0001104659-25-0626126-K TELUS CORP 2025062520250625164204164205164205

0
0001104659-25-062612
6-K
3
20250624
20250625
20250625


TELUS CORP
0000868675
4812
980361292
A1
1231


6-K
34
001-15144
251074132


510 W. GEORGIA STREET
23RD FLOOR
VANCOUVER
A1
V6B 0M3
604-697-8044


510 W. GEORGIA STREET
23RD FLOOR
VANCOUVER
A1
V6B 0M3



6-K
1
tm2518323d8_6k.htm
FORM 6-K








 
 
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
 
For the month of June 2025
Commission File Number 001-15144
 
TELUS CORPORATION
(Translation of registrant's name into English)
 
23rd Floor, 510 West Georgia Street
Vancouver, British Columbia V6B 0M3
Canada
(Address of principal executive office)
 
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
 
Form 20-F
¨ Form 40-F x
 

 


 
 

 
Signatures
 
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 


TELUS CORPORATION
 

 
 

By:
/s/ Andrea Wood
 

 
Name: Andrea Wood
 

 
Title: Executive Vice President and Chief Legal and Governance Officer
 

 
 

Date: June 25, 2025
 

 


2
 

 
Exhibit Index
 


Exhibit Number
 
Description of Document

 
 
 

99.1
 
Pricing Press Release dated
June 24, 2025

 


3

 





EX-99.1
2
tm2518323d8_ex99-1.htm
EXHIBIT 99.1






 
Exhibit 99.1
 

 
News Release
 
June 24, 2025
 
TELUS announces pricing
of US$ junior subordinated notes offering
 
Vancouver, B.C. – TELUS announced today it has priced
an offering of US$1.5 billion aggregate principal amount of Fixed-to-Fixed Rate Junior Subordinated Notes in two series (together, the
“Notes”).
 
The US$700 million Fixed-to-Fixed Rate Junior Subordinated Notes, Series A
due October 15, 2055 will initially bear interest at an annual rate of 6.625% and reset every five years starting on October 15,
2030 at an annual rate equal to the Five-Year U.S. Treasury rate plus a spread of 2.769%, provided that the interest rate during any five-year
interest period will not reset below 6.625%. The US$800 million Fixed-to-Fixed Rate Junior Subordinated Notes, Series B due October 15,
2055 will initially bear interest at an annual rate of 7.000% and reset every five years starting on October 15, 2035 at an annual
rate equal to the Five-Year U.S. Treasury rate plus a spread of 2.709%, provided that the interest rate during any five-year interest
period will not reset below 7.000%.
 
The Notes are offered through a syndicate of underwriters led by J.P
Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC. Closing of the offering is expected to occur on or about
June 27, 2025, subject to the satisfaction of customary closing conditions.
 
The net proceeds of this offering will be used to fund TELUS’
previously announced tender offers. In the event that any tender offer is not consummated or not all of the net proceeds are used to fund
the tender offers, TELUS intends to use the remaining net proceeds from this offering for the repayment of debt, including commercial
paper (incurred for general corporate purposes), and for other general corporate purposes.
 
TELUS has been advised that credit rating agencies that have rated
these Notes have assigned 50% equity credit to the Notes.
 
The Notes will be further described in the prospectus supplement that
TELUS will be filing to its short form base shelf prospectus dated August 2, 2024 with the Securities and Exchange Commission as
part of an effective shelf registration statement on Form F-10. The Notes are not being offered in Canada or to any resident of Canada
except in transactions exempt from the prospectus requirements of applicable Canadian securities laws.
 


 
 

 
This news release does not constitute an offer to sell or the solicitation
of an offer to buy the securities in any jurisdiction. The securities being offered have not been approved or disapproved by any securities
regulatory authority in Canada or the United States, nor has any authority passed upon the accuracy or adequacy of the short form base
shelf prospectus or the prospectus supplement.
 
