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Marathon Petroleum — View Report (company IR deck)
Marathon Petroleum (MPC) · 41 slides · Filed Oct 21, 2026
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Slide 1 — B L I M @ T Dª R D L @ T
B 6 D E B 6 4 F ; H 6 E A @ B L I M @ T Dª R D L @ T S B D N @ R I O S R e p g p [ k _ O m m l o q r k e q e ‘ p $ 8 * 8 6 7
Slide 2 — F M O Z R
F M O Z R ^ S 4 ^ ] c R ] c b @ M ‘ p p [ c ‘ a o l j O r o B D O M P B [ k _ M P L X O m ‘ o [ q e l k p I k q o l _ r ^ q e l k F l s ‘ o k [ k ^ ‘ A l [ o _ O s ‘ o p e c d q R e p g M [ k [ c ‘ j ‘ k q S q o [ q ‘ c v [ k _ S ^ ‘ k [ o e l P h [ k k e k c P l q ‘ k q e [ h R e p g p [ k _ O m m l o q r k e q e ‘ p A r p e k ‘ p p P h [ k k e k c [ k _ B [ m e q [ h @ h h l ^ [ q e l k R ‘ a e k e k c [ k _ M [ o g ‘ q e k c M e _ p q o ‘ [ j R ‘ k ‘ t [ ] h ‘ E r ‘ h p M [ k [ c e k c P d v p e ^ [ h R e p g p q l O r o E [ ^ e h e q e ‘ p B h e j [ q ‘ª R ‘ h [ q ‘ _ M ‘ q o e ^ p [ k _ T [ o c ‘ q p S ^ l m ‘ ¢ F H F D j e p p e l k p I k q ‘ k p e q v E l ^ r p l k D k ‘ o c v S ^ l m ‘ F H F D j e p p e l k p M ‘ q d [ k ‘ I k q ‘ k p e q v E o ‘ p d t [ q ‘ o W e q d _ o [ t [ h I k q ‘ k p e q v B h e j [ q ‘ª R ‘ h [ q ‘ _ M ‘ q o e ^ p T B E C R ‘ ^ l j j ‘ k _ [ q e l k I k _ ‘ u * / 2 6 6 $ 5 < 2 ) 7 ( 5 0 6 c e c [¾ M ‘ q o e ^ m o ‘ a e u a l o « [ ] e h h e l k‹ I D @¾ I k q ‘ o k [ q e l k [ h D k ‘ o c v @ c ‘ k ^ v I P B B¾ T d ‘ U k e q ‘ _ N [ q e l k p I k q ‘ o c l s ‘ o k j ‘ k q [ h B d [ k c ‘ L C @ R¾ L ‘ [ g _ ‘ q ‘ ^ q e l k [ k _ o ‘ m [ e o L N F¾ L e n r ‘ a e ‘ _ k [ q r o [ h c [ p L P F¾ L e n r ‘ a e ‘ _ m ‘ q o l h ‘ r j c [ p M P B¾ M [ o [ q d l k P ‘ q o l h ‘ r j B l o m l o [ q e l k M P L X¾ M P L X e p [ _ e s ‘ o p e a e ‘ _¿ h [ o c ‘ª ^ [ m j [ m [ o q k ‘ o p d e m a l o j ‘ _ ] v M [ o [ q d l k P ‘ q o l h ‘ r j l t k p [ k _ l m ‘ o [ q ‘ p j e _ p q o ‘ [ j ‘ k ‘ o c v e k a o [ p q h l c e p q e ^ p [ p p ‘ q p¿ [ k _ m o l s e _ ‘ p a r ‘ h p _ e p j j ] q r¾ M e h h e l k j ‘ q o e ^ A o e q e p d q d ‘ o j [ h r k e N F L¾ N [ q r o [ h c [ p h e n r e _ Ø [ h e c d q d v _ o l ^ [ m o l _ r ^ ‘ _ t e q d k [ q r o [ h c [ p N Z D¾ I D @Ò p N ‘ qª Z ‘ o l D j e p p e l k p ] v p ^ ‘ k P P D¾ P ‘ o p l k [ h m o l q ‘ ^ q e s ‘ ‘ n r e m j ‘ k q R ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h ¾ R ‘ k ‘ t [ ] h ‘ a r ‘ h ^ l k p e p q e k c l a j l h ‘ ^ r h ‘ p¿ m o l _ r ^ ‘ _ q d o l r c d q d ‘ d v _ o l q o ‘ [ s ‘ c ‘ q [ ] h ‘ l e h p¿ [ k _ o ‘ ^ v ^ h ‘ _ c o ‘ [ p ‘ a ‘ ‘ _ p q R N F¾ R ‘ k ‘ t [ ] h ‘ k [ q r o [ h c [ p S ^ l m ‘ ‘ j e p p e l k p¾ @ h h _ e o ‘ ^ q F H F ‘ j e p p e l k p ] e k ^ h r _ e k c a r ‘ h ^ l j ] r p q e l k¿ ^ l j m [ k v s ‘ d e ^ h ‘ j e p p e l k p S ^ l m ‘ ‘ j e p p e l k p¾ I k _ e o ‘ ^ q F H F ‘ j e p p e l k p a o l j ^ l k p r j m q e l k l a m r o ^ d [ p ‘ _ ‘ h ‘ ^ q o e ^ e q v¿ d ‘ S ^ l m ‘ ‘ j e p p e l k p ¾ O q d ‘ o e k _ e o ‘ ^ q F H F ‘ j e p p e e k [ ^ l j m [ k vÒ p s [ h r ‘ ^ d [ e k q d [ q [ o ‘ k l q ^ [ m p ^ a¾ S q [ k _ [ o _ ^ r ] e ^ a ‘ ‘ q T B E C¾ T [ p g E l o ^ ‘ l k B h e j [ q ‘ª o ‘ h [ q ‘ _ E e k [ k ^ p q l k k ‘ l o j ‘ q o e ^ q l k¾ ¿ m l r k _ p W D O¾ I D @ W l o h _ D k ‘ o c v O r q h l l g [ m m o l u e j [ q ‘ h v ¾ T d ‘ ÑÑ e p r p ‘ _ q d o l r c d l r q q d ‘ j ‘ [ k p [ m m o l u e j [ q ‘ l o [ m m o l u e j [ q ‘ h v ] [ o o ‘ h¾ U… S… c [ h h l k p Ø [ ^ l j j l k s l h r j ‘ j ‘ [ p r o ‘ a l o ^ o r _ ‘ l e h [ k _ m ‘ q o l h ‘ r j m o l _ r ^ q p ] [ o o ‘ h l a l e h ‘ n r e s [ h ‘ k q l o ] l ‘¾ @ r k e q l a ‘ k ‘ o c v ] [ p ‘ k ‘ o c v o ‘ h ‘ [ p ‘ _ ] v ] r o k e k c l k ‘ ] [ o o ‘ h l a ^ o l e h ¿ l o … j e h h e l k A o e q e p d q d ‘ o j [ h r k e q p ] ^ j¾ A e h h e l k ^ r ] e ^ j ‘ q ‘ o p Ø [ j ‘ [ p r o ‘ l a k [ q ] m ^ _¾ A [ o o ‘ h p m ‘ o ^ [ h ‘ k _ [ o _ [ v Ø q d ‘ [ s ‘ o [ ^ o r _ ‘ l e h l o l q d ‘ o a ‘ ‘ _ p q l ^ g [ o ‘ a e k ‘ o v m o m ‘ o e l _ l a q e j ‘¿ _ e s e _ ‘ _ ] v q d ‘ k r j ] ‘ o l a _ [ q v m e ^ [ h h v _ [ v p « [ ^ l j j l k o [ q ‘ j ‘ [ p r o ‘ a o ‘ a e k ‘ o e ‘ p‹ ] m _¾ A [ o o ‘ h p m ‘ o _ [ v Ø [ ^ l j j l k o [ q ‘ j ‘ [ p r o [ k _ m ‘ q o l h ‘ r j m o l _ r ^ q p ] h r ‘ d v _ o l c ‘ k¾ H v _ o l c ‘ k m o l _ r ^ ‘ _ q d o l r c d [ o ‘ p ‘ m [ o [ q ‘ p j ‘ q d [ k ‘ e k q l d v _ o l c ‘ k [ k _ B O [ k _ q d ‘ k ^ [ m [ k _ p ‘ n r ‘ p q ‘ o p q d ‘ B O B B U S¾ B [ o ] l k ^ [ m q r o ‘¿ r q e h e x [ q e l k [ k _ p ‘ n r B O ‘¾ B [ o ] l k _ e l u e _ ‘ ‘ n r e s [ h ‘ k q Ø [ ^ l j j l k r j ‘ [ p r o ‘ j ‘ k q ^ l k s ‘ o q e k c s [ o e l r p c o ‘ ‘ k d l r p ‘ c _ e l u e _ ‘ l k q d ‘ ] [ p e p l a q d ‘ e o c h l ] [ hª t [ o j e k ^ [ h ^ r h [ q ‘ p B O ‘ r p e k c q d ‘ D P @ a [ ^ q l o p e _ ‘ k q e e k B E R P [ o q ^ l j m [ k v t e _ ‘¾ M ‘ [ k p e k ^ h r p e s ‘ l a [ h h l m ‘ o [ q e [ k _ M P L X _ ‘ c o ‘ ‘ p B ‘ h p e r p¾ 3 B D I @¾ T d ‘ U… S… D k ‘ o c v I k a l o j [ q e l k @ _ j e k e p D P @¾ T d ‘ U… S… D k s e o l k j ‘ k q [ h P o l q ‘ ^ q e l k D R M¾ D k q ‘ o m o e p ‘ R e p g M [ k [ c ‘ j ‘ k q D S F¾ D k s e o l k j ‘ k q [ h¿ p l ^ e [ h [ k _ c l s ‘ o k [ k ^ ‘ ‘ u [¾ M ‘ q o e ^ m o ‘ a e u a l o « [ n r e k q e h h e l k‹ F H F¾ F o ‘ ‘ k d l r p ‘ c [ p ‘ p¿ p r ^ d [ p ^ [ o ] l k _ e l u e j ‘ q d [ k ‘
Slide 3 — 2 ? R b b M U R S a ^ \ A d a 4 6 A
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R b b M U R S a ^ \ A d a 4 6 A $ W 0 D U D W K R Q D Q G 0 3 / ; Z H H [ H F X W L P S U R Y H P H Q W P L Q G V H W X S K R O G L Q I R U R X U V H O Y H V D Q G Q H Y H U D F F H S W U D L W V D U H N H \ F R P S R Q H Q W V R I R ( [ F H O O H Q F H D Q G W K H \ D O V R F K D U F O L P D W H U H O D W H G U L V N V D Q G R S S L Q G H S H Q G H Q W U H I L Q H U W R S X E O L V U H O D W H G ) L Q D Q F L D O ’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p U H V L O L H Q F H U H O D W L Y H G R P H V W L F D O O \ D Q G J O R E D O O \ l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’ L F N L Q V R Q K D Y H D O V R L Q Y H V W H G L Q U H Q H Z D E F D S W X U H D Q G P R U H W R F R P S O H P H Q R I I H U L Q J V : H K D Y H F R Q V L V W H Q W O \ Z R U N H G W R U H G X F H W K H F D U E R Q L Q W H Q V L W \ D Q G H Q Y L U R Q P H Q W D O I R R W S U L Q W R I W K H H Q H U J \ Z H S U R Y L G H G U L Y H Q E \ R X U D P E L W L R X V V H W R I J R D O V W R U H G X F H R X U X V H R I I U H V K Z D W H U G H F U H D V H R X U P H W K D Q H H P L V V L R Q V L Q W H Q V L W \ D Q G O R Z H U R X U J U H H Q K R X V H J D V H P L V V L R Q V L Q W H Q V L W \ I U R P W K H L U U H V S H F W L Y H E D V H O L Q H V 6 F R S H D Q G J U H H Q K R X V H J D V H P L V V L R Q V L Q W H Q V L W \ L V G R Z Q I U R P L W V E D V H O L Q H I U H V K Z D W H U Z L W K G U D Z D O L Q W H Q V L W \ L V G R Z Q I U R P L W V E D V H O L Q H D Q G P H W K D Q H H P L V V L R Q V L Q W H Q V L W \ K D V E H H Q U H G X F H G E \ D Q L P S U H V V L Y H I U R P L W V E D V H O L Q H 7 K H H Q H U J \ H I I L F L H Q F \ R I R X U R S H U D W L R Q V F R Q W L Q X H V W R E H D S D U W L F X O D U S R L Q W R I S U L G H D Q G D Q R W K H U H [ D P S O H R I R X U & R U H 9 D O X H R I ( [ F H O O H Q F H & R O O H F W L Y H O \ Z H K D Y H H D U Q H G P R U H 8 6 ( 3 $ ( 1 ( 5 * < 6 7 $ 5 p U H F R J Q L W L R Q V W K D Q D O O R W K H U U H I L Q H U V F R P E L Q H G 2 X U % O X H V W R Q H Q D W X U D O J D V S O D Q W L Q 3 H Q Q V \ O Y D Q L D L V W K H I L U V W D Q G R Q O \ I D F L O L W \ L Q W K H 8 6 Q D W X U D O J D V S U R F H V V L Q J V H F W R U W R W D N H D Q G D F K L H Y H W K H ( 3 $p V ( 1 ( 5 * < 6 7 $ 5 p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o v [ k k T… M [ k k ‘ k 3 U H V L G H Q W D Q G & ( 2 0 3 & D Q G 0 3 / ;
Slide 4 — ? B 4 M ] Q ? B > J A _ R a M c W ^ ] b
? B 4 M ] Q ? B > J A _ R a M c W ^ ] b $ 3 3 5 2 ; P L O O L R ] [ o o ‘ h p m ‘ o ^ [ h ‘ k l a ^ o r _ ‘ l e h o ‘ a e k ^ [ m [ ^ e q v $ 3 3 5 2 ; E L O O L c [ h h l k p l a o ‘ k ‘ t [ ] _ ‘ h e s ‘ o ‘ _ e k E L O O L p q [ k _ [ o _ ^ r ] e ^ a ‘ _ [ v l a k [ q r o [ h c [ p m o l ^ ‘ p p e k c ^ [ m [ ^ ] [ o o ‘ h p m ‘ o _ [ v l c [ p h e n r e _ p a o [ ^ q ^ [ m [ ^ e q v
Slide 5 — ; ] c a ^ Q d P c W ^ ]
E e c r o ‘ … T l q [ h P o e j [ o v D k ‘ o c v C ‘ j [ k _ ; ] c a ^ Q d P c W ^ ] A d a M ] ] d M Z B R a b _ R P c W e R b ^ ] 4 Z W \ M c Ry D R Z M c R Q E P R ] M a R _ ^ a c S ^ Z Z ^ f b a R _ ^ a c W ] U U d W Q R Z W ] R b R b c M O Z W b V R Q O h c V R F M 5 W b P Z ^ b d a R b H F 4 7 5I\ S ^ a \ R Q O h c V R 7 W ] M ] P W M Z E ^ S S W ] M ] P W M Z _ ^ Z W P h \ M Y R a b a R _ a R b R ] c W ] U c V R f F 4 7 5m b _ a W \ M a h ^ O X R P c W e R W b c ^ Q R e R Z ^ _ e ^ Z d ] c M Q W b P Z ^ b d a R b c V M c R ] V M ] P R c a M ] b _ M a R ] P h M ] Q _ a ^ W ] S ^ a \ M c W ^ ] ^ ] V ^ f P ^ \ _ M ] W R b M a R \ M ] M U W ] U P Z W ^ _ _ ^ a c d ] W c W R bY 3 h S ^ Z Z ^ f W ] U c V W b S a M \ R f ^ a Y\ ? B 4 _ a R b R ] c b M ] R M M a R M b[ U ^ e R a ] M ] P R\ a W b Y \ M ] M U R \ R ] c\ b c a M c R U h M ] Q c M a U R c b Y I R R e M Z d M c R ^ d a O d b W ] R b b M U M W ] b c e M a W Z R b b c V M ] p 4 b P R ] M a W ^ \ W ] P Z d Q W ] U b R e R a M Z Y ˆ 4 b P R ] M a W ^ b\ M e M W Z M O Z 2 U R ] P h H ; 6 2I M ] Q c V R G ] W c R Q @ M c W ^ ] b ; ] c R a U ^ e R H ; B 4 4IY F V R b R b P R ] M a W ^ b M P c M b M _ a R Q W P c W e R d ] Q R a Q W S S R a R ] c Z ^ f R ay P M a O ^ ] R P ^ ] ^ \ h ^ d c P ^ \ R bY @ ^ c M Z Z b P R ] M a W ^ b a R Z h V R M e W Z h ^ ] R Z W \ W ] M c W ^ d c P ^ \ RY E R e R a M Z W ] P ^ a _ ^ a M c R \ ^ a R W ] P Z d b W e R R P ^ M Z f W c V ] M c d a M Z U M b\ R ] V M ] P W ] U R ] R a U h R S S W a R ] R f M O Z R b M ] Q ] d P Z R M a R ] R a U h\ W \ _ Z R \ R ] c W ] U P Ry b \ M a c M U a W P d Z c d M Q e M ] P W ] U P M a O ^ ] P M _ c d a R\ d c W Z W j M c W ^ ] M ] Q b R Z W S R b c h Z R M ] Q O R V M e W ^ a M Z P V M ] U R bY L l k cª q ‘ o j ‘ k ‘ o c v p ‘ ^ r o e q v [ k _ o ‘ h e [ ] e h e q v j r p q o ] ‘ m r o p r ‘ _ e k m [ o [ h h ‘ h t e q d ^ [ o ] l kª o ‘ _ r ^ q e l k [ j ] e ‘ ^ l k l j e ^ [ k _ p l ^ e ‘ q [ h _ ‘ s ‘ h l m j ‘ k q … 2 b W Z Z d b c a M c R Q W ] 7 W U d a R \ d ] Q R a c V R ; 6 2 E c M c R Q B ^ Z W P W U Z ^ O M Z R ] R a U h Q R \ M ] Q W b ^ O b R a e R Q\ Q a W e R ] _ a W Q R e R Z ^ _ W ] U R P ^ ] ^ \ W R b H 6 ? 5 6I\ b d P V M b ; ] Q W M\ E ^ 2 S a W P MY F V R b R R P ^ ] ^ \ W R b \ f V W P V a R _ a R b R ] c c V R \ M X ^ a W c h ^ M a R R g _ R a W R ] P W ] U b d b c M W ] R Q W ] P a R M b R b W ] R ] R U a ^ f c V\ R g _ M ] Q W ] U R P ^ ] ^ \ W P M P c W e W c h\ M ] Q ^ ] U ^ ; ] M Q Q W c W ^ ]\ M P P R b b c ^ \ ^ Q R a ] R ] R a U h b ^ d a P R b a R [ \ W Z Z W ^ ] _ R ^ _ Z R b c W Z Z Z M P Y M P P R b b c ^ R Z R P A e R a O W Z Z W ^ ] _ R ^ _ Z R Q ^ ] ^ c V M e R M P P R b b c ^ P b F V W b a R _ a R b R ] c b a ^ d U V Z h M ‘ d M a c R a ^ S c V R U Z ^ O M Q e M ] P R R P ^ ] ^ \ W R b M a R R g _ R a W R ] P W ] U M b Z ^ f Q ^ f ] W ] R ] R a \ W ] S Z d R O h S M P c ^ a b b d P V M b R ] R a U h R S S W P W R ] P h W \ _ a ^ e R \ ‘ u [ f l r h ‘ p m ‘ o v ‘ [ o @ _ s [ k ^ ‘ _ D ^ l k l j e ‘ p D j ‘ o c e k c j [ o g ‘ q [ k _ _ ‘ s ‘ h l m e k c ‘ O m ‘ o [ q e l k [ h D u ^ ‘ h h ‘ k ^ ‘ [ k _ D k s e o l k j ‘ k q [ h S q ‘ t [ 2 b ^ ] R ^ S c V R Z M a U R b c b d _ _ Z W R a b ^ S c a M ] b _ ^ a c ? B 4 a R \ M W ] b b c R M Q S M b c W ] ^ d a P ^ \ \ W c \ R ] c c ^ \ R O ^ c V Q ^ \ R b c W P M Z Z h M ] Q W ] c R a ] M c W ^ ] M Z Z hY I R b ^ Z d c W ^ ] b c V M c Q R Z W e R a a R M Z R ] e W a ^ ] \ R ] c M Z S ^ P d b ^ ][ F V R b M S R M ] Q a R Z W M O Z R ^ _ R a M c W ^ ] b ^ S ^ d a M G _ V ^ Z Q W ] U ^ d a P ^ a R e M Z d R ^ S R ] e W a ^ ] \ R ] c M Z b c R f M a Q b V W _ R ] R a U h R S S W P W R ] P h D R Q d P W ] U ^ d a E P ^ _ R M ] Q U a R R ] V ^ d b R U M b > ^ f R a W ] U c V R \ R c V M ] R R \ W b b W ^ ] b W ] c R ] b W c h @ p t ‘ [ _ s [ k ^ ‘ q d ‘ p ‘ c l [ h p¿ t ‘ ^ l k q e k r ‘ q l m o e l o e q e o ‘ h e [ ] h ‘¿ ^ l p qª ‘ a a ‘ ^ q e s ‘ ‘ k ‘ o c v q d [ q p r m m l o q p q d ‘ p ‘ o s e ^ ‘ p p l ^ e ‘ q v _ ‘ m ‘ k _ p l k ‘ s ‘ o v _ [ v… W ‘ ] ‘ h e ‘ s ‘ q d [ q q d ‘ [ k [ h v p e p m o ‘ p ‘ k q ‘ _ e k q d e p o ‘ l q d ‘ o _ e p ^ h l p r o ‘ p¿ d ‘ h m _ ‘ j l k p q o [ q ‘ q d [ q M P B [ k _ m l p e q e l k ‘ _ a l o q d ‘ a r q r o ‘¿ ‘ s ‘ k e k [ ^ [ o ] l kª ^ l k p q o [ 5 M c M b ^ d a P R[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y
Slide 6 — 8 ^ e R a ] M ] P R
8 ^ e R a ] M ] P R 2 c ? B 4\ d ] Q R a c V R Z R M Q R a b V W _ M ] Q Q W a R P c W ^ ] ^ S ^ d a 3 ^ M a Q ^ S 5 W a R P c ^ a b\ f R W Q R ] c W S h M ] Q \ M ] M U R P Z W \ M c Ry a R Z M c R Q a W b Y b M ] Q ^ _ _ ^ a c d ] W c W R bY A d a Q W a R P c ^ a b O a W ] U M a M ] U R ^ S O M P Y U a ^ d ] Q b\ P a W c W P M Z b Y W Z Z b\ _ R a b _ R P c W e R b M ] Q R g _ R a c W b R c ^ ^ d a 3 ^ M a QY 7 ^ a \ ^ a R W ] S ^ a \ M c W ^ ] ^ ] c V R W ] Q W e W Q d M Z ‘ d M Z W S W P M c W ^ ] b ^ S R M P V ^ S ^ d a Q W a R P c ^ a b\ _ Z R M b R b R R ^ d a Z M c R b c B a ^ g h E c M c R \ R ] c M e M W Z M O Z R M c V c c _ b[§§ f f fY \ M a M c V ^ ] _ R c a ^ Z R d \Y P ^ \§ ; ] e R b c ^ a b§ 2 ] ] d M Zy D R _ ^ a cy B a ^ g hy E c M c R \ R ] c§ Y A l [ o _ O s ‘ o p e c d q 6 8 6 7 $ , 1 $ % , / , 7 < * 2 9 ( 5 1 $ 1 & ( A d a _ R a S ^ a \ M ] P R\ a W b Y b M ] Q ^ _ _ ^ a c d ] W c W R b a R Z M c R Q c ^ b d b c M W ] M O W Z W c h c ^ _ W P b\ W ] P Z d Q W ] U P Z W \ M c R P V M ] U R\ M a R W Q R ] c W S W R Q M ] Q \ M ] M U R Q O h P ^ \ _ M ] h Z R M Q R a b V W _\ f W c V c V R ^ e R a b W U V c ^ S ^ d a 3 ^ M a QY F V R 3 ^ M a Qm b P ^ \ \ W c c R R b M a R a R b _ ^ ] b W O Z R S ^ a b _ R P W S W P M a R M b ^ S ^ e R a b W U V c M ] Q _ ^ Z W P h Q R P W b W ^ ]y \ M Y W ] UY F V R b _ R P W S W P a R b _ ^ ] b W O W Z W c W R b ^ S c V R 3 ^ M a Qm b P ^ \ \ W c c R R b M a R ^ d c Z W ] R Q W ] ^ d a 4 ^ a _ ^ a M c R 8 ^ e R a ] M ] P R B a W ] P W _ Z R b M ] Q W ] R M P V P ^ \ \ W c c R Rm b P V M a c R aYT A d a R g R P d c W e R Z R M Q R a b V W _ c R M \ V ^ Z Q b _ a W \ M a h a R b _ ^ ] b W O W Z W c h S ^ a ^ d a b d b c M W ] M O W Z W c h b c a M c R U W R b M ] Q b c M ] Q M a Q b\ f V W P V M a R Q R e R Z ^ _ R Q O h c V R P ^ \ \ W c c R R b c V R h ^ e R a b R RY E d b c M W ] M O W Z W c h W b R \ O R Q Q R Q f W c V W ] b R e R a M Z P a ^ b by S d ] P c W ^ ] M Z \ M ] M U R \ R ] c P ^ \ \ W c c R R b\ V R Z _ W ] U R ] b d a R c V M c ^ d a U ^ M Z b M ] Q ^ O X R P c W e R b M a R W ] P ^ a _ ^ a M c R Q W ] c ^ c V R M _ _ a ^ _ a W M c R P ^ \ _ M ] h b c M ] Q M a Q b\ \ R c a W P b M ] Q b c a M c R U W R bY F V R b R M a R\ W ] c d a ]\ P M b P M Q R Q c V a ^ d U V ^ d c c V R P ^ \ _ M ] h M ] Q M Z W U ] R Q f W c V a R Z M c R Q _ a ^ P R Q d a R b M ] Q _ Z M ] b M c c V R ^ _ R a M c W ^ ] M Z Z R e R ZY 4 ^ Z Z M O ^ a M c W ^ ] M ] Q P ^ \ \ d ] W P M c W ^ ] M \ ^ ] U c V R 3 ^ M a Q\ W c b P ^ \ \ W c c R R b\ M ] Q c V R ? B 4 R g R P d c W e R Z R M Q R a b V W _ c R M \ R ] b d a R M Z W U ] R Q Q W a R P c W ^ ] ^ ] b d b c M W ] M O W Z W c hy a R Z M c R Q \ M c c R a bY • A d a 4 ^ a _ ^ a M c R 8 ^ e R a ] M ] P R B a W ] P W _ Z R b M a R M e M W Z M O Z R M c[ V c c _ b[§§ f f fY \ M a M c V ^ ] _ R c a ^ Z R d \Y P ^ \§ ; ] e R b c ^ a b§ 4 ^ a _ ^ a M c Ry 8 ^ e R a ] M ] P R A d a 4 ^ \ \ W c c R R P V M a c R a b M a R M e M W Z M O Z R M c [ V c c _ b[§§ f f fY \ M a M c V ^ ] _ R c a ^ Z R d \Y P ^ \§ 2 O ^ d c§ 3 ^ M a Qy ^ Sy 5 W a R P c ^ a b§ A O @ R C O E C I R D B T O R S @ r _ e q B l j j e q q ‘ ‘ B l j m ‘ k p [ q e l k [ k _ O o c [ k e x [ q e l k C ‘ s ‘ h l m j ‘ k q B l j j e q q ‘ ‘ B l o m l o [ q ‘ F l s ‘ o k [ k ^ ‘ [ k _ N l j e k [ q e k c B l j j e q q ‘ ‘ S r p q [ e k [ ] e h e q v [ k _ P r ] h P l h e ^ v B l j j e q q ‘ ‘ R D S P O N S I A I L I T I D S @ N C O V D R S I F H T¾ î O s ‘ o p ‘ ‘ p o e p g p [ p p l ^ e [ q ‘ _ t e q d a e k [ k ^ e [ h¿ a e k [ k ^ e [ h o ‘ m l o q e k c [ k _ [ ^ ^ l r k q e k c j [ q q ‘ o p î M l k e q l o p ^ l j m h e [ k ^ ‘ t e q d o ‘ c r h [ q l o v o ‘ n r e o ‘ j ‘ k q p [ k _ e k q ‘ o k [ h ^ l k q o l h p v p q ‘ j p î O s ‘ o p ‘ ‘ p l r o ‘ k q ‘ o m o e p ‘ o e p g j [ k [ c ‘ j ‘ k q m o l ^ ‘ p p [ k _ o ‘ s e ‘ t p m ‘ o a l o j [ k ^ ‘ î R ‘ s e ‘ t p p r p q [ e k [ ] e h e q v [ k _ ^ h e j [ q ‘ o e p g _ e p ^ h l p r o ‘ p t e q d e k q d ‘ a e k [ k ^ e [ h o ‘ m l o q e k c a o [ j ‘ t l o g î O s ‘ o p ‘ ‘ p ] r p e k ‘ p p ^ l k q e k r e q v¿ _ [ q [ m o e s [ ^ v [ k _ ^ v ] ‘ o p ‘ ^ r o e q v o e p g p î O s ‘ o p ‘ ‘ p o e p g [ p p l t e q d l r o ^ l j m ‘ k p [ q e m o l c o [ j p¿ m h [ k p [ k m l h e ^ e ‘ p q l d ‘ h m ‘ _ l k l q ‘ k ^ l r o [ c ‘ ‘ u ^ ‘ p p e s ‘ o e p gª q [ g e î O s ‘ o p ‘ ‘ p l r o j [ k [ c ‘ j p r ^ ^ ‘ p p e l k m h [ k k e k m o l ^ ‘ p p [ k _ l r o d r j ^ [ m e q [ h j [ k [ c ‘ j ‘ k q p q o [ q ‘ c e ‘ p [ k _ m l h î O s ‘ o p ‘ ‘ p p q [ g ‘ d l h _ ‘ k c [ c ‘ j ‘ k q l k ^ l j m ‘ k p [ q e l k [ k _ d r ^ [ m e q [ h j [ k [ c ‘ j ‘ k q j [ q q ‘ o p î O s ‘ o p ‘ ‘ p o e p g [ p p l t e q d ^ l o m l o [ q ‘ c l s ‘ j [ q q ‘ o p¿ e k ^ h r _ e k c e k _ ‘ m ‘ k _ ‘ k ^ ‘¿ A l [ o ^ l j m l p e q e l k [ k _ p r ^ ^ ‘ p p e l k¿ A l [ o _ h ‘ [ _ ‘ o p d e m p q o r ^ q r A l [ o _ ‘ a a ‘ ^ q e s ‘ k ‘ p p î O s ‘ o p ‘ ‘ p q d ‘ ‘ s [ h r [ q d ‘ A l [ o _¿ e q p ^ l j j [ k _ e k _ e s e _ r [ h _ e o î O s ‘ o p ‘ ‘ p p q [ g ‘ d l h _ ‘ k c [ c ‘ j ‘ k q l k ^ l o m l c l s ‘ o k [ k ^ ‘ j [ q q ‘ o p î O s ‘ o p ‘ ‘ p o e p g p [ k _ l m m l o q r k e q e ‘ p [ p p l ^ e [ q ‘ t e q d p r p q [ e k [ ] e h e q v¿ p [ a [ k _ m r ] h e ^ m l h e ^ v j [ q q ‘ î R ‘ s e ‘ t p l r o p r p q [ e k [ ] e h e [ k _ ^ h e j [ q ‘ o ‘ m l o q p [ k _ l q d ‘ o g ‘ v p r p q [ e k [ ] e h e q v _ e p ^ h l p r o ‘ p î O s ‘ o p ‘ ‘ p ‘ p q [ ] h e p d j ‘ k q l l r o p r p q [ e k [ ] e h e q v q [ o c ‘ î O s ‘ o p ‘ ‘ p c l s ‘ o k [ k ^ ‘ a o [ j ‘ t l o g [ k _ ] r _ c ‘ q p a l o l r o m l h e q e ^ [ h ^ l k q o e ] r q e [ k _ h l ] ] v e k c ‘ u m ‘ k _ e q r o î O s ‘ o p ‘ ‘ p p q [ g ‘ d l h _ ‘ o ‘ k c [ c ‘ j ‘ k q o ‘ h [ q ‘ _ q l p r p q [ e k [ ] e h e q v [ k _ m r ] h m l h e ^ v j [ q q ‘ o p M P B D X D B U T I V D L D @ C D R S H I P T D @ M S r p q [ e k [ ] e h e q v e p ‘ j ] ‘ _ _ ‘ _ [ ^ o l p p ‘ u ‘ ^ r q e s ‘ ^ l j j e q q ‘ ‘ p t e q d m o e j [ o v o ‘ p m l k p e ] e h e q v a l o p r p q [ e k [ ] e h e q v p q o [ q ‘ c e ‘ p [ k _ p q [ k _ [ o _ p î A r p e k ‘ p p I k q ‘ c o e q v B l j j e q q ‘ ‘ î D k q ‘ o m o e p ‘ R e p g M [ k [ c ‘ j ‘ k q B l j j e q q ‘ ‘ î D u q ‘ o k [ h P l h e ^ v B l j j e q q ‘ ‘ î H ‘ [ h q d¿ D k s e o l k j ‘ k q¿ S [ a ‘ q v¿ S ‘ ^ r o e q v M [ k [ c ‘ j ‘ k q B l j j e q q ‘ ‘ î S q o [ q ‘ c v S q ‘ ‘ o e k c B l j j e q q ‘ ‘ O R F @ N I Z @ T I O N @ L L D @ C D R S C o e s ‘ p r p q [ e k [ ] e h e q v p q o [ q ‘ c e ‘ p [ ^ o l p p q d ‘ ‘ k q ‘ o m o e p ‘ î @ _ s l ^ [ ^ v S q ‘ ‘ o e k c B l j j e q q ‘ ‘ î H ‘ [ h q d¿ D k s e o l k j ‘ k q¿ S [ a ‘ q v ¢ S ‘ ^ r o e q v î R ‘ k ‘ t [ ] h ‘ p B l r k ^ e h î R ‘ k ‘ t [ ] h ‘ p B l j m h e [ k ^ ‘ F l s ‘ o k [ k ^ ‘ B l j j e q q î S r p q [ e k [ ] e h e q v W l o g e k c F o l r m B R O S Sª E U N B T I O N @ L T D @ M S I j m h ‘ j ‘ k q g ‘ v p r p q [ e k [ ] e h e q v p q o [ q ‘ c e ‘ p¿ m o l c o [ j p [ k _ m h [ k p î D k q ‘ o m o e p ‘ R e p g M [ k [ c ‘ j ‘ k q B l j j r k e q v l a P o [ î D k s e o l k j ‘ k q [ h J r p q e ^ ‘ T ‘ [ j î E l ^ r p l k W [ q ‘ o T ‘ [ j î E l ^ r p l k D k ‘ o c v T ‘ [ j î I k q ‘ o k [ q e l k [ h D S F R ‘ m l o q e k c W l o g e k c F o l r m î O m ‘ o [ q e l k [ h D u ^ ‘ h h ‘ k ^ ‘ M [ k [ c ‘ j ‘ k q S v p q ‘ j « O B ‘ k q ‘ o l a D u ^ ‘ h h ‘ k ^ ‘ î R ‘ k ‘ t [ ] h ‘ p E ‘ ‘ _ p q l ^ g B l j m h e [ k ^ ‘ B l j j e q q ‘ ‘
Slide 7 — D W b Y ? M ] M U R \ R ] c
