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GI OU GI ]QHU[]
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HN\ QHJ G\L[W UH [JCO H][HJT [LN\Q HC VTHS C\Q M[FG
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GDO\ CQ[G ZTW\ HQN GOLJ]DN PGO PO\O DLLJ ]QHU[] \L\ PLSWHCDH TLLW]SH [IJ \FJG
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VC GUD[C PGO PO\Q ZLTUQG CDKL[ DH[G [JC RCN PLNOHG RLC\ DH[ COH CZHF ON
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JLO\GH GUD[CD JLO\O [QC ]LDG OUD\ LW OU VC "HLOUDQ DHK USQ] OC MO ]LO GLO L[QCF
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L[LCQD RN \[HWQ [DNH JLO\O LULD[G
L[G\ HLOUDQ DHK ]ULSQF ]QHU[]
RCN RLC\ [D]TQ [SLF H]HCD JLO\G GNHI GLG RNC PC\ C[QEG L[DFQ RN UHQ\O GC[S
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[LNL DGUD\ [\WC PEH DGUD ]C JLH[G GID COG JHL[ PGQ USQ\ WUC LN RCN RLC ]QHU[] VC\ G]LG CL\HZD GJSGGH
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L[GH PGO FDU]\S\ ]HFDU]\G FYQ DLLJ\ D]N CDKL[GH \C[H TH] LQ[EF CSLF RLCFF
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CO RLLFU\ [HKW RLLFU HNOG CO PC LIC [JC PHZQD [N]\GO PLCYHQ HLG CO HLFUOD PE PCH
GHQN P]NLOG\ OKD OUHWN PO\O DLLJ HNOG PCH \C[ HLOU PGO RLC ]QHU[] HOLWCH DLLJ]G
FHDU\GH RLSZG OJ GD\ GNCOQG ]OLJ]N
HGQ]H HLOU PGO RLC ]QHU[] VC PLOUHW HCD CO RLLFUH HD [IJ PC\ GI ]C GI HUKGD HFLQUG\ CQZ CS\OO C]LC VL[D
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PGO [QC PC Z[H H][IJD ]QHU[] HLOU RLC JLO\ LU PLOUHW [N\\ ZOD HFLQUG\ RWHCD\ VL[G ]SHHNH ]ZHOJQ RLC
CZHFD KZS CS]G\ MNQ VL[G RN FQO\ ]HKL\WD \[WO \L G[HCNOH GDJ[GD PL[DFG [HCD \U ]QHU[] HLOU \L HQYUD
GI OUH H[IJ HUKG
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]HQHU[] PGO \L CS]G [QCZ
G]U [N]\GO PLCYHQ PSLC [\CN GNCOQD HOLJ]G\ LSWO [IJ\N DGUD DHLJ RLD \L LSH[ZU ZHOLJH
]H[LN\ GOJ [DN L[G RH[JCG RWHCD HOLJ]G\ [JCO [IJ\N DGUD DHLJ RLDH HLFUOD PLCYHQ HLGH
RLO] ODD [DHUH OUHW [N\ RLFN RLOKOKQ [C\D HZOTO OHNL HSLC RNOH H[N\ OND DLLJ]SH OUHWG
GNCOQG ]OLJ] LSWO [IHJ\N ]CI ]QHUO PLTNS ]HL[JC JLSG PC RL\[HLG RLDHE ]Q DGUD PCH
RLDHT HOLWC PO\QH HW\ T[ M\G ]UFO PL\[HLG RQ RLDHE RLCH TH]H \C[O LQ[EF CSLF
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RHIJ GNCOQG ]OLJ] LSWO [IJ\N VC PL\[HLG RQ GDHE ]Q HOLWC RN PCH HLOU MQHT\ GCSG G]HCD
\H[LWD JU ROGO CDKL[G NN PL\[HLG RLDLLJ CDKL[GO\ N\Q HOEN ZD \LC
HFL CTHF [H RL]LS]QF CS] ]UFO PLOUHWG [N\ G]U OIHG PC GNCOQG UYQCD DGUD [IJ\NH
HO GOHU\ OUHWG [N\ LHNLSD ONG PO\Q RN OU H\U\ GQQ []HL DGUD PGO PO\QH GSH]J]G OU
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JLH[G\ \[WGG ]C DGUD DLLJ PCG [ZLG PFHZG [LJQD GFHDU G]U EL\GO PLOHNL PLOUHWG PCH
R]HS HSLC FTWG PH\ PLOUHWO RLC\ ON\ PGO PO\O [HKW\ KZS EOEN \LC RHIJD GOIHGG LU
POHCH CDKL[GH RDQ[G RH\O K\W G[HQ RNH GSH\C[G GZLTWG O\ DH\LJG LWO H\U\ GQN COC PGO
PLOHNL PG\ GQ LN PGO DLLJ GI RWHCD VC\ L\[Q UQ\Q\ D]N ECW CJ QHJ G\Q ]H[EC ]H\D
H[KWO DGUDO MLL\ HSLC []HL JLH[GO
OU HFL PC ]LDG OUD ][IJ RLSUO PE G[HQC CTHF [H PLQNJ ]ZHOJQ\ \C[G L[DFQ [CHDQ
PLFHQ POHN GID\ GC[S G[HCNO\ MN OU GQ] P\ CHIJDH CDKL[D UQ\Q RNH HCO PC GSH]J]G
DLLJ]G RLSZG FYQH P]FHDUD HOJG\N ]HDLLJ]G RLSZ G\US [DN LN GSH]J]G OU [IHJG O\ HFL\
CZU[ UH RHLU ML[Y
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IU ROGO R[ []HL CO H]H[LN\Q HO ]HJWO COC
PHON PLQO\Q PLOUHW RLC\ GNCOQD HOLJ]G COC HCO PC HNOG PC ZHOLJ KZS CO PLOUHWD RNOH
Z[ LN GNCOQD HOLJ]G
HKZS MNO\ D]N CDKL[GH RDQ[ H\U\ GQQ PGO PLNSQ Z[ PTLNQ
LWUC ]OJ]HQ H]NCOQ CG]\ GYH[ PFC RLC\ FDCG [DF RLUN LHG \QQ GNCOQG VHED HOLJ]G\N
GSH]J]G OU PFL RLC LNG HCOD ODC RQI [JCO GHQLO\L\ PLOUHW CHYQO OHNL\
HOLJ]G CO HOLWCH RGLOU [NH\ FHDCG [DFD ODC FHDC HSLC\ [DFD PL[HQC PL[DF GQD
RUKQ HC RGLOU [NH\ FDCG [DFD LS]ZH GI RWHCD RL]LS]Q HFLQUG L[G\ UQ\Q RNH GNCOQD RLLFU
RDQ[ FDC[
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PL[WC [U\ ]H\D HIN GUF ]CDHQ RNH RCNOH RCNO FFYQ F ]H[LN\ PL[WC GSJQD P]NCOQ [HQEO P]HWNO R]LS
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M[FD DCN[ FJ LHOG KD\ ]H\D [CDH JOZ
[HIJO OHNL PLOUHW ]HNOG FYQ\ WUC G\U ]HHYQ PHLZ OU ]HWNO ]H\[G FDO GS]LS\ ]HHYQG
H[LDJ RHQQ FLTWQ CHG L[G HI GNCOQ G\UL\ [JC RLC\ PHZQD HEO\ QHJ U RHQQ COC PGLSLD RLCH
GFLDC ]D\G ]HYQ OU GLWNN H]HC RLWHNH
G[HCNO MC GFLDC ]D\G
RLF MLL\ RLC HI GNCOQQ GDH[QG [JC JHH[ OOED HD [IHJ OUHWG PC\ G[HCNO GC[S GI PUK LWO
CO\ H]HC RLWHN FDH LQ[EF CSLF
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PLFQOQ LHSLQ LCFHDH RLSZ YC\ PLD[D G\USG [DF HC@ RLSZD HQYU FDUL\ ODC RLSZ COD GI ONH
M\U MN OU H]HC PLWHNH [HIJO OHNL HSLC >IW \JSQ G ]HC QN[F U PLD[D G\USG [DF D\JS FNH
PLFQOQ ]]LD\ RLSUO \HUL IW GQO\ ]JSQ CZU[ P\D \]WH FZT
UQ\Q VTHL LZHQSGH R[G RDQ[G L[DFQ IHI PL\QJH PLUD[C FU RGLOU [NH\ GQN FUH
[]L GOU ]H[LN\ P\ GFHDU PHLO GI PHNT FU\ PLQNJ H[UL\ MN\ CZHFD PL\QJH PLUD[C
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FYLN UFS CO HSJSCH PQHZQO OIJ HUDZ MNH GIO HQYU FDU\ COH MN OU ]H[LN\ P\ RLC RNQ
PLUD[C [NIHG\ GQH FDCG [DFD VLTHGO LSHSLD RWHCD OLE[G LWN UHDZO ML[YH HSLSQID UHDZO
LWOH GNCOQG FDHN LWO UL[NGO RLF ]LD ON ML[Y PL\QJ FUH PLUD[CQ\ \[WO ML[Y PL\QJH
G]HDL\J
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GIQ []HLO RLFG CHGH CZHFD COH CQIHE RH\O HI\ HSH\O M\QGQ RNH G\UQO GI ZL]UG\
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[QHO ]LDG OUD OHNLH ZWT GI L[G GNOGO\ GC[SH
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M\GH UQTG P\ HZTW RNH PFC LSD ]UF FQHC LWO ONG PDQ[G
KZS\ MNQ ]QHU[] COC RGLOU HO RLC HOCQ [HN\H CY [QCH [HN\O PLOUHW P\ \L ODC
