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slide-1
SLIDE 1

❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ❡✲♠❛✐❧✿ r❛❧❡✳♥✐❦♦❧✐❝❅♠❡tr♦♣♦❧✐t❛♥✳❛❝✳rs

slide-2
SLIDE 2

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲❍❨ ▲❊❆❘◆ ▲

❆❚

❊❳❄

❙t✉❞❡♥ts t♦❞❛② ❛r❡ ♥♦t ✐♥t❡r❡st✐♥❣ ✐♥ ❧❡❝t✉r❡s t❤❛t ❛r❡ ❤❡❧❞ ✐♥ t❤❡ tr❛❞✐t✐♦♥❛❧ ♠❛♥♥❡r ✕ t❤❡② ✇❛♥t ❛ s❤♦rt✱ ❡✛❡❝t✐✈❡ ♠✉❧t✐♠❡❞✐❛ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ❡①❛♠♣❧❡s ❛♥❞ ❛♣♣❧✐❝❛t✐♦♥s ■♥ t❤❡ ❝♦♠✐♥❣ ②❡❛rs ✐♥ ♣r✐♠❛r② ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧s ✐♥ ❙❡r❜✐❛ ✇✐❧❧ ❜❡ ✐♥tr♦❞✉❝❡❞ ❛ ❞✐st❛♥❝❡ ❧❡❛r♥✐♥❣ ✭❡✲❧❡❛r♥✐♥❣✮✱ ❚❤❡ ❜✐rt❤r❛t❡ ✐♥ ❙❡r❜✐❛ r❛♣✐❞❧② ❞❡❝r❡❛s✐♥❣ ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧ ✇✐❧❧ ❜❡ ✐♥ ❛ ♣♦s✐t✐♦♥ t♦ ✜❣❤t ❢♦r ❡✈❡r② st✉❞❡♥t ✕ ❜❡tt❡r t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s✱ ♠♦r❡ st✉❞❡♥ts

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-3
SLIDE 3

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲❍❨ ▲❊❆❘◆ ▲

❆❚

❊❳❄

❙t✉❞❡♥ts t♦❞❛② ❛r❡ ♥♦t ✐♥t❡r❡st✐♥❣ ✐♥ ❧❡❝t✉r❡s t❤❛t ❛r❡ ❤❡❧❞ ✐♥ t❤❡ tr❛❞✐t✐♦♥❛❧ ♠❛♥♥❡r ✕ t❤❡② ✇❛♥t ❛ s❤♦rt✱ ❡✛❡❝t✐✈❡ ♠✉❧t✐♠❡❞✐❛ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ❡①❛♠♣❧❡s ❛♥❞ ❛♣♣❧✐❝❛t✐♦♥s ■♥ t❤❡ ❝♦♠✐♥❣ ②❡❛rs ✐♥ ♣r✐♠❛r② ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧s ✐♥ ❙❡r❜✐❛ ✇✐❧❧ ❜❡ ✐♥tr♦❞✉❝❡❞ ❛ ❞✐st❛♥❝❡ ❧❡❛r♥✐♥❣ ✭❡✲❧❡❛r♥✐♥❣✮✱ ❚❤❡ ❜✐rt❤r❛t❡ ✐♥ ❙❡r❜✐❛ r❛♣✐❞❧② ❞❡❝r❡❛s✐♥❣ ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧ ✇✐❧❧ ❜❡ ✐♥ ❛ ♣♦s✐t✐♦♥ t♦ ✜❣❤t ❢♦r ❡✈❡r② st✉❞❡♥t ✕ ❜❡tt❡r t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s✱ ♠♦r❡ st✉❞❡♥ts

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-4
SLIDE 4

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲❍❨ ▲❊❆❘◆ ▲

❆❚

❊❳❄

❙t✉❞❡♥ts t♦❞❛② ❛r❡ ♥♦t ✐♥t❡r❡st✐♥❣ ✐♥ ❧❡❝t✉r❡s t❤❛t ❛r❡ ❤❡❧❞ ✐♥ t❤❡ tr❛❞✐t✐♦♥❛❧ ♠❛♥♥❡r ✕ t❤❡② ✇❛♥t ❛ s❤♦rt✱ ❡✛❡❝t✐✈❡ ♠✉❧t✐♠❡❞✐❛ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ❡①❛♠♣❧❡s ❛♥❞ ❛♣♣❧✐❝❛t✐♦♥s ■♥ t❤❡ ❝♦♠✐♥❣ ②❡❛rs ✐♥ ♣r✐♠❛r② ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧s ✐♥ ❙❡r❜✐❛ ✇✐❧❧ ❜❡ ✐♥tr♦❞✉❝❡❞ ❛ ❞✐st❛♥❝❡ ❧❡❛r♥✐♥❣ ✭❡✲❧❡❛r♥✐♥❣✮✱ ❚❤❡ ❜✐rt❤r❛t❡ ✐♥ ❙❡r❜✐❛ r❛♣✐❞❧② ❞❡❝r❡❛s✐♥❣ ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧ ✇✐❧❧ ❜❡ ✐♥ ❛ ♣♦s✐t✐♦♥ t♦ ✜❣❤t ❢♦r ❡✈❡r② st✉❞❡♥t ✕ ❜❡tt❡r t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s✱ ♠♦r❡ st✉❞❡♥ts

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-5
SLIDE 5

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲❍❨ ▲❊❆❘◆ ▲

❆❚

❊❳❄

❙t✉❞❡♥ts t♦❞❛② ❛r❡ ♥♦t ✐♥t❡r❡st✐♥❣ ✐♥ ❧❡❝t✉r❡s t❤❛t ❛r❡ ❤❡❧❞ ✐♥ t❤❡ tr❛❞✐t✐♦♥❛❧ ♠❛♥♥❡r ✕ t❤❡② ✇❛♥t ❛ s❤♦rt✱ ❡✛❡❝t✐✈❡ ♠✉❧t✐♠❡❞✐❛ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ❡①❛♠♣❧❡s ❛♥❞ ❛♣♣❧✐❝❛t✐♦♥s ■♥ t❤❡ ❝♦♠✐♥❣ ②❡❛rs ✐♥ ♣r✐♠❛r② ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧s ✐♥ ❙❡r❜✐❛ ✇✐❧❧ ❜❡ ✐♥tr♦❞✉❝❡❞ ❛ ❞✐st❛♥❝❡ ❧❡❛r♥✐♥❣ ✭❡✲❧❡❛r♥✐♥❣✮✱ ❚❤❡ ❜✐rt❤r❛t❡ ✐♥ ❙❡r❜✐❛ r❛♣✐❞❧② ❞❡❝r❡❛s✐♥❣ ❛♥❞ s❡❝♦♥❞❛r② s❝❤♦♦❧ ✇✐❧❧ ❜❡ ✐♥ ❛ ♣♦s✐t✐♦♥ t♦ ✜❣❤t ❢♦r ❡✈❡r② st✉❞❡♥t ✕ ❜❡tt❡r t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s✱ ♠♦r❡ st✉❞❡♥ts

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-6
SLIDE 6

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉♦♥❛❧❞ ❑♥✉t❤ ❤❛s ❝r❡❛t❡❞ ❛ s♦❢t✇❛r❡ s✉✐t❡ ❢♦r ✇♦r❞ ♣r♦❝❡ss✐♥❣ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ ❚ ❊❳✳ ❚ ❊❳ ✐s ❞❡s✐❣♥❡❞ s♣❡❝✐✜❝❛❧❧② ❢♦r t❤❡ ♣r❡♣❛r❛t✐♦♥ ♦❢ ♣✉❜❧✐❝❛t✐♦♥s t❤❛t ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❚ ❊❳ ♥♦t ♦♥❧② ❤❡❧♣❡❞ ✐♥ ♣✉❜❧✐s❤✐♥❣ ❛♥❞ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✱ ❜✉t ❛❧s♦ ❡♥❛❜❧❡❞ ❜❡tt❡r ❝♦♠♠✉♥✐❝❛t✐♦♥ ❛♠♦♥❣ s❝✐❡♥t✐sts ❛♥❞ ♠❛t❤❡♠❛t✐❝✐❛♥s✳ ❯s❡ ♦❢ ❚ ❊❳ ✇❛s q✉✐t❡ ❝♦♠♣❧✐❝❛t❡❞ ❛♥❞ ❜❡❝❛✉s❡ ♦❢ t❤❛t ▲❡s❧✐❡ ▲❛♠♣♦rt ❞❡✈❡❧♦♣❡❞ ▲

❆❚

❊❳ t♦ s✐♠♣❧✐✜❡❞ ✉s✐♥❣ ♦❢ ❚ ❊❳✳ ▲

❆❚

❊❳ ✐s ♥♦t ❲❨❙■❲❨● ✭✧✇❤❛t ②♦✉ s❡❡ ✐s ✇❤❛t ②♦✉ ❣❡t✧✮ ✇♦r❞ ♣r♦❝❡ss♦r✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 7

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉♦♥❛❧❞ ❑♥✉t❤ ❤❛s ❝r❡❛t❡❞ ❛ s♦❢t✇❛r❡ s✉✐t❡ ❢♦r ✇♦r❞ ♣r♦❝❡ss✐♥❣ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ ❚ ❊❳✳ ❚ ❊❳ ✐s ❞❡s✐❣♥❡❞ s♣❡❝✐✜❝❛❧❧② ❢♦r t❤❡ ♣r❡♣❛r❛t✐♦♥ ♦❢ ♣✉❜❧✐❝❛t✐♦♥s t❤❛t ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❚ ❊❳ ♥♦t ♦♥❧② ❤❡❧♣❡❞ ✐♥ ♣✉❜❧✐s❤✐♥❣ ❛♥❞ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✱ ❜✉t ❛❧s♦ ❡♥❛❜❧❡❞ ❜❡tt❡r ❝♦♠♠✉♥✐❝❛t✐♦♥ ❛♠♦♥❣ s❝✐❡♥t✐sts ❛♥❞ ♠❛t❤❡♠❛t✐❝✐❛♥s✳ ❯s❡ ♦❢ ❚ ❊❳ ✇❛s q✉✐t❡ ❝♦♠♣❧✐❝❛t❡❞ ❛♥❞ ❜❡❝❛✉s❡ ♦❢ t❤❛t ▲❡s❧✐❡ ▲❛♠♣♦rt ❞❡✈❡❧♦♣❡❞ ▲

❆❚

❊❳ t♦ s✐♠♣❧✐✜❡❞ ✉s✐♥❣ ♦❢ ❚ ❊❳✳ ▲

❆❚

❊❳ ✐s ♥♦t ❲❨❙■❲❨● ✭✧✇❤❛t ②♦✉ s❡❡ ✐s ✇❤❛t ②♦✉ ❣❡t✧✮ ✇♦r❞ ♣r♦❝❡ss♦r✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 8

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉♦♥❛❧❞ ❑♥✉t❤ ❤❛s ❝r❡❛t❡❞ ❛ s♦❢t✇❛r❡ s✉✐t❡ ❢♦r ✇♦r❞ ♣r♦❝❡ss✐♥❣ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ ❚ ❊❳✳ ❚ ❊❳ ✐s ❞❡s✐❣♥❡❞ s♣❡❝✐✜❝❛❧❧② ❢♦r t❤❡ ♣r❡♣❛r❛t✐♦♥ ♦❢ ♣✉❜❧✐❝❛t✐♦♥s t❤❛t ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❚ ❊❳ ♥♦t ♦♥❧② ❤❡❧♣❡❞ ✐♥ ♣✉❜❧✐s❤✐♥❣ ❛♥❞ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✱ ❜✉t ❛❧s♦ ❡♥❛❜❧❡❞ ❜❡tt❡r ❝♦♠♠✉♥✐❝❛t✐♦♥ ❛♠♦♥❣ s❝✐❡♥t✐sts ❛♥❞ ♠❛t❤❡♠❛t✐❝✐❛♥s✳ ❯s❡ ♦❢ ❚ ❊❳ ✇❛s q✉✐t❡ ❝♦♠♣❧✐❝❛t❡❞ ❛♥❞ ❜❡❝❛✉s❡ ♦❢ t❤❛t ▲❡s❧✐❡ ▲❛♠♣♦rt ❞❡✈❡❧♦♣❡❞ ▲

