Exhibit 99.1

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 C:=;:=,?0 G:A0=9,9.0 C"%#"%A'E G")E%!A!CE &'A'E E!' I!'%"D(C'I"! G090?4. '0.39:7:240> L484?0/ ,9/ 4?> B:,=/ ,=0 .:884??0/ ?: ,.340A492 ,9/ /08:9>?=,?492 ?30 34230>? >?,9/,=/> :1 .:=;:=,?0 2:A0=9,9.0. '30 B:,=/ .:9?49@0> ?: =0A40B 4?> .:=;:=,?0 2:A0=9,9.0 1=,80B:=6 ,9/ ;=,.?4.0> ?: 09>@=0 ?30D 800? ?30 49?0=0>?> :1 >3,=03:7/0=>. '30 C:8;,9D ,9/ 4?> .:9?=:770/ 09?4?40> ?:20?30= ,=0 =010==0/ ?: ,> ?30 HG=:@;I 49 ?34> >?,?0809?. %010=09.0 4> 8,/0 ?: ?30 =0A4>0/ C:=;:=,?0 G:A0=9,9.0 #=49.4;70> ,9/ %0.:8809/,?4:9> 4>>@0/ ,9/ =0A4>0/ 1=:8 ?480 ?: ?480 -D ?30 A&+ C:=;:=,?0 G:A0=9,9.0 C:@9.47. '30 B:,=/ -0740A0> ?3,? ,77 .:9.0;?> :1 ?30 =0A4>0/ #=49.4;70> ,9/ %0.:8809/,?4:9> 3,A0 -009 >,?4>140/, 3:B0A0= ?30 B:,=/ 4> =0,74>?4. B4?3 =0>;0.? ?: ?30 =07,?4A0 >4E0 ,9/ 9,?@=0 :1 ?30 C:8;,9D ,9/ 3,A0 48;70809?0/ ?30 %0.:8809/,?4:9> ,..:=/4927D. '30 C:8;,9D 09/0,A:@=> ?: 09>@=0 0C.0;?4:9> ?: ?30 2@4/07490> /: 9:? 902,?4A07D 48;,.? ?30 -0>? 49?0=0>?> :1 >3,=03:7/0=>. *3470 49 8:>? =0>;0.?> ?30 C:8;,9D .:8;740> B4?3 ?30 %0.:8809/,?4:9>, 4? 4> =0.:294>0/ ?3,? ?30 /0A07:;809? ,9/ 48;70809?,?4:9 :1 ;:74.40> ,9/ ;=,.?4.0> 4> ,9 :92:492 ;=:.0>> ?3,? 0A:7A0> B4?3 ?30 900/> :1 ?30 -@>490>> ,9/ 4?> >?,603:7/0=>. A /0>.=4;?4:9 :1 ?30 G=:@;G> 8,49 .:=;:=,?0 2:A0=9,9.0 ;=,.?4.0> 4> >0? :@? -07:B. A77 :1 ?30>0 ;=,.?4.0>, @970>> :?30=B4>0 >?,?0/, B0=0 49 ;7,.0 1:= ?30 09?4=0 D0,=. '30 1:77:B492 C:=;:=,?0 G:A0=9,9.0 /:.@809?> 3,/ -009 ,/:;?0/ -D ?30 B:,=/, 49 ,//4?4:9 ?: ?30 C:8;,9DG> C:9>?4?@?4:9 B34.3 B,> .:8;70?07D =0A4>0/ ,9/ >@->0<@09?7D ,;;=:A0/ -D ?30 C:8;,9DG> >3,=03:7/0=> 49 !:A08-0= 2005. '30 C:8;,9DG> C:9>?4?@?4:9; B:,=/ C3,=?0=; A@/4? C:884??00 C3,=?0=; %08@90=,?4:9 C:884??00 C3,=?0=; B:,=/ #0=1:=8,9.0 EA,7@,?4:9 #:74.D; B:,=/ #=:?:.:7; C:/0 :1 C:9/@.?; C:9?49@:@> D4>.7:>@=0 #:74.D; D4A0=>4?D #:74.D; %4>6 ,9/ C:8;74,9.0 #:74.D; &0.@=4?40> '=,/492 #:74.D; &3,=03:7/0= C:88@94.,?4:9> #:74.D; ,9/ *34>?70--7:B0= #:74.D. 5

A&+ #%I!CI#LE& A!D %EC" E!DA'I"!& #=49.4;70 : L,D >:74/ 1:@9/,?4:9> 1:= 8,9,20809? ,9/ :A0=>423? '30 =07,?4:9>34; -0?B009 ?30 B:,=/ ,9/ ,9,20809? 4> .=4?4.,7 ?: ?30 G=:@;G> >@..0>>. '30 D4=0.?:=> ,=0 =0>;:9>4-70 ?: ?30 >3,=03:7/0=> 1:= ?30 ;0=1:=8,9.0 :1 ?30 G=:@; 49 -:?3 ?30 >3:=? ,9/ 7:920= ?0=8 ,9/ >006 ?: -,7,9.0 >:80?480> .:8;0?492 :-50.?4A0> 49 ?30 -0>? 49?0=0>?> :1 ?30 G=:@; ,> , B3:70. '304= 1:.@> 4> ?: 093,9.0 ?30 49?0=0>?> :1 >3,=03:7/0=> ,9/ :?30= 60D >?,603:7/0=> ,9/ ?: 09>@=0 ?30 G=:@; 4> ;=:;0=7D 8,9,20/. . %0>;:9>4-474?40> :1 ?30 B:,=/ '30 =0>;:9>4-474?40> :1 ?30 B:,=/ 49.7@/0: ;=:A4/492 >?=,?024. 2@4/,9.0 ?: ?30 G=:@;, 49.7@/492 .:9?=4-@?492 ?: ?30 /0A07:;809? :1 ,9/ ,;;=:A492 ?30 G=:@;G> .:=;:=,?0 >?=,?02D; • =0A40B492 ,9/ ,;;=:A492 -@>490>> ;7,9>, ?30 ,99@,7 -@/20? ,9/ 149,9.4,7 ;7,9>, 49.7@/492 ,A,47,-70 =0>:@=.0> ,9/ 8,5:= .,;4?,7 0C;09/4?@=0 494?4,?4A0>; • :A0=>00492 ,9/ 8:94?:=492: • o:=2,94>,?4:9,7 ;0=1:=8,9.0 ,9/ ?30 ,.340A0809? :1 ?30 G=:@;G> >?=,?024. 2:,7> ,9/ :-50.?4A0>; o.:8;74,9.0 B4?3 ?30 C:8;,9DG> C:/0 :1 C:9/@.?; ,9/ o;=:2=0>> :1 8,5:= .,;4?,7 0C;09/4?@=0> ,9/ :?30= >429414.,9? ;=:50.?>, 49.7@/492 ,9D ,.<@4>4?4:9> := /4A0>?809?>; 8:94?:=492 ?30 G=:@;G> 149,9.4,7 ;0=1:=8,9.0, 49.7@/492 ,;;=:A,7 :1 ?30 ,99@,7 ,9/ 3,71-D0,= 149,9.4,7 =0;:=?> ,9/ =02@7,= 74,4>:9 B4?3 ?30 C:8;,9DG> ,@/4?:=>; • ,;;:49?809?, ;0=1:=8,9.0 ,>>0>>809? ,9/, 41 90.0>>,=D, =08:A,7 :1 ?30 C3401 EC0.@?4A0 "114.0=; • =,?41D492 ?30 ,;;:49?809? ,9//:= =08:A,7 ,9/ .:9?=4-@?492 ?: ?30 ;0=1:=8,9.0 ,>>0>>809? 1:= ?30 808-0=> :1 ?30 &094:= L0,/0=>34; '0,8; • 09>@=492 ?30=0 ,=0 0110.?4A0 8,9,20809? ;=:.0>>0> 49 ;7,.0 1:= ,;;=:A492 8,5:= .:=;:=,?0 494?4,?4A0>; • 093,9.492 ,9/ ;=:?0.?492 ?30 =0;@?,?4:9 :1 ?30 :=2,94>,?4:9; • :A0=>00492 ?30 :;0=,?4:9 :1 ?30 G=:@;G> >D>?08 1:= .:8;74,9.0 ,9/ =4>6 8,9,20809? =0;:=?492 ?: >3,=03:7/0=>; ,9/ •