Copies of the short form base shelf prospectus and the prospectus supplement
relating to the offering of the Notes when filed with the US Securities and Exchange Commission may be obtained from the Chief Legal and
Governance Officer of TELUS at 510 W. Georgia St., 23rd Floor, Vancouver, British Columbia V6B 0M3 (telephone 604-695-6420). Copies of
these documents are, or will be, available electronically on the Electronic Data Gathering, Analysis, and Retrieval system, administered
by the US Securities and Exchange Commission (“EDGAR”) at www.sec.gov. Investors should read the short form base shelf prospectus
and prospectus supplement before making an investment decision.
 
Forward-Looking Statements
 
This news release contains statements about future events pertaining
to the offering, including the anticipated closing date of the offering and the intended use of the net proceeds of the offering. By their
nature, forward-looking statements require us to make assumptions and predictions and are subject to inherent risks and uncertainties
including risks associated with capital and debt markets. The timing and closing of the above-mentioned offering are subject to customary
closing conditions and other risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements
as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking
statements. Accordingly, this news release is subject to the disclaimer and the qualifications and risk factors as set out in our 2024
annual management’s discussion and analysis (“MD&A”), and updated in our first quarter 2025 MD&A, and in other
TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States
(on EDGAR at sec.gov). The forward-looking statements contained in this news release describe our expectations at the date of this news
release and, accordingly, are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation
to update or revise forward-looking statements.
 
About TELUS
 
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology
company operating in more than 45 countries and generating over C$20 billion in annual revenue with more than 20 million customer connections
through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology
to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in
client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries
and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business
utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give
where we live' philosophy, TELUS, our team members and retirees have contributed C$1.8 billion in cash, in-kind contributions, time and
programs including 2.4 million days of service since 2000, earning us the distinction of the world’s most giving company.
 
Investor Relations
Ian McMillan
ir@telus.com
 
Media Relations
Steve Beisswanger
Steve.Beisswanger@telus.com
 


 

 





