DOME+PARTNERS is an architecture practice based in Istanbul Turkey that is dedicated to well orchestrated projects ranging from architectural to large-scale urban interventions Established in 1997 by Murat Yılmaz DOME+PARTNERS started off with the vision of creating an open system that welcomes diverse approaches to its adaptive and responsive structure

At DOME+PARTNERS various disciplines gather under one unique roof to be able to respond the demands of global design firms as a close ally throughout conception to delivery processes The team consists of over 60 people including in-house structural mechanical and electrical engineers to landscape and interior architects to facade consultants to LEED specialists Our experience working with global partners over the years helped the team to improve and streamline processes between the local and global methods

We envision Istanbul is on its way to become a leading design and delivery hub in the context of Mediterranean and Middle-Eastern Networks Our design team constantly gets inspired and learns from the rapidly changing surface of Istanbul and wants to improve smart integrated responsible livable and great projects for these future contexts This environment triggers our adaptive approach to each problem through rethinking the possibilities of imagining new contexts while at the same time trying to preserve the good stuff within the existing As DOME+PARTNERS we are open to reach out different groups and cultures in which new frontiers can be pushed forward We believe every project is a new beginning and an opportunity to achieve a better quality solution

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3gtlt40AC=4AB^[PaPZbuacute]uacutea[PauacutePugravePZPSuacute]PUPaZ[uacuteVad_[PaPeTZatilde[catildea[TaTd[PugravePhPWTaiPP]PIcircuacutedivideuacutei7Ta_a^YT]X]hT]XQXaQPugrave[P]VuacuteIcirc^[Sddivided]PeTSPWPXhXZP[XcTSTIcircYacuteiatilde[TaTd[PugravePZXIcircX]hT]XUuacuteabPc[PaS^dividedaSddivided]PX]P]uacuteh^adi

6ugraveAugravedividePREFACE

αέΎϧΗέΎΑΎϣϭΩΔϛέηαϳγΎΗϡΗΩϘϟ20(3$571(56ΔγΩϧϬϠϟϲϓίΎϣϠϳΩέϣϱέΎϣόϣϟαΩϧϬϣϟϝΑϗϥϣ˺ΔϧγΎϳϛέΗϲϓΔϳέΎϣόϣϟΩϘϟϭˬΔϳϧϛγϟϥΩϣϠϟϡΟΣϟΓέϳΑϛϊϳέΎηϣϡϳϣλΗϭΔϳέΎϣόϣϟΕηϧϣϟϝΎΟϣέϭλΗϟΩΎΟϳΔϳ΅έˬϕγΎϧΗϣϟϭϥέϣϟΎϬϠϳϛηΗΑαέΎϧΗέΎΑΎϣϭΩΔϛέηΕϧΑΗ

ΔϔϠΗΧϣϟέυϧϟΕΎϬΟϭϟΗϔϧϣϟϲΎϬϧϟϡϳϠγΗΔϠΣέϣϰϟέϛϔϟΔΣέϣϥϣΔϔϠΗΧϣϟρΑϭοϟΕόϣΗΟΩϘϟϲϓΩΣϭϑϘγΕΣΗˬΔϳϣϟΎόϟϡϳϣλΗϟΕΎϛέηΕΎΑϠρΗϣϟΏϭΎΟΗϟΎΑϝϣόϠϟ

αέΎϧΗέΎΑΎϣϭΩΔϛέηϥϣΎγΩϧϬϣ˿˹ϝϣηϳΎϣϱϭΣΗˬΔγγ΅ϣϟϥϣοϝϣόΗϲΗϟΔϋϭϣΟϣϟ

ϡϳυϧΗϭϲϠΧΩϟ˯ΎϧΑϟϲγΩϧϬϣˬ˯ΎΑέϬϛϟϭϥΎϛϣϟϲγΩϧϬϣϭˬ˯ΎϧΑϟϲγΩϧϬϣ˯ΎϧΑϟΩϳϠϟϲγΩϧϣϭΕέΎϣόϠϟΔϳΟέΎΧϟΕΎϬΑΟϟϱέΎηΗγϣˬϕΩΣϟ

ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷέϳϭρΗΑΎϧΩϋΎγΔϠϳϭρΕϭϧγϟΔϳϣϟΎϋΕΎϛέηϊϣϝϣΎόΗϟΓέΑΧϟΔΟϳΗϧ

ϝΣέϣϲϓΫϳϔϧΗϟΏϳϟΎγϡϳυϧΗϭέϳϭρΗΑΎϧΗϋϭϣΟϣϯΩϟΕ˯ΎϔϛϟϥϳγΣΗϭϲϣϟΎόϟϭϲϠΣϣϟϝϣόϟ

ϝϭΑϧργϲϓΔϳίϛέϣϟϭΓΩέϟΕΎϛέηϟϥϣΎϬϧϭϛϭΣϧΎϧΗϛέηϡΩϘΗΑϝϣ΄ϧϊϳέΎηϣϟϡϳϣλΗϝΎΟϣϲϓˬργϭϷϕέηϟϭνϳΑϷέΣΑϟϕρΎϧϣϭ

ΎϫΫϳϔϧΗϭέϣΗγϣϟϭϊϳέγϟέϳϐΗϥϣϡΎϬϟϻϲϘϠΗϲϓέϣΗγΗΔϳϣϳϣλΗϟΎϧΗϋϭϣΟϣϥΈϓΎϫέϳγϝλϭΗΎϧΗϋϭϣΟϣϥΈϓΫϫϰϠϋ˯ΎϧΑϭϝϭΑϧργΔϬΟϭϰϠϋΉέΎρϟ

έΛϛϭΎϣΟΣέΑϛϊϳέΎηϣϟϕϳϘΣΗϑΩϬΑΩϳίϣϟϡϠόΗϟϭΓέΑΧϟ˯ΎϧΗϗΎΑέΑϛΔϳϟϭ΅γϣϝϣΣΗϭΎϣΎΟγϧϭ˯ΎϛΫέΛϛϭˬϡΩΧΗγϻϭεϳόϠϟΔϳΣϼλ

ϝΑϘΗγϣϟϲϓϕΎϳγϟΫϫϲϓΔϠϣΗΣϣϟϝϛΎηϣϟϝϳϣΟϟϝϭϠΣΩΎΟϳϲϓΎϧΩϋΎγϳϭΟϟΫϫϭ

ϝΑϗϥϣΓΩϭΟϭϣϟΔϳΑΎΟϳϹΏϧϭΟϟϰϠϋυΎϔΣϟϰϟΔϓΎοϻΎΑΕΎϓΎϘΛϟΕΎϔϟϊϳϣΟϰϟϝϭλϭϠϟϥϳΩόΗγϣαέΎϧΗέΎΑΎϣϭΩΔϛέηϥΣϧΩϭΩΣϟίϭΎΟΗΑϑΩϬϟΎϧϧϳϋΏλϧϥϳόοϭˬΔϋϭϧΗϣϟΕΎϋϭϣΟϣϟϭ

ϝΎΟϣϟϲϓΔϳΩϳϠϘΗϟΔλέϓΎϧϟϳΗΗϭΎϧϟΓΩϳΩΟΔϳΩΑΔΑΎΛϣΑΩϳΩΟωϭέηϣϝϛϥ΄Αϥϣ΅ϧϭ

ϝΎΟϣϟϲϓΓΩϭΟέΛϛϝϭϠΣϰϟϝϭλϭϟ

29

65

53

57

59

40

21

5143

09

61

1305

25

33 37 38 39

17

55

47

85

71 77

99

101 105

91

95

89

97

69

81

75

ugraveregugrave=34ugrave4ACONTENTS

0I07BC0=70=B70CHA

WP]BWPcha_a^YTRcXbP]RW^aTSQhBTQ^[3TeT[^_T]cX]0bcP]PPiPZWbcP]XbPXgTSdbT_a^YTRccWPcXb^]V^X]V^eTaP__a^gXPcT[h b`CWT_a^YTRcXbSTbXV]TSQhTaZX]bFX[[P]S3gtlt40AC=4ABa^YTRc_Pac]TabWX_CWTa^YTRcaXbTb^]c^fTabPbUXabcc^fTabPaTSTbXV]TSPb^UUXRTQ[^RZbP]ScWT[Pbcc^fTa(bc^aThXbSTbXV]TSPb^U(bc^aThbbTaeXRTP_PacT]cbP]ScWT[Pbc bc^aThbPbaTbXST]RTCWTE8aTbcPdaP]cbP]Sb^RXP[[TXbdaTPaTPbPXc^bdbcPX]cWT_aTbcXVX^dbTUUTRc^U_a^YTRc^eTacWTSXbcaXRc

BTQ^[3TeT[^_T]ccPaPUuacute]SP]PiPZXbcP]0bcP]PSPhP_uacute[PZcP^[P]WP]BWPchaZPaPZd[[P]uacute_a^YTbXhPZ[PugraveuacuteZ c^_[PX]ugravePPcP[P]uacute]SPSTePTcTZcTSXaTaZX]bFX[[eT3gtlt40AC=4AB_a^YT^acPZ[uacutedivideuacuteQatilde]hTbX]STcPbPa[P]P]_a^YT ampZPc[uacute$ZPc[uacuteZPc[uacuteeT(ZPc[uacuteZd[TST]^[dugravePZcPSuacuteauuml[ZZd[T^UXbQ[^divided^[PaPZcPbPa[P]uacuteugravecuacutea(ZPc[uacutecPbPa[P]P]Zd[TSTXbT(ZPcuacute]bTaeXbP_PacP]uacuteb^] ZPcuacute]XbTaTiXSP]b^[PaPZZd[[P]uacuteuacuteYacute]VYacuteaatilde[TZcTSXaa^YTXIcircTaXbX]SThTaP[PRPZE8aTbcPdaP]c[PaeTb^bhP[P[P][PaX[TST_a^YT]X]QYacute[VTXIcircTaXbX]STZX_aTbcXYXWXbbTSX[Xah^divided][ddividePd[PugravePRPZcuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) BTQ^[3TeT[^_T]cgt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8) PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)BTQ^[3TeT[^_T]cH4A) 0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADltD)3TeP4ST]

ϝΑϗϥϣϩΫϳϔϧΗϡΗϳϡΩΧΗγϻΩΩόΗϣωϭέηϣˬέϳΗΎηϥΎΧϥΎΗγϳΧίϗωϭέηϣϥΈϓϰϠϋϪϳϓέϣΗγϣ˯ΎϧΑϟϝϣϋϝίΎϣˬϥΎΗγϳΧίϗϪϧΎΗγϲϓέϳϭρΗϠϟϝϭΑϣγΔϛέηϝϳϭαϧϳϛέΑΔϛέΎηϣΑϡλλϣϟωϭέηϣϟϥϭϛΗϳ˻ϡ˺˿˹˹˹˹ϪΗΣΎγϣνέ˻˾ϲϧΎΛϟΝέΑϟˬΎϘΑΎρ˺ϥϣϥϭϛΗϳϝϭϷΝέΑϟˬΝέΑ˽ϥϣαέΎϧΗέΎΑΎϣϭΩϭΔΛϼΛϟΝέΑϷϡϳϣλΗϡΗϓϕΑΎρ˼ϊΑέϟΝέΑϟˬϕΑΎρ˼˼ΙϟΎΛϟΝέΑϟˬϕΑΎρ

˻ιϳλΧΗϡΗϓϕΑΎρ˼ϥϣϝϛηΗϣϟΝέΑϟΎϣˬΏΗΎϛϣϟΔϋϭϣΟϣνέϏϷϰϟϭϷˬΔϳϗΩϧϔϟΔϣΎϗϻνέϐϟΎϬϟΎϣόΗγΟέϳΔϳϗΎΑϟϕΑϭρ˺˹ΎϣϭˬΕΎϣΩΧϠϟϪϧϣϕΑΎρΓέΧΎϔϟϪϣϋΎρϣΑΔϘρϧϣϟϲϓωϭέηϣϠϟΎϳϠΟϊϳϓέϟϯϭΗγϣϟέϬυϳγ93ΕϻΎΟϣϟϭ

ΎϬΑωϭέηϣϟΩϳϭίΗϡΗϲΗϟΔϳϋΎϣΗΟϻ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

Perkins+Will

έϳϭρΗϠϟϝϭΑϣγΔϛέηωϭέηϣϟΏΣΎλ sembol

ϥΎΗγϳΧίϗϪϧΎΗγϝϣόϟϊϗϭϣ AstAnA kAzAkistAn

˻ϡ˻˾˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

05

0I07BC0=70=B70CHA

06

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

29

65

53

57

59

40

21

5143

09

61

1305

25

33 37 38 39

17

55

47

85

71 77

99

101 105

91

95

89

97

69

81

75

ugraveregugrave=34ugrave4ACONTENTS

0I07BC0=70=B70CHA

WP]BWPcha_a^YTRcXbP]RW^aTSQhBTQ^[3TeT[^_T]cX]0bcP]PPiPZWbcP]XbPXgTSdbT_a^YTRccWPcXb^]V^X]V^eTaP__a^gXPcT[h b`CWT_a^YTRcXbSTbXV]TSQhTaZX]bFX[[P]S3gtlt40AC=4ABa^YTRc_Pac]TabWX_CWTa^YTRcaXbTb^]c^fTabPbUXabcc^fTabPaTSTbXV]TSPb^UUXRTQ[^RZbP]ScWT[Pbcc^fTa(bc^aThXbSTbXV]TSPb^U(bc^aThbbTaeXRTP_PacT]cbP]ScWT[Pbc bc^aThbPbaTbXST]RTCWTE8aTbcPdaP]cbP]Sb^RXP[[TXbdaTPaTPbPXc^bdbcPX]cWT_aTbcXVX^dbTUUTRc^U_a^YTRc^eTacWTSXbcaXRc

BTQ^[3TeT[^_T]ccPaPUuacute]SP]PiPZXbcP]0bcP]PSPhP_uacute[PZcP^[P]WP]BWPchaZPaPZd[[P]uacute_a^YTbXhPZ[PugraveuacuteZ c^_[PX]ugravePPcP[P]uacute]SPSTePTcTZcTSXaTaZX]bFX[[eT3gtlt40AC=4AB_a^YT^acPZ[uacutedivideuacuteQatilde]hTbX]STcPbPa[P]P]_a^YT ampZPc[uacute$ZPc[uacuteZPc[uacuteeT(ZPc[uacuteZd[TST]^[dugravePZcPSuacuteauuml[ZZd[T^UXbQ[^divided^[PaPZcPbPa[P]uacuteugravecuacutea(ZPc[uacutecPbPa[P]P]Zd[TSTXbT(ZPcuacute]bTaeXbP_PacP]uacuteb^] ZPcuacute]XbTaTiXSP]b^[PaPZZd[[P]uacuteuacuteYacute]VYacuteaatilde[TZcTSXaa^YTXIcircTaXbX]SThTaP[PRPZE8aTbcPdaP]c[PaeTb^bhP[P[P][PaX[TST_a^YT]X]QYacute[VTXIcircTaXbX]STZX_aTbcXYXWXbbTSX[Xah^divided][ddividePd[PugravePRPZcuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) BTQ^[3TeT[^_T]cgt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8) PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)BTQ^[3TeT[^_T]cH4A) 0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADltD)3TeP4ST]

ϝΑϗϥϣϩΫϳϔϧΗϡΗϳϡΩΧΗγϻΩΩόΗϣωϭέηϣˬέϳΗΎηϥΎΧϥΎΗγϳΧίϗωϭέηϣϥΈϓϰϠϋϪϳϓέϣΗγϣ˯ΎϧΑϟϝϣϋϝίΎϣˬϥΎΗγϳΧίϗϪϧΎΗγϲϓέϳϭρΗϠϟϝϭΑϣγΔϛέηϝϳϭαϧϳϛέΑΔϛέΎηϣΑϡλλϣϟωϭέηϣϟϥϭϛΗϳ˻ϡ˺˿˹˹˹˹ϪΗΣΎγϣνέ˻˾ϲϧΎΛϟΝέΑϟˬΎϘΑΎρ˺ϥϣϥϭϛΗϳϝϭϷΝέΑϟˬΝέΑ˽ϥϣαέΎϧΗέΎΑΎϣϭΩϭΔΛϼΛϟΝέΑϷϡϳϣλΗϡΗϓϕΑΎρ˼ϊΑέϟΝέΑϟˬϕΑΎρ˼˼ΙϟΎΛϟΝέΑϟˬϕΑΎρ

˻ιϳλΧΗϡΗϓϕΑΎρ˼ϥϣϝϛηΗϣϟΝέΑϟΎϣˬΏΗΎϛϣϟΔϋϭϣΟϣνέϏϷϰϟϭϷˬΔϳϗΩϧϔϟΔϣΎϗϻνέϐϟΎϬϟΎϣόΗγΟέϳΔϳϗΎΑϟϕΑϭρ˺˹ΎϣϭˬΕΎϣΩΧϠϟϪϧϣϕΑΎρΓέΧΎϔϟϪϣϋΎρϣΑΔϘρϧϣϟϲϓωϭέηϣϠϟΎϳϠΟϊϳϓέϟϯϭΗγϣϟέϬυϳγ93ΕϻΎΟϣϟϭ

ΎϬΑωϭέηϣϟΩϳϭίΗϡΗϲΗϟΔϳϋΎϣΗΟϻ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

Perkins+Will

έϳϭρΗϠϟϝϭΑϣγΔϛέηωϭέηϣϟΏΣΎλ sembol

ϥΎΗγϳΧίϗϪϧΎΗγϝϣόϟϊϗϭϣ AstAnA kAzAkistAn

˻ϡ˻˾˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

05

0I07BC0=70=B70CHA

06

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

85

71 77

99

101 105

91

95

89

97

69

81

75

ugraveregugrave=34ugrave4ACONTENTS

0I07BC0=70=B70CHA

WP]BWPcha_a^YTRcXbP]RW^aTSQhBTQ^[3TeT[^_T]cX]0bcP]PPiPZWbcP]XbPXgTSdbT_a^YTRccWPcXb^]V^X]V^eTaP__a^gXPcT[h b`CWT_a^YTRcXbSTbXV]TSQhTaZX]bFX[[P]S3gtlt40AC=4ABa^YTRc_Pac]TabWX_CWTa^YTRcaXbTb^]c^fTabPbUXabcc^fTabPaTSTbXV]TSPb^UUXRTQ[^RZbP]ScWT[Pbcc^fTa(bc^aThXbSTbXV]TSPb^U(bc^aThbbTaeXRTP_PacT]cbP]ScWT[Pbc bc^aThbPbaTbXST]RTCWTE8aTbcPdaP]cbP]Sb^RXP[[TXbdaTPaTPbPXc^bdbcPX]cWT_aTbcXVX^dbTUUTRc^U_a^YTRc^eTacWTSXbcaXRc

BTQ^[3TeT[^_T]ccPaPUuacute]SP]PiPZXbcP]0bcP]PSPhP_uacute[PZcP^[P]WP]BWPchaZPaPZd[[P]uacute_a^YTbXhPZ[PugraveuacuteZ c^_[PX]ugravePPcP[P]uacute]SPSTePTcTZcTSXaTaZX]bFX[[eT3gtlt40AC=4AB_a^YT^acPZ[uacutedivideuacuteQatilde]hTbX]STcPbPa[P]P]_a^YT ampZPc[uacute$ZPc[uacuteZPc[uacuteeT(ZPc[uacuteZd[TST]^[dugravePZcPSuacuteauuml[ZZd[T^UXbQ[^divided^[PaPZcPbPa[P]uacuteugravecuacutea(ZPc[uacutecPbPa[P]P]Zd[TSTXbT(ZPcuacute]bTaeXbP_PacP]uacuteb^] ZPcuacute]XbTaTiXSP]b^[PaPZZd[[P]uacuteuacuteYacute]VYacuteaatilde[TZcTSXaa^YTXIcircTaXbX]SThTaP[PRPZE8aTbcPdaP]c[PaeTb^bhP[P[P][PaX[TST_a^YT]X]QYacute[VTXIcircTaXbX]STZX_aTbcXYXWXbbTSX[Xah^divided][ddividePd[PugravePRPZcuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) BTQ^[3TeT[^_T]cgt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8) PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)BTQ^[3TeT[^_T]cH4A) 0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADltD)3TeP4ST]

ϝΑϗϥϣϩΫϳϔϧΗϡΗϳϡΩΧΗγϻΩΩόΗϣωϭέηϣˬέϳΗΎηϥΎΧϥΎΗγϳΧίϗωϭέηϣϥΈϓϰϠϋϪϳϓέϣΗγϣ˯ΎϧΑϟϝϣϋϝίΎϣˬϥΎΗγϳΧίϗϪϧΎΗγϲϓέϳϭρΗϠϟϝϭΑϣγΔϛέηϝϳϭαϧϳϛέΑΔϛέΎηϣΑϡλλϣϟωϭέηϣϟϥϭϛΗϳ˻ϡ˺˿˹˹˹˹ϪΗΣΎγϣνέ˻˾ϲϧΎΛϟΝέΑϟˬΎϘΑΎρ˺ϥϣϥϭϛΗϳϝϭϷΝέΑϟˬΝέΑ˽ϥϣαέΎϧΗέΎΑΎϣϭΩϭΔΛϼΛϟΝέΑϷϡϳϣλΗϡΗϓϕΑΎρ˼ϊΑέϟΝέΑϟˬϕΑΎρ˼˼ΙϟΎΛϟΝέΑϟˬϕΑΎρ

˻ιϳλΧΗϡΗϓϕΑΎρ˼ϥϣϝϛηΗϣϟΝέΑϟΎϣˬΏΗΎϛϣϟΔϋϭϣΟϣνέϏϷϰϟϭϷˬΔϳϗΩϧϔϟΔϣΎϗϻνέϐϟΎϬϟΎϣόΗγΟέϳΔϳϗΎΑϟϕΑϭρ˺˹ΎϣϭˬΕΎϣΩΧϠϟϪϧϣϕΑΎρΓέΧΎϔϟϪϣϋΎρϣΑΔϘρϧϣϟϲϓωϭέηϣϠϟΎϳϠΟϊϳϓέϟϯϭΗγϣϟέϬυϳγ93ΕϻΎΟϣϟϭ

ΎϬΑωϭέηϣϟΩϳϭίΗϡΗϲΗϟΔϳϋΎϣΗΟϻ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

Perkins+Will

έϳϭρΗϠϟϝϭΑϣγΔϛέηωϭέηϣϟΏΣΎλ sembol

ϥΎΗγϳΧίϗϪϧΎΗγϝϣόϟϊϗϭϣ AstAnA kAzAkistAn

˻ϡ˻˾˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

05

0I07BC0=70=B70CHA

06

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0I07BC0=70=B70CHA

WP]BWPcha_a^YTRcXbP]RW^aTSQhBTQ^[3TeT[^_T]cX]0bcP]PPiPZWbcP]XbPXgTSdbT_a^YTRccWPcXb^]V^X]V^eTaP__a^gXPcT[h b`CWT_a^YTRcXbSTbXV]TSQhTaZX]bFX[[P]S3gtlt40AC=4ABa^YTRc_Pac]TabWX_CWTa^YTRcaXbTb^]c^fTabPbUXabcc^fTabPaTSTbXV]TSPb^UUXRTQ[^RZbP]ScWT[Pbcc^fTa(bc^aThXbSTbXV]TSPb^U(bc^aThbbTaeXRTP_PacT]cbP]ScWT[Pbc bc^aThbPbaTbXST]RTCWTE8aTbcPdaP]cbP]Sb^RXP[[TXbdaTPaTPbPXc^bdbcPX]cWT_aTbcXVX^dbTUUTRc^U_a^YTRc^eTacWTSXbcaXRc