[NH\G RLD GID G[LWNH GSUK \L PCH [HN\O PLOUHW \L\ [[DOH ]HC[GO OUHWG OU\ UQ\Q HI RH\O
CDKL[ GLC[ CLDGO PLOUHWG OU PLOUHWO
OKD OUHWN COC RGO CSDLGL GHG CO LCHG CSC HOLC [QC LDLDJ GLO [QC D[F GLQZ CS] LS]
P\ L]LLG HOLC
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[ L[DF ]QJQ CS]G L[DF OU GQ]\ HGQ FHUH "GI ZTW HO GC[S RLC\ GKH\W M[FD [QC CO UHFQ
"[DFD ]ZHOJQ RN]L] CO LNH CLLJ
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PN[N\ PNO ]]O DLLJ LSC\ CO PGO [QHCH PO\Q P[N\ PGO R]H CY
D[O CLLJ [ [QCH JO CHG\
PNO []HHQ CLLJ LSC\ COC
[H[LDD ]CI UHDZO \LH PLOUHWG FES CHG GNOGG ZTW D[H CLLJ [ HSLOHFE O\ P]KL\ LGHI RNC
RLFG ][H\Q PLSWO HEGSH PQYU OU H[LQJG PLQNJG MC GOZ] LFLO HCHDL CO PL[JC PLSLLF\ LFN
[QCZ LNG
RNSLQ L]ND CT[EG CLG MN\ LQO\H[LG FHQO] PU HSFHQO] L[DF PLLZO \L ]QCDH
R]HS LSL[G [NH\G CHG LSC\ RHLN [QHON OON HGO CSDLGL GHG CO LCHG CSCF HCO LC LDLDJ
PL[HKW RLFG RQ\ PEG PN[N\
CFDHU LOHCH H\[WO OHNL LSLC
[LUQH RNSLQ L]NN PLT[HEG FL LD]N FHU CLDQ PL[WHT LZHFZF OUDH
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MH]Q >HG QD
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PL[HQC PL[DF GQD
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CDKL[ OLUOF PLSLFG [C\D HQN
PUKH HCO PC \QCQ [LLT PC ZHOLJ \L GOLOD PLQ\E HF[L\ RWHCD PE\ PLSH\C[ GQN L[DFD [CHDQ
RZOJ ]HF\ GQN HO \L\ [DHFQ L[LCQD [CHDQ >P\EG RLSUO PHON OLUHQ HSLC H[HLT COG@ [DFG
OLCHG HO PL[QHC OHQ]CQ H[LLT CO PC RN OU ]HLHC[ RZOJH PLQ\EG LSWQ GFHDUO G]U ]HLHC[ RSLC
\[WQN CHG L[G H[LLT PC ODC CHG MO\ GI FTWG G\L[JO ]HLHC[G ]HF\ MO \LH GF\ ]QLLT COH
PHON HLOU PGO RLCH HI GF\O
IU VF
GI\ L\[ RH\OQ UHQ\O \L PLOUHWF CFLTW L[HEC [LEHCF RCQ LCG PLOUHWF CFLTW PH\Q HGI OUHWG O\ FTWGG GH\ GFLQD OUHWOH PLOUDO LHWY\ HC LHWY HSLC\ [DF OND\ HS[QC\
R[G D]N RNH H[DJQ CLYHQG CHG LN GSH]J]G OU OUHWG O\ HFL MNO HO POL\ CO ]LDG OUD\
HFLTWC HGSLC HS]C COH [JQO GD ZW[QO CLIJ CO GOLOD C[KQ L]C LCF PLOUHW HUFL\ RHLN\
]LDG OUDQ CLYHGO CD OUHWG\ RHLN LNG HOLWC LS]C COH GI UFL RN PE ]LDG OUD\ WUCH HGL\WSC
FO\ QHJ [HKD GNH GSH]J]G OU HFL GSHLOUG OU OUHWG FL H[N\ HO POL\H PLFZG PC KN\ R\FG ]QH[] LWU P\ G\Q LN[FD D]N GI LWOH
H]TLW] GOLUHQ TW] OUHWG\ COC H[N\ PLFZG CO PC RLFG CHG\ [HKG L[DFQ ZLLFO D]N\ LQ \LH
GI RLF RLC\ MN OU PLZOHJ PLZTHW GQN POHCH RHQQ ZWT ONN CHG L[G GI RLF\ RLDGH HUZ CJ DZUL ]HD\
OU ]OKHQ ]HUSHQG ]HU[HCQG ]HL[JC IC Z[ H[N\ PLFZG PC Z[H RLFG [ZLU MN COC ZWTG LSWQ
]HUQ R]S\ RWHCD COC [CHDQ CO R\FG ]QH[]D RNCH FHUH P\ RJO\G MH[U FO\ L\ KW\Q L[DF U \[WO PLOUDG
PLDLLJ PLOUHWG GI PUK COO\ UQ\Q GOLJQH LHYL[ PUKQH
GSLQ CJLSF C]FLDU GLO ]LC LC CQHLF CEOWD C]FLDU PLO\H C]FLDUO L[HEC [ECF RCQ LCG
PO\ PHLO P]TD H[N\ PC ODC ]QLHTQ GNCOQ OU HQU ZTW\N CZHF PLSH\C[G HD]N HGO DLGL
HSLC GI [DFH HI GFDN GNCOQ HO ]]O GLG OHNL GOLJ]NOQ PE L[G\ GFLDN GNCOQ HO ]]O OHNL
CGO\ PLZTHWG NNH RDQ[ GLC[ ML[Y
UYQCD G[QEO ONHL\ HQYUD JNHSH RNO PFHZ G]HC GC[ OUHWG PC PE ]QLHTQ GNCOQO H[N\\NH
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OUHWN@ PHLG ON [HDU HO PO\O DLLJ PO\ PHLO H[NH\\ ]H[LN\G ]U\D \[LW DGUD\ ON PHLG
IK UH DZT UQT G]HQN GNCOQ HO ]]O HC >OKD
ON ODZQ OLE[G RQIG PFHZ H]FHDU PLO\G\ RODZ ODC RQIO [LN\D RCN [QCSG ON\ KH\W
HN G[UG DL Z[W R\HJ LJ]W H[N\
LFDU CO LCF CIHJQF L\HONCD CD[ [QCZ LN C[KQ C]CH COHHFO L[HEC [LEHCF RCQ LCG
CFLTW GOJF JLN\ CO LC FLQO]G GOJH HSDO FQOQ [N\\ LQ OI OCHL HSLD[ ZTW RCNQ
L\OJ
JLN\ CO LCH FQOQF CFLTW FLQO]G RLSU [LNQH C]QD FQOQ JLN\ LC GOJF JLN\ LCH FQOQF
LTHONHCO LQF G[H] LFQHO ONF OKD OUHWN COH PO\Q H[N\ GLO DLGLH DGUDF CFLTW C]QD
\C[D CDHQ PL[DC FDHNH GJN\ PGO P[HE GOKDG\ CIHJQF
PLNSQ\ COC H[N\ ON HO DLLJ PYUD\ RHLN OL G[HCNOH PSJD PL[JCO FQOO HC HQYUO FHQOO OHNL COG GQ] L[\C ]HGEGD
HO PLNSQ RLC MWGO COC MND GCSG HO RLC\ RCN OKD D\LH HO HNSL\ RNHQ GLG\ GQN H]ULELH HJ[K ]NLTJD GSGS\ GQ HO
PHON
PL[LYQ COC POHKDD PLSGS PSLC G[H]G LFQHOH
C RDQ[O ]HTJHLQ ]HDH\]D D]N GID CYHLNH
]NCOQ ]H\UO PFCO HO JS CGF LHG CIHJQF L\HONCN CGF
JU TH]G LZHQS P\D CDKL[G RH\O HIH
FQOQ CHG\NF HQYUO FHQOL\Q PL[JC PU FHQOL\ HO CHG DHK []HL PEH GSQLG OKDLOQ PLQ\
RLSUO H[QC\ GQ PE
ZLTG VHTDOH C]LCFN []HL ]QLLZ]Q H]QNJH FHQLO ]HYQ G\HU PL[JCO
LWNH FLQO]G CHG\ GQ LWN ONG HQYUO FHQOL\H OKD GLGL\Q PL[JCO FHQOL\ HO JHS LN FQOQG
RLSLLFG ]HC[
OND\ FHQLOG OHKLD LSWQ PC FDCG [DF
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H[QC\ HQN [DUD FQO\ GQ PE FDCQ PHLG ]OKD LU\ LSWQ PC FQOQ HSLCH FHQLOO LHC[G PHL
HD MLSLU VLU]G GEN LO\Q [QCS RNH MDIUC PLQHL PHL LSDIU] PC
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GHYQ GSLC\ PLQUWO \LH MN ON DHLJ HSLC\ LSUG O\ ]HDHJ ][IJG RLDH GOHFE GHYQ CLG\ ]LDG
LLJ ]JHH[GO COC R]S CO\ R]HSG ]UFD CSFQHC RCN \L\ GID PLFHQ PLQNJ VC\ GC[S RNOH OON
DSZ CJ G\Q ]H[EC ]H\ H]LD LSD
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GI ONQ [LNIG CO G\Q ]H[ECD\
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JW CJ QHJ QEC UU
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GLG MOQG LFED [QH\ CNOQF C]OLQD ]ZIDC HGO [QCF CHGG
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PO\O DLLJ [NH\G\ EZT L\ KW\QG ]HDL]SD D]N ]H[LN\D RQI ]WTH]O M[YS H]LLG\ LFL OU PCH
[D]TQ RLC\ MN OU ZOJ FL P\ RJO\G MH[UD POHCH HO\ HGF\ GWJ]TS\ RHLN VTHSG RQIG OU
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G G[UG E Z[W ]H[LN\ CKLO\ LHOD LL[EO R\HJ
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MC GDH[Q RQI NC\Q RHQQ FTWGN RHFLS HSLC KUHQ RQI\ PH\Q CLG GDH[QO KUHQ RQI RLD ZOJO C[DTG\ GC[S LN [NLS
G]NCOQ DH[ ]ZWTQ GSLC PC\ [\WC POHCH [LN\QG [HKW MN O\D ]H[LN\G ]C ML[CGO M[YS\N VC COG ]HDL]SGO
