Offi-Guid-TOEFL

83)*0 M&8 0MWXIRMRK

;LEX HSIW XLI TVSJIWWSV MQTP] EFSYX XLI REQI q1ERMPE LIQTr#

-X MW E GSQQIVGMEP FVERH REQI 4EVX SJ XLI REQI MW MRETTVSTVMEXI 8LI REQI LEW VIGIRXP] GLERKIH 8LI REQI [EW JMVWX YWIH MR XLI tW

;L] HSIW XLI TVSJIWWSV QIRXMSR XLI +SPHIR +EXI &VMHKI#

8S HIQSRWXVEXI E HMWEHZERXEKI SJ WXIIP GEFPIW 8S KMZI ER I\EQTPI SJ XLI GVIEXMZI YWI SJ GSPSV 8S WLS[ XLEX WXIIP GEFPIW EVI EFPI XS VIWMWX WEPX [EXIV 8S KMZI ER I\EQTPI SJ E YWI SJ 1ERMPE LIQT

%GGSVHMRK XS XLI TVSJIWWSV [LEX [EW XLI QEMR VIEWSR XLEX QER] WLMTW YWIH 1ERMPE LIQT VSTIW MRWXIEH SJ WXIIP GEFPIW#

1ERMPE LIQT [EW GLIETIV 1ERMPE LIQT [EW IEWMIV XS TVSHYGI 1ERMPE LIQT MW QSVI VIWMWXERX XS WEPX [EXIV 1ERMPE LIQT MW PMKLXIV MR [IMKLX

%GGSVHMRK XS XLI PIGXYVI [LEX EVI X[S [E]W XS MRGVIEWI XLI WXVIRKXL SJ VSTI QEHI JVSQ 1ERMPE LIQT JMFIVW#

'SEX XLI JMFIVW [MXL ^MRG FEWIH TEMRX 'SQFMRI XLI JMFIVW MRXS FYRHPIW 7SEO FYRHPIW SJ JMFIVW MR WEPX [EXIV 8[MWX FYRHPIW SJ JMFIVW

46%'8-') 7)8 7'6-48 %2( %27;)67

8VEGO 0MWXIRMRK 7GVMTX

2EVVEXSV

0MWXIR XS TEVX SJ E PIGXYVI JVSQ E &SXER] GPEWW

4VSJIWWSV

,M IZIV]SRI +SSH XS WII ]SY EPP XSHE] %GXYEPP] - I\TIGXIH XLI TSTYPEXMSR XS FI E PSX PS[IV XSHE] -X X]TMGEPP] VYRW FIX[IIR ERH TIVGIRX SR XLI HE] XLI VIWIEVGL TETIV MW HYI 9Q - [EW LSTMRK XS LEZI ]SYV I\EQW FEGO XSHE] FYX YL XLI WMXYEXMSR [EW XLEX - [IRX E[E] JSV XLI [IIOIRH ERH - [EW WYTTSWIH XS KIX MR ]IWXIVHE] EX JMZI ERH - I\TIGXIH XS JYPP] GSQTPIXI EPP XLI I\EQW F] QMHRMKLX SV WS [LMGL MW XLI XMQI XLEX - YWYEPP] KS XS FIH FYX Q] JPMKLX [EW HIPE]IH ERH - IRHIH YT RSX KIXXMRK MR YRXMP SRI StGPSGO MR XLI QSVRMRK %R][E] -tPP HS Q] FIWX XS LEZI XLIQ JMRMWLIH F] XLI RI\X XMQI [I QIIX

83)*0 M&8 0MWXIRMRK

3/ -R XLI PEWX GPEWW [I WXEVXIH XEPOMRK EFSYX YWIJYP TPERX JMFIVW -R TEVXMGYPEV [I XEPOIH EFSYX GSXXSR JMFIVW [LMGL [I WEMH [IVI ZIV] YWIJYP RSX SRP] MR XLI XI\XMPI MR HYWXV] FYX EPWS MR XLI GLIQMGEP MRHYWXV] ERH MR XLI TVSHYGXMSR SJ QER] TVSHYGXW WYGL EW TPEWXMGW TETIV I\TPSWMZIW ERH WS SR 8SHE] [ItPP GSRXMRYI XEPOMRK EFSYX YWI JYP JMFIVW ERH [ItPP FIKMR [MXL E JMFIV XLEXtW GSQQSRP] ORS[R EW q1ERMPE LIQT r

