National Grid

Live  

National Grid is a multinational energy company that owns and operates electricity and natural gas transmission and distribution networks in the United Kingdom and the northeastern United States. The company was originally formed in 1990 when the UK's regional electricity companies were privatized and is now one of the largest investor-owned energy companies in the world.
Headquartered in London, National Grid delivers electricity to over 20 million customers and natural gas to over 3.5 million customers through its networks in the UK. In the US, the company serves over 7 million customers in Massachusetts, New York, and Rhode Island.
The company plays a critical role in ensuring the safe, reliable, and efficient delivery of energy to homes and businesses. It also has a strong focus on sustainability and is committed to reducing its carbon footprint and promoting the use of renewable energy sources.
In addition to its core business of energy transmission and distribution, National Grid also offers a range of energy consulting and management services to commercial and industrial clients.
The company is listed on the London and New York stock exchanges and is a member of the UK's FTSE 100 index. It has a team of over 23,000 employees across its operations in the UK and US.

QWxyaWdodC EgVGhpbmsg b2YgdGhlIE 5hdGlvbmFs IEdyaWQgY2 9tcGFueSBs aWtlIGEgYm lnIGRlbGl2 ZXJ5IHNlcn ZpY2UsIGJ1 dCBpbnN0ZW FkIG9mIGRl bGl2ZXJpbm cgcGl6emEg b3IgcGFja2 FnZXMsIGl0 IGRlbGl2ZX JzIGVsZWN0 cmljaXR5IG FuZCBnYXMg dG8gaG9tZX MgYW5kIGJ1 c2luZXNzZX MuPGJyPklt YWdpbmUgeW 91IGZsaXAg dGhlIHN3aX RjaCBvbiB5 b3VyIGJlZH Jvb20gbGln aHQuIFRoYX QgbGlnaHQg dHVybnMgb2 4gYmVjYXVz ZSBlbGVjdH JpY2l0eSB0 cmF2ZWxlZC B0aHJvdWdo IHdpcmVzIG Zyb20gYSBw b3dlciBzdG F0aW9uIHRv IHlvdXIgaG 9tZS4gVGhl IE5hdGlvbm FsIEdyaWQg aXMgcmVzcG 9uc2libGUg Zm9yIG1ha2 luZyBzdXJl IHRoYXQgZW xlY3RyaWNp dHkgYW5kIG dhcyBnZXQg dG8gZXZlcn lvbmUgd2hv IG5lZWRzIG l0LiBUaGV5 IGJ1aWxkIG FuZCBtYWlu dGFpbiB0aG UgYmlnIHRv d2Vycywgd2 lyZXMsIGFu ZCBwaXBlcy B0aGF0IGNh cnJ5IHRoaX MgZW5lcmd5 IGFsbCBhcm 91bmQgdGhl IGNvdW50cn kuPGJyPk5v dywgaG93IG RvZXMgdGhl IE5hdGlvbm FsIEdyaWQg bWFrZSBtb2 5leT8gV2Vs bCwgd2hlbi B0aGV5IGRl bGl2ZXIgZW xlY3RyaWNp dHkgYW5kIG dhcywgdGhl eSBjaGFyZ2 UgdGhlIGNv bXBhbmllcy B0aGF0IHVz ZSB0aGVpci BzZXJ2aWNl cywgbGlrZS Bwb3dlciBw bGFudHMgb3 IgZ2FzIHN1 cHBsaWVycy 4gVGhlc2Ug Y29tcGFuaW VzIHRoZW4g cHJvdmlkZS B0aGUgZW5l cmd5IHRvIG 91ciBob21l cywgYW5kIH dlIHBheSBv dXIgZWxlY3 RyaWNpdHkg YmlsbCBlYW NoIG1vbnRo LiBTbywgTm F0aW9uYWwg R3JpZCBlYX JucyBtb25l eSBldmVyeS B0aW1lIHNv bWVvbmUgdX NlcyBlbGVj dHJpY2l0eS BvciBnYXMu PGJyPlRoZS Bjb21wYW55 IGlzIHN1Y2 Nlc3NmdWwg Zm9yIGEgZm V3IHJlYXNv bnMuIEZpcn N0LCBlbmVy Z3kgaXMgc2 9tZXRoaW5n IHRoYXQgZX ZlcnlvbmUg bmVlZHMgZX Zlcnkgc2lu Z2xlIGRheS wgd2hldGhl ciB0byBwb3 dlciBUVnMs IGtlZXAgZm 9vZCBjb2xk IGluIHRoZS BmcmlkZ2Us IG9yIGhlYX Qgb3VyIGhv bWVzLiBCZW NhdXNlIG9m IHRoaXMgaH VnZSBkZW1h bmQsIHRoZS BOYXRpb25h bCBHcmlkIG hhcyBhIHN0 ZWFkeSBmbG 93IG9mIGN1 c3RvbWVycy 48YnI+U2Vj b25kbHksIH RoZXkgd29y ayBoYXJkIH RvIGtlZXAg ZXZlcnl0aG luZyBydW5u aW5nIHNtb2 90aGx5IGFu ZCBzYWZlbH ksIHdoaWNo IGlzIGltcG 9ydGFudC4g UGVvcGxlIH RydXN0IHRo ZW0gdG8gZG VsaXZlciBl bmVyZ3kgd2 l0aG91dCBw cm9ibGVtcy wgYW5kIHRo YXQgaGVscH Mga2VlcCBl dmVyeW9uZS