D W b Y ? M ] M U R \ R ] c ( 1 7 ( 5 3 5 , 6 ( 5 , 6 . 0 $ 1 $ * ( 0 ( 1 7 3 5 2 & I R M _ _ Z h M P ^ \ _ a R V R ] b W e R 6 ] c R a _ a W b H 6 D ?I _ a ^ U a M \ M P a ^ b b c V R P ^ \ _ M ] h c ^ \ M ] M U R R ] c R a _ a W b Ry Z R e R Z a W b Y b\ M R S S R P c W e R ] R b b ^ S a W b Y \ W c W U M c W ^ ] R b c M O Z W b V R Q M ] Q Q a W e R ] O h ^ d a R g Z R Q O h ^ d a R ] c R a _ a W b R a W b Y \ M ] M U R b d _ _ ^ a c R Q O h ^ S S W P R a b M ] Q b R ] W ^ a \ c V R O d b W ] R b b c ^ \ M ] M U R R ] c R a _ a W b R R \ R a U W ] U a W b Y bY F V R b R Z R M Q R a b \ R ^ ] U ^ W ] U d _ Q M c R b c ^ ^ d a 3 ^ M a Q M ] Q W c V a ^ d U V ^ d c c V R h R M aY A d a R ] c R a _ a W b _ a ^ P R b b c V a ^ d U V f ^ a Y b V ^ _ b W ] e ^ Z e W ] Z R M Q R a b V W _ c R M \ M ] Q b d O X R P c \ M c c e M a W ^ d b a W b Y b\ W ] P Z d Q W ] U P Z W \ M c R M ] Q \ R c a W P bY F V W b S a M \ R f ^ a Y S ^ b c R c V R 3 ^ M a Q\ W c b P ^ \ \ W c c R R b\ M ] Q ^ d a ( 5 0 & 2 0 0 8 1 , 7 < 2 ) 3 5 $ & 7 , & ( 2 ] 6 D ? 4 ^ \ \ d ] W c h ^ S B a M P c W P R b d _ _ ^ a c M ] Q M b b ^ P W M c R Q f ^ a Y b V ^ _ bY ; c P ^ \ _ a M b b d a M ] P R a R _ a R b R ] c M c W e R b S a ^ \ M P Q W b P d b b\ Q R e R Z ^ _ M ] Q b c M ] Q M a Q W j R \ W c W U M c W ^ ] \ R M b d a R b c V a ^ d U V ^ d c c V 2 d Q W c 4 ^ \ \ W c c R R S d a c V R a R e M Z d M c R b W ] c R a ] M Z _ a ^ P R b b R b c ^ R ] b d a R c V R R S _ a ^ P R b bY & / , 0 $ 7 ( 5 ( / $ 7 ( ’ 5 , 6 . 6 $ 1 ’ 2 3 3 2 5 7 8 1 , 7 , ( 6 4 ^ Z Z M O ^ a M c W ^ ] M ] Q P ^ \ \ d ] W P M c W ^ ] M R g R P d c W e R Z R M Q R a b V W _ c R M \ W b M P P ^ \ \ W c c R R \ R R c W ] U b M ] Q ^ c V R a R ] U M U I R P M a R S d a R e W R f\ R e M Z d M c R M ] Q \ M ] M U R b d b c M a R Z M c R Q a W b Y b M ] Q ^ _ _ ^ a c d ] W c W R b c M ] Q b c a R ] U c V R ] ^ d a a R b W Z W R ] P RY F V B ^ Z W P h 4 ^ \ \ W c c R R ^ e R a b R R b R ] e W a ^ ] \ \ M c c R a b\ a R e W R f b ^ d a b d b c M W ] M O W Z W f W c V ^ c V R a Y R h b d b c M W ] M O W Z W c h Q W R b c M O Z W b V \ R ] c ^ S ^ d a b d b c M W ] M O W Z & 2 0 3 / , $ 1 & ( 5 ( / $ 7 ( ’ 5 , 6 . 2 b _ M a c ^ S ^ d a 6 D ? _ a ^ P R b b\ ^ d a W b Y b a R Z M c R Q c ^ c V R a R U d Z M a W b Y b W ] P Z d Q R R \ R a U W ] U M ] Q a R Z M c R Q c ^ W b b d R b c V M c P ^ d Z b d P V M b 8 : 8 M ] Q ^ c V R a M W a R \ f M c R a f W c V Q a M f M Z b M ] Q R S S Z d R ] c b\ V \ M ] M U R \ R ] c\ _ a ^ Q d P c b _ R P W S W P V R M Z c V M ] Q b M S R c hY T d ‘ ‘ s l h r q e l k l a l r o ^ h e j [ q ‘ª o ‘ h [ q ‘ _ _ e p ^ h l p r o ‘ p [ k _ j ‘ q o e ^ p d ‘ h ‘ a a ‘ ^ q e s ‘ k ‘ p p l a l r o c l s ‘ o k [ k ^ ‘ m o l ^ ‘ p p a l o ^ h e j [ q ‘ª o ‘ h [ q ‘ _ j [ q q ª 6 g c R ] Q R Q M ] Q ; ] P a R M b R Q E P ^ _ R M ] Q 8 : 8 6 \ W b b W ^ ] b ; ] c R ] b W c h D R Q d P c W ^ ] F M a U R c 6 g c R ] Q R Q M ] Q ; ] P a R M b R Q ? B > J @ M c d a M Z 8 M b M ] Q @ 8 > E R a e W P R b ? R c V M ] R ; ] c R ] b W c h D R Q d P c W ^ ] F M a U R c 2 O b ^ Z d c R E P ^ _ R y 4 M c R U ^ a h 8 : 8 6 \ W b b W ^ ] b 5 W b P Z ^ b d a R • • • 7 a R b V f M c R a I W c V Q a M f M Z ; ] c R ] b W c h F M a U R c F V W a Qy B M a c h 8 : 8 6 \ W b b W ^ ] b H R a W S W P M c W ^ ] ? B > J @ M c d a M Z 8 M b M ] Q @ 8 > E R a e W P R b ? R c V M ] R ; ] c R ] b W c h D R Q d P c W ^ ] F M a U R c E P ^ _ R M ] Q 8 : 8 6 \ W b b W ^ ] b ; ] c R ] b W c h D R Q d P c W ^ ] F M a U R c F 4 7 5 5 W b P Z ^ b d a R • @ ] p l h r q ‘ S ^ l m ‘ ª B [ q ‘ c l o v F H F D j e p p e l k p R ‘ _ r ^ q e l k T [ o c ‘ q ‘ a a ‘ ^ q e s ‘ q l À m h ‘ [ p ‘ p ‘ ‘ P [ c ‘ p , ’ ( 1 7 , ) , & $ 7 , 2 1 $ 1 ’ ’ , 6 & / 2 6 2 ) 5 , 6 . 6 I R Q W b P Z ^ b R \ M c R a W M Z a W b Y b D W b Y 7 M P c ^ a b b R P c W ^ ] ^ S ^ d a 2 ] ] d M Z D R _ ^ a c ^ ] 7 ^ a \ y =\ M b f R Z Z M b W f W c V c V R GY EY E R P d a W c W R b M 4 ^ \ \ W b b W ^ ]Y F V R P M c R U ^ a W R b c V R b R a R _ ^ a c b W ] P Z d Q R O d b W ] a W b Y b\ S W ] M ] P W M Z a W b Y b\ Z R M ] Q U R ] R a M Z a W b Y S M P c ^ a bY
Slide 8 — E c a M c R U h M ] Q E P R ] M a W ^ B Z M ] ] W ] U
E c a M c R U h M ] Q E P R ] M a W ^ B Z M ] ] W ] U F V R R ] R a U h Z M ] Q b P M _ R W b P ^ ] c W ] d M Z Z h R e ^ Z e W ] U c ^ M Q Q a R b b c V R P ^ \ _ Z R g P V M Z Z R ] U R b ^ S R ] R a U h b R P d a W c h M ] Q P Z W \ M c R P V M ] U R \ W c W U M c W ^ ]Y I R P ^ ] Q d P c b P R ] M a W ^ _ Z M ] ] W ] U c ^ R e M Z d M c R V ^ f e M a W ^ d b S d c d a R R ] R a U h ^ d c P ^ \ R b P ^ d Z Q W \ _ M P c ^ d a P ^ \ _ M ] hY I R P ^ ] c W ] d M Z Z h M b b R b b c V R P Z W \ M c Ry a R Z M c R Q a W b Y b M ] Q ^ _ _ ^ a c d ] W c W R b M b b ^ P W M c R Q f W c V c V R b R b P R ] M a W ^ b c ^ d ] Q R a b c M ] Q f V R a R f R b V ^ d Z Q W ] e R b c P M _ W c M Z\ O ^ c V c ^ b c a R ] U c V R ] ^ d a R g W b c W ] U M b b R c b M ] Q c ^ _ d a b d R ] R f U a ^ f c V ^ _ _ ^ a c d ] W c W R bY A d a b P R ] M a W ^ _ Z M ] ] W ] U W ] P Z d Q R b c V R R e M Z d M c W ^ ] ^ S O ^ c V Z ^ ] Uy c R a \ M ] Q b V ^ a cy c R a \ b P R ] M a W ^ bY F V a ^ d U V ^ d c c V W b b R P c W ^ ]\ f R _ a ^ e W Q R Q R c M W Z R Q M ] M Z h b R b ^ S ^ d a O d b W ] R b b b c a M c R U W R b M U M W ] b c S d c d a R b P R ] M a W ^ b S a ^ \ c V R ; 6 2\ ; B 4 4\ M ] Q ^ c V R a b ^ d a P R b b d P V M b c V R GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] M ] Q : E 3 E ^ Z ^ \ ^ ] 2 b b ^ P W M c R b > > 4 H E ^ Z ^ \ ^ ]IYT F V R b R b P R ] M a W ^ b _ a ^ e W Q R ^ d a P ^ \ _ M ] h M a M ] U R ^ S _ ^ c R ] c W M Z ^ d c P ^ \ R b \ R ] M O Z W ] U d b c ^ _ Z M ] _ a ^ M P c W e R Z h M ] Q M Q M _ c M b c V R S d c d a R d ] S ^ Z Q bY ; c W b W \ _ ^ a c M ] c c ^ ] ^ c R c V M c b P R ] M a W ^ b M a R V h _ ^ c V R c W P M Z P ^ ] b c a d P c b M ] Q ] ^ c b R ] b W c W e W c h M ] M Z h b R bY ; ] c V W b h R M ah b a R _ ^ a c\ f R M _ _ Z h c V R S ^ Z Z ^ f W ] U V h _ ^ c V R c W P M Z b P R ] M a W ^ b[ ; 6 2 E c M c R Q B ^ Z W P W R b E P R ] M a W ^ H E F 6 B EI [ B a ^ e W Q R b M e W R f ^ S f V R a R c ^ Q M hm b _ ^ Z W P h M \ O W c W ^ ] b f ^ d Z Q c M Y R c V R R ] R a U h b R P c ^ aY ; c W ] P ^ a _ ^ a M c R b _ ^ Z W P W R b M ] Q \ R M b d a R b c V M c U ^ e R a ] \ R ] c b M a ^ d ] Q c V R f ^ a Z Q V M e R M Z a R M Q h W \ _ Z R \ R ] c R Q\ M b f R Z Z M b c V R R S S R P c b ^ S M ] ] ^ d ] P R Q _ ^ Z W P W R bY ; 6 2 2 ] ] ^ d ] P R Q B ^ Z W P W R b E P R ] M a W ^ H 2 B EI [ 2 b b d \ R b c V M c M Z Z Z ^ ] Uy c R a \ R \ W b b W ^ ] b M ] Q R ] R a U h M P P R b b c M a U R c b\ W ] P Z d Q W ] U ] R cy j R a ^ P ^ \ \ W c \ R ] c b\ f W Z Z O R \ R c ^ ] c W \ R M ] Q W ] S d Z Z\ R e R ] f V R a R _ ^ Z W P W R b M a R ] ^ c h R c W ] _ Z M P R c ^ Q R Z W e R a c V R \Y ; 6 2 @ R cy L R a ^ 6 \ W b b W ^ ] b O h H @ L 6I [ A d c Z W ] R b M _ M c V f M h S ^ a c V R U Z ^ O M Z R ] R a U h b R P c ^ a c ^ M P V W R e R ] R cy j R a ^ 8 : 8 R \ W b b W ^ ] b O h \ d _ Q M c W ] U c V R ; 6 2 M ] M Z h b W b S W a b c _ d O Z W b V R Q W ] Y I V W Z R c V R 2 B E W b R g _ Z ^ a M c ^ a h\ c V R @ L 6 E P R ] M a W ^ W b ] ^ a \ M c W e R\ M b W c W b Q R b W U ] R Q c ^ M P V W R e R M b _ R P W S W P ^ O X R P c W e R M ] Q W Z Z d b c a M c R M _ M c V f M h c ^ c V M c U ^ M ZY ; B 4 4 E P R ] M a W ^ b [ D R S R a b c ^ c V R e R c c R Q ; B 4 4 E P R ] M a W ^ b\ W Q R ] c W S W R Q O h c V R ; 6 2\ c V M c a R M P V ] R cy j R a ^ R ] R a U h b R P c ^ a R \ W b b W ^ ] b O h Y 3 R P M d b R c V R h a R M P V ] R cy j R a ^ O h \ c V R h M a R P ^ \ _ M a M O Z R W ] M \ O W c W ^ ] c ^ c V R ; 6 2 @ L 6 E P R ] M a W ^Y S ^ ‘ k [ o e l p [ o ‘ k l q a l o ‘ ^ [ p q p l o m o ‘ _ e ^ q R [ q d ‘ o¿ q d ‘ v e h h r p q o [ q ‘ g ‘ v ‘ h ‘ j ‘ k q p [ k _ d e c d h e c d q q d ‘ a [ ^ q l o p q d [ q ^ l r q o [ f ‘ ^ q l o v… T d ‘ e o m r o m l p ‘ e p q l m o ^ l j m [ k e ‘ p [ k _ l q d ‘ o p q [ g ‘ d l h _ ‘ o p t m l q ‘ k q e [ h l r q ^ l j ‘ p q l T : E 3 E ^ Z ^ \ ^ ] 2 b b ^ P W M c R b H E ^ Z ^ \ ^ ]I W b d ] W ‘ d R Z h ‘ d M Z W S W R Q c ^ _ R a S ^ a \ c V W b M ] M Z h b W b O R P M d b R W c V M b P ^ b c M ] Q _ a ^ Q d P c W ^ ] Q M c M S ^ a \ ^ a R c V M ] a R S W ] R a W R b f ^ a Z Q f W Q R c V a ^ d U V W c b O W R ] ] W M Z S d R Z b b c d Q W R b H V c c _ b[§§ f f fY b ^ Z ^ \ ^ ] W ] b W U V cY P ^ \§ W ] Q d b c a W R b§ a R S W ] W ] U§ O R ] P V \ M a Y W ] U§ S d R Z by b c d Q hIY F V R O W R ] ] W M Z E ^ Z ^ \ ^ ] 7 d R Z b E c d Q W R b M a R M Y R h a R b ^ d a P R f R d b R c ^ O R ] P V \ M a Y ^ d a ^ _ R a M c W ^ ] b M ] Q P ^ ] Q d P c b P R ] M a W ^ M ] M Z h b W bY P e ^ q r o ‘ _¾ M P L X× p P o ‘ [ g k ‘ p p k [ q r o [ h c [ p m o l ^ ‘ p p e k c m h [ k q e k q d ‘ P
Slide 9 — P l q ‘ k q e [ h R e p g p [ k _
P l q ‘ k q e [ h R e p g p [ k _ O m m l o q r k e q e ‘ p ? B 4 M ] Q ? B > J \ M h O R M S S R P c R Q O h P Z W \ M c Ry a R Z M c R Q a W b Y b a R Z M c R Q c ^ c V R c a M ] b W c W ^ ] c ^ M Z ^ f R ay P M P V M ] U RY F V R c a M ] b W c W ^ ] c ^ M Z ^ f R ay P M a O ^ ] R ] R a U h b h b c R \ \ M h M Z b ^ _ a R b R ] c P Z W \ M c Ry a R Z M c R Q ^ _ _ ^ a c d 3 R Z ^ f\ f R _ a R b R ] c R g M \ _ Z R b ^ S _ ^ c R ] c W M Z a W b Y b M ] Q ^ _ _ ^ a c d ] W c W R b c V M c \ M h W \ _ M P c ^ d a O d b W ] R b bY 7 ^ ? B > Jh b \ ^ b c a R P R ] c 7 ^ a \ y = S W Z W ] U bY T B E C ^ [ q ‘ c l o e ‘ p l a ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p T B E C ^ [ q ‘ c l o e ‘ p l a ^ h e j [ q ‘ª o ‘ h [ q ‘ _ l m m l o q r k e q e ‘ p P l q ‘ k q e [ h o e p g p P l h e ^ v [ k _ h ‘ c [ h o e p g p¾ > R U M Z\ c R P V ] ^ Z ^ U W P M Z\ _ ^ Z W c W P M Z M ] Q b P W R ] c W S W P Q R e R Z ^ _ \ R ] c b a R U M a Q W ] U R \ W b b W ^ ] b\ S d R Z R S S W P W R ] P h M ] Q M Z c R a ] M c W e R S d R Z e R V W P Z R b \ M h Q R P a R M b R Q R \ M ] Q S ^ a Z W ‘ d W Q c a M ] b _ ^ a c M c W ^ ] S d R Z bY 2 b W U ] W S W P M ] c Q R P a R M b R W ] ^ W Z M ] Q ] M c d a M Z U M b _ a ^ Q d P c W ^ ] W ] ? B > Jm b M a R M b ^ S ^ _ R a M c W ^ ] \ M h M Q e R a b R Z h M S S R P c ? B > Jm b O d b W ] R b b\ S W ] M ] P W M Z P ^ ] Q W c W ^ ]\ a R b d Z c b ^ S ^ _ R a M c W ^ ] b M ] Q P M b V M e M W Z M O Z R S ^ a Q W b c a W O d c W ^ ] c ^ W c b d ] W c V ^ Z Q R a b\ W ] P Z d Q W ] U ? B 4Y ? M ] h e M a W M O Z R b \ M h W \ _ M P c ^ W Z M ] Q U M b _ a ^ Q d P c W ^ ]\ W ] P Z d Q W ] U U ^ e R a ] \ R ] c M Z a R U d Z M c W ^ ] b M ] Q _ ^ Z W P W R bY 5 R ] W M Z b ^ S\ Q R Z M h b W ] a R P R W e W ] U ^ a a R e ^ P M c W ^ ] b ^ S a R ‘ d W b W c R a R U d Z M c ^ a h M _ _ a ^ e M Z b ^ a _ R a \ W c b P M ] b d O X R P c Z M a U R P M _ W c M Z _ a ^ X R P c b c ^ Q R Z M h bY ? M a Y R c P ^ ] Q W c W ^ ] b P ^ d Z Q Q R c R a W ^ a M c R b W U ] W S W P M ] c Z h O R c f R R ] c V R _ a ^ X R P c M _ _ a ^ e M Z Q M c R M ] Q c V R _ a ^ X R P c b c M a c d _ Q M c R\ ] R U M c W e R Z h W \ _ M P c W ] U _ a ^ X R P c a R c d a ] bY T o [ k p e q e l k o e p g p P d v p e ^ [ h o e p g p T ‘ ^ d k l h l c v o e p g p¾ F R P V ] ^ Z ^ U h O a R M Y c V a c ^ a R ] R f M O Z R S d R Z b ^ a ^ c V R a S d R V h Q a ^ U R ] ^ a M \ \ ^ ] W M\ ^ a R S S W P W W ] c R a ] M Z P ^ \ O d b c W ^ ] R ] U W ] R b P ^ S ^ a c a M Q W c W ^ ] M Z c a M ] b _ ^ a c M c W ^ M [ o g ‘ q o e p g p¾ 4 ^ ] b d \ R a M P P R _ c M ] P R M ] Q _ R ] R c a M c W ^ ] ^ S R Z R P c a W P\ V h O a W e R V W P Z R b \ M h Q R P a R M b R Q R \ M ] Q c a M ] b _ ^ a c M c W ^ ] S d R Z bY R ‘ m r q [ q e l k [ h o e p g p¾ ; ] P a R M b W ] U M c c R ] c W S ^ a M P c W ^ ] a R Z M c R Q c ^ P Z W \ M c R c a M ] b W c W ^ ] \ M c c R a b\ b d P V M b _ a ^ b d O b c W c d c R b c ^ S ^ b b W Z S d R Z _ a ^ Q Q W e R b c \ R ] c ^ S S ^ b b W Z S d R Z R ‘ d W \ M c R a W M Z M Q e R a b R R S S R P c ^ ] ^ d a @ ^ r q ‘ m d v p e ^ [ h o e p g p [ A d a M b b R c b M a R b d O X R P c c ^ M P b d P V M b S Z ^ ^ Q b\ V d a a W P M ] Ry S ^ a P R f W ] Q b\ f W \ ^ e R \ R ] c W ] e M a W M O Z R b c R R _ M ] Q a d U U R Q c R b d O b d a S M P R P ^ ] Q W c W ^ ] bY B d o l k e ^ m d v p e ^ [ h o e p g p¾ A d a M b b R c b M a R b d O X R P c c ^ P V a ^ ] W P _ V h b W P M Z a W b Y b b d P V M Z R e R Z a W b R ^ a f M c R a b V ^ a c M U R bY P l q ‘ k q e [ h l m m l o q r k e q e ‘ p R ‘ p l r o ^ ‘ ‘ a a e ^ e ‘ k ^ v¾ 6 ] R a U h R S S W P W R ] P h W b M P ^ a R c V M c a R Q d P R b ^ _ R a M c W 8 : 8 R \ W b b W ^ ] b\ R ] V M ] P c R a \ P ^ b c P ^ \ _ R c W c W e R 7 a R b V f M c R a f W c V Q a M f M a R Q d P c W ^ ] b W ] P a R M b R a R Q d P R Z ^ ] Uy c R a \ ^ _ R a D k ‘ o c v p l r o ^ ‘¾ F V R M e M W Z M _ a ^ P d a R \ R ] c ^ S Z ^ f R ay P a R ] R f M O Z R R ] R a U h c ^ _ ^ _ R a M c W ^ ] b P ^ d Z Q S d a c Z W S Ry P h P Z R P M a O ^ ] W M ] Q _ a ^ Q d P c b f R \ M ] d S M P o l _ r ^ q p [ k _ p ‘ o s e ^ ‘ p¿ j [ o g ‘ q p [ k _ o ‘ p e h e ‘ k ^ ‘ 4 ^ ] c W ] d R Q P ^ M Zy c ^y ] M c d a M Z U M b b f W c P V W ] U M ] Q _ a ^ Q d P c W ^ ] ^ S Q R \ M ] Q S ^ a ] M c d a M Z U M bY 4 ^ ] c W ] d R Q Q R \ M ] Q S ^ a a R ] R f M O Z R Q W R b R Z M b M Q a ^ _y W ] a R _ Z M P S d a c V R a Q W e R a b W S h ^ d a _ ^ a c S ^ Z W ^Y D R b R M a P V M ] Q Q R e R Z ^ _ \ R ] c W ] c V R a R ] R f M O Z R S d R Z b b _ M P R P ^ d Z \ M a Y R c b\ W ] P a R M b W ] U a R e R ] d R bY 5 ^ \ R b c W P _ a ^ Q d P c W ^ ]\ _ a ^ P R b b W ] U M ] Q R g _ ^ a c ^ S > @ 8 c ^ 6 d a ^ _ R M R ] R a U h b R P d a W c h W b b d R b \ M h b c R M Q W Z h W ] P a R M b R M b c V R b R a R U G ] W c R Q E c M c R bY ; ] P a R M b R Q Q R \ M ] Q S ^ a @ 8 > b M b _ R c a ^ P V R \ W P M Z S R R Q b c ^ P Y ^ a P Z Q R e R Z ^ _ W ] U f ^ a Z Q P ^ d Z Q b c a R ] U c V R ] Q R \ M ] Q S ^ a @ 8 > b _ a ^ P R b b R Q A d a ? B > J _ W _ R Z W ] R b M ] Q a W U V c b ^ S f M h M a R _ ^ c R ] c W M Z Z h _ ^ b W c P M a O ^ ] Q W ^ g W Q R M b c V ^ b R \ M a Y R c b Q R e R Z ^ _Y
Slide 10 — A r p e k ‘ p p P h [ k k e k c [ k _ B [ m e q [ h @ h h l ^ [ q e l k
A r p e k ‘ p p P h [ k k e k c [ k _ B [ m e q [ h @ h h l ^ [ q e l k 2 c ? B 4 M ] Q ? B > J\ ^ d a W ] e R b c \ R ] c b b c a R ] U c V R ] c V R P ^ \ _ R c W c W e R _ ^ b W c W ^ ] ^ S ^ d a M b b R c b M ] Q R ] V M ] P R ^ d a a R b W Z W R ] P R\ f W c V U a ^ f c V P M _ W c M Z M Z Z ^ P M c R Q O R c f R R ] c a M Q W c W ^ ] M Z M ] Q Z ^ f R ay P M a O ^ ] W ] e R b c \ R ] c b Y 2 b b V ^ f ] W ] c V R c M O Z R O R Z ^ f\ f R V M e R d ] Q R a U ^ ] R M b W U ] W S W P M ] c R e ^ Z d c W ^ ] b W ] P R O R P ^ \ W ] U M ] W ] Q R _ R ] Q R ] c P ^ \ _ M ] h W ] Y F ^ Q M h\ f R M a R S ^ P d b R Q ^ ] ^ _ c W \ W j W ] U ^ d a P ^ a R a R S W ] W ] U M ] Q Z ^ U W b c W P b _ ^ a c S ^ Z W ^ M ] Q R g _ M ] Q W ] U ^ d a ] M c d a M Z U M b M ] Q @ 8 > O d b W ] R b b\ f V W Z R Z ^ f R a W ] U c V R P M a O ^ ] W ] c R ] b W c h ^ S c V R _ a ^ Q d P c b f R \ M ] d S M P c d a RY F V a ^ d U V ^ d a b W U ] W S W P M ] c W ] e R b c \ R ] c b\ f R V M e R O R P ^ \ R M Y R h _ Z M h R a ] ^ c ^ ] Z h W ] c V R GY EY a R S W ] W ] U b R P c ^ a\ O d c M Z b ^ W ] c V R a R ] R f M O Z R S d R Z b M ] Q ] M c d a M Z U M b b R P c ^ a b H 7 W U d a R IY R D N D W @ A L D C I D S D L B @ P @ B I T Y « [‹ B R U C D O I L R D E I N I N F B @ P @ B I T Y « ]‹ N @ T U R @ L F @ S P R O B D S S I N F « ^‹ E e c r o ‘ … B [ m e q [ h S m ‘ k _ e k c O r q h l ? B 4m b P M _ W c M Z M Z Z ^ P M c W ^ ] W b P M c R U ^ a W j R Q W ] c ^ P M _ W c M ZY E d b c M W ] W ] U P M _ W c M Z d ] Q R a _ W ] b ^ d a P ^ \ P ^ \ _ Z W M ] c ^ _ R a M c W ^ ] b M ] Q a R _ a R b R ] c b M _ _ a ^ g W \ M c R D ^ S ? B 4m b M ] c W P W P M _ W c M Z b _ R ] QY F V R a R \ M W ] Q R a W b U a ^ f c V P M _ Q W b P W _ Z W ] R Q S M b V W ^ ] W ] M a R M b c V M c f R O R Z W R e R A S ? B 4m b M ] c W P W _ M c R Q U a ^ f c V P M _ W c M Z\ M _ _ a ^ g W \ M c R Z h D W b M Z Z ^ P M c R Q Z ^ f R ay P M a O ^ ] _ a ^ X R P c b\ b d P V M b W ] W c W M c W e R b c V M ^ d a a R S W ] R a W R b ^ a W ] e R b c \ R ] c b W ] a R ] R f M O Z R S d R Z b Y F V R a R \ M W ] W ] U U a ^ f c V W b M W \ R Q c ^ f M a Q _ a ^ X R P c b c V M c R ] V M ] P R \ M a U W ] b c b\ _ a W \ M a W Z h ^ d a P ^ \ _ Z R g\ P ^ \ _ R c W c W e R Z h M Q e M ] c M U R Q S M P W Z W c W R b\ V R Z _ W ] U c ^ _ ^ b W W ] c ^ c V R S d c d a RY 2 b W ] Q W P M c R Q ^ ] B M U R b y \ ^ d a c V R O d W Z Qy ^ d c ^ S ^ d a Z ^ f R a P M a O ^ ]y W ] c R ] b W e R e M Z S d a c V R a R ] V M ] P W ] U ^ d a R b W Z W R ] P h M ] Q _ ^ b W c W ^ ] W ] U ? B > J c ^ P ^ ] c W ] d R c ^ _ b h b c R \ ] ^ f M ] Q W ] c V R S d c d a R\ W ] P Z d Q W ] U d ] Q R a \ d Z c Y B @ T D F O R Y P ‘ q o l h ‘ r j a r ‘ h p § § N [ q r o [ h c [ p m o l ^ ‘ p p e k c § § N F L p¿ o ‘ k ‘ t [ ] h ‘ a r ‘ h p [ k _ l q d ‘ o p m ‘ ^ e [ h q v m o l _ r ^ q p § § M P B [ k _ M P L X P l o q a l h e l D s l h r q e l k « ] [ p ‘ _ l k ‘ k ‘ o c v ^ l k q ‘ k q l a m o l _ r ^ q p ‹ D N H @ N B I N F B O M P D T I T I V D N D S S A Y I M P R R D L I @ A I L I T Y @ N C D N D R F Y D E E I B I D N B Y W ‘ j [ _ ‘ [ j r h q e v ‘ [ o e k s ‘ p q j ‘ k q l a [ m m o l u e j [ q ‘ h v ð j e h h e l k [ q l r o L l p @ k c ‘ h ‘ p o ‘ a e k ‘ o v q l e k q ‘ c o [ q ‘ [ k _ j l _ ‘ o k e x ‘ r q e h e q v p v p q ‘ j p¿ e j m o l s ‘ o ‘ h e [ ] e h e q v [ k _ e k ^ o ‘ [ p ‘ ‘ k ‘ o c v ‘ a a e ^ e ‘ k ^ v¿ ^ l j m h e [ k ^ ‘ t e q d q e c d q ‘ o ‘ j e p p e l k o ‘ c r h [ q e l k p… î T d ‘ m o l f ‘ ^ q e p ‘ u m ‘ ^ q ‘ _ q l o ‘ _ r ^ ‘ S ^ l m ‘ F H F ‘ j e p [ m m o l u e j [ q ‘ h v ¿ q l k k ‘ p B O ‘ m ‘ o v ‘ [ o ¿ p r m m l o q e k c m o l c o ‘ q l t [ o _ p l r o S ^ l m ‘ [ k _ ‘ j e p p e l k p F H F e k q ‘ k p e q v c î T d e p e k e q e [ q e s ‘ e p [ h p l e k q ‘ k _ ‘ _ q l ‘ k p r o ‘ ^ l j m h e [ k X ‘ j e p p e l k p o ‘ _ r ^ q e l k o ‘ n r e o ‘ j ‘ k q p [ m m h e ^ [ ] h ‘ q l [ h h S l r q d ‘ o k B [ h e a l o k e [ o ‘ a e k ‘ o e ‘ p « S l r q d B l [ p q @ e o Q r [ h e q v M [ k [ c ‘ j ‘ k q C e î T [ o c ‘ q ^ l j m h ‘ q e l k¾ Y ‘ [ oª ‘ k _ H MI D R _ a R b R ] c b ? B 4h b b V M a R ^ S c V R a R ] R f M O Z R Q W R b R Z _ a ^ Q d P c W ^ ] P M _ M P W a R ] R f M O Z R S d R Z S M P W Z W c W R b M b _ d O Z W b V R Q W ] ? B 4m b 2 ] ] d M Z D R _ ^ a c ^ ] 7 ^ a \ y = a R Z M c W e R c ^ c V R GY EY a R M ] Q ^ c V R a O W ^ S d R Z b _ Z M ] c _ a ^ Q d P c W ^ ] P M _ M P W c h M b _ d O Z W b V R Q O h c V R H OI D R _ a R b R ] c b ? B 4h b P a d Q R ^ W Z a R S W ] W ] U P M _ M P W c h M b _ d O Z W b V R Q W ] ? B 4 P M _ M P W c h M b _ d O Z W b V R Q O h c V R A W Z ? 8 M b < ^ d a ] M Z H a R Z R M b R Q M c R[ ? M aY \ IY H PI D R _ a R b R ] c b ? B > Jh b ] M c d a M Z U M b _ a ^ P R b b W ] U e ^ Z d \ R b M b _ d O Z W b V R Q W ] ? B 4h b 2 ] ] d M Z D R _ ^ a c ^ ] 7 ^ a \ y = GY EY ] M c d a M Z U M b _ Z M ] c _ a ^ P R b b W ] U e ^ Z d \ R b _ d O Z W b V R Q O h c V R 6 ; 2 H a M P B M P B T O T @ L S P D N C I N F ª ð … A I L L I O N ƒ R ‘ a e k e k c ¢ M [ o g ‘ q e k c ª V [ h r ‘ D k d [ k ^ ƒ R ‘ a e k e k c ¢ M [ o g ‘ q e k c ª M [ e k q ‘ k [ k ^ ‘ ƒ B l o m l o [ q ‘ [ k _ O q d ‘ o « §‹ ƒ R ‘ k ‘ t [ ] h ‘ C e ‘ p ‘ h «# §‹ M P L X T O T @ L S P D N C I N F ª ð … A I L L I O N ƒ N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p « §‹ ƒ B o r _ ‘ O e h [ k _ P o l _ r ^ q p L l c e p q e ^ p « ƒ M [ e k q ‘ k [ k ^ ‘ « § ‹ M P L X M P L X § M P B § M P B § E e c r o ‘ … O r o P [ o q e ^ e m [ q e l k e k M r h q e m h ‘ U… S… D k ‘ o c v S ‘ c j ‘ k q p « ] [ p ‘ _ l k h [ q ‘ p q [ s [ e h [ ] h ‘ _ [ q [‹ N l q ‘¾ T l q [ h j [ v k l q p r j _ r ‘ q l e k _ ‘ m ‘ k _ ‘ k q o l
Slide 11 — B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p a l o R ‘ a e k e k c [ k _ M [ o g ‘ q e k c