❆❚

❊❳ t♦ s✐♠♣❧✐✜❡❞ ✉s✐♥❣ ♦❢ ❚ ❊❳✳ ▲

❆❚

❊❳ ✐s ♥♦t ❲❨❙■❲❨● ✭✧✇❤❛t ②♦✉ s❡❡ ✐s ✇❤❛t ②♦✉ ❣❡t✧✮ ✇♦r❞ ♣r♦❝❡ss♦r✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 9

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉♦♥❛❧❞ ❑♥✉t❤ ❤❛s ❝r❡❛t❡❞ ❛ s♦❢t✇❛r❡ s✉✐t❡ ❢♦r ✇♦r❞ ♣r♦❝❡ss✐♥❣ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ ❚ ❊❳✳ ❚ ❊❳ ✐s ❞❡s✐❣♥❡❞ s♣❡❝✐✜❝❛❧❧② ❢♦r t❤❡ ♣r❡♣❛r❛t✐♦♥ ♦❢ ♣✉❜❧✐❝❛t✐♦♥s t❤❛t ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❚ ❊❳ ♥♦t ♦♥❧② ❤❡❧♣❡❞ ✐♥ ♣✉❜❧✐s❤✐♥❣ ❛♥❞ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✱ ❜✉t ❛❧s♦ ❡♥❛❜❧❡❞ ❜❡tt❡r ❝♦♠♠✉♥✐❝❛t✐♦♥ ❛♠♦♥❣ s❝✐❡♥t✐sts ❛♥❞ ♠❛t❤❡♠❛t✐❝✐❛♥s✳ ❯s❡ ♦❢ ❚ ❊❳ ✇❛s q✉✐t❡ ❝♦♠♣❧✐❝❛t❡❞ ❛♥❞ ❜❡❝❛✉s❡ ♦❢ t❤❛t ▲❡s❧✐❡ ▲❛♠♣♦rt ❞❡✈❡❧♦♣❡❞ ▲

❆❚

❊❳ t♦ s✐♠♣❧✐✜❡❞ ✉s✐♥❣ ♦❢ ❚ ❊❳✳ ▲

❆❚

❊❳ ✐s ♥♦t ❲❨❙■❲❨● ✭✧✇❤❛t ②♦✉ s❡❡ ✐s ✇❤❛t ②♦✉ ❣❡t✧✮ ✇♦r❞ ♣r♦❝❡ss♦r✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 10

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉♦♥❛❧❞ ❑♥✉t❤ ❤❛s ❝r❡❛t❡❞ ❛ s♦❢t✇❛r❡ s✉✐t❡ ❢♦r ✇♦r❞ ♣r♦❝❡ss✐♥❣ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ ❚ ❊❳✳ ❚ ❊❳ ✐s ❞❡s✐❣♥❡❞ s♣❡❝✐✜❝❛❧❧② ❢♦r t❤❡ ♣r❡♣❛r❛t✐♦♥ ♦❢ ♣✉❜❧✐❝❛t✐♦♥s t❤❛t ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❚ ❊❳ ♥♦t ♦♥❧② ❤❡❧♣❡❞ ✐♥ ♣✉❜❧✐s❤✐♥❣ ❛♥❞ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✱ ❜✉t ❛❧s♦ ❡♥❛❜❧❡❞ ❜❡tt❡r ❝♦♠♠✉♥✐❝❛t✐♦♥ ❛♠♦♥❣ s❝✐❡♥t✐sts ❛♥❞ ♠❛t❤❡♠❛t✐❝✐❛♥s✳ ❯s❡ ♦❢ ❚ ❊❳ ✇❛s q✉✐t❡ ❝♦♠♣❧✐❝❛t❡❞ ❛♥❞ ❜❡❝❛✉s❡ ♦❢ t❤❛t ▲❡s❧✐❡ ▲❛♠♣♦rt ❞❡✈❡❧♦♣❡❞ ▲

❆❚

❊❳ t♦ s✐♠♣❧✐✜❡❞ ✉s✐♥❣ ♦❢ ❚ ❊❳✳ ▲

❆❚

❊❳ ✐s ♥♦t ❲❨❙■❲❨● ✭✧✇❤❛t ②♦✉ s❡❡ ✐s ✇❤❛t ②♦✉ ❣❡t✧✮ ✇♦r❞ ♣r♦❝❡ss♦r✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-11
SLIDE 11

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 12

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-13
SLIDE 13

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 14

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 15

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 16

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 17

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ▲

❆❚

❊❳ ✐s ❢❛r s✉♣❡r✐♦r t♦ ♦t❤❡r ✇♦r❞ ♣r♦❝❡ss♦rs ✇❤❡♥ s♦♠❡ t❡①t ❝♦♥t❛✐♥s ❛ ❧♦t ♦❢ ❡q✉❛t✐♦♥s✱ ✐t✬s ❢r❡❡ ♣❧❛t❢♦r♠ ✐♥❞❡♣❡♥❞❡♥t ✲ ❝❛♥ ❜❡ ✉s❡❞ ♦♥ ❲✐♥❞♦✇s✱ ▼❛❝s✱ ▲✐♥✉①✱ ❤✐❣❤ q✉❛❧✐t② ♦✉t♣✉t ✲ P❉❋s ♣r♦❞✉❝❡❞ ❧♦♦❦ ❡❧❡❣❛♥t ❛♥❞ ♣r♦❢❡ss✐♦♥❛❧✱ ♣❡r❢♦r♠❛♥❝❡ ✲ ▲

❆❚

❊❳ ❞♦❡s♥✬t ❝r❛s❤ ❧✐❦❡ ❲♦r❞✱ ❢♦r ✐♥st❛♥❝❡✱ ✜❧❡s ❛r❡ ✈❡r② s♠❛❧❧ ✲ ▲

❆❚

❊❳ ✜❧❡ ✐s ❥✉st ❛ t❡①t ✜❧❡

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 18

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 19

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 20

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 21

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 22

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 23

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 24

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 25

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❉✐s❛❞✈❛♥t❛❣❡s ♦❢ ✉s✐♥❣ ▲

❚ ❊❳✿ ✐t ❝❛♥ ❜❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ❜❡❣✐♥♥❡rs✱ ❧❡❛r♥✐♥❣ ❤♦✇ t♦ ✉s❡ ✐t t❛❦❡s t✐♠❡✱ ❝♦♠♣❧✐❝❛t❡❞ ✇♦r❦✢♦✇ ✲ t❤❡r❡ ❛r❡ s❡✈❡r❛❧ st❡♣s t♦ ✇r✐t❡✱ ❣❡♥❡r❛t❡ ❛♥❞ ♣r♦❞✉❝❡ ❛ ✜♥✐s❤❡❞ ✜❧❡✳ ❇✉t✱ ♦♥❝❡ ②♦✉ ❧❡❛r♥ ▲

❆❚

❊❳✱ ②♦✉ ✇✐❧❧ ♥♦t ❡✈❡♥ t❤✐♥❦ ❛❜♦✉t t❤❡ ▼❙ ❲♦r❞✦ ▼❛♥② ❜♦♦❦s ❢♦r ❧❡❛r♥✐♥❣ ▲

❆❚

❊❳ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❢r♦♠ ✐♥t❡r♥❡t✳ ❋♦r ✐♥st❛♥❝❡✱ ❜♦♦❦ ✐♥ s❡r❜✐❛♥ ❧❛♥❣✉❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ❤tt♣✿✴✴♣♦✐♥❝❛r❡✳♠❛t❢✳❜❣✳❛❝✳rs✴⑦❥❛♥✐❝✐❝✴✴❜♦♦❦s✴❧❛t❡①✷❡✳♣❞❢

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 26

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-27
SLIDE 27

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-28
SLIDE 28

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-29
SLIDE 29

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-30
SLIDE 30

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 31

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❍❖❲ ❚❖ ■◆❙❚❆▲▲ ▲

❆❚

❊❳❄

❚♦ ✐♥st❛❧❧ ❚ ❊❳ ♦r ▲

❆❚

❊❳ ②♦✉ ❤❛✈❡ t♦ ❞♦✇♥❧♦❛❞ ❢r♦♠ ✐♥t❡r♥❡t ❛♥❞ r✉♥ ♦♥ ②♦✉r ❝♦♠♣✉t❡r s♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▼✐❑❚❡❳✳ ▼✐❑❚❡❳ ✐s ❛ t②♣❡s❡tt✐♥❣ s②st❡♠ ♠❛❞❡ ❢♦r ▼✐❝r♦s♦❢t ❲✐♥❞♦✇s✳ ❚❤✐s ♣❛❝❦❛❣❡ ❝❛♥ ❜❡ ❞♦✇♥❧♦❛❞❡❞ ❢♦r ❢r❡❡ ❛t ✇✇✇✳♠✐❦t❡①✳♦r❣ ▼✐❑❚❡❳ ♣r♦✈✐❞❡s t❤❡ t♦♦❧s ♥❡❝❡ss❛r② t♦ ♣r❡♣❛r❡ ❞♦❝✉♠❡♥ts ✉s✐♥❣ t❤❡ ❚❊❳ ♦r ▲

❆❚

❊❳✳ ❚♦ ✉s❡ ▲

❆❚

❊❳✱ ②♦✉ ✜rst ♠✉st ❝r❡❛t❡ ❛ ✜❧❡ ✉s✐♥❣ ❛ ♣❧❛✐♥ t❡①t ❡❞✐t♦r✳ ❚❤❡r❡ ❛r❡ ♠❛♥② t❡①t ❡❞✐t♦rs ❢♦r ❲✐♥❞♦✇s✿ ❲✐♥❊❞t✱ ❚❡①▼❛❦❡r✱ ❇❛❑♦▼❛ ❚❡❳✱ ✳✳✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 32

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s ▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 33

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ Pr❡♣❛r✐♥❣ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❇❡❛♠❡r ✐s ❞✐✛❡r❡♥t ❢r♦♠ ♣r❡♣❛r✐♥❣ t❤❡♠ ✇✐t❤ ❲❨❙■❲❨● ♣r♦❣r❛♠s ❧✐❦❡ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ ❢♦r ✐♥st❛♥❝❡✳ ❨♦✉ ❤❛✈❡ t♦ ❦♥♦✇ ▲

❆❚

❊❳ ✐♥ ♦r❞❡r t♦ ✉s❡ ❇❡❛♠❡r✦ ❚❤❡♥ ②♦✉ ❝❛♥ ✉s❡ ②♦✉r ❦♥♦✇❧❡❞❣❡ ♦❢ ▲

❆❚

❊❳ ❛❧s♦ ✇❤❡♥ ❝r❡❛t✐♥❣ ❛ ♣r❡s❡♥t❛t✐♦♥✱ ♥♦t ♦♥❧② ✇❤❡♥ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 34

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ Pr❡♣❛r✐♥❣ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❇❡❛♠❡r ✐s ❞✐✛❡r❡♥t ❢r♦♠ ♣r❡♣❛r✐♥❣ t❤❡♠ ✇✐t❤ ❲❨❙■❲❨● ♣r♦❣r❛♠s ❧✐❦❡ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ ❢♦r ✐♥st❛♥❝❡✳ ❨♦✉ ❤❛✈❡ t♦ ❦♥♦✇ ▲

❆❚

❊❳ ✐♥ ♦r❞❡r t♦ ✉s❡ ❇❡❛♠❡r✦ ❚❤❡♥ ②♦✉ ❝❛♥ ✉s❡ ②♦✉r ❦♥♦✇❧❡❞❣❡ ♦❢ ▲

❆❚

❊❳ ❛❧s♦ ✇❤❡♥ ❝r❡❛t✐♥❣ ❛ ♣r❡s❡♥t❛t✐♦♥✱ ♥♦t ♦♥❧② ✇❤❡♥ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 35

