# EDGAR Filing Document

**Accession Number:** 0000847554
**File Stem:** 0000847554-26-000007
**Filing Date:** 2026-4
**Character Count:** 24113
**Document Hash:** c7a1d69b2a5e6d0fecaad70722aa59c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000847554-26-000007.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0000847554-26-000007

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 91

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260423

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALGER SEPARATE ACCOUNT A OF VENERABLE INSURANCE & ANNUITY Co
- **CENTRAL INDEX KEY:** 0000847554

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** IA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05790
- **FILM NUMBER:** 26888133

**BUSINESS ADDRESS:**
- **STREET 1:** 699 WALNUT STREET
- **STREET 2:** SUITE 1350
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309-3942
- **BUSINESS PHONE:** 610-425-3400

**MAIL ADDRESS:**
- **STREET 1:** 699 WALNUT STREET
- **STREET 2:** SUITE 1350
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50309-3942

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALGER SEPARATE ACCOUNT A OF VOYA INSURANCE & ANNUITY Co
- **DATE OF NAME CHANGE:** 20140829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALGER SEPARATE ACCOUNT A OF ING USA ANNUITY & LIFE INSURANCE CO
- **DATE OF NAME CHANGE:** 20040609

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALGER SEPARATE ACCOUNT A OF GOLDEN AMERICAN LIFE INSUR CO
- **DATE OF NAME CHANGE:** 19930506

## Series and Classes Contracts Data

### ALGER SEPARATE ACCOUNT A OF VENERABLE INSURANCE & ANNUITY Co (Series ID: S000065584)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000212144 | Alger Variable Universal Life |  |

**FINANCIAL STATEMENTS**

**Venerable Insurance and Annuity Company<br>Alger Separate Account A**

***For the years ended December 31, 2025 and 2024<br>with Report of Independent Auditors***

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---

| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Financial Statements** |
| **Year Ended December 31, 2025** |

---

**Contents**

---

| | |
|:---|:---|
| [Audited Financial Statements](#chapter_4_860) | [3](#chapter_4_860) |
| [Statements of Assets and Liabilities](#chapter_4-sect1_1_860) | [3](#chapter_4-sect1_1_860) |
| [Statements of Operations](#chapter_4-sect1_2_860) | [4](#chapter_4-sect1_2_860) |
| [Statements of Changes in Net Assets](#chapter_4-sect1_3_860) | [5](#chapter_4-sect1_3_860) |
| [Notes to Financial Statements](#chapter_5-sect1_1_860) | [6](#chapter_5-sect1_1_860) |

---

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Statements of Assets and Liabilities** |
| **December 31, 2025** |
| *(Dollars in thousands)* |

---

---

| | | |
|:---|:---|:---|
|  | **Alger Large Cap Growth Portfolio - Class I-2** | **Alger Small Cap Growth Portfolio - Class I-2** |
| **Assets** |  |  |
| Investments in mutual funds at fair value | $14087<br>| $4228<br>|
| Total assets | 14087<br>| 4228<br>|
| Net assets | $14087<br>| $4228<br>|
| Total number of mutual fund shares | 136538<br>| 226831<br>|
| Cost of mutual fund shares | $8399<br>| $5576<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 3

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Statements of Operations** |
| **For the Year Ended December 31, 2025** |
| *(Dollars in thousands)* |

---

---

| | | |
|:---|:---|:---|
|  | **Alger Large Cap Growth Portfolio - Class I-2** | **Alger Small Cap Growth Portfolio - Class I-2** |
| **Net investment income (loss)** |  |  |
| Investment Income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | $—<br>| $—<br>|
| Expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk charges | 80<br>| 25<br>|
| Total expenses | 80<br>| 25<br>|
| Net investment income (loss) | (80)<br>| (25)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;**Realized and unrealized gain (loss) on** <br>**investments** |  |  |
| Net realized gain (loss) on investments | 34<br>| (14)<br>|
| Capital gains distributions | 1515<br>| 49<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and <br>capital gains distributions | 1549<br>| 35<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of <br>investments | 1733<br>| 200<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on <br>investments | 3282<br>| 235<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting <br>from operations | $3202<br>| $210<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 4

