Alfa Laval

Live  

and their products
Alfa Laval is a Swedish company that specializes in the production of heat transfer, separation, and fluid handling products. The company was founded in 1883 by Gustaf de Laval, a Swedish engineer and inventor. It is currently headquartered in Lund, Sweden, and operates in over 100 countries worldwide.
The company’s products are used in a wide range of industries, including food and beverage, pharmaceuticals, energy, and marine. Some of their most well-known products include heat exchangers, pumps, valves, and separators, which are used for tasks such as heating, cooling, separating, and transferring fluids.
Alfa Laval’s focus on sustainability and innovation has made it a leader in the industry. They have a strong commitment to reducing energy consumption and minimizing environmental impact in their operations and products. They also constantly invest in research and development to improve their products and services.
Overall, Alfa Laval is a trusted and reputable company with a long history of providing high-quality and reliable products to its customers.

QWxmYSBMYX ZhbCBpcyBh IGJpZyBjb2 1wYW55IHRo YXQgbWFrZX Mgc3BlY2lh bCBtYWNoaW 5lcyBhbmQg dG9vbHMgdG hhdCBoZWxw IGRpZmZlcm VudCBpbmR1 c3RyaWVzLC BsaWtlIGZv b2QsIGVuZX JneSwgYW5k IHdhdGVyLC B0byB3b3Jr IGJldHRlci BhbmQgc21h cnRlci4gSW 1hZ2luZSBp ZiB5b3UgaG F2ZSBhIGJp ZyBqdWljZS BmYWN0b3J5 OyBBbGZhIE xhdmFsIG1h a2VzIGVxdW lwbWVudCB0 aGF0IGhlbH BzIHNlcGFy YXRlIHRoZS BqdWljZSBm cm9tIHRoZS BwdWxwIGFu ZCBjbGVhbi BldmVyeXRo aW5nIHVwLj xicj5UaGV5 IG1ha2UgbW 9uZXkgYnkg c2VsbGluZy B0aGVzZSBt YWNoaW5lcy BhbmQgYWxz byBieSBwcm 92aWRpbmcg c2VydmljZX MsIGxpa2Ug Zml4aW5nIG FuZCBtYWlu dGFpbmluZy B0aGVtLiBN YW55IGNvbX BhbmllcyBu ZWVkIHRoZW lyIGVxdWlw bWVudCB0by BydW4gc21v b3RobHksIH NvIHRoZXkg Y29tZSB0by BBbGZhIExh dmFsIGZvci BoZWxwLjxi cj5BbGZhIE xhdmFsIGlz IHN1Y2Nlc3 NmdWwgZm9y IGEgZmV3IH JlYXNvbnMu IEZpcnN0LC B0aGVpciBl cXVpcG1lbn QgaXMgcmVh bGx5IGdvb2 QgYXQgc2F2 aW5nIGVuZX JneSBhbmQg cmVkdWNpbm cgd2FzdGUs IHdoaWNoIG lzIGltcG9y dGFudCB0by BtYW55IGNv bXBhbmllcy BiZWNhdXNl IGl0IGhlbH BzIHRoZW0g c2F2ZSBtb2 5leSBhbmQg dGFrZSBjYX JlIG9mIHRo ZSBlbnZpcm 9ubWVudC4g U2Vjb25kLC B0aGV5IGhh dmUgYmVlbi Bhcm91bmQg Zm9yIGEgbG 9uZyB0aW1l LCBzbyB0aG V5IGhhdmUg YSBsb3Qgb2 YgZXhwZXJp ZW5jZSBhbm Qga25vdy1o b3cuIEZpbm FsbHksIHRo ZSB3b3JsZC BpcyBhbHdh eXMgdHJ5aW 5nIHRvIGJl IG1vcmUgZW NvLWZyaWVu ZGx5LCBhbm QgQWxmYSBM YXZhbCBoYX MgZ3JlYXQg c29sdXRpb2 5zIHRoYXQg aGVscCB3aX RoIHRoaXMs IHdoaWNoIG 1lYW5zIHRo ZXkgd2lsbC BsaWtlbHkg Y29udGludW UgdG8gYmUg aW4gZGVtYW 5kIGluIHRo ZSBmdXR1cm UuPGJyPg==