B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p a l o R ‘ a e k e k c [ k _ M [ o g ‘ q e k c ? B 4 ^ _ R a M c R b ^ ] R ^ S c V R ] M c W ^ ]m b Z M a U R b c a R S W ] W ] U _ R a P M Z R ] Q M a Q M h ^ S P a d Q R ^ W Z a R S W ] W ] U P M _ M P W c h ^ S _ a ^ P R b b W ] U M f W Q R e M a W R c h ^ S P a d Q R ^ W Z b M ] Q ^ c a R S W ] R Q _ a ^ Q d P c b\ _ a W \ M a W Z h c a M ] b _ ^ a c M c W ^ ] S d R Z b\ _ R c a ^ P V R \ W P M Z b M ] Q M b _ V M Z cY F V R b R _ a ^ Q d P c b P ^ \ _ R c V R GY EY a R S W ] W ] U b h b c R \ W b P ^ b c M Q e M ] c M U R Q ^ e R a 7 Z R g W O W Z W c h ^ S c V R GY EY a R S W ] W ] U b h b c R \\ M b W ] 2 P P R b b W O W Z W c h M ] Q M O d ] Q M ] P R ^ S ] R M a O h P a d Q R ^ W 2 e M W Z M O W Z W c h ^ S Z ^ fy P ^ b c ] M c d a M Z U M b H 7 W U d a R I R O R Z W R e R ? B 4m b a R S W ] W ] U M b b R c b M a R S d a c V R a M Q e f R Z Z M b O h ^ d a Q ^ \ R b c W P M ] Q W ] c R a ] M c W ^ ] M Z P ^ \ \ R a P W _ ^ b W c W ^ ] d b c ^ a R \ M W ] P ^ \ _ R c W c W e R O ^ c V c ^ Q M h M ] Q 5 R b _ W c R ^ ] U ^ W ] U b V W S c b W ] c V R R ] R a U h Z M ] Q b P M _ R\ b h b c R \\ P d a a R ] c Z h M P P ^ d ] c W ] U S ^ a M _ _ a ^ g W \ M c R Z h D ^ S c V R U Z ^ O M Z R ] R a U R g _ R P c R Q c ^ a R \ M W ] M P a W c W P M Z b ^ d a P R\ b d _ _ ^ a c R Q O c a M ] b _ ^ a c M c W ^ ] S d R Z bY 2 Q Q W c W ^ ] M Z Z h\ ^ W Z Q R \ M ] Q P ^ ] c W ] d R b c b d P V M b M e W M c W ^ ]\ \ M a W c W \ R c a M ] b _ ^ a c\ M ] Q _ R c a ^ P V ; ] c V W b P ^ ] c R g c\ c V R a R S W ] R Q _ a ^ Q d P c b _ a ^ Q d P R Q M c ? ^ d a Z ^ U W b c W P b ] R c f ^ a Y _ Z M h M ] R b b R ] c W M Z a ^ Z R W ] c P a W c W P M Z S ^ a c V R S ^ a R b R R M O Z R S d c d a R\ R e R ] d ] Q R a \ Z R b b c V M ] p 4 P Z W \ M c R b P R ] M a W ^ bY F ^ R e M Z d M c R c V R a R b W Z W R ] P R M ] M Z h b R b S ^ a c V W b a R _ ^ a c c V M c b c a R b b c R b c ^ d a M b b R R ] R a U h b h b c R \ b c V M c Q W S S R a S a ^ \ c ^ Q M hm b P ^ ] Q W c W ^ ] N l kª U… S… U… S… W e q d q d ‘ [ s [ e h [ ] e h e q v l a h l tª ^ l p q k [ q r o [ h c [ p [ k _ l r o ^ l j m h ‘ u [ k _ c ‘ l c o [ m d e ^ [ h h v t ‘ h hª m l p e q e l k ‘ _ o ‘ a e k e k c p v p q ‘ j p¿ e k ^ h r _ e k c l m q e j [ h [ ^ ^ ‘ p p e ] e h e q v l a ^ o r _ ‘ l e h¿ t ‘ [ k q e ^ e m [ q ‘ q d ‘ U… S… o ‘ a e k e k c e k _ r p q o v t e h h o ‘ j [ e k p q o r ^ q r o [ h h v [ _ s [ k q [ c ‘ _ l s ‘ o q d ‘ o ‘ p q l a q d ‘ t l o h _… E e c r o ‘ … R ‘ a e k e k c N ‘ h p l k B l j m h ‘ u e q v I k _ ‘ u j e h h e l k ] [ o o ‘ h p m ‘ o _ [ v @ ^ q r [ h ^ d [ k c ‘¿ ª P o l f ‘ ^ q ‘ _ ^ d [ k c ‘¿ ª « S T ª W l o h _ N l o q d @ j ‘ o e ^ [ B ‘ k q o [ h [ k _ S l r q d @ j ‘ o……… D r o l m ‘ D r o l m ‘ [ k U k e l k @ a o e ^ [ M e _ _ h ‘ D [ p q D r o [ p e [ @ p e [ P [ ^ e a e ^ S l r q d ‘ [ p q @ p e [ E e c r o ‘ … O e h P o l _ r ^ q e l k¾ @ ^ q r [ h [ k _ P o l f ‘ ^ S ‘ h ‘ ^ q ‘ _ R ‘ c e l k p U S C j j ] q r U k e q ‘ _ S q [ q ‘ p D r o l m ‘ [ k U k e l k B d e k [ E e c r o ‘ … N [ q r o [ h F [ p P o e ^ ‘ p¾ @ ^ q r [ h [ k _ P o l f 5 M c M b ^ d a P R[ A W Z M ] Q 8 M b < ^ d a ] M Z\ I ^ a Z Q f W Q R D R S W ] R a h E d a e R h M ] Q 4 ^ \ _ Z R g W c h 2 ] M Z h b W b Y F V R M e R a M U R a R S W ] R a h P ^ \ _ Z R g W c h a M c W ] U b S ^ a GY EY a R S W ] R a W R b M ] Q ] ^ ]y GY EY a R S W ] R a W R b M a R O M b R Q ^ ] c V R @ R Z b ^ ] 4 ^ \ _ Z R g W c h ; ] Q R g\ f V W P V W b M \ R M b d a R ^ S M a R S W ] R a hm b P ^ ] e R a b W ^ ] R S S W P M P h ^ S P a d Q R ^ W Z c ^ V W U V R ay e M Z d R _ a ^ Q d P c bY 5 M c M b ^ d a P R[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y 5 M c M b ^ d a P R[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y ] O M b R Q ^ ] a R M Z c R a \ b G E 5\ Y
Slide 12 — ª §
E l o [ a l r o q d v ‘ [ o e k [ o l t¿ q d ‘ I D @ d [ p o ‘ s e p o ‘ _ r ^ q e l k p ] v e k q d ‘ e o [ k k r [ h W l o h _ D k ‘ N Z D S ^ ‘ k [ o e l… ¿ ª F V R b R M Q X d b c \ R ] c b M a R W ] Q W P M c W e R ^ S M b Z ^ f R a R ] R a U h R e ^ Z d c W ^ ]Y j e h h e l k ] [ o o ‘ h p m ‘ o _ [ v I P B B S ^ ‘ k [ o e l p I D @ N Z D I D @ @ P S S l h l j l k E e c r o ‘ … F h l ] [ h O e h S r m m h v r k _ ‘ o V [ o e l r p S ^ ‘ k [ o e l p O e h S r m m h v 7 5 $ 1 6 , 7 , 2 1 5 , 6 . 6 2 b W Z Z d b c a M c R Q W ] 7 W U d a R \ c V R a R W b ] ^ b W ] U Z R c R \ _ R a M c d a R W ] P a R M b R c ^ Z R b b c V M ] ˆ 4Y F V R ; 6 2 V e R c c R Q O h c V R ; B 4 4\ c V M c M P V W R e R c V R b M \ R ^ O X R @ L 6 E P R ] M a W ^ R \ _ V M b W j R b b W U ] W S W P M ] c a R Q d P c W _ M c V f M h b M Q ^ _ c O a ^ M Q R a M ] Q \ ^ a R W ] P Z d b W e R b c a M U ^ M ZY F ^ O R c c R a d ] Q R a b c M ] Q c V R W \ _ Z W P M c W ^ ] b S ^ a ^ d a b R g c R a ] M Z Z h \ ^ Q R Z R Q b P R ] M a W ^ b c V M c M Z W U ] f W c V B M a W b 2 U a R R \ R ] cY E _ R P W S W P M Z Z h\ f R R g M \ W ] R Q b \ ^ Q R Z R Q d ] Q R a c V R 2 B E @ L 6 E P R ] M a W ^\ M Z ^ ] U f W c V M Q Q W c W ^ ] M Z _ R R ay a 3 h \ c V R @ L 6 E P R ] M a W ^ W ] P Z d Q R b M D a R Q d P c W ^ ] c ^ Z R e R Z b\ f W c V ] ^ ]y R ] R a U h d b R b\ b d P V M b M b _ V S R R Q b c ^ P Y b\ a R \ M W ] W ] U a R Z M c W e R Z h b c M O Z R M ] Q Q R \ M ] Q M b c a M ] b _ ^ a c S d R Z d b R Q R P Z W ] R bY ; ] P ^ ] c a M D a R Q d P c W ^ ] W ] ^ W Z b d _ _ Z h O h \ f W c V D M Z Z ^ 4 ^ Z Z R P c W e R Z h\ c V R b R b P R ] M a W ^ b _ ^ W ] c c ^ M b W U ] W P ^ a a R b _ ^ ] Q W ] U a R Q d P c W ^ ] W ] U Z ^ O M Z a R S W ] W ] U P M D R S W ] R a W R b a R \ M W ] M e W c M Z P ^ \ _ ^ ] R ] c ^ S c V R ] R M a Z h D ^ S c V R ] M c W ^ ]m b c a M ] b _ ^ a c M c W ^ ] R ] : ^ f R e R a\ c b R P c ^ a S M P R b U a ^ f W ] U c a M ] b W c W ^ ] a W b Y b Q a W e a R U d Z M c ^ a h S a M \ R f ^ a Y b\ M ] Q P V M ] U W ] U P ^ ] b d \ R c W U V c R ] W ] U \ M a Y R c P ^ ] Q W c W ^ ] b\ a R S W ] R a W R b R ] R a U hy R S S W P W R ] c S d R Z _ a ^ Q d P c W ^ ] f V W Z R R ] V M ] Q P ^ b c R S S R P c W e R ] R b b c ^ a R \ M W ] P ^ \ _ R c W c W § § § § § § F [ p l h e k ‘ C e p q e h h [ q ‘ p J ‘ q E r ‘ h A e l a r ‘ h p N [ q r o [ h F [ p O q d ‘ o E e c r o ‘ … U… S… T o [ k p m l o q [ q e l k D k ‘ o c v S l E e c r o ‘ … I D @ N Z D O e h S r m m h v R ‘ _ r ^ q e W D O ª § W D O ª § W D O ª § W D O ª § N l q ‘¾ R ‘ _ r ^ q e l k p [ o ‘ o ‘ h [ q e s ‘ q l @ p q d ‘ c h l ] [ h ‘ k ‘ o c v h [ k _ p ^ [ m ‘ ‘ s l h s ‘ p¿ q d ‘ [ ] e h p d e a q e k c _ ‘ j [ k _ m [ q q ‘ o k p t e h h ] ‘ ^ o e q e ^ [ h a l o ‘ ‘ k ‘ o c v p ‘ ^ r o e q v… 5 M c M b ^ d a P R[ 6 ; 2\ ? M a P V ? ^ ] c V Z h 6 ] R a U h D R e W R fY 3 M b R Q ^ ] R ] R a U h P ^ ] c R ] cY 8 M b ^ Z M ] Q M e W M c W ^ ] U M b ^ Z W ] RY 3 W ^ S d R Z b W ] P Z d Q R R c V M ] ^ Z O W ^ Q W R b R a R b W Q d M Z S d R Z ^ W Z\ Z d O a W P M ] c b\ V h Q a ^ P M a O ^ ] U M b Z W ‘ d W Q b H _ a 5 M c M b ^ d a P R b[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y ] ; B 4 4 \ 2 D E P R ] M a W ^ 6 g _ Z ^ a R a M ] Q 5 M c M O M b R : ^ b c R Q O h ; ; 2 E 2 ] c ^ c R b c c V R a R b W Z W R ] P h ^ S ^ d a a R S W ] W ] U M b b R c b\ M Z R b b c V M ] ˆ 4 b P R ] M a W ^ f M b M b b R b b R Q d b W ] U c V R E ^ Z ^ \ ^ ] I A D > 5 \ ^ Q R Z H _ Z R M b R b R R B M U R S ^ a \ ^ a R W ] S ^ a \ M c W ^ ]IY
Slide 13 — E e c r o ‘
5 ( 6 , / , ( 1 & < 2 ) 8 6 5 ( ) , 1 ( 5 6 E e c r o ‘ … B l p q l a P o l _ r ^ e k c T o [ k p m l o q [ q e l k E r ‘ h p¿ « U S C ] ] h‹ ƒ R ‘ c e l k [ h [ s ‘ o [ c ‘ p ƒ M P B [ s ‘ o [ c ‘ ? B 4 a R c M W ] R Q E ^ Z ^ \ ^ ] c ^ R e M Z d M c R c V R a R b T 2 b W Z Z d b c a M c R Q W ] 7 W U d a R \ c V R GY EY a R Z ^ f R a ^ e R a M Z Z P ^ b c b c a d P c d a R a R Z M c W e R c ^ P ^ \ _ R c W c W e R M Q e M ] c M U R W b M c c a W O d c M O Z R ] M c d a M Z U M b M ] Q M ] R c f ^ a Y ^ S V W U V Z h P ^ \ _ _ ^ b W c W ^ ] R Q a R S W ] W ] U b h b c R \ b c ^ R ] b d a R ^ _ c ^ W Z b ^ d a P R bY T d ‘ U… S… o ‘ a e k e k c e k _ r p q o v o ‘ j [ e k p ^ l p q [ _ s [ k q [ c ‘ _ ^ l j m [ o ‘ _ q l q d ‘ o ‘ p q l a q d ‘ c h l ] [ h a h ‘ ‘ q… E r o q d ‘ o j l o ‘¿ q d ‘ [ s ‘ o [ c ‘ m o l _ r ^ q e l k ^ l p q p l a M P B× p o ‘ a e k ‘ o e ‘ p ^ l k q e k r ‘ q l ] ‘ ] ‘ h l t q d ‘ k [ q e l k [ h [ s ‘ o [ c ‘… A e R a c V R Z M b c b R e R a M Z h R M a b\ f R V M e R R ] V M ] P R Q c V R a R b ^ S ^ d a a R S W ] W ] U M b b R c b O h d ] Q R a c M Y W ] U M b R a W R b ^ S \ R M E c a R ] U c V R ] W ] U ^ d a _ ^ a c S ^ Z W ^ c V a ^ d U V M P c W ^ ] b b d P V M b P R M b W c V a R R Z R b by P ^ \ _ R c W c W e R a R S W ] R a W R b W ] M ] Q \ M ] S M P W Z W c W R b S ^ a a R ] R f M O Z R S d R Z _ a ^ Q d P c W ^ ]Y 6 g R P d c W ] U ^ d a b c a M c R U W P P ^ \ \ W c \ R ] c ^ S M P V W R e W ] U _ a ^ S W c M ^ _ R a M c W ^ ] c V a ^ d U V \ d Z c W _ Z R W ] W c W M c W e R b\ W ] P Z d Q W ] U c a M ] b W c W ^ ] W ] U c ^ e M Z d R P V M W ]y S ^ P d b R Q M P c W e W c W R b\ 2 b M a R b d Z c ^ S c V R b R M P c W ^ ] b\ f R R g _ R P c ^ d a a R S W ] W ] U b h M ] Q P ^ b c P ^ \ _ R c W c W e R ^ e R a c V R Z ^ ] U c R a \\ R e R ] W ] M P M a O @ _ _ e q e l k [ h I k p e c d q p a o l j q d ‘ W O R L C M l _ ‘ h F ^ O R c c R a d ] Q R a b c M ] Q c V W b ^ d c Z ^ ^ Y M ] Q M b b R b b V ^ f ^ d a b c S d c d a R \ M a Y R c b\ f R S d a c V R a R e M Z d M c R Q c V R P ^ \ _ R c W c W e R ] d b W ] U E ^ Z ^ \ ^ ]m b I ^ a Z Q A W Z D R S W ] W ] U > ^ U W b c W P b M ] Q 5 R \ M ] Q H I A D W ] f V W P V U Z ^ O M Z ^ W Z Q R \ M ] Q W ] W b M _ _ a ^ g W \ M c R Z h D Z ^ f R a _ R a Q M h c V M ] W ] Y F V R M ] M Z h b W b W ] P Z d Q R Q M Q R c M W Z R Q M b b R b b \ R ] c ^ S c V R GY E Q R e R Z ^ _ \ R ] c b W ] ^ c V R a U Z ^ O M Z a R U W ^ ] b\ f W c V M S ^ P d b ^ ] Q W b a d _ c W ^ ] b\ S d R Z a R U d Z M c W ^ ] b\ P a d Q R ^ W Z R g _ ^ a c _ ^ Z W P F V R a R b d Z c b W ] Q W P M c R c V M c c V R GY EY a R S W ] W ] U b R P c ^ a f P M a O ^ ]y P ^ ] b c a M W ] R Q S d c d a R\ f W c V \ W ] W \ M Z a M c W ^ ] M Z W j M f W c V W ] ? B 4m b a R S W ] W ] U _ ^ a c S ^ Z W ^Y M P B× S C I S B I P L I N D C @ P P R O @ B H T O D N H @ N B I N F B O M P D T I T I V D @ C V @ N T @ F D î S q o ‘ k c q d ‘ k e k c l r o ^ l j m ‘ q e q e s ‘ m l p e q e l k e k q d ‘ F r h a B l [ p q¿ [ _ s [ k q [ c ‘ _ o ‘ a e k e k c o ‘ c e l k… î I j m o l s e k c o ‘ h e [ ] e h e q v¿ ‘ k ‘ o c v ‘ a a e ^ e ‘ k ^ v¿ [ k _ ^ l p q ^ l j m ‘ q e q d ‘ j l p q m o l a e q [ ] h ‘ ^ l j m [ k v e k ‘ [ ^ d l a q d ‘ o ‘ c e l k p t d ‘ o ‘ t ‘ î @ _ s [ k ^ e k c m o l _ r ^ q v e ‘ h _ l m q e j e x [ q e l k q l ^ o ‘ [ q ‘ e k ^ o ‘ j ‘ k q [ h s [ h r ‘… L ‘ s ‘ o [ c e k c l r o e k q ‘ c o [ q ‘ _ s [ h r ‘ ^ d [ e k [ k _ c ‘ l c o [ m d e ^ [ h h vª _ D n r e s [ h ‘ k q C e p q e h h [ q e l k B [ m [ ^ e q v Q r [ o q e h ‘ P o l m o e ‘ q [ o v H S A S l h l j l k @ p p l ^ e [ q ‘ p L L B T d ‘ o ‘ p r h q p l a l r o [ k [ h v p ‘ p o ‘ e k a l o ^ ‘ l r o ^ l k a e _ ‘ k ^ ‘ e k q o ‘ p e h e ‘ k ^ ‘ l a l r o o ‘ a e k e k c m l o q a l h e l¿ ‘ s ‘ k [ j e _ [ k ‘ s l h s e T : E 3 E ^ Z ^ \ ^ ] 2 b b ^ P W M c R b H E ^ Z ^ \ ^ ]I W b d ] W ‘ d R Z h ‘ d M Z W S W R Q c ^ _ R a S ^ a \ c V W b M ] M Z h b W b O R P M d b R W c V M b P ^ b c M ] Q _ a ^ Q d P c W ^ ] Q M c M S ^ a \ ^ a R c V M ] a R S W ] R a W R b f ^ a Z Q f W Q R c V a ^ d U V W c b O W R ] ] W M Z S d R Z b b c d Q W R b H V c c _ b[§§ f f fY b ^ Z ^ \ ^ ] W ] b W U V cY P ^ \§ W ] Q d b c a W R b§ a R S W ] W ] U§ O R ] P V \ M a Y W ] U§ S d R Z by b c d Q hIY F V R O W R ] ] W M Z E ^ Z ^ \ ^ ] 7 d R Z b E c d Q W R b M a R M Y R h a R b ^ d a P R f R d b R c ^ O R ] P V \ M a Y ^ d a ^ _ R a M c W ^ ] b M ] Q P ^ ] Q d P c b P R ] M a W ^ M ] M Z h b W bY ? ^ a R ^ e R a\ ^ e R a c V R Z ^ ] U c R a \\ c V R GY EY a R S \ M W ] c M W ] M b c a d P c d a M Z M Q e M ] c M U R ^ e R a c V Q d R c ^ c V R b d b c M W ] R Q M e M W Z M O W Z W c h ^ S Z Q a W e R a ^ S ^ _ R a M c W ] U P ^ b c R S S W P W R ] P hY
Slide 14 — B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p a l o M e _ p q o ‘ [ j
B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p a l o M e _ p q o ‘ [ j ] e h h e l k ^ r ] e ^ j ‘ q ‘ o p @ ^ q r [ h ^ d [ k c ‘¿ ª P o l f ‘ ^ q ‘ _ ^ d [ k c ‘¿ ª ª ª D r o l m ‘ [ k U k e l k B d e k [ I k _ e [ S l r q d ‘ [ p q @ p e [ J [ m [ k ] e h h e l k ^ r ] e ^ a ‘ ‘ q m ‘ o _ [ v I P B B S ^ ‘ k [ o e l p I D @ N Z D I D @ @ P S @ M c d a M Z U M b W b W ] P a R M b W ] U Z h a R P ^ U ] W j R Q S ^ a W a R Z W M O Z R M ] Q M S S ^ a Q M O Z R b ^ d a P R ^ S R ] R a U h c V M c a M Q W c W ^ ] M Z P ^ M Zy S W a R Q R Z R P c a W P W c h U R ] R a M c W Q R M Z S ^ a \ R R c W ] U U a ^ f W ] U U Z ^ O M Z R ] R a U h ] R R Q ] M c W ^ ] b Q d a W ] U _ R a W ^ Q b ^ S \ M a Y R c e ^ Z M c W Z W c h M P M ] c a W U U R a R ] R a U h _ a W P R b _ W Y R b M ] Q M a R b d a U R ] M c d a M Z U M b b R a e R b M b M Q R _ R ] Q M O Z R\ Z ^ f R ay R \ W R ] R a U h b h b c R \ bY F V R b R M Q e M ] c M U R b\ M \ ^ ] U \ M ] h\ P b d b c M W ] R Q Q R \ M ] Q S ^ a ] M c d a M Z U M b\ Z W ‘ d R S W R Q 1 $ 7 8 5 $ / * $ 6 2 b W Z Z d b c a M c R Q W ] 7 W U d a R \ \ M ] h ] R cy j R a ^ b P R ] M a W ^ b W ] Q a R \ M W ] M e W c M Z P ^ \ _ ^ ] R ] c ^ S c V R U Z ^ O M Z R ] R a U h c V R Z ^ f R b c P M a O ^ ]y R \ W c c W ] U P ^ ] e R ] c W ^ ] M Z S d R Z\ a R Q d P W ] U U a R R ] V ^ d b R U M b R \ W b b W ^ ] b W ] c V R ] R M P a W c W P M Z a ^ Z R M b M S R R Q b c ^ P Y S ^ a O Z d R V h Q a ^ U b ^ d a P R R g _ R P c R Q c ^ O R R b b R ] c W M Z W ] Q R P M a O ^ ] W j V R M e h W ] Q d b c a h M ] Q Z ^ ] Uy V M d Z c a M ] b _ ^ a cY 2 b M b d O b c W c d c R S ^ a P ^ M Z\ ] M c d a M Z U M b a R \ M W ] b e W M O Z R ^ _ c W ^ ]\ _ a ^ Q d P W ] U a ^ d U V Z h V M Z S c V R P M a O ^ ] R \ W ^ d c _ d c Y ; c W b M O d ] Q M ] c\ V M b M P Z R M ] R a P ^ \ O d b c W ^ ] S d R Z b\ M ] Q _ a ^ e W Q R b R S S W P W R ] c\ ^ ]y Q R \ M ] Q V R M c O ^ c V b R M b ^ ] M Z M ] Q b V ^ a cy c R a \ S Z d P c d M c W ^ ] b W ] R c ^ b d _ _ Z h O ^ c V O M b R Z ^ M Q M ] Q _ R M Y _ ^ f R a\ R ] b d a W c V R W ] c R U a M c W ^ ] ^ S e M a W M O Z R a R ] R f M O Z R R ] R a U h > ^ ^ Y W ] U M V R M Q\ U Z ^ O M Z Q R \ M ] Q S ^ a ] M c d a M Z U M O R h ^ ] Q \ _ M a c W P d Z M a Z h W ] E ^ d c V f R b c 2 b W M M ] Q Q R e R Z ^ _ W ] U R P ^ ] ^ \ W R b H 7 W U d a R IY F ^ \ R R c c V W b U a ^ f W ] U ] R R Q\ b d _ _ Z h f W Z Z P ^ \ R S a ^ \ c V R G ] W c R Q E c M c R b\ f V W P V P M _ M O W Z W c W R bY @ ^ c M O Z h\ U Z ^ O M Z > @ 8 R g _ ^ a c P M _ M P W c h W b M ] c W P W _ M c R Q c ^ W ] R M a Z h D\ Q a W e R ] _ a W \ M a W Z h O h \ M X ^ a R g _ M ] b W ^ Y F V R ] M c d a M Z U M b \ M a Y R c W b d ] Q R a U ^ W ] U M b W U ] W a R Z W M ] c ^ ] _ W _ R Z W ] R W ] S a M b c a d P c d a R\ W c W b b V W Q W b a d _ c W ^ ] b P M d b R Q O h D d b b W Mm b W ] e M b W ^ ] ^ S G M P P R Z R a M c R Q W ] e R b c \ R ] c b W ] > @ 8 c R a \ W ] M Z b\ M \ ^ S Z R g W O W Z W c h M ] Q R ] M O Z R ] M c d a M Z U M b c ^ O R c a M F V R b R Q R e R Z ^ _ \ R ] c b V W U V Z W U V c c V R W \ _ ^ a c M ] P R W ] e R b c W ] U W ] > @ 8 W ] S a M b c a d P c d a R\ M ] Q M Z W U ] W ] Q h ] M \ W P M ] Q U Z ^ O M Z Z h P ^ ] ] R P c R Q U M b \ M a Y R cY E e c r o ‘ … F h l ] [ h N [ q r o [ h F [ p S r m m h v r k _ ‘ o V [ N [ q r o [ h F [ p S r m m h E e c r o ‘ … L N F C ‘ j [ k _¾ @ ^ q r [ h [ k _ P o l f ‘ ^ q ‘ _ S ‘ h ‘ ^ q ‘ _ R ‘ c e l k p 5 M c M b ^ d a P R[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y 5 M c M b ^ d a P R b[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y ] ; B 4 4 \ 2 D E P R ] M a W ^ 6 g _ Z ^ a R a M ] Q 5 M c M O M b R
Slide 15 — E e c r o ‘
T d ‘ R l h ‘ l a N [ q r o [ h F [ p e k q d ‘ U… S… D k ‘ o c v S v ; ] c V R G ] W c R Q E c M c R b\ c V R c a M ] b W c W ^ ] S a ^ \ P ^ M Z Z M a U R b c Q a W e R a ^ S a R Q d P c W ^ ] b W ] 4 Aç R R \ W b b W ^ M O W Z Z W ^ ] c ^ ] ] R b M ] ] d M Z Z h P ^ \ _ M a R Q c ^ Z R e R 2 b W U ] W S W P M ] c _ ^ a c W ^ ] ^ S c V W b a R Q d P c W ^ ] W b M ] M c d a M Z U M b\ M ] Q\ c ^ M Z R b b R a R g c R ] c\ P ^ ] c a W O d M b f W ] Q M ] Q b ^ Z M aY F V R b R a R Q d P c W ^ ] b f R a R R ] M O Z R Q O h M b W U ] W S W P b d _ _ ^ a c R Q O h b d O b c M ] c W M Z _ a W e M c R W ] e R b c \ R ] c M P V M W ]\ W ] P Z d Q W ] U _ a ^ Q d P c W ^ ]\ U M c V R a W ] U M ] Q M ] Q b c ^ a M U RY F V W b b c a M c R U W P c a M ] b W c W ^ ] V M b R Z R P c a W P W c h _ a W P R b M S S ^ a Q M O Z R\ M ] Q R ] M O Z R Q R ] R a U h b ^ d a P R b f W c V ^ d c P ^ \ _ a ^ \ W b W ] U b d _ _ Z h a R Z 1 $ 7 8 5 $ / * $ 6 / , 4 8 , ’ 6 1 * / 6 @ 8 > b M a R _ a W \ M a W Z h _ a ^ Q d P R Q Q d a W ] U c V R _ a ^ P R W ] P Z d Q W ] U R c V M ] R\ _ a ^ _ M ] R\ O d c M ] R\ M ] Q ^ c V R a R b b R ] c W M Z S R R Q b c ^ P Y b S ^ a c V R _ R c a ^ P V R \ W P M Z W _ a R b b W ] U ] R R Q S ^ a P Z R M ] R a P ^ ^ Y W ] U S d R Z b W ] Q R O W ^ \ M b b M ] Q P ^ M Z M a R b c W Z Z f W Q R Z h d b R QY @ 8 > P M ] ^ S S R a M P Z R M ] R ay O d a ] W ] U M Z c R a ] M c W e R\ b d _ R ] e W a ^ ] \ R ] c M Z U ^ M Z bY 3 R P M d b R ] M c d a M Z U M b _ a ^ P R b b W ] U W b M \ M X ^ a b ^ ^ S @ 8 > b W b P Z ^ b R Z h c W R Q c ^ c V R M ] c W P W _ M c R Q U c V R W ] P a R M b W ] U Q R \ M ] Q S ^ a _ R c a ^ P V R \ W P M Z S R R c R a \ S ^ a R P M b c\ U Z ^ O M Z @ 8 > Q R \ M ] Q W b _ a ^ X R P c R D O R c f R R ] \ M ] d _ f M a Q a R e W b W ^ ] S a ^ \ R M a Z W R a R b c W \ M c R A d c Z ^ ^ Y H 7 W U d a R IY y 0 , ’ 6 7 5 ( $ 0 ( 1 ( 5 * < , 1 ) 5 $ 6 7 5 8 & 7 8 5 ( $ 1 ’ ( ; 3 2 5 2 b c V R f ^ a Z Q f ^ a Y b c ^ O M Z M ] P R P M a O ^ ]y a R Q d P c W ^ M ] Q b R P d a W c h P ^ ] P R a ] b\ c V R \ W Q b c a R M \ b R P c ^ a W b \ ^ a R M Q M _ c M O Z R M ] Q R S S W P W R ] c R ] R a U h b h b c R \Y P ^ ] b d \ _ c W ^ ]\ W c R ] b d a R b c V M c R ] R a U h a R b ^ d a P R b M c V R h M a R ] R R Q R Q \ ^ b cY ; ] c V R G ] W c R Q E c M c R b\ c V U M b _ a ^ Q d P c W ^ ] a R \ M W ] b b c a ^ ] UY : ^ f R e R a\ c ^ S d Z Z U a ^ f c V\ W ] S a M b c a d P c d a R Q R e R Z ^ _ \ R ] c \ d b c M Z W U ] Q ^ \ R b c W P ^ d c _ d c P M ] O R b R M \ Z R b b Z h Q R Z W e R a R Q M O a ^ M QY E e c r o ‘ … R ‘ c e l k [ h B O ‘ D j e p p e l k p a o l j T l q [ h D k ‘ o j e h h e l k ] [ o o ‘ h p m ‘ o _ [ v @ ^ q r [ h p [ k _ p d l o qª q ‘ o j a l o ‘ ^ [ p q @ D O @ D O E e c r o ‘ … N [ q r o [ h F [ p P h [ k q L e n r e _ p P o l _ c e c [ q l k k ‘ p m ‘ o v ‘ [ o § § ª § ª § ª § B d e k [ Ø I k _ e [ Ø D r o l m ‘ [ k U k e l k Ø U k e q ‘ _ S q [ q ‘ p Ø J [ m [ k 5 M c M b ^ d a P R[ ; 6 2\ 8 a R R ] V ^ d b R 8 M b 6 \ W b b W ^ ] b S a ^ \ 6 ] R a U h\ y : W U V Z W U V c b 5 M c M b ^ d a P R b[ 6 ; 2\ E V ^ a cy F R a \ 6 ] R a U h A d c Z ^ ^ Y ] ? M h ] 6 ; 2\ 2 ] ] d M Z 6 ] R a U h A d c Z ^ ^ Y ] 6 ; 2\ 2 ] ] d M Z 6 ] R a U h A d c Z ^ ^ Y
Slide 16 — @ E r h h v I k q ‘ c o [ q ‘ _ N F L
