G\i`f[`ZfY`d\jkiXc\$Gfjk\@kXc`Xe\JgX$jg\[`q`fe\`eXYYfeXd\ekfgfjkXc\$.'E<&9C=fkf1;Xe`\c\Il[`Xe Veneto TEAM RONALDINIO arriva prima di tutti, guadagna meglio di tutti ed è sano! Ronaldinio, il mais grande in tutti i sensi. 5 ottimi motivi per scegliere il Team Ronaldinio per fare granella. Tel. 0543 474611 - [email protected] - www.kws.it :I@J@N@:FIK<@;@8>I@EJ@<D<JL@DGFJ@Q@FE<=@J:8C<#9LIF:I8Q@8#G8:#GJI1@DGI<J<:8CG<JK8K< E\cc\ZXcc`[`M\e\q`X# `eefd\[\ccX[`^e`k~ KN PWQXQ IKQTPC NGTGIKQPCNGEJG XK CRRTGUVCVG C NGIIGTG TCRRTG UGPVC NC EQP ETGVK\\C\KQPG FK WP¶KFGC EJG OK JC CEEQO RCIPCVQ¿PFCNN¶KPK\KQFGNOCPFCVQ WP¶KFGC PCVC FCNNC EQPUCRGXQNG\\C FGNN¶KORQTVCP\C GPQTOG FGNNC EQ OWPKEC\KQPG PGN FG¿PKTG TGNC\KQPK GTCRRQTVKUWEWKEQUVTWKTGNGC\KQPK URGEKCNOGPVGKPWPOQOGPVQFKETK UKEQOGN¶CVVWCNG³).+#)4+%1.614+ 8'0'6+´pHTWVVQFKWPCUEGNVCEJG QTKIKPCFCWPRTQIGVVQEQPFKXKUQG TGCNK\\CVQITC\KGCNNCXQNQPViEQOW PG FGK RTGUKFGPVK EQPHGFGTCNK FGNNG RTQXKPEG XGPGVG FK QVVKOK\\CTG NG URGUG KORKGICPFQ NG TKUQTUG WOC PG FK XCNQTG EJG %QPHCITKEQNVWTC IKi RQUUKGFG 2GT HCTG FK RK~ UGP \C EQUVCTG FK RK~ WPGPFQ NG HQT\G RWPVCPFQCEQPEGPVTCTGNCECRCEKVi OCUUKOCFKKORGIPQRGTOGVVGTGCN EQTTGPVG INK CUUQEKCVK FGNNG CVVKXKVi UKPFCECNK UXQNVG FCNNC NQTQ #UUQEKC \KQPGGCNNQUVGUUQVGORQHCTGUGPVK TGHQTVGNCXQEGFK%QPHCITKEQNVWTCKP CODKVQTGIKQPCNGCRK~NKXGNNK ³).+#)4+%1.614+8'0'6+´EQPWPC VKTCVWTCFKOKNCEQRKGHQTPKTiWPC KPHQTOC\KQPGECRKNNCTGGEJKCTCRTG XGFGPFQ CPEJG CRRTQHQPFKOGPVK G URC\KRGTGURGTVKUWNNGVCPVGVGOCVK EJGFGNPQUVTQUGVVQTG#EECPVQCNNG PGYUNGVVGTGCKUQEKCNPGVYQTMGCINK UVTWOGPVK RK~ OQFGTPK FGNN¶KPHQTOC \KQPG UWK SWCNK EWTGTGOQ NC PQUVTC RTGUGP\CSWGUVQIKQTPCNGECTVCEGQ UCTi FWPSWG N¶GURTGUUKQPG OCPKHG UVC FK %QPHCITKEQNVWTC 8GPGVQ PGK EQPHTQPVKFGINKKPVGTNQEWVQTKFGNOQP FQGEQPQOKEQRQNKVKEQUKPFCECNGG UQEKCNGXGPGVQ%QPWPRTQRTKQRGUQ URGEK¿EQKPHCVVQFKQRKPKQPG $WQPCNGVVWTC .QTGP\Q0KEQNK &C#UVKC(KTGP\G4C G\ij\ej`Y`c`qqXi\c\`jk`klq`fe` IWUC$TGUEKC8GPG\KC \cËfg`e`fe\glYYc`ZX 0CRQNK RGT EQKPXQNIG TG KN OQPFQ RQNKVKEQ G NCUQEKGViEKXKNG#ITKP UKGOG JC QTICPK\\CVQ KP HGDDTCKQ WPC UGTKG FK GXGPVK EJG JCPPQ OCPKHGUVCVQKNITCXGFK UCIKQGNGFKH¿EQNViEJG UQHHQECPQ N¶CITKEQNVWTC KVCNKCPC + RTGUKFGPVK FGNNG VTG 1TICPK\\C\KQ PKEJGEQORQPIQPQKN %QQTFKPCOGPVQ %QP HCITKEQNVWTC%KCG#NNG CP\CFGNNG%QQRGTCVKXG CITQCNKOGPVCTK JCPPQ CNVGTPCVQ K RTQRTK KP VGTXGPVK KP OQNVKUUKOG RKC\\G G TGIKQPK FGN PQUVTQ 2CGUG EQP NC RCTVGEKRC\KQPG FK UKPFCEK RTGHGVVK RTGUKFGPVK FGNNG %COGTG FK %QOOGTEKQ CUUGUUQTK G RQNKVKEK#8GPG\KCKNEQTVGQFK%QPHCITKEQNVWTC8GPGVQEQPNGFGNGIC\KQPK#ITKPUKGOGFGNNG RTQXKPEG UK p UPQFCVQ RCEKHKECOGPVG NWPIQ NG ECNNK KN HGDDTCKQ RCUUCPFQ FCXCPVK C 2CNC\\Q (GTTQ(KPK UGFG FGN %QPUKINKQ TGIKQPCNG HKPQ C %CORQ UCP /CWTK\KQ FQXG NG OCUUKOGECTKEJGTGIKQPCNKGPC\KQPCNKFK#ITKPUKGOGJCPPQVQEECVQKRWPVKPGXTCNIKEKUW EWKKPVGTXGPKTGRGTICTCPVKTGWPHWVWTQCNUGVVQTGRTKOCTKQXGPGVQGPC\KQPCNGTKUQNXGTG NC SWGUVKQPG HKUECNG GXKVCPFQ XKEGPFG RCTCFQUUCNK EQOG SWGNNC FGNN¶+/7 EJG EQORQTVC WPCIITCXKQFKOKNKQPKFKGWTQGKPVGTGUUGTiEQOWPKOQPVCPKRTKOCGUGPVCVK CEEGNGTCTGN¶CRRNKEC\KQPGFGNNC2#%CRRTQXCTGTCRKFCOGPVGK254KPVGTXGPKTGUWKEQUVK UVTWVVWTCNKGTKFWTTGNCDWTQETC\KCHCXQTKTG N¶CIITGIC\KQPGFGHKPGPFQNGPQTOGRGTNG 1TICPK\\C\KQPK FK RTQFWVVQTK G N¶KPVGTRTQ HGUUKQPGWPCIKWUVCRQNKVKECRGTN¶GPGTIKC FC HQPVK TKPPQXCDKNK KPEGPVKXCTG N¶CVVKXKVi #PPQ+0)GPPCKQ(GDDTCKQ CITKEQNC EQOG UVTWOGPVQ FK IGUVKQPG FGN 2GTKQFKEQDKOGUVTCNG VGTTKVQTKQ VWVGNCTG KN UGVVQTG NCVVKGTQ ± EC UGCTKQ G NG CNVTG RTQFW\KQPK \QQVGEPKEJG <[`kfi\1:fe]X^i`ZfckliX TKXGFGTG N¶CRRNKEC\KQPG FGNNC &KTGVVKXC PK i\k\g\icËX^i`ZfckliXm\e\kX M`X:%Dfek\m\i[`#(,$D\jki\M< VTCVK CRRNKECTG KN 2#0 (KVQUCPKVCTK KP OC PKGTC EQORCVKDKNG EQP NG GUKIGP\G FGNNG &KTGVVQTGTGURQPUCDKNG.WKUC4QUC PQUVTG EQNVWTG URGEKCNK\\CVG .G KPK\KCVKXG &KTGVVQTGGFKVQTKCNG'FQCTFQ%QOKQVVQ PGNNGNQTQFKXGTUGOQFCNKVi UKVKPKPEQP 4GFC\KQPG8KC<WRRCPK$GNNWPQ VTK EQP K TCRRTGUGPVCPVK FGNNG KUVKVW\KQPK 2TQIGVVQITC¿EQ+FGCN.QQM4QXKIQ OCPKHGUVC\KQPK CK ECUGNNK CWVQUVTCFCNK FK 5VCORC6KRQITC¿C2KCXG5TN$GNNWPQ UVTKDW\KQPGFKRTQFQVVKJCPPQRTKXKNGIKCVQ KN ECTCVVGTG RTQRQUKVKXQ FGNNG TKXGPFKEC 2QUVG +VCNKCPG 5RC 5RGFK\KQPG KP CDDQPC \KQPK FGN UGVVQTG CITKEQNQ QTIQINKQUQ FGN OGPVQRQUVCNG0'$. TWQNQ PQP UQNQ GEQPQOKEQ EJG TKXGUVG G +PEQTUQFKKUETK\KQPGCN6TKDWPCNGFK$GNNWPQ PGNPQOGFGNNCFKIPKViFGNRTQRTKQNCXQTQ #XXKCVQCNNCUVCORCKPFCVCHGDDTCKQ EQOGEQORQPGPVGFGNUKUVGOC2CGUGPGN EQPVGUVQGWTQRGQGKPVGTPC\KQPCNG =fkf1;Xe`\c\Il[`Xe %CTKCUUQEKCVK * C8KK<N8C:FEM<>EF;@:FE=8>I@:FCKLI8KI<M@JFCË8E8C@J@;<@GFJJ@9@C@GIFJJ@D@J:<E8I@ (Xgi`c\#Ôe\[\cc\hlfk\cXkk\% <cXgfc`k`ZXZ_\]X6 + +NOCT\QVGTOKPCFG¿PKVKXCOGPVGKNTGIKOGEJGJCTGIQNCOGPVCVQNC RTQFW\KQPGFGNNCVVGKP'WTQRCFCNRTKOQCRTKNGPQPGUKUVGTCPPQ RK~NGSWQVGNCVVGEJGUQRTCVVWVVQKP+VCNKCJCPPQETGCVQRQNGOKEJGG VGPUKQPKPGNOQPFQFGINKCNNGXCVQTKSWCUK¿PFCNN¶KPK\KQFGNN¶CRRNKEC\KQPG FGNUKUVGOCFGK³VGVVKFKRTQFW\KQPG´KPVTQFQVVQCNKXGNNQEQOWPKVCTKQPGN RGTGXKVCTGN¶GEEGUUKXCRTGUGP\CFKNCVVGEQPNQUEQRQFKUCNXC IWCTFCTPGKNRTG\\Q+TKUWNVCVKUKUQPQTKXGNCVKQRRQUVKCNN¶KPVGPVQKPK\KCNG FKSWGUVCRQNKVKECFKIGUVKQPG1TCUKECODKCGOQNVQRTGQEEWRCPVKUQPQ INKKPVGTTQICVKXKEJGUKRQPIQPQEQPNCNKDGTCNK\\C\KQPGFGNNCRTQFW\KQPG NCVVKGTCSWCNKEQPVTCEEQNRKUKCXTCPPQPGNEQORCTVQCNKXGNNQKPVGTPC\KQ PCNGPC\KQPCNGGXGPGVQGSWKPFKPGNNGVCUEJGFGINKCNNGXCVQTK! .GRTQDNGOCVKEJGCHHTQPVCVGCNEQPXGIPQ³&QRQNGSWQVGNCVVG5XKNWRRK ETKVKEKViGQRRQTVWPKViRGTINKCNNGXCVQTKFGNXGPGVQ´QTICPK\\CVQFC%QP HCITKEQNVWTC6TGXKUQJCPPQHCVVQCHÀWKTGKNHGDDTCKQPGNNCUGFGFGNN¶CU UQEKC\KQPGC%CUVCIPQNGFK2CGUGWPEGPVKPCKQFKCNNGXCVQTKFCVWVVQ KN8GPGVQKPFKRGPFGPVGOGPVGFCNN¶QTICPK\\C\KQPGUKPFCECNGFKCRRCTVG PGP\C6CPVQpUVCVQN¶KPVGTGUUGGECNFGNGVGOCVKEJGKPFKUEWUUKQPG EJGN¶KPEQPVTQUKpRTQVTCVVQ¿PQCNRTKOQRQOGTKIIKQEQPWPEQPHTQPVQ FKTGVVQ G UEJKGVVQ VTC INK CNNGXCVQTK G TGNCVQTK EQOG *GTDGTV &QTHOCPP GWTQRCTNCOGPVCTGEQORQPGPVGFGNNC%QOOKUUKQPGRGTN¶CITKEQNVWTCG NQUXKNWRRQTWTCNG)KWUGRRG%CUVKINKQPGUQVVQUGITGVCTKQFGNOKPKUVGTQ FGNNG2QNKVKEJGCITKEQNG(TCPEQ/CP\CVQCUUGUUQTGCNN¶#ITKEQNVWTCFGNNC 4GIKQPG8GPGVQG#NDGTVQ/GPIJKTKEGTECVQTG%42#5RC %GPVTQTKEGT EJGRTQFW\KQPKCPKOCNK (CDKQ%WTVQRTGUKFGPVGFGNNC5G\KQPGGEQPQOK ECTGIKQPCNGFGNNCVVGFK%QPHCITKEQNVWTC8GPGVQ PGNNCHQVQCNCVQJCRQUVQKVGTOKPKFGNNCSWG UVKQPGINKCNNGXCVQTKIKiHQTVGOGPVGKPETKUKRGT KNXGTVKIKPQUQECNQFGKRTG\\KFKXGPFKVCEJGPQP RGTOGVVGFKEQRTKTGPGOOGPQKEQUVKGURKPIG CNNCEJKWUWTCFGNNGUVCNNGCOGPQFKFWGOGUK FCNVGTOKPGFGNNGSWQVGNCVVGUKTKVTQXCPQCPEQ TCUGP\CNGTKURQUVGPGEGUUCTKGRGTRTQITCOOC TGNCNQTQCVVKXKViPGNN¶KOOGFKCVQHWVWTQ .QTGP\Q 0KEQNK RTGUKFGPVG FK %QPHCITKEQNVWTC 8GPGVQ JC GURTGUUQ NC ITCPFGRTGQEEWRC\KQPGFGNUGVVQTGRTKOCTKQRGTSWCPVQCEECFGKP+VCNKC FCWPCSWKPFKEKPCF¶CPPKEQPWPRTQITGUUKXQCDDCPFQPQFKRTQFQVVK UVTCVGIKEKEQOGCFGUGORKQNCRTQFW\KQPGFGNNCDCTDCDKGVQNCFC\WE EJGTQ³+NPQUVTQVKOQTG±JCFGVVQ±pEJGNCUVGUUCUQTVGRQUUCCXGTNC NC\QQVGEPKCFCNCVVG´ 8ccËfi`qqfek\elfm\kliYfc\eq\[`d\iZXkf \ZXcf[\`gi\qq`g\i^c`Xcc\mXkfi` #NDGTVQ /GPIJK JC CR RTQHQPFKVQ EQP TKEGTEJG G XCNWVC\KQPK UVCVKUVKEJG NG FKPCOKEJGFGNNCRTQFW\KQPG GFGKRTG\\KFGNNCVVGCNKXGNNQ OQPFKCNG GWTQRGQ PC\KQ PCNGGTGIKQPCNG+NSWCFTQ RGT NC RTQFW\KQPG KVCNKCPC G XGPGVC p CNNCTOCPVG KP SWCPVQ OGPVTG VTGPV¶CPPK HCSWCPFQHWTQPQKPVTQFQV VGNGSWQVGNCVVGKNRTG\\QFGNNCVVGKVCNKCPQGTCKNFQRRKQFGINKCNVTK2CGUK GZVTCGWTQRGKQTCpRTGUUQEJoWIWCNG+NTGNCVQTGJCTKHGTKVQEJGPGN FQRQWPRCKQFKCPPKFKETGUEKVCKNRTG\\QFGNNCVVGCNKXGNNQGWTQRGQGTC FKGWTQCNSWKPVCNGOCPGNRGTKQFQFKTKHGTKOGPVQFGNN¶CPPQ pUEGUQXGTVKIKPQUCOGPVGCGWTQCNSWKPVCNG.CECWUCXCTKEGTECVC PGNUWTRNWUFKRTQFW\KQPGOQPFKCNGKPRCTVKEQNCTGFCNNC0WQXC<GNCPFC GFCINK75#%KyUVCOGVVGPFQKPITQUUCFKH¿EQNViKPQUVTKRTQFQVVKNCVVKGTQ ECUGCTKCPEJG&12EQOGKNITCPCRCUUCVQFCCGWTQCNEJKNQ *GTDGTV&QTHOCPPJCKPHQTOCVQEJGTGEGPVGOGPVGNC%QOWPKViGWTQ RGCUKpFQVCVCFKWPQUVTWOGPVQFKOQPKVQTCIIKQRTG\\KGTKVKGPGEJGNG ECWUGFGNECNQFKRTG\\QUKCPQKORWVCDKNKCNDNQEEQFGNN¶GZRQTVXGTUQNC 4WUUKCCNTCNNGPVCOGPVQFGNNGGURQTVC\KQPKXGTUQNC%KPCGK2CGUKCUKCVK EKGCNECNQFGKEQPUWOKKP'WTQRC6TCINKKPVGTXGPVKEJGRQUUQPQCKWVCTG KNUGVVQTGKN³2CEEJGVVQNCVVG´RTGXGFGC\KQPKXQNVGCNEQPVTQNNQFGKXQNWOK RTQFWVVKXK&12CNWPICUVCIKQPCVWTCGUCTGDDGWPGTTQTGCVVWCTGWPKPVGT XGPVQUWNRTG\\QRGTEJoUKKPEGPVKXGTGDDGTQCPEQTFKRK~K2CGUKEJGJCP PQITCPFKECRCEKViRTQFWVVKXG5VTWOGPVKEQOGN¶GVKEJGVVCVWTCUWNNCVVG CNKOGPVCTGPQPUQPQNCUQNW\KQPGFGNRTQDNGOCKPSWCPVQFCNNGKPFCIKPK GHHGVVWCVGCNKXGNNQGWTQRGQEQPHGTOCVGCPEJGFCNNCTGNC\KQPGFK/GP IJKKNEQPUWOCVQTGUKFKEGKPVGTGUUCVQCSWCNKViGQTKIKPGFGNRTQFQVVQ OCRQKCESWKUVCIWCTFCPFQCNRTG\\Q.¶GWTQRCTNCOGPVCTGJCTKDCFKVQ NCPGEGUUKViFKEQPEGPVTCTGKNRTQFQVVQRWPVCPFQUW&12GSWCNKViWPKTG INKCVVQTKFGNNC¿NKGTCGCPFCTGXGTUQSWGK2CGUKEJGJCPPQRQUUKDKNKViFK CESWKUVQEQOGKOGTECVKUVCVWPKVGPUKGECPCFGUK2GTINKCNNGXCVQTKFK OQPVCIPCKP¿PGDKUQIPCKPVGTXGPKTGEQPWPUQUVGIPQFKTGVVQCNRTQFWV Gi\qq`XccXjkXccX\gi\qq`XcZfejldf 0GNKNNCVVGGTCRCICVQCNN¶CNNGXCVQTGNKTGCNNKVTQOGP VTGKNRTQFQVVQHTGUEQRCUVQTK\\CVQCNEQPUWOQEQUVCXCNKTG KNRTG\\QFGNNCOCVGTKCRTKOCKPEKFGXCFWPSWGRGTKN 8GPVWPCPPKFQRQPGNKNNCVVGCNNCUVCNNCXGPKXCRCICVQ EKTECNKTGCNNKVTQOGPVTGKNRTG\\QFGNHTGUEQRCUVQTK\\CVQ CN EQPUWOQ GTC RCUUCVQ C NKTG CN NKVTQ KN RTG\\Q FGNNC OCVGTKC RTKOC KPEKFGXC RGT KN ' XGPKCOQ CN WP NKVTQFKNCVVGHTGUEQQIIKEQUVCFCGWTQ¿PQC GWTQPGNNCITCPFGFKUVTKDW\KQPGOCCNN¶CNNGXCVQTGKVCNKCPQXKGPG RCICVQKPVQTPQCKEGPVGUKOK1IIKNCOCVGTKCRTKOCKPEKFG RGTEKTECKN.GC\KGPFGCITKEQNGPQPTKGUEQPQRK~CEQRTKTG K EQUVK FK RTQFW\KQPG OGPVTG NC )&1 PQP UECN¿UEG K RTQRTK OCTIKPKFKIWCFCIPQ /QNVGUVCNNGJCPPQEJKWUQCNVTGUQPQCTKUEJKQ C8KK<N;8CK8MFCFG<I@CJFJK<>EF<C8M8CFI@QQ8Q@FE<;<CC8=@C@<I8C8KK<I@LE@KF8CD@G88= @ekXekfXii`mXle[\Zi\kf Èg\ii`cXeZ`Xi\`cj\kkfi\É ³&QDDKCOQFCTGWPCUXQNVCCKTCRRQTVKPGNUGVVQTGFGNNCVVGGUWRGTC TGINKQUVCEQNKUVTWVVWTCNKEJGFCCPPKEKVTCUEKPKCOQGEJGRGPCNK\\CPQ UQRTCVVWVVQINKCNNGXCVQTK´NQJCCHHGTOCVQKNOKPKUVTQFGNN¶#ITKEQNVWTC /CWTK\KQ/CTVKPCCN6CXQNQFGNNCVVGN¶HGDDTCKQPGNRTGUGPVCTGNG OKUWTGRGTTCHHQT\CTGN¶QTICPK\\C\KQPGGEQPQOKECFGNNCRTQFW\KQPGG FGNN¶KPVGTRTQHGUUKQPGPGNNC¿NKGTCNCVVKGTQECUGCTKC*CPPQRCTVGEKRC VQCNNCTKWPKQPGINKCUUGUUQTKCNN¶CITKEQNVWTCFGNNG4GIKQPK.QODCTFKC 'OKNKC4QOCIPC.C\KQ%CORCPKC2WINKC(TKWNK8GPG\KC)KWNKCGNG FGNGIC\KQPK FGNNG RTKPEKRCNK QTICPK\\C\KQPK CITKEQNG G KPFWUVTKCNK FGN EQORCTVQ .C XQNQPVi p TCHHQT\CTG N¶QTICPK\\C\KQPG GEQPQOKEC FGN NCRTQFW\KQPGCITKEQNCGFGNN¶KPVGTRTQHGUUKQPCNKViEQPVTCVVWCNGGCNNQ UVGUUQVGORQTKHQTOCTGKNFGETGVQOKPKUVGTKCNGFKCRRNKEC\KQPGFGN2CE EJGVVQNCVVG³2GTSWGUVQKPVGPFKCOQTCHHQT\CTGNCEQNNCDQTC\KQPGVTC /KPKUVGTQG#PVKVTWUV´+N/KRCCHEQPNCEQNNCDQTC\KQPGFK+UOGCHCTi WPOQPKVQTCIIKQRGTKQFKEQFGNNGRTKPEKRCNKENCUUKFKRTQFQVVKCITKEQNK UWNN¶CPFCOGPVQFGKEQUVKOGFKFKRTQFW\KQPGFGKRTG\\KFGKRTQFQVVK RCICVKCKRTQFWVVQTKGFKSWGNNKRTCVKECVKCNEQPUWOCVQTG³.CFFQXGUK TKUEQPVTCUUGTQFGNNGRTCVKEJGUNGCNKUKCOQRTQPVKCRTQEGFGTGEQPNG FQXWVGUGIPCNC\KQPKCNN¶#WVQTKViICTCPVG´ &WGNGRTKPEKRCNKPQXKViPGNNCTKHQTOCFGNFGETGVQUWN2CEEJGVVQ.CVVG OCIIKQTK ICTCP\KG EQPVTCVVWCNK RGT K RTQFWVVQTK EQP ENCWUQNG QDDNK ICVQTKG UW FWTCVC G TKURGVVQ FGN RTKPEKRKQ FK DWQPC RTCUUK PQPEJo WPUKUVGOCUCP\KQPCVQTKQRGTNGKPQUUGTXCP\GGN¶KUVKVW\KQPGFKWPC %QOOKUUKQPG KPVGTRTQHGUUKQPCNG .CVVG EQP KN EQORKVQ FK KPFKECTG NG DWQPGRTCVKEJGNGVGPFGP\GFGKRTG\\KGFGKEQUVKFKRTQFW\KQPG³5WN HTQPVGFGNN¶GVKEJGVVCVWTCCDDKCOQRTQRQUVQCNNC¿NKGTCFKFCTGWP¶KPHQT OC\KQPGEJKCTCGQOQIGPGCCKEQPUWOCVQTKUWNNWQIQFKOWPIKVWTC´ JCFGVVQ/CTVKPC VQTG7PRTKOQRCUUQFKXCNQTK\\C\KQPGFGKRTQFQVVKFKSWGUVCCTGCpUVCVQ HCVVQEQPN¶KPVTQFW\KQPGFGNOCTEJKQGWTQRGQ³.CVVGFKOQPVCIPC´GCNVTK KPVGTXGPVKFGXQPQGUUGTGCVVWCVKCVVTCXGTUQNC2CE (TCPEQ /CP\CVQ JC CPPWPEKCVQ WP UWOOKV UWN ³FQRQ SWQVG´ EQP K TCRRTGUGPVCPVK FK VWVVQ KN OQPFQ CITKEQNQ RTGXKUVQ CINK KPK\K FK OCT\Q +P OGTKVQ CN RTQUUKOQ 2UT ³ #DDKCOQ RWPVCVQ C UQUVGPGTG N¶KORTGUC CITKEQNC±JCTKOCTECVQGCVCN¿PGCDDKCOQCWOGPVCVQNGTKUQTUGEJG PGNNCUEQTUCRTQITCOOC\KQPGGTCPQFKOKNKQPKRQTVCPFQNGC OKNKQPK.