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ Pr❡♣❛r✐♥❣ ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❇❡❛♠❡r ✐s ❞✐✛❡r❡♥t ❢r♦♠ ♣r❡♣❛r✐♥❣ t❤❡♠ ✇✐t❤ ❲❨❙■❲❨● ♣r♦❣r❛♠s ❧✐❦❡ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ ❢♦r ✐♥st❛♥❝❡✳ ❨♦✉ ❤❛✈❡ t♦ ❦♥♦✇ ▲

❆❚

❊❳ ✐♥ ♦r❞❡r t♦ ✉s❡ ❇❡❛♠❡r✦ ❚❤❡♥ ②♦✉ ❝❛♥ ✉s❡ ②♦✉r ❦♥♦✇❧❡❞❣❡ ♦❢ ▲

❆❚

❊❳ ❛❧s♦ ✇❤❡♥ ❝r❡❛t✐♥❣ ❛ ♣r❡s❡♥t❛t✐♦♥✱ ♥♦t ♦♥❧② ✇❤❡♥ ✇r✐t✐♥❣ ♣✉❜❧✐❝❛t✐♦♥s✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 36

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 37

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 38

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 39

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 40

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 41

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❝♦♥tr❛st✱ ❢♦r ✐♥st❛♥❝❡✱ t♦ ▼✐❝r♦s♦❢t P♦✇❡rP♦✐♥t✱ t❤❡r❡ ❛r❡ s♦♠❡ ❜❡♥❡✜ts ♦❢ ✉s✐♥❣ ❇❡❛♠❡r✿ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ t❡①t ❡❞✐t♦r ❛♥❞ ▲

❆❚

❊❳ t♦ ❝r❡❛t❡ ❛ s❧✐❞❡s❤♦✇ ②♦✉ ♦♥❧② ♥❡❡❞ ❛ P❉❋ r❡❛❞❡r t♦ s❤♦✇ ✐t ✭t❤❡② ❛r❡ ♥❡❛r❧② ❡✈❡r②✇❤❡r❡✮ ②♦✉ ❣❡♥❡r❛t❡ s❧✐❞❡ ♥❛✈✐❣❛t✐♦♥ t♦♦❧s ✈❡r② s✐♠♣❧② ②♦✉ ❞❡❛❧ ✇✐t❤ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t❛t✐♦♥ ✈❡r② ❡❛s② ②♦✉r ♣r❡s❡♥t❛t✐♦♥ ✐s ✐♥ ❛ ❧✐❣❤t t❡①t ✜❧❡ ✭✰ ♠❡❞✐❛ ✐❢ ♣r❡s❡♥t✮

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-42
SLIDE 42

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ✐♥ t❤❡ s❡t ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ ✱ ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶

✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶ ✶ ✷✱

✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷✱ ✸ ✶✱ ✷ ✷✱ ✸ ✶✱ ✸

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-43
SLIDE 43

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ρ ✐♥ t❤❡ s❡t A ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ ✱ ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶

✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶ ✶ ✷✱

✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷✱ ✸ ✶✱ ✷ ✷✱ ✸ ✶✱ ✸

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-44
SLIDE 44

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ρ ✐♥ t❤❡ s❡t A ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ (∀a ∈ A) (a✱ a) ∈ ρ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶

✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶ ✶ ✷✱

✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷✱ ✸ ✶✱ ✷ ✷✱ ✸ ✶✱ ✸

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-45
SLIDE 45

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ρ ✐♥ t❤❡ s❡t A ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ (∀a ∈ A) (a✱ a) ∈ ρ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷ ∈ A) (a✶✱ a✷) ∈ ρ ⇒ (a✷✱ a✶) ∈ ρ✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷ ✶✱ ✷ ✷✱ ✶ ✶ ✷✱

✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷✱ ✸ ✶✱ ✷ ✷✱ ✸ ✶✱ ✸

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-46
SLIDE 46

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ρ ✐♥ t❤❡ s❡t A ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ (∀a ∈ A) (a✱ a) ∈ ρ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷ ∈ A) (a✶✱ a✷) ∈ ρ ⇒ (a✷✱ a✶) ∈ ρ✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷ ∈ A) (a✶✱ a✷) ∈ ρ ∧ (a✷✱ a✶) ∈ ρ ⇒ a✶ = a✷✱ ✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞

✶✱ ✷✱ ✸ ✶✱ ✷ ✷✱ ✸ ✶✱ ✸

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-47
SLIDE 47

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲✐t❤ ❇❡❛♠❡r ✐t ✐s ♣♦ss✐❜❧❡ t♦ ❡♠♣❤❛s✐③❡ t❤❡♦r❡♠s✱ ❞❡✜♥✐t✐♦♥s✱ ❡①❛♠♣❧❡s✱ ❡t❝✳✳✳ ❉❡✜♥✐t✐♦♥ ❆ ❜✐♥❛r② r❡❧❛t✐♦♥ ρ ✐♥ t❤❡ s❡t A ✐s✿ ✶✳ r❡✢❡①✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ (∀a ∈ A) (a✱ a) ∈ ρ✱ ✷✳ s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷ ∈ A) (a✶✱ a✷) ∈ ρ ⇒ (a✷✱ a✶) ∈ ρ✱ ✸✳ ❛♥t✐s②♠♠❡tr✐❝ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷ ∈ A) (a✶✱ a✷) ∈ ρ ∧ (a✷✱ a✶) ∈ ρ ⇒ a✶ = a✷✱ ✹✳ tr❛♥s✐t✐✈❡ ✐❢ ✐t s❛t✐s✜❡❞ (∀a✶✱ a✷✱ a✸ ∈ A) (a✶✱ a✷) ∈ ρ ∧ (a✷✱ a✸) ∈ ρ ⇒ (a✶✱ a✸) ∈ ρ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 48

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ❡❛s✐❧② ✐♥❝❧✉❞❡ s♦♠❡ ♣✐❝t✉r❡✳✳✳ P✐❝t✉r❡✳ ❚❤❡ ❣r❛♣❤ ♦❢ ❢✉♥❝t✐♦♥

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 49

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ❡❛s✐❧② ✐♥❝❧✉❞❡ s♦♠❡ ♣✐❝t✉r❡✳✳✳ P✐❝t✉r❡✳ ❚❤❡ ❣r❛♣❤ ♦❢ ❢✉♥❝t✐♦♥ y = arccosx

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 50

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

✳✳✳ ♦r ❝r❡❛t❡ ❛ t❛❜❧❡ ❊①❛♠♣❧❡ ❲❤❡t❤❡r t❤❡ ❢♦r♠✉❧❛ ✐s t❛✉t♦❧♦❣②❄ ❙♦❧✉t✐♦♥✳ ❇② ✉s✐♥❣ t❤❡ tr✉t❤✲t❛❜❧❡ ✇❡ ♦❜t❛✐♥ t❤❛t ❛❜♦✈❡ ❢♦r♠✉❧❛ ✐s ♥♦t ❛ t❛✉t♦❧♦❣②✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 51

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

✳✳✳ ♦r ❝r❡❛t❡ ❛ t❛❜❧❡ ❊①❛♠♣❧❡ ❲❤❡t❤❡r t❤❡ ❢♦r♠✉❧❛ (p ⇒ q) ∧ q ⇒ p ✐s t❛✉t♦❧♦❣②❄ ❙♦❧✉t✐♦♥✳ ❇② ✉s✐♥❣ t❤❡ tr✉t❤✲t❛❜❧❡ ✇❡ ♦❜t❛✐♥ t❤❛t ❛❜♦✈❡ ❢♦r♠✉❧❛ ✐s ♥♦t ❛ t❛✉t♦❧♦❣②✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 52

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

✳✳✳ ♦r ❝r❡❛t❡ ❛ t❛❜❧❡ ❊①❛♠♣❧❡ ❲❤❡t❤❡r t❤❡ ❢♦r♠✉❧❛ (p ⇒ q) ∧ q ⇒ p ✐s t❛✉t♦❧♦❣②❄ ❙♦❧✉t✐♦♥✳ ❇② ✉s✐♥❣ t❤❡ tr✉t❤✲t❛❜❧❡ ✇❡ ♦❜t❛✐♥ t❤❛t ❛❜♦✈❡ ❢♦r♠✉❧❛ ✐s ♥♦t ❛ t❛✉t♦❧♦❣②✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 53

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

✳✳✳ ♦r ❝r❡❛t❡ ❛ t❛❜❧❡ ❊①❛♠♣❧❡ ❲❤❡t❤❡r t❤❡ ❢♦r♠✉❧❛ (p ⇒ q) ∧ q ⇒ p ✐s t❛✉t♦❧♦❣②❄ ❙♦❧✉t✐♦♥✳ ❇② ✉s✐♥❣ t❤❡ tr✉t❤✲t❛❜❧❡ p q p ⇒ q (p ⇒ q) ∧ q (p ⇒ q) ∧ q ⇒ p ⊤ ⊤ ⊤ ⊤ ⊤ ⊤ ⊥ ⊥ ⊥ ⊤ ⊥ ⊤ ⊤ ⊤ ⊥ ⊥ ⊥ ⊤ ⊥ ⊤ ✇❡ ♦❜t❛✐♥ t❤❛t ❛❜♦✈❡ ❢♦r♠✉❧❛ ✐s ♥♦t ❛ t❛✉t♦❧♦❣②✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 54

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❡❛s② ✇❛② ②♦✉ ❝❛♥ ♣r❡s❡♥t t❤❡ n✲t❤ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t

✶✶ ✶✷

✳ ✳ ✳

✳ ✳ ✳

✶ ✷✶ ✷✷

✳ ✳ ✳

✳ ✳ ✳

✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳ ✳ ✳ ✳

✶ ✷

✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳

✶ ✷

✳ ✳ ✳ ✳ ✳ ✳ ✱ ♦r ❙❛rr✉s r✉❧❡

✶✶ ✶✷ ✶✸ ✷✶ ✷✷ ✷✸ ✸✶ ✸✷ ✸✸ ✶✶ ✶✷ ✷✶ ✷✷ ✸✶ ✸✷ ✶✶ ✷✷ ✸✸ ✶✷ ✷✸ ✸✶ ✶✸ ✷✶ ✸✷ ✸✶ ✷✷ ✶✸ ✸✷ ✷✸ ✶✶ ✸✸ ✷✶ ✶✷✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-55
SLIDE 55

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❡❛s② ✇❛② ②♦✉ ❝❛♥ ♣r❡s❡♥t t❤❡ n✲t❤ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t

  • a✶✶

a✶✷ ✳ ✳ ✳ a✶i ✳ ✳ ✳ a✶n a✷✶ a✷✷ ✳ ✳ ✳ a✷i ✳ ✳ ✳ a✷n ✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳ ✳ ✳ ✳ ai✶ ai✷ ✳ ✳ ✳ aii ✳ ✳ ✳ ain ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳ an✶ an✷ ✳ ✳ ✳ ani ✳ ✳ ✳ ann

♦r ❙❛rr✉s r✉❧❡

✶✶ ✶✷ ✶✸ ✷✶ ✷✷ ✷✸ ✸✶ ✸✷ ✸✸ ✶✶ ✶✷ ✷✶ ✷✷ ✸✶ ✸✷ ✶✶ ✷✷ ✸✸ ✶✷ ✷✸ ✸✶ ✶✸ ✷✶ ✸✷ ✸✶ ✷✷ ✶✸ ✸✷ ✷✸ ✶✶ ✸✸ ✷✶ ✶✷✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 56

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ ❡❛s② ✇❛② ②♦✉ ❝❛♥ ♣r❡s❡♥t t❤❡ n✲t❤ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t

  • a✶✶

a✶✷ ✳ ✳ ✳ a✶i ✳ ✳ ✳ a✶n a✷✶ a✷✷ ✳ ✳ ✳ a✷i ✳ ✳ ✳ a✷n ✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳ ✳ ✳ ✳ ai✶ ai✷ ✳ ✳ ✳ aii ✳ ✳ ✳ ain ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳✳✳ ✳ ✳ ✳ an✶ an✷ ✳ ✳ ✳ ani ✳ ✳ ✳ ann

