hrtes chule - Streifband

NR. 13
2008
ZEITSCHRIFT FÜR AUSZUBILDENDE IN VERLAG UND BUCHHANDEL
PROJEKT DES STUDIENGANGES VERLAGSHERSTELLUNG DER HTWK LEIPZIG
„
.
.
.
.
.
.
.
.
.
...
.
„
..
..
„„
„
KOSTENFREI
13
STREIFBAND.PRINT
„.
I
...
••
••
„ ••
••
..
..
· .
· .
.
·· ...
,
Der Blick über den Tellerrand
-
die Buchbranche weltweit
DIE BUCHPREISBINDUNG I INTERNATIONALE KOOPERATIONEN I STUDIUM UND
PR AKTIKUM EUROPAWEIT 1 ENTWICKLUNGSTRENDS AUF DEM HÖRBUCHMARKT
NR. 13
2008
I
KOSTENFREI
"'(**,"2
Neues und Bewährtes
vom Verlag Beruf und Schule
Informationen verbreiten -
Bei www.vbus.de gibt 's die Details zu:
Medien gestalten und herstellen
Bedruckstoff und Farbe
Berufsfeld Druck und Medien ausführlich,
Lern- und Nachschlagebuch für Druckfachleute
neuester Stand, 4. Auflage, Juni 2008
Jochem Ottersbach, 4.Aufl.,200S, 192Seiten BS,
Ulrich Paasch und Autorenteam,
ca. SSO Seiten BS, ca. 4SO Abbildungen,
Hardcover, ISBN 978-3-88013-670-0, 29€
Übungsbuch
Informationen verbreiten
Ulrich Paasch u. a„ ca.174 Seiten BS,
136 Abb„ ISBN 978-3-88013-671-7, 19€
Grundlagen
ZEITSCHRIFT FÜR AUSZUBILDENDE IN VERLAG UND BUCHHANDEL
PROJEKT DES STUDIENGANGES VERLAGSHERSTELLUNG DER HTWK LEIPZIG
„
148 Abb.,Hardcover, ISBN 978-3-88013-62S-O, 16€
Farbe in Druck und Medien von Ulrich Paasch
104Seiten A4, 2001, 978-3-88013-612-0, 18€
Staffelpreis: Ab 10 Stück nur 14€ je Exemplar
.
.
.
.
Fachlexikon Druck und Medien
Nahezu 10 000Stichwörter und 313 Websites
13
STREIFBAND.PRINT
.
.
.
.
.
...
.
„
..
„.
..
„„
„
...
••
••
„ ••
••
..
..
· .
· .
.
·· ...
H.-J.Halkasch,440Seiten AS, Paperback, 200S,
ISBN 978-3-88013-641-0, 19€
Fachwörter-ABC
Druck-und Digitalmedien (Print) von Golpon
192Seiten 12,S x 1Sem,978-3-88013-638-0, 10€
&
%&
Lexikon des Offsetdrucks
von Walenski
Lehr- und Arbeitsbuc,
h in 6. Auflage, 2007.
352Seiten AS, 1993, ISBN 978-3-88013-469-0, 12€*
der Print- und Digitalmedien
Team Aull, Bühler, Huth, Westlinning,
396 Seiten A4, viele Abb„ teils 4-farbig,
$& ISBN 978-3-88013-S72-7,
&
208Seiten AS, 2000,
20€
Lexikon Buchbinderische Verarbeitung
ISBN 978-3-88013-66S-6, 39€
&
"&
#&
LOGO Einführung
in das
Grafik-Design
vonSiegle
4„200S, 192S„ 14 x 22 cm, 978-3-88013-6S2-6, 19€
/28A;284_FCH4N4EV_ ?A4;E4_'4C<E/J7JPHH4E_ HJF>4?NFJ;4EN<4JN4K_
Basiswissen Mediengestaltung
J14<N4E_PE3_7PN4_FEN/?N4_VPJ_,;JNK28/6N_
3/K_ 'NP3;PC_34J_
Arbeitsblätter, auch für Selbstunterricht
Grundlagen der Typografie von Bergner
232S. BS, 1990, 978-3-88013-39S-2 (Leipzig), 12€*
G. Görlitz, A. Mühlegg
Team C. Bischoff,!43;4E_<KN_/NNJ/?N;R_PE3_
+4JA/7K84JKN4AAPE7_/C_/2814J4;28_
Gebrochene Schriften von Rehse
84 Seiten
A4, viele Bilder, 2008, kartoniert,
VP?PE6NKFJ<4EN;4JN_ <4_
48J;E8/AN4_R4J?E^H6N4E_NJ/3;N;FE4AA4_PE3_
240Seiten AS, 2000, 978-3-88013-S63-S, 18€
ISBN 978-3-88013-668-7, ca. 9€
CF34JE4_ !43<4E_ 4JRFJJ/74E3_ /PK74KN/NN4N4_ /1FJ4_PE3_
4C-DTP-BasiswissenVorstufe von Belling
160S. 17 x 24 cm,2001,978-3-88013-SS0-2, 13€*
ABC der Mediengestaltung
CFN<R;4JN4_ B48J4E34_4JS/JN4E_
';4_/C_PN4E14J7_HA/NV_
Top-fit in die Prüfung, 6.Auflage
Lehr-und Arbeitsbuch Druck von Aull
Möchten Sie ausführlicher
?.Auflage, 2004,432S.A4, 978-3-88013-640-3, Sl €
Das Grundwissen für Mediengestalter in
&&&
&&
!&
informiert werden?
Verlag Beruf und Schule
Postfach 2008, 2SS10 Itzehoe
Telefax: (0 48 21) 49 41
E-Mail: [email protected]
Frage und Antwort, leicht verständlich.
Lehr-und Arbeitsbuch für Offsetdrucker
Sabine Butzhammer, 288 Seiten AS,
Rausendorff,744Seit.A4, 978- 3-88013-970-1, 48€
teils 4-farbig, 6. Auflage, 2007, 17€,
Messen und Prüfen von Rausendorff/Starke
ab 10 Stück 14€, ISBN 978-3-88013-661-8
94Seiten A4, 2004, ISBN 978-3-88013-633-S, 12€
Prüfungstraining Mediengestaltung
Detaillierte Infos zu allen Büchern,
Aufgaben in Art der Abschlussprüfung,
Newsletter, Verlagsverzeichnis,
Tipps zur cleveren Prüfungsvorbereitung.
Digitales Drucken von Rausendorff/Starke
1S2Seiten A4, 2002, 978-3-88013-624-3, 18/14 €
Das Pa pierBuch Bearbeiter(in) für Neuauflage
gesucht. Begehrtes Buch, das leider vergriffen ist.
1 nfos zur Prüfungsvorbereitung,
Ulrich Paasch, 2„ aktualisierte, erweiterte
preisgünstige Angebote bei:
Falz-und Ausschießpraxis vonHalkasch
Auflage, 2008, 176 Seiten A4, 67 Abb„ alle
336Seiten AS, 1994, 978-3-88013-4S8-4, 1S€*
www.vbus.de
Lösungen, ISBN 978-3-88013-662-S, 17€
Der Verlag liefert nur über den Buch­
handel, nicht direkt an Endkunden.
Unsere Schulbücher sind im VLB gelistet,
jedoch nicht beim Barsortiment.
Buchhandlungen wenden sich an:
VVA arvato media GmbH, Gütersloh,
WiSo-Training
Aufgaben in Art der Prüfungen, wie in
den Druck- und Medienberufen üblich .
Industrielle Buchbinderei von Liebau/Heinze
778Seiten BS,2.Auflage,978-3-88013-S96-3, 39€
Mathe Buchbinder von I ngoHerkert
Rechenbuch mit Download aller Lösungen von
www.pdf-site.de, 188Seiten AS, 2. Auflage, 2008,
Tipps zur Prüfungsvorbereitung.
ISBN 978-3-88013-6S8-8, 15 €
PDF-Probeseiten bei www.pdf-site.de
MatheMedien von Ulrich Paasch
4.Auflage, 2004, 383S.AS, 978-3-88013-646-S, 2S€
Autorenteam, 182 Seiten A4, Erklärungen,
in der Schweiz an: STV/AST, St.Gallen,
2 <KN_ 4;E_ %JF>4?N_ 34K_ 'NP3<4E7/E7K_
+4JA/7K84JKN4AAPE7_
/E_ 34J_ (,_
,4<N4J4_ E6FJC/N;FE4E_
8<4JVP_
K<E3_ PEN4J_
Aufgabensammlung
von Golpon/
Paasch
Lösungen,
ISBN 978-3-88013-667-0,
17€ 4<HV;7_
Fon 0712776067, Fax 0712776079
244Seiten AS, 2000, 978-3-88013-S90-1, 17/ 14€
SSSKNJ4;61/E334_PE3_SSSR4JA/7K84JKN4AAPE7
34_VP_6;E34E
_
Prüfungswissen Drucktechnik
Buchbestellung im Internet:
Fachbezogene Mathematik für die Berufe
(Druckerwissen) Lern- und Prüfungsbuch
der Medienvorstufe vonHans JürgenScheper
Zum Erfolg führt nur die Suche in der
(-*(2
F28K28PA4_
6^J_ (428E;?_ ,;JNK28/6N_
PE3_ und
PANPJ_
4<HV<7_ ._ im
'NP3<4E7/E7_
+4JA/7K84JKN4AAPE7_
PN4E14J7HA/NV_
6.Aufl.,
2004, 240Seiten AS,9783-88013-644-1, 18
€
für Drucker
Mediengestalter
Print­
VLB-Datenbank,
die alle lieferbaren
K_ <KN_S<434J_ KFS4;N_ 'NJ4;61/E3_ KN48N_6^J_4P28_14J4;N_ E_3<4X
K4C_/8J_KN48N_34J_ ZA<2?_^14J_34E_ (4AA4JJ/E3W_ ;C_ !<NN4AHPE?N
_,;J_
14K28\6N<74E_ PEK_ C<N_ 34C_ (84C/_ ZP281J/E284_ S4ANS4;NW_ /14<_
?]EEN_ <8J_ R<4A_ ,<KK4EKS4JN4K_ ^14J_ /PKA\E3<K284_ P28C\J?N4_ KF_
14;KH;4AKS4;K4_ ;E_ E3<4E_ PE3_ %4JP_ 4J6/8J4E_P28_ 'NP34EN4E_ 3;4_
deutschsprachigen
Buchtitel
enthält:
1S41 Fragen/Antworten.
4;HV;7_ (4A46FE_
PE3_ /T_
bereich,
KNJ4<61/E37CT34_
SSSKNJ4<61/E334_
)&+!+)2
'N4664E_
\H4AN_ !<28/4A_
Mathe Drucker
von Jochem
Ottersbach
4;E4E_P64EN8/AN_/P[4J8/A1_RFE_ 4PNK28A/E3_/1KFAR;4JN_8/14E_14Y
192Seiten AS,2.,2002, 978-3-88013-619-9, 1S€
www.buchhandel.de
anklicken,
ins
H. J. Scheper,
480 Seiten
AS,ca.
160 Abb„
)]I5AN_
+%#2 0JFA<E_
$JA0C^E35J_
!0EP5A0_
QNL29@5_
0%.+
+1
2 "0EQ5A0_ QNL28?5_ 0JGA;E_ $JA0D^E34J_ E3J50_
Feld „Verlag" beruf+schule eingeben,
Dez. 200S, ISBN 978-3-88013-623-6, 19€
Medienwissen - Prüfungshilfen von Golpon
4<3J;28_ EE;?/_ ]E<E7_ )*+ ,$'&#*&)#2 /E/_ ]JK3FJ6_ )+)2 EE;?/_ ]E;E7_ !;28/4A_ (]H4AN_ #1#2 !;28/4A_
420S.AS, 3.Aufl.,2003, 978-3-88013-632-8, 14€*
Buch imVerlagsprogramm auswählen,
(]H4AN_ 'N4664E_ \H4AN_ #!#2 'N4664E_ \H4AN_
),2
&F74J_ (JF?K_ (,_ 4;HV;7_ +(/((+,#2 (_ FAFJ3JP2?_ C1_
Formeln
für Mediengestalter(innen)
in den Warenkorb legen und eine Ihnen
Kosten-und Leistungsrechnung von Gairing
mit den
4<HV<7_
'
)2 4PNK284_beauftragen.
%/H;4J_ +4JNJ;41K_FormelC1_und
,;J_Beispielsammlung
3/E?4E_ 'NFJ/_ EKF_
'/28K4E_ 3C1_
6^J_
3;4_ *EN4JKN^NVPE7_
)-' ++$2
genehme
Buchhandlung
Bände mit
insgesamt
1100Seiten AS einschließlich
Lösungswegen (Digital und Print)
Lösungshefte,
978-3-88013-902-2,
F3/?_ %FAU28JFC4_ J/6;2K_ C1_ - 2
F8/EE4K_
P28C/EE_
PA;/E/_72€
FENJ4J/M_
T4CHA/J4_ 0&,+%#1'+2 aller
Ulrich Paasch, 64 Seiten AS, kartoniert,
www.heitere-poetik
.de
Spaßsonettkalender,
Euro-Preise
mit
deutscher
Mehrwertsteuer
/JNCPN_ <28NE4J_ !/NN</K_ '28PAV_ #2 ,;J_ 143/E?4E_ PEK_ 14<_ /AA4E_ PNFJ;EE4E_ PE3_ PNFJ4E_ /AA4E_ 'HFEKFJ4E_ KFS;4_ 6^J_
Babygeschichten, Weberotericks, Total versext
*Unverbindlich empfohlener Preis
2008, ISBN 978-3-88013-6S7-1, ca. 8€
3;4_ N428E<K284_ PE3_ <E8/ANA;284_ *EN4JKN^NVPE7_ 14;_ %JF6_ J_ (8FC/K_ 4[_ <HAE7_ ._ ,;EE<4_ -/7JF3E;?_ J_ A/PK_ ,FA6_
J=28N5E_RGE_ R=5A5E_=EN5J5KK0EN5E_ J608JPE74E_ #0O^JA=28_ ?GCCO_
;HAE7_ ._ <4NC/J_ JFH6_ ;HAE7
_ (8FC/K_ '28PAV4_ <HAE7_ 4;?F_ (4EE4JN_ &F74J_ (JF?K_ <HAJ/6;?34K<7E4J_ J/E?_ <A4E14J74J_
Der Blick über den Tellerrand
-
/P28_3/K_ Z/28S;KK4EW_ E;28N_VP_?PJV_ 34EE_^14J_3;4_74K28;28NA<284_
ENS<2?APE7_ 34J_ P28HJ4;K1;E3PE7_ KFS;4_ 34J4E_ +4J1J4;NPE7_ <C_
die Buchbranche weltweit
34PNK28KHJ/2:;74E_ &/PC_ S4J34N_ ;8J_ 4<E;74K_ R4JE48C4E
_ ,4;X
N4J8;E_ 4J6/8JN_;8J_;E_3;4K4C_ 46N_EN4J4KK/EN4K_^14J_ ]J1^284J_ PE3_
K4A1KNR4JKN\E3A;28_?]EEN_;8J_/P28_J\NK4AE_PE3_ 4P28_ ^14J_ +4J/EKN/AX
NPE74E_;E6FJC;4J4E_ S4A284_;C_/8J_ KN/NN6;E34E_ AKF_3/EE_
KOOPERATIONEN I STUDIUM
UND
DIE BUCHPREISBINDUNG I INTERNATIONALE
R;4A_ 'H/[_14;C_'28C]?4JE_
2+&#2
PR AKTIKUM EUROPAWEIT 1 ENTWICKLUNGSTRENDS AUF DEM HÖRBUCHMARKT
%,
),
*%8 /2%5<5= *=
%($ ()= 72$=
+ ")5&A
( ,
+ 2%&67"(A
!'2)#2 "
#'2
*4,
"&4 (4
%*/&$=%(( = + &#85767"(A
2 ' "#'2 2
'$#2# ""'2
#.4 2(4
*4,
/(=.&5;9 #= + &#85767"(A
% #!% $% % % % % % %
!!!%"%%%
*4 ,
+ &#85767"(A
$#$"2'$#"2$
"%'"22'#2 %(4%((4
7,("= % 2 (=
!%#%%
'
"0"$2 0"#*
"%2 2,''$2
#20"'
#2 **(41**4
*44
!"%"*&,
2"%2 1"2 , 2 #
"2
')*$4 04
*4 4
#+2 '$
$2
$2 ##
*&#4 1#&4
*4,
'2
##$2$21##2 ##!4
!%*&4
%.;%#!/= 7$) 22 =
*4,
+#*6A +
"2222
2'2
21##
2(2
"2
"
2 #*%#4 *% 4
(,*=7= %8/ =
,(,#*=$%(/!*2= ,,'= %/=
+#*6A
+
7(= 7).7/= *5 /*5%-+(= ,,'= %/=
+#*6A
+
,*,*= ,,'= %/=
+#*6A
+
"/&A
)',)&55'&!&5/'&5 .$)
,5 .&5
/'&5 .) ,5 $5 $'&-&5 )&,2
1&5 4)55 )&5
*#+ 75"=&A
'$55 +553)15
5+&50)5.5)5
(1)5 .$++54)555
.&+5&5 !#55 5.&55
5
81%A&&5
57A
'5 %"5 )&5
*4
/ %525#7*#= /= /25 ((7*#2( %5 /=
(55#= 2= 7$ 2=
+
%.;&# /=:.,# =
+
,
+#*6A
+*/A ,267&5A -56&&A
2-
2.$2 "2 ",2*
2
7/,.<%2$ =%* / 7*=7# *7$) 22 =
:.,= /(%*=
#4 ,#4 *44
+#*6A
+*1A ""5#5?$+&1A
#4 2*/(4 *4 ,
+#*6A
+ + 17&51"7*21",&A &6*(1+21'&5&1<A
*
2
"2
2"
#
2$'$2
"$'2 2#*#
2 #4 -!#&4
:+B +B
*4,
+#*6A
+*1A "5*6A
/%*5= %= 22 =/7.=
+44
+#*6A +*1A @66&.%25'A
&4 *4 ,
+#*6A
+*1A &5,*1A
'2#2#$'
"
2 22 *!#4 &3&4
*5*.&5.&+5.5 )&5 +.5
"*,A
&!.
5 B ( B
'B,+
/4 3$
+
4
-B (B .B
&"/4 7$$<*( /6# =
(B
,/7)=:.,#0"% =/ ) *=
5- 65(-B
$ (4 4
(*$4
,(2B'B %" ($4
'$1-3)*
B
'#/4
1<"),A %&5A ;&/3,"5&A
/%0/4
#/B :+B (B !
,*#= ,*#= ,,'= %/=
5&6 -%B
,35./%*5= /(&*=
*&5/*7A/&,%&A*$)A /*$)A '?5A &*1A %&$ "()+ "1A
17&56$)5*'7A
+#*6A +
!$'#,
+#*6A +
"/&#
2
*4 ,
+#*6A +
'
# "
'2
*4 ,
+#*6A +
/*'"7/5 1= 7$) 22 =
&11A *)5A %'$ "+ "8$)A<8+@1'7*(A,&6&1A:2,,7A%"11A 6$)*$+7A %&1A 2#&1A67&)&1%&1A 28321A "86(&'@,,7A "1A 816A<85?$+A 2%&5A 6$)5&*#7A816A
&*1&A "*,A
*5A 6&1%&1A&8$)A(&51A+267&1,26A %*&A1>$)67&A 86("#&A921A%&$!"+<8A
*2 / = / 22 =
&%"+7*21A 75&*'#"1%A 2$)6$)8,&A '?5A &$)1*+A
*576$)"'7A 81%A
87&1#&5(3."7<A+ + &*3<*(A 675&*'#"1%(/;%&:::675&*'#"1%%&A
$ (2 = ,,'= %/=
8,785A
&*3<*(A !A
"$)#&5&*$)A
'/2 '2 )
"#%$'2 *4 ,
+#*6A +*1A 21%21A !
17*48"5*"760&66&A
&%*&1A
/.'7*#= 45=
"
##'2 *4 ,
+
+#*6A
+*1A 5&6%&1A
&(5,">
!'
&(5,">
!'
) '!)
%1; 3&**9.',(0*%31;
) )
;
)) )
%6'(0;
(11(0;
3.'; (0.'/0);
5(..;(0;.+&*2;):0; 8$%2/027;
"!) ) !&!)
)
) %
! #!$)
4/0;'(0; %-(0%;12(*2;
+(2-%0; 90;
7LUv‹ ; )AQnLe‹PUEv‹Ls‹ILe‹OLsvLe‹ +AILelnLUs‹Ua‹ILwvsFQLe‹wFQQAeIL[‹
ŠFQLn‹QAELe‹OLsvL‹3nLUsL‹/UFQv‹ewn‹Ue‹LwvsFQ[AeI‹7LUv‹{Aee‹ =Anwa‹ =UL‹\AePL‹ejFQ‹
;UGHRmP?Rm ?[AGmGjXZmYHCm YHRBmRIAGZmPCGXm a[m l@CXGjXCSm 1@m 5AG?[YVICOCXm ^HCm 1ZZUm 5?RBCXm*?Rm*UYCEm -JCECXYm.UXHZam OCH@ZXC[m UBCXm FXUhCm
% ' {An‹sUL‹yje‹eOAeP‹Ae‹ wasvnUvvLe‹Usv‹sUL‹ EUs‹ QLwvL‹ Ue‹ +LUl~UP‹ 7jnvUaLevLnyLnLUeL‹ wa‹ *weILenAEAvvL‹ ~w‹ wevLnEUe
,URaCXRCm ^JCmCXZCOYP?RRm[RBm#HYAGCXm ?OOCm^UOOCRmPJZP?AGCRm ,CHRm ;[SBCXmBCSRmYUOAGmGUGCm <[^?AGYX?ZCRmG?ZmM?[PmCHRCmX?SAGCma[m
ILe‹ jFQ‹ PLPLe‹ Ae‹ UnLZvyLnZ†wOLe‹ UevLnLssULnvL‹ <Ln`APL‹ weI‹
wePL{Uss‹ E[LUEv‹ UQnL‹ ?wZweOv‹ UL‹ wFQlnLUsEUeIweP‹ LnQUv~vL‹
]CXaCIAGRCRm ICm4CBCmIYZm ]UQm &kX@[AGYCMZUXmCIRCPmBCXm =[FVECXBCm IPm BC[ZYAGCRm[AGG?SBCOm BCXm ]CXF?RFCRCRm+?GXCm=[Xm !JRYAGiZa[RFm
3nLUsIwalUeP‹ ELvnLUELeIL‹ <LnsAeIQ†eI[Ln‹ ZjeevLe‹ sUFQ‹ IUL‹ wevLn‹
IUL‹ "LaŠvLn‹ [AePL‹ ELyjn‹ weI‹ [AePL‹ eAFQILa‹ sUL‹ LUePLOŠQnv‹ {wn€
BCYm .?XMZCYm [RBmBCXm <[M[REZY?[YYHAGZCRmG?@CRm^HXm [RYm PHZm &CHMCm:jOMCX5HC@CXm ]UPmX?RAGCRVXHP[Ym 0> <06 0)">[RZCXG?OZCRm
:asAv~yLn[wsvLe‹ [LUILeILe‹ 7jnvUaLevLn‹ eUFQv‹ IwnFQsLv~Le‹ nsv‹
IL‹ ULs‹ Q†ePv‹ ~wsAaaLe‹ aUv‹ ILa‹ EwFQQ†eI[LnUsFQLe‹ 7L[Esv€
yLnsv†eIeUs‹ Ua‹ 7lAeewePsOL[I‹ yje‹ *w[vwn‹ weI‹ *jaaLn~‹ Ln‹
Ym YHRBm =?GOCRm BHCm 8RZCXSCGPCXm ISm BCXm &jX@[AG@X?SAGCm ZXi[c
wFQQAeIL[sQUsvjnUZLn‹ "j[IOnULInUFQ‹ ELaLnZv‹ IAss‹ aUv‹ „ELnPAeP‹
PCRm O?YYCRm OOCHSm m 2XUaCRZm =[^?AGYm HSm BCRm CXYZCSm BXCHm
yja‹ 9AwsFQQAeIL[‹ ~wn‹ "L[I{UnvsFQAOv‹ Aa‹ eIL‹ ILs‹ ; )Q‹ LUe‹
3[?XZ?OCRm m B?Ym ;CHGS?AGZYFCYAGiEZm B?Ym a^HYAGCRm m [SBm
‚=UILnsvnLUv‹ ~{UsFQLe‹ A[]PLaLUeLe‹ ZAwOa†eeUsFQLe‹ weI‹ ELsje€
m 2XUaCRZm BCYm *?GXCY[PY?ZaCYm ?[YP?AGZm HYZm GHCXm SUAGm F?Xm SHAGZm
ILnLe‹ EwFQQ†eI[LnUsFQLe‹ #AeIL[sPnweIs†v~Le‹ LUesLv~vL‹ UL
@CXlANYHAGZJFZm R?O`YZCSm FCGCSm ]USm CHSCPm 9QY?Zam ]URm [SFCEiGXm
sLn‹=UILnsvnLUv‹slUv~vL‹sUFQ‹~w‹A[s‹UeOj[PL‹ILn‹ 'eIwsvnUA[UsULnweP‹ILn‹
m .HOOIURCRm ![XUm ElXm m ?[Ym 5AGiZa[RFCSm CX^?XZCSm CISCm 5ZCHc
wFQlnjIwZvUje‹Ua‹ ; )Q‹ slLZw[AvUyL‹.AssLeAwO[APLe‹ILe‹wFQ
FCX[RFm ]USm @IYm a[m m 2XUaCRZm @HYm m ,CHSm ;[SBCXm ?OYUm B?YYm
aAnZv‹ LELesj‹ ŠELnsFQ{LaavLe‹ {UL‹ eAFQ‹ UeOŠQnweP‹ ILn‹ "L{Ln€
]HCOCm :CXO?FCm YHAGm ?[Em BCPm &jX@[AGP?XMZm CJSm a^CHZCYm 5Z?RB@CHRm
ELOnLUQLUv‹ sjP‹ ‚wFQwFQQAeI[wePLe‹IUL‹ YLILnaAee‹ LnˆOOeLe‹
?[E@?\CRm 5AGUSm QCGXm ?OYm m R@HCZCXm B?]URm ]HCOCm ?[AGm ?OYm XCHSCm
ZjeevL‹ jQeL‹ LUeL‹ ELnwO[UFQL‹ 5wA[UOUZAvUje‹ yjn{LUsLe‹ ~w‹ aŠssLe‹
&jX@[AG]CXO?FCm Z[QPCOSm YIAGm PHZZOCX^CHOCm ?Qm .?XMZm OOCXBHSFYm
Ue‹ OŠn‹ ILe‹ vnAIUvUjeL[[Le‹ 7jnvUaLevsEwFQQAeIL[‹ nwUeˆsLn‹ 3nLUs€
YHRBm CZOHAGCm B?]USm MOCJSCm "IS.?RS9SZCXRCGQCSm BHCm S[Xm ^CRHFCm
ZAalO‹ {An‹ IUL‹ !j\PL‹ Ln‹ LELeOA[[s‹ eIL‹ ILs‹ ; )Q‹ LevsvAeILeL‹
6JZCOm HPm 4CVCXZUHXCm G?@CSm UBCXm 0HYAGCSm HSm BCXm 0?AGEX?FCm @CBICSCRm
@LalOjQ[LeL‹ ,AILelnLUs‹{wnIL‹UaaLn‹sL[vLeLn‹LUePLQA[vLe‹7FQje‹
ICm <?GOm BCXm 5AG^CXFC^HAGZCmHRm BCXm X?RAGCm l@CXYAGXCHZCZmB?Ym [Zc
ILn‹ ELnŠQavL‹ *[AssUZLnyLn]LPLn‹ "LjnP‹ )jAFQUa‹ "ˆsFQLe‹ AELn‹sAQ‹
aCSBm RIAGZm B?X[SZCXm EHSBCRm YIAGm ?OOCXBHSFYm @CM?RSZCm 0?PCSm ^ICm
; Ue‹ *weILenAEAvvLe‹ ‚LUeL‹ wesUeeUPL‹ 7FQ[LwILnL}‹ ‹{LU[‹ ILn‹
BHCm $HYAGCX7UAGZCXm 0"., 0("> 5&.5$> 0> 5&. 0(">
wFQQ†eI[Ln‹IAIwnFQ‹Ua‹$AeIL[‹yLn[ULnv‹ {As‹Ln‹A[s‹ !AEnUZAev‹jILn‹
*> 0> <06 0("> &$.0,> &.> 8, > <05$> 0(">
<Ln[LPLn‹ PL{Ueev‹ ‹ weI‹IAs‹4wE[UZwa‹‹ewn‹ ejFQ‹ Ae‹ {LeUPLe‹ 1n
.!!+,,>5,>+/ > = >5&.>YU^JCmBHCmCXZCOYP?RS6UAGZCXm
vLe‹ {jQ[yLnsjnPvL‹ wFQQAeI[wePLe‹ OVeJLv‹ ; OjnJLnvL‹ LUe‹
,.+> .51 >5&.>
LnsvaA[s‹ yjnPLsFQ[APLeLn‹ ‚<LnvnAP‹ ILn‹ wFQQ†eI[Ln‹ ŠELn‹ LUeUPL‹
.,> 0> ( &3 0,$ > 95+> +139+.3.0> "Ym HYZm YAGUSm CHSm ^Cc
"LPLesv†eIL‹ UQnLs‹ #AeIL[s‹ IUL‹ EsFQAOOweP‹ ILs‹ *weILenAEAvvs‹
SHFm l@CXX?YAGCSBm ^COAGCm !RZ^HAMO[RFm BCXm &jX@[AGP?XMZm PHZc
; )AQnL‹sl†vLn‹ yLn[AePvL‹ !nULInUFQ‹ 3LnvQLs‹ Ue‹ sLUeLn‹ 7FQnUOv‹ ‚Ln‹
FCP?AGZm G?Zm 0?AGm BCPm <^CIZCSm ;COZMXHCFm ^?Xm BHCm 531$ >
ILwvsFQL‹wFQQAeIL[‹A[s‹LIUePweP‹ILs‹AsL}es‹LUeLn‹ ILwvsFQLe‹
0++./$.,> BHCm CXYZCm #HXP?m ^COAGCm &jX@lAGCXm GCX?[Y@X?AGZCm
+UvLnAvwn‹ IUL‹ ‚P[LUFQa†…UPL‹ #A[vweP‹ ILn‹ !AEnUZ4nLUsL‹ yjesLU
UAGm BHCm HSm <[Y?QPCS?X@CHZm PIZm BCQm 5$3 0$,> 0("> [RBm BCXm
vLe‹ ILn‹ <LnZ†wOLn‹ IwnFQ‹ A[[L‹ ,†eILn‹ nOj[P[js‹ AnAwOQUe‹ EU[IL€
> GCX?[YFC@X?AGZCSm &jX@[AGXCHGCRm YAGCHZCXZCSm FCS?[YUm ^HCm BICm
vLe‹ sUFQ‹ AE‹ ; eLELe‹ ILa‹ sLUv‹ ; ELsvLQLeILe‹ ˆnsLeyLnLUe‹
A[s‹ eAFQ‹ ILn‹ 6LUFQsLUeUPweP‹ ; IUL‹ LUeQLUv\UFQL‹ =†QnweP‹ LUeL‹
:CXY[AGCm ]USm ( 43.33> [RBm .7.$(3> CHRCSm .?XMZm a[m @CFXlRBCRm
3nLUsejnaULnweP‹ Ln[LUFQvLnvL‹ ~wP[LUFQ‹ UeQLUvsvAnUOL‹ ILn‹ 3jsv‹ ILe‹
;iGXCRBmBCXm YHC@aHFCXm[RBm?AGZaHFCXm*?GXCm^?XCRmE?YZm?OOCm&jX@[AGc
wFQyLnsAeI‹ weI‹ ILn‹ =UnvsFQAOvs\UELnA\Usaws‹ ILn‹ ‚"nŠeILn~LUv‹
]CXjEECRZOIAG[SFCSm EJS?SaHCOOCm .HYYCXEUOFCm !XYZm PIZm @CYYCXCSm ZCAGc
<LnIn†ePwePs{LvvEL{LnE‹ ELPŠesvUPvL‹{wnIL‹ ILn‹ 6wO‹ eAFQ‹ sj[U
RIYAGCRm :CXE?GXCRm [SBm @YVICOPjFOIAGNCIZCSm @CYURBCXYm S?AGm BCPm
IAnUsFQLe‹ !AUneLssnLPL[e‹Ua‹EwFQQ†eI[LnUsFQLe‹"LsFQ†OvsyLnZLQo‹
[XAG@X[AGm BCXm RE?SFm BCXm SC[RaJFCXm *?GXCm@HOBCZCm YIAGm
[AwvLn‹ ; \LPvL‹ ILn‹ ILwvsFQL‹ 7jnvUaLevLnyLnLUe‹ ILe‹ ev{wnO‹
CISm CXYZm O?RFY?Pm ?@CXm YZCZHFm ^?AGYCRBCXm .?XMZm &CIMCm :jOMCXd
OŠn‹ LUeL‹ "nweIjnIeweP‹ ILs‹ ILwvsFQLe‹ wFQQAeIL\s‹ eAFQ‹ sLUeLf‹
5HC@CXm ]UQm <06 0)"> P?AGZm ElXm B?Ym FXUhCm ;?AGYZ[Pm BCXm ]CXF?Rc
QLnnsFQLeILe‹ n†wFQLe‹yjn‹?{LU‹ )AQnL‹ sl†vLn‹ ELsFQ[jss‹ LUe‹7jn
FCRCRm *?GXCm @CYUSBCXYm BHCm [Y^CIZ[SFm BCXm <ICOFX[VVCSm ]CX?SZc
vUaLevLnvAP‹ Ue‹ UsLeAFQ‹ PLaLUesAaLs‹ <jnPLQLe‹ PLPLe‹ 7FQ[Lw€
^UXZOHAGm e;CHOm ^IXm PCGXm -C[ZCm ?RYVXCAGCRm CXGjGCRm YHAGm [RYCXCm
ILnLU‹ /AFQ[†ssL‹ Ue‹ $ˆQL‹ ILn‹ wFQQ†eI[LnnAEAvvL‹ A[sj‹ EUs‹ ~w‹
5Z?XZ?[EO?FCSm .HZZOCX^CHOCm FCGCRm ^HXm @CHm 0C[CXYAGCHS[SFCRm PHZm
; 3nj~Lev‹ weI‹ aLQn‹ yja‹ LalOjQ[LeLe‹ ,AILelnLUs‹ wevLnPnwELe‹
ElREYZCOOHFCSm [EO?FCRm ?Sm BCSm 5Z?XZbm <[YiZaOIAGm ^CXBCSm BHCm 'jXd
IUL‹ |UsvLe~‹ LUeLs‹ [LUsvwePsO†QUPLe‹ 7jnvUaLevs‹ As‹ ZjeevL‹ IUL‹
@lAGCXm HRm [SZCXYAGHCBOIAGCRm :CXYIURCRm ]CXjEECRZOIAGZm OYm -CY[RFm
<Ln[LPLn‹ eUFQv‹ ZA[v‹ [AssLe‹ {AnLe‹ sUL‹ IjFQ‹ AwOPnweI‹ ILn‹ (eIUyUIw
HRm FCMlXaZCXm :CXYHURm [RBm ?OYm &jXYVHCOm e#XlGCXm ^iXCm BICYm GHRBCXc
A[Uv†v‹ ILn‹ =AnL‹ wFQ‹ AwO‹ LUe‹ IUFQvLs‹ wFQQAeIL[seLv~‹ AePL{UL€
OIAGmFC^CYCSmGC[ZCmMjRRCSm^HXm YUmPCGXCXCm <HCOFX[VVCRm @CBICSCRbm
sLe‹wa‹ UQnL‹ 3njIwZvL‹ Ae~wEULvLe‹ 7LUv‹ ; vnAv‹ ILn‹ 7vwvvPAnvLn‹
YUm :jOMCX5HC@CX
m <[BCPm ^HXBm @CHPm .?XMCZHRFm ?Sm CHRCPm 5ZX?SFm
"nj…yLn[LPLn‹ Ij[O‹ *nˆeLn‹ ˆnsLeyLnLUesyjnsvLQLn‹ ;
FCaUFCRm [AGm [SBm &jX@[AGm CXYAGCHSCRm PHZZOCX^CIOCm HSm ]ICOCRm
weI‹ ; UaaLn‹ {ULILn‹ OŠn‹ LUeL‹ OnLU{U[[UPL‹ UeQA[vweP‹ sjP‹
#iOOCRm E?YZm aCHZFOCHAGm [RBm ^CXBCSm FCPCHSY?Qm WXUPUZCZm [hCXBCPm
2pIUe‡nmpLUsL‹ LVg‹ LsGQ[jssLg‹ {wnJL‹ IULs‹ ~wsAaaLe‹ aUv‹ LVgLp‹
FI@Zm CYm QHZZOCX^CIOCm 5ZUEEm BCXm C_MO[YH]m ?OYm &jX@[AGm CXYAGCHSZm ^HCm
ƒeILnweP‹ ILn‹ ˆnsLeyLnLUessvAvwvLe‹IwnFQ‹ LUeL‹ Aw…LnjnILev[UFQL‹
a[PmCHYVJCOm XCG@[AG:CXZUS[RFCSm
.UvP[ULILnyLnsAaa[weP‹ Aa‹ ; 7LlvLaELn‹ ; IUL‹ *nˆeLn‹ Aws€
?Ym [PY?ZaYZiXMYZCm 2XUB[MZm G?Zm BCXm <06 0(">
& > 0 -2> eAQas{LUsL‹eAFQ‹ !nAeZOwnv‹Aa‹.AUe‹LUeELnwOLe‹QAvvL‹jnv‹ QjOOvL‹
?Pm m *?R[?Xm BHCYCRm *?GXCYm ]CXjEECSZOHAGZm e&?XX`m 2UZZCXm [RBm
Ln‹ AwO‹ LUeL‹ wFQQ†eI[LnaLQnQLUv‹ {LU[‹ IUL‹ PLPeLnUsFQLe‹ Ln[UeLn‹
BHCm &CHOHFZlQCXm BCYm 6UBCYbm e HCm 2UZZCX&jX@lAGCXm @XJRFCSm [RYm
weI‹ -LUl~UPLn‹ <Ln[LPLn‹ {LUvL‹ 6LUsLe‹ sFQLwvLe‹ <LnZŠeILe‹ ZjeevL‹
BCRm PCHYZCSm 8PY?Zabm YAGIOBCXZm :jOMCX5HC@CXm e CYG?O@m HYZm CHRm
*nˆeLn‹ IUL‹ eLwL‹ 7Av~weP‹ Aa‹ *AevAvLsjeevAP‹ ; ELU‹ ILn‹ Ue{LU€
2UZZCX*?GXm CHSm F[ZCYm +?GXm ElXm \RYbm OOCXBHSFYm PlYYCm P?Rm BHCm
QweP‹ILs‹wFQQ†eI[LnQAwsLs‹Ue‹,LUl~UP‹7UL‹aAFQvL‹IUL‹ UeQA[vweP‹
]UPm:CXO?FmECYZFCYCZaZCXm-?BCSVXCHYCm?OOCRm.IZFOJCBY@[AGGiRBOCXSm
#ˆnEŠFQLn‹ wa‹ ILe‹ Z[LUeLe‹ ?AwELn[LQn[UeP‹ ELU‹ ILe‹ =AFQsvwas
a[Xm 2EOIAGZm .HYY?AGZ[RFmMUSRZCm PIZm -HCECXYVCXXCm UBCXm :CXCHRY?[Yd
lnjPejsLe‹ AwsZ[AaaLne‹ 'a‹ )AQn‹ ; QAEL‹ aAe‹ aUv‹ LUeLn‹
YAGO[YYm FC?GRBCZm ^CXBCRm ?PHZm E?SBCRm CYZXC@[RFCSm a[Xm "HRd
3jvvLn/LwLnsFQLUeweP‹ LUeLe‹ ;asAv~‹ yje‹ ; .U[[UjeLe‹ wnj‹
BiQP[RFm BCYm 2XCHYM?PVECYm R?AGm E?YZm CIRCPm *?GXG[RBCXZm HGXCSm
Ln{UnvsFQAOvLv‹ Ua‹ yLnPAePLeLe‹ )AQn‹ jQeL‹ eLwLs‹ 3jvvLn#ˆnEwFQ‹
CXEUOFXCHAGCRm @YAGO[YYm HCm ,XjRCXYAGCm 4CEUXPm CX^CHZCXZCm a[d
LUeLe‹ sFQ†v~wePs{LUsL‹ †Qe[UFQLe‹ :asAv~‹ PLaAFQv‹ {As‹ sjaUv‹
FOCJAGm BHCm <^CAM@CYZHPP[RFm BCYm jXYCR]CXCJRYm ?[Em #CYZYZCOO[RFm
IUL‹ :asAv~svLUPLnwePLe‹ wevLnsvnLUFQv‹ ELn‹ AwFQ‹ AEsLUvs‹ ILn‹
]CX@HRBOHAGCXm%CYAGiEZYRUXPCRmEH_JCXZmHRmCHRCXm 5$%;,( 0&1$ ,>
6j{[UePŠFQLn‹ sj[[Le‹ aAnZAevL‹ 0LwLnsFQLUewePLe‹ ILe‹ :asAv~‹
0' $01.0,5,"> >m 135$$, (1.0,5,#> >mm [RBm
{LUvLn‹ AeZwnEL[e‹ 7j‹ LnsFQLUeLe‹ Ua‹ ^AwOL‹ ILs‹ )AQnLs‹ ELUslUL[s€
5$$;,( 0&1$ ,> 0'5!1.0,5,"> >m 5HCm @IOBCZCSm BCRm
{LUsL‹ <LnvjewePLe‹ yje‹ 7yLe‹ 6LPLeLns‹ ‚#Lnn‹ +LQaAee‹ sj{UL‹
%X[RBYZCIRm ElXm CHSCRm JPPCXm ^HCBCXm a[OCZaZm m ?MZ[?OHYHCXZCSm
=LnZL‹ yje‹ $LeeUeP‹ .AeZL[[‹ /UFZ‹ #jneE}‹ weI‹ aL[UL‹ !nULI‹ UL‹
e9Y?SACRMUBC_bm BCXm ]UPm e2XHSaHVm BCXm PUX?OIYAGCTm :CX?RZ^UXZd
?LUv‹ ILn‹ Pnj…Le‹ %ˆnslUL[L‹ Usv‹ ILn‹ #LnEsv‹ 7j‹ Usv‹ Ua‹ yLnPAePLeLe‹
OHAGMCHZm FCFCSl@CXm BCXm %CY?PZGCHZbm BCYm [AGG?RBDOYm FCZX?FCRm
1ZvjELn‹ ~wa‹ LUslUL[‹ IAs‹ Ue‹ ?wsAaaLeAnELUv‹ aUv‹ ILa‹ $Ls
ElXm ?OOCm.HZFOICBCXm BCYmjXYCR]CXCHRYm]CX@HRBOHAGmIYZm
sUsFQLe‹ weI‹ A}nUsFQLe‹ 6weIOweZ‹ LevsvAeILeL‹ ‚jZvjn‹ !Awsvws‹
+130&43 ,> @OIC@m BJCm 2XCHY@ISB[SFm [RZCXm [AGMi[EDXRm :UXm ?OOCPm
yje‹ 9QjaAs‹ .Aee‹LnsFQULeLe‹
-CGXCXm 2XUECYYUXCSm [RBmH@OHUZGCM?XCm PUAGZCRm CIRCm 4CB[aICX[RFm
! ' $!' !#&' ' =Un‹ eLQaLe‹ AwFQ‹ PLne‹ Lv{As‹
FC^UGRZCXm4?@?ZZCm?[EmGjAGYZCSYm m2XUaCRZmRHAGZmGHRTCGPCRmm
sFQn†PLnL‹ 9UvL\‹ Ues‹ 3njPnAaa‹ wa‹ ~w‹ ~LUPLe‹ {As‹ IAs‹ .LIUwa‹
]CXE?YYZCmBCXm-CHVaJFCXm gMURUPHCVXUECYYUXm ,?XOmlAGCXmJPm[EZX?FCm
#ˆnEwFQ‹ A[]Ls‹ ZAee‹ sAPv‹ <ˆ[ZLn7ULELn‹ A~w‹ PLQˆnLe‹ ~wa‹ LU
BCYm a\Xm @^CGXm BCXm 2XCJY@HRB[RFm FCFXlRBCZCRm M?BCPHYAGCSm
slUL[‹ IUL‹ ‚=wnOsLeIweP‹ PLeAeevLe‹ Zwn~Le‹
UeslUL[Ln‹ yje‹
5AG[Za]CXCHRYm BHCm CRMYAGXHEZm 0> 541$ > 5$$, (> 5,> & >
LwvsFQ[AeInAIUj‹ *w[vwn‹ „ELnnAsFQLeILn{LUsL‹ LnOnLwv‹ sUFQ‹
&11 ,1$!4> ?XHRm MXHZIYHCXZCm CXm .IYYYZiRBCm BICm CXm BCXm ]UPm jXc
eLELe‹ AwLnEnLeeLne‹ {UL‹ !AevAs}%ˆnEŠFQLoe‹ AwFQ‹ Z]AssUsFQL‹
YCR]CXCHRmVXUZCFHCXZCRm-?BCRVXCJY@HRB[RFm?RO?YZCZCmBCSRm e.USUc
AevUZL‹ +UvLnAvwn‹ Pnj…Ln‹ L[ULEvQLUv‹ ‚ULsL‹ Usv‹ yUL[Le‹ *weILe‹
VUOWXCHYCbm@XCPYZCRmBHCm /UBCXRHYHCX[RFmHPmBC[ZYAGCRm[AGG?RBCOm
ELVb‹ &‰pLg‹ sLQn‹ yVL_‹ ~wP‡gP[VFQLp‹ wgJ‹ yLntv‡gJ[VGQLn‹ A_t‹ ELVb‹
HCm #O\Zm ?Rm !RZFCFR\RFCRm CRZXlYZCZCXm :CXOCFCXm [RBm [AGGiRBOCXm
+LsLe‹ LnZ[†nv‹<ˆ[ZLn7ULELn‹
FHRFm ?OYm elAGCX5ZXCHZbm HSm BJCm %CYAGJAGZCm CHRm 0?AGm eNURZX?BHMc
!' !' "; !' ' >†QnLeI‹ IUL‹ .wsUZUeIwsvnUL‹ aUv‹
ZUXHYAGCRm :CXG?RBO[RFCRbm ^[XBCm CXm ]UPm 4CHAGYIRRCSPISHYZCXJ[Pm
sUeZLeILe‹ <LnZAwOs~AQ[Le‹ IwnFQ‹ U]\LPA[L‹ j{e[jAIs‹ ~w‹ Z†al
a[F[RYZCRm BCXm -?BCRVXCHY@HRB[RFm ?[Em ?YHYm EXCH^JOOHFCXm :CXZXiFCm
OLe‹ QAv‹ weI‹ [LPA[L‹ j{e[jAIljnvA[L‹ ILn‹ Z[AssUsFQLe‹ #!;
a^HYAGCSm :CXOCFCXSm [RBm [AGGiRBOCXRm CRZYAGHCBCRm 0?AGm BCPm
ILe‹ 6AeP‹ AE[AwOLe‹ sULQv‹ sUFQ‹ IUL‹ %ˆnEwFQEnAeFQL‹ IwnFQ‹ IULsLs‹
<^CHZCRm ;COZMXJCFm ^[XBCm BHCYCm VXH]?ZXCAGZOIAGCm 4CFCO[RFm B\XAGm
3Q†ejaLe‹ {LeUPLn‹ ELInjQv‹ ‚>Un‹ {j[[vLe‹ eUFQv‹ ILe‹ P[LUFQLe‹
CHRCRm ]URm :CXOCFCXRm [RBm [AGGiSBOCXRm a[m [RZCXYAGXCH@CSBCSm
!LQ[Ln‹ aAFQLe‹ {UL‹ IUL‹ 3[AvvLeUeIwsvnUL‹ weI‹ QAELe‹ OnŠQ~LUvUP‹
5?PPCOXC]CXYm ]CXCHSE?AGZm BCXm @CHm CHRCPm 2XCHY@HRB[RFYZXC[GiRd
wesLn‹ LUPLeLs‹ 1e[UeL3knvA[‹ PLPnŠeILv‹ LnZ[†nv‹ <ˆ]ZLn7ULELn‹
BCXm GHRZCXOCFZm ^\XBCm BCXm ?[AGm BHCm !HRG?OZ[RFm BCXm EXCJ^HOOHFCRm :CXc
IUL‹ 7vnAvLPUL‹ ILs‹ &"' [[LnIUePs‹ aAFQv‹ IULsLs‹ ewn‹
VEOHAGZ[SFm a[m l@CX^?AGCRm G?ZZCm (Rm BCXm .?XMZ^HXZYAG?EZm BCXm [Rd
ZeAll‹ OŠeO‹ 3nj~Lev‹ ILu‹ "LsAavwasAv~Ls‹ Aws‹ UL‹ nZ[†nweP‹
BCYXCV[@OIMm^[XBCm?[YmM[OZ[XVUOHZHYAGCSm %XlRBCRmBCPm[AGG?RBCOm
‚%ˆnEŠFQLn‹ {LnILe‹ jOv‹ zLnsFQLeZv‹ UL‹ *weILe‹ yLnsFQLeZLe‹
HSm m BCYm 1 4: 1> " " ,> 34 7 01 1$0;,'5," ,> FC@[Sc
[ULELn‹ Lv{As‹ #AeIOLsvLs‹ A[s‹ LUeLe‹ j{e[jAI‹ Ue‹ 3njE[La‹ E[LU
a[FCYZ?RBCSm 5CHRm %COZ[RFY@CXCHAGm ^[XBCmS?AGm m
BCRCm
ELe‹ A[[LnIUePs‹ IUL‹ U[[LPA`Le‹ 9AwsFQEˆnsLe‹ PLPLe‹ IUL‹ IUL‹ <Ln[APL‹
?[Em BHCm RC[CRm \RBCYOiSBCXm CX^CHZCXZm &HCXm F?OZCRm@HYm B?GJSm HRm BCXm
nLFQv[UFQ‹ yjnPLQLe‹ [[LqKUePs‹ QAELe‹ IULsL‹ Ua‹ LnLUFQ‹ ILn‹ #ˆn
aCRZX?OCRm 2O?R^IXZYAG?EZm BCXm
4m XCFHCX\RFY?PZOHAGm ECYZFCYCZaZCm
EŠFQLn‹ ejFQ‹ eUFQv‹ IAs‹ wsaA…‹ ILn‹ U[[LPA[Le‹ .wsUZj{e[jAIs‹
)Rm BCRm CXm +?GXCSm ^[XBCm B?Ym
2XCHYCm ElXm ?OOCm ,URY[QFlZCXm
LnnLUFQv‹
?[AGm HRm gYZCXXCIAGm [RBm BCXm 5AG^CIam @C^iGXZCm 2XCHY@HRB[RFYY`Yc
&!' ' ' ' '[]LPA[L‹ j{e[jAIs‹ PL
ZCPm ?RFCEUAGZCRm B[XAGm BHCm ;CZZ@C^CX@YMUPPHYYHURm BCXm ![XUVic
O†QnILe‹ IUL‹ 3njIwZvUjeLh‹ {LU[‹ yje‹ JLe‹ <LnZAwOsLUeeAQaLe‹ eUFQv‹
HYAGCRm 9RHURm BICm LCBCm $UXPm ]URm 2XCIY?@YVX?AGCSm HPm FXCRal@CXd
ewn‹ IUL‹ +U~Le~Le‹ EL~AR]v‹ {LnILe‹ aŠssLe‹ sjeILne‹ AwFQ‹ IUL‹
YAGXCIZCRBCRm ;?XCS]CXMCGXm ?OYm [R]CXCHR@?Xm PHZm BCSm 2XHSaIVICRm
7lnLFQLn‹ {L[FQL‹ jOv‹ ELZBeevL‹ 7FQAwslUL[Ln‹ sUeI‹ 7j‹ sUeI‹ /AaLe‹
;HXZYAG?EZYX?[Pm ?SY?Gm !HSm
BCYm EXCHCRm &?RBCOYm HPm
{UL‹ |L[‹ .U[ELnP‹ 1vvj‹ 7CeJLn‹ :[nUFQ‹ 0jLvQLe‹ ULvaDn‹ ‡p‹ jJLp‹
XCH-iRBCX4C]CXYm YUOOZCm B?Ym 9RZCXO?[ECRm FC@[RBCRCXm 2XCHYCm JPm
6wOws‹ LFZ‹ OLsvL‹ "nˆ…Me‹ Ue‹ ILn‹ $ˆnEwFQEnAeFQL‹ ‚>Un‹ yLn
a^IYAGCRYZ??ZOHAGCRm &?SBCOm ?[YYAGOIChCRm MURRZCm ?@CXm FCRCXCOc
lO[UFQvLe‹ wesLnL‹ 7lnLFQNq‹ AELn‹ eUFQv‹ ewn‹ AwOPnweI‹ ILs‹ 0AaLes‹
OCm :UX@CG?OZCm RHAGZm ?[YXi[PCRm ?X[Pm @CYAGOUYYm R?AGm gYZCXXCHAGm
IUL‹ 7vUaaL‹ weI‹ IUL‹ 3Mnsje‹ aŠssLe‹ ~wa‹ 7vjOO‹ lAssLe‹ Ln€
BCXm C[ZYAGCm[RBCYZ?FmmCHRm 1 39>= 0>& > 0 &1&,5,">!=0>
Z[†nv‹ <ˆ[ZLn7ULELn‹ ‚>Wr‹ \LPLe‹ Pnj…Le‹ =Lnv‹ AwO‹ lnjOLssUjeL[[L‹
=$ 0> B?Ym B?Ym VXH]?ZXCAGZOHAGCm 5`YZCPm ?@OjYZCm ?R?AGmIYZmLCBCXm
7FQAwslUL[Ln‹ aUv‹ wsEU]KweP‹ 7vLneFQLe‹ QAELe‹ ELU‹ wes‹ ZLUeL‹
BCXm elAGCXm ]CXOCFZm UBCXmHPVUXZHCXZmm
CHSCSm 2XCHY m
QAeFL‹ jFQ‹ Ls‹ Usv‹ eXFQv‹ UaaLn‹ ILn‹ <Ln[AP‹ ILn‹ Ae‹ JUL‹ 7FQAw€
ElXm BCRm :CXM?[Em ?Rm -CZaZ?@RCGPCXm ECYZa[YCZaCRbm BCXm m .UR?ZCm
slUL[Ln‹ QLnAevnUvv‹ ‚.AeFSL‹ ZjaaLe‹ zje‹ sL[Esv‹ AwO‹ wes‹ ~w‹{LU[‹
FHOZm[RBmR[Xm[RZCXm@CYZJQPZCRmCBHRF[RFCRm[RZCXYAGXJZZCSm^CXBCRm
tVL‹ tVFT‹ OŠp‹ LVe‹ ELtvVbcvLt‹ xHQ‹ ELPLVtvLne‹ xeJ‹ IWLtLt‹ PLpg‹
B?XEm fGROHAGCm %CYCZaCm ea[Pm 5AG[Zam BCYm ,[OZ[XF[ZCYm [AGbm FCOd
yLnvjeLe‹ aˆFQvLe‹ <UL[L‹ 7FQAwslUL[Ln‹ LalOUeILe‹ ILe‹ )jE‹ AwFQ‹
ZCRm PHZZOCX^CHOCm JRm E?YZm ?OOCRm "9-iRBCXRm PHZm [YS?GPCm ]USm #HRSc
ILsQA[E‹ A[s‹ %LnAwsOjnILrweP‹ {LU`‹ sUL‹ QULn‹ eUFQv‹ aWvvL[s‹ .WaUZ‹
O?RBm %XUh@XHZ?RRHCSm [SBm )XO?SBm )YZm B?PHZm BHCm [AGVXCHY@HSB[SFm
weI‹ "LsvUZ‹ sjeILne‹ ewn‹ dUv‹ ILn‹ 7vUaaL‹ AnELUvLe‹ ZˆeeLe‹ ;eI‹
ea[M[REZYECYZbm %XUh@XHZ?RRICRm [RBm 5AG^CBCRm G?@CSm YHCm HRm BCRm
eUFQv‹ ~w[Lv~v‹ LalOLQ[Le‹ sXFQ‹ IUL‹ 8lnLFQLn‹ ŠELn‹ ILe‹ $ˆnEwFQaAnZv‹
CXm *?GXCRm FCX?BCm ?@FCYAG?EEZm (Rm BCXm 5AG^CIam ^[XBCm m CHRm
OŠn‹ 7FQAwslUL[nj[[Le‹ LUi‹ {AFQsLeILn‹ .AnZv‹ yje‹ ILa‹ A[[L‹ lnjOU€
]URm[AGGiRBOCXRm[SBm:CXOCFCXRm@C?RZX?FZCYm2XCHY@IRB\RFYFCYCZam
vULnLe‹ZˆeeLe‹
?@FCOCGSZm CXmRE?RFm]UPm "SBCm
! ' .AvvQUAs‹ 7FQ†vvL‹ '
!UeL3UF$LeZLesULOZLe‹
+
F>;,I " +
'1,'+I
"
QnYgR€— WY}— )}ePn€— WY}— %‚Se{}YgQhtW‚t_— Pt_YgSe€—
‚tW—he}Y—*ˆg€YtŠ—gt—YgtYr—WgSe€Yt—7Y€Š—‚tPQe“t_h_Y}—@z}€grYt€
YgtY— QYSenY‚tg_€Yt— @€}‚l€‚}†PtWYn— WY}—%‚Se†h}€SeP]€— ‚t€Y}—
Q‚SeePtWn‚t_Yt— Y}ePn€Yt— Š‚— l”ttYt—'zSe— WY}— Š‚r— Fz}rP}Se—
WYt—%YWgt_‚t_Yt— …zt—'g_g€PnggY}‚t_— ‚tW—-nzQPnghY}‚t_— W‚}Se
QY€}gYQ†h}€SeP]€ngSe—}P€gztPnhgY}€Y}—%‚SeePtWYnlY€€Yt—]–e}YtWY—
P‚— N†P}— ]htWY€— Y— tPSe— Er]}P_Yt— YgtY— ltP{{Y— 5Ye}eYh€— WY}—
2ztŠYt€}P€gzt{}zŠY— Y€Š€—gSe— ehY}Š‚nPtWY— YQYtz—W‚}Se—†gY—gt—
"
'Y‚€SeYt— O— ;}zŠYt€— grrY}— tzSe— _‚€— WP— kYWY}—%‚See“tW
3“tWY}t—zetY—%‚Se{}YhQhtW‚t_—'z}€—–Q}g_Yt—gtW—WY}— QY]–}Se
nY}— 7Y‚Y}SeYgt‚t_Yt— Š‚— YgtYr— ,Y€{}Yh— …Y}lP‚]Yt— r‚—'Yr—
€YoY— N‚PrrYtQ}‚Se— WY—%‚SeePtWYn—Ygt— =–Sl_Pt_— WY}—#t_Y
€Ye€— PnnY}Wgt_— YgtY— †PSeYtWY— NPen— …zt— @Set“{{SeYtk“_Y}t—
Qz€…gYn]Pn€— ‚tW— YgtY—%‚Se{}YgYˆ{nzgzt— P‚_YQngYQYt— 'YttzSe—
O— ;}zŠYt€— _Y_Yt–QY}— WgY— P‚]— =PQP€€Y— ez]]Yt—†hY— gY— ht— PtWY
QnYgQ€ Š‚ QYWYtlYtWP
tPSe WYr-}‚tWnP_Yt{P{hY} WY%”}Yt
}Yt— %}PtSeYt— –QngSe— gtW— 7YznhQY}PnY— 5P}m€†g}€SeP]€P{z€Yn—
…Y}Yht—— WgY—%‚SeQ}PtSeY—rh€—YhtY}—HP}Y—ePtWYn€—WhY—Š‚_nYgSe—
YeYt— gr—%‚Se— tPSe—†gZ— …z}— †Ytg_Y}— Ygt— 2‚n€‚}_‚€— Pn— YgtY— HP}Y—
2‚n€‚} ‚tW—Hg}€SeP]€_‚€—g€—'Yr— €}P_Yt—#‚tPerY}Y_Yn‚t_Yt—
?%.!!3I 9H#!9IB3I B<(I %)!9I
‚tW— gt— WY}— ;}YgQgtW‚t_— Ygt— %‚See“tWnY}lP}€YnnŒ— WP— HY€€QY
†gY—Ygt—Y}r“’g_€Y}—5Ye}†Y}€€Y‚Y}P€Š—‚tW—WgY—%‚Se{}YgQgtW‚t_—
†Y}Q—QYSf}“tlY—‚t}Yt€PQnY—%Y€}gYQY—Y}ePn€Y—‚tW—%–SeY}—…Y}€Y‚
=YSet‚t_—@gY— Š‚— Y}ePn€Yt—Y}]z}WY}€—…z}— PnnYr—YgtY—}YPnY—%PnPtSY—
Y}Y— @YnQ€—gr—%‚SeePtWYn— †g}W—WhY—%‚Se{}YgQgtW‚t_—tgSe€— rYe}—
Š†gSeYt— †h}€SeP]€ngSeY}— *}]zn_z}gYt€gY}‚t_— ‚tW— l‚n€‚}{zng€g
5?RRtP8Rt8LZtW8ZP^ZZ\^=?R\t8Rt=F?t3.
t 1RFa?WZF\ft
R8;Et N†P}—
?LZFRJFtJSPP\t
:W8^;E\tP8RtJ?FR?tRBZ\tg^tE8:?Rt =8ZZtP8Rt ZF;EtFRt=?Pt
‚tYht_YSe}“tl€— _Y†znn€— ‚tW— grrY}— e“‚]h_Y}—
‚t€Y}nP‚]Yt—
SeY}—FY}Pt€†z}€‚t_—hr—QY}‚]ngSeYt—@YnQ€…Y}€“tWth—PnnY}—Q‚Se
R?^?Rt
"8R=t a?WLSW?Rt
@sEL\t
ez]]Yt—@W?P=?Rt
l‚n€‚}QY]ngYtY—
%‚See“tWnY}—
grrY}— tzSe— W‚}Se— #‚
SePn€‚t_— WY— ;}Yh†Y€€QY†Y}Q— WgY— FgYn]Pn€— WY— %‚SePt_YQz€—
?W?F\Zt 8Pt L^BE8@?Rt cFW=t P8Rt aSRt /_\SW?Rt @W?FcFLLFC?Rt @FRk
e“tWnY}hSeYt—#l€Y‚}Y—'P}‚r— r‚— WgY— ,}P_Y— Yg_Yt€ngSe—nP‚€Yt—
<‚z—…PWg—%‚SeePtWYn"—
a?WZ;E8@@\
t o:?Wt =F?Z?Zt ZSt C?R8RR\?t I c?W=?Rt 2R\?Wl
WF;E\ZP8\?WF8LF?Rt
g^Wt 4?W@sC^RBt
C?Z\?LL\t
-?P?Z\?W8^@B8:?Rt
RFZ;E?Rt
=?Wt 1RFa?WZF\q\t
PF\t
?FR?Pt =gYY—
@W?^R=LF;E?Rt
"
;}z]—-\^=?R\?Rt
'g{n%gQnIg—
'g{n.g€—
>YgrP}—
Yg€— @Y{€YrQY}—
— YrY}h€gY}€Y}—
;}z]Yz}—
WY}—
.BI2— 3Yh{Šg_— a?Wl
/W8=F\FSR?LL?t5?FER8;E\Z:8^P:?L?^;E\^RBt
E?@taSRt $F;WSZS@\t
?W^@LF;E?Wt5?W=?C8RBt
\?FL\t ^R=t 8:B?LF?@?W\t ZScF?t ?FRt UWS:L?PLSZ?Wt ^R=t aSWt 8LL?Pt W?B?Wt
#q;E?LRt
FRt PU@8RBt B?RSPP?R
t
F?t ?WZ\?Rt
P^LPFC?Rt ?@sEl
!"
