Schroders

Live  

Schroders is a British multinational asset management company founded in 1804. The company is based in London, UK and is listed on the London Stock Exchange. Schroders offers a wide range of investment management services including equities, fixed income, multi-asset and alternative investments. The company has a global presence with offices in over 25 countries and manages assets for institutional and retail clients from around the world.
Through its investment management services, Schroders aims to help clients achieve their financial goals by providing them with innovative and flexible investment solutions. The company’s approach to investment management is guided by its core values of integrity, teamwork, and excellence. Schroders is committed to responsible investing and incorporates environmental, social, and governance factors into its investment decisions.
In addition to its investment management services, Schroders also offers wealth management and private banking services through its subsidiary, Cazenove Capital. The company has a strong culture of corporate responsibility, with a focus on sustainable and ethical business practices, as well as giving back to the community through various initiatives and partnerships.
Overall, Schroders is a leading asset management company with a long history of success and a strong commitment to providing clients with expert investment solutions.

U2Nocm9kZX JzIGlzIGEg Y29tcGFueS B0aGF0IGhl bHBzIHBlb3 BsZSBhbmQg YnVzaW5lc3 NlcyBpbnZl c3QgdGhlaX IgbW9uZXku IFRoaW5rIG 9mIGl0IGxp a2UgYSB0cm Vhc3VyZSBt YXAuIFdoZW 4gc29tZW9u ZSB3YW50cy B0byBtYWtl IHRoZWlyIG 1vbmV5IGdy b3csIHRoZX kgY2FuIGdp dmUgaXQgdG 8gU2Nocm9k ZXJzLCBhbm QgdGhlIHRl YW0gdGhlcm UgaGVscHMg dGhlbSBmaW 5kIHRoZSBi ZXN0IHNwb3 RzIHRvIGlu dmVzdCwgbG lrZSBpbiBj b21wYW5pZX MsIGJvbmRz LCBvciByZW FsIGVzdGF0 ZS4gPGJyPl NjaHJvZGVy cyBtYWtlcy Btb25leSBi eSBjaGFyZ2 luZyBhIGZl ZSBmb3IgaX RzIHNlcnZp Y2VzLiBXaG VuIHBlb3Bs ZSBwYXkgdG 8gaW52ZXN0 IHRoZWlyIG 1vbmV5IHdp dGggdGhlbS wgdGhleSB0 YWtlIGEgc2 1hbGwgcGVy Y2VudGFnZS BvZiB0aGF0 IG1vbmV5IG FzIGEgcGF5 bWVudCBmb3 IgaGVscGlu ZyB0byBtYW 5hZ2UgaXQu IEl04oCZcy BsaWtlIGlm IHlvdSBoZW xwIGEgZnJp ZW5kIHNlbG wgbGVtb25h ZGUsIGFuZC B0aGV5IGdp dmUgeW91IH NvbWUgbW9u ZXkgZm9yIH lvdXIgaGVs cC48YnI+T2 5lIHJlYXNv biB3aHkgU2 Nocm9kZXJz IGlzIHN1Y2 Nlc3NmdWwg aXMgdGhhdC B0aGV5IGhh dmUgYSBsb2 5nIGhpc3Rv cnksIGFuZC BtYW55IHBl b3BsZSB0cn VzdCB0aGVt IHRvIG1hbm FnZSB0aGVp ciBtb25leS B3aXNlbHku IFRoZXkgaG F2ZSBleHBl cnRzIHdoby BzdHVkeSB0 aGUgbWFya2 V0IGFuZCBk ZWNpZGUgdG hlIGJlc3Qg cGxhY2VzIH RvIHB1dCBt b25leSBzby BpdCBjYW4g Z3Jvdy4gVG hpcyBza2ls bCBoZWxwcy B0aGVtIGtl ZXAgdGhlaX IgY2xpZW50 cyBoYXBweS 48YnI+TG9v a2luZyB0by B0aGUgZnV0 dXJlLCBTY2 hyb2RlcnMg aXMgbGlrZW x5IHRvIHN0 YXkgc3VjY2 Vzc2Z1bCBi ZWNhdXNlIG 1vcmUgYW5k IG1vcmUgcG VvcGxlIGFu ZCBjb21wYW 5pZXMgd2Fu dCB0byBpbn Zlc3QgdGhl aXIgbW9uZX kuIEFzIHBl b3BsZSBsZW FybiBtb3Jl IGFib3V0IG ludmVzdGlu ZywgdGhlee KAmWxsIHNl ZWsgb3V0IH RydXN0ZWQg Y29tcGFuaW VzIGxpa2Ug U2Nocm9kZX JzIHRvIGhl bHAgdGhlbS 4gUGx1cywg dGhleSBhcm UgYWx3YXlz IHRyeWluZy B0byBmaW5k IG5ldyB3YX lzIHRvIGlt cHJvdmUgYW 5kIGFkYXB0 IHRvIGNoYW 5nZXMsIHdo aWNoIGhlbH BzIHRoZW0g a2VlcCB1cC B3aXRoIHdo YXQgcGVvcG xlIHdhbnQu IFNvLCBhcy Bsb25nIGFz IHRoZXkgZG 8gYSBnb29k IGpvYiBhbm QgY29udGlu dWUgdG8gZ2 V0IG5ldyBj bGllbnRzLC B0aGV5IHNo b3VsZCBjb2 50aW51ZSB0 byBiZSBzdW NjZXNzZnVs ITxicj4=