♦r ❙❛rr✉s r✉❧❡

  • a✶✶

a✶✷ a✶✸ a✷✶ a✷✷ a✷✸ a✸✶ a✸✷ a✸✸

  • a✶✶

a✶✷ a✷✶ a✷✷ a✸✶ a✸✷ = a✶✶a✷✷a✸✸ + a✶✷a✷✸a✸✶ + a✶✸a✷✶a✸✷ − −a✸✶a✷✷a✶✸ − a✸✷a✷✸a✶✶ − a✸✸a✷✶a✶✷✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 57

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❆❧s♦✱ ②♦✉ ❝❛♥ ♣r❡s❡♥t ❛ s②st❡♠ ♦❢ ❧✐♥❡❛r ❡q✉❛t✐♦♥s ✐♥✈♦❧✈❡s m ❡q✉❛t✐♦♥s ❛♥❞ n ✈❛r✐❛❜❧❡s✿ a✶✶x✶ + a✶✷x✷ + a✶✸x✸ + ✳ ✳ ✳ + a✶jxj + ✳ ✳ ✳ + a✶nxn = b✶✱ a✷✶x✶ + a✷✷x✷ + a✷✸x✸ + ✳ ✳ ✳ + a✷jxj + ✳ ✳ ✳ + a✷nxn = b✷✱ a✸✶x✶ + a✸✷x✷ + a✸✸x✸ + ✳ ✳ ✳ + a✸jxj + ✳ ✳ ✳ + a✸nxn = b✸✱ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ai✶x✶ + ai✷x✷ + ai✸x✸ + ✳ ✳ ✳ + aijxj + ✳ ✳ ✳ + ainxn = bi✱ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ am✶x✶ + am✷x✷ + am✸x✸ + ✳ ✳ ✳ + amjxj + ✳ ✳ ✳ + amnxn = bm✱

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 58

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡ ❉❡t❡r♠✐♥❡ t❤❡ ✜rst ❞❡r✐✈❛t✐♦♥ ♦❢ ♥❡①t ❢✉♥❝t✐♦♥ f(x) = − ❝♦s x ✷ s✐♥✷ x + ❧♥

  • ✶ + ❝♦s x

s✐♥ x ✳ ❙♦❧✉t✐♦♥✳ ❝♦s ✷ s✐♥✷ ❧♥ ✶ ❝♦s s✐♥ ✷ s✐♥✸ ✹ s✐♥ ❝♦s✷ ✹ s✐♥✹ ✶

✶ ❝♦s s✐♥

✶ ❝♦s s✐♥ ✷ s✐♥ s✐♥✷ ✷ ❝♦s✷ ✹ s✐♥✹ s✐♥ ✶ ❝♦s ✶ ✷

✶ ❝♦s s✐♥

✶ ❝♦s s✐♥ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ s✐♥ ✷ ✶ ❝♦s s✐♥✷ ❝♦s✷ ❝♦s s✐♥✷ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ s✐♥ ✷ ✶ ❝♦s ✶ ❝♦s s✐♥✷ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ ✶ ✷ s✐♥ s✐♥✷ ✷ ❝♦s✷ s✐♥✷ ✷ s✐♥✸ ✷ ❝♦s✷ ✷ s✐♥✸ ❝♦s✷ s✐♥✸ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 59

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡ ❉❡t❡r♠✐♥❡ t❤❡ ✜rst ❞❡r✐✈❛t✐♦♥ ♦❢ ♥❡①t ❢✉♥❝t✐♦♥ f(x) = − ❝♦s x ✷ s✐♥✷ x + ❧♥

  • ✶ + ❝♦s x

s✐♥ x ✳ ❙♦❧✉t✐♦♥✳ ❝♦s ✷ s✐♥✷ ❧♥ ✶ ❝♦s s✐♥ ✷ s✐♥✸ ✹ s✐♥ ❝♦s✷ ✹ s✐♥✹ ✶

✶ ❝♦s s✐♥

✶ ❝♦s s✐♥ ✷ s✐♥ s✐♥✷ ✷ ❝♦s✷ ✹ s✐♥✹ s✐♥ ✶ ❝♦s ✶ ✷

✶ ❝♦s s✐♥

✶ ❝♦s s✐♥ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ s✐♥ ✷ ✶ ❝♦s s✐♥✷ ❝♦s✷ ❝♦s s✐♥✷ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ s✐♥ ✷ ✶ ❝♦s ✶ ❝♦s s✐♥✷ s✐♥✷ ✷ ❝♦s✷ ✷ s✐♥✸ ✶ ✷ s✐♥ s✐♥✷ ✷ ❝♦s✷ s✐♥✷ ✷ s✐♥✸ ✷ ❝♦s✷ ✷ s✐♥✸ ❝♦s✷ s✐♥✸ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 60

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡ ❉❡t❡r♠✐♥❡ t❤❡ ✜rst ❞❡r✐✈❛t✐♦♥ ♦❢ ♥❡①t ❢✉♥❝t✐♦♥ f(x) = − ❝♦s x ✷ s✐♥✷ x + ❧♥

  • ✶ + ❝♦s x

s✐♥ x ✳ ❙♦❧✉t✐♦♥✳ f′(x) =

  • − ❝♦s x

✷ s✐♥✷ x ′ +

  • ❧♥
  • ✶ + ❝♦s x

s✐♥ x ′ = = −−✷ s✐♥✸ x − ✹ s✐♥ x ❝♦s✷ x ✹ s✐♥✹ x + ✶

  • ✶+❝♦s x

s✐♥ x

·

  • ✶ + ❝♦s x

s✐♥ x ′ = = ✁ ✷ s✐♥ x(s✐♥✷ x + ✷ ❝♦s✷ x)

✹ s✐♥✹ x +

  • s✐♥ x

✶ + ❝♦s x · ✶ ✷

  • ✶+❝♦s x

s✐♥ x

· ✶ + ❝♦s x s✐♥ x ′ = = s✐♥✷ x + ✷ ❝♦s✷ x ✷ s✐♥✸ x + s✐♥ x ✷(✶ + ❝♦s x) · − s✐♥✷ x − ❝♦s✷ x − ❝♦s x s✐♥✷ x = = s✐♥✷ x + ✷ ❝♦s✷ x ✷ s✐♥✸ x +

✘✘ ✘

s✐♥ x ✷✘✘✘✘✘

(✶ + ❝♦s x) · −✘✘✘✘✘

(✶ + ❝♦s x) s✐♥✁

✷ x

= = s✐♥✷ x + ✷ ❝♦s✷ x ✷ s✐♥✸ x − ✶ ✷ s✐♥ x =

✘✘ ✘

s✐♥✷ x + ✷ ❝♦s✷ x −✘✘

s✐♥✷ x ✷ s✐♥✸ x = ✁ ✷ ❝♦s✷ x

✷ s✐♥✸ x = ❝♦s✷ x s✐♥✸ x ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-61
SLIDE 61

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x = ✸ ❞ ✷✺ ✸✷ s✉❜st✐t✳ ✸ ✸ ❞

❞ ❧♥ ✸

✶ ❧♥ ✸ ❞ ✷✺

✶ ❧♥ ✸ ❞ ✷✺ ✶

✷✺

✶ ✺ ❧♥ ✸ ❞ ✶

✺ ✷

s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-62
SLIDE 62

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x s✉❜st✐t✳ ✸ ✸ ❞

❞ ❧♥ ✸

✶ ❧♥ ✸ ❞ ✷✺

✶ ❧♥ ✸ ❞ ✷✺ ✶

✷✺

✶ ✺ ❧♥ ✸ ❞ ✶

✺ ✷

s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-63
SLIDE 63

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸ ❞ ✷✺

✶ ❧♥ ✸ ❞ ✷✺ ✶

✷✺

✶ ✺ ❧♥ ✸ ❞ ✶

✺ ✷

s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-64
SLIDE 64

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = ✶ ❧♥ ✸ ❞ ✷✺ ✶

✷✺

✶ ✺ ❧♥ ✸ ❞ ✶

✺ ✷

s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-65
SLIDE 65

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸ ❞ ✶

✺ ✷

s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-66
SLIDE 66

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷ s✉❜st✐t✳

❞ ✺ ❞ ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-67
SLIDE 67

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷   s✉❜st✐t✳ :

t ✺ = u

❞t = ✺ ❞u   = ✶ ✺ ❧♥ ✸ ✺ ❞ ✶

✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-68
SLIDE 68

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷   s✉❜st✐t✳ :

t ✺ = u

❞t = ✺ ❞u   = = ✶

✺ ❧♥ ✸

✺ ❞u √ ✶ − u✷ = ✶ ❧♥ ✸ ❛r❝s✐♥ ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-69
SLIDE 69

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷   s✉❜st✐t✳ :

t ✺ = u

❞t = ✺ ❞u   = = ✶

✺ ❧♥ ✸

✺ ❞u √ ✶ − u✷ = ✶ ❧♥ ✸ ❛r❝s✐♥ u + c = ✶ ❧♥ ✸ ❛r❝s✐♥ ✺ ✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-70
SLIDE 70

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷   s✉❜st✐t✳ :

t ✺ = u

❞t = ✺ ❞u   = = ✶

✺ ❧♥ ✸

✺ ❞u √ ✶ − u✷ = ✶ ❧♥ ✸ ❛r❝s✐♥ u + c = ✶ ❧♥ ✸ ❛r❝s✐♥ t ✺

  • + c =

✶ ❧♥ ✸ ❛r❝s✐♥ ✸ ✺ ✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-71
SLIDE 71

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡

  • ✸x ❞x

√✷✺ − ✾x =

  • ✸x ❞x

√ ✷✺ − ✸✷x   s✉❜st✐t✳ : ✸x = t ✸x ❞x =

❞t ❧♥ ✸

  = ✶ ❧♥ ✸

  • ❞t

√ ✷✺ − t✷ = = ✶ ❧♥ ✸

  • ❞t
  • ✷✺
  • ✶ − t✷

✷✺

= ✶ ✺ ❧♥ ✸

  • ❞t
  • ✶ −

t

✷   s✉❜st✐t✳ :

t ✺ = u

❞t = ✺ ❞u   = = ✶

✺ ❧♥ ✸

✺ ❞u √ ✶ − u✷ = ✶ ❧♥ ✸ ❛r❝s✐♥ u + c = ✶ ❧♥ ✸ ❛r❝s✐♥ t ✺

  • + c =

= ✶ ❧♥ ✸ ❛r❝s✐♥ ✸x ✺

  • + c✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-72
SLIDE 72

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡ ❲❡ s❤♦✉❧❞ s♦❧✈❡ t❤❡ s②st❡♠ ♦❢ ❧✐♥❡❛r ❡q✉❛t✐♦♥s x + y − z = ✶✱ ✷x + ✸y + az = ✸✱ x + ay + ✸z = ✷✱ ✭✶✮ ✇❤❡r❡ a ✐s ❛ r❡❛❧ ♣❛r❛♠❡t❡r✳ ❙♦❧✉t✐♦♥✳ ❲❡ ✇✐❧❧ ❛♣♣❧② ❈r❛♠❡r✬s r✉❧❡✳ ❚❤❡ ❞❡t❡r♠✐♥❛♥t ♦❢ t❤❡ s②st❡♠ ✐s ✶ ✶ ✶ ✷ ✸ ✶ ✸

✻ ✷ ✸ ✱

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-73
SLIDE 73

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊①❛♠♣❧❡ ❲❡ s❤♦✉❧❞ s♦❧✈❡ t❤❡ s②st❡♠ ♦❢ ❧✐♥❡❛r ❡q✉❛t✐♦♥s x + y − z = ✶✱ ✷x + ✸y + az = ✸✱ x + ay + ✸z = ✷✱ ✭✶✮ ✇❤❡r❡ a ✐s ❛ r❡❛❧ ♣❛r❛♠❡t❡r✳ ❙♦❧✉t✐♦♥✳ ❲❡ ✇✐❧❧ ❛♣♣❧② ❈r❛♠❡r✬s r✉❧❡✳ ❚❤❡ ❞❡t❡r♠✐♥❛♥t ♦❢ t❤❡ s②st❡♠ D ✐s D =

