A"ribu'on-ShareAlike 4.0 Interna'onal (CC BY-SA 4.0)
Vol.%%04,%No.%01,%January%2024%
e-ISSN:%2807-8691,|,p-ISSN:%2807-839X$
!
"#$$%!!"#$%&&
&''()*++,-./-0#+12/34566+.7))0/83.21/441%
This%work%is%licensed %under%a%Attribution-ShareAlike%4.0%International%(CC%BY-SA%4.0)
Batee%Jirat-Batu%Aceh%Islamic%Gravestones%in%Sultanate%
Banten%Building%New%Historiography%Aceh%and%Banten%
Relationship%
!
$'()'*!+(),)'
1
-!.)/0'(
2
-!.01'2)(
3
-!3'4)!+56'4)
4
-!+78)9!+:9'8
5&
9:)'.';'%<$=:->-#.%,":%?.):.)%@.).%A;)":'"0"%?-#-0B%9:,-:$)."
1,2,3,4,5
%
CD".>%*%)"0."'"0.E."F4G#D".>/H-D%
Keywords)
!
+;$<%+=<!
!"#$%&%$'()%&$'&*()%&$'&(+,&-./0*(
12'3(!"#$%&%$'*(45#%0,2(67%8'5$/&'*(
!9,2'(:7%.'*()%$''(;,7%$()%$"(12'3<)
%
!"#$%&' (%")$*+' ,-+-%,.#' #%+' /,01)2-2' %' .3-%,' /)."4,-' 05' "#-'
)&634-&.-' 05' 7.-#&-+-' +"0&-+8' 9#).#' %,-' +0' %: 4&2%&"' )&' "#-'
;%3%<+)%&'/-&)&+43%8':4"'0&'"#-'0"#-,'#%&28'"#-,-')+'+")33'%'&--2'"0'
.%,,<' 04"' %' $0,-' )&=2-/"#' .0$/%,%") 1-' +"42 <' ,->%,2)&>' "#-'
-?)+"-&.-' 05' +)$)3%,' "0$:+"0&-+' )&' @&20&-+)%8' -+/-.)%33 <' 0&' "#-'
)+3%&2' 0 5'A%1%B'!&'"#-')+3%&2'05'A%1%')"+-358'"#-'C43"%&%"-'05' D%&"-&')+'
"#-' 0&3< ' E)&>20$' 9#0+-' +43"%&+' 0,' E)&>+' #%1-' 4+-2' D%"--' A),%"'
D%"4' 7.-#' "</030><' "0$:+"0&-+' 50,' >-&-,%")0&+8' 5,0$' "#-'
:->)&&)&>' "0' "#-' -&2' 05' "#-' C43"%&%" -B' F#-,-50 ,-8' .0$/%,%")1-'
,-+-%,.#'9%+'.%,,)-2'04"'0&'+)$)3%,'"0$:+"0&-+')&'7.-#8'%&2'"#-&'
%&'%&%3<+)+'05'"#-',-.0&+",4.")0&'05'/%+"',-3%")0&+':-"9--&'7.-#'
%&2'D%&"-&8'%+'"#-'D)>'C/).-'G)"<8'9#).#'%3+0'/3% <-2'%'$%H0,',03-')&'
"#-'+/,-% 2 '0 5'@+3%$')&'@&20&-+)%8'9%+'.%,,)-2'04"B'
!
!
!
INTRODUCTION)
<&$% #0"8$)% -I% 9)>"D.H% $>.'$)B% ./$/% J;>'":% -0% K.:#% -0% '&$% <0$");0$0% .:% J-;'&$")'% L)."B% M$'N$$:%
($0.-,)%-I%<.D$%M$'N$$:%13
th
%O16
th
%P$:';0QB%#0",;">>Q%;)$,%'-DM)'-:$)%N&.H&%N$0$%0$I$00$,%'-%")%'&$%
?"';% LH$&% 'Q(->-#Q% RJ.0$#"0B% S2STU/% <&$% )'-:$% .)% H-:).,$0$,% '-% &"8$% -0.#.:"'$,% I0-D% LH$&% ":,% '&$:%
$:'$0 $,%">>% (>"H$)%.:%J-;'&$")'%L)."% N&$:%'&$%LH$&:$)$%.:E>;$:H$%)(0$",%'&0-;#&-;'%J-;'&$")'% L)."/%
V'&D":%W"'.D% JH&->"0% I0-D% X">"Q)."B%'&$:%I-0D;>"'$,%13%'Q($)%-I%LH$&:$)$%)'-:$/%L>'&-;#&%'&$Q%"0$%
H-:).,$0$,%'-%&"8$%'&$%)"D$%'Q($%.:%I;:,"D$:'">)B%'&$%,$H-0"'.-:%D"Q%8"0Q/%
C8$:% '&-;#&%'&$Q% "0$% H">>$,%?"';%LH$&B% .:%LH$&%.')$>IB%'&$%'-DM)'-:$)%"0$% :-'% =:-N:%")%?"';%LH$&/%
9:%I"H'B%.'%.)%=:-N:%")%?"'$$%Y.0"'/%<&$%)'-:$%.)%D",$%.:%"%H$0'".:%)&"($B%$.'&$0%N.'&.:%'&$%LH$&%-0%-;').,$%
'&$%LH$&%0$#.-:B%":,%.:%'&$%($0.-,%M$I-0$%-0%"I'$0%'&$%LH$&%Z"0;))">"D%K.:#,-D/%<&$%J;>'":[)%#0"8 $Q"0,%
.)%:-'%'&$%)"D$%")%'&$%'-DM)%-I%-'&$0%-0,.:"0Q%($-(>$/%\-0%$]"D(>$B%'&.)%,.II$0$:H$%H":%M$%)$$:%'&0-;#&%
'&$.0%#0"8$)B%N&.H&%"0$%(>"H$,%.:%"%&.#&$0%(>"H$%'&":%'&$%);00-;:,.:#%>":,B%I-0%$]"D(>$B%-:%"%&.>>/%<&$%
J;>'":[)%'-DM%H-D(>$]%">)-%;);">>Q%&")%0.H&%,$H-0"'.-:%-:%'&$%'-DM)'- :$)/%<&.)%,$H-0"'.-:%.)%,-D.:"'$,B%
"D-:#%-'&$0%'&.:#)B%MQ%E>-0.)'.H%":,%":'&0-(-D-0(&.H%,$H-0"'.8$%("''$0:)%RJ.0-7;,,.:B%S213U/%
?$H";)$%'&$)$%#0"8$)'-:$)%"0$%I-0%J;>'":)B%.'%.)%:-'%);0(0.).:#%'&"'%'&$%"0'%-I%'-DM%,$).#:%":,%
,$H-0"'.-:%.)%":% $>.'.)'%"0'.)'.H%(0-,;H'/%9')%:"';0$%.)%8$0Q%>.D.'$,B%)QDM->.^.:#%&-:-0B%,.#:.'QB%(-N$0B%":,%
J(.0.';">.'QB% ")% N$>>% ")% '&$% J;>'":[)% H&"0.)D"/% <&$% J;>'":% .)% :-'% 7;)'% "% 0;>$0% M;'% ">)-% "% 0$#;>"'-0% ":,%
(0-' $H'-0%-I%0$>.#.-:B%_-,[)%#;"0,.":%I-0%N-0>,%":,%0$>.#.-;)%"II".0)B%")%N$>>%")%"%);((-0'%":,%&-($%":,%"%
H-::$H'-0%-I%_0"H$%I-0%'&$%($-(>$%RJ;:":,"0B%S21`U/%
V:$%-I%'&$%9)>"D.H%);>'":"'$)%-:%'&$%.)>":,%-I%Y"8"%.)%'&$%?":'$:%);>'":"'$B%N&.H&%N")%I-;:,$,%
"0-;:,%1FFS%N.'&%J;>'":%X";>":"%a")":;,,.:%")%.')%0;>$0%":,%$:,$,%N.'&% J;>'":%X;&"DD",%b"E.[;,,.:%
.:%1`S2%R\",.>>"&B%S2STc%J;&"$,.B%S216U/%C8$:% '&-;#&%'&$0$%N$0$%D":Q%9)>"D.H%=.:#,-D)%.:%Y"8"B% :$.'&$0%
'&$%Z$D"=B%X"'"0"DB%_0$).=%:-0%P.0$M-:%);>'":"'$)%;)$,%'&$%?"'$$%Y.0"'%?"';%LH$&%'Q(->-#Q/%V:>Q%'&$%
J;>'":"'$%-I%?":'$:%;)$)%.'%H-:'.:;-;)>Q%R_&"II"0B%S21Fc%d"DM-;0:B%S223c%X;="00-DB%S213U/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%&C
<&$0$I-0$B% N$% N":'% '-% 0$H-:)'0;H'% '&$% 0$>"'.-:)&.(% M$'N$$:% LH$&% ":,% ?":'$:% .:% '&$% (")'B%
'&0-;#&%E.0)'%N$%N":'%'-%H-:,;H'%"%H-D("0"'.8$%)';,Q%-I%'&$%J;>'":"'$%<-DM)'-:$%.:%?":'$:%N.'&.:%LH$&B%
":,%'&$:%N$%N.>>%0$8.$N%'&$%0$>"'.-:)&.(%M$'N$$:%LH$&%":,%?":'$:%M")$,%-:%D":;)H0.(')%":,%(0.D"0Q%
)-;0H$)%"'%'&"'%'.D$/%
!
METHODS)
<&.)%e;">.'"'.8$%0$)$"0H&%D$'&-,%.)%M")$,%-:%#0-;:,$,%'&$-0Q%RJ'0";))%":,%P-0M.:%D$'&-,U%":,%
'&$% "((0-"H&% H">>$,% MQ% !0-I/% Z0/% X;"0.I% LDM"0Q% 9:,-% 9)>"D.H% "0H&$->-#Q/% 9:% );DD"0QB% .:)'$",% -I%
H-:E.0D.:#%'&$%$].)'.:#%'&$-0QB%'&$%"((0-"H&%N.>>%(0-,;H$%"%:$N%-:$/%<&$%&.)'-0.H">%,"'"%'-%M$%(0-,;H$,%
H":%M$%8$0Q%,.II$0$:'%I0-D%N & "'%&")%M$$:%H.0H;>"'$,%":,%'"=$:%0--'%.:%)-H.$'Q/%
9:%,-.:#%0$)$"0H&B%'&.)%D$'&-,%.:H>;,$)%E.8$%N-0=%)'"#$)*%&$;0.)'.H)B%H0.'.H.)DB%.:'$0(0$'"'.-:B%":,%
&.)'-0.-#0"(&Q/% a$;0.)'.H)% "0$% )$"0H&.:#% ":,% #"'&$0.:#% )-;0H$)/% <&$% E.0)'% )'"#$% .)% )-;0H$)% -M'".:$,%
'&0-;#&% "% >.'$0"';0$% 0$8.$N/% LI'$0% '&"'B% .:% '&$% )$H-:,% )'"#$B% D;>'.(>$% 8.).')% N$0$% ">)-% D",$% '-% !")".%
Rd&-=)$;D"N$UB%LH$&B%":,%?":'$:%N.'&.:%'&$%($0.-,%-I%%S216%'-%S2ST/%
LI'$0%'"=.:#%,-H;D$:'"'.-:%.:%'&$%E.$>,B%'&$%H0.'.H.)D%":,%0$O.:'$0(0$'"'.-:%N$0$%H"00.$,%-;'/%<&$%
E.:">%)'"#$%.)%'&$%N0.'.:#%)'"#$B%M")$,%-:%E.:,.:#)%.:%'&$%E.$>,%":,%"%:$N%$II- 0'%'-%>.:=%":,%H0$"'$%"%N0.''$:%
&.)'-0Q%-I%'&$%0$">%0$>"'.-:)&.(%M$'N$$:%LH$&%,":%?":'$:%")%("0'%-I%-:$%0$#.-:%-I%'&$%H-;:'0Q%H">>$,%
9:,-:$)."%'-,"Q/%<&$%)';,Q%-I% '&$%'-DM)'-:$)%-I%'&$%?":'$:%J;>'":"'$%.)%>.D.'$,%'-%'&$%($0.-,%I0-D%J;>'":%
a")":;,,.:%'-%J;>'":%LM;%A")&0%LM,;>%K"&&"0%O%J;>'":%a"7./%!$0.-,%-I%1FFSO145SP%
!
