;W`\ggXW_l \g [Tf UXVb`X Vb``bac_TVX \a g[x \awhfgel gb _T`Xag g[x WXTeg[ by T

Hasonló dokumentumok
PUBLIC VERSION i*! A1=52510!/;8<7-59?!

AXXc\aZ g[x :bvgbe 7jTl3 ;kcxe\`xagt_ ;i\wxavx ba?aixfg`xag \a FeXiXagTg\iX >XT_g[ FebWhVgf

64B47=4B 4BH=&J=5F4H=CB FI558F D4FHG 46H=CBG 4;F88A8BH. ETWX Tf by <XVX`UXe +,&,*+2. 9XgjXXa

BcXeTg\aZ\afgehVg\bafTaW\afgT Tg\ba\aYbe`Tg\ba. <7*9be`Tcc_\VTg\bafbYgjTeX

BcXeTg\aZ\afgehVg\baf. <7*fk9be`KCTcc_\VTg\bafbYgjTeX

9U^Q!EQ_U_`MZOQ!4 Q YQZ`![R3 GbeT_g! TaW >bbefxgf!ybe6.

KCD9B9K =;5e "WQ`MWN_^Q\ZW ^M\^\M^Q# >YTMWM^UZY 5Q\Z]ZW

(-, &6-,4 $8*,46-4,)6" #75.1,55 %0)./ $ , '+-,0,5

Appendix J Photographs of Project Area

N[X"UhV^"fgbcf"[XeX5"" Jhgg\aZ"T"iT_hX"ba"lbhe"iT_hX5" PTaZhTeW"`baXl"`Te^Xg"YhaWf

<a1jfiehr^kzl1 Lnb]^#gb#STUFl# O[X#XTfl#jTl#gb#fgTeg#T#cXaf\ba. Ubfie^1STUF U^e^\m1STUF

VÁLASZLAP ..BF.. KockaKobak Országos Matematikaverseny MINTA Kezdő feladat: KockaKobak Országos Matematikaverseny MINTA 2012.

:aw UX TU_X gb W\fVhff ixeut l [bj XTV[ YTVgbe TYYXVgf g[x ctggxea(

9]_^ZTe ( 9T`XV\ 7bXZS 6^^_TRXPaT ( 8P\PSXP\ BTVPRf HT_XT`

!"#$% % &' ()! &!BH# E.$ < < ^!"# ' c &! "! &! L Z 4S Z T\!T F E<6 6"+ #- : $1 -. F E< " (%!F &+" ' `!GF +'!" & &!G & (F V &!G +)%!* +", F &+ M#-. (/-

KockaKobak Országos Matematikaverseny 4. osztály

KockaKobak Országos Matematikaverseny 8. osztály

!"#$%& ' #$ ()*+,-. /0 1 ()*+ *+., :;- *+ & < DE FG *+ HIJKELM () E NO< %& *+ PQRS T%&#$ U*+VOW X Y V > () ()*+ Z[\ FG #]^_ :%&#

!"#$% &' (')*+,-. /0 &')1 * 234)56 78&'9:;, DE > FGHIJKLMN>O P>QRISTUVW XY O V> Z[ O;\ ]^ _`ab c C Y >Q F >QR 23!"#$%&' () *+,-./)0"1 ) 2)3 4


!" #$%& ' % '( ) # # '( KLMNO!./0 1 5 H `a )5,) ) ( ;E ) \ J& ] ) 1.^ <B5 ` A) c HE )`7? ; ^ ) : ;;/,!] ) 1.` A ^ N0< ;:)I >? 7) >S,-Q 1. M "2 1.` A M

?JG>HEGJ9:C8: 7:A<: G:A6I>K: 6J 9GD>I >CI:GC6I>DC6A

Megoldások augusztus 8.

HIVATALOS ÉRTESÍTÕ. 51. szám. A MAGYAR KÖZLÖNY MELLÉKLETE június 28., hétfõ. Tartalomjegyzék. III. Utasítások, jogi iránymutatások

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


!"#"" $%&'&%" &" " N 6 #$Q % -.== ;; 6 ( =% 3(- ), 58"%="" 0% % $!" % $ 1 " 1% $!"#"% %!!"-.= &!!"1""&% " "0" "&% %% "/"!"#"" $%&'&%" &" 6 X TT/ )* +,

1- /74:5-,- 1) *)36:- 243,0)1-.)+- ):< -<0/-3+-8,:,-;

!"!"#$%&' (! )*+,-./0 1 ( :; 1 ( AB!(CD+E F!G /H(IJ KL /M N AB!(O +E/0 /M 7 (!(4PQRSTUVW XY QVZ ([ \:] 1^ 1_(`abc G ( A!(L# RQ+,! V A


A nyugat-európai kódexek hatása a magyar polgári jogi kodifikációra fedezet- és szerzdésbiztosítéki jogunkban

/01 1!"#$%&'!"#$%&'!"#$%&' () *+,-./ 01! :; CDE 6?289:; FGHIJKLMN O C ( PKL QRSTUV :;*W? CXY? Z[R \] ^ _ `a?o :;?boc^ *+ *+!"#

Opel keréktárcsa katalógus személygépkocsikhoz

8. osztály november 18.

KockaKobak Országos Matematikaverseny 7. osztály

E F O P

!"#$%&' $ ()*+,-!./0 1! 234! :;! )*+1 < )* -7 7FG1HI? )*+J KLMN-! O 4 P! QRS 23)*+1,TU V W6 XY )*+J > )*+Z[!\]L^G2 _`)*ab c < 4?< )

[f(x) = x] (d) B f(x) = x 2 ; g(x) =?; g(f(x)) = x 1 + x 4 [

(* ( * 1 ) #1 ( ( -$ / $ * $ #

Együttműködési ajánlat Kulturális intézmények a köznevelés eredményességéért EFOP Véglegesített pályázat 3.0 (Forrás:

FTcP[ GgXST LaP]bXbc^a. =^^[FGKm =6. >PcP KWTTc. H^fTa FP]PVT\T]c " Fd[cX\PaZTc

C qe.rrrc ocboeitur t BHelpettrr leps,qoboro orerlecrbehhofo u. 09 yrbepx\aehhh fljrahob oopa3obatenbhbix MepoIIpHtTr{fi u otokhpobok 3a pyoexom

!"#$ %#"&$' ' &&#""" $!&!"#$&"!&"#!"#$%&' ()!"#$$!!#(!!" #! ) #! $ $ ) #! # *+,-./ :; *+)!#""! *+,-./01 <13./1=*+)!#"" $ >?

,- (.,-- /0 & # )11.!"#$%&'! "#$%&' ()*+,-. /01. * : ; 4 DED1 5 $< :1 F GHIJK LMNOE => PQ/RS LMNO TUVW XYS + $< 9:+ LMNO Z9 [\ ]^_`

! "#!! $ % & ' ' #!!"#$%&' #$ (!" 89:; 89, I H^4 89 F I % (, 45 $ :;a % [2 3=G 67O 89 X F X=,H^4 I % [ 2 ( % I % ]^ [ H 2 % (, ( %-0I?, % ;3 <= >?

OSRAM VIP Diamond Lamps. Projector Brand Projector Model No DMS-865 DMS-878

!"#$%" &' # ' $'## '$ '# # ( ) * )!"+,+,, - Y ' ()* +,- B &'. &'.+ +,?0>1! * 1! * E )! 5(61 78 $9 : ;> )1! 8 E & < ;7 6* ;> => 4 B ; A&B

!"#$# $ %&"'" " $$ " ()*)()* * P:QR2 M!" #$% -.()*0 ( 0 01 :- U "0 )*&' ) a C01 C 1 5D 6PW $T0&' ) a ( C ) ) a ( C Z[$T,-O. O P/

Fiat Ducato E6 árlista

5 EE:EuI'iB. 2(u. =(u -. ll. H-c. fr(o. N -ct üu! c 5. Ssss. + ErFÜ 6nE c. ^- x= ;CJ. g.-pö.=eee9e. äc5===sfüj 53c.EEP0J9+n' F*5tr89+t :=: - ^,

! "#$%&' (!)*+,-./0!"#$%& '! (! () *+,- 6789!: 2;!./01 <= :; CDE <! ) $ P;Q(? R %STUTV+WX Y)*+,-.

()*+, &'678 9( :; : 4. 89:; "# "# < < = ":> < A BC D<= E GH$2.34 H FGH CD IJ * K *L MD6 NO LM LPQ R ST" # <, RU D BV <WD <X Y, T H - C b9 T








CMYK!!"#$%& ' ( )*+,-./ 01 2" :; <= DE FGH. IJ&K L"MN#O P 7Q FGRS T U"VWGX DY C FGMN# I " P #$Z[ \N#$%&7Q FGRS# I &K L"]^#$_` a

Szigethalom Városi Szabadid központ


THE LITERARY WORKS OF ŚRĪMANTA ŚAṄKARADEVA AND MAHĀPURUṢA MĀDHAVADEVA

!"# $% & ' &#!"# $% &' ()*+,-./01' :; ) <& ' E : *B 1) F GF&HI ; J9:KLMNO ) $ '; ) & P QRS T$ U8 1VI W&)F(XJY KLMNO ) F P ( Y &)

IBM mobil számítógépek

!"#$%!!,-!"#$%&'!" %& ()*+,)-./ !"56!"789:!";!"+!" ;AB0C DE F56GH IJKL;!"MN* O J >? P)QRSTU VW%&XY <=;A \]^_`a b,9:ca ; L P? './0 3

2...Dpitő ipar 3. IIoző és or doga SCI * 15o 4 Szállitás hi ri özlé G bero eke dől orj 4o0

E F O P

!"#$ '!"#$ %& ()*+,-./ #$5 %& 67#$ %&89 :;5!"#$%&' ()*+,-#./ 01./" /23#"789: ;./ (#$% <= # B F 9 #GHIJK #LM! NO./" )*+,-#.

KockaKobak Országos Matematikaverseny 7. osztály

) %#!!" # $!"#$%&"'$ ()*+,-!./01 %! :;, < (CD%E '5 FGHIJKLMNO PMQ%RS.TU5! V (WX!%67#'Y! ( V Z[\]^_`a )8b67% c V K$ %CD 5T (% ( F

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

PRA/282000/M. SMART - HENGER Beépített szeleppel és érzékel vel PRA/282000/M Kétoldali m ködés Ø mm

/ & $ ' :$/&;. 2 */ * $ :$ 4. / $ && . 2 " #$% &'% ( + *, - $. /& 01 2 ) * & $ 1 2 ' ( ) *&$#$ ( * $"$

y + a y + b y = r(x),

A~ oldatok összetétele

Feladatok megoldással

R SR L 0 1 T % & $%&' $ $ ()* ) +,!" #$%&' $ ()$ $*+,-!"./ :; BCDE FGHIJK LMNO!?PQRS T UQ?VW XY 45 5 Z ]^ W _?]^ `a 35 bc )

Boros Zoltán február

AES kriptográfiai algoritmus

!"#$% $ &!'!()*+,-!+., -!&5 4!+ 32$$ 6,.32!$









5. Trigonometria. 2 cos 40 cos 20 sin 20. BC kifejezés pontos értéke?

KockaKobak Országos Matematikaverseny 5. osztály

Együttműködési ajánlat A társadalmi kohézió erősítése az egyházak közösségfejlesztő tevékenységének bővítésével EFOP Pályázati tervezet 2.

!"#$ %#"&$' ' &&#""" $!&!"#$&" &""!"#$%&' ()*+,-./0!"#$$( #!"#$%&' #! #! ) #! #! ) #! ) $ # 1 234)!$""$#! :; 34)!$""$#$ 1 <34)!$""# =>! #

Italnagykereskedés. Vendéglátóknak, Kiskereskedõknek Siófok, Dózsa Gy. u Tel.: 84/ /

!"#$!##%&%' ($"#)*+,-./0!0#%0#1,234

KockaKobak Országos Matematikaverseny osztály

LEGYEN MÁS A SZENVEDÉLYED!


Áttekintés a felhasznált lineáris algebrai ismeretekről.

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

Átírás:

EIJTM WN KWV\MV\[ CagebWhVg\ba ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 0.+ GTe^Xg bixei\xj+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 4 /+ Bbfc\gT_f TaW [XT_g[VTeX fxei\vxf+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++./ 0+ Hhef\aZ fxei\vxf ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++.5 1+ @haxet_ fxei\vxf TaW VeX`Tgbe\T+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ /2 2+?WhVTg\ba ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 0-3+ >TgT VXageXf++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 02 4+ =Te cte^f +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 1/ 5+ Hba*VbeX \ayetfgehvghex TffXgf \a CgT_l++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 13 6+ Hba*VbeX \aixfgbef++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 32.-+ =beex_tg\ba TaT_lf\f+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 36 ;Ubhg \afc\etg\t ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 42 ;Ubhg <bax \?exwx +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 43.

>CM=F;CG?L7 N[X \aybe`tg\ba) WTgT TaW TaT_lf\f VbagT\aXW \a g[\f WbVh`Xag &g[x!=bagxag!' WbXf abg Vbafg\ghgX TWi\VX TaW \f Ul \gf atghex fx_xvg\ix TaW \aw\vtg\ix) TaW `Tl UX fhu]xvg gb V[TaZX+ MNG=< FgW+ &g,t \afc\etg\t' &g[x!=b`ctal!' [Tf `TWX extfbatu_x XaWXTibhef gb XafheX g[x TVVheTVl by g[x =bagxag) [bjxixe) \g `T^Xf ab jteetagl be ZhTeTagXX by Tal ^\aw) XkceXff be \`c_\xw) Tf gb \gf Vb`c_XgXaXff) TVVheTVl be fh\gtu\_\gl+ LXV\c\Xagf TeX XaVbheTZXW gb hawxegt^x g[x\e bja WhX W\_\ZXaVX be fxx^ cebyxff\bat_ TWi\VX+ N[X exv\c\xag TV^abj_XWZXf g[tg g[x =bagxag `Tl VbagT\a \atvvhetv\xf be Xeebef TaW g[x =b`ctal XkceXff_l XkV_hWXf _\TU\_\gl Ybe Tal fhv[ \atvvhetv\xf be Xeebef gb g[x Yh Xfg XkgXag cxe`\ggxw Ul _Tj+ N[X hfx by g[x =bagxag Ul g[x exv\c\xag \f Xag\eX_l Tg [\f,[xe bja e\f^) Ybe j[\v[ g[x =b`ctal f[t abg UX _\TU_X Ybe Tal _bff be WT`TZX \av_hw\az j\g[bhg _\`\gtg\ba) \aw\exvg be VbafXdhXag\T_ WT`TZXf) be Tal _bff be WT`TZX j[tgfbxixe Te\f\aZ Yeb` g[x _bff by WTgT be ceby\gf Te\f\aZ bhg by) be \a VbaaXVg\ba j\g[ g[x =bagxag+ Cg \f g[x exv\c\xag%f exfcbaf\u\_\gl gb XafheX g[tg g[x =bagxag `XXgf \gf bja fcxv\y\v exdh\ex`xagf" /

Introduction N[X Z_bUT_ Y\aTaV\T_ Ve\f\f by /--4*/--5 ge\zzxexw T `bix Ul \afg\ghg\bat_ \aixfgbef TaW ce\itgx Xdh\gl YhaWf gbjtewf ZeXTgXe Vb`cXg\g\ba Ybe getw\g\bat_ ZeXXaY\X_W \ayetfgehvghex TffXgf g[ebhz[bhg g[x?o+ N[\f [Tf Vbage\UhgXW gb fgexazg[xa\az g[x exchgtg\ba by \ayetfgehvghex Tf Ta T_gXeaTg\iX TffXg V_Tff) TccXT_\aZ gb \aixfgbef UXVThfX by \gf UTee\Xef gb Xagel _baz*gxe` VTf[ Y_bjf TaW exf\_\xavx gb Uhf\aXff VlV_X Y_hVghTg\baf+ M\aVX g[xa) g[x TiT\_TU\_\gl by \axkcxaf\ix VTc\gT_ g[ebhz[ T _TeZX ah`uxe by axj TaW WXW\VTgXW \ayetfgehvghex YhaWf \a T _bj \agxexfg etgx Xai\eba`Xag [Tf Vbage\UhgXW gb Y\XeVX Vb`cXg\g\ba T`baZfg fhv[ \aixfgbef TaW [Tf chg fxixex cexffhex ba ce\vxf Ybe getw\g\bat_ \ayetfgehvghex TffXgf+ ;W`\ggXW_l \g [Tf UXVb`X Vb``bac_TVX \a g[x \awhfgel gb _T`Xag g[x WXTeg[ by T c\cx_\ax by VbeX \ayetfgehvghex WXT_f+ Q[\_X g[x fvt_x by g[\f _TV^ by bccbegha\g\xf \f bygxa XkTZZXeTgXW) \g \f hawxa\tu_x g[tg ZeXXaY\X_W ceb]xvg Y\aTaVX WXT_f TeX _Xff YeXdhXag gbwtl g[ta g[xl jxex) Ybe XkT`c_X) \a g[x [XlWTl by g[x OEof Je\iTgX @\atavx Ca\g\Tg\iX &J@C' \a g[x _TgX.66-f TaW XTe_l /---f+ ;f T exfh_g) \aixfgbef [TiX _bb^xw Tg g[x j\wxe fxvbawtel `Te^Xg) \av_hw\az aba* getw\g\bat_ fxvgbef) j[\v[ f[tex g[x V[TeTVgXe\fg\Vf by \ayetfgehvghex TffXgf UX\aZ TffXg* UTV^XW TaW [Ti\aZ _baz gxe` VTf[ Y_bjf+ CaiXfgbef [TiX _XTeag gb TW]hfg g[x\e TccXg\gX Ybe e\f^ TaW XkcXVgTg\ba by cbgxag\t_ l\x_w) j\g[ fhv[ aba*vbex TffXgf [Ti\aZ ZeXTgXe e\f^ g[ta VbeX \ayetfgehvghex TaW bygxa byyxe\az [\Z[Xe exgheaf+ N[XfX X_XiTgXW exgheaf `Tl abg UX TiT\_TU_X \a g[x _bazxe gxe` Tf Vb`cXg\g\ba [XTgf hc) fb \g \f \a g[x ce\itgx \aixfgbeof \agxexfgf gb XagXe g[xfx fxvgbef UXYbeX g[xl UXVb`X XkVXff\iX_l Vb``bW\g\fXW+ 8QO]ZM )2 5WZM ^[ VWV&KWZM LMIT NTW_ QV \PM 7F #*()- b B) *()0$ /2 NeTafTVg\ba ib_h`x &OM> Ua' /-.2.- 2 - /-.2 /-.3 /-.4 K. /-.5 =bex Hba*=beX 7INK>@' DHLJDK<MD<! $"#& 0

N[\f gexaw [Tf _XW gb T Ve\g\VT_ ex*tffxff`xag by j[tg Vbafg\ghgXf \ayetfgehvghex) Tf Ta \avextf\az ah`uxe by axj TffXgf byyxe\az _baz gxe` fgtu_x VTf[ Y_bjf TeX \avbecbetgxw hawxe g[\f WXY\a\g\ba+ N[X fxctetg\ba by VbeX TaW aba*vbex \ayetfgehvghex TffXgf \f \avextf\az_l TWbcgXW gb `T^X fxafx by T etc\w_l V[TaZ\aZ `Te^Xg+ N[XeX \f) [bjxixe) ab VbafXafhf ba j[tg f[bh_w UX \av_hwxw \a g[xfx VTgXZbe\Xf+ @be \ayetfgehvghex TffXgf gb UX exztewxw Tf VbeX) g[xl f[bh_w Xk[\U\g VXegT\a f[texw YXTgheXf) fhv[ Tf byygt^x TZeXX`Xagf be VbaVXff\baf j\g[ fbixex\za be Y\aTaV\T l fgtu_x Xag\g\Xf+ N[Xl T_fb UXaXY\g Yeb` Ta b_\zbcb_\fg\v cbf\g\ba j\g[\a T `Te^Xg Ybe XffXag\T_ fxei\vxf+ BXaVX) g[x VehV\T_ V[TeTVgXe\fg\Vf by VbeX \ayetfgehvghex TffXgf TeX g[tg g[xl byyxe VTf[*Y_bj fgtu\_\gl TaW ZT\a Yeb` T ex_\tu_x _XZT_ YeT`Xjbe^+ =_Tff\V XkT`c_Xf by VbeX \ayetfgehvghex TffXgf TeX getafcbeg \ayetfgehvghex ceb]xvgf fhv[ Tf gb *ebtwf+ BbjXiXe) WXY\a\aZ aba*vbex TffXgf \f [\Z[_l fhu]xvg\ix+ Q[\_X g[xl hfht l cbffxff fxixet_ by g[x YXTgheXf W\fVhffXW TUbiX) g[xl ZXaXeT l [TiX T ZeXTgXe XkcbfheX gb ZXbcb_\g\VT_) VbafgehVg\ba) `Te^Xg) gxv[ab_bzl TaW exzh_tgbel e\f^f+ HXiXeg[X_Xff) j[tg VTgXZbe\fXf g[xfx fxvgbef Tf \ayetfgehvghex TffXgf \f g[x cexfxavx by Xagel UTee\Xef TaW g[x e VTc\gT_*\agXaf\iX atghex+ AXbZeTc[\VT l) g[x?hebcxta Oa\ba \av_hwxf TggeTVg\iX XVbab`\Xf Ybe \a\g\t_ aba*vbex \ayetfgehvghex \aixfg`xag) Tf g[xfx ]he\fw\vg\baf ZXaXeT l cexfxag ex_tg\ix_l _bj ZXbcb_\g\VT_ TaW XVbab`\V e\f^f TaW `bex `TgheX exzh_tgbel YeT`Xjbe^f+ Hba*VbeX TffXgf VTa UX UebTW_l W\i\WXW \agb gjb VTgXZbe\Xf " gxv[ab_bzl*we\ixa aba*vbex " bccbegha\gl*we\ixa aba*vbex Iccbegha\gl*We\iX aba*vbex TffXgf TeX abg[\az axj) Uhg V[TaZXf gb exzh_tg\ba) WX`bZeTc[\Vf TaW \aabitg\ba [TiX VeXTgXW bccbegha\g\xf Ybe \afg\ghg\bat_ \aixfgbef gb XagXe g[xfx fxvgbef+ GTal by g[xfx TffXgf) fhv[ Tf [bfc\gt_f) eb \az fgbv^ TaW ext_ XfgTgX [TiX cebixa TggeTVg\iX Tf TffXg V_TffXf Ybe `Tal lxtef) Uhg TeX abj \avextf\az_l Vbaf\WXeXW \aixfgtu_x Ul \ayetfgehvghex \aixfgbef+ @be XkT`c_X) [bfc\gt_f TaW [XT_g[VTeX TeX cteg by T [\Z[_l exzh_tgxw \awhfgel TaW \av_hwx \avextf\az_l it_htu_x TffXgf \a g[x\e fcxv\t_\fxw Xdh\c`Xag) YTV\_\g\Xf TaW fxei\vxf) gb g[x cb\ag g[tg g[xl TeX bygxa Vbaf\WXeXW VbeX TffXgf+ Hhef\aZ [b`xf [TiX TggeTVgXW \aixfgbef WhX gb g[x?oof TZ\aZ cbch_tg\ba TaW 1

ex_tg\ix_l [\Z[ W\fcbfTU_X \avb`x Tf jx Tf g[x [\Z[*l\X_W\aZ TaW Yh l*`tatzxw atghex by g[xfx TffXgf+ Ca g[x OE) et\_ bcxetgbef TjTeWXW YeTaV[\fXf gb eha fxei\vxf ba g[x axgjbe^ TeX exdh\exw gb _XTfX eb \az fgbv^ Yeb` fcxv\t_\fg eb \az fgbv^ bcxetg\az Vb`cTa\Xf &LIM=If') j[\v[ [Tf VeXTgXW bccbegha\g\xf gb \aixfg \a fhv[ Uhf\aXffXf+ Lb \az fgbv^ exgheaf ba \aixfg`xag [TiX T_fb Yb bjxw V[TaZXf \a VbafgehVg\ba gxv[ab_bzl g[tg [TiX `TWX g[x` T `bex i\tu_x TffXg V_Tff) Uhg g[xl T_fb YTVX [\Z[ cexffhex ba \aixfgbef gb \`cebix bcxetg\bat_ cxeybe`tavx TaW ex`t\a ih_axetu_x gb cb_\vl V[TaZXf+ LXT_ XfgTgX \f jx hawxefgbbw Ul _TeZX \afg\ghg\baf) j\g[ [\Z[ VTc\gT_ Vbfgf TVg\aZ Tf T [\Z[ UTee\Xe gb Xagel+ N[\f TffXg V_Tff [Tf T _bj VbeeX_Tg\ba j\g[ bg[xe TffXgf T bj\az \afg\ghg\baf gb W\iXef\Yl g[x\e cbegyb_\bf+ ; ah`uxe by bccbegha\gl*we\ixa aba*vbex fxvgbef [TiX f\`\_te V[TeTVgXe\fg\Vf+ =Te cte^f) Ybe XkT`c_X) TeX T fhufxvgbe by ext_ XfgTgX WhX gb g[x\e fgtu_x exixahx fgext`f TaW ex_tg\ix_l f\`c_x VbafgehVg\ba+ BbjXiXe) g[xl TeX ih_axetu_x gb V[TaZXf \a Vbafh`Xe gexawf \a g[x\e fcxv\y\v ZXbZeTc[\VT bvtg\ba+ >TgT VXageXf) T_baZ j\g[ UebTWUTaW TaW f`teg `XgXef) TeX ex_tg\ix_l axj TffXgf UebhZ[g \agb Xk\fgXaVX Ul gxv[ab_bz\vt_ WXiX_bc`Xagf TaW exzh_tg\baf+ CaVeXTf\aZ ex_\tavx ba g[x \agxeaxg Tf T hg\_\gl Ybe Uhf\aXffXf TaW \aw\i\wht_f XafheXf g[tg WTgT VXageXf TaW UebTWUTaW abj cebi\wx Ta XffXag\T_ fxei\vx gb fbv\xgl+ Ca g[\f exfcxvg) g[x e\fx \a UebTWUTaW \aixfg`xag [Tf UXXa dh\gx WeT`Tg\V+ <ebtwutaw \ayetfgehvghex [Tf cxeybe`xw jx \a ]he\fw\vg\baf fhv[ Tf @etavx TaW GXk\Vb) j[xex ZbiXea`Xagf jx_vb`x ce\itgx fxvgbe \aixfg`xag TaW exzh_tg\ba \f fgext`_\axw+ BbjXiXe) \g [Tf fgehzz_xw gb UXVb`X XYYXVg\iX Tf Ta TffXg V_Tff \a Vbhage\Xf _\^X AXe`Tal) j[xex exz\bat_ exzh_tg\ba TaW T ZbiXea`Xag*UTV^XW \avh`uxag) >XhgfV[X NX_X^b`) [Tf _\`\gxw g[x cxaxgetg\ba by bg[xe c_tlxef+ M\`\_Te_l \a g[x OE) g[x \ayetfgehvghex jtf Ybe T _baz g\`x bjaxw Ul T fx`\*ce\itgx Vb`cTal) IcXaeXTV[+ BbjXiXe) bavx \afgt XW) g[x dhtf\*`babcb_\fg\v _baz*_tfg\az atghex by g[x VTU_Xf TaW axgjbe^ TffXgf [Tf `TWX g[x` T jbeg[j[\_x \aixfg`xag+ GbeX fbc[\fg\vtgxw WTgT VXageX YTV\_\g\Xf byyxe T etazx by fxei\vxf gb \avextfx g[x\e it_hx Tf Ta TffXg*V_Tff Uhg) \a T f\`\_te jtl gb VTe cte^f) g[xl TeX f\`c_x gb Uh\_W+ Ca Xkc_be\aZ g[x cbgxag\t_ by gxv[ab_bz\vt l We\iXa TffXg V_TffXf) jx VTa XkcXVg g[x ah`uxe by axj \ayetfgehvghex TffXgf gb XkcTaW etc\w_l Z\iXa g[x ctvx by V[TaZX g[tg V[TeTVgXe\fXf gxv[ab_bz\vt_ getafybe`tg\baf+ 2

FbaZ*gXe` \aixfgbef `hfg g[xexybex UX cexctexw Ybe \awhfge\xf gb V[TaZX Uhf\aXff `bwx_f ba T 2*.- lxte UTf\f) T `hv[ f[begxe g\`x cxe\bw g[ta Tag\V\cTgXW Ul \aixfgbef \a /-*0- lxte VbaVXff\baf) TaW fb `hfg ZhTeW TZT\afg Tal cbgxag\t_ \`ctvg ba _baz gxe` VTf[ Y_bjf+ N[X BTeiTeW <hf\axff LXi\Xj T_fb YbhaW \a /-.3 g[tg) pwxfc\gx g[x \`cbegtavx by TVVheTgX_l \WXag\Yl\aZ TaW VT_Vh_Tg\aZ Vb`cTal flaxez\xf) W\_\ZXaVX jbe^ YeXdhXag_l exfh_gf \a Ta bixe_l bcg\`\fg\v i\xj by g[x exixahx flaxezl bccbegha\gl+q @be XkT`c_X) g[x \avextf\az TWbcg\ba by X_XVge\V ix[\v_xf &?Pf' j\ Ue\aZ j\g[ \g g[x axxw Ybe T axgjbe^ by V[TeZ\aZ cb\agf gb UX Uh\_g TVebff V\gl TaW [\Z[jTl \ayetfgehvghex+?ixa `bex f\za\y\vtag_l) axj UeXT^g[ebhZ[ gxv[ab_bz\xf) fhv[ Tf Thgb`TgXW ix[\v_xf &;Pf') j\ [TiX T f\za\y\vtag \`ctvg ba T ah`uxe by Xk\fg\aZ TffXgf) etaz\az Yeb` ebtwf TaW VTe cte^f gb WTgT VXageXf+ 3

1. Market overview Ia g[x UTf\f by g[x TaT_lf\f \a\g\t l hawxegt^xa) f\k aba*vbex TffXg V_TffXf g[tg cebi\wx T [\Z[Xe cbgxag\t_ by WXT_ TVg\i\gl \a g[x fxvbawtel `Te^Xg TeX g[x fhu]xvg by Yheg[Xe TaT_lf\f7 " [bfc\gt_ TaW [XT_g[VTeX fxei\vxf " ahef\az fxei\vxf " YhaXeT_ fxei\vxf TaW VeX`Tgbe\T " XWhVTg\ba " WTgT VXageXf " VTe cte^f N[X YTVgbef We\i\aZ g[x WXiX_bc`Xag by g[xfx f\k fxvgbef TeX dh\gx W\YYXeXag+ Bbfc\gT_ TaW [XT_g[VTeX fxei\vxf TeX TeZhTU_l g[x `bfg `TgheX+?iXa Vbaf\WXe\aZ g[x` Tf aba*vbex TffXgf `Tl UX VbagXag\bhf) Z\iXa g[x\e ex_tg\ix `Tghe\gl+ N[Tg UX\aZ ft\w) [bfc\gt_ T_f TaW [XT_g[VTeX fxei\vxf) gbzxg[xe j\g[ ahef\az fxei\vxf) TeX aba*vbex TffXgf Yeb` g[x cxefcxvg\ix by _bazxe gxe` \ayetfgehvghex \aixfgbef j[b _bb^ Ybe _bjxe exgheaf TaW _Xff e\f^) etg[xe g[ta) Ybe XkT`c_X) ce\itgx Xdh\gl YhaWf j[b [TiX T f[begxe gxe` TaW [\Z[Xe exghea cxefcxvg\ix+ N[Xl TeX g[xexybex _\^X_l gb TggeTVg Yheg[Xe \agxexfg Yeb` g[x Ybe`Xe) Z\iXa g[x WX`bZeTc[\V getafybe`tg\ba VheeXag_l gt^\az c_tvx TVebff g[x?o+ N[X ft`x gexaw VTa UX bufxeixw \a YhaXeT_ fxei\vxf TaW VeX`Tgbe\T+ GXTaj[\_X) ce\itgx fv[bb_f TeX WXfg\aXW gb Zebj \a ctegf by g[x?o UXVThfX by Ta \avextf\az cxevxcg\ba by g[x WXgXe\beTg\aZ dht_\gl by fgtgx fv[bb_f) g[bhz[ \a fb`x `Te^Xgf) fhv[ Tf g[x OE) g[xl jbh_w UX Vbaf\WXeXW gb UX \a g[x fxvbawtel `Te^Xg fgtzx+ N[X Zebjg[ by WTgT VXageXf \f `T\a_l WhX gb g[x \avextf\az axxwf by g[x W\Z\gT_ XVbab`l+ N[\f gexaw \f fxg gb \agxaf\yl XkcbaXag\T l j\g[ g[x TWbcg\ba by 2A UebTWUTaW) g[x `T\a We\iXe UX[\aW g[x Yh WXc_bl`Xag by g[x CagXeaXg by N[\aZf &CbN'+ =Te cte^f TeX Tabg[Xe TffXg V_Tff g[tg Vbh_W UX f\za\y\vtag_l \`ctvgxw Ul bazb\az `bu\_\gl getafybe`tg\baf+ ;f g[xex TeX fg\ W\YYXeXag bc\a\baf ba g[x \`ctvg by?pf) ;Pf TaW bg[xe f`teg `bu\_\gl fb_hg\baf ba getafcbeg) \g \f lxg gb UX fxxa [bj VTe cte^f j\ UX getafybe`xw+ Ca g[x f[beg TaW `XW\h` gxe`) g[x e\f\az TWbcg\ba by ;Pf TaW?Pf Vbh_W _XTW gb g[x X`XeZXaVX by fhuheuta `XZT VTe cte^f) j[\v[ jbh_w exfh_g \a T cebybhaw \`ctvg ba g[x getw\g\bat_ Uhf\aXff `bwx_f by VTe cte^ bcxetgbef+ 4

8QO]ZM *2 6MIT NTW_ Ja [MK\WZ #B) *()- b B) *()0$ >XT_ Vbhag 5-4- 3-2- 1-0- /-.- -?WhVTg\ba Bbfc\gT_f TaW [XT_g[VTeX Hhef\aZ fxei\vxf >TgT VXageXf =Te cte^f @haxet_ fxei\vxf 5 4 3 2 1 0 /. - NeTafTVg\ba ib_h`x 7INK>@' DHLJDK<MD<! $"#& >XT_ Vbhag NeTafTVg\ba ib_h`x &OM> Ua' @\ZheX / \aw\vtgxf g[xfx fxvgbefo WXT_ Y_bj TVebff g[x g\`x*cxe\bw+ N[XeX \f T Vbafc\Vhbhf f\`\_te\gl \a g[x WXT_ Vbhag TaW getaftvg\ba ib_h`xf by g[x ahef\az fxei\vxf TaW [bfc\gt_f) j[\v[ Vbh_W UX Tgge\UhgXW gb g[x f\`\_te We\iXef \a g[x `Te^Xg TaW g[x f\`\_te TffXg glcxf \aib_ixw j\g[ g[x fxvgbe+ >TgT VXageXf TaW VTe cte^f) g[x ext_ XfgTgX fgl_x \aixfg`xagf) TeX T_fb ex_tg\ix_l f\`\_te \a etg\b by getaftvg\ba ib_h`x gb WXT_ Vbhag) Uhg g[xex [Tf UXXa `bex TVg\i\gl \a WTgT VXageXf bixet ) cxe[tcf hawxe_\a\az g[x ext_\ftg\ba by Ta hezxag axxw Ybe `bex WTgT fgbetzx TVebff g[x Vbag\aXag+ 8QO]ZM +2 ;Q[\WZQKIT LMIT NTW_ #B) *()- b B) *()0$ /2 /- >XT_ Vbhag.2.- 2 -?WhVTg\ba Bbfc\gT_f TaW [XT_g[VTeX Hhef\aZ fxei\vxf >TgT VXageXf =Te cte^f @haxet_ fxei\vxf /-.2 /-.3 /-.4 K. /-.5 7INK>@' DHLJDK<MD<! $"#& 5