✶ −✶ ✷ ✸ a ✶ a ✸

  • = −a✷ − a + ✻ = −(a − ✷)(a + ✸)✱

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

slide-74
SLIDE 74

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❛♥❞ t❤❡ ❞❡t❡r♠✐♥❛♥ts ♦❢ ✈❛r✐❛❜❧❡s x✱ y ❛♥❞ z ❞❡♥♦t❡ ❛s Dx✱ Dy ✐ Dz r❡s♣❡❝t✐✈❡❧②✱ ❛r❡✿ Dx =

✶ −✶ ✸ ✸ a ✷ a ✸

  • = −a✷ − a + ✻ = −(a − ✷)(a + ✸)✱

Dy =

✶ −✶ ✷ ✸ a ✶ ✷ ✸

  • = −a + ✷✱

Dz =

✶ ✶ ✷ ✸ ✸ ✶ a ✷

  • = −a + ✷✳

❉✐s❝✉st✐♦♥✿ ❲❡ ❤❛✈❡ ♥❡①t t❤r❡❡ ❝❛s❡s✳ ❋✐rst❧②✱ ✐❢ ✸ ❛♥❞ ✷✱ ✇❡ ❤❛✈❡ ✵✱ ❛♥❞ s②st❡♠ ❤❛s ✉♥✐q✉❡ s♦❧✉t✐♦♥✿ ✶✱ ✶ ✸✱ ✶ ✸✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 75

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❛♥❞ t❤❡ ❞❡t❡r♠✐♥❛♥ts ♦❢ ✈❛r✐❛❜❧❡s x✱ y ❛♥❞ z ❞❡♥♦t❡ ❛s Dx✱ Dy ✐ Dz r❡s♣❡❝t✐✈❡❧②✱ ❛r❡✿ Dx =

✶ −✶ ✸ ✸ a ✷ a ✸

  • = −a✷ − a + ✻ = −(a − ✷)(a + ✸)✱

Dy =

✶ −✶ ✷ ✸ a ✶ ✷ ✸

  • = −a + ✷✱

Dz =

✶ ✶ ✷ ✸ ✸ ✶ a ✷

  • = −a + ✷✳

❉✐s❝✉st✐♦♥✿ ❲❡ ❤❛✈❡ ♥❡①t t❤r❡❡ ❝❛s❡s✳ ❋✐rst❧②✱ ✐❢ a = −✸ ❛♥❞ a = ✷✱ ✇❡ ❤❛✈❡ D = ✵✱ ❛♥❞ s②st❡♠ ❤❛s ✉♥✐q✉❡ s♦❧✉t✐♦♥✿ x = Dx D = ✶✱ y = Dy D = ✶ a + ✸✱ z = Dz D = ✶ a + ✸✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 76

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤❡ ❝❛s❡ ❢♦r a = −✸✱ ✇❡ ❤❛✈❡ t❤❛t Dy = ✵✱ ❛♥❞ ✐♥✐t✐❛❧ s②st❡♠ ❤❛s ♥♦ s♦❧✉t✐♦♥✳ ■♥ ❧❛st ❝❛s❡✱ ❢♦r ✷✱ ✇❡ ❤❛✈❡ ✵✱ ❛♥❞ ✇❡ ❝❛♥✬t ❛♣♣❧② t❤❡ ❈r❛♠❡r✬s r✉❧❡✳ ◆♦✇✱ ✇❡ ✇✐❧❧ ❞✐r❡❝t❧② ♣✉t t❤❡ ✈❛❧✉❡ ✷✱ ✐♥ t❤❡ s②st❡♠ ✭✶✮✳ ❚❤❡♥ ✇❡ ♦❜t❛✐♥✿ ✶✱ ✷ ✸ ✷ ✸✱ ✷ ✸ ✷✱ ✭✷✮ ❋♦r s♦❧✈✐♥❣ s②st❡♠ ✭✷✮ ✇❡ ✇✐❧❧ ❛♣♣❧② ❑r♦♥❡❝❦❡r✲❈❛♣❡❧❧✐ t❤❡♦r❡♠✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 77

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤❡ ❝❛s❡ ❢♦r a = −✸✱ ✇❡ ❤❛✈❡ t❤❛t Dy = ✵✱ ❛♥❞ ✐♥✐t✐❛❧ s②st❡♠ ❤❛s ♥♦ s♦❧✉t✐♦♥✳ ■♥ ❧❛st ❝❛s❡✱ ❢♦r a = ✷✱ ✇❡ ❤❛✈❡ Dx = Dy = Dz = ✵✱ ❛♥❞ ✇❡ ❝❛♥✬t ❛♣♣❧② t❤❡ ❈r❛♠❡r✬s r✉❧❡✳ ◆♦✇✱ ✇❡ ✇✐❧❧ ❞✐r❡❝t❧② ♣✉t t❤❡ ✈❛❧✉❡ a = ✷✱ ✐♥ t❤❡ s②st❡♠ ✭✶✮✳ ❚❤❡♥ ✇❡ ♦❜t❛✐♥✿ x + y − z = ✶✱ ✷x + ✸y + ✷z = ✸✱ x + ✷y + ✸z = ✷✱ ✭✷✮ ❋♦r s♦❧✈✐♥❣ s②st❡♠ ✭✷✮ ✇❡ ✇✐❧❧ ❛♣♣❧② ❑r♦♥❡❝❦❡r✲❈❛♣❡❧❧✐ t❤❡♦r❡♠✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 78

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❲❡ ❤❛✈❡ A|B =   ✶ ✶ −✶ |✶ ✷ ✸ ✷ |✷ ✶ ✷ ✸ |✷   V✶✷(−✷) ∼ V✶✸(−✶)   ✶ ✶ −✶ |✶ ✵ ✶ ✹ |✶ ✵ ✶ ✹ |✶   V✷✸(−✶) ∼ V✷✸(−✶) ∼   ✶ ✶ −✶ |✶ ✵ ✶ ✹ |✶ ✵ ✵ ✵ |✵   ❋r♦♠ ♠❡♥t✐♦♥❡❞ t❤❡♦r❡♠ ✇❡ ♦❜t❛✐♥ rang(A) = rang(B) = ✷ < ✸✱ ❛♥❞ ✐♥✐t✐❛❧ s②st❡♠ ❤❛s ✐♥✜♥✐t❡❧② ♠❛♥② s♦❧✉t✐♦♥s✱ ✇❤❡r❡ ♥✉♠❜❡r ✸ ❞❡♥♦t❡s t❤❡ ♥✉♠❜❡r ♦❢ ✈❛r✐❛❜❧❡s ✐♥ t❤❡ s②st❡♠ ✭✷✮✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 79

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ♠❡❛♥s t❤❛t s②st❡♠ ✭✷✮ ✐s ❡q✉✐✈❛❧❡♥t t♦ t❤❡ ♥❡①t s②st❡♠✿ x + y − z = ✶✱ y + ✹z = ✶✱ ■❢ ✇❡ t❛❦❡ t❤❡ ✈❛r✐❛❜❧❡ z t♦ ❜❡ ❢r❡❡✱ t❤❛♥ ✇❡ ❝❛♥ ❡①♣r❡ss ✈❛r✐❛❜❧❡s x ❛♥❞ y ✐♥ t❡r♠ ♦❢ z✿ x = ✺z✱ y = ✶ − ✹z✳ ■♥ t❤✐s ❝❛s❡ s♦❧✉t✐♦♥ s❡t ❢♦r s②st❡♠ ✭✶✮ ✐s (✺z✱ ✶ − ✹z✱ z)✱ z ∈ R✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 80

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊❛❝❤ ♦❢ ✉s✱ ✐♥ ♣r❛❝t✐❝❡✱ ♠❡t ✇✐t❤ t❤❡ ❢♦❧❧♦✇✐♥❣ s✐t✉❛t✐♦♥✿ st✉❞❡♥t ♦❢t❡♥ s❛②s t❤❛t ✐♥ t❤❡ ❜❡❣✐♥♥✐♥❣ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧✐❦❡❞ ♠❛t❤✱ ❜✉t ❛t s♦♠❡ ❧❡✈❡❧ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧♦st ❛ st❡♣ ✇✐t❤ t❤❡ ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠✳ ❚❤❡ ♠♦st ❝♦♠♠♦♥ st✉❞❡♥t✬s r❡❛s♦♥s ❢♦r t❤✐s ❛r❡✿ ♠❛t❤ t❡❛❝❤❡r ❞✐❞ ♥♦t ❧✐❦❡ ♠❡✱ ♠❛t❤ t❡❛❝❤❡r ✇❛s ♥♦t ❛ ❣♦♦❞ ❧❡❝t✉r❡r✱ ■ ❤❛✈❡ ♥♦t ♣r❛❝t✐❝❡❞ ❡♥♦✉❣❤ ♠❛t❤✱ ❛t ♦♥❡ ♠♦♠❡♥t ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠ ❤❛s ❜❡❝♦♠❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ♠❡✳ ❚❤❡ ❝♦♥s❡q✉❡♥❝❡ ♦❢ t❤✐s ✐s t❤❛t st✉❞❡♥ts ❛r❡ ♥♦t ♠♦t✐✈❛t❡❞ t♦ ❝♦♥t✐♥✉❡ t♦ ❧❡❛r♥ ♠❛t❤✱ ❜❡❝❛✉s❡ t❤❡② ♥♦ ❧♦♥❣❡r ❤❛✈❡ ❡♥♦✉❣❤ ❦♥♦✇❧❡❞❣❡ ❢♦r ✐t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 81

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊❛❝❤ ♦❢ ✉s✱ ✐♥ ♣r❛❝t✐❝❡✱ ♠❡t ✇✐t❤ t❤❡ ❢♦❧❧♦✇✐♥❣ s✐t✉❛t✐♦♥✿ st✉❞❡♥t ♦❢t❡♥ s❛②s t❤❛t ✐♥ t❤❡ ❜❡❣✐♥♥✐♥❣ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧✐❦❡❞ ♠❛t❤✱ ❜✉t ❛t s♦♠❡ ❧❡✈❡❧ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧♦st ❛ st❡♣ ✇✐t❤ t❤❡ ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠✳ ❚❤❡ ♠♦st ❝♦♠♠♦♥ st✉❞❡♥t✬s r❡❛s♦♥s ❢♦r t❤✐s ❛r❡✿ ♠❛t❤ t❡❛❝❤❡r ❞✐❞ ♥♦t ❧✐❦❡ ♠❡✱ ♠❛t❤ t❡❛❝❤❡r ✇❛s ♥♦t ❛ ❣♦♦❞ ❧❡❝t✉r❡r✱ ■ ❤❛✈❡ ♥♦t ♣r❛❝t✐❝❡❞ ❡♥♦✉❣❤ ♠❛t❤✱ ❛t ♦♥❡ ♠♦♠❡♥t ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠ ❤❛s ❜❡❝♦♠❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ♠❡✳ ❚❤❡ ❝♦♥s❡q✉❡♥❝❡ ♦❢ t❤✐s ✐s t❤❛t st✉❞❡♥ts ❛r❡ ♥♦t ♠♦t✐✈❛t❡❞ t♦ ❝♦♥t✐♥✉❡ t♦ ❧❡❛r♥ ♠❛t❤✱ ❜❡❝❛✉s❡ t❤❡② ♥♦ ❧♦♥❣❡r ❤❛✈❡ ❡♥♦✉❣❤ ❦♥♦✇❧❡❞❣❡ ❢♦r ✐t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 82

