: ( 222od)
White occupies a Black liberty at the right, also defending her cutting point above.

:
Black creates a ko shape in sente ...

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... before securing an eye for his large group.

: (120 222of)
Here, Black gives atari from the inside immediately.

Inserting the throw-in of before will not help him either.

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White simply connects.

:
Black starts to occupy White's outside liberties.

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This connection gains Black an additional liberty.
He loses a ko threat by this move, but which will not be important here.

:
Black captures White's five stones in the upper left.

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White recaptures, creating another ko shape at the left.

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Black must give atari immediately.

Otherwise, White would gain an additional approach-move liberty by extending to the same point.

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Please note that the Punishment Semeai Liberty Level is eight after this move.

You will easily realise that the outcome of the fight in the centre is not affected, as White's move is gote.
In principle, Black gets a free move elsewhere. Therefore, the relationship of liberties is the same as if Black would have played his "usual" kikashi in the hanezeki, starting with .

:
Black continues with playing on the outside, instead of connecting the hanezeki's tail.

Please note that Black is unable to approach White's group from the inside, instead, as his group has only eight liberties remaining.

:
White starts occupying her false eyes, which would have been necessary anyway.

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Now, Black can do nothing else but connect the hanezeki's tail.

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White's oki is mandatory.

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Black has to accept that he has two outside liberty too few.

He is unable to give atari with in the centre, because White would capture the ko at the top with , and capture Black's large group with thereafter.

:
White starts taking Black's connected bottom group off the board, so dissolving the temporary seki above.

White will win the game by a large margin.