¶KPVGITC\KQPGRTQXKGPGFCK¿PCP\KCOGPVKEJGPGNRCUUCVQGTCPQ FGUVKPCVKCDGPG¿EKCTKRWDDNKEKQRCTCRWDDNKEK´ )KWUGRRG%CUVKINKQPGPGNTKPITC\KCTGRGTN¶QEECUKQPGFKEQPHTQPVQEQP NCTGCNViVGTTKVQTKCNGJCKPHQTOCVQNCRNCVGCFKCXGTIKiCHHTQPVCVQKPUKGOG CNN¶QPQTGXQNG&QTHOCPPCNEWPGSWGUVKQPK³5GEQPFQKN)QXGTPQN¶CITKEQN VWTCPQPpUQNQRTQFW\KQPGCNKOGPVCTG±JCURKGICVQOCpCPEJG CODKGPVGCUUGVVQFGNVGTTKVQTKQGSWKNKDTKQKFTQIGQNQIKEQ5WNTKUEJKQENK OCVKEQPC\KQPCNGEKUQPQFGKHQPFKEJGRQVTCPPQGPVTCTGKPIKQEQCPEJG PGNUGVVQTGRTKOCTKQ$KUQIPGTiEGTVCOGPVGKPVGTXGPKTGUWNNCXQNCVKNKVi FGKRTG\\KGUWKRTQDNGOKEJGQIIKUQPQGOGTUK´ .QFQXKEQ)KWUVKPKCPKRTGUKFGPVGFK%QPHCITKEQNVWTC6TGXKUQKPEJKWUWTC FGNN¶KPEQPVTQJCUQNNGXCVQKNRTQDNGOCFGNNCTCRRTGUGPVCP\CCKXCTKNKXGNNK FGNOQPFQCITKEQNQUGIPCNCPFQEJGKPFKXGTUKECUKNGXGTGRTQDNGOCVKEJG FGNUGVVQTGUQPQRCUUCVGKPUGEQPFQRKCPQGEQOGUKCUVCVCUEQPEGTVCPVG N¶GUENWUKQPGFGNNG#UUQEKC\KQPKCNNGXCVQTKFK6TGXKUQGFK2CFQXCFCNN¶#+# DXik`eX1ÈDX^^`fi`^XiXeq`\ZfekiXkklXc` g\i`gif[lkkfi`\leX:fdd`jj`fe\ `ek\igif]\jj`feXc\CXkk\É +N/KPKUVGTQUVCCPEJGRTGFKURQPGPFQKNFGETGVQFKCVVWC\KQPGFGN (QPFQNCVVGFKSWCNKVi5RGEKHKECCVVGP\KQPGRQKCNRTQIGVVQ³.CVVG PGNNG UEWQNG´ EJG RCTVKTi PGN 4KDCFKVC KPHKPG N¶KORQTVCP\C FGNUQUVGIPQCNNGRTQFW\KQPKFGKEQOWPKFKOQPVCIPCEQPN¶KPFK EC\KQPGHCEQNVCVKXCFKSWCNKVi³RTQFQVVQFKOQPVCIPC´UWNNGEQP HG\KQPK +N OKPKUVTQ JC CPEJG TGUQ PQVQ FK CXGT UETKVVQ CN %QOOKUUCTKQ FGNN¶#ITKEQNVWTC 7G 2JKN *QICP EJKGFGPFQ NC TCVGK\\C\KQPG UGP\C KPVGTGUUK FGNNG GXGPVWCNK OWNVG RGT SWQVG NCVVG FGNN¶WNVKOC ECO RCIPC 2GT#ITKPUKGOGEJGIKiCXGXCEJKGUVQCNOKPKUVTQWPEQPHTQPVQ HKPCNK\\CVQCWPCUQUVCP\KCNGTGXKUKQPGFGKEQPVTCVVKVTCCNNGXCVQTKG FKVVGCESWKTGPVKNGNKPGGFKKPVGTXGPVQCPPWPEKCVGTCRRTGUGPVCPQ WPUGIPCNGRQUKVKXQRGTVGPVCTGFKCHHTQPVCTGKPOCPKGTCQTICPKEC NC ETKUK RGUCPVG %QPFKXKUKDKNG NC FGEKUKQPG FK FCTG RK~ UVCDKNKVi GEQPQOKECCNNCHKNKGTCCVVTCXGTUQN¶KPVGTRTQHGUUKQPG2GTEQPVTCUVC TGINKUSWKNKDTKKPHKNKGTCUCTiGUUGP\KCNGICTCPVKTGN¶CRRNKEC\KQPGTG CNGFGNN¶CTVKEQNQUWNN¶QDDNKIQFGKEQPVTCVVKUETKVVK(QPFCOGPVCNG NCEQPEGPVTC\KQPGFGNN¶QHHGTVCRGTTCHHQT\CTGKRTQFWVVQTKDKUQIPG TiUGEQPFQKN%QQTFKPCOGPVQNCXQTCTGRGTFGHKPKTGGSWCNKHKECTGNQ UVTWOGPVQFGNNG1ROGFKCPVGRCTCOGVTKEJGPGCVVGUVKPQNCTGCNG FGVGP\KQPGFKRTQFQVVQGNCECRCEKViFKEQOOGTEKCNK\\C\KQPG DXeqXkf1ÈGXik`Xdf`ei`kXi[f dXZ`jfefc\i`jfij\\cXgfjj`Y`c`k~ [`d\kk\i\Xglekfc\jkiXk\^`\É , 9ILO<CC<JN8:?<GLEKFßCË@K<I;<CGIF>I8DD8;@JM@CLGGFM<E<KF6 @edX^^`f`cm`Xc`Y\iX g\icË@kXc`X <lifg\XeLe`fe#)'(, 8[f^^`jfef0jl((/`gif^iXdd` [`jm`clggfiliXc\XggifmXk``e<lifgX - ÊCPEQTCKPEQTUQKNPGIQ\KCVQVTC4GIKQPG8GPGVQG%QOOKUUKQPGGW TQRGCRGTN¶CRRTQXC\KQPGFGN2UT8GPGVQ.C%QOOKUUKQPG GWTQRGC JC VTCUOGUUQ KN FKEGODTG NG QUUGTXC\KQPK WH¿EKCNK CNVGUVQFKRTQRQUVCKPXKCVQKNNWINKQFCNNC4GIKQPG8GPGVQ5K VTCVVCFKRWPVKVTCQUUGTXC\KQPKFKECTCVVGTGIGPGTCNGGQUUGTXC\KQPK URGEK¿EJGTKURGVVQCNNGSWCNKNC4GIKQPGUVCGNCDQTCPFQNGKPHQTOC\KQPK FKTKURQUVCCPEJGCVVTCXGTUQNCXGTK¿ECFGNNGEQPUGIWGPVKOQFK¿EJGFC CRRQTVCTGCNVGUVQFGNRTQITCOOC5QNQCNVGTOKPGFKSWGUVCUGEQPFC HCUGRQVTiCTTKXCTGNCFGEKUKQPGHQTOCNGFKCRRTQXC\KQPGFCRCTVGFGNNG CWVQTKViGWTQRGGCNNCSWCNGRQVTiHCTGUGIWKVQCPEJGN¶CRRTQXC\KQPGFGN 2UTCNKXGNNQTGIKQPCNG .GQUUGTXC\KQPKCN2TQITCOOCXGPGVQJCPPQTKIWCTFCVQVTCN¶CNVTQKNTGEG RKOGPVQFKGNGOGPVKQDDNKICVQTKKPUGTKVKPGNNCXGTUKQPG¿PCNGFGNN¶CEEQTFQ FKRCTVGPCTKCVQ+VCNKCNGTKUQTUGFCFGUVKPCTGCNNQUXKNWRRQFGNNGCTGGTWTCNK GKPRCTVKEQNCTGCINKKPVGTXGPVKUWNNGKPHTCUVTWVVWTGRGTFKHHQPFGTGNCDCPFC NCTICPQPEJoNGFQVC\KQPK¿PCP\KCTKGOKPKOGEJGKTGIQNCOGPVKRTGXGFQ PQRGTINKKPVGTXGPVKCITQENKOCVKEQCODKGPVCNK 3WCPVQCNNCVGORKUVKECFGNN¶KVGTDWTQETCVKEQUGEQPFQKNTGIQNCOGPVQGW TQRGQPFGN³NC%QOOKUUKQPGHQTOWNCQUUGTXC\KQPKGPVTQVTG OGUKFCNNCFCVCFKRTGUGPVC\KQPGFGNRTQITCOOC=?GCRRTQXCEKCUEWP RTQITCOOCGPVTQUGKOGUKFCNNCRTGUGPVC\KQPGFGNNQ5VCVQOGODTQ=? VCNGVGTOKPGPQPEQORTGPFGKNRGTKQFQEJGJCKPK\KQKNIKQTPQUWEEGUUK XQCNNCFCVCKPEWKNC%QOOKUUKQPGVTCUOGVVGNGQUUGTXC\KQPKCNNQ5VCVQ OGODTQGUKGUVGPFG¿PSWCPFQNQ5VCVQOGODTQPQPTKURQPFGCNNG QUUGTXC\KQPK´ 0GNECUQFGN8GPGVQSWKPFKNGQUUGTXC\KQPKEQOWPKVCTKGCXTGDDGTQFQXWVQ CTTKXCTGKNQVVQDTGUEQTUQGSWGUVQTKVCTFQUVCTCNNGPVCPFQCECUECVC N¶KVGTDWTQETCVKEQRGTNCRCTVGP\CEQPETGVCFGNNGOKUWTGEQPVGPWVGPGNPWQ XQ2UT #VVWCNOGPVG UQPQ UQNQ PQXG UW EGPVQFKEKQVVQ K 2TQITCOOK FK UXKNWRRQ TWTCNGCRRTQXCVKFC$TWZGNNGUVTCPC\KQPCNKGTGIKQPCNK*CPPQQVVGPWVQ UGOCHQTQXGTFGKRTQITCOOKPC\KQPCNKFK#WUVTKC&CPKOCTEC(KPNCPFKC 2QNQPKCG2QTVQICNNQKNRTQITCOOCSWCFTQPC\KQPCNGGSWGNNQFGNNCTGVG PC\KQPCNGFGNNC)GTOCPKCKRTQITCOOKTGIKQPCNKVGFGUEJKFGN5CEJUGPG FGN5CEJUGP#PJCNV .C %QOOKUUKQPG GWTQRGC RTGXGFG N¶CFQ\KQPG FK CNVTK SWKPFKEK Q XGPVK RTQITCOOKPGKRTKOKSWCVVTQEKPSWGOGUKFGN2GTN¶+VCNKCPGUUWP RTQITCOOCFQXTGDDGTKWUEKTGCFGUUGTGCRRTQXCVQRTKOCFKOCIIKQUG EQPFQ%QPHCITKEQNVWTC³.CTCIKQPGTKUKGFGPGNHCVVQEJGQNVTGCNPQTOCNG IKQEQPGIQ\KCNGFGK2UTUQVVQRQUVKCNN¶QMFK$TWZGNNGURGT³TKCNNQECTG´KN DWFIGVFGN PQPWVKNK\\CVQKPSWCPVQK2UTPQPUQPQRCTVKVKKPVGORQ pPGEGUUCTKCWPCOQFK¿ECFGNDKNCPEKQFGNN¶7G3WGUVCOQFK¿EC FQXTGDDGGUUGTGRTGUGPVCVCCNNC%QOOKUUKQPGPGNNGRTQUUKOGUGVVKOCPG RGTGUUGTGRQKCFQVVCVCFC%QPUKINKQG2CTNCOGPVQGPVTQOCIIKQ´ GFC@K@:88>I@:FC8NLEËLK@C<GL99C@:8Q@FE<>I8KL@K8;@<LIFG<;@I<:KM<E<KF CË@kXc`X[`]ifek\XccXi`]fidXG8: &CNIGPPCKQpGPVTCVC KPXKIQTGNCPWQXC2QNKVKECCITK EQNCEQOWPGEJGCEEQORCIPG TiNGUQTVKFGNN¶CITKEQNVWTCGWTQ RGC¿PQCN)NKCITKEQNVQTK UQPQ KP HQTVG HGTOGPVQ RGTEJo XQINKQPQ ECRKTG EQUC TKUGTXC FK DWQPQ SWGUVC GPPGUKOC TKHQT OC NC SWKPVC KP XGPV¶CPPK +N 3WCFGTPQ P FGNNC %QNNCPC GFKVQTKCNG FK 'WTQRG &KTGEV 8G PGVQURQTVGNNQGWTQRGQFK8GPG VQ#ITKEQNVWTCFCNVKVQNQ³.¶+VCNKC FKHTQPVGCNNCTKHQTOCFGNNC2#% ´pWPCRWDDNKEC\KQPGGUCWTKGPVGRGTRQVGTUKFGUVTGI IKCTGVTCNGPQXKViRGTEJoGPVTCPGKFGVVCINKFGNPWQXQTGIKOGFGK RCICOGPVKFKTGVVKFGNRCICOGPVQFKDCUGGFKVWVVKINKCNVTKRTGXKUVK FCNTGIQNCOGPVQEQOWPKVCTKQFGNN¶1TICPK\\C\KQPGEQOWPGFKOGT ECVQWPKECGNCRTQUUKOCRQNKVKECFKUXKNWRRQTWTCNGQTCOCKCNXKC 7PECRKVQNQTKIWCTFCCPEJGINKUEGPCTKEJGUKCRTKTCPPQRGTN¶CITK EQNVWTCXGPGVCFKHTQPVGCNNCPWQXCTKHQTOCKPRCTVKEQNCTGXGPIQPQ VTCVVGIIKCVGNGUVQTVWTGEJGRQVTGDDGTQETGCTUKKP8GPGVQCUGIWKVQ FGNNGUEGNVGPC\KQPCNKUWNRCICOGPVQCEEQRRKCVQ .CXGTUKQPGECTVCEGCFGN3WCFGTPQPRWyGUUGTGEJKGUVCITC VWKVCOGPVGCGWTQRGFKTGEV"XGPGVQCITKEQNVWTCQTI TKEQTFCTUKFKKP FKECTGN¶KPFKTK\\QFKRQUVCQTFKPCTKCCEWKGHHGVVWCTGNCURGFK\KQPG .CXGTUKQPGKP2&(RWyGUUGTGUECTKECVCFCNNKPM JVVRYYYXGPGVQCITKEQNVWTCQTIDCUKERJR!+& G8>8D<EK@;@I<KK@NCË@EK<IM<EKF:I@K@:F;@8>I@EJ@<D<E8Q@FE8C<<;@:FE=8>I@:FCKLI8M<E<KF ÈJfjk\e\i\c\Xq`\e[\# efeg\eXc`qqXic\É +N RTGUKFGPVG FK %QPHCITKEQNVWTC 8GPGVQ .QTGP\Q 0KEQNK JC UETKVVQ CNN¶CUUGUUQTG TGIKQPCNG CNN¶#ITK EQNVWTC (TCPEQ /CP\CVQ KPHQT OCPFQNQ FGNN¶KPK\KCVKXC CUUWPVC FC #ITKPUKGOG %QQTFKPCOGPVQ PC\KQPCNG EQPVTQ NC DQ\\C FK FG ETGVQ OKPKUVGTKCNG UWK RCICOGPVK FKTGVVK C UGIWKVQ FGNNC TKHQTOC 2CE0GNN¶GXKFGP\KCTGEJG³SWGUVC UGEQPFC XGTUKQPG FGN RTQXXGFK Cfi\eqfE`Zfc` OGPVQUKCRGTNGPQXKViKPVTQFQV VGUKCRGTKNHCVVQFKTKOGVVGTGKP jlggfikX`eM\e\kf FKUEWUUKQPG CNEWPK RWPVK HGTOK cXgfj`q`fe\[\c FGNUKUVGOCFGKRCICOGPVKFKTGVVK OGPVTGUKUVCPPQIKiRTGRCTCPFQ :ffi[`eXd\ekf NGFQOCPFGGEQOWPSWGKPEQTUQ F¶QRGTCTKUEJKCFKETGCTGUGTKRTQ DNGOKCNNGKORTGUGCITKEQNGRTQRTKQPGNNCRTKOCHCUGFKCRRNKEC\KQPG FGNNC TKHQTOC´ 0KEQNK EJKGFG CNN¶CUUGUUQTG FK HCTG KN RQUUKDKNG RGT QVVGPGTGNCTGXKUKQPGFKWPRTQXXGFKOGPVQEJGPGNNCUVGUWTCCVVWCNG ³RWy RGPCNK\\CTG N¶CVVKXKVi FGNNG C\KGPFG OGPVTG KPXGEG FQXTGDDG UQUVGPGTNG´ %QOG JC EJKCTCOGPVG URKGICVQ /CTKQ )WKFK PGNNC NGVVGTC CN OK PKUVTQ FGNN¶#ITKEQNVWTC /CWTK\KQ /CTVKPC G CNN¶QPQTGXQNG (CDTK\KQ 0CTFQPK CUUGUUQTGCNNCRQNKVKEJGCITKEQNGFGNNC4GIKQPG2WINKC #ITKPUKGOGPQPEQPFKXKFGNGPWQXGGUQUVCP\KCNKOQFK¿EJGKPVTQ FQVVGEQPN¶WNVKOCXGTUKQPGFGNRTQXXGFKOGPVQ³.GPQXKViKPOCVG TKCFKFG¿PK\KQPGFK³CITKEQNVQTGCVVKXQ´KPRTKOQNWQIQ±UKNGIIG CWOGPVCPQNCUGNGVVKXKViFGNNCOKUWTCKPVTQFWEGPFQGNGOGPVKFGN VWVVQPWQXKTKURGVVQCNN¶CEEQTFQRQNKVKEQUWNN¶CVVWC\KQPGFGNNCTKHQT OCFKNWINKQGVTCUOGUUQCNNC%QOOKUUKQPG.¶WUQFGNEQFKEG #6'%1 WPKVCOGPVG CK OGEECPKUOK RTQRQUVK RQK RGT NC XGTK¿EC FGNN¶KPEKFGP\CFGKRCICOGPVKFKTGVVKUWKRTQXGPVKFGNNGCVVKXKViPQP CITKEQNG G FGN TGFFKVQ CITKEQNQ UWN TGFFKVQ EQORNGUUKXQ RQP IQPQUGTKFWDDKUWNNCOCIIKQTG EQORNGUUKViEJGPGFGTKXGTiKP VGTOKPKFKIGUVKQPG´ )WKFKRTQUGIWGCHHGTOCPFQEJG ³5KFGXGCPFCTGXGTUQWPC2#% RK~ UGORNK¿ECVC G SWGUVQ PQP RCTGFCXXGTQKNRGTEQTUQRK~KFQ PGQCTCIIKWPIGTGSWGUVQQDKGV VKXQ +PQNVTG NC UQRRTGUUKQPG DXi`f>l`[` FGNNC OKUWTC EJG RTGXGFGXC NC TKFW\KQPGFGNN¶RGTEGPVQFGN i`YX[`jZ\cX NG UWRGT¿EK C RCUEQNQ ³OCITQ´ e\Z\jj`k~[`leX Q ³KP SWQVC´ QNVTG OGVTK PQPCRRCTGOQVKXCVCGOQFK¿EC GXZj\dgc`ÔZXkX KPEQTUQF¶QRGTCKNSWCFTQFGNNG TGIQNGCUWQVGORQFG¿PKVQ%Ky EQPEJKCTQRTGIKWFK\KQRGTSWGINKCITKEQNVQTKKVCNKCPKEJGJCPPQIKi GHHGVVWCVQ FGNNG UEGNVG TKURGVVQ CN FGETGVQ KP XKIQTG FCNNQ UEQTUQ PQXGODTG 1NVTG KN HCVVQ EJG NC TKFW\KQPG FGNNG CTGG RCUEQNCVKXG p KP NKPGC IGPGTCNG CWURKECDKNG RGTEJo EQPVKGPG NC TKEJKGUVC FK PWQXKVKVQNKFKUCEEQRRKCVKGUQRTCVVWVVQVKGPGEQPVQFGNNCFKXGTUC RTQFWVVKXKViFGNNGUWRGT¿EKCITKEQNG ÊKPQNVTGFCXCNWVCTGNCKORTQXXKUCRTGXKUKQPGFKWPCVTCVVGPWVCUWK VTCUHGTKOGPVKFKVKVQNKUGP\CVGTTCEJGRQVTGDDGKPÀWGP\CTGPGICVK XCOGPVGPGNNCFGNKECVCHCUGFKCXXKQFGNNCTKHQTOCNGVTCUHQTOC \KQPKGNGEGUUKQPKC\KGPFCNK´ +P¿PGPGNTKEJKCOCTGN¶CVVGP\KQPGUWNNGQUUGTXC\KQPKEJGKNEQQTFK PCOGPVQ FK #ITKPUKGOG JC IKi VTCUOGUUQ PGNNG UEQTUG UGVVKOCPG CN /KRCCH )WKFK KPXKVC KN OKPKUVTQ G N¶QPQTGXQNG C TKEQPUKFGTCTG NG WNVKOG PQXKVi FGNNC DQ\\C FGN FGETGVQ KP OCPKGTC FC TGPFGTG RK~ ÀWKFCGNKPGCTGNCRTKOCCRRNKEC\KQPGFGNPWQXQTGIKOGFGKRCIC OGPVKFKTGVVK CXmfifX^i`Zfcf18^i`ej`\d\`eZfekiX`cd`e`jkifGfc\kk` 5KpVGPWVQKNHGDDTCKQWPKPEQPVTQUWNN¶QEEWRC\KQPGCITKEQNC VTCKNOKPKUVTQFGN.CXQTQGFGNNG2QNKVKEJGUQEKCNK)KWNKCPQ2Q NGVVKG#ITKPUKGOGPC\KQPCNG .CTKHQTOCFGNNCXQTQKPEQTUQ ,QDU#EVRCTGCPFCTGPGNNCFKTG \KQPGCWURKECVCFCNOQPFQRTQFWVVKXQÀGUUKDKNKViPGKTCRRQTVK FKNCXQTQGUGORNK¿EC\KQPGFGINKCFGORKOGPVKCOOKPKUVTCVKXK 0GNN¶GURTKOGTGUQFFKUHC\KQPGRGTN¶GUVGPUKQPGCNUGVVQTGCITKEQ NQ GUENWUQPGNN¶QTKIKPCTKCXGTUKQPGFGNFKUGIPQFKNGIIGFGNNQ UITCXKQEQPVTKDWVKXQVTKGPPCNGRGTKPWQXKCUUWPVKCVGORQKPFG VGTOKPCVQKPVTQFQVVQFCNNCNGIIGFKUVCDKNKViRGTKN#ITKP UKGOGJCUGIPCNCVQN¶GUKIGP\CFKFCTGEQORNGVCCVVWC\KQPGCF CNVTGKORQTVCPVKGTGEGPVKPQXKViKPOCVGTKCFKNCXQTQCITKEQNQ SWCNKNGCUUWP\KQPKEQPIKWPVGGINKKPEGPVKXKRGTN¶CUUWP\KQPGFK IKQXCPK ECORQNKDGTQWPTGIKOGURGEK¿EQRGTKNNCXQTQUVC IKQPCNGUGORNK¿EC\KQPGGUQUVGPKDKNKViFGINKCFGORKOGPVKRGT NCKUKEWTG\\CUWNNCXQTQ .