m206content.pdf

8/17/2019 m206content.pdf

1/72

PDHonline Course M206 (4 PDH)

Overview of Noise Control and HVAC

Acoustics in Buildings

2012

Instructor: A. Bhatia, B.E.

PDH Online | PDH Center

5272 Meadow Estates Drive

Fairfax, VA 22030-6658

Phone & Fax: 703-988-0088

www.PDHonline.org

www.PDHcenter.com

An Approved Continuing Education Provider

http://www.pdhonline.org/http://www.pdhcenter.com/http://www.pdhcenter.com/http://www.pdhonline.org/


2/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9 +: ;9

!"#$"%#& () *(%+# ,(-.$(/ 0-1 234, 45(6+.%5+ %- 76%/1%-8+

,(6$+# ,(-.#-.

?' =':6('= 80 @6?*8)6+(0 +* A*'00/*' &B8(7'0 6( 8( C'580)6&C ,'=6/,D !B6&B 8*' &8A8?5' +: ?'6(7=')'&)'= ?> )B' '8*" E580)6& ,'8(0 )B8) )B' A8*)6&5'0 +: )B' ,'=6/, *')/*( )+ )B'6* +*676(85 A+06)6+( 8:)'*=60)/*?8(&' ?> )B' @6?*8)6+(85 !8@'"

FB'0' @6?*8)6+(0 )*8@'5 )B*+/7B 0+56=0D 56G/6=0 8(= 780'0 ?/) )B' (+*,85 A*+&'00 +: B'8*6(7 ='A'(=0 +()B'6* /5)6,8)' )*8(0,6006+( )B*+/7B 86* 0+ )B8) )B' '8* =*/, 60 0') 6( @6?*8)6+( 8(= 8 0'G/'(&' +: '@'()0 !'&855 B'8*6(7 ?'76(0"

FB' )'*,0 (+60' 8(= 0+/(= 8*' +:)'( /0'= 6()'*&B8(7'8?5>D ?/) )B' )'*, 0+/(= 60 7'('*855> /0'= )+='0&*6?' /0':/5 &+,,/(6&8)6+( +* 8 A5'808() 0+/(=H !B'*'80 )B' )'*, (+60' 60 7'('*855> /0'= )+ ='0&*6?'8( /(!8()'= 0+/(= !B6&B 6()'*:'*'0 !6)B 0A''&B"

I( 'J8,6(6(7 ?/65=6(7 8&+/0)6&0 !' 8*' ,86(5> &+(&'*('= !6)B 0+/(= @6?*8)6+(0 )B*+/7B )B' 86*D !B'*'80 6(

)B' 0/?K'&) +: (+60' &+()*+5 !' 8*' 'G/855> &+(&'*('= !6)B @6?*8)6+(0 )*8(0,6))'= )B*+/7B 0+56= ,8)'*68500/&B 80 A6A' !+*LD &+(&*')' A56()B0 8(= ?/65=6(7 0)*/&)/*'0"

FB60 &+/*0' A*+@6='0 8 ?*6': 6()*+=/&)6+( )+ )B' !8>0 )B' (+60' 60 &B8*8&)'*6M'=D ,'80/*'= 8(= A*'=6&)'="FB60 60 :+55+!'= ?> =60&/006+( +( 0+,' L'> ,'80/*'0 )+ &+()*+5 %NO. (+60' 6( )B' ?/65=6(70" F+ ',AB806M')B' 06,A56&6)> +: )B' 8AA*+8&BD 'G/8)6+(0 8*' L'A) )+ 8 ,6(6,/,"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6$5# () :(6-1

P+60'Q0+/(= 60 &*'8)'= !B'( )B' 86* 60 ,'&B8(6&855> @6?*8)'=" FB' +*676( +: 0+/(= 60 /0/855> )B' @6?*8)6+(0 +:8 0+56= ?+=> 0/&B 80 8 *+)8)6(7 ,8&B6(' &8/06(7 @6?*8)6+(0 6( 6)0 800+&68)'= A8*)0"

O A/,A ,+)+* :+* 'J8,A5' *+)8)'0 6(06=' 8 &806(7 8(= )B60 *+)8)'0 )B' 6,A'55'* 850+ 6(06=' 8 &806(7" FB'0')!+ *+)8)6(7 6)',0 */( +( ?'8*6(70 !B6&B )*8(0:'* @6?*8)6+(0 )+ )B' !B+5' A/,A /(6) !B6&B 6( )/*( @6?*8)'0

)B' A/,A ,+/()6(7 ?*8&L')R0S"

I: A8*) +: )B' *+)8)6(7 ,8&B6(' 60 +/) +: ?858(&' +* =8,87'= 6) 60 G/6)' 56L'5> )B8) )B' (+60' !655 ?' 6(&*'80'=80 )B' 6()'(06)> +: @6?*8)6+( 6(&*'80'0"

8 &+,?6(8)6+( +:@6?*8)6+( 8(= 86* )/*?/5'(&'"

P+60'Q0+/(= R)B' @6?*8)6(7 86*S 60 *8=68)'= 6( 855 =6*'&)6+(0 :*+, )B' 0+/*&' A*+=/&6(7 6)" FB60 ,'8(0 )B8) 855A'+A5' 8) )B' 08,' =60)8(&' *8=6855> :*+, )B' 0+/*&' &8( B'8* )B' 0+/(= 'G/855>" I: )B'*' !80 (+ 86* :+* )B'0+/(= )+ )*8@'5 )B*+/7B )B'*' !+/5= ?' (+ (+60'D :+* 6(0)8(&' 6: 8 ?'55 60 */(7 6( 8 @8&//, )B'( )B'*' !+/5=?' (+ 0+/(="

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

2(& ;+ :(6-1 9S FB' )'*, /0'= )+ ='0&*6?' 0+/(= 60 )B' 1#5%=#/ ?17@A FB' B67B'* )B' ='&6?'5 (/,?'*D )B' 7*'8)'* )B'

0+/(= A*'00/*' +( )B' '8* =*/, )B/0 )B' 5+/='* )B' 0+/(="

2S #6)&B T %'*)M R%MS T 8 /(6) +: ,'80/*' :+* 0+/(= :*'G/'(&>" U(' %M V +(' &>&5' A'* 0'&+(=" FB' ,+*'&>&5'0 A'* 0'&+(=D )B' :80)'* )B' '8*=*/, @6?*8)'0D )B' B67B'* )B' 0+/(= A6)&B" FB' B/,8( '8* &8(A'*&'6@' 0+/(=0 !6)B :*'G/'(&6'0 *8(76(7 :*+, 23 %M /A )+ 23333 %M"

%/,8( '8*0 =60)6(7/60B +(' 0+/(= :*+, 8(+)B'* ?> 6)0 5+/=('00 8(= A6)&B" !"#$%&'' )' *+& ,-./)*#$& "0,-"#%* "1 '"#%$ &%&023 4$56 0&,7+)%2 "#0 &,0'8 9)*7+ )' *+& '.&&$ "1 *+& :);0,*)"%' "0 10&


3/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2 +: ;9

)$&%*)13 *+& '"#07& "1 , '"#%$8 %+!'@'*D ?+)B )B' 5+/=('00 8(= A6)&B ,8> @8*> ='A'(=6(7 /A+( !B'*' !'8*' 5+&8)'= *'58)6@' )+ )B' 0+/(= 8(= )B' 0/**+/(=6(7 '(@6*+(,'()" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6-1 B$#C6#-5D

FB' :*'G/'(&> +: 8 0+/(= !8@' 60 )B' (/,?'* +: )6,'0 )B8) 6)0 ?806& A8))'*( *'A'8)0 6)0'5: A'* 0'&+(=" +: 9233 %'*)M"

FB' :*'G/'(&> T &>&5'0 A'* 0'&+(= T +: 8 0+/(= 60 'JA*'00'= 6( B'*)M T => " FB' :*'G/'(&> &8( ?' 'JA*'00'=80

1 ? @ A B WB'*'

1 V :*'G/'(&> R0T9

D %MS

B V )6,' :+* &+,A5')6(7 +(' &>&5' R0S

EF0GH/#

.85&/58)' )B' )6,' +: +(' &>&5' :+* 8 X33 %M )+('"

B V 9 Q RX33 %MS

V 3"332 0

C"*&D E"#%$ ,%$ %")'& #'#,//3 ,0& !"# .#0& *"%&'" #/*' )+(' 60 ='0&*6?'= 80 8 06,A5' @6?*8)6+( +: 06(75':*'G/'(&>"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

I0"#/#-8.J

FB' !8@'5'(7)B +: 0+/(= 60 )B' =60)8(&' ?')!''( 8(85+7+/0 A+6()0 +: )!+ 0/&&'006@' !8@'0 +* 60 )B'=60)8(&' )B' 0+/(= )*8@'50 6( +(' &>&5' )6,'" B+& +)2+&0 *+& 10&


4/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z +: ;9

G ? 4 ZZ9"2 ,Q0S A RX33 %MS

V 3"442 ,

P+)'[ FB' @'5+&6)> 60 )B' =60)8(&' ,+@'= ?> )B' 0+/(= !8@' A'* 0'&+(= 6( 8 :6J'= =6*'&)6+( 6"'" @ V : J \

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

:(6-1 K($ 0-1 :(6-1 K$#++6$#

FB' =6::'*'(&' ?')!''( 0+/(= A+!'* 8(= 0+/(= A*'00/*' 60 &*6)6&85 )+ )B' /(='*0)8(=6(7 +: 8&+/0)6&0"

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

W8)) 8(= )B60 &+**'0A+(=0 )+ 3=_"

• FB' 5+!'0) 0+/(= A*'00/*' A+006?5' )+ B'8* 60 8AA*+J6,8)'5> 2 Y93TX

#8 R23 ,6&*+ #80&85S 8(= )B60&+**'0A+(=0 )+ 3 =_"

FB' )B*'0B+5= +: A86( 6( )B' '8* &+**'0A+(=0 )+ A*'00/*' :5/&)/8)6+(0 +: 8?+/) 233 #8" FB60 @85/' 60 )'(,6556+( )6,'0 )B' )B*'0B+5= +: B'8*6(7"

`````````````````````````````````````````````````````````````````````````````````````

L#0+6$# () :(6-1 M 6(7 8 0+/(= !6)B A+!'* W 9D 8(= 8(+)B'*A58>6(7 8 5+/='* @'*06+( +: )B' 08,' 0+/(= !6)B A+!'* W2D ?/) '@'*>)B6(7 '50' RB+! :8* 8!8>D :*'G/'(&>SL'A) )B' 08,'"

B+& $)11&0&%7& )% $&7);&/' ;&*F&&% *+& *F" )' $&1)%&$ *" ;&

93 5+7 RW2QW9S =_ !B'*' )B' 5+7 60 )+ ?80' 93"

I: )B' 0'&+(= A*+=/&'0 )!6&' 80 ,/&B A+!'* )B8( )B' :6*0)D )B' =6::'*'(&' 6( =_ 60

93 5+7 RW2QW9S V 93 5+7 2 V Z =_"


5/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' b +: ;9

I: )B' 0'&+(= B8= 93 )6,'0 )B' A+!'* +: )B' :6*0)D )B' =6::'*'(&' 6( =_ !+/5= ?'

93 5+7 RW2QW9S V 93 5+7 93 V 93 =_"

I: )B' 0'&+(= B8= 8 ,6556+( )6,'0 )B' A+!'* +: )B' :6*0)D )B' =6::'*'(&' 6( =_ !+/5= ?'

93 5+7 RW2QW9S V 93 5+7 9333333 V 43 =_"

FB60 'J8,A5' 0B+!0 +(' :'8)/*' +: ='&6?'5 0&85'0 )B8) 60 /0':/5 6( =60&/006(7 0+/(=a )B'> &8( ='0&*6?' @'*>?67 *8)6+0 /06(7 (/,?'*0 +: ,+='0) 06M'" _/) (+)' )B8) )B' ='&6?'5 ='0&*6?'0 8 0,*)"a 0+ :8* !' B8@' (+) 086=!B8) A+!'* '6)B'* +: )B' 0A'8L'*0 *8=68)'0D +(5> )B' *8)6+ +: A+!'*0"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6-1 K($ N#"#/ ?N&@

8 0+/*&' )+ 8 *':'*'(&' 0+/(=0+/*&' 8(= 60 'JA*'00'0 6( =_ 80 8 *8)6+ *'58)6@' )+ 0+,' *':'*'(&' 5'@'5 !B6&B 60 )B*'0B+5= +: B'8*6(7 e

93T92

W

d! V 93 5+793 RW 0+/*&' Q W *': S

WB'*'a

9S d! 60 0+/(= A+!'* 5'@'5 6( ='&6?'5 R=_S2S W *': 60 93

T92 WH

ZS W 0+/*&' 60 0+/(= A+!'* 6( W

M1 '"#%$ ."F&0 )%70&,'&' ;3 , 1,7*"0 "1 NH *+)' )' & 60 'G/85 )+ )B' *':'*'(&' 5'@'5" 6"'"D 6) 60 )B' 0+/(= 5'@'5&+**'0A+(=6(7 )+ 3"32 ,#8" I( )B60 &80' !' B8@'


6/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' X +: ;9

6( 855 =6*'&)6+(0 8(= !B'*' )B'*' 60 +(5>+(' A8)B :*+, )B' 0+/*&' )+ )B' *'&'6@'*" I( 8 *++,D )B'*' 8*' 8 @'*> 58*7' (/,?'* +: A+006?5' A8)B0 :*+,)B' 0+/*&' )+ )B' *'&'6@'*D 6(@+5@6(7 @8*6+/0 *':5'&)6+(0 +:: )B' *++, ?+/(=8*6'0H )B' &+,?6(8)6+( +: 855 )B'0'A8)B0 =')'*,6('0 B+! 0+/(= ?'B8@'0 6( )B' *++," O0 8 *'0/5)D 0+/(= 5'@'50 6( 8 *++, =+ (+) &+()6(/' )+='&*'80' !6)B 6(&*'806(7 =60)8(&' :*+, )B' 0+/*&' :+* 855 =60)8(&'0"

O @6?*8)6(7 0/*:8&'D 0/&B 80 )B' +(' 0B+!( ?'5+! !655 ',6) 0+/(= !8@'0 (+) +(5> 6( :*+() 8(= ?'B6(= )B'0/*:8&' ?/) 850+ 6( 855 =6*'&)6+(0" P'8* )+ )B' 0/*:8&'D !B6&B 60 ',6))6(7 )B' 0+/(=D )B' 0B8A' +: )B' 0+/(=!8@' 8AA*+J6,8)'0 )+ )B' 0B8A' +: )B' 0/*:8&' ?/) 80 )B' A*'00/*' !8@'0 'JA8(= )B'> !655 ?'&+,' @6*)/855>0AB'*6&85"

1+0) +: )B' 6(=6@6=/85 0+/*&'0 +: 0+/(= ',6) 0+/(= 6( 855 =6*'&)6+(0 ?/) ,8> ',6) 0+/(= !6)B 7*'8)'*6()'(06)> 6( +(' =6*'&)6+( T 'J8,A5'0 ?'6(7 )B' B/,8( @+6&' 8(= !6(= 6(0)*/,'()0" FB60 ,'8(0 )B8) )B''JA8(=6(7 0+/(= !8@'0D )B+/7B 0AB'*6&85D ,8> @8*> 6( 6()'(06)> 6( =6::'*'() A8*)0 +: )B'6* :*+()85 8*'8"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

IJ0. G#0+6$#G#-.+ 0$# 6+#)6/>

c5/&)/8)6(7 A*'00/*'0 )B8) 8*' 6( )B' :*'G/'(&> *8(7' +: 23T23D333 %M &8( ?' &58006:6'= 80 8/=6?5' 0+/(=:+* )B' B/,8( '8*" FB' B/,8( '8* 60 ,+*' 0'(06)6@' )+ 0+/(= 6( )B' :*'G/'(&> *8(7' 9333%M )+ b333 %M)B8( )+ 0+/(= 8) @'*> 5+! +* B67B :*'G/'(&6'0" B+)' -&,%' *+,* *+& %")'& ,* +)2+ "0 /"F 10& =6::'*'()0+/(= A*'00/*'0 8(= 0+/(= A*'00/*' 5'@'50 !B'( )B' 0+/*&' 60 A58&'= 6( =6::'*'() '(@6*+(,'()0"

I) 60 ,/&B ,+*' /0':/5 )+ L(+! )B' 8,+/() +: 0+/(= A+!'* A*+=/&'= ?> 8 0+/*&' )B8( )+ L(+! )B' 0+/(=A*'00/*' ,'80/*'= /(='* 0+,' A8*)6&/58* &+(=6)6+(H +(' 0B+/5= 0)*6@' )+ +?)86( 0+/(= A+!'* *8)6(70 +: 855


7/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 4 +: ;9

A+)'()685 (+60' 0+/*&'0 8) )B' ='067( 0)87'" FB' 8&+/0)6& '(76(''* ,/0) )8L' )B60 6()+ 8&&+/() !B'(0A'&6:>6(7 (+60' 5'@'50"