0 3 / ; F V a ^ d U V b W U ] W S W P M ] c W ] e R b c \ R ] c b\ ? B 4m b \ M b c R a Z W \ W c R Q c V R Z M a U R b c ] M c d a M Z U M b _ a ^ P R b b W ] U P ^ \ _ M ] W R b W ] c V R G 3 R c f R R ] M ] Q \ f R W ^ e R a O W Z Z W ^ ] c V a ^ d U V ? B > J c ^ M P ‘ d W a R M ] Q R g _ M ] Q ] M c d a M Z U M b U P M _ M P W c h Y F ^ Q M h\ ? B > J ^ _ R a M c R b M ] W ] c R U a M c R Q ] R c f ^ a Y ^ S _ W M ] Q S a M P c W ^ ] M c W ^ ] S M P W Z W c W R b\ c R a \ W ] M Z b\ M ] Q c a M ] b _ ^ a \ ^ \ R ] c d \\ ? B > J V M b M ] ] ^ d ] P R Q M O W Z Z W ^ ] b _ R ] Q W ] U ^ d c Z ^ ^ Y S ^ a Y F V W b _ Z M ] W b S ^ P d b R Q S d a c V R a R ] V M ] P W ] U M b b R c d c W Z W j M c W ^ ]\ W \ _ a ^ e W ] U ^ _ R a M c O R c f R R ] ^ d a \ W Q b c a R M \ M ] Q a R S W ] W ] U ^ _ R a M c W ^ ] bY F ^ U R c V R S d c d a R R ] R a U h ] R R Q b f V W Z R Q R Z W e R a W ] U Z ^ ] Uy c R a \ e M Z d R M Z M ] Q b P M _ RY M P L X× p P [ o q e ^ e m [ q e l k e k U… S… F H F D j e p p e l k p R ‘ _ r ^ q e l k ? B > Jm b W ] S a M b c a d P c d a R O d W Z Qy ^ d c M Z W U ] b f W c V c V R O a ^ M Q U R ] R a M c W ^ ]\ M b W Z Z d b c a M c R Q W ] 7 W U d a R Y @ ^ c M O Z h\ Q d a W Q R P Z W ] R Q b W U ] W S W P M ] c Z h\ R e R ] M b ^ e R a M Z Z R Z R P c a W P W c h ^ S ] M c d a M Z U M b W ] b d _ _ ^ a c W ] U Z ^ f R ay P M a O ^ ] R ] R a U h b ^ Z d c W j e h h e l k M W d B l [ h N [ q r o [ h F [ p S l h [ o ¢ W e k _ O q d ‘ o « ¿ ‹ « ¿ ‹ « ‹ Ø ¿ E e c r o ‘ … B d [ k c ‘ e k D h ‘ ^ q o e ^ e q v F ‘ k ‘ o [ q e l k¿ ª C ‘ ^ o ‘ [ p ‘ I k ^ o ‘ [ p ‘ M P L X× p I j m [ ^ q e k • ; ] \ ? B > J _ a ^ P R b b R Q M _ _ a ^ g W \ M c R Z h O W Z Z W ^ ] P d O W P S R ] R a U h c ^ U R ] R a M c R M ] R b c W \ M c R Q O W Z Z W ^ ] Y W Z ^ f M c cy V ^ d a b ^ S R Z R P F V W b W b c V R R ‘ d W e M Z R ] c ^ S _ ^ f R a W ] U \ ^ a R c V M ] \ W Z Z W F V W b e ^ Z d \ R ^ S ] M c d a M Z U M b P ^ d Z Q M e ^ W Q d _ c ^ \ W Z Z GY EY R ] R a U h b d _ _ Z h P V M W ] O h Q W b _ Z M P W ] U P ^ M Zy S W a R Q c ^ b d _ _ ^ a c M Z ^ f R ay P M a O ^ ] R ] R a U h b h b c R \Y W D L L H D @ C T O W @ T D R¾ @ E r h h v I k q ‘ c o [ q ‘ _ N F L S v p q ‘ j B l k k ‘ ^ q e k c P ‘ o j e S r m m h v F o l t q d q l D u m l o C ‘ j [ k _ I k ‘ [ o h v ¿ M P B [ k k l r k ^ ‘ _ [ ð … ] e h h e l k¿ j r h q e v ‘ [ o e k e q e [ q e s ‘ q l _ ‘ s ‘ h l m [ k N F L a o [ ^ q e l k [ q e l k [ k _ ‘ u m l o q a [ ^ e h e q v k ‘ [ o F [ h s ‘ p q l k A [ v¿ T ‘ u T d e p m o l f ‘ ^ q t e h h ‘ p q [ ] h e p d [ g ‘ v l r q h ‘ q a l o m o l _ r ^ ‘ _ e k q d ‘ P ‘ o j e [ k A [ p e k [ k _ l q d ‘ o ^ l o t d ‘ o ‘ M P L X l m ‘ o [ q ‘ p… N F L p t e h h ] ‘ q o [ k p m m e m ‘ h e k ‘ q l [ ^ ‘ k q o [ h e x ‘ _ a o [ ^ q e l k [ q e l k a [ ^ F [ h s ‘ p q l k A [ v o ‘ a e k ‘ o v… E e k e p d ‘ _ h e n r e _ m ‘ q o l h ‘ r j c « L P F‹ m o l _ r ^ q p t e h h ] ‘ _ e p q o e ] r q ‘ _ q d o l r c d m e m ‘ k ‘ q t l o g p [ k _ a o l j [ k L P F q ‘ o j e k [ h [ q q d ‘ P l o T ‘ u [ p B e q v¿ d ‘ h m e k c q l j ‘ ‘ q c o l t e k c c h l ] [ h L _ ‘ j [ k _… P R O J D B T H I F H L I F H T S ¾ î B l k p q o r ^ q e l k l a q t l k ‘ t F r h a B l [ p q a o [ ^ q e l k t e q d [ ^ l j ] e k ‘ _ ^ [ m [ ^ e q v l a ¿ ] m _ î C ‘ s ‘ h l m j ‘ k q l a [ ¿ ] m _ L P F ‘ u m l o q q ‘ o q d o l r c d f l e k q s ‘ k q r o ‘ p t e q d O N D O K¿ a ‘ [ q r ¾ æ R ‘ a o e c ‘ o [ q e l k [ k _ p q l o [ c ‘ q [ k g p æ T t l j [ o e k ‘ ] ‘ o q d p t e q d h l [ _ e k c a [ ^ e h e q æ C ‘ _ e ^ [ q ‘ _ m e m ‘ h e k ‘ ^ l k k ‘ ^ q e l k p q l q d T d e p e k q ‘ c o [ q ‘ _ p q o [ q ‘ c v m o l s e _ ‘ p ‘ k _ª q lª ‘ k l s ‘ o c [ q d ‘ o e k c¿ m o l ^ ‘ p p e k c¿ q o [ k p m l o q [ q e l k l m ‘ o [ q e l k p¿ p q o ‘ k c q d ‘ k e k c l r o ^ l j m ‘ q e q e s ‘ m [ ^ o l p p q d ‘ a r h h s [ h r ‘ ^ d [ e k… I k q r o k¿ e q ‘ k _ ‘ h e s ‘ o v l a h l t ‘ oª ^ [ o ] l k ‘ k ‘ o c v p l r o ^ ‘ p q l o ‘ [ o l r k _ q d ‘ t l o h _ t d ‘ o ‘ q d ‘ v [ o ‘ k ‘ ‘ _ ‘ _… T F V W b R b c W \ M c R M b b d \ R b ] M c d a M Z U M b Q W b _ Z M P R b P ^ M Zy S W a R Q U R ] R a M c W ^ ] ^ ] M ] R ] R a U hy R ‘ d W e M Z R ] c O M b W bY F V R _ ^ c R ] c W M Z R \ W b b W ^ ] b a R Q d P c W ^ ] W b R b c W \ M c R Q O M b R Q ^ ] M e R a M U R 4 Aç R R \ W b b W ^ ] b _ R a Y W Z ^ f M c cy V ^ d a S ^ a P ^ M Z M ] Q ] M c d a M Z U M b\ d b W ] U _ d O Z W P Z h M e M W Z M O Z R R \ W b b W ^ ] b S M P c ^ a b S a ^ \ b ^ d a P R b b d P V M b c V R GY EY 6 B 2 ; ] e R ] c ^ a h ^ S GY EY 8 : 8 6 \ W b b W ^ ] b M ] Q E W ] Y b y M ] Q Q M c M S a ^ \ c V R 6 ; 2Y 5 M c M b ^ d a P R[ 6 ; 2\ ? ^ ] c V Z h 6 ] R a U h D R e W R f y ? M a P V
Slide 17 — B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p l a R ‘ k ‘ t [ ] h ‘ E r ‘ h p
B h e j [ q ‘ S ^ ‘ k [ o e l @ k [ h v p e p l a R ‘ k ‘ t [ ] h ‘ E r ‘ h p ‘ u [ f l r h ‘ p m ‘ o v ‘ [ o I P B B S ^ ‘ k [ o e l p I D @ N Z D I D @ @ P S D R ] R f M O Z R Z W ‘ d W Q S d R Z b M a R Q R a W e R Q S a ^ \ ] ^ ]y \ W ] R a M Z a R b ^ d a P R b\ b d P O W ^ \ M b b M ] Q ^ a U M ] W P f M b c R \ M c R a W M Z b M ] Q W O W ^ Q W R b R Z\ a R ] R f M O Z R Q W R b R Z M ] Q b d b c M W ] c V R b R S d R Z b M a R b ^ d a P R Q S a ^ \ O W ^ \ M b b \ M c R a W c V R 4 A a R Z R M b R Q Q d a W ] U P ^ \ O d b c W ^ ] W b _ M a c ^ S ^ S S b R c O h c V R 4 A a R P R ] c Z h a R \ ^ e R Q S a ^ \ c V R M c \ ^ b _ V R O d a ] W ] U c V R b R a R ] R f M O Z R S d R Z b Q ^ R b ] ^ c W ] P a Z R e R Z bY 2 Y R h P ^ ] b W Q R a M c W ^ ] W b c V M c \ ^ b c a R ] R f M O Z R j R a ^\ M b c V R W a _ a ^ Q d P c W ^ ] _ a ^ P R b b U R ] R a M c R b P M a O ^ ] R \ W b b W ^ ] bY c V R b R _ a ^ P R b b R b M a R O R P ^ \ W ] U \ ^ a R R S S W P W R E R e R a M Z a R ] R f M O Z S d R Z b\ b d P V M b a R ] R f M O Z R Q W R b R Z\ P M ] Q R Z W R \ O R Q Q R Q Z W S Ry P h P Z R U a R R ] V ^ d b R U M b R b f V R S d R Z b Y 6 M P V S d R Z U R ] R a M Z Z h V M b M d ] W ‘ d R P M a O ^ ] W R ] c W a R Z W S R P h P Z RY F V W b W ] P Z d Q R b R \ W b b W ^ S R R Q b c ^ P Y \ M c R a W M Z b\ c a M ] b _ ^ a c M c W ^ ]\ P ^ ] e R 4 M a O ^ ] a R Q d P c W ^ ] b M c M ] h _ ^ W ] c M Z ^ ] U c V R e M S M a \ W ] U _ a M P c W P R b\ \ ^ a R R S S W P W R ] c a R S W ] W ] R ] R a U h\ P M ] a R b d Z c W ] M Z ^ f R a 4 ; e M Z d RY E ^ \ R a R ] R f M O Z R S d R Z b\ ] M c d a M Z U M b P ^ Z Z R P c R Q S a ^ \ Q M W a h S M a \ b\ P M Y \ D R ] R f M O Z R S d R Z b M a R M ] W \ _ ^ a c M ] c P ^ \ _ ^ ] R ] c W ] c V R R S S ^ a c c ^ c V R c a M ] b _ ^ a c M c W ^ ] b R P c ^ aY F V R h M a R P ^ \ _ M c W W ] S a M b c a d P c d a R\ R ] M O Z W ] U W \ \ R Q W M c R a R Q d P c f W Q R b _ a R M Q c R P V ] ^ Z ^ U W P M Z ^ e R a V M d Z bY > W ‘ d W \ _ ^ a c M ] c S ^ a V M a Qy c ^y M O M c R b R P c ^ a b b d P V M M ] Q M e W M c W ^ ]\ f V W P V P d a a R ] c Z h V M e R Z W \ W c R D R ] R f M O Z R Z W ‘ d W Q S d R Z b M a R M \ ^ ] U c V R S R f e a R Q d P W ] U R \ W b b W ^ ] b W ] c V R b R b R P c ^ a bY 8 Z ^ O M Z O W ^ S d R Z b Q R \ M ] a R P ^ a Q V W U V W ] M ] Q W b \ ^ Q R Z R Q O h c V R ; 6 2 c ^ P ^ ] c W ] d R W c a M X R P c ^ a h W ] c V R h R M a b M V R M Q H 7 W U d a R IY I D @ N Z D¾ C ‘ j [ k _ a l o h e n r e _ ] e l a r ‘ h p j l o ‘ q d ¿ o ‘ n r e o e k c [ c o l t q d l a j l o ‘ q d [ k § ‘ [ ^ d v F V R @ L 6 b P R ] M a W ^ W ] P Z d Q R b M b W U ] W S W P M ] c \ R R c U Z ^ O M Z P Z W \ M c R U ^ M Z bY F V W b f ^ d Z Q W ] e M Q e M ] P R Q S R R Q b c ^ P Y b M ] Q b P M Z W ] U d _ O W ^ S d S ^ a a R Q d P W ] U P M a O ^ ] R \ W b b W ^ ] b $ ’ 2 3 7 , 2 1 & + $ / / ( 1 * ( 6 5 R b _ W c R c V R W a M Q e M ] c M U R b\ a R ] R f M O Z R Z W ‘ d W Q S d R Z R g P R R Q W ] U c V R P ^ b c ^ S c a M Q W c W ^ ] M Z Z h a R S W ] R Q _ R c a I W c V ^ d c \ M a Y R c \ M ] Q M c R b M ] Q b d O b W Q W R b\ a R ] R f M O Z R M b R P ^ ] ^ \ W P M Z Z h e W M O Z R M b P ^ ] e R ] c W ^ ] M Z M Z c R a ] M c W M b P ^ \ _ Z R g a R U d Z M c ^ a h _ R a \ W c c W ] U _ a ^ P R b b R b M ] Q S R R P ^ ] b W Q R a M c W ^ ] b P M ] Q R Z M h ^ a Z W \ W c c V R R g _ M ] b W ^ ] _ a ^ Q d P c W ^ ]Y 8 ^ e R a ] \ R ] c b d _ _ ^ a c c V a ^ d U V S R Q R a M Z M ] Q b c M c R _ a ^ U a M D R ] R f M O Z R 7 d R Z E c M ] Q M a Q\ 4 M Z W S ^ a ] W M > ^ f 4 M a O ^ ] 7 O Z R ] Q W ] U \ M ] Q M c R b M a ^ d ] Q c V R f ^ a Z Q\ V M b O R R ] _ W e ^ ^ S a R ] R f M Z Z W ‘ d W Q S d R Z bY F V R b R W ] W c W M c W e R b _ a ^ e c ^ P ^ ] b c a d P c ] R f S M P W Z W c W R b ^ a P ^ ] e R a c c a M Q W c W ^ ] M Z S M P W Z W c W R b\ V R Z _ W ] U c ^ ^ e R a P ^ \ R b W U ] W S W P M ] c P ^ b W ] c V R b R P c ^ aY : ^ f R e R a\ b ^ \ R a R ] R f M O Z R S d R Z _ a ^ Q d P c b b c a d U U Z R f W c V P ^ b c P ^ \ _ R c W c W e R ] R b b R e R ] f W c V R g W b T d ‘ o ‘ o ‘ j [ e k p [ k l k c l e k c k ‘ ‘ _ a l o o l ] r p q m l h e ^ v p r m m q d ‘ ^ l k q e k r ‘ _ c o l t q d [ k _ s e [ ] e h e q v l a o ‘ k ‘ t [ ] h ‘ a r ‘ h p A e l ‘ k ‘ o c v S r m m h v E e c r o ‘ … A e l ‘ k ‘ o c v S r m m h v r k _ ‘ o V [ o e l r p S ^ 5 M c M b ^ d a P R b[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y ] ; B 4 4 \ 2 D E P R ] M a W ^ 6 g _ Z ^ a R a M ] Q 5 M c M O M b R : ^ b c
Slide 18 — 5 ( 1 ( : $ % / ( 6 3 2 5 7 ) 2 / , 2 + , * + / , * + 7 6
5 ( 1 ( : $ % / ( 6 3 2 5 7 ) 2 / , 2 + , * + / , * + 7 6 2 c ? B 4 M ] Q ? B > J \ f R V M e R M Z ^ ] U V W ] ] ^ e M c W ^ ] c V M c P ^ ] c W ] d R b c ^ ^ _ c W \ W j R ^ d a P ^ a R S d R Z b \ M ] d S Z ^ U W b c W P b O d b W ] R b b R b M ] Q R O d b W ] R b b f V W Z R \ M Y W ] U b c a M W ] e R b c \ R ] c b W ] a R ] R f M O Z R M ] Q b ^ Z d c W ^ ] b\ R \ R a U W ] U c R P V ] ^ Z ^ Q R e R Z ^ _ \ R ] c bY I R V M e R W ] e R b c e R a O W Z Z c ^ P ^ ] e R a c c f ^ ^ S ^ d a _ R c a ^ Z R d \ a R S W ] R a W R c ^ _ a ^ Q d P R a R ] R f M O Z R Q W R b R ZY I R O R Z W R e R R ] R a U h b d _ _ Z h M ] Q P ^ ] c W ] d R c ^ R e ^ Z e R\ M ] Q f R M a R ] U M U R Q W ] c V R W a R e ^ Z d c W ^ ] P a W c W P M Z c ^ c ^ Q M hm b R P ^ ] ^ \ h P ^ ] c W ] d R c ^ O R S ^ a c V R S ^ a R b R A _ c W \ W j W ] U V ^ f c V R h M a R _ a ^ Q d P R Q W b W \ _ ^ a c M ] c c ^ R ] R a U h \ M a Y R O d b W ] R b b M ] Q S ^ d ] Q M c W ^ ] M Z c b c R f M a Q b V W _ P ^ \ \ W c \ R ] cY A d a a R ] R f M O Z R S d R Z b b R a e R ^ d a P d P ^ ] c a W O d c R c ^ a R Q d P W ] U c V R P _ a ^ Q d P c bY M @ R T I N D Z R D N D W @ A L D E U D L S « J O I N T V D N T U R D‹ O r o o ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h a [ ^ e h e q v e k M [ o q e k ‘ x¿ B [ h e a l o k e [¿ t d e ^ d t ‘ ^ lª l t k q d o l r M [ o q e k ‘ x R ‘ k ‘ t [ ] h ‘ p f l e k q s ‘ k q r o ‘ t e q d N ‘ p q ‘ B l o m l o [ q e l k¿ d [ p [ ^ [ m [ ^ e q v l a j e h h e l k c [ h h l k p m ‘ o v ‘ [ o [ k _ e k ^ h r _ ‘ p m o ‘ q o ‘ [ q j ‘ k q ^ [ m [ ] e h e q e ‘ p… T d ‘ a [ ^ e a r h h ^ [ m [ ^ e q v e k h [ q ‘ ¿ m h [ ^ e k c e q [ j l k c q d ‘ h [ o c ‘ p q o ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h a [ ^ q d ‘ t l o h _… L E A I O D N D R F Y « M P B I N V D S T M D N T‹ W ‘ ‘ u m [ k _ ‘ _ l r o m l o q a l h e l e k q l e k ^ h r _ ‘ o ‘ k ‘ t [ ] h ‘ k [ q q d o l r c d [ ^ n r e p e q e l k l a [ … § e k q ‘ o ‘ p q e k L E A e l ‘ k ‘ o c v¿ _ ‘ s ‘ h l m ‘ o q d [ q ] r e h _ p¿ l t k p [ k _ l m ‘ o [ q ‘ p a [ ^ e h e q e ‘ p q d [ q a [ o j p e k q l R N F… S e k ^ ‘ q d ‘ k¿ L E A e l ‘ k ‘ o c v d [ p e k e q e [ q ‘ _ ^ l j j ‘ o ^ e [ h a e s ‘ a [ ^ e h e q e ‘ p [ k _ d [ p q t l [ _ _ e q e l k [ h p e q ‘ p r k _ ‘ o ^ l k p q o C I B K I N S O N R D N D W @ A L D E U D L S O r o o ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h a [ ^ e h e q v e k C e ^ g e k p l k¿ N l o q d C [ g l q m ‘ q o l h ‘ r j o ‘ a e k ‘ o v r k q e h … T d e p e p [ m o e j ‘ ‘ u [ j m h ‘ l a q d ‘ q o [ k p e q e l k q l [ h l t ‘ oª ^ [ o ] l k a r q r o ‘ ] v r p e k c ‘ u e p q e k c a [ ^ e h e q v d [ p q d ‘ ^ [ m [ ^ e q v q l m o l _ r ^ ‘ j e h h e l k c [ h h l k p m ‘ o v ‘ [ o l a o I k ¿ t ‘ t ‘ o ‘ l k ‘ l a q d ‘ h [ o c ‘ p q p r m m h e ‘ o p l a o ‘ k ‘ t [ ] h ‘ a r ‘ h p e k q d ‘ U… S…¿ _ ‘ h e s ‘ o e k c [ m m o l u e j [ q ‘ h v … ] e h h e l k c [ h h l k p l a o ‘ k ‘ t [ ] h ‘ a r ‘ h q l ^ r p q l j ‘ o p… K D Y O A J D B T I V D S î I _ ‘ k q e a v [ k _ m r o p r ‘ o ‘ k ‘ t [ ] h ‘ l m m q d [ q l a a ‘ o [ q q o [ ^ q e s ‘ o ‘ q r o k p¿ h l e k ^ o ‘ [ p ‘ o ‘ h e [ ] e h e q v [ k _ o ‘ _ r ^ ‘ ‘ î C ‘ m h l v q ‘ ^ d k l h l c e ‘ p q d [ q o ‘ _ r ^ ‘ e j m [ ^ q t d e h ‘ ‘ k d [ k ^ e k c ] r p e k ‘ p p m P e ^ q r o ‘ _¾ C e ^ g e k p l k o ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h
Slide 19 — E e c r o ‘ … M P B R ‘ k ‘ t [ ] h ‘ E r ‘ h p P o l _ r ^ q e l k
5 ( 1 ( : $ % / ( / , 4 8 , ’ ) 8 ( / 6 ; ] \ f R M P V W R e R Q M \ W Z R b c ^ ] R O h _ a ^ Q d P W ] U M _ _ a ^ g W \ M c R Z h \ W Z Z W ^ ] U M Z Z ^ ] b ^ S a R ] R f M O Z R S d R Z b\ b R c c W ] U M a R P ^ a Q S ^ a ^ d a P ^ \ _ M ] hY 2 Q Q W c W ^ ] M Z Z h\ O h Z M c R Z M b c h R M a \ ^ d a X ^ W ] c e R ] c d a R ^ _ R a M c W ^ ] f W c V @ R b c R W ] ? M a c W ] R j a R M P V R Q W c b a R ] R f M O Z R S d R Z M ] ] d M Z P M _ M P W c h a M c R ^ S \ W Z Z W ^ ] U M Z Z ^ ] b _ R a h R M aY W ‘ p q o e s ‘ q l ^ l k q e k r [ h h v h l t ‘ o q d ‘ ^ [ o ] l k e k q ‘ k p e q v l a q d ‘ m o l _ r ^ q p t ‘ l a a ‘ o q l l r o ^ r p q l j ‘ o p… I k ¿ t ‘ _ ‘ h e s ‘ o ‘ _ [ m m o l u e j [ q ‘ h v … ] e h h e l k c [ h h l k p l a o ‘ k ‘ t [ ] h ‘ a r ‘ h p¿ t d e ^ d e p ‘ p q e j [ q ‘ _ q l [ s l e _ k ‘ [ o h v j e h h e l k q l k k ‘ p l a B O ‘ q o [ k p m l o q [ q e l k ‘ j e p p e l k p m ‘ o v ‘ [ o … j e h h e l k c [ h h l k p m ‘ o v ‘ [ o¿ ‘ n r e q v p d [ o ‘ E e c r o ‘ … M P B R ‘ k ‘ t [ ] h ‘ E r ‘ h p P o l _ r ^ q e l k A e l _ e ‘ p ‘ h D q d [ k l h R ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h R ‘ k ‘ t [ ] h ‘ k [ m d q d [ R ‘ k ‘ t [ ] h ‘ L P F p R ‘ k ‘ t [ ] h ‘ k [ q r o [ h c [ p• W d e h ‘ ] e l a r ‘ h m o l _ r ^ q e l k d [ p j [ _ ‘ k l q [ ] h ‘ p q o e _ ‘ p e k [ _ l m q e l k¿ [ k _ l m m l o q r k e q e ‘ p m ‘ o p e p q… @ _ _ o ‘ p p e k c q d ‘ p ‘ e p ‘ p p ‘ k q e [ h a p r p q [ e k [ ] h ‘ e k q ‘ c o [ q e l k l a ] e l a r ‘ h p… K D Y E @ B T O R S I N B L U C D¾ î E ‘ ‘ _ p q l ^ g [ s [ e h [ ] e h e q v [ k _ ^ l p q î @ _ s [ k ^ ‘ j ‘ k q p e k ] e l a r ‘ h m o l _ r ^ q e l k q ‘ ^ d k l h l c v î D ^ l k l j e ^ ^ l k p e _ ‘ o [ q e l k p î P l h e ^ v [ k _ o ‘ c r h [ q l o v p r m m l o q P e ^ q r o ‘ _¾ M [ o q e k ‘ x o ‘ k ‘ t [ ] h ‘ _ e ‘ p ‘ h a [ ^ e h e q v T B a R b R ] c R Q M b \ W Z Z W ^ ] U M Z Z ^ ] b _ R a h R M a a R ] R f M O Z R Q W R b R Z R ‘ d W e M Z R ] cY
Slide 20 — ¿
I k _ r p q o e [ h [ m m h e ^ [ q e l k p @ N C E l l _ [ k _ ] ‘ s ‘ o [ c ‘ e k _ r p q o v & $ 5 % 2 1 & $ 3 7 8 5 ( 4 M a O ^ ] P M _ c d a R\ d c W Z W j M c W ^ ] M ] Q b R ‘ d R b c a M c W ^ ] H 4 4 G EI c R P V ] ^ Z ^ U W R b M a R a R P ^ U ] W j R Q O h O ^ c V c V R ; B 4 4 U ^ M Z bY \ F V W b _ a ^ e R ] M ] Q R S S R P c W e R c R P V ] ^ Z ^ U h P M ] b d _ _ ^ a c R S S ^ a c b b d P V M b Z ^ f R ay P M a O ^ ] V h Q a ^ U R ] _ a ^ Q d P c Q R P M a O ^ ] W j M c W ^ ] ^ S V M a Qy c ^y M O M c R b R P c ^ a b\ W ] P Z d Q W ] U _ R c a ^ Z R d \ a R S W ] W ] U\ P V R \ W P M Z M ] Q b c R R Z \ M ] d S M P c d a W ] U\ M ] Q V R 5 R b _ W c R W c b _ ^ c R ] c W M Z\ 4 4 G E c R P V ] ^ Z ^ U h V M b b ^ S M a O R R ] M Q ^ _ c R Q ^ ] Z h W ] Z W \ W c R Q M _ _ Z W P M c W ^ ] bY : ^ f R b c M c R M ] Q Z ^ P M Z U ^ e R a ] \ R ] c b\ _ ^ Z W P h W ] b c W c d c W ^ ] b\ M P M Q R \ W M\ ] M c W ^ ] M Z Z M O ^ a M c ^ a W R b\ M ] Q ^ c V R a\ W ] P c R P V ] ^ Z ^ U hY M P B R ‘ a e k e k c¾ ¿ q l k k ‘ p B O M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p¾ ¿ q l k k ‘ p B O J l e k q V ‘ k q r o ‘ p « [‹¾ ¿ q l k k ‘ p B O ¿ q l k k ‘ p l a B O ^ [ m q r o ‘ _ e k « ]‹ E e c r o ‘ … B [ o ] l k B [ m q r o ‘ ] v M P B [ k _ M P L X O m ‘ o [ q e l k p [ k _ J l e k q V ‘ k q r o ‘ p M P B [ k _ M P L X p r m m l o q q d ‘ ^ l k q e k r ‘ _ _ ‘ s ‘ h l m j ‘ k q [ k _ r p ‘ l a B B U S q ‘ ^ d k l h l c v [ p [ p q o [ q ‘ c v a l o o ‘ _ r ^ e k c ‘ j e p p e l k p [ k _ q d ‘ ^ [ o ] l k e k q ‘ k p e q v l a q d ‘ m o l _ r ^ q p t ‘ p r m m h v… H MI H M Z d R W ] P Z d Q R b _ a ^ Q d P c W ^ ] O h X ^ W ] c e R ] c d a R R ] c W c h M P P ^ d ] c R Q S ^ a M b R ‘ d W c h \ R c V ^ Q W ] e R b c \ R ] c bY H OI F ^ c M Z \ M h ] ^ c b d \ Q d R c ^ W ] Q R _ R ] Q R ] c a ^ d ] Q W ] UY
Slide 21 — ? M ] M U W ] U B V h b W P M Z D W b Y b c ^ A d a 7 M P W Z W c W
? M ] M U W ] U B V h b W P M Z D W b Y b c ^ A d a 7 M P W Z W c W F ^ b P a R R ] S ^ a P Z W \ M c R y a R Z M c R Q _ V h b W P M Z a W b Y b ^ S ^ d a M b b R c b\ f R P ^ ] Q d P c M ] M b b R b b \ R ] c ^ S \ d Z c W _ Z R V M j M a Q b a R Z I R c M Y R W ] c ^ M P P _ V h b W P M Z M b b R c b M ] Q P ^ ] b W Q R a c V R W a R g _ ^ b d a R M ] Q a R b W Z W R ] P R c ^ P Z W \ M c R W \ _ M P c bY F V W b W ] S ^ a \ M c W ^ ] W b _ d c c ^ U R c V R a c ^ M b b R b b c V R ^ e R M ] Q _ a ^ X R P c W ^ ] ^ S P Z W \ M c R V M j M a Q b\ O ^ c V M P d c R H WY RY\ R g c a R \ R f R M c V R aI M ] Q P V a ^ ] W P H WY RY\ b R a R ‘ d W a R Q c ^ R ] V M ] P R c V R a R b W Z W R ] P R ^ a M Q M _ c M O W Z W c h ^ S ^ d a b W c R bY I V W Z R b ^ \ R V M j M a Q b W ] P Z d Q ^ d a M b b R b b \ R ] c M a R b d \ \ M a W j R Q W ] c V R c M O Z R O R Z ^ fY 6 & 5 ( ( 1 , 1 * 2 ) 6 ( / ( & 7 3 + < 6 , & $ / 5 , 6 . 6 @ S S D T S I Z D S D @ª L D V D L R I S D R I S K H U R R I B @ N D R I S K W @ T D R @ V @ I L @ A I L I T Y R I S K W I L C E I R D R I S K P D T R O L D U M R D E I N D R I B R U C D B @ P @ B I T Y « M A P C‹ B O @ S T @ L I N U N C @ T D C @ T E T S D @ª L D V D L R I S D « [‹ F U L E B O @ S T H I F H W @ T D R S T R D S S R D F I O N « ]‹ B @ L I E O R N I @ E I R D H @ Z @ R C S D V D R I T Y Z O N D « ^‹ F [ h s ‘ p q l k A [ v¿ T ‘ u [ p Ó Ó Ó Ó F [ o v s e h h ‘¿ L l r e p e [ k [ Ó Ó Ó Ó L l p @ k c ‘ h ‘ p¿ B [ h e a l o k e [ Ó Ó Ó D h P [ p l¿ T ‘ u [ p Ó Ó Ó Ó Ó @ k [ ^ l o q ‘ p¿ W [ p d e k c q l k Ó Ó Ó Ó Ó K ‘ k [ e¿ @ h [ p g [ Ó Ó Ó Ó Ó S [ h q L [ g ‘ B e q v¿ U q [ d Ó Ó Ó Ó Ó R ‘ j [ e k e k c R ‘ a e k ‘ o e ‘ p Ó Ó Ó Ó Ó Ó M I C S T R D @ M B O U N T T ‘ o j e k [ h p $ Ó Ó N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p E [ ^ e h e q e ‘ p $ Ó Ó Ó Ó Ó H MI 3 M b R Q ^ ] W ] c R a _ a R c M c W ^ ] b ^ S c V R @ M c W ^ ] M Z A P R M ] W P M ] Q 2 c \ ^ b _ V R a W P 2 Q \ W ] W b c a M c W ^ ] H @ A 2 2I E R M > R e R Z D W b R H W R f R a\ f V W P V W b M b P a R R ] W ] Uy 2 P P R b b R Q < d ]Y Y @ ^ c R[ 2 b b R c b W ] 2 Z M b Y M M a R ] ^ c W ] P Z d Q R Q W ] c V R b P a R R ] W ] U M b c V R @ A 2 2 E R M > R e R Z D W b R H W R f R a W b ^ ] Z h M e M W Z M O Z R S ^ a c V H OI I ^ a Z Q D R b ^ d a P R ; ] b c W c d c R\ 2 ‘ d R Q d P c 2 b b R b b \ R ] c F ^ ^ Z\ M e M W Z M O Z R M c V c c _ b[§§ f f fY f a WY ^ a U§ M ‘ d R Q d P c§ c ^ ^ Z bY 2 P P R b b R Q < M ]Y Y @ ^ c R[ @ ^ c b P a R R ] R Q H PI 4 M Z W S ^ a ] W M A S S W P R ^ S c V R E c M c R 7 W a R ? M a b V M Z 7 W a R : M j M a Q E R e R a W c h L ^ ] R H 7 : E LI \ M _ b M b b W U ] M V M j M a Q b P ^ a R O M b R Q ^ ] S M P c ^ a b W ] S Z d R ] P W ] U 6 M P V b W c R W b Z ^ P M c R Q W ] M ] M a R M c V M c V M b W Q R ] c W S W R Q M b M @ ^ 7 W a R : M j M a Q E R e R a W c h L ^ ] R Y 2 e M W Z M O Z R M c[ V c c _ b[§§ ^ b S \Y S W a RY P MY U ^ e§ f V M cy f Ry Q ^§ P ^ \ \ d ] W c hy f W Z Q S W a Ry _ a R _ M a R Q ] R b by M ] Qy \ W c W U M c W ^ ]§ S W a R
Slide 22 — O r o m l h e ^ e ‘ p [ k _ m o l c o [ j p ‘ k [ ] h ‘ r p q l ‘ a a ‘ ^ q e s ‘ h v
0 , 7 , * $ 7 , 2 1 ( ) ) 2 5 7 6 A d a S M P W Z W c W R b M a R b d O X R P c c ^ M P d c R _ V h b W P M f W ] Q b\ c ^ a ] M Q ^ R b\ f W Z Q S W a R b\ R g c a R \ R c R \ _ R a M c P V a ^ ] W P _ V h b W P M Z a W b Y b\ b d P V M b b R My Z R e R Z a Q R e R Z ^ _ R Q P ^ \ _ a R V R ] b W e R _ a ^ U a M \ b M ] Q _ a ^ P R Q d P ^ ] c W ] d M c W ^ ] ^ S ^ d a ^ _ R a M c W ^ ] b Q d a W ] U b R e R a R a R P ^ e R a hY 7 d a c V R a \ ^ a R\ f R V M e R W ] P d a a R Q\ M ] Q R M Q Q W c W ^ ] M Z P ^ b c b c ^ _ a ^ c R P c ^ d a M b b R c b M ] Q ^ _ c V M c \ M h ^ P P d a\ W ] e R b c W ] U W ] c V R R \ _ Z ^ h \ R ] c ^ S _ a ^ P R b b R bY ; S b R e R a R f R M c V R a R e R ] c b ^ a ^ c V R a P Z S a R ‘ d R ] c M ] Q§ ^ a b R e R a R\ f R \ M h ] R R Q c ^ \ ^ Q W S h ^ W ] P a R M b R Q P ^ b c b\ _ ^ c R ] c W M Z Z h W \ _ M P c W ] U ^ d a O & + 5 2 1 , & 5 , 6 . 6 S ‘ [ª h ‘ s ‘ h R e p g p ? B 4 ^ _ R a M c R b P ^ M b c M Z b W c R b\ W ] P Z d Q W ] U S W e R a S d R Z b S M P W Z W c h\ M ] Q c R a \ W ] M Z bY G ] Q R a M V W ; B 4 4 R b c W \ M c R b M Z W Y R Z h b R My Z R e R Z a W b R a M ] U f W c V M \ R Q W M ] ^ S Y \ R c R a b H Y S R R cI O h Y 2 Q ^ _ c W ] U M P ^ ] b R M _ _ a ^ M P V\ f R R e M Z d M c R Q ^ d a M b b R c b M c S R R c\ R 3 R Z ^ f W b M b d \ \ M a h ^ S ^ d a M b b R b b \ R ] c b M ] Q R ] V M M S S R P c R Q b W c R b[ D R ] R f M O Z R S d R Z b S M P W Z W c h H ? M a c W ] R j\ 4 M Z W S 2 c S R R c\ M Z ^ f Z R e R Z ^ S S Z ^ ^ Q W ] U f M b W Q R ] c W c V R ] ^ a c V R a ] R ] Q ^ S c V R _ a ^ _ R a c hY ; ] \ c V R c R Z M c R b c ? M a W ] R A W Z F R a \ W ] M Z 6 ] U W ] R R a W ] U ? ? _ ^ c R ] c W M Z b R My Z R e R Z a W b RY 7 d a c V R a \ ^ a R\ c ^ \ R c R P V ] W P M Z R b c W \ M c W ^ ] b ^ S S d c d a R f M c R a Z R e R Z ; ] \ f M c R Z R e R Z b f R a R R b c W \ M c R Q c ^ W ] P a R M b R O h Y S R S Z ^ ^ Q P ^ ] Q W c W ^ ] bY I W c V f M c R ay Z R e R Z a W b R R b c W ] P V _ R a h R M a\ c V R _ W _ R Z W ] R b M c c V R b W c R f ^ Y F V W b _ a ^ e W Q R b b d S S W P W R ] c c W \ R c ^ \ ^ ] W c ^ W \ _ M P c bY c R a \ W ] M Z b H 2 Z M b Y M\ 4 M Z W S ^ a ] W M\ 7 Z ^ a W Q M\ F V R b R c R a \ W ] M Z b W ] Q W P M c R \ W ] ^ a W \ _ M P c b M c S R P V a ^ ] W P ] M c d a R ^ S b R My Z R e R Z a W b R\ f R M a R M O _ ^ c R ] c W M Z W \ _ M P c bY W [ q ‘ o @ s [ e h [ ] e h e q v [ k _ C o l r c d q B Z R M b R b R R \ ^ a R W ] S ^ a \ M c W ^ ] ^ ] B M U R b y a R U M P c W ^ ] b c ^ \ W c W U M c R f M c R a a W b Y b c V a ^ d U V ^ d a 7 O r o m l h e ^ e ‘ p [ k _ m o l c o [ j p ‘ k [ ] h ‘ r p q l ‘ a a ‘ ^ q e s ‘ h v j l k e q l o¿ [ p p ‘ p p¿ [ k _ o ‘ p m l k _ q l m d v p e ^ [ h ^ h e j [ q ‘ o e p g p… P e ^ q r o ‘ _¾ M q… @ e o v T ‘ o j e k [ h