BoYXBweS48 YnI+TG9va2 luZyB0byB0 aGUgZnV0dX JlLCB0aGUg TmF0aW9uYW wgR3JpZCBp cyBsaWtlbH kgdG8gc3Rh eSBzdWNjZX NzZnVsIGJl Y2F1c2UgdG hleSBhcmUg YWxzbyBmb2 N1c2luZyBv biBuZXcgd2 F5cyB0byBj cmVhdGUgYW 5kIGRlbGl2 ZXIgZW5lcm d5LiBUaGV5 IGFyZSBleH Bsb3Jpbmcg cmVuZXdhYm xlIGVuZXJn eSBzb3VyY2 VzIGxpa2Ug d2luZCBhbm Qgc29sYXIs IHdoaWNoIG FyZSBiZXR0 ZXIgZm9yIH RoZSBlbnZp cm9ubWVudC 4gQXMgbW9y ZSBwZW9wbG UgdXNlIHRo ZXNlIGNsZW FuZXIgZW5l cmd5IG9wdG lvbnMsIE5h dGlvbmFsIE dyaWQgaXMg cmVhZHkgdG 8gYWRhcHQg YW5kIHByb3 ZpZGUgdGhl IHNlcnZpY2 VzIG5lZWRl ZC48YnI+U2 8sIHRvIHN1 bSBpdCB1cD ogdGhlIE5h dGlvbmFsIE dyaWQgY29t cGFueSBkZW xpdmVycyBl bGVjdHJpY2 l0eSBhbmQg Z2FzLCBtYW tlcyBtb25l eSBieSBjaG FyZ2luZyBm b3IgdGhvc2 UgZGVsaXZl cmllcywgaX Mgc3VjY2Vz c2Z1bCBiZW NhdXNlIGV2 ZXJ5b25lIG 5lZWRzIGVu ZXJneSwgYW 5kIHdpbGwg a2VlcCBiZW luZyBzdWNj ZXNzZnVsIG J5IGFkYXB0 aW5nIHRvIG 5ldyBlbmVy Z3kgc291cm NlcyBpbiB0 aGUgZnV0dX JlITxicj4=

MS4gSXQgaX MgdGhlIG1h aW4gZW5lcm d5IHN1cHBs aWVyIGZvci B0aGUgVUs6 IFRoZSBOYX Rpb25hbCBH cmlkIGlzIH Jlc3BvbnNp YmxlIGZvci BvcGVyYXRp bmcgYW5kIG 1haW50YWlu aW5nIHRoZS BlbGVjdHJp Y2l0eSB0cm Fuc21pc3Np b24gbmV0d2 9yayBpbiBF bmdsYW5kIG FuZCBXYWxl cywgYW5kIH RoZSBnYXMg dHJhbnNtaX NzaW9uIG5l dHdvcmsgdG hyb3VnaG91 dCB0aGUgVU suIEl0IGlz IHRoZSBsYX JnZXN0IHV0 aWxpdHkgY2 9tcGFueSBp biB0aGUgY2 91bnRyeSBh bmQgcGxheX MgYSBjcnVj aWFsIHJvbG UgaW4gcHJv dmlkaW5nIG VuZXJneSB0 byBob21lcy wgYnVzaW5l c3NlcywgYW 5kIGluZHVz dHJpZXMuPG JyPjIuIEl0 IGlzIGEgcm VndWxhdGVk IG1vbm9wb2 x5OiBOYXRp b25hbCBHcm lkIG9wZXJh dGVzIGFzIG EgcmVndWxh dGVkIG1vbm 9wb2x5LCB3 aGljaCBtZW FucyB0aGF0 IGl0IGlzIH RoZSBvbmx5 IGNvbXBhbn kgYXV0aG9y aXplZCBieS B0aGUgZ292 ZXJubWVudC B0byBwcm92 aWRlIGl0cy BzZXJ2aWNl cyBpbiBhIH BhcnRpY3Vs YXIgYXJlYS 4gVGhpcyBp cyBkb25lIH RvIHByZXZl bnQgY29tcG V0aXRpb24g YW5kIGVuc3 VyZSB0aGUg cHJvdmlzaW 9uIG9mIHNh ZmUsIHJlbG lhYmxlLCBh bmQgYWZmb3 JkYWJsZSBl bmVyZ3kgdG 8gYWxsIGNv bnN1bWVycy 48YnI+My4g SXQgb3Blcm F0ZXMgYSBj b21wbGV4IG FuZCBoaWdo LXRlY2ggbm V0d29yazog VGhlIGluZn Jhc3RydWN0 dXJlIGFuZC BvcGVyYXRp b25zIG9mIH RoZSBOYXRp b25hbCBHcm lkIGFyZSBo aWdobHkgY2 9tcGxleCBh bmQgcmVxdW lyZSBjdXR0 aW5nLWVkZ2 UgdGVjaG5v bG9neSBhbm QgZXhwZXJ0 aXNlLiBUaG UgY29tcGFu eSBpcyByZX Nwb25zaWJs ZSBmb3IgbW FpbnRhaW5p bmcgb3Zlci A3LDIwMCBt aWxlcyBvZi BoaWdoLXZv bHRhZ2Ugb3 ZlcmhlYWQg ZWxlY3RyaW NpdHkgbGlu ZXMgYW5kIG 5lYXJseSA0 LDUwMCBtaW xlcyBvZiB1 bmRlcmdyb3 VuZCBjYWJs ZXMuIEl0IG Fsc28gbWFu YWdlcyAyNz Ugc3Vic3Rh dGlvbnMgYW 5kIG9wZXJh dGVzIG51bW Vyb3VzIGdh cyBjb21wcm Vzc29yIHN0 YXRpb25zIG FuZCB1bmRl cmdyb3VuZC BnYXMgc3Rv cmFnZSBmYW NpbGl0aWVz Ljxicj40Li BJdCBpcyBj b21taXR0ZW QgdG8gc3Vz dGFpbmFiaW xpdHk6IE5h dGlvbmFsIE dyaWQgaXMg Y29tbWl0dG VkIHRvIHJl ZHVjaW5nIG l0cyBjYXJi b24gZm9vdH ByaW50IGFu ZCBwcm9tb3 RpbmcgcmVu ZXdhYmxlIG VuZXJneSBz b3VyY2VzLi BUaGUgY29t cGFueSBoYX Mgc2V0IGEg Z29hbCB0by BhY2hpZXZl IG5ldC16ZX JvIGNhcmJv biBlbWlzc2 lvbnMgYnkg MjA1MCBhbm QgaXMgY29u dGludW91c2 x5IGludmVz dGluZyBpbi BncmVlbiBh bmQgbG93LW NhcmJvbiB0 ZWNobm9sb2 dpZXMuPGJy PjUuIEl0IH BsYXlzIGEg a2V5IHJvbG UgaW4gbWFp bnRhaW5pbm cgdGhlIHN0 YWJpbGl0eS BvZiB0aGUg Z3JpZDogTm F0aW9uYWwg R3JpZCBpcy ByZXNwb25z aWJsZSBmb3 IgbWFpbnRh aW5pbmcgYS BzdGFibGUg YW5kIGJhbG FuY2VkIGVu ZXJneSBzdX BwbHkgdG8g bWVldCB0aG UgY29uc3Rh bnRseSBjaG FuZ2luZyBk ZW1hbmQuIF RoaXMgaW52 b2x2ZXMgbW