09>@=492 ,;;=:;=4,?0 =0>:@=.0> ,=0 ,A,47,-70 ?: >094:= 48;70809? ?30 >?=,?0240> ,;;=:A0/ -D ?30 B:,=/. ,9,20809? ?: 09,-70 ?308 ?: • D,D-?:-/,D 8,9,20809? :1 ?30 G=:@;G> ,11,4=> ,9/ ?30 48;70809?,?4:9 :1 ?30 .:=;:=,?0 >?=,?02D ,9/ ;:74.D 494?4,?4A0> ,=0 1:=8,77D /0702,?0/ -D ?30 B:,=/ ?: ?30 C3401 EC0.@?4A0 "114.0= ,9/ ?30 >094:= 0C0.@?4A0> ,> >0? :@? 49 ?30 G=:@;G> /0702,?4:9> ;:74.40>. '30>0 /0702,?4:9> ,=0 =0A40B0/ -D ?30 B:,=/ 1=:8 ?480 ?: ?480. .2 !0B /4=0.?:= ,;;:49?809?> ,9/ 070.?4:9> B01:=0 ,;;:49?492 , /4=0.?:= := ;@??492 1:=B,=/ , .,9/4/,?0 ?: >3,=03:7/0=> 1:= 070.?4:9, ?30 B:,=/ B477 @9/0=?,60 ,;;=:;=4,?0 -,.62=:@9/ .30.6>. '30 .:884?809?> :1 !:9-0C0.@?4A0 D4=0.?:=> ,=0 .:9>4/0=0/ ;=4:= ?: ?304= ,;;:49?809? ?: ?30 B:,=/ ,9/ ,=0 =0A40B0/ =02@7,=7D. #=4:= ?: ,;;:49?809? := -0492 >@-84??0/ 1:= =0-070.?4:9, 0,.3 !:9-0C0.@?4A0 D4=0.?:= 4> =0<@4=0/ ?: >;0.414.,77D ,.69:B70/20 ?3,? ?30D 3,A0 ,9/ B477 .:9?49@0 ?: 3,A0 ?30 ?480 ,A,47,-70 ?: /4>.3,=20 ?304= =0>;:9>4-474?40> ?: ?30 C:8;,9D. '30 B:,=/ B477 ,7>: ;=:A4/0 ,77 8,?0=4,7 491:=8,?4:9 B34.3 4> =070A,9? ?: B30?30= := 9:? , ;0=>:9 >3:@7/ -0 070.?0/ := =0-070.?0/ ?: >3,=03:7/0=> (49.7@/492 491:=8,?4:9 =07,?492 ?: 49/0;09/09.0 ,9/ , =0.:8809/,?4:9 =02,=/492 >@;;:=? := :?30=B4>0 ?: ?30 .,9/4/,?0G> ,;;:49?809? := 070.?4:9). *309 , 900/ ?: ,;;:49? , 90B D4=0.?:= 4> ?: -0 .:9>4/0=0/, ?30 B:,=/ .:9>4/0=> ?30 =,920 ,9/ -=0,/?3 :1 >6477>, 0C;0=409.0 ,9/ 0C;0=?4>0 :9 ?30 B:,=/, ,9/ .:8;,=0> ?3,? ?: 1@?@=0 900/>. F=:8 ?34>, , >3:=?-74>? :1 .,9/4/,?0> B4?3 ,;;=:;=4,?0 >6477> ,9/ 0C;0=409.0 20?> .:9>4/0=0/. A 9@8-0= :1 .3,9907> ,=0 @>0/ ?: >:@=.0 .,9/4/,?0> ?: 09>@=0 ?30 C:8;,9D -09014?> 1=:8 , /4A0=>0 =,920 :1 49/4A4/@,7> 49 ?30 >070.?4:9 ;=:.0>>. *30=0 90.0>>,=D, ,/A4.0 4> >:@23? 1=:8 49/0;09/09? >0,=.3 .:9>@7?,9?>. '30 1@77 B:,=/ ?309 ,;;:49?> ?30 8:>? >@4?,-70 .,9/4/,?0 B3: 8@>? >?,9/ 1:= 070.?4:9 ,? ?30 C:8;,9DG> 90C? AG . '30 9:849,?4:9 :1 0C4>?492 D4=0.?:=> 1:= =0,;;:49?809? 4> 9:? ,@?:8,?4. ,9/ 4> ;,=?7D .:9?49209? :9 ?304= ;,>? ;0=1:=8,9.0, .:9?=4-@?4:9 ?: ?30 0110.?4A0 :;0=,?4:9 :1 ?30 B:,=/ ,9/ ?30 .@==09? ,9/ 1@?@=0 900/> :1 -:?3 ?30 B:,=/ ,9/ C:8;,9D. '30 B:,=/ 4> ,B,=0 :1 ?30 ,/A,9?,20> :1 B:,=/ =090B,7 ,9/ >@..0>>4:9 ;7,99492. !:?4.0> :1 800?492> 1:= ?30 070.?4:9 :1 D4=0.?:=> .:8;7D B4?3 ?30 A&+ C:=;:=,?0 G:A0=9,9.0 C:@9.47G> -0>? ;=,.?4.0 =0.:8809/,?4:9>. .3 *=4??09 ,2=00809?> B4?3 D4=0.?:=> ,9/ &094:= EC0.@?4A0> !0B D4=0.?:=> =0.04A0 , 70??0= :1 ,;;:49?809?, B34.3 :@?7490> ?30 C:8;,9DG> 0C;0.?,?4:9> 49 =07,?4:9 ?: ;,=?4.4;,?4:9, ?480 .:884?809?> ,9/ .:8;74,9.0 B4?3 ;:74.40> ,9/ =02@7,?:=D =0<@4=0809?>. A> B4?3 ,77 08;7:D00>, >094:= 0C0.@?4A0> ,=0 =0<@4=0/ ?: >429 08;7:D809? ,2=00809?> >0??492 :@? ?30 60D ?0=8> :1 08;7:D809?. !:9-0C0.@?4A0 D4=0.?:=> ,=0 0C;0.?0/ ?: >;09/ ,/0<@,?0 ?480 ;=0;,=492 1:= ,9/ ,??09/492 B:,=/ ,9/ &@--C:884??00 800?492> ,9/ ,>>:.4,?0/ ,.?4A4?40>. '30 9@8-0= :1 800?492> :1 ?30 C:8;,9DG> B:,=/ :1 D4=0.?:=> ,9/ :1 0,.3 B:,=/ &@--C:884??00 307/ ,=0 /4>.7:>0/ 49 0,.3 A99@,7 %0;:=?. 7

'30 .:884?809?> :1 ,77 !:9-0C0.@?4A0 D4=0.?:=> ,=0 .:9>4/0=0/ -D ?30 B:,=/ ;=4:= ?: ?30 D4=0.?:=G> ,;;:49?809? ?: ?30 B:,=/ ,9/ ,=0 =0A40B0/ 0,.3 D0,= ,> ;,=? :1 ?30 ,99@,7 ;0=1:=8,9.0 ,>>0>>809?. #=4:= ?: ,;;:49?809? := -0492 >@-84??0/ 1:= =0-070.?4:9, 0,.3 !:9-0C0.@?4A0 D4=0.?:= 4> =0<@4=0/ ?: >;0.414.,77D ,.69:B70/20 ?3,? ?30D 3,A0, ,9/ B477 .:9?49@0 ?: 3,A0, ?30 ?480 ,A,47,-70 ?: /4>.3,=20 ?304= =0>;:9>4-474?40> ?: ?30 C:8;,9D. .4 C:8;,9D &0.=0?,=D '30 C:8;,9D &0.=0?,=D 4> ,..:@9?,-70 /4=0.?7D ?: ?30 B:,=/, ?3=:@23 ?30 C3,4=, :9 ,77 8,??0=> =07,?0/ ?: ?30 ;=:;0= 1@9.?4:9492 :1 ?30 B:,=/. .5 D4A0=>4?D #:74.D '30 C:8;,9D A,7@0> /4A0=>4?D ,9/ =0.:294>0> ?30 -09014?> 4? .,9 -=492 ?: ?30 :=2,94>,?4:9G> ,-474?D ?: ,.340A0 4?> 2:,7>. A..:=/4927D, ?30 C:8;,9D 3,> /0A07:;0/ ,9/ 49?=:/@.0/ , /4A0=>4?D ;:74.D B34.3 :@?7490> 4?