GRAPHIC
3
tm2518323d8_ex99-1img001.jpg
GRAPHIC

begin 644 tm2518323d8_ex99-1img001.jpg
M_]C_X 02D9)1@ ! 0$ 8 !@ #_VP!# $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P 1" !* 1<# 2( A$! Q$!_\0
M'P 04! 0$! 0$ $" P0%!@<("0H+_\0 M1 @$# P($ P4%
M! 0 %] 0(# 01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$ P$! 0$!
M 0$! 0 $" P0%!@<("0H+_\0 M1$ @$"! 0#! <%! 0 0)W $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,! (1 Q$ /P#^_BBBB@ H
MHHH **** "BBH+JZMK*VN+V\N(;2SM()KJZNKF5(+>VMK>-I9[B>:1ECAAAB
M1I)99&5(T5G=@H)I2E&$93G*,(0C*#?$[@#Q#Q7$.#X(XKRCB>MPIC:&79\\HK5,30P.*Q5.O
M4P\8XOZO3PF-I55AL3"&*R[$X["2JX>O2CB9SIMS\C*\_P ESNIC:64YCALP
MGEU6%'&?5I2J0I5*BFX)5.2-.K&7LZB52A.M2\O
M;B"TM+6&2XN;JZFCM[:W@B4O+///*R10PQ(K/))(RHB@LS FON]]%JWLEJS
MV">BOC"^_P""A7['Z^-I_AGX5^,FF_%KXD6P;[1X$^ WA[Q?\>O$MG(K",QZ
MM9_!_0/&D7A]5E98IKKQ#<:38VCDM>W5M&DCI]2>#/$M]XMT*#6[_P &^*_
MLMS+,L.A>,U\.Q:[]E0C[/?SVWAKQ%XEM+.*]C82PV=[?6VL6PS%JFF:?&C&>(PU;#QFHN'MZ:A;SV.KHHHKF,PHHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBN?\3^+/"O@G1[KQ#XS\3>'_"/
MA^Q7?>ZYXGUG3M T>S0 DO=:GJMS:65NH )W2SH, G. :<8RE)1C&4I2:48Q
MBY2DWHE&,5*4FWHDHMMZ)-C2;:23;>B23;;[))-M^239T%%?CM^T/_P7?_X)
ML?L\:M>^'+KXU2_&+Q-80^;<:1\!-'_X618JY4M';)XVM[W3?AS/=LP,]5P=K:
M_!MJ?U]RRQ0123SR1PPPQO+--*ZQQ111J7DDDD5(Y(],T\7<-QXOOD+OL\/V\UR_X,S_M3_\ !=G_ (*N:YHUY_PJ?P-X
M)O&?BC7;G7-7.M:BT,5EH8\):%/>V N+^_O+2U:W@O_YI
M\?\ #\%XC@C.*_$7CGP]D_ '#F:3RGQ#X;\-GB>*N/\ CK.X.,<%X09+G>68
MFCDV1XSB+'5,#E&=TL!B,YSR5''XG XA9+A*.82G\%QI3RJ>4XJ>.XOP.%R;
M XAX;.\!D+J9CG6<8N-O9<,87%X>I#"82KCJSHX;%QHSQ6+<:U2E46%I0K.--NOVX_L![W0([*X.76
M76_B7X7E*(X\D;7=/TK_ &;/^"='P-^&_A[PWXC^+_PP^'/Q2^,UHDMTWB7Q
M9X"GN9()ETCP-#XAL[NST5[46\ OM?TRRL]7U:Z5Q->-IL&G6=K^B
MT444$4<$$4<,,*+'%#$BQQ11H J1QQH%1$10%5% 50 !6WT9^!,I\.N$!,CP&"64\$\!X#!Y32HU\9_JUPY"@\X
MQ6+Q_/C^),TSO$U'.3JU:M< Y/ALCRS$8[&91##YMG>(AC<1ERJJE@VL>I>)=5\?:-H,AC_U>LZ7\1[F