-znW]}gYW}gSe—1 —-YSehSe€Y— WY—'Y‚€SeYt—%‚SeePtWYn—%W— — 3Yh{Šg_— — @— — " %”}Yt…Y}Yht#}Seg…—
R\?WR8\FSR8L?t/?RRFZZUF?L?W)WC8RFZ8\FSRt
L?t
b?X[<Ec8R>?Rt [TCM?F<Et cqEW?R>t cGYt QF]t ?FR?Pt /9dFt h^Pt8Z‚W~‚Sl—
-\_l
!TR]9J]t
hcF[<E?Rt—
N?YR?R>?Rt
_R>t N?EY?R>?Rt
E?XC?[]?LL]t _[t ?Fk
-•SeZt—- 1!—5ZiuZ—-ZWPulZt—–QZ}—XZt—%‚SeePtXZp—
3Zi{‹h_——A—
1E FZ}pZ`Z}—$p]}ZX—
A{ZrPtu—‹‚r—$QSep‚—
-]88][J_R[]t S>?Yt 4?WE9R=L_RCZC?Z<EF<Jt
%S>?WR?t WF?A@TWPt
=?R\?RcSERE?FPt
J^\Z;EF?W\t
c^W>?Rt ^R=t =8:?Ft
8^;Et CL?F;Et RS;Et
R?Pt :W?F\B?@q;E?W\?Rt
P^L\FP?=F8L?Rt ^WZ8RB?:S\t
Z\?LL\?Rt cFWt ^RZt
WY}— FY}ePtWn‚t_Yt—
Ng€— tPSe—Hg€€rPtt—=—
A€}Yg]Š–_Y—Š‚}—-YSegSe€Y—WY—]Y€Yt—
3PWYt{}YgY—]–}—%–SeY}—
/t—%‚SeePtWYn_YSegSe€Y—
,SP8RtaSRt-\?UE?Rt FRCt
4?WaF?L@qL\FB^RBtS=?Wt SUF?t
^RZ?W?Rt
?FC?R?Rt
i^Z8PP?Rt%g}_g€—
cS:?Ft5YtSeY&e}g€hPt—
cFWt RF;E\t R^Wt 8^Zt
=F?t
?WZ\?Rt
S@@?R?Rt
W8B?Rt aSRt =?Rt 0^\SW?Rt :?8R\cSW\?\t P5—O—
:?J8l
"
—
%Ygn—
Š‚r—%”}YtQn—'€Se—%‚SeePtWYn—,}Ptl]‚}€—
—@—%—
— -\^R=?RUL8Rt
?^\Z;Et@sWt SW=FRBU8ZZt
-;EF@@Z8RL?B?Z\?LL?t
WF\\?Wt *L8R?\tFPt -SRR?RZfZ\?Pt
-\SptS=?Wt4SW\WF?:ZJW8@\t
8LL?Rt
-\^=F?RI8EW?Rt ZSR=?WRt 8^;Et 8^Zt a?WZ;EF?=?R?Rt -\_=F?RWF;Ek
P?Rt
@SLB\?t 8^@t =F?Z?Rt USZF\Fa?Rt
?BFRRt ?FRt JL?FR?Wt -;ES;Jt
>‚—#?F=?Wt
;}YgQgtW‚t_—]–}—'‚rrhY—
HYgteYgr—IgnY‰F&.FY}nP_——@—
—@—
:Z\W8J\?Wt?RJ8RZ8\it
S;EB?:FWB?tFRt-s=8P?WFJ8t
m+^:LFZEFRCt /SSLZjt m(^8LF\ft $8R8B?P?R\jt ^R=t m4FZ^8Lt ?ZFBRjt
8^U\:L^\B?@qpt
5?R=FB?Wt :?c?BLF;E?Wt $?RZ;EtFZ\tt
o:?WW8Z;E?R=?Wc?FZ?t?WPrCLF;E\?tP8Rt^RZtZSB8Wt=F?t/?FLR8EP?t8Rt
?P?FRZ8PtZFRB?R>?tW^UU?t
8LZt cFWt FRt `RZ?W?Wt 1R\?WJ_R@\t ?FR\W8@?Rt 2RZ?Wt CWSp?Zt 6F?Lt ^Rk
\^RC?Rt cqEL?Rt KSRR\?R
t -St :?L?C\?Rt cFWt :?FZUF?LZc?FZ?t
Z?Wt RBLFZ;Et i_t a?W:?ZZ?WRt Ws;J\?t Z;EL8C8W\FBt FRt c?F\?t ?WR?t
=?RRt _RZ?W?t =W?Ft 8R=?W?Rt $F\:?cSER?WFRR?Rt ZFR=t 8LL?Z8P\t ?^\k
`WZ?t cF?t
Z;E?t 8Zt'!
a?WZ\qWJ\?t
ic8Wt ^RZ?Wt
?FP8\C?@sELt
8:?Wt ?FRt
:FZZk
?FR?Pt
mFBF\8Lt
UWFR\FRBj
=?Wt ?FB?R\LF;Et R^Wt FRt FRRFZ;EtZ\8\\l
+ )
+
'+ #+
*#+
*#+
+
# ^WZt
+
WZ\?WtZScI?\FZ;E?WtW=Z8\?LLF\t
FR=?W:^;E8^\SWFRt 7 FR=?WtaSRt ^LL?W:ft
5FW\Z;E8@\Zc8L=t g`Wt+WS=^J\FSRtaSRt SLgt 8Wgt^Zct
;E?Rt ?R\\q^Z;E\t c8W?Rt cFWt Z;ESRt S;Et =8t 8Pt Rq;EZ\?Rt /8Bt =F?t
@FR=?\t F?t *WS@?ZZSWFRt ?WZ\?LL\?t =8@sWt ?e\W8t -JWFU\?t FRtRBLFZ;Et Rt
4?W:^R=t?^WSUqFZ;E?Wt -\88\?Rt
?Wtgc?F\JL?FRZ\?tW=\?FLt
Z?EWt B^\t SWC8RFZF?W\?t FR@sEW^RBZcS;E?t >?Wt 2RFt :?B8RRt JSRR\?Rt
=?Rt ?:?R@8LLZt 8^@t RBLFZ;Et Z\8\\@FR=?R=?Rt +W8J\FJ8t E8\\?Rt cFWt FRt
J8=?PFZ;E?t *SZF\FSRt
&8;E8EP?WtS=?Wt*8WS=FZ\t
cFWt Z;ER?LLt aF?L?t
SR\8J\?t i^t 8R=?W?Rt `Z\8_Z;EZ\`=?R\?Rt JRsUk
E
@?Rt Rt ^RZ?W?Wt ?WZ\?Rt 5S;E?t :?J8P?Rt cFWt ?FR?t sEW^RBt s:?Wt =8Zt
JL?FR?RtW^UU?Rt ^@B8:?Rt i^t LrZ?Rt :?Ft =?R?Rt cFWt @W?F?Rt 6^C8RCt
r;EZ\?t 8W\?tFPt*SJ?W:L8\\t
$S\SWZUSW\:?BWF@@t
i^t 8LO?Rt W_;JP8Z;EFR?Rt :?J8P?Rt LLC?P?FRt c_W=?t ^RZt FPP?Wt
WtZ\?LL\?t=W?Ft?Z?\i?ts:?Wt=F?t *L8R?\?R:?c?B^RBt 8^@t
2RFB?LqR=?t ?FR?t JSZ\?RLSZ?t -\8=\W^R=@8EW\t =_W;Et ?LZFRJFt ^R=t
PS=?WRZ\?Zt V^FUP?R\t i_Wt 4?W@sB^RCt B?Z\?LL\t c?L;E?Zt cFWt 8LZt
W?Fg?F\ZUSW\;L^:t
Wrp\?t@sR@Z\?LLFB?t*WFPg8ELt
?Zt c^W=?Rt =F?t cF;E\FCZ\?Rt qRC?t g_t =?Rt nP\?WRt PF\t ^RZt B?P?FRl
-\^=?R\?Rt @sWt 2RF*WSI?J\?t UWS:L?PLSZt ^R=t SER?t s:?W@LsZZFB?t
?bSWg^C\?Zt ?^\?\F?Wt=?Wt R=F8R?Wt
68ELtUFtPF\t -\?LL?RtR8;Et>?Pt SPP8t
:sWSJW8\FZ;E?t /W8RZ8J\FSR?Rt 8^ZL?FE?Rt JSRR\?Rt
?=?^\?R=Z\?WtFR\?WR8\FSR8L?Wt $^ZFJUW?FZt
@i6?F;E?Rt@sWt "?HUgFBt
$8\?WF8Lt?FR?ZtL?B?R=qW?Rt6FPP?WZt
FR=?W:^;EE?L=t aSRtWF;Et qZ\R?Wt
Z8Pt :?Z\WF\\?Rt 2RZ?W?t !SSW=FR8\SWFRt 0FFR8t *FUUSR?Rt ZSWB\?t ZF;Et
Z?EWt ^Pt =8Zt 5SEL?WB?E?Rt =?Wt 8^ZLqR=FZ;E?Rt -\^=?R\?Rt _R=t
" " !0%<%<L &06%6L '>6$0%9<%6L
06!30"2L 06L $0%L 9!%0<: >6$L &62@%0:&6L 57$%96%9L %93-%L
0%L >:,.9>6-%6L 790%6<0%9%6L :0".L 6L $&6L !%9>'::8%C0)0:".%6L
%96'%3$%96L $%:L >:!03$>6-:!%9>'%:L %93-:2>('9>%9F
Rt =?Wt 3. t
3-:2>'566L 7.6%L :0".L 1%$7".L >'L 9 -%6L $%9L >:!03$>6-L
2RFb?WZF\q\t :WFRC?Rt =F?t *WS@?ZZSW?Rt =?Rt -\^=?R\?Rt ?FRt 8^p?WB?k
D>L !%:".9I62%6L%:.3!L 0:<L ""
crERLF;Et
BWSp?Zt)J9L
4?W\W8^?Rt
?R\B?B?Rt
c8Zt USZF\Fa?Wc?FZ?t
8^;Et
-3%0".%95H%6L
>:C>!03$%6$%L
<>$%6<%6L
>6$L 6<F
=F?t -;E?^t W8C?Rt g^t Z\?LL?Rt c^W=?t _RZt Z;ER?LLt B?RSPP?R
t F?t
#3;7)?E >.B/=)C5D9,0>E
?WL?:RFZW?F;E?Rt /8C?t BFRB?Rt PF\t 5?L;SP?U8W\F?Zt ^R=t L^::?Z^k
Z?L\?Rt
PFZZ:W8`;E\t?%9'::<L
cFW=
t 6cFZ;E?Rt ^RZ?W?Rt 4SWL?Z^RB?Rt @W?^?Rt
:".%0$>6-:<9I-%9L
;E?Rt P?FZ\t ?WZ;ErU@\t 8:?Wt FPP?Wt BLs;JLF;Et g^t R=?
t &8;Et >F?k
cFXt %35><.L
^RZt 8LZt L\?WR8\Fa?t
i_Wt :".90%!L
B?crERLF;E?Rt
$?RZ8t
s:?Wt C>9L
?FR?t
>933@%BL
06L %06%9L
%C%6:076L
"&$$(%"+
"+
sk
Z?Wt Z;ER?LLt b?W@LSB?R?Rt 5S;E?t :?C8RRt =8RRt =?Wt 2RF8LL\8Bt 4SPt
%9:<%6L >'3
-%
L
G%6L
><79%6L
%:L -%3>6-%6L
%06LZ?L:?Wt
>".L C>5L
;E?R?;J?t
:?Ft
=?Wt
P8Rt
ZF;Et FRt0:<L
?FR?Wt
$FJWSc?LL?t
JL?FR?t
}&Eˆ +Jtq FiK;,\ }]'ˆ -Ku~^<r.gW=-ˆ
?XZ\?Rt FR=W^;Jt =?Zt ?\c8Zt
JsELt cFWJ?R=?Rt 2RFB?:q^=?Zt :W8^;E\t
%:&6L ?79C>3%-%6L
$:L C>-3%0".L
".:".3-%@%92L
0:<L:L
PF\C?:W8;E\?t
8^P?R@W?`=?Rt
g^:?W?F\?Rt
J8RRt 8PF\t
cFWt!0%F
R8;Et
P8Rt ZF;Et RF;E\t 8:Z;EW?;J?Rt
L8ZZ?Rt
=?RRt EFR\?Wt =F?Z?Wt sLL?t
0!Fxs<p}](X?1_ˆ
‡ˆ 2)TyOd`3Uyejxˆ
<%<L 2&06%L
:0:06'795<076%6L
06L :%3<%6L
C>L 8:t
=?Pt
ZZ?Rt%C%8<%L
RF;E\t FRt :76$%96L
?FRt 4?W=8^^RBZ\F?@t
@8LL?Rt BrRR?Rt
cFWt ^RZt
LryhM}vJc`ˆ …ˆ iT/wN\>†ˆ
:?@FR=?\t ZF;Et ?FRt q^p?W\t PS=?WRt 8^ZB?Z\8\\?\?Zt "?WRi?R\W^P
t
)06$%6$%9L
7583%A0<I<L
LLLE8^Z?FC?R?Rt
6:%9%L 96".%L
0:<L 05L$F\t
5!9>".L
^R=t
i^t ?FR?Rt
8@@??t FRt =?Wt
8@?\?WF8t
=?Wt 4?Wl
Zt BF:\t @8Z\t J?FR?Rt ,8^Pt SER?t SPU_\?Wt PF\t R\?WR?\i_B8RCt `R=t
Z\qR=FB`RBt FRt =?Wt 2RFa?WZF\q\t ZScF?t FPt 8LL\qBLF;E?Rt "?:?Rt E8:?Rt
Eq^@FBt :?@FR>?Rt ZF;Et @W?Ft i^CqRCLF;E?t ^R=t JSZ\?R@W?F?tW^;J?Wt =F?t
cFWt J8^Pt *WS:L?P?t =8t @8Z\t 8LL?t FRR?Rt ?FRt B^\t a?WZ\qR=LF;E?Zt
R^Wt PF\t ?FB?RZt PF\B?:W8;E\?Pt *8UF?Wt B?ZU?FZ\t c?W=?Rt PsZZ?Rt
RBLFZ;Et ZUW?;E?Rt 5F?t Z;ESRt ?WcqER\t @FR=?Rt ^RZ?W?t #?EWa?Wk
?:?R@8LLZt FRt =?Rt 1R\?WWF;E\ZWq^P?Rt 2Pt ZF;Et FRt >?Pt a?WZ;E8;El
8RZ\8O\^RC?Rt 8^@tRBLFZ;Et Z\8\\t c8Zt @sWt ^RZt aSRt BWSp?Pt4SW\?FLt FZ\t
\?L\?Rt ?:q^=?t :?ZZ?Wt SXF?R\F?W?Rt i^t JrRR?Rt EqRB?Rt 8Rt aF?k
L?Rt 5qR>?Rt ,8^PULqR?t PF\t =?Pt W^R=WFZZt =?Wt I?c?FLFB?Rt \8B?
t
=?RRt S:cSELt cFWt ?FR?Rt FRRFZ;EK_WZt :?L?B?Rt FZ\t =8ZtWL?WR?Rt =?Wt
'%!E E !E $! E !" " " " "
@FRRFZ;E?Rt -UW8;E?t @sWt ^RZt ?FR?t BWSp?t ?W8^Z@SW=?W^RB
t -St E8:?Rt
sWt W^UU?R8W:?F\?Rt Z\?E\t ?FR?t CWSp?t Rg8ELt 8Rt *WSI?J\Wq^P?Rt
cFWt RF;E\t R^Wt :?Ft =?Wt JSWW?J\?Rt ^ZZUW8;E?t *WS:L?P?t ZSR=?WRt aSWt
i^Wt @W?F?Rt 4?W@sB^RBt &?:?Rt =?Wt aF?L@qL\FBt :?Z\s;J\?Rt F:LFS\E?Jt
8^Zt 8Zt B?Z8P\?t 2RFZfZ\?Pt FZ\t Z?L:Z\t @sWt ^RZt 8LZt _Z\8`Z;El
8LL?Pt:?FPt-U?F;E?WRt=?WtP?FZ\t L8RB?Rt^R=tL?F=?WtJ?FR?WL?FtZZSgFk
E %0<&6L 50<L C.39%0".%6L!!03$>6-%6L
8\FSRt?Wc?;K?R=?Rt5rW\?Wt FRt^RZ?X?Pt SU@t :?Wt\WS\it=?WtW:?F\t
L E
FPt 2RFL?:?RtB?RF?p?RtcFWt=?RRS;Et=F?t6?F\tEF?WtS:?RtFPtESE?Rt &SWk
Z\_=?R\?Rt Z?EWt Z\W^J\_WF?X\t ^R=t \W8RZU8W?R\t 8_@:?W?F\?\t Zt CF:\t
=?RtZ?EWt`R>tZ?E?Rt=F?t/8B?tR^WtZSt8Rt^RZtaSW:?F@LF?B?Rt$F\\L?Wc?Fk
„4kl-Jw3y5ˆ }_*ˆ 6m@ƒ_‚z3ˆ }<"ˆ
3P{nƒA7^ˆ €f_ˆYgQ#Gˆ hbs|ˆ fB7oˆ „\%Fˆ
R!H8Xˆ caˆ c$`SCs[k%Vˆ Q&I9Xˆ cD:Zˆ
:?@FR=?Rt ZF;Et i^=?Pt ?FR?t DWSp?t -USW\E8LL?t ^R=t ?FR?t -8^R8t FPt
?FRt R\?WR?\USW\8Lt c?L;E?Zt ZScSELt =?Rt -\_=?R\?Rt 8LZt 8^;Et =?Rt
"+
Si?R\?Rt ?FR?Rt o:?W:LF;Jt
s:?Wt =F?t I?c?FLFC?Rt #?EWa?W8RZ\8L\^RC?Rt
:L @09$L %06%L 27583%<<%L 5:<9>2<>90%9>6-L :<<<*6$%6L
" " /04'=L $!%0L ;0#/L $;L ' #/40#/&L
[email protected]@L $'J9L 6C>%0-6%6EL 0%:%L I<C%L :06$L 6:8796L
>6$L %98'40".<>6-L C>-3%0".L >".L )K9L $0%L $90<<&L >+-%L
&:%-%9%".<%L B87-9'0%L .7".@%9<0-%L >::<<<>6-L
L?tE8:?RtZF;Et=F?tm5?L;SP?U8W\F?ZjtFRtmSS=:f?U8W\F?Zjta?Wc8R=?L\t
^R=tZ;ETRtFRtc?RFB?Rt08B?Rt\W?\?RtcFWt^RZ?W?t
?FPW?FZ?t8R
t
A>58'11 2I
-_ZFt -;EF?Wt `R=t
482:*<(6(88+-E @A*<(6(88+-E
8\EL??Rt +Ws@?Wt Z\^=F?W?Rt 4?WL8BZE?WZ\?LL^RBt 8Rt >?Wt /5 t "?FUgHBt ^R=t 8:ZSLaF?W\?Rt ?FRt -?P?Z\?Wt 8Rt =?Wt
4/ t 1RFa?WZF\ft FRt FRRL8R=t '-I
-^ZFt -;EF?W 8\EL??Rt +Ws@?Wt
7@FR=?\taSWt=?Pt?FB?R\LF;E?Rt ,?RR?RtZ\8\\t
.Yqr‚€— )}nYtl”€€Y}—
@g_}gW—;zeq—‚tW—2zt}PW— EsnP‚]—
&E
" "
" " " " ""
"EE — —9}h_gtPnP‚_PQY—@Y{€YrQY}——
"E — — Y}tY‚Y}€Y—#‚]nP_Y—
—@Yg€Yt—=z†zen€—BPSeYtQ‚Se—FY}nP_—-rQ.——)‚}z—
—AYg€Yt—.P}}Pz†h€Š—GY}nP_—— *‚}z—
/t—WgYYr—HY}l—…zt—.Ynr‚€— )}nYtl”€€Y}— †g}W—WYr— 3YY}— Yht— ‘QY}
'Y}— WY‚€SeY—%‚SerP}l€— h€— €“tWg_— hr— HPtWYn— 5g€— WY}— )ht]–e
QngSl— –QY}— WhY— ]‚tWPrYt€PnYt— -}‚tWnP_Yt— WY}— 5Y€P{}PSeY— K64—
}‚t_— YgtY}— tY‚Yt— HP}Yta}‚{{Yt‰€YrP€gl— — †Y}WYt— gt— WY}—
…Y}SeP]]€— Er]PYtW— †Y}WYt— gt— ŠYet— 2P{g€Ynt— WgY—%Y}YhSeY— K64—
Š†Yg€Yt— Pl€‚PnggY}€Yt—#ƒ^nP_Y— PnqY— †gSe€g_Yt— HP}Yt_}‚{{Yt— rh€—
‚tW—WY}Yt—%Y€PtW€YhnY—(C:—z†gY—K64— @SfYrP—‚tW—L;P€e—Y}n“‚Ž
Et€Y}_}‚{{Yt— l‚}Š— ‚tW— |}“_tPt€— P‚]_Y]–e}€— ‚tW— Y}n“‚€Y}€— 7Y
€Y}€—'PQYg—}gSe€Y€—gSe—WY}—#‚€z}—Pt—*gt€Yg_Y}—‚tW—Y}ln“}€—WgY—DeY
QYt—YhtY}—%YSe}YhQ‚t_—W[}—kY†Yhnh_Yt—HP}Yt_}‚{{Y—rg€—WYt—WPŠ‚—
rP€hl—P‚]–e}ngSe—Pt—%Yg{gYnYt— ‚tW—#‚]_PQYt— @Se}g€€— ]–}— @Se}h€€—
_Ye”}YtWYt— Et€Y}_}‚{{Yv—WY}— N‚z}Wt‚t_— …zt— /tePn€Yt—BeYrYt—
…Y}WY‚€ngSe€— )}nYtl”€€Y}— †gY— K64'zl‚rYt€Y— €}‚l€‚}gY}€— ‚tW—
‚tW— FY}nP_Yt— †Y}WYt— )v€†gSlq‚t_€YtWYtŠYt— z†hY— FY}rP}l
F?t "rZ^RB?Rt ZFR=t 8^ZZ;ELF?pLF;Et Z?RJW?;E\t FRt =F?t c?Fp?Rt
qZ\l
PtePtW— …zt—(C(— –QY}{}–]€— †Y}WYt— l”ttYt— N‚WYr— QgY€Y€— WgYY—
;E?Rt ?FRg^\W8D?Rt 8:?Ft PsZZ?Rt =F?t Z;Ec8Wg?Rt 2R\?W:W?;E^RB?Rt
JZ~l— hr— $uePt_— WiZ— ‘QZ}hTe€— –QZ}— …Z}SehZWZuZ— +pZrZu€Z— $€
a?WR8;ELqZZFB\tc?W=?Rt 8Zt "rZ^RBZcSW\t?WBF:\tZF;Et c88B?W?;E\tFRt
€}gQ‚€Y—‚tW—%YŠYgSetY}—WY}— @{}PSeYt—K64—(C:— ""E z†hY— @SeYŽ
=?Rt
SW8RB?@8W:?R?Rt
qZ\;E?Rt
4F?Lt -U8pt
:?FPt "rZ?Rt csRZ;E\t
rP—‚tW—
WgYt€— WPrg€— P‚Se—
Pn— Ygt]PSeY—
7PSeSenP_Y†Y}l—
QYh—WY}—
?^;Et=8Zt
-\W?F@:8R=\?8Pt
;}z_}PrrgY}‚t_—
'gY— %}zSe‚}—
–QY}ŠY‚_€— rh€— ge}Y}— tPSe…znn
ŠhYeQP}Yt—-ngYWY}‚t_— ‚tW— nzSlY}Yt— @Se}YgQ†YgY— ‚tW— SeP]]€— _YŽ
^W?t
"rZ^RBt Z;EW?F:\t
8Pt :?Z\?Rt
BL?F;Et 8Rt -\W?F@:8R=t
05 t
€‚t_€}P€Y_gYt—
P‚]_YŠYgb€—
‚tW— rg€—%Yg{gYnYt—
QYnY_€— #tePtW—
#?FUiFDt 8;E:?W?F;Et $?=F?Rt ^\?R:?WCUL8\it "?FUiFCt ZhtZ— ‰€ZrP€hSeZt— ?Zch€Z}— h€— Z— r•_phSe—hSe— SeuZpp— „uX—
FRZ?R=?Z;EL^ZZt
^;Et
FRt ^RZ?W?Wt =F?ZIqEWFB?Rt
{}zQnYrnz— YhtYt— ‘QY}QnjUl— –QY}—
WgY— …Y}SegYWYtYt—
HP}Yt_}‚{
^ZB8:?t
JrRR\t FEWt cF?=?Wt
8\\W8J\Fa?t
B?cFRR?R
t
?Wt
{Yt— Š‚— …Y}SeP]]Yt—
HYg\}egt—
†g}W—^;EUW?FZ?t
WgY— @€Ynq‚t_—
WY}— YhtŠYntYt—
,?;E\Zc?BtFZ\t8^ZB?Z;ELSZZ?Rt
HP}Yt_}‚{{Yt— ]–}— FY}nPd\— ‚tW— {YŠgYnn— gr— @z}€grYt€Q‚SeePtŽ
WYn— WP}_Y€Ynn€— ,–}—%‚Vee“tWnY}— …Y}rg€€Yn€— WgYY—%‚Se— tgSe€—
t‚}— Pl€‚YnnY—-}‚tWnP_Yw‡hYx—Y— QhY€Y€— P‚Se— ]–}— PnnY— PtWY}Yt—
t‚_—-}‚tW†gYt—‚r—gSe—€gY]Y}—rg€—WYr—B eYrP—M64—Š‚—QY]PYt—
G=C4$==@EI =?Wt L?\g\?Rt ^ZB8:?t 7'Wt c8Wt *4I C0I 6&4"I C"&":I
*=@I D*"I
"*4I 6":7":I
""/"I
*"I
=*4I
0t€Y}YhY}€Yt—
WgYY}—
%}PySeY—6&4"I
YgtYt—
)gtQnhSl—
gt— "D*44":I
WgY— HP}Yt_}‚{
HYg€Y}Y—Fz}€YhnY—WhYY—BPSeYtQ‚SeY—gtW—WP—ePtWnhSeY— ,z}rP€—
-^Z8RR?t #S;EP8RRt 8^Zt #?FUgFCt -^Z8RRt-?F@@?W\t8^Zt "?FUiFCt_R=t5SL@B8RBtW?E?Wt8^Zt
{Yt‰€YrP€gl— -;ErR:^WBt
O€}P’YtQPet€P‚_ngSe— ‚tW—WY}—‚tSenP_QP}Y—;}Yg—
$
$
$#( %( (# (
3NV9W_j
$gX@>Tj
OXTj P@@IDO>j
(DV<BHgX@>Tj
OXTj POIDO>j
j
j
j
j
j
j
j
j
j
j
( (
5>DIjND<Bj =9Vj4PT=DQIPNjDOj=>Tj09V<B>j 6[>D@>Iji;>TjN>DO>j/WX=D>O[9BIj;>@D>I>Oj ;>V<BIPVVjD<Bj>DO>OjID<Hji;>Tj=>Oj4>TI9AVB>TVW>IIXOAVa
1>II>TT9O=j BDO9XVj _Xj [>T@>Oj iTj V><BVj (PO9W>j 9T;>DW>W>j D<Bj 9IVj 0><BODV<B>jVVDVW>OWDOjDNj5>IVBj >OWT>j @PTj +TDOWDOAj P9WDOAj 75+8j DOj
&Fw‘ $}J]‘ `wz‘ wpp]f‘ 1}fz}t Fgw‘ F}J]‘B`tzwJ]FVzwY}z‘ $QVtptzQt‘ NQt‘ :tQ`wI`lN}lY‘ QtFJ]zQl‘ Qw‘ Ffw‘ `J]z`Y‘ N`Q‘ e}fz}tqpg`z`wJ]Q‘ $QNQ}ˆ
/[9OV>9j 7[[[V[9O9<XHQTDOWDOAMj
z}lY‘ NQw‘ $}J]Qw‘ ]Qt~pt„}]QIQl‘ ‹$J]Qt‘ w`lN‘ `l‘ `]tQt‘ *QwFiz]Q`z‘ NQt‘ =q`QYQf‘ Q`lQt‘ *QwQffwJ]FVz‘ CQ}YQl‘ Vt‘ N`Q‘ 7FJ]Qfz‘ #tJ]`~‘ NQw‘
*Q`wzQw‘ NQw‘B`wwQlw‘ }lN‘NQt‘ #IYtlNQ‘Q`lQt‘ 'qpJ]Q‘ 0QNQw‘ Q`l„QflQ‘$}J]‘`wz‘ 1}fz}tY}z‡‘ *QYlQt‘ wQ]Ql‘`l‘NQt‘ =plNQtwzQff}lY‘ NQw‘ ;tp‰
9Vj 5+j DVWj >DO>j PTV<BXOAV>DOTD<BWXOAj =D>j VD<Bj NDWj 9II>Oj
;>@DO=>Wj VD<Bj =D>j TX<HN9V<BDO>j DNj 3N[>IWV<BXW_T9XNj DOj =>Nj
N}ezQw‘$}J]‘Q`lQl‘„}‘YtpQl‘ '`lYt`VV‘`l‘NQl‘VtQ`Ql‘ 6Ftez‘ }lN‘QiqV`lNQl‘N`Q‘ :tQ`wI`lN}lY‘ Ffw‘wztQlNQ‘BQzzIQQtIwIQwJ]tŽle}lY‘
T9A>Oj TXO=j XNj (9W>TD9ID>Oj XO=j +TP_>VV>j DNj >T>D<Bj
0>NQ>T9WXTj XO=j &X@W@>X<BWDAH>DWjO9<Bj )PW[>O=DAH>DWjT>AXID>TWj \>Ta
=>Tj TX<HW><BODHj ;>V<Bg@WDAWj 9Vj 9XQW9XA>ON>THj ID>AWj 9X@j
`Q‘ '`lV]t}lY‘ NQt‘ $}J]qtQ`wI`lN}lY‘ `l‘ &Q}zwJ]fFlN‘ Ft‘ N`Q‘
=>Tj 4>T[>O=;9TH>DWj ZPOj (9W>TD9ID>Oj DOj /D>;j I>]Pj *@@V>Wj
lpzQlN`YQ‘ 2w}lY‘ NQw‘ :tpIfQiw‘ NQi‘ NQt‘ $}J]iFtez‘ `i‘
0D>@j 29NQPO XO=j DADW9I=TX<Hj iTj 3OW>TVX<BXOA>Oj VW>B>Oj
‘ 0F]t]}lNQtz‘ F}wYQwQz„z‘Ft‘&`Q‘ wp‘ YQlFllzQl‘ ‹=J]fQ}NQtQt‡‘
>DA>O>j %9;PT9WPTD>Oj _XTj 4>T@iAXOAj 9IVj 9X<Bj =D>j _9BIT>D<B>Oj [>Da
N`Q‘ $J]Qt‘ i`z‘ ]p]Ql‘ <FIFzzQl‘ ~QteF}VzQl‘ IQ]QttwJ]zQl‘ „}lQ]‰
W>T>Oj (hAID<BH>DW>Oj =>Tj /[9OV>9j 3ODZ>TVDW^j 7[\[V[9O9<XHMj
iQlN‘NQl‘NQ}zwJ]Ql‘$}J]iFtez‘}lN‘NQl‘efQ`lQl‘$}J]]FlNf}lYQl‘
=>Tj =9Vj ( 9OA>BhTWj )>;>Oj =>Tj PTV<BXOAV9T;>DWj XO=j X@b
wL]`Ql‘NFw‘#}w‘„}‘Ntp]Ql‘ D}‘N`QwQi‘ CQJeQ‘}tNQ‘`l‘&Q}zwJ]fFlN‘
WT9AV;>9T;>DWXOAj @iTj 3OW>TO>BN>Oj =>Tj @T>D>Oj 5DTWV<B9@Wj [>T=>Oj
N`Q‘:tQ`wI`lN}lY‘Vt‘$J]Qt‘Q`lYQV]tz‘C}lŽJ]wz‘Ft‘waQ‘`l‘NQt‘=Fz‰
5>DW>T;DI=XOA>Oj @iTj (DW9T;>DW>Tj >;>Oj =D>V>Tj 3OW>TO>BN>Oj XO=j
„}lY‘NQw‘ $twQl~QtQ`lw‘ ~QtFleQtz‘ Fw‘l}t‘ 6`zYf`QNQt‘ Fl‘ w`Q‘IFlN‘
$PO@>T>O_>Oj _XNj 5DVV>OVWT9OV@>Tj 9OA>;PW>Oj "gBTID<Bj [>T=>Oj
=Q`z‘ ‘ QtVpfYzQ‘ N`Q‘ $}J]qtQ`wI`lN}lY‘ IQt‘ N`~QtwQ‘ =FiiQf‰
PHWPT9O=>Oj XO=j (9VW>TVWX=>OW>Oj 9XVj =DZ>TV>Oj /WX=D>OTD<BWXOa
tQ~QtwwƒwzQiQ‘ Fw‘N`Q‘ CF]f‘NQt‘ zQ`flQ]iQlNQl‘$}J]]ŽlNfQt‘ }lN‘
A>Oj 9X@A>OPNN>Oj @iTj >DO>j ,X9ID@DH9WDPOj DNj >T>D<Bj c+TDOWDOAj 9O=j
AQtfFYQ‘ Qt]]zQ‘ =Q`z‘ ‘ 9ezpIQt‘ ‘ `tN‘ N`Q‘ :tQ`wI`lN}lY‘ Vt‘
P9WDOA`j 9Vj ( ;>V<Bg@WDAWj j (DW9T;>DW>Tj =9TXOW>Tj OA>b
$J]Qt‘YQwQz„f`J]‘YQtQYQfz‘pi`z‘N`Q‘BF]fiYf`J]eQ`z‘QlzWŽffz‘7}l‘
OD>XT>j B>NDH>Tj +B9TN9_>XW>Oj XO=j +B^VDH>Tj >Tj T9X>O9OW>DIj
w`lN‘FffQ‘ AQtfQYQt‘ „}t‘ (QwzwQz„}lY‘~pl‘ VQwzQl‘ :tQ`wQl‘Vt‘ `]tQ‘ 7Q}ˆ
ID>AWj ;>Dj j +TP_>OWj [9Vj DOj =>Oj OA>OD>XTV[DVV>OV<B9@W>Oj T><BWj
QtwJ]Q`l}lYQl‘~QtqVf`J]zQz‘}lN‘$}J]]ŽlNfQt‘NF„}‘ N`Q‘YQI}lNQlQl‘
BP<Bj DVWj II>T=DOAVj DVWj >Vj [>ODA>Tj >TVW9XOID<Bj =9VVj =D>j (DW9T;>Db
?`zQf‘l`J]z‘}lzQt‘NQi‘VQwzYQwQz„zQl‘ 3FNQlqtQ`w‘„}‘~QteF}VQl‘ &Fw‘
W>Tj O>XOj Z>TV<BD>=>O>Oj )9WDPO9IDWgW>Oj 9OA>BhT>Oj =9j /[9OV>9j XO=j
$}J]qtQawI`lN}lYwYQwQz„‘ pVVQt`Qtz‘ Yt}lNwŽz„f`J]‘ N`Q‘ 6Yf`J]eQ`z‘
V>DO>j 3ODZ>TVDWgWj VW9THj DOW>TO9WDPO9Ij A>QTgAWj VDO=j DO>TV>DWVj ID>AWj
$L]Qt‘Vt‘`]tQ‘YQwFizQ‘ 2QIQlw„Q`z‘`i‘:tQ`w‘„}‘I`lNQl‘,l†‘ ‘ #Iw‘ ‘
=9Vj 9Oj =>Oj ZD>I>Oj9XVIgO=DV<B>Oj /WX=>OW>Oj =D>j DBT>Oj X@>OWB9IWj DOj
$}J]:t*‘ E$}J]qtQ`wI`lN}lYwYQwQz„‘ `tN‘ NQi‘ AQtfQYQt‘ pNQt‘ ,i‰
59I>Vj NDWW>IVj >DO>Vj T9VNXV/WDR>O=DXNVj @DO9O_D>T>Oj O=>T>Tb
qptzQ}t‘ cQNpJ]‘ N`Q‘ 6Yf`J]eQ`z‘ ZQZQIQl‘ N`Q‘ :tQ`wI`lN}lZ‘ Wt‘ N`Q‰
V>DWVj cDNQPTWD>TW`jN9Oj ]Q>TW>Oj 9XVj =>NjXVI9O=j XNj =>Oj (9OA>Ij
dQl`YQl‘ $J]Qt‘ F}V„}]QIQl‘ NQtQl‘ 'twJ]Q`l}lYwNFz}i‘ 4ŽlYQt‘ Ffw‘
9Oj 9XVT>D<B>O=j SX9ID@D_D>TW>Oj OA>VW>IIW>Oj XO=j /WX=>OW>Oj @iTj VQ>a
‘ 6plFzQ‘ „}tJef`QYz‘ &`Q‘ C`QfQ‘ NQt‘ '`lW]t}lY‘ NQt‘ $}J]qtQ`wˆ
_D>II>j T;>DWV XO=j 5DVV>OVA>;D>W>j DOO>TB9I;j =>Tj ;TDWDV<B>Oj >ZhIa
I`lN}lY‘]FIQl‘w`J]‘I`w‘]Q}zQ‘l`J]z‘~QtŽlNQtz‘ N`Q‘=`z}Fz`pl‘F}V‘NQi‘
H>TXOAj_Xj=><H>Oj DO>j JODWD9WDZ;>[>T;XOAjZPTj *TWjDVWj9IVPj=XT<B9XVj
$}J]iFtez‘ wQ]t‘ p]f‘ &`QwQ‘ C`QfQ‘ w`lN‘ `i‘†‘ ‘ $}J]:t*‘ VQwzYQˆ
>T@PIAZ>TVQT><B>O=j D>jAThfW>jXOW>Tj%9;PT;>=DOAXOA>Oj_XTj 4>Tb
]FfzQl‘ }lN‘ wzz„Ql‘ NFw‘ *QwQz„‘ 'w‘ IQwFYz!‘ ‹&Fw‘ *QwQz„‘ N`Qlz‘ NQi‘
@iAXOAj VW>B>O=>j OI9A>j DVWj >DO>j 4D>T@9T;>O I>]P=TX<HN9V<BDO>j
$ $ $ $ &`Q‘ (QwzwQz„}lY‘ ~QtI`lNf`J]Qt‘ :tQ`ˆ
NDWj 340TP<HOXOAj 3Nj =>@DOD>TW>j TX<H;>=DOAXOA>Oj >DO_XB9IW>Oj
wQ‘IQ`i‘AQteF}V‘Fl‘ 3Qz„zFIlQ]iQt‘w`J]Qtz‘NQl‘ $$$
=>OjHhOO>Oj5>V>OWID<Bj;>Dj9II>Oj ]Q>TDN>OW>OjDVWj=D>j->DODAXOAj=>Tj
$ &Fw‘ *QwQz„‘ YQŽ]tfQ`wzQz‘ „}YfQ`J]‘ NFww‘ N`QwQw‘
>TgW>j VP=9VVj =D>j TX<H[>TH>j /<BT9X;>j @iTj /<BT9X;>j O9<Bj#>=>Nj
#lYQIpz‘ Vt‘ Q`lQ‘ ItQ`zQ‘ ŒVVQlzf`J]eQ`z‘ „}YŽlYf`J]‘ `wz‘ `lNQi‘ Qw‘ N`Q‘
TX<HA9OAj HPNQI>WWj =>NPOWD>TWj XO=j >DO_>IOj A>T>DODAWj [>T=>Oj 6Xj
$ $ "$ $ $ $ #!$ C}t‘
N>DO>OjX@A9;>Oj 9IVj 0><BODV<B>j VVDVW>OWDOjA>BhT>OjHI>DO@PTN9WDa
CQ`z‘ NQt‘ '`lV]t}lY‘ NQt‘ $}J]qtQ`wI`lN}lY‘ FtQl‘ N`QwQ‘ CaQfQ‘ F}Vˆ
A>j+TP;>=TY<H>jDNj%9;PTj =D>jN>VVW><BODV<B>j T@9VVXOAjZPOj9W>Oj
Yt}lN‘ NQt‘ 'lz`Lef}lYQl‘ F}V‘ NQi‘ NQ}zwL]Ql‘ $}J]iFtez‘ YQtQJ]z‰
=>T>Oj XV\>TWXOAj 9IVj 9X<Bj =9Vj /<BT>D;>Oj ZPOj TA>;ODV;>TD<BW>Oj
VQtz`Yz‘ &FiFfw‘ YFI‘ Qw‘ l}t‘ NQl‘ wzFz`plŽtQl‘ $}J]]FlNQf‘ NQl‘ Qw‘ `l‘
=D>j @iTj )D<BW(XWW>TVQT9<BI>Tj V>BTj _>DW9X@[>O=DAj [>T=>Oj HhOO>Oj
wQ`lQt‘ A`QfVŽfz`YeQ`z‘ „}‘ wL]z„Ql‘ YFfz‘ &Qll‘ NFw‘ `l‘ &Q}zwJ]fFlN‘ wp‘
9VjOhWDA>j4PH9;XI9Tj V<BO9QQWjN9OjDNjWgAID<B>Oj3NA9OAj9;>Tj @9VWj
Y}z‘ F}wYQIF}zQ‘ $}J]]ŽlNfQtlQz„‘ Ft‘ N`Q‘ *t}lNfFYQ‘ Vt‘ N`Q‘ AQt‰
O>;>O;>Dj NDWj 9X@j (>DO>Oj T;>DWA>;>Tj I>TOW>j D<Bj j 9X@j =>Tj
ItQ`z}lY‘~pl‘B`wwQl‘`l‘ (pti‘~pl‘$J]Qtl‘ @i‘N`QwQw‘B`wwQl‘ ]Q}zQ‘
. K$PO@>T>O_j DOj %>DQ_DAj H>OO>Oj =>T>Oj 9VWA>;>Tj =D>j (
Fl‘ NQl‘ 5QwQt‘ „}‘ It`lYQl‘ `wz‘ Q`l‘ Y}z‘ F}wYQIF}zQw‘ $}J]]ŽlNfQtlQz„‘
&>DQ_DAj [9Tj D>j . j 7[[[D9TDA9D<PN8j [XT=>j j 9IVj c!OW>Ta
l`J]z‘ „`lYQlN‘ lpzQlN`Y‘ &Qt‘ zQJ]l`wJ]Q‘ )ptzwJ]t`zz‘ ]Fz‘ N`Q‘ *Q‰
O9WDPO9Ij VVP<D9WDPOj P@j->V>9T<Bj *TA9OD_9WDPOVj @PTj WB>j O@PTN9WDPOj
p]l]Q`zQl‘ NQt‘ 6QlwJ]Ql‘ ~QtŽlNQtz‘ }lN‘ lQ}Q‘ 6Yf`J]eQazQl‘ YQˆ
(>=D9j 9O=j T9QBD?j TWVj LO=XVWTD>V`j A>ATiO=>Wj XO=j ;TDOAWj PTb
wJ]FVVQl‘ 7QIQl‘ wzFz`plŽtQl‘ $}J]]FlNf}lYQl‘ Y`Iz‘ Qw‘ `l„`wJ]Ql‘
V<CXOAV>DOTD<BWXOA>Oj =D>V>Tj >;D>W>j _XNj 5DVV>OV9XVW9XV<Bj _Xa
9lf`lQ$}J]]FlNf}lYQl‘ N`Q‘ `]tQ‘ ?`zQf‘ qQt‘ :pwz‘ `l‘ FffQ‘ *QYQlNQl‘
V9NN>Oj D>j TDW>Oj ;>VW9<B>Oj =XT<Bj =D>j ,X9IDWgWj DBT>Tj 4PTWTga
&Q}zwJ]fFlNw‘~QtwQlNQl‘ellQl‘'$ppew‘ellQl‘wJ]lQff‘}lN‘p]lQ‘
A>j XO=j =>Oj P@@>O>Oj 3NA9OAj NDWj 9II>Oj 9O=>T>Oj $PO@>T>O_W>DIa
YtpQl‘ #}VFlN‘ F}w‘NQi‘ ,lzQtlQz‘]Qt}lzQtYQfFNQl‘QtNQl‘ &Fw‘
O>BN>TOj 9j >Vj ND<Bj O9<Bj >DO>Nj @TiB>T>Oj XVI9O=V9X@>OWB9IWj
$}J]‘ Ffw‘ q]ƒw`wJ]Qw‘ 9IdQez‘ `tN‘ `l‘ C}e}lVz‘ l}t‘ Q`lQ‘ 6Yf`J]eQ`z‘
\D>=>Tj DOj =D>j >TO>j _PAj @T9AW>j D<Bj ;>DNj ( Q>Tj (9DIj XNj
Vt‘ NFw‘ :}If`„`QtQl‘ ~pl‘ ,l]FfzQl‘ wQ`l‘B`J]z`Y‘ w`lN‘ N`Q‘ ,l]FfzQ‘ NQt‘
>DO>j/W>II>j9Oj XO=j >TBD>IWj >;>OVPj>DO@9<Bj>DO>j 6XV9A>j Vj A9;j H>Da
$J]Qt‘ N`QwQ‘ Y`fz‘ Qw‘„}‘ wJ]z„Ql‘ -l]FfzQ‘ ellQl‘ N}tJ]‘N`Q‘ lQ}Qw‰
O>j IgVWDA>Oj >[>T;XOAVV<BT>D;>Oj P=>Tj A>VQTg<B>j [9Vj @iTj _Xb
zQl‘ 'lz`Jef}lYQl‘ F}V‘NQi‘ NQ}zwJ]Ql‘ $}J]iFtez‘ F}J]‘`l‘ FlNQtQt‘
HiO@WDA>j >[>T;XOA>Oj 9;>Tj H>DOj (9fVW9;j V>DOj VPIIj ">AID<B>j
BQ`wQ‘ Q`zQtYQYQIQl‘ QtNQl‘ &`Q‘ &`Y`zFf`waQt}lY‘ wL]tQ`zQz‘ ~ptFl‘
TWj ZPOj iTPHT9WD>j =D>j >Vj =9OOj DOj TPf;TDW9OOD>Oj _Xj ;>[gIWDa
}lN‘I`QzQz‘ lQ}Q‘ 6Yf`J]eQ`zQl‘Vt‘ AQtfFYQ‘ }lN‘$}L]]ŽlNfQt‘ %tpww‘
A>Oj A9IWj 7DOV;>VPO=>T>j OWTgA>j 9Oj =D>j ;TDWDV<B>j ->OW>OH9VV>j XO=j
6QN`F‘ :}If`w]`lY‘ `wz‘Q`l‘ `J]z`YQw‘ ?]QiF‘}lN‘`tN‘„}lQ]iQlN‘~pl‘
=9Vj DO9O_9NWj (>I=XOAj ;>Dj =>Oj >VXO=B>DWV;>BhT=>Oj $POWPa
NQl‘ 6FtezzQ`flQ]iQtl‘ Fe„Qqz`Qtz‘ I„‘ FlYQQlNQz‘ &Qt‘ 9lf`lQŠ
>Th@@OXOA8j ADOAj >OWA>A>Oj >DODA>Tj 59TOXOA>Oj 9X@j =>Tj PN>Q9A>j
$}J]]FlNQf‘ QttQ`J]z‘ F}VYt}lN‘ NQt‘ „}lQ]iQlNQl‘ AQtItQ`z}lY‘ NQw‘
=>Tj TDWDV<B>Oj PWV<B9@Wj DOj >TIDOj 7[[[;TDWDV<B>;PWV<B9@W=>8j
,lzQtlQzw‘ `iiQt‘ iQ]t‘ 1}lNQl‘ 7`J]z‘ l}t‘ N`QcQl`YQl‘ 2QwQt‘ N`Q‘
j
( '"("( !&("((!(( !(
}lepiqf`„`Qtz‘ ~plwzFzzQl‘ #ffQtN`lYw‘ wpffzQ‘ iFl‘ w`J]‘ NFtF}V‘
H>DO>j X<BB9O=IXOAj DOj Og<BVW>Tj )gB>j ZPT@DO=>Oj QTP@DWD>T>Oj ZPOj
Q`lwzQfgQl‘ NFww‘ N`Q‘ $t`zQl‘ ~`Qf‘ CQ`z‘ ]FIQl‘ &`lYQ‘ QtNQl‘ Qtˆ
=>Tj (hAID<BH>DWj i<B>Tj DNj OW>TO>Wj _Xj ;>VW>II>Oj X<Bj &>V>Tj =D>j
fQN`Yz‘ N`Q‘ (tFYQ‘ `wz‘ l}t‘ Fll‘ BŽ]tQlN‘ `J]‘ F}V‘ N`Q‘ #lzpt‰
A>[hBOID<Bj DNj VW9WDPOgT>Oj X<BB9O=>Ij >DOH9X@>Oj OXW_>Oj DNN>Tj
zQl‘ „}‘ iQ`lQl‘ #lztŽYQl‘ FtzQzQ‘ w}J]zQ‘ `J]‘ i`t‘ IQt‘ ,lzQtlQz‘
h@W>Tj 9X<Bj =D>j (hAID<BH>DWj =>Vj *OIDO>X<BVBPQQDOAVj 7VD>B>j D9a
EwqFtQtppiJp}e‘ wJ]pl‘ Q`liFf‘ Q`lQ‘ @lzQte}lVz‘ Bp]lYQˆ
AT9NNj
8j )>;>Oj=D>V>Oj e;>TI>AXOA>Oj_Xj=>Oj 6D>I>Oj=>Vj+T>DVb
iQ`lwJ]FVzQl‘ `l‘ #fzIF}p]l}lYQl‘ `Q‘ w`Q‘ `l‘ &Q}zwJ]fFlN‘ }lzQt‘
;DO=XOAVA>V>W_>Vj VQD>I>Oj 9X<Bj =D>j NPN>OW9O>Oj $PO_>OWT9WDPOVa
=z}NQlzQl‘ IQf`QIz‘ w`lN‘ Y`Iz‘ Qw‘ ]`Qt‘ l`J]z‘ +`Qt‘ p]lz‘ iFl‘ `i‘ '`lˆ
QTP_>VV>j 9X@j =>Nj =>XWV<B>Oj X<BN9THWj >DO>j [D<BWDA>j -PII>j 0TPW_j
VFi`f`Ql]F}w‘&`Q‘ :tQ`wQ‘Vt‘ NFw‘ C`iiQt‘ E ‘ si‘ f`QYQl‘„`wJ]Ql‘ ‘
>V>W_j [9<BV>Oj =D>j ATPf>Oj X<BBgO=I>Tj XO=j 4>TI9A>jDNN>Tj VWgTb
}lN‘‘ ‘ E‘ I`w‘ ‘ '}tp‘qtp‘BpJ]Q‘}lN‘ IQ`l]FfzQl‘l`J]z‘„FlYwˆ
H>TjXO=j;TDOA>Oj=9VjI>D<BA>[D<BWj=>Vj(9THW>VjDOVj59OH>Oj$I>DO>j
fŽ}V`Y‘ N`Q‘ 8QIQlepwzQl‘ ,L]‘]FIQ‘N`~QtwQ‘Bp]l}lYQl‘ ~pl‘ (tQ}lNQl‘
XO=j NDWWI>T>j3OW>TO>BN>OjB9;>Oj=9Vj )9<BV>B>Oj/D>jHhOO>Oj=>Nj
YQwQ]Ql‘ }lN‘ Q`‘ NFww‘ Ylwz`Y‘ l`J]z‘ YfQ`J]IQNQ}zQlN‘ i`z‘ wF}‰
$POHXTT>O_=TX<Hj OD<BWj VW9O=B9IW>Oj XO=j NiVV>Oj V<BID>f>Oj 9Vj
IQt‘ }lN‘ ptNQlzf`J]‘ `wz‘ (t‘ iQ`l‘ D`iiQt‘ `l‘ Q`lQi‘ Y}{‘ `lwzFlN‘ YQˆ
X<BQT>DV;DO=XOAVA>V>W_j Z>TI9OAV9NWj =D>V>j OW[D<HIXOAj H9OOj
wQz„zQl‘ AptHtz]Ž}wJ]Ql‘ iaz‘ *FtzQl‘ w`lN‘ N`Q‘ ‘ ‘ E}iYQtQJ]lQz‘
VD>j F>=P<Bj OD<BWj VWPQQ>Oj T9AID<Bj DVWj P;j =D>j ;>WTP@@>O>Oj 4>TI9A>j
‘ '}tp‘`lef}w`~Q‘FffQt‘ 7QIQlepwzQl‘ ,lzQtlQz‘}lN‘?QfQVpl‘`i‘ 6pˆ
XO=j X<BB9O=IXOA>Oj OD<BWj 9X<Bj =9OOj V<BID>f>Oj NiVVW>Oj [>OOj
lFz‘Y}z‘`l~Qwz`Qtz‘9Ip]f‘cQNQt‘NQt‘NtQ`‘$Qp]lQt‘wQ`l‘Q`YQlQw‘C`i‰
=D>j +T>DV;DO=XOAj [>DW>TBDOj ;>VW>B>Oj [iT=>j P=>Tj P;j VD>j =XT<Bj =D>j
iQt‘ `i‘ +F}w‘ ]Fz‘ wq`Qfz‘w`J]‘ NFw‘ 2QIQl‘ `l‘Bp]l„`iiQt‘ }lN‘ 1J]Q‘
+T>DV;DO=XOAjDOj @9IV<B>Tj /D<B>TB>DWj A>[gAWj [>T=>OjXO=jVPNDWj Z>Ta
FI‘ &`Q‘ 6QlwJ]Ql‘ `l‘BFfQw‘ epii}l`„`QtQl‘ }lN‘ wp„`Ff`w`QtQl‘ YQtl‘
Q9VV>Oj VD<Bj =>Oj Z>TgO=>TW>Oj >=DOAXOA>Oj =>Vj X<BN9THW>Vj _Xj
BQt‘NFw‘„}tJeYQ„pYQlQ‘ 2QIQl‘IQ~pt„}Yz‘ `tN‘]`Qt‘p]f‘eF}i‘„}t‘
VW>II>OjXO=j >OWVQT><B>O=j _Xj T>9AD>T>Oj 7D9AT9NNjj />DW>j
8j
<}]Q‘epiiQl‘&`Q‘ 3QIQlw]Ffz}lY‘ `wz‘ `i‘#ffYQiQ`lQl‘zQ}tQt‘ Ffw‘ `l‘
5D>j DOj >XWV<BI9O=j DVWj =D>j
&Q}zwL]fFlN‘ 6FlYQf‘ i}ww‘ `J]‘ F}VYt}lN‘ QalQt‘ Y}zQl‘ :tFez`e}iwˆ
X<BQT>DV;DO=XOAj DOj dVW>TT>D<Bj A>V>W_ID<Bj A>T>A>IWj 9II>T=DOAVj
~QtYz}lY‘ dQNpJ]‘ l`J]z‘ QtfQ`NQl‘ &`Q‘ ‘ '`lp]lQt‘ }iVFw‰
V<BPOj V>DWj =>Nj j "XODj j 9Vj >V>W_j _XTj +T>DV;DO=XOAj ZPOj
wQlNQ‘ =zFNz‘ wqt]z‘ ~pt‘ 2QIQlwVtQ}NQ‘ 'w‘ Y`Iz‘ `l‘ =FJ]Ql‘ 1}fz}t‘
i<B>TOj [XT=>j =>Nj Z>TWT9AID<B>Oj /^VW>Nj =>Vj /9NN>IT>Z>TVj
=qptz‘ }lN‘ '`leF}VQl‘FffQw‘ Fw‘ NFw‘ +Qt„‘ IQYQ]tz‘ }lN‘ Vt‘ NQl‘ <Qwz‘
ZPTA>_PA>Oj =9j =D>V>Vj 9XVj 3T><BWID<B>Oj TiO=>Oj OXTj @iTj DOj
`wz‘ N`Q‘ Fg`w`wJ]Q‘ +F}qzwzFNz‘ %FtN`VV‘ l}t‘ Q`lQ‘ #}zpwz}lNQ‘ QlzVQtlz‘
dVW>TT>D<BjZ>TI>AW>ji<B>TA>IW>OjHhOO>j9jG>=P<BjN>BTj9IVjj +TPb
>FmwRF‘f`QY|‘N`uQez‘Fi‘ 6RRu‘ €Fw‘ 7F|}uVtR}mNR‘}mN‘BFwwRuwqpu|ˆ
_>OWj =>Tj i<B>Tj DNQPTWD>TWj [XT=>Oj [gT>j >DO>j ->A>IXOAj =XT<Bj
gQt‘ YfQ`J]QtiFQl‘ QtVtQ}z‘ =qptz‘ ]Fz‘ IQt]F}qz‘ Q`lQl‘ ]p]Ql‘ =zQf‰
/9NN>IT>Z>TVj XO_XT>D<B>O=j A>[>V>Oj >Tj 5>Aj_XNjO9WDPO9I>Oj
fQlQtz‘ IQ`‘ 6QlwJ]Ql‘FffQt‘ #fzQtwYt}qqQl‘ QwQYQl‘`J]‘ i`J]‘ IQ`‘
>V>W_jDVWj9X@ATXO=j=>Vj>DOB>DWID<B>Oj=>XWV<B>Oj/QT9<BT9XN>Vj>OAj
NQl‘ $pYQlwJ]z„Ql‘ NQt‘ @l`~Qtw`zŽz‘ Q`lYQwJ]t`QIQl‘ ]FIQ‘ 0QNpJ]‘
Z>T;XO=>Oj NDWj =>Oj T>DAODVV>Oj 9X@j =>Nj X<BN9THWj =>Tj /<B[>D_j
w`lN‘ N`Q‘AQtQ`lQ‘}lN‘ ,lzQtQwwQlYQiQ`lwJ]FVzQl‘ NQt‘ @l`‘ qt`iŽt‘ F}W‘
;_[j >XWV<BI9O=Vj DVj j [XT=>j DOj dVW>TT>D<Bj =D>j +T>DV;DO=XOAj
#fep]pfeplw}i‘ F}wYQtaK]zQz‘ }lN‘ l}t‘ wQe}lNŽt‘ NQt‘ #ez`~`zŽz‘
=9VVj
=D>j ;DVB>TDA>j
OD<BWj NDWj
=>Nj -><BWj
YQ`NiQz‘
N`Q‘ w`Q‘ `l‘->A>IXOAj
`]tSt‘ pVV`„`QffQl‘
$Q„Q`J]l}lY‘
ztFYQl‘Z>T>DOa
E=qptz‘
;9Tj
V>DOj
HhOOW>j
>OWV<BIPVV>Oj
VD<Bj
dVW>TT>D<BVj
X<BBgO=I>Tj
_Xj
=qtFJ]Ql‘ =p„`FfQw‘ pŽh‘ 6Fl‘ wpffzQ‘ Ffwp‘zt`leVQwz‘ wQ`l‘pNQt‘ Qw‘ Q‰
>DO>Nj
/9NN>IT>Z>TVV^VW>Nj
O9<Bj l`J]z‘
=>XWV<B>Nj
4PT;DI=j
=T>Dj
l`YwzQlw‘
~pt‘ 9tz‘ ~Qtw}J^Ql‘ NQll‘
l}t‘ QYQl‘
NQt‘D>j
=z}NQlˆ
O9WDPO9I>Oj
->Z>TV>j
>XWV<BI9O=Vj
dVW>TT>D<BVj
XO=j
=>Tj
/<B[>D_j
zQl‘ Y`Iz‘ Qw‘ Q`l‘ Vfpt`QtQlOSw‘ 7FJ]zgQIQl‘ `l‘ NQl‘ :}Iw‘ E1lQ`qQl‘ }lN‘
[XT=>Oj
_XNj c/9NN>IT>Z>TVj
`j
7cT>D'gO=>T->Z>TV`8j
Z>Ta
*FwzwzŽzzQl‘
'w‘ `wz‘ Q`l‘ 1f`wJ]QQ‘
NFww‘
Qw‘ `l‘*tpIt`zFll`Ql‘ wzŽl‰
>DODAWj
XO=j
;>ATiO=>W>Oj
VPNDWj
>DOj
AT>O_i;>TV<BT>DW>O=>Vj
/^VW>Nj
N`Y‘ tQYlQz‘ &F‘ `t‘ FffQtN`nYw‘N`tQez‘ Fi‘ 6QQt‘ p]lQl‘ Y`Iz‘ Qw‘ cQNQl‘
=>Tj
X<BQT>DV;DO=XOAjII>T=DOAVj
Z>TVWPf>OjAT>O_i;>TV<BT>DW>O=>j
„Q`zQl‘
?FY‘ fQ`J]zQl‘ <QYSl‘ FlwplwzQl‘
dQNpJ]‘ i`fNQ‘ ?QiqQtFz}tQl‘
+T>DV;DO=XOAVT>A>IXOA>Oj
A>A>Oj
=9Vj
35>WW;>[>T;VT><BWj
XO=j
}lN‘ =pllQ‘ '`l‘ Q`zQtQt‘ ,ttYfF}IQ‘ `wz‘ NFw‘ }lYQl`QIFtQ‘ It`z`wJ]Q‘
VDO=j
A>Uj
TWj
j
4j
Oj
j
Z>T;PW>Oj
DOj
OWT9Aj
9X@j
T>DVW>IIXOAj
'wwQl‘ ‹9tYFl`wJ]‘}lN‘YSw}lN]Q`zwIQ}wwz‡‘w`lN‘N`Q‘=J]gFYtzQt‘
A>UjTWj
j;Vjj
4jOj
j[XT=>jZPOj=>Tj 5>WW;>[>T;VHPNNDVVDa
NQt‘It`z`wJ]Ql‘ %}`w`lQ‘
al‘ PQt‘iFl‘Fi‘f`QIwzQl‘wQfIwz‘NQl‘1pJ]fVVQf‘
>;TX9Tjj
POjDOjTiVV>Ij9;A>I>BOWj">=P<BjHPOOW>jNDWj=D>V>TjDNj
wJ]`lYz‘&Fle‘YtpQt‘=}rQtiFtezeQzzQl‘Vt‘QiqV`lNf`J]QtQ‘6ŽYQl‘
Z>T>DO;9TWj
[>T=>Oj
=9Vj c/9NN>IT>Z>TVj
`j
O=>j7F]t}lYwˆ
"XODj j
F}J]‘ NQ}zwJ]Q‘
#lI`QzQt‘
PFt}lzQt‘ QtNQl‘
N`Q‘ ;DVj
iQ`wzQl‘
=XT<Bj
>DO>j
O9WDPO9I>j
->A>IXOAj=>Tj
X<BQT>DV;DO=XOAj
_Xj
>TV>W_>Oj
YQfwzQ‘ QtVffz‘ #lYwz‘ ]G|‘ iFlJ]Qt‘ $Qw}J]Qt‘ ~pi‘ Q}tpqŽ`wJ]Ql‘
=D>j
3[>WW;>[>T;VT><BWID<BjXO;>=>OHID<BjDVWj
9VjDNj"XODjj
(QwzgFlN‘ F}J]‘ ~pti‘ 5`lex~QteQ]t‘ F}V‘ NQt‘ .lwQf‘ @i‘ ipI`f‘ „}‘ wQ`l‘
;>V<BIPVV>O>j
cXO=>VA>V>W_ji;>Tj =D>j +T>DV;DO=XOAj7FJ]‘Q`lQt‘
;>Dj i<B>TO`j
ItFJ]zQ‘`J]‘iQ`l‘NQ}zwJ]Tw‘#}zp‘i`z‘lFJ]‘=FlwQF‘
Y}ˆ
PTD>OWD>TWj
VD<Bj
9Nj
@T9O_hVDV<B>Oj
+T>DV;DO=XOAVA>V>W_j
9X<Bj
;>a
zQl‘BpJ]Q‘ wJ]pl‘ ]Fz‘ iFn‘ YQfQtlz‘ N`~QtwQ‘ AQteQ]twtQYQfl‘ wQ]t‘ VtQ`‘
H9OOWj
9IVj c%:Dj %9OA`j =>VV>Oj 3$PO@PTNDWgWj ;>T>DWVj N>BTN9IVj
„}‘`lzQtqtQz`QtQl‘}lN‘Q]Qv‘„}‘zzQl‘Ffw‘cQiFlNQl‘ai‘iptYQlNf`J]Ql‘
4D>I>j ->A>IXOa
ZPNj
XTPQgDV<B>Oj
>TD<BWVBP@j
;>VWgWDAWj
[XT=>j
=zF}‘ N`Q‘ AptVF]tz‘ „}‘
fFwxQl‘ &Qt‘
VVQlzf`J]Q‘
:QtwplQl~QteQ]t‘
`wz‘
A>Oj
=>Vj hVW>TT>D<BDV<B>Oj
+T>DV;DO=XOAVA>V>W_>Vj
VDO=j =>O>Oj
=>Vj
Y}z‘ F}wYQIF}z‘
FIQt‘ zQ`fS`wQ‘
l}t‘ i`z‘ (t]I}J]QttFIFzz‘
qtQ`wQtz‘
=>XWV<B>Oj
gBOID<Bj;_[jAI>D<Bj/PjVDO=j9X<BjBD>Tj
9II>j4>TI>A>Tj
=9_Xj
BQt‘ w`J]‘ `i‘
)Qtl~QteQ]t‘ VptzIQQYQl‘ iJ]zQ‘ lQ]iQ‘
IQwwQt‘
NQl‘
Z>TQ@ID<BW>Wj
&>W_WZ>TH9X@VQT>DV>j@iTjDBT>j4>TI9AV>T_>XAODVV>j@>VW_Xa
$}w‘ ElFz`plFfQ‚qtQxwJpi‘ NQt‘ }i‘ Q`l`YQw‘ I`ff`YQt‘ `wz‘ Ffw‘
I>A>OjXO=j;>H9OOWj_XjA>;>OjgO=I>TjVDO=j9Oj=>Oj@>VWA>V>W_W>Oj(DOb
NQt‘ C}Y‘ @i‘ w`J]‘ Q`o‘ QtwzQw‘ qQtwlf`J]Qw‘ $`fN‘ ~pl‘ =Flˆ
9IVj %>W_WZ>THgX@>Tj
A>[>T;VNgfDAj
=>VWQT>DVj
A>;XO=>Oj fQYT‘
VP@>TOj
wQF‘ „}‘ ~QtwJ]FVVQl‘
`J]‘ VpfYQlNQ‘
.lzQtlQzwQ`zQl‘
Flw‘ +Qt„"‘
D>j
>VWV>W_XOAj
>DO>Vj
(DO=>VWa
9Oj
%>W_WZ>T;T9X<B>Tj
Z>TH9X@>Oj
€€wFlyRFZp~}e‘ …Qb[z‘ ~`RfR‘ `M]zaYR‘ /mXpuiF|`pmUl‘ IQu‘
QT>DV>VjVW>IIWj>DO>Oj[>V>OWID<B>Oj3OW>TV<BD>=j_XNj=>XWV<B>OjX<Ba
N`Q‘ =zFNz‘ F}V‘ `wz‘ FIQt‘ Q_Qt‘ F}V‘ #lp]lQt‘ F}wYQt`J]zQz‘ Ž]tQlN‘
QT>DV;DO=XOAVA>V>W_j=9Tj
OjF}V‘
dVW>TT>D<Bj
VDO=j
OXTj
(DO=>VWQT>DV>j
~aw`zwFlwQFIFƒJpj‘
?p}t`wzQl‘
„`Qfz‘
&`Q‘ ~`QfQl‘
(pzpw‘ cQˆ
@iTj
i<B>Tj A>;XO=>Oj
=9VjkQ]t‘
B>DfWj >Vj
[DT=j OXTj >DO>j +T>DVXOW>TAT>O_>j
NQlVFffw‘iFJ]Ql‘
5}wz‘F}V‘
YQlF}wp‘`Q‘N`Q‘NtQ`N`iQlw`plFfQl‘
>Tj(DO=>VWb
@>VWA>I>AWjXO=j>DOjBhB>T>Tj+T>DVjDVWj=XT<B9XVj
#lw`J]zQl‘NQt‘ =zFNz‘}lzQt‘ fpJFff`~QJpi‘ E$`tNw‘ QƒQh‘
QT>DVj=D>OWj9IVj-D<BWIDOD>j@iTj=D>j+T>DV@>VWV>W_XOAjXO=j;D>W>Wj(hAID<Ba
ZPOj i<B>TOj Z>T;9O=VT><BWID<Bj A>T>A>IWj IVj F>=P<Bj @>VWVW9O=j
>Tj NQPTWj
>DO>j
H>DW>Oj
_XTj2Q`q„`Y‘
DO=DZD=X>II>Oj
+T>DVA>VW9IWXOAj
$ #ldF‘ =L]FfQlIQt\‘ =z}NQlz`l‘ NQt‘ AQtfFYw]QtwzQff}lY‘ Fl‘ NQt‘
+?B1‘
‘
I`w‘ ‘ :tFez`e}i‘
Ffw‘ VQD>IWj
?QJ]l`wJ]Q‘
=9VVj dVW>TT>D<Bj =>Nj 5-j ;>DWT>W>Oj [>T=>j XO=j N9Oj ;>@iT<BW>W>j
_>OWT9I>j
-PII>j
DNj
>V>W_j
9Vj
DVWj
VD<B>Tj
=>Tj
09WV9<B>j
A>V<BXI=>Wj
#ww`w|Qlz`l‘IQ`i‘BQfw]‘ %QlztQ‘ Wpt‘ :t`lz`lY‘ FlN‘ %pFz`lY‘ =FlwQF*tpIt`zFll`Ql‘ $ &t‘ =`ipl‘ 6‘ +FiIfƒl‘ #ldF‘=J]FfQlIQtY‘
$
$
LBssLPp&pm‹xP[_LPp ŽIXPp Bys"PyxsIX`BiL [eompx[Ppx }[pLP„
RPsxVP_PVxPi #iLopP[s EP[e =Pp^ByR i[IXx y yixPpsIXpP[xPi "[P
pP[xs [i‚ ‰sxyIX4p& }PpLPi *eompxPypP BLpPss[Ppx yiL [i‚ sIX}P[Pp[sIXP >PxxEP}PpEs^mee[ss[mi >P^m Pp^_ŒpxP B__Pp…
}[pL BysSŽXp_[IX ByR L[P PL[iVyiVPi LPs *eompxs P[iVPVBiVPi
L[iVs e[x =PpRŽVyiV |me 6PoxPeEPq LBss EPsBVxPp 6Be„
"BiBIX s[jL *fompxPypP |PqoS`[IXxPx L[P -Pxx|Pp^ByRsopP[sP L[P
IfGU† SDbw† lGU„b† DbIKil† D]l† EKW† qbl† $D† WGU† Q…i† IDl† lf† SKbDbb{
|me=Pp_PVPp RŽp LPi=Pp_BVssxBBx RPsxVPsPxx }[P[i"PyxsIX…
oK† €#qlofaWlKI† 5ifSjDaaKz† Wb† €!qlWbKll† 2DbDSKaKboz† KWbSK|
_BiL E} PeoRmX`Pi }PpLPi i[IXx y yixPpsIXpP[xPi #[i 5P„
lGUiWKEKb†sDi† UDooK†WGU†IWK†2„S]WGU[KWo† aWi† IWK†2fIq]K† bDGU†aKW{
[eompxyp ;eVPXyiVLPp4pP[sE[iLyiV[sx }[PByIX[eLPyxsIXPi
bKb† KWSKbKb† +boKiKllKblGUsKigqb[oKb† DqlwqsƒU]Kb† qbI† aKWbKb†