@\ZheX 0 f[bjf g[x WXiX_bc`Xag by g[x f\k fxvgbef \a exvxag lxtef+ <TV^ \a /-.2) g[xex jtf ZeXTg TjTeXaXff by XWhVTg\ba TaW [bfc\gt_f TffXgf Tf \aixfg`xag cebcbf\g\baf) TaW g[x `Tff\iX fhezx \a exdh\exw WTgT fgbetzx VTcTV\gl [TW VeXTgXW g[x \`cxghf Ybe g[x UXZ\aa\aZf by \aixfg`xag \a WTgT VXageXf+ Ca /-.3 g[xex TccXTef gb [TiX UXXa T ZeXTgXe exfcbaf\ixaxff by aba*vbex fxvgbe Tf \aixfg`xag bccbegha\g\xf) Tf TVdh\f\g\baf jxex T_fb `TWX \a ahef\az fxei\vxf TaW VTe cte^f+ N[\f cxevxcg\ba [Tf Vbag\ahXW gb Zebj gb \avbecbetgx VeX`Tgbe\T \a /-.4+ 8QO]ZM,2 B]IZ\MZTa LMIT NTW_ #B* *()/ b B) *()0$ >XT_ Vbhag /2 /-.2.- 2 - /-.4*K/ /-.4*K0 /-.4*K1 /-.5*K. 4 3 2 1 0 /. - NeTafTVg\ba ib_h`x?whvtg\ba Bbfc\gT_f TaW [XT_g[VTeX =Te cte^f NbgT_ NeTafTVg\ba ib_h`x &OM> Ua' Hhef\aZ fxei\vxf >TgT VXageXf @haxet_ fxei\vxf 7INK>@' DHLJDK<MD<! $"#& @\ZheX 1 [\Z[_\Z[gf g[x Vbaf\fgXaVl by WXT_f \a XWhVTg\ba) TVebff g[x gjx_ix*`bag[ cxe\bw Yeb` K/ /-.4 gb K. /-.5) Xi\WXaV\aZ \gf cbf\g\ba Tf Ta TffXg V_Tff \a g[x fxvbawtel `Te^Xg fgtzx+ Bbfc\gT_ TaW [XT_g[VTeX TVdh\f\g\baf [TiX T_fb TccXTeXW \a XTV[ by g[x Ybhe dhtegxef) Uhg g[x ah`uxe by getaftvg\baf [Tf UXXa _Xff Vbaf\fgXag+ N[\f `Tl UX UXVThfX) Tf [bfc\gt_f [TiX UXXa Vbaf\WXeXW Tf T VbeX*TffXg Ul fb`x \aixfgbef Ybe T j[\_x) bccbegha\g\xf gb `T^X jbeg[j[\_x \aixfg`xagf [TiX UXVb`X fvtevx+ BbjXiXe) YhaXeT_ fxei\vxf TaW VeX`Tgbe\T TVdh\f\g\baf TeX YTe _Xff Vb``ba) f[bj\az g[x VThg\ba j\g[ j[\v[ \aixfgbef TeX TccebTV[\aZ g[x fxvgbe+ P\f\U_X getaftvg\ba it_hxf \a g[x `Te^Xg [TiX ite\xw [hzx_l \a g[x g\`xyet`x) _\^X_l WhX gb T ex_hvgtavx Yeb` g[x fcbafbef gb exixt_ g[x\e \achg g[ta _TeZX Webcf \a g[x it_hxf by g[x WXT_f UX\aZ V_bfXW+ 6

@\ZheX 2 f[bjf T j\wx ite\tg\ba by WXT_ Vbhag gb getaftvg\ba ib_h`x etg\b TVebff g[x fxvgbef+ =Te cte^f fgtaw bhg [XeX \a cteg\vh_te Tf [Ti\aZ ex_tg\ix_l _bj TVg\i\gl Uhg g[x [\Z[Xfg getaftvg\ba ib_h`x by g[x Zebhc) j[\v[ \f \aw\vtg\ix by g[x VbecbeTgX _XiX_ Vbafb_\WTg\ba bvvhee\az \a g[\f fxvgbe _XW Ul \aixfg`xag Y\e`f+ ;Vg\i\gl \a YhaXeT_ fxei\vxf TaW VeX`Tgbe\T) ba g[x bg[xe [TaW) ex`t\af f_bj Tf \aixfgbef jx\z[g hc g[x e\f^f by XagXe\aZ g[\f fxvgbe+ 8QO]ZM -2 6MIT NTW_ Ja [MK\WZ #B* *()/ b B) *()0$ >XT_ Vbhag 0- /2 /-.2.- 2 1 0+2 0 /+2 /.+2. -+2 NeTafTVg\ba ib_h`x -?WhVTg\ba Hhef\aZ fxei\vxf Bbfc\gT_f TaW [XT_g[VTeX >TgT VXageXf =Te cte^f @haxet_ fxei\vxf - >XT_ Vbhag NeTafTVg\ba ib_h`x &OM> Ua' 7INK>@' DHLJDK<MD<! $"#& Q[Xa Vb`cTeXW j\g[ @\ZheX /) g[\f V[Teg f[bjf ex`te^tu_x Vbaf\fgXag WXT_ Vbhag gb getaftvg\ba ib_h`x etg\b Ubg[ \a g[x /-.2 gb /-.5 g\`xyet`x TaW g[x gjx_ix `bag[f gb K. /-.5 Ybe g[x XWhVTg\ba fxvgbe+ N[\f \f Yheg[Xe Xi\WXaVX by g[x XWhVTg\ba fxvgbeof `Tghe\gl \a g[x fxvbawtel `Te^Xg+.-

8QO]ZM.2?WV&KWZM >"3 LMIT KW]V\ Ja KW]V\Za #B) *()- b B) *()0$ 5-4- 3- >XT_ Vbhag 2-1- 0- /-.- - OE CgT_l McT\a @etavx CeX_TaW AXe`Tal 7INK>@' DHLJDK<MD<! $"#&?WhVTg\ba Hhef\aZ fxei\vxf Bbfc\gT_f TaW [XT_g[VTeX >TgT VXageXf =Te cte^f @haxet_ fxei\vxf @\ZheX 3 f[bjf g[x TVg\i\gl by g[xfx f\k fxvgbef Ul Vbhagel TaW exixt_f g[tg g[x OE [Tf UXXa g[x `bfg TVg\iX \aixfg`xag `Te^Xg Ybe aba*vbex TffXg TVdh\f\g\baf WhX gb f\za\y\vtag TVg\i\gl \a XWhVTg\ba TaW ahef\az fxei\vxf+ BbjXiXe) CgT_l [Tf g[x `bfg TVg\i\gl \a [bfc\gt_f TaW [XT_g[VTeX G$; by T g[x `T]be?O fgtgxf+..

2. Hospitals and healthcare services 8QO]ZM /2 ;W[XQ\IT IVL PMIT\PKIZM >"3 LMIT NTW_ #*()- b *()/$ /- >XT_ Vbhag.2.- 2 2 1 0 /. NeTafTVg\ba ib_h`x - /-.2 /-.3 /-.4 K. /-.5 - CgT_l OE McT\a @\a_taw @etavx JbeghZT_ NeTafTVg\ba ib_h`x &OM> Ua' 7INK>@' DHLJDK<MD<! $"#& " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM"1+2 U\ \ba &n0+5ua').6/# [\Z[Xe g[ta \a /-.3 " N[X TiXeTZX WXT_ f\mx \a /-.4 jtf OM"2-- `\ \ba &n1/2`' " >XT_ Vbhag \avextfxw Yeb`.- \a /-.3 gb.4 \a /-.4 " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x OM".+6 U\ \ba &n.+24ua' =XeUT BXT_g[VTeX TVdh\f\g\ba) j[\v[ V_bfXW \a ;ce\_ /-.4 " N[X _TeZXfg WXT_ \a g[x c\cx_\ax \f ;ag\a CaYeTfgehVgheX JTegaXeof 3-# fgt^x TVdh\f\g\ba \a ;_`Ti\iT MTagX j[\v[ extv[xw Vb``XeV\T_ V_bfX \a IVgbUXe /-.4 j\g[ Ta Xfg\`TgXW it_hx by OM"0-- `\ \ba &n/16+0`' " N[X `bfg TVg\iX `Te^Xgf TeX CgT_l j\g[.0 getaftvg\baf TaW g[x OE j\g[.- "?dh\g\k) ;ew\ta) ;R; TaW ;ag\a CaYeTfgehVgheX TeX g[x `bfg TVg\iX \aixfgbef N[X gjb `T\a YTVgbef j[\v[ We\iX [XT_g[VTeX G$; \a g[x?o TeX WX`bZeTc[\Vf TaW `\ZeTg\ba+ CaVeXTf\aZ _\YX XkcXVgTaV\Xf) Vb`U\aXW j\g[ WXVeXTf\aZ YXeg\_\gl etgxf \a WXiX_bcXW Vbhage\Xf) [TiX exfh_gxw \a g[x?oof TZ\aZ cbch_tg\ba+ ;W`\ggXW_l) `\ZeTg\ba c_tlf T eb_x Tf \g \f T Vbage\Uhg\aZ YTVgbe gb \aw\i\wht_f TggXaW\aZ [bfc\gt_f) Uhg VheeXag `\ZeTg\ba etgxf TeX abg _\^X_l gb exixefx g[x?oof TZX etg\b+./

8QO]ZM 02 AMZKMV\IOM WN XWX]TI\QWV IOML.- amiz[ IVL W^MZ #)10. b *().$ /1 // /- # TZXW 32(.5.3.1./.-.653.654.655.656.66-.66..66/.660.661.662.663.664.665.666 /--- /--. /--/ /--0 /--1 /--2 /--3 /--4 /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3 7INK>@' ;IKF? )<HE! DHLJDK<MD<! $"#& McT\a?O OE CgT_l ;WiTaVXf \a `XW\VT_ VTeX `XTa g[tg ctg\xagf TeX fhei\i\az `bex fxe\bhf \ axffxf) Uhg bygxa j\g[ V[eba\V VbaW\g\baf fhv[ Tf BCP) _Xh^TX`\T TaW W\TUXgXf+ Ca ghea) g[x Vbfg by TWiTaVXW) cxefbat_\fxw `XW\V\aXf j\g[ fcxv\t_\fxw Xdh\c`Xag TaW YTV\_\g\Xf [Tf \avextfxw g[x axxw Ybe ZbiXea`Xagf gb bhgfbhevx [XT_g[VTeX gb g[x ce\itgx fxvgbe+ N[X WX`TaW Ybe dht_\gl by fxei\vx Vbag\ahXf gb \avextfx TVebff g[x UbTeW) j[\_x g[x cexffhex gb WX_\iXe fxei\vxf XYY\V\Xag_l TaW Vbfg XYYXVg\iX_l [Tf T_fb e\fxa+ ;f T `Tghe\aZ `Te^Xg) [XT_g[VTeX \ayetfgehvghex G$; \f extfbatu_l VTc\gT_*\agXaf\iX) TaW g[x fgtu_x atghex by exgheaf \a g\`xf by XVbab`\V W\fehcg\ba \f jx exvbza\fxw T`baZ \aixfgbef+ BXaVX) \g \f UXVb`\aZ ex_tg\ix_l Vb`cXg\g\iX+ Ihe WTgT exixt_f g[x `bfg TVg\iX `Te^Xg Ybe [bfc\gt_f TaW [XT_g[VTeX \ayetfgehvghex G$; \f CgT_l) Yb bjxw Ul g[x OE+ ;Vebff g[x?o) [XT_g[VTeX \f gextgxw Ubg[ Tf T chu_\v TaW T ce\itgx TffXg gb itel\az WXZeXXf+ Ca g[x OE) g[x fgtgx*bjaxw HBM bjaf T Vbaf\WXeTU_X ah`uxe by TffXgf) Uhg g[x ce\itgx fxvgbe c_tlf T ceb`\axag eb_x) T bj\az Ybe Vbaf\WXeTU_X G$; TVg\i\gl CgT_l gbb [Tf T ce\itgx fxvgbe g[tg f\gf T_baZf\WX \gf chu_\v [XT_g[VTeX flfgx`+ Cg \f \agxexfg\az g[tg CgT_l TaW g[x OE) gjb Vbhage\Xf j\g[ Yh l chu_\v [XT_g[VTeX flfgx`f) fxx g[x `bfg TVg\i\gl \a [XT_g[VTeX \ayetfgehvghex G$;+ @etavx TaW McT\a byyxe T `\k by \afhetavx TaW f\az_x*ctlxe flfgx`) j[xexul UTf\V [XT_g[VTeX \f cebi\wxw Ul g[x fgtgx+ BbjXiXe) g[bfx j\g[ `XW\VT_ \afhetavx VTa UXaXY\g.0

Yeb` `bex phczetwxwq gextg`xag) j\g[ YTfgXe exfh_gf Ybe aba*x`xezxavl fxei\vxf TaW `bex fcxv\t_\fxw Vbafh_gTagf TiT\_TU_X+ AXe`Talof ce\itgx flfgx` `\eebef g[x OM;of \afhetavx*utfxw flfgx` gb T VXegT\a XkgXag+ N[X U\ZZXfg getaftvg\ba We\iXe \f Vbafb_\WTg\ba) Tf g[x TffXgf j\g[\a g[\f \awhfgel fg\ ex`t\a _TeZX_l YeTZ`XagXW TVebff ]he\fw\vg\baf) WXfc\gX fxixet_ \awhfge\t_ TaW Y\aTaV\T_ c_tlxef UX\aZ TVg\iX \a g[x fxvgbe+ IaVX TffXgf [TiX UXXa UhaW_XW TaW Tal cbff\u_x WX* e\f^\az [Tf UXXa TWWeXffXW) g[x ce\`tel G$; T\`f TeX \agxeatg\bat_ XkcTaf\ba) W\iXef\Y\VTg\ba TaW bcxetg\bat_ \`cebix`xagf+ MhUfXVgbef fhv[ Tf `XagT_ [XT_g[ TeX fxx\az \avextf\az \aixfgbe \agxexfg+ AbiXea`Xagf) X`c_blXef TaW \aw\i\wht_f TeX UXZ\aa\aZ gb hawxefgtaw g[x XVbab`\V TaW fbv\t_ \`ctvg by `XagT_ [XT_g[ ba g[x cbch_tg\ba) fb [\Z[ dht_\gl) [\Z[_l fcxv\t_\fxw gextg`xag VXageXf TeX fxx\az `bex \aixfgbe \agxexfg+ M\aVX chu_\v [XT_g[VTeX YhaWf TeX fgexgv[xw) g[x ex`t\a\az \axi\gtu_x YhaW\aZ f[begyt [Tf exixt_xw T ZbbW bccbegha\gl Ybe ce\itgx \aixfg`xag) fb G$; \a g[\f fhufxvgbe f[bh_w UXVb`X `bex Vb`cXg\g\iX \a g[x Vb`\aZ lxtef+ GXTaj[\_X) WXagT_ fxei\vxf Vbh_W T_fb fxx Yheg[Xe Zebjg[) Tf cbbe WXagT_ [lz\xax \f hawxefgbbw gb UX _\a^xw gb bg[xe `XW\VT_ VbaW\g\baf fhv[ Tf [XTeg W\fXTfX+ Je\iTgX YTV\_\g\Xf _bb^ gb cebi\wx `bex Vb`c_Xk TaW Vbfg_\Xe WXagT_ gextg`xagf TaW `bex fbhz[g* TYgXe TXfg[Xg\V cebvxwhexf+ ;f T ex_tg\ix_l `TgheX `Te^Xg) g[xex TeX fxixet_ gbc Y\aTaV\T_ c_tlxef j\g[ f\za\y\vtag Wb`\aTaVX \a g[x Y\X_W+?dh\g\k T FbaWba*UTfXW \ayetfgehvghex \aixfg`xag Y\e` j[\v[ X`c[Tf\fXf [bfc\gt_f TaW [XT_g[VTeX Tf Ta TfcXVg by \gf fbv\t_ \ayetfgehvghex cbegyb_\b) \f g[x fxvgbeof `bfg YeXdhXag \aixfgbe TVebff g[x?o) j\g[ Ybhe WXT_f V_bfXW \a CgT_l bixe g[x _Tfg g[exx lxtef+ Q\g[ \gf fgtghf Tf Ta \afg\ghg\bat_ \aixfgbe) g[x \afhetavx Zebhc ;R; W\iXef\Y\Xf \gf \aixfg`xagf \a [XT_g[VTeX) f[bj\az g[x cbgxag\t_ Ybe g[\f fxvgbe gb UX Vbaf\WXeXW Tf T VbeX \ayetfgehvghex TffXg+ M^Taf^T TaW Db[a FT\aZ TeX T_fb TVg\iX c_tlxef \a g[x `Te^Xg) f[bj\az g[x Wb`\aTaVX by VbafgehVg\ba \aixfgbe cteg\v\ctg\ba \a g[x [XT_g[VTeX G$; `Te^Xg+ MXVgbe*fcXV\Y\V \aixfgbef fhv[ Tf <hct) T <e\g\f[ ce\itgx [XT_g[VTeX cebi\wxe TaW \afhexe) Vbag\ahX gb `T^X TVdh\f\g\baf \a g[x fxvgbe) TaW fb V[T XaZ\aZ g[x Wb`\aTaVX by g[x `Te^Xgof Y\aTaV\T_ c_tlxef+ N[XeX TeX T_fb fb`x f`t Xe \aixfgbef j[b [TiX V_bfXW WXT_f \a g[x _Tfg g[exx lxtef) bygxa Vb`cTa\Xf j[\v[ [TiX UXXa TVdh\eXW Ul be [TiX g[x UTV^\aZ by ce\itgx Xdh\gl) j[\v[ g[xa cebi\wxf g[x VTc\gT_ Ybe TVdh\f\g\baf+.1

IiXeT ) g[x Vbfg by U\Wf [Tf e\fxa \a [XT_g[VTeX Tf Y\aTaV\T_ \aixfgbef _bb^ gb fxvhex bccbegha\g\xf) We\i\aZ Wbja exixahxf+ N[\f ctggxea W\fc_Tlf g[x \avextfxw G$; TVg\i\gl Zb\aZ ba \a g[x fxvgbe) T bj\az Ybe ZeXTgXe XYY\V\XaVl TaW _bjxe Vbfgf*cXe*UXW+ N[X WXagT_ fhufxvgbe by g[x [XT_g[VTeX \awhfgel [Tf `TWX T f\za\y\vtag \`ctvg ba g[x fxvgbeof G$; TVg\i\gl+ N[X OM". U\ \ba &n50-`' TVdh\f\g\ba \a K. /-.4 by ITf\f >XagT_ =TeX Yeb` <e\wzxcb\ag Ul <hct \a g[x OE \f Ta XkT`c_X by [bj it_htu_x ce\itgx fxvgbe WXagT_ VTeX cbegyb_\bf [TiX UXVb`X+ BbjXiXe) g[\f WXT_ jtf exyxeexw gb g[x OE =b`cxg\g\ba TaW GTe^Xgf ;hg[be\gl Ul g[x?hebcxta =b``\ff\ba) fb g[\f `Tl UX T fxvgbe j\g[ `bex ZbiXeaTaVX e\f^ g[ta bg[xef+ ;abg[xe TVdh\f\g\ba \a g[x WXagT_ fctvx [Tf UXXa FbaWba*UTfXW <= JTegaXefo /-.4 TVdh\f\g\ba by g[x CgT_\Ta WXagT_ V_\a\V) >XagT_Jeb Yeb` Mh``\g JTegaXef) P;G CaiXfg`Xagf TaW bg[xe ce\itgx \aixfgbef+ N[\f WXT_ exdh\exw exzh_tgbel TccebiT_ TaW jtf it_hxw Tg OM"13/ `\ \ba &n042`'+ Q[\_X g[x?o c\cx_\ax by ZeXXaY\X_W [bfc\gt_f [Tf Wj\aW_XW \a exvxag lxtef) fxvbawtel `Te^Xg TVg\i\gl \f ceb`\f\az+ G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM"0+3 U\ \ba &n/+6ua').1-# [\Z[Xe g[ta \a /-.3+ N[X TiXeTZX WXT_ f\mx \a /-.4 jtf OM"4.. `\ \ba &n26-`') j[\v[ \f `hv[ [\Z[Xe g[ta g[x Y\ZheX exvbewxw \a g[x cexi\bhf lxte OM".6/ `\ \ba &n.26`') g[bhz[ g[\f `Tl [TiX UXXa f^xjxw Ul T _TV^ by i\f\u_x getaftvg\ba it_hxf g[x lxte UXYbeX+ BbjXiXe) g[x WXT_ Vbhag \avextfxw gb./ \a /-.4) Vb`cTeXW gb.. TVdh\f\g\baf \a /-.3) fb g[xex `Tl [TiX UXXa fb`x VbeeXfcbaW\aZ e\fx \a it_hxf+ =_bfxw WXT_ Vbhagf [TiX ba TiXeTZX e\fxa \a _Tfg g[exx lxtef) g[x _TeZXfg by j[\v[ \a g[x /-.2*/-.5 cxe\bw jtf g[x OM".+6 U\ \ba &n.+24ua' =XeUT BXT_g[VTeX TVdh\f\g\ba \a @etavx+ N[X WXT_ V_bfXW \a ;ce\_ /-.4) ftj \aixfg`xag `TaTZX`Xag Zebhcf JMJ CaiXfg`Xagf TaW JTegaXef Aebhc TVdh\eX g[x?hebcxta `XW\VT TUbeTgbel fxei\vxf Zebhc Yeb` g[x ce\itgx Xdh\gl Y\e` J;C ctegaxef+ N[\f f[bjf g[x it_hx g[tg ce\itgx Xdh\gl [bhfxf VTa cebi\wx gb g[\f fxvgbe TaW fb `T]be Y\aTaV\T_ \aixfg`xag \a g[x?o [XT_g[VTeX `Te^Xg _bb^f fxg gb Vbag\ahX+ N[X _TeZXfg WXT_ \a g[x c\cx_\ax \f ;ag\a CaYeTfgehVgheX JTegaXeof 3-# fgt^x TVdh\f\g\ba by ;_`Ti\iT MTagX Zebhc \a @etavx) j[\v[ [Tf Ta Xfg\`TgXW getaftvg\ba it_hx OM"02/ `\ \ba &n0--`'+ IaX by CgT_lof _TeZXfg WXT_f Ul getaftvg\ba it_hx \a exvxag lxtef jtf g[x K/ /-.3 13+4# fgt^x TVdh\f\g\ba by EIM) Ta CgT_\Ta [XT_g[VTeX cebi\wxe) Ul \awhfge\t_ Zebhc =CL TaW \ayetfgehvghex \aixfgbe @/\ Yeb` ;ew\ta Ybe OM"033 `\ \ba &n0-1`' Ca K. /-.4) ;UXeWXXa CaYeTfgehVgheX @hawf TVdh\eXW..+34# \agxexfg) it_hxw Tg OM"4 `\ \ba &n2+5`' by g[x Bbfc\gT_ Oa\iXef\gTe\b WX_ MheXfgX \a McT\a Yeb` A_bUT_i\T) Ta \ayetfgehvghex TffXg `TaTZX`Xag Y\e`+ Ca HbiX`UXe /-.4) g[x Mj\ff*UTfXW KhTXeb?hebcXTa CaYeTfgehVgheX @haw) `TaTZXW Ul KhTXeb =Tc\gT_) UbhZ[g g[x Bbfc\gT_ WX_ NT]b Ybe OM"36+4 `\ \ba &n25`' Yeb` ;ff\za\t CaYeXfgehVgheTf) MTaWb TaW CaTUXafT) T fhuf\w\tel by ;UXaZbT+.2

N[X WXT_ extv[xw Y\aTaV\T_ V_bfX \a ;ce\_ /-.4) TaW excexfxagxw g[x f\kg[ WXT_ Ybe KhTXebof \ayetfgehvghex ix[\v_x) Tf jx Tf UX\aZ \gf Y\efg \a McT\a TaW \a g[x [XT_g[ fxvgbe+ N[X fx Xef jxex TjTeWXW g[x ><@IG ceb]xvg Tf T 0-*lXTe VbaVXff\ba \a /--2+ FbVTgXW \a g[x V\gl by ;eta]hxm) j\g[\a g[x =b``ha\gl by GTWe\W) g[x [bfc\gt_ be\z\at l bcxaxw \a /--5) TaW [Tf T fheytvx TeXT by 13)--- `w+?o \aixfgbef [TiX YbhaW g[tg [bfc\gt_f TaW V_\a\Vf TeX T `bex ex_\tu_x TffXg V_Tff g[ta g[x TffbV\TgXW `TahYTVghe\aZ \awhfge\xf f\avx g[x?o exzh_tg\baf ba `XW\VT_ WXi\VXf TeX \a T getaf\g\bat_ c[tfx+ N[X hcvb`\az V[TaZXf j\ \agxaf\yl `Te^Xg fvehg\al TaW \avextfx g[x T`bhag by `XW\VT_ Xi\WXaVX exdh\exw Ul `TahYTVgheXef) VThf\aZ exzh_tgbel e\f^ Ybe XfgTU_\f[XW c_tlxef+ BXT_g[VTeX \ayetfgehvghex \f ^abja gb UX T [\Z[_l exzh_tgxw \awhfgel) bygxa ba T atg\bat_ TaW _bvt XiX_) j[\v[ cebi\wxf fgtu\_\gl Ybe \afg\ghg\bat_ \aixfgbef+ BbjXiXe) `bfg [bfc\gt_f TeX exzh_tgxw Tg T _bvt XiX_) j[xex Tgg\ghWXf gb \aixfg`xagf `Tl V[TaZX TaW j\ abg UX Vbaf\fgXag TVebff ]he\fw\vg\baf) fb Y\kXW Uhf\aXff `bwx_f TeX W\YY\Vh_g gb \`c_x`xag ba T Vebff*UbeWXe UTf\f+ >Xf\Za) VbafgehVg\ba TaW exyheu\f[`xag TeX T_fb f\za\y\vtag YTVgbef \a [bfc\gt_ e\f^ ceby\_xf+ Bbfc\gT_ exabitg\baf TeX [\Z[_l Vbageb XW gb _\`\g \ayxvg\baf) gb Tib\W WT`TZX gb `XW\VT_ ZTf c\cx_\axf TaW gb T bj Ybe Ta XYY\V\Xag flfgx` g[ebhz[ j[\v[ ctg\xagf VTa ftyx_l V\eVh_TgX+ LXf\WhT_ Whfg TaW `\VebUXf ex_xtfxw Whe\aZ Uh\_W\aZ W\fgheUTaVXf VTa fcextw W\fXTfXf T`baZ ctg\xagf TaW fgtyy+ ;f [XT_g[VTeX ZeTWhT l W\Z\gT_\fXf) e\f^f gb gxv[ab_bz\vt_ \ayetfgehvghex f[bh_w T_fb UX Vbaf\WXeXW) T_baZ j\g[ VbafgehVg\ba TaW exyheu\f[`xag+ L\f^ by XkcbfheX gb cb_\vl T`XaW`Xagf \f YT\e_l [\Z[ \a g[\f fxvgbe) TaW fb V[TaZXf gb ce\itgx [XT_g[ \afhetavx j\g[\a?o Vbhage\Xf be gb?o*j\wx exzh_tg\baf ba [XT_g[VTeX Vbh_W [TiX T ^abv^*ba XYYXVg ba g[xfx TffXgf+ >he\az g\`xf by cb_\g\vt_ V[TaZX) cteg\xf `Tl [TiX W\YYXe\aZ TaW Xib_i\aZ Tgg\ghWXf gb ce\itgx \aixfg`xag \a g[x\e atg\baof [XT_g[VTeX flfgx`) j[\v[ VTa `T^X \aixfg`xag TaW WXiX_bc`Xag V[T XaZ\aZ+ =bafb_\wtg\ba `bixf j\g[\a g[x _TeZX_l YeTZ`XagXW TffXg UTfX TeX g[x ce\`tel extfba Ybe G$; \a g[\f fxvgbe UXVThfX g[xl VTa byyxe bcxetg\bat_ fti\azf+ CaW\i\WhT_ [bfc\gt_f TaW [XT_g[VTeX VXageXf bygxa [TiX \axyy\v\xag fgtyy\az TaW gxv[ab_bz\vt_ flfgx`f) TaW [\Z[Xe Vbfgf cxe UXW j\g[ exztewf gb \afhetavx TaW Xdh\c`Xag TVdh\f\g\baf+ <l Vbafb_\WTg\aZ TffXgf) \aixfgbef VTa \avextfx XYY\V\XaV\Xf TaW TffXg it_hx+ Mlag[Xf\m\aZ gxv[ab_bzl j\g[ getw\g\bat_ VTeX T\`f gb Ue\aZ Vbfgf Wbja TaW \avextfx g[x TVVheTVl by.3

W\TZabfXf Ul fhccbeg\az WbVgbef j\g[ <\Z >TgT TaW Teg\Y\V\T_ \agx \ZXaVX &;C'+ ;f fhv[) \`c_x`xag\az W\Z\gT_\fTg\ba VTa Ue\aZ TffXgf \a _\ax j\g[ `bwxea cetvg\vxf) `bex XYYXVg\iX_l _XiXeTZ\aZ g[x j\wx \awhfgelof j\wx ^abj_xwzx*utfx+ Bbfc\gT_f TaW [XT_g[VTeX [TiX T_fb cebi\wxw fbhaw exgheaf \a exvxag lxtef) fb Vb`U\aXW j\g[ g[x\e exf\_\xavx \a g\`xf by XVbab`\V gheuh_xavx) g[xl TVg Tf T ZbbW W\iXef\Y\Xe j\g[\a \aixfg`xag cbegyb_\bf+ N[\f ^abj_xwzx j\ \^X_l Ue\aZ TUbhg `bex \agxexfg Yeb` T j\wxe Y\X_W by \afg\ghg\bat_ \aixfgbef+ Ca g\`x) jx Vbh_W fxx [XT_g[VTeX \ayetfgehvghex G$; extv[ g[x _XiX_ by Vb`cXg\g\ba fxxa \a getafcbeg \ayetfgehvghex+ Nhe^Xl ftj Vbaf\WXeTU_X ZeXXaY\X_W [XT_g[VTeX TVg\i\gl \a g[x lxtef Yb bj\az g[x cte_\t`xag _XZ\f_Tg\aZ \a /-.0 gb T bj `bex ce\itgx Uh\_W\aZ by [bfc\gt_f) j[\v[ jbh_w UX _XTfXW UTV^ gb g[x fgtgx+ N[\f Vbh_W exfh_g \a `bex fxvbawtel `Te^Xg WXT_f \a Nhe^Xl \a lxtef gb Vb`X Yb bj\az g[x ctggxea by WXiX_bc`Xag \a g[x OE TaW CgT_l Uhg g[tg j\ WXcXaW [XTi\_l ba g[x Vbhagelof XVbab`\V TaW cb_\g\vt_ fgtu\_\gl+ EIJTM )' ;W[XQ\IT[ IVL PMIT\PKIZM LMIT[ #*()- & *()0$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][ =XeUT BXT_g[=TeX @etavx JMJ CaiXfg`Xagf) JTegaXef Aebhc J;C JTegaXef /-,1,/-.4 ".+6Ua @\atav\t_ V_bfX ITf\f >XagT_ =TeX OE <hct <e\wzxcb\ag.4,-0,/-.4 ".+.Ua @\atav\t_ V_bfX EIM CgT_\Ta BXT_g[VTeX MgT^X CgT_l =CL) @/\ @baw\ CgT_\Ta\ cxe _X CaYeTfgehVgheX ;ew\ta.5,-2,/-.3 "033` @\atav\t_ V_bfX ;_`Ti\iT MTagX @etavx ;ag\a CaYeTfgehVgheX ACGP) OC.5,./,/-.2 "02/` =b``xev\t_ V_bfX 5 CgT_\Ta Bbfc\gT_f CgT_l ;R; LXT_ ;ffxgf) GXW\VTc JebcXeg\Xf Nehfg Jb_\V_\a\Vb >\ GbamT.6,..,/-.2 "//-` @\atav\t_ V_bfX 7INK>@' DHLJDK<MD<! $"#&.4

3. Nursing services 8QO]ZM 12?]Z[QVO [MZ^QKM[ 7F >"3 LMIT NTW_ #*(). b *()0$ >XT_ Vbhag /-.2.- 2 - /+2 /.+2. -+2 - /-.2 /-.3 /-.4 K.*/-.5 OE @etavx AXe`Tal CeX_TaW <X_Z\h` @\a_taw McT\a NeTafTVg\ba ib_h`x &OM> Ua' NeTafTVg\ba ib_h`x 7INK>@' DHLJDK<MD<! $"#& " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM"0+1 U\ \ba &n/+6ua' " N[X TiXeTZX WXT_ f\mx \a /-.4 jtf OM"005 `\ \ba &n/54`') /-# _bjxe g[ta g[x /-.3 TiXeTZX " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x AXV\`XW JbegYb_\b TVdh\f\g\ba it_hxw Tg OM".+2 U\ \ba &n.+/1ua' " N[X _TeZXfg WXT_ \a g[x c\cx_\ax \f <e\wzxcb\agof W\iXfg`Xag Yeb` \gf =TeX OE cbegyb_\b) TaabhaVXW \a @XUehTel /-.5 j\g[ Ta Xfg\`TgXW it_hx by OM"251 `\ \ba &n152 `\ \ba' " N[X `bfg TVg\iX `Te^Xg \f g[x OE) Yb bjxw Ul @etavx TaW AXe`Tal " <hct) Je\`ba\T_ TaW L> =Tc\gT_ JTegaXef TeX g[x `bfg TVg\iX \aixfgbef ;f T aba*vbex \ayetfgehvghex TffXg V_Tff) ahef\az fxei\vxf cebi\wx `Tal f\`\_te YXTgheXf gb [bfc\gt_f \a gxe`f by TffXg exzh_tg\ba TaW fgtyy\az `bwx_f+ N[X WTgT \a @\ZheX / exixt_f T f\`\_te ctggxea by WXT_ Y_bj gb g[x [XT_g[VTeX fxvgbe bixe g[x _Tfg g[exx lxtef+.5