2S[ JSV WSQI WXVERKI VIEWSR QER] TISTPI FIPMIZI XLEX 1ERMPE LIQT MW E LIQT TPERX &YX 1ERMPE LIQT MW RSX VIEPP] LIQT -XtW EGXYEPP] E QIQFIV SJ XLI FERERE JEQ MP]hMX IZIR FIEVW PMXXPI FERERE WLETIH JVYMXW 8LI q1ERMPEr TEVX SJ XLI REQI QEOIW WIRWI FIGEYWI 1ERMPE LIQT MW TVSHYGIH GLMIJP] MR XLI 4LMPMTTMRI -WPERHW ERH SJ GSYVWI XLI GETMXEP GMX] SJ XLI 4LMPMTTMRIW MW 1ERMPE

2S[ EW JMFIVW KS 1ERMPE LIQT JMFIVW EVI ZIV] PSRK 8LI] GER IEWMP] FI WIZIVEP JIIX MR PIRKXL ERH XLI]tVI EPWS ZIV] WXVSRK ZIV] JPI\MFPI 8LI] LEZI SRI QSVI GLEVEG XIVMWXMG XLEXtW ZIV] MQTSVXERX ERH XLEX MW XLEX XLI] EVI I\GITXMSREPP] VIWMWXERX XS WEPX [EXIV %RH XLMW GSQFMREXMSR SJ GLEVEGXIVMWXMGWhPSRK WXVSRK JPI\MFPI VIWMWXERX XS WEPX [EXIVhQEOIW 1ERMPE LIQT E KVIEX QEXIVMEP JSV VSTIW IWTIGMEPP] JSV VSTIW XLEX EVI KSRRE FI YWIH SR SGIER KSMRK WLMTW -R JEGX F] XLI IEVP] tW IZIR XLSYKL WXIIP GEFPIW [IVI EZEMPEFPI QSWX WLMTW MR XLI 9RMXIH 7XEXIW 2EZ] [IVI RSX QSSVIH [MXL WXIIP GEFPIW XLI] [IVI QSSVIH [MXL 1ERMPE LIQT VSTIW

2S[ [L] [EW XLEX# ;IPP XLI QEMR VIEWSR [EW XLEX WXIIP GEFPIW HIKVEHI ZIV]

ZIV] UYMGOP] MR GSRXEGX [MXL WEPX [EXIV -J ]SYtZI IZIV FIIR XS 7ER *VERGMWGS ]SY ORS[

XLEX XLI +SPHIR +EXI &VMHKI MW VIH %RH MXtW VIH FIGEYWI SJ XLI ^MRG TEMRX XLEX KSIW SR

XLSWI WXEMRPIWW WXIIP GEFPIW 8LEX MJ XLI] WXEVX EX SRI IRH SJ XLI FVMHKI ERH XLI] [SVO

XS XLI SXLIV IRH F] XLI XMQI XLI] JMRMWL MXtW EPVIEH] XMQI XS KS FEGO ERH WXEVX TEMRXMRK

XLI FIKMRRMRK SJ XLI FVMHKI EKEMR FIGEYWI XLI FVMHKI [EW FYMPX [MXL WXIIP GEFPIW ERH

WXIIP GEFPIW GERtX XEOI XLI WEPX EMV YRPIWW XLI]tVI XVIEXIH VITIEXIHP] [MXL E ^MRG FEWIH

TEMRX

3R XLI SXLIV LERH TPERX TVSHYGXW PMOI 1ERMPE LIQT ]SY GER HVEK XLVSYKL XLI SGIER JSV [IIOW SR IRH -J ]SY [ERRE XMI ]SYV ERGLSV XS MX ERH HVST MX VMKLX MRXS XLI SGIER XLEXtW RS TVSFPIQ FIGEYWI TPERX JMFIVW GER WXERH YT JSV QSRXLW IZIR ]IEVW MR HMVIGX GSRXEGX [MXL WEPX [EXIV 3/ 7S LS[ HS ]SY XEOI TPERX JMFIVW XLEX MRHMZMHYEPP] ]SY GSYPH FVIEO [MXL ]SYV LERHW ERH XYVR XLIQ MRXS E VSTI XLEXtW WXVSRK IRSYKL XS QSSV E WLMT XLEX [IMKLW XLSYWERHW SJ XSRW# ;IPP [LEX ]SY HS MW ]SY I\XVEGX XLIWI PSRK JMFIVW JVSQ XLI 1ERMPE LIQT TPERX ERH XLIR ]SY XEOI WIZIVEP SJ XLIWI JMFIVW ERH ]SY KVSYT XLIQ MRXS E FYRHPI FIGEYWI F] KVSYTMRK XLI JMFIVW ]SY KVIEXP] MRGVIEWI XLIMV FVIEOMRK WXVIRKXLhXLEX FYRHPI SJ JMFIVW MW QYGL WXVSRKIV XLER ER] SJ XLI MRHM ZMHYEP JMFIVW XLEX GSQTSWI MX %RH XLIR ]SY XEOI XLEX FYRHPI SJ JMFIVW ERH ]SY X[MWX MX E PMXXPI FMX FIGEYWI F] X[MWXMRK MX ]SY MRGVIEWI MXW FVIEOMRK WXVIRKXL IZIR QSVI %RH XLIR ]SY XEOI WIZIVEP SJ XLIWI PMXXPI FYRHPIW ERH ]SY KVSYT ERH X[MWX XLIQ MRXS FMKKIV FYRHPIW [LMGL ]SY XLIR KVSYT ERH X[MWX MRXS IZIR FMKKIV FYRHPIW ERH WS SR YRXMP IZIRXYEPP] ]SY IRH YT [MXL E ZIV] ZIV] WXVSRK VSTI