M\@F(VZ:R!L_5'AS_ ()+_ 349H-1_:1^*?[3G[9^JQ/'=?9?VEOCMXR\2^ [
M>_R&GEL/A9X7NO"?P^%A*^0FDZQH6N6<46U")'19:_4FBOZ#K\19A-M8.&"R
M>E:T:63X+#X%I;:XI0KYC-VT.KO^$J.%CTCA:,*-O^XB4Z
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M_H[KPY_X;OXS_P#SN*]"^%'_ 5[_P""ZQ!
MH'A+PW;^!_BIIT^L:OZSX%T[2[9Y%BD(EOKZV@&W#2@D _YMG[-/
MP/U7]I;X_P#PA^ .AZYI_AG6/B]X\T#P'IOB#5K>YN]-T>[U^\2SAO[ZVLR+
MJ>VMV:_KB_8J_X-S?C5^RU^U9\"_VA=?_ &C?A=XJT;X2^/-.
M\7ZCX=T?PKXLLM3U>VLH;F)[.RNKV0VL$[F<%7G!C 4@]17UG$7 _!'#U&K#
M%Y]F5#,*F!Q.)P&&K.C)8BI3A5A1BW1R^249XF-.E*]2F_>;O%>\O2QV491@
M8R57&UX5W1J5*-.?(_:2BI**]V@U9U$HN\HO7=;G]:U?F_\ %W_@KI_P3K^
M_P 2?%WPA^+/[2NA^#_B-X$U,:/XL\,W/@CXI:E/H^I-:V]Z+66^T3P-J>E7
M+?9;NWEWV5]K*OZ05_F'_P#!9G_E*!^V1_V5*+_U$_#=?(B3YDM;71YF39?1S'$
M5:5:=2$:='VB=-Q3;]I&%GSQDK6=]%>Y_<3_ ,/S_P#@E/\ ]'=>'/\ PW?Q
MG_\ G<5]%?LT?\%'OV*_VPO&VL?#G]F_XYZ3\3O&F@^%[KQIJ^AV'A7Q_H4M
MGX9LM5TC1+K57NO%?A/0=/DCBU37M)M#;P7IP6MQ(\FE/.'AB10DR(064D_O#_P $D?\ @BK\1?\ @F[^T)XY^-'B_P".
M/@KXFZ=XN^#NL_#*#0_#?A77-#O;.\U3QGX&\4)JLUUJ=_=02VL4'A*>T>W2
M-96EO(9 X2-U;U<^X?X R[!YI# \18^OG."C6I4<#6C'DGC*-:%*="I*.6TX
MVBU7NXUXINFFIM6YNC&X+):%+$*CCJT\524HPHR2LZL)J+A)JA%:>_M-*\='
MW_H:KX@_:5_X*0?L4_L?>-]*^''[1_QTTGX9>-=;\,VGC+2]"O\ PK\0-=FN
M_#5]J>K:/:ZHMUX4\)Z]I\<4E9W=]+]C^
MUS]G3]IOX&?M9_#QOBM^SUX^L_B1\/UU[4_##>(K'2/$6BP#7='BLI]2T_[%
MXHT?0]3WVL6H6;M,+(VT@G BFD9) GO%?SX?\&SO_*-N?_LX7XI?^FCP/7]!
M]>7Q!E]'*<[S7+,/.I4H8'&UL-2G6<75G"G[.TJCA&$')\[ORQBMK(Y\;0CA
ML7B7=A>?M;>'8;NRN
M9[2ZA/P\^,CF*XMI7AGC+1_#ID8I*C*61F0XRK$$$_J]7^/[XU_Y'+Q;_P!C
M-KW_ *=;NOK?#_@_+^+)YK''XC&8=8&.#E2^J2H1YWB)8B,_:>VHU;V5&/+R
M\N\KWTMZ>2Y70S)XE5JE6'L52?PSXCT7QCX
M;\/^+O#5\FJ>'/%6B:3XCT#4XXKB"/4=%URPM]3TJ^2"[AM[J%+NQNH+A8KF
M"&XC60)-#'(&1?SI^)/_ 6*_P"";7PA^('C+X6_$7]I[0?#7CWX?>)-7\(>
M,/#T_@7XKWTVB^(]!O9=.U;3);S2O =]IMU)9WD$L#SV-[=6LC(6@GEC*N?K
