L L O Z[ W F L VF
ML[UQG FJC P]TD ]HSO OHNL GLG D[ [QC GFHGL D[FN RO UQQZ GLJ[HC DEC C]OQ
OC[L OU COC GCS [QHO RLC GLJ[HC DEC ULQGO LFN OC[LD KZSH [HUNG ]CH GCSG ]C
GI LSUSN GCS GQN [QCL PFCO [HTC D[ [QC GFHGL D[ [QCF
JDD [WTL [QHJH OZH H][HYD GI PLDNHN FDHU GCS GQN [QHO HOLWCH RJDD [WTO [HTC RNH
ZDFGO P[HE LSWQ MLSLUD RJ PGO GLGL CO PSJ] COH [QCS PGL[DFQ [DF DDJL HC HLUQ
FL PHNU OG PDQ[G RHO PLU[G HLUQQ FHQOOH HQU
COC [HTLC RLC [WCH GQHFNH H]QNJ RN ONH PLDNHN FDHU O H]HSQHC JDO [HTC GC[S GI LWO
GQHFNH DHK CWH[ HC DHK RQHC CHG HLOU [QHO ODC GI PHNU GCS GQN H[QC HQNH HJDD ZTHUD
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H]HQ [JCO HGI GC[S EN IUDH CO RLHFZ DC FHDLND ELOWG OU GSL]S RD CQF ]C HJDL GIH
N IU PL[HCDH PLHFJ LWU HLLJD Z[ MLL GIH HL[JC MQLGO CHDL PHQ COC [HTLC RLC L[G
PL[JCO GYU R]HSN [DHFQ GC[S []HQ HJDD ZTHU HSLC PC DHK RQHC DHK CWH[ ][LQC RLSUO FFYO D]N GQ C
OUH RN GHU OC[L ]DHKO COC RJ ]SL]S RCN RLC []HQ KHW GI RWHCD GC[SH GID CYHLNH PLHTQ CWH[ OU XLOQQH
FDOD GULFL PO HN[F LWO PL[DF [HWLTN COC PFC ]OUH]O CO HOLWC H]SHHN []HL GC[S RN
RJ PGO GLGL CO ZQSO PDQ[G VLTHG HGIH U[D COC HSLC PGO RJ ]SL]S [HTLC CQ N IUD HSD]N GQD UU D
[WCH DH] [E HSLC PEG ]HHYQ UD [QH CHG PC ODC PLU[G HLUQQ FHQOOH HQU ZDFGO P[HE LSWQ MLSLUD
RJ [HTLC OOND HSLC G[H]G ]SHQC PHQ COH LHSCG [HLG FYQ ]HHYQ I OU [QH HOLWC
[CD]S GQ LWOH HI GNOG HCLDG CO PLZTHWG MN OU H[LUG [DNH PLU[ O RJDD [WTO [HTC H[QC DN GKHTDH
UUH PHNUD L[LLQF P G[HC R[ZDH C[GQD QNH U GW[U RD ]QEHFN L[NS U[ OU P [DHFQG DLLO L
UH PGL[DFQ [DF JDO [HTC RCN PDQ[G L[DFD GOHON HI GNOG L[G RN PCH OC[L OU COH CQ P NQD
PDQ[G O HN[F RLC COGH ZHTWD RJ ]HUQQN LHS RLSUO COC C[QED H[LNIG CO RCN L[G UF] KWQO PLSLU D
HL[DF COC PGL[DFQ [DF DDJL HC HLUQ JDD [WTL [QHJH OZ VLTHG GI GQH C[QED [HWQ HSLC [DF CLDGO
[HQCN U[D COC HSLC GI [HTLC ON HSUQ PL[DFG CYHQQH PLU[ O RJDD [WTO [HTC GKHTD C[QEG L[DF PG PG
U[ GLG CO L[G DHLNH H]FLQ ]EOWG OU GSL]S RD GQF ]C HJD RDHQ GI LWOH
MNQ HS]LEHTQ ]YZ UQQ RNH RN ]HUO RHNS RLC [WC WNUH JDO []HQ G]LQ [JCO JLNHGO RLC LNGO RSL]CFH
