1~(*/" #
&- */'03."%03 &- */'03."%03
%PNJOHP EF EJDJFNCSF EF
L=O=LKNPA
(6"%"-"+"3" +"- %0.*/(0 %& %*$*&.#3& %&
H= CQรฅ= L=N= @EOBNQP=N AH @KIEJCK
-ร ยซiร ร ย ร ย ร \ร ร ร >ย ร ร >ย Vย ร Vย ร ย ย รข?ย iรขร ร vร >ย Vย ร Vย ยฐ}ย ย รข>ย iรขJย ย vย ร ย >`ย ร ยฐVย ย ยฐย ร ร
/BWJEBE BM FTUJMP .&9*$"/0 /PSNB (VUJยนSSF[
"
VORVF MB NBZPSยฝB EF DPTUVNCSFT Z USBEJDJPOFT TPO SFTVMUBEP EFM NFTUJ[BKF FOUSF MB DVMUVSB FTQBร PMB Z FM MFHBEP QSFIJTQยฒOJDP B MP MBSHP EFM UJFNQP .ยนYJ DP IB MPHSBEP DPOTPMJEBS IยฒCJUPT QSPQJPT EF TV JEFOUJEBE BEBQUBOEP MBT GFTUJWJEBEFT VOJWFSTBMFT NVZ B TV NPEP NVZ B MB NFYJDBOB -B /BWJEBE FT VOP EF MPT GFTUFKPT RVF MPT NF YJDBOPT IBO BQSPQJBEP B TV FTUJMP FO MB EFDPSB DJร O DPO DPMPSFT Z BSPNBT RVF TF IBO BDVร B EP FO MB JOUJNJEBE EF MPT IPHBSFT MB DPNJEB Z MPT DBOUPT "M TFS VO QBยฝT FO TV NBZPSยฝB EF DSFFO DJB DBUร MJDB Z DSJTUJBOB VO FNCMFNB JOEJT QFOTBCMF RVF TF NBOJGJFTUB FO DBEB /B WJEBE FT MB DPMPDBDJร O EFM i/BDJNJFOUPw FO FM RVF TF SFGMFKB FM BMVNCSBNJFOUP EF +FTVDSJT UP P i&M /Jร P %JPTw QPS QBSUF EF MB 7JSHFO .BSยฝB USBT TV QFSFHSJOBDJร O FO DPNQBร ยฝB EF +PTยน .ยฒT BMMยฒ EFM PSJHFO Z TJHOJGJDBEP EFM i/BDJ NJFOUPw FO .ยนYJDP TF IB DPOWFSUJEP FO VO WFSEB
EFSP SJUVBM RVF B MB QBS IB JNQVMTBEP MB BSUFTBOยฝB DPO i/BDJNJFOUPTw RVF EFTUBDBO FM JOHFOJP Z UยนDOJ DBT BODFTUSBMFT DPNP FM CBSSP MB QBKB UFKJEB Z MB DF SยฒNJDB QPS FKFNQMP RVF BQVFTUBO QPS SFQSFTFOUBS B MPT QFSTPOBKFT EFTEF MPT GPSNBUPT NยฒT NJOJBUV SB IBTUB MPT NPOVNFOUBMFT RVF TPO MMFWBEPT B MBT QMB[BT Qร CMJDBT QBSB BEFSF[BS FM BNCJFOUF GFTUJWP EVSBOUF EJDJFNCSF IBTUB MB MMFHBEB EF MPT i3FZFT .BHPTw FM EF FOFSP 1BSBMFMBNFOUF B MB QVFTUB EFM i/BDJNJFOUPw FM BSCPMJUP OBWJEFร P FT PUSB DBSBDUFSยฝTUJDB BSSBJHBEB FO MPT NFYJDBOPT RVF DPO ยฒSCPMFT TJOUยนUJDPT P OB UVSBMFT JOWJUBO B MB SFVOJร O GBNJMJBS QBSB TV EFDPSB DJร O DPO