BTQ^[3TeT[^_T]ccPaPUuacute]SP]PiPZXbcP]0bcP]PSPhP_uacute[PZcP^[P]WP]BWPchaZPaPZd[[P]uacute_a^YTbXhPZ[PugraveuacuteZ c^_[PX]ugravePPcP[P]uacute]SPSTePTcTZcTSXaTaZX]bFX[[eT3gtlt40AC=4AB_a^YT^acPZ[uacutedivideuacuteQatilde]hTbX]STcPbPa[P]P]_a^YT ampZPc[uacute$ZPc[uacuteZPc[uacuteeT(ZPc[uacuteZd[TST]^[dugravePZcPSuacuteauuml[ZZd[T^UXbQ[^divided^[PaPZcPbPa[P]uacuteugravecuacutea(ZPc[uacutecPbPa[P]P]Zd[TSTXbT(ZPcuacute]bTaeXbP_PacP]uacuteb^] ZPcuacute]XbTaTiXSP]b^[PaPZZd[[P]uacuteuacuteYacute]VYacuteaatilde[TZcTSXaa^YTXIcircTaXbX]SThTaP[PRPZE8aTbcPdaP]c[PaeTb^bhP[P[P][PaX[TST_a^YT]X]QYacute[VTXIcircTaXbX]STZX_aTbcXYXWXbbTSX[Xah^divided][ddividePd[PugravePRPZcuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) BTQ^[3TeT[^_T]cgt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8) PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)TaZX]bFX[[4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)BTQ^[3TeT[^_T]cH4A) 0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADltD)3TeP4ST]

ϝΑϗϥϣϩΫϳϔϧΗϡΗϳϡΩΧΗγϻΩΩόΗϣωϭέηϣˬέϳΗΎηϥΎΧϥΎΗγϳΧίϗωϭέηϣϥΈϓϰϠϋϪϳϓέϣΗγϣ˯ΎϧΑϟϝϣϋϝίΎϣˬϥΎΗγϳΧίϗϪϧΎΗγϲϓέϳϭρΗϠϟϝϭΑϣγΔϛέηϝϳϭαϧϳϛέΑΔϛέΎηϣΑϡλλϣϟωϭέηϣϟϥϭϛΗϳ˻ϡ˺˿˹˹˹˹ϪΗΣΎγϣνέ˻˾ϲϧΎΛϟΝέΑϟˬΎϘΑΎρ˺ϥϣϥϭϛΗϳϝϭϷΝέΑϟˬΝέΑ˽ϥϣαέΎϧΗέΎΑΎϣϭΩϭΔΛϼΛϟΝέΑϷϡϳϣλΗϡΗϓϕΑΎρ˼ϊΑέϟΝέΑϟˬϕΑΎρ˼˼ΙϟΎΛϟΝέΑϟˬϕΑΎρ

˻ιϳλΧΗϡΗϓϕΑΎρ˼ϥϣϝϛηΗϣϟΝέΑϟΎϣˬΏΗΎϛϣϟΔϋϭϣΟϣνέϏϷϰϟϭϷˬΔϳϗΩϧϔϟΔϣΎϗϻνέϐϟΎϬϟΎϣόΗγΟέϳΔϳϗΎΑϟϕΑϭρ˺˹ΎϣϭˬΕΎϣΩΧϠϟϪϧϣϕΑΎρΓέΧΎϔϟϪϣϋΎρϣΑΔϘρϧϣϟϲϓωϭέηϣϠϟΎϳϠΟϊϳϓέϟϯϭΗγϣϟέϬυϳγ93ΕϻΎΟϣϟϭ

ΎϬΑωϭέηϣϟΩϳϭίΗϡΗϲΗϟΔϳϋΎϣΗΟϻ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

Perkins+Will

έϳϭρΗϠϟϝϭΑϣγΔϛέηωϭέηϣϟΏΣΎλ sembol

ϥΎΗγϳΧίϗϪϧΎΗγϝϣόϟϊϗϭϣ AstAnA kAzAkistAn

˻ϡ˻˾˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

05

0I07BC0=70=B70CHA

06

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0I07BC0=70=B70CHA

06

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt4CAgtgtugraveBC0=1D

The Metropol Istanbul is a prestigious mixed-used project located right next to Istanbul Finance Center The building consists of 3 high-rise towers standing on a podium with retail and office facilities meeting rooms dining and car parking B and C Towers which are 27 and 28 levels function as office and residences on the west and east ends of the project block A which is rising in the middle has 58 levels and function as a high-end residence

One of the main features is the 400 m long shopping district right in the middle of the podium of Metropol Istanbul It is designed as a catwalk a fashionable street where luxurious brands have a direct access 160000 sqm shopping mall and recreation area also have cinema multi-functional performance hall and social amenities area Metropol Istanbul is a LEED Green Building Certificate candidate project

ltTca _ [uumlbcP]Qd[uumlbcP]Qd[5X]P]bltTaZTiX]X]WTT]hP]uacute]SPZ^]dugrave[P]uacuteugrave_aTbcXY[XQXaZPaPZd[[P]uacute_a YTbXSXaHP_uacutePdividePiPeT UXb[TaX]c _[P]cuacutebP[ ][Pauacute]uacute]hTTZeT c _PaZXZP][Pauacute]uacute]Qd[d]SddividedQXa_^ShdatildeiTaX]SThatildeZbT[T]VYacuteZST[T]ST] [dugravePZcPSuacuteaampeTZPchatildeZbTZ[XdivideX]ST [P]1eT2Zd[T[TaX_a YT]X]S^dividedeTQPcuacutedIcirc[Pauacute]SP UXbeTaTiXSP]b [PaPZWXiTceTaXaZT] acPSPQd[d]P]$ZPc[uacute0Zd[TbXatildebcSatildeiThaTiXSP]bSPXaT[TaX]XQPauacute]SuacuteaPZcPSuacutea

ltTca _ [uumlbcP]Qd[d]VYacuteiTIcircPa_P]YacuteiT[[XZ[TaX]ST]QXaXST_^Shd acPbuacute]SPTcaTQ^hd]RPdiP]P]P[uacuteugraveeTaXugraveQYacute[VTbXSXa1dQYacute[VTSTUX[T_^ShddVXQX^SPhPdhVd][PaPZcPbPa[P]uacuteugrave [d_[atildeZbPaZP[PaPS^divideadSP]TaXugraveX

bPdivide[PPZcPSuacutea TcaTZPaT[XZP[uacuteugraveeTaXugraveTaZTiXPh]uacuteiPP]SPbX]TPhPIcirc^ZZd[[P]uacute[uacute_TaU aP]bbP[ ]d]PeTb^bhP[cTbXb[TaTbPWX_cXaltTca _ [uumlbcP]Qd[443HTugraveX[1X]PBTacXUXZPbuacutePSPhuacuteQXa_a YTSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C) E0AH0609^X]cET]cdaTgt20C8gt=) 0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=))E0AH060gtacPZ6XaXugraveXXH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADltD)3TeP4ST]

ΩϧϋϩΫϳϔϧΗϡΗϊϳϓέϟϯϭΗγϣϟϭΫϝΎϣόΗγϻΩΩόΗϣωϭέηϣϪϧˬϝϭΑϧργϝϭΑϭέΗϣΔϳϭΗγϣΔλϧϣϰϠϋ˯ΎϣγΕΎΣρΎϧΙϼΛΩϳϳηΗϡΗΩϘϟˬϝϭΑϧργϲϓϝϳϭϣΗϟίϛέϣϑϗϭϣϭϡϋΎρϣϭˬΕΎϋΎϣΗΟϻΕϻΎλϭˬΏΗΎϛϣϟϭΕϼΣϣϟϥϣΩΩϋϰϠϋϱϭΗΣΗϭϲϗέηϟϕϓϷϡΩΧΗγϡΗϕΑΎρ˻ϭ˻ϥϣΔϧϭϛΗϣϟΝϭΏΝέΑϷˬΕέΎϳγϟ

˾ϥϣϑϟ΄ΗϳργϭϟϲϓϊϘϳϱΫϟΝέΑϟΎϣˬΔϳϗΩϧϔϟΔϣΎϗϻϭΏΗΎϛϣϠϟΎϬϧϣϲΑέϐϟϭϯϭΗγϣϰϠϋ΄ΑΔϣΎϗϹνέϏϷϪλϳλΧΗϡΗϓˬϕΑΎρ

ϲΗϟϕϭγΗϟΔϘρϧϣϭϫϝϭΑϧργϝϭΑϭέΗϣωϭέηϣϲϓέυϧϟΕϔϠΗϲΗϟΕίϳϣϟϥϣϭϡΗˬ˯ΎϳίϷΕΎοέΎϋΔλϧϣΎϬϧ΄ϛΔϘρϧϣϟϩΫϫˬΔλϧϣϟργϭϲϓέΗϣ˽˹˹ϰϟΩΗϣΗ

ΔϟϭϬγΑΕΎϛέΎϣϟέϬηϰϟϝλϭΗϟΔλέϓϧϣΗϭΎοϭϣϟΏγΣΎϬϳϣλΗˬΔϳΎϣϧϳγΕΎϧϭϟΎλϰϠϋϱϭΗΣϳ˻ϡ˺˿˹˹˹˹ϥϣϥϭϛϣϟϱέΎΟΗϟίϛέϣϟΎϣΔϘϳΛϭϰϠϋϝϭλΣϠϟϭοϋωϭέηϣϪϧϭϡΩΧΗγϻΩΩόΗϣϭΔϳϋΎϣΗΟΕΎγγ΅ϣϭ

((ΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗϱΫϟέοΧϷ˯ΎϧΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧˬ50-0

ΏΎϏϭΏΎϳέϭΔϛέΎηϣωϭέηϣϟΏΣΎλ9$5lt$3$3257$oslash5oslashugraveoslash0oslash

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˹˹˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

09

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt4CAgtgt8BC0=1D

10

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=450C0frac12H

NEF Atakoy is a prime retail-mixed use development anchored by NEF in the heart of core area of Atakoy centre The 164650 sqm development will provide an integrated mix of residentialretailOffice and hotel facilitiesThe site extends to 25000 sqm and links to D-100 motorway just a stepby15 km to Atakoumly Marina (a quick step to Anatolian Side of Istanbul) 25 km to Atatuumlrk AirportThe accessibility facilities of Nef Atakoumly includes of metro metrobus airport and marina that impacts a marvelous connectivity to whole cityarea The development includes 18 storey 6 blocks consisting of 203 residential units-ranging from studios 1+1 2+1 3+1 to 4+1 offices retails and hotel facilities

$PabPP[P]uacuteatildeiTaX]ST=45cPaPUuacute]SP]WPhPcPVTIcircXaX[T]=450cPZYacuteh3 ZPaPh^[datildeiTaX]STQd[d]Pbuacuteh[P0cPZYacutehltPaX]PhP $ZeT0cPcatildeaZ7PeP[XP]uacute]P$ZdiPZ[uacuteZcP^[Pbuacuteh[PZT]cX]d[PugraveuacuteQPdivide[P]cuacute[PauacutePIcircuacutebuacute]SP]RPiXQT]^ZcPbuacute]SPZ^]d[P]uacuteugravecuacuteaC _[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZ^[PaPZ $^[P]Z^]dccXRPaTc^UXbeTW^cT[Zd[[P]uacute[Pauacute]SP]^[dugraveP]ZPaP_a^YTST ZPc[uacuteZd[ThTaP[PZcPSuacuteaa^YTSTbcatildeSh^SP] eT TSTZdiP]P]Z^]dcQd[d]PZcPSuacutea

PROGRAM Mixed-UseSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT CXdaATP[4bcPcTLOCATION 0cPZ^h8bcP]Qd[TOTAL CONSTRUCTION AREA $sqmSTATUS Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)0cPZYacutehuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϪϧϭˬϑϧϝΑϗϥϣ˻ϡ˻˾˹˹˹ΔΣΎγϣϰϠϋϪϧϳηΩΗϡΗωϭέηϣˬϱϭϛΎρϑϧϪϓέηϻϙϟΫϭˬΔϧϳΩϣϠϟϝλϭΗϟϊρΎϘΗϲϓϩΩΟϭΗΏΑγΑΏϠρϟϭΔϳΑΫΎΟϟίϛέϣργϭ

ϊϳέγϟϕϳέρϟϰϠϋϥϣϡϛ˻˾ϭˬϱϭϛΎρ˯Ύϧϳϣϥϋϡϛ˺˾ΩόΑϳϭ˺˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬϕΑΎρ˺ΝέΑ˿ϥϣωϭέηϣϟϥϭϛΗϳˬϙέϭΗΎΗέΎρϣΎϣΑϕΩϧϓϭΔϳέΎΟΗΕΩΣϭϭΏΗΎϛϣˬΔϳϧϛγϕϘηϰϠϋϱϭΗΣϳΎϣΑˬ˻ϡ˺˿˽˾˹˹

ϥϭϛΗΗˬΔϘη˻˹˼ΎϬΑΓΩϭΟϭϣϟϕϘηϟωϭϣΟϣϭˬϡΩΧΗγϻΩΩόΗϣΎϋϭέηϣϙϟΫΑϝϛηϳ˺˽ϭˬ˺˼ˬ˺˻ˬ˺˺ϥϣϕϘηϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργϱϭϛΎρϝϣόϟϊϗϭϣ ˻ϡ˺˿˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

13

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=450C0frac12H

14

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

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^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

B0584B03gt=

DOME+PARTNERS is assigned to design a residential tower on a site of 5000 sqm in Kartal district Istanbulrsquos Anatolian side The building consists of residential (136 units) and retail units including sport facilities recreation and car parking Safi Espadonrsquos unique form is inspired from swordfish which means ldquoespadonrdquo in French It makes it a unique and remarkable landmark in the area

The residences are specially designed to meet middle income buyers with good quality housing under the motto ldquoeveryone should reach in excellencerdquo

3gtlt40AC=4ABuumlbcP]Qd[0]PS^[dhPZPbuacute]SPPacP[QYacute[VTbX]ST$TcaTZPaT[XZQXaP[P]atildeiTaX]STQXaaTiXSP]bZd[TbXcPbPauacuteuacuteX[TVYacuteaTe[T]SXaX[XugravecXa1X]PZ^]dc SPXaTeTcXRPaXQXaX[TaXX[TQXa[XZcTb_^acTbXbXaTZaTPbh^]P[P]uacuteeT^c^_PaZQd[d]SdaPZcPSuacuteaBPUX4b_PS^]d]QT]iTabXihP_uacutebuacuteXIcircX]5aP]buacuteiRPSPTb_PS^]P][Puacute]PVT[T]Zuacute[uacuteIcircQP[uacutedivideuacute]SP]X[WPP[uacute]uacuteugravecuacutea1dYacuteiT[[XZQX]P]uacute]QYacute[VTSTTugravebXieTVYacuteiTIcircPa_P]QXabXVT^[Pbuacute]uacutebPdivide[PPZcPSuacutea

^]dc[PaYacuteiT[[XZ[T^acPVT[Xa[XP[uacuteRuacute[Pauacute]XhXZP[XcTZ^]dcXWcXhPRuacute]uacuteZPaugraveuacute[PPZatildeiTaTWTaZTbatildeZTT[[XdivideTd[PugraveP[uacuteSuacuteab[^VP]uacute]SP]h^[PIcircuacuteZuacute[PaPZcPbPa[P]uacuteugravecuacutea

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Safi ATP[4bcPcTLOCATION Kartal IstanbulTOTAL CONSTRUCTION AREA 23500 sqmSTATUS Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

νέϰϠϋΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΝέΑϡϳϣλΗΑαέΎϧΗέΎΑΎϣϭΩϑϳυϭΗϡΗΩϘϟϥϣοΗϳˬϝϭΑϧργΔϧϳΩϣϲϓϱϭϳγϷϡγϘϟϥϣϝΎρέΎϗΔϘρϧϣϲϓ˻ϡ˾˹˹˹ϪΗΣΎγϣ

ϪϳϓέΗϠϟ˯ΎοϓˬΔοΎϳέϟϱΩΎϧˬΔϳέΎΟΗΕΩΣϭΔϘη˺˼˿ΔϳϧϛγϲϧΎΑϣωϭέηϣϟϲϧόΗϲΗϟcopyϥϭΩΎΑγordfΔϣϠϛϥϣ˯ΎΣϳϻϡΗΩϘϟϥϭΩΎΑγϲϓΎλˬΕέΎϳγϟϑϗϭϣϭέυϧϠϟΎΗϓϻΎϣϠϋΝέΑϟϥϭϛϲϓϡϫΎγϳΫϫϭˬωϭέηϣϟΫϳϔϧΗϲϓcopyϑϳγϭΑϙϣγordfργϭΗϣϟϝΧΩϟΏΎΣλϷΔϳϧϛγϟϕϘηϟϡϳϣλΗϡΗΩϘϟϭˬΔϘρϧϣϟΎΑΩϳέϔϟϪϣϳϣλΗΑϝϭλϭϥϣΩΑϻcopyέΎόηϥϣΎϗϼρϧΓΩϭΟϰϠϋ΄ΑϕϘηϰϠϋϝϭλΣϟϡϬϟϰϧΗγϳϰΗΣ

ίΎΗϣϣϟϰϟΏόηϟϝϛordf

ϥϛγϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλωϭέηϣϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ

˻ϡ˻˼˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

17

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

B0584B03gt=

18

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

8BA48C8BC0=1D8=C4A=0C8gt=058=0=28024=C4A

IS REIT-IFC is a prestigious office tower as part of a Financial District Master Plan project located at the very heart of Istanbulrsquos Finance Center in Atasehir Istanbul 18-storey building includes restaurant and commercial functions and it rests on a common podium for all IFC towers There are sport-fitness facilities leisure areas and 7 levels of indoor car parking

Main characteristic that has an immediate appeal to the eye of the tower is its compact form as a glass box Patterns on IS REIT-IFCrsquos facade and terrace shade are another characteristic of the building Geometrical patterns inspired from traditional Seljuk architecture are the main language in Istanbul Finance Center

uumloslash6HgtD5lt5X]P]bltTaZTiX0]P[P]uacute]uacute]QXa_PaIcircPbuacute^[PaPZuumlbcP]Qd[5X]P]bltTaZTiX]X]ZP[QX]ST0cPugraveTWXauumlbcP]Qd[SPZ^]d[P]uacuteugrave^[P]_aTbcXY[XQXa^UXbZd[TbX_a^YTbXSXa ZPc[uacuteQX]PaTbc^aP][PaeTcXRPaXQXaX[TaTSTbPWX_^[d_catildeD5ltZd[T[TaXX[TQTaPQTaPh]uacute^acPZ_^ShdSPQd[d]PZcPSuacutea1atilde]hTbX]STb_^aUXc]TbbcTbXb[TaXTdivide[T]RTP[P][PauacuteeTampZPc[uacuteZP_P[uacute^c^_PaZQPauacute]SuacuteaPZcPSuacutea

d[T]X]VYacuteiTIcircPa_P]T]QatildehatildeZYacuteiT[[XdivideXRPZdcdugraveTZ[X]STZXZ^_PZcU^adSdauumloslash6HgtD5lt]X]SuacuteugraveRT_WTbX]STZXeTcTaPbVatilde]Tugrave[XdivideX]STZXSTbT][TaQX]P]uacute]SXdivideTaQXaYacuteiT[[XdivideXSXa6T[T]TZbT[BT[IcircdZ[dXPaXbX]ST]TbX][T]X[Xugrave^[P]VT^TcaXZSTbT][TauumlbcP]Qd[5X]P]bltTaZTiX]X]P]PSX[XSXa

PROGRAM Office TowerSCOPE OF WORK TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABCLIENT IS Real Estate Investment Trust CoLOCATION Atasehir IstanbulTOTAL CONSTRUCTION AREA 72000 sqmSTATUS Ongoing

Agt94C0=8lt8)gtUXbAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)uumloslash6PhaXT]Zd[HPcuacuteauacutegtacPZ[uacutedivideuacute0oslashH4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp

3DADlt)3TeP4ST]

ωϭέηϣoslashugravelt2plusmn8)0ˬΔϘρϧϣϲϓϩΫϳϔϧΗϡΗϊϳϓέϯϭΗγϣϭΫΏΗΎϛϣΝέΑρρΧϣϥϣΔόρϗέΑΗόϳϭˬϝϭΑϧργΎΑϝϳϭϣΗϟίϛέϣΏϠϗϲϓϝϭΑϧργΎΑέϳϬηΎρ

ΎϣϠϋΓΩΣϭΔλϧϣϰϠϋϕΑΎρ˺ΔϧϭϛΗϣϟΝέΑϷΩΟϭΗΗˬϝϳϭϣΗϟίϛέϣϟϲγϳέϟϪϳϓέΗϟϥϛΎϣϭˬαϧΗϳϓϭΔοΎϳέϟϱΩΎϧΎϬΑϭˬΔϳέΎΟΗΕΩΣϭϭϡϋΎρϣϰϠϋϱϭΗΣΗΎϬϧ΄ΑΝέΑϟϲϓέυϧϠϟΔΗϔϠϣϟΓίϳϣϟϕΑϭρϥϣϥϭϛΗϣϕϠϐϣΕέΎϳγϟϑϗϭϣϥϣοΗϳϭΔϬΟϭϟϰϠϋϰϠϋΓΩΟϭΗϣϟϑέΎΧίϟϡΔΟϣΩϣΔϳΟΎΟίΔΑϠϋϝϛηϰϠϋϪϧϭϛϲϫϡΗϲΗϟΔϳγΩϧϬϟϝΎϛηϷϭϑέΎΧίϟϥϭˬωϭέηϣϠϟΔϳϓΎοΓίϳϣΔϳγϣηϟέΗϭγϟϭ

ϝϳϭϣΗϟίϛέϣϟϡϷΔϐϟέΑΗόΗˬΔϳϛϭΟϠγϟΔϳέΎϣόϣϟΔγΩϧϬϟϥϣ˯ΎΣϳϭϡΎϬϟΎΑΎϬϣϳϣλΗϝϭΑϧργΎΑ

ΏΗΎϛϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ΔϣϫΎγϣϟΕέΎϣΛΗγϻϭΕέΎϘόϠϟεϳΔϛέηωϭέηϣϟΏΣΎλϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ

˻ϡ˻˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

21

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

22

8BA48C852

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

23

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

01D0BgtAC2gtlt4G

The development is located on the southeastern part of the Almaty Kazakhstan The development consists of 13000 sqm open 15300 sqm closed sports area and 22500 sqm of green area With the 240 person capacity hotel the sportives the sport complex offers new generous facility area of 5 units for the branches-basketball judo halter

PiPZXbcP]uacute]0[PcPThP[TcX]X]Vatilde]ThS^dividedbd]SPhTaP[P]0ZQd[PZSPZ^]d[P]uacuteugravecuacutea1dZ^_[TZbcThatildeiTQPbZTcQ^[YdS^VatildeaTugraveeTWP[cTa^[PaPZ$PSTcb_^acTbXbXbPdivide[uacuteZTaZTiXX[TZP_hP_P]b_^aRd[Pauacute]Z^]PZ[PhPQX[TbXXIcircX]ZXugraveXZP_PbXcT[X^cT[hTaP[PZcPSuacutea PIcircuacuteZ $ZP_P[uacuteb_^aP[P]uacute]P$hTugraveX[P[P]PbPWX_cXa

PROGRAM Sports Center HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0[Pch0ZQd[PZPiPZXbcP]TOTAL CONSTRUCTION AREA $ampsqmSTATUS Ongoing

Agt94C0=8lt8)B_^altTaZTiXgtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0[Pcuacute0ZQd[PZPiPZXbcP]Cgt0ltugrave=divide00C00=8)$amp

