COLEGIO D E POST GRAD U AD OS

MONTECILLOS, TEXCOCO, EDO. DE MÉXICO.
2007
MAESTRO EN CIENCIAS
PARA OBTENER EL GRADO DE:
PRESENTADA COMO REQUISITO PARCIAL
TESIS
GERÓNIMO FERMÍN BULBARELA GARCÍA
EFECTO DE LA SUPLEMENTACIÓN DE L -ARGININA Y ACEITE DE
PESCADO EN EL COMPORTAMIENTO REPRODUCTIVO
DE OVEJAS DE PELO
GANADERÍA
RECURSOS GENÉTICOS Y PRODUCTIVIDAD
CAMPUS MONTECILLO
INSTITUCIÓN DE ENSEÑANZA E INVESTIGACIÓN EN CIENCIAS AGRÍCOLAS
COLEGIO DE POSTGRADUADOS
!"#$%&'((")*+%,&"&")*!-,'&".*/"0'%123%)*4556
ii
("@* &"#"&'1'%#$"@
7* ("@* J3"CL&$"3%@* C%* "0'#"&BJ3'#"@* D* 2"0'#"@)* %@J%&'B(1%#$%* BZL%(("@* C%* (B
0%3$'%#$%* "3'%#$B(* C%(* M'&"* C%* >3'NB2B)* J"3ZL%* C%* (B@* #%&%@' CBC%@* C%* @L@
&"1L#'CBC%@* D* C%* @L@* @'@$%1B@* C%* J3"CL&&'K#* #B&%#* (B@* '#$%33"EB#$%@* D* %(
&"#"&'1'%#$"*ZL%*%@$B1"@*"2('EBC"@*B*C%0"(0%3
.
7* ("@* &"1JBY%3"@* C%(* M3"E3B1B* C%* 8B#BC%3FB)* B* $"C"@* C%* (B* "3'%#$B&'K#* %#
3%J3"CL&&'K#.
7* ("@* J3"V%@"3%@* C%(* M3"E3B1B* C%* 8B#BC%3FB)* J"3
$3B#@1'$'C"@.
7* 8(BC'@* !"3B(%@* +%P%3U#)* J"3* @L@* "2@%30B&'"#%@)* @LE%3%#&'B@* D* BJ"D"
CL3B#$%*(B*VB@%*%,J%3'1%#$B(.
7* 7(%AB#C3B* X%33%3B* <"33%C"3)* J"3* 3%B('NB3* %* '#$%3J3%$B3* ("@* C'BE#K@$'&"@
L($3B@"#"E3UV'&"@.
7* ("@* '#$%E3B#$%@* C%* 1'* <"#@%A"* MB3$'&L(B3.* M"3* @L* B1'@$BC)* BJ"D")
&"#"&'1'%#$"@*&"1JB3$'C"@)*BJ"3$%@*D*@LE%3%#&'B@.
:3.*<B3("@*!'EL%(*W%&%33'(*M-3%N.
:3.*TB'1%*8B((%E"@*?U#&P%N
:3.*73$L3"*M3"*!B3$F#%N
:3.*MB2("*:FBN*9'0%3B
:3.*7CB(2%3$"*9"@%#C"*M"#&%
7(* SB2"3B$"3'"* C%* 9%J3"CL&&'K#* C%* >0'#"@* D* <BJ3'#"@* GSB9><7I)
%@J%&'B(1%#$%* B(* :3.* TB'1%* 8B((%E"@* ?U#&P%N)* J"3* (B* C'3%&&'K#* C%* (B* $%@'@)
&"#V'B#NB)*B1'@$BC*D*$"(%3B#&'B.
7(* ?'@$%1B* C%* M3"CL&&'K#* 7E3F&"(B)* M%&LB3'")* R"3%@$B()* 7&LF&"(B* D* M%@&B
G?M7MR7DMI)*J"3*%(*BJ"D".
7* (B* O#'0%3@'CBC* 7L$K#"1B* <PBJ'#E"* GO7<PI* D* (B* ?L2C'3%&&'K#* C%* <%#$3"@
9%E'"#B(%@* G?<9OI)* J"3* %(* BJ"D"* 23'#CBC".* ;@J%&'B(1%#$%* B* (B* :3B.* ;(2B
M-3%N*Q'((B(2B.*?L2C'3%&$"3B*7&BC-1'&B.
7(* <"(%E'"* C%* M"@$E3BCLBC"@* G<MI)* %@J%&'B(1%#$%* B(* M3"E3B1B* C%* 8B#BC%3FB
C%(*=#@$'$L$"*C%*9%&L3@"@*8%#-$'&"@*D*M3"CL&$'0'CBC*G=9;8;MI)*J"3*B&%J$B31%
JB3B*3%B('NB3*1'@*%@$LC'"@.
7(* <"#@%A"* /B&'"#B(* C%* <'%#&'B* D +%&#"("EFB* G<>/7<H+I)* J"3* %(* BJ"D"
%&"#K1'&"*CL3B#$%*1'@*%@$LC'"@.
7 8 97 : ; < =! =; / +> ?
0"&"1"'","%"2"/"/"."3"$""4"$"."5"#"6
)"#"&"*"+"'",""&"$""-"."&"$"/"."#"*
!"#"$"#"%"&"'"("#
<*"*(*%*E*'*"**C*%**M*"*@*$*E*3*B*C*L*B*C*"*@
_._*M3"$"&"("*C%*@'#&3"#'NB&'K# .................................................................................. 29
_.^*+3B$B1'%#$"@ .............................................................................................................. 28
_.4*<B3B&$%3F@$'&B@*C%*("@*B#'1B(%@*%,J%3'1%#$B(%@ ............................................ 27
_.]*S"&B('NB&'K# ................................................................................................................ 27
=Q**!7+;9=7S;?*H*!d+>:>? ....................................................................................... 26
===*:;R=/=<=\/*:;S*M9>WS;!7 ................................................................................... 24
3%J3"CL&$'0B .......................................................................................................... 18
].6*!%$B2"('@1"*C%*ScB3E'#'#B*D*@L@*3%(B&'"#%@*&"#*(B*V'@'"("EFB
].b*;V%&$"*C%*("@*B#'1"U&'C"@*%#*%(*&"1J"3$B1'%#$"*3%J3"CL&$'0" ................ 17
].`*a&'C"@*83B@"@*M"(''#@B$L3BC"@*G78 MI ................................................................ 14
]._*SB*#L$3'&'K#*%#*%(*C%@B33"(("*V"('&L(B3*D*$B@B*"0L(B$"3'B*C%*(B*"0%AB .......... 9
].^*:%@B33"(("*V"('&L(B3*D*"0L(B&'K# ............................................................................. 7
].4*;(*&'&("*%@$3B(**D*&"1J"3$B1'%#$"*3%J3"CL&$'0"*C%*(B*"0%AB*C%*J%(" ........... 4
].]*?'$LB&'K#*B&$LB(*D*J%3@J%&$'0B@ C%*(B*"0'#"&L($L3B*%#*!-,'&" ................... 3
==**9;Q=?=\/*:;*S=+;97+O97 ......................................................................................... 2
=*=/+9>:O<<=\/ .................................................................................................................. 1
72@$3B&$....................................................................................................................................vi
9%@L1%# ...................................................................................................................................v
[#C'&%*C%*V'EL3B@.................................................................................................................... iv
[#C'&%*C%*&LBC3"@...................................................................................................................ii
723%0'B$L3B@*L$'('NBCB@ .........................................................................................................i
<*>*/*+*;*/*=*:*>
ii
S=+;97+O97*<>/?OS+7:7............................................................................................ 52
Q=*<>/<SO?=>/;? ............................................................................................................ 50
`.`*M3"('V'&'CBC.................................................................................................................. 47
`._*M"3&%#$BA%*C%*E%@$B&'K# .......................................................................................... 44
`.^*+B@B*>0L(B$"3'B ......................................................................................................... 42
`.4*M"3&%#$BA%*C%*%@$3"@ ................................................................................................ 39
`.]*+'%1J"*C%*3%@JL%@$B ............................................................................................... 34
Q*9;?OS+7:>?*H*:=?<O?=\/ ...................................................................................... 33
_.6*!"C%("*%@$BCF@$'&"....................................................................................................32
_.b*<B3B&$%3F@$'&B@*%@$LC'BCB@ .................................................................................... 30
_.`*M3%JB3B&'K#*C%(*B('1%#$"*D*@LJ(%1%#$B&'K# ................................................... 29
+%$3BP'C3"2'"J$%3'#B
+3B#@J"3$BC"3*C%*71'#"U&'C"@*<B$'K#'&"@
8LB#"@F#*!"#"V"@VB$"*<F&('&"
a&'C"*C"&"@BP%,B#"'&"
\,'C"*/F$3'&"*?'#$%$B@B*%#C"$%('B(
a&'C"*%'&"@BJ%#$B#"'&"
X"31"#B*R"(F&L("*;@$'1L(B#$%
X"31"#B*C%(*&3%&'1'%#$"
+3B#@J"3$BC"3*C%*8(L&"@B*]c_
X"31"#B*S'2%3BC"3B*C%*8"#BC"$3"J'#B@
9%&%J$"3*C%*!%123B#B*$'J"*]*B*`*C%*=8R
RB&$"3*C%*<3%&'1'%#$" B#U("E"*B*(B*=#@L('#B*$'J"*=)*==
9%&%J$"3*=#$3BV"('&L(B3*C%*=8R
\,'C"*/F$3'&"*?'#$%$B@B*'#CL&'2(%
ScB3E'#'#B
X"31"#B*SL$%'#'NB#$%
Sc/'$3"*!%$'(*73E'#'#B*;@$%3
7&%$B$"*C%*!%C3",'J3"E%@$%3"#B
/"*:'E%3'2(%*%#*9L1%#
/B#"E3B1"@*J"3*1'('('$3"
>,'C"*/F$3'&"*?'#$%$B@B*#%L3"#B(
\,'C"*/F$3'&"
8"#BC"$3"J'#B* ?-3'&B* C%* H%ELB* M3%YBCB * G8"#BC"$3"J'#B
WX_
<7+
&8!M
:X7
%/>?
;M7
R?X
8X
8SO+]c_
8#9X
=8RWM]c`
=8Rc=)*==
=8Rc=9
'/>?
Sc73E
SX
Sc/7!;
!7M
/:9
/E 1(c]
#/>?
/>
M!?8*G%<8I
O#'CBC%@*=#$%3#B&'"#B(%@
!'('1"(B3
O=
L!
i
a&'C"@*83B@"@*M"(''#@B$L3BC"@
78M
<"3'K#'&B*%ZL'#BI
7&%$B$"*C%*R(L"3"E%@$"#B
7R8
723%0'B$L3B@*L$'('NBCB@
ii
%@$3" J"3*$3B$B1'%#$". ............................................................. _]
<LBC3"*]4.*/f1%3"*D*J"3&%#$BA%*C%*"0%AB@*BCL($B@*D*Jf2%3%@*C%$%&$BCB@*%#
$3B$B1'%#$". ............................................................................ ^h
<LBC3"*]].*/f1%3"*C%*"0%AB@*D*J"3&%#$BA%*C%*%@$3"@*C%$%&$BC"@*J"3
J"3&%#$BA%*$"$B(*C%*%@$3"@*J"3*$3B$B1'%#$". .............................. ^g
<LBC3"*]5.*/f1%3"*C%*"0%AB@*%#*%@$3"*C%*B&L%3C"*B(*$'%1J"*C%*C'BE#K@$'&"*D
$'%1J"*C%*3%@JL%@$B*J"3*$3B$B1'%#$". ........................................ ^b
<LBC3"*h.*/f1%3"*C%*"0%AB@*BCL($B@*D*Jf2%3%@*C%$%&$BCB@*%#*%@$3"*D*@L
$3B$B1'%#$". .............................................................................. ^_
<LBC3"*g.*/f1%3"*C%*"0%AB@*D*@L*$'%1J"*C%*3%@JL%@$B*B*%@$3"*@%Ef#
"0%AB@*J"3*$3B$B1'%#$". .............................................................. 4g
<LBC3"*6.*?LJ(%1%#$B&'K#*D*J3"$"&"("*C%*@'#&3"#'NB&'K#*3%B('NBC"*%#*( B@
<LBC3"*b.**/f1%3"*C%*"0%AB@*J"3*$3B$B1'%#$" D*%$BJB*J3"CL&$'0B ............... 46
JB3B*"0%AB@*(%&P%3B@. ................................................................. ]_
@"DBeB$f#*D*SLJ'#L@*L$'('NBCB*&"1"*&"1J"#%#$%@*C%*L#B*C'%$B
<LBC3"*`.*<"1J"@'&'K#*C%*B&'C"@*E3B@"@*C%*L#B*1%N&(B*C%*B&%'$%*C%
"0%AB. ........................................................................................ ]^
(B*C'E%@$'K#*GB&%$B$")*B1'#"U&'C"@I*@"23%*(B*$B@B*"0L(B$"3'B*C%*(B
2B@%*C%*GB(1'CK#*#"*C%E3BCB2(%*%#*3L1%#)*7/:9I*D*J3"CL&$"@*C%
L#*@LJ(%1%#$"*C%*J3"$%F#B*GPB3'#B*C%*J%@&BC"I)*L#*@LJ(%1%#$"*B
B('1%#$"@ &"1JL%@$"@*GP%#"*C%*B(VB(VB)*&%2BCB*D*JB@$B*C%*@"DBI)
<LBC3"*_.*;A%1J("@*C%(*%V%&$"*C%*$'J"@*C%*B('1%#$"@*GE3B#"*C%*SLJ'#L@I)
VB&$"3%@*#L$3'&'"#B(%@ ................................................................ ]]
<LBC3"*^.*M%3'"C"@*&3F$'&"@*C%*@%#@'2'('CBC*C%*(B*"0%AB*%#*(B*$B@B*"0L(B$"3'B*B
J%("............................................................................................. 6
<LBC3"*4.*<"1J"3$B1'%#$"*3%J3"CL&$'0"*D*J3"CL&$'0"*C%*B(EL#B@*3BNB@*C%
&B3#%*C%*"0'#"*%#*!-,'&"*G!'(%@*C%*$"#%(BCB@I ............................. ^
<LBC3"*].*<"1J"3$B1'%#$"*J3"CL&$'0"*D*&"#@L1"*#B&'"#B(*BJB3%#$ %*C%
[#C'&%*C%*&LBC3"@
iii
$3B$B1'%#$". ............................................................................ _h
<LBC3"*]g.*/f1%3"*C%*"0%AB@*E%@$B#$%@*J"3*%$BJB*D*J3"('V'&'CBC*@%Ef#
<LBC3"*]6.*/f1%3"*C%*"0%AB@*E%@$B#$%@*D*J3"('V'&'CBC*@%Ef#*$3B$B1'%#$". .. _6
@%Ef#*$3B$B1'%#$". .................................................................. _b
<LBC3"*]b.**/f1%3"*D*J"3&%#$BA%*C%*E%@$B&'K#*C% "0%AB@*BCL($B@*D*Jf2%3%@
................................................................................................................. _`
<LBC3"*]`.*/f1%3"*C%*"0%AB@*D*J"3&%#$BA%*C%*E%@$B&'K#*@%Ef#*$3B$B1'%#$".
J"3*$3B$B1'%#$"*D*%$BJB........................................................... _^
&L%3J"@*(f$%"@*C%$%&$BC"@*J"3*L($3B@"#"E3BVFB*D*$B@B*"0L(B$"3'B
<LBC3"*]_.*/f1%3"*C%*"0%AB@*BCL($B@*D*Jf2%3%@*C%*B&L%3C"*B(*#f1%3"*C%
............................................................................................... _4
C%$%&$BC"@*J"3*L($3B@"#"E3BVFB*D*$B@B*"0L(B$"3'B*J"3*$3B$B1'%#$".
<LBC3"*]^.*/f1%3"*C%*"0%AB@*C%*B&L%3C"*B*(B*&B#$'CBC*C%*&L%3J"@*(f$%"@
iv
R'EL3B `.*<L30B JB3B*%(*$'%1J"*C%*3%@JL%@$B*J"3*$3B$B1'%#$".iiiiii.^6
R'EL3B _.*!-$"C"*C%*L($3B@"#"E3BVFB*$3B#@3%&$B( iiiiiiiiiiii..^]
R'EL3B ^.*M3"$"&"("*C%*'#0%@$'EB&'K#*iiiiiiiiiiiiiiiiii. 4h
******\,'C" /F$3'&"iiiiii..iiiiiiiiiiii .iiii......4]
R'EL3B*4. M"@'2(%@*VL#&'"#%@*%*'#$%3B&&'"#%@*C% ScB3E'#'#B j
R'EL3B*].*<'&(" %@$3B(*C%*(B*"0%AB i............................................................. `
[#C'&%*C% V'EL3B@
"0L(B$"3'B)*M3"('V'&'CBC.
v
MB(B23B@*&(B0%k ScB3E'#'#B) 7&%'$%*C%*J%@&BC") 7&%$B$"*C%*R(L"3"E%@$"#B)*+B@B
C%*E%@$B&'K#.
J3"('V'&'CBC)*J%3"*&"#*L#*1BD"3*+9)*1%#"3*J"3&%#$BA%*C%*%@$3"@*D*J"3&%#$BA%
ScB3E'#'#B* "* B&%'$%* C%* J%@&BC"* '#&3%1%#$B3"# * (B* $B@B* "0L(B$"3'B* D* (B
$3B$B1'%#$"@ Mq*M!?8q*7987M*D*7M. SB*@LJ(%1%#$B&'K#*&"#*^55*1E*nE c]*C%
798)* 7987M* D M. SB* M9* VL% C'V%3%#$% GJp5.5`I %# 798 7** (B@* "0%AB@* C%* ("@
"0%AB@* BCL($B@* JB3B ("@* $3B$B1'%#$"@ M!?8* D* 7M* VL%* C'V%3%#$% GMp5.5`I 7*
BCL($B@* C%* ("@* $3B$B1'%#$"@* 798* D* 7987M* 0@* M!?8) M* D* 7M.* ;(* M8 %#$3%
M!?8*D*7M*0@ M)*798)*7987M.*SB*+> @K("*VL%*C'V%3%#$% GMp5.5`I %#*(B@*"0%AB@
$3B$B1'%#$" M!?8 7* M)*798*D*7987M*D*7M. ;( M; VL% C'V%3%#$% GMp5.5`I %#
?%* %#&"#$3B3"#* C'V%3%#&'B@ @'E#'V'&B$'0B@* GMp5.5`I JB3B* +9 %#* (B@* "0%AB@* C%(
1B@*7&%'$%*C%*M%@&BC"*b o*G#l]bI*D 7M. 7R8 m 7&%'$%*C%*M%@&BC"*b o*G#l]`I.
7R8 m ScB3E'#'#B*^55*1E*nEc] G#l]6I) 7987M. 7R8 m ScB3E'#'#B ^55 1E*nEc]
7R8 m M!?8*G8"#BC"$3"J'#B*?-3'&B*C%*H%ELB*M3%YBCBI *_55*O=*G#l]`I) 798.
R(L"3"E%@$"#B G7R8I.*S"@*$3B$B1'%#$"@*VL%3"#k M. M3"E%@$UE%#" G#l6I) M!?8.
J3"('V'&'CBC*GM9I*%#*"0%AB@ C%*J%(" $3B$BCB@ &"# _5*1E ]4*CFB@c]*C% 7&%$B$"*C%
J"3&%#$BA%*C%*%@$3"@*GM;I)*$B@B*"0L(B$"3'B*G+>I) J"3&%#$BA%*C% E%@$B&'K#*GM8I*D
B3E'#'#B* G798I* D 7&%'$%* C% M%@&BC"* G7MI %#* %(* $'%1J"* C%* 3%@JL%@$B* G+9I)
;(*"2A%$'0"*C%(*%@$LC'"*VL%*%0B(LB3*%(*%V%&$"*C%*(B*@LJ(%1%#$B&'K# *C% Sc
9%@L1%#
<"(%E'"*C%*M"@$E3BCLBC"@)*4556
8%3K#'1"*R%31F#*WL(2B3%(B*8B3&FB
:;*>Q;T7?*:;*M;S>
M;?<7:>*;/*;S*<>!M>9+7!=;/+>*9;M9>:O<+=Q>
;R;<+>*:;*S7*?OMS;!;/+7<=\/*:;*S c798=/=/7*H*7<;=+;*:;
M3"('V'&'$D.
vi
u%D* t"3C@k* Sc73E'#'#%)* R'@P* >'()* R(L"3"E%@$"#%* 7&%$B$)* >0L(B$"3D* 3B$%)
+9)*J%3&%#$BE%*('$$(%*"V*%@$3L@*B#C J%3&%#$BE% "V E%@$B$'"#.
"3*R'@P*>'(*'#&3%1%#$*$P%*"0L(B$"3D*3B$%*B#C*$P%*J3"('V'&'$D)*2L$*t'$P*B*P'EP
M!?8)*7987M*B#C*7M.*+P%*@LJJ(%1%#$B$'"#*t '$P*^55*1E*nEc]*"V*ScB3E'#'#%
M.* SB* M9* tB@* C'VV%3%#$* GMp5.5`I* '#* 798* 0@* $P%* @P%%J* "V* $P%* $3%B$1%#$@* M)
V"3*$P%*$3%B$1%#$@*M!?8*B#C*7M*t%3%*C'VV%3%#$*GM p5.5`I*0@*798)*7987M*B#C
$3%B$1%#$@*798*B#C*7987M*0@*M!?8)*M*D*7M.*+P%*M8*2%$t%%#*BCL($@*@P%%J
7987M.* +P%* +>* "#(D* tB@* C'VV%3%#$* GM p5.5`I* '#* $P%* BCL($@* @P%%J* "V* $P%
M)*798)*7987M*D*7M.*+P%*M;*tB@*C'VV%3%#$*GMp5.5`I*'#*M!?8*D*7M*0@*M)*798)
@'E#'V'&B#$*GMp5.5`I*C'VV%3%#&%*V"3*+9*'#*$P%*@P%%J*"V*$P%*$3%B$1%#$@*M!?8*0@
>'(* b* o* G#l]bI* B#C* 7M.* 7R8* m* R'@P* >'( * b* o* G#l]`I.* +P%* 3%@L($@* @P"t%C* B
B3E'#'#%*^55*1E*nEc]*G#l]6I)*7987M.*7R8*m*ScB3E'#'#%*^55*1E*nEc]*J(L@*R'@P
GM3%E#B#$* !B3%* "V* ?%3L1* 8"#BC"$3"JP'#I* _55* O=* G#l]`I)* 798.* 7R8* m* S c
G7R8I.* +P%* $3%B$1%#$@* t%3%* M.* M3"E%@$BE%#* G#l6I) * M!?8.* 7R8 m M!?8
GM9I*'#*PB'3*@P%%J*$3%B$%C*t'$P*_5*1E*V"3*]4*CBD@ c]*"V*R(L"3"E%@$"#%*7&%$B$
%@$3L@* GM;I)* >0L(B$"3D* 3B$%* G+>I)* M%3&%#$BE%* "V* E%@$B$'"#* GM8I* B#C* J3"('V'&'$D
B3E'#'#%*G798I*B#C*R'@P >'(*G7MI*'#*$P%*$'1%*"V*3%@J"#@%*G+9I)*M%3&%#$BE%*"V
+P%*B'1*"V*$P'@*@$LCD*tB@*$"*%0B(LB$%*$P%*%VV%&$*"V*$P%*@LJJ(%1%#$B$'"#*"V*S c
72@$3B&$
<"(%E'"*C%*M"@$E3BCLBC"@)*4556
8%3K#'1"*R%31F#*WL(2B3%(B*8B3&FB
s=+X*7*M9>8;?+78;/
M;9R>9!7/<;*>R*X7=9*?X;;M*?H/<X9>/=r7+=>/
;RR;<+*>R*Sc798=/=/;*7/:*R=?X*>=S =/*+X;*9;M9>:O<+=Q;
= =/+9>:O<<=\/
@LJ%30'0%#&'B*C%*&"3C%3"@.*SB*J3"('V'&'CBC*%@$U*C%$%31'#BCB*J3'1"3C'B(1%#$%
C%$%31'#BCB*"*'#V(L'CB*J"3*$3%@*VB&$"3%@*J3'#&'JB(%@k*V%3$'('CBC)*J3"('V'&'CBC*D
B#'1B( %#* (B@* N"#B@* 3L3B(%@.* SB* %V'&'%#&'B* 3%J3"CL&$'0B* C%* (B@* "0%AB@* %@$B
&B#B(* %#* ("@* C'0%3@"@* @'@$%1B@* BE3"c%&"(KE'&"@* D* @'@$%1B@* C%* J3"CL&&'K#
%V'&'%#&'B*3%J3"CL&$'0B*JB3B*'#&3%1%#$B3*(B*J3"CL&&'K#*C%*&B3#%*%#*J'%*D*%#
M"3* (B* '1J"3$B#&'B* C%* (B* "0'#"&L($L3B)* %@* #%&%@B3'"* 1%A"3B3* @L
`^)]6_*$"#)**@'E#'V'&B#C"*%(*b]o*C%(*</7.
%(*&"1J"3$B1'%#$"*%#*(B@*'1J"3$B&'"#%@)*ZL%*JB3B*%(*BY"*4555*B@&%#C'%3"#*B
BJB3%#$%*G</7I*C%*gb)`b_*$"#*G5.6*nE BY"c] 1&'"/#1.+#I)*%@$B*3%(B&'"#BC"*&"#
X'CB(E")* Q%3B&3LN)* ML%2(B* D* rB&B$%&B@* G?=7M)* 455^I.* ;(* &"#@L1"* #B&'"#B(
%#* &B#B(. S"@* `* J3'#&'JB(%@* J3"CL&$"3%@ VL%3"# ("@* %@$BC"@* C%* !-,'&")
J3"CL&&'K#*#B&'"#B(*C%*EB#BC"*%#*J'-*D*%(*5.g6o*C%*(B*J3"CL&&'K#*C%*&B3#%
^g)]hb D _4)]bb* $"#)* 3%@J%&$'0B1%#$%) &"33%@J"#C'%#C"* B* ].go* C%* (B
6_)_4g D*%# 455^*C%*g4)^]^*$"# &"#*L#B*J3"CL&&'K#*C%*&B3#%*%#*&B#B(*C%
SB* J3"CL&&'K#* #B&'"#B(* C%* EB#BC"* "0'#"* %#* !-,'&"* %#* 4554)* VL%* C%
B12'%#$%@*%#*%(*3%@$"*C%(*1L#C"*GR7>)*455_I.
C'@$3'2L&'K#* %@* B1J('B)* %(* 4b.hgo* G4g^.h* 1'(("#%@I* @%* ("&B('NB* %#* C'0%3@"@
O3LELBD)*;@JBYB)*MBZL'@$U#)*+L3ZLFB)*?LCUV3'&B*D*!-,'&".*?'#*%12B3E" )*@L
9L@'B)* <P'#B)* /L%0B* r%(B#CB)* =3U#)* =#C'B)* 73E%#$'#B)* 9%'#"* O#'C")* ?LCU#)
&B2%NB@)*C%*(B@*&LB(%@*%(*6^.54o*G6bg.]*1'(("#%@I*@%*&"#&%#$3B*%#*7L@$3B('B)
SB* J"2(B&'K#* 1L#C'B(* C%* "0'#"@* @%* %@$'1B* %#* ])5`4* 1'(("#%@* C%
455bI.
2
JB3$'&'JB#* &"#* 1%$B2"('$"@* %#* ("@* J3"&%@"@* 1%#&'"#BC"@* G 9"2'#@"# &+" #6.)