MC]E?_DV']G'_ +(-\(/_ %7OAVO\SO\ X*??\I%OVW?^SG_C-_ZG.LU'!'"6
M7\39MF^ QN(QE"EE]&52C/"RHQJ3:S"KA+5'5I5(M>SIJ7NQB^=M_#9*5+WN:,E\*3T2U\M#_ $]?A#\7?AU\>OAMX2^+
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M+[#J^L?">YGTY5R1YIBT#7--?VL_VD_A[\
M-[KQ;%_PG_[0WQ@\/>%KSQOXNNKF[C/B?XD>*K:QO/$NOW +WEZYU#59=1O%
MBWW=[+NAA#3S(#_63K?_ :C>!7\,QQ>'/VR_%MOXQCMD\Z_UOX/Z/>>&;N\
M51YGEZ38^.K'5-.MI&R$+:UJDL*D%A<$$']7Q_!? /#4,'A>),WS3Z_BZ+J*
MI052-)SHQK-PA[>I4J24>:45[UOHZV4Y+EZI4\?BL3[:K'
MF4H)J.C492484I\L%)V7/*4G:[6]OZ./V:?VYOV2?VP=/>]_9S^.W@7XE74%
MLUY?>&;*^N-%\=:7:(8U>[U;P!XFM=%\::99+)*D0OKS0H;*24[(KB0UW_@S
M]I+X(_$+QMJ7PZ\'>/M/UKQ=I;7B3:?%I^N6EG>/8*TMTFB:[?Z7::!XC=+9
M);Y%\/ZIJ;3Z9;W.J6XET^UN+F+\6_\ @C'_ ,$E:!?K>Z?
M))?&G
MB#P]X2+MI]KI;^;^=YKE_#6&QV:4I2]I5I7A2
M@JD*4I4Z/.Z="I*3JN4(^SU\/$T:4;J*YE%N
M,+\L)-\S:7*?IG1117RQYP5^'G_!8[_@KVW_ 3:TKX?>!_AKX-\)?$?X[?%
M'2M.["X\7_ -C:9X=GNKO18-$T#Q!=:AX7T>;3KR]O+V"^TW1;6_\ MMU/=O=/
M._F#U\CQ&4X7,:6)SK!ULPP-&%6;P-&<*?UFOR6P].M4E.GR8=5'SUG%N"_\ @WB_X*:?M+ZS9^+/VMOCWX;\%-?M]HU2\^(OQ(\5
M?'KXF6;R%0Y%AIUW?>&KRR\Y'_"R8%!41EP.5_NDBBB@CCA@CCAAB18XHHD
M6..-% "I&B *B* JJ !4E?8U/$?%852I\/9#D/#]-IQC4P^!IXG%\NR
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MXA1/=6437\K2K_ +]+OZ2
M'$&6Y9A/"G@S.\VXI\4O$/&QR&>3<-XR689]PSD&.A"GFN94,OP->.%RO/,9
MA,3/ Y!_:4<%3P3Q&*S_ !7U7 993QLOQGQ,X[QM##T^',JQ>)S#B'.ZJP!M1O)GCT?PP+NU6^MM?UW1H9
MY)'T336NK/\ X2&:]O-8NY;.WL;*Z^T_V./V.;[X4WM_\8OC-=1>*OC?XI::
M^:XN[A]5?P>-51I-40ZA+)+'J'BC4'FEBU;6("\=O 9=-TRXEM9[RZO_ $G]
MF']B_P"&O[-MJ-6MV_X3+XC74#0W_CG5;*.WDM8I5VS6/AK3/-NDT*QD4E;B
M07-UJ5Z&=;J_:U,5G!]BUQ^"GT?)^$R["U^!L$L-X9>%^58I9CP
MSX=0JQ;Q6?YQCG2ITN,O$S-JU6MC,XXIQ&'=#!8O$5H91&'LL-/!Y<*<%5Z"
MRO'\04Z%.>44O9Y!P_AZBKX#(U)7J8S%5N6,&))-7T/2V@MH_%=IY,W
MAO6-1:2\CU#3]!U%)6&L-HK6T*:G?V4[./-%I3@YTYV;A.97YR_P#!
M77_E&?\ MH?]D/\ $O\ Z-LJ_1JOSE_X*Z_\HS_VT/\ LA_B7_T;95[^1?\
