drilling riser

8/15/2019 Drilling Riser

http://slidepdf.com/reader/full/drilling-riser 1/91

Simulation of drilling riser disconnection- Recoil analysis

Arild Grønevik

Marine Technology

Supervisor: Carl Martin Larsen, IMT

Department of Marine Technology

Submission date: June 2013

Norwegian University of Science and Technology



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

"#$%& $' ($)*

+,"#, -.&/0/ 1234'$)

"-56, -&#., 7)086 9):;&<0*

"=+>?7@=AB AC DE=??=B9 E="FE D="GABBFG@=AB H

EFGA=? 7B7?I"="

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

70,+9*3 +,+60.*. %1 4&*66*,) &*.(&. +1/(& 4*.3%,,(3/*,) *. 9+,4+/%&0 '5(, 86+,,*,)

4&*66*,) %8(&+/*%,.= "5*. /08( %1 +,+60.*. *. %1/(, &(1(&&(4 /% +. E&(3%*6 +,+60.*.F= "5(8;&8%.( %1 /5*. 8&%A(3/ *. /% 4(.3&*?( + /08*3+6 4*.3%,,(3/*%, 8&%3(4;&(D *4(,/*10 3&*/*3+6(-(,/. +,4 3+&&0 %;/ &(3%*6 +,+60.(. ?0 /5( ;.( %1 /5( 3%98;/(& 8&%)&+9 G*16(<=

"5( '%&> 9*)5/ ?( 4*-*4(4 *,/% /+.>. +. 1%66%'.H

I*/(&+/;&( ./;40 +,4 .(6(3/*%, %1 &*.(&. +,4 3+.(. /% ?( .;?A(3/(4 /% +,+60.(.= J+&/ %1 /5*./+.> '+. 3+&&*(4 %;/ +. + 8&(B8&%A(3/ 4;&*,) 1+66 KLMKD ?;/ .%9( +44*/*%,+6 '%&> 9*)5/./*66 ?( &(6(-+,/

@8860 GCNIOP /% .*9;6+/( -+&*%;. 4*.3%,,(3/*%, .*/;+/*%,. ?0 -+&0*,) /*9( 1%&4*.3%,,(3/*%, &(6+/*-( /% /5( 40,+9*3 8%.*/*%, %1 /5( 86+/1%&9= J+&+9(/(&. 6*>( '+/(&4(8/5 +,4 &*.(& /(,.*%, 9+0 +6.% ?( -+&*(4= N;&/5(& 4(/+*6. .5%;64 ?( +)&((4 '*/5 /5(.;8(&-*.%& 4;&*,) /5( (<(3;/*%, %1 /5( 8&%A(3/=

"5( '%&> 9+0 .5%' /% ?( 9%&( (</(,.*-( /5+, +,/*3*8+/(4= 2%9( /%8*3. 9+0 /5(&(1%&(?( 6(1/ %;/ +1/(& 4*.3;..*%, '*/5 /5( .;8(&-*.%& '*/5%;/ +,0 ,()+/*-( *,16;(,3( %, /5()&+4*,)=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

CC

"5( 3+,4*4+/( .5%;64 *, 5(&Q5*. &(8%&/ )*-( + 8(&.%,+6 3%,/&*?;/*%, /% /5( .%6;/*%, %1/5( 8&%?6(9 1%&9;6+/(4 *, /5*. /(</= @66 +..;98/*%,. +,4 3%,36;.*%,. 9;./ ?( .;88%&/(4?0 9+/5(9+/*3+6 9%4(6. +,4Q%& &(1(&(,3(. /% 850.*3+6 (11(3/. *, + 6%)*3+6 9+,,(&=

"5( 3+,4*4+/( .5%;64 +8860 +66 +-+*6+?6( .%;&3(. /% 1*,4 &(6(-+,/ 6*/(&+/;&( +,4*,1%&9+/*%, %, /5( +3/;+6 8&%?6(9=

"5( &(8%&/ .5%;64 ?( '(66 %&)+,*.(4 +,4 )*-( + 36(+& 8&(.(,/+/*%, %1 /5( '%&> +,4 +663%,36;.*%,.= C/ *. *98%&/+,/ /5+/ /5( /(</ *. '(66 '&*//(, +,4 /5+/ /+?6(. +,4 1*);&(. +&(;.(4 /% .;88%&/ /5( -(&?+6 8&(.(,/+/*%,= "5( &(8%&/ .5%;64 ?( 3%986(/(D ?;/ ./*66 +..5%&/ +. 8%..*?6(=

"5( 1*,+6 &(8%&/ 9;./ 3%,/+*, /5*. /(</D +, +3>,%'6(4)(9(,/D .;99+&0D 9+*, ?%40D3%,36;.*%,. +,4 .;))(./*%,. 1%& 1;&/5(& '%&>D .09?%6 6*./D &(1(&(,3(. +,4 +88(,4*3(.=@66 1*);&(.D /+?6(. +,4 (R;+/*%,. 9;./ ?( *4(,/*1*(4 ?0 ,;9?(&.= G(1(&(,3(. .5%;64 ?()*-(, ?0 +;/5%& ,+9( +,4 0(+& *, /5( /(</D +,4 8&(.(,/(4 +685+?(/*3+660 ?0 ,+9( *, /5(&(1(&(,3( 6*./= "5( &(8%&/ 9;./ ?( .;?9*//(4 *, /'% 3%8*(. ;,6(.. %/5(&'*.( 5+. ?((,+)&((4 '*/5 /5( .;8(&-*.%&=

"5( .;8(&-*.%& 9+0 &(R;*&( /5+/ /5( 3+,4*4+/( .5%;64 )*-( + '&*//(, 86+, /5+/ 4(.3&*?(./5( 8&%)&(.. %1 /5( '%&> +1/(& 5+-*,) &(3(*-(4 /5*. /(</= "5( 86+, 9+0 3%,/+*, + /+?6( %1

3%,/(,/ 1%& /5( &(8%&/ +,4 +6.% +..;9(4 ;.( %1 3%98;/(& &(.%;&3(.=

N&%9 /5( &(8%&/ */ .5%;64 ?( 8%..*?6( /% *4(,/*10 /5( '%&> 3+&&*(4 %;/ ?0 /5( 3+,4*4+/(+,4 '5+/ 5+. ?((, 1%;,4 *, /5( +-+*6+?6( 6*/(&+/;&(= C/ *. *98%&/+,/ /% )*-( &(1(&(,3(. /%/5( %&*)*,+6 .%;&3( 1%& /5(%&*(. +,4 (<8(&*9(,/+6 &(.;6/.=

"5( &(8%&/ 9;./ ?( .*),(4 ?0 /5( 3+,4*4+/(D *,36;4( /5*. /(</D +88(+& +. + 8+8(&?+3>D +,4B *1 ,((4(4 B 5+-( + .(8+&+/( (,36%.;&( S?*,4(&D 7T7Q U7V '*/5 +44*/*%,+6 9+/(&*+6=

2;8(&-*.%& +/ !"!# *. J&%1(..%& U+&6 := I+&.(,

U+&6 := I+&.(,

2;?9*//(4H W+,;+&0 KLMX

7(+46*,(H MY W;,( KLMX



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

CCC

J)&'K#&

"5*. &(8%&/ &(8&(.(,/. /5( '%&> 4%,( 1%& /5( :+./(& "5(.*. *, /5( 7*.3*86*,( %1 :+&*,(Z04&%40,+9*3. O,)*,((&*,) +/ !"!#D "&%,45(*9= "5*. /5(.*. 5+. ?((, 3+&&*(4 %;/*,4*-*4;+660 *, /5( .8&*,) %1 KLMX=

"5( %?A(3/*-( %1 /5*. /5(.*. 3+, ?( 4*-*4(4 *,/% /'% 8+&/.= N*&./60 6*/(&+/;&(. ./;40 %1 /5(/5(%&0D 3%98%,(,/. +,4 8&%3(4;&(. 3%,3(&,*,) (9(&)(,30 4*.3%,,(3/*%, %1 + 4&*66*,)&*.(&= 2(3%,460 +8860 /5*. >,%'6(4)( /% 9%4(6 +,4 .*9;6+/( /5( (9(&)(,304*.3%,,(3/*%, *, /5( .%1/'+&( 2C:@ GCNIOP 4(-(6%8(4 ?0 !"!#Q:@GC!"O[=

#,1%&/;,+/(60 C 9+4( +, (&&%& *, /5( 9;4 4*.35+&)( 8&%?6(9 %1 /5( /5(.*.= "5*. (&&%&'+. 4*.3%-(&(4 /% 6+/( /% +,4 ,% /*9( '+. +-+*6+?6( /% &(B&;, +66 /5( +,+60.*.= "5(1&*3/*%, 1%&3(. +&( +44(4 *, 8%.*/*-( \B4*&(3/*%, %1 /5( &*.(&D +,4 ,%/ *, ,()+/*-( \4*&(3/*%,D +. /5(0 .5%;64 5+-( ?((,=

C '%;64 6*>( /% /5+,> 90 .;8(&-*.%& J&%1(..%& U+&6 := I+&.(, 1%& )*-*,) 9( /5*.*,/(&(./*,) /5(.*.D '5*35 C 5+4 6*//6( 8&*%& >,%'6(4)( %,= N%& /5( .;88%&/ +,4 5+,4 %;/ %14+/+=

C '%;64 +6.% 6*>( /% /5+,> G%,,0 2/(, +,4 @>(& 2%6;/*%,. 1%& 8&%-*4*,) 9( '*/5 +.8(3*1*3 &*.(& .0./(9D +,4 6(+&,*,) /5&%;)5 5*. J57 /5(.*.= 7%685*, 7&*66*,) 1%& )*-*,) 9(+, *,.*)5/ *, /5(*& 8&%3(4;&(.= ];//%&9 ]&0/^0& 1%& 5*. 8&(-*%;. '%&>= @,4&(+.@9;,4.(, 1%& /&%;?6(.5%%/*,) '*/5 2C:@ GCNIOP= @,4 +/ 6+./ /5+,>. /% /5( );0. +/ /5(%11*3( 1%& 9%/*-+/*%, +,4 .;88%&/=

C,./*/;/( 1%& :+&*,( "(35,%6%)0D "&%,45(*9

W;,(D KLMX

_______________________

@&*64 ]&^,(-*>



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

CT

"5LLK)M

"5( (9(&)(,30 4*.3%,,(3/*%, .0./(9 +,4 &(3%*6 +,+60.*. *. &(R;*&(4 1%& (-(&0 %11.5%&(4&*66*,) ;,*/= 2*/;+/*%,. 3+, %33;& '5(&( /5( -(..(6 ,((4. /% 4*.3%,,(3/ 1&%9 /5( '(66D */3+, ?( /% 6+&)( 1%&3(. /5+/ +&( ?(*,) /&+,.1(&&(4 /% /5( '(665(+4 %& /5+/ /5( -(..(6 *.;,+?6( /% 9+*,/+*, */. 8%.*/*%, %-(& /5( '(66= `5(, /5( /(,.*%,(4 &*.(& *. &(6(+.(4?(/'((, /5( abJ +,4 I:GJ */ '*66 +33(6(&+/( ;8'+&4. 4;( /% &(6(+.(4 /(,.*%, +,4;,?+6+,3(4 1%&3( 1&%9 /5( /(,.*%,(&.D /5*. *. &(1(&&(4 /% +. &*.(& &(3%*6=

"5( &*.(& /(,.*%,(& .0./(9 *. (..(,/*+6 1%& ;,4(&./+,4*,) /5( &(3%*6 +,4 */ *. 8&(.(,/(4 *,/5*. /5(.*.= "5*. .0./(9 )*-(. /5( 1%&3( -+&*+/*%, '5(, /5( &*.(& &(/&+3/. +,4 3%,/+*,. /5(.5;/B%11 -+6-(. ;.(4 *, /5( +,/* &(3%*6 .0./(9 1%& .6%'*,) 4%', /5( &*.(&=

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

"'% 9%4(6. '(&( 4(-(6%8(4 1%& /5( ;.( *, GCINOPD %,( 1%& cLL 9(/(&. '+/(& 4(8/5 +,4%,( 1%& McLL 9(/(&. '+/(& 4(8/5 .*9;6+/*,) + 4&*1/B%11 .3(,+&*%= C98+3/ ?(/'((, /5(abJ +,4 I:GJ *. +, *..;( *1 /5( &*.(& 4%(. ,%/ +35*(-( (,%;)5 6*1/ %11 +1/(& 4*.3%,,(3/*%,=@ '%&./B3+.( .3(,+&*% '+. .(/ ;8 1%& /5( cLL 9 9%4(6 *, *&&();6+& '+-(.= !% *98+3/%33;&&(4 1%& 4*11(&(,/ 4*.3%,,(3/*%, /*9*,). *, /5( .(6(3/(4 '+-(= Z%'(-(& */ '+. 1%;,4/5+/ +, *98+3/ 3%;64 ?( 86+;.*?6( *, 6+&)(& '+-(.= C, /5( 4&*1/B%11 .*9;6+/*%, &(.;6/*,)?(,4*,) 9%9(,/. %, /5( abJ +,4 '(665(+4 *. %1 1%3;.=

"5( ?;*6/ *, .6;) 9%4(6 *, GCNIOP '+. +//(98/(4 ;.(4 1%& 9%4(66*,) %1 /5( 9+.. 6%..= C/

'+. 1%;,4 /5+/ /5( .6;) 9%4(6 4%(. ,%/ '%&> 1%& + 3%986(< &*.(&D +,4 +, +6/(&,+/*-(9%4(6 '+. 4(-(6%8(4= a0 .8(3*10*,) 40,+9*3+6 ,%4+6 1%&3(. *, /5( )6%?+6 .0./(9D 1%&3(.3+, ?( .+-(4 /% /5( ,%4(. %1 /5( &*.(&= "5(, ?%/5 /5( 9+.. +,4 /5( 1%&3( &(8&(.(,/*,) /5(9+.. 6%.. '*66 ?( .+-(4 /% /5( .+9( ,%4(.D ?;/ *, 4*11(&(,/ 9+/&*3(.= "5( +6/(&,+/*-(9%4(6 8&%-*4(4 + )%%4 6*1/ %11 1&%9 /5( abJD ?;/ 4%(. ,%/ 35+,)( /5( +3/;+6 9+.. %1 /5(.0./(9= U%98&(..*%, '*66 ?( +,%/5(& 8&%?6(9 *,4;3(4 ?0 /5( 1%&3(. 6*1/*,) /5( &*.(&=2C:@ GCNIOP 8&%-(4 /% 6+3> .%9( 9%4(66*,) %8/*%,. /% .(&-( '(66 1%& + &(3%*6 +,+60.*.=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

TC

@KQ8& $' G$;-&;-/

GR7J@FE 3 =B@EAD>G@=AB 3 M=M J GOTCb#2 `bG[ @!7 Ub!"GCa#"Cb!2 K M=K : b"CT@"Cb! f " ZO : @Ub!7b @UUC7O!" X M=X b G]@!Cg@"Cb! bN "ZO "ZO2C2 h

GR7J@FE 1 @RF RF7SF GA+JFB"7@FD +7E=BF DE=??=B9 E="FE T K=M : @GC!O GC2OG i K=K GC2OG "O!2Cb!OG2 i K=X " OIO2UbJCU WbC!" @!7 "O!2Cb!OG GC!] ML K=h NIOP WbC!"2 MM K=c J GO22#GO 2j2"O: MK

"#$#% &'()*+,- . *'/ 011232/0(*)4 45'6 %" "#$#" 782(9*:: ;0/;, 45'6 %" "#$#< &'()*+,- 1*-()*/ 45'6 %< "#$#= &'()*+,- >),442), ;,44,/4 %<

K=k : @GC!O GC2OG Ub:Jb!O!"2 7@"@ Mh

GR7J@FE 4 @RF F+FE9FBGI D="GABBFG@=AB "FU>FBGF 7BD E="FE EFGA=? 3V X=M GO@2b!2 NbG 7C2Ub!!OU"C!] Mc

<#%#% ?)':(9*:: %$ <#%#" ?)';,9*:: %$ <#%#< 7(*)3 %@

<#%#= A**)'-+ :0'/2), %@ <#%#$ 780//*B +04 ,C>0-4'*- %@

X=K J GbUO7#GO2 @!7 @U"CT@"Cb! bN "ZO 2j2"O: Mk <#"#% D2(*30('1 3*6, :2-1('*- EDAFG %H <#"#" ?)':(9*:: %H

X=X a Ib`b#" JGOTO!"OG @!7 Ib`OG :@GC!O GC2OG J@U[@]O Ml <#<#% I/'-6 48,0) )034 "J

X=h " ZO OTO!"2 bN "ZO GOUbCI KL X=c 7 CNNOGO!" @2JOU"2 !OO7O7 C! @ GOUbCI @!@Ij2C2 KK

<#$#% K3>01( L,(B,,- IMN 0-6 OAPN ""

<#$#" Q*3>),44'*- 0-6 L215/'-+ "" <#$#< R0-+9*:: 6S-03'14 "<

X=k @!"C GOUbCI 2j2"O: KX <#@#% D-(' ),1*'/ :*) ?DT 1S/'-6,)4 "<

GR7J@FE W EFGA=? 7B7?I"=" 7BD +ADF??=B9 =B "=+7 E=C?FX 1V h=M ] O!OG@I :b7OIIC!] C! 2C:@ GCNIOP Kc

=#%#% OAPN 1*--,1(*) "$ =#%#" Q*--,1('-+ (,-4'*-,)4 (* (8, )'4,) "$ =#%#< F/,C U*'-(4 "@ =#%#= ?)':(9*:: "@ =#%#$ T,/,41*>'1 U*'-( "@

h=K : #7 7C2UZ@G]O Kk



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

TCC

=#"#% A*6,//'-+ *: 3044 /*44 0-6 :)'1('*-0/ :*)1,4 "H h=X : b7OIIC!] bN "O!2Cb!OG2 XL

=#<#% T,-4'*- ;0)'0('*- <% =#<#" P'4,) (,-4'*- 6'4()'L2('*- <$

h=h @!"C GOUbCI 2j2"O: Xc h=c Z j7Gb7j!@:CU Ib@72 Xc h=k TO22OI :b"Cb! Xk h=Y : b7OI M f 7 C2Ub!!OU"Cb! "C:C!] XY

=#H#% MLU,1(';, <V =#H#" Q*33,-(4 <W =#H#< P,42/(4 >), >)*1,44'-+ <W

h=i : b7OI K f 7 GCN" bNN C! #I"G@ 7OOJ `@"OG hL =#V#% MLU,1(';, =% =#V#" Q*33,-(4 =% =#V#< P,42/(4 >), >)*1,44'-+ ="

GR7J@FE V EF">?@" EFGA=? 7B7?I"=" WW c=M : @22 Ib22 7#O "b 7C2UZ@G]O bN :#7 hc c=K : b7OI M f 7 C2Ub!!OU"Cb! "C:C!] hY c=X : b7OI K f 7 GCN" bNN 2C:#I@"Cb! cK c=h ! O` :b7OI `C"Z UbGGOU" NbGUO2 D cLL : `@"OG 7OJ"Z cY c=c 2UGOO!2Zb"2 NGb: "ZO 2C:#I@"Cb!2 kM

GR7J@FE T D="G>""=AB 7BD "RAE@GA+=B9" T4

k=M : C2"@[O C! "ZO NGCU"Cb! NbGUO @!@Ij2C2 kX k=K " O!2Cb!OG 2j2"O: = kX k=X : #7 7C2UZ@G]O @!@Ij2C2 = kh k=h 2I#] :b7OI @!7 :@22 Ib22 = kh k=c T@IC7@"Cb! bN GO2#I"2 `C"Zb#" 2I#] Ib@7 kk k=k @I"OG!@"CTO :b7OIIC!] bN :@22 Ib22 kY k=Y C!NI#O!UO bN :@22 kY

GR7J@FE Y GABG?>"=AB Y3

GR7J@FE Z C>E@RFE [AE\ Y4

GR7J@FE ] EFCFEFBGF" YW GR7J@FE 32 7JJFBD=X 3



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

TCCC

?0/- $' C0N5)&/

C0N5)& 3,3^ "#.&LK-0# L$6&8 $' LK)0;& )0/&) /M/-&L_ 60)&#- K#-0;N -&;/0$;&) #M80;6&)/ `9)M-$M) &-K8, 1233a 1

C0N5)& 3,1^ b8$($5- %)&<&;-&) K- -.& +K#$;6$ K##06&;- W C0N5)& 1,3 c "#.&LK-0# L$6&8 $' -.& )0/&) -&;/0$;&) /M/-&L Y C0N5)& 1,1 c @M%0#K8 )0/&) d$0;- (0-. '$KL Q5$MK;#M &8&L&;-/ `34a Z C0N5)& 1,4 c "#.&LK-0# L$6&8 $' (0)& 80;& -&;/0$;&) /M/-&L `9)M-$M) &- K8, 1233a ] C0N5)& 1,W c D7@ /M/-&L (0-. -&;/0$;&) )0;N `3Wa 33 C0N5)& 4,3 c b8$($5- %)&<&;-&) K;6 ?$(&) +K)0;& E0/&) JK#*KN& 3] C0N5)& 4,1 b80;6 /.&K) )KL/ `12a 12 C0N5)& 4,4 c "&e5&;#& $' &<&;-/ `I0;_ 1234a 13 C0N5)& 4,W c G8$/5)& #5)<& '$) /.5-c$'' <K8<& 1W C0N5)& W,3 c +$6&88&6 )0/&) -&;/0$;&) #$;;&#-0$; 1T C0N5)& W,1 +56 60/#.K)N& <&8$#0-M_ -.& LKf0L5L <&8$#0-M 0/ 3ZLg/ K'-&) T /&#$;6/ 1] C0N5)& W,4 C)0#-0$; '$)#&/ K#-0;N $; -.& )0/&)_ 3Y22 BgL K- -.& L$/- 1] C0N5)& W,W c D0''&)&;- -&;/0$;&) L$6&8/ 43 C0N5)& W,V c @&;/0$; <K)0K-0$; '$) 1 K;6 V L /-)$*& 8&;N-. K/ '5;#-0$; $' 0;0-0K8 %)&//5)& /&--0;N 41 C0N5)& W,T @&;/0$; <K)0K-0$; '$) 42 QK) -&;/0$; /&--0;N K/ '5;#-0$; $' &8$;NK-0$; 44 C0N5)& W,Y c "-)$*& <&8$#0-M '$) )&N58K) (K<&/ 3W/ %&)0$6_ 31 L&-&) KL%80-56&_ #$))&/%$;6/ -$ K

#M80;6&) /-)$*& $' K)$5;6 hcVL&-&)/_ -.0/ 0/ #8$/& -$ -.& LKf0L5L -.& /M/-&L #K; .K;68&, 4W C0N5)& W,Z c @)K;/'&) '5;#-0$; '$) .&K<&_ .&K6 /&K 4Y C0N5)& W,] c +56 60/#.K)N& <&8$#0-M 4] C0N5)& W,32 c ?&;N.- $' L56 #$85L; W2 C0N5)& W,33 c C)0#-0$; '$)#&/ $; )0/&) BgL W2 C0N5)& W,31 c @&;/0$; <K)0K-0$; '$) Y2 QK) /&--0;N O/0;N8& -&;/0$;&)P W1 C0N5)& W,34 c +56 60/#.K)N& <&8$#0-M W1 C0N5)& W,3W c ?&;N-. $' L56 #$85L; W4 C0N5)& W,3V c C)0#-0$; '$)#&/ $; )0/&) BgL W4 C0N5)& V,3 c DM;KL0#/ $' -.& ?+EJ K'-&) 60/#$;;&#-0$;, WV C0N5)& V,1 c S&8$#0-M $' -.& -&;/0$;&)/ )&-)K#-0;N K'-&) 60/#$;;&#-0$;, WT C0N5)& V,4 c @&;/0$; Q&8$( -&;/0$;&) )0;N, b85& )&%)&/&;- #$;/-K;- LK// 8$// '$)#&_ )&6 0/ (0-.$5-

LK// 8$//_ N)&&; 0/ (0-. /&K(K-&), WY C0N5)& V,W c R&K<& KL%80-56& '$) -.& #$;60-0$; WZ C0N5)& V,V c F8&<K-0$; $' -.& ?+EJ '$) 60''&)&;- 60/#$;;&#-0$; %$0;-/, I&88$( K;6 6K)* Q85& O8$(&/-

0; 6&/#)0%-0$;P K)& '$) -.& 422*B /&--0;N, W] C0N5)& V,T^ E&-)K#-0$; /%&&6 $' -.& ?+EJ V2 C0N5)& V,Y c @&;/0$; Q&8$( -.& -&;/0$;&) )0;N '$) .0N. -&;/0$; /&--0;N K;6 8$( -&;/0$; /&--0;N V2 C0N5)& V,Z c @&;/0$; Q&8$( -.& -&;/0$;&) )0;N V3 C0N5)& V,] c G$L%)&//0$; 0; -.& )0/&) '$) 60''&)&;- <&)-0#K8 #$$)60;K-&/ V1 C0N5)& V,32 c R&K<& KL%80-56& '$) -.& <&//&8 V4 C0N5)& V,33 c b&;60;N L$L&;-/ K#-0;N $; -.& bAJ Q&'$)& 60/#$;;&#-0$; V4 C0N5)& V,31 c @&;/0$; 0; )0/&) K- cWT2 L&-&) '$) 60''&)&;- 60/#$;;&#-0$; -0L0;N/, VW C0N5)& V,34 c @&8&/#$%0# d$0;- 5%%&) K;6 8$(&) &;6 VV C0N5)& V,3W c R&K<& KL%80-56& $' <&//&8 #$L%K)&6 (0-. -&;/0$;&) L$-0$; 0; .K;N $'' L$6& VT



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

CP

C0N5)& V,3V c DM;KL0#/ $' ?+EJ 0; .K;N $'' L$6&_ )&6 80;& (0-. '$)#& 6&/#)0%-0$; $' LK// 8$//_ Q85&(0-.$5- LK// 8$// VT

C0N5)& V,3T c F8&<K-0$; $' ?+EJ K'-&) 60/#$;;&#-0$; VY

C0N5)& V,3Y c F8&<K-0$; $' ?+EJ (0-. 60/#$;;&#-0$; -0L0;N/ $' TY_ TZ_ T] K;6 Y2 /&#$;6/, VZ C0N5)& V,3Z H F8&<K-0$; $' ?+EJ, ".$(/ -.& 60''&)&;#& 0; )&/58-/ ')$L L$6&8 0; V,3 OQ85&P K;6 -.&#$))&#-&6 L$6&8 O)&6P V]

C0N5)& V,3] c @&;/0$;0;N /M/-&L Q&'$)& 60/#$;;&#-0$; K;6 K'-&) T3 C0N5)& V,12 bAJ K;6 ?+EJ 60/#$;;&#-&6 0; -.& 6)0'-c$'' /0L58K-0$; T1 C0N5)& V,13 c ?+EJ 80'-0;N $'' bAJ (0-. Q$-. <&)-0#K8 K;6 .$)0i$;-K8 L$<&L&;- T1 C0N5)& T,3 <&)-0#K8 L$<&L&;- $' -.& -&;/0$;&)/_ Q85& )&%)&/&;- )0/&) (0-. L56_ )&6 0/ -.& &L%-M

)0/&) T] C0N5)& T,1 R$)0i$;-K8 L$<&L&;- '$) -$% $' Q5$MK;#M &8&L&;- OcT2LP '$) )0/&) (0-. L56_ /&K(K-&)

K;6 &L%-M_ Q85&_ )&6_ N)&&;, Y2



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

P

?0/- $' @KQ8&/

@KQ8& 1,3 c @&;/0$;&) /M/-&L '$) 7*&) "%0-/Q&)N&; ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 31 @KQ8& 1,1 c +K)0;& )0/&) #$L%$;&;-/ `"-&;_ 1231a ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 3W @KQ8& W,3 c 9&$L&-)M '$) %)&//5)& #.K;N& #K8#58K-0$; ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 41 @KQ8& W,1 c >/&6 6)KN #$&''0#0&;-/ `9)M-$M) &- K8, 1233a ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4T @KQ8& W,4 c +K)0;& E0/&) /-K#* 5%_ V2T L (K-&) 6&%-. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4Z @KQ8& W,W c +K)0;& )0/&) /-K#* 5%_ 3V2T L (K-&) 6&%-. ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, W3 @KQ8& T,3 c BK-5)K8 Kf0K8 %&)0$6/ '$) V22L )0/&) L$6&8 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, TZ @KQ8& T,1 c BK-5)K8 Kf0K8 %&)0$6/ '$) 3V22L )0/&) L$6&8 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, TZ



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

PC

B$L&;#8K-5)&

:b7# f :%?*6( %11.5%&( 4&*66*,) ;,*/

I:GJ f I%'(& :+&*,( G*.(& J+3>+)(

abJ f a6%'%;/ 8&(-(,/(&

`Z f `(665(+4

O72 f O9(&)(,30 4*.3%,,(3/*%, .(R;(,3(

@:N f @;/%9+/*3 9%4( 1;,3/*%,!JT f !*/&%)(, 8&(..;&( -(..(6

IJ !JT f I%' 8&(..;&( ,*/&%)(, 8&(..;&( -(..(6

G[a f G%/+&0 [(660 ?;.5*,)

G@b f G(.8%,.( +986*/;4( %8(&+/%&

GbT f G(9%/(60 b8(&+/(4 -(5*36(

7@" f 7*&(3/ +3/*,) /(,.*%,(&

JIU f J&%)&+99+?6( 6%)*3 3%,/&%66(&

! K f !*/&%)(, )+.

