La Ciudad Que Tenemos Final

!

!

!

!

!

!"#$%&'"'#(&)#*)+),-.#

/)$/-.0#1)*-.#2#31-3&).*".##

#

'%$%),41)#5667#

!

!

La igualdad a todos los niveles es un objetivo primordial de cuantos

participamos en este proyecto. Los documentos aquí publicados

están libres de lenguaje sexista. Para mejor lectura del mismo se ha

optado por no repetir siempre “los” y “las” y otros similares

tratamientos para referirnos tanto a hombres como mujeres.!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

7'!+#&!

)

+'(3"!$##+8'""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!!#!

,9)-,)&#"'"%7,):)-"0)&'("3'"0"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!!$!

%&'%(!)*!+,!'-./,/!01!02!3.1/4""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!!5!

%&'%(!6*!+,!'-./,/!7!2,!-82,"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)9!

%&'%(!#*!+,!0:4143;,!/0!2,!'-./,/""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!)$!

29)-,)#,-+!,!)!&);+!,):)&-)(&33+("3+""""""""""""""""""""""""""""""""""""""""""""""""!6)!

%&'%(!9*!+,!'-./,/!7!02!30/-4!,3<-01=0""""""""""""""""""""""""""""""""""""""""""""""""""""""""!66!

%&'%(!>*!+,!'-./,/!01!8.8!<,??-48"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!6@!

%&'%(!@*!+,!'-./,/!7!2,!:,2-/,/!/0!A-/,""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!#6!

%&'%(!$*!+,!'-./,/!7!02!3,?""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!#B!

#9)-,)#"';+;&'#+,):)&-)!&0,33"--")!&)-,0)<&30"',0""""""""""""""""""""!9C!

%&'%(!B*!+,!'-./,/!/-A0?8,!7!:43D20E,""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!9)!

%&'%(!5*!+,!'-./,/!7!2,8!:.2=.?,8""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!9>!

%&'%(!)C*!+,!'-./,/!7!02!/08,??4224!F.3,14""""""""""""""""""""""""""""""""""""""""""""""""""!>C!

!

7'!+#&)

!

!

!

!

!

!

!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

+'(3"!$##+8'!

#!

+,!G?-30?,!'41H0?01:-,!&8=?,=IJ-:,K!:020<?,/,!02!D,8,/4!308!/0!E.1-4K!H.0!02!D.1=4!/0!D,?=-/,!/02!D?4:084!/0! ?0H20L-M1!84<?0!.1,!08=?,=0J-,!:43D,?=-/,!D,?,!+,8!G,23,8!/0!N?,1!',1,?-,"!&1! 08,! :41H0?01:-,K! 80! D?0801=M! .1,! D?-30?,! D?4D.08=,! /0! /-,J1M8=-:4! 84<?0! 2,! '-./,/K!-/01=-H-:,1/4!/-0O!F0:F48! 8-J1-H-:,=-A48!P.0!D.0/01! 80?! 2,!<,80!/0! .1!/-8:.?84! J24<,2! 84<?0!022,K!:43D,=-<20!:41!A-8-4108!3Q8!08D0:;H-:,8!D?4:0/01=08!/0!,1Q2-8-8!80:=4?-,208"!&80!,1Q2-8-8!/-,J1M8=-:4! -1:2.;,!.1!020A,/4!1R30?4!/0!?0=48!P.0!2,!'-./,/!D4/?;,!,H?41=,?!01!F4?-O41=08!=03D4?,208!/-A0?848"!

S0!=?,=,<,!/0!.1,!D?4D.08=,!P.0!D?0801=M!02!&P.-D4!TI:1-:4!/0!G?4,U6C6C!:41!02!D?4DM8-=4!/0! P.0! H.0?,! ,3D2-,301=0! :414:-/,! 7! ?0:0D=4?,! /0! 1.0A,8! D?4D.08=,8! 7! 8.J0?01:-,8K! /0!3,10?,!P.0!D./-0?,!,2:,1O,?80!.1!,3D2-4!:4180184!84<?0! 2,8!:,?,:=0?;8=-:,8!3Q8!?020A,1=08!/0! 2,! '-./,/! V.0! T010348"! &8=,! H,80! /02! D?4:084! /0! ?0H20L-M1! 08=?,=IJ-:,! 08! /0! J?,1!-3D4?=,1:-,!D,?,!D4/0?!,<4?/,?!2,8!=,?0,8!P.0!:41/.O:,1!,!.1!1.0A4!,3D2-4!:4180184!84<?0!2,! '-./,/! V.0! V.0?0348K! D,8,1/4K! D4?! =,1=4K! /0! .1,! H,80! /0! /-,J1M8=-:4! ,! 4=?,! /0!D?4D.08=,8"!

&2!/4:.301=4!P.0!,F4?,!80!D?0801=,!08!2,!8;1=08-8!7!?08.2=,/4!/0!080!D?4:084!/0!,D4?=,:-4108!7!8.J0?01:-,8!?0,2-O,/4!/08/0!02!308!/0!E.1-4!7!P.0!80!F,!,2-301=,/4!/0*!

• W1!/-,J1M8=-:4!/0!A,2-/,:-M1!03D;?-:,K!P.0!F,!,D4?=,/4!0A-/01:-,!08=,/;8=-:,!7!,1,2;=-:,!• W1!08=./-4!84:-42MJ-:4!/0! :,?Q:=0?!:.,2-=,=-A4K!.=-2-O,1/4! =I:1-:,8!/0!/-1Q3-:,!/0!J?.D48K!80J301=,/48!80JR1!<,??-48!/0!?08-/01:-,K!0/,/!7!JI10?4!

• >CC! :.08=-41,?-48! :.3D2-301=,/48! D4?! 2,8! D0?841,8! ,8-8=01=08! ,! 2,! G?-30?,! '41H0?01:-,!&8=?,=IJ-:,!7!?0:-<-/48!=,3<-I1!,!24!2,?J4!/0!08=0!D?4:084!

• 6CC! 01=?0A-8=,8! 01! D?4H.1/-/,/! ,! ,:=4?08! ?020A,1=08! /0! 2,! :-./,/! 01! 248! Q3<-=48!0:41M3-:4K!84:-,2K!=0??-=4?-,2!0!-18=-=.:-41,2!

+'(3"!$##+8')

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

+'(3"!$##+8'!

9!

T4/4! 080!3,=0?-,2! ,:.3.2,/4! 01! 08=48!30808! F,! D0?3-=-/4! ,2! &P.-D4!TI:1-:4! :.,2-H-:,?K! /0!3,10?,! -3D4?=,1=0K! 02! /4:.301=4! -1-:-,2! 7! D?-4?-O,?! 248! ?0=48! :41! :?-=0?-48! /0! 4D4?=.1-/,/K!A-,<-2-/,/K!:4180184K!?020A,1:-,!7!:,?Q:=0?!08=?.:=.?,1=0K!/0!3,10?,!P.0!D41J,1!01!A,24?!248!?0:.?848!P.0!=-010!+,8!G,23,8!/0!N?,1!',1,?-,!D,?,!80?!.1,!:-./,/!/02!8-J24!XXYK!:,D,O!/0!?08D0=,?!7!:43<-1,?!,/0:.,/,301=0!2,!=?,/-:-M1!7!2,!-114A,:-M1!7!F,:0?!/0!2,!:,2-/,/!/0!A-/,!8.!D?-1:-D,2!A,2;,"!

Z0!08=,!3,10?,K!80!F,1!D?-4?-O,/4!#5!?0=48!?020A,1=08!P.0!,H0:=,1!,!)C!F0:F48!,?=-:.2,/48!01!=4?14!,!#!0E08*!

,9) -,)&#"'"%7,):)-"0)&'("3'"0K!P.0!8-1=0=-O,!248!F0:F48!8-J.-01=08*!

=&#=") .>) -,) #+$!,!) &') &-) %$'!"*! +,8! G,23,8! /0! N?,1! ',1,?-,K! D4?! 8.! 8-=.,:-M1!J0408=?,=IJ-:,!01!02![=2Q1=-:4!\0/-4!(?-01=,2K!8.8!:41/-:-4108!:2-3,=42MJ-:,8!7!8.!F-8=4?-,K!80!F,! -/4!D48-:-41,1/4!01!/-H0?01=08!?0/08!/0! H2.E48!/0!<-0108!7!80?A-:-48K!D0?841,8K!:,D-=,208K!:414:-3-01=4! 7! :.2=.?,"! +,!'-./,/!D.0/0! :41A0?=-?80!01!.1! ?0H0?01=0! ?08D0:=4! ,! 2,8!1.0A,8!:01=?,2-/,/08!01!02!:41=-101=0!,H?-:,14!7!2,8!?0J-4108!.2=?,D0?-HI?-:,8!0.?4D0,8"!

=&#=")4>)-,)#+$!,!):)-,)+0-,*!+,!030?J01:-,!/0!1.0A48!H4:48!/0!,:=-A-/,/!0:41M3-:,!7!.?<,1,!01! 2,! -82,! 7!01!02! :41E.1=4!/02![?:F-D-I2,J4!34/-H-:,! 2,! H.1:-M1! =?,/-:-41,2!P.0!F,!/0803D0],/4! +,8! G,23,8! /0!N?,1!',1,?-,"! +,!'-./,/! ?0P.-0?0! .1,! 1.0A,!/0H-1-:-M1! /0! 8.!2-/0?,OJ4K!01!.1,!08=?,=0J-,!/0!:44D0?,:-M1!7!/08,??4224!:43D20301=,?-4!:41!4=?48!01:2,A08!/0!N?,1!',1,?-,!7!/0!4=?,8!-82,8!7!:41!4=?,8!:-./,/08!/0!',1,?-,8"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

+'(3"!$##+8'!

>!

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

29 -,)#,-+!,!)!&);+!,):)&-)(&33+("3+"K!P.0!8-1=0=-O,!248!F0:F48!8-J.-01=08*!=&#=")@>) -,)#+$!,!) :) &-)%&!+"),%2+&'(&*! &2!34/024! /0! /08,??4224! /0! 2,! '-./,/!J010?,! 020A,/48! :48=08! 30/-4,3<-01=,208"! &8! 10:08,?-4! .1! ,3D2-4! :43D?43-84! /0! 248!:-./,/,148K!2,8!03D?08,8!7!2,![/3-1-8=?,:-M1!,!H,A4?!/0!2,!848=01-<-2-/,/!7!/02!:418.34!7!2,!J08=-M1!?08D418,<208!/0!248!?0:.?848"!

=&#=") A>) -,) #+$!,!) &') 0$0) 2,33+"0*! +,! '-./,/! D?0801=,! /-H-:.2=,/08! /0!08=?.:=.?,:-M1!.?<,1,!P.0! 80! ?0H20E,1!01!/-H0?01:-,8!/0!0P.-D,3-01=48K! 80?A-:-48K!A-A-01/,!7!:,2-/,/!/0!A-/,!01!8.8!<,??-48K!,8;!:434!01!D?4<203,8!/0!:410:=-A-/,/!7!34A-2-/,/"!&8!D48-<20!F,:0?!/0!+,8!G,23,8!/0!N?,1!',1,?-,!.1,!:-./,/!3Q8!,3,<20!7!F,<-=,<20"!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,*!+,!'-./,/!/-8D410!/0!?0:.?848!1,=.?,208!7! 08D,:-48! DR<2-:48! P.0! 14! 08=Q1! 8.H-:-01=0301=0! ,D?4A0:F,/48! D,?,! 02! /-8H?.=0K! 2,!:41A-A01:-,! :-./,/,1,K! 2,! ,:=-A-/,/! H;8-:,! 7! 02! /0D4?=0"! +,! ?0:.D0?,:-M1! /0! 248! 08D,:-48!DR<2-:48!08!.1!,8D0:=4!:2,A0!D,?,!2,!30E4?,!/0!2,!:,2-/,/!/0!A-/,!/0!248!:-./,/,148"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

+'(3"!$##+8'!

B!

=&#=")6>)-,)#+$!,!):)&-)%,3*!&2! 2-=4?,2! /0! 2,!'-./,/!7! 248!08D,:-48!1,=.?,208!P.0! 24!-1=0J?,1!841K!01!2,!,:=.,2-/,/K!.1,!8.:08-M1!/0!=?,348!/-8:41=-1.48K!/0!/-8=-1=,!:41H-J.?,:-M1!7! /-A0?8-/,/! /0! .848K! P.0! /03,1/,1! .1,! 4?/01,:-M1! 7! 30E4?,K! :41! .1,! A-8-M1! -1=0J?,2K!:43D,?=-/,!7!848=01-<20"!&2!3,?!08!.1,!80],!/0!-/01=-/,/!/-H0?01:-,/4?,!7!=?,18H4?3,/4?,!/0!2,!A-/,!:-./,/,1,"!

#9) -,)#"';+;&'#+,):)&-)!&0,33"--")!&)-,0)<&30"',0K!P.0!8-1=0=-O,!248!F0:F48!8-J.-01=08*!

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,*!+,!08=?.:=.?,!84:-,2!/0!2,!'-./,/!08!:,/,!A0O!3Q8!/-A0?8,!7!:43D20E,"!+48!D?4:0848!/0!:,3<-4!/03,1/,1!?08D.08=,8!P.0!F,J,1!/0!+,8!G,23,8! /0! N?,1! ',1,?-,! .1,! :-./,/! 3Q8! ,<-0?=,K! 842-/,?-,K! -1=0J?,/4?,! 7! /0H0184?,! /0! 2,!:41A-A01:-,!7!2,!-J.,2/,/"!

=&#=") E>) -,) #+$!,!) :) -,0) #$-($3,0*! +,! '-./,/! =-010! .1,! =?,/-:-M1! :.2=.?,2K! .1,!F-8=4?-,! 7! .1! D,=?-341-4! =,1J-<20! 0! -1=,1J-<20! P.0! ?0P.-0?01! 1.0A48! 34/0248! /0! J08=-M1K!D?4/.::-M1!7!/-H.8-M1K!,8;! :434!.148!0P.-D,3-01=48!8.H-:-01=08"!Z,/4!P.0! 2,!:.2=.?,!01!+,8!G,23,8! /0! N?,1! ',1,?-,! ?0H20E,! 3R2=-D208! A-8-4108! /02! 3.1/4K! :418=-=.70! .1! 020301=4!H.1/,301=,2! D,?,! H4?=,20:0?! 8.! D?470::-M1! -1=0?1,:-41,2! 7! 02! :?0:-3-01=4! D0?841,2! /0! 8.8!F,<-=,1=08"!

=&#=") .5>) -,) #+$!,!) :) &-) !&0,33"--") =$%,'"*! +,! '-./,/! :.01=,! :41! .1,!84:-0/,/! :-A-2! D4:4! 08=?.:=.?,/,"! +,! :418=?.::-M1! /0! .1,! 08=?,=0J-,! :43D,?=-/,! /0! H.=.?4!D?0:-8,!/0!.1,!J08=-M1!0H-:,OK!/0!.1!2-/0?,OJ4!:4F08-41,/4?!7!/0!2,!D,?=-:-D,:-M1!0H0:=-A,!/0!248!:-./,/,148"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

+'(3"!$##+8'!

@!

&8=0! /4:.301=4! -1:4?D4?,! =,3<-I1! .1,! 8020::-M1! /0! 2,8! D?4D.08=,8! P.0! F0348! ?0:4D-2,/4!84<?0!:,/,!.14!/0! 248!0E08K!F0:F48!7!?0=48K!7!P.0!D?4A-0101!/0!01=?0A-8=,8!01!D?4H.1/-/,/K!:.08=-41,?-48K! D?4J?,3,8! D42;=-:48K! ,D4?=,:-4108! /0! ,84:-,:-4108! 7! 4?J,1-O,:-4108! /-A0?8,8K!/-8=-1=48!01:.01=?48! 7! E4?1,/,8K! ,D4?=,:-4108! -1/-A-/.,208K!/-A0?848!D?4J?,3,8!/0!,::-M1!01!3,?:F,!7! 20:=.?,8!8020:=-A,8!/0! 2,!D?018,"![8;K! F0348!:4180J.-/4!/-8D410?!/0!.1!<,1:4!/0!3Q8!/0!>CCC!D?4D.08=,8K!/0!2,8!P.0!F0348!?0,2-O,/4!.1,!D?-30?,!8020::-M1!/0!66>"!!

+,! 80J.1/,! H,80! /0! 08=0! D?4:084K! P.0! 80! -1-:-,! ,! 30/-,/48! /02! 308! /0! 010?4K! =-010!D?0:-8,301=0! :434! 4<E0=-A4! 2,! D?-4?-O,:-M1! /0! 08,8! D?4D.08=,8K! /0! 3,10?,! P.0! D.0/,1!:41A0?=-?80! 01! D?470:=48! 08=?.:=.?,1=08! P.0K!30/-,1=0! 02! :4180184! 7! 02! :43D?43-84! /0! 248!/-8=-1=48!,:=4?08!-3D2-:,/48!01!02248K!148!,:0?P.01!,!2,!'-./,/!V.0!V.0?0348"!

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

!

+,8!G,23,8!/0!N?,1!',1,?-,K!/-:-03<?0!/0!6CC$!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

$!

!!!!!!!!!!!!!!!

["!-,)&#"'"%7,):)-"0)&'("3'"0!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=").>)-,)#+$!,!)&')&-)%$'!"!

5!

!

-FG)<FHIFG)JK)LMFN)#FNFMOFP)QRM)GS)GOTSFUOVN)WKRKGTMFTXWOUF)KN)KH),THYNTOUR)%KJOR)"MOKNTFHP) GSG) URNJOUORNKG) UHOIFTRHVWOUFG) Z) GS) [OGTRMOFP) GK) [F) OJR) QRGOUORNFNJR) KN)JO\KMKNTKG)MKJKG)JK)\HS]RG)JK)^OKNKG)Z)GKM_OUORGP)QKMGRNFGP)UFQOTFHKGP)URNRUOIOKNTR)Z)USHTSMF9))

-F)#OSJFJ)QSKJK)URN_KMTOMGK)KN)SN)MK\KMKNTK)MKGQKUTR)F) HFG)NSK_FG)UKNTMFHOJFJKG)KN)KH)`\MOUF)"UUOJKNTFH)Z)HF)MKWOVN)IFUFMRNXGOUF9)

&2! 3.1/4! 08=Q! 01! D?4:084! /0! :,3<-4! J24<,2K! ?QD-/4! 7! D?4H.1/4K! 24! P.0K! 01! 2,8! R2=-3,8!/I:,/,8K!F,!D?4/.:-/4!.1!-1:?0301=4!8-J1-_:,=-A4!/0!2,!-1=0?/0D01/01:-,!7!/0!248!`.E48!01=?0!2,8!:-./,/08!/0!=4/48!248!:41=-101=08"!T,208!H2.E48!,:=R,1!:434!14/48!/0!.1,!?0/!P.0!J010?,!-3D4?=,1=08!A-1:.2,:-4108!0:41M3-:,8K!84:-,208!7!:.2=.?,208"!+,!J24<,2-O,:-M1!/0!24!.?<,14!08=Q!J010?,1/4!D?4:0848!/0!:,3<-4!P.0!/0=0?3-1,1!02!H.=.?4!/0!2,!84:-0/,/!3.1/-,2"!!

+,!8-=.,:-M1!J0408=?,=IJ-:,!/0!2,!'-./,/!F,!H,A4?0:-/4!8.!D?0801:-,K!,!24!2,?J4!/0!2,!%-8=4?-,K!01!02!8-8=03,!/0!?02,:-4108!/02![=2Q1=-:4!\0/-4K!:41!.1,!<.01,!D48-:-M1!?02,=-A,!01!2,8!?0/08!/0!`.E48!/0!30?:,1:;,8K!80?A-:-48!7!D0?841,8!01!02!Q3<-=4! -1=0?:41=-101=,2!a&.?4D,K!bH?-:,!7![3I?-:,c! 7! 01! 02! -1=0?-18.2,?"! &8=,! :-?:.18=,1:-,! ?0H.0?O,! 02! D4=01:-,2! /0?-A,/4! /0! 2,!=?-:41=-101=,2-/,/! /0! +,8! G,23,8! /0! N?,1! ',1,?-,K! 8-! <-01! 8.! ,D?4A0:F,3-01=4! :434! 14/4!=?-,1J.2,?! /0D01/0?QK! 01! <.01,! 30/-/,K! /02! D48-<20! /08D0J.0! 0:41M3-:4! /02! bH?-:,!(::-/01=,2"!

=&#=").>)-,)#+$!,!)&')&-)%$'!")

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=").>)-,)#+$!,!)&')&-)%$'!"!

)C!

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bH?-:,!841!14=4?-,301=0!/I<-208!0!-18._:-01=08K!=,1=4!01!:,1=-/,/!:434!01!-1=018-/,/!/0!2,8!?.=,8"!

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a:.,?=4! D.0?=4! 1,:-41,2cK! 02! =?Q_:4! /0!:?.:0?48!7!248!80?A-:-48!/0!?0D,?,:-4108!1,A,208"!T4/,8!08=,8!,:=-A-/,/08!?0D?0801=,1!1.0A,8!4D4?=.1-/,/08! D,?,! 2,! :,D=,:-M1! /0! =?Q_:4! 7! 2,! J010?,:-M1! /0! A,24?! ,],/-/4! 7! /0! 03D204!:.,2-_:,/4"!

+,! :410:=-A-/,/! 0L=0?1,! /0! +,8! G,23,8! /0! N?,1! ',1,?-,! 80! 01:.01=?,! :41/-:-41,/,! D4?! 2,!08:,80O!?02,=-A,!/0!:43<.8=-<208!HM8-208K!24!P.0!?0D?0801=,!.1!?0=4!08=?,=IJ-:4!3.1/-,2!01!02!30/-4!D2,O4"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=").>)-,)#+$!,!)&')&-)%$'!"!

))!

&1!02!:41=0L=4!/0!24!P.0!80!F,!/0143-1,/4!S4:-0/,/!/02!'414:-3-01=4K!80!D.0/0!,_?3,?!P.0!+,8!G,23,8!/0!N?,1!',1,?-,!80!:,?,:=0?-O,!D4?!8.!<.01,!:410:=-A-/,/!/-J-=,2K!01=01/-/,!I8=,!:434!2,!H,:-2-/,/!/0!,::084!,!Y1=0?10=!7!02!.84!/0!/-8D48-=-A48!/0!=020H41;,!3MA-2"!d4!4<8=,1=0K!08=,!,_?3,:-M1!/0<0!80?!3,=-O,/,!01!02!801=-/4!/0!P.0!0L-8=01!:-0?=48!08=?,1J.2,3-01=48!01!2,!?0/!/0!:,<20,/4!/0!=020H41;,!7!/,=48e!=,3<-I1K!D4?!2,!0L-8=01:-,!/0!.1,!:.2=.?,!=0:142MJ-:,!2-3-=,/,! 01! 02! .84! /0! 2,8! =0:1424J;,8! /0! -1H4?3,:-M1! 7! :43.1-:,:-M1K! =,1=4! D4?! D,?=0! /0! 2,!D4<2,:-M1!:434!/0!2,8!03D?08,8!7!2,8!,/3-1-8=?,:-4108!DR<2-:,8"!(=?,!2-3-=,:-M1!-3D4?=,1=0!,!8.D0?,?K!8-!=010348!01!:.01=,!2,8!D4=01:-,2-/,/08!:430?:-,208!7!=.?;8=-:,8!/0!2,!:-./,/K!08!02!/I_:-=!01!02!:414:-3-01=4!/0!4=?,8!201J.,8*!8M24!.1,!/0!:,/,!=?08!D0?841,8!F,<2,!4=?4!-/-43,"!S-1! 03<,?J4K! +,8! G,23,8! /0! N?,1! ',1,?-,K! 7! ',1,?-,8! 01! J010?,2K! :.01=,1! :41! 2,8!J010?,:-4108!EMA0108!30E4?!H4?3,/,8!/0!8.!F-8=4?-,"!!