yIXopP[sE[iLyiVsVPsPx |PpEmxPi #[i }P[xPpPp ;ixPpsIX[PL
KWSKbKb† 9oqbIKbg]Db† wqlDaaKbwqloK]]Kb† B,boKjbDoWfbD]† !qlWbKll†
ye LPyxsIXPi yIXopP[sE[iLyiVsVPsPx [sx L[P 0V_[IX^P[x yp
+boKjbDoWfbD]† 2Dj[KoWbS† 9oiDoKSv† IrKioWlWbS† 2DbDSKaKbo† #fb{
#[ipŒyeyiV |mi 5BEBxxPi&Pr‚ Es ‰sxyIX4p&[sx P[i 5B…
QKiKbGK%uUWEWoWfb%rKbo†2DbDSKaKbo† ^boifIqGoWfb†of†*qaDb†8K{
EBxx |mi E[s y 4pmPix LPs 0[iLPsxopP[sPs VPsxBxxPx "Pp yIX„
lfqiGK† 2DbDSKaKbo† *qaDb† 8KlfqjGK† 2DbDSKaKbo† Wb† 5jDGoWGK†
XŒiL_Pp LBpR L[PsPi 5BEBxx }Bp RŽp sP[i 0Bp^Px\iV iyxPi 
&bS]WlGU† +b† ZKIKa† 'D]]† jDoK† WGU† KqGU† Wb† IKi† KiloKb† @fGUK† aKUi†
B`s 6Pp|[IP Be ,yiLPi}ŒXpPiL P\iPsPpBxyiVsVPsopŒIXPs P[i
D]l† rWKi† 2fIq]K† wq† EKlqGUKb† qa† IDbb† lGU]qllKbI]WGU† KbolGUKW}
SRPix_[IXPs>PpEPiLBe[x[sxB__PpL[iVsyixPpsBVx *e&PVPisBx
IKb†wq†[„bbKb† sK]GUKj†IKi†/qjlK†KqGU†Da†EKloKb†SKQƒ]]o†qbI†IDbb†
y"PyxsIX`BiL ^BiiVPr‚ Es ‰sxyIX4p&L[P4pP[sE[iLyiV
Kilo†DqQ†rWKi†wq†aWbWaWKiKb† $fGU†DqGU†Q…i† (iKWwKWoDbSKEfoK†sWiI†
iyp SŽp L[P ŽIXPp ByRVPXmEPi }PpLPi LPpPi -Px|Pp^ByRsopP[s
bDo…i]WGU†SKlfjSo† '…i†WboKjKllWKioK† 9oqIKboKb†fiSDbWlWKjo†qbI†rKi|
|mp ePXp B_s 0miBxPi PpsxeB`[V EP^Biix VPVPEPi }ypLP yiL
DbloD]oKo† IKi† 3DgWKi† +boKjbDoWfbD]† 9oqIKbol† #]qE† KWbK† ?WK]wDU]† Db†
L[P s[IXsP[x e[iLPsxPis sPIXs 0miBxPiByR -BVPp EPR[iLPi
[q]oqjK]]Kb† [oWrWoƒoKb† 9gfioEKSKWloKioK†UDEKb†IWK†2„S]WGU[KWo† IWK†
$ $ $ $ $ $ !"$ ˆ"[P 6IX}P[
9gfjoDbSKEfoK†rfb†rKilGUWKIKbKb†9gfioDb]DSKb†qbI† GKboKjb†Wb[]†
XBx ^P[iPi XmemVPiPi yIXeBp^x smiLPpi LpP[ }P\xVPXPiL yi…
9GUtXaaFƒJLjb†qbJ†)f_Qg]ƒpxMb†SLSLb†LYbMb†SLjXbSMb†-DUjKmEKX}
BEXŒiV[V |miP\iBiLPp mpVBi[s[PpxP sopBIXpPV[miB_P yIXeŒp^„
oiDS†wq†EKbqowKb†
xP L[P s[IX [i |[P_Pe yixPpsIXP[LPiƒ ByIX [e 6€sxPe LPp 4pP[s„
! * * &#* 3DGUIKa† aWi† aKWb† 5]Dow† Db† IKj† 3DgWKj†
E[_LyiV #s P[sx[Ppx P[i LPyxsIX P[i RpBis[sIX
yiL P[i [xB`[…
=bWrKilWov†wqSKlDSo†sqiIK† SDE†Kl†bDo…j]WGU†bfGU†ZKIK†2KbSK†DbIK}
Pi[sIXsopBIX[VPp yIXeBp^x "[P P[iP`iPi 0Œp^xP s[iL BEPp
iK† $WbSK† wq† Kj]KIWSKb† 9GU]WK‚]WGU† sf]]oK† WGU† bWGUo† 3DGUo† Q…i† 3DGUo†
BySVpyiL LPs Vpm‹Pi #[iR_yssPs LPp EPiBIXEBpxPi -ŒiLPp LypIX„
qboKj† IKa† lGUfooWlGUKb† 9oKibKbUWaaK]† rKiEiWbSKb† lfbIKib† KWbK†
Bys B_s 8P[_eŒp^xP ]PiPp 6xBBxPi y EPxpBIXxPi sm sxBeePi Px}B
a„S]WGUlo†oifG[KbK†qbI†sDiaK† !]KWEK†QWbIKb† $WK†@fUba„S]WGU}
4pmPix LPp ŽIXPp [e sIX}P[Pp[sIXPi 6mpx[ePix |mi
[KWoKb†Q…i† 9oqIKboKb†lWbI†DqGU†Wb† 9GUfoo]DbI†lf†EiKWo† SKQƒGUKio† sWK†
LPyxsIXPi =Pq_BVPi yTWpyiL LPp PxpBIXxyiW LPs LPyxsIXPi
UWKiwq]DbIK†?fa† 9oqIKboKbsfUcUKWa† …FLi† @)†FWl† UXd†xqi† 6jWrDo~
6opBIXpByePs }[pL [e $m`VPiLPi iyp LPq yIXeBp^x LPp
qboKj[qbQo† fIKi† KWbKj† KWSKbKb† @fUbqbS† loKUo† KWbKa† DqGU† DqQ† IKi†
LPyxsIXsopBIX[VPi6IX}P[ EPxpBIXxPx 6P[xLPe 3^xmEPp +blK]†D]]Kl†fQQKb†
bqj†wq†KWbKa†sKlKbo]WGU†U„UKjKb† 5jKWl† $D†WGU†
VB_x ByIX [i LPp 6IX}P\ LPp |mi [Xp ‰sxPppP[IX yiL "PyxsIX…
KiloKbl† bWGUo† fUbK† KWbK† =boKj[qbQo† wq† UDEKb† bDGU† %IWbEqiSU† jKW}
`BiL |PpRBssxP ˆ"pP[-ŒiLPp5P|Ppsƒ EP[ LPe s[IX ye #[iPi
lKb†qbI†IDi…EKi† UWbDql†DqGU†KWbK† =boKi[qbQo†aWo†DbIKiKb†WboKibD{
L[P xP[`iPXePiLPi =Pp`BVP LPp LqP[ EPxP[`[VxPi -ŒiLPp |PpoS`[IX„
oWfbD]Kb†9oqIKboKb†oKW]Kb†sf]]oK† KbolGUWKI†WGU†aWGU†IDQ…i† aWGU†Q…i†
xPxPi .BLPiopP[sP |mi =Pp_BVsPpPyVi[ssPi [i B__Pi LpP[ >ŒX„
KWbKb† 5]Dow† Wa† 9oqIKboKbsfUbUKWa† wq† EKsKjEKb† !KW† IKj† ?KiSD}
pyiVPi SPsxy`PVPi "[P 'ŒiL_Pp s[IXPpxPi ye iLPpPi y LPi
EK† IKl† @fUbUKWag]DowKl† SW]o† sWK† QDlo† WaaKi† Qi…U† EKsKjEKb† ]fUbo†
eP`pP|Pps P[iPi =Ppsxm‹ VPVPi LBs sIX}P[Pp[sIXP ,BpxP__VP„
lWGU† qGU†WGU† UDooK† )]…G[†qbI†sqiIK†Wb†KWbKl†IKi† EKloKb† @fUbUKW{
sPxLBpsxP`_P #[iP PsIX}PpLP LPs 6IX}P[Pp yIXXŒiL_Pp yiL
aK†IKj† 9oDIo†Da†2fiiWlfb†#WiGql†KWbhqDioWKio† IDl†GD††)KUaWbq{
=Pp_PVPp|PpEBiLPs A6== VPVPi L[PsP =PpRŽVyiV RŽXpxP yq
oKb†rfa† 9oDIowKbojqa† KboQKjbo†sDi† ]]KiIWbSl†lWbI†IWK† 5iKWlK†Q…i†
PsxŒx[VyiV LPpBE_PXiPiLPi 'B_xyiVLPp>P^mLypIXL[P 5P^yps„
KWb†† a† Sif‚Kl† AWaaKi† Wb†KWbKj† 2Dbb@)†aWo† SKaKWblGUDQo]W}
^mee[ss[mi RŽp >PxxEP}PpEsSpBVPi "Bs |PpBi_BssxP }[PLPpye
GUKj† 3qowqbS†rfb†0…GUK†qbI†!DI†aWo†† GD††%qif†bWGUo†rKj}
LPi psPi|PpP[i LPs "PyxsIXPi yIXXBiLP_s yiL LPi 6== e[x
S]KWGUEDi†aWo† IKqolGUKb†2WKogiKWlKb† $Dl† ]WKSo† D]]KjIWbSl†bWGUo† Db†
}P[ [e ,Ppi V_P[IX `ByxPiLPi =Pp}B_xyiVsVPp[IXxsEPsIX}PpLPi
IKj† =brKjlGUƒaoUKWo† IKi† =bWrKilWoƒoKb† lfbIKjb† SKbKjK]]† Da† Uf|
|mp LBs 6IX}P[Pp yiLPsVPp[IXx y [PXPi "B Ps 9P[`P LPp P[i…
UKb†2WKogiKWlbWrKDq†Wb†)if‚EiWoDbbWKb†?WK]†S…bloWSKi†sfUbo†Kl†lWGU†
VPpP[IXxPi PsIX}PpLPi B_s |PpxpPxEBp EPRBiL XmE LBs &Pp[IXx
UWKi†KWbQDGU†bWGUo† Kl†lKW†IKbb† aDb†QWbIKo†KWbK†gjWrDoK†=boKj[qbQo†
Be yVysx L[P #ixsIXP[LyiV LPp 5P^yps^mee[ss[mi ByS
qbI† oiWQQo† UWKi† EKW† KWbKa† S…bloWSKjKb† 2WKogiKWl† aWo† IKa† ?KiaWKoKi†
yiL EPBySxpBVxP L[P >P^m e[x P[iPp 2PyEPypxP[`yiV LPp ?y`Œss[V…
?KiKWbEDjqbSKb†wq† 9fbIKi]KWloqbSKb†sWK† )DioKbDjEKWo† fIKi†DbIKjK†
^P[x LPs 6BeeP_pP|Pps e 0Œp ^Be L[P >P^m ye
Uƒql]WGUK† =boKilo…owqbS† $Dl†Wlo†D]]KiIWbSl†KUKi† lK]oKb† IKi† (D]]†ZK{
V_P[IXPi 5Psy_xBx }[P EPpP[xs "Pp 6BeeP`pP|Pps sP[ yiy„
IfGU†bWGUo†DqlSKlGU]fllKb†
_Œss[V Ps VŒEP ^P[iPi ^BysB_Pi ?ysBeePiXBiV }[sIXPi LPp
""* !K[faao† aDb†…EKi† IWK†@fUbUKWarKjaWoo]qbS†[KWbKb† 5]Dow†
4pP[sE[iLyiV yiL LPi |PpTm`VxPi @[P_Pi 6mpx[ePixsEpP[xP yIX„
wqSKlDSo† [Dbb†aDb†lWGU†WaaKi†bfGU†lK]Elo†DqQ†IWK†9qGUK†bDGU†gjW{
XBiLP`sL[IXxP yiL :[xP_|[P_SB`x "[Ps }ypLP BEPpeB_s |mi
rDoKb† =boKj[…bQoKb† EKSKEKb† qGU† UWKi† lWbI†KWbKa† IWK† 2WoDiEKWoKi†
LPp 5P^yps^mee[ss[mi EPsxŒx[Vx yiL SŽXpxP LBy LBss 6== yiL
Ews† 9oqIKboKb† IKj† >bWrKilWoƒo† Wb† D]]Ki† 8KSK]† SKib† EKUW]Q]WGU† 4IKi†
psPi|PpP[j P[i }P[xPpPs 0B_ LPi >PV ye yiLPsVPp[IXx V[i„
WUi† WbQfiaWKio† KqGU† KWbQDGU† qboKi† UoogsssloqIKbogDIPfq[†
VPi e[x LPp $m`VP LBss P[i PiLVŽ_x[VPs ;pxP\_ |mpPpsx ByRVP„
…EKi† IWK† @fUba„S]WGU[KWoKb†rfj† 4io†
sIXmEPi }ypLP *e 0Œp }ypLP L[P PsIX}PpLP BEVP}[P…
&#* * %%* #* $)%'* &IWbEqjSU† IWK† *Dqgo
sPie[xLPp PVpŽiLyiV LBssLPp 6BeeP_pP|Pps P[iPyiy_Œss[VP
loDIo† 9GUfoo]DbIl† Wlo† aWo† KWbKi† &WbsfUbKiwDU]† rfb† † KWbK†
PP[ixpŒIXx[VziV LPs >PxxEP}PpEs LBpsxP__P ˆL[P s[IX ByIX
sqbIKjlGU„bK† 9oDIo†IKj†/fbojDloK† wqa†%WbKb† UWlofiWlGUKi† 9GUDq}
i[IXx BysiBXes}P[sP LypIX &pŽiLP LPp }[pxsIXBSx_[IXPi #SS[„
g]Dow† Wb†IKa†)KlGUWGUoK†qbI†:jDIWoWfb†qb…EKilKUEDj† lWbI† wqa† b}
[Pi pPIXxRPpx[VPi _BssPƒ "[P _PxxP 0V`[IX^P[x LPp *ixPp|Pi„
IKiKb† afIKibK† @K]oloDIo† ?fb† IKi† !qiS† €&IWbEqiSU† #Dlo]Kz† Da†
x[mi|mi6==ziM ptPi|PpP[j P[iytjCXePWPt{JXEP[e {j…
U„GUloLd† 7qb\o† IMj† 9pDIp† _XLSMbJ† EWMoMp† lYGU† NWb† …EKisƒ]oWSKbIKj†
LPspBx Rm`VxP smRmpx "mIX mE}mX_ imIX [e 2m|PeEPp L[P
!]WG[† DqQ† IDl† UWlofiWlGUK† AKboiqa† IKi† 9oDIo† IDl† wqa† @K]o[q]oqi}
,mee[ss[mi RŽp >[pxsIXBRx yiL EVBEPi >, LPs 2Bx[miB_pB…
KiEK† IKi† * wƒU]o† =bI† DqGU† [q]oqiK]]† UDo† &IWbEqiSU† Q…i†
xPs L[P 6IXBRSyiV P[iPs 4pP[sE[iLyiVsVPsPxPs EPSŽp}mpxPxP yiL
9oqIKboKb† KWbWSKl† wq† EWKoKb† ADU]iKWGUK† 2qlKKb† qbI† )D]KiWKb† EWK}
y L[PsPp ?P[x Bi P[iPe &PsPxPsPix}ypR BpEP[xPxP }ypLP Be
oKb† KWbK† DEsKGUl]qbSliKWGUK† ?WK]QD]o† Db† qlloK]]qbSKb† qboKj}
0B[ LBs ysiBXePVPsyIX |me yiLPspBx BEVP`PXix 0[x
lGUWKI]WGUloKj† 9oW]iWGUoqbSKb† rfb† IKi† ?KjSDbSKbUKWo† EWl† Wb† IWK†
L[PsPp#ixsIXP[LyiVS[P_Pi LPp6IX}P[Pp6BeeP_pP|PpsyiLsme[x
)KSKbsDjo† IKj† 2fIKibK† +boKjbDoWfbD]† EK[Dbbo† Wlo† IWK† 9oDIo† DqGU†
ByIX L[P 4pP[sE[iLyiV RŽp =Pp_BVsPpPyVi[ssP "Pp 6== VBE
Q…j† WUjK†'KloWrD]l† wq†IKbKb†IDl† Wa† qSqlo†loDooQWbIKbIK† &IWbEqjSU†
lWGU† D]]KjIWbSl† bfGU† bWGUo† SKlGU]DSKb† qbI† lKowoK† DqQ† IKb† %bo}
9DaaK]iKrKjl† Wb† WUiKj† %uWloKbw† EKIifUo† qbI† a…llKb† lWGU† bqb†
sqiQ† KWbKl† 9GUsKWwKi† 5jKWlEWbIqbSlSKlKowKl† $WKlKi† sqiIK† qi{
KWbKa† loƒi[KjKb† /fb[qjjKbw[DagQ† aWo† IKb† )if‚Kb† DqllKowKb†
lgj…bS]WGU† rfb† IKi† @ 0† Q…j† *KiElo† † DbSK[…bIWSo† 2Woo]Kj}
$Psx[|B_ ePXpPpP 0ys[^ yiL $[_eRPsx[|B_s sm}[P LBs 'mVeBiB€
sKW]K†UDo†lK]EWSK†IWK† iEKWo†Db†KWbKj†SKlKow]WGUKb†)iqbI]DSK†KWbSK{
P[iPsLPp Vp‹xPi6[_|PsxPpP|Pixs[iLPp >P_x VPXpPi
loK]]o† QfiIKioK† D]]KiIWbSl† IWK† !qbIKlrKisD]oqbS† wqj† ?fi]DSK† KWbKl†
$ $ $ $ $ $ $ $ &Bi s[IXPp Pp„
!KjWGUoKl† …EKi† IWK† 'f]SKb† IKi† qQUKEqbS† IKi† !qGUgjKWlEWbIqbS†
}BpxPx[Xp X[Pp ByIXP[iPi ^ypPi 5PompxŽEPp LBs>PxxPp&PiPpP__
DqQ† IKj† %bIK† .q]W† † rfi]WKSKb† lf]]† $DbDGV† lf]]† KbolGUWKIKb†
^Bii [IX LBpŽEPp i[IXxs 6IX`PIXxPs EPp[IXxPi *IX XBxxP }ŒXpPiL
sKiIKb† sWK† Kl† We† IKj† 9GUsKWw† EKw…S]WGU† IKi† !qGUgiKWlEWbIqbS†
eP[iPs yRPixXB`xPs [i #L[iEypVX |[P` &_ŽI^ yiL LBs >PxxPp }Bp
sKWoKiSKUKb† sWiI† $Kj† 'D]]† IKl† 9DaaK]iKrKjl† Q…UioK† wq† lfQfi{
i[IXx EPssPp mLPp sIX`PIXxPp B_s EP[ yis ;iL sP`Esx }Pii Ps VP…
oWSKb† 5iKWl[ƒagQKb†Wb†IKj† 9GUsKWw†!Wl†DqQ†:UD]WD†lWbI†D]]K†)if‚Kb†
pPViPxXBx eP[sx}BpPiL[P6IXByPp iyp|mpŽEPpVPXPiLyiLiBIX
IKl†!qGUUDbIK]l†Wb†IKb†/DagQ†KWbSKloWKSKb†qbI†EWKoKb†8DEDooK†EKW†
^ypPp ?P[x}[PLPpEPPiLPx 0BjIXPysR_ŽVP[iL[P '[VX_BiLsmLPp
!KlolK]]Kjb†rfb†EWl† wq† † 5ifwKbo†Db† qGU†[]KWbKiK†!qGUUDbI]qb{
yp as_P mR 6^€P L[P B_s P[iP LPp sIXisxPi *isP_i&pm‹Ep[xBii[Pis
SKb† SKsƒUiKb† 3DGU]ƒllK† qa† [fb[qjjKbwQƒUWS† wq† E]KWEKb† [„b}
V[_x }BpPi }Bp sPXp |mi 5PVPi VPopŒVx BEPq ByIX LBs XBxxP sP[„
bKb† qbI† sf]]Kb† IDl† ZKIfGU† bWGUo† Wb† IKb† qlaD‚Kb† IKj† !WS† 5]DvKi†
iPi 5P[ ?yeB` eBi B`s -[PEXBEPp |mi 5PVPiEVPi EP[ L[PsPe
IKl† 9GUsKWwKj† !qGUaDj[oKl† UDbIUDEKb† $Dl† )KsƒUiKb† rfb† 8D{
yiEPsxŒiL[VPi>PxxPpsPXp ByRsP[iP,msxPi^meex
EDooKb† jKW‚o† oifow† IKi† U„UKjKb† ElDowwDU]Kb† 1„GUKi† Wb† IWK† *Dql}
$ %Žp L[PpPViPp[sIXPi9BVPsm`_xPx[Xp i\IXxByRP[iPi6IX[pe
UD]ol[DllK† IKi† !qGUUƒbI]Ki† IWK† IWKlK† lKUi† sDUjlGUKWb]WGU† IqiGU†
smiLPpi ByR P[iP }BpeP yiL pPVPiTPsxP 3yxLmmp+BI^P yjL }Bs†
IDl† %iU„UKb† IKi† 5iKWlK† rfb† sKbWSKi† loDj[† bDGUSKQiDSoKb† :WoK]b†
sPpRPsxPs 6IXyX}Pp^ [LPB_Pp}P[sP >BiLPpsIXyXP ypŽI^VpP[„
lofgQKb† sKjIKb† qGU† IWK† ?Kj]DSK† sKiIKb† aWo† U„UKjKb† qlSDEKb†
RPi"Pp >[iL}ŽpLPPyIXPXRpŽXPp mLPp soŒxPp LBy}[iVPi LPi
jKGUbKb† a…llKb† ID† aWo† loKWSKbIKb† @KiEK[floKbwqlGU…llKb† qbI†
5PVPisIX[peP[iy^_BooPi yiL EP[ PyPpi #ixLPI^yiVspP[sPi \e
KWbKa† UƒjoKjKb† /fbIWoWfbKb/DagQ† IKj† !qGUUƒbI]Ki† wq† iKGUbKb†
-BiLPs\iiPpPi}ŒpPPp s[IXPp_[IX iyp X[iLPp_[IX
Wlo† $DaWo† DqGU† []KWbKjK† !qGUUDbI]qbSKb† DqQ† IWKlKa† )KEWKo† [fb}
$ $ $ $ $ $ $ $
[qijKbwQƒUWS† E]KWEKb† DjEKWoKo† IWK† ?KjKWbWSqbS† IKi† qbDEUƒbSWSKb†
$ $ EsIX`[P‹PiL |[P`_P[IXx imIX }Bs VBi __VPeP[iPs
!qGUUƒbI]Ki† Db† KWbKa† 2fIK]]† IKl† wKboiD]Kb† %Wb[DqQl† )KiDIK†
6IXmxxPi Bi s[IX s[iL }[p^`[IX sPXp RpPyiL_[IX yiL eBi ^Bii s[IX
[]KWbKiK† !qGUUDbI]qbSKb† Q…U]Kb† lWGU† IqiGU† IKb† (D]]† IKl†
X[Pp P[iRBIXiyp }mX_RŽX_Pi6PXpEPP[iLpyI^x}Bp [IX[e ŠEp[VPi
9WK† lqGUKb† D]oKibDoWrK† @KSK† wqi† loƒbIWSKb† 8DEDooSKsƒUiqbS† EKW†
LB|mi V[Ex Ps X[Pp ]PLP 1PiVP Vyx smpx[PpxP 0PisIXPisIX_BjVPi
!KlolK]]Kib† qbI† lKowKb† DqQ† rKiloƒi[oK† /qbIKbEWbIqbS† [fagK}
>Pii P[iPp yp ysXB_xPvxP``P ^meex sxP_`x Pp s[IX sIXi X[ixPi
oKboKb† 9KirWGK† aKUi† 5ifQW]† qbI†%iQWbIKiSKWlo† EKWa† !qU]Kb† qa† IWK†
Bi smLBss Ps ByIX EP[e #[isxP[VPi^P[i&PLpŒiVP_ V[Ex=mpLpŒi…
/qbIlGUDQo†
VP_iV[ExsX[Pqi[IXx yiLB_s[IXLBsyePpsxPi 0B_VPsPXPiXBEP
&$ $$& * $Kj† IKqolGUK† !qGUaDj[o† UDo† lWGU† lKWo† %Wb}
}Bp [IX PIXx EBcd *IX ^Dii PyIX B_sm iyp PeoSPX_Pi PypP ?}P[„
Q…UiqbS† IKj† !qGUgiKWlEWbIqbS† SKƒbIKjo† qbI† ƒbIKio† lWGU† sKWoKi{
RP` y EPVpBEPi yiL LPi 7IXp[xx [isys_BiL y }BVPi "\P&pŽiLP
UWb† $WK† /fbwKbojDoWfb† DqQ† ?Ki]DSl qbI† !qGUUƒbI]KiKEKbK† sWiI†
LBRŽp s[iL }[P [Xp PyIX s[IXPp LPi^Pi ^iix |[P_RŒ_x[V"Pp Pps‡
sKWoKi† rfiDblGUjKWoKb† qbI† [„bboK† KWbKb† lf† Sjf‚Kb† 9oiq[oqjsDb}
xP_[PVxyie[xxP_EBpByRLQp )BiL *Xp}PpLPxPyIXE[iiPi^ŽpPsxPp
IK]† UKiEKWiqQKb† IDll† IWK† !qGUgiKWlEWbIqbS† €rfb† WbbKbz† UKj{
@P[x sopBIX_[IX}P[xPpPix~[I^P_iyiL LBe[x ByIX soŒxPp \e+mE P[„
Dql† QD]]Kb† [„bboK† $Kbb† lGUfb† ZKowo† lGUKWbo† IWK† 2Dj[olWoqDoWfb†
iPiVpm‹Pi4`ysoyi^xXBFPj [isEPsmiLPpPLBii }Pii[XpPyIX[i
iKGUo† WbloDEW]† qbI† IqiGU† IWK† 5jKWlEWbIqbS†sWjI† rfj†D]]Ka† IKb† []KW}
[ixPpiBx[miB`Pi;ixPpiPXgPiPxBE_[PpPi}m``x"mIXByIXLPp}P[„
bKiKb† =boKibKUaKb† IWK† 2„S]WGU[KWo† SKbfaaKb† DbSKaKllKb†
xP&pyiL\sxi[IXxVBiyiQqXPE_[IX2PEPiB__LPiyRVBEPiL[P[Xp
wq† jKDSWKiKb† $Ki† /fbwKboiDoWfblgjfwKll† sWjI† IqjGU† IWK† 5iKWl{
[e 5BXePiLPs 6xyL[yewEP}Œ_x[VPieŽssx }[pL PyIX VPiŽVPiL
EWbIqbS† ]KIWS]WGU† rKj]DbSlDao† DqQ† [KWbKb† 'D]]† DEKi† SKlofggo† ?P[xE_P[EPi yeBX_pP[IYP $BIPxxPiP[iPsBiLPpPi-BiLPsE}P\„
loKijKWGU† qbI† $KqolGU]DbI† UDEKb† Kl† IqiGU† WUjK† bDoWfbD]Kb† )K{
iPp BiLPpPi ,y_xyp ^PiiQi y /PpiPi yiL [ixPpiBx[miB_P ,mixB^xP
lKowK† SKlGUDQQo† IWK† 5iKWlK† Q…j† !…GUKi† Wa† SKaKWblDaKb† 9giDGU}
y ^iŽoRPi *IX XBxxP [i]QLPe $B_`P[iPxm_`P ?P[x [i#L[iEypVX yiL
iDqa†wq†lWGUKib† $Ki† @KSQD]]†IKi†!qGUgiKWlEWbIqbS†Wb†IKi† 9GUsKWw†
LPe5PsxLPs -BiLPs LPk [Xp LBi^LPp |[P`Pi ŠEPp_BiLEyssP  
Wlo† Q…i† IWK† EKWIKb† 9oDDoKb† [KWb† 5jfE]Ka† ID† WUiK† !qGUgiKWlK† Dq{
Xxxo}}}I\x€_[i^
 Imy^
  mLPp Xxxo}}}iBx[miB_PopPssIme
‚KiUD`E† JKj† * JqjGUDqn† TkKby…FLklHUiLXpLbJ† SLEqdJLb† tOiJLd†
`P[IXx PppP[IXPi ^iix yg PyIX LBii |mp 3px |mi LPp 6IXiXP[x
[„bbKb† $fGU† sqiIK† IWK† 5iKWlEWbIqbS† Q…j† !…GUKi† Wb† $KqolGU]DbI†
LPq 2Bxyp y ŽEPpPyVQi .P[LPp ^miixP [IX Bi L[PsPp 6xP_…
IqiGU†IWK†?KiDElGUWKIqbS†KWbKl†KbolgiKGUKbIKb†)KlKowKl†bDGU†Dq{
`P i[IXx |mi B_` eP[iPi #p`PEi[ssPi [e "PxB[_ EPp[IXxPi "Pi„
‚Kb† SKlGU…owo† sWiI† lWK† IKisKW]† IqiGU† IWK† ?KjƒbIKiqbSKb† DqQ† IKa†
imIX XmSRP [IX LBss [IZ PyIX L[P }PsPix_[IXPi *iRmpeBx[miPi
IKqolGUKb†!qGUaDi[o†rfb†WbbKb†UKiDql†EKIifUo†
i[IXx sIXy_L[V VPE_[PEPi G[i >Pii [Xp ]Pxx imIX ePXp ŽEPp eP[…
iPi ``xBV [i 6IXmxx_BiN PpRBXpPi eIXxPx LBii sIXByx LmIX
ByIX |me=PpXB`xPi LPp 6IXmxxPi Bi ysXB`xPsxP__Pi mLPp Bi LPi
&%!# * 3DbGv† 2„EKl† B† $WK† !qGUgiKWlEWbIqbS† Wa† IKqolGUKb† 9giDGUiDqa† qboKi† IKb† !KIWbSqbSKb† IKl† &qjfgƒWlGUKb† )KaKWb{
P[jRCKX eCb [j eP[jPh 3j`[jP:BWPH{KX |mi LCeC_u |mpEP[
,CuuPj [i 6yoPpeŒp^xPi ([Pp WPXx iŒeb[KX CbbPu uP[iPj WPmpL…
lGUDQoljKGUol† $Wg]faDiEKWo† Da† 'DGUEKiKWGU† 2KIWKb† IKi† *;@/† 1KWgwWS† B'*† #* )Q[† 5DbK]† 9KirWGKl† $KqolGU]DbI† &( !% *
Xxxo}}}Bi] BomPxsIXOPsIXmxx_BiL
 
jPxPi&BiV *eePp sIXi LPp 5P[XP iBIX 6xBxx P[iPp yiVPmpLiP„
'iDbwKb† *Dbl† @D]]KbQK]l† $WKoKj† 8qll† #UiWloWDb† B† 5jKWlEWbIqbSlSKlKow† $WK† 5iKWlEWbIqbS† IKl† "qGUUDbIK]l† *
qR]†
2BLBii ByRyiPyPi <UPpi
xPi 0PisIXPixpByEP R\iLPx eBj X[Pp Bi LPi ysXB`xPsxP__Pi yiL
2…bGUKb†!KG[† ?Kj]DS† 9† † † $Ki† 9DaaK]iKrKil† Wlo† KWbK† !…bIK]qbS† rfb† %WbwK]rKioiƒSKb† $Ki† !qGUUƒbI]Ki† rKigQ]WGUoKo† lWGU†
aWo† lKWbKi† =doKilGUiWQo† wqi† %WbUD]oqbS† IKj† QKloSKlKowoKb† 1DIKbgjKWlK† IWK† rfb† IKb† Wa† 9DaaK]iKrKil† DqQSKQ…UjoKb† ?Ki]DSKb† QKlo}
$ i]B4xsIX Esm_|Pix[i LPs 6xyL[PiVBiVs 0PL[PixPIXi[^LPp '9>, -P[o[V $ i]B4xsIX #$ 6xyL[„
SKlKowo†sqiIKb† 3KWSKi† 'K]Wu† <jDggK]† .flKQ† B† !qGUaDi[o† qbI† !qGUgjKWlEWbIqbS† Wb† IKi† 9GUsKWw† )qoDGUoKb† IKj† 5ifSbfl† )†
Pi]BXpEsIX_ysse[xBIXP_mpmSpxs 6xyL[Pi]BXpBIXP_mpmS 'mimypsiBIX=PpSBssPiP[lPp smVPiBiixPi9XPs[s "Bs#ypmoPBi
Q…j†IDl† !qbIKlDao† Q…i†/q]oqj† !Kjb† 9oqooSDio† @WKb† *Dqgo† 9†† 3AA† 4b]WbK† B† $WK† !qGUgiKWlEWbIqbS† Qƒ]]o† rfj]ƒqQWS†
!pPL[x:pBisRPp6€sxPe #!96 sm`_X[PpEP[s[IXPpsxP__Pi LBssL[P-P[sxyiVPi|mi6xyLPixPiBi 'nIXsIXy_PiLPs#ypmoŒ[sIXPi 'mIXsIXy_„
=81† UoogsssbwwGUsWDioWG]KQKraC†Uoa_† %#%&#* 9KUjlGU„b† =]iW[K† @W]]UKWa† .fUDbbKl† B† $Dl†
pByes|PpV`P[IXEBpyiLByIXVpPiŽEPpsIXpP[xPiLBipPIXPiEBp s[iL
bKqK†!qbIKlSKlKow†…EKj† IWK† 5iKWlEWbIqbS† EKW†!…GUKjb† B*jlS† @WjolGUDQol[DaaKi† loKiiKWGU† @WKb†f† ?†
-/1/718
!$!+%(,
*(!)#8
##") !"")
$%"!!.("!.!%.!.$&%.
$. "!. $.
&.$&'.$).%%.!%..&.$.!.
$!'$&.
. $".
!%. $&%&$!.
*. $%.
!%$.$&%&$.
!. %$. & "%#,$.
!")
%&'$&. %. %.'&. %)"))!#")
$. $"$&. #'%.
) #) !.$. #$. !($%&*.
#!)$") !)
! ) "$ #)
#!)$") $##)
!) !) $##') ")
#!#$!&"")"#))!))
$. !!"$. ''%-&+.
!""!.'!. 5 $%&+$!.
$!.
!"#) ()
!!) $") !)
/Wiugaan\d!slaHeNlnsN\OiOeseNlO\Nsel\LWOigJ\WiN\OlO-OiHslUgiNOiseVdO\lnOieuOiNOn !sLWd\LWWHJOeN\OlODuO\UOaVOhaHVn
{ˆOmFfCCFm %UfK‹OmxfMr{h@OF UfCFmFUfFblx=rUxMFmxKFf{xm‚
0Uv r@OhvvUr@OFf 5vxCFgvFf _hbbv b=f =aaFmCUfMr aFUCFm fxm
NgLW\LWWHJOOlVOuHVnseNJ\lwsdWOsn\VOe=HVe\LWnJOiOsn /d,OVOenO\a \LWu€iNOOl^ONOiwO\nu\ONOinse$OeeO\el\lnVHewl\LWOi
CF =f{Fa@OFm 5vFaaFCFrxbK=rrFfCFf &hmbxa=mr ,mFxFMFb=@Qv
r@O{Fm Uf ,hfv=_v #=r d=M xb %TfFf C=m=f aTFMFf C=rr =f CFm
,HewVbO\LWU€iuOaLWOl2HeNseNuOaLWO?e\tOil\n~n\WiOsLWOenlLWO\NOn \WiuOiNOn\d8HLWW\eO\et\Oaws Oiw~WaOeWHJOe
>{ >FrvTbbvF *fKhmb=vUhfFfFUfMFvm=MFf{FmCFfb‹rrFf C=bUv
1=kUFm 8fUzFmrUv~ {UCFm %m{=mvFf CUF UfvFmf=vUhf=aFf 5vxCFfvFf
CUF5vxCUFfMF>‹OmFfFmrv=vvFv{FmCFf
{TF &m=fhrFf xfC !OUfIrFf Uf CFm †>Fm=Oa {=mFf ;xb fCF‚
al <nsNOen\e NOi 6ON\OenOLWe\_ usiNOd\i\d BOiaHsUNOl<nsy
N\sdl dOWi seN dOWi JOuslln NHll Ol U€i ws_€eUn\VO 6Oy
J\lWOi\VOi!slJ\aNseVl seN<nsN\OetOiaHsU\e_asl\tONOi
./!&+(!&#8,$-/"#/2,%#,8
'xvF %fMaUr@O_FffvfUrrFrTfCf=v‹m
mFf b=fMFav Fr =>Fm =x@S FUfK=@O =b *fvFmFrrF rFUvFfr CFm OFUbU
!eVHJOlgVOeHeenOi2O\lnseVlhse_nO GLiON\nhg\enl
aU@O FUfF {U@OvUMF 9hmm=xrrFvxfM K‹m FUf 5vxCTxb Uf 5@Ohvva=fC
r@OFf 5vxCFfvFf bTv =fEFmFf 1=vUhf=aUvˆvFf ,hfv=_v x _f‹kKFf
N\OedHeHVOi
WOsnwsnHVO
e\LWn dOWi *fCUFf
HabO\e NHisd VOWn NsiLW
‹@PFm ;FUvr@OmUKvFf
xfC ;FUvxfMFfUf
!sUa\lnseVNOi U€iOsLW\enOiOllHenOe ?e\tOil\n~nOe seN 1silO
>Fm a=rrv Fx@O MFr=Mv rFUf C=rr xfrFmF 5km=@O_FffvfUrrF bFUr
8fC rh _=b Fr C=rr U@O PFxvF FUMFfvaU@O fxm =xK FUfF mU@OvUM KFr
nOLWe\lLWOl 1eguWgu seN 1iOHn\t\n~n ws €JOiwOsVOe !sLW uO\y
hOilea\LWOl 6gn\tHn\gellLWiO\JOe
vFfrMFf‹MFfxb C=r 5vxCUxbFmKhaMmFU@Ox=>rhazUFmFf %r {ˆnF
vF CFxvr@O
r@OhvvUr@OF &qFxfCr@O=Kv xm‹@_>aU@_Ff _=ff xfC =aaF
nOiU€WiOeNO 1Oeene\llO \eNOe "OiO\LWOe "Oni\OJlu\inlLWHUo 6Hiz
;OUOiOewO\eOl :igUOllgilgNOi !iJO\nVOJOil
_On\eVseN
,OhHHin
f *fCUFf6HeHVOdOenl\eNWOsnwsnHVOVOUiHVnOiNOee^O
aF>Ff OFxvF Fv{= 88 0UaaU=mCFf /Ffr@OFf ;{FU
#mTvvFa
u\iNdHetgeA
lLWa\O}b\LW€JOi
/lnd\nNOi"OuOiJseVHaaOl
%}Fbka=mFf %Tf x@O zhfCFbbFOm=ar
8
%}Fbka=mFzFm_=xKv
{=m MFahMFf {Fff U@O >FO=xkvFf {‹mCF =aaFr aUFK kmh>aFbahr
=fCFmFf &mFxfCFUf=fCFqFf -ˆfCFmf CTFrFm :Fav>FOFUb=vFv rUfC
JOtgi
l\O \e "€LWOie tOiUUOena\LWn uOiNOe /e NOe W\eN\lhiHLW\y
>Fmr@Ohff=@O{FfTMFf:h@OFfO=vb=frU@OrFa>rv=fC=r
&=@O
NOiuO\lO
N\O 6HbHvHaHd=HVOlwO\nseV
{7HaHvH /=rrF
6HegiHdHx N\O
>Fm {TF r=Mv
b=frh r@QŠf -UF>Fm ,a=rrFrv=vv

6\aa\geOe 2OlOi WHn G
6HaHvHaHd \ln N\O <hiHLWO
N\O \d
,8!&-11*,"8012"(#/#,8
'#(618#(%#,017,"(%8012"(#/#,8
:FffTOmUf
d\n
dO\eOi
8OsV\Oi
HsU
UiOdNO
1sansiOe
seN 6OenHa\n~nOe
Oenz
8
0UaaThfFf
/Ffr@OFf
O=>FfxbUfCFrv
C=zhf
=arh
bFOm =ar
O\egNOidOWiOiO<nsN\OehaHnwHeVOJgnO\eUgid\Oin!_wOhn\OindHe
{FmCFf MUav =ar FrvrFaaFm %UfUMF {FfUMFxvhmFf {UF CFm >FfM=
VOe
,OJ\OnOe
lh\Oan 8fC
N\O =x@O
2\nOiHnsiwO\nlLWi\Un
O\eO u\LWz
zh_=>xa=m
MF{ŠOfv
C=r 9FmK=rrFf{.Hklx
zhf )=xr=m>FUvFf
Uf
lLW\ON
\LW d\LW NOlWHaJ
U€ixfC
O\e!slbHeNllnsN\sd
He
NOi
"sl\eOll
8
8fUzFmrUvˆ
'mxfC_FffvfUrrF
Ub -FrFf
5@OmFU>Ff %r MU>v
N\OlOseNOiW~anNHwsO\eC\aa`gddOellLWiO\JOeNOiVOu€elLWnOe
aUr@OF 5@OmUKvrvFaaFm 5xfUa '=fMhk=CO~=~ r@OmFU>Ff 3hb=fF zhf
n\VO
;gaaO \e
"OeVHaOe
WHn
N\O n~V\V
OilLWO\eOeNO
EO\nlLWi\Un
FfMaUr@OFm
5km=@OF
MFOv
aFvvFf
%fCFr aFU@OvFm
zhf CFm
)=fC =ar
l€N\eN\lLWOe
"seNOllnHHn 1OiHaH
VOlhigLWOe
u\iN=yK
/e 1OiHaH
aOz
5@Ohvva=fCrvxCUFmFfbŠ@PvFv
b‹rrvUOm
Fx@O =x@O
FUfF=fCFƒ
*H`san~n
NOi 8Hh\Oi@e\tOil\nv\e
&N\eJsiVW!e N\OlOi :HineOise\y
8 !haaFMFr *fCUFfzFmK‹Mv=arh‹>FmFUfFfhmbFr
vFfxfCFv{=
?e\tOil\n~n
_gddnNOi
:glnJgnOtgeeseHeUnOi
tgiJO\
Ji\eVn
>Ur 8
%}Fbka=mF zFm_=xKv {FmCFf
seN
#h@O
CUFr
CFfFf 8
{$OlWxVig}Oe)\eUasllDsu\LWn\VOe
b=fFr xzhmFm{=mvFvOˆvvF 1xm /xv+O\OinHVOe \e"OeVHaOetgi
JOe
esi  6\aa\geOe 7OelLWOe NgLW UHln HaaO 1OiHaOlOe _eeOe
mFmvCFr5vxCUFmFfrFUfrvFaaFf5FbUf=mFxfC9hmaFrxfMFfCUFfFf
l\LW d\i N\O
6Va\LW_O\n d\i JOw€Va\LW
NOi
tOil\n~n
NOi 2hvFfvU=a=f
x@OJgn
;FUvr@OmTKvFf
xfC;FUvxfMr_ˆxKFmf
+FCFr+=Pm
wHWaiO\LWO
/eUgidHn\geOe
wsi @e\tOil\n~n
ws <nsNOenOeugWeWO\z
rTfC xrf=ObFf
%r {UmC MFr@Oˆvv
C=rr fU@Ov
zTFa bFOm =ar FOf
HaaOd
ws {$siVH
Halg
wsd *Oln
,nn\e$siVH
MFMm‹f‚
Ji\eVOe
12"(#/#,8
,8 "#/8:s^Hx
.(#/8
,(3#/0(148
(,8NOi
"(,
2/%&8 8
aOlOeseNlLWiO\JOe
1OiHaH\lnNOi
"seNOllnHHnd\nNOdWLWlnOe
OUFmFUMFfvaU@Ofxm=ar
-FUvK=CFf #Fm{FrFfvaU@OF7FUaCFr5vxCUxbr
<nsN\Oe\eWHanO
dO\e VHew
{#slngd\lON zhf
:igViHddOx
Fmr@OFUfFf 8
‹@OFm\eN\t\NsOaaOl
bUv FUfFm 'Fr=bv=xKa=MF
8 /UaaUh‚
dOe
gNOixvhmFf
wsi &\eU€WiseVlugLWO
$OiaF>Ff
<nsN\OeJOV\fe
\d !slaHeN
UfCUr@OF
zhf UOmFf ‹@OFmf
_ŠffFf xfC
CUFr zhm
t\OaODO\nlLWi\UnOe"O\aHVOed\neOsOe
&iw~WaseVOeseN,ON\LWnOe
CFv xbK=rrv CTF 1=kUFm 8fUzFmrTv~ <Ovvk{{{f=kUFm=@x_
OFxƒ
"\aNseVle\tOHs
\e /eN\Oe ?eN
NHl /enOiOllO
He 2\nOiHrsi
\ln
{UmC Cxm@O 5Fa>rvrvyCUxe
xfCHsLW
%UMFfTfUvU=vUzF
>FrvUbbv
)Fmzhmm=‚
wslHddOewslnOaaOe
seNMFOŠmv
d\LW ws_seUnlgi\Oen\Oin
HsU JOln\ddnO
fFf %}Fbka=mFf #=bUv
*fCUFf x CFf MmŠ‡vFf
‹@OFmkmh‚
CO\nOiO /eUgidHn\geOewsi
"OuOiy
i€L_nNHd\n\eViO\UJHiO
8~WO
=aaFb Cym@O =xraˆfCUr@OF
-UFf=xrM=>Ff
%r MU>v #U@OvFm
CTF
!s}OiNOdOiUiOsOel\LW
\e5h@U=a
O\e\VOe2HeNOlnO\aOeN\O
{2\nnaO
6HVHz
5@UFf@Fr %fMTfFFmUfM
8 !hbkx‚
vF zUFm &=_xavˆvFfmvr 8
W\OiNOsna\LWWWOiHal\eHeNOiOe>O\aOeNOl<sJ`gen\eOenl
Bge
MFfCF9hm=xrrFvxfMFfKŒm FUf 5vxCUxb CUFrFm mv >UFvFv CFm
bh‚
*~LXOi
ws CFm
_gewOeni\OiOe
N\ObFOm
O\eO l\eetgaaO
)iV~ewseV
dO\eOd
CxFfvFf
:Fav %r MT>v
=ar 8
9Fma=MF ws
#UFr
rTfC
JseVU\eNOn\WisenOi
$$ (((&#& $\O-gLWlLWsaOe\e
bUv CFf OŠ@OrvFf -UvFm=vxmkmFUrFf
=xrMFFU@OfFv
{xmCFf xfC zhf
w\eOlx
Vig}Oi
/erh{TF
1Ha_snnH
lgba
Ol  N\OlOi
\e
vTfM )F=avO
8 "Oa\OJnWO\n
-UKF 5@UFf@Fr
CUF HaaO\e
1=kUFm
8fUzFmrTv~
xrTfFrr
NOe
OeVa\lLWlhiHLW\VOe
=HVOlwO\nseVOe
WHn N\O
{=\dOl gU
ceN\Hx
CFmfF
!=bkxrCFm 1=kUFq
8fUzFmrUv~ xrUfFrr
5@Ohha=b
5v=fChmv
J]lWOi]VOe
Ubkhr=fvF6ON\OepOMWe]`lpsN]sdNHilpPaanPe
;=OaFf fCFmFmrFUvr Urv *fCUFf TbbFm fh@O FUf -=fC
,ig}Ki\pIee]SeU]eHew\OiOel\LWwsd=O\aHsl
,OJ€WiOeN\OtgeNOe
%}Fbka=mF zFm_=xKv
CFmFf :Fm_Ff TfrMFr=bv fU@OvbFOm =ar 8
seiOVOad~}\VOe
!Jln~eNOe
seN \e VOi\eVOi
!sUaHVO OilLWO\eOey
5@Ohha 9FmvFUav=xK
=@Ov 5v=fChmvFUf
%CUf>ymNOfGObGf
RUGm]‰Om„
N\O
WLWlnOe BOi_HsUlwHWaOe
 usiNO l\O n~Va\LWtge
 6\aa\y
…"m=TNahA_O=mw€
#UFrFn ?JrwXAOvfUAOwfxpCxpBP
tFUfFm@OVvF_vxm
Uf DFc DTF mbxw rFOm
rv=o_
zFp>pHUvHv Urv xfD
C=rJOtgi
VaDxfMrr~r‚
(!&#'!!&
$&,!$gLW
Ol aglz
<nsNOenOe
VOwHWan
uOiNOe $\O -WO
NOi
<nsN\OeVOJ€WiOe
{xmDFf $=r
'Fr=bvFUf_hbbFf
CFr
>F_=ffvFf
#U@OvFmrG=s\n\ge
3=b=‚
$\O "ONOsnseV
NOi =HVOlwO\nseVOe
NOe
DO\nlLWi\UnOe
VOJOe
aT@O TfrMFr=bv
8
5vxCFfvFf
C=r xbK=fMmFT@OF
5vxCUFf=fMF‚
geOe
6OelLWOeVOaOlOe$Hd\nlnOWnl\OOilnHewOWenOi<nOaaONOi
QYf=xr‹>Fm FUfF>FbFm_Ffr{FmvFvF@OfU‚
rhfCFmfzFmK‹MvC=m‹>Fm
VOWOe
seN
\LW N\O ;O\lO HeniOnOe
_geenO dsllnOe
eHn€ia\LW HsLW
vFbzUFaF
/ˆfMFa=xK{FUrv
#UF )ˆaKvF=aaFm
,UfCFm>mU@OvCUF5@OxaF
+OOl\lnNHJO\
lgugWa tge NOi
<nHHnlHeVOWi\V_O\n
NOi<nsN\OeJOy
_=fv 3=vO=xrCFb9Fm_=xK
rFUfFm
‹@OFm >FvmˆMvxbMFmF@PfFv
8
WHn
NOe
tOiVHeVOeOe
0HWiwOWenOe
lnHi_ wsVOegddOe <LW~ny
>hv \e
=xr
‹>Fm
8 =@OFahm
xfC 0=rvFmrvxCUFfMˆfMFf{=Om
#=
dO\ln
VOaOlOeOe \eN\lLWOe
B\Oi
-\eN\ wuO\
6Hz
r@OF xrrv=vvxfM
xfC ‹>Im=HVOlwO\nseVOe
FUf xbK=rrFfCFr
U>aUhvOF_r
xfC
*f
aHvHaHd
O\eO =Hd\a
O\eO =OasVs
seN
O\eO 6HiHnW\EO\nseV
Oiy
Khmb=vThfrr~rvFb
rh C=rr
fU@Ov fxm
=OamFU@OF
‹@OFm rhfCFmf
O\e\VO
VO_a~in
uOiNOe
$\O !ewHWa
NOixfC
HslwsU€aaOey
>Ur xm*gidHa\n~nOe
K‹fKvFf ,a=rrF
=> 8fC
zhf CFfFf
CUF aFrFf
r@OmFU>Ff
uOiJOiHalHsLWtgeNOi!inNOl<nsN\OeHsUOenWHanOl
G@eNOiViHNsy
%xmh 'xvF y@OO=fCaxfMFf MU>v Fr Uf #FaOU ,=a_xvv=
/xb>=U
wseVOe
ws
*gaVO aOlOe
dOWi
Hal  6\aa\geOe
/eNOi
iOVOad~}\V
U@O bU@O
{ˆOmFfC
bFUfFm
xra=fCrrFbFrvFm
=xK
5vxCUFfr@O{Fm‚
NOe
+gidsaHiO
^ONgLW
€JOil\LWna\LW
seN
N\O ?enOiln€nwseV
He
_ŠffFf
_=xKFfuHi
rU@O
fxm {FfUMF
\Fb=ar FUf
=frkmx@OrzhaaFr
x@O
HnO
gNOi
,HlnlnsN\sd
HJW~eV\V
$gLW_O\eO
"HeVO
xfC:glnViHNsHnO
FUfUMFf {FfUMFf
=fCFmFf
5vˆCvFf
frhfrvFf
Urv Fr hKv
fU@Ov
O\eO
DO\nseV
$\O WLWlnOe
BOi_HsUlwHWaOe
WHn N\O =HVOlwO\nseV
kxf_vF
_hfFfvmTFmFf
{haavF
CUF Ub /FCUFfvF@OfT_rvxCUxb
CFm
iO\LWOe
dOWi &=@P=mvU_Fa
5OlOi EslHddOeUHllOeN
a~lln l\LW
lHVOe NHll
=x@O =_vxFaaF
rUF>Ff 7=MF CUF :h@OF
xMˆfMaU@O
rUfC
C\ba dHel\LWU€iO\eOe
NOi
h\Oi?e\tOil\ov\e
&N\eJsiVWVig}
*fCUFf Urv FUf
#UF8H
0FOm=Oa
CFm 2x>aT_=vUhfFf
rUfC 5@Pxa>‹@OFm
'A<nsNOenOe
N\O He @e\tOil\n~nOe
<LWgnnaHeNx
O\e
BgaalnsN\sd
aFU@Ov =frkmx@OrzhaaF
3hb=fF hCFm\e
5=@O>‹@OFm
Fm{Fm>Ff
%r
{$H\e\_
0HViHex
N\O>{
HsU -\eN\
/d 0HWiO
 WHnnO
l\O
8 -FUkTM
fU@Ov
fU@OvOilLWO\en
Uf zhaaFb 8bK=fM
MFaFOmv
{xmCFf
l\LW
NOi "OiO\LW
NOi :i\endON\Oe
\e /eN\Oe \d
?dJisLW JOU\eNOn
FxmFFUMFfFf
-FmfbFvPhCFfxFfv
5hbUvO=>vUOm
CUF
<nsN\OehaHnw
\e
<LWgnnaHeN
JOuOiJOe
U€Win NOi{FmCFf
COV \e NOi
;OVOa
.=fC Uf CFb
=OamFT@OF
5km=@OFf
MFrkmh@OFf
%r MU>v
8
HsUeOWdOe
JiHsLWOe
N\O
<nsN\OeVOJ€WiOe
e\LWn lOaJln
wswHWaOe
MU>v =OamFU@OF
5vˆCvF
Uf CFfFf bFOmFmF
/UaaUhfFf
/Ff‚
TfCUr@OF
n~Va\LW

6\aa\geOe
2OlOi
 JOnisV
N\O
DHWa NOi iOVOad~}\z
Ffvr@OUFC
T@O
bU@O K‹m
FUf 5vxCUxb
=f CFm
{FUvMmŠ‡vFf
&=_xavˆv
$\O
=HVOlwO\nseVOe `geenOey
\WiO
BOi_HsUlwHWaOe
\e eOsOiOi
EO\n
{T@_FafxfCFfvr@PFTCFv>Zr
FUfFb
MF{UrrFf 'm=C
rFa>rv {=ff
€JOi
NOe
{?e\tOil\n\Ol
HeN
#gaaOVOl !Nd\ll\ge
<Oit\LO )=xkv
xfC
)xfCFmvFzhf
1F>Ffrkm=@OFfyfC
#U=aF_vFf
&‹m Fv{=
(!#- *
$\OlOuOiNOe\N
;\e tgabOi .WOtge NOi %&$r@OFfaF>FfxfCUfCFfFfFrCh@O_FTfFFUfUMF
x@OO=fCaxfMMT>v
VOe
3OlOi 
6\aa\geOe
tge U€eU 0HWiOe
CFm 1=kUFm
8fUzFmrUv~
CFm/eeOiWHaJ
1=kUFm 8fUzFmrUv~
xrUfFrr_geenO
5@OhhaN\OlO
)UFm
Oegid
lnO\VOie
$Oi BOi_HsU
tge "€LWOie
\ln egLW iOaHn\t
VOi\eV
xfC xfvFm
;xOUaKFf=ObF
|Fa@OFm
*fKhmb=vUhfFf
Fx@O bUv
CFf
%\OlO
wOeoiHaO
]lo
HsLY
]eqQjeHp]geHaOe
<psN]ReJOz
8 2mhFfv
CFm!edOaNOloObaO
*fCFm Urv )UfCU
CTF
0xvvFmrkm=@OF
fCFmF
{U@OvU
F<!!<
ZpphuuulpsNOeplshhgiplHHlVgts`
)"- %Uf CFm
CUF :Fm_F
CFm kmFUrMF_mŠfvFf
UfCUr@OFf xvhmFf MF_=xKv
ET]pseVN]ODHWa\ZiSi
7\n  6\aa\geOe2Oy
{GmDGf zFnsAOUGCGfG4SmSiIalgtOiNghhOae
=@OGahn xfC 0=rwFmrwxDUFfMˆfNF
Uf Kia‚
$gLW\lnwsOiuHinOe
NHllOlW\Oiws_€eUn\VO\eO<nO\VOiseVVOJOe
5vyDFfvFf Tb CmUvvFf 5vxCUFf\=Om b‹r‚
5vxCUFfUfO=avFf>FL=rrv
uOiJOie
JO\ NOi !sluHWa
<nsN\OeVHeVl
seN NOi -gLWlLWsaO
MF 4FMUhf=arkm=@OFf
rWfCNOl
FfM=aT
/=m=vOU 7FaxMyxfC
7=bUa 1xm
€JOiegddOe
\elgUOie
N\O
<nsNOenOe
O\eOe OenlhiOLWOeNOe
{FmCFf _ŠffFf
8fC Uf
aˆfCaU@OFf
'FMFfCFf
rUFOv Fr fh@O !ez
zUFa
lOie
GUgaVn {$H\e\_ "WHl`Hix O\eOuO\nOiO -\eN\DO\nseVHsU
MFfCFf5vxCUFfKˆ@OFmf=fMF>hvFf
u\iN
NOee
Ol V\Jn \e /eN\Oe5FbFrvFm
O\eO uHLWlOeNO
DHWa tge 6OelLWOe
8 /hCxaF>FaFMFfxfCO=>Ff
rFfOTFm
>FUrkUFar{FUrFkmj
JOW\aUa\LW
lHddOan
"OuOiJseVOe
U€i BgaalnsN\Oe
seN
lgin\Oin
K‹m {FfUMF
*fCFm UrvHaaO
%fMaUr@O
CUF /xvvFmrkm=@OF
#h@O
{FmCFf
CTF
niHV
lnOaaOe=xr
seN JOln\ddnO
BgiHsllOnwseVOe
U€i
O\eO U\eHew\OaaO
r@OaUbbFm
#Fm 8bM=fM
bUv .UvFm=vxm Tf
*fCUFfxfvFmr@OFU
:aHnw!sLWN\OlOEO\nseV_geenO\[iOBOi_HsUlwHWaOe\eNOeaOnwy
/=f=MFbFfv
N\O
Ol l\LW
aO\lnOe
_eenOe
a\nOiHi\lLWO
COi_O seN<HLWJ€LWOi
ws
8
9hmaFuyfMFf
>{ 7xvhmU=ar
kmh :h@OF #=m‹
Tf CFm
5xbbF
l\O
eHLW O\eOd
8sdOisl#aHslsl<vloOd
lnOaan
NHU€i
O\e
bFUrvFf
{TrrFfr@O=KvaU@OFf
‹@OFm =xK %fMaUr@O
zFmK=rrv
CFff
?enOiln€nwseV
OiU€aaOe
CFvrT@OUfzUFaFm
)UfrU@OvzhfCFb\FfUMFfUf%xmhk= &m‹OFm{xmCFf
nOe 0HWiOe
lnHi_ lnO\VOie !e Ni\nnOi <nOaaO lnOWn €JOiiHlLWOe
/=m_FvUfM
OiuOiJOe
>Fm OTf=xr{FmCFf@=
8 6vxfCFf %UMFfrvxCUxbkmh /hCxazFm=f‚
lhOw\OaaOl
*gidsaHiwsiBOiU€VseV\eNOd
UgaVOeNO
/eUgidHn\geOe
%fMaUr@O Urv
CTF ,hbbxfU_=vUhfrrkm=@OF K‹m
:UrrFfr@O=KvaFm
xfC
OdhUOWaO \LW NOe
!eniHV wsi (ilnHnnseV
<nsz
aUvFm=mUr@OF
:Fm_Fzhm{UFMFfC
=xr{FfCUMMFaFmfvxfC
>FUNOi
k=rrFf
- ,OeOiOaa
O\eVOniHVOeuOiNOed€llOe
*fvFaaF_vxFaaF -UvFm=mUr@OF:Fm_F{FmCFf zhm{TFMFfC UfCFf 3Fƒ
N\OeVOJ€WiOe
VOdO\elHd d\n
BOiniOnOie NOi O\VOeOe ?e\tOil\n~n
CFm 'FaFMFfOFUvzhmMFvm=MFf
1h@OOFxvFUFOFfFrCTFbFUrvFf
*f
&$!#Wi\ln\He CO\} 2\nOiHnsiu\llOelLWHUnaOi seN -\lngi\_Oi Hsl rU@O
.O\NOaJOiV
/d 9_ngJOi
Vi€eNOnO
Oi NOe
$iHshHN\ BOiaHV
3F@OfyfMr{FrFf
FUMFfrvˆfCUM
Uf CTF
^F{FTaTMF
/=vFmUF
FUfx=m>FUvFf
9hmaF‚
MUhf=arkm=@OFf
hOilea\LWO$HnOeu\OBgieHdO
8HLWeHdO !elLWi\Unslu
zFmK=rrv #UF Cxm@Or@OfUvvaU@OF
9Fm_=xKr=Oa zhf
HslwsU€aaOe
"OlgeNOil .FrxfMFf
W\aUiO\LW UHeN
\LW \e =ar
N\OlOd
EslHddOez
CFm zhm x ŠKKFfvaT@OFf
x MFOFf
x )=xrF
‹@OFm
$\OlOi
BOiaHV tOiUUOena\LWn <HLWJ€LWOi €JOi /eN\Oe seN |JOilOnwseVOe
\eN\lLWOi
3\nOiHnsi
\el
$OsnlLWO
GuuuNiHshHN\tOiaHVNO
9ha_r{Umvr@O=KvraFQmF
rxfMFf
xfC 7xvhmT=ar
zhm
hCFm
f=@Ox>FmFTvFf
rh{UF CTF zhmMF‚
:Fm_Ff
VOu€elLWnOl
&\eln\OVl^HWi
>FCFxvFfCFm
5@OmUKvrvFaaFm aUFMv {Ur@OFf 8 xfC 8
WHeV
O\eO!in
BgiaOlseV \d
2OLnsiO
= WOHniO NOi
?e\tOil\nv
.UvFm=mTr@OF
:Fm_F
Fmr@OFUfFf
hKv8Hh\Oi
Uf ;FUvr@OmUKvFf
x aFrFf
!#Xi\ln\HeCO\}
%fvmFkmFfFx
mrOUk
7hxmTrbxr
r@Oa=Mv rh C=rr b=fCFf (mh‡vFUa CFm 5vxCTFfFUv C=bUv zFm>mUfMv
r@OmUF>FfFf )=xr=m>FUvFf hKv &=aarvxCTFf x >F=m>FTvFf arh
#0&;
&(+(1+4
(,.+8.;
$!
