ORGANO OFICIAL
No. 140
II EPOCA
Palacio municipal de Tlacotalpan.
En colaboraci贸n con:
ENERO - FEBRERO DE 2015
*.+$/ ' .+ 8*'
AQUI "% !" " &" ! ! &# D" *#+$"#',# $!#)*#+$"#',# $*#!,(* 0"$!( $*#!,(*
*,# / $+#1(
- %0*!$,( !$(' & ( 0.$!( #&+
/
!(! ' ! % ) &' "&# ' ' - 1$./ . /* *. ' 0)$ * * % /* .*'$ $/ - 0) )0) $* . *./ -' )* . +- / ) # 0) *-" )* '0 - /$1* .$)* ( )/ ) - 0) +0 '$ $*) ,0 )*. $)!*-( 4 +0 ( %*- -. ) *)/ )$ * 4 +- . )/ $*)
! "% & + " ! ) % '" ! "! !9 #" ! # !' * " # !
*( )4 (*. *) '*. 8*. 0(+'$- *) )0 ./-*. .* $ *. 3 ' /*- . )* .* $ *. + -* . "0$ *- . )0 ./- - 1$./ * . +- $. ( )/ /* 0) 1$ +*-,0 6./ ) ' /0 '$ 3 ' ( $(*. +*- ' /-$+' 3 # ./ +*- 0 /-* 1 . '*.
8*. -* ) ./*. +* *. =,0 /* . ( ) - . 3 . ./ - ) ' %01 )/0 # (*. # #* '* +*.$ ' + - # - 0) - 1$./ *(* 6./ ,0 /$ ) 0./ ) .0. ( )*. 3 ) '' 1 $(+'7 $/ ' 1 - '* ,0 . 0 )/ #$./*-$ ) )0 ./- . ( )*. ,0$ - */-* /*)* +*-,0 % (*. ' . -$ 0) ' * + - *)/ -' *(* )/ - )& $) /-
($ ( ) - ) !$) ,0 ' !$) . *). "0$- ,0 ' ' /*- .*)-7 +*-,0 )* 1 ) *)/- - ' -$"$ 4 ' 0./ -$ )$ ' . 1 -$ '"0) . )0 ./-*. - ' /*. #$./9-$ *. ' 1 -'*. . ' ($) - / ' #0(*- $ -'*. -2 #0 $ - . -$/* ' +$/ ' +*)$ ) * ) ' -$ 4 .0 / 2/* 0)*. "- )*. +$($ )/ . "0 - ( )/ ,0 /* * ' (0) * #0 $ . ' 7 * . ( % )/ ' -$''* < 0$6) )* # ' 7 * ) ' $*) . .0 . $9) -$. - ( $* $) ! '$ ' $ )*.*/-*. '*"- (*. ,0 ' #$ '* .0 -*./-* . --$/ *) ' .*.+ # 0) .*)-$. ,0 . .*( ) '*. ' $*. )*. . )/$- (*. $ ) + " *. $( &
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
,/<48,= 08><,8>0 B =,6408>0
! !( &'% #"%' + "!'% #"%' 0CD 9: ADH I6CIDH EJ:7ADH 9: (RM>8D AA:CDH 9: 7:AA:O6 C6IJG6A G:H E6A9696 EDG A6 B6CD 9:A =DB7G: :H :A K:G68GJO6CD /A68DI6AE6C :C :A FJ: :A .JBD #68:9DG EJHD 8J6CID FJ>HD H JC EJ:7AD ?6GD8=D FJ: 6HS 8DBD 86CI6 ?J<6C9D 8DC A6H E6A6 7G6H AD =68: I6B7>RC 8DC :A 8DADG> 9D 9: HJH 86H6H CJC86 ><J6A69D C> DAK>969D :C A6 K>H>UC 9: FJ>:C:H AD K>H>I6C 4 69:BQH IJKD A6 HJ:GI: 9:
$( &
H:G BQH FJ: 6H:CI69D H:CI69D 6 A6 K:G6 9: JCD 9: ADH BQH >BEDGI6C I:H N 86J96ADHDH GSDH 9: A6 G:EV7A> 86 B:M>86C6 :A +6E6AD6E6C .J CDB7G: AD 6CJC8>6 :CIG: 6<J6H 4 EDG :AA6H C6K:<U :C +:9GD 9: AK6G69D H>:C9D :A EG>B:G 8DCI68ID :HE6TDA :C A6 ODC6
C A6 B>I69 9: H><AD 3$3 H: 8DCH IGJNU :A E6A68>D (JC>8>E6A N :A EJ: 7AD H: 9:CDB>CU .6C G>HIU76A
/A68DI6AE6C C G:8>7>U :A ISIJAD 9: 1>AA6 E:GD EDG >CI:G:H:H EDASI> 8DH :C E6HU 6 H:G /A68DI6AE6C 9: +DG;>G>D S6O D H:6 FJ: ADH 86B 7>DH 9: CDB7G:H EDG AD K>HID 9:E:C 9S6C 9: A6H 8>G8JCHI6C8>6H C :A >C 8:C9>D 9: A6 -:KDAJ8>UC 6G9>U :A CDB7G: 9: +DG;>G>D N /A68DI6AE6C H: FJ:9U I6C IG6CFJ>AD H>C 6FJ:A K>: ?D <:C:G6A +:GD H: AA6B: 8DBD H: AA6B: :HI6 EG:8>DH6 8>J969 :H =DN JC6 9: A6H BQH 7:AA6H N B:?DG 8J> 9696H 9:A HI69D K:G68GJO6CD N 8J6CIDH AD K>H>I:C ED9GQC 8DCHI6 I6GAD
# !
,7,= B )96?8>,<4,= 08 06 ,84@0<=,<49 /06 974>F
A ?J:K:H 9:A E6H69D D8IJ 7G: H: 8:A:7GU :A 6C>K:GH6G>D 9:A DB>IR 9: 6B6H 9:A -DE: GD +G>B:GD H: D;>8>U 6 A6 9: A6 I6G9: A6 D7A><696 B>H6 EDG :A +
%DHR AJ:<D :C :A .6AUC 9: ADH 6C9>A:H H: ;:HI:?U :A =:8=D 8DC JC6 :M8:A:CI: 8DB>96 6 A6 FJ: 6H>HI>:GDC 6CI><J6H +G:H>9:CI6H 9:A DB>IR 6B6H FJ: ;J:GDC N A6H FJ: HDC =DN 1DAJCI6G>6H :A .G
6C>:A .JQG:O EG:H>9:CI: 9: A6 .D8>:969 HJ H:TDG6 :HEDH6
!:GC6C9D +:9G6?6 +G:H>9:CI: 9: A6 %JCI6 HE6TDA6 9: DK69DC<6 N HJ H:TDG6 :HEDH6 -6;6:A -J>O EG:H>9:CI: 9:A -:6A AJ7 HE6T6 N HJ :HEDH6 .G6 C6 .D A6C6 9: -J>O :A .G +G:H>9:CI: 9: A6 HD8>68>UC (DCI6T:H6 'J>H +6A68>D A6H .>:GK6H 9: %:HVH 9: A6 6G>969 N BJ8=6H DIG6H E:GHD C6H FJ: EDG ;6AI6 9: :HE68>D DB> I>BDH :C :HI6 CDI6
6 8DCD8:G 96IDH CDB7G:H ;:8=6H 68IDH N 6CR89DI6H FJ: 86H> C69>: 8DCD8S6 )D ED9:BDH 9:?6G 6 JC A69D A6 A67DG 9: A6 +G:H>9:CI6 9: :HI: DB>IR .G6 (6G>8GJO .QC8=:O 8JND IG676?D :C A6 DG<6 C>O68>UC 9: :HI: 6C>K:GH6G>D 8DCHI>IJNU JC6 E:G;:8I6 DG<6C>O6 8>UC 8DCI6C9D 9:H9: AJ:<D 8DC A6 >CK6AJ67A: 6NJ96 9: HJH 6 B6H 9:A DB>IR EDG AD FJ: ED
9:BDH 9:8>G FJ: A: H6A>U G: 9DC9D 4 EDG :H6 B6<CS;>86 G:9DC9:O A6 N A6H ;:A>8>I6BDH 6 8DG6OUC 67>:GID
:H:6BDH 68A6G6G FJ: :C A6 G:K>HI6 9: HD8>6A:H *'P H: EJ 7A>86C DC8: ;DID<G6;S6H G:A68>DC6 96H 8DC A6 8:A:7G68>UC 9: :HI:
C>K:GH6G>D 9:A DB>IR 9: 6 B6H E:GD JC6 9: :AA6H CD ;J: ID B696 :C :A .6AUC 9: ADH 6C9> A:H 9DC9: H: AA:KU 6 867D A6 8D B>96 H>CD :C :A E6H>AAD 9: A6 86E> AA6 6 IG:H >CI:<G6CI:H 9:A 8DGD FJ: 86CIU :C A6 B>H6 '6H 9:BQH HS 8DGG:HEDC9:C 6A 68ID :C :A FJ: =6 7A6GDC 6C>:A .JQG:O +G:H>9:C I: 9: A6 :C:;>8:C8>6 HE6TDA6 N :A 9>G:8IDG 9: ,0c^ .
9K:GI>BDH A6 6JH:C8>6 9: A6 ;DID :C A6 FJ: 6C>:A 9>G><: HJH E6 A67G6H 6 A6 # 8DC8JGG:C8>6 8DBD I6B7>RC 69K:GI>BDH A6 ;6AI6 9: A6 8DGG:HEDC9>:CI: 6 A6 (( .>:GK6H 9: %:HVH 9: A6 6G>969 8DA67DG696H 9:A DB>IR N 9:A 1DAJCI6G>69D =68>:C9D :H6 A67DG FJ: C> H: K: C> H: H67: EDGFJ: :H 86AA696 8DBD 8DGG:HEDC9: 6 8J6AFJ>:G DG9:C G:A><>DH6 FJ: A6 B6CD >OFJ>:G96 CD H:E6 AD FJ: =68: A6 9:G:8=6
A 9>IDG N >G:8IDG 9: FJS^. =>OD JC6 7G:K: =>HIDG>6 9:A DB>IR :C A6 FJ: 9>D # !
$( &
0C6 ;:HI>K>969 G:A><>DH6 FJ: I6CID :C HE6T6 8DBD :C BRG>86 _N :H E:8>6AB:CI: :C (RM>8D I>:C: :H E:8>6A:H 8:A:7G68>DC:H .: DG><>C6 :HI6 ;>:HI6 EDG ADH 8J6G:CI6 9S6H 9:H EJRH 9:A )68>B>:CID 9: G>HID 8J6C 9D 6A ;>C6A 9: :AADH %DHR N (6GS6 AA: K6GDC 6A )>TD 6A I:BEAD 9: %:GJH6ARC E6G6 8JBEA>G 8DC :A G>ID ?J9SD 9: A6 +JG>;>868>UC FJ: H><J: 6A 6AJB7G6 B>:CID 96C9D 9: :H: BD9D A6 8DH IJB7G: 9: 8:A:7G6G A6 !>:HI6 9: A6 +JG>;>868>UC :H 9:8>G A6 6C9:A6G>6 CDB7G: FJ: 8696 6TD 9: ;:7G: GD I6CID :C HE6T6 N E6GI>8JA6GB:C I: :C A6H 6C6G>6H I>:C: G:HDC6C8>6 C68>DC6A C A6 >J969 9: (RM>8D AA: K6 :H: CDB7G: JC EDEJA6G 76GG>D A6 6C9:A6G>6 9: ADH +6IDH
A =Q7>ID 9: A6 8J6G:HB6 C68: 9: FJ: A6 CJ:K6 B69G: 9:7S6 E:GB6 C:8:G :C HJ 86H6 9S6H AA:K6C9D JC6 K>96 9: ED86 68I>K>969 G:A68>D C6C9D 8DC ;JC96B:CID :HIDH 9S6H 9: A6 K>96 9: A6 1>G<:C (6GS6 +:GD :HD :G6 6CI:H EDGFJ: =DN 9:H9: AJ:<D C>C<JC6 BJ?:G AD =68: EJ:H N6 :H CDGB6A K:GA6H :C JC6 ;>:HI6
9 <:7AI 23 /:/@ 239 '<=3 ?< 23 ;B3@A?/ 3;34713;17/ 6/ @B
8DC HJ C>TD 9: 9S6H 9: C68>9D :C 7G6ODH 6CI:H 9: ADH FJ>C8: 9S6H 9:A 6AJB7G6B>:CID N 6A 6TD :A C>TD N6 K6 6 A6 :H8J:A6
'6H ;>:HI6H G:A><>DH6H N E6<6C6H G:FJ:GS6C K:A6H BJ8=6H K:A6H A:H 9:8S6C A6H 86C9:A6H .: K:C9S6C :C EJ:HIDH N :C A6H ><A:H>6H 6CJC8>6C 9D A6 6C9:A6G>6 '6H 86C9:A6H D K:A6H :G6C N AD H><J:C H>:C9D :A6
7DG696H N 69DGC696H EGD;JH6B:CI:
C (RM>8D :H :A 9S6 9: A6 I6B6A696 A6 FJ: =6 9: E6<6G FJ>:C =6N6 :C 8DCIG69D :A BJT:8D :C A6 -DH86 9: -:N:H 0C6 9: A6H ><A:H>6H ED EJA6G:H 9: 76GG>D :H EG:8>H6B:CI: A6 9: A6 6C9:A6G>6 :C A6 K>:?6 (:G 8:9
+:G:8: H:G FJ: :A DG><:C 9: A6H K:A6H 69DGC696H :H BDGD EJ:H :C ADH 76O6G:H 9: 6B6H8D H>:BEG: =6N :MEJ:HI6H 86C9:A6H 9:8DG6 96H
4 260=4, /0 , ,8/06,<4, 08 6, @405, 0<.0/
4?72< 9/ =I?272/ 23 B;/ 23 @B@ :H@ /;A75B/@ F /1A7C/@ /:/@ #/?J/
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
$( &
# !
.:H>UC 9:A 9: B6ND 9: 0C 86HD E6G6 ->EA:N .: 96 A:8IJG6 6 JC6 86GI6 :CK>696 EDG JC H:TDG AA6B69D -JE:GID 6:C6 :C A6 FJ: 9>8: FJ: HJ ISD 9:?U JC A: <69D 9: B>A E:HDH 6 A6 :C:;>8:C 8>6 HE6TDA6 E:GD FJ: :A ISD =>OD EDC:G JC6 8AQJHJA6 :C A6 FJ: 96 6 HJ HD7G>CD JC EA6OD 9: IG:H 6TDH E6G6 8JBEA>G 8DC A6H 9>HED H>8>DC:H I:HI6B:CI6G>6H 4 6FJS 6E6G:8: A6 ES86G6 86G6 9: A6 BDG 9>96 :A HD7G>CD 8DBJC>86 :C HJ 86GI6 FJ: H> A6 :C:;>8:C8>6 A: 67DC6 JC I6CID EDG 8>:CID A: :C IG:<6GS6 AD FJ: HJ ISD A: 9:?U 6 A6 .D8>:969 H>C FJ: ;J:G6 C:8:H6 G>D :HE:G6G ADH IG:H 6TDH >BEJ:H IDH EDG :A <:C:GDHD 9DC69DG +:GD /:ARH;DGD H>:BEG: 6 A6 9:;:C H6 9: ADH >CI:G:H:H 9: A6 $CHI>IJ 8>UC 9>8: FJ: 9: A6 86GI6 H: 9:HEG:C9: FJ: :HI6 EA6OD CD :H D7A><6IDG>D H>CD ;68JAI6I>KD N FJ: 9:7: :H8G>7>GH: 6A 6K>HE69D HD7G> CD =68>RC9DA: EG:H:CI: FJ: H: IG6I6 9: 9>C:GD 9: ADH ED7G:H N FJ: EDG 8DCH><J>:CI: CD H: EJ: 9: =67A6G 9: 67DCDH C> 9: 9:H 8J:CIDH +DG I6CID :A HD7G>CD CD EJ9D =68:G :A C:<D8>D FJ: H: IG6S6 :CIG: B6CDH
0CD 9: ADH 6C8>6CDH 9:A H>AD FJ: EDG HJ >CIDA:G67A: 8DC9J8I6 H: A: :MEJAHU ;J: 6 96G 6 A6 6H6 9: H>AD 9:A C8>6CD 9: "J696AJE: #<D E:GD 8DBD HJ 8DBEDGI6B>:CID CD :G6 HJH8:E I>7A: 9: G:<:C:G68>UC A6 :C86G <696 9:A 8>I69D H>AD E>9>U 6 A6 :C:;>8:C8>6 HE6TDA6 FJ: H: A: 69B>I>:G6 :C CJ:HIGD H>AD N 8A6 GD 9696 HJ B6CS6 6 H:G JC G: 7:A9: 8DC 86JH6 N CD B:G:8: 9DG 9: JC :HIG:AA>I6 :C A6 ;G:CI: N K>:C9D FJ: CD =67S6 EDH>7>A>969 9: =68:GAD 7J:CD EJ:H A6 B>H B6 :C;:GB:G6 9:8S6 EDG >CHDEDG I67A: H: A: 8DCI:HI6 FJ: CD H: A: EJ:9: G:8>7>G EDGFJ: 8DC;DGB: 6A -:<A6B:CID N :C K>GIJ9 9: A6 B6A6 8DC9J8I6 FJ: :A :C;:GBD D7 H:GKU 6CI:G>DGB:CI: :C CJ:HIGD H>AD CD :H EDH>7A: 688:9:G 6 AD FJ: E>9: \,JR HJ8:9>U 8DC 6FJ:A >G6H8>7A: E6>H6CD 'D ><CD G6BDH