RESULTS)
X":Q%(0$ 8.-;)%)';,.$)%&"8$%H-:E.0D$,%'&$%'Q(->-#Q%-I%'-DM)'-:$)%.:%?":'$:%.)%'&$%?"'$$%Y.0"'%
?"';%LH$&%'Q(->-#Q/%<&$%E.0)'%)'"'$D$:'%-I%H-D(0$&$:).8$%0$)$"0H&%N")%(;'%I-0N"0,%MQ%Z0%V'&D":%W"'.DB%
N&.H&%.:H>;,$,%"%'"M>$%-I%'&$%,.)'0.M;'.-:%-I%?"';%LH$&%#0"8 $)'-:$)%.:%?":'$:B%N.'&%,$'".>)%-I%6%'Q($)%-I%
)'-:$%.:%'&$%X";>":"%a ")":;,,.:%P-D(>$]B%13%?"';%LH$&%.:%?":'$:%!0.:H$%X;&"DD",%P-D(>$]B%":,%.:%
'&$%X";>":"%W;);I%P-D(>$]%.:%>"0#$%e;":'.'.$)/%
V'&D":% ,.,% :-'% D$:'.-:% '&$% $].)'$:H$% -I% -'&$0% );>'":"'$)% .:% Y"8"% '&"'% ;)$,% '&$% A.)":% LH$&%
'Q(->-#QB%.:H>;,.:#%'&$%J;>'":"'$%-I%P.0$M-:/%<&.)%.)%">)-%.:%>.:$%N.'&%'&$%0$)$"0H&%0$);>')%-I%X;&"DD",%
9eM">%Y-&":)Q"&B% N&-%)'"'$,%'&"'% -I%'&$%```% '-DM)% .:%'&$%!"&%&% _;:;:#%Y"'.% H-D(>$]B%M").H">>QB%'&$Q%
H-:).)'%-I%4%)$("0"' $%'Q($)%-I%'&$.0%-N:%&$",)'-:$%'Q(->-#Q%Ra$0:"N":%f%K;),.":"B%S2S2U/%
<&.)%.)%">)-%.:%>.:$%N.'&%-;0%0$)$"0H&%.:%'&$%E.$>,%I-0%3%Q$"0)%.:%8"0.-;)%0$#.-:)%-I%Y"8" B%N&.H&%,.,%
:-'% E.:,% ":Q% 9)>"D.H% );>'":"'$)% .:% Y"8"% '&"'% ;)$,% '&$% ?"'$$% 7.0"'% ?"';% LH$&% <Q(->-#Q% a$",)'-:$)%
H-:'.:;-;)>Qc%'&.)%.:,.H"'$)%'&"'%'&$0$%N")%"H';">>Q%"%8$0Q%)($H.">%0$>"'.-:)&.(%M$'N$$:%?":'$:%":, %LH$&%
RW"'.DB%16``U/%<&$%'Q(->-#Q%H>")).E.H"'.-:%;)$,%.:%(0$8.-;)%0$)$"0H&%":,%'&.)%0$)$"0H&%;)$)%'&$%'Q(->-#Q%
;)$,%MQ%V'&D":%V0(&":%":,%'&$:%,$8$>-($,%MQ%!$00$'B%")%I->>-N)%":,%'&$%,.)H-8$0Q%-I%:$N%,"'"%M")$,%
-:%0$)$"0H&%MQ%X"($)"%-8$0%'&$%>")'%11%Q$"0)*%
%
%%%%%%%%%%%%%%% %
D)E0(>!FG!H(?E(>77)?1!?@!I*59'1!<6J>!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%&K
9:%S22FB%\";^":%LD0.>%(;M>.)&$,%8"0.-;)%,$)H0.('.-:)%-I%'&$%,$H-0"'.8$%#0"8$)'-:$)%-I%'&$%J;>'":%
-I%?":'$:B%g@9Og9g%H$:';0.$)B%N&.H&%.:H>;,$,%8"0.-;)%#$:$0">%,$)H0.('.-:)%-I%'&$%'-DM)%-I%'&$%J;>'":)%-I%
?":'$:%I0-D%'&$%($0.-,%-I%J;>'":%a")":;,,.:%'-%J;>'":%JQ"0.I;,.:%b"';%h"=.>B%'&$%($0.-,%1FFSO15FSB%
N&$0$%8"0.-;)%<Q(->-#Q%":,%V0:"D$:'%":">Q)$)%":,%H-D("0.)-:)%"0$%">)-%D$:'.-:$,/%
<&$%>"'$)'%0$)$"0H&B%N&.H&%">)-%.:H>;,$)%'&$%e;">.E.H"'.-:)%I-0%'&$%'-DM)'-:$)%-I%'&$%J;>'":%-I%
?":'$:B%N")%D$:'.-:$,%.:%0$)$"0H&%MQ%X-&"DD",%L>.%\",.>>"&%.:% S2ST/%9:%'&.)%0$)$"0H&B%\",&.>"&%L>.%
"''$D('$,%'-%(0-8.,$%"%D-0$%"HH;0"'$%(.H';0$%-I%'&$%'-DM)'-:$)%.:%)$8$0">%(>"H$)B%$)($H.">>Q%.:%d"N":#%
LM":#B%'&$:%">)-%H-D("0$,%'&$D%N.'&%)($H.">%(>"H$)%);H&%")%'&$%?":'$:%d"D"B%K$:"0.B%K");:Q"'":B%":,%
!"=">":#":%H$D$'$0Q%H-D(>$]$)/%
<&$%'Q(->-#.H">%"((0-"H&%)&-N )%'N-%#0-;()%-I%'-DM)'-:$)%I0-D%,.II$0$:'%H;>';0">%;:.')%-:%'&$%
)"D$% ).'$/% <&$% ,-D.:":H$% -I% LH$&:$)$% )'-:$% .:% 8"0.-;)% 0$#.-:)% .:% ?":'$:% .)% M$Q-:,% ,-;M'B% N.'&%
("0'.H;>"0.'Q%M$.:#%'&$%J;>'":[)%'-DM)'-:$)/%i:,-;M'$,>QB%'&$%LH$&:$)$%)'-:$%.:%?":'$:%.)%.D(-0'$,B%M;'%
.'%.)%;:=:-N:%N&$'&$0%.'%N")%.D(-0'$,%,.0$H'>Q%I0-D%LH$&%-0%'&0-;#&%-'&$0%(-0')B%);H&%")%X$>"="%":,%
Y-&-0/%
%
%
!
D)E0(>!LG!$08*'1'*>!M'7'1044)1!N('B>6'(4!A?9J8>O!)1!;'1*>1!!
%
%
D)E0(>!PG!$08*'1'*>!.'08'1'!3070@!A?9J8>O!)1!H':'8'1E'1!N>4>-!.'(E'8060-!;'1*>1!
%
%
D)E0(>!&G!$08*'1!+Q0R8!.'@':5)(!+ Q408!S'4)(!T%)E5*U!4'1!+Q0R8!.'R'8)!+59'4!TV>@*U!$08*'1!W'1'()!
=?9J8> O!)1!;'1*>1!
!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%&X
=?9J'()7?1!'14!=8'77),)A'*)?1!?@!;'*>>!#)( '*!Y;'*0!+A>5!<6J?8?E6!@?(!*5>!$08*'1'*>!?@!;'1*>1!
<&$%E.0)'%'N-%0;>$0)%-I%'&$%J;>'":"'$%-I%?":'$:%N$0$%X";>":"%a")":;,,.:%":,%X";>":"%W;);I/%
<&$.0%#0"8$)%"0$%.:%,.II$0$:'%>-H"'.-:)B%N.'&%H&"0"H'$0.)'.H)%'&"'%.:,.H"'$% ";'&$:'.H.'QB%":,%"0$%)'.>>%.:%8$0Q%
#--,%H-:,.'.-:/%
!
!
!
!
!
!
!
!
!
!
D)E0(>!CG!.'08'1'!M'7'1044)1!!FCCLYFCXZ!
!
!
!
!
!
%
%
%
%
%
%
%
D)E0(>!KG!.'08'1'!3070@!?(!H'1E>('1!H'7'(>6'1!FCXZYFC[C!
L)%I-0%'&$%'-DM)'-:$)%N.'&%'&$%?"'$$%7.0"'%?"';%LH$&%'Q(->-#Q%-I%'&$%S:,%J;>'":%-I%?":'$:B%'&$Q%
"0$%H-D("0$,%N.'&%)$8$0">%'-DM)'-:$)%I-;:,%.:%F%9)>"D.H%H$D$'$0Q%H-D(>$]$)%.:%?":,"%LH$&B%.:H>;,.:#*%
1/ T%'-DM)'-:$)%&"8$%'&$%)"D$%'Q(->-#Q%")%'&$%'N-%'-DM)'-:$)%-I%'&$%J;>'":%-I%?":'$:B%N&.H&%"0$%.:%
d"D'$&%8.>>"#$B%i>$$%K"0$:#%);MO,.)'0.H'B%?":,"%LH$&%H.'QB%.:).,$%'&$%jd$D%?"=0.%0$)'";0":'%"0$"/k%
<&.)%'Q($%-I%' -D M)'-:$%D-,$>%.)%.:'$:,$,%I-0%"%D":/%<&$)$%'&0$$%'-DM)'-:$)%&"8$%.:)H0.('.-:)%M;'%
:-% $(.#0"(&Q/% <&$%.:)H0.('.-:% 0$",.:#%.)% .:% '&$%I-0D% -I%'&$% )$:'$:H$%<";&.,/%<&$0$%"0$% ,.II$0$:'%
8"0."'.-:)%.:%'&$%&$",%":,%'&$%-0:"D$:'"'.-:%-I%'&$%M-,Q%":,%>-N$0%("0')/%
%
%
%
%
%
%
%
%
%
%
%
!
D)E0(>!XG!<?9Q7*?1>7!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%&[
S/ <&$0$%"0$%3%'-DM)%N.'&%'&$%)"D$%'Q(->-#Q%.:%'&$%'-DM%H-D(>$]%-I%!0.D$%X.:.)'$0%J$0.%i,"&:"%R,/%
64`%La +1F42%LZU%.:%9>.$%8.>>"#$B%i>$$%K"0$:#%);MO,.)'0.H'B%?":,"%LH$&%H.'Q/%J;H&%"%'-DM)'-:$%D-,$>%
.)%.:'$:,$,%I-0%"%D":B%":,%-:$%N.'&%H0-N:O>.=$%N.:#)%.)%.:'$:,$,%I-0%"%N-D":/%<&$%D-)'%.D(-0'":'%
("0'%-I%'&.)%H-D(>$]%.)%'&$%$(.#0"(&.H%#0"8$)'-:$%-I%J$0.%i,"&:"B%'&$%X.:.)'$0%N&-%N")%(0.D"0.>Q%
'&$%X.:.)'$0%R!0.D$%X.:.)'$0U%,;0.:#%'&$%'.D$%-I%J;>'":%L>";,,.:%b."Q"'%JQ"&%.:%1F42%LZ%-0%S2%J"I"0B%
?","%L)&"0%64`%a.70."&/%
%%%
%
%%%%
%
%%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>![G!<?9Q7*?1>7%2)*5!*5>!7'9>!*6J?8?E6!
T/ 3%'-DM)'-:$)%I0-D%'&$%T0,%P-D(>$]%-I%[LM.,"';>>"&%L>OX">.=%L>OY">.%M.:%\.0D":%.:%d"D'$&%8.>>"#$B%
i>$$%K"0$:#%);MO,.)'0.H'B%?":,"%H.'Q/%J;H&%"%'-DM)'-:$%D-,$>%.)%.:'$:,$,%I-0%"%D":/%
%
%%%%%%%%
%
%
%
%
%
%
%
%
%
%
%
!
D)E0(>!\G!<?9Q7*?1>7!@(?9!*5>!P(4!=?9J8>O!?@!]+Q)4'*088'5!+8Y.'8):!+8Y#'8)!Q)1!D)(9'1!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%&\
3/ 1%&$",)'-:$%I0-D%'&$%!;'0-$%97-%#0"8$%H-D(>$]%.:%!":,$%8.>>"#$B%K;'"%b"7"%);MO,.)'0.H'B%?":,"%
LH$&%H.'Q/%<&$%'-DM)'-:$%D-,$>%.)B%I-0%$]"D(>$B%.:'$:,$,%I-0%"%N-D":%I0-D%'&$%14'&%H$:';0Q%
LZ/%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!FZG!M>'47*?1>!@(?9!*5>!H0*( ?>!"^?!E('B>!A?9J8>O!
F/ 1% &$",)'-:$% .:% d"D% !",":#B% d"D% <$&% @.>>"#$B% M.0'&(>"H$% -I% P;'% AQ"% Z.$:B% LH$&% ?$)"0/% <&.)%
#0"8$)'-:$%&")%":% C(.'"(&%N.'&% '&$% 0$",.:#%-I%L>OX">.=% L^&Ol&"&.0%N&-%,.$,% -:%'&$% :.#&'%-I%
h$,:$),"QB%S5%J"I"0%644%a.70."&%R6%Z$H$DM$0%1FF`%LZU%
%%
%
D)E0(>!FFG!M>'47*?1>!)1!V'9!H'4'1E-!V'9!<>5!_)88'E>!
VI%'&$%8"0.-;)%'Q($)%H-D("0$,%N.'&%'&$%'-DM)'-:$)%.:%?":,"%LH$&B%.'%';0:)%-;'%'&"'%'&$%
)$H-:,%'-DM)'-:$%-I%'&$%J;>'":%-I%?":'$:%.)%'&$%D-)'%).D.>"0%":,%.,$:'.H">%'-%'&$%'-DM)'-:$%.:%
jd$D%?"=0.kB% %N.'&-;'%'&$%$(.#0"(&Q/%<&$%'N-%'Q($)%-I%J;>'":[)%'-DM)'-:$B%LHH-0,.:#%'-%V'&D":%
W"'.D%'&$:%!$00$'%B%H-:).,$0$,%'Q($%Z%N.'&%'&$% )($H.E.H"'.-:)%")%.:'$:,$,/%9:%X"($)"[)%0$)$"0H&B%
'&.)%'Q($%-I%'-DM)'-:$%;);">>Q%M$#":%.:%1FF2 %":,%>")'$,%;:'.>%'&$%1F52)/%
!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%CZ
%
D)E0(>!FLG!.'08'1'!.05'99'4!'*'0!H'1E>('1!$>4'1E('1'!FC[CYFC\K!
L)%I-0%'&$%'-DM)'-:$%-I%'&$%T0,%J;>'":%-I%?":'$:B%")%"%H-D("0.)-:B%Q-;%H":%E.:,%.'%"'*%
"/ <-DM% H-D(>$]% .:% d"DM;:#% 8.>>"#$B% X$;0"]"% );MO,.)'0.H'B%?":,"%LH$&%H.'QB%($0.-,%1`'&%'-%
16'&%H$:';0Q%LZ/%%
%
%%%%%
%
%
%
%
%
%
%
%
%
%
D)E0(>!FPG!<?9Q7*?1>!9?4>8!)1*>14>4!@?(!'!9'1!
M/ <&$%'-DM%H-D(>$]%-I%J&".=&%[LM,;00";I%M.:%[L>Q%L>O\":)&;0.%RJQ."&%K;">"U/%<&$%'-DM)'-:$%
D-,$>%.)B%I-0%$]"D(>$B%.:'$:,$,%I-0%"%D":%I0-D%'&$%1`'&%'-%16'&%H$:';0.$)%LZ/%
%
%
%
%
%
%
%
%
%
%
!