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❊❛❝❤ ♦❢ ✉s✱ ✐♥ ♣r❛❝t✐❝❡✱ ♠❡t ✇✐t❤ t❤❡ ❢♦❧❧♦✇✐♥❣ s✐t✉❛t✐♦♥✿ st✉❞❡♥t ♦❢t❡♥ s❛②s t❤❛t ✐♥ t❤❡ ❜❡❣✐♥♥✐♥❣ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧✐❦❡❞ ♠❛t❤✱ ❜✉t ❛t s♦♠❡ ❧❡✈❡❧ ♦❢ s❝❤♦♦❧✐♥❣ ❤❡✴s❤❡ ❧♦st ❛ st❡♣ ✇✐t❤ t❤❡ ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠✳ ❚❤❡ ♠♦st ❝♦♠♠♦♥ st✉❞❡♥t✬s r❡❛s♦♥s ❢♦r t❤✐s ❛r❡✿ ♠❛t❤ t❡❛❝❤❡r ❞✐❞ ♥♦t ❧✐❦❡ ♠❡✱ ♠❛t❤ t❡❛❝❤❡r ✇❛s ♥♦t ❛ ❣♦♦❞ ❧❡❝t✉r❡r✱ ■ ❤❛✈❡ ♥♦t ♣r❛❝t✐❝❡❞ ❡♥♦✉❣❤ ♠❛t❤✱ ❛t ♦♥❡ ♠♦♠❡♥t ♠❛t❤✬s ❝✉rr✐❝✉❧✉♠ ❤❛s ❜❡❝♦♠❡ t♦♦ ❞✐✣❝✉❧t ❢♦r ♠❡✳ ❚❤❡ ❝♦♥s❡q✉❡♥❝❡ ♦❢ t❤✐s ✐s t❤❛t st✉❞❡♥ts ❛r❡ ♥♦t ♠♦t✐✈❛t❡❞ t♦ ❝♦♥t✐♥✉❡ t♦ ❧❡❛r♥ ♠❛t❤✱ ❜❡❝❛✉s❡ t❤❡② ♥♦ ❧♦♥❣❡r ❤❛✈❡ ❡♥♦✉❣❤ ❦♥♦✇❧❡❞❣❡ ❢♦r ✐t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 83

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤✐s ❧❡❝t✉r❡ ■ ✇✐❧❧ tr② t♦ ❣✐✈❡ ♦♥❡ ♣r♦♣♦s✐t✐♦♥ ❢♦r ♦✈❡r❝♦♠✐♥❣ t❤✐s ♣r♦❜❧❡♠ ✉s✐♥❣ ❇❡❛♠❡r✳ ❲❤❡♥ ②♦✉ ❝r❡❛t✐♥❣ ❧❡❝t✉r❡ ❛s ❛ ♣r❡s❡♥t❛t✐♦♥✱ ②♦✉ ♠✐❣❤t ❝r❡❛t❡ s♦♠❡ ❡①tr❛ s❧✐❞❡s ✇❤✐❝❤ ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ t❤❛t ❝♦✉❧❞ ❝❛✉s❡ ♣r♦❜❧❡♠ t♦ t❤❡ st✉❞❡♥t t♦ ❢♦❧❧♦✇s t❤❡ t♦♣✐❝ ❢r♦♠ t❤❡ ❝✉rr❡♥t ❧❡❝t✉r❡✳ ■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ❜❡s✐❞❡ ❛ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t✐♦♥ ♦r ♠❡t❤♦❞ t❤❛t ②♦✉ ❛ss✉♠❡ t❤❡ st✉❞❡♥t ❢r♦♠ t❤❡ ♣r❡✈✐♦✉s s❝❤♦♦❧✐♥❣ ❞♦❡s ♥♦t ❦♥♦✇✳ ❈❧✐❝❦✐♥❣ ♦♥ t❤❡ ❤②♣❡r❧✐♥❦✱ t❤❡ st✉❞❡♥t ✐s tr❛♥s❢❡rr❡❞ t♦ t❤❡ t♦♣✐❝ ✇❤✐❝❤ ❤❡✴s❤❡ ❞♦❡s ♥♦t ❦♥♦✇ ❡♥♦✉❣❤✱ t♦ ❧❡❛r♥ ✐t ✜rst✳ ❆t t❤❡ ❡♥❞ ♦❢ t❤❛t t♦♣✐❝✱ ②♦✉ ♠❛② ❛❧s♦ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ✇❤✐❝❤ r❡t✉r♥s st✉❞❡♥t t♦ ♦r✐❣✐♥❛❧ ♣❧❛❝❡ ✐♥ t❤❡ t❡①t✳ ◆♦✇✱ ■ ✇✐❧❧ ❣✐✈❡ ♦♥❡ ❡①❛♠♣❧❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 84

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤✐s ❧❡❝t✉r❡ ■ ✇✐❧❧ tr② t♦ ❣✐✈❡ ♦♥❡ ♣r♦♣♦s✐t✐♦♥ ❢♦r ♦✈❡r❝♦♠✐♥❣ t❤✐s ♣r♦❜❧❡♠ ✉s✐♥❣ ❇❡❛♠❡r✳ ❲❤❡♥ ②♦✉ ❝r❡❛t✐♥❣ ❧❡❝t✉r❡ ❛s ❛ ♣r❡s❡♥t❛t✐♦♥✱ ②♦✉ ♠✐❣❤t ❝r❡❛t❡ s♦♠❡ ❡①tr❛ s❧✐❞❡s ✇❤✐❝❤ ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ t❤❛t ❝♦✉❧❞ ❝❛✉s❡ ♣r♦❜❧❡♠ t♦ t❤❡ st✉❞❡♥t t♦ ❢♦❧❧♦✇s t❤❡ t♦♣✐❝ ❢r♦♠ t❤❡ ❝✉rr❡♥t ❧❡❝t✉r❡✳ ■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ❜❡s✐❞❡ ❛ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t✐♦♥ ♦r ♠❡t❤♦❞ t❤❛t ②♦✉ ❛ss✉♠❡ t❤❡ st✉❞❡♥t ❢r♦♠ t❤❡ ♣r❡✈✐♦✉s s❝❤♦♦❧✐♥❣ ❞♦❡s ♥♦t ❦♥♦✇✳ ❈❧✐❝❦✐♥❣ ♦♥ t❤❡ ❤②♣❡r❧✐♥❦✱ t❤❡ st✉❞❡♥t ✐s tr❛♥s❢❡rr❡❞ t♦ t❤❡ t♦♣✐❝ ✇❤✐❝❤ ❤❡✴s❤❡ ❞♦❡s ♥♦t ❦♥♦✇ ❡♥♦✉❣❤✱ t♦ ❧❡❛r♥ ✐t ✜rst✳ ❆t t❤❡ ❡♥❞ ♦❢ t❤❛t t♦♣✐❝✱ ②♦✉ ♠❛② ❛❧s♦ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ✇❤✐❝❤ r❡t✉r♥s st✉❞❡♥t t♦ ♦r✐❣✐♥❛❧ ♣❧❛❝❡ ✐♥ t❤❡ t❡①t✳ ◆♦✇✱ ■ ✇✐❧❧ ❣✐✈❡ ♦♥❡ ❡①❛♠♣❧❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 85

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤✐s ❧❡❝t✉r❡ ■ ✇✐❧❧ tr② t♦ ❣✐✈❡ ♦♥❡ ♣r♦♣♦s✐t✐♦♥ ❢♦r ♦✈❡r❝♦♠✐♥❣ t❤✐s ♣r♦❜❧❡♠ ✉s✐♥❣ ❇❡❛♠❡r✳ ❲❤❡♥ ②♦✉ ❝r❡❛t✐♥❣ ❧❡❝t✉r❡ ❛s ❛ ♣r❡s❡♥t❛t✐♦♥✱ ②♦✉ ♠✐❣❤t ❝r❡❛t❡ s♦♠❡ ❡①tr❛ s❧✐❞❡s ✇❤✐❝❤ ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ t❤❛t ❝♦✉❧❞ ❝❛✉s❡ ♣r♦❜❧❡♠ t♦ t❤❡ st✉❞❡♥t t♦ ❢♦❧❧♦✇s t❤❡ t♦♣✐❝ ❢r♦♠ t❤❡ ❝✉rr❡♥t ❧❡❝t✉r❡✳ ■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ❜❡s✐❞❡ ❛ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t✐♦♥ ♦r ♠❡t❤♦❞ t❤❛t ②♦✉ ❛ss✉♠❡ t❤❡ st✉❞❡♥t ❢r♦♠ t❤❡ ♣r❡✈✐♦✉s s❝❤♦♦❧✐♥❣ ❞♦❡s ♥♦t ❦♥♦✇✳ ❈❧✐❝❦✐♥❣ ♦♥ t❤❡ ❤②♣❡r❧✐♥❦✱ t❤❡ st✉❞❡♥t ✐s tr❛♥s❢❡rr❡❞ t♦ t❤❡ t♦♣✐❝ ✇❤✐❝❤ ❤❡✴s❤❡ ❞♦❡s ♥♦t ❦♥♦✇ ❡♥♦✉❣❤✱ t♦ ❧❡❛r♥ ✐t ✜rst✳ ❆t t❤❡ ❡♥❞ ♦❢ t❤❛t t♦♣✐❝✱ ②♦✉ ♠❛② ❛❧s♦ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ✇❤✐❝❤ r❡t✉r♥s st✉❞❡♥t t♦ ♦r✐❣✐♥❛❧ ♣❧❛❝❡ ✐♥ t❤❡ t❡①t✳ ◆♦✇✱ ■ ✇✐❧❧ ❣✐✈❡ ♦♥❡ ❡①❛♠♣❧❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 86

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤✐s ❧❡❝t✉r❡ ■ ✇✐❧❧ tr② t♦ ❣✐✈❡ ♦♥❡ ♣r♦♣♦s✐t✐♦♥ ❢♦r ♦✈❡r❝♦♠✐♥❣ t❤✐s ♣r♦❜❧❡♠ ✉s✐♥❣ ❇❡❛♠❡r✳ ❲❤❡♥ ②♦✉ ❝r❡❛t✐♥❣ ❧❡❝t✉r❡ ❛s ❛ ♣r❡s❡♥t❛t✐♦♥✱ ②♦✉ ♠✐❣❤t ❝r❡❛t❡ s♦♠❡ ❡①tr❛ s❧✐❞❡s ✇❤✐❝❤ ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ t❤❛t ❝♦✉❧❞ ❝❛✉s❡ ♣r♦❜❧❡♠ t♦ t❤❡ st✉❞❡♥t t♦ ❢♦❧❧♦✇s t❤❡ t♦♣✐❝ ❢r♦♠ t❤❡ ❝✉rr❡♥t ❧❡❝t✉r❡✳ ■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ❜❡s✐❞❡ ❛ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t✐♦♥ ♦r ♠❡t❤♦❞ t❤❛t ②♦✉ ❛ss✉♠❡ t❤❡ st✉❞❡♥t ❢r♦♠ t❤❡ ♣r❡✈✐♦✉s s❝❤♦♦❧✐♥❣ ❞♦❡s ♥♦t ❦♥♦✇✳ ❈❧✐❝❦✐♥❣ ♦♥ t❤❡ ❤②♣❡r❧✐♥❦✱ t❤❡ st✉❞❡♥t ✐s tr❛♥s❢❡rr❡❞ t♦ t❤❡ t♦♣✐❝ ✇❤✐❝❤ ❤❡✴s❤❡ ❞♦❡s ♥♦t ❦♥♦✇ ❡♥♦✉❣❤✱ t♦ ❧❡❛r♥ ✐t ✜rst✳ ❆t t❤❡ ❡♥❞ ♦❢ t❤❛t t♦♣✐❝✱ ②♦✉ ♠❛② ❛❧s♦ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ✇❤✐❝❤ r❡t✉r♥s st✉❞❡♥t t♦ ♦r✐❣✐♥❛❧ ♣❧❛❝❡ ✐♥ t❤❡ t❡①t✳ ◆♦✇✱ ■ ✇✐❧❧ ❣✐✈❡ ♦♥❡ ❡①❛♠♣❧❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 87