¶QEEWRC\KQPG CITKEQNC EJG EQPVC QIIK OKNKQPG G OKNC FKRGPFGPVKCUUWPVKFCOKNCKORTGUGCITKEQNGJCUQUVCP \KCNOGPVGVGPWVQPQPQUVCPVGNCETKUKFCSWKNCNGIKVVKOCTKEJKG UVCFKTKRTKUVKPQFGNNGFGFW\KQPK+4#2RGTKNCXQTCVQTKCVGORQ FGVGTOKPCVQ UVCDKNOGPVG KPUGTKVK PGNNC EQORCIKPG C\KGPFCNG KPVTQFQVVG PGK OGUK UEQTUK FCN FGETGVQ ECORQNKDGTQ G FCNNC NGIIGFKUVCDKNKViRGTKNGRQKCDTQICVGFCNFGETGVQNGIIG PFGNIGPPCKQ . M@K@:FCKLI8N;@I@KK@;Ë@DG@8EKF18GGIFM8KF;<:I<KFD@G88=G<IKI8J=<I@9@C@KÁKI8I<>@FE@ LeXc`Y\iXc`qqXq`fe\Z_\ fjj`^\eX`cZfdgXikfm\e\kf / ³7PCPQVK\KCRQUKVKXCCWURKEC VCFCVGORQ´%JTKUVKCP/CTEJG UKPK RTGUKFGPVG FGNNC 5G\KQPG XKVKEQNVWTC FK %QPHCITKEQNVWTC 8GTQPCGFGNEQPUQT\KQFKVWVGNC FGN8CNRQNKEGNNC&QEEQOOGPVC EQUt N¶CRRTQXC\KQPG FC RCTVG FGN %QPUKINKQ FGK OKPKUVTK FGN FGETGVQ RTQRQUVQ FCN /KRCCH EQPVGPGPVG NC FGTQIC RGT NC EQPXGTUKQPG FGK FKTKVVK ¿PQ CN FKEGODTG G NC VTCUHG :_i`jk`XeDXiZ_\j`e` TKDKNKVi FGK FKTKVVK F¶KORKCPVQ VTC TGIKQPK #DTQICVC NC RQUUKDKNKVi FKNKOKVCTGKNFKTKVVQFKTGKORKCPVQ³CFCODKVKVGTTKVQTKCNKQOQIGPGKG NKOKVCVKCN¿PGFKVWVGNCTGNGXKVKEQNVWTGFKSWCNKViGUCNXCIWCTFCTGINK CODKGPVKQTQITC¿ECOGPVGFKH¿EKNK´ 5QFFKUHCVVQ /CTEJGUKPK EJG URKGIC ³5KC EQOG %QPHCITKEQNVW TC EJG EQOG (GFGTFQE UK EJKGFGXC FC OQNVQ VGORQ FK GXKVCTG NC FKURGTUKQPG FGN RCVTKOQPKQ XKPKEQNQ 0GN PQUVTQ ECUQ EQP KN 8CNRQNKEGNNC G KN 8GPGVQ EJG XKCIIKCPQ EQP WP VTGPF KP ETGUEKVC CVVQTPQCNFWGRGTEGPVQFGNNCUWRGT¿EKGXKVCVCNCNKDGTCNK\\C\KQ PGFGKFKTKVVKKPVGTTGIKQPCNKRGTOGVVGWPWNVGTKQTGUXKNWRRQFGNNC XKVKEQNVWTCUGP\CKVGORKNWPIJKUUKOKFGNNCDWTQETC\KC´ +FKTKVVKFKTGKORKCPVQFGVGPWVKQIIKFCKRTQFWVVQTKXGPGVKCOOQP VCPQCEKTECOKNCGVVCTK KNFGNNCUWRGT¿EKGXKVCVCPC\KQ PCNGEQPNGOQFK¿EJGCRRTQXCVGKNHGDDTCKQUKVGPFGCFK OKPWKTG KN TKUEJKQ FK PQP WVKNK\\Q FGK FKTKVVK SWKPFK FK RGTFKVC FK RQVGP\KCNGXKVKEQNQPQPEJoCECNOKGTCTGKRTG\\KFKWPOGTECVQ KPHQTVGCWOGPVQ <efejfcf1`e@kXc`X`cm`ef lej\kkfi\ jkiXk\^`Zf[Xfcki\(+d`c`Xi[`[`\lif# Zfefcki\,d`c`Xi[`[`\ogfik Efd`^\f^iXÔZ`g`Xdg` %TKVGTKRGTKNEQTTGVVQWUQEQOOGTEKCNGKPFKEC\KQPGKPGVK EJGVVC G RTGUGPVC\KQPK FGNNG RTQFW\KQPK XKVKXKPKEQNG &12 G +)2EQP³PQOKIGQITC¿EKRK~CORK³ 4GIKQPGQ2TQXKPEKC UQPQ EQPVGPWVK PGNNC EKTEQNCTG FGN /KRCCH EJG FGUETKXG FWGUKVWC\KQPK3WGNNCKPEWKKFKUEKRNKPCTKEQPUGPVQPQN¶WUQ FGNPQOGIGQITC¿EQRK~CORKQCPEJGUGRTQVGVVQGSWGNNC KPEWKKFKUEKRNKPCTKPQPJCPPQPQTOCVQN¶WUQFKWPPQOGIGQ ITC¿EQRK~CORKQ0GNNCRTKOCKRTQFWVVQTKRQUUQPQKPFKECTG KNPQOGRK~CORKQKPGVKEJGVVCCPEJGKPECTCVVGTKFKFKOGP UKQPKTKNGXCPVKCRCVVQEJGUKCRTGXKUVQPGKFKUEKRNKPCTK&12 KPVGTGUUCVKPQPUKCTKUGTXCVQCFCNVTC&12Q+)2COGPQEJG N¶+PVGTRTQHGUUKQPGPQPNQEQPUGPVC0GNNCUGEQPFCNQUVGUUQ PQOGIGQITC¿EQRK~CORKQRWyGUUGTGWUCVQRGTKXKPK&12 G+)2EJGTKECFQPQPGNN¶CODKVQVGTTKVQTKCNGKPVGTGUUCVQCRCV VQEJGUKCTKRQTVCVQPGNEQPVGUVQFGINKGNGOGPVKFGUETKVVKXK PGVVCOGPVGUGRCTCVQFCNNGKPFKEC\KQPKQDDNKICVQTKG¿IWTKKP ECTCVVGTK FGNNG UVGUUG FKOGPUKQPK G EQNQTK TKURGVVQ C SWGNNK WUCVKRGTINKCNVTKGNGOGPVKFGUETKVVKXK %KTEQNCTG2TQV0FGNFKEGODTG M@K@M@E@:FCFN8CFE@>F:FEM<>EF;@M<E<KF8>I@:FCKLI8$<LIFG<;@I<:KM<E<KF Gif[lq`fe\`eZXcf%DX`cd\iZXkfk`\e\ ³.CFKPCOKEKViFGNUGVVQTGXKVKXKPKEQNQXGPGVQpUQVVQINKQEEJK FK VWVVK PQPQUVCPVG WPC XGPFGOOKC RCTVKEQNCTOGPVG FKH¿EKNG´ JCEQOOGPVCVQN¶CUUGUUQTG(TCPEQ/CP\CVQCNEQPXGIPQFGN IGPPCKQQTICPK\\CVQC.QPKIQ 8+FC8GPGVQ#ITKEQNVWTCG4GIKQ PG8GPGVQRGTRTGUGPVCTGKNEQPUWPVKXQFGNNCXGPFGOOKC+N FCVQRK~UKIPK¿ECVKXQpRWTVTQRRQKNECNQFGNNCRTQFW\KQPGFKWXC TKURGVVQCNGFKXKPQEQPXCTKC\KQPKEJGXCP PQFCNFGNNCRTQXKPEKCFK8KEGP\CCNFK6TGXKUQ +NOGTECVQGUVGTQVKGPG3WCPVKVCVKXKFKRTQFW\KQPGCRCTVGGPQPQ UVCPVGNCETKUKIGPGTCNGKNEQORCTVQXKVKXKPKEQNQTGIKQPCNGpKPETGUEK VCRGTSWCPVQTKIWCTFCNGGURQTVC\KQPKEQPWPFKPGKRTKOK PQXGOGUKFGN0GNNCPQUVTCTGIKQPGUKpCXWVCWPCRTQFW\KQPG FKSWKPVCNKKPHQTVGECNQTKURGVVQCNNCXGPFGOOKC SWCPFQKSWKPVCNKTCEEQNVKGTCPQUVCVK+PVGTOKPKRGTEGP VWCNKUKVTCVVCFKWPFQXWVQCNNGGEEGUUKXGRKQIIGGUVKXGEJG JCPPQVQTOGPVCVQN¶KPVGTCHCUGFKOCVWTC\KQPGFGNNGWXG .CXGPFGOOKCPGN8GPGVQJCXK UVQWPCRTQFW\KQPGFKSWKP VCNKFKWXCRGTXKPK&1 TKURGVVQ CNGSWKPVCNKFKWXC RGT XKPK +)6 UWN #NVTK SWKPVCNK FK WXC UQPQ KPXGEGFGUVKPCVKCNNCRTQFW\KQPGFKXKPQGXKPQXCTKGVCNG+NXKPQ GURQTVCVQFCN8GPGVQ EJGXCNGQNVTGWPVGT\QFGNN¶GZRQTVFKXKPQ KVCNKCPQpWPHCVVQTGFKVTCKPQEJGPQPJCOCKUOGUUQFKETGUEG TGPGINKWNVKOKCPPKVQVCNK\\CPFQWPPWQXQTGEQTFVTCIGPPCKQG UGVVGODTGFGNEQPOKNKCTFKFKGWTQGWPVCUUQFKETGUEK VCRCTKCNTKURGVVQCNNQUVGUUQRGTKQFQFGN7PCFGNNG EJKCXKFKSWGUVQUWEEGUUQCNN¶GUVGTQpKNXKPQURWOCPVGEJGUKUVC CHHGTOCPFQ CFFKTKVVWTC EQOG DGXCPFC FK EQPUWOQ SWQVKFKCPQ FCNCNNQURWOCPVGGURQTVCVQFCNNCPQUVTCTGIKQPG JCTCIIKWPVQVCUUKFKETGUEKVCCPPWCNKKPXCNQTGGKPSWCPVKViOCK KPHGTKQTKCN Jf[[`j]Xq`fe` [XccË\ogfik FC@M@:FCKLI8NC<+C@E<<;@@EK<IM<EKF;<CD@E@JK<IFG<II@C8E:@8I<:FDG<K@K@M@KÁ;<CJ<KKFI< =ifek\^^`Xi\c\Zi`k`Z`k~ \iXZZf^c`\i\c\elfm\jÔ[\ E\cg`Xefgi\j\ekXkfXckXmfcf[`Ôc`\iX# cXgifdfq`fe\[\ccXhlXc`k~`kXc`XeX \`cgfj`q`feXd\ekfjl`d\iZXk`% :fe]X^i`ZfckliXZ_`\[\`efcki\elfm\ ]fid\[`Zi\[`kf ;`m`\kf[`iXYYfZZf +N UGVVQTG QNKXKEQNQ EQODCVVG FC UGORTG EQPVTQ ITCPFK ETKVK EKVi UVTWVVWTCNK VTWHHG G EQPVTCHHC\KQPK SWGUV¶WNVKOC CPPCVC p UVCVC KPQNVTG EQPFK\KQPCVC FC OCNVGORQ G ¿VQRCVKG EJG JCPPQ HCNEKFKCVQ NC RTQFW\KQPG WP RKCPQ WTIGPVG C UQUVGIPQ FGN UGV VQTGpSWCPVQOCKPGEGUUCTKQ.QJCTKDCFKVQKNRTGUKFGPVGFGNNC (GFGTC\KQPG PC\KQPCNG QNKXKEQNC FK %QPHCITKEQNVWTC &QPCVQ 4QU UK KPVGTXGPWVQ KN IGPPCKQ CNNC TKWPKQPG FGN VCXQNQ FK ¿NKGTC QNKXKEQNQQNGCTKQ KPFGVVQ FCN OKPKUVGTQ RGT NG 2QNKVKEJG CITKEQNG EQPKTCRRTGUGPVCPVKFGNNGQTICPK\\C\KQPKCITKEQNGFGKRTQFWVVQ TKFGNN¶KPFWUVTKCFKVTCUHQTOC\KQPGGFGNNCEQOOGTEKCNK\\C\KQPG 0GNEQTUQFGNN¶KPEQPVTQCEWKJCRCTVGEKRCVQKNOKPKUVTQ/CWTK\KQ /CTVKPC p UVCVQ HCVVQ KN RWPVQ UWNNC UKVWC\KQPG FGNN¶QNKXKEQNVWTC KVCNKCPCGUQPQUVCVGFKUEWUUGNGOKUWTGRGTOKINKQTCTGNCEQO RGVKVKXKViFGNUGVVQTG &QPCVQ4QUUKJCEQPEQTFCVQUWNNGSWCVVTQNKPGGRTQITCOOCVKEJG KPFKECVG FCN OKPKUVTQ SWCNK¿EC\KQPG FGN RTQFQVVQ RGT VWVGNCTG G RTQOWQXGTGNCSWCNKViFGNRTQFQVVQKVCNKCPQGHCXQTKTPGKNRQUK\KQ PCOGPVQ UWK OGTECVK CPEJG KPVGTPC\KQPCNK OKINKQTCOGPVQ FGNNC UVTWVVWTC\KQPGFK¿NKGTCRGTTGPFGTNCRK~EQGUCRK~GH¿ECEGRQNKVKEC FKEQOWPKEC\KQPGKPVTQFW\KQPGFKGNGOGPVKKPPQXCVKXKEQINKGPFQ NGQRRQTVWPKViNGICVGCNN¶'ZRQFK/KNCPQ .¶+VCNKCpKNUGEQPFQRCGUGQNKXKEQNQKP'WTQRCFQRQNC5RCIPC EQPOKNKQPKFKRKCPVG ³.¶QNKQ p WP UGVVQTG UVTCVGIKEQ RGT N¶CITQCNKOGPVCTG KVCNKCPQ JC CHHGTOCVQKNOKPKUVTQ/CTVKPCRGTSWGUVQCDDKCOQRTQRQUVQCNNC ¿NKGTCWPRKCPQCTVKEQNCVQFKC\KQPKFKDTGXGGNWPIQRGTKQFQ#D DKCOQXKUUWVQWP¶CPPCVCEQORNKECVCGRGTSWGUVQIKiPGNNGRTQU UKOGQTGOGVVGTGOQKPECORQEQPNGTGIKQPKWPCUGTKGFKC\KQPK EJGCDDKCPQGHHGVVQPGNN¶KOOGFKCVQ0GNNCTKRCTVK\KQPGFGINKCKWVK CEEQRRKCVKCDDKCOQIKiUVCP\KCVQQNVTGOKNKQPKFKGWTQCNN¶CPPQ RGT N¶QNKXKEQNVWTC OC XQINKCOQ KPVGTXGPKTG CPEJG EQP K HQPFK FK UXKNWRRQTWTCNGIKiFCNNCRTQUUKOCRTKOCXGTC´ ³5QRTCVVWVVQ±JCRTGEKUCVQKNRTGUKFGPVGFGNNC(GFGTC\KQPGQNKXKEQ NCFK%QPHCITKEQNVWTCDKUQIPCHCXQTKTGN¶KPVGTPC\KQPCNK\\C\KQPGWP RGTEQTUQ QDDNKICVQ RGT NG KORTGUG EJG VTQRRQ URGUUQ p DNQEECVQ &CNPQXGODTGQDDNKIQFKDQVVKINKGEQPUKIKNNQCP VKOCPQOKUUKQPGRGTKORGFKTGKNTCDDQEEQFGNN¶QNKQFGXQPQ GUUGTPGFQVCVKKRWDDNKEKGUGTEK\KEJGRTQRQPIQPQCKENKGPVK QNKQ FK QNKXC .G EQPHG\KQPK HCVVK UCNXK INK WUK FK EWEKPC G RTGRCTC\KQPGFGKRCUVKFGXQPQGUUGTGRTGUGPVCVGGVKEJGV VCVGEQPHQTOGOGPVGCNNCPQTOCVKXCXKIGPVGGEQPKFQPGQ FKURQUKVKXQFKEJKWUWTCKPOQFQEJGKNEQPVGPWVQPQPRQUUC GUUGTGOQFK¿ECVQUGP\CEJGNCEQPHG\KQPGPGUKCCNVGTCVC +EQPVGPKVQTKFGXQPQKPQNVTGGUUGTGRTQXXKUVKFKWPUKUVGOC FKRTQVG\KQPGEJGPQPPGRGTOGVVCKNTKWVKNK\\QFQRQN¶GUCW TKOGPVQ FGN EQPVGPWVQ QTKIKPCNG KPFKECVQ KP GVKEJGVVC .G UCP\KQPKXCPPQFCOKNNGCOKNCGWTQ .GIIGIGPPCKQGNGIIGQVVQDTG FCCRRGUCPVKOGPVKDWTQETCVKEK'DKUQIPCKPVGTXGPKTGUWNHTQPVGFGN ETGFKVQRGTEJoPQPDCUVCNCUQURGPUKQPGFGKOWVWKOCQEEQTTQPQ FCRCTVGFGNNGDCPEJGUVTWOGPVK¿PCP\KCTKPWQXKEJGUQUVGPICPQ TGCNOGPVGNGKORTGUG#NVTKOGPVKKRTQDNGOKFKKPFGDKVCOGPVQPQP XGTTCPPQTKUQNVKOCUQNQTKOCPFCVKCPWQXCUECFGP\C´ ³$KUQIPCHCXQTKTGKNRCUUCIIKQCFWP¶QNKXKEQNVWTC³FCTGFFKVQ´±JC EQPENWUQ&QPCVQ4QUUKCXXKCPFQPWQXKKORKCPVKQNKXKEQNKUWRGTKP VGPUKXKRGTQVVGPGTGWPDTCPFEQORGVKVKXQEJGTCHHQT\KNGSWCPVKViG HCEEKCTKFWTTGKEQUVKTGUVCPFQUGORTGFKQVVKOCSWCNKVi´ <ogfM\e\kf1X[\i`jZ\ XeZ_\:fe]X^i`ZfckliX 'ZRQ8GPGVQpWPRQTVC NG EQPVGPGPVG INK GXGPVK RTQRQUVK FCN UKUVGOC RTQFWVVKXQFCGPVKGCUUQEKC\KQPKTGIKQPCNKEJGUKVGTTCPPQ FCNN¶OCIIKQCNQVVQDTGCNN¶'ZRQFK/KNCPQOGVVG KPQNVTGCFKURQUK\KQPGWPGNGPEQFKUGTXK\KCUWRRQTVQFGNNC RCTVGEKRC\KQPGRK~CFGIWCVCCNRTQIGVVQ#NNCRTGUGPVC\KQ PGFGNN¶KPK\KCVKXCEWKCFGTKUEQPQCUUQEKC\KQPKFKECVGIQ TKCHTCEWK%QPHCITKEQNVWTC8GPGVQG5KPFCECVKFGKNCXQTC VQTKGTCRTGUGPVGCPEJGKNRTGUKFGPVG.QTGP\Q0KEQNK 0 ELKI@<N:FE=8>I@:FCKLI8M<E<KF?8:?@<JKF8CC8I<>@FE<D@JLI<;@:FEK<E@D<EKFF<C@D@E8Q@FE< Gi\m\e`i\g\i i`[lii\`[Xee` (' #NN¶KPFQOCPKFGNNCEKTEQNCTGCRRNKECVKXCFGNPWQXQSWCFTQPQTOC VKXQPC\KQPCNGEJGGUENWFGFCNNCHCWPCUGNXCVKECNGPWVTKGTGPFGPFQ FK HCVVQ KPCRRNKECDKNK K RKCPK FK EQPVGPKOGPVQ FK SWGUVQ TQFKVQTG KN RTGUKFGPVGTGIKQPCNGFK%QPHCITKEQNVWTC.QTGP\Q0KEQNKEQPKNEQNNGIC FGNNC%KC(NCXKQ(WTNCPKJCGXKFGP\KCVQKNRTQDNGOCKPWPCNGVVGTCCINK CUUGUUQTKTGIKQPCNKEQORGVGPVK 2GTNGECORCIPGXGPGVGCVVTCXGTUCVGFCEQTUKF¶CESWCGECPCNKF¶KT TKIC\KQPG NC PWVTKC p FC UGORTG EQPUKFGTCVC WP CWVGPVKEQ ÀCIGNNQ CNRWPVQEJGPQPQUVCPVGNGRQNKVKEJGFKEQPVTQNNQOGUUGKPCVVQFCNNC 4GIKQPGGFCNNGXCTKGCOOKPKUVTC\KQPKRTQXKPEKCNKNGRTCVKEJGFKEQPVG PKOGPVQJCPPQUQTVKVQRQEJKGHHGVVK3WGUVQCPKOCNGEQPVKPWCCETGCTG FCPPKFKTKNKGXQCECTKEQFGNNGEQNVKXC\KQPKGFGKEQTUKF¶CESWCEQP VCPGNWPIQINKCTIKPKEJGRTQXQECPQHQPVCPC\\KEGFKOGPVKFKUEQNKPG HQUUK G RGT¿PQ DCPEJKPG UVTCFCNK ETGCPFQ RTQDNGOK EQPVKPWK EQOG DGPUCPPQCPEJGK%QPUQT\KFKDQPK¿EC)TCPRCTVGFGINKCITKEQNVQTK KPQNVTGXKUVQN¶KTTKUQTKQKPFGPPK\\QQVVGPWVQJCTKPWPEKCVQFCVGORQC RTGUGPVCTGNGKUVCP\GFKTKUCTEKOGPVQRTGUUQNG2TQXKPEG 2GTSWGUVKOQVKXKSWCPFQNCUEQTUCGUVCVGKN)QXGTPQEQPKNFGETGVQ EQORGVKVKXKViOQFK¿EyNCNGIIGUWNNCHCWPCUGNXCVKECGKNRTG NKGXQXGPCVQTKQGKPENWUGNCPWVTKCPGNNCECVGIQTKCFGKTCVVKVQRKVCNRG G CNVTG CTXKEQNG FGETGVCPFQPG N¶WEEKUKQPG EQP QIPK OG\\Q KP OQNVK RGPUCTQPQEJGKNÀCIGNNQCXTGDDGRQVWVQGUUGTG¿PCNOGPVGGNKOKPCVQ /CUKVTCVVyUQNQFKWPCDTGXGKNNWUKQPG#NNCNWEGFKVCNGPQTOCUQPQ UVCVKKPHCVVKUQURGUKKRKCPKRTQXKPEKCNKFKEQPVGPKOGPVQPWOGTKEQFGN TQFKVQTGETGCPFQFKHCVVQWPXWQVQPQTOCVKXQ .CUWEEGUUKXCEKTEQNCTGFGKOKPKUVGTKFGNNC5CNWVGGFGNNG2QNKVKEJGCITK EQNGFGNQVVQDTGJCEQPENWUQN¶KVGTNGIKUNCVKXQCXXKCVQTKDC FGPFQEJGNGPWVTKGUQPQGSWKRCTCVGCINKCPKOCNKKPHGUVCPVKGFCPPQUK GSWKPFKEQPVTQFKGUUGpRQUUKDKNGN¶WVKNK\\QFKVWVVKINKUVTWOGPVKUKPQTC KORKGICVKRGTNGURGEKGPQEKXGEQPN¶QDKGVVKXQCPEJGFGNN¶GNKOKPC\KQPG VQVCNGCPCNQICOGPVGCSWCPVQUKHCPGNNGFGTCVVK\\C\KQPK+PQNVTGp CXefidXZ_\\jZcl[\`ÈZXjkfi`e`É [XccX]XleXj\cmXk`ZXi\e[\`eXggc`ZXY`c` `g`Xe`[`Zfek\e`d\ekf GURTGUUCOGPVGRTGXKUVCNCPQPCRRNKECDKNKViFGNNCNGIIGP UWNOCNVTCVVCOGPVQFGINKCPKOCNK+P¿PGNCEQORGVGP\CKPOCVGTKCp UVCVCVTCUHGTKVCCK%QOWPK +NSWCFTQPQTOCVKXQEJGUKpEQUtHQTOCVQPQPpVWVVCXKCUWH¿EKGPVGFK RGTUoCHQTPKTGCINKCITKEQNVQTKKRWPVKFKTKHGTKOGPVQPGEGUUCTK+PRTKOQ NWQIQN¶CDDCVVKOGPVQFGNNGPWVTKGpRQUUKDKNGUQNQFWTCPVGNCUVCIKQ PGXGPCVQTKCpGXKFGPVGEJGPQPDCUVCRGTVGPGTGUQVVQEQPVTQNNQNC RTQNKHGTC\KQPGFKSWGUVCURGEKGEQPUKFGTCVQEJGCNVTKOG\\KSWCNKNG ICDDKGRGTNCECVVWTCQNGGUEJGWUCVGRGTKTCVVKUQPQFCTKVGPGTUKRGT XCTKGTCIKQPKKPCFGIWCVKQUEQPUKINKCDKNK4KOCPGKP¿PGCPEQTCCRGTVQ KNRTQDNGOCFGNNQUOCNVKOGPVQFGNNGECTECUUG %QPHCITKEQNVWTC 8GPGVQ JC RGTVCPVQ UQNNGEKVCVQ KP 4GIKQPG KN TCRKFQ KPVGTXGPVQFGINKCUUGUUQTKEQORGVGPVKCH¿PEJoCUUWOCPQNGKPK\KCVKXG EJG TKVGPIQPQ PGEGUUCTKG Q FKTGVVCOGPVG Q UQNNGEKVCPFQ CNVTK NKXGNNK KUVKVW\KQPCNKEQOGSWGNNQEQOWPCNGRGTRGTOGVVGTGWP¶GH¿ECEGC\KQPG FKEQPVGPKOGPVQGUGQEEQTTGFKGNKOKPC\KQPGFKSWGUVCURGEKGEQUt FCPPQUCRGTNCUCNXCIWCTFKCFGKECPCNKFKKTTKIC\KQPGFKUEQNQGFGK EQTUKF¶CESWCKPIGPGTGEQPKNITCXGFCPPQEJGPGRWyFGTKXCTGPQP UQNQRGTN¶CVVKXKViCITKEQNCOCRGTNCEQNNGVVKXKViVWVVC %QPNGOQFK¿EJGKPUGTKVGPGNNCNGIIGPFGNN¶HGDDTCKQ EQPN¶CTVEQOOCDKUFGN&GETGVQ.GIIGPEQPXGTVKVQ EQPNGIIGP ELKI@<NC8CFD98I;@8?8C8JL8ELFM8C<>><8EK@$ELKI@< Gfjj`Y`c\jgXiXi\g\i\iX[`ZXi\cXjg\Z`\ ³.GPWVTKGRQUUQPQGUUGTGGNKOKPCVGUWVWVVQKNVGTTKVQTKQNQO DCTFQKPENWUGNG\QPGFQXGpXKGVCVCNCECEEKCCPEJGEQPNG CTOKFCURCTQKNICUNGVTCRRQNGGNGCTOKFCNCPEKQKPFKXKFWC NG³pWPQFGKRCUUCIIKHQPFCOGPVCNKFGNNGOQFK¿EJGCNNCNGIIG TGIKQPCNGQVVQDTGPRTQRQUVGFCNNC)KWPVCGUWE EGUUKXCOGPVG CRRTQXCVG FCN %QPUKINKQ FGNNC 4GIKQPG .QODCT FKCNQUEQTUQPQXGODTG.GFKURQUK\KQPKRGTNCRTKOCXQNVC RTGXGFQPQKNEQPEGVVQFKGTCFKEC\KQPGPQPKNUGORNKEGEQPVGPK OGPVQ.GOQFCNKViRTGXKUVGEJGUCTCPPQFKUEKRNKPCVGFCKRKCPK RTQXKPEKCNKUQPQNGCTOKEQOWPKFCURCTQNGCTOKFCNCPEKQ KPFKXKFWCNG ¿QPFCCFGUGORKQNCICUUK¿EC\KQPGGNCUVGTKNK\ \C\KQPGEQPVTQNNCVGKNVTCRRQNCIIKQGUWEEGUUKXQCDDCVVKOGPVQ )NK QRGTCVQTK KPECTKECVK FGNN¶CDDCVVKOGPVQ RQVTCPPQ GUUGTG K ECEEKCVQTKGKRTQRTKGVCTKFGKHQPFKCITKEQNKKPRQUUGUUQFKRQTVQ F¶CTOKGEQPEQRGTVWTCCU UKEWTCVKXCINKCIGPVKXGPC VQTK XQNQPVCTK K RQNK\KQVVK OWPKEKRCNKGRTQXKPEKCNKINK