Sequence 1:
and. Convert Hello to UTF
b. Convert UTF to base 64
Sequence 2:
and. Convert hi to utf v1
b. Convert UTF v1 to base 64 v1
with. Convert base 64 v1 to UTF v2
e. Convert UTF v2 to base 64 v2
Broken down in this way, it should be clear why you do not expect them to produce the same result. Obfuscation by overlapping functional chains.
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