: (A 385)
Black has no ko-threats left, so he must let White finish the ko.
:
Black's group in the top right is reduced to seven liberties, so Black must connect the hanezeki's tail, to pre-empt the usage of the Punishment Semeai by White.
:
White establishes a temporary seki in the centre, and so wins the game. In the top left corner, White has three unused ko-threats left.