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Statements of Changes in Net Assets** |
| **For the Years Ended December 31, 2025 and 2024** |
| *(Dollars in thousands)* |

---

---

| | | |
|:---|:---|:---|
|  | **Alger Large Cap Growth Portfolio - Class I-2** | **Alger Small Cap Growth Portfolio - Class I-2** |
| **Net assets at January 1, 2024** | $7667<br>| $3741<br>|
| **Increase (decrease) in net assets** |  |  |
| Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (61)<br>| (11)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 15<br>| (14)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 3263<br>| 302<br>|
| Net increase (decrease) in net assets resulting from operations | 3217<br>| 277<br>|
| Changes from principal transactions: |  |  |
| Total increase (decrease) in net assets | 3217<br>| 277<br>|
| **Net assets at December 31, 2024** | $10884<br>| $4018<br>|
| **Increase (decrease) in net assets** |  |  |
| Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | (80)<br>| (25)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total realized gain (loss) on investments and capital gains <br>distributions | 1549<br>| 35<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) of investments | 1733<br>| 200<br>|
| Net increase (decrease) in net assets resulting from operations | 3202<br>| 210<br>|
| Changes from principal transactions: |  |  |
| Total increase (decrease) in net assets | 3202<br>| 210<br>|
| **Net assets at December 31, 2025** | $14087<br>| $4228<br>|

---

*The accompanying notes are an integral part of these financial statements.* <br> 5

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**1. Organization**

Venerable Insurance and Annuity Company ("VIAC" or the "Company") is domiciled in the State of Iowa and was originally organized in 1973 under the insurance laws of Minnesota. On June 1, 2018, the Company became an indirectly wholly owned subsidiary of VA Capital Company LLC, ("VA Capital"), a limited liability company domiciled in the State of Delaware. The Company's direct parent is Venerable Holdings, Inc. ("Venerable Holdings"), a holding company domiciled in the State of Delaware. Before June 1, 2018, the Company was an indirectly wholly owned subsidiary of Voya Financial, Inc.

Alger Separate Account A of the Company (the "Account") was established by the Company to support operations of the Company's variable life contracts (the "Contracts"). The Company ceased sales of new variable life contracts, but existing Contract owners may continue to invest in their Contracts.

The Account supports Alger VUL flexible premium variable life insurance Contracts.

The Account is registered as a unit investment trust with the Securities Exchange Commission ("SEC") under the Investment Company Act of 1940, as amended. VIAC provides for variable accumulation and benefits under the Contracts by crediting life premiums to one or more divisions within the Account or a fixed account (an investment option in the Company's general account), as directed by the policyholders. The portion of the Account's assets applicable to Contracts will not be charged with liabilities arising out of any other business VIAC may conduct, but obligations of the Account, including the promise to make benefit payments, are obligations of VIAC. Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the other assets and liabilities of VIAC.

At December 31, 2025, the Account had two investment divisions (the "Divisions"), each which invest in independently managed mutual funds. The assets in each Division are invested in shares of a designated fund ("Fund") of an investment trust ("Trust").

The Divisions with asset balances at December 31, 2025 are as follows:

---

| |
|:---|
| **Alger Growth Portfolio** |
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Large Cap Growth Portfolio - Class I-2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Small Cap Growth Portfolio - Class I-2 |

---

**2. Significant Accounting Policies**

The following is a summary of the significant accounting policies of the Account:

*Use of Estimates*

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

*Investments*

Investments are made in shares of a Division and are recorded at fair value, determined by the net asset value per share of the respective Division. Investment transactions in each Division are recorded on the trade date. Distributions of net investment income and capital gains from each Division are recognized on the

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **ALGER SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

ex-distribution date. Realized gains and losses on redemptions of the shares of the Division are determined on a first-in, first-out basis. The difference between cost and current fair value of investments owned on the day of measurement is recorded as unrealized appreciation or depreciation of investments.