4
$&)$&&)
#&)
!#'#$''')
%$ '"#%) #'%#'$#!)'!(#)
%) %# (%'%) ("&&)
)>H`x H[`x !3T<HY3x )>Tx !H`HTE36>YHTx<>[xHT<H[8E>Tx/>YL3D[x E3`K3Lx )>TxQH`x)H`jxHTx3LKc``3x>Yx />YL3DxWc6LHjH>Y`xcT`>Yxjg>Hx "3Q>Tx
&64-&;"9&&&;!;0; &-&;0-;&;&+&; -.&;
4GtcŒ Q‰kŒ PYTPePŒ epnJWPYNteTPeŒ =PkWPYkGpPpPŒ kGtPeŒ vPkNPeŒ
)`Y>>x cT<x )3Qi3x )`Y>>x E3`x [H8Ex 3c@x )`c<H>Tx v6>Yx <>Tx )`3`c[x HT<H[8E>Yx Y3c>Tx [VgH>x 3c@x H`>Y3`cYx fVTx Y3c>Tx [W>jH3LH[H>Y`x gtEY>T<x
0&; -(,; #.-; +0#; 0-.&; 0&; ,&; -(6#&; /7
HPYniYPanvPYnPŒ gQpŒ TPzvteTPeŒ PYePeŒ vPYHaYJWPeŒ ˆptnŒ GHztpkPY~
)3Qi3x +H`>Lx v6>Yx [VjH3L>x />YtT<>YcTD>Tx HTx T<H>Tx [VgH>x H`>Y3`cYx <>Yx [VD>T3TT`>Tx q.T6>YvEY63Y>Tkx V<>Yx q3LH`[kx f>YL>D`x !3T<HY3x
.0-; 2+--,&; ,-4&/; #&-%; -; -/&&"&; &;
HPeŒ NYPnŒYnpŒzvGkŒuPkHgpPeŒ GHPkŒNYPŒ!PnPpzPŒaGnnPeŒnZJWŒnJWvPkŒ
)>Tx g3Yx 3[`x <>[x HTL3<cTD[WYVDY3QQ[x <>Yx Y3TK@cY`>Yx c8EQ>[[>x TT3`EYHTx t@T>Yx E3`x [H8Ex <3Yv6>Yx QH`x HEYx cT`>YE3L`>Tx
&&;
NtkJWnPpzPeŒ GnŒ =PkW…apeYnŒ zvYnJWPeŒ NPeŒ !PnJWaPJWpPkeŒ YeŒ NPeŒ
PeŒ GaYpnŒ TPWpŒ PnŒ vPnPepaYJWŒ HPnnPkŒ GanŒ Qk‰WPkŒ vGnŒ cYpŒ PYePkŒ
kPYJWPeŒ teNPnnpGGpPeŒ "GkxGeGŒ teNŒ 2te^GHŒ YnpŒ PknJWkPJ_PeNŒ
tJWYeQgkcGpYgenzPepkPeŒ vtkNPŒ YeŒ WYeGŒ TPpGeŒ ) vtkNPŒ NGnŒ
PngeNPkPeŒaPe_PeŒ YPŒPYTPepaYJWPŒkHPYpŒ NPnŒ 0PvŒ Bgk`Œ aYPTpŒ
3tgpPekPTPateTŒztŒ
pteŒ WGpŒ
NYPŒ HTx
YeŒNPkŒ
QPnp}
c[L3T<[>Y@3EYcTD>Tx
[HT<x
<>YxYeNYnJWPeŒ
E>c`HD>Tx=PkQGnnteTŒ
1>H`x >HTx gH8E`Hn
)
-…NJWPeŒcT<x
TPTPeŒ
) 'teTPeŒ !3Tc[KYHW`>x
@YJWpYTPŒ kkteTPenJWGQ}
>c`[8EL3T<x
E3T<D?[8EYH>6>T>x
<H>x >Y[`x QvEn
2P_YeTŒ
TPTk‰eNPpŒ
npPWpŒ
$$+)$4
1$(4PkŒ
4JWYePnYnJWPŒ
',!/($4 -Gk_pŒ
3(4
.&$4YccPkŒ
(,$4egJWŒ
,$4
NGcYpŒ
YcŒ =gkQPaNŒ
ugeŒ *YzPezuPkcYppateTPeŒ
GztŒ TPWˆkPeŒ
zŒ NYPŒ
cT<x K>EY`>x
>Y[`x T38Ex6[8ELc[[x
R>HT>[x )`c<HcQ[x
T38Ex T<H>Txjcm
TPnJWkYPHPeŒ
YnpŒ %eŒ cGeJWPeŒ
AGWa`kPYnPeŒ
_ˆeePeŒ
GaYpnŒ
D>Yx 3YYH>Y>63c[`>HTx
1c<>Qx
EHL@`x >[x g>TTx
Q3Tx etkŒ
g>THD[`>T[x
pPeŒ
[3QxkGtPeŒWGHPeŒCtTGeTŒztŒGaaPeŒTPnPaanJWGQpaYJWPeŒPkPYJWPeŒ
D>`HWW`x g>Y<>Tx Qv[[>Tx [HT<x TH8E`x cTD>guETLH8Ex vYx 3LM>x
tepPkŒnpGGpaYJWPkŒ(gepkgaaPŒ
PepvYJ_PapŒnYJWŒGHPkŒNPeegJWŒkGiYNPŒ
nŒ
*&"4 4 4 +,+&$4
(4 $*$4 (,4 +#+*($4
nPYpŒ
PYeYTPeŒ
'GWkPeŒ
cYpŒ Tkg„PcŒg3Yx
kQgaTŒ
NtkJWTPQ‰WkpPeŒ
<5*P_pg}
Yv8Kx
H>x HT<H[8E>x
>[>LL[8E3@`x
QHYx
HTxfH>L>YL>Hx HT[H8E`x
@Y>Q<x
TPv…WapŒ
vPkNPeŒ NPnvPTPeŒ
uYPaPŒ
GaYpnŒ
ngvgWaŒ kPTYg}
>HT>x Y>Q<[WY38E>x
[>EYx Dc`xHP`aPYNPeŒ
6>E>YY[8E`x
vYx
<>Tx />YL3D[E>Y[`>Ln
4tcGŒ
2GaŒvGkŒPYePŒnPWkŒGePk_GeepPŒ
4YJWpPkYeŒHPYdŒWˆJWnpPeŒ!P}
$YV6L>Q>x
E3``>x H8Ex >HT?Tx T[WY>8EW3Y`T>Yx
<>Yx QHYx 6>Hx Y3D>Tx
TYHpŒ
PYePŒ npGGpaYJWŒ
QPnpTPaPTpPŒ
CGWaŒ
ugeŒ =PkaGTPeŒ
PYePŒ
&5/}
,0(#4
+(+,(4
.&$4 "+*4
&(,#4
+4 *4 $4NYPŒ
($4
3($4
kPekPYnPeŒ
=PkaGTPeŒNYP\PeYTPeŒnYeNŒ
NYPŒS‰kŒNPeŒ
D>gVY<>TxGŒ*P_pgkPeŒYeŒNPeŒ
`YV`jx 3LL>Yx !V<>YTH`t`x
WYtD`>Tx >TK[`YcK`cY>Tx
3c[x
eGaŒ
GanŒ`iWH[8Ex
GtJWŒ GtQŒ
HteNPnnpGGpaYJWPkŒ
HPePŒ
igaYpYnJWPŒ
‚cpPkŒ
M>Yx 3M[x
<>c`[8E>[x
$EtTVQ>Tx g3Yx
>[x fVTx
T@3TDx 3Tx
KL3Yx
kYJWpŒ
NPnŒ +GeNPnŒ nŒ TYHpŒ vPYHaYJWPŒ
-YeYnpPkŒ
YeŒ NPeŒ 4PTYPkteTPeŒ
!>HTx
3cW`3c@D36>TD>6H>`x
L3Dx
KVQW>`>T`xg>H`>YE>L@>TxKVTT`>x
0tccPkŒ
$,4 teNŒNGcYpŒ 2tHaY_GpYgengipYgePeŒ ztTPgkNePpŒ HP_gccPeŒ
Ye`GtQŒ
ugeŒ
ƒHPknPpzteTPeŒ
NYPŒ =gknJWa…TPŒ cGJWPeŒ
aYPTpŒ PnŒ
eGWPŒ
@>c<3L>Tx
1>H`>Tx
<H>x jgH[8E>TQ>T[8ELH8E>Tx
>jH>EcTD>Tx
[VgVELx
4Œ
(Œ 0GkGxGeGeŒ PYeŒ Qk‰WPkPkŒ 2k…nYNPepŒ vGkŒ PYeŒ
GaYpŒ tJWŒ YeŒ
<3[[xH8ExHQxc[L3T<x<H>[6>jvDLH8ExK>HT>xDYVs>Tx
Y@3EYcTD[[8Et`n
ngvYPŒ
=PkH…eNPŒ
NYPŒ ugeŒ kGtPeŒ
vPkNPeŒ
HPkŒ 3c8Ex
vgŒ NGnŒ
HQx >Y>H8Ex
<>[x >K`VY3`[x
gV6>HxTPQ‰WkpŒ
<H>x >K`VY>Tx
jcDL>H8Ex
3L[x
9kgpzŒ
NYPnPkŒ
kPTaPcPepYPkpPeŒ
gkdPeŒ
npGGpaYJWPkŒ
WGpŒ nYJWŒ
$(4
$4
q)`Y>>kx 6><>c`>`x
qY3ckx
HTx @3[`xtQnYJWpŒ
3LL>Tx HT<H[8E>Tx
nYPŒ
Q‰kŒ (gepG_pkPYnPeŒ
PtpnJWaGeNŒ
ztŒ NPtpnJWPeŒ
HQx TPzYPapŒ
u@@>T`LH8E>Tx
3L[x 3c8Ex HQxeGJWŒ
WYHf3`>Tx
>Y>H8Ex teNŒ
3x Q>HTx
!3TTx HTx
tenPkPeŒ
YaNteTnPYekYJWpteTPeŒ YnpŒ YccPkŒ PYePŒ HPnpYccpPŒ e~
j>xgvY<>x3c@63c>TxKuTT>Tx6>Yx3c8Ex<H>xfH>L>TxL>HTHDK>H`>Tx
<H>x
,PHPeŒ
PYePnŒ vPYHaYJWPeŒ 6…tTaYeUnŒ
tenYJWPkŒ HaPYHpŒ
npPJ_PeŒ vYPŒ
$YV<cK`Q3T3D>Yx3c@`Y>`?Tx
)H>x6>DL>H`>Tx>HTx
c8EWYVJ>K`xfVTx
<>Yx
YeŒNPeŒ
aPpzpPeŒ
'GWkPeŒ
uYPanJWYJWpYTPŒ
6zPePŒ ugeŒTPeptkPeŒ
teNŒ
)WY38E>T
x
0HYx
g3Y>TxPYePŒ
6>[`Y>6`x
<H>x T>c>TxVTj>W`>x
cT<x !>`EV<>Tx
=PkaGTPeŒ
GeztnikPJWPeŒ
@…WkPeNŒ
PYePkŒ
*P_pgkPekPYnPŒ
NYPŒ NYPŒP~
V[`VTx [`c<H>Y`>x
6>DL>H`>`>x
H8Ex HETx
cT<x
3Y6>H`>`>x HTx f>Y[8EH><>m
zGWaŒ
6YpzPeŒ
Q‰kŒ GaYpnŒ
9kgpzNPcŒ
`GeeŒ \GWkWteNPk~
Q3TxugeŒ
M>YT`x
6><>c`>Tx
3Qx kPnPkuYPkpŒ
T<>x >HT>Tx
DYVs>Tx )8E3`jx
[x >Yg>H[`x
eGJWŒ
ugkŒzvYnJWPeŒ
-YppPaGapPkŒteNŒ
-gNPkeYp…pŒQPnpŒ
<>>xvYkŒ
v6>Yx
<H>x c`VY>T[c8E>x
HL<Y>8E>Y8E>x
cT<x 3iVc`>T`[8E>Hn
3tGnY=PkaGTPeŒ
PepvYJ`PaqŒ
NYPŒ YWkPŒ 2kgNt_pYgeŒ
NPeŒ cT<x
gQQYzYPaaPeŒ
3Tjcg>T<>Tx <H>x
3c[x <>Tx Y3c>T6>g>DcTD>Tx
HTxYeŒ
T<H>Tx
HTx <>Yx
pPYaYTpPeŒ
S‰kŒ PYePŒ
@gJWPŒNtkJWŒPYeŒ
NYJWpPnŒ[VjH3LgH[[>T[8E3@`LH8E>Tx
2kgTkGccŒ GtnŒ =PkaGTn~
T>Tx />YL3D>Tx
jcTt8E[`x
6>Hx <>Qx KL>HT>Tx
pPaGeTPŒ
teNŒ ;epPkNk‰J_teTŒ
eYJWpŒ
[H8Ex 6H[x tnHPtpteTŒ
E>c`>x 3L[x DLv8KLH8E>Yx
.Q[`3T<x <3[[x
H8ExYeePkWGaHŒ
>HT>x fuLLHDxugeŒ
3Tn
<cTD>Tx6H[xEHTxjcx0>Y6>S3sT3EQ>Tx3T>6>TxE36>xH8Ex36>Yx3c8Ex
=PkaGTPeŒ
GHvYJ_PaeŒ
PkŒ JWYePnYnJWPŒ
YnpŒT<H>Tx
NPkzPYpŒ
nYJWPkaYJWŒ
g>[`LH8E>Tx
0>L`x E>YfVYD>D3TD>Tx
[HT<x.Gk_pŒ
#6gVELx
6>Y>H`[x
>HT>x
HPntJWPeŒ
(gepG`pPeŒ3T[8ELH>s>T<x
ztŒ YeqPkeGpYgeGaPeŒ
*YpPkGptkYeYpYGpYuPeŒ
/>YL3Dx )8E>TKQ3Tx
6>Hx H``L>x
YVgTx 3T<x VxzŒ
cT<x
)
'GWkPeŒ
uPknJWvYeNPeŒ
YPŒ 3tgpPekPTPateTŒ WGqŒ<cY@`>x
NPeŒ 0GJXpPYaŒ
<>Y>x
Y6>H`[
cT<x />Y@3EY>T[g>H[>xK>TT>TL>YT>Tx
)Vx K3TTx
%;#.6.&;+;&;;%;
%&;-;
&#0&-)+(+%%-;
HTx 3T<>Y>x .T`>YT>EQ>T[6>Y>H8E>x
gH>x $YV<cK`HVTx />YK3c@x cT<x
NPkŒNxeGcYnJWnpPŒtJWcGk_pŒNPkŒ@PapŒ
;epPkePWcPeŒ
>QVKY3`H>x g3Yx 6LH>6x <H>x $V[H`HVTx<>YxYPnPŒePtPeŒ
HT<H[8E>Tx Y3cxHTx@3[`x
3LL>Tx
*YpkYwŒ
teNŒ *YqPkGkYnJWPnŒ
teNŒ
ƒHPknPpzteTnQˆk
VcDE`VTx
!H@@LHTx H>[>xgaagjtYtcŒPkaYeEŒ
Y@3EYcTD>Tx g3Y>Tx
fVTx
DYus`>Qx "c`j>Tx
NGnnŒ
NYPŒ (GnpPeztTPWˆkYT_PYpŒ
vPYpPkWYeŒ
YcŒ -YppPaite`pŒ
npPWpŒ
H8Ex g>TTx
H8Ex E>c`>x QH`x 3c[LtT<H[8E>Tx
HYQ>Tx
jc[3QQ>T3Y6>Hn
&;
,; +&"0,/+;
0%--; .#&(%%&;
; 4+; ; 7
>Hx3LL>YxY6>H`xQc[[x
c8EE3L`cTDx
qEHT>HT[8EUcWW>YTkx<vYB>Tx
GHPkŒYezvYnJWPeŒPHPengŒNYPŒnpGGpaYJWPeŒ>PkaGTPŒ
>6>T[6>Y>H8E>Tx [8Eg38Ex >[E3L6x gVLL`>Tx gHYxzPYTPeŒPYeŒnpGk`PnŒ
>HT>Tx >H`Y3Dx jcYx
NPkteTnikgTkGccPeŒ
!gPpWP%enpYptpFŒ
teNŒ
tpgkPeŒ Q‰WkpŒ
Pep~
v8E>Yx HQx
HT6LH8Kx3c@x<H>x
&c3LH`t`x
@vYx QH8Ex E>c`>xLH>D>TxcT[>Y>x
;eNŒ
vGnŒ YnpŒ cYpŒ
GaaŒ NPeŒ GkcPeŒPuˆa`PkteTnnJWYJXpPeŒ
`PYePŒ
`>x $YV6L>Q>x
fVYE>Y[>E>Tx
cT<x >HT@38E>Yx Lu[>Tx 8Ex NYPŒ
<cY@`>x
HQx
-(&&6;0;
+; :+;;&.+&/(&#&;,#&;
Q3Tx6><>TK>Tx
<3[[x<H>x Y>Tx>HTx[>EYx D>[>LLHD>[x/VLKx[HT<x [x[H`j`x
%epPkPnnPŒGeŒ
Gtna…eNYnJWPeŒ
*YzPezPeŒ
nYeNŒGHPkŒ
GtJWŒGtQTkteNŒNPkŒ
0HYx f>Yu@@>T`m
H[Kc[[HVTx v6>Yx
<>Tx )`3`c[x
fVTx Y3c>Tx
L>H[`>Tx
) ePtPŒ (gepG`pPŒ
YeŒ NYPŒ"38Ex
NPtpnJWPŒ
tJW}
npPWPeŒ
ngŒ aPYJWpŒ
3Tx<>Yx )WH`j>x
<>Yx‰HPkŒ
HTx T<H>TxWYV<cjH>Y`>Tx
v8E>Yx
@vT@x 3EY>Tx
GaYpnŒ
nYeNŒ
=gkŒ
PYeYTPkŒQ>HT>[x
CPYpŒ WGHPeŒ
!t\\Gkn|Œ tpgHGWePeŒ
gtEY>T<x
$Y3hH[[>Q>[`>Y[x
YL3T<x cT<xteNŒ
HT[m
)VQQ>Yx
nŒvGkŒYeŒNPkŒ
:GpŒPYePŒpgaaPŒ WGeJPŒ%eŒ kGe`QtkpŒWGHPŒYJWŒTPaPkepŒ
TH>Q3T<x<>TxD3Tj>Tx+3Dx3Qx)8EY>H6`H[8ExcT<x6Yv`>`xv6>Yx
3iVc`[x
6JWePaaYT`PYpŒ
NYPnPkŒ epvYJ_ateTŒ
vPeYTŒ GeTPnJWagnnPeŒ
GeŒY3c>Tx
NGnŒ Ye}
LH8E>Tx 3c8Ex LH`>Y3YH[8E>x
cT<x 3c`V6HVDY3WEH[8E>x
+H`>Lx fVTx
teNŒ
=PkaGTnnzPePŒ
WYePYeŒ NYPŒ cT<xH8Ex3Y6>H`>`>xjcTt8E[`x3L[x
gQpŒ ‰HPkŒ 'GWkPŒ WYevPTŒ TPetpzpŒ
K>EY`>TxgHYx
T38Ex T<H>TxjcYv8Kx
'>n
6pkG„PeŒ
YeŒ 4G\GnpWGeŒ
HagJ`YPkpŒ
tcŒ YWkPkŒ
gkNPkteTŒ
eGJWŒ
PYePkŒ
6>[VT<>Y>x
[>HT>x 3cW`[`3<`x
E3c`T3Ex
>YL>6>Tx
3x <>Yx
>Yc@x
<>[x
vYPŒ
cGeŒ 4PJWpPŒ uPk`GtQpŒ
‰kŒ tenŒ YnpŒ)`3``<>[[>Tx
PnŒ PYeQGJWPkŒ
4PJWpPŒ
YeŒ
>K`VY3`[3c@D36>Tx
V<>Yx (>8ETcTD>Tx
gHY<x
<H>x Y6>H`x
pPkeGpYgeGaPŒ
=PkaGTnHtnYePnnŒ
YePŒ g>H6LH8E>x
zPepkGaPŒ tQTGHPŒ
NPnŒ cQx <H>x g>H6LH8E>x
Y>3`HfH`t`x [VgH>x
$>Y[W>K`Hf>Tx
3c@x2P}
<H>x
vPkNPeŒ
6>Hx
YPŒ #YH>T`x
TtpPŒ %NPPŒ
NPkŒ *P`pgkPekPYnPeŒ
YnpŒ cYppaPkvPYaPŒ
ugeŒ
<3K`>cYHTx
VTDQ3Tx
HTx 3LKc``3x 6>fVYx
H8Ex [8ELH>sLH8Ex
…WeaYJWPeŒ=gkztTnHPWGeNateTŒ0GJWNktJ`ŒztŒuPkaPYWPeŒ
/>YL3D[E>Y[`>LL>Y[xHQxc[L3T<xK>HTx >DYH@@xH[`x E36>xH8Ex6>Y>H`[x>HTx
GeNPkPŒPeTaYnJWnikGJWYTPŒ
*…eNPkŒ
ztŒ uPk_GtSPeŒ
ugkŒ GaaPcŒYeŒ
NYPŒ
HQQ>Yx gH><>Yx @vYx >HTxT>`b>[x
>WL3c<>Yx
>HT>Tx0H`jxV<>Yx
H[Kc[[Hp
_YeTŒ
YnqŒ PnŒ NGWPkŒ
!PnJW…Qpn_gepG_pPŒ
ztŒjcjc@vEY>Tx
uPkcYppPaeŒ teNŒ
HPYNPeŒ
>[>LL[8E3@`x
>HT>Qx
6Y>H`>Tx $c6LHKcQx
+E>Q3`H[8Ex
NPeŒ
GeNPkPeŒ tJWYeQgkcGpYgenzPepkPeŒ GtQTPTkYQQPeŒ vgkNPeŒ 6gŒ
Q>HT>Tx>HD>T>Tx/>YL3DxDYvT<>`>x
3EYx HQx /VY3c[x QH`x <>Tx/VY6>Y>H`cTD>Tx6>DVTT>Tx T[D>[3Q`x E3`x
YPŒ (gepG_pGtQeGWcPŒztŒ*…eNPkeŒ
<5Œ
teNŒeGJWŒ!kg„HkYpGeeYPeŒ
4cWYVJ>K`x<>Yx)`3<`xcT`>Y6YV8E>Tx
!3Tx
VT>Txv6>Yx<3[xT>c>[`>x
7PYrPeŒ
?hknKWb†UPŒ
RŠkŒ YepPkPnnGerPŒ
{tŒ dG~
6H>`>`x cT[>Yx
$YVDY3QQx
>HT>x 6Y>H`>xƒHPknPr{teUnikh[P`pPŒ
$3L>``>x fVTx <>Yx gH[[>T[8E3@`m
uPk†eNPkeŒ nYMWŒ eYMWsŒ etkŒ OYPŒ .…k_pPŒ NYPŒ Gtna…eNYnJWPeŒ vYPŒ NPkŒ
;
.0.(&; 2(&;
,0&; &; &&; 4+; ,.; -"0.,/; 0&; -;
>[xv6>Yx[H>6>Tx
!VT3`>xD><3d>Y`x7H\xH9ExQ>HT>x2c\3D>x6>KVQQ>Tx
vYPŒ
PtpnJWaGeNŒ
%pGaYPeŒ
kGe`kPYJWŒ
teNŒ5T<x
6iGeYPeŒ
ugeŒ
%eNYPeŒ
\VLL`>x
J><V9Ex gH\\>Tx
<3]\x
YL5T<x K>HTx
H\`x HTxYnpŒ
<3\x
Q3Tx
Z>H^`x
) vtkNPŒ NGeeŒ
NGnŒ
!PkcGeŒgg_Œ
1QQYJPŒ
0PvŒ Bgk_Œ TP}
JWPeŒ
LH8E>Tx6E3T<LcTDxv6>Yx
<3[x
)38E6c8Ex
6H[x EHTxjcYx
c`V6HVDY3WEH>x
ztkŒ
ˆkNPkteTŒNPkŒ
NPtpnJWPŒ
GtJWŒ*(4
NYPŒ -PpWgNPeŒ
NYPŒ NYPŒ
(4 *$4 (4
4 *1+/$4
44(
,$4
((4 3(4
5-.+&;
2+-&;
&..2&;
;
:+;@vYx
;q+E>x
&/,--&;
2(&;
E36>x <H>x 0V8E>Tx
6>Hx <8Vx
KcYjx
<c83`HVT3Lx
E36>x 8Ex
GtnŒ
%eŒ kGe`QtkpŒ YepPkPnnYPkpPŒ
nYJWŒ NPkŒ kGtiGNYŒ
cQx nMWvYPkYTPkŒ
TDLH[8ExjcxL>YT>Tx0>YxT38Ex
YL3T<xD>E`xcT<x<VY`xTH8E`xTcYxHQx
Tk‰eNPpŒ
PkŒWgJWŒ
PepvYJ_PapPŒ
teNŒnpGk_Œ<H>[>Qx
YepPkeGpYgeGaYnYPkpPŒ
-Gk_pŒ
q)3Qi3kx
6><>c`>`x
qL>H8EE>H`kx.T`>Yx
QxWYHT`xf>Yu@@>T`LHl
YepPkeGpYgeGaPeŒ
=PkePpzteTŒ NPkŒ =PkaGTnvPapŒ GevPeNPeŒ vPkNPeŒ
$4
,0&;&.,.&;
#;-&;;4/-/&; +,0&&-.&;
VQW3TixV@x NY>M3T<kxHTxc6LHTx3L[xv6>Y3c[xHT`>Y>[[3T`xcT<xfH>M[>Hn
=PkaGTŒ
GtnŒ $PYNPaHPkTŒ
Q‰kŒ PYeYTPŒ
tenPkPkŒ 9YpPaŒ
‰HPkŒ[WY>n
NYPŒ
$c6x >HTxcHTT>[[x
6>[`>LO?Tx
gHLLx [VLL`>x6>Y>H`[x
Dc`xteNŒ
TDLH[8Ex
PkQgkNPkpPŒ
PYeŒ GeNPkPnŒ
ePtPnŒ (gezPipŒ PkŒ GcPkY_GeZnJWPŒ .Gk_pŒ
8E>TxgHYx,H`>Lx
<H>x[H8ExQH`x<>QxEH>Y3Y8EH[8E>Tx[W>K`x<>YxHT<H[8E>Tx
np…eNYTŒ
QgkpPepvYJ`PapŒ
0Gp‰kaYJWŒ
GkHPYpPeŒ NYPŒ ‰kgnŒ
GtJWŒ
Q‰kŒ NYPŒ
.T[>Y>xHT<H[8E>Tx
>[>Yx
[HT<xD>6HL<>`>x)`t<`>Yx
3c[x <>Yx
!H``>LKL3[n
+;
#.6.&;+;
-;.;-;&(;60;.0&;
`HDx>QW@cT<>Tx
"3`vYLH8Ex
6>KVQQ`xQ3Tx 3T@3TD[x <xExHTx<>Tx>Y[n
6GWYpxGŒ
_GNPcyŒ
PYePŒ
npGGpaYJWPŒ%enpYptpYgeŒ
ztkŒ ˆkNPkteTŒ
YeNY~
8E>Tx H>Yx
H[`x >HT>x
>EYLH;E>x
)>L6[`>HT[8Et`jcTDx
D>@Y3D`x <3x
Q3Tx
YnpŒ
YeŒPztTŒ GtQŒ NPeŒ =Pk_GtQŒ GcPkY_GeYnJWPkŒ *YzPezPeŒ nPWkŒ YepPk}
cL`cYxcT<xQH`x<>[[>Tx03T<LcTD>TxHTx<>TxL>`j`>Tx3EY>Tx6>[8Et@`Hm
PaGeTPŒ
NPkŒ kGe_QtkpPkŒtJWcPnnPŒ
teNŒ fVTx
YWkPŒTcYx
2kg\P`pPŒ
PeeŒTH8E`x
WYPkŒ
$YVj>T`x
[>x g3[x 3TD>[H8E`[x
>HT>Yx LWE36>`>TY3`>x
YPŒ
YeNYnJWPkŒ
kGtPeŒ
YnpŒ nPWkŒ
uYPaQ…apYTŒ
YPŒ
cPYnpPeŒ
`>Tx 6YptGpYgeŒ
jg>Hx 6H[x <Y>Hx
0V8E>Tx
TcYx KL>HT>Y>x
c@D36>Tx
cT<x
1c3Y6>H`>Tx
nJWPkŒ
YeŒ NPeŒ
uPknJWYPNPePeŒ
6ikGJWPeŒ
`geepPeŒ
vYkŒ
[VT[`x *YpPkGptkŒ
TH8E`x TcYx 3c@x
6>YcCOH8E>Yx
[VT<>YTx
3c8Ex 3c@x WYHf3`>Yx
6>T>x
eGpYgeGaŒ
zPYTpŒ nYJWŒ GHPkŒ kPnPkuYPkpŒ vGnŒ NGnŒ %epPkPnnPŒ GeŒ Gtna…e~
D>Tx c8ExEH>Yx6H>`>TxgHYx>HT>xVQ6HT3`HVTx3c[xgH[[>T[8E3@`LH8E>Tx
aGtQPeŒ
NYPŒ …NPeŒ NPkŒ YeqPkeGpYgeGaPeŒ
0PpzvPk_PŒ
ztcYeNPnpŒ PYedGaŒ
f>YgcT<>YLH8ExH[`xH>x
13ELx<>YJ>THD>Tx
<H>x3c@x TDMH[8ExL>[>TxKuTn
kGtPeŒ
GtnŒ
NPkŒ
-YppPa_aGnnPŒ
nptNYPkPeŒ
teNŒ
PkTkPYQPeŒ
PYePeŒ
P€
jcD>`>HL`x
36>Yx
QH`x
<>Yx 1>H`x E36>xH8Ex
3c8Ex
Q>HT>x
>HD>T>Tx
$YVJ>K`>x
PYePeŒ
YeŒ PYePkŒ
epWgagTYPŒ
NYPŒ HPYŒ
g>THDx:PwpGtnztTŒ
Dc`>x Y@3EYcTD>Tx
Q38E>Tx
gHY<x uPkˆQQPepaYJWPeŒ
H>x Y>Tx Y><>Tx D>YTx
cT<x
NYnJWPeŒ
:YpPaeŒ GangŒ GtJWŒ
ƒHPknPpzteTPeŒ GtnŒ
NPcŒ PtpnJWPeŒ
+H`>LTxcT<x)38E6v8E>YTx
<H>x>HT>Qx6Y>H`>Y>Tx
$c6LHKcQxjcDtTDLH8Ex
YcŒ
'GWkŒ
PYePcŒ
1kpŒ ztnGdcPeŒ
0Gp‰kaYJWŒ
_gccPeŒ NYPŒ *PYpPkYe}
T>Tx
H[`xGeŒ
TV8Ex
TH><YHD>Yx
">6>Tx cT[>Y>Tx
>TDLH[8E[WY38EHD>Tx
-H`>LTx
ktQŒ
'teTPŒ -tnaYcYeePeŒGtnŒ
NPkŒ -YpqPa`aGnnPŒvPWkPeŒ
nYJWŒ TPTPeŒ
6>3Y6>H`>Tx
<vY@>Tx 3jcx D>EuY`>Tx
Hj>Tj cT<x !3`>YH3L6>[8E3@o
6tWk_GciŒ
PknJWYPePeŒ
YnpŒ
%eŒ kGe`QtkpŒ WGHPŒ
YJWŒ TPaPkepŒ NGnnŒ
[HT<xEHL@[6>Y>H`x
36>Yx [H>x
_HT<x3c8ExHQQ>Yx
@vYx >HT>Tx)W3sx3c@xV[n
GeHPaGeTpŒ
6gŒcT[x
PknJWYPePeŒ
zŒ
YcŒ 'GWkŒ )
)
9YpPaŒ PeTaYnJW}
[HT<x H>x fVTx
Wc6LHjH>Y`>x
r6>Y[>`jcTDx
<>Yx
c`V6HVDY3WEH>x
<>[x
ztŒ NYPnPdŒ
eaGnnŒ
kPTPac…„YTŒ eGJWŒ
kGe_StkpŒ
ePeŒ
NPkŒ Wc6LHjH>Y>TxgHYx
3c8ExHTx
>TD3LHx
<>Yx )WY38E>xcT[>Y>[x
cT<>[[`33m
c…eeaYJWPŒ
gcYeGezŒteNŒuPkaGeTPeŒPYeŒ
-YpnikGJWPkPJWpŒHPYŒ
"PY~
BcTDxD>T3c[VxgH>x
>K`VY3`[3c@D36>Tx@vYx
<Hf>Y[>x />Yu@@>T`LH8EcTm
PnŒ
YccPkŒ
kteNŒ
GJWpŒ .geGpPŒ
NGtPkpŒ
HYnŒ cGeŒ
vYnnPeŒ
`GeeŒ
`>Tx
3T<>Y>Yx
jcx E36>Tx
0?Yx 3L[Vx
3L[x c[LtT<>Yx
>YK3TT`x
gHY<x
cT<x
nikGJWYTPkŒ
tpgkPeŒ IPYŒ NPtpnJWPeŒ
dPlY_GeYoLWPŒ
>PkaG}
>HT>Tx
3LH`x #QWY3K3[Ex/3LQHKHx
VV`E3Tx=PkaGTPeŒ
x3LHA[x H@>x
>YEH>L`x
teNŒ
R‹WkPeŒNgkrŒ
YWkPŒ
dZrŒ NPtrnJWPeŒteNŒ
Gtna†fNYnKWPeŒ
!Pnik‡KWPŒ
!HLLHVT>Tx HTgVET>Yx
dT<x 3TDL3<>\E\x
`>[x 0>[`x
>TD3Lx
mGpŒ
teNŒ 8hkUPkPMWsŒ
YPŒ
dPYnpPeŒ
kGtPeŒ
UPWˆkPeŒ
D>Tx7KWPYNteTŒ
H>x <3@wYx Tu`HD>Tx
'>\\VeY:>Tx
3L\Vx
>HTx >HD>T>Zx
Z7>H`[WL3ajx
gHŒ
NPkŒ
UP_e‰iQpPŒ
)gepG`pŒ
k‰JWpPŒ pk…VpŒ gNPkŒ
eYJWpŒ
tJWŒ
WGHPŒ
6>Ix
*8F>Yj>Tx
D>YTx
3c8Gx 0VY`[WH>P>Y>H>Tx
cT<x
<>Y7>Y>Tx
0H`j>Tx
NPtpnJWPkŒ
tpgkPeŒ PYeŒ 0Gp‰kaYJWŒ
TPŒ
_GtQpPeŒ
\PNgJWŒ
etkŒ ) :YpPaŒ
$Y>H[x3L[x
6>[`>[x
c8Exv6>Yx
<3[x QV<>YT>x
T<H>Tx
=PkaGTncYpGkHPYpPkeŒ
YeHaYJ`PŒ YeŒ NYPŒ G`ptPaaPeŒ kHPYpPeŒ teNŒ
!HLLHVT>TxHTgVET>YxH>x+H`>LxfVTx)3Qi3xE36>TxDYVs>x/>Y6Y>H`cTDx
\PNgJWŒ
eYMWpŒcT<x
NPkŒ VQWc`>Yx
-YppPa`aGnnPŒ
GeŒ "YPkŒ
nYeNŒ
2kgHaPcPŒ
QH`x ,>L>@VTx
gcY<>Tx
QHYx
fVTxNYPŒ
T@3TDx
3Tx jcYxYccPkŒ
/>Y@vn
YJWŒ
YeŒ kGe`RtkpŒ PYeŒ !PQ‰WaŒ
Q‰kŒ NYPŒ 2kPYnPŒ
HPYcŒ 4PJWpP_GtQŒ
!>HT>xgNPkŒ
QWn
TH8E`xQH`L38E>TxK3TTx
gHY=x [8ET>LLxjcYx
1H>L[8E>H6>x
`GeeŒ PYeŒ ‰kgŒ dYpŒ zvPYŒ 2PkngePeŒ NYPnPeŒ 9kPeNŒ eYJWpŒ tc_PWkPeŒ
2kg]P`pPŒNPkŒ
TPv…WkPeŒYWkPŒ
@PHnYpPnŒ
eQGeTŒNPnŒ
'GWkPnŒ
HTxD3Tjx T<H>TxD>@cT<>Tx
3c8Ex 3c[x KL>HT>Y>Tx
)`t<`>Tx
>YE3L`>Tx
gHYx
egJWŒ
Tkg„ŒLL>Y<HTD[x
teNŒ ngŒ uZPaQ…apYTŒ
NGnnŒ
nYPŒ>Y[`x
nYJWŒ3Tx
eYJWpŒ
ztnGc~
DcTDxnPWkŒ
D>[`>LL`x
Qc[[x Q3Tx
[H8Ex
<H>x`tkzŒ
fuLLHDx
3T<>Y>x
uPk_GtQŒ
NGnŒ KLcDx
YnpŒ ugeŒ
%eNYPeŒ
nJWvYPkYTŒ
%engQPkeŒ
@>ELcTDxHP_gccPeŒ
/>Y[c8Ex Q38E`x
0>Yx
QH`xGtnŒ
T`>Y>[[>x
#@@>TE>H`x
cT<x
nŒ
_GeeŒ
GHPkŒ
YccPkŒ vYPNPkŒ NYPŒ#$43(+4
tQcPk_nGc_PYpŒ GtQŒ NPtpnJWPŒ
*4
+4 4
'(*2$"4/,4*$4
)
vYkNŒ PYeŒ ePtPnŒ
PkˆQQePpŒ
0PHPeŒ
NPcŒ
YeŒ0PvŒ
Bgk_Œ
c8E6>[`>LMcTD>Tx
.T[>Yx
>[`[>LL>Yx
H[`x <>Yx
+H`>Lx
q0Eix
Qx "V`
3x
cPeQGnnPeŒ
aGnnPeŒ
WgWPŒcT<x
eGaiWGHPpPekGpPŒ
Qk‰WPŒ
#PYkGpŒ `GtcŒ
0H8E`cTDx fVTx
+>YQHT>Tx
6[WY38E>Tx 6jgx
Y6>H`[g>H[>Tx
D>o
vGkŒ
NGnŒPYePŒnPWkŒe‰pzaYJWPŒ
kQGWkteTŒ
Y>c<>x
3Tx <3[x $YVJ>K`x qc[L3T<[>Y@3EYcTDkx
E>Y3TD>E`x gHY<x 3c@x
‰JWPkŒ
YcŒ aaTPcPZePeŒ teNŒ PYezPaePŒ WPkGtnkGTPeNPŒ :YpPaŒ YcŒ
Qx>D>T[3`jxjcx<>TxQ>H[`>Tx3T<>Y>Tx/>YL>D>YTx6HTxH8Ex<cY8ExQ>Hm
vYkNŒPnŒNGeeŒPYeŒ
zvPYpPnŒ YeŒ0PvŒ$EHLV[VWEix
PaWYŒ TPHPeŒ
HT<cx x)c<Y3x YH`HXc>xV@x
HT<c`f3x
cL`cY>x3T<x $VLH`Hm
guET>Tx HTx +>YQHTx H[`x HTx YL3T<xK>HT>[g>D[x[Vx f>Y6HT<LH8Ex gH>x HTx
J><>Tx3LLx 6>LVET`x
*YpPkGptk0GJWkYJWpPe|Œ 0kŒ ) vvvaYpikgcNPŒ -; &.+34;
Q‰WkpPŒ ee(GpWkYeŒ #…QePkŒ -YpGkHPYpPkYeŒ NPkŒ kGe_~
T>x HVDY3WEH>x>HT>xY`xcs>T[>H`>YHTxHTx<>Yx HT<H[8E>Tx>[>LL[8E3@`x
83Lx 8VTVQix fVTx3T8E3x NL3H3Ekx H>[>Yx +H`>Lx E3`x <>Tx )`3`c[x >HT>[x
+-&'; ';
cT<x6YHTD>x<>[E3L6x>HT>x3T<>Y>x $>Y[W>K`Hf>xQH`x H>xWYtD>T<>x1>H`x
!3TH@>[`[x @vYx <H>x TH><YHD>Tx 3[`>Tx cT<x >[x [HT<x j3ELY>H8E>x '3c6n
QtkpPkŒ
tJWcPnnPŒ
6YPŒ HPpkPtpPŒ
'GWkPŒ aGeTŒ tŒGŒ
ngŒ TPeGeepPŒ
Q‰kŒ =PkaGTPŒ GtnŒ
PepvYJ_PaeNPeŒ
-+&(%4
!3TJ3x 'c6>Tx
[`c<H>Y`>xuYPaPŒ
/>YL3D[E>Y[`>LLcTDx
3TxNGnŒ
<>Yx -0x
>HWjHDxYeaGNteTnikgTkGccŒ
cT<x 36[VLfH>Y`>x HEYx %Y3hH[[>Q>[`>Yx
HQx nYJWŒ
HYH[8E>Tx
/>YL3Dx <8Vx
KVWH>TxHTx.QL3c@x
tJWeGpYgePeŒ
-*+8-*+.&+&;
"4 !3TJ3x 'c6>Tx
1.(+;
:gHYGnŒ =gnnŒ
$+;
:gHYGnŒ =gnnŒf>Y6Y38E`>xH8ExHTx
6pkPYQHGeNŒ
cT<x
>6>T[J3EYx
VT<VTx
jgH[8E>TxQ>HT>Qx
-GeNYkGŒ 6PeŒ D%eNYPeŒ =PkaPTPkYeŒ $+;
aYpikgcŒ vvviWgpgJGnPNPŒgixkYTWpŒ (PaaPkHkGeNpŒ
(,":0%H
#$&$,&/
2585E8H
'"/
-MdbaKPMam+dKPRZN\`YGbR\ZajM[b`dYm +dUG`Mabm
ab`m AdL\`m*`OQMjRm m
AMWm 0Gh$m mm
7MRbdZO"m V\G[Gm 1`dMZgGWLm
!m +dUG`Mabmm
.YGRW"m_\abXIRj
IdUG`Mab\`Om
K\m 1\MbPM2ZabRbdcm +dUG`Mabm
?dYk[RMZm
gggmIdKPmYMaaMmLM
m ImRmj
IdmU Gm`Mma bm
-MdbaKPMam +eKPRZN\`YGbR\ZajM[b`dYm:\aUGdm
9MZRZaURTm=`\a^MUbm!Gm
AMWm 0Gh"m !
!mm!m
"+))5
(#H D(/ <#H 2/#0H 5(8#56@H 6(0"H (0H ,E0"-(!&#H #
(#8#H 5_QFOhƒ oIcUDlLhƒ
Qfhƒ IQ_ƒ MlhIfƒ
#lFOƒ IQ_ƒ qQFOhQMIfƒ AIlM_Qfƒ
?I__ƒ
*.1#&(/*
5,5$2*20,&3/5/.-!,5,(
5
'55%-55
9oj–IL}ywFULj–
9Lsc?QLj–
3QhIcDhlcƒMlhƒ MI_lMƒQfhƒ EIcVIEhƒfQIƒDlFOƒ -FOƒMVDlEIƒ [D_ƒUD__ƒ
%#%0%#0H :0"H & #0H 5:#0H #5/:8(%8H ?:H 6!&5#( #0H 0H 5:
5
€Ls`?}OyL–
4I_fFOI_ƒ HlcFOƒ 3QhIcDhmcUI__h_QffIƒ fIOcƒ EIIQ_HclFUI_ƒ l_Hƒ QFOƒ
#0352*#+8#0H <#5"#0H #"(!&8#H %#6!&5(#
#0H ŽCLswLy†}jQwcZ†Lj†Lj–
:0"H
#(H 5#$$#0H
8MRbdZO%m AGbSGZGm@RY]Zm
?B!m:\aUGdm
.:GRW%m aRY\ZXY\aUGdO\MbPM\`Om
K\m1\MbPM3ZabRbdbm
?eaaRaKQMm0lLM`GbR\Zm
gggJdKPYMaaMLMIRjY\aUGdm
;25%#85%#0H
5
MVDlEIƒ HQITI_QMI_ƒ
HQIƒ HQIfIfƒ ?QffI_ƒ Q_ƒ AQ[EDEqIƒ ODEI_ƒ qIc
-MdbaKPMam +eKPRZN\`YGbR\ZajMZb`dYm =MURZOm
,iIM`mA\gM`m +dRWLRZOm +m -m
AMW%m m m 0Gh&m m m
0Dƒ 8IcLac[D_FI3tcQUƒ Qfhƒ IQ_Iƒ bablVcIƒ 1l_fhLac[ƒ HQIƒ [Qhƒ acD
VIcƒ 3QhIcDhlcƒ ulfD[[I_O_Mhƒ [Qhƒ 8cIHQMI_ƒ l_Hƒ 3IOdI_ƒ :QFOIc
HI_ƒ fIOcƒ MIDFOhIhƒ m_fIcIƒ :FOcQLhfhIVVIcƒ 3IOcIcƒ 1cQhQUIcƒ "EIcƒ
5
l_HƒHDfƒQfhƒfIVhfD[ƒ IfƒIc[l_hIchƒD_fFOIQ_I_Hƒ_QFOhƒHDulƒ[IOcƒulƒ
VQJOƒ MQEhƒ Ifƒ IQ_QMIƒ fIOcƒ MlhIƒ 8IcLac[D_FI%QFOhIcƒ qQIƒ $OQcQUl
5
VIfI_ƒ l_Hƒ
hcahuHI[ƒ [€FOhIƒTIHIcƒ IQ_ƒ:FOcQLhfhIVVIcƒfIQ_ƒ
m
7MRbdZO#m -`m5R[Om +G`bjm :am
;\mm FP\ZOOdGZKdZm@\dbPm*fMZdMm
.
:GRW)mIG`bjXIRj
IMRTRZO]`Om
K\m 1\MbPM3ZabRbdbm >MURZOm
m +MRTRZOm ,PRZGm
gggmIdKPmYMaaMmLM
m ImRj
m _MUmRZmOm
-MdbaKQMam +eKPRZN\`YGbR\ZajMZb`dYmCG`aKPGdm
dWm ,PYRMWZGmGm
AMW#m m!m m 0Gh"m m!m m
7MRbdZO%m ;RZGm 6WMRZm
>9 mCG`aKPGdm
/:GRW"m_\abXIRj
gG`aKPGd\`Om
K\m 1\MbPM4ZabRbebm CG`aKPHdm
=\WMZm
45
5
gggJdKPYMaaMLMJRj
gG`aKQGdm
00H"#00H (8#58:5H #06!&#0H;#5E0"#50H +00H 6(#H 2,(8(+H ##(0
IffD_hƒfQ_Hƒ
:66#0H
#5H#6H 5(0%8H"(#H #:8#H0(!&8H?:/H #6#0H
.FOƒ MVDlEIƒ [D_FO[DVƒ fFOa_ƒ +lhIƒ 3QhIcDhlcƒ UD__ƒ
EIcƒ
IQ_I_ƒ
V_
5
HDfƒ#IqlffhfIQ_ƒLcƒ!,5
IQ_Iƒ :QFOhqIQfIƒ €LL_I_ƒ
?I__ƒ
MIcI_ƒ
5DFOƒ[IQ_Icƒ'cLDOcl_MƒDVfƒ=IcVIMIcQ_ƒ HQIƒDlFOƒ3tcQUƒOIcDlfEcQ_Mhƒ
qQcƒu #ƒIQ_ƒMlhƒl_HƒIQ_LOVfD[ƒMIfFOcQIEI_Ifƒ#lFOƒOhhI_ƒ Q_ƒHI[ƒ
1M`YG[m +\\Um <NNRKMm ;MgmD\`Um
m 0RNbPm*fMZdMm 0\d`bPm 0W\\`m
AMW'm !m mm 0Gh"m !m mm
9MRbdZO"m ?RUim@b\KUm :am
;MgmD\`Um ;Em m
/YGRW(m ab\KUXOI\\`Om
K\m 1]MbPM2ZabRbdbm ;MgmD\`Um
B@*m
gggOI\\`Om
dtMkL– 4y?~kzpk–[xy– :MteLRLs[j– [j– <[hD@D‚M– M[lLh– %?jJ– J?w– J~sGV– M[kL– z[LOM– ”apjoh[wGVL– ~kI– rpc[y[wFVL– $t[wM– RLVy– oty– QMCosLl– ~jI–
@~ORM‚@GVxLk– wy~J[LtyL–x[L–[k–toDt[y@jk[Mk–~kJ–?sDL[yLyL–L[k[RL– =L[y–[k– %okJoj– O•t– I@w– t~h–tyw–MlztL‰– ~jI–O•s– ILj– "oVk–@cILt–
:Ltc?R–+?GU–a~s†Lh–~OLkyU@cy–[k–oyw‚?j@–aLVszL–w[L– – [j–J[L– M[h?z–†}t•Ga–}kI–?sCLZzLyL–DL[– JLt– ky‚[Fac~jR–€oj– &LUtrc‘kMk–Zk–
%QIƒ HIlhfFOI_ƒ #lFOQ_Lac[DhQa_fuI_hcI_ƒ l_HƒHDfƒ +Ic[D_ƒ#aaUƒ 6LLQFIƒHIcƒ *cD_ULlchIcƒ #lFO[IffIƒ
JLt– ~ts[G}e}h–LMcorhLjy– 7k[y‰– h[y– – Rs•jILzL–w[L– h[y– JLh– x•J@Ot[`?k[wGVMj– ~yot– ~RV– &L‚[k– JMk–9Lsc?Q– ?oC?D–poaw–
+?FV– hLVt– ?cw– †LVj–"?VsLj–€Lsc[M–xZM– JMl–:Mtf@S–~lJ–St•lJM{M–h[{–[VtMh– VMh@kj– )~tt@…– )GAt{lM…–;MBMt– .tMww–llMc[M– $cp{VMt–
DhcVQFOƒ oIcHQI_I_ƒ =IcVDMIƒ Q_ƒ IcfhIcƒ 3Q_QIƒ HD[Qhƒ QOcƒ +IVHƒ HDffƒ
aHIcƒ \Q_HIcƒ Ua_hQ_lQIcVQFOƒ IcLaVMcIQFOƒ Q[ƒ "lfVD_HfMIfFOLhƒ
wrt?GV– h[z– dsLjM–4y?~jyol–•DLs– IZL–Q@j†–DLwolILsL–4Zy}@y[pj–M[jLs–9LscLRLt[k–[j– =[hD?C‚L–
fQIƒ HQIƒ #FOIcƒ QOcIcƒ "lhacI_ƒ DlLƒ HI[ƒ OIQ[QfFOI_ƒ 4DcUhƒ oIcz
EIhIQVQMI_ƒ 'Q_Iƒ I_hfFOIQHI_HIƒ 9aVVIƒ Lcƒ IcLaVMcIQFOIƒ 3QuI_uDEy
UDlLI_ƒ -[ƒ )DVVƒHIcƒHIlhfFOI_ƒ=IcVDMIƒfQ_HƒHQIfƒ_QFOhƒ_lcƒHIcƒ HIlhy
fFOVffIƒ [Qhƒ DlfV_HQfFOI_ƒ =IcVDMI_ƒ fbQIVI_ƒ #lFO[IffI_ƒ DVVI_ƒ
fFOIƒ fa_HIc_ƒ DlFOƒ HIcƒ fFOqIQuIcQfFOIƒ l_Hƒ HIcƒ €fhIccIQFOQfFOIƒ
""/ #&$/ .$/ (/ !)$/ %"/ .$/ *'/ &'$/
#lFO\DcUhƒ 5IEI_ƒ HI[ƒ,DlbhMIfFOLhƒ HI\ƒ IQMI_hVQFOI_ƒ #lFOz
/ '"'""/ %"/%&/$/ -"""//'"%/&)%/*'$/
oIcUDlLƒ MQEhƒ Ifƒ _aFOƒ IQ_Iƒ 9IQOIƒ qIQhIcIcƒ +IfFOLhfLIVHIcƒ DnLƒ HI[ƒ
&'&#"/ $/ $/ "/ !)/ %"/
#Q__I_[DcUhƒ HI_ƒ =IcUDlLƒ HIcƒ ;DfFOI_ElFOcIFOhIƒ HIcƒ ,€cElFOy
$"/ &'"&#"/ !k– I[LwLh– %@jJ– oD– †~– tVpJLx[wFVMj– <L[yLj– oJLt–
l_Hƒ '#aaU9IFOhIƒ HIcƒ =acDEHclFUcIFOhIƒ D_ƒ AIQhl_MI_ƒ l_Hƒ AIQh
VM~yL– V@y– Lx– L[RLkzc[GU– k[L– L[jL– L”caLs~kRwwFU[FVy– RLQLDLj–
fFOcQjhI_ƒ l_Hƒ HIcMVIQFOI_ƒ [IOcƒ 4Qhƒ HI[ƒ =IcUDlLƒ oa_ƒ *QV[cIFOhI_ƒ
J[L– tLRLch‘[R– •GULt– a?~Oy– )@j– h~ww– ~kzMtwFWL[ILk– †‚[xFUMk–
Lcƒ IQ_I_ƒ IcLaVMcIQFOI_ƒ 9a[D_ƒ Qfhƒ [IQfhƒ fFOa_ƒ _QFOhƒ [IOcƒ _lcƒ HIcƒ
L[kLh– $‘~OLt– ~kI– L[jLh– %LwLs– ;Lkk– h?j– _Lh?jILh– LZj– ~FU–
_DhQa_DVIƒ 4DdUhƒ D_MIfbcaFOI_ƒ OQIcƒ Ua_UlccQIcI_ƒ Q_ƒ HIcƒ 9IMIVƒ Q_
R[Cy– a?kj– h@j– O?wy– x[FVLt– xL[j– J@ww– Lt– Lw– @~GV– c[Lwy–ULj_Lt?[–
hIc_DhQa_DVƒ DMQIcI_HIƒ )QV[Ua_uIc_Iƒ l[ƒ HQIƒ 3QuI_uI_ƒ Lcƒ HQIƒ =Ic
oL–w?QyL–L[kh@c– ‚Lkj–_Lh?jI–Zk– ~tor?–L[k–~FV–a@~Oy– ‚ZtJ–Lw–
LQV[l_Mƒ HIfƒ 9a[D_fhaLLIfƒ "lffFOVQI~VQFOƒ DlLƒ HIcƒ 'EI_Iƒ Q_hIc
RLcMwLj– ~kJ– J?kj– aohhy– Lw– [jx– 0MR@c– ?DLs– [j– <[hC@C‚L– ‚ZsJ–
_DhQa_DVIcƒ =IcVDMfMIfFOLhIƒ EIqIMI_ƒ fQFOƒ HQIƒ "EfFOVffIƒ Q[ƒ
Mw– RMeLwLk– ~kI– Lsc[MULk– C[w– Lw– ?~wL[j?kILt– O‘ccy– oFU– 9LtŠ
#IcIQFOƒ HIcƒ |EIcfIhul_MfVQuI_uI_ƒ %Icƒ Q_hIc_DhQa_DVIƒ 4DcUhƒ HIcƒ
c@RL– w[kJ– oh– }FU€Lt`?}O– ?CU‘kQ[Q– wojwy– a”jjLk– x[L– kZFUy–
'Q_ l_Hƒ =IcUDlLƒ oa_ƒ |EIcfIhul_MfcIFOhI_ƒoa_ƒ=IcVDMI_ƒ DlfƒD_ƒHI
•DLtcMDLj– [L– †[hC?C‚[wGUL– $~cy}s– [wz– LVLs– QLwMcc[Q– ?Š
cI_ƒ 3_HIc_ƒ \Qhƒ D_HIcI_ƒ :bcDFOI_ƒ Qfhƒ Q_ƒ HI_ƒ VIhuhI_ƒ 0DOcuIO_hI_ƒ
h[c[M– [wy– ‚[FVy[R– ~jI– @}FV– I?ww– h@k– Ly‚@w– ‡~w@hhLk– ~jyLt‹
Q[[IcƒqQFOhQMIcƒLcƒHQIƒ=IcVDMIƒMIqacHI_ƒ,DhhI_ƒoacƒuqD_uQMƒ0DOy
k[hhz– 4[GV– †~s•Fa†[LVLk– ~lJ– L[j– ~GV– cLwMk– [wy– `L[jL– wLVs–
cI_ƒ oQIVIƒ =IcVDMIƒ _aFOƒ UIQ_Iƒ IQMI_fh_HQMIƒ 3QuI_uDEhIQVl_Mƒ faƒ Qfhƒ
RMxLcc[RM– jRMcLRLjVL[y– w– [wy– ‚[FVy[RLs– x[FV– I?t•DLt– @}x†~y@}Š
HQIfƒ OIlhIƒ EIQƒ =IcVDMI_ƒ DEƒ IQ_Icƒ MIqQffI_ƒ +c€~Iƒ IQ_Iƒ :IVEfhoIcy
wGVLk– ‚@x–M[kLh–‚[JLsO?VsLk–Zwy– ~kJ–j[GVy–xy[cc–O•s–wZGV–†~–cMwLj–
fh_HVQFOUIQhƒ %QIfIƒ '_hqQFUVl_Mƒ Vffhƒ fQFOƒ Mlhƒ D_ƒ HI_ƒ ADOVI_ƒ HIcƒ
~GV– [k– )[zyLcac@xwLO?h[c[Lj– O•s– I[L– •GVLt– LtwGVƒ[kQc[GV– w[kJ–
oa_ƒ HIlhfFOI_ƒ =IcVDMI_ƒ oIcUDlLhI_ƒ |EIcfIhul_MfVQuI_uI_ƒ _DFOz
>pIMt–‚?sLk
– ‚occMk– I[M– &L~yL– MVLs– ‡~x@hhLkx[y†Mj– ~jJ– OLskwL‹
oaWWvQIOI_ƒ BgQIOIƒ &QDMeD[\ƒ ƒ ƒ ?lcHI_ƒ Q[ƒ 0DOcƒ ƒ ul_FOfhƒ
VMk–?cx–x[GV–pk–JLj–@jILsMk–@D†}wpkJLtk–!k– @h[e[Lk–ILt–sDL[Œ
ƒ 3QuI_uI_ƒ Q_fƒ "lfVD_Hƒ oIcUDlLhƒ faƒ qDcI_ƒ Ifƒ "_LD_Mƒ HIcƒ Icƒ
zLtac@wwM– ‚‘tM– J@w– wo‚[Lxo– xLVs– xGV‚[Lt[R– ;[M– xocc– h@j– 0~VL–
0DOcIƒEIcIQhfƒEIcƒ ƒ "Eƒ ƒQfhƒIQ_IƒfhIhQMIƒAl_DO[Iƒ HIcƒ=Icz
O[kJLj– ‚Mkj– h?j– h[y– w[LD‡MVk– &L~yLk– [k– L[kLh– @~w– h[y– [Ls–
UDlLfuDOVI_ƒ ulƒ oIcuIQFO_I_ƒ HQIƒ HIcƒ #€cfI_oIcIQ_ƒ HIfƒ HIlhfFOI_ƒ
<[hhLtl– ‚oVkz– ;[GVy[R– [xz– J@xw– •GVLt– [hhLt– O•s– $[jJMt–
#lFOOD_HIVfƒ DlLMcl_Hƒ IQ_Icƒ LcIQqQVVQMI_ƒ TOcVQFOI_ƒ #ILcDMl_Mƒ Icy
O•t– I[L– 4GV~cM– RLa@~Oy– ‚LtJMk–4oR@t– 'MVsLt– V@DMj– ‚Mk[R– [j‹
[QhhIVhƒ l_Hƒ oIc€LLI_hVQFOhƒ B#lFOƒ l_Hƒ #lFOOD_HIVƒ Q_ƒ ADOVI_Cƒ %QIƒ
Oc~wx–@~O–J[M–~w‚@Vc–ILs– •GVLt– JLt–[sMaypt– pJLt–wL[k–4yLccLtŠ
DUhlIVVfhIƒ ADOVƒ EIuQIOhƒ fQFOƒ DlLƒ HDfƒ 0DOcƒ ƒ ƒ }EIcz
ztLyLs– wFV@OOMk– •FVMs– ?j– ~jJ– J?w– ~JRLy– [xy– CLRtLj‡y– w– R[Cy–
fIhul_MfVQuI_uI_ƒ Ua__hI_ƒ HIlhfFOIƒ =IcVDMIƒ Q_ƒ HQIfI[ƒ 0DOcƒ Q_fƒ
j[M– RLj~R– •FVMs– ?~Ls– [k– c[yL4FV~cLk– !h–wFVc[hhwyLj– ?cc–
"nfVD_Hƒ pKeUDnLK_ƒ 5QFOiƒ DVVIƒ >IdVDMIƒ bDdhQwQbQIdI_ƒ D_ƒ HQIfI]ƒ
cLtkMj– J[L– $[kJMt– h[y– L[kMh– ~GV– rto– $c?xwL– ~kJ– 8jzMts[FVyw‹
+IfFOLhƒMVIQFOIc[D~I_ƒ1VIQ_IcIƒ=IcVDMIƒODEI_ƒaLhƒ_QFOhƒHQIƒLQ_D_z
O@GV– 7jJ– J[MxLw– M[kL– ~GV– U@z– JLs– &LVtLs– !h– DLwyLj– @cc– R[Dy– Lw–
uQIVVI_ƒ l_Hƒ bIcfa_IVVI_ƒ 9IffalcFI_ƒ Lcƒ IQ_ƒ IcLaVMcIQFOIfƒ 3QuI_uy
†‚?k‡[R–•GVMt–O•s–ItL[[Q–4GV•cMt– ;Mkk–h@k–M[k–~GV–Lsc[Mty–
MIfFOLhƒ 'fƒLIOVI_ƒHQIƒ 1a_hDUhIƒulƒbahI_hQIVVI_ƒ +IfFOLhfbDch_Ic_ƒ
oIMt– DLwFV‘J[Ry– ‚[sJ– h?k– DLwys@Oy–)@j–a@kk– Mx–k[FVy– k@FV– @}‹
Q[ƒ "lfVD_Hƒ \Qhl_hIcƒ ODEI_ƒ fQIƒ DEIcƒ fFOVQFOhƒ DlFOƒ _QFOhƒ HDfƒ I_h
wL– hZykMVhLk– ~kI– w[FU– ?jL[RkLk–7jJ–4GV~cC•GVMt– w[kI– O•s– /t•Š
fbcIFOI_HIƒ "_MIEahƒ HDfƒ fQFOƒ DmLƒ HI[ƒ Q_hIc_DhQa_DVI_ƒ 4DcUhƒ Ic
O~kRMk– I@–;Mkk– h@k– I}sGVO‘ccy– V@z– J@w–~GV– MZkLk– [h–4z[GV– RLŠ
LaVMcIQFOƒ D_EQIhI_ƒ VQI~Iƒ -_ƒ %IlhfFOVD_Hƒ Qfhƒ Ifƒ IQ_Iƒ Q_ƒ IhqDƒ MVIQFOƒ
c?xwMj–@x– CMIL~yMy– I?xx– •GVMt– pOy– h[y– Lxys@O~jR– @wwo†[[Msy–
EVIQEI_HIƒ ADOVƒ oa_ƒ U_Dbbƒ ƒ =IcVDMI_ƒ HQIƒ fQFOƒ DUhQoƒ l_Hƒ [IOcƒ
‚MtIMk– ~MsILh–V@CLl–‚[t–M[kL– R@j‡L– &MVtLtRLjMt@z[oj– J[L–
oacD_ƒ _DhcVQFOƒ HQIƒ )cD_ULlchIcƒ #lFO[IffIƒ HQIƒ fQFOƒ ƒ Ic_Ilhƒ
wLcDLs– j[M– I[L– tL~ILk– ILx– %MwLjw– MtcLDz– oJMt– <~R?jQ– †~– M[jLt–
HlcFOƒƒ"lffhIVVIcƒDlfƒ ƒ3_HIc_ƒ\QhƒHIlhVQFOI[ƒ "EfhD_HƒDVfƒ
•GVMtL[– RLV@Dy– V@y– +~s– [cJ~kR– Lsh”Rc[FVy– wo†[@cLj– ~Owy[LS–
HQIƒ Mc€~hIƒ l_Hƒ Q_hIc_DhQa_DVfhIƒ #lFO[IffIƒ EIfhhQMhƒ ODhƒ :FOhy
~GV– ‚Mjj– _Ly†y– I[MwL– )”Rc[FVaL[y– [LcMk– j[FVz– hLVs– oOOLk– xyLVy–
ul_MfqIQfIƒ uqIQƒ %cQhhIVƒ DVVIcƒ =IcVDMfVQuI_uDEfFOVffIƒ qIcHI_ƒ DlLƒ
‚L[c– [LcL–w[GU– 4FV}cD[cI~jR– k[GVy– hLVt–eM[xyLj– `”jjLj– 5toy‡JLh–
#lFO[IffI_ƒ IQ_MILHIVhƒ l_Hƒ l_hIcfFOcQLhfcIQLƒ oIcOD_HIVhƒ %QIƒ
;Lt– ?th–[wy– `@kj–j~t–J~tGV–[cJ~jR–@~OxyL[RLj–4o– [wy– IMt–t~G`–
#lFO[IffI_ƒfQ_HƒLcƒHQIfIfƒ +IfFOLhƒHIfODVEƒfaƒqQFOhQMƒ qIQVƒoQIVIƒ
J[M– /t•O~kRMj– †~– wFV?OOLj– ~jJ– kZFUy– wr[LcMs[xFV– hZy– ILh– &LskLj–
1a_hDUhIƒ hcahuƒ '4DQVƒ l_Hƒ ._hIc_Ihƒ _DFOƒ rQIƒ oacƒ EIcƒ HDfƒ bIcf€_VQ
~h‡}QLULj– Qso– •FULs–V?CLj–l[GVyw–h[y– )•ZRQ?jQ–†~–y~j– w[M–
JOIƒ+IfbcFOƒqQcUl_MfhcFOhQMƒqIcHI_ƒ=QIVI_ƒ=IcVDMI_ƒQfhƒIfƒqQFO
w[kJ–†~h– %MtjMk–J?–
hQMƒ ulƒ qQffI_ƒ Q_ƒ qIVFOI[ƒ =IcVDMfl[LIVHƒ HDfƒ ?IcUƒ HIfƒ IQMI_I_ƒ
cIƒ $OQcQUlcIƒ HIffI_ƒ "lLhcQhhIƒ qQIƒ EIcODlbhƒ IQ_ƒ +ca~hIQVƒ fIQ_Icƒ
"cEIQhƒ flEhQVƒ cIQFOƒ D_ƒ "ffauQDhQa_I_ƒ l_Hƒ fFODlfbQIVIcQfFOƒ Q_hIc
MIfFOhuhI_ƒ "lhacfƒ Q[ƒ "lfVD_Hƒ oIcVIMhƒ rIcHI_ƒ qQcHƒ %QIƒ )cD_U
/ """/ 5 !&/ !/ $/ ($/ $%% / / /
LlchIcƒ#lFO[IffIƒDVfƒQ_hIc_DhQa_DVIcƒ#cD_FOI_hcILLƒLQ_HIhƒDEIcƒ_lcƒ
"//'"/ $/ ""/!&/($'""/
IQ_^DVƒ Q[ƒ 0DOcƒ fhDhhƒ %QIƒ -_hIc_DkQa_DVIƒ "EhIQVl_Mƒ HIcƒ )cD_ULlchIcƒ
[L–<[McM–€oj–;L@Lt–x[jJ–JLjMk–xLVs–‘Vkc[GV– JZL– ~RU– &M‚[j–~kJ–
#lFO[IffIƒ EQIhIhƒ HIlhfFOI_ƒ =IcVIMIc_ƒ l_Hƒ =IcVDMf[QhDcEIQhIc_ƒ
[FV– CL[– ?pD?D– ooaw– €LtOocRy– V@yyLl– LxokILtw– R~yL– &[yMt@z~t–
HDOIcƒ IQ_Iƒ UafhI_M_fhQMIƒ #IhIQVQMl_Mƒ D_ƒ Q_hIc_DhQa_DVI_ƒ #lFO
@~w– <[hD@D‚L– ‡~– €Lt”OOLlyc[FVLj– ?~GV– k[GVyO[ay[ok?cL– 5M„yL– h[{–
[IffI_ƒDlLƒHIcƒMD_uI_ƒ?IVhƒD_ƒ l[ƒfQFOƒOQIcƒaO_IƒMca~I_ƒ"lLqD_Hƒ
JLk– 4GU‚Lsr~jayLl– MwFV[FUzL– /pc[y[a– xo‡[ocoR[wFUL– 4z}J[Lk–
Q_ƒ IQ_I^ƒ bcaLIffQa_IVVI_ƒ <[LIVHƒ [Qhƒ fIQ_I[ƒ "_MIEahƒ bcfI_hQIcI_ƒ
~jJ– t@~LkyVMhLk– oswFV~jR– •CLt– <[hD@C‚L– aohhy– oOz– j[FVy–
ulƒ U€__I_ƒ "EIcƒ DlFOƒ HQIfIƒ 4IffI_ƒ fQ_Hƒ _DhcVQFOƒ Q_ƒ HIcƒ 9IMIVƒ
V[Mt– ?j–8kJ– ‚Ljj– J@kk– w[lI– J[M– •GVLs– xp– yM~Ls– J?wx– k[Lh@kI–
Ulcuƒ l_Hƒ Ifƒ MIVQ_Mhƒ HDOIcƒ _QFOhƒ Q[[Icƒ fQFOƒ Q_ƒ HQIfIcƒ UlcuI_ƒ AIQhƒ
w[M– DL†?VcLj– a?kk– ;[s– @tDL[zLk– LkR– h[y– [kyLsLww[LtyLk– 9Ltc?‹
IQ_I_ƒ }EIcEVQFUƒ ulƒ HI\ƒ TIqIQVQMI_ƒ 4DcUhƒ ulƒ oIcfFODLLI_ƒ <_Hƒ
QLj–‚[L–"?hLw–~tsL…–†~w@hhLj–~jJ–DLh•VLj–~jw– ”tJMs~lRw‹
OQIcƒ Ua[[I_ƒ HQIƒ HIlhfFOI_ƒ #lFOQ_Lac[DhQa_fuI_hcI_ƒ l_Hƒ
h[yyMc– †~– DMaohhLl– oJLt– 8jzMtxy•y†~kR– I~sFV– ILj– ~zps– ~h–
HDfƒ +Ic[D_ƒ#aaUƒ 6LLQFIƒ Q_fƒ :bQIVƒ :QIƒEQIhI_ƒHIlhfFOI_ƒ=Icy
•FVLt– J[L– xFVok– [h– ~wc@jI– Lt”OOMkzc[GVy–‚ptILk– w[jJ– ‡~s•Ga–
VDMI_ƒfIQhƒ 0DOcI_ƒ QOcIƒ %QI_fhVIQfhl_MI_ƒD_ƒ%QIƒL_Lƒ "lfVD_HfEcafƒ
[kx– %?kJ–Ct[kRMj–‡~–`”kkLk–
HIcƒ )cD_ULlchIcƒ #lFO[IffIƒDcEIQhI_ƒDVfƒ_a_LacbcaLQh'Q_cQFOhl_y
MI_ƒ Q_ƒ ?DcfFODmƒ #lUDcIfhƒ 4afUDlƒ l_Hƒ 8IUQ_Mƒ l_Hƒ HDfƒ +#6ƒ Q_ƒ
"/$/ $"%"/ '&'$/ &/%/#/"/$&#"/%/ $*,+
5Iqƒ @acUƒ "lLMDEIƒ HQIfIcƒ #cafƒ Qfhƒ Ifƒ ?IcEl_Mƒ Lcƒ HQIƒ HIlhfFOIƒ
"%/
#lFObcaHlUhQa_ƒ DlLƒHI_ƒTIqIQVQMI_ƒ 4cUhI_ƒoacƒ6chƒulƒ[DFOI_ƒl_Hƒ
@w–‚[sJ–VM~yL–pOy– soh?kyZx[Lsy– 4[GVMtc[GV– ?h– L~Mt–‚~tJMj– yt?‹
fQFOƒ Lcƒ HQIƒ =IcEcIQhl_Mƒ HIlhfFOIcƒ 3QhIcDhlcƒ ulƒ I_MDMQIcI_ƒ 7QIƒ
I[y[ojwRLh‘– LwGV[FUzLk– Ls‡‘Vcz– ~kI– J[M– ot@cM– &ZzMt?y}s– ‚@s– L[j–
*dD_ULndiIeƒ #nFO\IffIƒ EIhcIQEhƒ HQIfIƒ #eafƒ ]Qiƒ <_iIegi‚ivl_Mƒ
ƒZGVyZSLt– 5L[c– ILs– ys@I[y[pkLccMl– MhM[lxHV@P{– @DMt– VM~{M– cMDMl–
HlcFOƒl_HƒQ_ƒ 8Dch_IcfFODLhƒ[QhƒHI[ƒ"lfqchQMI_ƒ"\hƒ %QIƒ#cafƒ
wLVt– [McM– $[kJLt– ?cw– ‡‚M[yM– Jt[yyL– LjMt@y[ok– [k– JLk– wz‘Jy[wFVLj–
DcEIQhI_ƒ_QFOhƒ DVfƒ"MI_hlcI_ƒQ[ƒEVQFOI_ƒ :Q__Iƒ fa_HIc_ƒ oIcfhIOI_ƒ
?cc~kRxQLC[MyMk– [M– cyMsk– RLVMj– hosRLkw–~h–€[Mt– 8Vs– ‡~t– t‹
fQFOƒ DVfƒ "_VDlLfhIVVIƒ Lcƒ DVVIƒ )cDMI_ƒ HQIƒ HI_ƒ EQVDhIcDVI_ƒ "lfhDlfFOƒ
CM[y– ~kJ– aohhLk– k?GV– [kDt~GW– JLt– ~laLcVL[y– †~s•Fa– @VMt–
urQfFOI_ƒHI_ƒ#lFO\cUhI_ƒEIhcILLI_ƒ4QhƒQOcIcƒ 'sbIchQfIƒumƒHI_ƒTI
Qc@~CL– [GV– k[FVz– J@ww– Lw– VM~yL– kpGV– [LcM– ?h[c[Lk– R[Cy– [k– JLkLk–
qIQVQMI_ƒ 4cUhI_ƒ fQ_Hƒ fQIƒ D_IcUD__hIƒ 1a_hDUhfhIVVI_ƒ Lcƒ *cDMI_ƒ
I[L– $[kJLt– ?~P– h•jJc[GVLh– ;MRL– Ly‚@w– pk– [VsLl– 5t@J[z[okLk– Mt‹
_DFOƒ [€MVQFOI_ƒ +IfFOLhfbDch_Ic_ƒ ulƒ %QfhcQElhQa_f[€MVQFPUIQhI_ƒ
O@VtLj– oJLt– R?t– ;L[xVM[y– h[ySMzL[cy– DLaphhLk– w– ‚‘tL– xGV”k–
)cDMI_ƒ HIfƒ 's l_Hƒ -[bachfƒ l_Hƒ DVVI_ƒ #IcIQFOI_ƒ HIfƒ #lFO l_Hƒ
‚Mkk–[GV–I?x–O@cxFV–w‘VL–
qcHIƒ QFOƒ fDMI_ƒ IQ_Icƒ oa_ƒ uIO_ƒ 4I_fFOI_ƒ Q_ƒ AQ[EDEqIƒ fFOcIQEhƒ
HQIƒ ,IVHQ_ƒ IQ_Iƒ VIfEQfFOIƒ uQ[EDEqQfFOIƒ *cDlƒ qcIƒ U€__hIƒ Ifƒ HDfƒ
+IHQFOhIƒ DEIcƒ _lcƒ IQ_Icƒ l_hIcƒ IQ_Icƒ 4QVVQa_ƒ UDlLhƒ fQFOƒ IQ_I_ƒ +Iy
#QVHƒ oa_ƒ ,a[afIslDVQhhƒ EIQƒ IQ_QMI_ƒ 4I_fFOI_ƒ oIc_HIc_ƒ %Dfƒ
#mFOƒqcHIƒHQIƒ 4I_fFOI_ƒoQIXVIQFOhƒ_QFOhƒ_HIc_ƒ DEIcƒIQ_ƒD_HIcIfƒ
HQFOhED_Hƒ
=Icfh_H_Qfƒ L€cHIc_ƒ
'fƒ O_Mhƒ DEIcƒ DlFOƒ HDoa_ƒ DEƒ qQIƒ [D_ƒ MIy
0"H (#H;#5+:$#0H8528?"#/H G!&#5H
VIc_hƒODhƒ 3QhIcDhlcƒ ulƒVIfI_ƒ |EVQFOIcqIQfIƒ qDcƒ 3QhIcDhlcƒ IQ_ƒ 4QhhIVƒ
#IQƒ #DaEDEƒ oIcUDlLhI_ƒ qQcƒ Q\ƒ %lcFOfFO_Qhhƒ ƒ 'sI[bVDcIƒ IQ_Ifƒ
HQIƒ ?QcUVQFOUIQhƒ ulƒ IcUVcI_ƒ /FOƒ qlcHIƒ [Qhƒ HQIfI_ƒ oQUhacQD_QfFOI_ƒ
9a\D`fƒ Q\ƒ0DOeƒ%DfƒqDeƒ `QFOiƒfFOVIFOiƒ .]ƒ"nMI_EVQFUƒfIiwI_ƒqQdƒ
2Q_HIeMIgGOQGOiI_ƒIevaMI_ƒ +lhIƒUVIQ_Iƒ4HFOI_ƒoIcOQIVhI_ƒfQFOƒfaƒ
DEIcƒ _lcƒ ƒ aHIcƒ qI_QMIcƒ 'sI[bVDcIƒ oa_ƒ IQ_I[ƒ 9a[D_ƒ Q[ƒ 0DOcƒ
9Lsc@Qw‚LwLkw–9Msc@RwV‘~xMt– ‚LjILk– w[FV– ?k– J[L– !<-– ‚Mjk–
DEƒ <_MILOcƒ ƒ Q_ƒ AQ[EDEqIƒ l_Hƒ ƒ EQfƒ ƒ Q[ƒ "lfVD_Hƒ 6O_Iƒ
Mw– I?t~h– QLVy– ILj– t[FVy[QMk– CLswLz†Lt– O•s– M[k– ;Lt`– †~– O[kJLj–
AlfFOffIƒ U€__hI_ƒ qQcƒ qDOcfFOIQ_VQFOƒ _QFOhƒ EIcVIEI_ƒ -[ƒ 4az
oILs– /spCcLhL– DL[– JLt– 9Mtyt?Rw?Cƒ[F`c~jR– ?~OytLzMk– Ls– :otyLZc–
[I_hƒ qQcHƒ HDfƒ 3QhIcDhlcbcaMcD[[ƒ oa_ƒ B,l[D_Qfhƒ /_fhQhmhIƒ
ILs– ~wc?kIwC•tpx– e[LQy– @~O– ILs– @jI– w[L– ?Q[LsLk– R?j†_‘Vs[R– ?~O–
Lacƒ $aabIcDhQa_ƒqQhOƒ%IoIVabQ_Mƒ $al_hcQIfZƒ IQ_Icƒ_QIHIcV_HQfFOI_ƒ
[UtLh– _LƒL[c[RLj– )?tay– w[jI– J?h[y– j?VL– ?k– ILk– _L‚LZc[RLk– 5tMjIw–
B5a_+aoIc_[I_h6cMD_QfDhQa_ ƒ "_\IcUl_Mƒ HIcƒ 9IHDUhQa_ƒ
~jJ– jzƒZF`c~kQLk– ps– -ty– aLjjLj– I[L– `~cy}sLccMj– 9osc[LCLj– ILs–
l_hIcfhhuhƒ .FOƒ qIQ~ƒ _QFOhƒ rDfƒ bDffQIchƒ qI__ƒ HQIfIƒ *€cHIcl_Mƒ
%LwLtwFU?Oy– ~kJ– J[L– LrOcoRLkVL[yLj– [h– MwGV‘OywcMDLk– `y~LccL–
I_HIhƒ
!jOosh?y[okLj– †~– h”Rc[FVMj– kwrsMFUr?tyjLsk– w[jJ– [jwDLwokJMsL–
l_HƒE€fIƒfaƒ%QIƒIlcabQfFOIƒ 3QhIcDhlcƒ ODhƒfQFOƒHDƒqIQhIcI_hqQFUIVhƒ
~FVaoccLay[ojLk–JL~ywFWMt–9Lte@QL– †~w?hhLk–
[k–?~wQL‚‘Vc
oa[ƒ :hclqqIVbIhIcƒ umƒ 8QbbQƒ 3D_Mfhcl[bLƒ -_ƒ HI_ƒ [IQfhI_ƒ 1lVhlz
yLk– &‘kJLsk– @j– ‚LFVwLclJLj– -tzLj– •DLs– L[kLk– e‘jRLsMj– <LZyt?~h–
cI_ƒ qlcHI_ƒ 4cFOI_ƒ Lcƒ bHDMaMQfFOIƒ AqIFUIƒ MI_lhuhƒ TIƒ EIffIcƒ
TL†L[Ry– ‚~tJLj– [MwL– $pccM`z[okLk– ‚~sJLk– D@cJ– †~– L[jLh– wz?t`–
qDcƒ HDfƒ -FOƒ
fQIƒ MIfFOcQIEI_ƒ qDcI_ƒ HIfhaƒ qI_QMIcƒ
k@GVRLOs?RyLj– 4GU@}OLlxzMt– JL~ywGVMs– ~jJ– ‚Mwzc[GVMs– ~GV‹
MVDlEIƒQ[[Icƒ _aFOƒ HDffƒoQIVIƒ 4I_fFOI_ƒOQIcƒ 3QhIcDhlcƒ [QhƒHIcƒ'cz
a}cz}t– [L– !JLM– †~– L[jLt– rLsh@jLkzLj– ~GV@~wwyLcc~jQ– [l– )owŠ
qDchl_Mƒ VIfI_ƒ IQ_Iƒ 3IUhQa_ƒ ulƒ EIUa[[I_ƒ l_Hƒ _QFOhƒ "[EQoDVI_uƒ
`?~– c?Q– ?cwo– wp†~w?RLk– [k– ILt– &~Oz– ?cw– /LyLs– ;L[JV??w– JLt–
-_ƒ fQFOIcƒ ƒ 8cauI_hƒ HIcƒ 4D_lfUcQbhIƒ HQIƒ [D_ƒ l_fƒ l_DlLMILacHIchƒ
I@h?c[QL– [tMayos– ILs– s@jaO~tzLs– ~GVhLwwL– J?h[y– CLR?jk– w[L–
ulfFOQFUhƒ qQcHƒ MIbcIHQMhƒ l_Hƒ _ac\DVIcqIQfIƒ MQEhƒ Ifƒ HDƒ HQIƒ MlhI_ƒ
[j– J[L– 5@y– ~h‡~wMy†Mk– @x– )owa?~– ƒ~tIL– h[y– 4[y‡– [h–pLyVMŠ
4I_fFOI_ƒ BaLhƒ 4__IcCƒ l_Hƒ HQIƒ E€fI_ƒ BaLhƒ )cDlI_Cƒ faqQIƒ HQIƒ MD_uƒ
!jwy[y~y– QLQt•jJMy– ~jI– †L]Rz– C[w– VL~zL– ƒLFVwLckJL– ~FV`occLaz[o‹
fFOcIFUVQFOI_ƒ4I_fFOI_ƒ B%QIEIƒ 4€cHIcƒ l_Hƒ UacclbhIƒ 8aVQhQUIcCƒ
jMk– ‡~– LtwFV[LJLkLj– 6 VMhLk– [L– ~OQ@CLj– V@DMk– w[FV– h[z– JLt–
I?jj– ƒZFUy[Q– ‚Mjk– I[L– /Lswok?cOc~ay~@y[ok– Zj– JMj– 9Lsc?RLj– Qso–
8(//8H#6H"#00H "66H #6H+#(0#H (88#,6!&(!&8H/#&5H%( 8H
Zwy– ZL– O•VtLj– ?}GV– €os– -sz– )@taysMGVLsFVLj– †}– M[k‡Lc‹
5IQ_ƒ HQIƒ 4QhhIVUVDffIƒ Qfhƒ _QFOhƒ MD_uƒ oIcfFOql_HI_ƒ HQIƒ \IQfhI_ƒ
jLj– 5L[ch‘tayMk– I~tGV– ,@y•sc[FU– `”kkLk– j[GVy– @ccL– [LjwzcM[wŠ
3IlhIƒ HQIfIcƒ :FOQFOhƒ ODEI_ƒ _lcƒ Q[[Icƒ Mc€~IcIƒ rQchfFODLhVQFOIƒ
y~kQLj– aowyLlOsL[– J~tGVRLO•Vsy– ‚MtILj– [jwCLwpkJLtL– J?kk– k[FVy–
8caEVI[Iƒ <_Hƒ fQIƒ Qfhƒ UVIQ_Icƒ MIqacHI_ƒ =QIVIƒ Mlhƒ "lfMIEQVHIhIƒ
‚Ljj– I[M– _LƒL[c[RLk– t?RLwyLcc~jQLj– xMUs– wrL‡[Lcc– ~jI– @~Oƒ‘kI[Q–
fQ_HƒLachMIMD_MI_ƒ%QIƒ1VDffIƒHIcƒ6EIcfFOQFOhƒ HQIƒl_oacfhIVVEDcI_ƒ
sLFVLtFVZLty–ƒMtILk–h•wwLj–4o–V?y–I?w– /La[kR–[h–cLy†yMk–"?Vt–
9IQFOhl[ƒ EIfQhuhƒ Qfhƒ fIOcƒ oQIVƒ Mc€~Icƒ MIqacHI_ƒ <_Hƒ HQIƒ ADOVƒ HIcƒ
L[kL– 4y~J[L– †~h– $[kJMs ~kJ– "~RLjJD}GVh?tay– [k– V[l?– LswzLccy–
IshcI[ƒ"c[I_ƒQfhƒl_Ic[IffVQFOƒMIqDFOfI_ƒ
?w– ;?twFV@~– C[MzLy– R?k†– @ay}Lcc– L[jL– 7lyMsw~FV}jR– †~t– 4yLcŠ
c~kQ– ILw– IM~ywFVwrs?GV[RLj– ~FVMw– [j– /ocMj– ?k– I[L– w[GV– [l– LswyLs–
(#H /#(68#0H #:8#H +F00#0H 6(!&H ,62H +#(0#H G!&#5H ,#)68#0H :0"H "(#H
&[j[L– ?k– [wyt[D~yptLl– ‚LkIMy– :ok– MjzwFVL[JLjJLh– 9otyL[e– O•s–
#6H+F00#0H 6(0"H0(!&8H(08#5#66(#58H
IL~ywGVL– 9Ltc?Rwh[y@tDL[yLs– [wy– J[L– 6?yw@GVL– J?ww– w[GV– J[L– &M[yLŠ
-FOƒ MVDlEIƒ HQIƒ 4IOcuDOVƒ HIcƒ 3IlhIƒ HQIƒ fQFOƒ #FOIdƒ UDlLI_ƒ U€__z
s[jkLj–ILs–•sow– j[GVy– j~t– @~O– JLh– )@taz– €ps– -ty– @~waMkjMj– wok‹
hI_ƒ ODhƒ UIQ_ƒ -_hIcIffIƒ 4Qhƒ +IVHƒ UDmLhƒ [D_ƒ DVVIfƒ 4€MVQFOIƒ :hDhlf
JLtj– wLcDwzLtxz‘kJc[GV– @~GV– @~wRL†LZFUlLyM– $LkkLs[kjLk– JLt–
aETIUhIƒ DEIcƒ UIQ_Iƒ#FOIcƒ
IM~ywFVLj– &[yLt@y~t ~kI– 9Msc@Qw†LjL– w[kJ– [Lw– MtM[jO?FVy– J[L–
)”Rc[FVaM[yLk– O•t– M[lMl– t•HaMlxGVc@R– [l– J[M– :Mtc@SxDt@lGVM– JMw–
(8H#(0#/H :!&H+00H/0H0(#/0"#0H ##(0"5:!+#0H
_LƒL[cZRLj– &?jJMw– ZL– tOpcRwRLwFV[FVyL– ILt– DLR[kky– –
?I__ƒ :QIƒ HQIƒ 3QhIcDhlcƒ EIhcDFOhI_ƒ HQIƒ qQcƒ EIQƒ #DaEDEƒ #aaUfƒ ul[ƒ
h[z– JMt– t”OOj~jR– JLw– M~ywFVLj– }GV[jOpth?z[ojw†Llys~hw–
1cQIMƒ OIcDlfMIEcDFOhƒ ODEI_ƒ qQIƒ u#ƒ 02!&#0H l_Hƒ !&88#0A
)owa@}– 9oh– $occ@rw– JLw– roc[z[wGVMj– 4…wyLhw– ‚?t– j@y•tc[FV– I[L–
,(!&8H oa_ƒ $OI_TIcDQƒ ,aoIƒ <06H oa_ƒ $ODcVIfƒ :D[lbQ_HQƒ !&2(0%H
RLw?hyL– s}ww[wGVL– ;[tzxGV@Oy– DLysoOOLk–Lh– ~GV ~kJ– 9Mtc@RwŠ
6(,#0!#6H l_Hƒ $$258,#66H 8#56H oa_ƒ "VIsD_HIcƒ 1D_I_Ma_Qƒ :#B
‚MwLj– `ohhy– [j– ?~ypt[y‘tLk– 0LS[hLk– [hhLt– L[kL– DLwpkJLtM–
5(,,H 60:$$H oa_ƒ 4DLlcD_l_uQƒ +l[Eaƒ (8&2:8H H 0/#H oa_ƒ @ oa_z
LJM~y}jR– †~– ƒL[c– Lw– @cw– 5L[c– JLw– /tpr?R@jI@@rr@s?yMw– L[kM– DM‹
_Iƒ =IcDƒ '(8#H /0H -!+H <5H oa_ƒ #clFIƒ 4aacI1Q_Mƒ l_Hƒ 0C
wokILsL– +‘VL– ‡~t– roc[z[wGVLk– •Ut}kR– U?z–~tGV– J[L– ys@J[y[okLec–
">H oa_ƒ "_Mlfƒ :ODqƒ faƒ EahI_ƒ HQIfIƒ #FOIcƒ IQ_Iƒ LDFIhhI_cIQFOIƒ
S~{Mj– M‡[MV~lRMl– ˆ~t– 1– DMw{AlJ– [l– 2~wwc@mJ– •EMu– e@kRL– <M[z–
:QFOhƒ DlLƒ HI_ƒ #ILcIQl_MfUcQIMƒ (fƒ Qfhƒ l_MIOIlIcƒ qQFOhQMƒ Lcƒ IQ_Iƒ
L[j– sLQLw–!jyLtLwwL–@k– JL}yxFVLt– $~cz~t
– J@w– ~@–•DLt– I[L– LtJLt‹
+IfIVVfFODLhƒ AlMD_Mƒ ulƒ 3QhIcDhlcƒ ulƒ ODEI_ƒ ?I__ƒ _QI[D_Hƒ HQIz
gjwy[y~yL– DLJ[Lky– ƒ~sJL– [M– roc[y[wFWLj– :Ms‘lJLs~kRLk– Lky†pRLk–
fIƒ 3QhIcDhlcƒ oIc€LLI_hVQFOhƒ MIOhƒ fQIƒ oIcVacI_ƒ :IVEfhƒ qI__ƒ Ifƒ fQFOƒ
M[jLt– osywLy†~lR– J[MwMt– tDL[z– _LJoFV– _LJMk–pJMk–?w–!jyLtLwwL–
@j– JL~ywGVLt– '[zMs@y~s– Cc[MD– ?CMt– ‚M[yMsV[j– CLwyMVMl–
[j‡~– a@h–
jy‚[Gac~jQ– JLw–t~ww[wFVNk– ?CMt–?}GV–ILw– JM~zwFVLk– ~FVh?t`yw–
(#6#H#=8#H;#5F$$#08,(!'#0H(#H0(!&8H
Oosyc?~OMkI– Lt‘kJMsy– !n–JMk– DL[JLk– pcRL_?VtLk– k@GV–ILh– 4y?sy–
5IQ_ƒ :FOVIFOhƒ +IfFOcQIEI_Ifƒ LVDFOIƒ $ODcDUhIcIƒ l_Hƒ IQ_Iƒ EIVIO
ILw– )pwa@~–‚~sJLj–J[M– [k–;?twGV@~–~kJ–[k–~a?sLwy–Lt”OOŠ
cI_HIƒ 'cuOVODVhl_MƒMIO€cI_ƒ aLhƒ ulfD[[I_ƒ
lLy–~FU– V[Mt– V?yyL– h@j– Nw– hZy– }GVh‘tayLj– [h– 7hCt~FW– †~– z~j–
!k–DL[JLk– %‘jJLtk–wr[Mcy–J]M–IL~yxFVL–4rs@GVM–aL[kM–~kCLJL~zLkIL–
0occL–
0"#58H "(#H "#5?#(8(%#H 32,(8(6!&#H (8:8(20H #8<6H $G5H (#H 5%# #0H
[j– /ocLk– @~ORs~kJ–JMt– ,‘VL– ‡~– L~ywFVc?kJ–~kJ– [j–~a@tLxy–
6(!'H 52 ,#/#H $G5H (#H ,6H #5,#%#5(0H (#H 5#%(#58H "(#H #%(#5:0%H
I~sGU– J[L– JL~zwFUwrs?GV[RL– )[jJMtUL[y–[j–4[LDLkD•tRMk– ~FV– V[Ls–
:$H G!&#5H<(#H D5(8(0%H68(,-@H 2"#5H%( 8H #6H +#(0#H #+8(20#0H
ƒ~tIMk– J[M– ƒLFUwLcjJMj– ~FU`pccLay[ojMk– h[z– SspLh– !jyLsLwwL–
?Qcƒ ODEI_ƒ UIQ_Iƒ 8caEVI\Iƒl_Hƒ ODhhI_ƒ _QIƒ qIVFOIƒ ?Qcƒ ODEI_ƒ UVIQ
€pk– L[jLt– 9[Lc†?Vc– €oj– )NjwGVLk– €ok– 9Ltc?Rwh[z@tCL[yLtj– ?DLs–
_Iƒ "lLVDMI_ƒ _QI[DVfƒ [IOcƒDVfƒ ƒ 'sI[bVDcIƒ %DfƒQfhƒEIcODlbhƒ
?~FU– €ok– ?ccRLhM[k– !jyLsNwwZLtzLk– ELw~FVy– L[JM– ~FVh‘sayL–
_QFOhƒ oa_ƒ #IHImhl_Mƒ Q_ƒ IQ_I[ƒ 3D_Hƒ oa_ƒ uIO_ƒ 4QVVQa_I_ƒ 4I_fFOI_ƒ
ILs– rock[wGVL– ‚[L– JLs– t~h‘j[wFVM– V@zyLj– L[kL– rc@j‚[tywFV?Oyc[FVL–
DlFOƒ qI__ƒ HQIƒ ,VLhIƒ HDoa_ƒ 1Q_HIcƒ fQ_Hƒ ?I__ƒ
IQ_ƒ l[fhcQhhIy
9LsR?jQLjUM[y– V@yzLj– ?CNt– CL[– JLs– 7hwyLcc~jR– [WsLs– )‘sayL– wLVt–
_Ifƒ baVQhQfFOIfƒ 8D[bOVIhƒ Q_ƒ IQ_Icƒ IQ_OIQ[QfFOI_ƒ :bcDFOIƒ Q_ƒ IQ_Icƒ
MtwGV^MJMlM– .tqDcMhM– ˆ~– DMƒ’c{[RMl– [M– ;[t{wGVAP{– [l– 2~i“l[Mk–
Ol_HIchhDlfI_HIcƒ "lLVDMIƒ OIcDlfEcQ_MI_ƒ qcHIƒ HD__ƒ qcHIƒ HQIƒ
c?R– k@FV– JMj– "?VsMk– ILs– 3LR[Lt~jR– J~sFV– L@~FwMwG~– IMs?tz– @h–
9IMQIcl_Mƒ fQFOƒ HD[Qhƒ EIfFOLhQMI_ƒ"EIcƒ IQ_ƒ hIlcIfƒ #lFOƒ oIcEacy
pILj– I@ww– kL}M– •FVMt– O@wy– †~– %~„~w?ty[aLck– ‚~tILk– !k– /pcLk–
9IMQIcl_Mƒ U[[Ichƒ fQFOƒ l[ƒ D_z
MI_ƒ Q_ƒ IQ_Icƒ #lFOOD_HVl_M!ƒ
I@RLRMk–Ltc[LOLl–J[L–LtwyNk–9Ls‘nIMt~kRLk–JLt@tz–xy•th[wFV–J@ww–
HIcIƒ %Q_MIƒ
w[L–wLVt–wGVkLcc–‡~–[LcLk–lN~Mk–9Mtc@RwRt•kJ~lRLk–O•VtyLj–DLjŒ
wp– t@wFV– ‚~tILk– †?VctM[FXL– [thLj– [h– <‚[xGVLkD~GVV@kILc– RL‹
/H :%#0 ,(!+H & #H (!&H "#0H (0"5:!+H "66H <(5+,(!&H 0%68H
Qt•kILy– J[L–L[kL–a•kwyc[FVN– +?FVOt?RL–wFV~OMk– [MwL– kyƒ[Fac~kR–
&#556!&8H
O•VszL– J@w– rpck[wGVL– ~FY ~jI– :Mtc@Rw‚LwLk– [k– M[kL– y[LOL– $t[xL–
0Dƒ QFOƒ NVDlEIƒ HQIƒ3IlhIƒODEI_ƒ"_Mfhƒ0IHIcƒODhƒIQ_IƒD_HIcIƒ"_Mfhz
J[L– w[GV– •DMt– JMk– kO?kR– KLt– Mt– #@VsM– LtwytLGayL– ~jJ– j~t– e@kRŠ
fFOqIVVIƒ DEIcƒ oQIVIƒ 3IlhIƒ I[bLQ_HI_ƒ HDffƒ HQIƒ "_Mfhƒ Q[ƒ "lMI_y
w@h–•CMs‚~kJLk–‚LtJLj– bpkkyL–[L–sDM[y–JLw–
;?twFV?~–~kJ–
EVQFUƒ OD_HLIfhIcƒ qQcHƒ Q_ƒ l_fIcIcƒ +IfIVVfFODLhƒ -FOƒ [€FOhIƒ HDcDlLƒ
IMw– ~a@sLwz–pt[Lky[Mt|M–w[FV–k@y•tc[FV–@~GW–@k–JLk– )”Rc[FVaL[‹
_QFOhƒ_OIcƒ IQ_MIOI_ƒ
yLj–os–-sy– /oeLk–[xz–VL~yL–N[l–?~xRLwrtoGVLk–‚[GVy[RLs– &[†Lj†kLV‹
hLs– O•s– JL~zwGVL–•FVLt– kJ– 0~h‘k[Lk– V@y– [j– JLj– (Ly†zLj– "?UtMj–
LZjL– ?}FW– O•s– ‚Mxyc[GUM– *‘s`yM– [jyMtLww?jyL– &[yLt?y}sw†LjL– Lky‹
_My†y–joFV–L[lL–Rt~lJw‘y†c[FVL– ,M~os[Ljy[Lt}kQ–@j–‚Mwyc[FVLj–;[ty‹
57!')#0#1H )0H
{3QhIcDhlc5DFOcQFOhI_xƒ 5cƒ ƒ qqqVQhbca[HIƒ 6H 09#5;)#<H LOchIƒ "__IVQIƒ 1VahPIcƒ #635E!'74590#5(0H
ƒ[FaLez– J[L– [hhMt– hLVt– L@GVy~jR– OZjJLy– Mt– k‘GUwyL– 4FVsZyy–
wFV?Oyw ~jI– LwGV‘OzwhoJLccLk– 4FVoj– os– J[MwLs– <L[y– wzMceyL–
YcI_Iƒ :hDl_ha_ƒ BAQ[EDErICƒ (."H qqqbOahaFDfIHIƒ $abtcQMOhƒ DHƒ9QD_ƒ
‡~t– sƒM[yLs~kR– JLw– [jyLvk?y[pk@cMj– ,Ly†‚LsaMw– JLs– IL}ywFVLj–
I[L– !kyLtk?y[oj@cL– CyL[c~kR– JLs– t@jaO~tyMs– ~FVhMwwL– QspL–
$%)&-).