M([R;_L;99_ZGX,[<'_O>%_["\+_V#2_\ 3["O\P__ (+,_P#*4#]LC_LJ47_J)^&Z_P!/"O\ ,/\ ^"S/
M_*4#]LC_ +*E%_ZB?ANL_!S_ )'V:?\ 8G_]W\.+A;_?<1_V"_\ N:!UGP&_
MX+9_\%"?V:_A%X'^!OPE^*'A/1/AU\.],GT?PKI5_P#"WP!KEW96-QJ5[JTL
M<^K:KH=UJ%ZS7NH74@ENKB5U5UC#!$4#^P#_ ((/_MN?M#?MT_LV_%SXC_M'
M>*-)\5^*_"7QPN_!.B7ND>%O#_A."W\/1> O!6NI:RV7AVQL+6XE&I:UJ$QN
MIHGN"DJ0F0QQ1JO/_P#!(S]ES]C?QO\ \$X?V5/%7Q$_9_\ V)=4NT\;>*;>.?5M4UC1[C4[RX6UAMX4DNYI)%@BBC4B-$
M _8_X5?#3X)_"C3-0\-_!3P+\,OAUH^HWSZYJFA?#/P[X8\+:?>ZDUO:V#ZM
M?:;X9M+*WN+PVMM96;7T\+S&""V@,NR.)1R<;\0:3C5
MS>,,(I5987&5UBIN5.FJW^UM-MREKS>^V99OC<#56)P]++U1Q$<0U+%*-.\G
M3JS51WC%3_>M7U?74]5K^"O_ (.C_P#D_+X1?]FK^#__ %:7Q>K^]2OX*_\
M@Z/_ .3\OA%_V:OX/_\ 5I?%ZN7PI_Y+"A_V+([>XAD!62&>#6+R*6)U/*O
M'(K(P/(8$5^E>"_\3B+_ *]Y7_ZJZ9>V[R6][IU_"JW5A>6\DD%W:2PW$+O%(K&
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MU/X:_&;P1XJ^%OQ&\):F9;=-0@N]/-RUA=9L?$OA'7H-EIK>CSRQ1WFC>)-
MO+FQN%\J>TN]Z_+][_ __@N+_P %,_@6;"UTW]H_6OB1H-C'##_PCOQHTG2/
MB9;74-NH2**X\0ZY;?\ "=QJJ#:S67BZSDD&/-=RJ%?]!66W_8V_;\^%EO+-
M#\"OVJ?A3?F.YMVD3PI\1]&L+QX\JZ[A?W/AO7K8$I(C#3-6'CKPKX?M?A[#XOU;7/"/Q&7
MQ3J8M-4T_1M%\7:EJ^K:3K>A:>+KQ/!_PCNIPZ1#HVCZO;W.AL);:^T[]FRO
MCS)>)<3@\CXFXZ[JWPYU.Y>XN["Z
MMK2"ZU:]\$Z_(_#F7\.9W0I98I4\+CL&\8L-*;J+#5%B:E&=.E*5YJA*RG2A.4Y07/!3E",
M+>%GN!H8'%PCATXTZU+VOLV^94Y>TE!QBW[W([)Q4FVM4FTE8HHHK\^/$"BO
M%OC%^T+\(O@-96=W\3O%UMH,^IP74^D:3%:WVIZSJZV9C2?[#ING6]S.462:
M*(W-P+>S220"6YC 8K^0/QG_ ."I/Q&\37>HZ#\$?#MIX*T::'H0SOB>52=&-:C#$Y?AJ\:>4TZ\*E'V=?.<7@(25:G*G0KQE%R^
M/XCX[X9X74J>8X^-3&K199@4L7CW)Q4XJI1IS4<,IJ4>6>*JT4U*+C"::O\
ML_\ $SXO_#7X.:*OB#XE>,-'\)Z=-YZV0U"=FO\ 5);:,2S6^D:5;)/J>K7,
M:,C/!I]I<2('1I%56!/Y%?&[_@IEXJ\?//\ #O\ 9N\(:UI5[KUY!HVF>,;U
M%O?&&HR7RE8;.\N;W4[XQ3YAT[3;]8Y8?$OAE^QK^
MT_\ M3^(K3QQ\7]6\2>'?#MW)&;OQ9\1;B_NO$]WIPW.8/"_AB_=;T0D;!:-
M>+HNAI#+Y]E+="$VTG[,_!']D_X)? *"VF\$^$X+GQ-%;F"X\;^(/+U?Q7=&