> /4A0=>4?D :-50.?4A0> 49 =07,?4:9 ?: 209/0=, ,20, .@7?@=,7 -,.62=:@9/, 0?394.4?D ,9/ :?30= 1,.?:=>. I? 49.7@/0> =0<@4=0809?> 1:= ?30 B:,=/ ?: 0>?,-74>3 80,>@=,-70 :-50.?4A0> 1:= ,.340A492 /4A0=>4?D, ,9/ 1:= ?30 B:,=/ ?: ,>>0>> ,99@,77D -:?3 ?30 :-50.?4A0>, ,9/ ?30 C:8;,9DG> ;=:2=0>> 8,/0 49 ,.340A492 ?308. I9 ,..:=/,9.0 B4?3 ?30 C:8;,9DG> D4A0=>4?D #:74.D ,9/ A&+ C:=;:=,?0 G:A0=9,9.0 ;=49.4;70>, ?30 B:,=/ 3,> 0>?,-74>30/ A,=4:@> :-50.?4A0> 49 =07,?4:9 ?: 209/0= /4A0=>4?D. '30 ,48 4> ?: ,.340A0 ?30>0 :-50.?4A0> :A0= ?30 .:8492 D0,=> ,> =070A,9? ;:>4?4:9> -0.:80 A,.,9? ,9/ ,;;=:;=4,?07D->64770/ .,9/4/,?0> ,=0 ,A,47,-70. "A0=,77 ,9/ ,9,20809? F 0<@,7 =0;=0>09?,?4:9, 3:B0A0= ?30 H-0>? 14?I :1 , ;0=>:9 4> :1 • 8@.3 8:=0 48;:=?,9.0 B:,=/ F ,? 70,>? :90 108,70 /4=0.?:= • '30 C:8;,9D 4> ,B,=0 :1 ?30 -09014?> :1 /4A0=>4?D, 9:? :97D 1=:8 209/0= -@? 1=:8 , B4/0 =,920 :1 /4110=09? -,.62=:@9/>, .@7?@=0>, 0C;0=409.0>, 0?394.4?D, 0?.. ?: 70A0=,20 ?30 B4/0>? ;:>>4-70 ;::7 :1 ,A,47,-70 ?,709?. A> ,? ?30 8:>? =0.09? D0,= 09/ =0;:=?492 /,?0, -0492 30 j@90 20 9, ?30 G=:@;G> 209/0= /4A0=>4?D 84C 4>: &094:= 8,9,20809? 4> /01490/ ,> , 8,9,20= B3: 3,> , =07,?4A07D 3423 70,/0=>34; =:70 49 ?30 /,D-?:-/,D =0>;:9>4-474?40> :1 8,9,2492 ?30 C:8;,9D. 8 F08,70 ,70 ':?,7 >?,11 5 % 44% &094:= 8,9,20809? -% 00% B:,=/ F 00%

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

49@?0> :1 C:884??00 800?492> ,=0 ?,-70/ ,? ?30 >@->0<@09? B:,=/ 800?492. A//4?4:9,7 =0<@4=0809?> 1:= >;0.414. =0;:=?492 -D ?30 C:884??00> ?: ?30 B:,=/ ,=0 ,//=0>>0/ 49 ?30 C3,=?0= :1 ?30 49/4A4/@,7 C:884??00>. 2. !:849,?4:9 .:884??00 G4A09 ?30 9,?@=0 ,9/ >4E0 :1 ?30 C:8;,9DG> :;0=,?4:9>, ?30 B:,=/ 3,> /0.4/0/ ,2,49>? ?30 @>0 :1 , >0;,=,?0 9:849,?4:9 .:884??00. '34> 1@9.?4:9 4> @9/0=?,609 -D ?30 1@77 B:,=/. 2.2 B:,=/ >6477> 8,?=4C G4A09 ?30 9,?@=0 ,9/ >4E0 :1 ?30 C:8;,9D, ?30 B:,=/ 3,> D0? ?: @?474>0 , 1:=8,7 B:,=/ >6477> 8,?=4C. '34> ?:-/,?0 491:=8,7 ;=:.0>> B477 -0 =0-0A,7@,?0/ ,> ?30 C:8;,9D 2=:B>. 2.3 B:,=/ .:8;:>4?4:9 ,9/ 49/0;09/09.0 '30 B:,=/ >006> ?: 09>@=0 ?3,?: ,? ,9D ;:49? 49 ?480, 4?> 808-0=>34; =0;=0>09?> ,9 ,;;=:;=4,?0 -,7,9.0 -0?B009 D4=0.?:=> B4?3 0C;0=409.0 ,9/ 69:B70/20 :1 ?30 G=:@; ,9/ D4=0.?:=> B4?3 ,9 0C?0=9,7 := 1=0>3 ;0=>;0.?4A0; ,9/ • ?30 >4E0 :1 ?30 B:,=/ 4> .:9/@.4A0 ?: 0110.?4A0 /4>.@>>4:9 ,9/ 0114.409? /0.4>4:9-8,6492. • '30 B:,=/ 3,> ,/:;?0/ >;0.414. ;=49.4;70> 49 =07,?4:9 ?: ?30 49/0;09/09.0 :1 4?> D4=0.?:=>. '30>0 >?,?0 ?3,?, B309 /0?0=849492 49/0;09/09.0, , D4=0.?:= 8@>? -0 , !:9-0C0.@?4A0 ,9/ ?30 B:,=/ >3:@7/ .:9>4/0= B30?30= ?30 D4=0.?:=: 4> , >@->?,9?4,7 >3,=03:7/0= :1 ?30 C:8;,9D := ,9 :114.0= :1, := :?30=B4>0 ,>>:.4,?0/ /4=0.?7D B4?3, , >@->?,9?4,7 >3,=03:7/0= :1 ?30 C:8;,9D; • 4>, := 3,> -009, 08;7:D0/ 49 ,9 0C0.@?4A0 .,;,.4?D -D ?30 C:8;,9D := ,9D :?30= G=:@; 09?4?D B4?349 ?3=00 D0,=> -01:=0 .:8809.492 34> := 30= >0=A4.0 :9 ?30 B:,=/; • B4?349 ?30 7,>? ?3=00 D0,=> 3,> -009 , ;=49.4;,7 :1 , 8,?0=4,7 ;=:10>>4:9,7 ,/A4>0= := , 8,?0=4,7 .:9>@7?,9? ?: ?30 C:8;,9D := ,9D :?30= G=:@; 09?4?D, := ,9 08;7:D00 8,?0=4,77D ,>>:.4,?0/ B4?3 ?30 >0=A4.0 ;=:A4/0/; • 4> , 8,?0=4,7 >@;;740= := .@>?:80= :1 ?30 C:8;,9D := ,9D :?30= G=:@; 808-0=, := ,9 :114.0= :1 := :?30=B4>0 ,>>:.4,?0/ /4=0.?7D := 49/4=0.?7D B4?3 , 8,?0=4,7 >@;;740= := .@>?:80=; • 3,> , 8,?0=4,7 .:9?=,.?@,7 =07,?4:9>34; B4?3 ?30 C:8;,9D := , .:9?=:770/ 09?4?D :?30= ?3,9 ,> , D4=0.?:= :1 ?30 G=:@;; ,9/ • 4> 1=00 1=:8 ,9D -@>490>> := :?30= =07,?4:9>34; B34.3 .:@7/, := .:@7/ =0,>:9,-7D -0 ;0=.04A0/ ?:, 8,?0=4,77D 49?0=10=0 B4?3 ?30 D4=0.?:=G> 49/0;09/09? 0C0=.4>0 :1 34> := 30= 5@/20809?. • ,?0=4,74?D 1:= ?30>0 ;@=;:>0> 4> /0?0=8490/ :9 -:?3 <@,9?4?,?4A0 ,9/ <@,74?,?4A0 -,>0>. A9 ,8:@9? :1 :A0= 14A0 ;0=.09? :1 ,99@,7 ?@=9:A0= :1 ?30 C:8;,9D := G=:@; := 14A0 ;0=.09? :1 ?30 49/4A4/@,7 D4=0.?:=>G 90? B:=?3 4> .:9>4/0=0/ 8,?0=4,7 1:= ?30>0 ;@=;:>0>. I9 ,//4?4:9, , 20