FuYWdpbmcg Zmx1Y3R1YX Rpb25zIGlu IGVuZXJneS BnZW5lcmF0 aW9uIGZyb2 0gcmVuZXdh YmxlIHNvdX JjZXMgc3Vj aCBhcyB3aW 5kIGFuZCBz b2xhciwgYX Mgd2VsbCBh cyByZXNwb2 5kaW5nIHRv IHVuZXhwZW N0ZWQgZXZl bnRzIHN1Y2 ggYXMgcG93 ZXIgb3V0YW dlcy48YnI+ Ni4gSXQgc3 VwcG9ydHMg ZWNvbm9taW MgZ3Jvd3Ro IGFuZCBkZX ZlbG9wbWVu dDogVGhlIE 5hdGlvbmFs IEdyaWQncy BuZXR3b3Jr IHByb3ZpZG VzIHRoZSBp bmZyYXN0cn VjdHVyZSBu ZWVkZWQgZm 9yIGVjb25v bWljIGdyb3 d0aCBhbmQg ZGV2ZWxvcG 1lbnQsIGFs bG93aW5nIG J1c2luZXNz ZXMgYW5kIG luZHVzdHJp ZXMgdG8gb3 BlcmF0ZSBh bmQgdGhyaX ZlLiBJdCBh bHNvIHBsYX lzIGEgdml0 YWwgcm9sZS BpbiBzdXBw b3J0aW5nIH RoZSB0cmFu c2l0aW9uIH RvIGEgbG93 LWNhcmJvbi BlY29ub215 LCB3aGljaC BpcyBlc3Nl bnRpYWwgZm 9yIGxvbmct dGVybSBlY2 9ub21pYyBz dXN0YWluYW JpbGl0eS48 YnI+Ny4gSX QgaXMgcGFy dCBvZiBhIH dpZGVyIGlu dGVybmF0aW 9uYWwgbmV0 d29yazogVG hlIE5hdGlv bmFsIEdyaW QgaXMgYSBt ZW1iZXIgb2 YgdGhlIEV1 cm9wZWFuIE 5ldHdvcmsg b2YgVHJhbn NtaXNzaW9u IFN5c3RlbS BPcGVyYXRv cnMgZm9yIE VsZWN0cmlj aXR5IChFTl RTTy1FKSBh bmQgdGhlIE V1cm9wZWFu IE5ldHdvcm sgb2YgVHJh bnNtaXNzaW 9uIFN5c3Rl bSBPcGVyYX RvcnMgZm9y IEdhcyAoRU 5UU08tRyku IFRoaXMgbW VtYmVyc2hp cCBhbGxvd3 MgZm9yIGdy ZWF0ZXIgY2 9vcmRpbmF0 aW9uIGFuZC Bjb29wZXJh dGlvbiBhbW 9uZyBlbmVy Z3kgY29tcG FuaWVzIGFu ZCBwcm9tb3 RlcyB0aGUg ZWZmaWNpZW 5jeSBvZiBj cm9zcy1ib3 JkZXIgZW5l cmd5IHRyYW RpbmcuPGJy PjguIEl0IG hhcyBhIHN0 cm9uZyBzYW ZldHkgcmVj b3JkOiBUaG UgTmF0aW9u YWwgR3JpZC BoYXMgYSBz aWduaWZpY2 FudCBmb2N1 cyBvbiBzYW ZldHksIGJv dGggZm9yIG l0cyBlbXBs b3llZXMgYW 5kIHRoZSBw dWJsaWMuIF RoZSBjb21w YW55IGhhcy BpbXBsZW1l bnRlZCBudW 1lcm91cyBz YWZldHkgbW Vhc3VyZXMs IGluY2x1ZG luZyByZWd1 bGFyIGluc3 BlY3Rpb25z LCBtYWludG VuYW5jZSwg YW5kIHRyYW luaW5nLCB0 byBlbnN1cm UgdGhlIHNh ZmUgYW5kIH JlbGlhYmxl IG9wZXJhdG lvbiBvZiBp dHMgbmV0d2 9yay48YnI+ OS4gSXQgaX MgYSBtYWpv ciBlbXBsb3 llcjogVGhl IE5hdGlvbm FsIEdyaWQg ZW1wbG95cy BvdmVyIDIy LDAwMCBwZW 9wbGUgaW4g dGhlIFVLLC BtYWtpbmcg aXQgb25lIG 9mIHRoZSBs YXJnZXN0IG VtcGxveWVy cyBpbiB0aG UgZW5lcmd5 IHNlY3Rvci 4gVGhlIGNv bXBhbnkgYW xzbyBvZmZl cnMgb3Bwb3 J0dW5pdGll cyBmb3IgYX BwcmVudGlj ZXNoaXBzIG FuZCB0cmFp bmluZyBwcm 9ncmFtcyB0 byBkZXZlbG 9wIGEgc2tp bGxlZCB3b3 JrZm9yY2Ug Zm9yIHRoZS BmdXR1cmUu PGJyPjEwLi BJdCBpcyBh IHB1YmxpY2 x5IHRyYWRl ZCBjb21wYW 55OiBOYXRp b25hbCBHcm lkIGlzIGEg cHVibGljbH kgdHJhZGVk IGNvbXBhbn ksIGxpc3Rl ZCBvbiB0aG UgTG9uZG9u IFN0b2NrIE V4Y2hhbmdl IGFuZCB0aG UgTmV3IFlv cmsgU3RvY2 sgRXhjaGFu Z2UuIFRoaX MgbWVhbnMg dGhhdCBwZW 9wbGUgY2Fu IGludmVzdC BpbiB0aGUg Y29tcGFueS BhbmQgcG90 ZW50aWFsbH kgYmVuZWZp dCBmcm9tIG l0cyBmaW5h bmNpYWwgcG VyZm9ybWFu Y2Uu

VGhlIE5hdG lvbmFsIEdy aWQgY29tcG FueSdzIHBy aW1hcnkgYn VzaW5lc3Mg bW9kZWwgaX MgdG8gb3du IGFuZCBvcG VyYXRlIGVs ZWN0cmljaX R5IGFuZCBn YXMgdHJhbn NtaXNzaW9u IGFuZCBkaX N0cmlidXRp b24gbmV0d2 9ya3MgaW4g dGhlIFVuaX RlZCBLaW5n ZG9tIGFuZC B0aGUgTm9y dGhlYXN0ZX JuIFVuaXRl ZCBTdGF0ZX MuIEl0IGdl bmVyYXRlcy ByZXZlbnVl IGJ5IGNoYX JnaW5nIHRh cmlmZnMgZm 9yIHRoZSB1 c2Ugb2YgaX RzIG5ldHdv cmtzIGJ5IG VsZWN0cmlj aXR5IGFuZC BnYXMgc3Vw cGxpZXJzLC BhcyB3ZWxs IGFzIHRocm 91Z2ggcHJv dmlkaW5nIG 90aGVyIHNl cnZpY2VzIH N1Y2ggYXMg bWV0ZXJpbm cgYW5kIGdh cyBkaXN0cm lidXRpb24g YWN0aXZpdG llcy4gVGhl IGNvbXBhbn kgYWxzbyBo YXMgYSBncm 93aW5nIGZv Y3VzIG9uIH JlbmV3YWJs ZSBlbmVyZ3 kgYW5kIG9m ZmVycyBzZX J2aWNlcyBy ZWxhdGVkIH RvIGVuZXJn eSBtYW5hZ2 VtZW50IGFu ZCBlZmZpY2 llbmN5LiBB ZGRpdGlvbm FsbHksIHRo ZSBjb21wYW 55IG9wZXJh dGVzIGEgcm VndWxhdGVk IGluZnJhc3 RydWN0dXJl IGJ1c2luZX NzIG1vZGVs LCB3aGVyZS BpdCByZWNl aXZlcyBhIG ZpeGVkIHJh dGUgb2Ygcm V0dXJuIG9u IGl0cyBpbn Zlc3RtZW50 cyBpbiB0aG UgbmV0d29y ayBhc3NldH Mu

