!

"

# $'&)(+*-,/. )021436587:9;<7/=!;?>@>6>A;B7DCFE;B7DCGCIHJ3LKJM/NPOQ5ROTSD3UOTV:5W36XD36YFN+V)MD5Z3\[^]\363 _`OTVAXacbDd:e+fgYGMhSD3

%
5jiJkh5lkhmMDVAXn5Wi)3o/p_`Orqs36YG36VJ]\3 Nlt^uZvw7^uyxz9|{}7:uL~€v‚a/ƒGb:ƒ6„6„6„ ƒjo/p`†NjMDm3Sckˆ‡Q‰A3m‰Nj58M]6]\‰AYŠkh5
‡T3 kDNj5!ac‹5POTm3 N6e
& *ŒŽ‘&J’ 0“8iA3Nj‰Am”Mh•+5jiA3lo/p_`Orqs36YG36VJ]\3 N†t u O–N7 CGC {—7 9!˜ acbhoAe+™š•+VAMSckˆ‡Q‰A3khmMDVAX5jiA3t uR› N
J
M]6]\‰AYGYG3 _mMDYG385WiJkhVœ%5ROQm3 N6D5Wi^O–N8Nj‰Am‚ž8MD‰^‡–_nHJ3Ikh5+‡T3 kDNj58œŸ>Ga¡¢œŸ>WbgœŸ>RpgœŸ>šoZ £+>RdUv¤acbDd:
]\MDV:5WYFkD_`O¥]F5POTVAX5jiA3khHJMhSD3‰AKAK36Y|HMD‰AVJ_4e+¦L36VJ]\3NjMDm3ISckˆ‡T‰A3!m‰JNj5ZM:]6]F‰)Y†kh58‡Q3‘kDNj5%ac‹n5ROTm3‘N6e
#%$'&)(+*-,/. § ”
0 ¨`‰AKAKM/Nj3|©O–NŸk%YG3‘kˆ‡AKM/NPOT5POTSD3l]\MDV:5ROTV:‰AMD‰N•-‰AVJ]\5POTMDVMDVª«žOT5Wi¬Ÿ­ ¯ © ~€°s€t`°±v¤a/e
® ­
14365‹²;‚³;´a/+khVJ_—Nj‰AK)KJM/Nj3 µ¶7)ƒF·j¸+O¥NkhV²OTV:5j36YGSckˆ‡|Mh•l¹º¥»Aº¥¹n¼D½8½T¾6»/¿ÁÀ-ž8OQ5Wi?¬+à ©4R~ °Rt/°Bv”³Ze
¨/iAMhžÅ5jiJkh5I©4~R7:8v¤©¯~j·FGe Ä

& *ŒŽ‘&J’ 0 1¯365¢‹; ³Æ; a/khV_¤Nj‰)KAKJM/Nj3<µ¶7)ƒ\·W¸%O–N khVBOTV:5W36YGSckˆ‡Çjȹnº¥»Aº¥¹¼D½½Q¾6»/¿DÀÂށOT5Wi

J
x
¬+à ©4~R°Rt/°ÉvʳŸe˨`iAMcž´5WiJkh5©¯~€7^ vÊ©¯~W·\Ìe14365ÍÎ~€Ï^v ¬gÐ Ã ® Ä ©4~R°Rt/°4eÒџÓÔi:Ó/KMD5WiA3 NPO–N6
Ä
ÍÎ~€7^ZvųŸkhV_H:Ól5jiA3•-‰AVJ_Akhm36V:5Gkˆ‡/5WiA36MDYG36mÒMh•"]@kˆ‡¥]F‰^‡T‰JNŸž83|iÐ k SD3|Í!Õ¥~R7:gv¤©4~j·F/{©¯~R7:Ge|“8i:‰JN6
OT5Nj‰:Ö]\3 N85jMªNji)Mcž?5jiJkh5Í Õ ~€7^Zvˋ:eL¨DOTVJ]\3©¢O–N]\MDV:5ROTV:‰AMD‰N6:VAMDVAVA36X/kh5POTSD3ŠkhV_OTV:5j36XDYFkhH:‡T3MhSD3@Y
~G{×Ń\×<GØÍÎ~€Ï^8O–N]\MDV:5ROQV‰)MD‰JN6VAMDVAVA36X/kh5POTSD3khVJ_Ù5W36VJ_)NI5WM Ú636YGMkDN!°²Û Ü!×Åe“8iA3!•-‰)VJ]\5ROTMDV
ÍÎ~€Ï^Š5jiA36YG3\•-MDYG3kh5j5ÌkˆOTVNkÙÝJV:OT5j3mkˆ[/OTm‰AmÆSckˆ‡T‰A3ßÞ kh5NjMDm3KMhOTV:5@eԙš•ž83]6khVÅNjiAMhžà5WiJkh5
5jiA3 mkˆ[/OQm‰)máÞ O–Nkh5j5ÌkˆOQVA3 _¤kh55jiA3 KMhOTV:5ªÏâvÊ7ãOT5•-Mh‡ä‡TMhž†Nª5WiJkh5ÍlÕQ~R7: vå‹kDN_:3 NPOTYG3 _4e
“MßKAYGMhSD35ji:O–N68Nj‰AK)KJM/Nj3n5WiJkh5ÍÎ~R7:O¥NV)MD55WiA3mkˆ[/OTm‰AmæSckˆ‡T‰)3Mh•Íe²“8iA36VÔ5Wi)3@YG33\[/O¥Nj5ÌNk
V:‰AmHJ36YIÏcçNj‰J]èiß5jiJkh5lÍÎ~€ÏhçhéÒÍ~R7:Ge¨/365W5POTVAX²ê!~RÏ:v«¬ Ð ©¯~€°s€t`°4+ž83niJk SD3ê!~RÏcçÁIvɋkhVJ_
ê!~€Ïhç8<·Ÿ{—7:Ÿv¤Í~RÏhçhZéÅÍÎ~€7^ÌeU¨DOTVJ]\3©O–N]\MDV:5POTV:‰AMD‰JN6:NjÐWMë O–N!êAkhVJ_5Wi)3OTV:5j36YGm3 _`O–kh5j3lSckˆ‡Q‰A3
5jiA36MDYG3@m«OTmK:‡äOT3 NL5Wikh5@^•-MDY|NjMDm3Ï 9Iì ~RÏhç/ƒGÏhçŸ}·¡{7^̝¯êl~RÏ 9 ZvÅÍÎ~€7^Zv?³Ze¨DOTVJ]\35jiA3%OTV:5W36YGSckˆ‡
µíÏcçDƒGÏ 9 ¸ŸiJkDN%‡T36VAXD5jiË;”~j·†{Å7^5Wi^O–N]FMDV:5jYFkD_`O–]\5GN!5WiA3kDNGNj‰AmKA5POTMDV²5Wikh5µ¶7)ƒF·j¸8O–NnkhV—OQV5j36YGSckˆ‡|Mh•
mOTV^OTmkˆ‡‡T36VAXD5Wi žOT5ji²¬Zà ©¯~R°€t`° v?³ZeŸ¦L3@V]F3!5jiA3Š]臖kˆOQm”O–NLKAYGMhSD3 _4e
Ä
ñ
#%$'&)(+*-,/.Æî 0‚ïgSckˆ‡T‰Jkh5j3|5jiA3gOTV:ÝJV^OT5W3LKAYGM_^‰J]\5+ð ­ñFò 9 ]\M/N\~€°)b ® GeŸ~€¦OTV:56ó+NPOTV†bD³ãv¤b+NPOTVI³]\M/NA³Ÿeä
&J*ŒŽ‘&J’ 0}“iA3OTV^ÝJV:OT5j3KAYGM:_:‰J]\5LO–N6¡H:Óß_:3\ÝJV:OT5POTMDV"5Wi)3‡rOTmOT5Mh•85Wi)3KkhYG5RO–kˆ‡ŸKAYGM_:‰]F5GN!ô+õ v
õ ñ
ð Fñ ò 9 ]\M/N\~€°)b ® GkDNŸö Û ×Åe¡™š•"°vŋ5ji:O–Ng‡rOTmOT5ŸO–NLa/e¡™€•Ø°v? ÷ ‹:D5Wi)3@V5jiA3IXhOTSD36VO–_:36V:5POT5RÓÓDOT3\‡–_)N
õ ñx 9
ø PN OTV~R°Ab ® ¡ NPOTVI°
ôgõnv ñ v õb NPOQV"~R°Ab õ
Fñ ò 9 + b NPOTV4~R°Ab ® ®

š~ KAYGMcSÁO–_:3 _öªO–NŸ‡¥khYGXD3†36VAMD‰)XDiNjM5jiJkh5ù°)b ® õ O–N8V)MD5Zk!m‰:‡T5POTK:‡T3IMh•ØúGe8¨DOTV]F3D:H:Ó!‡ › ¦LMDK:OT5Gkˆ‡ › NLYG‰:‡Q3'

‡äOTm ~RNPOTV†Ï^WücÏývþa/¡ž83iJkˆSD3‡rOTm õ b õ NPOQV4~€°)b ® õ v °4e²¦L36VJ]\35Wi)3Sckˆ‡T‰A3Mh•†5jiA3XhOTSD36V
KAYGM:ÐF_:û ‰J]\­ 5ŸO–N‡äOTm õ ôgõnvË~€NPOQV†°jüc°Oä•8û °­ v?
÷ ‹:e
û­
#%$'&)(+*-,/. ÿ 0”1436
5 v ‹D‹D‹D‹D‹D‹D‹:ƒÌ‹D‹D‹D‹D‹D‹`a/ƒ6„6„6„Fƒ\aDaDaDaDaDaDa IH35Wi)3ŠNj3658Mh•zkˆ‡r‡ØH:OTVkhYGÓªNj3 Á‰A36VJ]\3‘N
Mh•8‡T36VAXD5jiÅ£/e “iA3   6ŽA’D, Mh•|5Rž8M 3\‡T36m36V:5G N  9 ƒ  = ì <O–NÎ5Wi)3V:‰AmH36Y†Mh•IK:‡–kD]\3 N%OTVԞ|i:O–]èi
 9 khVJ _  = _`Oäq436Y  e AMDYI3\[^khmK:‡T3D4‹D‹D‹`ac‹`aDakhVJ_²ac‹D‹`ac‹`ac‹ªiJk SD3_O–Nj5ÌkhV]F3b:"NPOTVJ]\3n5WiA36Óß_`Orqs36YIOTV
KM/NPOT5ROQMDVJNakhVJ_±£/e¨/i)McžË5jiJkh5LOä • ?O¥NlkNj‰)HJNj365|Mh • <iJkˆSDOTV)XmMDYG35jiJkhV—a ª3F‡Q3@m3@V:5GNL5WiA36 V 
]\MDV:5ÌkˆOTVN85Rž8Mn3F‡Q3@m3@V:5GN8žLiAM/Nj3l_`O–Nj5GkhVJ]\3%O–NIkh5|mM/Nj58b:e

 ì ´ž83¢]6khVÅkDNGNjM]èO–kh5j3k²Nj365 

& *ŒŽ‘&J’ 0 <OT5jiÅ3 kD]Gi<3\‡T36m36V:5
J Ò]\MDVJNPO–Nj5POTVAX—Mh•l5jiA3


3\‡T36m36V:5 ŸOT5ÌNj3\‡ä•|khVJ_5Wi)3£!3F‡Q3@m3@V:5GN8Mh• —5jiJkh5†khYG3MDH)5ÌkˆOTV)3‘_H:ÓNjž8OQ5Ì]èi:OTVAX3\[AkD]F5P‡TÓ MDVA3%Mh•z5jiA3
_`OTXhOQ5ÌNÎMh• Fe™š•|5jiA3_`O–Nj5GkhVJ]\3H365Rž8363@V—khV:Óß5Pž8M3\‡T36m36V:5ÌN%Mh• Ҟ836YG3kh5%‡T3 kDNj55WiAYG363D5WiA36V—5jiA3
  
         !  
Nj365ÌN ž8MD‰:‡–_ HJ3 _`O–N jMhOQV568khVJ_ ž83ž8MD‰:‡–_ iJkˆSD3 ~ Ø_:36VAMD5POTVAX²5jiA3]6khYF_`OTVkˆ‡äOT5RÓ<Mh•kNj365 %
Av  4khVJ_Ù5Wi)3@YG3\•-MDYG3  ˜ íü vwb hü vÒa :e“8i:‰JN6^Oä•  Jéa :¯5WiA36YG3
m‰JNj5+H3l5Pž8M3\‡T36m36V:5ÌNùOT V ?ž|i)M/Nj3l_`O–Nj5GkhVJ]\3O¥N†kh5LmM/Nj58b:e
#%$'&)(+*-,/. " 0 1¯365†7Aƒ\·6ƒ$#%H3lYG3 kˆ‡"V:‰AmHJ36YFN8éâa/AkhVJ_‡Q3@5

²v<‡TMDX ·%Ÿ # ²‡TMDX à 6# 7%²‡TMDX&A7:·6ƒ

Ä
ž|i)3@YG3n‡TMDX °Ô_:36VAMD5j3 N!5WiA3HJkDNj3·l‡QMDX/khYjOT5Wi)m Mh•U°4eOTV_4¡ž8OT5ji<KAYGM`Mh•W¡5WiA3Njmkˆ‡ä‡T3 Nj5!KJM/NGNPOTH^‡T3
Sckˆ‡T‰)3Mh• 8eÃ
'
& *ŒŽ‘&J’ 0¨/365j5ROTV)X
J
khVJ_5jiA3lNj‰)m ²HJ3 ]\MDm3 N ²v
 (

-, /.- 0., , . 1,. * ) - - #   $ ( + )
v<‡TMDX|7A «v<‡TMDXI·6 v<‡TMDX h:ž83lik SD3 !ƒ ƒ Òéŋ~€NPOQVJ]\37Aƒ\·@ƒ !éËaD
32
„:џÓ5Wi)3lkhYjOT5jiAm365RO¥] šXD36MDm365jYjO–]Lm3 khV
% #
OTVA3 Á‰Jkˆ‡äOT5RÓD45ji:O–NINj‰Am«O–N
9%<>=
( >8?
) >9)Å>8<>8<>8(
 5476 Å >8 >8Ë( >8Ë( >9?) >8);: v :„


¦L36VJ]\3? :eŸ“8iA3!3\[^khmK:‡Q3@?  vAÉ( v/Ë) v aŠNjiAMhž†NŸ5jiJkh5|5ji:O–NUHJMD‰AV_nO–NIkh5W5GkˆOTVA3 _44NjM O¥N|5jiA3

Njmkˆ‡ä‡Q3‘Nj5LKJM/NGNPOQH:‡T3!Sckˆ‡T‰A3Mh• ùe
#%$'&)(+*-,/. ¯0 ¨/‰)KAKJM/Nj3‹ ˜ ;Òa/"³Ÿƒ%B B é ‹:khVJ_0–C ³E D éFCGB/D e1¯3@5I8 H ~R³Ÿƒ$BKJ hHJ3n5Wi)3‡T3 kDNj5
KM/NPOT5ROQSD3OQV5j36XD36Ylö—Nj‰J]èi 5WiJkh5C¥ö4³Ù +D¢vL ÷ C¥ö*B +D/e OTVJ_±khVß3\[K^‡äO–]èOT5!•-MDYGm‰:‡–kŠ•-MDY@H8~R³Ÿƒ%BMJ h
‰JNPOTV)X5jiA3ONM/MDY|khVJ_]\3FOr‡äOTVAX•-‰AVJ]\5POTMDVJN6e8~R“8i)3PJ N M/MDY•-‰AVJ]\5POTMDV/¥C °QÎD _^3@V)MD5W3 N8XDYG3 kh5j3 Nj5ŸOTV:5W36XD36Y ˜ °
khVJ_5Wi)3Š]\3\Oä‡äOTV)X•-‰AV]F5POTMDV/¥R °QS _:36VAMD5j3‘N5Wi)3‡T3 kDNj5LOTV:5j3@XD36YIÅ °4er
&J*ŒŽ‘&J’ 0Ë143657ãv ¥C ³*/D ƒ\·v C B/D M± T v ³ {<7AMBU vV±B {?·@eߓiA36Vý7 éæ·khVJ_¥C ö4³² +ßD v
ö47%WC¥ö*TL +D/ C¥ö*B +Dlv¤ö·¡WC¥öUn +D/JkhVJ_5Wi:‰JN

¥C ö4³ +D{C¥ö*B +DvÅö~€7Î{Ô·F"C¥ö*TI +D{C–öUn +D/„

¨DOTV]F37}é´·khVJ_C¥öU +D ˜ C¥ö +D ˜ ö¡+5jiA3YjOTXDi:5>2šiJkhVJ_²NPO–_^3O–N;2‹•-MDYn36SD3@YGÓ±KJM/NPOQ5ROTSD3
OTV:5j3@XD36Yö¡"khVJ_ éw‹ªO䕆khVJ_ MDV^‡TÓOä•|3\OT5jiA36Y~O-l7XÒ·ŸýbMDY~-OrO-l7 v«·ZBaªkhV_²~Rkh5I‡T3 kDNj5FIMDVA3
Mh•|5jiA3]FMDV_`OT5POTMDVJNö*%
Y ~€³Ÿƒ%BMJ hŸv?a/e+™RV 5jiAT 3lNj3 ']\MD«VJ_a]@khkDVJNj_²3D öU ;‚ö iAMh‡–_)N6e™RV²5WiA3nÝJYFNj5!]@kDNj3nž83iJkˆSD3MDH:SÁOTMD‰JNP‡TÓ
H ~€³Ÿƒ%BMJ hŸv<mOTV  öX? aló/ö*LT I? a!MDY†öU !;<ö


v<mOTVZO[
T \ a†{^U`_ Ôa8a
ƒ*]
a†{  

v<mOTVZO[ ƒ*]
B WC BD _ <a8—a „
aI{  
³±{1¥C ³ED \ a†{?
 

