Planung und Betrieb von Logistiknetzwerken: Unternehmensübergreifendes Supply Chain Management (VDI-Buch) (German Edition) 3540229981, 9783540229988

Die Konzepte und Anwendungen des Supply Chain Management (SCM) werden auf Netzwerke erweitert. In der 2. Auflage werden

119 73 4MB

English Pages 368 [349] Year 2005

Report DMCA / Copyright

DOWNLOAD PDF FILE

Recommend Papers

Planung und Betrieb von Logistiknetzwerken: Unternehmensübergreifendes Supply Chain Management (VDI-Buch) (German Edition)
 3540229981, 9783540229988

  • 0 0 0
  • Like this paper and download? You can publish your own PDF file online for free in a few minutes! Sign Up
File loading please wait...
Citation preview

Knut Alicke Planung und Betrieb von Logistiknetzwerken

Knut Alicke

Planung und Betrieb von Logistiknetzwerken Unternehmensübergreifendes Supply Chain Management 2., neu bearbeitete und erweiterte Auflage

Mit 97 Abbildungen und 27 Tabellen

Priv.-Doz. Dr.-Ing. Knut Alicke McKinsey & Company Birkenwaldstr. 149 70191 Stuttgart

ISBN-10 3-540-22998-1 Springer Berlin Heidelberg New York ISBN-13 978-3-540-22998-8 Springer Berlin Heidelberg New York Bibliografische Information der Deutschen Bibliothek Die Deutsche Bibliothek verzeichnet diese Publikation in der Deutschen Nationalbibliografie; detaillierte bibliografische Daten sind im Internet unter abrufbar. Dieses Werk ist urheberrechtlich geschützt. Die dadurch begründeten Rechte, insbesondere die der Übersetzung, des Nachdrucks, des Vortrags, der Entnahme von Abbildungen und Tabellen, der Funksendung, der Mikroverfilmung oder Vervielfältigung auf anderen Wegen und der Speicherung in Datenverarbeitungsanlagen, bleiben, auch bei nur auszugsweiser Verwertung, vorbehalten. Eine Vervielfältigung dieses Werkes oder von Teilen dieses Werkes ist auch im Einzelfall nur in den Grenzen der gesetzlichen Bestimmungen des Urheberrechtsgesetzes der Bundesrepublik Deutschland vom 9. September 1965 in der jeweils geltenden Fassung zulässig. Sie ist grundsätzlich vergütungspflichtig. Zuwiderhandlungen unterliegen den Strafbestimmungen des Urheberrechtsgesetzes. Springer ist ein Unternehmen von Springer Science+Business Media springer.de © Springer-Verlag Berlin Heidelberg 2005 Printed in Germany Die Wiedergabe von Gebrauchsnamen, Handelsnamen, Warenbezeichnungen usw. in diesem Buch berechtigt auch ohne besondere Kennzeichnung nicht zu der Annahme, dass solche Namen im Sinne der Warenzeichen- und Markenschutz-Gesetzgebung als frei zu betrachten wären und daher von jedermann benutzt werden dürfen. Sollte in diesem Werk direkt oder indirekt auf Gesetze, Vorschriften oder Richtlinien (z.B. DIN, VDI, VDE) Bezug genommen oder aus ihnen zitiert worden sein, so kann der Verlag keine Gewähr für die Richtigkeit, Vollständigkeit oder Aktualität übernehmen. Es empfiehlt sich, gegebenenfalls für die eigenen Arbeiten die vollständigen Vorschriften oder Richtlinien in der jeweils gültigen Fassung hinzuzuziehen. Satz: Digitale Druckvorlage des Autors Umschlaggestaltung: Struve & Partner, Heidelberg Herstellung: PTP-Berlin Protago-TEX-Production GmbH Gedruckt auf säurefreiem Papier 68/3020/Yu - 5 4 3 2 1 0

5=G5=B JE= JG"/B"3 E)+"

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

>4'TY@NT'T ';8Z 8>%'> 8> '8; F N W>T'NOW!6T %8' WOY8N:W>4'> W>% & @4;8!6:'8T'> X@> \'>TN;'NS%'\'>TN;'N >,@NO'7 N'8TOT';;W>4 O@Y8' 4;@;'N W>% ;@:;'N ;>W>4F 8>' %'N &@4;8!6:'8T'>$ %8' !6,N4' ;O W';;' %'O O@4'>>>T'> W;;Y68B7-':T'OJ \W ''8>2WOO'>$ K 'OT'6T W WN %8' &'N %8' N'8O4'OT;TW>4F 8>%'> WT %6'N '8> @>\'BT ,& %[>4 W & 'N %[>4J W,F K WO YWN%'> \6;N'8!6' 'T8;X'N&>%'N7 W>4'>S7X'N'OO'NW>4'> X@N4'>@ NO>T'> >TY8!:;W>4'> 8> %'> >T'N>'6 '!6>W>4 \W TN4'>F & WN %8' ';8O8'NW>4 %'N \Y'8T'> W24' @7 WT@N'> O@Y8' WN V]]1

>WT ;8!:'

5=G5=B JE= "=>B"3 E)+"

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

J251G">K".,3.?FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF  ".1 3C">3",2"3?! F">*>".$"3 "? F771J ,.3 3*"2"3C 6