[!D08,?!/02!-1:?0301=4!/0!2,!:410:=-A-/,/!D4?=.,?-,K!,0?4D4?=.,?-,!7!/-J-=,2!7!/0!248!020A,/48!1-A0208!/0!:?0:-3-01=4!7!4D4?=.1-/,/08!0:41M3-:,8K!2,!:,D,:-/,/!/0!,=?,::-M1!/0!-1A0?8-4108!0L=?,1E0?,8!F,!8-/4!-??0J.2,?K!:41:01=?,/,!01!D,?=-:-D,:-4108!84:-0=,?-,8!01!02!80:=4?!80?A-:-48K!7!08:,8,301=0!-1:01=-A,/,8!D4?!D42;=-:,8!DR<2-:,8K!,!D08,?!/0!248!,=?,:=-A48!H-8:,208!0L-8=01=08"!

(=?4! =,1=4! :,<0! /0:-?! 01! :.,1=4! ,! 2,! :,D,:-/,/! /0! ,=?,::-M1! /0! 80/08! /0! 03D?08,8! 0!-18=-=.:-4108! P.0! 4D0?01! 01! 02! Q3<-=4! =?-:41=-101=,2K! 01! 02! P.0! 2,! '-./,/! ,8D-?,! ,! 80?!?0H0?01=0"!

[D?4A0:F,?! 2,8!D48-<-2-/,/08!/0!+,8!G,23,8!/0!N?,1!',1,?-,!D,?,!4:.D,?!.1!D,D02!?020A,1=0!01!2,8!?0/08!/0!`.E48!01=?0!2,8!:-./,/08!/0![3I?-:,K!&.?4D,!7!bH?-:,K!-3D2-:,!.1!08H.0?O4!D4?!-/01=-_:,?! D?470:=48! 7! ,::-4108! P.0! 30E4?01! 8.! :43D0=-=-A-/,/"! &8=48! 08H.0?O48! /0<01!/-?-J-?80! ,! -1:?0301=,?! 2,! :,D,:-/,/!/0! ,=?,::-M1! /0! D0?841,8K!30?:,1:;,8! 0! -1H4?3,:-M1K! ,!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=").>)-,)#+$!,!)&')&-)%$'!"!

)6!

-1:4?D4?,?! -114A,:-M1!7! =0:1424J;,!01! 248! 8-8=03,8!D?4/.:=-A48K! 7!,! H,A4?0:0?! .1,! :.2=.?,!7!H4?3,:-M1K!D?4D-:-,8!,!2,!J08=-M1!/02!:,3<-4"!!

S-!,8D-?,348!,!A0?=0<?,?! 248!`.E48!/0!.1,!?0/! -1=0?1,:-41,2K! 2,!'-./,/!/0<0!80?!84:-,2301=0!,<-0?=,K!,:4J0/4?,!7!H,A4?,<20!,!2,!/-A0?8-/,/K!,/03Q8!/0!:41=,?!:41!.148!?0:.?848!F.3,148!:.,2-_:,/48!D,?,!,8.3-?!/-:F4!4<E0=-A4"!Z0<0!08=,?!<-01!:410:=,/,!7!80?!HQ:-2301=0!,::08-<20!:41!A;,8!/0!:,2-/,/K!,!D,?=-?!/0!.1,!4?/01,:-M1!=0??-=4?-,2!7!.?<,1;8=-:,!P.0!H4?=,20O:,!02!.84!848=01-<20!/02!08D,:-4"!!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=").>)-,)#+$!,!)&')&-)%$'!"!

)#!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

Y1:?0301=,?!2,!:,D,:-/,/!/0!,=?,::-M1!/0!=?QH-:4!3,?;=-34!7!,I?04K!30E4?,1/4!2,!:43D0=-=-A-/,/!7!,],/-01/4!A,24?!,!2,!D?08=,:-M1!/0!80?A-:-48!!

• +20A,?!,!:,<4!30/-/,8!P.0!H,A4?0O:,1!2,!?0/.::-M1!/0!:48=08!D4?=.,?-48!• ^0H4?O,?!2,8!A01=,E,8!:43D0=-=-A,8!01!?0D,?,:-4108!1,A,208!• ^0H4?O,?!2,!:410:=-A-/,/!,I?0,!7!3,?;=-3,!:41!02!Q?0,!,=2Q1=-:,!• '.23-1,?!2,!=0?:0?,!D-8=,!/02!,0?4D.0?=4!/0!N?,1!',1,?-,K!,8;!:434!2,!=0?3-1,2!7!02!D,?P.0!,0?4D4?=.,?-4!• G4=01:-,?!02!=?QH-:4!/0!:?.:0?48!=.?;8=-:48K!4H?0:-01/4!H,:-2-/,/08!D,?,!P.0!148!A-8-=01K!7!J010?,?!248!10:08,?-48!80?A-:-48!,10L48!

• [:=-A,?!02!G.0?=4!/0![?-1,J,K!7!:43D,=-<-2-O,?!8.8!,:=-A-/,/08!:41!02!G.0?=4!/0!+,!+.O!7!+,8!G,23,8!\0E4?,?!2,8!-1H?,08=?.:=.?,8!7!0P.-D,3-01=48!P.0!D0?3-=,1!,!2,!'-./,/!:41A0?=-?80!01!D.1=4!/0!:410L-M1!/0!10J4:-48!7!24J;8=-:,!,!1-A02!3.1/-,2e!D?434A0?!8.!-3,J01!:434!?0H0?01=0!D,?,!2,!,=?,::-M1!/0!-1A0?8-4108!7!80/08!/0!03D?08,8!0!-18=-=.:-4108!7!:434!D2,=,H4?3,!/0!:44D0?,:-M1K!08D0:-,2301=0!:41!02!:41=-101=0!,H?-:,14"!

• [D?4A0:F,?!2,8!D48-<-2-/,/08!/0!',8,!bH?-:,!7!,<4?/,?!D42;=-:,8!/0!:44D0?,:-M1!01!D?470:=48!:41E.1=48!DR<2-:4fD?-A,/48K!:434!08!02!:,84!/0!2,![J01:-,![H?-:,1,!/0!S0J.?-/,/!\,?;=-3,K!/08,??422,/,!D4?!02!G.0?=4K!2,!W+GN'!7!2,!W1-A0?8-/,/!/0!G2734.=F!

• '4180J.-?!P.0!2,!'-./,/!80,!/0:2,?,/,!:,D-=,2!0.?4,H?-:,1,!/0!2,!:.2=.?,!7!02!:4/08,??4224!D4?!D,?=0!/0!2,!W1-M1!&.?4D0,!7!2,!(?J,1-O,:-M1!D,?,!2,!W1-/,/![H?-:,1,!!

• Y3D.28,?!.1!D?470:=4!/0!<0:,8!D,?,!,2.3148!,H?-:,148!01!',1,?-,8K!01!=4/48!248!1-A0208!0/.:,=-A48K!7!:4180J.-?!P.0!EMA0108!0J?08,/48!:,1,?-48!D,?=-:-D01!01!D?470:=48!/0!/08,??4224!01!bH?-:,K!:41!H-1,1:-,:-M1!:41E.1=,!/02!N4<-0?14!:,1,?-4!7!',8,!bH?-:,K!,!D,?=-?!/0!D?470:=48!0A,2.,/48!D4?!2,!(dW!

• '?0,?!08:.02,8!/0D4?=-A,8!D,?,!bH?-:,K!-1=01=,1/4!,=?,0?!02!=,201=4!/0D4?=-A4!• [D?4A0:F,?!02!D4=01:-,2!0L-8=01=0!01!D?4:0848!/0!30E4?,!/0!3,=0?-,208!D,?,!2,!:418=?.::-M1!/0!<,E4!:48=0!7!0H-:-01=08!D,?,!bH?-:,!

• G4=01:-,?!02!D,D02!/0!2,!'-./,/!?08D0:=4!,2!:41=-101=0!,H?-:,14K!01!:.,1=4!,!J08=-M1!/02!,J.,!7!010?J;,8!?014A,<208!• [=?,0?!80/08!-1=0?1,:-41,208!4H-:-,208!7!/0!(dN!D,?,!:44D0?,:-M1!:41!bH?-:,!a'01=?4!Wd&S'(K!'?.O!^4E,K!d.=?-:-M1!8-1!g?41=0?,8Khc!

• '?0,?!01!2,!'-./,/!.1,!80/0!D0?3,101=0!/0!08=./-4!0!-1=0?:,3<-4!/0!0LD0?-01:-,8!84<?0!J4<0?1,1O,!24:,2!01!02!3.1/4!• G?4D-:-,?!.1!D?4J?,3,!3.1-:-D,2!7!/02!',<-2/4!D,?,!:4180J.-?!.1!F0?3,1,3-01=4!:41!:-./,/08!,H?-:,1,8!7!3,:,?41I8-:,8!• G?4D-:-,?!2,!:?0,:-M1!/0!2,!?0/!/0!.1-A0?8-/,/08!,=2Q1=-:,8K!:41!80/0!01!+,8!G,23,8!/0!N?,1!',1,?-,!• G4=01:-,?!2,!W1-A0?8-/,/!Y1=0?1,:-41,2!GI?0O!N,2/M8!

Z08,??422,?!-1H?,08=?.:=.?,8!8.H-:-01=08!D,?,!.1,!:410:=-A-/,/!/-J-=,2!0H-:-01=0!

• '?0,?!D2,=,H4?3,8!DR<2-:,8!/0!Y1=0?10=!K!:41!,::084!J?,=.-=4!01!=4/,!2,!:,D-=,2K!D,?,!F,:0?!/0!+,8!G,23,8!/0!N?,1!',1,?-,!.1,!:-./,/!/-J-=,2!

• \0E4?,?!2,!-1H?,08=?.:=.?,!/0!=020:43.1-:,:-4108!/0!<,1/,!,1:F,!P.0!D0?3-=,!,3D2-,?!2,!:410:=-A-/,/!/-J-=,2!F,:-,!02!0L=0?-4?!7!02!-1=0?-4?!/0!2,!'-./,/!

• '?0,?!.1,!&8:.02,!\.1-:-D,2!/0![:=.,2-O,:-M1!Z-J-=,2!'-./,/,1,K!/-?-J-/,!H.1/,301=,2301=0!,!:420:=-A48!/0!3,74?08!7!D0?841,8!/0!30/-,1,!0/,/!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")4>)-,)#+$!,!):)-,)+0-,!

)9!

)

-F)KIKMWKNUOF)JK)NSK_RG)\RURG)JK)FUTO_OJFJ)KURNVIOUF)Z)SM^FNF)KN)HF)OGHF)Z)KN)KH)URN]SNTR)JKH),MU[OQOXHFWR)IRJO\OUF)HF)\SNUOVN)TMFJOUORNFH)bSK)[F)JKGKIQKcFJR)-FG)<FHIFG)JK)LMFN)#FNFMOF9)

-F) #OSJFJ) MKbSOKMK) SNF) NSK_F) JK\ONOUOVN) JK) GS) HOJKMFdWRP) KN) SNF) KGTMFTKWOF) JK)URRQKMFUOVN)Z)JKGFMMRHHR)URIQHKIKNTFMOR)URN)RTMRG)KNUHF_KG)JK)LMFN)#FNFMOF)Z)JK)RTMFG)OGHFG)Z)URN)RTMFG)UOSJFJKG)JK)#FNFMOFG9)

+,8!:-./,/08!1.1:,!841!2,8!3-83,8"!'434!8-!/0!80?08!A-A48!80!=?,=,80K!2,8!:-./,/08!08=Q1!01!:41=-1.,! =?,18H4?3,:-M1K! 0A42.:-41,1! :41! 248! =-03D48! 7! 2,8! 10:08-/,/08! /0! 8.8! F,<-=,1=08"!S41K! ,! 8.! A0OK! 8.E0=48! ,:=-A48! :41! :,D,:-/,/! D,?,! J010?,?! D?4:0848! /0! :,3<-4K! .?<,148! 7!84:-,208!8-3.2=Q10,301=0K!D.08=4!P.0!01!022,8!80!/08,??422,1!2,8!?02,:-4108!01=?0!248!,:=4?08!:41!3,74?!D4=01:-,2!/0!=?,18H4?3,:-M1!84:-,2"!+,8!?0/08!/0!,:=4?08! -1=0?,:=R,1!01! 2,!:-./,/!84<?0!.1!01=4?14!=0:142MJ-:4K!:.2=.?,2K!0:41M3-:4!0!-18=-=.:-41,2K!01!D0?3,101=0!D?4:084!/0!=?,18H4?3,:-M1"!

+,8! G,23,8! /0! N?,1! ',1,?-,! 08! 2,! 3,74?! :-./,/! /02! [?:F-D-I2,J4! 7! 2,! 14A01,! /02! D,;8! 01!D4<2,:-M1e!8.8!#@@"6C#!F,<-=,1=08!:418=-=.701!02!)$KB6i!/0! 248!F,<-=,1=08!/0!',1,?-,8!7!02!9BK6@i!/0!248!/0!N?,1!',1,?-,K!24!P.0!8.D410K!/08/0!02!D.1=4!/0!A-8=,!0:41M3-:4K!.1,!,2=,!/018-/,/! /0! D?4/.:=4?08K! :418.3-/4?08! 7! .8.,?-48"! S-1! 03<,?J4K! 2,! =,8,! /0! :?0:-3-01=4!D4<2,:-41,2! 80! F,! /08,:020?,/4! -1=018,301=0! 01! 2,! R2=-3,!/I:,/,! 7K! /08/0! 02! ,]4! 6CC#K! 2,!'-./,/!F,!A-8=4!/08:01/0?!02!1R30?4!/0!8.8!F,<-=,1=08"!S-3.2=Q10,301=0K!80!F,!D?4/.:-/4!.1!/08D2,O,3-01=4! D4<2,:-41,2! F,:-,! 3.1-:-D-48! :0?:,148! aS,1=,! j?;J-/,K! T02/0K! [?.:,8c! 7! .1!

=&#=")4>)-,)#+$!,!):)-,)+0-,)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")4>)-,)#+$!,!):)-,)+0-,!

)>!

H.0?=0! :?0:-3-01=4! /0! D4<2,:-M1! 01! 248! 3.1-:-D-48! =.?;8=-:48! 7! 01! 2,! \,1:43.1-/,/! /02!S.?08=0K!D,?=-:.2,?301=0!01![Jk-308!7!S,1=,!+.:;,"!

[84:-,/4!,2! :?0:-3-01=4! =.?;8=-:4!7! H,A4?0:-/4!D4?!2,!3,74?!/-8D48-:-M1!/0!8.024K!,/03Q8!/0!D4?! 2,! 0L-8=01:-,! /02! G42;J414! Y1/.8=?-,2! /0! [?-1,J,K! 02! :4??0/4?! 8.?08=0! F,! 348=?,/4! .1,!14=,<20!:,D,:-/,/!/0!J08=-M1!.?<,1,!7!F,!-/4!,:4J-01/4!,:=-A-/,/08!/0!80?A-:-48!24J;8=-:48!7!/0! D?4L-3-/,/K! .1! -1=0?08,1=0! =0E-/4! -1/.8=?-,2! 7! .1! ?42! :43D20301=,?-4! /0! 2,! ,J?-:.2=.?,K!J010?Q1/480! ,8;! .1! :,3<-4! 01! 02! E.0J4! /0! ?02,:-4108! /0! :01=?,2-/,/! 01! 2,! -82,"! &2! H.0?=0!:?0:-3-01=4! 0:41M3-:4! /02! 301:-41,/4! :4??0/4?! 8.?08=0! 80! 0LD?08,! 01! ,2=,8! =,8,8! /0!,:=-A-/,/! 0:41M3-:,! 7! 01! 02! -1:?0301=4! /0! 2,! 34A-2-/,/! /0! 2,8! D0?841,8! 7! 30?:,1:;,8K!3,1=01-01/4!+,8!G,23,8!/0!N?,1!',1,?-,!8.!H.1:-M1!/0!/-8=?-<.:-M1!-18.2,?!:41!2,8!:,<0:0?,8!03D?08,?-,208!7!,/3-1-8=?,=-A,8"!!

&2!03D204!01!2,!-82,!7!2,!'-./,/!F,!:?0:-/4!/.?,1=0!2,!R2=-3,!/I:,/,!7K!,.1P.0!+,8!G,23,8!/0!N?,1! ',1,?-,! 7! 02! Q?0,! 30=?4D42-=,1,! ,<,?:,1K! 01! =I?3-148! ,<842.=48K! 2,! 3,74?! D,?=0! /02!03D204!?0J-8=?,/4K!02!3,74?!:?0:-3-01=4!?02,=-A4!80!D?4/.:0!01!02!:4??0/4?!8.?08=0K!80J.-/4!/02!0E0!14?=0"!G4?!4=?4!2,/4K!2,!'-./,/!3,1=-010!01!2,!,:=.,2-/,/!2,!3,74?!=,8,!/0!D,?4!/0!2,!-82,K!P.0!D?08.3-<20301=0!80!,J?,A,?QK!/,/,8!2,8!0LD0:=,=-A,8!/0!08=,1:,3-01=4!01!02!30/-4!D2,O4"!

Z08/0! .1,! D0?8D0:=-A,! F-8=M?-:,! D4/0348! :418-/0?,?! P.0! 80! F,! D,8,/4! /0! 2,! :-./,/f-82,K!/41/0!2,!:01=?,2-/,/!/0!+,8!G,23,8!/0!N?,1!',1,?-,!0?,!-1/-8:.=-<20!?08D0:=4!,!=4/4!=-D4!/0!`.E48!7!?02,:-4108K!,!.1,!-82,!:,?,:=0?-O,/,!D4?!2,!,D,?-:-M1!/0!1.0A,8!:01=?,2-/,/08"!Z0<-/4!,!2,!-1=018,!=?,3,!/0!2,8!?02,:-4108!01!8.!-1=0?-4?!01=?0!248!/-8=-1=48!1R:2048!.?<,148K!03D-0O,!,!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")4>)-,)#+$!,!):)-,)+0-,!

)B!

030?J0?! .1,! -82,f:-./,/! P.0! 4<2-J,! ,! +,8! G,23,8! /0! N?,1! ',1,?-,! ,! ?0D2,1=0,?! 8.! D,D02!H.1:-41,2!01!/-:F,!=?,3,"!(=?4!=,1=4!:,<0!/0:-?!01!02!Q3<-=4!/02![?:F-D-I2,J4"!&2!D.0?=4!7!02!,0?4D.0?=4!/0!N?,1!',1,?-,!F,1!E.J,/4!.1!D,D02!/0=0?3-1,1=0!01! 2,!H.1:-M1!/0!/-8=?-<.:-M1!:430?:-,2!-1=0?-18.2,?K!H.1:-M1!P.0!F,!-/4!301J.,1/4!,!2,!D,?!P.0!2,!:,D,:-/,/!/0!-1H2.01:-,!/0!2,!'-./,/K!01!?02,:-M1!,2!D4/0?!?0J-41,2!0:41M3-:4K!D42;=-:4!0!-18=-=.:-41,2K!=,1=4!?08D0:=4!,!4=?,8! -82,8K! ,1=08! :418-/0?,/,8! D0?-HI?-:,8! a+,1O,?4=0! 7! g.0?=0A01=.?,cK! :434K!D,?=-:.2,?301=0K! ?08D0:=4! ,! S,1=,! '?.O! /0! T010?-H0K! 01! .1,! 2MJ-:,! /0! ?0/-8=?-<.:-M1! /0! 8.!D4/0?!?02,=-A4"!%,7!.1,!=?,/-:-M1!F-8=M?-:,!/0!?-A,2-/,/!:43D0=-=-A,!10J,=-A,!:41!?08D0:=4!,!2,!:,D-=,2!=-10?H0],!01!02!Q3<-=4!/0!08=48!H2.E48!7!?0/08!/0!-1=0?/0D01/01:-,!7K!,.1P.0!0L-8=0!.1!J?,1! D4=01:-,2! D,?,! .1,! 08=?,=0J-,! /0! /08,??4224! :43D20301=,?-4K! <,8,/4! 01! 8-10?J-,8K! P.0!30E4?0! 2,!D48-:-M1! -1=0?1,:-41,2!/02![?:F-D-I2,J4K!F,8=,!,F4?,!F,!D?0/43-1,/4!.1! E.0J4!/0!8.3,!:0?4K! H.1/,301=,/4!01!02!,/02,1=,3-01=4!4! 2,! ?ID2-:,!,! -1-:-,=-A,8!7!,:=-A-/,/08!/0! 2,!:,D-=,2!A0:-1,"!

+48! ?0=48! D2,1=0,/48! =-0101! :434! /0143-1,/4?! :43R1! 2,! H.1:-M1! /0! +,8! G,23,8! /0! N?,1!',1,?-,! :434! H4:4! 4?J,1-O,/4?! /0! H2.E48! 7! ?02,:-4108! 01! .1,! -82,! D42-:I1=?-:,! 7! 01! .1![?:F-D-I2,J4!D42-:I1=?-:4K!7!14!8M24!:434!.1,!30?,!,J2430?,:-M1!/0!D0?841,8!7!,:=-A-/,/08"!&80!1.0A4!D,D02!/0!2-/0?,OJ4!/0<0!D018,?80!3Q8!,22Q!/0!8.8!2;3-=08!3.1-:-D,208K!01=01/-01/4!08=,8! :-?:.18=,1:-,8! :434! 1.0A,8! 4D4?=.1-/,/08! D,?,! 8.! /08,??4224! 0:41M3-:4! 7! D,?,! .1,!?02,:-M1!848=01-<20!:41!8.!01=4?14"!!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")4>)-,)#+$!,!):)-,)+0-,!

)@!

)3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

^0H4?O,?!2,!H.1:-M1!/0!:01=?4!/-?0::-41,2!7!2,!:,D,:-/,/!/0!,=?,::-M1!/0!2,!'-./,/!01!N?,1!',1,?-,!7!01!',1,?-,8K!:434!H4:4!/0!4D4?=.1-/,/08!01!80?A-:-48!,A,1O,/48!7!/0!4:-4!7!:.2=.?,!

• G4=01:-,?!2,!:,1/-/,=.?,!/0!2,!'-./,/!:434!80/0!/0!.1,!0LD48-:-M1!-1=0?1,:-41,2!01!6C6#!