U2Nocm9kZX JzIGlzIGEg bGFyZ2UgbX VsdGluYXRp b25hbCBhc3 NldCBtYW5h Z2VtZW50IG NvbXBhbnkg Zm91bmRlZC BpbiAxODA0 IGFuZCBoZW FkcXVhcnRl cmVkIGluIE xvbmRvbiwg VUsuIEl0IH N0YW5kcyBv dXQgZnJvbS BvdGhlciBj b21wYW5pZX MgaW4gdGhl IGZvbGxvd2 luZyB3YXlz Ojxicj4xLi BMb25nIGhp c3RvcnkgYW 5kIGV4cGVy aWVuY2U6IF NjaHJvZGVy cyBoYXMgYm VlbiBpbiBi dXNpbmVzcy Bmb3Igb3Zl ciAyMDAgeW VhcnMsIG1h a2luZyBpdC BvbmUgb2Yg dGhlIG9sZG VzdCBpbnZl c3RtZW50IG Zpcm1zIGlu IHRoZSB3b3 JsZC4gVGhp cyBsb25nIG hpc3Rvcnkg aGFzIGFsbG 93ZWQgdGhl IGNvbXBhbn kgdG8gd2Vh dGhlciB2YX Jpb3VzIGVj b25vbWljIG N5Y2xlcyBh bmQgZ2Fpbi B2YWx1YWJs ZSBleHBlcm llbmNlIGlu IG1hbmFnaW 5nIGludmVz dG1lbnRzLj xicj4yLiBH bG9iYWwgcH Jlc2VuY2U6 IFNjaHJvZG VycyBvcGVy YXRlcyBpbi BvdmVyIDM1 IGNvdW50cm llcyBhY3Jv c3MgRXVyb3 BlLCBBc2lh LCB0aGUgQW 1lcmljYXMs IGFuZCB0aG UgTWlkZGxl IEVhc3QuIE l0IGhhcyBh IHN0cm9uZy BwcmVzZW5j ZSBpbiBib3 RoIGVtZXJn aW5nIGFuZC BkZXZlbG9w ZWQgbWFya2 V0cywgYWxs b3dpbmcgaX QgdG8gb2Zm ZXIgYSBkaX ZlcnNlIHJh bmdlIG9mIG ludmVzdG1l bnQgb3Bwb3 J0dW5pdGll cyBmb3IgaX RzIGNsaWVu dHMuPGJyPj MuIERpdmVy c2lmaWVkIH BvcnRmb2xp bzogVGhlIG NvbXBhbnkg b2ZmZXJzIG Egd2lkZSBy YW5nZSBvZi BpbnZlc3Rt ZW50IHNvbH V0aW9ucywg aW5jbHVkaW 5nIGVxdWl0 aWVzLCBmaX hlZCBpbmNv bWUsIG11bH RpLWFzc2V0 LCBhbmQgYW x0ZXJuYXRp dmVzLiBUaG lzIGFsbG93 cyBjbGllbn RzIHRvIGJ1 aWxkIGEgZG l2ZXJzaWZp ZWQgcG9ydG ZvbGlvIHRo YXQgY2FuIG hlbHAgbWl0 aWdhdGUgcm lzayBhbmQg cG90ZW50aW FsbHkgZW5o YW5jZSByZX R1cm5zLjxi cj40LiBGb2 N1cyBvbiBz dXN0YWluYW JpbGl0eTog U2Nocm9kZX JzIGlzIGNv bW1pdHRlZC B0byByZXNw b25zaWJsZS BpbnZlc3Rp bmcgYW5kIG ludGVncmF0 aW5nIGVudm lyb25tZW50 YWwsIHNvY2 lhbCwgYW5k IGdvdmVybm FuY2UgKEVT RykgZmFjdG 9ycyBpbnRv IGl0cyBpbn Zlc3RtZW50 IGRlY2lzaW 9ucy4gVGhl IGNvbXBhbn kgaGFzIGEg ZGVkaWNhdG VkIHN1c3Rh aW5hYmxlIG ludmVzdG1l bnQgdGVhbS BhbmQgb2Zm ZXJzIGEgcm FuZ2Ugb2Yg c3VzdGFpbm FibGUgaW52 ZXN0bWVudC Bzb2x1dGlv bnMuPGJyPj UuIFN0cm9u ZyByZXNlYX JjaCBjYXBh YmlsaXRpZX M6IFNjaHJv ZGVycyBoYX MgYSB0ZWFt IG9mIG92ZX IgMjAwIHJl c2VhcmNoIG FuYWx5c3Rz LCBjb3Zlcm luZyBhIHdp ZGUgcmFuZ2 Ugb2YgYXNz ZXQgY2xhc3 NlcyBhbmQg Z2VvZ3JhcG hpZXMuIFRo aXMgZW5hYm xlcyB0aGUg Y29tcGFueS B0byBtYWtl IGluZm9ybW VkIGludmVz dG1lbnQgZG VjaXNpb25z IGFuZCBpZG VudGlmeSBh dHRyYWN0aX ZlIG9wcG9y dHVuaXRpZX MgZm9yIGl0 cyBjbGllbn RzLjxicj42 LiBDbGllbn QtY2VudHJp YyBhcHByb2 FjaDogVGhl IGNvbXBhbn kgcHV0cyBp dHMgY2xpZW 50cyBhdCB0 aGUgY2VudG VyIG9mIGV2 ZXJ5dGhpbm cgaXQgZG9l cyBhbmQgc3 RyaXZlcyB0 byBidWlsZC Bsb25nLXRl cm0gcmVsYX Rpb25zaGlw cyBiYXNlZC BvbiB0cnVz dCBhbmQgdH JhbnNwYXJl bmN5LiBTY2 hyb2RlcnMg YWxzbyBvZm ZlcnMgcGVy c29uYWxpem VkIGludmVz dG1lbnQgc2 9sdXRpb25z IHRvIG1lZX QgdGhlIHNw ZWNpZmljIG 5lZWRzIG9m IGl0cyBjbG llbnRzLjxi cj43LiBBd2 FyZC13aW5u aW5nIHBlcm Zvcm1hbmNl OiBTY2hyb2 RlcnMgaGFz IGEgdHJhY2 sgcmVjb3Jk IG9mIGRlbG l2ZXJpbmcg c3Ryb25nIG ludmVzdG1l bnQgcGVyZm 9ybWFuY2Ug YWNyb3NzIG RpZmZlcmVu dCBhc3NldC BjbGFzc2Vz LiBUaGUgY2 9tcGFueSBo YXMgd29uIG 51bWVyb3Vz IGluZHVzdH J5IGF3YXJk cyBhbmQgYW Njb2xhZGVz IGZvciBpdH MgaW52ZXN0 bWVudCBleH BlcnRpc2Ug YW5kIGNsaW VudCBzZXJ2 aWNlLg==