?=,9>,.?4:9 :1 ,9D ,8:@9? := , =07,?4:9>34; 4> /0080/ 8,?0=4,7 41 69:B70/20 :1 4? 8,D 48;,.? ?30 >3,=03:7/0=>G @9/0=>?,9/492 :1 ?30 D4=0.?:=G> ;0=1:=8,9.0. %0.09? ?3496492 :9 .:=;:=,?0 2:A0=9,9.0 3,> 49?=:/@.0/ ?30 A40B ?3,? , D4=0.?:=G> 49/0;09/09.0 8,D -0 ;0=.04A0/ ?: -0 48;,.?0/ -D 7092?3D >0=A4.0 :9 ?30 B:,=/. ': ,A:4/ ,9D ;:?09?4,7 .:9.0=9>, ?30 B:,=/ 3,> /0?0=8490/ ?3,? , D4=0.?:= B477 9:? -0 /0080/ 49/0;09/09? 41 30 := >30 3,> >0=A0/ :9 ?30 B:,=/ :1 ?30 C:8;,9D 1:= 8:=0 ?3,9 ?09 D0,=>. '30 B:,=/ B477 .:9?49@0 ?: 8:94?:= /0A07:;809?> :9 ?34> 4>>@0 ,> ?30D ,=4>0. '30 B:,=/ ,>>0>>0> 49/0;09/09.0 0,.3 D0,=. ': 09,-70 ?34> ;=:.0>>, ?30 D4=0.?:=> 8@>? ;=:A4/0 ,77 491:=8,?4:9 ?3,? 8,D -0 =070A,9? ?: ?30 ,>>0>>809?. '30 C:8;,9DG> C:9>?4?@?4:9 >;0.4140> ?3,? ,77 !:9-0C0.@?4A0 D4=0.?:=> 8@>? =0?4=0 1=:8 :114.0 9: 7,?0= ?3,9 ?30 ?34=/ A99@,7 G090=,7 00?492 (HAG I) 1:77:B492 34> := 30= 7,>? 070.?4:9. *30=0 07424-70, , D4=0.?:= 8,D >?,9/ 1:= =0-070.?4:9. 2.4 I9/0;09/09? D4=0.?:=> D0?,47> :1 ?30 808-0=> :1 ?30 B:,=/, ?304= 0C;0=409.0, 0C;0=?4>0, <@,7414.,?4:9>, ?0=8 :1 :114.0, =07,?4:9>34;> ,110.?492 ?304= 49/0;09/09.0 ,9/ ?304= 49/0;09/09? >?,?@> ,=0 >0? :@? 49 0,.3 A99@,7 %0;:=? ,9/ :9 ?30 C:8;,9D B0->4?0. "1 ?30 .@==09? D4=0.?:=>, D= *,601407/ 4> .:9>4/0=0/ -D ?30 B:,=/ ?: -0 ,-70 ?: 1@7147 ?30 =:70 :1 I9/0;09/09? D4=0.?:= 1:= ?30 ;@=;:>0> :1 ?30 A&+ C:=;:=,?0 G:A0=9,9.0 #=49.4;70> ,9/ %0.:8809/,?4:9>. D= @.394.64 4> 9:? .:9>4/0=0/ 49/0;09/09? /@0 ?: 34> .@==09? ,9/ ;=0A4:@> 0C0.@?4A0 =:70 B4?3 ?30 C:8;,9D, ,9/ 1:=80= D4=0.?:= = L00 ,9/ :92:492 D4=0.?:= = %@-49>?049 ,=0 9:? .:9>4/0=0/ 49/0;09/09? /@0 ?: ?304= .@==09? := 1:=80= =07,?4:9>34; B4?3 , =07,?0/ ;,=?D :1 ?30 C:8;,9D (B7:.6.3,49 G7:-,7 L484?0/), D=. K,>4,9 307/ ,9 0C0.@?4A0 =:70 B4?349 ?30 C:8;,9D ,9/ B,> ,7>: 9:? .:9>4/0=0/ ?: -0 49/0;09/09?. '30 B:,=/ /:0> 9:? .:9>4>? :1 8,5:=4?D :1 49/0;09/09? /4=0.?:=>, ?30 B:,=/ .:9>4/0=0/ ?30 ;=0>09.0 :1 ,? 70,>? :90 49/0;09/09? /4=0.?:= :9 ?30 B:,=/ (,9/ B:,=/ C:884??00>) ,> >@114.409? /@=492 ?30 .:@=>0 :1 ?30 20 9 149,9.4,7 D0,=, 3:B0A0=, ,.69:B70/20> 4?> 49?09?4:9 ?: 49.=0,>0 49/0;09/09? ;=0>09.0 :9 ?30 B:,=/ ,9/ B:,=/ C:884??00> 49 ?30 1@?@=0. A..:=/4927D, !4.6 B@==:B>, ,9 49/0;09/09? !:9-0C0.@?4A0 /4=0.?:= B,> ,;;:49?0/ ?: ?30 B:,=/ :9 &0;?08-0= 20 9. '30 C:8;,9D 49?09/> ?: =0A40B 4?> .:8;:>4?4:9 49 ?30 1@?@=0 ,> :;0=,?4:9> 0C;,9/ ,9/ B477 .:9>4/0= ?30 ,;;:49?809? :1 ,9 ,//4?4:9,7 49/0;09/09? /4=0.?:= /@=492 ?30 D0,=. 2.5 C3,4= ,9/ C3401 EC0.@?4A0 "114.0= (HCE"I) '30 C3,4= 4> =0>;:9>4-70 1:= 70,/492 ?30 B:,=/, 09>@=492 ?3,? D4=0.?:=> ,=0 ;=:;0=7D -=4010/ 49 ,77 8,??0=> =070A,9? ?: ?304= =:70 ,9/ =0>;:9>4-474?40>, 1,.474?,?492 B:,=/ /4>.@>>4:9> ,9/ 8,9,2492 ?30 B:,=/G> =07,?4:9>34; B4?3 ?30 C:8;,9DG> &094:= L0,/0=>34; '0,8. I9 ,..0;?492 ?30 ;:>4?4:9, ?30 C3,4= ,.69:B70/20> ?3,? 4? B477 =0<@4=0 , >429414.,9? ?480 .:884?809? ,9/ .:914=8> ?3,? :?30= ;:>4?4:9> B477 9:? 349/0= 34> := 30= 0110.?4A0 ;0=1:=8,9.0 49 ?3,? =:70. '30 CE" 4> =0>;:9>4-70 1:= 48;70809?492 G=:@; >?=,?0240> ,9/ ;:74.40>. D@=492 ?30 20 9 149,9.4,7 D0,=, ?30 C3,4=8,9 :1 ?30 C:8;,9D B,> D= #,@7 K,>4,9, B3: ,7>: ,.?0/ ,> 49?0=48 CE" @9?47 34> =0>429,?4:9 1=:8 ?30 C:8;,9D 49 &0;?08-0= 20 9. A? ?30 ?480, 30 B,> .:9>4/0=0/ 8:>? ,;;=:;=4,?0 ;0=>:9 ?: ,.? ,> 49?0=48 CE" @9?47 34> =0>429,?4:9. D= G0:=20 @.394.64 4> 9:B ,.?492 ,> 49?0=48 C3,4= ,9/ CE", ?34> 4> , ?08;:=,=D ,==,920809? ,9/ 2