D)E0(>!F&G!$5'):5!]+Q40(('0@!Q)1!]+86!+8YD'1750()!
H/ <&$%K&-7"%X;&"DD",%<-DM%P-D(>$]%.)%$)'.D"'$,%I0-D%'&$%15'&%H$:';0Q%LZ/%d-H"'$,%.:%
?"M"&%Y;0-:#%8.>>"#$B%K0;$:#%?"0-:"%Y"Q"%);MO,.)'0.H'B%LH$&%?$)"0%,.)'0.H'%
%
%
%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%CF
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!FCG!!<5>!W5?^'!.05'99'4!<?9Q!
9:%V'&D":[)%0$)$"0H&B%'&.)%?"'$$%Y.0 "'%?"';%LH$&%'-DM)'-:$%&")%:-'%M$$:%H>")).E.$,B%
M;'%.:%!$00$'[)%0$)$"0H&B%.'%.)%.:H>;,$,%.:%'&$%H>")).E.H"'.-:%N.'&%'Q(->-#Q%'Q($%-/%9:%X"($)"[)%
0$)$"0H&B%'&.)%V%'Q(->-#Q%-:>Q%"(($"0$,%"'%'&$%$:,%-I%'&$%15'&%H$:';0QB%;(%'-%'&$%1`'&%":,%
16'&%H$:';0.$)/%%?")$,%-:%H-D("0.)-:)B%'&$%#0"8$)'-:$)%-I%'&$%'&0$$%J;>'":)%-I%?":'$:%"0$%
.:H>;,$,%.:%'&$%V%'Q(->-#Q%M$'N$$:%'&$%1`'&%":,%16'&%H$:';0.$)/%Z$'$0D.:.:#%N&.H&%H$:';0Q%
'&.)% .)% M")$,% -:% '&$% 'Q(.H">% N".)'% )$H'.-:% H>$"0>Q% )&-N)% '&$% 'Q(->-#Q% -I% '&$% 1`'&O16'&%
H$:';0.$)/%
$08*'1!+Q0!'8Y.'@':5)(!.'5904!+Q408:'4)(!?(!'87?!:1?21!Q6!*5>!*)*8>!`H'1E>('1!%'*0a!?(!$08*'1!
+E01E!;'1*>1-!2'7!*5>!&*5!:)1E!?@!*5>!;'1*>1!$08*'1'*>!25?!(>)E1>4!@(?9!FC\K!*?!FKCFG!
\-0% '&$% 3'&% J;>'":"'$B% $8$:% '&-;#&% .'% .)% (-(;>"0>Q% N$>>% =:-N:% >-H"'$,% .:% '&$% ?":'$:% K$:"0.%
H-D(>$]B%,;0.:#% ,"'"%H->>$H'.-:% .:% S2STB%;(-:%<-DM)'-:$% $]"D.:"'.-:B% '&$%0$)$"0H&$0% '$"D% I-;:,%"%
'-DM)'-:$% M$"0.:#% '&$%$(.#0"(&Q%-I% J;>'":%X"&D;,/%J-B%N$%(0.-0.'.^$% '&.)% $(.#0"(&.H%#0" 8$)'-:$% I-0%
,.)H;)).-:/%
!
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!FKG!.'08'1'!3070@!N('B>7*?1>!8?A'*>4!)1!H':'8'1E'1!N>4>!.'08'1'!3070@!
<&.)%'-DM)'-:$%.)%>-H"'$,%-:%'&$%-;').,$%-I%!"=">":#":%_$,$%X";>":"%W;);IB%N.'&%'&$%'-(%("0'%
&"8.:#%'&$%I ->>- N.:#%.:)H0.('.-:*%<&.)%'-DM)'-:$%.)%'&$%D-)'%.D(-0'":'%-I%">>%'&$%-'&$0%'-DM)'-:$)%
M$H";)$B%M")$,%-:%(&Q).H">%$]"D.:"'.-:B%'&.)%'-DM)'-:$%.)%'&$%'-DM)'-:$%'&"'%H-:'".:)%'&$%$(.'"(&%-I%
'&$%);>'":[)%:"D$/%
!
١G!ﻻا !اﻻ! !!
ﺳﻠن!ﻣﺤﻤ د !ﺑﻦ!ﺳﻠن !
٢G!ﻣﺤﻤ !ﺑﻦ!ﺳﻠن!ﯾﻮ !!
٣G!ﺑﻦ!ﺳﻠن!ﺣﺴﻦ !اﻟ !
٤G!GGﻏﻔ !!ذﻧ !
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%CL
m1/%𝘓𝘢%𝘪𝘭𝘢𝘩𝘢𝘪𝘭𝘭𝘢𝘩%𝘔𝘶𝘩𝘢𝘮𝘮𝘢𝘥%𝘳𝘢𝘴𝘶𝘭𝘶𝘭𝘭𝘢𝘩B%𝘚𝘶𝘭𝘵𝘩𝘢𝘯%𝘔𝘢𝘩𝘮𝘶𝘥%𝘣𝘪𝘯%𝘚𝘶𝘭𝘵𝘩𝘢𝘯%%
S/%𝘔𝘶𝘩𝘢𝘮𝘮𝘢𝘥%𝘣𝘪𝘯%𝘚𝘶𝘭𝘵𝘩𝘢𝘯%𝘠𝘶𝘴𝘶𝘧%
T/%𝘣𝘪𝘯%𝘚𝘶𝘭𝘵𝘩𝘢𝘯%𝘏𝘢𝘴𝘢𝘯𝘶𝘥𝘥𝘪𝘯%
3/%𝘨𝘩𝘢𝘧𝘢𝘳𝘢𝘭𝘭𝘢𝘩𝘶%,^;:;M"&;k%
%
<0":)>"'.-:*%
1/%<&$0$%.)%:-%_-,%$]H$('%L>>"&B%":,%X;&"DD",%.)%&.)%X$))$:#$0/%𝘚𝘶𝘭𝘵𝘢𝘯%𝘔𝘢𝘩𝘮𝘶𝘥%)-:%-I%𝘚𝘶𝘭𝘵𝘢𝘯%
S/%𝘔𝘶𝘩𝘢𝘮𝘮𝘢𝘥%)-:%-I%𝘚𝘶𝘭𝘵𝘢𝘯%𝘠𝘶𝘴𝘶𝘧%
T/%)-:%-I%𝘚𝘶𝘭𝘵𝘢𝘯%𝘏𝘢𝘴𝘢𝘯𝘶𝘥𝘥𝘪𝘯%
3/%X"Q%L>>"&%\-0#.8$%&.D%RI-0%">>%&.)%D.)'"=$)%":,%).:)U/%
%
b$",.:#% H"::-'% M$% ,-:$% $").>QB% H-:).,$0.:#% '&$% '-DM)'-:$% .)% .:% (--0% H-:,.'.-:% ":,% :$$,)%
",$e;"'$%H"0$/%<&.)%'-DM)'-:$B%")%I"0%")%'&$%3%Q$"0)%-I%'-DM)'-:$%0$)$"0H&%,"'"%H->>$H'$,%'&0-;#&-;'%
Y"8"B%.)%'&$%-:>Q%'-DM)'-:$%'&"'%&")%'&$%J;>'":[)%$(.#0"(&Q%.:%">>%'&$%'-DM)'-:$)%-:%'&$%.)>":,%-I%Y"8"/%9:%
a.)'-0.H">%$].)'$:H$%.:%Y"8"B%-:>Q%'&.)%<-DM)'-:$%.)%)&-N:/%a$",)'-:$)%N.'&%'&.)%'Q(->-#Q%H":%M$%I-;:,%
.:%4%#0"8$Q"0,%H-D(>$]$)%.:%?":,"%LH$&%")%I->>-N)*%
1/ <;":%,.%!"=$&%R\ "e.&U%#0"8$Q"0 ,%H-D(>$]%.:%!;:#$%?>":#%P;'%8.>>"#$B%Y"Q "%?"0;%);MO,.)'0.H'B%?":,"%
LH$&%H.'Q/%14'&%H$:';0Q%LZ%'-DM)'-:$%D-,$>/%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!FXG!<0'1!4)!H':>5!TD'b)5U!E('B>6'(4!
S/ <&$%K&-7"%X;&"DD",%<-DM%P-D(>$]%.)% $)'.D"'$,%I0-D%'&$%15'&%H$:';0Q%LZ/%d-H"'$,%.:%?"M"&%
Y;0-:#%8.>>"#$B%K0;$:#%?"0-:"%Y"Q "%);MO,.)'0.H'B%LH$&%?$)"0%,.)'0.H'/%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!F[G!W5?^'!.05'99'4!<?9Q7*?1>!
T/ jb"7"O0"7"%#"D(-:#%!":,$k%'-DM%H-D(>$]%.:%!":,$%8.>>"#$B%K;'"%b"7"%);MO,.)'0.H'B%?":,"%LH$&%H.'Q/%
<&$%'-DM)'-:$%D-,$>%-0.#.:"'$)%I0-D%'&$%14'&%H$:';0Q%LZ/%<&$%'-DM)'-:$%D-,$>%.)%.:' $:,$,%I-0%"%
D":/!
!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%CP
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!F\G!%'^'Y('^'!E'9J?1E!H'14>!<?9Q7*?1>!
3/ !;'0-$%97-%'-DM%H-D(>$]%.:%!":,$%8.>>"#$B%K ;'"%b"7"%);MO,.)'0.H'B%?":,"%LH$&%H.'Q/%<&$%D-,$>%-I%'&$%
'-DM)'-:$%.)%I-0%"%D":%I0-D%'&$%14'&%H$:';0Q%LZ/%
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!LZG!H0*(?>!"^?!<?9Q7*?1>!
F/ 1%<-DM)'-:$%.:%!;:#$%?>":#%H;'%@.>>"#$B%?":,"%LH$&%
%
%
%
%
%
D)E0(>!LFG!<?9Q7*?1>!)1!H01E>!;8'1E!
4/ 1%#0"8$)'-:$%.:%d"D%i7-:#%@.>>"#$B%?".';))">"D%);MO,.)'0.H'B%LH$&%?$)"0%b$#$:HQ%
%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%C&
%
D)E0(>!LLG!N('B>7*?1>!)1!V'9!c^?1E!_)88'E>!