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

■♥ t❤✐s ❧❡❝t✉r❡ ■ ✇✐❧❧ tr② t♦ ❣✐✈❡ ♦♥❡ ♣r♦♣♦s✐t✐♦♥ ❢♦r ♦✈❡r❝♦♠✐♥❣ t❤✐s ♣r♦❜❧❡♠ ✉s✐♥❣ ❇❡❛♠❡r✳ ❲❤❡♥ ②♦✉ ❝r❡❛t✐♥❣ ❧❡❝t✉r❡ ❛s ❛ ♣r❡s❡♥t❛t✐♦♥✱ ②♦✉ ♠✐❣❤t ❝r❡❛t❡ s♦♠❡ ❡①tr❛ s❧✐❞❡s ✇❤✐❝❤ ❝♦♥t❛✐♥ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ t❤❛t ❝♦✉❧❞ ❝❛✉s❡ ♣r♦❜❧❡♠ t♦ t❤❡ st✉❞❡♥t t♦ ❢♦❧❧♦✇s t❤❡ t♦♣✐❝ ❢r♦♠ t❤❡ ❝✉rr❡♥t ❧❡❝t✉r❡✳ ■♥ ❇❡❛♠❡r ②♦✉ ❝❛♥ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ❜❡s✐❞❡ ❛ ♠❛t❤❡♠❛t✐❝❛❧ ♥♦t✐♦♥ ♦r ♠❡t❤♦❞ t❤❛t ②♦✉ ❛ss✉♠❡ t❤❡ st✉❞❡♥t ❢r♦♠ t❤❡ ♣r❡✈✐♦✉s s❝❤♦♦❧✐♥❣ ❞♦❡s ♥♦t ❦♥♦✇✳ ❈❧✐❝❦✐♥❣ ♦♥ t❤❡ ❤②♣❡r❧✐♥❦✱ t❤❡ st✉❞❡♥t ✐s tr❛♥s❢❡rr❡❞ t♦ t❤❡ t♦♣✐❝ ✇❤✐❝❤ ❤❡✴s❤❡ ❞♦❡s ♥♦t ❦♥♦✇ ❡♥♦✉❣❤✱ t♦ ❧❡❛r♥ ✐t ✜rst✳ ❆t t❤❡ ❡♥❞ ♦❢ t❤❛t t♦♣✐❝✱ ②♦✉ ♠❛② ❛❧s♦ ♣❧❛❝❡ ❛ ❤②♣❡r❧✐♥❦ ✇❤✐❝❤ r❡t✉r♥s st✉❞❡♥t t♦ ♦r✐❣✐♥❛❧ ♣❧❛❝❡ ✐♥ t❤❡ t❡①t✳ ◆♦✇✱ ■ ✇✐❧❧ ❣✐✈❡ ♦♥❡ ❡①❛♠♣❧❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 88

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤❡ s✐♠♣❧❡st ❦✐♥❞ ♦❢ ❧✐♥❡❛r s②st❡♠ ✐♥✈♦❧✈❡s t✇♦ ❡q✉❛t✐♦♥s ❛♥❞ t✇♦ ✈❛r✐❛❜❧❡s✿ a✶✶x✶ + a✶✷x✷ = b✶ a✷✶x✶ + a✷✷x✷ = b✷ ✭✸✮ ■❢ ✇❡ s♦❧✈❡ s②st❡♠ ✭✸✮ ✇✐t❤ s♦♠❡ ♦❢ ✇❡❧❧✲❦♥♦✇♥ ♠❡t❤♦❞s✱ ❢♦r ❡①❛♠♣❧❡✱ ✇✐t❤ ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✭❚❤❡ ♠❡t❤♦❞ ♦❢ ♦♣♣♦s✐t❡ ❝♦❡✣❝✐❡♥ts✮✱ ✇❡ ♦❜t❛✐♥ t❤❛t ❛ ✉♥✐q✉❡ s♦❧✉t✐♦♥ t♦ t❤❡ s②st❡♠ ✭✸✮ ✐s ❣✐✈❡♥ ❜②

✶ ✷✷ ✶ ✶✷ ✷ ✶✶ ✷✷ ✷✶ ✶✷ ✷ ✶✶ ✶ ✷✶ ✷ ✶✶ ✷✷ ✷✶ ✶✷

✭✹✮ ✉♥❞❡r ❝♦♥❞✐t✐♦♥

✶✶ ✷✷ ✷✶ ✶✷

✵✳

♠♦r❡ ❛❜♦✉t ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✳

❚❤❡ ❡①✐st❡♥❝❡ ♦❢ ❛ ✉♥✐❣✉❡ s♦❧✉t✐♦♥ ❣✐✈❡♥ ❜② ✭✹✮ ❢♦r s②st❡♠ ✭✸✮ ✐s ❞❡t❡r♠✐♥❡❞ ❜② t❤❡ ❝♦♥❞✐t✐♦♥

✶✶ ✷✷ ✷✶ ✶✷

✵✱ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ t❤❡ s❡❝♦♥❞ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 89

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤❡ s✐♠♣❧❡st ❦✐♥❞ ♦❢ ❧✐♥❡❛r s②st❡♠ ✐♥✈♦❧✈❡s t✇♦ ❡q✉❛t✐♦♥s ❛♥❞ t✇♦ ✈❛r✐❛❜❧❡s✿ a✶✶x✶ + a✶✷x✷ = b✶ a✷✶x✶ + a✷✷x✷ = b✷ ✭✸✮ ■❢ ✇❡ s♦❧✈❡ s②st❡♠ ✭✸✮ ✇✐t❤ s♦♠❡ ♦❢ ✇❡❧❧✲❦♥♦✇♥ ♠❡t❤♦❞s✱ ❢♦r ❡①❛♠♣❧❡✱ ✇✐t❤ ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✭❚❤❡ ♠❡t❤♦❞ ♦❢ ♦♣♣♦s✐t❡ ❝♦❡✣❝✐❡♥ts✮✱ ✇❡ ♦❜t❛✐♥ t❤❛t ❛ ✉♥✐q✉❡ s♦❧✉t✐♦♥ t♦ t❤❡ s②st❡♠ ✭✸✮ ✐s ❣✐✈❡♥ ❜② x✶ = a✷✷b✶ − a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷ x✷ = a✶✶b✶ − a✷✶b✷ a✶✶a✷✷ − a✷✶a✶✷ ✭✹✮ ✉♥❞❡r ❝♦♥❞✐t✐♦♥ a✶✶a✷✷ − a✷✶a✶✷ = ✵✳

♠♦r❡ ❛❜♦✉t ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✳

❚❤❡ ❡①✐st❡♥❝❡ ♦❢ ❛ ✉♥✐❣✉❡ s♦❧✉t✐♦♥ ❣✐✈❡♥ ❜② ✭✹✮ ❢♦r s②st❡♠ ✭✸✮ ✐s ❞❡t❡r♠✐♥❡❞ ❜② t❤❡ ❝♦♥❞✐t✐♦♥

✶✶ ✷✷ ✷✶ ✶✷

✵✱ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ t❤❡ s❡❝♦♥❞ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 90

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤❡ s✐♠♣❧❡st ❦✐♥❞ ♦❢ ❧✐♥❡❛r s②st❡♠ ✐♥✈♦❧✈❡s t✇♦ ❡q✉❛t✐♦♥s ❛♥❞ t✇♦ ✈❛r✐❛❜❧❡s✿ a✶✶x✶ + a✶✷x✷ = b✶ a✷✶x✶ + a✷✷x✷ = b✷ ✭✸✮ ■❢ ✇❡ s♦❧✈❡ s②st❡♠ ✭✸✮ ✇✐t❤ s♦♠❡ ♦❢ ✇❡❧❧✲❦♥♦✇♥ ♠❡t❤♦❞s✱ ❢♦r ❡①❛♠♣❧❡✱ ✇✐t❤ ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✭❚❤❡ ♠❡t❤♦❞ ♦❢ ♦♣♣♦s✐t❡ ❝♦❡✣❝✐❡♥ts✮✱ ✇❡ ♦❜t❛✐♥ t❤❛t ❛ ✉♥✐q✉❡ s♦❧✉t✐♦♥ t♦ t❤❡ s②st❡♠ ✭✸✮ ✐s ❣✐✈❡♥ ❜② x✶ = a✷✷b✶ − a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷ x✷ = a✶✶b✶ − a✷✶b✷ a✶✶a✷✷ − a✷✶a✶✷ ✭✹✮ ✉♥❞❡r ❝♦♥❞✐t✐♦♥ a✶✶a✷✷ − a✷✶a✶✷ = ✵✳

♠♦r❡ ❛❜♦✉t ❆❞❞✐t✐♦♥ ♠❡t❤♦❞ ✳

❚❤❡ ❡①✐st❡♥❝❡ ♦❢ ❛ ✉♥✐❣✉❡ s♦❧✉t✐♦♥ ❣✐✈❡♥ ❜② ✭✹✮ ❢♦r s②st❡♠ ✭✸✮ ✐s ❞❡t❡r♠✐♥❡❞ ❜② t❤❡ ❝♦♥❞✐t✐♦♥ a✶✶a✷✷ − a✷✶a✶✷ = ✵✱ ✇❤✐❝❤ ✐s ❝❛❧❧❡❞ t❤❡ s❡❝♦♥❞ ♦r❞❡r ❞❡t❡r♠✐♥❛♥t✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 91

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 92

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 93

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 94

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 95

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 96

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ♠❛t❤❡♠❛t✐❝s

❚❤✐s ✇❛② ♦❢ ❝r❡❛t✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❤❛✈❡ s❡✈❡r❛❧ ✐♠♣♦rt❛♥t ❛❞✈❛♥t❛❣❡s✿ t❤❡ ♠❛✐♥ t❡①t ✐s ♥♦t ♦✈❡r❧♦❛❞❡❞ ✇✐t❤ ✉♥♥❡❝❡ss❛r② ✐♥❢♦r♠❛t✐♦♥✱ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❛r❡ ❛❞❛♣t❡❞ t♦ ❛❧❧ st✉❞❡♥ts✱ ❛❝❝♦r❞✐♥❣ t♦ t❤❡✐r ❧❡✈❡❧ ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ st✉❞❡♥ts ❧❡❛r♥ ❛t ❛ ♣❛❝❡ t❤❛t s✉✐t t❤❡♠✱ ❛❧❧ t❤❡ ♥❡❝❡ss❛r② ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡ ❛r❡ ❛t t❤❡ s❛♠❡ ❧♦❝❛t✐♦♥✱ ♠♦r❡ ❜r♦❛❞❧②✱ ❛❧❧ ♠❛t❤ t❡❛❝❤❡rs ❢r♦♠ t❤❡ s❛♠❡ s❝❤♦♦❧ ❝❛♥ ❝r❡❛t❡ r❡♣♦s✐t♦r② ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❦♥♦✇❧❡❞❣❡✱ ❢r♦♠ ✇❤✐❝❤ t❤❡② ❝❛♥ ♣✐❝❦ ✉♣ ♥❡❝❡ss❛r② t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ❝r❡❛t✐♥❣ s♦♠❡ ♠❛t❤❡♠❛t✐❝❛❧ ❧❡❝t✉r❡✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 97

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 98

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 99

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 100

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 101

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 102

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❯s✐♥❣ ❛ ♠♦❞❡r♥ ♠✉❧t✐♠❡❞✐❛ ❧❡❛r♥✐♥❣ ♠❛t❡r✐❛❧s✱ t❤❡ ❞❡✜❝✐❡♥❝✐❡s ♦❢ tr❛❞✐t✐♦♥❛❧ t❡❛❝❤✐♥❣ ♦❢ ♠❛t❤❡♠❛t✐❝s ❝❛♥ ❜❡ ♦✈❡r❝♦♠❡✳ ❆❧s♦✱ ❡✲❧❡❛r♥✐♥❣ ✐s ❜❛s❡❞ ♦♥ t❤❡♠✳ ❇❡❛♠❡r ✐s ❛ ▲