RNH C]OLQ GF L[D DGIG RHO ZHLFNH PLHTQ L[NS OU CO PE PL[NS OU CQOUD LHS P [LNIGO GY[ CO CS]G
OC PSJ] CO DL]N COGH HLDC ]C HFHDLN OU HU ]C OIJ HJD UHFQ [CDO FQU E PLHFZ ZLFY L[W [WTD UQQ
RJ PGO R]]
[TLZG FHDNO LKTDT LKTHHT GC[ZH GD[JG RH[QH [LU GSD MOQG THF[HG LKTDT ]HTLF[WD
PL[JC HO HHJ]L LHC[G FDNS LC HI GOQ [HCDH THKTHHT HO PLC[HZ PLSHHLG [C THKTHEDC
CLLWTHQ RLQLSD LD[O MH[UG VTHQ
]C COH UZ[ZG ]C CO LFZG CO GI L[G GI [JC GID RLFZG HC ]HSOLC GO LFZG
GFHW CHGN UZ[Z LFZG MN [JCH HL]HSOLC LFZG HOLWC COC FHU COH PGLSLD ]HSOLCG
DQ
FL VF RLN[U
[DHFQ DU DDD PD[H RCN L[ H[LWO UZ[Z GFHWH [IHJH RGLHHD ]HSOLCG ]C GFHW
GZH UZ[ZG LFZGH [IJ MN [JCH FJC FJC PLFZG HC P[FTN CO PLUHKS RGN ]HSOLCG LFZG
CO H]H UZ[ZG ]C LFZGH [IJ HOLWC COC FHU COH Z[ [QHO HO GLG GI LWO
L[G H[LWD UZ[ZG ]C LFZGH [IJ RHLN ]JC ]DD ]HSOLCG LFZG HOLWC P [G FLJ MNO
RGLHHD P]HC GFHW MNOG PFDO ]HSOLCG ]C COC LFZGO RLHN]S CO GOLJ]Q H]UFD GOE
[HDLFLFNMH]D UZ[ZG LFZG PC MWS GQ LN MND HSCQ PD[H L[ GC[SH EN ]HUHDQ GI RLUNO CQEHF CLDGH
HWHT PC PEH UZ[ZG OU FZGG OJ [DN [HDLFLFNQ []HL GG PCH PLQJ RHDJ LWO ONG GFHWH FJC FZG GI L[G
HWHT [QHO PHZQ L PSQCH UZ[ZG OU FZGG OJ GSHC[ GUQH PL[DF PSLC DOD PL[DF COG MNO RLHN]S CO JLNHQ
]ZHOJQD [DFG LHO] ]UF VTHLD P CDHQD UH CS ]H[HND TH]D GI RLUN U [HDLF LFN [JCO VC H]OLJ] OU JLNHG
PLSHC[G
HL[DF [WH [IJ P DDD CHG RNH ZQKG ]T[EO MNLWO D ZLTWG RHLN GC[S RHOG OU [G GZG GQH
RSLOIC COF HFLJG [ZLUH P]HC Z [ H[LWD [QC RHENH ]JCN ]HSOLC GO LFZG RWHC PE ]OOHN HI CDD L[G FHUH
ROGOFN FZGG []D COC RHLFWG ]U []D
CZWSH GIHJC GFN HLSWO CG] RLSQ HLDC ]Q MN [JCH GLFZGH HLDCQ GF JZHOO RLSQ
GLHHD COH PL[HU [QHJ U[I ]LDO OZ PLQJD ]LFWS CLG GIHJC GFN ]LSHFLS CLG GQD GSLQ
CQOU LOHNO GSLQ CZWS RNH GNOG RN RL]LS]QF CQZ CS]N HKZSH DU DDD PD[H RCN L[ GSZQ GFN
C[GQG D]N RN ODHLD GLOUDO ][IHJ GSZQ GF HOLCH PLSGNO ODHLD ]CYHL GIHJC GF GI RLSUO
UYH QHJ ]WTH] RLSUO QWS RNH P DDD
PFC RLC COGH GIHJC GFN POHUO HI GF FZG OJ FYLN [CDO ML[CG GF PLFDU JQ [HC [WTD
GUDH > HN ROGO RS]FN ODHLD GLOUDO ][IHJ GSZQ GF GDLTG LGHI L[G@ HO HSLC [DF LFZQ