83)*0 M&8 0MWXIRMRK

46%'8-') 7)8 %27;)67 %2( )<40%2%8-327

5YIWXMSRW PMOI XLMW SRI XLEX EWO EFSYX [LEX XLI TVSJIWWSV QEMRP] HMWGYWWIW EVI +MWX 'SRXIRX UYIWXMSRW 8LMW UYIWXMSR EWOW [LEX EWTIGX SJ 1ERMPE LIQT JMFIVW EVI QEMRP] HMWGYWWIH WS MX LEW E REVVS[IV JSGYW XLER SXLIV +MWX 'SR XIRX UYIWXMSRW 8LI TVSJIWWSV QEMRP] HMWGYWWIW GLEVEGXIVMWXMGW SJ 1ERMPE LIQT ERH LS[ XLIWI GLEVEGXIVMWXMGW QEOI 1ERMPE LIQT YWIJYP XS XLI WLMTTMRK MRHYWXV] 8LI FIWX ERW[IV XS XLMW UYIWXMSR MW GLSMGI

83)*0 M&8 7TIEOMRK

-RXVSHYGXMSR XS XLI 7TIEOMRK 7IGXMSR

8LI 83)*0 M&8 7TIEOMRK WIGXMSR MW HIWMKRIH XS IZEPYEXI XLI )RKPMWL WTIEOMRK TVSJMGMIRG] SJ WXYHIRXW [LSWI REXMZI PERKYEKI MW RSX )RKPMWL FYX [LS [ERX XS TYVWYI YRHIVKVEHYEXI SV KVEHYEXI WXYH] MR ER )RKPMWL WTIEOMRK GSRXI\X 0MOI EPP XLI SXLIV WIGXMSRW SJ XLI 83)*0 M&8 XLI 7TIEOMRK WIGXMSR MW HIPMZIVIH ZME GSQ TYXIV

-R XLI 7TIEOMRK WIGXMSR ]SY [MPP FI EWOIH XS WTIEO SR E ZEVMIX] SJ XSTMGW XLEX HVE[ SR TIVWSREP I\TIVMIRGI GEQTYW FEWIH WMXYEXMSRW ERH EGEHIQMG X]TI GSR XIRX QEXIVMEP 8LIVI EVI WM\ UYIWXMSRW 8LI JMVWX X[S UYIWXMSRW EVI GEPPIH -RHITIRHIRX 7TIEOMRK 8EWOW FIGEYWI XLI] VIUYMVI ]SY XS HVE[ IRXMVIP] SR ]SYV S[R MHIEW STMRMSRW ERH I\TIVMIRGIW [LIR VIWTSRHMRK 8LI SXLIV JSYV UYIWXMSRW EVI -RXIKVEXIH 7TIEOMRK 8EWOW -R XLIWI XEWOW ]SY [MPP PMWXIR XS E GSRZIVWEXMSR SV XS ER I\GIVTX JVSQ E PIGXYVI SV VIEH E TEWWEKI ERH XLIR PMWXIR XS E FVMIJ HMW GYWWMSR SV PIGXYVI I\GIVTX FIJSVI ]SY EVI EWOIH XLI UYIWXMSR 8LIWI UYIWXMSRW EVI GEPPIH -RXIKVEXIH 8EWOW FIGEYWI XLI] VIUYMVI XLEX ]SY MRXIKVEXI ]SYV )RKPMWL PERKYEKI WOMPPWhPMWXIRMRK ERH WTIEOMRK SV PMWXIRMRK VIEHMRK ERH WTIEOMRK -R VIWTSRHMRK XS XLIWI UYIWXMSRW ]SY [MPP FI EWOIH XS FEWI ]SYV WTSOIR VIWTSRWI SR XLI MRJSVQEXMSR MR XLI PMWXIRMRK TEWWEKI SV SR FSXL XLI PMWXIRMRK TEWWEKI ERH XLI VIEHMRK TEWWEKI XSKIXLIV