Slide 23 — E e c r o ‘ … F r h a B l [ p q R ‘ a e k ‘ o v E h l
$ & 8 7 ( 5 , 6 . 6 W e k _ [ k _ W e h _ a e o ‘ I W ] Q[ D R S W ] R a h b c a d P c d a R b M a R U R ] R a M Z Z h Q R b W U ] R Q S ^ a M f W ] Q Z ^ M Q ^ S d _ c ^ \ _ V M ] Q M a R ] ^ c Z W Y R _ R a W ^ Q b ^ S R Z R e M c R Q f W ] Q b Q d R c ^ _ V h b W P M Z a W U W Q W c h M ] Q W ] V R a R ] c b c a R ] U c V ^ S a R S W ] R a h W ] S a M b I W Z Q S W a R H 4 M Z W S ^ a ] W M 2 b b R c bI [ A d a M b b R c b M a R Z ^ P M c R Q W ] M a R M b c V M c c V R E c M c R 7 W a R ? M a b V M Z V M b W Q R ] c W S W R @ ^ 7 W a R : M j M a Q E R e R a W c h L ^ ] R b H 7 : E LI M b ^ _ _ ^ b R Q c ^ H R a h : W : W U V \ ^ a ? ^ Q R a M c R 7 : E L Y F V W b P Z M b b W S W P M c W ^ ] W b O M b R Q ^ ] O d a ] _ a ^ O M O W Z W c W R b M ] Q _ ^ c R ] c W M Z S W a R O R V @ ^ 7 : E L W b ^ d a > ^ b 2 ] U R Z R b a R S W ] R a h\ f V W P V W b Z ^ P M c R Q W ] M V W U V Z h W ] Q d b c a W M Z W j R Q M ] Q d a O M ] M a R M\ f W c V M Q Q W c W e k q ‘ o S q l o j p [ k _ H ‘ [ s v R [ e k a [ h h 6 g c a R \ R F R \ _ R a M c d a R§ I W ] c R a W j M c W ^ ][ D R S W ] R a W R b W ] a R U W ^ ] b c V M c R g _ R a W R ] P R S a R R j W ] U M ] Q R g c a R \ R f W ] c R a f R M c V b V ^ a cy M ] Q Z ^ ] Uy c R a \ M P c W ^ ] b c ^ R ] b d a R c V M c c V R a R S W ] R a h W b _ a R _ M a R Q S ^ a f W ] c R a R e R a h h R M aY F V R _ a ^ X R P c b c ^ f W ] c R ay _ a ^ ^ S R ‘ d W _ \ R ] cY F V W b W ] P Z d Q R b M P c W ^ ] b b d P V M b c V R f W ] c R a W j M c W ^ ] ^ S c V R ^ ]y b Q d R c ^ Q W b a d _ c W a R b d Z c W ] U S a ^ \ V M a Q S a R R j R b W ] M ] Q Y F V R _ a ^ X R P c d _ U a M Q R b M Z Z ^ f R Q c V R S M P W Z W c h c ^ a d ] R S î B W _ R Z W ] R ; ] c R U a W c h ? M ] M U R \ R ] c[ A d a \ W Q b c a R M \ b R U \ R ] c ^ f ] b\ Z R M b R b ^ a V M b M ] ^ f ] R a b V W _ W ] c R a R b c W ] M _ _ a ^ g W \ M c \ \ W Z R b ^ S _ W _ R Z W ] R c V a ^ d U V ^ P ^ ] c W ] d ^ d b Z h \ ^ ] W c ^ a M ] Q \ M ] M U R c V R W ] c R U a W c h ^ S ^ d a _ W _ R Z W ] R b h b c R \ b O M b R Q ^ ] P V M ] U W ] U P ^ ] Q W W Q R ] c W S h W ] U M ] Q _ a ^ M P c W e R Z h a _ W _ R Z W ] R b R U \ R ] c b Q R R _ R a O R Z ^ f f M c R a f M h O R Q b c ^ a R Q d P R c V R a W b Y ^ S b P ^ d a W ] UY H r o o e ^ [ k ‘ p [ k _ T o l m e ^ [ h S q l o j p 6 g c R a ] M Z 7 Z ^ ^ Q M ] Q E c ^ a \ E d a U R 4 ^ ] c a ^ Z b[ A d a 8 M a h e W Z Z R a R S W ] R a h W b Z ^ P M c R Q P d a a R ] c Z h _ a ^ c R P c R Q O h M ] R g c R a ] M Z Z R e R R b h b c R \ c V M c a d ] b M Z b _ W Z Z f M h b O ^ c V d _ b c a R M \ M ] Q Q ^ f ] b c a R M \ ^ S c V R S M P W Z W c h H 7 W U d a R IY F V W b Q d a W ] U V d a a W P M ] R b b d P V M b = M c a W ] M W ] \ 8 d b c M e W ] M ] Q ; ] M Q Q W c W ^ ]\ M ] Y y \ W Z R a R Q d P c W ^ ] b h b c R \ W b P d a a R ] c Z h d ] Q R a P ^ ] b c a d P c W ^ ] c ^ _ a ^ c R P c M \ _ a ^ X R P c R Q c ^ O R P ^ \ _ Z R c R W ] Y 7 d a c V R a \ ^ a R\ M Q Q W c W ^ ] M Z b M S R U d M a Q b\ P ^ \ _ a R b b ^ a b ^ ] S ^ d ] Q M c W ^ ] b M O ^ e R U a M Q R M ] Q M Q ^ _ c W ] U V d a a W P W \ _ Z R \ R ] c R QY A d a 8 M Z e R b c ^ ] 3 M h a R S W ] R a h W b _ a ^ c R P c R Q f W c V c V M c _ a ^ c R P c b b ‘ d M a R \ W Z R b ^ S Z M ] Q W ] c V R F R g M b 4 W c h M a R _ a ^ c R P c W ^ ] c V a ^ d U V b R e R a M Z b c ^ a \ b\ W ] P Z d Q W ] U : d a a W P M ] R ; Y R ^ S c V R b R b c ^ a \ b P M d b R Q \ M c R a W M Z S Z ^ ^ Q W ] U c ^ ^ d a ^ _ R a M c W ^ ] bY 7 M P W Z W c h : M a Q R ] W ] U[ @ R f P R ] c a M Z W j R Q P ^ ] c a ^ Z a ^ ^ \ b M c ^ d a 8 M a h e W Z Z R M O d W Z c c ^ f W c V b c M ] Q f W ] Q M ] Q b c ^ a \ b d a U R b P V M a M P c R a W b c W P S V M a Q R ] W ] U \ R M b d a R b M a R Q R b W U ] R Q c ^ _ a ^ c R P c c V R \ M W ] P ^ ] c a ^ ^ _ R a M c W ^ ] M Z b c M ] Q W ] U Q d a W ] U R g c a R \ R f R M c V R a R e R ] c bY ; ] M Q c M ] Y b\ M ] Q ^ c V R a Z ^ U W b c W P M Z M b b R c b c ^ f W c V b c M ] Q b W U ] W S W P 6 Z R P c a W P M Z ; ] S a M b c a d P c d a R M ] Q B ^ f R a E d _ _ Z h[ I R P ^ ] c W ] d R c ^ _ a ^ M P c W e R Z h W \ _ Z R \ R c ^ a R _ Z M P R M ] Q d _ U a M Q R R Z R P c a W P M Z W ] S a M b c a d P c d a R M c ^ d a a P M O Z R W ] b c M Z Z M c W ^ ] b\ P ^ \ O W ] W ] U b d O b c M c W ^ ] b\ ^ ]y b W c R U R ] R a W ] S a M b c a d P c d a R c ^ M e ^ W Q S Z ^ ^ Q W ] U\ M ] Q ^ c V R a \ R M b d a R bY 8 d Z S b d _ _ Z W R b M ] Q V W b c ^ a W P M Z Z h V M e R R g _ R a W R ] P R Q S R f _ a ^ O Z R \ b R e R ] c b\ W ] P Z d Q W ] U V d a a W P M ] R bY A d a ^ c V R a S M P W Z W c W R b\ b d P V R g _ ^ b R Q c ^ V d a a W P M ] R b ^ a ^ c V R a b R e R a R f R M c V R a\ R Z R e M c R _ ^ f R M ] Q \ M W ] c M W ] M P ^ \ O W ] M c W ^ ] ^ S ^ ]y b W c R U R ] R a M c ^ a b M ] Q P ^ ] c a c V R R e R ] c ^ S _ ^ f R a Z ^ b bY @ ^ c M O Z h\ W ] \ M Z Z ^ d a ^ _ R a M c W ^ ] b _ ^ f R a c V a ^ d U V ^ d c : d a a W P M ] R : M a e R h M ] Q W c b M S c R a \ M c VY L ‘ s ‘ ‘ M e p p e p p e m m e R e s ‘ o h ‘ s ‘ ‘ E e c r o ‘ … F r h a B l [ p q R ‘ a e k ‘ o v E h l
Slide 24 — ( 0 ( 5 * ( 1 & < 3 5 ( 3 $ 5 ( ’ 1 ( 6 6 $ 1 ’ 5 ( 6 3 2 1 6 (
( 0 ( 5 * ( 1 & < 3 5 ( 3 $ 5 ( ’ 1 ( 6 6 $ 1 ’ 5 ( 6 3 2 1 6 ( ? R c W P d Z ^ d b _ Z M ] ] W ] U M ] Q _ a R _ M a R Q ] R b b M a R P a W c W P M Z c ^ R S S R P c W e R Z h a R b _ ^ ] Q c ^ R \ R a U R ] P W R b b d P V M b a R Z R M b R b\ \ M X ^ a S Z ^ ^ Q b\ S W a R b\ M ] Q V d a a W P M ] R bY F V a ^ d U V P ^ ] c W ] d ^ d b W \ _ a ^ e R \ R ] c W ] ^ d a a R b _ ^ ] b R P M _ M O W Z W c W R b\ f R b R R Y c ^ \ W ] W \ W j R M ] Q \ W c W U M c R c V R W \ _ M P c b ^ ] _ R ^ _ Z R M ] Q c V R R ] e W a ^ ] \ R ] c f V R ] W ] P W Q R ] c b ^ P P d aY M [ e k q [ e k e k c D j ‘ o c ‘ k ^ v P o ‘ m [ o ‘ _ k ‘ p p [ k _ R ‘ [ _ e k ‘ p p ? B 4 M ] Q ? B > J \ M W ] c M W ] M a R b _ ^ ] b R _ a ^ U a M \ Q R b W U ] R Q c ^ c R b c M ] Q P ^ ] c W ] d ^ d b Z h R ] V M ] P R ^ d a a R b _ ^ ] b R P M _ M O W Z W c W R b [ ; ] P W Q R ] c 4 ^ \ \ M ] Q E h b c R \ I R d c W Z W j R c V W b U Z ^ O M Z Z h a R P ^ U ] W j R Q R \ R a U R ] P h a R b _ ^ ] b R \ M ] M U R \ R ] c b h b c R \ c ^ _ a ^ \ ^ c R R S S R P c W e R M ] Q ^ a U M ] W j R Q W ] c R U a M c W ^ ] ^ S M Z Z a R b _ ^ ] Q R a b\ a R b ^ d a P R b\ M ] Q a R b _ ^ ] b R \ M ] M U R \ R ] c R S S ^ a c bY D R U d Z M a F a M W ] W ] U\ 5 a W Z Z b\ M ] Q 6 g R a P W b R b A d a R g R a P W b R b _ a R _ M a R d b S ^ a R \ R a U R ] P h b W c d M c W ^ ] b M ] Q M a R d b R Q c ^ a R e W R f\ P a W c W ‘ d R M ] Q W \ _ a ^ e R ^ d a R \ R a U R ] P h a R b _ ^ ] b R _ Z M ] bY F V R b R R g R a P W b R b S ^ Z Z ^ f c V R S R Q R a M Z U ^ e R a ] \ R ] cm b @ M c W ^ ] M Z B a R _ M a R Q ] R b b S ^ a D R b _ ^ ] b R 6 g R a P W b R B a ^ U a M \ H B D 6 BI\ f V W P V b M c W b S W R b c V R a R ‘ d W a R \ R ] c b ^ S c V R A W Z B ^ Z Z d c W ^ ] 2 P c ^ S Y I R M Z b ^ a R e W R f ^ c V R a M _ _ Z W P M O Z R S R Q R a M Z\ b c M c R M ] Q Z ^ P M Z a R ‘ d W a R \ R ] c b M ] Q W ] P Z d Q R M Q Q W c W ^ ] M Z R g R a P W b R b M ] Q b c R _ b Q R b W U ] R Q c ^ \ R R c M ] h b d P V a R ‘ d W a R \ R ] c bY G ] W S W R Q D R b _ ^ ] b R I R c M Y R M P ^ Z Z M O ^ a M c W e R M _ _ a ^ M P V c ^ R \ R a U R ] P h _ a R _ M a R Q ] R b bY ; ] M Q Q W c W ^ ] c ^ c a M W ] W ] U ^ d a R \ _ Z ^ h R R b M ] Q P ^ ] c a M P c ^ a b\ f R f ^ a Y c ^ R ] U M U R f W c V S R Q R a M Z\ b c M c R\ Z ^ P M Z\ M ] Q c a W O M Z M U R ] P W R b\ Z ^ P M Z S W a R Q R _ M a c \ R ] c b M ] Q ^ c V R a S W a b c a R b _ ^ ] Q R a b\ M ] Q P ^ \ \ d ] W c h Z R M Q R a b f V ^ V M e R M ] W ] c R a R b c W ] c V R Q R b W U ] M ] Q Q R e R Z ^ _ \ R ] c ^ S ^ d a _ Z M ] b M ] Q R g R a P W b R bY W ‘ d [ s ‘ k ‘ [ o h v M P B [ k _ M P L X ‘ j m h l v ‘ ‘ p m [ o q e ^ e m [ q [ ^ o l p p p e u p r ] p ‘ ^ q e l k p l a B D R T … @ _ _ e q e l k [ h ‘ j m h l v ‘ ‘ p ‘ j ‘ o c ‘ k ^ v o ‘ p m l k p ‘ q ‘ [ j p t e q d e k q d ‘ s [ o e l r p l m l o c [ k e x [ q e l k p… î 6 \ R a U R ] P h E c a W Y R F R M \ 2 b c M ] Qy M Z ^ ] R a R b _ ^ ] b R \ M ] M U R \ R ] c c R M \ P M _ M O Z R ^ S b d _ _ Z R \ R ] c W ] U a R Z W R e W ] U ^ a c M Y W ] U P ^ \ \ M ] Q ^ S M \ M X ^ a R \ R a U R ] P hY 6 \ R a U R ] P h E d _ _ ^ a c 8 a ^ d _ B a ^ e W Q R b Y R h b d _ _ ^ a c S d ] P c W ^ ] b\ b d P V M b W ] S ^ a \ M c W ^ ] c R P V ] ^ Z ^ U h P ^ \ \ d ] W P M M ] Q U R ^ U a M _ V W P W ] S ^ a \ M c W ^ ] b h b c R \ \ M _ _ W ] U Q d a W ] U M ] W ] P W Q R ] cY 3 d b W ] R b b D R P ^ e R a h F R M \ I ^ a Y b c ^ \ R R c ? B 4h b\ ? B > Jh b M ] Q P d b c ^ \ R a bm ] R R Q b Q d a W ] U b d _ _ Z h Q W b a d _ c 4 a W b W b ? M ] M U R \ R ] c F R M \ 2 U a ^ d _ ^ S R g R P d c W e Ry Z R e R Z M Q e W b ^ a b _ a R _ M a R Q c ^ a R b _ ^ ] Q c ^ ? B 4m b M ] Q ? B > Jm ] R R Q b Q d a W ] U b W U ] W S W P M ] c W ] P W Q R ] c bY F V a R M c 2 b b R b b \ R ] c 8 a ^ d _ F M b Y R Q f W c V Q R c R a \ W ] W ] U c V R _ ^ c R ] c W M Z W \ _ M P c ^ S M c V a R M c c ^ ? B 4 ^ a ? B > J\ W ] S ^ a \ W ] U W \ _ M P c R Q b c M Y R V ^ Z Q R a b M ] Q a R P ^ \ \ R _ a ^ c R P c _ R M ] Q M b b R c bY ; ] c R a ] M c W ^ ] M Z F R M \ 5 R c R a \ W ] R b c V R _ ^ c R ] c W M Z W \ _ M P c\ a R P ^ \ \ R ] Q b a R b _ ^ ] b R b c a M c R U W R b M ] Q a R b _ ^ ] Q b c ^ W ] P W Q R ] c b a R Z M c R Q c ^ ^ d a W ] c R a ] M c W ^ ] M Z ^ _ R a M c D j ‘ o c ‘ k ^ v B l j j r k e ^ [ q e l k p S v p q ‘ j I R \ M W ] c M W ] M ] R \ R a U R ] P h \ M b by ] ^ c W S W P M c W ^ ] b h b c V d \ M ] W c M a W M ] M W Q c ^ ^ d a _ R a b ^ ] ] R Z Q d a W ] U ] M c d a M P ^ \ \ d ] W P M c W ^ ] b M \ ^ ] U a R b _ ^ ] b R c R M \ bY D j ‘ o c ‘ k ^ v P o ‘ m [ o ‘ _ k ‘ p p F o l r m « D P F‹ ? B 4m b 6 B 8 ^ e R a b R R b ^ d a R \ R a U R ] P h a R b _ ^ ] b R _ a ^ U a P ^ \ _ M ] h f W Q R U d W Q R Z W ] R b M ] Q _ a ^ P R Q d a R b S ^ a _ a R \ R a U R ] P W R bY ; c b S ^ P d b W b ^ ] b c a R ] U c V R ] W ] U ^ d a R S S R P c W e R Z h c ^ M ] R \ R a U R ] P h W ] P W Q R ] c M c M ] h ^ f W c V O d b W ] R b b P ^ \ _ ^ ] R ] c b c ^ b V M a R O R b c _ a M P c W P ^ \ _ M ] hY B l o m l o [ q ‘ D j ‘ o c ‘ k ^ v R ‘ p m l k p ‘ T ‘ [ j « B D R T‹ 6 B 8 \ M W ] c M W ] b 4 6 D F\ M _ a ^ U a M \ c V M c M b b d a R b P ^ a R b ^ d a P R b\ b d _ _ ^ a c M ] Q a R b _ ^ ] b R \ M ] M U R \ R ] c M a R \ M ] M U R \ R ] c S ^ a P ^ \ \ d ] W P M c W ] U\ a R b _ ^ ] Q W ] U c ^ M ] R \ R a U R ] P W R bY T d ‘ P o e k ^ ‘ W e h h e [ j S l r k _ ‘ u ‘ o ^ e p ‘ t [ p l k ‘ l a M P B× p h [ o c ‘ p q ‘ j ‘ o c ‘ k ^ v m o ‘ m [ o ‘ _ k ‘ p p ‘ u ‘ o ^ e p ‘ p¿ t e q d l s ‘ o m [ o q e ^ e m [ k q p¿ e k ^ h r _ e k c p ‘ s ‘ o [ h a ‘ _ ‘ o [ h [ k _ p q [ q ‘ [ c ‘ k ^ e ‘ p … P e ^ q r o ‘ _¾ P o e k ^ ‘ W e h h e [ j S l r k _¿ @ h [ p g [
Slide 25 — §
S ^ l m ‘ [ k _ F H F D j e p p e l k p I k q ‘ k p e q v z F l [ h z F l [ h z P o l c o ‘ p p § § A Y A Y @ N C 5 ( ’ 8 & 7 , 2 1 ^ S E P ^ _ R M ] Q 8 : 8 R \ W b b W ^ ] b W ] c R ] b W c h O h M ] Q 5 ( ’ 8 & 7 , 2 1 O h S a ^ \ Z R e R Z b § M ‘ q d [ k ‘ D j e p p e l k p I k q ‘ k p e q v z F l [ h z P o l c o ‘ p p § 5 ( ’ 8 & 7 , 2 1 ^ S ? B > J \ R c V M ] R R \ W b b W ^ ] b W ] c R ] b W c h O h S a ^ \ Z R e R Z b § E o ‘ p d t [ q ‘ o W e q d _ o [ t [ h I k q ‘ k p e q v z F l [ h z P o l c o ‘ p p § 5 ( ’ 8 & 7 , 2 1 ^ S S a R b V f M c R a f W c V Q a M f M Z W ] c R ] b W c h O h S a ^ \ Z R e R Z b § @ ] p l h r q ‘ S ^ l m ‘ ª B [ q ‘ c l o v F H F D j e p p e l k p z S q [ q r p ’ ( & 5 ( $ 6 ( ^ S E P ^ _ R y 4 M c R U ^ a h 8 : 8 R \ W b b W ^ ] b W a R Z M c W e R c ^ Z R e R Z b V [ h r ‘ B d [ e k R ‘ m l o q e k c H ‘ h m p l r o ] r p e k ‘ p p p q o [ q ‘ c v ^ l k p e _ ‘ o h l k cª q ‘ o j ^ h e j [ q ‘ª o ‘ h j [ o g ‘ q o e p g F V R b d W c R ^ S \ R c a W P b M ] Q c M a U R c b O R Z ^ f V R Z _ b \ R M b d a R _ a ^ U a R b b ^ ] ^ d a I R M b b R b b _ a ^ U a R b b M U M W ] b c c V R b R c M a U R c b M ] ] d M Z Z h M ] Q \ M h a R e W b R c ^ a M b ] R f b ^ d a P R b ^ S W ] S ^ a \ M c W ^ ] O R P ^ \ R M e M W Z M O Z RY A d a _ R a S ^ a \ M ] P R R \ W b b W ^ ] b a R Q d P c W ^ ] b M ] Q b W U ] W S W P M ] c W ] e R b c \ R ] c W ] Z ^ f R a W ] U c V R P M I R V M e R c M Y R ] c V R S ^ Z Z ^ f W ] U M P c W ^ ] b a R Z M c R Q c ^ ^ d a \ R c a W P b[ 6 g c R ] Q R Q M ] Q W ] P a R M b R Q ^ d a E P ^ _ R M ] Q 8 : 8 R \ W b b W ^ ] b W ] c R ] b W c h c M a U R c c ^ M Z R e R Z bY D R P M Z W O a M c R Q ^ d a a R S W ] W ] U e M Z d R P V M W ] E P ^ _ R y 4 M c R U ^ a h \ R c a W P c ^ c a M ] Q M c M W ] Z W R d ^ S M D a R Q d P c W ^ ] c M a U R cY 2 b V W U V Z W U V c R Q ^ ] B M U R b y \ c V W b P V M M b b R c b M ] Q M Z W U ] b f W c V R ] R a U h Q R \ M ] QY B Z R M b R b R R B M U R b y S ^ a a R _ ^ a c W ] UY 3 R U M ] R e M Z d M c W ] U _ ^ c R ] c W M Z M Q X d b c \ R ] c b c ^ ^ d a \ R c V M ] R c M a U R c b M b f R P ^ \ _ Z R \ R M b d a R \ R ] cy W ] S ^ a \ R Q W ] e R ] c ^ a hY B Z R M b R b R R B M U R b y S ^ a \ ^ a R W ] S ^ 4 Z W \ M c Ry D R Z M c R Q ? R c a W P b M ] Q F M a U R c b S e k ^ ‘ ¿ [ ] p l h r q ‘ S ^ l m ‘ ¿ [ k _ ª B [ q ‘ c l o v F H F ‘ j e p p e l k p d [ s ‘ _ ‘ ^ o ‘ [ p ‘ _ ] v j l o ‘ q d [ k j e h h e l k q l k k ‘ p m ‘ o v ‘ [ o… I R d c W Z W j R b R e R a M Z a R _ ^ a c W ] U _ a ^ c ^ P ^ Z b M ] Q U d W Q M ] P R Q ^ P d \ R ] c b c ^ Q R e R Z ^ _ M ] Q P ^ \ _ d c R ^ d a 8 : 8 R \ W b b W ^ ] b M ] Q c M a U R c b\ W ] P Z d Q W ] U[ GY EY 6 B 2m b ? M ] F M a U R c b W ] W c W M c W e R H E 3 F WI\ 8 a R R ] V ^ d b R 8 M b B a ^ c ^ P ^ Z\ M ] Q ; _ W R P Mm b _ R c a ^ Z R d \ W ] Q d b c a h U d W Q R Z W ] R b S ^ a a R _ ^ a c W ] U U a R R ] V ^ d b R U M b R \ W b b W ^ ] bY 3 R \ R c V ^ Q ^ Z ^ U W R b a R Z M c R Q c ^ c V R M O ^ e R \ R c a W P bY F V W b P ^ \ _ a R V R ] b W e R a R e W R f M ] Q M b b d a M ] P R _ a ^ \ ^ c R b M P P d a M c R Q W b P Z ^ b d a R b c V M c M Z W U ] f W c V M P P R _ c R F V R Z M c R b c M b b d a M ] P R b c M c R \ R ] c P M ] O R S ^ d ] Q M c V c c _ b[§§ f f fY \ M a M c V ^ ] _ R c a ^ Z R d \Y P ^ \§ E d b c M W ] M O W Z W c h§ D R _ ^ a c by M ] Qy B ^ Z W P W R b§ Y 2 3 ( 5 $ 7 , 2 1 $ / 7 $ 5 * ( 7 6 D C ‘ p e c k ‘ _ q l o ‘ _ r ^ ‘ q d ‘ e j m [ ^ q l a l r o l m ‘ o [ q e l k p l k q d ‘ ‘ k s e o l k j ‘ k q H MI 5 M c M O R S ^ a R W b W ] P Z d b W e R ^ S S M P W Z W c W R b c V M c ? B 4 Q W Q ] ^ c h R c ^ f ] b ^ c V M c _ R a S ^ a \ M ] P R P M ] O R P ^ \ _ M a R Q M P a ^ b b c V R b M \ R M b b R c O M b R ^ e R a c W \ RY §
Slide 26 — S ^ l m ‘ [ k _ F H F D j e p p e l k p I k q ‘ k p e q v T [ o c ‘ q
@ B H I D V I N F B O N S D B U T I V D Y D @ O E P R O F R D S S @ p d e c d h e c d q ‘ _ e k E e c r o ‘ ¿ t ‘ d [ s ‘ [ ^ d e o ‘ _ r ^ q e l k e k S ^ l m ‘ [ k _ F H F ‘ j e p p e l k p e ^ l j m [ o ‘ _ q l l r o ] [ p ‘ h e k ‘¿ o ‘ m o ‘ p ‘ k q e k v ‘ [ o p l a m o l c o ‘ p p… F e s ‘ k q d [ q t ‘ o ‘ j [ e k l k q o [ ^ g q l j ‘ ‘ q l r o m l a [ § o ‘ _ r ^ q e l k ] v ¿ t ‘ ‘ u q ‘ k _ ‘ _ [ k _ p l r o ^ l j j e q j ‘ k q h [ p q v ‘ [ o ] v p ‘ q q e k c [ k ‘ t q o ‘ _ r ^ q e l k e k F H F ‘ j e p p e l k p e k q ‘ k p e q v ] v S ^ l m ‘ [ k _ F H F D j e p p e l k p I k q ‘ k p e q v T [ o c ‘ q E e c r o ‘ … B l j m [ k v t e _ ‘ S ^ l m ‘ F H F D j e p p e l k p I k q ‘ k p e q v R ‘ _ r ^ q e @ ^ q r [ h F l [ h q o [ f ‘ ^ q l o v I R M a R P ^ \ \ W c c R Q c ^ a R Q d P W ] U c V R P M a O ^ ] S ^ ^ c _ a W ] c f R \ M ] d S M P c d a R\ W \ _ a ^ e W ] U c V R R ] R a U h R S S W P W R ] P h ^ f W c V ^ c V R a b c ^ W \ _ a ^ e R R ] R a U h R S S W P W R ] P h M P a ^ b b c c a M ] b _ ^ a c M c W ^ ] b R P c ^ a bY ; ] \ f R M Q ^ _ c R Q M P ^ \ _ M ] h f W Q R \ M ] d S M P c d a W ] U E P ^ _ R M ] Q W ] c R ] b W c h a R Q d P c W ^ ] c M a U R c ^ S D O R Z ^ f Z R e R Z b O h Y ; ] \ f R R g c R ] \ R c a W P c ^ a R Q d P R ^ d a W ] c R ] b W c h O h D O R Z ^ f Z R e R F V W b \ R c a W P W b P M Z P d Z M c R Q O h M U U a R U M c W ] U c V R E P ^ _ R M ] Q 8 : 8 ^ a U M ] W j M c W ^ ] b M ] Q Q W e W Q W ] U O h c ^ c M Z \ M ] d S M P c d a b W c R b _ a ^ P R b b M f W Q R a M ] U R ^ S W ] _ d c b\ W ] P Z d Q W ] U\ ] M c d a M Z U M b Z W ‘ d W Q b M ] Q a R ] R f M O Z R S R R Q b c ^ P Y b\ f W ] _ d c b ^ ] M P ^ \ \ ^ ] R ] R a U h d ] W c[ O M a a R Z b ^ S ^ W Z R ‘ d W I R M a R S ^ P d b R Q ^ ] P d c c W ] U ^ d a 8 : 8 R \ W b b W ^ ] b c V a ^ d U V 5 a W e W ] U R S S W P W R ] P h c V a ^ d U V ^ d a 7 ^ P d b ^ ] 6 ] R a U h _ F V R M P ‘ d W b W c W ^ ] M ] Q R g _ M ] b W ^ ] ^ S ^ d a ? B > J @ M c d a M Z 8 M b M ] O d b W ] b H e c d h e c d q p l a O r o S ^ l m ‘ [ k _ R ‘ _ r ^ q e l k p E W ] P R \ ^ d a P ^ \ _ M ] h f W Q R E P ^ _ R M ] Q 8 : 8 R \ W b b W ^ ] ^ e R a D ^ ] M ] M O b ^ Z d c R O M b W bY I R V M e R M P V W R e R Q c V P ^ ] b R P d c W e R h R M a\ Q R \ ^ ] b c a M c W ] U c V R a R b W Z W 6 ] R a U h _ a ^ U a M \Y 6 ] R a U h b M e W ] U b V M e R M e ^ W Q R Q c V R R ‘ d W e M Z R ] c ^ S a R b d Z c W ] U W ] b M e W ] U b ^ S ^ e R a \ W Z Z W ^ ] W ] Y F V W b W b a ^ d U V Z h R ‘ d R ] R a U h d b R Q M ] ] d M Z Z h O h ^ e R a \ V ^ \ R b ^ a \ U M b ^ Z W ] Ry _ ^ f _ M b b R ] U R a e R V W P Z R b Y ; ] \ S ^ a M S W S c V P ^ ] b R P d c W e R h R M a\ ? B 4 R M a ] R Q c K R M a | E d b c M W ] R Q 6 g P R Z Z R ] P R M f M a Q S a ^ \ c V R GY EY 7 W e R ? B 4 a R S W ] R a W R b H 2 ] M P ^ a c R b\ I M b V W ] U c ^ ]] 4 M ] D ^ O W ] b ^ ]\ ; Z Z W ] ^ W b] E cY B M d Z B M a Y\ ? W ] ] R b ^ c MI R M 6 @ 6 D 8 K E F 2 D P R a S ^ a a M ] Y W ] U W ] c V R c ^ _ D ^ S b W \ W Z M a S M P W Z W c W R R M a ] R Q \ ^ a R P R a c W S W P M c W ^ ] b c V M ] M Z Z ^ c V R a a R S W B M U R b y S ^ a \ ^ a R W ] S ^ a \ M c W ^ ] ^ ] ^ d a 7 ^ P d b ^ ] 6 ] R a U h W ] W c W M P V W R e R \ R ] c bY ; ] ^ d a ? W Q b c a R M \ ^ _ R a M c W ^ ] b\ ? B > Jm b 3 Z d R b c ^ ] R ] M c d a M Z U M b _ Z O R P M \ R c V R S W a b c S M P W Z W c h W ] c V R GY EY ] M c d a M Z 6 B 2 6 @ 6 D 8 K E F 2 D 4 V M Z Z R ] U R S ^ a ; ] Q d b c a hY A e R a M Z Z\ f R e W R f ^ d a E P ^ _ R M ] Q R \ W b b W ^ ] b W ] c R ] b P Z W \ M c R _ R a S ^ a \ M ] P R\ V R Z _ W ] U d b M b b R b b ^ d a _ a ^ U a R § o ‘ _ r ^ q e l k ª § q l k k ‘ p B O ‘ q d l r p [ k _ ] l ‘ e k m r q
Slide 27 — E l ^ r p l k D k ‘ o c v¾ I j m o l s e k c D k ‘ o c v D a a e ^ e ‘ k ^ v