3DADlt)3TeP4ST]

ΫϫϲϓΩΟϭϳˬϙϻϭΑϕϲϓΎΗΎϣϟΔϘρϧϣϕέηΏϭϧΟϲϓωϭέηϣϟαϳγ΄ΗϡΗΩϘϟˬϝΎϘΛϷϊϓέˬΔϋέΎλϣˬϭΩϭΟˬΔϠγϟΓέϛˬΔΣΎΑγΔοΎϳέϠϟϡΎγϗΔγϣΧϊϣΟϣϟϰϧγΗϳϰΗΣιΧη˻˽˹˰ϟϊγϳϕΩϧϓϭΔϳΣλΓΩΣϭϰϠϋωϭέηϣϟϱϭΗΣϳϭ

ϊϣΟϣϟΫϫϲϓέϛγόϣΔϣΎϗϲϓϥϳΑϏέϟϥϳϳοΎϳέϠϟϕϠϐϣ˻ϡ˺˾˼˹˹ˬϲοΎϳέϟϡΩΧΗγϼϟΡϭΗϔϣ˻ϡ˺˼˹˹˹ϥϣωϭέηϣϟϑϟ΄Ηϳ

˯έοΧϟΔΣΎγϣϠϟ˻ϡ˻˻˾˹˹ϭˬϲοΎϳέϟϡΩΧΗγϼϟ

ϕΩϧϓˬΔοΎϳέϟίϛέϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ turkuAz YDA

ϥΎΗγϳΧίϗˬϙϻϭΑϕˬϲΗΎϣϟϝϣόϟϊϗϭϣ ˻ϡ˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

25

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

01D0BgtAC2gtlt4G

26

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E80gtAC7gtDB4BBD8CB

Via Port Houses amp Suites is a residential project in Istanbul that represents a residence life intertwined with nature Situated on an area of 26000 and total construction area of 42000 square meters the project consists of four residential blocks with nine-stories six detached villas with three-stories sport facilities underground car park social amenities and a pleasant landscape

Via Houses amp Suitesrsquo conceptual approach is inspired from nature The building facadesrsquo characteristics form liquid relationship to its contextual landscape The integrated landscape consists of walking pavements and water features in the middle of the development which creates its own natural atmosphere

Via Port Houses amp Suites is a LEED Green Building Certificate candidate project

EXP^ac7^dbTbBdXcTbS^dividePX[TXIcircXIcircTVTIcircT]aTiXSP]bWPhPcuacute]uacutecTbX[TST]uumlbcP]Qd[SPZ^]d[P]uacuteugraveQXaZ^]dc_a^YTbXSXaC _[PTcaTZPaTX]ugravePPcP[P]uacuteX[TTcaTZPaT[XZQXaP[P]SPZ^]dugrave[P]uacuteugrave^[P]Qd_a^YTSYacuteacPSTcS^ZdiZPc[uacuteZ^]dcQ[^divided]PP[cuacutePSTcQPdivideuacutebuacuteiatildeIcircZPc[uacuteeX[[PhPb_^acTbXb[TaX]ThTaP[cuacute^c^_PaZuacute]Pb^bhP[P[P][PaPeTdWcTugraveTQXaP]iPaPhPbPWX_cXa

EXP7^dbTbBdXcTbcTZ^]bT_c^[PaPZS^dividePSP]X[WPP[uacute]uacuteugravecuacutea1X]PSuacuteugraveRT_WTYacuteiT[[XZ[TaXP]iPaPX[TPZuacuteRuacuteQXaX[XugraveZXXIcircX]STSXaregTeaTSatildeiT][TTbXhP_uacute[PaX[TQatildecatilde][TugraveXZhatildeaatildehatildeugraveZP[Suacuteauacute[PauacuteeTbdYacutedivideT[TaXh[TZT]SXS^divideP[Pc^bUTaX]XhPaPcPZcPSuacutea

EXP^ac7^dbTbBdXcTb443HTugraveX[1X]PBTacXUXZPbuacuteP[PhPPSPhQXa_a^YTSXa

PROGRAM ResidentialSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT VIA Development amp Management CoLOCATION Pendik IstanbulTOTAL CONSTRUCTION AREA sqmSTATUS Completed

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)VIA Development amp Management Co H4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέΓΎϳΣϟϼΛϣϣϝϭΑϧργϲϓϩΫϳϔϧΗϡΗˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ˽ϥϣϥϭϛΗϳϭ ϡ˻˽˻˹˹ ˹ΔϳϠϛϟΔΣΎγϣϟϰϠϋ ϡ˻˻˿˹˹ ˹˰ Α˯ ΎϧΑϟϡΗˬ ΔόϳΑρϟΎΑΔϠΧΩΗϣϟˬΔϳοΎϳέΓ ηϧϣˬ ϕΑϭρΙϼΛΑΔϠϘΗγϣΕϼϳϓΔΗγϭˬ ϕΑϭρ ϥϣΔϠϛηΗϣΓέΎϣϋϝϛΕέΎϣϋ

ΔΑϼΧΔϳόϳΑρέυΎϧϣΕΫˬ ΔϳϋΎϣΗΟΕϻΎΟϣˬ ϲοέϷϕΑΎρϟϲϓΕέΎϳγϑϗϭϣΔϳΟέΎΧϟΔϬΑΟϟΕίϳϣˬ ΔόϳΑρϟϥϣΎϳΣϭΗγϣˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣϡϳϣλΗϡΗ

ϭΟϟΎΑϙέόηΗϩΎϳϣϟΕϭϧϗϭΔϔλέϷˬ Ύ˯ϧΑϟϊϣΔϣΟγϧϣΔϳΑϟϡϳυϧΗˬ ΔόϳΑρϟϊϣΔϣΟγϧϣϰϧΑϣϠϟϲόϳΑρϟ

ΔϘϳΛϭϰϠϋϝϭλΣϟϲϓϭοϋˬ ΔΣϧΟϭ˯ ΎϧϳϣϟϝίΎϧϣΎϳϓωϭέηϣ((ϱΫϟέοΧϷ˯ ΎϧΑϟΔϗΎρϟϭΔϳΑϟΔϳΎϣΣρΑϭοϪϳϓέϓϭΗΗ

ϥϛγωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕϧϣΟΎϧΎϣΔϛέηϭέΎϣΛΗγϼϟΎϳϓωϭέηϣϟΏΣΎλ ViA

(9(230(170$1$(0(17amp2ϝϭΑϧργˬϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˿˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

29

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E80gtAC7gtDB4BBD8CB

30

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0BC0=00lt78C740CA4

CWT0_WXcWTPcTaSTeT[^_T]c[^RPcTSX]0bcP]PRP_XcP[RXch^UPiPZWbcP]Xbc^QTcWT_aTbcXVX^dbcPaVTc^Ub^RXP[TR^]^XRP[X_a^eTT]c^U0bcP]PbdaQP]P]SPaRWXcTRcdaP[R^_Pbb0bcP]PXb[^RPcTS^]cWTAXeTauumlugraveXCWTa^YTRcR^]bXbcb^U^eTa b`VaTT]PaTPP]S$b`c^cP[R[^bTSPaTP _Tab^]RP_PbXch0_UXCWTPcTaa^YTRc_a^eXSTb^__dacd]XcXTbU^aR^]RTacbcWTPcaTTcRP]S_aTbT]cbb_TRcPRd[PafPcTaeXbX^]bW^fb^U^eTacWT_^^[

PiPZXbcP]uacute]VT[XugraveTZcT^[P]b^bhP[TZ^]^XZhP_uacutebuacute]SPugraveTWXaRX[XZeTXPaXP][PSP_aTbcXY[XQXaYacutea]TZ^[PbuacuteWTSTU[T]XugravecXa0bcP]PuumlugraveX]TWaXatildeiTaX]STZ^]d[P]uacuteugravecuacutea hTugraveX[P[P]PeT$c^_[PZP_P[uacuteP[P]PbPWX_cXa ZXugraveX[XZZP_PbXcTbX^[P]PUXcXhPca^SPZ^]bTacXhPca^ebIcircTugraveXc[XVYacutebcTaX[TahP_uacute[PQX[TZ[TQTaPQTabPWX_^[SddividedWPediatildeiTaX]STIcircTugraveXc[XbdVYacutebcTaX[TaXSatildeiT][T]TQX[TZcTSXa

PROGRAM CulturalSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT CdaZdPiH30LOCATION 0bcP]PPiPZWbcP]TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)atilde[catildeaT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΔγΩϧϬϟϡϭϬϔϣϲϓϊϳϓέϯϭΗγϣΫΎΟΫϭϣϧϥϭϛϳϥ˭ϭϫωϭέηϣϟϡϳϣλΗϥϣϑΩϬϟϡΗΩϘϟΔϳϋΎϣΗΟϻϭΩΎλΗϗϻϝΎΟϣϲϓϲϣΎϧΗϣϟϥΎΗγϳΧίϗΩϠΑϟϥΩϣΗϟϭΔϳέΎϣόϣϟ

˻ϡ˺˹˹˹ϭ˯ΎϧΑϠϟ˻ϡ˻˾˹˹ϥϣϥϭϛΗϳˬϪϧΎΗγϲϓϡϳηϳέϬϧϰϠϋωϭέηϣϟΫϳϔϧΗνϭΣϭˬΔϳΣέγϣϟϭΕϼϔΣϠϟιΧη˺˹˹˹ϑϳοΗγϳΡέγϣϪϳϓˬ˯έοΧϟΔΣΎγϣϠϟ

ΔϳΎϣΕΎρΎηϧϭΏΎόϟνέόϟϟΎλ

ϲϓΎϘΛωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˿˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

33

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0BC0=00lt78C740CA4

34

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

8gt=0Agt7gtC4

8]1PhaP_PbPSXbcaXRccWTW^cT[fX[[R^_aXbTfXcWX]Pc^cP[STeT[^_T]cPaTP^U(b`P]Sb`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STbXV]PbP]P]VT[fX]VX]R[dSTb$QTSa^^bR^]VaTbbWP[[P]STTcX]Va^^bX]PcfT]chbc^aThQdX[SX]Vcf^bc^aThQPbTR^]cPX]X]VP[[_dQ[XRUd]RcX^]PaTPbPbQP[[a^^P]Sb_PCWTP]V[TSVT^Tcah^UcWTW^cT[RaTPcTbPUXccX]VRT]caT_XTRTc^cWT^eTaP[[R^_^bXcX^]X]cWXb[P]SPaZ[^RPcX^]CWT_dQ[XRUPRX[XcXTbX]R[dSTUd]RcX^]a^^bQPaaTbcPdaP]cbfXX]V_^^[P]SP[^d]VTPb[TXbdaTRT]caTCWTaTPaTP[b^^eTab`^UTTcX]Vb_PRTX]cWTQdbX]TbbRT]caTfXcWR^]VaTbbWP[[TTcX]Va^^bP]S[^d]VTPaTP

CWTPRRTbbXQX[Xch^UW^cT[STeT[^_T]cWPbPWP[[PaZUTPcdaTQhcWTX]cTabTRcX^]^UcadRZa^PSP]ScWTR^]]TRcXeXch^UfW^[TbP[TPaZTcWP[[

uumlZ^]HP_uacutecPaPUuacute]SP]uumlbcP]Qd[1PhaP_PugravePSPX]ugravePTSX[TZcT^[P]uumlgt=H0810HA0lt0oslash0$^SPZP_PbXcT[XZ^]UTaP]bc^_[P]cuacute^SP[PauacuteQd[d]P]QXaXugrave^cT[XSXa7P[eTcuacutea_PaZuacuteQPdivide[P]cuacute[uacute^[PbuacutebTQTQXh[Td[PugraveuacutePdivideuacute]uacute]TaZTiXZ^]ddh[PYacute]_[P]PIcircuacuteZP]^cT[STZPcQ^hd]RPhTaP[P]b^bhP[P[P]Zd[[P]uacuteuacute]SPQP[^bP[^]deTb_PZd[[P]uacute[PauacutehTaP[PZcPSuacutea

PROGRAM HotelSCOPE OF WORK 4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcCLIENT Pa^[a^_TachReal Estate LOCATION 1PhaP_PbP8bcP]Qd[TOTAL CONSTRUCTION AREA sqmSTATUS Ongoing

Agt94C0=8lt8)gtcT[Agt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)Pa^[HP_X6PhaXT]Zd[H4A)1PhaP_PugravePuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ΕϻΎλϪϳϓˬΔϓέϏ˼˾˹ϥϣϥϭϛΗϳˬϝϭΑϧργΎηΎΑϡέϳΎΑϲϓϩ΅ΎϧΑϡΗϝΎϣϋϕΩϧϓϪϧΕϭέοΧϟϕϭγ˰ΑϝλϭΗϟϊρΎϘΗϰϠϋϩΩΟϭΗΑίΎΗϣϳˬΕέοΎΣϣϟϭΕΎϋΎϣΗΟϻˬΔϳϋΎϣΗΟϻΕϻΎΟϣϠϟϪϧϣϥϳϘΑΎρϟϡΩΧΗγϡΗˬΓέϭρϘϣϟϭΓέρΎϘϟϑϗϭϣϭˬΔϠϣΟϟΎΑΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϭΔϳϘϳγϭϣϟΕϼϔΣϟϥϭϟΎλϪϳϓϭ

ϝϳϣΟΗϭ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έΎϘόϟϭ˯ΎϧΑϠϟϝϭέΎϛωϭέηϣϟΏΣΎλ

ϝϭΑϧργˬΎηΎΑϡέϳΎΑϝϣόϟϊϗϭϣ ˻ϡ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

37

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=45

=455[PcbPVuacutecWP]TR^Tbc^[XUTX]PdivideuacutecWP]TU^afW^fP]cbc^[XeTP]Sf^aZX]cWTRXchRT]cTac^TTccWTTg_TRcPcX^]bP]SSTP]Sb=455[PcbPVuacutecWP]TP]X_^acP]c[XeX]Vb_PRTP]SPZTbX]eTbcT]c^__^acd]XchfXcWcWT_a^UTbbX^]P[bfW^f^aZ^]1atildehatildeZSTaTBcaTTcSTeT[^_TSd]STacWTcaP]bU^aPcX^]^U]Tf^UUXRTP]SR^TaRXP[PRcXeXcXTbX]cWTPaTPbfWTaTSTP]SXbTg_TRcTSc^RaTPcTPQ^dc$_T^_[TX]cWTaTVX^]

0cTRW]^[^VhRT]cTaPbBX[XR^]EP[[ThVXP]cbbdRWPbQdbX]TbbRT]cTabP]SaTbXST]cXP[PaTPbPbfT[[PbcWT_[P]]TS2T]STaTEP[[ThcWT[^]VPfPXcTSW^T[XUTR^TbfXcW=455[PcbPVuacutecWP]T

CWT_a YTRcSTeT[^_T]cR^_aXbTbfXcWX]Pc^cP[R^]bcadRcX^]PaTP^U $b`P]SXbaXbTS^] P]S bc^aThaTbXST]cXP[Q[^RZbfXcWcWTc^cP[ U[Pcb

=455[PcbPdivideuacutecWP]TugraveTWaX]TaZTiX]SThPugravePPZeThPIcircP[uacuteugravePZXbcThT][TaX]catildeQTZ[T]cXeTcP[TQX]XZPaugraveuacute[PPZXIcircX]PdivideuacutecWP]TSTWPhPcPVTIcircXh^a1atildehatildeZSTaT2PSSTbXatildeiTaX]STIcircP[uacuteugravePZcP^[P]_a^UTbh^]T[[TaX[TSYacute]atildeugraveatildeZP_bPuacute]SPVT[XugravecXaX[T]hT]X^UXbeTcXRPaTcP[P][Pauacute]SPIcircP[uacuteugravePbuacuteQTZ[T]T]$ZXugraveX]X]QYacute[VTSThPaPccuacutedivideuacutecP[T_=455[PcbPdivideuacutecWP]TXYacute]T[XQXahPugravePP[P]uacuteeThPcuacuteauacuteUuacuteabPcuacuteWP[X]TVTcXaXh^a

uumlIcircTaXbX]STBX[XZ^]EPSXbXVXQXSTeQXacTZ]^[^YXTaZTiX]X]hP]uacutebuacuteaPXugraveTaZTi[TaXeTZ^]dcP[P][Pauacute]uacute]SP_[P][P]Suacutedivideuacute2T]STaTEPSXbX]TYacutei[T]T]TeWPhPcuacute=455[PcbPdivideuacutecWP]TX[TVT[Xh^a $X]ugravePPcP[P]uacute]PbPWX_ eT ZPc[uacuteXZXZ^]dcQ[^divided]SP]^[dugraveP]=455[PcbPdivideuacutecWP]T_a^YTbX]STQ^hdc[PauacuteX[T$aPbuacute]SPSTdivideXugraveT] PSTcZ^]dchTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

ϲϓϝϣόϟϭεϳόϟΎΑϥϳΑϏέϠϟˬ ϪϧΎΧΕϳϏΎϛϲϓˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣΫϳϔϧΗϡΗϰϠϋΓΩϭΟϭϣϟΔϳϧϬϣϟϝΎϣϋϷˬ ΕΎόϗϭΗϟϭΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡϳΩϘΗΑϝϔϛΗΙϳΣˬ ΔϧϳΩϣϟίϛέϣωϭέηϣϝόΟϳˬ ΏΗΎϛϣϟϭΓέΎΟΗϟϝΎϣϋϲϓιΧη˻˾˹˹ ˹ϝϣϋϊϗϭΗϭˬ ϩέΩϙϭϳϭΑωέΎη

εϳόϠϟίϳϣϣΎϧΎϛϣϭΔϳέΎϣΛΗγϻΕϻΎΟϣϟϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧΎ˯ηϧΈΑρϳρΧΗϟϡΗϳϭˬ ΔϣΧοΎϳΟϭϟϭϧϛΗίϛέϣˬ ϥϭϛϳϠγϱΩϭϝΛϣΔϗϼϣϋΔϳέΎΟΗίϛέϣϱϭΣϳΡϭϣρϪΗϳΑϠΗΑˬ ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣίΎΗϣϳϭˬ ϩέΩϧΟϱΩϭϡγΎΑϱέΎΟΗίϛέϣ

ϥϣϥϭϛΗΗ˺ ˽ϭ˺ ˺ϕΑϭρϟϭ ϡ˻˺˽˾˹ ˹ΔΣΎγϣϰϠϋ˯ ΎϧΑϟΫϳϔϧΗϡΗϓˬ ΔϗΎΗηϣϟΔϳϟίϧϣϟΓΎϳΣϟ˺˽ ˿ΎϬϳϓˬ ϥϳΗϋϭϣΟϣϥϣ˹ ϪϧΎΧΕϳϏΎϛαΗϼϓϑϧωϭέηϣϥϭϛΗϳϭΔϳϧϛγϟϝΗϛϟϥϣϥϳϧΛ

˻ϡ˾ ˿ϰϟ ϡ˻˽ ˹ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬ ΔϘη

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˽˻˾˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

38

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=45gt8=CB

PVXcWP]TaTVX^]fWXRWXbcWTbWX]X]VbcPa^UaTRT]chTPabfXcWcWT[PaVTbRP[TSX]eTbcT]cbSTeT[^_bcaP]b_^acX]UaPbcadRcdaTP]SQTRPdbT^UXcb_a^gXXchc^cWTPgXbltPb[PZTeT]cCPZbX^UcWT4da^_TP]bXSTXbaP_XS[hQTR^X]VcWT]TfQdbX]TbbRT]cTa=45^X]cbXb[^RPcTSeTahR[^bTc^cWTltTca^[X]T6^ZcdaZbP]SXbUPaPfPh^U Zc^2T]STaTBcaTTc Zc^2PV[PhP]2^dacW^dbT $Zc^TeT]cP]h^]BW^__X]VltP[[

CWTc^cP[R^]bcadRcX^]PaTP^U b`UPRX[XchPZTbPSXUUTaT]RTX]W^bcX]VcWTXa^f]b^RXP[Pb_TRcb^UcWTa^YTRc

CWTa^YTRcSTeT[^_T]cWPb bc^aThaTbXST]cXP[Q[^RZfWXRWR^]bXbc^UU[Pcch_TbaP]VX]VUa^bdXcTb fXcWcWTb`^U

B^]huacute[[PaSPhP_uacute[P]hPcuacuteauacute[Pa[Phuacute[Suacuteiuacute_Pa[PhP]PdivideuacutecWP]TVT[XugraveT]d[PugraveuacuteP[chP_uacutebuacuteeTltPb[PZTeT]cCPZbXPZbuacute]PhPZuacute][uacutedivideuacute]TST]Xh[T0ead_PhPZPbuacute]uacute]hT]XXugraveTaZTiX^[Ph^[d]SPWuacutei[PX[Ta[Xh^a=45^X]cb2T]STaT2PSSTbX]X] ZregPdivide[PhP]0S[XhTbX ZeTP]h^]0[uacuteugraveeTaXugraveltTaZTiX]X] $ZeTTeT]c6YacuteZcatildeaZltTca^WPccuacute]uacute]Icirc^ZhPZuacute]uacute]SPhTaP[PZcPSuacutea

C _[P X]ugravePPcP[P]uacute]SPZT]SXb^bhP[cTbXb[TaX]XQPauacute]SuacuteaP]_a^YTQdhYacute]atildeh[TUPaZhPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=45^X]cb_a^YTbX]ST ampPSTcZ^]dchTaP[PZcPSuacutea X[TPaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXQd[d]PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)PdivideuacutecWP]TuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ϡΩϘΗΗˬΓέϳΧϷΕϭϧγϟϲϓΔϳϟΎΗΗϣϟΕέΎϣΛΗγϻΎΑΎϬϣΟϧϊργϲΗϟϪϧΎΧΕϳϏΎϛΔϘρϧϣϥΈϓΔϳϧΑϟΔϳϣϧΗΏΑγΑϙϟΫϭϝϭΑϧργΎΑϲΑϭέϭϻϡγϘϟϲϓΎϳέΎΟΗίϛέϣΎϬϧϭϛϕϳέρϲϓΔόϳέγ

ϡϳγϘΗΕϧϔϟϙϼλϣέϳγρΧϥϣΎϬΑέϗϭΕϼλϭϣϠϟΔϳΗΣΗϟέλϘϟϥϣϡϛ˺ ˼ϭ ˬϡϛ˺ ˻˰ΑϩέΩϧΟωέΎηϥϣΎΑϳέϗ˹ ˽αΗϧϳϭΑϑϧωϭέηϣϊϘϳΔρΣϣϥϣΩΟΏϳέϗϪϧϭˬϥϭϳϧΎϛϱέΎΟΗϟίϛέϣϟϥϣϡϛ˺˾ϭˬϥΎϳϼϏΎΟϲϓϲϟΩόϟ

ϙέϭΗϛϭϏΕϧϔϟϕΎϔϧϻϭέΗϣ˻ϡ˺˹˹˹ ˹ΔΣΎγϣϰϠϋΎϬϣϳυϧΗϡΗϲΗϟΔϳϋΎϣΗΟϻΕϻΎΟϣϟϰϠϋϪϭΗΣΎΑίΎΗϣϳϭ

ΡϭέΗΗϭˬΔϳϧϛγΔϘη˺˼ ϥϣοΗϳΙϳΣϕΑΎρ˺ ˽ϥϣϥϭϛΗϳϪϧϭˬ˯ΎϧΑϠϟϲϠϛϟϊϣΟϣϟϝΎϛηϷΔϔϠΗΧϣ˺ ˻ˬ˺ ˺ΔΣϧΟΩΟϭΗϭ ˬ˻ϡ ˽ϰϟ˻ϡ˽ ˺ϥϣϕϘηϟΔΣΎγϣ