`````````````````````````````````````````````````````````````````````````````````````

;-"#$+# :C60$# N0&

1+0) ,'80/*6(7 6(0)*/,'()0 ,'80/*' )B' 8@'*87' +: )B' 8&+/0)6& A*'00/*' +@'* )B' )6,' A'*6+= +: )B'!8@'"FB'+*')6&855>D )B' A+!'* 6( 8 0+/(= !8@' 7+'0 80 )B' 0G/8*' +: )B' A*'00/*' R06,658* )+ !B8) '5'&)*6&85A+!'* 7+'0 80 )B' 0G/8*' +: )B' @+5)87'S" FB' 5+7 +: )B' 0G/8*' +: J 60 K/0) 2 5+7 JD 0+ )B60 6()*+=/&'0 8:8&)+* +: 2 !B'( !' &+(@'*) )+ ='&6?'50 :+* A*'00/*'0" FB' =6::'*'(&' 6( 0+/(= A*'00/*' 5'@'5 ?')!''( )!+0+/(=0 !6)B A9 8(= A2 60 )B'*':+*'a

!. ? 93 5+7 RA22QA9

2S =_ +*

!. ? 23 5+7 RA2QA9S =_

FB' 0+/(= 5'@'50 ='&*'80' 4 =_ :+* '8&B =+/?56(7 +: =60)8(&' :*+, )B' 0+/*&'" FB'*' 8*' B+!'@'* 5+)0 +:)B6(70 )B8) B8@' )+ ?' )8L'( 6()+ 8&&+/() 8(= /(='*0)++= ?':+*' 8(> ,'80/*','() !+/5= ?' ,'8(6(7:/5"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

4P%8J.#1 L#0+6$#G#-.Q 17 4

%/,8( '8* 60 'J)*','5> &5'@'* ?/) 6) =+'0 B8@' 6)0 56,6)8)6+(0" I: )B' '8* !'*' )+ ?' A*'0'()'= !6)B 6='()6&850+/(= A*'00/*'0 ?/) 8) =6::'*'() :*'G/'(&6'0 6) !+/5= A'*&'6@' )B', )+ ?' 8) 8 =6::'*'() 5+/=('00" FB60 60?'&8/0' )B' B/,8( B'8*6(7 A*+&'00 60 (+) )B' 08,' 8) 855 :*'G/'(&6'0 8(= )B'*':+*' )B' (+60','80/*','()0 8*' +:)'( 8=K/0)'= +* !'67B)'=D 80 8 :/(&)6+( +: :*'G/'(&> )+ 8&&+/() :+* B/,8( A'*&'A)6+(8(= 0'(06)6@6)6'0" 5+/=

RZ2 )6,'0 80 5+/= 80 ;3 =_OS

1656)8*> i') 86*A58(' )8L'+:: 8) X3:'')

933 N'*> 5+/=

Rj )6,'0 80 5+/= 80 ;3 =_OS

• i') :5>+@'* 8) 9333 :'')

• d+&+,+)6@' A800 ?> 8) 933:'')

j3 N'*> 5+/=

R2 )6,'0 80 5+/= 80 ;3 =_OS

• #*+A'55'* A58(' :5>+@'* 8) 9333:'')

• $6'0'5 )*/&L b3 ,AB 8) X3 :'')

;3 1+='*8)'5> 5+/= • c*''!8> 8) X3 :'') :*+,A8@','() '=7' ,+*(6(7 B+/*0

• N8&//, &5'8('* R6(=++*S

43 g'58)6@'5> G/6')

R9Q2 80 5+/= 80 ;3 =_OS

• O6*T&+(=6)6+(6(7 /(6) 8) 933:'')


8/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' ; +: ;9

• $60B!80B'* 8) 93 :'') R6(=++*S

X3 k/6')

R9Qb 80 5+/= 80 ;3 =_OS

• d8*7' )*8(0:+*,'*0

• G/6')

R9Q4b 80 5+/= 80 ;3 =_OS

i/0) 8/=6?5'