Ca g[\f excbeg) ahef\az fxei\vxf TeX fc_\g \agb V[\_W TaW X_WXe_l VTeX+ N[X WTgT f[bjf ZeXTgXe TVg\i\gl \a X_WXe_l VTeX Tf bccbfxw gb V[\_WVTeX) \a _\ax j\g[ g[x?oof TZ\aZ cbch_tg\ba) Tf g[xex jxex g[exx WXT_f V_bfXW \a V[\_WVTeX) TZT\afg 0- X_WXe_l VTeX WXT_f+ N[XfX gjb fhufxvgbef TeX We\iXa Ul g[x axxw gb `T^X ZbbW cebi\f\ba Ybe gjb ih_axetu_x fbv\t_ Zebhcf TaW fb ftyxgl TaW T [\Z[ fgtawtew by VTeX TeX Tg g[x YbeXYebag by exzh_tg\baf+ HhV_XTe YT`\_\Xf \a WXiX_bcXW Vbhage\Xf TeX VXageXW ba gjb jbe^\az TWh_gf TaW VTeX Ybe g[x X_WXe_l \f UXVb`\aZ XiXe `bex V[T XaZ\aZ) fb ahef\az fxei\vxf \a g[x?o TeX \avextf\az_l \a WX`TaW+ ;VVbeW\aZ gb g[x I?=>) jb`xa \a g[x OE TaW >Xa`Te^ Tg g[x TZX by 32 [TiX T Yheg[Xe _\YX XkcXVgTaVl by /- lxtef) j[\v[ \avextfxf gb /0 lxtef \a @etavx TaW McT\a+ ;f g[x?oof TZ\aZ cbch_tg\ba [Tf UXVb`X _Xff \awxcxawxag Ybe _bazxe cxe\bwf by g\`x) V[TaZXf gb X_WXe_l VTeX fxei\vxf [TiX UXXa axvxfftel gb gt^x g[x fget\a+ M\aVX g[x TZ\aZ cbch_tg\ba abj T_fb fhyyxef `bex Vb`c_Xk) V[eba\V W\fXTfXf) VTeX YTV\_\g\Xf TeX Xib_i\aZ gb fhccbeg exf\wxagf j\g[ Vbag\ah\aZ `XW\VT_ VbaW\g\baf j[b `Tl T_fb _TV^ fb`x `XagT_ be c[lf\vt_ VTcTV\gl) Uhg Wb abg axxw axvxffte\_l gb UX [bfc\gt_\fxw+ @Xeg\_\gl etgxf [TiX ZXaXeT l exz\fgxexw T WbjajTeW gexaw TVebff g[x?o f\avx g[x.63-f &UTee\aZ T f_\z[g) hafhfgt\axw hcghea Yeb` /--0 gb /--5'+ OaX`c_bl`Xag etgxf [TiX UXXa YT \az fgxtw\_l \a g[x?o f\avx g[x XaW by /-.0 TVVbeW\aZ gb?hebfgtg) TaW fcxv\y\vt l YX`T_X jbe^ybevx cteg\v\ctg\ba \f \avextf\az TVebff T `T]be?O Vbhage\Xf) TVVbeW\aZ gb Qbe_W <Ta^ WTgT W\fc_TlXW \a @\ZheX.-+ 8QO]ZM )(2 AMZKMV\IOM WN NMUITM[ QV \PM TIJW]Z NWZKM #)11( b *()/$ 15 13 11 1/ 1-05 03 01.66-.66..66/.660.661.662.663.664.665.666 /--- /--. /--/ /--0 /--1 /--2 /--3 /--4 /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3 /-.4 7INK>@' ;IKF? )<HE! DHLJDK<MD<! $"#& McT\a?O OE CgT_l Ca Vb`U\aTg\ba) g[xfx fgtg\fg\vf `XTa g[xex TeX YXjXe VbafgTag Wb`Xfg\V VTeX cebi\wxef gb fhccbeg ih_axetu_x \aw\i\wht_f+ ;f fhv[) g[\f \awhfgel \a cteg\vh_te [Tf exdh\exw g[x.6

\aib_ix`xag by g[x ce\itgx fxvgbe Tf ZbiXea`Xagf by?o `X`UXe fgtgxf fgehzz_x gb Y\aW YhaW\aZ gb `T\agT\a ZbbW dht_\gl VTeX [b`xf TZT\afg g[x e\f\az Vbfg by fgtgx [XT_g[VTeX) cxaf\baf TaW V[\_WVTeX+ @heg[xe gb g[\f) Tf ZbiXea`Xagf [TiX YT\_XW gb TWWeXff g[x dht_\gl by X_WXe_l VTeX cebi\f\ba) g[x TYY_hXag UTUl Ubb`Xe ZXaXeTg\ba [Tf extv[xw exg\ex`xag TaW g[xl TeX `TaTZ\aZ g[x\e b_w TZX+ @XTe by flfgx`\v hawxe*cebi\f\ba \a fgtawtew) fgtgx*eha X_WXe_l VTeX YTV\_\g\Xf [Tf _XW gb Ta \avextfx \a g[x ah`uxe by [\Z[ dht_\gl fx_y*yhawxw VTeX [b`xf TaW exg\ex`xag i\ TZXf+ N[X ceb_baz\az by b_w TZX [Tf V[TaZXW g[x Uhf\aXff fgehvghex by g[xfx TffXgf gbb) XfcXV\T l Tf exg\ex`xag [b`xf `bix gbjtewf T _baz*gxe` _XTfX `bwx_) etg[xe g[ta f[begxe gxe` gxatav\xf) ghea\az g[x` `bex \agb ext_ XfgTgX g[ta [XT_g[VTeX TffXgf+ N[X _\VXaf\aZ TaW exzh_tg\ba by VTeX [b`xf W\YYXef TVebff g[x?o+ Ca HbeW\V Vbhage\Xf) VTeX [b`xf TeX Yh l bhgfbhevxw) j\g[ bcxetgbef [b_w\az VbageTVgf j\g[ g[x fgtgx Ybe UXgjXXa 0*.- lxtef+ Ca g[x OE) g[x fxvgbe \f bixefxxa Ul g[x =TeX KhT_\gl =b``\ff\ba j[\v[ T_fb exzh_tgxf [bfc\gt_f TaW [XT_g[VTeX `bex UebTW_l+ 8QO]ZM ))2 HWZTL_QLM LMUMV\QI NWZMKI[\QVO #*()- b *(-($ A_bUT_ WX`Xag\T ctg\xagf &`\ \ba'.1-.3-./-.-- 5-3- 1- /- - -( 7INK>@' ;IKF? /@<FMC 4KB<HDL<MDIH! DHLJDK<MD<! $"#& N[X jbe_w [Tf fxxa Ta \avextfx \a ah`uxef by cxbc_x fhyyxe\az Yeb` ite\bhf Ybe`f by WX`Xag\T TaW \g \f YbeXVTfg gb Vbag\ahX e\f\az Tf fxxa \a @\ZheX..+ ;f fhv[) `bex TggXag\ba [Tf T_fb UXXa ct\w \a exvxag lxtef gb \ayetfgehvghex Tf T jtl by Tff\fg\aZ g[x X_WXe_l j\g[ WX`Xag\T VTeX TaW W\fTU_XW TVVXff\U\_\gl+ LXZh_Tg\baf ba VbafgehVg\ba TaW exabitg\ba fcxv\y\vt l [TiX \avextfxw+ Q\g[\a g[x OEof X_WXe_l VTeX fxvgbe) g[x fgtawtewf bhg_\axw \a g[x HTg\baT_ Cafg\ghgX Ybe BXT_g[ TaW =TeX?kVX XaVXof &HC=?' ctg[jtl axxw gb UX `Xg gb TVVb``bWTgX WX`Xag\T ctg\xagf \a g[x X_WXe_l cbch_tg\ba N[\f \f T f\za\y\vtag cxevxagtzx by g[\f WX`bZeTc[\V f\avx) TVVbeW\aZ gb >X`Xag\T MgTg\fg\Vf BhU 4+.# by g[x OEof cbch_tg\ba bixe g[x TZX by 32 [Tf fb`x Ybe` by WX`Xag\T+ /- 0* )-* /-.2 /-0- /-2-

LXZTeW\aZ V[\_WVTeX) YT`\_\Xf exdh\ex fgtu_x) fg\`h_tg\az V[\_WVTeX Xai\eba`Xagf) [XaVX exzh_tg\ba by g[x fxvgbe YbVhfXf ba ftyxzhtew\az TaW jx_ytex+ Ca g[x OE) XTe_l lxtef V[\_WVTeX YTV\_\g\Xf TeX exzh_tgxw Ul g[x IYY\VX Ybe MgTaWTeWf \a?whvtg\ba &IYfgXW') g[x OEof XWhVTg\ba exzh_tgbe) j[\v[ XiT_hTgXf jx_ytex) _XTea\aZ TaW WXiX_bc`Xag) TaW fh\gtu_x cex`\fxf+ N[X gjb gbc fcbafbef \a ahef\az fxei\vxf Ul WXT_ Vbhag TeX ;R; TaW <hct ;R;of \agxexfg \a g[x fxvgbe \f Ta XaVbheTZ\aZ f\za Ybe \gf YhgheX Tf \g fhzzxfgf \afg\ghg\bat_ \aixfgbeof VbaY\WXaVX+ N[X \afhexeof WXT_ ceby\_x \a ahef\az fxei\vxf T_fb exy_xvgf T `bex \agxeatg\bat_ bhg_bb^) j\g[ TVdh\f\g\baf \a @\a_taw TaW @etavx Tf jx Tf g[x OE+ <hct TaW B=*IaX jxex g[x gjb `bfg TVg\iX fxvgbe fcxv\y\v \aixfgbef) Uhg j\g[ W\YYXe\aZ checbfxf) Tf B=*IaX \f fb_x_l TVg\iX \a VTeX fxei\vxf) fb \g T\`f gb \avextfx \gf `Te^Xg f[tex) j[xextf <hct \f `bex UebTW_l TVg\iX TVebff [bfc\gt_f) WXagT_ fxei\vxf) \afhetavx TaW VTeX) fb \g \f _bb^\az gb W\iXef\Yl \gf byyxe\az Yheg[Xe <bg[ c_tlxef TeX ba_l `T^\aZ TVdh\f\g\baf \a g[x OE `Te^Xg) `T^\aZ Ta \agxeatg\bat_ cbegyb_\b ha_\^x_l+ B=*IaX \f VheeXag_l \a g[x `\Wfg by \gf bja W\iXfg`Xag Ybe Ta Xfg\`TgXW u. U\ \ba &n.+.1ua) OM".+00Ua') TaW \agxexfgxw cteg\xf TeX excbegxw gb \av_hwx ;GJ =Tc\gT_) ;ag\a) EEL T_baZ j\g[ T ite\xgl by OM L?CNf TaW ;f\ta \afhexef+ B=*IaXof VheeXag bjaxef TeX T Vbafbeg\h` \av_hw\az MgXcfgbaX TaW =bheg =TiXaW\f[ j[\v[ `Tl _bb^ gb \avextfx g[x\e f[tex) gbzxg[xe j\g[ @be`tg\ba =Tc\gT_) g[x OM L?CN B=J TaW MTYTaTW+ >XT_ Vbhagf \a ahef\az fxei\vxf TVebff g[x?o [TiX gexawxw hcjtewf ba TiXeTZX \a g[x _Tfg g[exx lxtef Uhg [TiX abg axvxffte\_l UXXa Vbaf\fgXag ba T dhtegxe Ul dhtegxe UTf\f+ CagXeXfg\aZ_l) g[x WXT_ Vbhag Ybe g[x Y\efg dhtegxe by /-.5 &X\Z[g WXT_f V_bfXW' \f T_eXTWl Tg [T_Y g[x ah`uxe by WXT_f V_bfXW g[ebhz[bhg /-.4+ Cg \f [TeWXe gb YbeXVTfg j[xex getaftvg\ba ib_h`xf TeX [XTWXW) f\avx WXT_ it_hxf TeX bygxa abg W\fV_bfXW+ IiXe g[x _Tfg YXj lxtef) TiT\_TU_X getaftvg\ba ib_h`xf [TiX ite\xw) TiXeTZ\aZ OM"1/3 `\ \ba &n021`' \a /-.3 TaW g[xa OM"005 `\ \ba &n/5-`' \a /-.4+ LXT_ XfgTgX YhaW `TaTZXe Je\`ba\T_ L?CG exvxag_l \aixfgxw \a gjb ceb]xvgf \a @etavx) Ubg[ \a g[x X_WXe_l VTeX fxvgbe+ N[X fxvgbeof _TeZXfg TVdh\f\g\ba \a g[x?o \a exvxag lxtef jtf g[x OM".+2 U\ \ba &n.+02ua' AXV\`XW JbegYb_\b TVdh\f\g\ba) V_bfXW \a K0 /-.3) \a j[\v[ Je\`ba\T_ L?CG TVdh\eXW T [XT_g[VTeX W\i\f\ba Yeb` AXV\aT \a @etavx+ Ca g[\f WXT_) Je\`ba\T_ L?CG jtf UTV^XW Ul T ah`uxe by \afg\ghg\bat_ \aixfgbef \av_hw\az ;i\it) MheTiXa\e TaW T YhaW `TaTZXW Ul ;`haw\ LXT_?fgTgX+ N[\f WXT_ [\Z[_\Z[gf \afg\ghg\bat_ UTV^\aZ by WXT_f \a g[x fxvgbe TaW f[bjf VbaY\WXaVX \a g[x YhgheX by g[\f `Te^Xg+ N[X OEof X_WXe_l VTeX `Te^Xg [Tf UXXa YT\e_l Y_h\W \a exvxag lxtef) j[\v[ [Tf T bjxw Ybe _TeZXe WXT_f _\^X B=*IaXof TVdh\f\g\ba by..- VTeX [b`xf Yeb` <hct Ybe Tccebk\`TgX_l u0-- `\ \ba &OM"1-/` n01.`'+ Ca g[x V[\_WVTeX fhufxvgbe) OE*UTfXW cebi\wxe <e\z[g /.

Bbe\mbaf TVdh\eXW g[x [\Z[*XaW ;fdh\g[ HhefXe\Xf cbegyb_\b Ybe u3- `\ \ba &OM"5/` n35`' \a K1 /-.3+ <e\z[g Bbe\mbaf \f _bb^\az gb XkcTaW \gf \agxeatg\bat_ cbegyb_\b TaW [Tf T_eXTWl TVdh\eXW bixe 6-- Z_bUT_ TffXgf+ >Xfc\gX CeX_TaWof ex_tg\ix_l lbhaz cbch_tg\ba \a Vb`cTe\fba gb g[x?o TiXeTZX) \g \f fg\ cbff\u_x gb Y\aW it_htu_x WXT_f \a g[x ]he\fw\vg\ba+ @be XkT`c_X) \a DhaX /-.4) CaYeTP\T?hebcXTa @haw CCC TVdh\eXW CeX_TaWof ahef\az [b`x bcxetgbe Yeb`?`XeT_W CaiXfg`Xag JTegaXef Ybe Tccebk\`TgX_l OM"51 `\ \ba &n4-`'+ =TeX=[b\VX bcxetgxf f\k VTeX VXageXf \a >hu_\a) =be^ TaW QTgXeYbeW+ @\a_taw [Tf T_fb fxxa T ah`uxe by getaftvg\baf \a g[\f TeXT) \av_hw\az XK =TeXof TVdh\f\g\ba by /4 ahef\az [b`xf Yeb` Hbeg[Xea Bbe\mba =Tc\gT_of BXT_g[VTeX C YhaW \a K. /-.3) \a T WXT_ it_hxw Tg OM".35 `\ \ba &n.06`'+ Ca gxe`f g[x c\cx_\ax) g[x =TeX OE cbegyb_\b ft_x jtf TaabhaVXW \a @XUehTel /-.5+ Cg \f UX\aZ W\iXfgXW Ul <e\g\f[ Uhlbhg Y\e` <e\wzxcb\ag TaW U\Wf Ybe g[x ft_x jxex WhX \a GTeV[ /-.5) T_g[bhZ[ g[xl [TiX abg UXXa TaabhaVXW+ N[X WXT_ j\ \avbecbetgx..5 VTeX [b`xf j\g[ Tccebk\`TgX_l 5--- UXWf) \a T Uhf\aXff `bwx_ g[tg \f _Xff WXcXaWXag ba ZbiXea`Xag fhuf\w\xf g[ta `Tal bg[xe Vb`cXg\gbef \a g[x OE fxvgbe+ N[\f ce\itgx YhaW\aZ*YbVhfXW Uhf\aXff `bwx_ `T^Xf \g _Xff bcxa gb cb_\vl V[TaZX e\f^) Uhg \g Vbh_W T_fb UX T [\awxetavx) \Y g[x OE XVbab`l YTVXf Yheg[Xe XVbab`\V cexffhex \a g[x lxtef T[XTW+ LXZh_Tg\ba TVebff g[x ahef\az fxei\vxf \awhfgel [Tf UXVb`X `bex fge\azxag j[\v[) j[xa Vb`cbhaWXW Ul g[x YeTZ`XagTel atghex by Ubg[ g[x TffXgf g[x`fx_ixf TaW g[x exzh_tg\az UbW\Xf TVebff?O ]he\fw\vg\baf) Vbh_W `T^X Vb Tg\aZ T cbegyb_\b \a g[x fxvgbe W\YY\Vh_g+?iXa `bex fb g[ta \a [XT_g[VTeX) ahef\az fxei\vxf TeX Ta XkcXafX g[tg ZbiXea`Xagf TeX [Tccl gb hauhewxa g[x`fx_ixf by gb XiXel cbff\u_x XkgXag) cteg\vh_te_l Vbaf\WXe\aZ g[x \avextf\az cexffhex by X_WXe_l VTeX axxwf+ N[\f \f XfcXV\T l g[x VTfX f\avx ahef\az fxei\vxf TeX etex_l fgtgx*bjaxw TVebff g[x?o) TaW g[x fgtawtew by VTeX cebi\wxw \a fgtgx*eha X_WXe_l VTeX YTV\_\g\Xf \f ZXaXeT l abg exztewxw Tf [\Z[+ N[XeX \f T ZTc \a g[x `Te^Xg UXgjXXa jxt_g[l) fx_y*yhaw\az exf\wxagf TaW hawxece\i\_xzxw \aw\i\wht_f ex_\tag ba fgtgx YhaW\aZ) j[xex g[xex [Tf Vbaf\fgXag_l UXXa \afhyy\v\xag \aixfg`xag+ M[bh_W g[\f ZTc Vbag\ahX) g[xex j\ UX T f[begtzx by YTV\_\g\Xf gb [bhfx g[x TZ\aZ cbch_tg\ba UhUU_X) j[\_x \aixfgbef YT\_ gb VTc\gT_\fX ba g[\f WXiX_bc\aZ fxvgbe by g[x `Te^Xg+ Cg \f) [bjxixe) hawxefgtawtu_x g[tg ce\itgx \aixfg`xag \f ex_hvgtag gb XagXe g[\f fctvx g[x VTf[ Y_bj \aib_ixw \f _Xff ex_\tu_x g[ta Ubg[ g[x [\Z[Xe XaW by g[x `Te^Xg TaW //

ZbiXea`Xag fhuf\w\xf) TaW fb Vbh_W _XTW gb \axyy\v\xag _XTf\aZ TaW _bffxf Ybe VTeX cebi\wxef+ LXVXag V[TaZXf gb Uhf\aXff `bwx_f \a X_WXe_l VTeX [TiX T bjxw Ybe Yheg[Xe fxvhe\gl \a g[x VTf[Y_bj by VTeX YTV\_\g\Xf+ BbjXiXe) g[x VTiXTg \f g[tg bavx g[x UTUl Ubb`Xe ZXaXeTg\ba [Tf ctffxw) g[xex j\ \^X_l UX YXjXe cxbc_x j[b TeX jx *byy gb Y\ g[xfx UXWf) j[\v[ Vbh_W exfh_g \a T WXVeXTfXW it_hx \a g[xfx YTV\_\g\Xf+?O WX`bZeTc[\V V[TaZXf [TiX T_fb VeXTgXW V[T XaZXf Ybe g[x V[\_WVTeX fxvgbe) Tf YXeg\_\gl etgxf YT TVebff g[x UbTeW+ BbjXiXe) YX`T_X cteg\v\ctg\ba \a g[x jbe^ybevx \f Vbaf\fgXag_l ba g[x hc TVebff `T]be?O Vbhage\Xf) TaW V[\_WeXaof TggXaWTaVX Tg ahefxel fv[bb_ \f T_fb exy_xvgxw \a T Vbhagelof \`cebixw XVbab`\V cxeybe`tavx+ >he\az T exvxff\ba) _bj X`c_bl`Xag etgxf _XTW gb WXVeXTf\aZ TggXaWTaVX etgx Tg ahefxe\xf Tf ctexagf j\g[ `bex g\`x _bb^ gb exwhvx V[\_WVTeX Vbfgf) `T^\aZ g[x fxvgbe `bex ih_axetu_x gb XVbab`\V VlV_Xf+ ;f g[x?o `bixf fgxtw\_l TjTl Yeb` g[x Y\aTaV\T_ Ve\f\f) g[x V[\_WVTeX fxvgbe UXVb`Xf `bex fgtu_x) Uhg g[xex fg\ ex`t\af T e\f^) T_baZ j\g[ WXV_\a\aZ U\eg[ etgxf+ FbaZ*gXe` e\f^f gb g[x fxvgbe TeX ZXaXeT l cb_\g\vt_8 g[x `Te^Xg \f cteg\vh_te_l ih_axetu_x gb V[TaZXf \a cb_\g\vt_ TaW fbv\t_ Tgg\ghWXf gb g[x YX`T_X jbe^ybevx TaW V[\_WeXaof XTe_l WXiX_bc`Xag+ Q[XeX ZbiXea`Xagf TaW _bvt_ Thg[be\g\Xf TeX f[beg ba YhaWf) V[\_WVTeX VTa UX fxxa Tf T UheWXa+ CY hax`c_bl`xag \avextfxf be fbv\t_ Tgg\ghWXf `bix gbjtewf extffxeg\az getw\g\bat_ `TfVh_\aX TaW YX`\a\aX eb_xf) `bex VTeX cebi\f\ba Vbh_W UX gt^xa UTV^ \agb g[x [b`x+ G\eebe\aZ [XT_g[VTeX) XYY\V\XaVl [Tf UXXa T f\za\y\vtag YTVgbe \a g[x fxvbawtel `Te^Xg Ybe ce\itgx \aixfg`xag \a ahef\az fxei\vxf8 Ul Vbafb_\WTg\aZ TffXgf) Vbfgf by Xdh\c`Xag) exfbhevxf TaW \afhetavx VTa UX exwhvxw TVebff T _TeZXe axgjbe^ by VTeX YTV\_\g\Xf+ Ca g[x ctfg) ahef\az fxei\vxf \a V[\_W TaW X_WXe_l VTeX [TiX UXXa `bwxfg YT`\_l Uhf\aXffXf j\g[ T f`t ah`uxe by TffXgf) Uhg Tf `bex cexffhex [Tf UXXa chg ba g[xfx YTV\_\g\Xf) fgehvghet_ V[TaZXf [TiX bvvheexw \a g[x fxvgbe gb ^XXc hc j\g[ WX`TaW+ N[X OE [Tf g[x `bfg G$; TVg\i\gl \a g[x?o) TaW \gf X_WXe_l VTeX fxvgbe \f Vb`YbegTU_l \a g[x fxvbawtel `Te^Xg fgtzx+ @heg[xe UebjaY\X_W TVg\i\gl _bb^f fxg gb Vbag\ahX TaW ZeXXaY\X_W TVg\i\gl f[bh_w \avextfx Tf Ta TZ\aZ cbch_tg\ba extv[xf exg\ex`xag \a XiXe ZeXTgXe ah`uxef+ >b`xfg\v VTeX VTa UX fxxa Tf \avb`ctg\u_x j\g[ `bwxea YT`\_\Xf TaW abg \a g[x UXfg \agxexfgf by X_WXe_l \aw\i\wht_f j\g[ Vb`c_Xk axxwf) fb `bex fcxv\t_\fxw YTV\_\g\Xf by g[x [\Z[Xfg dht_\gl TeX X`XeZ\aZ+ N[X VTiXTg gb g[\f \f g[tg g[x UTUl Ubb`Xe cbch_tg\ba UhUU_X j\ abg fhfgt\a g[x _hkhel VTeX*[b`X TffXg V_Tff \awxy\a\gx_l) cxe[tcf ba_l Ybe g[x axkg /-*0- lxtef+ Ia g[x bg[xe [TaW) fgtgx*yhawxw VTeX VTaabg fhfgt\a g[x _\YXfgl_Xf gb /0

j[\v[ fb`x exf\wxagf TeX TVVhfgb`XW abe `T\agT\a T fh\gtu_x fgtawtew by VTeX \a fb`x VTfXf+ N[X `bex ex_\tu_x exixahx fgext` by TYY_hXag exf\wxagf `Tl UX Ta TggeTVg\iX bcg\ba Uhg) gb j\wxa `Te^Xg f[tex) `bex \aixfgbef `Tl fxx^ gb cebi\wx Ybe _Xff jxt_g[l \aw\i\wht_f) UT_TaV\aZ g[x j\wxe `Te^Xg f[tex TZT\afg g[x e\f^f by ZbiXea`Xag cb_\vl TaW Y\a\gX Xdh\gl+ GbeX YT`\_\Xf [TiX gjb jbe^\az ctexagf) g[xexul \avextf\az [bhfx[b_w \avb`xf) fb exz\baf fhv[ Tf g[x OE TaW g[x HbeW\Vf) j[xex ZbiXea`Xag cb_\vl XaVbheTZXf TVVXff gb ahefxe\xf) fxx Xag[hf\Tfg\V XaZTZX`Xag j\g[ V[\_WVTeX+ N[\f T bjf Ybe VTf[ Y_bj \agb g[xfx YTV\_\g\Xf gb ex`t\a extfbatu_l fgtu_x+ N[X V[\_WVTeX fhufxvgbe [Tf T_fb fxxa WX`TaW Ybe T UXggXe dht_\gl by YTV\_\g\Xf TaW XWhVTg\ba Tg WTl VTeX VXageXf) Tf g[x _\a^ UXgjXXa fg\`h_tg\az Xai\eba`Xagf XTe_l ba \a _\YX TaW cbf\g\ix WXiX_bc`Xag \a V[\_WeXaof _XTea\aZ [Tf UXXa Xi\WXaVXW+ EIJTM *'?]Z[QVO [MZ^QKM[ LMIT[ #*()- b *()0$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][ JbegYb_\b by..- OE =TeX Bb`Xf <X_Z\h` MXa\be =TeX Bb`Xf JbegYb_\b =TeX=[b\VX Ce\f[ Hhef\aZ Bb`X LXaT\ffTaVX P\ TZXf OE B= IaX <hct.2,./,/-.4 "1-/` <X_Z\h` CeX_TaW OE MXa\be ;ff\fg Cag_+ CaYeTP\T?hebcXTa @haw CCC FXZT_ $ AXaXeT_ AXV\`XW JbegYb_\b @etavx Je\`ba\T_ 7INK>@' DHLJDK<MD<! $"#& =by\a\``b 3,.,/-.3 "/--`?`XeT_W CaiXfg`Xag JTegaXef.,3,/-.4 "46` BX_\VT_ J_V+.,.-,/-.4 "4.` AXV\`XW &AXV\aT' /3,-6,/-.3 ".+2Ua @\atav\t_ V_bfX @\atav\t_ V_bfX @\atav\t_ V_bfX @\atav\t_ V_bfX @\atav\t_ V_bfX /1

4. Funeral services and crematoria 8QO]ZM )*2 8]VMZIT [MZ^QKM[ 7F >"3 LMIT NTW_ #*(). & *()/$ 0 /-- >XT_ Vbhag /..2-.-- 2- NeTafTVg\ba ib_h`x - /-.2 /-.3 /-.4 K.*/-.5 @etavx OE McT\a NeTafTVg\ba ib_h`x &OM> `' - 7INK>@' DHLJDK<MD<! $"#& " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM".3/+1 `\ \ba &n.01+6`' " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x Gy`beT VeX`Tgbe\T TVdh\f\g\ba \a Dh_l /-.4 " N[X `bfg TVg\iX `Te^Xgf TeX g[x OE) McT\a TaW @etavx " INJJ) OMM TaW JT`c_baT =Tc\gT_ GTaTZX`Xag TeX g[x `bfg TVg\iX \aixfgbef N[X XaW*bY*_\YX ]bheaxl \av_hwxf YhaXeT_ W\eXVgbef) VeX`Tgbe\T TaW VX`XgXe\Xf+ A\iXa _bj VbeeX_Tg\ba by g[xfx TffXgf j\g[ g[x XVbab`\V VlV_X) \g \f abg fhece\f\az g[tg g[xfx fxei\vxf TeX \avextf\az_l Vbaf\WXeXW \ayetfgehvghex TffXgf+ N[XfX g[exx `Te^Xg fxz`xagf TeX f\za\y\vtag_l YeTZ`XagXW) byyxe\az bccbegha\g\xf Ybe Ubg[ Vbafb_\WTg\ba TaW ixeg\vt_ \agxzetg\ba+ Ca g[x OE) g[x YhaXeT_ \awhfgel \f Wb`\aTgXW Ul =b*bc @haxet_vtex TaW g[x FbaWba MgbV^?kV[TaZX*_\fgXW >\Za\gl) j[\v[ gbzxg[xe VTgXe Ybe Tccebk\`TgX_l T dhtegxe by OE YhaXeT_f+ N[X ex`t\awxe \f excexfxagxw Ul T `h_g\ghwx by f`t TaW \awxcxawxag YhaXeT_ W\eXVgbef) bygxa YT`\_l*bjaXW) fb Vbafb_\WTg\ba c_tlf TeX abg havb``ba+ ;Vebff?hebcX) VeX`Tgbe\T TaW VX`XgXe\Xf TeX bygxa bjaxw Ul `ha\v\ct_ Thg[be\g\Xf Uhg) \a fb`x Vbhage\Xf fhv[ Tf g[x OE) T_fb Ul ce\itgx c_tlxef+ N[X YhaXeT_ W\eXVgbef TaW VX`XgXe\Xf `Te^Xgf TeX ex_tg\ix_l fgtu_x) Tf g[x ah`uxe by WXTg[f gxawf gb UX VbafgTag ba T lxte_l UTf\f+ Ca g[x OE) g[xl T`bhagXW gb 2/2)-15 \a /-.3) T -+6# WXVeXTfX Vb`cTeXW gb /-.2+ /2

Q[Xa bcxa gb ce\itgx \aixfg`xag) VX`XgXe\Xf TeX Ta TggeTVg\iX \aixfg`xag cebcbf\g\ba8 Z\iXa g[x Vb`c_Xk\gl by c_taa\az Tcc_\VTg\baf Ybe axj YTV\_\g\Xf) \avh`uxagf VTa ZXaXeT l ex_l ba fgtu_x exixahxf+ Ia g[x bg[xe [TaW) VeX`Tg\ba etgxf [TiX T [\Z[ Zebjg[ cbgxag\t_+ IiXeT ) g[\f `Te^Xg TccXTef gb UX [\Z[_l YeTZ`XagXW) j\g[ T _TeZX cexfxavx by Ubhg\dhX \awxcxawxag YhaXeT_ W\eXVgbef+ MhV[ T _TaWfVTcX [Tf _XW fb`x YhaXeT_ fxei\vx Vb`cTa\Xf gb TVdh\eX VeX`Tgbe\T+ N[X `T\a We\iXef UX[\aW g[x \avextf\az TccXT_ by VeX`Tg\ba bixe Uhe\T_ TeX _bjxe Vbfgf TaW T _TV^ by Tccebce\TgX Uhe\T_ fctvx+ =[TaZ\aZ ex_\z\bhf Tgg\ghWXf gbjtewf VeX`Tg\ba TeX T_fb Ta \`cbegtag YTVgbe) Tf jx Tf \aw\i\wht_ VbaVXeaf fhv[ Tf g[x atghet_ TiXef\ba gb VbecbeXT_ WXVb`cbf\g\ba) be g[x YXTe by cex`tghex Uhe\T_+ 8QO]ZM )+2 5ZMUI\WZQI \W XWX]TI\QWV ZI\QW IOIQV[\ ZI\M[ WN I\PMQ[U #*()0$ # by Tg[X\fgf ( TZabfg\Vf -# /-# 1-# 3-# 5-# MjXWXa HXg[Xe_TaWf HbejTl @\a_taw?az_taw >Xa`Te^ Mj\gmXe_TaW @etavx =mxv[ LXchU_\V McT\a AXe`Tal JbeghZT_ FhkX`UbheZ?fgba\T CgT_l ;hfge\t <X_Z\h` M_biXa\T CeX_TaW FTgi\T Jb_TaW Lb`Ta\T AeXXVX 4 3 2 1 0 /. - =ex`tgbe\t gb cbch_tg\ba \awxk etg\b =ex`tgbe\t gb cbch_tg\ba \awxk etg\b ;g[x\fg F\aXTe &;g[x\fg' 7INK>@',NKI=<KIG@M@K! DHLJDK<MD<! $"#& =ex`tg\ba etgxf itel Vbaf\WXeTU_l TVebff g[x jbe_w) Tf g[xl TeX [XTi\_l \ay_hxavxw Ul Vh_gheT_ TaW ex_\z\bhf Tgg\ghWXf+ ;VVbeW\aZ gb g[x =ex`tg\ba MbV\Xgl by AeXTg <e\gt\a) 66+65# by g[x WXVXTfXW cbch_tg\ba jxex VeX`TgXW \a DTcTa \a /-.3) j[\_x ba_l -+1/# V[bfX gb UX VeX`TgXW \a Lb`Ta\T+ N[\f V_XTe_l exy_xvgf exfcxvg\ix_l <hww[\f`of cbf\g\ix TaW Ieg[bWbk =[e\fg\ta\gl f axztg\ix i\xjf ba VeX`Tg\ba+ /3

Ca VXegT\a?O Vbhage\Xf) g[xex [Tf UXXa T V_XTe f[\yg \a exvxag WXVTWXf Yeb` Uhe\T_ gb VeX`Tg\ba Tf T VbafXdhXaVX by Ubg[ fxvh_te\ftg\ba TaW V[TaZ\aZ =[e\fg\ta Tgg\ghWXf gbjtewf \av\axetg\az g[x WXVXTfXW+ ;VVbeW\aZ gb g[x =ex`tg\ba MbV\Xgl by AeXTg <e\gt\a) g[x OEof VeX`Tg\ba etgx \avextfxw Yeb` -+-4# \a.6-- gb 46+42# \a /-.1) exy_xvg\az T cebybhaw Vh_gheT_ V[TaZX+ 8QO]ZM ),2 5ZMUI\QWV[ I[ I XMZKMV\IOM WN \W\IT LMI\P[ #)11. b *().$.-- # by gbgt_ WXTg[f 5-3- 1- /- -.663 /-.2 CgT_l McT\a OE 7INK>@' *K@G<MDIH 7I>D@MP IA.K@<M )KDM<DH! DHLJDK<MD<! $"#& B\fgbe\VT l =Tg[b_\V `T]be\gl Vbhage\Xf \a g[x?o fhv[ Tf Jb_TaW &/1#') CgT_l &/0#' TaW g[x LXchU_\V by CeX_TaW &.5#' fg\ gxaw gb [TiX `hv[ _bjxe VeX`Tg\ba etgxf Vb`cTeXW gb JebgXfgTag `T]be\gl Vbhage\Xf fhv[ Tf Mj\gmXe_TaW &51#') >Xa`Te^ &5/#' TaW MjXWXa &5-#'+ BbjXiXe) Tgg\ghWXf gbjtewf VeX`Tg\ba TeX T_fb V[TaZ\aZ \a =Tg[b_\V Vbhage\Xf+ Q[\_X =Tg[b_\V Thg[be\g\Xf W\W abg getw\g\bat l [TiX YTibheTU_X i\xjf gbjtewf VeX`Tg\ba) byy\v\t_ cbf\g\baf [TiX Xib_iXW \a exvxag WXVTWXf+ Ca /-.3) g[x PTg\VTaof =bazexztg\ba Ybe g[x >bvge\ax by g[x @T\g[ chu_\f[xw g[x \afgehvg\ba p;w exfhezxawh` Vh` =[e\fgbq) V_XTe_l fgtg\az g[tg) T_g[bhZ[ Uhe\T_ by g[x UbW\Xf \f fg\ g[x cexyxeexw bcg\ba) pvex`tg\ba \f abg ceb[\u\gxwq+ BbjXiXe) g[x =[hev[ ax\g[xe cxe`\gf g[x VbafXeiTg\ba by Tf[Xf Tg [b`x abe g[x fvtggxe\az by Tf[Xf Tf \g UX_\XiXf g[xl f[bh_w UX cexfxeixw \a T ftvexw c_tvx fhv[ Tf T VX`XgXel+ N[X fgxtwl VTf[ Y_bj by g[\f fxvgbe `T^Xf \g Ta TggeTVg\iX cebcbf\g\ba Ybe \afg\ghg\bat_ \aixfgbef) Tf WX`bafgeTgXW Ul g[x /-.3 TVdh\f\g\ba by OE VX`XgXel TaW VeX`Tgbe\T WXiX_bcXe QXfgXe_X\Z[ Aebhc Ul IagTe\b NXTV[Xefo JXaf\ba J_Ta &INJJ' TaW Oa\iXef\g\Xf /4