ϡϳϣΎλΗϟϭ

ΔϳϗΩϧϓΔϣΎϗαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˻˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

39

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=45divideugravedivideugrave

BXcdPcTSX]BXb[X8bcP]Qd[bQdbX]TbbP]S[XUTbch[TRT]cTa=45B8B8XbeTahX_^acP]cc^RaTPcTP]X]eTbT]c^__dacX]Xch

2^]bXbcX]V^UPbc^aThaTbXST]cXP[Q[^RZ^U$ aTbXST]cXP[d]XcbcWTa^YTRcSTeT[^_T]cX]R[dSTbU[PcbaP]VX]VUa^ b`c^b`dbPVT^UbdXcTb P]S U[Pcb

uumlbcP]Qd[d]XugraveeThPugravePTaZTiXoslashXugrave[XSThTaP[P]=45oslashuumloslashuumlZ^]ddh[PSTdivideTaX]XZPc[PhPaPZIcirc^ZYacute]T[XQXahPcuacuteauacuteUuacuteabPcuacutehPaPcPZcPSuacutea

ZPc[uacuteZ^]dcQ[^divided]SP]^[dugraveP]=TUoslashXugrave[X_a^YTbX]ST$ PSTcZ^]dchTaP[PZcPSuacutea X[T

PaPbuacute]SPSTdivideXugraveT]bdXcTb Z^]dc[PaXIcircX]UPaZ[uacuteSPXaTcX_[TaXhTaP[PZcPSuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)CXdaReal Estategt20C8gt=) BXb[X8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $sqmBC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)CXda6PhaXT]Zd[H4A)oslashXugrave[XuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ίϛέϣέΑΗόΗϲΗϟˬϝϭΑϧργΔϧϳΩϣΑϲϠηϳηΔϘρϧϣϲϓΩΟϭΗϣϟϲϠηϳηϑϧωϭέηϣωϭέηϣϟέΎϣΛΗγϼϟΓΩϳέϓΔλέϓϳΗΗϭίϳϣΗϣϟϪόϗϭϣΑϪΗϣϳϗϑϋΎοΗΗˬϝϣόϟϭΓΎϳΣϠϟ˽ϰϟ˻ϡ˽˺ϥϣϕϘηϟΔΣΎγϣΡϭέΗΗϭˬΔϳϧϛγΔϘη˾˺ϪΑϭϕΑϭρ˿ϥϣϥϭϛΗϣ

ϡϳϣΎλΗϟϭϝΎϛηϷΔϔϠΗΧϣ˺˻ˬ˺˺ΔΣϧΟΩΟϭΗϭˬ˻ϡ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18ϝϭΑϧργϲϠηϳηϝϣόϟϊϗϭϣ

˻ϡ˾˼˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

41

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E80CDI0lt0Augrave=0

gt]V^X]VR^]bcadRcX^]^UP__a^gXPcT[hQTSbRP_PRXchfXcWPaX]Pa^YTRc[^RPcTSX]Cdi[PEXPCdi[PltPaX]PR^]bXbcb^UP]^_T]bW^__X]VbcaTTcbW^cT[fPcTaVPTbfTXVWcTScWTPcXRPdbTT]c_PaZcTaaPRTbRPUTbaTbcPdaP]cb_PaZbRWX[SaT]b_[PhVa^d]S^dcS^^ab_^acbUXT[SbfP[ZX]V_PcWbbW^fPaTPbP]SU^acWTUXbWTaT]X]cWTPaTPX]R[dSTUXbWX]VbWT[cTa8]PSSXcX^]eXbXc^ab_PaZX]Vb_PRTbPaT_[P]]TSU^a$RPaRP_PRXch

Cdi[PSPhP_uacuteuacuteSTePTST]hPZ[PugraveuacuteZhPcZP_PbXcTbX]TbPWX_^[P]PaX]P_a^YTbXXIcircTaXbX]STPIcircuacuteZP[uacuteugraveeTaXugraveRPSST[TaX^cT[bd^hd][PauacutePdivideuacutea[uacuteZ[uacutecTPcXZTdivide[T]RT_PaZuacutebThXacTaPb[PauacuteRPUTaTbc^aP]_PaZ[PaIcirc^RdZ^hd]P[P][PauacutePIcircuacuteZb_^aP[P][Pauacutehatildeaatildehatildeugraveh^[[PauacuteVYacutebcTaXP[P][PauacuteeTQYacute[VTSTZXQP[uacuteZIcircuacute[PaXIcircX]QP[uacuteZIcircuacuteQPauacute]PdivideuacutehTaP[PZcPSuacutea0hauacuteRPiXhPaTcIcircX[TaXIcircX]$PaPIcirc[uacuteZ^c^_PaZ_[P][P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)4gTRdcXeT0aRWXcTRc284=C)Cdi[Pltd]XRX_P[Xchgt20C8gt=) Cdi[P8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) sqmlt0A8=40A40) sqmBC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)4gTRdcXeT0aRWXcTRcugravedivideE4A4=)Cdi[P1T[TSXhTbXH4A)Cdi[PuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

lt0Augrave=000=8)

3DADlt)3TeP4ST]

ϕϭγΗϟωέϭηωϭέηϣϟϲϓϭˬΏέΎϗ˹˹ΕϳΑϣϟϊγϳϱέΣΑ˯Ύϧϳϣ˯ΎϧΑΑϝλϭΗϧϕΩΣˬϡϋΎρϣˬϰϬϘϣˬϲηϣϟΔϔλέˬΔϳΎϣΏΎόϟΎϬΑΔϳϬϳϓέΗϕΩΣˬϕΩϧϓˬΡϭΗϔϣϟϲϓϥϳΩΟϭΗϣϟϙϣγϟϱΩΎϳλϠϟΕϳΑϣϪϳϓϭˬΡέγϣˬΔΣϭΗϔϣΔϳοΎϳέΕηϧϣˬϝΎϔρ

έί˾˹˹˹˰ϟϲϔϛΗέϭίϠϟΕέΎϳγϑϗϭϣιϳλΧΗϰϟΔϓΎοϹΎΑϭˬΔϘρϧϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ ϻίϭΗΔϳΩϠΑωϭέηϣϟΏΣΎλϝϭΑϧργϻίϭΗϝϣόϟϊϗϭϣ

˻ϡ˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ˻ϡ˼˻˹˹˹˹˯ΎϧϳϣϟΔΣΎγϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

43

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

44

E80CDI0lt0Augrave=0

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

020A4=CA4Iugrave30=B

1ThZ^iSXbcaXRc^U8bcP]Qd[fWXRWXb^]T^UcWT^bc_aTbcXVX^db[^RPcX^]bX]cWT]TXVWQ^aW^^SPaT0RPa[PaX]R^]caPbcc^^cWTaW^dbX]V_a^YTRcbfPbPXTSc^_aTbT]cP[dgdaX^dbaTbXST]RT[XUTP]SX]R^a_^aPcTS]PcdaT

CWT_a^YTRcWPbPc^cP[R^]bcadRcX^]PaTP^U$b`fXcWPWXVW[TeT[UTPcdaTbcWPcPaTTg_TRcTSc^[TPSc^cWT^cWTaaTbXST]cXP[_a^YTRcb

uumlbcP]Qd[d]T]_aTbcXY[XhTa[TugraveXhTa[TaX]ST]^[P]1ThZ^iX[IcircTbX]X]0RPa[PaltPWP[[TbX]STSXdivideTaZ^]dc_a^YT[TaX]X]PZbX]TS^dividePh[PQatildecatilde][TugraveXZ[atildeZbQXaaTiXSP]bhPugravePuacutebd]d[PbuacuteWTSTU[T]XugravecXa

C _[PSP$X]ugravePPcP[P]uacute]PbPWX_^[P]_a^YT]X]bPWX_^[SddividedatildebcSatildeiThYacuteiT[[XZ[TaXh[TSXdivideTaaTiXSP]b_a^YT[TaX]TYacute]Ratilde[atildeZTSTRTdivideXSatildeugraveatilde]atilde[TZcTSXa

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)TPS0aRWXcTRc284=C)3gtBC2^]bcadRcX^]a^YTRcltP]PVTT]c2^gt20C8gt=) 1ThZ^i8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $$$sqmBC0CDB) Ongoing

Agt94C0=8lt8)ATiXSP]bAgt940B0lt8)TPS0aRWXcTRcugravedivideE4A4=)3^bcuuml]ugravePPc0oslashH4A)1ThZ^iuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$$$

3DADlt)3TeP4ST]

ϑϼΧΑΔόϳΑρϟϊϣΔϣΟγϧϣΓέΧΎϓΔϳϗΩϧϓΓΎϳΣϡϳΩϘΗϭϫωϭέηϣϟΫϫΫϳϔϧΗϥϣϑΩϬϟϲΗϟϝϭΑϧργϲϓίϭϛϳΎΑΔϘρϧϣΑέϻέΎΟϲΣϲϓϙϟΫϭˬΔϳΩϳϠϘΗϟΔϳϧϛγϟϊϳέΎηϣϟ

ϝΎΟϣϟϲϓϊϳϓέϟϯϭΗγϣϟϭΫΔϳϧϛγϟϕρΎϧϣϟέϬηϥϣέΑΗόΗϊϳέΎηϣϟΩέΎΟΫϭϣϧϥϭϛϳϟ˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟϰϠϋϪϣϳϣλΗϡΗΩϘϟ

ϯϭΗγϣϰϠϋΕίϳϣΑϪόΗϣΗϟϙϟΫϭΩόΑϥϣΎϫ΅ΎϧΑϥϛϣϳϲΗϟαϧΩϳί

ΔϳϗΩϧϔϟΔϣΎϗϻαϧΩϳίέωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟ˯ΎϧΑϠϟΕγϭΩΔϛέηωϭέηϣϟΏΣΎλ267oslash1ugrave$$7$ugraveϝϭΑϧργίϭϛϳΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˾˽˾˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

47

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

020A4=CA4Iugrave30=B

48

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

CAtilde1ugraveC0lt0AC4

CatildeQXcPZltPaPaPCTZ]^_PaZR^_aXbTbWPc^cP[PaTPX]CdQXcPZ6TQiT2P_dbP]ScWTaTU^aTWPbXcbTUUXRXT]cPRRTbXQX[XchfXcWX]cWTd]XeTabXchP]SX]SdbcaXP[aTVX^]b2aTPcTSfXcWcWTdaQP]STbXV]RP_dbfXSTcaP]b_^ac]Tcf^aZfXcWcWTX_a^eTT]cbPSTX]PaTPbbdRWPbX]UaPbcadRcdaT^]cWTRP_dbc^RaTPcTeP[dTP]SSTbXV]bcaPcTVXTbU^a_a^eXSX]V_dQ[XRQT]TUXcbWPeTQTT]aTeTP[TS4UUTRcXeT[hP]STUUXRXT]c[hdbPVT^URP_dbb_PRTRP_dbXbPQ[Tc^PSP_cfXcW^dcR^_a^XbX]VcWTXST]cXchP]SXbX]cT]STSc^QTaTbXbcP]cc^]PcdaP[SXbPbcTab

2P_dbfXST]Tcf^aZ^U_TSTbcaXP]caP]b_^acPcX^]b_^acbP]SaTRaTPcX^]PaTPbcWa^dVW^dccWTRP_dbRd[cdaTP]SU^Rdb^]X]cTVaPcX]VP]SRaTPcX]VbW^^cX]Vb_PRTPXTSPc_a^eXSX]V_dQ[XRQT]TUXcb

CAtilde1uumlC06TQiTHTa[TugraveZTbXXIcircX]SThTaP[P]CatildeQXcPZltPaPaPCTZ]^_PaZc^_[PWPP[P]uacuteZP_[PPZcPSuacuteahPZuacute]IcircTeaTbX]STQd[d]P]atilde]XeTabXcTP[P][PauacuteeTbP]PhXQYacute[VT[TaXXIcircX]STZXXugrave[TebT[STdivideTaXeTd[PugraveuacuteX[XugraveZX[TaXS^[Phuacutebuacuteh[P^[SdZIcircPT[eTaXugrave[XQXaUXiXZbT[Z^]dPbPWX_cXagt[dugravecdad[P]ZT]cbT[cPbPauacuteX[TZP_atildebYacute[IcircTdivideX]STd[PugraveuacutePdivideuacuteP[chP_uacuteVXQXP[P][PaSPhP_uacute[P]XhX[TugravecXaT[Ta[ThTa[TugraveZThTSTdivideTaZPcuacute[PbuacuteeTZPdbP[hPaPa[PabPdivide[P]Pbuacute]PhYacute]T[XZcPbPauacutebcaPcTYX[TaX^acPhPZ^]dugravecda

HPaPcuacuteRuacute[uacutedivideuacute]hP[]uacuteiRPb^bhP[^acP[Pauacute]^[dugravecdad[PbuacuteX[TPacPRPdivideuacuteP][Phuacuteugraveuacute]PSPhP]PaPZZP_atildebXIcircX^acPZP[P][Pauacute]Pacuacuteauacute[Pbuacuteb_^aeTaTZaTPbh^]P[P][PauacuteX[TSTbcTZ[T]TbXZP_atildebYacute[IcircTdivideX]SThPhPd[PugraveuacutePdivideuacuteb_^aeTaTZaTPbh^]P[P][PauacuteeTZatilde[catildea^SPZ[PauacuteX[TQatildecatilde][TugravecXaX[TaTZhTa[TugraveZTQatildecatilde]atilde]STIcircTZXP[P][PauacutehPaPcPZWTSTU[T]XugravecXa

Agt6A0lt)2P_db3TbXV]P]SA31dX[SX]VB2gt4gt5FgtA)P]SbRP_T3TbXV]P]S0aRWXcTRcdaP[2^]RT_c284=C)CdQXcPZltPaPaPCTRW]^RXch2^gt20C8gt=) 6TQiT^RPT[XCgtC02gt=BCAD2C8gt=0A40) WPBC0CDB) Ongoing

Agt94C0=8lt8)P_dbCPbPauacuteuacuteeT0aVT1X]PbuacuteAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)CatildeQXcPZltPaPaPCTZ]^ZT]c0oslashH4A)6TQiT^RPT[XCgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ˬϩίΑϏΔϘρϧϣϲϓΔΣΎγϣϟϥϣ˻ϡ˿˺˹ ΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗωϭέηϣϝϐηϳˬϝλϭΗϟϲϓϪρΑέΗΑϭΔϋΎϧλϟϕρΎϧϣϭΕΎόϣΎΟϟϲοέϥϣΏϳέϘϟϪόϗϭϣΑίΎΗϣϳϭ

ρϳρΧΗϟΎΑϭΔϔϠΗΧϣϟΕϻΎΟϣϟϲϓέΎϣΛΗγϼϟϪϳοέΔϳΣϼλϟΔϳϓΎοΔϣϳϗΏγΗϛϙϟΫϟΔϠϣΎϛΗϣϟΔϳΗΣΗϟΔϳϧΑϟΔϳϣϧΗΑϭΕΎόϣΎΟϠϟΕϼλϭϣϟΔϛΑηϕϳγϧΗϭΔϧϳΩϣϠϟϱέΎϣόϣϟ

ϡϳϣλΗϟΕΎϳΟϳΗέΗγϰϠϋϊΟηϭˬΔϳέΎϘόϟΔϣϳϘϟΓέϭΎΟϣϟΔϳϧϛγϟΔϘρϧϣϠϟϑΎοˬΔϘρϧϣϠϟΔϳϣϭϛΣϟΕΎγγ΅ϣϟϟΎλϟ

ϙϟΫϡΗϓΔϳϋΎϣΗΟΕΎϳΑαϳγ΄ΗϥϋϻϡΗΗϻωέΗΧϻϲϓΔϋέΑϟϥ΄ΑΔϋΎϧϗϥϋΎϗϼρϧΔϳοΎϳέϟΕηϧϣϟΎΑΕϻΎΟϣϟϩΫϫϡϋΩϭϲόϣΎΟϟϡέΣϟϲϓΔϛέΗηϣϟΕϻΎΟϣϟϥϣέΎΛϛϻΎΑϕρΎϧϣΩΎΟϳϑΩϬΗγϡΗϭΕΎόϣΎΟϟϊϗϭϣϭϡΟΣϡϼϳΎϣΓΎηϣϕέραϳγ΄ΗϭˬΔϳϬϳϓέΗϟϭ

ΔϓΎϘΛϟίϛέϣϭϥΎϛγϟΎΑΝΎϣΩϧϻϲϓϡϫΎγΗΔΑΫΟ

έϳϭρΗϟϭΙΣΑϟϰϧΑϣϭˬϲόϣΎΟϟϡέΣϟϡϳϣλΗωϭέηϣϟΔϔλϱέΎϣόϣέϭλΗˬϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΕϧϛϭϧϛΗϩέΎϣέΎϣϙΎρϳΑϭΗΔϛέηωϭέηϣϟΏΣΎλ tuumlbitAk

0$50$5$7(12(17$ugraveϲϟΎΟϭϛϩίΑϏϝϣόϟϊϗϭϣ

έΎΗϛϫ˿˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

51

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

CDAD0Iugrave=4H=ugraveH0A

gt]Pb`PaTPX]Th]XhPaZSTeT[^_T]c^]QTWP[U^USTeT[^_TaCdaZdPiXb[^RPcTSX]0bcP]PPiPZWbcP]

CdaZdPicPaPUuacute]SP]PiPZXbcP]uacute]0bcP]PugraveTWaX]STWPhPcPVTIcircXaX[T]X]Th]Xh_PaZhPZ[PugraveuacuteZ^[PaPZc^_[PX]ugravePPcP[P]uacute]PbPWX_cXa

Agt6A0lt)PaZB2gt4gt5FgtA)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CdaZdPiH30gt20C8gt=) 0bcP]PPiPZWbcP]CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaZAgt940B0lt8)TPS0aRWXcTRc)3BltXPa[uacuteZ4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CdaZdPiH30H4A)0bcP]PPiPZXbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬίϭϛέϭΗϑέρϥϣϥΎΗγϳΧίϗ˰ΑϪϧΎΗγΔϧϳΩϣϲϓΎϫ΅ΎηϧϡΗϲΗϟϲϧϳΎϧϳϟΔϘϳΩΣ˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΎϬΗΣΎγϣ

ΔϘϳΩΣΞϣΎϧέΑϟ

ϕΩΣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟϭϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ6

mimArlik

ΩϳίϭϛέϭΗωϭέηϣϟΏΣΎλ7858$=lt$ϥΎΗγϳΧίϗˬϪϧΎΗγϝϣόϟϊϗϭϣ

˻ϡ˻˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

53

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

2gtA340CF8=B

BR^]HP_uacutePacP[XbP]RW^aTSQhcWT9E^UBR^]PhuacuteWP]2^]bcadRcX^]PbPXgTSdbT_a^YTRcCWTaTPaTU[PcbaP]VX]VUa^ bcdSX^d]Xcb $ampd]XcbP]Sc^ cTaaPRTdbTSSdQ[TgU[Pcb d]XcbX]cWTa^YTRcfWXRWXb[^RPcTSX]PacP[SXbcaXRcWPeX]VcWT_[TPbdaT^UPaeT[[^dbeXTf^UltPaPaPBTPCWTBR^]HP_uacuteSTeT[^_T]cQPbTS^]cf^Q[^RZbP]SXcXbPZX]S^Ua^YTRc[^RPcTSX]daQP]aTVT]TaPcX^]PaTP

BR^]PhuacuteWP]uuml]ugravePPc^acPZ[uacutedivideuacute]SPuumlbcP]Qd[PacP[SPVTaIcircTZ[TugravecXaX[T]BR^]HP_uacutePacP[c^_[PSPPSTcZ^]dcPSTc bcatildeSh^$ampPSTc PSTc eT cTaPbZd[[P]uacutePbPWX_SdQ[TgeTPSTccXRPaTcatilde]XcTbX]ST]^[dugraveP]ZPaPZd[[P]uacute_a^YTbXSXaa^YTP[P]uacuteZT]cbT[SYacute]atildeugraveatildeQYacute[VTbXXIcircTaXbX]STQd[d]PZcP^[d__a^YTcPbPauacutePugravePPbuacute]SPQd[d]SddividedPacP[QYacute[VTbX]X]TugravebXiST]XiP]iPaPbuacute]PcatildeSPXaT[TaX]WPZX^[PbuacuteTbPbP[uacute]uacuteugravecuacutea

Agt6A0lt)ATbXST]cXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C)PhuacuteWP]BR^]Pac]TabWX_gt20C8gt=) PacP[8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)^]dcAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)PhuacuteWP]BR^]0SXgtacPZ[uacutedivideuacuteH4A)PacP[uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ωϭέηϣ6amp21lt$3$57$ˬϝϭΑϧργϝΎρέΎϗϲϓϩΫϳϔϧΗϡΗϳϱΫϟˬϭϳΩϭΗγ˹˺ΓΩΣϭ˼˹ΔϳϧϛγΓΩΣϭ˻˹˼ϥϣϥϭϛΗϳˬ˯ΎϧΑϠϟϥϭϛγϥΎϬϳϳΎϗΔϛέΎηϣΑΔϳέΎΟΗΕΩΣϭ˼ϭΔϓέηϟϊϣαϛϠΑϭΩ˺˻ϭ˺˻ΓΩΣϭ˺˺˻ˬ˺˺ΓΩΣϭ˾ϕϘηϟϡϳϣλΗϡΗϭˬϱέοΣϟΩϳΩΟΗϟωϭέηϣϥϣοωϭέηϣϟϊϘϳϭˬϡΩΧΗγϻΓΩΩόΗϣ

ϲϓΓΩϳέϔϟϊϳέΎηϣϟϥϣΩόΗΓέϬΑϣϟΓίϳϣϟϩΫϬΑϭέΣΑϟϰϠϋΎϬόϳϣΟϝρΗΙϳΣΑϝΎρέΎϗ

ϥϛγωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣϭϱέΎϣόϣϟΫϳϔϧΗϟωϭέηϣϟϕΎρϧ

ϥϭϛγϥΎϬϳϳΎϗϥϳΑΔϳΩΎϋΔϛέΎηϣωϭέηϣϟΏΣΎλ$lt+$1plusmn6amp21$257$ouml

ϝϭΑϧργϝΎρέΎϗϝϣόϟϊϗϭϣ ˻ϡ˽˹˾˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

55

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

4lt0gt=DCfrac12A54I4=C4C0

CWTSTeT[^_T]cfX[[RaTPcTP]TfaTbXST]cXP[STeT[^_T]cR^]bXbcX]V^UaTcPX[aTbXST]cXP[[TXbdaTX]uumlbcP]Qd[uumliXcYacuteaUTi3XbcaXRcfXcWbXV]XUXRXP]c]Tf_TSTbcaXP][X]ZbP]SRXeXRb_PRTbCWXbfX[[RaTPcTX]RaTPbTSR^]]TRcXeXchP]S_TaTPQX[XchX]cWTWTPac^Uc^f] (aTbXST]cXP[SfT[[X]VbX]QdX[SX]Vb^UePahX]VU[PcbUa^ $d]Xcb $ampd]Xcbc^ d]XcbP]S(R^TaRXP[d]XcbCWTSTeT[^_T]cR^_aXbTb (ampb`c^cP[PaTPP]Sb`c^cP[R^]bcadRcX^]PaTPc^cPc[[hampQ[^RZbX]R[dSX]V b`dPaTU^aP]S aTRcP]Vd[PaU^a