%
<&$%T0,% #0"8$)'-:$%-I%'&$%J;>'":%-I%?":'$:%.)%.:H>;,$,%.:%'&$%'Q($%C%H"'$#-0QB%N.'&%"%'.D$%($0.-,%
M$'N$$:%'&$%$"0>Q%1422)/%9:%'Q($%CB%'&$%M-,Q%)&"($%.)%)'0".#&'/%a-N$8$0B%'&$%;(($0%H0-N:%&")%)$8$0">%
8"0."'.-:)/%<&$%#0"8$)'-:$%D-)'%).D.>"0%":,%H>-)$%'-%J;>'":%X"&D;,[)%#0"8$)'-:$%.)%>-H"'$,%:$"0%d"D%
i7-:#%@.>>"#$/%
<&$% $(.#0"(&Q% -I% '&$% #0"8$)'-:$% N.'&% '&.)% #0"8$)'-:$% D-,$>% .)% "% H"08$,% #0"8$)'-:$B% ":,% .')%
";'&$:'.H.'Q% H"::-'% M$% ,-;M'$,B% )-% '&.)% 'Q($% -I% #0"8$)'-:$% .)% H-D(>$'$>Q% I0-D% LH$&/% 9:%",,.'.-:B% '&$%
K<d9@% ,-H;D$:'"'.-:% H>$"0>Q% D$:'.-:)% '&"'% '&.)% .)% '&$% J;>'":[)% '-DM)'-:$/% <&$% ",,.'.-:% -I% '&$%
.:I-0D"'.-:%-I%J;>'":%X"&D;,%N")%D$:'.-:$,%MQ%<.'.=%!;,7.")';'.%")%I->>-N)*%
<&$%)$">.:#%-I%'&$%J;>'":%"'%'&.)%'.D$%H-00$)(-:,)%'-%'&$%)'"D(%H-:'".:$,%.:%J;>'":%LM;>%\"'&[)%
d$''$0%'-%'&$% K.:#%-I% C:#>":,B%P&"0>$)% 99B%1443B% N&$0$% '&.)%d$''$0% .)%=$('%"'% '&$%!;M>.H% b$H-0,%VIE.H$B%
d-:,-:B%N.'&%"0H&.8 $%:;DM$0%!bV%C]'%`+SB%I/1S40/%J;>'":%LM;>%\"'&B%-0%&.)%I;>>%:"D$%LM;>%\"'&%LM,;>%
\"''"&B%N")%'&$%)-:%-I%J;>'":%LM;>D"">.c%&$%0;>$,%?":'$:%I0-D%14F1O14`S%R_;.>>-'%$'%">/B%1662U/%?$I-0$%
M$H-D.:#%);>'":B%&$%N")%=:-N:%")%!":#$0":%Z.("'.%":,%>.=$%&.)%#0":,I"'&$0B%J;>'":%LM;>D"I "=&.0B%&$%
N")%">)-%=:-N:%")%J;>'":%L#;:#/%_">>-([)%RS22TU%N0.'.:#)%">)-%)&-N%9:I-0D"'.-:%0$#"0,.:#%'&.)%>$''$0/%
<&.)%I".0>Q%>"0#$%>$''$0%D$");0$)%3F/F%]%TS%HD/%<&$%'$]'%D$");0$)%S3/F%]%ST/F%HD%N.'&%13%>.:$)%
($0% ("#$/% C;0-($":% ("($0% >$''$0% D"'$0.">B% "% ("($0% )'"D(% '&"'% )&-N)% '&$% .D"#$% -I% "% >.>Q% E>-N$0% .:% "%
H0-N:$,%)&.$>,/%<&$%,.)'":H$%M$'N$$:%'&.H=%>.:$)%R>".,%>.:$)U%.)%S/`%HDB%":,%I-0%'&.:%>.:$)%RH&".:%>.:$)UB%
'&$0$%"0$%1T%>.:$)%.:%-:$%H$:'.D$'$0/%
<&$0$%"0$%'N-%)'"D()%-:%'&.)%>$''$0/%<&$%E.0)'%.)%"%M>"H=%H"0M-:%H.0H>$%.:%'&$%;(($0%0.#&'%H-0:$0B%
)>.#&'> Q%"M-8$%'&$%'$]'/%9:%.'%'&$0$%.)%L0"M.H%N0.'.:#%N&.H&%0$",)*%">Oh").e%M.>>" n &%")OJ;>'":%LM;%">O\"'&%.M:%
")OJ;>'":%LM;o %">OX"[">.%.M:%")OJ;>'":%LM.%">OX"I"=&.0%.M:%X;&"DD",%.M:%W;p );I%.M:%a")":%",OZ.:%R<&$%
8$0Q%M$>.$8$0%.:%L>>"&B%J;>'":%LM;%">%\"'&%)-:%-I%J;>'":%LM;%">%X"">.%)-:%-I%J;>'":%LM;%">%X"I"=&.0%)-:%-I%
J;>'":%X;&"DD",%)-:%-I%W;);I%)-:%-I%a")":;,,.:U/%LHH-0,.:#%'-%A").0%LM,;>>"&%.:%_">>-(B%R_">>-(B%S22TB%
(/%F4UB%'&$%(-).'.-:%-I%'&.)%)'"D(%.:,.H"'$)%'&"'%'&$%)$:,$0%":,%0$H.(.$:'%-I%'&$%>$''$0%.)%"%=.:#/%<&$%)$H-:,%
)$">%.)%":%-8">O)&"($,%?0.'.)&%0-Q">%)$">B%>-H"'$,%.:%'&$%'-(%D"0#.:B%-:%'&$%>$I'B%7;)'%"M-8$%'&$%'$]'%.:).,$B%
N&.H&%.)%N0.''$:%.:%d"'.:%>$''$0)%a$0%X"7$)'Q.)%)'"'$%("($0%-IE.H$/%
<&$%J'"D(%":,%'&.)%$](>":"'.-:%.'%.)%">.#:$,%N.'&%'&$%I-;:,.:#%-I%'&$%C(.'"(&%-I%J;>'":%L#;:#%
X"&D;,B%N&.H&B%M$I-0$%&.DB%N")%:-%'.'>$%-I%J;>'":c%.'%N")%-:>Q%)'"0'$,%.:%'&$%J;>'":%X"&D;,%$0 "/%9:%14T`B%
!0.:H$%LM,;>>"&%K",.0%":,%&.)%)-:B%!0.:H$%L:-DB%0$H$.8 $,%'&$%'.'>$%-I%);>'":%I0-D%'&$%J;>'":%-I%X$HH"/%
J.:H$% '&$:B% &.)% :"D$% &")% M$H-D$% J;>'":% LM;>D"I"=&.0% X"&D;,% LM,;>=",.0B% ":,% &.)% )-:% .)% J;>'":%
LM;>D"">.%L&D",/%
i:,$0% '&$% 0$.#:% -I% J;>'":% LM;>D"I"=&.0% X"&D;,% LM,;>=",.0B% '&$% ?":'$:% =.:#,-D% N")% 8$0Q%
);HH$))I;>*%)'0-:#%'0--()B%",8":H$,%$H-:-DQB%,$8$>-(.:#%)(-0')%":,%"0')B%":,%M.>"'$0 ">%0$>"'.-:)%N.'&%
I-0$.#:%=.:#)B%);H&%")%C:#>":,B%P&.:"B%":,%K$>.:#/%L0"M.HB% Z;'H&B%$'H/B%"0$%8$0Q%#--,/%X"'"0"D%":,%'&$%
Z;'H&%'0.$,%'-%H-:'0->%?":'$:%,;0.:#%&.)%0$.#:%M;'%I".>$,/%X"'"0"D%I".>$,%M$H";)$%.'%N")%[M>-H=$,[%MQ%'&$%
Z;'H&%.:%?$'"N.B%N&.>$%'&$%Z;'H&B%,;$%'-%H-:'.:;-;)%,$I$"')B%E.:">>Q%(0-(-)$,%($"H$/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%CC
<&;)B%'&$%3'&%J;>'":%-I%?":'$:%.)%'&$%VIE.H.">%J;>'":%N&-%&->,)%'&$%'.'>$%-I%J;>'":%N.'&%N0.''$:%
$8.,$:H$%-:%?"'$$%Y.0"'%?"';%LH$&/%<&.)%0$",.:#%">)-%(0-8$)%.:%?":'$: %'&"'%'&.)%)'-:$%.)%-:$%-I%'&$%D-)'%
I"D-;)% 9)>"D.H% "0'.I"H')% 0$>"'$,% '-% D"0.'.D$% J-;'&$")'% L)."%Rh",$B% S21TU/% LH$&:$)$%)'-:$% .)%N.,$>Q%
)(0$",%'&0-;#&-;'%'&$%0$#.-:%O%I0-D%A-0'&%J;D"'0"B%'&$% X">"Q%!$:.:);>"%":,%Y"8"B%'-%'&$%C")'%'-%?0;:$./%
%
!
D)E0(>!LPG!<5>!2>88Y:1?21!E('B>7*?1>!)7!)1!*5>!W>1'()!A?9J8> OG!!
)'%'-%'&$%#0"8$)'-:$)%.:%'&$%!"=">":#":%_$,$%H-D(>$]B%N&.H&%"0$%'Q($%C%":,%H-:'$D(-0"0Q%;(%'-%'&$%
1422)B%-:%'&$%-'&$0%&":,B%'&.)%#0"8$)'-:$%.)%:-'%I-;:,%.:%'&$%V'&D":%W"'.D%#0"8$)'-:$%'Q(->-#Q/%J'.>>B%
.:%!$00$'[)%)';,QB%.'%.)%I-;:,%.:%'Q($%!B%N&.H&%N")%.:%H.0H;>"'.-:%"I'$0%'&$%1`22)%'-%1622)%$0"/%
%
%
D)E0(>!L&G!$08*'1!+Q0!'8Y.']'8)!+59'4!FK&XYFKCF!<?9Q7*?1>!8?A'*>4!)1!*5>!W>1 '()!=?9J8>O!
<&$%M$)'%0$",.:#%-I%'&$%)H0"'H&$,%.:)H0.('.-:)%-:%'&$)$%'N-%#0"8$)'-:$)%.:%K$:"0.%H- D (>$]%.)*%
!
ا
ُ
!ا
ْ
ِ
ْ
!
َ
ِ
َ
!ا
َ
ْ
ِ
!ذ
ُ
ُ
ْ
َ
ُ
!
ِ
َ
ه
ِ
!
ُ
َ
ٍ
!
% %
h&.H&%D$":)*%mV%L>>"&B%I-0#.8$%'&$%).:)%-I%'&$%-N:$0%-I%'&.)%#0"8$%N.'&%'&$%#>-0Q%-I%'&$%!0-(&$'%
X;&"DD",m%
!0"Q$0)%>.=$%'&.)%"0$%">)-%H-DD-:>Q%I-;:,%-:%'&$%A.)":%?"'$$%Y.0"'%?"';%LH$&%,;0.:#%'&$%!")".%
J;>'":"'$%":,%LH$&%Z"0;))">"D%($0.-,)B%N.'&%)>.#&'%,.II$0$:H$)/%
\-0%H-D("0.)-:%'&.)%'Q($%.)%H-D("0$,%N.'&%3%'-DM%H-D(>$]$)%.:%?":,"%LH$&%")%I->>-N)*%%
"/ X;&"DD",% M.:% 9M0"&.D[)% #0"8$Q"0,% H-D(>$]% .:% d"D(")$&% K-'"% 8.>>"#$B% K;'"% b"7"% );MO,.)'0.H'B%
?":,"%LH$&%H.'Q/%<&.)%#0"8$)'-:$%M$>-:#.:#%'-%X;&"DD",%M.:%9M0"&.D%.)%$)'.D"'$,%I0-D%'&$%>"'$%
15'&%H$:';0Q%'-%'&$%1`'&%H$:';0Q%LZ/%
%
%
%
%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%CK
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!LCG!
M/ <&$%'-DM%H-D(>$]%,"'$)%'-%12S5%a.70."&%R141`%LZU%.:%P-'%!$;'":-%8.>>"#$B%K;'"%?"0-%
);M,.)'0.H'B%LH$&%?$)"0%,.)'0.H'/%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!LKG!
H/ J;>'":%[L>";,,.:%9M0"& .D%X":)& ;0%JQ"&[)%#0"8$Q"0,%H-D(>$]%.:%?"0;%8.>>"#$B%?".';00"&D":%
);M,.)'0.H'B%?":,"%LH$&%H.'Q/%
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!LXG!$08*'1!]+8'044)1!"Q('5)9!.'1750(!$6'5]7!E('B>6'(4!
,/ <;":%Z.%K":,":#%'-DM%H-D(>$]%.:%!":,$%8.>>"#$B%K;'"%b"7"%);MO,.)'0.H'B%?":,"%LH$&%H.'Q/%<&$%
#0"8$)'-:$%.:%'&.)%(.H';0$%M$>-:#)%'-%J;>'":%[L,.>;>>"&%M.:%J;>'":%X;:"N"0%JQ"&%M.:%J;>'":%
X;&"DD",%JQ"&%d"D;0.%R,/%635%a+1F32%LZU/%
%
%
%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%CX
%
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!L[G!<0'1!d)!W'14'1E!<?9Q7* ?1>!
<&$%'N-%J;>'":%'-DM)'-:$)%.:%'&$%K$:"0.%P-D(>$]%"0$%.:H>;,$,%.:%!$00$'[)%H"'$#-0.^"'.-:%-I%V%
'Q(->-#Q%'-DM)'-:$)%N&.H&%-:>Q%"(($"0$,%.:%'&$%($0.-,%1`22O1622B%:-'%.:%1422/%<&$%.:)H0.('.-:)%-:%
'&$%'N-%<-DM)'-:$%&$",)%,-%:-'%)&-N%'&$%:"D$%-I%'&$%J;>'":c%.'%.)%-:>Q%"%(0"Q$0B%N&.H&%.)%H-DD-:> Q%
(>"H$,% -:% '&$% M"'$% 7.0"'% ?"';% LH$&% 'Q(->-#Q% '-DM)'-:$)/% ?")$,% -:% 0$)$"0H&% .:% '&$% E.$>,% ":,% "I'$0%
H-D("0.:#%N.'&%#0"8$)'-:$)%.:%LH$&B%'&$)$%'N-%'Q($)%-I%#0"8$)'-:$)%H"::-'%M$%H>")).E.$,%")%?"'$$%Y.0"'%
?"';%LH$&/%P-:).,$0.:#%'&$%D"'$0.">)B%).^$)B%":,%-0:"D$:')%"0$%,.II$0$:'/%<&$0$%.)%"%)'0-:#%.:,.H"'.-:%
'&"'%;:>.=$%-'&$0%'-DM)'-:$)%D",$%I0-D%.D(-0'$,%D"'$0.">)%I0-D%LH$&B%'&.)%'-DM)'-:$%.)%D",$%>-H">>Q%
I0-D%?":'$:/%C8$:%'&-;#&%'&$%'-DM)'-:$)%D",$%.:%?":'$:%"0$%).D.>"0%.:%)'Q>$%'-%'&-)$%.:%LH$&B%'&$Q%"0$%
,.II$0 $:'%.:%-;0%0$)$"0H&%.:%'&$%E.$>,B%N$%I-;:,%'&$%,.)'0.M;'.-:%-I%'-DM)'-:$)%D",$%.:%?":'$:%.:%'&$%
Y"="0'"%"0$"%")%N$>>/%
%
%
%
%
%
%
%
%
%
%
D)E0(>!L\G!$08*'1!+E>1E!<)(*'6'7'!?(!$08*'1!+Q0!'8YD'*5!+Q408!D'**'5!FKCFYFK[L!
%
%
%
%
%
%
%
%
%
!
D)E0(>!PZG!$08*'1!M'^)!?(!$08*'1!+Q0!e'75'(!+Q408!S'5'(!FK[PYFK[X!
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%C[
\-0% H-D("0.)-:B% #0"8$)'-:$)% N.'&% '&$% 'Q(->-#Q% -I% '&$)$% 'N-% );>'":)% "0$% I-;:,% .:% 4% (>"H$)% .:%
?":,"%LH$&%")%I->>-N)*%%
a. 9:%X"($)"%a$",-IE.H$%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!PFG!<?9Q7*?1>!@(?9!N'9J?1E!H'1E?!
<&.)%<-DM)'-:$%N")%'"=$:%I0-D%_"D(-:#%!":#-B%?":,"%LH$&B%;(-:%'&$%-N:$0%)$>>.:#%'&$%
>":,%":,%0$e;$)'.:#%X"($)"%'-%0$D-8$%'&$%&$",%<-DM)'-:$/%
b. _0"8$Q"0,%H-D(>$]%.:%d"DM;:#%8.>>"#$B%X$;0"]"%);MO,.)'0.H'B%?":,"%LH$&%H.'QB%($0.-,%1`'&%'-%16'&%
H$:';0Q%LZ/%J;H&%"%'-DM)'-:$%D-,$>%.)%.:'$:,$,%I-0%"%N-D":/%%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!PLG!N('B>6'(4!A?9J8>O!)1!V'9Q01E!B)88'E>!
H/ _0"8$Q"0,%H-D(>$]%.:%K"D(;:#%d"DM;:#B%X$;0"]"B%?":,"%LH$&%($0.-,%-I%1`%)+,%16%LZ/%!
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!PPG!N('B>6'(4!A?9J8>O!)1!W'9J01E!V'9Q01E-!.>0('O'!