'#C'3%&$"*%#*(B*&"#&%#$3B&'K#*&'3&L(B#$%*C%*P"31"#B@*D*"$3"@*#L$3'%#$%@ *ZL%
%123'"#B3'B*D*%(*%@$B2(%&'1'%#$"*C%*(B*J3%Y%N.*SB*#L$3'&'K#*$'%#%*L#*'1JB&$"
C%@B33"(("*C%(*""&'$") JB3B*%(*J3"&%@"*C% "0L(B&'K#)*V%3$'('NB&'K#)*@"23%0'0%#&'B
(B*@LJ(%1%#$B&'K#*C% #L$3'%#$%@*%@J%&FV'&"@*3%ZL%3'C"@*JB3B*("@*J3"&%@"@*C%
SB*#L$3'&'K#*'#V(LD% %# (B*V%3$'('CBC*C%*("@*3L1'B#$%@*C'3%&$B1%#$%*J"3
G?&B3B1LNN')*]hggI.
J"3* (B* $B@B* "0L(B$"3'B)* JLC'%#C "* @%3* 1%A"3BCB* B* $3B0-@* C%* (B* #L$3'&'K#.
== 9;Q=?=\/*:;*S=+;97+O97
3
J3%V%3%#&'B@*C%*("@*&"#@L1'C"3%@ C%*&B3#%*"0'#B J"3*J3"CL&$"@*C%*&B('CBC*D
J3"CL&&'K#*#B&'"#B( %@ 3%CL&'CB)*@'#*%12B3E")*%@*'1J"3$B#$%*&"#@'C%3B3*(B@
SB*JB3$'&'JB&'K#*C% (B*J3"CL&&'K#*C% &B3#%*"0'#B*%#*%(*0B("3*$"$B(*C%*(B
y 4^.6`*x*4.^b*D*L# 1U,'1" C% y 4b.6`*x*4.5b.
646^*"0'#"@ &"#*J%@"*0'0" 1%C'" C%*__.b*x*5.`5*nE &"#*L#*J3%&'" 1F#'1"*C%
J3"0%#'%#$%@*C%*("@ %@$BC"@*C%*7ELB@&B('%#$%@)*!-,'&")*X'CB(E"*D*wL%3-$B3 ")
455bI) 3%J"3$K* ZL%* JB3B* %@%* BY"* VL%3"#* @B&3'V'&BC"@* %#* %( :'@$3'$"* R%C%3B()
;(* ?'@$%1B* /B&'"#B(* C%* =#V"31B&'K#* %* =#$%E3B&'K#* C%* !%3&BC"@* G?/==! )
v*<'V3B@*J3%('1'#B3%@)*C%*(B*J3"CL&&'K#*455b.
]>V%3$B*#B&'"#B(*l*GJ3"CL&&'K#*m*'1J"3$B&'K#I
4<"#@L1"*#B&'"#B(*BJB3%#$%*l*M3"CL&&'K#m=1J"3$B&'K#
RL%#$%k*?/==!. P$$Jkeettt.@%&"V'c@#''1.E"2.1,e?/==!c73&P'0"@VL%#$%e<"1%#$B3'"@e>$3"@e&#BJ%&c5b.,(@
<LBC3"* ].* <"1J"3$B1'%#$"* J3"CL&$'0"* D &"#@L1" #B&'"#B(* BJB3%#$%* C%
&B3#%*C%*"0'#"*%#*!-,'&". G!'(%@*C%*$"#%(BCB@I
>0'#"
4554
455^
455_
455`
455b
c*M3"CL&&'K#
^g
_4
__
_b
_6v
c*=1J"3$B&'K#
`b.5
_^.]
`g.`
^b.5
^4.`
c*>V%3$B*#B&'"#B(]
h_.4
g`.^
]54.g
6b.5
6h.6
4
c*<"#@L1"*BJB3%#$%
h_.4
g`.^
]54.g
6b.5
6h.b
c*<"#@L1" M%3*&UJ'$B
5.h
5.g
].5
5.6
5.6
&"#@L1" 1&'"/#1.+# B#LB( C%*BJ%#B@*655*E*G?/==!)*455bI.
$%#'%#C"* ZL%* 3%&L33'3* B* (B* '1J"3$B&'K#* C%* ^4.`* 1'(* $"#* JB3B* @B$'@VB&%3* L#
J3"CL&&'K# #B&'"#B()*(B*&LB(*@%*%@$'1K*JB3B*455b*%#*_6*1'(*$"#*G<LBC3"*]I)
SB* C%1B#CB* C%* &B3#%* "0'#B* %@* BJ3",'1BCB1%#$% %( C"2(% C%* (B
455bI.
&B3#%* C%* "0'#")* &BJ3'#"* D* ELBA"("$%* JB3$'&'JB#* &"#* L#* ^.5o* G SL#B &+" #69)
BJ"3$K %(*^`.5o*D*(B*&B3#%*C%*J"3&'#"*%(*4^.5o.*!'%#$3B@*ZL%*%#*&"#AL#$"*(B
%(* ^h.5o* C%(* 0B("3* $"$B(* C%* (B* J3"CL&&'K#)* @%EL 'C" J"3* (B* &B3#%* C%* B0%* ZL%
SB*J3"CL&&'K#*#B&'"#B(*C%*&B3#%*C%*2"0'#"*%#*%(*455` &"#$3'2LDK*&"#
898 :.+2#/.3$"#/+2#6";"1&'*1&/+.7#*"%&"6#",7.$,/26+2'#"&$")<=./,
XBV%N)*455^q 8""C1B# D*=#@n%%J)*455bI.
4
-J"&B* 3%J3"CL&$'0B* %#$3%* 3BNB@* C%* "0%AB@* %@* B1J('B1%#$%* 0B3'B2(% * GXBV%N* D
"0L(B&'"#%@*%@*1BD"3.*SB*CL3B&'K#*C%(*&'&("*%@$3B( %#*(B*-J"&B*C% B#%@$3"*D*(B
B@F*&"1"*%#$3%*%(*%@$3"*D*(B*"0L(B&'K# @%*'#&3%1%#$B# &LB#C" %(*#f1%3"*C%
B12'%#$%I.*;(*'#$%30B("*%#$3%*%(*'#'&'"*C%(*%@$3"*D*%(*J'&"*J3%"0L(B$"3'"*C%*SX )
'#$%3#"@* G#%L3"%#C"&3'#"@* D* 1%$B2 K('&"@I* D* %,$%3#"@* GB('1%#$B&'K#* D
"0L(B&'K#* D* (B* CL3B&'K#* C%(* %@$3" JL%C%# 0B3'B3* %#* 3%(B&'K#* &"#* VB&$"3%@
"0L(B&'K#*%#$3%*4_*B*^5*P"3B@*C%@JL-@*C%(*%@$3" GR'EL3B ]I. ;(*1"1%#$"*C%*(B
P"3B@* B#$%@* C%* '#'&'B3* %(* %@$3"* @L&%C%* %(* J'&"* J3%"0L(B$"3'"* C%* SX* D (B
;(* &'&("* %@$3B(* %#* (B* "0%AB* $'%#%* L#B* CL3B&'K#* %#$3%* ]b* B* ]6* CFB@ )* 4_
#6.)*4554I.
&"#&%J&'K# #" @% 3%$3BNB#* J"3 %V%&$"* C% (B* -J"&B* C%* #B&'1'%#$"* G9"#C"# &+
$"C" %(* BY"* G<B@$'((" &+" #6.)* ]h66I D (B* %CBC* B* (B* JL2%3$BC* D B (B* J3'1%3B
%0'C%#&'B@*ZL%*(B@*"0%AB@*C%*J%("*%#*&('1B*&B('C" *J3%@%#$B# B&$'0'CBC*"0U3'&B
-J"&B* 3%J3"CL&$'0B G8""C1B# %* =#@n%%J)* 455bI. ?'#* %12B3E")* %,'@$%#
&'&('&'CBC* "0U3'&B @%* &B3B&$%3'NB* J"3 J3%@%#$B3* L#B -J"&B* C%* B#%@$3"* D* L#B
%@$3B(%@* %#* %( "$"Y"* %* '#0'%3#"* %#* %(* P%1'@V%3'"* #"3$%.* ;(* 3'$1"* B#LB(* C%* (B
SB@* "0%AB@* @"#* J"('%@$3'&B@ %@$B&'"#B(%@)* J3%@%#$B#C"* 0B3'"@* &'&("@
89> ?6"/./6,"&*+' #6 ";"/,51,'+#5.&$+,"'&1',%2/+.7, %&"6#",7&@# "%&"1&6,
455bI.
/>!c5^^cr>>c]hh`* JB3B* %(* @B&3'V'&'"* PL1B#'$B3'"* C%* B#'1B(%@* G ?7879M7)
%(* J3"&%@B1'%#$"q* />!c54_cr>>c]hh`* JB3B* %(* $3B#@J"3$%* C%* B#'1B(%@* D* (B
&"#C'&'"#%@*N""@B#'$B3'B@*%#*(B*'#CL@$3'B*&U3#'&Bq*/>! c55hcr>>c]hh_*JB3B
JB3B*(B*&(B@'V'&B&'K#*C%*(B@*&B#B(%@*C%*"0'#"@q*/>! c55gcr>>c]hh_*JB3B*(B@
%@$U#* 0'E%#$%@* (B@* /"31B@* >V'&'B(%@* ! %,'&B#B@k* /!zcRRc]5bc?<R=c455b)
&B#B(%@. <"1"* 3%V%3%#&'B* D (B* V'#B('CBC* C%* 3%EL(B3* (B* J3"CL&&'K#* C%* &B3#%
&"#V'B2(%@)*&"#*%@ZL%1B@*C%*&(B@'V'&B&'K#*JB3B*(B*'C%#$'V'&B&'K#*D*@%(%&&'K# *C%
1ª oleada de
desarrollo folicular
2ª oleada de
desarrollo folicular
Atresia
3ª oleada de
desarrollo folicular
17
;(* &'&(" %@$3B(* %@* %(* 3%@L($BC"* C%* (B* '#$%3B&&'K#
X"31"#B
R"(F&L("* ;@$'1L(B#$%
5
@%&3%&'K#*C%*8#9X*C%@C%*%(*/f&(%"*73&LB$" C%*(B*;1'#%#&'B*!%C'B) @"#*("@
'1J"3$B#$%*&"1"*%@$'1L(BC"3*%*'#P'2'C"3*C%*(B*VL#&'K#*C%(*8(L$B1B$"*%#*(B
"2@%30B&'K# .$ 7.+', &"#V'31B3"#* ZL%* %(* K,'C"* #F$3'&"* G/>I* AL%EB* L#* JBJ%(
3%J3"CL&$'0B* %@* B1J('B* D* &"1J(%AB ) +@LnBPB3B &+" #6. G]hhgI 1%C'B#$%
SB* &"1L#'&B&'K#* %#$3%* K3EB#"@ D @L@ 3%(B&'"#%@ &"#* (B V'@'"("EFB
=#@n%%J)*455bI.
J3"@$BE(B#C'#B@* GM8R 4{I* J"3* %( f$%3"* GJ(B&%#$BI* D* &L%3J"* (f$%"* G8""C1B# D
J3"CL&'CB@*J"3*(B*P'JKV'@'@)*%@$3BC'"()*'#P'2'#B*D*J3"E%@$%3"#B J"3*%(*"0B3'")*D
P'J"$U(B1")* X"31"#B* SL$%'#'NB#$%* D
@'%$%* P"31"#B@k* X"31"#B* S'2 %3BC"3B* C%* 8"#BC"$3"J'#B@* G8#9XI* J"3* %(
L#B*&"1L#'&B&'K#*%#$3% %(("@) ZL% @L&%C% J"3*(B*J3"CL&&'K#*D*@%&3%&'K#*C%
&""3C'#BCB*C% &LB$3"*K3EB#"@k*&%3%23")*P'JKV'@'@)*"0B3'"@*D f$%3")*%,'@$'%#C"
V"('&L(B3* GXBV%N)* ]hggI.
(B*"0L(B&'K#*GR'EL3B ]I.*SB*VB@%*V"('&L(B3*#"*3%V(%AB*(B*CL3B&'K#*C%(*&3%&'1'%#$"
CL3B&'K# C% 4*B*^*CFB@*D*&"1J3%#C%*C%@C%*(B*3%E3%@'K#*C%(*&L%3J"*(f$%" PB@$B
CL3B&'K# C%*]_*B*]`*CFB@*D*(B*VB@%*V"('&L(B3*%@*3%(B$' 0B1%#$%*&"3$B)*&"#*L#B
;(*J%3'"C"*C%*B&$'0'CBC*C%(*&L%3J"*(f$%"*@%*((B1B*VB@%*(f$%Bq*$'%#%*L#B
Arroyo
et et
al,2005
Arroyo
al
Estrógenos
Progesterona
-24 h
O vulación
Estro
Fase folicular
Pico Preovulatario
de LH
R'EL3B*].*<'&(" %@$3B(*C%*(B*"0%AB. 733"D" &+"#6) G455`I
0
Atresia
Fase lútea
ZL%* J"$%#&'B('NB#* %(* %V%&$"* %@$'1L(B$"3'"* D* 1"CL(B #* (B
%#* ("@* @'@$%1B@* C%* J3"CL&&'K#
ZL%
6
G$B1BY"*C%*(B*&B1B#CB*,*@"23%0'0%#&'B*C%*&"3C%3"@*,*J%@"*B(*#B&'1'%#$"I*e
F#C'&%@* C%* (B* J3"CL&$'0'CBC* G=MI* D* %V'&'%#&'B* C%(* 3%2BY" * G=RI)* C"#C%k* =M* l
3%J3"CL&$'0B@ VL%* 3%J"3$BCB* J"3* R'$NPL#EP* D* W3BCV"3C* G]hg^I) ((B1U#C"(%@
1B#%A"* 3%J3"CL&$'0". O#B* '#$%E3B&'K#* C%* &B3B&$%3F@$'&B@* J3"CL&$'0B@* D
JB3B* '#V'#'CBC* C%* &"#C'&'"#%@* B12'%#$B(%@)* #L$3'&'"#B(%@)* @B#'$B3'B@* D* C%
%12B3E")*%,'@$%#*0B("3%@ C%*3%V%3%#&'B*@"23%*%(*&"1J"3$B1'%#$"*3%J3"CL&$'0"
2%#%V'&'B#C"* %(* &"1J"3$B1'%#$"* 3%J3"CL&$'0"* C%* (B@* "0%AB@* C%* J%(". ?'#
'#$%3B&$fB#* &"#* (B* V'@'"("EFB * B#'1B() $"C"@* JL%C%#* '#$%3V%3'3* BV%&$B#C"* "
;,'@$%#* C'0%3@"@* VB&$"3%@
@LV'&'%#$% M_ JB3B*1B#$%#%3 (B*E%@$B&'K# GM%(L@")*455bI.
C'V%3%#&'B&'K#*C%(*%#C"1%$3'"*D*%(*C%@B33"(("*C%*(B*J(B&%#$B )*(B*&LB( J3"CL&%
'#V(LD%#C" %#* 0B3'"@* B@J%&$"@* C%* (B* V'@'"("EFB* L$%3'#B)* '#&(LD%#C"* (B
4I %@$'1L(B#C"* %(* C%@B33"(("* C%* (B* E(U#CL(B* 1B1B3'B )* D ^I %#* %( f$%3"
@%&3%&'K#*C%*E"#BC"$3"J'#B@*G&3%&'1'%#$"*V"('&L(B3)*"0L(B&'K#*D*(L$%'#'NB&'K#I
SB*M_*B&$fB*B*C'V%3%#$%@*#'0%(%@*]I %#*%(*%A%*P'J"$U(B1"cP'JKV'@'@)*3%EL(B#C"*(B
C%(*#'0%(*C%*%@$'1L(B&'K#*J"3*E"#BC"$3"J'#B@*D %( %@$BC"*V'@'"(KE'&"*C%(*"0B3'".
;S* &L%3J"* (f$%"* J3"CL&% (B J3"E%@$%3"#B* GM_I)* @%&3%$BCB C%J%#C'%#C"
G733"D" &+"#6.)*455bq*8""C1B# D*=#@n%%J)*455bI.
@L&%C%*%#*$"3#"*B(*%@$3"*%*'#CL&%*(B*"0L(B&'K#*D*V"31B&'K#*C%(*&L%3J"*(f$%"
L#B*@%&3%&'K#*C%*1BD"3*B1J('$LC*GJ'&"*J3%"0L(B$"3'" )*]55*B*455*#E 1(c]I*ZL%
$K#'&B)*4*B*]5*#E 1(c]I*@'%#C"*'1J"3$B#$%*JB3B*(B*%@$%3"'C"E%#%@'@ "0U3'&B*D
%12B3E")*(B*SX*$'%#%*L#*1"C"*C%*@%&3%&'K#*JL(@U$'(*C%*2BA"*#'0%(*G@%&3%&'K#
;,'@$%* L#B 3%(B&'K# %@$3%&PB %#$3%* (B* @%&3%&'K#* C%* 8#9X* D* SX)* @'#
'#C'@J%#@B2(% ScB3E'#'#B.
B&$'0'CBC*C% (B />?*GK,'C"*#F$3'&"*@'#$%$B@BI*%#N'1B*ZL%*L$'('NB*&"1" @L@$3B$"
$3B#@CL&&'K#*C%*(B*@%YB(*J"3*'#$%31%C'B&'K#*C%*/> %(*&LB(*%@*3%EL(BC"*J"3 (B
%@$3KE%#"@
]_.]5
]5.55
5.6]
=M
=R
5.h_
]^.^6
]_._5
^`
4.6
5.6g
4_g
5.hg
]`.b
]`.h5
_5
4.6
5.6g
4_g
].6]c].g_
W(B&n2%((D
WB32BC"@
5.`g
b.g
]].g5
46c^`
4._
5.b`
4_g
].5g
&B2%NB*#%E3B
M%3@B
|].55
45.55
]6.^6
_`
^.hx.h
5.g5
4_5
].`
=CK#%"@
QB("3%@
7
CL3B#$%* J%3'"C"@* %@J%&FV'&"@* C%(* &3%&'1'%#$"* V"('&L(B3)* &B3B&$%3'NB#C"* ("@
$B1BY"* D* (B* &BJB&'CBC* %@$3"E-#'&B* C% ("@ V"(F&L("@* B#$3B(%@* E3B#C%@* 0B3'B
:L3B#$%* (B* VB@%* (f$%B* @%* J3%@%#$B#* 0B3'B @* "#CB@ C%* C%@B33"(("* V"('&L(B3)* %(
'#$%E3B&'K#*C% 1f($'J(%@*@%YB(%@*C%*C'0%3@"@*K3EB#"@ G9BAn"0'& &+" #6.)*455bI.
7C%1U@) %( C%@B33"(("* C%(* V"(F&L("* %@* L#* J3"&%@"* &"1J(%A" ZL%* '#0"(L&3B* (B
%@$3"E-#'&B* ZL%* C%J%#C%* C%(* B12'%#$%* P"31"#B(* G?"LNB &+" #6.)* ]hh6I.
@'%#C"*L#*JB@"*&3F$'&"*%#*(B*@%(%&&'K#*C%*L#*V"(F&L("*C"1'#B#$%*&"#*B&$'0'CBC
%@$3BC'"(.*?'#*%12B3E")*%(*&3%&'1'%#$" C%*4.`*B*`*11*"&L33%*%#*J"&"@*CFB@ )
%@$'1L("* C%* E"#BC"$3"J'#B@* D* @'#* %,'@$'3* L#B* @%&3%&'K#* @'E#'V'&B$'0B* C%
C%@B33"((%#*PB@$B*L#*C'U1%$3"*C%*4.`*11)*&3%&'%#C"*'#C%J%#C'%#$%1%#$%*C%(
V"('&L("E-#%@'@*$"1B*B(3%C%C"3*C%*b*1%@%@*JB3B*ZL%*V"(F&L("@*J3'1"3C'B(%@*@%
C%* J%ZL%Y"@* V"(F&L("@* B(&B#NB* %(* %@$BC"* "0L(B$"3'".* ;(* J3"&%@"* C%* (B
C%*(B*0'CB*BCL($B)*CL3B#$%*%@$%*$'%1J"*L#B*J%ZL%YB*&B#$'CBC*C%*("@*1 '(("#%@
SB*V"('&L("E-#%@'@*%#*(B@*"0%AB@*@L&%C%*C%@C%*(B*JL2%3$BC*D*B*("*(B3E"
89A B&*#'',66,"C,6./26#'";",726#/.3$
7CBJB$BC" *C%*R'$NPLEP*D*W3BCV"3C*G]hg^I)*X%3#U# C%N*D*R%3#U#C%N*G]hhhI
^_c^b
M%@")*uE5.6`
4.`
5.6h
M%@"*"0%AB)*uE.
M%@"*B(*#B&'1'%#$")*uE.
?"23%0'0%#&'B*C%*&"3C%3"@
4_`c^65
=#$%30B("*%#$3%*JB3$"@)*CFB@
].b]
QF3E%#%@
s%@$*7V3'&B#
].44c].4_
=@(B@
M%('2L%D)
M3"('V'&'CBC)*#L1*&"3C%3"@
<B3B&$%3F@$'&B
<LBC3"*4. <"1J"3$B1'%#$"*3%J3"CL&$'0"*D*J3"CL&$'0" C%*B(EL#B@*3BNB@*C%
J%(".
&"1JB3B&'"#%@*%#$3% 3%2BY"@*%*'#&(L@'0%*%#$3%*3BNB@ *G<LBC3"*4I.
'#$%30B("*%#$3%*JB3$"@*% =R*l*=M*e*GJ%@"*"0%AB@*BCL($B@I 5.6` q f$'(%@*JB3B*3%B('NB3
1%&B#'@1"*3%EL(BC"3*&"1J(%A"*G!LY"Nc8L$'-33%N &+"#6.)*455_I.
8
#L$3'&'"#B(%@* @"#* B($B1%#$%* 0B3'B2(%@* @LE'3'%#C"* ZL%* (B@* "0%AB@* $'%#%#* L#
C'V%3%#&'B(1%#$%* 3%EL(BC"@* J"3* (B* #L$3'&'K#)* J%3"* ("@* $3B$B1'%#$"@
'#$3BV"('&L(B3%@* JB3B* =8R* G=8Rc=9I* D 3%&%J$"3%@* C%* @LJ%3V'&'% =8RWMc4* @"#
#L$3'&'"#B(%@)*J3'#&'JB(1%#$%*E(L&"@B*D*J3"$%F#B.*S"@*@'@$%1B@*C%*3%&%J$"3%@
;(* @'@$%1B* =8R}@* '#$3BV"('&L(B3* %@* BV%&$BC"* J"3* $3B$B1'%#$"@
V"(F&L("@*%#*B$3%@'B*G!"#E%$ &+"#69)*4554I.
&3%&'1'%#$"*V"('&L(B3*%#*(B@*"0%AB@ ) '#&3%1%#$B#C"*%( 19/7 JB3B*=8RWMc`*%#
JB3$'&L(B3)* (B* %,J3%@'K#* C%( 19/7 JB3B =8RWMc4* C'@1'#LD%* CL3B#$%* %(
2'"C'@J"#'2'('CBC* C%* =8R}@* CL3B#$%* %(* &3%&'1'%#$"* V"('&L(B3* D* (B* B$3%@'B.* ;#
3%&%J$"3%@* @"#* ("@* 3%@J"#@B2(%@* C%* L#* '#&3%1%#$"* "* C'@1'#L&'K#* %#* (B
C'@1'#LD%# D* =8RWMc`* %#* 3L1'B#$%@* @%* '#&3%1%#$B.* ;@$"@* &B12'"@* %#* ("@
;#* &"#$3B@$%)* ("@* #'0%(%@* C%* ("@* 3%&%J$"3%@* %@J%& FV'&"@* =8RWMc4* D* =8RWMc_
=8Rc==*#"*&B12'B#*C%@JL-@ ZL%*&"#&(LD% %(*&3%&'1'%#$"*V"('&L(B3*D (B B$3%@'B.
D* (B* %@$%3"'C"E-#%@'@* %#* &-(L(B@* C%* (B* $%&B.* SB@* &"#&%#$3B&'"#%@* C%* =8Rc=* D
%#*(B*V"('&L("E-#%@'@)*%@$'1L(B#C"*(B*J3"('V%3B&'K#*C% &-(L(B@*C%*(B*E3B#L("@B
%#*'#E(%@I*D*(B@*J3"$%F#B@*C%*L#'K#*C%*("@*=8R}@ *G=8RcWM}@I*%@$U#*'#0"(L&3BC"@
S"@*VB&$"3%@*C%*&3%&'1'%#$" B#U("E"@*B*(B*'#@L('#B*G=8R}@ J"3*@L@*@'E(B@
G?"LNB &+"#6.)*]hh6I.
%@$BC"@*C%*C"1'#B#&'B*1"3V"(KE'&B*D*VL#&'"#B(*C%*("@*V"(F&L("@*%#*(B@*"0%AB@
JB3B* @L* &BJB&'CBC
C%
EB1%$"E-#%@'@)
"0L(B&'K#)*
V%3$'('NB&'K#)*
@LJ%30'0%#&'B
%# (B@
9
CL3B#$%* %(* C%@B33"(("* V%$B(* ("@* "0B3'"@* @"# 1LD @%#@'2(%@* B* (B* #L$3'&'K#
Q'Y"(%@)* 455^I.* ?'#* %12B3E")* '#0%@$'EB&'"#%@* 3%&'%#$%@* PB# C%1"@$3BC"* ZL%
'#&3%1%#$B3* (B* $B@B* "0L(B$"3'B* C%* (B@* "0%AB@* G>(CPB1 D S'#C@BD)* ]hg_)
CFB@)* L#* E3B#"* B($B1%#$%* %#%3E-$'&"* D* J3"$%'&")* JL%C%* @%3* @LV'&'%#$%* JB3B
$B@B*"0L(B$"3'B.*SB*@LJ(%1%#$B&'K#*&"# E21.$2*" #$F2*+.C,6.2**CL3B#$%*_*B*b
SB* #L$3'&'K#* %@* L#"* C%* ("@* VB&$"3%@* 1U@* '1J"3$B#$%@* ZL%* BV %&$B#* (B
'#&3%1%#$U#C"@%*("@*#'0%(%@*C%*R?X*D*C'@1'#LD%#C" ("@*C%*%@$3BC'"(.
;,'@$%# $B12'-#) C'V%3%#&'B@* %#* ("@* #'0%(%@ J(B@1U$'&"@* C% P"31"#B@)
VB&$"3%@* C% &3%&'1'%#$"* B#U("E"@* B* (B* '#@L('#B * J%31B#%&%#* @'#* &B12'"@.
(%J$'#B) C'@1'#LD% (B*P"31"#B*C%(*&3%&'1'%#$"*G8XI*D (B@*&"#&%#$3B&'"#%@*C%
J%3'"C"@ &"3$"@ J3"0"&B*L#*'#&3%1%#$"*%#*(B@ *&"#&%#$3B&'"#%@*C%*'#@L('#B*D
?&B3B1LNN' &+" #6.*G455bI '#C'&B#C" ZL% (B*@LJ(%1%#$B&'K#*&"#*SLJ'#L@ *J"3
ZL%* 3%EL(B#* (B* V"('&L("E-#%@'@* D* (B* $B@B* "0L(B$"3'B* VL%* 3%0'@BC"* J"3
&"#&%#$3B&'"#%@*C%*P"31"#B@ 1%$B2K('&B@*3%(B&'"#BCB@*&"#*(B*3%J3"CL&&'K#
S"@* %V%&$"@* C%* (B* @LJ(%1%#$B&'K#* #L$3'&'"#B(* %#* (B* "0%AB
J"3*%(*L@"*D*1B#%A"*C%*("@*@'@$%1B@*C%*B('1%#$B&'K#*G9"2'#@"# &+"#6.)*455bI.