8MT

*SV EPP XLI UYIWXMSRW MR XLI XIWX ]SY EVI KMZIR FIX[IIR XS WIGSRHW XS VIWTSRH 7S [LIR TVEGXMGMRK XMQI ]SYV WTIIGL EGGSVHMRKP]

8LI 7TIEOMRK WIGXMSR XEOIW ETTVS\MQEXIP] QMRYXIW 6IWTSRWI XMQI EPPS[IH JSV IEGL UYIWXMSR VERKIW JVSQ XS WIGSRHW *SV 7TIEOMRK UYIWXMSRW XLEX MRZSPZI PMWXIRMRK ]SY [MPP LIEV WLSVX WTSOIR TEWWEKIW SV GSRZIVWEXMSRW SR LIEH TLSRIW *SV 7TIEOMRK UYIWXMSRW XLEX MRZSPZI VIEHMRK ]SY [MPP VIEH WLSVX [VMXXIR TEWWEKIW SR ]SYV GSQTYXIV WGVIIR =SY GER XEOI RSXIW XLVSYKLSYX XLI 7TIEOMRK

83)*0 M&8 7TIEOMRK

WIGXMSR ERH YWI ]SYV RSXIW [LIR VIWTSRHMRK XS XLI 7TIEOMRK UYIWXMSRW *SV IEGL SJ XLI WM\ UYIWXMSRW ]SY [MPP FI KMZIR E WLSVX XMQI XS TVITEVI E VIWTSRWI =SY [MPP ERW[IV IEGL SJ XLI UYIWXMSRW F] WTIEOMRK MRXS E QMGVSTLSRI =SYV VIWTSRWIW [MPP FI VIGSVHIH ERH WIRX XS E WGSVMRK GIRXIV ERH XLI] [MPP FI WGSVIH F] I\TIVMIRGIH VEXIVW

8MT

*EQMPMEVM^I ]SYVWIPJ [MXL XLI WGSVMRK VYFVMG -X [MPP LIPT ]SY YRHIVWXERH LS[ VIWTSRWIW EVI IZEPYEXIH

=SYV VIWTSRWIW [MPP FI WGSVIH LSPMWXMGEPP] 8LMW QIERW XLEX XLI VEXIV [MPP PMWXIR JSV ZEVMSYW JIEXYVIW MR ]SYV VIWTSRWI ERH EWWMKR E WMRKPI WGSVI FEWIH SR XLI SZIV EPP WOMPP ]SY HMWTPE] MR ]SYV ERW[IV %PXLSYKL WGSVMRK GVMXIVME ZEV] WSQI[LEX HITIRHMRK SR XLI UYIWXMSR XLI VEXIVW [MPP KIRIVEPP] FI PMWXIRMRK JSV XLI JSPPS[MRK JIEXYVIW MR ]SYV ERW[IV

F(IPMZIV] ,S[ GPIEV ]SYV WTIIGL MW +SSH VIWTSRWIW EVI XLSWI MR [LMGL XLI WTIIGL MW JPYMH ERH GPIEV [MXL KSSH TVSRYRGMEXMSR REXYVEP TEGMRK ERH

REXYVEP WSYRHMRK MRXSREXMSR TEXXIVRW

F0ERKYEKI 9WI ,S[ IJJIGXMZIP] ]SY YWI KVEQQEV ERH ZSGEFYPEV] XS GSRZI] ]SYV MHIEW 6EXIVW [MPP FI PMWXIRMRK JSV LS[ [IPP ]SY GER GSRXVSP FSXL FEWMG ERH QSVI GSQTPI\ PERKYEKI WXVYGXYVIW ERH YWI ETTVSTVMEXI ZSGEFYPEV]