3 FB*'0B+5= +: B'8*6(7

`````````````````````````````````````````````````````````````````````````````````````

!5.0"# =0-1+

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

U&)8@' _8(=0 60 8 &+(@'(6'() =6@606+( +: )B' :*'G/'(&> 0&85'" +@'* 8 !6='*8(7' +: :*'G/'(&6'0 8*' =6@6='= 6()+ 0'&)6+(0 &855'= ?8(=0" FB60 :*'G/'(&> *8(7' 60 /0/855> 0'A8*8)'= 6()+'67B) /('G/85 0'7,'()0 &+,,+(5> *':'**'= )+ 4ZD 92XD 2X3D X33D 9333D 2333D b333 8(= j333 %M" WB'( 87*'8)'* :*'G/'(&> *'0+5/)6+( 60 (''='=D 8 /(6) !6)B 5'00 @85/' 0/&B 80 9QZ +&)8@' &8( ?' /0'="

O /(6) ]U&)8@'^ =':6('0 )B' &+(&'A) +: )B'0' :*'G/'(&> *8(7'0 8(= 60 )B' 6()'*@85 ?')!''( )!+ A+6()0 !B'*')B' :*'G/'(&> 8) )B' 0'&+(= A+6() 60 )!6&' )B' :*'G/'(&> +: )B' :6*0)"

F>A6&85 0+/*&'0 6( ?/65=6(70 ',6) 0+/(= 8) ,8(> :*'G/'(&6'0" O 7*8AB 0B+!6(7 )B' '('*7> 8) '8&B:*'G/'(&> 60 &855'= 8 0A'&)*/," FB' ,'80/*','() 6( ?/65=6(7 8&+/0)6&0 0A'&)*8 8*' /0/855> ,8=' 6( +('T)B6*= +&)8@' ?8(=0 :*+, 8?+/) 933 %M )+ b333 %M"

"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

:(6-1 L#0+6$#G#-.+


9/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' j +: ;9

8 ,6&*+AB+('" P+*,855>&+(='(0'* ,6&*+AB+('0 8*' /0'= :+* A*'&606+( 7*8=' 6(0)*/,'()0" /06(7 )B' :65)'*0 8(=8 7*8AB &8( )B'( ?' =*8!( :+* 'J8,A5' 80 0B+!( ?'5+!" FB60 76@'0 8( 6(=6&8)6+( +: 0+/(= 5'@'50 8) =6::'*'():*'G/'(&6'0" FB60 &8( ?' /0':/5 6(:+*,8)6+( 8(= &8( ?' /0'= )+ ='067( 8AA*+A*68)' 8))'(/8)6+( 8(= 8&+/0)6&)*'8),'() 8) A8*)6&/58* :*'G/'(&6'0"

I) !655 ?' 0''( :*+, )B' 8?+@' 7*8AB )B8) )B' ,8J6,/, (+60' +/)A/) +: l3 =_ +&&/*0 8) bm Rb333S %'*)M" O50+ )B' 5+!'0) (+60' 5'@'5 +: X3 =_ +&&/*0 8) 8 :*'G/'(&> +: 4Z %M"

I: 0+/(= 8))'(/8)6+( 60 *'G/6*'= :+* )B' ,8&B6(' 6( )B60 'J8,A5' )B'( )B' '(76(''* !+/5= &+(&'()*8)' 8) )B'B67B :*'G/'(&> (+60' 0A'&)*/, Rbm %MS" FB' 6(0/58)6+( +* A*+A+0'= 8))'(/8)6+( 0>0)', &+/5= ?' )865+*'='0A'&6855> :+* B67B :*'G/'(&> 8))'(/8)6+( *8)B'* )B8( 5+! :*'G/'(&> 8))'(/8)6+("

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

;+ .J# :(6-1 K$#++6$#+ N#"#/+ 011%.%"# )$(G +(6-1+ #G%..%-8 )$(G "0$%(6+ +(6$5#+>

*(

FB' ='&6?'5 @85/'0 +: 0+/(=0 &8( (+) ?' 8=='= +* 0/?)*8&)'= /06(7 )B' (+*,85 8*6)B,')6& */5'0" I(0)'8=D='&6?'5 @85/'0 ,/0) ?' &+(@'*)'= ?8&L 6()+ 8?0+5/)' /(6)0 +: A+!'* RW8))0SD !B'( )B'> &8( ?' 8=='= +*0/?)*8&)'= =6*'&)5> ?':+*' *'T&+(@'*)6(7 ?8&L 6()+ ='&6?'50"

I: P 0+/*&'0 7'('*8)6(7 )B' 08,' 0+/(= A*'00/*' 5'@'5 8*' &+,?6('=D )B' +@'*855 0+/(= A*'00/*' 5'@'5 !655?' 6(&*'80'= ?> 93 5+7 P =_" F!+ 0+/(=0 !6)B 8@'*87' 5'@'50 +: 43 =_D :+* 'J8,A5'D !655 )+7')B'* &*'8)' 80+/(= A*'00/*' 5'@'5 +: 43 n 93 5+7 2 V 4Z =_ 8(= (+) 923 =_" FB' 7*'8)'* )B' =6::'*'(&' 6( (+60' 5'@'5?')!''( )!+ (+60' 0+/*&'0D )B' 5'00 '::'&) )B'*' 60 +( )B' &+,?6('= 5'@'5" WB'*' )B' =6::'*'(&' ?')!''()!+ 0+/*&'0 60 ,+*' )B8( 4 =_D )B' &+,?6('= 5'@'5 !655 ?' 5'00 )B8( 9 =_ B67B'* )B8( )B' 5+/='* 0+/*&'85+('" FB' )8?5' ?'5+! 0B+!0 )B' 06,A5' 8AA*+J6,8)6+( ,')B+= +: +?)86(6(7 )B' 'G/6@85'() &+,?6('= (+60'5'@'5D !B'( )B' =_ =6::'*'(&' ?')!''( )B' )!+ 5'@'50 60 L(+!("


10/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' l +: ;9


11/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 93 +: ;9

FB' B67B'0) (/,?'* 60 j9D )B' ('J) B67B'* 60 j3H )B' =6::'*'(&' 60 9D )B' 8=='* 60 2"XD )B' &+,?6('= (/,?'*60 jZ"X"

FB' ('J) B67B'* (/,?'* 60 ;4D )B' =6::'*'(&' 60 ;"XD )B' 8=='* 60 "XD 8(= )B' &+,?6('= 0/, 60 jb

FB' ('J) B67B'* (/,?'* 60 ;3D )B' =6::'*'(&' 60 9bD )B' 8=='* 60 3D 8(= )B'*':+*' )B' &+,?6('= (/,?'* :+*)B60 0A'&)*/, 60 jb =_"

M1 *F" '"#%$ /&:&/' ,0& )$&%*)7,/H *+& 7"-;)%&$ '"#%$ )' *+0&& $5 +)2+&0 *+,% &)*+&08 M1 *+& $)11&0&%7& )' @S$5H *+& +)2+&'* '"#%$ /&:&/ 7"-./&*&/3 $"-)%,*&' ,%$ *+&0& )' %" 7"%*0);#*)"% ;3 *+& /"F&0 '"#%$ /&:&/8 `````````````````````````````````````````````````````````````````````````````````````

EC6%"0/#-. *(%+# N#"#/ &%.J Y*Z :(6$5#+ [#-#$0.%-8 .J# :0G# :(6-1 K$#++6$# N#"#/

FB' )8?5' ?'5+! 0B+!0 )B' 06,A5' 8AA*+J6,8)6+( ,')B+= +: +?)86(6(7 )B' 'G/6@85'() &+,?6('= (+60' 5'@'5D!B'( )B' (/,?'* +: 0+/*&'0 B8@6(7 08,' 0+/(= 5'@'5 8*' A/) 6( )B' 08,' *++, R6"'" =6::'*'(&' ?')!''()!+ 0+/(= 5'@'50 60 M'*+S"

*6G=#$ ():(6$5#+

;-5$#0+# %-:(6-1 K($

N#"#/ ?17@

;-5$#0+# %- :(6-1K$#++6$# N#"#/

?17@

2 Z 4

Z b"j l"4

b 4 92

X ; 9b

93 93 23

9X 99"j 2Z"4

23 9Z 24

O0 8( 'J8,A5'D 6: +(' :8( B80 8 0+/(= 5'@'5 +: X3=_D 8(= 8(+)B'* 06,658* :8( 60 8=='=D )B' &+,?6('= 0+/(=5'@'5 +: )B' )!+ :8(0 !655 ?' XZ=_" I: )!+ ,+*' :8(0 8*' 8=='=D 6"'" )B' 0+/(= 0+/*&' 60 =+/?5'= 8786(H )B'*'0/5)8() 0+/(= 5'@'5 :*+, 855 :+/* :8(0 !655 ?' X4=_" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

4"#$08# 4=%/%.D .( K#$5#%"# ,J0-8#+ %- *(%+# N#"#/+

A'*&'A)6?5'" FB' 8@'*87' 8?656)> +: 8( 6(=6@6=/85 )+ A'*&'6@' &B8(7'0 6( (+60' 5'@'50 60 !'55=+&/,'()'= R0'' )8?5' ?'5+!S" FB'0' 7/6='56('0 A'*,6) =6*'&) '0)6,8)6+( +: 8( 6(=6@6=/85f0 A*+?8?5'A'*&'A)6+( +: &B8(7'0 6( (+60' 5'@'50" T' , 2&%&0,/ 0#/&H ,% )%70&,'& "0 $&70&,'& "1 @S $5T )% %")'& /&:&/ )' .&07&):&$ ;3 ,% ";'&0:&0 *" ;& , $"#;/)%2 "0 +,/:)%2 "1 *+& '"#%$H 0&'.&7*):&/38

4"#$08# 4=%/%.D .( K#$5#%"# ,J0-8#+ %- *(%+# N#"#/+

,J0-8# ?17 4@ 26G0- K#$5#H.%(- () :(6-1

2TZ _8*'5> A'*&'A)6?5'


12/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 99 +: ;9

X g'8=65> (+)6&'8?5'

93 O =+/?5' +* B85@6(7 +: )B' 5+/=('00 +:0+/(=

23 O =*8,8)6& &B8(7'

b3 $6::'*'(&' ?')!''( 8 :86()5> 8/=6?5'0+/(= 8(= @'*> 5+/= 0+/(=

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6-1 ;-.#-+%.D

RWQ,2S

ZS M 0&1 V 93T92

TTTTT *':'*'(&' 0+/(= 6()'(06)> RWQ,2S

FB' 5+78*6)B,6& 0+/(= 6()'(06)> 5'@'5 0&85' ,8)&B'0 )B' B/,8( 0'(0' +: B'8*6(7"

$+/?56(7 )B' 6()'(06)> 6(&*'80'0 )B' 0+/(= 5'@'5 !6)B Z =_ R93 5+7 R2SS"

EF0GH/#

FB' =6::'*'(&' 6( 6()'(06)> +: 93Tj

!8))0Q,2 8(= 93

Tb !8))0Q,

2 R93D333 /(6)0S &8( ?' &85&/58)'= 6( ='&6?'50 80

W!M V 93 5+7 RR93Tb

!8))0Q,2S Q R93

T92!8))0Q,

2SS

T 93 5+7 RR93Tj

!8))0Q,2S Q R93

T92!8))0Q,

2SS

V b3 =_

I(&*'806(7 )B' 0+/(= 6()'(06)> ?> 8 :8&)+* +:

• 93 *860'0 6)0 5'@'5 ?> 93 =_

• 933 *860'0 6)0 5'@'5 ?> 23 =_

• 9D333 *860'0 6)0 5'@'5 ?> Z3 =_

• 93D333 *860'0 6)0 5'@'5 ?> b3 =_ 8(= 0+ +(

%"#&' B+& '"#%$ )%*&%')*3 /&:&/ -,3 ;& $)11)7#/* *" -&,'#0&H )* )' 7"--"% *" #'& V'"#%$ .0&''#0& /&:&/P-&,'#0&$ )% $&7);&/' )%'*&,$8

999999999999999999999999999999999999999999999999999999999999999999999999999999999999:(6-1 ;-.#-+%.D 0-1 :(6-1 K$#++6$#

FB' &+(('&)6+( ?')!''( +: 86* RL7Q,ZS 8) 23

+.


13/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 92 +: ;9

7 V Zb3 e 0A''= +: 0+/(= R,Q0S

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6-1 K($Q ;-.#-+%.D 0-1 ='&*'80'0 !6)B =60)8(&' )+ 0+/*&'" I()'(06)> 8(= =60)8(&' &8( ?' 'JA*'00'= 80a

M ? !F A Y Z 0

N

WB'*'

!F V 0+/(= A+!'* RWS

Z V Z"9b

0 V *8=6/0 +* =60)8(&' :*+, 0+/*&' R,S

F+ '0)6,8)' )B' '::'&) +: =60)8(&' :*+, 8 0+/(= 0+/*&' )B' */5' +: )B/,? &85&/58)6+( 60 @'*> 06,A5'" !'8L'(0 ?> 4=_ '8&B )6,' )B' =60)8(&' :*+, )B' 0+/(= 0+/*&' 60 =+/?5'= 6"'" 8 0+/(= 5'@'5,'80/*'= 80 43=_ 8) 9 ,')'* !655 ?' Xb=_ 8) 2 ,')'*0 8(= bj 8) b ,')'*0"

#$ q+@'*(,'() g'7/58)6+(0 '(:+*&'= ?> E(@6*+(,'() #*+)'&)6+( O7'(&> RE#OSD U&&/A8)6+( H &*'8)'0 0)*'00 8(= &8( 5'8= )+8&&6='()0"

'$ h(!8()'= (+60' 60 (/608(&'" FB' ,+0) &+,,+( A*+?5', 6( 8 *++, 60 )++ ,/&B '&B+ +* *'@'*?'*8)6+("F++ ,/&B '&B+ &8( 78*?5' 0A''&B &58*6)> 8(= 6()'55676?656)>"

99999999999999999999999999999999999999999999999999999999999999999999999999999


14/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9Z +: ;9

:#5.%(-PV *!;:E NE3EN: ;* 7\;N )B' %NO. 0>0)',0H 2S6()*/06@' (+60' :*+, +/)06=' )B' 0A8&'H 8(= ZS )B' 8&)6@6)6'0 !6)B6( )B' 0A8&'"

FB' 8&&'A)8?656)> +: ?8&L7*+/(= 0+/(= 6( 8 0A8&' ='A'(=0 +( )!+ :8&)+*0"

9S FB60 :6*0) 60 )B' 5+/=('00 +: )B' 0+/(= &+,A8*'= !6)B )B8) +: 8&)6@6)6'0 6( )B' 0A8&'" I: 6) 60 &5'8*5>

=60&'*(6?5' 8?+@' (+*,85 8&)6@6)>D )B'( 6) &8( ,8L' 0A''&B &+,,/(6&8)6+( +* &+(&'()*8)6+( =6::6&/5)"

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

,80L6(7 60 '00'()685" FB'*':+*'D )B' 0>0)', 0+/(= &+()*+5 *'G/6*','()0 @8*> ='A'(=6(7 +( )B' /0' +: )B'0A8&'"

FB' 6='85 ?8&L7*+/(= 0+/(= 0B+/5= ?'a

! _858(&'= =60)*6?/)6+( +: 0+/(= '('*7> +@'* 8 ?*+8= :*'G/'(&> *8(7' !6)B (+ =+,6(8() ?8(= +: (+60'

! D !6)B :'! :5/&)/8)6+(0 6( 5'@'5 0/&B 80 )B*+??6(7 +* A/506(7

O) A*'0'() (+ 8&&'A)8?5' A*+&'00 '8065> &B8*8&)'*6M'0 )B' '::'&)0 +: 8/=6?5' )+('0 8(= 5'@'5 :5/&)/8)6+(0"FB' A*':'**'= 0+/(= *8)6(7 ,')B+=0 7'('*855> 6(&5/=' )B' OT!'67B)'= 0+/(= A*'00/*' 5'@'5 =_O 8(= (+60'&*6)'*68 P. &/*@'0 R+* E/*+A'8( A*'=+,6(8() P+60' *8)6(7 Pg &/*@'0SD 8(= )B' ,+*' *'&'() *++, &*6)'*68g. 8(= ?858(&'= (+60' &*6)'*68 P._" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

4P%8J.#1 17 ?4@Q ?N4@

FB' 0+/(= 5'@'5 6( 8( +&&/A6'= 0A8&' &8( ?' ,'80/*'= =6*'&)5> !6)B 8 0+/(= 5'@'5 ,')'* !B6&B ,'80/*'0)B' 0+/(= A*'00/*' 5'@'5 8) )B' ,6&*+AB+(' 5+&8)6+(" FB' =? ROSD 60 8 !'67B)'= ,')B+= &+,A'(08)6(7 :+*)B' B/,8( 0'(0' +: 0+/(= A*'00/*' 8) =6::'*'() :*'G/'(&6'0" FB' ,86( 8=@8()87'0 !6)B )B' O T!'67B)6(78*'a

9S 6) 60 8=8A)'= )+ )B' *'0A+(0' +: )B' B/,8( '8* )+ 0+/(=

2S 6) 60 A+006?5' )+ ,'80/*' '8065> !6)B 5+! &+0) 6(0)*/,'()0

6( )B' ,6=T:*'G/'(&6'0" _/) 6: >+/ )8L' *'8=6(70 6( =_O )B'*' ,8> ?' 8B/7' 5+! :*'G/'(&> &+,A+('() B8AA'(6(7 )B8) >+/ =+(f) L(+! 8?+/)D ?'&8/0' =_O 60 8 !'67B)'= 8@'*87'"FB'*':+*' ,'80/*6(7 8@'*87' 0A'&)*8D 0/&B 80 =_OD )>A6&855> =+'0(f) )'55 )B' !B+5' 0)+*> 8(= )B' =8)8 60

,'8(6(75'00 )+ 8(>+(' )*>6(7 )+ 0+5@' )B' A*+?5'," I: >+/ !8() )+ L(+! !B8)f0 7+6(7 +(D >+/ B8@' )+ )8L'0+/(= 5'@'5 80 8 :/(&)6+( +: :*'G/'(&> +* +&)8@' ?8(=D 8(= )B8) )8L'0 8 0A'&)*/, 8(85>M'*" FB'( >+/ &8(=+ =687(+0)6&0"

WB'*' 8 ,+*' =')865'= A*+&'=/*' 60 *'G/6*'=D )B' (+60' &*6)'*68 RP.S *8)6(7 A*+&'=/*'D *'G/6*6(7,'80/*','()0 6( +&)8@' ?8(=0D 60 (+*,855> /0'=" """""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

IJ0. %+ *(%+# ,$%.#$%(- M *, "0/6#+>


15/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9b +: ;9

FB'0' 8*' 06(75' :67/*' 'JA*'006+(0 +: 0A'&6:6& A*'00/*' 5'@'50 8) )B' :*'G/'(&6'0 ,8L6(7 /A )B' +&)8@'?8(=" P. 5'@'5 60 8 0)8(=8*= )B8) ='0&*6?'0 )B' *'58)6@' 5+/=('00 +: 8 0A8&'D 'J8,6(6(7 8 *8(7' +::*'G/'(&6'0 R*8)B'* )B8( 06,A5> *'&+*=6(7 )B' ='&6?'5 5'@'5S"

P.T5'@'50 *':'* )+ )B' &+(0)8()D &+()6(/+/0 ?8&L7*+/(= (+60' A'*&'6@'= 6(06=' )B' 0A8&' 80 +AA+0'= )+ 8(>6()'*,6))'() (+60' :*+, 8&)6@6)6'0 +&&/**6(7 !6)B6( )B' 0A8&'" P. 0B+/5= ?' &+(06='*'= :+* 8(> A*+K'&) !B'*''J&'006@' (+60' !+/5= ?' 6**6)8)6(7 )+ )B' /0'*0D '0A'&6855> !B'*' 0A''&B 6()'55676?656)> 60 6,A+*)8()" FB'*'

8*' 8 :'! 0A8&'0 !B'*' 0A''&B 6()'55676?656)> 60 8?0+5/)'5> &*/&685D 6(&5/='0 *'&+*=6(7 0)/=6+0D 5'&)/*' B8550DA'*:+*,8(&' B8550D &+/*)*++,0D 56?*8*6'0 8(= '=/&8)6+(85 :8&656)6'0" c+* +)B'* 8*'80D 0/&B 80 ,8&B6(' 0B+A0+* L6)&B'(0D 6) 60 (+) '00'()685 )+ ,86()86( 8 A8*)6&/58*5> 5+! P. 5'@'5"

C")'& \0)*&0)"% 4C\6 )' *+& -"'* 7"--"% -&*+"$ #'&$ )% C"0*+ T-&0)7, )+ 0A'&6:> ,8J6,/, 0+/(=A*'00/*' 5'@'50 6( *++,0" P. 60 A8*)6&/58*5> /0'= 6( %'8)6(7D N'()658)6(7 8(= O6* .+(=6)6+(6(7 R%NO.S !+*L HF)*+ ,% C\IO] ;&)%2 *+& -"'* 7"--"% 0& (+60' 0+/*&' 80 :+55+!0H

*(%+# :(6$5# :H#5.$6G

!5.0"# 70-1 ,#-.$#B$#C6#-5D ?2]@

4Z 92X 2X3 X33 9m 2m bm jm

L#0+6$#1 :(6-1 N#"#/+ ?17@ ^_ ^X ^` ^V ab ac aa aU

FB' (+60' 0+/*&' 60 A5+))'= +( )B' P. &/*@'0 ?'5+!"

FB' &5+0'0) :6) P. &/*@' )+ )B' (+60' 0+/*&' 60 P. Xj"


16/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9X +: ;9

c+* 7'('*85 +::6&' 8AA56&8)6+(D )B' *'&+,,'(='= P. @85/'0 60 ZXTbXD )B'*':+*' 6: 08> P. b3 60 &B+0'(D )B'()B' 8,+/() +: 6(0/58)6+( 8) '8&B :*'G/'(&> &8( ?' &85&/58)'="

*(%+# :(6$5# :H#5.$6G

U&)8@' _8(= .'()*'

c*'G/'(&> R%MS4Z 92X 2X3 X33 9m 2m bm jm

1'80/*'= 8&&'A)'= ,')B+= +: *8)6(7 )B' 0/?K'&)6@' 8&&'A)8?656)> +: )B' 0A'&)*85 8(= )6,'T@8*>6(7 &B8*8&)'*60)6&0 +:8,?6'() 0+/(=0" I( :8&)D 8,?6'() (+60' B8@6(7 'J8&)5> 8( P. 0A'&)*/, 60 56L'5> )+ ?' ='0&*6?'= 80 ?+)B


17/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 94 +: ;9

*/,?5> 8(= B600>D 8(= !655 A*+?8?5> &8/0' 0+,' 8((+>8(&'" P. *8)6(70 8*' +:)'( /0'= )+ '0)8?560B,8J6,/, (+60' 5'@'50 800+&68)'= !6)B %NO. ,8&B6('*>"

I( 8==6)6+(D P. =+'0 (+) 8&&+/() :+* 0+/(= 8) @'*> 5+! :*'G/'(&6'0" FB' P. &/*@'0 8*' +(5> =':6('= )+ 4Z%M ?/) %NO. 0>0)',0 +:)'( B8@' (+60' 6( )B' 94 8(= Z9"X %M ?8(=0" WB65' P. 60 8 7*'8) 6,A*+@','()+@'* A*'@6+/0 06(75' (/,?'* =_O *8)6(70D 6) 76@'0 56))5' 6(=6&8)6+( +: )B' ]G/856)>^ +: )B' 0+/(=" FB'0'=*8!?8&L0 5'8= )+ )B' ='@'5+A,'() +: +)B'* *8)6(7 ,')B+=0 0/&B 80 )B' g.D P._D 8(= g. 18*L II"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

d((G ,$%.#$%0 ?d,@

FB' *++, &*6)'*6+( Rg.S 60 )B' ,+0) !6='5> /0'= ,')B+= )+ '@85/8)' 'J60)6(7 ,'&B8(6&85 0>0)',0 8(= )+'0)8?560B ='067( 7+850 :+* ('! %NO. 0>0)',0" FB' g. ,')B+= ,'80/*'0 ?8&L7*+/(= 0+/(= 6( 8 ?/65=6(7+@'* )B' :*'G/'(&> *8(7' +: 94 %M )+ b333 %M 8(= *'G/6*'0 )!+ 0)'A0a =')'*,6(6(7 )B' ,6=T:*'G/'(&>8@'*87' 5'@'5 8(= =')'*,6(6(7 )B' A'*&'6@'= ?858(&' ?')!''( B67B 8(= 5+! :*'G/'(&> 0+/(=" FB','80/*','() @85/'0 8*' )8L'( 6( ,% #%"77#.)&$ 0""-8

FB' g. *8)6(7 0>0)', ',A5+>0 )!+ ='0&*6A)+*0H 8 (/,?'* ='0&*6A)+* !B6&B *'A*'0'()0 )B' 0A''&B6()'*:'*'(&' 5'@'5 +: )B' 0A'&)*/, 8(= 8 5'))'* ='0&*6A)+*D !B6&B *'A*'0'()0 )B' 0/?K'&)6@' G/856)> +: )B'0+/(= )+ 8 )>A6&85 560)'('*" c+/* ]k/856)>^ 5'))'* ='067(8)6+(0 &/**'()5> 6( /0' 8*'a9S ]g^ T g/,?5'H 2S ]%^ T%600H ZS ]N^ TN6?*8)6+( R8&+/0)6&855> 6(=/&'=S 8(= bS ]P^ T P'/)*85

A*+@6=' 0A''&B A*6@8&> 6( +A'(TA58( +::6&'0D !B65'8 @85/' ?'5+! ZX =+'0 (+)" O?+@' g.ebXD )B' 0+/(= 60 56L'5> )+ 6()'*:'*' !6)B 0A''&B &+,,/(6&8)6+(" FB'

FB' 5'))'* ='0&*6A)6+( 60 =')'*,6('= ?> 8(85>M6(7 )B' 5+! 8(= B67B :*'G/'(&> 0A'&)*8 &+,A8*'= )+ 8 56('=*8!( !6)B 8 TX =_ 05+A' A'* ?8(= )B*+/7B )B' (/,'*6&85 g. A+6() p 9D333 %M" FB60 '0)8?560B'0 )B' D 6: 8(> +: )B' ?8(=0 :*+, Z9"X %M )B*+/7B 2X3 %M 8*' X =_ +* ,+*' B67B'*)B8( )B' g. &/*@'"

&S FB' 0+/(= 60 *8)'= 80 8 B600D 6: )B' 2D333T +: bD333T%M ?8(=0 8*' 7*'8)'* )B8( Z =_ 8?+@' )B' g.

&/*@'"g. ,')B+= 60 8 A*':'**'= *8)6(7 0>0)', 8=@+&8)'= ?> O,'*6&8( 0)', B8=)B*'' A/*A+0'0a 8S )+ 'J)'(= )B' *8)6(7 0>0)', =+!( )+ 94 %MH ?S )+ /A=8)' )B' P. &/*@'0 )+ ,+*' ,+='*('G/85 5+/=('00 &+()+/*0D 8(= &S )+ 7') 8!8> :*+, )B' )8(7'()685 ,')B+= +: )B' P. &/*@'0" FB'0' &*6)'*688*' 855 0A'&6:6'= 6( OP


18/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9; +: ;9

FB' P+60' g8)6(7 RPgS e &/*@'0 !'*' ='@'5+A'= ?> )B' I()'*(8)6+(85 U*78(6M8)6+( :+* m6)&B'(0 6( B+0A6)850 8(= B+)'50D 58/(=*> *++,0D&+,A/)'* *++,0D &8()''(0D 0/A'*,8*L')0D +::6&'58(=0&8A'D ')&"

b3 T X3 bX bX T XX