4? 4> 9:? 49?09/0/ ?3,? ?30 =:70 :1 ?30 C3,4= ,9/ CE" B477 -0 0C0=.4>0/ -D ?30 >,80 ;0=>:9 49 ?30 7:92 ?0=8. #=4:= ?: 34> =0>429,?4:9, ?30 B:,=/ .:9>4/0=0/ ?3,? D= K,>4,9 B,> ?30 8:>? ,;;=:;=4,?0 /4=0.?:= ?: C3,4= ?30 B:,=/ ,? ?34> .=4?4.,7 >?,20 :1 ?30 C:8;,9DG> /0A07:;809? /0>;4?0 34> 9:9-49/0;09/09? >?,?@>. 2. I9/@.?4:9 '30 49/@.?4:9 ;=:A4/0/ ?: 90B D4=0.?:=> 09,-70> ?308 ?: ,.?4A07D ;,=?4.4;,?0 49 B:,=/ /0.4>4:9-8,6492 ,> >::9 ,> ;:>>4-70. I? 09>@=0> ?3,? ?30D 3,A0 , 1@77 @9/0=>?,9/492 :1 ?30 C:8;,9DG> 149,9.4,7 ;:>4?4:9, >?=,?0240>, :;0=,?4:9>, .@7?@=0, A,7@0> ,9/ =4>6 8,9,20809? ;:74.40>. '30 49/@.?4:9 09>@=0> 90B D4=0.?:=> @9/0=>?,9/ ?30 =0>;0.?4A0 =423?>, /@?40>, =0>;:9>4-474?40>, 49?0=,.?4:9 ,9/ =:70> :1 ?30 B:,=/ ,9/ ?30 &094:= L0,/0=>34; '0,8 ,9/ ?30 C:8;,9DG> 800?492 ,==,920809?>. #=49.4;70 3: A.? 0?34.,77D ,9/ =0>;:9>4-7D 3. C:/0 :1 .:9/@.? '30 C:8;,9D 3,> /0A07:;0/ , >?,?0809? :1 A,7@0> ,9/ , C:/0 :1 C:9/@.? (?30 HC:/0I) B34.3 3,> -009 1@77D 09/:=>0/ -D ?30 B:,=/ ,9/ ,;;740> ?: ,77 D4=0.?:=>. '30 C:/0 4> =02@7,=7D =0A40B0/ ,9/ @;/,?0/ ,> 90.0>>,=D ?: 09>@=0 4? =0170.?> ?30 34230>? >?,9/,=/> :1 -03,A4:@= ,9/ ;=:10>>4:9,74>8 ,9/ ?30 ;=,.?4.0> 90.0>>,=D ?: 8,49?,49 .:914/09.0 49 ?30 G=:@;G> 49?02=4?D ,9/ ?: ?,60 49?: ,..:@9? 702,7 :-742,?4:9> ,9/ =0,>:9,-70 0C;0.?,?4:9> :1 ?30 C:8;,9DG> >?,603:7/0=>. I9 >@88,=D, ?30 C:/0 =0<@4=0> ?3,? ,? ,77 ?480> D4=0.?:=> ,9/ 08;7:D00> ,.? B4?3 ?30 @?8:>? 49?02=4?D, :-50.?4A4?D ,9/ 49 .:8;74,9.0 B4?3 ?30 70??0= ,9/ ?30 >;4=4? :1 ?30 7,B ,9/ C:8;,9D ;:74.40>. '30 ;@=.3,>0 ,9/ >,70 :1 C:8;,9D >0.@=4?40> -D D4=0.?:=> ,9/ 08;7:D00> 4> 2:A0=90/ -D ?30 &0.@=4?40> '=,/492 #:74.D. &@.3 ?=,/492 4> 9:? ;0=84??0/ /@=492 ?30 ?B:-8:9?3 ;0=4:/> 4880/4,?07D 1:77:B492 ?30 09/ :1 ?30 C:8;,9DG> ?B: 149,9.4,7 3,71-D0,=>, 4.0. ,1?0= 3 D0.08-0= ,9/ 30 j@90 :1 0,.3 D0,=. A9D ?=,9>,.?4:9> @9/0=?,609 -D D4=0.?:=> :@?>4/0 :1 ?30>0 ;0=4:/> 8@>? -0 9:?4140/ ?: ?30 C:8;,9D &0.=0?,=D 49 ,/A,9.0. '30 C:/0 =0<@4=0> 08;7:D00> B3: ,=0 ,B,=0 :1 @90?34.,7 ;=,.?4.0> B4?349 ?30 G=:@; := -=0,.30> :1 ?30 C:8;,9DG> &0.@=4?40> '=,/492 #:74.D ?: =0;:=? >@.3 -=0,.30> 49 .:8;74,9.0 B4?3 ?30 C:8;,9DG> B34>?70--7:B0= ;:74.D B34.3 .,9 -0 /:90 ,9:9D8:@>7D. '30 D4=0.?:=> ,=0 >,?4>140/ ?3,? ?30 C:8;,9D 3,> .:8;740/ B4?3 4?> ;:74.40> :9 0?34.,7 >?,9/,=/>, 49.7@/492 ?=,/492 49 ?30 C:8;,9DG> >0.@=4?40>. '30 B:,=/ 9:?0> ?3,? 09<@4=40> =02,=/492 ,77020/ >0.@=4?40> ?=,/492 ;:74.D -=0,.30> -D , 1:=80= D4=0.?:= /@=492 ?30 149,9.4,7 D0,= 3,A0 -009 8,/0 -D ?30 C:8;,9D ,9/ /0,7? B4?3 ,;;=:;=4,?07D. #=49.4;70 4: &,102@,=/ 49?02=4?D 49 149,9.4,7 =0;:=?492 4. A@/4? C:884??00 22

'30 A@/4? C:884??00 :;0=,?0> 49 ,..:=/,9.0 B4?3 , C3,=?0= ,9/ ,77 808-0=> 8@>? -0 149,9.4,77D 74?0=,?0, .:9>4/0=0/ ?: -0 49/0;09/09? D4=0.?:=> ,9/ 3,A0 ,9 ,;;=:;=4,?0 @9/0=>?,9/492 :1 ?30 49/@>?=D 49 B34.3 ?30 G=:@; :;0=,?0>. A> ,? ?30 8:>? =0.09? D0,= 09/ =0;:=?492 /,?0, -0492 30 j@90 20 9 ?30 A@/4? C:884??00 .:9>4>?0/ :1 = #0?0= %@-49>?049 (C3,4= :1 ?30 C:884??00), D= L49/>,D *,601407/ ,9/ = &,8 L00 (=0>4290/ 9 j@7D 20 9). = %@-49>?049, = L00 ,9/ D= *,601407/ ,=0 9:9-0C0.@?4A0, B347>? :97D D= *,601407/ 4> .:9>4/0=0/ ?: -0 49/0;09/09?. '30>0 808-0=> B0=0 .:9>4/0=0/ -D ?30 B:,=/ ?: -0 ?30 H-0>? 14?I 1:= ?30 .:884??00 ?,6492 49?: ,..:@9? ?30 B:,=/ .:8;:>4?4:9. '30 B:,=/ 4> .@==09?7D ,>>0>>492 ?30 .:8;:>4?4:9 :1 ?30 A@/4? C:884??00 B4?3 ?30 49?09?4:9 :1 ,;;:49?492 , 90B !:9-EC0.@?4A0 I9/0;09/09? D4=0.?:= ?: C3,4= ?30 C:884??00, 3,A492 >429414.,9? 149,9.4,7 ,.@809. '30 8,49 =0>;:9>4-474?40> :1 ?30 A@/4? C:884??00 ,=0 ?:: =0A40B, ,>>0>> ,9/ ,;;=:A0 ?30 ,99@,7 =0;:=?>, ?30 3,71-D0,= 149,9.4,7 =0;:=?> ,9/ ,77 :?30= 149,9.4,7 491:=8,?4:9 ;@-74>30/ -D ?30 C:8;,9D := =070,>0/ ?: ?30 8,=60?; • ,>>4>? ?30 B:,=/ 49 =0A40B492 ?30 0110.?4A090>> :1 ?30 :=2,94>,?4:9G> 49?0=9,7 .:9?=:7 09A4=:9809? .:A0=492: • o0110.?4A090>> ,9/ 0114.409.D :1 :;0=,?4:9>; o=074,-474?D :1 149,9.4,7 =0;:=?492; ,9/ o.:8;74,9.0 B4?3 ,;;74.,-70 7,B> ,9/ =02@7,?4:9>; :A0=>00 ?30 0110.?4A0 :;0=,?4:9 :1 ?30 C:8;,9DG> =4>6 8,9,20809? 1=,80B:=6; • =0.:8809/ ?: ?30 B:,=/ ?30 ,;;:49?809?, =08:A,7 ,9/ =08@90=,?4:9 :1 ?30 0C?0=9,7 ,@/4?:=>, ,9/ =0A40B ?30 ?0=8> :1 ?304= 092,20809?, ?30 >.:;0 ,9/ <@,74?D :1 ?30 ,@/4? ,9/ ,>>0>> ?304= ;0=1:=8,9.0; • .:9>4/0= ?30 49/0;09/09.0 ,9/ .:8;0?09.0 :1 ?30 0C?0=9,7 ,@/4?:= :9 ,9 :92:492 -,>4>; • =0A40B ,9/ ,;;=:A0 ?30 70A07 :1 9:9-,@/4? >0=A4.0> ;=:A4/0/ -D ?30 G=:@;G> 0C?0=9,7 ,@/4?:=> ,9/ 09>@=0 ?3,? 