# !
+DG H> JHI:9 CD AD H67: A: 9>G:BDH FJ: :C JC ;:7G:GD E:GD 9: H: 8DB:CO6GDC A6H D7G6H 9: :HI: #DHE>I6A HE6TDA N H>:I: 6TDH BQH I6G9: 9: 6<DHID 9: ;J: A6 >C6J<J G68>UC ] 6= CD I>:C: >BEDGI6C 8>6 AD H67:BDH E:GD CD :HIQ 9: BQH H67:G :HI6H E:FJ:T6H 8DH6H 9: CJ:HIG6 :C:;>8:C8>6
/D96H A6H <J:GG6H HDC H6C <G>:CI6H #6HI6 A6H FJ: DG<6C> O6C ADH 6B7JA6CI:H +:GD A6 BQH H6C<G>:CI6H D JC6 :C A6H FJ: BQH =:BD<AD7>C6 H: :8=U 6 E:G9:G ;J: A6 AA6B696 9: A6 /G>EA: A>6CO6 D H:6 FJ: ;J: 9>K:GI>9SH>B6 /D9D H: DG><>CU EDG :A 9:H:D 9:A EG:H>9:CI: E6 G6<J6ND !G6C8>H8D .DA6CD 'UE:O 9: 69FJ>G>G JC6 EDH>8>UC <,8.4=.9 &96,89 I:0C 9: B6NDG >C;AJ:C8>6 :C 6FJ:AA6 G:<>UC HJ96B:G>86C6 FJ:A 6B7>8>DHD 9:H:D IJKD 8DBD :H8:C6G>D 6 +6 G6<J6N N ADH E6SH:H 6A>69DH G6H>A 0GJ<J6N N G<:CI>C6 ID9DH 6 G>IBD 9: A6 JBE6GH>I6 N HJ 9JG68>UC :M68I6B:CI: JC H:M:C>D 9: 6
]0C HJHE>GD K6N6 .: 8DCH>9:G6 A6 BQH 8GJ:CI6 9: A6 =>HIDG>6 =>HE6CD6B: G>86C6 EJ:H :C :H: :C8DCIGDC6OD A6 ED7A68>UC E6G6<J6N6 9:
E6G6<J6NDH H: G:9J?D 6
N 9: RHIDH HD7G:K>K>:CI:H :A :G6C BJ?:G:H FJ: 9:H9: AJ:<D BQH 9: A6 B>I69 H: =67GQC FJ:969D 9:7>96 B:CI: HDAI:G6H
4 :H6H E:FJ:T6H 8DH6H FJ: 86H> C69>: H67: C> I>:C: :C 8J:CI6 E:GD A6H EG>B:G6H BDC:96H 68JT696H :C #>HE6CD6BRG>86 H: :A67DG6GDC :C (RM>8D :C 4 K:6 JHI:9 :A 8JAI>KD 9: A6 C6G6C?6 ;J: >CIGD9J8>9D :C (RM>8D :C N AD H:<J>BDH IDB6C9D EDG A6H B6T6C6H 8DC :A 9:H6NJ CD ],JR 8DH6H 4 EJ:HID 6 8DCI6G 9: ID9D H:E6 JHI:9 FJ: :A EG>B:G 8JAI>KD >CIGD9J8>9D :C :A )J:KD (JC9D EDG ADH :HE6TDADI:H 9: $H67:A N 9: !:GC6C9D ;J: A6 86T6 9: 6OV86G :C
HI6 EA6CI6 :H DG><>C6G>6 9: A6 $C9>6 N IG6H JC6 ;Q8>A 696EI68>UC H: 9>;JC9>U EDG J76 (RM>8D N :A G:HID 9: :HI: 8DCI>C:CI: FJ: <G68>6H 6 >DH ID96KS6 H><J: =67A6C9D :C A6 A:C<J6 9: :GK6CI:H 6 E:H6G 9: ADH EG:H:CI69DG:H 9: A6 I:A:
A I:C>:CI: ":C:G6A %J6C *a DCD?V FJ: ;>GBD 8DC $IJG7>9: A6 $C9: E:C9:C8>6 :C A6 8>J969 9: UG9D76 1:G =67S6 ;DGB69D E6GI: :C (69G>9 9:A >CI:CID 9: 6H:H>C6G 6 !:GC6C9D 1$$ '6 8DCHE>G68>UC I:CS6 JC CDB7G: BJN <:DBRIG>8D A /G>QC<JAD
'DH B>C>HIGDH =DN I6C E6KDH I6C EG:HJCIJDHDH EDG 9DC9: H: A:H B>G: 9:7:GS6C 8DCD8:G :A DG><:C 9: A6 E6A67G6 B>C>HIGD .: A: 9:8S6C B> C>HIG>A 6A B>C>HIGD 9: %JHI>8>6 BJN >C;:G>DG 6A 6A<J68>A :A FJ: EDG D;>8>D I6TS6 6A<VC >CHIGJB:CID 9: K>:CID :A FJ: :C ;JC8>DC:H G:A><>DH6H ID8676 6A<VC >CHIGJB:CID I6B7>RC 9: K>:CID C :A H><AD 3$3 H: A:H 9:8S6 B>C>HIG>A:H 8J G>DHDH 6 ADH E6H6CI:H 9: :G:8=D #DN A6 E6A67G6 B>C>HIGD N HD7G: ID9D H> :H EG>B:G D EG:B>:G H> :H >C<ARH =6N FJ: A6K6GH: A6 7D86 6CI:H 9: EGDCJC8>6G HJ CDB7G:
$( &
A 9S6 9: ;:7G:GD 9S6 9: A6 6C 9:A6G>6 9: :A 69:A6CI69D 9:A -SD 9: A6 +A6I6 +:9GD 9: (:C9DO6Y :C JC>UC 9: HJH 8DBE6 T:GDH H:T6AU :A :BEA6O6B>:CID 9: AD FJ: 8DC :A I>:BED ;J: JC6 9: A6H 8>J969:H BQH 7:AA6H 9: A6 BRG>86 9:A .JG 6 A6 FJ: H: A: 9>D :A CDB7G: 9: >J969 9: A6 .6CISH>B6 /G>C>969 N +J:GID 9: .6CI6 (6GS6 9: ADH J: CDH >G:H JC ED8D A6G<D 8A6GD E:GD :C 6FJ:A I>:BED CD I:CS6C I6CI6 EG> H6 8DBD A6 I:C:BDH =DN N H: A: EJHD :H: CDB7G: :C G:8J:G9D 9: A6 8D;G69S6 G:A><>DH6 9:A EJ:GID 9: Q9>O I>IJA696 9: )J:HIG6 .:TDG6 A6 1>G<:C (6GS6 9: ADH J:CDH >G:H 6 A6 8J6A E:GI:C:8S6C 8DBD 8D;G69:H ID9DH ADH :ME:9>8>DC6G>DH
0C ED8D 9:HEJRH AA:<U 6GADH "6G9:A E6G6 86CI6G 8DC ID96 A6 IG>H
I:O6 FJ: HDEDGI676 :A E:CI6<G6B6 (> J:CDH >G:H FJ:G>9D 1DAK:G N
BJ8=DH DIGDH BJH>86A:H A6B:CIDH 6 G>IBD 9:
]/6B7>RC H: HJ7: A6 A:8=: N :A 6IDA: 8J6C9D CDH 9:HE>HI6BDH C :A >G:8IDG>D /:A:;UC>8D 9: A6 >J969 9: (RM>8D 9: =68: C696 6TDH A:S JC 6CJC8>D FJ: :H JC 6J IRCI>86 E:GA6 N EDG :AAD CD B: 6<J6C ID EDG :CH:TQGH:A6 6 JHI:9 A ISIJ AD 9:A 6CJC8>D N6 I>:C: AD HJND ' +-$( -* ) (P3$ * N 6=DG6 A:6
:A I:MID 8DE>69D A>I:G6AB:CI: 'DH E6GRCI:H>H HDC BSDH A >CB:?DG67A: N 68G:9>I69D 6G 7UC 9: :C8>CD <G6C9: A>BE>D N 9J G69:GD :A HJ8>D H:GS6 :A 86G7DC:GD N CD BJN ]9JG69:GD EJ:HID FJ: N6 CD :HIQ :CIG: CDHDIGDH 9:H9: AJ: <D :C HJ JHD EDG A6 B6<CS;>86 :A6 7DG68>UC N EDG K:C>G :C 8DHI6A:H 9: B6G86 FJ: 6 ADH B:?DG :G6C 9: 56G6
.: AA:K6 6 9DB>8>A>D ID9DH ADH 9S6H :M8:EID ADH ;:HI>KDH ]HS HS EJ:H N6 H: <J6G9676C A6H ;:HI>K>96 9:H :A B>HBD 9S6 N CD A6H E6H676C 6A AJC:H 8DBD =68:BDH 6=DG6 9:H9: JC 8DHI6A 7>:C AA:CD N 8DE:I:69D =6HI6 A6 86CI>969 FJ: H: E>96 N JC I6CFJ: 9: <6H CD :H 8DE:I:67A: EDG AD FJ: A6 H>H6 :HD FJ: =68:C A6H H>GK>:CI6H 8J6C9D H: A: B6C96 EDG :A E6C :H 6 ID9D <6H HI: 86G7UC 6GC:69D D H:6 8G> 769D N 7>:C A>BE>D H: K:C9: 6
8:CI6KDH A6 6GGD76 N H> JHI:9 =68: 8J:CI6H H6AS6 :A @>AD 8DBD 6 9DH 8:CI6KDH N E>O86 :C :A 9:EUH>ID 9: 9>8=D H: G:;:G>GQ 6 A6 86G7DC:GS6 N :C A6 HJ8JGH6A Z : A6 +>A6 .:86 ?JCID 6A )D :C 9DC9: H: 96GQ 8DC A6H B>HB6H K:CI6?6H :M><>:C9D A6 B6G86 ! *H:H FJ: AA:K6C ADH 8DHI6 A:H D H:6 A6 <6G6CIS6 9: A6 EJG:O6 9:A 6GIS8JAD BQH EJGD FJ: A6 A:8=: FJ: =DN 8DBEG6BDH :C 8J6AFJ>:G I>:C96 +:GD CD 68676 6=S :A 6CJC 8>D HI6 86H6 I>:C: JC 7J:C HJGI>9D 9: 86GGDH <J6N>C:H 6 ;A:I: 86B>DC:I6 E:FJ:T6 9: 86G<6 FJ: H: JI>A>O6 EG>C 8>E6AB:CI: :C 6<G>8JAIJG6 E6G6 H686G 86G<6 9: A6 9J6C6 N HI68>DC:H N 8DC9J8>GA6 6 A6H B>HB6H
4 G:B6I6 8DC :HI6 EG:8>DH>969 6G7UC H>C ><J6A (J8=D J:CD N 6G6ID HUAD ;6AIU FJ: I6B7>RC ;J: G6 7DC>ID
>G><>GH: 6 Z 9: "J:GG:GD )D
I:A
$( &
?8/,.4I8 /0 ?089= 4<0=
# !
.> 6A<VC G:N 9:A H><AD 33 HJ;G>U 6I:CI69D IG6H 6I:CI69D RH: ;J: A ;DCHD 3$$$ N CD HUAD N6 9: 86H69D N IG676?6C9D 9: G:N 9: HE6T6 +D9GS6 E:CH6GH: FJ: 6A H:G :A CVB:GD I6C 9: B6A6 HJ:GI: :G6 ?JHID N C: 8:H6G>D FJ: ;J:G6 :A 7A6C8D 9: 8J6A FJ>:G 6I:CI69D C ID96KS6 HDAI:G>ID =>OD JC K>6?: EG>B:GD 6 +6G>H N AJ:<D ]8A6GD 6 'DC9G:H EJ:H :CIDC8:H :G6 8DBD >G 6 .6C I>6<D N CD E6H6G 6 K:G A .6AK69DG :C A6 86I:9G6A 9: *K>:9D +DG :HD H: 9:8S6 FJ: EG>B:GD H: K>H>I676 6A BD
N AJ:<D 6A G>69D ]4 CD :H 8DH6 BS6 \:= CIG: ADH BJ8=DH 6<6H6?DH FJ: A: D;G:8>:GDC :C A6 AA6B676 >J969 'JO :HIJKD JC6 ;JC8>UC :C :A I:6IGD 9: A6 dE:G6 >CK>I69D EDG :A EG:H>9:C I: 9: ADH ;G6C8:H:H .G 'DJ7:I N 6A G:<G:H6G EDG A6 86AA: 9: -D=6C :C 86GGDO6 67>:GI6 68DBE6T69D EDG :A 8>I69D EG:H>9:CI: =:I: 6FJS FJ: JC 6C6GFJ>HI6 H>C I6E6GH: A6 86G6 8DC JC E6A>686I: 8DC A6 86B>H6 D 8J6A FJ>:G DIGD IG6ED A6COU 6A 86GGJ6?: JC6 7DB76 FJ: <G68>6H 6 >DH CD
:G6 JC6 BDADIDK 4 A;DCHD IJK: HJ:GI: EJ:H I6CID RA 8DBD HJ 68DBE6T6CI: H6A>:GDC H>C JC G6H <JTD ADH FJ: HS IJK>:GDC ADH ED7G:H 8676AADH
*IGD 9S6 G:<G:H6C9D 9: 96G JC E6H:D BJN B6IG>BDC>6A :HD HS IJ K>:GDC DIGD 6I:CI6C9D FJ: H:<JG6 B:CI: A:H =67GQ 9:HI:GC>AA69D 9: G>H6 N AJ:<D 6A 6TD H><J>:CI: 9S6 9: HJ 7D96 K>K>:GDC DIGD 7DB76 OD FJ: EDG ;DGIJC6 6 :AADH CD A:H E6HD C696 E:GD HS 6 <:CI: 9:A EV 7A>8D N 6ED7G:H 8676AADH FJ: CD <6C676C E6G6 HJHIDH A6GD A6 G:>C6 BJN >C<A:H6 :AA6 =67GQ :M 8A6B69D ]"D9 ;DG<>K: B:
>08>,/9= , 6198=9 * 08 #,<G=
A EG>B:G DC %J6C AD :H8G>7>U "67G>:A /RAA:O BQH 8DCD8>9D 8DBD />GHD 9: (DA>C6 6JIDG 9: A 7JGA69DG 9: .:K>AA6 :A EG>B:G /:CDG>D .DC H:>H 9DC ?J6C:H 9: A6 A>I:G6IJG6 JC>K:GH6A :A 9: />GHD N :A 9: 5DGG>AA6 ADH 9DH :HE6TDASH>BDH :A ;G6C8RH 9: (DA>:G: :A >C<ARH 9: ADG9 NGDC :A GJHD 9: +JH=@>C N :A 6A:BQC 9: (DO6GI 0C =>HIDG>69DG :HE6TDA .6AK69DG 9: (6<6G>6<6 ?JCIU 6 ADH H:>H %J6C:H :C JC6 D7G6 I:6IG6A FJ: AA6BU DC %J6C N A6 DC?J6CS6 N ADH B:I>U :C JC6 I67:GC6 :C A6 FJ: ADH H:>H 9>H8J I:C 8DBD :H 9:7>9D D H:6 6 <G>IDH :HE696ODH E:A:6C9D 8696 JCD EDG HJ $CRH JH6C9D 8696 JCD A6 B>HB6 BRIG>86 9:A DG><>C6A .: AS6C 6 :HE696ODH :A 9: (DA>RG: N :A 9: 5DGG>AA6 N K>:C9D FJ: A6 8DH6H >76C :C H:G>D :A 9: +JH=@>C A: E>9: 6A 9: NGDC FJ: ADH 8DCI:C<6 N RHI: A: 8DCI:HI6 8DBD 7J:C >C<ARH FJ: RA :HIQ EDG A6 CD >CI:GK:C8>UC G:;>G>RC9DH: 9:H9: AJ:<D 6 A6 EDASI>86 IDB696 EDG ADH >C<A:H:H :C A6 "J:GG6 >K>A :HE6TDA6 9: A6 )D $CI:GK:C8>UC A ;>C6A 9: A6 D7G6 H6A: 6CI: :A 6HDB7GD 9: ID9DH A6 9DT6 $CRH 9: 5DGG>AA6
HI: 6JIDG 9G6BQI>8D C68>9D :HE6TDA :C :HIJ9>U :C A86AQ 9: #:C6G:H N :C :969 B69JG6 IDBU :A =Q7>ID 9: A6 (:G8:9 0C6 9: HJH 8J6A> 969:H ;J: :A 9:H:C;69D 8DC FJ: B6C:?U :A >9>DB6 AD FJ: FJ:9U E6I:CI: :C HJH CJB:GDH6H D7G6H :HE:8>6AB:CI: :C A6H I:6IG6A:H B6C:?6C9D :A 6HJCID 9G6BQI>8D 8DC A6 B>HB6 ;68>A>969 FJ: :A =JBDG
# !
'4<=9 /0 9648,
$( &
].S =DB7G: AD E:G9>BDH :C A6GD D;G:8S6 BJN B6A 86G>O A6 H>IJ68>UC :C :A E6SH 9: ADH ;69DH ]I6C IG>HI:H ID9DH :AADH A6 8J6A H: 6<G6KU 8J6C9D H: G:8JGG>U :C HDA>8> IJ9 9: 9>C:GD N 9: =DB7G:H E6G6 A6 <J:GG6 9: 6I6AJT6 N 8A6GD :HI6AAU A6 8DCHE>G68>UC :A [ 9: 9>8>:B7G: 9: 6 ;6KDG 9:A 9JFJ: 9: G6<6CO6 FJ>:C :A BJN 7G6<69D ;J: EGD8A6B69D G:N 8DC :A CDB7G: 9: %J6C $1 N 9:H9: :H: BDB:CID EJ9D 8DCH>9:G6GH: E:G9>9D +DGIJ<6A 8DC HJH EDGIJ<J:H:H 9:CIGD ;69DH N 67JC96C8>6 9: H6G9>C6H 69:BQH 9:A G>FJSH>BD K>CD 9: *EDGID N BJ 8=6H DIG6H 8DH6H :CIG: A6H FJ: =6N FJ: 8>I6G :A 7686A6D 6 A6 EDGIJ<J: H6
DBD :C JC <G6C :H8:C6G>D I:6IG6A 8DBEJ:HID 9: K6G>DH EA6 CDH :A E>CIDG %DHR -:C6J EDC: :C :H8:C6 6 ADH BQH 8DCHE>8JDH EGDI6<DC>HI6H 9: A6 =>HIDG>6 :H E6TDA6 9: ADH H><ADH 31 N 31$
/D9DH B>G6C =68>6 JC =DG>ODCI: >C;>C>ID 8DBD H> :A 6GI>HI6 A:H :H IJK>:G6 AA6B6C9D A6 6I:C8>UC E6G6 EA6HB6GADH :C :A BJG6A 9:A 8DB: 9DG 9:A 6H>CD 9: A6 .:AK6 '6 ;6B>A>6 >BE:G>6A 6GADH 1 !:A> E: $$ N ADH 67J:ADH $H67:A N !:G C6C9D 6 HJ A69D ADH B6G>CDH FJ: H: 6ED9:G6GDC 9: ADH B6G:H :A EDGIJ<JRH (6<6AA6C:H 6A H:GK> 8>D 9: AD DGDC6 :HE6TDA6 .:76HI>QC A86CD FJ: A: 8JED A6 <ADG>6 9: H:G :A EG>B:GD :C 8>G 8JC96G :A <AD7D DAUC FJ: IG6 OU :A 86B>CD HD7G: A6H 6<J6H E6G6 FJ: DIGDH A: H><J>:G6C N (6GISC ADCHD +>COUC :A <G6C E> ADID 9: '6 +>CI6 C :A EA6CD >C ;:G>DG 8>C8D I>I6C:H 9: A6 #>HE6 C>969 DGIRH FJ: CD C:8:H>I6 8DB:CI6G>DH +:9GD 9: AK6G69D $( &
8 2?0<<, .98 #9<>?2,6
+>O6GGD >:<D 9: AB6<GD N 16H8D )VT:O 9: 6A7D6 '6 K6C<:A>O68>UC :HIQ G:EG:H:CI6 96 EDG 8J6IGD ;G6>A:H H>C CDB7G: E:GD 76HI6GS6 AA6B6GADH (DIDA>CS6 (6GISC 9: 16A:C8>6
D 8J6AFJ>:G6 9: ADH DIGDH 9>:O FJ: K>C>:GDC 8DC :HIDH 9DH '6 <6C69:GS6 A6 B6FJ>C6G>6 9: <J: GG6 ADH 6E:GDH 9: A67G6CO6^ /D9D 6GBDC>O69D :C JC 6B7>:C I: 9: >CI:CHD 9G6B6I>HBD