````````````````````````````````````````````````̀ ``````````````````````````````````````````````

!$80-%]0.%(-+ .J0. :#. .J# [6%1#/%-#+

FB'*' 8*' )B*'' A*6,8*> +*78(6M8)6+(0 )B8) *'&+,,'(= 7/6='56('0 :+* ?8&L7*+/(= 0+/(= 5'@'50 :+* 6()'*6+*0A8&'0a )B' O,'*6&8( P8)6+(85


19/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9j +: ;9

2S c+* 5'8*(6(7 0A8&'0 !6)B @+5/,'0 ,+*' )B8( 23D333 :)ZD +('TB+/* 8@'*87' (+60' 5'@'50 0B+/5= (+)

'J&''= b3 =_O"

FB' ,8J6,/, *'@'*?'*8)6+( )6,'Y 60 80 :+55+!0a

9S c+* 5'8*(6(7 0A8&'0 !6)B @+5/,'0 5'00 )B8( 93D333 :)ZD )B' *'@'*?'*8)6+( )6,' 0B+/5= (+) 'J&''= 3"4

0'&+(=0"

2S c+* 5'8*(6(7 0A8&'0 !6)B @+5/,'0 ,+*' )B8( 93D333 :)Z ?/) 5'00 )B8( 23D333 :)ZD )B' *'@'*?'*8)6+( )6,'0B+/5= (+) 'J&''= 3"; 0'&+(=0"

FB'0' 8*' )B' A*6,8*> :8&)+*0 +: )B' OP *8(7' +: 94 %M )+ b333 %M" FB60 *8)6(7 0>0)', *'G/6*'0 )!+ 0)'A0a =')'*,6(6(7 )B' ,6=T:*'G/'(&>8@'*87' 5'@'5 8(= =')'*,6(6(7 )B' A'*&'6@'= ?858(&' ?')!''( B67B 8(= 5+! :*'G/'(&> 0+/(=" FB' *++,&*6)'*6+( Rg.S 60 ,+0)5> /0'= :+* 8&+/0)6&85 ='067( +: %NO. 0>0)',0" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

;-.#$-0.%(-0/ 76%/1%-8 ,(1#+ ?;7,@

I_. 60 ?'6(7 8=+A)'= 8&*+00 )B' h" (+60' 5'@'506(06=' *'06='(&'0 6( )'*,0 +: =_ ROS +: P." F>A6&85 &+=' @85/'0 8*' b3 )+ bX =_ ROS 8(= P.TZX"

`````````````````````````````````````````````````````````````````````````````````````

E6$(H#0- :.0-10$1+

FB' E/*+A'8( .+,,6006+( B80 A/?560B'= 06(&' 9lj4 8 =6*'&)6@' Rj4Q9jjQEE.D U::6&685 P'!0A8A'* +: )B'E. d9Z;Q2jQ2b"X"j4S :+* )B' A*+)'&)6+( +: !+*L'*0 :*+, )B' =8(7'*0 *'0/5)6(7 :*+, )B' 'JA+0/*' )+ (+60' 6()B'6* !+*L6(7 '(@6*+(,'()" FB' ,+0) 6,A+*)8() I()'*(8)6+(85 8(= E/*+A'8( 8(='G/6A,'() S" FB' &B8*8&)'*60)6&0 +: ?/65=6(7 ,8)'*6850 8(= )B' ,6(6,/, *'G/6*','()0 :+* ?/65=6(70 8(=

6(=++* 0A8&'0 ='A'(=6(7 +( )B'6* :/(&)6+(D &+(0)*/&)6+( 'J8,A5'0 8(= &85&/58)6+( ,')B+=0D 7/6='56('0 :+*A58((6(7 8(= 'J'&/)6+(D A*+A+0850 :+* 6(&*'80'= 0+/(= 6(0/58)6+(D *'&+,,'(=8)6+(0 :+* 0+/(= 6(0/58)6+( 6(A'*0+(85 56@6(7 8(= !+*L6(7 8*'80D 8*' 0A'&6:6'= ?> )B' q'*,8(


20/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 9l +: ;9

:#5.%(-PX *!;:E D 6) 6(=6&8)'0 B+! 5+(7 6) )8L'0 /()65 )B' 0+/(= A*'00/*' 5'@'5 6( 8*++, 60 ='&*'80'= ?> 43 =_ 8:)'* )B' 0+/(= 0+/*&' 60 )'*,6(8)'="

O 0A8&' !6)B 8 5+(7 *'@'*?'*8)6+( )6,' 60 *':'**'= )+ 80 8 s56@'s '(@6*+(,'()" WB'( 0+/(= =6'0 +/) G/6&L5>!6)B6( 8 0A8&' 6) 60 *':'**'= )+ 80 ?'6(7 8( 8&+/0)6&855> s='8=s '(@6*+(,'()"

• I( 8 ,+*' *':5'&)6@' *++,D 0+/(= &+()6(/'0 )+ *':5'&) +* *'@'*?'*8)' 8(= 6) !655 )8L' 5+(7'* :+* )B'0+/(= )+ =6' 8!8>" FB' '::'&) +: )B60 &+(=6)6+( &8( ?' ='0&*6?'= 80 C56@'C 0A8&' !6)B 5+(7*'@'*?'*8)6+( )6,'"

• I( 8 @'*> 8?0+*?'() *++,D )B' 0+/(= !655 =6' 8!8> G/6&L5> 8(= )B' *++, !655 ?' ='0&*6?'= 80

8&+/0)6&855> C='8=C"

O( +A)6,/, *'@'*?'*8)6+( )6,' ='A'(=0 B67B5> +( )B' /0' +: )B' 0A8&'" c+* 'J8,A5'D 0A''&B 60 ?'0)/(='*0)++= !6)B6( 8 s='8=s '(@6*+(,'()" 1/06& &8( ?' '(B8(&'= !6)B6( 8 s56@'s '(@6*+(,'() 80 )B' (+)'0?5'(= )+7')B'*" $6::'*'() 0)>5'0 +: ,/06& !655 850+ *'G/6*' =6::'*'() *'@'*?'*8)6+( )6,'0"

d#"#$=#$0.%(- W%G#

3"j T 9"Z 9"b T 2"3 2"9 T Z"3 UA)6,/,YY

:H##5J q++= c86* T #++* h(8&&'A)8?5'Y 3"j T 9"9

,(-.#GH($0$D G6+%5 c86* T q++= c86* #++* 9"2 T 9"b

,J($0/ G6+%5 #++* T c86* c86* T q++= q++= T c86* 9"j T 2"3n

Y W6)B 8( 8='G/8)'5> ='067('= 8(= 6(0)855'= 0+/(= 0>0)',D 0A''&B 6()'55676?656)> &+(&'*(0 &8( ?' ,6)678)'="YY FB' +A)6,/, *'@'*?'*8)6+( )6,' &8( ?' 0+,'!B8) 0/?K'&)6@' 8(= &8( 0B6:) ?80'= +( (/,'*+/0 @8*68?5'0"

I) 60 =6::6&/5) )+ &B++0' 8( +A)6,/, *'@'*?'*8)6+( )6,' 6( 8 ,/5)6T:/(&)6+( 0A8&'D 80 =6::'*'() /0'0 *'G/6*'=6::'*'() *'@'*?'*8)6+( )6,'0" O *'@'*?'*8)6+( )6,' )B8) 60 +A)6,/, :+* 8 ,/06& A*+7*8, &+/5= ?' =6080)*+/0)+ )B' 6()'55676?656)> +: )B' 0A+L'( !+*=" .+(@'*0'5>D 8 *'@'*?'*8)6+( )6,' )B8) 60 'J&'55'() :+* 0A''&B &8(&8/0' ,/06& )+ 0+/(= =*> 8(= :58)"

`````````````````````````````````````````````````````````````````````````````````````

B05.($+ ;-)/6#-5%-8 d#"#$=#$0.%(- W%G#

g'@'*?'*8)6+( )6,' 60 8::'&)'= ?> )B' 06M' +: )B' 0A8&' 8(= )B' 8,+/() +: *':5'&)6@' +* 8?0+*A)6@' 0/*:8&'0!6)B6( )B' 0A8&'"

• :%]# () +H05# P g'@'*?'*8)6+( )6,' 60 =6*'&)5> *'58)'= )+ )B' *++, @+5/,'" I( 7'('*85D 58*7'* 0A8&'0B8@' 5+(7'* *'@'*?'*8)6+( )6,'0 )B8( 0,855'* 0A8&'0" FB'*':+*'D 8 58*7' 0A8&' !655 *'G/6*' ,+*'8?0+*A)6+( )+ 8&B6'@' )B' 08,' *'@'*?'*8)6+( )6,' 80 8 0,855'* 0A8&'"

• 4G(6-. () 0=+($H.%"# +6$)05#+ P%67B5> 8?0+*?'() 0/*:8&'0 0B+*)'( )B' *'@'*?'*8)6+( )6,'!B'*'80 B67B5> *':5'&)6@' 0/*:8&'0 5'(7)B'( )B' *'@'*?'*8)6+( )6,'"


21/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 23 +: ;9

c67/*' T9 ?'5+! 76@'0 +A)6,/, *'@'*?'*8)6+( )6,' :+* 0A''&B @'*0/0 *++, @+5/,'" T' *+& 0""- :"/#-&)%70&,'&'H *+& ".*)-#- 0&:&0;&0,*)"% *)-& ,/'" )%70&,'&'8 :+* '8&B *++, @+5/,'"

c67/*' T2 8?+@' 0B+!0 )B' *'0/5)6(7 *8(7' +: 8&&'A)8?5' )+)85 *++, 8?0+*A)6+( R6( ,')*6& 08?6(0S @'*0/0*++, @+5/,' R6( &/?6& ,')*+0S )B8) !+/5= 5'8= )+ )B' ='06*'= +A)6,/, *'@'*?'*8)6+( )6,' !6)B6( n3"90'&+(=" Q&')2%)%2 1"0 , *"*,/ 0""- ,;'"0.*)"% ,' 7/"'& ,' ."'');/& *" *+& -)$$/& "1 *+)' 0,%2& '+"#/$ /&,$ *"%&,0/3 ".*)-#- 7"%$)*)"%' 1"0 '.&&7+8 `````````````````````````````````````````````````````````````````````````````````````

2(& .( 50/56/0.# d#"#$=#$0.%(- W%G#>

FB'*' 8*' 0'@'*85 :+*,/580 :+* &85&/58)6(7 *'@'*?'*8)6+( )6,'H )B' ,+0) &+,,+( :+*,/58 60 )B'


22/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 29 +: ;9

&+'::6&6'() +: 9"3 R933tS" WB'( 8*'80 8*' ,'80/*'= 6( 0G/8*' ,')'*0D )B' )'*, ,')*6& 08?6( 60 /0'=" FB'8?0+*A)6+( :+* 8 0/*:8&' &8( ?' :+/(= ?> ,/5)6A5>6(7 6)0 8*'8 ?> 6)0 8?0+*A)6+( &+'::6&6'()" FB/0 :+* 8 ,8)'*685!6)B 8( 8?0+*A)6+( &+'::6&6'() +: 3"XD 93 :)

2 +: )B60 ,8)'*685 B80 8 0+/(= 8?0+*A)6+( +: X 08?6(0 8(= 933 ,

2D

+: X3 ,')*6& 08?6(0" `````````````````````````````````````````````````````````````````````````````````````

:(6-1 4=+($=%-8 L0.#$%0/+

855+!6(7 0+/(= )+ A800 )B*+/7B)B', *'58)6@'5> '8065>" FB'> 8*' 7'('*855> A+*+/0 8(= 8?0+*? 0+/(= 80 8 *'0/5) +: ,8(> 6()'*8&)6+(0" #+*+/00+/(=T8?0+*?6(7 ,8)'*6850 &8( ?' ,8=' +: 75800 :6?'*D *+&L !++5D +A'( &'55 /*')B8(' :+8,D &5+)B +* +)B'*,8)'*6850 )B8) 8*' A+*+/0 )+ 86* :5+!" B+&'& ,0& 7+,0,7*&0)>&$ ;3 +)2+ ,;'"0.*)"% 7"&11)7)&%*' ,* +)2+10&


23/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 22 +: ;9

c+* 8*&B6)'&)/*85 A/*A+0'0D 0+/(= 8?0+*?6(7 ,8)'*6850 8(= &+(0)*/&)6+(0 &8( ?' =6@6='= 6()+ :+/* )>A'0 +:,8)'*6850 ='A'(=6(7 +( )B' !8> )B' 8?0+*A)6+( 60 ,86(5> A'*:+*,'=a

9S F/*(6(7 )B' 0+/(= '('*7> 6()+ B'8) 0/&B 80 :6?'*75800 8(= &8*A')"

2S N6?*8)6(7 !6)B 8 0A'&6:6& :*'G/'(&> !B'( )B' 0+/(= B6)0 )B' 0/*:8&' 0/&B 80 567B)!'67B) A8('50 8(= XQjs7>A0/, ?+8*=" RFB'0' ,8)'*6850 8?0+*? )B' 0+/(= '::'&)6@'5> +( 8 (8**+! ?8(= +: :*'G/'(&6'0S