4? /:0> 9:? ,/A0=>07D 48;,.? :9 ?30 ,@/4?:=>G 49/0;09/09.0; • =0A40B ,9/ 8:94?:= ,77 =07,?0/ ;,=?D ?=,9>,.?4:9> ,9/ ,>>0>> ?304= ;=:;=40?D; ,9/ • =0;:=? ?: ?30 B:,=/ :9 8,??0=> =070A,9? ?: ?30 A@/4? C:884??00G> =:70 ,9/ =0>;:9>4-474?40>. • I9 1@71477492 4?> =0>;:9>4-474?40>, ?30 A@/4? C:884??00: =0.04A0> =02@7,= =0;:=?> 1=:8 8,9,20809? ,9/ ?30 C:8;,9DG> 0C?0=9,7 ,@/4?:=>; • 800?> B4?3 ?30 0C?0=9,7 ,@/4?:=> ,? 70,>? ?B4.0 , D0,=, := 8:=0 1=0<@09?7D 41 90.0>>,=D, ,9/ 8,D 3:7/ 49-.,80=, /4>.@>>4:9> B4?3 ?30 0C?0=9,7 ,@/4?:=> B4?3:@? ?30 ;=0>09.0 :1 8,9,20809?; • 23

=0A40B> ?30 ;=:.0>>0> ?30 CE" ,9/ C3401 F49,9.4,7 "114.0= (CF") 3,A0 49 ;7,.0 ?: >@;;:=? ?304= ,99@,7 .0=?414.,?4:9> ?: ?30 B:,=/; • =0A40B> ,9D >429414.,9? /4>,2=00809?> -0?B009 ?30 ,@/4?:=> ,9/ :1 B30?30= ?30D 3,A0 -009 =0>:7A0/; ,9/ ,9,20809?, 4==0>;0.?4A0 • ;=:A4/0> ?30 0C?0=9,7 ,@/4?:=> B4?3 , .70,= 7490 :1 /4=0.? .:88@94.,?4:9 ,? ,9D ?480 ?: 04?30= ?30 C3,4= :1 ?30 A@/4? C:884??00 :=, 41 90.0>>,=D, ?30 C3,4= :1 ?30 B:,=/. • '30 A@/4? C:884??00 3,> ,@?3:=4?D, B4?349 ?30 >.:;0 :1 4?> =0>;:9>4-474?40>, ?: >006 ,9D 491:=8,?4:9 4? =0<@4=0> 1=:8 ,9D 08;7:D00 := 0C?0=9,7 ;,=?D. 4.2 CE"/ CF" /0.7,=,?4:9> B01:=0 ?30 A@/4? C:884??00 =0.:8809/>, ,9/ ?30 B:,=/ ,;;=:A0>, ?30 C:8;,9DG> 149,9.4,7 >?,?0809?> 1:= ?30 3,71 D0,= := 1@77 D0,=, ?30 CE" ,9/ CF" ,=0 =0<@4=0/ ?: ;=:A4/0 , /0.7,=,?4:9 ?3,?, 49 ?304= :;494:9, ?30 149,9.4,7 =0.:=/> :1 ?30 G=:@; 3,A0 -009 ;=:;0=7D 8,49?,490/ ,9/ ?3,? ?30 149,9.4,7 >?,?0809?> .:8;7D B4?3 ?30 ,;;=:;=4,?0 ,..:@9?492 >?,9/,=/> ,9/ 24A0 , ?=@0 ,9/ 1,4= A40B :1 ?30 149,9.4,7 ;:>4?4:9 ,9/ ;0=1:=8,9.0 :1 ?30 09?4?D ,9/ ?3,? ?30 :;494:9 3,> -009 1:=80/ :9 ?30 -,>4> :1 , >:@9/ >D>?08 :1 =4>6 8,9,20809? ,9/ 49?0=9,7 .:9?=:7 B34.3 4> :;0=,?492 0110.?4A07D. &@.3 , /0.7,=,?4:9 3,> -009 ;=:A4/0/ 49 =0>;0.? :1 ?30 20 9 1@77 D0,= 149,9.4,7 >?,?0809?>. 4.3 EC?0=9,7 ,@/4?:=> '30 C:8;,9D ;:74.D 4> ?: ,;;:49? 0C?0=9,7 ,@/4?:=> B3: .70,=7D /08:9>?=,?0 <@,74?D :1 >0=A4.0 ,9/ 49/0;09/09.0. '30 ;0=1:=8,9.0 :1 ?30 0C?0=9,7 ,@/4?:= 4> =0A40B0/ ,99@,77D ,9/ ,;;74.,?4:9> 1:= ?09/0= :1 0C?0=9,7 ,@/4? >0=A4.0> ,=0 =0<@0>?0/ ,> /0080/ ,;;=:;=4,?0, ?,6492 49?: .:9>4/0=,?4:9 ,>>0>>809? :1 ;0=1:=8,9.0, 0C4>?492 A,7@0 ,9/ ?09/0= .:>?>. #=4.0B,?0=3:@>0C::;0=> (H#BCI) B,> ,;;:49?0/ ,> ?30 0C?0=9,7 ,@/4?:= 49 2009. I? 4> #BCG> ;:74.D ?: =:?,?0 ,@/4? 70,/ 092,20809? ;,=?90=> :9 74>?0/ .:8;,940> ,? 70,>? 0A0=D 14A0 D0,=>. A9 ,9,7D>4> :1 100> ;,4/ ?: ?30 0C?0=9,7 ,@/4?:=>, 49.7@/492 , -=0,6-/:B9 :1 100> 1:= 9:9-,@/4? >0=A4.0>, 4> ;=:A4/0/ 49 0,.3 A99@,7 %0;:=? -:?3 49 ?30 D4=0.?:=>G %0;:=?> ,9/ 49 ?30 9:?0> ?: ?30 149,9.4,7 >?,?0809?>. I? 4> ?30 ;:74.D :1 ?30 0C?0=9,7 ,@/4?:=> ?: ;=:A4/0 ,9 ,99@,7 /0.7,=,?4:9 :1 ?304= 49/0;09/09.0 ?: ?30 A@/4? C:884??00 B34.3 4> =0;=:/@.0/ 49 ?30 C:8;,9DG> A99@,7 %0;:=?. '30 0C?0=9,7 ,@/4?:= ,??09/> ?30 C:8;,9DG> AG ,9/ 4> ,A,47,-70 ?: ,9>B0= >3,=03:7/0= <@0>?4:9> ,-:@? ?30 .:9/@.? :1 ?30 ,@/4? ,9/ ?30 ;=0;,=,?4:9 ,9/ .:9?09? :1 ?30 ,@/4? =0;:=?. #=49.4;70 5: ,60 ?4807D ,9/ -,7,9.0/ /4>.7:>@=0 '30 C:8;,9D 4> .:884??0/ ?: /4>>0849,?492 491:=8,?4:9 ?: >3,=03:7/0=> 49 , 1,4=, ?4807D ,9/ .:>? 0114.409? 8,990= ,9/ 3,> /0A07:;0/ , .:9?49@:@> /4>.7:>@=0 ,9/ >3,=03:7/0= .:88@94.,?4:9 ;:74.D ?: 09>@=0 .:8;74,9.0 B4?3 ?30 A&+ L4>?492 %@70> ,9/ ?30 !,?4:9,7 A>>:.4,?4:9 :1 &0.@=4?40> D0,70=> A@?:8,?0/ $@:?,?4:9 H!A&DA$I ?: 1,.474?,?0 0110.?4A0 .:88@94.,?4:9 B4?3 >3,=03:7/0=>. '34> ;:74.D 4> /4>.7:>0/ :9 ?30 C:8;,9D B0->4?0. 24