         "!#

!$ %&"' (!

)+*-,/.103254 76 8:9<;=?>A@BA9<C7BA9 DE9GF?;H ;EI7BA9<9JLKNM'KN;OF?P7QRS9<BTKNFURSHVDE9WYX?Z$[\KN;EI]=_^`@Tacb?d 8:9<;

=?>A@\e_@f>g=Ohji<k7ldnmpoYHfqNPSH';E9iGk/la_lkiYZLr3sVBHfqtqu=/Z:><Z7@YZ7HVDvH'RsYoV9Vd
! ,S0xwzy|{x,S} 6 89<;~z€J?9<F7sV;E9;EI79‚F?P7QRS9<B =ƒ>g@'Z„~:(;EI79‚F?P7QR79<Bi<k7l†h =?>A@ej@f>g=/Z„H'FSJ‡~:ˆ
;EI79 F?P7QRS9<BOiGk7la‡lkiYdj‰\I/9GF]~z€(h WYXVXV=aWYXL>vaŠ@H'FSJ‹~:Œh WYXVXLŽ=e]@fe‡‘=ec@fh
WYXVXL‘=eU@e’WV“a”WYX"•Y–"a”—WYXeU="a]@fgZ#DEs ;—ISH';˜ih™=Oeš@Te‹W5Z#k›h™–?ZzH'FSJ lhœWYX˜eš="a]@'d
‘‰\I79M'KNoV9<FšžsVFSJLKŸ;‘KNsVFD"sVFŒ=/Z1><Z1@9<FSDEP7BA9;EISH';OiYZ$k#Z$lr Hfqtq&KNF_;EI79OKNF?;E9GBAo'Hfq+¡¢X?£A–'¤ d¥§¦¨;r3s'qtqŸsY[vD
;EISH';©~:ˆªhjWYXLWVina_bVXVka‹WYXLW lOhjWYXLW• –ªašbVX• –˜hcWYXV«V–?d
) *-,/.103254 ¬ 6­m&HVAICSs'KŸF;®KNF;EI79"C?q¯H'F79+K¯Dvžs'qNsVBA9 J9žKN;—I/9GB+sVB°H'F7MV9sVBRƒqNP79Vd\±1BAs'oV9;EISH';sVF79"s'r
+
;EI79 DE9²žs'qNsVB°DT°sVF?;AHfKNFSD<ZLr3sVBv9 HVAICSs5D¨KŸ;‘KNoV9o'HfqNP79s'ru³/ZSH˜CSHfKNBvs'r1CSs'KNF?;ADH';vJLK¯DE;AH'FSž9²³/d
! ,S0xwzy|{x,S} 6 ´5P/C7CSs5DE9"F7sV;<d‰\I79<F(;—I79<BA99žµ5K¶DE;CSs5D¨KŸ;‘KNoV9F?P7QR79<B°D\=H'FSJ‚>DEPSAI ;EISH';vF7sCHfKNBs'r
sVB°H'F7MV9OCSs'KNF?;AD"ISHVDJLK¶DE;gH'FSž9=H'FJF/s CSHfKNB"s'rR?qNP79Cs'KNF?;gD"ISHVD"JLK¯DE;AH'FSž9>Gd·’KN;—I/sVP7;"qNs5DAD"s'r
MV9<F79<B°HfqtKN;‘¸[\9"QH ¸HVDADEP7Q 9©=¹º>GdT»s'[¼žsVFSD¨K¯Jƒ9GBvHOR?qNP79Cs'KNF?;©½O¾:DEPSAIH¿CSs'KNF?;TISHVD\;Es9žµ5K¯DE;<Z
R?¸_sVP7BHVDADEP7QC7;¨KNsVF_;EISH';;EI79<BA9 H'BA9F7s‚;‘[\s‚sVB°H'F7MV9Cs'KNF?;gDH';JLK¯DE;AH'FSž9=(r3BAsVQ 9 HVAI‹sV;EI79<B d
´VKNF°9 F/s;‘[\s‚R?qNP/9 CSs'KNF?;ADOISH oV9 JLK¯DE;AH'FSž9(>r3BAsVQ 9 HVÀI‹sV;—I79<B Z&9<oV9<BA¸_CSs'KŸF;sVF‹;EI79 AKŸB°AqŸ9s'r
B°HVJLKNPDO>˜H'BAsVP/FSJ‚½ÁQPSDE;vR9žs'qNsVBA9 J_sVB°H'F7MV9Vd(´VKNF°9=_¹Â>GZ$;EI79<BA99žµ5K¶DE;;‘[\s Cs'KNF?;gD"sVF›;—I?K¶D
ÀKNB°ÀqN9ISHfoVKŸF7M²JK¯DE;gH'F°9=+r3BAsVQ†9|HVÀIsV;EI79<B d1‰\I79 DE9T;‘[\s„Cs'KNF?;ADnH'BA9TsVB°H'F7MV9\CSs'KŸF;AD\H';nJLK¶DE;gH'FSž9=7Z
[IƒK¯AIžsVF?;—B°HVJLK¶°;AD&sVP7BnHVDADEP/QC7;¨KNsVF#d$‰\I?PSD<Z'sVF79s'r#;EI79žs'qNsVB°DpQ PDE;užsVF?;AHfKNF#ZÃr3sVBn9<oV9<BA¸CSs5D¨KŸ;‘KNoV9
JLK¯DE;AH'FSž9³7Z7HOCSHfKNBTs'ruCs'KNF?;AD©H';vJLK¯DE;AH'FSž9²³/d
) *-,/.103254 Ä 6 ÅB d·’K¯DE9<F7I79žKNQ9<B9<oYHfqŸPSH';—9 D+sVF I?K¯D"<Hfq¯žP?q¯H';EsVB„;EI799žµC7BA9 DAD¨KNsVFºÆ DŽe`ÉÈ Z:[TI79<BA9
+
=7Zu>GZ:@'ZʳH'BA9Cs5D¨KN;‘KŸoV9KŸF;E9<MV9<B°D<ZS9 HVÀI qN9 DADv;EISH'F_WYXVXVX?d‰®I79<Hfq¯žP?q¯H';EsVB„[TI?K¯ÀI K¯D+Ë5F7s'[F ;EsRS9
HV<žP7B°H';—9+;—s[\KŸ;—I?KŸF‚WYX?Ì €A€ r3sVB\9|HVÀIH'BEKŸ;—I7Q 9G;¨K¯+sVCS9<B°H';¨KNsVF#Z?M'KNoV9 DT;EI79BA9 DEP?qN;vX?ÍÏÎ5bV«VÐLÑVW Î5bV«VÐLÑ5dz¦—D
Å B d$·’K¯DE9<F7I79žKNQ9<B$ÒEPSDE;‘K¥ÓS9 J KNF BA9<CSsVBA;¨KNF7M;EI79„H'FSDE[\9<BHVD 2VÔ#Õ7Ö'y 0Ø׌ÙLÚ ÑVÛ m$µ?C?q¯HfKNFzd
! ,S0xwzy|{x,S} 68:9<;\Üh‡X?ÍÏÎ5bV«VÐLÑVW Î5bV«VÐLѐR9;EI79vJ?9 AKŸQHfq7FP/Q R9<B“JLK¶DEC?q¯Hf¸V9|JOR?¸;EI79©<Hfq¯žP?q¯H';EsVB Z7H'FSJ
Nq 9<;ÝÞhßÆ Ç ejÉ È J?9<F7sV;E9v;—I/9©F?P7QR79<B$;EsRS9<Hfq¯žP?q¯H';E9 J:Z7[TBEKN;—;E9<FHVD&H"BA9 J?PSž9 J˜r3B°HV°;¨KNsVF#dp¦‘;pK¯D&9 HVDE¸
;Es AI/9|ÀË;EISH';\;EI79WVW„JLKNM'KŸ;gDTs'ruÜHfr3;E9GBT;—I/9„J?9 ÀKNQHfqSC9<BEKNsJBA9<C7BA9 DE9<F?;1;—I/9ÓB°DE;WVWJLKNM'KN;AD®KNF;EI79
J?9 ÀKNQHfq#BA9<C7BA9 DE9<F?;gH';¨KNsVF s'r ÙLÚ Ñ5Z:DEs ;EISH';v܁JLKtà:9<B°D®r3BAsVQ ÙLÚ ÑR?¸H';vQs5DE;vWYX Ì €A€ dvávF ;EI79„sV;EI79<B
ISH'FSJZ5D¨KNFSž9;EI79„<Hfq¯žP?q¯H';EsVBIHVD\H'F9<BABAsVBns'r“H';\Qs5DE;®WYX Ì €A€ r3sVB9 HVAIH'BEKN;EI7Q9<;¨K¯vsVC9<B°H';‘KNsVF H'FSJ
;EI79°sVQ C7P7;AH';‘KNsVF(s'rŽâ ÚY㠏h`Ž= Ú >°ne”‘@ Ú ³ƒKŸFoVs'qŸoV9|D";EI7BA9<9 H'BEKŸ;—I7Q 9G;¨K¯OsVC9GB°H';¨KNsVFSD<Zz[\9Ë5F7s'[
;EISH';²Ü›Hfq¯DEsJLKtà:9<B°Dvr3BAsVQ ÙLÚ Ñ R?¸H';"Qs5DE; Ù •VWYX Ì €A€ d äT9<FSž9—åV梍 ÙLÚ ÑVne’Žâ ÚY㠏Gæ1¹Î•LWYX Ì €A€ d
´VKNF°9˜>çH'FSJ³OH'BA9Cs5D¨KN;¨KNoV9KŸF;E9<MV9<B°D<Z59 HVAI¿qN9 DAD&;—ISH'FWYX ˆ Z?;EI79J?9<F7sVQKŸFSH';—sVB ã KNFâ ÚYã K¯D\H';\Qs5DE;
WYXVè'dnäT9<FSž9" ÙLÚ ÑV7e(Žâ ÚY㠏\h‡ ÙVã eÑYâ- Ú EÑ ã nIHVDnJ?9<F7sVQ¿KNFSH';EsVBnH';\Qs5DE;&Ñn•žWYXVèvH'FSJO;—I79<BA9žr3sVBA9TK¯D
9žKN;EI79<BªX˜sVB©H';&qN9 HVDE;+W Ú —ѐ•fWYXVè'AdnäTsY[\9<oV9<B ZLR¸EåVn;EI79„DE9 žsVFSJ<HVDE9vK¯D®KNQ CSs5DAD¨KNRƒqN9VZ7DEs â ÚYã QPSDE;
R99°µ7HVž;‘qN¸(9 éVPSHfq$;—s ÙLÚ Ñ5dv‰\I?PSD<ZÅ B d\·’K¯DE9<F7I79žKNQ9<BvK¶DžsVBABA9|ž;®KNF_Aq¶HfKNQKNF7M ;—ISH';v;EI79BA9 DEP?qN;vs'r
I?K¯Dv<Hfq¯žP?q¯H';¨KNsVF(K¯DT9žµƒHVž;¨qN¸ ÙLÚ Ñ5d
 ) *-,/.103254
+ 6 89G;Ü€hœÜ7Oh`W5Z#H'FSJ(Ü
$€h`WY–V–VÜ
a”WY–V–LÑYÜ
Ì €+r3sVB²~’^¼b?dzKŸFSJ› [®KN;—I
C7BAsLs'rG1;EI79"BA9GQHfKNFSJ?9<B\s'ruÜ € P7CsVF JLKNoVK¶D¨KNsVF‚R¸ Ù d
! ,S0xwzy|{x,S} 6zKNB°DE;<Z7H'F 9 HVDE¸<Hfq¯žP?q¯H';¨KNsVFU [TI?K¯ÀI K¯DTQs5DE;\žsVFoV9<F?KŸ9GF?;¨qN¸ J?sVF79"PSD¨KNF7M°sVF/MVBAP79<FSž9|D
Qs?J?P?qNs Ù Z&;EI7sVP7MVIUsVF79<H'F Jƒs§;EI79C/BAsVR?qN9<Q [\KŸ;—I7sVP/; ;EI79PDE9s'r„°sVF/MVBAP79<FSž9|Dž„DEI/sY[vD";—ISH';
Ü € £<Í<Í<Í<£gÜ è IH oV9"BA9<QHfKNFSJ?9<B°DªW5£°W5£AX?£Ab?£Ab?£AX?Z:BA9 DECS9 ž;‘KŸoV9°qŸ¸-Zz[I/9GF‚JLKNoÃK¯J?9 J‚R?¸ Ù d"»T9°µ?;GZÊKN;—9<B°H';¨KNF7M
;EI79vBA9|žP7BABA9<FSž9\BA9žq¯H';¨KNsVF Ü
hcWY–V–VÜ
Ì €:aWY–V–LÑYÜ
Ì ®r3sVP7B&;‘KNQ 9|D<ZÃsVF79DE9G9 Dp;—IH';1r3sVBH'F?¸~(^?Z
;EI79nBA9<QHfKŸFSJ?9<B#s'rS Ü
P7CsVFJLKNoÃK¯D¨KNsVFOR¸ Ù K¯Dz;—I/9DAH'Q91HVD#;EISH';$s'rSÜ
Ì è d1 ·‹KN;EIžsVF7MVBAP79<FSž9 D<Z<;—I?K¶D
<Hfq¯žP?q¯H';¨KNsVFšH'QsVP/F;AD&;Es Ü
j Ü
Ì €\ašbVÜ
Ì  Ù  Ü
Ì TašbVÜ
Ì  ˆ ¼bV Ü
Ì 
ˆ ‡Î5 Ü
Ì è j Ü
Ì è dt
 ¸ KŸFSJ?PSž;¨KNsVF#ZzKN;"r3s'qtqŸsY[vD;EISH';„;EI79BA9<QHfKNFSJƒ9GB+s'r®Ü
(P7CSsVF_JLKŸoVK¯D¨KNsVFUR?¸ Ù K¯D"9 éVPSHfq\;Es ;—ISH';"s'r
Ü Z[I79<BA9âOK¯D+;EI79BA9<QHfKNFJ?9<B©s'r~›P7CSsVF‚JLKNoÃK¯D¨KNsVFUR ¸ ?d´VKŸFSž9WY–V–LÑISHVDvBA9<QHfKNFSJƒ9GBÐ [I79<F
Ý
JLKNoÃK¯J?9 J R?¸ ?Z7H'FSJ Ü "ISHVD&BA9<QHfKNFJ?9<Bb?Z7Ü€ IHVD\BA9<QHfKNFSJƒ9GBb˜[I79<F JLKNoÃK¯J?9 J R?¸ Ù d
) *-,/.103254  6 8:9<;\kR9H„žsVF?oV9žµr3P7FSž;‘KŸsVF[\KN;EI;‘[\sžsVF?;‘KNF?P7sVPD1J?9<BEKNoYH';¨KNoV9 D\sVF¡¢X?£gb¤ d&´5I7s'[
+

;EISH';;EI79+KNF?;—9<MVB°Hfq k:‘܏5žs5D:Ü7³5Ü K¯DTCs5D¨KN;¨KNoV9Vd

! ,S0xwzy|{x,S} 6‚´VKNF°9k(K¯D"žsVFoV9žµ:Z#kxŽÜʏ\K¯D+CSs5D¨KN;¨KNoV9sVF‹¡ÏX?£Ab¤ d¦‘F?;E9<MVB°H';‘KNF/MR?¸CSH'BA;gDT;‘[®K¯ž9VZ#[\9
sVR7;AHfKNF
  
kŽÜ5žs5D:Ü hj‘D¨KNF܏Žk‘܏"! e k  ŽÜʏÃD¨KŸF„Ü7³5Ü
 !  
!

hj‘°s5D/܏Žk  ‘܏ ! e k  ‘܏5žs5DSÜ7³LÜ
!  
! 
hck  Žbz$e§k  ŽXL$e k  ŽÜʏݞs5DÜ7³5Üh k  ŽÜʏ—EWe_°s5D/܏Ž³LÜ:Í
 
‰\I/9q¯HVDE;OKNF?;E9<MVB°HfqK¯DCs5D¨KN;¨KNoV9§D¨KŸFSž9;EI79KNF?;E9GMVB°H'FJšk # ŽÜEEW e]žs5D7܏"K¯D DE;—BEK¯ž;¨qN¸‹Cs5D¨KN;‘KŸoV9 r3sVB
X%$ &Ü $ b $d
+

) *-,/.103254 ' 6
+ 8:9<; Ü  h­X?Z&Ü€ h W5Z\H'FSJUÜ
u€h (*) 
$(*€ )*,.- r3sVB~^ W5d‹´LI7sY[`;EISH';;EI79
DE9 éVP79<FSž9/ Ü 

0„žsVF?oV9<BAMV9|DTH'FSJ¿ÓSFSJOKN;ADTqtKŸQKN;<d
! S 6 ´59<;E;‘KNF/M§³1
‚h Ü
$€e‹Ü
SZ$;EI79BA9 °P/BABA9GF°9OBA9žq¯H';‘KŸsVF_r3sVBÜ
;EB°H'FSD¨q¯H';E9 D+KNF?;—s‚³1
h
, 0xwzy|{x,S} ‡


e
$€ ³
Ì € r3sVB~ ^ŠW5d1¦‘;E9<B°H';‘KNF/M ;EI?K¯D®K¯Jƒ9GF?;¨KN;‘¸M'KNoV9 D

~ ~ eUW
 b W ge+WV

³1
hjAeWV • •<•G• • ³  h ³ Í
~¿a‹W ~ Ù b ~¿a‹W 
3
äT9<FSž9
Ì € 3
Ì €
5
3 2 4 ge+WV
Ü
h’Ü  a ³ h 2354 £
6 a‹W
 