4[PZ^]dc6Hgt0oslashcPaPUuacute]SP]hP_uacute[PZcP^[d_c^_[PampQ[^ZcP]^[dugravePZcPSuacuteaYacuteaUTia^YTbXXIcircTaXbX]ST$PSTc $ampPSTc eT PSTc SPXaT^[d_c^_[PSP (Z^]dceT(cXRPaTcatilde]XcTbX]ST]^[dugraveP]Z^]dc_a^YTbXSXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)4[PZ^]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=) ^aUTi^RPT[XCgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)YacuteaUTi^RPT[XCgt0ltugrave=divide00C00=8)$

3DADlt)3TeP4ST]

ϥϭϛΗϳϪϧϭˬΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηϝΑϗϥϣϩΫϳϔϧΗϡΗϳϲϧϛγϟωϭέηϣϟΫϫΔϘη˾˼ϭˬ˺˻ΔϘη˾˹˽ϪΑΩΟϭϳίΎϓέϭϛωϭέηϣϥϣοϪϧϭˬΓέΎϣϋ˻ϥϣ

ΔϳέΎΟΗΓΩΣϭ˻ΔϳϧϛγΓΩΣϭ˺˹˽ωϭϣΟϣϟϭ˺˽ΓΩΣϭ˿˺ϭˬ˺˼

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟϭϳΟϥϛγϠϟϙϼϣΔϛέηωϭέηϣϟΏΣΎλ emlAk konut

lt2$ugraveϲϟΎΟϭϛίΎϓέϭϛϝϣόϟϊϗϭϣ

˻ϡ˻˻˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

57

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

=45(

8]cWTXSS[T^U8bcP]Qd[bQdbX]TbbRT]cTa[^RPcTSX]1dhdZSTaTBcaTTc=45gtUUXRTb3^ac[TeT]c(R^]bXbcb^Ucf^_PaRT[b^Uc^cP[_[^cPaTPb`CWTSTeT[^_T]cR^]bXbcb^UP__a^gXPcT[hb`aXbX]V^]cf^Q[^RZbFXcWX]R[dSX]VQ^cW^UUXRTbP]SaTbXST]cXP[bd]XcbcWTQ[^RZbR^_aXbTb bc^aThbgtUUXRTd]XcbaP]VX]VUa^$b`c^ b`aTbXST]cXP[d]XcbaTcPX[d]XcbU^[S^UUXRTbc^aThbP]SRPa_PaZX]VPaTPb

uumlbcP]Qd[XugraveTaZTiX]X]cP^acPbuacute]SP1atildehatildeZSTaT2PSSTbX]SThTaP[P]=45gtUUXRTb3Yacuteac[TeT]c(c^_[PPabPatildeiTaX]STXZX_PabT[ST]^[dugravePZcPSuacuteauumlZXQ[^ZatildeiTaX]STZ^]d[P]P]_a^YT]X]c^_[PX]ugravePPcP[P]uacutehPZ[PugraveuacuteZSXa ZPc[uacute01[^ZcP ^UXbZPcuacute]SP ^UXbQXaXXZ^]dcZPcuacute]SPZ^]dcQXaXXeTPdividePiPZPcuacute]SPPdividePiPQXaXXhTaP[PZcPSuacuteaHX]T ZPc[uacute11[^ZcPXbT ^UXbZPcuacute]SP$^UXbQXaXXeTPdividePiPZPcuacute]SP PdividePiPQXaXXhTaP[PZcPSuacutea$TcaTZPaTh[T TcaPZPaTPaPbuacute]SPSTdivideXugraveT]^UXbatilde]XcT[TaX]X]hTaP[SuacutedivideuacuteWTaXZXQ[^ZcPSPPhauacuteRPPdividePiPP[P][Pauacute^acPZ=45ThSP]PaugraveXeXIcircX]SatildeiT][T]XugraveQ^SadZPc[Pauacute5^[S^UUUXRTatilde]XcT[TaX]X]Qd[d]SddividedZPc[PaeThTaP[cuacute^c^_PaZZPc[PauacuteQd[d]PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)CXdaATP[4bcPcTgt20C8gt=) TeT]c8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB) Ongoing

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)CXda6PhaXT]Zd[H4A)TeT]cuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωέΎηϲϓ ϡ˻˼˿˹ ˹ΔΣΎγϣΑνέϥϳΗόρϗϰϠϋˬ ΕϧϔϟΕέϭΩαϳϓϭϑϧωϭέηϣ˯ ΎϧΑϡΗΔϳϠϛϟΔΣΎγϣϟϰϠϋϥϳΗέΎϣϋϥϣωϭέηϣϟϥϭϛΗϳϭˬ ϝϭΑϧργΎΑϱέΎΟΗϟίϛέϣϟργϭϩέΩϙϭϳϭΑϕΑϭρϟ˺ ˹ϲϓΔϳΑΗϛϣΓΩΣϭ˺˹ Ύ˺Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΓέΎϣϋ ϡ˻˽˽˹˹ ˹˯ ΎϧΑϠϟιλΧϣϟϥϳϘΑΎρϟϲϓϭˬ ΔϳϧϛγΓΩΣϭ˽ ΎϬΑΩΟϭϳΔϳϧϛγϟΔόΑέϷϕΑϭρϟΎϣϭˬ ΔϳΑΗϛϣϟ˻˾ Ύ˼Ϭϳϓˬ ϕΑΎρ˺ ˿ϥϣϥϭϛΗΗΏΓέΎϣϋϙϟΫϛϭΔϳέΎΟΗΕϼΣϣΙϼΛϪϳϓΩΟϭϳΕϼΣϣϠϟ˺ ˽ΎϬϳϓΩΟϭϳΕϼΣϣϠϟΔλλΧϣϟϕΑϭρΙϼΛϲϓϭˬ ΔϳΑΗϛϣϟϕΑϭρϟ˺ ˼ϲϓΔϳΑΗϛϣΓΩΣϭ

ΎϳέΎΟΗϼΣϣϥϳΗέΎϣόϟϼϛϲϓΓέϓϭΗϣϟ ϡ˻˺˺ ϭ˹ ϡ˻˾ ˹ϥϳΑΡϭέΗΗϲΗϟϪΑΗΎϛϣΔΣΎγϣΑωϭέηϣϟίΎΗϣϳΎϬλϳλΧΗϡΗΔϳοέϕΑϭρϭˬ ϑϧϥΩϳϣϭΕϼΣϣϟϡΎϣΔόγϭϟΕΎΣΎγϣϟϰϟΔϓΎοϻΎΑ

ΕέΎϳγϑϗϭϣϟΔϳϠϔγϕΑϭρϭϑϳηέϸϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2ΕέΎϘόϠϟέϭϣϳΗωϭέηϣϟΏΣΎλ7085$lt50(18

ϝϭΑϧργΕϧϔϟ ˽ϝϣόϟϊϗϭϣ ˻ϡ˽˽˹˹ ˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

έϣΗγϣωϭέηϣϟΔϟΎΣ

59

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E800=3

EXP[P]SR^QX]TbPcWTT_PaZfXcWP]TgWXQXcX^]RT]cTaP]SaTcPX[bW^_b^RPcTS^]P[P]S^Ub`P__a^gXPcT[hPbQXVPb b^RRTaUXT[SbEXP[P]SW^[SbPbXV]XUXRP]cX_^acP]RTX]cWTT]cTacPX]T]cbTRc^a^UCdaZTh

CWTbXcT^UEXP[P]SXb[^RPcTS^]PU^aTaR^P[X]TCWXbX]TXbUX[[TSd_fXcWdScWPc_d_TS^dcUa^6^[ST]7^a]7P[XRc^RaTPcTPQdX[SPQ[TbXcTCWTd]bcPQ[TVa^d]S^]cWTb^dcWXb^_TaPcTSfXcWbP[[d]Xcb^UQ^^cWbP]SPdbTT]ceTWXR[Tb^U[XVWcR^]bcadRcX^]fWX[TcWTaTcPX[P]SaTbcPdaP]cbPaTbXcdPcTS^]cWTd__Ta]^acWPaTPfWXRWWPbbcPQ[TVa^d]S_a^_TacXTb

EXP[P]ScTP_PaZX[TbTaVXTaZTiXeTP[uacuteugraveeTaXugraveTaZTiXZ^]bT_c[TaX]XQXaPaPhPVTcXaTZcTSXaTcaTZPaT[XZQXaP[P]PZ^]dugrave[P]uacuteugrave^[P]EXP[P]SCatildeaZXhTTdivide[T]RTbTZcYacuteaatilde]STYacute]T[XQXahTacTugraveZX[TcTZcTSXa

EXP[P]SbPWPbuacuteTbZXQXaZYacuteatildeaPST]XatildeiTaX]STQd[d]PZcPSuacuteauuml]ugravePPchP_uacute[PQX[XaQXaP[P]^[dugravecdaPZPSuacute]PPST]7P[XIcirccT]IcircuacuteZPauacute[P]IcircPdaX[TS^[Sdad[dugravecda6atilde]ThcPaPUuacute]SPZXiTX]atildeiTaX]STbcP]S[PaeTTdivide[T]RTPaPIcirc[Pauacute]SP]^[dugraveP]WPUXUX]ugravePPcQXaX[TaXePaZT]bPdivide[PiTX]atildeiTaX]ST^[P]ZdiThZuacutebuacuteSPXbTP[uacuteugraveeTaXugraveTaZTiXeTaTbc^aP][PaZ^]dugrave[P]uacuteugravecuacutea

Agt6A0lt)CWTTPaZ2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)4hd_8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) amp$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CTPPaZCXRPaXAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)6atildeab^h6a^d_EXPa^_TacXTb0SXgtacPZ[uacutedivideuacuteH4A)4hatilde_uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPP[P]Suacute

ΔόϘΑϲϓΔϳέΎΟΗϟίϛέϣϟϭνέΎόϣϟϭΔϳϋϭοϭϣϟϕΩΣϟΩϧϻΎϳϓωϭέηϣϊϣΟϲϓϲγΎγϊϗϭϣϰϠϋίϭΣΗγϳϪϧϭ˻ϡ˿˹˹˹˹˹ΔΣΎγϣϰϠϋϩ΅ΎϧΑϡΗϭˬΓΩΣϭ

ϡΗϭˬΎϣϳΩϗϡΣϔϟϡΟϧϣΔΣΎγϰϠϋωϭέηϣϟ˯ΎϧΑϡΗΎϳϛέΗϯϭΗγϣϰϠϋϪϳϓέΗϟϝΎΟϣΓϭΧέϟϊϗϭϣϟˬΎϬϳϠϋωϭέηϣϟΫϳϔϧΗϰϧγΗϳϰΗΣΞϳϠΧϟϥϳρϥϣΕΎϏέϔϟΔΑόΗ

ϲοέϷΎϣˬΔϔϳϔΧΔϳϧΑϭϪϳϓέΗϟΕΩόϣϭνέΎόϣϪϳϠϋϲϧΑΏϭϧΟϟϲϓΓΩΟϭΗϣϟϡϋΎρϣϭΔϳέΎΟΗίϛέϣΎϬϳϠϋϲϧΑϝΎϣηϟϲϓΓΩΟϭΗϣϟΔΑϠλϟ

ϱέΎΟΗΔϳϋϭοϭϣϕΩΣωϭέηϣϟΔϔλαΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt

52839$3523(57(6ϝϭΑϧργΏϭϳϝϣόϟϊϗϭϣ

˻ϡ˼˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

61

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

62

E800=3

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E80gtACE4=4I80

EXP_^acET]TiXPXbPXgTSdbTSTeT[^_T]cR^]cPX]X]VaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTb^RPcTSX]STeT[^_X]VRT]cTa^U8bcP]Qd[6PiX^bP]_PbPEXP_^acET]TiXP^UUTabP`dP[XchW^dbX]VP]S^UUXRTT]eXa^]T]cfXcWPUTT[X]V^UET]XRTfXcWaTe^[eX]VRP]P[bPa^d]ScWTSTeT[^_T]c

EXP^acET]TiXPcWPcXbTbcPQ[XbWTS^]P]PaTP^Ub`dPaTTcTa[P]Sc^cP[[hX]R^a_^aPcTb`dP[XUXTSW^dbTb$WXVWaXbTQ[^RZbfXcWPgXd$bc^aXTbPU^dabcPaW^cT[PbW^__X]VRT]cTafXcWPaT]cPQ[TPaTP^Uampb`dPaTTcTabP]S^UUXRTb_PRTbfXcWP]PaTP^U$b`dPaTTcTabATcPX[bc^aTbP]SbW^_bPaT[^RPcTSX]cWTXSS[T^UcWTSTeT[^_T]cfXcW[PaVTb_PRTbc^aTbbdaa^d]STSQhfPcTaRP]P[b7XVWcTRW^UUXRTb_PRTbWPeTPeXTfc^cWTbTET]TcXP]RP]P[b

EXP_^acET]TiXPZ^]dcatilde]XcT[TaX^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaX]X]Qd[d]SddividedZPaPZd[[P]uacuteP[P]uacute_a YTbXSXauumlbcP]Qd[d]VT[XugraveT]TaZTiX6PiX^bP]_PugravePSPZ^]dugrave[P]uacuteugrave^[P]EXP_^acET]TiXPZP]P[[Pa[PIcircTeaX[XSatildeiT][TTbXh[TET]TSXZWXbbXhPcuacutehPugravePcP]ZP[XcT[XZ^]dceT^UXb^acPuacutebd]PZcPSuacutea

EXP^acET]TiXPTcaTZPaT[XZQXaP[P]atildeiTaX]STbTIcircZX]Z^]dcPZbXd$ZPchatildeZbTZ[XdivideX]ST$Icirc^ZZPc[uacuteQ[^ZSYacuteachuacute[Suacutei[uacuteQXa^cT[ampTcaTZPaT[XZZXaP[P]PQX[XaP[P]PbPWX_P[uacuteugraveeTaXugraveTaZTiXeT$TcaTZPaT[XZ^UXbP[P]uacuteQd[d]SdaPZcPSuacuteaPSTcQatildehatildeZPdividePiPP[P]uacute]uacute]Qd[d]SddividedP[uacuteugraveeTaXugraveTaZTiXX]ugravePPcP[P]uacute]uacute]bdZP]P[[PauacuteX[TIcircTeaX[Xugrave^[P]^acPZuacutebuacute]SPZ^]dugrave[P]uacuteugravecuacuteaHatildeZbTZcTZ]^[ YXX[TS^]Pcuacute[uacuteugrave^UXbP[P][PauacuteQdZP]P[[PauacuteVYacuteaT]P]iPaPhPbPWX_cXa

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 6dab^h6a d_EXPa _TacXTb9 X]cET]cdaTgt20C8gt=)6PiX^bP]_PbP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1PhaPZcPa6atildeab^h8]eTbcT]cP]SltP]PVTT]cPac]TabWX_2^H4A)6PiX^bP]_PugraveP8bcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ˬΏΗΎϛϣϟϭˬ ΔϳϧϛγϟΕΩΣϭϟϪϳϓΎϣΑϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ ΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣΔϳϣΎϧΗϣϟϕρΎϧϣϟϥϣΎηΎΑϥΎϣΛϋϱίΎϏΔϘρϧϣϥΈϓΔοΎϳέϟϱΩϭϧϭϪϳϓέΗϟΕϻΎΟϣϭˬ ΕϼΣϣϟϭέόηϳΩϫΎηϣϟϝόΟΗϩΎϳϣΕϭϧϘΑϩέϳϭγΗϡΗΩϗΎϬϳϓϪϧϳηΩΗϡΗϱΫϟωϭέηϣϟϥϭˬ ϝϭΑϧργϲϓ

ΔϳέΎΟΗϟΏΗΎϛϣϟϭΔϳϧϛγϟΕΩΣϭϟΓΩϭΟϲϓΎϳϗέϭΟέϓϭΗϭˬ ϙϳΩΎϧϭϲϓϪϧ ΑΔϳϧϛγΓΩΣϭ˻˻˹ ˹ΎϬΑ ϡ˻˻˹˹ ˹ΎϬΗΣΎγϣνέϰϠϋΎϳίΎϧϭΕέϭΑΎϳϓωϭέηϣ˯ ΎϧΑϡΗίϛέϣϭˬ ϡϭΟϧ ˽ΔϓϥϣϕΩϧϓϭˬ έΛϛϷϲϓΎϘΑΎρ˾ ˹ϰϟϊϔΗέΗΕέΎϣϋαϣΧΎϬϳϓϭˬ ΓίϳϣΗϣ˻ϡ˾˹˹˹ ˹ΔΣΎγϣΑ˯ ΎοϓϥϣοΗΗΙϳΣˬ ΎϫέΎΟΗγϥϛϣϳ ϡ˻˹˹˹ ˹ΔΣΎγϣΑΔϳέΎΟΗ

ϙϠΗέϳϭγΗϡΗϭέϳΑϛϼΣϣ˻˹ ˹ϰϠϋϱϭΗΣϳϱέΎΟΗίϛέϣϭΏΗΎϛϣϟνέϏϲϓϝΎϣόΗγϼϟΔϳΎϣϟΕϭϧϘϟϙϠΗϰϠϋϝρΗϲϫϭΔϳϟΎόϟΔϳϧϘΗϟΎΑΎϫίϳϬΟΗϡΗΏΗΎϛϣϟˬ ϩΎϳϣΕϭϧϘΑΕϼΣϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

αΎϳΗέΑϭέΑΎϳϓϭϱϭλέϭϏΔϋϭϣΟϣΔϛέΎηϣϝϣόϟΏΣΎλh562lt52839$3523(57(6ϝϭΑϧργΎηΎΑϥΎϣΛϋϱίΎϏϝϣόϟϊϗϭϣ

˻ϡ˿˼˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

65

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E80gtACE4=4I80

66

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

B0583gt034A4

CWTbcPaBPUX3^[P_STaT7^cT[X]3^[P_STaT1Th^V[dSXbcaXRc^QcPX]TS_[P]]X]VU^acWTSTeT[^_T]c^Ub`PaTPP]S $b`c^cP[R^]bcadRcX^]PaTPCWTW^cT[STeT[^_T]cbR^]bXbcb^Uampbc^aThbCWTaTPaTPc^cP[^U a^^bb_[XcX]c^SXbPQ[TSa^^b ]^aP[P]SbdXca^^b

3^[P_STaT1Th^divide[d1Yacute[VTbX]STPabPP[P]uacuteeT $c^_[PX]ugravePPcP[P]uacute]PbPWX_BPUX3^[P_STaTgtcT[Xhuacute[Suacutei[uacuteQXaZT]c^cT[X^[PaPZcPbPa[P]uacuteugravecuacuteaa^YTSThTaP[P]c^_[P ^SP]uacute]atildeT]VT[[X[TaXIcircX]YacuteiT[cPbPa[P]uacute_^[d_ PSTcbcP]SPaceTbatildeXc^SP[PaQd[d]PZcPSuacutea

Agt6A0lt)7^cT[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) BPUXATP[4bcPcTgt20C8gt=)3^[P_STaT8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)BPUX6PhaXT]Zd[H4A)3^[P_STaTuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)3TeP4ST]

νέϰϠϋˬ˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϠϟ˻ϡ˺˺˻˾˹˹˰ΑϩέΩΏϻϭΩϲϓΎλϕΩϧϓ˯ΎϧΑϡΗϳΔϓϥϣϕΩϧϔϟϡϳϣλΗϡΗˬϩέΩΏϻϭΩϲϓϭϠϏϭϱΎΑΔϘρϧϣϲϓ˻ϡ˻˽˽˹ϪΗΣΎγϣϡΗϑέϏ˽ΎϬϧϣˬΔϓέϏ˺˹˿ϥϣϕΩϧϔϟϥϭϛΗϳˬϥϳϳϠΣϣϟϥΎϛγϟΕΎΑϠρΗϣϟϡϭΟϧ˼

ΔΣϧΟϭΔϳγΎϳϗϑέϏϲϬϓΔϳϗΎΑϟ˺˹˻ΎϣˬϥϳϗΎόϣϠϟΎλϳλΧΎϬϣϳϣλΗ

ϕΩϧϓωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟϲϓΎλΔϛέηϝϣόϟΏΣΎλ6$)$lt50(18ϝϭΑϧργϩέΩΏϻϭΩϝϣόϟϊϗϭϣ

˻ϡ˺˻˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

69

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

gtCgt0B010

CWTbRWTTWPbQTT]STbXV]TSfXcW_PacXRd[PaR^]bXSTaPcX^]VXeT]c^cWT_a^eXbX^]P]SX_a^eTT]c^UP]PRRTbbXQ[TQdbX]Tbb[P]SP]SP]T_WPbXb^]PRcXeTVa^d]SU[^^adbTbcWPcVT]TaPcT_TSTbcaXP]PRcXeXchgt]T^UcWTZThRWP[[T]VTbfXcWcWXbSTeT[^_T]cfPbcWTX_PRc^UX]ca^RdSX]VbdRWP[PaVTbRWTTfXcWX]bdRWPR^TaRXP[bT]bXcXeTbXcTCWT($b`c^cP[R^]bcadRcX^]PaTPSTeT[^_T]cXbP]RW^aTSQh3HP]SX]R[dSTb_[^cb^U$d]Xcb^UVP[[TaXTbR^TaRXP[d]XcbP]S_[PiPb_[PRTSPc $ $b`[P]SPSX]XbcaPcX^]RT]caTP]SVPb^X[bcPcX^]b_[PRTSPcampb`[P]S

gtCgt0B0103dP]ZPhPcPaPUuacute]SP]hP_uacute[PZcP^[P]PSPSP]^[dugraveP]c^_[PSP$PSTcVP[TaX $ $hThPhuacute[P]cXRPaXQXaX[TaeT_[PiP[PaeTamphThPhuacute[P]hYacute]TcXQX]PbuacuteeTPZPahPZuacutecXbcPbh^][PauacuteVXQXQXaIcirc^Zatilde]XcT[TaXQPauacute]SuacuteaP]QXaCXRPaTca^YTbXSXagtc^ZPbPQPa^YTbXX[TCatildeaZXhT]X]T]_aTbcXY[XbXcTbX]XVP[TaXRX[TaX]eTuumlbcP]Qd[d]WXiTcX]Tbd]PRPZ^[P]3HiXhPaTcIcircX[TaX]eTIcircTeaTP[P]bPZX][TaX]X]catildeb^bhP[eTcXRPaXXWcXhPIcirc[Pauacute]PRTeP_eTaTRTZZP_PbXcThXWTSTU[TTZcTSXa

Agt6A0lt)2^TaRXP[B2gt4gt5FgtA)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRc284=C) 3H2^]bcadRcX^]gt20C8gt=)T]SXZ8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)CXRPaXAgt940B0lt8)4gTRdcXeT0aRWXcTRcTPS0aRWXcTRcugravedivideE4A4=)3Huuml]ugravePPcH4A)T]SXZuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)3TeP4ST]

ωϭέηϣϟϡϳυϧΗϡΗΩϗϭˬΎϳΎϗϥΎϣϭΩΔϛέηϑέρϥϣΎΑΎγΎϛϭΗϭωϭέηϣ˯ΎϧΑϡΗϳ˺˻˾˺˾ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕέΎϳγϠϟΎοέόϣ˿˿˾ϼϣΗηϣέίΟΙϼΛϰϠϋΓέΩϹϰϧΑϣ˻ϡ˼˹˹ΔΣΎγϣϰϠϋέηΗϧϳϭˬΕΎόϣΟϣϟϭΔϳέΎΟΗϟΕΩΣϭϟ˻ϡΎϳΎϗϥΎϣϭΩΔϛέηϑΩϬΗγΗϭϡΩΧΗγϻΓΩΩόΗϣΔϔϠΗΧϣΕΩΣϭϭΩϭϗϭϟΕΎρΣϣϭ