>F2 F771J ,.3 3*"2"3C - .3" .3$! F,>F3* F F F F F AFA N,6NW>4'> W>% N@;'4 X@> >,@N 8> %'N C;@:;'>D ;>W>4 F F F F F VFV @:;' 8';' 7 ;@:;' ;>W>4 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VFU  7 T'N8; 'HW8N'4 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VFUF3 N8T8: >  F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VF3  7 >W,!TWN8>4 'O@WN!' ;>>8>4 F F F F F F F F F F F F F F F F VF3FA 8>,!6'O 7 @%';; ,& WN  F F F F F F F F F F F F F F F F F F F F VF3FV NY'8T'NW>4 W< :W>%'>OB'\80O!6' W,TN&4' F F F F F F F F F F VF3FU NY'8T'NW>4 W< B;8T F F F F F F F VF3F3 NY'8T'NW>4 W< ;T'N>T8X' N@%W:T8@>ON'OO@WN!'> F F F F VF1 WO F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F UFV ;OO80:T8@> >!6  F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F UFU ;OO80:T8@> >!6   F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F UF3 WT\'> %'N ;OO80:T8@> ,& WN %8' ;>W>4 F F F F F F F F F F F F F F F F F F F UF1 '8TN'86'> F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F

VQ VQ V? UA UV U3

3 1



5*35?"-">$,>"3F3 "23 133.3*FFFFFFFFFFFFFFFF 3FA ;'8T'>%'NWN!6O!6>8TTFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 3FV ZB@>'>T8';;'O;& TT'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 3FVFA O'N,6N'>X@>@;TFFFFFFFFFFFFFFFFFFFFFFFFFFFF 3FVFV O'N,6N'>X@>8>T'NOFFFFFFFFFFFFFFFFFFFFFFFFF 3FU 'T6@%'%'N;8>'N'>'4N'OO8@> FFFFFFFFFFFFFFFFFFFFFFFFFF 3F3 8' 'T6@%'X@>N@OT@>,& WN'8TN'86'>FFFFFF 3F1 N@4>@O','6;'N FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 3FR @;;@NT8X''%;>>8>4FFFFFFFFFFFFFFFFFFFFFFFFFFF 3FRFA 44N'4T8@>W>%8O44N'4T8@>7'NT'8;W>4OBN@;'>8>4 FFFFFFFFFFFFFFFFFFFFFF 3FQ WO,".C F>, *">,1CF3*FFFFFFFFFFFFFFFFF 3? 1FA @48OT8O!6'N@%W:T8@>OBN8>\8B8'> FFFFFFFFFFFFFFFFFFFFFFFFF 1A 1FV 'T'N8OT8O!6'!6,N4'7W>%W;8','N7N@\'OO'FFFFFFFFFFF 1U 1FVFA 8'@BT84'7FFFFFFFFFFFFFFFFFFF 1U 1FVFV '>O8T8X8T& T%'N'OT';;0Z'> @OT'>W>% 4'N7 6;TW>4O:@OT'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 13 1FVFU 'Y'NTW>4%'O7 @%';;O FFFFFFFFFFFFFFFFFFFFFFF 11 1FU T@!6OT8O!6'!6,N4'7W>%W;8','N7N@\'OO'FFFFFFFFFFFFFF 1R 1FUFA '>>\6;'>\WN'OT8O\'8TFF RU 1FUF1 8!6'N6'8TO'OT& >%' '8 %8O:N'T X'NT'8;T'> ':T8@>O\'8T'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF R3 1FUFR 8!6'N6'8TO'OT& >%' '8 '6N,!6X'NY'>%W>4 CT& W!:;8OT'>DFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF R1 1FUFQ 8!6'N6'8TO'OT& >%''8 >8!6T>@N4'>7NOT\T'8;'S >4O%'N:T8@>'>%'NW;8','N'NFFFFFFFFFFFFFFFFFFFFFFF R( 1FUF? 8!6'N6'8TO'OT& >%''8'NY'>%W>4X@>N@4>@O'> FFFF R? 1F3 '6NOTW04'[OT'8>[OT'%'8>[OT'%'OT'OT>%0Z FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QA 1F1FV '8!6Y'8T'>@N8'>T8'NT'N8';'OT>%FFFFFFFFFFFFFFFFFF QV 1FR WO6>4\W B8T';1FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF Q1

FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF RFVFA T>%@NT'OT8%'N'>'CT'8>'N7''NDFFFF RFVFV T>%@NTWOY6;W,'T\'> FFFFFFFFFFFFFFFFFFFFFFFF RFVFU T>%@NTWOY6;W,O8OHW;8TT8X'NT'>FFFFFFFFF RFU WO%;4'>$T'> FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QFV 8;%W>4%'NT& W!:;8OT'W,%O @48OT8:>'T\Y'N:FFFFFFFFFFF QFU ;>7[7Z!'BT8@>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QF3 87%8N'!T8@>;6>4'N@B4T8@> FFFFFFFFFFFFFFFFFFFFFFFFF QF1 84'>O!6,T'>%'NN@%W:T'FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QFR 'N:>& WB,W>4X@> >@T'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QFQ 'N& W!:O8!6T84W>4X@> ''N4WTS %'68;,O484'& W;T84:'8T FFFFFFFFFFF QF? WOX@>W,TN& 4'>S@O8T8@>'>FFFFFFFFFFFFFFFFF QFA] '!6TW>4X@>N'48@>;'>N'8TO:;'>%'N>FFFFFFFFFFFFFFFFF QFAA @>T8>4'>T8'NW>4FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF QFAV >,@N%'NW>4'>'8>'NN@;;8'N'>%'>;>W>4OW,OOW>4X@> B8T';Q FFFFFFFFFFFFFFFFFFFFFFFFFFF