VGhlcmUgYX JlIGEgZmV3 IHRoaW5ncy B0aGF0IGFy ZSBzcGVjaW FsIGFib3V0 IHRoZSBBbG ZhIExhdmFs IGNvbXBhbn k6PGJyPjEu IElubm92YX Rpb246IEFs ZmEgTGF2YW wgaGFzIGEg aGlzdG9yeS BvZiBpbm5v dmF0aW9uIG FuZCBpcyBj b25zdGFudG x5IGludmVz dGluZyBpbi ByZXNlYXJj aCBhbmQgZG V2ZWxvcG1l bnQgdG8gY2 9tZSB1cCB3 aXRoIG5ldy BhbmQgaW1w cm92ZWQgcH JvZHVjdHMu IFRoaXMgaG FzIG5vdCBv bmx5IGtlcH QgdGhlbSBh dCB0aGUgZm 9yZWZyb250 IG9mIHRoZW lyIGluZHVz dHJ5IGJ1dC BoYXMgYWxz byBhbGxvd2 VkIHRoZW0g dG8gbWVldC B0aGUgZXZl ci1jaGFuZ2 luZyBuZWVk cyBvZiB0aG VpciBjdXN0 b21lcnMuPG JyPjIuIEJy b2FkIHJhbm dlIG9mIHBy b2R1Y3RzOi BBbGZhIExh dmFsIG9mZm VycyBhIHdp ZGUgcmFuZ2 Ugb2YgcHJv ZHVjdHMgYW 5kIHNvbHV0 aW9ucyBpbi B0aHJlZSBr ZXkgYXJlYX M6IGhlYXQg dHJhbnNmZX IsIHNlcGFy YXRpb24sIG FuZCBmbHVp ZCBoYW5kbG luZy4gVGhp cyBhbGxvd3 MgdGhlbSB0 byBjYXRlci B0byBhIGRp dmVyc2Ugcm FuZ2Ugb2Yg aW5kdXN0cm llcywgZnJv bSBmb29kIG FuZCBiZXZl cmFnZSB0by BlbmVyZ3kg YW5kIG1hcm luZS48YnI+ My4gU3VzdG FpbmFiaWxp dHkgZm9jdX M6IEFsZmEg TGF2YWwgaX MgY29tbWl0 dGVkIHRvIH N1c3RhaW5h YmlsaXR5IG FuZCBoYXMg c2V0IGFtYm l0aW91cyBz dXN0YWluYW JpbGl0eSBn b2FscyBmb3 IgdGhlbXNl bHZlcy4gVG hleSBzdHJp dmUgdG8gcm VkdWNlIHRo ZWlyIG93bi BlbnZpcm9u bWVudGFsIG ltcGFjdCBh bmQgYWxzby BoZWxwIHRo ZWlyIGN1c3 RvbWVycyBi ZWNvbWUgbW 9yZSBzdXN0 YWluYWJsZS B0aHJvdWdo IHRoZWlyIH Byb2R1Y3Rz IGFuZCBzb2 x1dGlvbnMu PGJyPjQuIE dsb2JhbCBw cmVzZW5jZT ogQWxmYSBM YXZhbCBvcG VyYXRlcyBp biBtb3JlIH RoYW4gMTAw IGNvdW50cm llcywgd2l0 aCBhIHN0cm 9uZyBwcmVz ZW5jZSBpbi Bib3RoIGRl dmVsb3BlZC BhbmQgZW1l cmdpbmcgbW Fya2V0cy4g VGhpcyBhbG xvd3MgdGhl bSB0byBoYX ZlIGEgZGVl cCB1bmRlcn N0YW5kaW5n IG9mIGxvY2 FsIG1hcmtl dHMgYW5kIH NlcnZlIHRo ZWlyIGN1c3 RvbWVycyBt b3JlIGVmZm VjdGl2ZWx5 Ljxicj41Li BDdXN0b21l ci1jZW50cm ljIGFwcHJv YWNoOiBBbG ZhIExhdmFs IHB1dHMgdG hlaXIgY3Vz dG9tZXJzIG F0IHRoZSBj ZW50ZXIgb2 YgZXZlcnl0 aGluZyB0aG V5IGRvLiBU aGV5IHdvcm sgY2xvc2Vs eSB3aXRoIH RoZWlyIGN1 c3RvbWVycy B0byB1bmRl cnN0YW5kIH RoZWlyIG5l ZWRzIGFuZC BkZXZlbG9w IGN1c3RvbW l6ZWQgc29s dXRpb25zIH RvIG1lZXQg dGhvc2Ugbm VlZHMuPGJy PjYuIEhpZ2 gtcXVhbGl0 eSBwcm9kdW N0czogQWxm YSBMYXZhbC BpcyBrbm93 biBmb3IgdG hlaXIgaGln aC1xdWFsaX R5IHByb2R1 Y3RzIHRoYX QgYXJlIHJl bGlhYmxlIG FuZCBlZmZp Y2llbnQuIF RoZXkgaGF2 ZSBhIHN0cm 9uZyBmb2N1 cyBvbiBxdW FsaXR5IGNv bnRyb2wgYW 5kIGNvbnRp bnVvdXNseS BzdHJpdmUg dG8gaW1wcm 92ZSB0aGVp ciBwcm9kdW N0cyBhbmQg cHJvY2Vzc2 VzLjxicj5P dmVyYWxsLC BBbGZhIExh dmFsIGlzIG Egd2VsbC1y ZXNwZWN0ZW QgY29tcGFu eSB3aXRoIG Egc3Ryb25n IHJlcHV0YX Rpb24gZm9y IGlubm92YX Rpb24sIHN1 c3RhaW5hYm lsaXR5LCBh bmQgY3VzdG 9tZXIgc2F0 aXNmYWN0aW 9uLg==

QWxmYSBMYX ZhbCBpcyBh IGdsb2JhbC Bjb21wYW55 IHRoYXQgcH JvdmlkZXMg c3BlY2lhbG l6ZWQgcHJv ZHVjdHMgYW 5kIGVuZ2lu ZWVyaW5nIH NvbHV0aW9u cyBmb3IgYS B3aWRlIHJh bmdlIG9mIG luZHVzdHJp ZXMuIFRoZW lyIGJ1c2lu ZXNzIG1vZG VsIGlzIGNl bnRlcmVkIG Fyb3VuZCBp bm5vdmF0aW 9uLCBleHBl cnRpc2UsIG FuZCBjdXN0 b21lciBmb2 N1cy4gVGhl eSBhaW0gdG 8gcHJvdmlk ZSBlZmZpY2 llbnQgYW5k IHN1c3RhaW 5hYmxlIHNv bHV0aW9ucy B0aGF0IGVu aGFuY2UgdG hlaXIgY3Vz dG9tZXJz4o CZIHBlcmZv cm1hbmNlIG FuZCBwcm9m aXRhYmlsaX R5Ljxicj5U aGVpciBidX NpbmVzcyBt b2RlbCBjb2 5zaXN0cyBv