,/ <&.)% #0"8$)'-:$%H-D(>$]%.)%N.'&.:%'&$%H-D(>$]%-I%X;&"DD",%M.:%9M0"&.D%K"D(;:#%d"D(")$&B%K;'"%
b"7"B% ?":,"% LH$&B% ":,%.)% $)'.D"'$,% '-%M$% I0-D%'&$% >"'$% 1`'&%H$:';0Q% '-%'&$% 16'&%H$:';0Q% LZ/% <&$%
#0"8$)'-:$%D-,$>%.)%.:'$:,$,%I-0%N-D$:/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%C\
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!P&G!N('B>7*?1>!A?9J8>O!?@!.05'99'4!Q)1!"Q('5)9!
$/ <&$% '-DM% .)% .:).,$% '&$% J&".=&% [LM,;00";I% M.:% [L>Q% L>O\":)&;0.% RJQ."&% K;">"U% H-D (>$]/% <&$%
'-DM)'-:$%D-,$>%.)B%I-0%$]"D(>$B%.:'$:,$,%I-0%"%D":%I0-D%'&$%1`'&%'-%16'&%H$:';0.$)%LZ/%
%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!PCG!$5'):5!]+Q40(('0@!Q)1!]+86!+8YD'1750()!< ?9Q7*?1>!
I/ J;>'":%[L>";,,.:%9M0"&.D%X":)&;0%JQ"&[)%'-DM%H-D(>$]%.:%?"0;%8.>>"#$B%?".';00"&D":%
);M,.)'0.H'B%?":,"%LH$&%H.'Q/%<&.)%#0"8$)'-:$%M$>-:#)%'-%'&$%N.I$%-I%J;>'":%9M0"&.D%X":)&;0%
JQ"&/%J;>'":%X":)&;0%JQ"&%,.$,%.:%1S`4%a.70."&+1`46%LZ/%
%
%
%
%
%
%
%
%
%
%
%
%
D)E0(>!PKG!$08*'1!]+8'044)1!"Q('5)9!.'1750(!$6'5]7!*?9Q!
<&$%'N-%'-DM)'-:$)%-I%'&$%4'&%":,%5'&%J;>'":)%-I%?":'$:%;)$%'&$%<Q($%A%%?"'$$%Y.0"'%?"';%
LH$&% <Q(->-#Q%MQ%!$00$'B%N&.H&%"(($"0)%-:>Q%I-0%'&$%>"'$%1`'&%H$:';0Q%":,%16'&%H$:';0Q/%%?Q%;).:#%
?"'$$%Y.0 "'%?"';%LH$ &%'Q(->-#Q%'-DM)'-:$)%H-:).)'$:'>Q%":,%H-:'.:;-;)>QB%I0-D%'&$%M$#.::.:#%-I%
J;>'":%a")":;,.:[)%$0"%'-%'&$%'.D$%-I%J;>'":%a"7.%$0"B%.'%)&-N)%'&$%$]H>;).8 $%0$>"'.-:)&.(%M$'N$$:%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%KZ
?":'$:%":,%LH$&%-8$0%);H&%"%>-:#%($0.-,/%<&.)%0$>"'.-:)&.(%.)%)-%$]H>;).8$B%H-:).,$0.:#%'&"'%:-%
-'&$0%9)>"D.H%);>'":"'$)%.:%Y"8"%;)$%"%).D.>"0%'-DM)'-:$/%
<&$%&.)'-0.H">%0$H-0 ,)%">)-%)&-N%'&$%).D.>"0>Q%'&$%$:,%-I%M-'&%J;>'":"'$/%<&$%J;>'":%-I%?":'$:%
$].>$,%'-%J;0"M"Q"B%N")%M;0.$,%.:%'&$%J;0"M"Q"%H$D$'$0Q/%a$%,.$,%.:%1`66B%N&.>$%'&$%>")'%J;>'":%-I%LH$&%
N")%$].>$,%'-%?"'"8."%.:%162T%'-%LDM-:%":,%N")%M;0.$,%.:%Y"="0'"%.:%16T6/%C8$:%'&-;#&%.'%.)%#$:$0">>Q%
=:-N:%.:% LH$&%'&"'%N.:#$,%#0"8$)'-:$)%"0$%N-D$:[)%#0"8$)'-:$)B%'&$0$%.)%"%,.II$0$:'%H"'$#-0.^"'.-:%I-0%
"0$")%-;').,$%LH$&/%%<&$0$%"0$%"%>"0#$%:;DM$0%-I%N.:#$,%#0"8$)'-:$)%-;').,$%LH$&B%$)($H.">>Q%?":'$:/%
X-0$%H-D(>$'$%H-D("0"'.8$%0$)$"0H&%.)%)'.>>%:$$,$,%-:%'&.)%D"''$0/%
+1'8 6/)1E!.'107A()J*!'14!H()9>!7?0(A>7!
<&$0$%N"):q'%":Q%,.0$H'%0$>"'.-:)&.(%M$'N$$:%LH$&%":,%?":'$:%M$.:#%N0.''$:%":,%.:8$)'.#"'$,/%
a-N$8$0B%I$N%&.)'-0.$)%D$:'.-:$,%'&$%0$>"'.-:)&.(%M$'N$$:%LH$&%":,%?":'$:%.:%'&$%!")'B%);H&%")*%%
1/ <&$%b$>"'.-:)&.(%D$:'.-:$,%MQ%?"M",%?":'$:%
<&$%H&0-:.H>$%-I%?":'$:%,$)H0.M$)%"%>.''>$%"M-;'%'&$%$].)'$:H$%-I%'&$%!")".%($-(>$%R("0'%-I%LH$&%
:-NU%N&-%>.8$%.:%?":'$:%")%I->>-N)*%
"/%<&$:%.DD$, ."'$>Q%">>%'&$%'0--()%#"'&$0$,B%":,%">>%'&$%)-:)B%":,%'&$%)-:)O.:O>"NB%":,%">>%'&$%'$"H&$0)%
-:%X-;:'%!;>")"0./%L)%I-0%'&$%H-;0'.$0)%N&-%"''$:,$,B%E.0)'%'&$%0%3%9%$,3(=$%0%(>,7%.?%B%":,%'&$%
)$:"("'.%Z$D":#%?->-:#B%'&$%,.("'.%_;:;:#%?"';B%":,%'&$%j=":,;0;":%!")$rkB%'&$%",D.0">%":,%_;)'.%
K;.-:B%":,%'&$% ="'.M% !":Q":#B% '&$%=.:#%-I%?">-B%":,% Y-:#7-B%Z.:;0,"0"%":,% '&$%:#"M$r &.% D.:.)'$0%
)"&M":,"0%K$>.:#B%":,%'&$%0$'".:$0%d"D(;:#B%&$%N")%'&$%N"0%H&.$IB%")%N")%X";>":"%W;);I[)%)-:%
":,%">>%&.)%Q-;:#$0%M0-'&$0)/%L)%I-0%'&-)$%N&-%,.,:['%("0'.H.("'$/%
M/%?$I-0$%'&"'B%'&$0$%N")%">)-%\"'.D"&B%N&-%N")%H">>$,%'&$%e;$$:%-I%_"#"M":#B%)-%)&$%D"00.$,%b"';%
?"#;)c%&$%H"D$%I0-D%($-(>$%.:%!")".B%:"D$>Q%'&$%h&.'$%?>--,%($-(>$%Rb-Q">%?>--,%\"D.>QU/%
H/%L:,%)-%'&$:%I0-D%'&"'B%'&.)%.)%'&$%)'-0Q%'&"'%M$#.:)%N&$:%!0.:H$%!":7;:":%>$I'%'&$%>":,%-I%?"#&,",%
I-0%'&$%>":,%-I%Y"8"/%a.)%I"'&$0%$]($>>$,%&.D%M$H";)$%&$%=$('%"%,-#/%<&"'[)%N&Q%&$%'&$:%N$:'%'-%'&$%
>":,%-I%!")".&%sN.'&t%I-;0%M0-'&$0)B%'&0$$%M-Q)%":,%-:$%#.0>/m%
9:% '&$% ?":'$:% H&0-:.H>$B% .'% .)% ,$)H0.M$,% '&"'% N&$:% J;>'":% a")":;,.:% H"00.$,% -;'% '&$%
9)>"D.^"'.-:%-I% ?":'$:B%&$% N")%">)-% );((-0'$,%MQ%($-(>$% I0-D%LH$&%")% )->,.$0)% N&-% M$H"D$%N"0%
H&.$I)/%<&$:%.:%":-'&$0%)'-0QB%.'%.)%">)-%'->,%'&"'%!"&%&%_;:;:#%Y"'.[)%,";#&'$0B%\"'.D"&B%D"00.$,%"%
!")".%RLH$&U%($0)-:/%9:%":-'&$0%("0'B%.'%.)%0$(-0'$,%'&"'%'&$%)-:O.:O>"N%-I%!"&%&%_;:;:#%Y"'.B%!0.:H$%
!":7;:":B%&")%,$("0'$,%I-0% '&$% >":,%-I%LH$&/%<&.)%)'-0Q%(0-8.,$)%"%#>.D()$%-I%'&$%$].)'$:H$%-I% '&$%
!")".%($-(>$B%N&-%"0$%:-N%("0'%-I%LH$&%":,%("0'.H.("'$,%.:%$)'"M>.)&.:#%9)>"D.H%";'&-0.'Q%.:%?":'$:/%
S/ <&$%?$#.::.:#%-I%&-N%?":'$:%?$H"D$%;:,$0%9)>"D.H%b;>$0%M")$,%-:%Y-"-%Z"%?"00-)%Z$H",$)%.:%L)."%
LY%a$;=$:%D",$%'0":)>"'.-:)%I0-D%3%!-0';#;$)$%0$>"'$,%'-%'&$%$8$:'%.:%?":'$:%")%I->>-N)*%
"/ ?"00-)%
h&$:%\0":H.)H-%,$%J"r%,$("0' $,%I0-D%?.:'"D%R?.:'":UB%&$%N")%H";#&'%.:%"%&$"8Q%)'-0DB%":,%
M$H";)$%-I%'&.)B%Z;"0'$%P-$>&-%,$H.,$,%'-%#-%E.0)'%'-%P">"("/%a$%>-)'%-:$%M0.#":'.:$%-I%'&$%E>$$'B%
N&.H&%0":%")&-0$B%N&$0$%">>%($0.)&$,%"'%'&$%&":,)%-I%'&$%X--0)%-:%'&$%>":,/%<&$Q%&",%&$>,%.'%I-0%
-:>Q%"%I$N%,"Q)%"I'$0%H-:e;$0.:#%'&$%H.'Q%I0-D%'&$%&$"'&$:%=.:#B%N&-%N")%"%I0.$:,%-I%'&$%K.:#%-I%
!-0';#">%":,%&",%#0":'$,%&.D%#0-;:,)%I-0%"%I-0'/%<&$%X--0%'&"'%H-:e;$0$,%'&$%H.'Q%N")%"%M",O
D"::$0$,%D":%:"D$,%\">$'$&":B%M-0:%-:%'&$%.)>":,%-I%J;D"'0"%.:%'&$%K.:#,-D%-I%!"H$D%R!")".U%
R!;,7.")';'.B%S225U/%
h&$:%"'%'&$%'.D$%-I%Y-0 #$%,$%L>M;e;$0e;$B%'&$%H.'Q%-I%!"H$D%N")%'"=$:%I0-D%'&$%'Q0":'%
_$.:">%":,%&":,$,%'-%'&$%H0- N :%(0.:H$B%&$%R\"'"&.>>"&U%,$("0'$,%-:%"%)&.(%#-.:#%N.'&%)(.H$)%' -%'&$%
RJ'0".')%-IuU%X$HH"/%a$%)'"Q$,%'&$0$%I-0%'N-%-0%'&0$$%Q$"0)B%>$"0:.:#%'&$%'$"H&.:#)%-I%X-&"DD$,[)%
)$H'/% i(-:% 0$';0:.:#% '-% !"H$DB% &$% I-;:,% -;0% I-0'0$))% H-D(>$'$,% ;:,$0% .')% P"('".:% Z/% L:,0$r %
a$:0.e;$)/% ?$H";)$% '&$% (>"H$% N")% :-'% E.'% I-0% -:$% '-% )(0$",% '&$% X-&"DD$,":% >"N% ,;$% '-% '&$%
:$.#&M-0.:#%!-0';#;$)$%I-0'0$))B%&$%N$:'%MQ%)$"%'-%'&$%H.'Q%-I%Y"("0"B%N&$0$")%"%X--0.)&%=",.B%&$%
#-'%H>-)$%'-%'&$%=.:#%":,%D",$%&.D%"%X--0%N.'&%&.)%)$0D-:)/%L:,%N.'&%&.)%($0D.)).-:B%&$%">)-%
RH-:8$0'$,U%D":Q%&$"'&$:)/%<&$%=.:#%N")%)-%&"((Q%N.'&%'&$%:$N%>"N%&$%&",%",-('$,%'-%)$08$%_-,/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%KF
L)% "% 0$N"0,% '-% \">$'$&":% I-0% '&$% #--,% &$% &",% ,-:$% I-0% &.DB% &$% #"8$% &.D% &.)% ).)'$0% .:%
D"00."#$/%L)%&$%.:'$:,$,%'-%H-:8 $0'%D":Q%($-(>$%'-%&.)%)$H'B%&$%")=$,%($0D.)).-:%I0-D%'&$%=.:#B%
&.)%M0-'&$0O.:O>"NB%'-%#-%'-%?.:'"D%R?":'$:UB%"%H.'Q%-I%J;:,"B%'-%,-%)-/%a$%N")%0$H$.8$,%MQ%"%>$",$0%