(U (3 (1 (Q (( ?] ?A ?V ?U ?1 ?1 ?R ?R ?Q

#

">F11H,.7-%"0CFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF ?? (FA 8OT@N8'%'OW;;Y68B7-':T'O FFFFFFFFFFFFFFFFFFFFFFFFFFFFFA]] (FV N& W>%',& WN%8'>TOT'6W>4%'OW;;Y68B7-':T'OFFFFFFFFFFFFA]A (FVFA @:;''NN'8TW>4%'N!6,N4'8>,@N'>FFFFFFA]V (FVFV W,TN4O& W>%';W>4 7 WO X@> 'OT';;W>4'>S @O8;%W>4 FFFFFFFFFFFFFFFFFFFFFFFFFFFA]R (FVFU N'8OO!6Y>:W>4'>$ '>4'>%'4N'OO8@>O'-':T'FFFFFFFFFA]( (FVF3 '>4'>:@>T8>4'>T8'NW>4W>%>4BOOB@:'NFFFFFFFFFFFA]? (FU >O& T\'\WN'%W:T8@>%'OW;;Y68B7-':T'O FFFFFFFFFFFFFFFA]? (FUFA @:;''NN'8TW>4%'N!6,N4'8>,@N'>FFFFFFAA] (FUFV W,TN4O& W>%';W>4 7 WO X@> 'OT';;W>4'>S @O8;%W>4 FFFFFFFFFFFFFFFFFFFFFFFFFFFAAV (FUFU N'8OO!6Y>:W>4'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAA3 (FUF3 '>4'>:@>T8>4'>T8'NW>4W>%>4BOOB@:'NFFFFFFFFFFFAAR (FUF1 W>T80\8'NW>4%'N8>OBNB@T'>\8;'FFFFFFFFFFFFFFFFAAQ (FUFR WO%'W>%'4'>6% ;>4,N8OT84'O 'NO!6Y8>4'> %'N 'OT';; FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAAQ (F3FA 'NW;;Y68B7-':TX@4%'N!6,N4'\WN'%W:T8@>%'OW;;Y68B7-':T'O FAVV



TN@;FFFFFFFFFFFFFFFFFFFFAVR (F( WO."3C.">C" 53K"7C.53 ">F771J,.3 FFFFFFFFFFAUA ?FA 8' 4'%'ON%'N'>'TNT8@>@8>TCD FFFFFFFFFFFFFFFAUV ?FAFA 8'N8!6T84'N@%W:T8@>OOTNT'48'8>6&>484:'8TX@> %''TNT8@>@8>T FFFFFFFFFFFFFFFFFFFFFFFAUU ?FAFV >BOO'>%'N 4'%'ON%'N'>'TNT8@>@8>TFFFFFFFAU1 ?FV B& T'N8>T'>8;%W>47@OTB@>'4%'NN@%W:T'W>% N@\'OO' FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAU( ?FVFV W>T80\8'NW>4%'N8>OBNB@T'>\8;'FFFFFFFFFFFFFFFFA3] ?FVFU '8T'N''8OB8';'W>%>N'4W>4'>,& WN@OTB@>'8>%8X8%W';;' OO'>BN@%W:T'7 OOWOT@ FFFA33 ?F3 8'N8!6T84'WBB;[68>,& WN%ON8!6T84'N@%W:T FFFFFFFFFFFA3R ?F3FA W>:T8@>;'W>%8>>@XT8X'N@%W:T' FFFFFFFFFFFFFFFFA3R ?F3FV .\8'>T'W>%N'OB@>O8X'WBB;[68>OFFFFFFFFFFFFFFA3Q ?F3FU W@N%>W>47%8'N8!6T84'WBB;[68>,& WN'8>N@%W:TFA1] ?F3F3 N8T8O!6'>\WN@4>@O'>'88>>@XT8X'> N@%W:T'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFA1A ?F1 O'7B@NT'N6>4\W B8T';?FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFA13