F8STMG (IZIPSTQIRX ,S[ JYPP] ]SY ERW[IV XLI UYIWXMSR ERH LS[ GSLIV IRXP] ]SY TVIWIRX ]SYV MHIEW +SSH VIWTSRWIW KIRIVEPP] YWI EPP SV QSWX SJ XLI XMQI EPPSXXIH ERH XLI VIPEXMSRWLMT FIX[IIR MHIEW ERH XLI TVSKVIWWMSR JVSQ SRI MHIE XS XLI RI\X MW GPIEV ERH IEW] XS JSPPS[

-X MW MQTSVXERX XS RSXI XLEX VEXIVW HS RSX I\TIGX ]SYV VIWTSRWI XS FI TIVJIGX ERH LMKL WGSVMRK VIWTSRWIW QE] GSRXEMR SGGEWMSREP IVVSVW ERH QMRSV PETWIW MR ER] SJ XLI XLVII EVIEW HIWGVMFIH EFSZI

9WI XLI WEQTPI -RHITIRHIRX ERH -RXIKVEXIH 7TIEOMRK VYFVMGW SR TEKIW XSXS WII LS[ VIWTSRWIW EVI WGSVIH

7TIEOMRK 5YIWXMSR 8]TIW

-RHITIRHIRX 5YIWXMSRW ERH

5YIWXMSR

*SV XLMW XEWO ]SY [MPP FI EWOIH XS WTIEO EFSYX E TIVWSR TPEGI SFNIGX SV IZIRX XLEX MW JEQMPMEV XS ]SY =SY [MPP FI KMZIR WIGSRHW XS WTIEO ]SYV VIWTSRWI 8LI XSTMGW JSV XLMW UYIWXMSR [MPP ZEV] FYX ]SY [MPP EP[E]W FI EWOIH XS FEWI ]SYV VIWTSRWI SR TIVWSREP I\TIVMIRGI SV E JEQMPMEV XSTMG =SY QMKLX JSV I\EQTPI FI EWOIH EFSYX E TPEGI ]SY PMOI XS ZMWMX ER MQTSVXERX IZIRX MR ]SYV PMJI E TIVWSR [LS MRJPYIRGIH ]SY SV ER EGXMZMX] XLEX ]SY IRNS]

83)*0 M&8 7TIEOMRK

8MT

1EOI E PMWX SJ JEQMPMEV XSTMGW ERH TVEGXMGI WTIEOMRK EFSYX XLIQ =SY QE] [ERX XS FIKMR F] HIWGVMFMRK E JEQMPMEV TPEGI SV VIGSYRXMRK E TIVWSREP I\TIVMIRGI

8LMW UYIWXMSR [MPP EP[E]W EWO ]SY FSXL XS HIWGVMFI WSQIXLMRK JSV I\EQTPI ER MQTSVXERX IZIRX E JEZSVMXI EGXMZMX] ER MRJPYIRXMEP TIVWSR ERH XS KMZI VIEWSRWh XS I\TPEMR [L] XLI IZIRX [EW MQTSVXERX [L] XLI EGXMZMX] MW SRI SJ ]SYV JEZSVMXIW LS[ XLI TIVWSR MRJPYIRGIH ]SY IXG &I WYVI XS VIWTSRH XS EPP TEVXW SJ XLI UYIW XMSR =SYV VIWTSRWI WLSYPH MRGPYHI WTIGMJMG HIXEMPW ERH SV I\EQTPIW FIGEYWI XLI] [MPP QEOI ]SYV HIWGVMTXMSR MRJSVQEXMZI ERH ]SYV VIEWSRW GSQTVILIRWMFPI

8MT

;LIR KMZMRK HIWGVMTXMSRW XV] XS EZSMH TVIWIRXMRK PSRK PMWXW WMRGI XLMW [MPP VIHYGI XLI XMQI ]SY LEZI EZEMPEFPI XS IPEFSVEXI SR XLI VIWX SJ ]SYV VIWTSRWI

%JXIV ]SY EVI TVIWIRXIH [MXL XLI UYIWXMSR ]SY [MPP LEZI WIGSRHW XS TVITEVI ER ERW[IV =SY QE] [ERX XS NSX HS[R E JI[ FVMIJ RSXIW EFSYX [LEX ]SY [MPP [ERX XS WE] FYX ]SY WLSYPH RSX XV] XS [VMXI SYX E JYPP ERH GSQTPIXI ERW[IV 8LIVI [MPP RSX FI IRSYKL XMQI JSV ]SY XS HS XLEX ERH VEXIVW [ERX XS ORS[ LS[ [IPP ]SY GER