U2Nocm9kZX JzIGlzIGEg Z2xvYmFsIG ludmVzdG1l bnQgbWFuYW dlbWVudCBm aXJtIHRoYX Qgc3BlY2lh bGl6ZXMgaW 4gcHJvdmlk aW5nIGludm VzdG1lbnQg c29sdXRpb2 5zIGFuZCBm aW5hbmNpYW wgc2Vydmlj ZXMgdG8gaW 5kaXZpZHVh bHMsIGluc3 RpdHV0aW9u cywgYW5kIG ludGVybWVk aWFyaWVzLi BUaGVpciBi dXNpbmVzcy Btb2RlbCBp cyBiYXNlZC BvbiBvZmZl cmluZyBhIH JhbmdlIG9m IGludmVzdG 1lbnQgcHJv ZHVjdHMgYW 5kIHNlcnZp Y2VzIHRvIG NhdGVyIHRv IHRoZSBkaX ZlcnNlIG5l ZWRzIG9mIH RoZWlyIGNs aWVudHMsIG luY2x1ZGlu Zzo8YnI+MS 4gQXNzZXQg TWFuYWdlbW VudDogU2No cm9kZXJzIG 9mZmVycyBh IHdpZGUgcm FuZ2Ugb2Yg YXNzZXQgbW FuYWdlbWVu dCBzZXJ2aW NlcywgaW5j bHVkaW5nIG VxdWl0eSwg Zml4ZWQgaW 5jb21lLCBt dWx0aS1hc3 NldCwgYW5k IGFsdGVybm F0aXZlIGlu dmVzdG1lbn RzLiBUaGV5 IGhhdmUgYS B0ZWFtIG9m IGludmVzdG 1lbnQgcHJv ZmVzc2lvbm FscyB3aG8g dXNlIGluLW RlcHRoIHJl c2VhcmNoIG FuZCBhbmFs eXNpcyB0by BjcmVhdGUg dGFpbG9yZW QgaW52ZXN0 bWVudCBzb2 x1dGlvbnMg Zm9yIHRoZW lyIGNsaWVu dHMuPGJyPj IuIFByaXZh dGUgQmFua2 luZzogU2No cm9kZXJzIG Fsc28gcHJv dmlkZXMgcH JpdmF0ZSBi YW5raW5nIH NlcnZpY2Vz IHRvIGhpZ2 ggbmV0IHdv cnRoIGluZG l2aWR1YWxz LCBvZmZlcm luZyBwZXJz b25hbGl6ZW QgaW52ZXN0 bWVudCBtYW 5hZ2VtZW50 IGFuZCB3ZW FsdGggcGxh bm5pbmcgc2 9sdXRpb25z Ljxicj4zLi BXZWFsdGgg TWFuYWdlbW VudDogVGhy b3VnaCB0aG VpciB3ZWFs dGggbWFuYW dlbWVudCBk aXZpc2lvbi wgU2Nocm9k ZXJzIG9mZm VycyB0YWls b3JlZCBpbn Zlc3RtZW50 IHNvbHV0aW 9ucyBhbmQg ZmluYW5jaW FsIHBsYW5u aW5nIGFkdm ljZSB0byBp bmRpdmlkdW FscyBhbmQg ZmFtaWxpZX MsIGhlbHBp bmcgdGhlbS B0byBhY2hp ZXZlIHRoZW lyIGxvbmct dGVybSBmaW 5hbmNpYWwg Z29hbHMuPG JyPjQuIElu c3RpdHV0aW 9uYWwgU2Vy dmljZXM6IF NjaHJvZGVy cyBhbHNvIH dvcmtzIHdp dGggaW5zdG l0dXRpb25h bCBjbGllbn RzLCBzdWNo IGFzIHBlbn Npb24gZnVu ZHMsIGluc3 VyYW5jZSBj b21wYW5pZX MsIGFuZCBz b3ZlcmVpZ2 4gd2VhbHRo IGZ1bmRzLC B0byBwcm92 aWRlIHRoZW 0gd2l0aCBp bnZlc3RtZW 50IHNvbHV0 aW9ucyBhbm Qgc2Vydmlj ZXMgdGhhdC BtZWV0IHRo ZWlyIHNwZW NpZmljIG5l ZWRzIGFuZC BvYmplY3Rp dmVzLjxicj 41LiBEaXN0 cmlidXRpb2 4gUGFydG5l cnNoaXBzOi BTY2hyb2Rl cnMgaGFzIG VzdGFibGlz aGVkIHBhcn RuZXJzaGlw cyB3aXRoIG ZpbmFuY2lh bCBpbnRlcm 1lZGlhcmll cywgc3VjaC BhcyBiYW5r cywgZmluYW 5jaWFsIGFk dmlzb3JzLC BhbmQgaW5z dXJhbmNlIG NvbXBhbmll cywgdG8gb2 ZmZXIgdGhl aXIgaW52ZX N0bWVudCBw cm9kdWN0cy B0byBhIGJy b2FkZXIgYm FzZSBvZiBj bGllbnRzLj xicj5PdmVy YWxsLCBTY2 hyb2RlcnPi gJkgYnVzaW 5lc3MgbW9k ZWwgaXMgZm 9jdXNlZCBv biBwcm92aW RpbmcgaW5u b3ZhdGl2ZS BhbmQgY2xp ZW50LWNlbn RyaWMgaW52 ZXN0bWVudC Bzb2x1dGlv bnMsIGxldm VyYWdpbmcg dGhlaXIgZX hwZXJ0aXNl LCByZXNlYX JjaCBjYXBh YmlsaXRpZX MsIGFuZCBn bG9iYWwgbm V0d29yayB0 byBkZWxpdm VyIHZhbHVl IHRvIHRoZW lyIGNsaWVu dHMu

The potential impact of AI on a company like Schroders, which operates in asset management, can be analyzed through several lenses: substitution, disintermediation, and margin pressure.