6L ."" "FCF3* ">C>F0CF>$! F> 5*.?C.03"CKH">0" FFFFFFFFA1Q A]FA 'N4;'8!6%'N8OTN8WT8@>OOTNW:TWN'>X@>C:;OO8O!6'>D >%';OW>T'N>'6'TO6@BO FFFFFFFFFFFFFFFFFFFFA1Q A]FV '>TN;XOF%'\'>TN;@N4>8O8'NT'8OTN8WT8@>OOTNW:TWN'>FFFFFA1? A]FVFA 8>OBNB@T'>\8;'%WN!6WOX@> T>%@NT'> FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAR] A]FVFV N@%W:T7W@N%>W>4C\'>TN;S%'\'>TN;D FFFFFFFFFFFFFFARV A]FU O'#'N4;'8!676@BOOTNT'48'>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFARR A]F3FA 8N':T';8','NW>4FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFARR A]F3FV N@OO%@!:8>4 FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFARQ A]F3FU 4'N6;TW>4 FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAR( A]F1 WO6>4\W B8T';A]FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAR? 66 5*.?C.?,">C3">?,$CFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAQA AAFA WOT8>8O'7FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFAQV AAFU .!8'>T@>OWO'7 FFFFFFFFFFFFFFFFFFFFFFFAQV AAF3 @>T8>@WO'B;'>8O6%@N >4'% >X'>T@N[7 FFFFFFFFFFFFFFFFFFFFFFFFFAQU AAFR @;;@NT8X';>>8>4$@N'!OT8>4>%'B;'>8O6'O;@48OT8O!6'>NT>'NO!6,TO:@>\'BT'OFFFFFFFAQQ AAF( '6NOTW04'NT>'NO!6,T7'N';8O8'NW>4X@>W>% FFFFFFFFFFFFFAQ? AAFA]8'X@;WT8@>X@;'N %'N;@48OT8O!6'>NT>'NO!6,TFFFFFFFFFFFFFFFFFFFFFFFFFFFFFA(A AAFAAWO">"??">F3* ">F771J,.3>5K"??" FFA(U AVFA N@\'OO4%'O7 @%';;O FFFFFFFFFFFFFFFFFFFFFFFFFA(R AVFV '>>\6;'>7[OT' >4'>\6;'>\WN'Y'NTW>4X@>WBB;[68>OFFFFFFFFA?] AVFVFU 8'W,TN4O%WN!6;W,\'8T;O '>>\6; FFFFFFFFFFFFFFA?] AVFVF3 ;'Z88;8T& T;O '>>\6; FFFFFFFFFFFFFFFFFFFFFFFFFFFA?V AVFU ;>!'%!@N'!N%8FFFFA?1 AVF3FA N@;'8:'> FFFFFFFFFFFFFFFFFFA?R AVF3FV NW>%8%''%'NT>X';@B:;'>'NTN&4'>8> %'N%%8T8X8'>7@N%W>4X@>7 @%';;'>FFFFFFFFFFFFFFFFFFFFFV]A AVF1 WOC"*.?," 3C">3",2"3?"3C?,". F3*"3 - 1.G"> .C"1H".3 6) ." FC?5F>.3*"3C?,". F3* .2 53C"IC "? F771J ,.3 3*"2"3C F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VAA A3FA 'N WTO@WN!8>47'4N8- F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VAV A3FV WO4>4OBW>:T %'O WTO@WN!8>47>TO!6'8%W>4OTN;' @T8X' ,& WN WTO@WN!8>46T80\8'NT' 8O:N'B>\,';%'N \Y8O!6'> %'> 8';'> W>% 8O8:'> '8 >8!6T 'N,@;4N'8!6'> WTO@WN!8>4X@N6'>VAR A3FU WTO@WN!8>47>TO!6'8%W>4O7@N4'6'>O4OB6O' FFFFFFFFFFFFFFFFFFFFFFFFFFVA( A3FUFV TNT'48O!6'>;[O'W>%OTNT'48O!6'>TO!6'8%W>4 FFFFVA? A3FUFU N@\'OO7W>% @OT'>>;[O' FFFFFFFFFFFFFFFFFFFFFFFFFVVQ A3FUF3 'NTN4OX'N6>%;W>4OB6O'W>%4W>%WTO@WN!8>47@>TN@;;8>4 FFFVUA A3F3 WO4%'O>TO!6'8%W>4O'Y'NTW>48:@>O8OT'>\X@>>TO!6'8%W>4'> FFFFFFFFVU? A1FAF3 T'>X'N%8!6TW>4'>T;>4%'N78'NN!68' FFFFFFFFV3] A1FV WOY'NTW>4W>%'>O8T8X8T& TO>;[O'FFFFFFFFFFFFFFFFFFFFFFFV3] A1FU 8>'\8'6W>4X@>NWBB'>7W>%ZB'NT'>'>TO!6'8%W>4'> FFFFFV3A ".1 55?"1J 5F71" G1F" 3"C? .3 "> .*,-", 3 F?C>." 3 >"? F?,.0 F3 3 ,F77"3"> 6A .3C">*>F3  55?"1J 5F71" 1F" "C? F F F F F F F F F F F F F F F F F V3Q ARFA >OT\ F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V3Q ARFV WOY8N:W>4'> W, %8' 'T'8;84T'> >T'N>'6 'N>:@\'> F F F F F F F F F F F F F F F F F F V1A ARFVFU 8'%N84'N' N>O:T8@>O7 \YF @@N%8>T8@>O:@OT'> F F F F V1V ARFU Y8O!6'>,\8T F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V1U 6@ 3H"3 F3* .3 "> .*,C",- 3 F?C>." "?.*3 $5> 55?" 5F71.3* F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V11 AQFA N@%W:T%'O84> W>% 'O!6-W>4 F F F F F F F F F F F F F F F F F F F F F F F F F F F V11 AQFAFA ;T'N>T8X'  F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V1R AQFAFV 'NY'>%W>4 X@> T>%N%7WT'8;'> F F F F F F F F F F F F F F F F F V1Q AQFV N@%W:T8@> F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V1Q AQFVFA '>'N8O!6' B\8T& T'> F F F F F F F F F F F F F F F F F F F F F F F F F F F F V1( AQFVFV WN>7:'[ 'NT84W>4 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V1( AQFVFU :T8X'O B\8T& TO4'O>'T\Y'N: F F F F F F F F F F F F F F F F F F F F VRA AQF3 ;>W>4 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F VRA AQF3FA [>!6N@>8O8'NT' >,@N F F F F F F F F F F F F F F F F F F F F F F F F F VRU AQF3FV Z!'BT8@>7 W>% 8,'![!;'7 >4'TFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQV 6# 5>F??"CKF3*"3F3 >$51*?$0C5>"3FFFFFFFFFFFFFFFFFFFFFFVQ1 A(FA @O8T8@>8O\[:;WO FFFFFFFFFFFFFFFFFFFFFFFVQ1 A(FV N@%W:TNTFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQ1 A(FU >8T8T8X'FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQR A(FUFA  FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQQ A(FUFV @>TN:T,'NT84'NS @48OT8:%8'>OT;'8OT'NSW;8','N'N FFFFVQQ A(FUFU @>7BN@0TN4>8OT8@>'>FFFFFFFFFFFFFFFFFFFFFFFFFFVQQ A(FUF3 B'\8;7>8'T'N FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQ( 64 K.C FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFVQ? ".1  F5 G .? F771J ,.3 3*"2"3C "1.I .3 "233 EL >F2 ".*"3C1., .3 11"> F3 " F771J ,.3

3*"2"3C< F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V(U E6 "> VAFA VAFV VAFU

>'3 "> "? F771J ,.3 3*"2"3C F F F F F F F F F F F F F F V(1 @@N%8>T8@>O7 W>% ;>W>4OBN8>\8B8'> F F F F F F F F F F F F F F F F F F F F F V(Q 8'NN!68O!6'O @@N%8>T8@>OBN8>\8B F F F F F F F F F F F F F F F F F F F F F F F V(Q 'T'NN!68O!6'O @@N%8>T8@>OBN8>\8B F F F F F F F F F F F F F F F F F F F F F F V(?