`" f `+66 /5*3>,(..

C7 f C,/(&,+6 4*+9(/(&

b7 f %;/(& 4*+9(/(&

N/ f 1((/

`7 f '+/(& 4(8/5

"MLQ$8/

@66 (<86+,+/*%,. +&( )*-(, ?(6%' (+35 8+&/*3;6+& (R;+/*%,



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

K

C0N5)& 3,3^ "#.&LK-0# L$6&8 $' LK)0;& )0/&) /M/-&L_ 60)&#- K#-0;N -&;/0$;&) #M80;6&)/ `9)M-$M) &- K8, 1233a

)1) 2'&30,.4 5,'6 #+- /,+%'07.%0,+4m]&%,(-*>D KLMKn C, 90 8&%A(3/ '%&> C 3%,4;3/(4 + 6*/(&+/;&( ./;40 %1 /5( (9(&)(,30

4*.3%,,(3/*%, .0./(9 +,4 &(3%*6 +,+60.*.= C/ +6.% *,36;4(4 + .5%&/ 4(.3&*8/*%, %, 5%' /5(9%4(66*,) 3+, ?( 4%,( *, 2C:@ GCNIOP= "5( 8&%A(3/ )+-( +, %-(&+66 ;,4(&./+,4 %1 /5((9(&)(,30 4*.3%,,(3/*%, .0./(9D /5( -*/+6 3%98%,(,/. +,4 .8(3*+6 9%4(66*,) 8&%?6(9.=!% &(3%*6 +,+60.*. '+. 3+&&*(4 %;/ *, /5( 8&%A(3/= 2%9( 8+&/. %1 /5( 6*/(&+/;&( ./;40 +&(8&(.(,/(4 +)+*, *, /5*. /5(.*. S35+8/(& XV /% )*-( /5( &(+4(& /5( 1;66 ;,4(&./+,4*,) %1 /5(.;?A(3/=

m]&0/%0& (/ +6= KLMMn J&(.(,/. +, +&/*36( +?%;/ 9(/5%4%6%)0 1%& 40,+9*3 +,+60.*. +,4&(3%*6D ;.*,) )(,(&+6 8;&8%.( &*.(& NO@ 8&%)&+9.= "5*. +&/*36( 8&%-*4(4 )%%4 5(68 +,4;,4(&./+,4*,) %1 /5( 9%4(66*,) *..;(.= C/ 8&(.(,/. .%6;/*%,. 1%& /(,.*%,(& 9%4(66*,)D

9;4 4*.35+&)( +,4 .%9( &(.;6/. 1%& &();6+& '+-(.= 2%9( %1 /5( .5%&/3%9*,). *, /5*.+&/*36( +&( *,36;4*,) 4+98*,) -+6;(.D +,/* &(3%*6 .0./(9 +,4 -(..(6 .8(3*1*3 3%,1*);&+/*%,=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

X

m2/(,D KLMKn "5*. J57 /5(.*. 3%,3(&,. /5( 1%&3(. +,4 +33(6(&+/*%,. '%&>*,) %, 4*&(3/+3/*,) /(,.*%,(& /5+/ +&( .;?A(3/(4 /% '+-( 6%+4.= 2%9( %1 /5( '%&> 2/(, 9+4( '+. +,

*98&%-(4 9%4(6 *, GCNIOP /% )(/ + ?(//(& 1%&3( 4(.3&*8/*%,= "5*. /5(.*. 8&%-*4(4 9('*/5 .8(3*1*3 &*.(& 4+/+D G@b 1%& /5( .(9* .;?9(&.*?6( @>(& 28*/.?(&)(,D + )%%44(.3&*8/*%, %1 /5( &*.(& /(,.*%,(& .0./(9D +,/* &(3%*6 .0./(9 +,4 1%&3( -+&*+/*%, 4+/+ 1%&-+6*4+/*%, %1 90 *,8;/=

)18 9,%03#%0,+ : ;"& 9#/,+-, #//0-&+%

"5( 7((8'+/(& Z%&*\%, %& /5( :+3%,4% +33*4(,/ *. /5( 6+&)(./ 9+&*,( 3+/+./&%85( *,,('(& /*9(.= C/ &(.;6/(4 *, MM 1+/+6*/*(. +,4 %-(& h 9*66*%, ?+&&(6. %*6 .8*66(4 *,/% /5( ];61%1 :(<*3% *, KLML= "5( +33*4(,/ '+. + &(.;6/ %1 -+&*%;. (-(,/. /5+/ '(,/ '&%,)D ?%/55;9+, +,4 9(35+,*3+6 (&&%&.= b,( 3&;3*+6 8+&/ %1 /5( +33*4(,/ *,-%6-(. /5( abJ +,4 /5((9(&)(,30 4*.3%,,(3/*%, .0./(9= b;& &(.8%,.*?*6*/*(. +. (,)*,((&. +&( /% 8&(-(,/ +,0+33*4(,/. 6*>( /5*. /% 5+88(,= G(+4*,) +?%;/ /5( :+3%,4% +33*4(,/ )+-( + 6%/ %19%/*-+/*%, 1%& ./;40*,) /5( 9+&*,( &*.(& +,4 (9(&)(,30 4*.3%,,(3/*%,= "5( +33*4(,/.'*66 ?( (<86+*,(4 ?&*(160 5(&(D '*/5 1%3;. %, /5( .(+6*,) 8&%?6(9 %1 /5( '(66= C,1%&9+/*%,'+. 1%;,4 1&%9 -*4(%. (<86+*,*,) /5( (-(,/. %1 /5( +33*4(,/ 8;?6*.5(4 ?0 "&+,.%3(+,

+,4 /5( *,-(./*)+/*%, 3%99*//(( mMLnmMMn +,4 /5( 5%9(8+)( %1 "&+,.%3(+, mMKn"5( 3(9(,/+/*%, %1 /5( '(66 '+. 3%986(/(4 Mh 5%;&. ?(1%&( /5( +33*4(,/= "5( 3&(' '(&('%&>*,) 5+&4 /% 3%986(/( /5( '(66 .*,3( /5( 8&%A(3/ +6&(+40 '+. ?(5*,4 %, /5( .35(4;6(=7;&*,) /5( ,()+/*-( 8&(..;&( /(./*,) %1 /5( '(66 /5(&( '+. + 8&(..;&( *,3&(+.( %, /5(4&*66 8*8(D /5*. '+. '&%,)60 +..;9(4 /% ?( /5( &(.;6/ %1 E?6+44(& (11(3/F +,4 /5( abJ '+.%8(,(4= "5( 4&*66(& 3%,/*,;(4 /% 8;98 .(+'+/(& *,/% /5( '(66 *,./(+4 %1 9;4 /% &+*.( /5(504&%./+/*3 8&(..;&( 4*11(&(,3(= "5( *,3&(+.( *, 8&(..;&( 3+9( 1&%9 /5( &(6(+.( %1504&%3+&?%,.= `5(, /5( 3&(' &(+6*.(4 /5( 8&%?6(9 /5(0 +3/*-+/(4 /5( ;88(& +,,;6+& /%.(+6 /5( 16%'=

"5( +,,;6+& 4*4 ,%/ .;33(..1;660 ./%8 /5( 16%' 4;( /% 6+&)( 8&(..;&(. +,4 /5+/ + /%%6A%*,/ '+. 86+3(4 +/ /5( 8%.*/*%, %1 /5( +,,;6+&= `5(, /5( 9;4 /%)(/5(& '*/5504&%3+&?%,. &(+35(4 /5( /%8.*4(D + .(8+&+/*%, .0./(9 '+. +3/*-+/(4 /% .(8+&+/( %;//5( )+.= "5( .0./(9 '+. ,%/ +?6( /% 5+,46( /5( 6+&)( +9%;,/. %1 504&%3+&?%,. +,4 + )+.36%;4 ./+&/(4 .8&(+4*,) +&%;,4 %, /5( &*)= O-(,/;+660 /5*. )+. 3+9( *,/% /5( +*&B*,/+>(1%& /5( (,)*,(. +,4 9+4( /5( (,)*,(. %-(&B&(-= @, (<86%.*%, 5+88(,(4 *, /5( (,)*,(&%%9 +,4 /5( 7((8'+/(& Z%&*\%, 6%./ +66 8%'(& +,4 8%.*/*%,*,) +?*6*/0=

`5(, /5( %&4(& '+. )*-(, /% +3/*-+/( /5( (9(&)(,30 4*.3%,,(3/*%, .0./(9 /5( 86+/1%&95+4 ,% 6%,)(& 3%99;,*3+/*%, '*/5 /5( abJ= "5( 3%99;,*3+/*%, '+. 9%./ 6*>(60 6%./4;( /% /5( (<86%.*%,= @. + &(.;6/ /5( +;/%9+/*3 9%4( 1;,3/*%, S@:NV +3/*-+/(4 /5( ?6*,4



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

h

.5(+& &+9.= `5(, /5( ?6*,4 .5(+& &+9. 36%.(4D + .(3/*%, %1 /5( 8*8( )%/ /&+88(4 %;/.*4(%1 /5( +&(+ %1 /5( .5(+&*,) ?6+4(.= "5( ?6*,4 .5(+& &+9. '+. /5(, ;,.;33(..1;6 *, 3;//*,)

/5( 8*8( +,4 /5( '(66 '+. ,%/ .(+6(4= `5(, /5( &*) 3%;64 ,%/ 4*.3%,,(3/ 1&%9 /5( '(66D/5( %&4(& /% +?+,4%, .5*8 '+. )*-(,= @1/(& ?;&,*,) 1%& Xk 5%;&. /5( .(9*.;?9(&.*?6(.+,>= 2*,>*,) 9+4( /5( 9+&*,( &*.(& /% 3%9( 4%', +66 ?;3>6(4 ;8= "5( &*.(& ?;&./ + 1('9(/(&. +?%-( /5( I:GJD +,4 5*)5 8&(..;&( %*6 1&%9 /5( &(.(&-%*& '+. 16%'*,) %;/ +/ +&+/( %1 %-(& XcLLL ?+&&(6. 8(& 4+0= C/ /%%> iY 4+0. /% .;33(..1;660 .(+6 /5( 16%'= "5(9+*, 8&%?6(9. '(&( 4;( /% /5( '+/(& 4(8/5 %1 MkLL 9(/(&.D +,4 5*)5 8&(..;&( 1&%9 /5(4((8 '(66 ML LLL 9(/(&. ?(6%' /5( .(+?(4=

C0N5)& 3,1^ b8$($5- %)&<&;-&) K- -.& +K#$;6$ K##06&;-

)1< ='>#+0?#%0,+ ,@ %"& %"&404

• U5+8/(& KH ]*-(. + 4(/+*6(4 (<86+,+/*%, %1 /5( 5(+-( 3%98(,.+/(4 9+&*,( 4&*66*,)&*.(& +,4 +66 %1 */. 3%98%,(,/.= 28(3*+6 +//(,/*%, *. )*-(, /% /5( &*.(& /(,.*%,(&.

+,4 8&(..;&( .0./(9=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

c

• U5+8/(& XH J&(.(,/. /5( (9(&)(,30 4*.3%,,(3/*%, .0./(9 +,4 &*.(& &(3%*6D '50 */*. ,((4(4 +,4 */. -*/+6 3%98%,(,/.=

• U5+8/(& hH J&(.(,/. 5%' /5( &(3%*6 +,+60.*. *. 86+,,(4D 9%4(66*,) +.8(3/. D 8&(B8&%3(..*,) +,4 /5( 1*,+6 9%4(6.=

• U5+8/(& cH J&(.(,/. +66 /5( &(.;6/. +,4 .%9( 3%99(,/.

• U5+8/(& kH J&(.(,/. /5( 4*.3;..*%,D 8&%?6(9. +,4 .5%&/3%9*,). %1 /5( /5(.*.=

• U5+8/(& YH U%,36;.*%,



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

k

!"#$%&' 8 ;"& "&#3& /,A$&+4#%&- A#'0+& -'0BB0+> '04&'

O..(,/*+6 1%& +66 %11.5%&( '(66 %8(&+/*%,. *. /5( 5(+-( 3%98(,.+/*,) .0./(9= `5(,(-(&/5(&( +&( '+-(. + 86+/1%&9 %& -(..(6 '*66 5+-( &(6+/*-( 9%/*%, /% /5( .(+ ?%//%9= 2*,3( +4&*66*,) &*) *. 850.*3+6 3%,,(3/(4 /% /5( .(+?(4 '*/5 /5( 9+&*,( &*.(& */ ,((4. + .0./(9/5+/ 3%98(,.+/(. 1%& /5( &(6+/*-( 9%/*%,= @ )(,(&+6 ;,4(&./+,4*,) %1 5%' /5*. .0./(9'%&>. *. ,((4(4 /% ;,4(&./+,4 /5( (9(&)(,30 4*.3%,,(3/*%, +,4 &(3%*6= "5*. 35+8/(&(<86+*,. /5( 9+A%& 3%98%,(,/. *,-%6-(4D /5(*& 1;,3/*%, +,4 5%' */ '%&>. /%)(/5(&= "5(

?6%' %;/ 8&(-(,/(& +,4 /5( 6%'(& 9+&*,( &*.(& 8+3>+)( +&( *,/&%4;3(4 *, 35+8/(& X=

"5( &(3%*6 +,+60.*. (<(3;/(4 *, /5*. /5(.*. *. ?+.(4 %, &*.(& +,4 .0./(9 4+/+ 1&%9 /5(@>(& 2%6;/*%,. .(9* .;? E@>(& 28*/.?(&)(,F= "5*. 4+/+ *. 8&(.(,/(4 6+./ *, /5*. 35+8/(&+,4 '+. )*-(, /% 9( /5&%;)5 /5( J57 /5(.*. %1 G%,,0 2/(,= m2/(,D KLMKn

@/ /5( 6%'(& (,4 %1 /5( 9+&*,( &*.(& '( 5+-( /5( ?6%'%;/ 8&(-(,/(& Sab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



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Y

C0N5)& 1,3 c "#.&LK-0# L$6&8 $' -.& )0/&) -&;/0$;&) /M/-&L



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

i

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

&'()*+, -.)/&0 *+/ 1+2' )/ 0&+/3+23 ,%/4&$0 52.6 78 &. 9:6! ;/% 2)0%2 -.)/& +,./% )0 + 5+)2,' 0&)55

*./0&2<*&)./= ><& ?$%/ &$%' +2% (<& &.4%&$%2 5.2 3%%( ?+&%2 32),,)/4 &$%' $+1% ,)&&,% 4,.>+,

0&)55/%00 +/3 3%(%/30 ./ &%/0)./ &. 4<+2+/&%% + 0&2+)4$& 2)0%2 *.,<6/! @ 0&2+)4$& *.,<6/ )0

*2)&)*+, 5.2 ,%&&)/4 &$% 32),, ()(% (+00 &$2.<4$ +/3 &. /.& >%/3 .2 ><*A,% &$% *./0&2<*&)./! #$%

+((,)*+&)./ .5 &%/0)./ &. &$% 2)0%2 $+((%/0 >' /.26+,,' B .2 6.2% $'32+<,)* &%/0)./%20!

C0N5)& 1,1 c @M%0#K8 )0/&) d$0;- (0-. '$KL Q5$MK;#M &8&L&;-/ `34a

818 C04&' %&+40,+&'4

"5(&( +&( 9+*,60 /'% /08(. %1 &*.(& /(,.*%,(&. ;.(4D /5( 4*&(3/ +3/*,) /(,.*%,(& S7@"V+,4 + '*&( 6*,( /(,.*%,(& .0./(9= a%/5 .0./(9. ;/*6*\(. 504&+;6*3 8;66*,) 306*,4(&.D 7@"



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

l

+&( 4*&(3/60 3%,,(3/(4 ?(/'((, /5( /(,.*%,(& &*,) +,4 4&*66*,) ;,*/= "5( 306*,4(&. %, /5('*&( 6*,( .0./(9 +&( 86+3(4 %, 4(3> +,4 3%,,(3/(4 /% /5( /(,.*%,(& &*,) /5&%;)5 ?6%3>.

+,4 '*&(.= "08*3+6 ./&%>( 6(,)/5. 1%& + '%&64 '*4( 4&*66*,) ;,*/ +&( Mk9(/(&.= "%/+6/(,.*%, +886*(4 /% /5( &*.(& 3+, ?( *, /5( &+,)( %1 KLLLBiLLL>!=

"5( 7@" .0./(9 *. 4(9%,./&+/(4 *, 1*);&( K=M= "5( 1%66%'*,) 1*);&( )*-(. + .*986(.35(9+/*3 9%4(6 /5( '*&( 6*,( /(,.*%,(&.=

C0N5)& 1,4 c "#.&LK-0# L$6&8 $' (0)& 80;& -&;/0$;&) /M/-&L `9)M-$M) &- K8, 1233a

"5( 9+*, 1;,3/*%, %1 /5( &*.(& /(,.*%,(&. *. /% >((8 + ,(+&60 3%,./+,/ /(,.*%, *, /5(9+&*,( &*.(&= "5( /(,.*%,(&. (,.;&( (,%;)5 )6%?+6 ./*11,(.. /% >((8 /5( 3%6;9, '*/5*,/5( 6*9*/. S4()&((. +/ ;88(& +,4 6%'(& 16(< A%*,/V +,4 /% ,(-(& 5+-( 6%3+6 3%98&(..*%,="5( /%/+6 /(,.*%, ,((4(4 '*66 4(8(,4 %, /5( 3%,4*/*%,D '+/(& 4(8/5D 9;4 '(*)5/ +,4?;%0+,30 %1 /5( 4&*66*,) &*.(&= @, (R;+/*%, 1%& /5( 9*,*9;9 /%8 /(,.*%, &(R;*&(4 *.)*-(, ?0 /5( @9(&*3+, J(/&%6(;9 C,./*/;/( m@JC Mkon=

! !"# !

! !" !"#!

! ! ! ! ! ! ! OR= K=M

`5(&(p

! !" !"# ! !

!! !" ! !

!! !" ! ! ! !

!!

!! !

!!

! ! :*,*9;9 .6*8 &*,) /(,.*%,



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

ML

!!

! 2;?9(&)(4 &*.(& '(*)5/ +?%-( /5( 8%*,/ %1 3%,.*4(&+/*%,

! !"

!

2;?9(&)(4 '(*)/ /%6(&+,3( 1+3/%& S9*,*9;9 -+6;( q M=Lc ;,6(.. +33;&+/(60'(*)5(4V

!!

! !(/ 6*1/ ?;%0+,30 9+/(&*+6 +?%-( /5( 8%*,/ %1 3%,.*4(&+/*%,

! !" ! a;%0+,30 6%.. +,4 /%6(&+,3( 1+3/%& &(.;6/*,) 1&%9 (6+./*3 3%98&(..*%,D 6%,) /(&9'+/(& +?.%&8/*%, +,4 9+,;1+3/;&*,) /%6(&+,3( S9+<*9;9 -+6;( q L=lk ;,6(..+33;&+/(60 >,%', ?0 .;?9(&)(4 '(*)5*,) ;,4(& 3%98&(..*%, +/ &+/(4 4(8/5V

! ! ! C,/(&,+6 3&%.. .(3/*%, +&(+ %1 &*.(& *,36;4*,) 35%>(D >*66 +,4 +;<*6*+&0 16;*4 6*,(.

! ! ! 7&*66*,) 16;*4 '(*)5/ 4(,.*/0!

! ! 7&*66*,) 16;*4 3%6;9, /% /5( 8%*,/ %1 3%,.*4(&+/*%,

!!

! 2(+'+/(& '(*)5/ 4(,.*/0

!!

! 2(+'+/(& 3%6;9, /% 8%*,/ %1 3%,.*4(&+/*%,

! ! !;9?(& %1 /(,.*%,(&. .;88%&/*,) /5( &*.(&

! ! !;9?(& %1 /(,.*%,(&. .;?A(3/ /% .;44(, 1+*6;&(

! ! ! G(4;3/*%, 1+3/%& &(6+/*,) -(&/*3+6 /(,.*%, +/ /5( .6*8 &*,) /% /(,.*%,(& .(//*,) /%+33%;,/ 1%& 16((/ +,)6( +,4 9(35+,*3+6 (11*3*(,30 S;.;+660 L=l f L=lcV

"5*. *,-%6-(. + 1+*&60 6+&)( +9%;,/ %1 -+&*+?6(. +,4 3%,./+,/.= @ .*986*1*(4 /(,.*%,&(R;*&(9(,/ *. /5+/ /5( &(.;6/*,) /(,.*%, ?(/'((, /5( abJ +,4 I:GJ .5%;64 ?( ?(/'((,XLf kL /%,,(. m]&0/%0& (/ +6= KLMMn= "5( /(,.*%, *. %8/*9+6 '5(, */ 5%64. /5( &*.(&3%6;9, ./&+*)5/D (,.;&(. + .+1( 6*1/B%11 1&%9 /5( abJ *, + 4*.3%,,(3/*%, +,4 4%(. ,%//&+,.1(& +,0 /(,.*%, 1%&3( /% /5( '(665(+4= "5( 6+//(& *. (,.;&(4 ?0 /5( 6+&)( '(*)5/ %1

/5( abJ= Z%'(-(&D /5( '(665(+4 '*66 ?( .;?A(3/(4 /% .%9( ?(,4*,) 9%9(,/.=

81< ;&B&4/,$0/ D,0+% #+- %&+40,+&' '0+>

"5( ;88(& (,4 %1 /5( &*.(& *. 3%,,(3/(4 /% /5( 86+/1%&9 .6*)5/60 ?(6%' /5( 4&*66 4(3>= "5(&(6+/*-( -(&/*3+6 9%-(9(,/ ?(/'((, -(..(6 +,4 /5( .(+?(4 ,((4. /% ?( 3%98(,.+/(4="5*. 5+88(,. /5&%;)5 /5( /(6(.3%8*3 A%*,/ S+6.% 3+66(4 .6*8 A%*,/V= C/ *. 9+4( ;8 1&%9 /'%

8*8(. +66%'*,) 1%& -(&/*3+6 9%-(9(,/. ?(/'((, /5(9 S%;/(& +,4 *,,(& ?+&&(6V=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

MM

"5( 1&(( 6%'(& (,4. %1 /5( /(,.*%,(&. +&( 3%,,(3/(4 '*/5 .5+3>6(. /% /5( /(,.*%,(& &*,)="5( &*,) +)+*, )%(. +&%;,4 /5( %;/(& ?+&&(6 %1 /5( /(6(.3%8*3 A%*,/D +,4 3%986(/*,) /5(

/(,.*%, +886*3+/*%, /% /5( &*.(&= 2((, 1&%9 8*3/;&(. %& 9%4(6. %1 /5( /(,.*%,(& .0./(9D/5( &*,) */.(61 6%%>. 6*>( + -(&0 .9+66 8+&/ %1 /5( .0./(9= "5( 1%66%'*,) 8*3/;&( .5%'. +/(,.*%,(& &*,) ;,4(& 3%,./&;3/*%,D +,4 4(9%,./&+/(. /5( 9+..*-( 4*9(,.*%,. %1 /5(.0./(9=

C0N5)& 1,W c D7@ /M/-&L (0-. -&;/0$;&) )0;N `3Wa

81E FB&G D,0+%4

a%/5 3;&&(,/ +,4 5%&*\%,/+6 4*.86+3(9(,/ %1 /5( &*.(& '*66 3+;.( 3;&-+/;&( *, /5( &*.(&="% ,%/ /&+,.1(& 8%/(,/*+6 5+&91;6 ?(,4*,) 9%9(,/. /% /5( &*.(&D 16(< A%*,/. +&( ;.(4 +//5( ;88(& (,4 %1 /5( &*.(& +,4 +/ /5( 6%'(& (,4 +?%-( /5( I:GJ= "5(.( 16(< A%*,/. +&(.8(3*+6 4(.*),(4 /% '*/5./+,4 5*)5 /(,.*%,D +66%' 4&*66 8*8( +,4 9;4 /% 8+.. /5&%;)5 +,4+66%' 1%& .9+66 &%/+/*%,.= "5( ;88(& 16(< A%*,/ 9+>(. .;&( /5+/ /5( &%66 %& 8*/35 9%/*%, %1/5( -(..(6 4%(. ,%/ )(/ /&+,.1(&&(4 /% /5( &*.(& mMcn=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

MK

81H 2'&44.'& 4I4%&A

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h 8&(.(,/(4 (+&6*(& *, /5*. 35+8/(&= "5( 1%66%'*,) /+?6( )*-(. /5(

4(/+*6. 1%& /5( .0./(9 %, @>(& 28*/.?(&)(, m2/(,D KLMKn=G$L%$;&;-;5LQ&)

G$L%$;&;- B5LQ&) $' "0i&

M G*.(& /(,.*%,(&306*,4(&

k rckLQrKXL<MkXLL./&%>(

K !*/&%)(,Q%*6+33;9;6+/%& .>*4.