1. Substitution: AI has the capability to enhance investment strategies and portfolio management through advanced analytics, machine learning algorithms, and algorithmic trading. This means that traditional asset management approaches may face substitution threats from AI-driven platforms that can offer more efficient and potentially more profitable investment options. Robo-advisors, for instance, leverage AI to provide personalized investment advice at a lower cost, which may appeal to a segment of the market traditionally served by firms like Schroders.
2. Disintermediation: The rise of AI-powered investment platforms can lead to disintermediation, where clients bypass traditional asset managers and directly engage with technology-based solutions. This could result in a reduction of assets under management for traditional firms, including Schroders, as investors may opt for lower-cost, automated services that utilize AI for portfolio management and financial advice.
3. Margin Pressure: As AI technologies become more capable and widely adopted, the competition may intensify, leading to margin pressure for traditional firms. Lower-cost AI-driven services could push down fees across the industry, impacting the profitability of legacy asset management firms. Additionally, the need to invest in AI technology and talent could further strain margins, requiring firms like Schroders to balance innovation with cost management.
In summary, while AI presents opportunities for enhancement and efficiency, it does pose a material threat to Schroders’ products, services, and competitive positioning. The firm may need to adapt by integrating AI technologies into its offerings, developing unique value propositions, and engaging in innovative practices to mitigate these risks.

The sensitivity of Schroders’ earnings, cash flow, and valuation to changes in interest rates can be analyzed through several key factors.
Earnings Sensitivity: Schroders, as an investment management firm, can experience significant earnings sensitivity to changes in interest rates. Higher interest rates may lead to reduced borrowing costs for companies, potentially increasing their profitability and thus boosting Schroders’ assets under management (AUM). Conversely, if rates rise sharply, it may lead to a slowdown in economic activity, impacting the performance of investments and, ultimately, Schroders’ revenue from management fees.
Cash Flow Sensitivity: Cash flow generation for Schroders may also be influenced by interest rates. The firm’s cash flows from management fees are directly tied to the performance of the investment portfolios they manage. If rising interest rates decrease stock and bond prices, it could negatively impact the AUM and therefore reduce cash flows. Additionally, interest rate movements can affect investor behavior; for instance, higher rates might lead to shifts from equities to fixed-income products, impacting overall cash flow.
Valuation Sensitivity: Valuation of financial firms like Schroders is often based on discounted cash flow models, where future cash flows are discounted back to present value using a discount rate that typically reflects prevailing interest rates. As interest rates increase, the discount rate used in these models also rises, which may lead to a decrease in the present value of expected cash flows and, consequently, a lower valuation. Additionally, higher interest rates can indicate a tightening monetary policy, which may pose risks to equities, further impacting overall market valuations.