ZS F/*(6(7 )B' 0+/(= '('*7> 6()+ B'8) 6( )B' ('&L +: )B' &8@6)6'0 R%'5,B+5)M *'0+(8)+*S 0/&B 80 0+/(=?5+&L0" RFB60 &+(0)*/&)6+( B80 8 7++= 8?0+*A)6+( +( 5+! :*'G/'(&6'0S

bS O55+!6(7 )B' 0+/(= )+ 7+ )B*+/7B 0/&B 80 0+,' )>A'0 +: 7*6= 0>0)',0 8(= 58>T6( &'656(7 !6)B 0+/(=5'8L87' 8?+@' 6)"

`````````````````````````````````````````````````````````````````````````````````````

:(6-1 4=+($=%-8 ,(#))%5%#-. ?:4,@

B+& '"#%$ ,;'"0.*)"% 7"&11)7)&%* )%$)7,*&' +"F -#7+ "1 *+& '"#%$ )' ,;'"0;&$ ;3 *+& -,*&0),/ ":&0 , 0,%2&"1 10&!855 +( 2Jb 0)/=0 B80 8( 8?0+*A)6+( &+'::6&6'() 8) 92X %M +: 3"2l"c67/*' ?'5+! 655/0)*8)'0 )>A6&85 8?0+*A)6+( &+'::6&6'() @85/'0 @'*0/0 :*'G/'(&> :+* 2"X 8(= X"3 &, )B6&LA+*+/0 08,A5'0"


24/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2Z +: ;9

(/,?'*0 :*+, )B60 )'0) 8*' /0/855> 5+!'* 8(= 8*' 850+ (+) 80 *'A*'0'()8)6@' +: *'85T!+*5= 8AA56&8)6+(0 +:,8)'*6850 *'58)6@' )+ )B' *'@'*?'*8)6+( &B8,?'* ,')B+=0"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

d((G 4=+($H.%(- ,J0$05.#$%+.%5+

FB' )+)85 0+/(= 8?0+*A)6+( 6( 8 *++, &8( ?' 'JA*'00'= 80a

T ? E@ b @ a EN b N a888 a E% b % ? c E) b )

WB'*'

T V )B' 8?0+*A)6+( +: )B' *++, R,2 08?6(S

E% V 8*'8 +: )B' 8&)/85 0/*:8&' R,2S

b % V 8?0+*A)6+( &+'::6&6'() +: )B' 8&)/85 0/*:8&'

I) 60 6,A+*)8() )+ (+)' )B8) )B' 8?0+*A)6+( 8(= 0/*:8&' 8*'8 ,/0) ?' &+(06='*'= :+* '@'*> ,8)'*685 !6)B6( 80A8&' 6( +*='* )+ &85&/58)' 08?6(0"

FB' 0+/(= 8?0+*A)6+( &+'::6&6'() &8( ?' 'JA*'00'0 80 )B' *8)6+ +: )B' 8?0+*?'= 0+/(= '('*7> )+ )B'6(&6='() '('*7> +* &8( 850+ ?' 'JA*'00'= 80 8 A'*&'()87'"

b ? M , A M )

WB'*'

M , V 8?0+*?'= 0+/(= 6()'(06)> RWQ,2S

M ) V 6(&6='() 0+/(= 6()'(06)> RWQ,2S

FB' 8?0+*A)6+( &+'::6&6'() @8*6'0 !6)B :*'G/'(&> +: 0+/(= 8(= )B' 8(75' +: 6(&6='(&' +: )B' 0+/(= !8@'0 +()B' ,8)'*685" FB'0' &+'::6&6'()0 8*' (+*,855> =')'*,6('= :+* +('T)B6*= +&)8@' ?8(=0 /(='* 0)8(=8*=&+(=6)6+(0" FB60 A*+@6='0 8( 8@'*87' @85/' :+* '8&B +('T)B6*=T+&)8@' ?8(= 8(= 855 8(75'0 +: 6(&6='(&'" $8)88*' /0/855> 76@'( 8) 06J 0)8(=8*= :*'G/'(&6'0 R92XD 2X3D X33D 9333D 2333 8(= b333 %MSD 85)B+/7B ,+*',+='*( 58?+*8)+*6'0 !655 A*+@6=' =8)8 8) 855 +('T)B6*=T+&)8@' ?8(=0 :*+, 8?+/) 933 %M )+ X333 %M"

O?0+*A)6+( &+'::6&6'()0 8*' /0/855> +?)86('= :*+, ,8(/:8&)/*'*0C 56)'*8)/*' 8(= 8*' /0/855> +?)86('= ?>)'0)6(7 6( 8 *'@'*?'*8)6+( )'0) *++, R8 *++, !B6&B B80 @'*> 5+(7 g'@'*?'*8)6+( F6,'S 8(= )B'( ,'80/*' )B'

gF 0+ )B' &+'::6&6'() &8( ?' ='*6@'= :*+, A6&85*++,0"

http://home.tir.com/~ms/roomacoustics/roomacoustics.html#revhttp://home.tir.com/~ms/roomacoustics/roomacoustics.html#rev


25/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2b +: ;9

WDH%50/ d((G d((G,J0$05.#$%+.%5+

d#"#$=#$0.%(-W%G#

L#0- :(6-14=+($H.%(-,(#))%5%#-.

g8=6+ 8(= FN 0)/=6+ N'*> N'*> %8*= 3"3X 2"X v B , v b"X

FB' ,'8( 0+/(= 8?0+*A)6+( &+'::6&6'() 0B+/5= ?' &85&/58)'= !B'( ,+*' 8&&/*8)' @85/'0 8*' (''='=" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

*(%+# d#165.%(- ,(#))%5%#-. ?*d,@

B+& C_\ )' , ')%2/& %#-;&0 )%$&K "1 0,*)%2 +"F ,;'"0.*):& , -,*&0),/ )'8

EJ8,A5'a u^ 7>A0/, ?+8*= R]=*>!855^S +( 2Jb 0)/=0 B80 8( Pg. +: 3"3X" !855 !655 B8@'5+!'* Pg.0"

O ,8)'*685f0 Pg. 60 8( 8@'*87' +: )B' :+/* 0+/(=T8?0+*A)6+( &+'::6&6'()0 8) 2X3D X33D 9333 8(= 2333 %M*+/(='= )+ )B' ('8*'0) Xt" T -,*&0),/ F)*+ C_\ "1 S8dS F)// ,;'"0; dSe "1 *+& '"#%$ *+,* 7"-&' )%*"7"%*,7* F)*+ )* ,%$ 0&1/&7* NSe "1 *+& '"#%$ ;,7U )%*" *+& '.,7&8

I( 7'('*85D )B' B67B'* )B' (/,?'*D )B' ?'))'* 0B855 ?' )B' 8?0+*A)6+(" Pg. 60 /0':/5 :+* 8 7'('*85&+,A8*60+( +: ,8)'*6850" %+!'@'*D :+* ,8)'*6850 !6)B @'*> 06,658* Pg.0D 6) 60 ,+*' 6,A+*)8() )+ &+,A8*'8?0+*A)6+( &+'::6&6'()0"

`````````````````````````````````````````````````````````````````````````````````````

*d, N%G%.0.%(-+ M IJ0. D(6 +J(6/1 g-(&9S FB' (+60' *'=/&)6+( &+'::6&6'() RPg.S 60 +(5> )B' 8@'*87' +: )B' ,6=T:*'G/'(&> 0+/(= 8?0+*A)6+(

&+'::6&6'()0 R2X3D X33D 9333 8(= 2333 %MS"

2S Pg. 76@'0 (+ 6(:+*,8)6+( 80 )+ B+! 8?0+*A)6@' ,8)'*685 60 +( 5+! 8(= B67B :*'G/'(&6'0"

ZS Pg. =+'0 (+) 8==*'00 ,8)'*685f0 ?8**6'* '::'&)

bS Pg. 06(75' (/,?'* *8)6(7 0>0)', 60 &+(@'(6'() :+* *8(L6(7D )B' 8@'*87' '::'&)6@'('00 +: =6::'*'(),8)'*6850" %+!'@'*D :+* 8 ,+*' &+,A5')' 8&+/0)6&85 ='067(D 6) 60 ('&'008*> )+ &+(06='* 6(=6@6=/85&+'::6&6'()0 8) '8&B :*'G/'(&>"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

:(6-1 W$0-+G%++%(- N(++ ?:WN@

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

FB' )*8(0,6006+( 5+00 RFdS /0/855> 6(&*'80'0 !6)B )B' :*'G/'(&> +: )B' 6(&6='() 0+/(= 8(= 850+ @8*6'0 !6)B)B' =6*'&)6+( +: )B' 0+/(= !8@'0" d8?+*8)+*> ,'80/*','()0 +: )B' Fd +: 8( 800',?5> 8*' ,8=' 6( +('T)B6*=


26/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2X +: ;9

+&)8@' ?8(=0 :*+, 92X )+ b333 %M" I) 60 &+(@'(6'()D B+!'@'*D )+ B8@' 8 06(75' (/,?'* )+ &+,A8*' ?/65=6(7800',?56'0" FB' ='067(8)6+( ,+0) &+,,+(5> /0'= 6( P+*)B O,'*6&8 60 )B' 0+/(= )*8(0,6006+( &5800 R A800'0 )B*+/7B 6)" c+* 'J8,A5'D 5+/= 0A''&B &8( ?' /(='*0)++= :86*5> !'55 )B*+/7B 8( !'55 )B*+/7B 8(


27/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 24 +: ;9

O&+/0)6& !855 )*'8),'() !6)B 8 B67B Pg. &8( 0)+A 0+/(= *':5'&)6(7 ?8&L 6()+ )B' 0A8&'D A+006?5> 5+!'*6(7)B' (+60' 5'@'5 !6)B6( )B' 0A8&' !B'*'80 8&+/0)6& !855 )*'8),'()0 !655 (+) 0)+A 0+/(= :*+, A8006(7 )B*+/7B8(= 6()+ 8( 8=K8&'() 0A8&'H )B'*':+*' )B'> =+ (+) 6,A*+@' )B'


28/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2; +: ;9

:#5.%(- P ` 234, *!;:E ,!*Wd!N

h(!8()'= (+60' ,8L'0 8 !+*LA58&' /(&+,:+*)8?5' 8(= 5'00 A*+=/&)6@'" WB'( A'+A5' 8*' 0/*@'>'= 8?+/)!+*LA58&' &+,:+*)D )B'6* ,+0) A*'@85'() &+,A586()0 6(@+5@' )B' B'8)6(7D @'()658)6(7 8(= 86*T&+(=6)6+(6(7R%NO.S 0>0)',0" FB' A*+?5',0 )B'> &6)' ,+0) :*'G/'()5>D 806=' :*+, )',A'*8)/*' &+()*+5D B8@' )+ =+ !6)B'J&'006@' (+60' 8(= @6?*8)6+("

W6)B ?/65=6(7 0)*/&)/*'0 7'))6(7 567B)'*D =/&) 86* @'5+&6)6'0 6(&*'806(7D ,'&B8(6&85 'G/6A,'() *++,0 R1Eg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

FB' O0)',0"

*(%+# )$(G 3#-.%/0.%(- 0-1 4, :D+.#G+

FB' %NO. (+60' )B8) /5)6,8)'5> *'8&B 56@6(7Q !+*L6(7 G/8*)'*0 8*' ,8=' /A +:

8" d+!T:*'G/'(&> :8( (+60' T :8(0 7'('*855> A*+=/&' 0+/(= 6( 94T%M )B*+/7B 2X3T%M +&)8@' ?8(=0HN8*68?5'T86*T@+5/,' RNONS ?+J'0 (+60' 60 /0/855> 6( )B' 92XT%M )B*+/7B X33T%M +&)8@' :*'G/'(&>?8(=0"

?" 16=T:*'G/'(&> 86*:5+! +* )/*?/5'(&'T7'('*8)'= (+60' T N'5+&6)> (+60' :*+, 86*:5+! 8(= )/*?/5'(&' 6(8 =/&) *8(7'0 :*+, Z9"X %M )B*+/7B 9D333 %M"

&" %67BT:*'G/'(&> =8,A'* 8(= =6::/0'* (+60'0 T $6::/0'* (+60' /0/855> &+()*6?/)'0 )+ )B' +@'*855 (+60'6( )B' 9D333T%M )B*+/7B bD333T%M +&)8@' ?8(=0"

F>A6&85 ,'&B8(6&85 0>0)', (+60' 60 ,8=' /A +: 8 @8*6')> +: (+60' &+,A+('()0" FB'*':+*' )B' %NO.='067('* B80 )+ ='85 !6)B (+60' &+()*+5 8) @8*6+/0 :*'G/'(&6'0" P+60' 6( 8(> %NO. 0>0)', &8( ?' ,'80/*'=80 8 :/(&)6+( +: :*'G/'(&> 6( ='&6?'50D )>A6&855> =6@6='= 6()+ '67B) +&)8@' ?8(=0" FB8) *'0/5) 60 )B'(&+,A8*'= 8786(0) 8 &*6)'*68 &/*@'D 0/&B 80 )B' (+60' &*6)'*6+( RP.S :8,65> +: &/*@'0" ]#*6@8)' +::6&'0 8*'

)>A6&855> ='067('= :+* P. Z3 )+ ZXD !B65' +A'( +::6&'0 8*' ='067('= :+* P. b3 )+ bX" EJA'*6'(&' B80 0B+!()B8) 0+/(= 5'@'50 6( +::6&'0 8?+@' P. bX &8( 0)8*) )+ &*'8)' &+,A586()0"

*(%+# K(%-.+ %- 234, :D+.#G+

FB' ='067( +: =/&)'= %NO. 0>0)',0 ,/0) 8==*'00 :6@' =60)6(&) ?/) *'58)'= 600/'0w

9" $/&)?+*(' (+60'

2" g8=68)'= 'G/6A,'() (+60'

Z" _*'8LT6( (+60'

b" _*'8LT+/) (+60'

X" F'*,6(85 '(= (+60'

E8&B +: )B'0' 600/'0 ,/0) ?' 8==*'00'=D +* '50' )B' ='067( !655 :865"c67/*' ?'5+! 0B+!0 8( 655/0)*8)6+( +: B+! '8&B +: )B'0' (+60' 0+/*&'0 &+/5= ?' 7'('*8)'="


29/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2j +: ;9

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a

9S U?K'&)0 0/&B 80 =8,A'*0D 7*655'0D *+=0D ')&

2S .+(0)*6&)6+(0 6( =/&) &*+00 0'&)6+(85 8*'8D 065'(&'* 0A56))'*0 ')&"

ZS i') (+60'D 6(5') +* =60&B8*7' (+60' :5+!6(7 )B*+/7B +*6:6&'0bS _+/(=8*> 58>'* )/*?/5'(&'D 86* A8006(7 +@'* )B' 6(('* 0/*:8&' +: )B' =/&)

XS c5+! 8*+/(= ?'(=0 8(= =/&) )8L' +::0 R?*8(&B'0S

FB' ?'0) !8> )+ &+()*+5 =/&)?+*(' :8( (+60' 60 )+ (+) &*'8)' 6)" F+ 8@+6= =/&)?+*(' (+60'D (+)' )B' :+55+!6(7a

#$ 6: )B' :8( ,+)+*0 8*' 93 BA +*7*'8)'*" I(5') @8('0 &8/0' */,?5'"