ZiB0aGUgZm 9sbG93aW5n IGtleSBlbG VtZW50czo8 YnI+MS4gUH JvZHVjdCBw b3J0Zm9saW 86IEFsZmEg TGF2YWwgb2 ZmZXJzIGEg ZGl2ZXJzZS ByYW5nZSBv ZiBwcm9kdW N0cywgaW5j bHVkaW5nIG hlYXQgZXhj aGFuZ2Vycy wgc2VwYXJh dG9ycywgcH VtcHMsIHZh bHZlcywgYW 5kIGZsdWlk IGhhbmRsaW 5nIGVxdWlw bWVudC4gVG hlc2UgcHJv ZHVjdHMgYX JlIGRlc2ln bmVkIHRvIG 1lZXQgdGhl IHNwZWNpZm ljIG5lZWRz IG9mIHZhcm lvdXMgaW5k dXN0cmllcy wgc3VjaCBh cyBlbmVyZ3 ksIGZvb2Qg YW5kIGJldm VyYWdlLCBt YXJpbmUsIG FuZCBwaGFy bWFjZXV0aW NhbHMuPGJy PjIuIFJlc2 VhcmNoIGFu ZCBkZXZlbG 9wbWVudDog VGhlIGNvbX BhbnkgaW52 ZXN0cyBoZW F2aWx5IGlu IHJlc2Vhcm NoIGFuZCBk ZXZlbG9wbW VudCB0byBz dGF5IGFoZW FkIG9mIHRo ZSBjb21wZX RpdGlvbiBh bmQgcGlvbm VlciBuZXcg dGVjaG5vbG 9naWVzLiBU aGV5IGhhdm Ugc2V2ZXJh bCByZXNlYX JjaCBjZW50 ZXJzIGFyb3 VuZCB0aGUg d29ybGQgdG hhdCBmb2N1 cyBvbiBkZX ZlbG9waW5n IGlubm92YX RpdmUgcHJv ZHVjdHMgYW 5kIHNvbHV0 aW9ucy48Yn I+My4gQ3Vz dG9tZXIgZm 9jdXM6IEFs ZmEgTGF2YW wgcHV0cyBn cmVhdCBlbX BoYXNpcyBv biB1bmRlcn N0YW5kaW5n IHRoZWlyIG N1c3RvbWVy c+KAmSBuZW VkcyBhbmQg cHJvdmlkaW 5nIHRhaWxv cmVkIHNvbH V0aW9ucy4g VGhleSB3b3 JrIGNsb3Nl bHkgd2l0aC B0aGVpciBj dXN0b21lcn MgdG8gdW5k ZXJzdGFuZC B0aGUgY2hh bGxlbmdlcy B0aGV5IGZh Y2UgYW5kIG 9mZmVyIHBl cnNvbmFsaX plZCBzb2x1 dGlvbnMgdG 8gaGVscCB0 aGVtIGFjaG lldmUgdGhl aXIgZ29hbH MuPGJyPjQu IFN1c3RhaW 5hYmlsaXR5 OiBTdXN0YW luYWJpbGl0 eSBpcyBhdC B0aGUgY29y ZSBvZiBBbG ZhIExhdmFs 4oCZcyBidX NpbmVzcy4g VGhleSBzdH JpdmUgdG8g ZGV2ZWxvcC Bwcm9kdWN0 cyBhbmQgc2 9sdXRpb25z IHRoYXQgYX JlIGVuZXJn eS1lZmZpY2 llbnQsIHJl ZHVjZSB3YX N0ZSwgYW5k IHByb21vdG Ugc3VzdGFp bmFibGUgcH JhY3RpY2Vz Ljxicj41Li BBZnRlci1z YWxlcyBzZX J2aWNlczog QWxmYSBMYX ZhbCBvZmZl cnMgYSByYW 5nZSBvZiBh ZnRlci1zYW xlcyBzZXJ2 aWNlcywgaW 5jbHVkaW5n IG1haW50ZW 5hbmNlLCBz cGFyZSBwYX J0cywgYW5k IHVwZ3JhZG VzLCB0byBl bnN1cmUgdG hhdCB0aGVp ciBjdXN0b2 1lcnPigJkg ZXF1aXBtZW 50IG9wZXJh dGVzIGF0IH BlYWsgZWZm aWNpZW5jeS B0aHJvdWdo b3V0IGl0cy BsaWZlc3Bh bi48YnI+Ni 4gR2xvYmFs IHByZXNlbm NlOiBUaGUg Y29tcGFueS BoYXMgYSBz dHJvbmcgZ2 xvYmFsIHBy ZXNlbmNlLC B3aXRoIHNh bGVzIG9mZm ljZXMsIHBy b2R1Y3Rpb2 4gZmFjaWxp dGllcywgYW 5kIHNlcnZp Y2UgY2VudG VycyBpbiBv dmVyIDEwMC Bjb3VudHJp ZXMuIFRoaX MgYWxsb3dz IHRoZW0gdG 8gc2VydmUg dGhlaXIgY3 VzdG9tZXJz IHdvcmxkd2 lkZSBhbmQg YWRhcHQgdG 8gbG9jYWwg bWFya2V0IG 5lZWRzLjxi cj5PdmVyYW xsLCBBbGZh IExhdmFs4o CZcyBidXNp bmVzcyBtb2 RlbCBpcyBm b2N1c2VkIG 9uIHByb3Zp ZGluZyBoaW doLXF1YWxp dHksIHN1c3 RhaW5hYmxl IHNvbHV0aW 9ucyBhbmQg YnVpbGRpbm cgbG9uZy10 ZXJtIHJlbG F0aW9uc2hp cHMgd2l0aC B0aGVpciBj dXN0b21lcn MuIFRoaXMg aGFzIGJlZW 4gdGhlIGtl eSB0byB0aG VpciBzdWNj ZXNzIGluIG JlY29taW5n IGEgbGVhZG luZyBwcm92 aWRlciBvZi BzcGVjaWFs aXplZCBwcm 9kdWN0cyBh bmQgZW5naW 5lZXJpbmcg c29sdXRpb2 5zLg==

AI has the potential to impact Alfa Laval, a company known for its products and services in heat transfer, separation, and fluid handling, in several ways.