-I%'&$%H-;:'0QB%N&-%H-:8$0'$,%":,%($0D.''$,%&.D%'-%#-%"&$",%N.'&%H-:8$0'.:#%($-(>$/%\">$'$&":B%
)$$.:#%'&"'%'&$%H.'Q%N")%0$",Q%I-0%&.D%'-%#-%"&$",%N.'&%&.)%(>":)%":,%'&"'% '&$%=.:#%-I%'&$%>":,%>.8$,%
.:%'&$%7;:#>$B%")=$,%'&$%=.:#B%&.)%M0-'&$0O.:O>"NB%'-%)$:,%&.D%&.)%N.I$%":,%)-D$%($-(>$%'-%")).)'%
&.D/%<&$%=.:#%)$:'%&.D%&.)%N.I$%":,%&$0%'N-%'&-;)":,%D$:%'-%&$>(%&.D%.:%&.)%$:,$"8-0/%h&$:%'&$%
>$",$0%N&-%&",%)&$>'$0$,%&.D%)"N%'&$%'N-%'&-;)":,%D$:B%&$%)$:'%"%D$))"#$%'-%&.)%=.:#%R-I%'&$%
H-;:'0QU/%?;'%\">$'$&":%N")%)-%,$,.H"'$,%":,%N-0=$,%'-N"0,)%'&.)%".D%'&"'%&$%M$H"D$%'&$%0;>$0%
-I%'&$%H.'Q%":,%'&$% H- ;:'0Q).,$/%<&;)B%N&$:%\0":H.)H-%,$%J"n %"00.8$,%"'%'&$%J;:,"%&"0M-0B%'&.)%'Q0":'%
\">$'$&":%&",%);H&%"%&->,%-:%.'%'&"'%&$%,.,%:-'%">>-N%\0":H.)H-%'-%M;.>,%'&$%I-0'/%a$%=.>>$,%)-D$%-I%
\0":H.)H-[)%D$:%":,%,$I$"'$,%&.D%.:%);H&%"%N"Q%'&"'%'"=.:#%H-;:)$>%N.'&%'&$%E>$$'[)%>$",$0)B%#.8$:%
'&$%.:H-:8$:.$:H$)%":,%&-N%.>>%'&$Q%N$0$%(0$("0$,%'-%(;0);$%'&$%N"0B%'&$Q%0$';0:$,%'-%X">"HH"/%
M/ \$0:"-%d-($)%,$%P")'":&$,"%
h&$:%\0":H.)H-%,$%J"r %,$("0'$,%I-0%J;:,"B%&$%N")%H";#&'%.:%);H&%"%&$"8Q%)'-0D%'&"'%'&$%
E>$$'%)&.()%N$0$% )H"''$0$,/% \ 0":H.)H-%,$%J"r %":,%'&$%-'&$0%'&0$$%H"('".:)%N$:'%'&$.0%N"Q/%J'.>>B%Z;"0'$%
P-$>&-B% N.'&% &.)% )&.(B%"% #">>$QB% ":,% "% M0.#":'.:$%'&"'% "HH-D(":Q.:#% &.DB% H">>$,%I-0%)&$>'$0% ":,%
>":,$,%"'%J;:,"B%N&.H&%.)%"% H.'Q% >-H"'$,% "'% '&$%$:,% -I% '&$%.)>":,%-I%J;D"'0"B%">-:#%"%)'0".'%'&"'%
)$("0"'$)% '&$% .)>":,% -I% J;D"'0"%I0-D%'&$% .)>":,% -I% _0$"'%Y"8"/% L:,% '&$0$%"0$%>"0#$% "D-;:')%-I%
($(($0%"0-;:,%'&"'%H.'QB%")%#--,%")%'&"'%I0-D%X">"M"0/%<&.)%>":,%.)%H-->%":,%"M;:,":'%.:%8.H';">)c%
X--0)%(-(;>"'$%.'%":,%&"8$%'&$.0%-N:%=.:#B%"%X--0/%h&$:%Z;"0'$%P-$>&-%0$"H&$,%.'B%'&$%
=.:#%N&-%&",%N.)&$,%'-%&"8$%"%I-0'%N")%:-%>-:#$0%'&$%>-0,%-I%'&$%H.'QB%M;'%'&$%-:$%N.'&%N&-D%&$%
N")%"'%N"0%&",%'"=$:%.'%MQ%I-0H$c%":,%0$D".:$,%'&$0$%'-%'"=$%H-:'0->%-I%.'%I;>>Q/%L:,%'&$%:$N%=.:#%
&",%D":Q%)->,.$0)%":,%N")%":% $:$DQ%-I%'&$%!-0';#;$)$%M$H";)$%&$%=:$N%'&"'%'&$%=.:#%I0-D%N&-D%
&$%&",% '"=$:%'&$%H.'Q%&",%)$:'% '&$D%'-%&$>(%&.D%":,%&",%#0":'$,%'&$D%"%I-0'0$))/%L:,%N&$:%Z;"0'$%
P-$>&-%"00.8$,%M$H";)$%-I%'&$%)'-0DB%'&$%M0.#":'.:$%'&"'%"HH-D(":.$,%&.D%0":%")&-0$/%<&$%'&.0'Q%
!-0';#;$)$%'&"'%N$0$%-:%M-"0,%0$"H&$,%'&$%)&-0$%M;'%N$0$%.DD$,."'$>Q%'"=$:%MQ%'&$%X--0)%":,%
)>";#&'$0$,%M$H";)$%'&$Q%H-:).,$0$,%'&$%!-0';#;$)$%$:$D.$)/%<&$%)&.(%-I%Z;"0'$%P-$>&-%":,%'&$%
#">>$Q%N-;>,%&"8$%M$$:%>-)'%'--B%M;'%I-0%V;0%d-0,%N&-%)" 8 $,%'&$D/% Z;"0'$%P-$>&-B%&" 8.:#%)$$:%
N&"'%&"(($:$,%'-% '&$%H0$N%-I%'&$%M0.#":'.:$B%;:,$0)'--,% '&"'%'&$% H-;:'0Q%N ")%"'%N"0%":,B%N.'&-;'%
\0":H.)H-%,$%J"r%H-:).,$0$,% .'%"%N")'$%-I%'.D$%'-%0$D".:%'&$0$%>-:#$0/%a$%>$I'% ")%)--:%")%'&$% N$"'&$0%
($0D.''$,/%
?$H";)$%-I%Z;"0'$%P-$>&-[)%7-;0:$Q%":,%N&"'%'&$%R:$NU%=.:#%=:$N%"M-;'%&.)%(0$,$H$))-0B%
N&-%&",%(>$,#$,%'-%#0":'%"%I-0'0$))%'-%'&$%!-0';#;$)$B%&$%I$"0$,%'&"'%'&$Q%N-;>,%H-D$%M"H=%N.'&%
"%>"0#$%E>$$'/%?$H";)$%-I%'&"'B%'&$%R:$NU%=.:#%#"'&$0$,%D-0$%($-(>$%'&":%&$% R(0$8.-;)>QU%&",%":,%
)'0$:#'&$:$,%R&.)%(-).'.-:)U%")%D;H&%")%&$%H-;>,/%X$":N&.>$B%\0":H.)H-%,$%J"r %,$("0'$,%N.'&%&.)%
N&->$% E>$$'B%N&.H&%&$%&",% #"'&$0$,% '&0-;#&-;'%'&$%.)>":,%-I% Y"8 "B%N&$0$%.'%"00.8$,% I0-D% ! ":"0;=":/%
i(-:%"00.8">%.:%J;:,"B%&$%)$:'%"%D$))"#$%'-%'&$%=.:#%'-%">>-N%&.D%'-%M;.>,%'&$%I-0'B%")%R">0$",QU%
($0D.''$,%MQ%&.)%(0$,$H$))-0/%?;'%'&$%=.:#%0$I;)$,/%\0":H.)H-%,$%J"r%N$:'%")&-0$%N.'&%&.)%($-(>$%
'-% I-0H$% &.D% '-% ,-% )-B% ":,% ")% '&$% X--0)% N$0$%D":Q% ":,% N$0$% N$>>% (0-'$H'$,B% '&$Q% M"00$,%'&$%
!-0';#;$)$%I0-D%,.)$DM"0=.:#B%=.>>.:#%)-D$%-I%'&$D/%\0":H.)H-%,$%J"r %0$">.^$,%'&"'%&$%H-;>,%:-'%
,.)$DM"0=%":,%0$';0:$,%'-%&.)%)&.()B%=:-N.:#%'&"'%N.'&%'&$%I$N%D$:%&$%&",B%&$%H-;>,%,-%:-'&.:#/%
a$%0$';0:$,%'-% X">"HH"B%N&$0$%&$%:-%>-:#$0%I-;:,%!$0-%X")H"0$:&")B%N&-%&",%>$I'%I-0%9:,."/%J-%&$%
H-;>,%:-'% )$H;0$%D-0$%D$:%I -0%R":-'&$0%$]($,.'.-:%'-U%J;:,"B%:-0%N")%Y-0#$%P"M0">% "M>$%'-%)("0$%
":Q%)->,.$ 0)%M$H";)$%&$%&",%'--%I$N/%a$%&",%7;)'%)$:'%_-:v">-%_-D$)%,$%L^$8$,-%N.'&%&$>(%'-%'&$%
X->;HH")B%")%9%N.>>%0$I$0%'-%>"'$0/%?$H";)$%-I%'&.)B%\0":H.)H-%,$%J"r %H-;>,%:-'%0$';0:%'-%J;:,"%"#".:%
":,%0$';0:$,%'-%9:,."/%
H/ Z.-#-%,-$)%P-;'-%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%KL
h$%N.>>%>$"8$%'&$%"II".0)%M$'N$$:%d-(-%@"^%":,%!$w 0-%X")H"0$:&")%I-0%"%N&.>$%'-%0$(-0'%'&$%
$8$:')%'&"'%'--=%(>"H$%,;0.:#%'&$%);DD$0%.:%'&$%X->;HH")/%?;'%E.0)'B%N$%N.>>%';0:%'-%'&$%7-;0:$Q%-I%
\0":H.)H-%,$%J"r %,$%X$:$)$)B%N&-B%")%N$%&"8$%)".,B%>$I'%I0-D%?.:'"x-%R?.:'":#uU%'-%M;.>,%"%I-0'%.:%
J;:,"B%")%N$%&"8$%0$(-0'$,%M$I-0$/%Z;0.:#%'&$%7-;0:$QB%&$%N")%H";#&'%.:%);H&%"%)'-0D%'&"'%'&$%
N.:,%H";#&'%&.)%)".>)B%":,%)-%&$%N")%)$("0"'$,%I0-D%&.)%E>$$'B%N&.H&%N")%>-)'%":,%)H"''$0$,%")%'&$%
N$"'&$0%N")%",8$0)$%I-0%D":Q%,"Q)/%LI'$0%D":Q%,.IE.H;>'.$)B%Z;"0'$%P-$>&-%&",%"%M.#%)&.(%":,%"%
#">>$Q%N&-)$%H"('".:[)%:"D$%.)%;:=:-N:%'-%;)B%":,%"%(.::"H$%"00. 8 $,%"'%'&$%&"0M-0% -I%J;:,"/%?;'%
'&$%)'-0D%'&0$N%'&$%(.::"H$%")&-0$B%":,%'&$%'&.0'Q%!-0';#;$)$%N&-%N$0$%-:%M-"0,%)N"D%'-%)&-0$B%
N&$0$%'&$Q%N$0$%.DD$,."'$>Q%=.>>$,%MQ%'&$%X--0)%-I%'&$%>":,B%N&-%N$0$%'&$.0%$:$D.$)/%<&$%=.:#%
N&-% &",%N":'$,% "%I-0'%&",%,.$,B%":,%'&$%$:$DQ%N.'&%N&-D%&$%&",%M$$:%"'%N"0%&",%'"=$:%&.)%
=.:#,-D/%<&$%:$N%0;>$0%N")%'&$:%.:%?":'$:B%'&$%D".:%H.'Q%-I%'&$%=.:#,-DB%N.'&%D":Q%($-(>$%'-%
E.:.)&%);M7;#"'.:#%.'/%L)%)--:%")%&$%)"N%-;0%E>$$'B%&$%=:$N%'&"'%&.)%(0$,$H$))-0%&",%-II$0$,%"%I-0'%
.:%'&"'%&"0M-0%'-%'&$%!-0';#;$)$B%":,%'&$0$I-0 $%&$%N ":'$,%'-%'"= $%0 $8$:#$%-:%-;0% ($-(>$/%<&$%)&.(%
":,%'&$%#">>$Q%N-;>,%&"8$%">)-%0;:%")&-0$%.I%:-'%I-0%M$.:#%D.0"H;>-;)>Q%)"8$,%MQ%_-,/%
Z;"0'$%P-$>&-%.DD$,."'$>Q%>$"0:$,%N&"'%R'&$QU%&",%,-:$%'-%'&$%($-(>$%-I%'&$%(.::"H$%":,%
'&"'%'&$%>":,%N")%,.8.,$,/%a$%'&-;#&'%.'%N-;>,%M$%"%N")'$%-I%'.D$%'-%N".'%'&$0$%":Q%>-:#$0B%I-0%&$%
,.,%:-'%=:-N%N&"'%&",%&"(($:$,%'-%'&$%E>$$'%H-DD":,$0/%L)%)--:%")%'&$%)'-0D%H">D$,%,-N:B%&$%
)".>$,%'-%X">"HH"c%M$H";)$%-I%'&$%)'-0DB%\0":H.)H-%,$%J"r %)".>$,%'&$%H-")'%-I%RP$:'0">%-0%C")'U%Y"8"B%
N&$0$%&$% I-;:,%&.)% )&.()%":,%#"'&$0$,%'&$D%.:%'&$%&"0M-;0%-I% ! ":"0;=":/%<&$:%&$%)".>$,% '-%?":'$:%
":,%N$:'%")&-0$/%a$%)$:'%"%D":%'-%'&$%=.:#%'-%0$D.:,%&.D%-I%'&$%<0$"'Q/%\0":H.)H-%,$%J"r%0$)->8$,%