K kshLLL 6*/&(.S/'% ?%//6(. 1%& (+35 306*,4(&V

X 25;/B%11 -+6-( .>*4. K k<iF .5;/B%11 -+6-(.h !*/&%)(, 3%,/&%6

.>*4.K X<hF 5*)5 8&(..;&( 6*,(.

c `%&>*,). !JTt. Kh KKcL 6*/&(.QKLY ?+&k 2/+,4?0 !JTt. ML MlhL 6*/&(.QXML?+&Y I%' 8&(..;&( !JTt. K KLLL 6*/&(.QML?+&i !*/&%)(, )(,(&+/%& K K<MLL! 9 XQ5 ! K )(,(&+/%&l !*/&%)(, ZJ

3%98&(..%&K MLL! 9 XQ5 uXML ?+&

3%98&(..%&@KQ8& 1,3 c @&;/0$;&) /M/-&L '$) 7*&) "%0-/Q&)N&;

81H1) J0%',>&+ K ,0B #//.A.B#%,'4 460-"5( +33;9;6+/%&. +&( -(&/*3+660 9%;,/(4 8&(..;&*.(4 /+,>. 3%,/+*,*,) %*6 +,4 ,*/&%)(,="5( 306*,4(&. +&( .;886*(4 '*/5 504&+;6*3 %*6 1&%9 /5( ?%//%9D +,4 /5( /%8 *. 3%,,(3/(4/% /5( ,*/&%)(, 8&(..;&( -(..(6.= @. /5( 16;*4 6(-(6 35+,)(.D ,*/&%)(, )%(. *, +,4 %;/ %1/5( .0./(9 /% 9+*,/+*, + 36%.( /% 3%,./+,/ 8&(..;&( m2/(,D KLMKn=

81H18 L".%M,@@ 3#B3& 460-@ .5;/B%11 -+6-( *. *,./+66(4 1%& (+35 306*,4(& %, /5( 504&+;6*3 8*8*,) ?(/'((, /5(/(,.*%,*,) 306*,4(& +,4 /5( +33;9;6+/%&= "5(*& 8;&8%.( *. /% ?( +?6( /% .5;/ %11 /5(504&+;6*3 .;8860 /% /5( 306*,4(&. *1 ,((4(4= "5( -+6-(. +&( JIU S8&%)&+99+?6( 6%)*33%,/&%66(4V *, + 36%.(4 6%%8= C, /5( (-(,/ %1 + 4*.3%,,(3/*%,D &*.(& 1+*6;&(D &%4 ?&(+> %& +



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

MX

&*,) ?&(+> /5( -+6-(. '*66 36%.(= 7(8(,4+,/ %, /5( 1+*6;&( /5(0 '*66 *99(4*+/(60 &(4;3(/5( %*6 .;8860 +,4 .6%' /5(9 4%', /% ,%/ 3+;.( 5*)5B.8((4 *98+3/. m2/(,D KLMKn=

81H1< J0%',>&+ /,+%',B 460-"5( ,*/&%)(, 3%,/&%6 .>*4 *. 6%3+/(4 %, /5( 8*8*,) ?(/'((, /5( %*6 +33;9;6+/%&. +,4 /5(,*/&%)(, 8&(..;&( -(..(6.= "5( 9+*, 8;&8%.( *. /% 9%,*/%& +,4 3%,/&%6 /5( .;8860 %1,*/&%)(,= a%/5 /5( 5*)5 8&(..;&( +,4 6%' 8&(..;&( .0./(9 )%(. /5&%;)5 /5( .>*4= C/ 3+,*,3&(+.( %& 4(3&(+.( /5( 8&(..;&( *, /5( ,*/&%)(, 8&(..;&( -(..(6. m2/(,D KLMKn=

81H1E J0%',>&+ $'&44.'& 3&44&B4C, /%/+6 /5(&( +&( /5&(( 4*11(&(,/ >*,4. %1 8&(..;&( -(..(6. '*/5 4*11(&(,/ 8;&8%.(. *, /5(8&(..;&( /(,.*%,*,) .0./(9= "5( '%&>*,) !JTt. 8&%-*4(. 8&(..;&( /% /5( /(,.*%,(&. +,4+3/. 6*>( + 8,(;9+/*3 .8&*,)= I+&)( -%6;9(. '*66 9*,*9+6*\( /5( /(,.*%, -+&*+/*%,. /% /5(306*,4(&. m2/(,D KLMKn=

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

?;*64 ;8 %, /5( 8*./%, .*4( '%&>*,) +)+*,./ /5( 8&(..;&( %, /5( &%4 m2/(,D KLMKn="5( ./+,4?0 !JTt. )*-(. + &(4;,4+,30 /% /5( .0./(9D /5(0 ./%&( R;*3> +33(..*?6( 5*)5B8&(..;&( ,*/&%)(,= "5(0 8&%-*4( (</&+ 8&(..;&( /% /5( .0./(9 *1 ,((4(4 m2/(,D KLMKn=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Mh

81N

9#'0+& '04&' /,A$,+&+%4 -#%#

@M%& D&/#)0%-0$; SK85&/ G$LL&;-/+K)0;& )0/&) `" KK=KKc 99

b7 cXX=h 99C7 hii=lc

bAJ b7 c=c 9C7 hYk 99:+.. 4&0 KKk YhL >)

:+.. .;?9(&)(4 MlY Kkh >)?+EJ b7 h=c 9

C7 hYk 99:+.. 4&0 MMk hXX >):+.. .;?9(&)(4 MLMKlY >)

+K)0;& )0/&)(0-. Q5$MK;#M

:+< b7 MXYM=k 99W%*,/ 6(,)/5 KK=ik 9T%6;9(D 8(& A%*,/ KM=K 9X

@&8&/#$%0# d$0;- :+.. XM LLL >) O<= /(,.*%,(& &*,)I(,)/5 XK=L 9 :*4./&%>(

:+.. Kh KLL >) b;/(& ?+&&(6 (<= "(,.*%,(& &*,):+<*9;9 ./&%>( Mi=X 9N&*3/*%, vQB MLL>!b7 S%;/(& ?+&&(6V kkL=h 99`" S%;/(& ?+&&(6V Kc=h 99b7 S*,,(& ?+&&(6V cKY=X 99`" S*,,(& ?+&&(6V Ml=M 99

@&;/0$;&) )0;N :+.. ML LLL>)>%%&) '8&fcd$0;- G%/+/*%,+6 ./*11,(.. MK=ii >!9Q4()

:+< '%&>*,) /(,.*%, ilLL >!:+< 3%98&(..*%, lL >!:+< +,);6+& 4(16(3/*%, vQB ML4()

?$(&) '8&fcd$0;- G%/+/*%,+6 ./*11,(.. lK=K >!9Q4():+< '%&>*,) /(,.*%, ilLL >!:+< +,);6+& 4(16(3/*%, vQB ML4()

@KQ8& 1,1 c +K)0;& )0/&) #$L%$;&;-/ `"-&;_ 1231a



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Mc

!"#$%&' < ;"& &A&'>&+/I -04/,++&/%0,+ 4&O.&+/& #+- '04&' '&/,0B

"5( (9(&)(,30 4*.3%,,(3/*%, .(R;(,3( SO72V 9+>(. */ 8%..*?60 1%& + 9%?*6( %11.5%&(4&*66*,) ;,*/ S:b7#V /% .(3;&(60 4*.3%,,(3/ /5( &*.(& 1&%9 /5( ?6%'%;/ 8&(-(,/(&= "5(,((4 1%& 4*.3%,,(3/*,) 3+, 3%9( 1&%9 .(-(&+6 4*11(&(,/ .3(,+&*%.D ?;/ */ *. 9+*,60 '5(,/5( 4&*66*,) ;,*/ 3+, ,% 6%,)(& 9+*,/+*, */. 8%.*/*%, %-(& /5( '(66 +,4 /% ,%/ 4+9+)( /5(

'(665(+4 ?0 /&+,.1(&&*,) 6+&)( 1%&3(.= "5( 4*.3%,,(3/*%, 5+88(,. ?(/'((, /5( abJ +,4I:GJD +/ /5( I:GJ 3%,,(3/%&= "5( abJ &(9+*,. %-(& /5( '(665(+4 +,4 .(+6. */ %11= "5(I:GJ +,4 &*.(& +&( 6*1/(4 36(+& +,4 /5( 86+/1%&9 3+, 9%-( 1&((60= C1 /5(&( *. + 4&*66 8*8( *,/5( '(66D ?6*,4 .5(+& &+9. '*66 3;/ /5&%;)5 /5( 8*8( +,4 .(+6 /5( '(66= "5*. .0./(9 *.&(R;*&(4 1%& +66 40,+9*3+6 8%.*/*%,(4 +,4 9%%&(4 4&*66*,) ;,*/. m[+-+,+)5 (/ +6= KLLKn=

<1) C&#4,+4 @,' -04/,++&/%0+>"5( 9+*, &(+.%, /% 4*.3%,,(3/ *. '5(, /5( 86+/1%&9 3+,,%/ 5%64 */. 8%.*/*%, %-(& /5('(66= I+&)( %11.(/. 3+, 3+;.( ./&%>*,) %;/ %1 /5( /(6(.3%8*3 A%*,/ %& /5( /(,.*%,(&.= "%+-%*4 4+9+)( /% /5( '(665(+4 +,4 /5( (R;*89(,/ /5( (9(&)(,30 4*.3%,,(3/*%, *.+3/*-+/(4= :+,0 4*11(&(,/ ;,8&(4*3/+?6( .3(,+&*%. 9*)5/ 5+88(, /% + 86+/1%&9 /5+/ '*669+>( */ ,((4 /% 4*.3%,,(3/D 1%& (<+986( /5( :+3%,4% +33*4(,/=

<1)1) P'0@%M,@@7&*1/B%11 *. '5(, /5( 40,+9*3+6 8%.*/*%,*,) .0./(9 %1 /5( 86+/1%&9 ,% 6%,)(& 3+, >((8/5( 86+/1%&9 *, 86+3(= @. /5( 86+/1%&9 '*66 ,%/ ?( 8;/ /% %8(&+/*%, *, 5+&.5(&(,-*&%,9(,/ /5(, /5( 7J .0./(9 3+, 5+,46(D /5*. *. + 8&%?6(9 ,%&9+660 3+;.(4 ?0 6%..%1 8%'(&D 9+61;,3/*%, *, /5( .0./(9D (,)*,( ?&(+>4%',D 9(35+,*3+6 %& 5;9+, (&&%&.=`5(, /5( 7J .0./(9 ,% 6%,)(& 3+, 5%64 /5( 8%.*/*%,D /5( 1%&3(. '*66 ?( /&+,.1(&&(4 /% /5(&*.(& 3%,,(3/(4 /% /5( '(665(+4= "5*. '*66 3+;.( + 6%/ %1 8;66*,) +,4 5%&*\%,/+6 1%&3(.S4;( /% /5( %11.(/ %1 /5( &*)V /5+/ '*66 %& 9*)5/ 4+9+)( /5( '(66 m[+-+,+)5 (/ +6= KLLKn=

<1)18 P'03&M,@@@ 4&*-(B%11 *. 9;35 /5( .+9( +. + 4&*1/B%11D ?;/ /5( 3+;.( *. 4*11(&(,/= C/ 3%9(. 1&%9 +9+61;,3/*%,*,) *, /5( 7J .0./(9 3+;.*,) /5( &*) /% 4&*-( %11 1&%9 */. 6%3+/*%,= "5*. 3+, ?(+ -(&0 3&*/*3+6 (-(,/ 4;( /% 5*)5(& -(6%3*/*(.= "5*. )*-(. + .5%&/ +-+*6+?6( /*9( /% +3/*-+/(/5( O72 ?(1%&( /5( 5%&*\%,/+6 %11.(/ )(/. /% 6+&)( m[+-+,+)5 (/ +6= KLLKn=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Mk

<1)1< L%,'A

](,(&+660 /5( :b7# '*66 4*.3%,,(3/ 1&%9 /5( '(66 ?(1%&( + ./%&9 *. 1;660 4(-(6%8(4= C1/5( ./%&9 1%&(3+./(4 *. 6+&)(& /5(, /5( %8(&+/*%,+6 6*9*/. 1%& /5( 4&*66*,) ;,*/D /5(, */,((4 /% 4*.3%,,(3/ ?%/5 1%& .+1(/0 %1 &*) +,4 ,%/ /% 3+;.( 4+9+)( /% /5( '(665(+4= "5*. *.3+66(4 + 86+,,(4 4*.3%,,(3/*%,= "5( ];61 %1 :(<*3% *. +, +&(+ '*/5 + 6%/ %1 40,+9*3+68%.*/*%,(4 4((8B'+/(& 4&*66*,)= `5(, /5(&( *. + ./%&9 '+&,*,) /5( 4&*66*,) ;,*/ '*66 8;66;8 /5( 4&*66 8*8( +,4 4*.3%,,(3/= N%& 6+&)( 4(8/5. /5*. .(R;(,3( 3+, /+>( ;8 /% KBX 4+0.+,4 3+;.(. + 6%/ %1 4%',/*9( 1%& /5( &*).= Z%'(-(& *1 /5( ./%&9 *. 6+&)(& /5+, +,/*3*8+/(4%& /+>(. /5( -(..(6 ?0 .;&8&*.( + 4*.3%,,(3/*%, *, /5( ./%&9 *. ,((4(4= O-(, *1 /5(9%%&*,) %& 40,+9*3+6 8%.*/*%,*,) 3+, 5%64 /5( -(..(6 *, 8%.*/*%, */ ,((4. /% 4*.3%,,(3/

/% ,%/ 4+9+)( (R;*89(,/ %& /5( '(665(+4 m[+-+,+)5 (/ +6= KLLKn mU= !);0(, (/ +6= KLLkn=I*9*/. 1%& 4*.3%,,(3/*%, -+&0 1%& 4*11(&(,/ -(..(6. +,4 .0./(9 4(.*),= 2%9( %8(&+/*%,+64&*66*,) 6*9*/. 1&%9 7%685*, 7&*66*,) +&( )*-(, +. (<+986(. 5(&( mMYn=

I/015:*)6 ?*/>8'-X D5,) R< 4,3'42LX 6)'//'-+ 1*-6'('*-4Y

• R 4 V#= 3• A0C B'-6 %JJ 5-*(4

I*/,((, ?*/>8'- 6)'//48'>X 6)'//'-+ 1*-6'('*-4Y

• R 4 Z @#H 3• T > Z %J9%< 4X• [ B'-6 Z "$ 3.4• [ 12)),-( Z J#V 3

<1)1E 9,,'0+> @#0B.'&2(-(&( 9%%&*,) 1+*6;&( 3+, 3+;.( /5( -(..(6 /% 4&*1/ %11 1&%9 */. 8%.*/*%,D +,4 */ '*66 /5(,,((4 /% 4*.3%,,(3/ *, /5( .+9( '+0 +. 1%& + 4&*1/B%11 m[+-+,+)5 (/ +6= KLLKn=

<1)1H L"#BB,5 >#4 &G$#+40,+`5(, )+. 6(+>. %;/ %1 /5( '(66 %& .(+?(4 +,4 (<8+,4. ;8'+&4. /5&%;)5 /5( .(+ 3%6;9,*/ (,4+,)(&. /5( ?;%0+,30 %1 /5( -(..(6= m7%685*, 7&*66*,)D KLMXn 5+. + 8&%3(4;&( 3+66(4E25+66%' )+. +,4 (9(&)(,30 8;66 %1 8&%3(4;&(F S*,/(&,+6 36+..*1*(4 4%3;9(,/V= C1 /5( )+.6(+> 3+,,%/ ?( ./%88(4 /5( &*) ,((4. /% 4*.3%,,(3/ +,4 8;66 %11 6%3+/*%,= "5( 8;66 %18&%3(4;&( 3+, ?( .86*/ *,/% 3%,/&%66(4 8;66 %11 +,4 (9(&)(,30 8;66 %11= "5( ,+9( 8;66 %113%9(. 1&%9 /5( 9%%&*,) %1 /5( &*) '5(&( */ ;.(. /5( '*,35(. /% 8;66 %11 /5( 6%3+/*%,=

<18 2',/&-.'&4 #+- #/%03#%0,+ ,@ %"& 4I4%&A2*,3( /5( (9(&)(,30 4*.3%,,(3/*%, *. 3+.( 4(8(,4+,/D /5(&( *. ,% (+.0 '+0 /% 4(.3&*?(/5( )(,(&+6 8&%3(4;&(= C/ '*66 4(8(,4 %, '50 /5( 4*.3%,,(3/*%, *. ,((4(4 +,4 /5( ./+/(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

MY

%1 /5( -(..(6= O-(&0 (9(&)(,30 .0./(9 ,((4. /% ?( &(4;,4+,/ +,4 )(,(&+660 /5(&( +&(/5&(( 4*11(&(,/ '+0. /% *,*/*+/( /5( 4*.3%,,(3/*%,H :+,;+660 1&%9 /5( ?&*4)( %& 3%,/&%6

&%%9D +;/%9+/*3 9%4( 1;,3/*%, S@:NV +,4 /5&%;)5 GbT *,/(&-(,/*%, 6%3+660 +/ /5( abJ=@3/*-+/*,) /5( O72 '*66 6(+4 /% + .(R;(,3( %1 (-(,/.= b,( (<+986( '+. 1%;,4 *, ma(&,+&4(/ +6= KLLhn=

0G Q/*4, 0// 4'6, *2(/,( ;0/;,4X 482(6*B- 326 >23>4\LG N'15 >'>, 2> *:: L*((*3 :*) >),>0)0('*- (* 80-+ *::\1G Q/*4, >'>, )034\6G R0-+ *:: >'>,X L0/0-1, >'>, /*06 :*) -,2()0/ B,'+8( 48,0) (* 0;*'6 30'- L/*15

),1*'/\,G O*15 >'>, )034\

:G Q/*4, 48,0)'-+ )034 E30S 0/4* L, 4,0/'-+ 48,0).L/'-6 )034G\ +G N'15 2> >'>,\8G Q/*4, L/'-6 )034X ': 6'::,),-( :)*3 48,0) )034\'G O*15 L/'-6 )034\ UG [,-( 0// >*6 (* 4(015 >),442), 1*--,1('*-4\5G [,-( OAPN 0--2/0) >),;,-(,)E4G\/G ]-/0(18 OAPN 1*--,1('*-4X 30'- 1*--,1(*)X 3'-' 1*--,1(*)4X ': :'((,6\3G D1(';0(, )'4,) ),1*'/ 4S4(,3#

:%&( )(,(&+660 */ 3+, ?( .+*4 /5+/ /5( O72 '*66 3;/ /5( 4&*66 8*8(D .(+6 /5( '(66D %8(,+,,;6+& 1%& 9;4 &(6(+.( S*1 36%.(4V +,4 4*.3%,,(3/ /5( I:GJ 3%,,(3/%&= @3/*-+/*%, %1+,/* &(3%*6 .0./(9 3+, 5+88(, 9+,;+660 %& +;/%9+/*3+660 4(8(,4*,) %, .0./(9= "*9(1&%9 O72 +3/*-+/*%, /% 4*.3%,,(3/*%, %1 /5( &*.(& 3+, ?( +&%;,4 kL .(3%,4.=

<181) Q.%,A#%0/ A,-& @.+/%0,+ RQ9FS"5( O72 *. 4(.*),(4 /% +3/*-+/( +;/%9+/*3 *1 /5( 3%99;,*3+/*%, ?(/'((, /5( ?&*4)( +,4abJ *. 6%./= "5*. *. 3+66(4 /5( +;/%9+/*3 9%4( 1;,3/*%,= "5( .;&1+3( -(..(6 5+. ?%/5504&+;6*3 +,4 (6(3/&*3 3%99;,*3+/*%, '*/5 /5( abJ= C1 /5(.( /'% 6*,(. +&( 4+9+)(4 +,4

/5( 3%,,(3/*%, '*/5 /5( abJ *. 6%./ */ +3/*-+/(.= "5( abJ *. (R;*88(4 '*/5 ?+//(&0 +,4504&+;6*3 8%'(& /% 1;,3/*%, '*/5%;/ 8%'(& 1&%9 /5( ?&*4)(= "5*. .0./(9 +3/*-+/(4 /5(4*.3%,,(3/*%, 1%& /5( 7((8'+/(& Z%&*\%, 86+/1%&9D ?;/ */ '+. ;,.;33(..1;6 /% .(+6 /5('(66 +,4 4*.3%,,(3/ 4;( /% %/5(& 3*&3;9./+,3(.= "5( @:N 5+. +6.% 6(4 /% 3+.(. %1;,86+,,(4 (9(&)(,30 4*.3%,,(3/*%,. m`(./ O,)*,((&*,) .(&-*3(. C,3= KLLXn=

<1818 P'0@%M,@@N%& 4&*1/B%11 ,%&9+660 K +6(&/ 3*&36(. 4(1*,( /5( O72 +3/*-+/*%,= @ 0(66%' +6(&/ 3*&36(*,36;4(. + 8&%3(4;&( 1%& 4*.3%,/*,;*,) 4&*66*,) +,4 5+,)*,) /5( 4&*66 8*8( %11 *, /5( abJ./+3>= "5( &(4 +6(&/ 3*&36( .*),+6. /5( 3+8/+*, %& 4&*66(& /% E+3/*-+/( /5( &(4 ?;//%,F /%

./+&/ /5( +;/%9+/*3 .(R;(,3(= "5(.( 3*&36(. '*66 ?( 4(1*,(4 ?0 /5( 4&*1/B%11 .8((4 %1 /5(-(..(6D /5( /*9( 4*.3%,,(3/*%, /+>(. +,4 /5( (<3((4+,3( %1 6*9*/. *, /5( &*.(&= "5(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Mi

6*9*/*,) 1+3/%& 3+, ?( /5( /%8 &*.(& +,)6(D ?%//%9 &*.(& +,)6(D /(6(.3%8*3 A%*,/ ./&%>(D'(665(+4 9%9(,/ +,4Q%& 3%,4;3/%& 9%9(,/ mU5+>&+?+&/*D KLLcn=

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lcw ,%,B(<3((4+,3( 6*9*/ ;.(4 1%& 4&*66*,) %8(&+/*%, mU5+>&+?+&/*D KLLcn=

=$JJ :( - P,6 D/,)( Q')1/, = ""$ :( E$^ _?G\ `,//*B D/,)( Q')1/, = H" :( E%#@^ _?G

WJJJ :( - P,6 D/,)( Q')1/, = <@J :( E=^ _?G\ `,//*B D/,)( Q')1/, = %VJ :( E"^ _?G

K- (8,4, ,C03>/,4X (8, ),42/(4 '- =$JJ :( *: B0(,) 0), +*;,)-,6 LS S',/6 *: (8, 1*-621(*) >'>,\ B8,),04 (8, ),42/(4 '- WJJJ :( *: B0(,) 0), +*;,)-,6 LS 4()*5,9*2( *: (8, 4/'> U*'-(#



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Ml

<1< TB,5,.% $'&3&+%&' #+- B,5&' A#'0+& '04&' $#/6#>&

C0N5)& 4,3 c b8$($5- %)&<&;-&) K;6 ?$(&) +K)0;& E0/&) JK#*KN&

"5( ?6%'%;/ 8&(-(,/(&D abJ %& abJB./+3> *. %,( %1 /5( 9%./ *98%&/+,/ /%%6. *, %*64&*66*,)= C/ 3%,.*./. %1 -+&*%;. /08(. %1 ?6%'%;/ 8&(-(,/(&. %, /%8 %1 (+35 %/5(& +,4/5(&(1%&( /5( ,+9( abJB./+3>= "5( ab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



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

KL

'5*35 3+, .(+6 +&%;,4 + 8*8( %& .(+6 /5( (98/0 +&(+= "5( /08(. +,4 ,;9?(&. %1 +,,;6+&.+,4 &+9. %, + abJ 3+, -+&0=

I:GJ ./+,4. 1%& I%'(& :+&*,( G*.(& J+3>+)( +,4 *. /5( ;88(& 8+&/ %1 /5( abJ= Z(&( /5(3%,/&%6 8%4. +&( 6%3+/(4D U5%>( +,4 >*66 6*,(. 3%,,(3/(4D +,4 ;88(& +,4 6%'(& +,,;6+&3+, ?( 6%3+/(4 5(&(= 7;&*,) + 4*.3%,,(3/*%, /5( I:JG *. 4*.3%,,(3/(4 1&%9 /5( abJ +,46(+-(. /5( abJ +6%,( %, /5( .(+?(4 /% 3%,/&%6 /5( '(66= `*/5 +, +,,;6+& 6%3+/(4 *, /5(I:GJD /5( 9;4 3%6;9, 3+, ?( &(/+*,(4 4;&*,) +, (9(&)(,30 4*.3%,,(3/*%,= C/ *. .+*4/5+/ &(/+*,*,) /5( 9;4 3+, )*-( ;,'+,/(4 40,+9*3+6 8&%8(&/*(. %1 /5( &*.(& +,4 */ *.,%&9+660 4*.35+&)(4=

<1<1) TB0+- 4"&#' '#A4

"5( ?6*,4 .5(+& &+9. +&( /'% 504&+;6*3+660 4&*-(, &+9.Q?6+4(. /5+/ 3+, 3;/ /5&%;)5 /5(4&*66 8*8( +,4 .(+6 %11 /5( '(66= "5( ?6*,4 .5(+& &+9. +&( ,%/ 4(.*),(4 1%& 3;//*,) %11 /5(4&*66 8*8( %, /5( /%%6 A%*,/=

C0N5)& 4,1 b80;6 /.&K) )KL/ `12a

<1E ;"& &3&+%4 ,@ %"& '&/,0B7*.3%,,(3/*,) /5( /(,.*%,(4 &*.(& 1&%9 /5( abJ '*66 6(+4 /% + .(&*(. %1 (-(,/.= "5( &*.(&3+, ?( 6%%>(4 +/ +. + /(,.*%,(4 .8&*,) '5(&( /5( +<*+6 ./*11,(.. %1 /5( &*.(& &(8&(.(,/./5( .8&*,) ./*11,(..= "5( (6+./*3 (6%,)+/*%, 3+, ?( ;8 /% L=h9 1%& + &*.(& 6(,)/5 %1 MLLL9(/(&. m]&%,(-*>D KLMKn= "5*. '*66 3&(+/( +, (6+./*3 8;6.( /&+-(6*,) ;8 /5( 6(,)/5 %1 /5(&*.(& '5(, */ *. &(6(+.(4 +/ /5( 6%'(& (,4D ?;/ /5*. ,%/ + 4%9*,+/*,) (11(3/=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

KM

E"5( (6+./*3 (,(&)0 ./%&(4 *, /5( &*.(& 4;( /% /5( %-(& 8;66 +/ /5( I:GJ 3%,,(3/%& *.&(6(+.(4 +,4 /&+-(6. +6%,) /5( 6(,)/5 %1 /5( &*.(& +. +, (6+./*3 8;6.(= "5*. *. ;.;+660 ,%/ +

4%9*,+/*,) (11(3/F m]&0/%0& (/ +6= KLMMn=

"5( (,(&)0 ./%&(4 *, /5( &*.(& +,4 /5( /(,.*%, 1&%9 /5( /(,.*%,(&. '*66 +33(6(&+/( /5(&*.(& ;8'+&4.= "5( 9+),*/;4( %1 /5( +33(6(&+/*%, '*66 4(8(,4 %, /5( /%/+6 /(,.*%, *, /5(.0./(9 +,4 /5( /(,.*%, &(6(+.(4 +/ /5( 3%,,(3/(& S,%&9+660 XLL f kLL>!V=