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PDQ[G ]KL\O [CHDQ RNH@ TH]G ]L\HZ DH\LD CDKL[G D]N MN RNCH L\QQ FTWG RCN MH[N\N VC ]QLLZ P[E MOIQ
TH]GO VCH ]HDL]SG ]KL\O GLC[ HIH RQI FTWG RLSUO RLFG CHG\ [QHO \L NCH >GH[LIJL CO PC PE PO\Q H[N\ R]HS\
H]NCOQD DHNLUQ GU[E [JC [HQJ ][LN\\ [\WC LN CNWLC JLNHGO RLC\ RN]L PLZOHJ\
KU VF
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CQHL [NQQ ]H[LN\
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LEN ZD \LC RHIJ LWU ]H[LN\G ON PO\O DLLJ GUDK PCH
GZ ROGO CDHQD UU ]H[LN\G RQI MH]D ZHILS\ [N\HQ XWJ RHFLSD FHU
L[GH@ [HN\OH [HIJO GJ[LK HO \L\ PEG GL]FLDU LCQ ]HQHU[] L[HECO JLN\F LC LQF LNLG
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C[]D C[HFGQ >]QHU[]O PHZQ \L [NH\G [NQ\ LWO ]QHU[] HO RLC [LN\GO CYHQ\N\ DUD ROGO M[FG LYJD GZ[W\ GSLWT RLSUO VLTHG\ P\ RLLU@
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OLUO CDKL[G D]N RNCH P\ CDKL[G XH[L]DH CL\HZD HQLFZG [DNH REHGN CO\ [DF G\U CO [NH\G\ LSWQ ]QHU[] HO
G[N\GD OHWLKH J[HK ON RLC\ VC CSZTQO\ COC@ RN X[]O M[YHGH HO G\ZG RNOH G[LN\GO GSLWTG OUD OU\ ROGOH GLSLQ
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DYH J[HK LU COC CYHQ HSLC\ HY[] CO UHFQ G\ZG\ [LN\QG OU OKHQ J[HKG\ ]HK\WD RLDG\ UQ\Q CEO\ M\G
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DYH H]OKDD MTHJ\ M[FG
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[NQ L[G\ ]H[LN\G ]ZTWGO ]ZFYHQ GDLT HO \L\ RCN CZHF OKD OUHWN PO\Q\ ]HKL\G LWO PEH
RLC\N [LN\QO COQ [N\ PO\Q L]H[L[\ RWHCD H]H[LN\ UYQCD [IHJ\ [NH\ ODC H][HJT
PC HO\Q ]LD HO RQFIS H]H[LN\ LQL MH]DH ]LD [N\\ RHEND HOLWCH [JCO H[LN\GO CYHQ [LN\QG
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RHEND COC OKD OUHWN
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[HQCN THSC
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C\HS HSLC\ GQGDG OU []HL FLDNQ LCFH GDLN[D FJW HO \LH GDLN[D OLE[ HSLCH GQGDG OU DNH[G
OHW] CQ\ ]FJWQ CLGH GOLE[ GSLCF PH\Q []HL ]FDNQ G\CG DH[G OU RNOH HQYU ]C
[\C DNH[G RQ []HL GQGDG OU OZ HWHE FDHN GLGL RCNOH RCNO PLOE[ ZHTLWD DNH[G ONF GC[S PE
RHQFZ RQID GLG RNH PLOE[ ZHTLWD G\CG DN[] CO\ ]UN CWH[LC EGSQN FJC FYO PGL]\ HLOE[
PLJTWF ZW U UFLHGL RD D\HQ
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PEG QNDH PLSH\C[D U RCN HQYU ]C C\HS LJ
][DT ]\[W]Q GID CYHLNH ][DHUQ GSLC\ HQN GDLN[D ]ULLTQ GSLC
HC\HSO []HL GOZ H]DN[GH ]HLUDKG HL]HDHE]DH HL]HUHS]D ULLTQ LJG\ COC MG HSLLG OZ\QG ]SLJDQ\
UFLHGL RD \\[ U GOZ] GT[NC C]LSLD GSLQ UQ\ LLDC [QC
W VF
GQGDG ]C PLSHHNQ HFL OU\ [QTQ HC RD[F H\C[D \L\ OZQ [ZDG FQOQ
UF[QG CHG C\[W
R]SHGL HSD[H CDKL[ P\ L\[ G[LZFH GYLZU RH\O DOEN LO\Q \ L [ W L LSHUWYN
RH\OQ CHGH
U\W LONG IJHC\ [QHCG ]UFH L[LCQ GOLGDGH LCFQ []HL GD GYUS\ LSWQ CLG UF[QG IJHC ]UL\WH
RHEND [DHFQH GQGDG LOE[D VZHSH MD]TQ CHGH RZSZG ]C PL[Q [\CN []HL GUL\WG HD LHYQ\ LSWQ
FDC[U RZSZG [D\S MN LFL OUH HI P]HSO\[ LSWQ GJ[DH GQGDG GKQ\S\
UQ\Q L\[Q POHCH L[LCQG GKS RNH CHG GNCOQ ]QJQ COC RZSZG ][LD\D GUL\W RLC P]TG RQ\ PL[QHC \L PSQCH
HS]S\Q HFLQUG\ TH]GQ G[HCNO GC[S RNH UOTD F]LG ]HOZ]LGH G[H\G ]HHLU PH\Q P]T G\L[J OND CLG GUL\WG\
CF ]H[LN\ PDQ[G L[DFQ G[HCNO GC[S RNH U\W CO\ RWHCD H\[LW COH C]QLZHCD
PH\ RCN RLC\ RSJHL [F C[QLQ RCN CLDG LCQO L]UFL CO
H[LDJO G[W [NHQG RSJHL LD[ [QC
DZULO ]QC EUYH ]HNLL\
]QC [QHC\ \HJO JZHOO GLG PCG [NLS PGQ FJC VC GLG COH HGQ HOOG RLQHQG ON GD HLG
HLQF ]C JZQG GH\\ [QHCN HJZQ JLD\GO COC RN [QHC RLC HLQHQD MN ON IL[WQ\ LSWQ CQ\ HC
CDKL[ PLQHQ H]HC ON HD HLG PC HOLWC
[HQJ P]T\ [HKW RNQ ]HJW ODC [HQJO RLDZ G\O\ OQEO GCT [LCQ LD[ PH\Q [QHC THNQHT
RDQ[U ]KUHQ ]WTH]D ZHILS HSLC
HSLC\ [QHO \L "[]HL COH M]O OU H]UF COGH ROIE ]LDG OUD ]UFQ [LDUQG ON JU [DHT HQYU [LCQ LD[ COG [QC] PCH
MN OU PLFLWZQ PSLC PFC LSD\ GI KUHQ [HUL\D H]UF OU [DHUN D\JS
[N\ VLTHQ\ HF ]H[LN\ ZTW PDQ[G H[N\ OU PLOUDO VLTHGO DLLJ PCG GI [HUL\Q ]HJWD VLTHG\N PLSH\C[G HZOJSH
]D\JS RLLFU ]KUHQ ]WTH]\ C[DTO ULLTO \L HL[DFQH RLDZ G\O\ [HUL\D COC VLTHQ HSLC\ H[HQ LWQ D]N CDKL[GH
DL
W VF CULYQ CDD
HGSGG QQ L[G\ H[N\ OU VLTHGO DLLJ\ OL [LDUQN HSLC PC VC LN CNWLC JLNHGO RLC PDQ[GQH@ DGUD O\ H]UF OOND
>[]HL
[QHO PLOH] RLC\ [HKW RSD[O G]QH M]O GSLUKGH M]O LYJ OU VLTHL CO\ HQU UDZH M]O ]C\O GLHC[ GQGDG PC POHCH
CDKL[ RDQ[ LWU VLTHG\ GQ OU [N\ HO UH[WO DLLJ\ COC >C\Q LHDL[Q G]Q\ UHFL PC COC@ GI HC\Q ]QJQ G]Q\
GI RWHCD DLLJ]L [LCQ LD[O POHC FHUH
MLCGH [QC] PCH DLLJ RLDZ G\O\ VLTHQ LCH COZ] LN CJWS RS] LHC\QN G\Z [QC LLDC
"GCHD]G RQ RD] PLLOWN MLOHQ [HQJG\ UHFLH LHOE COGH RN [QHO [\WC
MOHGH@ OON RN[F RLC\ PL[DFD HOLWC HO RLOH]H GSH]J]G OU HFL GS\QG ON\ LLDC [DHT\ [QHO \L
ZLWTQ HSLC GI ONH
D]N CD\[GH R[H RDQ[ >RN GNOG RLCH DLLJ GN[FN G]QH U\W\ [QH\D HQUKO
UDHZG POHUO GSLWTD ODC []HL GYQCQH GQGDG OU G\ZQ JWSG ]WTH]\ PLLJ LOUDD COC LLDC [QC CO\ GC[S G[HCNO
EHOW CO PH\Q POHUO OZ\QO JWS RLD HH\G\ [QHO [D]TQ RLCH JWSG COH OZ\QG CHG
HH\G\ ROGO UQ\QFN J W S D PL\O\ LZOJ FJCD UDZS CHG POHUO GOOED DLLJ]Q\ ]WTH]G [HUL\ HI GJSG LWO PE MC
PGL]HFLQ PLQNJ
JWS ]WTHG [HUL\\ CD[ ]KL\
]WTH] LHG CJWSH COZ] LN COZ] RS] LHC\QO G\Z [QC CD[
PC ODC DLLJ RLKJ RLDZ E VLTHG PC RLKJ M]O [HQJ LHC\Q RHEN OZ\QG ]WTH] PU D\J]GD GS]\Q GLOU DLLJ]Q\
GIQ []HLD VC RD] TLQUG PCH RLKJG OZ\QO OZ\QG GH]\L IC\ GCT ]WTH]D COC DLLJ HSLC RL[HU\ TLQUG
E ]WTH]D DLLJ RN PE RL[HU\ HQU UDZ\NH RLDZ E ]WTH]D DLLJ RLKJ HQU UDZ\N\ C[QED [CHDQ RN LW OU VC PSQCH
PLSLQG OND JWS O\ GH\ ]WTH] [HUL\ HUDZH PLQNJ HZOJ CO\ OYH PLKJ O\Q KUHQ POZ\Q\ WUC RLDZ
GI ]QC RHLTSG\ COC ]WTH] JWSG GLGL MLC OI PLSH\C[G HGQ] COZ]N COZ] LHG HOLWCH
HZ EJ XD\]G RH\O HI
GQFC LFDHU LO HFLEG\ HQN
RLDZ E GD \[HWQ\ CWLTG MH]Q GC[S RN\ RLDZ ]\O\ HCO LCQ DLLJ HC\Q OU VLTHG PCH