E l ^ r p l k D k ‘ o c v¾ I j m o l s e k c D k ‘ o c v D a a e ^ e ‘ k ^ v T d ‘ P [ o q k ‘ o l a q d ‘ Y ‘ [ o æ S r p q [ e k ‘ _ D u ^ ‘ h h q d ‘ d e c d ‘ p q h ‘ s ‘ h l a o ‘ ^ l c k e q e l k e k q d ‘ D P S T @ R m o l c o [ j… I k ¿ l k h v [ ] l r q e k _ r p q o e [ h ^ l j m [ k e ‘ p e k q d ‘ U… S… o ‘ ^ ‘ e s ‘ _ q d e p _ ‘ p e q d e p d l k l o¿ ^ l j m [ k e ‘ p j r p q c l [ ] l s ‘ [ k _ ] ‘ v l k ^ o e q ‘ o e [ a l o P [ o q k ‘ o l a q d ‘ Y ‘ [ o o ‘ ^ l c k e q e l _ ‘ j l k p q o [ q e k c ^ l k q e k r l r p e j m o l s ‘ j ‘ k q l s ‘ o q l o c [ k e x [ q e l k t e _ ‘ ‘ k ‘ o c v p [ s e k c p [ k _ ‘ k s e o l m ‘ o a l o j [ k ^ ‘¿ p d l t ^ [ p e k c ] ‘ p q m o [ ^ q e ^ ‘ p¿ [ k m o l j l q e k c q d ‘ D N D R F Y S T @ R m o l c o [ j… W d e h ‘ t ‘ o ‘ ^ l c k e x ‘ q d [ q ^ d [ k c ‘ p j [ v ] ‘ ^ l j e k D N D R F Y S T @ R m o l c o [ j e k ¿ t ‘ d [ _ [ p r ^ ^ ‘ p p a v ‘ [ o e k ¿ o ‘ ^ ‘ e s e k c p ‘ s ‘ o [ h k l q [ ] h ‘ [ t [ o _ 6 ] R a U h R S S W P W R ] P h W b ^ ] R ^ S ^ d a Y R h \ R c a W P b f W c V O ^ c V R ] e W a ^ ] \ R ] c M Z M ] Q S W ] M ] P W M Z O R ] R S W c bY 3 h W Q R ] c W S h W ] U ^ _ _ ^ a c d ] W c W R b c ^ P ^ ] b R a e R R ] R a U h P ^ b c R S S R P c W e R Z h\ f R a R Q d P R ^ d a ^ _ R a M c W ] U P ^ b c b M ] Q a R Q d P R ^ d a R ] e W a ^ ] \ R ] c M Z S ^ ^ c _ a W ] cY ? B 4 V M b M P V W R e R Q b W U ] W S W P M ] c R ] R a U h b M e W ] U b\ 8 : 8 R \ W b b W ^ ] b a R Q d P c W ^ ] b M ] Q P ^ b c b M e W ] U b c V a ^ d U V ^ d a 7 ^ P d b ^ ] 6 ] R a U h H 7 A 6I _ a ^ U a M \Y F V W b _ a ^ U a M \ a R _ a R b R ] c b ^ d a V ^ Z W b c W P M _ _ a ^ M P V c ^ W \ _ a ^ e W ] U R ] R a U h R S S W P W R ] P h M P a ^ b b c V R ^ a U M ] W j M c W ^ ]\ Q a W e W ] U P ^ ] c W ] d ^ d b W \ _ a ^ e R \ R ] c M ] Q a R Q d P W ] U 8 : 8 R \ W b b W ^ ] bY A e R a c V R _ M b c Q R P M Q R\ c V R 7 A 6 _ a ^ U a M \ V M b V R Z _ R Q d b M e ^ W Q c V R R ‘ d W e M Z R ] c ^ S b R e R a M Z O W Z Z W ^ ] 3 c d§ V ^ d a ^ S R ] R a U h d b RY F V a ^ d U V c V R b d P P R b b ^ S ^ d a 7 A 6 _ a ^ U a M \\ ? B 4 f M b a R P ^ U ] W j R Q O h c V R GY EY 6 B 2 S ^ a ^ d a P ^ ] c a W O d c W ^ ] b c ^ O d W Z Q W ] U M ] R ] R a U h R S S W P W R ] P h \ W ] Q b R c f W c V c V R 6 @ 6 D 8 K E F 2 D B M a c ] R a ^ S c V R K R M a | E d b c M W ] R Q 6 g P R Z Z R ] P R 2 f M a QY 6 @ 6 D 8 K E F 2 D W b M e ^ Z d ] c M a h 6 B 2 _ a ^ U a M \ c V M c V R Z _ b W ] Q d b c a h W \ _ a ^ e R R ] R a U h R S S W P W R ] P h M ] Q a R Q d P R R ] e W a ^ ] \ R ] c M Z W \ _ M P cY F V W b V ^ ] ^ a\ ? B 4m b S W S c V P ^ ] b R P d c W e R\ _ Z M P R b d b M \ ^ ] U M Q W b c W ] U d W b V R Q U a ^ d _ ^ S W ] Q d b c a h Z R M Q R a bY 2 b M P c W e R _ M a c W P W _ M ] c b W ] c V R _ a ^ U a M \\ ^ d a S M P W Z W c W R b P ^ ] c W ] d M Z Z h S ^ P d b ^ ] W Q R ] c W S h W ] U f M h b c ^ a R R ] R a U h P ^ ] b d \ _ c W ^ ] M ] Q b V ^ f P M b R ^ d a b c a M c R U W R b M ] Q b V M a R W ] b W U V c b f W c V _ R R a b M P a ^ b b c V R W ] Q d b c a h c ^ b d _ _ ^ a c ^ c V R a b W ] a R M P V W ] U c V R W a R ] R a U h R S S W P W R ] P h U ^ M Z bY 5 ( ) , 1 , 1 * ( 1 ( 5 * < ( ) ) , & , ( 1 & < I W c V 7 A 6 _ a ^ U a M \ b W ] _ Z M P R M c M Z Z ^ S ^ d a a R S W ] R a W R b\ f R V M e R R g _ M ] Q R Q c V R b R R S S ^ a c b c ^ W ] P Z d Q R ^ d a a R ] R f M O Z R S d R Z b S M P W Z W c W R b Y ; ] \ Y R h _ R a S ^ a \ M ] P R W ] Q W P M c ^ a b H = B ; bI f R a R Q R e R Z ^ _ R Q S ^ a c V R 5 W P Y W ] b ^ ] D R ] R f M O Z R 7 d R Z b S M P W Z W c h M ] Q W ] W c W M Z W \ _ Z R \ R ] c M c W ^ ] O R U M ] M c c V R ? M a c W ] R j D R ] R f M O Z R b S M P W Z W c hY I R P ^ ] Q d P c Q R R _y Q W e R b c d Q W R b c ^ O R ] P V \ M a Y ^ d a a R S W ] R a W R b M U M W ] b c W ] Q d b c a h _ R R a b\ \ M W ] c M W ] = B ; b c V a ^ d U V ^ d a 7 A 6 _ a ^ U a M \\ M ] Q d b R M ] R ] R a U h a ^ M Q \ M _ f W c V Z ^ ] Uy c R a \ _ R a S ^ a \ M ] P R U ^ M Z b c ^ U d W Q R ^ d a R ] R a U h R S S W P W R ] P h R S S ^ a c bY 2 Q Q W c W ^ ] M Z Z h\ f R M a R R \ O a M P W ] U Q W U W c M Z c R P V ] ^ Z ^ U W R b M ] Q P ^ ] c W ] d M R e M Z d M c W ] U \ ^ a R R S S W P W R ] c b ^ Z d c W ^ ] bY ; ] ^ d a W ] Q d b c a h\ R ] R a U h R S S W P W R ] P h W b P ^ ] b c M ] c Z h M Q e M ] P W ] U\ b ^ a R \ M W ] P ^ \ \ W c c R Q c ^ W ] ] ^ e M c W ^ ] M ] Q P ^ ] c W ] d ^ d b W \ _ a ^ e R \ R ] cY E e c r o ‘ … B r j r h [ q e s ‘ B l r k q l a U… S… D P @ D N D R F Y S T @ R B ‘ o q e a e ^ [ q e l k p @ t [ o _ ‘ _ q l R ‘ a e k ‘ o e ‘ p « [‹ P e ^ q r o ‘ _¾ M P B o ‘ a e k ‘ o v e k @ k [ ^ l o q ‘ p¿ W [ p d e k c q l k H MI F V a ^ d U V P R a c W S W P M c W ^ ] h R M aY
Slide 28 — F [ o v s e h h ‘ R ‘ a e k ‘ o v
S q o [ q ‘ c e ‘ p q l I j m o l s ‘ D k ‘ o c v D a a e ^ e ‘ k ^ v 6 ] R a U h _ R a S ^ a \ M ] P R b c M ] Q M a Q b[ 6 b c M O Z W b V b c M ] Q M a Q b S ^ a R R ] P ^ d a M U R c V R M Q ^ _ c W ^ ] ^ S \ ^ a R R S S W P W R ] c c R P 6 ] R a U h \ M ] M U R \ R ] c b h b c R \ b[ ? ^ ] W c ^ a R ] R a U h P ^ ] b d \ _ c W ^ ]\ W W ] R S S W P W R ] P W R b\ M ] Q W \ _ Z R \ R ] c \ R M b d a R b c ^ V R 5 M c M P ^ Z Z R P c W ^ ] M ] Q M ] M Z h b W b[ 4 ^ Z Z R P c M ] Q M ] M Z h j R Q M c M ^ ] _ M c c R a ] b c ^ W Q R ] c W S h _ ^ c R ] c W M Z W \ _ a ^ e R \ R ] c b M W ] W c W M c W e R bY A _ R a M c ^ a M f M a R ] R b b M ] Q c a M W ] W ] U[ F a M W ] ^ _ R a M c ^ a b c ^ W Q R ] c W R ] R a U h W ] R S S W P W R ] P W R b c ^ V R Z _ W \ _ a ^ e R R ] R a U ? M W ] c R ] M ] P R[ ; \ _ Z R \ R ] c _ a ^ U a M \ b Q R b W U ] R Q c ^ V R Z _ R R S S W P W R ] c Z h Y 5 W U W c W j M c W ^ ][ ? W U a M c R c ^ M ] Q R ] V M ] P R Q M c M \ M ] M U R \ R ‘ d M Z W c h M ] Q R ] M O Z R ^ _ R a M c W ^ ] M Z ^ _ c W \ W j M c W ^ S P O T L I F H T O N F [ o v s e h h ‘ R ‘ a e k ‘ o v T d ‘ o ‘ a e k ‘ o v p q ‘ [ j ^ d [ h h ‘ k c ‘ t [ p o ‘ [ p l k ‘ l a D P @× p T l m P o l f ‘ ^ q p e e k _ r p q o e [ h p ‘ ^ q l o [ q q d ‘ [ k k r [ h D N I k _ r p q o e [ h P [ o q k ‘ o M ‘ ‘ q e k c… I k ¿ q d ‘ F [ o v s e h h ‘ o ‘ a e k ‘ o v ^ d [ h h ‘ k c ‘ _ e q p ‘ h a c ‘ k ‘ o [ q e l k ] v ¿ m l r k _ p m ‘ o d l r o… T d ‘ F [ o v s e q d ‘ ‘ u m ‘ ^ q [ q e l k p l a q d e p m o l f ‘ ^ q ] v o ‘ ^ l s ‘ o e k c l a p q ‘ [ j… T d e p [ j l r k q p q l j l o ‘ q d [ k ð j e h h e l k e k [ k _ l s ‘ o ¿ q l k k ‘ p l a ^ [ o ] l k _ e l u e _ ‘ª ‘ n r e s [ h ‘ k q o ‘ _ r ^ q e l k p m ‘ o v ‘ [ o… D u [ j m h ‘ p l a q d e p p r ^ ^ ‘ p p e k ^ h r _ ‘¾ A _ c W \ W j M c W ^ ][ ; \ _ a ^ e R Q _ a ^ P R b b d ] W c ^ _ R a M c W ] U c a W U V c b W j R Q R ‘ d W _ \ R ] cY ? M W ] c R ] M ] P R[ ; ] P a R M b R Q f M b c Ry V R M c b c R M \ U R ] R d ] W c V R M c R a P ^ ] e R P c W ^ ] b h b c R \ M ] Q a R _ M W a E ^ d a P R a R P ^ e R a h[ 2 Q X d b c R Q _ a ^ P R b b d ] W c e M Z e R b c b c R M \Y T d ‘ p r ^ ^ ‘ p p l a q d e p e k e q e [ q e s ‘ t [ p _ o e s ‘ k ] v e q p ‘ _ r ^ [ q e l k [ k _ [ ^ q e s ‘ ‘ k c [ c ‘ j ‘ k q q l ^ o ‘ [ q ‘ [ ^ l h h [ ] p r m m l o q e s ‘ ‘ k s e o l k j ‘ k q t d ‘ o ‘ [ h h ^ l k q o e ] r q e l k p [ ^ l k s ‘ v e k c q d ‘ m o e k ^ e m h ‘ p l a R ‘ a e k e k c× p E O D m o m ‘ o a l o j [ k ^ ‘ e k _ e ^ [ q l o p¿ m o l c o [ j m [ o q e ^ e m [ k q p [ ^ r k _ ‘ o p q l l _ d l t p [ s e k c p a o l j ‘ k ‘ o c v ‘ a a e ^ e ‘ k ^ v [ o ‘ q d ‘ ‘ k s e o l k j ‘ k q [ k _ c l l _ a l o ] r p e k ‘ p p… W e q d q d e l m ‘ o [ q l o p r k _ ‘ o p q l l _ q d ‘ ^ d [ h h ‘ k c ‘ [ k _ o l p ‘ q l j ‘ A v m o l j l q e k c ] ‘ p q m o [ ^ q e ^ ‘ p [ k _ ‘ k ^ l r o [ c e k c k ‘ t o ‘ a e k ‘ o v ^ l k q e k r ‘ p ] r e h _ e k c r m l k ‘ a a l o q p q d [ q d [ o ‘ j [ e k l k ‘ l a q d ‘ j l p q ‘ k ‘ o c v ‘ a a e ^ e ‘ k q o ‘ a e k ‘ o e ‘ p d [ s e k c ] ‘ ‘ k D N D R F Y S T @ R ^ ‘ o q e a e ‘ _ a l o ^ l k p ‘ P e ^ q r o ‘ _¾ M P B o ‘ a e k ‘ o v e k F [ o v s e h h ‘¿ L l r e p e [ k [
Slide 29 — T U R N I N F I N S I F H T S I N T O @ B T I O N
0 , ’ 6 7 5 ( $ 0 ( 1 ( 5 * < ( ) ) , & , ( 1 & < F ^ O d W Z Q d _ ^ ] c V R b d P P R b b ^ S ^ d a a R S W ] R a hy b _ R P W S W P 7 A 6 _ a ^ U a M \\ ? B 4 V M b R g _ M ] Q R Q 7 A 6 W ] W c W M c W e R b c ^ W ] P Z d Q R _ a ^ U a M \ b P d a a R ] c Z h d ] Q R a f M h M c e M a W ^ d b ? B > J S M P W Z W c W R bY S e c k e a e ^ [ k q M e _ p q o ‘ [ j D k ‘ o c v W e k p 2 b _ M a c ^ S c V R 6 @ 6 D 8 K E F 2 D _ a ^ U a M \\ c V R 6 B 2 Z M d ] P V R Q c V R 6 @ 6 D 8 K E F 2 D 4 V M Z Z R ] U R S ^ a ; ] Q d b c a h W ] c ^ R ] P ^ d a M U R \ M ] d S M P c d a W ] U _ Z M ] c b c ^ a R Q d P R 8 : 8 R \ W b b W ^ ] b\ U R ] R a M c R \ ^ \ R ] c d \ S ^ a R ] R a U h b M e W ] U b\ R b c M O Z W b V b ^ d ] Q R ] R a U h \ M ] M U R \ R ] c _ a M P c W P R b\ W ] P a R M b R c V R e W b W O W Z W c h ^ S R ] R a U h \ M ] M U R \ R ] c R S S ^ a c b\ M ] Q \ ^ c W e M c R R \ _ Z ^ h R R b c ^ b d _ _ ^ a c R ] R a U h W ] W c W M c W e R bY D R P ^ U ] W j W ] U c V R _ ^ c R ] c W M Z O R ] R S W c b S ^ a c V R P ^ \ _ M ] h\ W c b P d b c ^ \ R a b\ M ] Q c V R _ d O Z W P\ ? B > J \ M a Y R Q M ] W ] Q d b c a h S W a b c O h R ] c R a W ] U c V R 6 @ 6 D 8 K E F 2 D 4 V M Z Z R ] U R S ^ a ; ] Q d b c a h W ] Z M c R Y A h r ‘ p q l k ‘ F [ p P o l ^ ‘ p p e k c E [ ^ e h e q v A d a 3 Z d R b c ^ ] R ] M c d a M Z U M b _ Z M ] c W ] B R ] ] b h Z e M ] W M W b c V R S W a b c M ] Q ^ ] Z h S M P W Z W c h W ] c V R GY EY ] M c d a M Z U M b _ a ^ P R b b W ] U b R P c ^ a c ^ M P V W R e R c V R 6 B 2m b 6 @ 6 D 8 K E F 2 D 4 V M Z Z R ] U R S ^ a ; ] Q d b c a hY 2 D Q R P a R M b R W ] R ] R a U h W ] c R ] b W c h W b a R ‘ d W a R Q f W c V W ] S W e R h R M a b M b _ M a c ^ S c V W b P V M Z Z R ] U RY 3 Z d R b c ^ ] R R g P R R Q R Q c V W b a R ‘ d W a R \ R ] c\ b d P P R b b S d Z Z h M P V W R e W ] U c V R \ W Z R b c ^ ] R f R Z Z M V R M Q ^ S b P V R Q d Z R Y 2 b M a R b d Z c ^ S c V W b M P P ^ \ _ Z W b V \ R ] c\ 3 Z d R b c ^ ] R V ^ b c R Q M ] 6 @ 6 D 8 K E F 2 D ; ] Q d b c a W M Z E V ^ f P M b R W ] A P c ^ O R a c ^ b V M a R c V R O R ] R S W c b ^ S W \ _ Z R \ R ] c W ] U M ] R ] R a U h _ a ^ U a M \\ V W U V Z W U V c W c b _ a ^ U a R b b M ] Q \ W Z R b c ^ ] R b M P V W R e R Q\ M ] Q _ a ^ e W Q R W ] b W U V c b c ^ b c M Y R V ^ Z Q R a b\ Z R U W b Z M c ^ a b\ M ] Q a R _ a R b R ] c M c W e R b ^ S ^ c V R a W ] Q d b c a W R bY 7 d a c V R a \ ^ a R\ f R _ a R b R ] c R Q Q R c M W Z b ^ S ^ d a R ] R a U h _ a ^ U a M \ M c c V R 8 M b B a ^ P R b b ^ a b 2 b b ^ P W M c W ^ ] ? W Q b c a R M \ 4 ^ ] S R a R ] P R\ f V W P V U R ] R a M c R Q Q W b P d b b W ^ ] b f W c V \ d Z c W _ Z R W ] Q d b c a h _ R R a P ^ \ _ M ] W R b M ] Q Z R Q c ^ S d a c V R a W Q R M b V M a W ] U S ^ a R ] R a U h R S S W P W R ] P h W \ _ a ^ e R \ R ] c bY D u m [ k _ e k c q d ‘ I j m [ ^ q = R h Z R b b ^ ] b Z R M a ] R Q M c 3 Z d R b c ^ ] R M a R ] ^ f O R W ] U M _ _ Z W R Q M c c f ^ M Q Q W c W ^ ] M Z ? B > J U M b _ a ^ P R b b W ] U S M P W Z W c W R b c V M c V M e R R ] c R a R Q c V R 6 @ 6 D 8 K E F 2 D 4 V M Z Z R ] U R[ : ^ d b c ^ ]\ B R ] ] b h Z e M ] W M[ F V R Z M a U R b c U M b _ a ^ P R b b W ] U S M P W Z W c h W ] B R ] ] b h Z e M ] W M E V R a f ^ ^ Q\ I R b c H W a U W ] W M[ F V R Z M a U R b c U M b _ a ^ P R b b W ] U S M P W Z W c h W ] c V R GY EY 2 b ^ d a 7 A 6 _ a ^ U a M \ O R P ^ \ R b \ ^ a R R b c M O Z W b V R Q f W c V W ] ^ d a \ W Q b c a R M \ ^ _ R a M c W ^ ] b\ f R P ^ ] c W ] d R c ^ R e M Z d M c R ^ _ _ ^ a c d ] W c W R b c ^ R g _ M ] Q W c c ^ M Q Q W c W ^ ] M Z S M P W Z W c W R b\ S d a c V R a a R Q d P W ] U P ^ \ _ M ] h f W Q R R ] R a U h d b RY T U R N I N F I N S I F H T S I N T O @ B T I O N W ‘ [ o ‘ [ _ s [ k ^ e k c ‘ k ‘ o c v ‘ a a e ^ e ‘ k ^ v [ q l r o H l r p q S d ‘ o t l l _ c [ p m o l ^ ‘ p p e k c a [ ^ e h e q e ‘ p q d o l r c d q d ‘ e k e q e [ q e s ‘ p¾ î I k p q [ h h e k c [ _ s [ k ^ ‘ _ m o l ^ ‘ p p ^ l k q o l h p î I j m h ‘ j ‘ k q e k c ‘ u m [ k _ ‘ o r m c o [ _ ‘ p q l o ‘ _ r ^ ‘ ‘ h ‘ ^ q o e ^ [ [ k _ e j m o l s ‘ o ‘ ^ l s ‘ o e ‘ p î I _ ‘ k q e a v e k c r k _ ‘ o r q e h e x ‘ _ p v p q ‘ j p [ k _ p d r q q e k c q d î @ m m h v e k c l m ‘ o [ q e l k [ h ^ d [ k c ‘ p q l p d l o q ‘ k d ‘ [ q e k c î B l k q e k r [ h h v _ ‘ s ‘ h l m e k c [ k _ [ p p ‘ p p e k c m o l f ‘ ^ q p [ e j ‘ k ‘ o c v ^ l k p r j m q e l k î C o e s e k c [ h e c k j ‘ k q q d o l r c d l k c l e k c j l k q d h v m ‘ o a l o j [ P e ^ q r o ‘ _¾ A h r ‘ p q l k ‘ k [ q r o [ h c [ p m o l ^ ‘ p p e k c m h [ k q
Slide 30 — R ‘ a e k e k c S ^ l m ‘ F H F D j e p p e l k p
R ‘ a e k e k c S ^ l m ‘ F H F D j e p p e l k p ; ] 7 R O a d M a h ^ S \ f R R b c M O Z W b V R Q M D M O b ^ Z d c R a R Q d P y 4 M c R U ^ a R \ W b b W ^ ] b O h \ M b b ^ P W M c R Q f W c V c V R _ a ^ Q d P c b _ a ^ Q d P R f R V M e R a R Q d P R Q \ O M a a R Z b _ R a Q M h ^ S P a d Q R ^ W Z a R S ^ ] R _ R c a ^ Z R d \ a R S W ] R a h M ] Q a R _ d a _ ^ b W ] U c f ^ ^ c V R a a R S W ] R f V W P V V R Z _ b a R Q d P R U a R R ] V ^ d b R U M b R \ W b b W ^ ] b W ] V M a Q \ R M b d a R b M a R c V R _ a W \ M a h a R M b ^ ] ^ d a a R S W ] W ] U e M Z d R P V R \ W b b W ^ ] b V M e O R R ] a R Q d P R Q O h D S a ^ \ c V R O M b R Z W ] R H 7 W U d a R IY F a R ‘ d W a R M P ^ \ O W ] M c W ^ ] ^ S \ R M b d a R b\ W ] P Z d Q W ] U S d a c V R a ^ a c a M ] b W c W ^ ] c ^ Z ^ f R a P M a O ^ ] W ] c R ] b W c h _ a ^ Q d P c b\ b d P V M c V R c W \ R f R R b c M O Z W b V R Q ^ d a c M a U R c\ c V R b R \ R M b d a R b M Z b d _ _ ^ a c R Q O h b c M c R\ S R Q R a M Z M ] Q W ] c R a ] M c W ^ ] M Z R ] R a U h b ^ d a P R b\ W ] P Z d Q W ] U c V R ; 6 2Y ; ] ^ d a a R P R ] c a R _ ^ a c b\ f R V M e R V W U V Z W U V c R Q b R e R a M Z S M E P ^ _ R y 4 M c R U ^ a h R \ W b b W ^ ] b\ W ] P Z d Q W ] U[ D d b b W Mm b W ] e M b W ^ ] ^ S G Y a M W ] R b _ M a Y R Q M U Z ^ O M Z R ] R Z M ] Q b P M _ R\ P M d b W ] U \ M ] h U ^ e R a ] \ R ] c b c ^ _ a W ^ a W c W j R R ] R a R b _ ^ ] b R\ GY EY a R S W ] R Q _ a ^ Q d P c R g _ ^ a c b V M e R a R M P V R Q 3 M b R Q d _ ^ ] b R e R a M Z P ^ ] b W Q R a M c W ^ ] b\ W ] P Z d Q W ] U b V M a R W ] P Z d Q R c V R M e ^ W Q R Q 8 : 8 R \ W b b W ^ ] b M b b ^ P W M c R Q f W c V a R ] R f M O Z R S d R Z b c ^ f M a Q b c V R c M a U R cY E R e R a M Z ^ S ^ d a b 8 : 8 R \ W b b W ^ ] b a R _ a R b R ] c E P ^ _ R R \ W b b W ^ ] a R Q d P c W ^ ] b\ f V ^ d c b W Q R M P ^ \ _ M ] hm b e M Z d R P V M W ] Q d R c ^ c V R d b R ^ S W c c ^ f M a Q c V R E P ^ _ R c M a U R cY A d a M ] ] d M Z _ a ^ Q d P c W ^ ] M ] Q O Z R ] Q W ] U ^ S M _ _ a ^ g W \ M c R Z h Y O W Z Z U M Z Z ^ ] b ^ S Z W ‘ d W Q a R ] R f M O Z R S d R Z b a R b d Z c W ] M ] R b c W \ M c R R ‘ d W e M Z R ] c c ^ M _ _ a ^ g W \ M c R Z h D ^ S c V R O M b R Z W ] R E F V R U Z ^ O M Z a R S W ] W ] U b R P c ^ a P ^ ] c W ] d R b c ^ c a M ] b S ^ a \\ Q a _ ^ Z W P h\ M ] Q P V M ] U W ] U Q R \ M ] Q _ M c c R a ] bY D R S W ] R Q _ a ^ Q M ] Q Z R b by P ^ \ _ R c W c W e R a R S W ] R a W R b M a R c h _ W P M Z Z h c V R R ] R a U h c a M ] b W c W ^ ]Y I R V M e R _ d O Z W P Z h b c M c R Q ^ d a U ^ M Z ^ S O R P ^ \ W ] U c V R \ ^ b c ^ _ R a M c ^ a W ] R M P V a R U W ^ ] W ] f V W P V f R ^ _ R a M c RY I R M a R \ d Z c W _ Z R b c a M c R U W P P ^ \ \ W c \ R ] c b\ W ] P Z d Q W ] U b M S R M ] Q a \ ^ Q R Z c ^ f M a Q e M Z d R P V M W ] ^ _ c W \ W j M c W ^ ]\ M ] Q W \ _ Z R \ R ] c 2 b Q W b P d b b R Q ^ ] B M U R b y \ ^ d a a R S W ] W ] U M b b R c b M a R P ^ \ _ R e R ] W ] M Z ^ f R ay P M a O ^ ] R P ^ ] ^ \ hY D R S Z R P c W ] U\ W ] _ M a c\ c a R S W ] W ] U b R P c ^ a M ] Q ^ d a a R S W ] W ] U M b b R c b\ M ] d \ O R a ^ S M ] ] ^ d ] P R Q _ Z M ] b c ^ R W c V R a b V d c c R a ^ _ R a M c W ^ ] b ^ a a R Q d P a R _ a R b R ] c W ] U ] R M a Z h \ W Z Z W ^ ] O M a a R Z b _ R a Q M h ^ S P a d Q c V R a R U W ^ ] b f V R a R f R ^ _ R a M c RYT E e c r o ‘ … F h l ] [ h O e h S r m m h v R ‘ s W D O ¾ § o ‘ _ r ^ q e l k o ‘ h [ q e s ‘ q l W D O ¾ § o ‘ _ r ^ q e l k o ‘ h [ q e s ‘ q l T 2 ] ] ^ d ] P R Q P M _ M P W c h a R Q d P c W ^ ] b[ : ^ d b c ^ ]\ F R g M b H \ O _ QI] I R b b R Z W ] U\ 8 R a \ M ] h H \ O _ QI] 3 R ] W P W M\ 4 M Z W S ^ a ] W M H \ O _ QI] 8 a M ] U R \ ^ d c V\ E P ^ c Z M ] Q H \ O _ QI] > ^ b 2 ] U R Z R b\ 4 M Z W S ^ a ] W M H \ O _ QI] M ] Q 8 R Z b R ] Y W a P V R ]\ 8 R a \ M ] h H \ O _ QIY 2 U U a R U M c R Q P M _ M P W c h W b R b c W \ M c R Q d b W ] U b W c R P M _ M P W c W R b M b _ d O Z W b V R Q W ] a R b _ R P c W e R P ^ \ _ M ] W R bm 7 ^ a \ y = S W Z W ] U bY ª § S e k ^ ‘ ¿ c h l ] [ h l e h p r m m h v d [ p ^ l k q e k E l o q d ‘ a l r o q d ^ l k p ‘ ^ r q e s ‘ v ‘ [ o¿ q d ‘ I D @ l e h p r m m h v o ‘ _ r ^ q e l k p ] v e k q d ‘ e o N T d ‘ p ‘ o ‘ m ‘ [ q ‘ _ o ‘ s e p e l k p d e c d h e c d q [ p h ‘ u m ‘ ^ q ‘ _ m [ ^ ‘ e k q d ‘ c h l ] [ h ‘ k ‘ o c v q o [ k p j e h h e l k q l k k ‘ p B O ‘ E e c r o ‘ … R ‘ a e k e k c S ^ l m ‘ ª B [ q ‘ c l o v 5 M c M b ^ d a P R b[ ; 6 2\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y ] ; 6 2 \ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y Y
Slide 31 — F R D D N H O U S D F @ S D M I S S I O N S
ª § ª § ª § A e R a c V R Z M b c b R e R a M Z h R M a b\ f R R e M Z d M c R Q \ d Z c W _ Z R _ b V W S c R Q U M b ^ Z W ] R O Z R ] Q P ^ \ _ ^ ] R ] c b c ^ _ R c a ^ P V R \ W P M Z S f ^ d Z Q a R b d Z Z ^ f R a E P ^ _ R y 4 M c R U ^ a h R \ W b b W ^ ] b\ M b _ R c a ^ P V R \ W P M P ^ \ O d b c R Q W ] c V R W a R ] Q d b RY : ^ f R e R a\ f R Q R P W Q R Q ] ^ c c c R a \ Q d R c ^ c V R S ^ a R P M b c _ a ^ Z ^ ] U R Q Q ^ f ] P h P Z R W ] c V R _ b W U ] W S W P M ] c ^ e R a O d W Z Q ^ S P M _ M P W c h\ _ M a c W P d Z M a Z h W e M Z d R P V M W ] a R \ M W ] b M b c a M c R U W P ^ _ c W ^ ]\ O d c f R Q ^ ] ^ f ^ d Z Q W \ _ M P c E P ^ _ R y 4 M c R U ^ a h R \ W b b W ^ ] b ^ S ^ d a a R S F V R ^ e R a M Z Z _ M P R ^ S R ] R a U h R e ^ Z d c W ^ ] V M b b Z ^ f R Q P ^ \ _ M f R R b c M O Z W b V R Q ^ d a c M a U R cY 2 b b V ^ f ] W ] 7 W U d a R b M ] Q \ c V W b W b R e W Q R ] P R Q \ M Q R O h ^ S c V R ; 6 2 M ] Q ^ c V R a M U R ] P W R b\ f V W P V V M e R P ^ Q R \ M ] Q S ^ a R P M b c b d _ f M a Q W ] R M P V ^ S c V R _ M b c c V a R R h R 7 ^ a c V R b R a R M b ^ ] b\ f R Q ^ ] ^ c O R Z W R e R c V M c M D a R Q d P c W R \ W b b W ^ ] b W b M P V W R e M O Z R O h c V R R ] Q ^ S Y I R R e M Z d M W ] P Z d Q W ] U R g c R ] Q W ] U O R h ^ ] Q ^ a M Q X d b c W ] U c V R c M a U M O ^ e RY : ^ f R e R a\ Q d R c ^ ^ ] U ^ W ] U d ] P R a c M W ] c W R b b d a a ^ d ] Q W f R M a R c a M ] b W c W ^ ] W ] U c ^ M \ ^ ] W c ^ ay M ] Qy Q W b P Z ^ b R S a M \ R c ^ a R _ ^ a c M O b ^ Z d c R E P ^ _ R y 4 M c R U ^ a h 8 : 8 R \ W b b W ^ ] b ^ e I V W Z R f R P ^ ] c W ] d R c ^ _ a ^ e W Q R c a M ] b _ M a R ] P h M a ^ d ] Q ^ d a a R R \ W b b W ^ ] b\ f R a R \ M W ] S W a \ Z h P ^ \ \ W c c R Q c ^ a R Q d P W ] U ^ d S d Z Z h f W c V W ] ^ d a P ^ ] c a ^ Z\ c V a ^ d U V ^ d a 7 ^ P d b ^ ] 6 ] R a U h _ a ^ M P V W R e W ] U M D a R Q d P c W ^ ] W ] E P ^ _ R M ] Q 8 : 8 R \ W b b W ^ ^ d a Q R Q W P M c W ^ ] c ^ R ] e W a ^ ] \ R ] c M Z b c R f M a Q b V W _ M ] Q ^ _ R a M \ R M ] W ] U S d Z 8 : 8 R \ W b b W ^ ] b a R Q d P c W ^ ] b S a ^ \ ^ d a ^ _ R a M c W ^ ] b R ] R a U h Q R \ M ] Q b M ] Q b d _ _ ^ a c R ] R a U h b R P d a W c hY F R D D N H O U S D F @ S D M I S S I O N S I k ¿ [ ] p l h r q ‘ S ^ l m ‘ ¿ ¿ [ k _ ª B [ q ‘ c l o v F _ ‘ ^ o ‘ [ p ‘ _ ] v j l o ‘ q d [ k j e h h e l k q l k k ‘ p o ‘ h [ q e s î O r o ‘ a a l o q p q l e j m o l s ‘ l m ‘ o [ q e l k [ h ‘ a a e ^ e ‘ k ^ v h ‘ _ q l [ § o ‘ _ r ^ q e l k e k l r o ^ l j m [ k v t e _ ‘ j [ k r a [ k _ F H F ‘ j e p p e l k p e k q ‘ k p e q v ^ l j m [ o ‘ _ q l l r o j [ o g e k c ^ l k p ‘ ^ r q e s ‘ v ‘ [ o p l a j ‘ [ p r o [ ] h ‘ m o l c î R ‘ a e k e k c S ^ l m ‘ ª B [ q ‘ c l o v ‘ j e p p e l k p d [ s ‘ _ [ m m o l u e j [ q ‘ h v § ^ l j m [ o ‘ _ q l h ‘ s ‘ h p… N l q [ k q e ^ e m [ q ‘ _ q l l ^ ^ r o ] v P e ^ q r o ‘ _¾ M P B o ‘ a e k ‘ o v e k @ k [ ^ l o q ‘ p¿ W [ p d e k c q l k N l q [ m m h e ‘ _¿ ^ h [ p p e a e ‘ _ [ p S ^ l m ‘ j e h h e l k q l k k ‘ p B O ‘
Slide 32 — M ‘ q d [ k ‘ I k q ‘ k p e q v