'-%;)$%I-0H$B%M;'%'&$%0$).)'":H$%N")%)'0-:#/%\-;0%!-0';#;$)$%N$0$%=.>>$,B%":,%D":Q%N$0$%N-;:,$,/%
a$%0$';0:$,%'-%X">"HH"/%
,/ _")("0%P-00$"%
h&$:%'&$%#-8$0:-0%&",%>$I'%I0-D%?.:'"x-%I-0%X">"HH"B%R":,%N")%)'.>>U%-:%&.)%N"QB%&$%)$:'%
\0":H.)H-%,$%J"r B%N&-%&",%I">>$:%.>>%.:%X">"HH"%M$H";)$%-I%'&$%D-:)--:/%V:%"00.8">%.:%X">"HH"%&$%
R'&$% #-8$0:-0U% N")% 8$0Q%N$>>% 0$H$.8$,/% a$% -0,$0$,% \0":H.)H-% ,$% J"r % '-% ,$("0'B% M$H";)$% &$% &",%
0$H$.8$,%">>% &$% :$$,$,% ":,%#"8 $% &.D%'&0$$%&;:,0$,% D$:%":,%&.)% )&.(% ":,%-:$% -'&$0%'-%Z;"0'$%
P-$>&-B%N&-%N")%"((-.:'$,%'&$%H-DD":,$0%-I%'&$%(>"::$,%I-0'0$))%")%N$>>%")%H"('".:%-I%'&$%)$"B%
N.'&%-:$%D-0$%#">>.-'%":,%'N-%(.::"H$)/%L:,%,$%J"r%.DD$,."'$>Q%>$I'/%h&.>)'%&$%N")%.:%X">"HH"B%
#0$"'%H-:E.,$:H$%0$E>$H'$,%-:%&-N%'&$%!-0';#;$)$%&",%,$)'0-Q$,%'&$%#0$"'%(-N$0%-I%'&$%=.:#%-I%
?.:'":/%X":Q%:$.#&M-0.:#%=.:#)%$)'"M>.)&$,%($"H$I;>%0$>"'.-:)%N.'&%-;0%($- (>$B%":,%I-0%"%>-:#%'.D$B%
X">"HH"%N")%8 $0Q%(0-)($0-;)/%
<&$%#-8$0:-0%">)-%,.)("'H&$,%Z-D%Y-0#$%'&$%X$:$)$)%'-%'&$%X->;HH")%N.'&%-:$%&;:,0$,%
D$:%-:%'N-%)&.()%":,%D":Q%H>-'&$)%":,%"DD;:.'.-:%-:%"%7;:=%I-0%'&$%I-0'0$))/%9%N.>>%0$>"Q%'&.)%
>"'$0/%?;'B%-:%'&$%N"Q%'-%J;:,"B%\0":H.)H-%,$%J"r%N")%H";#&'%.:%"%&$"8Q%)'-0D%":,%)$("0"'$,%I0-D%
'&$%H-D(":Q/%Z;"0'$%P-$>&-B%.:%&.)%)&.(B%'-#$'&$0%N.'&%'&$%#">>.-'%":,%-:$%(.::"H$B%0$"H&$,%'&$%
&"0M-0%-I%J;:,"B%N&.H&%.)%"'%'&$%$:,%-I%'&$%.)>":,%-I%J;D"'0"B%M;'%-:%"%)$("0"'$%M.#%.)>":,B%N&$0 $%
D;H&%":,%#--,%($(($0%#0-N )%")%.')%D".:%H-DD-,.'QB%$](-0'$,%I0-D%&$0$%I-0%P&.:"/%<&$%>":,%.)%
"M;:,":'%.:%8.H';">)B%8$0Q%>;)&B%":,%&")%#--,%N"'$0B%":,%.)%(-(;>"'$,%MQ%X--0)%N&-%&"8$%'&$.0%
-N:%=.:#/%
h&$:%-;0%($-(>$%"00.8$,B%'&$%=.:#B%N&-%&",%M$$:%-;0%I0.$:,B%&",%">0$",Q%,.$,/%a$%&",%
N":'$,% "% I-0'% M$H";)$% &$%N")% "'% N"0%N.'&% '&$% =.:#%N&-%:-N%0;>$)B%&"8.:#%=.>>$,%'&$%I-0D$ 0%.:%
M"''>$/%<&$%:$N%0;>$0%&",%)$.^$,%'&$%.)>":,%":,%D":Q%-I%.')%($-(>$%N&-%>.8$,%'&$0$/%a$%.)%-;0%$:$DQ%
M$H";)$%N$%&$>($,%'&$%=.:#%&$%=.>>$,B%N&-%&",%H">>$,%-:%-;0%($-(>$%'-%M;.>,%"%I-0'/%
h&$:% Z;"0'$% P-$>&-% "00.8$,% ,;0.:#% '&$% )'-0DB% .'% &"(($:$,% '&"'% '&$% (.::"H$% &",% 0;:%
")&-0$%M$H";)$%.')%0-($)%N$0$%M",/%<&$%X--0)%.DD$,."'$>Q%M;0:$,%.'B%":,%">>%'&$%!-0';#;$)$%N$0$%
=.>>$,/%a"8.:#%)$$:%'&.)%I0-D%'&$%)&.(%":,%'&$%#">>.-'B%'&$Q%,.,%:-'%,"0$%'-%#-%'-%)&-0$%":,%N".'$,%
I-0%'&$%"00.8">%-I%\0 ":H.)H-%,$%J"r B%N&-%&",%#-:$%'-%-'&$0%R("0')%-I%'&$U%.)>":,/%a$%RZ;"0'$U%)$:'%'&$%
)=.II%")&-0$%;:,$0%"%N&.'$%E>"#%'-%,.)H;))%D"''$0)%":,%'-%)$$%.I%.'%N")%(-)).M>$%'-%$)'"M>.)&%($"H$%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%KP
N.'&%'&$%=.:#%":,%M;.>,%'&$%I-0'0$))/%?;'%")%)--:%")%'&$%)=.II%"00.8$,B%.'%N")%"''"H=$,%N.'&%"00-N)%
":,%M;>>$')%I0-D%)&-0$B%":,%)-%.'%';0:$,%M"H=/%L)%\0":H.)H-%,$%J"rB%"I'$0%&"8.:#%'"=$:%H-;:)$>B%&",%
:-%)'0$:#'&%'-%#-%")&-0$%":,%'-%E.#&'B%":,%")%D":Q%-I%&.)%($-(>$%N$0$%).H=B%&$%0$';0:$,%'-%X">"HH"/%
_;.>>-'%":,%LY%a$;=$:%(0-8.,$%,.II$0$:'%.:'$0(0$'"'.-:)%-I%'&.)%$8$:'%Ra$;=$:B%S22SU/%J'.>>B%
.'%H":%M$%H-:H>;,$,%'&"'%'&$%$].)'$:H$%-I%L;'&-0.'"'.8$%9)>"D%.:%?":'$:%.)%'&0-;#&%'&$%>$",$0)&.(%
-I% \"'"&.>>"&B% N&-% H-D$)% I0-D% !")".% RLH$&UB% N.'&% '&$% M>$)).:#% -I% Z$D"=/% <&$% $](;>).-:% -I%
!-0';#;$)$%'0--()%'0Q.:#%'-%H-:'0->%'&$%J;:,"%J'0".'%.:8->8$,%":%">>.":H$%M$'N$$:%!")".%R:-N%.:%
'&$%d&-=)$;D"N$%0$#.-:%.:%LH$&U%":,%Z$D"=B%N&.H&%.)%.:%'&$%Y"8"%0$#.-:/%h.'&%'&.)%.:I-0D"'.-:B%
'&$%E.0)'%9)>"D.H%L;'&-0.'Q%N")%$)'"M>.)&$,%.:%'&$%N$)'$0:%0$#.-:%-I%Y"8"B%N&.H&%"'%'&"'%'.D$%N")%
=:-N:%")%'&$%J;:,"%0$#.-:/%
T/ LH$&%":,%?":'$:%b$>"'.-:)&.(%;:,$0%X$:,$^%!.:'-B%!$0$#0.H"-%%
V'&$0%)-;0H$)%;)$,%":,%'0":)>"'$,%MQ%L7%a$;=$:%")%I->>-N)*%
Z$("0'.:#%I0-D%&$0$%RX">"HH"U% I-0%J;:,"B%.:%)$8$:'$$:% ," Q)B%9% "00.8$,%.:%'&$%(-0'%-I%?":'"DB%
N&.H&%.)%N&$0$%'&$%!-0';#;$)$%;);">> Q%'0",$,/%?;'%).:H$%'&$%H-;:'0Q%N")%'&$:%);II$0.:#%I0-D%"%)$8 $0$%
)&-0'"#$%-I%'&$%($(($0%N$%N$0$%>--=.:#%I-0B%N$%N$0$%I-0H$,%'-%)($:,%'&$%N.:'$0%'&$0$%'&"'%Q $"0B%'-%#-%-:%
'-%P&.:"%MQ%'&$%I->>-N.:#%Q$"0/%
h&$:%&$%&",%M$$:%.:%'&.)%(-0'%I-0%:$"0>Q%'N-%D-:'&)B%($"H$I;>>Q%#-.:#%"M-;'%-;0%'0",.:#%.:%'&$%
>-H">%D"0=$'B%"% N-D":%MQ%'&$%:"D$%-I%A&"Q% !-DM"Q"%"00.8$,%'&$0$%-:%":%$DM"))Q%I0-D%'&$%=.:#%-I%
Z$D"=B% $D($0-0% -I% ">>% '&$% .)>":,)% -I% Y"8"B% K":#$":B% ?">.B% X",;0"B% ":,% ">>% '&$% -'&$0% .)>":,)% .:% '&.)%
"0H&.($>"#-/%J&$% N")% "%N.,-NB%:$"0>Q%).]'Q%Q$"0)%->,B%N&-D%&$%&",%)$:'%'-%,$>.8$0% "% D$))"#$%-:%&.)%
M$&">I%'-%'&$%<"#"0.>B%=.:#%-I%J;:,"B%N&-%N")%">)-%&.)%8"))">B%")%N$0$%">>%'&$%-'&$0%=.:#)%.:%'&.)%D-:"0H&Q%
O%'-%'&$%$II$H'%'&"'%N.'&.:%"%($0.-,%-I%"%D-:'&%":,%"%&">I%&$%N")%'-%D$$'%N.'&%&.D%.:%($0)-:%.:%'&$%H.'Q%-I%
Y"("0"B%N&$0$%&$%N")%'&$:%(0$("0.:#%'-%#-%'-%N"0%"#".:)'%'&$%=.:#,-D%-I%!");0;":/%
!.:'-[)%)'-0Q%:-'$)%"0$%8$0Q%,.II$0$:'%I0-D%(0$8.-;)%0$H-0,)%);H&%")%<-D$%!.0$)%.:%J;D"%V0.$:'">%
":,%Y-"-%Z$%?"00-)%Z$H",")%,"%L)."c%N$%H-;>,%)"Q%'&"'%!.:'-q)%:-'$)%"0$%&">I%"%H&0-:.H>$%-0%)"#"%N&$0$%
'&$%H&"0"H'$0%D$:'.-:$,%.:%'&$%'$]'%.)%&.D)$>I/%9:%'&.)%H")$B%.'%N")%,.)H-8$0$,%'&"'%&$%N")%">)-%:-'%N&$0$%
&$%H>".D$,%'-%M$/%
a-N$8$0B%-:%'&.)%:-'$B%"I'$0%'&$%$:,%-I%'&$%!")".%K.:#,-DB%'&$%!-0';#;$)$%"# ".:%)"N%"%D-8$D$:'%
-I%H--($0"'.-:%M$'N$$:%LH$&B%?":'$:B%":,%Z$D"=/%<&$%!.:'-%D":;)H0.('%$](>".:)%&-N%LH$&B%?":'$:%":,%
Z$D"=% I"H$,% '&$% !");0;":% K.:#,-D% '-#$'&$0/% 9:% '&.)% (&")$B% '&$% )'-0Q% ,$(.H')% '&$% H->>"M-0"'.-:% -0%
">>.":H$%M$'N$$:%'&$%?>"DM":#":%K.:#,-DB%N&.H&%(0$8.-;)>QB%.:%Y-"-%Z"%?"00-)[)%:-'$)B%N")%)".,%'-%M$%
.:%">>.":H$%N.'&%'&$%!-0';#;$)$B%)-%:-NB%'&$%!-0';#;$)$B%?>"DM":#":B%LH$&B%":,%Z$D"=%"0$%.:%">>.":H$%
'-%"''"H=%'&$%!");0;":%K.:#,-D/%<&$0$%&")%M$$:%:-%H-D(0$&$:).8$%0$)$"0H&%.:'-%'&.)%)'"'$D$:'B%M;'%
!-0';#;$)$%&.)'-0.-#0"(&Q%H-:).)'$:'>Q%0$';0:)%H--($0"'.-:%M$'N$$:%?":'$:%":,%LH$&B%$)($H.">>Q%.:%'&$%
9)>"D.^"'.-:%-I%Y"8"/%
3/ A-'$)%-:%)&.(%0-;'$)%M$'N$$:%LH$&%":,%?":'$:%
LH$&%Z"0;))">"D%.:%'&$%14'&%H$:';0Q%,$8$>-($,%.:'-%'&$%>"0#$)'%H.'Q%.:%J;D"'0"B%N&$0 $")%?":'$:%
.:%'&$%14'&%H$:';0Q%">)-%,$8$>-($,%.:'-%'&$%>"0#$)'%H.'Q%.:%Y"8"/%<&$.0%D"0=$')%M$H"D$%D"0=$')%I;>>%-I%
C;0-($":%8.>>"#$)%-0%I"H'-0.$)/%<&$%H-:)'0;H'.-:%-I%'&$%LH$&%jZ"0;,%Z;:Q"k%!">"H$%":,%'&$%H-:)'0;H'.-:%