M12L[1W\D4<&E1SJ=DMMH=IIEM)&%66*0@LWX%0XD^D[])/VD>%LNG]';PDQC
MC1J<19WAZM?Q,XBRNO&,<1/)L/.CAIY;[?#SJK#XS!X;)L-2E5IM9QBW"=27
MQD,?Q_QWS++J#X(X:JVC+'8N$IY]C%@XTY4.>#ER5:5/"TXN4?]JJV
M_@;\9?AMI/A7X@?'34;H>+_B??ZRUEI.NZQ/X@\7/9Z!;Z8U]JGB*
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M/"F.XRSK#SSOB3!9]AX9OQ?GE''9G7P4*QU+&0CB/?VK/V>/AK;RR^*?BUX/2XCC=QI>BZG'XFUER
MHRJ#2?#O]IWT;2'"QM/##$2OV\$MY8VL@ -_<27*R^&?"*,IE:&.\FU[6;N)$?3H+>_(MD_JOC?
MQ^\,N"*U'*IYXN+.+,=5>&RG@7@*%/C+B_-,8XMPP]/*LBQ&/IX"#=O:XS.,
M;EF$PT.:K7E&G3J.'Z+FW&>093.&'>,699E6E[/#91DRCFF9XBK:ZA'#X.=:
M-%?S5<56H4Z:O*;2C)K]#OC9^T=\)?V?]-@O/B+XD6SU'4+>>?1/#&F02:GX
MFUWR3L*Z=I<&-D3S8MUO]1FL-+6<^5+?1OD5XYH'A?XP_M(:EI?B3XRZ,?A=
M\%[5AJ&D_!.*_DN_$GQ $H673[GXN7U\0Q/'
M:*MW6^!'[%GAKP+J%M\1_C'J]S\:?C=',-656M4BFIQ?$..IVABI746\JP+IY?%IT\;5S#E
ME1E7M+2UL+6WLK&VM[*RM(8[:TM+2&.VM;:WA01PP6]O"J10PQ1JJ1Q1HJ(B
MA54 58HHK]LC&,(QA",80A&,(0A&,(0A"*C&$(0C&$(1C&,8QC&,8QC&,8Q
MC&,8_6)))))))))))))))))))))))))))))))(KX@_X*4?#/QW\9?V#OVI?A
M;\,?#EYXN\?^./A-KV@^%/#.GRVD-[K6KW3VK6]C;2W]S:6:2RB-RK7%S#'\
MO+@XS]OT5U83$SP>+PN,IQC*IA,3A\5",[\DIX>M2KPC/E:ERRE2BI
MZNWAMH5:1UMK::4@82-CQ7^@M117O\4<4XWBO%87%X[#X7#SPN&EAH1PBK*$
MH3K.NY3]M4J2YE)V7*TN7I?4[-O&?P]\;?$&/5O"OBC3=4\
M&PV.LZH@N;6>$K<6L+[HF^3;@G^^JBIX8XHQO"N,Q&-
MP6'PN(J8G#?59PQ2K.$8>VA6YH^QJ4Y<_-!+5N/*WI>S%E^85*_A=X-US]G3Q)X0TG7=>U#PS=VM[XE
MO/B3\+M9M=)BCT77M4N1<3:9H>K7:O) D CLI5:59&C1_P"P&BOI(R_*Z5''4'AZM2C'%^UA&4Z4W*FZE>4.:]**]Z+5F]+V._%<0XK%8>M
MAYT,-&%:#A*4%4YDFXRO'FFU>\5NGNPK^/;_ (."/^">_P"V9^UC^V!\-?B#
M^SO\!?%7Q2\&Z-^SUX9\(ZGKVAW_ (8M;6S\1V7Q!^)6K76E21ZUKNEW1GAT
M[6=+NF>.!X#'>1A96=9$3^PFBODN'<_Q7#69PS7!T;@<;4P&(6)I1A.:A.'+4YN6U1)-^ZT[JVFMNY_
MF/C_ ((L_P#!4I1A?V/?B,!Z#6O 0'Y#QA7W-_P31_X)3_\ !0_X,_MY_LN?
M%+XH?LQ>.O"'P^\$?%/2M<\5^)M1U;P=-8Z-I,%I?1S7MS%8>)[R\DB1Y8U*
MV]M-(2PPA&O5XEQE6E4I2H891J4YTVTJMTIPE!M7G:Z4FU=6O:X5