EE ">,1C"3?$5>2"3 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F V?A VVFA '\'>TN;' ;>W>4$ ;@:;' >,@N# @W;' N48>;8\T8@>V?A ED 151" 13F3* F3 1501" F?$! F,>F3* F F F F F F F F F F F F F F F F F F F V?1 VUFA O '%'WT'T 4;@;' ;>W>4I F F F F F F F F F F F F F F F F F F F F F F F F F F F V?Q VUFV 8' ;@;' >,@NO'N'8TOT';;W>4 F F F F F F F F F F F F F F F F F F F F F V?( VUFU [OT'< [>'N X8'NOTW04'> WBB;[68> F F F F F F F F F F F F F F F F F U]] VUF3FA 8' WBB;[ 68> F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F U]] VUF3FV NY'8T'NW>4 %'N >,@NOO8O# @7 W>% !6,N4'%T'> F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F U]V E) "> V3FA V3FV V3FU

">C "> 3$5>2C.53 F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F U]1 O 8%';' 'T\Y'N: F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F U]1 O >4BOO7'T\Y'N: F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F U]( ;O@ ;;'O ;@:;$ @%'N YOI F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F F UA] V3FUFA NW>%7 W>% @>%'NBN@\'OO' F F F F F F F F F F F F F F F F F F F F F F F F F UA] V3F3 O 8;'4'4FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUA3 V3F1FA [>4FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUA3 V3F1FV [>4FFFFFFFFFFFFFFFFFFFFFUA3 V3FR 'OT'W'NT' W>%'>'%& WN,>8OO'7N%84Y'>%W>4X@>[>4W>%%'O[7@7 N8>\8BOFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUAR V3FQFA B\8T8'NT'O @%';;FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUAQ V3F( @>\'BT'8>'O;>>8>4WFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUA? E( ">37F30C" "?F771J,.3 3*"2"3CFFFFFFFFFFFFFFFUVU V1FA '%W:T8@>W,%O'O'>T;8!6'FFFFFFFFFFFFFFFFFFFFFFFFFFFFUVU V1FV >,@NFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUV3 V1FU @;;@NT8@>FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUV3 3,3*?"">*2" FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUVQ 3,3*>".?'3 F3*.2.3-3C">3",2"3-11FFFFFFFFFFFFFUV? 3,3*%"0C"G535F1" >*.31.KC.53FFFFFFFFFFFFFFFFUUA .C">CF> FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFUUU FC5>"3FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFU31 3 "IFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFU3Q

I251F"=J"/-3/>

  + !  ! 4C-D  -   C!D  "F FC>D FFC>D 32 " ! !' !+ != # #8 C!D  %-- . & ' )C!D )

4'>TWN:@OT'>NT

'>4' %'N ;T'N>T8X'>

TN8Z %'N ;T'N>T8X'>'Y'NTW>4'> %'N '>' : >T'>O8T& TOY'NT %'O 'N4;'8!6'O C ! D 8N':T'%N,O:@'.\8'>T N@%W:T '8>'N W,TN4OB@O8T8@> ;& TTW>4O,:T@N$ \YF 'NX8!';'X'; & W!:OT>% C!:;@4D ;& TTW>4O,:T@N$ \YF 'NX8!';'X'; N>OB@NT:@OT'>OT\ @OT'> '8T6& >484' B\8T& T %'N N@%W:T8@>ON'OO@WN!' , @>O8OT'>\8>%'Z '8>'N 7'Y'NTW>4O @>O8OT'>\X'N6& ;T>8O '8>'N 'Y'NTW>4O 'NNW!6 %'N N@%W:T8@>ON'OO@WN!' , ,& WN %8' 'NOT';;W>4 X@> N@%W:T * '%N, N8%& N'%N, %'O N@%W:T'O * N8T64'> NYNTW>4OY'NT !@>@ 'N8@%' = ,& WN 'N8@%' = G > NWTT@'%N, %'O N@%W:T'O * 'NX8!';'X'; & W04:'8T 4'N6;TW>4O:@OT'>OT\$ \YF N';T8X' .\8'>\ '8>'N >TO!6'8%W>4O'8>6'8T



X:>9U&KY&6!4%'Z%'NN@%W:T' 'OT>% !6';@>7'OT>% 0Z'N'OT>% 8';7'OT>% >%'Z%'NN@%W:T8@>ON'OO@WN!'> 8Z' @OT'> ':T8@>O\'8T

8TT;'N'O@;WT'Y'8!6W>4$ '>O@;WT''X8T8@>

8TT;'N'HW%NT8O!6'Y'8!6W>4$ '>HWN'NN@N @N4$ !6N:T'N8O8'NT %WN!6 8TT';Y'NT != W>% T>%N%Y'8!6W>4 ;

'>4' %'N !6,@;4'N X@> >@T'> , 'TT@'%N, %'O N@%W:T'O * >\6; 6NO!6'8>;8!6:'8T >X'NO' %'N T>%N%>@N4 6NO!6'8>;8!6:'8T ,& WN %O 8>TN'T'> %'O 'NT'O B 'OT';;\8>%'Z X@> W,;;O%N%Y'8!6W>4 'N8@%'>8>%'Z W>%'>YW>O!6T'N >%T'N C4'B;>T'D 8'4'7$ \YF @N'N'8TW>4O\'8T '8!6Y'8T' TNTT'N @N;W,\'8T 'Y8!6TW>4O,:T@N WON8>4W>4 @@N%8>T'> '8>'O T>%@NT'O 8> %'N '>'