QRGTCVQTKFGNNCXKIKNCP\CKFTCWNKECQXXKCOGPVGVWVVKRTGXKCHQT OC\KQPGFKDCUGGCUUQIIGVVCVKCNEQQTFKPCOGPVQRTGXKUVQFCK RKCPK.CPWQXCPQTOCTGIKQPCNGFKURQPGHWP\KQPKURGEK¿EJGCK XCTKGPVKNQECNK#K%QOWPKURGVVCEQQRGTCTGEQPNG2TQXKPEGG CWVQTK\\CTG CPEJGSWGUVCpWPCPQXKViKNUQVVGTTCOGPVQFGN NGECTECUUG#NNG2TQXKPEGURGVVCKNEQORKVQFKRTGFKURQTTGCR RQUKVKRKCPKFKEQPVGPKOGPVQGFGTCFKEC\KQPGQTICPK\\CPFQNC TCEEQNVCGNQUOCNVKOGPVQFGNNGECTECUUG#NNC4GIKQPGKP¿PG URGVVCRTGFKURQTTGGPVTQOCT\QWPRTQITCOOCVTKGPPCNG FKGTCFKEC\KQPG 8kk\jfg\idXiqfle gif^iXddXki`\eeXc\ 8><E;8;@>@K8C<<LIFG<8N@CG@8EFE8Q@FE8C<G<II<:LG<I8I<@C>8G@K8C@8EFßFI889ILO<CC<J 9Xe[XcXi^X6 Ef#cXi^_`jj`dX%=fij\ Cl`jXIFJ8 ³2TQOWQXGTGNCEWNVWTCFKHHWUCGNCTKEGTECFKGEEGNNGP\CCPEJGWVKNK\ \CPFQNGPWQXGVGEPQNQIKGGUWRGTCPFQKNFKXCTKQFKIKVCNG´VTCVWVVKKRWPVK VQEECVKFCNFQFKEGUKOQRTGUKFGPVGFGNNC4GRWDDNKEC+VCNKCPC5GTIKQ/CV VCTGNNCPGNUWQFKUEQTUQFKKPUGFKCOGPVQKNHGDDTCKQUEQTUQWPTCRKFQ RCUUCIIKQN¶JCCXWVQKNFKIKVCNFKXKFGNCFKUVCP\CRTQHQPFCFGNN¶+VCNKCFC CNVTK2CGUKRGTEWNVWTCGCEEGUUQCNUKUVGOCKPHQTOCVKEQ%KTECOKNKQPK FKKVCNKCPKPQPJCPPQOCKPCXKICVQKPKPVGTPGVGNCDCPFCWNVTCNCTICEQRTG UQNQKNFGNVGTTKVQTKQ1TCRGTyN¶+VCNKCJCWPRKCPQOQNVQCODK\KQUQ RQTVCTGNCDCPFCWNVTCNCTICCNN¶FGINKKVCNKCPKFCQIIKCNRGTOGV VGTG¿PCNOGPVGKNPQUVTQCNRCUUQFGINKCNVTK2CGUKKPVGTOKPKFKXGNQEKViFK EQPPGUUKQPGÊSWGUVQN¶QDKGVVKXQEJGKNIQXGTPQJCTGEGPVGOGPVGFG¿PKVQ PGN2KCPQUVTCVGIKEQRTGFKURQUVQFCNNCRTGUKFGP\CFGN%QPUKINKQKPUKGOG CN OKPKUVGTQ FGNNQ 5XKNWRRQ GEQPQOKEQ CNN¶#IGP\KC RGT N¶+VCNKC FKIKVCNG G CNN¶#IGP\KCRGTNC%QGUKQPG +NpN¶CPPQGPVTQKNSWCNGN¶7PKQPGGWTQRGCJC¿UUCVQKNVGTOKPGRGT N¶CVVWC\KQPGFGINKQDKGVVKXKFKEQRGTVWTCGRGPGVTC\KQPGFGNNCTGVGKPDCPFC NCTICGWNVTCNCTICPGNN¶CODKVQFGKRKCPKFK#IGPFC&KIKVCNG &#'&KIKVCN #IGPFCQH'WTQRGRGTUXKNWRRCTGN¶GEQPQOKCGNCEWNVWTCFKIKVCNG.CDCP FCNCTICPGNNQUXKNWRRQFGNNGTGVKKPHQTOCVKEJGKP+VCNKCpQIIGVVQFKWPC FKUEWUUKQPGEJGUKVTCUEKPCFCVGORQUGP\CCTTKXCTGCFCTGTKUWNVCVKWVKNK UKCKPCODKGPVGFQOGUVKEQEJGRTQHGUUKQPCNGRGTKEKVVCFKPKNGHCOKINKG NGKUVKVW\KQPK UEWQNGGWPKXGTUKViCFGUGORKQEQOGRWTGUCPKViGTKEGTEC VGEPQNQIKCGEEGVGTCRGTNGKORTGUGGTCNNGPVCPFQIKQTPQFQRQIKQTPQNC PQUVTCEQORGVKVKXKViKPVGTOKPKRTQFWVVKXKGFGEQPQOKEK EQPRCTVKEQNCTGKO RQTVCP\CPGNNG\QPGTWTCNKFQXGNCDCPFCNCTICpNCVKVCPVG%QOGUKNGIIG PGNNQUVGUUQ2KCPQFGNIQXGTPQ³5GEQPFQINKWNVKOKFCVKFGN&KIKVCN#IGPFC 5EQTGDQCTFN¶+VCNKCEQPVKPWCCQEEWRCTGNGWNVKOGRQUK\KQPKPGNN¶WVKNK\\QFK +PVGTPGVFCRCTVGFGNNCRQRQNC\KQPG+PGHHGVVKUQNCOGPVGKNFGNNCRQ RQNC\KQPGFKGViEQORTGUCVTCGCPPKWVKNK\\CTGIQNCTOGPVG+PVGTPGV EQPVTQWPCOGFKCGWTQRGCRCTKCN´5DKTEKCPFQKNTGRQTVCPPWCNGFGNNC 7GUWNFKIKVCNGRQUUKCOQCIIKWPIGTGEJGVTCK2CGUKEQPETGUEKVCRK~GNGXC VCEKUQPQ)TGEKC4QOCPKC+TNCPFC4GRWDDNKEC%GECG%TQC\KCPGKSWCNK ETGUEGEQORNGUUKXCOGPVGNCDCPFCNCTIC6WVVCXKCPGNNGWNVKOGUGVVKOCPG FGNNCSWGUVKQPGJCEQPQUEKWVQFWGKORQTVCPVKRCUUCIIK&CWPNCVQ KN)QXGTPQJCRWDDNKECVQWPFQEWOGPVQ 5VTCVGIKCKVCNKCPCRGTNCDCPFC WNVTCNCTICOQNVQCTVKEQNCVQCRRTQHQPFKVQGEQORNGUUQEJGHCEGPFQUG IWKVQCN4CRRQTVQ%CKQFGNHGDDTCKQRQPGNGDCUKRGTWPCRQNKVKEC EQQTFKPCVCFKUXKNWRRQFGNNGPWQXGKPHTCUVTWVVWTGFKVGNGEQOWPKEC\KQPGGKP FKXKFWCNGEKHTGFGN¿PCP\KCOGPVQRWDDNKEQEJGRQVTiEQPVTKDWKTGCSWGUVQ RTQIGVVQ&CNN¶CNVTQN¶#WVQTKViICTCPVGPGNNGEQOWPKEC\KQPK #)%1/GN¶#W VQTKViICTCPVGFGNNCEQPEQTTGP\CGFGNOGTECVQ #)%/JCPPQRWDDNKECVQK TKUWNVCVKFGNN¶KPFCIKPGEQPQUEKVKXCEQPIKWPVCUWINKUVGUUKVGOK 564#6')+#+6#.+#0#2'4.#$#0&#.#4)# 0GNFQEWOGPVQFGNIQXGTPQN¶QDKGVVKXQKPFKECVQKPNKPGCEQPSWGNNKFGNN¶#IGP FCFKIKVCNGGWTQRGCpFKFQVCTGDGPN¶FGNNCRQRQNC\KQPGKVCNKCPCFKWP CEEGUUQC/DRU DCPFCWNVTCNCTICKPKPINGUG7NVTC$TQCFDCPFGKN TKOCPGPVGFKWPCEEGUUQC/DRU DCPFCNCTICKPKPINGUG$TQCFDCPF GPVTQKN6TCNGVCPVGQR\KQPKVGEPQNQIKEJGKPITCFQFKCUUKEWTCTGSWG UVGRGTHQTOCPEGKNRKCPQHCWPCUEGNVCPGVVCRGTNCUQNW\KQPG(VVD (KDGTVQ VJG$WKNFKPIQUUKCRGTNCRQUCFGNNC¿DTCQVVKEC¿PQCKRCNC\\KFGINKWVGPVK FY`\kk`mf1Zfee\jj`fe\lckiXm\cfZ\ g\icË/,[\ccXgfgfcXq`fe\ GjiM\e\kf\Zfee\jj`fe\n\Y ³/KUWTC #EEGUUKDKNKVi CNNC DCPFC NCTIC´ KN PWQXQ 2TUTGIKQPCNGEQORTGPFGEQPVTKDWVKKPEQPVQECRKVCNGRCTK CNFGNNCURGUCCOOKUUKDKNGRGTNGCTGGTWTCNKKPFKIK VCNFKXKFG6TCINKKPXGUVKOGPVK¿PCP\KCDKNKNCTGCNK\\C\KQPG FKKPHTCUVTWVVWTGFKDCPFCNCTICXGNQEGGWNVTCNCTICUKUVGOK UQHVYCTGEQUVKFKEQPPGUUKQPGGTGNCVKXGCVVTG\\CVWTG OQ FGORCTCDQNGUCVGNNKVCTKVGEPQNQIKGYKTGNGUU %NCUUK¿ECSWKPFKSWCVVTQFKXGTUGUKVWC\KQPK ENWUVGTVGTTKVQTKCNKCUGEQPFC FGNN¶KPVGPUKViFGINKKPEGPVKXKRTKXCVKCEQUVTWKTGTGVKKP¿DTCQVVKECGKPFKXKFWC XCTKGHQTOGFKEQPVTKDWVQRWDDNKEQCIGXQNC\KQPK¿UECNKEQORCTVGEKRC\KQPG CINKKPXGUVKOGPVKGEQPVTKDWVKCHQPFQRGTFWVQFCCDDKPCTGCICTGRGTN¶CU UGIPC\KQPGFGNNCTGCNK\\C\KQPGFGNNGKPHTCUVTWVVWTG+P¿PGOGVVGKPECORQ PGKUGKCPPKFGNRKCPQOKNKCTFKEJGFGTKXCPQFCHQPFKGWTQRGKPC \KQPCNKGTGIKQPCNKRTGXGFGPFQWP¿PCP\KCOGPVQFCRCTVGFGINKQRGTCVQTK RTKXCVKEQORTGUQVTCGOKNKCTFKFKGWTQ 3WCPVQCNN¶KPFCIKPGUWNNGFKPCOKEJGFGNNCEQPEQTTGP\CPGNOGTECVQFGNNG VGNGEQOWPKEC\KQPKGUWNNGRTQURGVVKXGFKKPXGUVKOGPVQTGCNK\\CVCFC#)%1/ G#)%/CRRTQHQPFKUEGVTCN¶CNVTQKNVGOCFGNNGUVTWVVWTGFKOGTECVQEJGUK RQVTCPPQTGCNK\\CTGPGNNCDCPFCWNVTCNCTICFCSWGNNCFKWPQRGTCVQTGFK TGVGRWTQEJGNCTGCNK\\KGXGPFCN¶CEEGUUQCINKQRGTCVQTKFKUGTXK\KCSWGNNC FKWPQRGTCVQTGKPVGITCVQXGTVKECNOGPVGUKCPGNNCTGCNK\\C\KQPGFGNNCTGVG EJGPGNNCXGPFKVCFGKUGTXK\K+PVGTPGVCSWGNNCRTGHGTKVCFCNNGCWVQTKViFK WPEQPUQT\KQFGINKQRGTCVQTKFKUGTXK\KEJGTGCNK\\KNGPWQXGKPHTCUVTWVVWTG +NTCRRQTVQEQPENWUKXQpKPOQNVKRWPVKEQGTGPVGEQPN¶KORQUVC\KQPGIQXGT PCVKXC #.%70'4+(.'55+10+ .CDCPFCWNVTCNCTICpRQUVCUWNNCDCUGFKWPCRTKOCXCNWVC\KQPGFKGP VTCODKKFQEWOGPVKEQOGWPCRTKQTKViPGNNGRQNKVKEJGFGN)QXGTPQXKGPG KPFKXKFWCVQWPTWQNQFKEQQTFKPCOGPVQGFKRTQOQ\KQPGPGNOKPKUVGTQRGT NQ5XKNWRRQGEQPQOKEQXKGPGKPFKECVCWPCUGTKGFKHQPVKFK¿PCP\KCOGPVQ FKGPVKViPQPVTCUEWTCDKNGEJGRQVTGDDGEQPVTKDWKTGFCNNCVQRWDDNKEQCNNC TGCNK\\C\KQPGGHHGVVKXCFKSWGUVGQRGTGKP¿PGKNRKCPQIQXGTPCVKXQRQPG CVVGP\KQPGCNN¶CPCNKUKFKHHGTGP\KCVCKPTGNC\KQPGCNNGUKVWC\KQPKFKRCTVGP\CG CNNGECTCVVGTKUVKEJGFGNNCFQOCPFCFKUGTXK\KCDCPFCNCTICFKOQUVTCPFQ TGCNKUOQ/GPVTGXGPIQPQCRRTG\\CVKSWGUVKOGTKVKNCFKUEWUUKQPGKPRTQ RQUKVQGXKFGP\KCEJGRWPVCTGVWVVQUWNNC¿DTCQVVKECEQOGWPKECUQNW\KQPG VGEPQNQIKEC OQNVQEQUVQUCRQVTGDDGCP\KEJoTKFWTTGCEEGPVWCTGKNFKIKVCN FKXKFGEJGQIIKEKECTCVVGTK\\CTKUEJKCPFQFKRQTVCTGCWPCTGCNK\\C\KQPGFGK RTQIGVVKCNFKUQVVQFGINKQDKGVVKXKCVVGUKRTQRTKQRGTNGFKOGPUKQPK¿PCP\KCTKG TKEJKGUVGCINKKPXGUVKOGPVKRTKXCVKPQPQUVCPVGKEQPVTKDWVKRWDDNKEK 0GNHTCVVGORQKPXKCVQC$TWZGNNGUKN2KCPQUVTCVGIKEQRTQUGIWGKNUWQKVGT /DRU/GICDKVRGTUGEQPFQ (( C<>><;@JK89@C@KÁN@C9@C8E:@F;@:FE=8>I@:FCKLI8JLCC8=@E8EQ@8I@8;<C>FM<IEFI<EQ@ 8g\ikfleZXek`\i\ g\icË`dgi\jX :fe[`m`j`Y`c\cXÔcfjfÔX[`]fe[f% DXcË\j`^\eqX[`Y`cXeZ`f[\ccXdXefmiX efeXcc\^^\i`jZ\cËXjg\kkfÔjZXc\ () +NFKEGODTGUEQTUQpUVCVCCRRTQXCVCKPXKCFG¿PKVKXCNC.GIIG FKUVCDKNKVi.¶QDKGVVKXQpFKHCXQTKTGNCETGUEKVCEQPVCINKCNNC URGUCCHTQPVGFKWPCUKIPK¿ECVKXCTKFW\KQPGFGNEWPGQ¿UECNGUWN NCXQTQFKTKUQTUGOGUUGCFKURQUK\KQPGFGNRTQEGUUQFKTKHQTOCGRGT HCXQTKTGINKKPXGUVKOGPVKKPTKEGTECGKPPQXC\KQPG %QPHCITKEQNVWTCEQPFKXKFGNC¿NQUQ¿CFKHQPFQEJGKURKTCNC.GIIG OKUWTGFKTKFW\KQPGFGNNGVCUUGGKPVGTXGPVKCNNCURGUCRWDDNKECUGP \CCIITCXCTGFKWNVGTKQTKUCETK¿EKNGKORTGUG5GODTCGUUGTUKCRGTVQ ¿PCNOGPVGWP³ECPVKGTGRGTN¶KORTGUC´CPEJGUGNCOCPQXTCPQP FKOGPVKECOCKN¶CURGVVQ¿UECNGGSWKPFKN¶GUKIGP\CFKDKNCPEKQGFK IGVVKVQ/CN¶C\KQPGUXQNVCFC%QPHCITKEQNVWTCJCRQTVCVQKUWQKHTWVVK 'TC TKOCUVC GUENWUC FCN RTQXXGFKOGPVQ NC FKUEKRNKPC ¿UECNG FGNNC UVCDKNK\\C\KQPGFGNDKQICUEJGRGTyJCRQKVTQXCVQUQNW\KQPGRGTKN PGNFGETGVQNGIIG³2TQTQICVGTOKPK´ 'EEQKPUKPVGUKNGRTKPEKRCNKPQXKViKPVTQFQVVG +24188'&+/'06+52'%+(+%+2'4+.5'6614'#)4+%1.1 2TQTQICVKKVGTOKPKRGTKNXGTUCOGPVQFGNN¶+/7FCNFKEGODTG CNIGPPCKQ RQKEQPUWEEGUUKXCFKURQUK\KQPGWNVGTKQTOGPVG RTQTQICVKCNHGDDTCKQEQP&.PRGTKVGTTGPKCITKEQNK OQPVCPKRGTEWKPQPUKCRRNKECRK~N¶GUGP\KQPGCPEJGRCT\KCNGRTG XKUVCFCNNCRTGEGFGPVGFKUEKRNKPC+%+CUGIWKVQFGNNGOQFK¿EJGCR RQTVCVGFCNFGETGVQOKPKUVGTKCNGFGNCRTKNG+NXGTUCOGPVQ XKGPGGHHGVVWCVQUWNNCDCUGFGNN¶CNKSWQVCUVCPFCTF+/7FGNRGT OKNNGUCNXQEJGK%QOWPKPQPCDDKCPQCRRTQXCVQRGTVCNKVGTTGPK CITKEQNKURGEK¿EJGCNKSWQVG5QNQC¿PGIGPPCKQUQPQUVCVKTKXKUVK KETKVGTKRGTN¶GUGP\KQPGFCNN¶+/7FGKVGTTGPKOQPVCPKCDTQICPFQNC ENCUUK¿EC\KQPGUWNNCDCUGCNVKOGVTKECUVCDKNKVC 5QPQUVCVGFG¿PKVGCPVKEKRC\KQPK¿PCP\KCTKGCINKCITKEQNVQTKFCRCT VGFK+UOGCCHTQPVGFGNNCEGUUKQPGFKETGFKVKEGTVK¿ECVKKPGTGPVK VCNWPKCKWVK2CE+UOGCRWyKPQNVTGEQPEGFGTGICTCP\KGCHTQPVGFK VKVQNKFKFGDKVQGOGUUKFCNNGKORTGUG 4KCRGTVK K VGTOKPK RGT NC TKXCNWVC\KQPG FGNNG RCTVGEKRC\KQPK PQP PGIQ\KCVGKPOGTECVKTGIQNCOGPVCVKGFGKVGTTGPKGFK¿ECDKNKGEQP FGUVKPC\KQPGCITKEQNCPQPFGVGPWVKKPTGIKOGF¶KORTGUCUVCDKNKVK FCN&.P 2GTKNKEQPUWOKOGFKUVCPFCTFK\\CVKFKICUQNKQFCOGVVGTG CNN¶KORKGIQCIGXQNCVQUQPQTKFQVVKFGNFCNTKFQVVKFGN +PVGOCFKRTQEGFWTGRGTNCTKUEQUUKQPGFGNNGOWNVGFGNNGSWQVG NCVVGN¶#IGCRGTNCPQVK¿EC\KQPGFGNNGECTVGNNGFKRCICOGPVQG RGTNGCVVKXKViFKTKUEQUUKQPGEQCVVKXCUKCXXCNGFK)WCTFKCFK(K PCP\CGCPEJGFK'SWKVCNKC +NEQPVTKDWVQRGTKNRKCPQKTTKIWQPC\KQPCNGFKOKNKQPKFKGWTQ CPPWKFGEQTTGPVKFCNRGTCPPKpTKFQVVQFKOKNKQPK FKGWTQCPPWK 8KGPGFGUVKPCVCWPCSWQVC PQPURGEK¿ECVCFGNNGFKURQPKDKNKVi FGN/KRCCHRGTHCXQTKTGN¶KPVGITC\KQPGFK¿NKGTCPGNUKUVGOCCITKEQNQ GCITQCNKOGPVCTGGKNTCHHQT\COGPVQFGKFKUVTGVVKCITQCNKOGPVCTK .#8141 5K TKEQPQUEG CK FCVQTK FK NCXQTQ N¶GUQPGTQ VTKGPPCNG FCN XGTUCOGPVQ FGKEQPVTKDWVKRTGXKFGP\KCNKRGTINKCUUWPVKCVGORQKPFGVGTOKPCVQPGN .¶KPEGPVKXQURGVVCCPEJGCKFCVQTKFKNCXQTQCITKEQNQITC\KGCP EJGCNN¶C\KQPGFK%QPHCITKEQNVWTCXQNVCCUWRGTCTGN¶KPIKWUVK¿ECVCGUENW UKQPGQTKIKPCTKCOGPVGEQPVGPWVCPGNFKUGIPQFKNGIIG 8KGPGRTGXKUVCNCFGFW\KQPGKPVGITCNGFCNNCDCUGKORQPKDKNG+4#2FGN EQUVQ EQORNGUUKXQ UQUVGPWVQ RGT NCXQTQ FKRGPFGPVG C VGORQ KPFG VGTOKPCVQGEEGFGPVGN¶COOQPVCTGFGNNGFGFW\KQPK+PRTCVKECUGNC UQOOCVQTKCFGNNGFGFW\KQPKpKPHGTKQTGCNEQUVQFGNNCXQTQUQUVGPWVQ FCNN¶KORTGPFKVQTG URGVVC WP¶WNVGTKQTG FGFW\KQPG ¿PQ C EQPEQTTGP\C FGNN¶KPVGTQKORQTVQFGNN¶QPGTGUQUVGPWVQ.¶CRRNKECDKNKViFGNNCFKURQUK \KQPGpUWDQTFKPCVCCFCWVQTK\\C\KQPGFGNNC%QOOKUUKQPGGWTQRGC #KUQIIGVVKEJGPQPUKCXXCNIQPQFKNCXQTCVQTKFKRGPFGPVKURGVVCWP ETGFKVQF¶KORQUVCRCTKCNFGNN¶KORQUVCNQTFCFGVGTOKPCVCUG EQPFQNGFKURQUK\KQPKFGNEKVCVQFGETGVQ6CNGETGFKVQRQVTiGUUGTG WVKNK\\CVQGUENWUKXCOGPVGKPEQORGPUC\KQPGQTK\\QPVCNG .C NGIIG JC RTGXKUVQ NC UQRRTGUUKQPG FGINK KPEGPVKXK FGUVKPCVK CNNG CUUWP\KQPKFKFKUQEEWRCVKFKNWPIQRGTKQFQQFKNCXQTCVQTKDGPG¿EKCTK FKVTCVVCOGPVQUVTCQTFKPCTKQFKKPVGITC\KQPGUCNCTKCNGRTGXKUVKFCNNC .GIIG5CTGDDGCWURKECDKNGKPRTQRQUKVQWPEJKCTKOGP VQ FC RCTVG FGNNG COOKPKUVTC\KQPK EQORGVGPVK XQNVQ C UVCDKNKTG UG SWGUVKKORQTVCPVKKPEGPVKXKRGTN¶CUUWP\KQPGFKFKUQEEWRCVK FKOG\\C OGPVQFGKEQPVTKDWVKRTGXKFGP\KCNKRGTOGUKEJGFKXGPVCGUQPGTQ VQVCNGRGTNGC\KGPFGFGN/G\\QIKQTPQGSWGNNGCTVKIKCPGUKCPQUVCVK FG¿PKVKXCOGPVGCDTQICVKQUGpUVCVCUQNQUVCDKNKVCNCNQTQKPCRRNKEC DKNKViRGTNGCUUWP\KQPKPGN /+574'(+5%#.+ ÊRCUUCVCFCNN¶CNN¶N¶CNKSWQVC+4#2RTGXKUVCCK¿PKFGNNC FGVGTOKPC\KQPGFGNVTKDWVQFCRCTVGFGKUQIIGVVKEJGQRGTCPQPGN UGVVQTGCITKEQNQ =@J:FNC8KFID<EK8K8HL<JK@FE<;<CCË@DGFJK8)'(+M<IJ8K8@C('=<99I8@FJL@K<II<E@8>I@:FC@ @DL\dfekX^eX1elfm`Zi`k\i`XgXik`i\[Xhl\jkËXeef .