MhcXeTaahTg\ba MV[X`X &OMM' Yeb` ;ag\a CaYeTfgehVgheX JTegaXef+ Ca @etavx) INJJ T_fb TVdh\eXW T 00# fgt^x \a IA@ Yeb` JT`c_baT \a /-.4+ Ca `bfg?o `Te^Xgf) g[x YhaXeT_ TaW VeX`Tgbe\T Uhf\aXffXf TeX fg\ YeTZ`XagXW) Z\iXa g[x cexit_xavx by f`t \awxcxawxag bcxetgbef) TaW fb g[\f byyxef fhufgtag\t_ bccbegha\g\xf Ybe Vbafb_\WTg\ba+ Ca @etavx) g[x `T\a \awhfgel c_tlxef TeX IA@) j[\v[ bcxetgxf 243 YhaXeT_ [b`xf TaW 45 VeX`Tgbe\T) TaW @haxvtc+ Ca @XUehTel /-.3) IA@ TVdh\eXW OE YhaXeT_ fxei\vx cebi\wxe ;ge\h` Yeb` g[x MThe Aebhc) TVg\iX \a jtfgxjtgxe gextg`xag+ Ca g[x CUXe\Ta JXa\afh_T) INJJ*bjaXW Gy`beT `TaTZXf./2 YhaXeT_ [b`xf) /3 VeX`Tgbe\T TaW /0 VX`XgXe\Xf+ ;abg[xe \`cbegtag TVgbe \a g[x?o `Te^Xg \f <X_Z\h`of >X_T) j[\v[ ehaf 31 YhaXeT_ W\eXVgbef TaW 1 VeX`Tgbe\T+ FG @haxet_f jtf TVdh\eXW \a /-./ Ul >h^x MgeXXg Je\iTgX?dh\gl Yeb` MbiXeX\Za =Tc\gT_) TaW g[xa fb_w gb >\Za\gl \a Dh_l /-.2 Ybe OM".-/+2 `\ \ba &u42` n52+/`'+ >\Za\gl VheeXag_l bjaf 12 VeX`Tgbe\T \a g[x OE) Y\iX by j[\v[ jxex TVdh\eXW Ul =b*bc @haxet_vtex \a /-.3 Ybe OM"25+5 `\ \ba &u10` n15+5`') Tf jx Tf.6 VX`XgXe\Xf+ ;f `Xag\baXW) \a g[x OE g[x Vbafb_\WTg\ba cebvxff \f jx hawxe jtl7 YhaXeT_ fxei\vxf Zebhc >\Za\gl abg ba_l XkcTaWXW [be\mbagt l) Ul TVdh\e\aZ bg[xe YhaXeT_ W\eXVgbef) Uhg T_fb ixeg\vt l Tf \g abj bcxetgxf T f\za\y\vtag ah`uxe by VeX`Tgbe\T TaW VX`XgXe\Xf+ >XT_ Y_bj \a exvxag lxtef) \av_hw\az g[x \avextfxw W\iXef\Y\VTg\ba by TffXgf j\g[\a g[x cbegyb_\bf by `T]be c_tlxef) WX`bafgeTgXf g[tg VeX`Tgbe\T [TiX \awxxw fxvhexw g[x\e cbf\g\ba Tf T i\tu_x fbv\t_ \ayetfgehvghex TffXg V_Tff+ Ca fb`x Vbhage\Xf) exzh_tgbel UTee\Xef `Tl cexixag ce\itgx bcxetgbef Yeb` XagXe\aZ g[x VeX`Tgbe\T TaW VX`XgXe\Xf `Te^Xg \Y g[xfx TeX bcxetgxw Ul _bvt_ Thg[be\g\Xf) j[\v[ \a ghea jbh_w cexixag YhaXeT_ fxei\vx cebi\wxef Yeb` chefh\az ixeg\vt_ \agxzetg\ba+ N[XeX \f Tabg[Xe V[T XaZX g[tg Vbh_W cbgxag\t l _\`\g g[x XkcTaf\ba by VeX`Tg\ba+ Q[\_X \g jbh_w UX XTfl gb Tffh`X g[tg VeX`Tgbe\T) Ul f\za\y\vtag_l WXVeXTf\aZ _TaW hfx) TeX `bex Xai\eba`XagT l Ye\XaW_l g[ta Uhe\T_f) g[x ext_\gl \f \a YTVg `bex Vb`c_Xk+ CaWXXW) VeX`Tg\ba cebwhvxf fxixet_ Xai\eba`XagT_ f\wx XYYXVgf) Tf YheaTVXf TeX bygxa Y\eXW Ul b\_ be atghet_ ZTf+ N[X Vb`Uhfg\ba by ex`t\af T_fb ZXaXeTgXf fxixet_ cb hgtagf) \a cteg\vh_te ZeXXa[bhfX ZTfXf fhv[ Tf VTeUba W\bk\WX TaW a\gebzxa W\bk\WX) j[\_x VbYY\af VTa cebwhvx [\Z[_l gbk\v W\bk\af+ =ex`tg\ba \f T_fb T fbhevx by X`\ff\ba by [XTil `XgT_f) fhv[ Tf `XeVhel Yh`Xf) ZXaXeTgXW Yeb` g[x \av\axetg\ba by WXagT_ Y\ \azf+ N[X Vb`U\aXW XYYXVg by g[x \avextfx \a VeX`Tg\ba TaW by T [\Z[Xe ah`uxe by Y\ \azf cxe VTWTiXe) WhX gb \avextfxw _\YX XkcXVgTaVl) Vbh_W Vbage\UhgX gb T Yheg[Xe XfVT_Tg\ba by g[x cebu_x`+ BbjXiXe) \a exvxag lxtef g[x \awhfgel [Tf `TWX fge\wxf gb UXVb`X `bex /5

fhfgt\atu_x) Ybe XkT`c_X Ul exwhv\az VTeUba X`\ff\baf) chev[tf\az X_XVge\V\gl Yeb` exaxjtu_x XaXeZl TaW cebwhv\az Xai\eba`XagT l Ye\XaW_l VbYY\af+ LXZTeW\aZ g[x YhaXeT_ W\eXVgbefo \awhfgel) bccbegha\g\xf TeX Vbaf\WXeTU_X Ybe _TeZX c_tlxef gb TVdh\eX Ubhg\dhX Uhf\aXff+ IYgXa) TYgXe g[x TVdh\f\g\ba) YT`\_l*bjaXW bcxetgbef exgt\a g[x\e b_w UeTaW gb `T\agT\a getw\g\bat_ ex_tg\baf[\cf j\g[ TaW exvbza\g\ba \a g[x _bvt_ Vb``ha\gl+?iXa `bex f\za\y\vtag Uhf\aXff bccbegha\g\xf TeX _\^X_l gb `TgXe\T_\fX \a g[x VeX`Tgbe\T Uhf\aXff+ =[TaZ\aZ ex_\z\bhf Tgg\ghWXf TeX _\^X_l gb Vbag\ahX gb UX T `T]be We\iXe \a g[x \avextfx by VeX`Tg\ba \a g[x?o) XfcXV\T l T`baZ =Tg[b_\Vf+ N[X TccXT_ by VeX`Tg\ba \f fxg gb \avextfx UXVThfX by \gf Vbfg*XYYXVg\iXaXff j[xa Vb`cTeXW gb Uhe\T_+ <he\t_ Vbfgf gxaw gb UX f\za\y\vtag_l [\Z[Xe g[ta VeX`Tg\ba) Tf g[xl \av_hwx g[x [\Z[_l fcxv\t_\fxw TaW XkcXaf\iX cetvg\vx by X`UT_`\aZ) j[\v[ \f X`c_blXW gb WX_Tl WXVb`cbf\g\ba+ ; `T]be We\iXe UX[\aW VeX`Tg\ba \avextfx j\ UX WX`bZeTc[\V gexawf) Tf g[x?oof TZ\aZ cbch_tg\ba j\ exdh\ex `bex YTV\_\g\Xf gb `XXg XkcXVgXW WX`TaW+ N[X f[tex by cbch_tg\ba bixe 32 [Tf \avextfxw \a g[x?o bixe g[x ctfg WXVTWX) j\g[ g[x ex_tg\ix_l TYY_hXag ZXaXeTg\ba by UTUl Ubb`Xef TUbhg gb XagXe g[x X_WXe_l cbch_tg\ba+ ;abg[xe `Te^Xg j[\v[ \f fxg gb XkcTaW \f excexfxagxw Ul ex_tgxw TaV\ Tel fxei\vxf) fhv[ Tf _\`bhf\axf TaW [XTefXf) VbYY\af) VTgXe\aZ TaW Y_bjXef+ EIJTM +' 8]VMZIT [MZ^QKM[ IVL KZMUI\WZQI LMIT[ #*()- & *()/$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][ Gy`beT =ex`tgbe\t =ex`tgbe\t JbegYb_\b McT\a OE IagTe\b NXTV[Xeof JXaf\ba J_Ta >\Za\gl 0\ Aebhc.4,4,.4 ".3/+1` N[X =b* bcxetg\ix Aebhc 3,2,.3 "3/` @\atav\t_ V_bfX =b``xev\t_ V_bfX 00# IA@ =ex`tgbe\t MgT^X @etavx IagTe\b NXTV[Xefo JXaf\ba J_Ta JT`c_baT =Tc\gT_ GTaTZX`Xag 1,./,.4 OaW\fV_bfXW @\atav\t_ V_bfX QXfgXe_X\Z[ Aebhc =ex`tgbe\t OE IagTe\b NXTV[Xefo JXaf\ba J_Ta Oa\iXef\g\Xf MhcXeTaahTg\ ba MV[X`X ;ag\a CaYeT JTegaXef /-,./,.3 OaW\fV_bfXW @\atav\t_ V_bfX 7INK>@' DHLJDK<MD<! $"#& /6

5. Education 8QO]ZM )-2 3VV]IT ML]KI\QWV >"3 LMIT KW]V\ IVL \ZIV[IK\QWV ^WT]UM #*()- b B) *()0$ /2 / >XT_ Vbhag /-.2.- 2 - /-.2 /-.3 /-.4 K.*/-.5.+2. -+2 - NeTafTVg\ba ib_h`x OE CeX_TaW CgT_l McT\a Nhe^Xl Mj\gmXe_TaW AXe`Tal @etavx MVbg_TaW JbeghZT_ <X_Z\h` GT_gT M_biXa\T NeTafTVg\ba ib_h`x &OM> Ua' 7INK>@' DHLJDK<MD<! $"#& " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM".+.U\ \ba &n-+6ua' TVebff.6 getaftvg\baf " N[X TiXeTZX WXT_ f\mx \a /-.4 jtf OM".24 `\ \ba &n.0-`' " >XT_ Vbhag YX gb 3 \a K. /-.5) Tf Vb`cTeXW gb 4 TVdh\f\g\baf V_bfXW \a K1 /-.4 " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x OM"/5/ `\ \ba &n/01`'?\yytzx @exav[?whvtg\ba JJJf JbegYb_\b MT_X) j[\v[ V_bfXW \a HbiX`UXe /-.4 " N[X `bfg TVg\iX `Te^Xgf TeX g[x OE TaW AXe`Tal " CHJJ)?dh\g\k) AM; Aebhc TaW >T_`beX =Tc\gT_ TeX g[x `bfg TVg\iX \aixfgbef JhU_\V fxvgbe XWhVTg\ba YTV\_\g\Xf g[tg [TiX UXXa bcxaxw hc gb ce\itgx fxvgbe \aixfg`xag \a g[x Ybe` by T chu_\v*ce\itgx ctegaxef[\c) [TiX _baz UXXa T [bg_l VbagXfgXW cebcbf\g\ba Y\efg_l Tg T ZeXXaY\X_W fgtzx TaW g[xa T_fb \a g[x fxvbawtel `Te^Xg) bavx bcxetg\bat_+ Oag\_ exvxag_l) g[x OE [TW eb XW bhg T YTe*eXTV[\aZ fv[bb_f JJJ cebzet``x) j[\v[ UebhZ[g [hawexwf by cebvhex`xag cebvxffxf gb `Te^Xg TaW aheghexw Ta \awhfgel by XWhVTg\ba \aixfgbef) bcxetgbef TaW VbageTVgbef \a g[x cebvxff+ Jeb]XVgf by g[\f ^\aw TeX hfht l V_bfX_l _\a^xw gb _bvt_ XWhVTg\ba Thg[be\g\Xf) j\g[ `TgheX VbaVXff\ba*UTfXW 0-

YeT`Xjbe^f TaW V_XTe Tccbeg\ba`Xag by e\f^) exfh_g\az \a Ta TggeTVg\iX cebcbf\g\ba Ybe \ayetfgehvghex \aixfgbef+ BbjXiXe) g[x c\cx_\ax by ZeXXaY\X_W ceb]xvgf cebvhexw g[ebhz[ g[x OEof Je\iTgX @\atavx Ca\g\Tg\iX cebzet``x &J@C' T Uhg We\XW hc Yb bj\az g[x Y\aTaV\T_ Ve\f\f) Tf ceb]xvg Vbfgf \a\g\t l \avextfxw \a g[x jt^x by g[x XVbab`\V f[bv^+ N[\f [Tf f\avx Z\iXa jtl gb f\za\y\vtag cte_\t`xagtel TaW chu_\v bccbf\g\ba gb g[x `Xg[bW) Vb`cbhaWXW Ul VT f gb XaW g[x cetvg\vx Ul g[x bccbf\g\ba FTUbhe JTegl) g[x Vb TcfX by =Te\ \ba TaW Ta T`U\iT_Xag excbeg ba g[x `Xe\gf by J@C ex_xtfxw Ul g[x HTg\baT_ ;hw\g IYY\VX XTe_\Xe \a /-.5+ Ig[Xe Vbhage\Xf) fhv[ Tf @etavx) [TiX by _TgX YbVhffXW XYYbegf ba [\Z[Xe XWhVTg\ba) j[\v[ [Tf WX_\iXeXW T ah`uxe by ha\ixef\gl JJJf gb `Te^Xg) byyxe\az bcxa\azf gb `bfg_l @exav[) Uhg T_fb \agxeatg\bat_ \aixfgbef+ N[\f c\cx_\ax ce\`te\_l TebfX WhX gb g[x @exav[ ZbiXea`Xagof J_Ta =T`chf \aixfg`xag cebzet``x YbVhffXW ba./ [\Z[Xe XWhVTg\ba \afg\ghg\baf TVebff g[x Vbhagel+ <bg[ Vb``XeV\T XaWXef TaW VTc\gT_ `Te^Xgf [TiX UXXa VT XW hcba gb Y\aTaVX g[xfx ceb]xvgf) WX`bafgeTg\aZ g[x TccXg\gX Ybe fhv[ cebcbf\g\baf+ BbjXiXe) g[x _Tfg by g[x./ [Tf abj UXXa Y\aTaVXW) j\g[ T ctv^tzx f\zaxw byy \a ;ce\_ /-.5) et\f\az g[x dhxfg\ba by j[xex YhgheX WXT_ Y_bj j\ fgx` Yeb`+ N[Tg UX\aZ ft\w) g[x fxvbawtel `Te^Xg Vbh_W exvx\ix T Ubbfg \a T YXj lxtef bavx g[x axj YTV\_\g\Xf TeX hc TaW ehaa\az TaW cbffxff WX`bafgeTU_X getv^ exvbewf+ GXTaj[\_X) g[x `Te^Xg Ybe ce\itgx XWhVTg\ba byyxef T ah`uxe by `bwx_f \a j[\v[ gb \aixfg+ @\efg_l) \awxcxawxag fv[bb_f [TiX _baz [\fgbe\xf \a fxixet_ Vbhage\Xf TVebff g[x?o by byyxe\az TVVXff gb Y\efg etgx XWhVTg\ba TaW TWiTagTZXbhf T_h`a\ axgjbe^f Ybe fghwxagf+ ;WW\g\baT l) g[x exchgtg\baf by fxixet_ fv[bb_f \a g[x?o [TiX UXVb`X jbe_w*exabjaxw) fgb^\az WX`TaW Yeb` T ctegf by g[x jbe_w Ybe T ce\itgx XWhVTg\ba \a g[x Vbag\aXag+ NT^\aZ g[x OE Tf Ta XkT`c_X) \g \f Xfg\`TgXW g[tg `bex jbe_w _XTWXef TeX XWhVTgXW \a X\g[Xe \gf ce\itgx fv[bb_f be ha\ixef\g\xf g[ta Tal bg[xe Vbhagel \a g[x jbe_w) Yheg[Xe Ubbfg\aZ \gf exchgtg\ba T`baZ Tfc\eTg\baT_ TaW jxt_g[l ctexagf Yeb` TVebff g[x Z_bUX+ Q[\_X g[xfx cexfg\z\bhf \afg\ghg\baf TeX XkcXe\XaV\aZ f\za\y\vtag WX`TaW) g[x bjaxef[\c fgehvghexf \a g[x `Te^Xg TeX fg\ ex_tg\ix_l YeTZ`XagXW) byyxe\az bccbegha\g\xf Ybe _TeZXe c_tlxef gb Uh\_W cbegyb_\bf+ BbjXiXe) `bixf \a g[\f W\eXVg\ba TeX jx hawxejtl Tf ce\itgx Xdh\gl c_tlxef \aixfg\az \a XWhVTg\ba c_tgybe`f TeX cebi\w\az g[x VTc\gT_ exdh\exw gb hawxegt^x fhv[ XkcTaf\baf+ Ia g[x Y_\cf\WX) g[x `Te^Xgf Ybe \agxeatg\bat_ fv[bb_f j\g[\a g[x?o) j[xex XkcTge\TgX fghwxagf TeX bygxa gthz[g \a X\g[Xe be Ubg[ by g[x _bvt_ gbazhx TaW g[x\e atg\ix _TaZhTZX) 0.

\f T_fb ba g[x e\fx Tf \avextf\az ah`uxef by jbe^xef `bix TebhaW g[x Vbag\aXag Ybe X`c_bl`Xag bccbegha\g\xf+ LXVXag getaftvg\baf gb [\g g[x [XTW_\aXf \av_hwx g[x ft_x Ul?\YYTZX by \gf \agxexfg \a g[exx @exav[ XWhVTg\ba JJJf gb g[x JTe\f*UTfXW ce\itgx Xdh\gl [bhfx >X`XgXe JTegaXef+ N[X OM"/5/ `\ \ba &n/1-`' WXT_ ftj f[texf \a ha\ixef\gl TaW fv[bb_ VbaVXff\baf V[TaZX [TaWf \a HbiX`UXe /-.4) j\g[ g[x @exav[ VbageTVgbe exgt\axw Ybe bcxetg\ba TaW `T\agXaTaVX Whg\Xf+ GXTaj[\_X) FTheXTgX?WhVTg\ba T_fb \a HbiX`UXe /-.4 fb_w gjb \afg\ghg\baf \a CgT_l TaW bax \a =lcehf gb AT_\_Xb A_bUT_?WhVTg\ba Ybe OM"/30 `\ \ba &n//2`'+ N[X fv[bb_f XaVb`cTff gjb ce\itgx Y\aX Tegf TVTWX`\Xf TaW T _XTW\aZ `XW\VT_ TaW WXag\fgel VXageX+ AT_\_Xb \f bjaxw Ul TffXg `TaTZXe Jebi\WXaVX?dh\gl JTegaXef) j[\v[ V_T\`f gb UX bax by g[x jbe_wof _TeZXfg ce\itgx Xdh\gl Y\e`f) YbVhf\aZ ba `XW\T) Vb``ha\VTg\baf TaW \aybe`tg\ba fxvgbef) Tf jx Tf XWhVTg\ba+ ;aw AT_\_Xb \f ]hfg bax by fxixet_ XWhVTg\ba c_tgybe`f h_g\`tgx_l bjaxw Ul c_tlxef fhv[ Tf Jebi\WXaVX+ Ig[Xe fhv[ Zebhcf bja\az XWhVTg\ba fcxv\t_\fgf g[tg [TiX `TWX TVdh\f\g\baf Whe\aZ g[x cxe\bw VbiXeXW Ul g[\f excbeg \av_hwx F\baVbheg CaiXfg`Xagf) JTegaXef Aebhc) PXe_\aiXfg) IT^_Xl =Tc\gT_ TaW EEL) T`baZ bg[xef+ N[XeX TeX VTc\gT_*\agXaf\iX UTee\Xef gb Xagel TaW) Tf WX`bafgeTgXW) fbc[\fg\vtgxw ce\itgx Xdh\gl c_tlxef T_eXTWl Uh\_W\aZ c_tgybe`f \a g[\f fxvgbe+ Ca TWW\g\ba) fv[bb_f g[e\ix ba exchgtg\baf TaW XkcXeg\fX [X_W j\g[\a \afg\ghg\ba fb Ta \avextfxw byyxe\az j\g[\a g[x fxvgbe Vbh_W VeXTgX f\za\y\vtag Vb`cXg\g\ba Ybe gxtv[\az fgtyy TaW gbc by g[x etazx YTV\_\g\Xf T`baZ e\it_ fv[bb_f+ Ig[Xe exz\baf by g[x jbe_w) Tf\WX Yeb` g[x?o) j\ bb^ gb VTc\gT_\fX ba itfg_l XkcTaWXW Z_bUT_ `\WW_X*V_Tff cbch_tg\ba Ul byyxe\az Vb`cXg\g\ba gb g[x?oof ce\itgx fv[bb_ fxvgbe \a Ta \avextf\az_l \agxeatg\bat_ XWhVTg\ba `Te^Xg+ ;f\wx Yeb` g[bfx \ffhxf) bax TeXT g[tg Vbh_W UX \`ctvgxw Ul g[x OEof ibgx \a /-.3 gb _XTiX g[x?o \f ;az_b*vxage\v \agxeatg\bat_ fv[bb_f TVebff g[x U_bV CY g[x Vbhagelof Xk\g Yeb` g[x ha\ba axztg\ix_l \`ctvgf \gf V\g\mXafo e\z[gf gb jbe^ \a bg[xe `X`UXe fgtgxf) g[\f Vbh_W \`ctvg WX`TaW Ybe g[x fxei\vxf byyxexw Ul g[xfx fv[bb_f) TYYXVg\aZ Uhf\aXff `bwx_f TaW exixahxf+ =[\XY_l) Tal T`XaW`Xag gb VheeXag YeXXWb` by `bix`xag e\z[gf Xa]blXW Ul?O V\g\mXaf j[xa Tcc_\XW gb g[x OE Vbh_W WX_\iXe T YT \a Ubg[ g[x ah`uxef by?hebcxta fghwxagf gt^\az hc T ce\itgx XWhVTg\ba c_tvx \a g[x Vbhagel) Tf jx Tf gxtv[xef `bi\az \a g[x ft`x 0/

W\eXVg\ba Ybe ]buf+ Q\g[WeTj\aZ e\z[gf gb YeXX `bix`xag Ybe?O V\g\mXaf Vb`\aZ gb g[x OE jtf T ^Xl gxaxg by g[bfx fhccbeg\az <exk\g \a Ubg[ g[x eha hc gb g[x exyxexawh`) TaW \a \gf Vbag\ah\aZ fhccbeg+ BbjXiXe) j\g[ axzbg\tg\baf bixe g[x OEof YhgheX ex_tg\baf[\c j\g[ g[x?o fg\ bazb\az) g[xex \f _\gg_x \ h`\atg\ba by [bj g[\f \`cbegtag c\ Te by `X`UXef[\c by g[x U_bV j\ UX \`ctvgxw+ HXiXeg[X_Xff) g[x havxegt\agl g[\f Ue\aZf j\ hawbhugxw_l \ay_hxavx ah`uxef by cxbc_x WXV\W\aZ gb `bix gb g[x OE Ybe jbe^ be XWhVTg\ba+ N[XeX \f ab f[begtzx by WX`TaW Ybe ce\itgx fv[bb_f \a g[x?o Tf g[xex \f Xi\WXaVX TVebff T ah`uxe by `Te^Xgf g[tg \aw\i\wht_f XWhVTgXW Tg \awxcxawxag \afg\ghg\baf [TiX T ZeXTgXe etazx by bccbegha\g\xf TiT\_TU_X gb g[x` _TgXe \a _\YX+ N[\f c_tvxf Vbaf\WXeTU_X cexffhexf ba ctexagf gb Vbag\ahX gb fxaw g[x\e V[\_WeXa gb ce\itgx fv[bb_f gb \`cebix g[x\e cebfcxvgf+ IaX by g[x cxexaa\t_ Xkcbeg*_XW fhvvxff fgbe\xf Ybe g[x OE XVbab`l \f \gf jbe_w*_xtw\az ce\itgx XWhVTg\ba fxvgbe) j[\v[ XWhVTgXf gxaf by g[bhftawf by \agxeatg\bat_ fghwxagf Tg Tal Z\iXa g\`x) `Tal by j[\v[ Vb`X Yeb` bg[xe?hebcxta Vbhage\Xf+ N[X havxegt\agl fheebhaw\az <exk\g `Tl UXaXY\g g[x ce\itgx fv[bb_f fxvgbe \a bg[xe jtlf) Tf T YT \a g[x ah`uxef by fghwxagf Yeb` g[x?o Vbh_W TeZhTU_l UX byyfxg Ul Ta \avextfx Yeb` X_fXj[XeX+ N[XeX [TiX UXXa excbegf g[tg g[x WXiT_hTg\ba by g[x <e\g\f[ cbhaw \a g[x jt^x by g[x <exk\g exyxexawh` `TWX T OE ce\itgx XWhVTg\ba `bex Vb`cXg\g\iX j\g[ Vbhage\Xf _\^X g[x OM TaW ;hfget_\t+ N[\f \f T cteg\vh_te_l \`cbegtag YTVgbe Ybe ctexagf TaW fghwxagf \a =[\at TaW X_fXj[XeX \a ;f\t) j[\v[ excexfxag g[x fgebazxfg We\iXe gb Zebjg[ \a g[x ah`uxef by \agxeatg\bat_ fghwxagf+ @heg[xe`bex) T ah`uxe by g[x _XTW\aZ \awxcxawxag fv[bb_f \a g[x OE abj bcxetgx ftgx \gx VT`chfXf XWhVTg\aZ \agxeatg\bat_ fghwxagf TebhaW g[x Z_bUX) fb XkcTaf\ba \a g[\f TeXT Vbh_W Ue\aZ `bex YTV\_\g\Xf gb `T\a_TaW?hebcX+ BbjXiXe) g[xfx TWW\g\baT_ VT`chfXf TeX bygxa YbVhfXW ba `T]be Zebjg[ `Te^Xgf Ybe?aZ_\f[ _TaZhTZX XWhVTg\ba \a c_tvxf _\^X g[x Oa\gXW ;etu?`\etgxf TaW Yheg[Xe TY\X_W \a ;f\t) TaW fb g[x \`ctvg \a?hebcx Vbh_W UX `\a\`\fxw Tf T exfh_g+ ;WW\g\baT l) Ta X`XeZXag `\WW_X V_Tff \a ;f\t) cteg\vh_te_l \a c_tvxf _\^X =[\at TaW CaW\T) \f \avextf\az_l j\ \az TaW TU_X gb XWhVTgX g[x\e V[\_WeXa \a g[x?o+ ;f g[x XVbab`\Xf by g[xfx gjb Vbhage\Xf \a cteg\vh_te Vbag\ahX gb Ubb`) g[xex \f XkcXVgXW gb UX ab _Xg*hc \a g[x fcextw by jxt_g[ T`baZ g[x\e V\g\mXaf+ Ca =[\at T_baX) Ta Xfg\`TgXW g[exx dhtegxef by g[x Vbhagelof heuta cbch_tg\ba j\ UX Vbaf\WXeXW `\WW_X V_Tff Ul /-//) hc Yeb` ba_l 1# \a /---+ 00

>hx gb g[x f[xxe ah`uxe by cxbc_x g[\f fgtg\fg\v VbiXef) \g jbh_w ba_l gt^x T f`t cebcbeg\ba by g[x Z_bUT_ cbch_tg\ba gb Vbaf\WXe XWhVTg\aZ g[x\e V[\_WeXa ce\itgx_l \a g[x?o gb WX_\iXe T f\mxtu_x Ubbfg gb WX`TaW Ybe \awxcxawxag \afg\ghg\baf TVebff g[x Vbag\aXag+ GXTaj[\_X) WhX gb g[x \agxexfg T_eXTWl f[bja Ul ce\itgx Xdh\gl \a g[x fxvgbe) \g VTa UX extfbatu_l XkcXVgXW g[tg bg[xe fhv[ Zebhcf j\ XagXe g[x `Te^Xg+ ;g g[x ft`x g\`x) Xk\fg\aZ c_tlxef j\ UX ^XXa gb XkcTaW g[x\e c_tgybe`f \a g[x TeXT j\g[ TWW\g\baT_ TVdh\f\g\baf+ EIJTM,' 7L]KI\QWV LMIT[ #*()- & *()0$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][?\YYTZX @exav[?whvtg\ba JJJf JbegYb_\b MT_X @etavx >X`XgXe JTegaXef?\YYTZX /.,..,.4 "/5/` @\atav\t_ V_bfX FTheXTgX?WhVTg\ba MV[bb_f CgT_l AT_\_Xb A_bUT_?WhVTg\ba FTheXTgX?WhVTg\ba CaV+ /6,..,.4 "/34` @\atav\t_ V_bfX MV[hX_Xe[\_YX Nhgbe\aZ AXe`Tal IT^_Xl =Tc\gT_ Je\iTgX?dh\gl CCC >XhgfV[X <XgX\_\ZhaZf ;A 4,.-,.4 "65` @\atav\t_ V_bfX <h\_w\az MV[bb_f Ybe g[x @hghex.-# OE CHJJ <T_Ybhe <XTggl /2,5,.3 "62` @\atav\t_ V_bfX HXj[T` Bbfc\gT_ $ <Teaf_Xl <M@ MgT^X OE?dh\g\k Db[a FT\aZ CaYeT @haw /0,3,.3 "31` @\atav\t_ V_bfX 7INK>@' DHLJDK<MD<! $"#& 01

6. Data centres 8QO]ZM ).2 3VV]IT LI\I KMV\ZM >"3 LMIT KW]V\ #B) *()- b B) *()0$ >XT_ Vbhag 5 4 3 2 1 0 /. - /-.2 /-.3 /-.4 K.*/-.5 OE HXg[Xe_TaWf CeX_TaW Mj\gmXe_TaW Nhe^Xl @etavx CgT_l McT\a NeTafTVg\ba ib_h`x &OM> Ua' 2 1 0 /. - NeTafTVg\ba ib_h`x 7INK>@' DHLJDK<MD<! $"#& " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x NX_XV\glAebhc TVdh\f\g\ba \a DTahTel /-.3) it_hxw Tg OM"0+5 U\ \ba &n0+.ua' " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM"126 `\ \ba &n05.`') be.-# by g[x gbgt_ ib_h`x \a /-.3 WhX gb g[x NX_XV\glAebhc TVdh\f\g\ba g[x lxte UXYbeX " >XT_ Vbhag ex`t\axw Tg gjb getaftvg\baf \a K. /-.5) g[x ft`x Tf Ybe K1 /-.4 " N[X _TeZXfg WXT_ \a g[x c\cx_\ax \f g[x OE CagXebhgX TVdh\f\g\ba it_hxw Tg OM"/+0 U\ \ba &n.+6ua' \a @XUehTel /-.5 " N[X `bfg TVg\iX `Te^Xg \f g[x OE) Yb bjxw Ul g[x HXg[Xe_TaWf) Mj\gmXe_TaW TaW @etavx "?dh\a\k) >\Z\gT_ LXT_gl Nehfg TaW CaYeTP\T TeX g[x `bfg TVg\iX \aixfgbef Ca exvxag lxtef) WTgT VXageXf [TiX X`XeZXW Tf T J@K L@ `Te^Xg) j[\v[ \f We\iXa Ul g[x ib_h`x by WTgT getyy\v &`Tff\iX_l TaW VbafgTag_l \avextf\az' TaW g[x TWiXag by V_bhW Vb`chg\aZ N[\f exdh\exf WTgT gb UX fgbexw ex`bgx_l etg[xe g[ta ba _bvt_ ba*f\gx fxeixef) [Tf _XW gb T ex`te^tu_x \avextfx \a WTgT VXageXf+ N[XfX YTV\_\g\Xf byyxe X\g[Xe j[b_xft_x be exgt\_ &Vb* _bvtg\ba' fxei\vxf gb VbecbeTgXf) Xafhe\aZ Y\efg*eTgX VbaaXVg\i\gl) VlUXe fxvhe\gl) [XTg\aZ TaW Vbb_\aZ+ >TgT VXageXf TeX U_hee\aZ \awhfgel UTee\Xef) Tf \g \f fg\ Ta bcxa dhxfg\ba 02

j[xg[xe WTgT VXageXf f[bh_w UX V_Tff\Y\XW Tf \ayetfgehvghex be ext_ XfgTgX) \Y abg gxv[ab_bzl be XiXa Y\aTaV\T_ Vb`cTa\Xf+ Ia g[x bax [TaW) WTgT VXageXf TeX XffXag\T_ W\Z\gT_ \ayetfgehvghex) Tf g[xl XafheX g[x cebcxe YhaVg\ba\aZ by T Z_bUT_ axgjbe^ VbaaXVg\aZ `\ \baf by Vb`chgXef TaW bg[xe WXi\VXf) f\`\_te gb fhufxt getaf`\ff\ba VTU_Xf+ Q[Tg \f `bex) g[xfx TffXgf TeX \avextf\az_l TggeTVg\aZ g[x \agxexfg by \ayetfgehvghex \aixfg`xag Y\e`f) fhv[ Tf CaYeTP\T =Tc\gT_ JTegaXef+ =baixefx_l) WTgT VXageXf TeX bygxa Tff\`\_TgXW gb ext_ XfgTgX ceb]xvgf) Z\iXa g[x\e f\`\_te e\f^ ceby\_x+ N[X `Te^Xg \f Wb`\aTgXW Ul WXW\VTgXW ext_ XfgTgX \aixfg`xag gehfgf &L?CNf' fhv[ Tf?dh\a\k TaW >\Z\gT_ LXT_gl) j[\v[ T bj \aw\i\wht_ \aixfgbef gb chev[tfx bjaxef[\c \a ext_ XfgTgX+ N[XfX Vb`cTa\Xfo Uhf\aXff `bwx_f TeX `T\a_l UTfXW ba TVdh\e\aZ ext_ XfgTgX TaW g[xa _XTf\aZ fctvx gb XagXece\fXf) g[xexul fxvhe\az Ta Taah\gl* fgl_x Y\kXW fgext` by ctl`xagf+ N[X WTgT VXageXf fxvgbe \f `T\a_l W\i\WXW \agb exgt\_ &Vb*_bVTg\ba' TaW j[b_xft_x) hfht l VTgXe\aZ exfcxvg\ix_l X\g[Xe gb f`t TaW `XW\h` f\mxw be _TeZX XagXece\fXf+ N[X `T\a c_tlxef TeX g[x _\^Xf by >\Z\gT_ LXT_gl Nehfg) A_bUT_ Mj\gV[) =lehfiax)?dh\a\k TaW NX_X[bhfX &T fhuf\w\tel by E>>C'+ EIJTM -' 6I\I KMV\ZM UIZSM\ #*()0$ 5WUXIVa ;MILY]IZ\MZ[?]UJMZ WN LI\I KMV\ZM[?]UJMZ WN LI\I KMV\ZM[ QV 7]ZWXM?dh\a\k LXWjbbW =\gl) =; /--( 40 >\Z\gT_ LXT_gl MTa @etav\fvb) =; /-2 05 NX_X[bhfX FbaWba 14.- =lehfiax >T Tf) NR 01. A_bUT_ Mj\gV[ FbaWba.. 4 7INK>@' DHLJDK<MD<! $"#& Oag\_ exvxag_l) WTgT VXageXf TccXTeXW gb UX fc_\g UXgjXXa bcxetgbef cebi\w\az exgt\_ Vb* _bvtg\ba fxei\vxf) fhv[ Tf?dh\a\k) TaW j[b_xft_x c_tlxef) fhv[ Tf >\Z\gT_ LXT_gl+ BbjXiXe) >\Z\gT_ LXT_glof TVdh\f\g\ba \a /-.2 by NX_k) Ta?dh\a\k Vb`cXg\gbe) WX`bafgeTgXW g[tg g[x UbeWXef UXgjXXa g[x gjb fxvgbef TeX f[\yg\az j\g[ \avextf\az_l [lue\w `bwx_f _\^X_l gb cexit\_ \a g[x YhgheX+ <Xf\WXf L?CNf) g[xex TeX T_fb c_tlxef fhv[ Tf HNN =b``ha\vtg\baf) Ta \aybe`tg\ba TaW Vb``ha\VTg\baf gxv[ab_bzl Vb`cTal &C=N' g[tg \f T fhuf\w\tel by Nb^lb*[XTWdhTegXeXW 03