In summary, Schroders’ earnings, cash flow, and valuation are indeed sensitive to changes in interest rates, with potential impacts dependent on the broader economic context and investor sentiment.

T25lIHJlYW xpc3RpYyBz Y2VuYXJpby B0aGF0IGNv dWxkIHBlcm 1hbmVudGx5 IGltcGFpci BTY2hyb2Rl cnPigJkgZW Nvbm9taWNz IG92ZXIgdG hlIG5leHQg M+KAkzUgeW VhcnMgaXMg YSBzaWduaW ZpY2FudCBh bmQgcHJvbG 9uZ2VkIGRv d250dXJuIG luIGdsb2Jh bCBmaW5hbm NpYWwgbWFy a2V0cywgZX hhY2VyYmF0 ZWQgYnkgYW 4gaW5jcmVh c2UgaW4gcm VndWxhdG9y eSBidXJkZW 5zIGFuZCBh IHNoaWZ0IG luIGludmVz dG9yIGJlaG F2aW9yIGF3 YXkgZnJvbS B0cmFkaXRp b25hbCBhc3 NldCBtYW5h Z2VtZW50IH Rvd2FyZHMg ZGlnaXRhbC Bhc3NldCBt YW5hZ2VtZW 50IG9yIHBh c3NpdmUgaW 52ZXN0bWVu dCBzdHJhdG VnaWVzLjxi cj5JbiB0aG lzIHNjZW5h cmlvLCBhIH N1YnN0YW50 aWFsIG1hcm tldCBkb3du dHVybiBjb3 VsZCBsZWFk IHRvIGEgbm 90aWNlYWJs ZSBkZWNsaW 5lIGluIGFz c2V0cyB1bm RlciBtYW5h Z2VtZW50IC hBVU0pLCBh cyBjbGllbn RzIHdpdGhk cmF3IGZ1bm RzIG9yIGV4 cGVyaWVuY2 UgbG9zc2Vz IHRoYXQgcm VkdWNlIG92 ZXJhbGwgaW 52ZXN0bWVu dCBjYXBpdG FsLiBBcyBB VU0gZGVjcm Vhc2VzLCB0 aGUgY29tcG FueSB3b3Vs ZCBzZWUgYS Bjb3JyZXNw b25kaW5nIG RlY2xpbmUg aW4gbWFuYW dlbWVudCBm ZWVzLCB3aG ljaCBhcmUg dHlwaWNhbG x5IGEgc2ln bmlmaWNhbn QgcG9ydGlv biBvZiBpdH MgcmV2ZW51 ZS4gVGhpcy B3b3VsZCBk aXJlY3RseS BpbXBhY3Qg bWFyZ2lucy wgbGlrZWx5 IGxlYWRpbm cgdGhlbSB0 byBjb250cm FjdCBhcyBm aXhlZCBjb3 N0cyByZW1h aW4gcmVsYX RpdmVseSBz dGFibGUuPG JyPlNpbXVs dGFuZW91c2 x5LCB0aGUg Y29tcGFueS BtaWdodCBm YWNlIGluY3 JlYXNlZCBy ZWd1bGF0b3 J5IHByZXNz dXJlcyB0aG F0IHJlcXVp cmUgYWRkaX Rpb25hbCBj b21wbGlhbm NlIGV4cGVu ZGl0dXJlcy wgZnVydGhl ciBzdHJhaW 5pbmcgb3Bl cmF0aW5nIG 1hcmdpbnMu IElmIGludm VzdG1lbnQg cGVyZm9ybW FuY2Ugd29y c2VucywgY2 xpZW50IHRy dXN0IGNvdW xkIGRpbWlu aXNoLCBsZW FkaW5nIHRv IGluY3JlYX NlZCByZWRl bXB0aW9ucy BhbmQgbWFr aW5nIGl0IG hhcmRlciBm b3IgU2Nocm 9kZXJzIHRv IGF0dHJhY3 QgbmV3IGNs aWVudHMuIF RoaXMgYWR2 ZXJzZSBjeW NsZSBjb3Vs ZCBsZWFkIH RvIGEgcHJv bG9uZ2VkIH BlcmlvZCBv ZiBsb3dlci Bwcm9maXRh YmlsaXR5Lj xicj5DYXNo IGZsb3cgd2 91bGQgbGlr ZWx5IGRldG VyaW9yYXRl IHVuZGVyIH RoZXNlIGNv bmRpdGlvbn MsIGFzIHJl ZHVjZWQgbW FuYWdlbWVu dCBmZWVzIG xlYWQgdG8g bGVzcyBvcG VyYXRpbmcg cmV2ZW51ZS 4gSWYgdGhl IGNvbXBhbn kgaXMgbm90 IGFibGUgdG 8gYWRqdXN0 IGl0cyBjb3 N0IHN0cnVj dHVyZSBhY2 NvcmRpbmds eSwgaXQgbW F5IGZpbmQg aXRzZWxmIG luIGEgY2Fz aCBmbG93IG 5lZ2F0aXZl IHBvc2l0aW 9uLiBUaGlz IGNvdWxkIG ZvcmNlIG1h bmFnZW1lbn QgdG8gbWFr ZSBkaWZmaW N1bHQgZGVj aXNpb25zLC BzdWNoIGFz IGN1dHRpbm cgZGlzY3Jl dGlvbmFyeS BzcGVuZGlu ZywgbGF5aW 5nIG9mZiBl bXBsb3llZX MsIG9yIGRp dmVzdGluZy Bmcm9tIGxl c3MgcHJvZm l0YWJsZSBz ZWdtZW50cy 48YnI+T24g dGhlIGJhbG FuY2Ugc2hl ZXQsIHRoZS BkZWNsaW5l IGluIEFVTS B3b3VsZCBh bHNvIGltcG FjdCB0aGUg Y29tcGFuee KAmXMgZmlu YW5jaWFsIG hlYWx0aC4g VGhlIHJlZH VjdGlvbiBp biBjYXNoIG luZmxvd3Mg Y291bGQgcm VzdWx0IGlu IGxvd2VyIG Nhc2ggcmVz ZXJ2ZXMsIG FuZCBpZiB0 aGUgY29tcG FueSByZXNv cnRzIHRvIH Rha2luZyBv biBkZWJ0IH RvIG1haW50 YWluIG9wZX JhdGlvbnMs IGl0cyBsZX ZlcmFnZSBy YXRpb3MgY2 91bGQgd29y c2VuLiBJZi B0aGUgZG93 bnR1cm4gaX Mgc2V2ZXJl IGVub3VnaC wgdGhlIGNv bXBhbnkgbW F5IG5lZWQg dG8gY29uc2 lkZXIgYXNz ZXQgc2FsZX MgdG8gbWFp bnRhaW4gbG lxdWlkaXR5 LCB3aGljaC