D¨KNFSž9Ü  3 hœXH'FSJ³  h Üʀ©ešÜ  hœW5d8v 7 D„H'F‚HfqN;E9GBAFH';‘KNF/M§DE9<BEKN9 D[®KN;EIŒJƒ9|žBA9 VH D¨KNF7M;E9GBAQD<ZS;EI79
DE9<BEKN9 D%9;:354
 AeWV Ú  6 a‡WVvK¯DžsVFoV9<BAMV9<F?;[\KŸ;—I‹DEP7Q qŸF#EW„a‡WV"hœqŸFªb?Z$R?¸ ;EI79‰$Hf¸VqNsVBDE9<BEKN9 D
9žµCSH'FD¨KNsVFr3sVBTqNF—WTašÜgd\äT9<FSž9„;EI79DE9 éVP79<FSž9/ Ü
„ 0 žsVF?oV9GBAMV9 D®[\KN;EIqtKNQKŸ;qŸFªb?d
 

         !
" #$%& 

')(+*-,/.1032 465
798;:=<?>6:&@BAC:ED3F?GHDJIKGLD3MNON&N-PRQ!SL:UT$V@W>6XYB:&SZ8\[]8_^W:C`B@6:U^SL:UAC>6SZ8a[cbd:CVceYWe
D3F)fhg3G DJiKjIkf gklnDWimoDJi p mfrqWGCg3GLsWG&NON&NutHN
vw[c@x^yTzd:&@6:&SZT$VoQ1PdSLX>WV]T{Q1PdS{DJi6|
}*B.~w€=*B‚5
ƒ3:&„Cif†gd‡KDJi6|‰ˆ‹Š-:zR[cbd:&@SL:UAZ>-SLSL:O@xAZ:)„ŒŠ6:&@„HTRŽd:U8k„;Š6:_Q1PdSLX
F fhg3G iKj\I f† i lm p mfrqWGCg3GHsWG&N&N&N‘tHN
’“„;:&SZTR„“[c@-z”„;ŠW[]8kSL:UAC>6SLSL:&@BAC:•‹:PdY6„LT$[c@–JQ1PdS—mfhg3GHsWG&N&N&NUG
i3˜oI
ZifhCi3˜oIl p mš™›gdt/fœ&œ&œWfhHFžl Ÿ f†g£l sg m p m™¤gdt/f sg m M ™ sg ml¥g3N
Z¡ Fw¢
¦k:&@BAC: ˜oI
g g M g
D i f Ci f¨§ s m ™ s m©lgUª p mfhg3GLsWGON&N&NutHN

')(+*-,/.1032 «B5
¬bKT$Vc>BTR„;:­ i®¡ I s ˜¯I Q1PdS—mf†g3GLsWG&NON&N
}*B.~w€=*B‚5 ¢
ƒ3:&„° p“± tf ­ i®¡ F ± |†ˆ‹Š-:O@r°x² p“± tyf ­ iZ¡ I ± ˜¯I –£8;P³„ŒŠ-: zR[cbd:&@´8;>-X []8©:=<?>BT$V„ŒP›°B² p sµtH|
¶_@·iKj„;IŠ6:Pd„;Š6:&SEŠBTR@x^o–8;>6XX[c@-z”„;Š6:zd:OPdXš:O„;S;[]A8;¢ :OS;[‘:=8)[‘@¸„ŒŠ-:”^W:C`B@W[‘„“[cPd@›PRQ£° p“± tEzR[‘bd:=8° p“± tEf
p“± ™›gdt;‡ p“± ™›gdtH–xTR@B^y^¹[»º¼:&SL:&@W„“[½TR„“[c@-z„ŒŠJ[]8žQ1>6@BAC„“[‘Pd@•‹:PdY6„LT$[c@
i iKjI ™›gdt
° ² p“± t‰f p“± ™›gdt p mšl¥gdt ™› ± gdt™ M p“± N
p¾±
¦k:&@BAC: i
Ÿ s ˜oI f´° ² sµt‰f ml¥gdt“s i ™¸s iKj\I l¥g f m™›gdt“s i l¥g3N
Z¡ IW¢ p p p

')(+*-,/.1032 ¿o5
Àk[cbd:&@nT©@6Pd@6:&XÁ6„“e`B@J[c„Œ:8;:&„ÂÃPRQSL:=T$V@W>6XYB:&SZ8&–?Vc:&„ÅÄ Â)t£^W:&@6Pd„;:„ŒŠ-:XyT$Ƶ[cXyT$Vo:ZV‘:OXš:O@W„_PRQ
 |‰v-PdS‰mf†g3GLsWGON&N&N‘–dVc:&„£° p mwt/Yx:_„ŒŠ-:{8;>-XÇPRQ!Ä p Â)tL–W•£Š6:&SLp :—ÂÈSL>6@B8PRbd:&S‰„;Š6:s i ™Ég@6Pd@-ÊË:&XÁ-„“e
8;>6YB8;:&„L8PRQ/„ŒŠ6:8;:&„EÌRg3GLsWG&N&NON&GLmÍd|‹Àk[cbd:TR@:CƹÁWV»[½AL[‘„Q1PdSLX>WV]T{Q1PdS° p mwtL|
 } *B.~w€=*B‚5
³:ŠBTUbd:° p mwtEf ­ iZ¡ I
p tL–w•£Š6:&SL:
p t^W:&@6Pd„;:=8)„;Š6:@¹>-X”Yx:&S£PRQ£@6Pd@-ÊË:&XÁ-„“ey8;>6YB8;:&„L8_PRQ
ÌRg3GLsWG&NON&N&GLmÍ •£Š6P38;:XT$Æ3¢[cXyT$Vo¢ :CVc:&X:&@W„[]8 |¢ Vc:UTRS;Vced–
p gdtf†g3–68a[c@xAZ:„;Š6:8;:&„ÌRg3Í[½8£„;Š6: Pd@WVce
8;:&„PRQ_ÁBP38a[c„a[cbd:[c@W„;:&zd:OSZ8•ž[c„ŒŠ¥XT$Æ3[cXyT$V:Z¢ V‘:OXš:O@W„g3|›v6PdS  sW–„;Š6:y8;:&„H8ACPd>6@W„;:=^nY¹e
p t
TRSL::CÆJTdAC„aVce›„ŒŠ6P38;:šPRQ{„;Š6:šQ1PdSLX ¨f¨ÂI ¸Ì ˜¯ÍdI –•£Š6:&SL:yÂ)¢ I[]8T p ÁBP38L8a[cYJVce:&XÁ-„“e6t8;>6YB8;:&„˜o¢ PRI Q
ÌRg3GLsWG&NON&N&G ™ g3Íd|ƒ?[c@BAC:„;Š6:&SL:TRSL::CÆJTdAC„aVce·s ¢ 8;>BA®Š·8;:&„H8)ÂIR–x[c„)Q1PRV»VcPR•—8 „;ŠBTR„
p t_f s
Q1PdS£:UTdA®Š ¢ |¦k:O@xAZ: i ¢
¢ ° p mwtf Ÿ s ˜¯I f p mš™›gdt¾s i l¥g3G
Z¡ I6¢
YWe„ŒŠ6: SL:U8;>WVc„kPRQ!„;Š6:EÁ-SL:Ob?[cPd>B8kÁ6SLPdYWV‘:OXÉ|
')(+*-,/.1032 o5
o:&„_° p“± t£Yx:ETÁBPRV‘e3@6PdX[½T$VPRQ^J:OzdSL:&:m³8;>BALŠš„ŒŠBTR„_° p tf ‡ p l¥gdt/Q1PdS f´qWGCg3G&NON&N&GLm|‰vw[‘@B^
° p mšl¥gdtL| ¢ ¢ ¢ ¢
}*B.~w€=*B‚5
ƒ3:&„ p¾± t/f p“± l¥gdt“° p“± t/™ ± |‰ˆžŠ6:& @ p¾± t[]8_TÁBPRVceµ@6PdX[]T$VPRQ/^W:&zdSL:&:Eml›g•£ŠW[]A®ŠyŠxTd8‹SLP3Pd„L8£TR„
:UTdALŠPRQ/„ŒŠ6:ml›g@W>6XYB:&SZ8/qWGCg3G&N&NON&GLm|‰¦k:&@BAC: p“± tX”>x8;„/YB: PRQ/„ŒŠ-:Q1PdSLX
i

p  t p¾± t‰
f  p“± ™ t
Z¡ F ¢
Q1PdS£8;PdX:_AZPd@x8;„HTR@W„K|ƒµ:O„;„a[c@6z ± f™g_[‘@y„;Š6:E^W:C`B@J[c„“[‘Pd@PRQ p“± t‰•‹:_PdY6„LT$[c@ p ™gdt/f 3g |e p t
[c„kQ1PRV»VcPR•—8k„;ŠBTR„ i
g)f p ™gdtf p ™)g—™ t/f p ™gdt iKjI p mšl›gdt‘N

Z¡ F ¢
¦k:&@BAC:  f p ™)gdt iKjI ‡ p mlrgdt c|šƒ3>6YB8;„a[c„;>6„a[c@6z„;ŠW[]8)bKT$Vc>6:[‘@¹„;P p  tTR@B^ 8;:&„;„“[‘@6z ± f mšh
l g3–o•‹:
PdY6„LT$[c@ i iKjI
mp ©l¥gdt/ f  p ml¥g—™ t/f p ™mgdl¥t gdt p ml¥gdt Wf p ™gdt iKjI G

Z¡ F ¢ p
•£ŠJ[]ALŠ[cXšÁWV»[c:U8 iKj\I
° p ml¥gdtf p m©lm©gdtwlls ml¥g f m©lgkm©l lp ™)s gdt N

')(+*-,/.1032 B5
o:&„ ± IKG ± MdG&N&N&UN G ± i”Yx:mSL:UT$V@W>6XYB:&SZ8/8LTR„a[]8aQ1ed[‘@6z
i i
Ÿ frqWG Ÿ ± f†g3N
Z¡ I ± Z¡ I! !
"SLPKbd:„;ŠBTR„ ## i ##
## Ÿ ± ## g ™ g N
# I #%$ s sdm
Z¡ ¢
 } *B.~w€=*B‚5
ˆ‹Š-:zR[cbd:&@ ACPd@B^µ[c„a[cPd@B8_Pd@ ± c[ XÁJVce„ŒŠBTR„&–WQ1PdS_TR@We”SL:UT$V@W>6XYx:OS
o–
## i ## ## i ##
## Ÿ ± ## f ## Ÿ g #
# Z¡ I # # Z¡ I ± § ™Wª ##
¢ i ¢ ## ## i ## ##
i # g # # g #
$ Ÿ I! ± ! XyZ¡ T$IÆ # ™ # f XyZ¡ T$IÆ # ™ # N
Z¡ ¢ ¢
ˆTRŽd[c@-zfÃgd‡Ks)l¥gd‡Ksdm–B„;Š6:XyT$Ƶ[cX>6XbKT$Vc>6:PRQ gd‡ ™ p gd‡Ks)lrgd‡Ksdmwt [½8TR„Œ„LT$[c@6:U^³TR„ fÃg
TR@B^ f´mÉTR@B^š:=<?>BT$V!„;Pgd‡Ks)™›gd‡Ksdm|‰ˆžŠ6:E^W:U8a[cSL:U^©! [c@6:U¢ <d>BT$Vu[c„“e„;Š6:&@Q1PRV»VcPR! •—8&| ¢
¢
')(+*-,/.1032 o5
ƒ3>6Á-ÁBP38;: m f D I D M N&N&NZD I []8„ŒŠ-:n^J:=A®[cXT$V{SL:&Á6SL:U8;:&@W„HTR„a[cPd@ PRQ”TR@¥[c@W„;:Ozd:&S m9ACPd@B8a[]8;„a[c@6z¥PRQ
:CÆJTdAC„aVce³g @6Pd@6Ê&:OSLP^µ[czR[c„L8D¤ÌRg3GHsWG&N&N&N&GWÍd|{ƒ3Š6PR•´„;ŠBTR„_mÉ[]8k:C[c„ŒŠ-:OS ^µ[cbd[½8a[cYWVc:YWeg W–6PdS
A&TR@³YB:ALŠBTR@6zd:U^„;P TR@[c@W„;:&zd:OS „;ŠBTR„[½8E^µ[‘bd[]8a[cYJVc:yYWeÉg YWeSL:&ÁWV]TdA®[c@6z 8;PdX:d–-Y6>6„@6Pd„ T$V»V˖PRQ
„;Š6:Å^¹[czR[c„L8DYWeqW|
}*B.~w€=*B‚5
o:&„moF fÈqTR@x^šQ1PdS fÃg3GLsWG&NON&N&GCg Vc:&„Em ^W:&@6Pd„;:„ŒŠ-:@¹>-X”Yx:&S‹PdY6„LT$[c@6:U^YWeSL:&ÁWV]TdA®[c@-zyT$V»V
Y6>6„_„;Š6: `BSZ8;„ ^µ[czR[c„L8¢ PRQ‹m³YWe„ŒŠ-:^µ[czR[c„qW–W[Ë| :d|c–wm fDWIODµM/N&N&NHD qdq‹N&N&NHqW| e„;Š6:ÁW[czd:&Pd@ Š-PRVc:
Á6S;[c@xAL[‘ÁWVc:d–W„“•‹P ¢ PRQ¼„;Š6:g )@W>6XYB:&SZ8wmoFKGLmwIKG&N&N&N&GHmwIR–W8LTUem  TR@B^m  •‹[c„;Š M I‹X>B8;„wYB:
ACPd@6zdSL>6:&@W„‰XšP¹^W>WV‘Pg W|’“„žQ1PRV»VcPR•—8_„;ŠBTR„£„;Š6:^µ[»ºo:&SL:O@xAZ: m  ™¸m  []8_^µ[‘bd[]8a[cYJVc¢ :YWe¢ g W|kPR•
m  ™ m  []8‹„;Š6:@W>6XYx:OSPdY6„HT$[‘@6:U^Q1SLPdX mYWeSL:&ÁWV]TdA®[c@-z”„;Š6:_`xSZ8;„ I—TR@B^„;Š6:_V]Td8;„ p g k™ MRt
^µ[czR[‘„H8)YWeyqW|_ƒd[c@xAZ: M IU–x•‹:EŠBT$bd: I‰l p g )™ M$t g W–B8;P ¢ @6Pd„_T$V»V/PRQ‰„ŒŠ-:g ”^¹[czR¢ [c„L8
TRSL:SL:&ÁWV]TdAC:U^YWe O:&SL¢ P6|ˆ‹ŠW¢ >B8&–µ„ŒŠ6:)@¹>-X”¢ Yx:&S m  ™¸m  ¢ ŠBTd8‹„;Š6: SL:=<?>W[cSL:U^šÁ6SLPdÁB:&SL„a[c:U8&|
 


      !
" $#%&(')
* +.-0/13254 607
,
8:9);=<?>A@B9DCBEF;G9H;GIB9JKCL;G9)MN9)OQPDRSENTU9)TV;W;GE$X YZ=[]\0EFOW9_^a`FbcaRK9FdB<0egfh<5i=fkj`FCB@l<5m=fn<LopfrqsTUJKCBPD9
X jpfkjNd X q,fkjNtvuBjt%t%twd X x fyjNt{z x t%t%t{d0`FCB@ X ufrq5Z{|~}F`FRK€a`;G9;UIB9TU€Bb
‚ f <ƒj ep„ <5j i„†%%%„ <ƒeˆj ‡G‰GŠ t

‹ ƒ- 1]Œ:.Ž3-ƒ7\0EFO`FC’‘“c”ENTUJ•;GJK’9–JSC’;G9DMN9_Ol—0dg<L>˜JKT9)™5€a`FRš;GE›—0dgJSœi `FCB@žENCBRK‘“JKœ X YŸRSi JK9DT¡9);ˆ¢š9D9DC