H\ccba NX_XZeTc[ TaW NX_Xc[baX =becbetg\ba+ N[X cexfxavx by Y\aTaV\T_ \aixfgbef fg\ TccXTef ex_tg\ix_l f`t j[xa Vb`cTeXW gb fcxv\t_\fg WTgT VXageX bcxetgbef+ @be Ubg[ \avh`uxag TaW axj_l X`XeZ\aZ gxv[ Vb`cTa\Xf) TVdh\e\aZ ext_ XfgTgX fhv[ Tf WTgT VXageXf gb fgbex g[x\e WTgT \f abg T VbaiXa\Xag bcg\ba) Tf gxv[ Vb`cTa\Xf gxaw gb Zebj ixel dh\v^_l+ CafgXTW) _XTf\aZ WTgT fgbetzx VTcTV\gl Yeb` bcxetgbef &fhv[ Tf L?CNf' T bjf g[x` gb XkcTaW g[x\e bcxetg\baf etc\w_l) j\g[bhg [Ti\aZ gb cteg j\g[ hcyebag Vbfgf by VbafgehVg\ba be [Ti\aZ gb bja g[x TffXgf+ Gbfg by g[x fxvgbe Zebjg[ [Tf gt^xa c_tvx \a g[x OM) j[\_x g[x?o [Tf _TZZXW Vbaf\WXeTU_l+ ;g cexfxag) WTgT VXageXf \a g[x OM TeX cteg\vh_te_l VbaVXageTgXW \a VXegT\a fgtgxf) fhv[ Tf Hbeg[Xea P\eZ\a\T &HbiT' TaW g[x M\_\Vba PT Xl) Ubg[ by j[\v[ Xa]bl [\Z[* fcxxw VbaaXVg\i\gl TaW cebk\`\gl gb g[x\e Vhfgb`Xe UTfX+ HbiT) \a cteg\vh_te) \f Vbaf\WXeXW g[x jbe_wof _TeZXfg WTgT VXageX `Te^Xg) UXVThfX by _bj _TgXaVl VbaaXVg\ba gb Y\UeX bcg\v axgjbe^f TaW \gf V_bfXaXff gb OM YXWXeT_ ZbiXea`Xag TZXaV\Xf8 Ubg[ >\Z\gT_ LXT_gl TaW?dh\a\k &Tf jx Tf g[x Ybe`Xe >hjbag @TUebf' bja f\za\y\vtag cebcxeg\xf \a g[x TeXT+ Mb`X by g[x _TeZXfg fxvgbe WXT_f by /-.4 \av_hwxw >\Z\gT_ LXT_glof TVdh\f\g\ba by e\it_ >hjbag @TUebf Ybe OM"4+3 U\ \ba &n3+0ua') g[x TVdh\f\g\ba Ul?dh\a\k by /6 PXe\mba WTgT VXageXf) f\ghtgxw \a g[x OM TaW FTg\a ;`Xe\VT) Ybe OM"0+3 U\ \ba &n/+6ua') TaW g[x TVdh\f\g\ba by =XaghelF\a^of WTgT VXageXf Ul T ctegaxef[\c by <= JTegaXef TaW GXW\aT =Tc\gT_+ N[X Vbafb_\WTg\ba c_tlf g[tg bvvheexw \a g[x OM _Tfg lxte Z\iX Ta \WXT by j[tg Vbh_W [TccXa X_fXj[XeX) bavx g[x `Te^Xg cebcxe_l gt^xf byy+ Ca g[x?o) bax by g[x _TeZXfg getaftvg\baf fb YTe jtf g[x OM"0+5 U\ \ba &n0+.ua' TVdh\f\g\ba by NX_XV\glAebhc Ul \awhfgel _XTWXe?dh\a\k+ Q\g[ g[\f TVdh\f\g\ba)?dh\a\k TWWXW `bex g[ta 1- WTgT VXageXf gb \gf cbegyb_\b) \av_hw\az axj _bvtg\baf \a <h_zte\t) @\a_taw) CeX_TaW) CgT_l) Jb_TaW) MjXWXa TaW Nhe^Xl+ MhV[ T getaftvg\ba V_XTe_l \ hfgetgxf g[x \avextf\az \agxeatg\bat_ extv[ by g[x `Te^Xg _XTWXef) XTZXe gb VTgXe gb T Z_bUT_ Vhfgb`Xe UTfX+ ;abg[xe abgtu_x getaftvg\ba jtf g[x TVdh\f\g\ba \a >XVX`UXe /-.4 Ul CaYeTP\T?hebcXTa @haw CCC by AeXXa >TgTVXagXe TaW ZeXXa+V[) Vb`cTa\Xf g[tg bcxetgx Y\iX WTgT VXageXf \a Mj\gmXe_TaW) Ybe OM"/.4 `\ \ba &n.5-`' Yeb` HXg[Xe_TaWf*UTfXW gx_xvb`f Vb`cTal ;_g\vx+ CaYeTP\T?hebcXTa @haw CCC cexi\bhf_l TVdh\eXW T `T]be\gl fgt^x \a QX_f[ WTgT VXageX bcxetgbe HXkg AXaXeTg\ba >TgT &HA>' Ybe Tccebk\`TgX_l OM".03 `\ \ba &u.--` n.00`' \a Dh_l /-.3+ N[X TffXg \f ce\itgx_l VbaaXVgXW gb g[x Ze\W) Xa]bl\aZ T.5-GQ exaxjtu_x 04

cbjxe fhcc_l Yeb` >labej\z [lwebx_xvge\v cbjxe c_tag+ HA> bcxetgxf bax by g[x _TeZXfg WTgT VXageXf \a g[x?o \a HXjcbeg) Mbhg[ QT_Xf) j\g[ T fheytvx TeXT by 4-)--- `/+ Q[\_X g[x fxvgbe V_XTe_l cebi\wxf T j\wx etazx by bccbegha\g\xf) g[xex TeX fg\ YhaWT`XagT_ V[T XaZXf) fhv[ Tf cebvhe\az _bj*vbfg cbjxe Ybe XaXeZl*\agXaf\iX WTgT VXageXf+ @be ZeXXaY\X_W \aixfgbef) \g \f VehV\T_ gb Vbaf\WXe g[x [hzx X_XVge\V\gl axxwf by WTgT VXageXf) j[\v[ TeX fxg gb UX \avextf\az_l cbjxexw Ul exaxjtu_x ZXaXeTg\ba) Tf f[bja Ul QT_Xfo [lweb*cbjxexw HA>+ 8QO]ZM )/2 5W[\ WN MTMK\ZQKQ\a QV \PM 7F #*()+ & *()/$ -+.2 n cxe ^Q[ -+.1 -+.0 -+./ 7INK>@',NKILM<M! DHLJDK<MD<! $"#& M\aVX g[x ib_tg\_\gl by XaXeZl ce\vxf VTa axztg\ix_l \`ctvg WTgT VXageX Vbfgf) WTgT VXageXf j\ \avextf\az_l XagXe \agb cbjxe chev[tfx TZeXX`Xagf &JJ;' j\g[ exaxjtu_x XaXeZl cebwhvxef gb XafheX g[x\e XaXeZl fhcc_l j[\_x `XXg\aZ fhfgt\atu\_\gl ZbT_f+ JbjXe OfTZX?YYXVg\iXaXff &JO?') T `XTfheX by g[x cbjxe XYY\V\XaVl by CN Xdh\c`Xag) \f T Ve\g\VT_ ctet`xgxe Ybe WTgT VXageXf+ LXZh_Tgbel e\f^ VTaabg UX \ZabeXW X\g[Xe8 \a exvxag lxtef) g[x?hebcxta =b``\ff\ba &?=' [Tf V_XTeXW T ah`uxe by `XeZXef \aib_i\az WTgT VXageXf j\g[bhg \`cbf\az Tal VbaW\g\ba be bu_\ztg\ba) Z\iXa g[tg \a g[bfx VTfXf WTgT VXageXf excexfxagxw T fhu*fxz`xag by g[x `XeZ\aZ Xag\g\Xf+ N[X?dh\a\k,NX_XV\gl VTfX) [bjxixe) VTa UX Vbaf\WXeXW g[x Y\efg VTfX TffXffXW hawxe g[x `XeZXe Vbageb_ exz\`x \a g[x?o j[xex WTgT VXageXf jxex g[x VbeX Uhf\aXff by g[x `XeZ\aZ cteg\xf+ Ca g[\f VTfX) g[x?hebcxta =b``\ff\ba YbhaW g[tg g[x VbagXag\bhf cb\agf jxex g[x fcxv\y\v WTgT VXageX Vb_bVTg\ba TVg\i\g\Xf) g[x ZXbZeTc[\VT l 05

VbaVXageTgXW _bvtg\baf) g[x [\Z[ UTee\Xef gb Xagel Ybe axj cteg\v\ctagf exztew\az fctex cbjxe TaW VbafgehVg\ba cxe\bwf) TaW g[x [be\mbagt l bixe_tcc\az TVg\i\gl+ N[XeXYbeX) g[x VbaW\g\baf \`cbfxw ba?dh\a\k gb T bj?hebcxta =b``\ff\ba TccebiT_ by g[x bcxetg\ba exdh\exw g[x Vb`cTal gb W\iXfg gjb WTgT VXageXf \a ;`fgxewt`) Y\iX \a FbaWba TaW Tabg[Xe bax \a @eta^yheg gb >\Z\gT_ LXT_gl+ N[XfX W\iXfg`Xagf \av_hwxw g[x TffXgf TaW cxefbaax_) UXVThfX g[xl jxex axvxfftel gb XafheX g[x i\tu\_\gl TaW g[x Vb`cXg\g\iXaXff by g[x W\iXfg`Xag) TaW g[x UXaXY\g by g[x Y\UeX bcg\v _XTfXf VbaaXVgXW g[x axgjbe^ Xdh\c`Xag jtf T_fb getafyxeexw gb g[x chev[tfxe+?agel UTee\Xef gb g[x fxvgbe TeX e\f\az Tf \awhfgel _XTWXef fhv[ Tf?dh\a\k TaW >\Z\gT_ LXT_gl) j[\v[ VTa Vbhag ba T _bjxe Vbfg by VTc\gT_ g[ta f`t Xe c_tlxef) TeX Zebj\aZ g[ebhz[ Vbafb_\WTg\ba c_tlf+ N[X Vb`cTa\Xf TeX T_fb \avextf\az_l U_hee\aZ \awhfgel UbhaWTe\Xf TaW cbffxff \agxeatg\bat_\ftg\ba fgetgxz\xf+ ;f \awhfgel _XTWXef) g[xfx Zebhcf TeX cteg\vh_te_l TccXT_\aZ gb Vhfgb`Xef Tf g[xl T bj g[x\e VbecbeTgX V_\Xagf gb XkgXaW g[x\e Z_bUT_ extv[ g[ebhz[ T cexfxavx TVebff g[x jbe_w+ >TgT VXageXf TeX fxaf\g\ix gb g[x XVbab`\V VlV_X) j\g[ T exvxff\ba _\^X_l gb [T_g Ubg[ g[x ce\`tel TaW g[x fxvbawtel `Te^Xg+ Jb_\g\VT_ e\f^ \f T_fb T YTVgbe Tf g[x \ffhx by WTgT fbixex\zagl) Ybe XkT`c_X \a T cbfg*<exk\g Xai\eba`Xag) Vbh_W _\`\g FbaWbaof cbf\g\ba Tf T _XTW\aZ?O [hu) ceb`cg\az T VbeeXfcbaW\aZ Zebjg[ \a g[x?o/4+ @\at l gxv[ab_bzl e\f^ Vbh_W cbgxag\t l [TiX W\fehcg\iX XYYXVgf) Ul `T^\aZ Xk\fg\aZ WTgT VXageXf bufb_xgx) Ybe XkT`c_X g[ebhz[ fgbetzx `\a\tghe\ftg\ba) T_g[bhZ[ \g \f W\YY\Vh_g gb TffXff [bj _\^X_l g[\f \f+ M\aVX T _TV^ by hawxefgtaw\az by WTgT VXageXf \f bygxa Ta bufgtv_x Ybe \aixfgbef) g[x _TggXe TeX fxg gb \avextf\az_l ctegaxe j\g[ WTgT VXageX bcxetgbef be gx_xvb``ha\vtg\baf Vb`cTa\Xf+ ;`baz g[x f\k TffXg V_TffXf XkT`\aXW \a g[\f excbeg) WTgT VXageXf TeX `bex _\^X_l gb hawxezb etc\w Zebjg[) ce\`te\_l \a gxe`f by g[x VbafgehVg\ba by axj ZeXXaY\X_W ceb]xvgf) \a g[x lxtef TaW WXVTWXf gb Vb`X+ Q[\_X bg[xe fxvgbef TaT_lfXW \a g[\f excbeg) fhv[ Tf [bfc\gt_f) [XT_g[VTeX TaW XWhVTg\ba) TeX ce\`te\_l \`ctvgxw Ul g[x \agxec_tl by WX`bZeTc[\V gexawf fhv[ Tf `begt_\gl) YXeg\_\gl TaW `\ZeTg\ba) Ybe WTgT VXageXf g[x `T\a We\iXe \f gxv[ab_bz\vt_ \aabitg\ba+ N[X axkg jtix by W\fehcg\ba j\ Tee\iX j\g[ g[x eb bhg by 2A UebTWUTaW) T ^Xl XaTU_Xe by CagXeaXg by N[\aZf &CbN' Tcc_\VTg\baf) fhv[ Tf ;Pf+ MX_Y*We\i\aZ VTef j\ ZXaXeTgX) TVVbeW\aZ gb Xfg\`TgXf) `bex g[ta 1 gxetulgxf by WTgT &1)---A<' Ybe XiXel X\Z[g [bhef by We\i\aZ) _XTW\aZ gb T `Tff\iX \avextfx \a WTgT fgbetzx axxwf+ 06

;f `Xag\baXW) g[x fvt_x by TVdh\f\g\baf \a g[x?o \f fg\ Vbaf\WXeTU_l _bjxe g[ta \a g[x OM) fhzzxfg\az g[tg g[x cbgxag\t_ Ybe Zebjg[ \f f\za\y\vtag+ ;f fhv[) \g \f extfbatu_x gb XkcXVg Ta XkcTaf\ba by ZeXXaY\X_W WTgT VXageXf \a g[x?o Vb`cTeTU_X gb g[tg by g[x Hbeg[ ;`Xe\VTa `Te^Xg) gb UX Yb bjxw Ul jtixf by fxvbawtel TVg\i\gl+ <TfXW ba OM gexawf) g[x exz\baf j\g[ g[x [\Z[Xfg WTgT VXageX cbgxag\t_ j\g[\a?o Vbhage\Xf TeX g[bfx V_bfX gb _XTW\aZ ZbiXea`Xag TZXaV\Xf TaW XVbab`\V [huf) j[\_x T_fb Xa]bl az [\Z[*dhT_\gl \agxeaxg VbaaXVg\baf) _bj*vbfg cbjxe fhcc_\xf TaW TeX ex_tg\ix_l ftyx Yeb` atghet_ [TmTeWf fhv[ Tf fx\f`\v g[extgf+ CaYeTfgehVgheX \aixfgbef TffXff\aZ g[x fxvgbe TeX _\^X_l gb UXaXY\g Yeb` T Y\efg*`biXe TWiTagTZX) XfcXV\T l j\g[ g[x?oof `Te^Xg fg\ \a \gf \aytavl+ ;g g[x `b`xag) g[x?oof fxvbawtel `Te^Xg \f _\`\gxw Ul T ex_tg\ix fvtev\gl by bcxetg\bat_ TffXgf Vb`cTeXW gb g[x OM) Uhg g[xex TeX YXj WbhUgf g[tg g[x 2A*We\iXa W\Z\gT_\fTg\ba by fbv\xgl TaW g[x bazb\az cebvxff by VbecbeTgX bhgfbhev\az by WTgT fgbetzx j\ XTW gb Ta hcg\v^ \a g[x VbafgehVg\ba by _TeZX YTV\_\g\Xf+?O ZeXXaY\X_W WTgT VXageX ceb]xvgf gxaw gb UX VbaVXageTgXW \a g[x `T\a Uhf\aXff [huf by FbaWba) JTe\f TaW @eta^yheg) j[\_x g[x `Te^Xgf \a Vbhage\Xf fhv[ Tf CgT_l TaW McT\a TeX f\za\y\vtag_l hawxewxix_bcxw) cexfxag\az Vbaf\WXeTU_X XkcTaf\ba cbgxag\t_+ >TgT VXageXf bygxa byyxe _baz*gxe` _XTfXf gb Y\aTaV\T l ebuhfg gxatagf) g[xexybex byyxe\az Ta bccbegha\gl gb \afg\ghg\bat_ \aixfgbef _bb^\az Ybe _baz*gxe`) fgxtwl VTf[Y_bjf+ IYgXa \avbeexvg_l Vbaf\WXeXW Tf abg[\az `bex g[ta XkcXaf\iX jtex[bhfxf) WTgT VXageXf TVghT l exdh\ex [\Z[_l fcxv\t_\fxw f^\ f gb UX ftyx_l bcxetgxw TaW `TaTZXW) Vb`cXafTg\aZ \aixfgbef j\g[ YT\e_l [\Z[ exgheaf+ N[X WTgT VXageXf \awhfgel [Tf Vbag\ahXW gb Zebj) g[ta^f gb g[x ex_tg\ix_l [\Z[ W\i\WXaW \avb`xf \g cebi\wxf &L?CNf bygxa byyxexw WbhU_X W\Z\g ceby\gf \a exvxag lxtef') g[x Vbag\ahbhf fhcc_l by VTc\gT_ Ul \aixfgbef TaW g[x fxvhe\gl TaW fvt_tu\_\gl g[xl byyxe gb g[x\e V_\Xagf+ Cg \f g[xexybex gb UX XkcXVgXW g[tg \afg\ghg\bat_ \aixfgbef j\ UX \avextf\az_l \aib_ixw \a g[x VbafgehVg\ba by ZeXXaY\X_W YTV\_\g\Xf) \a g[x chev[tfx by bcxetg\bat_ TffXgf Tf jx Tf \a g[x TVdh\f\g\baf by WTgT VXageXf bcxetgbef) T gexaw g[tg \f T_eXTWl [TccXa\aZ \a fxixet_ Vbag\aXagf+ @be XkT`c_X) \a GTeV[ /-.4) WTgT VXageX cebi\wxe PTagTZX >TgT =XageXf jtf TVdh\eXW Ul T Vbafbeg\h` Vb`ce\fXW by Vb``ha\VTg\baf \ayetfgehvghex Vb`cTal >\Z\gT_ <e\wzx) JhU_\V MXVgbe JXaf\ba CaiXfg`Xag <btew &JMJ CaiXfg`Xagf' TaW NC;; CaiXfg`Xagf) Ta TYY\_\TgX by HhiXXa+ Ca TWW\g\ba) \a IVgbUXe /-.4) g[x =TaTWT JXaf\ba J_Ta CaiXfg`Xag <btew &=JJC<' ctegaxexw j\g[ ;_c[t CaiXfg`Xag JTegaXef TaW EXccX_ >TgT =XageXf &Ubg[ cteg by M\aZTcbeXof EXccX_ Aebhc') gb \aixfg OM"02- `\ \ba &n/6-`' \a WTgT VXageXf \a ;f\t JTV\Y\V exz\ba TaW g[x?o+ 1-

EIJTM.' 6I\I KMV\ZM[ LMIT[ #*()- & *()0$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][ CagXebhgX OE ANN =b``ha\vtg\baf SXa\h` >TgT =XageX OE =lehfiax SXa\h` CagXebhgX /3,/,/-.5 "/+0Ua /.,./, /-.4 "11/` =b``xev\t_ V_bfX =b``xev\t_ V_bfX?dh\a\k >TgT =XagXe JbegYb_\b OE) HXg[Xe_TaWf) AXe`Tal >\Z\gT_ LXT_gl Nehfg?dh\a\k.3,2,/-.3 "541` ;ccebixw, =bafxagxw AeXXa >TgTVXageX TaW ZeXXa+V[ Mj\gmXe_TaW CaYeTP\T?hebcXTa @haw CCC ;_g\vx //,/,/-.5 "///` @\atav\t_ V_bfX CaYeTVb` ;Vdh\f\g\ba CgT_l @/\ @baw\ CgT_\Ta\ cxe _X \ayetfgehgghex) GTedhXe\gX ;1 Bb_W\aZ /5,4,/-.4 ".3-` @\atav\t_ V_bfX NX_XV\glAebhc OE?dh\a\k NX_XV\gl Aebhc.2,.,/-.3 "0+5Ua @\atav\t_ V_bfX 7INK>@' DHLJDK<MD<! $"#& 1.

7. Car parks 8QO]ZM )02 3VV]IT KIZ XIZS[ >"3 LMIT KW]V\ IVL \ZIV[IK\QWV ^WT]UM #*()- b B) *()0$ >XT_ Vbhag 4 3 2 1 0 /. - /-.2 /-.3 /-.4 K.*/-.5 OE Jb_TaW @etavx AXe`Tal McT\a CgT_l HXg[Xe_TaWf NeTafTVg\ba ib_h`x &OM> Ua' 2 1 0 /. - NeTafTVg\ba ib_h`x 7INK>@' DHLJDK<MD<! $"#& " G$; WXT_ it_hx \a /-.4 T`bhagXW gb OM"1+/ U\ \ba &n0+1ua') 201# [\Z[Xe g[ta \a /-.3 " N[X TiXeTZX WXT_ f\mx \a /-.4 jtf OM"51/ `\ \ba &n366`' j\g[ f\k getaftvg\baf \a /-.4 " N[X _TeZXfg WXT_ \a g[x /-.2*/-.5 cxe\bw jtf g[x OM"0+2 U\ \ba &n/+6ua' K*JTe^ TVdh\f\g\ba j[\v[ V_bfXW \a IVgbUXe /-.4 " N[X _TeZXfg WXT_ \a g[x c\cx_\ax \f g[x?`cte^ McTa\f[ =Te JTe^ IcXeTgbe TVdh\f\g\ba it_hxw Tg OM"24. `\ \ba &n142`' " N[X `bfg TVg\iX `Te^Xg \f g[x OE) Yb bjxw Ul McT\a TaW g[x HXg[Xe_TaWf " EEL) ;ew\ta CaYeTfgehVgheX TaW GTVdhTe\X TeX g[x `bfg TVg\iX \aixfgbef Ca /-.1) TVVbeW\aZ gb VTe cte^ bcxetgbe K*JTe^) g[x?o VTe cte^ `Te^Xg Vb`ce\fXW 11- `\ \ba cte^\az fctvxf+ Q[\_X g[x cbgxag\t_ `Te^Xg \f XkgeX`X_l _TeZX) g[x \awhfgel \f fg\ ex`te^tu_l YeTZ`XagXW+ Gh_g\*fgbeXl VTe cte^f TeX bygxa bcxetgxw Ul `ha\v\ct_\g\xf) Tf jx Tf Ul f[bcc\az `T f) V\aX`Tf TaW T\ecbegf) j[\_x haexzh_tgxw ba*fgexxg cte^\az \f fg\ ixel Vb``ba+ ;_`bfg T g[x `T]be?O Vbhage\Xf) j\g[ g[x XkVXcg\ba by CgT_l TaW CeX_TaW) [TiX _TeZX Wb`Xfg\V c_tlxef+ Mb`X by g[x _TeZXfg `Te^Xg cteg\v\ctagf \av_hwx @etavxof CaW\Zb 1/

&Ybe`Xe_l P\aV\ JTe^') AXe`Talof ;cvbt) HXg[Xe_TaWfo K*JTe^) g[x OEof HTg\baT_ =Te JTe^f &H=J') <X_Z\h`of CagXecTe^\aZ TaW McT\aof?`cTe^ TaW MTUT+ Q[\_X VTe cte^f byyxe VTf[ Y_bj fgtu\_\gl TaW [\Z[ Xagel UTee\Xef) g[x `T\a VTe cte^ bcxetgbef gxaw gb [TiX W\YYXeXag Uhf\aXff `bwx_f) j\g[ W\YYXeXag `Te^Xg XkcbfheX+ N[X?Oof fxvbawtel `Te^Xg Ybe VTe cte^f [Tf fxxa fb`x TVg\i\gl \a exvxag dhtegxef) j\g[ T YXj by g[x _TeZXfg bcxetgbef) fhv[ Tf K*JTe^ TaW?`cTe^) chg ba ft_x TaW UbhZ[g Ul \ayetfgehvghex \aixfgbef) fhv[ Tf EEL TaW GTVdhTe\X) \a /-.4+ Ca Dh_l /-.4) GTVdhTe\X?hebcXTa CaYeTfgehVgheX @haw 2 &G?C@2' chev[tfxw McTa\f[ VTe cte^ bcxetgbe?`cte^ Yeb` ext_ XfgTgX Zebhc ;+ M\_iT $ M\_iT+?`cTe^ [Tf 202)--- cte^\az fctvxf \a f\k Vbhage\Xf) j\g[ T cteg\vh_te YbVhf ba McT\a TaW JbeghZT_+ Ca IVgbUXe /-.4) EEL Vb`c_XgXW \gf TVdh\f\g\ba by >hgv[ VTe cte^ bcxetgbe K*JTe^ Ybe OM"0+0 U\ \ba &n/+5ua'+ K*JTe^ bcxetgxf Tccebk\`TgX_l 3)--- VTe cte^f \a gxa??; Vbhage\Xf+ Cg \f _\^X_l g[tg) \a g[x _baz*gxe`) g[x `Tff TWbcg\ba by Thgb`TgXW ix[\v_xf &;Pf' j\ cebybhaw_l W\fehcg g[x VTe cte^ fxvgbe+ >XcXaW\aZ ba g[x YhgheX WXiX_bc`Xag by g[x ;P `Te^Xg) \g \f cbff\u_x g[tg g[\f gxv[ab_bzl Vbh_W _XTW gb g[x W\fTccXTeTaVX by V\gl VTe cte^f) \a YTibhe by g[x X`XeZXaVX by `XZT fhuheuta VTe cte^f+ GbeX fcxvh_tg\ix_l \aw\i\wht_ VTe bjaxef[\c Vbh_W UXVb`X bufb_xgx) j\g[ VbecbeTgXf bja\az itfg Vb``XeV\T_ Y_XXgf+ BXaVX) g[x `T\a V_\Xagf by VTe cte^f Vbh_W UXVb`X g[x _\^Xf by ;cc_x) OUXe TaW QTl`b &AbbZ_X') etg[xe g[ta ce\itgx ix[\v_x bjaxef+ ;f fhv[) ;Pf Vbh_W etw\vt l W\fc_TVX \aw\i\wht_ bjaxef[\c `bwx_f) W\fehcg\aZ g[x Uhf\aXff `bwx_ by VTe cte^f Tf T j[b_x+ BbjXiXe) g[x atghex TaW g[x g\`x_\axf by g[x V[TaZXf \f fg\ TeZX_l g[xbexg\vt_+ HXiXeg[X_Xff) \g \f jbeg[ `Xag\ba\aZ g[tg fb`x ZeXXaY\X_W VTe cte^f TeX T_eXTWl UX\aZ c_taaxw \a i\xj by T cbgxag\t_ exvbaixef\ba gb bg[xe hfxf TYgXe T YXj lxtef+ Iccbegha\g\Xf \a g[x VTe cte^ fxvgbe TeX WhX gb e\fx) Z\iXa g[x f[\yg Yeb` YeXX ba*fgexxg cte^\az gb ce\itgx_l `TaTZXW `bwx_f+ Ca _TeZX V\g\Xf) Veh\f\aZ Ybe cte^\az fctvxf \f bygxa abg ba_l g\`x*vbafh`\az TaW fgexff*cebwhv\az) Uhg \g T_fb f\za\y\vtag_l \avextfxf bixet getyy\v) YhX_ Vbafh`cg\ba TaW cb hg\az X`\ff\baf+ >\Z\gT_\fTg\ba Vbh_W abg ba_l UX T `T]be We\iXe \a g[x WXiX_bc`Xag by \aabitg\ix VTe cte^f) Uhg T_fb cebi\wx \aybe`tg\ba gb We\iXef ba TiT\_TU_X ba*fgexxg TaW byy*fgexxg cte^\az c_tvxf i\t ix[\v_x*gb*ix[\v_x &P/P' TaW ix[\v_x*gb*\ayetfgehvghex &P/C' 10

Vb``ha\VTg\ba+ >\Z\gT_\fTg\ba j\ [TiX T `T]be \`ctvg ba Ubg[ ZeXXaY\X_W TaW UebjaY\X_W WXiX_bc`Xagf+ HXj VTe cte^f TeX _\^X_l gb UX Yheg[Xe W\Z\gT_\fXW TaW Thgb`TgXW) exwhv\az bcxetg\bat_ Vbfgf TaW \avextf\az TffXg cebwhvg\i\gl+ Ca cteg\vh_te) Thgb`TgXW cte^\az flfgx`f &;JM' j\ bcg\`\fx g[x ah`uxe by cte^\az fctvxf TaW exwhvx _TaW Vbafh`cg\ba) g[bhz[ exdh\e\az [\Z[Xe hc*yebag Vbfgf Ybe g[x bcxetgbef+?k\fg\az VTe cte^f) j[\v[ TeX TccebTV[\aZ g[x XaW by g[x\e _\YX*VlV_X) Vbh_W UX exgeby\ggxw gb f\za\y\vtag_l \avextfx VTe bvvhctavl+ Ca TWW\g\ba) g[x \avextf\az W\Z\gT_\fTg\ba by VTe cte^f) Vb`U\aXW j\g[ cxeitf\ix i\wxb fheix\ TaVX) \f fxg gb Yheg[Xe exwhvx g[x ah`uxe by fgtyy axvxfftel gb `T\agT\a TaW bcxetgx VTe cte^f+?pf TeX \avextf\az_l cexfxag \a?o Vbhage\Xf) TaW g[x CagXeaTg\baT_?aXeZl ;ZXaVl &C?;' XkcXVgf g[tg g[xex j\ UX /-- `\ \ba?pf Z_bUT l Ul /-0-+ N[X VTc\gT_*\agXaf\iX exdh\ex`xagf by \afgt \az?p \ayetfgehvghex j\ cebi\wx T Yheg[Xe UTee\Xe gb Xagel \a g[x VTe cte^ `Te^Xg+ N[\f bcxaf hc Ta bccbegha\gl Ybe g[x `Te^Xg gb UX Wb`\aTgXW Ul T YXj `T]be c_tlxef j\g[ f\mtu_x VTc\gT_ exfxeixf TaW Vbaf\WXeTU_X `TabXhieTU\_\gl) j[\_x T_fb X_\`\aTg\aZ g[x cexfxavx by f`t Xe VTe cte^f Xag\g\Xf j\g[bhg g[x TU\_\gl gb Vb`c_l j\g[ YhgheX ftyxgl exzh_tg\baf+ N[X VTe cte^ \awhfgel j\ T_fb UXaXY\g Yeb` TWW\g\baT_ X`UXWWXW VbaaXVg\i\gl YXTgheXf) Tf WXW\VTgXW Tccf j\ T bj We\iXef gb Y\aW cte^\az fctvxf g[ebhz[ f`tegc[bax Tccf+ ; by g[xfx gxv[ab_bz\vt_ V[TaZXf j\ \avextfx hcyebag Xdh\c`Xag Vbfgf) TaW Yheg[Xe et\fx Xagel UTee\Xef+ IaX \`cbegtag bazb\az getafybe`tg\ba VbaVXeaf g[x \`ctvg by `bu\_\gl Tf T fxei\vx &GTTM') j[\v[ \av_hwx e\wx*f[te\az Tccf fhv[ Tf OUXe) Tf jx Tf VTe f[te\az fxei\vxf+ Q[\_X \g jbh_w UX XTfl gb Tffh`X g[tg g[x TWbcg\ba by VTe f[te\az Vbh_W [\awxe g[x VTe cte^ \awhfgel) GTTM \f abg axvxffte\_l _XTW\aZ gb T WXVeXTfX \a g[x ah`uxe by VTef V\eVh_Tg\aZ Uhg \f VeXTg\aZ `bex `h_g\`bwt_\gl+ ;f `Xag\baXW) g[x VTe cte^ \awhfgel \a g[x?o \f T_eXTWl Zb\aZ g[ebhz[ T cebvxff by Vbafb_\WTg\ba+ CgT_l fxx`f g[x ba_l `T]be?O Vbhagel g[tg WbXf abg [TiX T Vb`cTeTU_X _XTW\aZ c_tlxe) [XaVX cexfxag\az ex`te^tu_x bccbegha\g\xf Ybe Vbafb_\WTg\ba c_tlf+ Mg\ ) XiXa g[x `bfg `TgheX?O `Te^Xgf TeX ixel YeTZ`XagXW) cexfxag\az f\za\y\vtag bccbegha\g\xf Ybe TVdh\f\g\baf+ 11