'>4' %'N @N4& >4'N X@> >@T'> , 'Y8!6TW>4O,:T@N N8T8@>O:@'.\8'>T N88;8T& T 'OW;T8'N'>%'N ':T@N ;O N4'>8O '8>'N 7>TO!6'8%W>4 ;T'N>T8X'>4'Y8!6TW>4OX':T@N WO %'N 84'>Y'NT>;[O' %'O *7T'> N8T'N8WT8X'>T'> '8>'O T>%@NT'O 8> %'N '>' 'OT';;% 'N8@%' =

8>%'OTBN@%W:T8@>OC'OT';;D9U&KY&6!4%'4N& @5' N8>\

'%8> W,TN4OOB;8T 8!6'N6'8TO,:T@N >TO!6'8%W>4OXN8;',& WN '>4'>OB;8T



"/1

3B"=3"-2"3>E !"=+="/$"3 "> E771I -/3

3+"2"3B

6 =E2 E771I -/3 3+"2"3B . /3" /3$E ! -=E3+

O X'N8N4T O8!6 68>T'N WBB;[ 68> >4'WN '8> Y'8T'N'N N'>% 8> %'N @48OT8: Y8' \WX@N %8' 6'$ 8$  @%'N I %'N 8OT WBB;[ 68> >4'' &@4;8!67 :'8T$ W< >T'N>'6T8'NT$ 4>\6'8T;8!6 W>% X@N ;;'< W>T'N>'6% \W B;>'> W>% \W OT'W'N>I >,>4 %'N ?]'N ,& W6NT'> ''>48>''N8>4$ W>& W'N;'4T' 'OT>%ON'%W:T8@>$ %8' \W>'64 %'N 'NT84W>4OT8',' %WN!6 WTO@WN!8>4 \W WB7 B;[ 68>O >\6; TW,'>F '8T'N68> 'N6&@6T' O8!6 %WN!6

W;T87 W>% ;@; @WN!8>4 %'N N% %'N 'N>'T\W>4F N@%W:T' Y'N%'> \W7 >'6 >T'N>'6 > 6'N4'OT';;T$ WO4;'8!6O;8','NW>4'> O@Y8' ;T'N>T8X' 'O!6-W>4O7 W>% 8OTN87 WT8@>OY'4' O8>% 8>\Y8O!6'> T>%N%F %WN!6 '>TOT'6'> >'W' !6>8TTOT';;'> \Y8O!6'> >T'N>'6'N WBB;[ 68>F 'N%'> O8' >8!6T 8> '8>' BN@\'OO7 @N8'>T8'NT' ;>W>4 W>% T'W'NW>4 8>T'4N8'NT$ 8OT %'N W;;Y68B7-':T$ %'N %8' & 'NN':T8@> %'N >T'N>'6'N WBB;[ 68> W, WOO!6;&4' 8> %'N W>%'>>!6,N4' 'O!6N'8T$ 6'WT' X8';'N@NTO '8>' @;4' %'N >8!6T '6'NNO!67 T'> @T'N>'6 O8!6 4'4'> %8'O' !6,N4'O!6Y>7 & & :W>4'> W>%S@%'N 'N'OT& >%'> F 8'O' 5>6 9'%@!6 %'> >,@N%'NW>4'> > WBB;[ 68>O$ %8' W, :WN\' ''>O\[:;'>$ OTN: O!6Y>:'>%' !6,N4'> 'T!F %&HWT N'48'N'> O@;;'>F 8'O 48;T 8>O'O@>%'N' ,& WN 6@!6%[> Y8' %8' WT@OW 'OT';;'> 8> 8 '>4'>$ %8' N>OBN'>\ %'O N:T'O W>% % N@%W:T'>S8'>OT;'8OTW>4'> 6T %WN!6 %O >T'N>'T %NOT8O!6 \W4'>@4'> :& @>>'> >WN 4'BOOT'> W>% % 'N,& W;;T Y'N7 %'>$ O8'6' C W;>8 W>% '' V]]VD W>% CN>@;% V]]ADF 8>' \'>TN;' %'' %'O WBB;[ 68> >4'%'> TNW:TWN'> O@Y8' %8' T@!6OT8: %'N %[>$ \YF \W N'%W\8'N'>$ O8'6' C;8!:' V]]VDF 'WT' '>TO!6'8%'T %8' ':7

0

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

6:6 =$-=E3+"3 E3 =51"2" "/ "= /3$E ! -=E3+ F53 E771I -/3 3+"2"3B 53J"7B"3 < @;4'>%'> Y'N%'> N,6NW>4'> W>% N@;'!6 C '' W>% 8;;8>4T@> A??VDD %N4'OT';;T$ %8' ;O 8>OT8'4 ,& WN %8' ,@;4'>%'> B8T'; %8'>'># 





>'.\8'>T' >,@NOO[OT'' :@@N%8>8'NT'> '7 OT>%O,& W6N'>%'> [OT' N@%W:T8@>O7 W>% 7 4'NOT& TT'>F '8>' '!6TW>4 X@> T@!6OT8: 7 %'N W>%'>'%N, W>% %8' 'O!6-W>4O7 $ N@%W:T8@>O7 W>% 8OTN8WT8@>O7N@\'OO' Y'N%'> T'4'O'6'> W>% W!6 O@ 4'B;>TF W '8>,!6' W>% 4'>'N;8O8'NT' 4'N6;TW>4OOTNT'48'> 7 >Y'>%W>4 X@> X'N'8>,!6T'> N,6NW>4ON'4';>$ %8' N W, '8> 4N@5'O N@%W:T7$ W>%'>7$ \YF W;8','NOB':TNW< >4'Y'>%'T Y'N%'>F

?DS &K T*T $6&L&L T!4&L





 

    

.