M ‘ q d [ k ‘ I k q ‘ k p e q v ) 2 & 8 6 2 1 0 ( 7 + $ 1 ( 3 5 2 * 5 $ 0 F V R _ a ^ P R b b W ] U M ] Q c a M ] b _ ^ a c W ] U ^ S \ R c V M ] R\ c V R \ M W ] P ^ \ _ ^ ] R ] c ^ S ] M c d a M Z U M b\ M a R e W c M Z S ^ a \ R R c W ] U R ] R a U h ] R R Q bY : ^ f R e R a\ f V R ] \ R c V M ] R W b R \ W c c R Q c ^ c V R M c \ ^ b _ V R a R\ W c V M b M U Z ^ O M Z f M a \ W ] U _ ^ c R ] c W M Z U a R M c R a c V M ] c V M c ^ S P M a O ^ ] Q W ^ g W Q R\ M Z O R W c f W c V M b V ^ a c R a Z W S R b _ M ]Y 8 W e R ] c V R R ] e W a ^ ] \ R ] c M Z W \ _ R \ W b b W ^ ] b\ M b f R Z Z M b c V R c V a ^ d U V _ d c U M W ] b M P V W R e R Q O h \ W ] W \ W j W ] U Z R M Y M U R b\ P ^ \ _ M ] W R b M P a ^ b b c V M a R W ] P a R M b W ] U Z h _ a W ^ a W c W j W ] U R S S ^ a c b c ^ a R Q d P R c V R \Y F V R b R P ^ \ _ Z R \ R ] c M a h \ R M b d a R b P d a O \ R c V M ] R R \ M ] Q R ] V M ] P R b h b c R \ R S S W P W R ] P h\ V R Z _ W ] U c ^ P ^ ] c a W O d c R c ^ M Z ^ f R ay P M a O ^ ] W ] c R ] b W e R ] M c d a M Z U M b e M Z d 0 3 / ; ) 2 & 8 6 $ 5 ( $ 6 ) 2 5 0 ( 7 + $ 1 ( 0 $ 1 $ * ( 0 ( 1 7 R ‘ _ r ^ q e l k p [ ^ d e ‘ s ‘ _ p e k ^ ‘ « q l k k ‘ p m ‘ o v ‘ [ o‹ M [ e k q ‘ k [ k ^ ‘ V ‘ k q e k c [ k _ O q d ‘ o B l k q o l h p I R M a R ^ _ c W \ W j W ] U \ M W ] c R ] M ] P R e R ] c W ] U c ^ a R Q d P R R \ W b b W ^ ] b U ^ W ] U c ^ c V R M c \ ^ b _ V R a R\ W ] P Z d Q W ] U d b W ] U e M _ ^ a a R P ^ e R a h d ] W c b H H D G bI M ] Q _ ^ a c M O Z R S Z M a R bY 2 Q Q W c W ^ ] M Z Z h\ ] R f Z h P ^ ] b c a d P c R Q b h b c R \ b M a R Q R b W U ] R Q f W c V Z ^ f R a _ ^ c R ] c W M Z S ^ a \ R c V M ] R R \ W b b W ^ ] bY ¿ P k ‘ r j [ q e ^ C ‘ s e ^ ‘ p I R M a R _ V M b W ] U ^ d c V W U Vy O Z R R Q _ ] R d \ M c W P P ^ ] c a ^ Z Z R a b M c ^ d a P ^ \ _ a R b b ^ a b c M c W ^ ] bY ¿ L ‘ [ g C ‘ q ‘ ^ q e l k [ k _ R ‘ m [ e o « L C @ R‹ I R M Q ^ _ c R Q M ] R ] V M ] P R Q > 5 2 D _ a ^ U a M \ M c ^ d a U M b _ a ^ P R b b W ] U M ] Q S a M P c W ^ ] M c W ^ ] _ Z M ] c b c ^ a R Q d P R S d U W c W e R \ R c V M ] R R \ W b b W ^ ] b W ] c R ] b W c hY ¿ P e m ‘ h e k ‘ L [ r k ^ d ‘ o p [ k _ R ‘ ^ ‘ e s ‘ o p I R Q R b W U ] R Q _ W _ R Z W ] R Z M d ] P V R a M ] Q a R P R W e R a b c M c W ^ ] b c ^ a R Q d P R \ R c V M ] R M ] Q e ^ Z M c W Z R ^ a U M ] W P P ^ \ _ ^ d ] Q R \ W b b W ^ ] b O h M b \ d P V M b D R M P V c W \ R c V R h M a R ^ _ R ] R Q M b _ M a c ^ S a R ‘ d W a R Q ^ _ R a M c W ^ ]Y ? ^ a R W ] S ^ a \ M c W ^ ] P M ] O R S ^ d ] Q M c[ V c c _ b[§§ f f fY \ _ Z gY P ^ \§ B W _ R Z W ] Ry > M d ] P V R a D R P R W e R ay 6 \ W b b W ^ ] by D R Q d P c W ^ ]y E h b c R \ b§Y ¿ R ‘ ^ e m o l ^ [ q e k c B l j m o ‘ p p l o p « [‹ I R M a R W ] b c M Z Z W ] U Z ^ fy R \ W b b W ^ ] b H Z ^ fy RI _ M P Y W ] U \ M c R a W M Z M ] Q \ R M b d a R \ R ] c _ ^ a c b ^ ] ^ d a a R P W _ a ^ P M c W ] U P ^ \ _ a R b b ^ a bY D ^ Q _ M P Y W ] U a R _ Z M P R \ R ] c b f W Z Z ^ P P d a _ a ^ M P c W e R Z h f V R ] f M a a M ] c R QY ¿ E h [ o e k c I j m o l s ‘ j ‘ k q p « [‹ I R M a R W \ _ Z R \ R ] c W ] U _ a ^ P R b b W \ _ a ^ e R \ R ] c b c ^ a R Q d P R S Z M a W ] U M ] Q M P V W R e R R ] V M ] P R Q P ^ ] c a ^ Z R S S W P W R ] P hY ª @ _ s [ k ^ e k c M ‘ [ p r o ‘ j ‘ k q [ k _ Q r [ k q e a e ^ [ q e l k T ‘ ^ d k l h l c v « [‹ I R M a R M ] M Z h j W ] U Q M c M S a ^ \ 7 ^ d a W R a c a M ] b S ^ a \ W ] S a M a R Q b _ R P c a ^ b P ^ _ h H 7 F ; DI c R b c W ] U M ] Q R \ _ Z ^ h W ] U M Q e M ] P R Q \ ^ ] W c ^ a W ] U c R P V ] ^ Z ^ U W R b\ b d P V M b b M c R Z Z W c R W \ M U R a h\ S Z h ^ e R a b M ] Q Q a ^ ] R b\ c ^ W Q R ] c W S h Z R M Y b M ] Q W ] S ^ a \ P M Z P d Z M c W ^ ] bY ª T O T @ L ¿ M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e l k o ‘ _ r ^ e k c j ‘ q d [ k ‘ ‘ j e p p e l k p ] v [ p p ‘ q p [ k _ h ‘ s ‘ o [ c e k c o ‘ c r h [ q l o v [ k _ j [ e k q ‘ k [ k ^ ‘ p v k ‘ o c e ‘ p q d o l r c j ‘ q d [ k ‘ j e q e c [ q e l k m o l f ‘ ^ q p… 2 b _ M a c ^ S c V W b P ^ \ \ W c \ R ] c\ M Q e M ] Q R _ Z ^ h R Q W ] c ^ R ] V M ] P R \ R M b d a R \ W b b W ^ ] W ] e R ] c ^ a W R b\ W \ _ a ^ e W ] U c a M ] b _ M a R ] P hY ; ] e R b c \ R ] c b W ] c V R b f W c V R g _ M ] Q R Q M Q e ^ P M P h M ] Q W ] Q b c a R ] U c V R ] R Q Q M c My Q a W e R ] Q R P W b ^ d a Q R Q W P M c W ^ ] c ^ Z ^ f R a W ] U ^ d a \ R , 1 ’ 8 6 7 5 < ( 1 * $ * ( 0 ( 1 7 7 a R ‘ d R ] c M ] Q R S S R P c W e R P ^ \ \ d ] W P M M P M Q R \ W P W ] b c W c d c W ^ ] b W b M Y R h \ R c V M ] R W ] c R ] b W c h a R Q d P c W ^ ] M b _ W _ a M P c W P R b f W c V ^ d a _ R R a b M ] Q a R b ? B > J c ^ W Q R ] c W S h M ] Q R g R P d c R ^ ] c ^ _ _ ^ a c d ] W c W R b S ^ a R \ W b b W ^ ] Q R c R P c R P V ] ^ Z ^ U W R bY 2 S R f ^ S c V R b R W ] Q 2 _ _ M Z M P V W M ] ? R c V M ] R ; ] W c W M c W E d _ _ ^ a c R Q c V R 6 ] R a U h 6 \ W b b W ^ ] b ? ^ Q R Z W ] U M _ a ^ M P c W e R\ S W a b cy ^ Sy W c by Y W ] Q O c ^ S d a c V R a R ] V M ] P R \ R c V M ] R R \ W b S M P W Z W c M c R \ R c V M ] R R \ W b b W ^ ] b 2 _ _ M Z M P V W M ] 3 M b W ]Y 2 ? ; M W \ b c M ] Q ^ _ R a M c ^ a \ R c a W P b c V M c f W Z Z a R Q d P c W ^ ] bY F V R 6 ] e W a ^ ] \ R ] c M Z B M a c ] R a b V W _ H F 6 B W b P ^ \ _ a W b R Q ^ S M ] d \ O R a ^ S 2 \ R a W P M P ^ \ _ M ] W R b c V M c b V M a R a R Z W M O W ^ _ R a M c W ^ ] b \ R c a W P b c ^ _ a ^ U a R b b R R ] e W a ^ ] \ R ] c M Z ^ d c P ^ \ R bY 4 ^ Z ^ a M Q ^ E c M c R G ] W e R a b W c h ? R c V F R P V ] ^ Z ^ U h 6 e M Z d M c W ^ ] 4 R ] c R a H 4 A _ R a M c R Q O h c V R 6 ] R a U h ; ] b c W c d c _ a ^ e W Q R b M Z R M Q W ] U a R b R M a P V S c R b c W ] U\ M ] Q Q R \ ^ ] b c a M c W ] U R \ W b M ] Q ‘ d M ] c W S W P M c W ^ ] c R P V ] ^ Z ^ U W H MI A ] U ^ W ] U M ] Q§ ^ a S d c d a R Q R e R Z ^ _ \ R ] c ^ _ _ ^ a c d ] W c W R bY 4 d a a R ] c Z h M e M W Z M O Z R R b c W \ M c R b M a R O M b R Q ^ ] 6 B 2h b d _ P ^ \ W ] U a R e W b R Q 8 : 8 a R _ ^ a c W ] U a d Z RY
Slide 33 — C D L I V D R I N F R D @ Lª T I M D D Q U I P M D N T @ N C B O M P R D S S I O N V I S I A I L I T Y
C D L I V D R I N F R D @ Lª T I M D D Q U I P M D N T @ N C B O M P R D S S I O N V I S I A I L I T Y D B H O c ‘ q p o ‘ [ hª q e j ‘ _ [ q [ a o l j ^ l j m o ‘ p p l o p g e _ p [ k _ m r j m p g e _ p q l O m ‘ o [ q e l k p¿ M [ e k q ‘ k [ k ^ ‘ [ k _ R ‘ h e [ ] e h e q v q l c r e _ ‘ _ ‘ ^ e p e l k p q d [ q p r m m l o q¾ î D a a e ^ e ‘ k q h v r q e h e x e k c d l o p ‘ m l t ‘ o¿ e k ^ h r _ e k c p d r q q e k c _ l t k r k k ‘ ^ ‘ p p [ o v r k e q p q l o ‘ _ r ^ ‘ c o ‘ ‘ k d l r p ‘ c [ p ‘ j e p p e l k p [ k _ p [ s ‘ a r ‘ h… î I _ ‘ k q e a v e k c e k ‘ a a e ^ e ‘ k q r k e q p [ k _ _ ‘ m h l v e k c [ _ _ e q e l k [ h [ k [ h v p e p… î L [ v e k c q d ‘ a l r k _ [ q e l k a l o m o ‘ s ‘ k q e s ‘ j [ e k q ‘ k [ k ^ ‘ m o [ ^ q e ^ ‘ p ] v o ‘ ^ l o _ e k c m [ k ‘ h _ [ q [ e k [ t [ v q d [ q ^ l r h _ c ‘ k ‘ o [ q ‘ [ k [ h v q e ^ [ h e k p e c d q [ k _ j l _ ‘ h e k c… B r o o ‘ k q m o l c o [ j e j m h ‘ j ‘ k q [ q e l k p q l _ [ q ‘ [ o ‘ ‘ p q e j [ q ‘ _ q l o ‘ _ r ^ ‘ ‘ k ‘ o c v r p ‘ ] v [ m m o l u e j [ q ‘ h v ¿ j j ] q r m ‘ o v ‘ [ o… O r o c l [ h e p q l _ ‘ m h l v q d e p q ‘ ^ d k l h l c v q d o l r c d l r q q d ‘ M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p l m ‘ o [ q e l k [ h a l l q m o e k q ] v q d ‘ ‘ k _ l a … 3 5 , 2 5 , 7 , = , 1 * 2 8 5 * 5 ( $ 7 ( 6 7 5 ( ’ 8 & 7 , 2 1 2 3 3 2 5 7 8 1 , 7 < 0 ( 7 + $ 1 ( 6 / , 3 § o ‘ _ r ^ q e l k ª § S e k ^ ‘ ¿ t ‘ d [ s ‘ e j m h ‘ j ‘ k q ‘ _ j ‘ [ p r o ‘ p q d [ q [ ^ d e ‘ s ‘ _ l s ‘ o ¿ q l k k ‘ p m ‘ o v ‘ [ o l a j ‘ q d [ k ‘ j e p p e l k p o ‘ _ r ^ q e l k p… P e ^ q r o ‘ _¾ M P L X× p P o ‘ [ g k ‘ p p k [ q r o [ h c [ p m o l ^ ‘ p p e k c m h [ k q e k q d ‘ P ‘ o j e [ k A [ p e k ? R c V M ] R b Z W _ a R S R a b c ^ \ R c V M ] R a R Z R M b R Q W ] c ^ c V R M c W ] S Z M a R b\ V R M c R a b\ M ] Q\ \ ^ b c P ^ \ \ ^ ] Z h\ a R P W _ a ^ P M c W ] U R g V M d b cY F V R 6 B 2 W b b d R Q d _ Q M c R b c ^ W c b 8 : 8 a R _ ^ a c W ] U R \ W b b W ^ ] b H c ^ O R a R _ ^ a c R Q W ] I M ] Q W ] P Z d Q R b W U ] W R ‘ d W _ \ R ] c\ b d P V M b P ^ \ _ a R b b ^ a R ] U W ] R b\ Q d R c ^ \ R c V M ] R O h ? B > J W ] Q W P M c R b c V M c ^ d a M P c d M Z R ] U W ] R _ R a S ^ a \ M ] P c V M ] c V R b R a R e W b R Q 6 B 2 S M P c ^ a b\ O d c M c a M c R b V W U V R a 2 b M a R b d Z c\ f R M a R M P c W e R Z h P ^ ] b W Q R a W ] U c V R S ^ Z Z ^ f W 6 ] U W ] R G _ U a M Q R = W c b[ 2 ] R ] U W ] R b d _ _ Z W R a V M b W ] c a ^ Q d P R Q P ^ b c d _ U a M Q R Y W c b c V M c P M ] O R W ] b c M Z Z R Q Q d a W ] U ^ e R a V M f V W Z R M Z b ^ Z ^ f R a W ] U ^ c V R a P ^y _ ^ Z Z d c M ] c b Y 7 d R Z A _ c W \ W j M c W ^ ][ F V a ^ d U V ^ d a 6 ‘ d W _ \ R ] c\ 4 ^ \ _ a R b b W ^ ] : R M Z c V _ a ^ U a M \\ f R M a R R ] V M ] P W ] U R S S W P W R ] P h M ] Q a R Q d P W ] U 5 M c My 5 a W e R ] ? M W ] c R ] M ] P R[ I R M a R _ a W ^ a W c W j W ] U R ] U W ] R \ M W ] c R ] ^ ] W ] b W U V c b S a ^ \ M R a W M Z Q R c R P c W ^ ] Q M c M\ R ] b d a W ] U 0 ( 7 + $ 1 ( ( 0 , 6 6 , 2 1 6 , 1 7 ( 1 6 , 7 < 7 $ 5 * ( 7 F V R Q M c M S a ^ \ ^ d a P ^ \ _ a R b b ^ a R ] U W ] R b c d Q h\ M b f R Z Z M b c W ] Q W P M c R M ] W \ _ M P c c ^ ^ d a W ] c R ] b W c h O M b R Z W ] R M ] Q P 2 P P ^ a Q W ] U Z h\ f R _ Z M ] c ^ M Q X d b c ^ d a M S S R P c R Q c M a U R c b a R e W b R Q R \ W b b W ^ ] b S M P c ^ a b M a R W \ _ Z R \ R ] c R QY j ‘ q d [ k ‘¿ p ^ a k [ q r o [ h c [ p e k m r q p¿ p ^ a
Slide 34 — E o ‘ p d t [ q ‘ o W e q d _ o [ t [ h I k q ‘ k p e q v
E o ‘ p d t [ q ‘ o W e q d _ o [ t [ h I k q ‘ k p e q v 7 a R b V f M c R a W b R b b R ] c W M Z c ^ b d b c M W ] W ] U Z W S RY E ^ P W R c h a R Z W R b ^ ] W c S ^ a S ^ ^ Q _ a ^ Q d P c W ^ ]\ V R M Z c V d b R Q c ^ M Q Q V R M c c ^ ^ d a \ M ] d S M P c d a W ] U _ a ^ P R b b M b b c R M \\ a R \ ^ e R _ a ^ P R b b V R M c M b P ^ ^ Z W ] U f M c R a\ a R P ^ ] c a ^ Z R \ W b b W ^ ] b\ M ] Q P Z R M ] R ‘ d W _ \ R ] c Q d a W ] U \ M W ] c R ] M ] P R M P c W e W c W R bY 5 R _ R ] Q W ] U ^ ] c V R Z ^ P M c W _ Z M ] c b\ M ] Q a R P h P Z R Q f M c R a _ d a P V M b R bY : $ 7 ( 5 $ 9 $ , / $ % , / , 7 < $ 1 ’ ’ 5 2 8 * + 7 I M c R a M e M W Z M O W Z W c h M ] Q ^ c V R a a R Z M c R Q a W b Y b\ b d P V M b f M c R a ‘ d M Z W c h\ M a R M \ M X ^ a P ^ ] P R a ] c V a ^ d f W c V M P V M ] U W ] U P Z W \ M c R\ P ^ d Z Q S d a c V R a R g M P R a O M c R c V R b R a W b Y b\ W ] P Z d Q W ] U W ] c R ] b W S h W ] U c V R c V R b ^ d c V f R b c R a ] GY EY ; ] b ^ \ R a R U W ^ ] b\ _ a ^ Z ^ ] U R Q Q a ^ d U V c M ] Q _ R a W ^ Q b ^ S R Z R e M c R Q c R \ _ R a M c d a R b P F V R b R a W b Y b P ^ d Z Q P a R M c R ^ _ R a M c W ^ ] M Z P ^ ] b c a M W ] c b S ^ a f M c R a d c W Z W c W R bY 5 d a W ] U Q a ^ d U V c P ^ ] Q W c W b d _ _ Z h b ^ d a P R b\ f V W Z R b W \ d Z c M ] R ^ d b Z h S M P W ] U W ] P a R M b R Q Q R \ M ] Q S a ^ \ P d b c ^ \ R a bY F V W b W \ O M Z M ] P R ^ ^ a R Z W \ W ] M c W ] U f M c R a b ^ d a P R b c h _ W P M Z Z h M e M W Z M O Z R c ^ M S M P W Z W c hY ; ] b R e R a R Q a ^ d U V c P M b R b\ M _ a W ^ a W c h ^ a P ^ ] c a M P c d M Z M U a R R \ R ] c bY ) 2 & 8 6 2 1 : $ 7 ( 5 3 5 2 * 5 $ 0 2 b W Z Z d b c a M c R Q W ] 7 W U d a R \ ^ d a > ^ b 2 ] U R Z R b a R S W ] R a h M ] Q ? M a c W ] R j D R ] R f M O Z R b X ^ W ] c e R ] c d a R S M P M e M W Z M O W Z W c h\ M b Q R S W ] R Q O h c V R 8 Z ^ O M Z D R _ ^ a c W ] U ; ] W c W M c W e R M ] Q I ^ a Z Q D R b ^ d a P R b ; ] b c W c d c R M c c V R b R b W c R b M ] Q ^ c V R a b\ f R M Q ^ _ c R Q M S ^ a \ M Z 7 ^ P d b ^ ] I M c R a _ a ^ U a M \ W ] Y F V W b _ a ^ U a M \ W b Q R \ W c W U M c R f M c R ay a R Z M c R Q a W b Y b\ M ] Q W Q R ] c W S h ^ _ _ ^ a c d ] W c W R b c ^ a R Q d P R S a R b V f M c R a P ^ ] b d \ _ c W ^ ]Y F M c c R ] c W ^ ] ^ ] S M P W Z W c W R b Z ^ P M c R Q W ] a R U W ^ ] b f V R a R f M c R a b c a R b b W b V W U V R a\ b d P V M b 4 M Z W S ^ a ] W M T d o l r c d l r o E l ^ r p l k W [ q ‘ o m o l c o [ j¿ t ‘ [ ^ q e s ‘ h v q o [ ^ g t [ q ‘ o r q e h e x [ q e l k [ ^ o l p p l r o l m ‘ o [ q e l k p¿ ^ l k q e k r l r p h v e _ ‘ m ‘ k _ ‘ k ^ v l k q d e p p d [ o ‘ _ o ‘ p l r o ^ ‘ q d o l r c d m o l ^ ‘ p p l m q e j e x [ q e l k [ k _ ‘ a a e ^ e ‘ k q t [ q ‘ o j [ k [ c ‘ j ‘ k q m o [ ^ q e ^ ‘ p… H MI I ^ a Z Q D R b ^ d a P R ; ] b c W c d c R\ 2 ‘ d R Q d P c 2 b b R b b \ R ] c F ^ ^ Z\ M e M W Z M O Z R M c V c c _ b[§§ f f fY f a WY ^ a U§ M ‘ d R Q d P c§ c ^ ^ Z bY @ ^ c R[ D R b d Z c b ^ S f M c R a a W b Y M b b R b b \ R E e c r o ‘ … W [ q ‘ o R e p g @ k [ h v p e p ª W R I @ n r ‘ _ r ^ q @ p p ‘ p p j ‘ k q T l l h « [‹
Slide 35 — H e c d h e c d q p a o l j q d ‘ E l ^ r p l k W [ q ‘ o m o l c o [ j e k e
F ^ R ] b d a R c V R b d P P R b b ^ S c V R 7 ^ _ a ^ U a M \\ f R R b c M O Z W b V R Q M P ^ \ a R Q d P R S a R b V f M c R a f W c V Q a M f M Z Z R e R Z b O h Y T l _ [ q ‘¿ t ‘ d [ s ‘ [ ^ d e ‘ s ‘ _ [ k § o ‘ _ r ^ q e l k e k e k q ‘ k p e q v ] ‘ h l t t d e ^ d ‘ n r [ q ‘ p q l [ h j l p q ] e h h e a o ‘ p d t [ q ‘ o p [ s ‘ _ m ‘ o v ‘ [ o… 2 b V W U V Z W U V c R Q c ^ c V R a W U V c \ _ a ^ X R P c b W Q R ] c W O h c V R 7 ^ P d b ^ ] I M c R a _ a ^ U a M \ M V M e R c V R _ ^ c R ] c W M Z c ^ b M e R M ] U M Z Z ^ ] b ^ S S a R b V f M c R a _ R a h R M ) 5 ( 6 + : $ 7 ( 5 : , 7 + ’ 5 $ : $ / , 1 7 ( 1 6 , 7 < 5 ( ’ 8 & 7 , 2 1 7 $ 5 * ( 7 D L P @ S O R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h l k E c R M \ \ M ] M U R \ R ] c f M b R ] V M a R P ^ e R a M Q Q W c W ^ ] M Z P ^ ] Q R _ a ^ X R P ch b b d P P R b b V M b _ a ^ \ _ M a M Z Z R Z ^ _ c W \ W j M c W ^ ] W ^ S c V R a R S W ] R a hY L O S @ N F D L D S R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h 2 P ^ ] Q R ] b W ] U b c R M \ c d a O W ] R f W c V M \ ^ a R R ] R a U hy R S S W P W Z ^ f R a W ] U c V R b W c Rm b f M c R a @ N @ B O R T D S R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h l k p 2 Z M a U R b c a R M \ ^ S f M b c R f M c R a f M b a R P ^ e S a ^ \ M f M b c Ry V R M c O ^ W Z R a M ] Q a R a ^ d c R Q c ^ M ] ^ c V R a _ a a R Q d P W ] U c V R d b R ^ S S a R b V R O A I N S O N R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h 2 ] R f \ R c V ^ Q ^ S b R _ M a M c W ] U f M b c R f M c R a S ^ a c V R S Z d W Q b P a d O O R a f M b R ] V M ] P R Q c ^ \ P M _ c d a R f M b c R f M c R a S ^ a a R P C D T R O I T R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h ; \ _ Z R \ R ] c R Q M _ a ^ X R P c c ^ d c W ^ b \ ^ b W b b h b c R \ c ^ _ a ^ P R b b M O W c b f M b c R f M c R a c a R M c \ R ] c _ Z a R d b R M b O ^ W Z R a S R R Q f M c R c ^ W \ _ Z R \ R ] c M b R P ^ ] Q b h b c R \ c f ^ S ^ Z Q W ] P a R M b R W ] f M c R a b F @ L V D S T O N A @ Y R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h E V W S c R Q ^ _ R a M c W ^ ] b c ^ W \ _ a d b R W ] c V R f R c U M b b P a d O O R B @ T L D T T S A U R F R D E I N D R Y @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h ? d Z c W _ Z R b c R M \ Z R M Y b S a ^ \ c b c R M \ V R M Q R a Q a W _ Z R U Z W ] f R a R a R _ M W a R Q M ] Q a R Q R b W U R M b W R a Z W ] R W b ^ Z M c W ^ ] W ] M @ R T I N D Z R D N D W @ A L D S @ k k r [ h p [ s e k c p¾ j e h h e l k c [ h h l F V R f M c R a M c c V R _ a R c a R M c \ R a R \ ^ e R \ R c M Z b\ b ^ Z W Q b M ] Q ^ S a ^ \ d ] c a R M c R Q S R R Q b c ^ P Y f M H e c d h e c d q p a o l j q d ‘ E l ^ r p l k W [ q ‘ o m o l c o [ j e k e § o ‘ _ r ^ q e l k ª § @ ^ c R[ 7 a R b V f M c R a e ^ Z d \ R b M a R _ a ^ X R P c R Q M ] ] d M Z W j R Q b M e W ] U bY
Slide 36 —
F o ‘ ‘ k d l r p ‘ F [ p M ‘ q o e ^ p « [‹« ]‹« ^‹ U k e q l a j ‘ [ p r o ‘ R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q @ B T I V I T Y … M P B R ‘ a e k e k c j [ k r a [ ^ q r o e k c e k m r q p j e h h e l k ] l ‘ m o l ^ ‘ p p ‘ _ e k m r q p ¿ ¿ ¿ ¿ ¿ ¿ … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p m h [ k q j [ k r a [ ^ q r o e k c e k m r q p j e h h e l k ] l ‘ m o l ^ ‘ p p ‘ _ e k m r q p … T l q [ h M P B [ k _ M P L X j [ k r a [ ^ q r o e k c e k m r q p j e h h e l k ] l ‘ m o l ^ ‘ p p ‘ _ e k m r q p ¿ ¿ ¿ ¿ ¿ ¿ … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p c [ q d ‘ o e k c q d o l r c d m r q ] e h h e l k p ^ a k [ q r o [ h c [ pæ ¿ ¿ ¿ ¿ ¿ … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p m o l ^ ‘ p p e k c q d o l r c d m r q ] e h h e l k p ^ a k [ q r o [ h c [ pæ ¿ ¿ ¿ ¿ ¿ S B O P D F H F D M I S S I O N S « _‹« ‘‹ … M P B R ‘ a e k e k c S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P L X B o r _ ‘ O e h [ k _ P o l _ r ^ q p L l c e p q e ^ p S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P B O q d ‘ o S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … T l q [ h M P B [ k _ M P L X S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … T l q [ h S ^ l m ‘ ] e l c ‘ k e ^ B OY ‘ j e p p e l k p j e h h e l k q l k k ‘ p ] e l c ‘ k e ^ B OYæ æ … … … … S B O P D F H F D M I S S I O N S « L O B @ T I O Nª A @ S D C‹ « ‘‹« a‹ … M P B R ‘ a e k e k c S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P L X B o r _ ‘ O e h [ k _ P o l _ r ^ q p L l c e p q e ^ p S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … M P B O q d ‘ o S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … … T l q [ h M P B [ k _ M P L X S ^ l m ‘ F H F ‘ j e p p e l k p j e h h e l k q l k k ‘ p B OY ‘ … … … … … … S B O P D F H F D M I S S I O N S « ‘‹« c‹ … M P B S ^ l m ‘ ª B [ q ‘ c l o v F H F ‘ j e p p e l k p « o ‘ a e k ‘ o v v e ‘ h _ j ‘ q d l _‹ j e h h e l k q l k k ‘ p B OY ‘ æ æ … A e l c ‘ k e ^ M P B S ^ l m ‘ ª ^ [ q ‘ c l o v F H F ‘ j e p p e l k p « o ‘ a e k ‘ o v v e ‘ h _ j ‘ q d l _‹ j e h h e l k q l k k ‘ p ] e l c ‘ k e ^ B OYæ æ F H F I N T D N S I T I D S « d‹« e‹ … M P B R ‘ a e k e k c S ^ l m ‘ [ k _ F H F e k q ‘ k p e q v q l k k ‘ p B OY ‘ q d l r p [ k _ ] l ‘ e k m r q … … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p S ^ l m ‘ [ k _ F H F e k q ‘ k p e q v q l k k ‘ p B OY ‘ q d l r p [ k _ ] l ‘ e k m r q … … … … … … … M P B [ k _ M P L X q l q [ h S ^ l m ‘ [ k _ F H F e k q ‘ k p e q v q l k k ‘ p B OY ‘ q d l r p [ k _ ] l ‘ e k m r q … … … … … … … M P B [ k _ M P L X q l q [ h S ^ l m ‘ [ k _ F H F e k q ‘ k p e q v o ‘ _ r ^ q e l k a o l j ] [ p ‘ h e k ‘ æ § § § § §
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F o ‘ ‘ k d l r p ‘ F [ p M ‘ q o e ^ p « [‹« ]‹« ^‹ « ^ l k q e k r ‘ _‹ U k e q l a M ‘ [ p r o ‘ R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q R ‘ p r h q M D T H @ N D « f‹ … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p c [ q d ‘ o e k c j ‘ q d [ k ‘ ‘ j e p p e l k p q d l r p [ k _ q l k k ‘ p B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p m o l ^ ‘ p p e k c j ‘ q d [ k ‘ ‘ j e p p e l k p q d l r p [ k _ q l k k ‘ p B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p q l q [ h j ‘ q d [ k ‘ ‘ j e p p e l k p q d l r p [ k _ q l k k ‘ p B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p c [ q d ‘ o e k c j ‘ q d [ k ‘ ‘ j e p p e l k p ] e h h e l k p ^ a B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p m o l ^ ‘ p p e k c j ‘ q d [ k ‘ ‘ j e p p e l k p ] e h h e l k p ^ a B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p q l q [ h j ‘ q d [ k ‘ ‘ j e p p e l k p ] e h h e l k p ^ a B H[ æ … … … … … … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p c [ q d ‘ o e k c j ‘ q d [ k ‘ ‘ j e p p e l k p e k q ‘ k p e q v j ‘ q d [ k ‘ « p ^ a‹ e k m r q p « p ^ a‹ æ … § … § … § … § … § … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p c [ p m o l ^ ‘ p p e k c j ‘ q d [ k ‘ ‘ j e p p e l k p e k q ‘ k p e q v j ‘ q d [ k ‘ « p ^ a‹ e k m r q p « p ^ a‹ æ … § … § … § … § … § … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p ^ l j ] e k ‘ _ j ‘ q d [ k ‘ ‘ j e p p e l k p e k q ‘ k p e q v j ‘ q d [ k ‘ « p ^ a‹ e k m r q p « p ^ a‹ æ … § … § … § … § … § … M P L X N [ q r o [ h F [ p [ k _ N F L S ‘ o s e ^ ‘ p ^ l j ] e k ‘ _ j ‘ q d [ k ‘ ‘ j e p p e l k p e k q ‘ k p e q v o ‘ _ r ^ q e l k a o l j ] [ p ‘ h e k ‘ æ æ § § § § W [ q ‘ o M ‘ q o e ^ p « M P B [ k _ M P L X B l j ] e k ‘ _‹ « [‹« ]‹« ^‹ … T l q [ h a o ‘ p d t [ q ‘ o t e q d _ o [ t [ h q d l r p [ k _ j ‘ c [ h e q ‘ o p æ … T l q [ h t [ q ‘ o _ e p ^ d [ o c ‘ q d l r p [ k _ j ‘ c [ h e q ‘ o p æ … T l q [ h a o ‘ p d t [ q ‘ o t e q d _ o [ t [ h e k p q o ‘ p p ‘ _ [ o ‘ [ p q d l r p [ k _ j ‘ c [ h e q ‘ o p æ … T l q [ h t [ q ‘ o _ e p ^ d [ o c ‘ e k p q o ‘ p p ‘ _ [ o ‘ [ p q d l r p [ k _ j ‘ c [ h e q ‘ o p æ … E o ‘ p d t [ q ‘ o t e q d _ o [ t [ h e k q ‘ k p e q v j ‘ c [ h e q ‘ o p j e h h e l k ] l ‘ e k m r q æ … E o ‘ p d t [ q ‘ o t e q d _ o [ t [ h e k q ‘ k p e q v o ‘ _ r ^ q e l k a o l j ] [ p ‘ h e k ‘ æ æ § § § § H MI B Z R M b R b R R _ a R e W ^ d b a R _ ^ a c b S ^ a ] ^ ]y O M b R Z W ] R h R M a Q M c M _ a W ^ a c ^ Y H OI F ^ c M Z b \ M h ] ^ c R ‘ d M Z b d \ ^ S P ^ \ _ ^ ] R ] c b Q d R c ^ W ] Q R _ R ] Q R ] c a ^ d ] Q W ] UY H PI A _ R a M c W ^ ] M Z 8 : 8 R \ W b b W ^ ] b Q M c M M ] Q f M c R a Q M c M a R _ ^ a c R Q S ^ a S M P W Z W c W R b f V R a R ? B 4 M ] Q ? B > J V M e R ^ _ R a M c W ^ ] M Z P ^ ] c a ^ ZY 5 M c M O R S ^ a R W b W M b b R c O M b R ^ e R a c W \ RY H QI E P ^ _ R Q W a R P c 8 : 8 R \ W b b W ^ ] b W ] P Z d Q R c V ^ b R S a ^ \ D R S W ] W ] U\ ? W Q b c a R M \ M ] Q D R c M W Z§ ^ c V R a M ] Q M a R c h _ W P M Z Z h P M Z P d Z M c R Q _ R a c V R 6 B 2m b ? M ] Q M c ? R c V ^ Q ^ Z ^ U W R b S ^ a c V R A W Z M ] Q @ M c d a M Z 8 M b ; ] Q d b c a hY 8 Z ^ O M Z I M a \ W ] U B ^ c R ] c W M Z b d b R Q M a R S a ^ \ F M O Z R 2y c ^ E d O _ M a c 2 ^ S 4 7 D B M a c M b ^ S c S d U W c W e R R \ W b b W ^ ] bY H RI ; ] P Z d b W e R ^ S P M a O ^ ] Q W ^ g W Q R H 4 A I\ \ R c V M ] R H 4 : I\ ] W c a ^ d b ^ g W Q R H @ AI M ] Q b d Z S d a V R g M S Z d ^ a W Q R H E 7 IY @ W c a ^ U R ] c a W S Z d ^ a W Q R H @ 7 I\ V h Q a ^ S Z d ^ a ^ P M a O ^ ] b H : 7 4I\ M ] Q _ R a S Z d ^ a ^ P M a O ^ ] b H B 7 4I R \ W b b W ^ ] b M a R P ^ ^ _ R a M c W ^ ] b M ] Q M a R c V R a R S ^ a R R g P Z d Q R QY H SI E P ^ _ R R \ W b b W ^ ] b W ] P Z d Q R W ] Q W a R P c 8 : 8 R \ W b b W ^ ] b S a ^ \ P ^ ] b d \ _ c W ^ ] ^ S _ d a P V M b R Q R Z R P c a W P W c h\ V R M c ^ a b c R M \Y H UI ? B 4 R b c W \ M c R b R \ W b b W ^ ] b S a ^ \ c V W a Qy _ M a c h d b R ^ S b ^ Z Q _ a ^ Q d P c b W ] M Z W U ] \ R ] c f W c V \ R c V ^ Q b W ] 4 M c R U ^ a h ^ S ; _ W R P Mm b 6 b c W \ M c W ] U B R c a ^ Z R d \ ; ] Q a R S W ] R a h h W R Z Q b M b b c M c R Q W ] ? B 4m b 2 ] ] d M Z D R _ ^ a c ^ ] 7 ^ a \ y =\ R \ W b b W ^ ] S M P c ^ a b S a ^ \ 6 B 2m b 8 : 8 6 \ W b b W ^ ] 7 M P c ^ a b : d O M c c V R 6 B 2 4 R ] c R a S ^ a 4 ^ a _ ^ a ; ] e R ] c ^ a h ^ S GY EY 8 a R R ] V ^ d b R 8 M b 6 \ W b b W ^ ] b M ] Q E W ] Y bY H VI 6 g P Z d Q R b 8 : 8 b M b b ^ P W M c R Q f W c V R g _ ^ a c R Q _ ^ f R a S a ^ \ P ^ U R ] R a M c W ^ ] d ] W c bY H WI 6 g P Z d Q R b D R c M W Z M ] Q 8 : 8 b M b b ^ P W M c R Q f W c V R g _ ^ a c R Q _ ^ f R a S a ^ \ P ^ U R ] R a M c W ^ ] d ] W c bY H XI ? R c V M ] R R \ W b b W ^ ] b f R a R P M Z P d Z M c R Q _ d a b d M ] c c ^ c V R 6 B 2h b ? M ] Q M c ^ a h 8 a R R ] V ^ d b R 8 M b D R _ ^ a c W ] U D d Z R H ? D DI M c 4 7 D B M a c Y 2 b V W U V Z W U V c R Q ^ U M by S W a R Q P ^ \ _ a R b b ^ a bY I R R g _ R P c c V M c ^ d a a R _ ^ a c R Q \ R c V M ] R R \ W b b W ^ ] b f W Z Z b V ^ f M ] W ] P a R M b R ^ S « \ \ R c a W P c ^ ] ] R b _ R a h R M a W ] ^ d a O M b R Z W ] R M ] Q M ] ] d M Z a R _ ^ a c R Q \ R c V M ] R R \ W b b W ^ ] b f V