—,£žj.¤Nq~`FCB@— „ j.¤Nq5dBJ¥Z¦9FZSdBJKœ§`FCB@&`FCB@¨ENCBRK‘©JKœ!YRSJS9)TQ¡9);ˆ¢š9D9DCª— £˜— „ j.¤u`FCB@— „ — i„ j.¤uBZ
« JSCBP)9p;GIB9)OG9H`OU9p9_^a`FP_;GRK‘$oGo qL—JSC’;G9DMN9)OF`FRK€B9DTšJSC;UIBJSTO¬`FCBMN9dB`FCB@ATUJSCBP)9j®­N¯N°f†uNu uL±f†uNu „ uNuBd
JK;=œ²ENRSRKE.¢=TW;GIa`; ‚ fr³ ´%µ e [¶j.¤L—5| qL—fh¯N¯·Z
*,+.-0/13254 ¸¡7
8:9);š¹º~»¼¡9H`;UOGJS`FCBMNRS9Fd5`FCB@ARS9);Wº½¾`FCB@–»,¿k@B9DCBEF;G9p;GIB9H`FCBMNRK9_ÀÁaJKTU9DP);UEFOGTW`;WºÂ`FCB@©»Z « IBE®¢
;GIa`;JSœº½Ã`FCB@ »¿ÄIa`%’9;GIB9,TG`Fb$9RK9DCBMF;GIÅda;GIB9DC&;UIB9;UOGJS`FCBMNRS9JSTJKTUENTUPD9)RS9DT~[Æ;GIa`;JKTDda;GIB9TUJK@B9DT
¹ºÄ`FCB@&¹»ÂIa`%’9,;UIB9TG`Fb$9RK9DCBMF;GI0|_Z
‹ -ƒ1]Œ:.Ž3-ƒ7 8:9);©<ÇfȺ~»dWÉ&fȹ»dšÊ¨f˹ºÌ@B9DCBEF;G9l;GIB9l;GI·OU9D9¨TUJK@B9DT$ENœ;GIB9l;UOGJÍ`FCBMNRK9Fd(Î
`FCB@Ϙ;GIB9A`FCBMNRS9)TENœg;GIB9;VOGJÍ`FCBMNRK9$`;ºÐ`FCB@“»d`FCB@“Ñ fº~½ÌfÒ»,¿Ã;GIB9¨[]PDENb$bENC0|RK9DCBMF;GI
ENœ;GIB9l`FCBMNRS9ÓÀÁaJSTV9DP);GEFOGT`;;UIB9DTU9lc¡ENJSC’;GTDZÇÔQIB9l`OG9%`ÖÕ ENœ;GIB9l;VOGJÍ`FCBMNRK9–¹º~»ÐJST)dgENC˜;GIB9lENCB9
Ia`FCB@ÅdHÕ f [¶j.¤NqN|V<?ʔTUJSCgÎZØ×HCŸ;UIB9ªEF;GIB9_OlIa`FCB@ÅdTVcaRSJ•;U;GJSCBMÙ¹º~»ÌJSC’;GE“;GIB9Ú;UOGJÍ`FCBMNRK9DT–º~»,½
`FCB@Aº½A¹dN¢IBJKP¬I$Ia`®’9`OG9%`FT[¶j.¤NqN|V<?ÑTUJSC”[3Î!¤NqN|`FCB@Ú[¶j.¤NqN|VÑLʔTUJSCÛ[ÆΧ¤NqN|Ód’OU9DTVc”9)P);GJK’9)RK‘’d’¢š9=EFB;G`FJSC
ÕfÜ[¶j.¤NqN|¶Ñ¡[¥< „ ÊD|·TUJKC:[3Î!¤NqN|_Z « 9);U;GJKCBM;GIB9;Ý¢gE9_^5cBOG9DTUTUJKENCBTœ²EFO=¹k9D™?€a`FR:`FCB@&€BTUJKCBM;GIB9@BEN€·aRS9
`FCBMNRS9Aœ²EFOUb€BRS`¨TUJSCWÎhfÞqTUJSC:[ÆΧ¤NqN|·PDENT%[3Î!¤NqN|_dJK;œ²ENRKRSE®¢Ts;UIa`;–[¶j.|sqPDENT®[3Î!¤NqN|sfßÑ¡[Ýj.¤F< „ j.¤FÊD|_Z
« JSbJSRÍ`OURK‘’d:JSC’;G9)OGP¬Ia`FCBMNJSCBMÚ;GIB9$OUENRS9DTsENœQºà`FCB@“»d§¢g9AEFB;¬`FJSCŸ[ÁqN|qPDENTD[ÆÏ:¤NqN|f¾Ñ¡[¶j.¤F< „ j.¤FÉD|_Z
áݜ¢š9CBE.¢y`FTUTU€Bb$9s;UIa`;É`FCB@Ês`OG9CBEF;p9D™5€a`FR]d”TG`%‘“[3¢=JK;GIBEN€·;pRSENTUTHENœMN9DCB9)OG`FRSJK;ˆ‘B|ÉârÊ.d¡;GIB9DC
ΐâãϛ`FCB@ TUE©PDENT®[3Î!¤NqN|pärPDENT®[ÆÏÛ¤NqN|_ZåHE®¢š9)’9_O%d¡L‘Ù[¶j.|`FCB@Ç[ÁqN|Q;GIBJKTp¢šEN€BRS@ JKbcaRK‘ªj.¤FÊäÜj.¤FÉæd
PDENC’;UO¬`F@BJKP);GJSCBM;GIB9s`FTVTU€BbcB;GJKENC¨ÉpâçÊæZåH9DCBPD9sÉ`FCB@&Êb~€BTV;W¡99D™?€a`FRè`FTQPDRS`FJSb$9D@ÅZ
*,+.-0/13254 éÅ7
8:9);$`ªTU9D™5€B9)CBPD9ªê%ëƒ>¡ì&¡9&MNJ•’9DC˜L‘“ë!e© > fj¨`FCB@˜ë¡>’í§e©fÃë > >i „ ë¡>˜œ²EFOYrf jNîÓq5î x î%t%t%t{ZÙ8:9);
ï >kf j.¤B[¶j „ ë¡>B|–`FCB@ãRS9); ‚ >yf ³ ´%µ e ï ´ `FCB@hð§>ñf ò ´%µ e ï ´ @B9)CBEF;G9FdpOG9DT¶c”9DP);UJK’9DR•‘’dp;GIB9
TU€Bb `FCB@Ç;GIB9&cBOGE?@B€BP);AENœ;UIB9lóBOGTV;$Y†;G9)OGbTENœp;GIB9lTU9D™?€B9DCBPD9Öê ï ´ ì’ZÇ}(`FRS€a`;G9lð§> „ ‚ >žœ²EFO
Y&fÜjNîÓq5î x î%t%t%t¦Z
‹ -ƒ1]Œ:.Ž3-ƒ7 \0OUENbà;UIB9MNJK’9)CªOG9DP)€·OUOG9DCBPD9$¢g9EFB;¬`FJKCªëƒ>’í§esfØëƒ>a¤ ï >¡d!TUE–;GIa`; ï >fÂë¡>a¤æëƒ>’í§e
œ²EFOH`FRKRÛYZåH9DCBPD9,ð§>Afnò >´Dµ e [Æë ´ ¤æë ´ í§eÓ|f†ë!eÓ¤æëƒ>’í§ešfyj.¤æëƒ>’í§eœ²EFOH`FRKRÛYZô EFOG9DE®’9)O%d0œÍOGENb¾;GIB9
JS@B9)CL;GJ•;ˆ‘
j j j j j
ï >f j ëƒ> f ë¡> £ [¶j ëƒ>a|Ýëƒ> f ë¡> £ ëƒ>’í§e î
„ „
j
¢š9WTU9D9W;GIa`; ‚ >$fr³ >´Dµ e [Ýj.¤æë ´ £lj.¤æë ´ í§e¬|fkj.¤æë!e·£–j.¤æëƒ>’í§egfkjÅ£–j.¤æë¡>Níe)ZåH9DCBPD9Qð§> „ ‚ >fkj
œ²EFO`FRSRÛYZ
*,+.-0/13254 :7

9)óaCB9`sTU9D™?€B9DCBPD9ê%ë¡>ƒìL‘ëèešf X qs`FCB@Aë¡>’í§egf X qœ²EFOšYrjNZ (OUE.’9;UIa`;g;GIB9HTU9D™?€B9DCBPD9
ê%ëƒ>¡ìsPDENC’’9)OGMN9)Tp`FCB@&óaCB@¨J•;GTQRSJSbJK;%Z
i
‹ -ƒ1]Œ:.Ž3-ƒ7 « JSCBPD9ëèešf X q~âãq`FCB@AJKœ”ë¡>–âŸq,;GIB9DC$ëƒ>’í§ešf X q Aâ X q frq5d5JK;œ²ENRSRKE.¢=TL‘
JSCB@B€BP_;GJSENC$;GIa`;H[¶j.|ëƒ>–âŸq,œ²EFOW`FRSRaYZÔWI?€BTDd?;GIB9pTU9D™?€B9DCBPD9sê%ëƒ>¡ìHJKT(”EN€BCB@B9)@–œÍOUENbÒ`”E®’9FZ H9_^5;
RS9_; [3ëÅ|f X q p£ ëèZ(ÔWIB9DCÁ[3ë”|f X qRSENM X q=£ÙjâŸqRKENM X q=£“jâç°~œ²EFOšë âŸq5dBTUE[3ëÅ|JKT
@B9DP)OU9%`FTUJSCBM©œ²EFOHëârq5dÅ`FCB@ÚTUJKCBPD9[ÁqN|gfñ°·dƒ;GIBJKTpJSbcaRKJS9DT[3ëÅ|Qäh°·d¡EFOp9D™5€BJ•F`FRK9DCL;URK‘ X q  äãëèd
œ²EFOWë âŸq5ZáÝC©·JK9)¢rENœ[¶j.|_dBJK;Wœ²ENRKRSE®¢Tš;GIa`;Wëƒ>’í§ešf X q  äžë¡>©œ²EFO`FRSR”YZåH9DCBPD9;GIB9TU9D™?€B9DCBPD9
ê%ëƒ>¡ì~JSTpbENCBEF;GENCB9sJSCBP_OG9%`FTUJKCBMl`FCB@¨¡EN€BCB@B9D@œÍOGENbÐ`”E®’9`FCB@Ú;GIB9)OU9Dœ²EFOG9~b~€BTV;¡9PDENCL’9_OGMN9DC’;%Z
8:9);y@B9DCBEF;G9©;GIB9©RSJKb$JK;ENœQ;GIBJKT~TU9D™5€B9)CBPD9FZg‘ç[Ýj.|,¢š9©Ia`®’9[ÁqN|ØfÞRKJSb>Çë¡>¾q5d`FCB@
RS9_;U;GJSCBMAY  ENC ¡EF;GI TUJS@B9)THENœ;UIB9sOG9DPD€·OUOU9DCBPD9~ë¡>’í§ef X q  d¡¢š9EFB;G`FJSC çf X q"!ÖEFO[ x |
[#g|fh°·Z « JSCBP)9$[ÁqN|fh°·d%ÙfrqJST=`TVENRS€·;GJKENCl;GE¨[ x |_Zô EFOG9DE®’9)O%d&Ùf¼q~JSTW;GIB9ENCBR•‘©TUENRS€·;UJSENC
TG`;GJKTUœÍ‘·JKCBM[ÁqN|_d0TUJSCBP)9[3ëÅ|WJSTp@B9)P)OG9%`FTUJKCBM©œ²EFOpëâhq5Z=åH9)CBPD9s;GIB9sRKJSb$J•;ENœ§;GIB9TV9D™5€B9DCBP)9$ê%ë¡>¡ì~JKT
q5Z
*,+.-0/13254 '¡7
(OUE.’9;GIa`;Q;GIB9TU9_OGJS9DT j j £ q j j £ q j t%t%t
j~„ q x „ u©„ ± ( „ z„
PDENC’’9)OGMN9DT`FCB@¨9)`FRS€a`;G9JK;UT=TU€Bb&Z
‹ -ƒ1]Œ:.Ž3-ƒ7Ò8:9); ‚ >–@B9DCBEF;G9;GIB9TU€BbßENœè;UIB9,óBOGTV;=Yª;U9)OGb$TQENœè;GIBJKTTU9)™5€B9DCBPD9ZgÔWIB9DC
> j >,Gm.- x > j t
‚ >$f ) £
+ * ) f )
x
´%µ e — ´%µ e — ´%µ >/,¬m.-wí§e —
*
8:9); 0¡>&@B9DCBEF;U9,;GIB9,RÍ`;U;G9_O=TV€Bb¨Z21šENbc0`OGJKCBM;UIBJSTQTU€Bbߢ=JK;UI¨`FC&JKCL;U9DMFO¬`FRÅ¢š9TV9D9,;GIa`;
x > j > x
RSENM x £›RKENM¡[Ýj „ Y |f43 >,Gm¬í§e ë ђë560¡>783 >,Gm:9èe ë j ÑNëlf†RSENM x £›RSENM0[¶jQ£ Y |

« JSCBP)9RSENMƒ[¶j<; x ¤Y:|  °`FTQY5 †d·¢š9PDENCBP)RS€B@B9,;UIa`; 0¡>Åda`FCB@&;GIB9)OG9)œ²EFOG9 ‚ >ÅdBPDENC’’9)OGMN9DT)d¡`FCB@

Ia`FTRKJSb$J•;WRSENM x Z(åH9)CBPD9,;GIB9MNJK’9)C¨JSC·óaCBJ•;G9,TV9)OGJS9)TPDENC’’9)OGMN9DT=¢J•;GI&TU€Bb¾RKENM x Z
*,+.-0/13254 =Å7
> J•’9DC†c¡ENTUJK;GJ•’9JKCL;G9)MN9)OGT¨YÜ`FCB@@? ¢=JK;GI†YA qB?dRS9);[]YîC?&|A¡9;GIB9ªC?€Bb”9_OÚENœaJSCa`OV‘
TU9D™?€B9DCBPD9DTHENœRK9DCBMF;GI¨YŸ[3J¥Zv9ZSdaTV;UOGJKCBMNTp<0e¬<·i§t%t%tU<L>l¢=JK;GI¨9D`FPÓI <ED(9)JK;GIB9)OH°EFOsj.|š;GIa`;pPDENC’;¬`FJKC¨;GIB9
aRSE?PCF&°·j,9_^a`FP_;GRK‘G?Ð;GJKb$9DTDZ\JSCB@&`TUJKbcaRS9œ²EFOGb~€BRÍ`~œ²EFO [3YîC?¨|_Z

q
 ‹ -ƒ1]Œ:.Ž3-ƒ7Ò}’9)OU‘–TU9D™?€B9DCBPD9sENœ:;GIB9,OG9)™5€BJKOU9D@¨œ²EFOGb¾P%`FC&¡9¢QOGJ•;U;G9DC&`FT
ºeG»He¬°·j®ºi)»QiD°·j(t%t%t¶°·j®º
í§eG»=í§e%d:¢=IB9)OG99%`FP¬I›ºDWJSTs`©aRSE?P FENœpj¦T`FCB@9%`FP¬I›» D`©aRSE5PCFENœ
°vT)d¢=JK;GI“9DbcB;ݑaRSE5PCF5T~¡9DJSCBMª`FRSRKE.¢g9D@Åd`FCB@Ù;GIB9©TU€Bb ENœQ;UIB9–RK9DCBMF;GIBT~ENœ=;UIB9©aRKE5PCF·TºDH`FCB@
» D=JKT,YÚ£žqB?ªZô EFOG9DE®’9)O%d:;GIB9TU9)™5€B9DCBPD9JST€BCBJS™5€B9)RK‘@B9);G9)OUb$JSCB9D@ª?‘ ;GIB9¨[ÁqB? „ qN|ˆÀÁ;U€·caRS9Ú[Ýj.|
[¥É.eDî¬ÊæeDî¬É)iæî¬ÊDi.î%t%t%t_î¬Éí§eDî¬Ê=íeG|¢IB9_OG9É D`FCB@–Ê D§@B9DCBEF;G9p;GIB9HCL€Bb”9)OWENœÛ9DRK9Db$9DC’;GTšJKC$;GIB9paRSE?P F5T
ºDW`FCB@Ö» DVdÅOG9)TVc”9DP_;GJK’9DR•í‘’Z$§e 1šENCL’9_OGTU9DR•‘’dè`FC’‘Ú;G€·caRK9ENœ;GIB9œ²EFOGb [¶j.|¢J•;GICBENCBCB9DM’`;GJK’9~JKCL;G9)MN9)OGT
É D§`FCB@lÊ D§TG`;GJKTUœÍ‘·JKCBM ³ D µ e []É D „ Ê DÁ|fØ[3Y£qB?&|@B9);G9_OGb$JSCB9)TW`sTU9D™5€B9)CBPD9,ENœÅ;GIB9pOU9D™5€BJ•OG9D@A;ˆ‘5c”9Z
åH9DCBPD9š;GIB9šCL€Bb”9)OENœaTU€BP¬ITU9D™?€B9DCBPD9DTJST9D™?€a`FR?;GEH;GIB9šCL€Bb”9)OENœB¢W`%‘·TENCB9šPD`FC¢QOGJK;U9WqY=£ ?`FT
`pTU€BbyENœ0qB? „ qN|!CBENCBCB9DM’`;UJK’9šJSC’;G9DMN9_OGTDdF¢=JK;GIEFOG@B9_O;¬`BF’9DCJSC’;GE`FPDP)EN€BCL;%ZÔWIB9šRÍ`;V;G9)O!cBOUEFaRS9DbyJKT
9D™?€BJK`FRS9DC’;;GEPDEN€BC’;GJSCBM;GIB9šCL€Bb~¡9)OENœB¢W`®‘5TENœƒP¬IBE?ENTUJSCBM,qY£$?Ä@BENC?€·;GTœÍOGENbØqB? „ q`OGJS9_;GJS9DT)d
`s¢š9DRKR•À F5CBE.¢=C–PDENbaJSCa`;GEFOGJS`FRƒcBOGEFaRK9DbÒ¢=IBENTU9`FCBTV¢š9)O=JSTšMNJ•’9DC–L‘$;GIB9HaJKCBENb$JÍ`FRƒPDE59PDJS9)CL; 
¢=JK;GIÇ<žf []YÖ>Ní£ãe qB?¨| „ [¥qB? „ qN|š£ñj fàY „ j¨`FCB@çÉlf [ÁqB? „ qN|Q£njfËqB? „ jNZ˜åH9DCBPD9
[]YîC?&|f ií§e  Z

x
 
              