$%)&-).
[|;nh *;ssh N;w EScEcZ[EScEc7En[;JSc0EnzzcC Jnh‰E 9SE[E #n  N;w EnsS@N |SE[ |hnJEch``Ec
nsw`;[s sh[[Ec s@N};n€E 9;N[Ec
CEcZ[EScEc‚7En[;JEc0Enzs
 4EScE@NEnEns@NTEcEc=SsNEnSc
&#. #. :c;@O )z=nS@Zs $,$%.%#. PEn;zsZh`
JEs@NnSE=Ec}EnCEcz‰EnCE`};nCEn XzcJE0Enz;cEn ;[s %;sw CEs Sc[;CzcJsknhJn;``s`Sw EScE` 4w;cC;zICEn $n;cZIznwEn z@Nƒ
EScEn zI[;JE |hc XE}ES[s  ~Eak[;nEc &EzwE sScC czn ch@N
`Ec
`EssE|EnwnEwEc
 cwhcT; 4wh@Z -Sw;n=ETwEn CEn‡*SwEn;wzn.;@NnS@NwEc‚wn;ICEcENnJES€SJEc7En[EJEnSczs@h0Enz
€ENc 5SwE[ [SEIEn=;n *;ssh NhIIw CSE zI[;JE Sc CEc Zh``EcCEc
sh Ensw`;[s Sc 0Enz |EnŒIIEcw[S@Nw
[I ;zs CE` &h[[ŠcCSs@NEc =EnsEw€wE
n€‹N[zcJEc }EnCEc
swnzEcCh`zCh N;w ;z@N ES
(;NnEc ;zI XE}ES[s  ~E`k[;nE swESJEnc€z ZŒccEc z`sh |hn
cEc 0nESswn‹JEn S`0nhMn;a` E`c‹@Nsw Ens@NEScw .#+#)%$.
SE 4Swz;wShc Ssw s@N}SEnSJ sSE };n ;=En s@Nhcs@N[E@NwEnzcC
-;J;€Sc P;w EScE =E;@Nw[S@NE zI[;JE zcC nT@NwEw sS@N ;c -Ec†
;[[E`;z@NCTE0nhCzZwShcsZhswEc€zsEcZEc
. (. #+(. |hc [E~Ss ^k;nn;JzSnnE CEn  CEc 0nE`Sh .;@Sh…
s@NEcCSE‡cS@Nwzc=ECScJwCSE %E}hNcNESwN;=Ec€z[EsEc‚'cCEn
sEn /kwT`Ss`zs EScEs 7En[EJEns Tc ETcE` *;cC Sc CE` S` zn@Nƒ
c;[CE.;nn;wS|;CE[;;w[S@;|En[SENEc=EZ;`
Td sEScEn s`k;wNTs@NEc nw CSE +;JE CEn Z[EScEc 7En[;JE Sc 0Enz
CSEsX‹NnSJEczsJ;=E}EnCEcXzcJE 4@NnSIwswE[[En;zs J;c€*;wEScƒ
s@NcSww XECEn
0nhXEZwsScC )ScCEn=@NEn )hcZnEwJEk[;cwSswNSEnCSE9zs;``Ecƒ
€zs;``Ec ˆ=En sESc ESJEcEs XzcJEs 6cwEncEN`Ec s;Jw En ‡'c
;`EnSZ;khnwn;SwSEnw
6cCC;s7En[EJEc|hc@NEnc .zcC;Es
N;d@E sSENw *;ssh Sc CE` ‡0[;c *E@whn‚ CEc CSE kEnz;cTs@NE
;n=ESw `Tw CEn Ezws@N0Enz;cSs@NEc )z[wznJEsE[[s@N;Iw 3EJShc
CEc[Ew€wEc|SEn(;NnEcN;=Ec}SnZEScEc %E}SccEn€SE[w'` %EJEcƒ
Sc0EnzZEScE CSEs=E€J[S@NE zs=S[CzcJJE=E ESJcE`;csS@NC;s
3EJSEnzcJ S` [Ew€wEc (;Nn =Es@N[hssEc N;w En ‡*EsEk[;c‚ sSENw
'cZ; :603'Sc zs@j CSECE`c‹@NswETcEc )ScCEn=z@N}Eww=E…
}SnsScCJzwEnScJE‚shI;sswCEn X‹NnTJE[|;nh*;ssh\;€
8hNEnZh``wCSEƒ
Sc}hNcEn ESc N;[=Es z@N knh (;Nn [SEsw !ScE
Sc[;cJInSswSJEs
wES[ }Sn `zsswEc zcs |Ens@Nz[CEc SEsEs (;Nn `zss zcC sh[[ CSE
‡Ec[;@;[[E‚;zICEn4wn;‰E;c=EnEnn‹z`w;z@NESc ‡'@N`zss
|hn C;ss XECEs )ScC knh 4@Nz[X;Nn €ENc 3h`;cE [EsEc `zss SEƒ
}En=;zss@NnES=w
;s%E}SccEn=z@N}SnC;[s4kEcCE;c4@Nz[EcSc
8EcCE=nScJEc
 '@N=ScsENnhkwS`SswSs@N‚ ScXzcJEn-;cc`Sw|SE[
ch@N |SE[ `ENn [EncEc ,ESCEn sScC CSE -ŒJ[S@NZESwEc NSEn Sc 0Enz
sEs 9SE[ sES sENn Nh@N JEJnSIIEc }Ecc XECh@N ;z@N czn CSE &‹[IwE
CEn ;=JE[EJEcEc cCEfnEJShc|EnwES[w +;ssh Ssw C;|hc =En€EzJw
-zw cEnJSE6cwEncEN`EnJESsw )nE;wT|Sw‹wzcC*SE=E€zn*SwEn;wzn
sENn
sENn=Es@Nn‹dZw
=Es@Nn‹dZw EsN;[=SswEs In`S@N=EshcCEns }T@NwSJ ScwEnƒ
EnnES@Nw }nCE }‹nE EScEnsESws |SE[ In CSE S[CzcJ JE}hccEc zcC
C;ss ‡CEn EC;nI ;zI DEa kEnz;cSs@NEc z@N`;nZw c;@N JzwEc
s@NS@ZwsS@N;cCSE7En[;Js[;cCs@N;IwTc0Enz;zI€z`Ss@NEc

c;wShc;[E nI;NnzcJEc €z s;``E[c '@N };n s@Nhc ;zI CEc z@N…
;cCEnEnsESws EnJE=E sS@N c;wn[S@N ESc nSEsSJEn cEzEn z@N`;nZw
)ScCEn=@NEnc nSEsEcJrh‰ Ssw‚ zcC `Œ@NwE C;s 8EnZ Tc sEScE`
(z[S  N;w CEn XzcJE -;cc ;zs *S`; Sc sEScE` 7En[;J ‡ swnz„
`EssEcSc %z;C;[;X;n; :-E~SZhzcC 4;cwS;Jh :NS[E=En Ssw
InEzw sS@N CEn ;zIswnE=FcCE 7En[EJEn

7En[;J kz=[S€SEnEc
EcCh`zCh‚ :Sc Ew}; [;zw[hsEs %EwŒsE  @NEn |Fn[EJw SEsE
In `S@N ESc J;c€ =EshcCEnEs (;Nn CEcc S@N cEN`E ;` 7En[EJEn„
3EKSEnzcK cEzE %EsEw€E |En;=s@NSECEw CTE CSE swEzEn[S@NF F[;t…
NE=Ec sS@N |hn ;[[E` Czn@N ESc ;csknF@NEcCEs
4ESw
ns@NETczcJs=S[C
`Sw Z[;nE` EsSJc zcC JzwEn 2z;[Sw‹w |hc ;cCEnEc kEnz;cSs@NEc
Sc[;CzcJsknhJn;`` CEn #n;cZIznwEn z@N`EssE wES[ zcC }EnCE
;z@N S` 'cwEnc;wShc;[Ec 9Ecwnz` ;zI CE`0hCSz` sSw€Ec‚
8E[„
z‰EnCE` }znCEc|hc CEn
>En En NEJw ch@N `ENn ENnJES€SJE 0[‹cE
-UwsFUcF`7Fn[;L}V[[FpFUcFe‡Zz[xzoF[[FcoAZFesAQ[;L‚FonFS…
wzcJ =ES` @NEnZ;zI nECz€SEnEc sh[[Ec zcC C;n=En NTc;zs CEc
@NEc CN ;z@N =EnsEy€wE *SwEn;wzn |En[EJEc zcC sS@N C;In EScƒ
4w;;w |EnkI[S@NwEc EScE JE}SssE c€;N[ ;c @NEnc ;c€zZ;zIEc
sEw€EcC;ss|hcSN`|En_EJwE@NEnSc;cCEnE4kn;@NEc=EnsEw€w
0nhCzZwEc;= %[ET@N C;s EnswE z@N };n ESc |h[[En nIh[J (..
@NEc 0[;w€ cS``w ESc Z[EScEn XzcJEn 7En[;J Sc CEn kEnz;cSs@NEc
z`C;`Sw CSE S=[ShwNEZEc ;zs€zsw;wwEc SE 6`sEw€zcJ Tsw XECh@N
!( #. $)%$(.*#)$(.|hc*zSs &Enc<c;sw;WEC;};nc;@NZzn…
7En[;Js[;cCs@N;IwESc ENEnns@Nw}SnCCEnz@P`;nZwSc0Enz|hc
ch@N [‹cJsw cS@Nw |h[[€hJEc
€En 9ESw |EnJnSIIEc zcC }znCE |hc CEn )nSwSZ ;[s }S@NwSJswE kEnzƒ
CEcJnh‰Ecsk;cSs@NEc7En[;JEc}SE‡c;Jn;`;‚hCEn‡5zsmzEws‚

ZzcIw SE cEzE 5;s@NEc=z@NnESNE ‡;X;‚ sh[[ ;zsJE=;zw }EnCEc
*;sshs )zcsw=@NEn NEn;zs€zJE=Ec SEsE nw )zcsw |SszE[[ zcC
‡SEskSE[EcScEScEnESJEcEc*SJ;sSE=ENEnns@NEc0nh€EcwCEs
SE @NEn sScC N;cC[S@N kn;ZwSs@N zcC In CEc kEnz;cSs@NEc
Sc z@NIhn` C;n€zswE[[Ec JE=E Es =SsNEn Z;z` Sc 0Enz
C;s;zsJEnE@NcEw;[s *SwEn;wznswzCEcw *;ssh |En}ESsw;zICnES ]c…
kEnz;cSs@NEc z@N`;nZwEs‚ EnZ[‹nw *;ssh ;cc JS=w Es cE=Ec
z@N`;nZw cS@Nw zc}EsEcw[S@N knETsJcswSJEn ;[s CSE ;cCEnEc
7En[;J ‡ swnzEcCh`zCj‚ CEn =nSJEcs c;@N EScE` zsnzI ;zs
skTn;wShcsmzE[[Ec 5NEhnEwSs@NEs[EncwCEn*SwEn;wzn}SssEcs@N;Iws…
CE` lEnz;cSs@NEc 0ESs;7En[;J ch@N CSE ScwEnc;wShc;[Ec 7En[;LF
"CSwSicFe UsNFo FosANUFeFe Se CSFuFo 3FSNF #. '*#.
% .
swzCEcw ;c CEn ‡0hcwSIS@S; 6cS|EnsSC;C ;w[S@; CE[ 0En{‚ Sc *S`;
‡.hn`;‚‡[I;Jz;n;‚zcC‡0[;cEw;‚CSEESJEcEnhsSc+S`;zcƒ
ESc |SE[I‹[wSJEs 0;chn;`; XzcJEn kEnz;dSs@NE ,SwEn;wzn zcC CEn
=Ec;ccw Ssw `Œ@NwE En z EScE` ‡'cCSZ;whn JzwEn *SwEn;wzn‚ `;ƒ
/nJ;cSs;wShcsw;[EcwN;w En =ESCEn zn@NINnzcJzcwEns@NSEC[S@NEn
wEnN;[wEc Tc}ESwEnEn}T@NwSJEn $;ZwhnsScCCSE3;z=ZhkSEcCSE;c
n€‹N[=;cC "". *. `Sw %Es@NS@NwEc ;zs CEn 5hznSswEc…
@NEc Sck;ssEcCEs-hywhC;InN;=EcEnzcCsEScE#nEzcCE;z@N
;cSs@NE
cwCE@ZzcJ CEs (;NnEs  JE[h=w
8SE EnnES@Nw `;c
8;s sScC CSE 0[‹cE In CSE 9zƒ
Zz[wznE[[En 1nhXEZwE€CE`‡#EswS|;[CE0hEs\;‚Sc ,S`;=E}TE…
XECEn4wn;‰EcE@ZEInIcI=Ss€ENc4h[Es :ScEw}; =Ss znh
Nh@N=znJ zs@h

sEc
 6cC }Enw|h[[E
€zEnN;[wEcsScC
‡#nCSEJnh‰Ec7En[;JESswC;sEScE@NwEs0nh=[E`

E[IZŒkISJEc Nh[[‹cCSs@NEc zwhnEc‡-;ccs@N;Iw‚ `Sw CE` 5SwE[
nI;NnzcJEc In CSE 0n;~Ss s;``E[wE En =ES`
.h@N Sc CSEsE` (;Nn sh[[ CSE cwNh[hJSE ESdEn
7En[EJEc CEn *SwEn;wzn€ESws@NnSIw $*"$#*&)(. CSE |SEn zsJ;„
8Sn `;@NEc C;n=En =SsNEn ENEn 8Sw€E 8Ecc }Tn EScEs zcsEnEn
=EcEnnES@NwEsh}TE=ESCEn*SwEn;wzn€ESws@NnSIw %.$. $&&. CSEXEƒ
@NEn ;[s 3;z=ZhkSE EcwCE@ZEc `;@NEc }Sn EScE #[;s@NE 4EZw
*)$&#.
CFs (;NnS`(z[S€znz@N`EssETc*S`;Ens@NEScw;sZhswEc[hsE
;zI‚ s@N`zc€E[w *;ssh
 ‡ swnzEcCh`zCh‚ Ssw ‡CEn JnŒ‰wE zcwEn
hknSJNw [;;nh[Sc;
cwhcS; 4wh@Z
}EnCEc
 SsNEn JE=E Ev czn sENn }EcSJE kEnz;cSs@NE 3h`;c…
;zwhnEc CSE S` zs[;cD €z [EsEc sScC ;cE=Ec Ssw Es ESc 5n;z`
4EScEc
CFs ?FnŽNbwEe kFqz;cUs@RGg UBNwFqs Hs;n 7;[[EYh
s@NhcJEIzcCEc ‡-Sw CF` [S@ZScCEc &Sa`E[zcCCEc#‰Ec;zI
CEn nCE‚
&(##. #. ‡*SwEn;wzn.;@NnS@NwEc‚ .n  }}}[Swknh`CE &.
[ h`En@Sh }}}kNhwh@;sECE
(,":0%H
#$&$,&/
2585E8H
'"/
-MdbaKPMam+dKPRZN\`YGbR\ZajM[b`dYm +dUG`Mabm
ab`m AdL\`m*`OQMjRm m
AMWm 0Gh$m mm
7MRbdZO"m V\G[Gm 1`dMZgGWLm
!m +dUG`Mabmm
.YGRW"m_\abXIRj
IdUG`Mab\`Om
K\m 1\MbPM2ZabRbdcm +dUG`Mabm
?dYk[RMZm
gggmIdKPmYMaaMmLM
m ImRmj
IdmU Gm`Mma bm
-MdbaKPMam +eKPRZN\`YGbR\ZajM[b`dYm:\aUGdm
9MZRZaURTm=`\a^MUbm!Gm
AMWm 0Gh"m !
!mm!m
"+))5
(#H D(/ <#H 2/#0H 5(8#56@H 6(0"H (0H ,E0"-(!&#H #
(#8#H 5_QFOhƒ oIcUDlLhƒ
Qfhƒ IQ_ƒ MlhIfƒ
#lFOƒ IQ_ƒ qQFOhQMIfƒ AIlM_Qfƒ
?I__ƒ
*.1#&(/*
5,5$2*20,&3/5/.-!,5,(
5
'55%-55
9oj–IL}ywFULj–
9Lsc?QLj–
3QhIcDhlcƒMlhƒ MI_lMƒQfhƒ EIcVIEhƒfQIƒDlFOƒ -FOƒMVDlEIƒ [D_ƒUD__ƒ
%#%0%#0H :0"H & #0H 5:#0H #5/:8(%8H ?:H 6!&5#( #0H 0H 5:
5
€Ls`?}OyL–
4I_fFOI_ƒ HlcFOƒ 3QhIcDhmcUI__h_QffIƒ fIOcƒ EIIQ_HclFUI_ƒ l_Hƒ QFOƒ
#0352*#+8#0H <#5"#0H #"(!&8#H %#6!&5(#
#0H ŽCLswLy†}jQwcZ†Lj†Lj–
:0"H
#(H 5#$$#0H
8MRbdZO%m AGbSGZGm@RY]Zm
?B!m:\aUGdm
.:GRW%m aRY\ZXY\aUGdO\MbPM\`Om
K\m1\MbPM3ZabRbdbm
?eaaRaKQMm0lLM`GbR\Zm
gggJdKPYMaaMLMIRjY\aUGdm
;25%#85%#0H
5
MVDlEIƒ HQITI_QMI_ƒ
HQIƒ HQIfIfƒ ?QffI_ƒ Q_ƒ AQ[EDEqIƒ ODEI_ƒ qIc
-MdbaKPMam +eKPRZN\`YGbR\ZajMZb`dYm =MURZOm
,iIM`mA\gM`m +dRWLRZOm +m -m
AMW%m m m 0Gh&m m m
0Dƒ 8IcLac[D_FI3tcQUƒ Qfhƒ IQ_Iƒ bablVcIƒ 1l_fhLac[ƒ HQIƒ [Qhƒ acD
VIcƒ 3QhIcDhlcƒ ulfD[[I_O_Mhƒ [Qhƒ 8cIHQMI_ƒ l_Hƒ 3IOdI_ƒ :QFOIc
HI_ƒ fIOcƒ MIDFOhIhƒ m_fIcIƒ :FOcQLhfhIVVIcƒ 3IOcIcƒ 1cQhQUIcƒ "EIcƒ
5
l_HƒHDfƒQfhƒfIVhfD[ƒ IfƒIc[l_hIchƒD_fFOIQ_I_Hƒ_QFOhƒHDulƒ[IOcƒulƒ
VQJOƒ MQEhƒ Ifƒ IQ_QMIƒ fIOcƒ MlhIƒ 8IcLac[D_FI%QFOhIcƒ qQIƒ $OQcQUl
5
VIfI_ƒ l_Hƒ
hcahuHI[ƒ [€FOhIƒTIHIcƒ IQ_ƒ:FOcQLhfhIVVIcƒfIQ_ƒ
m
7MRbdZO#m -`m5R[Om +G`bjm :am
;\mm FP\ZOOdGZKdZm@\dbPm*fMZdMm
.
:GRW)mIG`bjXIRj
IMRTRZO]`Om
K\m 1\MbPM3ZabRbdbm >MURZOm
m +MRTRZOm ,PRZGm
gggmIdKPmYMaaMmLM
m ImRj
m _MUmRZmOm
-MdbaKQMam +eKPRZN\`YGbR\ZajMZb`dYmCG`aKPGdm
dWm ,PYRMWZGmGm
AMW#m m!m m 0Gh"m m!m m
7MRbdZO%m ;RZGm 6WMRZm
>9 mCG`aKPGdm
/:GRW"m_\abXIRj
gG`aKPGd\`Om
K\m 1\MbPM4ZabRbebm CG`aKPHdm
=\WMZm
45
5
gggJdKPYMaaMLMJRj
gG`aKQGdm
00H"#00H (8#58:5H #06!&#0H;#5E0"#50H +00H 6(#H 2,(8(+H ##(0
IffD_hƒfQ_Hƒ
:66#0H
#5H#6H 5(0%8H"(#H #:8#H0(!&8H?:/H #6#0H
.FOƒ MVDlEIƒ [D_FO[DVƒ fFOa_ƒ +lhIƒ 3QhIcDhlcƒ UD__ƒ
EIcƒ
IQ_I_ƒ
V_
5
HDfƒ#IqlffhfIQ_ƒLcƒ!,5
IQ_Iƒ :QFOhqIQfIƒ €LL_I_ƒ
?I__ƒ
MIcI_ƒ
5DFOƒ[IQ_Icƒ'cLDOcl_MƒDVfƒ=IcVIMIcQ_ƒ HQIƒDlFOƒ3tcQUƒOIcDlfEcQ_Mhƒ
qQcƒu #ƒIQ_ƒMlhƒl_HƒIQ_LOVfD[ƒMIfFOcQIEI_Ifƒ#lFOƒOhhI_ƒ Q_ƒHI[ƒ
1M`YG[m +\\Um <NNRKMm ;MgmD\`Um
m 0RNbPm*fMZdMm 0\d`bPm 0W\\`m
AMW'm !m mm 0Gh"m !m mm
9MRbdZO"m ?RUim@b\KUm :am
;MgmD\`Um ;Em m
/YGRW(m ab\KUXOI\\`Om
K\m 1]MbPM2ZabRbdbm ;MgmD\`Um
B@*m
gggOI\\`Om
dtMkL– 4y?~kzpk–[xy– :MteLRLs[j– [j– <[hD@D‚M– M[lLh– %?jJ– J?w– J~sGV– M[kL– z[LOM– ”apjoh[wGVL– ~kI– rpc[y[wFVL– $t[wM– RLVy– oty– QMCosLl– ~jI–
@~ORM‚@GVxLk– wy~J[LtyL–x[L–[k–toDt[y@jk[Mk–~kJ–?sDL[yLyL–L[k[RL– =L[y–[k– %okJoj– O•t– I@w– t~h–tyw–MlztL‰– ~jI–O•s– ILj– "oVk–@cILt–
:Ltc?R–+?GU–a~s†Lh–~OLkyU@cy–[k–oyw‚?j@–aLVszL–w[L– – [j–J[L– M[h?z–†}t•Ga–}kI–?sCLZzLyL–DL[– JLt– ky‚[Fac~jR–€oj– &LUtrc‘kMk–Zk–
%QIƒ HIlhfFOI_ƒ #lFOQ_Lac[DhQa_fuI_hcI_ƒ l_HƒHDfƒ +Ic[D_ƒ#aaUƒ 6LLQFIƒHIcƒ *cD_ULlchIcƒ #lFO[IffIƒ
JLt– ~ts[G}e}h–LMcorhLjy– 7k[y‰– h[y– – Rs•jILzL–w[L– h[y– JLh– x•J@Ot[`?k[wGVMj– ~yot– ~RV– &L‚[k– JMk–9Lsc?Q– ?oC?D–poaw–
+?FV– hLVt– ?cw– †LVj–"?VsLj–€Lsc[M–xZM– JMl–:Mtf@S–~lJ–St•lJM{M–h[{–[VtMh– VMh@kj– )~tt@…– )GAt{lM…–;MBMt– .tMww–llMc[M– $cp{VMt–
DhcVQFOƒ oIcHQI_I_ƒ =IcVDMIƒ Q_ƒ IcfhIcƒ 3Q_QIƒ HD[Qhƒ QOcƒ +IVHƒ HDffƒ
aHIcƒ \Q_HIcƒ Ua_hQ_lQIcVQFOƒ IcLaVMcIQFOƒ Q[ƒ "lfVD_HfMIfFOLhƒ
wrt?GV– h[z– dsLjM–4y?~jyol–•DLs– IZL–Q@j†–DLwolILsL–4Zy}@y[pj–M[jLs–9LscLRLt[k–[j– =[hD?C‚L–
fQIƒ HQIƒ #FOIcƒ QOcIcƒ "lhacI_ƒ DlLƒ HI[ƒ OIQ[QfFOI_ƒ 4DcUhƒ oIcz
EIhIQVQMI_ƒ 'Q_Iƒ I_hfFOIQHI_HIƒ 9aVVIƒ Lcƒ IcLaVMcIQFOIƒ 3QuI_uDEy
UDlLI_ƒ -[ƒ )DVVƒHIcƒHIlhfFOI_ƒ=IcVDMIƒfQ_HƒHQIfƒ_QFOhƒ_lcƒHIcƒ HIlhy
fFOVffIƒ [Qhƒ DlfV_HQfFOI_ƒ =IcVDMI_ƒ fbQIVI_ƒ #lFO[IffI_ƒ DVVI_ƒ
fFOIƒ fa_HIc_ƒ DlFOƒ HIcƒ fFOqIQuIcQfFOIƒ l_Hƒ HIcƒ €fhIccIQFOQfFOIƒ
""/ #&$/ .$/ (/ !)$/ %"/ .$/ *'/ &'$/
#lFO\DcUhƒ 5IEI_ƒ HI[ƒ,DlbhMIfFOLhƒ HI\ƒ IQMI_hVQFOI_ƒ #lFOz
/ '"'""/ %"/%&/$/ -"""//'"%/&)%/*'$/
oIcUDlLƒ MQEhƒ Ifƒ _aFOƒ IQ_Iƒ 9IQOIƒ qIQhIcIcƒ +IfFOLhfLIVHIcƒ DnLƒ HI[ƒ
&'&#"/ $/ $/ "/ !)/ %"/
#Q__I_[DcUhƒ HI_ƒ =IcUDlLƒ HIcƒ ;DfFOI_ElFOcIFOhIƒ HIcƒ ,€cElFOy
$"/ &'"&#"/ !k– I[LwLh– %@jJ– oD– †~– tVpJLx[wFVMj– <L[yLj– oJLt–
l_Hƒ '#aaU9IFOhIƒ HIcƒ =acDEHclFUcIFOhIƒ D_ƒ AIQhl_MI_ƒ l_Hƒ AIQh
VM~yL– V@y– Lx– L[RLkzc[GU– k[L– L[jL– L”caLs~kRwwFU[FVy– RLQLDLj–
fFOcQjhI_ƒ l_Hƒ HIcMVIQFOI_ƒ [IOcƒ 4Qhƒ HI[ƒ =IcUDlLƒ oa_ƒ *QV[cIFOhI_ƒ
J[L– tLRLch‘[R– •GULt– a?~Oy– )@j– h~ww– ~kzMtwFWL[ILk– †‚[xFUMk–
Lcƒ IQ_I_ƒ IcLaVMcIQFOI_ƒ 9a[D_ƒ Qfhƒ [IQfhƒ fFOa_ƒ _QFOhƒ [IOcƒ _lcƒ HIcƒ
L[kLh– $‘~OLt– ~kI– L[jLh– %LwLs– ;Lkk– h?j– _Lh?jILh– LZj– ~FU–
_DhQa_DVIƒ 4DdUhƒ D_MIfbcaFOI_ƒ OQIcƒ Ua_UlccQIcI_ƒ Q_ƒ HIcƒ 9IMIVƒ Q_
R[Cy– a?kj– h@j– O?wy– x[FVLt– xL[j– J@ww– Lt– Lw– @~GV– c[Lwy–ULj_Lt?[–
hIc_DhQa_DVƒ DMQIcI_HIƒ )QV[Ua_uIc_Iƒ l[ƒ HQIƒ 3QuI_uI_ƒ Lcƒ HQIƒ =Ic
oL–w?QyL–L[kh@c– ‚Lkj–_Lh?jI–Zk– ~tor?–L[k–~FV–a@~Oy– ‚ZtJ–Lw–
LQV[l_Mƒ HIfƒ 9a[D_fhaLLIfƒ "lffFOVQI~VQFOƒ DlLƒ HIcƒ 'EI_Iƒ Q_hIc
RLcMwLj– ~kJ– J?kj– aohhy– Lw– [jx– 0MR@c– ?DLs– [j– <[hC@C‚L– ‚ZsJ–
_DhQa_DVIcƒ =IcVDMfMIfFOLhIƒ EIqIMI_ƒ fQFOƒ HQIƒ "EfFOVffIƒ Q[ƒ
Mw– RMeLwLk– ~kI– Lsc[MULk– C[w– Lw– ?~wL[j?kILt– O‘ccy– oFU– 9LtŠ
#IcIQFOƒ HIcƒ |EIcfIhul_MfVQuI_uI_ƒ %Icƒ Q_hIc_DhQa_DVIƒ 4DcUhƒ HIcƒ
c@RL– w[kJ– oh– }FU€Lt`?}O– ?CU‘kQ[Q– wojwy– a”jjLk– x[L– kZFUy–
'Q_ l_Hƒ =IcUDlLƒ oa_ƒ |EIcfIhul_MfcIFOhI_ƒoa_ƒ=IcVDMI_ƒ DlfƒD_ƒHI
•DLtcMDLj– [L– †[hC?C‚[wGUL– $~cy}s– [wz– LVLs– QLwMcc[Q– ?Š
cI_ƒ 3_HIc_ƒ \Qhƒ D_HIcI_ƒ :bcDFOI_ƒ Qfhƒ Q_ƒ HI_ƒ VIhuhI_ƒ 0DOcuIO_hI_ƒ
h[c[M– [wy– ‚[FVy[R– ~jI– @}FV– I?ww– h@k– Ly‚@w– ‡~w@hhLk– ~jyLt‹
Q[[IcƒqQFOhQMIcƒLcƒHQIƒ=IcVDMIƒMIqacHI_ƒ,DhhI_ƒoacƒuqD_uQMƒ0DOy
k[hhz– 4[GV– †~s•Fa†[LVLk– ~lJ– L[j– ~GV– cLwMk– [wy– `L[jL– wLVs–
cI_ƒ oQIVIƒ =IcVDMIƒ _aFOƒ UIQ_Iƒ IQMI_fh_HQMIƒ 3QuI_uDEhIQVl_Mƒ faƒ Qfhƒ
RMxLcc[RM– jRMcLRLjVL[y– w– [wy– ‚[FVy[RLs– x[FV– I?t•DLt– @}x†~y@}Š
HQIfƒ OIlhIƒ EIQƒ =IcVDMI_ƒ DEƒ IQ_Icƒ MIqQffI_ƒ +c€~Iƒ IQ_Iƒ :IVEfhoIcy
wGVLk– ‚@x–M[kLh–‚[JLsO?VsLk–Zwy– ~kJ–j[GVy–xy[cc–O•s–wZGV–†~–cMwLj–
fh_HVQFOUIQhƒ %QIfIƒ '_hqQFUVl_Mƒ Vffhƒ fQFOƒ Mlhƒ D_ƒ HI_ƒ ADOVI_ƒ HIcƒ
~GV– [k– )[zyLcac@xwLO?h[c[Lj– O•s– I[L– •GVLt– LtwGVƒ[kQc[GV– w[kJ–
oa_ƒ HIlhfFOI_ƒ =IcVDMI_ƒ oIcUDlLhI_ƒ |EIcfIhul_MfVQuI_uI_ƒ _DFOz
>pIMt–‚?sLk
– ‚occMk– I[M– &L~yL– MVLs– ‡~x@hhLkx[y†Mj– ~jJ– OLskwL‹
oaWWvQIOI_ƒ BgQIOIƒ &QDMeD[\ƒ ƒ ƒ ?lcHI_ƒ Q[ƒ 0DOcƒ ƒ ul_FOfhƒ
VMk–?cx–x[GV–pk–JLj–@jILsMk–@D†}wpkJLtk–!k– @h[e[Lk–ILt–sDL[Œ
ƒ 3QuI_uI_ƒ Q_fƒ "lfVD_Hƒ oIcUDlLhƒ faƒ qDcI_ƒ Ifƒ "_LD_Mƒ HIcƒ Icƒ
zLtac@wwM– ‚‘tM– J@w– wo‚[Lxo– xLVs– xGV‚[Lt[R– ;[M– xocc– h@j– 0~VL–
0DOcIƒEIcIQhfƒEIcƒ ƒ "Eƒ ƒQfhƒIQ_IƒfhIhQMIƒAl_DO[Iƒ HIcƒ=Icz
O[kJLj– ‚Mkj– h?j– h[y– w[LD‡MVk– &L~yLk– [k– L[kLh– @~w– h[y– [Ls–
UDlLfuDOVI_ƒ ulƒ oIcuIQFO_I_ƒ HQIƒ HIcƒ #€cfI_oIcIQ_ƒ HIfƒ HIlhfFOI_ƒ
<[hhLtl– ‚oVkz– ;[GVy[R– [xz– J@xw– •GVLt– [hhLt– O•s– $[jJMt–
#lFOOD_HIVfƒ DlLMcl_Hƒ IQ_Icƒ LcIQqQVVQMI_ƒ TOcVQFOI_ƒ #ILcDMl_Mƒ Icy
O•t– I[L– 4GV~cM– RLa@~Oy– ‚LtJMk–4oR@t– 'MVsLt– V@DMj– ‚Mk[R– [j‹
[QhhIVhƒ l_Hƒ oIc€LLI_hVQFOhƒ B#lFOƒ l_Hƒ #lFOOD_HIVƒ Q_ƒ ADOVI_Cƒ %QIƒ
Oc~wx–@~O–J[M–~w‚@Vc–ILs– •GVLt– JLt–[sMaypt– pJLt–wL[k–4yLccLtŠ
DUhlIVVfhIƒ ADOVƒ EIuQIOhƒ fQFOƒ DlLƒ HDfƒ 0DOcƒ ƒ ƒ }EIcz
ztLyLs– wFV@OOMk– •FVMs– ?j– ~jJ– J?w– ~JRLy– [xy– CLRtLj‡y– w– R[Cy–
fIhul_MfVQuI_uI_ƒ Ua__hI_ƒ HIlhfFOIƒ =IcVDMIƒ Q_ƒ HQIfI[ƒ 0DOcƒ Q_fƒ
j[M– RLj~R– •FVMs– ?~Ls– [k– c[yL4FV~cLk– !h–wFVc[hhwyLj– ?cc–
"nfVD_Hƒ pKeUDnLK_ƒ 5QFOiƒ DVVIƒ >IdVDMIƒ bDdhQwQbQIdI_ƒ D_ƒ HQIfI]ƒ
cLtkMj– J[L– $[kJMt– h[y– L[kMh– ~GV– rto– $c?xwL– ~kJ– 8jzMts[FVyw‹
+IfFOLhƒMVIQFOIc[D~I_ƒ1VIQ_IcIƒ=IcVDMIƒODEI_ƒaLhƒ_QFOhƒHQIƒLQ_D_z
O@GV– 7jJ– J[MxLw– M[kL– ~GV– U@z– JLs– &LVtLs– !h– DLwyLj– @cc– R[Dy– Lw–
uQIVVI_ƒ l_Hƒ bIcfa_IVVI_ƒ 9IffalcFI_ƒ Lcƒ IQ_ƒ IcLaVMcIQFOIfƒ 3QuI_uy
†‚?k‡[R–•GVMt–O•s–ItL[[Q–4GV•cMt– ;Mkk–h@k–M[k–~GV–Lsc[Mty–
MIfFOLhƒ 'fƒLIOVI_ƒHQIƒ 1a_hDUhIƒulƒbahI_hQIVVI_ƒ +IfFOLhfbDch_Ic_ƒ
oIMt– DLwFV‘J[Ry– ‚[sJ– h?k– DLwys@Oy–)@j–a@kk–Mx–k[FVy– k@FV– @}‹
Q[ƒ "lfVD_Hƒ \Qhl_hIcƒ ODEI_ƒ fQIƒ DEIcƒ fFOVQFOhƒ DlFOƒ _QFOhƒ HDfƒ I_h
wL– hZykMVhLk– ~kI– w[FU– ?jL[RkLk–7jJ–4GV~cC•GVMt– w[kI– O•s– /t•Š
fbcIFOI_HIƒ "_MIEahƒ HDfƒ fQFOƒ DmLƒ HI[ƒ Q_hIc_DhQa_DVI_ƒ 4DcUhƒ Ic
O~kRMk– I@–;Mkk– h@k– I}sGVO‘ccy– V@z– J@w–~GV– MZkLk– [h–4z[GV– RLŠ
LaVMcIQFOƒ D_EQIhI_ƒ VQI~Iƒ -_ƒ %IlhfFOVD_Hƒ Qfhƒ Ifƒ IQ_Iƒ Q_ƒ IhqDƒ MVIQFOƒ
c?xwMj–@x– CMIL~yMy– I?xx– •GVMt– pOy– h[y– Lxys@O~jR– @wwo†[[Msy–
EVIQEI_HIƒ ADOVƒ oa_ƒ U_Dbbƒ ƒ =IcVDMI_ƒ HQIƒ fQFOƒ DUhQoƒ l_Hƒ [IOcƒ
‚MtIMk– ~MsILh–V@CLl–‚[t–M[kL– R@j‡L– &MVtLtRLjMt@z[oj– J[L–
oacD_ƒ _DhcVQFOƒ HQIƒ )cD_ULlchIcƒ #lFO[IffIƒ HQIƒ fQFOƒ ƒ Ic_Ilhƒ
wLcDLs– j[M– I[L– tL~ILk– ILx– %MwLjw– MtcLDz– oJMt– <~R?jQ– †~– M[jLt–
HlcFOƒƒ"lffhIVVIcƒDlfƒ ƒ3_HIc_ƒ\QhƒHIlhVQFOI[ƒ "EfhD_HƒDVfƒ
•GVMtL[– RLV@Dy– V@y– +~s– [cJ~kR– Lsh”Rc[FVy– wo†[@cLj– ~Owy[LS–
HQIƒ Mc€~hIƒ l_Hƒ Q_hIc_DhQa_DVfhIƒ #lFO[IffIƒ EIfhhQMhƒ ODhƒ :FOhy
~GV– ‚Mjj– _Ly†y– I[MwL– )”Rc[FVaL[y– [LcMk– j[FVz– hLVs– oOOLk– xyLVy–
ul_MfqIQfIƒ uqIQƒ %cQhhIVƒ DVVIcƒ =IcVDMfVQuI_uDEfFOVffIƒ qIcHI_ƒ DlLƒ
‚L[c– [LcL–w[GU– 4FV}cD[cI~jR– k[GVy– hLVt–eM[xyLj– `”jjLj– 5toy‡JLh–
#lFO[IffI_ƒ IQ_MILHIVhƒ l_Hƒ l_hIcfFOcQLhfcIQLƒ oIcOD_HIVhƒ %QIƒ
;Lt– ?th–[wy– `@kj–j~t–J~tGV–[cJ~jR–@~OxyL[RLj–4o– [wy– IMt–t~G`–
#lFO[IffI_ƒfQ_HƒLcƒHQIfIfƒ +IfFOLhƒHIfODVEƒfaƒqQFOhQMƒ qIQVƒoQIVIƒ
J[M– /t•O~kRMj– †~– wFV?OOLj– ~jJ– kZFUy– wr[LcMs[xFV– hZy– ILh– &LskLj–
1a_hDUhIƒ hcahuƒ '4DQVƒ l_Hƒ ._hIc_Ihƒ _DFOƒ rQIƒ oacƒ EIcƒ HDfƒ bIcf€_VQ
~h‡}QLULj– Qso– •FULs–V?CLj–l[GVyw–h[y– )•ZRQ?jQ–†~–y~j– w[M–
JOIƒ+IfbcFOƒqQcUl_MfhcFOhQMƒqIcHI_ƒ=QIVI_ƒ=IcVDMI_ƒQfhƒIfƒqQFO
w[kJ–†~h– %MtjMk–J?–
hQMƒ ulƒ qQffI_ƒ Q_ƒ qIVFOI[ƒ =IcVDMfl[LIVHƒ HDfƒ ?IcUƒ HIfƒ IQMI_I_ƒ
cIƒ $OQcQUlcIƒ HIffI_ƒ "lLhcQhhIƒ qQIƒ EIcODlbhƒ IQ_ƒ +ca~hIQVƒ fIQ_Icƒ
"cEIQhƒ flEhQVƒ cIQFOƒ D_ƒ "ffauQDhQa_I_ƒ l_Hƒ fFODlfbQIVIcQfFOƒ Q_hIc
MIfFOhuhI_ƒ "lhacfƒ Q[ƒ "lfVD_Hƒ oIcVIMhƒ rIcHI_ƒ qQcHƒ %QIƒ )cD_U
/ """/ 5 !&/ !/ $/ ($/ $%% / / /
LlchIcƒ#lFO[IffIƒDVfƒQ_hIc_DhQa_DVIcƒ#cD_FOI_hcILLƒLQ_HIhƒDEIcƒ_lcƒ
"//'"/ $/ ""/!&/($'""/
IQ_^DVƒ Q[ƒ 0DOcƒ fhDhhƒ %QIƒ -_hIc_DkQa_DVIƒ "EhIQVl_Mƒ HIcƒ )cD_ULlchIcƒ
[L–<[McM–€oj–;L@Lt–x[jJ–JLjMk–xLVs–‘Vkc[GV– JZL– ~RU– &M‚[j–~kJ–
#lFO[IffIƒ EQIhIhƒ HIlhfFOI_ƒ =IcVIMIc_ƒ l_Hƒ =IcVDMf[QhDcEIQhIc_ƒ
[FV– CL[– ?pD?D– ooaw– €LtOocRy– V@yyLl– LxokILtw– R~yL– &[yMt@z~t–
HDOIcƒ IQ_Iƒ UafhI_M_fhQMIƒ #IhIQVQMl_Mƒ D_ƒ Q_hIc_DhQa_DVI_ƒ #lFO
@~w– <[hD@D‚L– ‡~– €Lt”OOLlyc[FVLj– ?~GV– k[GVyO[ay[ok?cL– 5M„yL– h[{–
[IffI_ƒDlLƒHIcƒMD_uI_ƒ?IVhƒD_ƒ l[ƒfQFOƒOQIcƒaO_IƒMca~I_ƒ"lLqD_Hƒ
JLk– 4GU‚Lsr~jayLl– MwFV[FUzL– /pc[y[a– xo‡[ocoR[wFUL– 4z}J[Lk–
Q_ƒ IQ_I^ƒ bcaLIffQa_IVVI_ƒ <[LIVHƒ [Qhƒ fIQ_I[ƒ "_MIEahƒ bcfI_hQIcI_ƒ
~jJ– t@~LkyVMhLk– oswFV~jR– •CLt– <[hD@C‚L– aohhy– oOz– j[FVy–
ulƒ U€__I_ƒ "EIcƒ DlFOƒ HQIfIƒ 4IffI_ƒ fQ_Hƒ _DhcVQFOƒ Q_ƒ HIcƒ 9IMIVƒ
V[Mt– ?j–8kJ– ‚Ljj– J@kk– w[lI– J[M– •GVLs– xp– yM~Ls– J?wx– k[Lh@kI–
Ulcuƒ l_Hƒ Ifƒ MIVQ_Mhƒ HDOIcƒ _QFOhƒ Q[[Icƒ fQFOƒ Q_ƒ HQIfIcƒ UlcuI_ƒ AIQhƒ
w[M– DL†?VcLj– a?kk– ;[s– @tDL[zLk– LkR– h[y– [kyLsLww[LtyLk– 9Ltc?‹
IQ_I_ƒ }EIcEVQFUƒ ulƒ HI\ƒ TIqIQVQMI_ƒ 4DcUhƒ ulƒ oIcfFODLLI_ƒ <_Hƒ
QLj–‚[L–"?hLw–~tsL…–†~w@hhLj–~jJ–DLh•VLj–~jw– ”tJMs~lRw‹
OQIcƒ Ua[[I_ƒ HQIƒ HIlhfFOI_ƒ #lFOQ_Lac[DhQa_fuI_hcI_ƒ l_Hƒ
h[yyMc– †~– DMaohhLl– oJLt– 8jzMtxy•y†~kR– I~sFV– ILj– ~zps– ~h–
HDfƒ +Ic[D_ƒ#aaUƒ 6LLQFIƒ Q_fƒ :bQIVƒ :QIƒEQIhI_ƒHIlhfFOI_ƒ=Icy
•FVLt– J[L– xFVok– [h– ~wc@jI– Lt”OOMkzc[GVy–‚ptILk– w[jJ– ‡~s•Ga–
VDMI_ƒfIQhƒ 0DOcI_ƒ QOcIƒ %QI_fhVIQfhl_MI_ƒD_ƒ%QIƒL_Lƒ "lfVD_HfEcafƒ
[kx– %?kJ–Ct[kRMj–‡~–`”kkLk–
HIcƒ )cD_ULlchIcƒ #lFO[IffIƒDcEIQhI_ƒDVfƒ_a_LacbcaLQh'Q_cQFOhl_y
MI_ƒ Q_ƒ ?DcfFODmƒ #lUDcIfhƒ 4afUDlƒ l_Hƒ 8IUQ_Mƒ l_Hƒ HDfƒ +#6ƒ Q_ƒ
"/$/ $"%"/ '&'$/ &/%/#/"/$&#"/%/ $*,+
5Iqƒ @acUƒ "lLMDEIƒ HQIfIcƒ #cafƒ Qfhƒ Ifƒ ?IcEl_Mƒ Lcƒ HQIƒ HIlhfFOIƒ
"%/
#lFObcaHlUhQa_ƒ DlLƒHI_ƒTIqIQVQMI_ƒ 4cUhI_ƒoacƒ6chƒulƒ[DFOI_ƒl_Hƒ
@w–‚[sJ–VM~yL–pOy– soh?kyZx[Lsy– 4[GVMtc[GV– ?h– L~Mt–‚~tJMj– yt?‹
fQFOƒ Lcƒ HQIƒ =IcEcIQhl_Mƒ HIlhfFOIcƒ 3QhIcDhlcƒ ulƒ I_MDMQIcI_ƒ 7QIƒ
I[y[ojwRLh‘– LwGV[FUzLk– Ls‡‘Vcz– ~kI– J[M– ot@cM– &ZzMt?y}s– ‚@s– L[j–
*dD_ULndiIeƒ #nFO\IffIƒ EIhcIQEhƒ HQIfIƒ #eafƒ ]Qiƒ <_iIegi‚ivl_Mƒ
ƒZGVyZSLt– 5L[c– ILs– ys@I[y[pkLccMl– MhM[lxHV@P{– @DMt– VM~{M– cMDMl–
HlcFOƒl_HƒQ_ƒ 8Dch_IcfFODLhƒ[QhƒHI[ƒ"lfqchQMI_ƒ"\hƒ %QIƒ#cafƒ
wLVt– [McM– $[kJLt– ?cw– ‡‚M[yM– Jt[yyL– LjMt@y[ok– [k– JLk– wz‘Jy[wFVLj–
DcEIQhI_ƒ_QFOhƒ DVfƒ"MI_hlcI_ƒQ[ƒEVQFOI_ƒ :Q__Iƒ fa_HIc_ƒ oIcfhIOI_ƒ
?cc~kRxQLC[MyMk– [M– cyMsk– RLVMj– hosRLkw–~h–€[Mt– 8Vs– ‡~t– t‹
fQFOƒ DVfƒ "_VDlLfhIVVIƒ Lcƒ DVVIƒ )cDMI_ƒ HQIƒ HI_ƒ EQVDhIcDVI_ƒ "lfhDlfFOƒ
CM[y– ~kJ– aohhLk– k?GV– [kDt~GW– JLt– ~laLcVL[y– †~s•Fa– @VMt–
urQfFOI_ƒHI_ƒ#lFO\cUhI_ƒEIhcILLI_ƒ4QhƒQOcIcƒ 'sbIchQfIƒumƒHI_ƒTI
Qc@~CL– [GV– k[FVz– J@ww– Lw– VM~yL– kpGV– [LcM– ?h[c[Lk– R[Cy– [k– JLkLk–
qIQVQMI_ƒ 4cUhI_ƒ fQ_Hƒ fQIƒ D_IcUD__hIƒ 1a_hDUhfhIVVI_ƒ Lcƒ *cDMI_ƒ
I[L– $[kJLt– ?~P– h•jJc[GVLh– ;MRL– Ly‚@w– pk– [VsLl– 5t@J[z[okLk– Mt‹
_DFOƒ [€MVQFOI_ƒ +IfFOLhfbDch_Ic_ƒ ulƒ %QfhcQElhQa_f[€MVQFPUIQhI_ƒ
O@VtLj– oJLt– R?t– ;L[xVM[y– h[ySMzL[cy– DLaphhLk– w– ‚‘tL– xGV”k–
)cDMI_ƒ HIfƒ 's l_Hƒ -[bachfƒ l_Hƒ DVVI_ƒ #IcIQFOI_ƒ HIfƒ #lFO l_Hƒ
‚Mkk–[GV–I?x–O@cxFV–w‘VL–
qcHIƒ QFOƒ fDMI_ƒ IQ_Icƒ oa_ƒ uIO_ƒ 4I_fFOI_ƒ Q_ƒ AQ[EDEqIƒ fFOcIQEhƒ
HQIƒ ,IVHQ_ƒ IQ_Iƒ VIfEQfFOIƒ uQ[EDEqQfFOIƒ *cDlƒ qcIƒ U€__hIƒ Ifƒ HDfƒ
+IHQFOhIƒ DEIcƒ _lcƒ IQ_Icƒ l_hIcƒ IQ_Icƒ 4QVVQa_ƒ UDlLhƒ fQFOƒ IQ_I_ƒ +Iy
#QVHƒ oa_ƒ ,a[afIslDVQhhƒ EIQƒ IQ_QMI_ƒ 4I_fFOI_ƒ oIc_HIc_ƒ %Dfƒ
#mFOƒqcHIƒHQIƒ 4I_fFOI_ƒoQIXVIQFOhƒ_QFOhƒ_HIc_ƒ DEIcƒIQ_ƒD_HIcIfƒ
HQFOhED_Hƒ
=Icfh_H_Qfƒ L€cHIc_ƒ
'fƒ O_Mhƒ DEIcƒ DlFOƒ HDoa_ƒ DEƒ qQIƒ [D_ƒ MIy
0"H (#H;#5+:$#0H8528?"#/H G!&#5H
VIc_hƒODhƒ 3QhIcDhlcƒ ulƒVIfI_ƒ |EVQFOIcqIQfIƒ qDcƒ 3QhIcDhlcƒ IQ_ƒ 4QhhIVƒ
#IQƒ #DaEDEƒ oIcUDlLhI_ƒ qQcƒ Q\ƒ %lcFOfFO_Qhhƒ ƒ 'sI[bVDcIƒ IQ_Ifƒ
HQIƒ ?QcUVQFOUIQhƒ ulƒ IcUVcI_ƒ /FOƒ qlcHIƒ [Qhƒ HQIfI_ƒ oQUhacQD_QfFOI_ƒ
9a\D`fƒ Q\ƒ0DOeƒ%DfƒqDeƒ `QFOiƒfFOVIFOiƒ .]ƒ"nMI_EVQFUƒfIiwI_ƒqQdƒ
2Q_HIeMIgGOQGOiI_ƒIevaMI_ƒ +lhIƒUVIQ_Iƒ4HFOI_ƒoIcOQIVhI_ƒfQFOƒfaƒ
DEIcƒ _lcƒ ƒ aHIcƒ qI_QMIcƒ 'sI[bVDcIƒ oa_ƒ IQ_I[ƒ 9a[D_ƒ Q[ƒ 0DOcƒ
9Lsc@Qw‚LwLkw–9Msc@RwV‘~xMt– ‚LjILk– w[FV– ?k– J[L– !<-– ‚Mjk–
DEƒ <_MILOcƒ ƒ Q_ƒ AQ[EDEqIƒ l_Hƒ ƒ EQfƒ ƒ Q[ƒ "lfVD_Hƒ 6O_Iƒ
Mw– I?t~h– QLVy– ILj– t[FVy[QMk– CLswLz†Lt– O•s– M[k– ;Lt`– †~– O[kJLj–
AlfFOffIƒ U€__hI_ƒ qQcƒ qDOcfFOIQ_VQFOƒ _QFOhƒ EIcVIEI_ƒ -[ƒ 4az
oILs– /spCcLhL– DL[– JLt– 9Mtyt?Rw?Cƒ[F`c~jR– ?~OytLzMk– Ls– :otyLZc–
[I_hƒ qQcHƒ HDfƒ 3QhIcDhlcbcaMcD[[ƒ oa_ƒ B,l[D_Qfhƒ /_fhQhmhIƒ
ILs– ~wc?kIwC•tpx– e[LQy– @~O– ILs– @jI– w[L– ?Q[LsLk– R?j†_‘Vs[R– ?~O–
Lacƒ $aabIcDhQa_ƒqQhOƒ%IoIVabQ_Mƒ $al_hcQIfZƒ IQ_Icƒ_QIHIcV_HQfFOI_ƒ
[UtLh– _LƒL[c[RLj– )?tay– w[jI– J?h[y– j?VL– ?k– ILk– _L‚LZc[RLk– 5tMjIw–
B5a_+aoIc_[I_h6cMD_QfDhQa_ ƒ "_\IcUl_Mƒ HIcƒ 9IHDUhQa_ƒ
~jJ– jzƒZF`c~kQLk– ps– -ty– aLjjLj– I[L– `~cy}sLccMj– 9osc[LCLj– ILs–
l_hIcfhhuhƒ .FOƒ qIQ~ƒ _QFOhƒ rDfƒ bDffQIchƒ qI__ƒ HQIfIƒ *€cHIcl_Mƒ
%LwLtwFU?Oy– ~kJ– J[L– LrOcoRLkVL[yLj– [h– MwGV‘OywcMDLk– `y~LccL–
I_HIhƒ
!jOosh?y[okLj– †~– h”Rc[FVMj– kwrsMFUr?tyjLsk– w[jJ– [jwDLwokJMsL–
l_HƒE€fIƒfaƒ%QIƒIlcabQfFOIƒ 3QhIcDhlcƒ ODhƒfQFOƒHDƒqIQhIcI_hqQFUIVhƒ
~FVaoccLay[ojLk–JL~ywFWMt–9Lte@QL– †~w?hhLk–
[k–?~wQL‚‘Vc
oa[ƒ :hclqqIVbIhIcƒ umƒ 8QbbQƒ 3D_Mfhcl[bLƒ -_ƒ HI_ƒ [IQfhI_ƒ 1lVhlz
yLk– &‘kJLsk– @j– ‚LFVwLclJLj– -tzLj– •DLs– L[kLk– e‘jRLsMj– <LZyt?~h–
cI_ƒ qlcHI_ƒ 4cFOI_ƒ Lcƒ bHDMaMQfFOIƒ AqIFUIƒ MI_lhuhƒ TIƒ EIffIcƒ
TL†L[Ry– ‚~tJLj– [MwL– $pccM`z[okLk– ‚~sJLk– D@cJ– †~– L[jLh– wz?t`–
qDcƒ HDfƒ -FOƒ
fQIƒ MIfFOcQIEI_ƒ qDcI_ƒ HIfhaƒ qI_QMIcƒ
k@GVRLOs?RyLj– 4GU@}OLlxzMt– JL~ywGVMs– ~jJ– ‚Mwzc[GVMs– ~GV‹
MVDlEIƒQ[[Icƒ _aFOƒ HDffƒoQIVIƒ 4I_fFOI_ƒOQIcƒ 3QhIcDhlcƒ [QhƒHIcƒ'cz
a}cz}t– [L– !JLM– †~– L[jLt– rLsh@jLkzLj– ~GV@~wwyLcc~jQ– [l– )owŠ
qDchl_Mƒ VIfI_ƒ IQ_Iƒ 3IUhQa_ƒ ulƒ EIUa[[I_ƒ l_Hƒ _QFOhƒ "[EQoDVI_uƒ
`?~– c?Q– ?cwo– wp†~w?RLk– [k– ILt– &~Oz– ?cw– /LyLs– ;L[JV??w– JLt–
-_ƒ fQFOIcƒ ƒ 8cauI_hƒ HIcƒ 4D_lfUcQbhIƒ HQIƒ [D_ƒ l_fƒ l_DlLMILacHIchƒ
I@h?c[QL– [tMayos– ILs– s@jaO~tzLs– ~GVhLwwL– J?h[y– CLR?jk– w[L–
ulfFOQFUhƒ qQcHƒ MIbcIHQMhƒ l_Hƒ _ac\DVIcqIQfIƒ MQEhƒ Ifƒ HDƒ HQIƒ MlhI_ƒ
[j– J[L– 5@y– ~h‡~wMy†Mk– @x– )owa?~– ƒ~tIL– h[y– 4[y‡– [h–pLyVMŠ
4I_fFOI_ƒ BaLhƒ 4__IcCƒ l_Hƒ HQIƒ E€fI_ƒ BaLhƒ )cDlI_Cƒ faqQIƒ HQIƒ MD_uƒ
!jwy[y~y– QLQt•jJMy– ~jI– †L]Rz– C[w– VL~zL– ƒLFVwLckJL– ~FV`occLaz[o‹
fFOcIFUVQFOI_ƒ4I_fFOI_ƒ B%QIEIƒ 4€cHIcƒ l_Hƒ UacclbhIƒ 8aVQhQUIcCƒ
jMk– ‡~– LtwFV[LJLkLj– 6 VMhLk– [L– ~OQ@CLj– V@DMk– w[FV– h[z– JLt–
I?jj– ƒZFUy[Q– ‚Mjk– I[L– /Lswok?cOc~ay~@y[ok– Zj– JMj– 9Lsc?RLj– Qso–
8(//8H#6H"#00H "66H #6H+#(0#H (88#,6!&(!&8H/#&5H%( 8H
Zwy– ZL– O•VtLj– ?}GV– €os– -sz– )@taysMGVLsFVLj– †}– M[k‡Lc‹
5IQ_ƒ HQIƒ 4QhhIVUVDffIƒ Qfhƒ _QFOhƒ MD_uƒ oIcfFOql_HI_ƒ HQIƒ \IQfhI_ƒ
jLj– 5L[ch‘tayMk– I~tGV– ,@y•sc[FU– `”kkLk– j[GVy– @ccL– [LjwzcM[wŠ
3IlhIƒ HQIfIcƒ :FOQFOhƒ ODEI_ƒ _lcƒ Q[[Icƒ Mc€~IcIƒ rQchfFODLhVQFOIƒ
y~kQLj– aowyLlOsL[– J~tGVRLO•Vsy– ‚MtILj– [jwCLwpkJLtL– J?kk– k[FVy–
8caEVI[Iƒ <_Hƒ fQIƒ Qfhƒ UVIQ_Icƒ MIqacHI_ƒ =QIVIƒ Mlhƒ "lfMIEQVHIhIƒ
‚Ljj– I[M– _LƒL[c[RLk– t?RLwyLcc~jQLj– xMUs– wrL‡[Lcc– ~jI– @~Oƒ‘kI[Q–
fQ_HƒLachMIMD_MI_ƒ%QIƒ1VDffIƒHIcƒ6EIcfFOQFOhƒ HQIƒl_oacfhIVVEDcI_ƒ
sLFVLtFVZLty–ƒMtILk–h•wwLj–4o–V?y–I?w– /La[kR–[h–cLy†yMk–"?Vt–
9IQFOhl[ƒ EIfQhuhƒ Qfhƒ fIOcƒ oQIVƒ Mc€~Icƒ MIqacHI_ƒ <_Hƒ HQIƒ ADOVƒ HIcƒ
L[kL– 4y~J[L– †~h– $[kJMs ~kJ– "~RLjJD}GVh?tay– [k– V[l?– LswzLccy–
IshcI[ƒ"c[I_ƒQfhƒl_Ic[IffVQFOƒMIqDFOfI_ƒ
?w– ;?twFV@~– C[MzLy– R?k†– @ay}Lcc– L[jL– 7lyMsw~FV}jR– †~t– 4yLcŠ
c~kQ– ILw– IM~ywFVwrs?GV[RLj– ~FVMw– [j– /ocMj– ?k– I[L– w[GV– [l– LswyLs–
(#H /#(68#0H #:8#H +F00#0H 6(!&H ,62H +#(0#H G!&#5H ,#)68#0H :0"H "(#H
&[j[L– ?k– [wyt[D~yptLl– ‚LkIMy– :ok– MjzwFVL[JLjJLh– 9otyL[e– O•s–
#6H+F00#0H 6(0"H0(!&8H(08#5#66(#58H
IL~ywGVL– 9Ltc?Rwh[y@tDL[yLs– [wy– J[L– 6?yw@GVL– J?ww– w[GV– J[L– &M[yLŠ
-FOƒ MVDlEIƒ HQIƒ 4IOcuDOVƒ HIcƒ 3IlhIƒ HQIƒ fQFOƒ #FOIdƒ UDlLI_ƒ U€__z
s[jkLj–ILs–•sow– j[GVy– j~t– @~O– JLh– )@taz– €ps– -ty– @~waMkjMj– wok‹
hI_ƒ ODhƒ UIQ_ƒ -_hIcIffIƒ 4Qhƒ +IVHƒ UDmLhƒ [D_ƒ DVVIfƒ 4€MVQFOIƒ :hDhlf
JLtj– wLcDwzLtxz‘kJc[GV– @~GV– @~wRL†LZFUlLyM– $LkkLs[kjLk– JLt–
aETIUhIƒ DEIcƒ UIQ_Iƒ#FOIcƒ
IM~ywFVLj– &[yLt@y~t ~kI– 9Msc@Qw†LjL– w[kJ– [Lw– MtM[jO?FVy– J[L–
)”Rc[FVaM[yLk– O•t– M[lMl– t•HaMlxGVc@R– [l– J[M– :Mtc@SxDt@lGVM– JMw–
(8H#(0#/H :!&H+00H/0H0(#/0"#0H ##(0"5:!+#0H
_LƒL[cZRLj– &?jJMw– ZL– tOpcRwRLwFV[FVyL– ILt– DLR[kky– –
?I__ƒ :QIƒ HQIƒ 3QhIcDhlcƒ EIhcDFOhI_ƒ HQIƒ qQcƒ EIQƒ #DaEDEƒ #aaUfƒ ul[ƒ
h[z– JMt– t”OOj~jR– JLw– M~ywFVLj– }GV[jOpth?z[ojw†Llys~hw–
1cQIMƒ OIcDlfMIEcDFOhƒ ODEI_ƒ qQIƒ u#ƒ 02!&#0H l_Hƒ !&88#0A
)owa@}– 9oh– $occ@rw– JLw– roc[z[wGVMj– 4…wyLhw– ‚?t– j@y•tc[FV– I[L–
,(!&8H oa_ƒ $OI_TIcDQƒ ,aoIƒ <06H oa_ƒ $ODcVIfƒ :D[lbQ_HQƒ !&2(0%H
RLw?hyL– s}ww[wGVL– ;[tzxGV@Oy– DLysoOOLk–Lh– ~GV ~kJ– 9Mtc@RwŠ
6(,#0!#6H l_Hƒ $$258,#66H 8#56H oa_ƒ "VIsD_HIcƒ 1D_I_Ma_Qƒ :#B
‚MwLj– `ohhy– [j– ?~ypt[y‘tLk– 0LS[hLk– [hhLt– L[kL– DLwpkJLtM–
5(,,H 60:$$H oa_ƒ 4DLlcD_l_uQƒ +l[Eaƒ (8&2:8H H 0/#H oa_ƒ @ oa_z
LJM~y}jR– †~– ƒL[c– Lw– @cw– 5L[c– JLw– /tpr?R@jI@@rr@s?yMw– L[kM– DM‹
_Iƒ =IcDƒ '(8#H /0H -!+H <5H oa_ƒ #clFIƒ 4aacI1Q_Mƒ l_Hƒ 0C
wokILsL– +‘VL– ‡~t– roc[z[wGVLk– •Ut}kR– U?z–~tGV– J[L– ys@J[y[okLec–
">H oa_ƒ "_Mlfƒ :ODqƒ faƒ EahI_ƒ HQIfIƒ #FOIcƒ IQ_Iƒ LDFIhhI_cIQFOIƒ
S~{Mj– M‡[MV~lRMl– ˆ~t– 1– DMw{AlJ– [l– 2~wwc@mJ– •EMu– e@kRL– <M[z–
:QFOhƒ DlLƒ HI_ƒ #ILcIQl_MfUcQIMƒ (fƒ Qfhƒ l_MIOIlIcƒ qQFOhQMƒ Lcƒ IQ_Iƒ
L[j– sLQLw–!jyLtLwwL–@k– JL}yxFVLt– $~cz~t
– J@w– ~@–•DLt– I[L– LtJLt‹
+IfIVVfFODLhƒ AlMD_Mƒ ulƒ 3QhIcDhlcƒ ulƒ ODEI_ƒ ?I__ƒ _QI[D_Hƒ HQIz
gjwy[y~yL– DLJ[Lky– ƒ~sJL– [M– roc[y[wFWLj– :Ms‘lJLs~kRLk– Lky†pRLk–
fIƒ 3QhIcDhlcƒ oIc€LLI_hVQFOhƒ MIOhƒ fQIƒ oIcVacI_ƒ :IVEfhƒ qI__ƒ Ifƒ fQFOƒ
M[jLt– osywLy†~lR– J[MwMt– tDL[z– _LJoFV– _LJMk–pJMk–?w–!jyLtLwwL–
@j– JL~ywGVLt– '[zMs@y~s– Cc[MD– ?CMt– ‚M[yMsV[j– CLwyMVMl–
[j‡~– a@h–
jy‚[Gac~jQ– JLw–t~ww[wFVNk– ?CMt–?}GV–ILw– JM~zwFVLk– ~FVh?t`yw–
(#6#H#=8#H;#5F$$#08,(!'#0H(#H0(!&8H
Oosyc?~OMkI– Lt‘kJMsy– !n–JMk– DL[JLk– pcRL_?VtLk– k@GV–ILh– 4y?sy–
5IQ_ƒ :FOVIFOhƒ +IfFOcQIEI_Ifƒ LVDFOIƒ $ODcDUhIcIƒ l_Hƒ IQ_Iƒ EIVIO
ILw– )pwa@~–‚~sJLj–J[M– [k–;?twGV@~–~kJ–[k–~a?sLwy–Lt”OOŠ
cI_HIƒ 'cuOVODVhl_MƒMIO€cI_ƒ aLhƒ ulfD[[I_ƒ
lLy–~FU– V[Mt– V?yyL– h@j– Nw– hZy– }GVh‘tayLj– [h– 7hCt~FW– †~– z~j–
!k–DL[JLk– %‘jJLtk–wr[Mcy–J]M–IL~yxFVL–4rs@GVM–aL[kM–~kCLJL~zLkIL–
0occL–
0"#58H "(#H "#5?#(8(%#H 32,(8(6!&#H (8:8(20H #8<6H $G5H (#H 5%# #0H
[j– /ocLk– @~ORs~kJ–JMt– ,‘VL– ‡~– L~ywFVc?kJ–~kJ– [j–~a@tLxy–
6(!'H 52 ,#/#H $G5H (#H ,6H #5,#%#5(0H (#H 5#%(#58H "(#H #%(#5:0%H
I~sGU– J[L– JL~zwFUwrs?GV[RL– )[jJMtUL[y–[j–4[LDLkD•tRMk– ~FV– V[Ls–
:$H G!&#5H<(#H D5(8(0%H68(,-@H 2"#5H%( 8H #6H +#(0#H #+8(20#0H
ƒ~tIMk– J[M– ƒLFUwLcjJMj– ~FU`pccLay[ojMk– h[z– SspLh– !jyLsLwwL–
?Qcƒ ODEI_ƒ UIQ_Iƒ 8caEVI\Iƒl_Hƒ ODhhI_ƒ _QIƒ qIVFOIƒ ?Qcƒ ODEI_ƒ UVIQ
€pk– L[jLt– 9[Lc†?Vc– €oj– )NjwGVLk– €ok– 9Ltc?Rwh[z@tCL[yLtj– ?DLs–
_Iƒ "lLVDMI_ƒ _QI[DVfƒ [IOcƒDVfƒ ƒ 'sI[bVDcIƒ %DfƒQfhƒEIcODlbhƒ
?~FU– €ok– ?ccRLhM[k– !jyLsNwwZLtzLk– ELw~FVy– L[JM– ~FVh‘sayL–
_QFOhƒ oa_ƒ #IHImhl_Mƒ Q_ƒ IQ_I[ƒ 3D_Hƒ oa_ƒ uIO_ƒ 4QVVQa_I_ƒ 4I_fFOI_ƒ
ILs– rock[wGVL– ‚[L– JLs– t~h‘j[wFVM– V@zyLj– L[kL– rc@j‚[tywFV?Oyc[FVL–
DlFOƒ qI__ƒ HQIƒ ,VLhIƒ HDoa_ƒ 1Q_HIcƒ fQ_Hƒ ?I__ƒ
IQ_ƒ l[fhcQhhIy
9LsR?jQLjUM[y– V@yzLj– ?CNt– CL[– JLs– 7hwyLcc~jR– [WsLs– )‘sayL– wLVt–
_Ifƒ baVQhQfFOIfƒ 8D[bOVIhƒ Q_ƒ IQ_Icƒ IQ_OIQ[QfFOI_ƒ :bcDFOIƒ Q_ƒ IQ_Icƒ
MtwGV^MJMlM– .tqDcMhM– ˆ~– DMƒ’c{[RMl– [M– ;[t{wGVAP{– [l– 2~i“l[Mk–
Ol_HIchhDlfI_HIcƒ "lLVDMIƒ OIcDlfEcQ_MI_ƒ qcHIƒ HD__ƒ qcHIƒ HQIƒ
c?R– k@FV– JMj– "?VsMk– ILs– 3LR[Lt~jR– J~sFV– L@~FwMwG~– IMs?tz– @h–
9IMQIcl_Mƒ fQFOƒ HD[Qhƒ EIfFOLhQMI_ƒ"EIcƒ IQ_ƒ hIlcIfƒ #lFOƒ oIcEacy
pILj– I@ww– kL}M– •FVMt– O@wy– †~– %~„~w?ty[aLck– ‚~tILk– !k– /pcLk–
9IMQIcl_Mƒ U[[Ichƒ fQFOƒ l[ƒ D_z
MI_ƒ Q_ƒ IQ_Icƒ #lFOOD_HVl_M!ƒ
I@RLRMk–Ltc[LOLl–J[L–LtwyNk–9Ls‘nIMt~kRLk–JLt@tz–xy•th[wFV–J@ww–
HIcIƒ %Q_MIƒ
w[L–wLVt–wGVkLcc–‡~–[LcLk–lN~Mk–9Mtc@RwRt•kJ~lRLk–O•VtyLj–DLjŒ
wp– t@wFV– ‚~tILk– †?VctM[FXL– [thLj– [h– <‚[xGVLkD~GVV@kILc– RL‹
/H :%#0 ,(!+H & #H (!&H "#0H (0"5:!+H "66H <(5+,(!&H 0%68H
Qt•kILy– J[L–L[kL–a•kwyc[FVN– +?FVOt?RL–wFV~OMk– [MwL– kyƒ[Fac~kR–
&#556!&8H
O•VszL– J@w– rpck[wGVL– ~FY ~jI– :Mtc@Rw‚LwLk– [k– M[kL– y[LOL– $t[xL–
0Dƒ QFOƒ NVDlEIƒ HQIƒ3IlhIƒODEI_ƒ"_Mfhƒ0IHIcƒODhƒIQ_IƒD_HIcIƒ"_Mfhz
J[L– w[GV– •DMt– JMk– kO?kR– KLt– Mt– #@VsM– LtwytLGayL– ~jJ– j~t– e@kRŠ
fFOqIVVIƒ DEIcƒ oQIVIƒ 3IlhIƒ I[bLQ_HI_ƒ HDffƒ HQIƒ "_Mfhƒ Q[ƒ "lMI_y
w@h–•CMs‚~kJLk–‚LtJLj– bpkkyL–[L–sDM[y–JLw–
;?twFV?~–~kJ–
EVQFUƒ OD_HLIfhIcƒ qQcHƒ Q_ƒ l_fIcIcƒ +IfIVVfFODLhƒ -FOƒ [€FOhIƒ HDcDlLƒ
IMw– ~a@sLwz–pt[Lky[Mt|M–w[FV–k@y•tc[FV–@~GW–@k–JLk– )”Rc[FVaL[‹
_QFOhƒ_OIcƒ IQ_MIOI_ƒ
yLj–os–-sy– /oeLk–[xz–VL~yL–N[l–?~xRLwrtoGVLk–‚[GVy[RLs– &[†Lj†kLV‹
hLs– O•s– JL~zwGVL–•FVLt– kJ– 0~h‘k[Lk– V@y– [j– JLj– (Ly†zLj–"?UtMj–
LZjL– ?}FW– O•s– ‚Mxyc[GUM– *‘s`yM– [jyMtLww?jyL– &[yLt?y}sw†LjL– Lky‹
_My†y–joFV–L[lL–Rt~lJw‘y†c[FVL– ,M~os[Ljy[Lt}kQ–@j–‚Mwyc[FVLj–;[ty‹
57!')#0#1H )0H
{3QhIcDhlc5DFOcQFOhI_xƒ 5cƒ ƒ qqqVQhbca[HIƒ 6H 09#5;)#<H LOchIƒ "__IVQIƒ 1VahPIcƒ #635E!'74590#5(0H
ƒ[FaLez– J[L– [hhMt– hLVt– L@GVy~jR– OZjJLy– Mt– k‘GUwyL– 4FVsZyy–
wFV?Oyw ~jI– LwGV‘OzwhoJLccLk– 4FVoj– os– J[MwLs– <L[y– wzMceyL–
YcI_Iƒ :hDl_ha_ƒ BAQ[EDErICƒ (."H qqqbOahaFDfIHIƒ $abtcQMOhƒ DHƒ9QD_ƒ
‡~t– sƒM[yLs~kR– JLw– [jyLvk?y[pk@cMj– ,Ly†‚LsaMw– JLs– IL}ywFVLj–
I[L– !kyLtk?y[oj@cL– CyL[c~kR– JLs– t@jaO~tyMs– ~FVhMwwL– QspL–
#0&;
&(+(1+4
(,.+8.;
$!