1. Substitution: AI-driven technologies may enable alternative solutions that could replace traditional processes for heat exchange, separation, or fluid handling. For example, advancements in materials science or automation could lead to more efficient systems that outperform Alfa Laval’s offerings. However, Alfa Laval’s established reputation, expertise, and existing customer relationships provide a strong defense against direct substitution in the near term.
2. Disintermediation: AI can enhance efficiency in supply chain management and customer interactions, potentially allowing end-users to work more directly with manufacturers. This could reduce the need for intermediaries or traditional service providers. Alfa Laval would need to adapt its business models and partnerships to maintain relevance in a landscape where AI could streamline operations and direct customers to alternatives.
3. Margin Pressure: The development and implementation of AI solutions could lead to increased competition, driving down prices and squeezing margins. As AI enables new entrants to offer competitive products at lower costs or provides existing competitors with improved efficiencies, Alfa Laval may face pressure to innovate continuously, optimize operations, and manage costs effectively to maintain profitability.
In conclusion, while AI represents a potential threat to Alfa Laval’s products, services, and competitive positioning, the company’s established market presence and ability to evolve will be crucial in navigating these challenges. Embracing AI as a tool for enhancing offerings and improving operational efficiencies could also present new opportunities for the company.

The sensitivity of Alfa Laval’s earnings, cash flow, and valuation to changes in interest rates can be analyzed through several factors:
1. Debt Levels: If Alfa Laval carries a significant amount of debt, fluctuations in interest rates can affect its interest expenses. An increase in rates would lead to higher interest payments, which could reduce net earnings and cash flow. Conversely, a decrease in rates could lower these costs, improving profitability.
2. Cost of Capital: Changes in interest rates impact the company’s cost of capital. A rise in rates increases the cost of equity and debt financing, making it more expensive for Alfa Laval to invest in new projects or expand operations. This can negatively impact growth prospects and, in turn, affect valuation.
3. Discount Rate: For valuation purposes, higher interest rates often lead to higher discount rates used in discounted cash flow models. This results in a lower present value of future cash flows, leading to a decrease in valuation. Conversely, lower rates would have the opposite effect.
4. Consumer and Business Spending: Interest rates influence overall economic activity. Higher rates can lead to reduced consumer spending and business investment due to higher borrowing costs. If Alfa Laval’s customers are impacted in this manner, it could lead to lower demand for its products and services, directly affecting earnings and cash flow.