# !
CIG: A6H BJ8=6H B6G6K>AADH6H ?DN6H 6GFJ>I:8IUC> 86H FJ: <J6G96 A6 8>J969 9: ,J:GRI6GD :C HJ H:CD H>C 9J96 JC6 9: :AA6H :H HJ 68J:9J8ID FJ: H: 9:7: 6
%J6C 9: 0GGJI>6 N G6C6 B6GFJRH 9: A6 1>AA6 9:A 1>AA6G 9:A b<J>A6 .: 8DB:COU :A 9: :C:GD 9: N H: I:GB>CU :A 9: D8IJ7G: 9: BE:O676 :C :A AJ <6G AA6B69D '6 6T696 N 9:HEJRH 9: 8DGG:G @>AUB: IGDH I:GB>C676 :C A6 86?6 9: 6<J6 G:E6GI>9DG6 :C A6 +A6 OJ:A6 9: A6 GJO DCHI676 9: 6G8DH 9: 86CI:GS6 N HJ 6AIJG6 B6NDG 6A86CO676 ADH B:IGDH 8DC JC6 A6I> IJ9 9: B:IGDH HDHI:C>9DH EDG E>A6HIG:H 9: B6BEDH I:GS6
/JKD JC 8DHID E6G6 :A B6GFJRH 9: E:HDH N 6 ADH =67>I6CI:H 9: E:HDH HJB6C9D JC IDI6A 9: E:HDH AD FJ: =DN 8J:HI6 JC6 86H:I6 E6G6 :A E:GGD :C A6H 'DB6H 9>H:T696 EDG -6BSG:O 1QOFJ:O D 6A6IG6K6 C G:8DCD8>B>:CID 6A B6GFJRH H: A:K6CIU JC6 :HI6IJ6 :C 6FJ:AA6 8>J969 :C FJ: BQH I6G9: N :C BDK>B>:CIDH EDASI>8DH 8DBD ADH 9: :HI6 I:AVG>86 68IJ6A>969 ;J: 9:HIGJ>96 EDG ADH B6ADG6H 9: 6N:G
(:CDH B6A FJ: 9:HEJRH DIGDH B:?DG:H N 8DCH8>:CI:H 9: FJ: A6 =>HIDG>6 H:6 A6 FJ: H:6 =6N FJ: G:HE:I6GA6 A6 G:EJH>:GDC
=>,>?, /06 1?8/,/9<
.?0/?.>9 /0 $?0<F>,<9
# !
$( &
"
,:466, /0 '6,A.9,;?0
\'6 G:8J:G96 A ;>C6A 9: 9: )DK>:B7G: 9DC9: :HI676 :A K>:?D :9>;>8>D 9: /GQCH>ID =6N JC6 E:FJ:T6 ><A:H>6 FJ: EDG HJ:GI: CD =6 H>9D 9:GG>7696 8DBD I6CI6H DIG6H A 67G>G A6 8>I696 :A:<6CI: 86AA: FJ: C68: :C :A 5U86AD N BJ:G: 6A ;>C6A ]8DBD ID9D 8A6GD H: G:HE:IU 6 :HI6 E:FJ:T6 86E>AA6 FJ: =67S6 H>9D A:K6CI696 EDG 9DC68>UC 9: JC6 H:TDG6 9>8: A6 8GUC>86 FJ: JC6 >C9>6 EG>C8>E6A 9DT6 (6GS6 !G6C 8>H86 K:8>C6 9:A 76GG>D 9: 86IAQC FJ: 6HS H: AA6B676 6FJ:AA6 E6GI: 9: A6 K>:?6 8>J969 N :AA6 9DC (6GS6 !G6C8>H86 9DCU A6 >B6<:C 9: A6 +JGSH>B6 DC8:E8>UC :A 9: H:EI>:B7G: 9: '6 ><A:H>6 AJ8: G:;DGB696 9:H9: :A H><AD 31$$$
.><J: HDA6 8DBD 9>8>:C9D HS 6FJS :HIDN 6 E:H6G 9: ID9D N 9: ID9DH '6 GD9:6C QG7DA:H ?6G9>C:H N E6G6 B6NDG :C86CID A: =6C EJ:HID :C A6 EA6O6 JC HJGI> 9DG :C :A FJ: 6A EDC:GH: :C ;JC8>DC6B>:CID H: B:I: A6 <:CI: 6 IDB6GH: JC 76TD EDGFJ: :C HJ 86H6 CD I>:C:C C> E6G6 JC 86C6G>D
"/ =<9JA71/ 3@ >B7GH 9/ M;71/ =?<43@7L; =/?/ 9/ >B3 ;< @3 1<; @723?/ ;313@/?7/ =?3=/?/17L; /9 5B;/ '<03?A (A3C3;@<; B/;2< C3/@ B; 6<:0?3 0B3;< =73;@/ 3; 7:7A/?9< B/; 2< C3/@ B;< :/9< 3E/:7;/ AB =?<=7< 1<?/GL; <;4B17< "/ 1?JA71/ ;< @3 ?3473?3 A/;A< /9 >B3 9/ ?31703 1<:< /9 >B3 9/ 9/;G/ / :3;B2< >B73; 1?7A71/ @3 1<;473@/ ,/F;3 F3? (73:=?3 >B3 3;@3K3@ 3;@3 K/ / 2B2/? 23 9< >B3 3;@3K3@ %?A35/ F /@@3A "/ 5B3??/ CB39C3 3@AM=72< /9 C3;132<? F ?3;1<?<@< /9 C3;17 2< ?732?7167 $73AG@163 (/032 >B3 1B/;2< B;< 3@ /:75< 23 @J :7@:< 9< 3@ A/:07I; 23 A<2< 39 :B;2< +7C3@ "/ 173;17/ :<23?;/ /M; ;< 6/ =?<2B172< B; :3271/:3;A< A?/;>B797G/2<? 1<:< B;/@ =/9/0/@ 0<;2/2<@/@ (75:B;2 ?3B2 - 9< 278< (/; 5B@AJ; >B3 ;/ 17L 3; 39 23 ?7@A< 4B3?G/ 23 C3?9< A<2< @3 A3?:7;/ =<? /13=A/?9< A<2< 4B3?G/ 23 @<=<? A/?9< A<2< @3 A3?:7;/ =<? A<93?/? 9< A<2< 4B3?G/ 23 A<93?/?9< A<2< A3?:7;/:<@ /13=AH;2<9< A<2< 4B3?G/ 23 /13=A/?9< A<2< 47;/9 :3;A3 9< /=?<0/:<@ A<2<
C :HI6 K>:?6 86HDC6 9: HUG9>9D 6HE:8ID J7>8696 :C A6 86AA: 9: .6C %:GUC>BD N FJ: ;DGB6 E6GI: 9: A6 ><A: H>6 9: .6C (><J:A +>CD .JQG:O : $O6O6<6 :HIJKD AD FJ: ED9GS6 AA6B6G H: :A EG>B:G 6H>AD 9: CJ:HIG6 :C:;> 8:C8>6 '6 .D8>:969 CD I:CS6 9UC9: G:8D<:G 6 ADH ?J7>A69DH :HE6TDA:H E:GD 6 RHIDH EDG HJ:GI: CD :G6C BJ8=DH H: A:H B6C9676 6 JC 8J6GID 9: 8J6IGD 86B6H 6AFJ>A69D :C A6 8>I676 ><A:H>6 =6HI6 FJ: 6A 6AFJ> A6G JC6 H6A6 :C :A #DHE>I6A 9: .6C +67AD H: A:H AA:KU 6 A6 FJ: AA6B676 A6 .6A6 HE6TDA6 ,J>:C:H =DN K> K:C :C CJ:HIGDH 6H>ADH ED9GQC K:G A6 9>;:G:C8>6 :CIG: :A 6N:G N :A =DN $( &
,<, 89<>0 /0 6, 260=4, /0 &,8 42?06 08 6, ;?0 =0 >?@9 06 :<470< ,=469 :,<, 5?-46, /9= /0 6, 08014.08.4, =:,H96,
# !
JQCI6H K:8:H =67GQ 86B>C69D JHI:9 EDG A6H 86AA:H N EA6O6H 9:A :CIGD #>HIUG>8D N K>HID 6JCFJ: H:6 9: E6H696 ><A:H>6H 86HDC6H BD CJB:CIDH N :HI6IJ6H H>C H67:G FJR ;J:GDC FJR E6E:A ?J<6GDC 6 A6 =>H IDG>6 9: A6 8>J969 6G JC E6H:D EDG CJ:HIGD :CIGD #>HIUG>8D 6JCFJ: 6 K:8:H H: IDGC6 =>HIRG>8D :H 86B> C6G 9:A 7G6OD 9: A6 =>HIDG>6 C A6H ;DIDH 69?JCI6H K:BDH 9DH :?:BEADH A6 86E>AA6 9:A .:TDG 9: A6 ME>68>UC :C A6 :HFJ>C6 9: :A>H6G>D DBSC<J:O N A6 FJ: :CIDC8:H 8DB:CO676 D I:G B>C676 ':6C9GD 16AA: FJ: H: 67G>U 6A 9:GG>76G 7J:C6 E6GI: 9:A 8DCK:CID 9: .6CID DB>C<D N HJ 8:B:CI:G>D 9DC: :HIJKD :CI:GG69D ;G6N .:GK6C9D /:G:H6 9: (>:G
C H: G:JC>:GDC 6AAS ADH B>MI:86H N ADH O6EDI:86H :C A6 86 E>AA6 9:A -DH6G>D :CIG: A6 9: A6 ME>6 8>UC N A6 ><A:H>6 9:A /:G8:G *G9:C
+:GD 8A6GD I>:C: DIGD 86ESIJAD 9: A6 =>HIDG>6 N CD EG:8>H6B:CI: G:A><>DHD EDGFJ: :A 9: ?JA>D 9: =68: 6TDH ;G:CI: 6 :H6 ><A:H>6 ;JH>A6GDC 6 6A<JCDH 8DB76I>:CI:H G:EJ7A>86 CDH :CIG: :AADH .6CI>6<D 1>96JGG> .:8G:I6G>D ":C:G6A 9:A "D7>:GCD 9:
260=4, /0 6, A:4,.4I8
)J:KD ':UC /DBU (DCI:GG:N N H: 9:8A6GU <D7:GC69DG N 8DB6C96CI: B>A>I6G 9:A HI69D A 86:G :A >BE:G>D 9: (6M>B>A>6CD N :CIG6G A6H ;J:GO6H G:EJ7A>86C6H :C A6 86E>I6A ;J:GDC
#9<>,6 /0 @,82064=>,=
# !
6EG:=:C9>9DH EDG :A ":C:G6A +DG;>G>D S6O N ;JH>A69DH :C :A 6IG>D 9: .6CID DB>C<D ;G:CI: 6 A6 ><A:H>6 B:C8>D C696
4 ;G:CI: 6 A6 8>I696 86E>AA6 ID96 KS6 :HIQC ADH EDGI6A:H FJ: ID9DH 8D CD8:BDH 8DBD 9: ADH :K6C<:A>H I6H FJ: 6CI:H :HIJK>:GDC :C :A EDG I6A 9: A6H 6H6H 9:A 67>A9D AAS H: K:S6C N H: H><J:C K>:C9D E:GHD C6H FJ: CD H67:C :H8G>7>G D FJ: CD I>:C:C BQFJ>C6 D 8DBEJI69DG6 E6G6 =68:GAD 9>8I6C9D 6A :K6C<:A>HI6 AD FJ: FJ>:G: 9:8>GA: 6A CDK>D D 6 HJH E69G:H N :A :K6C<:A>HI6 8DBEDC: A6 B>H>K6 6 HJ E6GI>8JA6G :HI>AD
)JC86 H: HJED D CJC86 H: 9>?D :A EDGFJR 9: :H: CDB7G: I6C 7S7A>8D
/6A K:O ;J: EDG G:A68>DC6GADH 8DC ADH 8J6IGD K6C<:A>HI6H :C AJ<6G 9: AA6 B6GADH B:BDG>6A>HI6H FJ: H:GS6 AD 8DGG:8ID '6 - 9:;>C: :HI: CDB 7G: 8DBD A6 E:GHDC6 FJ: EDG D;>8>D :H8G>7: B:BDG>6A:H N 8J6A:HFJ>:G6 DIGD 9D8JB:CID FJ: H: A: E>96
$( &
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
.: IG6I6 9:A FJ: =>OD E6G6 HJ A> 7GD bG7DA 9: D9>D :A CDGI:6B:G>86 CD +=>AA>EH 2 +DL:AA EGD;:HDG 9: A6 0C>K:GH>969 9: .6C %DHR 6A>;DGC>6
HE6T6 A6 EG>B:G6 EDI:C8>6 8JB7G: 9: ADH I>:BEDH BD9:GCDH ;J: EG::B>C:CI: :C JGDE6 N HD7: G6C6 9: JC >BE:G>D FJ: :BE:FJ:T: 8>U 6 ADH 9: -DB6 N ":C<>H &6C
H>B>HBD ;J: A6 EG>B:G6 EDI:C8>6 <AD76A FJ: 6HJB>U AD FJ: K>CD 6 AA6 B6GH: A6 86G<6 9:A =DB7G: 7A6C8D N H>BJAIQC:6B:CI: 9:;:C9>U 6A (JC 9D G>HI>6CD 8DCIG6 ADH ;J:GI:H :B 76I:H 9:A >C;>:A 6H>QI>8D
DC I6G:6H N D7?:I>KDH 9: I6A :CK:G<69JG6 HE6T6 >C:K>I67A:B:C I: H: 6<DIU 6 HS B>HB6 :C H6C<G: N G>FJ:O6 N HJ ED9:GSD K>CD :C 9:8A>K: :C JGDE6 9DC9: HJ EGDADC<69D >B $( &
E:G>D ;>C6AB:CI: IJKD FJ: :HI6G 6CI: !G6C8>6 : $C<A6I:GG6 HJH HJ8:HDG:H :C A6 8JB7G: (6H ADH H><ADH 9: HJ 9DB>C>D >BE:G>6A A: 8G:6GDC JC 8DC ?JCID 9: :C:B><DH FJ: B:O8A6C9D I:BDG :CK>9>6H N ADH D9>DH >CI:CHDH 9: 8DC;A>8IDH G:A><>DHDH =>8>:GDC FJ: HE6T6 N HJH =>?DH ;J:G6C ADH EG>B: GDH :C HJ;G>G :A >BE68ID 9: A6 >BEG:CI6 8DBD 6GB6 9: EGDE6<6C96 FJ: AA: <6GDC 6 8DC;JC9>GA6 8DC A6H K:G96 9:H 9: A6 =>HIDG>6
A G:A6ID 9: A6 ':N:C96 ):<G6 8DC HJ 9:;DGB696 K>H>UC 9: JC6 H E6T6 H>C<JA6GB:CI: 9:EG6K696 =6 9: D;G:8:G :HE:8>6A >CI:GRH 6 ADH 8>J 9696CDH 9: 6FJ:AA6 DIG6 EDI:C8>6 ADH HI69DH 0C>9DH 9: BRG>86 6=DG6 :C A6 8JB7G: 9: HJ ED9:GSD FJ: 68 IJ6AB:CI: 9:GG6B6 H6C<G: N G>FJ:
+7, &?7,.
O6 :C A6 9D7A: I6G:6 9: 9:;:C9:G 6A *88>9:CI: N 6JM>A>6G 6 A6H C68>DC:H HJ79:H6GGDAA696H :C I6CID FJ: HJ ;G: ADH <DAE:H 9: JC6 EGDE6<6C96 6 C>K:A <AD76A 86A8JA696 E6G6 9:HIGJ>G A6 H>B>HBD E6G6 :A :CI:C9>B>:CID 9:A K6HIDH BJC9D =>HEQC>8D I6C K> I6A N IG6H8:C9:CI: :C A6 HJE:GK>K:C 8>6 9: A6 8>K>A>O68>UC D88>9:CI6A :H :H:C8>6A JC 8DCD8>B>:CID 9: DG><:C :KDAJ8>UC N E:G:CC:H ;GJIDH 9: 6FJ:A :MI:CHD N ;:8JC9D QG7DA 9: D9>D
16A: A6 E:C6G A::G :HI: ;DGB>96 7A: 9D8JB:CID HD7G: ID9D :C :HI: BJC9D FJ: =DN CDH ID86 K>K>G K>:C9D 8UBD CJ:HIGDH K:8>CDH 9:A CDGI: I6B7>RC B:I:C HJH C6G>8:H :C ID 96H E6GI:H
HI: A>7GD bG7DA 9: D9>D N6 CD H: :C8J:CIG6 :C C>C<JC6 A>7G:GS6 E:GD HS :C A6 :C:;>8:C8>6 HE6TD A6 +G:<VCI:CDH
# !
/D96KS6 K>K>BDH BJ8=DH FJ: 9: C>TDH ]D= IRBEDG6 :C :A G: 8G:D 9: A6 :H8J:A6 86CIQ76BDH :C 8DGGD 6FJ:A GDB6C8:^ \ UC9: K6H A;DCHD 3$$ 9UC9: K6H IG>HI: 9: I>^ .J K>96 ;J: ;>AB696 :C K6 G>6H D86H>DC:H JCD H6AS6 9:A 8>C: N H: >76 9:G:8=D 6A C:JBUAD<D 8G: N:C9D FJ: :HI676 8DCI6<>69D EDG ADH 768>ADH 9: &D8= FJ: 9:HE:9S6 (:G8:9:H 8J6C9D IDHS6
A;DCHD 3$$ 6E:AA>969D :A +68>;>869DG =>?D 9: $H67:A $$ N 9: DC !G6C 8>H8D 9: HSH H: :C6BDGU 8DBD JC IDCID 9: HJ EG>B6 =:GB6C6 6JCFJ: N6 :C 6FJ:AA6 I:BEDG696 9: H: K:S6C B6A :HDH :CA68:H AA6 :G6 =>?6 9: CIDC>D 9: *GA:6CH 9JFJ: 9: (DCIE:CH>:G N 9: A6 >C;6CI6 9: HE6T6 DT6 (6GS6 'J>H6 9: DG7UC .: 86H6GDC :A 9: :C:GD 9: '6 E:C6 ;J: FJ: ID96KS6 CD :M>HIS6 :A ]#*' E:GD A6H 8GUC>86H 9: A6 RED86 9>?:GDC FJ: A6 7D96 H: :;:8IJU 8DC BJ8=D :HEA:C9DG E:GD 7G:K: BJN 7G:K: ;J: HJ K>96 9: 86H696 EDGFJ: =67>RC9DH: 86H696 6 ADH 6TDH 9: K>96 N AA:K6C9D 8>C8D B:H:H 9: ;:A>O B6IG>BDC>D A: 9>?D 69>UH 6A ED7G: A;DCHD 6 HJH E69G:H N 6 HE6T6 N H: A6 AA:K6GDC 6 A H8DG>6A 9DC9: H><J: ID96KS6 H> :H FJ: :A <D7>:GCD 9: 56E6I:GD CD A6 H68U 9: 6AAS
A ;>C6A 9:A 86GC6K6A H: 8:GG6 76H 8DC :A :CI>:GGD 9: A6 H6G9>C6
K:8:H 9>8: ":DG<: ( !DHI:G :C HJ A>7GD JAIJG6 N DCFJ>HI6 H: H:EJAI676 G:6AB:CI: A6 E: FJ:T6 G:EG:H:CI68>UC 9: JC E:O
+:GD CD H>:BEG: H: :CI:GG676 C>C <VC E:H869D C (69G>9 =68>6 :A H><AD 31$$$ :HI6 8:G:BDC>6 BDGIJDG>6 9: A6 H6G9>C6 :G6 JC6 ;>:HI6 BJN >BEDGI6CI: '6 <:CI: :C <GJEDH CJB:GDHDH 86B>C676 =6HI6 A6H DG>AA6H 9:A (6CO6C6G:H E6G6 E6H6G JC 9S6 9: 86BED 8DC JC H>C;SC 9: 9>K:GH>DC:H /6B7>RC
H: 9>8: FJ: A6 H6G9>C6 ;J: DG><> C6AB:CI: JC EJ:G8D K:HI>9D ]=DN AD K:HI>GS6C 9: "J6G9>6 >K>A E:GD :C A6 B>I69 9: 6FJ:A H><AD H: A6 G:EG:H:CI676 B:9>6CI: JC6 ;><J G6 G:AA:C6 D BQH 8DBVCB:CI: EDG JC D9G: :CB6H86G69D 'DH 7JAA> 8>DHDH :CI:GG69DG:H H: :CB6H 86G676C K:HIS6C 8DC GDE6?:H 9: ;G6>A: N 9:H;>A676C EDG ID9D :A 86B ED 86CI6C9D AV<J7G:B:CI: N I>GQC 9DA:H 6<J6 6 ADH :HE:8I69DG:H 8DC ?:G>C<6H D :H8D76H BD?696H
!>C6AB:CI: 86K676C JC EDOD :C A6 I>:GG6 N H: :CI:GG676 JC6 K:G969:
/$(*'*"7 (5. *(:) ' + ' - -) 1 ' . ' ' -*( ) - ) 1 ' ' --* ) 1 ' * --0. ) 1'$. '*. )/$"0*. "-$ "*. ( $6) ./5 ' /6-($)* -) ./*' ) . ,0 .$")$!$ ./ ) $9) ' -) 0- )/ ' 0 - .( - '*. / ' ) . . -) ./*'/ . * -) ./*'/$. ) '$ $ . ' $)/-*$ * ' ' /7) $)/-*$/0. )/- * )/- ) * ) ' . )/$ * ' 8* )0 1* * +-$( 1 - 3 ,0 ' )0 1* 8* *( )4 )/$ "0 ( )/ ) ' +-$( 1 - # !