'$ h0' @8*68?5' :*'G/'(&> =*6@'0 +( 86* B8(=56(7 /(6)f0 :8(0 8(= A/,A0"

`````````````````````````````````````````````````````````````````````````````````````

%$ d01%0.#1 EC6%HG#-. *(%+#

g8=68)'= 'G/6A,'() (+60' )*8(0,6)0 )B*+/7B )B' !855 +* :5++* 6()+ )B' 8=K8&'() 0A8&' +*D 6( )B' &80' +: *++:T)+A 'G/6A,'()D )+ )B' '(@6*+(,'()" g8=68)'= 'G/6A,'() (+60' 60 7'('*8)'= ?> @6?*8)6+( +: )B' :8( &806(78(= ,+)+*" O55 0)*/&)/*'0 B8@' ,/5)6A5' :*'G/'(&6'0 +: @6?*8)6+( *'0+(8(&' )B8) *'0/5) :*+, :8&)+*0 *'58)'= )+)B'6* &+(0)*/&)6+(" A' +: ,8)'*685R0SD ?/65=6(7 ,800D 8(= &+,A*60' )B'@6?*8)6+( &B8*8&)'*60)6&0 +: 8 0A'&6:6& 0)*/&)/*'" _'&8/0' )B' (8)/*85 :*'G/'(&6'0 +: :5++*0D !8550D ?'8,0D 8(=&+5/,(0 )>A6&855> *8(7' :*+, 93 )+ 43 %MD )B'0' &+,A+('()0 &8( ?' 'J&6)'= 6()+ 7*'8)'* @6?*8)6+(


30/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' 2l +: ;9

,87(6)/=' !B'( 5+&8)'= ('8* 'G/6A,'() +A'*8)6(7 6( 8 ,8)&B6(7 :*'G/'(&> *8(7'" FB' (+60' ,8> ?')*8(0,6))'= =6*'&)5> +* @68 )B' =/&) )+ )B' ?/65=6(7 0)*/&)/*'D +* 6) ,8> ?' *8=68)'= =6*'&)5> :*+, )B' =/&)"EJ&'006@' @6?*8)6+( 8(= (+60' ,8> +&&/* :*+,

9S $8,87'= +* /(?858(&'= :8( !B''5

2S _'5)0 )++ 5++0'H !+*( +* +65> ?'5)0

ZS

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

&$ D 0A''= 8(= '80' +: 6(0)8558)6+(D 8*' &+,,+(5> /0'= 6( 86* &+(=6)6+(6(7 0>0)',0" P+60'&8( ,+*' '8065> A'(')*8)' :5'J6?5' =/&)0 ?'&8/0' +: )B'6* 567B)!'67B) (8)/*'"

F+ 8@+6= ?*'8LT6( (+60'D (+)' )B' :+55+!6(7a

9S WB'*' A+006?5'D 8@+6= =/&)0 A8006(7 )B*+/7B (+60> 8*'80 80 )B60 &8( 067(6:6&8()5> 6(&*'80' (+60')B*+/7B )B' 86* &+(=6)6+(6(7 0>0)',"

2S O@+6= :5'J6?5' =/&)0" g'A58&' 567B)!'67B) :5'J6?5' =/&)0 !6)B B'8@6'* =/&)6(7 0/&B 80 0B'') 0)''5"

ZS FB' :5'J6?5' =/&)0 &8( ?' '(&5+0'= 6( 8 0+56= '(&5+0/*' &+(0)*/&)'= :*+, )6,?'*D A580)'*?+8*= +* 0B'')0)''5D ')&"

bS _':+*' '(&5+06(7 :5'J6?5' =/&)0D 6) 0B+/5= ?' (+)'= )B8) (+60' 6( )B' &'656(7 &8@6)> !655 ,+0) 56L'5>A'(')*8)' )B' &'656(7" FB60 !655 B8AA'( ,+*' 0+ 6: 567B)!'67B) 58>T6( )65'0 8*' /0'=" c6J'= A580)'*?+8*=&'656(70 76@' ?'))'* 8&+/0)6& A'*:+*,8(&' )B8( 567B)!'67B) &'656(7 )65'0"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

'$ (8,6& (+60' R850+ L(+! 80 *'7'('*8)'= (+60'SD :*+, +?0)*/&)6+(0 :6))6(70 ')& 6( )B' =/&)


31/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z3 +: ;9

ZS F/*?/5'() 86*:5+! &8/06(7 =/&) !8550 )+ @6?*8)' 8(= */,?5' *8=68)6(7 5+! :*'G/'(&> 86*?+*(' (+60'

F+ *'=/&' (+60' ?*'8L+/) :*+, =/&)0D (+)' )B' :+55+!6(7a

9S d6L' :8( (+60'D )B' ?'0) !8> )+ &+()*+5 86* :5+! (+60' 60 )+ (+) &*'8)' 6)" I)f0 ?'0) )+ ='067( 5+!TA*'00/*'D5+!T@'5+&6)> 0>0)',0" c*+, 8 (+60' &+()*+5 0)8(=A+6()D 9333 :A, 60 5+! @'5+&6)>D 2333 :A, 60 ,'=6/,@'5+&6)>D 8(= Z333 :A, 60 B67B @'5+&6)>" $'067( A*+A'* =/&) :6))6(70 :+* 0,++)B :5+! 8(= 7*8=/85 @'5+&6)>&B8(7'0"

2S 18L' =/&)0 0)6::'*" EJ)'*(85 ?*8&6(7 +: =/&)0 &8( 850+ 6(&*'80' 0)6::('00"

ZS h0' B'8@6'* ,8)'*685 :+* =/&) !8550 8(= 6(&*'806(7 =8,A6(7 R6"'" )B6&L'* 0)''5 0B'')6(7S

bS O==6(7 =8,A6(7 R0A*8> +( +* 0'5: 8=B'06@' &+,A+/(=0S

XS O&+/0)6& 58776(7D A*':'*8?5> !6)B 8 B'8@> 56,A 6,A'*@6+/0 58>'* 60+58)'= +* ='&+/A5'= :*+, )B' =/&) !6)B'6)B'* 75800!++5 +* *+&L!++5" h0' 9 6(" )B6&L =/&) 56('* 6(0)'8= +: u 6(D !B6&B 60 )++ )B6( )+ ?' /0':/5

4S #*+@6=' 8&+/0)6& 065'(&'*0 +* 5+(7 */(0 +: 6()'*(855> 56('= *'&)8(7/58* =/&) )+ *'=/&' :8( (+60' A*6+* )+855+!6(7 8 =/&) )+ */( 8?+@' )B' 8&+/0)6&85 )65' &'656(7 +: 8( +&&/A6'= 0A8&'"

FB' 0+5/)6+(0 )+ *'=/&' (+60' ?*'8L6(7 +/) :*+, =/&)0 &8( ?' 'JA'(06@'" FB'*':+*' 6) 60 ,+*' &+0) '::'&)6@')+ 8@+6= (+60' ?*'8L +/) A*+?5',0 )B8( )+ )*> )+ &+**'&) )B', 58)'*"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

($ W#$G%-0/ *(%+#

FB' :6(85 56(L0 6( )B' 86* =60)*6?/)6+( &B86( 8*' )B' )'*,6(85 86* ='@6&'0" FB'0' 8*' )B' ]7*655'0D^ ]=6::/0'*0^D]*'760)'*0^ 8(= ]@'() &+@'*0^ )B8) 7+ +@'* )B' =/&) +A'(6(7 6( )B' *++," O6* (+60' :*+, )B' =6::/0'*0 8(= :*+,)*8(06)6+(0 &8( &8/0' 8==6)6+(85 (+60' 6( )B' *'&'6@6(7 *++,"

WB'( &+(06='*6(7 ='@6&'0 56L' )B'0' e :+* 0/AA5> +* *')/*( 86* e >+/ 0B+/5= )*> )+ :6(= +/) )B' ]P.^ R]P+60'.*6)'*68^S *8)6(7 :+* )B', :*+, )B'6* *'0A'&)6@' ,8(/:8&)/*'*0" FB'0' 8*' (+60' *8)6(70 )B8) )B' ='@6&',8(/:8&)/*'* ,/0) A*+@6=' :+* 855 A+006?5' 86*:5+! *8)'0" c+* 8 &*6)6&85 0A8&'D >+/ 0B+/5= &B++0' 8 ='@6&')B8) B80 P.TZ3 +* 5+!'* :+* )B' ='067('= 86*:5+! *8)'" O&)/855>D P.TZ3 60 )B' B67B'0) >+/ 0B+/5= &+(06='*" I)0B+/5= ?' G/6)' '80> )+ :6(= 8 ='@6&' )B8) 60 ]+:: )B' &B8*)0^ 6"'"D 6) =+'0(f) B8@' 8 *8)6(7 ?'&8/0' 6) =6= (+)A*+=/&' 8(> (+60' !B'( )'0)'= 8) >+/* 86*:5+! *8)'"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999*(%+# d#165.%(- :.$0.#8%#+ %- 234, :D+.#G+

h(!8()'= 0+/(= e (+60' )B8) 60 e &8( 7'('*855> ?' &+()*+55'= 8) +(' +: )B*'' A+6()0a 8) 6)0 0+/*&'D 8) )B'560)'('*D +* 6( )B' A8)B ?')!''( )B' 0+/*&' 8(= )B' 560)'('*"

P+60' &+()*+5 8) )B' 0+/*&' &8( ?' 8&B6'@'= ?> ,86()86(6(7 'G/6A,'()D *'5+&8)6(7 (+60' 0+/*&'0D *',+@6(7/(('&'008*> (+60' 0+/*&'0D /06(7 G/6') ,+='50D +* *'='067(6(7 (+60> 'G/6A,'()" I: 8 G/6')D !'55T?858(&'=,8&B6(' 60 0A'&6:6'= 8(= 6(0)855'=D )B'*' !655 ?' 5'00 (''= :+* )B' 8==6)6+( +: 065'(&'*0 +* 8&+/0)6& )*'8),'()" O @8*6')> +: 58?+*8)+*> 8(= :6'5= )'0) A*+&'=/*'0 &8( ?' /0'= )+ ,'80/*' )B' 0+/(= A+!'* +: ,8&B6('0"

WB'( (+60' *'=/&)6+( &8((+) ?' 8&B6'@'= 8) )B' 0+/*&'D 6) ,8> ?' /0':/5 )+ ,+=6:> )B' (+60' A*+A878)6+(A8)B" 1'80/*'0 6(&5/=' :/55 +* A8*)685 '(&5+0/*'0H 0+/(= ?8**6'*0H *++, 8?0+*A)6+(H 60+58)6+(H 0+/(=&8(&'558)6+(H ,80L6(7H &B8(7'0 6( =/&) 7'+,')*>D :8( )>A' 8(= :5+! &B8*8&)'*60)6&0 ')&"

%NO. 0>0)',0 (+60' &+()*+5 *'G/6*'0 8))'()6+( )+ ,8(>D ,8(> =')8650" FB60 0'&)6+( 8))',A)0 )+ 0/,,8*6M'B'*' )B' ,8(> &+(&'A)0 &+@'*'= ?> @8*6+/0 B8(=?++L0"

#$ !"#$%&"'

$+ !"# 5+&8)' 8(> +: >+/* B'8)6(7Q&++56(7 'G/6A,'() 8(>!B'*' ('8* )B' 8&+/0)6&855> 0'(06)6@' *++,0" I: 8(86* B8(=5'* 60 )++ &5+0' )+ )B' (+60' 0'(06)6@' 8*'8D *60L +: 'J&'006@' @6?*8)6+( 8(= =6*'&) 86* :5+! (+60' 607*'8)5> ,87(6:6'="


32/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z9 +: ;9

)*+,-. A/) )B' 86* B8(=5'* 6( 8 *++, )B8) 60 AB>06&855> 80 :8* 8!8> 80 A+006?5' :*+, 8(>!B'*' >+/ !655 ?'=+6(7 8(> &*6)6&85 560)'(6(7" FB' ,+*' =60)8(&' R8(= !8550 8(= &'656(70 8(= :5++*0S >+/ &8( A/) ?')!''( >+/8(= 8(> +: )B' 'G/6A,'()D )B' ?'))'* +:: >+/f55 ?'"

E8&B 0A8&' 60 =6::'*'()" F8L' 8( 'J8,A5' +: 8 *'&+*=6(7 0)/=6+ !B'*' (+60' 60 @'*> &*6)6&85 B80 )+ ?' ='85)=6::'*'()5> !6)B *'0A'&) )+ +)B'* 0)*/&)/*'0" #'*B8A0 =/' )+ )B'6* 0/A'*:6&685 *'0',?58(&' )+ !8*'B+/0'0A8&'D 0)/=6+0 ,8> 8AA'8* )+ 6('JA'*6'(&'= ,'&B8(6&85 '(76(''*0 )+ ?' A'*:'&) &8(=6=8)'0 :+* *++:)+A

/(6)0 5+&8)'= =6*'&)5> +@'*B'8=" FB60 60 85,+0) 85!8>0 8 ?67 ,60)8L'D ?'&8/0' 'JA+06(7 8 0)/=6+ )+ (+60'8(= @6?*8)6+( ?> A+L6(7 8 B+5' 6( 6)0 *++: 8(= A58&6(7 *+)8)6(7 ,8&B6('*> )B'*' ,8L'0 6) @6*)/855> 6,A+006?5')+ 8&B6'@' 6(=/0)*>T0)8(=8*= ?8&L7*+/(= (+60' 5'@'50"

FB' :+55+!6(7 ,8> ?' (+)'=a

• d+&8)' 855 :8(0 8(= (+60> 'G/6A,'() 80 :8* 8!8> :*+, &*6)6&85 0A8&'0 80 A*8&)6&85D 8(= ('@'* +( 8 *++:=6*'&)5> +@'* 8 &*6)6&85 0A8&'"

• 18L' 0/*' )B' *++: /(='* *++:)+A /(6)0 60 80 *676= 80 A+006?5'" .+(06='* :5'J6?656)> +: *++: +* /AA'* :5++*0)*/&)/*'0 6( 0'5'&)6(7 @6?*8)6+( 60+58)6+("

• d+&8)' )B' ,'&B8(6&85 'G/6A,'() *++, +( 7*8='D 6( 8 ?80','()D +* 6( 8 0/?T?80','()"

• h0' (+(T&*6)6&85 0A8&'0 )+ ?/::'* &*6)6&85 0A8&'0 :*+, 'G/6A,'() *++, (+60'" FB'0' ?/::'* 0A8&'0

6(&5/=' &+**6=+*0D '5'@8)+* &+*'0D )+65') *++,0D 0)+*87' *++,0D )'5'AB+(' 'G/6A,'() *++,0D ')&" `````````````````````````````````````````````````````````````````````````````````````

%$ )&*+$%&"' ,-".$%&"'

g+)8)6(7 +* ,+)+*T=*6@'( ,8&B6('*> 7'('*8)'0 @6?*8)6+( '('*7> )B8) &8( )*8@'5 )B*+/7B 8 ?/65=6(7C0 0)*/&)/*'8(= *8=68)' :*+, )B' !8550D :5++*0 8(= &'656(70 6( )B' :+*, +: 86*?+*(' (+60'" I) 60 )B'*':+*' A*/='() )+ 60+58)'8(> @6?*8)6(7 'G/6A,'() :*+, )B' 0/**+/(=6(7 0)*/&)/*'" FB60 &8( ?' 8&&+,A560B'= ?> ,+/()6(7 )B''G/6A,'() +( 0A*6(70D A8=0D +* 6('*)68 ?5+&L0" c5+8)6(7 :5++*0 ,8> 850+ ?' &+(06='*'= A8*)6&/58*5> 6: )B','&B8(6&85 *++, 60 5+&8)'= +( =6::'*'() :5++*"

2(& G65J %+(/0.%(->

N6?*8)6+( 60+58)+*0 ,/0) ?' ,8)&B'= )+ )B' 5+8= )B'> &8**>" O 0A*6(7 )B8) 60 :/55> &+,A*'00'= =+'0(C) +::'*8(> 60+58)6+( 8(= 8( /(&+,A*'00'= 0A*6(7 60 850+ K/0) 80 6('::'&)6@'" FB' :+55+!6(7 L'> A+6()0 0B+/5= ?'

(+)'= !B'( 8AA5>6(7 60+58)6+(a

• FB' A*6(&6A85 0)*8)'7> :+* &+()*+556(7 'G/6A,'() @6?*8)6+( 60 5+&8)6+(" #58&' )B' *+)8)6(7 'G/6A,'()+( 7*8='D 6( )B' ?80','()D +* 6( )B' 0/?T?80','()" 1+0) A/,A0 (''= 60+58)+*0 '@'( 6( )B'0'='06*8?5' 5+&8)6+(0"

• $+ (+) A58&' 'G/6A,'() +( 56,?'* 5+(7T0A8( :5++*0 +* *++:0" FB' 0)*/&)/*' ,/0) ?' 8) 5'80) 93 )6,'080 0)6:: 80 )B' 'G/6A,'() @6?*8)6+( 60+58)+*0"

• 60+58)+*0 :+* 'G/85 0)8)6& =':5'&)6+(" I: )B' !'67B) 8) '8&B +:)B' :+/* &+*('*0 +: 8 ,8&B6(' ?80' 60 067(6:6&8()5> =6::'*'()D )B'( :+/* =6::'*'() 60+58)+*0 !6)B :+/*=6::'*'() 0)6:: ('00'0 8*' *'G/6*'="

• O5!8>0 /0' )+)85 !'67B) +: 'G/6A,'() !B'( 0'5'&)6(7 60+58)6+(" O5!8>0 &+(06='* !'67B) =60)*6?/)6+(+: 'G/6A,'() 6( 0'5'&)6+("

• 0)',D 8 !'55 ?858(&'= ,+)+* 8(= :8( 6,A'55'* 80 !'55 80 A*+@6=6(7 )B'*'G/6*'= 86* ,+@','() 8) 80 5+! 8 g#1 80 A+006?5' 0B855 *'0/5) 6( 5+!'* @6?*8)6+(0"

• *8(7'" I: (+) ,8)&B'= A*+A'*5> !6)B )B'


33/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z2 +: ;9

)*'8)'= 'G/6A,'()D )B' ='@6&'0 &8( 8,A56:> )B' @6?*8)6+(0 8(= &8/0' ,+*' +: 8 A*+?5', )B8( !+/5=B8@' +&&/**'= !6)B+/) 8(> )*'8),'()"

O &+,,+( */5' +: )B/,? :+* 0'5'&)6+( +: @6?*8)6+( 60+58)6+( 60 80 :+55+!0a

P+)' 6( 8?+@' )8?5'

• .*6)6&85 6(0)8558)6+(0 8*' /AA'* :5++* +* *++: ,+/()'= 'G/6A,'()

• P+(T&*6)6&85 6(0)8558)6+(0 8*' 7*8=' 5'@'5 +* ?80','() :5++*"

O) )B' @'*> 5'80)D ?' 0/*' )B' ,'&B8(6&85 'G/6A,'() *'0)0 +( 0+,' 0+*) +: @6?*8)6+( =8,A6(7 A8=" x+/ &8(850+ ]:5+8)^ )B' /(6) +( 0+,' */??'* +* ,'&B8(6&85 0A*6(70" i/0) ?' 8!8*' )B8) )B' A*+A'* )>A' +: 0A*6(70

,/0) ?' /0'=" FB' !*+(7 )>A' +: 0A*6(70 &8( =+ (+)B6(7 +* '@'( 8,A56:> @6?*8)6+(0 :*+, 'G/6A,'()" q') 8(%NO. +* (+60' 8(= @6?*8)6+( &+()*+5 'JA'*) 6( )B' 5++A"

/////////////////////////////////////////////////////////////////////////////////////

&$ /&+0."1 '"&-2

O6* &8( +(5> ?' B'8*= !B'( 6) 60 ,+@6(7" *+0"#2+"#* *+& $#7* '3'*&-'"

I(&*'806(7 =/&) +* +A'(6(7 06M' )+ 5+!'* 86* @'5+&6)6'0 '::'&)6@'5> *'=/&'0 (+60' 6( )B' *67B) 8AA56&8)6+(0"

h0' )B' ('&L 06M' +: )B' A*+A'*5> 0'5'&)'= =6::/0'*0 80 8 7/6='" c5+! @'5+&6)> !6)B6( 93 :'') +: )B' ('&L0B+/5= (+) 'J&''= )B' @'5+&6)> 6( )B' ('&L" I) 0B+/5= (+) ?' ,+*' )B8( 8?+/) 2Xt B67B'* 6( )B' ('J) 93 :'')"

O &+,,+( A*+?5', 60 8 G/6') =6::/0'* =6*'&)5> +( )B' 06=' +: 8( 'JA+0'= =/&) !6)B B67B @'5+&6)> :5+! 6( )B'=/&)" FB' =/&) @'5+&6)> 0B+/5= (+) 'J&''= )B' =6::/0'* ('&L @'5+&6)>"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

'$ 3"&-2 452 %" 65#%1"+7

FB' 0/AA5> =/&) 60 7'('*855> )B' 56,6)6(7 '5','() 6( )B' 8&+/0)6&85 ='067( +: 8( 'G/6A,'() *++," W6)B 876@'( =/&) 58>+/)D )B' 0/AA5> =/&) &+(0)*/&)6+(D 80A'&) *8)6+ +: )B' =/&)D 6()'*(85 56(6(7D 8(= =/&) 0)6::('00&8( 855 8::'&) )B' '(= *'0/5)0" _8*' 0B'') ,')85 86* =/&)0 A*+@6=' 8 56,6)'= (+60' ?8**6'* 8(= B8@' (+ 0+/(=8?0+*A)6@' A*+A'*)6'0" U( )B' &+()*8*>D )B'0' 8&) 80 &+(=/6)0 :+* 'G/6A,'() (+60'" 8))'(/8)6+( !655 ?' =6::'*'() :+* *+/(= 8(= &6*&/58* &*+00T0'&)6+( =/&)0"

c+* 8(> =/&)'= 0>0)',D 0+,' L'> )B6(70 )+ L''A 6( ,6(=a

• W6)B &'()*6:/785T)>A' :8(0D )B' 5+! :*'G/'(&> &+()'() +: )B' :8( (+60' 60 )B' ,+0) A*'@85'() 8(==6::6&/5) )+ 8))'(/8)'" 1800 ?'0) 8))'(/8)'0 5+! :*'G/'(&> (+60'" FB'*':+*'D ?> 6(&*'806(7 )B' =/&)78/7' :*+, 7++=H )B'*':+*'D ,6(6,85 (+60' ?*'8L0 +/) +: )B' =/&)!+*L" WB65' !' L(+! )B8),+0) A*+K'&) &'656(7 A5'(/,0 &8((+) 8&&+,,+=8)' &6*&/58* =/&)!+*LD )B' 6='8 6( '0)8?560B6(780A'&) *8)6+0 +: =/&)!+*L 60 )+ 06M' )B' =/&) )+ 8AA*+8&B &6*&/58*"


34/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' ZZ +: ;9

• I(&*'806(7 ?+)B )B' 8(75' ?*8&6(7 8(= =/&) 78/7' B80 ?''( 0/&&'00:/5 6( *'=/&6(7 )B' :8( (+60'?*'8L+/) 6( +&&/A6'= 0A8&'0"

• I()'*(85 56(6(7 A*+@6='0 8))'(/8)6+( :+* =+!(0)*'8,Q/A0)*'8, (+60' 600/'0 80 !'55 80 =8,A6(7'5','() )+ )B' =/&) &+(0)*/&)6+(" FB' 0'5'&)6+( +: =/&) 56(6(7 0B+/5= ?' =+(' /(='*0)8(=6(7 )B'80A'&) *8)6+D +@'*855 :8( 0+/(=D 8(= 8))'(/8)6+( *'G/6*','()0"

•

FB' 8))'(/8)6+( +: /(56('= 0B'') ,')85 =/&)0 60 @'*> 0,855D *8(76(7 :*+, 3y4 =_Q,')'* :+* 0,855*'&)8(7/58* =/&)!+*L 8) 5+! :*'G/'(&6'0 )+ 5'00 )B8( 3y9 =_Q,')'* 8) B67B :*'G/'(&6'0"

• W6)B 855 =/&)0D &8*' ,/0) ?' )8L'( )B8) )B' =/&)0 8*' 58*7' '(+/7B )+ ='56@'* )B' (''='= @+5/,' +:86*" 0)',0 8!8> :*+, 8&+/0)6&855> 0'(06)6@' 8*'80" FB' 7*'8)'* )B' 5'(7)B +: 0/AA5>=/&) +@'* (+(T&*6)6&85 0A8&'0D )B' ,+*' 56L'5> )B' =/&) 60 )+ *'=/&' 6)0 8&+/0)6&85 6,A8&) +( +&&/A6'=0A8&'0" q'('*855>D 9X )+ 23 :) +: =/&)!+*L 60 ='06*'= .0)"0 )+ '()'*6(7 )B' &'656(7 A5'(/, +: )B'+&&/A6'= 0A8&'"

• U@'*T06M6(7 )B' =/&)0 60 8 7++= A*8&)6&'" c67/*' +/) )B' 86*:5+! *'G/6*'= :+* '8&B *++, 6( ].c1^R&/?6& :'') A'* ,6(/)'S" F+ :6(= +/) !B8) 06M' >+/ 0B+/5= ,8L' )B' =/&)0D =6@6=' )B' .c1 ?> )B'&*+00T0'&)6+(85 8*'8 +: )B' =/&) 6( 0G/8*' :'') R:)zS" EJ8,A5'a X33 .c1 *'G/6*6(7 92^ *+/(= =/&)

>6'5=0 3";jX :)z &*+00T0'&)6+(85 8*'8" FB'*':+*'D )B' 86* :5+! @'5+&6)> !655 ?' X33Q3";jX V {4Z; c#1R:'') A'* ,6(/)'S" O(> *'0/5) >+/ 7') :+* )B' 8?+@' /(='* 9D333 c#1 60 7++="

• WB'( )B' 86*:5+! 7'('*8)'= (+60' 60 /(8&&'A)8?5> B67BD '(76(''*0 0B+/5= 85!8>0 :6*0) 8))',A) )+*'=/&' )B' 86* @'5+&6)6'0 R86*:5+! 7'('*8)'= (+60' 60 A*+A+*)6+(85 )+ )B' 06J)B A+!'* +: )B' @'5+&6)>S"I( A*8&)6&'D 86*:5+! 7'('*8)'= (+60' &8( ?' 67(+*'= !B'( @'5+&6)6'0 8*' ?'5+! 9X33 :)Q,6( 6( )B',86( =/&) 8(= 433 :)Q,6( 6( ?*8(&B =/&)0"

• h0' *+/(= =/&) ('8* :8(0 !B'( )B' =/&) ,/0) A800 +@'* &*6)6&85 8*'80" h0' *'&)8(7/58* =/&) ('8*:8(0 +@'* (+(T&*6)6&85 8*'80"

• I: )B' =/&)0 8*' 0B'') ,')85D >+/ ,8> (''= )+ 60+58)' )B', :*+, )B' ?/65=6(7 /06(7 0A*6(7 60+58)6(7B8(7'*0"

• h0' *+/(=D 6(0/58)'=D :5'J6?5' =/&)0 !B'( K+6(6(7 )+ )B' )'*,6(85 *'760)'*0" $+ L''A 6( ,6(= )B8)

06(&' )B'*' 60 (+ 0B'') ,')85D 0+/(=0 &+/5= ]?*'8LT6(^ )+ )B' =/&)0 :*+, 0A8&'0 )B'> 8*' A8006(7+@'* +* )B*+/7B" D ,8L' 0/*' )B'> 8*' 7*8=/85 8(= e 6: A+006?5' e 6(&5/=' 5+(7D *8=6/0'0 )/*(6(7 @8('0" h0' 5+! A*'00/*' =*+A '5?+!0 o :6))6(70 RA'* ('! =/&)!+*L 0B+/5= ?' 06M'= 8&&+*=6(7 )+ *'&+7(6M'= 6(=/0)*> 0)8(=8*=0 0/&B 80 18(/85T$DA/?560B'= ?> )B' O6* .+(=6)6+(6(7 .+()*8&)+*0 +: O,'*6&8 RO..OS"

• h0' 0B'') ,')85 =/&)0 !6)B 2^ 6()'*(85 56(6(7 :+* :6*0) 93 :'') R9333 :)Q,6(S"

• d+&8)' )B' =8,A'*0 !'55 /A0)*'8, +: )B' +/)5') !6)B6( )B' 56('= =/&)!+*L"

• h0' ,6(6,/, 4 :'') +: 8&+/0)6&85 :5'J ?')!''( 5+! A*'00/*' =/&) 8(= =6::/0'*"• FB' ,+*' RA*':'*8?5> 56('=S =/&) 5'(7)B >+/ */( ?')!''( )B' 'G/6A,'() 8(= >+/* *++,D )B' 5'00

(+60' >+/f55 B8@' )+ !+**> 8?+/)"

• O@+6= A/))6(7 =/&)0 6( !8550 0B8*'= !6)B +)B'* (+60' 0'(06)6@' +* (+60' A*+=/&6(7 0A8&'0" FB60 !655&*'8)' 8 !'8L 56(L 6( >+/* !855 &+(0)*/&)6+("

• I( +*='* )+ ='56@'* )B' 08,' @+5/,' +: 86*D :5'J =/&) 8(= =/&) ?+8*= 0>0)',0 ,/0) /0/855> ?' 06M'=58*7'* )B8( ,')85 =/&)0 80 )B'6* 6()'*6+* 0/*:8&' 60 ,/&B *+/7B'*D 5'8=6(7 )+ ,+*' *'0)*6&)6@' 86* :5+!


35/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Zb +: ;9

• .+(('&) )B' 86* B8(=5'* )+ )B' =/&) !+*L /06(7 :5'J6?5' &+(('&)+*0"

• h0' )B' ('&L 06M' +: )B' A*+A'*5> 0'5'&)'= =6::/0'*0 80 8 7/6='" c5+! @'5+&6)> !6)B6( 93 :'') +: )B'('&L 0B+/5= (+) 'J&''= )B' @'5+&6)> 6( )B' ('&L" I) 0B+/5= (+) ?' ,+*' )B8( 8?+/) 2Xt B67B'* 6( )B'('J) 93 :'')" O &+,,+( A*+?5', 60 8 G/6') =6::/0'* =6*'&)5> +( )B' 06=' +: 8( 'JA+0'= =/&) !6)B B67B@'5+&6)> :5+! 6( )B' =/&)"