AI can indeed pose various threats to the National Grid company in several ways, although the extent of these threats may depend on the company’s ability to adapt and innovate.
1. Substitution: AI and advanced technologies can lead to the development of alternative energy solutions or systems that could substitute traditional services provided by National Grid. For instance, decentralized energy production, such as solar panels or wind turbines paired with smart energy management systems, can reduce reliance on traditional grid infrastructure. Customers may opt for self-sufficient energy solutions, impacting National Grid’s market share.
2. Disintermediation: AI can facilitate the direct exchange of energy between producers and consumers, reducing the need for centralized utility companies. Peer-to-peer energy trading platforms enabled by blockchain and AI can blur the lines between producers and consumers, allowing individuals and businesses to bypass traditional utility models. This could challenge National Grid’s role as a middleman and reduce its control over energy distribution.
3. Margin Pressure: The integration of AI can lead to increased operational efficiencies for competitors, enabling them to lower costs and offer cheaper services. If National Grid does not invest in AI and technology to enhance its own operational efficiencies, it could face margin pressure as competitors utilize AI-driven innovations to provide better services at lower prices. This includes predictive maintenance, optimized energy distribution, and enhanced customer engagement through AI-powered tools.
In summary, while AI presents potential threats through substitution, disintermediation, and margin pressure, it also offers opportunities for innovation and improvement. National Grid could enhance its competitive positioning by leveraging AI to optimize its own offerings and adapt to the evolving energy landscape.

The sensitivity of National Grid’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several key factors:
1. Earnings Sensitivity: National Grid operates in the utility sector, which is generally considered stable but can be sensitive to interest rate changes. Higher interest rates can lead to increased debt service costs, reducing net income. If National Grid has significant variable-rate debt, its interest expenses may rise with increasing rates, directly impacting earnings. Conversely, if rates increase, it could also signal a stronger economy, potentially boosting energy demand and revenues.
2. Cash Flow Sensitivity: Cash flow from operations may experience pressure from rising interest expenses if the company relies heavily on debt financing. Free cash flow could also be affected if the company needs to allocate more funds towards interest payments, leaving less available for dividends, investments, or other operational needs. However, stable revenue streams from regulated utility operations may provide some insulation against these changes, especially in the short term.