7;( /% /5( 8&(..;&( 4*11(&(,3( %1 /5( .(+ ?(4 +,4 /5( +3/;+6 4&*66*,) 4(8/5D /5( 9;43%6;9, '*66 4*.35+&)( +,4 1%66%'*,) '( 5+-( + 6%.. %11 9+.. *, /5( &*.(&D +,4 + 1&*3/*%,1%&3( '%&>*,) %88%.*/( %1 /5( 9;4 4*.35+&)(=

"% .6%' 4%', /5( &*.(& /5( -(..(6 ,((4. /% ?( (R;*88(4 '*/5 +,/* &(3%*6 .0./(9= "5*..0./(9 *. 4(.*),(4 /% +?.%&? /5( *98+3/ 1&%9 /5( .;44(, 1%&3( *9?+6+,3( *, /5( &*.(&="5( 1%66%'*,) 1*);&( .5%'. + 4(/+*6(4 .(R;(,3( %1 (-(,/. +,4 '+. + 8+&/ %1 7(3+% j*,t./&*+6 6(3/;&( %, /5( .;?A(3/=

C0N5)& 4,4 c "&e5&;#& $' &<&;-/ `I0;_ 1234a



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

KK

<1H P0@@&'&+% #4$&/%4 +&&-&- 0+ # '&/,0B #+#BI404

<1H1) *A$#/% 7&%5&&+ T=2 #+- U9C2`*/5 6+&)( 5(+-( 9%/*%,. %, /5( -(..(6 +,4 ?+4 4*.3%,,(3/*%, /*9*,)D /5( &(.;6/ 3+, ?(/5+/ /5( 86+/1%&9 *. 9%-*,) 4%', '*/5 + )&(+/ -(6%3*/0 '5*6( /5( &*.(& &(3%*6.= C1 /5(4%', 9%-(9(,/ %1 /5( 86+/1%&9 )(/. 6+&)(& /5+, /5( &(/&+3/*%, -(6%3*/0 %1 /5( &*.(&D +3%66*.*%, ?(/'((, /5( abJ +,4 I:GJ 3+, %33;& +,4 3+;.( 4+9+)( /% /5( '(66 +,4(R;*89(,/=

"5( &(+.%, 1%& 4*.3%,,(3/*,) *. 9%./ %1/(, /5( 4&*66*,) ;,*/. *,+?*6*/0 /% >((8 *,.*4( %1 +3(&/+*, &+4*;. %1 /5( '(66= "5*. 9(+,. /5+/ S9%./ 6*>(60V /5( 4&*66*,) ;,*/ '*66 ,%/ ?(8%.*/*%,(4 +?%-( /5( '(66 4;&*,) /5( 4*.3%,,(3/*%,= `5(, /5( 9+&*,( &*.(& /5(, *.&(6(+.(4 */ '*66 ?( + 8(,4;6;9 (11(3/= "5( I:GJ '*66 /5(, ?( 36(+&(4 5%&*\%,/+660 +'+01&%9 /5( abJ= 7;( /% );(../*9+/(4 6+&)( 4+98*,) *, + .0./(9 6*>( /5*.D /5( 8(,4;6;9'*66 ,%/ 3%9( ?+3> +,4 5*/ /5( abJ=

<1H18 !,A$'&440,+ #+- 7./6B0+>`5(, /5( &*.(& &(3%*6. ;8'+&4. */ 5+. /% ?( .6%'(4 4%', /% ,%/ 3%9( 3&+.5*,) *,/% /5(4&*66 4(3>= "5( .6%'*,) 4%', 5+88(,. /5&%;)5 +, +,/* &(3%*6 .0./(9 +,4 6+&)( 4+98*,)1%&3(.= N*&./ +66 /5( 6(,)/5 %1 /5( &*.(& *. +33(6(&+/(4 ;8'+&4.D /5(, */ '*66 ?( .6%'(44%', 9+*,60 4;( /% 1%&3( -+&*+/*%, +,4 4+98*,) %1 /5( /(,.*%,(& .0./(9= "5*. (<8%.(./5( ;88(& 8+&/ %1 /5( &*.(& /% 8%..*?6( 3%98&(..*%, 1%&3(.= "5( /(,.*%, *, /5*. +&(+.5%;64 ?( 6+&)( ?(3+;.( %1 /5( 5+,)*,) '(*)5/ %1 /5( &*.(& ?(6%'= a;/ ?(*,) 4(3(6(&+/(41&%9 /5( /(,.*%,(&. +/ /5( /%8 +,4 5+-*,) /5( 9+.. %1 /5( 6%'(& 8+&/ %1 /5( &*.(& 3%9*,)1&%9 /5( ?%//%9 3+, 3+;.( 3%98&(..*%, *1 /5( +,/* &(3%*6 .0./(9 *. ,%/ '(66 /;,(4=

"5( O;6(& 6%+4 1%& ?;3>6*,) %1 + ?(+9 S1&(( /% &%/+/( +/ ;88(& +,4 6%'(& (,4VH

! ! ! !

! !"

! ! OR= X=M

`5(&( OC *. /5( ?(,4*,) ./*11,(.. +,4 I *. /5( 6(,)/5 %1 ?(+9=

`*/5 /5*. (R;+/*%, */ ?(3%9(. +88+&(,/ /5+/ /5( 6%+4 &(R;*&(4 /% ?;3>6( + 6%,)3%,,(3/*%, %1 &*.(& A%*,/. *. -(&0 .9+66= "5( ?(,4*,) ./*11,(.. *. K=hcsML i 1%& /5( &*.(&3&%.. .(3/*%,= "5( +3/;+6 ?;3>6*,) 6%+4 9*)5/ ?( .9+66(&p /5( ;88(& (,4 5+. &%/+/*%,+6./*11,(..D '5*6( /5( 6%'(& (,4 *. .%9('5+/ 1&(( /% 9%-(= 2%9( (<+986( %1 ?;3>6*,) 1%&3('*/5%;/ +33%;,/*,) 1%& /5( 16+,)(.H

•

M &*.(& A%*,/D KK9D ?;3>6*,) 6%+4H hllc>!• c &*.(& A%*,/.D MML9D ?;3>6*,) 6%+4H Mll>!



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

KX

• ML &*.(& A%*,/.D KKL9D ?;3>6*,) 6%+4H cL>!

"5*. .5%'. /5( /(,4(,30 /5+/ *1 + 6+&)( 6(,)/5 %1 /5( &*.(& )(/. 3%98&(..*%, 1%&3(.D */ *.6*>(60 /% ?;3>6(=

<1H1< V#+>M,@@ -I+#A0/4"5( /(&9 5+,)B%11 &(1(&. /% +,0 /*9( /5( 9+&*,( &*.(& *. 5+,)*,) 1&((60 1&%9 /5( -(..(6D*=(= ,%/ 3%,,(3/(4 /% /5( .(+?(4= "5( 4*11(&(,/ 3+.(. +&( %1/(, /(&9(4E&;,,*,)Q&(/&*(-+6F +,4 E./%&9 5+,)B%11=F C, /5( &;,,*,) 3+.( /5( 8;&8%.( *. /% 6%'(&4%', +,4 3%,,(3/ /5( abJ /% /5( '(665(+4D &(/&*(-+6 '5(, 4*.3%,,(3/*,) /5( abJ 1&%9/5( '(66 +,4 &(/&*(-*,) /5( 9+&*,( &*.(&= "5( 5+,) %11 9%4( 3%,3(&,*,) /5( &(3%*6+,+60.*. *. /5( ./%&9 5+,)B%11D '5(&( /5( abJ *. 6(1/ %, /5( '(665(+4 +,4 /5( I:GJ5+,). *, /5( &*.(&= "5*. 3+, (*/5(& ?( + 5+&4 %& .%1/ 5+,)B%11D /5( 4*11(&(,3( *. *1 /5( &*.(&*. .;.8(,4(4 1&%9 /5( G%/+&0 [(660 a;.5*,) SG[a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mU5+>&+?+&/*D KLLcn= "5*. *. 1;&/5(& 4*.3;..(4 *,

35+8/(& k=

<1N Q+%0 '&/,0B 4I4%&AC1 /5( &*.(& *. 1&(( /% &(3%*6 '*/5%;/ +,0 1%&9 %1 4+98*,) %& .6%'*,) 4%', /5( &*.(& *.6*>(60 /% 3%9( 3&+.5*,) *,/% /5( 4&*66 4(3> +,4 3+, 4+9+)( -+6;+?6( (R;*89(,/="5(&(1%&( +,/* &(3%*6 .0./(9. 5+-( ?((, 4(-(6%8(4 +,4 +&( 3&;3*+6 /% .+1(604*.3%,,(3/*%, /5( 5*)5 /(,.*%,(4 &*.(&= b,( (<+986( .0./(9D /5( O72 *,36;4(. +,+;/%9+/*3 3%99+,4 /% 36%.( +*& 8&(..;&( -(..(6. S!JT.V ,%&9+660 >(8/ %8(, /%9+*,/+*, .9+66 /(,.*%, -+&*+/*%,. 4;&*,) %8(&+/*%,.= "5*. 3+;.(. + .;44(, *,3&(+.( *,/5( .0./(9t. -(&/*3+6 ./*11,(.. mU5+>&+?+&/*D KLLcn=

<1N1) Q+%0 '&/,0B @,' PQ; /IB0+-&'4@ ?*) +4-+,/+)( '*/5 4*&(3/ +3/*,) /(,.*%,(&. *. /5( +?*6*/0 /% 3%,/&%6 /5( ;8'+&49%-(9(,/ 1%& /5( &*.(&= "5( 6%.. %1 /(,.*%, *, /5( &*.(& '5(, /5( I:GJ *. 4*.3%,,(3/(41&%9 /5( abJ '*66 3+;.( /5( 306*,4(& /% &(/&+3/= @. /5( 306*,4(&. +&( 4(.*),(4D &(/&+3/*%,9(+,. /5+/ %*6 '*66 16%' 1&%9 /5( +33;9;6+/%&. +,4 *,/% /5( &*.(&= "5( .5;/ %11 -+6-(.?(/'((, /5( 306*,4(&. +,4 8&(..;&( +33;9;6+/%&. 3%,/&%6 /5*. 16%'D /5( &(/&+3/*%, 3+, ?(

3%,/&%66(4 ?0 )&+4;+660 36%.*,) /5*. -+6-( m2/(,D KLMKn=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Kc

!"#$%&' E C&/,0B #+#BI404 #+- A,-&BB0+> 0+ L*9Q C*FUWX

"% 3%-(& /5( 4*11(&(,/ 3+.(. 1%& +,+60.*.D /5&(( 4*11(&(,/ GCNIOP 9%4(6. '(&( 4(-(6%8(4=@ 9%4(6 '*/5 4*&(3/ +3/*,) /(,.*%,(&. %, cLL9 '+/(& 4(8/5D %,( '*&( /(,.*%,(& .0./(91%& cLL 9(/(& '+/(& 4(8/5D +,4 %,( ;6/&+ 4((8 '+/(& '*/5 4*&(3/ +3/*,) /(,.*%,(& %,McLL 9(/(& '+/(& 4(8/5= 7%*,) + &(3%*6 +,+60.*. *, GCNIOP &(R;*&(. .%9( 8&( 8&%3(..*,)+,4 *. 8&(.(,/(4 5(&(=

E1) Y&+&'#B A,-&BB0+> 0+ L*9Q C*FUWXC, GCNIOP %,( 3+, 35%.( /% 9%4(6 %,( %1 /5( ./+,4+&4 .0./(9. S2@ 2a 2U 27V %& +,+&?*/&+&0 .0./(9= "5( ./+,4+&4 .0./(9. 3%-(&. .(+?(4 /% -(..(6D .(+?(4 /% -(..(6 '*/5/+,)(,/*+6 /%;35 4%',D 1&(( ;88(& (,4 +,4 1&(( 6%'(& (,4= "5( +&?*/&+&0 .0./(9 *. ;.(41%& 9%4(66*,) %1 /5( 9+&*,( &*.(& ?(3+;.( */ )*-(. 9%&( 16(<*?*6*/0 *, /5( 9%4(66*,)= "5(9%4(6 */.(61 *. 9+4( ;8 %1 .;8(&,%4(.D 6*,(.D 6*,( /08(. +,4 3&%.. .(3/*%,.= U%%&4*,+/(.+,4 ?%;,4+&0 3%,4*/*%,. +&( )*-(, /% /5( .;8(&,%4(.= I*,(. 8&%-*4(. /5( /%8%6%)0

4(1*,*/*%, *, /5( 9%4(6 *=(= 3%,,(3/*,) /5( .;8(&,%4(. /%)(/5(&= I*,( /08(. 8&%-*4(6(,)/5D ,;9?(& %1 (6(9(,/. +,4 ;.(4 3&%.. .(3/*%, 1%& (+35 6*,(= U&%.. .(3/*%,. 8&%-*4(+66 4+/+ 1%& ./*11,(..D 9+..D 4+98*,) +,4 504&%40,+9*3 3%(11*3*(,/.=

E1)1) U9C2 /,++&/%,'@ /*9( )*-(, ?%;,4+&0 35+,)( *, /5( 40,+9*3 3+63;6+/*%, .*9;6+/(. /5( 4*.3%,,(3/*%,?(/'((, /5( abJ +,4 I:GJ= !%&9+660 X ,%4(. '*66 9%4(6 /5( abJ +,4 I:GJD '5(&( /5(6%'(& ,%4( %1 /5( abJ *. 1*<(4D %,( ?(/'((, /5(9 +,4 %,( +/ /5( /%8 %1 /5( I:GJ= "% ?(+?6( /% 4*.3%,,(3/ %,( 3+,,%/ E1&((F + ,%4( /5+/ *. +6&(+40 1&((= N*<*,) /5( 6%'(& ,%4( %1/5( I:GJ '*66 .%6-( /5( 8&%?6(9D ?;/ /5( 1%&3(. *, /5( abJ '*66 ?( \(&%= "5( .0./(9 *./5(, 9%4(66(4 '*/5 + 4%;?6( .;8(&,%4( ?(/'((, /5( abJ +,4 I:GJ '*/5 + 9+./(& f.6+-( &(6+/*%,= 2(//*,) /5( .6+-( ,%4( /% 1&(( +/ /5( '+,/(4 /*9( +3/*-+/(. /5(4*.3%,,(3/*%,=

E1)18 !,++&/%0+> %&+40,+&'4 %, %"& '04&'"5( 6%'(& (,4 %1 /5( 8*./%, &%4. +&( 3%,,(3/(4 /% /5( /(,.*%,(& &*,) /5+/ )%(. +&%;,4+,4 .(3;&(. /5( &*.(&= "5( /(,.*%,(& &*,) *, GCNIOP *. %,60 9%4(66(4 +. + ,%4+6 ?%40'*/5 9+..= "5( /(,.*%,(&. +&( 3%,,(3/(4 /% /5( &*.(& '*/5 9+./(& .6+-( &(6+/*%,.5*8= "5*./&+,.1(&. +66 /5( 1%&3(.D '*/5%;/ + 850.*3+6 3%,,(3/*%,= @ E?+66 A%*,/F +/ (+35 (,4 %1 /5(

/(,.*%,(& &%4 +66%'. 1%& &%/+/*%,.= "5( /(,.*%,(&. +&( 9%4(66(4 -(&/*3+660D /5( ;88(& (,49%-(. *,/% 86+3( *, /5( ./+/*3 3%,1*);&+/*%,=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Kk

C0N5)& W,3 c +$6&88&6 )0/&) -&;/0$;&) #$;;&#-0$;

E1)1< FB&G D,0+%4#88(& +,4 I%'(& 16(< A%*,/. +&( 3&;3*+6 /% + 9%4(6 '*/5 3;&&(,/ +,4 5%&*\%,/+6 %11.(/=2C:@ GCNIOP 8&%-*4(. + ?;*6/ *, 9%4(6 1%& 16(< A%*,/. '5(&( 1&((D 6*,(+& +,4 ,%,B6*,(+&./*11,(.. 3+, (<8&(..(4= N6(< A%*,/. 3+, +6.% ?( 9%4(66(4 ?0 + ?(+9 (6(9(,/ '*/5 /5(

3%&&(3/ ?(,4*,) ./*11,(.. +,4 /5*. '+. ;.(4 1%& /5( cLL 9 9%4(6= a;*6/ *,, 16(< A%*,/.'(&( ;.(4 1%& /5( McLL 9 9%4(6= "5( ./*11,(.. %1 /5( A%*,/. *. 8&(.(,/(4 *, /+?6( K=M=

E1)1E P'0@%M,@@"% .*9;6+/( 4&*1/B%11 /5( .;88%&/ -(..(6 '+. )*-(, + 5%&*\%,/+6 %11.(/ *, /5( ./+/*33+63;6+/*%,= "5( -(..(6 *. ./+/*%,+&0 *, /5( 40,+9*3+6 3+63;6+/*%,= @ ?(//(& 9%4(6 '%;64?( /% 3+63;6+/( /5( 4&*1/B%11 -(6%3*/0 %1 /5( -(..(6 +,4 5+-( */ *,36;4(4 *, /5( 40,+9*3+63+63;6+/*%,= "5*. %8/*%, *. ,%/ *986(9(,/(4 *, 2C:@ GCNIOPD ?;/ 3%;64 ?( 4%,( *, ?+/359%4( %1 GCNIOP=

E1)1H ;&B&4/,$0/ D,0+%"5( /(6(.3%8*3 A%*,/ *. 9%4(66(4 ?0 )*-*,) /5( ?(+9 36%.( /% \(&% +<*+6 ./*11,(..= C/ *. /5(,1&(( /% (6%,)+/( +,4 &(/&+3/= "5*. 9%4(6 5+. /5( '(+>,(.. %1 ,%/ 5+-*,) +, (6%,)+/*%,.6*9*/ S./&%>( %;/ %1 /5( A%*,/V= a;/ 3+, ?( 3%,/&%66(4 ?0 /5( /(,.*%,(&t. ./*11,(.. -+&*+/*%,=

E18 9.- -04/"#'>&"5( 9;4 3+, ?( &(/+*,(4 *, /5( &*.(& ?0 36%.*,) /5( +,,;6+& *, /5( I:GJ= "5*. *. ,%/'+,/(4 4;( /% /5( 40,+9*3+6 &(.8%,.( 8&%8(&/*(. 1%& /5( 9+&*,( &*.(&= `*/5 /5( 9;4&(/+*,(4 /5( 8(&*%4 1%& /5( 1;,4+9(,/+6 ,+/;&+6 1&(R;(,30 35+,)(. '*/5 *,3&(+.*,) 9;4

'(*)5/ +,4 (,/(&. *,/% /5( 8(&*%4. 1%& /5( '+-(.= C/ 5+. ?((, .5%', /5+/ /5( .(+ ./+/(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

KY

&(R;*&(4 1%& ?;3>6*,) %1 /5( &*.(& *. )&(+/60 &(4;3(4 '5(, &(/+*,*,) /5( 9;4 3%6;9,mj%;,) (/ +6= MllKn=

"5( 4&*66*,) 9;4 *. /5(, 4*.35+&)(4 +1/(& /5( 4*.3%,,(3/*%,= "5( 8&(..;&( 4*11(&(,3( +//5( .(+?(4 +,4 *,.*4( /5( 9+&*,( &*.(& 3+, ?( -(&0 6+&)( 1%& 4((8 '+/(&= O<+986( '*/5 +4(8/5 %1 cLL 9(/(& +,4 9;4 '*/5 4(,.*/0 MkLL >)Q9 X )*-(. + 504&%./+/*3 8&(..;&(4*11(&(,3( %1

! !"# ! ! !"#$#%"& ! ! ! ! !"# ! ! !"#$#%"&

! !"!#$%& !" ! !" !! !"# OR= h=M

"5*. '*66 3+;.( + &+8*4 %;/16%' %1 /5( 9;4= N&*3/*%, '*66 .6%' /5( 16%' 4%', +,4 +441%&3(. /% /5( &*.(&= "5( 4*.35+&)(4 9;4 ,((4. /% ?( &(86+3(. '*/5 .(+'+/(& '5*35 '*66

&(4;3( /5( '(*)5/ %1 /5( &*.(& +. */ *. ?(*,) 4*.35+&)(4= "5( 1&*3/*%,+6 1%&3( 1&%9 /5( 9;44*.35+&)( +,4 '+/(& &(1*66 *. + .6%' +3/*,) 1%&3( %-(& 6%,)(& /*9( 3%98+&(4 /% 1%&3(;,?+6+,3( /5+/ %33;&. +/ /5( /(,.*%,(&.=

@,%/5(& (11(3/ 1&%9 /5( 9;4 4*.35+&)( *. /5( *,-(&.( '+/(& 5+99(& (11(3/= "5( '+/(&5+99(& (11(3/ *. '5(, 0%; &+8*460 36%.( + -+6-(D +,4 /5( 9%9(,/;9 %1 /5( 16;*4 9%/*%,*. ./%88(4 *, + .5%&/ 8(&*%4 %1 /*9( ?0 3%98&(..*?*6*/0 *, /5( 16;*4 +,4 (6+./*34(1%&9+/*%, %1 /5( 8*8(= `5(, /5( (,4 %11 /5( 9+&*,( &*.(& *. (<8%.(4 /% /5( 6%'(&.;&&%;,4*,) 8&(..;&(D + 8&(..;&( *98;6.( '*66 /&+-(6 /5&%;)5 /5( 9;4D +,4 3+, 6(+4 /%-+8%&*.+/*%, 8&(..;&( *,.*4( /5( 9+&*,( &*.(& '5(, .(+'+/(& 3+,,%/ ?( 1*66(4 1+./

(,%;)5D /5*. 3+, 6(+4 /% 3%66+8.( %1 /5( &*.(&. m:*66(& (/ +6= Mllin= "% +-%*4 3%66+8.( %1&*.(&D .(-(&+6 &(1*66 -+6-(. 3+, ?( ,((4(4 +,4 +&( 86+3(4 +6%,) /5( 6(,)/5 %1 /5( &*.(&= N%&6+&)( '+/(& 4(8/5. /5(.( +&( 3&*/*3+6 /% +-%*4 &*.(& 3%66+8.(= "5*. (11(3/ *. ,%/ *,36;4(4 *,/5*. /5(.*.D +,4 */t. +..;9(4 /5+/ /5( .(+'+/(& *. &(1*66(4 +/ /5( /%8 8%.*/*%,=

:;4 4*.35+&)*,) 1&%9 + &*.(& /5+/ *. +33(6(&+/*,) ;8'+&4. *. + -(&0 3%986(< 16;*440,+9*3+6 8&%?6(9 +,4 /5( 3+63;6+/*%,. 5(&( +&( .*986*1*3+/*%,. %,60 /&0*,) /% *,36;4(/5( 9+A%& (11(3/. .;35 +. 1&*3/*%, +,4 9+.. 6%..= "5*. '*66 ?( 4*.3;..(4 9%&( *, 35+8/(& k=

E181) 9,-&BB0+> ,@ A#44 B,44 #+- @'0/%0,+#B @,'/&4C, /5( &(3%*6 +,+60.*. /5( /'% 9+A%& (11(3/. ,((4. /% ?( +33%;,/(4 1%&= :+.. 6%.. +,41&*3/*%, 1%&3(.= m]&0/%0& (/ +6= KLMMn 8&%8%.(4 /5+/ /5( .6;) 9%4(6 '*/5 3%,./+,/ -(6%3*/0)*-(. /5( ?(./ &(8&%4;3/*%, %1 /5( 9+.. 6%..= "5( .6;) *. 9%4(66(4 '*/5 /5( .+9( 6(,)/5+. /5( &*.(&D +,4 5+. + 9+.. (<8&(..(4 ?0 /5( 4(,.*/0 %1 .(+'+/(& +,4 *,/(&,+6 -%6;9( %1/5( &*.(&= "5( .6;) 9%4(6 )*-(. ,% 3%,/&*?;/*%, /% 1%&3(.= N&*3/*%, 1%&3(. +&( +44(4 +.;.(& .8(3*1*(4 40,+9*3+6 ,%4+6 1%&3(.= C, GCNIOP 40,+9*3+6 1%&3(. +&( (<8&(..(4 (*/5(&+. + 3%,./+,/ 1%&3(D 6*,(+& *,3&(+.*,) 1%&3( %& 3%,./+,/ 1%&3( '*/5 /*9( %, +,4 /*9( %11="5*. )*-(. + 6%/ %1 8%..*?*6*/*(. *, 9%4(66*,) 1%&3(.=

E1E18 !#B/.B#%0,+ ,@ A.- -04/"#'>& 3&B,/0%I #+- @'0/%0,+ @,'/&41



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Ki

:@"I@a '+. ;.(4 /% 8(&1%&9 + /*9( '*.( &*)*4 ?%40 +,+60.*. %1 /5( 9;4 3%6;9, 1%& /5(9;4 4*.35+&)(D m@88(,4*<n= C/ *. ?+.(4 %, 40,+9*3+6 (R;*6*?&*;9 ?(/'((, 504&%./+/*3

8&(..;&( +/ /5( 6%'(& (,4 %1 /5( &*.(&D 1&*3/*%, 1%&3(. +,4 /5( '(*)5/ %1 /5( 9;4= C/ *.+..;9(4 /5+/ /5( '+/(& &(1*66 &+/( +/ /5( /%8 9+/35(. /5( 9;4 4*.35+&)(= "5( 1&*3/*%,1%&3(. 1&%9 /5( .(+'+/(& +&( *,36;4(4 ;,/*6 /5( +66 /5( 9;4 *. 4*.35+&)(4=

"5( 504&%./+/*3 8&(..;&( 4*11(&(,3( +/ /5( 6%'(& (,4 %1 /5( &*.(& '*66 -+&0 '*/5 /5(6(,)/5 %1 /5( 9;4 3%6;9, +,4 4(,.*/0 %1 9;4= "5( '(*)5/ '*66 4(3&(+.( +. /5( 9;4 *.?(*,) &(86+3(4 ?0 .(+'+/(&= "5( 1&*3/*%, 1%&3(. +&( 8&%8%&/*%,+6 /% /5( -(6%3*/0 .R;+&(4="5( /5(%&0 1%& 3+63;6+/*,) 1&*3/*%, 1%&3(. *. /+>(, 1&%9 m`5*/(D KLLin=

"5( 8&(..;&( 4&%8 %& 5(+4 6%.. *. 1%;,4 1&%9 /5( 7+&30B`(*.?+35 1%&9;6+H

!" ! ! ! ! !"! !

OR= h=K

`5(&( ! *. /5( 4(,.*/0 %1 /5( 16;*4D # /5( -(6%3*/0D 1 /5( 1&*3/*%,+6 3%(11*3*(,/D I /5( 6(,)/5D+,4 7 /5( *,/(&,+6 4*+9(/(& %1 /5( 8*8(= "5( 1&*3/*%,+6 3%(11*3*(,/ 3+, ?( 1%;,4 1&%9 /5(:%%40 35+&/D ?;/ .*,3( /5( 16%' -(6%3*/0 *. 35+,)*,)D /5( Z++6+,4 1%&9;6+ '+. ;.(4*,./(+4=

!

!!

!

! ! ! !! !"# ! !!! ! !

!

!

!

! !!

! !!!