VOB JOGJOJEBE EF QPTJCJMJEBEFT DSFBUJWBT EFTEF BRVFMMBT RVF BUJFOEFO B MB DVMUVSB BOHMPTBKP OB DPO FTUSFMMBT Z FTGFSBT DSJTUBMJ[BEBT Z NFUBMJ[B EBT IBTUB TFSJFT EF MVDFT NVMUJDPMPSJEBT TJO PMWJEBS MPT MJTUPOFT CSJMMBOUFT MBT QJร BT Z OBUVSBMF[B NVFS UB P EFTIJESBUBEB FOEยนNJDB EF DBEB SFHJร O DPNP MB i/PDIF CVFOBw GMPS DBSBDUFSยฝTUJDB EF .ยนYJDP RVF UBNCJยนO FT VUJMJ[BEB DPNP PSOBNFOUP EFDPSBUJWP FO MPT IPHBSFT Z FTQBDJPT Qร CMJDPT EF MB DJVEBE
=IH F; =IF;<IL;=CรฅH >?F ;LNCMN; N;J;NรกI =BCMEI LIGI& ?F BIN?F Q?MNCH NC?H? OH; JLIJO?MN; J;L; L?F;D;L NI>IM NOM M?HNC>IM4 =IFIL S <C?H?MN;L 'SBODJTDP (PO[ยฒMF[ B SVUJOB OPT TVFMF EFKBS BM GJOBM EFM EยฝB DPO HBOBT EF EFTDPOFDUBSOPT EFM NVO EP "HPCJBEPT QPS MB SVUJOB EFM USBCBKP FM KFGF NBOEร O FM USยฒGJDP JOGFSOBM Z MBT MBSHBT GJMBT QBSB UPEP MP ร OJDP RVF EFTFB NPT FT MMFHBS B EFTDBOTBS Z QPOFSMF QBV TB BM NVOEP 1FSP {RVยน UBM TJ FO MVHBS EF DBFS FO MB DBNB MJCFSBNPT VO NVOEP EF DPMPSFT %FOUSP EF TV PGFSUB QBSB USBUBS B TVT IVยนTQFEFT EF MB NFKPS NB OFSB 5IF 8FTUJO (VBEBMBKBSB PGSFDF VOB OVFWB EJOยฒNJDB $PMPSFBS 4ยฝ TBDBS UPEBT MBT UFOTJPOFT EFM EยฝB QJOUBO EP EF DPMPSFT VO NVOEP GBOUยฒTUJDP -PT NBUJDFT MPT FMJHFT Uร Z FM IPUFM QPOF MBT IPKBT VOBT NVZ FTQFDJBMFT &M FRVJQP EF DPNVOJDBDJร O EFM 8FT UJO FYQMJDB RVF iVOB EF OVFTUSBT BDUJWJ EBEFT GBWPSJUBT EF MB JOGBODJB TF IB WVFM UP VOB UFOEFODJB DPO VO FOGPRVF B MPT CFOFGJDJPT EF MB TBMVE NFOUBM QBSB MPT BEVMUPT 3FDJFOUFNFOUF MPT MJCSPT QBSB DPMPSFBS QBSB BEVMUPT DPNFO[BSPO B FO DBCF[BS MBT MJTUBT ANยฒT QPQVMBSFT FO MBT MJCSFSยฝBT QPSRVF UPEPT RVFSยฝBNPT FOGP DBSOPT VO QPDP NยฒT FO OVFTUSP CJFOFT UBS NFOUBM Z MB BUFODJร O QMFOB BVORVF FO SFBMJEBE FT QSPCBCMF RVF TPMP FYUSBร F NPT FM DPMPSw &M IPUFM DSFร FOUPODFT VOB BDUJWJEBE QBSB DPMPSFBS FO MB RVF TF iQSPNVFWF MB
-