CDKL[ C[QEG M[F MNH MHQTD\ CL\HZNH
CGL GQOH HQYU ]C GUKG CHG PHZQ ONQ [QC] PCH GLO KLZSF CHG C\OHJ [HDT CHG
DU
OU MQT\ LSWQH ]QC HO [QC\ [HDT GI GLG\ ]HUKG HO P[E [NH\G\ LSWQ [QHO \L "HLOU DLLJ GI
GWL HSLC\ CYQSH GWL CHG\ HO [QCH LSJOH\O [SLF GC[Q RLFN [NH\G O\ HLYJ GI L[G ZHILS HLW
CDKL[ GID CYHLN ON RNH
H[CD [N\ [QH\ GLOU LHG LIHIC ZWLQOH OULQO LUD COF GL[ECC GLO \LW]F GCSG CLGGD
P[N\D PHON PLTWH] PSLCH ]LDGOUD ]LDD GNCOQ RL\HU PLSQHCG DH[\ LWO GI PUK ]HWTH]D
PLQUW COC CZHF HCO DH[
HD]N\ GQ@ MND GCSG RH[]L HO \L LOND THW]H H]LDD G\HU\ GIH
>GSHGN ]H[Q\Q G[]L GCSG RCN PGO \L RNOH MN PLQUWH MN
GIG ZHOLJG M[YS H]UFO Z[ PSJ [QH\N [NH\ [QCF RCQO COC GI PUKO HN[YHG CO\ GC[S POHC
ZHOLJ RLC [N\ [QH\N [NH\ PLKZHS HSC\ GQ LWO ODC GCSG CLGG
PH\Q [NH\O RQHC RLD\
CZT H\ M\G D]N RN LONG OUD ]LDD HC H]LDD H]NCOQ G\HU RQHCG PC
EL
]UF VTHL
VCH [N\ [QH\N G\US RQHCG RLC ]QCF CDLOC PE PGL[DFOH RN PL[HDT PSLC PLZTHW GQN POHCH
OU ]OKHQ G[LQ\G\ PLOUDG ]H\[D COH H]H\[D GNCOQD G\HU\N COC OOND [QH\
N CO
P\ UQTGH JDG PL[WC GSJQG ]KL\ RN PLOUDG
[HKW PLOUDG ]LDD\ MJ[N OU GL[ECC GLO \LW]F GCSG CLGGD
C[QED [CHDQG PUKG LWO RNH
LHQS [ZLUO GI PUK HKZS PLSH\C[ GQN PSJ [QH\N [NH\
[QCF RCQO COC RN HN[YHG CO\ VCH
GDH\] LJ]WH UQTD U H]LDD COC \\N G\US HSLC\ PLZTHWG ]UFN GC[S GIQ PE\ L[G RDC[ LNF[Q
FHF FL P\
RCQ PH\Q RN HKZS\ [\WCH CZHF HCO M\G ]KL\OH L[LCQD GNH PGL]DD GFHDU PLODZQG PLSODZ \[LW GS\QD L\[
PLSODZ
N\QD PEH C]NOGH CSZTQF CDLOC CZHF \[WO GS\QG \H[LWD L\[ O\ HN[F RLC UHFLN PSJ [QH\N [QCF
\U J\N PHL [LN\\ UQTG ]UFN COF PHL [LN\O RODZ RLD ZHOLJ RLC\ P\ M\G ]KL\
T]J L\HFJH CZU[ UH RLSQHCG ON
CS]G RH\O ZLLHFQ M\GOH
COG DGUDH H]JE\GDH RQHCG O\ HFL ]J] CHG\ LWO COC [QH\N HSLF RLC M\G ]UFO VC\ GC[SH
PLGH\ [\CN ODC [HQ\L RQHCG\ CQ]TD H]UF RNOH H]LDQ MOHG PLQUWOH PL[JC PLSLSUD ZHTU
]H\D D]N RN PSJ [QH\N HOLWCH G[LQ\ ]ODZ RCN RLC\ GFHL M\G PE XWJG PU HLFJL PGLS\
OUD OU HLSWO CD\ G\UQD G[HG GI LW OUH TH]GQ M\G ]JNHG ]C ]HNL[CD [CDH U CJ QHJ G\Q ]H[EC
FYQ\ RLCH\ZG HDSES GOEUD PN[FDH HQU UTS RLCH\ZG OUD PEH RLCH\Z MLOHGO [N\S\ GOEU
OUD Z[\ PHZQD GI GLG LOHC LN ]YZ [\WO D]N QQ MC [HKWH [QH\N HSLC ELGSQG\ GC[S RLFG
GD[G MC [\WO ML[Y RNOH PGLOU FHQUO CC\ PL[ZQG LLHSL\D GS]\Q RLFGH [HQ\O ONL GOEUG
GOEUG OUD FY ]DHKO []HL
CW VF
OCH\D [QHO HSO \L RN HQN RH\C[G HDHLJD FQHU RLLFU RCN\ P\N \H[LW [N\ [QH\ HL][QE CG
X[W HSD[ TH] GLOU OCH\ GI [C\S RLLFU H]OC\ LQL HON\ PLOUDG HUFL HOLWC GOC\G LQL HON\
G[HCNOH ODZ\ GCSGG LSWQ PLQLG HON\ [JCO [N\ [QH\ G\US OCH\G\ ROGO H[QC\ LW OU VCH
RLC\ PGLSLD ZOJO ML[Y HO G]LG\ GCSGG LSWQ [N\ [QH\ G\ULL\ [NH\H RQHCD PE RN [QHO \L
\\[ LWU HOC O\ P]CSGO OCH\G O\ H]CSG GQHF
\\ G\US\ VHTDO HZLTG\ C[DTO ]LJS CO G\ZQG\ GC[S LN C[QEG ]OC\ OU ]DTHQ GSLC \\[G ]L\HZ\ GC[S C
H]H GCSG G]HC LSWQ [N\ [QH\N PGLS\ RLF\ [QHO PHZQ \L LCFH COG LN G\ZQ GLG CO MNO ]LJS RNC PC\ GCSG CLGGD
HSLF H]OC\ LQL HON\ OCH\D HOLCH PSJ [QH\N HSLF HL][QE
D\ RLFG ]SZTQ OU ]H\ZGO \\[G ]SHHN COC LFLQ G\Z CO
]QCF CDLOC PGLSLD ZOJO HSJ[N OUH [N\ [QH\N
\Q]\GO LC\[ HSLC [DN\ PEG [LIJG CO FHU ON MNOG G[IJGG DHLJ OKHQ OCH\G OU VTHS ZHOLJO PHZQ \L G[HCNOH
OU\ RQHCH [N\ [QH\ NC\Q GOLC\G ]CSG LSWQ [N\ [QH\ CHG MNOG H]OLC\ ]DHJ ON RLLFU PLO\G CO H]OLC\ G]ONH
DYH GSH\C[G G[LQ\G L[QEO G]ON [DN\ PSJ [QH\N COC GI RLC XWJG ]JZO CHDO PLOUDG
G]Q PC [HKW GI L[G G]OC\ LQL [JC G[LIJG PC ODC G]OC\ LQL MH]D G[LIJG\D CFD
DE RHFZWH GOLC\ PDQ[G OIH
[JCO PE DLLJ OCH\G ]LDD G]Q PC\ UQ\Q HSH\O ZHLFQ [N\ [QH\N CHG L[GH GOLC\ RLFQ ]CYL G]OC\ LQL [JC\ M[FD
H]DHJ PLLZQ CO FHU ON HLDHLJ RLSUO H]OLC\ G]ON CO RLLFU\ G[HQCG C[DTG LWO [CDO RN]LH L\[N COFH GOLC\G LQL
FL
CW VF CULYQ CDD
OUHWD GLOU OCH\ HSLC [DN L[G\ RLTSHCD DLLJ HSLC GJO\H HLOU OKHQG G\U PC QQH DL\GO
GSJQD [DFD RF [DNH MN OU HUFL PLOUDG\ RWHCD COC H]OLC\Q F[L CO GOC\G LQL HOND\ GC[S L\[ L[DF ]HUQ\QQ D
[J\G ]OLCD UUH EN PL[QH\ PL[WC
HFLD XWJG ]C DNUQ\ GCSG G]HC PH\Q [N\ [QH\ RQHCG G\US MNO\ ZOJO \L COG C[QEG ]L\HZ OU HOC\ TH]G E
PC PSQC@ H]NCOQ [QE\ [JCO COH [N]\Q\ GU\D COC GOLUHQ HI G[DT RLC\ H\[WH OLUO H[QC\ HQN H[N\ OU RHN\QN
DZULO ]QCD U P][DT [HCDH >CO GF] [N\ [QH\ LHG H[N\ ]C ODZL\ FU RHN\QN XWJG [LC\Q\ \H[LWD ULFHG
[J\G ]OLCDH
GL[ECC TLW]F GCSG
][DT [DHT HSLCH OLUO LS\G XH[L]N [DT G\ZQG RNC\ HY[] W[H]H RDQ[GH
GOC\G RQI MH]D HOLWC PLOUDO PL[LIJQ\N P]HL[JCQ PL[KWS [NH\H OCH\\ KY ROGO RCN PLSH\C[G L[DFQ UQ\Q F
G[LQ\O P[ZLU RLC\ [NH\H OCH\\ [QHO ML[Y RQIG MH] [HIJO OHNL HSLC [QH\\ FDC[G ]KL\O PEH@ P ] Q N T G C O O H
C[QED UQ\Q MNH >CDKL[D \[HWQ RNH \Q]\GO PLYWJ\ RQIG M\QO COC G[LQ\O HFDU]\S CO\ GSH\ PSLF R]DHKO COC
G[LIJG\ [JCO\ UQ\QH OCH\G ]H\[D XWJG FQHU OLC\QG FLO CD CO\ FU\ G]OLC\ LQL MH]D GS\QG ]C HFLQUG L[G\
INEN ZD \LC RHIJ GJO\\ OON HUFL CO PLOUDG\ M[FD GFHUF CLQHF PLOUDG HQLNTG CO\ VC [HKW HO
GI K[W HSULQ\G GQO GQL] CYHE FJH ML[C FJ CJ[HCD HETQ CZ HHGF L[] LD HGSG
DU
GSGS DNH[G\ RN]L COGH CLG PLOUDD GOLC\ LCQC
CD[O PL[QHCG L[DF D\LLO LFN [QHO \LH
PG PQYU ]DHKO COC XWJG OUDO GNCOQ PL\HU PLOUDG RLC NCH OD[TD GTN]S\ GWOJGGQ
H\ZG\ HOC COGH@ PLOUDD GOLC\ RCN RLC MOLC\CH LSOLC\G
D\ PLSH\C[ FHUH L\[ L[DFNH PL\HU
OU H\ZG FYLN NCH HLOUD ]UF COD JZO\ VHTDO [[DHG L[G\ H[H\CO G\UQG HUFL CO CD[O
UHFL NCH XHE GIH MH[C GI\ HSLLY RN OU >FEDD DNH[G VKU]S\ GLG MN GLG\ G\UQ CQ\ CD[
HD ]HTN]GO OD[TG MH[CG JZO CO\
RLFTG [[ES MH[CG RLFTD VKU]G XHEG\N LN RLFTG ]C PLQG HWK\ FYLN \[WO CD\ [QHO \L FHU
PLLJ ][H] LWU PLQG P[I HWK\ MNOH HL[JC
]UFQ CO\ OCH\ GI L[GH GLD]HC GL]UF CODH GLOZ\ GL]UF CODF C]OLQ LCOELC VHTO
N PLKHZO QHJ CHIJG ]GEGN CDKL[ HQU HLOUD
D [HKW HSLCH
HSJ[N OU COC GS\QG ZHLFQ CSHG D[O G\ZLL RN PCH MLSWO JSG CSHG D[ [QCFQ GD[FC