  !#"$"%"&'(" )+* ,  -.*
/ 0 1
23 
46587:9;=<?> @
A?BDesL`CEM&CGFI|+HK}~J#LNubMPOQ€LSy6RUTW}~V:azRDX8HKVZBEYW‚YWMƒY[V:L`R]MP\^OQLpOQRt_`Jb„†‡Tad‡ˆ0cIegfhRtJj„†ik‰XŠelihˆ‹L`JjYWcIYWJmYW_Nˆ0HjnpRDo2Œp_NesF8HfhxEJegL`fDMPelHKOQesLqŽPlL`JvMEŽtJm_`&JbaJ[nrDelHKLSesitLNJjcIJm_`Hvu$OwiExzy
{‘ 7U;“’Z”8•=7U–˜—š™ JmL2›œpžŸ|SOwiEx%¡Fw_Š¢£ž¥¤IV‚¦?VWYWYWY†V`a§wsJmL2›G\¨žŸR:TIˆ¨RDX]ˆ&©W©W©`R]\ªn«¬L`MEJ­CPelcIJjFIiEMEFIsJ
CEH`Ow_`³¨esiEJvjesCP_`JmsJw³´§:OwL el{ iEF%xEJmFI_µ®LBD`CªMEFIJjHKi&J¯xEa$egfDˆ‹elHKel¤¯FIi¶elihŽ]L`Jj¶cIJ[a_`nŠHj§:·vH`JjO°iE&jJ¯›G„›‰Œ¹OwiE¸zx›G›‰„pŒ+žŸ± { Rteg„†L`‡TMZ|+ˆ!}'Rt„†u+‰X€ˆ~y¯©W}~©W©KaZRD²[Œq§Eel³#HºBEO#HK³#LBElJjsO°L`fhegCPJ(lJvL`MEFIJ
an
46587:9;=<?> »
¼¨™OwiEJmLNLGxkF6¼#L`y6MEŽGÆÇJºžšJµHNOqel±ÉxERvCªJºFIˆ0FIelihG½ŠLsˆ0JjeliEiE¾mHNcwes²NL`xEÊIM¨Jµ¦?R:nŠOq§to2LNOw_`_`iEelF°Owx$fhiEJ(lcIJ[lLNLºJ¬MPÀDOQMPLØOWfDOwesiEiExƒcvÀDHNelÄ2xEŽªJjHJFIxEPJmsÅPJjiEiEJmcwx¶L`MEOwHŠiPRUOwVPlFI½8cIV:FI¾¿BEn HN™ ghJmn L˜™ ÀDJ[ÁLºŽGÀJ¬ÆÇL`ž‹MEJ­³¨xEelesi‰HKL†±ÈÀEOwiEÁtVmjÀEJ­ÃjÂ_VmNFIÀD³Ä†²
À}ÌË ±Íyµ¸ÎRD²j±Íyµ¸d½j²m±Íy¸d¾m²NÊIyhY
‘Ò 7UME;“J’ZOQ”8_`•=JW7UOw–˜H— FI®LÏ`MEJ¨J¯HK_NL`JjBEHNBExDs/LNeliEL`MEc%J¨LNMDOQ_`_NJjJWJO&iEFIJ˜L`MELNJ%_NeÂLNOw_`iEeÂOwcIiElJmcIHpsJwOQn$_`J¨Ðv±Ó_†¤8O ÊI{ ¦I²KlRPesiEÀDJjÁhH¯§®±ÔÂ_`¤8FIÊI³Ñ¦I²K½°¼dÀDÃmL`§®F±ÓL`¤8MEÊIJ%¦I²KL`¾°MDÀD_NÄjJjn J$Ò fhM]JmBE_NLNHeljL`JjMEHmJ n
OQ_`JWO+FI®L`MEJ(Fw_`elcIesiPOwGLN_`elOwiEcIlJ(elHbÕw֘×l؆{ տقÖ
¤ ±ÉRvˆ0½Šˆ0¾m²D³¨eliG±ÚÀEÁtVmÀEÃjVmÀDĆ²¹žÛywÀªY
¦
Üvi&L`MEJ¯FwLNMEJm_qMPOwiEx§PŽtƒ·vJ[_`FIiÝÞH¡Fw_`³#BEÂOD§DL`MEJ6OQ_`JWO+FI®L`MEJ¯Fw_NelcIeliPOwGLK_`eÂOwiEcIsJ(esH
Ë yt±Íy¸dR?²j±Íyµ¸Î½j²j±Íyµ¸Î¾j²[Y
Ò M]BEHj§ªyQÀ} Ë y]±Íyµ¸ÎRD²j±Éyº¸d½m²j±Íyº¸Î¾m²[§ { MEes†MelHºJjß?BEegfwOwsJjihLL`F+L`MEJ6OwHNHNJm_NLNJjx^eliEJjß]BPOwlegLԐhn
46587:9;=<?> à
™|JmžÑL%á'á±ÓOw¤8iE²vxΞâã❎G±ÓJ¨¤8²[Ln¶{ A?eljBDJ´CECªjFIFIihHNJ¨L`esi]L`MPBEOQFILBEHN|ãgÎxEesá䪱=JmèG_`²bJjih¥L`eÂOQ❎P±=sèGJ¶²S¡B¡FEwiE_mL`|ãelFIšiEH#è~FIi‹å椶|DVOw¤jiEç x.{ L`esMPLNM!OQL#á᪱Ééæ|hͲ±ê蝞²b❱É||h²¡Fwž _
|#~èÛ¤In¬A?MEF { L`MPOQL ë T Xì ë T XGì
œ á é ±=èG² èk} œ â é ±=蝲 èíY
¤
 ‘á éÞ7U;“~’Z”8|%•=7UOw–˜iE—
xká^ihL`JjcwâG_†§ OQLNelJ6iEcMPO°Žtfh(J C:OQ_NL`HíOwiExBEHNeliEcL`MEJ¬OwHNHKBE³$CEL`elFIiEH‡á±Ó¤8²ž€â±Ó¤8²ž á±É|h²ž€â‰±“|h²ž |D§
ë T { X[ì T ë T ë T
áœ é ±ê蝲 胞Ûá±=èG²Ná é ±=èG² œ ¸ œ ë á±=èG²Ná éÞ ±=èG² è^Û¸ ë œ ≱ê蝲Ná éæ ±=蝲 ì è ì
T T
žÌ¸­â‰±ê蝲Ná é ±=èG²  œT ˆ œ â é ±=èG²Ná é ±=èG² ì èž œ â é ±=èG²Ná é ±ê蝲 ì è
 lHKFE§DŽ] ºOwBE†MhGÝæHqeliEJmß?BPOwlegLڐh§
 ë T â é ±=èG²Ná é ±=èG² ì è  X }  ë T â é ±=èG² Xmì è   ë T á é ±ê蝲 X[ì è .V
œ œ œ
Ò M]BEHj§
 ë T á é ±=蝲 Xmì è  X }  ë T â é ±=èG² Xmì è   ë T á é ±=èG² Xmì è .V
T œ œ œ
OwiExxEegfDelxEesiEc+Žt œ á é ±=蝲 X ì èkcIegfhJjHµL`MEJ6_`JmHNBEsLWn
46587:9;=<?>
o2iEF%_NF8_`fhOQJbL`elL`FIMPiPOQOwLSGes_`˜RF]:FwL`§‰Hj½¿n §‰OwiExã¾bOQ_`J#F?xExkCGFIHNegL`esfhJbesitL`JmcIJm_`Hj§L`MEJjikL`MEJ#CGFIgDiEFI³¨elOw®Rhè X ˆ~½‚è$ˆ~¾MPOwH
‘Jjß]7UBP;“OQ’ZL`”8el•=FI7Ui´–˜Rh— è X A?ˆ/BDCE½†CªèvFIˆkHNJ¯¾µL`žŸMPOQ|DLºn èƒÒ ž‹MEJjuIi/ÊI±y¯Q²es2HqR]O#u X _†OQˆkL`el½[FIuwiPyíOwˆkHK¾jFIy lX BDL`žŸesFI|Di&n˜elA?iƒesiElF j{ JqJjL`HKMELJqL`Â_Jm†_`Ow³$mL`HºesFIFIi¨íL`uIMEÊIJ(ypCªelH2FIelsi´?iEsFFI³¨JmeÂHKOwL 
L`elH˜Jm_NF?³¨xExHj§P§]OQLNLµMEJj³¨i¨FIL HKLºFbFIiEFIJSªL`FIME®uJq#LNMDOwiE_`JjxJpy6L`JmW_NOw³¨iH˜ŽGFIJSi$JmLNfhMEJjJpinlJjÂL¬ZJ[FIrE¹±OwmQ²L`2s¶OQ_`FIJiEJmJSfhFIJjíui#OwiEOwx¨iEx^L`MEy6JqesHºLNMEJ[esfh_`x$JjiLNJmOw_`iE³1xesL`H¬MEF?J6xEFwx{ LN§]MEHNJmF _
L`OQME_`JbJjeg_vF]xEHNxBE³§OwiEWOwx^iE{ L`iEMEFwJjLSes_pJjß?HNBEBP³ Owí|DOwchn Owel‡Ži^ªjFwOwL`iEM^iEu¨FwLvOwŽGiEx/JbJjy#ß]OQBP_`OwJíF]L`F¶xEx|D§Un L`ÒMEJmMtikBEHjOw§GlíL`MELNMDJb_`JjJjß]J¯BPL`OQJ[L`_`el³¨FIikHqRhFIèiX LNˆ'MEJb½‚lè$JjÂLˆ'vFI¾vº±žÌQ²|
xEF?JmHqiEFwLMPO°fhJ¯O+_†OQL`esFIiPOwG_`F?FwLjn
46587:9;=<?> 
 fQOwlBPOQLNJ(L`MEJ(eliDÅPiEegL`J¯HKJm_`elJmH
T¦ ¸!¤ ¦  T ˆ ¦ X ¸Î¤ ¦  X ˆ ¦ µ¸!¤ ¦  ˆ ¦ ­¸!¤ ¦   ˆ ©W©W©
‘ 7U;“’Z”8•=7U–˜— ™ J[L(á±=èG²¬ž \ œ ±=è  X  ¸dè XX   ²  T §ªHNF¨X L`"MP! OQLqT L`MEJcIesfhJmi^HNJm_`esJjHvelHSá±Ô¤8ÊI¦I²[n Ï _`esL`esiEc
JWelihOwL`†F$M.O%L`JmcI_NJj³ FI³¨eliãJ[LN_`L`elMESelH6HNJ[HN_`Jmel_`JjesHmJj§ H#OwJ6HcIOƒJmL CE_NF?xEBEmLè ±Ó¤v¸ è ²  OwiExdJ‚rDC:OwiExEeliEcƒL`MEJ¨HNJjmFIiEx!êOw[L`Fw_
{
á±=èG²ž \#  œ è X  #  œ è X  "! $ ž \&# %  œ è X Q‰X "! $ ž \&# %  œ è X 'sX $ ‡T)( Y
$ $ $
¦
 F?i mjLNBDME_`J(HblJ[OwrEHKLµOwmHNL`Jms_NãelJjFIHjiE§EjL`MEJ¶JSOwJ[Hbr?HNCGBEFI†iEM!JjihOwL`iÎHqJ[¦ rD\ Cª±Í¦
FIµˆiEJj~ihLW¤8n²¬·vOQ_`JjJviECªjJ¨FIHNLNesL`MEegJ¨fhJvÂOwelihHKLL`JjHNcIJmJm_`_NesHjJj§:HbOweliEHxƒJmß?JWBPOwOw†M¶2LNCGF FIHNegL`es fhJSesitè L` JmcIJmž _
èGÊE±Ó¤µ¸.蝲[§:OwiExƒHNF¶á±=èG²ž èÊE±Ô¤¸.èG²[n Ò MEJ(fwOwsBEJ6FIíL`MEJ6cIegfhJji&HKBE³ esHL`MEJm_NJj¡Fw_`Jbá±Ô¤8ÊI¦I²žÌ¤In 
‡
 T
åeli¶i$HNMEOwF sL`J[el_`iEiPcEOQ§?L`Žtesfh´JºelHNiEFIxEsBEBD[L`L`elFIelFIii±“§?¡FILNMPBEOQiEL­x$L`ŽtME$JvÐ(HNBEOW³ fDelx%FILÐS`BEMEJmJpŽGÅEJm_`_jHÓ§ Lµ6aOwL`BEJmHN_`ME³¨e H˜qFI‰LF°hNME§tJvOwiEcIx esfh6Jji¶JmiHNJmA?_N‚elJjMEH­Jme es{ HvJ°¤2²Š¸ÎjFI±ÉiE¦ XHNesHKL`¸ H
¤8²  T n2{ A?eliEjJ¯LNMEelHºJ[rDCE_`JmHNHNelFIiƒL`JjiExEHLNF&¤OwHºa ‹§EL`MEJ(HNBE³ FIíL`MEJ6HKJm_`elJmHqelHºJjß]BPOw‰LNF&¤Inæç
46587:9;=<?>
™ JmLvá±=aZ²­xEJmiEFwL`J¯L`MEJ(i]BE³bŽªJm_pFI2¤IÝÞHºeli&L`MEJSŽPeliPOQ_KƒJ‚rDC:OwiEHNesFIiFI®an  fQOwlBPOQL`JSL`MEJ(HNBE³
#  a¹±“áa$±“ˆaZ² ¤8² Y
\‡T
‘¤­7Uˆ0;“’ZsFI”8c •=7U–˜aZ—²[nv™HNesJmiEL&c¨›L`MEJ¯xEJj_`iEJjFwlOQL`L`J^elFIL`iEMEHvJ^áHN±ÍBE¦Q³ aZ²˜FIž vL`áME±“JkaZ²cIOwesfhiEJmxãi€áHK±ÍJm¦Q_`a$elJmHzˆŸ± ¤8{ ²¬MEžÌes‚M€á±Íj¦QFIaZih²‰fhˆŸJm_`cI¤(Jjž¥H¶HNáesiE±“aZjJ㲉ˆŸá±“¤baZ²/OwiE} x
HKCPsesLNL`esiEXc%L`MEJ(HNJm_NelJjHelihL`F$F]xEx^OwiEx&JmfhJmi&C:OQ_NL`Hj§ { J6FwŽEL†Oweli
›.ž \#  ‡T ±Í¦QaZ²já±Í±Í¦Q¦Qa%aZˆ² ¤8² ˆ \#  œ ±Í¦Qa$ላ±Í¦Q¤8a%²j±Íˆ‹¦Qa%¤8²ˆ0¦I²
ž \#  ‡T ±Í¦QaZ²já±Í¦Q±“aZa%² ˆ ¤8² ˆ \#  œ ±Í¦Qa$ˆ‹á±“aZ¤8²j²±Íˆ¦Qa%¤ ˆ0¦I²
ž \#  œ  ±Í¦Qa%ˆ‹¤8²j¤ ±Í¦Qa%ˆ0¦I² Έ \#  ‡T  ±Í¦QaZ²já±Í¦Q±“aZa%² ˆ ¤8² ˆ ±É¦Qa¨ˆ‹á¤8²j±“aZ±É¦Q² a$ˆ ¦I² 
#  Ó
± (
¸ 8
¤ ² \
ž¥¸ \ T a ˆ \#  ‡T ±É¦QaZá²j±“±“a%aZ²ˆ ¤8² ž‹sFIc­¦ºˆ ¦¤ ›‡Y
·vJjiEjJQ§G›.ž‹sFIc­¦ºˆ0›‰ÊI¦?§:OwiExHNF´›džÛ¦lFIc˜¦(ž‹lFIc En


 UIUC UNDERGRADUATE MATH CONTEST
APRIL 21, 2001, 10 am – 1 pm
SOLUTIONS
Problem 1
Given a positive integer n, let n1 be the sum of digits (in decimal) of n, n2 the sum of digits
of n1 , n3 the sum of digits of n2 , etc. The sequence {ni } eventually becomes constant, and
equal to a single digit number. Call this number f (n). For example, f (1999) = 1 since for
n = 1999, n1 = 28, n2 = 10, n3 = n4 = · · · = 1. How many positive integers n ≤ 2001 are
there for which f (n) = 9?
Solution. Since an integer is divisible by 9 if and only if its sum of digits is divisible by
9, the numbers n with f (n) = 9 are exactly the multiples of 9. Since 2001 = 9 · 222 + 3,
there are 222 such numbers below 2001.
Problem 2
Let x, y, and z be nonzero real numbers satisfying
1 1 1 1
+ + = .
x y z x+y+z
Show that xn + y n + z n = (x + y + z)n for any odd integer n.
Solution. From the given relation one obtains, after clearing denominators and simpli-
fying, (x + y)(x + z)(y + z) = 0. Hence x = −y, x = −z, or y = −z. In the first case,
xn + y n = 0 for odd n, and so xn + y n + z n = (x + y + z)n . The other cases are analogous.
Problem 3
Suppose that an equilateral triangle is given in the plane, with none of its sides vertical.
Let m1 , m2 , m3 denote the slopes of the three sides. Show that

m1 m2 + m2 m3 + m3 m1 = −3.

Solution. Let A, B, and C be the vertices of the triangle, labelled so that the path
ABCA is counter-clockwise, and let m1 , m2 , m3 denote the slopes of the three sides AB,
BC, and AC, respectively. Without loss of generality, we may assume that the vertex A
is located at the origin. Then m1 = tan θ, m2 = tan(θ + 2π/3), and m3 = tan(θ + π/3),
where θ is the angle between the positive x axis and AB. (Note that θ ≥ 0 if the triangle
lies entirely in the first quadrant; θ < 0 if the triangle extends into the fourth quadrant.)
Using the identity tan(x + y) = (tan x + tan y)/(1 − tan x tan y), we get, with T = tan θ,
√ √ √ √
T (T − 3) (T − 3) (T + 3) T (T + 3)
m1 m2 = √ , m 2 m3 = √ · √ , m 3 m1 = √ .
1+T 3 1+T 3 1−T 3 1−T 3

0
Adding these three terms and simplifying gives m1 m2 +m2 m3 +m3 m1 = −3, independently
of the value of T (and θ).

Problem 4
Let x1 ≥ x2 ≥ · · · ≥ xn > 0 be real numbers. Prove that
x1 x2 xn−1 xn x2 x3 xn x1
+ + ··· + + ≤ + + ··· + + .
x2 x3 xn x1 x1 x2 xn−1 xn

Qn−1
Solution. Set qi = xi /xi+1 . Then x1 /xn = i=1 qi , so the inequality to be proved can
be written as
n−1
X n−1
Y 1 n−1
X 1 n−1 Y
qi + ≤ + qi ,
i=1 i=1
q i i=1
q i i=1

or equivalently

n−1
X  n−1 n−1
1 Y Y 1
(∗) qi − − qi + ≤ 0.
i=1
qi i=1 i=1
qi

Let f (q1 , . . . , qn−1 ) denote the function on the left of (∗). The hypothesis that the xi are
non-increasing implies that qi ≥ 1 for all i. Since f (1, . . . , 1) = 0, to prove (∗) it therefore
suffices to show that the partial derivatives of f are ≤ 0 when qi ≥ 1 for all i. This is
indeed the case: we have
∂f 1 Y 1 Y 1
=1+ 2 − qj − 2
∂qi qi qi qj
j6=i j6=i
 
 
1  Y
= 1+ 2 1− qj  ≤ 0,
qi
j6=i

Q
since j6=i qj ≥ 1. (When n = 2, this last product is empty, but in that case the sums and
products on the left of (∗) reduce to a single term (corresponding to i = 1), and a direct
computation shows that the derivative of f with respect to q1 is equal to zero, so the last
inequality remains valid for this case.)