¶+/7 UWK VGTTGPK CITKEQNK UKVWCVK PGNNG \QPG FK OQPVCIPC G EQNNKPC FCN FGXQPQ GUUGTG CRRNKECVK K PWQXK ETKVGTK KN NWUVTCVK PGN FGETGVQ NGIIG P FGN IGPPCKQ 5K HC QTC TKHGTKOGPVQ CNN¶GNGPEQ RTGFKURQUVQ FCNN¶+56#6 EJG FKXKFG K%QOWPKKP VQVCNOGPVGOQPVCPK 6±KVGTTGPKCITKEQNKTKOCPIQPQGUGPVK+/7 RCT\KCNOGPVGOQPVCPK 2±UQPQGUGPVKFC+/7KVGTTGPKCITKEQNK RQUUGFWVKGEQPFQVVKFCEQNVKXCVQTKFKTGVVKG+CRKUETKVVKPGNNCTGNCVKXC RTGXKFGP\CCITKEQNC PQP OQPVCPK 0/ ± K VGTTGPK CITKEQNK PQP UQPQ RK~ GUGPVK FC +/7 8eZ_\`eX^i`ZfckliX#\jfe\ifki`\eeXc\ [\`[Xkfi`[`cXmfif[X`Zfeki`Ylk` gi\m`[\eq`Xc`g\i^c`Xjjlek`Xk\dgf `e[\k\id`eXkfe\c)'(, &KURQUVQN¶KPETGOGPVQFGNNGKRQVGUKFKCRRNKEC\KQPGFGNOGEECPKUOQ FKKPXGTUKQPGEQPVCDKNG EQUKFFGVVQTGXGTUGEJCTIGC¿PK+8#ÊUVC VCKPQNVTGKPVTQFQVVCWPCRCTVKEQNCTGOQFCNKViFKXGTUCOGPVQFGNN¶KO RQUVCRGTNGQRGTC\KQPKGHHGVVWCVGPGKEQPHTQPVKFKGPVKRWDDNKEKEJG PQPTKUWNVCPQFGDKVQTKF¶KORQUVC OGEECPKUOQFK³URNKVRC[OGPV´ KPDCUGCVCNGUKUVGOCUKUVCDKNKUEGEJGCNHQTPKVQTGFGNDGPGQFGN UGTXK\KQ UKC GTQICVQ KN UQNQ KORQTVQ FGN EQTTKURGVVKXQ RCICVQ FCNNC COOKPKUVTC\KQPGRWDDNKECFGDKVTKEGCNPGVVQFGNN¶+8#KPFKECVCKPHCV VWTCN¶KORQUVCpSWKPFKXGTUCVCFKTGVVCOGPVGCNN¶'TCTKQ 8KGPG RQK UQUVKVWKVC NC PQTOC FGN &. P ³&GUVKPC\KQPG +VCNKC´ PQTOC FK HCVVQ OCK FKXGPWVC QRGTCVKXC KP OCPECP\C FGN FGETGVQCVVWCVKXQGTGECPVGNCFKUEKRNKPCFGNETGFKVQFKKORQUVCRGT KPXGUVKOGPVKKPCVVKXKViFKTKEGTECGUXKNWRRQCRRNKECDKNGCFGEQTTGTG FCNCN 8GPIQPQCNVTGUtKPVTQFQVVGFKURQUK\KQPKTGNCVKXGCNNCVCUUC\KQPGFGK HQPFKRGPUKQPGQXXGTQFGNNGHQTOGRGPUKQPKUVKEJGEQORNGOGPVCTK #WOGPVCNCVCUUC\KQPGFGNNGTGPFKVG¿PCP\KCTKGOCVWTCVGFCNNGECU UGFKRTGXKFGP\CRTKXCVG 6#5+ %QPHGTOCVK CPEJG RGT N¶CPPQ K NKOKVK OCUUKOK CN RQVGTG FGK %QOWPKFKFGNKDGTCTGNGCNKSWQVG6CUKCRRNKECDKNKRGTN¶CPPQ 2GTVCPVQ K %QOWPK RGT KN RQUUQPQ XCTKCTG N¶CNKSWQVC DCUG FGNN¶RGTOKNNGOCFGXQPQTKURGVVCTGFWGNKOKVK N¶CNKSWQVC OCUUKOC 6#5+ PQP RWy UWRGTCTG KN RGT OKNNG RGT VWVVKINKKOOQDKNK NCUQOOCFGNNGCNKSWQVGFGNNC6CUKGFGNN¶+/7PQPFGXGGUUGTGUW RGTKQTGCNN¶CNKSWQVC+/7OCUUKOCUVCDKNKVCRGTEKCUEWPCVKRQNQIKC FKKOOQDKNGFCNNCPQTOCVKXC+/7CNFKEGODTG 4+8#.76#<+10'3716'51%+'6#4+''6'44'0+ 8GPIQPQTKCRGTVKKVGTOKPKRGTNCTKXCNWVC\KQPGFGNXCNQTGFGNNGSWQVG UQEKGVCTKGGFGNEQUVQFKCESWKUVQFGKVGTTGPKCITKEQNKGFGNNGCTGG GFK¿ECDKNKCNIKWIPQÊVWVVCXKCTCFFQRRKCVCNCOKUWTC FGNN¶KORQUVCUQUVKVWVKXCEJGRCUUCFCNCNN¶ 6#55#<+10'&'+³/+0+/+´'4#88'&+/'06112'4151 7PPWQXQTGIKOGRGTNCVCUUC\KQPGFGKEQUKFFGVVK³OKPKOK´EKQp NG RKEEQNG KORTGUG EQOOGTEKCNK G K NCXQTCVQTK CWVQPQOK GPVTQ .¶GNGPEQ p EQPUWNVCDKNG CNN¶KPFKTK\\Q KPVGTPGV JVVRYYYKUVCVKV KVCTEJKXKQ +PQNVTGEQPNCTKUQNW\KQPG&( FKXWNICVCKNHGDDTCKQFCNOK PKUVGTQFGNN¶'EQPQOKCUQPQUVCVKEJKCTKVKCNEWPKFGKFWDDKKPVGT RTGVCVKXKNGICVKCNFGETGVQNGIIGCFGUGORKQRGTRQVGTDGPG¿EKC TG FGNN¶GUGP\KQPG FCNN¶+/7 UWK VGTTGPK CITKEQNK WDKECVK KP EQOWPK ENCUUK¿ECVKRCT\KCNOGPVGOQPVCPKpKPFKURGPUCDKNGEJGKNUQIIGVVQ EJGEQPEGFGKNVGTTGPQKPCH¿VVQQKPEQOQFCVQCWPEQNVKXCVQTG FKTGVVQQCWPKORTGPFKVQTGCITKEQNQRTQHGUUKQPCNGKUETKVVQPGNNC RTGXKFGP\CCITKEQNCCDDKCGINKUVGUUQNCSWCNK¿ECFKEQNVKXCVQTG FKTGVVQQFK+#2KUETKVVQPGNNCRTGXKFGP\CCITKEQNC FGVGTOKPCVKNKOKVKFKTKECXKGEQORGPUKCNEWKTGFFKVQECNEQNCVQ EQPN¶CRRNKEC\KQPGFKCRRQUKVGRGTEGPVWCNKUKCRRNKECN¶KORQUVC UQUVKVWVKXCFGN Ê TKXKUVC NC OKUWTC FGNNG UCP\KQPK TKFQVVG PGN ECUQ FK ³TCXXGFK OGPVQ QRGTQUQ´ FGN EQPVTKDWGPVG EJG RQVTi GUUGTG CRRNKECVQ CPEJG PGN ECUQ EJG UKCPQ KPK\KCVG NG XGTK¿EJG ¿UECNK G RGT WP RGTKQFQ VGORQTCNG RK~ CORKQ ¿PQ CNNC FWTCVC FGN RGTKQFQ FK CEEGTVCOGPVQ 8KGPG KPPCN\CVC FCN CN N¶CNKSWQVC +8# CRRNKECDKNG CNNG EGUUKQPKFGKRGNNGVFKNGIPQ 2'4.#%4'5%+6# 5QPQRTGXKUVKUVCP\KCOGPVKRGTNCRTQOQ\KQPGFGNOCFGKP+VCN[ GN¶CVVTC\KQPGFGINKKPXGUVKOGPVKKP+VCNKC+PVCNGEQPVGUVQXKUQPQ FKURQUK\KQPKURGEK¿EJGTGNCVKXGCNNCXCNQTK\\C\KQPGGRTQOQ\KQPG FGNNGRTQFW\KQPKCITKEQNGGCITQCNKOGPVCTKKVCNKCPG 2'4.#4+24'5#&'+%1057/+ #PEJG UG PQP UVTGVVCOGPVG EQPPGUUG CN UGVVQTG CITKEQNQ UQPQ RQUKVKXGNGOKUWTGEJGXCPPQKPFKTG\KQPGFGNNCETGUEKVCGEJGOK TCPQCFKPEGPVKXCTGKEQPUWOKSWCNKNCUVCDKNK\\C\KQPGFGNDQPWU GWTQGKNUQUVGIPQCNNGHCOKINKG EQOGKNDQPWUDGDp +PVTQFQVVCKPXKCURGTKOGPVCNGNCRQUUKDKNKViRGTKNCXQTCVQTKFK RGPFGPVKFGNUGVVQTGRTKXCVQ GUENWUKRGTyKNCXQTCVQTKFGNUGVVQTG CITKEQNQGFQOGUVKEKEJGCDDKCPQWPTCRRQTVQFKNCXQTQEQPKN OGFGUKOQFCVQTGFCCNOGPQOGUKFKEJKGFGTGNCNKSWKFC\KQPG OGPUKNGKPDWUVCRCICFGNNCSWQVCFK6(4EJGOCVWTCPGNRGTKQFQ FCNOCT\QCNIKWIPQ 52'0&+0)4'8+'9 $WQPCRCTVGFGNNGTKUQTUGRGTCTTKXCTGCNNCEQRGTVWTCFGNNCOC PQXTC FGTKXCPQ FCNNC ³URGPFKPI TGXKGY´ KP RCTVKEQNCTG FCNNC TK FW\KQPG FGNNG URGUG FGNN¶CRRCTCVQ RWDDNKEQ OKPKUVGTK TGIKQPK EQOWPK 2GTSWCPVQEQPEGTPGINKGPVKNQECNKTKUWNVCWPCFKOKPW\KQPGFGKVTC UHGTKOGPVKCNNG4GIKQPKCUVCVWVQQTFKPCTKQGURGEKCNGFKOKNKCTFK FKGWTQ CVVWCNKRK~CNVTKFGTKXCPVKFCVCINKFGNRCUUCVQ 2#6410#6+ 4KFQVVKINKUVCP\KCOGPVKCKRCVTQPCVKFKOKNKQPKFKGWTQÊUVCVC RQTVCVC CNN¶ NC UQINKC OKPKOC FK CVVKXKVi TKNGXCPVG EJG EKC UEWP RCVTQPCVQ FGXG TGCNK\\CTG RGPC NQ UEKQINKOGPVQ UG GUUC PQPXKGPGTCIIKWPVCRGTFWGCPPKEQPUGEWVKXK .GIIGRWDDNKECVCUWNNC)C\\GVVC7H¿EKCNGPFGN FKEGODTG (* :FEM<>EF8JJFD8@JN8;L<D<J@;8CC<J<D@E<#8>I@:FCKFI@<K<:E@:@?8EEF8==FCC8KF@C:<EJ<I DX`j1dXek\e\icfjkiXk\^`Zf ZfecË`eefmXq`fe\ (+ ³+NOCKUpWPCOCVGTKCRTKOCGUUGP\KCNGRGTN¶GEQPQOKCFGNN¶CITQKP FWUVTKCKVCNKCPCGTKOCPGWPCTKUQTUCKORQTVCPVKUUKOCRGTNCRTQXKPEKC FK4QXKIQEQUtEQOGRGTVWVVCNC2KCPWTC2CFCPC´EQUt.QTGP\Q0KEQ NKRTGUKFGPVGFK%QPHCITKEQNVWVC8GPGVQG4QXKIQJCRQUVQN¶CEEGPVQ UWNN¶KORQTVCP\CFKSWGUVQEGTGCNGRGTN¶CITKEQNVWTCGN¶CITQCNKOGPVCTG PC\KQPCNGKPCRGTVWTCFGKNCXQTKFGNEQPXGIPQQTICPK\\CVQFC#UUQ OCKUEQPNCEQNNCDQTC\KQPGCPEJGFK#ITKPUKGOG 0WOGTQUQKNRWDDNKEQ QNVTGVTCCITKEQNVQTKVGEPKEKGCFFGVVKCN UGVVQTGRTQXGPKGPVKFCRK~RTQXKPEGXGPGVGEJGJCTKGORKVQNGUCNG FGN%GPUGTKNEGPVTQEQPXGIPKFGNECRQNWQIQRQNGUCPQKNIGPPCKQ UEQTUQCEQPHGTOCFGNN¶KORQTVCP\CEJGSWGUVQEGTGCNGCUUWOGRGT N¶GEQPQOKCFGNRTKOCTKQ IfY\ikf:Xlj`e\ClZXIfjj\kkf 8ljg`ZXkfcfjm`clggf [\ccXi`Z\iZX^\e\k`ZX% :fej`^c`XkXleËXkk\ekXk\Ze`ZXZfckliXc\% <cXjZ\ckX[\^c``Yi`[``e]leq`fe\[\cc\ gfk\eq`Xc`k~Xq`\e[Xc`#`ii`^Xq`fe\`egi`d`j +N RTKOQ KPVGTXGPVQ VGEPKEQ C EWTC FGN RTQH 6QOOCUQ /CIIKQ TG FGNN¶7PKXGTUKVi FK /KNCPQ JC GXKFGP\KCVQ N¶KORQTVCP\C FGN OCKU PGNN¶GEQPQOKCPC\KQPCNG³+NOCKUpCNNCDCUGFGNNGRK~TKEQTFCVGGEEGN NGP\GCNKOGPVCTKKVCNKCPGKFWGHQTOCIIKITCPCGKFWGRTQUEKWVVKQNVTG EJGQXXKCOGPVGRGTVWVVKINKCNVTKRTQFQVVKFGTKXCVKFCINKCNNGXCOGPVK /KRCTGPGEGUUCTKQTKEQTFCTGJCCIIKWPVQ/CIIKQTGEJGPGNHWVWTQ DKUQIPGTiCWOGPVCTGNGTGUGWPKVCTKGGTKFWTTGKEQUVKFKRTQFW\KQPG+N VWVVQPGNTKURGVVQFGNN¶CODKGPVG´#NVTGUtKPFKURGPUCDKNGpKPPQXCTGPGN RTQFQVVQGPGNRTQEGUUQ³4GNCVKXCOGPVGCNRTQFQVVQpEQPXGTQFQNQTG EJGCUUKUVQCWP¶KPWVKNGGCUEKGPVK¿ECFKUEWUUKQPGUWINK1)/GEKQpC PQPXQNGTGWPCTGCNGKPPQXC\KQPG3WCPVQCTKFWTTGKEQUVKPGNTKURGVVQ FGNN¶CODKGPVGPQPUKXGFGEQOGUKRQUUCEQPUGIWKTGUGP\CWPCEQO RNGVCTKQTICPK\\C\KQPGFGNNCRTQFW\KQPGTKEQTFCPFQEJGKNHWVWTQUCTi UGORTGFKRK~RGTWPCIGUVKQPGVGTTKVQTKCNGEQPWPOCIIKQTGKORKGIQ GKORGIPQFKGURGTVKCITQPQOKEQPUWNGPVK´ +./'4%#61 ³+OGTECVKFGNOCKUGFGNNCUQKCUQPQHQTVGOGPVGNKDGTCNK\\CVKGNGSWQ VC\KQPKKORQUVGCINKCITKEQNVQTKKVCNKCPKHTCPEGUKVGFGUEJKQURCIPQNK UGIWQPQ N¶CPFCOGPVQ FGNNG EQPVTCVVC\KQPK UWK OGTECVK KPVGTPC\KQPCNK´ .WEC4QUUGVVQGEQPQOKUVCCITCTKQFGNN¶7PKXGTUKViFK2CFQXCUKpUQHHGT OCVQUWPWOGTKGETKVKEKViFKOGTECVQFGNEQORCTVQ)NKCPFCOGPVKFGN NGSWQVC\KQPKUQPQHQTVGOGPVGEQPFK\KQPCVKFCNN¶CNGCVQTKGViFGNN¶QHHGTVC EQPEGPVTCVCKPRQEJKITCPFKRCGUKRTQFWVVQTKGFGURQTVCVQTKEQOG5VCVK 7PKVK$TCUKNG#TIGPVKPC7PKQPG'WTQRGC%KPCGFCNNCFQOCPFCURGU UQHTCOOGPVCVCVTCOQNVKRCGUKKORQTVCVQTKSWCNKKN)KCRRQPG/GUUKEQ %QTGC %KPC 7PKQPG GWTQRGC PQTF#HTKEC /GFKQ1TKGPVG GEEGVGTC +N SWCFTQRTQFWVVKXQFGNOCKUpKPQNVTGRKWVVQUVQCTVKEQNCVQGUKECTCVVGTK\\C RGTWPHQTVGFWCNKUOQVTCWPCOKTKCFGFKC\KGPFGFKRKEEQNGFKOGPUKQPK EJGIGUVKUEQPQWPCSWQVCOQFGUVCFGNNCUWRGT¿EKGGRQEJGOGFKGG ITCPFKC\KGPFGEJGCUUQTDQPQNCOCIIKQTRCTVGFGINKGVVCTKKPXGUVKVKC OCKU³.GRKEEQNGC\KGPFGCOCKU±JCURGEK¿ECVQ4QUUGVVQUQPQGUC TCPPQOGPQRTGUUCVGFCINKQDDNKIJKFGNNC2#%EQOGKNITGGPKPIOQNVG FKSWGUVGUQPQIGUVKVGKPRCTVVKOGQFCEQPVQVGT\KUVKGSWKPFKNGUEGNVG UWNN¶QTFKPCOGPVQEQNVWTCNGRTGOKCPQNCUQNW\KQPGRK~UGORNKEGCPEJGUG GEQPQOKECOGPVGOGPQXCPVCIIKQUC2GTEQPVTQNGC\KGPFGRK~ITCPFK GIGUVKVGCVGORQRKGPQFGXQPQEGTECTGFKTCIIKWPIGTGWPCUQUVGPKDKNKVi GEQPQOKECGSWKPFKFQXTCPPQCFGIWCTUKCPEJGCNNGPWQXGFKURQUK\KQPK KPOCVGTKCFK2#%GRQTTGWPCOCIIKQTGCVVGP\KQPGUKCCINKCURGVVKGEQ PQOKEKUKCCSWGNNKCITQPQOKEK´ .'#)416'%0+%*' /CTEQ$GTVQNKPKIGPGVKUVC³DTGGFGT´FK+UVC#ITQCNKOGPVCTG5WFJC KNNWUVTCVQKN3WCFGTPQFKTKEGTECFGNNC4GIKQPG.QODCTFKC³/CNCVVKG GFCNVGTC\KQPKFGNOCKU´EJGpUVCVQFKUVTKDWKVQCKRCTVGEKRCPVK³6TCK SWCNK±JCFGVVQ±PQVQEQPRKCEGTGNCRTGUGP\CFKOQNVKIKQXCPK´ #OGFGQ4G[PGTKFGNN¶7PKXGTUKViFK6QTKPQJCRTGUQNCRCTQNCFQRQNC RCWUCFGFKECVCCNNCXKUKVCFGINKUVCPFGURQUKVKXKGCNDWHHGVEQPVCPVK RTQFQVVKVWVVKCDCUGFKOCKUEQORTGUCQXXKCOGPVGNCRQNGPVCEQVVC CNOQOGPVQ ³&CN RWPVQ FK XKUVC CITQPQOKEQ RGT XCNQTK\\CTG KN OCKU UK RWy HCTG OQNVQ´JCGUQTFKVQ4G[PGTK³#NVQKPXGUVKOGPVQFKHGUCFGNNCRNCPVWNC RQVGP\KCOGPVQFGNN¶GCTN[XKIQTFKHGUCHWPIKEKFCFGNNCHQINKCFKHGUCFC ¿VQHCIKGCPEJGN¶KTTKIC\KQPGNQECNK\\CVC'UGEQPN¶CXXGPVQFGNITGG PKPINCRCTQNCF¶QTFKPGp³FKXGTUK¿EC\KQPG´TKEQTFKCOQEK±JCTKOCT ECVQEJGSWGUVCPQPpUKPQPKOQFKCXXKEGPFCOGPVQRGTEJoFKXGTUK ¿ECTGUGP\CCXXKEGPFCTGPQPQHHTGCNEWPUKIPK¿ECVKXQXCPVCIIKQ´ /CKNOCKUpCPEQTCWPCEQNVWTCUVTCVGIKECRGTN¶+VCNKC!5tOC³5QNQ UGNCSWCNKViUCPKVCTKCpCFGIWCVCCNNGTKEJKGUVGFGNNG¿NKGTGUGKNSWC FTQPQTOCVKXQPQPpVTQRRQRGPCNK\\CPVGUGINKQRGTCVQTKFGNNG¿NKGTC HCPPQUKUVGOCGUGCDDKCOQNCECRCEKViFKKPPQXCTGRGTTKURQPFGTG CNNG¿NKGTG´ .'/+%16155+0' 4QDGTVQ%CWUKP¿VQRCVQNQIQFGNN¶7PKXGTUKViFK2CFQXCJCKP¿PGHCVVQ KNRWPVQUWNNCSWGUVKQPGOKEQVQUUKPGUQVVQNKPGCPFQEJGNCITCPGNNC FKOCKURTQFQVVCKP2KCPWTC2CFCPCpTGIQNCTOGPVGEQPVCOKPCVCFC HWOQPKUKPGKPSWCPVKViXCTKCDKNGCUGEQPFCFGNN¶CPFCOGPVQENKOCVK EQUVCIKQPCNG#SWGUVCVQUUKPCPGNNGCPPCVGRCTVKEQNCTOGPVGECNFG G UKEEKVQUG EQOG PGN UK CIIKWPIQPQ NG CÀCVQUUKPG OGPVTG PGNNGCPPCVGOQNVQHTGUEJGGRKQXQUG EQOGKNKVTKEQVGEGPKG NQ \GCTCNGPQPG ³1TOCK p EJKCTQ EJG PGNNC EQNVKXC\KQPG FGN OCKU NC RQUUKDKNGRTGUGP\CFKOKEQVQUUKPGPQPFGXGGUUGTGRK~CHHTQPVCVCEQP WPCNQIKECFKGOGTIGP\COCXCEQPUKFGTCVCEQOGWPHCVVQTGNCEWK IGUVKQPG FGXG GUUGTG EQORTGUC PGK PQTOCNK RTQVQEQNNK FK RTQFW\KQ PGFKSWGUVQEGTGCNG´.CIGUVKQPGFGNNCRTQDNGOCVKECOKEQVQUUKPG RGTVCPVQ TKEJKGFG WP CRRTQEEKQ KPVGITCVQ EJG EQPUKFGTC PQP WPQ OCWPCUGTKGFKKPVGTXGPVK³#RCTVKTGFCNNCUEGNVCFGNN¶KDTKFQHCVVCPQP UQNQKPTGNC\KQPGCINKCURGVVKRTQFWVVKXKKPVGTOKPKFKTGUGSWCPVKVCVKXG OCEQPUKFGTCPFQCPEJGNGECTCVVGTKUVKEJGEQPPGUUGEQPNCFKXGTUC RTQRGPUKQPGCNN¶CEEWOWNQFKOKEQVQUUKPG´%CWUKPJCEQPENWUQTKDC FGPFQ EJG RGT RTGXGPKTG INK UVTGUU FGNNG RKCPVG RQVTGDDG TKUWNVCTG EQPXGPKGPVGRWPVCTGUWWPKDTKFQEJGOGINKQUKCFCVVCCNNGRQVGP\KC NKViRTQFWVVKXG VGTTGPQENKOCOG\\KC\KGPFCNKFKEKCUEWPCC\KGPFC CITKEQNC FKURQPKDKNKViFKKTTKIC\KQPGRGTRTKOCUHTWVVCPFQNGCNOGINKQ RGTEQPUGIWKTPGDGPGUUGTGGECRCEKViRTQFWVVKXGFGTKXCPVK KXmfcXifkfe[Xjli`Z\iZX#d\iZXk`\Ôc`\i\ &QRQINKKPVGTXGPVKVGEPKEKCNEQPXGIPQFK#UUQOCKUUKpVGPWVC WPCVCXQNCTQVQPFCCNNCSWCNGJCPPQRCTVGEKRCVQ%CTNQVVC$CNEQPK %4#FK$GTICOQ.QTGP\Q(WTNCP 8GPGVQ#ITKEQNVWTC)KWUGRRG %CTNK #UUQUGOGPVK/CTEQ#WTGNKQ2CUVK #/+)KWNKQ7UCK #U UCN\QQ5KNXCPQ4COCFQTK 7PKOC)KCPHTCPEQ2K\\QNCVQ #KTGU G5KNXKQ2GNNCVK 2GNNCVKKPHQTOC 6TCKVCPVKKVGOKGOGTUKNCFKUEWUUKQPGJCFCVQURC\KQCNNCVTKDQ NCVCSWGUVKQPGFGNNCTKEGTECKP+VCNKCEQPN¶KORGNNGPVGPGEGUUKViFK KPPQXC\KQPGTGENCOCVCFCKRTQFWVVQTKRGTTKCESWKUVCTGEQORGVKVKXK ViCVVTCXGTUQN¶CWOGPVQFGNNGTGUGOGFKGHGTOGUWXCNQTKKPHGTKQTK CNNGOGFKGRTQFWVVKXGFKCNVTK2CGUK2WPVQFGDQNGFGNNCTKEGTECKP +VCNKCpUKEWTCOGPVGNCOCPECP\CFKHQPFKRGTINKGPVKRTGRQUVKQN VTGCNN¶KORQUUKDKNKViFKRQVGTHCTGURGTKOGPVC\KQPGUWINK1)/OC WP¶QVVKOC QRRQTVWPKVi UCTGDDG SWGNNC FK RQVGT FCTG KPFKEC\KQPK EQPETGVGCINKCITKEQNVQTKEKTECNCVQNNGTCP\CFGINKKDTKFKEQOOGTEKC NKCNNGRK~FKHHWUGOCNCVVKGHWPIKPG .CFKUEWUUKQPGJCEQKPXQNVQCPEJGKNXGTUCPVGOGTECVQEQPDWQ PGRTQDCDKNKViKNOCKUPQPFQXTGDDGUWDKTGWNVGTKQTKECNKFKRTG\\Q PGKRTQUUKOKCPPKCP\KFQXTGDDGTKIWCFCIPCTGSWCNEJGRQUK\KQPG GUGpXGTQEJGQIIKNCOCTIKPCNKViFGNNCUQKCpNGIIGTOGPVGRK~ GNGXCVC p CNVTGVVCPVQ XGTQ EJG SWGUVC FKRGPFG OQNVQ UKC FCNNG SWQVC\KQPKGUVTGOCOGPVGXQNCVKNKCPEJGRGTNCRTQVGQNGCIKPQUC GFCNNGTGUG +P¿PGUWNTCRRQTVQKP¿NKGTCRTQFWVVQTKWVKNK\\CVQTK³8CPPQUWRG TCVGNGXGEEJKGNQIKEJGJCUQVVQNKPGCVQ)KCPHTCPEQ2K\\QNCVQRGT FKUEWVGTGEQUVTWVVKXCOGPVGEJKRTQFWEGFGXGTGPFGTGRK~ÀWKFC N¶QHHGTVCFGNNCITCPGNNCPGNVGORQGXKVCPFQFKVGPGTUKKPOCIC\ \KPQKNRTQFQVVQURGTCPFQURGUUQKPXCPQEJGKRTG\\KETGUECPQ OCpPGEGUUCTKQEJGN¶KPFWUVTKCOCPIKOKUVKECRTGOKKNRTQFQVVQ PC\KQPCNGKPFKUEWVKDKNOGPVGFKSWCNKViUWRGTKQTGCSWGNNQFKKO RQTVC\KQPG´ (, @e]fidXq`fe\gifdfq`feXc\ LA DIABROTICA DEL MAIS: GENERALITÀ La Diabrotica v. virgifera è riconosciuta la specie più pericolosa tra gli insetti terricoli del mais per gli ingenti danni che può determinare, principalmente causati dalle larve sulle radici. Le larve si muovono nel terreno e raggiungono l’apparato radicale delle piante di mais iniziando ad alimentarsi e penetrare nelle radici determinando l’accorciamento o la loro sparizione e la formazione di fori e gallerie nelle radici rimaste. Le piante danneggiate presentano un indebolimento dell’apparato radicale con allettamenti precoci e successivo tentativo di riportarsi in posizione verticale assumendo la caratteristica forma a gomito detta a «collo d’oca» Come controllare la diabrotica? L’avvicendamento risulta tra i metodi di controllo esistenti quello di maggiore efficacia. L’impiego di altre colture in rotazione garantisce la pressoché totale scomparsa dell’insetto. Le aziende che nello stesso anno necessitano di coltivare mais da trinciato e rispettare la priorità di bonifica dei loro terreni dalla diabrotica dispongono di una grande e nuova opportunità di realizzarla con la semina di varietà KWS del «Team Ronaldinio». Vengono proposti due programmi che rendono possibile produrre trinciato di mais con l’impiego di ibridi precocissimi di classe FAO 150-200. (- 2. Non occorre effettuare il trattamento contro la piralide. 