FHUH \C[G TH] [QCZ CZHFD HCO PGQ FJCH RCNQ UHQ\O RLC
[YJ OUD ]H\[D TLSNG PC LCS]N CQLO LCQ CQ]T JSG LSWO JSG HO [QCH LO [HQ\
TH] PLSH\C[ GQN HD]N [HQ\O ]LDG OUD HLOU ODZL\ FU DLLJ HSLC POHND [QHC LD[ DLLJ
PC ODC \H[LWD G[LQ\ ODLZ\N COC [QH\G DLLJ]Q RLC POHUO\ PDQ[G RH\O QNH RDQ[ ODHJG Z[W
MND [QH\ G\US HSLC LO [HTQ
P]T [QC
P\ PGLSLD ZOJO \L COG HSSHFLSO RSD[H LD[ ]ZHOJQ RHFLS C[QEG ]CHH\G OU GI LWO OHC\O \LH
GSUH LO [HQ\
HO [QC\ RCN HOLCH [YJD TLSNGO ]H\[ HO R]S COC \H[LWD G[LQ\ HLOU ODZ CO
"G[LQ\ ]ODZ RCN \LH [HQ\
[QC\ HL[DF OU GFHQN CHG\ [\WC JSG
HO
VC\ UQ\Q GIQ\ [HQ\O DGUD HLOU ODZL\ FU DLLJ HSLC POHND
LD[ L[DFQ HZLLF\ LOHC [\WCH
\[HWQD G[LQ\ HLOU ODLZ\N COC DLLJ]Q RLC LO [HQ\
XWJG OUD HO [QC\N
HK
]UF VTHL
PLZTHW PG L[GH [HQCN ]\[HWQ G[LQ\ ]ODZ ML[Y\ HD]N\ TH]G OU ]H\ZGO \L RLLFU POHCH
"\H[LWD G[LQ\ [LNIG CO P\H LD[F PLQNJN
[DFG H\[LW CO PC PE [HQ\L GOG\ LFN [THQ FLZWQG\ ]HJLNHQ ]HDLTSG\ PHZQ OND\ [QHO \LH
PHZQQ [HIJ]\ FU LO [HTQ
H[DJ HO [QCH [JC PHZQO MOHG FLZWQG\N RHEN H][LQ\D GOG DLLJ]Q
[TQ HO P[Q\L\ ]UF OU\ PLJLNHQ PL[DFG\ >
LO [HTQ
P]TD HO [QC\ OLE[ G[ZQQ LZHWCO@ LSHOW
[HQ\O H]H[\WCD Z[\ H]H\[D TLSNGO HO [QC\N RCN VCH [HQ\O FLZWQG ]H[\WCD RLC L[G\ HO
P\ JGHYZDH DCY[ CQ[GH [HKG CLDG\ \C[G ]DH\]D UUH C PL[QH\ PL[WC GSJQ G[LQ\ ]ODZ RCN \L P\
EZT
RCN [DHFQ PC [QC] PCH GLO [QCZ MO [KS DL]H JSC CHG L[HKS [D HCO CZH\ CNG ODC
RHEN [QHO \LH "M\HQ\ FU CQOUD [HDLFD DLLJ HSLC [QH\ L[G [HQ\O HO FDU]\S GQD ZH\D
R[ HO ]HSHZ RG\ CKQLTD HL]HQC F MH] GJLSG\
KZHS RCN\ G\Z NCH LLHYSLCO H]LO COF FDOD GCLYQD COH GS]QH [NQD ]HQC F RLSZ HSZ]\ ]HKL\O Z[ CJLS GI G[HCNO
UYH HSZ]\ LQO\H[LG ]C VHTD CLDG\ COC GCLYQD COC HSZ] CO\ PLSH\C[G ]KL\ CLDG L OLUO HOLCH ]HK\WD R[G RN
PSQCH OZQD G\LNG\ RHEN FDC[G P\D CD\[GQ JD ]H[LN\ QQD CDHQ PLSH\C[G HD]N VTHS XH[L]
M\ H]H\[O TSN]\ FU GD DLLJ OCH\G RLC\ IQ\ QHJ RO CQLLZF C]NOGF CDLOC HSLC GI XH[L]
P\ ]H[LN\ MOQO GS\Q UH FZT CY[
GNL\Q COD VC PLDLLJ]Q PL[QH\G\ RCNQ HJLNHG CUT KY TH]GH
C]OLQ LCOELC VHTO VLTNC GLDLLJ CD[F GLQZO C]C
[ELC CDLZU LD[ RHCEG QNDH P\ RLLY [DNH KN RLKED CD[ OYC GI ]QEHFN G\UQ HSLYQ
VHTDOH VLTNLCH MN OU HGHOC\H G\UQO GC[HG C D [ G[HG PGD PLWTHS ]HQHZQ G\O\O
G]LQCO H]C[HG G]LG [DF O\ H]LQCO\ C]OLQ LCOELCH U[LC\ G\UQD PLHTQ K[W [[DHG
C[QED [NISN HFLQO] CWW D[ OYC U[C RNH@ PL\UQ GUD[C P]HCO RFLF G\UQ VLTHGO \LH
CHG [DF COGH >OLUO
[CHDQ RNH CQHL T\G LKHZLODH PLKWH\ ]\[W CJ JHOL\G LQ U C
YLDILCQ LD[G [CD RLSUG ZQHUH
PL\SC LS\ OU GN PL[FSD C[QED [WHTQG LW OU I GC[ ZLFY L[W OYI RGNG Y[G HFLQO] OYC
UD]SG CD\NH [Z\D OND GOG [WNH ]HUQ H[DJ ]C UD] FJCGH CD[ LSWO RHFO HCD\
IE[ HNH]D HLG H[DJ O\ HL]HUQH HLOU RU\S GLG\ GSZG ]C HSLF OUDO [TQ [KWGOH UD\GO
CLSZ
C[QED HGHC[Z GI G\UQH [HCO ]QCG GCYLH ]HUQG HNW\SH GSZG ]C [D\H GOG
LOON LWN ]QC RLF LW OU HLG\ FDOQ HLSWO HCD\ PLSLFG\ CD[ GNI\ RLSUGH C D [ F
GLG RNC RLFD LCNIG\ PLQ\G RQ HFLD HULLT\ HSLLG H]LQCO ]QC
N PE H[[D]G GNOGG
VHTDO GOE]S ]HUKD CD[ G[HG\ GOLJ]D GQFS GLG\ ]HQHZQ P]HC OND RNH L]LQCG LCNIG
U VLTNLC
G RLSU OUH ]QCF CDLOC GNOG [DFD O\NS CO\ R]]LQCO
]HC[HG HOC HLG\
P\ ZLFY L[WD
G[H] RLFO PLQCH] PG [\CN PE PHNUG LSLFD RHFO G[H] G[TC\ PUKG GI\ P\ FHU D]NH@
PGO RLC ]QCG OC RLHNO HI C]ULLT\ LWO
IK
DW VF CULYQ CDD
KD\Q CD[ GLG GC[SG LWO MC
GFHGL KD\ GD FJLL]S H]LQCO ]QC RLF
RHFO HI GSHN]H
RF\ HO [YLQ GLGH DLLJ ONG [WHNG GI\ CHG H]LQCO ]QC RLFG\ \LE[GH JL[Q GLG\ CFHGL
CDLOC C]]UQ\ LO ZLTCH CLSZG [D\S\ CLQ\Q GLO LU]TLCH H]LQCO CO ODC ]QC RLF
>RQC HSLQLD G[GQD FHF RD OYC GI [HC GOE]L CHDO FL]UO\ FHU \U C]NOGF
DW VF
C]Z GLO JSCH GL[DJO LIHI CWOC GLWIHCF RCQ LCG OCHQ\ [QCF LEOWLQ CZ OCHQ\FDH
]HUHD\D OCSSJ HSD[ ]T[E LW OU \[LW P] HSD[ LIHI CWOC HFDC COEQF C]Z FDC HGLLHOLU COEQF
ON ]C FDCL HSHN\Q HO [LIJL CO PC\ RN ]SQ OU HODZQ CHG\ \[LW\N COC [DLF CO OCHQ\\
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G[QES\ \HO]D RN HSZ]\ HSLYQ COH H]NCOQ G[QES CO\ [DHJQD RN HSZ] UHFQ D[O PUK R]LO ML[Y PLQNJ ]SZ] HI PCH
GI OND DYH ONCL\ HSZ] CO [\UQD DLLJ]S\ LWO [QHO \LH H]NCOQ
RQ CO PLONHC RSLC PLTF[WH ]HSE L[QH\ ODC ]HQL[UH ]H]LE L[QH\ COC HS\ CO [QC OCHQ\H
COD HOLWC ONHC ]HQ[UH ]H]E L[QH\D [QHO PLQNJ HC[ GQ [QC] PCH GSLFQ ]HNOGQ COH G[H]G
[QHO \L >ROGO [CHDQN@ G\UQ G\HU HOLWC OON ONHC HSLC GNCOQ [QE PFHZ [DHJQD HOLCH G\UQ
FDC[ LWU G\UQ PGD ]H\UO M[YS PLQUW [QH\G\ PH\Q
L[GH G\UQ
G\[WD [QCS CO\ PEG LQF G\UQ G\HUN HCO [Q\Q LQF G\UQ G\HUN [Q\Q
HSLC OUHWG\ RHLN C[DTG [ZLU MC ]HNOG [C\H RLO] OD RLSUO G\UQDOUHWG RLFN [QH\G RLF
RHFO \L RN PC ONHC HSLC ][JC GNCOQD ZTHUH P[ND CYQS PC ODC ]H[LWD OUHW\N COC ONHC
[J\G ]OLCH GQNJG LSLUQ LWU GOLNC ]HNI HO RLC MNO PQYU ]H[LWD GOHUWN ]D\JS GSLC G[LQ\\
JGHYZ UH ] H [ L W D G\UQ G\HUN CHG PC P]ZHOJQ COC FNH JZWOH MOLO G\UQN CLG UHNO G[LQ\G PYU\ OL ILWOH
CHO\
LWO ONHC FJCH FJC ONQ COC RGQ FJCQ HTL[N COQL CO GI L[G ]HC\ZQ \QJH UD[C [Q\QG
PH\Q HSLSU PCG GI RLF O\ H[FED ZW]TGO D]N CKLO\ RQSLK\ OLC[EO [J\G ]OLC [WTD RHD\J
COC RLFG [ZLUQ GOLNC ]HNI HO RLC CQ\ HC PO\OQ [HKW FJCQ ONC PC FDULFDH X[C M[F ]FQ
RLC\ RHLN NC GSLFQ ]HNOGQ COC ONHC HSLC [QH\G\ OCHQ\ ]UF LWO FFLY [DFG PUKDH GH\D
ONHC\ D[ ]UFO HOLWCH GH\D POHNQ ONHC\N COC GSLFQ ]HNOG RCN RLC DH\ FJC O\Q OHNCO RHEG
L[W HO ]]O PLOUDG PLOHNL LN CZHFD PLHTQ L[W OU GOLNC ]HNI HO RLC\ RHLN [QHO \L G[H]G RQ
FJC ON NC >PLQLHTQ ]H[LWQ CO MC ]HWLG RQ OHNCO ]HNI OUHWO \L PSQC\ C[DTD KZS RN@ HY[L\ ONN [JC
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PL[JDHQ ]JC GC\ZQ ]H[LW\N RLLUO \L RNH "DL]N M\WSN
GD[FC ONC] OC GIQH OHNC GIQ HO [QHO L]L] LGQ [HCD ML[YH
"UHFQH RN GC[S RLC PL[DFG ]QL]TQH GSQQ Z[ OHNCO OHNL PCG GL]H[DJQ
FS
EY VF CULYQ CDD