Problem 5
Suppose that q(x) is a polynomial satisfying the differential equation

d
7 {xq(x)} = 3q(x) + 4q(x + 1), −∞ < x < ∞.
dx

Show that q(x) is necessarily a constant.

1
Solution. The left-hand side of the given equation is 7xq 0 (x) + 7q(x), so the equation
simplifies to
Z x+1
0
(∗) 7xq (x) = −4q(x) + 4q(x + 1) = 4 q 0 (t)dt.
x

The left-hand side of (∗) is zero at x = 0, so by the mean value theorem for integrals
(which can be applied here since q(x) is a polynomial and hence has continuous derivatives
of all orders) there exists a number x1 ∈ (0, 1) with q 0 (x1 ) = 0. Setting x = x1 in (∗), we
obtain a number x2 ∈ (x1 , x1 + 1) with q 0 (x2 ) = 0. Repeating this process, we obtain an
infinite sequence x1 < x2 < · · · of values x at which q 0 (x) = 0. Since q 0 is a polynomial, q 0
must be identically zero. Hence q is constant.
Alternative solution: The above solution was the one we had in mind when posing the
problem. However, all students who correctly solved the problem, did so via the following
approach (or a variant of it): Write q(x) = an xn + an−1 xn−1 + · · · + a0 , where an 6= 0.
Then the left side of the differential equation is a polynomial of degree n with leading term
7an (n + 1)xn , while the right-hand side has leading term 7an xn . Equating the coefficients
of those terms, we obtain 7an (n + 1) = 7an ; since an 6= 0, this can only hold when n = 0,
i.e., when q(x) is constant.

Problem 6
P2n
Evaluate the sum k=n nk 2−k .

Solution. Let S(n) denote the given sum. We claim that S(n) = 1 for all n. Since
S(1) = 1, it suffices to show

that S(n

+ 1) =
S(n) for
all n. Writing k = n + 1 + h and
using the identity n+1+h
n+1 = n+1+h
h = n+h
h + n+h
h−1 for h ≥ 1, we have

n+1
X  n+1   n+1  
n+1 n + 1 + h −h X n + h −h X n + h −h
2 S(n + 1) = 2 = 2 + 2
h h h−1
h=0 h=0 h=1
n 
X n+h    n+1    
−h 2n + 1 −n−1 X n + 1 + h −h−1 2n + 2 −n−2
= 2 + 2 + 2 − 2
h n+1 h n+1
h=0 h=0
   
2n + 1 1 2n + 2
n n
= 2 S(n) + 2 S(n + 1) + − 2−n−1 .
n+1 2 n+1

Since 2n+2 2n+1

2n+1

= 2 2n+1


n+1
n+1 = n+1 + n n+1 , the last term is zero, so we have 2 S(n + 1) =
n n
2 S(n) + 2 S(n + 1), and hence S(n + 1) = S(n), as claimed.

2
 UIUC UNDERGRADUATE MATH CONTEST
APRIL 13, 2002, 10 am – 1 pm
SOLUTIONS
Problem 1
Without any numerical calculations, determine which of the two numbers eπ and π e is
larger.
Solution. Let a = eπ and b = π e . We will show that a > b. Since ln a = π ln e = π and
ln b = e ln π, and since taking logarithms preserves inequalities, we see that a > b holds
if and only if (∗) (ln e)/e > (ln π)/π. Now consider the function f (x) = (ln x)/x. We
have f 0 (x) = (1 − ln x)/x2 , so f is decreasing for x > e, and since π > e, it follows that
f (π) < f (e) which is equivalent to (∗).

Problem 2
Let 0ABC be a tetrahedron with three right angles at the point O. Let SA be the area
of the face opposite to the point A, i.e., the area of the triangle OBC, and define SB , SC ,
2 2 2 2
and SO analogously. Prove that SO = SA + SB + SC .
Solution. Place the tetrahedron so that its vertices are located at O = (0, 0, 0), A =
(a, 0, 0), B = (0, b, 0), and C = (0, 0, c). Clearly SA = bc/2, SB = ac/2, and SC = ab/2.
Moreover, the area SO of the triangle ABC is 1/2 times the area of the parallelogram
determined by the vectors AB = (−a, b, 0) and AC = (−a, 0, c), which in turn is given by
the magnitude of the cross product of these two vectors. Computing this cross product
gives (bc, ac, ab), so
1
S02 = (1/2)2 k(bc, ac, ab)k2 = (bc)2 + (ac)2 + (ab)2 = SA
2 2 2


+ SB + SC .
4

Problem 3
Let θn = arctan n. Prove that, for n = 1, 2, . . .,
1
θn+1 − θn < .
n2 +n

Solution. Using the fact that arctan x has derivative 1/(1 + x2 ), we obtain
Z n+1
dx
θn+1 − θn = arctan(n + 1) − arctan n =
n 1 + x2
Z n+1
dx 1 1 1
< 2
= − = .
n x n n+1 n(n + 1)
Problem 4
Determine, with proof, whether the (double) series
X  m mn
,
n
(∗)

taken over all pairs (m, n) of positive integers satisfying

(∗) n = 2, 3, . . . , m = 1, 2, . . . , n − 1

converges.
Solution. Split the range (∗) into the subranges (I) n = 2, 3, . . . , m ≤ n/2 and (II)
n = 2, 3, . . . , n/2 < m ≤ n − 1. It suffices to show that the series taken over each of these
two ranges converge.
In the range (I), we have (m/n)mn ≤ (1/2)mn . Summing this upper bound first over
n (from n = 2m to infinity) gives a geometric series P with sum (1/2)m(2m) /(1 − (1/2)m )
∞
which is at most (1/2) (with a lot to spare). Since n=1 (1/2)m converges, so does the
m

series (∗) over the subrange (I). To deal with the second subrange, we set h = n − m, so
that 1 ≤ h < n/2 in the range (II). Using the bounds (m/n) = (1 − h/n) ≤ e−h/n and
mn ≥ n2 /2, we obtain (m/n)mn ≤ exp{− nh · 12 n2 } = exp{− hn 2 }. Summing the last term
2
over n, from n = 2h to infinity, gives again a geometric series, with sum e−h /(1 − e−h/2 )
which is at most e−h (1 − e−1/2 )−1 . Summing the latter bound, from h = 1 to infinity,
we again obtain a convergent geometric series. Hence the series over the subrange (II)
converges as well.

Problem 5
Let a1 = 2, a2 = 4, a3 = 8, and for n ≥ 4 define an to be last digit of the sum of the
preceding three terms in the sequence. Thus the first few terms of this sequence of digits
are (in concatenated form) 248468828 . . .. Determine, with proof, whether or not the string
2002 occurs somewhere in this sequence.
Solution. First note that the sequence can be continued backwards in a unique manner
by setting an−1 = an+2 − an+1 − an mod 10. Doing so, one finds that the first four
terms prior to the given terms are 2, 0, 0, and 2. Thus, the string 2002 occurs in the
extended sequence. To show that it also occurs in the original sequence (i.e., to the right
of 2484 . . .), note that the sequence is uniquely determined, backwards and forwards, by
any three consecutive digits in the sequence. Since there are finitely many possibilities for
such triples of consecutive digits, one such triple must occur again in the sequence, and the
sequence is therefore is periodic (in both directions). In particular, any string that occurs
somewhere in the extended sequence, occurs infinitely often and arbitrarily far out along
the given sequence. Hence 2002 does occur in this sequence.
Problem 6
Call a set of integers A double-free if it does not contain two elements a and a0 with a0 = 2a.
Determine, with proof, the size of the largest double-free subset of the set {1, 2, . . . , 256}.
Solution. We will show that the maximal cardinality sought is 171. To prove that
the cardinality cannot exceed 171, suppose A ⊂ {1, 2, . . . , 256} is double-free. Given any
element a ∈ A, let a0 denote the odd part of a, so that a = a0 2i with a0 odd and i a
nonnegative integer. For each odd integer m, let Am denote the set of a ∈ A with a0 = m.
The sets Am , m = 1, 3, . . . , 255 partition the set A, so |A| = |A1 | + |A3 | + · · · + |A255 |. To
obtain an upper bound for |A| we consider |Am | for different ranges of m.
If (1) 128 < m ≤ 256, then there can be at most one a ∈ A with a0 = m, namely
a = m. Thus, the sum over |Am | for m in the range (1) is at most equal to the number of
odd m in this range, i.e., 64.
If (2) 64 < m ≤ 128, then any a ≤ 256 with a0 = m must be of the form a = m or
a = 2m, but because of the double-free condition at most one of these can belong to a.
Hence |Am | ≤ 1 for m in the range (2), and the sum of |Am | over such m is at most 32.
If (3) 32 < m ≤ 64, then a0 = m implies that a = m2i with i = 0, 1, or 2, but
the double-free condition again implies that at most two of these can belong to A. Hence
|Am | ≤ 2 in the range (3), and the sum of |Am | over m in this range is at most 16 · 2 = 32.
Similarly, considering the ranges (4) 16 < m ≤ 32, (5) 8 < m ≤ 16, (6) 4 < m ≤ 8,
(7) 2 < m ≤ 4 (i.e., m = 3), and (8) m = 1, we see that |Am | is at most 2 in the range (4),
3 in the ranges (5) and (6), 4 in the range (7), and 5 in the range 8, and the corresponding
sums over |Am | are bounded by 8 · 2 = 16, 4 · 3 = 12, 2 · 3 = 6, 1 · 4 = 4, and 1 · 5 = 5,
respectively. Adding up these bounds, we obtain

|A| ≤ 64 + 32 + 32 + 16 + 12 + 6 + 4 + 5 = 171.

To show that this bound can be achieved, take A to be the set of integers n ≤ 256 that
are of the form a0 2i with a0 odd and i = 0, 2, . . .. In this case, it is easy to check that the
inequalities for |Am | in the above argument become equalities, and so we have |A| = 171.
UIUC UNDERGRADUATE MATH CONTEST
April 12, 2003
Solutions

1. Let
99
z }| {
N = 9 + 99 + 999 + · · · + 99 . . . 9 .
Determine the sum of digits of N .
Solution. The answer is 99. To see this, evaluate N explicitly as
follows:
100
z }| {
N = (10 − 1) + (100 − 1) + · · · + (10 . . . 0 −1)
99 97
z }| { z }| {
= 11 . . . 1 0 − 99 = 11 . . . 1 011.

2. Evaluate
1 1 1
+ + + ···
1·2·3 3·4·5 5·6·7
Solution. Let S be the sum of the given series (which P is easily seen
to be convergent, e.g., by comparing it with the series ∞
n=1 n −2 ). We

will show that S = ln 2 − 1/2. Denoting by SN the N -th partial sum

of this series, we have
N N  
X 1 1X 1 1 1
SN = = −
2n(2n − 1)(2n + 1) 2 2n 2n − 1 2n + 1
n=1 n=1
N  
1X 1 1 1
= −2 +
2 2n − 1 2n 2n + 1
n=1

Letting UN = N
P PN
n=1 1/(2n) and VN = n=1 1/(2n − 1) denote the
partial sums over the even resp. odd terms in the harmonic series, we
can write the last expression as
 
1 1 1 1
SN = VN − 2UN + VN − 1 + = VN −UN − + .
2 2N + 1 2 2(2N + 1)
 But
2N
X (−1)n+1
VN − UN = ,
n
n=1
which converges to ln 2 as N → ∞. Hence S = limN →∞ SN = ln 2 −
1/2, as claimed.

3. Prove that the limit

n
1 Y 2
1/n
lim 2
n + i2
n→∞ n
i=1

exists and find its value.

Solution.Q We will show that the limit is equal to 2e−2+π/2 . Let
Pn = n−2 ni=1 (n2 + i2 )1/n . Factoring
Qn out (n2 )1/n from each term in
the product, we see that Pn = i=1 (1 + (i/n)2 )1/n , and hence
n  2 !
1X i
log Pn = log 1 + .
n n
i=1
R1
The term on the right is a Riemann sum for the integral I = 0 log(1+
x2 )dx, and therefore converges to this integral as n → ∞, i.e., we have
limn→∞ log Pn = I. Hence the limit limn→∞ Pn exists, and is equal to
eI . It remains to evaluate the integral I. This is a routine exercise in
integration by parts:
1 Z 1
2 x(2x)
I = x log(1 + x ) − 2
dx
0 0 1+x
Z 1 
2
= log 2 − 2− dx
0 1 + x2
1
π
= log 2 − 2 + 2 arctan x = log 2 − 2 + .
0 2

4. Let a1 , a2 , . . . be a sequence of positive real numbers, P∞ and let bn be the

arithmetic mean P of a1 , a2 , . . . , an . Prove that if n=1 1/an converges,
then so does ∞ n=1 1/bn .
P
Solution. Let Si = 2i ≤n<2i+1 an . Then, for each i ≥ 0 and
2 i+1 ≤n<2 , i+2
n
1X Si
bn = ak ≥ i+2 ,
n 2
k=1
and so
∞ ∞ ∞
X 1 1 X X 2i+2 1 X 22i
≤ + = +4 .
bn b1 Si b1 Si
n=1 i=0 2i+1 ≤n<2i+1 i=0

1
 Now, Si /2i is the arithmetic mean of the 2i numbers an , 2i ≤ n < 2i+1 .
By the arithmetic-harmonic mean inequality, this is at least equal to
P −1
the harmonic mean of these numbers, namely 2i 2i ≤n<2i+1 1/an .
Hence,
22i X 1
≤ ,
Si i i+1
an
2 ≤n<2

and it follows that

∞ ∞
X 1 1 X 1
≤ +4 .
b b1 a
n=1 n i=0 n

Thus, the convergence of ∞

P P∞
n=1 1/an implies that of n=1 1/bn .

5. Is it possible to arrange the numbers 1, 2, . . . , 2003 in a row so that

each number, with the exception of the two numbers at the left and
right end, is either the sum or the absolute value of the difference of
the two numbers surrounding it?
Solution. The answer is no, as can be seen by considering the parity
of the numbers. The given condition implies that, except for the two
integers at the left and right ends of the row, an integer n in the row
must be surrounded by two odd integers or two even integers in case
n is even, and by an odd and an even integer, in case n is odd. Thus,
after reducing the numbers in the row modulo 2, the only blocks of
three that can occur are 000, 011, 101, and 110. It follows that the
entire row is determined (modulo 2) by its first two elements: If the
row starts with 00, all elements in the row must be 0; if it starts with
01, the row is of the form 011011011 . . .; if it starts with 10, it is of
the form 101101101 . . .; and if it starts with 11, it must be of the form
110110110 . . .. In the first case, all numbers would have to be even,
and in the other cases at least 2[2003/3] = 1334 of the numbers would
have to be odd. Since exactly 1002 of the given numbers are odd, we
obtain a contradiction in all of these cases.

6. Find the smallest integer n > 11 for which there is a polynomial of

degree n with the following properties:

(a) P (k) = k 11 for k = 1, 2, . . . , n;

(b) P (0) is an integer;
(c) P (−1) = 2003.

Solution. The answer is n = 166. To see this, suppose first that P (x)
is a polynomial of degree n satisfying the three conditions (a), (b),
and (c). Consider the polynomial Q(x) = P (x) − x11 . Then Q(x) has
degree at most n, and condition (a) implies that Q(x) has a root at

2
each of the numbers k = 1, 2, . . . , n. It follows that Q(x) is of the form
Q(x) = C(x − 1)(x − 2) . . . (x − n) for some constant C. To determine
C, we use condition (c), which implies

2003 = P (−1) = Q(−1) + (−1)11 = C(−1)n (n + 1)! − 1.

Hence C = 2004(−1)n /(n + 1)!. Now,

2004
P (0) = Q(0) = C(−1)n n! = ,
n+1
so condition (b) holds if and only if n + 1 is a divisor of 2004. Thus,
any polynomial P (x) of degree n satisfying all three conditions (a)–(c)
is of the form P (x) = C(x − 1)(x − 2) . . . (x − n) + x11 with C as
above and n + 1 a divisor of 2004. Conversely, it is easy to see that
any polynomial of this form satisfies (a)–(c). Therefore the number n
sought in the problm is the smallest number n > 11 such that n + 1
divides 2004, i.e., n is 1 less than the smallest divisor of 2004 that
exceeds 13. Factoring 2004, we get 2004 = 22 · 3 · 167. Hence, the
smallest divisor of 2004 exceeding 13 is 167, and so n = 166.

3
UIUC UNDERGRADUATE MATH CONTEST
April 17, 2004
Solutions

1. Suppose a, b and c are integers such that the equation ax2 + bx + c = 0

has a rational solution. Prove that at least one of the integers a, b and
c must be even.
Solution. We argue by contradiction. Suppose a, b, and c are all odd
and that x = p/q, with (p, q) = 1, is a rational solution of ax2 +bx+c =
0. Clearing denominators, we obtain (∗) ap2 + bpq + cq 2 = 0. Since we
assumed p and q are relatively prime, they cannot be both even. If p
and q are both odd, then, in view of our initial assumption that a, b
and c are odd, each term on the left of (∗) is odd, so the left-hand side
is odd and we have a contradiction. If exactly one of p and q is odd,
then exactly two of the three terms on the left of (∗) are even, and so
the left-hand side is odd and we again arrive at a contradiction. Thus,
a contradiction arises in either case, and a, b, and c therefore cannot
all be odd.