3. Controllo diabrotica: nessuna ovideposizione nell’appezzamento in cui si semina il Sorgo dopo la coltivazione del mais. 4. Primo trinciato di mais di alta qualità disponibile nel nuovo anno con 40-50 giorni di anticipo rispetto agli ibridi tardivi. 5. L’opportunità di coltivare varietà di Mais KWS super precoci (FAO 150) garantisce un ulteriore anticipo nella raccolta e di conseguenza anticipare la semina del Sorgo 6. Si libera il terreno dal sorgo ad inizio-metà ottobre, in tempo utile per seminare un cereale autunno-vernino come triticale, frumento, orzo. PROGRAMMA 2 PROGRAMMA 1 Da applicare nei terreni con alta infestazione di diabrotica che devono essere assolutamente bonificati. In questo caso la «bonifica dalla diabrotica» avviene tramite la coltivazione del cereale autunno-vernino (triticale, frumento, orzo) in quanto la semina del mais nella terza decade di giugno avverrà dopo lo schiudersi delle uova e il conseguente decesso delle larve causato dall’assenza delle radici del mais come nutrimento disponibile. Il mais seminato in successione crescerà senza rischi di allettamento. Da applicare nei terreni con medio/bassa infestazione di diabrotica dove sia ancora possibile coltivare mais, ma necessitano di una bonifica prima di poter seminare la stessa coltura l’anno successivo. In questo caso la «bonifica dalla diabrotica» avverrà durante la coltura del sorgo in quanto la presenza significativa del volo degli adulti maschi e femmine della diabrotica inizia nel momento in cui gli ibridi del Team Ronaldinio sono già stati trinciati, costringendo gli insetti a migrare verso altri campi di mais per alimentarsi evitando in tal modo le ovideposizioni nel terreno coltivato in seconda semina a sorgo. VANTAGGI PROGRAMMA 1 La rotazione annuale «Team Ronaldinio + Sorgo» permette di raggiungere importanti traguardi produttivi e agronomici: 1. Irrigazioni limitate: le piogge primaverili di norma sono sufficienti. Possono rendersi necessari un paio di interventi tra fine maggio e fine giugno. VANTAGGI PROGRAMMA 2 La rotazione annuale «cereale + mais» permette l’ottenimento di importanti traguardi produttivi e agronomici: 1. Permette irrigazioni contenute rispetto all’utilizzo di ibridi più tardivi che costringerebbero a raccolte molto più tardive. 2. Rappresenta la successione ideale dopo un cereale autunnovernino coltivato per trinciato o granella 3. Consente di anticipare la raccolta rispetto ad ibridi tardivi in terza epoca di semina: in questo modo si riesce a seminare un cerale a paglia (triticale). 4. Si dispone di un trinciato di mais di alta qualità ottenuto in un’epoca di semina tradizionalmente a rischio per quanto riguarda l’aspetto qualitativo. 5. Il trattamento tempestivo con insetticidi garantirà inoltre un completo controllo degli adulti di diabrotica ed un efficace controllo della 2^-3^ generazione della piralide. 6. Saranno necessari alcuni anni prima che la popolazione della diabrotica torni a raggiungere livelli preoccupanti. J@E;8:8KFG<EJ@FE8K@M<E<KFN@CGIF>I8DD8;@C8MFIF@CCLJKI8KF;8CGI<J@;<EK<I<>@FE8C< G\ej`fe`#jXe`k~\j\im`q` Xd`jliX[`k\iqX\k~ 7PC UGTKG FK C\KQPK EQQTFKPCVG KP UKPGT IKC EQP KN %72.# RGT FCTG EQPETGVG\\C C VWVVK INK QDKGVVKXK FGN RTQITCOOC KN %QPUKINKQ FGN 5KPFCECVQ RGPUKQPCVK XGPGVQ FK %QPHCITKEQNVWTC JC CEEQNVQ N¶KPXKVQ FGN RTGUKFGPVG .QTGP\Q /CUUKIPCP FK CXXCNGTUK FGN %QQTFKPCOGPVQ WPKVCTKQ FGK RGPUKQPCVK FGNNCXQTQCWVQPQOQ FKEWKKN5KPFCECVQHC RCTVGKPSWCPVQTCRRTGUGPVCNQUVTWOGPVQ RK~GH¿ECEGRGTTKEJKCOCTGN¶CVVGP\KQPGFGN OQPFQRQNKVKEQGFGNNGKUVKVW\KQPKUWNNGEQPFK\KQPKFKITCPFGFKH¿ EQNViPGNNGSWCNKXKXQPQQIIKINKCP\KCPKKP+VCNKC ³.CXKVCFGNN¶CP\KCPQPGNPQUVTQ2CGUGJCFGVVQCNNCTKWPKQPGFGN %QPUKINKQ KN C /GUVTG ± p TGUC RK~ FKH¿EKNG FCNN¶KPUGPUKDKNKVi FK WPUKUVGOCRQNKVKEQDWTQETCVKEQEJGpRK~RTGQEEWRCVQFKCWVQC NKOGPVCTUKEJGFKTKUQNXGTGKRTQDNGOK´/CUUKIPCPJCHQECNK\\CVQ NGVTGVGOCVKEJGUWNNGSWCNKEQPEGPVTCTGKNNCXQTQFWTCPVGKN KPPCP\KVWVVQNGRGPUKQPKNCEWKGPVKViRGTINKCITKEQNVQTKp³KTTKUQTKC CHTQPVGFKEGTVKVTCVVCOGPVKFQTCVKFKEWKUKNGIIGUWKIKQTPCNK´NC UCPKVi³KEWKVCINK¿PKTCPPQRGTRGPCNK\\CTGUQRTCVVWVVQINKCP\KCPK´ JCTKOCTECVQTKXQNVQCKTCRRTGUGPVCPVKFGNUKPFCECVQRTQXGPKGPVK FCNNGUGVVGRTQXKPEGXGPGVGGKUGTXK\KKPIGPGTCNG³FCNN¶CUUKUVGP\C C\ki\Z_`Xm`g\id`^c`fiXi\cXm`kX [\ccËXeq`Xefj\Zfe[fCfi\eqfDXjj`^eXe CK VTCURQTVK´ .C UCPKVi KP RCTVKEQNCTG p KPUQFFKUHCEGPVG RGTEJo PQPXKGPGKPEQPVTQCNNGPGEGUUKViFGKRC\KGPVKFGNNCVGT\CGVi6TCK OQNVKFKUUGTXK\KNCSWGUVKQPGFGNNGNKUVGF¶CVVGUCUGORTGRK~NWP IJGPGNNGUVTWVVWTGRWDDNKEJGEQUVTKPIQPQCTKXQNIGTUKCSWGNNGRTK XCVGUQUVGPGPFQPGKTGNCVKXKCNVKEQUVKRGTCXGTGWPCRRWPVCOGPVQ KPVGORKDTGXK+PSWGUVQEQPVGUVQKNRTGUKFGPVGJCKPUKUVKVQUWNNC PGEGUUKViFKRQTTGTKOGFKQCNN¶KPUWH¿EKGPVGXCNQTK\\C\KQPGFGNTWQNQ FGNOGFKEQFKDCUGEJG±FCVQKNEQPVGUVQRQVTGDDGTCRRTGUGP VCTGWPCPGNNQFKGUVTGOCKORQTVCP\C ³0oXCVTCUEWTCVCJCEQPENWUQ/CUUKIPCPNCETGUEKVCRTGQEEW RCPVGFGNNCOKETQFGNKPSWGP\CCNNCSWCNGKNRK~GURQUVQpRTQRTKQ N¶CP\KCPQEQOGEQPHGTOCPQCPEJGNGUVCVKUVKEJG%KXQINKQPQRK~ FKXKUGKPIKTQGPQPUQNQRGTTGIQNCTGKNVTCH¿EQ´ +N%72.#%QQTFKPCOGPVQWPKVCTKQFGKRGPUKQPCVKFGNNCXQTQCW VQPQOQpEQORQUVQFCQVVQCUUQEKC\KQPKFKECVGIQTKCKPTCRRTG UGPVCP\C FGK UGVVQTK FGNN¶CITKEQNVWTC FGNN¶CTVKIKCPCVQ G FGN EQO OGTEKQ <E<I>@<I@EEFM89@C@NI@K@IF;<;@:8KF)'(,=@EF8(DN%@CI@:FIJF8CK8I;@:FE=8>I@:FCKLI8 8^^`fieXk``gi\qq`d`e`d`^XiXek`k` .¶#WVQTKVi RGT N¶GPGTIKC #'')5+ JC TGUQ PQVK K RTG\\K OKPKOK ICTCPVKVKRGTN¶CPPQRGTINKKORKCPVKCNKOGPVCVKCHQPVKTKPPQ XCDKNKFKRQVGP\CGNGVVTKEC¿PQC/9 +PRTGEGFGP\CN¶#WVQTKViCXGXCFG¿PKVQPQPUQNQNCPWQXCUVTWV VWTCGKPWQXKXCNQTKFGKRTG\\KOKPKOKICTCPVKVKKPXKIQTGFCN IGPPCKQOCCPEJGKETKVGTKRGTN¶CIIKQTPCOGPVQFGKRTG\\K OKPKOKICTCPVKVKTGNCVKXKCINKCPPKUWEEGUUKXKCN5WNNCDCUG FGK FCVK +UVCV NC XCTKC\KQPG FGNN¶CPPQ TKURGVVQ CNN¶CPPQ pTKUWNVCVCRCTKCGRGTVCPVQKRTG\\KOKPKOKICTCP VKVKXKIGPVKTKUWNVCPQKPETGOGPVCVKFKVCNGXCNQTGRGTEGPVWCNGRGTKN 8CKPQNVTGTKEQTFCVQEJGCRCTVKTGFCNIGPPCKQKN ³TKVKTQFGFKECVQ´pUVCVQRTQHQPFCOGPVGOQFK¿ECVQEQPN¶KPVGP VQFKEJKCTCVQFKTKFWTTGN¶KORCVVQFGNNCEQORQPGPVGVCTKHHCTKC# UWNNGDQNNGVVG%QPHCITKEQNVWTCCUGIWKVQFKVCNGOQFK¿EJGJC RTGUGPVCVQTKEQTUQCN6#4FGNNC.QODCTFKC N¶WFKGP\CFKOGTKVQp ¿UUCVCRGTKNOCIIKQ 5WEEGUUKXCOGPVG KPQNVTG N¶#WVQTKVi RGT N¶GPGTIKC JC TKFG¿PKVQ UGORTGEQPGHHGVVQCRCTVKTGFCNIGPPCKQN¶CODKVQ FKCRRNKEC\KQPGFGKRTG\\KOKPKOKICTCPVKVKRTGEKUCPFQEJGEQUC UKKPVGPFGRGT³RQVGP\CPQOKPCNG´PGNECUQFKKORKCPVKHQVQXQNVCK EKG³RQVGP\CGNGVVTKEC´PGNECUQFKKORKCPVKKFTQGNGVVTKEK &CNNC NGVVWTC EQODKPCVC FGNNG FKXGTUG FKURQUK\KQPK PQTOCVKXG TK UWNVCEJG UKCRRNKECPQKRTG\\KOKPKOKICTCPVKVKUVCDKNKVKFCNN¶#WVQTKViCINK KORKCPVK HQVQXQNVCKEK FK RQVGP\C PQOKPCNG ¿PQ C M9 G C SWGNNK KFTQGNGVVTKEK FK RQVGP\C GNGVVTKEC ¿PQ C M9 SWCNQ TCIQFCPQIKiFKKPEGPVKXKPQPEJoCINKKORKCPVKKFTQGNGVVTKEKFK RQVGP\C PQOKPCNG OGFKC CPPWC ¿PQ C /9 G CINK KORKCPVK CNKOGPVCVKFCNNGCNVTGHQPVKTKPPQXCDKNKFKRQVGP\CCVVKXCPQOKPC NG¿PQC/9CEQPFK\KQPGEJGPQPIQFCPQFKKPEGPVKXKUWNNC RTQFW\KQPGGNGVVTKEC UKCRRNKECPQKRTG\\K\QPCNKQTCTKRGTVWVVGNGVKRQNQIKGFKKORKCPVK CHQPVKTKPPQXCDKNKKPTGIKOGFKTKVKTQFGFKECVQGPQPEQORTGUG PGNRWPVQRTGEGFGPVGGEKQpKORKCPVKCHQPVKTKPPQXCDKNKKPEGP VKXCVK¿PQC/9KORKCPVKCHQPVKTKPPQXCDKNKKPEGPVKXCVKGPQP FKRQVGP\CUWRGTKQTGC/9 +P¿PGUGCNVGTOKPGFKEKCUEWPCPPQUQNCTGKNRTQFQVVQVTCKRTG\\K OKPKOKICTCPVKVKGNCSWCPVKViFKGPGTIKCGNGVVTKECCFGUUKTKHGTKVC pKPHGTKQTGCNRTQFQVVQVTCKRTG\\K\QPCNKQTCTKGNCUVGUUCSWCPVKVi FKGPGTIKCGNGVVTKECKN)5'TKEQPQUEGCEQPIWCINKQKRTG\\K\QPCNK QTCTK &GNKDGTC4GHT &GNKDGTCFGNN¶#WVQTKViRGTN¶GPGTIKCP4'(4FGN FKEGODTGG&NP³&GUVKPC\KQPG+VCNKC´EQPXGTVK VQKP.GIIGHGDDTCKQP &GNKDGTCP4'(4FGNCRTKNG (. =LIK@@E8Q@<E;8NI<:IL;<J:<EQ8;<CC8JFKKI8Q@FE<;@9<JK@8D<%D88E:?<;@D<QQ@8>I@:FC@ (/ =fkf1Cl`jXIfjX @ci`kfief [\ccËXY`^\Xkf`eM\e\kf Cl`jXIFJ8 +N XKEGRTGUKFGPVG FGK IKQXCPK FK %QPHCITKEQNVWTC 4QXKIQ #PFTGC /G\\CPCVQ VKVQNCTG FK WP¶C\KGPFC \QQVGEPKEC RGT NC RTQFW\KQPG FK ECTPG DQXKPC C 2QTVQ 8KTQ HCEGPFQUK RQTVCXQEG FK PWOGTQUK CNNG XCVQTKJCUETKVVQCFCWVQTKViGKUVKVW\KQPKRGTUGPUKDKNK\\CTNKUWNVGOC FGNN¶CDKIGCVQ HWTVQFKDGUVKCOGWPHGPQOGPQEJGKP8GPGVQFQRQ WPCRCWUCFKSWCNEJGCPPQJCTKRTGUQCETGUEGTGGSWKPFKXCCH HTQPVCVQEQPKORGIPQ +NRTGUKFGPVGEQPHGFGTCNG/CTKQ)WKFKJCRTQOGUUQFKRQTVCTGKNRTQDNG OCCNN¶CVVGP\KQPGFGNNC)KWPVCGFGINKWH¿EKFGNN¶1TICPK\\C\KQPGUKCRGT =i\hl\ek`\i`g\klk`XeZ_\`eleXjk\jjXXq`\e[X`]lik`[`Xkki\qq`\kiXkkfi`% D\qqXeXkf8e^XIfm`^f 1 ÈE\Z\jjXi`f]\idXi\`c]\efd\efÉ% @cgi\j`[\ek\[`:fe]X^i`ZfckliX>l`[` Xjj`ZliXcË`dg\^ef[\ccËFi^Xe`qqXq`fe\ SWCPVQTKIWCTFCNCUGPUKDKNK\\C\KQPGFGKUQIIGVVKKPVGTGUUCVKUKCRGTINK CURGVVKKPGTGPVKNCSWCNK¿EC\KQPGFGNTGCVQGN¶CURGVVQCUUKEWTCVKXQ +P 8GPGVQ EQOG JC FGPWPEKCVQ )KWNKCPQ /CTEJGUKPK FKTGVVQTG FK 7PKECTXG FCNNG EQNQPPG FGN )C\\GVVKPQ FK 8GPG\KC KN FKEGODTG UEQTUQPFTPGNIKTQFKRQEJKIKQTPKFKFKUVCP\CN¶WPQFCNN¶CNVTQUK UQPQXGTK¿ECVKUGVVGHWTVK³5QPQURCTKVKPGNPWNNCQNVTGVQTKWP FCPPQEJGU¿QTCKOKNCGWTQEKTEC'TCPQCNOGPQUGKCPPKEJG PQPCEECFGXCRK~PWNNCSWCPFQXGPPGUIQOKPCVCNCDCPFCXGTQPG UGEJGUKGTCTGUCTGURQPUCDKNGFKHWTVKEQPCTTGUVK© .CUQVVTC\KQPGFKDQXKPKCIITCXCNCUKVWC\KQPGFGNEQORCTVQKPHCVVK UGUQNQ¿PQCSWCNEJGCPPQHCEQPOKNCECRKNCRTQFW\KQPGPGNNC PQUVTCTGIKQPGEQRTKXCKNRGTEGPVQFGNNCECTPGKVCNKCPCQIIKRGTK EKTECOKNNGCNNGXCOGPVKFKDQXKPKFCECTPGXGPGVKKNRGTKQFQPQPpFGK OKINKQTKCNNCDQTUCOGTEKFK/QFGPCNCECTPGXCNGGWTQCNEJKNQ EQPVTQKFGNEQUVQFKRTQFW\KQPG 0GN OKTKPQ FGK NCFTK EK UQPQ CNNGXCOGPVK PGN $CUUQ 4QFKIKPQ 8G TQPGUG2CFQXCPQG8KEGPVKPQ+HWTVKJCPPQVWVVKNCOGFGUKOCEC TCVVGTKUVKECUVCNNGEQPWPCEEGU UQ HCEKNG CNNG ITCPFK UVTCFG FGN VTCH¿EQ + VQTK XGPIQPQ ECTKECVK UWECOKQPRGTDGUVKCOG URGUUQ TWDCVKNCEQPUGIWGP\CpEJGKP RQEQ VGORQ XGPICPQ OCEGNNCVK ENCPFGUVKPCOGPVG G ¿PKUECPQ KP SWCNEJG DCPEQ XGPFKVC KP DCTDC CK EQPVTQNNK FK VTCEEKCDK NKVi G EQOG UQVVQNKPGC #PFTGC /G\\CPCVQ ³Ê OQNVQ RTQDCDKNG N¶KOOKUUKQPG UWN OGTECVQ CPEJG FKCPKOCNKOCPECPVKFGKTGSWKUKVK 8e[i\XD\qqXeXkf UCPKVCTK QDDNKICVQTK KP DCUG CNNC PQTOCVKXCEQOWPKVCTKCEJGKPFK ECRTGEKUGFKURQUK\KQPKUWNNCNQTQOGUUCKPEQOOGTEKQ&KURQUK\KQPK EJGINKCNNGXCVQTKKVCNKCPKTKURGVVCPQRGTOQFCNKViGVGORKICTCPVGP