(6GS6 9: A6H (:G8:9:H
G6 H6G9>C6 CD A6 ;><JG6 :C I6CID FJ: ADH >CI:<G6CI:H 9:A 9:H;>A: 8DBS6C N 7:7S6C 9:A D9G: FJ: =67S6 G:EG:H:C I69D :A :HESG>IJ 9:A 86GC6K6A
A :CI>:GGD 9: A6 H6G9>C6 CD E6G:8: :M>HI>G :C C>C<JCD 9: ADH E6SH:H 6B:G>86CDH E:GD HS H: :C 8J:CIG6 :C :H86A6 A>B>I696 :C 8DC8:EID 9:A :HESG>IJ 9:A 86GC6K6A
C (RG>96 4J8 H: :CI>:GG6 6 %J6C 6GC6K6A ;><JG6 H>B7UA>86 FJ: =6 <D7:GC69D 9JG6CI: 8J6IGD 9S6H H: A: EDC: :C JC6 86?6 N H: A: :CI>:GG6 :A (>RG8DA:H 9: :C> O6 9:HEJRH 9: FJ: JC CDI6G>D =6 A:S9D HJ I:HI6B:CID :C :A FJ: 9:?6 HJH E:GI:C:C8>6H 6 A6 9DA>:CI: K>J 96 N 6 DIGDH E6G>:CI:H C "J696A6?6G6 %6A N (6O6IAQC H: :C I>:GG6 6A (6A #JBDG G:EG:H:CI69D EDG JC6 ;><JG6 FJ: H: AA:K6 :C JC 6I6V9 '6 /DDG B:C8>DC6 I6B7>RC 7G:K:B:CI: JC6 8:G:BDC>6 FJ: H: :;:8IV6 :C :A +:TUC :C ADH 6AG:9: 9DG:H 9: A6 >J969 9: (RM>8D :C A6 FJ: 6A IRGB>CD 9: JC6 G:EG:H:C I68>UC 9: 86GC6K6A H: :CI>:GG6 6 A6 /G>HI:O6 N 6A B6A #JBDG
$( &
4 8A6GD N6 :C :HI6 8>J969 E6H: BDH 6 ADH $CKQA>9DH I6A K:O :A AJ<6G BQH K>H>I69D EDG ADH IJG>HI6H HI: 8DBEA:?D 6GFJ>I:8IUC>8D _6HS A: 9>8:C ADH FJ: H67:C`;J: A:K6CI69D :C :A H><AD 31$$ 8DC :A B>HBD ;>C FJ: ADH GDB6CDH FJ: JC6 K:O I:GB>C696 HJ <J:GG6 8DCIG6 ADH 6HIJG:H N ADH 8QCI67GDH :C AJ<6G 9: :CK>6G 6 HJH HDA969DH E6G6 -DB6 8DCHIGJNU JC6 8>J969 :C 696?DO HE6T6 E6G6 FJ: 6AAS K>K>:G6C :A G:HID 9: HJH 9S6H N A6 AA6BU BRG>I6 9: 9DC9: K>:C: A6 E6A67G6 :BRG>ID =DN A6 GDB6C6 (RG>96 :MIG:B:T6 'DH ;G6C8:H:H FJ: :G6C =:G>9DH :C ADH ;G:CI:H 9: <J:GG6 E6H676C 6 K>K>G :C 'DH $C KQA>9DH JCDH EDG G:6AB:CI: >CKQA> 9DH N DIGDH EDG HJH BJ8=DH 6TDH 6A H:GK>8>D 9: !G6C8>6 !>C6AB:CI: H: 8DCK>GI>U :C A6 IJB76 9: )6EDA:UC
+J:H 7>:C AD >CI:G:H6CI: 9: :HI: :HE:8I68JA6G ;RG:IGD FJ: <J6G96 ADH
G:HIDH 9:A FJ: IJKD 6 JGDE6 :C JC EJTD I>:C: :C HJ >CI:G>DG DIGDH H:>H 6I6V9:H BQH :A EG>B:GD :H 9: AQB> C6 9: 68:GD G:8J7>:GID 9: :HI6TD :A
H:<JC9D :H 9: 86D76 :A I:G8:GD N :A 8J6GID 9: EADBD :A FJ>CID 9: B6 9:G6 9: R76CD N :A VAI>BD 9: GD7A:
] A6GD >BEDH>7A: H6A>G 9: 6AAS
# ' .S HR FJ: 6 B>H 6TDH N6 :H >BEDH>7A: K>K>G 9:A 8J:CID CJC86 AD EG:I:C9S 69:BQH HR BJN 7>:C FJ: B> 8J:CID :HIQ N6 :C A6H EQ<>C6H ;>C6A:H .>C :B76G <D =: A:S9D JC 8J:CID FJ: ID96KS6 CD :HIQ EJ7A>869D
H 8DGI>ID H: A:: 9: JC6 H:CI696 :C :A 86;R D IG6C FJ>A6B:CI: :C :A 76TD .J 6JIDG JC ?DK:C '>8 %DG<: !>9:A !:GCQC9:O 16A>T6H FJ>:C B:I: :C HJ 8J:CID >C;>C>969 9: E:GHDC6?:H I6CIDH 8DBD E6H>DC:H :BD 8>DC:H H:CI>B>:CIDH E:CH6B>:CIDH 9J96H :I8 6C> 96C :C CJ:HIGD H:G /D9DH 8DC JC CDB7G: FJ: CD :HIQ :C C>C<VC H6CIDG6A G:A><>DHD C> EDASI>8D 8696 E:G HDC6?: E>:CH6 N 9>8: :M68I6B:CI: AD FJ: HJ CDB7G: >C9>86 N 6HS I:C:BDH 6 A6 $<CDG6C8>6 A6 :H>9>6 A6 +D:HS6 A6H GI:H A6 +>CIJG6 A6 -6OUC A6 %JHI>8>6 :A :7:G ^'6 9>H8JH>UC :CIG: ID9DH :HIQ 8>B:CI696 N K6ADG696 EDG HJH 68I>IJ9:H HJH ;>C:H :C ADH FJ: I6B7>RC K>K:C 9: 6A<JC6 B6C:G6 8DBD A6 CK>9>6 :A ;G686HD A6 $CIG6CH><:C8>6 N I6B 7>RC :A E:869D BQH <G6K: FJ: :HIQ H>:BEG: :C CJ:H IG6 B:CI: H>C 69K:GI>GA6 A6 'D8JG6 9: FJ:G:G H:G BQH FJ: ADH 9:BQH N 6A :CIG:A6O6GH: 8DC ADH 9:BQH E:G HDC6?:H I>:C: BQH ;J:GO6 FJ: A6 !J:GO6 B>HB6
H 8>:GID CD H: EJ7A>86 ID96KS6 E:GD ND B: 69:A6CIR 6 8DCI6GAD EDGFJ: CD HR FJR B: K6 6 E6H6G B6T6C6
$( &
K 0 ;?F 89= ;?05,79= ,;?G =4 08 >9/,= :,<>0= =0 .?0.08 3,-,=
# !
A 9: ?JA>D 9: H: 8:A:7GU A6 H6B7A:6 <:C:G6A EG:H>9>96 EDG :A (6GFJRH 9: :GC6 (>C>HIGD 9: H E6T6 :C (RM>8D :C :AA6 H: 9>D 8J:C I6 9: ADH IG:H D;G:8>B>:CIDH =:8=DH 9:HEJRH 9: DSG ADH :AD<>DH FJ: ?JH I6B:CI: IG>7JIU :A (6GFJRH 6 A6 .D 8>:969 N :A +G:H>9:CI: AA6BU A6 6I:C 8>UC =68>6 A6 8DCK:C>:C8>6 9: :HI6 CJ:K6 69FJ>H>8>UC 6 E:H6G 9: I:C:G N6 ADH 9: A6 DC9:H6 JC6 K:O FJ: 6=DG6 K6AS6C BQH 9:A 9D7A: 9: AD FJ: 8DCHIU H>:C9D EDG :HID JC6 ED9:GD H6 6NJ96 E6G6 A:K6CI6G CJ:HIGD H6 C6IDG>D BD9:AD
.: 9>H8JI>U 6BEA>6B:CI: :A EJC ID N :CIDC8:H .:8JC9>CD .DA6
C6 N 1>AA6H6CI: ;DGBJAU EDG :H8G>ID H:>H EGDEDH>8>DC:H FJ: 676G8676C :A D7?:ID 9: A6 H6B7A:6 4 A6 9>H8J H>UC =67>96 A6H IG:H EG>B:G6H 9:HI> C696H 6 69FJ>G>G :A CJ:KD I:GG:CD :C A6 DADC>6 9:A DHFJ: 6JIDG>O6C9D 6 A6 %JCI6 >G:8I>K6 E6G6 FJ: :A I: GG:CD 9: A6 DC9:H6 H: 9:HI>C: 6A JHD EGDE>D 9: A6 :C:;>8:C8>6 B>:C IG6H AA:<6 A6 DEDGIJC>969 9: K:C9:G H: A6H DIG6H IG:H EGDEDH>8>DC:H H: G:;:GS6C 6 96G A6H <G68>6H 6 ADH H: TDG:H (6CJ:A GG:<J> N 8DCHDG 8>DH N 6 9:8A6G6G FJ: ADH DIGDH I: GG:CDH CD :G6C 6EGDE>69DH
'D >C:HE:G69D =67S6 D8JGG>9D =67S6 D8JGG>9D :C I>:BED BJN 7G:
% "
% $ A +G:H>9:CI: 6EDN6 6 A6 DB>H>UC 9>8>:C9D FJ: RHI6 EJ:9: DG9: C6G 8J6CID :HI>B: C:8:H6G>D N :A 9B>C>HIG69DG :HIQ :C A6 D7A><68>UC 9: D7:9:8:GA6 N 9: CD =68:GAD 6HS AA:<6G =6HI6 A6 9:HI>IJ8>UC N 8G:D FJ: 9:7: E6HQGH:A: JC6 8DBJC>868>UC 6BDC:HIQC9DA: EDG EG>B:G6 K:O
+:GD CD CDH 9>8:C H> :C A6 H:<JC96 K6 :A 9:HE>9D FJ: :H AD BQH EGD767A: 6JC FJ:^ -:C68: :A EGD7A:B6 9:A 688>9:CI: HJ;G>9D EDG JC6 86GGDO6 9: ADH /G6CKS6H 6HJCID FJ: K>BDH :C 68I6H E6H696H
'6 DB>H>UC ;DGB696 E6G6 :HIJ9>6G 9> 8=D >C8>9:CI: AA:<U 6 A6 8DC8AJH>UC 9: FJ: :A 8JAE67A: ;J: :C B>HBD BDIDG>H I6 9:A IG6CKS6 EJ:H :C86G<U 6A <6GGDI: GD FJ: :?:8JI6G6 HJH ;JC8>DC:H N C> H> FJ>:G6 H: :C8DCIG676 :C A6 86GGDO6 8DH6 FJ: H: EJ:9: EGD76G ^ H JC6 9: A6H I6CI6H ;6AA6H =JB6C6H FJ: EGD 9J8: A6 >C9DA:C8>6 A6 67JA>6 A6 C:<A><:C 8>6 :C JC6 E6A67G6 :A 6=S H: K6 ^ :A CD E6H6 C696 ^ ]H> HS 8DC IG:H GJ:96H AA:<6BDH^ A +G:H>9:CI: E>9: FJ: :A 6HJCID H: A: E6H: 6A 67D<69D N FJ: RHI: A: 8DCI:HI: 6A 9: ADH /G6CKS6H EJ:H H:<VC :A EG>B:GD :A 6HJCID :H I6C 8A6GD FJ: :H :A +6CI:UC :A FJ: EJ:9: =68:G G:8A6B68>DC:H 6 ADH /G6C KS6H B:9>6CI: :A CDB7G6B>:CID 9: E:G>IDH N H> CD 68:EI6C FJ: H: AA:K: :A 6HJCID 6 I:GG:CD ?J9>8>6A 1:G:BDH 8UBD I:GB>C6 :HI: 6HJCID H> :H FJ: :A .:8G:I6G>D 9: 68I6H CD H: DAK>9U 9: 6H:CI6GAD
DCI>CJ6GQ # !
K: N EDG ;DGIJC6 :A 6GFJ>I:8ID -:>M6 8DCHJAIDG 9:A 6CI:EGDN:8ID EG:B>6 9D =67S6 :HIJ9>69D :A CJ:KD I:GG:CD N AD =67S6 :C8DCIG69D EDG 8DBEA:ID 69:8J69D 6A 9:H6GGDAAD 9:A .6C6ID G>D :C EGDN:8ID C A6 H:H>UC EJ:H 9:A 9: H:EI>:B7G: 9: A6 %JCI6 >G:8I>K6 68DG9U 6JIDG>O6G 6A .G +G:H>9:CI: A;G:9D 9: )DG>:<6 N :C HJ 86HD 6A .G 1>8:EG:H>9:CI: '6JG:6CD (><DN6 E6G6 :A:K6G 6 :H8G>IJG6 EV7A>86 A6 B>CJI6 8:A:7G6 96 8DC A6 =6EJAI:E:8 #:><=IH D . B>CJI6 FJ: ;J: EG:H:CI696 :C A6 B>HB6 H:H>UC :C A6 8J6A H: 6EGD 7U I6B7>RC :A 8DBEGDB>HD 8DCIG6S 9D 8DC :A 8>I69D GFJ>I:8ID -:>M6 E6G6 A6 8DCHIGJ88>UC 9:A CJ:KD .6 C6IDG>D
\,JR =67S6 HJ8:9>9D 8DC :A 9: H6HIG: D86H>DC69D EDG A6 69B>C>HIG6 8>UC :HEVG:6 KD867AD 9:A FJ: N6 =:BDH =67A69D :C DIGD CVB:GD 6C I:G>DG 9: A6 .D8>:969 A GD7D EDG :A :M I:HDG:GD ;J: 9:;>C>I>K6B:CI: H6A 969D EDG A6 %JCI6 >G:8I>K6 :A 6TD 9: 8DC JC6 ERG9>96 ;>C6A 9:
9:HEJRH 9: 67DC6GA:
EDG K6ADG 9: ADH BJ:7A:H FJ: H: :C8DCIG676 9:EDH>I69DH ?J 9>8>6AB:CI:
*)/$)0 -b $( &
( (
(DCIU .6C8=D HD7G: BS N EDG ;>C H6A>BDH 9: 6AAS 9: 8DCD8S6 EDG HJ 8J:CI6 B: AA:KU 8:7696 :A EG>B:G 6A> ?6C9D 6 DC ,J>?DI: =68>:C9D AD B:?DG FJ: H67S6 =68:G B:CID FJ: B> :HIUB6<D G:8>7S6 :C BJ8=6H =DG6H
AD8JG6H EJ:H H: 9:HCJ9U N 8DB:COU 6 96G O6E6I:I6H +:GD A6H 8DH6H H: H67:C EDG BJN D8JAI6H FJ: H: :C :A 6>G: N 6 EDC:GH: 9: 867:O6 8DC A6H E>:GC6H E6G6 FJ>:G6C I:C:G :A JG6 =67S6 I:C>9D JC6 >9:6 FJ: B: 6GG>76 #6HI6 :CIDC8:H H:CIS K:G969:G6 E:C6 EDG A6H AD E6G:8>U BJN 7J:C6 K:HI>GH: 9: 96B6 >G 6 9DC9: :HI6 8JG6H 9: B> 6BD N .6C8=D 8DC :A B>HBD H:CI>B>:CID 76 DC ,J>?DI: N E:9>GA: HD8DGGD H:<JGD 9: FJ: CD E:G B: :C86B>CU EDG 6FJ:AADH K:G>8J:IDH FJ: 9: 6A<JC6 9:GS6 A6 D86H>UC 9: 9:H;68:G JC :CIJ:GID E6GI>8JA6G B6C:G6 CDH AA:K6GS6 =6HI6 :A EJ:7AD 9: A6 H>C E6G JA8>C:6 B:CI: H> H: IG6I676 9: JC6 96B6 N 6HS 6T69>G JC6 =6 9:A /D7DHD (> CJ:KD 8676AA:GD 8DBD :A A:<SI>BD I6B O6T6 BQH 6 A6 A6G<6 A>HI6 9: :AA6H ': E>9>U 6 A6 K:CI:G6 7>RC =67A676 HDAD #68S6 8J:CI6H :C :A 6>G: 9: AD FJ: 6A<JC6 GDE6 9: BJ?:G E:GD :AA6 FJ>HD H67:G E6G6 FJR A6 =6GS6 8J6C9D ;J:H: <D7:GC69DG EGDN:8I676 :CA>HI676 FJ:GS6 N 6A H67:GAD 86NU :C A6 8J:CI6H 9: FJ>RC H: IG6 B:CI6AB:CI: A6H 8DH6H FJ: 69FJ>G>GS6 E:GD C>C<JC6 9: I676 9: 6FJ:A AD8D 9:A 7QAH6BD N A6 869:C6 9: G:8J:G :AA6H :G6 E6G6 68G:8:CI6G HJ EGDE>6 =68>:C96 H>CD E6G6 9DH H><J>U 96C9D KJ:AI6H :C A6 867:O6 9: 6FJ:AA6 BJ?:G N K>CD 6 96G 8DC A6 ;6BDH6 N 9> HS B>HBD K:HI>GS6 B:?DG 8DB: K:GI>96 B6CI:696 FJ: A: =67S6C GS6 7>:C N 67JC96CI: 7:7:GS6 969D 6A :H8J9:GD 9:A K>:?D AD8D 7J:CDH 86A9DH^ 6HS FJ: :A K:CI:GD N A6 K:CI:G6 8DCI6GDC 6A JGG6 N 6A 6G7:GD +DG ;>C 9:HEJRH 9: BJ8=D 6FJ:A A6C8: :C FJ: H: K>:GDC :A 86B>C6G AA:<6BDH 6 A6 K:CI: K>:?D N HJ :H8J9:GD
9DC9: 6FJ:AA6 K:O B6CI:6GDC 6 +:GD :A JG6 E:CHU FJ: HJ .6C8=D E:GD 9J9U H> :CIG6G D 9><C>969 H68:G9DI6A A: >BE:9S6 H:<J>G 9: A6G<D EJ:H <J6G9676 K:HI>GH: 9: BJ?:G N A: E>9>U 6A ID96KS6 :A B6A G:8J:G9D 9: HJ 6G7:GD FJ: H: EJH>:G6 6FJ:A GD EG>B:G6 K>H>I6 C :HD :HIQ76 E6?: N 6HS AD =>8>:GDC J6C9D BDH 8J6C9D K>BDH H6A>G 9DH .6C8=D K>D 6A 6G7:GD :C 6FJ: =DB7G:H 9: 6FJ:A AJ<6G 6 ADH AA6H ;68=6H CD EJ9D 8DCI:C:G A6 FJ: ND G:8DCD8S :CH:<J>96 G>H6 N 6 BS EDG AD B>HBD B: EJ:H :G6C 6B><DH 9: DC ,J> K>C>:GDC <6C6H 9: :B>I>G JC HD ?DI: N AD K>H>I676C 8DC BJ8=6 ;G: CDGD G:A>C8=>9D B6C>;:HI6C9D B> 8J:C8>6 :G6C :A JG6 N :A 6G G:<D8>?D 6A FJ: ID9DH JC>:GDC 7:GD FJ: C6IJG6AB:CI: B: G: HJH 86G86?696H 9>8>:C9D FJ: 8DCD8>:GDC 6A EJCID N C696 BQH =6HI6 ND B: G:S6 8DB:CI6C9D K:GCDH A: EG:<JCI6GDC 6 .6C8=D :A JG6 FJ: CD :G6 E6G6 B:CDH EDG DC ,J>?DI: E:GD RA BJN B> G:A>C8=>9D
A:6A N BQH A69>CD CD FJ>HD 9: .6A>BDH ID9DH :C EGD8:H>UC 8>GA:H 9DC9: ED9GS6C :C8DCIG6G N 6A DIGD 9S6 AA:<6BDH 6A AJ<6G AD E:GD :AADH BQH A>HIDH FJ: :A 9DC9: .6C8=D =67S6 EJ:HID :H8J9:GD A: 9>8:C FJ: H> >76 JC6H H:T6A:H E6G6 96G 8DC :A H> 8DCB><D :G6 EDGFJ: RA =67S6 I>D :C :A FJ: =67S6 FJ:969D :A 969D BJ:GI: 6A 6BD 9:A 8676 $?459>0 @,;?0<9 676AA:GD 9: A6 /G>HI: !><JG6 AAD !J: HJ;>8>:CI: E6G6 FJ: .6C 867:O6 676?D N E>:GC6H 6GG>76
8=D HDAI6G6 A6 A:C<J6 N 8DCI6H: AD FJ: A: 8DCK:CS6 EDGFJ: 9: A6 B6CI:696 FJ: A: EGDE> /D9DH =67S6C 8DCK:C>9DH :C AD FJ: .6C8=D A: 9>GS6 6A C6GDC :C 6FJ:AA6 K:CI6 CD 9>?D C> E6A67G6 6JCFJ: 6FJ: K>:?D A JG6 N :A 6G7:GD H: FJ:96GDC :H8DC9>9DH N AADH H:TDG:H A: >CK>I676C 6 8DB:G H: C:<U 6 :AAD E:GD .6C8=D B: <J>U =68>6 :A AJ<6G 9: A6 E:C>I:C8>6 CIG6 E>9>RC9DA:H FJ: A: H686G6C 6A<D 9: AD FJ: :AADH 8DB>: BDH EDG 6FJ:AADH E6G6?:H FJ: I6CID B: <JHI676C E:GD G6C +:GD 9: BS CD H: 68DG9U EJ:H CD A:H 9>?D FJ: E> >76 8DC I:BDG EDG AD FJ: EJ9>:G6 HJ8:9:G :C :A :C8J:C 9>:G6C 6A K:CI:GD JC ED8D 9: 8:7696 E6G6 BS .6A>U 9: IGD 9: DC ,J>?DI: 8DC HJH K>:?DH 6B><DH 6JCFJ: JCD :AADH EDGFJ: 6A ED8D I>:BED 6E6G:8>U :A 6G7:GD 8DC 9: :AADH :HIJK>:G6 K:HI>9D 9: BJ?:G N CD AD G:8DCD8>:G6