5. Currency Fluctuations: Higher interest rates can strengthen the local currency, potentially impacting Alfa Laval’s competitiveness in international markets. A stronger currency can lead to reduced export sales, affecting revenues and cash flow.
Consequently, while precise estimates of sensitivity would require detailed financial analysis and modeling, the company’s financial health and performance can be significantly influenced by changes in interest rates through these various channels.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgQW xmYSBMYXZh bOKAmXMgZW Nvbm9taWNz IG92ZXIgdG hlIG5leHQg MyB0byA1IH llYXJzIGlu dm9sdmVzIG Egc2lnbmlm aWNhbnQgZG VjbGluZSBp biBkZW1hbm QgZm9yIGl0 cyBjb3JlIH Byb2R1Y3Rz IGR1ZSB0by BhIHJhcGlk IHNoaWZ0IH Rvd2FyZHMg YWx0ZXJuYX RpdmUgdGVj aG5vbG9naW VzIGFuZCBz dXN0YWluYW JsZSBzb2x1 dGlvbnMsIH BhcnRpY3Vs YXJseSBpbi BpbmR1c3Ry aWVzIGxpa2 UgZm9vZCBw cm9jZXNzaW 5nLCBlbmVy Z3ksIGFuZC BlbnZpcm9u bWVudGFsIH NlY3RvcnMu PGJyPk9uZS Bwb3RlbnRp YWwgY2F0YW x5c3QgZm9y IHRoaXMgc2 NlbmFyaW8g Y291bGQgYm UgdGhlIHdp ZGVzcHJlYW QgYWRvcHRp b24gb2Ygbm V3IHRlY2hu b2xvZ2llcy B0aGF0IGlt cHJvdmUgZW ZmaWNpZW5j eSBvciByZW R1Y2UgZGVw ZW5kZW5jZS BvbiB0cmFk aXRpb25hbC BzZXBhcmF0 aW9uIGFuZC BoZWF0IGV4 Y2hhbmdlIH NvbHV0aW9u cy4gRm9yIG luc3RhbmNl LCB0aGUgZW 1lcmdlbmNl IG9mIGFkdm FuY2VkIGJp b3RlY2hub2 xvZ3kgb3Ig bmV3IG1hdG VyaWFscyB0 aGF0IHByb3 ZpZGUgYmV0 dGVyIHBlcm Zvcm1hbmNl IGFuZCBsb3 dlciBvcGVy YXRpb25hbC Bjb3N0cyBj b3VsZCBsZW FkIHRvIHJl ZHVjZWQgZG VtYW5kIGZv ciBBbGZhIE xhdmFs4oCZ cyBleGlzdG luZyBwcm9k dWN0IGxpbm VzLiBJZiBr ZXkgY2xpZW 50cyBiZWdp biB0byB0cm Fuc2l0aW9u IHRvIHRoZX NlIGFsdGVy bmF0aXZlIH RlY2hub2xv Z2llcywgQW xmYSBMYXZh bCBtaWdodC BzZWUgYSBz aWduaWZpY2 FudCBkcm9w IGluIG9yZG Vycy48YnI+ QWRkaXRpb2 5hbGx5LCBy ZWd1bGF0b3 J5IGNoYW5n ZXMgdGhhdC BpbmNlbnRp dml6ZSB0aG UgYWRvcHRp b24gb2YgZ3 JlZW5lciB0 ZWNobm9sb2 dpZXMgb3Ig aW1wb3NlIH N0cmljdCBw ZW5hbHRpZX Mgb24gdHJh ZGl0aW9uYW wgbWFudWZh Y3R1cmluZy BhbmQgcHJv Y2Vzc2luZy BtZXRob2Rz IGNvdWxkIG Z1cnRoZXIg YWNjZWxlcm F0ZSB0aGlz IHNoaWZ0Li BUaGVzZSBy ZWd1bGF0aW 9ucyBtaWdo dCBmb3JjZS BleGlzdGlu ZyBjbGllbn RzIHRvIGlu dmVzdCBoZW F2aWx5IGlu IHVwZGF0aW 5nIHRoZWly IHN5c3RlbX MsIGRpdmVy dGluZyBmdW 5kcyBhd2F5 IGZyb20gQW xmYSBMYXZh bOKAmXMgcH JvZHVjdHMu PGJyPklmIH RoaXMgc2Nl bmFyaW8gbW F0ZXJpYWxp emVzLCB0aG UgY29tcGFu eeKAmXMgbW FyZ2lucyBj b3VsZCBiZS BhZHZlcnNl bHkgYWZmZW N0ZWQuIEEg ZGVjbGluZS BpbiBkZW1h bmQgd291bG QgbGlrZWx5 IHJlc3VsdC BpbiBleGNl c3MgcHJvZH VjdGlvbiBj YXBhY2l0eS wgbGVhZGlu ZyB0byBwcm ljZSBjb21w ZXRpdGlvbi BhbmQgYSBy ZWR1Y3Rpb2 4gaW4gZ3Jv c3MgbWFyZ2 lucy4gQXMg bWFyZ2lucy BzaHJpbmss IHRoZSBjb2 1wYW554oCZ cyBhYmlsaX R5IHRvIGdl bmVyYXRlIG Nhc2ggZmxv dyB3b3VsZC BhbHNvIGxp a2VseSBkaW 1pbmlzaC4g V2l0aCBkZW NsaW5pbmcg cmV2ZW51ZX MgYW5kIHBv dGVudGlhbC BpbmNyZWFz ZWQgb3Blcm F0aW9uYWwg Y29zdHMgYX MgdGhlIGNv bXBhbnkgdH JpZXMgdG8g aW5ub3ZhdG UgYW5kIHJl c3BvbmQgdG 8gbWFya2V0 