]HC\ZQD HOLWC\ D]N L[LCQDH@ G\QJ O\ OUHW CHGH ]HLG HO LHC[H RHEG MN [\HLG FYQ\ RHLN [DFG PUKD GC[S G[HCNOH
N\HQNH HEGS\ EGSQG LWN ONHC\ GSLFQ ]HNOGQ ONHC PC CLUDLQ CO RN PC >GH\D POHNQ ONCL\ RLFG CHG RN FJC PFC O\
GOLNCD H]HNI PL\SC GQNO [QH\\N\ [N\S CHG RN ]UF OU D[O HOLWC COC ][JC ]HNI PH\ HO RLC COLQQH \GLCD
Z[H LCS] RCN RLC CQ\ H[DJ O\ H]H[LN\ OU GI UFL COH FJCN POHN HGH[N\ CO\N ZW]TGO \LH GH\D POHNO ZOJ]]
POHN RLD HL]HOLNC ZOJO HO \L X[CM[F ]FQ PH\Q
[N\ C\HS
C[ZS MN PH\Q\ GC[S [NH\GH [N\ C\ HS OCH\GH PSJ [QH\ RG PL[QH\ GUD[C
G[LQ\ ODZQ HSLC\N PE H[N\ ]CL\SQ GCYH] HSG H]HL[JCH H][LQ\ DHLJ LN [N\ [QH\
COH
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PHL PL\O\O JZHO\ HY RDQ[UH [N\ [QH\ HGL[G H]TLW]D GCSG HO \LH OLCHG MC H[Q\O GYH[ HSLC \[LW HOLWC H[N\
PLUDHS HLDHLJ\ PSJ [QH\O FHELSD PSJ [QH\N COC HSLC\ HKZS P\ TH]G POHCH [N\ [QH\N HSLF\ [D]TQ
G[LQ\G ]ODZQ
COH G[H]G RQ CO RLONHC RLC\ CQLOLC RLONHC RSLC LCQ RLONHC RSLC\ HOCH CWLT CQLC
[\WC\ PEG HNHWLGH [DF ]HS\O CS]G M[F PHZQ OND\ LW OU VC C\L[ HSLLG GSLFQ ]HNOGQ
CO ODC PLOHFEG H]JW\H HFDU LU PLOHFEG H]DH HSD LFL OU PFC XYHZ
RHEN@ ZHLFQ RLFG UHQ\O
RLF HSULQ\GO CD\ UQ\Q RLONHC RSLC\ HOCH
LS]ZF RCN GSH\ >
HNH PLSKZG H]DH HSD LU
RLC HNH GNCOQ [QE RLC\ GU\D UZ[ZO [DHJQD G\HUG ODC
[QHO HO GLG HNHWLGH [DF ]HS\O PC\
PLLJ ][H] PLONHC
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GOWSH HID HI GLOE[ HE[]\S L[CHY OU HOU HE[]\L HQN GILJCH MH[LT MHDLT RH\O EL[\
L[LCQ FDC[
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EL
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P\ N\QD UH [N\ [QH\ GLG\ [\WC C D [ H[KW\ CUT
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PLSH\C[G HD]N [DNH M]HJC RD
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GWJL CQ\
H[QC RNH HLOU GDLDJH HOLE ]D CLG\ LWO HLJC ]D
COH H ] H J C ] D ]C C\HSGH
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H ] H J C ] D OU
HSLCH RLF HQU G\HU CHG [N\ [QH\ PC CHG PSJ [QH\ PC DSEG [NHG NJCH TSHCD GDSES
HQU G\HU
HGQH HI GDLSE OU DLLJ [N\ [QH\ COG RN CO PC\ RLHIQ PLKTOD GDSES\ \H[LW UD\S
[DFD MNJ GKL\DH FY[ VHT QHJ JD R]SHGL HSD[ JZ ZDH RCN L\[ U UD\S HSLCH RLF
HO PO\O DLLJ\ FLZWQG PU HQU
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[QHO OHNL RLC\ DSEG PU HQU
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PU JH[KO Z[ COC PLOUDO PO\O [QH\O DHLJ RLC ODC ]C LFLF PL[DF OUD HCO OLI
DSEG HO
\\[ UH FY[ THT UQT PLOUDG [HDU HSQQ CLYHGOH DSEG
HSLC\ LWO DLLJ \\D CZHF\ HZT E\ QHJ ]WG HCLDG GFHGLD UFHSD D]N TSHC HSLC FJC DCI
[HKW PSJ [QH\ RN OUH HSLC GUL\W
OOND PE ODC TSHC
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M[F RLC\ RHLN DCIG RQ OLYGO FHQUL\N HWHED ZIS ]YZ HO \L\N D]N EZT P\ R\HJG ]HYZDH
RLC\ DLLJ [N\ [QH\ ODC PFC LSD M[FN HDHLJ L[G\ [HKW PSJ [QH\ GIN RWHCD ]H[E]GO PL\SC
TSHC GI
LSD\ RWHCD RL]LS]Q FLQUGO M[KYLH CSHHE LCG LND [HKW CGL L\SLC L[KSFND LF [N\ [QH\D VC\ GD[O\ CYL HL[DFOH
PSJ [QH\D PE HS]S\Q GI LWOH [FUG ]C OLYGO LFN HD ]H[E]GO PLOLE[ PFC
L[GH GZLOF RLSUO PLZTHWG L[DFNH TSHC DL\J GQHFNH HL[DCQ [DCO HC OLYQG LLJO RHNLT \L PC\ KH\W GC[S G[HCNOH
RWHCD OY RLHIQ [QH\H RLHIQ PLKTOD RCN HZW]TS\ GQ GI LWOH [DFG HO [HTC VC COC OLYGO TSNGO DLHJQ HSLC\ Z[ CO
DYH Q DJ PL LZLWC UH RN UQ\Q CO L\[Q POHCH HNH HFLJWGOH ZJ[QD HQU [DFO RHEN GSNT [DFD RLC\
FY VF
LFN GDHKO G]LG H]SHHN HOLWCH PLKTOH GLJ LFHFE PHZQO RNLOHG L[G RFGD CNLC L[DE MNH MN
CDHQH GNZ ZL[GQ HD G[E]S\ CHDL\ HO P[E H[HDLF VHT ON VHTH OLCHG DLLJ [N\ [QH\ HFLJWGO
MNO UHLT CLDGO \LH GDHKO G]LG H]SHHN\ ON [HKW PSJ [QH\\ P\ HL[DFQ UQ\QH IE\ QHJ PLZTHWD
P\ LHQSDH DQ OLUOF G\UQGQ
\LH [HKW [N\ [QH\ VC ZWTD ODC CD GLG CO H[HDLF COO\ HSC PLUFHL PC Z[\ UQ\Q FHUH
PE DLLJ\ [DHTH IZT P\ KW\QG ]HDL]SD MN OU ZOHJ\ \LH DZT P\ R\HJG ]HYZ LWU GID ML[CGO
L[LCQD QNH [H[D OS RN
P\ PLLTH H[HDLF COO CD GLG PC UFLO [\WC LC POHUO L[GH ZWTD
COC OKD HCS] G[H]D DH]N\ GQ OU GS]QG ONH CHG G[H]D DH]N\ GQ OU GS]Q LCQC
[HYLZD GNH L[G GF HS ]HDH]ND TH]G GL\WS FDU\ CO C[ZLUQF CNG LSC\H CLG [LCQ [ GOHN
[QH\ ]HLGO FJC ON OHNL GD[G PL[QH\ G[H] G]DL[\ RHLN H\[LWH L\[ \H[WD HSCQ RCN \C[H]D
PLFDU\Q PG MNOH GCSG PLODZQ\ LWO PO\O PLDLLJ OCH\H [N\ [QH\\ GQ FHUH HCS] LWN
PL[HKW PQYU PLFDU\Q RLC\ PHZQD MNOG G\[WD DH]NG ONO PQYU
]HDHJ\ GKH\WG ]HUQ\QG LWN TH]G ]SHHN RLDGO RLC\ JU CJ [CD RLOCQ DLO GL[C [ RHCEG
C[QED RL]UF CZOT
O PHZQ OON GLG CO RN PC\ HQYU ]C DLLJ\ ]LQYU ]HDLLJ]GN R[FE [QH\G
CHG G[H]G DHLJ RL[QH\G LDHLJ PYU COC G[H]D DH]N\ GQ OU GS]Q
RHFLSO HSSHFLS MLL\O
[QH\ G\US CHG ICH XWJG ][LQ\ HQYU OU ODZQ\ GI CHG [QH\
]HGQ\ Z[ HLOU GOLKG\
CGL\ HQ\ ]HS\OH ]HS]GO OHNL RNO HQYU ]ODZD LHO] [QH\
P\ PYU\ RHLNH G[H] H]DLLJ\
[JC [QH\N
G[LQ\G ]ODZ [ZLUO M[YS RLSZG\ CHG [DFG [HCD RN PE RLSZ ML[Y [QH\\ PLSH\C[G ]KL\O RNH
HS]LEHTO PLUEHSG HL[DFQ RCN FU COLQQ PLCD PG PLDHLJGH
HS
FY VF CULYQ CDD
[QH\ ]HLGO HLOU ODLZ CO\ LSWQ [LCQ LD[ RCN GFHQ MNO\ RDQ[GH OCSSJ HSD[ H\[LW GIO GQHFNH
[NHQG NC\Q HJ[N OUD [HQ\O DLLJ HSLC L[GH MO\ [QH\ LSLCH LSWO JSG [QC HOLCNH G[H] O\
HSKQ\] CO\ ]SQ OU RNH HSQQ JZOH OLCHG GCSHC HO \L Q[O GCSHC HLOU HO RLC\ ]SQ OU
RLCYJO H]H\UO [\WC\ G[H]D [DF MO RLC\ L\[ ]SHHND VC RN \[WO RDQ[G FFYH@ ]LULD\
>OON [QH\
G\US HSLC\ RCN NC\Q ]YZQ PLLZOH ]YZQ OKDO CDG LCS]D
[C\D HQN [ H T L C G[H] GD]N CO PL[QH\ ]\[WD\ LWO GSH\ [QH\D GCS]G\ \[LW CDKL[GH
P]TD G[LQ\ PLODZQG PL[QH\\ G[H] GUDZ Z[ 8EL
b COH HSH] OC RNH U[EL CO DL]NF ]HTNH
OON G[H] GFLWZG CO ][JC H\[LW PC ODC PSLF CGL MN
G\Z CO HQYU LFL OU PFC XYHZ
]QFHZG GS\QG OU\ HS]S\Q OU C[QEG ]OC\Q ]YZ UQ\Q FHQUO \LH G[H]D DH]N\ GQ OU GS]Q
O RLSU HSLC H]OLNC ]HNI ][HQ] RHQQ OU XYHZ\N LN LFLQ