BUFODJร O QMFOB Z SFTVMUB VOB CVFOB QSยฒD UJDB QBSB RVF MPT IVยนTQFEFT TF QVFEFO SFMBKBS B MB WF[ RVF PGSFDF VOB TBMJEB B TV DSFBUJWJEBEw 3FUPNBOEP FTUB BDUJWJEBE Z CBKP MB GJMPTPGยฝB EF IBDFS TFOUJS CJFO B TVT WJTJUBOUFT FM DPNQMFKP SFBMJ[ร VOB BMJBO[B DPO FM JMVTUSBEPS UBQBUยฝP $IJTLP 3PNP QBSB MB DSFBDJร O EF USFT JMVTUSBDJP OFT QBSB DPMPSFBS -BT JMVTUSBDJPOFT GVFSPO DSFBEBT FY DMVTJWBNFOUF QBSB FM IPUFM DPMPDBEBT FO DBEB VOB EF MBT IBCJUBDJPOFT EFM SFDJOUP Z TF JOTQJSBO FO MPT iQJMBSFT EFM CJFOFT UBSw EF MB NBSDB 8FTUJO BDPNQBร BEBT EF DPMPSFT QBSB RVF MPT IVยนTQFEFT QVF EBO B USBWยนT EFM EJCVKP EFTQFKBS MB NFO UF IBDFS B VO MBEP FM FTUSยนT Z NFKPSBS MB DPODFOUSBDJร O "HSFHB FM FRVJQP EF DPNVOJDBDJร O RVF FM IPUFM iFTUยฒ FOGPDBEP BM CJFOFTUBS EF MPT WJBKFSPT BOUFT EVSBOUF Z EFTQVยนT EF TV FTUBEยฝB B USBWยนT EF QSPHSBNBT EJTFร B EPT QBSB BZVEBS B MPT IVยนTQFEFT B BMDBO [BS FM CJFOFTUBS FO UPSOP B TFJT QJMBSFT DP NFS CJFO EPSNJS CJFO NPWFSTF CJFO KVHBS CJFO USBCBKBS CJFO Z TFOUJSTF CJFOw {5JFOFT HBOBT EF QBTBS VO EยฝB EJGF SFOUF 7BMF MB QFOB RVF UF RVFEFT FO FM )PUFM VOB OPDIF Z EJTGSVUFT EF MB FYQF SJFODJB EF EFKBSUF MMFWBS QPS MPT DPMPSFT TBCPSFT Z DPNPEJEBE RVF PGSFDFO B TVT IVยนTQFEFT
'*&45" $0/ 1*ยบ"5"4
4BCPS EF DBTB 1PS NยฒT VOJWFSTBM RVF TFB VOB SFDFUB FO .ยน YJDP ยนTUBT BERVJFSFO JEFOUJEBE QSPQJB HSBDJBT B MBT UยนDOJDBT Z TBCPSFT RVF DBEB IPHBS CSJOEB B MB NF[ DMB EF JOHSFEJFOUFT Z UยนDOJDBT EF QSFQBSBDJร O 1PS FKFNQMP FM QBWP SFMMFOP TJ CJFO FT EF PSJHFO NยฒT FTUBEPVOJEFOTF Z FVSPQFP FO TVFMP NFYJDBOP MBT OVFDFT MBT NJFMFT FM DIJMF DBTDBCFM Z QBTJMMB MB NBO[BOB QJร B FMPUFT Z IBTUB FM BHVBDBUF TF IBO DPOWFSUJEP FO FMFNFOUPT JOGBMUBCMFT B MB IPSB EF MB DFOB OBWJEFร B TJO PMWJEBS FM BSPNยฒUJDP QPODIF DB MJFOUF OVUSJEP EF DBร BT QBTBT OBSBOKBT HSBOB EBT NBOEBSJOBT Z DBOFMB RVF EBO VO UPRVF NยฒT DBTFSP -PT HVJTBEPT EF SPNFSJUPT Z