3. Valuation Sensitivity: Valuation is significantly impacted by interest rates, particularly through the discounted cash flow (DCF) model. Higher interest rates lead to a higher discount rate, which can decrease the present value of future cash flows, negatively impacting the stock’s valuation. Investors often reassess risk premiums in response to interest rate changes. Thus, if rates are expected to rise, the required rate of return for National Grid may increase, applying downward pressure on its market valuation.
In summary, while National Grid’s earnings, cash flow, and valuation are sensitive to interest rate changes, the utility’s regulatory framework and stable demand can provide some degree of protection. Nonetheless, the degree of sensitivity will depend on the extent of debt exposure and the overall economic environment.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgdG hlIE5hdGlv bmFsIEdyaW QgY29tcGFu eeKAmXMgZW Nvbm9taWNz IG92ZXIgdG hlIG5leHQg M+KAkzUgeW VhcnMgaW52 b2x2ZXMgYS Bjb21iaW5h dGlvbiBvZi ByZWd1bGF0 b3J5IGNoYW 5nZXMsIHRl Y2hub2xvZ2 ljYWwgZGlz cnVwdGlvbn MsIGFuZCBz aGlmdHMgaW 4gY29uc3Vt ZXIgYmVoYX Zpb3IuIFRo aXMgc2Nlbm FyaW8gbWln aHQgdW5mb2 xkIGFzIGZv bGxvd3M6PG JyPjEuIDxz dHJvbmc+Um VndWxhdG9y eSBDaGFuZ2 VzPC9zdHJv bmc+OiBHb3 Zlcm5tZW50 cyBjb3VsZC BpbXBsZW1l bnQgc3RyaW N0ZXIgcmVn dWxhdGlvbn MgYWltZWQg YXQgcmVkdW NpbmcgY2Fy Ym9uIGVtaX NzaW9ucyBm YXN0ZXIgdG hhbiBhbnRp Y2lwYXRlZC 4gVGhpcyBj b3VsZCByZX F1aXJlIE5h dGlvbmFsIE dyaWQgdG8g aW52ZXN0IG hlYXZpbHkg aW4gcmVuZX dhYmxlIGVu ZXJneSBpbm ZyYXN0cnVj dHVyZSwgc3 VjaCBhcyB3 aW5kIGFuZC Bzb2xhciBm YXJtcywgYW xvbmcgd2l0 aCBuZWNlc3 NhcnkgZ3Jp ZCB1cGdyYW RlcyB0byBh Y2NvbW1vZG F0ZSBkZWNl bnRyYWxpem VkIHBvd2Vy IGdlbmVyYX Rpb24uPGJy PjIuIDxzdH Jvbmc+VGVj aG5vbG9naW NhbCBEaXNy dXB0aW9ucz wvc3Ryb25n PjogQWR2YW 5jZXMgaW4g YmF0dGVyeS BzdG9yYWdl IHRlY2hub2 xvZ3kgYW5k IG1pY3JvZ3 JpZCBzb2x1 dGlvbnMgY2 91bGQgbGVh ZCB0byBpbm NyZWFzZWQg Y29uc3VtZX IgYWRvcHRp b24gb2YgZG lzdHJpYnV0 ZWQgZW5lcm d5IHJlc291 cmNlcy4gSG 9tZXMgYW5k IGJ1c2luZX NzZXMgbWln aHQgaW5jcm Vhc2luZ2x5 IHJlbHkgb2 4gc29sYXIg cGFuZWxzIG FuZCBiYXR0 ZXJ5IHN5c3 RlbXMsIHRo ZXJlYnkgcm VkdWNpbmcg dGhlaXIgZG VwZW5kZW5j ZSBvbiBjZW 50cmFsaXpl ZCBwb3dlci Bzb3VyY2Vz LiBUaGlzIH dvdWxkIG5l Z2F0aXZlbH kgYWZmZWN0 IE5hdGlvbm FsIEdyaWTi gJlzIHJldm VudWUgYXMg ZGVtYW5kIG ZvciB0cmFk aXRpb25hbC BlbmVyZ3kg ZGlzdHJpYn V0aW9uIGRl Y2xpbmVzLj xicj4zLiA8 c3Ryb25nPk NvbnN1bWVy IEJlaGF2aW 9yIFNoaWZ0 czwvc3Ryb2 5nPjogQSBn cm93aW5nIG VtcGhhc2lz IG9uIGVuZX JneSBpbmRl cGVuZGVuY2 UgYW5kIHN1 c3RhaW5hYm lsaXR5IGNv dWxkIGRyaX ZlIGN1c3Rv bWVycyB0by BzZWVrIGFs dGVybmF0aX ZlIGVuZXJn eSBzb2x1dG lvbnMsIGZ1 cnRoZXIgZX JvZGluZyB0 aGUgdHJhZG l0aW9uYWwg dXRpbGl0eS BidXNpbmVz cyBtb2RlbC 4gQWRkaXRp b25hbGx5LC B0cmVuZHMg dG93YXJkIG VuZXJneSBl ZmZpY2llbm N5IGFuZCBk ZW1hbmQtc2 lkZSBtYW5h Z2VtZW50IG NvdWxkIHJl ZHVjZSBvdm VyYWxsIGVs ZWN0cmljaX R5IGNvbnN1 bXB0aW9uLj xicj5JbiB0 aGlzIHNjZW 5hcmlvLCBO YXRpb25hbC BHcmlk4oCZ cyBtYXJnaW 5zIHdvdWxk IGxpa2VseS Bjb21wcmVz cyBkdWUgdG 8gaW5jcmVh c2VkIG9wZX JhdGlvbmFs IGNvc3RzIG Zyb20gdGhl IG5lY2Vzc2 