`````````````````````````````````````````````````````````````````````````````````````($ /#"5-% 65#% !&'&'8

c8( (+60' ,/0) ?' 065'(&'= ?':+*' '()'*6(7 )B' =/&)0" B+& ,$$)*)"% "1 ,7"#'*)7 /)%)%2 0&'#/*' )% ')2%)1)7,%*,**&%#,*)"% "1 +)2+ 10& 8?0+*?0 ;3 A'*&'() +: )B' 0+/(= 8) )B' ,+0) &+,,+( :*'G/'(&6'0" F!+T6(&BT)B6&L =/&) 56('* B80 8( Pg. +: 3"l3D 8?0+*?6(7 l3 A'*&'() +: )B' (+60'"

• F/*(0 8(= )B6( 56(6(70 B'5A *'=/&' B67BT:*'G/'(&> (+60' ?/) B8@' 56))5' '::'&) +( 5+! */,?5'" FB6&L

56(6(70D )*/' A5'(/,0 R58*7' 6( &+,A8*60+( )+ &+(('&)'= =/&)0SD +* !*8A0 +( *'&)8(7/58* =/&)A*+@6=' )B' ,+0) *'=/&)6+( +: 5+!T:*'G/'(&> 0+/(="

• FB' 5+&8)6+( +: =/&) 56(6(7 &8( ?' 8 &*6)6&85 :8&)+*" I) 60 (+*,855> A58&'= 8) )B' 0)8*) +: 8 =/&) 0>0)',)+ 8))'(/8)' :8( (+60' 8(= ('8* )B' +/)5')0 )+ &+**'&) 86* :5+! 7'('*8)'= (+60' :*+, =8,A'*0 8(=:6))6(70"

• I: )B' ?'(= 60 56('= !6)B 8&+/0)6&855> 8?0+*?6(7 ,8)'*685 +* :8?*6&8)'= +/) +: :6?'*75800 )B'( )B'8))'(/8)6+( !655 ?' 7*'8)5> 6(&*'80'=" O==6(7 6(0/58)6+( B'5A0 *'=/&' B67B :*'G/'(&> 0+/(=0"

•


36/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' ZX +: ;9

• FB' ?'(':6)0 +: 56(6(7 86* =/&)0 7+ ?'>+(= 8&+/0)6&85 6,A*+@','()0" FB' )B'*,85 6(0/58)6(7A*+A'*)6'0 +: :6?'* 75800 B'5A *'=/&' '('*7> &+(0/,A)6+( 8(= A*+,+)' &+,:+*)8?5' )',A'*8)/*'0"gT@85/' 'J&''=0 b A'* 6(&B +: ,+0) :6?'* 75800 =/&) 56('* A*+=/&)0" FB'*,85 8(= 8&+/0)6&85A'*:+*,8(&' 60 =+&/,'()'= /06(7 6(=/0)*> 0)8(=8*= )'0) ,')B+=0 0A'&6:6'= /(='* O 8 =':6(6)6@' =')'*,6(8)6+( 600/'= ?> )B' I()'*(8)6+(85 O7'(&> :+* g'0'8*&B +( .8(&'*D 8(8*, +: )B' W+*5= %'85)B U*78(6M8)6+("

99999999999999999999999999999999999999999999999999999999999999999999999999999999

)$ 9:%2+'$. 65#% !$88&'8

EJ)'*(85 56(6(7 R58776(7S +: =/&)0 !6)B :+65 :8&'= *+&L!++5 +* 75800!++5 *'=/&'0 =/&) ?*'8L+/) (+60' ?>=8,A6(7 )B' =/&)" FB' 0+/(= 8))'(/8)6+( 8&B6'@'= 6(06=' )B' =/&) 60 850+ '(B8(&'= ?> =/&) 58776(7

A8*)6&/58*5> 8) 5+! :*'G/'(&6'0D /A )+ 8?+/) X33%M" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

*$ ;.2:&*.2 65#%-

c5'J6?5' =/&)0 8*' /0/855> A*+@6='= )+ &+(('&) )B' =/&) )+ )B' )'*,6(85 =6::/0'*0D !B6&B 8*' :/*(60B'= !6)B

6()'7*85 @+5/,' =8,A'*0" )B' =6::/0'*D 8(= )B' ,87(6)/=' +: )B' A*'00/*' =*+A

8&*+00 )B' =8,A'*"