OR= h=X

`5(&(!

! *. /5( &(6+/*-( &%;)5,(.. +,4 G( *. /5( G(0,%64. ,;9?(& 1%& /5( 16;*4=

"5(.( (R;+/*%,. %,60 3+63;6+/( /5( 8&(..;&( 4&%8 4;( /% /5( 1&*3/*%,+6 1%&3(. %, /5( 9;4=@. *,8;/ 1%& GCNIOP /5( 1&*3/*%, 1%&3(. '%&>*,) %, /5( &*.(& +&( ,((4(4= Z(+4 6%.. 3+, ?('&*//(, +.H

! ! !

! ! ! !

!"# ! !"

!" OR= h=h

`5(&( ! ! *. /5( 5(+4 6%.. m9nD! ! *. /5( '+66 .5(+& ./&(.. m!Q9 Kn= a0 &(+&&+,)*,) /5( /'%

6+./ /(&9.D '( 3+, (<8&(.. /5( .5(+& ./&(.. '*/5 /5( 8&(..;&( 4&%8=

! ! ! !"

!

! ! OR= h=c

"5( .5(+& ./&(.. '%&>. +/ /5( *,.*4( .;&1+3( +&(+ %1 + 8*8(D 9;6/*860*,) ?0 !"# +. /5(.;&1+3( )*-(.H

! !"#$%#&' ! !"

!

! !! !"# ! !"

! ! !

! OR= h=k

`5*35 &(6+/(. /5( 8&(..;&( 4&%8 *, /5( &*.(& 4;( /% 1&*3/*%,D +,4 /5( &(.;6/*,) 1%&3('%&>*,) %, /5( &*.(&= "5( 1%66%'*,) 1*);&(. .5%'. (<+986( &(.;6/. 1%& /5( 4*.35+&)(p'+/(& 4(8/5 *. cLL9 +,4 4(,.*/0 %1 9;4 MkLL >)Q9 X=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Kl

C0N5)& W,1 +56 60/#.K)N& <&8$#0-M_ -.& LKf0L5L <&8$#0-M 0/ 3ZLg/ K'-&) T /&#$;6/

C0N5)& W,4 C)0#-0$; '$)#&/ K#-0;N $; -.& )0/&)_ 3Y22 BgL K- -.& L$/-



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

XL

N&%9 /5( 1*);&( %,( 3+, .(( /5+/ /5( 9;4 3%6;9, ;.(. +&%;,4 k .(3%,4. /% +33(6(&+/( /%/5( 9+<*9;9 -(6%3*/0 %1 Mi 9Q.= @1/(& /5( /%8D /5( 1&*3/*%, 1%&3(. +&( )&(+/(& /5+, /5(

&(.;6/*,) 1%&3( 1&%9 9;4 '(*)5/ +,4 504&%./+/*3 8&(..;&(= "5*. '*66 .6%' /5( 16%' 4%',=@/ k .(3%,4. /5( &*.(& 5+. +6&(+40 &(3%*6(4 4;( /% /5( ;,?+6+,3(4 1%&3( 1&%9 /5(/(,.*%,(&.=

@ :@"I@a .3&*8/ m@88(,4*<n /+>(. /5( 1&*3/*%, 1%&3( +,4 '&*/(. /% + /(</ 3%4( /5+/ *.3%8*(4 *,/% /5( .*9+_40,9%4=*,8 1*6(= GCNIOP 5+. *,8;/ 1%& /5( ;.(& .8(3*1*(4 40,+9*3+61%&3(.D +,4 3+, ?( .(/ /% /5( 6%3+6 %& )6%?+6 3%%&4*,+/( .0./(9= #.*,) /5( 6%3+6 .0./(9+44. /5( 1%&3(. /% /5( (6(9(,/.D /5( )6%?+6 .+-(. /5( 1%&3(. /% /5( ,%4(. mGCNIOP ;.(&9+,;+6n= "5( )6%?+6 .0./(9 *. ;.(4 *, /5*. +,+60.*.D +,4 /5( 1%&3( *. 4*-*4(4 ;8 /% ,%4(.'*/5 .5%&/ *,/(&-+6 /5&%;)5%;/ /5( 6(,)/5 %1 /5( &*.(&= "% 4(.3&*?( /5( 1%&3( -+&*+/*%, *, +?(./ 8%..*?6( '+0 X 4*11(&(,/ 1%&3(. +&( +886*(4= b,( 6*,(+& *,3&(+.*,)D %,( 3%,./+,/ +,4%,( 6*,(+& 4(3&(+.*,) 1%&3(=

E1< 9,-&BB0+> ,@ %&+40,+&'4

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



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

XM

C0N5)& W,W c D0''&)&;- -&;/0$;&) L$6&8/

E1<1) ;&+40,+ 3#'0#%0,+

"%8 /(,.*%, ,((4. /% ?( /;,(4 /% )*-( +, (11(3/*-( /(,.*%, ?(/'((, /5( abJ +,4 I:GJ %1XLBkL /%,. /% .+1(60 &(9%-( /5( I:GJ= "5( /%8 /(,.*%, ,((4(4 1&%9 /5( /(,.*%,(&. '*66/5(, 4(8(,4 %, /5( &*.(& 3%,1*);&+/*%, +,4 ;.+)( %1 ?;%0+,30 (6(9(,/.= "5( ./+/*3 /%8/(,.*%, +886*(4 *. ?+.(4 %, /5( /(,.*%,(& &%4 *, 9*4 8%.*/*%,D *=(= 5+61'+0 *,.*4( /5(306*,4(&= GCNIOP ,((4. *,8;/ 1%& +<*+6 1%&3( /% &(6+/*-( (6%,)+/*%, mBn 1%& /5( ?(+9(6(9(,/ +3/*,) +. /(,.*%,(& &%4= "5( /(,.*%, -+&*+/*%, +. + 1;,3/*%, %1 ./&%>( 6(,)/5 3+,?( 3+63;6+/(4 '5(, /5( *,/(&,+6 +&(+D +,4 8&(..;&( ,((4(4 /% )*-( /5( /(,.*%, *, 9*48%.*/*%, *. >,%'= "5( ;8 +,4 4%', 9%-(9(,/ %1 /5( /(,.*%,(& &%4 '*66 )*-( + 35+,)( %1-%6;9( *, /5( %*6Q,*/&%)(, +33;9;6+/%& +,4 ,*/&%)(, 8&(..;&( -(..(6.= "5*. 35+,)( %1

-%6;9( *. &()+&4(4 +, +4*+?+/*3 8&%3(.. *=(= '*/5%;/ 35+,)( %1 5(+/ ?(/'((, /5( .0./(9+,4 */. (,-*&%,9(,/= "5( 1%66%'*,) (R;+/*%, )*-(. /5( &(6+/*%,.5*8 ?(/'((, /5(8&(..;&( +,4 -%6;9( %1 .0./(9= "5( 8&(..;&( %, /5( 6%'B8&(..;&( .*4( %1 306*,4(& *.,()6(3/(4 *, /5*. 3+63;6+/*%,D 5%'(-(& /5( (11(3/*-( 8&(..;&( %, /5( 8*./%, *, /5( 306*,4(&'%;64 ?( + 1(' ?+& .9+66(&=

! ! ! ! ! !"#$%&#% OR= h=Y

`5(&( J *. /5( 8&(..;&( *, /5( .0./(9D T /5( -%6;9(D ! *. /5( +4*+?+/*3 )+. 3%,./+,/D'5*35 *. M=hLh 1%& !K +/ Mc 4()&((. m`5*/(D KLLin=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

XK

!!"#

!

! !"!#!$% !!"!#!$%!

!!"#

! OR= h=i

@, (<3(6 .5((/ '+. ;.(4 /% 3+63;6+/( /5( /(,.*%, -+&*+/*%, 1%& 4*11(&(,/ !JT *,*/*+68&(..;&( .(//*,).=

C,/(&,+6 4*+9(/(& 306*,4(& L=ckL97*+9(/(& 8*./%, &%4 L=KXL9

C,/(&,+6 +&(+ S8&(..;&( +&(+V L=KLc 9K T%6;9( 35+,)( M9 ./&%>( L=KLc9 X T%6;9( !JTt. v 5+61 +33;9;6+/%& -%6;9( lvh q MX9 X @KQ8& W,3 c 9&$L&-)M '$) %)&//5)& #.K;N& #K8#58K-0$;

C0N5)& W,V c @&;/0$; <K)0K-0$; '$) 1 K;6 V L /-)$*& 8&;N-. K/ '5;#-0$; $' 0;0-0K8 %)&//5)& /&--0;N

L

cL

MLL

McL

KLL

KcL

XLL

XcL

hML SKLV iKL ShLV MKXL SkLV MkhL SiLV KLcL SMLLV KhkL SMKLV

@ & ; /

0 $ ; < K )

0 K - 0 $ ;

` * B a

@&;/0$; /&--0;N `*Ba OQK)P

@&;/0$; <K)0K-0$; '$) /-)$*& 8&;N-./

vK 9(/(&./&%>(

BK 9(/(&./&%>(

vc 9(/(&./&%>(

Bc 9(/(&./&%>(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

XX

C0N5)& W,T @&;/0$; <K)0K-0$; '$) 42 QK) -&;/0$; /&--0;N K/ '5;#-0$; $' &8$;NK-0$;

"5( 8&(..;&( 4&%8 %& /(,.*%, -+&*+/*%, 3+63;6+/(4 *,36;4(. %,60 /5( 8&(..;&( 35+,)( 4;(

/% -%6;9( 35+,)( +. /5( 8*./%, )%(. *, +,4 %;/= @, +44*/*%,+6 8&(..;&( 4&%8 '*66 3%9(1&%9 /5( 1&*3/*%, 1&%9 /5( 16%' *, /5( 8*8(.= "5*. 8&(..;&( 4&%8 *. 4(.3&*?(4 ?0 /5(7+&30B`(*.?+35 1%&9;6+=

!" ! ! ! ! !"! !

OR= h=l

`5(&( ! *. /5( 4(,.*/0 %1 /5( 504&+;6*3 16;*4D # /5( 16;*4 16%' ! *. /5( 4*9(,.*%,6(..1&*3/*%, 1+3/%&D I *. /5( 6(,)/5 %1 8*8*,) +,4 7 *. /5( 4*+9(/(& *, /5( 8*8(=

"5( 1&*3/*%,+6 3%(11*3*(,/ 3+, ?( 1%;,4 1&%9 + 9%%40 4*+)&+9 %,3( /5( 16;*4 16%' +,4

G(0,%64. ,;9?(& +&( >,%',= "5( 6(,)/5 %1 /5( 8*8*,) *. .0./(9 4(8(,4+,/ ?;/ 3+, ?(+..;9(4 /% ?( +&%;,4 KLBXL 9(/(&.= "5( 16;*4 16%' '*66 ?( 4(8(,4*,) %, /5( ./&%>(-(6%3*/0 *=(= 4(8(,4(,/ %1 /5( 3%,4*/*%,D 5(+-( +986*/;4( +,4 8(&*%4= @ &;, '+. 9+4( *,GCNIOP /% )(/ + 8*3/;&( %1 5%' /5( ./&%>( -(6%3*/0 -+&*(.= "5( 5(+-( /&+,.1(& 1;,3/*%,..5%'. -(&0 6*//6( 5(+-( +986*/;4( ?(6%' '+-( 8(&*%4. %1 ML .(3%,4.D /5(&(1%&( + MK.(3%,4 8(&*%4 '+. 35%.(, /% )(/ .%9( 6+&)( 9%/*%,.=

hcL=L

cLL=L

ccL=L

kLL=L

kcL=L

YLL=L

YcL=L

B Y

= c

B Y

B k

= c

B k

B c

= c

B c

B h

= c

B h

B X

= c

B X

B K

= c

B K

B M

= c

B M

B L

= c

L

L = c

M

M = c

K

K = c

X

X = c

h

h = c

c

c = c

k

k = c

Y

Y = c

@ & ; /

0 $ ;

` * B a

F8$;NK-0$; `La

@&;/0$; <K)0K-0$; '$) 42QK)



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Xh

C0N5)& W,Y c "-)$*& <&8$#0-M '$) )&N58K) (K<&/ 3W/ %&)0$6_ 31 L&-&) KL%80-56&_ #$))&/%$;6/ -$ K #M80;6&)/-)$*& $' K)$5;6 hcVL&-&)/_ -.0/ 0/ #8$/& -$ -.& LKf0L5L -.& /M/-&L #K; .K;68&,

U+63;6+/*%, %1 16%' *, 8*8(.H

"5( -%6;9( ,((4(4 /% 9%-( /5( 8*./%, K9 (R;+6. L=hML9 X +,4 /5( -%6;9( 16%' *. /5(,L=hML9XQ.=

"5( 8*8*,) 4*+9(/(& /5+/ .;886*(. /5( 504&+;6*3 %*6 /% /5( 306*,4(& *. +..;9(4 /5( .+9(

+. /5( 4*+9(/(& 1%& /5( .5;/B%11 -+6-(.= "5(&( +&( K .;886*(. 8(& 306*,4(&=

"5*. )*-(. + -(6%3*/0 *, /5( .;8860 8*8(. /% /5( 306*,4(& %1D

! ! !

!!"#$%&

!

!

! ! !"#$

! !"#$%"&'

! ! !! ! ! ! OR= h=ML

"5( G(0,%64. ,;9?(& '*66 -+&0 1&%9 ML X /% MLc 4(8(,4*,) %, 16%' -(6%3*/0 +,4/(98(&+/;&( %1 504&+;6*3 %*6 S-*.3%.*/0 1%& %*6 *. 5*)560 /(98(&+/;&( 4(8(,4+,/V= G(6+/*-(&%;)5,(..

!

! *. -(&0 36%.( /% /5( .9%%/5 8*8(D! ! ! ! !!" ! ! !!" !! != "5( :%%40 35+&/

/5(, )*-(. + 1&*3/*%,+6 3%(11*3*(,/ %1 L=Lh S6%' G(V /% L=LKc S5*)5(& G(V

7+&30 f `(*.?+35 1%&9;6+ /5(, )*-(. 1%& 5*)5 -(6%3*/0 3+.(

!" ! ! ! ! !"! !

! !""" ! ! !! ! ! ! !!" ! !" ! ! ! ! ! !!"#$

! ! !!" ! ! ! ! !" ! ! !! !"# OR= h=MM

"5*. 8&(..;&( 6%.. '*66 &(4;3( /5( 1%&3( 1&%9 /5( /(,.*%,(&.D ?;/ *. ,%/ 8&%8%&/*%,+6 /%/5( ./&%>( 4*.86+3(9(,/D ?;/ /% /5( -(6%3*/0 %1 /5( ./&%>( .R;+&(4= @,4 '*66 /5(, +3/ +. +4+98*,) 1%&3(= "5*. 3+, ?( +44(4 *, GCNIOP +. +<*+6 4+98*,) 1%&3( /% /5( /(,.*%,B(6%,)+/*%, ?(+9 (6(9(,/= @,4 '*66 ?( 8&%8%&/*%,+6 /% /5( ./&+*, &+/( .R;+&(4= @

8&(..;&( 6%.. %1 k=M ?+&. (R;+6. + /(,.*%, 6%.. %1 MKc>! 1&%9 (+35 306*,4(&= "5*. .5%'./5+/ /5( .0./(9 5+. 6+&)( /(,.*%, -+&*+/*%,. '5(, /5( 5(+-( +986*/;4( )(/. 6+&)( +,4



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Xc

/5( 8(&*%4 *. .5%&/= "5( 306*,4(&. +&( 4(.*),(4 1%& +, ;88(& 6*9*/ %1 K 9Q. ./&%>(-(6%3*/0 m2/(,D KLMKn=

m2/(,D KLMKn 3+63;6+/(4 /5&%;)5 2*9;6+/*%,P /5+/ /5( /(,.*%, -+&*+/*%, *. vB MLi >! 1&%9/5( 9(+, kMY>! 1%& 5(+-( +986*/;4( %1 K 9(/(&. +,4 + 8(&*%4 %1 MK .(3%,4. 1%& /5( XL?+& /(,.*%,(& .(//*,)= 2+9( 3%,4*/*%, '*66 *, /5( .*986*1*(4 3%,4*/*%, %,60 )*-( vB kL>!="5( .*986*1*(4 3%,4*/*%, *. 3%,.(&-+/*-(D +,4 8&(..;&( 35+,)( %, /5( 6%'B8&(..;&( .*4(.5%;64 ?( *,36;4(4 +,4 + 3%;86(4 +,+60.*. *. ,((4(4=

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

E1E Q+%0 '&/,0B 4I4%&A@,/* &(3%*6 .0./(9 *. + -(..(6 .8(3*1*3 3%98%,(,/ +,4 3%9(. *, 9+,0 4*11(&(,/ .(/B;8.+,4 3+, *,-%6-( 9+,;+6 %& +;/%9+/*3 3%,/&%6 .0./(9.= "5( +,/* &(3%*6 .0./(9 .8(3*1*(4 *,/5*. /5(.*. 3%,/&%6. /5( *,16%' %1 504&+;6*3 16;*4 /% /5( 306*,4(&D *=(= 3%,/&%6. /5( -(6%3*/0/5( 8*./%, 3+, &(/&+3/ '*/5= "5*. *. +//(98/(4 /% 9%4(6 '*/5 +, *,3&(+.*,) 4+98*,) 1%&3(+. /5( 6(,)/5 %1 /5( /(,.*%,B(6%,)+/*%, (6(9(,/ 9%-(. /%'+&4. \(&% 6(,)/5= "5(4+98*,) *. .(/ /% cLL !. KQ9 K 1%& vQB KB9(/(& (6%,)+/*%,= `5(, /5( 8*./%, &(/&+3/. +,4&(+35(. BL=i +,4 BL=l %1 &(6+/*-( (6%,)+/*%, /5*. -+6;( *. .(/ /% &(.8(3/*-(60 MLc +,4 MLk="5(.( -+6;(. +&( /;,(4 /5&%;)5 /(./*,)D /% 5*)5 4+98*,) )*-(. 3%98&(..*%, *, /5(306*,4(& +,4 &*.(&= "% 6%' -+6;( '*66 3+;.( + 6+&)( *98+3/ +,4 9+>( /5( /(,.*%,(&(6(9(,/. )% ;,./+?6(

E1H VI-',-I+#A0/ B,#-4C,36;4*,) 504&%40,+9*3 6%+4. 4;( /% '+-( +,4 3;&&(,/ *. + ./+,4+&4 8+&/ %1 GCNIOP="5(0 +&( 4(.3&*?(4 ?0 :%&*.%,t. (R;+/*%,=

! ! !"! !

!!

! ! ! ! !

!! ! ! ! ! OR= h=MK

! *. /5( 4(,.*/0 %1 .(+'+/(&D 7 /5( %;/(& 4*+9(/(& %1 /5( &*.(&D !! /5( 9+.. 3%(11*3*(,/D +

/5( +33(6(&+/*%,D! ! /5( 4&+) 3%(11*3*(,/ +,4 ; /5( -(6%3*/0 1&%9 '+-(. +,4 3;&&(,/=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Xk

C,8;/. ,((4(4 +&( /5( 4&+) 3%(11*3*(,/. +,4 /5( )(%9(/&0= C, /5( &(3%*6 +,+60.*. /5( 4&+)1%&3(. *, /5( -(&/*3+6 4*&(3/*%, '*66 ?( %1 *98%&/+,3(D 1&*3/*%, 1%&3(. 1%& /5( 9+&*,( &*.(&

S/+,)(,/*+6V +,4 /5( I:GJ '*66 3&(+/( 4&+)=

@ &*.(& .;?A(3/(4 /% + 3;&&(,/ 3+, 6(+4 /% -%&/(< *,4;3(. -*?&+/*%,.= "5*. '*66 ,%/ ?(/+>(, *,/% +33%;,/ *, /5*. 8+8(&=

G$L%$;&;- @K;N&;-0K8 6)KN @)K;/<&)/& 6)KN D)KN 60KL&-&)G*.(& A%*,/ L=M M=L L=ka;%0+,/ &*.(& A%*,/ L=M M=L M=LI:GJ K=L K=L h=c@KQ8& W,1 c >/&6 6)KN #$&''0#0&;-/ `9)M-$M) &- K8, 1233a

E1N Z&44&B A,%0,+

"5( -(..(6 9%/*%,. *, 2C:@ GCNIOP +&( 4(.3&*?(4 ?0 /&+,.1(& 1;,3/*%,. /5+/ +&(*98%&/(4 /% + .;88%&/ -(..(6= "5( ;88(& ,%4(. %1 /5( /(,.*%,(& 306*,4(&. +,4 /5( 9+&*,(&*.(& 5+-( ?%;,4+&*(. 1*<(4 /% /5( -(..(6 9%/*%,= "5( .8(3*1*3 -(..(6 ;.(4 *, /5( &(3%*6+,+60.*. *. /5( .(9* .;?9(&.*?6( @>(& 28*/.?(&)(, S,%' "&+,.%3(+, 28*/.?(&)(,V= "5*.*. +, @>(& ZBk( .*</5 )(,(&+/*%, 4;+6 +3/*-*/0 40,+9*3+660 8%.*/*%,(4 7J U6+.. X .(9*.;?9(&.*?6( 4(.*),(4 1%& '+/(& 4(8/5. ;8 /% KXLL9= U%98+&*,) /5( /&+,.1(& 1;,3/*%,.1%& 5(+4 +,4 ?(+9 .(+ .5%'. /5+/ 5(+4 .(+ *. 6*>(60 /% ?( /5( 8&(1(&&(4 3%,4*/*%,= C/)*-(. .6*)5/60 6(.. 5(+-( 1%& 9%./ 8(&*%4. +,4 6(.. 4&*1/= b,( 3+, .(( 1&%9 /5( /&+,.1(&1;,3/*%, *, 5(+-( /5+/ /5( 85+.( 4*11(&(,3( *. 36%.( /% \(&% 1%& 8(&*%4. %1 MMBMk .(3%,4.=`5*35 9(+,. /5+/ 35%%.*,) /5( 4*.3%,,(3/*%, 8%*,/ &(1(&&*,) /% '+-( (6(-+/*%, %& 5(+-(+986*/;4( *. &%;)560 /5( .+9(=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

XY

C0N5)& W,Z c @)K;/'&) '5;#-0$; '$) .&K<&_ .&K6 /&K

E1[ 9,-&B ) : P04/,++&/%0,+ %0A0+>

• `+/(& 4(8/5H cLL 9(/(&.• "(,.*%,*,) .0./(9H 7*&(3/ +3/*,) /(,.*%,(&.D XL ?+& .(//*,)=• "%/+6 /%8 /(,.*%, +886*(4H XkLL>!• "(,.*%, +/ I:GJ 3%,,(3/%&H XLL>!• U%,4*/*%,H C&&();6+& '+-(.D Wb!2`@J .8(3/&(D Z. q MX9D "8 q MK.D ,% 3;&&(,/

S.(( 3%99(,/. 1%& 4*.3;..*%, +?%;/ /5( '+-(.V• :;4 4(,.*/0H MkLL>)Q9 X • b?A(3/*-(H U%66*.*%, ?(/'((, I:GJ +,4 abJ=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Xi

D&/#)0%-0$; F8&<K-0$; `La b5086 5% 8&;N-. `La7&*66 16%%& hL

"(,.*%,(& 5+,)B%11 6%3+/*%, XY=Mc#88(& 16(< A%*,/ Xc=c M=X28+3(& A%*,/ Xh=K MK=LhkLt /(6(.3%8*3 A%*,/ KK=K MM=YlYct /(6(.3%8*3 A%*,/ ML=h KK=ik"(,.*%,(& &*,) l=l:(+, '+/(& 6(-(6 LG*.(& A%*,/. BMK=c cLG*.(& A%*,/. S?;%0+,/V BkK=c XiLG*.(& A%*,/. BhhKDc cL=K

I%'(& 16(< A%*,/ BhlX=Y M=XI:GJ Bhlh h=cabJ Bhli=c c=cabJ 6%'(& (,4 BcLh2(+?(4 BcLk@KQ8& W,4 c +K)0;& E0/&) /-K#* 5%_ V2T L (K-&) 6&%-.

E1[1) =7D&/%03&

"5( 9+*, %?A(3/*-( %1 /5*. +,+60.*. *. /% 6%%> +/ 3%66*.*%, ?(/'((, I:GJ +,4 /5( abJ=m]&0/%0& (/ +6= KLMMn ./;4*(4 /5*. 3+.(D +,4 .5%'(4 ,% *98+3/ 1%& 4*11(&(,/ 4*.3%,,(3/*%,85+.(. %, + &();6+& '+-(D ?;/ +, *,3&(+.( *, 5(+-( +986*/;4( +,4 + 4*.3%,,(3/*%, 85+.(%1 KYL +,4 XMc 4()&((. )+-( /5( &(.;6/. 36%.(./ /% *98+3/= KYL +,4 XMc 4()&((. +&(&(.8(3/*-(60 '5(, /5( 86+/1%&9 +&( %, + '+-( /%8D +,4 5+61'+0 4%', /5( '+-( /%8= "5()%+6 *. /% &(86*3+/( /5*. *, *&&();6+& .(+D +,4 4(9%,./&+/( 5%' /5( 4*.3%,,(3/*%, 8%*,/3+, ?( 3&*/*3+6= @ Wb!2`@J .8(3/&( '*/5 + 8(+> 8(&*%4 '*/5 MK .(3%,4. +,4 .*),*1*3+,/'+-( 5*)5 %1 MX9(/(&. '+. 35%.(, /% 5+-( 6+&)( 5(+-( 9%/*%,. +,4 ./((8 '+-(.= "5(:b7# *. 86+3(4 4*&(3/60 %-(& /5( abJ /% ,%/ 5+-( + 5%&*\%,/+6 %11.(/ +1/(& 4*.3%,,(3/*%,=

"5*. *. +,+60.*. *. 9(+,/ /% ?( + '%&./B3+.( .3(,+&*% /% )(/ +, *98+3/ +1/(& /5( I:GJ *..;88%.(4 /% ?( 6*1/(4 36(+& 1&%9 /5( abJ= "(,.*%, 1+*6;&( +,4 + MLLB0(+& '+-( '*66 %13%;&.( ?( /5( '%&./D .% /5( .3(,+&*% *. 4(.*),(4 '*/5*, &(+.%,+?6( 6*9*/.= "% 1*,4 /5(9%./ 3&*/*3+6 '+-( *, +, *&&();6+& .(+ ./+/(D 6%,) .*9;6+/*%,. +&( &(R;*&(4= "5*. '*66 /+>(;8 + 6%/ %1 3%98;/+/*%, /*9( +,4 */ *. ;,8&+3/*3+6 /% '+*/ 5;,4&(4. %1 .(3%,4. ?(1%&(4*.3%,,(3/*,)= 7*11(&(,/ .5%&/(& /*9( .(&*(. '*66 ?( 8(&1%&9(4 *,./(+4 ;,/*6 + .+/*.10*,)8%*,/ *. *4(,/*1*(4=

"5*. *. /5( 1*&./ /(./ .(/;8 1%& &(3%*6 +,+60.*. +,4 '*66 ?( ;.(4 /% /;,( +,4 /(./ /5( )(,(&+6.(/ ;8= 2%9( 35+,)(. ,((4(4 /% ?( 4%,( +,4 +&( 8&(.(,/(4 *, 3%99(,/. ?(6%'=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Xl

E1[18 !,AA&+%4"5( Wb!2`@J .8(3/&( *. (<8(3/(4 /% ?( + &(+.%,+?6( 9%4(6 1%& m7!TD KLMLn

! !! ! ! !