2. Let Fn denote the Fibonacci sequence, defined by F1 = 1, F2 = 1, and

Fn+1 = Fn + Fn−1 for n ≥ 2. Evaluate
∞
X Fk
.
3k
k=1

Solution. First note that, by induction, we have Fn P≤ 2n for all n, so

the given series is majorized by the geometric series ∞ k
k=1 (2/3) , and
hence is (absolutely) convergent. Let S denote the sum of this series.
Using the Fibonacci recurrence for terms with k ≥ 3, we obtain
∞ ∞
F1 F2 X Fk−1 X Fk−2
S= + 2 + +
3 3 3k 3k
k=3 k=3
∞ ∞
1 1 1 X Fk 1 X Fk
= + + +
3 9 3 3k 9 3k
k=2 k=1
 
1 1 1 1 1
= + + S− + S.
3 9 3 3 9
 Solving for S we get
1
3 3
S= 1 1 = .
1− 3 − 9
5

3. Define a sequence {an } by a0 = 0, a1 = 1, a2 = 2, and

an = an−1 + an−2 − an−3 + 1

for n ≥ 3. Find, with proof, a2004 .

Solution. Let bn = an − an−1 . From the given recurrence for an we
obtain
bn = bn−2 + 1 (n ≥ 3)
with initial conditions b1 = 1, b2 = 1. This implies, by induction,
b2n = b2n−1 = n for all n ≥ 1. Hence
n
X n
X
a2n = a0 + (a2k − a2k−2 ) = (b2k + b2k−1 )
k=1 k=1
n
X n(n + 1)
= (2k) = 2 = n(n + 1).
2
k=1

Hence a2004 = 1002 · 1003 = 1005006.

4. Let f (x) = a1 sin x + a2 sin 2x + · · · + an sin nx, where the ak are real
numbers. Suppose that f (x) satisfies |f (x)| ≤ | sin x| for all real x.
Show that |a1 + 2a2 + · · · + nan | ≤ 1.
Solution. We have f 0 (x) = nk=1 kak cos kx, and so f 0 (0) = nk=1 kak .
P P
Thus, the claim is equivalent to |f 0 (0)| ≤ 1. Now, by the defini-
tion of the derivative, we have f 0 (0) = limx→0 f (x)/x, and since
|f (x)| ≤ | sin x| ≤ |x| for all x, the inequality |f 0 (0)| ≤ 1 follows.

5. Let
n h i
X n
f (n) = ,
k
k=1

where [x] denotes the greatest integer ≤ x, and let g(n) = (−1)f (n) .
Find, with proof, g(2004).
Solution. Note that g(n) = 1 or g(n) = −1 depending on whether
f (n) is even or odd. Since, for each k, [n/k] counts the number of
positive integers m for which km ≤ n, the function f (n) is equal to
the number of pairs (k, m) of positive integers that satisfy km ≤ n.
Among these pairs, the number of those with k 6= m is even since we

1
 can pair up (k, m) with (m, k). Hence, modulo 2, f (n) is congruent
to the number of remaining pairs in the above count, i.e., those of the
√
form (k, k) with k ≤ n. Clearly, there are [ n] such k, so we have
√ √
f (n) = (−1)[ n] .
f (n) ≡ [ n] modulo 2, and therefore g(n) √ = (−1)
Since 442 = 1936 and 452 = 2025, we have [ 2004] = 44, so g(2004) =
(−1)44 = 1.

6. Find, with proof, all functions f (x) that are defined for real numbers
x with |x| < 1, continuous at x = 0, and which satisfy

f (x)
f (0) = 1, f (x2 ) = (|x| < 1).
1+x

Solution. First note that the function f (x) = 1/(1 − x) satisfies the
given conditions. We will show that this is the only solution. Suppose
f (x) is a solution, and let g(x) = (1 − x)f (x). Note first that since,
by assumption, f (x) is continuous at x = 0, g(x) is also continuous at
x = 0. From the given relation for f (x) we obtain g(0) = f (0) = 1,
and for |x| < 1,

(1 − x2 )f (x)
g(x2 ) = (1 − x2 )f (x2 ) = = g(x).
1+x
Iterating this identity, we get
n
g(x) = g(x2 )
n
for any positive integer n. Since, for |x| < 1, x2 tends to 0 as n → ∞
and g is continuous at 0, it follows that
n
g(x) = lim g(x2 ) = g(0) = 1
n→∞

for all x with |x| < 1. Hence f (x) = g(x)/(1 − x) = 1/(1 − x), so the
function 1/(1 − x) is indeed the only solution.

2
UIUC UNDERGRADUATE MATH CONTEST
April 16, 2005
Solutions

1. For which positive integers n does the equation

a1 a2 + a2 a3 + · · · + an−1 an + an a1 = 0

have a solution in integers ai = ±1? Explain!

Solution. If n is divisible by 4, then letting a1 , a2 , . . . , an be the
pattern (1, 1, −1, −1) repeated n/4 times, the terms ai ai+1 in the above
sum are alternately 1 and −1, and their sum is equal to 0. Thus, for
all n divisible by 4, the given equation has a solution.
We now show that if n is not divisible by 4, there is no solution in
integers ±1. This is obvious in the case n is odd, since then the left-
hand side of the equation consists of a sum of an odd number of terms,
each ±1, and thus cannot be equal to 0.
It remains to consider the case when n = 2m, where m is odd. Suppose
there exist integers ai = ±1, i = 1, 2, . . . , n, for which the above
equation
Pn holds. Set an+1 = a1 , so that the equation can be written as
i=1 ai ai+1 = 0. Since n = 2m and each of the terms ai ai+1 is ±1,
exactly m of these terms be equal to 1, and m must be equal to −1.
Hence the product of all 2m terms must be equal to (1)m (−1)m = −1,
since m was assumed to be odd. On the other hand, a direct calculation
shows that the product is equal to
n
Y n
Y
ai ai+1 = a2i = 1,
i=1 i=1

so we have reached a contradiction. Thus, no solution exists when

n = 2m with m odd.

Rπ
2. Evaluate the integral I = 0 ln(sin x)dx.
Solution. We will show that I = −2π ln 2.
 Using the identity sin x = 2 sin(x/2) cos(x/2) we can write I as
Z π Z π Z π
I= ln 2dx + ln sin(x/2)dx + ln cos(x/2)dx
0 0 0
Z π/2 Z π/2
= π ln 2 + 2 ln sin ydy + 2 ln cos ydy
0 0
= π ln 2 + 2I1 + 2I2 ,

say. Setting y = π/2 − u and using the relation cos(π/2 − u) = sin u,

we see that I1 = I2 , and since sin x = sin(π − x), we have also
Z π/2 Z π
2I1 = (ln sin x + ln sin(π − x))dx = ln sin xdx = I.
0 0

Hence the above relation implies I = π ln 2 + 4I1 = π ln 2 + 2I, and

solving for I gives I = −π ln 2, as claimed.

3. Suppose 3 players, P1 , P2 , P3 , seated at a round table, take

turns rolling a die. Player P1 rolls first, followed by P2 , etc.
Once a player has rolled a 6, the game is stopped and that
player is declared the winner. If no 6 has been obtained after
each of P1 , P2 , P3 have rolled the die once, player P1 gets to
roll again, followed by P2 , etc. Find the probability that the
first player, P1 , wins this game.
Solution. Let N denote the number of “rounds” in the game, i.e.,
the number of rolls needed until a six shows up (including the roll at
which the six shows up). Then the first player wins if and only if N is
equal to one of the values 1, 4, 7, . . . , i.e., if N is of the form N = 3k+1,
k = 0, 1, . . . . Now, N = n for a given value n if and only no 6 is rolled
in the first n − 1 rolls and a 6 appears in the n-th roll; the probability
for this event is pn = (5/6)n−1 (1/6). Hence the probability that player
P1 wins is
∞
X ∞
X
p3k+1 = (5/6)3k+1−1 (1/6)
k=0 k=0
∞
1 X 1 36
= ((5/6)3 )k = = .
6 6(1 − (5/6)3 ) 91
k=0

4. Prove that, for any real numbers x and y in the interval (0, 1),

x + y x+y
 
≤ xx y y .
2

1
 Solution. Let f (x) = log xx = x log x. Taking logarithms and divid-
ing both sides by 2, the given inequality is equivalent to
 
1 1
f (x + y) ≤ (f (x) + f (y)). (1)
2 2

Now note that f 0 (x) = log x + 1, and f 00 (x) = 1/x > 0 for positive
x, so the function f (x) is convex (i.e., concave up) for x > 0. Since
any convex function satisfies (1), the result follows. (The fact that (1)
holds for any convex function f is easily seen by sketching the graph
of a convex function and comparing the value of the function at the
midpoint of an interval [x, y], with the average of the values of the
function at the two end points x and y.)

5. Determine, with proof, whether the series

∞
X 1
n1.8+sin n
n=1

converges or diverges.
√
Solution. We show that the series diverges. Note that sin x ≤ − 3/2
whenever x falls into one of the intervals

Ik = [(2k + 4/3)π, (2k + 5/3)π], k = 0, ±1, ±2, . . .

Each of these intervals has length π/3 > 1 and the gap between two
successive intervals has length < (5/3)π < 6. Hence, among any 7
consecutive integers n at least one must fall into one
√ of the intervals
Ik ; for this value of n we have 1.8 + sin n < 1.8 − 3/2 < 1, so the
corresponding term in the above series is greater than 1/n. Therefore
the above series is bounded from below by
∞ 7m+7 ∞ ∞
X X 1 X 1 1X 1
≥ = = ∞,
n1.8+sin n 7m + 7 7 m
m=0 n=7m+1 m=0 m=1

and hence diverges.

6. Let aQ1 , . . . , an be a set of positive integers such that the prod-

uct ni=1 ai has fewer than n distinct prime divisors. Prove
that there exists a nonempty subset I ⊂ {1, . . . , n} such that
Q
i∈I ai is a perfect square.
Solution. Let p1 , . . . , pm denoteQthe prime divisors of ni=1 ai . Then
Q
αij
each ai can be written as ai = m j=1 pj , with nonnegative
Q integers
αij , and for any subset Q I α⊂ {1, 2, . . . , n}, P
the product i∈I aj has
prime factorization m j=1 p Ij , with α
Ij = i∈I αij . Such a product

2
is a perfect square if and only if the exponents αIj , j = 1, . . . , m, are
all even, i.e., if and only if the system of congruences
X
αij ≡ 0 mod 2, j = 1, . . . , m (1)
i∈I

holds. Setting i = 1 if i ∈ I, and i = 0 otherwise, (1) can be written

as
Xn
αij i ≡ 0 mod 2, j = 1, . . . , m (2)
i=1

Thus, we need to show that, if m < n, then the latter system has a
solution i ∈ {0, 1}, with i 6= 0.
To this end we consider first the system
n
X
αij xi = 0, j = 1, . . . , m, (3)
i=1

in the variables x1 , . . . , xn . This is a system of m linear equations

with integer coefficients in n variables. Since, by assumption, m < n,
by elementary linear algebra this system has a solution in integers
x1 , . . . , xn that are not all zero. Dividing through by the greatest
common divisor, we may further assume that the xi ’s do not have a
common prime divisor and, in particular, are not all even. Hence,
defining i = 1 if xi is even, and i = 0 otherwise, and reducing both
sides of (3) modulo 2, we obtain a nontrivial solution (1 , . . . , n ) to
(2).

3
UIUC UNDERGRADUATE MATH CONTEST
April 8, 2006
Solutions

1. Determine,
√ without numerical
√ calculations, which of the two numbers
√ 2006 √ 2005
2005 and 2006 is larger.
√
√ 2006
Solution. We will show that √ the first √
of the two numbers, 2005 ,
is the larger one. Taking the ( 2005 · 2006)-th root √
of the two given
√ 1/ 2005
numbers,√ this amounts to showing that 2005 is larger than
√ 1/ 2006
2006 . This will follow provided we can show that the√func-
tion √f (x) = x1/x is decreasing in an interval that includes 2005
and 2006. To do this, we compute the derivative of f (x): Writing
f (x) = exp{(ln x)/x}, we have, by the chain rule,
  
0 ln x x(1/x) − (ln x) · 1 1 − ln x
f (x) = exp 2
= x1/x .
x x x2

that f 0 (x) is negative, and hence f (x) is decreasing, for

Thus we see √
x > e. Since 2005 > e, this is what we need, with plenty of room to
spare.
2
2. Let f (x) = ex sin x. Find, with proof, f (2006) (0), the 2006th derivative
of f at 0.
Solution. We use the connection between
P∞ derivatives at 0 and
coefficients of Taylor series: if f (x) = n
n=0 n x is the Taylor ex-
a
pansion of f at 0, then an = f (n) (0)/n!. Now, the Taylor series of
2 2
f (x) = ex P sin x is the product of the Taylor series for ex and sin x,
which are ∞ 2n ∞ n 2n+1 /(2n + 1)!, respectively.
P
n=0 x /n! and n=0 (−1) x
Since the first of these series involves only even powers of x, and the
second involves only odd powers of x, their product contains only odd
powers of x. Hence, all even-indexed coefficients in the Taylor series
for f (x) are 0 and so, in particular, f (2006) (0) = a2006 (2006)! = 0.

3. Evaluate the series

∞
X 1 1 1 1
n = + + +· · ·
20062n − 2006 −2 1
2006 − 2006 −1 2
2006 − 2006 −2 2006 − 2006−4
4
n=0

and express it as a rational number.

1
Solution. We claim that the given series is equal to 1/2005.
More generally, let
∞ n N n
X x2 X x2
S(x) = , SN (x) = .
n=0
1 − x2n+1 n=0
1 − x2n+1

Note that setting x = 1/2006 in S(x) gives the series of the problem.
We will show that, for any x with 0 < x < 1,
x
S(x) = , (∗)
1−x
and so, in particular, S(1/2006) = (1/2006)(1 − 1/2006) = 1/2005, as
claimed.
We give two proofs for (∗).

First proof of (∗). We use a “telescoping” argument, based on the

elementary identity
n
x2 1 1
= − .
1 − x2n+1 1 − x2n 1 − x2n+1
Substituting this into the partial sums SN (x) (we work with partial
sums rather than the infinite series S(x) in order to avoid possible
convergence problems), we get
   
1 1 1 1
SN (x) = − + −
1 − x 1 − x2 1 − x2 1 − x4
 
1 1
+ ··· + −
1 − x2N 1 − x2N +1
1 1
= − .
1 − x 1 − x2N +1
As N → ∞ here, the last term tends to 1, and we obtain
1 x
S(x) = lim SN (x) = −1= ,
N →∞ 1−x 1−x
proving (∗).

Second proof of (∗). A completely different proof of (∗) goes as

follows: First expand each term in S(x) into a geometric series:
∞ ∞ ∞ X
∞
2n 2n+1 k n (1+2k)
X X X
S(x) = x x = x2 .
n=0 k=0 k=0 n=0

Note that all terms in this double series are positive, so we can rear-
range the terms in this series. Since each positive integer has a unique
decomposition as a power of 2 times an odd positive integer, the expo-
nents 2n (1 + 2k) in the latter double series correspond in a one-to-one
manner to the positive integers, and the latter double sum, and hence
S(x), is therefore exactly ∞ m
P
m=1 x = x/(1 − x). This again gives (∗).

2
4. For any positive integer n, define a sequence {nk }∞ k=0 as follows: Set
n0 = n, and for each k ≥ 1, let nk be the sum of the (decimal)
digits of nk−1 . For example, for n = 1729 we get the sequence
1729, 19, 10, 1, 1, 1, . . . . In general, for any given starting value n, the
resulting sequence {nk } eventually stabilizes at a single digit value.
Let f (n) denote this value; for example, f (1729) = 1. Determine
f (22006 ).
Solution. The key to this problem is the fact (which underlies the
well-known disibility test by 9) that the sum of the decimal digits of a
number has the same remainder modulo 9 as the number itself. Thus,
each of the numbers nk in the given sequence has the same remainder
modulo 9. In particular, f (n) has the same remainder modulo 9 as
n, and since f (n) must be among {1, 2, . . . , 9}, the remainder of n
modulo 9 determines f (n) uniquely. Thus, it remains to determine the
remainder of 22006 upon division by 9. This is easy using congruence
calculus: We have 26 = 64 ≡ 1 mod 9, and so

22006 = 4 · 22004 = 4 · (26 )334 ≡ 4 · 1334 = 4 mod 9.

Hence f (22006 ) = 4.

5. Let D = {d1 , d2 , . . . , d10 } be a set of 10 distinct positive integers. Show

that any sequence of 2006 integers from D contains a block of one
or more consecutive terms whose product is the square of a positive
integer.
Solution. Let a set D and a sequence {ai }2006 Qnai ∈ D be given
i=1 with
as in the problem. For n = 1, 2, . . . , 2006 let Pn = i=1 ai denote the
product of the first n terms and set P0 = 1,
Note that anyQnblock of consecutive terms from the sequence {ai } is
of the form i=m+1 ai = Pn /Pm for some integers m and n with
0 ≤ m < n ≤ 2006. Thus, the problem amounts to showing that, for a
suitable choice of (m, n) with 0 ≤ m < n ≤ 2006, Pn /Pm is a perfect
square. Since eachQai is among the numbers d1 , d2 , . . . , d10 , each Pn is
of the form Pn = 10 αin
i=1 di , where the exponents αin are nonnegative
integers. (With αi0 = 0 for i = 1, 2, . . . , 10 this also holds for P0 .)
Note that, by the definition of Pn as the product of the first n terms of
the sequence {ai }, the exponents αin are non-decreasing Qin n, for each
i. Thus, for 0 ≤ m < n ≤ 2006, Pn /Pm = ni=m+1 ai = ni=1 dαi in −αim ,
Q
where the exponents αin −αim are nonnegative integers. Hence Pn /Pm
will certainly be a perfect square if the numbers αkn − αkm , k =
1, . . . , 10, are all even.
The latter condition holds if and only if the vectors αn = (α1n , . . . , α10n )
and αm = (α1m , . . . , α10m ) have the same parity in each component.
Now, since each αn , n = 0, 1, 2, . . . , 2006, is a vector with 10 com-
ponents, there are 210 = 1024 possible parity combinations for these

3
 components. Since we have 2007 > 1024 such vectors, by the pigeon-
hole principle two of these must have the same parity combination.
Denoting the indices of these two vectors by m and n (ordered so that
0 ≤ m < n ≤ 2006), we then have that Pn /Pm is a perfect square, as
claimed.