• '020<?,?!01!2,!'-./,/!02!&.?4<,8l0=!6C)B!• '?0,?!0!-3D.28,?!.1,!08:.02,!/0!F48=020?;,!/0!,2=4!1-A02!• G4=01:-,?!02!g4?4!Y1=0?1,:-41,2!/0!&3D?08,8!/0!<,80!=0:142MJ-:,!• G4=01:-,?!.1,!08:.02,!/0!10J4:-48!/0!,2=4!1-A02!:41!D?470::-M1!F,:-,!bH?-:,!• '?0,?!.1!:01=?4!-1=0?1,:-41,2!/0!:.2=.?,8!:41=03D4?Q10,8!• '?0,?!01!2,!'-./,/!02!g4?4!\.1/-,2!/0!2,!Y18.2,?-/,/!• '?0,?!.1!J?,1!,:.,?-4!/02![=2Q1=-:4!,84:-,/,!,!.1!'01=?4!/0!Y1A08=-J,:-M1![A,1O,/,!

01!g,.1,!7!g24?,!\,?-1,8!

Z08,??422,?!.1,!08=?,=0J-,!/0!-1=0?3.1-:-D,2-/,/!0!-18.2,?-/,/!P.0!-1:?0301=0!2,!:44D0?,:-M1!7!:44?/-1,:-M1!0H-:,O!:41!4=?,8!-18=-=.:-4108!

• '?0,?!.1!Q?0,!30=?4D42-=,1,!P.0!-1:2.7,!T02/0K![?.:,8!7!S,1=,!j?;J-/,!• Z08,??422,?!.1!D2,1!08=?,=IJ-:4!,!1-A02!30=?4D42-=,14!4!,!1-A02!-18.2,?!

(H?0:0?!,=?,:=-A48!/-H0?01:-,/48!P.0!D0?3-=,1!,D?4A0:F,?!02!D4=01:-,2!=.?;8=-:4!/0!N?,1!',1,?-,!7!/0!',1,?-,8!

• &12,O,?!2,!4H0?=,!:.2=.?,2!7!/0!4:-4!:41!02!80:=4?!=.?;8=-:4!/02!S.?!/0!N?,1!',1,?-,!7!/0!4=?,8!-82,8!

• G4=01:-,?!2,!-114A,:-M1!=.?;8=-:,!:434!020301=4!/0!,=?,::-M1K!D?4D-:-,1/4!02!.84!/0!1.0A,8!=0:1424J;,8!01!248!08=,<20:-3-01=48!

\0E4?,?!2,!:410:=-A-/,/!/0!2,!'-./,/!:41!02!Q?0,!30=?4D42-=,1,!7!02!:41E.1=4!/0!N?,1!',1,?-,K!:41!.1!8-8=03,!/0!34A-2-/,/!-1=0J?,/4!7!<-01!D2,1-H-:,/4!

• '?0,?!,D,?:,3-01=48!01!248!,::0848!,!2,!:-./,/!D,?,!2,!:410L-M1!:41!02!=?,18D4?=0!DR<2-:4!.?<,14!

• Y3D2,1=,?!.1,!D42;=-:,!=,?-H,?-,!-1=0J?,2!,!1-A02!-1=0?3.1-:-D,2!P.0!H,:-2-=0!=?,8<4?/48!7!H,A4?0O:,!2,!8.8=-=.:-M1!/02!.84!/02!:4:F0!D?-A,/4!

• '418=?.-?!.1!=?01!P.0!.1,!2,!:-./,/!:41!02!8.?!7!8.!D48=0?-4?!,3D2-,:-M1!,2!14?=0!• \0E4?,?!248!1./48!/0!,::084!/0!2,!:-./,/!:41!2,!:-?:.1A,2,:-M1!N'f#!D,?,!

/08:41J08=-41,?!2,![A01-/,!\,?;=-3,!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")?>)-,)&#"'"%7,)!&)-,)#+$!,!!

)$!

)

)

-F)FUTO_OJFJ)KURNVIOUF)QMONUOQFH)KGTY)^FGFJF)KN)SN)TK]OJR)QMRJSUTO_R)TMFJOUORNFH)Z)KN)KH)OIQSHGR)JKH)GKUTRM)Qe^HOUR9))

-F) #OSJFJ) [F) JK) JFM) MKGQSKGTFG) F) HF) UMOGOG) KURNVIOUF) JK) HRG) QMVfOIRG) FcRG) Z)FQMR_KU[FM) HFG) RQRMTSNOJFJKG) JK) JO_KMGO\OUFUOVN) K) ONNR_FUOVN) QFMF) JKGFMMRHHFM)GKM_OUORG) KGQKUOFHOdFJRG)bSK)WKNKMKN)_FHRM) Z) KIQHKR) USFHO\OUFJRP) QFMTOUSHFMIKNTK)KN)KH)YI^OTR)JKH)TSMOGIR)Z)HFG)NSK_FG)TKUNRHRWgFG)UFMFUTKMgGTOUFG)JK)HF)0RUOKJFJ)JKH)#RNRUOIOKNTR9)

+,8! G,23,8! /0! N?,1! ',1,?-,! =-010! .1,! ,:=-A-/,/! 0:41M3-:,! -1=018,! 7! /0! J?,1! /-1,3-834K!,.1P.0!<,8,/,K!D?-1:-D,2301=0K!01!,:=-A-/,/08!/0!80?A-:-48!/0! -1=0?30/-,:-M1!7!D?4L-3-/,/K!/08=-1,/48!01!J?,1!30/-/,!,2!30?:,/4!-1=0?14K!7!:41!.1!.84!08:,84!/0!?0:.?848!/-?0:=,301=0!2-J,/48! ,2! :414:-3-01=4"! &224! -3D2-:,! 8-8=03,8! /0! D?4/.::-M1! /0! <,E,! D?4/.:=-A-/,/K! :41!-18._:-01=0!:,D,:-/,/!/0!,??,8=?0!7!=?,18H4?3,:-M1K!7! 2-3-=,/48!0H0:=48!3.2=-D2-:,/4?08!F,:-,!02!:41E.1=4!/02!=0E-/4!D?4/.:=-A4"!!

+,!,/3-1-8=?,:-M1!DR<2-:,K! 2,!8,1-/,/!7! 2,!0/.:,:-M1K!08!/0:-?K! 248!80?A-:-48!DR<2-:48K!841! 2,8!,:=-A-/,/08!:41!3,74?!D084!01!02!m,24?![],/-/4!j?.=4!am[jc!7!01!02!03D204"!n.1=4!,!0224K!01!248! R2=-348! ,]48! 80! F,! D?4/.:-/4! .1! -3D4?=,1=0! /08,??4224! /0! 248! 80?A-:-48! 2-J,/48! ,! 2,8!03D?08,8!7! 2,8!D0?841,8K!3-01=?,8!P.0! 248!80?A-:-48! =.?;8=-:48!,<84?<01! =,1!8M24!.1!Bi!/02!03D204!01!02!3.1-:-D-4!7!?0D?0801=,1!.1!>i!/02!m[jK!1-A0208!3.7!<,E48!8-!80!=-010!01!:.01=,!P.0!80!=?,=,!/0!2,!:,D-=,2!/0!.1,!-82,!03-101=0301=0!=.?;8=-:,"!!

=&#=")?>)-,)&#"'"%7,)!&)-,)#+$!,!)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")?>)-,)&#"'"%7,)!&)-,)#+$!,!!

)5!

&1!<.01,!30/-/,K! 2,!,:=-A-/,/!0:41M3-:,!/0! 2,!'-./,/!F,!A01-/4!8.8=01=,/,!D4?!02!020A,/4!D084!/02!80:=4?!DR<2-:4!01!8.8!/-A0?8,8!A0?=-01=08K!24!P.0!F,!:41842-/,/4!H4?3,8!D?4/.:=-A,8!P.0! D4:4! -1:01=-A,1! ,2! :,3<-4! 7! 2,! -114A,:-M1K! 7! .1,! :.2=.?,! oH.1:-41,?-,2p! P.0! /-H-:.2=,! 2,!J0?3-1,:-M1! /0! 1-:F48! /0! =,201=4! 0! -1F-<0! 2,! 03D?01/0/.?;,! 7K! :41! 0224K! 2,! -114A,:-M1!,84:-,/,!,2!-1:?0301=4!01!248!1-A0208!/0!:43D0=01:-,"!!

&1! =I?3-148! J010?,208K! 2,! '-./,/! 80! F,! :,?,:=0?-O,/4!D4?! .1! :?0:-3-01=4! :.748! H,:=4?08! /0!-3D.284!F,1!8-/4!=?,/-:-41,2301=0!0L=0?148!,!2,!0:4143;,!24:,2!7!/0D01/-01=08!/0!:41=0L=48!,E0148!,!8.!:41=?42"!G4?!0224K!02!?0:4?=0!7!2,!?04?-01=,:-M1!/0!248!g41/48!&.?4D048K!01!248!P.0!80!F,!8.8=01=,/4!.1,!<.01,!D,?=0!/0!08=,!,:=-A-/,/!03D?08,?-,2K! 2,!/08,:020?,:-M1!:?0:-01=0!/02! :-:24! -134<-2-,?-4K! 2,! -1=018-_:,:-M1! /02! D?4:084! /0! /0:,/01:-,! /02! 34/024! =.?;8=-:4!:41A01:-41,2K!7! 2,8!0LD0:=,=-A,8!/0!08=,1:,3-01=4!,!30/-4!D2,O4!/0! 2,!0:4143;,!4::-/01=,2K!J010?,1!.1,! 8-=.,:-M1!01! 2,!P.0! 248!,J01=08!0:41M3-:48! F,<?Q1!/0! ?0,/0:.,?80!7!,H?41=,?!1.0A48!?0=48"!!

n.1=4!,!2,!10:08-/,/!/0!,/,D=,:-M1!,!=,208!:-?:.18=,1:-,8!/02!=0E-/4!D?4/.:=-A4!=?,/-:-41,2!7!,!2,!10:08-/,/!/0!30E4?,!/0!2,!:43D0=-=-A-/,/!/0!2,8!03D?08,8K!,.301=,1!2,8!4D4?=.1-/,/08!/0!/-A0?8-_:,:-M1! 01! 80?A-:-48! ,2=,301=0! 08D0:-,2-O,/48K! :41! .1! .84! 3Q8! -1=018-A4! /0! 1.0A,8!=0:1424J;,8!7!:,D-=,2!F.3,14!:41!3,74?!1-A02!/0!:.,2-_:,:-M1"!+,!'-./,/!08=Q!10:08-=,/,!/0!-3D.2848!-114A,/4?08!01!248!P.0!02!8-8=03,!0/.:,=-A4K!7!D,?=-:.2,?301=0!2,!W1-A0?8-/,/!/0!+,8!G,23,8! /0! N?,1! ',1,?-,K! E.0J,1! .1! D,D02! /-1,3-O,/4?! /0! D?-30?,! 3,J1-=./K! 84<?0! =4/4K!=01-01/4! 01! :.01=,! P.0! 02! 1-A02! H4?3,=-A4! /0! 2,! D4<2,:-M1! 80! 8-=R,! D4?! /0<,E4! /0! 2,!30/-,!1,:-41,2! 7! P.0! 80! D?0:-8,! .1,! 3,74?! ,/0:.,:-M1! /0! 2,8! :.,2-H-:,:-4108! ,! 2,8! 10:08-/,/08!,:=.,208!7!H.=.?,8!/02!=0E-/4!D?4/.:=-A4"!!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")?>)-,)&#"'"%7,)!&)-,)#+$!,!!

6C!

!3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[/0:.,?!2,!H4?3,:-M1!.1-A0?8-=,?-,!7!D?4H08-41,2!,!2,8!10:08-/,/08!,:=.,208!7!H.=.?,8!/02!=0E-/4!D?4/.:=-A4!7!,!2,!-114A,:-M1!03D?08,?-,2!0!-18=-=.:-41,2K!J010?,2-O,1/4!2,!:.2=.?,!/0!J08=-M1!4?-01=,/,!,2!:,3<-4!7!,!2,!-/01=-H-:,:-M1!0!-3D.284!/02!=,201=4!030?J01=0!

• G4=01:-,?!2,!H4?3,:-M1!/0!D0?841,8!01!02!Q?0,!/0!:44D0?,:-M1!,2!/08,??4224!01!:42,<4?,:-M1!:41!2,8!.1-A0?8-/,/08!,H?-:,1,8!

• Y3D.28,?!.1!D?4J?,3,!/0!-1=0?:,3<-4K!=-D4!&?,83.8K!:41!.1-A0?8-/,/08!,H?-:,1,8!• '4180J.-?!.1,!3,74?!-3D2-:,:-M1!/0!2,!W+GN'!:41!2,!'-./,/!7!:41!2,8!03D?08,8!• Y1=018-H-:,?!02!08H.0?O4!H4?3,=-A4!01!-/-43,8K!D,?=-:.2,?301=0!-1J2I8!7!H?,1:I8"!• '?0,?!.1!H4?4!D0?3,101=0!D,?,!2,!,D2-:,:-M1!/0!248!?0:.?848!/0!2,!^080?A,!/0!Y1A0?8-4108!a^Y'c!

01!248!D?470:=48!/0!=?,18H4?3,:-M1!/0!2,!'-./,/!7!/0!8.8!,:=-A-/,/08!D?4/.:=-A,8!

G4=01:-,?!248!D,?P.08!=0:142MJ-:48K!:-01=;H-:48!7!03D?08,?-,208!,8;!:434!248!:41J2430?,/48!/0!03D?08,8!D,?,!D?470:=48!-1=0?1,:-41,208!

• '?0,?!.1!D,?P.0!=03Q=-:4!D,?,!248!80:=4?08!,./-4A-8.,2K!/0!2,8!,?=08!7!/02!4:-4!• &1!:42,<4?,:-M1!:41!2,!W+GN'K!:?0,?!:01=?48!/0!-1A08=-J,:-M1!:43D0=-=-A48!,!1-A02!-1=0?1,:-41,2!• G4=01:-,?!:2.8=0?8!/0!03D?08,8!01!=0:1424J;,8!/02!,J.,K!<-4=0:1424J;,K!010?J;,8!,2=0?1,=-A,8!7!

=020:43.1-:,:-4108K!,8;!:434!01!02!:,3D4!/0!2,!8,1-/,/!08D0:-,2-O,/,!01!01H0?30/,/08!=?4D-:,208K!D-8:-:.2=.?,!7!A0=0?-1,?-,!=?4D-:,2!7!01!=0:1424J;,!/0!2,!,2-301=,:-M1!

• G4=01:-,?!,:=-A-/,/08!:43D,?=-/,8!P.0!,D?4A0:F01!2,8!4D4?=.1-/,/08!/0!2,!'-./,/!01!2,!D?08=,:-M1!/0!80?A-:-48!/0!8,2./!/0!:,2-/,/K!?0:414:-/48!-1=0?1,:-41,2301=0!

• '.23-1,?!02!'01=?4!/0!&3D?01/0/4?08!7!D4=01:-,?!2,!03D?01/0/.?;,!30/-,1=0!2,!g.1/,:-M1!/02!G,?P.0!'-01=;H-:4!T0:142MJ-:4!/0!2,!W+GN'K!D?434A-01/4!2,!D,?=-:-D,:-M1!,:=-A,!/0!D?4H08-41,208!P.0!/08,??422,1!8.!,:=-A-/,/!H.0?,!/0!2,8!-82,8!

• '?0,?!.1!:01=?4!-1=0J?,/4!/0!0L:0201:-,!01!H4?3,:-M1!D?4H08-41,2!/0!?0H0?01:-,!1,:-41,2!• G4=01:-,?!02!G?470:=4!/0!G2,=,H4?3,!(:0,14J?QH-:,!/0!',1,?-,8!• g,A4?0:0?!02!/08,??4224!/0!YqZq-!01!80:=4?08!/0!2,!0:4143;,!=?,/-:-41,2!

Y3D.28,?!.1!=.?-834!:.2=.?,2!7!.?<,14!/-H0?01:-,/4! • G?434A0?!2,!/0:2,?,:-M1!/0!+,8!G,23,8!/0!N?,1!',1,?-,!:434!'-./,/!T.?;8=-:,!• \0E4?,?!248!80?A-:-48!/0!-1H4?3,:-M1!,!248!.8.,?-48K!H,:-2-=Q1/42,!01!248!01=4?148!7!84D4?=08!

,::08-<208!D,?,!=4/48!• Y3D2,1=,?!.1,!3,?:,!/0!:,2-/,/!=.?;8=-:,*!oG,:=4!D4?!2,!:,2-/,/!7!2,!,::08-<-2-/,/p!• Z08,??422,?!1.0A48!08D,:-48!:434!D?4/.:=4!=.?;8=-:4*!3-?,/4?08!/0!2,!:-./,/K!012,:0!/02!3.0220!

/0D4?=-A4!:41!G.0<24!',1,?-4!7!\.804!dI8=4?Kh!• '?0,?!.1,!?0/!/0!D,?P.08!D0?-.?<,148!/0!-1=0?I8!=.?;8=-:4!7!,J?4,3<-01=,2!aj,1/,3,K!n,?/;1!

',1,?-4K!+,!Y820=,K!n-1Q3,?!7!S,1!n48I!/02!b2,34c!• ^014A,?!2,!D2,1=,!F4=020?,!:41!D0P.0]48!F4=0208!P.0!?0H20E01!-/01=-/,/!• G4=01:-,?!2,!J,8=?4143;,!24:,2!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

!

6)!

!!!!!!!!!!! -,)#,-+!,!)!&);+!,):)&-)(&33+("3+"!

j"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&!

66!

!

!

&H)IRJKHR)JK)JKGFMMRHHR)JK)HF)#OSJFJ)WKNKMF)KHK_FJRG)URGTKG)IKJORFI^OKNTFHKG9))

&G) NKUKGFMOR) SN) FIQHOR) URIQMRIOGR) JK) HRG) UOSJFJFNRGP) HFG) KIQMKGFG) Z) HF),JIONOGTMFUOVN)F)\F_RM)JK)HF)GRGTKNO^OHOJFJ)Z)JKH)URNGSIR)Z)HF)WKGTOVN)MKGQRNGF^HKG)JK)HRG)MKUSMGRG9))

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o:.2=.?,!/02!:?0:-3-01=4!7!02!:418.34p!F,! -3D?0J1,/4!<.01,!D,?=0!/0! 2,8!:48=.3<?08! :-./,/,1,8! 7! F,! J010?,/4! -3D4?=,1=08! -3D,:=48! 10J,=-A48! 84<?0! 2,! :,2-/,/! /0!A-/,!7!30/-4,3<-01=,2"!

&L-8=01! ,2J.148! ,8D0:=48! :41:?0=48! P.0! :418=,=,1! .1! /08:.-/4! D0?3,101=0! /0! 1.08=?,!'-./,/K!:434!24!/03.08=?,!02!P.0!01!2,8!R2=-3,8!/I:,/,8K!2,!J08=-M1!:420:=-A,!/0!248!A0:=4?08!,3<-01=,208! a,J.,K! 010?J;,K! ?08-/.48! 7! =?,18D4?=08c! F,7,! 8-/4! /0! 08:,8,! :,2-/,/*! 80!/08D0?/-:-,!7!:418.30!3Q8!,J.,!7!010?J;,K!80!J010?,1!3Q8!?08-/.48!8-1!.1,!J08=-M1!?0,2!1-!D?4J?,3,8! P.0!3-1-3-:01! 8.! 03-8-M1K! F,7! .1,! DI?/-/,! /0! :,2-/,/K! 0_:,:-,! 7! 0_:-01:-,! /02!8-8=03,!/0!=?,18D4?=0!DR<2-:4!7!.1!-1:?0301=4!/0!2,!:41J08=-M1!7!/02!?.-/4K!,2!=-03D4!P.0!80!D0?:-<01!J?,/48!D?04:.D,1=08!/0!:41=,3-1,:-M1!A-8.,2"!T4/4!0224K!01!02!:41=0L=4!/0!2,!H.0?=0!/0D01/01:-,! 010?JI=-:,! P.0! 84D4?=,! 02! \.1-:-D-4K! -1=018-_:,/,! D4?! 2,8! 10:08-/,/08! /0!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&!

6#!

/0D.?,:-M1! 7! /08,2,:-M1! /02! ,J.,K! 7! 2,! -1`.01:-,! /0! 08=48! D?4:0848! 01! 8.8! :48=08! /0!D?4/.::-M1"!!

+48!,2=48!1-A0208! 7! 2,8! -1,/0:.,/,8! H4?3,8!/0! :418.34!/0!,J.,! 7!010?J;,K!D,?0:01! -1/-:,?!P.0!80!08=Q1!D0?/-01/4! 2,8!<.01,8!D?Q:=-:,8!F-8=M?-:,8!/0!,F4??4!F;/?-:4!P.0!:,?,:=0?-O,<,1!248!FQ<-=48!:-./,/,148!?08D0:=4!/0!08=0!<-01!08:,84"!!

+,! 0/.:,:-M1! ,3<-01=,2K! 2,! D?434:-M1! /0! ,:=-A-/,/08! D?4/.:=-A,8! 848=01-<208! 7! 2,!-1:4?D4?,:-M1! /0! 2,! :-./,/,1;,! ,! 2,8! D42;=-:,8! DR<2-:,8! 30/-4,3<-01=,208! 841K! ,! 8.! A0OK!,8D0:=48! -18._:-01=0301=0! /08,??422,/48! 4! -10L-8=01=08"! Z0! ,F;K! 2,! -3D4?=,1:-,! /0! 2,!H4?3,:-M1! 01! A,24?08! /0! ?08D0=4! ,2! 30/-4! ,3<-01=0! D,?,! ,80J.?,?! .1,! :41A-A01:-,! 84:-,2!,?341-48,!7!848=01-<20!01!02!=-03D4"!!

W1,! :-./,/! 848=01-<20! 80! 4?J,1-O,! /0! 3,10?,! P.0! D48-<-2-=0! P.0! =4/48! 8.8! :-./,/,148!8,=-8H,J,1!8.8!D?4D-,8!10:08-/,/08!7!020A01!8.!<-0108=,?K!8-1!/,],?!02!01=4?14!1,=.?,2!7!8-1!D410?!01!D02-J?4!2,8!:41/-:-4108!/0!A-/,!/0!4=?,8!D0?841,8K!,F4?,!4!01!02!H.=.?4K!:41!:?-=0?-48!/0! 0P.-/,/! -1=0?J010?,:-41,2! 7! ,=01/-01/4! ,2! :,?Q:=0?! -??0A0?8-<20! /0! :-0?=48! D?4:0848! /0!/0=0?-4?4"!+,8!G,23,8!/0!N?,1!',1,?-,!=-010!:41/-:-4108!D,?,!,H?41=,?!:41!J,?,1=;,8!/0!IL-=4!3,74?08! 1-A0208! /0! 848=01-<-2-/,/! 01! 2,! J08=-M1! /0! 8.8! ?0:.?848! 7! /0! .1,! 30E4?! :,2-/,/!30/-4,3<-01=,2"!

&1!02!0P.-2-<?-4!10:08,?-4!01=?0!02!/08,??4224!7!02!:.-/,/4!/02!30/-4K!02!3,1=01-3-01=4!/0!2,8!,:=-A-/,/08!,J?,?-,8!/0<0!E.J,?!.1!D,D02!-3D4?=,1=0K!14!8M24!D4?!2,!?020A,1:-,!0:41M3-:,!P.0!08=4! D.0/,! ?0D?0801=,?K! 8-14K! 84<?0! =4/4K! :434! 020301=4! /0! 8,2A,J.,?/,! /0! .1,! ,::-M1!848=01-<20! 84<?0! 02! =0??-=4?-4K! :41! 30/-/,8! 0_:,:08! /0! D?4=0::-M1! =0??-=4?-,2! 7! ,J?;:42,K! /0!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&!