❆❚

❊❳ ❝❧❛ss ❢♦r ❝r❡❛t✐♥❣ ♣r❡s❡♥t❛t✐♦♥s t❤❛t ❛r❡ ❤❡❧❞ ✉s✐♥❣ ❛ ♣r♦❥❡❝t♦r✱ ❜✉t ✐t ❝❛♥ ❛❧s♦ ❜❡ ✉s❡❞ t♦ ❝r❡❛t❡ tr❛♥s♣❛r❡♥❝② s❧✐❞❡s✳ ■t ✐s ❡s♣❡❝✐❛❧❧② ✉s❡❢✉❧ ❢♦r ♣r❡s❡♥t❛t✐♦♥s ✇✐t❤ ❧♦ts ♦❢ ♠❛t❤❡♠❛t✐❝❛❧ ❢♦r♠✉❧❛s✳ ❲✐t❤ ❛❧❧ ♠❡♥t✐♦♥❡❞ ♣r♦♣❡rt✐❡s✱ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❛s ❧❡❛r♥✐♥❣ ❛✐❞s ✐♥ t❡❛❝❤✐♥❣ ♠❛t❤❡♠❛t✐❝s✳ ■♥ ❇❡❛♠❡r ❝❛♥ ❜❡ ✐♥❝❧✉❞❡ ♠✉❧t✐♠❡❞✐❛ ❝♦♥t❡♥t s✉❝❤ ❛s ✈✐❞❡♦ ❝❧✐♣s✱ ✐♠❛❣❡s✱ ✈♦✐❝❡ ❛♥❞ ❡t❝✳ ❇❡❛♠❡r ❝❛♥ ❜❡ ✉s❡❞ ❡✐t❤❡r ❢♦r ♠❛❦✐♥❣ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r tr❛❞✐t✐♦♥❛❧ st✉❞❡♥ts ❛♥❞ ❡✲❧❡❛r♥✐♥❣ st✉❞❡♥ts✳

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 103

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❚❍❆◆❑ ❨❖❯ ❋❖❘ ❆❚❚❊◆❚■❖◆✦

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 104

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❛♥❞ ❇❡❛♠❡r ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

▼❡t♦❞ s✉♣r♦t♥✐❤ ❦♦❡✜❝✐❥❡♥❛t❛ ♣r❡❞st❛✈❧❥❛ ❥❡❞♥✉ ♦❞ ❡❧❡♠❡♥t❛r♥✐❤ ♠❡t♦❞❛ ③❛ r❡✞ s❛✈❛♥❥❡ s✐st❡♠❛ ❧✐♥❡❛r♥✐❤ ❥❡❞♥❛✞ ❝✐♥❛✳ ❯ s❧✉✞ ❝❛❥✉ s✐st❡♠❛ ♦❞ ❞✈❡ ❧✐♥❡❛r♥❡ ❥❡❞♥❛✞ ❝✐♥❡✱ s❛ ❞✈❡ ♣r♦♠❡♥❧❥✐✈❡ ♠❡t♦❞❛ s❡ ♣r✐♠❡♥❥✉❥❡ ❥❡❞♥♦st❛✈♥♦✳ ■❧✉str✉✈❛✁ ❝❡♠♦ ♣r✐♠❡r♦♠✳ ❘❡✞ s✐t✐ s❧❡❞❡✁ ❝✐ s✐st❡♠ ♠❡t♦❞ s✉♣r♦t♥✐❤ ❦♦❡✜❝✐❥❡♥❛t❛✿ ✷x + ✺y = ✷✵✹ ✾x − ✸y = ✷✵✹ ✭✺✮ ■③ ❞❛t♦❣ s✐st❡♠❛ ❡❧✐♠✐♥✐s❛✁ ❝❡♠♦ ♣r♦♠❡♥❧❥✐✈✉ y t❛❦♦ ✞ st♦ ✁ ❝❡♠♦ ♣r✈✉ ❥❡❞♥❛✞ ❝✐♥✉ ♣♦♠♥♦✞ ③✐t✐ s❛ ✸✱ ❞r✉❣✉ s❛ ✺✿ ✷x + ✺y = ✷✵✹ / · ✸ ✾x − ✸y = ✷✵✹ / · ✺ ❉❛❦❧❡✱ ❝✐❧❥ ❥❡ ❞❛ s❡ ✐s♣r❡❞ ♣r♦♠❡♥❧❥✐✈❡ y ♥❛♣r❛✈❡ s✉♣r♦t♥✐ ❦♦❡✜❝✐❥❡♥t✐ ✉ ❥❡❞♥❛✞ ❝✐♥❛♠❛ s✐st❡♠❛✳ ❚❛❞❛ ❞♦❜✐❥❛♠♦✿

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 105

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❛♥❞ ❇❡❛♠❡r ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

✻x + ✶✺y = ✻✶✷ ✹✺x − ✶✺y = ✶✵✷✵ ❙❛❜✐r❛❥✉✁ ❝✐ ♣♦s❧❡❞♥❥❡ ❞✈❡ ❥❡❞♥❛✞ ❝✐♥❡ ✐♠❛♠♦ ✺✶x = ✶✻✸✷ t❥✳ ❞❛ ❥❡ x = ✸✷✳ ❱r❛✁ ❝❛❥✉✁ ❝✐ ♦✈✉ ✈r❡❞♥♦st ✉ ♥❡❦✉ ♦❞ ❥❡❞♥❛✞ ❝✐♥❛ ♣♦✞ ❝❡t♥♦❣ s✐st❡♠❛ ✭✺✮✱ ♥❛ ♣r✐♠❡r ♣r✈✉ ✐♠❛♠♦ ❞❛ ❥❡ ✻✹ + ✺y = ✷✵✹✱ t❥✳ ✺y = ✶✹✵✱ t❥✳ y = ✷✽✳ P♦s♠❛tr❛❥♠♦ s❛❞❛ ♦♣✞ st✐ ♦❜❧✐❦ s✐st❡♠❛ ♦❞ ❞✈❡ ❧✐♥❡❛r♥❡ ❥❡❞♥❛✞ ❝✐♥❡ s❛ ❞✈❡ ♥❡♣♦③♥❛t❡✿ a✶✶x✶ + a✶✷x✷ = b✶✱ a✷✶x✶ + a✷✷x✷ = b✷✳ ✭✻✮ ❖❞r❡❞✐✁ ❝❡♠♦ ♥❥❡❣♦✈❛ r❡✞ s❡♥❥❛ ♠❡t♦❞♦♠ s✉♣r♦t♥✐❤ ❦♦❡✜❝✐❥❡♥❛t❛✳ ❙ ❝✐❧❥❡♠ ❞❛ ❡❧✐♠✐♥✐✞ s❡♠♦ ♣r♦♠❡♥❧❥✐✈✉ x✷✱ ✉r❛❞✐✁ ❝❡♠♦ s❧❡❞❡✁ ❝❡✿ a✶✶x✶ + a✶✷x✷ = b✶ / · a✷✷ a✷✶x✶ + a✷✷x✷ = b✷ / · (−a✶✷) ❚❛❞❛ ❞♦❜✐❥❛♠♦✿

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 106

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❛♥❞ ❇❡❛♠❡r ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

a✶✶a✷✷x✶ + a✶✷a✷✷x✷ = a✷✷b✶ −a✶✷a✷✶x✶ − a✶✷a✷✷x✷ = −a✶✷b✷ ❙❛❜✐r❛♥❥❡♠ ♣♦s❧❡❞♥❥❡ ❞✈❡ ❥❡❞♥❛✞ ❝✐♥❡ ✐♠❛♠♦ (a✶✶a✷✷ − a✶✷a✷✶)x✶ = a✷✷b✶ − a✶✷b✷✱ ♦❞♥♦s♥♦ x✶ = a✷✷b✶ − a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷ ✳ ❱r❛✁ ❝❛❥✉✁ ❝✐ ❞♦❜✐❥❡♥✉ ✈r❡❞♥♦st ③❛ x✶ ✉ ♥♣r✳ ♣r✈✉ ❥❡❞♥❛✞ ❝✐♥✉ ♣♦✞ ❝❡t♥♦❣ s✐st❡♠❛ ✭✻✮✱ ♠♦✞ ③❡♠♦ ❞❛ ✐③r❛✞ ❝✉♥❛♠♦ ♣r♦♠❡♥❧❥✐✈✉ x✷✿ a✶✶ a✷✷b✶ − a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷ +a✶✷x✷ = b✶✱ ♦❞♥♦s♥♦ a✶✷x✷ = b✶−a✶✶ a✷✷b✶ − a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷

▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛

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SLIDE 107

Pr❡❢❛❝❡ ❆❜♦✉t ▲

❚ ❊❳ ❆❜♦✉t ❇❡❛♠❡r ■♠♣r♦✈✐♥❣ t❤❡ t❡❛❝❤✐♥❣ ♠❛t❤ ✉s✐♥❣ t❤❡ ❇❡❛♠❡r ❈♦♥❝❧✉s✐♦♥ ❆♣♣❡♥❞✐① ❙♦❢t✇❛r❡ ♣❛❝❦❛❣❡ ▲

❚ ❊❳ ❛♥❞ ❇❡❛♠❡r ❢♦r ♣r❡♣❛r❛t✐♦♥ t❡❛❝❤✐♥❣ ♠❛t❡r✐❛❧s ❢♦r ▼❛t❤

❙r❡❞❥✐✈❛♥❥❡♠ ♣♦s❧❡❞♥❥❡ ❥❡❞♥❛✞ ❝✐♥❡ ❞♦❜✐❥❛♠♦✿ a✶✷x✷ = a✶✶a✷✷b✶ − a✷✶a✶✷b✶ − a✶✶a✷✷b✶ + a✶✶a✶✷b✷ a✶✶a✷✷ − a✷✶a✶✷ ✱ ♦❞♥♦s♥♦ ♥❛❦♦♥ ♣♦t✐r❛♥❥❛ ♣r✈♦❣ ✐ tr❡✁ ❝❡❣ ✞ ❝❧❛♥❛ ✐③ ❜r♦❥✐♦❝❛ ✐ ✐③✈❧❛✞ ❝❡♥❥❛ ③❛❥❡❞♥✐✞ ❝❦♦❣ ❡❧❡♠❡♥t❛ a✶✷ ③❛ ♣r❡♦st❛❧❡ ✞ ❝❧❛♥♦✈❡ ❞♦❜✐❥❛♠♦ a✶✷x✷ = a✶✷(a✶✶b✷ − a✷✶b✶) a✶✶a✷✷ − a✷✶a✶✷ ✱ ❉❛❦❧❡✱ ♥❛❦♦♥ s❦r❛✁ ❝✐✈❛♥❥❛ s❛ a✶✷✱ ❦♦♥❛✞ ❝♥♦ ❥❡ x✷ = a✶✶b✷ − a✷✶b✶ a✶✶a✷✷ − a✷✶a✶✷ ✳ ❙✈❛❦❛❦♦✱ ♣r♦♠❡♥❧❥✐✈❡ x✶ ✐ x✷ ❥❡ ♠♦❣✉✁ ❝❡ ♦❞r❡❞✐t✐ ♣♦❞ ♣r❡t♣♦st❛✈❦♦♠ ❞❛ ❥❡ a✶✶a✷✷ − a✷✶a✶✷ = ✵ ✐ t❛❞❛ ❦❛✞ ③❡♠♦ ❞❛ s✐st❡♠ ✭✻✮ ✐♠❛ ❥❡❞✐♥st✈❡♥♦ r❡✞ s❡♥❥❡✳ ❯ s✉♣r♦t♥♦♠ s✐st❡♠ ✐♠❛ ✐❧✐ ❜❡s❦♦♥❛✞ ❝♥♦ ♠♥♦❣♦ r❡✞ s❡♥❥❛ ✐❧✐ ✐❤ ♥❡♠❛ ✉♦♣✞ st❡✳

❇❛❝❦ t♦ ♠❛✐♥ t❡①t ▲❡❝t✉r❡r✿ P❤❉ ❘❛❧❡ ◆✐❦♦❧✐✁ ❝✱ ❇❡❧❣r❛❞❡ ▼❡tr♦♣♦❧✐t❛♥ ❯♥✐✈❡rs✐t② ■♥t❡r♥❛t✐♦♥❛❧ ❙✉♠♠❡r ❙❝❤♦♦❧ ♦♥ ❱✐s✉❛❧ ▼❛t❤❡♠❛t✐❝s✱ ❏✉❧② ✶✸t❤✕✷✻t❤✱ ✷✵✶✹✱ ❇❡❧❣r❛❞❡✱ ❙❡r❜✐❛