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D CHG GFHGL [H [LCQ [ HD HZOJS\ LCS]G HS ]HDH]ND CD\[G ]UFO COGH@ [DF O\ HQUK OU
>G[H]D DH]N\ GQ OU GS]QN D\JS NWUCH L O J Q ] \ ]SQ
[DFG RLC PSQC G[H] HO G]NLI\ H]HNIQ \C[Q HQYU ZOTQ\ ZHOLT
RLFQ OLUHQ P\\ [QHO ML[YH
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GDLLJ CO L[G\ OKD HCS]\ ]UFG OU GOU CO GID OUHWG FYQ CD LCS]G PC\ OLH RLCH\LSD GNHI\
HJ[N OUD ODZO H]HC G[H]
RLF CHG H[ZLUD GI RLF\ RHLN\ H]OLNC ]HNI OU OUHWG RLFD PE RN [QHO MLL\ GL\WS FDU\ CO C[ZLUQF
C[QEG ]SZTQOH@
C[QEG L[DF [HCDD L[G GF HS ]HDH]ND TH]G L\H[LW VCH ONHC HSLC\ OUHW ][H]D F[LO MLL\ J[EG D]N\ HQN LSHQQ
G[H]G RLF COC [HTLC RCN RLC\ OUHW ]OLNCD PE MLL\ C[QEG XH[L] OSG CDKL[G \H[LWO RNH RCN PE PLNLL\\ [\WC
>
HCO
[DFD RLC\ JW OLUO H[QC\ HQNH OUHW P]TO
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HS ]HDH]N ]UF VTHLD CDHQD U G\UQD HSHY[
G\UQO HC LCS]GH G\UQG ] [ L Q C [FTO GSHHNG PC FH ]H\LC FDC[GH PDQ[G HZOJS G\UQO PFHZ LCS]
RLSU OUH
CT RL\HFZD N\QD UH OUHWD
C[DT CG GLO ]LCF GLO ]UQ\ RCQ OKD HCS] H]OLJ]D G\UQ HD \L\ LCS] ON CWLT CQLC
HLOU ZOJH FJC [DFD GFHGL LD[N [DT GIG CS]G\ [\WC L[G\ G[HQE CL\HZ HI RLC [LCQ LD[
CDKL[ VLFU CS] FJF CDLOC FLQUGO [\WC\ PHZQ OND COC [JC [DFD
]C DLLJQ L[G\ G\UQG ]U\D CFL[E [HDLFD PLOJG PLCS] [C\O GQHF HSLC "PL[DFD LCQD
VTND HC RLSZD COC RLFG RQ [HKW CHG\ [DFD DLLJ]Q PFC RLCH HSLFQ []HL HLTNS FDU\QH HQYU
CDKL[H CD\[ GCSGD HC
RLSZ COD PLLZ]Q G\UQ ]U\D CHG\ LCS] ON\ RLSZ ML[Y RLC\ FDC[G ]JSGN FFY L[LCQG POHCH
CO\ RN]L POHCH RLSZ COD VC LF PYUD ODC C]OQF CJHH[O VTHS PUKN FDU]\Q GCSG CLGGDF C[DTG KZS\ P\ UQ\Q
CK\WD P\H RLSZ COD GNCOQ ]QJQ G]QD DLLJ]GO GS]Q OCH\ PCG ZW]TGO D]N HL[DF M\QGD RN\ GI [DF KLOJG
OLH GCSG CLGGD
][DT ]QLLZ RLC C]OQF
IS
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[DF HO GSZQ HSLC L[G\ E DD U CQOUD PL[DF RLSZ
HSLCH GIN RLSZ OJ\ HSULQ\QH HFLQ HSZ\D
FHF FL CHG OLUHQ RLSZ\ RO UQ\Q CZ HO PO\L MNH MN GLGL PC\ COC PLLHTQ
HQYU FDU\Q\ >FHDU\ PGLOU OHJL\ PLTNS PH\ HO RLC PC VC@ HWHE OU RLSZ OJ\ LWO [DFG PUKH
W[H] E DDH FS ]HDH]N TH] LWU CQOUD G\UQ ]LL\U OU RLSZN HSLCH PO\L TSCLL PC\ OCH\N ]HLGO
RCN
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GT[LEG FW RLKED GQC GCQ O\ GSZ LUOD]\ ]SQ OU
RCN \C[D CHG RNH GQC Z RD GSZ LO LCLD]\ ]SQ
FW RLKE TH]
P\ LFL OU [QHO \L "PLLZ]S MCLG GQL] KE GI L[G LCS]G PLLZ]S
H]OLJ]Q HLOU GS]GH HWHTD HQLLZO HO [\WC\ ON LS]ZF CZLF LQS LS]Q ZJYL [D RQJS D[ [QC
RQJS D[ CD GQ PLSH\C[G HFQU [DN GSLQ UQ\ OKD HCS] HQLLZO HO [\WC LC CG PLLZ HCS]
[H[LDD UQ]\Q [DFG G[HCNO COGH CZLF
RH\O HGQH HSULQ\GO ZJYL [D
[\WC LC\ G[H]D DH]N\ GQ OU GS]Q RLFO M\QGN RL]LS]QF CWLT \[WO [\WC GLG\ H\[LW TH]G
LSWD RLF CHG\ UQ\Q >
[\WC PCH
COH@ HO [\WC\ ON
RH\OG ZHLFQ\ COC HCS] PLLZO HO
HQYU
P E H LCS]G HQLLZO [\WC LC\ [DFD GS]G PC\ HS]S\Q \[WO [\WC GLG\ \[LW CDKL[GH
HL\NUQ [DNH HQLLZO ONHL CO\ PLFU HSC LCS]G ]QO\GO RQI UDZ\ LWUC\ FLQ PLOKD G \ U Q G
G\UQG ODC OKD\ CHG LCS]G Z[\ GS\QG RH\OQ ZLLFO ZJYL [D RQJS D[ OQZ PHON HL\UQ RLC
PLLZ
PHLZO ]QLHTQ ]H[\WC \L HOLWC\ [QHO CD CQL] RD GFHGL LD[ O\ HOON\ \[LW PLLJ ][H] [WTDH
ZLLF\ HGIH OKD LCS]G FW RLKE U MLDCOH CDCO LOUD]\ [LIJ LONC]\ ]SQ OU
RHEN LCS]G
OKD HCS] HQLLZO [\WC LC\ ON
RH\OD COH HQLLZO HO [\WC\ ON
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GZHJ[ ]H[\WC \L\N CO ODC PLLZ HCS] \QQ [\WCD CZHF FHQOO \L >C\L[D RH\OG OZ\Q OU@
HOC RHEN
OCH\G
LSLQ\ Z[W
HUDZ\N COC G[LQC LFL OU PL[HN\
PL\US PLOUDG RLC G[LQCD PLOUDH GNL\QD G[W
DU
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PLOUDG ]OC\O G[WG ]OC\ GQFZ RN PC\ GI RWHCD RCN HFLQUG COH GLOC P]NLOGD HC GNCOQG
[QCF GF EQ DD TH]H CW OLUOH RCN CDKL[ LWU GNCOQ ]OLJ]D PGH GNL\QD CLG\
OLJ]G HOLWC HD [IHJ OUHW L[G\ G[IJ ]H[\WC RLSUO GSHHNG RLC G[LQCD PLOUD
H[QC\ GIH
OC[\L ]L[C\
DL]N L[GH HQU HLOUD
HD C[HZ LSC [DNH OC\S
[DN D\JS\ RLSUO COC GNCOQD
R[ [JC RLSZO RLSU RCN RLCH DIN H[DFL COH GOHU H\UL CO
JS
FY VF CULYQ CDD
COC CHG C]UFC ZLOT COF CTSHC RN\ GLHD\D [QC] RO CSQ OCH\D GLHD\ COC
H]UF PH\Q CHG PC RLTSHCD OCH\G O\ HDHLJ PUKD RHFO ML[CG C RHFZWH GOC\ PL[WC GSJQ [WTD
OU HOLWC G[H] H]DLLJ\ HSLC[\ RHLN CQ\ HC RLTSHC ]HL[JCD DLLJ]GOH FDU]\GO HQYU OU ODLZ\
H]QNTGH H]UF PH\Q COH HLOU G[H] GOLKG\ CHG DHLJ GLHD\N H]UF OU GOUG CO\ RLTSHC
RLC COG GI RWHCD GUK\ [[DHG VHTDOH H]OC\ ]U\D HQU HLOUD\ [HDT GLG\ OCH\ GSLQ CZWSH
[QHO ]HLC[ L]CDG\ PEGH
D]NH PLSH\C[G ]ZHOJQD HI GOC\ P\ GO]H ]UFQ ]HL[JC ]ODZ
ONQ H]HC H[KWLH PLOUDG PU HS]L\ FU H]UFQ CO\ HOLWC DLLJ]Q HO\ H]CSG ON OCH\F RHLNF
L]D]N GI ON OLUO L]CDG\ OI L\[H TH]G L[DFQ GC[S\ GQ FES RHQQ CLYHGO JN HSD RLC PHZQ
RHDS PL[WC [LUYG PCS [JDL H[IUD GLGL PG[DCF GL[CQ PD[ HGLS [QH GNOGD R]HSH C\HSN
ONU
[N\[QH\D GD\S
D]NS GQ P\O [QC] PCH [HKWO RN\ [N\ [QH\O GQ M[WQO CNLC
CZHF [QC] CO\ RLTSHC LZHOLJ ON K[WO DH]NG GY[\ [QHO \L "G]QH G[HD\Q [QHJHOZD HSCLDS
FLD ]QLLZ CLG\ GLHD\ ODC RLQHO\] LFLO CD [DFGH P[LIJGO [\WC LC\ DLLJ G]QH G[HD\D
CDKL[ OQZ HO GS[LIJGO [QH\G J[KL\ [QHC L]LLG LCD\
GQNJO ]HC[W[W
[N\ [QH\D GLS\ PSJ [QH\D G[QCS GSH\C[ G\[W
PSJ [QH\ GLGH CL[KQLED [Q\O PLON HC VTN R]L LN
PLKW\Q X[W ]N[D [N\ OKHSH CL[KQLED [Q\O GQGD ONH R]L LN
HOLCH PLON HC VTN H[NIS GSH\C[ G\[WD MNO\ PLDH]NG K\W LW OU UQ]\Q MN\ PLSH\C[ HD]N [DNH
G[LQ\O [TQLGO PG PLOLE[ DO ]QL\H G[LQ\ []L PL\[HF P]HLGH POHWLK OOED\ PLLJ LOUD GLS\D
PSJD COH PHO\]D
C[Z GO D]NH J[K [QHJH OZD CL]CF C]OLQ
HSO\ FHQO] PLFL DJ[ OHFEG PLG GID UF]H OLN\]H RCND CJ[HC DEC LFLFL MULFHC GSGH
CO GQOH "]CI GQOH C[Z GO D]NH J[K [QHJH OZ
D C]LCF C]OQ PLQUW GQN HD CYQ]
CYHLNH DC RLSDDH GH\ G[IED CL]CF C]OQ [QHO G[H]D\ ELG ]HFQG L[C\D ]CIN HSLYQ