WTIEO MR VIWTSRWI XS E UYIWXMSR RSX LS[ [IPP ]SY GER VIEH EPSYH JVSQ WSQIXLMRK ]SY LEZI [VMXXIR -J ]SY HS NSX HS[R RSXIW HYVMRK XLI TVITEVEXMSR XMQI ]SY WLSYPH RSX VIP] SR XLIQ XSS QYGL MR KMZMRK ]SYV ERW[IV

8LI UYIWXMSR [MPP FI VIEH EPSYH F] E REVVEXSV ERH [MPP VIQEMR SR XLI WGVIIR XLVSYKLSYX XLI XMQI ]SY EVI KMZMRK ]SYV VIWTSRWI

)\EQTPI 8LI JSPPS[MRK I\EQTPI WLS[W LS[ E UYIWXMSR SJ XLMW X]TI [MPP ETTIEV SR ]SYV GSQTYXIV WGVIIR

'LSSWI E XIEGLIV ]SY EHQMVI ERH I\TPEMR [L] ]SY EHQMVI LMQ SV LIV 4PIEWI MRGPYHI WTIGMJMG I\EQTPIW ERH HIXEMPW MR ]SYV I\TPEREXMSR

4VITEVEXMSR 8MQI 7IGSRHW 6IWTSRWI 8MQI 7IGSRHW

=SY [MPP FI XSPH [LIR XS FIKMR XS TVITEVI ]SYV VIWTSRWI ERH [LIR XS FIKMR WTIEOMRK %JXIV XLI UYIWXMSR MW VIEH E q4VITEVEXMSR 8MQIr GPSGO [MPP ETTIEV FIPS[ XLI UYIWXMSR ERH FIKMR XS GSYRX HS[R JVSQ WIGSRHW %X XLI IRH SJWIGSRHW ]SY [MPP LIEV E WLSVX FIIT %JXIV XLI FIIT XLI GPSGO [MPP GLERKI XS VIEH q6IWTSRWI 8MQIr ERH [MPP FIKMR XS GSYRX HS[R JVSQ WIGSRHW ;LIR XLI VIWTSRWI XMQI LEW IRHIH VIGSVHMRK [MPP WXST ERH E RI[ WGVIIR [MPP ETTIEV EPIVXMRK ]SY XLEX XLI VIWTSRWI XMQI LEW IRHIH

83)*0 M&8 7TIEOMRK

8MT

6IGSVH ]SYV S[R ZSMGI XS QEOI WYVI XLEX ]SYV TVSRYRGMEXMSR ERH JPYIRG] SJ WTIIGL EVI GPIEV 8LIR XEOI XLI VIGSVHMRK XS ER )RKPMWL XIEGLIV SV XYXSV [LS GER IZEPYEXI ]SYV VIWTSRWI YWMRK XLI 83)*0 M&8 7TIEOMRK VYFVMG

8S ERW[IV E UYIWXMSR PMOI XLI SRI EFSZI ]SY [SYPH TVSFEFP] FIKMR F] FVMIJP] MHIRXMJ]MRK XLI XIEGLIV ]SY EVI KSMRK XS WTIEO EFSYXh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hSGGEWMSRW [LIR ]SY RSXMGIH MX XLI IJJIGX MX LEH SR ]SY ERH WS JSVXL 8LIVI EVI QER] QER] [E]W XS ERW[IV XLMW UYIWXMSR ERH SJ GSYVWI XLIVI MW RS qVMKLXr SV q[VSRKr ERW[IV 8LI MQTSVXERX XLMRK MJ ]SY [IVI XS VIGIMZI XLMW TEVXMGYPEV UYIWXMSR MW XLEX ]SY GSQQYRMGEXI IRSYKL MRJSVQEXMSR EFSYX XLI TIVWSR XS LIPT XLI VEXIV YRHIVWXERH [L] ]SY JMRH XLEX TIVWSR EHQMVEFPI

5YIWXMSR

-R XLMW WIGSRH -RHITIRHIRX 7TIEOMRK 8EWO ]SY [MPP FI TVIWIRXIH [MXL X[S TSWWM FPI EGXMSRW WMXYEXMSRW SV STMRMSRW 8LIR ]SY [MPP FI EWOIH XS WE] [LMGL SJ XLI EGXMSRW SV WMXYEXMSRW ]SY XLMRO MW TVIJIVEFPI SV [LMGL STMRMSR ]SY XLMRO MW QSVI NYWXMJMIH ERH XLIR I\TPEMR ]SYV GLSMGI F] TVSZMHMRK VIEWSRW ERH HIXEMPW %W [MXL UYIWXMSR ]SY [MPP LEZI WIGSRHW XS KMZI ]SYV VIWTSRWI