E%@$B&'K#. S"@*%V%&$"@*#L$3'&'"#B(%@ %#*(B*3%J3"CL&&'K#*JL%C%#*@%3*3%EL(BC"@
%123'"#B3'B) 3%&"#"&'1'%#$"*1B$%3#")*%@$B2(%&'1'%#$"*D*1B#$%#'1'%#$"*C%*(B
J3"&%@"@
V'@'"(KE'&"@ @%#@'2(%@* B* #L$3'%#$%@* ZL%* @"#* 3%Z L%3'C"@* JB3B* %(* -,'$"* C%* ("@
&'3&L(B#$%@* C%* P"31"#B@)* J3"CL&&'K#* C%* 1%$B2"('$"@* D* "$3"@* %0%#$"@
;,'@$%# '#V(L%#&'B@* #L$3'&'"#B(%@ '#C'3%&$B@* @"23% (B@* &"#&%#$3B&'"#%@
J3"CL&$'0B*D*3%J3"CL&$'0B*GR'$NPL#E*D*W3BCV"3C)*]hg^I.
3%@$3'#E'%#C"* %(* &"#@L1"* C%* #L$3'%#$%@* #%&%@B3'"@
@"#*L@LB(1%#$%*3%@$3'&$'0"@ J"3*%(*JB@$"3%"*C'L3#"*D*%(*3%@ELB3C"*#"&$L3#" )
SB*&B#$'CBC*D*&B('CBC*C%*#L$3'%#$%@*&"#@L1'C"@*J"3*(B@*"0%AB@*C%*J%("
89D E#"$2+'./.3$"&$ "&6"%&*#'',66,"C,6./26#'";"+#*#",726#+,'.# %& 6#",7&@#
'#C'&B3"#* ZL%* (B
10
B('1%#$BCB@* @K("* &"#* P%#")* "2@%30B3"#* ZL%* (B@* "0%AB@* C%(* E3LJ" SLJ'#L@
"0%AB@* B('1%#$BCB@* &"# E21.$2*" #$F2*+.C,6.2** * D* &"1JB3BCB@* &"#* "0%AB@
1%$B2"('$"@* VL%3"#* &LB#$'V'&BC"@* J"3* u"@'"3 cu"3N%&nB D W"2"t'%& G455^I* %#
S"@*&B12'"@*%#*("@*#'0%(%@*%#CKE%#"@*C%*(%J$'#B)*R?X )*]6*•c%@$3BC'"(*D
J3"$%F#B*C%*@"23%JB@".
C%* @%1'((B@* C%* (LJ'#"@* JL%C%* @%3* L#* 1-$"C"* JB3B* B@%EL3B3 L#* BJ"3$%* C%
9-1"#C &+" #6. G455^I &"#@'C%3B3"# ZL%*%(*$3B$B1'%#$"*&"#*&B("3*D*%,$3L@'K#
'C%B(* JB3B* '#&3%1%#$B3* (B* J3"$%F#B* #"* C%E3BCB2(%* %#* 3L1%#. * ?'#* %12B3E")
$3B$B1'%#$"* C% SLJ'#L@* &"#* &B("3* D* V"31B(C%PFC"* #"* EB3B#$'NB* L#* 1-$"C"
C%E3BCB2'('CBC*3L1'#B(*C%*("@*B1'#"U&'C"@*#"*%@*'ELB(*JB3B*$"C"@ %(("@*D*%(
G9"C%PL$@&"3C &+" #6.)* ]hhhI.* S"@* 1'@1"@* BL$"3%@)
oI* JL%C%* @%3* @LV'&'%#$%)* J%3"* %@* B($B1%#$%* C%E3BCB2(%* %#* 3f1%#
SLJ'#L@*%@*L#B*VL%#$%*C%*%#%3EFB*1%$B2"('NB2(% *D (B*J3"$%F#B*&3LCB*G^4 c^`
1BD"3*#'0%(*C%*@%&3%&'K#*C%*SX*CL3B#$%*(B*VB@%*(f$%B. SB*@LJ(%1%#$B&'K#*&"#
"0L(B&'K#*&"1"*3%@JL%@$B*B*(B*@LJ(%1%#$B&'K#*&"# SLJ'#L@*%@*C%2'CB*B*L#
/"$$(% &+" #6.* G]hg6I* "2@%30B3"#* ZL%* %(* '#&3%1%#$"* %#* (B* $B@B* C%
&"#*2BAB*&"#C'&'K#*&"3J"3B(*#"*$'%#%*%V%&$" %#*(B*$B@B*C%*"0L(B&'K#.
ZL%*(B*@LJ(%1%#$B&'K#*J"3*L#*J%3'"C"*&"3$"*B#$%@*C%*(B*"0L(B&'K#*%#*"0%AB@
C%*(B*"0L(B&'K#*G?$%tB3$ D*>(CPB1)*]hgbI.**Q'Y"(%@ &+"#69*G455`I %#&"#$3B3"#
JL%C%*@%3*#%EB$'0B*"*#"*$%#%3*%V%&$"*B(*@LJ(%1%#$B3*%#$3%*%( CFB _ "*] B#$%@
*1)*%@*%V%&$'0B J3"J"3&'"#U#C"(B*%#$3%*g*D*` CFB@ B#$%@*C%*(B*"0L(B&'K#)*J%3"
%@$3B$-E'&B. ;(* %V%&$"* C%* (B* @LJ(%1%#$B&'K#* %@$3B$-E'&B)* '#&(LD%#C" E21.$2*
C%@B33"((")* J3"CL&&'K#* "* 3%J3"CL&&'K#* @ %* (%* PB* ((B1BC"* @LJ(%1%#$B&'~#
%@J%&FV'&"@* 3%ZL%3'C"@* %#* J%3'"C"@* &3F$'&"@* JB3B* 1%A"3B3* %( &3%&'1'%#$")
SB* B('1%#$B&'K#* B#'1B(* &"#* B(Ef#* @LJ(%1%#$"* 3'&"* %#* #L$3'%#$%@
PL2"*C%V'&'%#&'B@*CL3B#$%*%(*J%3'"C"*V%$B(*G9"2'#@"# &+"#69)*455bI.
3%J3"CL&$'0B*3%@J"#C%#*B*(B*@LJ(%1%#$B&'K# ) (B*$B@B*"0L(B$"3'B %@*1%#"3*@'
1B$%3#B*&"#*@L2@%&L%#$%@*%V%&$"@*%#*(B*$B@B*"0L(B$"3'B)*BL#ZL%*%#*(B*%CBC
(B* C%V'&'%#&'B
>0B3'"
&B('CBC*C%*("@*""&'$"@*D*$B@B*C%*"0L(B&'K#
c <B12'"@*%#*%(*&3%&'1'%#$"*V"('&L(B3*D*B$3%@'B)
&B('CBC*C%*("@*""&'$"@*D*$B@B*C%*"0L(B&'K#
c <B12'"@*%#*%(*&3%&'1'%#$"*V"('&L(B3*D*B$3%@'B)
C% ("@*V"(F&L("@*J3'1"3C'B(%@
c :'@1'#LD%*%(*#f1%3"*C%*V"(F&L("@*ZL%*%1%3E%3U#
c 7($%3B&'K#*%#*(B*1%'"@'@*%#*&-(L(B@*E%31'#B(%@
!%&B#'@1"
11
E21.$2*" *1 J"3* L# J%3'"C" &"3$" Gbch* CFB@I* '#&3%1%#$"* (B* $B@B* C%* "0L(B&'K#
S'#C@BD* G]hg_I* 1%#&'"#B3"#* ZL%* CL3B#$%* (B* @LJ(%1%#$B&'K#* &"#* E3B#"* C%
'#&3%1%#$B3* (B* $B@B* C%* "0L(B&'K#* G:"t#'#E D* ?&B3B1LNN')* ]hh]I.* >(CPB1 D
;(*'#&3%1%#$"*%#*("@*#'0%(%@*C%*%#%3EFB*CL3B#$%*L# J%3'"C"*&"3$"*JL%C%
9"2'#@"# &+"#6.*G455bI
gc_ CFB@*J3%"0L(B&'K#
X'J"$U(B1"
]5*CFB@*J3%"0L(B&'K#
X'JKV'@'@
>0B3'"
>0B3'"*V%$B(
\3EB#"
b 1%@%@*J3%"0L(B&'K#
7CL($B
:FB*`5cb`
R%$B(
M%3'"C"
<LBC3" ^. M%3'"C"@*&3F$'&"@*C%*@%#@'2'('CBC C%*(B*"0%AB*%# (B $B@B*"0L(B$"3'B B
VB&$"3%@*#L$3'&'"#B(%@
GR'$NPL#EP*D*W3BCV"3C)*]hg^I.
&('1B*D*%(*1B#%A"*$B12'-#*@"#*VB&$"3%@*ZL%*JL%C%#*'#$%3V%3'3 %#*(B*V%3$'('CBC
455bI.*?'#*%12B3E")*%#*(B@*"0%AB@*C%*J%("*%(*B12'%#$%)*(B@*%#V%31%CBC%@)*%(
#L$3'&'"#B( C'@1'#LD%*%(*#f1%3"*C%*V"(F&L("@ J3%"0L(B$"3'"@ G9"2'#@"# &+"#69G
@L&%C%* %(* 3%&(L$B1'%#$"* C%* ("@* V"(F&L("@* J3'1" 3C'B(%@
^I* ZL%* BV%&$B#* (B* $B@B* "0L(B$"3'B)* b* 1%@%@* B#$%@* C%* (B* "0L(B&'K#)* &LB#C"
;#*"0%AB@*%,'@$%#*J%3'"C"@*&3F$'&"@*C%*@%#@'2'('CBC*#L$3'&'"#B(**G<LBC3"
1%#"3%@*%#*%(*E3LJ"*C%*"0%AB@*B('1%#$BCB@*&"# SLJ'#L@.
R%#'(B(B#'#B D 73E'#'#BI* D* ("@* #'0%(%@* C%* %@$3BC'"(* VL%3"#* @'E#'V'&B# $%1%#$%
G8('&'#B)* 7(B#'#B)* QB('#B)* !%$'"#'#B)* S%L&'#B)* =@"(%L&'#B)* +'3"@'#B)
G]5`.4]* 0@* b6.gg* #E 1(c]I)* E(L&"@B* D* #L%0%* B1'#"U&'C"@* E(L&"E-#'&"@
$L0'%3"#* B($B@* &"#&%#$3B&'"#%@* C%* (%J$'#B* G4.6* 0@* ]._4* #E 1(c]I) C% R?X
%#* (B* &"#&%#$3B&'K#* C%* ("@
J3%@%#$B*%#*%(*&LBC3"*_.
12
%A%1J("@* C%(* %V%&$"* C%* 0B3'"@* $'J"@* C%* B('1%#$"@* @"23%* (B* $B@B* "0L(B $"3'B* @%
1"1%#$"* C%* (B* @LJ(%1%#$B&'~#* '#V(LD%# %#* (B* $B@B* "0L(B$"3'B. 7(EL#"@
AK0%#%@ GW%B1 D X"(&"12%)* ]hh4I.* ;(* $'J"* C%* * @LJ(%1%#$")*(B* CL3B&'~#* D* %(
#"*'#&3%1%#$B#*(B*$B@B*C%*"0L(B&'K#*GX'#&P D*9"%("V@)*]hgbI*J%3"*@'*%#*"0%AB@
8"#NU(%@)*]hg^I. M"3*"$3"*(BC")*(B@*'#VL@'"#%@*C%*'#@L('#B*%#*"0%AB@ BCL($B@
&B1BCBI* #"* %@* C'V%3%#$%* &"#* (B* @LJ(%1%#$B&'K#* C%* %#%3EFB* GQB(%#&'B* D
&"#* 5.]_* o* 1U@* &"3C%3"@* J"3* JB3$")* J%3"* (B* J3"('V'&'CBC* G$B1BY"* C%* (B
@%1B#B@*B#$%@)*%#*"0%AB@*C%*J%(" '#&3%1%#$B)*(B*$B@B*C%*JB3'&'K#*%#*]].b*o
SB* @LJ(%1%#$B&'K#* #L$3'&'"#B(* B(* 1"1%#$" C%(* %1JBC3%* D L#B* "* C"@
7L#ZL%*@'*PL2"*L#*'#&3%1%#$"*%#*(B@*&"#&%#$3B&'"#%@*C%*E(L&"@B*%*'#@L('#B.
#' &"33%(B&'"#%@* &"#* (B@* &"#&%#$3B&'"#%@* C%* %@$3BC'"(* "* B#C3"@$%#%C'"#B .
C'V%3%#&'B@*%#*(B@*&"#&%#$3B&'"#%@*C%*%@$"@*$3B#@J"3$BC"3%@)*$B@ B*"0L(B$"3'B)
$3B#@J"3$BC"3%@* C%* E(L&"@B* &%(L(B3* G8SO+]* D* 8SO+_I )* #"* %#&"#$3B#C"
GE('&%3"(mJ3"JB#%C'"(I* J"3* g* D* ]4* P"3B@I
C%*(B*@LJ(%1%#$B&'K#*#L$3'&'"#B(*G+%@$'E" 7**SLJ'#L@*0@*!%N&(B*8(L&"E%#'&B
%#$3%*L#*45*B*^5 o.*?'#*%12B3E")*s'(('B1@ &+"#6. G455]I*%0B(LB3"#*("@*%V%&$"@
S%'&%@$%3,!%3'#"
]4.^)*h.`*D*]].^*E CFBc]*(%L&'#B)
S%'&%@$%3,!%3'#"
h j*_*CFB@*J3%c"0L(B&'K#
].`_*x*5.]b
4.55*x*5.55
4.^`*x*5.]g
4._5*x*5.^5
].`]
].__*x*5.4`
^.4h*x*5.46
].gg*x*5.]4
4.44*x*5.]b
]._5*x*5.5g
].`^*x*5.5g
]._^*x*5.5g
?LJ(%1%#$"
7CBJ$BC"*C% 9"2'#@"# &+"#6) G455bI
v*>0%AB@*C%*(B*3BNB*!%3'#"*J"3$BC"3B@*C%(*E%# W""3"(B*GJ3"(FV'&B@ R%&WvI*D*#"*J"3$BC"3B@*G/"*R%&WvI.
vv*=.Q.l*=#$3B0%#"@B.
W"3C%3
3%@J%&$'0B1%#$%.
0B('#B*%*'@"(%L&'#B)
W"3C%3
].^4
].^b*x*5.^_
!%3'#"
4._b*x*5.^]
/"*R%&Wv
].`5*x*5.]b
].`5*x*5.]b
R%&Wv
73BE"#%@B
73BE"#%@B
h j*_*CFB@*J3%c"0L(B&'K#
b5 j*b`*1! Pc]*8(L&"@B*=.Q
h*CFB@*J3%c"0L(B&'K#
]]44*1! CFBc]*7&%$B$"*=.Qvv
44*CFB@*J3%c"0L(B&'K#
]55*E CFBc]*B(1'C"# 7/:9
]_*CFB@*J3%c"0L(B&'K#
5.]*nEeCFB*PB3'#B*C%*J%@&BC"
]_*CFB@*J3%c"0L(B&'K#
X%#"*B(VB(VB)*&%2BCB)*JB@$B*@"DB
5.6*nE CFBc]*!%N&(B*b5k^5k]5
].]5*x*5.56
6 j*5
].5^*x*5.5b
+%@$'E"
].5g*x*5.5g
!%3'#"
9BNB
]] c]`
]` j*h
:FB@*B#$%@*C%*(B*"0L(B&'K#
83B#"*C%*SLJ'#L@*G`55E CFBc]I
+3B$B1'%#$"
13
<LBC3" _. ;A%1J("@* C%(* %V%&$"* C%* $'J"@* C%* B('1%#$"@* GE3B#"* C% SLJ'#L@I)
B('1%#$"@ &"1JL%@$"@*GP%#"*C%*B(VB(VB)*&%2BCB*D*JB@$B*C%*@"DBI)
L#*@LJ(%1%#$"*C%*J3"$%F#B*GPB3'#B*C%*J%@&BC"I)*L# @LJ(%1%#$"*B
2B@%*C%*GB(1'CK#*#"*C%E3BCB2(%*%#*3L1%#)*7/:9I*D*J3"CL&$"@*C%
(B* C'E%@$'K#* GB&%$B$")* B1'#"U&'C"@I %#* (B* $B@B* "0L(B$"3'B* C%* (B
"0%AB.
'1J"3$B#$%@
B#&(BA%@* P'C3"VK2'&"@)* BE%#$%@* %1L(@'V'&B#$%@)
]6`
4g
`4
]66
45^
_`
^]
]_5
]bk5*#cP%,BC%&B#"'&".*MB(1F$'&"
]bk]*&'@chcP%,BC%&B#"'&".*JB(1'$"(%'&"
]gk5*#c"&$BC%&B#"'&".*;@$%U3'&"
]gk]*&'@chc"&$BC%&B#"'&".*>(%'&"
]gk4*#cb*&'@c]4c"&$BC%&BC'%#"'&".*S'#"(%'&"
]gk^*#c^*&'@c]`c"&$BC%&B$3'%#"'&".*S'#"(%#'&"
45k`*#c^*;'&"@BJ%#$B#"'&"
44kb*#c^*:"&"@BP%,B#"'&"
7CBJ$BC"*C%*u'$%@@B &+"#6. G455^I*#C*l*#"*C%$%31'#BC".
45
^6_
7&%'$%*C% B$f#*^5o
7&%'$% C%*@"DB*65o*m
]_k5*#c$%$3BC%&B#"'&".*!'3F@$'&"
7&'C"@*83B@"@*GE nEc]*$"$B(*83B@BI
83B@B*$"$B(*GE nEc]*$"$B(*!?I
<"#$%#'C"
#C
#C
`4
_^5
^]b
`b
#C
]]g
4_
b_
SLJ'#L@
14
<LBC3" `.* <"1J"@'&'K#* C%* B&'C"@* E3B@"@* C%* L#B* 1%N&(B* C%* B&%'$%* C%
@"DBeB$f#*D SLJ'#L@*L$'('NBCB*&"1"*&"1J"#%#$%@*C%*L#B*C'%$B
JB3B*"0%AB@*(%&P%3B@.
4555I.
P'JKV'@'@)* "0B3'"@* D f$%3")* '#C%J%#C'%#$%1%#$%* C%* (B* %#%3EFB* G!B$$"@ &+" #6.)
C%* (B@* 0B&B@* J3"2B2(%1%#$%* %@* 3%@L($BC"* C%* ("@* U&'C"@* E3B@"@* @"23%* (B
BL$"3%@*@LE'%3%#*ZL%*%(*%V%&$" C% (B*@LJ(%1%#$B&'K# C% E3B@B*%#*(B*V%3$'('CBC
C%@$'#BCB*JB3B*&"#@L1"*PL1B#" Gu'$%@@B &+"#69G 455^I. M"3*"$3"*(BC")*0B3'"@
(B@*&"#&%#$3B&'"#%@*C% U&'C"@*E3B@"@*%#*(B*(%&P%*2"0'#B*L "0'#B*G<LBC3" `I
PB*$%#'C"*L# '#$%3-@*&3%&'%#$%)*'#'&'B(1%#$%*&"#*(B*$%#C%#&'B*C%*'#&3%1%#$B3
SB*L$'('NB&'K#*C%*U&'C"@*E3B@"@*J"(''#@B$L3BC"@*%#*(B*#L$3'&'K#*B#'1B(
P"31"#B@*D*1%#@BA%3"@*'#$3B&%(L(B3%@*G/%(@"#*D*<",)*4555I.
%(%&$3K#'&"@)* J'E1%#$"@)
&B#$'CBC%@* 1LD* J%ZL%YB@)* @"#* &"VB&$"3%@* %#N'1U$'&"@)* $3B#@J"3$BC"3%@
&"#@$'$LD%#$%@* C%* (B@* 1%123B#B@* &%(L(B3%@.* 7(EL#"@* (FJ'C"@)* BL#* %#
C%* %#%3EFB)* ("@* V"@V"(FJ'C"@* D* %@$%3"(%@* G&"(%@$%3"(I* @"#
SB@*E3B@B@*D*("@*B&%'$%@ @"#*(B@*V"31B@*J3'#&'JB(%@*C%*B(1B&%#B1'%#$"
89H I/.%,*"!'#*,*"J,6..$*#+2'#%,*"K4!JL
@%*
PB*
3%&"#"&'C"*
(B*
'1J"3$B#&'B*
C%(
U&'C"
15
B#$%3'"3)*B(*1%#"@*%#*PL1B#"@)*@%*3%&"1'%#CB*%(*&"#@L1"*C%*J%@&BC"*D @L@
]hhgI* D* 3%CL&%# ("@* J3"&%@"@* '#V(B1B$"3'"@* Gu'#@%((B)* ]hgbI.* M"3* $"C"* ("
GX"VV1B#*%$*B(.)*]hh^I)*1"CL(B#*%(*@'@$%1B*'#1L#%*G<B(C%3)*]hhgq*83'12(%)
]hhgI)* '#&3%1%#$B#* %(* C%@B33"(("* C%(* &%3%23"* D* BELC%NB* 0'@LB(* %#* '#VB#$%@
PL1B#"@* 3%CL&%#* %(* 3'%@E"* C%* %#V%31%CBC%@* &B3C'"0B@&L(B3%@* G?P%B3C)
@B(LC)* J3'#&'JB(1%#$%* C%* ("@* #c^)* ;M7* D* :X7)* J"3* @L@* @'E(B@* %#* '#E(%@.* ;#
;,'@$%# %V%&$"@* 2%#-V'&"@ C%* ("@* U&'C"@* E3B@"@* J"(''#@B$L3BC"@* %#* (B
&"(%@$%3"()*$3'E('&-3'C"@*D*(FJ'C"@*$"$B(%@*G!B3F# &+"#6.)*4556I.
C%* (B* B&$'0'CBC* "0U3'&B* J"@$JB3$"* %* '#&3%1%#$"* (B@* &"#&% #$3B&'"#%@* C%
4554I. SB*@LJ(%1%#$B&'K#*&"#*B&%'$%*0%E%$B(*3%CLA"*%(*$'%1J"*JB3B*%(*3%'#'& '"
'#&3%1%#$"*%#*%@$3BC'"(*J(B@1U$'&"*CL3B#$%*(B*VB@%*V"('&L(B3 G9"2'#@"# &+"#6.)
0B&B@* ZL%* 3%&'2'%3"#* U&'C"* ('#"(-#'&"* J%3"* #"* ('#"(%'&"* J3%@%#$B3"#* L#
&"(%@$%3"(*D*VB&$"3%@*C%*&3%&'1'%#$" B#U("E"@ B*(B*'#@L('#B*$'J"*=*G=8Rc=I.*SB@
3%&'2'%3"#* B&'C"* ('#"(%'&"* J%3"* #"* ('#"( -#'&"* J3%@%#$B3"#* B($"@* #'0%(%@* C%
#f1%3"*C% V"(F&L("@*C%*$B1BY"*1%C'"*G`c]5*11*C%*C'U1%$3"I.*SB@*0B&B@*ZL%
J3"E%@$%3"#B)* JB3$'&L(B31%#$%* %#* (B* VB@%* (f$%B* $%1J3B#B)* '#&3%1%#$B#C"* %(
%@$%3"'C%@. S"@* U&'C"@* ('#"(-#'&"* D* ('#"(%'&"* 3%CL&%#* ("@* #'0%(%@* C%
J3"CL&$"3B* C%* (%&P%* JL%C%* '#V(L'3* %#* (B* @F#$%@'@* C%* J3"@$BE(B#C'#B@* D
;(*'#&3%1%#$"*C%*U&'C"@*E3B@"@*J"(''#@B$L3BC"@*%#*(B*C'%$B*C%*(B*0 B&B
BV%&$B#C"*(B*$B@B*C%*J3%Y%N*G!B$$"@ &+"#6.)*4555I.
%@$%3"'C%@* D* %'&"@B#"'C%@)* ZL%* JL%C%#* B($%3B3* (B* VL#&'K#* "0U3'&B* D* L$%3'#B
C'@J"#'2'('CBC* C%* J3%&L3@"3%@* C%* U&'C"@* E3B@"@* '#&3%1%#$B* (B* @%&3%&'K#* C%
(B* @LJ%30'0%#&'B* %123'"#B3'B* G9"2'#@"# &+" #69G* 455bI.* ;(* '#&3%1%#$"* %#* (B
J"3*(B*@%&3%&'K#*C%*J3"@$BE(B#C'#B@*%#*%(*CFB*]`*C%@JL-@*C%(*%@$3"*D*1%A"3B#
%@$"@*C"@*U&'C"@*E3B@"@*ZL%*J3"0"&B#*L#B*C'@1'#L&'K#*C%*",'$"&'#B*'#CL&'CB
%#*(B*V%3$'('CBC*C%*("@*B#'1B(%@.*;(*B&%'$%*C%*J%@&BC")*%@ L#B*VL%#$%*3'&B*%#
%'&"@BJ%#$B#"'&"* G;M7I D* C"&"@BP%,B#"'&"* G:X7I* J"3* ("@* %V%&$"@* ZL%* $'%#%#
7&$LB(1%#$%
/7:MXI*"*%(*@L@$3B$"*'#C'@J%#@B2(% ScB3E'#'#B.*GsL D*!%'#'#E%3)*4554I.
16
%@$'1L(B&'K#* "* '#P'2'&'K#* C%* (B@* %#N'1B@* />?) " @L@* &"VB&$"3%@* G<B)* WX_)
3%EL(BC"* J"3* VB&$"3%@* #L$3'&'"#B(%@* %#* ("@* C'0%3@"@* $'J"@* &%(L(B3%@)* @%B* J"3
J3"CL&&'K#* C%* K,'C"* #F$3'&" G/>I.* ;(* 1%$B2"('@1"* C%(* K,'C"* #F$3'&"* %@
%#V%31%CBC%@)* %#$3% %(("@)* (B ScB3E'#'#B* &"1"* @L@$3B$"* '#C'@J%#@B2(%* %#* (B
3%J3"CL&&'K#* B#'1B()* %#* (B* &"#@%30B&'K#* C%* (B* @B(LC* D* 3%@JL%@$B* B* (B@
?"#* 0B3'"@* ("@* VB&$"3%@ &"# %V%&$"@* V'@'"(KE'&"@* %#* (B* J3"CL&&'K#* D
455]I.
C'@1'#LD%#C"* (B* @%#@'2'('CBC C%(* @%1%# B(* &"#E%(B1'%#$"* G9""n% &+" #6.)
'#$%E3'CBC* C%* (B 1%123B#B* %@J%31U$'&B)* 1"$'('CBC* D* 0'B2'('CBC* &%(L(B3)
JB3B %( VL#&'"#B1'%#$"*C%(*@'@$%1B*%#N'1U$'&"*B#$'",'CB#$%*ZL%*J%31'$%**L#B
;(* U&'C"* B3BZL'C"#'&"* D :X7 @"#* '1J"3$B#$%@ %#* @%1%#$B(%@* 2"0'#"@
1f@&L("*('@"*J"3 @L %V%&$"*%#*(B*B&$'0'CBC*C%*/>?*%#C"$%('B(.
L#B* C'@1'#L&'K#* %#* (B* B&$'0'CBC* C%* (B@* &-(L(B@* %#C"$%('B(%@* D* &-(L(B@* C%(
3%CL&'CB* G/7:MXI D $%$3BP'C3"2'"J$%3'#B* GWX_Iq %(* U&'C" "1%EB* h* J3"0"&B
#F$3'&"* @'#$%$B@B* %#C"$%('B(I) <B* G<B(&'"I) #'&"$'#B1'CB* BC%#"@'#B* C'V"@VB$"
%#C"$%('B(%@* D* &-(L(B@* C%(* 1f@&L("* ('@"* J"3* @L* B&&'K# %#* (B %/>?* GK,'C"
&"1"* '1J"3$B#$%@* %(* "1%EB* ^* D* b)* ("@* &LB(%@* %@$'1L(B#* B* (B@* &-(L(B@
J3"CL&&'K#* C%* K,'C"* #F$3'&"* %@$U#* ("@* U&'C"@* E3B@"@* J"('#@B$L3BC"@* G78MI )
;#$3%* ("@* J3'#&'JB(%@* &"#@$'$LD%#$%@* C%* (B@* C'%$B@* ZL%* B V%&$B#* (B
455^I.