DCI>CJ6GQ 8DB>96 E6G6 .6C8=D N 8DBD :A 6B><D 9: B> 6BD B: $( &
# !
C A6 8DADC>6 9: ADH <6IDH 9:A #DHE>I6A HE6TDA :A VC>8D :C (RM> 8D :C :A FJ: K>K:C :C 8DC9>8>DC:H :CK>9>67A:H EJ:H H: A:H 96 8DB>96 N H:GK>8>D H6C>I6G>D N =6HI6 ;6GB6 8>6 N E:9>6IG6H 6JCFJ: JHI:9 CD AD 8G:6 EJ:H A6 .D8>:969 +GDI:8 IDG6 9: ID9DH ADH FJ: CD HDC 8DBD CDHDIGDH :HIQC BJN E:C9>:CI: 9: :HI: I>ED 9: ;:A>CDH 9DBRHI>8DH H IQC E:G;:8I6B:CI: =67>IJ69DH 6 HJH G>C8DC:H N AJ<6G:H JCDH K>K:C 6A EDC>:CI: DIGDH 6A DG>:CI: 6A<JCDH 6C96C EDG :A CDGI: N H>C :B76G<D :H BJN 9>;S8>A :C8DCIG6GADH EDG :A HJG
C JCD 9: :HIDH AJ<6G:H =6N JC6 <6I>I6 7A6C86 :HD 8G:D FJ: ND FJ: :H <6I6 N :H JC6 K:G969:G6 BDC6 96 '6 K:D ID96H A6H B6T6C6H 6A AA: <6G 6 B> IG676?D :C :A #DHE>I6A N :HIQ IDB6C9D :A HDA 6JCFJ: RHI: CD 6E6 G:O86 ID96KS6 IJB7696 ?JCID 8DC DIGDH <6IDH HD7G: A6H AQB>C6H FJ: I6E6C ADH 9G:C6?:H EJ:H A6 76HJG6 FJ: K6 EDG A6H 6A86CI6G>AA6H EGD9J8:C 86ADG CD HUAD E6G6 ADH 6C>B6A:H EJ:H =: K>HID EDG :A :CIGD 9: A6 >J969 BJ8=DH C>TDH 69JAIDH N K>:?DH 9JG B>:C9D HD7G: A6H I6E69:G6H 9:A 9G: C6?: EDG 8DA8=UC :A 8>:AD EDG I:8=D N :AADH 8J7>:GIDH 8DC E:G>U9>8DH D H:6 FJ: H: 8J7G:C 8DC A6H CDI>8>6H 9:A 9S6 A6H 7J:C6H N A6H B6A6H
+J:H 7>:C :C JC6 9: :HDH :M IG6TDH 86A:CI69DG:H K> JC6 <6I>I6 FJ: B: AA6BU A6 6I:C8>UC EDG A6 7A6C 8JG6 9: HJ E:AD N 8J6C9D 67G>U ADH D?DH K> FJ: :G6C 8DBD ADH 9: A6 /6NADG /D96 :AA6 B: >BEG:H>DCU E:GD A6 7A6C8JG6 9: HJ E:AD CD AD ED9GR DAK>96G H 8DBD :A 9: A6 C>: K: 6CI:H 9: 86:G 6 I>:GG6 EDGFJ: :H 8J6C9D HJ 6BED CD :HIQ 8DCI6B> C69D 8DC A6 HJ8>:969 FJ: EGD9J8> BDH ADH I:GGS8DA6H
+:GD N6 :H =DG6 9: EDC:G CDB 7G: 6 :HI6 8G>6IJG6 (JH:A>C6 E:GD :AA6 EDG EG:HJB>G 9: >I6A>6C6 9:8S6 FJ: HJ CDB7G: H: :H8G>7S6 8DC 9D 7A: H N 9D7A: A N 6HS ED9GS6 9:8>G FJ: =67S6 C68>9D :C !ADG:C8>6 D :C )QEDA:H N :CIDC8:H H: K:GS6 6HS (JHH:AA>C6 A6GD :AA6 CD H67S6 FJ: :C $I6A>6 =J7D JC 9>8I69DG AA6B69D (JHHDA>C> E:GD N6 H: H67: FJ: 6=DG6 6 ID96H A6H ;RB>C6H 9:A BJC 9D A:H 96 EDG EDC:GH: CDB7G:H FJ: AJO86C 8DBD :MIG6C?:GD '6 =>?6 9: JC 76C9>9D B>8=D686CD H: AA6B6 .6NDC6G6 ]4 AD CDI67A: :H FJ: K>K: ID96KS6 (> <6I>I6 I:CS6 JC6 B:BDG>6 H:CH68>DC6A EJ:H A:H 8DCI676 6 HJH 6B><DH A6H 8DH6H FJ: HJ 67J:A>I6 A: C6GG676 9: (6GS6 DC:H6 N EDG FJR A6 AA6B676C A6 "6I>I6 A6C86 N A:H B6JAA676 ADH 9>K:GI>9DH 8JEARH 9: 6FJ:AA6 O6GOJ:A6
9 3=75?/:/ 3@ B;/ 1<:=<@717L; >B3 3E=?3@/ 1<; 7;53;7< B; =3; @/:73;A< @/AJ?71< 31J/ /?AG3;0B16 (7 /9 =?L87:< 6/ 23 <43;23?
A7923 =<;73;2< 3; @B 4/:/ @L9< 3@ 0B3;< 39 3=75?/:/ >B3 @3 >B32/ =<? 6/13? B0< F 6/F 3; ;B3@A?< :B;2< 67@=H;71< :BF 0B3;<@ 3=75?/:7@A/@ 1BF<@ ;<:0?3@ 75;<?/:<@ =3?< >B32/ @B <0?/ F />BJ C/?7<@ 383:=9<@ ; A73:=<@ 23 9/@ 0H?0/?/@ ;/17<;3@ 1<95/0/; 23 9/@ 1?B13@ 9<@ 9/2?<;3@ #/@ /6<?/ 3; 39 @759< 23 9/@ 9B13@ 239 =316< 239 9/2?L; 1B395/; 9/@ 1?B13@ %A?< :H@ (7 3@ < ;< 7;C3;17L; :<23? ;/ QC7C3 7<@ >B3 ;< 9< @I =3?< 23971/2/ 4B3 9/ 7;C3;17L; 23 9/ A/03?;/ - =<? M9A7:< (7; 3@AB27/? :32717;/ @3 @/03 1<; 3C723;17/
>B3 9/ ?3A3;17L; 23 <?7;/ 3@ B;/ 5?/C3 2<93;17/ ?/ B;< >B3 @3 >B38/0/ 23 3@A/ 5?/C3 3;43?:32/2 F @B :B83? 93 3E6<?A/0/ / A3;3? 1<;4<?:72/2 1BI?2/A3 93 231J/ 9< >B3 /9 @/;A< !<0 =/@/0/ F 1BH;A< 39 =<0?3 @B4?J/ - 39 :/?72< ?3@=<;2J/ (J 23 /1B3?2< Q&3?< :3/0/ # !
+J:H 7>:C (JH:A>C6 :G6 JC6 7:AA:O6 :C HJ :HE:8>: N 69:BQH JC6 <G6C 8DCK:GH69DG6 N A:H EA6I>8676 6 ADH 9:BQH <6IDH 9: HJH 6K:CIJG6H N 9: HJH 6TDH 9: 868=D GG6 +:GD D9>676 EGD;JC96B:CI: 6 ADH <6IDH C:<GDH G6 6A<D FJ: CD HDEDGI676 ':H 8DCI676 6 HJH 6B> <DH FJ: 8J6C9D :AA6 K>KS6 :C JC6 86H6 9: +DA6C8D =67S6 :C :A 76GG>D JC <6ID C:<GD FJ: A6 H:<JS6 N E:GH: <JS6 EDG ID96H A6H 6ODI:6H 9: A6 B6CO6C6 .UAD 9: E:CH6G FJ: :AA6 IJK>:G6 <6IDH C:<GDH D <G>H:H H: A: :G>O676 =6HI6 :A E:AD 9: A6 8DA6 4 JC 9S6 6FJ:A 9:H9>8=69D :C6BDG69D C:<GD A6 H><J>U EDG ID96H A6H 6ODI:6H A6 8DGG:I:U =6HI6 :A 86CH6C8>D N :C JC6 9: A6H 6ODI:6H :A 9:H<G68>69D C:<GD CD B>9>U 7>:C A6 9>HI6C8>6 N H: ;J: 6A K68>U 9:H9: 9DH E>HDH 86N:C 9D 9:HE6I6GG69D HD7G: JC 8D8=: FJ: :HIQ 9:I:C>9D :C JC 6AID .: ?JCIU A6 <:CI: H6A>U :A 9J:TD 9: 8D8=: <G> I6C9D <GDH:GS6 N B:9>6 :C I6CID A6 <:CI: G:S6 9: K:G969 N :A 8=D;:G ID B6C9D 6A <6ID C:<GD 9:A IDA9D 9: HJ 8D8=: AD I>GD :C :A 7DI: 9: A6 76HJ G6 4 8DCI676 :AA6 4D B: 6HDBR 9:H9: A6 6ODI:6 N K> ID96 6FJ:AA6 :H8:C6 FJ: G:6AB:CI: B: 8DCBD K>U EDGFJ: 6JCFJ: :G6 JC <6ID C: <GD N ND AD 67DGG:8S6 EDG H:G 8DBD :A 86G7UC H:CIS 9DADG EDG HJ BJ:GI: N B>H D?DH H: AA:C6GDC 9: AQ<G>B6H EDGFJ: 9:HEJRH 9: ID9D :G6 9: B> :HE:8>:
'6 BDG6A:?6 9:A 8J:CID H: A6 9:?D 6 JHI:9 FJ:G>9D A:8IDG
$( &
' )D HUAD :HI: EGD9J8ID 9:A FJ: HE6T6 H: :CDG<JAA:8: A: K6 7>:C 6 A6H :CH6A696H 6A <6OE68=D N 6 DIG6H :MFJ>H>I:8:H 8JA>C6G>6H H>CD I6B7>RC E6G6 A6H 6GI:H 9: A6 <J:GG6 FJ: $H67:A N HJ !:GC6C9D I:CS6C :BE:T696 8DC :A BDGD
A EA6C :G6 8:G86G A6 8>J969 9: 6O6 6AAQ EDG C96AJ8S6 9DC9: BQH BDGDH FJ:9676C :C A6 FJ: G:>C676 :A BDG>ID AA6B69D A 56<6A N FJ: HDH I:CS6 JC6 9JG6 G:H>HI:C8>6 6 8J6CID 6I6FJ: =68S6C ADH 8G>HI>6CDH E:GD RH IDH ED8D 6 ED8D H: ;J:GDC 68:G86C9D EDG B6C96ID 9: ADH G:N:H 6 ADH BJGDH 9: A6 8>J969 CIDC8:H :A B6:HIG: 9: .6CI>6<D FJ: AA:K676 :A B6C 9D 9:A :?RG8>ID 8G>HI>6CD N G:6A IJKD A6 DA:DH6 D8JGG:C8>6 9: >CK:CI6G JC6 BQFJ>C6 9: <J:GG6 FJ: 8GR6AD JHI:9 8DCH>HI>U :C JC 869:C6 9: 86A9:G6H AA:C6H 9: 68:>I: =>GK>:C9D FJ: :BEJ?696H 8DC SBE:IJ 9>8: A6 8GUC>86 A6CO676 6 A6G<6 9>HI6C8>6 :A 68:>I: =>GK>:C9D HD7G: ADH H>I>69DH FJ>:C:H FJ:9676C BQH ;G>IDH FJ: ADH 7DFJ:GDC:H B6A6<J:TDH
46 K: JHI:9 8UBD 86B7>6 A6H 8DH6H EDGFJ: =DN 8DC JC6 HDA6 6IUB>86 IDB6BDH JC 8DCI>C:CI: :CI:GD A6GD FJ: 9:HEJRH :A EGD7A:B6 ;J: A>BE>6G :A 8DCI>C:CI: FJ: FJ:9676 8DBD 6=DG6 FJ:96 =>AE6C8>C<D 9:HEJRH 9:A E6HD 9: ADH B6:HIGDH E:GD 8DC :A I>:BED N JC <6C8=>ID^
9 >B3 ;< C<9C3?3:<@ 9< 8B?/ :<@ 93/ 3@A/ ;<A/ ?3@=31A< 239 ?37 ;/2< 23 9<@ /AL971<@ :<;/?1/@ :0<@ ?3F3@ ?317073?<; B;/ C7 @7A/ :BF 7:=<?A/;A3 2<@ 4?/793@ 4?/; 17@1/;<@ >B3 9935/0/; 23 &/93@A7;/ 3;C7/2<@ =<? 39 ?/; )B?1< :<?< =<? @B=B3@A< 1<; 1/?A/@ =/?/ @/ 039 F 3?;/;2< ; 399/ 39 )B?1< @3 >B38/0/ 23 9/ 5B3??/ 1?B39 >B3 6/ 1J/; / 9<@ :<?<@ 3; @=/K/ 3; A/; A< >B3 I9 =?<A35J/ / 9<@ 1?7@A7/;<@ >B3 C7CJ/; 3; 9<@ (/;A<@ 9B5/?3@ % @3/ >B3 3?/ 39 2/;2< F 2/;2< F ?31<:3;2/0/ / ;B3@A?<@ :<;/? 1/@ >B3 @B@=3;273?/; 9/ 1<;>B7@ A/ >B3 3; 3@A3 1/@< F/ 3?/ ?31<; >B7@A/ 1<:3;G/2/ 3; <C/2<;5/ < 23 <A?< :<2< A/:07I; I9 =3?@3 5B7?J/ / 9<@ 1?7@A7/;<@ 3; @B@ 2<:7 ;7<@ F 23@A?B7?J/ 9<@ A3:=9<@ F @3 =B91?<@ 23 9/ )73??/ (/;A/ Q&B3@ @J 3?/ B;/ @3?7/ /:3;/G/ :0<@ :<;/?1/@ ?317073?<; :BF / 073; / 9<@ 3:7@/?7<@ 4?/;17@ 1/;<@ F =<? :327< 23 I@A<@ 93 1<; A3@A/?<; /9 ?/; )B?1< 7;4<?:H; 2<93 3; :BF :3@B?/2<@ AI?:7;<@ Q=<?>B3 / 32B1/2<@ ;< 93@ 5/;/0/ $( &
;/273 23 9/ :/;3?/ 7;8B@A/ 1L:< 9<@ :<?<@ @3 6/0J/; /=<23?/2< 3; <A?< A73:=< 23 @=/K/ 1<;A?/ A<2/ 93F F 23?316< 23 9<@ 7;@B9A<@ F /5?3 @7<;3@ >B3 A<2<@ 9<@ 2J/@ 3@A/0/; ?317073;2< 23 399<@ 9<@ 1?7@A7/;<@ @B@ @M027A<@ ;/AB?/93@ 9<@ 1B/93@ @3 2343;2J/; / @J :7@:<@ F 2343;23? B; A3??7A<?7< 935JA7:/:3;A3 =<@3J2< /;A3@ 23 9/ 7;C/@7L; :B@B9:/;/ >B3 @7 I9 A?/A/0/ 073; / 9<@ 1?7@A7/;<@ 23 9/ &/93@A7;/ A/:07I; 9<@ ?3F3@ 23 @=/K/ 5B/?2/0/; A<2/ 1<;@723?/ 17L; 1<; 9<@ :B@B9:/;3@ @<:3A72<@ / @B 7:=3?7< - 1<; 3@A/ 1<;A3@A/17L; 23@=7 273?<; 03;IC<9/:3;A3 / 9<@ 4?/;17@ 1/;<@ F /=?<C316/;2< 39 C7/83 @/ 039 :BF :<;/ 399/ 93@ 27< B; C39< 0<?2/2< 1<; @B@ =?<=7/@ :/;7A/@ 3;A?3 5B3??/ F 5B3??/ =/?/ >B3 9< =B@73?/; @<0?3 39 (/;A< (3=B91?< 23 !3?B@/9I; F /23:H@ 3; 39 1<9:< 23 9/ =732/2 23 @/039 1<;1327L / 9<@ 1?7@A7/;<@ 23 )73??/ (/;A/ :79 2B1/2<@ /;B/93@ =/?/ @B 1B9A< Q @/039 @/039 ?/ ?/ ?H////R @A< 23@23 9B35< ;< 9< C3?3 :<@ 3; 9/ A393
A I>:BED H: B: K>CD :C8>B6 N FJ: :C A6 K>96 CD =>8: C696 9: EGDK:8=D CIDC8:H :C JC6 CD 8=: 9: >CHDBC>D N E:CH6C9D :C FJ: B> EDGK:C>G N6 :H B6T6C6 B: K>CD 6 A6 867:O6 A6 E:G:<G>C6 >9:6 9: BDCI6G JC C:<D8>D K6N6 JC E:FJ:TD I6AA:G :C :A FJ: EJ 9>:G6 :A67DG6G 6A<D 9: EGDK:8=D E6G6 ADH FJ: K:C<6C 9:IGQH 9: BS N :CIG: :A 76IJGG>AAD 9: >9:6H 9:H I686GDC 6A<JC6 FJ: EDG IDCI6H A6H ;J> 9:H:8=6C9D +:CHR :C ;6 7G>86G G6N6H E6G6 E6CI6ADC:H E:GD K>:C9D 8UBD 6C96 :A BJC 9D H:<JGD FJ: AA:<6GQ :A 9S6 :C FJ: N6 CD H: JH:C 'J:<D =67S6 DIG6 >9:6 A6 9: ;67G>86G 6GGJ<6H E6G6 IG6?:H I6B7>RC I68=696 AD B>HBD FJ: ADH E:>C:H E6G6 86A KDH N AA:<JR 6 A6 8DC8AJH>UC 9: FJ: :HD CD B: EGD9J8>GS6 C> E6G6 8DBEG6GB: JC 86EJ8=>CD :C JC6 9: :H6H BQFJ>C6H FJ: =6N >CHI6 A696H =6HI6 :C ADH 76TDH 9: :A: <6CI: G:HI6JG6CI:H
+:GD JC 9S6 K>:C9D :C A6 I:A: JC6 9: A6H >CCJB:G67A:H B6G8=6H FJ: 6 B6T6C6 I6G9: N CD8=: 6IDH><6C 6 A6 K>:?6 86E>I6A 9: )J:K6 HE6T6 69K:GIS FJ: 6AAS :CIG: ADH <G>IDC:H N :C86EJ 8=69DH :HI676 :A C:<D8>D FJ: B: 8DCK:CS6 ];67G>86G BD8=>A6H 8DC 86E68>969 E6G6 9D8: 7DB76H BDADIDK N DIG6 9D8:C>I6 9: 6:GDHDA:H 9: 8DADG:H EDGFJ: 69K:GIS FJ: A6 >CB:CH6 B6NDGS6 9: ADH E6I>;:HI6CI:H AA:K676C 69:BQH 9: A6 86EJ8=6 86H:G6 FJ: ADH B6G8676 9: 8D76G9:H >76C BD8=>A6 6A =DB7GD N 6:GDHDA :C B6CD E>CI6GG6?:6C9D 8J6CID :HE68>D K:S6C N =6HI6 :C :A E>HD 9: A6H 86AA:H A:H H:GKS6C E6G6 :M EG:H6G HJ ;:A>O 9:H8DCI:CID EJ:H ADH K> 86E68:H 9: :H8G>7>G :C A6H E6G:9:H 86ESIJADH 8DBEA: IDH 9: '6 9>K>C6 DB:9>6 :A ,J>?DI: :C A6H 76G96H EGDI:8ID G6H 9:A DC<G:HD N 9:A .:C69D N =6HI6 A6 K>96 9: 6GADI6 N (6M :C :A BJH:D 9: ADH )>TDH #RGD:H