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hJSV I\EQTPI EFSYX [LIXLIV SV RSX XIPIZMWMSR LEW FIIR E FIRIJMX XS LYQERMX]hERH ]SY [SYPH XLIR FI EWOIH [LMGL SJ XLI X[S STMRMSRW ]SY EKVII [MXL

8LMW UYIWXMSR [MPP EP[E]W EWO ]SY XS WXEXI [LEX ]SYV GLSMGI SV TVIJIVIRGI SV STMRMSR MW ERH XS I\TPEMR [L]hMR SXLIV [SVHW XS WYTTSVX ]SYV ERW[IV [MXL VIE WSRW I\TPEREXMSRW HIXEMPW ERH SV I\EQTPIW -X MW MQTSVXERX XLEX ]SY VIWTSRH XS EPP TEVXW SJ XLI UYIWXMSR ERH XLEX ]SY EVI GPIEV EFSYX [LEX ]SYV STMRMSR MW ERH KMZI VIEWSRW XLEX [MPP GSQQYRMGEXI [L] ]SY LEZI QEHI XLI GLSMGI ]SY HMH -X HSIW RSX QEXXIV [LMGL SJ XLI X[S EGXMSRW WMXYEXMSRW SV STMRMSRW ]SY GLSSWI ERH EW [MXL 5YIWXMSR XLIVI MW RS qVMKLXr SV q[VSRKr ERW[IV =SYV VIWTSRWI [MPP FI VEXIH RSX SR [LMGL SJ XLI EPXIVREXMZIW ]SY GLSSWI FYX VEXLIV SR LS[ [IPP ]SY I\TPEMR ]SYV GLSMGI F] WYTTSVXMRK MX [MXL VIEWSRW ERH HIXEMPW

83)*0 M&8 7TIEOMRK

8MT

3RI KSSH I\IVGMWI [SYPH FI XS WXEXI ER STMRMSR SV E TVIJIVIRGI ERH XLIR TVIWIRX WYTTSVXMRK VIEWSRW GPIEVP] ERH [MXL HIXEMP

0MOI 5YIWXMSR XLMW UYIWXMSR [MPP ETTIEV SR ]SYV GSQTYXIV WGVIIR ERH FI VIEH EPSYH EX XLI WEQI XMQI F] XLI REVVEXSV ERH ]SY [MPP FI KMZIR WIGSRHW XS TVITEVI ER ERW[IV =SY WLSYPH YWI XLMW XMQI XS XLMRO EFSYX [LEX ]SY [ERX XS WE] SVKERM^I ]SYV XLSYKLXW ERH NSX HS[R WSQI RSXIW MJ ]SY JIIP XLMW [MPP FI LIPTJYP &YX VIQIQFIV ]SY WLSYPH RSX XV] XS [VMXI SYX E JYPP ERW[IVhNYWX E JI[ [SVHW SV TLVEWIW XLEX QE] LIPT VIQMRH ]SY SJ XLI HMVIGXMSR ]SY [ERX XS XEOI MR KMZMRK ]SYV VIWTSRWI

8MT

7XYH] ERH TVEGXMGI [SVHW ERH I\TVIWWMSRW GSQQSRP] YWIH XS I\TVIWW STMRMSRW WYGL EW

-R Q] STMRMSR - FIPMIZI

)\EQTPI 8LI JSPPS[MRK I\EQTPI WLS[W LS[ E UYIWXMSR SJ XLMW X]TI [MPP ETTIEV SR ]SYV GSQTYXIV WGVIIR

7SQI WXYHIRXW WXYH] JSV GPEWWIW MRHMZMHYEPP] 3XLIVW WXYH] MR KVSYTW ;LMGL QIXLSH SJ WXYH]MRK HS ]SY XLMRO MW FIXXIV JSV WXYHIRXW ERH [L]#

4VITEVEXMSR 8MQI 7IGSRHW 6IWTSRWI 8MQI 7IGSRHW

%JXIV ]SY LIEV XLI UYIWXMSR ]SY [MPP FI XSPH [LIR XS FIKMR XS TVITEVI ]SYV VIWTSRWI ERH [LIR XS FIKMR WTIEOMRK %W [MXL UYIWXMSR E q4VITEVEXMSR 8MQIr GPSGO [MPP ETTIEV FIPS[ XLI UYIWXMSR ERH FIKMR XS GSYRX HS[R JVSQ WIGSRHW%X XLI IRH SJ WIGSRHW ]SY [MPP LIEV E WLSVX FIIT %JXIV XLI FIIT XLI GPSGO [MPP GLERKI XS VIEH q6IWTSRWI 8MQIr ERH [MPP FIKMR XS GSYRX HS[R JVSQ WIGSRHW ;LIR XLI VIWTSRWI XMQI LEW IRHIH VIGSVHMRK [MPP WXST ERH E RI[ WGVIIR [MPP ETTIEV EPIVXMRK ]SY XLEX XLI VIWTSRWI XMQI LEW IRHIH