GD [HWJO HO [HTC PEH ODHLG FU RQIO HSQQ GCSZ COC HLDCO ]NLL G]LG PYUD L[G LFZG
JQ RLKE OCHQ [ L[HULD RNH P DD PL[HU XDHZD GZG RNH HNH ]H[HD
]QCD MC OZ PLQJD RHLFW RLSUO Z[ HGI GIHJC GF RLF GO ]]O H[QC GQ [QHO RLC D]NH@
>HSCYQ CO GI ODHLD LFZQO ][IHJ
LHG COH CDCQ [LC HI GF [HNQO [WC ]HDH]NF LWD P] HSD[ ]KL LW OU JQ[HCG [CDH
LFND GHFZ GUZW CO G]U PE RN PC FZGG OJ GI RWHCD LFZG PC RHLNH POHUO CD CO [DF
L[G OHJOQ G]HC DNUQ LQ RLC HLNU L[G POHUO GHFZG GKWH O PL[FSD CFW [D ]KLN
H[HL CHGH ]Q HLDC
GFN GSLF MN OU FHQLO ML[Y UHFQ LFZG NJCH DCG ]Q CTLE MFLCO ]HZGO VLTHG JQ RLKE OCHQ [ L[HULD
]H]LQYO HO CLG L[G HIH HO GSLC PHQ CHG ODHLD PLSGNO ]ZOJ]Q GSLC GSZQ GF PUKG COGH GIHJC
ODHLD PLOUDO ][IHJ GSLC GSZQ GF HOLWC G[DTG FYQ GC[S KGS MHSLJ ]JSQD D]N GQ LW OU DLO GC[SH
RDHQ GI LWO RQIG VHT FU JZHOG FLD [CL] COC PLSGNO CY] CO ODHLG ]SD GS PLO DHYZ RQIO [NQ RHEN
LN POHUO HO ]NLL CLG LWUCH PLSGNO ]CYHL G]LG CO RLSZD HFLO GCD RHLN L[G GSZQ GF ]DJS G]LG HOLC
L[IU LDCD GIO IQ[ [H [HQCN LFZQG O HSLSZD GODEG RLC [CN PE PLSGNO ]CYHL GSLC POHUO GSZQ GF
JSQG L[DFQ MWGO KZS DCL GKLQ CSLS] GSHC[ GSQD P POHCH CF RLN[U GC]LO]
DEC GHZ[WLOH HGLLU[C DEC HFZLOH LCQC RLHHD GFHW ]HSOLC LFZG [Q [QC
EQ
DU
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VTN OZ PLQJD ONG GFHW UZ[Z PU ]HSOLC LFZQG P]TD KZHS C[QEG UQQ HGLLU[C
UZ[ZG ]C GFHWH [IHJH PLHHD ]HSOLCG ]C GFHW [QC CSHG D[N COFH PL[HU [QHJ U[I ]LDO
CSHG D[N ZTW PDQ[G OU HK P GID ELGH GNF RLN[U FDC[G ZLLF RN
LHYQ LWN HNH H[QC HOLCNH@ CWW D[ L[DF MQG OU GDHTS C[QEG ]LHZ X[]O D]N GFH] JDI DH
ROLCG PU UZ[Z GSZ COGH ODHLD PLSGNO PLCYHL PSLC HFZHG ]HSOLCG >TD PLQUW GQN RN
RHO HKZS GQH@ ]HSOLC PU GFO ]LSZL[ GF RLD GZOLJ CO ODHLD ]CYHL GFG G[H] G[QCNH
>RHLFW LOD ][IHJ GSLC PLSGNO PE RLFG LWO PHQ HGSLZ[WOH
LFZG RHEND COC F[WSD ]HSOLCG ]C GFHW CSHG D[ [QC CO G[ZLUQ CLHZG X[]O D]N FHUH
UZ[ZG CHG RLFD PSQC GZQG JLSG FDOD ]HSOLC HFZGD [LW PC ODC ]HSOLC PU GF
PHZQ GSLC PL[K GFQ GWLFU GSLC L[G U[I ]LD GI RLC MC PGQU GFZ]S ]HSOLCG ]J]Q
D[ RHOQ HOLCH R L L H D RGL]J] UZ[ZG PU ]HSOLCG HFWLL RCN PEH GLHHD G]HC GFHW U[I