*Federal Income Taxes*

Operations of the Account form a part of, and are taxed with, the total operations of VIAC, which is taxed as a life insurance company under the Internal Revenue Code ("IRC"). Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of the Account to the extent the earnings are credited to policyholders. Accordingly, earnings and realized capital gains of the Account attributable to the policyholders are excluded in the determination of the federal income tax liability of VIAC, and no charge is being made to the Account for federal income taxes for these amounts. The Company will review this tax accounting in the event of changes in the tax law. Such changes in the law may result in a charge for federal income taxes. Uncertain tax positions are assessed at the parent level on a consolidated basis, including taxes of the operations of the Separate Account.

*Policyholder Reserves*

Policyholder reserves of the Account are represented by net assets on the Statements of Assets and Liabilities and are equal to the aggregate account values of the policyholders invested in the Account Divisions. To the extent that benefits to be paid to the policyholders exceed their account values, VIAC will contribute additional funds to the benefit proceeds. Conversely, if amounts allocated exceed amounts required, transfers may be made to VIAC.

*Changes from Principal Transactions*

Included in Changes from principal transactions on the Statements of Changes in Net Assets are items which relate to policyholders activity, including premiums, death benefits, surrenders and withdrawals, contract charges, cost of insurance, policy loans and administrative charges. Also included are transfers between the fixed account and the Divisions, transfers between Divisions, and transfers to (from) VIAC related to gains and losses resulting from actual mortality experience (the full responsibility for which is assumed by VIAC).

*Segment Disclosures*

FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07") defines an operating segment as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Account's CODM is the Company's Chief Executive Officer. The Account represents a single operating segment as the CODM monitors operating results, and as a whole, long-term strategic asset allocation is pre-determined based on a defined investment strategy. The "Total increase (decrease) in net assets", which is used by the CODM to assess the segment's performance, is consistent with the accompanying Statements of Changes in Net Assets. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as "Total net assets" and significant segment expenses are listed on the accompanying Statements of Operations.

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|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY**  |
| **ALGER SEPARATE ACCOUNT A**  |
| **Notes to Financial Statements**  |

---

*Subsequent Events*

The Account has evaluated subsequent events for recognition and disclosure through the date the financial statements were issued.

**3. Financial Instruments**

The Account invests assets in shares of open-end mutual funds, which process orders to purchase and redeem shares on a daily basis at the fund's next computed net asset values ("NAV"). The fair value of the Account's assets is based on the NAVs of mutual funds, which are obtained from the transfer agents or fund companies and reflect the fair values of the mutual fund investments. The NAV is calculated daily upon close of the New York Stock Exchange and is based on the fair values of the underlying securities.

The Account's assets are recorded at fair value on the Statements of Assets and Liabilities and are categorized as Level 1 as of December 31, 2025. There were no transfers among the levels for the year ended December 31, 2025. The account had no liabilities as of December 31, 2025.

The Account categorizes its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument.

• Level 1 - Unadjusted quoted prices for identical assets or liabilities in an active market. The Account defines an active market as a market in which transactions take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2 - Quoted prices in markets that are not active or valuation techniques that require inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

A. Quoted prices for similar assets or liabilities in active markets;

B. Quoted prices for identical or similar assets or liabilities in non-active markets;

C. Inputs other than quoted market prices that are observable; and

D. Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

• Level 3 - Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These valuations, whether derived internally or obtained from a third party, use critical assumptions that are not widely available to estimate market participant expectations in valuing the asset or liability.

**4. Charges and Fees**

Under Policy terms, VIAC deducts a daily mortality and expense risk charge to cover VIAC's mortality and expense risk and other expenses in connection with the issuance and administration of the Policies. Daily charges are deducted at annual rates of 0.65% of the average daily net asset value of each Division of the Account. These charges are assessed through a reduction in unit values.