FQKPVCNOQFQEQPHQTOKViGSWCNKViFGNRTQRTKQRTQFQVVQGNCUCNWVG FGNEQPUWOCVQTG´ 2GTTKUQNXGTGKNRTQDNGOC7PKECTXGRTQRQPGKN&PC³2QEJGFGEKPGFK GWTQGKNVTCH¿EQUCTGDDGFGDGNNCVQURKGIC/CTEJGUKPK³'UKUVQPQ OCTEJK CWTKEQNCTK EJG EQP KN ³RCUUCRQTVQ´ FGN DQXKPQ EQPVGPIQPQ CPEJGKN&PC+FCVKUKHCNUK¿ECPQKN&PCPQ+PWPOQOGPVQKPEWK UKCOQKPXCUKFCECTPGRTQXGPKGPVGFCNNC2QNQPKCFKXGPVCKPFKURGPUC DKNGTKWUEKTGCFCXGTGNCEGTVG\\CFGNNCRTQXGPKGP\CFGNDGUVKCOG´ /G\\CPCVQ EJGPGNJCUWDtVQKNHWTVQFKXKVGNNQPKFCOCEGNNQ p FGN RCTGTG EJG CPEJG SWGUVQ UKUVGOC PQP UKC UWH¿EKGPVG C ¿PG PQXGODTGUQPQUVCVKKECRKTWDCVKCWPCNNGXCVQTGFK%CUVG NPQXQ$CTKCPQ 4QXKIQGKNCFTKJCPPQUQVVTCVVQCPEJGEGTVK¿ECVK FKRTQXGPKGP\CGCNNGXCOGPVQFGNDGUVKCOG+PSWGUVQOQFQQNVTGCK XKVGNNK UK UQPQ KORQUUGUUCVK FGK FQEWOGPVK EJG EGTVK¿ECPQ NC VTCE EKCDKNKViICTCPVGPFQUKNCRQUUKDKNKViFKEQOOGVVGTGCNVTKKNNGEKVKURCE EKCPFQRGTFQVCVKFKRCUUCRQTVQECRKEJGPQPNQUQPQ³%QOGRGTKN RCUUCRQTVQCPEJGWPCWTKEQNCTGEQP&PCPQPpUWH¿EKGPVGCHGTOCTG KHWTVKEQPUKFGTCVQEJGKECRKXGPIQPQOCEGNNCVKGUG\KQPCVKKPOCEGNNK ENCPFGUVKPKPGKSWCNKUKHCNUK¿ECPQCPEJGKFQEWOGPVKPGEGUUCTKCNNC EQOOGTEKCNK\\C\KQPGFGNNGECTPK´UGEQPFQ/G\\CPCVQRGTN¶CNNGXCVQTG UKVTCVVGTGDDG³UQNCOGPVG´FKCIIKWPIGTGCNVTCECTVCCSWGNNCEQPNC SWCNGJCIKiVTQRRQCEJGHCTGQIPKIKQTPQUGP\CEQPUKFGTCTGKNHCVVQ EJGUKFQXTGDDGKUVKVWKTGWPWNVGTKQTGUKUVGOCFKEQPVTQNNQFGN&PCFGNNG ECTPKUWUECNCPC\KQPCNGEQPWPEQPUGIWGPVGCWOGPVQFKDWTQETC\KC GFGKEQUVKRGTKNEQPUWOCVQTGGEQPITCPFGKPEGTVG\\CUWNNCHCVVKDKNKVi FKEQPVTQNNQFGNNGECTPKFKKORQTVC\KQPGEJGEQOWPSWGEQPVKPWGTGD DGTQCFGUUGTGCESWKUVCVGFCINKQRGTCVQTKPC\KQPCNK³&CPQPFKOGP VKECTGEJGINKCPKOCNKTWDCVKRQVTGDDGTQGUUGTGEQOOGTEKCNK\\CVKHWQTK FCNN¶+VCNKCQCFFKTKVVWTCHWQTKFCNNC'7RGTVCPVQKPCTGGKPEWKN¶GUCOG FGN&PCPQPEKUCTGDDG+PQIPKECUQIKiCNOQOGPVQFGNHWTVQRGT N¶CNNGXCVQTGEKUCTGDDGWPFCPPQEQPETGVQGFKOOGFKCVQ´ +NXKEGRTGUKFGPVG#PIC4QXKIQQUUGTXCKPQNVTGEJGN¶CDKIGCVQGTCRWPKVQ FCN%QFKEG2GPCNGEQOGKRQVGUKFKHWTVQCIITCXCVQEQPNCRTGXKUKQPG FGNN¶CIITCXCPVGKNNGIKUNCVQTGKPVGPFGXCKUVKVWKTGWPCURGEKCNGRTQVG\KQ PGCHCXQTGFGNRCVTKOQPKQ\QQVGEPKEQGFGNN¶GEQPQOKCCITKEQNC/C QIIK PQP p RK~ EQUt RGTEJo EQPUKFGTCVQ FK UECTUC TKNGXCP\C UQEKC NGPGNN¶CDKIGCVQpUVCVQFGRGPCNK\\CVQFCNNCNGIIGIKWIPQ P PQVCEQOG.GIIGUWNNCFGRGPCNK\\C\KQPGGFCNFGETGVQ NGIKUNCVKXQFKEGODTGP %CRQ++CTVKEQNKG ³+HWTVKPGNNGC\KGPFGCITKEQNGPQPUKNKOKVCPQCNNGTC\\GDQXKPGOC UK CNNCTICPQ CPEJG CN EQORCTVQ UWKPKEQNQ GF CXKEQNQ´ RTQUGIWG /G\\CPCVQ'TC\\KGPQVVWTPGUQPQRWTVTQRRQHTGSWGPVKUUKOGCPEJG TGNCVKXCOGPVGCKOG\\KCITKEQNKFKQIPKVKRQVTCVVQTKUGOKPCVTKEKIG PGTCVQTKFKEQTTGPVGRPGWOCVKEKICUQNKQOQVQ\CRRGFGEGURWINKC :Xie`%<k`Z_\kkX[Ëfi`^`e\ .G ECTPK WVKNK\\CVG EQOG KPITGFKGPVG PGK RTQFQVVK CNKOGP VCTK VTCUHQTOCVK RTQPVK Q UWTIGNCVK VQTVGNNKPK JCODWTIJGT ETQEEJGVVG GEEGVGTC FQXTGDDGTQ RTGXGFGTG N¶KPFKEC\KQPG FGNRCGUGFKQTKIKPGUWNNGGVKEJGVVGEQOGCXXKGPGIKiRGTNG ECTPKDQXKPGHTGUEJG3WGUVCNCEQPENWUKQPGRTKPEKRCNGFGNNC TKUQNW\KQPGCRRTQXCVCN¶HGDDTCKQFCN2CTNCOGPVQGWTQRGQ C5VTCUDWTIQ&QRQN¶GVKEJGVVCF¶QTKIKPGQDDNKICVQTKCRGTNC ECTPGHTGUECQEQPIGNCVCFKOCP\QGUVGUCCRCTVKTGFCNRTQU UKOQCRTKNGCPEJGCRQNNKOCKCNKRGEQTGGECRTGKN2CTNC OGPVQCEEQINKGEQUtNCTKEJKGUVCFKOCIIKQTGVTCURCTGP\CFGK EQPUWOCVQTKGKPXKVCNC%QOOKUUKQPGGWTQRGCCRTGUGPVCTG RTQRQUVGNGIKUNCVKXG³KPOQFQFCTKEQPSWKUVCTGNC¿FWEKCFGK EQPUWOCVQTK FQRQ NQ UECPFCNQ FGNNC ECTPG GSWKPC G CNVTG HTQFKCNKOGPVCTK´ VQTK KORKCPVK FK KTTKIC\KQPG RTQFQVVK .C NKUVC p NWPIC G FGUVKPCVC CFCNNWPICTUKEQNRGPFQNGC\KGPFGCITKEQNGFKVWVVC+VCNKCEQPWPQ UVKNNKEKFKQKPCVVQQTOCKFCFKXGTUKCPPKEJGHCRGPUCTGCFWPVTCH¿EQ QTICPK\\CVQFKTGVVQXGTUQK2CGUKFGNN¶'UV'WTQRCOCCPEJGGPVTQK EQP¿PKKVCNKCPK ÊSWCPVQOCKWTIGPVGWPRKCPQFKTCHHQT\COGPVQFGNN¶CVVKXKViFKEQP VTQNNQ FGNNG HQT\G FGNN¶QTFKPG UWN VGTTKVQTKQ %QPHCITKEQNVWTC 4QXKIQ IKiPGINKCPPKUEQTUKCXGXCUQNNGEKVCVQRK~XQNVGWPKPVGTXGPVQKPVCN UGPUQCKEQORGVGPVKWH¿EKRWDDNKEKOCNCDWQPCXQNQPViGURTGUUC PQP p UVCVC UQTTGVVC FC WP CFGIWCVQ CRRQTVQ FK WQOKPK G OG\\K FGNN¶QTFKPG ³1NVTGCWPCWURKECDKNGECODKCOGPVQFGNNCNGIKUNC\KQPGEQPRGPG KFQPGG C UEQTCIIKCTG K (WTVK EQPENWFG #PFTGC /G\\CPCVQ NG C\KGPFG\QQVGEPKEJGRK~EJGKPCNVTGECTVGGFQEWOGPVKQTOCKVWVVK HCNUK¿ECDKNKFQXTGDDGTQKPXGUVKTGKPUKUVGOKF¶CNNCTOGGH¿ECEKEQNNG ICVKEQPNGHQT\GFGNN¶QTFKPGGEQCFKWXCVKFCKORKCPVKGNGVVTKEKCWVQ PQOKPQPEJoFKWPUGTXK\KQFKEQPVTQNNQGHHGVVWCVQFCRTKXCVK7PC VWVGNC³HCKFCVG´EJGRQUUCRTQVGIIGTGCWP¶C\KGPFCCITKEQNC FCNDGUVKCOGCKOCEEJKPCTKCNICUQNKQ0CVWTCNOGPVGKNVWVVQCXTGDDG WP¶KPEKFGP\CEJGRGTyUKCIIKWPIGCKEQUVKIKiKPUQUVGPKDKNKFGNNC RTQFW\KQPG´ J\q`feXk``edXZ\cc`ZcXe[\jk`e`#`Yfm`e`g\i[feff^e`i`ekiXZZ`XY`c`k~% (0 =@KFJ8E@K8I@N>C@JK8E;8I;;@HL8C@KÁ8D9@<EK8C<8KLK<C8;<CC<8:HL<E<CI8GGFIKF@JGI8 :XcXefc\ZfekXd`eXq`fe` [fmlk\XccXqffk\Ze`X ÊUVCVQRTGUGPVCVQFC+524#³+NTCRRQTVQPC\KQPCNGRGUVKEKFKPGNNGCESWG´ GFK\KQPGEJGUKTKHGTKUEGCKFCVKFKOQPKVQTCIIKQTGNCVKXKCINKCPPK .CRTKOCGNCDQTC\KQPGFGNNQUVWFKQJCOGUUQKPGXKFGP\CEJG NCOCIIKQTRCTVGFGNVGTTKVQTKQ FCNCNCUGEQPFCFGNNG4GIKQPK KPFKRGPFGPVGOGPVGFCNITCFQFKRGTKEQNQCFGUUQCUUQEKCDKNGpRTGXCNGP VGOGPVGUQIIGVVQCNNCRTGUGP\CFKUQTIGPVKOWNVKRNG KNEQPVTKDWVQ³RTGXCNGPVG´FKPCVWTC³\QQVGEPKEC´EQUKEQOGSWGNNQ³EKXKNG´ KPVGTGUUCPQPGNNCOCIIKQTRCTVGFGKECUKPQPRK~FGNFGNNGUWRGT¿EK TGIKQPCNK NCUQTIGPVGOKPGTCNGRTGXCNGPVGKPVGTGUUCFCWPOKPKOQFGNCFWP OCUUKOQFGNFGNNGUWRGT¿EKTGIKQPCNK 0GNKPRCTVKEQNCTGNGKPFCIKPKJCPPQTKIWCTFCVQRWPVKFKECORKQ PCOGPVQGECORKQPKGEQORNGUUKXCOGPVGUQUVCP\G 5QPQUVCVKTKPXGPWVKRTKPEKRKCVVKXKPGNFGKRWPVKEQPVTQNNCVKPGNNG CESWGUWRGT¿EKCNK PGNFGKRWPVKEQPVTQNNCVKPGNNGCESWGUQVVGTTCPGG0GNNGCESWG UWRGT¿EKCNKRWPVKFKOQPKVQTCIIKQ FGNVQVCNGJCPPQEQPEGPVTC @c^c`]fjXk\j]fiX`c`d`k`[`c\^^\# dXcË\iY`Z`[X ljXkfXeZ_\ `eqfe\`e[ljki`Xc`\Z`m`c` \KQPKFKRTKPEKRKCVVKXKUWRGTKQTKCKNKOKVKFKNGIIGEQPRCTVKEQNCTGTKHGTKOGPVQ CINKHQUCVGGKNUWQOGVCDQNKVC#/2#OGVQNCENQTVTKEKENC\QNQQZCFKC\QP VGTDWVKNC\KPCGKNUWQRTKPEKRCNGOGVCDQNKVCOGPVTGPGNNGCESWGUQVVGTTCPGG JCPPQEQPEGPVTC\KQPKFKRTKPEKRKCVVKXKUWRGTKQTKCKNKOKVKFKNGIIGRWPVK FGNVQVCNG+PVCNGCODKVQNGUQUVCP\GTKPXGPWVGRK~HTGSWGPVGOGPVG UQPQDGPVC\QPGOGVCNCZKNVGTDWVKNC\KPCGFGUGVKNVGTDWVKNC\KPCCVTC\KPCG CVTC\KPCFGUGVKN QZCFKZKN KOKFCENQRTKF QZCFKC\QP DTQOCEKNG FKENQTQ DGP\COOKFGOGVQNCENQT8GFKCOQWPCUKPVGUKFGNOQPKVQTCIIKQ ).+(15#6'%1 ÊFCTKNGXCTGEQOGPGNNGCESWGUWRGT¿EKCNKKNOCIIKQTPWOGTQFKUWRGTC OGPVKpFCVQFCNINKHQUCVGGFCNUWQOGVCDQNKVC³CORC´TKURGVVKXCOGPVGPGN GPGNFGKUKVKOQPKVQTCVK Min Max < SQA < LOQ Totali > SQA < SQA < LOQ Totali ANNO 2012 ACQUE SOTTERRANEE PUNTI MONITORAGGIO ACQUE SUPERFICIALI PUNTI MONITORAGGIO LQ (μg/L) > SQA )' Sostanze cercate KXY\ccX[\`c`m\cc`[`ZfekXd`eXq`fe\ 53 31 0,001 0,010 0,050 0,050 0 0 6 0 22 16 28 16 7 20 93 120 Abruzzo Basilicata* Calabria Campania* Emilia-Romagna Friuli-Venezia Giulia* Lazio Liguria Lombardia Marche Molise Piemonte Puglia** Sardegna Sicilia Toscana Umbria Valle d’Aosta Veneto Provincia di Bolzano Provincia di Trento 89 82 20 36 3 57 44 0,001 0,010 0,010 0,005 0,001 0,004 0,001 0,100 0,050 0,050 0,100 0,050 2,500 0,500 1 14 0 1 0 171 5 16 98 14 0 0 30 28 47 51 20 5 9 114 65 64 163 34 6 9 315 98 1 8 21 0 1 36 75 0 107 182 41 17 109 226 137 17 43 0 149 3 262 47 454 50 67 76 65 158 75 78 87 115 191 83 0,002 0,001 0,001 0,005 0,005 0,010 0,010 0,000 0,001 0,030 0,020 0,300 1,000 0,300 0,190 0,050 0,300 0,100 0,500 0,500 15 0 1 2 7 1 0 34 0 1 74 1 2 13 33 10 0 82 3 5 19 57 105 30 105 6 15 73 3 39 108 58 108 45 145 17 15 189 6 45 32 0 2 31 1 1 0 5 0 0 170 1 8 47 31 3 0 67 1 0 152 12 67 85 246 86 55 162 14 12 354 13 77 163 278 90 55 234 15 12 ITALIA 349 253 415 801 1469 152 612 1640 2404 * dati 2011. (**) acque sotterranee, dati 2011. 35 30 25 20 15 10 5 0 Campioni / Sostanze 40 100 90 80 70 60 50 40 30 20 10 0 100 90 80 70 60 50 40 30 20 10 0 Campioni / Sostanze 8'0&+6' 2QUKVKXKUQPQCPEJGKFCVKTGNCVKXKCNNGXGPFKVGFKRTQFQVVK¿VQUCPKVCTK+FCVK +56#6KPFKECPQWPCUGPUKDKNGFKOKPW\KQPGFGNNGXGPFKVGFKRTQFQVVK¿VQUCPK VCTKKHQTOWNCVKUQPQRCUUCVKFCCVQPPGNNCVG K RTKPEKRK CVVKXK JCPPQ CXWVQ WP ECNQ RK~ OCTECVQ RCUUCPFQ FC C VQPPGNNCVG ÊFKOKPWKVCKPQNVTGKPOQFQRK~EJGRTQRQT\KQ PCNG NCSWCPVKViFGKRTQFQVVKRK~RGTKEQNQUK OQNVQVQUUKEKGVQUUKEK OGPVTGpCWOGPVCVCSWGNNCFGKRTQFQVVKPQEKXK 3WGUV¶WNVKOQFCVQUGODTCGXKFGP\KCTGWPRK~ECWVQKORKGIQFGNNGUQUVCP\G KPCITKEQNVWTCEQUCRGTCNVTQHCXQTKVCFCNNCRQNKVKECCITKEQNCEQOWPKVCTKCGPC \KQPCNGGFCNN¶CFQ\KQPGFKVGEPKEJGFKFKHGUC¿VQUCPKVCTKCCOKPQTGKORCVVQ ACQUE SUPERFICIALI - PESTICIDI TOTALI 45 Frequenza di ritrovamento (%) %KyCPEJGKPTGNC\KQPGCNHCVVQEJGKNINKHQUCVGGTDKEKFCPQPUGNGVVKXQKORKG ICVQUKCPGNNGEQNVKXC\KQPKCTDQTGGGFGTDCEGGEJGPGNNGCTGGPQPFGUVKPCVG CNNGEQNVWTGCITCTKG KPFWUVTKCNKEKXKNKCTIKPKUEQNKPGGEEGVGTCpWPCFGNNG UQUVCP\GRK~XGPFWVGCNKXGNNQPC\KQPCNGGNCUWCRTGUGP\CPGNNGCESWGp CORKCOGPVGEQPHGTOCVCCPEJGFCFCVKKPVGTPC\KQPCNK 8CEQOWPSWGTKNGXCVQEJGKNUWQOQPKVQTCIIKQpGHHGVVWCVQUQRTCVVWVVQKP .QODCTFKCFQXGNCUQUVCP\CpRTGUGPVGPGNFGKRWPVKFKOQPKVQTCI IKQFGNNGCESWGUWRGT¿EKCNKGKNUWQOGVCDQNKVCCORCPGN/GPQ HTGSWGPVGpNCRTGUGP\CPGNNGCESWGUQVVGTTCPGGFQXGKNINKHQUCVGpRTGUGPVG QNVTGKNNKOKVGKPFWGRQ\\KGN¶CORCKPEKPSWGRQ\\K )NKGTDKEKFKVTKC\KPKEKCVTC\KPCUKOC\KPCVGTDWVKNC\KPCGKOGVCDQNKVKCVTC\KPC FGUGVKNVGTDWVKNC\KPCFGUGVKNUQPQKPXGEGVTCNGUQUVCP\GRK~TKPXGPWVGPGNNG CESWGUWRGT¿EKCNKGKPSWGNNGUQVVGTTCPGG#GEEG\KQPGFGNNCVGTDWVKNC\KPCVWV VGNGCNVTGUQUVCP\GPQPUQPQRK~CWVQTK\\CVGKP'WTQRC#PEJGCNVTGUQUVCP\G TKNGXCVGPGNEQTUQFGNOQPKVQTCIIKQEQOGKNOGVQNCENQTGKNDGP\CVQPGUQPQ UVCVGTGXQECVGQJCPPQUWDKVQNKOKVC\KQPKF¶WUQIKiFCOQNVQVGORQ%Ky OGVVGKPGXKFGP\CEJGNCOCIIKQTRCTVGFGNNGEQPVCOKPC\KQPKTKNGXCVGUQPQ TKEQPFWEKDKNKCNN¶CORKQWVKNK\\QFKCNEWPKRTKPEKRKCVVKXKPGNRCUUCVQGCNNCNQTQ RGTUKUVGP\CCODKGPVCNGOGPVTGRGTSWCPVQTKIWCTFCNCOCIIKQTRCTVGFGK RTKPEKRKCVVKXKCVVWCNOGPVGWVKNK\\CVKUKRWyCHHGTOCTGEJGKNEQORCTVQCITKEQ NQEQPKNUWRRQTVQFGNNGKPPQXC\KQPKKPOCVGTKCCFQVVCVGEPKEJGEJGJCPPQ TKFQVVQPQVGXQNOGPVGNGFKURGTUKQPKFKRTQFQVVQPGNN¶CODKGPVG+PRTQRQUKVQ OQNVQKPVGTGUUCPVKUQPQKITC¿EKGKPEWKUKTKRQTVCN¶CPFCOGPVQPGNRGTKQ FQFGNNCHTGSWGP\CFKTKVTQXCOGPVQFKCITQHCTOCEKPGNNGCESWG UWRGT¿EKCNKGUQVVGTTCPGG VTGPFKPFKOKPW\KQPGEQPHTQPVCVQEQPKNPWOGTQ FKUQUVCP\GEGTECVGGKNPWOGTQFKECORKQPKRTGNGXCVQ VTGPFKPCWOGPVQ >I8=@:@(\)$=i\hl\eqX[`i`kifmXd\ekf \Xdg`\qqX[\cdfe`kfiX^^`fe\cc\XZhl\ jlg\iÔZ`Xc`\jfkk\iiXe\\ 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Frequenza di ritrovamento (%) Campioni totali Sostanza cercata ACQUE SOTTERRANEE - PESTICIDI TOTALI 45 Frequenza di ritrovamento (%) :fe]X^i`ZfckliX1fiXelfm\Xq`fe` Xc`m\ccfeXq`feXc\\[\lifg\f 40 35 30 25 20 15 10 5 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Frequenza di ritrovamento (%) Campioni totali Sostanza cercata K8MFCFE@KI8K@NC<I@:?