=S 9:?D A6 >9:6 E6G6 FJ: 6A<J>:C <6C: BJ8=DH B>AADC:H N 9:H76C FJ: 9: JC6 K:O 6A .G .A>B
# !
"VANDALIZANDO"
(8 20<?8/49 ;?0 B, =0 .985?2,-, 08 ?<9:, 08 69= =4269= ) B ) B :<48.4:,6708 >0 08 =:,H, 9= =?0@9= @E8/,69= B ,6,89= 0<,8 >,8 -0=>4,= ;?0 =0 60= /49 06 >0 <<4-60 897-<0 /0 69= E<-, <9= /06 !9<>0 >9/9= 0669= =02?4/9<0= /0 >46, .?B9 ., -,669 >08G, >,8>9= :9/0<0= 08 =?= :,>,= ;?0 =0 /0.G, :9< >9/, ?<9:, ;?0 /98/0 :4=, <,8 89 8,.G, 5,7E= 84 ?8, B0< -, :,<, ?8 .98059 9B :9< 8?0=><9 /0=.,.3,<<,/9 7?8 /9 =0 74<0 :9< /98/0 =0 74<0 :?6?6,8 .408>9= /0 @E8 /,69= ,>46,= 08 :0;?0H9 =48 .,-,669= /0=/0 6?029 :?0= ,39<, >08079= ><,8= :9<>0 B .98 =I69 ,=,6>,< ., 74980= ,?>9= .,74980>,= B .?,8>9 , 79>9< =0 7?0@, 89= 79@079= :9< /98/0 ;?40<, , /410<08.4, 08><0 69= ,>46,= /0 ,B0< B 69= ,>464>,= /0 39B =>E 08 ;?0 69= 809 @E8/,69= 660@,8 6, 50>, >,:,/4>, :9< 0=9 /06 1<G9 B 6, 2<4:0 08 >,8>9 69= /0 ,8>0= :060,-,8 B .970>G,8 =?= 10.39<G,= , .,<, /0=.? -40<>, #0<9 69= @E8/,69= /0 ,B0< 9 =0, 69= /06 =4269 ) =0 08.98><,<98 .98 69= <97, 89= ;?0 7?B <07989= 0669= ,.,-,<98 .98 69= 7,6 /4>9= -,8/960<9= ;?0 @4,5, -,8 /0 :,G= , :,G= 3,=>, /0 5,<69= 7E= @,.G9= ;?0 ?8, :6,C, /0 >9<9= , 6,= ><0= /0 6, 7,H,8, 6,<9 39B 89 @4, 5,8 /0 ?8 :,G= , 9><9 :9<;?0 .98 4< /0 :?0-69 08 :?0-69 /0 =>,/9 08 =>,/9 B, ;?0 /,8 =,>4=10.39= /0 69= /0=,= ><0= .970>4/9= 08 >,8>9 06 :?0-69 -?089 06 ;?0 ><,-, 5, 0=>?/4, @4@0 B /05, @4@4< <0C, :9< ;?0 @082,8 69= <9 7,89= B <97,8,708>0 ,.,-08 .98 06 @,8/,64=79 ., =0<9
# !
] H I6C ED7G: A6 ED7G: FJ: N6 86H> CD :M>HI: C A6H <G6C9:H D E:FJ: T6H B6C>;:HI68>DC:H FJ: EDG :A BJC9D H: DG<6C>O6C H: <G>I6C A6H B>HB6H 8DCH><C6H ],J:G:BDH A>7:GI69 4 AD CDI67A: :H FJ: 6A B>HBD I>:BED H: A6 K6C FJ>I6C9D 6A E:6IUC 6A FJ: K6 :C 8D8=: 6A FJ: K:C9: 6A FJ: 8DBEG6 6A FJ: 9>H;GJI6 9:A HDA 9: A6 8>J969 9:A ?6G9SC 9: A6 IG6CFJ>A>969 N AJ:<D 8J6C9D :A FJ: A6 E>9: 9:HEJRH 9: =67:G GDID ADH 8G>HI6A:H 9: JC 76C8D 9: JC C:<D8>D N E>CI69D E6G:9:H ;68=696H N =6HI6 :A E>HD 9: A6 86AA: H> EDG JC6 8JG>DH6 86HJ6A>969 ADH 9:I>:C:C N6 :HIQC E:G;:8I6B:CI: 69D8IG>C69DH E6G6 9:8>G ND CD ;J> ND CD :HI676 6AAS 6 BS B: 6<6GG6GDC 6 K:>CI: 8J69G6H B: E:<6GDC^ 6JCFJ: :C :A K>9:D H: K: HJ 86G6 N :A BDB:CID :C FJ: :HIQ =68>:C9D JHD 9: HJ A>7:GI69 4 :CIDC8:H K:BDH FJ: :;:8I>K6B:CI: ADH 8G>HI6A:H H: GDBE>:GDC HDADH A6H I>:C96H ;J:GDC H6FJ:696H EDG ADH B>HBDH EGDE>:I6G>DH N HJH IG6>9DG:H :BEA:69DH FJ: A6H I>:C96H 9: 8DCK:C>:C8>6 9:?6C 9: H:G 8DCK:C>:CI:H E6G6 ADH E:A6;JHI6C:H^ ] = E:GD I6B7>RC I>:C:C A6 EG:8>DH6 9>H8JAE6 9>8>:C9D^ .DN :HIJ9>6CI: N :A 8DA:<>6A 6C96 6G6T6C9D ADH 8>C8J:CI6 N =6HI6 C>:IDH I>:C: E:GD H><J: :HIJ9>6C9D N E6G6 8DABD A:N:H
1:6BDH FJR 9>8: :A >88>DC6G>D 6A G:HE:8ID 9: A6 A>7:GI69 '6 A>7:GI69 8DCH>HI: :C ED9:G =68:G ID9D AD FJ: CD 96T: 6 DIGD N RHIDH H>C 96GH: 8J:CI6 H: 6JID 96T6C N :C :A 96TD :CIG6BDH ID9DH HJH ;6B>A>6H >C8AJ> 96H '6 A>7:GI69 :H :A :HI69D 9:A H:G FJ: =6<6 AD FJ: =6<6 H: 9:8>9: 6 =68:GAD 9:HEJRH 9: G:;A:M>DC6G 8DC 8DCD8>B>:CID 9: 86JH6 XHDAD FJ: :C :A 86HD 6 FJ: CDH G:;:G>BDH A6 G:;A:M>UC N :A 8DCD8>B>:CID 9: 86JH6 :H 9: ADH FJ: ADH :CKS6C 6 GDBE:G A6 A>7:GI69 9: ADH 9:BQH C :HI: H:CI>9D G:8>7: :A CDB7G: 9: A>7G: 6A7:9GSD D H:6 :A 9:;>C>I>KD EDGFJ: B: 96 A6 <6C6 N :CIDC8:H :H6 K>96 A>8:C8>DH6 6<G:H>K6 9:HIGJ8I>K6 N 9:HIGJ8IDG6 ADH =68: H:G A>7:GI>CDH D H:6 =>?DH 9:A A>7:GI>C6?: T696 JHI:9 :A E6 G:CI:H8D FJ: BQH A: <JHI:
117L; F 3431A< 23 ?32<;23/? @J 2713 2<K/ 1/23:7/ B3;< ;< 3@AH :/9 =3?< 1B/;2< 39 ?32<;23< 238/ 9/ 5?/:HA71/ F @3 :3A3 / 1< :3?17/;A3 39 /@B;A< 1/:07/ 23 1< 9<? =<?>B3 3@ 39 C3?0< C7@A< 23@23 B;/ 1/8/ 23 1B/9>B73? /BA< @3?C717< 23 1BF<@ ;<:0?3@ ;< >B73?< /1<? 2/?:3 @A/? 3; 9/ 1<9/ 23 9/ 1/8/ 1<9<1/? 9<@ /?AJ1B9<@ 3; 9/ 0/;2/ 1<??327G/ >B3 3@ 9/ >B3 B;< 3: =?3;23?J/ /9 C3? @B07? 3; 9/ =/;A/99/ 39 :<;A< 23 9< 1<:=?/2< 9935/? /9 47; 4?3;A3 /9 1/83?< / F =/5/? 3; 3431 A7C< 9< :/?1/2< 3@ 9< :H@ 23=?7 :3;A3 >B3 ;<@ =B323 =/@/? =<?>B3 3;A<;13@ 3@1B16/:<@ 9/ C<G 23 9/@ 5/;/;17/@ >B3 A3 2713 @7; @7>B73 ?/ /2C3?A7?93 3; 39 53@A< B;/ @<;?7@/ 9753?/ P5B@A/ B@A32 ?32<;23/? 17; 1B3;A/ 13;A/C<@ :H@ < :3;<@
F B;< =?3@B:73;2< 23 27@=3;27<@< /13=A/ 39 ?32<;23< @ 3;A<;13@ >B3 B;< QF ;< 3@ A/;5< =/?/ <?3 8/ F @3 =?35B;A/ 1<; 93A?/ F :M@71/ 23 "/@ 5<9<;2?7;/@ P 2L;23 7?H;R/ =/?/? :7@ 13;A/C<@ $B;1/ 63:<@ C7@A< 3; 9<@ :327<@ B; 0/ 9/;13 23 3@3 ?32<;23< >B3 @7; 2B2/ /95B;/ 6/; 23 @B:/? :B16<@ :793@ < :799<;3@ 23 ?32<;23/2<@ 13;A/C<@ /2>B7?72<@ 5?/17/@ / ;B3@A?< 23@=?3;27:73;A< =<?>B3 @7 3@3 ?32<;23< 9< 316/:<@ / 9/ 6B16/ ;B3@A?/ 31<;<:J/ ;<@ 9< /5?/2313?H @7; ?32<;23<@ /83;<@ 3@=BI@ 23 3@A/ 1<;@723?/17L; 63 2317272< ;< ?32<;23/? :7@ 13; A/C<@ "<@ =?3473?< 1<;:75< F /@J :7 ;35<17< 3@ A<A/9:3;A3 ?32<;2< /B;>B3 ;< A3;5/ ;7;5M; =/9/17< ?3@723;17/9 $( &
8>398B /0 0669
#?0=>9= 0=:,<>,89=
H CDI67A: K:G 8UBD A6 =>HIDG>6 H: G:E>I: AD B>HBD 8DH6H FJ: =DN I:C:BDH 8DH6H FJ: N6 A6H I:CS6C BJ8=D 6CI:H 9:A )68>B>:CID 9: G>H ID +J:H K:6 JHI:9 0C6 9: A6H A:N:H 9: '>8JG<D HJ EG:BD A:<>HA69DG 9: HE6GI6 :C :A H><AD $3 6 6 FJ>:C H: 9:7: A6 8DCHI>IJ8>UC EDASI>86 9: HE6GI6 ;J: FJ: C69>: 8DB>:H: :C HJ 86H6 8DC 6B><DH N E6G>:CI:H >CK>I69DH D EG> K696B:CI: D H:6 HDA>ID N HJ 6AB6
G6 JC6 B:9>96 8DCIG6 :A !6JHID D H:6 H:G 6;DGIJC69D K:CIJGDHD 9> 8=DHD K>K>:C9D 8DC AJ?DH N DIG6H IDC
I:GS6H 8DBD =68S6C DIGDH EJ:7ADH N6 FJ: A6H B6H6H EV7A>86H :HI676C EGDK>HI6H 8DC A6 B6NDG H:C8>AA:O +DG I6CID ADH :HE6GI6CDH CD 8DBS6C C> :C HJ 86H6 C> :C 86;:I:GS6H :C86 9:C696H 8DBD BJ8=6H 9: A6H FJ: 8DCD8:BDH 'DH :HE6GI6CDH 8DBS6C :C A6 86AA: :C B:H6H EV7A>86H 8DBD 8:CQ76BDH BJ8=6H K:8:H :C 'DH 6A9DH 9: $C9>6C>AA6 HS FJ: ED9:BDH 9:8>G FJ: ADH :HE6GI6CDH ;J:GDC ADH ;JC969DG:H 9: ADH EJ:H IDH FJ: =DN >CK69:C ID9DH ADH G>C8D C:H 9: CJ:HIG6 EGDI:HIDC6 86E>I6A N 6C:M6H
A =>BCD C68>DC6A 8=>A:CD AD 8DBEJHD :A BVH>8D :HE6TDA -6BUC 6GC>C8:G :C *IGD BVH>8D :HE6TDA %6>B: )JCU 8DBEJHD :A B:M>86CD '6H A:IG6 9:A EG>B:G =>BCD 8=>A:CD A6 :H8G>7>U :C :A ED:I6 6G<:CI>CD :GC6G9D 1:G6 N +>CI69D E:GD CD A: H6A>U I6C E>CI6 9D EDGFJ: 9:HEJRH 9:A /G6I69D 9: +6O 8DC HE6T6 H: BD9>;>8U A6 A:IG6 :C ;J: 6JIDG :A ED:I6 8=>A:CD JH:7>D 9: '>AAD N 8DB>:CO6 9>8>:C9D #6 8:H69D A6 AJ8=6 H6C<G>:CI6 N6 :H =:GB6CD :A FJ: ;J: >CK6HDG
A E:G9:GH: J76 E6G6 HE6T6 ]FJ: I6CI6H 8DH6H =67S6 E:G9>9D N6 A6 ED7G: H: :H8G>7>U :C :H6 >HA6 =DN 86HIG>HI6 :A EG>B:G =>BCD C68>DC6A 8J76CD 8JN6 A:IG6 :C 6A<JCDH K:GHDH ;J:GDC :A>B>C69DH EDG D;:CH>KDH ] J76 A>7G: ]46 HE6T6 BJG>U HJ ED9:G N HJ DG<JAAD ^ $( &
H: =DB7G: B: 9:7: ID9D 8J6CID I>:C: ;J> ND FJ>:C A: EGD EDG8>DCU :A IG676?D FJ: 6=DG6 I>: C: N ;J> ND FJ>:C A: EG:H:CIU 6 HJ :C86CI69DG6 BJ?:G FJ: A: =6 96 9DH :HDH IG:H =>?DH 9: ADH FJ: RA H: H>:CI: I6C DG<JAAD \4 :H: =DB 7G: K6 6 C:<6GB: JC6 =67>I68>UC 9JG6CI: JC6 H:B6C6 ]$BEDH>7A: 4 6HS FJ:9U 9: CJ:KD A6 8DH6 =6HI6 FJ: JC6 K:O :C A6 86B6 8DBEGD7U FJ: CD ED9S6 9DGB>G EDGFJ: CJ:K6B:CI: A: :CIG676 A6 9J96 +:GD HJEDCI: CD :H BQH FJ: JC6 HJEDH>8>UC FJ: RA AA: <6G6 6 C:<6GH: \,JR E6H6GS6 FJ:AAD ;J: N6 9:B6H>69D E6G6 .6BJ:A +:GD \8UBD 9:BDC>DH K6 6 ED9:G C:<6GH: H: <G>IU 6 HS B>HBD 8DBD ;J:G6 9: HS .> :H: =DB7G: :HIQ K>KD :H <G68>6H 6 BS ND A: H6AKR 9: BDG>G 6=D<6 9D 8J6C9D :G6 JC C>TD \4 K6 6 H:G 6=DG6 I6C 9:H6<G69:8>9D 8DBD E6G6 9:?6GB: :C A6 86AA: :C EA:CD >CK>:GCD +:GD A6 9J96 H:<JS6 86G8DB>RC9DA: .JEDCI:^ A ED7G: .6BJ:A H: 9:76I>U B>:C IG6H EJ9D !>C6AB:CI: =68>6 A6H 9DH 9: A6 B6T6C6 H6AIU 9: A6 86B6 H: ;J: 6 86H6 9: (D>HRH N H: EJHD 6 ID86G >CH>HI:CI:B:CI: :A I>B7G: =6HI6 FJ: (D>HRH B: 9>D 9DGB>9D A: 67G>U A6 EJ:GI6 N :M8A6BU 6HDB7G69D ].6BJ:A \,JR I: D8JGG: \,JR =68:H 6FJS 6 :HI6H =DG6H 9: A6 CD8=: +:GD E6G6 :CIDC8:H :HI676 .6BJ:A I6C :CD?69D FJ: CD EJ9D >BE:9>G <G>I6G ]/: 9>GR AD FJ: =6<D 6FJS 6 :HI6H =DG6H 9: A6 CD8=: ].> E>:CH6H FJ: KDN 6 E: 9>GI: FJ: B: 69B>I6H :C IJ 86H6 C> H>FJ>:G6 JC HDAD 9S6 :HIQH BJN :FJ>KD869D] ])D FJ>:GD I:C:G C696 FJ: K:G 8DCI><D C> 8DC IJ 86H6 C> 8DC IJ BJ?:G C> 8DC IJ 8DC9:C696 ;6B>A>6 ] A6 B>:G96 ID9DH KDHDIGDH 4 9>8=D :HID 9>D B:9>6 KJ:AI6 E:<U JC EDGI6OD N H: B6G8=U