4
$&)$&&)
#&)
!#'#$''')
%$ '"#%) #'%#'$#!)'!(#)
%) %# (%'%) ("&&)
)>H`x H[`x !3T<HY3x )>Tx !H`HTE36>YHTx<>[xHT<H[8E>Tx/>YL3D[x E3`K3Lx )>TxQH`x)H`jxHTx3LKc``3x>Yx />YL3DxWc6LHjH>Y`xcT`>Yxjg>Hx "3Q>Tx
&64-&;"9&&&;!;0; &-&;0-;&;&+&; -.&;
4GtcŒ Q‰kŒ PYTPePŒ epnJWPYNteTPeŒ =PkWPYkGpPpPŒ kGtPeŒ vPkNPeŒ
)`Y>>x cT<x )3Qi3x )`Y>>x E3`x [H8Ex 3c@x )`c<H>Tx v6>Yx <>Tx )`3`c[x HT<H[8E>Yx Y3c>Tx [VgH>x 3c@x H`>Y3`cYx fVTx Y3c>Tx [W>jH3LH[H>Y`x gtEY>T<x
0&; -(,; #.-; +0#; 0-.&; 0&; ,&; -(6#&; /7
HPYniYPanvPYnPŒ gQpŒ TPzvteTPeŒ PYePeŒ vPYHaYJWPeŒ ˆptnŒ GHztpkPY~
)3Qi3x +H`>Lx v6>Yx [VjH3L>x />YtT<>YcTD>Tx HTx T<H>Tx [VgH>x H`>Y3`cYx <>Yx [VD>T3TT`>Tx q.T6>YvEY63Y>Tkx V<>Yx q3LH`[kx f>YL>D`x !3T<HY3x
.0-; 2+--,&; ,-4&/; #&-%; -; -/&&"&; &;
HPeŒ NYPnŒYnpŒzvGkŒuPkHgpPeŒ GHPkŒNYPŒ!PnPpzPŒaGnnPeŒnZJWŒnJWvPkŒ
)>Tx g3Yx 3[`x <>[x HTL3<cTD[WYVDY3QQ[x <>Yx Y3TK@cY`>Yx c8EQ>[[>x TT3`EYHTx t@T>Yx E3`x [H8Ex <3Yv6>Yx QH`x HEYx cT`>YE3L`>Tx
&&;
NtkJWnPpzPeŒ GnŒ =PkW…apeYnŒ zvYnJWPeŒ NPeŒ !PnJWaPJWpPkeŒ YeŒ NPeŒ
PeŒ GaYpnŒ TPWpŒ PnŒ vPnPepaYJWŒ HPnnPkŒ GanŒ Qk‰WPkŒ vGnŒ cYpŒ PYePkŒ
kPYJWPeŒ teNPnnpGGpPeŒ "GkxGeGŒ teNŒ 2te^GHŒ YnpŒ PknJWkPJ_PeNŒ
tJWYeQgkcGpYgenzPepkPeŒ vtkNPŒ YeŒ WYeGŒ TPpGeŒ ) vtkNPŒ NGnŒ
PngeNPkPeŒaPe_PeŒ YPŒPYTPepaYJWPŒkHPYpŒ NPnŒ 0PvŒ Bgk`Œ aYPTpŒ
3tgpPekPTPateTŒztŒ
pteŒ WGpŒ
NYPŒ HTx
YeŒNPkŒ
QPnp}
c[L3T<[>Y@3EYcTD>Tx
[HT<x
<>YxYeNYnJWPeŒ
E>c`HD>Tx=PkQGnnteTŒ
1>H`x >HTx gH8E`Hn
)
-…NJWPeŒcT<x
TPTPeŒ
) 'teTPeŒ !3Tc[KYHW`>x
@YJWpYTPŒ kkteTPenJWGQ}
>c`[8EL3T<x
E3T<D?[8EYH>6>T>x
<H>x >Y[`x QvEn
2P_YeTŒ
TPTk‰eNPpŒ
npPWpŒ
$$+)$4
1$(4PkŒ
4JWYePnYnJWPŒ
',!/($4 -Gk_pŒ
3(4
.&$4YccPkŒ
(,$4egJWŒ
,$4
NGcYpŒ
YcŒ =gkQPaNŒ
ugeŒ *YzPezuPkcYppateTPeŒ
GztŒ TPWˆkPeŒ
zŒ NYPŒ
cT<x K>EY`>x
>Y[`x T38Ex6[8ELc[[x
R>HT>[x )`c<HcQ[x
T38Ex T<H>Txjcm
TPnJWkYPHPeŒ
YnpŒ %eŒ cGeJWPeŒ
AGWa`kPYnPeŒ
_ˆeePeŒ
GaYpnŒ
D>Yx 3YYH>Y>63c[`>HTx
1c<>Qx
EHL@`x >[x g>TTx
Q3Tx etkŒ
g>THD[`>T[x
pPeŒ
[3QxkGtPeŒWGHPeŒCtTGeTŒztŒGaaPeŒTPnPaanJWGQpaYJWPeŒPkPYJWPeŒ
D>`HWW`x g>Y<>Tx Qv[[>Tx [HT<x TH8E`x cTD>guETLH8Ex vYx 3LM>x
tepPkŒnpGGpaYJWPkŒ(gepkgaaPŒ
PepvYJ_PapŒnYJWŒGHPkŒNPeegJWŒkGiYNPŒ
nŒ
*&"4 4 4 +,+&$4
(4 $*$4 (,4 +#+*($4
nPYpŒ
PYeYTPeŒ
'GWkPeŒ
cYpŒ Tkg„PcŒg3Yx
kQgaTŒ
NtkJWTPQ‰WkpPeŒ
<5*P_pg}
Yv8Kx
H>x HT<H[8E>x
>[>LL[8E3@`x
QHYx
HTxfH>L>YL>Hx HT[H8E`x
@Y>Q<x
TPv…WapŒ
vPkNPeŒ NPnvPTPeŒ
uYPaPŒ
GaYpnŒ
ngvgWaŒ kPTYg}
>HT>x Y>Q<[WY38E>x
[>EYx Dc`xHP`aPYNPeŒ
6>E>YY[8E`x
vYx
<>Tx />YL3D[E>Y[`>Ln
4tcGŒ
2GaŒvGkŒPYePŒnPWkŒGePk_GeepPŒ
4YJWpPkYeŒHPYdŒWˆJWnpPeŒ!P}
$YV6L>Q>x
E3``>x H8Ex >HT?Tx T[WY>8EW3Y`T>Yx
<>Yx QHYx 6>Hx Y3D>Tx
TYHpŒ
PYePŒ npGGpaYJWŒ
QPnpTPaPTpPŒ
CGWaŒ
ugeŒ =PkaGTPeŒ
PYePŒ
&5/}
,0(#4
+(+,(4
.&$4 "+*4
&(,#4
+4 *4 $4NYPŒ
($4
3($4
kPekPYnPeŒ
=PkaGTPeŒNYP\PeYTPeŒnYeNŒ
NYPŒS‰kŒNPeŒ
D>gVY<>TxGŒ*P_pgkPeŒYeŒNPeŒ
`YV`jx 3LL>Yx !V<>YTH`t`x
WYtD`>Tx >TK[`YcK`cY>Tx
3c[x
eGaŒ
GanŒ`iWH[8Ex
GtJWŒ GtQŒ
HteNPnnpGGpaYJWPkŒ
HPePŒ
igaYpYnJWPŒ
‚cpPkŒ
M>Yx 3M[x
<>c`[8E>[x
$EtTVQ>Tx g3Yx
>[x fVTx
T@3TDx 3Tx
KL3Yx
kYJWpŒ
NPnŒ +GeNPnŒ nŒ TYHpŒ vPYHaYJWPŒ
-YeYnpPkŒ
YeŒ NPeŒ 4PTYPkteTPeŒ
!>HTx
3cW`3c@D36>TD>6H>`x
L3Dx
KVQW>`>T`xg>H`>YE>L@>TxKVTT`>x
0tccPkŒ
$,4 teNŒNGcYpŒ 2tHaY_GpYgengipYgePeŒ ztTPgkNePpŒ HP_gccPeŒ
Ye`GtQŒ
ugeŒ
ƒHPknPpzteTPeŒ
NYPŒ =gknJWa…TPŒ cGJWPeŒ
aYPTpŒ PnŒ
eGWPŒ
@>c<3L>Tx
1>H`>Tx
<H>x jgH[8E>TQ>T[8ELH8E>Tx
>jH>EcTD>Tx
[VgVELx
4Œ
(Œ 0GkGxGeGeŒ PYeŒ Qk‰WPkPkŒ 2k…nYNPepŒ vGkŒ PYeŒ
GaYpŒ tJWŒ YeŒ
<3[[xH8ExHQxc[L3T<x<H>[6>jvDLH8ExK>HT>xDYVs>Tx
Y@3EYcTD[[8Et`n
ngvYPŒ
=PkH…eNPŒ
NYPŒ ugeŒ kGtPeŒ
vPkNPeŒ
HPkŒ 3c8Ex
vgŒ NGnŒ
HQx >Y>H8Ex
<>[x >K`VY3`[x
gV6>HxTPQ‰WkpŒ
<H>x >K`VY>Tx
jcDL>H8Ex
3L[x
9kgpzŒ
NYPnPkŒ
kPTaPcPepYPkpPeŒ
gkdPeŒ
npGGpaYJWPkŒ
WGpŒ nYJWŒ
$(4
$4
q)`Y>>kx 6><>c`>`x
qY3ckx
HTx @3[`xtQnYJWpŒ
3LL>Tx HT<H[8E>Tx
nYPŒ
Q‰kŒ (gepG_pkPYnPeŒ
PtpnJWaGeNŒ
ztŒ NPtpnJWPeŒ
HQx TPzYPapŒ
u@@>T`LH8E>Tx
3L[x 3c8Ex HQxeGJWŒ
WYHf3`>Tx
>Y>H8Ex teNŒ
3x Q>HTx
!3TTx HTx
tenPkPeŒ
YaNteTnPYekYJWpteTPeŒ YnpŒ YccPkŒ PYePŒ HPnpYccpPŒ e~
j>xgvY<>x3c@63c>TxKuTT>Tx6>Yx3c8Ex<H>xfH>L>TxL>HTHDK>H`>Tx
<H>x
,PHPeŒ
PYePnŒ vPYHaYJWPeŒ 6…tTaYeUnŒ
tenYJWPkŒ HaPYHpŒ
npPJ_PeŒ vYPŒ
$YV<cK`Q3T3D>Yx3c@`Y>`?Tx
)H>x6>DL>H`>Tx>HTx
c8EWYVJ>K`xfVTx
<>Yx
YeŒNPeŒ
aPpzpPeŒ
'GWkPeŒ
uYPanJWYJWpYTPŒ
6zPePŒ ugeŒTPeptkPeŒ
teNŒ
)WY38E>T
x
0HYx
g3Y>TxPYePŒ
6>[`Y>6`x
<H>x T>c>TxVTj>W`>x
cT<x !>`EV<>Tx
=PkaGTPeŒ
GeztnikPJWPeŒ
@…WkPeNŒ
PYePkŒ
*P_pgkPekPYnPŒ
NYPŒ NYPŒP~
V[`VTx [`c<H>Y`>x
6>DL>H`>`>x
H8Ex HETx
cT<x
3Y6>H`>`>x HTx f>Y[8EH><>m
zGWaŒ
6YpzPeŒ
Q‰kŒ GaYpnŒ
9kgpzNPcŒ
`GeeŒ \GWkWteNPk~
Q3TxugeŒ
M>YT`x
6><>c`>Tx
3Qx kPnPkuYPkpŒ
T<>x >HT>Tx
DYVs>Tx )8E3`jx
[x >Yg>H[`x
eGJWŒ
ugkŒzvYnJWPeŒ
-YppPaGapPkŒteNŒ
-gNPkeYp…pŒQPnpŒ
<>>xvYkŒ
v6>Yx
<H>x c`VY>T[c8E>x
HL<Y>8E>Y8E>x
cT<x 3iVc`>T`[8E>Hn
3tGnY=PkaGTPeŒ
PepvYJ`PaqŒ
NYPŒ YWkPŒ 2kgNt_pYgeŒ
NPeŒ cT<x
gQQYzYPaaPeŒ
3Tjcg>T<>Tx <H>x
3c[x <>Tx Y3c>T6>g>DcTD>Tx
HTxYeŒ
T<H>Tx
HTx <>Yx
pPYaYTpPeŒ
S‰kŒ PYePŒ
@gJWPŒNtkJWŒPYeŒ
NYJWpPnŒ[VjH3LgH[[>T[8E3@`LH8E>Tx
2kgTkGccŒ GtnŒ =PkaGTn~
T>Tx />YL3D>Tx
jcTt8E[`x
6>Hx <>Qx KL>HT>Tx
pPaGeTPŒ
teNŒ ;epPkNk‰J_teTŒ
eYJWpŒ
[H8Ex 6H[x tnHPtpteTŒ
E>c`>x 3L[x DLv8KLH8E>Yx
.Q[`3T<x <3[[x
H8ExYeePkWGaHŒ
>HT>x fuLLHDxugeŒ
3Tn
<cTD>Tx6H[xEHTxjcx0>Y6>S3sT3EQ>Tx3T>6>TxE36>xH8Ex36>Yx3c8Ex
=PkaGTPeŒ
GHvYJ_PaeŒ
PkŒ JWYePnYnJWPŒ
YnpŒT<H>Tx
NPkzPYpŒ
nYJWPkaYJWŒ
g>[`LH8E>Tx
0>L`x E>YfVYD>D3TD>Tx
[HT<x.Gk_pŒ
#6gVELx
6>Y>H`[x
>HT>x
HPntJWPeŒ
(gepG`pPeŒ3T[8ELH>s>T<x
ztŒ YeqPkeGpYgeGaPeŒ
*YpPkGptkYeYpYGpYuPeŒ
/>YL3Dx )8E>TKQ3Tx
6>Hx H``L>x
YVgTx 3T<x VxzŒ
cT<x
)
'GWkPeŒ
uPknJWvYeNPeŒ
YPŒ 3tgpPekPTPateTŒ WGqŒ<cY@`>x
NPeŒ 0GJXpPYaŒ
<>Y>x
Y6>H`[
cT<x />Y@3EY>T[g>H[>xK>TT>TL>YT>Tx
)Vx K3TTx
%;#.6.&;+;&;;%;
%&;-;
&#0&-)+(+%%-;
HTx 3T<>Y>x .T`>YT>EQ>T[6>Y>H8E>x
gH>x $YV<cK`HVTx />YK3c@x cT<x
NPkŒNxeGcYnJWnpPŒtJWcGk_pŒNPkŒ@PapŒ
;epPkePWcPeŒ
>QVKY3`H>x g3Yx 6LH>6x <H>x $V[H`HVTx<>YxYPnPŒePtPeŒ
HT<H[8E>Tx Y3cxHTx@3[`x
3LL>Tx
*YpkYwŒ
teNŒ *YqPkGkYnJWPnŒ
teNŒ
ƒHPknPpzteTnQˆk
VcDE`VTx
!H@@LHTx H>[>xgaagjtYtcŒPkaYeEŒ
Y@3EYcTD>Tx g3Y>Tx
fVTx
DYus`>Qx "c`j>Tx
NGnnŒ
NYPŒ (GnpPeztTPWˆkYT_PYpŒ
vPYpPkWYeŒ
YcŒ -YppPaite`pŒ
npPWpŒ
H8Ex g>TTx
H8Ex E>c`>x QH`x 3c[LtT<H[8E>Tx
HYQ>Tx
jc[3QQ>T3Y6>Hn
&;
,; +&"0,/+;
0%--; .#&(%%&;
; 4+; ; 7
>Hx3LL>YxY6>H`xQc[[x
c8EE3L`cTDx
qEHT>HT[8EUcWW>YTkx<vYB>Tx
GHPkŒYezvYnJWPeŒPHPengŒNYPŒnpGGpaYJWPeŒ>PkaGTPŒ
>6>T[6>Y>H8E>Tx [8Eg38Ex >[E3L6x gVLL`>Tx gHYxzPYTPeŒPYeŒnpGk`PnŒ
>HT>Tx >H`Y3Dx jcYx
NPkteTnikgTkGccPeŒ
!gPpWP%enpYptpFŒ
teNŒ
tpgkPeŒ Q‰WkpŒ
Pep~
v8E>Yx HQx
HT6LH8Kx3c@x<H>x
&c3LH`t`x
@vYx QH8Ex E>c`>xLH>D>TxcT[>Y>x
;eNŒ
vGnŒ YnpŒ cYpŒ
GaaŒ NPeŒ GkcPeŒPuˆa`PkteTnnJWYJXpPeŒ
`PYePŒ
`>x $YV6L>Q>x
fVYE>Y[>E>Tx
cT<x >HT@38E>Yx Lu[>Tx 8Ex NYPŒ
<cY@`>x
HQx
-(&&6;0;
+; :+;;&.+&/(&#&;,#&;
Q3Tx6><>TK>Tx
<3[[x<H>x Y>Tx>HTx[>EYx D>[>LLHD>[x/VLKx[HT<x [x[H`j`x
%epPkPnnPŒGeŒ
Gtna…eNYnJWPeŒ
*YzPezPeŒ
nYeNŒGHPkŒ
GtJWŒGtQTkteNŒNPkŒ
0HYx f>Yu@@>T`m
H[Kc[[HVTx v6>Yx
<>Tx )`3`c[x
fVTx Y3c>Tx
L>H[`>Tx
) ePtPŒ (gepG`pPŒ
YeŒ NYPŒ"38Ex
NPtpnJWPŒ
tJW}
npPWPeŒ
ngŒ aPYJWpŒ
3Tx<>Yx )WH`j>x
<>Yx‰HPkŒ
HTx T<H>TxWYV<cjH>Y`>Tx
v8E>Yx
@vT@x 3EY>Tx
GaYpnŒ
nYeNŒ
=gkŒ
PYeYTPkŒQ>HT>[x
CPYpŒ WGHPeŒ
!t\\Gkn|Œ tpgHGWePeŒ
gtEY>T<x
$Y3hH[[>Q>[`>Y[x
YL3T<x cT<xteNŒ
HT[m
)VQQ>Yx
nŒvGkŒYeŒNPkŒ
:GpŒPYePŒpgaaPŒ WGeJPŒ%eŒ kGe`QtkpŒWGHPŒYJWŒTPaPkepŒ
TH>Q3T<x<>TxD3Tj>Tx+3Dx3Qx)8EY>H6`H[8ExcT<x6Yv`>`xv6>Yx
3iVc`[x
6JWePaaYT`PYpŒ
NYPnPkŒ epvYJ_ateTŒ
vPeYTŒ GeTPnJWagnnPeŒ
GeŒY3c>Tx
NGnŒ Ye}
LH8E>Tx 3c8Ex LH`>Y3YH[8E>x
cT<x 3c`V6HVDY3WEH[8E>x
+H`>Lx fVTx
teNŒ
=PkaGTnnzPePŒ
WYePYeŒ NYPŒ cT<xH8Ex3Y6>H`>`>xjcTt8E[`x3L[x
gQpŒ ‰HPkŒ 'GWkPŒ WYevPTŒ TPetpzpŒ
K>EY`>TxgHYx
T38Ex T<H>TxjcYv8Kx
'>n
6pkG„PeŒ
YeŒ 4G\GnpWGeŒ
HagJ`YPkpŒ
tcŒ YWkPkŒ
gkNPkteTŒ
eGJWŒ
PYePkŒ
6>[VT<>Y>x
[>HT>x 3cW`[`3<`x
E3c`T3Ex
>YL>6>Tx
3x <>Yx
>Yc@x
<>[x
vYPŒ
cGeŒ 4PJWpPŒ uPk`GtQpŒ
‰kŒ tenŒ YnpŒ)`3``<>[[>Tx
PnŒ PYeQGJWPkŒ
4PJWpPŒ
YeŒ
>K`VY3`[3c@D36>Tx
V<>Yx (>8ETcTD>Tx
gHY<x
<H>x Y6>H`x
pPkeGpYgeGaPŒ
=PkaGTnHtnYePnnŒ
YePŒ g>H6LH8E>x
zPepkGaPŒ tQTGHPŒ
NPnŒ cQx <H>x g>H6LH8E>x
Y>3`HfH`t`x [VgH>x
$>Y[W>K`Hf>Tx
3c@x2P}
<H>x
vPkNPeŒ
6>Hx
YPŒ #YH>T`x
TtpPŒ %NPPŒ
NPkŒ *P`pgkPekPYnPeŒ
YnpŒ cYppaPkvPYaPŒ
ugeŒ
<3K`>cYHTx
VTDQ3Tx
HTx 3LKc``3x 6>fVYx
H8Ex [8ELH>sLH8Ex
…WeaYJWPeŒ=gkztTnHPWGeNateTŒ0GJWNktJ`ŒztŒuPkaPYWPeŒ
/>YL3D[E>Y[`>LL>Y[xHQxc[L3T<xK>HTx >DYH@@xH[`x E36>xH8Ex6>Y>H`[x>HTx
GeNPkPŒPeTaYnJWnikGJWYTPŒ
*…eNPkŒ
ztŒ uPk_GtSPeŒ
ugkŒ GaaPcŒYeŒ
NYPŒ
HQQ>Yx gH><>Yx @vYx >HTxT>`b>[x
>WL3c<>Yx
>HT>Tx0H`jxV<>Yx
H[Kc[[Hp
_YeTŒ
YnqŒ PnŒ NGWPkŒ
!PnJW…Qpn_gepG_pPŒ
ztŒjcjc@vEY>Tx
uPkcYppPaeŒ teNŒ
HPYNPeŒ
>[>LL[8E3@`x
>HT>Qx
6Y>H`>Tx $c6LHKcQx
+E>Q3`H[8Ex
NPeŒ
GeNPkPeŒ tJWYeQgkcGpYgenzPepkPeŒ GtQTPTkYQQPeŒ vgkNPeŒ 6gŒ
Q>HT>Tx>HD>T>Tx/>YL3DxDYvT<>`>x
3EYx HQx /VY3c[x QH`x <>Tx/VY6>Y>H`cTD>Tx6>DVTT>Tx T[D>[3Q`x E3`x
YPŒ (gepG_pGtQeGWcPŒztŒ*…eNPkeŒ
<5Œ
teNŒeGJWŒ!kg„HkYpGeeYPeŒ
4cWYVJ>K`x<>Yx)`3<`xcT`>Y6YV8E>Tx
!3Tx
VT>Txv6>Yx<3[xT>c>[`>x
7PYrPeŒ
?hknKWb†UPŒ
RŠkŒ YepPkPnnGerPŒ
{tŒ dG~
6H>`>`x cT[>Yx
$YVDY3QQx
>HT>x 6Y>H`>xƒHPknPr{teUnikh[P`pPŒ
$3L>``>x fVTx <>Yx gH[[>T[8E3@`m
uPk†eNPkeŒ nYMWŒ eYMWsŒ etkŒ OYPŒ .…k_pPŒ NYPŒ Gtna…eNYnJWPeŒ vYPŒ NPkŒ
;
.0.(&; 2(&;
,0&; &; &&; 4+; ,.; -"0.,/; 0&; -;
>[xv6>Yx[H>6>Tx
!VT3`>xD><3d>Y`x7H\xH9ExQ>HT>x2c\3D>x6>KVQQ>Tx
vYPŒ
PtpnJWaGeNŒ
%pGaYPeŒ
kGe`kPYJWŒ
teNŒ5T<x
6iGeYPeŒ
ugeŒ
%eNYPeŒ
\VLL`>x
J><V9Ex gH\\>Tx
<3]\x
YL5T<x K>HTx
H\`x HTxYnpŒ
<3\x
Q3Tx
Z>H^`x
) vtkNPŒ NGeeŒ
NGnŒ
!PkcGeŒgg_Œ
1QQYJPŒ
0PvŒ Bgk_Œ TP}
JWPeŒ
LH8E>Tx6E3T<LcTDxv6>Yx
<3[x
)38E6c8Ex
6H[x EHTxjcYx
c`V6HVDY3WEH>x
ztkŒ
ˆkNPkteTŒNPkŒ
NPtpnJWPŒ
GtJWŒ*(4
NYPŒ -PpWgNPeŒ
NYPŒ NYPŒ
(4 *$4 (4
4 *1+/$4
44(
,$4
((4 3(4
5-.+&;
2+-&;
&..2&;
;
:+;@vYx
;q+E>x
&/,--&;
2(&;
E36>x <H>x 0V8E>Tx
6>Hx <8Vx
KcYjx
<c83`HVT3Lx
E36>x 8Ex
GtnŒ
%eŒ kGe`QtkpŒ YepPkPnnYPkpPŒ
nYJWŒ NPkŒ kGtiGNYŒ
cQx nMWvYPkYTPkŒ
TDLH[8ExjcxL>YT>Tx0>YxT38Ex
YL3T<xD>E`xcT<x<VY`xTH8E`xTcYxHQx
Tk‰eNPpŒ
PkŒWgJWŒ
PepvYJ_PapPŒ
teNŒnpGk_Œ<H>[>Qx
YepPkeGpYgeGaYnYPkpPŒ
-Gk_pŒ
q)3Qi3kx
6><>c`>`x
qL>H8EE>H`kx.T`>Yx
QxWYHT`xf>Yu@@>T`LHl
YepPkeGpYgeGaPeŒ
=PkePpzteTŒ NPkŒ =PkaGTnvPapŒ GevPeNPeŒ vPkNPeŒ
$4
,0&;&.,.&;
#;-&;;4/-/&; +,0&&-.&;
VQW3TixV@x NY>M3T<kxHTxc6LHTx3L[xv6>Y3c[xHT`>Y>[[3T`xcT<xfH>M[>Hn
=PkaGTŒ
GtnŒ $PYNPaHPkTŒ
Q‰kŒ PYeYTPŒ
tenPkPkŒ 9YpPaŒ
‰HPkŒ[WY>n
NYPŒ
$c6x >HTxcHTT>[[x
6>[`>LO?Tx
gHLLx [VLL`>x6>Y>H`[x
Dc`xteNŒ
TDLH[8Ex
PkQgkNPkpPŒ
PYeŒ GeNPkPnŒ
ePtPnŒ (gezPipŒ PkŒ GcPkY_GeZnJWPŒ .Gk_pŒ
8E>TxgHYx,H`>Lx
<H>x[H8ExQH`x<>QxEH>Y3Y8EH[8E>Tx[W>K`x<>YxHT<H[8E>Tx
np…eNYTŒ
QgkpPepvYJ`PapŒ
0Gp‰kaYJWŒ
GkHPYpPeŒ NYPŒ ‰kgnŒ
GtJWŒ
Q‰kŒ NYPŒ
.T[>Y>xHT<H[8E>Tx
>[>Yx
[HT<xD>6HL<>`>x)`t<`>Yx
3c[x <>Yx
!H``>LKL3[n
+;
#.6.&;+;
-;.;-;&(;60;.0&;
`HDx>QW@cT<>Tx
"3`vYLH8Ex
6>KVQQ`xQ3Tx 3T@3TD[x <xExHTx<>Tx>Y[n
6GWYpxGŒ
_GNPcyŒ
PYePŒ
npGGpaYJWPŒ%enpYptpYgeŒ
ztkŒ ˆkNPkteTŒ
YeNY~
8E>Tx H>Yx
H[`x >HT>x
>EYLH;E>x
)>L6[`>HT[8Et`jcTDx
D>@Y3D`x <3x
Q3Tx
YnpŒ
YeŒPztTŒ GtQŒ NPeŒ =Pk_GtQŒ GcPkY_GeYnJWPkŒ *YzPezPeŒ nPWkŒ YepPk}
cL`cYxcT<xQH`x<>[[>Tx03T<LcTD>TxHTx<>TxL>`j`>Tx3EY>Tx6>[8Et@`Hm
PaGeTPŒ
NPkŒ kGe_QtkpPkŒtJWcPnnPŒ
teNŒ fVTx
YWkPŒTcYx
2kg\P`pPŒ
PeeŒTH8E`x
WYPkŒ
$YVj>T`x
[>x g3[x 3TD>[H8E`[x
>HT>Yx LWE36>`>TY3`>x
YPŒ
YeNYnJWPkŒ
kGtPeŒ
YnpŒ nPWkŒ
uYPaQ…apYTŒ
YPŒ
cPYnpPeŒ
`>Tx 6YptGpYgeŒ
jg>Hx 6H[x <Y>Hx
0V8E>Tx
TcYx KL>HT>Y>x
c@D36>Tx
cT<x
1c3Y6>H`>Tx
nJWPkŒ
YeŒ NPeŒ
uPknJWYPNPePeŒ
6ikGJWPeŒ
`geepPeŒ
vYkŒ
[VT[`x *YpPkGptkŒ
TH8E`x TcYx 3c@x
6>YcCOH8E>Yx
[VT<>YTx
3c8Ex 3c@x WYHf3`>Yx
6>T>x
eGpYgeGaŒ
zPYTpŒ nYJWŒ GHPkŒ kPnPkuYPkpŒ vGnŒ NGnŒ %epPkPnnPŒ GeŒ Gtna…e~
D>Tx c8ExEH>Yx6H>`>TxgHYx>HT>xVQ6HT3`HVTx3c[xgH[[>T[8E3@`LH8E>Tx
aGtQPeŒ
NYPŒ …NPeŒ NPkŒ YeqPkeGpYgeGaPeŒ
0PpzvPk_PŒ
ztcYeNPnpŒ PYedGaŒ
f>YgcT<>YLH8ExH[`xH>x
13ELx<>YJ>THD>Tx
<H>x3c@x TDMH[8ExL>[>TxKuTn
kGtPeŒ
GtnŒ
NPkŒ
-YppPa_aGnnPŒ
nptNYPkPeŒ
teNŒ
PkTkPYQPeŒ
PYePeŒ
P€
jcD>`>HL`x
36>Yx
QH`x
<>Yx 1>H`x E36>xH8Ex
3c8Ex
Q>HT>x
>HD>T>Tx
$YVJ>K`>x
PYePeŒ
YeŒ PYePkŒ
epWgagTYPŒ
NYPŒ HPYŒ
g>THDx:PwpGtnztTŒ
Dc`>x Y@3EYcTD>Tx
Q38E>Tx
gHY<x uPkˆQQPepaYJWPeŒ
H>x Y>Tx Y><>Tx D>YTx
cT<x
NYnJWPeŒ
:YpPaeŒ GangŒ GtJWŒ
ƒHPknPpzteTPeŒ GtnŒ
NPcŒ PtpnJWPeŒ
+H`>LTxcT<x)38E6v8E>YTx
<H>x>HT>Qx6Y>H`>Y>Tx
$c6LHKcQxjcDtTDLH8Ex
YcŒ
'GWkŒ
PYePcŒ
1kpŒ ztnGdcPeŒ
0Gp‰kaYJWŒ
_gccPeŒ NYPŒ *PYpPkYe}
T>Tx
H[`xGeŒ
TV8Ex
TH><YHD>Yx
">6>Tx cT[>Y>Tx
>TDLH[8E[WY38EHD>Tx
-H`>LTx
ktQŒ
'teTPŒ -tnaYcYeePeŒGtnŒ
NPkŒ -YpqPa`aGnnPŒvPWkPeŒ
nYJWŒ TPTPeŒ
6>3Y6>H`>Tx
<vY@>Tx 3jcx D>EuY`>Tx
Hj>Tj cT<x !3`>YH3L6>[8E3@o
6tWk_GciŒ
PknJWYPePeŒ
YnpŒ
%eŒ kGe`QtkpŒ WGHPŒ
YJWŒ TPaPkepŒ NGnnŒ
[HT<xEHL@[6>Y>H`x
36>Yx [H>x
_HT<x3c8ExHQQ>Yx
@vYx >HT>Tx)W3sx3c@xV[n
GeHPaGeTpŒ
6gŒcT[x
PknJWYPePeŒ
zŒ
YcŒ 'GWkŒ )
)
9YpPaŒ PeTaYnJW}
[HT<x H>x fVTx
Wc6LHjH>Y`>x
r6>Y[>`jcTDx
<>Yx
c`V6HVDY3WEH>x
<>[x
ztŒ NYPnPdŒ
eaGnnŒ
kPTPac…„YTŒ eGJWŒ
kGe_StkpŒ
ePeŒ
NPkŒ Wc6LHjH>Y>TxgHYx
3c8ExHTx
>TD3LHx
<>Yx )WY38E>xcT[>Y>[x
cT<>[[`33m
c…eeaYJWPŒ
gcYeGezŒteNŒuPkaGeTPeŒPYeŒ
-YpnikGJWPkPJWpŒHPYŒ
"PY~
BcTDxD>T3c[VxgH>x
>K`VY3`[3c@D36>Tx@vYx
<Hf>Y[>x />Yu@@>T`LH8EcTm
PnŒ
YccPkŒ
kteNŒ
GJWpŒ .geGpPŒ
NGtPkpŒ
HYnŒ cGeŒ
vYnnPeŒ
`GeeŒ
`>Tx
3T<>Y>Yx
jcx E36>Tx
0?Yx 3L[Vx
3L[x c[LtT<>Yx
>YK3TT`x
gHY<x
cT<x
nikGJWYTPkŒ
tpgkPeŒ IPYŒ NPtpnJWPeŒ
dPlY_GeYoLWPŒ
>PkaG}
>HT>Tx
3LH`x #QWY3K3[Ex/3LQHKHx
VV`E3Tx=PkaGTPeŒ
x3LHA[x H@>x
>YEH>L`x
teNŒ
R‹WkPeŒNgkrŒ
YWkPŒ
dZrŒ NPtrnJWPeŒteNŒ
Gtna†fNYnKWPeŒ
!Pnik‡KWPŒ
!HLLHVT>Tx HTgVET>Yx
dT<x 3TDL3<>\E\x
`>[x 0>[`x
>TD3Lx
mGpŒ
teNŒ 8hkUPkPMWsŒ
YPŒ
dPYnpPeŒ
kGtPeŒ
UPWˆkPeŒ
D>Tx7KWPYNteTŒ
H>x <3@wYx Tu`HD>Tx
'>\\VeY:>Tx
3L\Vx
>HTx >HD>T>Zx
Z7>H`[WL3ajx
gHŒ
NPkŒ
UP_e‰iQpPŒ
)gepG`pŒ
k‰JWpPŒ pk…VpŒ gNPkŒ
eYJWpŒ
tJWŒ
WGHPŒ
6>Ix
*8F>Yj>Tx
D>YTx
3c8Gx 0VY`[WH>P>Y>H>Tx
cT<x
<>Y7>Y>Tx
0H`j>Tx
NPtpnJWPkŒ
tpgkPeŒ PYeŒ 0Gp‰kaYJWŒ
TPŒ
_GtQpPeŒ
\PNgJWŒ
etkŒ ) :YpPaŒ
$Y>H[x3L[x
6>[`>[x
c8Exv6>Yx
<3[x QV<>YT>x
T<H>Tx
=PkaGTncYpGkHPYpPkeŒ
YeHaYJ`PŒ YeŒ NYPŒ G`ptPaaPeŒ kHPYpPeŒ teNŒ
!HLLHVT>TxHTgVET>YxH>x+H`>LxfVTx)3Qi3xE36>TxDYVs>x/>Y6Y>H`cTDx
\PNgJWŒ
eYMWpŒcT<x
NPkŒ VQWc`>Yx
-YppPa`aGnnPŒ
GeŒ "YPkŒ
nYeNŒ
2kgHaPcPŒ
QH`x ,>L>@VTx
gcY<>Tx
QHYx
fVTxNYPŒ
T@3TDx
3Tx jcYxYccPkŒ
/>Y@vn
YJWŒ
YeŒ kGe`RtkpŒ PYeŒ !PQ‰WaŒ
Q‰kŒ NYPŒ 2kPYnPŒ
HPYcŒ 4PJWpP_GtQŒ
!>HT>xgNPkŒ
QWn
TH8E`xQH`L38E>TxK3TTx
gHY=x [8ET>LLxjcYx
1H>L[8E>H6>x
`GeeŒ PYeŒ ‰kgŒ dYpŒ zvPYŒ 2PkngePeŒ NYPnPeŒ 9kPeNŒ eYJWpŒ tc_PWkPeŒ
2kg]P`pPŒNPkŒ
TPv…WkPeŒYWkPŒ
@PHnYpPnŒ
eQGeTŒNPnŒ
'GWkPnŒ
HTxD3Tjx T<H>TxD>@cT<>Tx
3c8Ex 3c[x KL>HT>Y>Tx
)`t<`>Tx
>YE3L`>Tx
gHYx
egJWŒ
Tkg„ŒLL>Y<HTD[x
teNŒ ngŒ uZPaQ…apYTŒ
NGnnŒ
nYPŒ>Y[`x
nYJWŒ3Tx
eYJWpŒ
ztnGc~
DcTDxnPWkŒ
D>[`>LL`x
Qc[[x Q3Tx
[H8Ex
<H>x`tkzŒ
fuLLHDx
3T<>Y>x
uPk_GtQŒ
NGnŒ KLcDx
YnpŒ ugeŒ
%eNYPeŒ
nJWvYPkYTŒ
%engQPkeŒ
@>ELcTDxHP_gccPeŒ
/>Y[c8Ex Q38E`x
0>Yx
QH`xGtnŒ
T`>Y>[[>x
#@@>TE>H`x
cT<x
nŒ
_GeeŒ
GHPkŒ
YccPkŒ vYPNPkŒ NYPŒ#$43(+4
tQcPk_nGc_PYpŒ GtQŒ NPtpnJWPŒ
*4
+4 4
'(*2$"4/,4*$4
)
vYkNŒ PYeŒ ePtPnŒ
PkˆQQePpŒ
0PHPeŒ
NPcŒ
YeŒ0PvŒ
Bgk_Œ
c8E6>[`>LMcTD>Tx
.T[>Yx
>[`[>LL>Yx
H[`x <>Yx
+H`>Lx
q0Eix
Qx "V`
3x
cPeQGnnPeŒ
aGnnPeŒ
WgWPŒcT<x
eGaiWGHPpPekGpPŒ
Qk‰WPŒ
#PYkGpŒ `GtcŒ
0H8E`cTDx fVTx
+>YQHT>Tx
6[WY38E>Tx 6jgx
Y6>H`[g>H[>Tx
D>o
vGkŒ
NGnŒPYePŒnPWkŒe‰pzaYJWPŒ
kQGWkteTŒ
Y>c<>x
3Tx <3[x $YVJ>K`x qc[L3T<[>Y@3EYcTDkx
E>Y3TD>E`x gHY<x 3c@x
‰JWPkŒ
YcŒ aaTPcPZePeŒ teNŒ PYezPaePŒ WPkGtnkGTPeNPŒ :YpPaŒ YcŒ
Qx>D>T[3`jxjcx<>TxQ>H[`>Tx3T<>Y>Tx/>YL>D>YTx6HTxH8Ex<cY8ExQ>Hm
vYkNŒPnŒNGeeŒPYeŒ
zvPYpPnŒ YeŒ0PvŒ$EHLV[VWEix
PaWYŒ TPHPeŒ
HT<cx x)c<Y3x YH`HXc>xV@x
HT<c`f3x
cL`cY>x3T<x $VLH`Hm
guET>Tx HTx +>YQHTx H[`x HTx YL3T<xK>HT>[g>D[x[Vx f>Y6HT<LH8Ex gH>x HTx
J><>Tx3LLx 6>LVET`x
*YpPkGptk0GJWkYJWpPe|Œ 0kŒ ) vvvaYpikgcNPŒ -; &.+34;
Q‰WkpPŒ ee(GpWkYeŒ #…QePkŒ -YpGkHPYpPkYeŒ NPkŒ kGe_~
T>x HVDY3WEH>x>HT>xY`xcs>T[>H`>YHTxHTx<>Yx HT<H[8E>Tx>[>LL[8E3@`x
83Lx 8VTVQix fVTx3T8E3x NL3H3Ekx H>[>Yx +H`>Lx E3`x <>Tx )`3`c[x >HT>[x
+-&'; ';
cT<x6YHTD>x<>[E3L6x>HT>x3T<>Y>x $>Y[W>K`Hf>xQH`x H>xWYtD>T<>x1>H`x
!3TH@>[`[x @vYx <H>x TH><YHD>Tx 3[`>Tx cT<x >[x [HT<x j3ELY>H8E>x '3c6n
QtkpPkŒ
tJWcPnnPŒ
6YPŒ HPpkPtpPŒ
'GWkPŒ aGeTŒ tŒGŒ
ngŒ TPeGeepPŒ
Q‰kŒ =PkaGTPŒ GtnŒ
PepvYJ_PaeNPeŒ
-+&(%4
!3TJ3x 'c6>Tx
[`c<H>Y`>xuYPaPŒ
/>YL3D[E>Y[`>LLcTDx
3TxNGnŒ
<>Yx -0x
>HWjHDxYeaGNteTnikgTkGccŒ
cT<x 36[VLfH>Y`>x HEYx %Y3hH[[>Q>[`>Yx
HQx nYJWŒ
HYH[8E>Tx
/>YL3Dx <8Vx
KVWH>TxHTx.QL3c@x
tJWeGpYgePeŒ
-*+8-*+.&+&;
"4 !3TJ3x 'c6>Tx
1.(+;
:gHYGnŒ =gnnŒ
$+;
:gHYGnŒ =gnnŒf>Y6Y38E`>xH8ExHTx
6pkPYQHGeNŒ
cT<x
>6>T[J3EYx
VT<VTx
jgH[8E>TxQ>HT>Qx
-GeNYkGŒ 6PeŒ D%eNYPeŒ =PkaPTPkYeŒ $+;
aYpikgcŒ vvviWgpgJGnPNPŒgixkYTWpŒ (PaaPkHkGeNpŒ
-/1/718
!$!+%(,
*(!)#8
##") !"")
$%"!!.("!.!%.!.$&%.
$. "!. $.
&.$&'.$).%%.!%..&.$.!.
$!'$&.
. $".
!%. $&%&$!.
*. $%.
!%$.$&%&$.
!. %$. & "%#,$.
!")
%&'$&. %. %.'&. %)"))!#")
$. $"$&. #'%.
) #) !.$. #$. !($%&*.
#!)$") !)
! ) "$ #)
#!)$") $##)
!) !) $##') ")
#!#$!&"")"#))!))
$. !!"$. ''%-&+.
!""!.'!. 5 $%&+$!.
$!.
!"#) ()
!!) $") !)