O ,608567(,'() +* +::0') )B8) 'J&''=0 8AA*+J6,8)'5> +('TG/8*)'* =68,')'* 6( 8 =6::/0'* &+558* 5'(7)B +: )!+

=68,')'*0 &8( &8/0' 8 067(6:6&8() &B8(7' 6( =6::/0'* 0+/(= A+!'* 5'@'5 8?+@' )B8) +: )B' ,8(/:8&)/*'*C0

A/?560B'= =8)8" c67/*' ?'5+! 0B+!0 8( 'J8,A5' +: 6(&*'80'= A*'00/*' =*+A 8(= 6(&*'80'= (+60' 5'@'5 :+* 8

:5'J6?5' =/&) &+(('&)6+(" WB'( )B'*' 60 8( +::0') +: +(5> 9Qj )B' =68,')'*D )B'*' 60 (+ 8AA*'&68?5' &B8(7' 6(

)B' =6::/0'* A'*:+*,8(&'"

`````````````````````````````````````````````````````````````````````````````````````

+$


37/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z4 +: ;9

O0 &+(=6)6+('= 86* )*8@'50 :*+, 8 :8( )+ 8( +&&/A6'= *++,D 6) 60 0/?K'&)'= )+ 8&&'5'*8)6+(D ='&'5'*8)6+(D&B8(7'0 6( =6*'&)6+(D =6@606+( 8(= 8 @8*6')> +: 0/*:8&'0 8(= +?0)8&5'0" E8&B +: )B'0' '::'&)0 =60)/*?0 )B'/(6:+*,6)> +: )B' 86*:5+! 8(= &8/0'0 )/*?/5'(&'D !B6&B 6( )/*( &*'8)'0 (+60'" FB' AB'(+,'(+( 60 ,+*'A*+(+/(&'= !B'*' *'&)8(7/58* =/&)0 &B8(7' 06M' +* =6*'&)6+("

• E5?+!0D )8L' +:: :6))6(70D )*8(06)6+(0D ')&" B'5A *'=/&' 5+! :*'G/'(&> 0+/(=0 )B*+/7B )B' =/&) 0>0)','0A'&6855> 6( )B' X33 %M *8(7' 80 7'('*8)'= ?> :8(0" FB'0' =/&) :6))6(70 )'(= )+ *':5'&) 0+/(=0 ?8&L

/A0)*'8,D ?8&L )+!8*=0 )B' :8(D )B/0 *'=/&6(7 )B' 8,+/() +: 0+/(= '('*7> ,+@6(7 :+*!8*=)+!8*=0 )B' *++,"

• c+* 8 0G/8*' =/&) )B' ?'(= 8))'(/8)6+( 60 8 ,8J6,/, +: 0+,' ; +* j =_ 8) )B' :*'G/'(&> R+&)8@'?8(=S :+* !B6&B )B' !8@'5'(7)B +: 0+/(= 6( 86* 60 )!6&' )B' =/&) !6=)B" O) B67B'* :*'G/'(&6'0D )B'8))'(/8)6+( =*+A0 )+ Z +* b =_ 8(= 8) 5+!'* :*'G/'(&6'0 6) &8( :855 )+ 5'00 )B8( 9 =_"

• I: )B' ?'(= &+()86(0 )/*(6(7 @8('0 )+ B'5A )B' 86*:5+! 8*+/(= )B' &+*('* 0,++)B5> )B'( )B'8))'(/8)6+( A*+=/&'= !655 ?' @'*> ,/&B *'=/&'= R?/) 0+D +: &+/*0'D !655 )B' 8,+/() +: (+60'*'7'('*8)'= ?> )B' ?'(=S"

• 1')85 )/*(6(7 @8('0 *'=/&' )/*?/5'(&' ?> 0,++)B6(7 86*:5+! 6( )B' *67B) 8(75'D ?/) )B'> &8( &*'8)')B'6* +!( (+60' A*+?5',0 ?> @6?*8)6(7 8(= *':5'&)6(7 +* *'7'('*8)6(7 0+/(=" .B++0' *+/(='= :6(7'*7/8*=0 !B'( A+006?5'"

• F/*(0 8(= )B6( 56(6(70 B'5A *'=/&' B67BT:*'G/'(&> (+60' ?/) B8@' 56))5' '::'&) +( 5+! */,?5'" FB6&L56(6(70D A5'(/,0 R58*7' 6( &+,A8*60+( )+ &+(('&)'= =/&)0SD +* !*8A0 +( *'&)8(7/58* =/&) A*+@6=' )B',+0) *'=/&)6+( +: 5+!T:*'G/'(&> 0+/(="

`````````````````````````````````````````````````````````````````````````````````````

+$ 3"&-2 452 %" 65#% >+$'#?2-

J+&% *+& ,)0 '*0&,- )' $):)$&$H *+& '"#%$ 7,00)&$ )% &,7+ $"F%'*0&,- ;0,%7+ )' /&'' *+,% *+& '"#%$#.'*0&,- "1 *+& ;0,%7+ *,U&I"118 FB/0 6: )B' ,86( =/&) =6@6='0 6()+ )!+ 'G/85 ?*8(&B'0D )B' 0+/(= A+!'*5'@'5 6( '8&B ?*8(&B K/0) ?'5+! )B' K/(&)6+( 60 Z =_ 5'00 )B8( 6( )B' ,86( ?*8(&B K/0) 8?+@' )B' K/(&)6+(" FB'8AA*+A*68)' 5'@'5 +: 8))'(/8)6+( &8( )B'( ?' =')'*,6('= :*+, )8?5' ?'5+!"

I: )B' :5+! B8= =6@6='= 6()+ )!+ A8*)0 =+!( +(' ?*8(&B 8(= )B*'' A8*)0 =+!( )B' +)B'*D )B'( 6( )B' 0,855'*?*8(&B )B' ?*8(&B 8))'(/8)6+( !+/5= ?' 93 5+793 RXQ2S V b =_D 6"'" )B' 0+/(= A+!'* 5'@'5 6( )B' 0,855'*?*8(&B !+/5= ?' b =_ 5'00 )B8( 6( )B' ,86( ?*8(&B" I( )B' +)B'* ?*8(&B )B' 8))'(/8)6+( !+/5= ?' 2"2 =_"

9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

,$ )".5@2 6$@A2+-

O( 6,A+*)8() :'8)/*' 6( )B' A*+A'* ='067( +: 8 =/&) !+*L 0>0)', 60 )B' 8?656)> )+ &+()*+5 )B' 8,+/() +: 86*)B8) :5+!0 )B*+/7B '8&B 0'7,'() +: )B' =/&) )+ '(0/*' )B8) )B' @+5/,' +: 86* 0/AA56'= )+ '8&B 0A8&' 60)865+*'= )+ 6)0 &+(=6)6+(6(7 (''=0 8(= )B8) '8&B 0/AA5> =6::/0'* 6( 8 76@'( *++, 60 ?858(&'= !6)B )B' +)B'*0"F+ 8&&+,A560B )B60D @+5/,' =8,A'*0 8*' (''='= )+ 56,6) )B' 8,+/() +: 86* )B8) 60 855+!'= =+!( )B' =/&)A8)B" h(:+*)/(8)'5>D =8,A'*0 8&&+,A560B )B'6* @+5/,' &+()*+5 ?> A6(&B6(7 =+!( )B' 86* 0)*'8,D 6(&*'806(7)B' A*'00/*' 8(= &+(0'G/'()5> )B' (+60' !B'*'@'* )B'> +&&/*"

• c+* +::6&' 0A8&'0D &'656(7 0/AA5> =6::/0'*0 *+/)6('5> 8*' 6(0)855'= !6)B :8&' =8,A'*0D !B6&B 8*'@+5/,' &+()*+5 =8,A'*0 5+&8)'= *67B) 8) )B' 6(5') )+ )B' =6::/0'*" FB' 86*:5+! (+60' &*'8)'= ?> )B':8&' =8,A'*0 60 '00'()6855> 'JA+0'= =6*'&)5> 6()+ )B' *++," I( 8&+/0)6&855> 0'(06)6@' 0A8&'0D '@'( 6::8&' =8,A'*0 8*' 5':) !6=' +A'( )B'> &8( 7'('*8)' 8/=6?5' (+60'" $+ (+) /0' :8&' =8,A'*0 +( )B'


38/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Z; +: ;9

=6::/0'*0 )+ 8=K/0) )B' 86* @+5/,'" O=K/0) )B' @+5/,' /A0)*'8, 8) )B' 0)8*) +: ?*8(&B =/&) /06(7+AA+0'=T?58='T)>A' =8,A'*0"

• $+ (+) /0' +AA+0'= ?58=' =8,A'*0 6( (+60' 0'(06)6@' 8AA56&8)6+(0"

`````````````````````````````````````````````````````````````````````````````````````

#-$ 65#% B+"--%$.7

d8> =/&)0 )+ A*'@'() &*+00)85L 8(= )+ 8))'(/8)' )B' :8( (+60'" FB' =/&) !+*L )B8) &+(('&)0 8 :8( +* 86*B8(=5'* )+ 8 *++, 60 8 &+()86('= 0>0)', )B8) !655 850+ &+(('&) )B' 'G/6A,'() (+60' 8(= @6?*8)6+( )+ )B'*++, /(5'00 8='G/8)' A*'&8/)6+(0 8*' )8L'( )+ 8))'(/8)' )B' (+60' ?':+*' 6) 7')0 )B'*'" W6)B+/) 6()'*(850+/(=T8?0+*A)6@' =/&) 56('* +* A*':8?*6&8)'= 0+/(= 8))'(/8)+*0D (+60' )*8@'50 '::'&)6@'5> =+!( )B' =/&)0>0)', *67B) 85+(7 !6)B )B' &+(=6)6+('= 86*"

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

,+=6:6&8)6+(0 )+ =/&) 58>+/)0 R*':'* :67/*' ?'5+!S 8(= I(&*'80' )B' 8,+/() +: '(= *':5'&)6+( RB67B'* (/,?'*+: 0,855'* *'760)'*0 60 A*':'*8?5' )+ :'!'* 58*7'* *'760)'*0S"

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


39/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Zj +: ;9

*')/*( 6()8L' 0B+/5= ?' ?80'= +( 8 @'*> 5+! :8&' @'5+&6)>D *')/*( =/&) 5'(7)B'('= 8(= 56('=D A5/0 )B' 86*0B+/5= ?' ,8=' )+ )/*( 8) 5'80) )!6&' 6( 6)0 A8)B )+!8*= )B' 'G/6A,'()" 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999

##$ C2#?$'$. D""@ ,+)6+( )+ )B' !855 +* &'656(7" O 0A8&' +: 8AA*+J6,8)'5> Z :) /0/855> 0/::6&'0"

• #*+@6=' 8 (+,6(85 b 6(" &+(&*')' B+/0'L''A6(7 A8= ?'('8)B 'G/6A,'() &8?6(')0 )+ ,6(6,6M' )B''::'&)0 +: &5+0' &+/A56(7 )+ )B' :5++*"

• h0' *+/(= =/&) ('8* :8(0 !B'( )B' =/&) ,/0) A800 +@'* &*6)6&85 8*'80"

`````````````````````````````````````````````````````````````````````````````````````

#%$ C2#?$'$. D""@ F+2$%@2'%

EG/6A,'() (+60' )*8@'50 /AD =+!(D 8(= 06='!8>0" FB60 ,'8(0 )B8) 'G/6A,'() *++, !8550 ,/0) ?' 0'5'&)'=80 8 :/(&)6+( +: )B' 'G/6A,'() B+/0'= )B'*'6( 8(= )B' (+60' 0'(06)6@6)> +: )B' 8=K8&'(&6'0" FB' 0)8(=8*=0A'& ?/65=6(7 0)''5 0)/= 8(= =*>!855 A8*)6)6+( &+(0)*/&)6+(0 /0/855> =',+(0)*8)' @'*> A++* 5+! :*'G/'(&>0+/(= 6(0/58)6+( A'*:+*,8(&'" ?> ,'8(0 +: ='(0'D A568?5' */??'*"

• FB' ,86( !8>0 )+ ,6(6,6M' 0+/(= )*8(0,6006+( :*+, +(' 0A8&' )+ 8(+)B'* 8*' 8==6(7 ,800 8(=='&+/A56(7" O&+/0)6&855> 6(0/58)' )B' ,'&B8(6&85 *++, !8550 8(= &'656(70 !6)B :6?'* 6(0/58)6+(,+/()'= +( !++='( ?8))'(0" FB' 6(0/58)6+( 0B855 ?' &58= !6)B A'*:+*8)'= O5/,6(/, 0B'') +: Z478/7'"

• EG/6A,'() *++, :5++*0 8(= &'656(70 ,/0) A*+@6=' 8='G/8)' 0+/(= 6(0/58)6+( )+ A*+)'&) 8=K8&'()0A8&'0" h(:+*)/(8)'5>D ,+='*( 567B)!'67B) :5++* &+(0)*/&)6+(0 )>A6&855> &+(060) +: 8 :5/)'= ,')85 A8(!6)B 8 (+,6(85 X 6(" &+(&*')' )+AA6(7D !B6&B 60 +:)'( (+) 8='G/8)'"

• d6,A ,800 60 ,+0) +:)'( ?'))'* )B8( *676= ,800 R8&)/855>D 8 &+,?6(8)6+( +: )B' )!+ 60 *'855> 60?'))'*S"

• E@'*> +?K'&)D '@'*> &+(0)*/&)6+( ,8)'*685 B80 8 *'0+(8() :*'G/'(&> 8) !B6&B 6) 60 @6*)/855> 8( +A'(!6(=+! )+ 0+/(= T L6(= +: 56L' 8 )/(6(7 :+*L )B8) ]06(70^ 8) 6)0 A8*)6&/58* *'0+(8() :*'G/'(&>"

• F*8AA'= 86* R8"L"8"D 86* 0A8&'0 8(= 86* 78A0S 60 8 @'*> 7++= ='&+/A5'*"

• O6*)67B) &+(0)*/&)6+( 60 8 L'> &+(&'A)"


40/72

!!!"#$%&'()'*"&+, #$% .+/*0' 1234 !!!"#$%+(56('"+*7

#87' Zl +: ;9

• $+/?5' 5'8: !8550 76@' 7++= 6(0/58)6+( 6: )B'> 8*' &+,A5')'5> ='&+/A5'=" c+* 'J8,A5'D 2 0B'')0 +:A580)'*?+8*= ?+(='= )+7')B'* !655 76@' Z3=_ 8))'(/8)6+(H )B60 !+/5= 6(&*'80' )+ X3=_D 6: )B'> !'*'A'*:'&)5> 60+58)'=" %67B 5'@'50 +: 6(0/58)6+( &8( ?' 8&B6'@'= !6)B &8*' 8(= 'JA'(0' T :+* 'J8,A5'D0'A8*8)6+( +: ,/5)6A5'J &6(',8 8/=6)+*68 +: !'67B)'= 0)8(=8*=6M'= 5'@'5 =6::'*'(&' +: 4X=_ )+ +@'*;3=_ &8( ?' 8&B6'@'= ?> /06(7 2 58>'*0 +: 9X,, A580)'*?+8*= +( 0'A8*8)' 0)/=0D 8 58*7' &8@6)>!6)B 933,, G/65) 6(58> 8(= &8*':/5 B'8=D ?80' 8(= '=7' =')8656(7"

UV P 7@ I0// 5(-+.$65.%(-

FB' 8&+/0)6&85 &8A8?656)6'0 +: )B' ,'&B8(6&85 'G/6A,'() 0B+/5= ,8)&B )B' 8&+/0)6&85 &8A8?656)6'0 +: )B''G/6A,'() *++, !855 8(= =++* &+(0)*/&)6+(" c+* 'J8,A5'D 6: 8 0)8(=8*= &'()*6:/785 :8( 0>0)', 60 0'5'&)'=:+* )B' A*+K'&)D 8(= )B' 8&+/0)6&85 '(76(''* A*+K'&)0 (+60' 5'@'50 8AA*+J6,8)6(7 P. bX 6( )B' +&&/A6'=0A8&' =6*'&)5> 8=K8

Date post:	06-Jul-2018
Category:	Documents
Upload:	tomaz-filho
View:	213 times
Download:	0 times

m206content.pdf

Documents