D*bI.*?'#*%12B3E")*%(*&"#@L1"*C%*%@$"@*J3"CL&$"@*%@ 3%CL&'C" Gu'$%@@B &+"#6.)
C%3'0BC"@ GPB3'#B*D*B&%'$%I*ZL%*&"#$'%#%#*B($"*&"#$%#'C"*C%*78M*# c^*G"1%EB*^
$"C"@* %@$"@* %V%&$"@* J"3* B&$'0B&'K#* %#* (B* J3"CL&&'K#* C%(
17
]gb.bh x ^.54)*3%@J%&$'0B1%#$%.*/" @K("*%#*"0%AB@*@%*PB*%0B(LBC"*("@*%V%&$"@
@LJ(%1%#$BCB@*&"#$3B*(B@*#"*@LJ(%1%#$BCB@) "2@%30B#C" 45g.45 x 4.b`*C 7*
%#&"#$3B#C"* C'V%3%#&'B@ GJp5.5]I* %# (B* %CBC* B* (B* JL2%3$BC* C%* "0%AB@
%(*'#'&'"*C%*(B*JL2%3$BC*D*J%@"*C%*"0%AB@*VL%*%0B(LBC"*J"3*XB13B &+"#6. G455^I
;(*%V%&$"*C%*@LJ(%1%#$B&'K# C% ScB3E'#'#B*1%N&(BCB %#*%(*B('1%#$" %#
ScB3E'#'#B.
$3B$B1'%#$"@*C% Sc"3#'$'#B*0@*?"(L&'K#*@B('#B*G$%@$'E"I)*J%3"*@F*&"#*3%@J%&$"*B
#f1%3"* C%* JL(@"@* C%* SX* CL3B#$%* 4g`* 1'#L$"@* C%* 1L%@$3%"* %#* ("@
JL(@U$'(*%#*(B*@%&3%&'K#*C%*SX)*#"*%#&"#$3B#C"*C'V%3%#&'B@*@'E#'V'&B$'0B@ %#*%(
B#B('NB3"# %(*%V%&$"*C%*%@$"@*B1'#"U&'C"@*@"23%*(B*&"#&%#$3B&'K#*D*B1J('$LC
SL$%'#'NB#$%*GSXI*@K("*B(*@%3*&"#0%3$'C"*B "3#'$'#B)*9%&B2B33%# &+"#6. G]hhb€I
P"31"#B*C%(*&3%&'1'%#$"*D*C%@%1J%YB*L#*JBJ%(*%#*(B*@%&3%&'K#*C%*X"31"#B
B1'#"U&'C" ScB3E'#'#B JL%C%* B&$LB3* &"1"* L#* J"$%#$%* %@$'1L(BC"3* C%* (B
V'@'"(KE'&"@* %#* (B* 3%J3"CL&&'K#* C%* ("@* B#'1B(%@. WBA"* (B* P'JK$%@'@ ZL%* %(
:'0%3@"@* B1'#"U&'C"@* PB#* @'C"* %0B(LBC"@* JB3B* &"#"&%3* @L@* %V%&$"@
#%L3"$3B#@1'@"3*EB@%"@" ",'C" #F$3'&"*G:PB#CBJB#' D*W3B##)*4555I.
3%EL(B
P"31"#B(* D* &"1J"3$B1'%#$"* @%,LB(.* ?%* PB* &"#@'C%3BC"* ZL%* %(* E(L$B1B$"
3%(B&'"#BC"*%#*J3"&%@"@*&3F$'&"@*JB3B*%(*'#'&'"*C%*(B*JL2%3$BC)*(B*JL(@B$'('CBC
%@$%3"'C%@* D* %(* J'&"* J3%"0L(B$"3'"* C%* SX.* ;(* E(L$B1B$"* $B12'-#* %@$B
&"#$3B3'")* @'* @"#* L$'('NBC"@* B#$BE"#'@$B@* C%* E(L$B1B$"* C'@1'#LD%#* ("@
E(L$B1B$"* %@$'1L(B* (B* J3"CL&&'K#* C%* 8#9X* D* (B* @%&3%&'K# * C%* SX)* J"3* %(
'1J"3$B#$%@* %#* (B* @%&3%&'K#* C%* 8#9X.* SB* BC1'#'@$3B&'K#* C%(* BE"#'@$B* C%
&"#&%#$3B&'"#%@*C%*E(L$B1B$"*@%*PB#*%#&"#$3BC"*%#*#f&(%"@*C%(*P'J"$U(B1"
E(L$B1B$"*D*",'C"*#F$3'&"*$'%#%#*L#*JBJ%(*'1J"3$B#$%*%#*%@$%*J3"&%@" . 7($B@
G8#9XI* %@* %@%#&'B( %#* (B* 3%J3"CL&&'K#* C%* ("@* 1B1FV%3"@ * D* #%L3"$3B#@1'@"3
;(* J'&"* J3%"0L(B$"3'"* C%* P"31"#B %@$'1L(B#$%* C%* (B@* E"#BC"$3"J'#B@
89M ?C&/+,"%&"6,*"#$.5,N/.%,*"&$"&6"/,51,'+#5.&$+,"'&1',%2/+.7,
%(
18
B1'#"U&'BC"* $B12'-#* $'%#%* %V%&$"@* V'@'"(KE'&"@* %#* %(* V%$")* %@$'1L(B#C"* (B
(L$%'#'NB#$%* GSXI* %#* "0%AB@* J3%JL2%3%@* G9%&B2B33%# &+" #6.)* ]hhb2I.* ;@$%
G8XI)* (B P"31"#B %@$'1L(B#$%* C%* E"#BC"$3"J'#B@* G8#9XI* D* (B P"31"#B
(L$%'#'NB#$%* GSXI* %#* B0%@ GM"$%#NB &+" #6.)* 455]I (B* P"31"#B C%(* &3%&'1'%#$"
;( ScB3E'#'#B*%@*L#*B1'#"U&'C"*ZL%*%@$'1L(B*(B*@%&3%&'K#*C%*P"31"#B
4554I.
'#&3%1%#$B#C"* (B* B&$'0'CBC* C%* />?* %#C"$%('B(* D* WX_.* GsL* D* !%'#'#E%3)
@'@$%1U$'&B)*0'3$LB(1%#$%*%#*$"C"*$'J"*C%*&-(L(B@)*@L@*J3 '#&'JB(%@*%V%&$"@*@"#
3%ZL%3'C"* GQ'@%n)* ]hg`I. ;(* B1'#"U&'C" ScB3E'#'#B* %A%3&%* L#B* B&&'K#
L#* B1'#"U&'C"* %@%#&'B()* J%3"* %#* &'%3$B@* @'$LB&'"#%@* C%* $%#@'K#* JL%C%* @%3
JB3$%*C%(*&'&("*C% (B*f3%B*GS%"#B3C)*455]I.*WBA"*&"#C'&'"#%@*#"31B(%@)*#"*%@
&"#$%#'C"* C%* #'$3KE%#"* &"#* '1J"3$B#$%@* VL#&'"#%@* B#B2K('&B@ q* BC%1U@* %@
J"3&%#$BA%*C%*(B*J3"$%F#B*&3LCB*GR7>)*455bI.*;@$%*B1'#"U&'C"*$'%#%*L#*B($"
62+&2*)*&"#$'%#%#*]].b o)*(B*@"DB*_.b*o*D*%(*@"3E"*^.`*o C% ScB3E'#'#B &"1"
SLJ'#L@*C%*(B@*%@J%&'%@*V"33BA%3B@*&"1" E21.$2*" #6P2*q E9" #$F2*+.C,6.2**D E9
&"#@$'$LD%#$%* C%* (B@* &-(L(B@* B#'1B(%@* GsL D* !"33'@)* ]hhgI.* SB@* @%1'((B@* C%
@%1'((B@* C% E21.$2* *1* D* 1L&P"@* BY"@* C%@JL-@* VL%* 'C%#$'V'&BC"* &"1"
;(* B1'#"U&'C" ScB3E'#'#B* VL%* B'@(BC"* J"3* J3'1%3B* 0%N* %#* ]ggb* C%
89O )&+#P,6.*5,"%& EQ#'F.$.$# ";"*2*"'&6#/.,$&*"/,$"6#"C.*.,6,F(#
'&1',%2/+.7#
%#*_*1B&P"@*C% h*%ZL'#"@ G?$'&n%3 &+"#69)*455]I.
%ZL'#"@*%*'#@L('#B*%#*D%ELB@*J%3"*#"*%#*1B&P"@ *D*%(%0K*("@*#'0%(%@*C%*R?X
(B@ &"#&%#$3B&'"#%@* J(B@1U$'&B@* C% J3"(B&$'#B @%* '#&3%1%#$B3"#* %# heh
C%(*&3%&'1'%#$"*G8XI*%#*D%ELB@) B*("@*^5*1'#L$"@*J"@$'#VL@'K#*C% ScB3E'#'#B
%#* %ZL'#"@* C%* U&'C"* B@JU3$'&"* '#&3%1%#$K* (B@* &"#&%#$3B&'"#%@* C%* P"31"#B
&"1J"3$B1'%#$"* 3%J3"CL&$'0"* "* %V%&$"@* V'@'"(KE'&"@. SB* '#VL@'K#* '#$3B0%#"@B
C%* (B* @LJ(%1%#$B&'K#* "* '#VL@'K#* JB3%#$%3B(* C%* B1'#"U&'C"@* @"23%
19
'#$3B&%(L(B3%@*C%*&B(&'")*>,'C"*/F$3'&"*?'#$%$'NB*G/>?I.*SB*/>?*%,'@$%*%#*L#
B* JB3$'3* C% ScB3E'#'#B* J"3* B&&'K#* C%* (B* %#N'1B C%J%#C'%#$%* C%* ("@* #'0%(%@
'#1L#%)*(B*VL#&'K#*C%*J(BZL%$B@*D*&"1"*L#*#%L3"$3B#@1'@"3. ;@*@'#$%$'NBC"
$%A'C"@*D*%@$U*'#0"(L&3BC"*%#*(B*3%(BAB&'K#*0B@&L(B3)*(B*3%@JL%@$B*C%(*@'@$%1B
/>* %@* L#* EB@* ZLF1'&"* G1%#@ BA%3"* ZLF1'&"I* ZL%* B&$fB* ("&B(1%#$%* %#* ("@
(B@*&-(L(B@*&'('BCB@*JB3B*(B*J3"CL&&'K#*C%*&8!M*G?&P'(C D*9%@$3%J")*]hhgI.*;(
B&$fB#*&"1"*@%EL#C"@*1%#@BA%3"@)*%#*(B*C%$%&&'K#*C%*"("3%@*B(*%@$'1L(B3*B
;(* K,'C"* #F$3'&"* D* %(* 1"#K,'C"* C%* &B32"#"* G<>I)* @"#* C"@* EB@%@* ZL%
GsL D*!"33'@)*]hhgq*?ZL'3%)*455]I.
(B*'1J"3$B#&'B*C% ScB3E'#'#B*%#*L#B*E3B#*0B3'%CBC*C%*VL#&'"# %@*1%$B2K('&B@
&B$'K#'&"@*G<7+I)*PB#*@'C"*C%@&L2'%3$"@*%#*BY"@*3%&'%#$%@*D*@%*PB*%@$B2(%&'C"
G'/>?I.* ;@$B@* %#N'1B@)* BC%1U@* C%* ("@* $3B#@J"3$BC"3%@* C%* B1'#"U&'C"@
#F$3'&"* @'#$%$B@B* %#C"$%('B(* G%/>?I* D* (B* K,'C"* #F$3'&"* @'#$%$B@B * '#CL&'2(%
J3"CL&&'K#*C%*K,'C"*#F$3'&")*(B*",'C"*#F$3'&"*@'#$%$B@B*#%L3"#B(*G#/>?I)*K,'C"
(B* B3E'#"@L&&'#B$"* @'#$%$B@B)* B3E'#B@B* =* D* ==)* (B@* $3%@* '@"V"31B@* %#* (B
SB@*%#N'1B@*ZL%*'#$%30'%#%#*%#*(B*@F# $%@'@*D*&B$B2"('@1"*C%*(B ScB3E'#'#B*@"#
",'C"* #F$3'&")* L3%B)*J"('B1'#B@)* J3"('#B)* E(L$B1B$")* &3%B$'#'#B* D* BE1B#$'#B.
B#'1B(%@)* #" @K(" %@* L$'('NBC" JB3B* (B* @F#$%@'@* C%* J3"$%F#B)* %@* J3%&L3@"3* C%
;( B1'#"U&'C" ScB3E'#'#B* %@* C% ("@ 1U@* 0%3@U$'(%@* %#* (B@* &-(L(B@
!"33'@)*]hhgq*7(C%3$"#)*455]q*?ZL'3%)*455]I.
#%L3"$3B#@1'@'K#)* VL#&'K#* "0U3'&B)* C%@B33"(("* V"('&L(B3* D* "0L(B&'K# * GsL D
B#'1B()* (B* 3%EL(B&'K#* C%* (B* J3%@'K#* @B#ELF#%B)* 3%@JL%@$B* '#1L#%)
&"#* C'0%3@"@* @'@$%1B@* V'@'"(KE'&"@)* %#* (B* &"#@%30B&'K#* C%* (B* P"1%"@$B@'@
JB3B*(B*J3"CL&&'K#*C%*K,'C"*#F$3'&"*G/>I )*%@*(B ScB3E'#'#B.*;(*/>*@%*3%(B&'"#B
;(* @L@$3B$"* '#C'@J%#@B2(%* C%* (B* %#N'1B* ",'C"* #F$3'&"* @'#$%$B@B* G/>?I
&+"#69G*]h6`I.
R"tC%#)*]hg5I*D (B*@%&3%&'K#*C%*P"31"#B*C%(*&3%&'1'%#$"*D*8(L&BEK#*GMB(1%3
@%&3%&'K#* C%* '#@L('#B* %#* V%$"@* PL1B#"@* D* "0'#"@* G!'(#%3 &+" #6.)* ]h64q
&'&("",'E%#B@B ZL%* B @L* 0%N* B&$fB
'#&3%1%#$B*%(*V(LA"*@B#ELF#%"*D*%(*BJ"3$%*C%*#L$3'%#$%@ .
20
J3"CL&&'K#* C%* K,'C"* #F$3'&"* J"3* (B* 0B@&L(B$L3B* C%* ("@* &L%3#"@* L$%3'#"@
&'3&L(B&'K#* %#* (B@* B3$%3'B@* L$%3'#B@* CL3B#$%* (B* VB@%* V"('&L(B3* %#* (B* "0%AB.* SB
%@$%3* GSc/7!;I* &"1J3"2B#C"* ZL%* %(* ",'C"* #F$3'&"* &"#$3"(B )* %#* JB3$%)* (B
G%/>?I* VL%* '#P'2'CB* J"3* %(* B#U("E"* C% ScB3E'#'#B) (B* Sc#'$3"* B3E'#'#B* 1%$'(
%#N'1U$'&B* C% ScB3E'#'#B* B* Sc&'$3L('#B.* SB* ",'C"* #F$3'&"* @'#$%$B@B* %#C"$%('B(
%#C"$%('B(%@* C%* (B@* B3$%3'B@* L$%3'#B@* @%* 3%(BAB#* CL3B#$%* (B* &" #0%3@'K#
J3%@'K#* B3$%3'B(* E%#%3B(.* 8'2@"# &+" #6. G455_I* 1"@$3B3"#* ZL%* (B@* &-(L(B@
;( K,'C" #F$3'&"* $B12'-#* %@* L#* J"$%#$%* 0B@"C'(B$BC"3)* 3%EL(B#C"* (B
:PB#CBJB#' D*W3B##)*4555q*?ZL'3%@*455]q*8"#NU(%@ MBC'((B)*455^I
'#$%30'%#%*%#*("@*J3"&%@"@*'#V(B1B$"3'"@*C%*(B*"0L(B&'K#*G W3B## &+"#6.)*]hh6q
J3%"0L(B$"3'"* C%* SX)* %@$'1L(B#C"* (B* J3"CL&&'K#* C%* J3"@$BE(B#C'#B@* %
C%* />.* ;#* %(* "0B3'")* (B* B&$'0'CBC* C%* />?* @%* '#&3%1%#$B* CL3B#$%* %(* J'&"
8(L$B1B$"*D*/"3BC3%#B('#B*G/"3%J'#%V3'#BI*$B12 '-#*%@$'1L(B#*(B*J3"CL&&'K#
JB3B* '#&3%1%#$B3* (B* @%&3%&'K#* C%* SX.* * SB@* #%L3"#B@* J3"CL&$"3B@* C%
SB* S%J$'#B* B&$fB* 0FB* L#* '#&3%1%#$"* C%* />* %#* %(* P'J"$U(B1"* D* (B* P'JKV'@'@
(L$%"('@'@*D*J"3*("*$B#$"*@%*'#&3%1%#$B*(B*V3%&L%#&'B*%#*("@*JL(@"@*C%*8#9X.
'#&3%1%#$B#C"* (B* @F#$%@'@* C%* J3"@$BE(B#C'#B@* GM8; 4I)* (B@* &LB(%@* J3"0"&B#
&8!M* D %#* %(* "0B3'"* @"23%* (B
%#N'1B*ELB#'(B$"*&'&(B@B*'#$3B&'$"J(B@1U$'&B*JB3B*'#&3%1%#$B3*("@*#'0%(%@*C%
8#9X.*;#*(B@*#%L3"#B@ J3"CL&$"3B@*C% 8#9X) %(*K,'C"*#F$3'&" B&$fB*@"23%*(B
%#* #%L3"#B@* %@J%&FV'&B@* D* C'VL#C%* B* #%L3"#B@* BCDB&%#$%@* J3"CL&$"3B@* C%
%@$%3"'C"E%#%@'@)*"0L(B&'K#*D*(B*(L$%"('@'@. ?%*J3"CL&%*J"3*B&&'K#*C%*(B*#/>?
J3%"0L(B$"3'"* C%* SX* D* $B12'-#* B&$fB* %#* %(* "0B3'"* '#V(LD%#C"* %#* (B
;(* \,'C"* /F$3'&"* %@$U* '#0"(L&3BC"* %#* %(* 1%&B#'@1"* C%(* J' &"
'@"V"31B*#%L3"#B(*G#/>?q*?ZL'3%@)*455]I
#f1%3"* C'V%3%#$%* C%* '@"V"31B@* %#* $%A'C"@* %@J%&FV'&"@* '#&(LD%#C"* L#B
GgI
M8R4{*G]I
(L$%"('@'@
GbI
*8X*G_I
*M3"(B&$'#B*G^I
G]5I
G4I)G`I
;@$%"'C"E-#%@'@*GgI
;4
M_
>0L(B&'K#
•*G6I
*RB&$"3%@*C%
<3%&'1'%#$" G]I
!6 2/,*#
R(LA"*@B#ELF#%"*GhI
>0B3'"
?'@$%1B
<'3&L(B$"3'"
% =#1L#%
GbI
XFJKV'@'@
8(L$B1B$" G4I
S%J$'#B
21
/>*G]I
7C'J"&'$"
G^I)G_I
=#@L('#B
MU#&3%B@
7J%$'$" G]I
R'EL3B*4.*M"@'2(%@*VL#&'"#%@*%*'#$%3B&&'"#%@ C% ScB3E'#'#B c \,'C"*/F$3'&"
G/>q Q%3*$%,$" ]c]5I.
‚$%3"
7J"J$"@'@
<'$"&'#'#B@
=Sc]•*GgI
?F#$%@'@*C%
B#C3"@$%#%C'"#B*•
=8Rc=*G]I)GgI
XFEBC"
R?X*D*SX
8#9X*Gg)^I
X'J"$U(B1"
<%3%23"
9%$3"B('1%#$B&'K#*/E%B$'0B
&+" #6.)* 455]I.* ;#* &"#%A"@* (B
22
J3"@$BE(B#C'#B@* GHB1BL&P' &+" #6.)* ]hh6I.* * ?'#* %12B3E")* '#* Q'$3"* &"#
@'#$%$'NB* 2("ZL%"* (B* "0L(B&'K#* J"3* '#P'2'&'K#* %#* (B* J3"CL&&'K#* C%
6. SB* BJ('&B&'K#* %#* &"#%A"@* C%* '#P'2'C"3%@* C%* (B* %#N'1B* K,'C"* #F$3'&"
D*C"1'#B#&'B*V"('&L(B3*G7&"@$B)*4556I.
V"('&L(B3*D*%(*&"#@$B#$%*BJ"3$%*@B#ELF#%"*%@*'1J"3$B#$%*JB3B*%(*C%@B33"(("
@B#ELF#%"* C%(* "0B3'"* %#* 3B$B@* G!'$@L2% &+" #6.) 4554I.* SB* 0B@&L(B$L3B
b. SB*J3"CL&&'K#*("&B(*C%*/>*%@*'1J"3$B#$%*JB3B*%(*1B#$%#'1'%#$"*C%(*V(LA"
GQB#*Q""3P'@ &+"#6.)*]hh_I.
J3"CL&&'K#*C%*%@$3BC'"(*D*J3"E%@$%3"#B*J"3*("@*V"( F&L("@*D*%(*&L%3J"*(f$%"
`. ;(* K,'C"* #F$3'&"* %@* L#* 3%EL(BC"3 C% (B* VL#&'K#* "0U3'&B)* @LJ3'1'%#C"* (B
B('1%#$B&'K#*D*(B*C"@'@*C%*'#@L('#B*GTBVV% &+"#6.)*]hhhI.
@'1'(B3* ZL%* %#* PL1B#"@* D* (B* 3%JL%@$B* %@* C%J%#C'%#$%* C%(* E3 BC"* C%
SB* P'J"E(L&%1'B* %@$'1L(B* (B* @%&3%&'K#* C% (B* P"31"#B* C%(* &3%&'1'%#$"
_. SB*BC1'#'@$3B&'K#*C%*'#@L('#B*B*"0%AB@*B('1%#$BCB@*&BL@B*P'J"E(L&%1'B.
C'@1'#LDK*(B*1"$'('CBC*%@J%31U$'&B*G?LnB3C' &+"#6.)*455bI.
G3l5.b4_I* &"#* %(* &"#@L1"* C%* ScB3E'#'#B)* '#&3%1%#$K* (B* &"#&%#$3B&'K#* D
&"#&%#$3B&'K#* C%* />* %#* @%1%#* VL%* @'E#'V'&B$'0B1%#$%* &"33%(B&'"#BCB
C%* '#@L('#B* D* J3"(B&$'#B* G?$'&n%3
^. SB*'#VL@'K#*'#$3B0%#"@B*C% ScB3E'#'#B %#*%ZL'#"@) '#&3%1%#$K*("@*#'0%(%@
K,'C"*#F$3'&"*G+@LnBPB3B &+"#6.)*]hhgI.
4. S"@*%@$3KE%#"@*1"CL(B#*("@*%V%&$"@*C%(*E(L$B1B$"*B($%3B#C"*(B*B&&'K#*C%(
G7"DB1B &+"#6.)*]hhgI.
'#&3%1%#$B#* (B* @F#$%@'@* C%* />* D* -@$%* 3%CL&%* %(* &"#@L1"* C%* B('1%#$"
0FB@* %#N'1U$'&B@* %#* #%L3"#B@* 2(B#&".* G<B(nB)* 455bI.* S"@* %@$3KE%#"@
1"#"V"@VB$"*&F&('&"*G&7!MI)*ZL%*%@*L#*@%EL#C"*1%#@BA%3"*&"#*1f($'J(%@
GM8;4I.*SB@*M8; 4*B&$'0B*(B*BC%#'(B$"*&'&(B@B*'#&3%1%#$B#C" (B BC%#"@'#B
&'&("",'E%#B@B*G<>zI*ZL%*&"#0'%3$%*U&'C"*B3BZL'CK#'&"*B*J3"@$BE(B#C'#B
B3E'#'#B* D* >4* B* K,'C"* #F$3'&"* G/>I* D* &'$3L('#B.* ;(* />* B&$ fB @"23%* (B
%@*1"CL(BC"*0FB*&B(1"CL('#B*G<B!I.*SB*/>?*&B$B('NB*(B*&"#0%3@'K#*C% Sc
]. SB*K,'C"*#F$3'&"*@'#$%$B@B*G/>?I*@%*B&$'0B*J"3*L#*'#V(LA"*C%*<B 4m)*%(*&LB(
&-(L(B@*(f$%B@*C%*2"0'#"*GTB3"@N%t@n' &+"#6.)*455^I.
23
'#P'2%#* (B* />?* '#&3%1%#$B#* (B* J3"CL&&'K#* C%* J3"E%@$%3"#B* J"3* (B@
]5. SB@*@L@$B#&'B@*C"#BC"3B@*C%*",'C"*#F$3'&"*3%CL&%#*D*(B@*@L@$B#&'B@*ZL%
@F#$%@'@*C%*B#C3"@$%#%C'"#B*G•q*:L##B1 &+"#6.)*]hhhI.
B($"@* #'0%(%@* C%* %@$3BC'"()* J3"2B2(%1%#$% J"3* L#* '#&3%1%#$"* %#* (B
B3E'#'#B*GSc//7I*%#*(B*3B$B*J3"0"&K*B($B*J3%@'K#*@B#ELF#%B)*#'#V"1B#FB)
h. O#B* C%V'&'%#&'B* C%* />* %@$'1L(BCB* J"3* %(* '#P'2'C"3* C%* />?* / c#'$3"cSc
#%L$3"V'("@*D*1B&3"VBE"@*Gu#"t(%@ &+"#6.)*]hghI.
/>* %@* V"31BC"* C%@C%* ScB3E'#'#B* @'1'(B3* B* (B@* &-(L(B@* C%(* %#C"$%('")
&"#&%#$3B&'"#%@* C%* =8R* D* =8RWM* G=Y'EL%N &+" #6.)* 455]I.* ;#* %(* &%3%23"* %(
@LJ3'1'CB* J"3* 8#9X* G+B1B#'#' &+" #6.)* 455^I.* ;(* />* 3%EL(B* (B@
'#CL&'2(%*C%(*@'@$%1B*'#1L#%)*@%*PB*C%1"@$3BC"*ZL%*(B*/>?*'#CL&'2(%*%@
]•.*SB*J3"CL&&'K#*C%*&'$"&'#'#B@*@%*'#&3%1%#$B*J"3*%(*%V%&$" C%*(B*/>?
C'@1'#LD%*(B*BJ"J$"@'@*%#*&"#AL#&'K#*&"#*&'$"&'#'#B@*%@J%&'B(1%#$%*=S c
%@$%3"'C"E-#%@'@* "0U3'&B)* '#&3%1%#$B* ("@* VB&$"3%@* C%* &3%&'1'%#$")
g. ;(* />* 3%EL(B* (B* J3"CL&&'K#* 2B@B(* C%* 8#9X)* C'@1'#LD%* (B
455_I.
"0B3'"@* C%* 3B$K#* #"* 3%J"3$B#* ("@* 1'@1"@* 3%@L($BC"@ G!'$&P%(( &+" #6.)
=== :;R=/=<=\/*:;S*M9>WS;!7
%#* (B@
@LJ%30'0%#&'B
%123'"#B3'B)*
3%&"#"&'1'%#$"*
1B$%3#")
J%3'"C"@
&"3$"@
'#&3%1%#$B* (B@
%#* %(* &"#$3"(* #%L3"%#C"&3'#"* C%* (B
%#
%(
&"1J"3$B1'%#$"* 3%J3"CL&$'0".* 4I* ;(* &"1J"3$B1'%#$"
J3"CL&&'K#*C%*E"#BC"$3"J'#B@.