69!

J08=-M1!/0!,7./,8!7!/0!1.0A,8!-1H?,08=?.:=.?,8K!:434!2,!:41/.::-M1!/0!,J.,8!/0D.?,/,8!D,?,!?-0J4"![/03Q8K! 2,!:4180?A,:-M1!/0!/0=0?3-1,/48!:.2=-A48K!:434!D.0/0!80?!02!:,84!/0! 2,!A-/K!E.0J,!.1!D,D02!-3D4?=,1=0!/08/0!02!D.1=4!/0!A-8=,!/0!D?080?A,:-M1!/0!.1!D,=?-341-4!:.2=.?,2K!,!=?,AI8!/0!.1,!,:=-A-/,/!0:41M3-:,!P.0!3,?:M!.1!:-:24!-3D4?=,1=;8-34!01! 2,!F-8=4?-,!/0!2,8!Y82,8!',1,?-,8K!/0!=,2!3,10?,!P.0!80!:41A-0?=0!01!.1,!,=?,::-M1!=.?;8=-:,!7!H4?3,=-A,!/0!D?-30?!4?/01"!

&2! :,3<-4!:2-3Q=-:4!D.0/0!,:,??0,?K!01!02!30/-4!D2,O4K!0H0:=48!,R1!08:,8,301=0!A,24?,/48K!:41!:,3<-48!01!2,8!:41/-:-4108!/02!0P.-2-<?-4!30/-4,3<-01=,2K!D4?!24!P.0!?0D?0801=,!.1!?0=4!08=?,=IJ-:4!,2!P.0!2,!'-./,/!F,!/0!D?08=,?!08D0:-,2!,=01:-M1"!

+,! :.08=-M1! 30/-4,3<-01=,2! 08! .1! ,8.1=4! /0! :41:-01:-,! :-./,/,1,K! D0?4K! =,3<-I1K! /0!?08D418,<-2-/,/! D42;=-:,"! +,8! G,23,8! /0! N?,1! ',1,?-,K! :434! '-./,/! 848=01-<20! 7! :41!:,2-/,/! 30/-4,3<-01=,2K! F,! /0! :41=,?! :41! :-./,/,148! /-8D.08=48! ,! D,?=-:-D,?! ,:=-A,! 7!?08D418,<20301=0!01!2,!=43,!/0!/0:-8-4108!84<?0!02!08D,:-4!01!02!P.0!A-A01!7!80!?02,:-41,1K!/-8D.08=48! ,! :43D?430=0?80! 01! 2,! /0H018,! /0! 8.! :,2-/,/! /0! A-/,K! D0?4K! =,3<-I1K! :41! .1,![/3-1-8=?,:-M1!:,D,O!/0!,H?41=,?!248!/080P.-2-<?-48!:41!.1,!D42;=-:,!<-01!/0_1-/,!7!4?-01=,/,!,!?0842A0?! 248! D?4<203,8"! &1! 08=0! 801=-/4K! 08! 10:08,?-4! ,A,1O,?! F,:-,! J4<-0?148! 3.2=-1-A02K!/41/0!80!,8.3,1K!:41E.1=,301=0!7!/0!3,10?,!=?,18A0?8,2K!2,8!=,?0,8!,!03D?01/0?!D4?!D,?=0!/0!D4/0?08!DR<2-:48!7!,:=4?08!0:41M3-:48!7!84:-,208K!:41!.1!08D;?-=.!/0!:4??08D418,<-2-/,/"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&!

6>!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[H?41=,?!2,!J08=-M1!0H-:-01=0!/0!248!?08-/.48K!/,1/4!D?-4?-/,/!,2!:-:24!-1=0J?,2!01!8.!=?,=,3-01=4!0!-3D.28,1/4!D42;=-:,8!,:=-A,8!7!/0!:44D0?,:-M1!

• '0??,?!248!A0?=0/0?48!-1:41=?42,/48!7!220A,?!,!:,<4!.1!:41=?42!0LF,.8=-A4!/0!248!A0?=-/48!!• [/4D=,?!.1!34/024!/0!J08=-M1!7!=?,=,3-01=4!-1=0J?,2!/0!?08-/.48!01!:44?/-1,:-M1!:41!02!',<-2/4!

7!02!N4<-0?14!/0!',1,?-,8!• '?0,?!D2,1=,8!3.1-:-D,208!/0!:43D48=,E0!P.0!D0?3-=,1!2,!80D,?,:-M1!/0!2,!H?,::-M1!4?JQ1-:,!/0!

248!?08-/.48K!02,<4?,:-M1!/0!:43D48=!7!,D2-:,:-M1!01!E,?/-108K!O41,8!,J?;:42,8!7!08D,:-48!1,=.?,208!

• Z08,??422,?!.1,!,/0:.,/,!D42;=-:,!/0!:41=010/4?08!8020:=-A48K!:41!-1H4?3,:-M1!D?0:-8,!,!248!:-./,/,148K!,!D,?=-?!/0!2,!08=-3,:-M1!/0!2,8!:,1=-/,/08!/0!?08-/.48!J010?,/48K!?0:4J-/48!7!?0:-:2,/48!D4?!<,??-48!

• Z08:01=?,2-O,?!248!D.1=48!2-3D-48K!:41!.1,!D42;=-:,!/0!?0:4J-/,!/0!3,=0?-,208!08D0:;H-:48!01!O41,8!7!F4?,?-48!:41:?0=48!a,:0-=08!/0!F48=020?;,K!D,D02!01!:01=?48!,/3-1-8=?,=-A48K!:430?:-,208!7!0/.:,=-A48cK!,8;!:434!-1:?0301=,?!248!D.1=48!2-3D-48!3MA-208!

• Y1:4?D4?,?!1.0A48!8-8=03,8!-1=0J?,/48!/0!?0:4J-/,!/0!?08-/.48!/08/0!02!D2,10,3-01=4!/0!O41,8!/0!1.0A,!.?<,1-O,:-M1!

g4?=,20:0?!01!2,!:-./,/,1;,!248!A,24?08!2-J,/48!,!2,!848=01-<-2-/,/!30/-4,3<-01=,2!7!D?4D-:-,?!.1!:,3<-4!01!248!FQ<-=48!/0!:418.34!7!.84!/0!?0:.?848!2-3-=,/48K!,8;!:434!01!02!=?,=,3-01=4!/0!?08-/.48!

• S018-<-2-O,?!,!2,!:-./,/,1;,!,!=?,AI8!/0!,::-4108!08D0:;H-:,8!/0!0/.:,:-M1!,3<-01=,2!• '?0,?!2,![J01:-,!\.1-:-D,2!/02!\0/-4![3<-01=0!• [3D2-,?!2,!D,A-301=,:-M1!8414??0/.:=4?,!7!:?0,?!08=,:-4108!D0?3,101=08!/0!30/-:-M1!/0!?.-/48!• G4=01:-,?!2,8!08:.02,8!010?JI=-:,301=0!0H-:-01=08!7!2,8!0:4,./-=4?;,8!08:42,?08!• Y1A42.:?,?!,!248!A0:-148!01!2,!?0J010?,:-M1!A0J0=,2!

G?4D-:-,?!02!,F4??4!7!2,!0H-:-01:-,!010?JI=-:,K!H,A4?0:-01/4!02!.84!/0!010?J;,8!,2=0?1,=-A,8!7!H4301=,1/4!02!:43D?43-84!7!2,!?08D418,<-2-/,/!30/-4,3<-01=,2!/0!2,8!03D?08,8!7!2,![/3-1-8=?,:-M1!

• Y18=,2,?!D2,:,8!H4=4A42=,-:,8!7!=I?3-:,8!7!220A,?!,!:,<4!30/-/,8!/0!,F4??4!/0!,J.,!01!/0D01/01:-,8!3.1-:-D,208K!:01=?48!/0D4?=-A48!7!1.0A,8!:418=?.::-4108!

• \4/0?1-O,?!2,!-2.3-1,:-M1!.?<,1,!7!:.3D2-?!:41!248!?0P.-8-=48!/0!:41=,3-1,:-M1!2.3;1-:,!A-J01=08K!-1:?0301=,1/4!2,!0H-:-01:-,!7!?0/.:-01/4!248!:48=08!/02!,2.3<?,/4!DR<2-:4!

• Y1=?4/.:-?!:?-=0?-48!/0!0H-:-01:-,!7!/0!o:43D?,!I=-:,p!01!:41=?,=,:-4108!DR<2-:,8!• Y1:?0301=,?!2,!D?08-M1!8,1:-41,/4?,!84<?0!03D?08,8!7!,:=-A-/,/08!:41=,3-1,1=08!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")@>)-,)#+$!,!):)&-)%&!+"),%2+&'(&!

6B!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[2:,1O,?!.1!,3D2-4!:43D?43-84!:-./,/,14K!/0!2,8!-18=-=.:-4108K!2,8!03D?08,8!7!2,8!4?J,1-O,:-4108!84:-,208!:41=?,!02!:,3<-4!:2-3Q=-:4!7!248!0H0:=48!,/A0?848!/0!2,8!1.0A,8!=0:1424J;,8!

• ^04?/01,?!2,8!-18=,2,:-4108!/0!,1=01,8!/0!=020H41;,!3MA-2!P.0!D?4/.O:,1!:41=,3-1,:-M1!020:=?43,J1I=-:,e!H,:-2-=,?!D2,=,H4?3,8!:41E.1=,8!,!248!/-8=-1=48!4D0?,/4?08!

• S4=0??,?!:,<20,/4!02I:=?-:4K!,:=.,2301=0!,I?04!7!:42J,1=0!• &2,<4?,?!.1!G2,1!&8=?,=IJ-:4!/0!Z08,??4224!S48=01-<20!D,?,!02!Q?0,!30=?4D42-=,1,!

g,A4?0:0?!7!D4=01:-,?!2,8!,:=-A-/,/08!,J?,?-,8!/02!\.1-:-D-4!:434!,:=-A-/,/!0:41M3-:,!7!:434!?0:.?84!D,-8,E;8=-:4!

• G4=01:-,?!02!=.?-834!?.?,2!,/0:.,1/4!2,!=?,3,!801/0?-8=,K!2,!J,8=?4143;,!7!2,!:430?:-,2-O,:-M1!/-?0:=,!,J?,?-,!7!J,1,/0?,!:41!30?:,/48!08D0:;H-:48!01!248!1.0A48!/08,??42248!.?<,148!/0!2,!'-./,/!

• G4=01:-,?!2,!H4?3,:-M1!84<?0!,J?-:.2=.?,!0:42MJ-:,K!02!?0:-:2,E0K!02!:.2=-A4!/0!A,?-0/,/08!24:,208!7!2,!:?;,!/0!08D0:-08!7!?,O,8!,.=M:=41,8!

• '?0,?!7!/-H.1/-?!2,!^.=,!/02!m-14!01!2,!O41,!/0!\,?O,JQ1K!+48!%4748!7!j,1/,3,!• Y3D.28,?!2,!:?0,:-M1!/0!F.0?=48!0:42MJ-:48!,=01/-/48!D4?!A0:-148!01!842,?08!,<,1/41,/48!7!

4=?48!08D,:-48!• G4=01:-,?!2,!,:=-A-/,/!,J?4D0:.,?-,!/02!j,??,1:4!/0!N.-1-J.,/,!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0!

6@!

)

)

)-F) #OSJFJ) QMKGKNTF) JO\OUSHTFJKG) JK) KGTMSUTSMFUOVN) SM^FNF) bSK) GK) MK\HK]FN) KN)JO\KMKNUOFG)JK)KbSOQFIOKNTRGP)GKM_OUORGP)_O_OKNJF)Z)UFHOJFJ)JK)_OJF)KN)GSG)^FMMORGP)FGg)URIR)KN)QMR^HKIFG)JK)URNKUTO_OJFJ)Z)IR_OHOJFJ9))

&G) QRGO^HK) [FUKM) JK) -FG) <FHIFG) JK) LMFN) #FNFMOF) SNF) UOSJFJ) IYG) FIF^HK) Z)[F^OTF^HK9)

%-8=M?-:,301=0K! +,8! G,23,8! /0! N?,1! ',1,?-,! F,! =01-/4! .1! D?4:084! /0! :418=?.::-M1!F0=0?4JI104K! /,1/4! :434! ?08.2=,/4! .1,! :-./,/! /0808=?.:=.?,/,! 34?H42MJ-:,! 7!H.1:-41,2301=0K! :41!08:,8,! :,2-/,/!/0!A-/,!01! 8.8!<,??-48! 7!.1,!0L:08-A,! :01=?,2-/,/!01! 2,!'-./,/!j,E,"!

[!D,?=-?! /02!1R:204!F-8=M?-:4! =?,/-:-41,2K! :41!.1!,801=,3-01=4!01!02! <,??-4!/0!m0J.0=,K!P.0K!E.1=4!:41!02!/0!T?-,1,K!:418=-=.701!02!:01=?4!F-8=M?-:4K!2,!D?-30?,!0LD,18-M1!F,:-,!H.0?,!/0!o+,!G4?=,/,p!80!D?4/.:0!,!_1,208!/02!8-J24!XYX!7!01!2,!D?-30?,!3-=,/!/02!XXK!4:.D,1/4!8.024!F,:-,!02!14?=0K!01!.1!D?4:084!A-1:.2,/4!,!2,!:?0,:-M1!/02!G.0?=4!/0!+,!+.O"!G48=0?-4?301=0K!,!D,?=-?!/0! 248!,]48!>CK! 80! -1-:-,!.1!D?4:084!/0!:?0,:-M1!/0!,J2430?,:-4108!.?<,1,8!/-8D0?8,8!7!/0!D42;J4148!/0!A-A-01/,8!D4D.2,?08K! 08D0:-,2301=0K! 01!'-./,/![2=,K! ,2! =-03D4!P.0! 80! ?02201,1!D?4J?08-A,301=0!248!A,:;48!/0!2,!'-./,/!j,E,K!01!2,!O41,!/0!\08,!7!+MD0O"!&1!248!,]48!@CK!80!-1-:-,! .1! D?4:084! /0! D?42-H0?,:-M1! /0! .?<,1-O,:-4108! 3,?J-1,208! 01! 2,! D0?-H0?-,K! P.0! 80!:41842-/,!,!D,?=-?!/0!248!,]48!5CK!3-01=?,8!P.0!24!P.0!80!:418-/0?,!:434!:,8:4!F-8=M?-:4!-1-:-,!.1!D0?;4/4!/0!/0=0?-4?4!7!DI?/-/,!H.1:-41,2!7!80!-1=018-_:,!2,!D?08-M1!-134<-2-,?-,!01!2,!'-./,/!j,E,K!:41!.1!:?0:-3-01=4!-3D4?=,1=0!/0!248!;1/-:08!/0!0/-_:,<-2-/,/!7K!:4180:.01=0301=0K!/0!248!D?0:-48!/02!8.024"!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0!

6$!

&8=0! D?4:084! D.0/0! :,2-_:,?80! :434! /0! oD42-:01=?,2-/,/p! .?<,1,K! :,?,:=0?-O,/4! D4?! 02!oA,:-,/4p!/02!0E0!m0J.0=,fT?-,1,!7!2,!:?0,:-M1!7!:41842-/,:-M1!/0!4=?48!0E08K!:434!H.0!01!8.!34301=4! 02! /0!\08,! 7! +MD0O! 7K!3Q8! ?0:-01=0301=0K! 02! /0! S-0=0! G,23,8"! [2!3-834! =-03D4K!D410! /0! ?02-0A0! .1! :41J2430?,/4!3.7! /-A0?84! 01! :.,1=4! ,! 1-A0208! /0! :,2-/,/! aO41,8!3.7!/0=0?-4?,/,8!H?01=0!,!4=?,8!/0!,2=4!1-A02cK!0P.-D,3-01=48!84:-,208K!7!D0?8-8=01:-,!/0!Q?0,8!:41!14=,<208!:,?01:-,8!F-8=M?-:,8!01!:.,1=4!,!F,<-=,<-2-/,/K!0P.-D,3-01=4!7!80?A-:-48"!+,!H4?3,!/0!:?0:-3-01=4! /0! 2,! :-./,/K! -3D.28,/4! D4?! 2,! D?08-M1! /034J?QH-:,! 7! 2,8! 0LD0:=,=-A,8!-134<-2-,?-,8K!,8;!:434!D4?!2,8!D,?=-:.2,?08!:41/-:-4108!4?4J?QH-:,8!P.0!,H0:=,1!,!2,!:4F08-M1!=0??-=4?-,2K!F,1!D?4D-:-,/4!80?-48!D?4<203,8!/0!:410:=-A-/,/!01=?0!248!<,??-48K!:41!-3D4?=,1=08!:.02248! /0! <4=022,K! :434!01! 02! :,84! /02! -8=34K! ,2! =-03D4!P.0!F,1!/-H-:.2=,/4!.1,! ,/0:.,/,!34A-2-/,/K!,J./-O,/,!D4?!.1,!J08=-M1!D4:4!0H-:-01=0!/02!=?,18D4?=0!DR<2-:4"!!

S0!3,1-_08=,K! ,8;K! 2,! 08:,80O! /0! 8.024! R=-2! 01! 02!30?:,/4K! <-01! D4?! /-_:.2=,/08! /0! J08=-M1!/0<-/4!,!2,!H?,J301=,:-M1!/0!2,!D?4D-0/,/!/02!8.024K!<-01!D4?!02!/08Q1-34!/0!8.8!D?4D-0=,?-48!,1=0! 2,8! 3,2,8! 0LD0:=,=-A,8! ,:=.,208! /0! .1! 30?:,/4! 8,=.?,/4! /0! A-A-01/,8! A,:;,8! ,! ,2=48!D?0:-48K! 4K! 8-3D20301=0K!D4?!8.!,J4=,3-01=4"![!08=0!08:01,?-4!80!8.3,!02!F0:F4!/0!P.0! 2,!,/P.-8-:-M1! /0! 8.024! ?R8=-:4! :41! 0LD0:=,=-A,8! /0! ?0:2,8-_:,:-M1! ?0D?0801=,! .1! 2.J,?! 80J.?4!/41/0!/0D48-=,?! -1A0?8-4108! H.0?,!/02! :41=?42! _8:,2!/0! 2,8!D2.8A,2;,8"! +,! -1=0?A01:-M1!/0! 2,8!,/3-1-8=?,:-4108!01!02!30?:,/4!/02!8.024!7!2,!J08=-M1!.?<,1;8=-:,!F,!8-/4!-10_:,O!7K!01!<.01,!30/-/,K!80J.-/-8=,!/0!2,!-1-:-,=-A,!D?-A,/,"![!D08,?!/0!0224K!01!248!R2=-348!D2,108!J010?,208!/0!4?/01,:-M1!.?<,1,!80!F,!F0:F4!.1!/08=,:,<20!08H.0?O4!D4?!01H?01=,?!08=,!D?4<203Q=-:,"!

W1,! :-./,/! P.0! ,8D-?,! ,! .1! 34/024! 0P.-2-<?,/4K! -1=0J?,/4?! 7! 848=01-<20! /0<0! /4=,?80! /0!08=?,=0J-,8! /0! D2,1-_:,:-M1! /0! 2,! 4?/01,:-M1! .?<,1;8=-:,K! :41! :?-=0?-48! P.0! 80! ,20E01! /0!-10?:-,8!<.?4:?,=-O,/,8!7!8-1!A-8-M1!/0!H.=.?4K!=,1!,??,-J,/,8K!:434!80!F,!80],2,/4K!=,1=4!01!2,![/3-1-8=?,:-M1!:434!01!02!03D?08,?-,/4"!!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0!

65!

+,! D2,1-_:,:-M1! =0??-=4?-,2K! <,8,/,! 01! A,24?08! :;A-:48! 7! :41=,1/4! :41! 2,! -3D2-:,:-M1! /0! 2,!:-./,/,1;,! 01! 02! D?4:084K! D4/?Q! /,?! 2.J,?! ,! .1! .?<,1-834! :43D,:=4K! D,?=-:-D,=-A4K!F0=0?4JI104! 7! 848=01-<20! P.0! D41J,! 01! A,24?! 2,8! 1.0A,8! :01=?,2-/,/08! ,! =?,AI8! /0! 2,!J010?,:-M1! 7! 30E4?! ,D?4A0:F,3-01=4! /0! 08D,:-48! DR<2-:48K! 2,! /4=,:-M1! /0! 0P.-D,3-01=48!84:-,208!0!-1H?,08=?.:=.?,8"!

+,!:,2-/,/!/0!A-/,!01! 248!<,??-48!14!08!8M24!.1!,8.1=4!/0!D2,1-H-:,:-M1!.?<,1;8=-:,K!8-14!P.0!I8=,! F,! /0! D?4D-:-,?! 2,! 30E4?,! /0! 2,8! :41/-:-4108! /0! A-/,K! 2,! A-,<-2-/,/! /0! 2,8! ,:=-A-/,/08!0:41M3-:,8!P.0!01!02248!80!/08,??422,1!7!02!801=-/4!/0!-/01=-/,/!7!D0?=0101:-,!:43D,?=-/4"!

&2! /IH-:-=! /0! A-A-01/,8! /0! D?4=0::-M1! 4H-:-,2! D.0/0! :43D018,?80! :41! .1,! D42;=-:,! /0!?0F,<-2-=,:-M1K! P.0K! 8-1! 10:08-/,/! /0! ,3D2-,?! 02! 8.024! R=-2K! ,.301=0! 2,8! D48-<-2-/,/08! /0!0/-H-:,:-M1K! 2-<0?,1/4! 08D,:-48! D,?,! .84! DR<2-:4! 7! /4=,:-4108K! 30/-,1=0! 2,! :418=?.::-M1! 01!,2=.?,"! [/03Q8K! 08,! D42-=-:,! /0<0?Q! D?4D-:-,?! .1,! 34A-2-/,/! 848=01-<20! P.0! :418-J,! 2,!10:08,?-,! :410:=-A-/,/! 01=?0! 248! /-8=-1=48! <,??-48K! ,8;! :434! 01=?0! 2,! :-./,/! 7! 8.! 01=4?14K!08=?.:=.?,1/4K!/0!08,!3,10?,K!.1,!:-./,/!<-01!,?=-:.2,/,K!7!,.301=,1/4! 2,!:,2-/,/!/0!A-/,!01!248!/-8=-1=48!<,??-48!7!/-8=?-=48"!!

&8!D?0:-84K!,8-3-834K!,2:,1O,?!3,74?!0_:-01:-,!01! 2,8!D42;=-:,8!/0!8.024!7!A-A-01/,K!/4=,/,8!:?M1-:,301=0!/0!08:,848! ?0:.?848!D,?,! 2,!J08=-M1!.?<,1;8=-:,K!,! =?,AI8!/0!.1,! :44?/-1,:-M1!0H0:=-A,!01=?0!2,8!/-8=-1=,8!,/3-1-8=?,:-4108!DR<2-:,8K!:.7,8!/0:-8-4108!841!/0=0?3-1,1=08"

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0!

#C!

!3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

&8=,<20:0?!.1!D2,1!/0!30E4?,!/0!2,!:,2-/,/!.?<,1,!01!=4/,!2,!:-./,/!7K!D,?=-:.2,?301=0K!01!248!08D,:-48!/0=0?-4?,/48!7!248!<,??-48!D0?-HI?-:48!