# !
' %0./$ $ $. ' '6 9>6G>6 EGDN:88>UC 9: A6 E:AS 8JA6 9: /1 HE6TDA6 8DC :A HDAD ISIJ AD $. ' I>:C: JC6 <G6C 6J9>:C 8>6 :C ID96 A6 BRG>86 =>HE6C6 N E6GI>8JA6GB:CI: :C (RM>8D !>AB6G ID9D 8J6CID $H67:A N !:GC6C9D =>8>: GDC 9JG6CI: HJ G:>C69D AA:K6GS6 IG:H 6TDH D BQH 6TDH 9: ;>AB68>UC +D 8DH 9: HJH H:<J>9DG:H D C>C<JCD 8DCD8:GQC 6HE:8IDH EDASI>8DH 9: :HI: H>C<JA6G B6IG>BDC>D 9:A /6CID BDC I6^ +DG :?:BEAD :C AD FJ: K6 9: =>HIDG>6 CD H: 8J:CI6 C> H: 8DCI6GQ A6 G:8I6 ?JHI>8>6 9: A6 86HI:AA6C6 G:> C6 8J6C9D =6AAQC9DH: :C (JG8>6 D8JGG>U JCD 9: ADH A6C8:H FJ: 9: 8DCI>CJD H: :H8:C>;>8676C EDG :A A: K6CI: N :A HJG 9: 6FJ:AA6 E:CSCHJA6
A 6A86A9: B6NDG 9: A6H I>:GG6H 9:A 9JFJ: 9: A76 9:A FJ: 9:H8:C9S6 A6 E>CIDG:H86 9JFJ:H6 G:8>RC ;6AA:8>96 N :A 9: A6H 9:A 6A86A9: 9: .6AK6I>:GG6 >CHJAI6GDC N 6E6A:6GDC 6A G:86J969DG 9: G:CI6H 9:A G:>CD FJ: >76 68DBE6
T69D 9: HJ :H8G>76CD CI:G696 $H6 7:A 9: 6FJ:A HJ8:HD :CK>U H:8G:I6 B:CI: JC 6A86A9: 9: 8DGI: E6G6 FJ: 6K:G><J6H: A6 K:G969 9: I6A ;6AI6 6 A6 #68>:C96 9: A6 DGI: : =>8>:H: ?JH I>8>6 A 6A86A9: EG:K>6 HJB6G>6 >C K:HI><68>UC :C8DCIGU 6 6FJ:A E6G 9: B6A6C9G>C:H DG<6C>O69DH N6 :HI6 76C 9: BD96 N ADH 6EG:H6GDC 8DBD :G6 C6IJG6A N I6B7>RC 6JCFJ: CD :G6 C6IJG6A 6 JCD 9: ADH B6ADHDH AD 6=DG86GDC :C :A B>HBD AJ<6G 9DC9: 8DB:I>U :A 9:A>ID :C I6CID 6 DIGD AD :CK>6GDC 6CI: ADH D>9DG:H 9: A6 86C 8>AA:GS6 9: 16AA69DA>9 FJ: C> 8DGIDH N BJ8=D B:CDH E:G:ODHDH A: 8DGI6 GDC A6 B6CD 9:G:8=6 ]AD B6AD ;J: FJ: CD H67S6 :H8G>7>G 8DC A6 >OFJ>:G 96 N 69:BQH E6G6 B6NDG K:G <W:CO6 AD :MIG6T6GDC 9:A G:>CD D H:6 FJ: AD 9:HI:GG6GDC N CD 6 6 I6AJT6 FJ: ID96KS6 :G6 9: HE6T6 N AD H:<J>GQ H>:C9D H>CD 6 DIGD E6SH 9DC9: CD 8DB>:G6 E6:AA6 EJAEDH 6 A6 <6AA:<6 N I6CI6H DIG6H 9:A>8>6H
A 8UC8A6K: D 8DC8A6K: 8DC AA6K: H:<VC ADH EG> B:GDH A6I>CDH :G6 JC 8J6GI>ID D =67>I68>UC E:FJ:T6 :C 8JND 86HD ED9:BDH 86A>;>86G 6HS 6A 8J6GID 9: 76TD FJ: HJ:A: H:G :A BQH G:9J8>9D 9: A6 86H6 E:GD :C G:A><>UC :H A6 6H6B7A:6 9: 86G9:C6A:H E6G6 :A: <>G +6E6 #: K>HID :C ADH B:9>DH EDG HJEJ:HID H>:I: 8UC8A6K:H 9:H9: A6 BJ:GI: 9: +SD 3$ 6A 9: !G6C8>H8D : A6 9JG68>UC 9: :HI6H 6H6B7A:6H :HIQ AA:C6 A6 =>HIDG>6 /G:H H: G:6A>O6GDC :C -DB6 FJ: HUAD 9JG6GDC JC 9S6 :A 9: G:OOD :C :C :A FJ: ;J: :A:<>9D $CD8:C8>D 1 N ADH 9DH 9:A 16I>86CD E6G6 :A: <>G 6 +SD 3$$ :C N %J6C +67AD $ :C A BQH A6G<D 9: ADH 8UC8A6K:H ;J: :A 9: 1>I:G7D E6G6 :A:<>G 6 "G:<DG>D 3 EJ:H 9JGU 8:G86 9: IG:H 6TDH I:GB> C6C9D :C H :CIDC8:H FJ: D8JGG: AD FJ: H> <J: 8DBD ADH 86G9:C6A:H CD EJ:9:C H6A>G 9:A 8UC 8A6K: EDG FJ: :HIQC 76?D 8A6K: AA6K: =6HI6 =67:G :A:<>9D +6E6 6CI: A6 9:H:HE:G68>UC 9: A6 <:CI: # !
BQH ADH G:8DCHI>IJN:CI:H 86A9DH 9: A6 ->D?6 ] JQCIDH B6C8DH 9:HI:GG69DH =67GS6 =DN H> H: H><J>:G6 6FJ:A I>ED 9: ?JHI>8>6
]N 8A6GD 9: ADH 9>8=DHDH B:9>DH N =6HI6 9: A6 B>H B6 $<A:H>6 :C <:C:G6A :A 6E>IQC 9: A6 >J969 N "J6G9>QC 9:A 8UC8A6K: -:>C>:G: "6II> DG9:CU 9:H B6CI:A6G :A I:?69D 9DC9: :HI676 G:JC>9D :A 8UC8A6 K: E6G6 D7A><6G 6 ADH 86G9:C6A:H 76?D A6 >C8A:B:C 8>6 9:A I>:BED 6 9:8>9>G A6 :A:88>UC 9:A +6E6 H> <J>:CI: ]4 <G68>6H 6 ADH :HIDGCJ9DH 9: ID9DH ADH 86G9:C6A:H H: EJ9D EGDCJC8>6G :A +6E6 =67:BJH
#6,C, /0 &,8 #0/<9
$( &
JG6CI: A6H VAI>B6H 9R8696H A6 EGQ8I>86 BR9>86 =6 86B7>69D 9: B6C:G6 G69>86A )D =6 E6H69D B: 9>D H><AD N A6 I:8CDAD<S6 CDH =6 =:8=D BD9>;>86G 9: B6C:G6 9GQHI>86 A6 B6C:G6 :C FJR =DN H: 6I>:C9:C ADH 9>;:G:CI:H EGD8:HDH BDG7DHDH ':?DH :HIQC ADH 9S6H :C FJ: A6 G69>DAD<S6 6 IG6KRH 9: ADH ;>AB:H EA6 CDH :G6 A6 VC>86 =:GG6B>:CI6 9: >B6<:C JI>A>O696 E6G6 68:G86GH: 6 JC EGD767A: 9>6<CUHI>8D #DN :C 9S6 ADH :HIJ9>DH 9: >B6<:C H: =6C BJAI>EA>869D N CDH D;G: 8:C I:8CDAD<S6H 8DBD HDC IDBD<G6;S6H G:HDC6C8>6H B6<CRI>86H JAIG6HDC>9DH :HIJ9>DH 8DBEJI69DH 8DC :B>H>UC 9: EDH>IGDC:H ADH :HIJ9>DH 9: B:9>8>C6 CJ8A:6G N BJ8=DH DIGDH BQH +:GD ADH 6K6C8:H CD H: G:HIG>C<:C 6 RHI6 QG:6 N :C *C8DAD<S6 N #:B6IDAD<S6 ADH 6K6C8:H :C +6IDAD<S6 :C <:CRI>86 N 7>DAD<S6 BDA:8JA6G =6C EJ:HID :C 8A6GD FJ: :CIG: DIG6H E6IDAD<S6H :A 8QC8:G 9: 8J6AFJ>:G UG<6CD :C G:6A>969 8DBEG:C9: JC :HE:8IGD 9: :C;:GB:969:H 8DC 8DBEDGI6B>:CIDH I6C K6G>69DH FJ: JCD ED9GS6 6H:<JG6G FJ: :HI6 :C;:GB:969 :H :HE:8S;>86 E6G6 8696 E:GHDC6 : HJ:GI: FJ: =DN :C 9S6 =6 C68>9D A6 9:;>C>8>UC 9: /:G6E>6 +:GHDC6A>O696 N FJ: G:EG: H:CI6 A6 B6C:G6 G68>DC6A 9:A IG6I6B>:CID FJ: H: E:G H><J: :C :A I:GG:CD 9: A6 *C8DAD<S6 /6B7>RC :A :H I><B6 9:A 8QC8:G 8DBD :C;:GB:969 >CK6G>67A:B:C I: ;6I6A =6 86B7>69D N HDC BJ8=6H A6H K6G>6CI:H 9: RHI6 :C;:GB:969 FJ: =DN HDC HJH8:EI>7A:H 9: B6 C:?D 86E6O 9: 8JG6G N 86B7>6G A6 =>HIDG>6 9: RHI: E69:8>B>:CID : 6FJS A6 >CK>I68>UC 6 9:?6G 9: 8DC $( &
9:C6G 6A E68>:CI: 8DC 8QC8:G 6 BDG>G
C DIGDH QB 7>IDH A6 B6C:G6 9: G:6A>O6G >CI:GK:C8>DC:H FJ>GVG<> 86H N A6 G:=67>A>I68>UC 9: ADH E68>:CI:H HDB:I>9DH 6 :AA6H I6B7>RC =6 :ME:G>B:CI69D 69:A6CIDH CDI67A:H :CIG: :AADH :A 69K:C>B>:CID 9: A6H >CI:GK:C8>DC:H A6E6GDH8UE>86H FJ: :HIQC EG:H:CI:H :C ID96H A6H :HE:8>6A>969:H FJ>GVG<>86H N FJ: =6C G:KDAJ8>DC6 9D A6 8>GJ<S6 6A ><J6A FJ: ADH B>8GDH8DE>DH FJ>GVG<> 8DH #DN :C 9S6 A6 G:K6H8JA6G>O68>UC 9: 8DG6OUC =6 K>G69D 6 ADH EGD8:HDH :C9DK6H8JA6G:H ADH 8J6A:H HDC 86E68:H 9: G::BEA6O6G :C BJ8=DH 86HDH 6 A6 8>GJ <S6 +D9GS6BDH D8JE6G ID96 A6 G:K>HI6 E6G6 :CJB: G6G ADH 69:A6CIDH FJ: =DN :C 9S6 :M>HI:C :C 8696 JC6 9: A6H :HE:8>6A>969:H N 8DBD :AADH =6C >9D IG6CH;DG B6C9D A6 :ME:8I6I>K6 9: K>96 ADH H:G:H =JB6CDH =6HI6 CJ:HIGDH 9S6H DH 8DH6H CD 9:7:C 86B7>6G A6 EG>B:G6 :H FJ: H: I:C<6 EG:H:CI: FJ: A6 H6<68> 969 8ASC>86 9:A BR9>8D :H HJ 86E>I6A BQH EG:8>69D N 6 E6GI>G 9: :AA6 C68:GQC ADH :HIJ9>DH FJ: H: G:FJ>: G:C E6G6 AA:<6G 6A 9>6<CUHI>8D 8DGG:8ID 'D 8DCIG6 G>D
:HE:G6G FJ: ADH :HIJ9>DH CDH 9><6C :A 9>6< CUHI>8D 8DC ;G:8J:C8>6 686GG:6C 8DC;JH>UC N 9:HDG 9:C '6 H:<JC96 :H 8DCH:GK6G A6 86A>9:O =JB6C6 N 7G>C96GCDH 8DC 6;:8ID 6CI: A6 :C;:GB:969 9: CJ:H IGDH E68>:CI:H !>C6AB:CI: A6 H6AJ9 :H AD BQH EG: 8>69D FJ: I:C:BDH N 8J6C9D H: E>:G9: 6=S :HI6GQ JC BR9>8D E6G6 6NJ96G 6 G:8JE:G6GA6
< )G.>9< &,648,= %95,= '<,=:6,8>0= /0 F/?6, L=0, # !
#6N FJ: H67:GAD :A 9: 9> 8>:B7G: 9: H: 8DB:COU 6 8:A:7G6G :A S6 $CI:GC68>DC6A 9:A (R9>8D N H: IDBU :H: 9S6 E6G6 8DCB:BDG6G :A C68>B>:CID 9:A BR9>8D 8J76CD 6GADH % !>CA6N 9:H8J7G>9DG 9: IG6CHB> HDG 9: A6 I:B>7A: ;>:7G: 6B6G>AA6
C (RM>8D H: >CHI>IJN: :H: 9S6 :A 9: D8IJ7G: 9: E6G6 8DC B:BDG6G A6 8G:68>UC 9:A HI67A: 8>B>:CID 9: >:C8>6H (R9>86H :C 6CI:8:9:CI: 9: A6 68IJ6A !6 8JAI69 9: (:9>8>C6 9: A6 0) ( AJ: <D 9: A6 8A6JHJG6 9: A6 :CIDC8:H 0C>K:GH>969 )68>DC6A N +DCI>;>8>6 EDG 9:8G:ID 9:A +G:H>9:CI: 16A:CISC
< ,<69= 486,B
< 9=F ?4= &,85?<59 B ,8406 &?E<0C #/>0 /0 6, &
# !
$( &
<0= 098,</9 "<>02, ,-,6 B &<, .98 06 # 9=F
,8?06 <4,= #/>0 /06 08><9 =>?<4,89 B 0<8,8/9 #0/<,5, B &<,
$( &
# !
DÍA DEL MÉDICO
< %920649 %0@?06>, B &<,
"UB:O !6GS6H H: ;JC9>U A6 86GG: G6 9: BR9>8D N 8>GJ?6CD
.>C :B76G<D =6N DIGD 96ID JC I6CID 9>;:G:CI: FJ: 9>8: C (RM> 8D :A S6 9:A (R9>8D N6 H: 8:A: 7G676 9:H9: :A 9: D8IJ7G: 9:
C H: :;:8IJU :C J:GC6K686 JC6 DCK:C8>UC 9: .>C9>86IDH (R9>8DH DC;:9:G6 9DH 9: A6 -:EV7A>86 N :C :AA6 H: 68DG9U FJ: :A S6 9:A (R9>8D H: 8DCH:GK6G6 :C :H6 ;:8=6 9:7>9D 6 AD FJ: :A 9: D8IJ7G: 9:A H><AD 3$3 =67S6 =:8=D :A +G:H>9:CI: "UB:O !6GS6H
.:6 AD FJ: H:6 N 8DBD H:6 :A 86HD :H FJ: CJ:HIGD :C:;>8:C8>6 ID9DH ADH 6TDH ;:HI:?6 6 HJH BR 9>8DH :C :A <G6C .6AUC 9: ADH 6C 9>A:H 6A FJ: 68J9:C 8DC ;6B>A>6G:H H: G>;6C 8DH6H N :CIG: ID9D AD FJ: H: G>;6 N6 H:6 G:6A 8DC8G:ID D 67H IG68ID :HIQ 9:H9: JC6 EA6C8=6 6 JC I:A:K>HDG 9: BJ8=6H EJA<696H N 8A6GD ID9DH H6A:C 8DC 6A<D 86H> H>:BEG: 9: EGDK:8=D E6G6 A6 8D # !