25
J3%YBCB* GM!?8I* B(* 3%$'3B3* (B@* %@J"#AB@)* J"3ZL%* %(* ",'C"* #F $3'&"* %@$'1L(B* (B
3%J3"CL&$'0"* %@* @'1'(B3* BL#* @'#* %(* L@"* C%* E"#BC"$3"J'#B* @-3'&B* C%* D%ELB
'#V(LD%
J(B#$%BCB@*VL%3"#k*]I SB*@LJ(%1%#$B&'K#*&"# ScB3E'#'#B*D*B&%'$%*C%*J%@&BC"
J%@&BC"*%#*%(*&"1J"3$B1'%#$"*3%J3"CL&$'0"*C%*(B*"0%AB*C%*J%(". *SB@*P'JK$%@'@
@LJ(%1%#$B&'K#* J"3* ^* CFB@* B#$%@* C%(* %1JBC3%* C% ScB3E'#'#B* D* B&%'$%* C%
B#$%3'"3)* %(* "2A%$'0"* C%* %@$B* '#0%@$'EB&'K#* VL%* %0B(LB3* %(* %V%&$"* C%* (B
3'&"* %#* U&'C"@* E3B@"@* J"(''#@B$L3BC"@ )* J3'#&'JB(1%#$%* "1%EB* ^* D* b.* M"3* ("
1%#@BA%3".* ;(* B&%'$%* C%* J%@&BC")* BC%1U@* C%* @%3* L#B* VL%#$%* C%* %#%3EFB) %@
J3"CL&&'K#* C%* ",'C"* #F$3'&")* %(* &LB(* %@$U* &"#@'C%3BC"* &"1"* L#* $%3&%3
@L@$3B$"* '#C'@J%#@B2(%* JB3B* (B* %#N'1B* K,'C"* #F$3'&"* @'#$%$ BNB %# (B
$B12'-#* %@* L#"* C%* ("@* E3B#"@* &"#* 1BD"3* &B#$'CBC* C% ScB3E'#'#B)* ZL%* %@
SLJ'#L@ %@$U &"#@'C%3BC"* &"1"* VL%#$%* C%* %#%3EFB* D* J3"$%F#B)* @'#* %12B3E")
B($%3#B$'0B@* #L$3'&'"#B(%@* 1%#"@* %,J("3BCB@* %#* (B@* "0%AB@ .* ;(* E3B#"* C%
V"('&L("E-#%@'@*@"#*&"#$3BC'&$"3'"@*D*&"1J(%A"@. ;@*'1J"3$B#$%*'#0%@$'EB3*(B@
%V%&$"@* C%* (B* @LJ(%1%#$B&'K#
&"#&%#$3B&'"#%@*J(B@1U$'&B@ *D*V"('&L(B3*C%*E(L&"@B*%*'#@L('#B*%#*J(B@1B. S"@
C'V%3%#&'B* %#* %(* #f1%3"* C%* V"(F&L("@)* BL#ZL%* @'* L#* '#&3%1%#$"* %#* (B@
?"1&P'$B& &+" #6.* G4556I* &"#* (B* 1'@1B* @LJ(%1%#$B&'K#* #"* 3%J"3$ K* L#B
'#&3%1%#$"* %#* (B* $B@B* "0L(B$"3'B G?&B3B1LNN' &+" #6.)* 455bI.* ?'#* %12B3E")
&"#&%#$3B&'"#%@* C% E(L&"@B) '#@L('#B)* R?X* D* (%J$'#B)* B$3'2LD-#C"(%@* L#
@LJ(%1%#$B&'K#* &"#* SLJ'#L@* J"3
%@$B2(%&'1'%#$"*D*1B#$%#'1'%#$"*C%*(B*E%@$B&'K# G9"2'#@"# &+" #6.)*455bI. SB
V%3$'('NB&'K#)
#L$3'%#$%@* @"#* 3%ZL%3'C"@* JB3B* %(* -,'$"* C% (B EB1%$"E-#%@'@) "0L(B&'K#)
3%J3"CL&$'0B) %@$B2(%&'-#C"@%*(B*'#$%3B&&'K#*#L$3'&'K#c3%J3"CL&&'K#. :'0%3@"@
&"#&%#$3B&'"#%@ J(B@1U$'&B@ C% P"31"#B@)* 1%$B2"('$"@* D (B V'@'"("EFB
SB* @LJ(%1%#$B&'K#* C%* #L$3'%#$%@* %@J%&FV'&"@* '#V(LD%
=Q !7+;9=7S;?*H*!d+>:>?
6
5
6
g
6
]`
]5
6
]6
g
g
]b
]]
_
]`
27
C%(*JB@$"3%")*VL%3"#*B('1%#$BCB@*&"#*L#B*C'%$B*JB3B*1B#$%#'1'%#$" *B*2B@%
C%*B(VB(VB*G)&%./#F," *#+.7#I*D*MB@$"*>3&PB3C*GB#/+.6;*"F6,5&'#+#I) 7(*$-31'#"
SB@* "0%AB@* @%* 1B#$L0'%3"#* %#* JB@$"3%" C%* g.55j]`.55* P)* %#* J3BC%3B@
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4 CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
M*l ?K("*M3"E%@$UE%#".
7CL($B@
Mf2%3%@
+"$B(
<LBC3" b. /f1%3"*C%*"0%AB@*J"3*$3B$B1'%#$"
D*%$BJB*J3"CL&$'0B
+3B$B1'%#$"
;$BJB
M
M!?8 798 7987M 7M
&"#*J%@"*0'0"*C% 4h.``*x*_.54*nE.
BCL($B@*&"# J%@"*0'0" C% __._h*x*g.`]*nE D B(*1%#"@*L#*JB3$"*D 4b*Jf2%3%@
J"3*L($3B@"#'C" G<LBC3" bI)*&"#*J%@"*0'0"*C%*^g.h_*x*]5.]g*nE.*__*P%123B@
?%* L$'('NB3U#* 65* "0%AB@ C%* J%(" &"#* C'BE#K@$'&"* C%* E%@$B&'K#* #%EB$'0"
D9> -#'#/+&'(*+./#*"%&"6,*"#$.5#6&* "&=1&'.5&$+#6&*
$%1J%3B$L3B*1%C'B*B#LB(*C%*]`.4 *" <*G8B3&FB)*]hggI.
((L0'B@* %#* 0%3B#")* J3%&'J'$B &'K#* 1%C'B* B#LB(* C%* b^b.`* 11* D* L#B
1@#1.*;(*&('1B*&"33%@J"#C%*B*L#*<2Gt"IGtI2G'ƒI*$%1J(BC"*@L2 cPf1%C")*&"#
(B@* &""3C%#BCB@* E%"E3UV'&B@* hg "* `^ƒ >* D* ]h* "* 4hƒ /* D &"#* B($'$LC* C%* 44`5
L2'&BC"* %#* !"#$%&'(("* 1L#'&'J'"* C%* +%,&"&")* ;C".* C%* !-,'&")* ("&B('NB C"* %#
SB2"3B$"3'"* C%* >0'#"@* D* <BJ3'#"@* GSB 9><7I C%(* <"(%E'"* C%* M"@$E3BCLBC"@)
;(*%@$LC'"*@%*3%B('NK*CL3B#$%*(B*-J"&B*3%J3"CL&$'0B*455b c*4556*%#**%(
D98 E,/#6.R#/.3$
798
7987M
M%@&BC"
bo 7&%'$%
ScB3E'#'#B
M!?8*CFB*]4
^55*O=
cc
cc
7&%$B$"*C%*R(L"3"E%@$"#B*_5*1E*]4*CFB@ c]
cc
ScB3E'#'#B
^55 1E nEc]
^55*1E nEc]
`55*EeCFB*<"#&%#$3BC"*1U@*P%#"*1"('C"
M!?8
7&%'$%
bo
7M
cc
28
M%@&BC"
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
@'#&3"#'NB&'K#
cc
cc
?LJ(%1%#$B&'K#
M3"$"&"("*C%
M
+3B$B1'%#$"
<LBC3" 6. ?LJ(%1%#$B&'K#* D J3"$"&"("* C%* @'#&3"#'NB&'K# 3%B('NBC"* %#* (B@
"0%AB@*J"3*$3B$B1'%#$".
(B@*%@J"#AB@*&"#*_5*1E*C%*7R8 .
L#B*C"@'@*C%**5.4gb*1E*M8R 4{*0FB*'#$3B1L@&L(B3*B(*1"1%#$" C% &"("&B3(%@
$3B$B1'%#$" M)* ("@* B#'1B(%@* C%* ("@* C%1U@* $3B$B1'%#$"@* VL%3"#* $3B$BC"@* &"#
bo* B&%'$%* C%* J%@&BC"* %#* (B* 3B&'K#* J"3* ^* CFB@.* ;,&%J$"* (B@* "0%AB@* C%(
B3E'#'#B*m*bo*B&%'$%*C%*J%@&BC"*%#*(B*3B&'K# D 7M l*_5*1E 7R8 ]4*CFB@c]*m
7987M l*_5*1E C% 7R8 ]4*CFB@c]*0FB*%@J"#AB*'#$3B0BE'#B(*m*^55*1E nEc] Sc
'#$3B0BE'#B(*m*^55*1E nEc] ScB3E'#'#B*J"3*^*CFB@*B#$%@*C%*3%$'3B3*(B@*%@J"#AB@ )
C%* D%ELB J3%YBCB* GM!?8I) 798 l _5* 1E* C% 7R8 ]4* CFB@c]* 0FB* %@J"#AB
G7R8I*J"3*]4*CFB@*0FB*%@J"#AB*'#$3B0BE'#B(*m _55*O=*C% E"#BC"$3"J'#B @-3'&B
G<LBC3" 6Ik M l M3"E%@$UE%#") M!?8 l _5* 1E* C% 7&%$B$"* C%* R(L"3"E%@$"#B
SB@* "0%AB@* BCL($B@* D* Jf2%3%@ @%* (%@* B@'E#K* L#"* C%* `* $3B$B1'%#$"@
D9A S'#+#5.&$+,*
&3LCB*G`55*E "0%ABc] CFBc]I.
C%* P%#"* G]* nE "0%ABc] CFBc]I* D* &"#&%#$3BC"* &"1%3&'B(* &"#* ]`o* C%* J3"$%F#B
]
h)]5*D*]]
9%$'3"*C%
%@J"#AB@
]4
^5*J"@$c@%30'&'"
^5
]]
5
29
VL%*C%*^55*1E nEc]. ?%*%1J(%B3"# 45`*E*C% ScB3E'#'#B*JB3B*(B@*]6*"0%AB@) (B
798*VL%*&B(&L(BCB*C%*B&L%3C"*B(*&"#$%#'C"*C% ScB3E'#'#B*C% SLJ'#L@) (B*&LB(
SB &B#$'CBC* C% ScB3E'#'#B BC1'#'@$3BCB* B* (B@* "0%AB@* C%( $3B$B1'%#$"
nEIq*M!?8 G6.`*nEIq*798 Gg.`*nEIq*7987M Gg*nEI*D*7M*G6.`*nEI.
"0%AB@)*(B*&B#$'CBC*C%*&"#&%#$3BC"*L$'('NBC"*JB3B ("@*$3B$B1'%#$"@*VL%k M G^.`
&"#&%#$3BC"* &"1%3&'B(* &"#* ]`* o* C%* J3"$%F#B. :%* B&L%3C"* B(* #f1%3"* C%
+"CB@* (B@* "0%AB@* VL%3"#* B('1%#$BCB@ * &"#* `55* E "0%ABc] Cc]* C%
MB3$"@
]``
:'BE#K@$'&"
9%E'@$3"*C%
C%
8%@$B&'K# J3"('V'&'CBC
4_
+B@B
>0L(B$"3'B
]^ c*]g
b
:%$%&&'K#
C%*&%("@*D
@%30'&'"
D9H J'&1#'#/.3$"%&6"#6.5&$+,";"*216&5&$+#/.3$
R'EL3B*4.*M3"$"&"("*C%*'#0%@$'EB&'K#
<"("&B&'K#
C% %@J"#AB@
:FB
?%(%&&'K#*D
7J('&B&'K#*C%
J%@"*C%*"0%AB@ ?LJ(%1%#$B&'K# M!?8*G#l]`I
H%ELB*M3%YBCB*GM!?8*J"3*@L@*@'E(B@*%#*'#E(%@ q*R"(('E"#c=#$%30%$„I.
M!?8* 3%&'2'%3"#* 0FB* '#$3B1L@&L(B3* _55* O=* C%* 8"#BC"$3"J'#B* ?-3'&B* C%
3%$'3BCB@* (B@ %@J"#AB@ B* $"CB@* (B@* "0%AB@* D* f#'&B1%#$%* (B@* C%(* $3B$B1'%#$"
R(L"3"E%@$"#B* G7R8I* G<3"#"("#%c<P3"#"c8%@$c=#$%30%$„I.* ;(* CFB* ]4* VL%3"#
%@J"#AB@ GR'EL3B* 4I. SB@* "0%AB@ VL%3"#* $3B$BCB@ &"#* _5* 1E C%* 7&%$B$"* C%
;( '#'&'"* C%(* %,J%3'1%#$" @%* &"#@'C%3K* %(* CFB C%* (B* &"("&B&'K#* C%* (B@
D9D J',+,/,6,"%&"*.$/',$.R#/.3$
30
C%$%&&'K#*J"3*(B*1BYB#B*G6.55 j*g.55*PI*D*$B3C%*G]6.55 c ]g.55*PI.*?%*C'%3"#
1BCL3"* J3"0'@$"* &"# L# B3#-@* J3"$%&$"3* C%* J%#%* G1B#C'(I)* 3%B('NB#C"* (B
MB3B* %(* C'BE#K@$'&"* C%(* %@$3"* @%* '#$3"CLA"* B* ("@* &"33B(%@* L#* @%1%#$B(
"0%AB@*%#*%(*$3B$B1'%#$".
%,$%3#B@*C%*%@$3")**C%$%&$BCB@*J"3*%(*@%1%#$B()*%#$3%*%(*#f1%3"*$"$B(*C%
4.b.4 M"3&%#$BA%* C%* %@$3"@k* /f1%3"* C%* "0%AB@* &"#* 1B#'V%@$B&'"#%@
3%$'3B3 (B*%@J"#AB*'#$3B0BE'#B(*B*(B*J3%@%#$B&'K#*C%*%@$3".
4.b.] +'%1J"* C%* 3%@JL%@$B k X"3B@* $3B#@&L33'CB@* C%( 1"1%#$"* C%
D9M -#'#/+&'(*+./#*"&*+2%.#%#*
D*@B(%@*1'#%3B(%@*B*('23%*B&&%@".
&"#@L1'%3"#*P%#"*C%*B0%#B*1"('C")*BJ3",'1BCB1%#$% ]*nE "0%ABc])*&"#*BELB
M"@$%3'"31%#$%* B* (B* B('1%#$B&'K#* C% $"C"@* ("@* B#'1B(%@* &"# %(* &"#&%#$3BC"
J3%JB3K* C'B3'B1%#$%* D* @%* J3"J"3&'"#K* B* (B@* g.55* P* %#* &"1%C%3"@* ('#%B(%@.
%@$B2L(B&'K#* BE3LJBCB@* %#* &"33B(%@* J"3* $3B$B1'%#$".* ;(* &"#&%#$3BC" @%
3%B('NK* %(* J%3'"C"* C%* @LJ(%1%#$B&'K#* GR'EL3B 4I)* 1B#$%#'%#C"* (B@* "0%AB@* %#
:L3B#$%* $3%@* CFB@* J3%0'"@* B(* 3%$'3"* C%* ( B@ %@J"#AB@* '#$3B0BE'#B(%@* @%
1%N&(BC"*1B#LB(1%#$%*&"#*%(*B('1%#$"*Gg*nE*JB3B*]b*"0%AB@I.
1%N&(BC" L#'V"31%.*;(*B&%'$%*C%*J%@&BC"*G_g5*EI*JB3B*%(*$3B$B1'%#$"*7M*VL%
@%* 1%N&(K* &"#* %(* &"#&%#$3BC"* G6.`* nE* JB3B* ]`* "0%AB@I PB@$B* "2$%#%3* L#
J%@&BC"*VL%3"#*1%N&(BC"@*1B#LB(1%#$%*PB@$B*P"1"E%#'NB3)*J"@$%3'"31%#$%
MB3B*%(*$3B$B1'%#$" 7987Mk ]g`*E*C% ScB3E'#'#B*D _`5*E*C%*B&%'$%*C%
PB@$B*P"1"E%#'NB3.
&LB( @% BC'&'"#K B(* &"#&%#$3BC"* C%(* CFB* Gg.`* nEI* D* 1%N&(K* %#* V"31B* 1B#LB(
R'EL3B*^.*!-$"C"*C%*L($3B@"#"E3BVFB *$3B#@3%&$B(. Q'Y"(%@ G455^I.
6.`*1XN*GR'EL3B ^I.
31
@%*L$'('NK*L#*L($3B@"#'C"*?"#"0%$*`55*&"#*@"#CB*JB3B*L$'('NB&'K#*0FB*3%&$B(*C%
MB3B*%(*C'BE#K@$'&"*C%*(B*$B@B*"0L(B$"3'B*D*%(*C'BE#K@$'&"*C%*E%@$B&'K#)
"0%AB@*JB3'CB@*C%#$3"*C%*&BCB*$3B$B1'%#$".
_.b.` M3"('V'&'CBCk* /L1%3"* C%* &"3C%3"@* #B&'C"@* %# $3%* %(* #f1%3"* C%
$3B$B1'%#$".
E%@$B#$%@* %#$3%* %(* #f1%3"* C%* "0%AB@* @%30'CB@* J"3* ("@* @%1%#$B(%@* C%(
_.b._ M"3&%#$BA%* C%* J3%Y%N k* /f1%3"* C%* "0%AB@* C'BE#"@$'&BCB@
C'BE#K@$'&BCB@.
L($3B@"#"#"E3BVFB* %#* &BCB* $3B$B1'%#$"* %#$3% %( #f1%3"* C%* "0%AB@
_.b.^ +B@B* "0L(B$"3'Bk* +"$B(* C%* &L%3J"@* (f$%"@* C%$%&$BC"@* J"3
P"3B@*C%@JL-@.
C"@*@%30'&'"@)*J"3*1"#$B*#B$L3B()*B(*1"1%#$"*C%*(B*C%$%&&'K#*C%(*%@$3"*D*]4
l ;33"3*%,J%3'1%#$B(*'c-@'1"*$3B$B1'%#$"*%#*(B*Ac-@'1B*3%J%$'&'K#
εijk
εijk = N (0, δ 2 )
32
l ;V%&$"*C% (B %$BJB n.
Ek
C%*(B*nc-@'1B*%$BJB.
l ;V%&$"*C%(*$3B$B1'%#$"*'.
Ti
μ ***l*!%C'B*E%#%3B(
-@'1" $3B$B1'%#$")*'c-@'1B*%$BJB.
Yijk l*QB3'B2(%*3%@JL%@$B)*$'%1J"*C%*3%@JL%@$B*%#*A c-@'1B*3%J%$'&'K#)*'c
:"#C%k
j = 1,2,3...r
k = 1,2,3...e
i = 1,2,3....t
Yijk = + T i + E j + (TE )ij + εijk
1"C%("*L$'('NBC"*VL%*%(*@'EL'%#$%k
J3"&%C'1'%#$"*C% 7#U('@'@*C%*?"23%0'0%#&'B*C% uBJ(B#c!%'%3*G?M??)*4554I. ;(
$'%1J"* C%* 3%@JL%@$B* @%* 3%B('NK &"#* %(* J3"E3B1B* ?M??* 0%3@'K#* ]].`.5* &"#* %(
&B$%EK3'&B@)*C%(*?7?*0%3@'K#*g.5*G?7?)*]hhhI. SB*&L30B*C%*J3"2B2'('CBC*JB3B
&"#$'#LB* $'%1J"* C%* 3%@JL%@$Bq* <7+!>:* D* S>8=?+=<* JB3B* (B@* 0B3'B2(%@ C%
B#U('@'@*C%*("@*CB$"@*@%*3%B('NK*&"#*("@*J3"&%C'1'%#$"@ *8S!*JB3B*(B*0B3'B2(%
?%* L$'('NK* L#* C'@%Y"* &"1J(%$B1%#$%* B(* BNB3* &"#* `* $3B$B1'%#$"@.* ;(
D9O ),%&6,"&*+#%(*+./,
Q 9;?OS+7:>?*H*:=?<O?=\/
]6
]b
]`
798
7987M
7M
g
]4
]5
]4
4
;#*%@$3"
b].]g*x _.^_2
``.6^*x b.bb2
`h.65 x _.6g2
^].g5 x 4.gbB
g6.55*x*]].55&
+'%1J"
C%*9%@JL%@$B
GPI
!*x ;;
#69* G455`I #"* PB((B3"#* C'V%3%#&'B@
34
%# "0%AB@* $3B$BCB@* &"#* %@J"#AB@
"2$%#'%#C" C'V%3%#&'B@*%#*("@*$'%1J"@ C%*3%@JL%@$B. ?'#*%12B3E")*u"P#" &+
B#%@$3"* D* &"#* %V%&$"* 1B&P")* $3%@ $'J"@* C% C'@J"@'$'0"@* '#$3B0BE'#B(%@
@'1'(B3%@.*MB3B*%(*$3B$B1'%#$"*M!?8 )*='CB &+"#69*G455_I*L$'('NB3"#*%#*-J"&B*C%
S"@* $'%1J"@* C%* 3%@JL%@$B %#&"#$3BC"@* J"3* "$3"@* BL$"3%@ #"* @"#
1BD"3*$'%1J"*C%*3%@JL%@$B.
C"#C% %(*$3B$B1'%#$" M VL% C'V%3%#$% GJp5.5`I B*$"C"@*("@*$3B$B1'%#$"@*&"#*%(
&"# M!?8* @'%#C" C'V%3%#$% GJp5.5`I* B* ("@* $3B$B1'%#$"@ M) 798* D* 7987M)
;(*1%#"3*$'%1J"*C%*3%@JL%@$B*@%*"2$L0" %# (B@*"0%AB@*C%(*$3B$B1'%#$"
!*x ;;*l*1%C'B*x %33"3*%@$U#CB3.
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
B)2)&!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJp5.5`I
]`
6
+"$B(
M!?8
M
+3B$B1'%#$"
>0%AB@
<LBC3" g. /f1%3" C%*"0%AB@ D @L $'%1J"*C%*3%@JL%@$B*B*%@$3"*@%Ef#
$3B$B1'%#$".
gI.
%#&"#$3U#C"@% C'V%3%#&'B@*@'E#'V'&B$'0B@*GJp5.5`I*%#$3%*$3B$B1'%#$"@*G<LBC3"
(B* C%$%&&'K#* C%(* %@$3"* @%* &"#@'C%3 K* &"1"* %(* $'%1J"* C%* 3%@JL%@$B)
;( '#$%30B("*%#$3%*%(*3%$'3"*C% (B*%@J"#AB*'#$3B0BE'#B(*D*%(*1"1%#$"*C%
H98 S.&51,"%&"'&*12&*+#
3%$'3B3*%(*C'@J"@'$'0" G^^.^x^.]*PI.
35
@'1'(B3%@* "2$L0'%3"#* u3'C(' &+" #69* G455bI* BJ('&B#C"* (B* M!?8* B(* 1"1%#$"* C%
(B@ %@J"#AB@*&"#*7R8)*&"# 3%@JL%@$B*%@$3B(*%#$3%*^6.4` x `._h*P. 9%@L($BC"@
3%J"3$BC"@* J"3* ?B(BNB3* G455]I* ZL'%#* BJ('&"* M!?8* C"@* CFB@* B#$%@* C%* 3%$'3B3
%@$3B(*B*(B@*^^.4h x ]].56*P G<LBC3" hI. ;@$"@*0B("3%@*@"#*@'1'(B3%@*&"#*("@
SB@*"0%AB@*BCL($B@*C%(*$3B$B1'%#$"*M!?8*J3%@%#$B3"#*&"1J"3$B1' %#$"
1%C3",'J3"E%@$%3"#B.
L$'('NB3 @K("* %(* C'@J"@'$'0"* '#$3B0BE'#B(* GC'V%3%#$%* B* (B* %@J"#AB* &"#* 7R8I * &"#
M!?8.* :"EB# D* /L3 G455bI* 3%J"3$B3"# L#* 1%#"3* $'%1J"* C%* 3%@JL%@$B* B(
G@LJ(%1%#$B&'K#I*&"#*`_.5xb.`*P*D*&"#*1%C3",'J3"E%@$%3"#B*1 U@*`55*O=*C%
C%*3%@JL%@$B*B(*%@$3" G_h.^x^.]*PI*C'V%3%#$%@ GJp5.55]I*B(*$3B$B1'%#$" $%@$'E"
&"#*B&%$B$"*C%*V(L"3"E%@$"#B*u3'C(' &+"#69*G455bI*3%J"3$B3"#*@'1'(B3%@*$'%1J"@
B(*1"1%#$"*C%*3%1"0%3*(B@ %@J"#AB@. 7(*L$'('NB3 @K(" (B %@J"#AB*'1J3%E#BCB
L$'('NB#C" ^5*1E*C%*B&%$B$"*C%*V(L"3"E%@$"#B 1B@*4`5*O= "*`55*O= C%*M!?8
WB32B@ &+" #69 G4554I B(* &"1JB3B3* C'V%3%#$%@* C"@'@* C%* E"#BC"$3"J'#B@)
S"@*3%@L($BC"@*C%(*J3%@%#$%*$3B2BA"*@"# @'1'(B3%@ B*("@ 3%J"3$BC"@*J"3
C'@J"@'$'0"@ '#$3B0BE'#B(%@.
<"3'K#'&B*;ZL'#B*G%<8*J"3*@L@*@'E(B@*%#*'#E(%@I*4_*P"3B@*B#$%@*C%*3%$'3B3*("@
'1J3%E#BCB@*C%*J3"E%@$%3"#B*D*`55*O=*0FB*'#$3B1L@&L(B3*C%*8"#BC"$3"J'#B
]b
]`
7987M
7M
`6.g x b.`2 G]5I
b4._ x _.g2 G6I
^^.^ x ^.hB *GgI
`h.6 x _.g2 G]5I
g6.55 x ]].55& *G4I
7CL($B@
!*x ;; G#I
*v
_`.`5 x*^5.`% G4I
`4.6 x 55.55% G]I
4g.g*x ^.6C *G_I
c
G5I
c
Mf2%3%@
!*x ;; G#I
;,'@$%#*C'0%3@"@*VB&$"3%@*ZL%*JL%C%#*'#V(L'3 %# %(*'#'&'"*C%(*%@$3"*"*%(
36
"0%AB@I)*3BNB)*&"c$3B$B1'%#$"@)*1B#%A"*D*@'@$%1B*C%*%1JBC3%*Gs'(C%L@) ]hhhI.
C%* @'#&3"#'NB&'K#* &"#* %@J"#AB@* JL%C%#* 0B3'B3* C%2'C"* B* (B* %@J%&'%* G&B23B@)
SB@*C'V%3%#&'B@*%#*3%@JL%@$B*B (*%@$3"*D (B V%3$'('CBC &"# ("@*$3B$B1'%#$"@
=#@n%%J)*455bI.
'#V(LD%# %# %(* &"1J"3$B1'%#$"* 3%J3"CL&$'0"* C%* (B@* "0%AB@ * G8""C1B# %
B('1%#$'&'B.* ;(* V"$"J%3'"C")* ("@* %0%#$"@* %@$3%@B#$%@* D* (B* '#$%3B&&'K#* @"&'B(
&"#$3B@$%*&"#*(B@*J3%Jf2%3%@)*@"#*1B3&BCB1%#$%*3%@'@$%#$%@*B*(B*3%@$3'&&'K#
$'%1J"* C%* 3%@JL%@$B)* @'# %12B3E")* JB3B* %(* &B@"* C%* (B@* "0%AB@* BCL($B@* %#
;(* $'J"* D* C"@'@* C%* P"31"#B@* L$'('NBCB@* D* (B #L$3'&'K#* '#V(LD%# %# %(
#69)*455_q u"P#" &+"#69)*455`I.