• \0E4?,?!2,8!01=?,/,8!,!2,!:-./,/K!03<0220:-01/4!8.8!,::0848!• \0E4?,?!2,!2-3D-0O,K!2,!?0:.D0?,:-M1!7!,??0J24!/0!2,/0?,8!7!?-8:48K!0!-1=018-H-:,?!2,!-18D0::-M1!=I:1-:,!/0!3.?48!• +20A,?!,!:,<4!.1!D2,1!/0!?0D48-:-M1!/0!A-A-01/,8!01!<,??-48!!• ^0842A0?!248!D?4<203,8!/0!/018-/,/K!30/-,1=0!0/-H-:,:-M1!01!,2=.?,K!,!:,3<-4!/0!3,74?!/-8D48-:-M1!/0!08D,:-48!DR<2-:48"!%,:0?!D?470:=4!D-24=4!01!.1!<,??-4K!P.0!D4/?;,!80?![?01,208!

• G4=01:-,?!30/-/,8!.?J01=08!/0!?0J010?,:-M1!-1=0J?,2!.?<,1,!D,?,!-1:?0301=,?!2,!:,2-/,/!7!2,!,=?,::-M1!/0!2,!O41,!',1=0?,8fG.0?=4!

• '?0,?!08D,:-48!D42-A,201=08K!.14!:0??,/4!7!4=?4!,<-0?=4K!:41!,H4?4!8.H-:-01=0!D,?,!J?,1/08!,:41=0:-3-01=48!:41!.848!,2=0?1,=-A48"!

• G4=01:-,?!30/-/,8!.?J01=08!/0!?0J010?,:-M1!-1=0J?,2!.?<,1,!D,?,!30E4?,?!2,!:,2-/,/!7!2,!,=?,::-M1!/0!2,!O41,!m0J.0=,fT?-,1,fG0?4E4!

• ^0.<-:,?!248!08D,:-48!-1/.8=?-,208!-1:?.8=,/48!/0!&2!S0<,/,2!7!\-220?!j,E4!• ^0,2-O,?!.1!:0184!/0!A-A-01/,8!A,:;,8!• [D?4A0:F,?!2,8!-18=,2,:-4108!/0!248!:01=?48!0/.:,=-A48!DR<2-:48!D,?,!,D,?:,3-01=48!8.<=0??Q1048!• j.8:,?!.<-:,:-M1!,2=0?1,=-A,!,!2,!/0D.?,/4?,!/0!j,??,1:4!S0:4!

Y1:?0301=,?!2,!/4=,:-M1!/0!0P.-D,3-01=48!/0!=4/4!=-D4!01!248!<,??-48K!/0!3,10?,!P.0!80!30E4?0!2,!:,2-/,/!/0!A-/,K!,!=?,AI8!/0!34/0248!/0!/08,??4224!P.0!0P.-2-<?01!2,!:?0:-01=0!=01/01:-,!,!2,!/-8D0?8-M1!.?<,1,!

• [.301=,?!2,!8.D0?H-:-0!,?<42,/,!7!A0?/0!01!=4/48!248!<,??-48K!:41!H24?,!24:,2!7!01/I3-:,K!!01!24!D48-<20K!/0!3,10?,!P.0!30E4?0!2,!<-4/-A0?8-/,/K!D?4D-:-,1/4!08D,:-48!/0!01:.01=?4!7!?02,:-M1!

• '?0,?!01!=4/48!248!<,??-48!:01=?48!:;A-:48!D42-A,201=08!:41!/4=,:-4108!D,?,!,:=-A-/,/08!/0D4?=-A,8K!:.2=.?,208K!3.8-:,208!a8,2,8!/0!018,74cK!,?=;8=-:,8K!0=:"K!7!08D0:;H-:,301=0!/08=-1,/48!,!EMA0108!7!3,74?08!

• Z08,??422,?!.1,!0LD0?-01:-,!D-24=4!01!+,!Y820=,!D,?,!D4=01:-,?!02!/08,??4224!:43.1-=,?-4!7!8.!D?470::-M1!D0?841,2K!=0??-=4?-,2!7!0:41M3-:,K!H.1/,301=,/4!01!2,!=?,/-:-M1!7!2,!-114A,:-M1!

• (D=-3-O,?!02!.84!/0!248!:01=?48!0/.:,=-A48!DR<2-:48K!D48-<-2-=,1/4!,:=-A-/,/08!2R/-:,8!7!:.2=.?,208!/0!248!<,??-48K!/0!3,10?,!P.0!80,1!:01=?48!?02,:-41,208!D,?,!=4/48!248!:-./,/,148!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")A>)-,)#+$!,!)&')0$0)2,33+"0!

#)!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[2:,1O,?!.1,!3,74?!A0?=0<?,:-M1!01=?0!248!<,??-48K!,H?41=,1/4!248!,:=.,208!D?4<203,8!/0!:410:=-A-/,/!!7!H,A4?0:-01/4!.1!8-8=03,!0H-:,O!/0!34A-2-/,/!.?<,1,!:41!.1!=?,18D4?=0!DR<2-:4!-1=0J?,/4K!<-01!J08=-41,/4K!0H-:-01=0K!80J.?4!7!:M34/4!

• S4=0??,?!2,!,.=4A;,!01!D.1=48!:2,A0!7!30E4?,?!02!/-3018-41,3-01=4!/0!8.8!1./48!A-,?-48!• \0E4?,?!2,!:410L-M1!A-,?-,!01=?0!'-./,/![2=,!7!'-./,/!j,E,!• Y1:?0301=,?!248!:4??0/4?08!/0!A;,!?QD-/,!D,?,!=?,18D4?=08!:420:=-A48!:434!30/-/,!?0J.2,/4?,!7!/-8.,84?-,!/02!.84!/02!,.=43MA-2!D?-A,/4!

• \0E4?,?!2,!J08=-M1!/02!=?,18D4?=0!DR<2-:4!,!=?,AI8!/0!2,!D.08=,!01!3,?:F,!/0!D?470:=48!:434!2,!J.,J.,f0LD?I8K!02!=?,1A;,!.?<,14!4!02!30=?4K!:41!:?-=0?-48!/0!848=01-<-2-/,/!

• \0E4?,?!2,!J08=-M1!/0!N.,J.,8!\.1-:-D,208K!:41!.1,!=?,18H4?3,:-M1!4?J,1-O,=-A,K!-1:4?D4?,1/4!84:-48!=0:142MJ-:48!0LD0?-301=,/48!!0!-1=?4/.:-01/4!34/0248!/0!J08=-M1!/02!=?,18D4?=0!DR<2-:4!0L-=4848!01!4=?48!:41=0L=48!.?<,148!

• &2,<4?,?!.1!08=./-4!4?-J01f/08=-14!01!/08D2,O,3-01=48!.?<,148!D,?,!,:=.,2-O,?!2,!?0/!/0!2;10,8!• ^0842A0?!02!D?4<203,!=I:1-:4!/0!2,!:,D,:-/,/!A-,?-,!/02!-8=34!• +20A,?!,!:,<4!,::-4108!=01/01=08!,!30E4?,?K!/0!3,10?,!8.8=,1:-,2K!2,!:410:=-A-/,/!01=?0!248!/-8=-1=48!<,??-48!/0!2,!'-./,/!7!,!H,:-2-=,?!2,!-1=0?,::-M1!7!:414:-3-01=4!3.=.4!

• Y1:?0301=,?!02!08D,:-4!DR<2-:4!/08=-1,/4!,2!D0,=M1K!,!2,!<-:-:20=,!7!,2!=?,18D4?=0!:420:=-A4K!01!/0=?-301=4!/02!/08=-1,/4!,2!=?,18D4?=0!D?-A,/4!

• g,A4?0:0?!2,!-1=0?34/,2-/,/!01=?0!2,8!H4?3,8!/0!=?,18D4?=0!• [/4D=,?!/0!.1,!D42;=-:,!/0!,D,?:,3-01=48!P.0!H,A4?0O:,!2,!D?-4?-/,/!,!?08-/01=08!

Y1:?0301=,?!2,8!/4=,:-4108!D,?,!H4?3,8!,2=0?1,=-A,8!/0!34A-2-/,/K!=,208!:434!O41,8!D0,=41,208K!.84!/0!<-:-:20=,8!7!4=?48!

• '?0,?!.1,!?0/!/0!:,??-208!:41!,D,?:,3-01=48!D,?,!<-:-:20=,8!• Y1:?0301=,?!2,!D0,=41,2-O,:-M1!7!4=?,8!30/-/,8!D,?,!?,201=-O,?!02!=?QH-:4!01!2,8!:,2208K!30E4?,1/4!8.!:,2-/,/!,3<-01=,2!

• Y3D2,1=,?!8-8=03,8!/0!=?,18D4?=0!DR<2-:4!A0?=-:,2!a,8:0184?08!7!08:,20?,8!30:Q1-:,8c!D,?,!2,!D,?=0!,2=,!/0!2,!:-./,/!

• G4=01:-,?!2,8!A;,8!A0?/08!01!=4/,8!2,8!:,??0=0?,8!P.0!:410:=,1!<,??-48!7!O41,8!/0!2,!:-./,/!• &2,<4?,?!.1!G2,1!/0!\4A-2-/,/!W?<,1,!

)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,!

#6!

!

)

-F) #OSJFJ) JOGQRNK) JK) MKUSMGRG) NFTSMFHKG) Z) KGQFUORG) Qe^HOURG) bSK) NR) KGTYN)GS\OUOKNTKIKNTK) FQMR_KU[FJRG) QFMF) KH) JOG\MSTKP) HF) URN_O_KNUOF) UOSJFJFNFP) HF)FUTO_OJFJ)\gGOUF)Z)KH)JKQRMTK9)

-F)MKUSQKMFUOVN)JK)HRG)KGQFUORG)Qe^HOURG)KG)SN)FGQKUTR)UHF_K)QFMF)HF)IK]RMF)JK)HF)UFHOJFJ)JK)_OJF)JK)HRG)UOSJFJFNRG9)

+,8! G,23,8! /0!N?,1!',1,?-,! =-010!.14!/0! 248!30E4?08! :2-3,8! /02!3.1/4"! S.8! <,E48! ;1/-:08!?02,=-A48!/0!:41=,3-1,:-M1!,3<-01=,2K!8.8!?0:.?848!1,=.?,208K!8.!0L=0184! 2-=4?,2!7!02!01=4?14!-18.2,?! 01! 02! P.0! 80! 01:.01=?,K! 2,! :41A-0?=01! 01! .1,! :-./,/! :41! 0L:0D:-41,208! :41/-:-4108!D,?,!.1,!A-/,!/0!:,2-/,/"!!

W1,!:-./,/!P.0!,8D-?,!,!2,!30E4?,!D0?3,101=0!/0!2,!:,2-/,/!/0!A-/,!/0!8.8!F,<-=,1=08!F,!/0!D2,1=0,?80K!:434!=,?0,!:420:=-A,K!02!?0=4!/0!2,!D.08=,!01!A,24?!/0!8.8!?0:.?848!1,=.?,208!7!/02!08D,:-4! DR<2-:4"! +,!'-./,/!D4800!.1! ,3D2-4! -1A01=,?-4! /0! 08D,:-48! /-8D41-<208! .! 4=?48! P.0!D4/?;,1!F,<-2-=,?80!7!/0<0?;,1!4?/01,?80!:41!:?-=0?-48!:2,?48!84<?0!8.!.84!7!8.!848=01-<-2-/,/*!=4/4!02!,3D2-4!7!/-A0?84!2-=4?,2K!S,1!n48I!/02!b2,34K!+,!Y820=,K!02!j,??,1:4!/02!N.-1-J.,/,K!4!02!D4=01:-,2!,1-224!A0?/0!/0!2,!:-./,/K!841!0E03D248!/0!.1,!14:-M1!/0!08D,:-4!DR<2-:4!14!2-3-=,/,!,2!=?,/-:-41,2!:41:0D=4!/0!D,?P.08!7!E,?/-108K!01!2,!P.0!80!-1:2.701!=,3<-I1!08D,:-48!.?<,148!:434!02!,1=-J.4!&8=,/-4!Y18.2,?K!4!02!=?,O,/4!A-,?-4"!!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,!

##!

&1!.1,!:-./,/!D018,/,!/08/0!2,!0P.-/,/K!08!D48-<20!P.0!248!08D,:-48!DR<2-:48!80,1!.=-2-O,/48!D4?!3Q8!D0?841,8!/0!3,10?,!,.=M143,K!=?,18H4?3,1/4!02!01=4?14!.?<,14!D,?,!P.0!80!,/,D=0!,!2,!A-/,!:4=-/-,1,"!!

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

W1,!:-./,/!F,<-=,<20!/0<0!,H?41=,?K!=,3<-I1K!D42;=-:,8!/0!H4301=4!/0!,:=-A-/,/08!/08=-1,/,8!,!2,!30E4?,! /0! 2,! 8,2./! /0! 8.8! F,<-=,1=08"! +,! :?0:-01=0! :41:-01:-,! 84<?0! 02! :.-/,/4! D0?841,2!0L-J0!:?0,?! 2,8!:41/-:-4108!D,?,!P.0! 2,8! -18=-=.:-4108!7! 248!:420:=-A48!3Q8!/-1Q3-:48!D.0/,1!J010?,?!.1!:2-3,!84:-,2!H,A4?,<20K!30/-,1=0!,:=-A-/,/08!P.0!D?43.0A,1!2,!8,2./!7!02!<-0108=,?!/0!2,8!D0?841,8K!01=01/-/,8!:434!.1,!10:08-/,/!-1/-A-/.,2!7!.1!?0=4!:420:=-A4"!!

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

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,!

#9!

+48!.848!/0!4:-4!7!:.2=.?,208!/0<01!80?!34=-A4!/0!.1,!,/0:.,/,!.=-2-O,:-M1!/0! 248!08D,:-48!DR<2-:48! 7! /0<01K! =,3<-I1K! =010?! 01! :.01=,! 2,! :41=,3-1,:-M1! ,:R8=-:,! 7! 248! D?4<203,8! /0!8,2./!,3<-01=,2!7!/0!34A-2-/,/!P.0!J010?,1"!&8!0A-/01=0!2,!H,2=,!/0!08D,:-48!,/0:.,/48!D,?,!2,!:020<?,:-M1!/0!J?,1/08!0A01=48!01!.1!3,?:4!/0!80J.?-/,/!7!848=01-<-2-/,/K!D4?! 24!P.0!80!10:08-=,! ,H?41=,?! /0_1-=-A,301=0! 02! /0<,=0! 84<?0! 8.! .<-:,:-M1! 7K! 08D0:;_:,301=0K! /02!',?1,A,2K!4=?4!/0!248!8;3<4248!/0!2,!'-./,/"!

+,! 8,2./K! 2,! :4F08-M1! 84:-,2! 7! 2,! D?Q:=-:,! ?08D418,<20! /02! /0D4?=0! 08=Q1! -1/-842.<20301=0!.1-/,8"! +,! ,:=-A-/,/! /0D4?=-A,! 08=Q! 030?J-01/4! :434! .14! /0! 248!30/-48! D?-A-20J-,/48! D,?,!4?J,1-O,?! 2,! :41A-A01:-,! 01! 2,! /-A0?8-/,/! /0! .1,!3,10?,! HQ:-2! 7! 801:-22,K! 8-01/4! .1,! /0! 2,8!<,808! ,! =010?! 01! :.01=,! D,?,! H4?=,20:0?! 02! :,D-=,2! 84:-,2! /0! 2,! '-./,/"! &2! /0D4?=0! ,D,?0:0!=,3<-I1!:434!.1!=03,!:2,A0!01!2,!,D?4D-,:-M1!:-./,/,1,!/02!08D,:-4!DR<2-:4K!7!01!2,!30E4?,!/0!2,8!:,D,:-/,/08!H;8-:,8K! -1=020:=.,208!7!?02,:-41,208!/0!=4/,!2,!D4<2,:-M1"!&8=,8!_1,2-/,/08!84:-,208! 80! 8.3,1! ,! 2,8! H.1:-4108! =?,/-:-41,208! /02! /0D4?=0! :434! 80:=4?! 0:41M3-:4! 7!:430?:-,2!-114A,/4?K!7!:434!D?470::-M1!0L=0?1,!/0!2,!'-./,/"!!

+,!D2,1-_:,:-M1K!02!/-80]4!7!2,!J08=-M1!/0!2,!D?Q:=-:,!/0D4?=-A,!01!2,!'-./,/!/0<01!:41=03D2,?!.1! 01H4P.0! /0! J4<-0?14! 3.1-:-D,2K! 14! 8M24! :01=?,/4! 01! 248! /0D4?=08! D?4H08-41,208! /0!:43D0=-:-M1K! 8-14! 3Q8! 01! 248! /0D4?=08! /0! <,80! 7! /0! 4:-4K! :41E.J,1/4! 2,! /-A0?8-M1! 7! 2,!H4?3,:-M1K!,8;!:434!01!248!/0D4?=08!?02,:-41,/48!:41!02!3,?"!+,8!-1H?,08=?.:=.?,8!0/.:,=-A,8!7! /0D4?=-A,8! 841! 4=?4! Q3<-=4! /0! 080! 08D,:-4! DR<2-:4! :41! J?,1/08! D4=01:-,2-/,/08! /0! .84!:43D20301=,?-4!D,?,!=4/,!2,!:-./,/,1;,K!:41=?-<.701/4!,8;!,!2,!H4?3,:-M1!/02!=0E-/4!,84:-,=-A4!/0!2,!'-./,/"!!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

!

!

=&#=")B>)-,)#+$!,!):)-,)#,-+!,!)!&);+!,!

#>!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[H?41=,?!.1,!4?/01,:-M1!.?<,1;8=-:,!848=01-<20!0!-1=0J?,/4?,!P.0!:41=03D20!2,!?0J010?,:-M1!/0!248!08D,:-48!7!?0:.?848!1,=.?,208!!7!8.!,D?4A0:F,3-01=4!D,?,!/-8H?.=0!/0!248!:-./,/,148!

• Z08,??422,?!01!8.!-1=0J?-/,/!02!D?470:=4!/0!?0J010?,:-M1!/02!:,.:0!/02!N.-1-J.,/,!• Z08,??422,?!248!D?470:=48!/0!S,1!n48I!/02!b2,34!7!/02!j,??,1:4!/0!2,!j,2201,!• '?0,?!.1!0:4D,?P.0!01!&2!S,2=4!/02!d0J?4K!01!:42,<4?,:-M1!:41!02!',<-2/4!• '?0,?!02!G,?P.0!/0!2,!\R8-:,!01!&2!^-1:M1!• '?0,?!.1!,1-224!A0?/0!P.0!:-?:.1/0!2,!:-./,/!• '?0,?!.1!D,?P.0!30/-4,3<-01=,2!01!'414!S.?!• G4=01:-,?!02!D,230?,2!3.1-:-D,2!/0!&2!+,884!• [:41/-:-41,?!2,!3,74?!:,1=-/,/!D48-<20!/0!08D,:-48!DR<2-:48!:41!0P.-D,3-01=48!,/0:.,/48!7!8.H-:-01=08!D,?,!02!/-8H?.=0!/0!1-]48K!EMA0108!7!

3,74?08K!F,<-2-=,1/4K!-1:2.84K!08D,:-48!,E,?/-1,/48!D,?,!3,8:4=,8!• ^0F,<-2-=,?!2,!'.0A,!/0!248!',1,?-48K!01!&2!'41H-=,2K!:41!.1!,.2,!-1=0?D?0=,=-A,!• [<?-?!801/0?48!14!,8H,2=,/48!/0!:-?:.1A,2,:-M1K!.1-01/4!02!Q?0,!&2!'41H-=,2f^0-1,!S4H;,!

G410?!01!A,24?!08D,:-48!DR<2-:48!8-1!.84!:41:?0=4!

• '?0,?!.1!J?,1!:01=?4!/0D4?=-A4!7!84:-4:.2=.?,2!01!02!,:=.,2!&8=,/-4!Y18.2,?!• ^0:.D0?,?!2,!j,80!d,A,2!:434!1.0A4!08D,:-4!D,?,!248!:-./,/,148K!D./-I1/480!.<-:,?K!,/03Q8K!01!8.8!-18=,2,:-4108K!02!,=?,P.0!/0!:?.:0?48!• %,<-2-=,?!-18=,2,:-4108!D,?,!/0D4?=-8=,8!/0!,2=4!?01/-3-01=4K!,D?4A0:F,1/4!2,!',8,!/02!d-]4!7!2,!'-./,/!Z0D4?=-A,!N?,1!',1,?-,!• '418=?.-?!.1!:01=?4!:;A-:4!7!:.2=.?,2!01!2,8!,1=-J.,8!/0D01/01:-,8!/0!2,!(TG!• G410?!01!A,24?!248!:,8=-2248!/0!2,!'-./,/!!a',8=-224!/0!+,!+.OK!/0!\,=,K!/0!S,1!'?-8=M<,2K!/0!S,1!g?,1:-8:4K!j,=0?;,!/0!S,1!n.,1c!/Q1/4208!

.=-2-/,/!:41!:01=?48!:;A-:48K!3.80;8=-:48!4!:.2=.?,208K!H,A4?0:-01/4!2,!D48-<-2-/,/!/0!.1,!?.=,!/0!:,8=-2248!/0!2,!'-./,/!• ^0:.D0?,?!02!%48D-=,2!/0!S,1!\,?=;1!D,?,!2,!:?0,:-M1!/0!.1!\.804K!'01=?4!'.2=.?,2!4!'01=?4!S4:-48,1-=,?-4!• '?0,?!.1!D,?P.0!D0?-.?<,14!01!02!,1=-J.4!,:.,?=02,3-01=4!\,1.02!+4-8!• ^0.<-:,?!02!'.,?=02!/0![A-,:-M1!/0!G,804!/0!'F-2!D,?,!8.!-1=0J?,:-M1!01!2,!=?,3,!.?<,1,!/0!\08,!7!+MD0O!:434!08D,:-4!2-<?0!0P.-D,/4!/0!

/4=,:-4108!D,?,!2,!:-./,/!

&2-3-1,?!<,??0?,8!P.0!/-H-:.2=,1!2,!,::08-<-2-/,/!.1-A0?8,2!01!02!08D,:-4!DR<2-:4!7!0/-H-:-48!

• S.D?-3-?!<,??0?,8!H;8-:,8!7!,?P.-=0:=M1-:,8!7!,/,D=,?!248!0P.-D,3-01=48!D,?,!D0?841,8!:41!34A-2-/,/!?08=?-1J-/,K!7!02,<4?,?!.1,!J.;,!/0!80?A-:-48!,!=,2!0H0:=4"!

• '?0,?!2,!(H-:-1,!\.1-:-D,2!/02!Z-8:,D,:-=,/4!

\0E4?,?!02!D,-8,E0!.?<,14!!/4=Q1/420!/0!0P.-D,3-01=4!7!34<-2-,?-4!,/0:.,/48!01!02!08D,:-4!DR<2-:4K!D,?,!.84!/0!2,!:-./,/,1;,!