ϥϣΩόΗϙϟΫΑϲϫϭϥΎϛγϟϭέϭίϠϟΔϳϋΎϣΗΟϻϭΔϳέΎΟΗϟΕΎϳΟΎϳΗΣϻϊϳϣΟ˯ϭΗΣνέΎόϣΏΎΣλΔϣΩΧϲϓωϭέηϣϟΫϫέϳγΧΗϡΗϳγϭϝϭΑϧργϲϓϊϳέΎηϣϟϰϗέ

ϝϭΑϧργϥΎϛγϭΕέΎϳγϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΎϳΎϗϥΎϣϭΩϝϣόϟΏΣΎλltoslash1ugrave$$7ϝϭΑϧργϙϳΩϧΑϝϣόϟϊϗϭϣ

˻ϡ˼˹˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

71

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

gtCgt0B010

72

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

4B4=HDAC20334

3TbXV]TS^]P$b`PaTP[P]S4bT]hdac2PSSTXbPXgTSdbT_a^YTRcX]4bT]hdac8bcP]Qd[a^YTRc^UUTabP]^_T]P[[bW^__X]VR^U^acU^aXcbdbTabfXcWPgXd $$QdX[SX]VWTXVWccWTQdX[SX]VRaTPcTbPWdP]UaXT]S[he^[dTP]STgcT]STSPaZTceP[dTU^acWTPaTP

4bT]hdac2PSSTQTR^TbP]TgcT]bX^]^UcWTPX]a^PSX]c^XcbX]]TaR^dachPaSATcPX[bW^_bRX]TPP]SaTRaTPcX^]Q[^RZ^UUXRTaTbXST]cXP[P]SW^cT[PaTaXbX]VPQ^eTVa^d]SfXcWb`PaTPPaZTcb_PRT^UUXRTbST_^cbP]SRPa_PaZX]VfXcW$b`PaTPPaTQT[^fVa^d]ScWPcPZTbPc^cP[^U($b`dPaTTcTaSTeT[^_T]c

$TcaTZPaT[XZQXaP[P]atildeiTaX]TcPbPauacuteuacutehP_uacute[uacuteugrave^[P]4bT]hdac2PSSTuumlbcP]Qd[4bT]hdaccPQd[d]P]QXaZPaPZd[[P]uacute_a^YTbXSXaa^YTPZbXd $$TcaTQX]PhatildeZbTZ[XdivideXX[TQXa[XZcTZd[[P]uacuteRuacute[Pauacute]PP[uacuteugraveeTaXugraveZ^]U^adbPdivide[PPZcPSuacutea1X]PQYacute[VTSTX]bP][Pdhd[dQXaP[P]hPaPcPZcPeTQYacute[VT]X]_XhPbPSTdivideTaX]XhatildeZbT[cTZcTSXa

4bT]hdac2PSSTP]Ph^[d]XIcircPe[dhPdiP]cuacutebuacuteZ^]dd]SPSuacutea0[uacuteugraveeTaXugravePdividePiP[PauacutebX]TPeTaTZaTPbh^]Q[^divided^UXb[TaZ^]dc[PaeT^cT[TcaTZPaT[XZQXaP[P]SPhTaX]atildeiTaX]STQd[d]daZT]PaZTcP[P]uacute^UXb[TaST_^[PaeT^c^_PaZXbThTaX]P[cuacute]SP$TcaTZPaT[XZQXaP[P]ZP_[PPZcPeTc^_[PX]ugravePPcP[P]uacute($TcaTZPaT^[PZcPSuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C) 5PXZHX[PiATP[4bcPcTgt20C8gt=)4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)($b`BC0CDB)gt]V^X]V

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)5PXZHuacute[Pi6PhaXT]Zd[H4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)($

3DADlt)3TeP4ST]

ΩΟϭΗϣϡΩΧΗγϻΩΩόΗϣωϭέηϣˬ˻ϡ˻˹˾˹˹ΔΣΎγϣϰϠϋϪϣϳϣλΗϡΗϱΫϟωέΎηϟ˺˾˾˹ϥϭϛϳγˬωϭέηϣϟϲϓϲϧΎΑϣϠϟωΎϔΗέϰλϗˬϝϭΑϧργΎΑΕέϭϳϥΎγΔϘρϧϣϲϓ

ΔϣϳϗϥϣϊϓέΗωϭέηϣϟϲϧΎΑϣˬϕϭγΗϟϲϓϰϣυόϟΔΣέϟϡϳΩϘΗϡΗϳϙϟΫΑϭϡΔϘρϧϣϟϲϓϥΎγϧϹϊϣΔϣΟγϧϣΔϳΑΝΎΗϧϲϓϡϫΎγΗΎϬϧϭΓέϭΎΟϣϟΕέΎϘόϟ

ωϭέηϣϟϥϭϛΗϳˬΔϳϠΧΩϟΔΣΎγϟϰϟϲγϳέϟϕϳέρϟϥϣΩΗϣϣˬΕέϭϳϥΎγωέΎηϰϠϋϙϟΫϡΗϭϕΩϧϓϭΔϳϧϛγΕΩΣϭϭΏΗΎϛϣˬΔϳϬϳϓέΗΕϻΎΟϣϭˬϲΎϣϧϳγϥϭϟΎλϥϣ

ϥίΎΧϣϟˬΕέΎϳγϟϑϗϭϣϭΕϳϛέΎϣέΑϭγϭϕϭγΗϟΕϼΣϣΎϣ˻ϡ˽˼˹˹˹ΔΣΎγϣϲϠϛϟωϭϣΟϣϟϭ˻ϡ˾˻˹˹˹ΔΣΎγϣϰϠϋϲοέϷϕΑΎρϟϲϓΎϬϣϳυϧΗϡΗΏΗΎϛϣϟϭ

˻ϡ˾˹˹˹˯ΎϧΑϟΔΣΎγϣϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟίΎϣϠϳϕΎϓϝϣόϟΏΣΎλ)$lt0$=$lt50(18ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

75

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

CWTa^YTRcXbPR^]RT_c_a^YTRcSTbXV]TSc^bTaeTPbPdivideuacutecWP]Tltd]XRX_P[Xch1dX[SX]VU^acWTltd]XRX_P[Xch^UPdivideuacutecWP]TCWTc^cP[R^]bcadRcX^]PaTP^Uamp$b`cWT_a^YTRcR^]bXbcb^UU^dad]XcbCf^d]XcbVa^d]SU[^^aP]S bcU[^^aPaT[^RPcTS^]U[^^abPQ^eTbcaTTcPbcaPSX]VPgXbe^[dTbcaPSTSX]cWT_a^YTRcR^]bcXcdcTbCWT^cWTacf^d]XcbPaTSTbXV]TSc^QT2d[cdaP[2T]cTaP]Sltd]XRX_P[Xch1dX[SX]Vb

PdivideuacutecWP]T1T[TSXhTbXXIcircX]1T[TSXhT1X]Pbuacute^[PaPZWXiTceTaTbX_[P][P]P]Z^]bT_c_a^YTbXSXaamp$c^_[PX]ugravePPcP[P]uacute^[P]_a^YTSYacuteacQXaXST]^[dugravePZcPSuacuteauumlZXQXaXX]iTX]eT ZPc[Pauacute]SPQd[d]P]RPSSTatildeiTaXcXRPaTcQXaX[TaX_a^YTQYacute[VTbX]STZXcXRPaTcPZbuacute]uacute^[dugravecdaPZcPSuacutea3XdivideTaXZXQXaXatilde[catildealtTaZTiXeT1T[TSXhT1X]Pbuacute^[PaPZcPbPa[P]uacuteugravecuacutea

Agt6A0lt)ltXgTSDbTB2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)PVXcWP]Tltd]XRX_P[Xchgt20C8gt=)PVXcWP]T8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)amp$b`BC0CDB)2^]RT_c

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)PdivideuacutecWP]T1T[TSXhTbXH4A)PdivideuacutecWP]T8bcP]Qd[Cgt0ltugrave=divide00C00=8)amp$

3DADlt)CPbPauacute

ϥϭϛΗϳˬϪϧΎΧΕϳϏΎϛΔϳΩϠΑϟΕΎϣΩΧϰϧΑϣϛϪϣΩΧΗγϪΎϧΑΑϑΩϬΗγϳΞϣΩϣωϭέηϣϭϫΓΩΟϭΗϣϟΔϳέΎΟΗϟΕΩΣϭϟˬ˻ϡ˾˹˹˹ϪΗΣΎγϣνέϰϠϋΕΩΣϭ˽ϥϣωϭέηϣϟΓέΎΟΗϟέϭΣϣϝϛηΗωέΎηϟϰϠϋΔϠρϣϟϲϠϔγϟϭϲοέϷϕΑΎρϟϥϣϥϳΗΩΣϭϟϲϓϰϧΑϣϭϪϧΎΧΕϳϏΎϛϲϓΔϓΎϘΛϟίϛέϣϟϥϳϳέΧϷϥϳΗΩΣϭϟϡϳϣλΗϡΗϭˬΔϘρϧϣϟϲϓ

ϝϛηΗΔϳΩϠΑϟ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϪϧΎΧΕϳϏΎϛΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργϪϧΎΧΕϳϏΎϛϝϣόϟϊϗϭϣ ˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

77

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

0uacute8C70=4AtildeCAtildeAlt4A4Iugrave

78

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt4AgtB06A0=3B00=20gtC4

CWTUXeTbcPaltTa^bP6aP]SBP_P]RP7^cT[STeT[^_T]cfWXRWXb[^RPcTSX]BPZPahPBP_P]RP3XbcaXRcXbP]RW^aTSQhltTa^bP0oslashR^]bXbcb^U$ampb`c^cP[R^]bcadRcX^]PaTP8]R[dSX]V^Uampa^^bcWTW^cT[STeT[^_T]cX]cT]cbc^QT]^c^][hU^acWTS^TbcXRc^daXbcbQdcP[b^U^acWTU^aTXV]c^daXbcbcWTRWPaX]VUPRc^a^UR^]VaTbbP]SWTP[cWbTRc^a

ltTa^bP0oslashcPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacuteltTa^bP6aP]SBP_P]RP7^cT[BPZPahP]uacute]BP_P]RPX[IcircTbX]SThTaP[PZcPSuacutea$ampc^_[PX]ugravePPcP[P]uacuteQd[d]P]^cT[STamp^SPhTaP[PZcPSuacuteaHTa[XcdaXbc[TaX]^[SddividedZPSPahPQP]RuacutecdaXbc[TaX]STRPiXQTTaZTiXWP[X]TVT[TbXPPIcirc[P]P]^cT[Z^]VaTTaZTiX^[PaPZYacute]TIcircuacuteZPZcPSuacutea1atilde]hTbX]STQd[d]P]B_PTaZTiXX[TZ^]VaT^cT[Xbuacute]uacuteUuacute]PbPdivide[uacuteZZ^]dbd]SPZXXSSXPbuacuteh[PSTbcTZeTaTZcTSXa

Agt6A0lt)7^cT[B2gt4gt5FgtA) 2^]RT_c 3TbXV]284=C)ltTa^bP2^gt20C8gt=)BP_P]RPBPZPahPCgtC02gt=BCAD2C8gt=0A40)$ampb`

Agt94C0=8lt8)gtcT[Agt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)ltTa^bP0oslashH4A)BP_P]RPBPZPahPCgt0ltugrave=divide00C00=8)$amp

Δϛέηϑέρϥϣϩ΅ΎϧΑϡΗϳˬϡϭΟϧ˾ΔϓϥϣˬΩϧέϏΎγϭέϣΎΟϧΎΑΎλϕΩϧϓωϭέηϣϕΩϧϔϟϥϭϛΗϳϭˬΎϳέΎϗΎλΔϧϳΩϣϥϣΎΟϧΎΑΎλΓΩϠΑϲϓΩΟϭΗϳϪϧϭˬΔϣϫΎγϣϟΎγϭέϣ

ϝόΟϥϣϑΩϬΗγϳϭˬΔϓέϏ˼˻ϥϣˬ˻ϡ˾˹˹ϪΗΣΎγϣνέϰϠϋϩ΅ΎϧΑϡΗϱΫϟˬΕέϣΗ΅ϣϟΔϟΎλΑίϳϣΗϳϪϧϭˬΏϧΎΟϷϭϥϳϳϠΣϣϟΡΎϳγϠϟΎΑϭϏέϣίϛέϣϕΩϧϔϟΫϫ

ϕΩϧϓϭϝϳϣΟΗϭΔϳΎϧϋίϛέϣϭΎϧϭϭΎγϭΝΎγϣϭϲϛέΗϡΎϣΣϕϓέϣϪϭΗΣΎΑϭϝΎΟϣϟϲϓίϛέϣϟέΎγϲΣλϟϝΎΟϣϟϲϓϯΩΣΗϳϭΕέϣΗ΅ϣϟ

ϕΩϧϓωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎγϭέϣΔϛέηϝϣόϟΏΣΎλ0(526$$ugraveΎϳέΎϘλΎΟϧΎΑΎλϝϣόϟϊϗϭϣ

˻ϡ˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

81

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt4AgtB06A0=3B00=207gtC4

82

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E0AH0lt4A8380=

EPahP_ltTaXSXP]XbPWXVWT]SXgTSdbTSTeT[^_T]ccWPcRaTPcTbPeXQaP]cPc^b_WTaTPa^d]S0cPbTWXaSXbcaXRcX]8bcP]Qd[b0]Pc^[XP]bXSTCWTSTeT[^_T]cR^]cPX]b[dgdahaTbXST]cXP[d]Xcb^UUXRTbaTcPX[aTRaTPcX^]P]Sb_^acbUPRX[XcXTbCWTSTbXV]_a^eXSTbP]^dcbcP]SX]VbXV]PcdaT_aTbT]RT^]cWTbXcTfXcWbXV]XUXRP]cPaZTcX_PRc

8]EPahP_ltTaXSXP]cWTaTPaT$U[PcbaP]VX]VUa^bcdSX^c^$ Ua^$c^b`dPaTTcTabB^RXP[R[dQX]R[dSTbRPUTbUXc]TbbVhbPd]PP]SbcTPQPcWX]S^^aP]S^_T]PXabfXX]V_^^[bbTaeTX]WPQXcP]cbEPahP_ltTaXSXP]gtUUXRT7^cT[X]R[dSTb^UUXRTbePahX]VUa^$c^(b`dPaTTcTab

EPahP_ltTaXSXP]WPbQTT]PfPaSTScWTQTbcPaRWXcTRcdaTX]XgTSdbTRPcTV^ahX]X]cTa]PcX^]P[P]S]PcX^]fXSTR^_TcXcX^]b

EPahP_ltTaXSXP]uumlbcP]Qd[0]PS^[dhPZPbuacute]SP0cPugraveTWXaQYacute[VTbX]STRP][uacute[uacuteZhPaPcP]atildebcSatildeiThZPaPZd[[P]uacute_a YTbXSXaa YT[atildeZbaTiXSP]bSPXaT[Ta^UXb[TaPdividePiP[PaaTZaTPbh^]eTb_^acTbXb[TaXbd]PZcPSuacutea1dcPbPauacuteQYacute[VThTIcircPa_uacuteRuacuteQXaXiQuacuteaPZPZcPeTYacute]T[XQXa_PiPa^[dugravecdaPZcPSuacutea

EPahP_ltTaXSXP]SP$X[TTcaTZPaTPaPbuacute]SPbcatildeSh^SPXaTST]$ TZPSPaSTdivideXugraveT]U^aPccP$SPXaTQd[d]PZcPSuacuteaB^bhP[cTbXbQatilde]hTbX]STZPUT[TaUXc]TbbbP[^]dbPd]PeTQdWPaQP]h^[PauacuteZP_P[uacuteeTPIcircuacuteZhatildeiTWPedi[PauacuteSPXaTbPZX][TaX]TWXiTceTaTZcTSXaEPahP_ltTaXSXP]gtUUXRT7^cT[$X[T(TcaTZPaTPaPbuacuteSTdivideXugraveT]^UXbP[P]uacutebd]PZcPSuacutea

EPahP_ltTaXSXP]d[db[PaPaPbuacuteeTd[dbP[hPauacuteugraveP[PaSPZPaPZd[[P]uacuteZPcTV^aXbX]STT]XhXXPaXYacuteSatilde[[TaXZPiP]uacuteugravecuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)EPahP_EPa[uacuteQPugrave[Pa2^gt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) $b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)Alt9lt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)EPahP_EPa[uacuteQPugrave[Pa0oslashH4A)0cPugraveTWXa8bcP]Qd[Cgt0ltugrave=divide00C00=8) $

3DADlt)CPP[P]Suacute

ϲϔοϳϯϭΗγϣϰϗέ΄ΑϡΩΧΗγϻΓΩΩόΗϣνέϏϷϪϣϳϣλΗϡΗωϭέηϣˬϥΎϳΩϳέϣΏΎϳέϭωϭέηϣϟϡΩϘϳˬϝϭΑϧργϲϓϱϭϳγϷϡγϘϟϥϣέϳϬηΎρΔϘρϧϣϲϓϪϟϭΣϰϠϋΔϳϭϳΣϟΎΑϝϛηϳϪϳϓέΗϟϭΔοΎϳέϟϱΩϭϧˬΕϼΣϣˬΏΗΎϛϣˬΓέΧΎϓΔϳϗΩϧϓΔϣΎϗαϧΩϳίέϕϘηϱϭΗΣϳΔϘρϧϣϟϲϓέυϧϠϟΎΗϓϻέΛϙέΗϳϭΓέϳΑϛΔϳϣϫϭΫϱέΎΟΗϕϭγωϭέηϣϟΫϫ˻ϡ˼˽ ˹ϭ˻ϡ˽ ˾ϥϳΑΎϣΡϭέΗΗΔϔϠΗΧϣΕΎΣΎγϣϭϝΎϛη΄ΑΔϘη˽˾ ˹ϰϠϋωϭέηϣϟ

ϥϭϟΎλϭˬϲϫΎϘϣϟΎϬϳϓΎϣΑΔϳϋΎϣΗΟϻΕϻΎΟϣϟέϳΧγΗϡΗϭ˺ ˾ϰϟ˺ ˹ϥϣϡΎυϧϭΔϣΩΧϲϓΔϘϠϐϣϭΔΣϭΗϔϣΑΎγϣϭˬΕΎϣΎϣΣϭέΎΧΑϟϭΎϧϭϭΎγϥϭϟΎλϭˬϲοΎϳέϟαϧΗϳϓΏΗϛϣ˻˿ ˹ϥϣϥϭϛΗϳˬϕΩϧϔϟϭΏΗΎϛϣϥΎϳΩϳέϣΏΎϳέϭωϭέηϣωϭέηϣϟϲϓϥΎϛγϟ

˻ϡ˼ ˹ϰϟ˻ϡ˾ ˼ϥϣΔΣΎγϣϟΡϭέΗΗϥγΣordfΓίΎΟϰϠϋΔϳϣϟΎόϟϭΔϳϠΣϣϟΕΎϘΑΎγϣϟϲϓϥΎϳΩϳέϣΏΎϳέϭωϭέηϣίΎΣΩϘϟϭ

ϡΩΧΗγϻΩΩόΗΔϓϲϓϱέΎϣόϣωϭέηϣordf

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ

έϼηΎΑϲϟέϭΏΎϳέϭΔϛέηϝϣόϟΏΣΎλ9$5lt$39$5$ugrave$5$ugrave

ϝϭΑϧργέϳϬηΎρϝϣόϟϊϗϭϣ ˻ϡ˽˺˿˾˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

ϝϣΗϛϣωϭέηϣϟΔϟΎΣ

85

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E0AH0lt4A8380=

86

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

CgtA8Dlt

240000 sqm total construction area retail development on behalf of one of the best-known Real Estate Developer - TORUNLAR GYO will include 180 retail units The leisure area is placed of 30 leasable area of Torium With consisting of 3500 sqm snowpark facility Torium Shopping Centre lines on Beylikduumlzuuml-Avcilar district

C aXd0[uacuteugraveeTaXugraveltTaZTiXuumlbcP]Qd[d]hatildeZbT[T]TaZTi[TaX]ST]1Th[XZSatildeiatildeeT0eRuacute[PaPaPbuacute]SP7PaPXSTaT4$ZPaPh^[datildeiTaX]SThTaP[PZcPSuacutea6PhaXT]Zd[bTZcYacuteaatilde]atilde]VatildeeT]X[XaXbX[TaX]ST]C ad][Pa6HgtcPaPUuacute]SP]X]ugravePPTSX[T]C aXd0EltQatildehatildeZ[atildedivideatildeIcircTugraveXc[X[XdivideXeTWXiTcZP[XcTbXh[TX[h^][PaRPiXhPaTcIcircXhTTebPWX_[XdivideXTcTZcTSXa

HdacSuacuteugraveuacute]SP]iXhPaTcIcircX[TaX]STQatildehatildeZX[VXVYacutebcTaSXdivideXC aXd0EltP[uacuteugraveeTaXugraveTdivide[T]RT[TiiTcbX]TPeTTcZX][XZ[TaXQXaPaPSPbd]P]QXahPugravePTaZTiXSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)C ad][PaATP[4bcPcT8]eTbcT]cCadbcgt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)CXRPaXAgt940B0lt8)TPS0aRWXcTRc)1AC4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)C ad][Pa6HgtH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϡϭϳέϭρϊϣΟϣϊϘϳΙϳΣϝϭΑϧργϲϓΔϳϣΎϧΗϣϟίϛέϣϟϥϣϡϭϳέϭρϱέΎΟΗϟϊϣΟϣϟϊϳέγϟϕϳέρϟϥϳΑΎϣϱέΎΟΗϟ(ϙϳϠϳΑϭέϼϳΟϓϕρΎϧϣϥϳΑΎϣϭϩέΩϲϣέΣ˾ΔϗϭΛϭϣϟϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϱΫϟϊϣΟϣϟˬϭίϭΩϪΗΩϭΟΑέϭίϟϥϣϥϳϳϼϣϟϱέΎΟΗϟϊϣΟϣϟΫϫϑϳοΗγϳϭˬΕέΎϘόϟϝΎΟϣϲϓ

ϕϭγΗϟϥϣΓΎϳΣϟΕΎΑϠρΗϣϊϳϣΟϡΩϘϳϝϣΎϛΗϣεΎόϣίϛέϣϪϧϭΕΎϣΩΧϟϲϓϪϋϭϧΗϭΏϧΎΟϷέϭίϟϡΎϣΗϫΏΫΟϳϙϟΫΑϭϫϭΔϔϠΗΧϣΕΎρΎηϧϭΔϳΎϣϧϳγΕϻΎλϭϪϳϓέΗϟϭ

έϳΑϛΩΣϰϟ

ϱέΎΟΗωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ brt

ϱέΎϘόϟέΎϣΛΗγϼϟέϼϧϭέϭρϝϣόϟΏΣΎλ72581$5lt2ϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˻˽˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

89

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

140A0AgtC4

0]RW^aTSQh1T[SP2^]bcadRcX^]UXeTbcPa1T[ZPaPa7^cT[Xb[^RPcTSX]CdaZT]QPbWXCdaZTT]XbcP]CWTW^cT[STeT[^_T]cR^_aXbTbfXcWX]Pc^cP[STeT[^_T]cPaTP^U amp$P]Samp$c^cP[R^]bcadRcX^]PaTPFXcWX] bc^aThbcWTW^cT[XbRP_PRXchc^QT$_Tab^]b

1T[SPuuml]ugravePPccPaPUuacute]SP]hP_cuacuteauacute[P]$huacute[Suacutei[uacute1T[ZPaPa7^cT[CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]SPhTaP[PZcPSuacutea amp$PabPP[P]uacuteeThPZ[PugraveuacuteZampc^_[PX]ugravePPc^[P]W^cT[ ZPc[uacute^[d_$ZXugraveXZP_PbXcThTWXiTcbd]PQX[TZcTSXa