! !

! ! OR= h=MX

"5( 8&(.(,/ 3%,4*/*%, *. %, /5( 6%'(& .*4( %1 /5*. *,/(&-+6p /5( 8(&*%4 .5%;64 ?( 6+&)(&/5+, /5( .*),*1*3+,/ '+-( 5(*)5/= "5( 3%,4*/*%, '+. ,%/ 35+,)(4=

7;( /% /5( 5+&.5 (,-*&%,9(,/D 6+&)( /(,.*%, -+&*+/*%,. +/ /5( I:GJ %33;&&(4D +,4 /5(6%'B/(,.*%, .(//*,) *. ,%/ 6*>(60 /% ?( ;.(4 *, /5*. .3(,+&*%= 7*.3%,,(3/*%,. '(&(8(&1%&9(4 '*/5 ?%/5 6%' /(,.*%, +,4 + 5*)5(& /(,.*%, .(//*,) &(.;6/*,) *, clc>! +/ /5(3%,,(3/%&=

"5( .6;) 9%4(6 *, 2C:@ GCNIOP '+. ,%/ +?6( /% &(8&%4;3( /5( 9+.. 6%.. *, /5( &*.(&="5*. *. 4*.3;..(4 /% 6(,)/5 *, 35+8/(& k=X +,4 k=h= "5( &(.;6/. +&( +..;9(4 /% ?( -+6*4 *,/5( 1*&./ ML +1/(& /5( 4*.3%,,(3/*%, +,4 ,%/ *, 5+,) %11 9%4(=

E1[1< C&4.B%4 $'& $',/&440+>

C0N5)& W,] c +56 60/#.K)N& <&8$#0-M



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hL

C0N5)& W,32 c ?&;N.- $' L56 #$85L;

C0N5)& W,33 c C)0#-0$; '$)#&/ $; )0/&) BgL

E1\ 9,-&B 8 : P'0@% ,@@ 0+ .B%'# -&&$ 5#%&'

• `+/(& 4(8/5H McLL 9(/(&.• "(,.*%,*,) .0./(9H 7*&(3/ +3/*,) /(,.*%,(&.D YL ?+& .(//*,)=• "%/+6 /%8 /(,.*%, +886*(4H iYkL>!• "(,.*%, +/ I:GJ 3%,,(3/%&H hMc>! ?(1%&( 4&*1/ %11• `+-(.H Wb!2`@J .8(3/&(D Z. q MK9D "8 q Mh.• U;&&(,/H M9Q. +/ .;&1+3(D 6*,(+& 4(3&(+.( /% \(&% 3;&&(,/ +/ .(+?(4• :;4 4(,.*/0H MkLL>)Q9 X



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hM

• b?A(3/*-(H 2*9;6+/( 4&*1/ %11 *, 5+&.5 '(+/5(&• Z%&*\%,/+6 %11.(/H Yc9

D&/#)0%-0$; F8&<K-0$; `La b5086 5% 8&;N-. `La7&*66 16%%& hL"(,.*%,(& 5+,)B%11 6%3+/*%, XY=Mc#88(& 16(< A%*,/ Xc=c M=X28+3(& A%*,/ Xh=K MK=LhkLt /(6(.3%8*3 A%*,/ KK=K MM=YlYct /(6(.3%8*3 A%*,/ ML=h KK=ik"(,.*%,(& &*,) l=l

:(+, '+/(& 6(-(6 LG*.(& A%*,/. BMK=c KcLG*.(& A%*,/. S?;%0+,/V BKkK=c MLLLG*.(& A%*,/. BMKkKDc KXL=KI%'(& 16(< A%*,/ BMhlK=Y M=XI:GJ BMhlh h=cabJ BMhli=c c=cabJ 6%'(& (,4 BMcLh2(+?(4 BMcLk@KQ8& W,W c +K)0;& )0/&) /-K#* 5%_ 3V2T L (K-&) 6&%-.

E1\1) =7D&/%03&C, /5( 4&*1/B%11 %& 4&*-(B%11 .*9;6+/*%, /5( -(..(6 *. +..;9(4 /% 6%%.( */. +?*6*/0 /%9+*,/+*, */. 8%.*/*%, %-(& /5( '(66= "5( (9(&)(,30 4*.3%,,(3/*%, 8&%3(4;&( *. *,*/*+/(4+/ + h w 5%&*\%,/+6 %11.(/ %1 /5( '+/(& 4(8/5= "5( 8&%3(4;&( 3+, /+>( ;8 /% M 9*,;/( /%3%986(/( +,4 */ *. +..;9(4 /5+/ /5( 5%&*\%,/+6 %11.(/ 5+-( &(+35(4 c w '5(, /5( I:GJ*. &(6(+.(4 1&%9 /5( abJ= C98+3/ ?(/'((, /5( abJ +,4 I:GJ *. ,%/ 6*>(60 *, /5*. 3+.(4;( /% 5%&*\%,/+6 9%-(9(,/ +'+0 1&%9 /5( abJ +1/(& 4*.3%,,(3/*%,= Z%&*\%,/+6 %11.(/ %1Yc 9(/(&. *,3&(+.(. /5( 6(,)/5 %1 /5( &*.(& ?0 K 9(/(&. +,4 *. 3%98(,.+/(4 ?0 /5(

/(,.*%,(&.= C/ *. 3&*/*3+6 /5+/ /5( O72 *. +3/*-+/(4 *, + 4&*1/B%11 .3(,+&*% /% +-%*4 4+9+)*,)/5( '(66 5(+4D 6+&)( 9%9(,/. '*66 ?( /&+,.1(&&(4 /% /5( abJ 4;( /% /5( 5%&*\%,/+63%98%,(,/ %1 /5( /(,.*%,= G*.(& 3%98&(..*%, +,4 ?;3>6*,) *. +,%/5(& 4+,)(& *, 5*)5B/(,.*%, &(3%*6= C1 /5( /%8 -(..(6 *. + 4&*66 .5*8D 3%66*.*%, *, /5( 9%%, 8%%6 +&(+ *. +,%/5(&4+,)(& 4;( /% /5( +,)6( %1 /5( &*.(&= "5( 9%%, 8%%6 3%66*.*%, *. ,%/ 6%%>(4 *,/% 5(&(=

E1\18 !,AA&+%4"5(&( +&( .%9( ;,3(&/+*,/*(. 3%,,(3/(4 /% /5( 1&*3/*%, 1%&3(. +,4 9+.. 6%.. *, /5( &*.(&="5( 3+63;6+/*%, *,4*3+/(. /5+/ /5( 4*.35+&)( /+>(. MML .(3%,4. /% 3%986(/(= @ &*.(& /5*.6%,) '*66 &(R;*&( /% 5+-( -+&*%;. &(1*66 -+6-(. /% +-%*4 /5( ,()+/*-( '+/(& 5+99(& (11(3/+,4 &(1*66 .(+'+/(& 1+./ (,%;)5= "5( 1&*3/*%, 1%&3(. +,4 9+.. 6%.. '*66 -+&0 +6%,) /5(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hK

6(,)/5 %1 /5( &*.(&= "5( .*986*1*3+/*%,. 9+4( 5+-( %,60 /*9( -+&0*,) 1%&3(.= b,(3+63;6+/*%, '*66 6%%> +/ /5( 4*11(&(,/ 40,+9*3. %1 9+.. 6%.. +,4 '*/5%;/=

E1\1< C&4.B%4 $'& $',/&440+>

C0N5)& W,31 c @&;/0$; <K)0K-0$; '$) Y2 QK) /&--0;N O/0;N8& -&;/0$;&)P

C0N5)& W,34 c +56 60/#.K)N& <&8$#0-M

MKLL

MXLL

MhLL

McLL

MkLL

MYLL

MiLL

BY=c Bk=c Bc=c Bh=c BX=c BK=c BM=c BL=c L=c M=c K=c X=c h=c c=c k=c Y=c

@ & ; /

0 $ ;

` * B a

F8$;NK-0$; `La

@&;/0$; <K)0K-0$; Y2 QK)



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hX

C0N5)& W,3W c ?&;N-. $' L56 #$85L;

C0N5)& W,3V c C)0#-0$; '$)#&/ $; )0/&) BgL



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hh

!"#$%&' H C&4.B%4 '&/,0B #+#BI404

@,+60.(. 5+-( ?((, 4%,( 1%& /'% 4*11(&(,/ 9%4(6. '*/5 4*11(&(,/ %?A(3/*-(.= b,(.(8+&+/( 9+.. 6%.. 9%4(66*,) '+. +6.% 8(&1%&9(4 4;( /% 4*11*3;6/*(. '*/5 /5( .6;) 9%4(6*, 2C:@ f GCNIOP= "5( &(.;6/. +&( 1+*&60 (+.0 /% .(( +,4 *,/(&8&(/p /5( 3%99(,/*,) *./5(&(1%&( >(8/ .5%&/=

"5*. /5(.*. 4%(. ,%/ 8(&1%&9 + &(3%*6 +,+60.*. 1%& + .8(3*1*3 3+.( 8&%?6(9= C/. %?A(3/*-( *.+. 9;35 /5( ;.( %1 2C:@ GCNIOP 1%& /5*. /08( %1 8&%?6(9D +. */ *. /5( 1*,4*,). *, /5(&(3%*6. +,+60.*.= N%& .*986*3*/0D /5( &*.(& 3%,/+*,. 9;4D '*/5%;/ + 4&*66 8*8( *,.*4(=:%4(66*,) *..;(. +,4 -+6*4+/*%, +&( 8&(.(,/(4 *, 35+8/(& k B 4*.3;..*%, +,4.5%&/3%9*,).=

• G(.;6/. c=M f 70,+9*3. 4;( /% 4*11(&(,/ 9+.. %1 /5( &*.(&D 1&*3/*%, 1%&3( *. +886*(4*, /5( '&%,) 4*&(3/*%,D ?;/ +1/(& /5( /&+,.*/*%, /5( &(.;6/. +&( -+6*4= 25%'4*11(&(,/ 40,+9*3. 1%& &*.(& '*/5 9;4 +,4 &*.(& '*/5 .(+'+/(& *,.*4(=

• G(.;6/. c=K f 7*.3%,,(3/*%, /*9*,) 1%& 8%..*?6( *98+3/ '*/5 abJ= "5(.( &(.;6/.+&( *,-+6*4D 1&*3/*%, 1%&3(. +&( +886*(4 *, '&%,) 4*&(3/*%,D +,4 9+.. 6%.. *. ,%/*,36;4(4= "5( (11(3/. %1 /5( 4*11(&(,/ 4*.3%,,(3/*%, /*9*,). +&( .%9('5+/ 3%&&(3/=

• G(.;6/. c=X f 7&*1/ %11 .*9;6+/*%,= N&*3/*%, 1%&3( 5(&( *. +886*(4 *, /5( '&%,)4*&(3/*%,D +,4 9+.. 6%.. *. 9%4(66(4 +. + .6%' 1%&3( &(8&(.(,/*,) /5( 4*11(&(,3( *,'(*)5/ ?(/'((, 9;4 +,4 .(+'+/(&= G(.;6/. +&( +33;&+/( ?(1%&( /5(4*.3%,,(3/*%,D 6%%>*,) +/ ./&%>( %;/ %1 /(6(.3%8*3 A%*,/ +,4 ?(,4*,) 9%9(,/. %,

/5( abJ= "5( 5+,) %11 40,+9*3. +&( 8&(.(,/(4 +1/(& /5( 1&*3/*%, 1%&3( *. %-(&=

• G(.;6/. c=h f G(8(+/. /5( &(3%*6 +,+60.*. *, c=MD ?;/ '*/5 1&*3/*%, 1%&3( +886*(4 *,/5( 3%&&(3/ 4*&(3/*%,= 7;( /% 6+&)( 1&*3/*%, 1%&3(. /5( &*.(& '*66 ?( 8;66(4 4%', *19+.. 6%.. *. +..;9(4 /% ?( + .6%' 8&%3(..= @6/(&,+/*-( 9%4(6 '+. .(/ ;8 '*/5*,./+,/ 9+.. 6%..= "5( 16;*4 *,.*4( /5( &*.(& *. +..;9(4 /% 5+-( ,% 3%,/&*?;/*%,./% /5( '(*)5/ *, /5( +<*+6 4*&(3/*%, %1 /5( &*.(& %,3( */ *. 4*.3%,,(3/(4=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hc

H1) 9#44 B,44 -.& %, -04/"#'>& ,@ A.-

"5( .6;) 1%&3( 9%4(6 *, 2C:@ f GCNIOP 8&%-(4 ;,+?6( /% 9%4(6 /5( 9+.. 6%.. *, /5(&*.(&= "5*. '+. ,%/ >,%', /% ?( +, *..;( ?(1%&( 6+/( *, /5*. /5(.*.= @ .(8+&+/( +,+60.*.'+. 8(&1%&9(4 /% .(( /5( 3%,.(R;(,3(. %1 ,%/ 4*.35+&)*,) /5( 9;4 +,4 /% 1*,4 %/5(&9%4(66*,) %8/*%,.= "5( &(.;6/. +&( 8&(.(,/(4 5(&(D '5*6( /5( 4*.3;..*%, +,4 (<86+,+/*%,+&( 1%;,4 *, 35+8/(& k=XD k=h +,4 k=c

"5( 9%4(6 ;.(4 1%& /5*. +,+60.*. *. /5( .+9( +. 1%& 4*.3%,,(3/*%, /*9*,)= cLL 9(/(&.'+/(& 4(8/5 +,4 MkLL>)Q9 X 9;4 4(,.*/0= N&*3/*%, 1%&3(. +&( *,36;4(4=

C0N5)& V,3 c DM;KL0#/ $' -.& ?+EJ K'-&) 60/#$;;&#-0$;, 9)&&; )&%)&/&;-/ ;$ LK// 8$//_ Q85& K;6 )&6 O8$(6KL%0;NP )&%)&/&;-/ K #$;/-K;- '$)#& &e5K8 -$ -.& LK// 8$//_ M&88$( K;6 6K)* Q85& O8$( 6KL%0;NP #$;-K0;//&K(K-&) 0;/-&K6 $' L56,

"5( 1*);&( +?%-( &(8&(.(,/. X 4*11(&(,/ 3+.(.H !% 9+.. 6%.. *, /5( &*.(&D + 1%&3( ;8'+&4.&(8&(.(,/*,) /5( 9+.. 6%.. +,4 + &*.(& /5+/ 3%,/+*,. .(+'+/(& *,./(+4 %1 9;4= "5( +,/*&(3%*6 .0./(9 &(8&(.(,/. 6+&)( 4+98*,) -+6;(. '5(, /5( 306*,4(& *. &(/&+3/(4D +,4 /'%/(./. '*/5 6%' 4+98*,) +&( +6.% *,36;4(4=

`5(, ./;40*,) %,60 /5( 5+,) %11 9%4( %1 /5( &*.(&D %,( 3+, .(( /5+/ /5( 40,+9*3. +&(-(&0 .*9*6+&= C/ *. %,60 /5( -(&/*3+6 9(+, -+6;( /5+/ *. +11(3/(4 ?0 &(/+*,*,) /5( 9;4



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hk

3%98+&*,) /% .(+'+/(& %& /5( 9+.. 6%.. 1%&3(= "5( 9%4(6 '*/5 .(+'+/(& )*-(. /5( 9%./-*%6(,/ &(3%*6D /5*. 4;( /% 9;35 5*)5(& /(,.*%, +/ /5( I:GJ 3%,,(3/%&= "5( 5*)5 4+98*,)

-+6;(. +/ /5( &(/&+3/(4 8%.*/*%, 5+4 6*//6( *,16;(,3( %, /5( 40,+9*3.=

C, 35+8/(& X */ *. '&*//(, /5+/ &(/+*,*,) /5( 9;4 3+;.(. ;,'+,/(4 40,+9*3. %1 /5( &*.(&+1/(& 4*.3%,,(3/*%, 4;( /% /5( 1;,4+9(,/+6 8(&*%4 *. 36%.(& /% /5( '+-( 8(&*%4.= "5*.(11(3/ *. ,%/ .((, 36(+&60 5(&(= "5( 6+&)(./ 4%;?6( +986*/;4( *, /5( 5+,) %11 9%4(5+88(,. +/ MXL .(3%,4.= N%& /5( 3%,4*/*%, '*/5%;/ 9+.. 6%.. */ *. .6*)5/60 6+&)(& /5(, /5(%/5(&.=

C0N5)& V,1 c S&8$#0-M $' -.& -&;/0$;&)/ )&-)K#-0;N K'-&) 60/#$;;&#-0$;, 9)&&; 0/ (0-. /&K(K-&)_ )&6 0/ (0-.$5-LK// 8$// K;6 Q85& 0/ (0-. K '$)#& 6&/#)0Q0;N -.& LK// 8$//,

"5( 1*);&( .5%'. 36(+&60 /5( 5*)5(& &(/&+3/*%, -(6%3*/0 1%& /5( &*.(& '*/5 .(+'+/(&=2(+'+/(& 3+, %,60 ?( ;.(4 1%& 8;&8%.(. %1 ./;40*,) /5( 5+,) %11 .*/;+/*%,D +,4 ,%/ /5(&(3%*6 */.(61D .*,3( /5( /(,.*%,(& .(//*,) *. 4(.*),(4 1%& /5( '(*)5/ %1 /5( .0./(9 '*/59;4 *,.*4(= "5( .(+'+/(& 9%4(6 )(/. /5( .+9( 40,+9*3. +. /5( 9%4(6 &(8&(.(,/(4 '*/5+ 1%&3( 4(.3&*?*,) /5( 9+.. 6%..= Z(&( /5( 4*11(&(,/ 40,+9*3. ?(3%9(. 36(+&(&=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hY

C0N5)& V,4 c @&;/0$; Q&8$( -&;/0$;&) )0;N, b85& )&%)&/&;- #$;/-K;- LK// 8$// '$)#&_ )&6 0/ (0-.$5- LK// 8$//_N)&&; 0/ (0-. /&K(K-&),

"5( 1*);&( .5%'. /5( /(,.*%, -+6;(. 1%& /5( (6(9(,/ A;./ ?(6%' /5( /(,.*%,(& &*,)= "5(&(3%*6. 5(&( +&( 8(&1%&9(4 1%& 6%' /(,.*%, +,4 ?(1%&( '+-(. 5+-( +,0 +986*/;4(= "5*.)*-(. +F.%1/F &(3%*6= "5( /(,.*%, &*.(. +)+*, +1/(& /5( 1*&./ 4&%8= "5( .(+'+/(& 9%4(6 +,4/5( 9%4(6 '*/5 9+.. 6%.. 3%,1*);&+/*%, A%*, /%)(/5(& +1/(& /5( &(3%*6 *. %-(&= "5(3%,4*/*%, '*/5%;/ 9+.. 6%.. 5+. 5*)5(& /(,.*%, 4;( /% 9%&( '(*)5/ *, /5( &*.(&=

H18 9,-&B ) : P04/,++&/%0,+ %0A0+>

7*11(&(,/ /*9( .(&*(. 1%& /5( 5(+-( +986*/;4( %1 /5( -(..(6 '(&( ./;4*(4= U5+,)*,) /5(.((4 ,;9?(& ;,4(& 40,+9*3 3+63;6+/*%, *, 2C:@ f GCNIOP 8&%-*4(. 4*11(&(,/ '+-()(,(&+/*%,= "5( 1%66%'*,) /*9( .(&*(. '+. 35%.(, /% 8(&1%&9 /5( 4*.3%,,(3/*%,= C/ '+.1%;,4 /5+/ /5( /(,.*%, +/ /5( I:GJ '+. /% 6%' *, + 3%,4*/*%, 6*>( /5*. S36%.( /% \(&%/(,.*%, *, /5( 40,+9*3+6 -+&*+/*%,V= "5( 4*.3%,,(3/*%, '+. 8(&1%&9(4 ?%/5 1%& XLL >!+,4 clc >! /(,.*%, .(//*,) +/ /5( 3%,,(3/%&=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hi

C0N5)& V,W c R&K<& KL%80-56& '$) -.& #$;60-0$;

"5( 5(+-( +986*/;4( .(6(3/(4 5+. + /%8 +/ kk=c. .(3%,4 '*/5 1%66%'*,) ?%//%9 +/ YX.(3%,4 '*/5 4%;?6( +986*/;4( %1 h=l9= 7*.3%,,(3/*%, 8%*,/. +/ kYDki +,4 kl '(&(/(./(4= "5( 8(&*%4 1%& /5( &(/&+3/*%, %1 /5( &*.(& +1/(& 4*.3%,,(3/*%, *. 1%;,4 /% ?(

+&%;,4 c .(3%,4. 1&%9 8&*%& /(./ &;,.= "5*. '*66 )*-( /5( 9%./ 6*>(60 *98+3/ ?(/'((, /5(abJ +,4 I:GJ=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

hl

C0N5)& V,V c F8&<K-0$; $' -.& ?+EJ '$) 60''&)&;- 60/#$;;&#-0$; %$0;-/, I&88$( K;6 6K)* Q85& O8$(&/- 0;6&/#)0%-0$;P K)& '$) -.& 422*B /&--0;N,

"5(&( '+. ,% *98+3/ ?(/'((, /5( abJ +,4 I:GJ 1%& /5*. 3%,4*/*%,D ?;/ /5( 1*);&(4(9%,./&+/(. -(&0 '(66 '5+/ 5+88(,. '5(, /5( 4*.3%,,(3/*%, %33;&. '5*6( /5( -(..(6 *.9%-*,) 4%', 1&%9 + '+-( /%8= 7*.3%,,(3/*,) +/ /5( '+-( /%8 SkY.V 9+>(. /5( I:GJ /%6*1/ %11 +,4 5+-( + 6*//6( 4&%8 4%', ?(1%&( */ )%(. ?+3> ;8D /5*. 4&%8 5+88(,. '5(, /5(-(..(6 *. 9%-*,) 1+./ 4%','+&4. /% /5( '+-( /&%;)5= 7*.3%,,(3/*,) +/ kl .(3%,4. *. /5(9%./ 3&*/*3+6= "5( (6(-+/*%, %1 /5( I:GJ *. A;./ +?%-( M 9(/(& /5( 1*&./ X .(3%,4. +1/(&4*.3%,,(3/*,)= "5*. 4(9%,./&+/(. /5+/ /5( 4*.3%,,(3/*%, /*9*,) 3+, ?( 3&*/*3+6D *1 /5(5(+-( +986*/;4( *. 6+&)( (,%;)5 +,4 /5( -(..(6 *. 9%-*,) 4%', '5(, /5( 4*.3%,,(3/*%,%33;&.D + 3%66*.*%, ?(/'((, /5( abJ +,4 I:GJ *. 86+;.*?6(= Z%'(-(& 1%& /5*. /% +3/;+660%33;& *. 5*)560 ;,6*>(60D + 4*.3%,,(3/*%, .5%;64 ?( 8(&1%&9(4 6%,) ?(1%&( + ./%&94(-(6%8. *,/% + 4+,)(&%;. .(+ ./+/(= Z%&*\%,/+6 %11.(/ '*66 +6.% .+1(60 &(9%-( /5( I:GJ1&%9 /5( abJ=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

cL

C0N5)& V,T^ E&-)K#-0$; /%&&6 $' -.& ?+EJ

C0N5)& V,Y c @&;/0$; Q&8$( -.& -&;/0$;&) )0;N '$) .0N. -&;/0$; /&--0;N K;6 8$( -&;/0$; /&--0;N

N*);&( c=k .5%'. /5( &(/&+3/*%, .8((4 1%& 4*.3%,,(3/*%, '*/5 %,( .(3%,4 /*9( *,/(&-+6="5( .8((4 *. 6%'(./ 1%& kl .(3%,4.D *=(= /5( &(6+/*-( 9%-(9(,/ ?(/'((, -(..(6 +,4/(,.*%,(& &(/&+3/*%, *. +/ */. 5*)5(./= N*);&( c=Y .5%'. /5( 40,+9*3 -+&*+/*%, %1 /(,.*%,

+/ /5( I:GJ 3%,,(3/%&= "5( 6%' /(,.*%, .(//*,) SXLL >!V 5+-( \(&% /(,.*%, +/ kL



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

cM

.(3%,4.D /5*. *. *, + '+-( /&%;)5= 7*.3%,,(3/*%, +/ /5*. *,./+,/ )*-(. + 36(+& 6*1/ %11?(3+;.( /5( -(..(6 *. 9%-*,) ;8'+&4.=

C0N5)& V,Z c @&;/0$; Q&8$( -.& -&;/0$;&) )0;N

7*.3%,,(3/*,) /5( 9+&*,( &*.(& %, /5( /%8 %1 /5( 5(+-( +986*/;4( '*66 3&(+/( + E-*%6(,/F&(3%*6= "5( /(,.*%,(&. +&( 9%&( ./&(/35(4 %;/ 9(+,*,) 5*)5(& /(,.*%, *, /5( .0./(9D +,4/5( &(6+/*-( 9%/*%, ?(/'((, -(..(6 +,4 &*.(& '%&> ,()+/*-(60= b,60 /5( 4*.3%,,(3/*%,/*9*,) %1 kY .(3%,4. )*-(. 3%98&(..*%, -+6;(. *, /5( &*.(& 1%& + .5%&/ 8(&*%4 %1 /*9(S6(.. /5+, L=c .(3%,4.V= U%98&(..*%, %-(& /5( 6(,)/5 %1 /5( &*.(& '*66 9+>( /5( &*.(&?;3>6( +,4 4+9+)( */= "5( +,/* &(3%*6 .0./(9. +&( 4(.*),(4 1%& /5*. /% ,%/ 5+88(,=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

cX

C0N5)& V,32 c R&K<& KL%80-56& '$) -.& <&//&8

N*&./ 4*.3%,,(3/*%, %33;&. +/ + '+-( /%8D .(3%,4 5+61'+0 4%', /5( '+-(D /5*&4 36%.( /% +'+-( /&%;)5 +,4 1%;&/5 +69%./ ;8 %, + '+-( /%8=

C0N5)& V,33 c b&;60;N L$L&;-/ K#-0;N $; -.& bAJ Q&'$)& 60/#$;;&#-0$;

a(1%&( /5( '+-(. ./+&/ /% +3/ /5( ?(,4*,) 9%9(,/ 4;( /% /5( 5%&*\%,/+6 %11.(/ +6%,( *.xXiLL>!9= `*/5 /5( '+-( 40,+9*3. /5( 9%9(,/ &(+35(. + 9+< -+6;( %1 hKLL>!9="5*. *. 6+&)( 9%9(,/. +,4 /5( &(+.%, 1%& 4*.3%,,(3/*,) ?(3%9(. 36(+&= "5(.( 9%9(,/.