FyeSBpbnZl c3RtZW50cy BpbiBpbmZy YXN0cnVjdH VyZSBhbmQg bG93ZXIgcm V2ZW51ZSBm cm9tIHRyYW RpdGlvbmFs IHV0aWxpdH kgb3BlcmF0 aW9ucy4gUm VkdWNlZCBk ZW1hbmQgY2 9tYmluZWQg d2l0aCByZW d1bGF0b3J5 IGNvc3RzIG 1pZ2h0IGxl YWQgdG8gYS BkZXRlcmlv cmF0aW9uIG luIGNhc2gg ZmxvdywgbW FraW5nIGl0 IGhhcmRlci Bmb3IgdGhl IGNvbXBhbn kgdG8gbWFp bnRhaW4gaX RzIGRpdmlk ZW5kIGFuZC BzZXJ2aWNl IGV4aXN0aW 5nIGRlYnQu PGJyPk9uIH RoZSBiYWxh bmNlIHNoZW V0LCBOYXRp b25hbCBHcm lkIGNvdWxk IHNob3cgaW 5jcmVhc2Vk IGxpYWJpbG l0aWVzIGR1 ZSB0byB0aG UgbmV3IGRl YnQgaW5jdX JyZWQgZnJv bSBpbnZlc3 RtZW50cyBp biBzdXN0YW luYWJsZSBl bmVyZ3kgaW 5pdGlhdGl2 ZXMsIHdoaW xlIGFzc2V0 cyBjb3VsZC BiZSB1bmRl ciBwcmVzc3 VyZSBpZiB0 aGUgdmFsdW Ugb2YgZXhp c3RpbmcgZm 9zc2lsLWZ1 ZWwtYmFzZW QgaW5mcmFz dHJ1Y3R1cm UgZGVjbGlu ZXMuIFRoaX MgY291bGQg bGVhZCB0by BhIGxvd2Vy IGVxdWl0eS Bwb3NpdGlv biwgaW1wYW N0aW5nIHRo ZSBjb21wYW 554oCZcyBm aW5hbmNpYW wgc3RhYmls aXR5IGFuZC BjcmVkaXQg cmF0aW5nLj xicj5VbHRp bWF0ZWx5LC BpZiBzdWNo IGEgc2Nlbm FyaW8gcGxh eWVkIG91dC wgTmF0aW9u YWwgR3JpZC B3b3VsZCBu ZWVkIHRvIG FkYXB0IHF1 aWNrbHkgdG 8gdGhlIGNo YW5naW5nIG xhbmRzY2Fw ZSB0byBhdm 9pZCBsb25n LXRlcm0gZW Nvbm9taWMg aW1wYWlybW VudC4gVGhl IGNvbWJpbm F0aW9uIG9m IHNocmlua2 luZyBtYXJn aW5zLCBzdH JhaW5lZCBj YXNoIGZsb3 csIGFuZCBh IHBvdGVudG lhbGx5IHdl YWtlbmVkIG JhbGFuY2Ug c2hlZXQgd2 91bGQgY3Jl YXRlIHNpZ2 5pZmljYW50 IGNoYWxsZW 5nZXMgZm9y IHRoZSBjb2 1wYW554oCZ cyBmdXR1cm UgdmlhYmls aXR5IGFuZC BhdHRyYWN0 aXZlbmVzcy B0byBpbnZl c3RvcnMuPG JyPg==

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 bG9nb3MvZl NJRzVMcXZI c2lSM3JpM0 pveFYud2Vi cCIgYWx0PS JOYXRpb25h bCBHcmlkIi B0aXRsZT0i TmF0aW9uYW wgR3JpZCIg IGNsYXNzPS JpbWctZmx1 aWQiIGhlaW dodD01MCB3 aWR0aD01MC Bsb2FkaW5n PSdsYXp5Jy BzdHlsZT0n Ym9yZGVyLX JhZGl1czog NnB4Oyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J2ZsZXg6 IDE7IHRleH QtYWxpZ246 IGNlbnRlcj sgbWFyZ2lu LWxlZnQ6ID VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8cCBzdHls ZT0nZm9udC 1zaXplOiAy NnB4OyBjb2 xvcjogIzMz MzsgbWFyZ2 luLWJvdHRv bTogMTVweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Ag8J+TiCBX YW50IHRvIH JlYWQgbW9y ZSBhYm91dC BOYXRpb25h bCBHcmlkPw ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdpbmRl eC5waHA/cG FnZT1zaWdu dXAnIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICMw MDdCRkY7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBjb2 xvcjogI2Zm ZjsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IHBhZGRpbm c6IDEwcHgg MjBweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGJvcm Rlci1yYWRp dXM6IDVweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH RleHQtZGVj b3JhdGlvbj ogbm9uZTsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGZv bnQtd2VpZ2 h0OiBib2xk OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luLX JpZ2h0OiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgdHJhbn NpdGlvbjog YmFja2dyb3 VuZC1jb2xv ciAwLjNzIG Vhc2U7Jwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgb25t b3VzZW92ZX I9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA1NmIz IicKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IG9ubW91c2 