• '?0,?!.1!:43-=I!-1/0D01/-01=0!/0!08=I=-:,!/0!2,!:-./,/K!/0!:,?Q:=0?!,8084?K!:418.2=-A4!7!3.2=-/-8:-D2-1,?!• [D2-:,?!08=?-:=,301=0!2,!14?3,=-A,!84<?0!D,-8,E0!.?<,14!• '?0,?!2,!G42-:;,!/0!G,-8,E0!W?<,14!• G?4D-:-,?!2,8!,:=-A-/,/08!,?=;8=-:,8!/0!=4/4!=-D4!01!2,!:,220!

g4301=,?!2,8!,:=-A-/,/08!DR<2-:,8!7!D?-A,/,8!P.0!D?43.0A,1!2,!8,2./K!02!<-0108=,?!7!2,!?02,:-M1!01=?0!248!:-./,/,148!

• g,A4?0:0?!2,!D?Q:=-:,!/0D4?=-A,!7!2,!,:=-A-/,/!H;8-:,!D,?,!=4/48!248!80J301=48!/0!0/,/K!01!08D,:-48!DR<2-:48!• W=-2-O,?!02!08D,:-4!1,=.?,2!/0!S,1!+4?01O4!4!S-0=0!G,23,8!:434!2.J,?!/0!4:-4!7!/0D4?=0!7!:?0,?!.1,!:-./,/!/0D4?=-A,!/0!,2=4!1-A02!• '?0,?!2,![J01:-,!/0!S,2./!GR<2-:,!7!02!'4180E4!/0!S,2./!/0!+,8!G,23,8!/0!N?,1!',1,?-,!• G4=01:-,?!2,!80J.?-/,/!:-./,/,1,!-1:2.8-A,!:41!:?-=0?-48!/0!D?0A01:-M1K!D?4L-3-/,/K!-130/-,=0OK!:44D0?,:-M1!7!A-8-<-2-/,/!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

#B!

!

!

=&#=")6>)-,)#+$!,!):)&-)%,3!

)

)

&H)HOTRMFH)JK)HF)#OSJFJ)Z)HRG)KGQFUORG)NFTSMFHKG)bSK)HR)ONTKWMFN)GRNP)KN)HF)FUTSFHOJFJP)SNF) GSUKGOVN) JK) TMFIRG) JOGURNTONSRGP) JK) JOGTONTF) URN\OWSMFUOVN) Z) JO_KMGOJFJ) JK)SGRGP)bSK)JKIFNJFN)SNF)RMJKNFUOVN)Z)IK]RMFP)URN)SNF)_OGOVN)ONTKWMFHP)URIQFMTOJF)Z)GRGTKNO^HK9))

&H) IFM) KG) SNF) GKcF) JK) OJKNTOJFJ) JO\KMKNUOFJRMF) Z) TMFNG\RMIFJRMF) JK) HF) _OJF)UOSJFJFNF9)

&2! 2-=4?,2! /0! 2,! '-./,/! D.0/0! 01=01/0?80! :434! .1,! 8.:08-M1! /0! =?,348! /-8:41=-1.48K! /0!/-8=-1=,! :41_J.?,:-M1! 7! /-H0?01=08! .848K! 7! :41! .1! 1-A02! /0! ,D?4A0:F,3-01=4! 4! /0=0?-4?4! 01!H.1:-M1K!<Q8-:,301=0K!/0!2,8!08=?.:=.?,8!A-,?-,8!7!D4?=.,?-,8"!!

+,8! G,23,8! /0! N?,1! ',1,?-,! 80! ,8-01=,! 84<?0! .1! =0??-=4?-4! D0:.2-,?"! &L-8=0! .1,! D2,=,H4?3,!<,E,K!/41/0!80!F,!/08,??422,/4!2,!:-./,/!=?,/-:-41,2!01!/-?0::-M1!8.?f14?=0K!D0?4!2,!0L=018-M1!F,:-,!02!-1=0?-4?!F,!-1:4?D4?,/4!.1,!D2,=,H4?3,K!,!3,74?!,2=-=./!=4D4J?Q_:,!a'-./,/![2=,cK!:41!<,??,1:48! 01! /-?0::-M1! 08=0f408=0"! &8=,! :,?,:=0?;8=-:,! F,! D?4A4:,/4K! F-8=M?-:,301=0K! .1,!8-=.,:-M1!/0!/-H;:-2!,::084!,2!2-=4?,2K!<,E4!7!,?01484!a,!0L:0D:-M1!/0!+,!Y820=,cK!7!:41!.1!3,?!14!0L:08-A,301=0!<,=-01=0K!P.0!80!F,!-/4!=?,18H4?3,1/4!,!24!2,?J4!/02!=-03D4"!!

[!_1,208!/0!248!,]48!BC!/02!8-J24!XXK!2,!'-./,/!80!0LD,1/0!F,:-,!02!3,?K!4<=01-01/4!1.0A48!=0??0148!D,?,!.?<,1-O,?K!,!D,?=-?!/02!G2,1!G,?:-,2!/0!'-./,/!/02!\,?K!01!)5B#K!7!/02!G2,1!G,?:-,2!/0! 2,! [A01-/,!\,?;=-3,! /02! d4?=0K! /0! )5B>"! &8=,! ,D0?=.?,! ,2!3,?! 8-J1-_:M! 02! :43-01O4! /02!

=&#=")6>)-,)#+$!,!):)&-)%,3)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

#@!

!

!

=&#=")6>)-,)#+$!,!):)&-)%,3!

/08D0J.0!/0! 2,! H,:F,/,! 4?-01=,2K! P.0! ,20E,! 02!3,?! /02! ?08=4! /0! 2,! .?<0K! /0_1-01/4! 248! =?08!F0:F48!3Q8!8-J1-_:,=-A48!01!2,!1.0A,!:41_J.?,:-M1!/0!2,!:-./,/!7!02!/0=0?-4?4!/02!2-=4?,2!:434!2.J,?!/0!.84!.?<,14"!!

&2! D?-30?4! F,! 8-/4! 2,! ,3D2-,:-M1! /02! G.0?=4! a08D-JM1K! 3.0220! /0! :41=010/4?08K! 3.0220!/0D4?=-A4c! P.0! F,! ,H0:=,/4! 14=,<20301=0! ,! 2,! D2,7,! /0! +,8! [2:,?,A,10?,8K! 30?3,1/4!D48-<-2-/,/08!D,?,!02!<,]4!7!02!4:-4"!&2!80J.1/4K!2,8!,.=4A;,8!2-=4?,208!/0!J?,1!D084!7!/018-/,/!/0! =?Q_:4K!P.0!F,1!/-H-:.2=,/4!02! ,::084!,2!3,?K! 0L=01/-I1/480!08=0!0H0:=4!F,:-,!02! S.?K! +,!+,E,!7!:48=,!/0!n-1Q3,?"!r!.1!=0?:0?!F0:F4!?02,:-41,/4!:41!02!,1=0?-4?K!08!2,!:?0,:-M1!/0!.1,!H?,1E,!/0!0/-_:,:-M1!:41!-3D4?=,1=0!A42.301!/0!0/-_:,<-2-/,/!7!01!,2=.?,K!P.0!F,!<24P.0,/4!2,!A-8-M1!7!02!:41=,:=4!/0!2,!'-./,/!F-8=M?-:,!:41!02!3,?"!!

G4?!4=?4!2,/4K!2,!D01;18.2,!/0!+,!Y820=,!F,!=01-/4!.1!.84!3,?J-1,2K!:.,1/4!14!,J?08-A4K!P.0!:42-8-41,!H?41=,2301=0!:41!8.!/0:2,?,:-M1!/0!08D,:-4!1,=.?,2*! -18=,2,:-4108!3-2-=,?08K!1R:2048!F,<-=,/48! P.0! H.0?41! 803-:2,1/08=-148K! :434! +,8! '424?,/,8K! :F,<42-834! 01! &2! '41_=,2! 7!:,1=0?,8!/0!0L=?,::-M1!/0!3,=0?-,2!DI=?04K!01=?0!4=?48"!!

+,!8-1J.2,?-/,/!/0! 2,!'-./,/K!P.0!:418=-=.70!.1!D4=01:-,2!D,-8,E;8=-:4!/0!J?,1!A,24?K!841!8.8!/48!H?01=08!3,?;=-348!4D.08=48K!.14!,2!,<?-J4!4?-J-1,2!/0!+,8!Y820=,8K!7!4=?4!-1=0J?,/4!D4?!2,!D2,7,!/0!+,8!',1=0?,8K!D?4=0J-/,!D4?!.1,!H4?3,:-M1!J042MJ-:,!8.30?J-/,!7!01J24<,/,!01! 2,!<,F;,!/0!&2!'41_=,2K!.1!D,?,E0!/0!,2=;8-3,!<0220O,!7!A,24?08!1,=.?,208! =,1!020A,/48!P.0!841!?0:414:-/48!:434!+.J,?08!/0!Y1=0?I8!'43.1-=,?-4"!!

+,!:,?01:-,!/0!.1,!A-8-M1!-1=0J?,2!7!:43D,?=-/,!/0!8.!?02,:-M1!:41!02!3,?!08!F47!01!/;,!.14!/0!248!D?-1:-D,208!?0=48!,!,H?41=,?!D4?!2,!'-./,/"!Z0=0?3-1,/,8!-1=0?A01:-4108!84<?0!02!2-=4?,2!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

#$!

!

!

=&#=")6>)-,)#+$!,!):)&-)%,3!

F,1!08=,/4!D?08-/-/,8K!<-01!D4?!.1!:?-=0?-4!D,?:-,2K!7!D4?!=,1=4!2-3-=,/4K!<-01!D4?!2,!<R8P.0/,!/0! 1.0A48! 0P.-2-<?-48! 01=?0! 2,! '-./,/! 7! 8.! :48=,! :434! .1,! 8-3D20! D?4241J,:-M1! /0! 8.!:41/-:-M1!.?<,1,"!!

S-1! 03<,?J4K! 8.! 8-1J.2,?-/,/! 7! 2,! ,3D2-,! 0L=018-M1! /02! 2-=4?,2! /08/0! n-1Q3,?! a,! 1,:-01=0c!F,8=,!'48=,![7,2,! a,!D41-01=0cK! ?4/0,1/4! 2,!D01;18.2,!/0!+,! Y820=,K!4H?0:0!.1,!4D4?=.1-/,/!D,?,!P.0!2,!'-./,/!/08,??4220!.1,!?02,:-M1!14!8M24!3Q8!,3-8=48,!:41!02!3,?!7!02! 2-=4?,2K!8-14!=,3<-I1!4?-01=,/,!,!/4=,?!/0!.1,!1.0A,!/-3018-M1!D,-8,E;8=-:,!,!2,!A-/,!.?<,1,K!0P.-DQ1/42,!:41!1.0A48!08D,:-48!/0!?02,:-M1!:41!248!?0:.?848!1,=.?,208"!!

+,! '-./,/! =-010! 2,! 4D4?=.1-/,/! /0! ,/4D=,?! :?-=0?-48! /0! D2,1-_:,:-M1! 0! -1=0?A01:-M1! P.0!H,A4?0O:,1! 2,! D.08=,! 01! A,24?! /0! 2,8! /-A0?8,8! D2,7,8! /0! 3,8-A,! .=-2-O,:-M1! DR<2-:,e! 2,!4?-01=,:-M1! F,:-,! .848! 0P.-2-<?,/48K! ,?3M1-:48! 7! 848=01-<208! 01=?0! 02! 4:-4K! 02! =.?-834K! 02!/0D4?=0K! 02! :430?:-4! 4! 02! .84! ?08-/01:-,2e! 02! /08,??4224! ,?341-484! 7! :41! ?08D418,<-2-/,/!:4?D4?,=-A,! /02! G.0?=4! /0! 2,! +.O! 7! /0! +,8! G,23,8K! ,.=I1=-:4! 34=4?! /0! 8.! =?,18H4?3,:-M1!/.?,1=0! 2,! F-8=4?-,! 3Q8! ?0:-01=0e! 0K! -1:2.84K! 01=?0! 4=?,8! 4D4?=.1-/,/08! -3,J-1,=-A,8K! 2,! /0!/08,??422,?! .1! o:2.8=0?! 3,?-14p! P.0! H,A4?0O:,! 2,8! ,:=-A-/,/08! -1A08=-J,/4?,8K! /0! /-8H?.=0!:-./,/,14K!/0!10J4:-4K!/0!,=?,::-M1!=.?;8=-:,! -1=0?1,:-41,2K!/0!:4180?A,:-M1!/0!`4?,!7!H,.1,!3,?-1,K!01!8-10?J-,!:41!2,!G2,=,H4?3,!(:0,14J?QH-:,!P.0!80!-18=,2,?Q!01!T,2-,?=0"!G,?,!0224K!08!D?0:-84! ?0A,24?-O,?! 02! 3,?! :434! 020301=4! /-H0?01:-,/4?! 7! D4=01:-,?! 8.! -1=0J?,:-M1!=?,18H4?3,/4?,!01!2,!A-/,!.?<,1,"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

#5!

!

!

=&#=")6>)-,)#+$!,!):)&-)%,3!

!3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

(?/01,?K!/0!3,10?,!-1=0J?,2K!02!2-=4?,2!:41!.1,!A-8-M1!/0!:41E.1=4!/02!08D,:-4!:48=0?4!!

• &2-3-1,?!2,!<,??0?,!P.0!8.D410!2,!2;10,!/0!:41=010/4?08!/02!3.0220K!?04?-01=,1/4!02!.84!/0!080!08D,:-4!• ^04?/01,?!02!.84!/02!G.0?=4K!80D,?,1/4!.1!D.0?=4!D,?,!D0?841,8!7!4=?4!D,?,!30?:,1:;,8!• [.301=,?!7!30E4?,?!248!,::0848!D0,=41,208!,!2,!D?-30?,!2;10,!,!24!2,?J4!/0!=4/4!02!2-=4?,2!

^0:.D0?,?!=?,348!/0!:48=,!,:=.,2301=0!/0=0?-4?,/48!D,?,!8.!:4180?A,:-M1!7!D,?,!02!.84!7!/-8H?.=0!/0!248!:-./,/,148!

• ^0:.D0?,?!02!2-=4?,2!/0!'48=,![7,2,!7!02!j,??,1:4!/0!&2!^-1:M1!:434!08D,:-48!1,=.?,208!/0!.84!DR<2-:4!• ^0F,<-2-=,?!2,8!D2,7,8!/0!+,8![2:,?,A,10?,8!7!+,!+,E,!• G4=01:-,?!2,!D?4=0::-M1!/0!248!0:48-8=03,8!/0!2,!<,F;,!/0!&2!'41H-=,2!7!2,!D2,7,!/0!+,8!',1=0?,8!7!?0:.D0?,?!02!

2-=4?,2!/0!+,!Y820=,!:434!08D,:-4!1,=.?,2!-1=0J?,/4!01!.1!D,?P.0!P.0!-1:4?D4?0!.848!/-/Q:=-:48!7!/0!/-8H?.=0!• '?0,?!.1!4<80?A,=4?-4!<-42MJ-:4!01!+,8!',1=0?,8!P.0!D2,1=00!842.:-4108!/0!?0J010?,:-M1!7!80J.-3-01=4!/0!2,!

H24?,!7!2,!H,.1,!• ^0D2,1=0,?!02!=-D4!/0!-2.3-1,:-M1!/0!+,8!',1=0?,8!• ^0J010?,?!2,!<,F;,!/0!+,8!G,23,8!/0!N?,1!',1,?-,!F,:-01/4!/08,D,?0:0?!2,!:41=,3-1,:-M1!0L-8=01=0!• [D2-:,?!:?-=0?-48!/0!J08=-M1!4?/01,/,!7!848=01-<20!/0!248!?0:.?848!D08P.0?48!/02!2-=4?,2!3.1-:-D,2!• S4=0??,?!2,![A01-/,!\,?;=-3,!01![2:,?,A,10?,8!D,?,!,:4J0?!1.0A,8!-18=,2,:-4108!/0D4?=-A,8!01!.1!D,?P.0!

.?<,14!2-10,2K!P.0!8.8=-=.7,1!,!2,8!,:=.,208!84<?0!2,!,?01,!/0!2,!D2,7,!

G4=01:-,?!,:=-A-/,/08!/0!,D?4A0:F,3-01=4!/02!3,?!7!02!2-=4?,2!:434!020301=4!/-H0?01:-,/4?!0!-1=0J?,/4?!/0!2,!A-/,!:-./,/,1,!

• G?434A0?!2,!-3,J01!/0!2,!D2,7,!/0!+,8!',1=0?,8!:434!.14!/0!248!D?-1:-D,208!?0H0?01=08!-1=0?148!7!0L=0?148!/0!2,!'-./,/!

• G4=01:-,?!.1!o:2.8=0?!3,?-14pK!:41!,:=-A-/,/08!/0!-1A08=-J,:-M1K!/0!/-8H?.=0!:-./,/,14K!/0!10J4:-4K!/0!,=?,::-M1!-1=0?1,:-41,2!7!/0!:4180?A,:-M1K!01!8-10?J-,!:41!2,!G2,=,H4?3,!(:0,14J?QH-:,!/0!T,2-,?=0!

• Y3D.28,?!2,!-3,J01!/0!+,8!G,23,8!/0!N?,1!',1,?-,!:434!:-./,/!/0!248!/0D4?=08!?02,:-41,/48!:41!02!3,?!• G4=01:-,?!08:.02,8!/0!8.?H!01!2,!O41,!/0!+,!'-:0?!7!D?4D-:-,?!02!/08,??4224!/0!,:=-A-/,/08!?02,:-41,/,8!:41!08,!

D?Q:=-:,!/0D4?=-A,!• G4=01:-,?!2,!D?Q:=-:,!/0!/0D4?=08!/0!A02,!7!/0!?034!01!02!2-=4?,2!/0!1,:-01=0!7!:?0,:-M1!/0!.1!:01=?4!/0!,2=4!

?01/-3-01=4!/0!,:=-A-/,/08!1Q.=-:,8!• G4=01:-,?!2,8!D48-<-2-/,/08!/0!<.:04!01!02!2-=4?,2!7!2,!,?P.0424J;,!8.<3,?-1,!• [D?4A0:F,?!2,8!D48-<-2-/,/08!/0!-3,J01!0L=0?1,!7!/-1,3-O,:-M1!-1=0?1,!/02![=2,1=-:!^,227!H4?!'?.-80?8!a?0J,=,!

[^'c!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9C!

!

!

!!!!!!!!!!!!!!!!

'"!-,)#"';+;&'#+,):)&-)!&0,33"--")!&)-,0)<&30"',0!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9)!

!

!

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,!

!

!

-F)KGTMSUTSMF)GRUOFH)JK)HF)#OSJFJ)KG)UFJF)_Kd)IYG)JO_KMGF)Z)URIQHK]F9))

-RG)QMRUKGRG)JK)UFI^OR)JKIFNJFN)MKGQSKGTFG)bSK)[FWFN)JK)-FG)<FHIFG)JK)LMFN)#FNFMOF) SNF) UOSJFJ) IYG) F^OKMTFP) GRHOJFMOFP) ONTKWMFJRMF) Z) JK\KNGRMF) JK) HF)URN_O_KNUOF)Z)HF)OWSFHJFJ"!

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

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

96!

!

!

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,!

J010?,:-M1K! ,2! =-03D4! P.0! .1,! 3,74?! /-8D48-:-M1! J010?,2-O,/,! /0! 2,! :-./,/,1;,! F,:-,! 2,!o:.2=.?,!/02!:.-/,/4pK!2,!A,24?,:-M1!7!2,!-1=0J?,:-M1!/0!2,8!D0?841,8!3,74?08"!

&1! 2,!O41,!3Q8!<,E,!/0! 2,!D-?Q3-/0K! 248! EMA0108!08=Q1! -130?848!01!D?4:0848!0/.:,=-A48!/0!3Q8!/.?,:-M1!7!80!01:.01=?,1!:41!.1,8!3014?08!0LD0:=,=-A,8!/0!D?434:-M1!84:-,2K!-1:-/-01/4!08=0! H01M3014K!01!3,74?!30/-/,K! 01! 248!F-E48!/0!D,/?08! -13-J?,1=08"![/03Q8K! 248! H?QJ-208!?08.2=,/48!7! H,22,8!01!02! 8-8=03,!0/.:,=-A4K! ?020A,1=08!01!02! :,84!/0! 2,!'-./,/K! ?0D?0801=,1!=,3<-I1! /0H-:-01:-,8! 01! 2,! /-8D41-<-2-/,/! /0! :,D-=,2! F.3,14! :.,2-H-:,/4! 10:08,?-4"! &1! 2,!-1H,1:-,!7!,/4208:01:-,!0L-8=01!/-H0?01=08!-=-10?,?-48!/0!84:-,2-O,:-M1!D?-3,?-,!7!80:.1/,?-,!P.0!D.0/01! ,F41/,?! 14=,<20301=0! 01! 2,! /08-J.,2/,/! /0! 4D4?=.1-/,/08! /0! ,::084! ,! 2,8! 4H0?=,8!2,<4?,208!7!,2!:,D-=,2!:.2=.?,2!7!84:-,2"!

&1! 02! 3,?:4! /0! 08=,! =01/01:-,! /0! :?0:-01=0! :43D20E-/,/! 84:-,2K! 80! -1=0J?,! 2,! ,D,?-:-M1! /0!1.0A48!D?4:0848!/0!-1/-A-/.,2-O,:-M1!7!34/0248!/0!H,3-2-,K!P.0!J010?,1!.1,!3,74?!D2.?,2-/,/!01! 2,8! .1-/,/08! /0! :41A-A01:-,! 7K! 2MJ-:,301=0K! 01! 8.8! 10:08-/,/08! 7! /03,1/,8"!G,?,202,301=0K! 8.?J01! 1.0A48! FQ<-=48! /0! A-/,! 7! 8,2./"! &8=,!3.2=-D2-:-/,/! 84:-,2! 80! =?,/.:0!=,3<-I1! 01! .1,! 3,74?! /03,1/,! /0! A-A-01/,8! D,?,! 2,8! 1.0A,8! H4?3,8! /0! :41A-A01:-,K!A-A-01/,8!P.0K!D4?!4=?,!D,?=0K!=-0101!.148!D?0:-48!3.7!020A,/48K!24!P.0!D?4A4:,!02!=?,82,/4!/0!3.:F48!842-:-=,1=08!F,:-,!4=?48!3.1-:-D-48"!

[!D08,?!/0!2,!D?4J?08-A,!0P.-D,?,:-M1!/0!2,!3.E0?!01!2,!D4<2,:-M1!,:=-A,!7!4:.D,/,K!7!/0!8.!3,74?! D?0801:-,! 01! 2,! .1-A0?8-/,/K! D0?8-8=01! -3D4?=,1=08! /080P.-2-<?-48! 01! 8.! ?0=?-<.:-M1!8,2,?-,2! :41! -J.,2! =?,<,E4K! 3014?! ?0D?0801=,:-M1! 01! 248! D.08=48! /-?0:=-A48! /0! 03D?08,8! 0!-18=-=.:-4108!7!3,74?!,<,1/414!/02!Q3<-=4! 2,<4?,2"!&8!10:08,?-4!80],2,?!P.0!02!D?4<203,!80!,J./-O,! 01! 2,8! 3.E0?08! D?4:0/01=08! /0! =0?:0?48! D,;808! :41! ?02,:-4108! /0! JI10?4! 3Q8!/08-J.,208"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9#!

!

!

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,!