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

ch

'*66 ?( /&+,.1(&&(4 ?0 /5( abJ +,4 *,/% /5( '(665(+4 +,4 3+.*,)= Z%' 9;35 + /08*3+6'(665(+4 3+, /%6(&+/( *. ,%/ >,%', *, /5*. /5(.*.=

C0N5)& V,31 c @&;/0$; 0; )0/&) K- cWT2 L&-&) '$) 60''&)&;- 60/#$;;&#-0$; -0L0;N/,

"5( 4*.3%,,(3/*%, /*9*,) 5+. + )&(+/ *,16;(,3( 1%& /5( &*.> %1 3%98&(..*%, *, /5( &*.(&=!% 3%98&(..*%, %33;&&(4 1%& /5( 4&*1/B%11 9%4(6D ?;/ 4*.3%,,(3/*%, +/ hY .(3%,4. '+.36%.( /% )%*,) *, \(&% /(,.*%,= "5( -(&/*3+6 8%*,/ '(&( /5( /(,.*%, 4&%8 '+. 5*)5(./ *.

?(/'((, KQX +,4 XQh ;8 /5( &*.(& 6(,)/5=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

ck

C0N5)& V,3W c R&K<& KL%80-56& $' <&//&8 #$L%K)&6 (0-. -&;/0$;&) L$-0$; 0; .K;N $'' L$6&

U%98+&*,) /5( 5(+-( +986*/;4( 1%& /5( -(..(6 '*/5 /5( ./&%>( %1 /5( /(,.*%,. .5%'. +

&%;)560 M /% M &(6+/*%, %1 /5( 9%/*%,= "5*. 3+, *,4*3+/( /5+/ /5( .8&*,) ./*11,(.. *. 6+&)(3%98+&(4 /% /5( '(*)5/ %1 /5( &*.(&= "5*. 40,+9*3. *, 5+,) %11 9%4( +&( 1;&/5(&4*.3;..(4 *, 35+8/(& k=

C0N5)& V,3V c DM;KL0#/ $' ?+EJ 0; .K;N $'' L$6&_ )&6 80;& (0-. '$)#& 6&/#)0%-0$; $' LK// 8$//_ Q85& (0-.$5-LK// 8$//

"5( &*.(& '*/5 9+.. 6%.. +,4 &*.(& '*/5 9;4 &(/+*,(4 .5%' .*9*6+& 40,+9*3. *, /5( 5+,)%11 9%4(= "5( 9+*, 4*11(&(,3( *. /5( 5*)5(& &(/&+3/*%, 1%& /5( 9+.. 6%.. 9%4(6D +,4 +



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

ci

@69%./ *,./+,/60 '5(, /5( I:GJ *. 4*.3%,,(3/(4D /5( 6%'(& (,4 %1 /5( &*.(& '*66 ?( %8(,D+,4 /5( 9+.. *,.*4( */ 5+. ,% 3%,/&*?;/*%, /% /5( '(*)5/ %1 /5( &*.(&= S2%9( 1&*3/*%, +,4

*,(&/*+ (11(3/. 3+, %33;& *, + 6%,) &*.(& '*/5 3;&-+/;&(V= "% )(/ /5( 3%&&(3/ &(3%*6 *, /5(&*.(&D /5( 9+.. 6%.. *. 9%4(66(4 '*/5 40,+9*3+6 ,%4+6 1%&3(. *, /5( )6%?+6 3%%&4*,+/(.0./(9= "5( /%/+6 9+.. %1 /5( 9;4 3%,/+*,(4 *, /5( &*.(& *. 3+63;6+/(4D +,4 .8&(+4 +. +-(&/*3+6 1%&3( %-(& /5( 6(,)/5 %1 /5( &*.(&= "5*. &(.;6/. *, +, ;8'+&4 1%&3( %1 MhYc>!D /5*.1%&3( *. +44(4 %-(& + 8(&*%4 %1 K .(3%,4. ?(1%&( */ *. 3%,./+,/=

C0N5)& V,3Y c F8&<K-0$; $' ?+EJ (0-. 60/#$;;&#-0$; -0L0;N/ $' TY_ TZ_ T] K;6 Y2 /&#$;6/,

"5(.( &(.;6/. .5%'. /5( .+9( /(,4(,30 +. *, c=MD ?;/ /5( 1%&3(. ?(5*,4 */ *. 4*11(&(,/= !%3%66*.*%, %33;&. 1%& /5*. '+-( +986*/;4(=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

cl

C0N5)& V,3Z H F8&<K-0$; $' ?+EJ, ".$(/ -.& 60''&)&;#& 0; )&/58-/ ')$L L$6&8 0; V,3 OQ85&P K;6 -.& #$))&#-&6L$6&8 O)&6P

"5*. 1*);&( )*-( +, 3%98+&*.%, %1 /5( (6(-+/*%, %1 /5( I:GJ 1%& /5( &(.;6/ *, c=M +,4 /5(,(' '5(&( /5( 1&*3/*%, 1%&3( *. '%&>*,) 4%','+&4. +,4 /5( 9+.. 6%.. *. +69%./ *,./+,/="5( 3;&-(. +&( -(&0 .*9*6+&D ?;/ 1%& 4*11(&(,/ &(+.%,.=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kL

C0N5)& V,3] c G$L%)&//0$; 0; -.& )0/&)

:%4(66*,) /5( 9+.. 6%.. +. + ,%4+6 1%&3( %-(& /5( 6(,)/5 %1 /5( &*.(& 3+, 6(+4 /% 5*)5(&

3%98&(..*%, -+6;(.= "5( h 4*11(&(,/ 6*,(. &(8&(.(,/ 4*.3%,,(3/*%, /*9*,). %1 kYD kiD kl+,4 YL .(3%,4.= b,60 kY +,4 ki 5+-( 3%98&(..*%, *, /5( &*.(&D +,4 4(9%,./&+/(. /5((11(3/ %1 '5(, /5( 4*.3%,,(3/*%, %33;&.= C, c=M 3%98&(..*%, -+6;(. '(&( 9;35 6(..D /5*.'+0 %1 9%4(66*,) /5( 9+.. 6%.. '*66 1%&3(. +,4 3%98&(..*%, *, /5( &*.(& /5+/ *. ,%/ &(+660/5(&(=

"5(&( '+. ;,1%&/;,+/(60 ,%/ (,%;)5 /*9( /% &(B4% +66 +,+60.*.D +,4 /% 4(-(6%8 + ?(//(&'%&>*,) 9+.. 6%.. 9%4(66*,)=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kM

H1H L/'&&+4",%4 @',A %"& 40A.B#%0,+4

C0N5)& V,12 c @&;/0$;0;N /M/-&L Q&'$)& 60/#$;;&#-0$; K;6 K'-&)



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kK

C0N5)& V,13 bAJ K;6 ?+EJ 60/#$;;&#-&6 0; -.& 6)0'-c$'' /0L58K-0$;

C0N5)& V,11 c ?+EJ 80'-0;N $'' bAJ (0-. Q$-. <&)-0#K8 K;6 .$)0i$;-K8 L$<&L&;-



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kX

!"#$%&' N P04/.440,+ #+- 4",'%/,A0+>4

GCNIOP *. + '(66B4%3;9(,/(4 8&%)&+9 +,4 *. %,( %1 /5( ?(./ .%1/'+&(t. 1%& 16(<*?6( &*.(&(,)*,((&*,)= C/ 5+. ?((, 8&%-(4 /% )*-( +33;&+/( &(.;6/. '5(, 3%98+&*,) /% 1;66B.3+6(+,+60.*.=

"5( ;.( %1 GCNIOP 1%& + &(3%*6 +,+60.*. .((9. /% ?( + 1+*&60 ,(' ;.( %1 /5( .%1/'+&(D +,4/5( -+6*4*/0 %1 /5( &(.;6/. '*66 4(8(,4 %, 5%' '(66 /5( 9+A%& (11(3/. 3+, ?( 9%4(66(4=

"5( 9+A%& (11(3/. 3+, ?( .;99(4 ;8 /% /(,.*%, -+&*+/*%,D 4+98*,)D 1&*3/*%,+6 1%&3(. +,49+.. 6%.. 1&%9 9;4 4*.35+&)( +,4 +,/* &(3%*6 .0./(9=

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

"5( 1&*3/*%, 1%&3( &(6+/(4 /% /5( 9;4 4*.35+&)( 8&%?6(9 '+. 1*&./ +..;9(4 /% ?(+,+6%)%;. /% + 1*&( 5%.(= C/ '+. +..;9(4 /5+/ /5( 1&*3/*%, 1%&3( '+. +9%,) /5( 1%&3(.8;.5*,) /5( 1*&(9+, ?+3>'+&4.= "5*. *4(+ '+. /&+,.1(&&(4 /% /5( 9;4 4*.35+&)(D&(.;6/*,) *, + 1%&3( 4*&(3/(4 ;8'+&4. %, /5( &*.(&= "5*. .((9(4 6%)*3+6 +,4 /5( 1%&3(4*&(3/*%, '+. ,%/ ./;4*(4 1;&/5(&=

"5( 1&*3/*%, 1%&3( '%&>. %88%.*/( /5( 16%' '5(, 4&+'*,) + 1*);&(D ?;/ */ *. + 1%&3( /5(&*.(& *. (<(&/*,) %, /5( 9;4= !('/%,t. /5*&4 6+' /5(, ./+/(. /5+/ /5( 1%&3( '%&>.4%','+&4. %, /5( &*.(&=

N18 ;&+40,+&' 4I4%&A1"% 4% + &(3%*6 +,+60.*. %,( 1*&./ ,((4. + )%%4 9%4(6 %1 /5( 4&*66*,) &*.(& +,4 /5(/(,.*%,(& .0./(9= "(,.*%,(&. 3+, ?( 9%4(66(4 *, .(-(&+6 4*11(&(,/ '+0. *, GCNIOPD ?;/%,60 /5( /(,.*%,(&. /5(9.(6-(. +,4 ,%/ /5( '5%6( .0./(9 /5+/ 8&%-*4(. /5( 1%&3(35+&+3/(&*./*3.= @ .(8+&+/( +,+60.*. *. ,((4(4 /% +3R;*&( 1%&3( +,4 4+98*,) -+&*+/*%,=2%1/'+&( .;35 +. 2*9;6+/*%,P %& .*986*1*(4 3+63;6+/*%,. 3+, 8&%-*4( /5*.= "5( .*986*1*(4

3+63;6+/*%,. 9+4( 1%& /(,.*%, -+&*+/*%, *, 35+8/(& c '(&( 3%98+&(4 ;8 /% /5( -+6;(.%?/+*,(4 ?0 2*9;6+/*%,P m2/(,D KLMKn= "5( -+6;(. %?/+*,(4 ?0 /5( .*986*1*(4



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kh

3+63;6+/*%,. 8&%-(4 /% )*-( 6(.. /(,.*%, -+&*+/*%, /5+, %?/+*,(4 ?0 2*9;6+/*%,P= U%;86(4+,+60.*. *. ,((4(4 /% )(/ /5( &*)5/ -+&*+/*%,= C, GCNIOP /5(.( /'% (11(3/. 5+-( .(8+&+/(

*,8;/= N%&3( -+&*+/*%, *. )*-(, +. 1;,3/*%, %1 (6%,)+/*%, *, +<*+6 ./*11,(.. 1%& /5( (6(9(,/D'5*6( /5( 16%' -(6%3*/0 8&%-*4(. +<*+6 4+98*,) +. 1;,3/*%, %1 ./&+*, &+/( .R;+&(4 1%& +)*-(, (6%,)+/*%,=

#.*,) ?(+9 (6(9(,/. '*/5 8*8( *, 8*8( 3%,/+3/. S306*,4(&Q&%4V 1%& 9%4(66*,) %1 /5(/(,.*%,(&. 9+>(. /5( 9%4(6 36%.(./ /% /5( &(+6 )(%9(/&0= N%& /5( &(3%*6 +,+60.*. /5( &*)5//(,.*%, +,4 6*1/ ;8 +1/(& 4*.3%,,(3/*%, +&( %1 9%./ *98%&/+,3(= a(+9 (6(9(,/. '*/5%;/8*8( *, 8*8( 3%,/+3/. '(&( +..;9(4 .;11*3*(,/= "5( +6&(+40 3%986(< 9%4(6 )(/. + 6*//6(?*/ .*986(& +,4 /5( 1%&3(. ?(/'((, 306*,4(& +,4 &%4 '(&( ,%/ +, %?A(3/*-( %1 /5*. /5(.*.=

N1< 9.- -04/"#'>& #+#BI4041"5(&( +&( + 6%/ %1 ;,3(&/+*,/*(. 3%,,(3/(4 '*/5 /5( 9;4 4*.35+&)( +,+60.*.= C/ *. +3%986(< 16;*4 9(35+,*3+6 8&%?6(9= @,4 /5( 3+63;6+/*%, 4%,( *, :@"I@a *. + -(&0.*986*1*(4 .%6;/*%, '5(&( !('/%,t. .(3%,4 6+' *. +886*(4 /% /5( 9;4 3%6;9, +. + &*)*4?%40= "5( 3+63;6+/*%,. ;.(4 40,+9*3+6 (R;*6*?&*;9 ?(/'((, 9;4 '(*)5/D 504&%./+/*38&(..;&( 4*11(&(,3(D 1&*3/*%,+6 1%&3(. S?%/5 1&%9 9;4 +,4 '+/(&V +,4 /5( 9+.. +,4+33(6(&+/*%, %1 /5( .0./(9=

J&%1(..%& U+&6 := I+&.(, *,1%&9(4 /5+/ /5(&( 5+4 ?((, (<8(&*9(,/+6 /(./. %, /5*.D '5(&(

/5(0 3%;64 ,%/ (./+?6*.5 + 9%4(6 (<86+*,*,) /5( 40,+9*3. %1 /5( .*/;+/*%,=

N1E LB.> A,-&B #+- A#44 B,441

"5( .6;) 6%+4 *, GCNIOP 8&%-(4 /% ?( ;,+?6( /% 9%4(6 /5( 9+.. 6%.. *, /5( &*.(&= `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

mGCNIOP ;.(& 9+,;+6n )*-(. /5*. &(./&*3/*%,. +,4 +..;98/*%,. 1%& /5( .6;) 1%&3(H

!" $%&' ()*+, +-%+&%-./)01T8'4 60(0 +)*2> '4 *-/S +';,- :*) K&?K&TZ" E60(0 +)*2> a%#=GX 0-6 4/2+ :*)1,4 10- *-/S L, 4>,1':',6 :*) 4'-+/, )'4,)4#



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kc

!"23 4-.- '*)&5 /6,0./(/,*7 )0, /05&. %/0,P,4()'1('*-4%# 7/2+ :/*B 0>>/',4 :*) 4(0-60)6 4S4(,34 *-/S "# T8, 30'- )'4,) /'-, 804 (* L, 3*6,//,6 LS L,03 ,/,3,-(4<# Q*-4'4(,-( :*)32/0('*- EO23>,6 3044 *>('*- '4 >)*8'L'(,6G

D4423>('*-4%# T8, (*(0/ 4/2+ 3044 '4 1*-4(0-(X 8$ # K-'('0/ /,-+(8 '4 9$: # "# T8, 4>,1':',6 ;,/*1'(S ),:,)4 (* (8, +)0;'(S 1,-(), *: (8, 4/2+X '-'('0//S 0( (8, 80/: /,-+(8#<# T8, 4/2+ 4>,1':'10('*- '4 42>,)'3>*4,6 *- (8, )'4,) 3044X '-1/26'-+ 0-S '-(,)-0/ :/2'6 :/*B#=# T8, '-(,)-0/ 1)*4494,1('*- 0),0 '4 -*( 24,6 '- (8, 4/2+ 3*6,//'-+$# T8, 4/2+ /,-+(8 '4 6';'6,6 '-(* 4,1('*-4# K-'('0//S (8, 4,1('*-4 0), *: ,b20/ /,-+(8 6%$7:# T8,

6,-4'(SX E3044 >,) 2-'( /,-+(8G '4 1*-4(0-( B'(8'- ,018 4,1('*-# K-'('0//S (8, 3044 >,) 2-'(/,-+(8 '4 ;:<8$=9$:

$/0'%, */1,*17D9 7,0:/**) (* 42):01, ;,44,/# M-, >*'-( 4,0:/**) 1*-(01(# T8, 7(,,> _0;,X 7(,,> 7 0-6 c23>,)

:/,C'L/, )'4,) 1*-:'+2)0('*-4 0), 4>,1'0/ 104,4 *: (8, 7D 4S4(,3#7I9 7,0:/**) (* 42):01, ;,44,/# 7,0:/**) (0-+,-( 0-6.*) 066'('*-0/ 4,0:/**) 0((0183,-( >*'-(#

T8, O0dS _0;, 0-6 O0dS 7 :/,C'L/, )'4,) 1*-:'+2)0('*-4 0), 4>,1'0/ 104,4 *: (8, 7I 4S4(,3#T8, 7I 4S4(,3 '4 0/4* 1*-;,-',-( :*) 3*6,//'-+ *: 0-18*) /'-,4 B'(8 4,09 :/**) 1*-(01( 0(/*B,) ,-6#

7Q9 F),, /*B,) ,-6# P'4,) 62)'-+ '-4(0//0('*- ,(1#7?9 F),, 2>>,) ,-6# I2*S,6 )'4,)X /*06'-+ 4S4(,3X ,(1#

7+/+ )&%;8 OM=h 9(+,. /5+/ /5( .6;) *. %,60 +-+*6+?6( 1%& ,%,B6*,(+& +,+60.*. +,4 .*,)6(&*.(&.= "5*. *. /5( 3+.( %1 + &(3%*6 +,+60.*.=

G(./&*3/*%, M 6*9*/. /5( .6;) 1%&3( 9%4(6 /% /5( ./+,4+&4 .0./(9. %1 GCNIOP= "5(.(./+,4+&4 .0./(9. 4%(. ,%/ *,36;4( +66 9%4(66*,) (6(9(,/. *, GCNIOPD 1%& (<+986( 9+./(&f .6+-( &(6+/*%,.5*8 +,4 8*8( *, 8*8( (6(9(,/. +&( %,60 +-+*6+?6( *, /5( +&?*/&+&0 .0./(9D+,4 /5;. /5( @G .0./(9 *. /5( 8&(1(&&(4 1%& 9%4(66*,) + 4&*66*,) &*.(&= "5( .6;) 9%4(6 3+,?( ;.(4 *, +, @G .0./(9 *1 + 9+*, &*.(& 6*,( 3%,1*);&+/*%, *. 4(1*,(4= #.*,) + 9+*, &*.(&6*,( '*66 %-(&'&*/( /5( 4+/+ 1%& +,0 )*-(, 16;*4 .8(3*1*3+/*%, *, /5( &*.(& mGCNIOP ;.(&

9+,;+6n= :0 9%4(6 ;.(. + 4%;?6( .;8(& ,%4( ?(/'((, /5( abJ +,4 I:GJ '*/5 9+./(& f.6+-( &(6+/*%,.5*8 1%& /5( 4*.3%,,(3/*%,= "5( 9+*, &*.(& 6*,( 3%,1*);&+/*%, 4%(. ,%/+33(8/ 6*,(. ./+&/*,) +,4 (,4*,) *, 4*11(&(,/ ,%4(.= @, +6/(&,+/( 9%4(6 '*/5 1*<(4 I:GJ'%;64 ?( ,((4(4 /% 9+>( /5( 4*.3%,,(3/*%,D ?;/ /5(, /5( 1%&3(. ?(1%&( /5(4*.3%,,(3/*%, 8%*,/ +&( ,%/ /&+,.1(&&(4 /% /5( abJ=

G(./&*3/*%,. K +,4 X 3+, (+.*60 ?( 9(/D ?;/ 8%.(. .%9( 35+,)(. /% /5( 9%4(66*,) %16;98(4 9+.. +. /5( &*.(& /(,.*%,(& &*,)D +,4 9+.. +?%-( /5( /(6(.3%8*3 A%*,/= a;/ *, /5((,4 /5( .6;) 9%4(6 4%(. ,%/ '%&> 1%& /5( 3%986(< 9%4(6= 7;&*,) /5( +,+60.*. /5( .6;)9%4(6 3+, 1%%6 0%;D ?(3+;.( ?0 .(//*,) ;8 /5( 9+*, &*.(& 6*,( 3%&&(3/60D /5( .6;) 6%+4 )(/.+33(8/(4 +,4 /5( 40,+9*3+6 3+63;6+/*%, *. 3%986(/(4 '*/5%;/ (&&%& 9(..+)(.= C/ 6%%>.



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kk

6*>( /5( .6;) 6%+4 *. *,36;4(4 1&%9 &(+4*,) /5( 40,9%4=&(. 1*6(D ?;/ */ 5+. ,% (11(3/ %, /5(&(.;6/.= *=(= /5( 5*)5 4(,.*/0 9;4 *. ./*66 *, /5( &*.(& +,4 /5(&( *. ,% 35+,)( %1 '(*)5/ *,

/5( .0./(9= "5+/ /5(&( *. ,% (11(3/ %1 /5( .6;) 6%+4 3+, ?( 4*11*3;6/ /% ,%/*3( *, /5( *,./+,/+1/(& 4*.3%,,(3/*%, '5(, /5(&( +&( + 6%/ %1 1%&3(. +3/*,) .*9;6/+,(%;.60= "5( (11(3/3%9(. +88+&(,/ *, /5( 5+,) %11 9%4( +,+60.*.=

b,( .*986( 9%4(6 '+. 9+4( 4;&*,) /5( /(./*,) +,4 /&%;?6( .5%%/*,) %1 /5( .6;) 6%+4= C/3%,.*./. %1 %,( 6*,( 1&%9 .(+ ?%//%9 /% .;&1+3( +,4 %,( /(,.*%,(& (6(9(,/ 3%,,(3/(4'*/5 + 9+./(& .6+-(& &(6+/*%,= Z(&( /5( .6;) 9%4(6 8&%-(4 /% '%&> +,4 )+-( + 6*,(+&4(3&(+.( %1 /(,.*%, *, /5( .0./(9 +. /5( .6;) (,/(&(4=

N1H Z#B0-#%0,+ ,@ '&4.B%4 50%",.% 4B.> B,#-

"5(&( '(&( +6&(+40 ;,3(&/+*,/*(. /% /5( .6;) 9%4(6 +,4 %, 5%' '(66 /5*. E+6/(&,+/*-(;.(F %1 + 9%4(66*,) /%%6 &(86*3+/(4 /5( &(+6 .*/;+/*%,= "5( .6;) )%(. *,/% /5( ?%//%9 %1 /5(&*.(&D 35+,)*,) /5( 9+.. 1&%9 /5( ?%//%9 /% /5( /%8= C, /5( &(+6 4*.35+&)( /5( 9+.. *.35+,)(4 1&%9 /%8 /% ?%//%9D +,4 *, /5*. /&+,.*(,/ '*,4%' /5( .6;) *. ,%/ 4%(. ,%/&(86*3+/( /5( 850.*3. '(66D ?;/ '*66 ,%/ +11(3/ /5( &(3%*6 ?0 9;35=

@. ./+/(4D /5( -+6*4*/0 +,4 +33;&+30 %1 /5( &(.;6/. +&( 3%&&(6+/(4 /% 5%' '(66 /5( +3/;+6850.*3. 3+, ?( &(8&%4;3(4 *, GCNIOP= @. /5( I:GJ *. 4*.3%,,(3/(4 */ '*66 &(3%*6;8'+&4.D 1*&./60 4;( /% %-(& 8;66 +/ /5( 3%,,(3/%& 4;( /% 8%.*/*-( /(,.*%, -+6;(. *, /5(&+,)( XLLB kLL>!= 2/;40*,) /5( ?(5+-*%;& %& /5( &*.(& +1/(& 4*.3%,,(3/*%, 9(+,. /%6%%> +/ + &(6+/*-( .5%&/ /*9( *,/(&-+6= "5( /*9( 1&%9 4*.3%,,(3/*%, /% /5( /(,.*%,(&. +&(3%986(/(60 &(/&+3/(4 +&( *, /5( -*3*,*/0 %1 c .(3%,4.= "5( 9+.. 6%.. *. + .6%' 35+,)( *,9+.. *, /5( &*.(&D +,4 + &(6+/*-( 6*,(+& 8&%3(..= "5( 8&%3(.. /+>(. +&%;,4 XL .(3%,4. 1%&/5( cLL 9 9%4(6D '*/5 + 9;4 4(,.*/0 %1 MkLL >)Q9 X= "5( &*.(& 9+.. '*66 ?( &(4;3(4'*/5 ch LcL>) +1/(& /5( 4*.35+&)(= "5*. 9+.. &(8&(.(,/. + '(*)5/ %1 cXL >! 6(+-*,) /5(.0./(9 '5*35 *. *, /5( .+9( %&4(& %1 9+),*/;4( +. /5( /(,.*%, +/ /5( I:GJ 3%,,(3/%&="5*. '*66 9%./ 6*>(60 6(+-( /5( /(,.*%,(&. 3%986(/(60 &(/&+3/(4 S'*66 %1 3%;&.( ?( 3+.(4(8(,4+,/ %, 9;4 '(*)5/D /(,.*%,(& -+&*+/*%, +,4 ?;%0+,30 %1 &*.(&V= b,( 3+, .(( /5+//5( 9+.. 6%.. '*66 /5(, 86+0 + 3&;3*+6 &%6( %, /5( 40,+9*3. %1 /5( &*.(&D 3%;,/*,) 1&%9 MLf Mc .(3%,4. +1/(& /5( 4*.3%,,(3/*%,= @1/(& /5( &(3%*6 *. 1*,*.5(4 */ )%(. %-(& /% 5+,)1&((60 1&%9 /5( /(,.*%,(&.D /5*. *. 3+66(4 .%1/ 5+,) %11 9%4(= `*/5%;/ 9%4(66*,) /5( 9+..6%.. /5( 40,+9*3. 5(&( '*66 ?( 3%986(/(60 '&%,)= @, +6/(&,+/*-( '+0 /% 9%4(6 /5( 9+..6%.. *. ,((4(4 *1 GCNIOP *. /% ?( ;.(4 1%& + &(3%*6 +,+60.*. *,36;4*,) /5( 5+,) %11 +1/(&4*.3%,,(3/*%,=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kY

N1N

QB%&'+#%03& A,-&BB0+> ,@ A#44 B,44

@, +6/(&,+/*-( '+0 *. ,((4(4 /% 9%4(6 /5( 9+.. 6%.. %1 /5( &*.(& *1 %,( '+,/. /% 5+-(+33;&+/( &(.;6/. 1%& /5( 5+,) %11 +1/(& 4*.3%,,(3/*%,= #,1%&/;,+/(60 /5(&( *. ,% (+.0 '+0/% 4% /5*.=

Z+,) %11 9%4( %,60H b,( 3+, .(/ ;8 /5( &*.(& '*/5 .(+'+/(& +,4 &;, + .(8+&+/( 5+,) %11+,+60.*.=

G;,,*,) GCNIOP '*/5%;/ /5( 2C:@ ;.(& *,/(&1+3(H C, ?+/35 9%4( %1 GCNIOP /5(&( *.8%..*?6( /% &(+4 16%' 4+/+ 1&%9 + 1*6(D +,4 5(&( /5( 4(,.*/0 *. *,36;4(4D %,( 3+, /5(,35+,)( /5( 4(,.*/0 /5&%;)5%;/ /5( 1*6( +,4 &(8&%4;3( /5( 9+.. 6%..= @9;,4.(, *,1%&9./5+/ /5(&( *. 6*9*/(4 +33(.. /% /5*. %8/*%, +,4 */ *. ,%/ *986(9(,/(4 /% 2C:@ GCNIOP=

#.(& 4(1*,(4 1%&3(.H 3+, ?( ;.(4 /% )*-( /5( &*.(& 1*&./ + 6*,(+& 6*1/ +,4 /5(, + 3%,./+,/ 6*1/1%&3( /5+/ (R;+6. /5( '(*)5/ 6%.. *, /5( &*.(&= "5( ;.(&B4(1*,(4 1%&3(. +&( .+-(4 /% /5(,%4(. *1 /5( )6%?+6 3%%&4*,+/( .0./(9 *. ;.(4= "5( 9+.. +,4 1%&3( &(8&(.(,/*,) 9+.. 6%..'*66 /5(, ?( .+-(4 /% /5( .+9( ,%4(.D ?;/ *, 4*11(&(,/ 9+/&*3(.= "5( 1%&3( &(8&(.(,/*,)/5( 9+.. 6%.. '*66 8&%-*4( /5( .+9( 6*1/ ;8 %1 /5( &*.(& +. /5( &(+6 9+.. 6%..D ?;/ /5( 9+..