CL]CF C]OQ [QHO L\HZ GILC J[NG ]QJQ PLQUWO ZJF OI R[G\ PEG C[Z GO D]NH J[K
GID GS]\L GQO RLDGO LHC[GQH HZ ]FQ Z[ \H[LWD T\D HSLYQ CO ODC HNH J[K \ED
"HZG ]FQD PE HSO GQO GI J[HK PEH ]HFQG ONQ HZG ]FQ
RN PE CLG FDOD HZ ]FQH G[H]D PLODHZQ Z[ L\HSC ON\ LW OU PSLC ]HFQG ON GSGF OSH
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RHLNH HDL\GOH JH[KO [\WC\ PH\Q CHG GDLSEQ OCH\G ]C [HKWO PLCD HSC\ PUKG\ RHLN [QHO \LH
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GI RLC LON HSQQ GOC\ PC G]NCOQD ZHTU HSLC\N ODC G]NCOQD
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GID CYHLN@ GUHFLH G[H[D GJSGN HQU RLC HLOUD
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COC [QCS CO \HFLJ CHG\ HQU HLOUD
RLF PHZQ ONQ HO\ GCSG ON L[G\ RLTSHCD DLLJ\ PEG
PLLJ ][H] LWU P]TD DH]NG [DFQ MND\ C]LLOUQ GOC\D
HD ]HC[GO H\HQL\H HFHUL ON\ KL\N] ODC GD CYHLN ONH G[WG ]C GD ]HC[LO 'OC\
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HQU GLG\ V]H\G\ GC[SH HO PO\O DLLJ\ ZWT RLC LS\G LYJO UEHSD ODC HQU OC\S\ V]H\G
GI HO OC\S\ OOED FLTWGO [JCG V]H\O RLC\ PO\Q\ LYJG H]HCD PHON OKHS HSLC
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ID GOC\ MOQO
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LDE OLUOF ZWTD FYG LWO Z[ CHG HO [\C ]H[LWG RLSZ PH\Q PLOUD
N OUDG ]C DL\JGO PC GI
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DT
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HC GQH[] ]\[WGD O\QO HQN JO\S CHG HLOC\ G\UQG ]C ]H\UO JO\QG ]CQ JN ][DUG
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GS\D PUW P\O TSNS HOLWC COC ]HULDZD HD [HFL\ ML[Y RLC\ LSWQ DLLJ GLG [LN\QG G[LQ\ PUK COHO\ HL[DFD UQ\Q
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L[G P\ [CHDQN PL\[HLG HNI CO ]Q PCH XWJD RLSZH ]HNI PH\ OCH\O RLC ]LQ]T GOC\D\
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O\ RLWLOJN KOJHQ RLSZ GSLC\ LSWQ PC IQ EJ LHOG ]LD KO QHJ OC[\L ]HUH\L U PO\H PLLHTQ RHQQ
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D\JS [LUG EGSQF C]UFCF EGSQG LWN CQ]TD G[H]G RLFQ CHG LQS [LUG LD\H] DH[ PG\ RHEN
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ZHOLJ RLC RNOH EGSQGN CHG\ HS]GN CHG CQ]TD\ EGSQG [JC RLNOHG EGSQ \L\ PHZQD ODC EGSQ
EGSQGN CQ]TD G[H]G RLFD RHFLS HELGSG [LUG LD\H] DH[ PG\ PL[NSG PC VCF HELGSG\ PG LQ
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GI \LC\ UHFL\ RHLN\ P]TD HOYC [N\S\ [JC TL[C LDEO CO VCH GI TL[C OYC CO HD [HIJO OHNL
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HU EGU QHJ G\Q ]H[EC MH]Q RLU
GNSQ ROLCG XYZSH RLUQG \DL GI ROLCG ]LD GF\ HC HI RLJO\G ]LD GF\ LO [HNJ HO [QC PC
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\L RLLFU ]H[LWD ZOJ PLOKHS PLOUDGH OLCHG\ GI GSH\ >CDKL[ ]HUQG U[W CO RLLFU\ LWUC@
FZ R[G L\HFJ L[QEO [NHQG ZO]TS\ [NQDN CO\ UZ[ZG PU ]HNLL\ PGO
JZQ RCN RLCH RQIO [NQQN GI L[G ]HUQ PO\Q\ UZ[Z ]H[LN\D CG ]H[LWD ZOJ PLOKHS\ LSWQ CZHF\ HI RH\OQ UQ\Q
FTWS CO\ LSC\ CNGF ZOJO \L CQ\H OWS\ RQIG FU COC PO\Q HSLC OWSH GI ]LD
[NH\D\ R[G ]UF COG G\ZH ]HUK
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RLC P]TD [NQ ODC GI P[N GI [HN ]LD
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CJL[ R\JG ]HYZ UH\DH LDD
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FZ VF CULYQ CDD
CDKLQD PO\C FLDUC COH [LDHC PC [QHC Q[ CLS]F KHLFG RH\O \[HF GLG [LCQ LD[
RH\OG ]\L[FD RCN \L ]WTH] GQ H[QCS PLSH\ PL\H[LW
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EGHSGQ UFL GI PFC\ UHFL\N CZHF HKZT P\ M\G D]NH PLZOHJ\ PLSH\C[ \LH HKDQ QHJ UH\D
RLC L[G\ D]NS HOLCN H]HC PLSF RLC ]HKHLFGG RN HEGS\ WUC LNG HCOD ODC RN DH]NO ODHZQG
GUHDZ PLQNJ ]SZ] RCN
PL\[HF\ M[FN KHLFG RH\O H\[F ROGOF PLCS]G ON FJC P[ZLUH PLSH\C[G HD]N PLWTHS PL\H[LW
RLSU HSLC PC
D HC GIO GI P\ZGQ HC PL[DFG [H]LQ PC \[HWQG K\WG OU VLTHGO DH]NG RH\O ]C
RDQ[D U ]H\UO LHC[ GLG\ GQ ON ]C COC FDOD UZ[ZG G]JW\ ]JWG PO\Q HSLC [LDHG PC RHEN
RH\O \[HF
\[WO \L GIDH GFDU COH TSCS HOLWC HQYU DLLJQ\ D]N KZT I[ KW\QG ]HDL]SDH ]HNL[CD ZQK\H R[H
RLTSHCD VC HDLLJO KHLFG
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C]NQTC HI RLC\ PL[QHC \L POHCH [\H RDQ[UH OCSSJ HSD[ LWU CLSZ COF C]NQTC CLG\ LCF
D VC DLLJ RNH
OHFJO HC ]H\UO PC [DFG HFLD PEH ELJ ]H[LN\ PDQ[H L\[U GSZGH [QE L[GH H]HDLLJ]GD PILE COH HFLTWG MN\ RHLN
[LDHG\ GI RHEN [HKW RLFG RQ\ [DFD PE ]HKHLFGG ]DL]NO VZH] \L\ [QHO D]N FL[GH FU TH]U
CO\ LWUC\ GSHHNG GC[SNH PO\O DLLJ]S HO D]N\ RH\OG ]QJQ Z[H CQOUD CQ[E COC GSLC HGF\
]HTL[CG LCS] LK[W ]C \[WO D]ND\ PL[DF PLOLUHQ LCFH COG NOC\ PLCS]G LKW\QN RN GS]G
[YJD COC GF N ZD CD\[G L\HFJD UUH OCHQ\ LOHFLEH DLYSG L\HFJDH ]LULD[G GDH\]G GF E CQ[G ]H\D UUH
C[ECO CQLLZ COF
OHWNO HEGS\ PHZQO FHELSD \H[LW GHOQ GDHE GHOQ GDH]N ]H\UO HEGS\ PHZQ
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FHDNO RL\\HJ RLCH
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PLSH\C[ GQN LWU L\[LW ]HUQ\Q RN [K\D DH]NG ON
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LNG HCOD ODC H]H\[D [DFG\ HC GGDEG HC GNL\Q RHEN HG\ON RLSZ ]H\UO OUHWG ML[Y\ [HKD
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RLSZ G\UQ ]HHGO OLUHQ DHJ\ L[G >\U G[H] RLF OU PLQNJ HJLSG RLO] OD OU [HDUL CO\ LFN
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HO [QHO OHNL RLC\ P\ GSH\ HO
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PLU\HWN [C\G PE HI H]JSGD U\W GJLSG\ ONL[FCG\ LW OU VCH GQHZQD GWL GUHDZ RDCG\ JZWOH
[ LWU FJCN ZISG ]HL[JC ]C HODZ POHN JZWO PGLOU PE\ RHLNH HJZW COH JZWO PGO GLG LN PG
GD ZTU]Q CHG\ LFN MH] GOWS ODC RQI [JCO GOWS\N [DHFQH FFW\ RJO\G MH[U OLSHOQ R]SHGL
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