BJ('&BCB*C%*E"#BC"$3"J'#B*&"3'K#'&B*%ZL'#B*G%<8 q 9P"C%@ &+"#69)*]hhgq ='CB &+
%(* 1"1%#$"* C%* (B* '#@%3&'K#* B(* 3%$'3"* C%(* C'@J"@'$'0"* "* (B* %@J"#AB* D* (B* C"@'@
%@$U*%(*&"%V'&'%#$%*C%*B2@"3&'K#*C%*J3"E%@$%3"#B*J"3*%(*%J'$%('"*0BE'#B()*C%@C%
$'%1J"*C%*3%@JL%@$B*C%@JL-@*C%*L#*$3B$B1'%#$"*C%*@'#&3"#'NB&'K#)*%#$3%*%(("@
C)%
B)2)&
!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*GJ…5.5`I.
!%C'B@*&"# C'@$'#$B ('$%3B( @"#*GJ…5.5`I.
v*/"*'#&(LDK*"0%AB@*Jf2%3%@)
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
]`
]6
6
M
M!?8
798
#
+3B$B1'%#$"
<LBC3" h. /f1%3" C%*"0%AB@*BCL($B@*D*Jf2%3%@*C%$%&$BCB@*%#*%@$3"*D*@L
$'%1J"*C%*3%@JL%@$B J"3*$3B$B1'%#$".
0
7M
20
M!?8
60
7987M
Tiempo de respuesta
40
798
M
80
100
R'EL3B*_.*<L30B*C%*$'%1J"*C%*3%@JL%@$B*J"3*$3B$B1'%#$".
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
0.0
.2
.4
.6
.8
1.0
E"#BC"$3"J'#B@*GM!?8q R'EL3B _I.
37
0BE'#B(%@* '1J3%E#BCB@* C%* B&%$B$"* C%* V(L"3"E%@$"#B* D* _55* O=* C%
BJ3",'1BCB1%#$%* 5.g5)* @%1%AB#$% B(* $3B$B1'%#$"* &"1%3&'B(* &"#* %@J"#AB@
B&%'$%* C%* J%@&BC")* J3%@%#$%#* %@$3"* C%#$3"* C%* ("@* J3'1%3"@* $3%@* CFB@* %@ C%
$3B$BCB@* &"#* B&%$B$"* C%* V(L"3"E%@$"#B* D* @LJ(%1%#$BCB@* &"# ScB3E'#'#B* "
$'%1J"* J"@$%3'"3* B(* 3%$'3"* C% (B %@J"#AB.* SB* J3"2B2'('CBC* C%* ZL%* (B@* "0%AB@
SB* J3"2B2'('CBC* * C%* 3%@JL%@$B* B (* %@$3"* C'@1'#LD%* B(* '#&3%1%#$B3 %(
'#&"#@'@$%#$%*%#$3%*3BNB@ Gs%22 &+"#6.)*]hhgI.
B@"&'BCB*B*(B@*&"#&%#$3B&'"#%@*"2@%30BCB@*C%*R?X*J%3"*%@*L#B &B3B&$%3F@$'&B
+B12'-#* %,'@$%#* 1B3&BCB@* C'V%3%#&'B@* E%#-$'&B@* %#* (B* $B@B* "0L(B$"3'B
Probabilidad
5
4
7987M
7M
5
5
g
5
5
4_
]
5
4
4
5
^b
_
`
4
_
5
_g
`
^
5
_
]
64
5
5
5
5
]
hb
]4e]`*Gg5.5I2
ge]b*G`5.5I&
]4e]`*Gg5.5I2
]5e]6*G`h.5I&
4e 6*G4g.bIB
+"$B(*GoI
38
7R8* D L#* B#U("E"* C% M8R4{ GJ3"@$BE(B#C'#B@I B(* 1"1%#$"* C%* 3%$'3B3* (B@
].g*P*L$'('NB#C" ^5*1E 6*CFB@c]*C% 7R8*D*_b.^ x ].g*P &"# ^5*1E ]4*CFB@c]*C%
C'V%3%#$%*B*("@*3%J"3$BC"@*J"3*7$B1B# &+"#6. G455bI*ZL'%#%@ "2@%30B3"#*__.` x
P* J"@$%3'"3* B(* 3%$'3"* C%* (B@ %@J"#AB@) "2$%#'C"* &"#* %(* $3B$B1'%#$"* M!?8 %@
;(*J"3&%#$BA%*C%*"0%AB@*&"#*1B#'V%@$B&'"#%@*C%*%@$3"*B*'#$%30B("@*C%*]4
C'@$'#$B*@"#*C'V%3%#$%@*GJ…5.5`I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3 ;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
5
5
M!?8
798
B)2)&!%C'B@*&"#
5
]4
X"3B@*J"@$%3'"3*B(*3%$'3"*C% (B %@J"#AB
M
+3B$B1'%#$"
<LBC3" ]5.*/f1%3"*C%*"0%AB@ %#*%@$3"*C%*B&L%3C"*B(*$'%1J"*C%*C'BE#K@$'&"*D
J"3&%#$BA%*$"$B(*C%*%@$3"@*J"3*$3B$B1'%#$".
%#$3%*4`c_g)*`5 o*%#$3%*_hc64*P*D*%(*3%@$"*#"*%,P'2'K %@$3".
%@J"#AB@* "2@%30B3"#* G#l4^I* 4` o C% "0%AB@* %#* &%("* %#$3%* 5c4_* P)* 45.g o
#6.) G]hhhI* B(* L$'('NB3* 7R8* * ^5 1Ee]_* CFB@* 1B@* _b5* O=* M!?8* B(* 3%$'3B3
Ghe]`I*1B#'V%@$B3"#*%@$3"*%#$3%*_gc64*P*D*%(*45*o*#"*1B#'V%@$K. <K3C"2B &+
%#* %(* J3'1%3* J%3'"C"* C%* C'BE#K@$'&"* G]4* PI)* b o G]e]`I* B* (B@* ^b* P) %(* b5 o
`5 o*#" 3%@J"#C'K.*<"#*%(*$3B$B1'%#$"*7M*%(*]^ o*G4e]`I*J3%@%#$B3"#*%@$3"
<"#*%(*$3B$B1'%#$"*7987M*%(*`5 o Gge]bI*J3%@%#$B3"#*%@$3"*%#$3%*_gc64*P)*%(
4_ o*G_e]6I*%#$3%*_hc64*P*D*%(*_] o G6e]6I*#"*%,P'2'%3"#*@F#$"1B@*C%*%@$3".
&%(".*MB3B*%(*$3B$B1'%#$"*798*%(*^` o*Gbe]6I*J3%@%#$B3"#*&%("*%#$3%*^bc_g*P)
%@$3"*%#$3%*4_j^`*P)*46 o*G_e]`I*%#$3%*^bc_g*P*D*45 o*G^e]`I*#"*J3%@%#$B3"#
<LBC3" ]5.*<"#*%(*$3B$B1'%#$" M!?8*%(*`^ o*Gge]`I*C%*(B@*"0%AB@*1"@$3B3"#
SB@*V3%&L%#&'B@*C%*%@$3"*J"3*J%3'"C"@*C%*C'BE#K@$'&"*@%*J3%@%#$B#*%#*%(
]`
7M
g5.5*x*]].5*G]4I&
`g.g*x*]4.5*G]5I2
`5.5*x*]^.5 GgI2
g5.5*x*]].5*G]4I&
4g.b*x*]g.5 *G4IB
M"3&%#$BA%
C%*%@$3"
! x*;; G#I
45.5*G^I
_].4*G6I
`5.5*GgI
45.5*G^I
6]._*G`I
/" ;@$3"
o G#I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
('$%3B(*@"#*C'V%3%#$%@*GJ…5.5`I
]6
]b
798
7987M
B)2)&!%C'B@*&"#*C'@$'#$B
]`
6
/L1%3"
>0%AB@
M!?8
M
+3B$B1'%#$"
9%@JL%@$B
<LBC3"*]]. /f1%3"*C% "0%AB@*D*J"3&%#$BA%*C% %@$3"@*C%$%&$BC"@*J"3
$3B$B1'%#$".
(B*'#$%3B&&'K#*@"&'B(.
39
J"3&%#$BA%)*J"@'2(%1%#$%*J"3*$3B$B3@%*C%*"0%AB@ ZL%*3%@J"#C'%3"#*B(*%V%&$"*C%
VL%3"#* 1%#"3%@. SB@* P%123B@* C%(* $3B$B1'%#$" M 1"@$3B3"#* %(* 1%#"3
D*7M*Gg5*oI*D &"# (B@ "0%AB@*C% ("@*$3B$B1'%#$"@*798*D*7987M) ("@*3%@L($BC"@
'#&'C%#&'B*C%*%@$3"@*@%*J3%@%#$K*%#*(B@*"0%AB@*C%*("@*$3B$B1'%#$"@*&"#*M!?8
%@$3"@*C%*(B@*"0%AB@ %#$3%*$3B$B1'%#$"@*G<LBC3"*]]I)*%(*J"3&%#$BA%*1U@*B($"*C%
?% %#&"#$3B3"#*C'V%3%#&'B@*@'E#'V'&B$'0B@*GJp5.5`I JB3B*%(*J"3&%#$BA%*C%
H9> J,'/&$+#@&"%&"&*+',*
%@*1%#"3*G8"#NU(%@cWL(#%@ &+"#6.)*455`I.
1B@*C%(*h5 o*C%*1B#'V%@$B&'"#%@*C%*%@$3"*J%3"*(B*V%3$'('CBC B(*J3'1%3*@%30'&'"
gb.b*D*6b.ho)*3%@J%&$'0B1%#$%.*;(*L@"*C% B#U("E"@*C% M8R4{*J%31'$%*"2$%#%3
%@J"#AB@)*("E3B#C"*L#*]55 o*C%*"0%AB@*%#*%@$3"*D*L#B*$B@B*C%*E%@$B&'K#*C%(
40
7987M. ;( M;* %#$3%* "0%AB@* Jf2%3%@* C%* ("@* $3B$B1'%#$"@* M!?8* D* 7M VL%
7M %#*"0%AB@*BCL($B@*%(*M; VL%*@LJ%3'"3*&"#*3%@J%&$"*B ("@*$3B$B1'%#$"@ M*D
%@$3"@ %#$3% "0%AB@*BCL($B@*G<LBC3"*]4I. <"#*("@*$3B$B1'%#$"@*M!?8)*798*D
?%* %#&"#$3B3"#* C'V%3%#&'B@* @'E#'V'&B$'0B@* GJ p5.5`I* %#* %(* J"3&%#$BA%* C%
GSKJ%Nc?%2B@$'U# &+"#6.)*455]I.
%12B3E")* %(* F#C'&%* C%* "0L(B&'K#* %@* @'%1J3%* '#V%3'"3* ZL%* %#* "0%AB@* BCL($B@
E"#BC"$3"J'#B@*1%A"3*B*(B@*]_*@%1B#B@*C%*%CBC*ZL%*B*(B@*]5*@%1B#B@)*@'#
"0%AB@*$3B$BCB@.*SB@*"0%AB@*J3%Jf2%3%@*JL%C%#*3%@J"#C%3*B*$3B$B1'%#$"@*&"#
"2$%#'C"* J"3* 1B#'JL(B&'K#* C%(* &'&("* %@$3B()* %@* (B* 1BCL3%@* @%,LB(* C%* (B@
O#"* C%* ("@* VB&$"3%@* '#$3F#@%&"@* ZL%* '#V(LD% %#* %(* J"3&%#$BA%* C%* %@$3"@
J3"E%@$%3"#B.
(L$%"('@'@*D %#*&"#@%&L%#&'B*L#B*C'@1'#L&'K# %#*("@*#'0%(%@*J(B@1U$'&"@*C%
%@J"#AB@. SB@*M8R4{*BJ('&BCB@*B(*1"1%#$"*C%*3%$'3B3*(B@*%@J"#AB@*J3"0"&B#
V(L"3"E%@$"#B*J"3*6*D*]4*CFB@*1U@ M!?8*D M8R4{*B(*1"1%#$"*C%*3%1"0%3*(B@
%#* "0%AB@* %#* -J"&B* 3%J3"CL&$'0B* $3B$BCB@* &"# ^5 1E C%* B&%$B$"* C%
("@*3%J"3$BC"@*J"3*7$B1B# &+"#6. G455bI*ZL'%#%@*3%E'@$3B3"#*]55 o*C%*%@$3"@
E%#%3B(*2BA"@)*@'#*&"#@'C%3B3*(B*3%@JL%@$B*C%*(B@*"0%AB@*BCL($B@ . :'V'%3%#*C%
S"@*J"3&%#$BA%@*C%*%@$3"*%#$3%*$3B$B1'%#$"@*C%(*J3%@%#$%*$3B2BA"*@"#*%#
VU31B&".
((%EB3*B*$"3#B3@%*'#1L#"3%B&$'0B@*C'@1'#LD%#C"*(B*%V'&'%#&'B*C%*(B*C"@'@*C%(
C%2%* &"#@'C%3B3* ZL%* (B@* "0%AB@* $3B$BCB@* 3%'$%3BC B1%#$%* &"#* M!?8)* JL%C%#
C'V%3%#&'B@* &"#* 3%@J%&$" B(* $3B$B1'%#$" 7R8* 1U@* M!?8.* ?'#* %12B3E")* @%
JB3%&%* #"* @%3* L#* 1-$"C"* %V'&'%#$%* JB3B* (B '#CL&&'K#* C% %@$3"@ J"3 (B@
C%* 7R8* &"12'#BC"* &"#* @LJ(%1%#$B&'K#* C% ScB3E'#'#B* D* B&%'$%* C%* J%@&BC"
&"#@'C%3B3*(B@*'#$%3B&&'"#%@*V'@'"(KE'&B@) 1%$B2K('&B@*D*#L$3'&'"#B(%@.*;(*L@"
JB3B* (B* @'#&3"#'NB&'K#* C%(* &'&("* %@$3B(* 3%V(%AB* (B* %V'&B&'B * JB3&'B(* C% %@$%)* @'#
;(* #f1%3"* C%* "0%AB@* %#* &%("* B(* L$'('NB3* L#* $3B$B1'%#$"* VB31B&"(KE'&"
_
g
`5.5 x*4h.5 *G4I%
]4.` x*5.5 *G]IC
G5I
`6.] x*45.4 *G_I%
h5.h x*h.5*G]5I&
g6.` x*]4.` *G6I2
]55.5 x*5.5*G]5I&
]55.5 x*5.5 *GgI&
4g.b x*]g._ G4IB
M"3&%#$BA%
C%*%@$3"
! x*;;
G#I
`5.5 *G4I
g6.` *G6I
]55.5 *G6I
_4.h *G^I
h.] G]I
]4.` G]I
B)2)&
5
5
6]._ *G`I
/"*%@$3"
o G#I
!%C'B@*&"#*C'@$'#$B*('$%3B(*@"# C'V%3%#$%@*GJ…5.5`I
C)% !%C'B@*&"#*C'@$'#$B*('$%3B(*@"# C'V%3%#$%@*GJ…5.5`I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$" C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M
7987M
6
798
]]
g
]5
6
Mf2%3%@
7CL($B@
M!?8
7M
7987M
798
g
M!?8
/f1%3"
C%*>0%AB@
6
;$BJB
M
+3B$B1'%#$"
9%@JL%@$B
<LBC3" ]4. /f1%3"*D*J"3&%#$BA%*C%*"0%AB@*BCL($B@*D*Jf2%3%@*C%$%&$BCB@*%#
%@$3" J"3*$3B$B1'%#$".
$3B$B1'%#$"@*798*D*7987M.
41
@LJ%3'"3 GJp5.5`I* B* ("@* "2@%30BC"@* %#* "0%AB@* C%* (B* 1'@1B* %$BJB* C% * ("@
]6
]b
]`
798
7987M
7M
]4.`*G4I
b.6*G]I
]].g*G4I
]^.^*G4I
4g.b*G4I
<%3"
o G#I
^].^*G`I
_b.6*G6I
_6.]*GgI
_b.6*G6I
_4.h*G^I
O#"
o G#I
`b.^*GhI
_b.6*G6I
_].4*G6I
_5.5*GbI
4g.b*G4I
:"@
o G#I
/f1%3"*C%*&L%3J"@*(f$%"@
].b_ x 5.`52
]._^ x 5.]_B
]._6 x 5.]^B
]._b x 5.]_B
]._5 x 5.4`B
+B@B*>0L(B$"3'B
! x*;;
42
$3B$B1'%#$"@*G<LBC3"*]_I. /"*@%*PB((B3"#*C'V%3%#&'B@*%#*(B*$B@B*"0L(B$"3'B*C%
SB* $B@B* "0L(B$"3'B* %#$3%* "0%AB@* Jf2%3%@ VL%* C'V%3%#$%* GJp5.5`I* %#$3%
"0%AB@*B('1%#$BCB@ @K(" &"#*P%#"*G].4h*x*5._`I.
G455^I &"#*"0%AB@ @LJ(%1%#$BCB@*&"# SLJ'#L@*G].bh*x*5._bI*&"1JB3BCB@*&"#
JB3B*"0%AB@*BCL($B@*%@*@'1'(B3*B*(B*"2$%#'CB*J"3*u"@'"3 cu"3N%&nB*D*W"2"t'%&
3%@J%&$"*B*(B@*"0%AB@*BCL($B@*C% M!?8*D*B(*$3B$B1'%#$" M. SB*$B@B*"0L(B$"3'B
#"* 1"@$3B3"#* C'V%3%#&'B@* %# +>)* ("@* &LB(%@* VL%3"#* C'V%3%#$%@ GJp5.5`I* &"#
$3B$B1'%#$"@*G<LBC3"*]_I.*SB@*"0%AB@*C%*("@*$3B$B1'%#$"@*798)*7987M*D*7M
SB* $B@B* "0L(B$"3'B* JB3B* "0%AB@* BCL($B@* VL%* C'V%3%#$% * GJp5.5`I* %#$3%
!%C'B@*&"# C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJ…5.5`I
!*x*;;*l*1%C'B*x*%33"3*%@$U#CB3.
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
]`
6
M!?8
M
+3B$B1'%#$"
/f1%3"
*C%
>0%AB@
<LBC3"* ]^. /f1%3"* C%* "0%AB@* C%* B&L%3C"* B * (B* &B#$'CBC C%* &L%3J"@* (f$%"@
C%$%&$BC"@*J"3*L($3B@"#"E3BVFB*D*$B@B*"0L(B$"3'B *J"3*$3B$B1'%#$".
"$3"@*$3B$B1'%#$"@. G<LBC3"*]^I.
G+>I* %#* (B@* "0%AB@* C%(* $3B$B1'%#$"* 7987M* &"#* 3%@J%&$"* B* (B@* "0%AB@* C%* ("@
?%*%#&"#$3B3"#*C'V%3%#&'B@*@'E#'V'&B$'0B@ GJp5.5`I JB3B*$B@B "0L(B$"3'B
H9A S#*#"T726#+,'.#
_
g
4`.5*G]I
4`.5*G4I
4g.b*G4I
4g.b*G4I
5.5
5.5
5.5
5.5
4g.b*G4I
<%3"
o*G#I
6`.5*G^I
`5.5*G_I
6]._*G`I
_4.h*G^I
^b._*G_I
]4.`*G]I
^5.5*G^I
`5.5*G_I
_4.h*G^I
O#"
o*G#I
5.5
4`.5*G4I
5.5
4g.b*G4I
b^.b*G6I
g6.`*G6I
65.5*G6I
`5.5*G_I
4g.b*G4I
:"@
o*G#I
/f1%3"*C%*&L%3J"@*(f$%"@
].55 x 5.55&
].^^ x 5.4]C
].55 x*5.55&
]._5 x 5.4`C
].b^ x 5.]b2
].g6 x 5.]^2
].65 x 5.]^2
].`5 x 5.]hB
]._5 x 5.4`B
+B@B
>0L(B$"3'B
! x*;;
%#*B#%@$3"*G!BL3%( &+"#6.)*455^I.
43
"0L(B$"3'B)*V%3$'('CBC*D*(B*@'#&3"#'NB&'K#*C%*(B*"0L(B&'K#*%#*"0%AB@*&'&(B#C"*D
&"1"* (B* M!?8* %@$'1L(B* %(* &3%&'1'%#$"* V"('&L(B3* %* '#&3%1%#$B* (B* $B@B
J3"('V'&'CBC* C%(* 3%2BY"* GQ'Y"(%@)* 455^I.* SB* L$'('NB&'K#* C%* E"#BC"$3"J'#B@
(B* J3"('V'&'CBC* JB3$'&L(B3* C%* (B@* "0%AB@* D* @%3* L# '#C'&BC"3* E%#%3B( C%* (B
CFB*g*B*]]*C%@JL-@*C%*(B*J3%@%#$B&'K#*C%(*%@$3"*JL%C%*L$'('NB3@%*JB3B*'#V%3'3
;(*#f1%3"*C%*&L%3J"@*(f$%"@*("&B('NBC"@*J"3*L($3B@"#"E3BVFB**%#$3% ("@
v*+3B$B1'%#$" M*@'# "0%AB@*Jf2%3%@.
B)2 !%C'B@ &"# C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJp5.5`I
&)C!%C'B@ &"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJp5.5`I
!*x*;;*l*1%C'B*x*%33"3*%@$U#CB3.
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C% B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M
7987M
6
798
Mf2%3%@
6
]]
g
]5
M!?8
7M
7987M
7CL($B@
g
M!?8
798
6
;$BJB
Mv
+3B$B1'%#$"
/f1%3"
C%
>0%AB@
<LBC3"* ]_.* /f1%3"* C%* "0%AB@* BCL($B@* D* Jf2%3%@* C%* B&L%3C"* B(* #f1%3"* C%
&L%3J"@* (f$%"@* C%$%&$BC"@* J"3* L($3B@"#"E3BVFB* D* $B@B* "0L(B$"3'B
J"3*$3B$B1'%#$"*D*%$BJB.
%(*#f1%3"*C%*V"(F&L("@*"0L(B$"3'"@*G9"2'#@"# &+"#6)*455bI.
&"#@'C%3B3*ZL%*(B*@L2#L$3'&'K#*%#*"0%AB@*b*1%@%@*B#$%@*C%*(B*1"#$B*3%CL&%
'#V%3'"3*J3%@%#$B3"#*(B@*"0%AB@*Jf2%3%@*C%*("@*$3B$B1'%#$"@*79 8*D*7M. ;@*C%
(B@ "0%AB@*Jf2%3%@*C%*("@*$3B$B1'%#$"@*M!?8 D*7987M*D*L#B*$B@B*"0L(B$"3'B
&"1JB3B&'K#* C%* $3B$B1'%#$"@* &"#* %@J"#AB@* '#$3B0BE'#B(%@
%@$BCF@$'&B@
@'E#'V'&B$'0B@* GJp5.5`I* %#$3%
@%*"2$L0"*%#*%(*$3B$B1'%#$" @K("*&"#*J3"E%@$%3"#B.
44
GJp5.5`I*&"#*3%@J%&$"*B*("@*$3B$B1'%#$"@*798*D*7987M *D*%(*J"3&%#$BA%*1%#"3
@%* "2$L0"* &"#* ("@* $3B$B1'%#$"@ * M!?8* D* 7M) ("@* &LB(%@* VL%3"#* C'V%3%#$%@
$3B$B1'%#$"@* JB3B* E%@$B&'K#* G<LBC3"* ]`I. ;(* 1BD"3* J"3&%#$BA%* C%* E%@$B&'K#
?%* PB((B3"#* C'V%3%#&'B@
H9D J,'/&$+#@&"%&"F&*+#/.3$
]hh6I
"0L(B$"3'B &"#* L#B* 1%C'B* C% ].4`* &L%3J"@* (L$%"@* J"3* "0%AB* G=E(%@'B@ &+" #6.)
3%J3"CL&$'0B*%#*"0%AB@*C%*(B#B) C%1"@$3K*ZL%*#"*PBD*C'V%3%#&'B@*%#*(B*$B@B
&"#$%#'%#C"* ]`)* ^5)* _`* D* b5* 1E* C%* !7M* L$'('NBCB@* CL3B#$%* (B* %@$B&'K#
O#B
#"*3%&'2'%3"#*C'&PB*@LJ(%1%#$B&'K#*G]].4g x ].]4 7**g.g5 x 5.h^I.
VL%*1BD"3*%# (B@*"0%AB@*@LJ(%1%#$BCB@*&"#*B&%'$%*C%*1BFN ZL%*BZL%((B@*ZL%
]hgbI.* X%33%3B &+" #6)* G455^I* 3%J"3$B3"#* ZL%* (B* J"2(B&'K#* 1%C'B* C%* V"(F&L("@
C%(* 45c^5 o* %#* (B* V3%&L%#&'B* C%* "0L(B&'"#%@* 1f($'J(%@* G?$%tB3$* D* >(CPB1)
E3B#"*C% SLJ'#L@*CL3B#$%*("@*f($'1"@*&LB$3"*CFB@ JL%C%*'#CL&'3*L#*BL1%#$"
#L$3'&'K#*@"23%*(B*V'@'"("EFB*3%J3"CL&$'0B.*M"3*%A%1J(")*(B*@LJ(%1%#$B&'K#*&"#
&"1J"3$B1'%#$"*3%J3"CL&$'0"*PB*@'C"*C%*'#$%3-@*J"3*%(*'1JB&$"*ZL%*%A%3&%*(B
SB*@LJ(%1%#$B&'K#*%#*"0%AB@*&"#*%(*"2A%$'0"*C%*PB&%3*1U@*%V'&'%#$%*@L
]b
]`
7987M
7M
6^.^*x*]4.5 G]]I&
_^.g*x*]^.5 *G6I2
6^.^*x*]4.5 *G]]I&
_6.]*x*]^.5 *G6I2
4g.b*x*]g.5 *G4IB
M"3&%#$BA%*C%
E%@$B&'K#
! x*;;
G#I
4b.6 *G_I
`b.^ *GhI
4b.6 *G_I
`4.h *G]5I
6]._ *G`I
/"*o
G#I
o* C%* "0%AB@* E%@$B#$%@* JB3B* C"@* $'J"@* C%
O#B* 1%A"3
45
%V'&'%#&'B*3%J3"CL&$'0B*@%*("E3B &"#*L#*C'BE#K@$'&"*C%*E%@$B&'K#*$%1J3 B#")*B(
3%J3"CL&&'K#)* @%B* J"3 1"#$B #B$L3B(* "* '#@%1'#B&'K#* B3$'V'&'B(.
3%V(%AB* (B* V%3$'('CBC* E%#%3B(* C%(* 3%2BY"* D* (B* %V'&'%#&'B* C%* (B@* $-&#'&B@* C%
;(*#f1%3"*C%*"0%AB@*E%@$B#$%@*C%( $"$B(*C%*"0%AB@*%,JL%@$B*B*%1JBC3%)
C'@J"@'$'0"@.
B#U("E"* C%* M8R4{* * D* _55* O=* C%* M!?8* B12"@* B(* 1"1%#$"* C%* 3%1"0%3* ("@
L$'('NB#C" ^5* 1E CFBc]* CL3B#$%* ]4* D* 6* CFB@* C% 7R8* 1U@* 5.4h_* 1E* C%* L#
$3B$B1'%#$"@* G(B3E"* D* &"3$"* &"#* J3"E%@$UE%#"@I)* %#* (B* %@$B&'K#* 3%J3"CL&$'0B)
ZL'%#%@* 3%J"3$B3"#* gb.b
%@$"@* 3%@L($BC"@* @"#* '#V%3'"3%@* B* ("@ %#&"#$3BC"@ J"3* 7$B1B# &+" #6. G455bI
'#$3B0BE'#B(%@)* "2$%#'%#C"* 6b.`* o* D* @K("* &"#* !7M* __._* o. ?'#* %12B3E")
M!?8* 1B@* ]4`* †E* C%* M8R 4{* B(* 1"1%#$"* C%* 3%$'3B3* ("@* C'@J"@'$'0"@
1%C3",'J3"E%@$%3"#B* J"3* ]4* CFB@* G!7M*J"3* @L@* @'E(B@* %#* '#E(%@I)* `55* O=* C%
@"#* @'1'(B3%@* B* ("@ %#&"#$3BC"@* J"3* :"EB# D* /L3 G455bI* L$'('NB#C"
;(* J"3&%#$BA%* C%* E%@$B&'K#* "2$%#'C"* &"#* ("@* $3B$B1'%#$"@* M!?8* D* 7M
!%C'B@ &"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJ…5.5`I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB @*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
]`
]6
6
/f1%3"
C%*"0%AB@
M!?8
798
M
+3B$B1'%#$"
:'BE#K@$'&"*8%@$B&'K#
<LBC3"*]`.*/f1%3"*C% "0%AB@*D*J"3&%#$BA% C%*E%@$B&'K# @%Ef#*$3B$B1'%#$".