@<JK<;@:FE=8>I@:FCKLI8;FGF@I@JLCK8K@;<CCFJKL;@F@JGI8 Efid\Z\ik\g\i`c[`^\jkXkf\elfm`Zi`k\i`g\ic\QME #NNCNWEGFGKTKUWNVCVKHQTPKVKFCNNQUVWFKQ+URTCKNXKEGRTGUKFGPVGFK %QPHCITKEQNVWTC '\KQ 8GIIKC CN VGTOKPG FGN UGOKPCTKQ FK RTGUGPVC \KQPGFGNTCRRQTVQKNIGPPCKQUEQTUQCXGXCUWDKVQUQNNGEKVCVQCK OKPKUVTK FGNNG 2QNKVKEJG CITKEQNG G FGNN¶#ODKGPVG /CTVKPC G )CNNGVVK WPC TCRKFC FG¿PK\KQPG FGNNG C\KQPK PGEGUUCTKG RGT FCTG TKURQUVG CN UGVVQTG\QQVGEPKEQCNRTQUUKOQ³6CXQNQ0KVTCVK'KN6CXQNQVGPWVQUKKN HGDDTCKQEQPKOKPKUVTKGNG4GIKQPKJCEQPHGTOCVQEJGKPDCUG CNNQUVWFKQ+524#EKUQPQNGEQPFK\KQPKRGTHCTGWPWNVGTKQTGRCUUQ CXCPVKPGNNCUGORNK¿EC\KQPGFGINKCFGORKOGPVKDWTQETCVKEKGVGEPKEK RGTKNUGVVQTG\QQVGEPKEQ )NKQDKGVVKXKKPFKECVKUQPQSWGNNKFKGOCPCTGTCRKFCOGPVGKNFGETGVQ FKIGUVCVQEQPCNEWPGUGORNK¿EC\KQPKPGNNCIGUVKQPGFGINKGHÀWGPVKG TGIQNG RGT N¶WVKNK\\Q CITQPQOKEQ FGN FKIGUVCVQ UW EWK C DTGXG XGTTi HQTPKVQKNRCTGTGFGNNC%QOOKUUKQPGGWTQRGCTKPPQXCTGNCTKEJKGUVCFK FGTQICCPEJGUGTKIWCTFCWPPWOGTQNKOKVCVQFKC\KGPFG\QQVGEPKEJG RTQEGFGTG CNN¶CIIKQTPC OGPVQ FGNNG CTGG XWNPGTC DKNK 4KURGVVQ C SWGUV¶WNVK OQRWPVQKOKPKUVTKJCPPQ ¿UUCVQ C OGVi OCT\Q NC FCVC FK XGTK¿EC FGNNC FQ EWOGPVC\KQPGRTGFKURQUVC FCNNG 4GIKQPK Ê KPFKURGP UCDKNG EJG VCNG UECFGP\C UKCTKURGVVCVCRGTFCTGCVVWC\KQPGCSWCPVQRTGXKUVQFCNN¶#EEQTFQ5VC VQ4GIKQPKFGNOCIIKQEJGKPTGNC\KQPGCKTKUWNVCVKFGNNQUVWFKQ +URTCRTGXGFGN¶CIIKQTPCOGPVQFGNNG\QPGXWNPGTCDKNKGN¶CFGIWCOGP VQFGKRTQITCOOKFKC\KQPGEQUKEQOGpUQVVQNKPGC%QPHCITKEQNVWTC KPFKURGPUCDKNG CRTKTG WP EQPHTQPVQ EQP N¶7PKQPG GWTQRGC RGT WPC OCIIKQTGÀGUUKDKNKViFGNNGFKURQUK\KQPKFGNNC&KTGVVKXCPKVTCVK )( 8>IF8C@D<EK8I<M<E<KFNI8GGFIKF)'(+;@M<E<KF8>I@:FCKLI81LEË8EE8K8KI8C<D<EF=<C@:@ DX`cGji jXcm\i~^c`X^i`Zfckfi`6 +NHCVVQTGOGVGQFCUGORTGpWPC³XCTKCDKNG¿UUC´RGTNCRTQFW \KQPGCITKEQNC1UUGTXC\KQPGDCPCNGEGTVQOCNCUWCKPEGTVG\\CUK UCXCOGUUCUGORTGKPEQPVQ#PEJGPGNPWOGTQUGCPQOCNKG ENKOCVKEJGJCPPQEQPFK\KQPCVQKPPGICVKXQGKPRQUKVKXQKTKUWNVCVK RTQFWVVKXKFGNNGXCTKGEQNVWTGPGNNCPQUVTCTGIKQPGKPRCTVKEQNCTGUKp QUUGTXCVQWPKPXGTPQEQPRTGEKRKVC\KQPKGVGORGTCVWTGOQNVQUWRG TKQTKCNNCPQTOCWP¶GUVCVGCUUCKHTGUECGRKQXQUCWPCWVWPPQOQNVQ ECNFQPGKXCNQTKOKPKOKGEQPRTGEKRKVC\KQPKPWQXCOGPVGCDDQPFCPVK CPQXGODTG5GN¶CPPCVCCITCTKCCRRGPCVTCUEQTUCPQPUCTiTKEQT FCVCVTCNGOKINKQTKWPCDWQPCRCTVGFGNNGECWUGXCFWPSWGCVVTK DWKVC CNN¶CPFCOGPVQ ENKOCVKEQ CN SWCNG UK CUUQOOCPQ INK GHHGVVK FGNNCETKUKGEQPQOKECEQPEQPUGIWGPVGECNQFGKEQPUWOKCNKOGPVCTK `JkfZb$9i`Xe9ifne )) DXeqXkf1ÈE\cgifjj`dfGjihlXj`(#)'' d`c`Xi[`ÔefXc)')'g\icË`dgi\e[`kfi`X\` ^`fmXe`É%9Xe[XcXi^X\Zfdg\k`k`m`k~ kiX^c`fY`\kk`m` EJGPQPCEEGPPCCFKOKPWKTGNQUQVVQNKPGCCPEJGN¶CPPWCNGTGRQTV GNCDQTCVQFC8GPGVQ#ITKEQNVWTCKPEQNNCDQTC\KQPGEQPKN%GPVTQUVWFK 7PKQPECOGTGFGN8GPGVQKN%GPVTQOGVGQTQNQIKEQ#42#8GN¶7PKVi RGTKHGTKECRGTK5GTXK\K¿VQUCPKVCTKFGNNC4GIKQPG8GPGVQNGEWKRTKOG XCNWVC\KQPKUWNN¶CPFCOGPVQFGNUGVVQTGCITQCNKOGPVCTGXGPGVQUQPQ UVCVGRTGUGPVCVGKNIGPPCKQPGNNCUGFGFK%QTVG$GPGFGVVKPCC .GIPCTQ 2F :XcXef`dgi\j\\fZZlgXk`e\cgi`dXi`f% @cj\kkfi\`eM\e\kf_Xi\^`jkiXkf Zfdlehl\leXZi\jZ`kX[\ccXGcm gXi`X,#-d`c`Xi[`[`\lif +N4CRRQTVQFK8GPGVQ#ITKEQNVWTCGXKFGP\KCFWPSWGN¶GHHGVVQPGICVKXQ UWCNEWPGEQNVWTGFGNN¶GEEG\KQPCNGRKQXQUKViRTKOCXGTKNGFCOCT\QC OCIIKQpECFWVCKP8GPGVQWPCSWCPVKViFKRKQIIKCRK~EJGFQRRKC TKURGVVQCNNCOGFKCFGNEQPVGORGTCVWTGFGEKUCOGPVG KPHGTKQTKCNNCPQTOC0GJCPPQTKUGPVKVQUQRTCVVWVVQKEGTGCNKCWVWPPQ XGTPKPKNGEWKRTQFW\KQPKTKUWNVCPQKPIGPGTCNGFKOKPW\KQPGHTWOGPVQ VGPGTQGHTWOGPVQFWTQOGPVTGNCRTQFW\KQPGFGNN¶QT\Qp CWOGPVCVCFGNOCUQNCOGPVGITC\KGCNPQVGXQNGCWOGPVQFGN NCUWRGT¿EKGKPXGUVKVC +PPGVVQTGEWRGTQTKURGVVQCNRGUUKOQ ECTCVVGTK\\CVQ FC WP¶GUVCVG OQNVQ UKEEKVQUC KN OCKU EJG UK EQPHGTOCRTKOCEQNVWTCTGIKQPCNGEQPWPCUWRGT¿EKGFKGV VCTK GWPCRTQFW\KQPGUCNKVCCOKNKQPKVQPPGNNCVG 0QPQUVCPVGKUWFFGVVKECNKRTQFWVVKXKKNRTG\\QFGKEGTGCNKJCURGUUQ UWDtVQ N¶CPFCOGPVQ FGNNG SWQVC\KQPK KPVGTPC\KQPCNK KPÀWGP\CVG FC WP¶CPPCVCIGPGTCNOGPVGCUUCKRTQFWVVKXCCNKXGNNQINQDCNG 5QPQSWKPFKTKUWNVCVKCNTKDCUUQKRTG\\KOGFKCPPWKFKOCKU HTWOGPVQVGPGTQ GQT\Q 5VCDKNGKNRTG\\QFGNHTWOGPVQ FWTQGKPEQPVTQVGPFGP\CSWGNNQFGNTKUQ ³(QTVWPCVCOGPVGJCTKNGXCVQKNEQOOKUUCTKQUVTCQTFKPCTKQFGNN¶GPVG )KWUGRRG0G\\Q±NCSWCNKViEJGEQPVTCFFKUVKPIWGKRTQFQVVKFGNNC PQUVTCCITKEQNVWTCTKGUEGURGUUQCEQPVGPGTGNGFKH¿EQNViEJGINKKO RTGPFKVQTKKPEQPVTCPQUWKOGTECVK´'KPGHHGVVKKNUGVVQTG±VTCGNGOGP VKFKFGDQNG\\CGUGIPCNKRQUKVKXKPQPQUVCPVGVWVVQJCTGIKUVTCVQWPC 2NXKPETGUEKVCEQPWPNGIIGTQKPETGOGPVQFGNTKURGVVQCN RCTKCWPKORQTVQFKOKNKCTFKFKGWTQ7PCWOGPVQFQXWVQSWCUK GUENWUKXCOGPVGCNOKINKQTCOGPVQFGNNGRGTHQTOCPEGURTQFWVVKXGCN FKNiRGTEKyFGKRTQDNGOKETGCVKFCNNC³XCTKCDKNG¿UUC´OGVGQ .¶CUUGUUQTGCNN¶#ITKEQNVWTCTGIKQPCNG(TCPEQ/CP\CVQJCTKEQTFCVQ EJGPGNRTQUUKOQ2TQITCOOCFKUXKNWRRQTWTCNGUQPQRTGXKUVK¿PCP \KCOGPVKEJGRQVTCPPQTKFCTGQUUKIGPQCNNGKORTGUGEJGKPVGPFQPQ KPXGUVKTGRGTTCHHQT\CTGNCRTQRTKCC\KGPFC³5VCRGTRCTVKTGKNPWQXQ 2TQITCOOCFKUXKNWRRQTWTCNGEJG¿PQCNOGVVGTiCFKURQUK \KQPGFGKPQUVTKKORTGPFKVQTKCITKEQNKSWCUKWPOKNKCTFQGFWGEGPVQ OKNKQPKFKGWTQ´ ³+N2UTXGPGVQ±JCURKGICVQ/CP\CVQUCTiVTCKRTKOKKP+VCNKCCFQV VGPGTGKNXKCNKDGTCFCNNC%QOOKUUKQPGGWTQRGCRGTEWKRTGUVQWUEK TCPPQKRTKOKDCPFKQTKGPVCVKCNTCHHQT\COGPVQFGNNGPQUVTGKORTGUG CITKEQNG CNNC EQORGVKVKXKVi CNNC DCPFC NCTIC CK IKQXCPK´ ' RGT K IKQXCPKpCPEJGRTGXKUVCRGTKNOCT\QC.GIPCTQWPCIKQTPCVC KPHQTOCVKXCIKQTPCVCKPHQTOCVKXCFCNNGCNNG³0GKRTQUUKOKCPPK ±JCURGEK¿ECVQN¶CUUGUUQTGOKNKQPKFKGWTQUCTCPPQFGUVKPCVK CNN¶KORTGPFKVQTKCCITKEQNCXGPGVCDGPOKNKQPKCKIKQXCPK+PUQO OCWPCITCPFGQRRQTVWPKViFCUHTWVVCTGCNOGINKQ´ %'4'#.+ /CKU+NOCKUEQNVWTCGUVTGOCOGPVGDKUQIPQUCFKCESWCJCEGT VCOGPVG DGPG¿EKCVQ FGNNC RKQXQUKVi 2WT TGUVCPFQ NC EQNVWTC RK~ FKHHWUC KP 8GPGVQ PQPQUVCPVG WPC EQPVTC\KQPG FGNNC UWRGT¿EKG FK GVVCTK NCRTQFW\KQPGpCWOGPVCVC DGPTCI IKWPIGPFQSWCUKKOKNKQPKFKVQPPGNNCVG GUCVVCOGPVGOKNKQPK FKVQPPGNNCVG+OGTECVKJCPPQRGTyTGCIKVQCSWGUVQUWTRNWU CPEJG OQPFKCNGEQPWPTKDCUUQFGKRTG\\KUKECNEQNCKPHCVVKWPXCNQTGOG FKQCPPWQKPECNQFGN (TWOGPVQVGPGTQ*COCPVGPWVQNCRTQFW\KQPGFGNN¶CPPQRTGEGFGP VGOCJCTGIKUVTCVQWPRTG\\QOGFKCOGPVGKPHGTKQTGFGN (TWOGPVQ FWTQ *C KPETGOGPVCVQ UKC NC SWCPVKVi TCEEQNVC EJG NG SWQVC\KQPK TKURGVVKXCOGPVGFGNGFGNN¶ 1T\Q*CUWDtVQWPECNQFKRTQFW\KQPG GFKRTG\\Q 4KUQ*CEQORGPUCVQNCEQPVTC\KQPGRTQFWVVKXC EQPWPCPFC OGPVQFKOGTECVQHCXQTGXQNG %1.674'+0&7564+#.+ 5QKC0WQXQTGEQTFRTQFWVVKXQXGPGVQ VQPPGNNCVG KPHQT\CFGNEQPVGUVWCNGCWOGPVQFGNFGNNCTGUCGFGNNCUWRGT¿ EKGEQNVKXCVCFGVGTOKPCPFQVWVVCXKC UVGUUGECWUGFGNOCKUWPECNQ FGNFGNRTG\\QOGFKQCPPWQ $CTDCDKGVQNC FC \WEEJGTQ 2K~ EJG TCFFQRRKCVC NC RTQFW\KQPG KPUGIWKVQCWPHQTVGKPETGOGPVQFKUWRGT¿EKG G FKTGUC #NVTG EQNVWTG KPFWUVTKCNK KP UKIPK¿ECVKXQ CWOGPVQ CPEJG NC RTQFW \KQPGFKVCDCEEQ VTCNGEQNVWTGGPGTIGVKEJGKNIKTCUQNGJC UWDtVQ WP PQVGXQNG ECNQ FK UWRGT¿EKG OGPVTG KN EQN\C JC TGIKUVTCVQWPEQURKEWQCWOGPVQFKRTQFW\KQPG 146+%1.' .GDK\\CTTKGENKOCVKEJGJCPPQRGPCNK\\CVQKPXGEGCNEWPGEQNVWTGQTVK EQNGKPRKGPQECORQ+PRCTVKEQNCTGKNTCFKEEJKQNCEWKRTQFW\KQPGp UEGUCFGNOCPGJCHCXQTKVGCNVTGNCRCVCVCCFGUGORKQJC CWOGPVCVQNCRTQFW\KQPGFGN (4766+%1.674# .CETKUKEQOOGTEKCNGUQHHGTVCFCNNCHTWVVCGUVKXCUQRTCVVWVVQFCNNG RGUEJGCECWUCFGNECNQFGKEQPUWOKGFGNNCRGUCPVG\\CFGKOGT ECVKJCEQUVTGVVQNC%QOOKUUKQPGGWTQRGCCKPVGTXGPKTGEQPOKUWTG WTIGPVKFKUQUVGIPQ2GTyTKURGVVQCNNCRTQFW\KQPGpTKUWNVCVC KPETGUEKVCRGTOGNQ GRGTQ UVC\KQPCTKCRGTCEVKPK FKC+PECNQRGTEKNKGIKQ GQNKXQ SWGUV¶WNVKOQHQTVG OGPVGEQNRKVQEQOGKPSWCUKVWVVQKNVGTTKVQTKQPC\KQPCNGGFGWTQRGQ EQPTKFW\KQPKFKRTQFW\KQPGCNUWFFKCPEJGKNFCINKCVVCEEJK FKOQUECGCNVTQ 8+6+8+0+%1.674# #PPCVCFKH¿EKNGRGPCNK\\CVCFCWP¶GUVCVGGEEGUUKXCOGPVGWOKFCG RKQXQUCEJGJCETGCVQPQPRQEJKRTQDNGOKCNNCFKHGUC¿VQUCPKVCTKC GCNNCIGUVKQPGFGKXKIPGVK.GRTQFW\KQPKFKWXCGXKPQUQPQUVKOCVG KPECNQFGNN¶TKURGVVQCNN¶CPPQRTGEGFGPVGTKDCUUQEJGXCNGRWTG RGTKRTG\\KFKWXGGXKPK EKTECKN <116'%0+# 4KUWNVCVKCNVGTPK5KTGIKUVTCWPCWOGPVQFGNNCRTQFW\KQPGGFGNRTG\ \QFGNNCVVGKPVQTPQCNOCNCEQPIKWPVWTCHCXQTGXQNGFKOGTEC VQpCPFCVCUEGOCPFQPGNNCUGEQPFCRCTVGFGNN¶CPPQ 3WQVC\KQPKIGPGTCNOGPVGKPECNQRGTNCECTPGUKCDQXKPC EJG UWKPC GCXKEQNC CPEJGCECWUCFGNNCEQPVTC\KQPGFGK EQPUWOK.CTKFW\KQPGFGKEQUVKRGTN¶CESWKUVQFKOCPIKOKGRTQFQVVK GPGTIGVKEK JC VWVVCXKC RCT\KCNOGPVG RTGUGTXCVQ NC TGFFKVKXKVi FGINK CNNGXCOGPVK I\[[`k`X^i`Zfc`1d\ef(( .¶+VCNKCpSWCTVWNVKOCKPITCFWCVQTKCFQRQXGPIQPQUQNQ(KP NCPFKC.KVWCPKCG$GNIKQWNVKOQPGNNCENCUUK¿ECRWDDNKECVCFC 'WTQUVCVPGNUGEQPFQNGRTKOGUVKOGFGNN¶WH¿EKQUVCVK UVKEQFGNNC7GKNTGFFKVQFGINKCITKEQNVQTKKVCNKCPKpKPHCVVKUEGUQ FGNN¶TKURGVVQCNN¶CPPQRTGEGFGPVGVQTPCPFQCTGIKUVTCTG WPXCNQTGKPHGTKQTGUKCRWTGFKRWPVKRGTEGPVWCNKTKURGVVQ CSWGNNQFGNN¶CPPQFKTKHGTKOGPVQ KPFKEGFKTKHGTKOGPVQ FQRQKNRQUKVKXQTKUWNVCVQFGN 0GN RGTKQFQ VWVVK INK CPPK GUENWUQ CRRWPVQ KN JCPPQTGIKUVTCVQRGTN¶+VCNKCXCNQTKKPHGTKQTKCNEQP KNOKPKOQPGNSWCPFQKNFGETGOGPVQFKTGFFKVQTKURGVVQ CNN¶CPPQFKTKHGTKOGPVQpUVCVQCFFKTKVVWTCFGN0GNRG TKQFQUQNQ4GIPQ7PKVQG)GTOCPKCJCPPQUGO RTGTGIKUVTCVQTGFFKVKUWRGTKQTKCN 6TC K RTKPEKRCNK 2CGUK CITKEQNK FGNN¶7PKQPG GWTQRGC KN 4GIPQ 7PKVQpKNRCGUGKPEWKKNTGFFKVQFGNUGVVQTGRTKOCTKQPGN TKURGVVQCNpETGUEKWVQOCIIKQTOGPVG UGIWKVQ FC)TGEKC (TCPEKC G)GTOCPKC 1N VTGN¶+VCNKCUQNQNC5RCIPCpCPFCVC³UQVVQ´ +TKUWNVCVK OKINKQTKTKURGVVQCNUQPQFK)GTOCPKC G4GIPQ 7PKVQ ÊGXKFGPVGEQOGKTGFFKVKFGINKCITKEQNVQTKKVC NKCPKPGKFKXGTUKCPPKUKUKCPQCNNQPVCPCVKUKIPK¿ECVKXCOGPVG FCNNCOGFKC(CGEEG\KQPGUQNQKNSWCPFQNCFKUVCP\C PGICVKXCpUVCVCTGNCVKXCOGPVGRK~EQPVGPWVCTKURGVVQ CNN¶7'FGK2CGUKEJGPGHCPPQRCTVGCVVWCNOGPVG TKURGVVQCNN¶7'FGK2CGUKEJGPGHCEGXCPQRCTVGPGN 0GNVCNGFKUVCP\CpUVCVCTKURGVVKXCOGPVGFGN 7'GFGN 7' .CUKVWC\KQPGKVCNKCPCUKKPUGTKUEGVWVVCXKCPGNNQUVGUUQOGTEC VQQTOCKINQDCNK\\CVQFGINKCNVTK2CGUKEKyEJGECODKCUQPQNG EQPFK\KQPKTGNCVKXGCNNCEQNNQEC\KQPGFGNRTQFQVVQUWNOGTECVQ GCRGUCTGPQPUQPQUQNQNGRKEEQNGFKOGPUKQPKC\KGPFCNKC RGUCTGpUQRTCVVWVVQN¶CU¿UUKCPVGDWTQETC\KCEQPKEQPUGIWGPVK EQUVKIGUVKQPCNKCIIKWPVKXK5KKORQPGWPCTCFKECNGTGXKUKQPG FGNUKUVGOCRTQFWVVKXQKVCNKCPQ 2'5%# #PEQTCKPECNQNCÀQVVCRGUEJGTGEEKCXGPGVC OCKSWCPVKVC VKXKRTQFQVVKPGKRTKOKUGKOGUKFGNFCNNCRGUECOCTKVVKOCUQPQ UVKOCVKKPCWOGPVQFGN +/24'5''1%%72#6+ +N TCRRQTVQ UGIPCNC CPEQTC KP ECNQ KN PWOGTQ FK KORTGUG CITKEQNG KUETKVVGCNNG%COGTGFK%QOOGTEKQFGN8GPGVQUEGUQCWPK ViEQPWPCÀGUUKQPGFGNPGKRTKOKPQXGOGUKFGNTKURGV VQ CNNQ UVGUUQ RGTKQFQ FGN +P PQVGXQNG TKFW\KQPG CPEJG INK QEEWRCVKKPCITKEQNVWTCUEGUKPGKRTKOKVTGVTKOGUVTKFGNCEKTEC WPKVi KPVGTGUUCPFQKPOCIIKQTGOKUWTCKNCXQTCVQTK KPFKRGPFGPVK TKURGVVQCSWGNNGFKRGPFGPVK +P¿PGUKTGIKUVTCWPPWQXQFG¿EKVFGNNCDKNCPEKCEQOOGTEKCNGXGPGVC FGK RTQFQVVK CITQCNKOGPVCTK TGNCVKXC CN VGT\Q VTKOGUVTG EJG UK UVKOC KP CWOGPVQ FGN TKURGVVQ CNNQ UVGUUQ RGTKQFQ FGN EJGRCUUCFCCOKNKQPKFKGWTQWPTKUWNVCVQFQXWVQ C WP CWOGPVQ FGNNG KORQTVC\KQPK RK~ EJG RTQRQT\KQPCNG TKURGVVQCNNCETGUEKVCFGNNGGURQTVC\KQPK 4KOCPGKPXGEGKPXCTKCVQKNPWOGTQFGNNGKORTGUGCVVKXGPGNN¶KPFWUVTKC CNKOGPVCTG )* Il Patronato Enapa (Ente nazionale assistenza patrocinio agricoltori), istituito dalla Confederazione generale dell'agricoltura italiana nel 1992, è al servizio gratuito degli agricoltori, dei coltivatori diretti e di tutti i cittadini per l'assistenza gratuita nel campo sociale, previdenziale e sanitario. Il Patronato fornisce consulenza, informazione e assistenza secondo quanto previsto dalla legge 152/2001. Tutti gli agricoltori e i cittadini possono rivolgersi al Patronato Enapa per lo svolgimento di pratiche in materia di: previdenza Inps, Inpdap, calcolo pensione, trasmissione telematica domande di pensione Inps, connessione telematica banca dati enti previdenziali ed assistenziali, disoccupazione, cure termali, indennità maternità lavoratrici autonome, invalidità civile, attività diverse di informazione sostegno e assistenza in campo socio sanitario, assistenza Inail. Sedi provinciali in Veneto BELLUNO - Via Zuppani 5 - 32100. Tel. 0437/943196 Fax 0437/942172 Email: [email protected] - Responsabile: Giorgia Fant PADOVA - ALBIGNASEGO - Strada Battaglia 71/c - 35020. Tel. 049/8223562 Fax 049/8223526 Email: [email protected] - Responsabile: Piercarlo Cavinato ROVIGO - Piazza Duomo 2 - 45100 Tel. e Fax 0425/204422-425 Email: [email protected] - [email protected] - Email PEC [email protected] - Responsabile: Paola Zerbinati TREVISO - CASTAGNOLE DI PAESE - Via Feltrina 56/b - 31038. Tel. 0422/592080 Fax 0422/410168 Email: [email protected] - Responsabile: Gianfranco Simion VENEZIA - MESTRE - Via C. Monteverdi 15 – 30174. Tel. 041/950919 Fax: 041/958398 Email: [email protected] - Responsabile: Daniela Meneghello VICENZA - Viale Trento 197 - 36100. Tel. 0444/288588 Fax 0444/288351 Email: [email protected] - Responsabile: Eleonora Toniolo VERONA - Viale Del Lavoro 52 - 37135 Tel. 045/8628850 - Fax 045/8202999 Email: [email protected] - Responsabile: Carla De Berti. Addetti: Francesca Avesani, Maria Teresa Sartori Un servizio promosso dalla Confagricoltura ENAP
© Copyright 2024 Paperzz