EIJTM /' 5IZ XIZS[ LMIT[ #*()- & *()0$ 6MIT 5W]V\Za 4]aMZ DMTTMZ 6I\M 5IXM` D\I\][ ;ew\ta CaW\Zb JTe^\aZ OE K*JTe^ HXg[Xe_TaWf EEL?`cTe^ McTa\f[ =Te JTe^ IcXeTgbe JTe^\T McTa\f[ =Te JTe^f McT\a McT\a GTVdhTe\X) =[XhaZ EbaZ CaYeT Bb_W\aZf GTVdhTe\X?hebcXTa CaYeT @haw P @\efg MgTgX ;ew\ta) JeXW\VT PTe\bhf \aixfgbef ;+ M\_iT $ M\_iT Aebhc?KN) GhghT GTWe\_XzT 6,2,/-.4 "2+/Ua <\Wf fhu`\ggxw.2,.-,/-.4 "0+2Ua @\atav\t_ V_bfX /3,.-,/-.4 "220` =b``xev\t_ V_bfX /4,3,/-.3 "12-` @\atav\t_ V_bfX HTg\baT_ =Te JTe^f MT_X OE JTe^/1) >XiX_bc`Xag <Ta^ by DTcTa GTVdhTe\X?hebcXTa CaYeT @haw CC 5,0,/-.4 "1.-` @\atav\t_ V_bfX 7INK>@' DHLJDK<MD<! $"#& 12

8. Non-core infrastructure assets in Italy 8QO]ZM )12 <\ITa VWV&KWZM >"3 LMIT KW]V\[ Ja [MK\WZ #*()- b *()/$ >XT_ Vbhag.3.1./.- 5 3 1 / - /-.2 /-.3 /-.4 K. /-.5.3--.1--./--.--- 5-- 3-- 1-- /-- - NeTafTVg\ba ib_h`x =Te cte^f >TgT VXageXf?WhVTg\ba Bbfc\gT_f TaW [XT_g[VTeX NeTafTVg\ba ib_h`x &OM> `' 7INK>@' DHLJDK<MD<! $"#& N[\f V[TcgXe YbVhfXf ba g[x WXiX_bc`Xag by g[x fxvbawtel `Te^Xg Ybe aba*vbex \ayetfgehvghex TffXgf \a CgT_l \av_hw\az7 " [bfc\gt_ TaW [XT_g[VTeX fxei\vxf " ahef\az fxei\vxf " YhaXeT_ fxei\vxf " XWhVTg\ba " WTgT VXageXf " VTe cte^f N[X `Tghe\gl by g[xfx TffXgf ite\xf Vbaf\WXeTU_l ba T atg\bat_ TaW exz\bat XiX_+ Bbfc\gT_f TaW XWhVTg\ba) j[\v[ ftj f\za\y\vtag ZeXXaY\X_W \aixfg`xag \a g[x XTe_l cteg by g[x /---of) TeX abj Vb`YbegTU_l \a T fxvbawtel `Te^Xg fgtzx) j[xextf WTgT VXageXf) ahef\az fxei\vxf) YhaXeT_ fxei\vxf TaW VTe cte^f TeX fg\ fgehzz_\az gb UXVb`X XfgTU_\f[XW `Te^Xgf \a CgT_l) WhX gb bazb\az WXiX_bc`Xag) fbv\t_ bufgtv_xf TaW exz\bat_ YeTZ`XagTg\ba+ 13

GTe^Xgf j\g[ Xk\fg\aZ TffXgf fhv[ Tf ahef\az [b`xf TaW VTe cte^f Vbh_W UXaXY\g Yeb` Vbafb_\WTg\ba `bixf+ BbjXiXe) fb`x CgT_\Ta aba*vbex TffXg V_TffXf) fhv[ Tf YhaXeT_ fxei\vxf TaW WTgT VXageXf) jbh_w exdh\ex Vbaf\WXeTU_X ZeXXaY\X_W TVg\i\gl UXYbeX T `TgheX `Te^Xg Ybe Vbaf\WXeTU_X G$; TVg\i\gl Vbh_W UX XfgTU_\f[XW+ ;f fxxa \a @\ZheX.6) CgT_lof TVg\i\gl \a g[x fcxv\y\xw aba*vbex TffXg fxvgbef [Tf \avextfxw Ul bixe g[exxyb_w TaW W\iXef\Y\XW) Yeb` Ybhe getaftvg\baf bvvhee\az \a g[x [bfc\gt_ fxvgbe \a /-.2) gb.0 ceb]xvgf \a [bfc\gt_f) XWhVTg\ba TaW VTe cte^f \a /-.4+ ;f fhv[) g[x TVg\i\gl [Tf ce\`te\_l UXXa chf[xw Ul [bfc\gt_f TaW [XT_g[VTeX+ =ex`tgbe\t TaW ahef\az [b`xf TeX f\za\y\vtag_l hawxe WXiX_bcXW \a g[x Vbhagel) TaW g[xex TeX fhufgtag\t_ fbv\xgt_ \`cxw\`xagf gb g[xfx fxvgbef gt^\az byy+ Q\g[ g[x XkVXcg\ba by [bfc\gt_f TaW [XT_g[VTeX fxei\vxf) j[xex CgT_l XkcXe\XaVXW T f\za\y\vtag WXT_ Y_bj) `bfg aba*vbex \ayetfgehvghex TffXgf TccXTe ex_tg\ix_l hawxewxix_bcxw Vb`cTeXW gb bg[xe?o Vbhage\Xf+ N[XeX TeX T ite\xgl by extfbaf j[l g[xfx `Te^Xgf [TiX lxg gb X`XeZX Yh l) `Tal by j[\v[ TeX fcxv\y\v gb XTV[ fxvgbe+ Ca ZXaXeT_) g[x exz\bat_ WXi\Tg\baf \a Vh_gheX) jxt_g[) exzh_tg\ba TaW \aabitg\ba TVebff g[x Vbhagel jbh_w `T^X T atg\baj\wx \a\g\tg\ix W\YY\Vh_g gb \`c_x`xag) Uhg VTeXYh l gt\_bexw \aixfg`xagf TaW TVdh\f\g\baf Vbh_W UX jbeg[j[\_x+ CgT_lof ce\itgx [XT_g[VTeX fxvgbe) _\^X g[x OEof) f\gf T_baZf\WX \gf chu_\v [XT_g[VTeX flfgx`+ N[X CgT_\Ta atg\bat_ [XT_g[ fxei\vx &MXei\m\b MTa\gTe\b HTm\baT_X' jtf fxg hc \a.645) j\g[ ha\ixeft_ VbiXeTZX) fb_\wte\gl) [h`ta W\Za\gl) TaW [XT_g[ axxwf Tf \gf Zh\W\aZ ce\av\c_xf+ Cg \f exz\bat l UTfXW TaW bezta\mxw Tg g[x atg\bat_) exz\bat_) TaW _bvt XiX_f+ OaWXe g[x CgT_\Ta =bafg\ghg\ba) g[x VXageT_ ZbiXea`Xag Vbageb_f g[x W\fge\Uhg\ba by gtk exixahx Ybe chu_\v_l Y\aTaVXW [XT_g[ VTeX TaW WXY\aXf T atg\bat_ fgtghgbel UXaXY\gf ctv^tzx gb UX byyxexw gb T exf\wxagf \a XiXel exz\ba) g[x XffXag\T XiX_f by VTeX &_\ix \ XffXam\T_\ W\ Tff\fgXamT be F?;'+ N[X.6 exz\baf TaW g[x gjb Thgbab`bhf cebi\avxf by NeXagb TaW <b_mtab [TiX g[x exfcbaf\u\_\gl gb bezta\mx TaW WX_\iXe [XT_g[ fxei\vxf g[ebhz[ _bvt_ [XT_g[ ha\gf+ LXZ\baf Xa]bl f\za\y\vtag Thgbab`l \a WXgXe`\a\aZ g[x `TVeb fgehvghex by g[x\e [XT_g[ flfgx`f+ FbVT_ [XT_g[ ha\gf TeX `TaTZXW Ul T ZXaXeT_ `TaTZXe Tccb\agXW Ul g[x ZbiXeabe by g[x exz\ba) TaW WX_\iXe ce\`tel VTeX) [bfc\gt_ VTeX) bhgctg\xag fcxv\t_\fg VTeX) chu_\v [XT_g[ VTeX) TaW [XT_g[ VTeX ex_tgxw gb fbv\t_ VTeX+ N[X exybe` by g[x CgT_\Ta atg\bat_ [XT_g[ fxei\vx) j[\v[ fgtegxw \a.66/) \agebwhvxw Vb`cXg\g\ba T`baZ cebi\wxef j\g[ g[x gjbyb_w bu]xvg\ix by \avextf\az g[x dht_\gl by VTeX TaW VbagT\a\aZ g[x [XT_g[ VTeX XkcXaW\gheX+ 14

N[X exybe` jtf Y\aT_\mXW \a.666 j\g[ g[x WXY\a\g\ba by T Ybhe*fgXc cebvxff by TVVeXW\gTg\ba+ N[\f cebvxwhex) T_fb VT XW g[x pybhe ;q flfgx`) \f bezta\mxw Tf Yb bjf7 " Thg[be\mTg\ba gb Uh\_W g[x [bfc\gt_ YTV\_\gl " Thg[be\mTg\ba gb VTeel bhg g[x [XT_g[ VTeX TVg\i\gl " \afg\ghg\bat_ TVVeXW\gTg\ba " VbageTVghT_ TZeXX`Xagf Q[\_X g[x Y\efg gjb fgxcf ex_tgx Ybe g[x `bfg cteg gb gxv[a\vt_ TfcXVgf) g[x bg[xe gjb exy_xvg dh\gx V_bfX_l g[x [XT_g[ cb_\vl TccebTV[ by XTV[ exz\ba TaW) g[xexybex) exdh\ex gb UX Vb``XagXW ba+ N[X \afg\ghg\bat_ TVVeXW\gTg\ba \f g[x fgtzx g[tg T bjf g[x cebi\wxe gb jbe^ Ybe g[x CgT_\Ta atg\bat_ [XT_g[ fxei\vx) TaW \g \f ba_l ZeTagXW j\g[ g[x ce\be Thg[be\mTg\ba by g[x exz\ba) Vbaf\fgXag_l j\g[ g[x \agxeat_ [bfc\gt_ fhcc_l c_taa\az+ 8QO]ZM *(2 ;MIT\P IKKW]V\[ QV <\ITa #*().$ *-! JhU_\V [XT_g[ XkcXaW\gheX /-! Je\iTgX [XT_g[ XkcXaW\gheX 7INK>@' 0LM<M! DHLJDK<MD<! $"#& ;VVbeW\aZ gb WTgT Yeb` CfgTg &CgT_lof atg\bat_ \afg\ghgx by fgtg\fg\vf') n.16 U\ \ba &OM".40Ua' jtf fcxag ba [XT_g[VTeX \a CgT_l \a /-.3) /2# by j[\v[ jtf \a g[x ce\itgx fxvgbe) Tf fxxa \a @\ZheX /-+ Je\iTgX [bfc\gt_f \a CgT_l bygxa bcxetgx T_fb \a TZeXX`Xag j\g[ g[x CgT_\Ta atg\bat_ [XT_g[ fxei\vx+ Q[Xa g[xl Wb) g[xl TeX \a g[x VTgXZbel VT XW pce\itgb VbaiXam\baTgbq &ce\itgx j\g[ TZeXX`Xag'+ N[\f `XTaf g[xl VTa T_fb UX TVVXffXW j\g[ g[x CgT_\Ta [XT_g[ \afhetavx VTeW &pgxffxet fta\gte\tq') hawxe VXegT\a VbaW\g\baf+ N[X Vbfg by [bfc\gt_\ftg\ba \a T ce\itgx V_\a\V VTa UX XkgeX`X_l [\Z[) X+Z+ Yeb` n2-- gb n0)--- cxe WTl Ybe [bfc\gt_ TVVb``bWTg\ba &\av_hw\az `XT_f TaW `XW\V\aXf') c_hf g[x Vbfgf by `XW\VT_ gextg`xag) X+Z+ bixe n2)--- Ybe `T]be fhezxel+ =bfgf Ybe ce\itgx bcxetg\baf itel Xabe`bhf_l TVVbeW\aZ gb g[x exchgtg\ba by g[x fcxv\t_\fgf \aib_ixw TaW g[x YXXf g[xl Vb``TaW+ 15

@b bj\az g[x WXiX_bc`Xag by CgT_lof JJJ `Te^Xg \a g[x /---f) \gf [XT_g[VTeX \awhfgel \f Vb`YbegTU_l \a g[x fxvbawtel `Te^Xg fgtzx) `T^\aZ \g bax by g[x `bfg TVg\iX by g[x aba* VbeX fxvgbef \a g[x?o+ IaX by CgT_lof _TeZXfg WXT_f Ul getaftvg\ba ib_h`xf \a exvxag lxtef jtf g[x K/ /-.3 13+4# fgt^x TVdh\f\g\ba by EIM) Ta CgT_\Ta [XT_g[VTeX cebi\wxe g[tg \av_hwxf X_WXe_l VTeX \a \gf ex`\g) Ul \awhfge\t_ Zebhc =CL TaW \ayetfgehvghex \aixfgbe @/\ Yeb` ;ew\ta Ybe OM"033 `\ \ba &n0-1`'+ N[XfX fgt^xf jxex _TgXe TW]hfgXW \a T Yheg[Xe getaftvg\ba gb exfh_g \a =CL bja\az T 26+2# fgt^x TaW @/\ bja\az 1-+2# by EIM+?dh\g\k) T FbaWba*UTfXW \ayetfgehvghex \aixfg`xag Y\e`) \f g[x fxvgbeof `bfg YeXdhXag \aixfgbe \a [bfc\gt_f TVebff g[x?o) \av_hw\az Ybhe WXT_f V_bfXW \a CgT_l bixe g[x _Tfg g[exx lxtef+?te_\xe \a g[tg lxte)?dh\g\k TVdh\eXW Ta 52# \agxexfg \a ATeUTZaTgX MT_hgX) VbaVXff\baT\eX by ATeUTZaTgX Bbfc\gT_ &;m\xawt IfcXWT_\XeT MT_i\a\ ATeUTZaTgX' \a CgT_l) Yeb` Ta CgT_\Ta VbafgehVg\ba Vb`cTal) JXff\aT =bfgehm\ba\+ Ca @XUehTel /-.4)?dh\g\k T_fb UXVT`X `T]be\gl fgt^x[b_wxe \a g[x OFMM ;_gb P\VXag\ab Bbfc\gT_ \a CgT_l+ N[X [XT_g[ cbegyb_\b by?dh\g\k \av_hwxf fxixet_ bg[xe [bfc\gt_f) f\ghtgxw `T\a_l \a g[x OE) Tf jx Tf g[x ;fb_b TaW =b`b [bfc\gt_f) TVdh\eXW \a Dh_l TaW DhaX /-.2 exfcxvg\ix_l+ Ca ;hzhfg /-.4)?dh\g\k UbhZ[g Ta 52# \agxexfg \a HbiTeT MT_hgX X MXei\m\ T_fb Yeb` JXff\aT =bfgehm\ba\ j[\v[ exgt\axw g[x ex`t\a\az.2#+ HbiTeT MT_hgX X MXei\m\ \f g[x VbaVXff\baT\eX by g[x Ybe`Xe cflv[\tge\v [bfc\gt_ ;MF HbiTeT) YhaWXW j\g[ fxa\be WXUg cebi\wxw Ul O<C <TaVT j\g[ T /4*lXTe VbaVXff\ba+ N[X ceb]xvg VbaVXeaf g[x exabitg\ba by g[x Ybe`Xe fgehvghex TaW g[x VeXTg\ba by Ta \agxzetgxw [XT_g[ VXageX Ybe g[x chu_\v+ @]\TWWS ;W`\ggXW_l) CgT_lof cbch_tg\ba \f f[e\a^\az f_\z[g_l) WhX gb _bj U\eg[ etgxf T_baZ j\g[ Ta TZ\aZ cbch_tg\ba TaW `bwxetgx _XiX_f by \``\ZeTg\ba) TVVbeW\aZ gb WTgT Vb XVgXW Ul?hebfgTg W\fc_TlXW \a @\ZheX /. 16

8QO]ZM *)2 <UUQOZI\QWV Ja KW]V\Za #*((/ b *().$./ Hh`UXe by cxbc_x &cxe g[bhftaw'.- 5 3 1 / - /--4 /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3 McT\a CgT_l Oa\gXW E\aZWb` 7INK>@',NKILM<M! DHLJDK<MD<! $"#& I_WXe cbch_tg\baf gxaw gb exdh\ex `bex TVVXff gb [XT_g[VTeX) fb exixahx fgext`f \a g[x ce\itgx fxvgbe TeX _\^X_l gb ex`t\a fgtu_x Tf g[x chu_\v [XT_g[VTeX flfgx` fgehzz_xf gb ^XXc hc j\g[ \avextf\az WX`TaW+ 8QO]ZM **2 AMZKMV\IOM WN 7F IVL <\ITa XWX]TI\QWV IOML.(% # cbch_tg\ba TZXW 32( 0- /6 /5 /4 /3 /2 /1 /0 // /. /- /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3 /-.4?O CgT_l F\aXTe &CgT_l' 7INK>@',NKILM<M! DHLJDK<MD<! $"#& Q[\_X g[x VXageT_ ZbiXea`Xag fhcxei\fxf TaW \f h_g\`tgx_l exfcbaf\u_x Ybe g[x chu_\v [XT_g[VTeX flfgx`) fxei\vxf TeX cebi\wxw Tg T exz\bat XiX_) TaW Tf fhv[ WX_\iXel VTa itel TVebff g[x Vbhagel WXfc\gX XdhT_ TVVXff gb g[x [XT_g[VTeX UTf^Xg &F?;'+ 2-

Ca TeXTf j\g[ _bjxe _XiX_f by cebi\f\ba TaW _baz jt\g\az g\`xf) g[x WX`TaW Ybe ce\itgx fxvgbe YTV\_\g\Xf Vbh_W UX [\Z[Xe+ CgT_lof TWiTaVXW [XT_g[VTeX fxei\vxf `Tl exfh_g \a T [\Z[ ah`uxe by \aw\i\wht_f j\g[ fbc[\fg\vtgxw) V[eba\V [XT_g[VTeX exdh\ex`xagf exfh_g\az Yeb` T\_`Xagf j[\v[ jbh_w [TiX cexi\bhf_l UXXa YTgT_+ N[X ah`uxe by getaftvg\baf \a CgT_\Ta VTeX fxei\vxf \a exvxag lxtef [Tf UXXa ixel _\`\gxw) j\g[ ab `T]be getaftvg\baf chu_\v_l TiT\_TU_X be bvvhee\az \a g[x _Tfg g[exx lxtef \a X\g[Xe X_WXe_l VTeX be V[\_WVTeX) TVVbeW\aZ gb DHLJDK<MD<RL WTgT+ N[X `Te^Xg \f XkVXcg\baT l YeTZ`XagXW TaW ZXaXeT l Ubg[ fxvgbef TeX Wb`\aTgXW Ul f`t Xe) getw\g\bat_ c_tlxef) TcTeg Yeb` g[exx `T]be ce\itgx cebi\wxef by X_WXe_l VTeX+ N[XfX TeX Ebe\Ta) IecXT TaW ;aa\ ;mmhee\ j[\v[ \f bjaxw Ul Ebf Aebhc+ JTeg\T l ex_xitag gb g[\f fxvgbe \f g[x Ebf fgt^x TVdh\f\g\ba Ul @/\ TaW =CL) f\avx Ebf T_fb bjaf T ah`uxe by f`t Xe ahef\az [b`xf T_baZf\WX \gf bg[xe [XT_g[VTeX TffXgf TaW ;aa\ ;mmhee\+ BbjXiXe) g[x Zebhcof ZXaXeT_ YbVhf \f `bex ba [XT_g[VTeX cebi\f\ba g[ta X_WXe_l VTeX+ IecXT ba g[x bg[xe [TaW) bcxetgxf Tg g[x gbc by g[x X_WXe_l VTeX `Te^Xg) j\g[ YXjXe TffXgf g[ta Ebe\Ta TaW Ebf) Uhg \gf YTV\_\g\Xf TeX T\`XW Tg g[x XkgeX`X_l jxt_g[l+ 8QO]ZM *+2 5IZM PWUM[ WN \PZMM UIRWZ XZW^QLMZ[ QV <\ITQIV ZMOQWV[ #*()0$ Hh`UXe by VTeX [b`xf 1-02 0- /2 /-.2.- 2-7INK>@' 1IKD<H! 1IL! 4KJ@<! DHLJDK<MD<! $"#& IecXT Ebe\Ta EIM N[X exz\bat_ fc_\g \f ixel TccTeXag j[xa jx Vbaf\WXe g[x cbf\g\ba\az by TffXgf Ul g[xfx `T]be X_WXe_l VTeX cebi\wxe Zebhcf Tf fxxa \a @\ZheX /0) TaW \g `Tee\Xf hc j\g[ Y\ZheXf 2.

ex_xtfxw Ul CfgTg j[\v[ f[bj g[tg 31# by T X_WXe_l VTeX [b`xf TeX _bvtgxw \a g[x abeg[ by g[x Vbhagel+ N[X VbaVXageTg\ba by YTV\_\g\Xf \a g[x jxt_g[l abeg[xea exz\baf by Fb`UTeWl TaW J\XW`bag \f fgte^) Uhg abgtu_x XkVXcg\baf TeX fxg \a WXf\eTU_X _bvtg\baf TVebff g[x Vbhagel) fhv[ Tf ;ch_\t+ Ihgf\WX by _\`\gxw*tffxg Uhf\aXffXf) g[x \av_hf\ba by ahef\az fxei\vxf Tf Ta TfcXVg by VTeX Tg [XT_g[VTeX YTV\_\g\Xf \f T Vb``ba c[xab`xaba+ @be XkT`c_X fxixet_ \afg\ghg\baf byyxe X_WXe_l VTeX \a Vba]haVg\ba j\g[ bg[xe [XT_g[VTeX fxei\vxf fhv[ Tf ex[tu\_\gtg\ba be `XagT_ [XT_g[ V_\a\Vf) j[\_x fb`x ce\itgx fv[bb_f byyxe ^\awxeztegxa fxei\vxf \a VbaaXVg\ba j\g[ g[x\e cexfv[bb_ XWhVTg\baT_ YTV\_\g\Xf+ CgT_lof X_WXe_l cbch_tg\ba fg\ exvx\ixf T _TeZX T`bhag by YT`\_\T_ fhccbeg TaW `hv[ V[\_WVTeX \f cebi\wxw X\g[Xe j\g[\a g[x XkgXaWXW YT`\_l be Ul g[x _bvt_ VbhaV\_) j[\v[ [Tf \`cxwxw g[x Zebjg[ by Ybe`T_\fXW ce\itgx fxvgbe \aib_ix`xag gb T VXegT\a XkgXag+ N[hf) g[xex fxx`f gb [TiX UXXa _\gg_x `bix`xag VheeXag_l \a CgT_lof ahef\az fxei\vxf TffXg `Te^Xg+?_WXe_l VTeX \a CgT_l \f exzh_tgxw ba T exz\bat_ UTf\f j\g[ _bvt_ ite\tg\baf \a gxe`f by `\a\`h` Y_bbe fctvx) ce\v\az fgehvghex) _\`\gtg\baf ba `h_g\*bvvhctavl ebb`f TaW ftyxgl exzh_tg\baf) fb bcxetgbef `hfg \aixfg\ztgx g[x exdh\ex`xagf by XTV[ _bvt_ Thg[be\gl gb Uh\_W VTeX [b`xf+ ;f fhv[) U_Ta^Xg fgetgxz\xf TVebff g[x Vbhagel j\ UX W\YY\Vh_g gb \`c_x`xag+ M\`\_Te_l) g[x _bvt_ Thg[be\gl exzh_tgxf g[x VTeX by V[\_WeXa gb g[x TZX by 0+ CaiXfgbef axxw gb Vbaf\WXe g[x _bvt_ Thg[be\glof exzh_tg\baf gb `XTfheX g[x _\^X_\[bbW by fhvvxff \a T cteg\vh_te exz\ba+ ;f fhv[) CgT_l jbh_w UXaXY\g Yeb` T `bex fgext`_\axw exzh_tgbel flfgx` Ybe Ubg[ V[\_WVTeX TaW X_WXe_l VTeX gb XaVbheTZX Yheg[Xe G$; \a g[x fxvgbe+ @]\TWWS N[X f\ghtg\ba by VTeX [b`xf \a WXf\eTU_X _bvtg\baf T_baZ CgT_lof VbTfg_\aX `Tl jx UX T Zebj\aZ c[xab`xaba) Tf VTeX cebi\wxef bcxa YTV\_\g\Xf \a TggeTVg\iX) jx *VbaaXVgXW WXfg\aTg\baf+ N[\f `\eebef T f\`\_te `bwx_ by X_WXe_l VTeX cebi\f\ba \a g[x OE) j[xex YTV\_\g\Xf \a g[x fbhg[ by?az_taw T bj Ybe g[x X_WXe_l gb exf\wx \a g[x jte`xe ctegf by g[x Vbhagel j[\_x ex_tg\ixf Vb`X gb i\f\g T cbch_te WXfg\aTg\ba+ @\ZheX /1 T_fb W\fc_Tlf g[x exz\baf by CgT_l j\g[ g[x [\Z[Xfg cxevxagtzxf by X_WXe_l cbch_tg\ba) j[xex g[x WXiX_bc`Xag by Ta X_WXe_l VTeX `Te^Xg `Tl UX UXaXY\V\T_+ ; Yheg[Xe ZTc \a g[x `Te^Xg [XeX Vbh_W UX g[x bhgfbhev\az by ce\itgx X_WXe_l VTeX Yeb` g[x \agxeatg\bat_ `Te^Xg) j\g[ T fcxv\y\v YbVhf ba Hbeg[Xea?hebcX+ ;VVbeW\aZ gb CfgTg Y\ZheXf) ba_l 3# by T exf\wxag\t_ VTeX exv\c\xagf jxex YbeX\Za \a /-.2) TaW by g[tg ba_l 0# jxex X_WXe_l VTeX exv\c\xagf+ N[\f jbh_w UX cteg\vh_te_l TWiTagTZXbhf Ybe VTeX [b`xf _bvtgxw V_bfX gb \agxeatg\bat_ getafcbeg [huf fhv[ Tf T\ecbegf be [\Z[*fcXXW et\_jtlf+ 2/

8QO]ZM *,2 AMZKMV\IOM WN MTLMZTa XWX]TI\QWV Ja <\ITQIV ZMOQWV #*()/$ #X j\g[\a exz\ba 0- /2 /-.2.- 2-32*41 lxtef 42 TaW `bex 7INK>@' 0LM<M! DHLJDK<MD<!$"#& CgT_l [Tf fxxa T fgxtwl 3# \avextfx \a YX`T_X jbe^ybevx cteg\v\ctg\ba \a g[x Vbhagel \a ]hfg hawxe 0- lxtef) \av_hw\az T /# \avextfx Yeb` /--5 gb /-.4) TVVbeW\aZ gb Y\ZheXf Vb XVgXW Ul g[x Qbe_W <Ta^ \a /-.4 Tf fxxa \a @\ZheX /2+ N[\f \f bax by fxixet_ WX`bZeTc[\V TaW fbv\t_ gexawf) fhzzxfgf g[tg CgT_\Ta ahef\az fxei\vxf TeX Ta TeXT g[tg j\ axxw f\za\y\vtag \aixfg`xag \a g[x YhgheX+ 8QO]ZM *-2 8MUITM[ IOML )-% QV 7F IVL <\ITa TIJW]Z NWZKM #*((0 b *()/$ # YX`T_X cbch_tg\ba TZXf.2( 3-22 2-12 1-02 0- /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3 /-.4 7INK>@' ;IKF? )<HE! DHLJDK<MD<! $"#& McT\a?O OE CgT_l Hhef\aZ fxei\vxf Tf T j[b_x j\ Vbag\ahX gb Zebj Tf CgT_l XaVbheTZXf jb`xa \agb jbe^) T_g[bhZ[ g[\f `Tl abg UX Tf YTfg Tf \a bg[xe TeXTf by g[x?o fhv[ Tf McT\a j[\v[ ftj Ta 20

..# \avextfx \a \gf YX`T_X jbe^\az cbch_tg\ba Yeb`.66- gb /-.4+ McXV\Y\VT l) g[x XWhVTg\baT_ TaW fbv\t_ UXaXY\gf by WTl*VTeX Xai\eba`Xagf TeX T_fb UX\aZ UXggXe hawxefgbbw Ul ctexagf) [bjxixe) \Y YXeg\_\gl etgxf Vbag\ahX gb WXV_\aX) exixahx fgext`f `Tl fhyyxe+ CgT_l \f T `Te^Xg g[tg \f fxg gb V[TaZX f\avx) T_baZ j\g[ `bfg by g[x?o) \g [Tf WXV_\a\aZ YXeg\_\gl etgxf TaW Ta TZ\aZ cbch_tg\ba UhUU_X j[\v[ j\ exdh\ex `bex fhccbeg bixe g[x axkg.- lxtef+ Cg \f ha_\^x_l g[tg Wb`Xfg\V VTeX j\ UX TU_X gb fhfgt\a g[x e\fx \a g[x X_WXe_l cbch_tg\ba) fb g[x ce\itgx fxvgbe Vbh_W Y\ g[x ZTc+ 8QO]ZM *.2 =QNM M`XMK\IVKa I\ JQZ\P #*((( b *().$ ;ZX 51 50 5/ 5. 5-46 45 44 43 /--- /--. /--/ /--0 /--1 /--2 /--3 /--4 /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2 /-.3?O CgT_l McT\a OE 7INK>@' ;IKF? +@O@FIJG@HM 0H?D><MIKL! DHLJDK<MD<! $"#& N[X gbgt_ cbch_tg\ba by X_WXe_l \aw\i\wht_f \a VTeX \a CgT_l \a /-.2 jtf Tccebk\`TgX_l /55)---) TaW g[\f \f fxg gb e\fx+ N[X ft`x WTgT exixt_xw g[tg g[xex TeX ]hfg hawxe.-)--- X_WXe_l VTeX YTV\_\g\Xf gb fhccbeg g[\f cbch_tg\ba+ N[XeXYbeX) XTe_l cbf\g\ba\az j\ UX ^Xl \a CgT_lof X_WXe_l VTeX `Te^Xg Tf TffXgf TeX fg\ ixel `hv[ YeTZ`XagXW TaW g[x fxvgbe j\ UXaXY\g [hzx_l Yeb` Vbafb_\WTg\ba Tf g[x axxw Ybe VTeX fxei\vxf \avextfxf+ ; by g[x \aw\vtgbef cb\ag gb CgT_l [Ti\aZ UheZXba\aZ axxw Ybe T fhufgtag\t_ VTeX fxvgbe gb TVVbhag Ybe g[x e\fx \a X_WXe_l cbch_tg\ba) Uhg fb YTe) g[x \awhfgel [Tf abg extvgxw gb g[xfx \a T `T]be YTf[\ba+ GbegT_\gl etgxf TeX ZXaXeT l ba g[x e\fx TVebff?hebcX) TaW g[\f \f ab W\YYXeXag Ybe g[x CgT_\Ta cbch_tg\ba) j\g[ T [\Z[ cxevxagtzx by V\g\mXaf bixe 32 lxtef by TZX+ CgT_l \f T_fb T 21

cexwb`\atag_l =[e\fg\ta Vbhagel) j\g[ 3-+.# by g[x cbch_tg\ba WXfVe\U\aZ g[x`fx_ixf Tf =Tg[b_\V TVVbeW\aZ gb exfxtev[ VbaWhVgXW Ul =b``ha\gl GXW\T LXfXTeV[ TaW FT MgT`cT \a /-.4+ N[X axkg _TeZXfg ex_\z\bhf cbch_tg\ba \a g[x Vbhagel TeX Tg[X\fgf) T fc\e\ght_ fxz`xag `bex \av_\axw gb VeX`Tg\ba+ 8QO]ZM */2 CMOQWV[ Ja XWX]TI\QWV IVL V]UJMZ WN KZMUI\WZQI #*()0$ Hh`UXe by VeX`Tgbe\T.3.1./.- 5 3 1 / -./.- 5 3 1 / - LXZ\ba cbch_tg\ba &`\ \ba' Hh`UXe by VeX`Tgbe\T 7INK>@' -IKHI *K@G<MIKDI! DHLJDK<MD<! $"#& Jbch_Tg\ba by exz\ba =b`cte\az g[x ah`uxe by VeX`Tgbe\T \a XTV[ CgT_\Ta exz\ba j\g[ XTV[ exz\baof exfcxvg\ix cbch_tg\ba havbixef \agxexfg\az WTgT+ N[X Tffh`XW VbeeX_Tg\ba UXgjXXa cbch_tg\ba TaW ah`uxe by VeX`Tgbe\T jbh_w UX T cebcbeg\bat_ ex_tg\baf[\c+ BbjXiXe) Tf f[bja \a @\ZheX /4) g[xex TeX f\za\y\vtag W\fcTe\g\Xf UXgjXXa g[x gjb Y\ZheXf \a fxixet_ by CgT_lof exz\baf) \av_hw\az J\XW`bag) FTm\b) =T`cTa\T) M\V\_l) TaW ;ch_\t+ J\XW`bag [Tf g[x `bfg VeX`Tgbe\T bhg by Tal f\azh_te exz\ba \a CgT_l lxg \f ba_l g[x fxixag[ `bfg cbch_bhf exz\ba+ Ca YTVg) `bfg abeg[xea exz\baf [TiX T [\Z[Xe ah`uxe by VeX`Tgbe\T+ FTm\b) =T`cTa\T) M\V\_l TaW ;ch_\t) ba g[x bg[xe [TaW) `bfg _\^X_l _TV^ T f\za\y\vtag ah`uxe by VeX`Tgbe\T WhX gb _XZT_ TaW Vh_gheT_ extfbaf+ @]\TWWS CgT_lof YhaXeT_ fxei\vxf `Te^Xg byyxef [hzx bccbegha\g\xf Ybe Vbafb_\WTg\ba) \a cteg\vh_te \a g[x YhaXeT_ W\eXVgbe fxz`xag) Tf \g T_eXTWl [TccXaXW \a g[x OE+ M\aVX g[x CgT_\Ta VeX`Tgbe\T `Te^Xg \f VheeXag_l XkgeX`X_l hawxewxix_bcxw) \g `Tl exdh\ex Yheg[Xe ZeXXaY\X_W TVg\i\gl) T_baZ j\g[ g[x UhaW_\aZ by Xk\fg\aZ TffXgf gb UXVb`X T f\za\y\vtag 22