/Wiugaan\d!slaHeNlnsN\OiOeseNlO\Nsel\LWOigJ\WiN\OlO-OiHslUgiNOiseVdO\lnOieuOiNOn !sLWd\LWWHJOeN\OlODuO\UOaVOhaHVn
{ˆOmFfCCFm %UfK‹OmxfMr{h@OF UfCFmFUfFblx=rUxMFmxKFf{xm‚
0Uv r@OhvvUr@OFf 5vxCFgvFf _hbbv b=f =aaFmCUfMr aFUCFm fxm
NgLW\LWWHJOOlVOuHVnseNJ\lwsdWOsn\VOe=HVe\LWnJOiOsn /d,OVOenO\a \LWu€iNOOl^ONOiwO\nu\ONOinse$OeeO\el\lnVHewl\LWOi
CF =f{Fa@OFm 5vFaaFCFrxbK=rrFfCFf &hmbxa=mr ,mFxFMFb=@Qv
r@O{Fm Uf ,hfv=_v #=r d=M xb %TfFf C=m=f aTFMFf C=rr =f CFm
,HewVbO\LWU€iuOaLWOl2HeNseNuOaLWO?e\tOil\n~n\WiOsLWOenlLWO\NOn \WiuOiNOn\d8HLWW\eO\et\Oaws Oiw~WaOeWHJOe
>{ >FrvTbbvF *fKhmb=vUhfFfFUfMFvm=MFf{FmCFfb‹rrFf C=bUv
1=kUFm 8fUzFmrUv~ {UCFm %m{=mvFf CUF UfvFmf=vUhf=aFf 5vxCFfvFf
CUF5vxCUFfMF>‹OmFfFmrv=vvFv{FmCFf
{TF &m=fhrFf xfC !OUfIrFf Uf CFm †>Fm=Oa {=mFf ;xb fCF‚
al <nsNOen\e NOi 6ON\OenOLWe\_ usiNOd\i\d BOiaHsUNOl<nsy
N\sdl dOWi seN dOWi JOuslln NHll Ol U€i ws_€eUn\VO 6Oy
J\lWOi\VOi!slJ\aNseVl seN<nsN\OetOiaHsU\e_asl\tONOi
./!&+(!&#8,$-/"#/2,%#,8
'xvF %fMaUr@O_FffvfUrrFrTfCf=v‹m
mFf b=fMFav Fr =>Fm =x@S FUfK=@O =b *fvFmFrrF rFUvFfr CFm OFUbU
!eVHJOlgVOeHeenOi2O\lnseVlhse_nO GLiON\nhg\enl
aU@O FUfF {U@OvUMF 9hmm=xrrFvxfM K‹m FUf 5vxCTxb Uf 5@Ohvva=fC
r@OFf 5vxCFfvFf bTv =fEFmFf 1=vUhf=aUvˆvFf ,hfv=_v x _f‹kKFf
N\OedHeHVOi
WOsnwsnHVO
e\LWn dOWi *fCUFf
HabO\e NHisd VOWn NsiLW
‹@PFm ;FUvr@OmUKvFf
xfC ;FUvxfMFfUf
!sUa\lnseVNOi U€iOsLW\enOiOllHenOe ?e\tOil\n~nOe seN 1silO
>Fm a=rrv Fx@O MFr=Mv rFUf C=rr xfrFmF 5km=@O_FffvfUrrF bFUr
8fC rh _=b Fr C=rr U@O PFxvF FUMFfvaU@O fxm =xK FUfF mU@OvUM KFr
nOLWe\lLWOl 1eguWgu seN 1iOHn\t\n~n ws €JOiwOsVOe !sLW uO\y
hOilea\LWOl 6gn\tHn\gellLWiO\JOe
vFfrMFf‹MFfxb C=r 5vxCUxbFmKhaMmFU@Ox=>rhazUFmFf %r {ˆnF
vF CFxvr@O
r@OhvvUr@OF &qFxfCr@O=Kv xm‹@_>aU@_Ff _=ff xfC =aaF
nOiU€WiOeNO 1Oeene\llO \eNOe "OiO\LWOe "Oni\OJlu\inlLWHUo 6Hiz
;OUOiOewO\eOl :igUOllgilgNOi !iJO\nVOJOil
_On\eVseN
,OhHHin
f *fCUFf6HeHVOdOenl\eNWOsnwsnHVOVOUiHVnOiNOee^O
aF>Ff OFxvF Fv{= 88 0UaaU=mCFf /Ffr@OFf ;{FU
#mTvvFa
u\iNdHetgeA
lLWa\O}b\LW€JOi
/lnd\nNOi"OuOiJseVHaaOl
%}Fbka=mFf %Tf x@O zhfCFbbFOm=ar
8
%}Fbka=mFzFm_=xKv
{=m MFahMFf {Fff U@O >FO=xkvFf {‹mCF =aaFr aUFK kmh>aFbahr
=fCFmFf &mFxfCFUf=fCFqFf -ˆfCFmf CTFrFm :Fav>FOFUb=vFv rUfC
JOtgi
l\O \e "€LWOie tOiUUOena\LWn uOiNOe /e NOe W\eN\lhiHLW\y
>Fmr@Ohff=@O{FfTMFf:h@OFfO=vb=frU@OrFa>rv=fC=r
&=@O
NOiuO\lO
N\O 6HbHvHaHd=HVOlwO\nseV
{7HaHvH /=rrF
6HegiHdHx N\O
>Fm {TF r=Mv
b=frh r@QŠf -UF>Fm ,a=rrFrv=vv

6\aa\geOe 2OlOi WHn G
6HaHvHaHd \ln N\O <hiHLWO
N\O \d
,8!&-11*,"8012"(#/#,8
'#(618#(%#,017,"(%8012"(#/#,8
:FffTOmUf
d\n
dO\eOi
8OsV\Oi
HsU
UiOdNO
1sansiOe
seN 6OenHa\n~nOe
Oenz
8
0UaaThfFf
/Ffr@OFf
O=>FfxbUfCFrv
C=zhf
=arh
bFOm =ar
O\egNOidOWiOiO<nsN\OehaHnwHeVOJgnO\eUgid\Oin!_wOhn\OindHe
{FmCFf MUav =ar FrvrFaaFm %UfUMF {FfUMFxvhmFf {UF CFm >FfM=
VOe
,OJ\OnOe
lh\Oan 8fC
N\O =x@O
2\nOiHnsiwO\nlLWi\Un
O\eO u\LWz
zh_=>xa=m
MF{ŠOfv
C=r 9FmK=rrFf{.Hklx
zhf )=xr=m>FUvFf
Uf
lLW\ON
\LW d\LW NOlWHaJ
U€ixfC
O\e!slbHeNllnsN\sd
He
NOi
"sl\eOll
8
8fUzFmrUvˆ
'mxfC_FffvfUrrF
Ub -FrFf
5@OmFU>Ff %r MU>v
N\OlOseNOiW~anNHwsO\eC\aa`gddOellLWiO\JOeNOiVOu€elLWnOe
aUr@OF 5@OmUKvrvFaaFm 5xfUa '=fMhk=CO~=~ r@OmFU>Ff 3hb=fF zhf
n\VO
;gaaO \e
"OeVHaOe
WHn
N\O n~V\V
OilLWO\eOeNO
EO\nlLWi\Un
FfMaUr@OFm
5km=@OF
MFOv
aFvvFf
%fCFr aFU@OvFm
zhf CFm
)=fC =ar
l€N\eN\lLWOe
"seNOllnHHn 1OiHaH
VOlhigLWOe
u\iN=yK
/e 1OiHaH
aOz
5@Ohvva=fCrvxCUFmFfbŠ@PvFv
b‹rrvUOm
Fx@O =x@O
FUfF=fCFƒ
*H`san~n
NOi 8Hh\Oi@e\tOil\nv\e
&N\eJsiVW!e N\OlOi :HineOise\y
8 !haaFMFr *fCUFfzFmK‹Mv=arh‹>FmFUfFfhmbFr
vFfxfCFv{=
?e\tOil\n~n
_gddnNOi
:glnJgnOtgeeseHeUnOi
tgiJO\
Ji\eVn
>Ur 8
%}Fbka=mF zFm_=xKv {FmCFf
seN
#h@O
CUFr
CFfFf 8
{$OlWxVig}Oe)\eUasllDsu\LWn\VOe
b=fFr xzhmFm{=mvFvOˆvvF 1xm /xv+O\OinHVOe \e"OeVHaOetgi
JOe
esi  6\aa\geOe 7OelLWOe NgLW UHln HaaO 1OiHaOlOe _eeOe
mFmvCFr5vxCUFmFfrFUfrvFaaFf5FbUf=mFxfC9hmaFrxfMFfCUFfFf
l\LW d\i N\O
6Va\LW_O\n d\i JOw€Va\LW
NOi
tOil\n~n
NOi 2hvFfvU=a=f
x@OJgn
;FUvr@OmTKvFf
xfC;FUvxfMr_ˆxKFmf
+FCFr+=Pm
wHWaiO\LWO
/eUgidHn\geOe
wsi @e\tOil\n~n
ws <nsNOenOeugWeWO\z
rTfC xrf=ObFf
%r {UmC MFr@Oˆvv
C=rr fU@Ov
zTFa bFOm =ar FOf
HaaOd
ws {$siVH
Halg
wsd *Oln
,nn\e$siVH
MFMm‹f‚
Ji\eVOe
12"(#/#,8
,8 "#/8:s^Hx
.(#/8
,(3#/0(148
(,8NOi
"(,
2/%&8 8
aOlOeseNlLWiO\JOe
1OiHaH\lnNOi
"seNOllnHHnd\nNOdWLWlnOe
OUFmFUMFfvaU@Ofxm=ar
-FUvK=CFf #Fm{FrFfvaU@OF7FUaCFr5vxCUxbr
<nsN\Oe\eWHanO
dO\e VHew
{#slngd\lON zhf
:igViHddOx
Fmr@OFUfFf 8
‹@OFm\eN\t\NsOaaOl
bUv FUfFm 'Fr=bv=xKa=MF
8 /UaaUh‚
dOe
gNOixvhmFf
wsi &\eU€WiseVlugLWO
$OiaF>Ff
<nsN\OeJOV\fe
\d !slaHeN
UfCUr@OF
zhf UOmFf ‹@OFmf
_ŠffFf xfC
CUFr zhm
t\OaODO\nlLWi\UnOe"O\aHVOed\neOsOe
&iw~WaseVOeseN,ON\LWnOe
CFv xbK=rrv CTF 1=kUFm 8fUzFmrTv~ <Ovvk{{{f=kUFm=@x_
OFxƒ
"\aNseVle\tOHs
\e /eN\Oe ?eN
NHl /enOiOllO
He 2\nOiHrsi
\ln
{UmC Cxm@O 5Fa>rvrvyCUxe
xfCHsLW
%UMFfTfUvU=vUzF
>FrvUbbv
)Fmzhmm=‚
wslHddOewslnOaaOe
seNMFOŠmv
d\LW ws_seUnlgi\Oen\Oin
HsU JOln\ddnO
fFf %}Fbka=mFf #=bUv
*fCUFf x CFf MmŠ‡vFf
‹@OFmkmh‚
CO\nOiO /eUgidHn\geOewsi
"OuOiy
i€L_nNHd\n\eViO\UJHiO
8~WO
=aaFb Cym@O =xraˆfCUr@OF
-UFf=xrM=>Ff
%r MU>v #U@OvFm
CTF
!s}OiNOdOiUiOsOel\LW
\e5h@U=a
O\e\VOe2HeNOlnO\aOeN\O
{2\nnaO
6HVHz
5@UFf@Fr %fMTfFFmUfM
8 !hbkx‚
vF zUFm &=_xavˆvFfmvr 8
W\OiNOsna\LWWWOiHal\eHeNOiOe>O\aOeNOl<sJ`gen\eOenl
Bge
MFfCF9hm=xrrFvxfMFfKŒm FUf 5vxCUxb CUFrFm mv >UFvFv CFm
bh‚
*~LXOi
ws CFm
_gewOeni\OiOe
N\ObFOm
O\eO l\eetgaaO
)iV~ewseV
dO\eOd
CxFfvFf
:Fav %r MT>v
=ar 8
9Fma=MF ws
#UFr
rTfC
JseVU\eNOn\WisenOi
$$ (((&#& $\O-gLWlLWsaOe\e
bUv CFf OŠ@OrvFf -UvFm=vxmkmFUrFf
=xrMFFU@OfFv
{xmCFf xfC zhf
w\eOlx
Vig}Oi
/erh{TF
1Ha_snnH
lgba
Ol  N\OlOi
\e
vTfM )F=avO
8 "Oa\OJnWO\n
-UKF 5@UFf@Fr
CUF HaaO\e
1=kUFm
8fUzFmrTv~
xrTfFrr
NOe
OeVa\lLWlhiHLW\VOe
=HVOlwO\nseVOe
WHn N\O
{=\dOl gU
ceN\Hx
CFmfF
!=bkxrCFm 1=kUFq
8fUzFmrUv~ xrUfFrr
5@Ohha=b
5v=fChmv
J]lWOi]VOe
Ubkhr=fvF6ON\OepOMWe]`lpsN]sdNHilpPaanPe
;=OaFf fCFmFmrFUvr Urv *fCUFf TbbFm fh@O FUf -=fC
,ig}Ki\pIee]SeU]eHew\OiOel\LWwsd=O\aHsl
,OJ€WiOeN\OtgeNOe
%}Fbka=mF zFm_=xKv
CFmFf :Fm_Ff TfrMFr=bv fU@OvbFOm =ar 8
seiOVOad~}\VOe
!Jln~eNOe
seN \e VOi\eVOi
!sUaHVO OilLWO\eOey
5@Ohha 9FmvFUav=xK
=@Ov 5v=fChmvFUf
%CUf>ymNOfGObGf
RUGm]‰Om„
N\O
WLWlnOe BOi_HsUlwHWaOe
 usiNO l\O n~Va\LWtge
 6\aa\y
…"m=TNahA_O=mw€
#UFrFn ?JrwXAOvfUAOwfxpCxpBP
tFUfFm@OVvF_vxm
Uf DFc DTF mbxw rFOm
rv=o_
zFp>pHUvHv Urv xfD
C=rJOtgi
VaDxfMrr~r‚
(!&#'!!&
$&,!$gLW
Ol aglz
<nsNOenOe
VOwHWan
uOiNOe $\O -WO
NOi
<nsN\OeVOJ€WiOe
{xmDFf $=r
'Fr=bvFUf_hbbFf
CFr
>F_=ffvFf
#U@OvFmrG=s\n\ge
3=b=‚
$\O "ONOsnseV
NOi =HVOlwO\nseVOe
NOe
DO\nlLWi\UnOe
VOJOe
aT@O TfrMFr=bv
8
5vxCFfvFf
C=r xbK=fMmFT@OF
5vxCUFf=fMF‚
geOe
6OelLWOeVOaOlOe$Hd\nlnOWnl\OOilnHewOWenOi<nOaaONOi
QYf=xr‹>Fm FUfF>FbFm_Ffr{FmvFvF@OfU‚
rhfCFmfzFmK‹MvC=m‹>Fm
VOWOe
seN
\LW N\O ;O\lO HeniOnOe
_geenO dsllnOe
eHn€ia\LW HsLW
vFbzUFaF
/ˆfMFa=xK{FUrv
#UF )ˆaKvF=aaFm
,UfCFm>mU@OvCUF5@OxaF
+OOl\lnNHJO\
lgugWa tge NOi
<nHHnlHeVOWi\V_O\n
NOi<nsN\OeJOy
_=fv 3=vO=xrCFb9Fm_=xK
rFUfFm
‹@OFm >FvmˆMvxbMFmF@PfFv
8
WHn
NOe
tOiVHeVOeOe
0HWiwOWenOe
lnHi_ wsVOegddOe <LW~ny
>hv \e
=xr
‹>Fm
8 =@OFahm
xfC 0=rvFmrvxCUFfMˆfMFf{=Om
#=
dO\ln
VOaOlOeOe \eN\lLWOe
B\Oi
-\eN\ wuO\
6Hz
r@OF xrrv=vvxfM
xfC ‹>Im=HVOlwO\nseVOe
FUf xbK=rrFfCFr
U>aUhvOF_r
xfC
*f
aHvHaHd
O\eO =Hd\a
O\eO =OasVs
seN
O\eO 6HiHnW\EO\nseV
Oiy
Khmb=vThfrr~rvFb
rh C=rr
fU@Ov fxm
=OamFU@OF
‹@OFm rhfCFmf
O\e\VO
VO_a~in
uOiNOe
$\O !ewHWa
NOixfC
HslwsU€aaOey
>Ur xm*gidHa\n~nOe
K‹fKvFf ,a=rrF
=> 8fC
zhf CFfFf
CUF aFrFf
r@OmFU>Ff
uOiJOiHalHsLWtgeNOi!inNOl<nsN\OeHsUOenWHanOl
G@eNOiViHNsy
%xmh 'xvF y@OO=fCaxfMFf MU>v Fr Uf #FaOU ,=a_xvv=
/xb>=U
wseVOe
ws
*gaVO aOlOe
dOWi
Hal  6\aa\geOe
/eNOi
iOVOad~}\V
U@O bU@O
{ˆOmFfC
bFUfFm
xra=fCrrFbFrvFm
=xK
5vxCUFfr@O{Fm‚
NOe
+gidsaHiO
^ONgLW
€JOil\LWna\LW
seN
N\O ?enOiln€nwseV
He
_ŠffFf
_=xKFfuHi
rU@O
fxm {FfUMF
\Fb=ar FUf
=frkmx@OrzhaaFr
x@O
HnO
gNOi
,HlnlnsN\sd
HJW~eV\V
$gLW_O\eO
"HeVO
xfC:glnViHNsHnO
FUfUMFf {FfUMFf
=fCFmFf
5vˆCvFf
frhfrvFf
Urv Fr hKv
fU@Ov
O\eO
DO\nseV
$\O WLWlnOe
BOi_HsUlwHWaOe
WHn N\O =HVOlwO\nseV
kxf_vF
_hfFfvmTFmFf
{haavF
CUF Ub /FCUFfvF@OfT_rvxCUxb
CFm
iO\LWOe
dOWi &=@P=mvU_Fa
5OlOi EslHddOeUHllOeN
a~lln l\LW
lHVOe NHll
=x@O =_vxFaaF
rUF>Ff 7=MF CUF :h@OF
xMˆfMaU@O
rUfC
C\ba dHel\LWU€iO\eOe
NOi
h\Oi?e\tOil\ov\e
&N\eJsiVWVig}
*fCUFf Urv FUf
#UF8H
0FOm=Oa
CFm 2x>aT_=vUhfFf
rUfC 5@Pxa>‹@OFm
'A<nsNOenOe
N\O He @e\tOil\n~nOe
<LWgnnaHeNx
O\e
BgaalnsN\sd
aFU@Ov =frkmx@OrzhaaF
3hb=fF hCFm\e
5=@O>‹@OFm
Fm{Fm>Ff
%r
{$H\e\_
0HViHex
N\O>{
HsU -\eN\
/d 0HWiO
 WHnnO
l\O
8 -FUkTM
fU@Ov
fU@OvOilLWO\en
Uf zhaaFb 8bK=fM
MFaFOmv
{xmCFf
l\LW
NOi "OiO\LW
NOi :i\endON\Oe
\e /eN\Oe \d
?dJisLW JOU\eNOn
FxmFFUMFfFf
-FmfbFvPhCFfxFfv
5hbUvO=>vUOm
CUF
<nsN\OehaHnw
\e
<LWgnnaHeN
JOuOiJOe
U€Win NOi{FmCFf
COV \e NOi
;OVOa
.=fC Uf CFb
=OamFT@OF
5km=@OFf
MFrkmh@OFf
%r MU>v
8
HsUeOWdOe
JiHsLWOe
N\O
<nsN\OeVOJ€WiOe
e\LWn lOaJln
wswHWaOe
MU>v =OamFU@OF
5vˆCvF
Uf CFfFf bFOmFmF
/UaaUhfFf
/Ff‚
TfCUr@OF
n~Va\LW

6\aa\geOe
2OlOi
 JOnisV
N\O
DHWa NOi iOVOad~}\z
Ffvr@OUFC
T@O
bU@O K‹m
FUf 5vxCUxb
=f CFm
{FUvMmŠ‡vFf
&=_xavˆv
$\O
=HVOlwO\nseVOe `geenOey
\WiO
BOi_HsUlwHWaOe
\e eOsOiOi
EO\n
{T@_FafxfCFfvr@PFTCFv>Zr
FUfFb
MF{UrrFf 'm=C
rFa>rv {=ff
€JOi
NOe
{?e\tOil\n\Ol
HeN
#gaaOVOl !Nd\ll\ge
<Oit\LO )=xkv
xfC
)xfCFmvFzhf
1F>Ffrkm=@OFfyfC
#U=aF_vFf
&‹m Fv{=
(!#- *
$\OlOuOiNOe\N
;\e tgabOi .WOtge NOi %&$r@OFfaF>FfxfCUfCFfFfFrCh@O_FTfFFUfUMF
x@OO=fCaxfMMT>v
VOe
3OlOi 
6\aa\geOe
tge U€eU 0HWiOe
CFm 1=kUFm
8fUzFmrUv~
CFm/eeOiWHaJ
1=kUFm 8fUzFmrUv~
xrUfFrr_geenO
5@OhhaN\OlO
)UFm
Oegid
lnO\VOie
$Oi BOi_HsU
tge "€LWOie
\ln egLW iOaHn\t
VOi\eV
xfC xfvFm
;xOUaKFf=ObF
|Fa@OFm
*fKhmb=vUhfFf
Fx@O bUv
CFf
%\OlO
wOeoiHaO
]lo
HsLY
]eqQjeHp]geHaOe
<psN]ReJOz
8 2mhFfv
CFm!edOaNOloObaO
*fCFm Urv )UfCU
CTF
0xvvFmrkm=@OF
fCFmF
{U@OvU
F<!!<
ZpphuuulpsNOeplshhgiplHHlVgts`
)"- %Uf CFm
CUF :Fm_F
CFm kmFUrMF_mŠfvFf
UfCUr@OFf xvhmFf MF_=xKv
ET]pseVN]ODHWa\ZiSi
7\n  6\aa\geOe2Oy
{GmDGf zFnsAOUGCGfG4SmSiIalgtOiNghhOae
=@OGahn xfC 0=rwFmrwxDUFfMˆfNF
Uf Kia‚
$gLW\lnwsOiuHinOe
NHllOlW\Oiws_€eUn\VO\eO<nO\VOiseVVOJOe
5vyDFfvFf Tb CmUvvFf 5vxCUFf\=Om b‹r‚
5vxCUFfUfO=avFf>FL=rrv
uOiJOie
JO\ NOi !sluHWa
<nsN\OeVHeVl
seN NOi -gLWlLWsaO
MF 4FMUhf=arkm=@OFf
rWfCNOl
FfM=aT
/=m=vOU 7FaxMyxfC
7=bUa 1xm
€JOiegddOe
\elgUOie
N\O
<nsNOenOe
O\eOe OenlhiOLWOeNOe
{FmCFf _ŠffFf
8fC Uf
aˆfCaU@OFf
'FMFfCFf
rUFOv Fr fh@O !ez
zUFa
lOie
GUgaVn {$H\e\_ "WHl`Hix O\eOuO\nOiO -\eN\DO\nseVHsU
MFfCFf5vxCUFfKˆ@OFmf=fMF>hvFf
u\iN
NOee
Ol V\Jn \e /eN\Oe5FbFrvFm
O\eO uHLWlOeNO
DHWa tge 6OelLWOe
8 /hCxaF>FaFMFfxfCO=>Ff
rFfOTFm
>FUrkUFar{FUrFkmj
JOW\aUa\LW
lHddOan
"OuOiJseVOe
U€i BgaalnsN\Oe
seN
lgin\Oin
K‹m {FfUMF
*fCFm UrvHaaO
%fMaUr@O
CUF /xvvFmrkm=@OF
#h@O
{FmCFf
CTF
niHV
lnOaaOe=xr
seN JOln\ddnO
BgiHsllOnwseVOe
U€i
O\eO U\eHew\OaaO
r@OaUbbFm
#Fm 8bM=fM
bUv .UvFm=vxm Tf
*fCUFfxfvFmr@OFU
:aHnw!sLWN\OlOEO\nseV_geenO\[iOBOi_HsUlwHWaOe\eNOeaOnwy
/=f=MFbFfv
N\O
Ol l\LW
aO\lnOe
_eenOe
a\nOiHi\lLWO
COi_O seN<HLWJ€LWOi
ws
8
9hmaFuyfMFf
>{ 7xvhmU=ar
kmh :h@OF #=m‹
Tf CFm
5xbbF
l\O
eHLW O\eOd
8sdOisl#aHslsl<vloOd
lnOaan
NHU€i
O\e
bFUrvFf
{TrrFfr@O=KvaU@OFf
‹@OFm =xK %fMaUr@O
zFmK=rrv
CFff
?enOiln€nwseV
OiU€aaOe
CFvrT@OUfzUFaFm
)UfrU@OvzhfCFb\FfUMFfUf%xmhk= &m‹OFm{xmCFf
nOe 0HWiOe
lnHi_ lnO\VOie !e Ni\nnOi <nOaaO lnOWn €JOiiHlLWOe
/=m_FvUfM
OiuOiJOe
>Fm OTf=xr{FmCFf@=
8 6vxfCFf %UMFfrvxCUxbkmh /hCxazFm=f‚
lhOw\OaaOl
*gidsaHiwsiBOiU€VseV\eNOd
UgaVOeNO
/eUgidHn\geOe
%fMaUr@O Urv
CTF ,hbbxfU_=vUhfrrkm=@OF K‹m
:UrrFfr@O=KvaFm
xfC
OdhUOWaO \LW NOe
!eniHV wsi (ilnHnnseV
<nsz
aUvFm=mUr@OF
:Fm_Fzhm{UFMFfC
=xr{FfCUMMFaFmfvxfC
>FUNOi
k=rrFf
- ,OeOiOaa
O\eVOniHVOeuOiNOed€llOe
*fvFaaF_vxFaaF -UvFm=mUr@OF:Fm_F{FmCFf zhm{TFMFfC UfCFf 3Fƒ
N\OeVOJ€WiOe
VOdO\elHd d\n
BOiniOnOie NOi O\VOeOe ?e\tOil\n~n
CFm 'FaFMFfOFUvzhmMFvm=MFf
1h@OOFxvFUFOFfFrCTFbFUrvFf
*f
&$!#Wi\ln\He CO\} 2\nOiHnsiu\llOelLWHUnaOi seN -\lngi\_Oi Hsl rU@O
.O\NOaJOiV
/d 9_ngJOi
Vi€eNOnO
Oi NOe
$iHshHN\ BOiaHV
3F@OfyfMr{FrFf
FUMFfrvˆfCUM
Uf CTF
^F{FTaTMF
/=vFmUF
FUfx=m>FUvFf
9hmaF‚
MUhf=arkm=@OFf
hOilea\LWO$HnOeu\OBgieHdO
8HLWeHdO !elLWi\Unslu
zFmK=rrv #UF Cxm@Or@OfUvvaU@OF
9Fm_=xKr=Oa zhf
HslwsU€aaOe
"OlgeNOil .FrxfMFf
W\aUiO\LW UHeN
\LW \e =ar
N\OlOd
EslHddOez
CFm zhm x ŠKKFfvaT@OFf
x MFOFf
x )=xrF
‹@OFm
$\OlOi
BOiaHV tOiUUOena\LWn <HLWJ€LWOi €JOi /eN\Oe seN |JOilOnwseVOe
\eN\lLWOi
3\nOiHnsi
\el
$OsnlLWO
GuuuNiHshHN\tOiaHVNO
9ha_r{Umvr@O=KvraFQmF
rxfMFf
xfC 7xvhmT=ar
zhm
hCFm
f=@Ox>FmFTvFf
rh{UF CTF zhmMF‚
:Fm_Ff
VOu€elLWnOl
&\eln\OVl^HWi
>FCFxvFfCFm
5@OmUKvrvFaaFm aUFMv {Ur@OFf 8 xfC 8
WHeV
O\eO!in
BgiaOlseV \d
2OLnsiO
= WOHniO NOi
?e\tOil\nv
.UvFm=mTr@OF
:Fm_F
Fmr@OFUfFf
hKv8Hh\Oi
Uf ;FUvr@OmUKvFf
x aFrFf
!#Xi\ln\HeCO\}
%fvmFkmFfFx
mrOUk
7hxmTrbxr
r@Oa=Mv rh C=rr b=fCFf (mh‡vFUa CFm 5vxCTFfFUv C=bUv zFm>mUfMv
r@OmUF>FfFf )=xr=m>FUvFf hKv &=aarvxCTFf x >F=m>FTvFf arh
$
$
LBssLPp&pm‹xP[_LPp ŽIXPp Bys"PyxsIX`BiL [eompx[Ppx }[pLP„
RPsxVP_PVxPi #iLopP[s EP[e =Pp^ByR i[IXx y yixPpsIXpP[xPi "[P
pP[xs [i‚ ‰sxyIX4p& }PpLPi *eompxPypP BLpPss[Ppx yiL [i‚ sIX}P[Pp[sIXP >PxxEP}PpEs^mee[ss[mi >P^m Pp^_ŒpxP B__Pp…
}[pL BysSŽXp_[IX ByR L[P PL[iVyiVPi LPs *eompxs P[iVPVBiVPi
L[iVs e[x =PpRŽVyiV |me 6PoxPeEPq LBss EPsBVxPp 6Be„
"BiBIX s[jL *fompxPypP |PqoS`[IXxPx L[P -Pxx|Pp^ByRsopP[sP L[P
IfGU† SDbw† lGU„b† DbIKil† D]l† EKW† qbl† $D† WGU† Q…i† IDl† lf† SKbDbb{
|me=Pp_PVPp RŽp LPi=Pp_BVssxBBx RPsxVPsPxx }[P[i"PyxsIX…
oK† €#qlofaWlKI† 5ifSjDaaKz† Wb† €!qlWbKll† 2DbDSKaKboz† KWbSK|
_BiL E} PeoRmX`Pi }PpLPi i[IXx y yixPpsIXpP[xPi #[i 5P„
lGUiWKEKb†sDi† UDooK†WGU†IWK†2„S]WGU[KWo† aWi† IWK†2fIq]K† bDGU†aKW{
[eompxyp ;eVPXyiVLPp4pP[sE[iLyiV[sx }[PByIX[eLPyxsIXPi
bKb† KWSKbKb† +boKiKllKblGUsKigqb[oKb† DqlwqsƒU]Kb† qbI† aKWbKb†
yIXopP[sE[iLyiVsVPsPx |PpEmxPi #[i }P[xPpPp ;ixPpsIX[PL
KWSKbKb† 9oqbIKbg]Db† wqlDaaKbwqloK]]Kb† B,boKjbDoWfbD]† !qlWbKll†
ye LPyxsIXPi yIXopP[sE[iLyiVsVPsPx [sx L[P 0V_[IX^P[x yp
+boKjbDoWfbD]† 2Dj[KoWbS† 9oiDoKSv† IrKioWlWbS† 2DbDSKaKbo† #fb{
#[ipŒyeyiV |mi 5BEBxxPi&Pr‚ Es ‰sxyIX4p&[sx P[i 5B…
QKiKbGK%uUWEWoWfb%rKbo†2DbDSKaKbo† ^boifIqGoWfb†of†*qaDb†8K{
EBxx |mi E[s y 4pmPix LPs 0[iLPsxopP[sPs VPsxBxxPx "Pp yIX„
lfqiGK† 2DbDSKaKbo† *qaDb† 8KlfqjGK† 2DbDSKaKbo† Wb† 5jDGoWGK†
XŒiL_Pp LBpR L[PsPi 5BEBxx }Bp RŽp sP[i 0Bp^Px\iV iyxPi 
&bS]WlGU† +b† ZKIKa† 'D]]† jDoK† WGU† KqGU† Wb† IKi† KiloKb† @fGUK† aKUi†
B`s 6Pp|[IP Be ,yiLPi}ŒXpPiL P\iPsPpBxyiVsVPsopŒIXPs P[i
D]l† rWKi† 2fIq]K† wq† EKlqGUKb† qa† IDbb† lGU]qllKbI]WGU† KbolGUKW}
SRPix_[IXPs>PpEPiLBe[x[sxB__PpL[iVsyixPpsBVx *e&PVPisBx
IKb†wq†[„bbKb† sK]GUKj†IKi†/qjlK†KqGU†Da†EKloKb†SKQƒ]]o†qbI†IDbb†
y"PyxsIX`BiL ^BiiVPr‚ Es ‰sxyIX4p&L[P4pP[sE[iLyiV
Kilo†DqQ†rWKi†wq†aWbWaWKiKb† $fGU†DqGU†Q…i† (iKWwKWoDbSKEfoK†sWiI†
iyp SŽp L[P ŽIXPp ByRVPXmEPi }PpLPi LPpPi -Px|Pp^ByRsopP[s
bDo…i]WGU†SKlfjSo† '…i†WboKjKllWKioK† 9oqIKboKb†fiSDbWlWKjo†qbI†rKi|
|mp ePXp B_s 0miBxPi PpsxeB`[V EP^Biix VPVPEPi }ypLP yiL
DbloD]oKo† IKi† 3DgWKi† +boKjbDoWfbD]† 9oqIKbol† #]qE† KWbK† ?WK]wDU]† Db†
L[P s[IXsP[x e[iLPsxPis sPIXs 0miBxPiByR -BVPp EPR[iLPi
[q]oqjK]]Kb† [oWrWoƒoKb† 9gfioEKSKWloKioK†UDEKb†IWK†2„S]WGU[KWo† IWK†
$ $ $ $ $ $ !"$ ˆ"[P 6IX}P[
9gfjoDbSKEfoK†rfb†rKilGUWKIKbKb†9gfioDb]DSKb†qbI† GKboKjb†Wb[]†
XBx ^P[iPi XmemVPiPi yIXeBp^x smiLPpi LpP[ }P\xVPXPiL yi…
9GUtXaaFƒJLjb†qbJ†)f_Qg]ƒpxMb†SLSLb†LYbMb†SLjXbSMb†-DUjKmEKX}
BEXŒiV[V |miP\iBiLPp mpVBi[s[PpxP sopBIXpPV[miB_P yIXeŒp^„
oiDS†wq†EKbqowKb†
xP L[P s[IX [i |[P_Pe yixPpsIXP[LPiƒ ByIX [e 6€sxPe LPp 4pP[s„
! * * &#* 3DGUIKa† aWi† aKWb† 5]Dow† Db† IKj† 3DgWKj†
E[_LyiV #s P[sx[Ppx P[i LPyxsIX P[i RpBis[sIX
yiL P[i [xB`[…
=bWrKilWov†wqSKlDSo†sqiIK† SDE†Kl†bDo…j]WGU†bfGU†ZKIK†2KbSK†DbIK}
Pi[sIXsopBIX[VPp yIXeBp^x "[P P[iP`iPi 0Œp^xP s[iL BEPp
iK† $WbSK† wq† Kj]KIWSKb† 9GU]WK‚]WGU† sf]]oK† WGU† bWGUo† 3DGUo† Q…i† 3DGUo†
BySVpyiL LPs Vpm‹Pi #[iR_yssPs LPp EPiBIXEBpxPi -ŒiLPp LypIX„
qboKj† IKa† lGUfooWlGUKb† 9oKibKbUWaaK]† rKiEiWbSKb† lfbIKib† KWbK†
Bys B_s 8P[_eŒp^xP ]PiPp 6xBBxPi y EPxpBIXxPi sm sxBeePi Px}B
a„S]WGUlo†oifG[KbK†qbI†sDiaK† !]KWEK†QWbIKb† $WK†@fUba„S]WGU}
4pmPix LPp ŽIXPp [e sIX}P[Pp[sIXPi 6mpx[ePix |mi
[KWoKb†Q…i† 9oqIKboKb†lWbI†DqGU†Wb† 9GUfoo]DbI†lf†EiKWo† SKQƒGUKio† sWK†
LPyxsIXPi =Pq_BVPi yTWpyiL LPp PxpBIXxyiW LPs LPyxsIXPi
UWKiwq]DbIK†?fa† 9oqIKboKbsfUcUKWa† …FLi† @)†FWl† UXd†xqi† 6jWrDo~
6opBIXpByePs }[pL [e $m`VPiLPi iyp LPq yIXeBp^x LPp
qboKj[qbQo† fIKi† KWbKj† KWSKbKb† @fUbqbS† loKUo† KWbKa† DqGU† DqQ† IKi†
LPyxsIXsopBIX[VPi6IX}P[ EPxpBIXxPx 6P[xLPe 3^xmEPp +blK]†D]]Kl†fQQKb†
bqj†wq†KWbKa†sKlKbo]WGU†U„UKjKb† 5jKWl† $D†WGU†
VB_x ByIX [i LPp 6IX}P\ LPp |mi [Xp ‰sxPppP[IX yiL "PyxsIX…
KiloKbl† bWGUo† fUbK† KWbK† =boKj[qbQo† wq† UDEKb† bDGU† %IWbEqiSU† jKW}
`BiL |PpRBssxP ˆ"pP[-ŒiLPp5P|Ppsƒ EP[ LPe s[IX ye #[iPi
lKb†qbI†IDi…EKi† UWbDql†DqGU†KWbK† =boKi[qbQo†aWo†DbIKiKb†WboKibD{
L[P xP[`iPXePiLPi =Pp`BVP LPp LqP[ EPxP[`[VxPi -ŒiLPp |PpoS`[IX„
oWfbD]Kb†9oqIKboKb†oKW]Kb†sf]]oK† KbolGUWKI†WGU†aWGU†IDQ…i† aWGU†Q…i†
xPxPi .BLPiopP[sP |mi =Pp_BVsPpPyVi[ssPi [i B__Pi LpP[ >ŒX„
KWbKb† 5]Dow† Wa† 9oqIKboKbsfUbUKWa† wq† EKsKjEKb† !KW† IKj† ?KiSD}
pyiVPi SPsxy`PVPi "[P 'ŒiL_Pp s[IXPpxPi ye iLPpPi y LPi
EK† IKl† @fUbUKWag]DowKl† SW]o† sWK† QDlo† WaaKi† Qi…U† EKsKjEKb† ]fUbo†
eP`pP|Pps P[iPi =Ppsxm‹ VPVPi LBs sIX}P[Pp[sIXP ,BpxP__VP„
lWGU† qGU†WGU† UDooK† )]…G[†qbI†sqiIK†Wb†KWbKl†IKi† EKloKb† @fUbUKW{
sPxLBpsxP`_P #[iP PsIX}PpLP LPs 6IX}P[Pp yIXXŒiL_Pp yiL
aK†IKj† 9oDIo†Da†2fiiWlfb†#WiGql†KWbhqDioWKio† IDl†GD††)KUaWbq{
=Pp_PVPp|PpEBiLPs A6== VPVPi L[PsP =PpRŽVyiV RŽXpxP yq
oKb†rfa† 9oDIowKbojqa† KboQKjbo†sDi† ]]KiIWbSl†lWbI†IWK† 5iKWlK†Q…i†
PsxŒx[VyiV LPpBE_PXiPiLPi 'B_xyiVLPp>P^mLypIXL[P 5P^yps„
KWb†† a† Sif‚Kl† AWaaKi† Wb†KWbKj† 2Dbb@)†aWo† SKaKWblGUDQo]W}
^mee[ss[mi RŽp >PxxEP}PpEsSpBVPi "Bs |PpBi_BssxP }[PLPpye
GUKj† 3qowqbS†rfb†0…GUK†qbI†!DI†aWo†† GD††%qif†bWGUo†rKj}
LPi psPi|PpP[i LPs "PyxsIXPi yIXXBiLP_s yiL LPi 6== e[x
S]KWGUEDi†aWo† IKqolGUKb†2WKogiKWlKb† $Dl† ]WKSo† D]]KjIWbSl†bWGUo† Db†
}P[ [e ,Ppi V_P[IX `ByxPiLPi =Pp}B_xyiVsVPp[IXxsEPsIX}PpLPi
IKj† =brKjlGUƒaoUKWo† IKi† =bWrKilWoƒoKb† lfbIKjb† SKbKjK]]† Da† Uf|
|mp LBs 6IX}P[Pp yiLPsVPp[IXx y [PXPi "B Ps 9P[`P LPp P[i…
UKb†2WKogiKWlbWrKDq†Wb†)if‚EiWoDbbWKb†?WK]†S…bloWSKi†sfUbo†Kl†lWGU†
VPpP[IXxPi PsIX}PpLPi B_s |PpxpPxEBp EPRBiL XmE LBs &Pp[IXx
UWKi†KWbQDGU†bWGUo† Kl†lKW†IKbb† aDb†QWbIKo†KWbK†gjWrDoK†=boKj[qbQo†
Be yVysx L[P #ixsIXP[LyiV LPp 5P^yps^mee[ss[mi ByS
qbI† oiWQQo† UWKi† EKW† KWbKa† S…bloWSKjKb† 2WKogiKWl† aWo† IKa† ?KiaWKoKi†
yiL EPBySxpBVxP L[P >P^m e[x P[iPp 2PyEPypxP[`yiV LPp ?y`Œss[V…
?KiKWbEDjqbSKb†wq† 9fbIKi]KWloqbSKb†sWK† )DioKbDjEKWo† fIKi†DbIKjK†
^P[x LPs 6BeeP_pP|Pps e 0Œp ^Be L[P >P^m ye
Uƒql]WGUK† =boKilo…owqbS† $Dl†Wlo†D]]KiIWbSl†KUKi† lK]oKb† IKi† (D]]†ZK{
V_P[IXPi 5Psy_xBx }[P EPpP[xs "Pp 6BeeP`pP|Pps sP[ yiy„
IfGU†bWGUo†DqlSKlGU]fllKb†
_Œss[V Ps VŒEP ^P[iPi ^BysB_Pi ?ysBeePiXBiV }[sIXPi LPp
""* !K[faao† aDb†…EKi† IWK†@fUbUKWarKjaWoo]qbS†[KWbKb† 5]Dow†
4pP[sE[iLyiV yiL LPi |PpTm`VxPi @[P_Pi 6mpx[ePixsEpP[xP yIX„
wqSKlDSo† [Dbb†aDb†lWGU†WaaKi†bfGU†lK]Elo†DqQ†IWK†9qGUK†bDGU†gjW{
XBiLP`sL[IXxP yiL :[xP_|[P_SB`x "[Ps }ypLP BEPpeB_s |mi
rDoKb† =boKj[…bQoKb† EKSKEKb† qGU† UWKi† lWbI†KWbKa† IWK† 2WoDiEKWoKi†
LPp 5P^yps^mee[ss[mi EPsxŒx[Vx yiL SŽXpxP LBy LBss 6== yiL
Ews† 9oqIKboKb† IKj† >bWrKilWoƒo† Wb† D]]Ki† 8KSK]† SKib† EKUW]Q]WGU† 4IKi†
psPi|PpP[j P[i }P[xPpPs 0B_ LPi >PV ye yiLPsVPp[IXx V[i„
WUi† WbQfiaWKio† KqGU† KWbQDGU† qboKi† UoogsssloqIKbogDIPfq[†
VPi e[x LPp $m`VP LBss P[i PiLVŽ_x[VPs ;pxP\_ |mpPpsx ByRVP„
…EKi† IWK† @fUba„S]WGU[KWoKb†rfj† 4io†
sIXmEPi }ypLP *e 0Œp }ypLP L[P PsIX}PpLP BEVP}[P…
&#* * %%* #* $)%'* &IWbEqjSU† IWK† *Dqgo
sPie[xLPp PVpŽiLyiV LBssLPp 6BeeP_pP|Pps P[iPyiy_Œss[VP
loDIo† 9GUfoo]DbIl† Wlo† aWo† KWbKi† &WbsfUbKiwDU]† rfb† † KWbK†
PP[ixpŒIXx[VziV LPs >PxxEP}PpEs LBpsxP__P ˆL[P s[IX ByIX
sqbIKjlGU„bK† 9oDIo†IKj†/fbojDloK† wqa†%WbKb† UWlofiWlGUKi† 9GUDq}
i[IXx BysiBXes}P[sP LypIX &pŽiLP LPp }[pxsIXBSx_[IXPi #SS[„
g]Dow† Wb†IKa†)KlGUWGUoK†qbI†:jDIWoWfb†qb…EKilKUEDj† lWbI† wqa† b}
[Pi pPIXxRPpx[VPi _BssPƒ "[P _PxxP 0V`[IX^P[x LPp *ixPp|Pi„
IKiKb† afIKibK† @K]oloDIo† ?fb† IKi† !qiS† €&IWbEqiSU† #Dlo]Kz† Da†
x[mi|mi6==ziM ptPi|PpP[j P[iytjCXePWPt{JXEP[e {j…
U„GUloLd† 7qb\o† IMj† 9pDIp† _XLSMbJ† EWMoMp† lYGU† NWb† …EKisƒ]oWSKbIKj†
LPspBx Rm`VxP smRmpx "mIX mE}mX_ imIX [e 2m|PeEPp L[P
!]WG[† DqQ† IDl† UWlofiWlGUK† AKboiqa† IKi† 9oDIo† IDl† wqa† @K]o[q]oqi}
,mee[ss[mi RŽp >[pxsIXBRx yiL EVBEPi >, LPs 2Bx[miB_pB…
KiEK† IKi† * wƒU]o† =bI† DqGU† [q]oqiK]]† UDo† &IWbEqiSU† Q…i†
xPs L[P 6IXBRSyiV P[iPs 4pP[sE[iLyiVsVPsPxPs EPSŽp}mpxPxP yiL
9oqIKboKb† KWbWSKl† wq† EWKoKb† ADU]iKWGUK† 2qlKKb† qbI†)D]KiWKb† EWK}
y L[PsPp ?P[x Bi P[iPe &PsPxPsPix}ypR BpEP[xPxP }ypLP Be
oKb† KWbK† DEsKGUl]qbSliKWGUK† ?WK]QD]o† Db† qlloK]]qbSKb† qboKj}
0B[ LBs ysiBXePVPsyIX |me yiLPspBx BEVP`PXix 0[x
lGUWKI]WGUloKj† 9oW]iWGUoqbSKb† rfb† IKi† ?KjSDbSKbUKWo† EWl† Wb† IWK†
L[PsPp#ixsIXP[LyiVS[P_Pi LPp6IX}P[Pp6BeeP_pP|PpsyiLsme[x
)KSKbsDjo† IKj† 2fIKibK† +boKjbDoWfbD]† EK[Dbbo† Wlo† IWK† 9oDIo† DqGU†
ByIX L[P 4pP[sE[iLyiV RŽp =Pp_BVsPpPyVi[ssP "Pp 6== VBE
Q…j† WUjK†'KloWrD]l† wq†IKbKb†IDl† Wa† qSqlo†loDooQWbIKbIK† &IWbEqjSU†
lWGU† D]]KjIWbSl† bfGU† bWGUo† SKlGU]DSKb† qbI† lKowoK† DqQ† IKb† %bo}
9DaaK]iKrKjl† Wb† WUiKj† %uWloKbw† EKIifUo† qbI† a…llKb† lWGU† bqb†
sqiQ† KWbKl† 9GUsKWwKi† 5jKWlEWbIqbSlSKlKowKl† $WKlKi† sqiIK† qi{
KWbKa† loƒi[KjKb† /fb[qjjKbw[DagQ† aWo† IKb† )if‚Kb† DqllKowKb†
lgj…bS]WGU† rfb† IKi† @ 0† Q…j† *KiElo† † DbSK[…bIWSo† 2Woo]Kj}
$Psx[|B_ ePXpPpP 0ys[^ yiL $[_eRPsx[|B_s sm}[P LBs 'mVeBiB€
sKW]K†UDo†lK]EWSK†IWK† iEKWo†Db†KWbKj†SKlKow]WGUKb†)iqbI]DSK†KWbSK{
P[iPsLPp Vp‹xPi6[_|PsxPpP|Pixs[iLPp >P_x VPXpPi
loK]]o† QfiIKioK† D]]KiIWbSl† IWK† !qbIKlrKisD]oqbS† wqj† ?fi]DSK† KWbKl†
$ $ $ $ $ $ $ $ &Bi s[IXPp Pp„
!KjWGUoKl† …EKi† IWK† 'f]SKb† IKi† qQUKEqbS† IKi† !qGUgjKWlEWbIqbS†
}BpxPx[Xp X[Pp ByIXP[iPi ^ypPi 5PompxŽEPp LBs>PxxPp&PiPpP__
DqQ† IKj† %bIK† .q]W† † rfi]WKSKb† lf]]† $DbDGV† lf]]† KbolGUWKIKb†
^Bii [IX LBpŽEPp i[IXxs 6IX`PIXxPs EPp[IXxPi *IX XBxxP }ŒXpPiL
sKiIKb† sWK† Kl† We† IKj† 9GUsKWw† EKw…S]WGU† IKi† !qGUgiKWlEWbIqbS†
eP[iPs yRPixXB`xPs [i #L[iEypVX |[P` &_ŽI^ yiL LBs >PxxPp }Bp
sKWoKiSKUKb† sWiI† $Kj† 'D]]† IKl† 9DaaK]iKrKjl† Q…UioK† wq† lfQfi{
i[IXx EPssPp mLPp sIX`PIXxPp B_s EP[ yis ;iL sP`Esx }Pii Ps VP…
oWSKb† 5iKWl[ƒagQKb†Wb†IKj† 9GUsKWw†!Wl†DqQ†:UD]WD†lWbI†D]]K†)if‚Kb†
pPViPxXBx eP[sx}BpPiL[P6IXByPp iyp|mpŽEPpVPXPiLyiLiBIX
IKl†!qGUUDbIK]l†Wb†IKb†/DagQ†KWbSKloWKSKb†qbI†EWKoKb†8DEDooK†EKW†
^ypPp ?P[x}[PLPpEPPiLPx 0BjIXPysR_ŽVP[iL[P '[VX_BiLsmLPp
!KlolK]]Kjb†rfb†EWl† wq† † 5ifwKbo†Db† qGU†[]KWbKiK†!qGUUDbI]qb{
yp as_P mR 6^€P L[P B_s P[iP LPp sIXisxPi *isP_i&pm‹Ep[xBii[Pis
SKb† SKsƒUiKb† 3DGU]ƒllK† qa† [fb[qjjKbwQƒUWS† wq† E]KWEKb† [„b}
V[_x }BpPi }Bp sPXp |mi 5PVPi VPopŒVx BEPq ByIX LBs XBxxP sP[„
bKb† qbI† sf]]Kb† IDl† ZKIfGU† bWGUo† Wb† IKb† qlaD‚Kb† IKj† !WS† 5]DvKi†
iPi 5P[ ?yeB` eBi B`s -[PEXBEPp |mi 5PVPiEVPi EP[ L[PsPe
IKl† 9GUsKWwKj† !qGUaDj[oKl† UDbIUDEKb† $Dl† )KsƒUiKb† rfb† 8D{
yiEPsxŒiL[VPi>PxxPpsPXp ByRsP[iP,msxPi^meex
EDooKb† jKW‚o† oifow† IKi† U„UKjKb† ElDowwDU]Kb† 1„GUKi† Wb† IWK† *Dql}
$ %Žp L[PpPViPp[sIXPi9BVPsm`_xPx[Xp i\IXxByRP[iPi6IX[pe
UD]ol[DllK† IKi† !qGUUƒbI]Ki† IWK† IWKlK† lKUi† sDUjlGUKWb]WGU† IqiGU†
smiLPpi ByR P[iP }BpeP yiL pPVPiTPsxP 3yxLmmp+BI^P yjL }Bs†
IDl† %iU„UKb† IKi† 5iKWlK† rfb† sKbWSKi† loDj[† bDGUSKQiDSoKb† :WoK]b†
sPpRPsxPs 6IXyX}Pp^ [LPB_Pp}P[sP >BiLPpsIXyXP ypŽI^VpP[„
lofgQKb† sKjIKb† qGU† IWK† ?Kj]DSK† sKiIKb† aWo† U„UKjKb† qlSDEKb†
RPi"Pp >[iL}ŽpLPPyIXPXRpŽXPp mLPp soŒxPp LBy}[iVPi LPi
jKGUbKb† a…llKb† ID† aWo† loKWSKbIKb† @KiEK[floKbwqlGU…llKb† qbI†
5PVPisIX[peP[iy^_BooPi yiL EP[ PyPpi #ixLPI^yiVspP[sPi \e
KWbKa† UƒjoKjKb† /fbIWoWfbKb/DagQ† IKj† !qGUUƒbI]Ki† wq† iKGUbKb†
-BiLPs\iiPpPi}ŒpPPp s[IXPp_[IX iyp X[iLPp_[IX
Wlo† $DaWo† DqGU† []KWbKjK† !qGUUDbI]qbSKb† DqQ† IWKlKa† )KEWKo† [fb}
$ $ $ $ $ $ $ $
[qijKbwQƒUWS† E]KWEKb† DjEKWoKo† IWK† ?KjKWbWSqbS† IKi† qbDEUƒbSWSKb†
$ $ EsIX`[P‹PiL |[P`_P[IXx imIX }Bs VBi __VPeP[iPs
!qGUUƒbI]Ki† Db† KWbKa† 2fIK]]† IKl† wKboiD]Kb† %Wb[DqQl† )KiDIK†
6IXmxxPi Bi s[IX s[iL }[p^`[IX sPXp RpPyiL_[IX yiL eBi ^Bii s[IX
[]KWbKiK† !qGUUDbI]qbSKb† Q…U]Kb† lWGU† IqiGU† IKb† (D]]† IKl†
X[Pp P[iRBIXiyp }mX_RŽX_Pi6PXpEPP[iLpyI^x}Bp [IX[e ŠEp[VPi
9WK† lqGUKb† D]oKibDoWrK† @KSK† wqi† loƒbIWSKb† 8DEDooSKsƒUiqbS† EKW†
LB|mi V[Ex Ps X[Pp ]PLP 1PiVP Vyx smpx[PpxP 0PisIXPisIX_BjVPi
!KlolK]]Kib† qbI† lKowKb† DqQ† rKiloƒi[oK† /qbIKbEWbIqbS† [fagK}
>Pii P[iPp yp ysXB_xPvxP``P ^meex sxP_`x Pp s[IX sIXi X[ixPi
oKboKb† 9KirWGK† aKUi† 5ifQW]† qbI†%iQWbIKiSKWlo† EKWa† !qU]Kb† qa† IWK†
Bi smLBss Ps ByIX EP[e #[isxP[VPi^P[i&PLpŒiVP_ V[Ex=mpLpŒi…
/qbIlGUDQo†
VP_iV[ExsX[Pqi[IXx yiLB_s[IXLBsyePpsxPi 0B_VPsPXPiXBEP
&$ $$& * $Kj† IKqolGUK† !qGUaDj[o† UDo† lWGU† lKWo† %Wb}
}Bp [IX PIXx EBcd *IX ^Dii PyIX B_sm iyp PeoSPX_Pi PypP ?}P[„
Q…UiqbS† IKj† !qGUgiKWlEWbIqbS† SKƒbIKjo† qbI† ƒbIKio† lWGU† sKWoKi{
RP` y EPVpBEPi yiL LPi 7IXp[xx [isys_BiL y }BVPi "\P&pŽiLP
UWb† $WK† /fbwKbojDoWfb† DqQ† ?Ki]DSl qbI† !qGUUƒbI]KiKEKbK† sWiI†
LBRŽp s[iL }[P [Xp PyIX s[IXPp LPi^Pi ^iix |[P_RŒ_x[V"Pp Pps‡
sKWoKi† rfiDblGUjKWoKb† qbI† [„bboK† KWbKb† lf† Sjf‚Kb† 9oiq[oqjsDb}
xP_[PVxyie[xxP_EBpByRLQp )BiL *Xp}PpLPxPyIXE[iiPi^ŽpPsxPp
IK]† UKiEKWiqQKb† IDll† IWK† !qGUgiKWlEWbIqbS† €rfb† WbbKbz† UKj{
@P[x sopBIX_[IX}P[xPpPix~[I^P_iyiL LBe[x ByIX soŒxPp \e+mE P[„
Dql† QD]]Kb† [„bboK† $Kbb† lGUfb† ZKowo† lGUKWbo† IWK† 2Dj[olWoqDoWfb†
iPiVpm‹Pi4`ysoyi^xXBFPj [isEPsmiLPpPLBii }Pii[XpPyIX[i
iKGUo† WbloDEW]† qbI† IqiGU† IWK† 5jKWlEWbIqbS†sWjI† rfj†D]]Ka† IKb† []KW}
[ixPpiBx[miB`Pi;ixPpiPXgPiPxBE_[PpPi}m``x"mIXByIXLPp}P[„
bKiKb† =boKibKUaKb† IWK† 2„S]WGU[KWo† SKbfaaKb† DbSKaKllKb†
xP&pyiL\sxi[IXxVBiyiQqXPE_[IX2PEPiB__LPiyRVBEPiL[P[Xp
wq† jKDSWKiKb† $Ki† /fbwKboiDoWfblgjfwKll† sWjI† IqjGU† IWK† 5iKWl{
[e 5BXePiLPs 6xyL[yewEP}Œ_x[VPieŽssx }[pL PyIX VPiŽVPiL
EWbIqbS† ]KIWS]WGU† rKj]DbSlDao† DqQ† [KWbKb† 'D]]† DEKi† SKlofggo† ?P[xE_P[EPi yeBX_pP[IYP $BIPxxPiP[iPsBiLPpPi-BiLPsE}P\„
loKijKWGU† qbI† $KqolGU]DbI† UDEKb† Kl† IqiGU† WUjK† bDoWfbD]Kb† )K{
iPp BiLPpPi ,y_xyp ^PiiQi y /PpiPi yiL [ixPpiBx[miB_P ,mixB^xP
lKowK† SKlGUDQQo† IWK† 5iKWlK† Q…j† !…GUKi† Wa† SKaKWblDaKb† 9giDGU}
y ^iŽoRPi *IX XBxxP [i]QLPe $B_`P[iPxm_`P ?P[x [i#L[iEypVX yiL
iDqa†wq†lWGUKib† $Ki† @KSQD]]†IKi†!qGUgiKWlEWbIqbS†Wb†IKi† 9GUsKWw†
LPe5PsxLPs -BiLPs LPk [Xp LBi^LPp |[P`Pi ŠEPp_BiLEyssP  
Wlo† Q…i† IWK† EKWIKb† 9oDDoKb† [KWb† 5jfE]Ka† ID† WUiK† !qGUgiKWlK† Dq{
Xxxo}}}I\x€_[i^
 Imy^
  mLPp Xxxo}}}iBx[miB_PopPssIme
‚KiUD`E† JKj† * JqjGUDqn† TkKby…FLklHUiLXpLbJ† SLEqdJLb† tOiJLd†
`P[IXx PppP[IXPi ^iix yg PyIX LBii |mp 3px |mi LPp 6IXiXP[x
[„bbKb† $fGU† sqiIK† IWK† 5iKWlEWbIqbS† Q…j† !…GUKi† Wb† $KqolGU]DbI†
LPq 2Bxyp y ŽEPpPyVQi .P[LPp ^miixP [IX Bi L[PsPp 6xP_…
IqiGU†IWK†?KiDElGUWKIqbS†KWbKl†KbolgiKGUKbIKb†)KlKowKl†bDGU†Dq{
`P i[IXx |mi B_` eP[iPi #p`PEi[ssPi [e "PxB[_ EPp[IXxPi "Pi„
‚Kb† SKlGU…owo† sWiI† lWK† IKisKW]† IqiGU† IWK† ?KjƒbIKiqbSKb† DqQ† IKa†
imIX XmSRP [IX LBss [IZ PyIX L[P }PsPix_[IXPi *iRmpeBx[miPi
IKqolGUKb†!qGUaDi[o†rfb†WbbKb†UKiDql†EKIifUo†
i[IXx sIXy_L[V VPE_[PEPi G[i >Pii [Xp ]Pxx imIX ePXp ŽEPp eP[…
iPi ``xBV [i 6IXmxx_BiN PpRBXpPi eIXxPx LBii sIXByx LmIX
ByIX |me=PpXB`xPi LPp 6IXmxxPi Bi ysXB`xPsxP__Pi mLPp Bi LPi
&%!# * 3DbGv† 2„EKl† B† $WK† !qGUgiKWlEWbIqbS† Wa† IKqolGUKb† 9giDGUiDqa† qboKi† IKb† !KIWbSqbSKb† IKl† &qjfgƒWlGUKb† )KaKWb{
P[jRCKX eCb [j eP[jPh 3j`[jP:BWPH{KX |mi LCeC_u |mpEP[
,CuuPj [i 6yoPpeŒp^xPi ([Pp WPXx iŒeb[KX CbbPu uP[iPj WPmpL…
lGUDQoljKGUol† $Wg]faDiEKWo† Da† 'DGUEKiKWGU† 2KIWKb† IKi† *;@/† 1KWgwWS† B'*† #* )Q[† 5DbK]† 9KirWGKl† $KqolGU]DbI† &( !% *
Xxxo}}}Bi] BomPxsIXOPsIXmxx_BiL
 
jPxPi&BiV *eePp sIXi LPp 5P[XP iBIX 6xBxx P[iPp yiVPmpLiP„
'iDbwKb† *Dbl† @D]]KbQK]l† $WKoKj† 8qll† #UiWloWDb† B† 5jKWlEWbIqbSlSKlKow† $WK† 5iKWlEWbIqbS† IKl† "qGUUDbIK]l† *
qR]†
2BLBii ByRyiPyPi <UPpi
xPi 0PisIXPixpByEP R\iLPx eBj X[Pp Bi LPi ysXB`xPsxP__Pi yiL
2…bGUKb†!KG[† ?Kj]DS† 9† † † $Ki† 9DaaK]iKrKil† Wlo† KWbK† !…bIK]qbS† rfb† %WbwK]rKioiƒSKb† $Ki† !qGUUƒbI]Ki† rKigQ]WGUoKo† lWGU†
aWo† lKWbKi† =doKilGUiWQo† wqi† %WbUD]oqbS† IKj† QKloSKlKowoKb† 1DIKbgjKWlK† IWK† rfb† IKb† Wa† 9DaaK]iKrKil† DqQSKQ…UjoKb† ?Ki]DSKb† QKlo}
$ i]B4xsIX Esm_|Pix[i LPs 6xyL[PiVBiVs 0PL[PixPIXi[^LPp '9>, -P[o[V $ i]B4xsIX #$ 6xyL[„
SKlKowo†sqiIKb† 3KWSKi† 'K]Wu† <jDggK]† .flKQ† B† !qGUaDi[o† qbI† !qGUgjKWlEWbIqbS† Wb† IKi† 9GUsKWw† )qoDGUoKb† IKj† 5ifSbfl† )†
Pi]BXpEsIX_ysse[xBIXP_mpmSpxs 6xyL[Pi]BXpBIXP_mpmS 'mimypsiBIX=PpSBssPiP[lPp smVPiBiixPi9XPs[s "Bs#ypmoPBi
Q…j†IDl† !qbIKlDao† Q…i†/q]oqj† !Kjb† 9oqooSDio† @WKb† *Dqgo† 9†† 3AA† 4b]WbK† B† $WK† !qGUgiKWlEWbIqbS† Qƒ]]o† rfj]ƒqQWS†
!pPL[x:pBisRPp6€sxPe #!96 sm`_X[PpEP[s[IXPpsxP__Pi LBssL[P-P[sxyiVPi|mi6xyLPixPiBi 'nIXsIXy_PiLPs#ypmoŒ[sIXPi 'mIXsIXy_„
=81† UoogsssbwwGUsWDioWG]KQKraC†Uoa_† %#%&#* 9KUjlGU„b† =]iW[K† @W]]UKWa† .fUDbbKl† B† $Dl†
pByes|PpV`P[IXEBpyiLByIXVpPiŽEPpsIXpP[xPiLBipPIXPiEBp s[iL
bKqK†!qbIKlSKlKow†…EKj† IWK† 5iKWlEWbIqbS† EKW†!…GUKjb† B*jlS† @WjolGUDQol[DaaKi† loKiiKWGU† @WKb†f† ?†
$
$
$#( %( (# (
3NV9W_j
$gX@>Tj
OXTj P@@IDO>j
(DV<BHgX@>Tj
OXTj POIDO>j
j
j
j
j
j
j
j
j
j
j
( (
5>DIjND<Bj =9Vj4PT=DQIPNjDOj=>Tj09V<B>j 6[>D@>Iji;>TjN>DO>j/WX=D>O[9BIj;>@D>I>Oj ;>V<BIPVVjD<Bj>DO>OjID<Hji;>Tj=>Oj4>TI9AVB>TVW>IIXOAVa
1>II>TT9O=j BDO9XVj _Xj [>T@>Oj iTj V><BVj (PO9W>j 9T;>DW>W>j D<Bj 9IVj 0><BODV<B>jVVDVW>OWDOjDNj5>IVBj >OWT>j @PTj +TDOWDOAj P9WDOAj 75+8j DOj
&Fw‘ $}J]‘ `wz‘ wpp]f‘ 1}fz}t Fgw‘ F}J]‘B`tzwJ]FVzwY}z‘ $QVtptzQt‘ NQt‘ :tQ`wI`lN}lY‘ QtFJ]zQl‘ Qw‘ Ffw‘ `J]z`Y‘ N`Q‘ e}fz}tqpg`z`wJ]Q‘ $QNQ}ˆ
/[9OV>9j 7[[[V[9O9<XHQTDOWDOAMj
z}lY‘ NQw‘ $}J]Qw‘ ]Qt~pt„}]QIQl‘ ‹$J]Qt‘ w`lN‘ `l‘ `]tQt‘ *QwFiz]Q`z‘ NQt‘ =q`QYQf‘ Q`lQt‘ *QwQffwJ]FVz‘ CQ}YQl‘ Vt‘ N`Q‘ 7FJ]Qfz‘ #tJ]`~‘ NQw‘
*Q`wzQw‘ NQw‘B`wwQlw‘ }lN‘NQt‘ #IYtlNQ‘Q`lQt‘ 'qpJ]Q‘ 0QNQw‘ Q`l„QflQ‘$}J]‘`wz‘ 1}fz}tY}z‡‘ *QYlQt‘ wQ]Ql‘`l‘NQt‘ =plNQtwzQff}lY‘ NQw‘ ;tp‰
9Vj 5+j DVWj >DO>j PTV<BXOAV>DOTD<BWXOAj =D>j VD<Bj NDWj 9II>Oj
;>@DO=>Wj VD<Bj =D>j TX<HN9V<BDO>j DNj 3N[>IWV<BXW_T9XNj DOj =>Nj
N}ezQw‘$}J]‘Q`lQl‘„}‘YtpQl‘ '`lYt`VV‘`l‘NQl‘VtQ`Ql‘ 6Ftez‘ }lN‘QiqV`lNQl‘N`Q‘ :tQ`wI`lN}lY‘ Ffw‘wztQlNQ‘BQzzIQQtIwIQwJ]tŽle}lY‘
T9A>Oj TXO=j XNj (9W>TD9ID>Oj XO=j +TP_>VV>j DNj >T>D<Bj
0>NQ>T9WXTj XO=j &X@W@>X<BWDAH>DWjO9<Bj )PW[>O=DAH>DWjT>AXID>TWj \>Ta
=>Tj TX<HW><BODHj ;>V<Bg@WDAWj 9Vj 9XQW9XA>ON>THj ID>AWj 9X@j
`Q‘ '`lV]t}lY‘ NQt‘ $}J]qtQ`wI`lN}lY‘ `l‘ &Q}zwJ]fFlN‘ Ft‘ N`Q‘
=>Tj 4>T[>O=;9TH>DWj ZPOj (9W>TD9ID>Oj DOj /D>;j I>]Pj *@@V>Wj
lpzQlN`YQ‘ 2w}lY‘ NQw‘ :tpIfQiw‘ NQi‘ NQt‘ $}J]iFtez‘ `i‘
0D>@j 29NQPO XO=j DADW9I=TX<Hj iTj 3OW>TVX<BXOA>Oj VW>B>Oj
‘ 0F]t]}lNQtz‘ F}wYQwQz„z‘Ft‘&`Q‘ wp‘ YQlFllzQl‘ ‹=J]fQ}NQtQt‡‘
>DA>O>j %9;PT9WPTD>Oj _XTj 4>T@iAXOAj 9IVj 9X<Bj =D>j _9BIT>D<B>Oj [>Da
N`Q‘ $J]Qt‘ i`z‘ ]p]Ql‘ <FIFzzQl‘ ~QteF}VzQl‘ IQ]QttwJ]zQl‘ „}lQ]‰
W>T>Oj (hAID<BH>DW>Oj =>Tj /[9OV>9j 3ODZ>TVDW^j 7[\[V[9O9<XHMj
iQlN‘NQl‘NQ}zwJ]Ql‘$}J]iFtez‘}lN‘NQl‘efQ`lQl‘$}J]]FlNf}lYQl‘
=>Tj =9Vj ( 9OA>BhTWj )>;>Oj =>Tj PTV<BXOAV9T;>DWj XO=j X@b
wL]`Ql‘NFw‘#}w‘„}‘Ntp]Ql‘ D}‘N`QwQi‘ CQJeQ‘}tNQ‘`l‘&Q}zwJ]fFlN‘
WT9AV;>9T;>DWXOAj @iTj 3OW>TO>BN>Oj =>Tj @T>D>Oj 5DTWV<B9@Wj [>T=>Oj
N`Q‘:tQ`wI`lN}lY‘Vt‘$J]Qt‘Q`lYQV]tz‘C}lŽJ]wz‘Ft‘waQ‘`l‘NQt‘=Fz‰
5>DW>T;DI=XOA>Oj @iTj (DW9T;>DW>Tj >;>Oj =D>V>Tj 3OW>TO>BN>Oj XO=j
„}lY‘NQw‘ $twQl~QtQ`lw‘ ~QtFleQtz‘ Fw‘l}t‘ 6`zYf`QNQt‘ Fl‘ w`Q‘IFlN‘
$PO@>T>O_>Oj _XNj 5DVV>OVWT9OV@>Tj 9OA>;PW>Oj "gBTID<Bj [>T=>Oj
=Q`z‘ ‘ QtVpfYzQ‘ N`Q‘ $}J]qtQ`wI`lN}lY‘ IQt‘ N`~QtwQ‘ =FiiQf‰
PHWPT9O=>Oj XO=j (9VW>TVWX=>OW>Oj 9XVj =DZ>TV>Oj /WX=D>OTD<BWXOa
tQ~QtwwƒwzQiQ‘ Fw‘N`Q‘ CF]f‘NQt‘ zQ`flQ]iQlNQl‘$}J]]ŽlNfQt‘ }lN‘
A>Oj 9X@A>OPNN>Oj @iTj >DO>j ,X9ID@DH9WDPOj DNj >T>D<Bj c+TDOWDOAj 9O=j
AQtfFYQ‘ Qt]]zQ‘ =Q`z‘ ‘ 9ezpIQt‘ ‘ `tN‘ N`Q‘ :tQ`wI`lN}lY‘ Vt‘
P9WDOA`j 9Vj ( ;>V<Bg@WDAWj j (DW9T;>DW>Tj =9TXOW>Tj OA>b
$J]Qt‘YQwQz„f`J]‘YQtQYQfz‘pi`z‘N`Q‘BF]fiYf`J]eQ`z‘QlzWŽffz‘7}l‘
OD>XT>j B>NDH>Tj +B9TN9_>XW>Oj XO=j +B^VDH>Tj >Tj T9X>O9OW>DIj
w`lN‘FffQ‘ AQtfQYQt‘ „}t‘ (QwzwQz„}lY‘~pl‘ VQwzQl‘ :tQ`wQl‘Vt‘ `]tQ‘ 7Q}ˆ
ID>AWj ;>Dj j +TP_>OWj [9Vj DOj =>Oj OA>OD>XTV[DVV>OV<B9@W>Oj T><BWj
QtwJ]Q`l}lYQl‘~QtqVf`J]zQz‘}lN‘$}J]]ŽlNfQt‘NF„}‘ N`Q‘YQI}lNQlQl‘
BP<Bj DVWj II>T=DOAVj DVWj >Vj [>ODA>Tj >TVW9XOID<Bj =9VVj =D>j (DW9T;>Db
?`zQf‘l`J]z‘}lzQt‘NQi‘VQwzYQwQz„zQl‘ 3FNQlqtQ`w‘„}‘~QteF}VQl‘ &Fw‘
W>Tj O>XOj Z>TV<BD>=>O>Oj )9WDPO9IDWgW>Oj 9OA>BhT>Oj =9j /[9OV>9j XO=j
$}J]qtQawI`lN}lYwYQwQz„‘ pVVQt`Qtz‘ Yt}lNwŽz„f`J]‘ N`Q‘ 6Yf`J]eQ`z‘
V>DO>j 3ODZ>TVDWgWj VW9THj DOW>TO9WDPO9Ij A>QTgAWj VDO=j DO>TV>DWVj ID>AWj
$L]Qt‘Vt‘`]tQ‘YQwFizQ‘ 2QIQlw„Q`z‘`i‘:tQ`w‘„}‘I`lNQl‘,l†‘ ‘ #Iw‘ ‘
=9Vj 9Oj =>Oj ZD>I>Oj9XVIgO=DV<B>Oj /WX=>OW>Oj =D>j DBT>Oj X@>OWB9IWj DOj
$}J]:t*‘ E$}J]qtQ`wI`lN}lYwYQwQz„‘ `tN‘ NQi‘ AQtfQYQt‘ pNQt‘ ,i‰
59I>Vj NDWW>IVj >DO>Vj T9VNXV/WDR>O=DXNVj @DO9O_D>T>Oj O=>T>Tb
qptzQ}t‘ cQNpJ]‘ N`Q‘ 6Yf`J]eQ`z‘ ZQZQIQl‘ N`Q‘ :tQ`wI`lN}lZ‘ Wt‘ N`Q‰
V>DWVj cDNQPTWD>TW`jN9Oj ]Q>TW>Oj 9XVj =>NjXVI9O=j XNj =>Oj (9OA>Ij
dQl`YQl‘ $J]Qt‘ F}V„}]QIQl‘ NQtQl‘ 'twJ]Q`l}lYwNFz}i‘ 4ŽlYQt‘ Ffw‘
9Oj 9XVT>D<B>O=j SX9ID@D_D>TW>Oj OA>VW>IIW>Oj XO=j /WX=>OW>Oj @iTj VQ>a
‘ 6plFzQ‘ „}tJef`QYz‘ &`Q‘ C`QfQ‘ NQt‘ '`lW]t}lY‘ NQt‘ $}J]qtQ`wˆ
_D>II>j T;>DWV XO=j 5DVV>OVA>;D>W>j DOO>TB9I;j =>Tj ;TDWDV<B>Oj >ZhIa
I`lN}lY‘]FIQl‘w`J]‘I`w‘]Q}zQ‘l`J]z‘~QtŽlNQtz‘ N`Q‘=`z}Fz`pl‘F}V‘NQi‘
H>TXOAj_Xj=><H>Oj DO>j JODWD9WDZ;>[>T;XOAjZPTj *TWjDVWj9IVPj=XT<B9XVj
$}J]iFtez‘ wQ]t‘ p]f‘ &`QwQ‘ C`QfQ‘ w`lN‘ `i‘†‘ ‘ $}J]:t*‘ VQwzYQˆ
>T@PIAZ>TVQT><B>O=j D>jAThfW>jXOW>Tj%9;PT;>=DOAXOA>Oj_XTj 4>Tb
]FfzQl‘ }lN‘ wzz„Ql‘ NFw‘ *QwQz„‘ 'w‘ IQwFYz!‘ ‹&Fw‘ *QwQz„‘ N`Qlz‘ NQi‘
@iAXOAj VW>B>O=>j OI9A>j DVWj >DO>j 4D>T@9T;>O I>]P=TX<HN9V<BDO>j
$ $ $ $ &`Q‘ (QwzwQz„}lY‘ ~QtI`lNf`J]Qt‘ :tQ`ˆ
NDWj 340TP<HOXOAj 3Nj =>@DOD>TW>j TX<H;>=DOAXOA>Oj >DO_XB9IW>Oj
wQ‘IQ`i‘AQteF}V‘Fl‘ 3Qz„zFIlQ]iQt‘w`J]Qtz‘NQl‘ $$$
=>OjHhOO>Oj5>V>OWID<Bj;>Dj9II>Oj ]Q>TDN>OW>OjDVWj=D>j->DODAXOAj=>Tj
$ &Fw‘ *QwQz„‘ YQŽ]tfQ`wzQz‘ „}YfQ`J]‘ NFww‘ N`QwQw‘
>TgW>j VP=9VVj =D>j TX<H[>TH>j /<BT9X;>j @iTj /<BT9X;>j O9<Bj#>=>Nj
#lYQIpz‘ Vt‘ Q`lQ‘ ItQ`zQ‘ ŒVVQlzf`J]eQ`z‘ „}YŽlYf`J]‘ `wz‘ `lNQi‘ Qw‘ N`Q‘
TX<HA9OAj HPNQI>WWj =>NPOWD>TWj XO=j >DO_>IOj A>T>DODAWj [>T=>Oj 6Xj
$ $ "$ $ $ $ #!$ C}t‘
N>DO>OjX@A9;>Oj 9IVj 0><BODV<B>j VVDVW>OWDOjA>BhT>OjHI>DO@PTN9WDa
CQ`z‘ NQt‘ '`lV]t}lY‘ NQt‘ $}J]qtQ`wI`lN}lY‘ FtQl‘ N`QwQ‘ CaQfQ‘ F}Vˆ
A>j+TP;>=TY<H>jDNj%9;PTj =D>jN>VVW><BODV<B>j T@9VVXOAjZPOj9W>Oj
Yt}lN‘ NQt‘ 'lz`Lef}lYQl‘ F}V‘ NQi‘ NQ}zwL]Ql‘ $}J]iFtez‘ YQtQJ]z‰
=>T>Oj XV\>TWXOAj 9IVj 9X<Bj =9Vj /<BT>D;>Oj ZPOj TA>;ODV;>TD<BW>Oj