IGNoYW5nZX MsIGNhc2gg ZmxvdyBjb3 VsZCB0dXJu IG5lZ2F0aX ZlLCBpbXBh Y3RpbmcgdG hlIGNvbXBh bnnigJlzIG FiaWxpdHkg dG8gZnVuZC BpdHMgb3Bl cmF0aW9ucy BhbmQgaW52 ZXN0bWVudH MuPGJyPklu IHRlcm1zIG 9mIHRoZSBi YWxhbmNlIH NoZWV0LCBh IGRlY3JlYX NlIGluIGNh c2ggZmxvdy B3b3VsZCBs ZWFkIHRvIG hpZ2hlciBs ZXZlbHMgb2 YgZGVidCBh cyB0aGUgY2 9tcGFueSBt YXkgbmVlZC B0byBib3Jy b3cgdG8gbW FpbnRhaW4g b3BlcmF0aW 9ucy4gQW4g aW5jcmVhc2 UgaW4gZGVi dCBjb3VsZC BldmVudHVh bGx5IHJhaX NlIGNvbmNl cm5zIGFib3 V0IHRoZSBj b21wYW554o CZcyBzb2x2 ZW5jeSwgcm VzdWx0aW5n IGluIGxvd2 VyIGNyZWRp dCByYXRpbm dzLiBBZGRp dGlvbmFsbH ksIHN0YWdu YW50IG9yIG RlY2xpbmlu ZyByZXZlbn VlcyB3b3Vs ZCBuZWdhdG l2ZWx5IGlt cGFjdCByZX RhaW5lZCBl YXJuaW5ncy wgcHV0dGlu ZyBmdXJ0aG VyIHByZXNz dXJlIG9uIH RoZSBjb21w YW554oCZcy BlcXVpdHkg cG9zaXRpb2 4uPGJyPklu IHN1bW1hcn ksIGlmIEFs ZmEgTGF2YW wgZmFjZXMg YSBwZXJtYW 5lbnQgZGVj bGluZSBpbi BkZW1hbmQg ZHVlIHRvIH RlY2hub2xv Z2ljYWwgYW R2YW5jZW1l bnRzIGFuZC ByZWd1bGF0 b3J5IGNoYW 5nZXMgdGhh dCBmYXZvci BhbHRlcm5h dGl2ZSBzb2 x1dGlvbnMs IHRoZSBjb2 1wYW55IGNv dWxkIHNlZS BkaW1pbmlz aGVkIG1hcm dpbnMsIGRl Y2xpbmluZy BjYXNoIGZs b3csIGluY3 JlYXNlZCBk ZWJ0IGxldm VscywgYW5k IHByZXNzdX JlIG9uIGl0 cyBiYWxhbm NlIHNoZWV0 LCB1bHRpbW F0ZWx5IGlt cGFpcmluZy BpdHMgbG9u Zy10ZXJtIG Vjb25vbWlj IHZpYWJpbG l0eS48YnI+

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 bG9nb3MveV ZzUm90YXVQ NVd4Y0NEVF B6QVYud2Vi cCIgYWx0PS JBbGZhIExh dmFsIiB0aX RsZT0iQWxm YSBMYXZhbC IgIGNsYXNz PSJpbWctZm x1aWQiIGhl aWdodD01MC B3aWR0aD01 MCBsb2FkaW 5nPSdsYXp5 JyBzdHlsZT 0nYm9yZGVy LXJhZGl1cz ogNnB4Oyc+ CgogICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J2ZsZX g6IDE7IHRl eHQtYWxpZ2 46IGNlbnRl cjsgbWFyZ2 luLWxlZnQ6 IDVweDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8cCBzdH lsZT0nZm9u dC1zaXplOi AyNnB4OyBj b2xvcjogIz MzMzsgbWFy Z2luLWJvdH RvbTogMTVw eDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+TiC BXYW50IHRv IHJlYWQgbW 9yZSBhYm91 dCBBbGZhIE xhdmFsPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg8J +TmiBZb3Vy IGZyZWUgY2 9weSBvZiA8 aT4iVGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrcyI8L2 k+IGlzIHdh aXRpbmcKIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9wPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PCEtLQogIC AgICAgICAg ICAgICAgIC AgICAgICA8 ZGl2IHN0eW xlPSdtYXJn aW4tdG9wOi AxMnB4OyBm b250LXNpem U6IDEzcHg7 IGNvbG9yOi AjNDQ0Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBT aWduIHVwIG 5vdyBhbmQg Z2V0IG91ci BmcmVlIGVC b29rIAogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgPGI+VG hlIENoZWNr bGlzdCBWYW x1ZSBJbnZl c3RvciDigJ QgQSBTbWFy dGVyIFdheS B0byBQaWNr IFN0b2Nrcz wvYj4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC 0tPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8IS 0tCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxkaX Ygc3R5bGU9 J21hcmdpbi 10b3A6IDE2 cHg7IGZvbn Qtc2l6ZTog MTRweDsgY2 9sb3I6ICM0 NDQ7IGZvbn QtZmFtaWx5 OiAtYXBwbG Utc3lzdGVt LCBCbGlua0 1hY1N5c3Rl bUZvbnQsIF NlZ29lIFVJ LCBSb2JvdG 8sIEhlbHZl dGljYSBOZX VlLCBzYW5z