\aixfg`xag cebcbf\g\ba+ BbjXiXe) g[x etc\w Zebjg[ by VeX`Tg\ba etgx fhzzxfgf T ixel cbf\g\ix bhg_bb^ Ybe g[x fxvgbe+ M\aVX VeX`Tg\ba \f T_fb Ta \axkcxaf\ix Ybe` by XaW*bY*_\YX cebvxff) \g `Tl T_fb UX UXaXY\V\T_ gb c_tvx TffXgf \a exz\baf j\g[ `bwxetgx _XiX_f by jxt_g[+ Ca fbhg[xea CgT_l) j[xex VeX`Tg\ba etgx \f fg\ bj) g[x cbgxag\t_ Ybe XkcTaf\ba \f abgxjbeg[l+ ;WWXW gb g[\f g[x =Tg[b_\V =[hev[of fbygxa\az gbjtewf g[x hfx by VeX`Tg\ba) g[x YhgheX by VeX`Tgbe\T Tf Ta TffXg V_Tff \a CgT_l \f XaVbheTZ\aZ+ CgT_l [Tf fxxa ceb`\f\az exvxag \aixfg`xag \a \gf XWhVTg\baT_ \afg\ghg\baf+ Ca g[x Y\efg dhtegxe by /-.5) Ta \aixfg`xag \a Lb`Xof Fh\ff Oa\iXef\gl Yeb` g[x?hebcxta CaiXfg`Xag <Ta^ jtf TccebiXW+ N[X `T\a YbVhf by g[x \aixfg`xag TccXTef gb [TiX UXXa TWW\aZ it_hx gb g[xfx YTV\_\g\Xf+ N[X it_hx by g[x \aixfg`xag \f Tccebk\`TgX_l n.01 `\ \ba &OM".23`' TaW Vb`ce\fXf g[x exfgehvghe\az by g[x ha\ixef\glof axj Uhf\aXff fv[bb_ Uh\_W\aZ) g[x `bwxea\ftg\ba by g[exx FTj @TVh_gl Uh\_W\aZf) g[x Uh\_W\aZ by axj exf\wxavxf Ybe fghwxagf Ybe T VTcTV\gl by /0- fctvxf) TaW g[x exfgehvghe\az by g[x _\UeTel+ N[X \aixfg`xagf T_fb \av_hwx T [hu Ybe \aabitg\ba TaW fxei\vxf Tf jx Tf T _XTea\aZ VXageX \a G\_Ta WXW\VTgXW gb c_tvx`xag TVg\i\g\Xf \a Vb TUbeTg\ba j\g[ g[x CgT_\Ta G\a\fgel by?whvtg\ba) Oa\iXef\gl TaW LXfXTeV[ &GCOL' gb [X_c lbhaz cxbc_x XagXe g[x ]bu `Te^Xg+ N[X?hebcXTa CaiXfg`Xag <Ta^of ZbT_ \a g[\f ixaghex \f gb \agxeat_\fx TaW hczetwx g[x VbhefXf Tf jx Tf \`cebix g[x c_tvx`xag bccbegha\g\xf gb \avextfx g[x Oa\iXef\glof exchgtg\ba TaW eta^\az+ Ca TWW\g\ba gb chu_\v*fxvgbe \aixfg`xag \a ha\ixef\g\xf) g[xex [Tf UXXa ce\itgx*fxvgbe \aixfg`xag \a g[x fghwxag [bhf\az `Te^Xg j[\v[ fxx`f gb UX Zebj\aZ XkcbaXag\T l+ Ca g[x Y\efg dhtegxe by /-.5) B\aXf) \a ]b\ag ixaghex j\g[ <_hx HbU_X) T Z_bUT_ ext_ XfgTgX \aixfg`xag `TaTZX`Xag Y\e`) \aixfgxw \a T fghwxag [bhf\az WXiX_bc`Xag \a G\_Ta+ N[X 3--*UXW TVVb``bWTg\ba YTV\_\gl j\ UX axte G\_Taof <bvvba\ Oa\iXef\gl) TaW \f g[x Y\efg by B\aXfo fxe\xf by \aixfg`xagf \a fghwxag [bhf\az \a `T\a CgT_\Ta ha\ixef\gl V\g\Xf+ N[\f TffXg j\ UX `TaTZXW W\eXVg_l Ul B\aXf g[ebhz[ ;ctegb) g[x Vb`cTalof WXW\VTgXW fghwxag TVVb``bWTg\ba bcxetg\az c_tgybe`+ IiXe g[x axkg gjb lxtef) B\aXf T\`f gb \aixfg T gbgt_ by n2-- `\ \ba &OM"250`' \a g[x `T\a CgT_\Ta ha\ixef\gl V\g\Xf+ 23

8QO]ZM *02 DMKWVLIZa [KPWWT X]XQT[ QV XZQ^I\M ML]KI\QWV #*((- b *()-$ /2 # by gbgt_ fxvbawtel /-.2.- 2 - /--2 /--3 /--4 /--5 /--6 /-.- /-.. /-./ /-.0 /-.1 /-.2?O CgT_l F\aXTe &CgT_l' 7INK>@' ;IKF? )<HE! DHLJDK<MD<! $"#& ;f fxxa \a @\ZheX /5) g[x cteg\v\ctg\ba \a CgT_\Ta ce\itgx fv[bb_f Vbag\ahXf gb \avextfx) Uhg \g `Tl UX by \agxexfg gb \aixfgbef g[tg Xaeb_`Xag \avextfxw Whe\aZ g[x /--5 Y\aTaV\T_ Ve\f\f) cxe[tcf fhzzxfg\az g[tg ce\itgx XWhVTg\ba \a CgT_l fcxv\y\vt l `Tl TVg Tf T exvxff\ba*cebby TffXg Ybe T cbegyb_\b \a g\`xf by Z_bUT_ XVbab`\V \afgtu\_\gl+ BbjXiXe) CgT_l [Tf abg fxxa g[x ft`x \ay_hk by ce\itgx fv[bb_ TggXaWTaVX Tg fxvbawtel XWhVTg\ba _XiX_ Tf bg[xe Vbhage\Xf TVebff g[x?hebcxta Oa\ba [TiX \a g[x cxe\bw f\avx /-..+ N[\f `Tl UX WhX gb T cxevxcg\ba g[tg ce\itgx fv[bb_f byyxe _\gg_x TWW\g\baT_ XWhVTg\ba UXaXY\g bixe chu_\v XWhVTg\ba+ Q[\_X g[x etg\b by chc\_f gb fv[bb_ \f _bjxe ba TiXeTZX \a ce\itgx fv[bb_f &Tccebk\`TgX_l 4. chc\_f \a T ce\itgx fv[bb_ TZT\afg.25 \a T chu_\v fv[bb_) TVVbeW\aZ gb CfgTg Y\ZheXf Yeb` /-.1 TaW /-.2') g[\f `Tl abg T_jTlf getaf_tgx TVebff gb T _bjxe gxtv[xe gb chc\_ etg\b+ BbjXiXe \agxeatg\bat_ fv[bb_f \a CgT_l) j[\v[ gxaw gb Vb``TaW `hv[ [\Z[Xe YXXf g[ta CgT_\Ta ce\itgx fv[bb_) [TiX `bex YeXXWb` Yeb` g[x atg\bat_ Vhee\Vh_h` j[\v[ `Tl \`cxwx \aabitg\ba \a CgT_\Ta ce\itgx fv[bb_f+ N[X cbf\g\ba\az by ce\itgx fv[bb_f \a CgT_l Tf fxxa \a @\ZheX /6 exixt_f T _\a^ UXgjXXa getw\g\bat l jxt_g[l exz\baf fhv[ Tf Fb`UTeWl TaW PXaXgb) Tf jx Tf Uhfl) \awhfge\t_) heuta TeXTf fhv[ Tf Lb`X) JT_Xe`b TaW HTc_Xf+ Cg `Tl UX g[tg TeXTf j\g[ Ta XfgTU_\f[XW `\WW_X*V_Tff jbh_w fhccbeg Yheg[Xe WXiX_bc`Xag by g[x exz\baf ce\itgx fv[bb_f) T_baZ j\g[ TeXTf by f\za\y\vtag jxt_g[+ 24

8QO]ZM *12 AZQ^I\M [KPWWT[ QV <\ITQIV ZMOQWV[ ^[' XWX]TI\QWV LMV[Q\a #*()0$ Hh`UXe by ce\itgx fv[bb_f 0--- /2-- /---.2--.--- 2-- - Fb`UTeWl =T`cTa\T PXaXgb FTm\b M\V\_l?`\_\T*Lb`TZaT J\XW`bag ;ch_\t NhfVTal =T_TUe\T F\Zhe\T MTeW\a\T @e\h_\*pxaxm\t A\h_\T ;Uehmmb NeXag\ab*;_gb ;W\ZX GTeV[X O`Ue\T <Tf\_\VTgT Gb_\fX ;bfgt PT Xl./.- 5 3 1 / - Jbch_Tg\ba WXaf\gl &`\ \ba' Hh`UXe by ce\itgx fv[bb_f &/-.1*.2' Jbch_Tg\ba WXaf\gl &`\ \ba'?kcba+ &Jbch_Tg\ba WXaf\gl &`\ \ba'' 7INK>@' 2096! 0LMDMNMI 3<QDIH<F@?D 7M<MDLMD>< 0M<FD<! DHLJDK<MD<! $"#& N[X Y\aTaV\T_ getaftvg\baf by T ft_x TaW _XTfXUTV^ ite\xgl Vbh_W ixel jx UXZ\a gb UX hfxw \a g[x CgT_\Ta XWhVTg\baT_ fxvgbe) \a g[x ft`x jtl \g \f UX\aZ hfxw gb YeXX hc _\dh\w\gl Ybe [bfc\gt_f+ Je\iTgX XWhVTg\baT_ \afg\ghg\baf \a CgT_l [b_w fxixet_ [\Z[ it_hxw TffXgf+ MX \az g[xfx TffXgf gb _TeZX \afg\ghg\bat_ \aixfgbef TaW ext_ XfgTgX \aixfg`xag YhaWf) j[\_x VbbeW\aTg\aZ T WXT_ gb _XTfX g[x TffXgf) jbh_w Z\iX fv[bb_f TaW ha\ixef\g\xf g[x V[TaVX gb chefx `bex VTc\gT_*\agXaf\iX ixaghexf+ N[\f VTc\gT_ jbh_w Zb gbjtewf [\e\az `bex gxtv[xef) XkcTaW\aZ YTV\_\g\Xf) be exfgehvghe\az VXegT\a VbhefXf+ Cafg\ghg\baT_ \aixfgbef fxx^\az T VbafgTag TaW cexw\vgtu_x fbhevx by \avb`x jbh_w T_fb UXaXY\g Yeb` g[\f glcx by Y\aTaV\T_ getaftvg\ba+ @]\TWWS IaX by g[x `bfg \agxexfg\az TeXTf Ybe ZeXXaY\X_W \aixfg`xag Vbh_W UX excexfxagxw Ul UbTeW\aZ fv[bb_f g[tg byyxe XWhVTg\baT_ fxei\vxf \a?az_\f[) T_baZf\WX CgT_\Ta+ N[Xl Vbh_W VTgXe gb XkcTg cbch_tg\ba _\i\az \a CgT_l) gb g[x jxt_g[\xe TaW `bex \agxeatg\bat l* be\xagxw fxz`xagxw by g[x Wb`Xfg\V cbch_tg\ba) Uhg T_fb gb bixefxtf chc\_f+ 25

CgT_l \f T_eXTWl bax by g[x `bfg cbch_te WXfg\aTg\baf Ybe hawxezetwhtgx XkV[TaZX cebzet`f8 \agxeatg\bat_ fv[bb_f \a g[x Vbhagel Vbh_W _XiXeTZX g[x Vbhagelof ha\dhx Vh_gheT_) Teg\fg\V TaW [\fgbe\vt_ [Xe\gTZX gb gtezxg \agxeatg\bat_ Tcc_\VTagf) Vb`U\a\aZ ce\`tel TaW fxvbawtel XWhVTg\ba gb byyxe T E./ flfgx`) g[xexybex Xafhe\aZ T fgxtwl exixahx Y_bj Ybe./ lxtef+ QX *exabjaxw Vh_gheT_ [bgfcbgf fhv[ Tf @_bexavx) PXa\VX TaW Lb`X Vbh_W UX ce\`tel _bvtg\baf Ybe g[x XfgTU_\f[`Xag by axj UbTeW\aZ fv[bb_f+ ;f Ybe bg[xe TffXg V_TffXf XkT`\aXW \a g[\f excbeg) Vbafb_\WTg\ba bccbegha\g\xf TeX f\za\y\vtag+ G$; TVg\i\gl TccXTef gb UX fgxcc\az hc \a g[x CgT_\Ta WTgT VXageXf `Te^Xg) Tf f[bja Ul g[x TVdh\f\g\ba by 61+./# by g[x Y\UeX*bcg\V TaW WTgT VXageX WXiX_bcXe CaYeTVb` Ul @/\ TaW GTeZhXe\gX Yeb` ;UXeg\f \a DhaX /-.4) it_hxw Tg OM"31+4 `\ \ba &n24+5`'+ N[X ]b\ag TVdh\f\g\ba by CaYeTVb` jtf Vb`c_XgXW g[ebhz[ T Vb``ba VbecbeTgX ix[\v_x) 5-# bjaxw Ul @/\ MXVbaW @haw TaW /-# Ul GTeZhXe\gX+ MhV[ T `bix jtf Yb bjxw Ul g[x TVdh\f\g\baf) TZT\a Ul @/\ TaW GTeZhXe\gX) by 56+5.# by Lb`X*UTfXW Y\UeX*bcg\V cebi\wxe G=*_\a^ \a ;hzhfg /-.4 TaW by 6-# by EJHKjXfg \a MXcgX`UXe /-.4+ N[\f ehf[ by TVg\i\gl \f fxg gb _XTW) \a Dh_l /-.5) gb g[x `XeZXe by CaYeTVb`) EHJKjXfg CgT_\T) G=*_\a^ TaW <\ZN_V \agb T axj Vb`cTal VT XW Ce\WXbf) j[\v[ T\`f gb UXVb`X bax by CgT_lof `T\a cebi\wxef by C=N fxei\vxf Ybe Uhf\aXff+ Ce\WXbf \f _\^X_l gb XkcTaW g[bhz[ g[x TVdh\f\g\baf by bg[xe `XW\h` f\mxw C=N c_tlxef) [XaVX Vb`cXg\aZ j\g[ XfgTU_\f[XW c_tlxef _\^X NX_XVb` TaW @TfgjXU+ ;VVbeW\aZ gb T Vb`cTal fgtgx`xag) Ce\WXbfo checbfx \f gb fhccbeg Vb`cTa\Xf g[ebhz[ fb_hg\baf Vbaf\fg\aZ by WTgT VXageXf) V_bhWf) Y\UeX bcg\vf) TaW fxvhe\gl+ Ce\WXbfo gxv[ab_bz\vt_ c_tgybe` VheeXag_l Vbaf\fgf by gxa WTgT VXageXf \a g[x V\g\Xf by G\_Ta) Lb`X) NeXagb TaW PXebaT) Tf jx Tf T.2)---^` _baz Y\UeX bcg\v VTU_X g[tg ehaf T_baZ g[x `T\a CgT_\Ta [\Z[jTlf+ N[XfX WTgT VXageXf TeX T VbaaXVgXW gb g[x _TeZX [hu by i\t =T_WXeT) \a G\_Ta+ ;ehut [Tf T_fb ex`t\axw T f\za\y\vtag c_tlxe \a CgT_l+ @bhawxw \a CgT_l \a.661) ;ehut bcxetgxf jxu [bfg\az TaW Wb`T\a exz\fgetg\ba fxei\vxf) Tf jx Tf WTgT VXageXf+ ;ehutof A_bUT_ =_bhw >TgT =XageX &CN0' \f _bvtgxw \a JbagX MTa J\Xgeb) <XeZT`b TaW \f CgT_lof _TeZXfg Vb``XeV\T_ WTgT VXageX+ N[X bg[xe ;ehut WTgT VXageXf TeX _bvtgxw \a ;exmmb) NhfVTal) TaW Eg\t) \a g[x =mxv[ LXchU_\V+ 26

8QO]ZM +(2?]UJMZ WN LI\I KMV\ZM[ QV [MTMK\ML 7]ZWXMIV KW]V\ZQM[ #*()0$ Hh`UXe by WTgT VXageXf 2-- 12-1-- 02-0-- /2- /--.2-.-- 2- - 7INK>@' *FIN?L>@H@! DHLJDK<MD<! $"#& CgT_lof WTgT VXageXf `Te^Xg TccXTef gb UX f\za\y\vtag_l hawxewxix_bcxw Vb`cTeXW gb bg[xe `T]be?O Vbhage\Xf+ ;VVbeW\aZ gb VbaaXVg\i\gl W\eXVgbel =_bhwfvxax) g[xex TeX 10- WTgT VXageXf \a AXe`Tal) 1/1 WTgT VXageXf \a g[x OE) /40 \a @etavx) /14 \a g[x HXg[Xe_TaWf TaW ba_l../ \a CgT_l+ CgT_l [Tf T f\`\_te ah`uxe by WTgT VXageXf gb Lhff\T &.-5') McT\a &.-/') Mj\gmXe_TaW &63' TaW MjXWXa &6-') Vbhage\Xf g[tg [TiX T _bjxe A>J g[ta CgT_l+ >TgT VXageXf TeX cteg\vh_te_l VbaVXageTgXW \a g[x exz\ba by G\_Ta) CgT_lof Uhf\aXff VTc\gT_) j[\v[ [Tf g[x cbgxag\t_ gb Vb`cXgX j\g[?hebcxof `T\a WTgT [huf) fhv[ Tf FbaWba) ;`fgxewt` TaW @eta^yheg+ BbjXiXe) g[xex \f fg\ T _TV^ by WTgT VXageXf \a g[x \awhfge\t_ [XTeg_TaWf by abeg[*xtfg TaW abeg[*jxfg) j[xex T f\za\y\vtag ah`uxe by f`t TaW `XW\h` XagXece\fXf &MG?' TeX UTfXW+ Ca g[x VXageT_ TaW fbhg[xea exz\baf) g[x _TV^ by WTgT VXageXf \f cteg\vh_te_l f\za\y\vtag+ BbjXiXe) g[x WTgT VXageX axxwf by g[xfx exz\baf f[bh_w abg UX hawxexfg\`tgxw) f\avx WTgT VXageXf j\ UX axxwxw \a TaW TebhaW Lb`X) gb ftg\fyl g[x \avextf\az WX`TaW by ZbiXea`Xag Uh\_W\aZf+ >TgT VXageXf WXiX_bcXW \a g[x VXageT_ TaW fbhg[xea exz\baf j\ T_fb UXaXY\g Yeb` g[x cebk\`\gl gb j\aw TaW fb_te c[bgbib_gt\v TffXgf+ ;f NTU_X 5 f[bjf) fbhg[xea CgT_l cebwhvxf //# by g[x Vbhagelof A>J) [bfgf T f\za\y\vtag f[tex by g[x Vbhagelof JP &04+1#' TaW XiXa `bex j\aw &63#' \afgt XW VTcTV\gl) TaW `XeX_l 1+3# by \gf WTgT VXageXf+ 3-

8QO]ZM +)2 6I\I KMV\ZM KW]V\ Ja ZMOQWV #*()0$ @e\h_\*pxaxm\t A\h_\T ;ch_\t GTeV[X M\V\_l MTeW\a\T?`\_\T*Lb`TZaT =T`cTa\T F\Zhe\T NhfVTal PXaXgb J\XW`bag FTm\b Fb`UTeWl -.- /- 0-1- 2-3- Hh`UXe by WTgT VXageXf 7INK>@' *FIN?L>@H@! DHLJDK<MD<! $"#& CgT_l VheeXag_l eta^f /2 g[ bhg by /5 `X`UXe fgtgxf \a g[x?oof >\Z\gT_?Vbab`l TaW MbV\Xgl CaWXk /-.5 TaW [Tf fb`x by g[x jxt^xfg cxeybe`\az Y\kXW UebTWUTaW \a g[x exz\ba+ BbjXiXe) g[x Vbhagel \f fv[xwh_xw gb [TiX ThVg\baXW byy \gf 2A YeXdhXaV\Xf Ul g[x XaW by MXcgX`UXe /-.5) j[\v[ j\ f\za\y\vtag_l \avextfx g[x CgT_lof WTgT getyy\v j[xa \g UXVb`Xf chu_\v_l TiT\_TU_X+ N[\f \avextfxf Yheg[Xe g[x axxw Ybe `bex WTgT VXageXf TebhaW g[x Vbhagel) bg[xej\fx g[x \awhfgel `Tl UX hatu_x gb fhfgt\a g[xfx h_get*ytfg \agxeaxg VbaaXVg\baf gb Uhf\aXffXf TaW [b`xf+ EIJTM 0' 6I\I KMV\ZM KIXIJQTQ\a QV \PM DW]\P WN <\ITa #*()/$ <\ITa DW]\PMZV <\ITa #! WN \W\IT$ MheYTVX TeXT &^`/' 0-.)005./0)-/1 &1-#' Jbch_Tg\ba &`' 3-)3/5 /-)5./ &01#' A>J &/-.3 n`'.)34/)105 046)-44 &//#' Iaf[beX j\aw) \afgt XW VTcTV\gl &/-.2' 6).1-+3GQ 5)53.GQ &63#' Mb_Te JP) \afgt XW VTcTV\gl &/-.3'.6)/50+/GQ 4)//.+3GQ &04+1#' >TgT VXageXf.-4 2 &1+3#' 7INK>@' 7ODG@Q $"#%! *FIN?L>@H@! DHLJDK<MD<! $"#& 3.

@]\TWWS A\iXa g[x YTVg g[tg g[x CgT_\Ta WTgT VXageXf `Te^Xg \f fg\ ex`te^tu_l hawxewxix_bcxw Vb`cTeXW gb bg[xe?o Vbhage\Xf by f\`\_te f\mx) \g \f gb UX XkcXVgXW T f\za\y\vtag XkcTaf\ba) ce\`te\_l \a gxe`f by VbafgehVg\ba by axj TffXgf) \a g[x lxtef gb Vb`X+ MhV[ T axxw j\ UX \agxaf\y\xw Ul g[x hcvb`\az j\wxfcextw TWbcg\ba by 2A UebTWUTaW) j[\v[ j\ \a ghea ctix g[x jtl Ybe fx_y*we\i\az ix[\v_xf g[tg TeX fxg gb XkcbaXag\T l \avextfx g[x T`bhag by WTgT ZXaXeTgXW+ N[X XkcTaf\ba by U_bV^V[T\a `\a\az Vbh_W Yheg[Xe XkcTaW g[x WX`TaW by WTgT VXageXf) Ybe XkT`c_X \a TeXTf V_bfX gb MTa GTe\ab) j[\v[ T\`f gb UXVb`X T U_bV^V[T\a [hu+ AeXXaY\X_W bccbegha\g\xf TeX _\^X_l gb UX TUhaWTag abg ba_l \a G\_Ta) j[\v[ \f T_eXTWl abg ba_l g[x Vbhagelof Uhf\aXff VTc\gT_ Uhg T_fb \gf `bfg WXiX_bcXW CagXeaXg TaW WTgT VXageX [hu) Uhg T_fb \a FTm\b) WhX gb g[x cebk\`\gl j\g[ Lb`Xof ZbiXea`Xag Uh\_W\aZf+ N[X VbafgehVg\ba by WTgT VXageXf j\ T_fb UX XffXag\T_ \a g[x Vbhagelof ah`xebhf \awhfge\t_ W\fge\Vgf TaW `TahYTVgheX [XTeg_TaWf) \a bewxe gb `XXg g[x Vb_bVTg\ba axxwf by f`t TaW `XW\h` XagXece\fXf &MG?' g[tg Vbafg\ghgX g[x UTV^UbaX by g[x CgT_\Ta XVbab`l+ Q[Tg \f `bex) fbhg[xea exz\baf Vbh_W fxvhex T `XTa\aZYh_ `Te^Xg f[tex) byyxe\az WTgT VXageXf g[x V_bfXaXff gb exaxjtu_x XaXeZl TffXgf+ ;f Ybe bg[xe aba*vbex \ayetfgehvghex TffXgf) CgT_lof WTgT VXageXf `Te^Xg \f XkgeX`X_l YeTZ`XagXW+ ; Vbafb_\WTg\ba cebvxff \f VheeXag_l bazb\az) j\g[ Ce\WXbf) Vbageb XW Ul @/\ TaW GTeZhXe\gX) fxg gb UXVb`X T ce\`tel c_tlxe+ MhV[ Ta XkT`c_X Vbh_W UX cbgxag\t l Yb bjxw Ul bg[xe \agxeatg\bat_ c_tlxef+ IiXeT ) Ubg[ CgT_lof ce\`tel TaW fxvbawtel WTgT VXageXf `Te^Xg _bb^ ixel ceb`\f\az Ybe g[x _baz*gxe` fgetgxz\xf by \ayetfgehvghex YhaWf+ FXZ\f_Tg\ba \f bax by g[x `T\a We\iXef Ybe g[x VTe cte^ \awhfgel+ N[X Y\efg _Tj &423,.634') TccebiXW \a.634) WXY\aXW g[x `\a\`h` \ayetfgehvghet_ fgtawtewf Ybe g[x VbafgehVg\ba by VTe cte^f) T_baZ j\g[ _bz\fg\vt_ eh_xf Ybe WXiX_bcXef gb Yb bj exztew\az g[x bixet Y_bbe fctvx by g[x fgehvghex+ Ca.656) g[x.//,.656 _Tj WXi\fXW \avxag\ixf Ybe ce\itgx \aixfgbef gb \aixfg \a chu_\v cte^\az VbafgehVg\ba TaW `TaTZX`Xag+ N[X \avxag\ixf Vbaf\fgXW by VbaVXff\baf gb Uh\_W TaW bcxetgx) _TaW e\z[gf Ybe T fcxv\y\xw g\`x hc gb 66 lxtef) cbff\u\_\gl gb exfx hc gb 0-# by g[x gbgt_ T`bhag by fgehvghexf Uh\_g gb ce\itgx UbW\Xf TaW chu_\v Y\aTaV\T_ Vbage\Uhg\baf ba T _baz*gxe` UTf\f &.2*lXTe gxe`'+ FXZ\f_Tg\ba \agebwhvxw \a.661 f\za\y\vtag_l \avextfxw g[x ah`uxe by JJJf \a g[x fxvgbe Ul `T^\aZ ceb]xvg Y\aTaV\aZ TiT\_TU_X+ N[X bcg\ba by ceb]xvg Y\aTaV\aZ) abg fhu]xvg gb VbafgeT\agf WXY\aXW Ul _bvt_ Thg[be\g\Xf) VThfXW `bex c_tlxef gb XagXe g[x `Te^Xg) 3/

_XTW\aZ gb Ta \avextfx \a g[x ah`uxe by axj VTe cte^f UX\aZ VbafgehVgXW Yeb`.. \a /--- gb..0 \a /--1+ BbjXiXe) CgT_lof VTe cte^ fxvgbe [Tf UXXa etg[xe f_bj Vb`cTeXW gb bg[xe?o `Te^Xgf+ ;VVbeW\aZ gb DHLJDK<MD<of WTgT) g[xex [TiX abg UXXa Tal abgtu_x VTe cte^ TVdh\f\g\baf be Y\aTaV\aZf \a CgT_l exvxag_l+ ;f fhv[) g[xex \f f\za\y\vtag Uhf\aXff bccbegha\gl exztew\az g[x YhgheX `Te^Xg _TaWfVTcX by VTe cte^f+ ;f `Xgebcb_\gTa TeXTf TaW V\g\Xf TeX UXVb`\aZ \avextf\az_l cbch_tgxw) g[x WX`TaW Ybe VTe cte^f \f fxg gb e\fx+ ;VVbeW\aZ gb T excbeg ex_xtfxw \a ;ce\_ /-.4 Ul ;ffbv\tm\bax NeTfcbeg\) ;ffbv\tm\bax HTm\baT_X ;hgbgetfcbegb P\TZZ\Tgbe\) TaW Cfg\ghgb MhcXe\beX W\ @be`tm\bax X L\VXeVT cxe \ NeTfcbeg\! CgT_\Ta heuta VXageXf [TiX fxxa Ta \avextfx \a g[x `Te^Xg f[tex by ce\itgx Thgb`bU\_Xf j\g[\a g[x getafcbegtg\ba `Te^Xg f\avx /--5+ N[X ba_l exz\ba j[xex g[x `Te^Xg f[tex by ce\itgx Thgb`bU\_Xf [Tf WXVeXTfXW \f fbhg[xea CgT_l TaW g[x \f_tawf+ CafgXTW) [XeX) chu_\v getafcbegtg\ba [Tf fxxa Ta \avextfx \a `Te^Xg f[tex+ CagXeXfg\aZ_l) `bgbeu\^xf TaW fvbbgxef [TiX fxxa T WXVeXTfX \a `Te^Xg f[tex \a T exz\baf by CgT_l f\avx /--5+ N[\f WTgT \f ceb`\f\az Ybe g[x WX`TaW Ybe VTe cte^f Tf `bex cte^\az fctvx j\ UX exdh\exw gb fxei\vx g[x \avextf\az ah`uxe by VTef UX\aZ We\iXa \a heuta VXageXf+ 8QO]ZM +*2 5IZ W_VMZ[PQX QVKZMI[M #*()+ b *().$ 11 10+2 10 1/+2 1/ 1.+2 1. 1-+2 /-.0 /-.1 /-.2 /-.3 CgT_l%f VTe bjaxef[\c F\aXTe &CgT_l%f VTe bjaxef[\c' 7INK>@',NKILM<M! DHLJDK<MD<! $"#& N[X ft`x excbeg f[bjf g[tg ce\itgx Thgb`bU\_Xf [TiX fxxa Ta \avextfx \a `Te^Xg f[tex \a T exz\baf by fhuheuta CgT_l TaW chu_\v getafcbegtg\ba [Tf fxxa T VbeeXfcbaW\aZ WXVeXTfX \a `Te^Xg f[tex TVebff fhuheuta CgT_l+ ;f fhv[) g[\f WTgT exixt_f T `Te^Xg axxw g[tg jbh_w UX jx fh\gxw gb Yheg[Xe \aixfg`xag \a CgT_lof VTecTe^ \ayetfgehvghex+ 30

8QO]ZM ++2 A]JTQK J][ IOM #*()0$./.- ;ZX by ix[\v_x 5 3 1 / - CgT_l McT\a @etavx Oa\gXW E\aZWb` AXe`Tal 7INK>@' 0HO@LMDK@ H@F MK<LJIKMI JN==FD>I! (7786(! *<LL< +@JILDMD @ 5K@LMDMD! DHLJDK<MD<! $"#& @\ZheX 00 f[bjf bax extfba j[l g[x hfx by chu_\v getafcbegtg\ba \f WXV_\a\aZ \a CgT_l+ BTi\aZ fb`x by g[x b_wxfg chu_\v UhfXf \a?hebcx) UX\aZ ba TiXeTZX..+1 lxtef b_w) chu_\v getafcbeg \f Vbaf\WXeTU_l \axyy\v\xag+ N[\f \f hawxa\tu_l Vbage\Uhg\aZ gb g[x hayb_w\az VbafXafhf \a CgT_l g[tg bja\az TaW We\i\aZ T cxefbat_ VTe `T^Xf _\YX XTf\Xe+ N[X VTe cte^ `Te^Xg TaW?P V[TeZ\aZ \ayetfgehvghex \a CgT_l fxx` gb UX \agxewxcxawxag+ CY CgT_l VTa fhvvxffyh l \`cebix \gf V[TeZ\aZ \ayetfgehvghex TaW ceb`bgx g[x hfx by?pf) \g Vbh_W cbgxag\t l UXaXY\g Yeb` f\mtu_x \aixfg`xag \a ce\itgx VTe cte^f VXageXW TebhaW?P V_\XagX_X+ @]\TWWS CgT_l UbTfgf bax by?hebcxof [\Z[Xfg etgxf by ix[\v_xf ceb*vtc\gt) j[\_x g[x fgbv^ by VTe cte^f \f fg\ \`\gxw) j\g[ Ubg[ g[x `T\a heuta VXageXf TaW fhuheuta TeXTf exdh\e\az f\za\y\vtag chu_\v TaW ce\itgx \aixfg`xag \a g[xfx YTV\_\g\Xf+ =heexag TffXgf TeX ixel bygxa \afhyy\v\xag gb `XXg WX`TaW) XiXa _XTW\aZ gb g[x ceb_\yxetg\ba by \aybe`t_ VTe cte^f \a `T]be CgT_\Ta V\g\Xf+ BXaVX) g[xex TeX f\za\y\vtag bccbegha\g\xf gb \aixfg \a g[\f TffXg V_Tff+ Gbi\aZ YbejTeW) VTe cte^f cebi\wxef Vbh_W fxvhex T [XTW*fgTeg \a g[x atfvxag X_XVge\V `bu\_\gl `Te^Xg Ul cebi\w\az ba*f\gx?p V[TeZ\aZ YTV\_\g\Xf+ IaX by g[x `T\a g[extgf gb g[x \awhfgel \f g[x \avextf\az TccXT_ by VTe f[te\az fxei\vxf) XfcXV\T l \a V\g\Xf fhv[ Tf G\_Ta) Lb`X) Nhe\a TaW @_bexavx+ MhUheUTa TeXTf) j[xex VTe f[te\az fxei\vxf TeX X\g[Xe TUfXag be abg j\wxfcextw) [TiX g[xexybex Ta XiXa U\ZZXe cbgxag\t_+ ;f \a g[x VTfX by bg[xe TffXgf) VTe cte^f TeX XkgeX`X_l YeTZ`XagXW) byyxe\az \agxeatg\bat_ TaW Wb`Xfg\V \aixfgbef T`c_X bccbegha\g\xf Ybe Vbafb_\WTg\ba c_tlf) j[\v[ TeX T_eXTWl gt^\az c_tvx \a bg[xe `bex `TgheX?O `Te^Xgf+ 31

9. Non-core investors ; by g[x fxvgbef VbiXeXW Ul g[\f excbeg [TiX fb YTe XkcXe\XaVXW W\YYXe\aZ _XiX_f by cxaxgetg\ba Ul getw\g\bat_ \ayetfgehvghex \aixfgbef+ Mb`X) _\^X WTgT VXageXf) TeX Wb`\aTgXW Ul ext_ XfgTgX fcxv\t_\fgf) j[\_x VTe cte^f gxaw gb UX g[x cexfxeix by ce\itgx Xdh\gl c_tlxef+ Ig[Xe TeXTf TeX `hv[ `bex W\iXefX \a gxe`f by g[x ceby\_x by \aixfgbef g[tg [TiX V_bfXW f\za\y\vtag ib_h`xf by TVdh\f\g\baf+ BbjXiXe) T [TiX fxxa TVg\i\gl Yeb` fcxv\t_\fg \ayetfgehvghex \aixfgbef gb fb`x XkgXag) TaW g[\f \f fxg gb \avextfx+ N[X etg\bat_x Ybe g[\f \f VXageT_ gb g[x atghex by g[\f excbeg8 VbeX \ayetfgehvghex c_tlxef Y\aW\aZ g[x`fx_ixf \a \avextf\az_l Vb`cXg\g\iX fctvxf j\g[ TffXg ce\v\az chf[\az exgheaf \agb TeXTf _bjxe g[ta XkcXVgXW+ =ehv\t l Ybe YhaWf VheeXag_l \a Ta \aixfg`xag c[tfx) g[\f j\ XTW fb`x gb YT f[beg by g[x exghea _XiX_f ceb`\fxw gb g[x\e _\`\gxw ctegaxef+ IaX jtl gb TWWeXff g[\f \f gb chf[ \agb aba*vbex fxvgbef j[xex Vb`cXg\g\ba \f cxe[tcf _Xff \agxafx) `XTa\aZ TffXg ce\vxf TeX `bex extfbatu_x+ BbjXiXe) j\g[ g[\f Vb`Xf T `bix hc g[x cxevx\ixw e\f^ VheiX \agb hayt`\_\te TeXTf) chf[\az g[x UbhaWTe\Xf by j[tg \f TVVXcgXW Tf \ayetfgehvghex \a g[x cebvxff+ ;f `Xag\baXW) g[x fxvgbef VbiXeXW Ul g[\f excbeg TeX T`baZ g[x TeXTf gb j[\v[ \ayetfgehvghex Zebhcf TeX abj ghea\az) Uhg abg \a T ha\ybe` YTf[\ba) Tf @\ZheXf 01 gb 05 WX`bafgeTgX+ 8QO]ZM +,2 ;W[XQ\IT[ " PMIT\PKIZM >"3 ^WT]UM Ja QV^M[\WZ[ #*()- b B) *()0$ 1! *(! 0! +(! ++! Cafg\ghg\baT_ \aixfgbe CaWhfge\T_ Je\iTgX Xdh\gl LXT_ XfgTgX \aixfgbe L?CN 7INK>@' DHLJDK<MD<! $"#& ;f VTa UX fxxa \a @\ZheX 01) g[x [bfc\gt_f $ [XT_g[VTeX fxvgbe \f ex_tg\ix_l W\iXefX \a gxe`f by g[x ceby\_xf by \aixfgbef g[tg [TiX TVdh\eXW TffXgf f\avx g[x UXZ\aa\aZ by /-.2+ ;f cxe[tcf g[x `bfg `TgheX by g[x fxvgbef fghw\xw Ybe g[\f excbeg) \g \f T extfbatu_x XkcXVgTg\ba g[tg T j\wx TeeTl by W\YYXeXag glcxf by c_tlxe \f TVg\iX \a g[x `Te^Xg+ >\exvg \afg\ghg\bat_ \aixfgbef _XTW g[x ctv^ \a [bfc\gt_f) j[\v[ \f Tabg[Xe f\za by g[x `Tghe\gl by g[x fxvgbe) Yb bjxw Ul getw\g\bat_ ce\itgx Xdh\gl Zebhcf TaW \awhfge\t_ c_tlxef+ >\exvg \ayetfgehvghex \aixfgbef TaW YhaWf UXgjXXa g[x` `T^X hc /-# by g[x 32

ib_h`xf \a g[x fctvx bixe g[x ctfg g[exx lxtef) fhzzxfg\az ebb` Ybe XkcTaf\ba) Uhg g[xex j\ \^X_l UX Y\e` Vb`cXg\g\ba Yeb` g[x _TeZX*f\mXW Zebhcf T_eXTWl bcxetg\az+ FXTW\aZ \aixfgbef bixe g[x cxe\bw \av_hwx JMJ CaiXfg`Xagf) JTegaXef Aebhc) CaYeTVTc\gT_) <hct TaW g[x JXaf\baf CaYeTfgehVgheX J_TgYbe`+ Cg \f \ h`\atg\az gb Vb`cTeX g[x `Te^Xg f[tex Ybe [bfc\gt_f \a @\ZheX 01 gb @\ZheX 02 j[\v[ VbiXef ahef\az fxei\vxf TaW W\fc_Tlf T ixel W\YYXeXag `Te^Xg `T^Xhc+ 8QO]ZM +-2?]Z[QVO [MZ^QKM[ >"3 ^WT]UM Ja QV^M[\WZ[ #*()- b B) *()0$ 7INK>@' DHLJDK<MD<! $"#& )*! 1# 0# Cafg\ghg\baT_ \aixfgbe 0! )/! *(! +.! Je\iTgX Xdh\gl CaWhfge\T_ CaYeTfgehVgheX \aixfgbe CaYeTfgehVgheX YhaW Mcbafbe ;f VTa UX fxxa \a @\ZheX 02) g[x getaftvg\ba ib_h`x f[tex \f TZT\a _XW Ul \afg\ghg\bat_ \aixfgbef) T_g[bhZ[ \awhfge\t_ Zebhcf gt^x T YTe _TeZXe cteg by g[x fvxax TaW ce\itgx Xdh\gl c_tlxef jxex g[x g[\ew _TeZXfg c_tlxe+ CaYeTfgehVgheX YhaWf [TiX fb YTe `TWX T axz_\z\u_x \`ctvg ba g[x ahef\az fctvx) [\Z[_\Z[g\aZ \g Tf T fxvgbe g[tg Vbh_W fxx f\za\y\vtag Zebjg[ Ybe g[xfx Zebhcf bixe Vb`\aZ lxtef+ BbjXiXe) \g T_fb `XTaf g[tg g[xex TeX Vb`cX \az extfbaf Ybe YhaWf gb [TiX lxg `TWX g[x `bix \agb g[x `Te^Xg) WXfc\gX \g cbffxff\az V[TeTVgXe\fg\Vf g[tg TeX bui\bhf_l TggeTVg\iX Ybe \afg\ghg\bat_f TaW ce\itgx Xdh\gl+ Ca TWW\g\ba) g[x cexfxavx by T fgebaz Vb`c_X`Xag by \awhfge\t_ Uhf\aXffXf TWWf `T]be Vb`cXg\g\ba gb g[\f [\Z[_l fcxv\t_\fxw fctvx) cbgxag\t l \avextf\az g[x UTee\Xef gb Xagel gb T _XiX_ UXlbaW g[bfx gb_xetgxw Ul \ayetfgehvghex YhaWf+ =heexag _XTW\aZ Zebhcf \av_hwx Je\`ba\T_) HbeW\V =Tc\gT_) B=*IaX) ;R; LXT_ ;ffxgf TaW >XhgfV[X Qb[aXa+ N[X XWhVTg\ba fxvgbe T_fb gt^xf ba T dh\gx W\YYXeXag TccXTeTaVX gb g[x gjb bg[xef VbiXeXW TUbiX+ BXeX) Tf W\fc_TlXW \a @\ZheX 03) \awhfge\t_ Zebhcf TeX \a g[x We\i\aZ fxtg j\g[ Ta T_`bfg [T_Y f[tex by exvxag G$; getaftvg\ba ib_h`xf+ Mcbafbef) WXW\VTgXW fv[bb_ JJJ VbafgehVgbef TaW bcxetgbef) TaW \ayetfgehvghex YhaWf TeX XdhT l \aib_ixw \a \aixfg`xag+ 33

8QO]ZM +.2 7L]KI\QWV >"3 ^WT]UM Ja QV^M[\WZ[ #*()- b B) *()0$ 7INK>@' DHLJDK<MD<! $"#&..# 0# /# CaWhfge\T_ )0! )0!,0! Mcbafbe N[X ceb`\axavx by \awhfge\t_ c_tlxef \a fhv[ T fcxv\t_\fxw Y\X_W \f gb UX XkcXVgXW) Uhg g[xex \f hawbhugxw_l T ZTg[Xe\aZ by `b`xagh` \a g[x cteg\v\ctg\ba by bg[xe Zebhcf \a g[x fxvgbe+ Q[\_X \ayetfgehvghex YhaWf VTa gt^x W\eXVg bjaxef[\c by f\az_x fv[bb_ JJJf) j[\v[ excexfxag g[x Uh_^ by g[x getaftvg\baf `T^\aZ hc g[x f[tex [X_W Ul g[xfx Zebhcf) g[xex TeX bg[xe ebhgxf \agb g[\f TeXT) XkX`c_\Y\XW Ul g[x fxx`\az_l f`t ce\itgx Xdh\gl Vb`cbaXag by @\ZheX 03) \Y bax W\Zf T _\gg_x WXXcXe+ N[X ce\itgx Xdh\gl Vb`cbaXag \a g[x @\ZheX 03 YT\_f gb WX`bafgeTgX g[x XkgXag by \aib_ix`xag \a g[x fxvgbe Ul g[xfx Zebhcf) ce\av\ct l UXVThfX fb `Tal by g[x \awhfge\t_ c_tlxef \aib_ixw \a ce\itgx XWhVTg\ba [TiX fxvhexw UTV^\aZ Yeb` ce\itgx Xdh\gl+ N[\f gbb Vbh_W UX T `XTaf Ybe WXW\VTgXW \ayetfgehvghex YhaWf gb XagXe g[x `Te^Xg) Tg _XTfg Ybe g[bfx g[tg [TiX TccXg\gX Ybe VbecbeTgX _XiX_ getaftvg\baf+ FXTW\aZ XWhVTg\ba \aixfgbef \av_hwx AM; Aebhc) AC=) AT_\_Xb A_bUT_?WhVTg\ba) >X`XgXe JTegaXef TaW HbeW ;az_\t?whvtg\ba+ 8QO]ZM +/2 6I\I KMV\ZM[ >"3 ^WT]UM Ja QV^M[\WZ[ #*()- b B) *()0$ CaYeTfgehVgheX YhaW CaYeTfgehVgheX \aixfgbe Je\iTgX Xdh\gl LXT_ XfgTgX \aixfgbe 3# 1# /# /# 0.! L?CN CaWhfge\T_ CaYeTfgehVgheX YhaW CaYeTfgehVgheX \aixfgbe Cafg\ghg\baT_ \aixfgbe 7INK>@' DHLJDK<MD<! $"#& N[X `Te^Xg Ybe WTgT VXageXf W\fc_Tlf cxe[tcf g[x `bfg fgte^_l \aw\i\wht_ ceby\_x by g[x UhaV[ TaT_lfXW Ybe g[\f excbeg+ ;f fxxa \a @\ZheX 04) g[\f \f Ta TeXT g[tg \f Wb`\aTgXW Ul ext_ XfgTgX \aixfg`xag gehfgf &L?CN'+ N[\f WX`bafgeTgXf g[x dhtawtel YTVXW Ul 34

\ayetfgehvghex YhaWf Tf gb [bj gb gextg WTgT VXageXf) X\g[Xe Tf ext_ XfgTgX be Tf \ayetfgehvghex TffXgf+ @eb` g[x WTgT) bax jbh_w Tffh`X g[tg g[x Y\efg bcg\ba \f hatfft\_tu_l VbeeXVg) Uhg g[xex \f Ta \avextf\az \agxexfg \a g[xfx YTV\_\g\Xf Yeb` \ayetfgehvghex Zebhcf Tf g[xl XlX Ta XkcTaW\aZ \awhfgel j\g[ ebuhfg _baz*gxe` exixahx YbeXVTfgf+ CaYeTP\T \f bax fhv[ Zebhc g[tg [Tf Ueb^Xa \agb g[x `Te^Xg \a T f\za\y\vtag jtl) Uhg \g TaW bg[xef j\ [TiX gb VbagXaW j\g[ g[x Wb`\aTaVX by Zebhcf _\^X?dh\a\k TaW?WZX=baaXk+ ;WWXW gb g[\f \f g[x _bj UTee\Xef gb Xagel Ybe fb`x WTgT VXageX Uhf\aXff `bwx_f) j[xex Uh\_W\aZf TeX _\gg_x `bex g[ta _\Z[gjX\Z[g jtex[bhf\az) j[\v[ `Tl gebhu_x fb`x \ayetfgehvghex \aixfgbef+ =Te cte^f) `XTaj[\_X) W\fc_Tl f\`\_te Wb`\aTaVX Ul bax VTgXZbel by \aixfgbe) Uhg g[\f g\`x \g \f ce\itgx Xdh\gl Y\e`f) Tf WX`bafgeTgXW \a @\ZheX 05+ 8QO]ZM +02 5IZ XIZS[ >"3 ^WT]UM Ja QV^M[\WZ[ #*()- b B) *()0$ 1! 1!.!*! *! /,! Je\iTgX Xdh\gl Cafg\ghg\baT_ \aixfgbe CaWhfge\T_ CaYeTfgehVgheX \aixfgbe L?CN 7INK>@' DHLJDK<MD<! $"#& N[\f VTa ce\av\ct l UX Tgge\UhgXW gb g[x YTVg g[tg g[x VTe cte^f fctvx \a?hebcx \f Wb`\aTgXW Ul _TeZX VbecbeTgXf g[tg TeX ce\`x VTaW\WTgXf Ybe Zebhcf _bb^\az gb WXc_bl VTc\gT_ Tg fvt_x \a VbecbeTgX getaftvg\baf+ N[\f [Tf abg UTeeXW \afg\ghg\bat_f TaW \ayetfgehvghex \aixfgbef Yeb` gt^\az T f_\vx) T_UX\g T f_xawxe bax Tg cexfxag+ CY T`baZ g[xfx g[xex TeX c_tlxef _bb^\az Ybe T g\v^xg f\mx by fhyy\v\xag ib_h`x) g[xa VTe cte^f Vbh_W UX Ta TggeTVg\iX bcg\ba+ N[Tg UX\aZ ft\w) fb`x j\ UX _bb^\az T[XTW Tg g[x W\fehcg\ba YTVXW Ul g[x VTe \awhfgel TaW g[x W\eX cexw\vg\baf Ybe Thgb`bU\_X bjaxef[\c) TaW g[xexybex WX`TaW Ybe cte^\az) g[tg T ceb_\yxetg\ba by e\wx f[te\az TaW Thgbab`bhf ix[\v_xf `\Z[g ext_\fx+ =heexag _XTWXef \a g[x fxvgbe \av_hwx EEL) @\efg MgTgX TaW JTe^/1+ CaiXfgbef \a g[x VeX`Tgbe\T fxvgbe [TiX W\iXef\Y\XW \a g[x _XTfg fgtg\fg\vt l f\za\y\vtag jtl+ N[X ft`c_x f\mx by getaftvg\baf VTcgheXW Ul g[\f excbeg \f T_fb gbb f`t gb cxeybe` g[x ft`x ^\aw by TaT_lf\f Tf ba g[x fxvgbef TUbiX+ BbjXiXe) by g[x WTgT cb\agf g[tg [TiX UXXa Vb XVgXW) g[xfx TeX _XW Ul W\eXVg \afg\ghg\bat_ \aixfgbef) fhv[ Tf g[x IagTe\b NXTV[Xefo JXaf\ba J_Ta TaW g[x Oa\iXef\g\Xf MhcXeTaahTg\ba MV[X`X+ 35

10. Correlation analysis @heg[xe TaT_lf\f by g[x DHLJDK<MD< WTgTfXgf jtf VbaWhVgXW exztew\az fxvbawtel `Te^Xg getaftvg\baf Whe\aZ g[x cxe\bw K. /-.2 * K. /-.5 \a g[x fcxv\y\v aba*vbex fxvgbef by7 " [bfc\gt_f TaW [XT_g[VTeX " ahef\az fxei\vxf " YhaXeT_ fxei\vxf TaW VeX`Tgbe\T " XWhVTg\ba " WTgT VXageXf " VTe cte^f N[X `T\a ce\itgx fbhevx by getaftvg\ba WTgT jtf DHLJDK<MD<of WTgTF\iX) T cebce\xgtel WTgTUTfX by \ayetfgehvghex TaW exaxjtu_x XaXeZl ceb]xvgf+ N[X chu_\v fbhevxf by WX`bZeTc[\V TaW `TVebXVbab`\V WTgT jxex g[x IeZTa\fTg\ba Ybe?Vbab`\V =b* bcxetg\ba TaW >XiX_bc`Xag &I?=>') Tf jx Tf bg[xe ZbiXea`XagT_ TaW \agxe* ZbiXea`XagT_ bezta\ftg\baf+ Ca g[x cexfxag fghwl) _\axte exzexff\ba TaW VbeeX_Tg\ba TaT_lf\f [TiX UXXa VbaWhVgXW gb \WXag\Yl TaW TffXff ex_tg\baf[\cf UXgjXXa T ah`uxe by ite\tu_xf j\g[\a WX`bZeTc[\Vf) `TVebXVbab`\Vf TaW getaftvg\ba ib_h`xf+ N[X ZbT_ by g[\f hawxegt^\az jtf gb WXgXe`\aX g[x We\iXef by fxvbawtel `Te^Xg TVg\i\gl \a g[x fx_xvgxw fxvgbef \a g[x cxe\bw K. /-.2*K. /-.5+ Ca cteg\vh_te) g[x V[bfXa ite\tu_xf jxex7 " >XcXaWXag ite\tu_xf &`TVeb \aw\vtgbef'7 " A>J Zebjg[ etgx &dhtegxe ba dhtegxe V[TaZX' " GbegT_\gl etgx &dhtegxe ba dhtegxe V[TaZX' " @Xeg\_\gl etgx &dhtegxe ba dhtegxe V[TaZX' CaWXcXaWXag ite\tu_xf &\`ctvg\az ba g[x `TVeb \aw\vtgbef'7 " Bbfc\gT_f TaW [XT_g[VTeX getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag " Hhef\aZ fxei\vxf getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag " =ex`tgbe\t TaW YhaXeT_ fxei\vxf getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag "?WhVTg\ba getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag " >TgT VXageXf getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag " =Te cte^f getaftvg\ba ib_h`x &OM"' TaW WXT_ Vbhag 36

LXZeXff\ba TaT_lf\f \f T flfgx`tg\v dhtag\gtg\ix_l UTfXW \aixfg\ztg\ba \agb T ah`xe\vt_ WTgTfXg+ Cg \f X`c_blXW gb XkgeTVg hfxyh_ ex_tg\baf[\cf Yeb` j[\v[ `bwx_f `Tl UX VbafgehVgXW TaW VbaV_hf\baf WeTja+ Ca g[x Y\efg \afgtavx) exzexff\ba TaT_lf\f jtf VbaWhVgXW gb TffXff g[x \`ctvg by g[x TUbiX \awxcxawxag ite\tu_xf ba g[x WXcXaWXag ite\tu_xf j\g[\a bhe WTgTfXg+ N[X hfx by exzexff\ba TaT_lf\f by T g[exx WXcXaWXag ite\tu_xf jtf be\z\at l TWibVTgXW) TaW gbzxg[xe j\g[ g[x Vb`c_XgX fxg by \awxcxawxag ite\tu_xf) Uhg `T]be _\`\gtg\baf ba bhe WTgTfXg jxex _TgXe W\fVbiXeXW+ N[X _TV^ by Vb`ceX[Xaf\iX Y\aTaV\T_ WTgT) WhX gb VbaY\WXag\T_\gl TZeXX`Xagf UXgjXXa g[x cteg\xf gb TVdh\f\g\ba WXT_f) WXVeXTfXW g[x dhtag\gl by WTgT+ N[X axxw gb [TiX fhyy\v\xag WTgT cb\agf gb XafheX Ta TVVheTgX TaT_lf\f _XW hf gb YTibhe WTgT Ul dhtegxef+ BbjXiXe) YXeg\_\gl etgxf Ul dhtegxef jxex abg TiT\_TU_X TaW `begt_\gl etgxf cxe dhtegxe jxex ba_l TiT\_TU_X Ybe g[x Oa\gXW E\aZWb`+ ;f T exfh_g) g[x VeX`Tgbe\T getaftvg\ba ib_h`x TaW YXeg\_\gl etgx ite\tu_xf jxex ex`bixw Yeb` g[\f TaT_lf\f+ PT_hXf Ybe K. /-.5 jxex T_fb abg TiT\_TU_X) cbff\u_l WhX gb g[x excbegof cebk\`\gl gb g[tg cxe\bw) TaW fb g[x K. /-.5 WTgT cb\ag jtf T_fb W\fVTeWXW+ FTfg_l) g[x?o fvbcx jtf VbafgeT\aXW gb T chex_l OE*be\XagTgXW fghwl ba g[x ft`x UTf\f+ N[X ex`t\a\az ite\tu_xf jxex7 " OE A>J Zebjg[ "?WhVTg\ba Ul getaftvg\ba ib_h`x "?WhVTg\ba Ul WXT_ Vbhag " Bbfc\gT_f Ul getaftvg\ba ib_h`x " Bbfc\gT_f Ul WXT_ Vbhag " ; f\k fxvgbef Ul WXT_ Vbhag =bafxdhxag_l) g[x exzexff\ba TaT_lf\f `Xg[bW jtf TUTaWbaXW TaW exc_tvxw j\g[ VbeeX_Tg\ba TaT_lf\f bixe g[x cxe\bw K. /-.2 gb K1 /-.4+ GbegT_\gl etgx jtf T_fb ex`bixw WhX gb _TV^ by ex_xitavx+ =beex_tg\ba TaT_lf\f VTa UX hfxw gb \ hfgetgx g[x ex_tg\baf[\c TaW \gf fgexazg[ UXgjXXa Tal gjb by bhe ite\tu_xf+ Ia_l g[x OE ite\tu_xf jxex fh\gtu_x gb UX TaT_lfXW) Tf g[bfx jxex g[x `bfg Vb`ceX[Xaf\iX+ @\at l) VbeeX_Tg\ba VbXYY\V\Xag \f hfxw gb dhtag\yl bhe Y\aW\aZf+ ; VbeeX_Tg\ba VbXYY\V\Xag TccebTV[\aZ (. jbh_w \aw\vtgx T fgebaz cbf\g\ix ex_tg\baf[\c UXgjXXa gjb ite\tu_xf) 4-

j[xextf T it_hx TccebTV[\aZ - jbh_w \aw\vtgx jxt^ gb _bj VbeeX_Tg\ba+ ; it_hx TccebTV[\aZ *. jbh_w \aw\vtgx T fgebaz axztg\ix ex_tg\baf[\c+ EIJTM 1' 5WZZMTI\QWV NQVLQVO[ 6MXMVLMV\ GIZQIJTM <VLMXMVLMV\ GIZQIJTM 5WZZMTI\QWV KWMNNQKQMV\ 96A #Y]IZ\MZ WV Y]IZ\MZ$ OE * Je\iTgX XWhVTg\ba * NeTafTVg\ba ib_h`x -+2-96A #Y]IZ\MZ WV Y]IZ\MZ$ OE * Bbfc\gT_f * NeTafTVg\ba ib_h`x -+11 96A #Y]IZ\MZ WV Y]IZ\MZ$ OE * Bbfc\gT_) VTe cte^f) ce\itgx XWhVTg\baf) ahef\az fxei\vxf) WTgT VXageXf * >XT_ Vbhag -+-6 96A #Y]IZ\MZ WV Y]IZ\MZ$ OE * Hhef\aZ fxei\vxf * >XT_ Vbhag -+-6 96A #Y]IZ\MZ WV Y]IZ\MZ$ OE * Je\iTgX XWhVTg\ba * >XT_ Vbhag -+-/ 7INK>@' DHLJDK<MD<! $"#& Cg jtf WXWhVXW Yeb` g[x ah`xe\vt_ exfh_gf g[tg7 " N[XeX \f T `bwxetgx_l cbf\g\ix) fgebaz ex_tg\baf[\c UXgjXXa OE A>J Zebjg[ TaW OE XWhVTg\ba TVdh\f\g\ba getaftvg\ba ib_h`x+ " N[XeX jtf T cbf\g\ix Uhg f_\z[g_l jxt^ _\a^ UXgjXXa OE A>J Zebjg[ etgx TaW g[x OE [bfc\gt_ TaW [XT_g[VTeX TVdh\f\g\ba getaftvg\ba ib_h`x+ " N[XeX jtf T cbf\g\ix TaW ixel jxt^ _\a^ UXgjXXa OE A>J Zebjg[ etgx TaW g[x gbgt_ ah`uxe by OE TVdh\f\g\baf TVebff g[x fxvgbef) XkV_hW\aZ YhaXeT_ fxei\vxf TaW VeX`Tgbe\T Tf g[xex jtf T _TV^ by WTgT cb\agf WhX gb _bj WXT_ Y_bj+ " N[XeX jtf T cbf\g\ix Uhg ixel jxt^ _\a^ UXgjXXa OE A>J Zebjg[ etgx TaW g[x OE ahef\az fxvgbe TVdh\f\g\ba WXT_ Vbhag+ " N[XeX jtf T cbf\g\ix Uhg f\za\y\vtag_l jxt^ ex_tg\baf[\c UXgjXXa OE A>J Zebjg[ etgx TaW g[x OE XWhVTg\ba fxvgbe TVdh\f\g\ba WXT_ Vbhag+ 4.

=Q[\ WN EIJTM[ NTU_X.+ Bbfc\gT_f TaW [XT_g[VTeX WXT_f &/-.2 * /-.5' ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++.4 NTU_X /+ Hhef\aZ fxei\vxf WXT_f &/-.2 r /-.5'+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ /1 NTU_X 0+ @haxet_ fxei\vxf TaW VeX`Tgbe\T WXT_f &/-.2 * /-.4' ++++++++++++++++++++++++++++++++++++++++++++++++++++++ /6 NTU_X 1+?WhVTg\ba WXT_f &/-.2 * /-.5'++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 01 NTU_X 2+ >TgT VXageX `Te^Xg &/-.5'+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 03 NTU_X 3+ >TgT VXageXf WXT_f &/-.2 * /-.5' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 1. NTU_X 4+ =Te cte^f WXT_f &/-.2 * /-.5'+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 12 NTU_X 5+ >TgT VXageX VTcTU\_\gl \a g[x Mbhg[ by CgT_l &/-.4' ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 3. NTU_X 6+ =beex_tg\ba Y\aW\aZf++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 4. 4/

=Q[\ WN 8QO]ZM[ @\ZheX.7 =bex if aba*vbex WXT_ Y_bj \a g[x?o &/-.2 r K. /-.5' +++++++++++++++++++++++++++++++++++++++++++++++++++ 0 @\ZheX /7 >XT_ Y_bj Ul fxvgbe &K. /-.2 r K. /-.5' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 5 @\ZheX 07 B\fgbe\VT_ WXT_ Y_bj &K. /-.2 r K. /-.5' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 5 @\ZheX 17 KhTegXe_l WXT_ Y_bj &K/ /-.4 r K. /-.5'+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 6 @\ZheX 27 >XT_ Y_bj Ul fxvgbe &K/ /-.4 r K. /-.5' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++.- @\ZheX 37 Hba*VbeX G$; WXT_ Vbhag Ul Vbhagel &K. /-.2 r K. /-.5'++++++++++++++++++++++++++++++++++++++++++.. @\ZheX 47 Bbfc\gT_ TaW [XT_g[VTeX G$; WXT_ Y_bj &/-.2 r /-.4'++++++++++++++++++++++++++++++++++++++++++++++++++./ @\ZheX 57 JXeVXagTZX by cbch_tg\ba TZXW 32 lxtef TaW bixe &.653 r /-.3' ++++++++++++++++++++++++++++++++++.0 @\ZheX 67 Hhef\aZ fxei\vxf?o G$; WXT_ Y_bj &/-.3 r /-.5'+++++++++++++++++++++++++++++++++++++++++++++++++++++++++.5 @\ZheX.-7 JXeVXagTZX by YX`T_Xf \a g[x _TUbhe YbeVX &.66- r /-.4' ++++++++++++++++++++++++++++++++++++++++++++.6 @\ZheX..7 Qbe_Wj\WX WX`Xag\T YbeXVTfg\aZ &/-.2 r /-2-' ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ /- @\ZheX./7 @haxet_ fxei\vxf?o G$; WXT_ Y_bj &/-.3 * /-.4'++++++++++++++++++++++++++++++++++++++++++++++++++++++++ /2 @\ZheX.07 =ex`tgbe\t gb cbch_tg\ba etg\b TZT\afg etgxf by Tg[X\f` &/-.5' ++++++++++++++++++++++++++++++++++ /3 @\ZheX.17 =ex`tg\baf Tf T cxevxagtzx by gbgt_ WXTg[f &.663 r /-.3' ++++++++++++++++++++++++++++++++++++++++++ /4 @\ZheX.27 ;aaht_ XWhVTg\ba G$; WXT_ Vbhag TaW getaftvg\ba ib_h`x &/-.2 r K. /-.5' +++++++++++ 0- @\ZheX.37 ;aaht_ WTgT VXageX G$; WXT_ Vbhag &K. /-.2 r K. /-.5' ++++++++++++++++++++++++++++++++++++++++++ 02 @\ZheX.47 =bfg by X_XVge\V\gl \a g[x?o &/-.0 * /-.4' ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 05 @\ZheX.57 ;aaht_ VTe cte^f G$; WXT_ Vbhag TaW getaftvg\ba ib_h`x &/-.2 r K. /-.5'+++++++++++++ 1/ @\ZheX.67 CgT_l aba*vbex G$; WXT_ Vbhagf Ul fxvgbe &/-.2 r /-.4' ++++++++++++++++++++++++++++++++++++++++++++ 13 @\ZheX /-7 BXT_g[ TVVbhagf \a CgT_l &/-.3' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 15 @\ZheX /.7 C``\ZeTg\ba Ul Vbhagel &/--4 r /-.3' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 2- @\ZheX //7 JXeVXagTZX by?o TaW CgT_l cbch_tg\ba TZXW 3-(++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 2- @\ZheX /07 =TeX [b`xf by g[exx `T]be cebi\wxef \a CgT_\Ta exz\baf &/-.5' ++++++++++++++++++++++++++++++++++++ 2. @\ZheX /17 JXeVXagTZX by X_WXe_l cbch_tg\ba Ul CgT_\Ta exz\ba &/-.4' +++++++++++++++++++++++++++++++++++++++++++ 20 @\ZheX /27 @X`T_Xf TZXW.2( \a?o TaW CgT_l _TUbhe YbeVX &/--5 r /-.4'++++++++++++++++++++++++++++++++++++++ 20 40

@\ZheX /37 F\YX XkcXVgTaVl Tg U\eg[ &/--- r /-.3' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 21 @\ZheX /47 LXZ\baf Ul cbch_tg\ba TaW ah`uxe by VeX`Tgbe\T &/-.5'++++++++++++++++++++++++++++++++++++++++++++ 22 @\ZheX /57 MXVbaWTel fv[bb_ chc\_f \a ce\itgx XWhVTg\ba &/--2 r /-.2' +++++++++++++++++++++++++++++++++++++++ 24 @\ZheX /67 Je\iTgX fv[bb_f \a CgT_\Ta exz\baf if+ cbch_tg\ba WXaf\gl &/-.5' +++++++++++++++++++++++++++++++++++ 25 @\ZheX 0-7 Hh`UXe by WTgT VXageXf \a fx_xvgxw?hebcxta Vbhage\Xf &/-.5'++++++++++++++++++++++++++++++++++ 3- @\ZheX 0.7 >TgT VXageX Vbhag Ul exz\ba &/-.5'++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 3. @\ZheX 0/7 =Te bjaxef[\c \avextfx &/-.0 r /-.3' +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 30 @\ZheX 007 JhU_\V Uhf TZX &/-.5'++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ 31 @\ZheX 017 Bbfc\gT_f $ [XT_g[VTeX G$; ib_h`x Ul \aixfgbef &/-.2 r K. /-.5'+++++++++++++++++++++++++++ 32 @\ZheX 027 Hhef\aZ fxei\vxf G$; ib_h`x Ul \aixfgbef &/-.2 r K. /-.5'+++++++++++++++++++++++++++++++++++++ 33 @\ZheX 037?WhVTg\ba G$; ib_h`x Ul \aixfgbef &/-.2 r K. /-.5' +++++++++++++++++++++++++++++++++++++++++++++++ 34 @\ZheX 047 >TgT VXageXf G$; ib_h`x Ul \aixfgbef &/-.2 r K. /-.5'+++++++++++++++++++++++++++++++++++++++++++ 34 @\ZheX 057 =Te cte^f G$; ib_h`x Ul \aixfgbef &/-.2 r K. /-.5' ++++++++++++++++++++++++++++++++++++++++++++++++ 35 41

About inspiratia DHLJDK<MD< chf[xf g[x UbhaWTe\Xf by TaT_lg\Vf \a g[x Z_bUT_ \ayetfgehvghex TaW exaxjtu_xf fxvgbef) cebwhv\az g[x `bfg TVVheTgX TaW \af\z[gyh_ TaT_lf\f) havbixe\az axj Y\aTaV\T_ \aybe`tg\ba TaW `T^\aZ ebuhfg fxvgbe cexw\vg\baf+ DHLJDK<MD< cebi\wxf V_\Xagf j\g[ g[x gbb_f gb Tag\V\cTgX TaW TaT_lfX `Te^Xg gexawf \a T jtl g[tg [X_cf Zebj g[x\e c\cx_\ax by WXT_f TaW Tff\fgf j\g[ Uhf\aXff WXiX_bc`Xag+ <TfXW \a FbaWba TaW QTf[\aZgba >=) DHLJDK<MD< [Tf Ta \agxeatg\bat_ gxt` by \awhfgel XkcXegf TaW TaT_lfgf T j\g[ \a*wxcg[ fxvgbe XkcXeg\fX TaW XkgXaf\iX cebyxff\bat_ axgjbe^f+ DHLJDK<MD< cebwhvxf T `bag[_l cebzet``x by VbagXag e\v[ Ue\XY\aZf TaW jxu\atef) V[T\eXW Ul \a*[bhfx XkcXegf T bj\az V_\Xagf gb XaZTZX j\g[ g[x f[tecxfg `\awf TaW byyxe\az g\`x*xyy\v\xag axgjbe^\az bccbegha\g\xf j\g[ fxa\be cetvg\g\baxef+ DHLJDK<MD< gt\_bef \gf fhccbeg Ybe V_\Xagf j\g[ g[x bu]xvg\ix by UXVb`\aZ T it_hxw Uhf\aXff WXiX_bc`Xag ctegaxe TaW exzh_te_l hawxegt^xf UXfcb^X exfxtev[ TaW TaT_lf\f+ 5WV\IK\2 >Ta\X_ ;gmbe\) J[> BXTW by LXfXTeV[ W+Tgmbe\9\afc\eTg\T+Vb` 202 E\aZf LbTW) FbaWba MQ.- -MS Oa\gXW E\aZWb` 42

About BonelliErede <bax \?exwx \f bax by g[x _TeZXfg \awxcxawxag _Tj Y\e`f \a CgT_l) j\g[ byy\vxf \a G\_Ta) Lb`X) AXabT) FbaWba) <ehffx_f) @eta^yheg) =T\eb &\a VbbcXeTg\ba j\g[ Ebf[Xe\) LTf[XW $ L\TW') ;WW\f ;UTUT &\a VbbcXeTg\ba j\g[ NT`Xeh QbaW` ;ZXZaX[h FTj IYY\VX') >hut\ TaW * g[ebhz[ \agxeatg\bat_ ctegaxef[\cf by Ne\Uba\Ta FTj ;Wi\fbef * L\lTW[ TaW <X\ehg+ QX Vb`U\aX Uhf\aXff TVh`Xa j\g[ TVTWX`\V XkVX XaVX gb byyxe bhe \agxeatg\bat_ V_\Xagf Vhgg\aZ*XWZX fb_hg\baf+ Ihe V_\Xagof fgetgxz\v bu]xvg\ixf TeX T_jTlf Tg g[x VbeX by bhe TVg\baf+ Ca YTVg) bhe @bvhf NXT`f TeX WXW\VTgXW gb fcxv\y\v \awhfge\xf TaW T\` gb exfcbaw Tf XYYXVg\iX_l Tf cbff\u_x gb bhe V_\Xagfo axxwf+ Nb fhvvxxw \a Vb`c_Xk fxvgbef _\^X XaXeZl TaW \ayetfgehvghex) bhe V_\Xagf axxw XkgXaf\iX ^abj_xwzx by g[x gtezxg =bhagel TaW [bj chu_\v Thg[be\g\Xf g[xex bcxetgx+ @heg[xe`bex) cebi\w\az _XZT_ fxei\vxf \a exzh_tgxw fxvgbef) fhv[ Tf XaXeZl TaW \ayetfgehvghex) exdh\exf fcxv\y\v gxt`f g[tg Ue\aZ gbzxg[xe XkcXeg\fX Yeb` `h_g\w\fv\c_\atel cetvg\vx TeXTf+ N[Tgof j[l jx [TiX Ta?aXeZl $ CaYeTfgehVgheX @bvhf NXT`+ 5WV\IK\2 GTe\b Lb_\ JTegaXe TaW FXTWXe by?axezl $ CaYeTfgehVgheX @bvhf NXT`) <bax \?exwx GTe\b+Lb_\9UX_Xk+Vb` 43

2025 © DocPlayer.hu Adatvédelmi irányelvek | Szolgáltatási feltételek | Visszajelzés