CBDBMBP TPO QSP UBHPOJTUBT JOEJTDVUJCMFT EFM DFOUSP EFM QBยฝT Z MB DBQJUBM TJO FNCBSHP FO +BMJTDP MPT UBNBMFT DBS OFT BTBEBT QPMMPT IPSOFBEPT Z FM QP[PMF TPO VOB DPOTUBOUF OBWJEFร B BM JHVBM RVF FO FM OPSUF MPT DPSUFT FM DBCSJUP TB[POBEP Z MBT CBSCBDPBT Z MPT MFDIPOFT UBUFNBEPT TPO JOEJTQFOTBCMFT QBSB MPT QBMBEBSFT
&M BNCJFOUF GFTUJWP EF DBEB GBNJMJB FT PUSP DBOUBS RVF EJGFSFODJB B .ร YJDP EF PUSBT SFHJPOFT EFM NVOEP 1BSB FNQF[BS MPT iCPMPTw P iBHVJOBMEPTw DPOPDJEPT BTร UBNCJร O FO .PSFMJB DPO EVMDFT Z GSVUBT EF UFNQPSB EB P IBTUB DPO VO KVHVFUF QBSB MPT OJร PT FT VO FNCMF NB FO MBT QPTBEBT Z MB /P DIF #VFOB -BT QJร BUBT {2VJร O SFTJTUF B MB QPTJCJMJEBE EF BQBMFBS B VO Dร OUBSP EF CBSSP P VOB DBOBT UJMMB EF QBQFM QFSJร EJDP $BTJ OBEJF Z MBT QJร BUBT USBEJDJPOB MFT DPO TVT QJDPT CSJMMBOUFT RVF SFGMFKBO MPT QFDBEPT DBQJ UBMFT Z MBT NBMBT FYQFSJFODJBT EFM Bร P TPO VO EFMFJUF GFTUJWP QBSB MB VOJร O GBNJMJBS Z RVF EF QBTP FOBMUFDF PUSB EF MBT USBEJDJPOFT BSUFTBOBMFT QSP QJBT EF .ร YJDP
$0-03&4 QBSB HVBSEBS MPT TVFยจPT &- */'03."%03 t ' (0/;ยซ-&;
$0-03 : #*&/&45"3 -B JOJDJBUJWB EFM IPUFM QFOTBEB QBSB SFMBKBS Z IBDFS GFMJDFT B TVT IVร TQFEFT
$POPDF BM BSUJTUB $IJTLP 3PNP FT VO KPWFO Z SFDP OPDJEP UBMFOUP DSFBEPS EF MFUUF SJOH FO PUSBT QBMBCSBT FM BSUF EF EJCVKBS MFUSBT &M JMVTUSBEPS OBDJ EP FO (VBEBMBKBSB F JOTQJSBEP QPS MP RVF MB DJVEBE PGSFDF DPO WJFSUF DBEB VOP EF TVT EJTFร PT FO QFRVFร BT PCSBT EF BSUF i$PMPSFBS FT VOB EF NJT QB
TJPOFT Z VO FKFSDJDJP UFSBQยนVUJDP RVF IB EFNPTUSBEP QSPNPWFS MB BUFODJร O QMFOB Z MB SFMBKBDJร O Z FTQFSP IBDFS RVF MB FTUBODJB EF DBEB IVยนTQFE FO FM IPUFM 5IF 8FTUJO (VBEBMBKBSB TFB VO QPDP NยฒT JOTQJSBEPSB Z GFMJ[ B USBWยนT EF FTUB DPMBCPSBDJร O FTUPZ GFMJ[ EF DPNQBSUJSMPw SFNBUB
%FT DVCSF NยฒT EFM UBMFOUP EF FTUF UBQBUยฝP FO TV QยฒHJOB EF 'BDFCPPL XXX GBDF CPPL DPN $IJTLP 3PNP