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**5. Purchase and Sales of Investment Securities**

The aggregate cost of purchases and proceeds from sales of investments for the year ended December 31, 2025 follow:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
|  | *(Dollars in thousands)* | *(Dollars in thousands)* |
| **Alger Growth Portfolio:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Large Cap Growth Portfolio - Class I-2 | $1515<br>| $80<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Small Cap Growth Portfolio - Class I-2 | $49<br>| $25<br>|

---

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**6. Changes in Units**

The net changes in units outstanding follow:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Year ended December 31** | **Year ended December 31** | **Year ended December 31** | **Year ended December 31** | **Year ended December 31** | **Year ended December 31** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Units**<br>**Issued** | **Units**<br>**Redeemed** | **Net Increase**<br>**(Decrease)** | **Units**<br>**Issued** | **Units**<br>**Redeemed** | **Net Increase**<br>**(Decrease)** |
| **Alger Growth Portfolio:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Large Cap Growth Portfolio - Class I-2 | —<br>| —<br>| —<br>| —<br>| —<br>| —<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;Alger Small Cap Growth Portfolio - Class I-2 | —<br>| —<br>| —<br>| —<br>| —<br>| —<br>|

---

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| |
|:---|
| **VENERABLE INSURANCE AND ANNUITY COMPANY** |
| **ALGER SEPARATE ACCOUNT A** |
| **Notes to Financial Statements** |

---

**7. Financial Highlights**

A summary of unit values, units outstanding, and net assets for life insurance Policies as of December 31, 2025, 2024, 2023, 2022, and 2021 and expense ratios, excluding expenses of underlying Funds, investment income ratios and total returns for the years ended December 31, 2025, 2024, 2023, 2022, and 2021 follows:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fund**<br>**Inception<br>Date<sup>A</sup>** | **Units**<br>**(000's)** | **Unit Fair Value** | **Net Assets**<br>**(000's)** | **Investment**<br>**Income<br>Ratio<sup>B</sup>** | **Expense Ratio<sup>C</sup>** | **Total Return<sup>D</sup>** |
| Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 | Alger Large Cap Growth Portfolio - Class I-2 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 31 | $448.70<br>| $14087 | 0.00%<br>| 0.65%<br>| 29.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 31 | $346.69<br>| $10884 | 0.00%<br>| 0.65%<br>| 41.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | 31 | $244.22<br>| $7667 | 0.00%<br>| 0.65%<br>| 31.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | 31 | $185.28<br>| $5817 | 0.00%<br>| 0.65%<br>| -39.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | 31 | $304.02<br>| $9544 | 0.00%<br>| 0.65%<br>| 11.11% |
| Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 | Alger Small Cap Growth Portfolio - Class I-2 |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 |  | 32 | $133.21<br>| $4228 | 0.00%<br>| 0.65%<br>| 5.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | 32 | $126.60<br>| $4018 | 0.39%<br>| 0.65%<br>| 7.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 |  | 32 | $117.84<br>| $3741 | 0.00%<br>| 0.65%<br>| 15.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 |  | 32 | $101.82<br>| $3232 | 0.00%<br>| 0.65%<br>| -38.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 |  | 32 | $165.35<br>| $5248 | 0.00%<br>| 0.65%<br>| -6.67% |

---

**A**The Fund Inception Date represents the first date the fund received money.

**B**The Investment Income Ratio represents dividends received by the Division, excluding capital gains distributions, divided by the average net assets. The recognition of investment income is determined by the timing of the declaration of dividends by the underlying fund in which the Division invests.

**C**The Expense Ratio represents the annualized mortality and expense risk charges as defined in the Charges and Fees note.

**D**Total Return is calculated as the change in unit value for each Contract presented in the Statements of Assets and Liabilities.

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