VvdXQ9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA3 QkZGIic+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIGZv ciBmcmVlCi AgICAgICAg ICAgICAgIC AgICAgICAg IDwvYT4KCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxzcGFuIH N0eWxlPSdt YXJnaW46ID AgOHB4OyBj b2xvcjogIz U1NTsnPm9y PC9zcGFuPg oKICAgICAg ICAgICAgIC AgICAgICAg ICAgPGEgaH JlZj0naW5k ZXgucGhwP3 BhZ2U9bG9n aW4nIHN0eW xlPScKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGNvbG9y OiAjMDA3Qk ZGOwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdGV4dC1k ZWNvcmF0aW 9uOiB1bmRl cmxpbmU7Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBmb2 50LXdlaWdo dDogNTAwOy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bsb2cgaW4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9hPgoK CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdtYX JnaW4tdG9w OiAxNXB4Oy Bmb250LXNp emU6IDEzcH g7IGZvbnQt d2VpZ2h0Oi Bib2xkOyBj b2xvcjogI2 QzMmYyZjsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg 8J+TmiBZb3 VyIGZyZWUg Y29weSBvZi A8aT4iVGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2NrcyI8 L2k+IGlzIH dhaXRpbmcK 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 R2hsSUUgNW hkR2x2Ym1G cyBJRWR5YV dRZ2FYIE1n WVNCQ2NtbD AgYVhOb0lH MTFiSCBScG JtRjBhVzl1 IFlXd2daV3 hsWTMgUnlh V05wZEhrZy BZVzVrSUdk aGN5IEIxZE dsc2FYUjUg SUdOdmJYQm hibiBrZ2RH aGhkQ0J2IG NHVnlZWFJs Y3kgQnBiaU IwYUdVZyBW VzVwZEdWa0 lFIHRwYm1k a2IyMGcgWV c1a0lIUm9a UyBCdWIzSj BhR1ZoIGMz UmxjbTRnVl cgNXBkR1Zr SUZOMCBZWF JsY3k0OFlu IEkrTWk0Z1 NYUWcgZDJG eklHWnZkVy A1a1pXUWdh VzRnIE1Uaz VNQ0JoY3kg QmhJSEpsYz NWcyBkQ0J2 WmlCMGFHIF VnY0hKcGRt RjAgYVhwaG RHbHZiaSBC dlppQjBhR1 VnIFpXeGxZ M1J5YVcgTn BkSGtnYVc1 ayBkWE4wY2 5rZ2FXIDRn ZEdobElGVk wgTGp4aWNq NHpMaSBCVW FHVWdUbUYw IGFXOXVZV3 dnUjMgSnBa Q0JwY3lCeS BaWE53YjI1 emFXIEpzWl NCbWIzSWcg ZEdobElIUn lZVyA1emJX bHpjMmx2IG JpQmhibVFn WkcgbHpkSE pwWW5WMCBh Vzl1SUc5bU lHIFZzWldO MGNtbGogYV hSNUlHRnVa QyBCdVlYUj FjbUZzIElH ZGhjeUIwYn kgQm9iMjFs Y3l3ZyBZbl Z6YVc1bGMz IE5sY3l3Z1 lXNWsgSUdO dmJXMTFibS BsMGFXVnpJ R2x1IElIUm 9aU0JWU3kg QmhibVFnZE dobCBJRlZU TGp4aWNqID QwTGlCSmRI TWcgWld4bF kzUnlhVyBO cGRIa2dkSE poIGJuTnRh WE56YVcgOX VJRzVsZEhk diBjbXNnYV c0Z2RHIGhs SUZWTElHTn YgZG1WeWN5 QnZkbSBWeU lEY3NNREF3 IElHdHBiRz l0WlggUmxj bk1nYjJZZy BhR2xuYUMx MmIyIHgwWV dkbElHOTIg WlhKb1pXRm tJRyB4cGJt VnpJR0Z1IF pDQjFibVJs Y20gZHliM1 Z1WkNCaiBZ V0pzWlhNc0 lHIFJsYkds MlpYSnAgYm 1jZ2NHOTNa WCBJZ2RHOG diM1psIGNp QXpMalVnYl cgbHNiR2x2 YmlCbyBiMj FsY3lCaGJt IFFnWW5Wem FXNWwgYzNO bGN5NDhZbi BJK05TNGdW R2hsIElFNW hkR2x2Ym0g RnNJRWR5YV dUaSBnSmx6 SUdkaGN5IE IwY21GdWMy MXAgYzNOcG IyNGdibSBW MGQyOXlheU JwIGJpQjBh R1VnVlUgc2 dhWE1nYjI1 bCBJRzltSU hSb1pTIEJz WVhKblpYTj AgSUdsdUlI Um9aUyBCM2 IzSnNaQ3dn IFkyOTJaWE pwYm0gY2dO eXcyTmpBZy BhMmxzYjIx bGRHIFZ5Y3 lCdlppQm8g YVdkb0xYQn laWCBOemRY SmxJSEJwIG NHVnNhVzVs Y3kgNDhZbk krTmk0ZyBW R2hsSUdOdm JYIEJoYm5r Z1lXeHogYn lCdmNHVnlZ WCBSbGN5Qj BhR1VnIFpX eGxZM1J5YV cgTnBkSGtn WVc1ayBJR2 RoY3lCdFpY IFJsY25NZ2 FXNGcgZEdo bElGVkxJRy BGdVpDQnBj eUJ5IFpYTn diMjV6YVcg SnNaU0JtYj NJZyBiV0Zw Ym5SaGFXID VwYm1jZ1lX NWsgSUhWd1 ozSmhaRyBs dVp5QjBhR1 