_
4`.5*x*4`.5 *G]IC
*G5I
*G5I
_4.h*x*45.4 G^I%
h5.h*x*h.5*G]5I&
g6.`*x*]4.` *G6I2
]55.5 x*5.5 *GgI&
65.5*x*]`.^ *G6I2
4g.b x*]g._ *G4IB
M"3&%#$BA%*C%
E%@$B&'K#
! x*;; G#I
6`.5 *G^I
]55.5 *G6I
]55.5 *GgI
`6.] *G_I
h.] *G]I
]4.` *G]I
G5I
^5.5 *G^I
6]._ *G`I
/"
o G#I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
C)%!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJ…5.5`I
B)2)&!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJ…5.5`I
7M
6
g
798
7987M
]]
g
g
]5
6
/f1%3"
C%*>0%AB@
6
Mf2%3%@
7CL($B@
;$BJB
M!?8
7M
7987M
M!?8
798
M
+3B$B1'%#$"
:'BE#K@$'&"*8%@$B&'K#
<LBC3"*]b.**/f1%3"*D*J"3&%#$BA%*C%*E%@$B&'K# C% "0%AB@*BCL($B@*D*Jf2%3%@
@%Ef#*$3B$B1'%#$".
7987M*D M.
46
"2$L0" &"#*%(*$3B$B1'%#$"*7M*&"#*%(*h5.h o*D*J"3&%#$BA%@*1%#"3%@*&"#*798)
BCL($B@* C%(* $3B$B1'%#$"* M!?8* 3%@L($K* E%@$B#$%) L#* J"3&%#$BA%* @'1'(B3* @%
@'E#'V'&B$'0B1%#$%* GJp5.5`I* C'V%3%#$%* G<LBC3"* ]bI)* %(* ]55 o* C%* (B@* "0%AB@
;(* J"3&%#$BA%* C%* E%@$B&'K#* %# "0%AB@* BCL($B@* %#$3% $3B$B1'%#$"@ VL%
@'1'(B3%@*GSKJ%Nc?%2B@$'U# &+"#6.)*455`I.
3%CL&'3*%(*'#$%30B("*%#$3%*JB3$"@*D*VB0"3%&%3*%(*1B#%A"*C%*(B@*"0%AB@*J"3*("$%@
b5.5 *GbI
^6.` *G^I
g`.6 *GbI
b^.b G6I
`5.5 *G]I
O#"
o G#I
_5.5 G_I
b4.` G`I
]_.^ G]I
^b._ G_I
`5.5 G]I
:"@
o G#I
/f1%3"*C%*&"3C%3"@
].^b x 5.]`2
47
].b^ x*5.]g&
].]_ x 5.]_B
].^b x*5.]`2
].`5 x*5.`5&
M3"('V'&'CBC
! x*;;
!%C'B@*&"#*C'@$'#$B*('$%3B(*@"# C'V%3%#$%@*GJ…5.5`I
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4 CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
]]
g
6
798
7987M
7M
]]
4
M!?8
M
+3B$B1'%#$"
/f1%3"
C%*>0%AB@
<LBC3"*]6. /f1%3"*C%*"0%AB@ E%@$B#$%@ D*J3"('V'&'CBC*@%Ef#*$3B$B1'%#$".
J3"('V'&'CBC*PB((BC"*%#*%(*J3%@%#$%*$3B2BA"*&"#*D*@'#*(B *L$'('NB&'K#*M!?8.
JB3B* B12"@* $3B$B1'%#$"@)* (B* &LB(* @%* %#&L%#$3 B* C%#$3"* C%( '#$%30B("* C%
M!?8* B(* 1"1%#$"* C%* 3%$'3B3* (B@* %@J"#AB@* "2$L0'%3"#* ].__* C%* J3"('V'&'CBC
L$'('NB3* %# "0%AB@* BCL($B@ $3B$BCB@* &"# _5 1E* 7R8* 1U@* 4`5* D* `55* O=* C%
"0%AB* JB3'CB. ?'#* %12B3E")* ("@* CB$"@* 3%J"3$BC"@* J"3* WB32B@ &+" #6.* G4554I B(
%@J"#AB@* "2$L0'%3"#* L#B* J3"('V'&'CBC* C%* ]._ x 5.^ C%* &"3C%3"@* #B&'C"@* J"3
G455bI*ZL'%#%@*L$'('NB#C"*7R8 m b55*O=*C%*M!?8*B(*1"1%#$"*C%*3%1"0%3*(B@
C%* J3"@$BE(B#C'#B@. 9%@L($BC"@* @'1'(B3%@* VL%3"#* "2$%#'C "@* J"3 u3'C(' &+" #6.
C%*V(L"3"E%@$"#B*J"3*6*D*]4*C*D*_55*O=*M!?8*1B@*5.4h_*1E*C%*L#*B#U("E"
%@$B&'K#*3%J3"CL&$'0B*G].6 c ].gI**D*-J"&B*C%*B#%@$3"*G].`I*L$'('NB#C"*B&%$B$"
3%@L($BC"@* C'V'%3%# C%* ("@* 3%J"3$BC"@* J"3* 7$B1B# &+" #6.* G455bI* JB3B* (B
$3B$B1'%#$"@ M* D* 798* J3%@%#$B3"#* (B 1BD"3 J3"('V'&'CBC* GJp5.5`I.* ;@$"@
%#&"#$3B3"#*C'V%3%#&'B@*%#$3%*M!?8*D*7M)*B12"@*&"#*].^b. SB@*"0%AB@*C%*("@
J3%@%#$B#C"* L# '#$%30B("* %#$3%* ].]_ c ].b^* &"3C%3"@* J"3* "0%AB.* /"* @%
SB* J3"('V'&'CBC* %#$3%* $3B$B1'%#$"@* VL% C'V%3%#$%* GJp5.5`q <LBC3"* ]6I
H9H J',6.C./.%#%
&"3C%3"@*J"3*"0%AB*&"# J%@" 1%C'" 1%#"3*B*4_.^*nE.
48
3%J"3$BCB* J"3 ?%EL3B &+" #6.* G]hhbI ZL'%#* 3%E'@$3K* L#B* J3"('V'&'CBC* C%* ].]_
M!?8) 7987M* D* 7M. SB* J3"('V'&'CBC* %#* "0%AB@* Jf2%3%@* %@ @'1'(B3* B* (B
"2$L0"* &"# %(* $3B$B1'%#$"* 798) 3%@L($B#C"* 1%#"3* %# ("@* $3B$B1'%#$"@ M)
GJp5.5`q <LBC3"* ]gI.* SB* J3"('V'&'CBC* 1U@* %(%0BCB* JB3B* "0%AB@* BCL($B@* @%
SB* J3"('V'&'CBC* JB3B "0%AB@* BCL($B@* VL%* C'V%3%#$%* %#$3%* $3B$B1'%#$"@
#6.)*]hh4I*D*%#*3%E'"#%@ &"# &('1B*&U('C"*].`*&"3C%3"@*G8B('#B &+"#69)*]hhbI.
&"#@'C%3B3* L#* 0B("3* J3"1%C'"* C%* ]._* &"3C%3"@* #B&'C"@* J"3* " 0%AB* G8B('#B &+
J3"('V'&'CBC* 0B3FB* %#$3%* ].4* B* ].`* GQB(%#&'B)* ]hg`I)* BL#ZL%* @%* JL%C%
&"3C%3"@ G8"#NU(%@c9%D#B &+" #6.)* ]hh]I)* @'#* %12B3E")* PBD* 3%J"3$%@* C"#C%* (B
%123'"#B3'B.* SB* "0%AB* J%('2L%D* J3%@%#$B* L#B* J3"('V'&'CBC* %#$3%* ]._* D* ].^
3BNB) %V'&'%#&'B* 3%J3"CL&$'0B* C%(* 3%2BY"* D C% (B* B2@"3&'K#* "* 1L%3$%
C%* (B* %V'&'%#&'B* %#* %(* 1B#%A"* #L$3'&'"#B()* @B#'$B3'")* % @$B&'K#* C%(* BY")* %CBC)
SB*J3"('V'&'CBC*%@*%(*J3"1%C'"*C%*&"3C%3"@*#B&'C"@*J"3*"0%AB) D C%J%#C%
]
]55.5 *G]I
]55.5 G]I
**********G5I
bb.6 *G4I
``.b *G`I
g`.6 *GbI
b4.` *G`I
4g.b *G4I
`5.5 G]I
O#"
o G#I
].55 x*5.55%
].55 x*5.55%
c
].^^ x*5.^^V
]._5 x*5.]b&
].]_ x*5.]_B
].^6 x*5.]g&
].6] x*5.]gC
].`5 x*5.`52
M3"('V'&'CBC
! x*;;
M*l ?K("*M3"E%@$UE%#".
M!?8*l*7&%$B$"*C%*R(L"3"E%@$"#B*G7R8Ie]4*CFB@ m _55*O=*C%*M!?8*B(*9%$'3B3*;@J"#AB@*G9;I.
798*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#Be^*CFB@*B#$%@*C%*9;.
7987M*l*7R8e]4*CFB@ m ^55*1Ec]*C% ScB3E'#'#B m *b *o*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
7M*l*7R8e]4*CFB@*B(*9; m b *o*C%*B&%'$%*C%*J%@&BC"e^*CFB@*B#$%@*C%*9;.
%)V!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJp5.5`I
G5I
G5I
G5I
^^.^ *G]I
__._ *G_I
]_.^ *G]I
^6.` *G^I
6]._ *G`I
`5.5 *G]I
:"@
o G#I
/f1%3"*C%*&"3C%3"@
B)2)&)C!%C'B@*&"#*C'@$'#$B*('$%3B(*@"#*C'V%3%#$%@*GJp5.5`I
7M
]
5
798
7987M
Mf2%3%@
^
]5
6
M!?8
7M
7987M
g
6
M!?8
798
7CL($B@
4
;$BJB
M
+3B$B1'%#$"
/f1%3"
C%*>0%AB@
49
<LBC3"* ]g. /f1%3"* C%* "0%AB@ E%@$B#$%@* J"3* %$BJB* D* J3"('V'&'CBC @%Ef#
$3B$B1'%#$".
Q= <>/<SO?=>/;?
&"#@L1"*C%*@L@$B#&'B@*P"31"#B(%@.
51
%@$"@*@LJ(%1%#$"@*%#*L#*J3"E3B1B*C%*#L$3'&'K#*%@$3B$-E'&B*JB3B*C'@1'#L'3*%(
ScB3E'#'#B*"*B&%'$%*C%*J%@&BC"*D*@L*'#$%3B&&'K#.*;@*J"@'2(% *(B*L$'('NB&'K#*C%
;(*&"1J"3$B1'%#$"*3%J3"CL&$'0"*VL%*BV%&$BC"*J"3*(B*@LJ(%1%#$B&'K#*C%
B(*"0B3'".
J3"@$BE(B#C'#B@*"*'#$%3V%3'3*%# @L*$3B#@J"3$%*J(B@1U$'&"*3%$3"E3BC"*C%(*f$%3"
JLC" 3%$3BNB3* (B (L$%"('@'@ J"3* (B* C'@1'#L&'K#* %#* (B J3"CL&&'K#* C%
;(* B&%'$%* C%* J%@&BC"* BC%1U@* C%* @%3* L#B* VL%#$%* C%* %#%3EFB)* $B12'-#
E"#BC"$3"J'#B@)*'#&3%1%#$B3*%(*V(LA"*@B#ELF#%"*D*%(*C%@B33"(("*V"('&L(B3.
J3"CL&&'K#* C%* K,'C"* #F$3'&" JLC"* PB2%3 %@$'1L(BC" (B* J3"CL&&'K#* C%
;(* B1'#"U&'C" ScB3E'#'#B* &"1"* @L@$3B$"* '#C'@J%#@B2(%* JB3B* (B
M!?8.
%@$3"@*D*%(*J"3&%#$BA%*C%*E%@$B&'K#*VL%3"#*1%#"3%@ B (B@*"0%AB@*$3B$BCB@*&"#
J3"('V'&'CBC*"2$%#'CB)*@'#*%12B3E"*("@*$'%1J"@*C%*3%@JL%@$B)*%(*J"3&%#$BA%*C%
Jf2%3%@.* SB* $B@B* "0L(B$"3'B* 3%E'@$3BCB* %#* "0%AB@* BCL($B@* &"#&L%3CB* &"#* (B
"0L(B$"3'B * D* J3"('V'&'CBC %#* "0%AB@* BCL($B@)* &"#$3B3'B1%#$%* %#* "0%AB@
;(* B1'#"U&'C" ScB3E'#'#B* D* B&%'$%* C%* J%@&BC"* '#&3%1%#$B3"#* (B* $B@B
V"('&L(B3.
D%ELB* J3%YBCB* GM!?8I VL%* 1BD"3* J"@'2(%1%#$%* J"3* L#* (%#$"* C%@B33"(("
;(*$'%1J"*C%*3%@JL%@$B*%#*("@*$3B$B1'%#$"@*@'#*E"#BC"$3" J'#B*@-3'&B*C%
S=+;97+O97*<>/?OS+7:7
52
53
<K3C"2B*=. 7. 8.) S.*8. 9L'N.) T.*>. ?B($'A%3B(.) 8.*T.*R. M-3%N.) :.*+. :%E%VB.
]hhh.*=#CL&&'K#*D*@'#&3"#'NB&'K#*C%*&%("@*%#*"0%AB@*&3'"((B@*B# -@$3'&B@
<B@$'((" X.)* T.* X%3#U#C%N S.* !.* W%33L%&"@ T. D T.* SKJ%N 7.)* ]h66.
<"1J"3$B1'%#$"*3%J3"CL&$'0"*C%(*2"33%E" +B2B@&"*1B#$%#'C"*%#*&('1B
$3"J'&B(.*=== ML2%3$BC*D CL3B&'K#*C%(*%@$3".*+-&#'&B M%&LB3'B.*!-,'&".*45k
`4c`b.
<B(C%3* M. <. ]hhg.* RB$* &PB#&%* "V* '11L#"1"CL(B$'"#. +3%#C@k* =11L#"("ED
+"CBD*]hGbIk*4__c4_6.
W3B##* :. s.) 8. u. WPB$) <.* 7. SB1B3)* B#C Q.* W. !BP%@P.* ]hh6.* 8B@%"L@
$3B#@1'$$%3@* B#C* #%L3"%#C"&3'#%* 3%EL(B$'"#.* /%L3"%#C"&3'#"("ED* b` k
^g`c^h`.
W%B1*?) s.) :. s. X"(&"12%.*]hh4.*;VV%&$@*"V*'#@L('#*BC1'#'@$3B$'"#*CL3'#E
V"(('&L(B3*E3"t$P*"#*@%3L1 E(L&"@%*B#C*P"31"#%*J3"V'(%@*'#*%t%c(B12@.
<B#BC'B#*T"L3#B(*7#'1B(*?&'%#&%@.*64k*_4]c_4b.
WB32B@*T.) <. WBJ$'@$B) 9. !B@&B3%#PB@) 7.*;.*!. X"3$B. 4554.*;VV%&$*"V*$t"
C"@%@* "V* %<8* "#* V%3$'('$D)* J3"('V'&B&D* B#C* V%&L#C'$D* '#* ?%33B* CB* ;@$%(B
%t%@*@L2A%&$%C*$"*C"L2(%*B3$'V'&'B(*'#@%1'#B$'"#.*9%0'@$B*M"3$LEL%@B*C%
r""$%&#'B)*4k*]^c4b.
7"DB1B*!.)*+.*+Bn%L&P'.)*H.*!"3')*B#C*X.*>nB1L3B.*]hhg.*/ '$3'&*",'C%*'#*$P%
0%#$3"1%C'B(* "V* $P%* PDJ"$PB(B1L@* 1%C'B$%@* B&$'"#@* "V* %@$3"E%#* "#
E"B$@* B#C '#E%@$'0%* 2%PB0'"3. T"L3#B(* "V* 9%J3"CL&$'"#* B#C
:%0%("J1%#$.*__k]_hc]`h.
733"D"* S.) T.) T. 8B((%E"@* ?.) 7. Q'((B* 8) D T. QB(%#&'B* !. 455b.* ?'@$%1B@
#%L3B(%@*C%*3%$3"B('1%#$B&'K#*CL3B#$%*%(*&'&("*3%J3"CL&$'0"*B#LB(*C%*(B
"0%ABk*O#B*3%0'@'K#. =#$%3&'%#&'B.*Q"(. ^].*/"*].
7$B1B# !.) W.) !. 7n‡N) B#C >. 7n1B#. 455b. =#CL&$'"#* "V* @D#&P3"#'N%C
"%@$3L@* '#* BnnB3B1B#* &3"@@ c23%C* %t%@* CL3'#E* 23%%C'#E* B#C* B#%@$3L@
@%B@"#@k*$P%*L@%*"V*@P"3$c$%31*B#C*("#Ec$%31*J3"E%@$%3"#%*$3%B$1%#$@.
9%0'%t.*!%C'&B(*Q%$%3'#B3D.*]`6.*`k*4`6c4b5.
7(C%3$"#* u.) s.) ;.* <. <""J%3) B#C* 8. 9. u#"t(%@.* 455].* /'$3'&* ",'C%
@D#$P%$B@%@k @$3L&$L3%)*VL#&$'"#*B#C*'#P'2'$'"#. W'"&P%1'@$3D.*T"L3#B(.
^`6k*`h^cb]`.
7&"@$B* T.)* +. 4556. ?$LC'%@* "V* V"(('&L(B3* 0B@&L(B3'$D* B@@"&'B$%C* t'$P* V"(('&(%
@%(%&$'"#* B#C* "0L(B$'"#* '#* &B$$(%. * T"L3#B(* "V* 9%J3"CL&$'"#* B#C
:%0%("J1%#$.*`^k^hc__.
54
8'2@"#* +. <.) +.* !. MP%3#%$$"#) !.* <. s'($2B#n* B#C 9. 9. !BE#%@@. 455_.
:%0%("J1%#$*B#C L@%*"V*B# "0B3'B# @D#&P3"#'NB$'"# 1"C%(*$" @$LCD*$P%
%VV%&$@* "V %#C"E%#"L@ %@$3"E%#* B#C #'$3'& ",'C%* "# L$%3'#% 2(""C V("t
CL3'#E "0B3'B# &D&(%@*'# @P%%J.*W'"("ED*"V*9%J3"CL&$'"#*65k*]ggbj]gh_.
8B3&FB)* ;. ]hgg. !"C'V'&B&'"#%@* B(* @'@$%1B* C%* &(B@'V'&B&'K#* &('1U$'&B* C%
u"-JJ%#. ;C.*;.*8B3&FB.*!-,'&".*]h_*J.
8B('#B !.) 7.) 9. !"3B(%@) ;. ?'(0B B#C W. SKJ%N. ]hhb.* 9%J3"CL&$'0%
J%3V"31B#&%* "V* PB'3* @P%%J* J%('2L%D* B#C* 2(B&n2%((D* L#C%3* !%,'&B#
$3"J'&B(*1B#BE%1%#$. ?1B((*9L1'#B#$*9%@%B3&P.*44k ^]c^g.
8B('#B* !.) 7.) ;. ?'(0B) !. 8L%33%3"* D 7. 7EL'(B3.* ]hh4.* <"1J"3$B1'%#$"
3%J3"CL&$'0"* C%(* 2"33%E" +B2B@&"* D W(B&n2%((D* 2BA"* JB@$"3%"* C'L3#"* %#
%(* $3KJ'&"* @%&"* 1%,'&B#"* %#* <"('1B.* 70B#&%@* C%* =#0%@$'EB&'K#
7E3"J%&LB3'B*]`k ]]gc]4h.
R"tC%#*7. S. ]hg5.*;VV%&$@*"V*B3E'#'#%*B#C*E(L&"@%*"#*$P%*3%B(%@%*"V*'#@L('#
'#*$P%*@P%%J*V%$L@. T"L3#B(*"V*;#C"&3'#"("ED.*g`k ]4]c]4h.
R'$NPLEP* X. 7.)* B#C* 8.;.* W3BCV"3C.* ]hg^.* M3"CL&$'0'$D* "V* PB'3* @P%%J* B#C
"JJ"3$L#'$'%@*V"3*'1J3"0%1%#$.*=#k*XB'3*@P%%J*"V*t%@$%3#*7V3'&B*B#C*$P%
71%3'&B@.* 7* E%#%$'&* 3%@"L3&%* V"3* $P%* $3"J'&@.* s'#3"&n =#$%3#B$'"#B(.
W"L(C%3*<"("3BC".*O?7. JJ*_c4^.
R7> 455b.*7#'1B(*R%%C*9%@"L3&%@*=#V"31B$'"#*?D@$%1*G7R9=?I. ttt.VB"."3E
etB'&%#$eVB"'#V"eBE3'&L($eBEBeBEBJeV3EeBV3'@e:B$Be^]_.P$1
R7> 455_.* Q"(.]e].* P$$Jkeettt.VB"."3Ee@$B$'@$'&@e7#LB3'"* %@$BCF@$'&"* C%* (B
R7>*455_*Q"(ˆ]c].P$1
:"t#'#E* T.* 7.)* B#C T. 9. ?&B3B1LNN'. ]hh].* /L$3'%#$* %VV%&$@* "#* "0L(B$'"#
3B$%)*"0B3'B#*VL#&$'"#*B#C*$P%*@%&3%$'"#*"V*E"#BC"$3"JP'&*B#C*1%$B2 "('&
P"31"#%@* '#* @P%%J. T"L3#B(* 9%J3"CL&$'"# B#C R%3$'('$D.* ?LJJ(%1%#$.
_^k*45hc446.
:"EB#*=.) B#C*r. /L3.*455b.*:'VV%3%#$ %@$3"L@*'#CL&$'"#*1%$P"C@*CL3'#E*$P%
#"#c23%%C'#E* @%B@"#* '#* u'30'3&'n* %t%@.* Q%$%3'#B3#'* !%C'&'#B)* `]* G_Ik
]^^c]^g.
:PB#CBJB#'*u.*!.) B#C*:. W3B##*s.*4555.*+P%*3"(%*"V*E(L$B1B$%*B#C*#'$3'&
",'C%* '#* $P%* 3%J3"CL&$'0%* #%L3"%#C"&3'#% @D@$%1. G72@$3B&$I
W'"&P%1'@$3D*<%((*W'"("ED.*6g*G^Ik*]b`c6h.
%@$B&'"#B(%@* &"#* %@J"#AB@* 0BE'#B(%@* '1J3%E#BCB@* C%* R87* D* M!?8
'#D%&$B2(%. 73&P'0"@.*r""$%&#'B. _gk _^6c__5.
55
X'#&P)*8. /.) B#C*T.*X.*s. 9"%("V@. ]hgb.*SLJ'#*V%%C'#E*B#C*'#@L('#*'#VL@'"#
CL3'#E* (B$%* (L$%B(* JPB@%* &B#* '#&3%B@%* "0L(B$'"#* 3B$%* '#* @P%%J.
M3"&%C'#E@*7L@$3B('B#*?"&'%$D*9%J3"CL&$'"#.*W'"("ED.*]gG_4I*GB2@$3B&$I.
X%33%3B)*<.*T. R.*T.*7. wL'#$B() Q. T.*<. uf) D 8.*S. s'(('B1@. 455^. ;V%&$"*C%
(B*BC'&'K#*C% U&'C"@*E3B@"@*J"(''#@B$L3BC"@*@"23%*(B*C'#U1'&B*V"('&L(B3)
$B@B*C%*E%@$B&'K#*D* 3%@JL%@$B*"0U3'&B*%# "0%AB@*J%('2L%D. +3"J'&B(*B#C
?L2$3"J'&B(*7E3"%&"@D@$%1@. 4k ]5]c]5_.
X%3#U#C%N* M.) T. ;.)* D* R. R.* 9%D%@.* ]hhh.* 9%J3"CL&&'K#* C%* @'%$%* %@J%&'%@
C"1-@$'&B@.*O#'0%3@'CBC*7L $K#"1B*!%$3"J"('$B#B)*z"&P'1'(&". *O7!cz.
!-,'&")*:.R.*^``*J.
XB13B)*7.) R.*!.) 7. 7(c:B2B@ B#C*R.* +. 7tBtC%P.*455^.*;VV%&$*"V*B3E'#'#%
@LJJ(%1%#$B$'"#* "#* JL2%3$D* B#C* @"1%* 3%J3"CL&$'0%* $3B'$@* '#* V%1B(%
7tB@@'*?P%%J.
XBV%N* ;.?.;.)* B#C* W.* XBV%N.* 455^.* 9%J3"CL&$'"#* '#* VB31* B#'1B(@.* ?%0%#$P
;C'$'"#.*S'JJ'&"$$*s'(('B1*B#C*s'(n'#@.*`5h*J.
XBV%N)* ;.?.;.* ]hhg.* 9%J3"CL&&'K#* %* '#@%1'#B&' K#* B3$'V'&'B(* %#* B#'1B(%@. _€
;C.*=#$%3B1%3'&B#B.*!-,'&")*:.R.*`hh*J.
8""C1B#) 9. S.)* B#C* ;.* u. =#@n%%J. 455b.* /%L3"%#C"&3'#%* &"#$3"(* "V* $P%
"0B3'B#* &'&(%* "V* $P%* @P%%J.* =#.* u#"2'(* B#C* /%'((}@* MPD@'"("ED* "V
9%J3"CL&$'"#.*;C'$%C*2D*T'11D*:.*/%'((. ;(@%0'%3. JJ*4^ghc4__6.
8"#NB(%@c9%D#B* 7.) !.* T. QB(%#&'B) s.* <. R""$%* B#C W.* :. !L3JPD. ]hh].
XB'3* @P%%J* '#* !-,'&".* 9%J3"CL&$'"#* '#* $P% M%('2L%D* @P%%J.* 7#'1B(
W3%%C'#E*72@$3B&$*`hk `5hc`4].
8"#NU(%@* M.) ;.* 455^.* ML2%3$BC* %#* 2"0'#"@k* W f@ZL%CB* C%* VB&$"3%@* ZL%* (B
3%EL(B#. U$k !%1"3'B@* C%( ===* <L3@"* =#$%3#B&'"#B(* C%* R'@'"("EFB* C%* (B
9%J3"CL&&'K#* %#* 9L1'B#$%@.* !%1"3'B@.* <"(%E'"* C%* M"@$E3BCLBC"@.
+%,&"&")*;C"*C%*!-,'&". JJk*_]c`_.
8"#NU(%NcWL(#%@* 7.) 7. SKJ%Nc?%2B$'B#) !.* 9. ?B#$'BE") S.* 7. Q%'EB) :.* 7.
+"(%CB#") D* =. <"#$3%3B@. 455`.* ==.* !-$"C"@* B($%3#B$'0"@* %#
2'"$%&#"("EFB@*3%J3"CL&$'0B@*%#*"0'#"@*D*&BJ3'#"@. U$k*!%1"3'B@*C%(*=Q
<L3@"* =#$%3#B&'"#B(* C%* 9%J3"CL&&'K#* %#* 9L1'B#$%@. * ?%J$'%123%.
<"(%E'"*C%*M"@$E3BCLBC"@.*+%,&"&")*;C"*C%*!-,'&". *MJ ]6c4g.
83'12(%* =. 9. R.* ]hhg.* !"CL(B$'"#* "V* '#V(B11B$"3D* B@J%&$@* "V* '11L#%
VL#&$'"#*2D*#L$3'%#$@. /L$3'$'"#*9%@%B3&P.*]gG6Ik*]4h6c]^]6.