Slide 38 — F 4 7 5 D R P ^ \ \ R ] Q M c W ^ ] ; ] Q R g
F 4 7 5 D R P ^ \ \ R ] Q M c W ^ ] ; ] Q R g F V R c M O Z R O R Z ^ f b V ^ f b V ^ f c V R Q W b P Z ^ b d a R b W ] c V W b a R _ ^ a c M Z W U ] f W c V c V R a R P ^ \ \ R ] Q M c W ^ ] b ^ S c V R 7 W ] M ] P W 5 W b P Z ^ b d a R b H F 4 M b c V R F 4 7 5 V M b Q R b P a W O R Q c V R P M c R U ^ a W R b\ M ] Q f V R a R c V R a R Z R e M ] c W ] S ^ a \ M c W ^ ] P M ] O R S ^ d ] Q W ] c V W b a R _ ^ a cY T B E C R D B O M M D N C @ T I O N S ‘ ^ q e l k P [ c ‘ F l s ‘ o k [ k ^ ‘ C e p ^ h l p ‘ q d ‘ l o c [ k e x [ q e l k× p c l s ‘ o k [ k ^ ‘ [ o l r k _ ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p… C ‘ p ^ o e ] ‘ q d ‘ ] l [ o _× p l s ‘ o p e c d q l a ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p… F l s ‘ o k [ k ^ ‘ C ‘ p ^ o e ] ‘ j [ k [ c ‘ j ‘ k q× p o l h ‘ e k [ p p ‘ p p e k c [ k _ j [ k [ c e k c ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p… F l s ‘ o k [ k ^ ‘ R e p g M [ k [ c ‘ j ‘ k q S q o [ q ‘ c v C e p ^ h l p ‘ q d ‘ [ ^ q r [ h [ k _ m l q ‘ k q e [ h e j m [ ^ q p l a ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p l k q d ‘ l o c [ k e x [ q e l k× p ] r p e k ‘ p p¿ p q o [ q ‘ c v [ k _ a e k [ k ^ e [ h m h [ k k e k c t d ‘ o ‘ p r ^ d e k a l o j [ q e l k e p j [ q ‘ o e [ h… C ‘ p ^ o e ] ‘ q d ‘ ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p q d ‘ l o c [ k e x [ q e l k d [ p e _ ‘ k q e a e ‘ _ l s ‘ o q d ‘ p d l o q¿ j ‘ _ e r j [ k _ h l k c q ‘ o j… S q o [ q ‘ c v [ k _ S ^ ‘ k [ o e l P h [ k k e k c C ‘ p ^ o e ] ‘ q d ‘ e j m [ ^ q l a ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p l k q d ‘ l o c [ k e x [ q e l k× p ] r p e k ‘ p p ‘ p¿ p q o [ q ‘ c v [ k _ a e k [ k ^ e [ h m h [ k k e k c… S q o [ q ‘ c v [ k _ S ^ ‘ k [ o e l P h [ k k e k c C ‘ p ^ o e ] ‘ q d ‘ o ‘ p e h e ‘ k ^ ‘ l a q d ‘ l o c [ k e x [ q e l k× p p q o [ q ‘ c v¿ q [ g e k c e k q l ^ l k p e _ ‘ o [ q e l k _ e a a ‘ o ‘ k q ^ h e j [ q ‘ª o ‘ h [ q ‘ _ p ^ ‘ k [ o e l p¿ e k ^ h r _ e k c [ 3 B l o h l t ‘ o p ^ ‘ k [ o e l… S q o [ q ‘ c v [ k _ S ^ ‘ k [ o e l P h [ k k e k c ª R e p g M [ k [ c ‘ j ‘ k q C e p ^ h l p ‘ d l t q d ‘ l o c [ k e x [ q e l k e _ ‘ k q e a e ‘ p¿ [ p p ‘ p p ‘ p [ k _ j [ k [ c ‘ p ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p… C ‘ p ^ o e ] ‘ q d ‘ l o c [ k e x [ q e l k× p m o l ^ ‘ p p ‘ p a l o e _ ‘ k q e a v e k c [ k _ [ p p ‘ p p e k c ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p… F l s ‘ o k [ k ^ ‘ R e p g M [ k [ c ‘ j ‘ k q S q o [ q ‘ c v [ k _ S ^ ‘ k [ o e l P h [ k k e k c C ‘ p ^ o e ] ‘ q d ‘ l o c [ k e x [ q e l k× p m o l ^ ‘ p p ‘ p a l o j [ k [ c e k c ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p… R e p g M [ k [ c ‘ j ‘ k q M [ k [ c e k c P d v p e ^ [ h R e p g p q l O r o E [ ^ e h e q e ‘ p ª C ‘ p ^ o e ] ‘ d l t m o l ^ ‘ p p ‘ p a l o e _ ‘ k q e a v e k c¿ [ p p ‘ p p e k c [ k _ j [ k [ c e k c ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ o ‘ e k q ‘ c o [ q ‘ _ e k q l q d ‘ l o c [ k e x [ q e l k× p l s ‘ o [ h h o e p g j [ k [ c ‘ j ‘ k q… R e p g M [ k [ c ‘ j ‘ k q M ‘ q o e ^ p [ k _ T [ o c ‘ q p C e p ^ h l p ‘ q d ‘ j ‘ q o e ^ p [ k _ q [ o c ‘ q p r p ‘ _ q l [ p p ‘ p p [ k _ j [ k [ c ‘ o ‘ h ‘ s [ k q ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p t d ‘ o ‘ p r ^ d e k a l o j [ q e l k e p j [ q ‘ o e [ h… C e p ^ h l p ‘ q d ‘ j ‘ q o e ^ p r p ‘ _ ] v q d ‘ l o c [ k e x [ q e l k q l [ p p ‘ p p ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p e k h e k ‘ t e q d e q p p q o [ q ‘ c v [ k _ o e p g j [ k [ c ‘ j ‘ k q m o l ^ ‘ p p… B h e j [ q ‘ª R ‘ h [ q ‘ _ M ‘ q o e ^ p [ k _ T [ o c ‘ q p C e p ^ h l p ‘ S ^ l m ‘ ¿ S ^ l m ‘ ¿ [ k _¿ e a [ m m o l m o e [ q ‘¿ S ^ l m ‘ c o ‘ ‘ k d l r p ‘ c [ p « F H F‹ ‘ j e p p e l k p¿ [ k _ q d ‘ o ‘ h [ q ‘ _ o e p g p… B h e j [ q ‘ª R ‘ h [ q ‘ _ M ‘ q o e ^ p [ k _ T [ o c ‘ q p ª C ‘ p ^ o e ] ‘ q d ‘ q [ o c ‘ q p r p ‘ _ ] v q d ‘ l o c [ k e x [ q e l k q l j [ k [ c ‘ ^ h e j [ q ‘ª o ‘ h [ q ‘ _ o e p g p [ k _ l m m l o q r k e q e ‘ p [ k _ m ‘ o a l o j [ k ^ ‘ [ c [ e k p q q [ o c ‘ q p… B h e j [ q ‘ª R ‘ h [ q ‘ _ M ‘ q o e ^ p [ k _ T [ o c ‘ q p ª
Slide 39 — B e q [ q e l k p
B e q [ q e l k p H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y 6 g c R ] Q R Q 5 M c M b R c\ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a U§ Q M c My M ] Q F R a \ b ^ S G b R S ^ a @ ^ ]y 4 4 ? M c R a W M ZY 2 Z Z a W U V c b a R b R a e R Q\ M _ _ Z W P M O Z R S W U d a R b M b \ ^ Q W S W R Q O h ? M a M c V ^ ] B R c a ^ Z R d \ 4 ^ a _ ^ a M c W H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y \ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ f ^ a Z Qy R ] R a U hy ^ d c Z ^ ^ a R b R a e R Q] M _ _ Z W P M O Z R S W U d a R b M b \ ^ Q W S W R Q O h ? M a M c V ^ ] B R c a ^ Z R d \ 4 ^ a _ ^ a M c W ^ ]Y H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y \ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ f ^ a Z Qy R ] R a U hy ^ d c Z ^ ^ Yy ] ; 6 g _ Z ^ a R a M ] Q 5 M c M O M b R V ^ b c R Q O h ; ; 2 E 2\ Q M c MY R P RY W W M b MY M PY M c§ M a §Y H I A W Z ? 8 M b < ^ d a ] M Z A ] Z W ] R D R b R M a P V 4 R ] c R a H \ < M ] d M a hI\ I ^ a Z Q f W Q R D R S W ] R a h E d a e R h M ] Q 4 ^ \ _ Z R g W c h 2 ] M Z h b W b\ V c c _ b[§§ ^ U X a R H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ ? M a P VI\ 8 Z ^ O M Z 6 ] R a U h D R e W R f Q M c M b R c\ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ U Z ^ O M Zy R ] R a U hy a R H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ ? M a P VI\ ? M a P V ? ^ ] c V Z h 6 ] R a U h D R e W R f\ V c c _ b[§§ f f fY R W MY U ^ e§ c ^ c M Z R ] R a U h§ Q M c H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y \ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ f ^ a Z Qy R ] R a U hy ^ d c Z ^ ^ H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y \ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ f ^ a Z Qy R ] R a U hy ^ d c Z ^ ^ H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ A P c ^ O R aI\ I ^ a Z Q 6 ] R a U h A d c Z ^ ^ Y \ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a U§ a R _ ^ a c b§ f ^ a Z Qy R ] R a U hy ^ d c Z ^ ^ H I ; ] c R a ] M c W ^ ] M Z 6 ] R a U h 2 U R ] P h H \ 2 d U d b cI\ 8 a R R ] V ^ d b R 8 M b 6 \ W b b W ^ ] b S a ^ \ 6 ] R a U h\ y : W U V Z W U V c b\ B M a W b\ V c c _ b[§§ f f fY W R MY ^ a V W U V Z W U V c bY H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ ? M hI\ 2 ] ] d M Z GY EY @ M c d a M Z 8 M b 4 ^ ] b d \ _ c W ^ ] O h 6 ] Q G b R\ V c c _ b[§§ f f fY R W MY U ^ e§ Q ] M H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ ? M hI\ E V ^ a cy F R a \ 6 ] R a U h A d c Z ^ ^ Y H E F 6 AI\ V c c _ b[§§ f f fY R W MY U ^ e§ ^ d c Z ^ ^ Y b§ b c R ^§ W ] Q H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ 2 _ a W ZI\ 2 ] ] d M Z 6 ] R a U h A d c Z ^ ^ Y \ V c c _ b[§§ f f fY R W MY U ^ e§ ^ d c Z ^ ^ Y b§ M R ^§Y H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ ? M a P VI\ 2 ] ] d M Z 6 ] R a U h A d c Z ^ ^ Y \ V c c _ b[§§ f f fY R W MY U ^ e§ ^ d c Z ^ ^ Y b§ M a P V W e R§ M R ^ H I GY EY 6 ] R a U h ; ] S ^ a \ M c W ^ ] 2 Q \ W ] W b c a M c W ^ ] H \ ? M a P VI ? M a P V ? ^ ] c V Z h 6 ] R a U h D R e W R f\ V c c _ b[§§ f f fY R W MY U ^ e§ c ^ c M Z R ] R a U h§ Q M c M H I GY EY 6 B 2 H \ @ ^ e R \ O R aI\ 8 a R R ] V ^ d b R 8 M b 6 ‘ d W e M Z R ] P W R b 4 M Z P d Z M c ^ a\ V c c _ b[§§ f f fY R _ MY U ^ e§ R ] R a U h§ U a R R ] V ^ d b Ry U M by R ‘ d W e M Z R ] H I 4 M Z W S ^ a ] W M 2 W a D R b ^ d a P R b 3 ^ M a Q H \ ? M hI\ > ^ f 4 M a O ^ ] 7 d R Z E c M ] Q M a Q B M c V f M h 4 R a c W S W R Q 4 M a O ^ ] ; ] c R ] b W c W R b\ 4 R a c W S W R Q 7 d P M a O ^ ]y W ] c R ] b W c W R bY H I GY EY 6 B 2 H \ < M ] d M a hI\ 2 ] A e R a e W R f ^ S D R ] R f M O Z R @ M c d a M Z 8 M b S a ^ \ 3 W ^ U M b\ H 6 B 2 y Dy y I\ V c c _ b[§§ f f fY R _ MY U ^ e§ b W c R b§ Q R H I ? B 4 R b c W \ M c R Q M e ^ W Q R Q R \ W b b W ^ ] b d b W ] U S d R Z P M a O ^ ] W ] c R ] b W c h e M Z d R b U R ] R a M c R Q _ R a c V R 4 M Z W S ^ a ] W M 2 W a D R b ^ d a P R b 3 ^ M a Q 8 D 6 6 F Y IY H I ; ] c R a U ^ e R a ] \ R ] c M Z B M ] R Z ^ ] 4 Z W \ M c R 4 V M ] U R H I\ 4 Z W \ M c R 4 V M ] U R [ ? W c W U M c W ^ ] ^ S 4 Z W \ M c R 4 V M ] U R\ I ^ a Y W ] U 8 a ^ d _ ; ; ; P ^ ] c a W 4 M \ O a W Q U R\ G = M ] Q @ R f K ^ a Y\ @ K\ G E 2\ V c c _ b[§§ f f fY W _ P PY P V§ a R _ ^ a c§ M a § f U §Y H I ; ] c R a U ^ e R a ] \ R ] c M Z B M ] R Z ^ ] 4 Z W \ M c R 4 V M ] U R H I\ ; B 4 4 E _ R P W M Z D R _ ^ a c ^ ] c V R A P R M ] M ] Q 4 a h ^ b _ V R a R W ] M 4 V M ] U W ] U 4 Z W \ M c R\ V
Slide 40 —
7 ^ a f M a Qy Z ^ ^ Y W ] U E c M c R \ R ] c b F V W b _ d O Z W P M c W ^ ] P ^ ] c M W ] b S ^ a f M a Qy Z ^ ^ Y W ] U b c M c R \ R ] c b a R U M a Q W ] U ? M a M c V ^ ] B R c a ^ Z R d \ 4 ^ a _ ^ a M c W ^ ] H ? B 4I M ] Q ? B > J > B H ? B > JIY F V R b c W \ M c R b M ] Q _ a ^ X R P c W ^ ] b P ^ ] P R a ] W ] U W c b O d b W ] R b b M ] Q ^ _ R a M c W ^ ] b\ S W ] M ] P W M Z _ a W ^ a W c W R b\ b c a M c R U W P _ Z M ] b M ] Q W ] W c W M c W e R a R Z M c R Q _ Z M ] b M ] Q U ^ M Z bY 7 ^ a f M a Qy Z ^ ^ Y W ] U M ] Q ^ c V R a b c M c R \ R ] c b a R U M a Q W ] U ^ d a P Z W \ M c Ry a R Z M c R Q _ Z M ] b M ] Q U ^ M Z b M a R ] ^ c M ] W S W Z W ] U b f W c V c V R E R P d a W c W R b M ] Q 6 g P V M ] U R 4 ^ \ \ W b b W ^ ] H E 6 4IY ; ] c V R P ^ ] c R g c ^ S c V W b Q W b P Z ^ b d a R\ c V R c R a \ i \ M c R a W M Zj W b Q W b c W P M ] W Q R ] c W S h S ^ a f M a Qy Z ^ ^ Y W ] U b c M c R \ R ] c b O h f ^ a Q b b d P V M b i M ] c W P W _ M c R\j i O R Z W R e R\j i P ^ \ \ W c \ R ] c\j i P ^ d Z Q\j i Q R b W U ]\j i R ] Q R M e ^ a\j i ^ _ _ ^ a c d ] W c h\j i ^ d c Z ^ ^ Y\j i _ Z M ]\j i _ ^ Z W P h\j i _ ^ b W c W ^ ]\j i _ ^ c R ] c W M Z\j i _ a R Q W P c\j i _ a W ^ a W c h\j i _ a ^ U a R b b\j i _ a ^ X R P c\j i _ a ^ b _ R P c W e R\j i _ d a b R g _ a R b b W ^ ] b c V M c P ^ ] e R h c V R d ] P R a c M W ] c h ^ S S d c d a R R e R ] c b ^ a ^ d c P ^ \ R bY 7 ^ a f M a Qy Z ^ ^ Y W ] U b c M c R \ R ] c b W ] c V W b Q ^ P d \ R ] c W ] P Z d Q R\ M \ ^ ] U ^ c V R a c V W ] U b\ b c M c R \ R ] c b a R U M a Q W ] U ^ d a P Z W \ M c Ry a R Z M c R Q _ Z M ] b M ] R \ W b b W ^ ] b W ] c R ] b W c h c M a U R c b] \ R c V M ] R R \ W b b W ^ ] b W ] c R ] b W c h c M a U R c b] S a R b V f M c R a f W c V Q a M f M Z W ] c R ] b W c h c M a U R c b] b d P P R b b ^ a c W \ W W ] Q d b c a h\ a R U d Z M c ^ a h M ] Q Z R U W b Z M c W e R P ^ ] Q W c W ^ ] b] S d c d a R b M S R c h _ R a S ^ a \ M ] P R] S d c d a R S W ] M ] P W M Z M ] Q ^ _ R a M c W ] U _ R a S ^ a \ M ] P R M ] R g _ R ] Q W c d a R b\ U R ] R a M Z M ] Q M Q \ W ] W b c a M c W e R M ] Q ^ c V R a R g _ R ] b R b] O d b W ] R b b b c a M c R U W R b\ U a ^ f c V ^ _ _ ^ a c d ] W c W R b M ] Q R g _ R P c R Q W ] e R M b b R c _ ^ a c S ^ Z W ^] P ^ ] b d \ R a Q R \ M ] Q S ^ a a R S W ] R Q _ a ^ Q d P c b\ ] M c d a M Z U M b\ a R ] R f M O Z R b M ] Q ] M c d a M Z U M b Z W ‘ d W Q b\ b d P V M b R c V M ] R\ _ a ^ _ M P c W ^ ] b ^ S c V W a Q _ M a c W R b b d P V M b P ^ \ _ R c W c ^ a b\ M P c W e W b c W ] e R b c ^ a b\ S R Q R a M Z\ S ^ a R W U ]\ b c M c R ^ a Z ^ P M Z a R U d Z M c ^ a h M d c V ^ a W c W R b I R P M d c W ^ ] c V M c c V R b R b c M c R \ R ] c b M a R O M b R Q ^ ] \ M ] M U R \ R ] cm b P d a a R ] c Y ] ^ f Z R Q U R M ] Q R g _ R P c M c W ^ ] b M ] Q M a R b d O X R P c c ^ P R a c M W ] a W a R b d Z c b M ] Q R e R ] c b c ^ Q W S S R a \ M c R a W M Z Z h S a ^ \ c V R b c M c R \ R ] c b \ M Q R V R a R W ]Y 7 M P c ^ a b c V M c P ^ d Z Q P M d b R M P c d M Z a R b d Z c b c ^ Q W S S R a U R ] R a M Z R P ^ ] ^ \ W P\ _ ^ Z W c W P M Z ^ a a R U d Z M c ^ a h Q R e R Z ^ _ \ R ] c b\ W ] P Z d Q W ] U P V M ] U R b W ] U ^ e R a ] \ R ] c M Z _ ^ Z W P W R b a R Z M c W ] U c ^ a R S W ] R Q _ R a R U W ^ ] M Z\ ] M c W ^ ] M Z M ] Q f ^ a Z Q f W Q R Q R \ M ] Q S ^ a a R S W ] R Q _ a ^ Q d P c b\ ] M c d a M Z U M b M ] Q a R ] R f M O Z R b M ] Q a R Z M c R Q \ M a U W ] b] c V R a R U W ^ ] S R R Q b c ^ P Y b M ] Q a R Z M c R Q _ a W P W ] U Q W S S R a R ] c W M Z b] c V R b d P P R b b ^ a c W \ W ] U ^ S P ^ \ _ Z R c W ^ ] ^ S ^ ] U ^ W ] U ^ a M ] c W P W _ M c R Q _ a ^ X R P c b] c V R P ^ ] Q W c W ^ ] b ] R P R b b M a h c ^ P ^ \ _ Z R c R _ Z M ] ] R Q _ a ^ X R P c b f W c V W ] c V R R g _ R P c R Q c W \ R S a M \ R b\ W S M c M Z Z] c V R M e M W Z M O W Z W c h ^ S Q R b W a M M _ _ a ^ e M Z b f W c V a R b _ R P c c V R a R c ^] c V R W ] M O W Z W c h ^ a S M W Z d a R ^ S ^ d a X ^ W ] c e R ] c d a R _ M a c ] R a b c ^ S d ] Q c V R W a b V M a R ^ S ^ _ R a M c W ^ ] b M ] Q P ^ ] c a ^ Z] ^ d a M O W Z W c h c ^ b d P P R b b S d Z Z h W \ _ Z R \ R ] c ^ d a b d b c M W ] M O Z R R ] R a U h b c a M c R U h M ] Q _ a W ] P W _ Z R b M ] Q M P V W R e R ^ d a P Z W \ M c Ry a R Z W ] P W Q R ] c b] P V M ] U R b W ] U ^ e R a ] \ R ] c W ] P R ] c W e R b S ^ a R \ W b b W ^ ]y a R Q d P c W ^ ] _ a ^ Q d P c b M ] Q c R P V ] ^ Z ^ U W R b] R e ^ Z e W ] U b c M ] Q M a Q b S ^ a c a M P Y P a R M c R S d c d a R c R P V ] ^ Z ^ U W R b ] R P R b b M a h c ^ M P V W R e R ^ d a P Z W \ M c Ry a R Z M c R Q _ Z M ] b M ] Q U ^ M Z b] c V R M e M W Z M O W Z W c h ^ S S R R Q b c ^ P Y b S ^ c V M c P M ] \ R R c ^ d a b d b c M W ] M O W Z W c hy a R Z M c R Q b c M ] Q M a Q b] ^ d a M O W Z W c h c ^ b P M Z R _ a ^ X R P c b M ] Q c R P V ] ^ Z ^ U W R b ^ ] M P ^ \ \ R a P W M Z Z h P ^ \ _ M ] Q P ^ ] b d \ R a _ a R S R a R ] P R b\ W ] P Z d Q W ] U P ^ ] b d \ R a b d _ _ ^ a c S ^ a R \ W b b W ^ ]y a R Q d P c W ^ ] _ a ^ Q d P c b M ] Q c R P V ] ^ Z ^ U h] c V R M e M W Z M O W Z W c h ^ S P ^ b P M ] Q W Q M c R b] M ] Q c V R S M P c ^ a b b R c S ^ a c V d ] Q R a c V R V R M Q W ] U b i D W b Y 7 M P c ^ a bj M ] Q i 5 W b P Z ^ b d a R b D R U M a Q W ] U 7 ^ a f M a Qy > ^ ^ Y W ] U E c M c R M ] Q W ] ^ c V R a S W Z W ] U b f W c V c V R E 6 4Y 4 ^ _ W R b ^ S ? B 4m b E 6 4 S W Z W ] U b M a R M e M W Z M O Z R ^ ] c V R E 6 4 f R O b W c R\ ? B 4m b f R O b W c R M c V c c _[§§ W aY \ M a M c V ^ ] _ R c a ^ Z R d \Y P ^ \ ^ a O h P ^ ] c M P c W ] U ? B 4m b ; ] e R b c ^ a D R Z M c W ^ ] b ^ S S W P RY 4 ^ _ W R b ^ S ? E 6 4 f R O b W c R\ ? B > Jm b f R O b W c R M c V c c _[§§ W aY \ _ Z gY P ^ \ ^ a O h P ^ ] c M P c W ] U ? B > Jm b ; ] e R b c ^ a D R Z M c W ^ ] b ^ S S W P RY 2 ] h S ^ a f M a Qy Z ^ ^ Y W ] U b c M c R \ R ] c b _ R M Y b ^ ] Z h M b ^ S c V R Q M c R ^ S c V R M _ _ Z W P M O Z R P ^ \ \ d ] W P M c W ^ ]\ M ] Q f R d ] Q R a c M Y R ] ^ ^ O Z W U M c W ^ ] c @ R W c V R a S d c d a R Q W b c a W O d c W ^ ] ^ S c V W b \ M c R a W M Z ] ^ a c V R P ^ ] c W ] d R Q M e M W Z M O W Z W c h ^ S c V W b \ M c R a W M Z W ] M a P V W e R S ^ a \ ^ ] ^ d a f R O M ] h S d c d a R Q M c RY F V W b _ d O Z W P M c W ^ ] W b M b V M a R V ^ Z Q R ay a R ‘ d R b c R Q _ d O Z W P M c W ^ ] M ] Q W b _ d a _ ^ b R S d Z Z h S ^ P d b R Q ^ ] d ] Y ] ^ f ] S d c d a R R e F V R b c M c R \ R ] c b M ] Q M ] M Z h b W b W ] c V R b R Q ^ P d \ R ] c b a R _ a R b R ] c M U ^ ^ Q S M W c V R S S ^ a c c ^ M Q Q a R b b c V R b R a R ‘ d R b c b Q R b _ W c R b W U ] W S W P M ] : W b c ^ a W P M Z\ P d a a R ] c M ] Q S ^ a f M a Qy Z ^ ^ Y W ] U b d b c M W ] M O W Z W c hy a R Z M c R Q W ] S ^ a \ M c W ^ ] M ] Q b c M c R \ R ] c b \ M h O R O M b R Q ^ ] b c M ] Q M a Q b S ^ a \ R e ^ Z e R\ M ] Q M b b d \ _ c W ^ ] b c V M c M a R b d O X R P c c ^ P V M ] U R W ] c V R S d c d a RY I R P M d c W ^ ] c V M c c V W b W ] S ^ a \ M c W ^ ] W b M _ _ a ^ g W \ M c R\ c V R b R b c S d c d a R _ R a S ^ a \ M ] P R\ ] ^ a _ a ^ \ W b R b c V M c ^ d a U ^ M Z b f W Z Z O R \ R c\ M ] Q M a R b d O X R P c c ^ ] d \ R a ^ d b M ] Q R e ^ Z e W ] U a W b Y b M ] Q d ] P R a c M W ] c W R b M Q X d b c ^ a M O M ] Q ^ ] ^ d a P ^ \ \ W c \ R ] c b\ c M a U R c b ^ a U ^ M Z b ^ a R b c M O Z W b V ] R f ^ ] R b c ^ a R S Z R P c P V M ] U R b W ] ^ d a O d b W ] R b b\ ^ _ R a M c W ^ ] b ^ a _ Z 2 ] h a R S R a R ] P R c ^ ^ d a b d _ _ ^ a c ^ S M c V W a Qy _ M a c h ^ a U M ] W j M c W ^ ] f W c V W ] c V W b _ d O Z W P M c W ^ ] Q ^ R b ] ^ c P ^ ] b c W c d c R ^ a W \ _ Z h M ] R ] Q ^ a b R \ R ] a R S R a R ] P R b M a R W ] P Z d Q R Q S ^ a P ^ ] e R ] W R ] P R ^ ] Z h\ M ] Q f R M b b d \ R ] ^ Z W M O W Z W c h S ^ a c V W a Qy _ M a c h P ^ ] c R ] c P ^ ] c M W ] R Q ^ ] c V R a R S R a R ] P R Q
Slide 41 — 6 @ 6 D 8 K E F 2 D
6 @ 6 D 8 K E F 2 D 2 P P ^ \ _ Z W b V \ R ] c b U… S… D P @× p D N D R F Y S T @ R P [ o q k ‘ o l a q d ‘ Y ‘ [ o S r p q [ e k ‘ _ D u ^ ‘ h h ‘ k ^ ‘ @ t [ o _ c V P ^ ] b R P d c W e R B M a c ] R a ^ S c V R K R M a 2 f M a Q c V P ^ ] b R P d c W e R B M a c ] R a ^ S c V R K R M a E d b c M W ] R Q 6 g P R Z Z R ] P R 2 f M a Q R ‘ a e k ‘ o e ‘ p D N D R F Y S T @ R B ‘ o q e a e ‘ _ 2 ] M P ^ a c R b\ I M b V W ] U c ^ ] H h R M a bI 4 M ] c ^ ]\ A V W ^ H h R M a bI 8 M a h e W Z Z R\ > ^ d W b W M ] M H h R M a bI D ^ O W ] b ^ ]\ ; Z Z W ] ^ W b H h R M a bI E cY B M d Z B M a Y\ ? W ] ] R b ^ c M H h R M a bI E [ ^ e h e q e ‘ p @ ^ d e ‘ s e k c q d ‘ D N D R F Y S T @ R B d [ h h ‘ k c ‘ a l 6 e M ] b 4 W c h\ B R ] ] b h Z e M ] W M\ 3 Z d R b c ^ ] R 8 M b B a ^ P R b b W ] U 7 2 ] P V ^ a M U R\ 2 Z M b Y M\ F R a \ W ] M Z 4 V M \ _ M W U ]\ ; Z Z W ] ^ W b\ F R a \ W ] M Z 4 V M a Z R b c ^ ]\ I R b c H W a U W ] W M\ F R a \ W ] M Z 4 W ] P W ] ] M c W\ A V W ^\ F R a \ W ] M Z 4 W ] P W ] ] M c W D R ] R f M O Z R 7 d R Z b\ > > 4 H c W \ R bI < M P Y b ^ ]\ ? W P V W U M ]\ F R a \ W ] M Z > M ] b W ] U\ ? W P V W U M ]\ F R a \ W ] M Z ? cY H R a ] ^ ]\ ; ] Q W M ] M\ F R a \ W ] M Z ? d ] P W R\ ; ] Q W M ] M\ F R a \ W ] M Z @ M b V e W Z Z R\ F R ] ] R b b R R\ b c F R a \ W ] M Z @ M b V e W Z Z R\ F R ] ] R b b R R\ 3 ^ a Q R M d g F R a \ W ] M Z @ M b V e W Z Z R\ F R ] ] R b b R R\ 5 ^ f ] c ^ f ] F R a \ W ] M Z K ^ d ] U b c ^ f ]\ A V W ^\ F R a \ W ] M Z