Bjb3VsZCBo YXJtIGl0cy Bsb25nLXRl cm0gZ3Jvd3 RoIHByb3Nw ZWN0cyBhbm Qgc3RyYXRl Z2ljIHBvc2 l0aW9uaW5n Ljxicj5Jbi BzdW1tYXJ5 LCBhIHByb2 xvbmdlZCBk b3dudHVybi BpbiBmaW5h bmNpYWwgbW Fya2V0cywg Y29tYmluZW Qgd2l0aCBp bmNyZWFzZW QgcmVndWxh dG9yeSBjaG FsbGVuZ2Vz IGFuZCBzaG lmdHMgaW4g aW52ZXN0b3 IgYmVoYXZp b3IsIGNvdW xkIGxlYWQg dG8gcGVybW FuZW50bHkg aW1wYWlyZW QgZWNvbm9t aWNzIGZvci BTY2hyb2Rl cnMuIFRoaX Mgd291bGQg bWFuaWZlc3 QgYXMgcmVk dWNlZCBtYX JnaW5zLCBu ZWdhdGl2ZS BjYXNoIGZs b3csIGFuZC BhIHdlYWtl ciBiYWxhbm NlIHNoZWV0 LCBzaWduaW ZpY2FudGx5 IGFmZmVjdG luZyB0aGUg Y29tcGFuee KAmXMgYWJp bGl0eSB0by BvcGVyYXRl IGVmZmVjdG l2ZWx5IGlu IHRoZSBsb2 5nIHRlcm0u PGJyPg==

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvTV FPUUg0TnZy a0hIZVhzOT dHQWcud2Vi cCIgYWx0PS JTY2hyb2Rl cnMiIHRpdG xlPSJTY2hy b2RlcnMiIC BjbGFzcz0i aW1nLWZsdW lkIiBoZWln aHQ9NTAgd2 lkdGg9NTAg bG9hZGluZz 0nbGF6eScg c3R5bGU9J2 JvcmRlci1y YWRpdXM6ID ZweDsnPgoK ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdmbGV4Oi AxOyB0ZXh0 LWFsaWduOi BjZW50ZXI7 IG1hcmdpbi 1sZWZ0OiA1 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PHAgc3R5bG U9J2ZvbnQt c2l6ZTogMj ZweDsgY29s b3I6ICMzMz M7IG1hcmdp bi1ib3R0b2 06IDE1cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IPCfk4ggV2 FudCB0byBy ZWFkIG1vcm UgYWJvdXQg U2Nocm9kZX JzPwogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdp bmRleC5waH A/cGFnZT1z aWdudXAnIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJh Y2tncm91bm QtY29sb3I6 ICMwMDdCRk Y7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bjb2xvcjog I2ZmZjsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHBhZG Rpbmc6IDEw cHggMjBweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JvcmRlci1y YWRpdXM6ID VweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGZvbnQtd2 VpZ2h0OiBi b2xkOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgbWFyZ2 luLXJpZ2h0 OiAxMHB4Ow ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdH JhbnNpdGlv bjogYmFja2 dyb3VuZC1j b2xvciAwLj NzIGVhc2U7 JwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg b25tb3VzZW 92ZXI9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA1 NmIzIicKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIG9ubW 91c2VvdXQ9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA3QkZGIi c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IGZvciBmcm VlCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxzcG FuIHN0eWxl PSdtYXJnaW 46IDAgOHB4 OyBjb2xvcj ogIzU1NTsn Pm9yPC9zcG FuPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aW5kZXgucG hwP3BhZ2U9 bG9naW4nIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGNv bG9yOiAjMD A3QkZGOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdGV4 dC1kZWNvcm F0aW9uOiB1 bmRlcmxpbm U7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bmb250LXdl aWdodDogNT AwOyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBsb2cg aW4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgoKCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dtYXJnaW4t dG9wOiAxNX B4OyBmb250 LXNpemU6ID EzcHg7IGZv bnQtd2VpZ2 h0OiBib2xk OyBjb2xvcj ogI2QzMmYy ZjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg4pyN77 iPIFNpZ24g dXAgdG8gZ2 V0IDxpPiJU aGUgQ2hlY2 tsaXN0IFZh bHVlIEludm VzdG9yIOKA lCBBIFNtYX J0ZXIgV2F5 IHRvIFBpY2 sgU3RvY2tz IjwvaT4gZm 9yIGZyZWUK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9wPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPCEtLQog ICAgICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdtYX JnaW4tdG9w OiAxMnB4Oy Bmb250LXNp emU6IDEzcH g7IGNvbG9y OiAjNDQ0Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IG5vdyBhbm QgZ2V0IG91 ciBmcmVlIG VCb29rIAog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPGI+ VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr czwvYj4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IC0tPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 IS0tCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J21hcmdp bi10b3A6ID E2cHg7IGZv bnQtc2l6ZT ogMTRweDsg Y29sb3I6IC M0NDQ7IGZv bnQtZmFtaW x5OiAtYXBw bGUtc3lzdG VtLCBCbGlu a01hY1N5c3 RlbUZvbnQs IFNlZ29lIF VJLCBSb2Jv dG8sIEhlbH ZldGljYSBO ZXVlLCBzYW 5zLXNlcmlm OyBsaW5lLW hlaWdodDog MS42Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBIYX ZlIHlvdSBo ZWFyZCBhYm 91dCBvdXIg c2hvcnQgPH N0cm9uZyBz dHlsZT0nZm 9udC13ZWln aHQ6IDYwMD snPkRhaWx5 IFZpZGVvIE 5ld3NsZXR0 ZXI8L3N0cm 9uZz4/CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdodH RwczovL3d3 dy5pbnNpZ2 h0ZnVsdmFs dWUuY29tL2 5ld3NsZXR0 ZXIucGhwJy B0YXJnZXQ9 J19ibGFuay cgc3R5bGU9 J2NvbG9yOi AjMDA3QkZG OyB0ZXh0LW RlY29yYXRp b246IG5vbm U7IGZvbnQt d2VpZ2h0Oi A1MDA7IG1h cmdpbi1sZW Z0OiA2cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBGaW 5kIG91dCBt b3JlCiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8L2E+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgICAgICAg ICAtLT4KIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgCiAg ICAgICAgCi AgICAgICAg PHNwYW4gY2 xhc3M9J2Js dXJyZWQtdG V4dCc+CiAg ICAgICAgIC AgIE1TNGdW R2hsSUcgTn ZiWEJoYm5r ZyBkMkZ6SU dadmRXIDVr WldRZ2FXNG cgTVRnd05D QmllUyBCS2 IyaGhibTRn IFNHVnBibk pwWTIgZ2dV Mk5vY205ay BaWElnYVc0 Z1NHIEZ0WW 5WeVp5d2cg UjJWeWJXRn VlUyA0OFlu SStNaTRnIF NXNGdNVGd4 T0Mgd2dVMk 5vY205ayBa WEp6SUhKbG JHIDlqWVhS bFpDQjAgYn lCTWIyNWti MiA0c0lFVn VaMnhoIGJt UWdZVzVrSU cgVnpkR0Zp YkdseiBhR1 ZrSUdsMGMy IFZzWmlCaG N5QmggSUda cGJtRnVZMi BsaGJDQmlk WE5wIGJtVn pjeTQ4WW4g SStNeTRnVT JObyBjbTlr WlhKeklHIG hoY3lCaVpX VnUgSUdFZ1 ptRnRhVyB4 NUxYSjFiaU JpIGRYTnBi bVZ6Y3kgQm 1iM0lnWm1s MiBaU0JuWl c1bGNtIEYw YVc5dWN5d2 cgZDJsMGFD QjBhRyBVZ1 ptRnRhV3g1 IElITjBhV3 hzSUcgaHZi R1JwYm1jZy BZU0J6YVdk dWFXIFpwWT JGdWRDQnog YUdGeVpTQn ZaaSBCMGFH VWdZMjl0IG NHRnVlU0Iw YjIgUmhlUz Q4WW5JKyBO QzRnVTJOb2 NtIDlrWlhK eklHWnAgY2 5OMElHSmxZ MiBGdFpTQm hJSEIxIFlt eHBZeUJqYj IgMXdZVzU1 SUdsdSBJRE U1TlRrc0lH IHhwYzNScG JtY2cgYjI0 Z2RHaGxJRS B4dmJtUnZi aUJUIGRHOW pheUJGZUcg Tm9ZVzVuWl M0OCBZbkkr TlM0Z1ZHIG hsSUdOdmJY QmggYm5rZ2 FYTWdkMiBW c2JDMXJibT kzIGJpQm1i M0lnYVggUn pJR1Y0Y0dW eSBkR2x6Wl NCcGJpIEJ0 WVc1aFoybH UgWnlCcGJu WmxjMyBSdF pXNTBjeUJo IGJtUWdkMl ZoYkggUm9J RzFoYm1Gbi BaVzFsYm5R c0lHIEoxZE NCcGRDQmgg YkhOdklHaG hjeSBCaElI TnBaMjVwIF ptbGpZVzUw SUggQnlaWE 5sYm1ObCBJ R2x1SUdsdW RtIFZ6ZEcx bGJuUWcgWW 1GdWEybHVa eSBCaGJtUW djSEpwIGRt RjBaU0JsY1 ggVnBkSGt1 UEdKeSBQal l1SUVsdUlE IEU1T0RVc0 lGTmogYUhK dlpHVnljeS BCaFkzRjFh WEpsIFpDQm hJRzFoYW0g OXlhWFI1SU hOMCBZV3Rs SUdsdUlFIE 5oY214emIy NHMgSUdFZ2 JHVmhaRyBs dVp5QjBjbU YyIFpXd2dZ VzVrSUcgaH ZjM0JwZEdG cyBhWFI1SU dOdmJYIEJo Ym5rdUlFaH YgZDJWMlpY SXNJSCBSb2 FYTWdkbVZ1 IGRIVnlaU0 IzWVggTWdk V3gwYVcxaC BkR1ZzZVNC MWJuIE4xWT JObGMzTm0g ZFd3Z1lXNW tJRiBOamFI SnZaR1Z5IG N5QnpiMnhr SUcgbDBjeU J6ZEdGciBa U0JwYmlCRF lYIEpzYzI5 dUlHbHUgSU RJd01EUXVQ RyBKeVBqY3 VJRlJvIFpT QmpiMjF3WV cgNTVJR2ho