-R ERW[IVMRK E UYIWXMSR PMOI XLMW SRI MX MW MQTSVXERX XLEX ]SY FIKMR F] GPIEVP] WXEXMRK [LEX ]SYV STMRMSR MW HS ]SY XLMRO MX MW FIXXIV JSV WXYHIRXW XS WXYH] JSV GPEWWIW MRHMZMHYEPP] SV HS ]SY XLMRO MX MW FIXXIV JSV XLIQ XS WXYH] MR KVSYTW# -J ]SY HS RSX FIKMR F] WXEXMRK ]SYV STMRMSR MX QE] FI HMJJMGYPX JSV WSQISRI PMWXIR MRK XS ]SYV VIWTSRWI XS YRHIVWXERH ]SYV VIEWSRW JSV LSPHMRK XLEX STMRMSR %W JSV XLI VIEWSRW ]SY KMZI MR WYTTSVX SJ ]SYV STMRMSR XLI] GER ZEV] [MHIP] ERH QE] FI FEWIH SR ]SYV S[R I\TIVMIRGI ERH SFWIVZEXMSRW *SV I\EQTPI MJ XLI TSWMXMSR ]SY

83)*0 M&8 7TIEOMRK

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tW PIGXYVI RSXIW ERH XLMW [E] XLI] GER QEOI WYVI IZIV]SRI YRHIVWXERHW EPP XLI QEXIVMEP XLEX LEW FIIR GSZ IVIH MR E GSYVWI 8LIVI EVI QER] KSSH VIEWSRW JSV IMXLIV GLSMGI -R JEGX MX QE] FI ]SYV STMRMSR XLEX MR WSQI GEWIW MX MW FIXXIV XS WXYH] MR KVSYTW ERH MR SXLIV GEWIW MX MW FIXXIV XS WXYH] EPSRI -J XLEX MW XLI STMRMSR ]SY [SYPH PMOI XS I\TVIWW ]SY WLSYPH I\TPEMRh[MXL VIEWSRW I\EQTPIW ERH SV WTIGMJMG HIXEMPWh[L] KVSYT WXYH] MW FIXXIV MR WSQI GEWIW ERH MRHMZMHYEP WXYH] MW FIXXIV MR SXLIVW ,IVI EKEMR XLIVI MW RS qVMKLXr SV q[VSRKr ERW[IV XS E UYIWXMSR PMOI XLMW 8LI MQTSVXERX XLMRK MW XS GPIEVP] GSQQYRMGEXI XS XLI TIVWSR [LS [MPP FI PMWXIRMRK XS ]SYV VIWTSRWI [LEX ]SYV STMRMSR MW ERH I\TPEMR XLI VIEWSRW ]SY LEZI JSV LSPHMRK MX

8MT

4VEGXMGI QEOMRK E VIGSQQIRHEXMSR ERH I\TPEMRMRK [L] MX MW ]SYV TVIJIVVIH GSYVWI SJ EGXMSR

-RXIKVEXIH 0MWXIRMRK 6IEHMRK 7TIEOMRK 5YIWXMSRW ERH

5YIWXMSR

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

8LI VIEHMRK TEWWEKI GSYPH XEOI ZEVMSYW JSVQW *SV I\EQTPI MX GSYPH FI E FYP PIXMR JVSQ XLI EHQMRMWXVEXMSR SJ E YRMZIVWMX] VIKEVHMRK E RI[ TEVOMRK VYPI SV E PIXXIV XS XLI IHMXSV SJ E GEQTYW RI[WTETIV VIWTSRHMRK XS E RI[ YRMZIVWMX] TSPMG] VIWXVMGXMRK XLI YWI SJ VEHMSW MR HSVQMXSV] VSSQW SV ER EVXMGPI JVSQ XLI GEQTYW RI[WTETIV HMWGYWWMRK E TVSTSWEP XS FYMPH E RI[ JSSXFEPP WXEHMYQ -R EHHMXMSR XS