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

6:D "= E$E

/">"> E-">

8'O'O W!6 N8!6T'T O8!6 > ;;'  7 >T'N'OO8'NT'>$ O@Y@6; > %8' 8> %'N NZ8O$ O@Y8' > %8' 8> %'N @NO!6W>4 N'8T'>%'>F 8' ,@;4'>%' :WN\' W7 O' 8>@N%W>4F 8' BF V 8O 1 O8>% 4NW>%7 ;4'>@N8'>T8'NT W>% 8;%'> %8' HW>T8TT8X' O8O ,& WN %8' 8> %'> Y'8T'N'> BF R 8O AV '8>4',& W6NT'> @>\'BT'F E 501" 13F3* - .3 1.0 .3

." ">*3*"3,".C

>T'N>'6 O!6@> 88!6T 'NOT O'8T %'N '4N8- WBB;[ 68> >4'%>8O %'N 8OT@N8' Y'N%'> 8> %8'O'< B8T'; %8' '%'WTW>4 %'N >,@N 6'NWO4'OT';;T O@Y8' :;OO8O!6' ;>W>4OX'N,6N'> Y8' T'N8; 'HW8N'4',& W6NTF

O

? KT: T@@9X 46<  O8>% T'> \W 'O!6-'> W>% \W >;[O8'N'>F ''> %'> NW>%;4'> ;8'4T '8> Y'O'>T;8!6'N @:WO %8'O'O B8T';O W, %'N ;OO80\8'NW>4 %'N N@%W:T' >!6 '>>\6;'> Y8' 'NT$ @OT8\8'NN:'8T 8>  F O '>TOT'6'>%' @NT,@;8@ 8;%'T %8' O8O ,& WN Y'8T'N' >;[O'> W>% %8' >Y'>7 %W>4 X@> @>\'BT'>F ) >5*35?"-">$,>"3 F3

"23

133.3*

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

@%';; >!6 T'8>'NS''N$ %O CB!8TT'%D N'6@WO' @!T8@> N@;'< ,& WN %8' T>%@NTY6; W, 'T\'>$ O@Y8' %8' T>%@NTY6; O8'N'>% W, HW;87 TT8X'> T'> Y'N%'> %N4'OT';;TF

?DS &K T*T $6&L&L T!4&L

N

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

"> F771J ,.3

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

D 501" 13E3+ . "/3 1/0 /3 /" "=+3+"3-"/B

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

D:6 /" " "EBE3+ F53 3$5=2B/53 /3 13E3+

"= 81501"39

O Y8!6T84OT' WT 8< WBB;[ 68> >4',@NF 'N%'> >,@N'> 8> !6T\'8T %WN!6 %8' 4'O%' '8>OBN'>$ WOT\TN>OB@NT' N'%W\8'N'>$ 'NO!6N@TTW>4 X'N W>% %' 'N6& @6T' W>%'>\W,N8'%'>6'8T$ 'NN'8!6'>F

?Z

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

');+$ :2.2 6& 9>89& 9%'>F @> ;@:; \YN N'48'NT Y'N%'>$ %8' 'TT' Y8N% 9'%@!6 8 COTN: O!6Y>:'>%'>D W>%'>>!6,N4'> 8OT %8'O :'8>' :\'BT;' 8TWT8@>F

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

'%' %8'O'N W>:T8@>'> X'N,@;4T '84'>' ;@:;' 8';' W>% C;>W>4$ N@%W:T'8>,& W6NW>4$ 'N':'$ $ ;@:;'> '>>\6;'>F 'N 052H% Y8N% X'NOW!6'>$ 4'> '8>'O N@%W:T'O '8>7 \W:W,'>$ W< '>4'>%'4N'OO8@>O'-':T'$ O@4F '!@>@WT7 K \'>F 8'O' 'O!6-W>4 4N@5'N '>4'> ,& W6NT 8< 8TT'; \W 'N6&@6T'> 'OT&>%'>F 8' ?7!H2E075 Y& W>O!6T O8!6 '8>' T'>\6;$ W< %8' X'NY'>%'T'> N@%W:T8@>ON'OO@WN!'> %WN!6 'NT84W>4 X@> 4N@5'> @O'> 4 ,& W6NT Y8'%'NW< \W< W,7 W X@> 6@6'> 'OT& >%'>F 8' 7,0@E02 O!6;8'5;8!6 Y8;; N@%W:T'$ %8' 4WT 6>%6N$ '8>,!6 \W ;7 4'N> W>% \W TN>OB@NT8'N'> O8>%F 8> \'>TN;'O N@;'< X@> X8';'> @48OT8:7 T'8;W>4'> 8OT %O 'NOT& >%>8O X@> 'OT>%$ Y8' %8' ,@;4'>%' >':%@T' \'84TF ".?7."1 6 < $&K &KQ61T69YT96&*&K&KL 6LQ &6< 6QK&65 Q&K *% TK $6& 1&KT% #?E?0# N8!6T'> O8!6 >!6 %'> & W>O!6'> %'N W>%'> W>% X'NOW!6'> ;;'O$ W< %'> W>%'>YW>O!6 \W 'N,& W;;'>F 8';' O8>% '8OB8';OY'8O' '8>' :WN\' WN!6;W,\'8T W>% '8>' 2'Z8;' N@%W:T8@> W>% 8OTN8WT8@>$ % &>%'> 6&;TF

?S

S >89& 9% Y@;;'> 4'N8>4' 'OT& >%' W>% 6@!6 WO4';OT'T' N>OB@NT28:T' Y8' '8OB8';OY'8O'  