Agt6A0lt) 2^TaRXP[B2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)1T[SP2^]bcadRcX^]gt20C8gt=) CdaZT]QPbXCdaZT]XbcP]CgtC02gt=BCAD2C8gt=0A40)b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)gtcT[Agt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)1T[SPuuml]ugravePPcH4A)CatildeaZT]QPugraveuacuteCatildeaZT]XbcP]Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ΔϧϳΩϣϲϓ˯ΎϧΑϠϟΩϠΑΔϛέηϝΑϗϥϣϩ΅ΎϧΑϡΗϲΗϟϡϭΟϧ˾ΔϓϥϣέέϗέΑϕΩϧϓϊϘϳνέϰϠϋϩ΅ΎϧΑϡΗϕΑΎρ˺˻ϥϣϕΩϧϔϟϥϭϛΗϳˬϥΎΗγϧΎϣϛέΗϲϓϲηΎΑϥΎϣϛέΗ

ϪϧϭˬΎΑϳέϘΗ˻ϡ˹˹˹˹ϲϠόϔϟ˯ΎϧΑϠϟϲϠϛϟωϭϣΟϣϟϭ˻ϡ˺˹˺˻˾ΎϬΗΣΎγϣιΧη˽˾ΔϣΩΧΏϋϭΗγϳ

ϕΩϧϓωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟΩϠΑΔϛέηϝϣόϟΏΣΎλ($oslash1ugrave$$7ϥΎΗγϧΎϣϛέΗϲηΎΑϥΎϣϛέΗϝϣόϟϊϗϭϣ

˻ϡ˽˻˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

91

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

140A0A7gtC4

92

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

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2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

ltugrave0Agt=DC0A8

ltX[_PaZ7^dbX]V[^RPcTSX]4bT]hdac3XbcaXRcXbR^_aXbTS^]P__a^gXPcT[hb`c^cP[PaTPP]S b`c^cP[R^]bcadRcX^]PaTPCWT_a^YTRcSTeT[^_T]cXbP]RW^aTSQhltX[_PWPbSXUUTaT]cQ[^RZch_TbP]S ch_Tb^UU[PcPaTPbaP]VX]VUa^ c^

atildeiTaX]TZdad[d^[P]ltX[_PaZ^]dc[Pauacutec^_[PSPZ^]dc((QPdivideuacutebuacuteiQYacute[atildeST c^_[PX]ugravePPcP[P]uacute]SP]^[dugravePZcPSuacutealtX[_PcPaPUuacute]SP]4bT]hdaccPX]ugravePTSX[T]_a^YTSTPhauacutecX_cTQ[^ZhP_uacutebuacuteeT UPaZ[uacuteST eT Z^]dc[PauacuteQatilde]hTbX]STQd[d]PZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRc284=C)ltX[_P2^gt20C8gt=) 4bT]hdac8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc4gTRdcXeT0aRWXcTRcugravedivideE4A4=)ltX[_P0oslashH4A)4bT]hdacuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

3DADlt)CPP[P]Suacute

ϥϭϛΗΗ˻ϡ˼˼˺˹ΎϬΗΣΎγϣνέϰϠϋΎϫ΅ΎϧΑϡΗϲΗϟϙέΎΑϝϳϣΔϳϧϛγϟΕΩΣϭϟ˺˹˽˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣΑϝϘΗγϣϡγϗ˼ϭΔϳϧϛγΓΩΣϭ˹˹ϥϣΕέΎϣϋΙϼΛϰϠϋΕέϭϳϥΎγϲϓϩΫϳϔϧΗϡΗϲΗϟϙέΎΑϝϳϣωϭέηϣϱϭΗΣϳϭ˻ϡ

ˬ˺˺ϡΎυϧΑΔϔϠΗΧϣΔΣΎγϣωϭϧέηϋΔΛϼΛ˰ΑωϭϧΗΗΔϳϧϛγΕΩΣϭΎϬϳϓΔϔϠΗΧϣϝΎϛη΄Α˺˽ˬ˺˼ˬ˺˻

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣωϭέηϣϭϡϳϣλΗωϭέηϣϟϕΎρϧ

ΔϣϫΎγϣϟΎΑϠϳϣΔϛέηϝϣόϟΏΣΎλ03$$ugraveϝϭΑϧργΕέϭϳϥΎγϝϣόϟϊϗϭϣ

˻ϡ˺˽˼˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

95

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

10D50lt4CgtF4AB

1PZd5[PTC fTabXbcWTcP[[TbcWXVWaXbTQdX[SX]VX]1PZd0iTaQPXYP]^RPcTS^]PWX[[[^^ZX]V^eTa1PZd1PhcWXbcaX^XbPSSX]VPbXV]XUXRP]cPaZc^cWTRXchbbX[W^dTccT4PRWQdX[SX]VXbX]cWTU^a^UPU[PTP]SR^_[TcT[hR^eTaTSfXcW43bRaTT]bcWPcRP]SXb_[PhcWT^eTT]c^UPUXaTP]SeXbXQ[Tc^cWTUPacWTbc_^X]cbX]cWTRXch

CWT5[PTC fTabR^]bXbc^UcWaTTQdX[SX]VbCWT(bc^ahaTbXST]cXP[c^fTabXcbc^cWTB^dcWfXcWPWTXVWc^U (TcTabP]SPRR^^SPcX]V WXVWT]SP_PacT]cbCWTW^cT[c^fTaWPbbc^aXTbfXcW a^^b[^RPcTS^]cWT]^acWTa]R^a]TafXcW TcTaWTXVWcCWT^UUXRTc^fTaXb[^RPcTS^]cWTfTbcbXST^UcWTR^_[TgfXcW^aTcWP]b`dPaTTcTab^UR^TaRXP[^UUXRTb_PRTX]P TcTabcP[[QdX[SX]VCWTc^fTabUPRX]VTPRW^cWTaRaTPcTP]T]^a^dbe^XSP]SPb`dPaTX]cWTXSS[T

1PZd5[PTC fTab0iTaQPhRP]SP1PZatildeSTQd[d]P]T]hatildeZbTZVYacuteZST[T]SXa1PZatildeYacuteaUTiX]TQPZP]QXacT_TSTZ^]d[P]uacuteugrave^[P]atildeIcirc[atildeZd[T[TaX]ugraveTWXabX[dTcX]STYacute]T[XQXaXiXePaSuacutea7TaQX]PP[TeugraveTZ[X]STSXa1X]P[PauacutecPPT]ZP_[PhP]43TZaP][Pa[PugraveTWaX]T]diPZ]^ZcPbuacute]SP]QX[TVYacuteaatilde[TQX[TRTZP[TeWPaTZTc[TaXVYacuteaatilde]catildebatildeVYacutebcTaX[TZcTSXa

5[PTC fTabatildeIcircQX]PSP]^[dugravePZcPSuacutea (TcaThatildeZbTZ[XdivideX]STZX(ZPc[uacuteaTiXSP]bZd[TbXVatilde]ThSTQd[d]PZcPeT [atildeZbSPXaTQPauacute]SuacuteaPZcPSuacuteadiThRT_WTSTZ^]dugrave[P]uacuteugrave^[P]^cT[Zd[TbX TcaThatildeZbTZ[XdivideX]ST^[d_ZPceT ^SPQd[d]SdaPZcPSuacuteagtUXbZd[TbXXbTZ^_[TZbX]QPcuacuteZuacutebuacute]SP TcaThatildeZbTZ[XdivideX]ST^[d_TcaTZPaTST]UPi[PcXRPaX^UXbP[P]uacuteQPauacute]SuacuteaPZcPSuacutea

Agt6A0lt) ltXgTSDbTB2gt4gt5FgtA)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4AB284=C)3806a^d_gt20C8gt=)1PZd0iTaQPXYP]CgtC02gt=BCAD2C8gt=0A40)$b`BC0CDB)2^_[TcTS

Agt94C0=8lt8)PaPd[[P]uacuteAgt940B0lt8)TPS0aRWXcTRc)7gt4gTRdcXeT0aRWXcTRc)3gtlt40AC=4ABugravedivideE4A4=)3807^[SX]VH4A)1PZd0iTaQPhRP]Cgt0ltugrave=divide00C00=8)$

3DADlt)CPP[P]Suacute

ˬϥΎΟϳΑέίϭϛΎΑΔϧϳΩϣϲϓΓΩϭΟϭϣϟ˯ΎϣγΕΎΣρΎϧέΑϛϲϫˬΎϣϼϓϭϛΎΑΝέΑΔϳϠυΓέϭλΔΑΎΛϣΑϲϫϭϛΎΑΞϳϠΧϰϠϋϝρϣϟϝΗϟϰϠϋΎϫ΅ΎϧΑϲΗϟΔΛϼΛϟΝέΑϷΓΩϫΎηϣϝόΟΗϲϧΎΑϣϟΎΑΔρϳΣϣϟΔϳϭοϟΕΎηΎηϟΎΑϭˬΏϬϟϝϛηϰϠϋϰϧΑϣϝϛˬΩϠΑϠϟ

ΎόΗϣϣέϣΩϠΑϟϲϓΔρϘϧΩόΑϥϣΏϬϠϟΕΎϛέΣˬ˺˹ϪϟϭρΏϭϧΟϟϲϓαϧΩϳίέΝέΑ˭ΕέΎϣϋΙϼΛϥϣˬΎϣϼϓϭϛΎΑΝέΑϥϭϛΗϳ

ϲϓϩ΅ΎϧΑϡΗϲΗϟϲϗΩϧϔϟΝέΑϟΎϣΓέΧΎϓΔϘη˺˼˹ϝϣηϳϭϕΑΎρ˼ϥϣϥϭϛΗϣϭϡΏΗΎϛϣϟΝέΑΎϣϭΔϓέϏ˼˺ϪΑϭϕΑΎρ˼˿ϥϣϥϭϛΗϳϡ˺˿˽ϪϟϭρϝΎϣηϟΔϬΟ˻ϡ˼˼˹˹˹ϥϣέΛϛΔΣΎγϣϰϠϋϱϭΣϳϭϡ˺˿˹ϪϟϭρˬϊϣΟϣϟΏέϏϲϓϊϘϳ

ΔϳέΎΟΗϟΏΗΎϛϣϟνέϏϷ

ϡΩΧΗγϻΩΩόΗϣωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ+2

ϱΩΕΎϛέηΔϋϭϣΟϣϝϣόϟΏΣΎλ$+21ϥΎΟϳΑέίˬϭϛΎΑϝϣόϟϊϗϭϣ

˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣϝϣΗϛϣωϭέηϣϟΔϟΎΣ

97

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

24=CA07gtB8C0gtIH0C0uacute8

Standing on a 4100 square meter land with a 1450 square meter floor area Central Hospital Kozyatagi is designed by DOME+PARTNERS The hospital has 11 levels with 220 healthcare rooms 3 levels of reception polyclinic units offices cafeteria personal events room rehabilitation and laboratory Emergency access stays in the lower entrance with larger polyclinic units pharmacy and storage while operating rooms are at below ground level

Central Hospitalrsquos timber facade coating that surrounds the second level resembles heartbeat lines of a heart rate monitor and divides the building form in 2 parts Lower part defines the general spaces for common use timber coating heartbeat defines multi-purpose usage and above floors are for private use of patients

$TcaTZPaT[XZZPcP[P]uacuteX[TQXa[XZcT TcaTZPaT[XZQXaP[P]SPZ^]d[P]uacuteugrave^[P]2T]caP[7^b_XcP[^ihPcPdivideuacute3gtlt40AC=4ABcPaPUuacute]SP]SXiPh]TSX[XugravecXa7PbcP]TSTWPbcP^SPbuacuteQPauacute]SuacuteaP] ZPcPhauacuteRPaTbT_bXh^]_^[XZ[X]XZatilde]XcT[TaX^UXb[TaZPUTcTahP_Tab^]T[^SP[Pauacute^aVP]XiPbh^]bP[^]daTWPQX[XcPbh^]eT[PQ^aPcdePauacuteQPauacute]SuacuteaP]ZPcQd[d]PZcPSuacutea0RX[VXaXugraveXQatildehatildeZ_^[XZ[X]XZatilde]XcT[TaXTRiP]TeTST_^P[P]uacuteX[TQXa[XZcTP[cVXaXugraveZuacutebuacute]SPQd[d]PZcPhZT]PT[XhPc^SP[PauacuteXbThTaP[cuacuteZPc[Pauacute]SPSuacutea

2T]caP[7^b_XcP[uacute]XZX]RXZPcuacute]uacuteIcircTeaT[ThT]PWugraveP_SuacuteugraveRT_WTZP_[PPbuacuteZP[_PcuacuteugraveYacute[IcircTa^]XcYacutea[TaX]STVYacuteaatilde[T]ZP[_PcuacuteugraveuacuteIcircXiVX[TaX]XP]SuacuteaPZcPeTQX]P]uacute]U^ad]dPhauacuteZuacutebPPhuacuteaPZcPSuacutea0[cZuacutebuacute^acPZZd[[P]uacuteXIcircX]VT]T[P[P][PauacuteZP[_PcuacuteugraveuacuteIcirc^ZPPIcirc[uacuteZd[[P]uacuteuacuteeTatildebcZPc[PaXbTWPbcP[Pauacute]YacuteiT[Zd[[P]uacuteuacute]uacutecP]uacute[PPZcPSuacutea

Agt6A0lt)7^b_XcP[B2gt4gt5FgtA)2^]RT_c3TbXV]284=C)2T]caP[7^b_XcP[gt20C8gt=)^ihPcPVX8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) (ampb`BC0CDB)gt]V^X]V

Agt94C0=8lt8)7PbcP]TAgt940B0lt8)^]bT_cCPbPauacuteugravedivideE4A4=)2T]caP[7^b_XcP[H4A)^ihPcPdivideuacuteuumlbcP]Qd[Cgt0ltugrave=divide00C00=8) (amp

3DADlt)gt]V^X]V

νέϰϠϋαέΎϧΗέΎΑΎϣϭΩΔϛέηϑέρϥϣϲϏΎρΎϳίϭϛϝέΗϧγϰϔηΗγϣϡϳϣλΗϡΗΩϘϟ˺ ˺ϥϣϰϔηΗγϣϟϥϭϛΗϳˬ ϕΑϭρϟΔΣΎγϣϥϣ ϡ˻˺˽˾ ˹ϰϟΔϓΎοϻΎΑ ϡ˻˽˺˹ ˹ΎϬΗΣΎγϣˬϝΎΑϘΗγϡγϗϥϣοΗΗϕΑϭρΙϼΛιϳλΧΗϡΗϙϟΫϊϣϭˬ ϰοέϣϠϟΔϓέϏ˻˻ ˹ϪΑϕΑΎρ

ϲΑρέΑΗΧϣϭϝϳϫ΄ΗϟϡγϗϪϳϓϭˬ ϕϳγϧΗϟϥϭϟΎλˬ ϥϳϔυϭϣϟϑέϏˬ ϲϫΎϘϣˬ ΏΗΎϛϣˬ ΕΩΎϳϋϭϑέϏΎϣˬ ϲϠϔγϟϝΧΩϣϟϲϓϥίΧϣϟϭΔϳϟΩϳλϟϭˬ ΓέϳΑϛϟΕΩΎϳόϟϭˬ ΉέϭρϟϝΧΩϣϊϘϳ

νέϷϥϣΔϳϠϔγϟϕΑϭρϟϲϓΎϬϣϳυϧΗϡΗΔϳΣέΟϟΕΎϳϠϣόϟϡϳγϘΗϡΗϭΏϠϘϟΕΎϗΩρϳρΧΗΔϓέΧίΑΔϳΑηΧΩϭϣΑϰϔηΗγϣϠϟΔϳΟέΎΧϟΔϬΑΟϟϕϳϭρΗϡΗΩϘϟ

ιΎΧϟϝΎϣόΗγϼϟΔϳϭϠόϟϕΑϭρϟΎϣˬ ϡΎόϟϙέΗηϣϟϡΩΧΗγϼϟϲϠϔγϟϡγϘϟϥϳϣγϗϰϟϰϧΑϣϟϰοέϣϠϟ

ϰϔηΗγϣωϭέηϣϟΔϔλΞϣΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ϝέΗϧγϰϔηΗγϣϝϣόϟΏΣΎλϝϭΑϧργϲϏΎρΎϳίϭϛϝϣόϟϊϗϭϣ

˻ϡ˺˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

99

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

CWTltP]XbPltd]XRX_P[XchBTaeXRT1dX[SX]VP]S4]eXa^]T]cP[=PcX^]P[0aRWXcTRcdaTa^YTRccWPcXb_aT_PaTSU^acWTR^_TcXcX^]^aVP]XbTSQhltP]XbPltd]XRX_P[XchXbSTbXV]TSQhcWTa^YTRc_Pac]TabWX_^U3gtlt40AC=4ABP]SAC0CWTc^cP[R^]bcadRcX^]PaTPXbc^QTb`P]ScWTa^YTRcPXbc^bTaeXRTltP]XbPltd]XRX_P[Xch

ltP]XbP1T[TSXhTbXcPaPUuacute]SP]CatildeaZXhTVT]T[X]STSatildeiT][T]T]ltP]XbP1T[TSXhTbX7XiTc1X]PbuacuteeTregTeaTbXD[dbP[ltXPaXa^YTHPauacuteugravePbuacuteZP_bPuacute]SPWPiuacutea[P]P]_a^YT3gtlt40AC=4ABeTAC0IcircYacuteiatilde^acPZ[divideuacute]SPVTaIcircTZ[TugravecXaX[XugravecXac^_[PX]ugravePPcP[P]uacuteatildeiTaX]ST_[P][P]P]_a^YTSTltP]XbPSPhTaP[PRPZ1T[TSXhTWXiTcQX]Pbuacute]uacute]hTaP[PbuacuteWTSTU[T]TZcTSXa

Agt6A0lt) BTaeXRT1dX[SX]V2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)ltP]XbPltd]XRX_P[Xchgt20C8gt=)ltP]XbPCgtC02gt=BCAD2C8gt=0A40)$b`

Agt94C0=8lt8)7XiTc1X]PbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)ltP]XbP1T[TSXhTbXH4A)ltP]XbPCgt0ltugrave=divide00C00=8)$

ιϭλΧΑΎλϳϧΎϣΔϳΩϠΑϑέρϥϣΔϳϛέΗϟΔϳέϭϬϣΟϟϯϭΗγϣϰϠϋΔϘΑΎγϣϡϳυϧΗϡΗΩϘϟΔϘΑΎγϣϟϲϓίΎϔϟϥΎϛϓΎϬϟϭΣΎϣϭΔϳΩϠΑϟΕΎϣΩΧϟΔϳέΎϣόϣϰϧΑϣϥγΣϡϳϣλΗ

ϪΗΣΎγϣνέϰϠϋϰϧΑϣϟϡϳϣλΗϡΗϓˬΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗΔϛέΎηϣΔΣΎγϣϟϩΫϫϰϠϋΔϳΩϠΑϠϟΕΎϣΩΧϟϰϧΑϣϡϳυϧΗϡΗϳΙϳΣΑ˻ϡ˼˹˹˹

ΕΎϣΩΧϟϰϧΑϣΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ΎλϳϧΎϣΔϳΩϠΑϝϣόϟΏΣΎλ

ΎλϳϧΎϣϝϣόϟϊϗϭϣ˻ϡ˻˽˾˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

101

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

lt0=ugraveB01443ugraveH47ugraveIlt4C1ugrave=0B8

102

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

reg0lt8200=C4=D4Bugrave

CWT_da_^bT^UregP[uacuteRP0]cT]]PC fTaXbregP[uacuteRP[^RPcTSX]8bcP]Qd[fXcW^dcRPdbX]VT]eXa^]T]cP[_^[[dcX^]X]cWTXPVTP]Sc^aT^eTcWTTgXbcX]VP]cT]]PPbcSTbXV]X]Vc^fTacWPcfX[[bTaeTPbPR^d]XRPcX^]P]S_dQ[XR^QbTaePcX^]c^fTa_aTbTaeX]V]PcdaP[eTVTcPcX^][Ph^dcSTbXV]P]SR^]caXQdcX]Vc^QTR^T^]T^UcWTbhQ^[b^UcWTRXch^U8bcP]Qd[bX[W^dTccTfXcWP]cT]]Pc^fTaCWTR^_TcXcX^]a^YTRcXbSTbXV]TSQh3gtlt40AC=4ABP]SAC0_a^YTRc_Pac]TabWX_CWTc^cP[[T]VcW^U$$TcTabXb_[P]]TSc^fTaP]cT]]PWTXVWc^U TcTab TcTabP]S$TcTabST_cWcWTQPbXRbcadRcdaP[WTXVWcfX[[QTaTX]U^aRTSCWTaTfX[[QT_[PRTScf^aTbcPdaP]cbP]S^QbTaePcX^]bSTRZbX]cWTc^fTa

uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXcPaPUuacute]SP]^aVP]XiTTSX[T]hPauacuteugraveP]uacute]PPRuacuteuumlbcP]Qd[SPregP[uacuteRPTeZXbX]STVYacuteaatilde]catildeeTIcircTeaTZXa[XdivideXhPaPcPSP]TeRdcP]cT]SXaTZ[TaX]XZP[SuacuteaPZWPQTa[TugraveTeTWP[ZPPIcircuacuteZbThXaZd[TbX^[PaPZWXiTceTaTRTZZd[TcPbPa[PPZS^divideP[QXcZXYacuteacatildebatilde]atildeZ^adhPaPZePiXhTc_[P]uacutecPbPa[PPZeTugraveTWaX]bXVT[TaX]ST]QXaXWP[X]TVT[TRTZP]cT]Zd[TbXX[TuumlbcP]Qd[d]bX[dTcX]TZPcZuacuteSPQd[d]PZcuacutea3gtlt40AC=4ABeTAC0_a^YT^acPZ[uacutedivideuacute]SPVTaIcircTZ[TugravecXaX[T]hPauacuteugraveP_a^YTbX]STC _[P$$TcaTdid][ddivided]SP^[Pbuacute_[P][P]P]Zd[T]X] TcaTbXP]cT]hatildeZbTZ[XdivideX TcaTbXcTT[STaX][XdivideXeT$TcaTbXXbTQTc^]PaThP_uacutebP[hatildeZbTZ[XdivideX^[PRPZcuacutead[TSTugraveTaPSTcbThXaZPcuacuteeTaTbc^aP]Qd[d]PRPZcuacutea

Agt6A0lt) 2P[XRP0]cT]]PC fTa2^_TcXcX^]B2gt4gt5FgtA)3TbXV]3gtlt40AC=4ABAC0284=C)8bcP]Qd[ltd]XRX_P[Xchgt20C8gt=)2P[XRP8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) b`

Agt94C0=8lt8)regP[uacuteRPAPSh^Ced[TbXETBThXaCTaPbuacuteHPauacuteugravePbuacuteAgt940B0lt8)CPbPaX3gtlt40AC=4ABAC0ugravedivideE4A4=)uumlbcP]Qd[1atildehatildeZugraveTWXa1T[TSXhTbXH4A)regP[XRPuumlbcP]Qd[Cgt0ltugrave=divide00C00=8)

ρέηΑΔϳϭϬϟΓΩϣϋϷΕϳΑΛΗϭϫΔϘΑΎγϣϟϝϭΑϧργΔϳΩϠΑϡϳυϧΗϥϣϑΩϬϟϥΎϛΝέΑϡϳϣλΗϭˬϝϣόϟ˯ΎϧΛϝϭΑϧργΎΟϳϠϣΎΟϲϓΔϳόϳΑρϟέυϧϣϟϭΔϳΑϟΙϭϠΗϡΩϋϡΗϓˬϡΎϋϝϛηΑΝέϔΗϟϭΔΑϗέϣϠϟΝέΑϟϡΩΧΗγΏόηϠϟΔλέϔϟΔΣΎΗϊϣΕϻΎλΗ