&2! ,.301=4! /0! 80?A-:-48! ,A,1O,/48! ,2=,301=0! -1=018-A48! 01! D0?841,2! :.,2-H-:,/4! 7!?02,=-A,301=0! <-01! ?03.10?,/4K! H?01=0! ,2! :?0:-3-01=4! /0! .1! 80:=4?! =0?:-,?-4! /0! 08:,8,!:.,2-H-:,:-M1!7!:41!<,E48!1-A0208!?0=?-<.=-A48K!F,!-1:-/-/4!01!02! -1:?0301=4!/0! 2,!/08-J.,2/,/!84:-,2K! P.0! ,/P.-0?0! .1,!3,74?! /-3018-M1! D4?! 2,! -1:-/01:-,! /0! 248! 1-A0208! /0! ?01=,! 01! 2,8!4D4?=.1-/,/08! 0/.:,=-A,8! 7! 01! 2,! D48-<-2-/,/! /0! ,::084! ,! 2,8! ?0/08! P.0! D?4D4?:-41,1!:414:-3-01=4!0!-1H4?3,:-M1"!

&2! :?0:-01=0!J?,/4!/0!,D0?=.?,!F,:-,!02!0L=0?-4?!7!02! -1:?0301=4!/0! 2,! -1=0?/0D01/01:-,!7! 2,!-1=0?:410:=-A-/,/! F,1! H,A4?0:-/4! 248!34A-3-01=48!3-J?,=4?-48!3Q8! ?0:-01=08K! D?4A4:,1/4! 2,!,D,?-:-M1!/0!o8.<:.2=.?,8!3-14?-=,?-,8pK!:41!.1!?-08J4!:-0?=4!/0!80J?0J,:-M1!7!D?4H.1/-O,:-:M1!/0!2,8!/08-J.,2/,/08"!+,!'-./,/!=-010!01!2,!,:=.,2-/,/!.1!5i!/0!D4<2,:-M1!0L=?,1E0?,K!P.0K!01!8.8!/48!=0?:0?,8!D,?=08K!D?4A-010!/0!248!:41=-101=08!,30?-:,14!7!,H?-:,14K!01!:41=?,D48-:-M1!:41! 2,!J010?,2-/,/!08D,]42,K!/41/0!08=48!:41=-101=08! ?0D?0801=,1!.1! =0?:-4!/0! 2,!D4<2,:-M1!-13-J?,1=0"!&2!5Ci!/0!08=,!D4<2,:-M1!80!24:,2-O,!01!O41,8!P.0!D.0/01!:418-/0?,?80!02!:01=?4!/0! 2,! :-./,/K! /41/0! 0L-8=01! 3Q8! 4D4?=.1-/,/08! /0! 03D204! 7! ,24E,3-01=4"! G,?,! 0A,2.,?! 2,!-1:-/01:-,!/0!08=0!H01M3014!01!02!30?:,/4!/0!=?,<,E4K!01!02!,:=.,2!34301=4!/0!:?-8-8K!80?;,!10:08,?-4!?0,2-O,?!.1!/-,J1M8=-:4!D?0:-84!84<?0!I2"!

G,?,202,301=0K!,D,?0:01!1.0A,8!D42;=-:,8!7!0LD0:=,=-A,8!A-1:.2,/,8!,!2,!+07!/0!Z0D01/01:-,K!P.0K! 14! 8M24! D?4D4?:-41,! /0! 3,10?,! D4=01:-,2! 1.0A,8! A;,8! 7! ?0:.?848! D,?,! ,H?41=,?! 2,8!8-=.,:-4108! /0! A.210?,<-2-/,/! 84:-,2K! 8-14! P.0! F,:0! D018,?! 01! .1,! -3D4?=,1=0! H.01=0! /0!1.0A,8!,:=-A-/,/08!7!03D204"!

G4?! =4/4!0224K! 08! -3D4?=,1=0!,H?41=,?! 2,! :43D20E-/,/!7! 2,!/08-J.,2/,/! 84:-,2! D?434A-01/4! 2,!-J.,2/,/!/0!4D4?=.1-/,/08!01K!,2!30148K!:.,=?4!H?01=08!D?-4?-=,?-48*!02!,::084!,! 248!80?A-:-48!84:-,208K!02!,::084!,!2,8!?0/08!/0!-1=0?:,3<-4!/0!-1H4?3,:-M1K!2,!0P.-/,/!01!2,!/-8=?-<.:-M1!/0!2,!?01=,!7!2,!2.:F,!:41=?,!2,!D4<?0O,!7!2,!0L:2.8-M1!84:-,2"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

99!

!

!

=&#=")C>)-,)#+$!,!)!+;&30,):)#"%<-&D,!

!3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

Y3D.28,?!248!A,24?08!:;A-:48!P.0!:,?,:=0?-:01!,!2,!'-./,/!:434!-1=0J?,/4?,K!,<-0?=,K!=420?,1=0!7!/-A0?8,!

• g4301=,?!2,!-1=0J?,:-M1!:.2=.?,2!/0!248!-13-J?,1=08!01!248!A,24?08!:;A-:48!P.0!-/01=-H-:,1!,!2,!'-./,/!• '?0,?!02!'4180E4!\.1-:-D,2!/0!Y13-J?,:-M1!• &P.-D,?,?!/0?0:F48!/0!248!03-J?,1=08!01!02!,::084!,!248!80?A-:-48!84:-,208!D?434A-01/4!D42;=-:,8!/0!:43.1-:,:-M1!0!-1H4?3,:-M1!,/0:.,/,8!• ^0,2-O,?!.1!/-,J1M8=-:4!/0!2,!-1:-/01:-,!/0!2,!-13-J?,:-M1!01!02!30?:,/4!/0!=?,<,E4!/0!2,!'-./,/!• G?434A0?!7!/-H.1/-?!2,8!:.2=.?,8!/0!2,8!D4<2,:-4108!/0!-13-J?,1=08!D?0801=08!01!2,!'-./,/!:41!=,220?08!3.2=-:.2=.?,208!D0?3,101=08!• Y3D.28,?!A,24?08!/0!=420?,1:-,K!?08D0=4!7!?0:414:-3-01=4!3.=.4!01=?0!A0:-148!/0!/-8=-1=48!<,??-48!/0!2,!'-./,/!• \0E4?,?!2,!:,2-/,/!/0!A-/,!/0!2,8!D0?841,8!3,74?08!P.0!A-A,1!842,8!:41!30/-/,8!/0!2.:F,!:41=?,!2,!8420/,/!• (H?0:0?!4D4?=.1-/,/08!/0!:42,<4?,:-M1!01!?IJ-301!/0!A42.1=,?-,/4!,!2,8!D0?841,8!3,74?08!• G48-<-2-=,?!2,!:?0,:-M1!/0!03D?08,8!DR<2-:4fD?-A,/,8!D,?,!2,!:418=?.::-M1!7!D48=0?-4?!J08=-M1!/0!?08-/01:-,8!D,?,!D0?841,8!3,74?08"!

Y3D.28,?!D42;=-:,8!/0!0P.-/,/!/0!JI10?4! • ^0,2-O,?!.1!/-,J1M8=-:4!/0!JI10?4!D,?,!H,A4?0:0?!D42;=-:,8!/0!-J.,2/,/!01!248!Q3<-=48!0:41M3-:48K!84:-,208!0!-18=-=.:-41,208!• '?0,?!2,!',8,!/0!2,!\.E0?!• +20A,?!,!:,<4!.1!:41E.1=4!/0!,::-4108!08D0:;H-:,301=0!/-?-J-/,8!,!2,8!3.E0?08!:41!:,?J,8!H,3-2-,?08K!84<?0!=4/4!01!H,3-2-,8!3414D,?01=,208!

7!3.E0?08!EMA0108!• '?0,?!H4?48!/0!D018,3-01=4!/0!JI10?4!P.0!,7./01!,!?0/0H-1-?!248!1.0A48!?4208!84:-,208!/0!F43<?08!7!3.E0?08!

N010?,2-O,?!02!,::084!/0!2,8!D0?841,8!01!D?4:084!/0!0L:2.8-M1!84:-,2!,!2,8!D42;=-:,8!84:-,208!

• '?0,?!:01=?48!/0!/;,!D,?,!2,!,=01:-M1!/0!1-]48!01!8-=.,:-M1!/0!?-08J4!• [<?-?!:01=?48!/0!<,E,!0L-J01:-,!D,?,!D0?841,8!8-1!F4J,?!• Y3D.28,?!,::-4108!P.0!D0?3-=,1!,=01/0?!8-=.,:-4108!/0!030?J01:-,8!84:-,208!/0!248!:-./,/,148!30148!H,A4?0:-/48!• [2:,1O,?!3,74?08!1-A0208!/0!0H-:-01:-,!01!248!80?A-:-48!,8-8=01:-,208!,!D0?841,8!/0D01/-01=08!• Y3D.28,?!02!G2,1!/0!+.:F,!:41=?,!2,!G4<?0O,!7!2,!&L:2.8-M1!S4:-,2!• Y3D.28,?!2,!:44?/-1,:-M1!0H0:=-A,!01=?0!2,8!/-8=-1=,8!,/3-1-8=?,:-4108!DR<2-:,8!:41!:43D0=01:-,8!01!2,!,=01:-M1!,!D0?841,8!01!8-=.,:-M1!/0!

0L:2.8-M1!84:-,2"!

'?0,?!08D,:-48!/0!4:-4!7!?02,:-M1K!08D0:-,2301=0!/08=-1,/48!,!80J301=48!EMA0108!7!3,74?08!/0!2,!D4<2,:-M1!

• '?0,?!01!248!<,??-48!08D,:-48!D42-A,201=08!:41!/4=,:-4108!08D0:;H-:,8!D,?,!1-]48K!EMA0108!7!3,74?08!• ^0.=-2-O,?!842,?08!7!:,8,8!A,:;,8!D,?,!,:=-A-/,/08!/02!<,??-4K!:434!:-108!/0!A0?,14K!30?:,/-2248K!J?,HH-=-8K!0=:"!• Y3D.28,?!D?4J?,3,8!/0!:01=?48!,<-0?=48!D,?,!,D47,?!,!2,8!H,3-2-,8!01!02!:.-/,/4!/0!8.8!F-E48!• %,<-2-=,?!248!:420J-48!0!-18=-=.=48!:434!08D,:-48!/0!?0.1-M1!7!,:=-A-/,/08!E.A01-208!H.0?,!/02!F4?,?-4!20:=-A4!

g4301=,?!2,!?08D418,<-2-/,/!84:-,2!/0!2,8!03D?08,8!

• [2:,1O,?!,:.0?/48!:41!8.D0?30?:,/48!7!/-8=?-<.-/4?08!/0!,2-301=48!D,?,!:,1,2-O,?!0L:0/01=08!D,?,!2,!,=01:-M1!/0!10:08-/,/08!• [2:,1O,?!,:.0?/48!:41!8.3-1-8=?,/4?08!/0!80?A-:-48!/0!,J.,!7!2.O!D,?,!,H?41=,?!8-=.,:-4108!2;3-=0!01!H,3-2-,8!10:08-=,/,8!• Y3D.28,?!7!,D47,?!2,8!,:=-A-/,/08!/02!j,1:4!/0![2-301=48K!/4=Q1/424!/0!:Q3,?,8!H?-J4?;H-:,8K!7!H,A4?0:0?!2,!D,?=-:-D,:-M1!03D?08,?-,2!/-?0:=,!• Y3D.28,?!.1,!-3,J01!/0!3,?:,!84:-,2301=0!?0:414:-/,!D,?,!03D?08,8!:41!?08D418,<-2-/,/!84:-,2!• '?0,?!.1!g41/4!/0!^08D418,<-2-/,/!S4:-,2!'4?D4?,=-A,!:41!,D4?=,:-4108!03D?08,?-,208!:41!/-8=-1=48!.848K!:434!02!H4301=4!/0!D42;=-:,8!

8,1-=,?-,8!7!/0!-1=0J?,:-M1!84:-,2!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9>!

!

!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0!

!

!

-F) #OSJFJ) TOKNK) SNF) TMFJOUOVN) USHTSMFHP) SNF) [OGTRMOF) Z) SN) QFTMOIRNOR) TFNWO^HK) K)ONTFNWO^HK) bSK) MKbSOKMKN) NSK_RG) IRJKHRG) JK) WKGTOVNP) QMRJSUUOVN) Z) JO\SGOVNP) FGg)URIR)SNRG)KbSOQFIOKNTRG)GS\OUOKNTKG9)

!FJR)bSK) HF)USHTSMF)KN)-FG)<FHIFG)JK)LMFN)#FNFMOF)MK\HK]F)IeHTOQHKG)_OGORNKG)JKH)ISNJRP) URNGTOTSZK) SN) KHKIKNTR) \SNJFIKNTFH) QFMF) \RMTFHKUKM) GS) QMRZKUUOVN)ONTKMNFUORNFH)Z)KH)UMKUOIOKNTR)QKMGRNFH)JK)GSG)[F^OTFNTKG9)

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

G,?,! ,H?41=,?! 248! ?0=48! /02! /08,??4224! :.2=.?,2! 80! D?0:-8,! ,D48=,?! D4?! .1,! '-./,/! /-A0?8,K!,<-0?=,!,! =4/,8! 2,8!:43.1-/,/08!7! H4?3,8!0LD?08-A,8!P.0!D.0/,1!3,1-H08=,?80e!.1,!'-./,/!:?0,=-A,K! P.0! J010?,! 4D4?=.1-/,/08! D,?,! /08,??422,?! 7! D?470:=,?! =4/,8! 2,8! D4=01:-,2-/,/08e!.1,! '-./,/! :.2=.?,2301=0! D?4/.:=-A,K! :41! .1! ,/0:.,/4! 0P.-2-<?-4! 01=?0! 02! 30?:,/4! 7! 02!08D,:-4!:.2=.?,2! -18=-=.:-41,2e!.1,!'-./,/!:41!3034?-,K!P.0!D?080?A0!8.!D,=?-341-4!3R2=-D20K!,:.3.2,/4!,!24!2,?J4!/02!=-03D4K!7!.1,!'-./,/!?02,:-41,2K!01!2,!P.0!02!08D,:-4!DR<2-:4!80,!.1!2.J,?!/0!01:.01=?4K!/0!/-Q24J4!7!/0!:?0,:-M1"!!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0)

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9B!

!

!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0!

&1!2,!30/-/,!01!P.0!2,!:.2=.?,!01!.1,!:-./,/!?0`0E,!2,8!3R2=-D208!3,10?,8!/0!A0?!02!3.1/4K!+,8!G,23,8!/0!N?,1!',1,?-,!80!F,!A-8=4!<010_:-,/,!D4?!2,!A01=,E,!/0!2,!/-A0?8-/,/K!,2!F,<0?80!:418=-=.-/4K!,! 24! 2,?J4!/0! 2,!F-8=4?-,K!:434!.1,!.?<0!,<-0?=,!,2!D.0?=4!7!,2!=.?-834K! 2-J,/,!,2!3,?! 7! D4800/4?,! /0! .1! 08D;?-=.! :4834D42-=,"! &8,! /-A0?8-/,/! 80! 3,1-_08=,! 01! 2,8! -1=018,8!-1`.01:-,8! :.2=.?,208! 7! ,?=;8=-:,8! /0! &.?4D,K! bH?-:,! 7! [3I?-:,K! ,8;! :434! 01! .1,! 8-1J.2,?!:41`.01:-,!/0!0LD?08-4108!:.2=.?,208!=?,/-:-41,208K!D-410?,8!7!A,1J.,?/-8=,8"!!

&1!2,!'-./,/!80!:.01=,K!01!2,!,:=.,2-/,/K!:41!.1,!,3D2-,!?0/!/0!0P.-D,3-01=48!:.2=.?,208!/0!:,2-/,/! 7! D?08=-J-4! 7! :41! .1,! :41842-/,/,! D?4J?,3,:-M1! P.0K! ,! D08,?! /0! 8.! ?020A,1:-,!-1=0?1,:-41,2K!08=Q!D?0/43-1,1=0301=0!01H4:,/,!F,:-,!02!:418.34!24:,2!7K!01!08:,8,!30/-/,K!A-1:.2,/,!,!2,!4H0?=,!=.?;8=-:,"!S0!:.01=,K!=,3<-I1K!:41!.1!D,=?-341-4!341.301=,2!0!F-8=M?-:4!/0!?020A,1:-,K!.1!?0H0?01=0!,?P.-=0:=M1-:4!P.0!80!0LD4?=M!,!2,8!:-./,/08!/02!d.0A4!\.1/4K!,!D,?=-?! /02! :.,2! 08! D48-<20! ,2:,1O,?! :,?,:=0?;8=-:,8! /0! :-./,/fD,=?-341-4"! S-1! 03<,?J4K! 08!10:08,?-4! 80],2,?! ,2J.148! /I_:-=8"! &1! D?-30?! 2.J,?K! .1,! 0L:08-A,! :41:01=?,:-M1! /0! 248!0P.-D,3-01=48! :.2=.?,208! 7! 0A01=48! 01! 2,! '-./,/! j,E,K! 84<?0! =4/4! 01! 2,! O41,! /0! T?-,1,fm0J.0=,e!.1,!-1,/0:.,/,!.=-2-O,:-M1!/0!248!08D,:-48!DR<2-:48!D,?,!.848!:.2=.?,208K!8-1!=010?!01!:.01=,! 2,! :41=,3-1,:-M1! ,:R8=-:,! 7! 248! D?4<203,8! /0! 34A-2-/,/! P.0! J010?,1! 7! 2,! H,2=,! /0!08D,:-48!,/0:.,/48!D,?,!2,!:020<?,:-M1!/0!J?,1/08!0A01=48!:41!J,?,1=;,8!/0!80J.?-/,/!7!P.0!14!D0?E./-P.01!2,!848=01-<-2-/,/!/0!2,!'-./,/"!!

+,! :.2=.?,! 08! ,2J4!3Q8! P.0! .1! :43D20301=4! ?08D0:=4!,! 4=?48! /43-1-48! /0! 2,! -1=0?A01:-M1!DR<2-:,K! 4!,2J4!3Q8!P.0!02! ?08.2=,/4!/0!.1,!D42;=-:,! /0!0P.-D,3-01=48! :41!3,74?!4!3014?!:,2-/,/"!

[H?41=,?!248!1.0A48!?0=48!:.2=.?,208!0L-J0K!D4?!=,1=4K!H4301=,?!2,8!4D4?=.1-/,/08!:?0,=-A,8!/0!=4/48! 248!:-./,/,148!7! 2,! -J.,2/,/!/0!,::084!,! 248!:41=01-/48!7!<-0108!:.2=.?,208K! H4301=,?!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9@!

!

!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0!

01=4?148!.?<,148! H,A4?0:0/4?08!/0! 2,! -1=0?,::-M1!01=?0! 248!:-./,/,148K! -1:01=-A,?!02!.84!/0!2,8! =0:1424J;,8! /0! 2,! -1H4?3,:-M1! 7! 2,! :43.1-:,:-M1K! -18=,.?,1/4! D,?,! 0224! .1! 80?A-:-4! /0!201J.,E0!/0!8-J148!7!,./-4/08:?-D:-M1!P.0!D0?3-=,!,!2,8!D0?841,8!:41!/-A0?8-/,/!H.1:-41,2!02!,::084! ,! 08=,8! ,:=-A-/,/08! 7! H,A4?0:0?! 2,! :,2-/,/! 7! 2,! 0L:0201:-,! 01! 2,! D?4/.::-M1! :.2=.?,2"!T4/4! 0224K! 30E4?,1/4! 2,8! :41/-:-4108! /0! 248! :?0,/4?08! 7! 2,8! D?4J?,3,:-4108! 01! 248!0P.-D,3-01=48!DR<2-:48K!7!J,?,1=-O,1/4!2,8!:41/-:-4108!D,?,!2,!D?470::-M1!-1=0?1,:-41,2"!!

&2!,A,1:0!01! 2,8!:-./,/08!34/0?1,8!08! H?.=4!/0!8.!:,D,:-/,/!/0! -114A,:-M1!7!,/,D=,:-M1!s!?08.2=,/4! /0! 2,! :41`.01:-,! /0! A,24?08! :;A-:48! :43D,?=-/48K! P.0! H,:-2-=,1! 2,! :41A-A01:-,! 01!:41_,1O,s! 7! /0! 2,! :.2=.?,K! P.0! 841! H4?3,8! /0! 0LD?08-M1! 7! =?,183-8-M1! /0! 2,! 0LD0?-01:-,!-1/-A-/.,2! 7! :43D,?=-/,"! &1! 08=0! 801=-/4K! 2,! /-A0?8-/,/! 7! :?0,=-A-/,/! :.2=.?,2! =-0101! F47! .1!,3D2-4!:,3D4!/0!D?470::-M1!7!4D4?=.1-/,/08!01! 2,8!1.0A,8!=0:1424J;,8!/0! 2,! -1H4?3,:-M1!7!2,8!:43.1-:,:-4108K!,8;!:434!.1!020A,/4!D4=01:-,2!:434!:?0,/4?,8!/0!A,24?!0:41M3-:4!01!2,!84:-0/,/!/0!2,!-1H4?3,:-M1!7!02!:414:-3-01=4"!

+,!,D.08=,!:2,?,!7!/0:-/-/,!D4?!02!D,=?-341-4!:.2=.?,2!/0! 2,!'-./,/!7!8.!D.08=,!01!A,24?K!08!.1,! J?,1! 4D4?=.1-/,/! D,?,! /0_1-?! .1! D48-:-41,3-01=4! :2,?4! ?08D0:=4! ,! .1! =-D4! /0! =.?-834!.?<,14!:.2=.?,2!7!/0!:41J?0848e!D,?,!2,!:41842-/,:-M1!/0!.1,!?0/!/0!08D,:-48!/0!.84!:.2=.?,2!7!/0! 4:-4e! D,?,! H4301=,?! .1,! -1/.8=?-,! :.2=.?,2! A-,<20! 7! P.0! :43D,?=,! 08D,:-4! :41! 2,!D?4J?,3,:-M1!DR<2-:,e!D,?,!,D?4A0:F,?!2,!A01=,E,!/0!1.08=?,!8-=.,:-M1!?08D0:=4!,2!:41=-101=0!,H?-:,14! 7! :41A0?=-?! 2,! '-./,/! 01! .1! 08D,:-4! /0! D?4/.::-M1! /0! D?470:=48! :.2=.?,208! 7!0/.:,=-A48! P.0! =01J,1! :434! ?0H0?01:-,! 2,! :44D0?,:-M1! D,?,! 02! /08,??4224e! D,?,! ?0:.D0?,?!1.08=?48!,1=-J.48!A;1:.248!:41!+,=-14,3I?-:,K!/Q1/4208!.1,!1.0A,!/-3018-M1!:?0,=-A,e!D,?,!H4301=,?!.1!1.0A4!=0E-/4!0:41M3-:4!3Q8! -114A,/4?e!7!D,?,!08=-3.2,?! 2,!/-H.8-M1!/0!1.0A48!A,24?08!/0!:-./,/!,<-0?=,!/0!A4:,:-M1!-1=0?:.2=.?,2"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

9$!

!

!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

G410?!01!A,24?!248!?0:.?848!D,=?-341-,208K!:.2=.?,208!0!F-8=M?-:48!/0!2,!'-./,/K!D4=01:-,1/4!8.!/-3018-M1!-1=0?1,:-41,2!:434!020301=48!8-3<M2-:48!/0!-/01=-/,/!7!8-1J.2,?-/,/!