8'%N84' 'OT& >%'$ 4',@N%'NT X@< @>TN@;;8>4 X'NOWO 4',@N%'NT'N 8','N,&6847 :'8T$ %8' X@> %'N @48OT8: W >%' 4'O8!6'NT Y'N%'> O@;;F &'N 6@6' 'OT& O @>TN@;;8>4 ,@N%'NT W;; NW!: @% W>% OT'6T %%'>Y& W>O!6' W!6 'OO7T6>7NW!: @% C  D 6NT'> '8>4'O'T\T Y'N%'>F 8' N@%W:T8@> Y8;; $ YO Y8'%'NW< %'< 8\8B %'O 'NTN8'O Y8%'NOBN8!6T$ %'>> 68'N 8OT '8>' O!6>';;' ':T8@> 4',N4TF

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

D:C  . B"=/1 ";E/="2"3B 133/3+ N& W6'N >WT\T'> >T'N>'6W>4 X@> @'>T'>$ O@>%'N> %8' 8> BF 1 X@N4'OT';;T'> 4'N6;TW>4OB@;87 T8:'>F 8'O 8T'>S@NBN@%W:T'> ;O W>6& >484 X@> %'< '%N, %'N >%BN@%W:T' >4'>@&@T84$ %8' 9'Y'8;O ?1E X'N,& W4N O8>%$ :>> %O >%BN@%W:T 4 * ] ?1  ] UR$ %F6F ;O@ URE BN@%W\8'NT Y'N%'>F W!6 Y'>> %8' 'N,& W4N:'8T %'N @NBN@%W:T' W, ??E OT'84T$ :>> %O >%BN@%W:T >WN 4 * ] ??  ] (A BN@%W\8'NT Y'N%'>F 'N >OT\ %'O E#?03 #=H0?#4#5E 35505, C D B;>T ND W>6& >484' '%N, 8> '8>'> 6&>484'>

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

'>4' " \WO F VFV 8OT ,& WN  %8' '>4' %'N %8N':T'> !6,@;4'N  *  $ %8' '>4' %'N %8N':T'> @N4&>4'N  *   F

> OBN8!6T 6& W04 X@> >%BN@%W:T'>$ ;,N8:T'>$ @'>T'> W>% W,T'8;'>F 8> >%BN@%W:T + 6T :'8>'> !6,@;4'N ! *  CD$ '8> W,T'8; * 68>4'4'> :'8>'> @N4& >4'N  *  C\FF  DF > N'8>'> 8OTN8WT8@>OOTNW:TW7 N'> 0>%'T W!6 >%BN@%W:T' +$ %8' :'8>'> @N4&>4'N 6'> ! * F T& W!:;8OT'> Y'N%'> W>T'NO!68'%'> 8> CO8'6' W!6 F VFUD 



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

(

.

Q

R

G

.

P

.

R

Q

Y

H

U J

L H

U H

Q

G '

L Y

H

U J

L H

U H

Q

G

*

H

Q

H

U H

S

D

S

U R

X

R

G

Q

I W H

H

X

N

Q

W H

W H

Q

L O H

O O

');+$ :292 >'O N@%W:T'O 8> %'> '\8'6W>4'> \W %'> @'>T'>$ Y8N% ,& WN 9'%' N8>T' '8>' '84'>' T& W!:;8OT' >4';'4TF '8 'ZTN'< XN8>T'>N'8!6'> N@%W:T'>$ Y8' '8OB8';OY'8O' WT@O$ 8OT 'O >8!6T O8>>7 X@;;$ ,& WN 9'%' N8>T' '8>' '84'>' T& W!:;8OT' \W %'0>8'N'>F @ Y& WN%'> '8OB8';O7 Y'8O' '8 V] N'>$ AV @T@NXN8>T'>$ V1 W>T'NO!68'%;8!6'> >>'>WOOTT7 TW>4'>$ 3 ;8;4'> W>% %'N >T'NO!6'8%W>4 8> '!6TO7 W>% 8>:O;'>:'N

SDR  5 Q&K69 &FT6K&:&4'O'T\TF 8' N8>T'> Y'N%'> W, @'>T'>''>' C @T@N$ 'TN8''$ ;8;4'D 4'OB'8!6'NT W>% >O!6;8'5'>% \W '8>'< >%BN@%W:T$ & 6>;8!6 '8>'< W:OT'>$ :@>04WN8'NTF 8>' W'N 4'4''>'> '>4' > @'>T'> %8' WN'> >%BN@%W:T' \W 'OT87 OT\ '8 >4BOOO8TWT8@>'> %'N T'N8;X'N,& W4N:'8T \WN Z8 W,TN& 4' >4'Y'>%'TF E:D:E >FCC5- F3

"CC5" >$?">2.CC1F3*

!6,N4'> @%'N 'OT';;W>4'> %'N >%:W>%'> Y'N%'> ;O N8 '>4;F BN8%BN@%W:T' W>% 8< NOT\T'8;4'O!6&,T W!6 @'>T'> @%'N W,T'8;' Y'N%'> X@> %'> W>%'> >!64',N4T$ %F6F N8%BN@%W:T'>$ @'>T'> W>% W,T'8;'> W,TN'T'>F '7 :W>%& N'%N, Y8N% X@> '8>'< !6,@;4'N:>@T'> %'N T& W!:;8OT' WO4';&@OT$ TN8TT ;O@ >WN '8 @'>T'> W>% W,T'8;'> W,$ >8!6T 'N '8 >%BN@%W:T'>F 'N NWTT@'%N, & C'>4;F 4N@OO %'%D '8>'O N@%W:T'O * 8OT %8' W%& N'%N, '< :T@N ? ,& %8' WO'WT' F 'TN& 4T %8' WOO!6WOOHW@T' A]E 8OT %8' WO'WT' ? * ] ?F WN '!:W>4 '8>'O N8 A]]E F & WN %'> NWTT@'%N, 'N48T O8!6 & * C!' G !+ D ! CA