PFDO ]HSOLCG COC GFHW HSLC UQQ CWW
PL[K ]QFCO GQHF GSLCH HI UZ[ZD OH] XUG COG U[I ]LD GI RLC UHFQ DY C
OYC PNTHQ GI H[LW RLC [LUGO L CWW D[ L[DF MQGO ]TJL]Q C[QEG ]LHZ [WL PDQ[G D]N GQD D
PLOUDO G[IJG OU ]TJL]Q GSLC C[QEG ]LHZ DDD TH]G L[DFQ JL[NG E RLN[U DZUL ]HOGZD RLLHUL PLSHC[G
PLSLFG LS OU GDHTS CLHZG ZQKGH L[ ]T[E LWO D]N POHCH PLHHD RHLFW OU Z[ COC ODHLD
PLFZ RCY UUH CSHG D[F CDLOC CWW D[O HZG CO UHFQ DLO DJ[ OHWOW KQ CJ LHOG ]LD UU E
CQUK LCQ ODHLD PLOUDO ][IHJ RLC ROCE CO PLS L]Q ]HJW RLOCES RLC ]HSOLC [NQ
RLF PGD [QCS CO GIHJC OOND PSLC ]HSOLC RHLN GC[S ]HSOLC COH CSQJ[ [QC H]IJCO DH
JGS UUH ILKO MHSLJ ]JSQ JZHOG O HJ[N OUD GOHCE
PDQ[DH KN ROGO [CHDQN [HTC PGLS ]QNTGD HSLLG PLS L] RLFO ]HSOLC CLDGO HN[YHG GQ [QHO ML[Y GI LWO
CL GKLQ
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PLFQOQ RLC FJCN PLCDG RLDH]N LS [DHT CD[ UQQ G[HCNO FJCN RLCDG RLDH]N LS >HGO@ GLO HHG
ED PLFQO RLC FJHLQ LHOLE HSL RCN CZHF LN GLC[ ON RLC RCN TH]G HD]N GQ LWO POHCH GH G[IED CO VC OON
DHJDH HHG GF HK ROGO TH]D UUH PLDH]N LS PHZQD PE ED PLFQO CQOUD MWGO TH]G L[DFQ UHQO L GD[FCH
PHNU OG VHT MOQG [U C[G PD RCN ZQK P
PLDH]N GQN L LWUC GH G[IED FHQOO R]LS GLG UHQO L G[HCNO GLQUKQ COH GL]HHN HCLDG C]LL[DG LWO PE
FJCN PLCDG
UYH IS PLJDID CDHQD U RLSUD PLSHC[G ]HUF HZOJS [DNH
VLTHQ RLC GSZQ GF VC QHJ VLTHQ RLC RLN[U GQ RLN[UO DH]NG HLZG MN[UG ]TNQD
GI RLC L[G ]QC ]WD MN OU FQU [DNH ]HSHLFW [CDN QHJ ]WTH] MLL RLC RLN[UD PEG QHJ
LCQ [WC PLSF RLUNH GIQ GI ZGD FHQOO L QQ RN]L FZGO [FHS CQOUD [FS COC RHLFW
TH]DH IO GFSD UUH DW ]HJSQ U ZGD [WC
HN[U LQF LWO FZGG FLQ H]HFWO G[H] G[QCH HWHE ]C LFZQN DJS ML[UQG RLSU [QHO L FHUH
VL[G LWFD F VF EL IU PL[HDEG LKOD D]N RN
FQ
HK VF RLN[U
G]HHLYH GI O HN[U ]C HQYU LTNSQ LFZQ HOLCN DJS GC[S HLFZGO [QHO MLL RLC [JC PFC ML[UQG LWUC
RLSU RDHQ RNH RHLFW ]QHD HQN RLN[UD L GN[UGH GFQUG RLSU RDHQ GIDH DHYZ MTD LFZG M[U H]HC ]HFWO G[H]
CHG PYUD LSHOW M[U LFZQN LN >M[USG ]N[UG PYUO ]NLL ML[UQG O H]HLSU RLC G[HCNO@ FL EGD LSU M[U