#=49.4;70 : %0>;0.? ?30 =423?> :1 >3,=03:7/0=> . *0->4?0 491:=8,?4:9 '30 C:8;,9D ;=:A4/0> =0,/D ,..0>> ?: 4?> >3,=03:7/0=> ,9/ 808-0=> :1 ?30 ;@-74. ?: 491:=8,?4:9 ,-:@? ?30 C:8;,9D ,9/ 4?> 2:A0=9,9.0 :9 4?> B0->4?0 BBB.2?2.:=;:=,?0..:8 B34.3 4> =02@7,=7D @;/,?0/ B4?3 7,?0>? 491:=8,?4:9. #=4.0 >09>4?4A0 491:=8,?4:9 4> :97D 7:,/0/ ?: ?30 B0->4?0 ,1?0= 4? 4> /@7D =070,>0/ ?: ?30 A&+ ,9/ !A&DA$. .2 I9A0>?:= =07,?4:9> ;=:2=,8 '30 C:8;,9D &0.=0?,=D 3,> -009 9:849,?0/ ,> ?30 ;0=>:9 =0>;:9>4-70 1:= .:88@94.,?4:9> B4?3 ?30 A&+ ,9/ !A&DA$. '34> =:70 49.7@/0> =0>;:9>4-474?D 1:= 09>@=492 .:8;74,9.0 B4?3 ?30 .:9?49@:@> /4>.7:>@=0 =0<@4=0809?> 49 ?30 A&+ L4>?492 %@70> ,9/ :A0=>00492 ,9/ .:-:=/49,?492 491:=8,?4:9 /4>.7:>@=0 ?: ?30 A&+, ,9,7D>?>, -=:60=>, >3,=03:7/0=>, ?30 80/4, ,9/ ?30 ;@-74.. A77 491:=8,?4:9 /4>.7:>0/ ?: ?30 A&+ 4> ;:>?0/ :9 ?30 C:8;,9DG> B0->4?0 ,> >::9 ,> 4? 4> /4>.7:>0/ ?: ?30 A&+. *309 ,9,7D>?> ,=0 -=4010/ :9 ,>;0.?> :1 ?30 G=:@;G> :;0=,?4:9>, ,9D 90B := =01=0>30/ 8,?0=4,7 @>0/ 49 ?30 ;=0>09?,?4:9 4> =070,>0/ ?: ?30 A&+ ,9/ ;:>?0/ :9 ?30 C:8;,9DG> B0->4?0. #=:.0/@=0> 3,A0 ,7>: -009 0>?,-74>30/ 1:= =0A40B492 B30?30= ,9D ;=4.0 >09>4?4A0 491:=8,?4:9 3,> -009 49,/A0=?09?7D /4>.7:>0/ ,9/, 41 >:, ?34> 491:=8,?4:9 4> ,7>: 4880/4,?07D =070,>0/ ?: ?30 8,=60?. .3 #,=?4.4;,?4:9 ,? 800?492> ': 092,20 B4?3 >3,=03:7/0=> ,9/ ?: 09.:@=,20 ;,=?4.4;,?4:9 ,? 800?492>, ?30 B:,=/ ;=:A4/0> 491:=8,?4:9 ?: >3,=03:7/0=> ,9/ ?30 8,=60? 49 >0A0=,7 B,D>: D4=0.?7D =070,>492 ,99:@9.0809?> B4?3 .:;40> :1 ?30>0 ,99:@9.0809?> 4880/4,?07D ;7,.0/ 49 ?30 ,99:@9.0809?> >0.?4:9 :1 ?30 B0->4?0. • '30 A99@,7 G090=,7 00?492 (AG ) ;=:A4/0> ,9 :;;:=?@94?D 1:= ?30 >3,=03:7/0=> ?: • .:88@94.,?0 B4?3 ?30 B:,=/ ?3=:@23 ;=0>09?,?4:9> :9 ?30 C:8;,9DG> -@>490>>0> ,9/ .@==09? ?=,/492. &3,=03:7/0=> ,=0 09.:@=,20/ ?: ,??09/ ?30 AG :;;:=?@94?D ?: ,>6 <@0>?4:9> :9 ,9D 8,??0=. ,9/ ?: @>0 ?30 '30 CE" =02@7,=7D 800?> 8,5:= 49A0>?:=> ?: @9/0=>?,9/ ?304= 4>>@0> ,9/ .:9.0=9>. !: 90B 8,?0=4,7 ;=4.0 >09>4?4A0 491:=8,?4:9 4> ;=:A4/0/ ,? >@.3 800?492>. "?30= !:9-0C0.@?4A0 D4=0.?:=> := ?30 CF" 8,D ,??09/ >@.3 800?492> 41 =0<@0>?0/. '30 CE" =0;:=?> ?: ?30 B:,=/ :9 ?30 8,??0=> /4>.@>>0/ ,? 800?492> B4?3 8,5:= 49A0>?:=>. • .4 E70.?=:94. .:88@94.,?4:9 B4?3 ?30 C:8;,9D ,9/ 4?> >3,=0 =024>?=D '30 C:8;,9DG> B0->4?0 ,7>: 09,-70> @>0=> ?: ;=:A4/0 100/-,.6 ,9/ 3,> ,9 :;?4:9 1:= >3,=03:7/0=> ?: =024>?0= ?304= 08,47 ,//=0>> 1:= /4=0.? 08,47 @;/,?0> :9 C:8;,9D 8,??0=>. A77 >3,=03:7/0=> ,=0 09?4?70/ ?: =0.04A0 , 3,=/ .:;D :1 ?30 C:8;,9DG> A99@,7 %0;:=?> B34.3 ,=0 ,7>: ,A,47,-70 1:= /:B97:,/ :9 4?> B0->4?0. 25

#=49.4;70 7: %0.:294>0 ,9/ 8,9,20 =4>6 7. %4>6 .:884??00 G4A09 ?30 9,?@=0 ,9/ >4E0 :1 ?30 C:8;,9DG> :;0=,?4:9>, ?30 B:,=/ 3,> /0.4/0/ ,2,49>? ?30 @>0 :1 , >0;,=,?0 =4>6 .:884??00. '30 B:,=/ 4> =0>;:9>4-70 1:= 09>@=492 ?3,? =4>6> ,9/ :;;:=?@94?40> ,=0 4/09?4140/ :9 , ?4807D -,>4> ,9/ ?3,? ?30 G=:@;G> :-50.?4A0> ,9/ ,.?4A4?40> ,=0 ,74290/ B4?3 ?3:>0 =4>6> ,9/ :;;:=?@94?40>. '30 B:,=/ -0740A0> ?3,? 4? 4> 48;:=?,9? 1:= ,77 D4=0.?:=> ?: -0 , ;,=? :1 ?34> ;=:.0>> ,9/ ?30 B:,=/ ?,60> @7?48,?0 =0>;:9>4-474?D 1:= ?30 =0.:294?4:9 ,9/ 8,9,20809? :1 =4>6. "A0=>423? :1 ?30 .:8;74,9.0 ,9/ .:9?=:7 80.3,94>8> 1:= =4>6 8,9,20809? 3,> -009 /0702,?0/ ?: ?30 A@/4? C:884??00 ?3=:@23 4?> C3,=?0=. 7.2 %4>6 8,9,20809? '30 C:8;,9D ?,60> , ;=:,.?4A0 ,;;=:,.3 ?: =4>6 8,9,20809? B34.3 4> 8,9,20/ -D ?30 >094:= 0C0.@?4A0> @9/0= 2@4/,9.0 ;=:A4/0/ -D ?30 B:,=/ ,9/ ?30 A@/4? C:884??00. '30 B:,=/ 4> =0>;:9>4-70 1:= >,?4>1D492 4?>071 ,99@,77D, := 8:=0 1=0<@09?7D ,> =0<@4=0/, ?3,? 8,9,20809? 3,> /0A07:;0/ ,9/ 48;70809?0/ , >:@9/ >D>?08 :1 =4>6 8,9,20809? ,9/ 49?0=9,7 .:9?=:7. '30 B:,=/ 4> ?: 09>@=0 ?3,? ?30=0 ,=0 ,/0<@,?0 ;:74.40> 49 =07,?4:9 ?: =4>6 8,9,20809?, .:8;74,9.0 ,9/ 49?0=9,7 .:9?=:7 >D>?08>. '3=:@23 ?30 A@/4? C:884??00, ?30D 8:94?:= ?30 C:8;,9DG> =4>6 8,9,20809? -D :A0=>00492 8,9,20809?G> ,.?4:9> 49 ?30 0A,7@,?4:9, 8,9,20809?, 8:94?:=492 ,9/ =0;:=?492 :1 8,?0=4,7 :;0=,?4:9,7, 149,9.4,7, .:8;74,9.0 ,9/ >?