Y3lCaCBJR3 h2Ym1jZ2FH IGx6ZEc5eW VTQnYgWmlC d2FHbHNZVy A1MGFISnZj SGtzIElIZH BkR2dnWVMg Qm1iMk4xY3 lCdiBiaUJs WkhWallYIF JwYjI0Z1lX NWsgSUdGeW RDNGdTWCBR Z2FHRnpJR1 Z6IGRHRmli R2x6YUcgVm tJR0VnWTJo aCBjbWwwWV dKc1pTIEJt YjNWdVpHRj AgYVc5dUlI UnZJSCBOMW NIQnZjblFn IGRHaGxjMl VnWTIgRjFj MlZ6TGp4aS BjajQ0TGlC VFkyIGh5Yj JSbGNuTWcg YVhNZ2IyNW xJRyA5bUlI Um9aU0JzIF lYSm5aWE4w SUcgRnpjMl YwSUcxaCBi bUZuWlcxbG JuIFFnWTI5 dGNHRnUgYV dWeklHbHVJ SCBSb1pTQj NiM0pzIFpD d2dkMmwwYU MgQnZkbVZ5 SU1LaiBOVE F3SUdKcGJH IHhwYjI0Z2 FXNGcgWVhO elpYUnpJSC BWdVpHVnlJ RzFoIGJtRm 5aVzFsYm4g UWdLR0Z6SU c5bSBJREl3 TWpFcExqIH hpY2o0NUxp QlUgYUdVZ1 kyOXRjRyBG dWVTQm9ZWE 1nIFlTQnph V2R1YVcgWn BZMkZ1ZENC biBiRzlpWV d3Z2NIIEps YzJWdVkyVX MgSUhkcGRH Z2diMyBCbG NtRjBhVzl1 IGN5QnBiaU J2ZG0gVnlJ RE13SUdOdi BkVzUwY21s bGN5IEJoYm 1RZ1kyeHAg Wlc1MGN5Qm 1jbSA5dElH RnNiQ0JoIG NtOTFibVFn ZEcgaGxJSG R2Y214ayBM anhpY2o0eE 1DIDRnU1c0 Z2NtVmogWl c1MElIbGxZ WCBKekxDQl RZMmh5IGIy Umxjbk1nYU cgRnpJR0ps Wlc0ZyBjbV ZqYjJkdWFY IHBsWkNCbW IzSWcgYVhS eklHVm1abS A5eWRITWdk RzkzIFlYSm tjeUJ6ZFgg TjBZV2x1WV dKcCBiR2ww ZVNCaGJtIF FnY21WemNH OXUgYzJsaW JHVWdhVyA1 MlpYTjBhVz VuIExDQmxZ WEp1YVcgNW 5JR0ZqWTI5 cyBZV1JsY3 lCemRXIE5v SUdGeklIUm 8gWlNBeU1E SXhJRiBCU1 NTQkJkMkZ5 IFpDQm1iM0 lnWTIgeHBi V0YwWlNCeS BhWE5ySUcx aGJtIEZuWl cxbGJuUWcg WVc1a0lHSm xhVyA1bklH NWhiV1ZrIE lHOXVaU0J2 WmkgQjBhR1 VnZDI5eSBi R1RpZ0psek lHIDF2YzNR Z2MzVnogZE dGcGJtRmli RyBVZ1kyOX ljRzl5IFlY UnBiMjV6SU cgSjVJRU52 Y25CdiBjbU YwWlNCTGJt IGxuYUhSek xqeGkgY2o0 eE1TNGdVMi BOb2NtOWta WEp6IElHaG hjeUJoSUgg SnBZMmdnYU dseiBkRzl5 ZVNCdlppIE JwYm01dmRt RjAgYVc5dU lHRnVaQyBC aFpHRndkR0 YwIGFXOXVM aUJKZEMgQj NZWE1nYjI1 bCBJRzltSU hSb1pTIEJt YVhKemRDQm ogYjIxd1lX NXBaWCBNZ2 RHOGdiMlpt IFpYSWdZU0 J6Y0cgVmph V0ZzYVhwbC BaQ0JwYm5a bGMzIFJ0Wl c1MElIUnkg ZFhOMExDQm hibSBRZ2FY UWdZV3h6IG J5QnNZWFZ1 WTIgaGxaQ0 J2Ym1VZyBi MllnZEdobE lHIFpwY25O MElIQmggYz NOcGRtVWdh VyA1a1pYZ2 dablZ1IFpI TWdhVzRnUl ggVnliM0Js TGp4aSBjaj R4TWk0Z1NX IDRnTWpBeU 1Dd2cgVTJO b2NtOWtaWC BKeklHRnVi bTkxIGJtTm xaQ0JwZEgg TWdZMjl0Yl dsMCBiV1Z1 ZENCMGJ5IE JoWTJocFpY WmwgSUc1bG RDMTZaWCBK dklHVnRhWE 56IGFXOXVj eUJoWTMgSn ZjM01nYVhS eiBJR2x1ZG 1WemRHIDFs Ym5RZ2NHOX kgZEdadmJH bHZJRyBKNU lESXdOVEFz IElHbHVJR3 hwYm0gVWdk MmwwYUNCMC BhR1VnVUdG eWFYIE1nUV dkeVpXVnQg Wlc1MElHOX VJRyBOc2FX MWhkR1VnIF kyaGhibWRs TGogeGljaj R4TXk0ZyBR WE1nYjJZZ0 1qIEF5TVN3 Z2RHaGwgSU dOdmJYQmhi biBrZ2FYTW diR1ZrIElH SjVJRU5GVH kgQlFaWFJs Y2lCSSBZWE p5YVhOdmJp IEJoYm1RZ2 FHRnogSUc5 MlpYSWdOUy B3d01EQWda VzF3IGJHOT VaV1Z6SUgg ZHZjbXhrZD JsayBaUzQ4 WW5JK01UIF F1SUVSbGMz QnAgZEdVZ2 FYUnpJRyB4 dmJtY2dhR2 x6IGRHOXll U3dnVTIgTm 9jbTlrWlhK eiBJR052Ym 5ScGJuIFZs Y3lCMGJ5Qm wgYldKeVlX TmxJRyA1bG R5QjBaV05v IGJtOXNiMm Q1SUcgRnVa Q0JrYVdkcC BkR0ZzYVhw aGRHIGx2Ym l3Z2FXNTIg WlhOMGFXNW 5JRyBsdUlF RnlkR2xtIG FXTnBZV3dn U1cgNTBaV3 hzYVdkbCBi bU5sSUdGdV pDIEJrWVhS aElHRnUgWV d4NWRHbGpj eSBCMGJ5Qm xibWhoIGJt TmxJR2wwY3 kgQnBiblps YzNSdCBaVz UwSUdSbFky IGx6YVc5dU xXMWggYTJs dVp5QndjbS A5alpYTnpM anhpIGNqNH hOUzRnVkcg aGxJR052Yl hCaCBibmtn WVd4emJ5IE JvWVhNZ1lT QnogZEhKdm JtY2dabSA5 amRYTWdiMj RnIFpHbDJa WEp6YVggUj VJR0Z1WkNC cCBibU5zZF hOcGIyIDRz SUhkcGRHZ2 cgYVc1cGRH bGhkRyBsMl pYTWdhVzRn IGNHeGhZMl VnZEcgOGdj SEp2Ylc5MC BaU0JoSUdS cGRtIFZ5Yz JVZ2QyOXkg YTJadmNtTm xJRyBGdVpD QnNaV0ZrIF pYSnphR2x3 SUggUmxZVz B1CiAgICAg ICAgPC9zcG FuPgogICAg ICAgIAogIC AgICAgIA==