GOZG MNOG [LUO [LUG O PLDH[Q PLTNSN HOYC PLDJS LSUG O PLKUHQ PLTNS L[GH M[U H]HC LWN HLTNSQ LFZQN
D OLUO CDHQD RLN[UG [FS [FED UUH LSU M[U HSLLGH LSU O GFQ GSZ LWO HNL[UL RGNG G[H]
QHJ VLTHQ HSLC VTND H]HFWO CD MN [JCH HN[UO PLHTQ XWJ L[WG RHEN [DHFQ H[W LH
DE ]HDH]N OCZIJL RHIJ HNF RLN[U JSUW ]SWY LWU [DIE FLO CD FU FZ]S CO LSWQ ]HFZG [CN
RN [W GC[S RLC L[ L[DF ]QL]TQH
HK VF
EQDQ ]HDH]ND CDHQD U TSHCD PEWH ]HD DHLJ L[FE OU
PEWH ]HD CNLCF OONQ GSU [C ]J]
LQF PG PLUOT PLQJG GC[L RLUOT RLQJ G]GD LQF R]LH D]N R]SHGL PHE[] RHOQ CY] GODZGH D]NG [WTD D]N
PLTLWFQG ]EEQ CHG ZWT RLCH HSLC GIH ]HD
L[ L[DFQ ON] M[U MH[UD UUH G]GD GHD PHE[] LWUC PD]NN PHE[]G L[DF DLO PHZQ L LOHCH
R[D PE GC[H DDO RHGQ]H ]HQQH]G HSLLGH RHQQ HGHD RHONH@ GGLQ]H FJW RHOQ CHG [CHDQ DT ]HDH]ND
WSG ]QEUH ]HQQH]GG ]HJ]H GF[JG OU CD TSZG PHE[]G ]SHHN HI [WCH >PLSZL[ C]GDF LDT JU PL[FS
C[QEG L[DFO G[L]T RCN RLCH
WSO PFCG LGLH [QCS HQN PFCG PYU CLG RHOG RN GUQ GHUG RQ [HQJ HLWD [QHCG
DLH FHL [IS LSDC U O[GQ LWU COOQQ JH[O RSLQE[]QH GLJ
[DFQD HSL]HDC OU RLF [IE P]J]S CO HSLYQ RN GUQ GHUG RQ [HQJ HLWD [QHCG CYQS
RHO H[QC CO [DFQG [HF L[G MN ON [HQJ U[G RHO ODZQG PE GC[S U[G RHO OU COC
PDQ[G RHOQ UQQ RNH U[G RHO HODLZ OU CHGG [HFG ON HSUSH PFDO PLOE[QG COC U[G
]QC ]W I ]HUF OGD
VHED PLD[ ]HUQQD HSQQ RLD PLSLJDQG PLZFZFQG RQ L HSQQ COC HSQQ CHG ZIJ LN L[ZL] OC
]HC ]KQG OU ]H[HGO ]EFHQ CLG []TS VHED FLJL ]HUQQ RLDH ]EFHQ GSLC S G RHC[
]HFEC LHFJDH UDC[ LWU L ]JSQD NNH DO[ RDQ[O ]HTJHLQG CD[G ]HD U HGSQQ DH]N HOLCN G
POHN COC PGLSLD FHZLSDH GCL[ZD [WG RLC PL[DHT LH RCN PLSLU J]W [WTD PE UH GO GKHT O[GQ
PGLSLD [WG RLC LN HSQQ COC HSQQ L[ZL] OC TH[EO RLC D]N GO GKHTD L[ ]UFD NNH RCN TH]G NN PLHEF
QU ECQ CT] RTLS RLUQG XDHZD UUH GSEU] RGOG WGU ]H[ ]OLEQD L[ LWU CZU[ NN
POHUO HI GUF GJF PLSLU J]W [WTDH ZH[HD HC POHJD HCHG FHZLS RLD CHG ZHOLJG HD]N L
POHJD HSQQ ULWHQ RLC
>HH RHS PQ OHWN GL]HL]HC LHOLQ L[G@ HSQQ CHG PE HSQQ ]DL]D ]HL]HCG LHOLQ IQ[ M[FDH
JO PL[HKG OUDD CDHQ ]HLHUQQG L]O PLLQUW HSQQ DH]N HOLCN
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