=,?024. =4>6>. I9 ;=:A4/492 ?34> :A0=>423?, ?30 C:884??00: =0A40B> ?30 1=,80B:=6 ,9/ 80?3:/:7:2D 1:= =4>6 4/09?414.,?4:9, ?30 /02=00 :1 =4>6 ?30 C:8;,9D 4> B477492 ?: ,..0;?, ?30 8,9,20809? :1 =4>6 ,9/ ?30 ;=:.0>>0> 1:= ,@/4?492 ,9/ 0A,7@,?492 ?30 C:8;,9DG> =4>6 8,9,20809? >D>?08; • =0A40B> C:8;,9D-B4/0 :-50.?4A0> 49 ?30 .:9?0C? :1 ?30 ,-:A0-809?4:90/ .,?02:=40> :1 .:=;:=,?0 =4>6; • =0A40B> ,9/, B30=0 90.0>>,=D, ,;;=:A0> 2@4/07490> ,9/ ;:74.40> 2:A0=9492 ?30 4/09?414.,?4:9, ,>>0>>809? ,9/ 8,9,20809? :1 ?30 C:8;,9DG> 0C;:>@=0 ?: =4>6; • =0A40B> ,9/ =0.:8809/> ?30 /0702,?4:9> :1 149,9.4,7 ,@?3:=4?40> ,9/ ,//=0>>0> ,9D 900/ ?: @;/,?0 ?30>0 ,@?3:=4?40> :9 ,9 ,99@,7 -,>4>; ,9/ • =0A40B> .:8;74,9.0 B4?3 ,2=00/ ;:74.40>. • '30 C:884??00 =0.:8809/> ,9D ,.?4:9> 4? /008> ,;;=:;=4,?0 ?: ?30 B:,=/ 1:= 4?> .:9>4/0=,?4:9. ,9,20809? 4> =0>;:9>4-70 1:= /0>429492, 48;70809?492 ,9/ =0;:=?492 :9 ?30 ,/0<@,.D :1 ?30 C:8;,9DG> =4>6 8,9,20809? ,9/ 49?0=9,7 .:9?=:7 >D>?08 ,9/ 3,> ?: =0;:=? ?: ?30 A@/4? C:884??00 :9 ?30 0110.?4A090>> :1: 2

?30 =4>6 8,9,20809? ,9/ 49?0=9,7 .:9?=:7 >D>?08 /@=492 ?30 D0,=; ,9/ • ?30 C:8;,9DG> 8,9,20809? :1 4?> 8,?0=4,7 -@>490>> =4>6>. •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j@90 20 9, ?30 %08@90=,?4:9 C:884??00 .:9>4>?0/ :1 D= L49/>,D *,601407/ (C3,4= :1 ?30 C:884??00), D= #,@7 K,>4,9, ,9/ = #0?0= %@-49>?049, B4?3 ?30 8,5:=4?D :1 ?30 .:884??00 9:? -0492 49/0;09/09? !:9-0C0.@?4A0 D4=0.?:=>. D= *,601407/ ,9/ = %@-49>?049 ,=0 9:9-0C0.@?4A0, B347>? :97D D= *,601407/ 4> .:9>4/0=0/ ?: -0 49/0;09/09?. '30>0 808-0=> B0=0 .:9>4/0=0/ -D ?30 B:,=/ ?: -0 ?30 H-0>? 14?I 1:= ?30 .:884??00 ?,6492 49?: ,..:@9? ?30 B:,=/ .:8;:>4?4:9. A> ?30 :;0=,?4:9> :1 ?30 C:8;,9D /0A07:;, ?30 B:,=/ B477 =0,>>0>> ?30 .:8;:>4?4:9 :1 ?30 %08@90=,?4:9 C:884??00. I? 4> 49?09/0/ ?3,? %08@90=,?4:9 C:884??00 .:8;:>4?4:9 B477 -0 =0A40B0/ ?34> D0,= ,9/ ?30 9@8-0= :1 49/0;09/09? /4=0.?:=> :9 ?30 %08@90=,?4:9 C:884??00 B477 49.=0,>0 ?: , 8,5:=4?D. '30 =08@90=,?4:9 ;:74.D, B34.3 >0?> ?30 =08@90=,?4:9 ?0=8> ,9/ .:9/4?4:9> 1:= ?30 CE" ,9/ :?30= >094:= 0C0.@?4A0>, 4> /0A07:;0/ -D ?30 %08@90=,?4:9 C:884??00 ,9/ ,;;=:A0/ -D ?30 B:,=/. A7?3:@23 , 808-0= :1 ?30 %08@90=,?4:9 C:884??00, ?30 CE" 4> 9:? 49A:7A0/ 49 ?30 /0?0=849,?4:9 :1 34> := 30= :B9 =08@90=,?4:9. '30 %08@90=,?4:9 C:884??00 4> 08;:B0=0/ ?: 49A0>?42,?0 ,9D 8,??0= -=:@23? ?: 4?> ,??09?4:9 ,9/ 3,> /4=0.? ,..0>> ?: ,9D 08;7:D00 := ,9D 49/0;09/09? 0C;0=?> ,9/ ,/A4>:=> ,> 4? .:9>4/0=> ,;;=:;=4,?0 49 :=/0= ?: 09>@=0 ?3,? 4?> =0>;:9>4-474?40> .,9 -0 .,==40/ :@? 0110.?4A07D. 27

8.2 !:9-0C0.@?4A0 ,9/ 0C0.@?4A0 =08@90=,?4:9 E,.3 08;7:D00 >429> , 1:=8,7 08;7:D809? .:9?=,.? ,? ?30 ?480 :1 ?304= ,;;:49?809? .:A0=492 , =,920 :1 8,??0=> 49.7@/492 ?304= /@?40>, =423?>, =0>;:9>4-474?40> ,9/ ,9D 09?4?70809?> :9 ?0=849,?4:9. '30 >?,9/,=/ .:9?=,.? =010=> ?: , >;0.414. 1:=8,7 5:-/0>.=4;?4:9. j:-/0>.=4;?4:9> ,=0 =0A40B0/ -D ?30 CE" :9 , =02@7,= -,>4> ,9/, B30=0 90.0>>,=D, 4> =0A4>0/ 49 .:9>@7?,?4:9 B4?3 ?30 =070A,9? 08;7:D00 ,9/ ?30 B:,=/. I91:=8,?4:9 :9 D4=0.?:=>G ,9/ EC0.@?4A0>G =08@90=,?4:9, 49.7@/492 ;=49.4;70> @>0/ ?: /0?0=8490 =08@90=,?4:9, 4> /4>.7:>0/ =02@7,=7D A4, A99@,7 %0;:=?> @9/0= ?30 >0.?4:9 H%08@90=,?4:9 %0;:=?I. EC0.@?4A0 D4=0.?:=> ,9/ >094:= 8,9,20809? 8,D =0.04A0 , 84C :1 14C0/ ,9/ A,=4,-70 ;,D, .:8;=4>492 -:?3 .,>3 ,9/ 0<@4?D 49.09?4A0>. !:9-0C0.@?4A0 D4=0.?:=> =0.04A0 100> :97D ,9/ /: 9:? =0.04A0 -:9@> ;,D809?> := 0<@4?D 49.09?4A0>. !:9-0C0.@?4A0 D4=0.?:=> /: 9:? =0.04A0 ?0=849,?4:9/=0?4=0809? -09014?>, B30=0,> 0C0.@?4A0 D4=0.?:=> ,9/ >094:= 8,9,20809? ,=0 09?4?70/ ?: ?0=849,?4:9 ;,D809?> 49 ,..:=/,9.0 B4?3 ?30 ?0=8> :1 ?304= .:9?=,.?>. 8.3 #=:34-4?4:9 :9 30/2492 :1 @9A0>?0//=0>?=4.?0/ 09?4?70809?> I9 ,..:=/,9.0 B4?3 C:8;,9D ;:74.D, ;,=?4.4;,9?> 49 0<@4?D--,>0/ =08@90=,?4:9 ;7,9> ,=0 9:? ;0=84??0/ ?: 09?0= 49?: ?=,9>,.?4:9> ?3,? B:@7/ 7484? ?30 0.:9:84. =4>6 :1 :;?4:9> := :?30= @9A0>?0/ 09?4?70809?>. D0?,47> 49 =07,?4:9 ?: ?34> ;:74.D ,=0 .:9?,490/ 49 ?30 >0.@=4?40> /0,7492 ;:74.D ,A,47,-70 :9 ?30 C:8;,9D B0->4?0. 28