56
u3'C(') 9. +.)* !. w. XL@%'#) X. 7. !LPC') B#C T. !. 7(cuPBNB(%P.* 455b.
9%J3"CL&$'0%* J%3V"31B#&%* "V* P"31"#B((Dc$3%B$%C* B#%@$3"L@* 7tB@@'
%t%@.*7#'1*9%J3"C. ^G^Ik^_6c^`4.
u#"t(%@)* 8.* 9.) !.* MB(B&'"@) !.* 9'&PB3C)* T.* MB(1%3. B#C* ?.* !"&BCB.* ]hgh.
R"31B$'"#*"V*#'$3'&*",'C%*V3"1*ScB3E'#'#%*'#*$P%*&%#$3B(*#%30"L@ @D@$%1k
7* $3B#@CL&$'"#* 1%&PB#'@1* V"3* @$'1L(B$'"#* "V* $P% @"(L2(%* ELB#D(B$%
&D&(B@%. !%C'&B(*?&'%#&%@.*M3"&.*/B$'.*7&BC.*?&'. gbk`]`hc`]b4.
u"@'"3cu"3N%&nB)* O.) B#C* 9. W"2"t'%&. 455^.* <PB#E%@* '#* $P% (%0%(* "V
%#C"E%#"L@*(%J$'#)* R?X)*]6•c>%@$3BC'"(*B#C*1%$B2"('$%@*CL3'#E*(LJ'# c
'#CL&%C* '#&3%B@%* '#* "0L(B$'"#* 3B$%* '#* %t%@.* T"L3#B(* "V* Q%$%3'#B3D
!%C'&'#%* ?%3'%@
`5G6I.
^_^j^_h* G72@$3B&$I.
ttt.2(B&nt%((c
@D#%3ED.&"1e$"&eA0Be`5e6
u"P#")* X.) <. >nB1"$") u. ='CB. +. +Bn%CB) ;. uB#%n") <. uBtB@P'1B) 7.
!'DB1"$") B#C* H. RLnL'. 455`.* <"1JB3'@"#* "V* %@$3L@* '#CL&$'"#* B#C
@L2@%ZL%#$* V%3$'('$D* t'$P* $t"* C'VV%3%#$* '#$3B0BE'#B(* C%0'&%@* '#* %t%@
CL3'#E* $P%* #"#c23%C%%'#E* @%B@"#.* T"L3#B(* "V* 9%J3"CL&$'"#* B#C
:%0%("J1%#$.*`]k g5`cg]4.
u'#@%((B T.) ;. ]hgb.* R""C* &"1J"#%#$@* t'$P* J"$%#$'B(* $P%3BJ%L$'&* 2%#%V'$@k
$P%*#c^*J"(DL#@B$L3B$%C*VB$$D*B&'C@*"V*V'@P*"'(.*R""C*+%&P#"("ED.*gh ch6.
u'$%@@B* ?. !.) :. M%Bn%) 9. W%#&'#') B#C* 7.T. s'(('B1@.* 455^.* R'@P* "'(
1%$B2"('@1* '#* 3L1'#B#$@* ===.* +3B#@V%3* "V* # c^* J"(DL#@B$L3B$%C* VB$$D
B&'C@*GMOR7I*V3"1*$L#B*"'(*'#$"*@P%%J}@*1'(n.*7#'1B(*R%%C*?&'%#&%*B#C
+%&P#"("ED*]5gk ]c]_.
=Y'EL%N)*8.)*7.*Q'((B0'&%#&'")*R.*8B2(%3)*7.*MB("1'#"*B#C*!.*Q%EB.*455]. ;VV%&$
"V* #'$3'&* ",'C%* "#* $P%* %,J3%@@'"#* "V* '#@L('# c('n% E3"t$P* VB&$"3@* B#C
'#@L('#c('n%* E3"t$P* VB&$"3* 2'#C'#E* J3"$%'#@ $P3"LEP"L$* $P%* ('V%@JB#* "V
$P%*PL1B#*&"3JL@*(L$%L1.*9%J3"CL&$'"#.*]44k*gb`jg6^.
='CB)* u.) /. u"2BDB@P') X. u"P#") 7. !'DB1"$") B#C* H. RLnL'.* 455_.* 7
&"1JB3B$'0%* @$LCD* "V* '#CL&$'"#* "V* %@$3L@ B#C* "0L(B$'"#* 2D* $P3%%
C'VV%3%#$* '#$3B0BE'#B(* C%0'&%@* '#* %t%@* CL3'#E* $P%* #"# c23%%C'#E* @%B@"#.
T"L3#B(*9%J3"CL&$'"#*B#C*:%0%("J1%#$.*`5k b^cbh.
X"VV1B#)* :. 9.) ;.* ;. W'3&P) :.8. W'3&P) B#C* 9.* :. OBLD. ]hh^.* ;VV%&$* "V
@LJJ(%1%#$B$'"#* t'$P* #c^* ("#E* &PB'#* J"(DL#@B$L3B$%C* VB$$D* B&'C@* "#
3%$'#B(* B#C* &"3$'&B(* C%0%("J1%#$* '#* J3%1B$L3%* '#VB#$@.* 71%3'&B#
T"L3#B(*<('#'&B(*/L$3'$'"#.*`6k*g56@cg]4@.
57
/%(@"#)*:.S.*B#C*!.!.*<",.*4555.*S%P#'#E%3*J3'#&'J(%@*"V*2'"&P%1'@$3D.*/%t
H"3n)*/.H.*^B*%C. ;C.*R3%%1B#*s*X*‹*<". ]]`4J.
!LY"Nc8L$'-33%N)* !.) :. W(B&P%) 8.W. !B3$'#) B#C 9.T. ?&B3B1LNN'. 455_.
>0B3'B#* V"(('&L(B3* %,J3%@'K#* "V* 19/7* %#&"C'#E* $P%* $DJ%*=*=8R* 3 %&%J$"3
B#C* =8Rc2'#C'#E* J3"$%'#c4* '#* @P%%J* V"(("t'#E* V'0%* CBD@* "V* #L$3'$'"#B(
@LJJ(%1%#$B$'"#* t'$P* E(L&"@%)* E(L&"@B1'#%* "3* (LJ'#L@.* 9%J3"CL&$'"#
]4gk 6_6c6`b.
!"#E%$)* M.) ?. RB23%) M. !L(@B#$) R. S%&%3V) T.!. ;(@%#)* ?. !BN%32"L3E) <.
M'@@%(%$) B#C*:. !"##'BL,.*4554.*9%EL (B$'"#*"V*"0B3'B#*V"(('&L("E%#%@'@
2D* =8R* B#C* W!M* @D@$%1* '#* C"1%@$'&* B#'1B(@.* :"1%@$'&* 7#'1B(
;#C"&3'#"("ED*4^k ]^hc]`_.
!'(#%3)*9.:.) !.*7. 7@Pt"3$P) B#C*7.*T. WB3@"#.*]h64.*=#@L('# 3%(%B@%*V3"1
PL1B#* V"%$B(* JB#&3%B@* '#* 3%@J"#@%* $"* E(L&"@%)* (%L&'#%* B#C* B3E'#'#%.
T"L3#B(*"V*;#C"&3'#"("ED.*`4k _h6c`5`.
!B$$"@)*9.) 9.*<. ?$BJ(%@) B#C*s.*s. +PB$&P%3. 4555.*;VV%&$@*"V*C'%$B3D*VB$$D
B&'C@* "#* 3%J3"CL&$'"#* '#* 3L1'#B#$@.* T "L3#B(* 9%J3"CL&$'"# B#C
R%3$'('$D.*9%0'%t@*"V 9%J3"CL&$'"#.*`k*^gc_`.
!B3F#)* 7. 7. !.) !.* T.* <. +'#"&") <.* T. X%33%3B) 8.* S.* 8. ?U#&P%N) M.* Q.* !.
?U#&P%N) 9.*T.*S. ?"("3'") D*Q.*7. 8B3&FB.*4556.*9%'#'&'"*C%*(B*B&$'0'CBC
"0U3'&B* D* #'0%(* C%* 1%$B2"('$"@* C%* (FJ'C"@* %#* 0B&B@* (%&P%3B@
@LJ(%1%#$BCB@* &"#* B&%'$%* 0%E%$B(* CL3B#$%* %(* J"@JB3$"* $%1J3B#".
=#$%3&'%#&'B. ^4G^Ik ]g5c]g_.
SL#B* !.* ;.) :.* !. 7(2B33U#) D* /.* T.* S. 8B((B3C".* 455b.* ?'$LB&'K#* B&$LB(* D
J%3@J%&$'0B@* C%* (B* J3"CL&&'K#* C%* &B3#%* C%* 2"0'#"* %#* !-,'&".
[email protected]"2.1,e:EEe%@$LC'"e@'$2"05b.JCV
SKJ%Nc?%2B@$'U#)* 7.) 7. 8"#NU(%@cWL(#%@) !.* T. ?B#$'BE") S.* 7. Q%'EB) :.* 7.
+"(%CB#") =. <"#$3%3B@. 455`.* !B#%A"* 3%J3"CL&$'0"* %#* J%ZL%Y"@
3L1'B#$%@. U$k !%1"3'B@*C%( =Q*<L3@"*=#$%3#B&'"#B(*C%*9%J3"CL&&'K#*%#
9L1'B#$%@. <"(%E'"*C%*M"@$E3BCLBC"@. +%,&"&")*;C"*C%*!-,'&".*JJ g^c
]5_.
SKJ%Nc?%2B@$'U#)* 7.) 7. 8"#NU(%@cWL(#%@) D* !.* T. ?B#$'BE".* 455].* !B#%A"
3%J3"CL&$'0"* %#* J%ZL%Y"@* 3L1'B#$%@. U$k !%1"3'B@* C%( ==* <L3@"
=#$%3#B&'"#B(.*‰R'@'"("EFB*C%*(B*9%J3"CL&&'K#*%#*3L1'B#$%@Š.*<"(%E'"*C%
M"@$E3BCLBC"@.*+%,&"&")*;C"*C%*!-,'&". JJ ]c44.
S%"#B3C* T.) Q. 455].* +P%* #L$3'$'"#B(* 1B#BE%1%#$* "V* L3%B* &D&(%* C'@"3C%3@.
T"L3#B(*M%C'B$3'&.*]^gk `_5c`__.
58
9"2'#@"#)* T. T.)* T.* <. 7@Pt"3$P) T.* 7. 9""n%) !.* S. !'$&P%(() B#C* 8.* +.
!&;0"D. 455b.* /L$3'$'"#* B#C* V%3$'('$D* '#* 3L1'#B#$* ('0%@$"&n.* 7#'1B(
?&'%#&%*B#C*+%&P#"("ED.*]4bk 4`hc46b.
9"2'#@"#)* ?. 9.) 7.* 8.* M. ML@PJBnL1B3B) r. <P%#E) 9.* 7. M%$%3@) ;.* 9.* :.
72BDB@%nB3B) B#C* <.* :. sB$P%@.* 4554.* ;VV%&$@* "V* C'%$B3D
J"(DL#@B$L3B$%C*VB$$D*B&'C@*"#*"0B3'B#*B#C*L$%3'#%*VL#&$'"#*'#*(B&$B$'#E
CB'3D*&"t@.*9%J3"CL&$'"#.*]4_k ]]hc]^].
9-1"#C)*:.) !.*M. S%*8L%#) <. M"#&%$. 455^.*:%E3BCB$'"#*'#*$P%*3L1%#*B#C
#L$3'&'"#B(* 0B(L%* "V* (LJ'#* GE21.$2*" #6P2** S.I* @%%C* J3"$%'#@* %VV%&$* "V
%,$3L@'"#.*7#'1B(*R%%C*B#C*+%&P#"("ED.*]5` k ``c65.
9%&B2B33%#)* ?. ;.) X. ;@&"2B3) 7. S"2"@) !.* M. 9%&B2B33%#)* B#C* T.* MB3'(".
]hhb2.* SL$%'#'N'#E* P"31"#%* JL(@%* V3%ZL%#&D* '@* '#&3%B@%C* 2D* 73E'#'#%
'#VL@'"#* '#* J3%cJL2%3$B(* @P%%J. ;,J%3'1%#$B(* <('#'&B(* ;#C"&3'#"("ED
:'B2%$@.*]5_k*64c66.
9%&B2B33%#)*?. ;.) 7. T"V3%) 7. S"2"@) M. >3%((B#B) B#C*T. MB3'(". ]hhbB.*;VV%&$
"V*B3E'#'#B*B#C*"3#'$P'#%*'#VL@'"#@*"#*(L$%'#'N'#E*P"31"#B*@%&3%$'"#*'#
J3%JL2%3B(*%t%@. T"L3#B(*"V*7#'1B(*?&'%#&%@. 6_k ]b4c]bb.
9BAn"0'&)*7.) 7.*?. MB#EB@) B#C*!.*!. !B$NLn.*455b.*R"(('&L(B3*C%0%("J1%#$k
!"L@%)*?P%%J*B#C*XL1B#*!"C%(@.*=#k*u#"2'(*B#C*/%'( @}@*MPD@'"("ED*"V
9%J3"CL&$'"#.*;(@%0'%3.*MJ*^g^c_4^.
M"$%#NB)* !.7.) <. /B&&') B#C* :. !'$"("c<P'%JJB. 455].* =11L#"3%EL(B$"3D
%VV%&$@*"V*Sc*73E'#'#%*B#C*$P%3BJ%L$'&B(*'1J('&B$'"#@.*<L33.*:3LE*+B3E.)
]k b6c66.
M%(L@"*T.) T. 455b.*!L($'J('&'$D*"V*M3"E%@$%3"#%ƒ@*7&$'"#@*B#C*9%&%J$"3@*'#*$P%
!B11B('B#*>0B3D.*W'"("ED*"V*9%J3"CL&$'"#.*6`k 4jg.
MB(1%3)* T. M.) 9.* !. sB($%3) B#C* T.* s. ;#@'#&n.* ]h6`.* 73E'#'#%* @$'1L(B$%C
B&L$%*JPB@%*"V*'#@L('#*B#C*E(L&BE"#*@%&3%$'"#*'#*#"31B(*1B#.*:'B2%$%@.
4_k 6^`c6_5.
>(CPB1)*<.*!.)*:.*9. S'#C@BD.*]hg_.*+P%*1'#'1L1*J%3'"C*"V*'#$Bn%*"V*(LJ'#
E3B'#*3%ZL'3%C*2D*%t%@*$"*'#&3%B@%*$P%'3*"0L(B$'"#*3B$%*tP%#*E3BN'#E*C3D
@L11%3*JB@$L3%.*O#'0.*M3%@@)*<B123'CE%)*46_ c46`.
/"$$(%)* !.* W.) W.* M. ?%$&P%(()* B#C* 9.* R. ?%B1B3n.* G]hg6Ik* ?P"3$c$%31
@LJJ(%1%#$B$'"#* t'$P* (LJ'#* EB'#* '#&3%B@%@* R?X* '#* $P%* "0B3'%&$"1'N%C)
%"@$3BC'"(c'1J(B#$%C* %t%.* M3"&%%C'#E@* "V* 7L@$3B('B#* ?"&'%$D
9%J3"CL&$'"#*W'"("ED.*]hc^6.
59
?P%B3C)* /. R.* ]hhg.* R'@P* &"#@L1J$'"#* B#C* 3'@n* "V* @LCC%#* &B3C'B&* C%B$P.
/L$3'$'"#*9%0'%t.*`bGbIk ]66c]6h.
?&P'(C* :.) B#C* :. 9%@$3%J". ]hhg. +3B#@CL&$'"#* 1%&PB#'@1@* '#* 0%3$%23B$%
"(VB&$"3D* 3%&%J$"3* &%((@.* MPD@'"("E'&B(* 9%0'%t@.* 71%3'&B#* MPD@' "("E'&B(
?"&'%$D.*MPD@'"("E'&B(*9%0'%t@.*6g*k*_4hc_bb.
?%EL3B)*T. <.) S. ?B31'%#$") B#C*>. 9"AB@.*]hhb. M3"CL&$'0'$D*"V*J%('2L%D*B#C
2(B&n2%((D* %t%@* '#* !-,'&"* L#C%3* %,$%#@'0%* 1B#BE%1%#$.* ?1B((.
9L1'#B#$*9%@%B3&P.*4]k `6cb4.
?&B3B1LNN')* 9. T.) W. u. <B1J2%((.) T.* 7. :"t#'#E.) /.* 9. u%#CB((.) !.
uPB('CB) !. !LY"Nc8L$'-33%NC.) B#C*7. ?"1&P'$B.*455b.*7*3%0'%t*"V*$P%
%VV%&$@* "V* @LJJ(%1%#$B3D* #L$3'$'"#* '#* $P%* %t%* "#* $P%* &"#&%#$3 B$'"#@* "V
3%J3"CL&$'0%* B#C* 1%$B2"('&* P"31"#%@* B#C* $P%* 1%&PB#'@1@* $PB$
3%EL(B$%* V"(('&L("E%#%@'@* B#C* "0L(B$'"#* 3B$%* G72@$3B&$I. 9%J3"CL&$'"#
/L$3'$'"#B(*B#C :%0%("J1%#$.*_bk ^^hc^`_. U$k ttt.%CJ@&'%#&%@."3E
?&B3B1LNN'*9.) T. ]hgg.*9%J3"CL&$'"#*3%@%B3&P*'#*J%3@J%&$'0%.*M3"&&%%C'#E@
"V*$P%*7L@$3B('B#*?"&'%$D*"V*7#'1B(*M3"CL&$'"#*]6 k `6c6^.
?7?.* ]hhh.* +P%* ?7?* @D@$%1* V"3* s'#C"t@. Q%3@'"#* g.* ?7?* =#@$'$L$%)* =#&.)
<B3D)*/<)*O?7.
?7879M7.* 455b. <""3C'#B&'K#* 8%#%3B(* C%* 8B# BC%3FB. /"31B@* >V'&'B(%@
[email protected]"2.1,eCEEe#1,
9"#CK#)*!.r.7.)*T.*W.*C%*<"12'((B@.)*O.T.*?B'C.)*/.*!B3$F#%N.)*D*S.*9F"@.*4554.
;0B(LB&'K#* C% B(EL#"@* VB&$"3%@* ZL%* BV%&$B#* (B* '#$3"CL&&'K#* B* (B
3%J3"CL&&'K#* %#* 2"33%EB@* s%@$* 7V3'&B#. 9%0'@$B* <'%#$FV'&B* Q"(.* z==c
?LJ(%1%#$"*4)*>&$L23%)*__`c__g.
9"C%PL$@&"3C) !.)*M. H"L#E) /. MP'(('J@) B#C*<.*S. sP'$%.*]hhh.*s""(*E3"t$P
'#* 1%3'#"* t%$P%3@* V%C* (LJ'#L@* L#$3%B$%C* "3* $3%B$%C* t'$P* P%B$* "3
V"31B(C%PDC%)*t'$P*B#C*t'$P"L$*B*@LJJ(%1%#$B$'"#*"V*3L1%#*J3"$%&$%C
1%$P'"#'#%. 7#'1B(*?&'%#&%*B#C*+%&P#"("ED*g4k 4]^c44b.
9""n%)*T. 7.)*<.*<. ?PB") B#C*W.*u. ?J%Bn%.*455].*;VV%&$@*"V*V%%C'#E*$L#B*"'(
"#*$P%*('J'C*&"1J"@'$'"#*"V*J'E*@J%31B$"N"B*B#C*'#*0'$3"*&PB3B&$%3'@$'&@
"V*@%1%#.*9%J3"CL&$'"#*]4]k ^]`c^44.
9P"C%@)*S.) B#C*M.*s. /B$PB#'%(@N.*]hgg.*<"1JB3'@"#*"V*B*&"#$3"((%C*'#$%3#B(
C3LE* 3%(%B@%* C%0'&%* &"#$B'#'#E* J3"E%@$%3"#%* t'$P* '#$3B0BE'#B(
1%C3",'J3"E%@$%3"#%* @J"#E%@* V"3* %@$3L@* @D#&P3"#'NB$'"#* '#* %t%@.
+P%3'"E%#"("ED*_k g^].
60
QB(%#&'B)*r.)*!) B#C*;.*8.*MBC'((B. ]hg^.*M%('2L%D*@P%%J*'#*!-,'&". =#k*XB'3
@P%%J* "V* t%@$%3#* 7V3'&B* B#C* $P%* 71%3'&B@.* 7* E%#%$'&* 3%@"L3&%* V"3* $P%
$3"J'&@.*s'#3"&n*=#$%3#B$'"#B(.*W"L(C%3*<"("3BC".*MJ*`` c6_.
+@LnBPB3B)* ?.) X. +@LnB1B3B) B#C* u. !B%CB.* ]hhg.* ;@$3"E%#* 1"CL(B$%@
%VV%&$@*"V*E(L$B1B$"*"# U$"V.+',*E"#BC"$3"J'#c3%(%B@'#E*P"31"#B*3%(%B@%
2D*B($%3'#E*#'$3'&*",'C%*B&$'"#*'#*V%1B(%*3B$@.*T "L3#B(*9%J3"CL&$'"# B#C
:%0%("J1%#$.*__k ^hhc_5`.
?LnB3C'* ?.) X. HBBnL2) ?. 8B#B2BC')* B#C S.X <P%#E.* 455b. ;VV%&$@* "V* Sc
73E'#'#%*"#*$P% 3%J3"CL&$'0% @D@$%1 "V 1B(% 3B22'$@. !B(BD@'B T"L3#B(
/L$3'$'"#*]4 G4Ik*45]c4]].
?$'&n%3) ?. S.) :.*S.*T3. +P"1J@"#) B#C*S.*9. 8%#$3D.*455].*M'$L'$B3D*P"31"#%
'#@L('#* 3%@J"#@%@* $"* '#VL@'"#* "V* B1'#"* B&'C@* B# C* /c1%$PD(c:)Sc
B@JB3$B$%*'#*P"3@%@.*T"L3#B(*7#'1B(*?&'%#&%.*6hk 6^`c6__.
?$%tB3$)*9.)*B#C <.*!. >(CPB1.*]hgb.*R%%C'#E*(LJ'#@*$"*%t%@*V"3*V"L3*CBD@
CL3'#E*$P%*(L$%B(*JPB@%*&B#*'#&3%B@%*"0L(B$'"#*3B$%.*M3"&% %C'#E@*"V*$P%
7L@$3B('B#*?"&'%$D*"V*7#'1B(*M3"CL&$'"#*]b k*^b6c^65.
?ZL'3%@* ;.) T.* 455]. 7JJ('%C* 7#'1B(* ;#C"&3'#"("ED.* <7W=* ML2('@P'#E.* O?7.
4^_*JJ.
?M??)*4554. +P%*?M?? V"3*s'#C"t@)*]].`.5. uBJ(B#c!%'%3*?L30'0B(*7#B(D@'@.
?M??)*=#&.
?"LNB)*X. < T.) W. u. <B1J2%(()*B#C*+.*:. WB'3C. ]hh6.*R"(('&L(B3*CD#B1'&@
B#C* "0B3'B#* @$%3"'C* @%&3%$'"#* '#* @P%%J* CL3'#E* $P%* V"(('&L(B3* B#C* %B3(D
(L$%B(* JPB@%@* "V* $P%* %@$3"L@* &D&(%.* W'"("ED* "V* 9%J3"CL&$'"#.* `bk _g^c
_gg.
?"1&P'$B&)* 7.) W.u.* <B1J2%((C)* !.) uPB('C2)* /.9.)* u%#CB((C* B#C* 9.T.
?&B3B1LNN'. 4556.*+P%*%VV%&$*"V*@P"3$c$%31*#L$3'$'"#B(*@LJJ(%1%#$B$'"#
"V*%t%@*t'$P*(LJ'#*E3B'#*GSLJ'#L@*(L$%L@I)*CL3'#E*$P%*(L$%B(*JPB@% *"V*$P%
%@$3"L@*&D&(%*"#*$P%*#L12%3*"V*"0B3'B#*V"(('&(%@*B#C*$P%*&"#&%#$3B$'"#@
"V*P"31"#%@*B#C*E(L&"@%*'#*J(B@1B*B#C*V"(('&L(B3*V(L'C .*+P%3'"E%#"("ED.
bgG6Ik*]5^6c]5_b*G72@$3B&$I. ttt.$P%3'"A"L3#B(.&"1eB3$'&(%e M==?55h
^bh]z5655_h]g eB2@$3B&$
?/==!)*455b. ttt.@%&"V'c@#''1.E"2.1,e?/==!c73&P'0"@VL%#$% e<"1%#$B3'"@
e>$3"@e&#BJ%&c5b.,(@
?=7M.*455^.*7#LB3'"*7E3"J%&LB3'". ttt.@'BJ.E"2.1,.
61
sL)* 8.) B#C !. ?. !"33'@.* ]hhg.* 73E'#'#%* !%$B2"('@1k* /'$3'&* >,'C%* B#C
2%D"#C.*W'"&P%1'@$3D*T"L3#B(.*^^bk ]c]6.
sL)*8.) B#C*<.*T. !%'#'#E%3. 4554.*9%EL(B$'"#*"V*#'$3'&*@D#$P%@'@*2D*C'%$B3D
VB&$"3@.*7##LB(*9%0'%t*/L$3'$'"#.*44k b]cgb.
s'(('B1@)*?. 7.) :. W(B&P%)*8. W. !B3$'#)*9. R""$) !. 7. W(B&n2%33D) B#C 9. T.
?&B3B1LNN'. 455].*9%J3"CL&$'"#.*;VV%&$*"V*#L$3'$'"#B(*@LJJ(%1%#$B$'"#
"#* ZLB#$'$'%@* "V* E(L&"@%* $3B#@J"3$%3@* ]* B#C* _* '#* @P%%J* E3B#L("@%* B#C
$P%&B*&%((.*9%J3"CL&$'"#.*]44k h_6ch`b.
s'(C%L@*?. ]hhh.*<L33%#$*&"#&%J$@*'#*@D#&P3"#'NB$'"#*"V*%@$3L@k*@P%%J*B#C
E"B$@. M3"&%%C'#E@*"V*$P%*71%3'&B#*?"&'%$D*"V*7#'1B(*?&'%#&%. 71%3'&B#
?"&'%$D "V*7#'1B(*?&'%#&%@.*]c]_.
s%22)*9.) 7.*!. :3'B#&"L3$) B#C*M.*T. XB#3BPB#.*]hhg.*>0L(B$'"#*3B$%*'#*$P%
%t%k*!%&PB#'@1@*L#C%3(D'#E*E%#%$'&*0B3'B$'"#.*s""(*+%&P#"("ED*?P%%J
W3%%C.*_bG_Ik ^_^c^`4.
Q'Y"(%@ 8.) <. 455^.* ;VV%&$* "V* /L$3'$'"#* "#* R"(('&(%* :%0%("J1%#$* B#C
>0L(B$'"#* 9B$%* '#* $P%* ;t%.* :"&$"3B(* $P%@'@.* ?t%C'@P* O#'0%3@'$D* "V
7E3'&L($L3B(*?&'%#&%@.*OJJ@B(B.
Q'Y"(%@) <.) !. R"3@2%3E) 8.* W. !B3$'#) <. <BAB30'((%) T. 9%J%$$")* B#C 7.
!%'n(%.* 455`.* ?P"3$c$%31* #L$3'$'"#B(* @LJJ(%1%#$B$'"#* "V* %t%@* '#* ("t
2"CD*&"#C'$'"#*BVV%&$@*V"(('&(%*C%0%("J1%#$*CL%*$"*B#*'#&3%B@%*'#*E(L&"@%
B#C*1%$B2"('&*P"31"#%@.*9%J3"CL&$'"# ]4hk 4hhc^5h.
Q'@%n*s.) T. ]hg`.*73E'#'#%*B#C*C'@%B@%*@$B$%@.*T"L3#B(*/L$3'$'"#.*]]`k `^4c
`_].