6. Given a real number α with 0 ≤ α < 1, define an α-step a move of unit

length in the xy-plane in the direction 2πα (measured counterclockwise
with respect to the horizontal). For example, if you are located at the
origin, a (1/2)-step (corresponding to an angle of π, or 180 degrees)
will put you at position√(−1, 0), a (1/3)-step (120 degrees) will place
you at the point (−1/2, 3/2), a (1/4)-step you will place you at (0, 1),
and after performing all√ three of these steps, √
you will be located at
(−1 + (−1/2) + 0, 0 + 3/2 + 1) = (−3/2, 1 + 3/2).
Suppose you start at the origin and perform a sequence of (p/q)-steps,
where p and q range over all pairs of integers (p, q) with 1 ≤ p < q ≤
2006, giving a total of 2005 · 2006/2 = 2011015 steps of unit length.
Where will you be located at the end of these 2011015 steps?
Solution. At first glance, this problem looks impossibly difficult,
but it becomes doable when approached the right way.
If we think of the xy-plane as the complex plane with a point (x, y)
corresponding to the complex number z = x+iy, then moving by an α-
step corresponds to adding e2πiα to the complex number corresponding
to your current location. Thus, the location after performing the given
sequence of moves is the determined by the sum
2006 q−1
2πi pq
XX
S= e ,
q=2 p=1

so it remains to evaluate this double sum. To this end note that

each of the inner sums here is a finite geometric series which is easily
evaluated:
q−1 
X p e2πi(q/q) − e2πi/q
e2πi/q = = −1.
p=1
e2πi/q − 1

Hence, for each value of q, the corresponding inner sum contributes

an amount −1 to S, and since there are 2005 values of q, we get
S = −2005. This corresponds to the location (−2005, 0) in the xy-
plane.

4
 U OF I UNDERGRADUATE MATH CONTEST
April 14, 2007
Solutions
1. Let
f (n) = (12 + 1)1! + (22 + 1)2! + · · · + (n2 + 1)n!.
Find a simple general formula for f (n).
Solution. We will show by induction that
(∗) f (n) = n(n + 1)!
for n = 1, 2, . . . . For n = 1, (∗) holds trivially. Let now n ≥ 1, and assume that (∗)
holds for this value of n. Then
f (n + 1) = f (n) + ((n + 1)2 + 1)(n + 1)!
= n(n + 1)! + (n2 + 2n + 2)(n + 1)!
= (n2 + 3n + 2)(n + 1)!
= (n + 1)(n + 2)(n + 1)! = (n + 1)(n + 2)!,
which proves (∗) with n + 1 in place of n, completing the induction.

2. Prove that for every odd integer n the sum 1n + 2n + · · · + nn is divisible by n2 .

Solution. For n = 1, the assertion is trivially true. Suppose therefore that n is
greater than 1 and odd. Then
(n−1)/2
X
1n + 2n + · · · + nn = (k n + (n − k)n ) + nn
k=1
(n−1)/2      
X
n n n−1
n 1 n 1 n−1
= k +n + n (−k) + · · · + n (−k) + (−k) + nn .
n
1 n−1
k=1

Since n is odd, the terms k n and (−k)n cancel each other out. Of the remaining
terms, all divisible by n2 , so the assertion follows.

3. For any positive integer k let f1 (k) denote the sum of the squares of the digits of
k (when written in decimal), and for n ≥ 2 define fn (k) iteratively by fn (k) =
f1 (fn−1 (k)). Find f2007 (2006).
Solution. Starting from k = 2006 and iterating the map “sum of squares of
the digits” we obtain the chain 2006 → 40 → 16 → 37 → 58 → 89 → 145 →
42 → 20 → 4 → 16, after which the sequence repeats itself, with period 8. Thus,
f1 (2006) = 40, f2 (2006) = 16, etc., and fn+8 (2006) = fn (2006) for all integers n ≥ 1.
Since 2007 = 8 · 250 + 7, it follows that follows that f2007 (2006) = f7 (2006) = 42.
4. Determine, with proof, whether the series
∞ 
1 n
X   
e− 1+
n
n=1
converges.
Solution. We claim that the series diverges. To P show this, we first derive a bound for
ln(1 + x), using the Taylor expansion ln(1 + x) = ∞ n=1 (−x)
n+1 /n. For 0 < x < 1 the

latter series is an alternating series with decreasing terms, so the successive partial
sums of this series alternately undershoot and overshoot the limit, ln(1 + x). In
particular, we have, for 0 < x < 1,
x2 x3 x2 x2 x2
ln(1 + x) ≤ x − + ≤x− + =x− .
2 3 2 3 6
It follows that, for n ≥ 2,
1 n
    
1
1+ = exp n ln 1 + }
n n
  
1 1
≤ exp n − = e1−1/(6n) .
n 6n2
Hence, if an denotes the n-th term of the given series, we have the lower bound
1 n
   
1−1/(6n) −1/(6n)
an = e − 1 + ≥e−e =e 1−e
n
By another application of the alternating series properties, we see that, for 0 ≤ x ≤ 1,
∞
X (−x)k x2 x
e−x = ≤1−x+ ≤1− .
k! 2 2
k=0

Combining this with the above inequality for an gives

  

−1/(6n)
 3 e
an ≥ e 1 − e ≥e 1− 1− = ,
n 12n
for n ≥ 2. Since the harmonic series ∞
P
n=1 1/n diverges, it follows that the series over
an diverges as well.
Alternate solution (due to Ben Kaduk). By the binomial theorem, we have for
n≥2
n  
1 n X n 1
 
1+ =
n k nk
k=0
n
X 1 n(n − 1) . . . (n − k + 1)
=1+
k! nk
k=1
  X n
1 1 1 1
≤1+ + 1− +
1! 2! n k!
k=3
∞
X 1 1 1
≤ − =e− .
k! 2n 2n
k=0

1
 Hence an ≥ 1/(2n) for n ≥ 2, and comparison with the harmonic series yields the
divergence of ∞
P
n=1 n .
a

5. Suppose P1 , . . . , P12 are points on the unit circle x2 + y 2 = 1, and let

X
S = S(P1 , . . . , P12 ) = |Pi Pj |2 ,
1≤i<j≤12

where |Pi Pj | denotes the distance between Pi and Pj . In other words, S is the sum
of the squares of the pairwise distances between the points P1 , . . . , P12 . Determine,
with proof, the largest possible value of S among all choices of the points P1 , . . . , P12
on the unit circle.
Solution. We represent the points Pi by complex numbers zi . Points on the unit
circle correspond to complex numbers of absolute value 1, and the distance between
two such points is the absolute value of the difference between the corresponding
complex numbers. We thus can write
X
S = S(z1 , . . . , z12 ) = |zi − zj |2
1≤i<j≤12

and the problem reduces to that of maximizing this function subject to the condition
that |zi | = 1 for all i.
Since |zi − zi | = 0 and |zi − zj | = |zj − zi |, if we extend the above sum over 1 ≤ i <
j ≤ 12 to all pairs of indices (i, j), with 1 ≤ i, j ≤ 12, we count each summand twice.
Thus, S is exactly equal to half this extended sum, i.e.,
12 12
1 XX
S= |zi − zj |2
2
i=1 j=1

Using the assumption that |zi | = 1, we can expand the summands into

|zi − zj |2 = (zi − zj )(zi − zj )

= |zi |2 + |zj |2 − zi zj − zi zj = 2 − zi zj − zi zj .

Substituting this into the above identity for S, we get

12 12
1 XX
S= (2 − zi zj − zi zj )
2
i=1 j=1
 2

12
1 X
= 2 · 122 − 2 zi 
2
i=1

Thus, S ≤ 122 = 144 for any choice of the numbers zi (subject to |zi | = 1), and
S = 144 whenever
X12
zi = 0.
i=1

2
 The latter condition can be achieved, for example, by choosing the first 6 points,
z1 , . . . , z6 , arbitrarily on the unit circle, and letting the remaining 6 points be the
points located diametrically opposite the 6 chosen points, i.e., z7 = −z1 , . . . , z12 =
−z6 . Hence 144 is the maximal value of S.

6. Let an (n = 0, 1, . . .) be a bounded sequence of positive integers that satisfies

an a2n−1 + a2n−2 + · · · + a2n−2007 = a3n−1 a1 +a3n−2 a2 +· · ·+a3n−2007 a2007

(n ≥ 2007).

Show that the sequence eventually becomes periodic.

Solution. Let an denote the 2007-tuple (an , . . . , an−2006 ). The given recurrence can
be rewritten as
a3n−1 a1 + a3n−2 a2 + · · · + a3n−2007 a2007
(1) an = .
a2n−1 + a2n−2 + · · · + a2n−2007

Thus the value of an−1 , along with that of the (constant) tuple a2007 = (a2007 , . . . , a1 ),
completely determines that of an , hence, by induction, the values of an+k and an+k
for all k ≥ 0.
Since the numbers an are bounded positive integers, there are only finitely many
possible values for the tuple an . By the pigeonhole principle, it therefore follows that
there exist positive integers n < m with an = am . In view of the above remark, this
implies an+k = am+k for all integers k ≥ 0. Thus, an is eventually periodic with
period m − n.
Note. In the original version of this problem, the assumption that the an be positive
was missing. This assumption ensures that the denominator in (1) is positive, so the
given recurrence can be written in the above form. Ben Kaduk constructed a example
showing that, i if the an are allowed to be 0, the conclusion need not not hold.

3
 U OF I UNDERGRADUATE MATH CONTEST
March 8, 2008
Solutions

1. Does there exist a multiple of 2008 whose decimal representation involves only a single
digit (such as 11111 or 22222222)?
Solution. The answer is yes; specifically, we will show that there exists a multiple
of 2008 of the form 888 . . . 8.
Given a digit d ∈ {1, 2, . . . , 9}, let Nd,k be the number whose decimal representation
consists of k digits d. Note that
k−1
X d(10k − 1)
Nd,k = d 10i = .
9
i=0

Thus, a given positive integer m has a multiple of this form if and only if the con-
gruence (1) d(10k − 1) ≡ 0 mod 9m has a solution k. We apply this with d = 8
and m = 2008. Then (1) is equivalent to (2) 10k − 1 ≡ 0 mod 9(2008/8) = 9 · 251.
Since 10k ≡ 1k = 1 mod 9 for any positive integer k, (2) is equivalent to (3) 10k ≡
1 mod 251. Now, 251 is prime, so by Fermat’s Theorem, we have 10251−1 ≡ 1 mod 251.
Thus, (3) holds for k = 250, and so the number N8,250 = |88 {z
. . . 8} is divisible by 2008.
250

R1
2. What is the maximal value of the integral 0 f (x)x2008 dx among all nonnegative
R1
continuous functions f on the interval [0, 1] satisfying 0 f (x)2 dx = 1?
R1
Solution. Let I = 0 f (x)x2008 dx be the integral whose maximum we seek. Apply-
ing the integralRversion of Cauchy-Schwarz with the functions f (x) and x2008 , we get,
1
for any f with 0 f (x)2 dx = 1,
Z 1 Z 1
2 2 1
I ≤ f (x) dx x4016 dx = .
0 0 4017
√
Thus, I ≤√1/ 4017. Moreover, this upper
R1 bound is achieved by√taking f (x) = cx2008 ,
with c = 4017 (so that f satisfies 0 f (x)2 dx = 1). Thus, 1/ 4017 is the maximal
value for I.

3. Find, with proof, all functions f : R → R satisfying

|f (x + y) − f (x − y) − y| ≤ y 2

for all x, y ∈ R.
 Solution. Any function of the form fc (x) = x/2 + c, where c is a constant, satisfies
fc (x + y) − fc (x − y) − y ≡ 0 for all x and y, and hence trivially satisfies the above
inequality. We will show that these are the only such functions.
Suppose f (x) is solution to the given inequality. Set g(x) = f (x) − x/2. Then

|g(x + y) − g(x − y)| = |f (x + y) − (x + y)/2 − f (x − y) + (x − y)/2 − y|

= |f (x + y) − f (x − y) − y| ≤ y 2

for all x, y ∈ R. Dividing by y and letting y → 0, we conclude

g(x + y) − g(x − y)
lim = lim y = 0,
y→0 y y→0

for all x ∈ R. Thus g is a differentiable function, with derivative equal to 0 everywhere.

It follows that g must be a constant function, say, g(x) = c for all x. Therefore
f (x) = x/2 + g(x) = x/2 + c, as claimed.

4. Let a1 = 1, a2 = 2, a3 = 4, and for n ≥ 4 define an to be the last digit of the sum of

the preceding three terms in the sequence. Thus the first few terms of this sequence
of digits are (in concatenated form) 124734419447 . . .. Determine, with proof, whether
or not the string 1001 occurs in this sequence. (Hint: Do not attempt this by brute
force!)
Solution. First note that the sequence can be continued backwards in a unique
manner by setting an−1 = an+2 − an+1 − an mod 10. Doing so, one finds that the
first four terms prior to the given terms are 1, 0, 0, and 1. Thus, the string 1001 occurs
in the extended sequence. To show that it also occurs in the original sequence (i.e.,
to the right of 1247 . . .), note that the sequence is uniquely determined, backwards
and forwards, by any three consecutive digits in the sequence. Since there are finitely
many possibilities for such triples of consecutive digits, one such triple must occur
again in the sequence, and the sequence is therefore is periodic (in both directions).
In particular, any string that occurs somewhere in the extended sequence, occurs
infinitely often and arbitrarily far out along the given sequence. Hence 1001 does
occur infinitely often in this sequence. (While this term occurs immediately to the
left of the given initial string 1247 . . . , its first occurrence to the right is at the 120-th
term. This would be hard to discover by a hand calculation!)

5. Let n be a positive integer, and denote by Sn the set of all permutations of {1, 2, . . . , n}.
Given a permutation σ ∈ Sn , define its perturbation index P (σ) as

P (σ) = #{k ∈ {1, . . . , n} : σ(k) 6= k};

i.e., P (σ) denotes the number of elements in {1, . . . , n} that are “perturbed” by σ,
in the sense of being mapped to a different element. Find the average perturbation
index of a permutation in Sn , i.e.,
1 X
P (σ).
#Sn
σ∈Sn

1
 Solution. We have
X n
X X
P (σ) = 1
σ∈Sn σ∈Sn k=1
σ(k)6=k
n
X X
= 1
k=1 σ∈Sn
σ(k)6=k
Xn
= #{σ ∈ Sn : σ(k) 6= k}
k=1
Xn
= (n! − #{σ ∈ Sn : σ(k) = k})
k=1
Xn
= (n! − (n − 1)!)
k=1
= (n − 1)n!,

since, for any k, there are exactly (n − 1)! permutations in Sn that fix k. Since
#Sn = n!, it follows that the average perturbation index is n − 1.

6. Let A be a collection of 100 distinct, nonempty subsets of the set {0, 1, . . . , 9}. Show
that there exist two (distinct) sets A, A0 ∈ A whose symmetric difference has at
most two elements. (The symmetric difference of two sets A and A0 is defined as
the set of elements that are in one of the two sets, but not in both, i.e., the set
(A ∪ A0 ) \ (A ∩ A0 ).)
Solution. Let A∆B denote the symmetric difference of two sets A and B, and let
d(A, B) = |A∆B| denote the number of elements in A∆B. It is easy to see that the
function d satisfies the triangle inequality:

(1) d(A, C) ≤ d(A, B) + d(B, C).

Now, let A be a collection of subsets of {0, 1, . . . , 9} with |A| = 100. In the above
terminology, we need to show that if A has at least 100 elements then it contains two
elements, A and A0 , such that d(A, A0 ) ≤ 2.
Given A ∈ A, define a “neighborhood” of A by

U(A) = {B ⊂ {0, 1, . . . , 9} : B 6= ∅, d(B, A) ≤ 1};

i.e., U(A) consists all nonempty subsets of {0, 1, . . . , 9} whose symmetric difference
with A has at most 1 element. We are going to estimate the sum of the cardinalities
of these “neighborhoods”, X
S= |U(A)| .
A∈A

2
To this end, note that U(A) consists of the following sets: (i) the set A itself, (ii) any
proper nonempty subset of A obtained by removing exactly one element from A, and
(iii) any set obtained by adding to A exactly one element from {0, 1, . . . , 9}.
If A has k elements with k ≥ 2, then there are exactly k sets of type type (ii), and
(10 − k) sets of type (iii), so U(A) has exactly 1 + k + (10 − k) = 11 elements. If A
has 1 element, then there is no set of type (ii) (since removing the single element of
A would leave an empty set), so in that case U(A) has 10 elements. Setting

A1 := {A ∈ A : |A| = 1}, A2 := A \ A1

we therefore have

(2) S = 10|A1 | + 11|A2 |

= 11|A| − |A1 |
≥ 11 · 100 − 10 = 1090

by our assumption |A| = 100 and the trivial bound |A1 | ≤ 10, since there are 10 one
element subsets of {0, 1, . . . , 9}.
On the other hand, if the sets U(A), A ∈ A, were pairwise disjoint, we would have

[
(3) S= U(A)
A∈A
≤ |{B ⊂ {0, 1, . . . , 9} : B 6= ∅}|
= 210 − 1 = 1023,

contradicting the lower bound (2). Thus, two of these sets, say U(A) and U(A0 ),
must have a nonempty intersection. By the definition of the neighborhoods U this
means that there exists a nonempty subset B ⊂ {0, 1, . . . , 9} such that d(B, A) ≤ 1
and d(B, A0 ) ≤ 1. By the triangle inequality (1), this implies

d(A, A0 ) ≤ d(A, B) + d(B, A0 ) ≤ 1 + 1 ≤ 2.

which is what we wanted to show.