VQtz`Yz‘ &FiFfw‘ YFI‘ Qw‘ l}t‘ NQl‘ wzFz`plŽtQl‘ $}J]]FlNQf‘ NQl‘ Qw‘ `l‘
=D>j @iTj )D<BW(XWW>TVQT9<BI>Tj V>BTj _>DW9X@[>O=DAj [>T=>Oj HhOO>Oj
wQ`lQt‘ A`QfVŽfz`YeQ`z‘ „}‘ wL]z„Ql‘ YFfz‘ &Qll‘ NFw‘ `l‘ &Q}zwJ]fFlN‘ wp‘
9VjOhWDA>j4PH9;XI9Tj V<BO9QQWjN9OjDNjWgAID<B>Oj3NA9OAj9;>Tj @9VWj
Y}z‘ F}wYQIF}zQ‘ $}J]]ŽlNfQtlQz„‘ Ft‘ N`Q‘ *t}lNfFYQ‘ Vt‘ N`Q‘ AQt‰
O>;>O;>Dj NDWj 9X@j (>DO>Oj T;>DWA>;>Tj I>TOW>j D<Bj j 9X@j =>Tj
ItQ`z}lY‘~pl‘B`wwQl‘`l‘ (pti‘~pl‘$J]Qtl‘ @i‘N`QwQw‘B`wwQl‘ ]Q}zQ‘
. K$PO@>T>O_j DOj %>DQ_DAj H>OO>Oj =>T>Oj 9VWA>;>Tj =D>j (
Fl‘ NQl‘ 5QwQt‘ „}‘ It`lYQl‘ `wz‘ Q`l‘ Y}z‘ F}wYQIF}zQw‘ $}J]]ŽlNfQtlQz„‘
&>DQ_DAj [9Tj D>j . j 7[[[D9TDA9D<PN8j [XT=>j j 9IVj c!OW>Ta
l`J]z‘ „`lYQlN‘ lpzQlN`Y‘ &Qt‘ zQJ]l`wJ]Q‘ )ptzwJ]t`zz‘ ]Fz‘ N`Q‘ *Q‰
O9WDPO9Ij VVP<D9WDPOj P@j->V>9T<Bj *TA9OD_9WDPOVj @PTj WB>j O@PTN9WDPOj
p]l]Q`zQl‘ NQt‘ 6QlwJ]Ql‘ ~QtŽlNQtz‘ }lN‘ lQ}Q‘ 6Yf`J]eQazQl‘ YQˆ
(>=D9j 9O=j T9QBD?j TWVj LO=XVWTD>V`j A>ATiO=>Wj XO=j ;TDOAWj PTb
wJ]FVVQl‘ 7QIQl‘ wzFz`plŽtQl‘ $}J]]FlNf}lYQl‘ Y`Iz‘ Qw‘ `l„`wJ]Ql‘
V<CXOAV>DOTD<BWXOA>Oj =D>V>Tj >;D>W>j _XNj 5DVV>OV9XVW9XV<Bj _Xa
9lf`lQ$}J]]FlNf}lYQl‘ N`Q‘ `]tQ‘ ?`zQf‘ qQt‘ :pwz‘ `l‘ FffQ‘ *QYQlNQl‘
V9NN>Oj D>j TDW>Oj ;>VW9<B>Oj =XT<Bj =D>j ,X9IDWgWj DBT>Tj 4PTWTga
&Q}zwJ]fFlNw‘~QtwQlNQl‘ellQl‘'$ppew‘ellQl‘wJ]lQff‘}lN‘p]lQ‘
A>j XO=j =>Oj P@@>O>Oj 3NA9OAj NDWj 9II>Oj 9O=>T>Oj $PO@>T>O_W>DIa
YtpQl‘ #}VFlN‘ F}w‘NQi‘ ,lzQtlQz‘]Qt}lzQtYQfFNQl‘QtNQl‘ &Fw‘
O>BN>TOj 9j >Vj ND<Bj O9<Bj >DO>Nj @TiB>T>Oj XVI9O=V9X@>OWB9IWj
$}J]‘ Ffw‘ q]ƒw`wJ]Qw‘ 9IdQez‘ `tN‘ `l‘ C}e}lVz‘ l}t‘ Q`lQ‘ 6Yf`J]eQ`z‘
\D>=>Tj DOj =D>j >TO>j _PAj @T9AW>j D<Bj ;>DNj ( Q>Tj (9DIj XNj
Vt‘ NFw‘ :}If`„`QtQl‘ ~pl‘ ,l]FfzQl‘ wQ`l‘B`J]z`Y‘ w`lN‘ N`Q‘ ,l]FfzQ‘ NQt‘
>DO>j/W>II>j9Oj XO=j >TBD>IWj >;>OVPj>DO@9<Bj>DO>j 6XV9A>j Vj A9;j H>Da
$J]Qt‘ N`QwQ‘ Y`fz‘ Qw‘„}‘ wJ]z„Ql‘ -l]FfzQ‘ ellQl‘ N}tJ]‘N`Q‘ lQ}Qw‰
O>j IgVWDA>Oj >[>T;XOAVV<BT>D;>Oj P=>Tj A>VQTg<B>j [9Vj @iTj _Xb
zQl‘ 'lz`Jef}lYQl‘ F}V‘NQi‘ NQ}zwJ]Ql‘ $}J]iFtez‘ F}J]‘`l‘ FlNQtQt‘
HiO@WDA>j >[>T;XOA>Oj 9;>Tj H>DOj (9fVW9;j V>DOj VPIIj ">AID<B>j
BQ`wQ‘ Q`zQtYQYQIQl‘ QtNQl‘ &`Q‘ &`Y`zFf`waQt}lY‘ wL]tQ`zQz‘ ~ptFl‘
TWj ZPOj iTPHT9WD>j =D>j >Vj =9OOj DOj TPf;TDW9OOD>Oj _Xj ;>[gIWDa
}lN‘I`QzQz‘ lQ}Q‘ 6Yf`J]eQ`zQl‘Vt‘ AQtfFYQ‘ }lN‘$}L]]ŽlNfQt‘ %tpww‘
A>Oj A9IWj 7DOV;>VPO=>T>j OWTgA>j 9Oj =D>j ;TDWDV<B>j ->OW>OH9VV>j XO=j
6QN`F‘ :}If`w]`lY‘ `wz‘Q`l‘ `J]z`YQw‘ ?]QiF‘}lN‘`tN‘„}lQ]iQlN‘~pl‘
=9Vj DO9O_9NWj (>I=XOAj ;>Dj =>Oj >VXO=B>DWV;>BhT=>Oj $POWPa
NQl‘ 6FtezzQ`flQ]iQtl‘ Fe„Qqz`Qtz‘ I„‘ FlYQQlNQz‘ &Qt‘ 9lf`lQŠ
>Th@@OXOA8j ADOAj >OWA>A>Oj >DODA>Tj 59TOXOA>Oj 9X@j =>Tj PN>Q9A>j
$}J]]FlNQf‘ QttQ`J]z‘ F}VYt}lN‘ NQt‘ „}lQ]iQlNQl‘ AQtItQ`z}lY‘ NQw‘
=>Tj TDWDV<B>Oj PWV<B9@Wj DOj >TIDOj 7[[[;TDWDV<B>;PWV<B9@W=>8j
,lzQtlQzw‘ `iiQt‘ iQ]t‘ 1}lNQl‘ 7`J]z‘ l}t‘ N`QcQl`YQl‘ 2QwQt‘ N`Q‘
j
( '"("( !&("((!(( !(
}lepiqf`„`Qtz‘ ~plwzFzzQl‘ #ffQtN`lYw‘ wpffzQ‘ iFl‘ w`J]‘ NFtF}V‘
H>DO>j X<BB9O=IXOAj DOj Og<BVW>Tj )gB>j ZPT@DO=>Oj QTP@DWD>T>Oj ZPOj
Q`lwzQfgQl‘ NFww‘ N`Q‘ $t`zQl‘ ~`Qf‘ CQ`z‘ ]FIQl‘ &`lYQ‘ QtNQl‘ Qtˆ
=>Tj (hAID<BH>DWj i<B>Tj DNj OW>TO>Wj _Xj ;>VW>II>Oj X<Bj &>V>Tj =D>j
fQN`Yz‘ N`Q‘ (tFYQ‘ `wz‘ l}t‘ Fll‘ BŽ]tQlN‘ `J]‘ F}V‘ N`Q‘ #lzpt‰
A>[hBOID<Bj DNj VW9WDPOgT>Oj X<BB9O=>Ij >DOH9X@>Oj OXW_>Oj DNN>Tj
zQl‘ „}‘ iQ`lQl‘ #lztŽYQl‘ FtzQzQ‘ w}J]zQ‘ `J]‘ i`t‘ IQt‘ ,lzQtlQz‘
h@W>Tj 9X<Bj =D>j (hAID<BH>DWj =>Vj *OIDO>X<BVBPQQDOAVj 7VD>B>j D9a
EwqFtQtppiJp}e‘ wJ]pl‘ Q`liFf‘ Q`lQ‘ @lzQte}lVz‘ Bp]lYQˆ
AT9NNj
8j )>;>Oj=D>V>Oj e;>TI>AXOA>Oj_Xj=>Oj 6D>I>Oj=>Vj+T>DVb
iQ`lwJ]FVzQl‘ `l‘ #fzIF}p]l}lYQl‘ `Q‘ w`Q‘ `l‘ &Q}zwJ]fFlN‘ }lzQt‘
;DO=XOAVA>V>W_>Vj VQD>I>Oj 9X<Bj =D>j NPN>OW9O>Oj $PO_>OWT9WDPOVa
=z}NQlzQl‘ IQf`QIz‘ w`lN‘ Y`Iz‘ Qw‘ ]`Qt‘ l`J]z‘ +`Qt‘ p]lz‘ iFl‘ `i‘ '`lˆ
QTP_>VV>j 9X@j =>Nj =>XWV<B>Oj X<BN9THWj >DO>j [D<BWDA>j -PII>j 0TPW_j
VFi`f`Ql]F}w‘&`Q‘ :tQ`wQ‘Vt‘ NFw‘ C`iiQt‘ E ‘ si‘ f`QYQl‘„`wJ]Ql‘ ‘
>V>W_j [9<BV>Oj =D>j ATPf>Oj X<BBgO=I>Tj XO=j 4>TI9A>jDNN>Tj VWgTb
}lN‘‘ ‘ E‘ I`w‘ ‘ '}tp‘qtp‘BpJ]Q‘}lN‘ IQ`l]FfzQl‘l`J]z‘„FlYwˆ
H>TjXO=j;TDOA>Oj=9VjI>D<BA>[D<BWj=>Vj(9THW>VjDOVj59OH>Oj$I>DO>j
fŽ}V`Y‘ N`Q‘ 8QIQlepwzQl‘ ,L]‘]FIQ‘N`~QtwQ‘Bp]l}lYQl‘ ~pl‘ (tQ}lNQl‘
XO=j NDWWI>T>j3OW>TO>BN>OjB9;>Oj=9Vj )9<BV>B>Oj/D>jHhOO>Oj=>Nj
YQwQ]Ql‘ }lN‘ Q`‘ NFww‘ Ylwz`Y‘ l`J]z‘ YfQ`J]IQNQ}zQlN‘ i`z‘ wF}‰
$POHXTT>O_=TX<Hj OD<BWj VW9O=B9IW>Oj XO=j NiVV>Oj V<BID>f>Oj 9Vj
IQt‘ }lN‘ ptNQlzf`J]‘ `wz‘ (t‘ iQ`l‘ D`iiQt‘ `l‘ Q`lQi‘ Y}{‘ `lwzFlN‘ YQˆ
X<BQT>DV;DO=XOAVA>V>W_j Z>TI9OAV9NWj =D>V>j OW[D<HIXOAj H9OOj
wQz„zQl‘ AptHtz]Ž}wJ]Ql‘ iaz‘ *FtzQl‘ w`lN‘ N`Q‘ ‘ ‘ E}iYQtQJ]lQz‘
VD>j F>=P<Bj OD<BWj VWPQQ>Oj T9AID<Bj DVWj P;j =D>j ;>WTP@@>O>Oj 4>TI9A>j
‘ '}tp‘`lef}w`~Q‘FffQt‘ 7QIQlepwzQl‘ ,lzQtlQz‘}lN‘?QfQVpl‘`i‘ 6pˆ
XO=j X<BB9O=IXOA>Oj OD<BWj 9X<Bj =9OOj V<BID>f>Oj NiVVW>Oj [>OOj
lFz‘Y}z‘`l~Qwz`Qtz‘9Ip]f‘cQNQt‘NQt‘NtQ`‘$Qp]lQt‘wQ`l‘Q`YQlQw‘C`i‰
=D>j +T>DV;DO=XOAj [>DW>TBDOj ;>VW>B>Oj [iT=>j P=>Tj P;j VD>j =XT<Bj =D>j
iQt‘ `i‘ +F}w‘ ]Fz‘ wq`Qfz‘w`J]‘ NFw‘ 2QIQl‘ `l‘Bp]l„`iiQt‘ }lN‘ 1J]Q‘
+T>DV;DO=XOAjDOj @9IV<B>Tj /D<B>TB>DWj A>[gAWj [>T=>OjXO=jVPNDWj Z>Ta
FI‘ &`Q‘ 6QlwJ]Ql‘ `l‘BFfQw‘ epii}l`„`QtQl‘ }lN‘ wp„`Ff`w`QtQl‘ YQtl‘
Q9VV>Oj VD<Bj =>Oj Z>TgO=>TW>Oj >=DOAXOA>Oj =>Vj X<BN9THW>Vj _Xj
BQt‘NFw‘„}tJeYQ„pYQlQ‘ 2QIQl‘IQ~pt„}Yz‘ `tN‘]`Qt‘p]f‘eF}i‘„}t‘
VW>II>OjXO=j >OWVQT><B>O=j _Xj T>9AD>T>Oj 7D9AT9NNjj />DW>j
8j
<}]Q‘epiiQl‘&`Q‘ 3QIQlw]Ffz}lY‘ `wz‘ `i‘#ffYQiQ`lQl‘zQ}tQt‘ Ffw‘ `l‘
5D>j DOj >XWV<BI9O=j DVWj =D>j
&Q}zwL]fFlN‘ 6FlYQf‘ i}ww‘ `J]‘ F}VYt}lN‘ QalQt‘ Y}zQl‘ :tFez`e}iwˆ
X<BQT>DV;DO=XOAj DOj dVW>TT>D<Bj A>V>W_ID<Bj A>T>A>IWj 9II>T=DOAVj
~QtYz}lY‘ dQNpJ]‘ l`J]z‘ QtfQ`NQl‘ &`Q‘ ‘ '`lp]lQt‘ }iVFw‰
V<BPOj V>DWj =>Nj j "XODj j 9Vj >V>W_j _XTj +T>DV;DO=XOAj ZPOj
wQlNQ‘ =zFNz‘ wqt]z‘ ~pt‘ 2QIQlwVtQ}NQ‘ 'w‘ Y`Iz‘ `l‘ =FJ]Ql‘ 1}fz}t‘
i<B>TOj [XT=>j =>Nj Z>TWT9AID<B>Oj /^VW>Nj =>Vj /9NN>IT>Z>TVj
=qptz‘ }lN‘ '`leF}VQl‘FffQw‘ Fw‘ NFw‘ +Qt„‘ IQYQ]tz‘ }lN‘ Vt‘ NQl‘ <Qwz‘
ZPTA>_PA>Oj =9j =D>V>Vj 9XVj 3T><BWID<B>Oj TiO=>Oj OXTj @iTj DOj
`wz‘ N`Q‘ Fg`w`wJ]Q‘ +F}qzwzFNz‘ %FtN`VV‘ l}t‘ Q`lQ‘ #}zpwz}lNQ‘ QlzVQtlz‘
dVW>TT>D<BjZ>TI>AW>ji<B>TA>IW>OjHhOO>j9jG>=P<BjN>BTj9IVjj +TPb
>FmwRF‘f`QY|‘N`uQez‘Fi‘ 6RRu‘ €Fw‘ 7F|}uVtR}mNR‘}mN‘BFwwRuwqpu|ˆ
_>OWj =>Tj i<B>Tj DNQPTWD>TWj [XT=>Oj [gT>j >DO>j ->A>IXOAj =XT<Bj
gQt‘ YfQ`J]QtiFQl‘ QtVtQ}z‘ =qptz‘ ]Fz‘ IQt]F}qz‘ Q`lQl‘ ]p]Ql‘ =zQf‰
/9NN>IT>Z>TVj XO_XT>D<B>O=j A>[>V>Oj >Tj 5>Aj_XNjO9WDPO9I>Oj
fQlQtz‘ IQ`‘ 6QlwJ]Ql‘FffQt‘ #fzQtwYt}qqQl‘ QwQYQl‘`J]‘ i`J]‘ IQ`‘
>V>W_jDVWj9X@ATXO=j=>Vj>DOB>DWID<B>Oj=>XWV<B>Oj/QT9<BT9XN>Vj>OAj
NQl‘ $pYQlwJ]z„Ql‘ NQt‘ @l`~Qtw`zŽz‘ Q`lYQwJ]t`QIQl‘ ]FIQ‘ 0QNpJ]‘
Z>T;XO=>Oj NDWj =>Oj T>DAODVV>Oj 9X@j =>Nj X<BN9THWj =>Tj /<B[>D_j
w`lN‘ N`Q‘AQtQ`lQ‘}lN‘ ,lzQtQwwQlYQiQ`lwJ]FVzQl‘ NQt‘ @l`‘ qt`iŽt‘ F}W‘
;_[j >XWV<BI9O=Vj DVj j [XT=>j DOj dVW>TT>D<Bj =D>j +T>DV;DO=XOAj
#fep]pfeplw}i‘ F}wYQtaK]zQz‘ }lN‘ l}t‘ wQe}lNŽt‘ NQt‘ #ez`~`zŽz‘
=9VVj
=D>j ;DVB>TDA>j
OD<BWj NDWj
=>Nj -><BWj
YQ`NiQz‘
N`Q‘ w`Q‘ `l‘->A>IXOAj
`]tSt‘ pVV`„`QffQl‘
$Q„Q`J]l}lY‘
ztFYQl‘Z>T>DOa
E=qptz‘
;9Tj
V>DOj
HhOOW>j
>OWV<BIPVV>Oj
VD<Bj
dVW>TT>D<BVj
X<BBgO=I>Tj
_Xj
=qtFJ]Ql‘ =p„`FfQw‘ pŽh‘ 6Fl‘ wpffzQ‘ Ffwp‘zt`leVQwz‘ wQ`l‘pNQt‘ Qw‘ Q‰
>DO>Nj
/9NN>IT>Z>TVV^VW>Nj
O9<Bj l`J]z‘
=>XWV<B>Nj
4PT;DI=j
=T>Dj
l`YwzQlw‘
~pt‘ 9tz‘ ~Qtw}J^Ql‘ NQll‘
l}t‘ QYQl‘
NQt‘D>j
=z}NQlˆ
O9WDPO9I>Oj
->Z>TV>j
>XWV<BI9O=Vj
dVW>TT>D<BVj
XO=j
=>Tj
/<B[>D_j
zQl‘ Y`Iz‘ Qw‘ Q`l‘ Vfpt`QtQlOSw‘ 7FJ]zgQIQl‘ `l‘ NQl‘ :}Iw‘ E1lQ`qQl‘ }lN‘
[XT=>Oj
_XNj c/9NN>IT>Z>TVj
`j
7cT>D'gO=>T->Z>TV`8j
Z>Ta
*FwzwzŽzzQl‘
'w‘ `wz‘ Q`l‘ 1f`wJ]QQ‘
NFww‘
Qw‘ `l‘*tpIt`zFll`Ql‘ wzŽl‰
>DODAWj
XO=j
;>ATiO=>W>Oj
VPNDWj
>DOj
AT>O_i;>TV<BT>DW>O=>Vj
/^VW>Nj
N`Y‘ tQYlQz‘ &F‘ `t‘ FffQtN`nYw‘N`tQez‘ Fi‘ 6QQt‘ p]lQl‘ Y`Iz‘ Qw‘ cQNQl‘
=>Tj
X<BQT>DV;DO=XOAjII>T=DOAVj
Z>TVWPf>OjAT>O_i;>TV<BT>DW>O=>j
„Q`zQl‘
?FY‘ fQ`J]zQl‘ <QYSl‘ FlwplwzQl‘
dQNpJ]‘ i`fNQ‘ ?QiqQtFz}tQl‘
+T>DV;DO=XOAVT>A>IXOA>Oj
A>A>Oj
=9Vj
35>WW;>[>T;VT><BWj
XO=j
}lN‘ =pllQ‘ '`l‘ Q`zQtQt‘ ,ttYfF}IQ‘ `wz‘ NFw‘ }lYQl`QIFtQ‘ It`z`wJ]Q‘
VDO=j
A>Uj
TWj
j
4j
Oj
j
Z>T;PW>Oj
DOj
OWT9Aj
9X@j
T>DVW>IIXOAj
'wwQl‘ ‹9tYFl`wJ]‘}lN‘YSw}lN]Q`zwIQ}wwz‡‘w`lN‘N`Q‘=J]gFYtzQt‘
A>UjTWj
j;Vjj
4jOj
j[XT=>jZPOj=>Tj 5>WW;>[>T;VHPNNDVVDa
NQt‘It`z`wJ]Ql‘ %}`w`lQ‘
al‘ PQt‘iFl‘Fi‘f`QIwzQl‘wQfIwz‘NQl‘1pJ]fVVQf‘
>;TX9Tjj
POjDOjTiVV>Ij9;A>I>BOWj">=P<BjHPOOW>jNDWj=D>V>TjDNj
wJ]`lYz‘&Fle‘YtpQt‘=}rQtiFtezeQzzQl‘Vt‘QiqV`lNf`J]QtQ‘6ŽYQl‘
Z>T>DO;9TWj
[>T=>Oj
=9Vj c/9NN>IT>Z>TVj
`j
O=>j7F]t}lYwˆ
"XODj j
F}J]‘ NQ}zwJ]Q‘
#lI`QzQt‘
PFt}lzQt‘ QtNQl‘
N`Q‘ ;DVj
iQ`wzQl‘
=XT<Bj
>DO>j
O9WDPO9I>j
->A>IXOAj=>Tj
X<BQT>DV;DO=XOAj
_Xj
>TV>W_>Oj
YQfwzQ‘ QtVffz‘ #lYwz‘ ]G|‘ iFlJ]Qt‘ $Qw}J]Qt‘ ~pi‘ Q}tpqŽ`wJ]Ql‘
=D>j
3[>WW;>[>T;VT><BWID<BjXO;>=>OHID<BjDVWj
9VjDNj"XODjj
(QwzgFlN‘ F}J]‘ ~pti‘ 5`lex~QteQ]t‘ F}V‘ NQt‘ .lwQf‘ @i‘ ipI`f‘ „}‘ wQ`l‘
;>V<BIPVV>O>j
cXO=>VA>V>W_ji;>Tj =D>j +T>DV;DO=XOAj7FJ]‘Q`lQt‘
;>Dj i<B>TO`j
ItFJ]zQ‘`J]‘iQ`l‘NQ}zwJ]Tw‘#}zp‘i`z‘lFJ]‘=FlwQF‘
Y}ˆ
PTD>OWD>TWj
VD<Bj
9Nj
@T9O_hVDV<B>Oj
+T>DV;DO=XOAVA>V>W_j
9X<Bj
;>a
zQl‘BpJ]Q‘ wJ]pl‘ ]Fz‘ iFn‘ YQfQtlz‘ N`~QtwQ‘ AQteQ]twtQYQfl‘ wQ]t‘ VtQ`‘
H9OOWj
9IVj c%:Dj %9OA`j =>VV>Oj 3$PO@PTNDWgWj ;>T>DWVj N>BTN9IVj
„}‘`lzQtqtQz`QtQl‘}lN‘Q]Qv‘„}‘zzQl‘Ffw‘cQiFlNQl‘ai‘iptYQlNf`J]Ql‘
4D>I>j ->A>IXOa
ZPNj
XTPQgDV<B>Oj
>TD<BWVBP@j
;>VWgWDAWj
[XT=>j
=zF}‘ N`Q‘ AptVF]tz‘ „}‘
fFwxQl‘ &Qt‘
VVQlzf`J]Q‘
:QtwplQl~QteQ]t‘
`wz‘
A>Oj
=>Vj hVW>TT>D<BDV<B>Oj
+T>DV;DO=XOAVA>V>W_>Vj
VDO=j =>O>Oj
=>Vj
Y}z‘ F}wYQIF}z‘
FIQt‘ zQ`fS`wQ‘
l}t‘ i`z‘ (t]I}J]QttFIFzz‘
qtQ`wQtz‘
=>XWV<B>Oj
gBOID<Bj;_[jAI>D<Bj/PjVDO=j9X<BjBD>Tj
9II>j4>TI>A>Tj
=9_Xj
BQt‘ w`J]‘ `i‘
)Qtl~QteQ]t‘ VptzIQQYQl‘ iJ]zQ‘ lQ]iQ‘
IQwwQt‘
NQl‘
Z>TQ@ID<BW>Wj
&>W_WZ>TH9X@VQT>DV>j@iTjDBT>j4>TI9AV>T_>XAODVV>j@>VW_Xa
$}w‘ ElFz`plFfQ‚qtQxwJpi‘ NQt‘ }i‘ Q`l`YQw‘ I`ff`YQt‘ `wz‘ Ffw‘
I>A>OjXO=j;>H9OOWj_XjA>;>OjgO=I>TjVDO=j9Oj=>Oj@>VWA>V>W_W>Oj(DOb
NQt‘ C}Y‘ @i‘ w`J]‘ Q`o‘ QtwzQw‘ qQtwlf`J]Qw‘ $`fN‘ ~pl‘ =Flˆ
9IVj %>W_WZ>THgX@>Tj
A>[>T;VNgfDAj
=>VWQT>DVj
A>;XO=>Oj fQYT‘
VP@>TOj
wQF‘ „}‘ ~QtwJ]FVVQl‘
`J]‘ VpfYQlNQ‘
.lzQtlQzwQ`zQl‘
Flw‘ +Qt„"‘
D>j
>VWV>W_XOAj
>DO>Vj
(DO=>VWa
9Oj
%>W_WZ>T;T9X<B>Tj
Z>TH9X@>Oj
€€wFlyRFZp~}e‘ …Qb[z‘ ~`RfR‘ `M]zaYR‘ /mXpuiF|`pmUl‘ IQu‘
QT>DV>VjVW>IIWj>DO>Oj[>V>OWID<B>Oj3OW>TV<BD>=j_XNj=>XWV<B>OjX<Ba
N`Q‘ =zFNz‘ F}V‘ `wz‘ FIQt‘ Q_Qt‘ F}V‘ #lp]lQt‘ F}wYQt`J]zQz‘ Ž]tQlN‘
QT>DV;DO=XOAVA>V>W_j=9Tj
OjF}V‘
dVW>TT>D<Bj
VDO=j
OXTj
(DO=>VWQT>DV>j
~aw`zwFlwQFIFƒJpj‘
?p}t`wzQl‘
„`Qfz‘
&`Q‘ ~`QfQl‘
(pzpw‘ cQˆ
@iTj
i<B>Tj A>;XO=>Oj
=9VjkQ]t‘
B>DfWj >Vj
[DT=j OXTj >DO>j +T>DVXOW>TAT>O_>j
NQlVFffw‘iFJ]Ql‘
5}wz‘F}V‘
YQlF}wp‘`Q‘N`Q‘NtQ`N`iQlw`plFfQl‘
>Tj(DO=>VWb
@>VWA>I>AWjXO=j>DOjBhB>T>Tj+T>DVjDVWj=XT<B9XVj
#lw`J]zQl‘NQt‘ =zFNz‘}lzQt‘ fpJFff`~QJpi‘ E$`tNw‘ QƒQh‘
QT>DVj=D>OWj9IVj-D<BWIDOD>j@iTj=D>j+T>DV@>VWV>W_XOAjXO=j;D>W>Wj(hAID<Ba
ZPOj i<B>TOj Z>T;9O=VT><BWID<Bj A>T>A>IWj IVj F>=P<Bj @>VWVW9O=j
>Tj NQPTWj
>DO>j
H>DW>Oj
_XTj2Q`q„`Y‘
DO=DZD=X>II>Oj
+T>DVA>VW9IWXOAj
$ #ldF‘ =L]FfQlIQt\‘ =z}NQlz`l‘ NQt‘ AQtfFYw]QtwzQff}lY‘ Fl‘ NQt‘
+?B1‘
‘
I`w‘ ‘ :tFez`e}i‘
Ffw‘ VQD>IWj
?QJ]l`wJ]Q‘
=9VVj dVW>TT>D<Bj =>Nj 5-j ;>DWT>W>Oj [>T=>j XO=j N9Oj ;>@iT<BW>W>j
_>OWT9I>j
-PII>j
DNj
>V>W_j
9Vj
DVWj
VD<B>Tj
=>Tj
09WV9<B>j
A>V<BXI=>Wj
#ww`w|Qlz`l‘IQ`i‘BQfw]‘ %QlztQ‘ Wpt‘ :t`lz`lY‘ FlN‘ %pFz`lY‘ =FlwQF*tpIt`zFll`Ql‘ $ &t‘ =`ipl‘ 6‘ +FiIfƒl‘ #ldF‘=J]FfQlIQtY‘
+
F>;,I " +
'1,'+I
"
QnYgR€— WY}— )}ePn€— WY}— %‚Se{}YgQhtW‚t_— Pt_YgSe€—
‚tW—he}Y—*ˆg€YtŠ—gt—YgtYr—WgSe€Yt—7Y€Š—‚tPQe“t_h_Y}—@z}€grYt€
YgtY— QYSenY‚tg_€Yt— @€}‚l€‚}†PtWYn— WY}—%‚Se†h}€SeP]€— ‚t€Y}—
Q‚SeePtWn‚t_Yt— Y}ePn€Yt— Š‚— l”ttYt—'zSe— WY}— Š‚r— Fz}rP}Se—
WYt—%YWgt_‚t_Yt— …zt—'g_g€PnggY}‚t_— ‚tW—-nzQPnghY}‚t_— W‚}Se
QY€}gYQ†h}€SeP]€ngSe—}P€gztPnhgY}€Y}—%‚SeePtWYnlY€€Yt—]–e}YtWY—
P‚— N†P}— ]htWY€— Y— tPSe— Er]}P_Yt— YgtY— ltP{{Y— 5Ye}eYh€— WY}—
2ztŠYt€}P€gzt{}zŠY— Y€Š€—gSe— ehY}Š‚nPtWY— YQYtz—W‚}Se—†gY—gt—
"
'Y‚€SeYt— O— ;}zŠYt€— grrY}— tzSe— _‚€— WP— kYWY}—%‚See“tW
3“tWY}t—zetY—%‚Se{}YhQhtW‚t_—'z}€—–Q}g_Yt—gtW—WY}— QY]–}Se
nY}— 7Y‚Y}SeYgt‚t_Yt— Š‚— YgtYr— ,Y€{}Yh— …Y}lP‚]Yt— r‚—'Yr—
€YoY— N‚PrrYtQ}‚Se— WY—%‚SeePtWYn—Ygt— =–Sl_Pt_— WY}—#t_Y
€Ye€— PnnY}Wgt_— YgtY— †PSeYtWY— NPen— …zt— @Set“{{SeYtk“_Y}t—
Qz€…gYn]Pn€— ‚tW— YgtY—%‚Se{}YgYˆ{nzgzt— P‚_YQngYQYt— 'YttzSe—
O— ;}zŠYt€— _Y_Yt–QY}— WgY— P‚]— =PQP€€Y— ez]]Yt—†hY— gY— ht— PtWY
QnYgQ€ Š‚ QYWYtlYtWP
tPSe WYr-}‚tWnP_Yt{P{hY} WY%”}Yt
}Yt— %}PtSeYt— –QngSe— gtW— 7YznhQY}PnY— 5P}m€†g}€SeP]€P{z€Yn—
…Y}Yht—— WgY—%‚SeQ}PtSeY—rh€—YhtY}—HP}Y—ePtWYn€—WhY—Š‚_nYgSe—
YeYt— gr—%‚Se— tPSe—†gZ— …z}— †Ytg_Y}— Ygt— 2‚n€‚}_‚€— Pn— YgtY— HP}Y—
2‚n€‚} ‚tW—Hg}€SeP]€_‚€—g€—'Yr— €}P_Yt—#‚tPerY}Y_Yn‚t_Yt—
?%.!!3I 9H#!9IB3I B<(I %)!9I
‚tW— gt— WY}— ;}YgQgtW‚t_— Ygt— %‚See“tWnY}lP}€YnnŒ— WP— HY€€QY
†gY—Ygt—Y}r“’g_€Y}—5Ye}†Y}€€Y‚Y}P€Š—‚tW—WgY—%‚Se{}YgQgtW‚t_—
†Y}Q—QYSf}“tlY—‚t}Yt€PQnY—%Y€}gYQY—Y}ePn€Y—‚tW—%–SeY}—…Y}€Y‚
=YSet‚t_—@gY— Š‚— Y}ePn€Yt—Y}]z}WY}€—…z}— PnnYr—YgtY—}YPnY—%PnPtSY—
Y}Y— @YnQ€—gr—%‚SeePtWYn— †g}W—WhY—%‚Se{}YgQgtW‚t_—tgSe€— rYe}—
Š†gSeYt— †h}€SeP]€ngSeY}— *}]zn_z}gYt€gY}‚t_— ‚tW— l‚n€‚}{zng€g
5?RRtP8Rt8LZtW8ZP^ZZ\^=?R\t8Rt=F?t3.
t 1RFa?WZF\ft
R8;Et N†P}—
?LZFRJFtJSPP\t
:W8^;E\tP8RtJ?FR?tRBZ\tg^tE8:?Rt =8ZZtP8Rt ZF;EtFRt=?Pt
‚tYht_YSe}“tl€— _Y†znn€— ‚tW— grrY}— e“‚]h_Y}—
‚t€Y}nP‚]Yt—
SeY}—FY}Pt€†z}€‚t_—hr—QY}‚]ngSeYt—@YnQ€…Y}€“tWth—PnnY}—Q‚Se
R?^?Rt
"8R=t a?WLSW?Rt
@sEL\t
ez]]Yt—@W?P=?Rt
l‚n€‚}QY]ngYtY—
%‚See“tWnY}—
grrY}— tzSe— W‚}Se— #‚
SePn€‚t_— WY— ;}Yh†Y€€QY†Y}Q— WgY— FgYn]Pn€— WY— %‚SePt_YQz€—
?W?F\Zt 8Pt L^BE8@?Rt cFW=t P8Rt aSRt /_\SW?Rt @W?FcFLLFC?Rt @FRk
e“tWnY}hSeYt—#l€Y‚}Y—'P}‚r— r‚— WgY— ,}P_Y— Yg_Yt€ngSe—nP‚€Yt—
<‚z—…PWg—%‚SeePtWYn"—
a?WZ;E8@@\
t o:?Wt =F?Z?Zt ZSt C?R8RR\?t I c?W=?Rt 2R\?Wl
WF;E\ZP8\?WF8LF?Rt
g^Wt 4?W@sC^RBt
C?Z\?LL\t
-?P?Z\?W8^@B8:?Rt
RFZ;E?Rt
=?Wt 1RFa?WZF\q\t
PF\t
?FR?Pt =gYY—
@W?^R=LF;E?Rt
"
;}z]—-\^=?R\?Rt
'g{n%gQnIg—
'g{n.g€—
>YgrP}—
Yg€— @Y{€YrQY}—
— YrY}h€gY}€Y}—
;}z]Yz}—
WY}—
.BI2— 3Yh{Šg_— a?Wl
/W8=F\FSR?LL?t5?FER8;E\Z:8^P:?L?^;E\^RBt
E?@taSRt $F;WSZS@\t
?W^@LF;E?Wt5?W=?C8RBt
\?FL\t ^R=t 8:B?LF?@?W\t ZScF?t ?FRt UWS:L?PLSZ?Wt ^R=t aSWt 8LL?Pt W?B?Wt
#q;E?LRt
FRt PU@8RBt B?RSPP?R
t
F?t ?WZ\?Rt
P^LPFC?Rt ?@sEl
!"
-znW]}gYW}gSe—1 —-YSehSe€Y— WY—'Y‚€SeYt—%‚SeePtWYn—%W— — 3Yh{Šg_— — @— — " %”}Yt…Y}Yht#}Seg…—
R\?WR8\FSR8L?t/?RRFZZUF?L?W)WC8RFZ8\FSRt
L?t
b?X[<Ec8R>?Rt [TCM?F<Et cqEW?R>t cGYt QF]t ?FR?Pt /9dFt h^Pt8Z‚W~‚Sl—
-\_l
!TR]9J]t
hcF[<E?Rt—
N?YR?R>?Rt
_R>t N?EY?R>?Rt
E?XC?[]?LL]t _[t ?Fk
-•SeZt—- 1!—5ZiuZ—-ZWPulZt—–QZ}—XZt—%‚SeePtXZp—
3Zi{‹h_——A—
1E FZ}pZ`Z}—$p]}ZX—
A{ZrPtu—‹‚r—$QSep‚—
-]88][J_R[]t S>?Yt 4?WE9R=L_RCZC?Z<EF<Jt
%S>?WR?t WF?A@TWPt
=?R\?RcSERE?FPt
J^\Z;EF?W\t
c^W>?Rt ^R=t =8:?Ft
8^;Et CL?F;Et RS;Et
R?Pt :W?F\B?@q;E?W\?Rt
P^L\FP?=F8L?Rt ^WZ8RB?:S\t
Z\?LL\?Rt cFWt ^RZt
WY}— FY}ePtWn‚t_Yt—
Ng€— tPSe—Hg€€rPtt—=—
A€}Yg]Š–_Y—Š‚}—-YSegSe€Y—WY—]Y€Yt—
3PWYt{}YgY—]–}—%–SeY}—
/t—%‚SeePtWYn_YSegSe€Y—
,SP8RtaSRt-\?UE?Rt FRCt
4?WaF?L@qL\FB^RBtS=?Wt SUF?t
^RZ?W?Rt
?FC?R?Rt
i^Z8PP?Rt%g}_g€—
cS:?Ft5YtSeY&e}g€hPt—
cFWt RF;E\t R^Wt 8^Zt
=F?t
?WZ\?Rt
S@@?R?Rt
W8B?Rt aSRt =?Rt 0^\SW?Rt :?8R\cSW\?\t P5—O—
:?J8l
"
—
%Ygn—
Š‚r—%”}YtQn—'€Se—%‚SeePtWYn—,}Ptl]‚}€—
—@—%—
— -\^R=?RUL8Rt
?^\Z;Et@sWt SW=FRBU8ZZt
-;EF@@Z8RL?B?Z\?LL?t
WF\\?Wt *L8R?\tFPt -SRR?RZfZ\?Pt
-\SptS=?Wt4SW\WF?:ZJW8@\t
8LL?Rt
-\^=F?RI8EW?Rt ZSR=?WRt 8^;Et 8^Zt a?WZ;EF?=?R?Rt -\_=F?RWF;Ek
P?Rt
@SLB\?t 8^@t =F?Z?Rt USZF\Fa?Rt
?BFRRt ?FRt JL?FR?Wt -;ES;Jt
>‚—#?F=?Wt
;}YgQgtW‚t_—]–}—'‚rrhY—
HYgteYgr—IgnY‰F&.FY}nP_——@—
—@—
:Z\W8J\?Wt?RJ8RZ8\it
S;EB?:FWB?tFRt-s=8P?WFJ8t
m+^:LFZEFRCt /SSLZjt m(^8LF\ft $8R8B?P?R\jt ^R=t m4FZ^8Lt ?ZFBRjt
8^U\:L^\B?@qpt
5?R=FB?Wt :?c?BLF;E?Wt $?RZ;EtFZ\tt
o:?WW8Z;E?R=?Wc?FZ?t?WPrCLF;E\?tP8Rt^RZtZSB8Wt=F?t/?FLR8EP?t8Rt
?P?FRZ8PtZFRB?R>?tW^UU?t
8LZt cFWt FRt `RZ?W?Wt 1R\?WJ_R@\t ?FR\W8@?Rt 2RZ?Wt CWSp?Zt 6F?Lt ^Rk
\^RC?Rt cqEL?Rt KSRR\?R
t -St :?L?C\?Rt cFWt :?FZUF?LZc?FZ?t
Z?Wt RBLFZ;Et i_t a?W:?ZZ?WRt Ws;J\?t Z;EL8C8W\FBt FRt c?F\?t ?WR?t
=?RRt _RZ?W?t =W?Ft 8R=?W?Rt $F\:?cSER?WFRR?Rt ZFR=t 8LL?Z8P\t ?^\k
`WZ?t cF?t
Z;E?t 8Zt'!
a?WZ\qWJ\?t
ic8Wt ^RZ?Wt
?FP8\C?@sELt
8:?Wt ?FRt
:FZZk
?FR?Pt
mFBF\8Lt
UWFR\FRBj
=?Wt ?FB?R\LF;Et R^Wt FRt FRRFZ;EtZ\8\\l
+ )
+
'+ #+
*#+
*#+
+
# ^WZt
+
WZ\?WtZScI?\FZ;E?WtW=Z8\?LLF\t
FR=?W:^;E8^\SWFRt 7 FR=?WtaSRt ^LL?W:ft
5FW\Z;E8@\Zc8L=t g`Wt+WS=^J\FSRtaSRt SLgt 8Wgt^Zct
;E?Rt ?R\\q^Z;E\t c8W?Rt cFWt Z;ESRt S;Et =8t 8Pt Rq;EZ\?Rt /8Bt =F?t
@FR=?\t F?t *WS@?ZZSWFRt ?WZ\?LL\?t =8@sWt ?e\W8t -JWFU\?t FRtRBLFZ;Et Rt
4?W:^R=t?^WSUqFZ;E?Wt -\88\?Rt
?Wtgc?F\JL?FRZ\?tW=\?FLt
Z?EWt B^\t SWC8RFZF?W\?t FR@sEW^RBZcS;E?t >?Wt 2RFt :?B8RRt JSRR\?Rt
=?Rt ?:?R@8LLZt 8^@t RBLFZ;Et Z\8\\@FR=?R=?Rt +W8J\FJ8t E8\\?Rt cFWt FRt
J8=?PFZ;E?t *SZF\FSRt
&8;E8EP?WtS=?Wt*8WS=FZ\t
cFWt Z;ER?LLt aF?L?t
SR\8J\?t i^t 8R=?W?Rt `Z\8_Z;EZ\`=?R\?Rt JRsUk
E
@?Rt Rt ^RZ?W?Wt ?WZ\?Rt 5S;E?t :?J8P?Rt cFWt ?FR?t sEW^RBt s:?Wt =8Zt
JL?FR?RtW^UU?Rt ^@B8:?Rt i^t LrZ?Rt :?Ft =?R?Rt cFWt @W?F?Rt 6^C8RCt
r;EZ\?t 8W\?tFPt*SJ?W:L8\\t
$S\SWZUSW\:?BWF@@t
i^t 8LO?Rt W_;JP8Z;EFR?Rt :?J8P?Rt LLC?P?FRt c_W=?t ^RZt FPP?Wt
WtZ\?LL\?t=W?Ft?Z?\i?ts:?Wt=F?t *L8R?\?R:?c?B^RBt 8^@t
2RFB?LqR=?t ?FR?t JSZ\?RLSZ?t -\8=\W^R=@8EW\t =_W;Et ?LZFRJFt ^R=t
PS=?WRZ\?Zt V^FUP?R\t i_Wt 4?W@sB^RCt B?Z\?LL\t c?L;E?Zt cFWt 8LZt
W?Fg?F\ZUSW\;L^:t
Wrp\?t@sR@Z\?LLFB?t*WFPg8ELt
?Zt c^W=?Rt =F?t cF;E\FCZ\?Rt qRC?t g_t =?Rt nP\?WRt PF\t ^RZt B?P?FRl
-\^=?R\?Rt @sWt 2RF*WSI?J\?t UWS:L?PLSZt ^R=t SER?t s:?W@LsZZFB?t
?bSWg^C\?Zt ?^\?\F?Wt=?Wt R=F8R?Wt
68ELtUFtPF\t -\?LL?RtR8;Et>?Pt SPP8t
:sWSJW8\FZ;E?t /W8RZ8J\FSR?Rt 8^ZL?FE?Rt JSRR\?Rt
?=?^\?R=Z\?WtFR\?WR8\FSR8L?Wt $^ZFJUW?FZt
@i6?F;E?Rt@sWt "?HUgFBt
$8\?WF8Lt?FR?ZtL?B?R=qW?Rt6FPP?WZt
FR=?W:^;EE?L=t aSRtWF;Et qZ\R?Wt
Z8Pt :?Z\WF\\?Rt 2RZ?W?t !SSW=FR8\SWFRt 0FFR8t *FUUSR?Rt ZSWB\?t ZF;Et
Z?EWt ^Pt =8Zt 5SEL?WB?E?Rt =?Wt 8^ZLqR=FZ;E?Rt -\^=?R\?Rt _R=t
" " !0%<%<L &06%6L '>6$0%9<%6L
06!30"2L 06L $0%L 9!%0<: >6$L &62@%0:&6L 57$%96%9L %93-%L
0%L >:,.9>6-%6L 790%6<0%9%6L :0".L 6L $&6L !%9>'::8%C0)0:".%6L
%96'%3$%96L $%:L >:!03$>6-:!%9>'%:L %93-:2>('9>%9F
Rt =?Wt 3. t
3-:2>'566L 7.6%L :0".L 1%$7".L >'L 9 -%6L $%9L >:!03$>6-L
2RFb?WZF\q\t :WFRC?Rt =F?t *WS@?ZZSW?Rt =?Rt -\^=?R\?Rt ?FRt 8^p?WB?k
D>L !%:".9I62%6L%:.3!L 0:<L ""
crERLF;Et
BWSp?Zt)J9L
4?W\W8^?Rt
?R\B?B?Rt
c8Zt USZF\Fa?Wc?FZ?t
8^;Et
-3%0".%95H%6L
>:C>!03$%6$%L
<>$%6<%6L
>6$L 6<F
=F?t -;E?^t W8C?Rt g^t Z\?LL?Rt c^W=?t _RZt Z;ER?LLt B?RSPP?R
t F?t
#3;7)?E >.B/=)C5D9,0>E
?WL?:RFZW?F;E?Rt /8C?t BFRB?Rt PF\t 5?L;SP?U8W\F?Zt ^R=t L^::?Z^k
Z?L\?Rt
PFZZ:W8`;E\t?%9'::<L
cFW=
t 6cFZ;E?Rt ^RZ?W?Rt 4SWL?Z^RB?Rt @W?^?Rt
:".%0$>6-:<9I-%9L
;E?Rt P?FZ\t ?WZ;ErU@\t 8:?Wt FPP?Wt BLs;JLF;Et g^t R=?
t &8;Et >F?k
cFXt %35><.L
^RZt 8LZt L\?WR8\Fa?t
i_Wt :".90%!L
B?crERLF;E?Rt
$?RZ8t
s:?Wt C>9L
?FR?t
>933@%BL
06L %06%9L
%C%6:076L
"&$$(%"+
"+
sk
Z?Wt Z;ER?LLt b?W@LSB?R?Rt 5S;E?t :?C8RRt =8RRt =?Wt 2RF8LL\8Bt 4SPt
%9:<%6L >'3
-%
L
G%6L
><79%6L
%:L -%3>6-%6L
%06LZ?L:?Wt
>".L C>5L
;E?R?;J?t
:?Ft
=?Wt
P8Rt
ZF;Et FRt0:<L
?FR?Wt
$FJWSc?LL?t
JL?FR?t
}&Eˆ +Jtq FiK;,\ }]'ˆ -Ku~^<r.gW=-ˆ
?XZ\?Rt FR=W^;Jt =?Zt ?\c8Zt
JsELt cFWJ?R=?Rt 2RFB?:q^=?Zt :W8^;E\t
%:&6L ?79C>3%-%6L
$:L C>-3%0".L
".:".3-%@%92L
0:<L:L
PF\C?:W8;E\?t
8^P?R@W?`=?Rt
g^:?W?F\?Rt
J8RRt 8PF\t
cFWt!0%F
R8;Et
P8Rt ZF;Et RF;E\t 8:Z;EW?;J?Rt
L8ZZ?Rt
=?RRt EFR\?Wt =F?Z?Wt sLL?t
0!Fxs<p}](X?1_ˆ
‡ˆ 2)TyOd`3Uyejxˆ
<%<L 2&06%L
:0:06'795<076%6L
06L :%3<%6L
C>L 8:t
=?Pt
ZZ?Rt%C%8<%L
RF;E\t FRt :76$%96L
?FRt 4?W=8^^RBZ\F?@t
@8LL?Rt BrRR?Rt
cFWt ^RZt
LryhM}vJc`ˆ …ˆ iT/wN\>†ˆ
:?@FR=?\t ZF;Et ?FRt q^p?W\t PS=?WRt 8^ZB?Z\8\\?\?Zt "?WRi?R\W^P
t
)06$%6$%9L
7583%A0<I<L
LLLE8^Z?FC?R?Rt
6:%9%L 96".%L
0:<L 05L$F\t
5!9>".L
^R=t
i^t ?FR?Rt
8@@??t FRt =?Wt
8@?\?WF8t
=?Wt 4?Wl
Zt BF:\t @8Z\t J?FR?Rt ,8^Pt SER?t SPU_\?Wt PF\t R\?WR?\i_B8RCt `R=t
Z\qR=FB`RBt FRt =?Wt 2RFa?WZF\q\t ZScF?t FPt 8LL\qBLF;E?Rt "?:?Rt E8:?Rt
Eq^@FBt :?@FR>?Rt ZF;Et @W?Ft i^CqRCLF;E?t ^R=t JSZ\?R@W?F?tW^;J?Wt =F?t
cFWt J8^Pt *WS:L?P?t =8t @8Z\t 8LL?t FRR?Rt ?FRt B^\t a?WZ\qR=LF;E?Zt
R^Wt PF\t ?FB?RZt PF\B?:W8;E\?Pt *8UF?Wt B?ZU?FZ\t c?W=?Rt PsZZ?Rt
RBLFZ;Et ZUW?;E?Rt 5F?t Z;ESRt ?WcqER\t @FR=?Rt ^RZ?W?t #?EWa?Wk
?:?R@8LLZt FRt =?Rt 1R\?WWF;E\ZWq^P?Rt 2Pt ZF;Et FRt >?Pt a?WZ;E8;El
8RZ\8O\^RC?Rt 8^@tRBLFZ;Et Z\8\\t c8Zt @sWt ^RZt aSRt BWSp?Pt4SW\?FLt FZ\t
\?L\?Rt ?:q^=?t :?ZZ?Wt SXF?R\F?W?Rt i^t JrRR?Rt EqRB?Rt 8Rt aF?k
L?Rt 5qR>?Rt ,8^PULqR?t PF\t =?Pt W^R=WFZZt =?Wt I?c?FLFB?Rt \8B?
t
=?RRt S:cSELt cFWt ?FR?Rt FRRFZ;EK_WZt :?L?B?Rt FZ\t =8ZtWL?WR?Rt =?Wt
'%!E E !E $! E !" " " " "
@FRRFZ;E?Rt -UW8;E?t @sWt ^RZt ?FR?t BWSp?t ?W8^Z@SW=?W^RB
t -St E8:?Rt
sWt W^UU?R8W:?F\?Rt Z\?E\t ?FR?t CWSp?t Rg8ELt 8Rt *WSI?J\Wq^P?Rt
cFWt RF;E\t R^Wt :?Ft =?Wt JSWW?J\?Rt ^ZZUW8;E?t *WS:L?P?t ZSR=?WRt aSWt
i^Wt @W?F?Rt 4?W@sB^RBt &?:?Rt =?Wt aF?L@qL\FBt :?Z\s;J\?Rt F:LFS\E?Jt
8^Zt 8Zt B?Z8P\?t 2RFZfZ\?Pt FZ\t Z?L:Z\t @sWt ^RZt 8LZt _Z\8`Z;El
8LL?Pt:?FPt-U?F;E?WRt=?WtP?FZ\t L8RB?Rt^R=tL?F=?WtJ?FR?WL?FtZZSgFk
E %0<&6L 50<L C.39%0".%6L!!03$>6-%6L
8\FSRt?Wc?;K?R=?Rt5rW\?Wt FRt^RZ?X?Pt SU@t :?Wt\WS\it =?WtW:?F\t
L E
FPt 2RFL?:?RtB?RF?p?RtcFWt=?RRS;Et=F?t6?F\tEF?WtS:?RtFPtESE?Rt &SWk
Z\_=?R\?Rt Z?EWt Z\W^J\_WF?X\t ^R=t \W8RZU8W?R\t 8_@:?W?F\?\t Zt CF:\t
=?RtZ?EWt`R>tZ?E?Rt=F?t/8B?tR^WtZSt8Rt^RZtaSW:?F@LF?B?Rt$F\\L?Wc?Fk
„4kl-Jw3y5ˆ }_*ˆ 6m@ƒ_‚z3ˆ }<"ˆ
3P{nƒA7^ˆ €f_ˆYgQ#Gˆ hbs|ˆ fB7oˆ „\%Fˆ
R!H8Xˆ caˆ c$`SCs[k%Vˆ Q&I9Xˆ cD:Zˆ
:?@FR=?Rt ZF;Et i^=?Pt ?FR?t DWSp?t -USW\E8LL?t ^R=t ?FR?t -8^R8t FPt
?FRt R\?WR?\USW\8Lt c?L;E?Zt ZScSELt =?Rt -\_=?R\?Rt 8LZt 8^;Et =?Rt
"+
Si?R\?Rt ?FR?Rt o:?W:LF;Jt
s:?Wt =F?t I?c?FLFC?Rt #?EWa?W8RZ\8L\^RC?Rt
:L @09$L %06%L 27583%<<%L 5:<9>2<>90%9>6-L :<<<*6$%6L
" " /04'=L $!%0L ;0#/L $;L ' #/40#/&L
[email protected]@L $'J9L 6C>%0-6%6EL 0%:%L I<C%L :06$L 6:8796L
>6$L %98'40".<>6-L C>-3%0".L >".L )K9L $0%L $90<<&L >+-%L
&:%-%9%".<%L B87-9'0%L .7".@%9<0-%L >::<<<>6-L
L?tE8:?RtZF;Et=F?tm5?L;SP?U8W\F?ZjtFRtmSS=:f?U8W\F?Zjta?Wc8R=?L\t
^R=tZ;ETRtFRtc?RFB?Rt08B?Rt\W?\?RtcFWt^RZ?W?t
?FPW?FZ?t8R
t
A>58'11 2I
-_ZFt -;EF?Wt `R=t
482:*<(6(88+-E @A*<(6(88+-E
8\EL??Rt +Ws@?Wt Z\^=F?W?Rt 4?WL8BZE?WZ\?LL^RBt 8Rt >?Wt /5 t "?FUgHBt ^R=t 8:ZSLaF?W\?Rt ?FRt -?P?Z\?Wt 8Rt =?Wt
4/ t 1RFa?WZF\ft FRt FRRL8R=t '-I
-^ZFt -;EF?W 8\EL??Rt +Ws@?Wt
7@FR=?\taSWt=?Pt?FB?R\LF;E?Rt ,?RR?RtZ\8\\t
.Yqr‚€— )}nYtl”€€Y}—
@g_}gW—;zeq—‚tW—2zt}PW— EsnP‚]—
&E
" "
" " " " ""
"EE — —9}h_gtPnP‚_PQY—@Y{€YrQY}——
"E — — Y}tY‚Y}€Y—#‚]nP_Y—
—@Yg€Yt—=z†zen€—BPSeYtQ‚Se—FY}nP_—-rQ.——)‚}z—
—AYg€Yt—.P}}Pz†h€Š—GY}nP_—— *‚}z—
/t—WgYYr—HY}l—…zt—.Ynr‚€— )}nYtl”€€Y}— †g}W—WYr— 3YY}— Yht— ‘QY}
'Y}— WY‚€SeY—%‚SerP}l€— h€— €“tWg_— hr— HPtWYn— 5g€— WY}— )ht]–e
QngSl— –QY}— WhY— ]‚tWPrYt€PnYt— -}‚tWnP_Yt— WY}— 5Y€P{}PSeY— K64—
}‚t_— YgtY}— tY‚Yt— HP}Yta}‚{{Yt‰€YrP€gl— — †Y}WYt— gt— WY}—
…Y}SeP]]€— Er]PYtW— †Y}WYt— gt— ŠYet— 2P{g€Ynt— WgY—%Y}YhSeY— K64—
Š†Yg€Yt— Pl€‚PnggY}€Yt—#ƒ^nP_Y— PnqY— †gSe€g_Yt— HP}Yt_}‚{{Yt— rh€—
‚tW—WY}Yt—%Y€PtW€YhnY—(C:—z†gY—K64— @SfYrP—‚tW—L;P€e—Y}n“‚Ž
Et€Y}_}‚{{Yt— l‚}Š— ‚tW— |}“_tPt€— P‚]_Y]–e}€— ‚tW— Y}n“‚€Y}€— 7Y
€Y}€—'PQYg—}gSe€Y€—gSe—WY}—#‚€z}—Pt—*gt€Yg_Y}—‚tW—Y}ln“}€—WgY—DeY
QYt—YhtY}—%YSe}YhQ‚t_—W[}—kY†Yhnh_Yt—HP}Yt_}‚{{Y—rg€—WYt—WPŠ‚—
rP€hl—P‚]–e}ngSe—Pt—%Yg{gYnYt— ‚tW—#‚]_PQYt— @Se}g€€— ]–}— @Se}h€€—
_Ye”}YtWYt— Et€Y}_}‚{{Yv—WY}— N‚z}Wt‚t_— …zt— /tePn€Yt—BeYrYt—
…Y}WY‚€ngSe€— )}nYtl”€€Y}— †gY— K64'zl‚rYt€Y— €}‚l€‚}gY}€— ‚tW—
‚tW— FY}nP_Yt— †Y}WYt— )v€†gSlq‚t_€YtWYtŠYt— z†hY— FY}rP}l
F?t "rZ^RB?Rt ZFR=t 8^ZZ;ELF?pLF;Et Z?RJW?;E\t FRt =F?t c?Fp?Rt
qZ\l
PtePtW— …zt—(C(— –QY}{}–]€— †Y}WYt— l”ttYt— N‚WYr— QgY€Y€— WgYY—
;E?Rt ?FRg^\W8D?Rt 8:?Ft PsZZ?Rt =F?t Z;Ec8Wg?Rt 2R\?W:W?;E^RB?Rt
JZ~l— hr— $uePt_— WiZ— ‘QZ}hTe€— –QZ}— …Z}SehZWZuZ— +pZrZu€Z— $€
a?WR8;ELqZZFB\tc?W=?Rt 8Zt "rZ^RBZcSW\t?WBF:\tZF;Et c88B?W?;E\tFRt
€}gQ‚€Y—‚tW—%YŠYgSetY}—WY}— @{}PSeYt—K64—(C:— ""E z†hY— @SeYŽ
=?Rt
SW8RB?@8W:?R?Rt
qZ\;E?Rt
4F?Lt -U8pt
:?FPt "rZ?Rt csRZ;E\t
rP—‚tW—
WgYt€— WPrg€— P‚Se—
Pn— Ygt]PSeY—
7PSeSenP_Y†Y}l—
QYh—WY}—
?^;Et=8Zt
-\W?F@:8R=\?8Pt
;}z_}PrrgY}‚t_—
'gY— %}zSe‚}—
–QY}ŠY‚_€— rh€— ge}Y}— tPSe…znn
ŠhYeQP}Yt—-ngYWY}‚t_— ‚tW— nzSlY}Yt— @Se}YgQ†YgY— ‚tW— SeP]]€— _YŽ
^W?t
"rZ^RBt Z;EW?F:\t
8Pt :?Z\?Rt
BL?F;Et 8Rt -\W?F@:8R=t
05 t
€‚t_€}P€Y_gYt—
P‚]_YŠYgb€—
‚tW— rg€—%Yg{gYnYt—
QYnY_€— #tePtW—
#?FUiFDt 8;E:?W?F;Et $?=F?Rt ^\?R:?WCUL8\it "?FUiFCt ZhtZ— ‰€ZrP€hSeZt— ?Zch€Z}— h€— Z— r•_phSe—hSe— SeuZpp— „uX—
FRZ?R=?Z;EL^ZZt
^;Et
FRt ^RZ?W?Wt =F?ZIqEWFB?Rt
{}zQnYrnz— YhtYt— ‘QY}QnjUl— –QY}—
WgY— …Y}SegYWYtYt—
HP}Yt_}‚{
^ZB8:?t
JrRR\t FEWt cF?=?Wt
8\\W8J\Fa?t
B?cFRR?R
t
?Wt
{Yt— Š‚— …Y}SeP]]Yt—
HYg\}egt—
†g}W—^;EUW?FZ?t
WgY— @€Ynq‚t_—
WY}— YhtŠYntYt—
,?;E\Zc?BtFZ\t8^ZB?Z;ELSZZ?Rt
HP}Yt_}‚{{Yt— ]–}— FY}nPd\— ‚tW— {YŠgYnn— gr— @z}€grYt€Q‚SeePtŽ
WYn— WP}_Y€Ynn€— ,–}—%‚Vee“tWnY}— …Y}rg€€Yn€— WgYY—%‚Se— tgSe€—
t‚}— Pl€‚YnnY—-}‚tWnP_Yw‡hYx—Y— QhY€Y€— P‚Se— ]–}— PnnY— PtWY}Yt—
t‚_—-}‚tW†gYt—‚r—gSe—€gY]Y}—rg€—WYr—B eYrP—M64—Š‚—QY]PYt—
G=C4$==@EI =?Wt L?\g\?Rt ^ZB8:?t 7'Wt c8Wt *4I C0I 6&4"I C"&":I
*=@I D*"I
"*4I 6":7":I
""/"I
*"I
=*4I
0t€Y}YhY}€Yt—
WgYY}—
%}PySeY—6&4"I
YgtYt—
)gtQnhSl—
gt— "D*44":I
WgY— HP}Yt_}‚{
HYg€Y}Y—Fz}€YhnY—WhYY—BPSeYtQ‚SeY—gtW—WP—ePtWnhSeY— ,z}rP€—
-^Z8RR?t #S;EP8RRt 8^Zt #?FUgFCt -^Z8RRt-?F@@?W\t8^Zt "?FUiFCt_R=t5SL@B8RBtW?E?Wt8^Zt
{Yt‰€YrP€gl— -;ErR:^WBt
O€}P’YtQPet€P‚_ngSe— ‚tW—WY}—‚tSenP_QP}Y—;}Yg—
LEIPZIGER MESSE
&(5,">
&(5,">
"!) ) !&!)
) '!)
•
)
) )
) %
! #!$)
)) )
deutschepapier
Wir handeln mit Verantwortung!
Als Papiergroßhändler sehen wir unsere Aufgabe natürlich darin, dem Markt
und den Ansprüchen unserer Kunden zu entsprechen. Ebenso ist es aber
unsere Pflicht, ökologisch zu handeln und damit auch der Umwelt Rechnung
zu tragen. Hierzu zählt vor allem das Thema Nachhaltigl<eit.
Dass erstklassige Verlagsobjekte durchaus mit umweltverträglichem
Handeln konform gehen können, zeigt unser FSC zertifiziertes Natur­
papier PROFIL PUBLISH.
Umweltschutz ist für die Deutsche Papier ein permanenter Prozess. Wir
arbeiten mit unseren Partnern auf der Herstellerseite ständig daran,
bestehende Sortimente und neue Produkte noch umweltfreundlicher zu
gestalten. Davon sind wir überzeugt - dafür tragen wir Verantwortung!
Mehr unter profilpublish @ deutsche-papier.de
oder www.deutsche-papier.de/fsc
;UGHRmP?Rm ?[AGmGjXZmYHCm YHRBmRIAGZmPCGXm a[m l@CXGjXCSm
1@m 5AG?[YVICOCXm ^HCm 1ZZUm 5?RBCXm*?Rm*UYCEm -JCECXYm.UXHZam OCH@ZXC[m UBCXm FXUhCm
]UPm:CXO?FmECYZFCYCZaZCXm-?BCSVXCHYCm?OOCRm.IZFOJCBY@[AGGiRBOCXSm
5?PPCOXC]CXYm ]CXCHSE?AGZm BCXm @CHm CHRCPm 2XCHY@HRB[RFYZXC[GiRd
,URaCXRCm ^JCmCXZCOYP?RRm[RBm#HYAGCXm ?OOCm^UOOCRmPJZP?AGCRm ,CHRm ;[SBCXmBCSRmYUOAGmGUGCm <[^?AGYX?ZCRmG?ZmM?[PmCHRCmX?SAGCma[m
a[Xm 2EOIAGZm .HYY?AGZ[RFmMUSRZCm PIZm -HCECXYVCXXCm UBCXm :CXCHRY?[Yd
BCXm GHRZCXOCFZm ^\XBCm BCXm ?[AGm BHCm !HRG?OZ[RFm BCXm EXCJ^HOOHFCRm :CXc
]CXaCIAGRCRm ICm4CBCmIYZm ]UQm &kX@[AGYCMZUXmCIRCPmBCXm =[FVECXBCm IPm BC[ZYAGCRm[AGG?SBCOm BCXm ]CXF?RFCRCRm+?GXCm=[Xm !JRYAGiZa[RFm
YAGO[YYm FC?GRBCZm ^CXBCRm
VEOHAGZ[SFm a[m l@CX^?AGCRm G?ZZCm (Rm BCXm .?XMZ^HXZYAG?EZm BCXm [Rd
BCYm .?XMZCYm [RBmBCXm <[M[REZY?[YYHAGZCRmG?@CRm^HXm [RYm PHZm &CHMCm:jOMCX5HC@CXm ]UPmX?RAGCRVXHP[Ym 0> <06 0)">[RZCXG?OZCRm
BiQP[RFm BCYm 2XCHYM?PVECYm R?AGm E?YZm CIRCPm *?GXG[RBCXZm HGXCSm
BCYXCV[@OIMm^[XBCm?[YmM[OZ[XVUOHZHYAGCSm %XlRBCRmBCPm[AGG?RBCOm
CXEUOFXCHAGCRm @YAGO[YYm
HSm
?PHZm E?SBCRm CYZXC@[RFCSm a[Xm "HRd
HCm ,XjRCXYAGCm 4CEUXPm CX^CHZCXZCm a[d
m BCYm 1 4: 1> " " ,> 34 7 01 1$0;,'5," ,> FC@[Sc
a[FCYZ?RBCSm 5CHRm %COZ[RFY@CXCHAGm ^[XBCmS?AGm m
Ym YHRBm =?GOCRm BHCm 8RZCXSCGPCXm ISm BCXm &jX@[AG@X?SAGCm ZXi[c
:CXY[AGCm ]USm ( 43.33> [RBm .7.$(3> CHRCSm .?XMZm a[m @CFXlRBCRm
FOCJAGm BHCm <^CAM@CYZHPP[RFm BCYm jXYCR]CXCJRYm ?[Em #CYZYZCOO[RFm
BCRCm
PCRm O?YYCRm OOCHSm m 2XUaCRZm =[^?AGYm HSm BCRm CXYZCSm BXCHm
;iGXCRBmBCXm YHC@aHFCXm[RBm?AGZaHFCXm*?GXCm^?XCRmE?YZm?OOCm&jX@[AGc
]CX@HRBOHAGCXm%CYAGiEZYRUXPCRmEH_JCXZmHRmCHRCXm 5$%;,( 0&1$ ,>
?[Em BHCm RC[CRm \RBCYOiSBCXm CX^CHZCXZm &HCXm F?OZCRm@HYm B?GJSm HRm BCXm
3[?XZ?OCRm m B?Ym ;CHGS?AGZYFCYAGiEZm B?Ym a^HYAGCRm m [SBm
]CXjEECRZOIAG[SFCSm EJS?SaHCOOCm .HYYCXEUOFCm !XYZm PIZm @CYYCXCSm ZCAGc
0' $01.0,5,"> >m 135$$, (1.0,5,#> >mm [RBm
aCRZX?OCRm 2O?R^IXZYAG?EZm BCXm
4m XCFHCX\RFY?PZOHAGm ECYZFCYCZaZCm
m 2XUaCRZm BCYm *?GXCY[PY?ZaCYm ?[YP?AGZm HYZm GHCXm SUAGm F?Xm SHAGZm
RIYAGCRm :CXE?GXCRm [SBm @YVICOPjFOIAGNCIZCSm @CYURBCXYm S?AGm BCPm
5$$;,( 0&1$ ,> 0'5!1.0,5,"> >m 5HCm @IOBCZCSm BCRm
2XCHYCm ElXm ?OOCm ,URY[QFlZCXm
)Rm BCRm CXm +?GXCSm ^[XBCm B?Ym
@CXlANYHAGZJFZm R?O`YZCSm FCGCSm ]USm CHSCPm 9QY?Zam ]URm [SFCEiGXm
[XAG@X[AGm BCXm RE?SFm BCXm SC[RaJFCXm *?GXCm@HOBCZCm YIAGm
%X[RBYZCIRm ElXm CHSCRm JPPCXm ^HCBCXm a[OCZaZm m ?MZ[?OHYHCXZCSm
?[AGm HRm gYZCXXCIAGm [RBm BCXm 5AG^CIam @C^iGXZCm 2XCHY@HRB[RFYY`Yc
zur
LEIPZIGER BUCHMESSE.
m .HOOIURCRm ![XUm ElXm m ?[Ym 5AGiZa[RFCSm CX^?XZCSm CISCm 5ZCHc
CISm CXYZm O?RFY?Pm ?@CXm YZCZHFm ^?AGYCRBCXm .?XMZm
e9Y?SACRMUBC_bm BCXm ]UPm e2XHSaHVm BCXm PUX?OIYAGCTm :CX?RZ^UXZd
ZCPm ?RFCEUAGZCRm B[XAGm BHCm ;CZZ@C^CX@YMUPPHYYHURm BCXm ![XUVic
FCX[RFm ]USm @IYm a[m m 2XUaCRZm @HYm m ,CHSm ;[SBCXm ?OYUm B?YYm
5HC@CXm ]UQm <06 0)"> P?AGZm ElXm B?Ym FXUhCm ;?AGYZ[Pm BCXm ]CXF?Rc
OHAGMCHZm FCFCSl@CXm BCXm %CY?PZGCHZbm BCYm [AGG?RBDOYm FCZX?FCRm
HYAGCRm 9RHURm BICm LCBCm $UXPm ]URm 2XCIY?@YVX?AGCSm HPm FXCRal@CXd
]HCOCm :CXO?FCm YHAGm ?[Em BCPm &jX@[AGP?XMZm CJSm a^CHZCYm 5Z?RB@CHRm
FCRCRm *?GXCm @CYUSBCXYm BHCm [Y^CIZ[SFm BCXm <ICOFX[VVCSm ]CX?SZc
ElXm ?OOCm.HZFOICBCXm BCYmjXYCR]CXCHRYm]CX@HRBOHAGmIYZm
?[E@?\CRm 5AGUSm QCGXm ?OYm m R@HCZCXm B?]URm ]HCOCm ?[AGm ?OYm XCHSCm
^UXZOHAGm e;CHOm ^IXm PCGXm -C[ZCm ?RYVXCAGCRm CXGjGCRm YHAGm [RYCXCm
+130&43 ,>
&jX@[AG]CXO?FCm Z[QPCOSm YIAGm PHZZOCX^CHOCm ?Qm .?XMZm OOCXBHSFYm
5Z?XZ?[EO?FCSm .HZZOCX^CHOCm FCGCRm ^HXm @CHm 0C[CXYAGCHS[SFCRm PHZm
-CGXCXm 2XUECYYUXCSm [RBmH@OHUZGCM?XCm PUAGZCRm CIRCm 4CB[aICX[RFm
YHRBm CZOHAGCm B?]USm MOCJSCm "IS.?RS9SZCXRCGQCSm BHCm S[Xm ^CRHFCm
ElREYZCOOHFCSm [EO?FCRm ?Sm BCSm 5Z?XZbm <[YiZaOIAGm ^CXBCSm BHCm 'jXd
FC^UGRZCXm4?@?ZZCm?[EmGjAGYZCSYm m2XUaCRZmRHAGZmGHRTCGPCRmm
a^IYAGCRYZ??ZOHAGCRm &?SBCOm ?[YYAGOIChCRm MURRZCm ?@CXm FCRCXCOc
&CIMCm :jOMCXd
eiJ
YAGXCIZCRBCRm ;?XCS]CXMCGXm ?OYm [R]CXCHR@?Xm PHZm BCSm 2XHSaIVICRm
12. -15. März 2009
@OIC@m BJCm 2XCHY@ISB[SFm [RZCXm [AGMi[EDXRm :UXm ?OOCPm
BCYm EXCHCRm &?RBCOYm HPm
@lAGCXm HRm [SZCXYAGHCBOIAGCRm :CXYIURCRm ]CXjEECRZOIAGZm OYm -CY[RFm
]CXE?YYZCmBCXm-CHVaJFCXm gMURUPHCVXUECYYUXm ,?XOmlAGCXmJPm[EZX?FCm
OCm :UX@CG?OZCm RHAGZm ?[YXi[PCRm
HRm FCMlXaZCXm :CXYHURm [RBm ?OYm &jXYVHCOm e#XlGCXm ^iXCm BICYm GHRBCXc
BCYm a\Xm @^CGXm BCXm 2XCJY@HRB[RFm FCFXlRBCZCRm M?BCPHYAGCSm
BCXm
aCSBm RIAGZm B?X[SZCXm EHSBCRm YIAGm ?OOCXBHSFYm @CM?RSZCm 0?PCSm ^ICm
OIAGmFC^CYCSmGC[ZCmMjRRCSm^HXm YUmPCGXCXCm <HCOFX[VVCRm @CBICSCRbm
5AG[Za]CXCHRYm BHCm
BHCm $HYAGCX7UAGZCXm 0"., 0("> 5&.5$> 0> 5&. 0(">
YUm :jOMCX5HC@CX
m <[BCPm ^HXBm @CHPm .?XMCZHRFm ?Sm CHRCPm 5ZX?SFm
&11 ,1$!4>
6JZCOm HPm 4CVCXZUHXCm G?@CSm UBCXm 0HYAGCSm HSm BCXm 0?AGEX?FCm @CBICSCRm
ICm <?GOm BCXm 5AG^CXFC^HAGZCmHRm BCXm X?RAGCm l@CXYAGXCHZCZmB?Ym
[Zc
CRMYAGXHEZm 0> 541$ > 5$$, (> 5,> & >
?XHRm MXHZIYHCXZCm CXm .IYYYZiRBCm BICm CXm BCXm ]UPm jXc
FCaUFCRm [AGm [SBm &jX@[AGm CXYAGCHSCRm PHZZOCX^CIOCm HSm ]ICOCRm
YCR]CXCHRmVXUZCFHCXZCRm-?BCRVXCJY@HRB[RFm?RO?YZCZCmBCSRm e.USUc
#iOOCRm E?YZm aCHZFOCHAGm [RBm ^CXBCSm FCPCHSY?Qm WXUPUZCZm [hCXBCPm
VUOWXCHYCbm@XCPYZCRmBHCm /UBCXRHYHCX[RFmHPmBC[ZYAGCRm[AGG?RBCOm
,.+> .51 >5&.>
FI@Zm CYm QHZZOCX^CIOCm 5ZUEEm BCXm C_MO[YH]m ?OYm &jX@[AGm CXYAGCHSZm ^HCm
HCm #O\Zm ?Rm !RZFCFR\RFCRm CRZXlYZCZCXm :CXOCFCXm [RBm [AGGiRBOCXm
"Ym HYZm YAGUSm CHSm ^Cc
a[PmCHYVJCOm
XCG@[AG:CXZUS[RFCSm
?X[Pm @CYAGOUYYm R?AGm gYZCXXCHAGm
C[ZYAGCm[RBCYZ?FmmCHRm 1 39>= 0>& > 0 &1&,5,">!=0>
=$ 0> B?Ym B?Ym VXH]?ZXCAGZOHAGCm 5`YZCPm ?@OjYZCm ?R?AGmIYZmLCBCXm
BCXm elAGCXm ]CXOCFZm UBCXmHPVUXZHCXZmm
CHSCSm 2XCHY m
Verlage, Autoren und neue Bücher
*> 0> <06 0("> &$.0,> &.> 8, > <05$> 0(">
.!!+,,>5,>+/ > = >5&.>YU^JCmBHCmCXZCOYP?RS6UAGZCXm
.,> 0> ( &3 0,$ > 95+> +139+.3.0>
;HXZYAG?EZYX?[Pm ?SY?Gm !HSm
XCH-iRBCX4C]CXYm YUOOZCm B?Ym 9RZCXO?[ECRm FC@[RBCRCXm 2XCHYCm JPm
ElXm BCRm :CXM?[Em ?Rm -CZaZ?@RCGPCXm ECYZa[YCZaCRbm BCXm m .UR?ZCm
FHOZm[RBmR[Xm[RZCXm@CYZJQPZCRmCBHRF[RFCRm[RZCXYAGXJZZCSm^CXBCRm
B?XEm fGROHAGCm %CYCZaCm ea[Pm 5AG[Zam BCYm ,[OZ[XF[ZCYm [AGbm FCOd
FHRFm ?OYm elAGCX5ZXCHZbm HSm BJCm %CYAGJAGZCm CHRm 0?AGm eNURZX?BHMc
ZCRm PHZZOCX^CHOCm JRm E?YZm ?OOCRm "9-iRBCXRm PHZm [YS?GPCm ]USm #HRSc
O?RBm %XUh@XHZ?RRHCSm [SBm )XO?SBm )YZm B?PHZm BHCm [AGVXCHY@HSB[SFm
SHFm l@CXX?YAGCSBm ^COAGCm !RZ^HAMO[RFm BCXm &jX@[AGP?XMZm PHZc
& > 0 -2> ?Ym [PY?ZaYZiXMYZCm 2XUB[MZm G?Zm BCXm <06 0(">
ZUXHYAGCRm :CXG?RBO[RFCRbm ^[XBCm CXm ]UPm 4CHAGYIRRCSPISHYZCXJ[Pm
FCP?AGZm G?Zm 0?AGm BCPm <^CIZCSm ;COZMXHCFm ^?Xm BHCm 531$ >
?Pm m *?R[?Xm BHCYCRm *?GXCYm ]CXjEECSZOHAGZm e&?XX`m 2UZZCXm [RBm
a[F[RYZCRm BCXm -?BCRVXCHY@HRB[RFm ?[Em ?YHYm EXCH^JOOHFCXm :CXZXiFCm
ea[M[REZYECYZbm %XUh@XHZ?RRICRm [RBm 5AG^CBCRm G?@CSm YHCm HRm BCRm
0++./$.,> BHCm CXYZCm #HXP?m ^COAGCm &jX@lAGCXm GCX?[Y@X?AGZCm
BHCm &CHOHFZlQCXm BCYm 6UBCYbm e HCm 2UZZCX&jX@lAGCXm @XJRFCSm [RYm
a^HYAGCSm :CXOCFCXSm [RBm [AGGiRBOCXRm CRZYAGHCBCRm
0?AGm BCPm
CXm *?GXCRm FCX?BCm ?@FCYAG?EEZm (Rm BCXm 5AG^CIam ^[XBCm m CHRm
UAGm BHCm HSm <[Y?QPCS?X@CHZm PIZm BCQm 5$3 0$,> 0("> [RBm BCXm
BCRm PCHYZCSm 8PY?Zabm YAGIOBCXZm :jOMCX5HC@CXm e CYG?O@m HYZm CHRm
<^CHZCRm ;COZMXJCFm ^[XBCm BHCYCm VXH]?ZXCAGZOIAGCm 4CFCO[RFm B\XAGm
]URm[AGGiRBOCXRm[SBm:CXOCFCXRm@C?RZX?FZCYm2XCHY@IRB\RFYFCYCZam
> GCX?[YFC@X?AGZCSm &jX@[AGXCHGCRm YAGCHZCXZCSm FCS?[YUm ^HCm BICm
2UZZCX*?GXm CHSm F[ZCYm +?GXm ElXm \RYbm OOCXBHSFYm PlYYCm P?Rm BHCm
CHRCRm ]URm :CXOCFCXRm [RBm [AGGiSBOCXRm a[m [RZCXYAGXCH@CSBCSm
?@FCOCGSZm CXmRE?RFm]UPm "SBCm
www.leipzig-liest.de
www.leipziger-buchmesse.de
•
deutschepapier
Wir handeln mit Verantwortung!
Als Papiergroßhändler sehen wir unsere Aufgabe natürlich darin, dem Markt
und den Ansprüchen unserer Kunden zu entsprechen. Ebenso ist es aber
unsere Pflicht, ökologisch zu handeln und damit auch der Umwelt Rechnung
zu tragen. Hierzu zählt vor allem das Thema Nachhaltigl<eit.
Dass erstklassige Verlagsobjekte durchaus mit umweltverträglichem
Handeln konform gehen können, zeigt unser FSC zertifiziertes Natur­
papier PROFIL PUBLISH.
Umweltschutz ist für die Deutsche Papier ein permanenter Prozess. Wir
arbeiten mit unseren Partnern auf der Herstellerseite ständig daran,
bestehende Sortimente und neue Produkte noch umweltfreundlicher zu
gestalten. Davon sind wir überzeugt - dafür tragen wir Verantwortung!
Mehr unter profilpublish @ deutsche-papier.de
oder www.deutsche-papier.de/fsc