• Y3D.28,?!2,!/0:2,?,:-M1!/0!G,=?-341-4!/0!2,!%.3,1-/,/!D4?!2,!Wd&S'(!D,?,!02!:,8:4!F-8=M?-:4!/0!m0J.0=,!

• G?434A0?!02!2-/0?,OJ4!/0!+,8!G,23,8!/0!N?,1!',1,?-,!/01=?4!/0!2,8!,:=-A-/,/08!/02!'01=?4!Y1=0?1,:-41,2!/0!'4180?A,:-M1!/02!G,=?-341-4!

• W=-2-O,?!D-0/?,!/0!:,1=0?;,!:,1,?-,!D,?,!2,!?4=.2,:-M1!/0!:,2208!7!0/-H-:-48!DR<2-:48!• '44?/-1,?!7!/-1,3-O,?!2,!?0/!/0!3.8048!/0!2,!:-./,/K!/4=Q1/4248!/0!248!30/-48!10:08,?-48!D,?,!02!

,::084!/0!248!:-./,/,148!:41!:.,2P.-0?!=-D4!/0!/-8:,D,:-/,/!!• '?0,?!.1,!D-1,:4=0:,!/0!.84!DR<2-:4K!?0:4D-2,1/4!!2,!4<?,!D-:=M?-:,!/-8D0?8,!01!2,8!01=-/,/08!0!

-18=-=.:-4108!24:,208!!• G?434A0?!2,!-2.3-1,:-M1!4?1,301=,2!01!341.301=48!7!0/-H-:-48!F-8=M?-:48!• G?434A0?!2,!?0F,<-2-=,:-M1!/0!0/-H-:-48!D?4=0J-/48!!• '?0,?!.1,!?.=,!/0!248!:,8=-2248!01!02!3.1-:-D-4!• '?0,?!.1,!4H-:-1,!3.1-:-D,2!/0!D,=?-341-4!F-8=M?-:4!7!02,<4?,?!:,=Q24J48!/0!,?P.-=0:=.?,!?,:-41,2-8=,!7!

:-A-2!34/0?1,!• G4=01:-,?!?0:4??-/48!F-8=M?-:48!7!2-=0?,?-48!D4?!2,!:-./,/!

g4?=,20:0?!A,24?08!7!,:=-=./08!P.0!?0H.0?:01!02!801=-/4!/0!D0?=0101:-,!:43D,?=-/4!7!02!D?4=,J41-834!/0!248!:-./,/,148!01!02!oF,:0?!'-./,/p!

• ^0:.D0?,?!248!?,8J48!/0!-/01=-/,/!F-8=M?-:,!/0!2,!'-./,/!01!2,!!80],2-O,:-M1!.?<,1,!7!0L=01/0?!8.!:414:-3-01=4!01=?0!=4/,!2,!D4<2,:-M1K!D,?=-:.2,?301=0!01=?0!248!1-]48!7!EMA0108!

• G?4D-:-,?!02!,84:-,:-41-834!:.2=.?,2!7!?0:?0,=-A4!01!248!<,??-48!• G?434A0?!248!020301=48!/0!:4F08-M1K!-1=0J?,:-M1!7!D.08=,!01!:43R1!/0!A,24?08!:43D,?=-/48!01!2,8!

H-08=,8!/02!',?1,A,2K!2,8!H-08=,8!/0!248!<,??-48K!2,8!:020<?,:-4108!?02-J-48,8!7!2,8!3,1-H08=,:-4108!/0!3.2=-:.2=.?,2-/,/!

• Y/0,?!.1!8-8=03,!DR<2-:4!/0!?0:43D018,!/0!<.01,8!D?Q:=-:,8!/0!:-./,/,148K!03D?08,8K!D?4H08-41,208K!,84:-,:-4108K!0=:"!?08D0:=4!,!2,!'-./,/!

g,A4?0:0?!02!,:0?:,3-01=4!7!2,!-J.,2/,/!/0!,::084!,!248!:41=01-/48!7!<-0108!:.2=.?,208!7!D,=?-341-,208!0!-3D.28,?!2,8!4D4?=.1-/,/08!:?0,=-A,8!/0!=4/48!248!:-./,/,148!

• '?0,?!.1!<414!:.2=.?,2!D,?,!D0?841,8!3,74?08!• G?434A0?!3R8-:,!7!,?=0!01!2,!:,220!01!=4/48!248!<,??-48!• g4301=,?!0A01=48!:.2=.?,208!7!',?1,A,2!01!248!<,??-48!

!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

95!

!

!

=&#=")E>)-,)#+$!,!):)-,0)#$-($3,0!

!

3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

[D47,?!2,!D?4/.::-M1!:.2=.?,2!7!2,!,:=-A-/,/!/0!248!:?0,/4?08!:41!H4?3,8!/0!J08=-M1!7!/-8=?-<.:-M1!,/0:.,/,8!

• '?0,?!.1!g41/4!/0!^-08J4!D,?,!D?470:=48!:.2=.?,208!7!,?=;8=-:48!-114A,/4?08!• (?J,1-O,?!3.08=?,8!/0!,?=0!P.0!H,:-2-=01!02!,::084!,2!30?:,/4!D,?,!,?=-8=,8!24:,208!• [D?4A0:F,?!2,8!D48-<-2-/,/08!H-8:,208!/0!D,=?4:-1-4!7!30:01,OJ4!D,?,!-1-:-,=-A,8!:.2=.?,208!

'43D20=,?!248!0P.-D,3-01=48!10:08,?-48!7!2,!D?4J?,3,:-M1!/0!,:=-A-/,/08!/0!3,10?,!0H-:-01=0!

• '?0,?!.1,!,J01/,!:.2=.?,2!:43D20=,!/0!2,!:-./,/!• '?0,?!08D,:-48!D42-A,201=08K!.14!:0??,/4!7!4=?4!,<-0?=4K!:41!,H4?4!8.H-:-01=0!D,?,!J?,1/08!

,:41=0:-3-01=48K!:41!.848!,2=0?1,=-A48"!• '41A0?=-?!02!0/-H-:-4!\-220?!01!8,2,!/0!=0,=?4!7!08D0:=Q:.248!,2=0?1,=-A48!:41!D?4J?,3,:-M1!:41=-1.,K!

?0:.D0?,1/4!08,!O41,!:434!.1!Q?0,!3.80;8=-:,!7!:.2=.?,2!• &2,<4?,?!.1,!08=?,=0J-,!:.2=.?,2!D,?,!2,!'-./,/K!:41!4H0?=,8!:.2=.?,208!D,?,!=4/48!248!80J301=48!/0!2,!

D4<2,:-M1!• [3D2-,?!2,!?0/!/0!0P.-D,3-01=48!:.2=.?,208!A-1:.2,/,!,2!D?4:084!/0!?0F,<-2-=,:-M1!/0!248!<,??-48!7!

H,:-2-=,?!02!,::084!/0!=4/,!2,!D4<2,:-M1!• [D?4A0:F,?!02!08D,:-4!DR<2-:4K!-1=0J?,/4!7!8-3<M2-:4K!D,?,!02!/08,??4224!/0!,:=-A-/,/08!:.2=.?,208!01!

,?341;,!:41!4=?48!.848!,2=0?1,=-A48!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

>C!

!

!

=&#=").5>)-,)#+$!,!):)&-)!&0,33"--")=$%,'"!

!)-F)#OSJFJ)USKNTF)URN)SNF)GRUOKJFJ)UO_OH)QRUR)KGTMSUTSMFJF9))

-F) URNGTMSUUOVN) JK) SNF) KGTMFTKWOF) URIQFMTOJF) JK) \STSMR) QMKUOGF) JK) SNF) WKGTOVN)K\OUFdP) JK) SN) HOJKMFdWR) UR[KGORNFJRM) Z) JK) HF) QFMTOUOQFUOVN) K\KUTO_F) JK) HRG)UOSJFJFNRG9)

+,! :,D,:-/,/! /0! 4?J,1-O,:-M1! 7! ,::-M1! /0! .1,! :-./,/! D,?,! ?08D41/0?! /0! .1,! 3,10?,!:418:-01=0!7!:420:=-A,!,! 248!?0=48!/0!H.=.?4!08!.1!H,:=4?!0801:-,2!/02!/08,??4224!0:41M3-:4!7!84:-,2!:41=03D4?Q104"!G4?!0224K!+,8!G,23,8!/0!N?,1!',1,?-,K!:434!4:.??0!:41!4=?,8!3.:F,8!:-./,/08K! 80!01:.01=?,!,1=0! 2,!D48-<-2-/,/!/0! -1:?0301=,?!/0!3,10?,!8.8=,1:-,2! 08=0!:,D-=,2!84:-,2K! 01=01/-/4! :434! 2,! :,D,:-/,/! P.0! =-0101! 248! :-./,/,148! /0! ?02,:-41,?80! 01=?0! 8;!D?434A-01/4!2,!:41H-,1O,!3.=.,!7!2,!,84:-,:-M1!D,?,!H-108!/0!<-01!:43R1"!S0!=?,=,!/0!D4/0?!,2:,1O,?! 248!4<E0=-A48!/02!/08,??4224!F.3,14!01! 2,!2;10,!/0! 2,!Z0:2,?,:-M1!/02!\-201-4K!01!02!:41=0L=4!/0!2,!030?J01:-,!/0!2,!/0143-1,/,!84:-0/,/!?0/!4!84:-0/,/!/02!:414:-3-01=4"!

&2! D?4:084! /0! /08,??4224! 0:41M3-:4! 7! 84:-,2! /0! 2,! '-./,/! 01! 2,8! R2=-3,8! /I:,/,8! 14! F,!H,A4?0:-/4!D,?=-:.2,?301=0! 2,!,:.3.2,:-M1!/0!080!:,D-=,2!84:-,2"!Z0!.1,!D,?=0K!02!34/024!/0!/08,??4224!0:41M3-:4!F,!08=,/4!3.7!A-1:.2,/4!,!H,:=4?08!0L=0?148!7!,!2,!,:=.,:-M1!/02!80:=4?!DR<2-:4K!=,2!:434!F0348!80],2,/4!01!02!%0:F4!#e!7K!/0!4=?,K!02!D?4:084!84:-,2!F,!H,A4?0:-/4!.1,! D?Q:=-:,! ,84:-,=-A,! /41/0! D?0/43-1,1! 248! :43D4?=,3-01=48! 30?,301=0! /0H018-A48! 01!=4?14!,! -1=0?0808!/0!J?.D48! ?0/.:-/48! -18=,2,/48!01! 2,! o:.2=.?,!/0! 2,!P.0E,!7!/02!d(pK!7!/0!:4180:.:-M1! /0! A01=,E,8! ,2! :,24?! /0! 2,8! /0:-8-4108! DR<2-:,8"! T4/4! 0224! F,! /-_:.2=,/4! 2,!:4F08-M1!84:-,2"!!

=&#=").5>)-,)#+$!,!):)&-)!&0,33"--")=$%,'")

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

>)!

!

!

=&#=").5>)-,)#+$!,!):)&-)!&0,33"--")=$%,'"!

+,! =?,18-:-M1! .?<,1,! F,:-,! 2,! 84:-0/,/! /02! :414:-3-01=4! :43D4?=,! 2,! 10:08-/,/! /0!?008=?.:=.?,?! 2,8! HM?3.2,8! 4?J,1-O,=-A,8! =?,/-:-41,208! /0! 248! 34A-3-01=48! 84:-,208! 7! /0!D4=01:-,?!1.0A,8!D2,=,H4?3,8!7!,84:-,:-4108K!P.0!80!4?J,1-O,1!01!A-?=./!/0!:,.8,8!a(dNc!4!/02!,D474!3.=.4"!+,8!G,23,8!/0!N?,1!',1,?-,!80!01:.01=?,!01!.1,!H,80!/0!=?,18-:-M1K!01!02!801=-/4!/0!:,3<-4!7!:?0,:-M1!/0!1.0A,8!4D4?=.1-/,/08K!?08D0:=4!,!2,8!4?J,1-O,:-4108!84:-,208!:41! 3,74?! =?,/-:-M1*! ,84:-,:-4108! /0! A0:-148K! 8-1/-:,=48K! D,?=-/48! D42;=-:48K! ,84:-,:-4108!:.2=.?,208K! 01=?0! 4=?,8"! &8=,! =?,18-:-M1! A-010! ,:43D,],/,! /02! 8.?J-3-01=4! /0! 1.0A48!34A-3-01=48!84:-,208K!P.0!=-0101K!D4?!02!34301=4K!.1,!08:,8,!:,D,:-/,/!/0!:41`.01:-,K!7!/0!2,! -3D4?=,1:-,! :?0:-01=0! /0! 2,8! ?0/08! -1H4?3,208! /0! ?02,:-M1! 84:-,2e! 01=?0! 2,8! P.0! ,D,?0:01K!:41! 08D0:-,2! ?020A,1:-,K! 2,8! A-1:.2,/,8! ,! 2,8! =0:1424J;,8! /0! 2,! -1H4?3,:-M1! 7! 2,8!:43.1-:,:-4108"!!

+,! D42;=-:,! /034:?Q=-:,! 14! 8M24! 08! -3D4?=,1=0! D,?,!02! /08,??4224K! 8-14! P.0! 80! :418-/0?,! .1!H,:=4?! :2,A0! 7!/02! =4/4!10:08,?-4!D,?,!02! 1.0A4! 7!3Q8! =?,8:01/01=0! :41:0D=4! /0!/08,??4224!F.3,14"!&1!08D0:-,2K!8.!-3D4?=,1:-,!80!/0<0!,!=?08!/-3018-4108*!a)c!02!<.01!H.1:-41,3-01=4!/0!2,8!-18=-=.:-4108!7!80?A-:-48!DR<2-:48K!/,/,!8.!-3D4?=,1:-,!D,?,!02!:?0:-3-01=4!0:41M3-:4!7!2,! J010?,:-M1! /0! 03D204! 01! ! .1! =0??-=4?-4e! a6c! 2,! :,2-/,/! /0! 2,! ?0D?0801=,:-M1! D42;=-:,! 7!:-./,/,1,K! P.0! 08! <Q8-:,! D,?,! D4/0?! :418=?.-?! 02! -1=0?I8! J010?,2! ,! D,?=-?! /0! 248! -1=0?0808!20J;=-348!/0!248!/-8=-1=48!80:=4?08!0:41M3-:48e!a#c!248!J4<-0?148!/034:?Q=-:48K!P.0!/-8D4101!/0!3,74?! ?0D?0801=,=-A-/,/!D,?,!D?434A0?! 7! A0?=0<?,?!08=?,=0J-,8! 7!,:=.,:-4108!/-?-J-/,8!,!H4?=,20:0?!02!:,D-=,2!84:-,2!4!2,!:,D,:-/,/!:420:=-A,!/0!?08D.08=,!/0!.1!=0??-=4?-4"!!

+,!D42;=-:,!08=Q!D,8,1/4!/0!01=01/0?80!:434!,2J4!10J,=-A4!,!80?!:418-/0?,/,!.1!H,:=4?!:2,A0!/0! /08,??4224K! 7,! P.0! 0A42.:-41,! F,:-,! 2,! ,?=-:.2,:-M1! /0! 2,8! :410L-4108! 01=?0! 248! /-A0?848!1-A0208!/0!J4<-0?148K!2,8!4?J,1-O,:-4108!03D?08,?-,208!7!2,8!4?J,1-O,:-4108!7!34A-3-01=48!/0!2,!84:-0/,/!:-A-2"!+48!J4<-0?148! 24:,208!841K!D4?!8.!D?4L-3-/,/K!02! 2.J,?!/41/0!80!4?-J-1,1!7!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

>6!

!

!

=&#=").5>)-,)#+$!,!):)&-)!&0,33"--")=$%,'"!

08=?.:=.?,1!2,8!?02,:-4108!84:-,208e!248!P.0!=-0101!.1,!3,74?!:,D,:-/,/!/0!,?=-:.2,?!2,8!?0/08!/0! ?02,:-4108! 0! -1=0?,::-4108! P.0! :418=-=.701! .1,! 84:-0/,/"! G4?! 0224K! 08! -3D?08:-1/-<20!,H?41=,?!.1,!?0H4?3,!/0!2,![/3-1-8=?,:-M1!GR<2-:,K!D,?=-:.2,?301=0!/0!2,!+4:,2K!/0!3,10?,!P.0!80!,/4D=01!HM?3.2,8!4?J,1-O,=-A,8!P.0!0A-=01!02!,:=.,2!A0?=-:,2-834!7!:43D,?=-301=,:-M1K!P.0!?0D?0801=,1!4<8=Q:.248!,2!/08D2-0J.0!/0!D42;=-:,8!DR<2-:,8!J24<,208!7!0H-:,:08"!

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

G,?,!P.0!02!J4<-0?14!/0!2,!'-./,/!D.0/,!0E0?:0?!=4/4!8.!D4=01:-,2!/0!-1:-/-?!01!2,!A0?=0<?,:-M1!84:-,2!7!01!02!/08,??4224!.?<,14K!80!?0P.-0?0K!01!D?-30?! 2.J,?K! 2,!0L-8=01:-,!/0!.1,!,.=I1=-:,!:,D,:-/,/! /0! -1-:-,=-A,! 7! 2-/0?,OJ4K! P.0! 08=I! 01! :41/-:-4108! /0! /08,??422,?! .1,! 08=?,=0J-,!:43D,?=-/,K!/0!-3D.28,?!2,!:41:0?=,:-M1K!D?0A01:-M1!7!J08=-M1!/0!248!:41`-:=48e!P.0!80,!:,D,O!/0!:?0,?!0P.-D48!7!?0/08e!P.0!J08=-410!:41!D?4H08-41,2-/,/!2,!:43.1-:,:-M1!01=?0!248!D42;=-:48!7!2,!:-./,/,1;,!7!P.0!J010?0!08D,:-48!/0!-1=0?30/-,:-M1!7!:4180184"!

+,!D42;=-:,K!01!08D0:-,2!2,!D42;=-:,!24:,2K!/0<0!01=01/0?80!:434!.1!o34=4?p!/0!:4F08-M1!84:-,2!7!/08,??4224!F.3,14K!7,!P.0!02!<-0108=,?!?0P.-0?0!/0!D,?=-:-D,:-M1!7!:,2-/,/!/034:?Q=-:,"!

!

!

!"#$%&'(")*+',-)./)*,0&)1)!+#+&%23&)4556)!

>#!

!

!

=&#=").5>)-,)#+$!,!):)&-)!&0,33"--")=$%,'"!

!3&("0)<3+"3+a,!"0) <3"<$&0(,0)0&-&##+"',!,0)

g4?=,20:0?!248!:,.:08!/0!-1=0?A01:-M1!:-./,/,1,K!,=01/-01/4!,!2,8!1.0A,8!/03,1/,8!/0!D,?=-:-D,:-M1!0!-3D.28,1/4!2,8!?0/08!84:-,208!7!2,8!:,D,:-/,/08!,84:-,=-A,8!

• G4=01:-,?!2,8!E.1=,8!/0!/-8=?-=4!:41!3Q8!30/-48K!:43D0=01:-,8K!?0:.?848!7!:,D,:-/,/!/0!/0:-8-M1!

• [D2-:,?!3Q8!=?,18D,?01:-,!01!2,8!/0:-8-4108!3.1-:-D,208"!!

• N010?,?!08D,:-48!/0!J08=-M1!?02,:-41,2!P.0!-3D.2801!2,!-1=0?,::-M1!7!:4??08D418,<-2-/,/!01=?0!02!80:=4?!DR<2-:4!7!02!D?-A,/4!

• ^0/0H-1-?!248!/-8=?-=48!/0!2,!:-./,/K!,=01/-01/4!,!8.!?0,2-/,/!H;8-:,!7!84:-40:41M3-:,!

[D2-:,?!:?-=0?-48!/0!-114A,:-M1!01!2,!J08=-M1!DR<2-:,!/0!2,![/3-1-8=?,:-M1!+4:,2!7!/0!4=?,8!,/3-1-8=?,:-4108K!/0!3,10?,!P.0!80!30E4?0!8.!D?4/.:=-A-/,/!7!,.301=0!2,!D?4L-3-/,/!7!0H-:,:-,!,1=0!02!:-./,/,14!

• ',3<-,?!2,!t0<!/02![7.1=,3-01=4K!F,:0?2,!3Q8!R=-2!7!P.0!D0?3-=,!3Q8!=?Q3-=08!D4?!A;,!020:=?M1-:,!

• Z08,??422,?!2,!,/3-1-8=?,:-M1!020:=?M1-:,!7!248!:,.:08!/-J-=,208!/0!?02,:-M1!/02![7.1=,3-01=4!:41!2,!:-./,/,1;,!

• '?0,?!:01=?48!-1=0J?,/48!/0!J08=-M1!3.1-:-D,2!01!248!/-8=?-=48!

• '?0,?!2,!m01=,1-22,!u1-:,!01!02![7.1=,3-01=4!

• [2:,1O,?!:0?=-H-:,/4!YS(!5CCC*6CC$!/0!:,2-/,/!D,?,!=4/4!02![7.1=,3-01=4!

• '?0,?!02!Y18=-=.=4!\.1-:-D,2!/0!&8=,/;8=-:,!7!4<80?A,=4?-48!D0?3,101=08!84<?0!2,!'-./,/K!:41!.1!8-8=03,!/0!-1/-:,/4?08!D,?,!02!80J.-3-01=4!/0!2,!:,2-/,/!/0!A-/,!/0!248!:-./,/,148!

• [D2-:,?!.1!:M/-J4!I=-:4!/0!:41/.:=,!01!2,!J08=-M1!3.1-:-D,2K!01!2,8!84:-0/,/08!3.1-:-D,208!7!4?J,1-8348!,.=M14348K!:41!:?-=0?-48!/0!?08D418,<-2-/,/!84:-,2!

• &8=,<20:0?!30:,1-8348!/0!0A,2.,:-M1!8-8=03Q=-:,!/0!2,!J08=-M1!/0!2,!:41:0E,2;,8!7!/0!248!D?470:=48!:418-/0?,/48!08=?,=IJ-:48!

• [D2-:,?!.1!D?4J?,3,!.?J01=0!/0!?,:-41,2-O,:-M1!,/3-1-8=?,=-A,!P.0!-1:?0301=0!2,!D?4/.:=-A-/,/!7!?0/.O:,!2,!,:=.,2301=0!-10H-:,O!3,P.-1,?-,!<.?4:?Q=-:,!

• &2-3-1,?!2,8!<,??0?,8!-18=-=.:-41,208!7!<.?4:?Q=-:,8!/0!2,![/3-1-8=?,:-M1!P.0!/-H-:.2=,1!2,!,:=-A-/,/!0:41M3-:,!

• &8=,<20:0?!:,.:08!/0!:4??08D418,<-2-/,/!-1=0?,/3-1-8=?,=-A,!:41!A4:,:-M1!/0!D0?3,101:-,!-18=-=.:-41,2!

!

!

!

!

!

!

!

!

!

!

!

ASOCIACIÓN INICIATIVA PARA LA REFLEXIÓN ESTRATÉGICA

www.proa2020.org

C/ LÓPEZ BOTAS, 55 35001 – LAS PALMAS DE GRAN CANARIA T 928 314 890 F 928 334 854

La Ciudad Que Tenemos Final

Documents

Transcript of La Ciudad Que Tenemos Final