VnIGJtRjBh Vzl1WVcgd2 diV1YwWlhK cCBibWNnYz NsemRHIFZ0 TGp4aWNqND MgTGlCVWFH VWdUbSBGMG FXOXVZV3dn IFIzSnBaT0 tBbVggTWdW Vk1nYjNCbC BjbUYwYVc5 dWN5IEJqYj NabGNpQjAg YUdVZ2MzUm hkRyBWeklH OW1JRTVsIG R5QlpiM0py TEMgQk5ZWE 56WVdObyBk WE5sZEhSek xDIEJoYm1R Z1VtaHYgWk dVZ1NYTnNZ VyA1a0xDQj NhWFJvIElH RWdZMjl0WW 0gbHVaV1Fn Y0c5dyBkV3 hoZEdsdmJp IEJ2WmlCdm RtVnkgSURJ d0lHMXBiRy B4cGIyNGdj R1Z2IGNHeG xManhpY2og NDRMaUJKYm lBeSBNREUw TENCMGFHIF VnVG1GMGFX OXUgWVd3Z1 IzSnBaQyBC cGJuUnliMl IxIFkyVmtJ SFJvWlMgQm piMjVqWlhC MCBJRzltSU hOMWNHIFZ5 WjNKcFpITX MgSUhkb2FX Tm9JRyBGeV pTQm9hV2Rv IExYWnZiSF JoWjIgVWda R2x5WldOMC BJR04xY25K bGJuIFFnZE hKaGJuTnQg YVhOemFXOX VJRyA1bGRI ZHZjbXR6IE lHUmxjMmxu Ym0gVmtJSF J2SUhSeSBZ VzV6Y0c5eW RDIEJzWVhK blpTQmggYl c5MWJuUnpJ RyA5bUlISm xibVYzIFlX SnNaU0JsYm 0gVnlaM2tn WVdOeSBiM0 56SUd4dmJt IGNnWkdsem RHRnUgWTJW ekxqeGljai A0NUxpQlVh R1VnIFkyOX RjR0Z1ZVMg Qm9ZWE1nZD I5dSBJSE5s ZG1WeVlXIH dnWVhkaGNt UnogSUdadm NpQnBkSCBN Z2FXNXBkR2 xoIGRHbDJa WE1nYVcgNG djM1Z6ZEdG cCBibUZpYV d4cGRIIGtn WVc1a0lHbH ogSUdOdmJX MXBkSCBSbF pDQjBieUJ5 IFpXUjFZMm x1WnkgQnBk SE1nWTJGeS BZbTl1SUdW dGFYIE56YV c5dWN5Qmgg Ym1RZ2NISn ZiVyA5MGFX NW5JSEpsIG JtVjNZV0pz WlMgQmxibV Z5WjNrdSBQ R0p5UGpFd0 xpIEJVYUdV Z1RtRjAgYV c5dVlXd2dS MyBKcFpDQm 9ZWE1nIGIz WmxjaUF5TW kgd3dNREFn WlcxdyBiRz k1WldWeklI IGR2Y214a2 QybGsgWlNC aGJtUWdhWC BNZ2JHbHpk R1ZrIElHOX VJR0p2ZEcg Z2dkR2hsSU V4diBibVJ2 YmlCaGJtIF FnVG1WM0lG bHYgY21zZ2 MzUnZZMiBz Z1pYaGphR0 Z1IFoyVnpM anhpY2ogNH hNUzRnU1c0 ZyBNakF4T0 N3Z2RHIGhs SUdOdmJYQm ggYm5rZ2Nt VndiMyBKMF pXUWdjbVYy IFpXNTFaWE 1nYjIgWWdi M1psY2lEQy BvekUxSUdK cGJHIHhwYj I0Z1lXNWsg SUdFZ2NISn ZabSBsMElH SmxabTl5IF pTQjBZWGdn YjIgWWd3cU 15TGpjZyBZ bWxzYkdsdm JpIDQ4WW5J K01USXUgSU ZSb1pTQk9Z WCBScGIyNW hiQ0JIIGNt bGtJR2x6SU ggUm9aU0J2 Ym14NSBJSF YwYVd4cGRI IGtnWTI5dG NHRnUgZVNC cGJpQjBhRy BVZ2QyOXli R1FnIGRHOG dZbVVnWVMg QnRaVzFpWl hJZyBiMlln ZEdobElFIF J2ZHlCS2Iy NWwgY3lCVG RYTjBZVyBs dVlXSnBiR2 wwIGVTQkpi bVJsZUMgQm 1iM0lnTVRJ ZyBZMjl1Yz JWamRYIFJw ZG1VZ2VXVm ggY25NdVBH SnlQaiBFek xpQkpkQ0Jv IFlYTWdZV3 h6YnkgQmla V1Z1SUhKbC BZMjluYm1s NlpXIFFnWV hNZ2IyNWwg SUc5bUlIUm 9aUyBCM2Iz SnNaT0tBIG 1YTWdiVzl6 ZEMgQmxkR2 hwWTJGcyBJ R052YlhCaG JtIGxsY3lC aWVTQjAgYU dVZ1JYUm9h WCBOd2FHVn laU0JKIGJu TjBhWFIxZE cgVWdabTl5 SUhSbyBaU0 J3WVhOMElE IEV3SUhsbF lYSnogTGp4 aWNqNHhOQy A0Z1ZHaGxJ RTVoIGRHbH ZibUZzSUUg ZHlhV1FnYV hNZyBhVzUy WlhOMGFXID VuSUdsdUlH NWwgZHlCMF pXTm9ibSA5 c2IyZHBaWE 1nIGRHOGdh VzF3Y20gOT JaU0IwYUdV ZyBaV1ptYV dOcFpXIDVq ZVNCdlppQn AgZEhNZ2Iz QmxjbSBGMG FXOXVjeXdn IGFXNWpiSF ZrYVcgNW5J SFJvWlNCMS BjMlVnYjJZ Z1pIIEp2Ym 1WeklHRnUg WkNCaFpIWm hibSBObFpD QmtZWFJoIE lHRnVZV3g1 ZEcgbGpjeT Q4WW5JKyBN VFV1SUZSb1 pTIEJqYjIx d1lXNTUgSU doaGN5QmhJ SCBOMGNtOX VaeUJqIGIy MXRhWFJ0Wl cgNTBJSFJ2 SUhOdiBZMm xoYkNCeVpY IE53YjI1em FXSnAgYkds MGVTQmhibS BRZ1kyOXRi WFZ1IGFYUj VJR1Z1WjIg Rm5aVzFsYm 5RcyBJSE4x Y0hCdmNuIF JwYm1jZ2JH OWogWVd3Z1 kyaGhjbSBs MGFXVnpJR0 Z1IFpDQnBi bWwwYVcgRj BhWFpsY3lC cCBiaUIwYU dVZ1lYIEps WVhNZ2QyaG wgY21VZ2FY UWdiMyBCbG NtRjBaWE11 CiAgICAgIC AgPC9zcGFu PgogICAgIC AgIAogICAg ICAgIA==