-I%'&$%?":'$:%jJ;0-);N":k%!">"H$% N.'&%:$N%H.'Q%(>"::.:#%N$0$%H"00.$,%-;'%"'%'&$% )"D$%'.D$%RJ".,"&B%
S2S1U/%A-%).#:.E.H":'%-0%);08.8.:#%0$H-0,)%"0$%)$"0H&.:#%I -0%'0"H$)%-I%H-::$H'.-:%'-%'&$)$%'N-%D"7-0%H.'.$)%
.:%'&$%14'&%H$:';0Q/%C8$:%'&-;#&%'&$)$%'N-%M.#%H.'.$)%">)-%(0-,;H$%($(($0)%":,%)(.H$)%":,%"0$%H$:'$0)%
I-0%'&$%)(0$",%-I%9)>"D/%
9:% ->,% 0$H-0,)B% '&$% H.'Q% -I% V>,% ?":'$:% N")% 8.).'$,% MQ% )&.()% ":,% I-0$.#:% '0",$0)% I0-D% L0"MB%
!-0';#;$)$B%P&.:$)$B% !$0).":B% JQ0.":B% 9:,.":B% <;0=.)&B% Y"(":$)$B% ":,%8"0.-;)% :"'.-:">.'.$)/% 9:,-:$).":%
'0",$0)%I0-D%X">;=;%":,%J;D"'0"%N&-%'0",$,%.:%V>,%?":'$:/%<&$%J;:,"%J'0".'%.)B%-I%H-;0)$B%)'0"'$#.HB%)-%
"%>-'% -I%)&.((.:#% H-D$)% .:/%<&$% H-::$H'.-:%M$'N$$:%LH$&%":,% ?":'$:%.)%0$H-0,$,% ;).:#% .:,.0$H'%":,%
,.0$H'%0 -;'$)/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5!% &''()*++.7))0/0.,N":.:)'.';'$/H-/.,+%
"#$$%!!"#$%K&
V:$%-I%'&$%14'&%H$:';0Q%0$H-0,)%.)%I0-D%<&$%J&;:I$:#%g.":#)-:#%R順⾵相送U/%<&.)%H->>$H'.-:%-I%
P&.:$)$%)".>.:#%,.0$H'.-:)%,"'$)B%.:%.')%$]'":'%I-0DB%I0-D%'&$%14'&%H$:';0QB%M;'%"(($"0)%'-%&"8$%M$$:%M")$,%
-:%$"0>.$0%D"'$0.">)%y%($0&"()%$"0>Q%1F'&%H$:';0Q%)".>.:#%,"'"%H->>$H'$,%,;0.:#%'&$%l&$:#%a$%8-Q"#$)/%
<&$%)->$%D":;)H0.('%-I%'&.)%N-0=% .)%&$>,%.:%'&$%?-,>$.":%d.M0"0Q%"'%V]I-0,%i:.8$0).'QB%":,%'&.)%N")%#.8$:%
'-%'&$%>.M0"0Q%MQ%L0H&M.)&-(%d";,%.:%14T6B%"(("0$:'>Q%&"8.:#%M$$:%(;0H&")$,%I0-D%"%Y$);.'%i:.8 $0).'Q%
.:%C;0-($/%41% <&$% '$]'%(0-8.,$)%0-;'$)%I-0% 122%)($H.E.H% 8-Q"#$)B%-I% N&.H&%S5%0$>"'$%'-%'&$%J-;'&$")'% L).":%
N-0>,/% J-D$% -I% '&$)$% &"8$% M$$:% )';,.$,% ":,% '0":)>"'$,% MQ% X.>>)/<&-)$% 0$>"'.:#% '-% J-;'&$")'% L)."%
Z$)H0.M.:#%0-;'$)%.:H>;,.:#*%
\0-D%K0$;:#%LH$&%'-%?"0;)B%\0-D%?"0;)%'-%!"0."D":B%\0-D%!"0."D":%'-%?":'$:%
<&.)%0-;'$%.)%"%)D">>%0$H-0,%-I%'&$%D":Q%0$H-0,)%'&"'%)&-N%'&$%$] H>;).8$%0$>"'.-:)&.(%M$'N$$:%
?":'$:%":,%L H$&/%b$>"'.-:)%M$'N$$:%M.#%a;M%(-0'%H$0'".:>Q%0$e;.0$%H--0,.:"'.-:%.:%D"''$0)%-I%)$H;0.'Q/%
<&.)%0-;'$%H>$"0>Q%)&-N)%'&$%'0":)I$0%-I%)&.((.:#%0-;'$)%I0-D%'&$%C")'%P-")'%b-;'$%-I%J;D"'0"B%N&.H&%
N")%"'%&.#&%0.)=%-I%M$.:#%H-:'0->>$,%MQ%'&$%!-0';#;$)$B%'-%"%:$N%0-;'$%;).:#%'&$%A$N%b-;'$/%d"'$0%'&.)%
0-;'$%M$H"D$%=:-N:%")%'&$%)(0$",%-I%'&$%9)>"D.H%b-;'$%.:%'&$%14'&%":,%15'&%H$:';0.$)/%
%
CONCLUSION)
<&$% &.)'-0.-#0"(&Q% M")$,% -:% "0H&"$->-#.H">% E.:,.:#)B% $(.#0"(&.H% )';,.$)B% ":,% (&.>-)-(&.H">%
":">Q)$)%)'0-:#>Q%.:,.H"'$)%"%).#:.E.H":'%":,%.:'.D"'$%&.)'-0.H">%H-::$H'.-:%M$'N$$:%LH$&%":,%?":'$:/%
<&.)%.)%$]$D(>.E.$,%MQ%'&$%;'.>.^"'.-:%-I%'&$%?"'$$%Y.0"'%?"';%LH$&%#0"8$)'-:$%")%'&$%0-Q ">%#0"8$ Q "0,%-I%
'&$%J;>'":"'$%.:%?":'$:/%<&$%&.)'-0.H">%">.#:D$:'%N.'&%Y-"-%Z"%?"00-)[%"HH-;:'%I;0'&$0%0$.:I-0H$)%'&$%
:-'.-:%'&"'%?":'$:%$8->8$,%.:'-%":%9)>"D.H%K.:#,-D%,;$%'-%'&$%.:E>;$:H$%-I%E.#;0$)%-0.#.:"'.:#%I0-D%LH$&B%
("0'.H;>"0>Q%\"'"&.>>"&%I0-D%!")"./%9:'$0$)'.:#>QB%'&$%!-0';#;$)$%&.)'-0.-#0"(&Q%H-:).)'$:'>Q%&.#&>.#&')%
'&$%.:'$0H-::$H'$,:$))%-I%'&$%?":'$:%J;>'":"'$%N.'&%'&$%D-8$D$:')%-I%LH$&%":,%Z$D"=/%9:%H-:'0")'B%'&$%
Z;'H&% ($0.-,% &.)'-0.-#0"(&Q% $.'&$0% .:' $:'.-:">>Q% )$8$0)% -0% :$#>$H')% '&.)% H-::$H'.-:/% <&$% 'Q(->-#Q%
H>")).E.H"'.-:%0$8$">)%"%,.8$0#$:H$%.:%'-DM)'-:$%(0-,;H'.-:%M$'N$$:%LH$&%":,%?":'$:B%(0-D('.:#%'&$%
:$$,%I-0%D-0$%H-D(0$&$:).8$%0$)$"0H&%":,%,"'"%H->>$H'.-:%-:%?":'$:[)%(0-,;H'.-:%.')$>I/%P-:)$e;$:'>QB%
'&$0$%.)%"%H0;H.">%0$e;.0$D$:'%I-0%H->>"M-0"'.8$%$II-0')%M$'N$$:%&.)'-0.H">%"H'.8.)')%.:%?":'$:%":,%LH$&%
'-% ,$> 8 $% ,$$($0% .:'-% '&.)% 0$>"'.-:)&.(B% $:H-D(")).:#% ")($H')% );H&% ")% N-0>,% #$-(->.'.H)B% $H-:-D.H)B%
)$H;0.'QB%)-H.">%H;>';0$B%":,%0$>.#.-:/%_-8$0:D $:')%=$$:%-:%0$D"((.:#%'&$%J(.H$%b-;'$%H":%(>"Q%"%(.8-'">%
0->$% .:%I"H.>.'"'.:#% ":,%$:H-;0"#.:#%'&$)$%'0"H.:#% $II-0')/% 9:%,-.:#%)-B% "% D-0$%:;":H$,%":,% H-D(0$&$:).8$%
;:,$0)'":,.:#%-I%'&$%&.)'-0.H">%'.$)%M$'N$$:%LH$&%":,%?":'$:%H":%M$%;:8$.>$,/%
%
REFERENCES)
\",.>>"&B% X/%L/%RS2STU/% !.:##.0":%J$>"'":%K-'"% ?":'$:*% 9:8$)'.#").%L0=$->-#.%J.';)%d"N":#%LM":#/%1723,9'#<(
@$".'5(4&$'7.,52,9#,&%,7 '5(!"7(A'(B/&.'(4&5"#,&.,'&B%CDEB%TyTF/$
_">>-(B%L/%</%RS22TU/%J$8$:'$$:'&OH$:';0Q%9:,-:$).":%>$''$0)%.:%'&$%(;M>.H%0 $H- 0,%-IE.H$/%4&./&'5,%(%&.($3'(
B%#%?(F/7#.B%GCR61UB%31Sy3T6/%
_&"II"0B% A/% L/% RS21FU/% <")"N;I% ,":% !$:Q$M"0":% 9)>"D% ,.% 9:,-:$)."/% H,3#%3I( ;"7&%#( !'J%7%3( >%&(
+'K".%?%%&B%GR21UB%4`y56/%
_;.>>-'B%P/B%LDM"0QB%a/%X/B%f%Z;D"0H"QB%Y/%R1662U/%<&$%);>'":"'$%-I%?":'$:/%LM/(:,$#'N/%
a$0:"N":B%h/B%f%K;),.":"B%L/%RS2S2U/%),/-7%O,(!"&%&(6"&"&-(>J%$,I(!%&-(P'&%$%(1-%0%(>,(:%&%3(!"&.%/%
d!SX%i9A%J;:":%_;:;:#%Z7"'.%?":,;:#/%
a$;=$:B% !/% L/% RS22SU/% <&$% $"0>.$)'% !-0';#;$)$% )-;0H$)% I-0% '&$% &.)'-0Q% -I% Y"="0'"*% .:H>;,.:#% ">>% -'&$0%
&.)'-0.H">%,-H;D$:')%I0-D%'&$%F'&%'-%'&$%14'&%H$:';0.$)/%LM/(:,$#'N/%
d"DM-;0:B% C/% RS223U/%<&$% I-0D"'.-:% -I%'&$% M"';% LH$&% '0",.'.-:%.:% E.I'$$:'&OH$:';0Q% J"D;,$0" O!")"./%
4&./&'5,%(%&.($3'(B%#%?(F/7#.B%GQR6TUB%S11yS3`/%
X;="00-DB%L/%RS213U/%J$7"0"&%9)>"D%9:,-:$)."%9/%=4M(!"&%&(109'#/%
!;,7.")';'.B%</%RS225U/%P'7%&-*(.%-%&-*( 9'75%3%K%$%&I(5"7%$R5"7%$(!"#$%&()%&$'&/%W"Q")":%VM-0%9:,-:$)."/%
"1*>(1'*)?1'8!#?0(1'8!?@!$?A)'8!$>(B)A>!'14!%>7>'(A5B%%
J"0."'%L0.E."
1
B%X.^;"0
2
B%X;:"N.0
3
B%W",.%L&Q",.
4
B%L)>.D%L=D">
5
%
"#$$%!!"#$%KC
J".,"&B%A/%RS2S1U/%+%#,-7%O,(17%K(.,( )%&-"&%&(+'7%$/&( S/-?%T%7$%/%!")H")"07":"%\9<K%i9A%J;:":%K">.7"#"%
W-#Q"="0'"/%
J.0$#"0B%Z/%9/%RS2STU/%L:">.).)%P->>"M-0"'.8$%_-8$0:":H$%Z">"D%X$:#$>->"%J.';)%?$0)$7"0"&%Z.%LH$&/%;"7&%#(
4#0,%3(B%3%5,5U%(V%T"#$%5(4#0"(!/5,%#(W(4#0"(P/#,$,TB%XR3U/%
J.0-7;,,.:B%L/%b/%RS213U/%!$'"%!$0=$DM":#":%K">.#0"E.%9)>"D%,.%9:,-:$)."/%1#R:"7%5B%QDR1UB%S16ySTS/%
J;&"$,.B%a/%J/%RS216U/%C':.)%?":'$:%,.%A$#$0.%?-0:$-/%+%U%#"I(;/"7&%#(/Y(A/2%#(Z"#$"7'B%[RSUB%SFyFS/%
J;:":,"0B%X/%A /%RS21 ` U/%P'7%&($/T/3(%-%0%(.%#%0(5,5$'0(K,7/T7%5,(+'5"#$%&%&()%&$'&(1K%.(\]44/%
h",$B%_/%RS21TU/%X"0.'.D$%b-;'$)%?$'N$$:%9:,-H&.:"%":,%A;)":'"0"%'-%'&$%1`'&%P$:';0Q /%1723,9'#B%XER1UB%
`Ty123/%
W"'.DB%V/%X/%R16``U/%)%$"(12'3I('%7#?(,5#%0,2(-7%8'5$/&'5(,&(9'&,&5"#%7(B%#%?5,%/%X;)$;D%L))-H."'.-:%-I%
X">"Q)."/%
%
=?J6()E5*!5?84>(f!
J"0."'%L0.E."B%X.^;"0B%X;:"N.0B%W",.%L&Q",.B%L)>.D%L=D">%RS2S3U!
!
D)(7*!J0Q8)A'*)?1!()E5*7f!
9:'$0:"'.-:">%Y-;0:">%-I%J-H.">%J$08.H$%":,%b$)$"0H&%R9YJJbU%
!
<5)7!'(*)A8>!)7!8)A>17>4!014>(f!
!
!
!