M_%C_ ,%6?^#?3X[:U\9OB'^T9^Q98:3\2_#/Q0\5:WXW\5?!;[?H_A/Q=X*\
M1>(KU]4UV3PA/KFHZ?X=\3^%[[5+B_U&WTY+_1M:T3[5%I&GZ1K-I"EW#_:=
M17Q?#O$F9\,8V6-RV=.]6FJ.(P]>#J8?$TE+GC"I%2A.+A/WJ=2G.%2$F[-Q
ME*$O)P./Q&7U75P[C>4>6I":YH5(IW2DDTTT]8RBU).]KIM/_+I?_@G/_P %
M1?"T&I^"K;]DK]KFSTF_F9-5TCP_\//B%>^%M2DZET"UNO#FHH\:^6T
M[SSQ&$#,AB(-?=/[&_\ P;P_MN_'KQIHMQ\?O"D_[,7P>CFM[OQ%XA\6WFAW
M_P 0=3TX-NFTOPCX"T[4;[4+76K@!8?MGC-/#^F::DKWP36)[9='N_\ 0MHK
M[C%^+N?UJ%2EA K58M2Q=*.(K58R<>7VD(5Y*DJJ7PSJJORZ>[+E2/7J
M\3XV<)1IT%])M-&TJ!W"KYLR6=G#Y\[*'GF,DTF7D8GX
MD_X*J_LS_&S]L#]B/XJ_L\_ 36O"6A^-_'UWX.-S+XSU75-$TK4?#OAKQ9I/
MBS5-$BU32=)UF:UOM7ET.RLHA'MHSQ$*KKJ=6$I+VG-5;G)2DN:3O>]CP*5:=*M#$1:=2G
M455.:YTYQESWDFUS7DVW=ZO4_P R+QC_ ,$FO^"J?[._BB::Q_9A^.IU;3G>
M.S\5? U+KQ^EQ S_ "W&G:O\*=0UN_BBG"+)Y%PEG>1C:+JT@D&P9%I_P3?_
M ."K_P ?M>L;/7?V7_VL/$FK1[H++4?C)H7B_P +V=FDI4R*/$?Q=N="TNQA
M?RU,F[4848HF=Q"BO]/2BOU!>,&VM-0\03:N+O3/Z2:**_.,ZSK,,_Q]7,LSK*KB*BC"*A%4Z-&
MC#F]G0H4TVJ=*'-*RO*4I2E.I.C> OACX1T/1?".C:U
MJ[3:CJ^M1Q^=K.MZGHWANR9-Z)JNKWFG+-JVHZ*MVFFP36QN+9HY3]2? ']B
MKX)_L_2P:SH6D3^)_&R0+%)XT\5M#?ZC ^X/(VBV*Q1Z9H.YLJLUA;#4C;G[
M/.<]\3*W#T.(./<_SK%9[7XDXEJ+-Z^6XNO."
MHT\AP->DLKR6E@<-1PN#P=7"X&OCZ='"TYO,85YU*A\I@^"N'L)F^+S^>"6-
MSC&8NIC)X['R^LSH5)M//#&N>#O%FEV^L^'/$>G7.E:OIMT#Y=S:7*%'VNA66"XB;;/:W<
M#QW-G=1PW5M+%<0QR+^67B/_ ())_#^]U*>X\+?%KQ7H&F22L\6G:OX?TOQ'
M/;HQ)$*:A;W_ (>+HF=L;2VCR[ !(\KYD;]<**_+O$7P5\+/%F6 J^(7!F5\
M1XG*Z=2AE^.KSQV"S'"X>M45:KA:>897CLNQSSA3A[B1T99UE>'QU3#QE"C6DZU&O3A*7/*G&OAZU"JZ;G[WLY2G!2O
M**@W)R_,WX??\$M/@/X8NK>_\9:YXO\ B)<6\T'=(TS0=&T^)8+'2M'L;;3=.M
M(4 "QVUG9Q0V\* <1QJ#U.36K17?P'X3^&WAAAZ^'X!X+R'A=8N,(8S$Y=@
MW+,<;&FVZ<,9FN,K8_-,3"$I.4:53'QH*;Y_JW/::VR?AS(N'X3ADV58/+_:
M)*K4HT[UZJC=Q57$U9UL142;NHRK*%]?9WU11117Z$>V%%%% !1110 4444
K%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% '__V0$!

end