*. /(35,*3+6 ./*66 /5( .+9(= "5( 6*1/ ;8 1%&3( '*66 >((8 /5( /(,.*%,(&. 36%.( /% 3%986(/(60&(/&+3/(4 +,4 '*66 5+-( 6+&)( 4+98*,) 1%& /5( 9%-(9(,/. 4;( /% /5( 9%4(66(4 +,/* &(3%*6.0./(9=

N1[ *+@B.&+/& ,@ A#44"5( +6/(&,+/*-( 40,+9*3+6 ,%4+6 1%&3( 9+.. 6%.. )+-( -(&0 )%%4 &(.;6/. *, U5+8/(& c=MD'(&( + &*.(& 3%,/+*,*,) .(+'+/(& '+. /(./(4 +)+*,./ /5( 9%4(66(4 9+.. 6%..=

U+63;6+/*,) /5( ,+/;&+6 +<*+6 8(&*%4 1%& /5( &*.(& .0./(9 8&%-*4(. +, +,.'(& /% 5%'9;35 9+.. 6%.. +11(3/. /5( 4*11(&(,/ 40,+9*3.=

!+/;&+6 O*)(,8(&*%4 *, +<*+6 4*&(3/*%,H

! ! !

! !

!

! ! !

OR= k=M

`5(&( > *. /5( .8&*,) ./*11,(.. S/(,.*%,(& ./*11,(..D &*.(& *. 6%%>(4 +/ +. &*)*4VD : *. 9+..+,4 @ *. +44(4 9+..= @44(4 9+.. *, +<*+6 4*&(3/*%, 1%& /5( &*.(& '*66 ?( -(&0 6%'D 9%./603%9*,) 1&%9 /5( I:GJ ./&;3/;&( +,4 .%9( ?;%0+,30 (6(9(,/. +,4 *. +..;9(4 /% ?(%,60 cw %1 /5( 9+..= "5( .8&*,) ./*11,(.. '*66 -+&0 '*/5 /5( /(,.*%,(& 8&(..;&( .(//*,)

+,4 /5( 8%.*/*%, %1 /5( 8*./%, S/(,.*%, -+&*+/*%,. +&( 8&(.(,/(4 *, 35+8/(& h=XV=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

ki

28&*,) ./*11,(.. > :+.. '*/5 9;4iLL /%,,(.

:+.. '*/5.(+'+/(& YhX

:+.. (98/0kcL /%,,(.

kk >!Q9S&(/&+3/(4V

" L q KM=iY. "L q KM=Li. "L q Ml=Y.

Yi >!Q9 9*48%.*/*%,

" L q KL=MK. "L q Ml=h. " L q Mi=Mh.

@KQ8& T,3 c BK-5)K8 Kf0K8 %&)0$6/ '$) V22L )0/&) L$6&8

28&*,) ./*11,(.. > :+.. '*/5 9;4

KLXk /%,,(.

:+.. '*/5

.(+'+/(& MiYh

:+.. (98/0

Mcic /%,,(.Mck >!Q9S&(/&+3/(4V

" L q KK=Y "L q KM=YY. "L q KL=L.

Mli >!Q9 9*48%.*/*%,

" L q KL=Mh. "L q Ml=XX. "L q MY=i.

@KQ8& T,1 c BK-5)K8 Kf0K8 %&)0$6/ '$) 3V22L )0/&) L$6&8

"5(.( 3+63;6+/*%,. .5%' -(&0 6*//6( 4*11(&(,3( *, /5( ,+/;&+6 +<*+6 8(&*%4 1%& /5( &*.(&9%4(6 '*/5 9;4 %& .(+'+/(& *,.*4(= Z%'(-(&D +, *,3&(+.( *, '(*)5/ *, /5( .0./(9 '*669+>( /5( ,+/;&+6 8(&*%4 1;&/5(& +'+0 1&%9 /5( '+-( .8(3/&(= "5( 4+98*,) -+6;(. +&(

,%/ *,36;4(4 5(&(D +,4 '*66 9+>( /5( 8(&*%4. .%9('5+/ 6+&)(&= O.8(3*+660 1%& /5(&(/&+3/(4 8%.*/*%, 4;( /% 5*)5 4+98*,)=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

kl

C0N5)& T,3 <&)-0#K8 L$<&L&;- $' -.& -&;/0$;&)/_ Q85& )&%)&/&;- )0/&) (0-. L56_ )&6 0/ -.& &L%-M )0/&)

C, /5( 1*);&( /5( -(&/*3+6 9%-(9(,/ %1 /5( 6%'(./ 8+&/ %1 /5( /(,.*%,(&. *. .5%',= @ &*.(&

1*66(4 '*/5 9;4 +,4 +, (98/0 &*.(&= "5( /(,.*%, *. /;,(4 /% )*-( /5( .+9( &(.;6/*,)/(,.*%, +/ /5( I:GJ 3%,,(3/%& SXLL>!V= "5( ./*11,(.. %1 /5( .0./(9 *. >(8/ /5( .+9(D'5*35 9(+,. /5+/ /5( ./*11,(.. /5+/ *. .(/ 1%& /5( (98/0 &*.(& *. 5*)5(& /5+, /5( .0./(9'%;64 ?( +/ /5( +3/;+6 8&(..;&( .(//*,)= "5( 40,+9*3. *, +<*+6 4*&(3/*%, *. ,%/ )&(+/60+11(3/(4 ?0 /5( 4(,.*/0 %1 16;*4 *,.*4( *, /5*. 3+.(D (<3(8/ 1&%9 /5( -(&/*3+6 9(+, 8%.*/*%,1&%9 /5( 9+.. 6%..=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

YL

C0N5)& T,1 R$)0i$;-K8 L$<&L&;- '$) -$% $' Q5$MK;#M &8&L&;- OcT2LP '$) )0/&) (0-. L56_ /&K(K-&) K;6 &L%-M_Q85&_ )&6_ N)&&;,

"5( 4*11(&(,3( *, &(.8%,.( *, &+4*+6 4*&(3/*%,D /5( (98/0 &*.(& 5+. )(,(&+660 9%&(&(.8%,.(D ?;/ -+&*(. '*/5 /5( 4*11(&(,/ '+-(.= N%& /5( '+-( +/ hLBcL .(3%,4.D /5( &*.(&'*/5 9;4 5+. /5( 6+&)(./ +986*/;4(= "5( 8%*,/ %1 *,/(&(./ '+. 35%.(, /% %?/+*, .%9(4*./+,3( 1&%9 /5( -(..(6D ?;/ ./+0 *, /5( +&(+ '5(&( /5( '+-(. +&( +3/*,)= "5( &(.;6/..5%'. /5+/ /5( 9+.. +11(3/. /5( &+4*+6 &(.8%,.(=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

YM

!"#$%&' [ !,+/B.40,+

"5( (9(&)(,30 4*.3%,,(3/*%, %1 + 9+&*,( 4&*66*,) &*.(& +,4 &*.(& &(3%*6 *. + 3%986(<40,+9*3+6 &(+3/*%,= @ /(,.*%,(4 &*.(& *. &(6(+.(4 *, /5( 6%'(& (,4D +,4 + 1%&3( ;,?+6+,3('*66 %33;&= "5( (6+./*3 (,(&)0 *, /5( &*.(&D /5( ;,?+6+,3(4 1%&3( 1&%9 /5( /(,.*%,(&.D 9;44*.35+&)*,) 1&%9 /5( %8(, 6%'(& (,4D 9%-(9(,/ %1 /5( -(..(6 +,4 /5( &(.8%,.( +,44+98*,) %1 /5( /(,.*%,(& .0./(9 '*66 +66 *,16;(,3( /5( 40,+9*3. %1 /5( &*.(& +1/(&4*.3%,,(3/*,)=

N*,+6 (6(9(,/ 9(/5%4 .%1/'+&( 5+. /% ?( +?6( /% 3+8/;&( +66 /5(.( 850.*3+6 (11(3/. /%8(&1%&9 + &*.(& &(3%*6 +,+60.*. '*/5 )%%4 &(.;6/.= 2C:@ GCNIOP %11(&. ,% 4*&(3/ 9%4(66*,)%8/*%,. 1%& 504&+;6*3 .0./(9. %& 16%' %;/ 1&%9 +, %8(, (,4= "5(.( (11(3/. '*66 /5(,&(R;*&( .*986*1*3+/*%,. +,4 +, +6/(&,+/*-( 9%4(66*,) 9(/5%4=

"(,.*%,(&. 3+, ?( 9%4(66(4 *, GCNIOP '*/5 + .8(3*1*(4 /(,.*%,B(6%,)+/*%, 3;&-( +,44+98*,) -+6;(. +. + 1;,3/*%, %1 ./&+*, &+/(= "5( 4+98*,) 3%9(. 1&%9 1&*3/*%, *, /5(504&+;6*3 %*6 .;8860 /% /5( /(,.*%,(&. +,4 )&+4;+660 36%.(4 -+6-(. '5(, /5( &*.(& *.4*.3%,,(3/(4= Z*)5 4+98*,) -+6;(. +&( ;.(4 '5(, /5( /(,.*%,(& &(/&+3/. /% .*9;6+/( /5(36%.;&( 3;&-( *, /5( +,/* &(3%*6 .0./(9=

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

3%98&(..*%, *, /5( &*.(& /5+, /5( &(+6 .*/;+/*%,= @ 3+.( ./;40 .5%'(4 %,60 .9+664*11(&(,3(. *, 40,+9*3 &(.8%,.( 1%& /5( &*.(& '*/5 9;4 +,4 +, E(98/0F &*.(& *, +<*+64*&(3/*%,=

"'% 9%4(6. '(&( 4(-(6%8(4 1%& &(3%*6 +,+60.*. *, 2C:@ GCNIOP= b,( 9%4(6 1%& + '+/(&4(8/5 %1 cLL 9(/(&D .*9;6+/*,) 3%66*.*%, ?(/'((, /5( I:GJ +,4 /5( abJ ?04*.3%,,(3/*,) '5(, /5( -(..(6 *. 9%-*,) 4%', 1&%9 + 6+&)( '+-( /%8= "5( .(3%,4 9%4(6.*9;6+/(. /5( 4&*1/B%11 .3(,+&*% +/ McLL 9(/(&. '+/(& 4(8/5= "5( &(.;6/. +&( .%9('5+/;,3(&/+*, 4;( /% 4*11*3;6/*(. +&%;,4 /5( 9;4 4*.35+&)( 8&%?6(9=

2C:@ GCNIOP *. ,%/ +, %8/*9+6 .%1/'+&( 8+3>+)( 1%& &(3%*6 +,+60.*.= :%4(66*,) %8/*%,.1%& 35+,)*,) /5( 16;*4 *,.*4( /5( &*.(& *. ,((4(4 *, 40,+9*3 3+63;6+/*%, /% .*9;6+/( /5(



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

YK

9+.. 6%..= @ 3%;86(4 +,+60.*. '*/5 .%1/'+&( .;35 +. 2*9;6+/*%,P '*66 8&%-*4( + ?(//(&1%&3( -+&*+/*%,D 4+98*,) -+6;(. +,4 +,/* &(3%*6 .0./(9 9%4(66*,)= @,4 1%& /5*. */ .((9.

/5+/ b&3+16(< *. /5( 8&(1(&&(4 .%1/'+&( ;.(4 *, /5( *,4;./&0 mMYn=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

YX

!"#$%&' \ F.'%"&' 5,'6

"5( &(.;6/. *, /5*. /5(.*. +&( .%9('5+/ ;,/*40= "5( 40,+9*3. 5+88(,*,) +/ /5( &(3%*6'(&( ,%/ 1;660 ;,4(&./%%4D +,4 &(.;6/(4 *, .%9( 4*11(&(,3(. 1%& (+35 9%4(6= C/ '+.4*.3%-(&(4 /% 6+/(D +,4 ,%/ (,%;)5 /*9( '+. +-+*6+?6( /% E36(+,F */ ;8= Z(68 +,4 );*4+,3(1&%9 .%9(%,( '%&>*,) '*/5 &(3%*6 +,+60.*. .5%;64 5+-( ?((, +3R;*&(4 /% 36(+& ;8 /5(4*11(&(,/ /5(%&*(.= `5(, +66 /5( 3%,1;.*%, '+. 36(+&(4D /5( 4*11(&(,/ &(3%*6 +,+60.*..5%;64 5+-( ?((, 8(&1%&9(4 +)+*,= "5*. '%;64 )*-( 36(+&(& +,4 9%&( 3%*,3*4*,) &(.;6/.=

"5( 9;4 4*.35+&)( 8&%?6(9 *. + '(+> 8%*,/ %1 /5*. /5(.*.= "5*. *. + 3%986(< 16%'8&%?6(9 '5(&( + 16;*4 16%' .%1/'+&( %& UN7 +,+60.*. .5%;64 5+-( ?((, 8(&1%&9(4= "5*.'%;64 5+-( 8&%-*4(4 + ?(//(& ;,4(&./+,4*,) %1 /5( 1%&3(. +,4 5%' /5(0 +&( +3/*,)=

J(&1%&9 + &(3%*6 +,+60.*. *, +,%/5(& .6(,4(& 9+&*,( ./&;3/;&( NO: 8&%)&+9 .;35 +.b&3+16(< /% )(/ + 3%98+&*.%, %1 &(.;6/. +,4 9%4(66*,) %8/*%,.=



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

Yh

!"#$%&' _ C&@&'&+/&4m@JC Mkon @9(&*3+, J(/&%6(;9 C,./*/;/( EG(3%99(,4(4 8&+3/*3( 1%& 4(.*),D .(6(3/*%,D %8(&+/*,)D+,4 9+*,/(,+,3( %1 9+&*,( 4&*66*,) &*.(& .0./(9F @JC MkoD `+.5*,)/%,D 7U KLLMm7%685*, 7&*66*,)D KLMXn 7%685*, 4&*66*,) *,/(&,+6 4%3;9(,/.D 2/+-+,)(& KLMXmU5+>&+?+&/*D KLLcn 2=[=U5+>&+?+&/* EZ+,4?%%> %1 b11.5%&( O,)*,((&*,) T%6;9( KF b11.5%&(2/&;3/;&( @,+60.*. C,3= C66*,%*.D #2@D KLLcm7!TD KLMLn 7!T f G(3%99(,4(4 8&+3/*3( 7!TBGJBUKLcD O-*&%9(,/+6 3%,4*/*%,. +,4(,-*&%,9(,/+6 6%+4.D b3/%?(& KLML=m]&%,(-*>D KLMKn @&*64 ]&%,(-*> E2*9;6+/*%, %1 4&*66*,) &*.(& 4*.3%,,(3/*%, f &(3%*6 +,+60.*.F!"!#D *,./*/;/( 1%& 9+&*,( /(35,%6%)0D "&%,45(*9 KLMK

m]&0/%0& (/ +6= KLMMn ]=]&0/%0&D J=25+&9+D 2=T*.5,;?%/6+ F:+&*,( 4&*66*,) &*.(& 4*.3%,,(3/ +,4&(3%*6 +,+60.*.F @@7OBMMB!"UOBiLD Z%;./%, KLMMm[+-+,+)5 (/ +6= KLLKn [=[+-+,+)5D:=7*?DO=a+635DJ=2/+,/%, F!(' &(-*.*%, %1 4&*66*,) &*.(&&(3%99(,4(4 8&+3/*3(F b"U MhKkXD Z%;./%, KLLK=m:*66(&D Mllin W=O=:*66(&D :=W=2/+56DU=W=:+/*3( FG*.(& 3%66+8.( J&(..;&( G(.;6/*,) 1&%9 &(6(+.( %17((8'+/(& :;4 U%6;9,.F b"U iicXm!);0(, (/ +6= KLLkn U= !);0(,D G= "5(/5*D N= I*9D KZ %11.5%&( E2/%&9B2+1( 4((8'+/(& 4&*66*,)FC@7UQ2JO MLXXXi KLLkmGCNIOP ;.(& 9+,;+6n GCNIOP ;.(& 9+,;+6_XY_&(-cm2/(,D KLMKn G%,,0 2/(, C:"BKLMKBiLD "&%,45(*9D KLMKm`(./ O,)*,((&*,) .(&-*3(. C,3= KLLXn `(./ O,)*,((&*,) .(&-*3(. *,3= EO-+6;+/*%, %1 .(3%,4+&0*,/(&-(,/*%, 9(/5%4. *, '(66 3%,/&%6F KLLX

m`5*/(D KLLin N&+,> := `5*/( f N6;*49(35+,3*. .*</5 (4*/*%,mj*,D KLMXn 7(3+% j*, E2*9;6+/*%, %1 :+&*,( G*.(& 7*.3%,,(3/ +,4 G(3%*6FD /&*+6 6(3/;&(8&(.(,/+/*%,D UO2b2D !"!#D "&%,45(*9 KLMXmj%;,) (/ +6= MllKn G=7 j%;,)D U=W Z%3>D]=[+&6.(,DW=O=:*66(&DF@,+60.*. +,4 4(.*), %1 +,/* &(3%*6.0./(9 1%& (9(&)(,30 4*.3%%,(3 %1 + 4((8'+/(& G*.(&F b"UkilMD Z%;./%,D MllK

mMLn 5//8HQQ'''=0%;/;?(=3%9Q'+/35y-q>ao4"-Y?.8:z1(+/;&(q&(6+/(4 mMMn 5//8HQQ'''=0%;/;?(=3%9Q'+/35y-q\O_;ZRXk7I#z1(+/;&(q&(6+/(4mMKn 5//8HQQ'''=4((8'+/(&=3%9Q_1*6(6*?QN*6(U+?*,(/Q841.QLi_"G@!2bUO@!_U5_XBh=841mMXn 5//8HQQ '''=(-(&)&((,B9+&*/*9(=3%9mMhn 5//8HQQ'''=4&*6BR;*8=3%9QmMcn5//8HQQ8(/&%'*>*=.8(=%&)Q:b7#_&*.(&_+,4_9%%&*,)_.0./(9. mMkn 5//8HQQ'''=4%685*,4&*66*,)=,%Q16((/mMYn U+./%& 4&*66*,) .%6;/*%, B '''=34.=+.



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

M

!"#$%&' )^ Q$$&+-0G%----------------------------------------------------------- % Recoil analysis of drilling riser% - % Master thesis by Arild Gr¯nevik % % script - muddischarge.m %---------------------------------------------------------- % % Description: % Calculates muddischarge velocity and frictional % forces acting on the riser as the drilling mud flows % out of the riser at the LMRP. Results are input for % the recoil analysis in Riflex

%---------------------------------------------------------- clear all clc

% Riser input data %---------------------------------------------------------- L = 500 ; %Water depth D = 0.489 ; %internal diameter e = 5e-5; %roughness parameter g = 9.81 ; %gravity rho_sw = 1025; %density sea water rho_mud = 1600 ; %density drilling mud v_mud = 1e-4 ; %viscosity mud (typical values: 3-30cP) v_sw = 1.15e-6 ; %viscosity seawatered = e/D ; %relativ roughness

area = pi*D^2/4 ; %internal area of riser M_mud = rho_mud*area; %mass per unit length of mud M_sw = rho_sw*area ; %mass per unit length of seawater

%---------------------------------------------------------------------- % Dynamical equilibrium between mass, frictional forces, and% hydrostatic pressure.%----------------------------------------------------------------------

%initial values timestep = 0.05;i=2;vel(1,1)=0;time(1,1)=timestep;acc(1,1)=0;L(1,1) = L;

%loop acting while there is mud in the riser while L(i-1,1) > 0

time(i,1) = timestep*i ;

%velocity of discharge vel(i,1) = vel(i-1,1) + acc(i-1,1)*timestep ;

%length of mud and water column L(i,1) = L(i-1,1) - vel(i-1,1)*timestep ;L_water(i,1) = L(1,1) - L(i,1) ;

%friction coefficient for mud and seawater Re_mud(i,1) = vel(i,1)*D/v_mud ;haaland_mud = -1.8*log10(6.9/Re_mud(i,1) + (ed/3.7)^1.11);



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

K

f_mud(i,1)=1/(haaland_mud^2);

Re_sw(i,1) = vel(i,1)*D/v_sw ;haaland_sw = -1.8*log10(6.9/Re_sw(i,1) + (ed/3.7)^1.11);f_sw(i,1)=1/(haaland_sw^2);

%hydrostatic pressure and pressure drop due to friction p_hydro(i,1) = (rho_mud-rho_sw)*g*L(i,1) ;p_mudfriction(i,1) = f_mud(i,1)*L(i,1)/D*vel(i,1)^2*rho_mud /2 ;p_waterfriction(i,1) = f_sw(i,1)*L_water(i,1)/D*vel(i,1)^2*rho_sw /2 ;p_friction(i,1) = p_mudfriction(i,1) + p_waterfriction(i,1) ;

%Gravity force on mud column G(i,1) = (rho_mud-rho_sw)*g*L(i,1)*area ;

%Newtons second law sum_forces(i,1) = p_hydro(i,1)*area + G(i,1) - p_mudfriction(i,1)*area -

p_waterfriction(i,1)*area ;

acc(i,1) = sum_forces(i,1) / ( (M_mud*L(i,1)) + M_sw*L_water(i,1) );%resulting total friction force working on riser f_friction(i,1)= (p_mudfriction(i,1) + p_waterfriction(i,1) ) *area/ L(1,1) ;

i = i+1 ;end

time_discharge = max(time)

figure(1)plot(time,vel) ;xlabel( 'time [s]' )ylabel( 'velocity [m/s]' )title( 'Mud discharge velocity' )

figure(2)plot(time,p_friction) ;xlabel( 'time [s]' )ylabel( 'pressure [Pa]' )title( 'Frictional pressure loss' )

figure(3)plot(time,L)xlabel( 'time [s]' )ylabel( 'length [m]' )title( 'Length of mud column' )

figure(4)plot(time,f_friction);

xlabel( 'time' )ylabel( 'friction [N/m]' )title( 'Friction forces working on the riser' )



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

X

%------------------------------------------------------------------ % Recoil analysis of drilling riser% - % Master thesis by Arild Gr¯nevik % % script - w_dyn_force.m %------------------------------------------------------------------ % % Description: % script that write user specified nodal forces to % to a text file. The code is then copied into the relevant % sima_dynmod.inp file.%------------------------------------------------------------------

% Main riser data %------------------------------------------------------------------ n_seg = 3; %number of segments in line

n_elements1 = 40 ; %number of elements in segment n_elements2 = 304 ;n_elements3 = 40 ;n_elementstot = n_elements1 + n_elements2 + n_elements3 ;timeon = 67 ; %disconnection time l_elem = 1.25; %code is currently for elements with equal lengths

%forces divided into working on every n_nodes%total forces (3 each written node) n_nodes=4 ;

%n_forces = n_elementstot/n_nodes*3+3;

%if mass loss included

n_forces = n_elementstot/n_nodes*5+5;

%identifying the maximum force and time for it [f_max,time_max] = findpeaks(f_friction) ;time_max = time_max*timestep ;

%to replicate the force in a best possible way, 1 linear increasing%force, 1 constant force and 1 decreasing linear force starting at %different times are used, force is written in kN %---------------------------------------------------------- p1_up = f_max/time_max*n_nodes*l_elem/1000; %ramp force (linear) timemax = floor(timeon+time_max) ; %time for maximum force timeoff = floor(timeon+time_discharge); %end time p_max = f_max*n_nodes*l_elem/1000; %constant force (max)

p1_down= f_max/(time_discharge-time_max)*l_elem *n_nodes/1000 ;%ramp force, linear decreasing

% printing simplefied mass loss %----------------------------------------------------------------- time_m_max = 35 ;

massloss= (M_mud-M_sw)*L(1,1) ;p1_m_ramp = massloss/L(1,1)*g *n_nodes*l_elem /time_m_max/1000 ;p1_m_const = massloss/L(1,1)*g *n_nodes*l_elem /1000 ;

% Prints to file (inlcuding dummy code) %-------------------------------------------------------------------



!"!#!%&'()*+, #,*-(&.*/0 %1 23*(,3( +,4 "(35,%6%)07(8+&/9(,/ %1 :+&*,( "(35,%6%)0

fid = fopen( 'dynamic_nodal_forces.txt' , 'w+' );fprintf(fid, 'DYNAMIC NODAL FORCES' ) ;fprintf(fid, '\n ''----------------------------- ' ) ;fprintf(fid, '\n ''ndcomp \t cinput \t chfloa ' ) ;fprintf(fid, '\n %i \t NOFILE ' ,n_forces) ;fprintf(fid,[ '\n ''line-id \t ilseg \t ilnod \t ildof \t chicoo ' ...

'\t iforty \t timeon \t timeoff \t p1 \t p2 \t p3 ' ]) ;

ilseg = 1;for j=1:n_seg

if j == 1n_elements = n_elements1 ;

elseif j == 2n_elements = n_elements2 ;

elseif j== 3n_elements = n_elements3 ;

end

for i = 1:n_nodes:n_elementsilseg = j;%printing ramp force fprintf(fid, '\n %s \t %i \t %i \t %i \t %s \t %i \t %f \t %f \t %f\t %i

\t %i' , 'line4' , ilseg, i, 3, 'GLOBAL' , 3, timeon, timemax, -p1_up, 0, 0 );

%printing ramp force mass loss fprintf(fid, '\n %s \t %i \t %i \t %i \t %s \t %i \t %f \t %f \t %f\t %i

\t %i' , 'line4' , ilseg, i, 3, 'GLOBAL' , 3, timeon, (timeon+time_m_max),p1_m_ramp, 0, 0 );

%printing constant force fprintf(fid, '\n %s \t %i \t %i \t %i \t %s \t %i \t %f \t %f \t %f\t %i

\t %i' , 'line4' , ilseg, i, 3, 'GLOBAL' , 1, timemax, timeoff, -p_max, 0, 0) ;%printing constant force mass loss

fprintf(fid, '\n %s \t %i \t %i \t %i \t %s \t %i \t %f \t %f \t %f\t %i\t %i' , 'line4' , ilseg, i, 3, 'GLOBAL' , 1, (timeon+time_m_max), 220,p1_m_const, 0, 0) ;

%printing negative ramp force fprintf(fid, '\n %s \t %i \t %i \t %i \t %s \t %i \t %f \t %f \t %f\t %i

\t %i' , 'line4' , ilseg, i, 3, 'GLOBAL' , 3, timemax, timeoff, p1_down, 0, 0) ;

end end

drilling riser

Documents