ΑλϭΔϳόϳΑρϟΔϳΑϟϰϠϋυΎϔΣϟϲϓϡϫΎγΙϳΣΑϪΟϭϝϣϛϰϠϋωϭέηϣϟΫϫΫϳϔϧΗϝΑϗϥϣϩΫϳϔϧΗϡΗϱΫϟωϭέηϣϟΔϧϳΩϣϠϟϲϠυϟέϳϭλΗϟϲϓϡϫΎγϭΩϠΑϟέΎόηϥϣ˺˿˼ϡ˼˿˾˾˹ϝϭρΑΝέΑϟ˯ΎϧΑϡΗˬΔϘΑΎγϣϟΎΑΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗ

ϡ˻˹˻˾˹ϥϭϛϳγϲϧΎγέΧϟϝϭρϟΎϣˬϲγΎγϷϕϣόϟϡ˺ˬϲϭϬϟϝϭρϡϡϋΎρϣϟϭΝέϔΗϠϟϥϳϘΑΎριϳλΧΗϡΗϳγϭ

ΔΑϗέϣϟΔϓέηϭϥϭϳίϳϔϠΗϟϭϭϳΩέϟΝέΑΔϘΑΎγϣωϭέηϣϟΔϔλΕέϭαέΎϧΗέΎΑΎϣϭΩϡϳϣλΗωϭέηϣϟϕΎρϧ

20(3$571(5657$ϯέΑϛϟϝϭΑϧργΔϳΩϠΑϝϣόϟΏΣΎλ

ϝϭΑϧργΎΟϳϠϣΎΟϝϣόϟϊϗϭϣ˻ϡ˺˹˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ

105

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

111 113

117

109

119

4=CB4C0B0A8ltlt0BC4A0=

DA10=34B86=lt0BCA40=

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

1ugravedivide4H8864ugravedividelt40=85ugraveugraveAH0A8dividelt0B8

gt]QTWP[U^UcWTRP_XcP[RXch^UhaVhibcP]1XbWZTZbeP[dTb^UPaRWXcTRcdaP[daQPXbb^RXP[TR^^XRP[WXbc^aXRP[Rd[cdaP[eP[dTbPaTP]P[hiTSU^acWTSTeT[^_T]c^ST[5^aRaTPcX]VdaQP]bdQaTVX^]bPbcTa_[P]U^acWT_a^_^bTSdbT^UPePaXTch^UcPaVTcTS^QYTRcXeTbX]cWTaTVX^]STbXV]PcTSQhX]cT]bXUhX]V

uacuteaVuacuteiXbcP]uacute]QPugraveZT]cX1XugraveZTZugraveTWaX]X]XPa[uacuteZugraveTWXaRX[XZb^bhP[TZ^]^XZcPaXWXZatilde[catildeaT[STdivideTa[TaXP]P[XiTSX[TaTZVT[XugraveT^ST[XWPiuacutea[P]uacuteugravecuacuteahuacute[uacuteXIcircX]Yacute]TaX[T]PbcTa_[P]SPWTSTU[T]T]IcircTugraveXc[XZd[[P]uacutePPIcirc[Pauacute]uacuteQT[Xa[T]T]QYacute[VT[TaSTh^divided][PugravecuacuteaPaPZZT]cbT[P[cQYacute[VT[Ta^[dugravecdaPZcuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)3TeT[^_T]c[P]8STP2^_TcXcX^]284=C)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXgt20C8gt=)1XbWZTZhaVhibcP]BC0CDB)ltP]bX^]

Agt94C0=8lt8)T]cbT[CPbPauacuteltPbcTa[P]Agt940B0lt8)Huacute[uacute6T[XugraveT[P]uacute5XZXaHPauacuteugravePbuacuteugravedivideE4A4=)CatildeaZ3atilde]hPbXltatildeWT]SXb[TaETltXPa[Pa1Xa[XdivideXH4A)1XugraveZTZuacuteaVuacuteiXbcP]3DADlt)ltP]bXh^]frac12Satilde[atilde

ΔγέΩϝϣϋΩόΑϙϟΫϭϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑΔυϓΎΣϣϟϭϣϧΝΫϭϣϧέϳοΣΗϡΗΩϘϟˬΔϳϓΎϘΛϟϭΔϳΧϳέΎΗϟϭˬΔϳΩΎλΗϗϻϭΔϳϋΎϣΗΟϻˬΔϳέΎοΣϟϭΔϳέΎϣόϣϟϡϳϘϠϟΔϳϠϳϠΣΗΔϋϭϧΗϣϟΕΎϣΩΧΗγϻϑΩϫϊϳϣΟΎΣοϭϣ˻˹˽˹ϡΎόϟϲγϳέϟρϳρΧΗϟϥΎϛϓ

ϲϠϔγϟϩΎΟΗϻϲϓΔϳϧΩϣϕρΎϧϣ˯ΎϧΑϡϳϣλΗϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϙΎϛηϳΑϲϓ˻˹˽˹ΔϳϭϣϧΗϟΔϧγϟρϳρΧΗϟΔϳέϛϓΔϘΑΎγϣωϭέηϣϟϕΎρϧ

ϲϛέΗϟϡϟΎόϟϲϓϥϳϳέΎϣόϣϟϭϥϳγΩϧϬϣϟΩΎΣΗϝϣόϟΏΣΎλϥΎΗγϳίϳϏέϳϗϙΎϛηϳΑϝϣόϟϊϗϭϣ

υϳέϘΗΓίΎΟωϭέηϣϟΔϟΎΣ

109

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

10HA0lt0divide04=CB43frac12=AtildedivideAtildelt

EPcP]3XbcaXRcfWTaTP]]^d]RTSPbPaTVT]TaPcX^]PaTPP]SXcX]R[dSTbaTbXST]cXP[R^TaRXP[P]SX]SdbcaXP[PaTPbWPCWTSTbXV]bcaPcTVXTbcWPcSTeT[^_TSU^aEPcP]3XbcaXRcP]S1Th^]SdbcQTTPbX[hP__[XRPQ[Tc^P]SQTR^TP^ST[U^a^cWTaaTVT]TaPcX^]_a^YTRcbfXcWX]cWT1PhaP_PugravePltd]XRX_P[XchP]ScWTRXch^U8bcP]Qd[0bcWTQdX[SX]Vbc^RZXbd_SPcTScWT]TXVWQ^aW^^SbXST]cXchbWP[[QT_aTbTaeTSQh_aTbTaeX]VT]WP]RX]VP]SaTRaTPcX]VcWTdaQP]STbXV]T[TT]cbcWPcU^aXcb3=0a^_^bTSdaQP]STbXV]T]R^daPVTbXgTSdbTbP]SdaQP]T]eXa^]T]ccWPcXb`dP[XUXTSX]cTab^Ub^RXP[X]UaPbcadRcdaT

T]cbT[SYacute]atildeugraveatildehPbPbuacuteZP_bPuacute]SPaXbZ[XP[P]X[P]TSX[T]EPcP]ltPWP[[TbXZ^]dccXRPaTceTbP]PhXXugrave[Te[TaX]X]hTaP[SuacutedivideuacuteQXaQYacute[VTSXaWPEPcP]ltPWP[[TbXeTregTeaTbXXIcircX]VT[XugravecXaX[T]cPbPauacutebcaPcTYXbXX[T_a^YTbuacute]uacuteauacuteSuacuteugraveuacute]SPZXhTa[TaSTZ^[PhRPdhVd[P]PQX[TbX1PhaP_PugravePeTuumlbcP]Qd[d]UPaZ[uacutehTa[TaX]SThP_uacute[PRPZSYacute]atildeugraveatilde_a^YT[TaX]Th^[VYacutebcTaTbXPPIcirc[P]uacutea1X]Pbc^ZdhT]X[T]XaZT]PWP[[T]X]ZX[XdivideXQdVatilde]ZatildeZT]cS^Zdbd]d]3=0buacute]uacute^[dugravecdaP]cPbPauacuteYacutedivideT[TaX]X]Z^ad]PbuacuteVT[XugravecXaX[TbXeThT]XST]^[dugravecdad[PbuacuteWTSTU[T]TZcTSXafrac12]TaX[T]ZT]cbT[cPbPauacute_a^YTbXZ^]dceTcXRPaTcX]QXaPaPSPhTaP[Suacutedivideuacuteb^bhP[P[chP_uacute[PaPIcircuacutebuacute]SP]hTcTa[XQXaZT]cbT[IcircTeaTbd]Pa

Agt94C0=8lt8)T]cbT[3Yacute]atildeugraveatildeAgt940B0lt8)T]cbT[CPbPauacuteeTltXPaX^]bT_cugravedivideE4A4=)1PhaP_PugraveP1T[TSXhTbXH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

Agt6A0lt) DaQP]CaP]bU^aPcX^]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)1PhaP_PbPltd]XRX_P[Xchgt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

ΕΎρΎηϧΏϠϗϲϓϲϫϭˬϲϧϛγϟΩϳΩΟΗϟϥϭϧΎϗϥϣοΓέρΧϟϕρΎϧϣϟϥϣϥρϭϲΣϥϛϣϳϭΩέΎΟΫϭϣϧϥϭϛϳϥ΄ΑωϭέηϣϟϥϣϑΩϬΗγϳϭˬϥϛγϟϭΓέΎΟΗϟϭΔϋΎϧλϟ

ˬϝϭΑϧργϕρΎϧϣέΎγϲϓϲϧϛγϟΩϳΩΟΗϠϟΔοέόϣϟϕρΎϧϣϟέΎγϰϠϋΔϟϭϬγΑϪϘϳΑρΗΏϧΎΟϟΩϳΩΟΗϊϣΎϬΗϳϭϫϭΔϳϧϛγϟ˯ΎϳΣϷΕΎΑγΗϛϣϰϠϋυΎϔΣϟϥϣΩΑϻϥΎϛϓ

ίϛέϣϟϭΔϳϧϛγϟΕΩΣϭϟϥϭϛΗϥϭϫωϭέηϣϟϲϓϪΑϰλϭϣϟΞϬϧϣϟϭˬϱέΎϣόϣϟΔϳΗΣΗϟΔϳϧΑϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟέΎγέϳϓϭΗϡΗϳϥϭˬΓΩΣϭΔϘρϧϣϲϓΔϳέΎΟΗϟ

Δϣίϼϟ

ϲϧϛγϟΩϳΩΟΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΎηΎΑϡέϳΎΑΔϳΩϠΑϝϣόϟΏΣΎλϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣέϣΗγϣωϭέηϣϟΔϟΎΣ

111

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

112

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

6D=4Augrave0C0divide47ugraveA

0]RW^aTSQh6atilde]TaX2^]bcadRcX^]PbPdaQP]aTVT]TaPcX^]_a^YTRcfWXRWXb[^RPcTSX]0cPugraveTWXa1PaQPa^b3XbcaXRcR^]bXbcb^U b`CWTa^YTRcaTbTaeTbQ^cWdaQP]STbXV]P]SPaRWXcTRcdaP[STbXV]bTaeXRTbPbfT[[c^R^_^bTP]Tf[XUTPaTP

0cPugraveTWXa1PaQPa^bltPWP[[TbXbuacute]uacutea[PauacuteXIcircTaXbX]SThTaP[P]eTZT]cbT[SYacute]atildeugraveatildeP[P]uacute^[PaPZQT[Xa[T]T] P[P]SP6atilde]TaXuuml]ugravePPcZT]cbT[SYacute]atildeugraveatildeP[P]uacuteXIcircX]ZT]cbT[cPbPauacuteeTXPaXIcircP[uacuteugraveP[PaIcircP[uacuteugraveuacute[PZcPSuacutea

Agt6A0lt) DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)6d]TaX2^]bcadRcX^]gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40) WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXETltXPaX^]bT_cugravedivideE4A4=)6atilde]TaXuuml]ugravePPcH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8) WP3DADlt)3TeP4ST]

ϰϠϋ˯ΎϧΑϠϟϱέΎϧϭϏΔϛέηϑέρϥϣϥΩϣϊϳέΎηϣΫϳϔϧΗϭϡϳϣλΗϝΎϣϋΔγέΩϡΗϳϥϣοΎϬϧϼϋϡΗϱΫϟϭέϳϬηΎραϭέΎΑέΎΑϲΣΩϭΩΣϝΧΩ˻ϡ˺˻˹˹˹ΔΣΎγϣ

ϪΑϝϭϣόϣϟρΑϭοϟΏγΣϲϧϛγϟΩϳΩΟΗϟΔϘρϧϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

˯ΎϧΑϠϟϱέΎϧϭϏϝϣόϟΏΣΎλh1(5oslash1ugrave$$7ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˺˼˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

113

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

6Atilde=4Augrave0C0divide47ugraveA

114

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

115

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

116

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

E0AC0divide0C0divide47ugraveA

EPacPugraveDaQP]3TbXV]a^YTRcc^QTWT[SX]8bcP]Qd[0cPbTWXaSXbcaXRc^UPQ^dc $WPX]cWTUXT[S^UdaQP]aTVT]TaPcX^]XbX]cT]STSc^cP_daQP]aT]TfP[C cWXbT]S0cPugraveTWXaSXbcaXRcbPbcTa_[P]U^acWTfW^[TP__a^PRWWPbQTT]PSTFP[ZPQX[XchP]SPRRTbbc^b^RXP[UPRX[XcXTb^UP]daQP]STbXV]_a^YTRcWPbQTT]_aT_PaTSX]PRR^aSP]RTfXcWbcP]SPaSbC WXVW[XVWccWT_^cT]cXP[^USTbXV]STRXbX^]bX]cWT_aTbT]cPaTPfWXRWXbP]X_^acP]ccaPSTPgXb^U0cPugraveTWXab5PcXWBcaTTcSTbXV]STRXbX^]bWPeTQTT]cPZT]U^ac^QTcWT^]T^UcWT^bc_aTbcXVX^db[X]T

EPacPugraveT]cbT[CPbPauacutea^YTbXuumlbcP]Qd[0cPugraveTWXaX[IcircTbX]SThPZ[PugraveuacuteZ $WPSPhP_uacute[PRPZZT]cbT[SYacute]atildeugraveatildeP[P]uacute]SPZT]cbT[S^Zd]d]hT]X[T]TbXPPRuacute]uacutecPugraveuacutea1dPPIcirc[P0cPugraveTWXaX[IcircTbXQatildecatilde]atilde]TPXcPbcTa_[P]hPZ[PugraveuacuteuacutehP_uacute[uacuteugravehatildeaatilde]TQX[Xa[XZeTb^bhP[S^]PcuacuteP[P][Pauacute]PTaXugraveXbcP]SPac[Pauacute]PdhVd]QXaZT]cbT[cPbPauacute_a^YTbXWPiuacutea[P]uacuteugravecuacutea0[P]uacute]_^cP]bXhT[[TaX]XYacute]TIcircuacuteZPaPRPZcPbPauacuteZPaPa[PauacuteX[TTeRdccPYacute]T[XQXacXRPaTcPZbuacute^[P]5PcXW2PSSTbX]X]0cPugraveTWXaX]_aTbcXY[XP[P][Pauacute]SP]QXaX^[Pbuacute]PhYacute]T[XZcPbPauacuteZPaPa[PauacuteP[uacute]uacuteugravecuacutea

Agt6A0lt)DaQP]3TbXV]ltPbcTa[P]B2gt4gt5FgtA)DaQP]3TbXV]0aRWXcTRcdaP[2^]RT_c284=C)EPacPbATP[4bcPcTgt20C8gt=)0cPbTWXa8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)T]cbT[CPbPaXeTltXPaX^]bT_cugravedivideE4A4=)EPacPugrave6PhaXT]Zd[H4A)0cPugraveTWXauumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ϥΩϣϠϟΔϳέΎϣόϣϟΔΟγϧϷΩϳΩΟΗˬέϳϬηΎρεΎρέϭωϭέηϣϡϳϣλΗϥϣϑΩϬΗγϳέϳϬηΎρΓΩϠΑϲϓέΎΗϛϫ˺˾ΔΣΎγϣϰϠϋϩΫϳϔϧΗϊϣίϳϲΗϟϲϧϛγϟΩϳΩΟΗϟϝΎΟϣϲϓϡΗϭˬέϳϬηΎρΔϘρϧϣ˯ΎΣϧϊϳϣΟϟϲγϳέϟρϳρΧΗϟϡϳϣλΗϡΗΩϘϟΫϟϭϝϭΑϧργΎΑ

ϡΗϭˬϝλϭΗϟϭΔϳϋΎϣΗΟϻΕϻΎΟϣϟϼϣΎηΓΩϭΟϟαϳϳΎϘϣϰϠϋίΎΣωϭέηϣέϳοΣΗΓέΎΟΗϟέϭΣϣέϳϬηΎρϲϓΩϭΟϭϣϟΗΎϓωέΎηϥϭϛϳϥ΄ΑϡϳϣλΗϟέέϗϰϟϝϭλϭϟ

ϝΎΟϣϟϲϓΔΣΎΗϣϟΕΎϳϧΎϛϣϻϊϳϣΟέϳΧγΗϊϣ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟϡϭϬϔϣϟϭϥΩϣϡϳϣλΗωϭέηϣϟϕΎρϧ

ΕέΎϘόϠϟεΎρέϭϝϣόϟΏΣΎλ9$57$ugrave$lt50(18ϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˻˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

117

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119

H4=ugravedivide47ugraveA

CWTBXcTXbR^_aXbTS^U^eTa$WTRcPaTb^U[P]SbcaTcRWX]VUa^cWTBTP^UltPaPaPc^cWT1[PRZBTPaSPXa_^acXb]Tgcc^_[P]]X]VPaTP

CWT_[P]U^aSTeT[^_T]cWPbQTT]STT_[hX]U^aTS

QhcWT]PcdaP[UTPcdaTb^UcWTbXcTc^_^VaP_WhTR^bhbcTP]SeTVTcPcX^]

CWT[P]X]R[dSTbP]d]STabcP]SX]VcWPccWTeTahQTbcWdP]bTcc[TT]cbQP[P]RTcWTT]eXa^]T]cP[TR^]^XRP]SRd[cdaP[]TTSb^UcWT_^_d[PcX^]FXcWX]TPRWbTcc[TT]c_dQ[XRP]S^_T]b_PRTPaTQP[P]RTSfXcWX]cT]bTP]SeXQaP]cXgTSdbTQdX[SX]Vb2d[cdaP[2^TaRXP[P]STab^]P[b_PRTPaTSXbcaXQdcTSTeT][hP^]VcWTSXUUTaT]c]TXVWQ^aW^^SbX]TPRWdaQP]bTRc^a

[P][PPP[P]uacuteltPaPaP3T]XiX]ST]ZdiThTPaPST]XiTS^divideaddiP]P]$WTZcPa[uacuteZPaPiXatildeiTaX]STSXa7PeP[XP]uacuteIcircP[uacuteugravePP[P]uacute]uacute]Z^ugraved[ddivided]SPhTaP[uacutea

6T[XugraveT_[P]uacute_[P][PPP[P]uacute]uacute]c^_^divideaPUhPTZ^bXbcTeTQXcZXYacuteacatildebatilde]TPXcQX[VX[TaTVYacuteaTWPiuacutea[P]PZcPSuacutea

[P]X]bP]hTa[TugraveX[TaX]atildeUdbd]IcircTeaTbT[TZ^]^XZeTZatilde[catildeaT[XWcXhPIcirc[Pauacute]uacuteT]XhXugraveTZX[STST]VT[TTP][Phuacuteugraveuacute]uacuteXIcircTaXa7TahTa[TugraveTST^acPZeTPIcircuacuteZP[P][Pah^divided]eTRP][uacuteZPaPZd[[P]uacuteQX]P[PaX[TST]VT[XugraveTZX[STSXaatilde[catildeaT[cXRPaXeTZXugraveXbT[P[P]WTaZT]cbT[ZTbXSTZXUPaZ[uacutePWP[[T[TaPaPbuacute]SPTugraveXc^[PaPZSPdivideuacutecuacute[uacutea

Agt6A0lt) P]SbRP_T3TbXV]ltPbcTa[P]B2gt4gt5FgtA)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gt284=C)4[PZ ]dcATP[4bcPcT8]eTbcT]cCadbc2 gt20C8gt=)8bcP]Qd[CgtC02gt=BCAD2C8gt=0A40)WPBC0CDB)gt]V^X]V

Agt94C0=8lt8)T]cbT[CPbPaXltPbcTa[P]Agt940B0lt8)^RP[Pac]Ta4gTRdcXeT0aRWXcTRc)177gtugravedivideE4A4=)4[PZ^]dc6Hgt0oslashH4A)uumlbcP]Qd[Cgt0ltugrave=divide00C00=8)WP3DADlt)3TeP4ST]

ΔΣΎγϣΑϻΎϣηΩϭγϷέΣΑϰϟϩέΎϣέΎϣέΣΑϥϣΓΩΗϣϣϟνέϷϰϠϋωϭέηϣϟΫϫϊϘϳΕΎϳρόϣϟΏγΣϡϳϣλΗϟέϳοΣΗϡΗϳϭΙϟΎΛϟέΎρϣϠϟϝϣϋϊϗϭϣέϭΟΑϭϫϭˬ έΎΗϛϫ˼˾˹˹ ˹ϥΎϛγϟΔϓΎΛϛϲϓϥίϭΗϟϡϭϬϔϣϰϧΑΗϳϭˬ αϳέΎοΗϟϭˬ ϲϳΑϟϡΎυϧϟϭϲΗΎΑϧϟ˯ Ύρϐϟϥ΄ηΑΓΩέϭϟϊϳϣΟϥϳϛϣΗϡΗϭˬ ΕΎϳΟΎΣϟϭΓΎϳΣϟΕΎΑϠρΗϣέΎγϭΔϳϓΎϘΛϟϭΔϳΩΎλΗϗϻΕϻΎΟϣϟϭΓέϭΎΟϣϟϝϛηΑϡΩΧΗγϻΓΩΩόΗϣΔϳϭϳΣϲϧΎΑϣϭΔΣϭΗϔϣϟϭΔϛέΗηϣϟϕρΎϧϣϟϡΩΧΗγΔϳϧϛγϟϥΩϣϟ

ΔϳέΎΟΗϟϭΔϳϓΎϘΛϟΕΎϳρόϣϟΏγΣΔϔϠΗΧϣϟΔϳϧϛγϟ˯ ΎϳΣϷϰϠϋΕΎΣΎγϣϟϊϳίϭΗϡΗϳϭˬ ϥίϭΗϣϱϭΎγΗϟΎΑΔϳλΧηϟϭ

ϥΩϣϟϡϳϣλΗϟϲγϳέϟρϳρΧΗϟωϭέηϣϟΔϔλϱέΎϣόϣϟΫϳϔϧΗϟˬϲγϳέϟϱέΎϣόϣϟαΩϧϬϣωϭέηϣϟϕΎρϧ++2ΔϣϫΎγϣϟϱέΎϘόϟέΎϣΛΗγϻϭϥϛγϠϟϙϼϣΔϛέηϝϣόϟΏΣΎλ emlAk

2187lt2$ugraveϝϭΑϧργϝϣόϟϊϗϭϣ

έΎΗϛϫ˼˿˹˹˹˯ΎϧΑϠϟΔϳϠϛϟΔΣΎγϣϟωϭϣΟϣ έϣΗγϣωϭέηϣϟΔϟΎΣ

119