LXNlcmlmOy BsaW5lLWhl aWdodDogMS 42Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBIYXZl IHlvdSBoZW FyZCBhYm91 dCBvdXIgc2 hvcnQgPHN0 cm9uZyBzdH lsZT0nZm9u dC13ZWlnaH Q6IDYwMDsn PkRhaWx5IF ZpZGVvIE5l d3NsZXR0ZX I8L3N0cm9u Zz4/CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8YSBocm VmPSdodHRw czovL3d3dy 5pbnNpZ2h0 ZnVsdmFsdW UuY29tL25l d3NsZXR0ZX IucGhwJyB0 YXJnZXQ9J1 9ibGFuaycg c3R5bGU9J2 NvbG9yOiAj MDA3QkZGOy B0ZXh0LWRl Y29yYXRpb2 46IG5vbmU7 IGZvbnQtd2 VpZ2h0OiA1 MDA7IG1hcm dpbi1sZWZ0 OiA2cHg7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBGaW5k IG91dCBtb3 JlCiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8L2E+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICAgICAg ICAgICAgIC AtLT4KICAg ICAgICAgIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgCiAgIC AgICAgCiAg ICAgICAgPH NwYW4gY2xh c3M9J2JsdX JyZWQtdGV4 dCc+CiAgIC AgICAgICAg IE1TNGdRV3 htWVMgQk1Z WFpoYkNCMy BZWE1nWm05 MWJtIFJsWk NCcGJpQXgg T0RneklHSj VJRSBkMWMz UmhaaUJrIF pTQk1ZWFpo YkMgd2dZU0 JUZDJWayBh WE5vSUdWdV oyIGx1WldW eUxDQnAgYm 5abGJuUnZj aSB3Z1lXNW tJR1Z1IGRI SmxjSEpsYm 0gVjFjaTRn U0dVZyBhWE 1nWW1WemRD IEJyYm05M2 JpQm0gYjNJ Z2FHbHpJRy BsdWRtVnVk R2x2IGJpQn ZaaUIwYUcg VWdZMlZ1ZE hKcCBablZu WVd3Z1kzIE psWVcwZ2My VncgWVhKaG RHOXlMQyBC M2FHbGphQ0 J5IFpYWnZi SFYwYVcgOX VhWHBsWkNC MCBhR1VnWk dGcGNuIGtn YVc1a2RYTj AgY25rdVBH SnlQaiBJdU lFRnNabUVn IFRHRjJZV3 ppZ0ogbHpJ R1pwY25OMC BJRzFoYW05 eUlHIEp5Wl dGcmRHaHkg YjNWbmFDQm pZVyAxbElH bHVJREU0IE 9EZ2dkMmhs YmkgQjBhR1 VnWTI5dCBj R0Z1ZVNCM2 IyIDRnWVNC bmIyeGsgSU cxbFpHRnNJ RyBadmNpQn BkSE1nIFky VnVkSEpwWm 4gVm5ZV3dn YzJWdyBZWE poZEc5eUlH IEYwSUhSb1 pTQlggYjNK c1pDQkdZVy BseUlHbHVJ RkJoIGNtbH pMaUJVYUcg bHpJR05oZE dGdyBkV3gw WldRZ2RHIG hsSUdOdmJY QmggYm5rZ2 RHOGdkMiA5 eWJHUjNhV1 JsIElISmxZ MjluYm0gbD BhVzl1SUdG dSBaQ0J6ZF dOalpYIE56 TGp4aWNqNH ogTGlCVWFH VWdibSBGdF pTQkJiR1po IElFeGhkbU ZzSUcgTnZi V1Z6SUdaeS BiMjBnZEdo bElHIE52Yl dKcGJtRjAg YVc5dUlHOW 1JSCBSb1pT QnNaWFIwIF pYSWdRU0Fv Wm0gOXlJSF JvWlNCbSBh WEp6ZENCcG JtIGwwYVdG c0lHOW0gSU hSb1pTQm1i MyBWdVpHVn k0b0NaIGN5 QnVZVzFsTE MgQkhkWE4w WVdZZyBaR1 VnVEdGMllX IHdwSUdGdV pDQjAgYUdV Z1RHRjBhVy A0Z2QyOXla Q0JzIFlYWm hiQ0IzYUcg bGphQ0J0Wl dGdSBjeUIz WVhOb2FXID VuTGp4aWNq NDAgTGlCSm JpQjBhRyBV Z1pXRnliSG tnIE1Ua3dN SE1zSUUgRn NabUVnVEdG MiBZV3dnWl hod1lXIDVr WldRZ2FYUn ogSUhCeWIy UjFZMyBRZ2 NtRnVaMlVn IGRHOGdhVz VqYkggVmta U0JvWldGMC BhVzVuSUdG dVpDIEJqYj I5c2FXNW4g SUhONWMzUm xiWCBNc0lH MWhjbWx1IF pTQmhibVFn WkcgbGxjMl ZzSUdWdSBa Mmx1WlhNc0 lHIEZ1WkNC aWIybHMgWl hJZ1pYRjFh WCBCdFpXNT BMaUJVIGFH bHpJR1JwZG 0gVnljMmxt YVdOaCBkR2 x2YmlCaGJH IHh2ZDJWa0 lIUm8gWlNC amIyMXdZVy A1NUlIUnZJ SFJvIGNtbD JaU0JoYm0g UWdZbVZqYj IxbCBJRzl1 WlNCdlppIE IwYUdVZ2Qy OXkgYkdUaW dKbHpJRyB4 bFlXUnBibW NnIGMzVndj R3hwWlggSn pJRzltSUds dSBaSFZ6ZE hKcFlXIHdn WlhGMWFYQn QgWlc1MExq eGljaiA0MU xpQkJiR1po IElFeGhkbU ZzSUggZGhj eUIwYUdVZy BabWx5YzNR Z1kyIDl0Y0 dGdWVTQnAg YmlCMGFHVW dkMiA5eWJH UWdkRzhnIF pHVjJaV3h2 Y0MgQmhJSE JzWVhSbCBJ R2hsWVhRZ1 pYIGhqYUdG dVoyVnkgTG lCVWFHbHpJ RyBsdWJtOT JZWFJwIGIy NGdhR0Z6SU cgSmxZMjl0 WlNCaCBJR0 52Y201bGNu IE4wYjI1bE lHOW0gSUhS b1pTQmpiMi Axd1lXNTVJ R0Z1IFpDQn BjeUJ6ZEcg bHNiQ0J2Ym 1VZyBiMlln ZEdobGFYIE lnYlc5emRD QnogZFdOal pYTnpabiBW c0lIQnliMl IxIFkzUnpM anhpY2ogND JMaUJFZFhK cCBibWNnVj I5eWJHIFFn VjJGeUlFbE ogTENCQmJH WmhJRSB4aG RtRnNJR1Js IGRtVnNiM0 JsWkMgQmhi bVFnYzNWdy BjR3hwWldR Z1lXIFIyWV c1alpXUWcg Wm1sc2RISm hkRyBsdmJp QmhibVFnIG NIVnlhV1pw WTIgRjBhVz l1SUhONSBj M1JsYlhNZ1 ptIDl5SUdO b1pXMXAgWT JGc0lIZGhj bSBaaGNtVW djSEp2IGRH VmpkR2x2Ym kgQjBieUJp YjNSbyBJSF JvWlNCQmJH IHhwWlhNZ1 lXNWsgSUhS b1pTQkJlRy BseklIQnZk MlZ5IGN5ND hZbkkrTnkg NGdTVzRnZE dobCBJREU1 TlRCekxDIE JCYkdaaElF eGggZG1Gc0 lHSmxaMiBG dUlHbHVkbV Z6IGRHbHVa eUJwYmkgQj BhR1VnWkdW MiBaV3h2Y0 cxbGJuIFFn YjJZZ2MyVn cgWVhKaGRH bHZiaSBCMF pXTm9ibTlz IGIyZDVJR1 p2Y2kgQjBh R1VnY0doaC BjbTFoWTJW MWRHIGxqWV d3Z1lXNWsg SUdadmIyUW dhVyA1a2RY TjBjbWxsIG N5NGdWRzlr WVgga3NJSF JvWlNCaiBi MjF3WVc1NT RvIENaY3lC elpYQmggY2 1GMGFXOXVJ SCBSbFkyaH ViMnh2IFoz a2dhWE1nZF ggTmxaQ0Jw YmlCaCBJSG RwWkdVZ2Nt IEZ1WjJVZ2 IyWWcgYVc1 a2RYTjBjbS BsbGN5QnBi bU5zIGRXUn BibWNnWW0g bHZkR1ZqYU N3ZyBabTl2 WkNCaGJtIF FnWW1WMlpY SmggWjJVc0 lHRnVaQyBC amFHVnRhV0 5oIGJDQndj bTlqWlggTn phVzVuTGp4 aSBjajQ0TG lCQmJHIFpo SUV4aGRtRn MgSUdoaGN5 QmlaVyBWdU lHRjBJSFJv IFpTQm1iM0 psWm4gSnZi blFnYjJZZy BjM1Z6ZEdG cGJtIEZpYk dVZ1lXNWsg SUdWdVpYSm 5lUyAxbFpt WnBZMmxsIG JuUWdjMjlz ZFggUnBiMj V6SUhOcCBi bU5sSUhSb1 pTIEF4T1Rj d2N5NGcgVk dobGVTQjNa WCBKbElHOX VaU0J2IFpp QjBhR1VnWm 0gbHljM1Fn WTI5dCBjR0 Z1YVdWeklI IFJ2SUdSbG RtVnMgYjNB Z2FHVmhkQy BCbGVHTm9Z VzVuIFpYSn pJR1p2Y2kg QjNZWE4wWl NCbyBaV0Yw SUhKbFkyID kyWlhKNUlH RnUgWkNCb1 lYWmxJRyBO dmJuUnBibl Z2IGRYTnNl U0JwYlggQn liM1psWkNC MCBhR1ZwY2 lCd2NtIDlr ZFdOMGN5Qj AgYnlCeVpX UjFZMiBVZ1 pXNWxjbWQ1 IElHTnZibk 4xYlggQjBh Vzl1SUdGdS BaQ0JsYm5a cGNtIDl1Yl dWdWRHRnMg SUdsdGNHRm pkQyA0OFlu SStPUzRnIF ZHaGxJR052 YlggQmhibm tnYUdGeiBJ R0VnYzNSeW IyIDVuSUdk c2IySmggYk NCd2NtVnpa VyA1alpTQj NhWFJvIElH OXdaWEpoZE cgbHZibk1n YVc0ZyBiM1 psY2lBeE1E IEFnWTI5MW JuUnkgYVdW eklHRnVaQy BCellXeGxj eUJ2IFptWn BZMlZ6SUcg bHVJRFV3SU dOdiBkVzUw Y21sbGN5ID RnU1hSeklH MWggYVc0Z2 JXRnVkVyBa aFkzUjFjbW x1IFp5Qm1Z V05wYkcgbD BhV1Z6SUdG eSBaU0JzYj JOaGRHIFZr SUdsdUlGTj MgWldSbGJp d2dSRyBWdW JXRnlheXdn IFNXNWthV0 VzSUcgRnVa Q0JEYUdsdS BZUzQ4WW5J K01UIEF1SU VGc1ptRWcg VEdGMllXem lnSiBseklI QnliMlIxIF kzUnpJR0Z1 WkMgQnpiMn gxZEdsdiBi bk1nWVhKbE lIIFZ6WldR Z2FXNGcgWV NCMllYSnBa WCBSNUlHOW 1JR0Z3IGNH eHBZMkYwYV cgOXVjeXdn YVc1aiBiSF ZrYVc1bklH IFp2YjJRZ1 lXNWsgSUdK bGRtVnlZVy BkbElIQnli Mk5sIGMzTn BibWNzSUcg VnVaWEpuZV NCdyBjbTlr ZFdOMGFXID l1TENCdFlY SnAgYm1VZ1 lXNWtJRyA5 bVpuTm9iM0 psIExDQmhi bVFnZDIgRj BaWElnWVc1 ayBJSGRoYz NSbGQyIEYw WlhJZ2RISm wgWVhSdFpX NTBMaSBCSm RDQnBjeUJs IGMzUnBiV0 YwWlcgUWdk R2hoZENCaC BjbTkxYm1R Z01qIFVsSU c5bUlIUm8g WlNCM2IzSn NaTyBLQW1Y TWdabTl2IF pDQnpkWEJ3 Ykgga2dhWE 1nY0hKdiBZ MlZ6YzJWa0 lIIFZ6YVc1 bklFRnMgWm 1FZ1RHRjJZ VyB3Z1pYRj FhWEJ0IFpX NTBMZz09Ci AgICAgICAg PC9zcGFuPg ogICAgICAg IAogICAgIC AgIA==