8>C6 D A6 H6A6 9: HJ 86H6 D 9: HJ 8DCHJAIDG>D D E6G6 JC K>6?: 6 3D8=>B>A8D
4 8DBD ID9DH ADH 6TDH H: =68: JC G:8DCD8>B>:CID 6 ADH BR 9>8DH FJ: 8JBEA:C 9:I:GB>C69DH
CVB:GD 9: 6TDH :C :A H:GK>8>D 9: CJ:HIGD #DHE>I6A HE6TDA H>:C9D :C :HI6 D86H>UC G:8DCD8>9DH ADH G:H %DG<: (>?6G:H (DGQC CID C>D 6HI>AAD (6<6T6 N G A:?6C 9GD 6T>O6G:H (68S6H
#964.6G84., 8206 (<<,C,
$( &
$( &
# !
# !
$( &
C A6 :H8J:A6 9>B: +:E>ID \8UBD BJG>U G>HIU76A DAUC _ ]#:8=D E:96ODH _ \ UC9: A:SHI: H:B:?6CI: IDCI:GS6 _ (> A>7GD 9>8: G>HIU76A DAUC HJ K>96 :C E6GI:H
0C G:EDGI:GD CDI>;>8676 :C :A E:G>U9>8D JC 6H:H>C6ID D8JGG>9D :A 9S6 6CI:G>DG N 6HS AD 9:H8G>7>U A 8G>B>C6A =>OD 9DH 9>HE6GDH 8DC IG6 A6 >C;:A>O KS8I>B6 :A EG>B:GD A6 9:?U BJ:GI6 :C :A 68ID E:GD :A H:<JC9D 6;DGIJC696B:CI: HUAD A: 86JHU JC6H =:G>96H A:K:H
0C H6HIG: :CKS6 6 HJ 6EG:C 9>O 6 8D7G6G JC6 8J:CI6 E:C9>:C I: 9: JC B6A E6<69DG J6C9D :A 8=>8D KJ:AK: A: 9>8: :A H6HIG: EJ:HID 8J6AFJ>:G 8DH6 6 FJ: :H: =DB7G: I: =6 G:8>7>9D BJN B6A
_ A 8DCIG6G>D A: =6 <JHI69D I6C ID B> K>H>I6 FJ: B: =6 9>8=D FJ: KJ:AK6 DIGD 9S6
C JC6 H6A6 9: 8DC8>:GID :A E>6C>HI6 H: 9>G><: 6A EV7A>8D .: TDG:H KDN 6 I:C:G :A =DCDG 9: :?: 8JI6G JC6 H>C;DCS6 :C IG:H E6GI:H EG>B:G6 :C A6 BDCI6T6 H:<JC 96 6 A6 DG>AA6 9:A GSD N I:G8:G6 :C :A 7DHFJ: 4 JC :HE:8I69DG A: 9>8: ]+:GD :HD CD :H JC6 H>C ;DCS6 :HD :H JC E>6CDG6B6 A<D E6G:8>9D A: E6HU 6 A6 <G6C IGQ<>86 :HE6TDA6 (6G<6G>I6 3>G<J
:8A6B676 :C :H8:C6 JC EQGG6 ;D :C :A FJ: 9:8S6 4D HDN 9: =>: GGD EDG 9:CIGD N 9: H:96 EDG ;J: G6 N JC :HE:8I69DG A: <G>I6 +J:H :HD :H JC E6G6<J6H (DG6A:?6 9: JC6 ;Q7JA6 \1:H =>?D ] A AD7D H: 8DB>U :A 8DG9:G>ID EDGFJ: CD :G6 7J:CD _ ].S AD 8DBEG:C9D B6BQ H> :A 8DG9:G>ID =J7>:H: H>9D 7J:CD CDH AD =J7>RG6BDH 8DB>9D CDHDIGDH '6 BJ?:G EGDI:HI6 6CI: HJ B6G>9D ])JC86 H6A>BDH 9: 86H6 C> K>H>I6BDH 6 C69>: )DH E6H6 BDH A6H CD8=:H 6FJS ;G:CI: 6A I: A:K>HDG^ /G6H G:;A:M>DC6G JC BD B:CID :A B6G>9D 9>8: \4 H> 86B7>6BDH 9: 6H>:CID $( &
# !
9 (3?C717< 23 )/;/A<9<5J/ 23 9/ (<1732/2 23 3;34713;17/ @ =/K<9/ /9 1/?5< 23 9/ (?/ )3?3 &?3;23@ =?3@3;AL 3; /9 B27A< ?7< 23 9/ &<9719J;71/ S;539 *??/G/ (/?/16< 39 970?< 23 ;/ #/?A6/ 735< 9 ;7K< =?33@1<9/? 3; 2B39< B;/ 931AB?/ 7;A3?3@/;A3 F @<0?3 A<2< ;313@/?7/ =/?/ 1<;< 13? 1L:< /1AB/? /;A3 9/ ;7K3G 3; 9<@ 1/@<@ 23 4/99317:73;A< 23 B; @3? >B3?72< ;/ #/?A6/ ;<@ <4?3 13 1<; @3;1799/ F 3;A3;27093 =?< @/ 9/ :/;3?/ 23 3;4?3;A/? 3@<@ :<:3;A<@ 3; >B3 @3 238/ 9/ C72/ =/?/ 3;A?/? 3; 9/ :B3?A3 B;/ =/ 9/0?/ >B3 7:=<;3 =3?< >B3 23@ 23 >B3 ;/13:<@ 3@AH 1<; ;<@<
#9<>,/, /06 64-<9 :<0=08>,/9
A?<@ 713 9/ /BA<?/ >B3 9 <083 A7C< =?7;17=/9 23 3@A3 970?< 3@ 39 23 @3;@70797G/? / 9<@ /2B9A<@ /13? 1/ 23 9/@ ;313@72/23@ 239 =?33@ 1<9/? 3; 2B39< =/?/ >B3 @3=/; ?3 1<;<13?9/@ =B3@ @L9< /@J @3?H; A<:/2/@ 3; 1B3;A/ F /A3;272/@ &/?/ 3C7A/? >B3 39 ;7K< A3;5/ >B3 @B4?7? /7@9/2< 3@ 7:=?3@17;27093 ?31<;<13? @B 1/=/172/2 23 @3; A7? 39 2<9<? =<? 9/ :B3?A3 23 B; @3? >B3?72< F 9/ ;313@72/2 23 993C/? / 1/0< B; 2B39<
'0<0 #<08/0= B 8, ,<>3, 4029
# !
$( &
],JR EG>C8>E>D K>K: >DH +:GD K:6 :A BR9>8D %DH:E= $<C68: ]ID I6A %DHR $<C68>D "J>AADISC BJN ;G6C8RH RA C68>9D :C N FJ: 676C9DCU :HI: ES86GD BJC9D 6TDH 9:HEJRH :G6 I6C E:GD I6C =JB6C>I6G>D FJ: >CK:CIU JC B:86 C>HBD E6G6 BDG>G H>C 9:8>G C> ESD
'6 8DH6 :G6 H:C8>AA6 H:<VC RA
1:6 EG>B:GD =68: JC6 CD BJN 9> K:GI>96 :MEA>868>UC 9: AD FJ: :A 8DC9:C69D HJ;G: :HE:G6C9D A6 =DG6 D ADH H:<JC9DH FJ: K>K: :A 8DC9:C69D B>:CIG6H :HE:G6 A6 =DG6 D :A H:<JC9D 9: HJ BJ:GI:
A6GD :H 9: >B6<>C6G FJ: :A ED 7G: CD 9JGB>:G6 C> JC B>CJID E:C H6C9D :C AD FJ: A: K6 6 E6H6G E:GD CD :C AD FJ: =>OD E6G6 FJ: A: E6 H6G6 AD FJ: 6A ;>C6A A: ID8U (:H>R "J>AADISC =68>RC9DH: 86G<6 9: ID9D AD FJ: :A 8DC9:C69D E69: 8:GS6 :HE:G6C9D A6 :?:8J8>UC FJ: :CIDC8:H AD CDGB6A :G6 A6 =DG86 :A <6GGDI: K>A N DIG6H CDGB6H H>B> A6G:H H: A: K>CD 6 A6 867:O6 A6 ;DG B6 BQH H6C6 N GQE>96 E6G6 FJ>
I6GH: 6A 8DC9:C69D N H>C FJ: 6 C69>: H: A: D8JGG>:G6 9:HEJRH 8DA <6G :A G:HID 9:A 8J:GED 9: JC EJ:CI: EDG :?:BEAD 4 :CIDC8:H :A H:TDG "J>AADISC AA:<U 6 A6 8DC8AJ H>UC 9: FJ: :HI: B:9>D 9: B6C 96G 6 JC 8DC9:C69D K:G A6H A:8=J <6H EDG A6 G6SO :H A6 ;DGB6 BQH GQE>96 N A>BE>6 E6G6 9:H=68:GH:
9: ADH B6ADG6H N 9: RHIDH :H IQC AA:C6H A6H 8QG8:A:H :C ID9D :HI: 8D8=>CD BJC9D 6A FJ: :H I6BDH B6I6C9D ED8D 6 ED8D N AD B:?DG E6G6 RA H:GS6 A6 <J>AADI> C6 FJ: :H 6 A6 FJ: AD :HI6BDH B6C96C9D A6GD FJ: 8J6C9D :HD HJ8:96 ND EDG B> E6GI: ]B: KDN E6G6 (RG>96
)D H6A: A6 CDI6 :C :HI: CVB:GD EDGFJ: A6 G:K>HI6 H: 6GB6 N H: :CIG:<6 6 A6 >BEG:CI6 9S6H 6CI:H 9:A 7>B:HIG: :C IJGCD 0C6 :C86CI69DG6 C;:GB:G6 CDH :CIG:<U :C B6CD ]FJR :A:<6CI: :A 9: 9>8>:B7G: A6 >CK>I68>UC E6G6 :A ;:HI:?D N 8A6GD :HI6 CDI6 CD AA:K6 A6H 8DGG:HEDC9>:CI:H ;DID<G6;S6H EDGFJ:^ 7J:CD CD H6 7S6BDH H> 6H>HI>GS6BDH EJ:H CJ:HIGD I>:BED N6 AD 8DC I6BDH 9: 9DB>C<D 6 9DB>C<D N CD 9: 7>B:HIG: 6 7>B:HIG: +:GD EGDB:I:BDH H> PA AD FJ>:G: :HI6G EG: H:CI:H N 96GA: KJ:AD 6 A6 =>A68=6 IDB6C9D ;DIDH 6 ID 86H 86G6H N JC>;DGB:H E6G6 EJ7A>86GA6H :C :A CVB:GD 9: B6GOD 67G>A +DG I6CID 8DBD 9:8S6 +:9GD 16G<6H BJN 6<G69:8>9D BJN 6<G69:8>9D BJN 6<G69:8>9D EDG A6 69:A6CI696 >CK>I68>UC $( &
# !
; B; :I271< 23 <?753; 1/:=3@7;< F =<? 3@A3 <?753; B@A32 9< C/ / 1<:=?3;23? +7;G3; &?73@@;7AG ;/172< 3; (793@7/ 3; F 3@< >B32/ 3; &<9<;7/ F 4/993172< 3; ;< @/03:<@ @7 23 4?J< < /6<5/2< 1<;@A?BFL B; @/;/A<?7< 23 /5B/ 4?J/ F /99J ;/17L 9/ 672?<A3?/=7/ 3@23 A?/AL / @B@ =?7:3?<@ =/173;A3@ A<2<@ 1/:=3@7;<@ 1<:< I9 1<; /5B/ 4?J/ F 19/?< @73;2< A/; 239 ;<?A3 3B?<=3< @/92?J/ C3?2/23 ?/:3;A3 639/2/ *; /K< /;A3@ I9 :7@:< @3 6/0J/ 1B?/2< 23 B;/ =B9 :<;J/ 1<; /5B/ 639/2/ F /23:H@ A/:07I; 23 B;/@ 1<@A799/@ >B3 @3 93 6/0J/; ?<A< < / 9< :38<? @3 9/@ ?<: =7L B; =/173;A3 23@1<;A3;A< 9 =?7;17=7< @3 97:7A/0/ / 9<@ /=L@7A<@ 3:=/=/2<@ 3; /5B/ 4?J/ F / 9<@ 9/C/2<@ 27?31A/:3;A3 1<; 3@3 % 1/@7 1<;539/2< F / =/? A7? 23 @B@ =?3@1?7=17<;3@ 3?/; 0/K<@ 4?J<@ =?313272<@ 23 @B2< ?/17L; &<? 9< C7@A< 3@3 1/:07< 0?B@1< 23 A3:=3?/AB?/ 3?/ 9/ 1B ?/17L; 239 :/9 "B5< 1<:3;GL 1<; 0/K<@ =/?17/93@ 1<:< 9<@ 0/K<@ 23 /@73;A< 23 =73@ 23 <8<@ 23 1/03G/ F 3;A<;13@ 7;A?<2B13 3; 39
,8,8>4,6 /0 ,2?, 1<G,
A?/A/:73;A< 9/ 2B16/ 23 /5B/ 4?J/ QA/; ?71/ 1B/;2< 3@ 1/973;A3 &3?< B; =/173;A3 >B3 @3 /5?/CL 1<; A/;A/ /5B/ 639/2/ 9< 23:/;2L =<? 16/?9/AH; :/@ 3; 93 2/; 9/ /BA<?7G/17L; <4717/9 =/?/ 27?757? B; @/;/A<?7< 23 /5B/ 4?J/ /B;>B3 ;< =B323 BA797G/? :3271/:3;A<@ ;7 <=3?/? - 9< >B3 @<; 9/@ 1<@/@ /2>B73?3 5?/; 4/:/ 5?/17/@ / <A?< :I271< %?A39 >B3 3@1?707L
.J BJ?:G :HIQ :C A6H VAI>B6H \ : HJ :C;:GB:969 )D 9: A6 A>HI6
D8IDG \8UBD =6 >9D A6 DE:G68>UC 9: B> BJ?:G \*E:G68>UC +:GD \CD :G6 JC6 6JIDEH>6 D8IDG K:C<D 6 FJ: B: DH8JAI: ]-QE>9D :C :A 6GB6G>D D8IDG :H FJ: CD B: 9:8>9D 6 DE:G6GB:^ \+DG FJR H FJ: :H JC6 DE:G68>UC BJN 86G6 \4 6 JHI:9 FJR BQH A: 96 H> A6 K6C 6 E6<6G HJH =:G:9:GDH \4 :CIDC8:H CD =6N BQH G:B:9>D FJ: DE:G6GB: :H9: AJ: <D ]+:GD H> CD I:C<D C696 ](:?DG 6HS A6 DE:G68>UC H:GQ BQH ;Q8>A] # !
C/?7<@ /?AJ1B9<@ 1<; <9<? 23 =?<=/ 5/;2/ >B3 4/C<?31J/ / &?73@@;7AG ; 9935/; / @/;/A<?7< 3; 43?:<@ F @37@ /K<@ 23@=BI@ F/ @<; F 3; 13?1/ 23 F 3;A?3 399<@ :I271<@ >B3 @3 4/:797/?7G/; 1<; 9/ 672?<A3?/=7/ 9 A?/A/:73;A< Q0/6 3?/ B;/ A<;A3 ?J/ 3;C<9AB?/@ @B2<?/A7C/@ 0/K<@ 4?J<@ 1<:=93A<@ 27@A7;A<@ 0/K<@ =/?17/93@ 2B16/@ /=L@7A<@ 6M:3 2<@ 383?1717<@ /9 /7?3 970?3 0303? /5B/ F /97:3;A< A<;7471/;A3 Q&B3@ @J 0/?/A< @J >B3 3@ =3?< @75/ 93 F3;2< &<? ?359/ 53;3?/9 9< >B3 6/1J/ 3?/ 23@=3?A/? /9 =/173;A3 / 9/ 1B/A?< 23 9/ :/2?B5/2/ F @3 93 <0975/0/ / @B2/? 3;CB39A< 3; B;/ A</99/ 23 9/;/ B;/ :327/ 6<?/ 1<:< :J;7:< @35BJ/ B; 0/K< 1<; /5B/ 4?J/ < 23 :/;/;A7/9 1<;A7;B/17L; 39 =/173;A3 2/0/ B; =/@3< =/?/ 3;A?/? 39 1/9<? 9 23 @/FB;< A3;J/ >B3 @3? / 9/@ 23 9/ :/K/;/ F 1<;@7@AJ/ 3; 93163 4?J/ Q19/?< F =/; 7;A35?/9 Q&B3@ :7?3 B@A32 723/9 =/?/ 0/8/? 23 =3@< @7; =3?23? 39 =/@< F ;< 1/3? /9 =7@< $( &
#9< ><, %9.G9 #F<0C 40C #=4.9>0<,:0?>, <9.49 :0<0C 30=:,896 .97
\ DCD8:H 6 6A<JC6 E:GHDC6 6 A6 FJ: A: 8J:HI: BJ8=D IG676?D =6 7A6G 9: HJH H:CI>B>:CIDH CIDC8:H EJ:9: H:G FJ: 6FJ:AA6 E:GHDC6 I:C <6 6A:M>I>B>6 :A 8J6A :H JC IG6HIDGCD 8JN6 86G68I:GSHI>86 EG>C8>E6A :H A6 9>;>8JAI69 D >C86E68>969 E6G6 >9:C I>;>86G N 9:H8G>7>G A6H :BD8>DC:H N H:CI>B>:CIDH +:GD 8J>969D =6N BJ8=6H E:GHDC6H FJ: H67:C AD FJ: H>:CI:C E:GD CD A:H <JHI6 =67A6G 9: :AAD EDGFJ: HDC G:H:GK696H EDGFJ: HDC E:GHDC6H ISB>96H D EJ:9: 96G H: :A 86HD FJ: =6N6 H:CI>B>:CIDH :C8DCIG69DH N 86JH: 8DC;JH>UC N CD 9:7: 8DC;JC9>GH: 8DC :HI: IG6HIDG CD
+:GHDC6H FJ>:C:H G:6AB:CI: 8J:CI6C 8DC A6 6A:M>I>B>6 EG:H:C I6C 6CDB6AS6H :C 6A<JC6H ODC6H 9:A 8:G:7GD G:A68>DC696H 8DC A6H :BD8>DC:H HI6H E:GHDC6H G:6A B:CI: CD H67:C C> :CI>:C9:C AD FJ: H>:CI:C C> 8DBEG:C9:C A6H
:BD8>DC:H FJ: EGDN:8I6C ADH 9: BQH .J:A:C H:G E:GHDC6H FJ: CD 8J:CI6C 8DC JC IDCD 6;:8I>KD :C A6 KDO EDG AD FJ: HJ B6C:G6 9: =6 7A6G :H BJN EA6C6 D E6G:8>:H: FJ: HDC E:GHDC6H BJN GS<>96H N CD <:HI>8JA6C JC69D 6 AD 6CI:G>DG 8J:CI6C 8DC JC E:CH6B>:CID H>B 7UA>8D BJN ED7G: N H: A>B>I6C 6 AD 8DC8G:ID +J:9: H:G FJ: H:6C E:G HDC6H FJ: 68IV:C :C K:O 9: =6 7A6G HD7G: AD HJ7?:I>KD
+6G:8: FJ: :H JC IG6HIDGCD BJN G6GD N ED8D ;G:8J:CI: E:GD :C G:6A> 969 6;:8I6 6 BJ8=DH BQH 6 =DB 7G:H FJ: 6 BJ?:G:H .>BEA:B:CI: E:GHDC6H 8DC IG6HIDGCD 6JI>HI6 8DC IG6HIDGCD EH>8DHDBQI>8D 8DC IG6H IDGCD EDG IDM>8DB6CS6H D FJ: I:C <6C 6A<VC EGD7A:B6 EH>8DAU<>8D ED9GS6C EG:H:CI6GA6 EDG AD FJ: 9: 8696 E:GHDC6H 6EGDM>B696B:C I: E69:8:C 6A:M>I>B>6
H >BEDGI6CI: FJ: ADH C>TDH
9:H9: E:FJ:TDH 6EG:C96C 6 H:C I>G 6 >9:CI>;>86G N 6 :MEG:H6G A6H H:C H68>DC:H DG<QC>86H 9: HJ 8J:GED 8J6C9D :HIQC C:GK>DHDH 8J6C9D H>:CI:C B>:9D 6C<JHI>6 ;:A>8>969 :CD?D N ID96H A6H :BD8>DC:H E6G6 FJ: K6N6C 6HD8>QC9DA6H 8DC A6H H:CH68>DC:H N 86B7>DH ;SH>8DH 6HS B>HBD =68:GA:H K:G FJ: CD I>:C: C696 9: B6AD AADG6G C> :CD?6GH: H>:BEG: N 8J6C9D 6EG:C96C 6 =6 8:GAD 8DC 6H:GI>K>969 HID A: 6NJ 96GQ I6B7>RC 6 8DBE6GI>G H:CI> B>:CIDH N 6 G:A68>DC6GH: 8DC ADH 9:BQH EDG AD FJ: A6 6I:C8>UC :9J 868>UC 8DCI:C8>UC N 8DBJC>868>UC 9: ADH E69G:H 6 ADH =>?DH :H EG>BDG 9>6A
'6H E:GHDC6H 8DC 6A:M>I>B>6 9:7:C EG>B:GD FJ: C696 H:G 8DCH8>:CI:H 9:A IG6HIDGCD EDHI: G>DGB:CI: >G IG676?6C9D E6HD 6 E6HD E6G6 6EG:C9:G 6 >9:CI>;>86G :BD8>DC:H N FJR G:HEJ:HI6H HDC 69:8J696H C8DCIG6G IR8C>86H E6G6 6;GDCI6G ADH EGD7A:B6H HD7G: ID9D ADH >CI:GE:GHDC6A:H N AA:K6G 6 867D JC6 GJI>C6 9: 68I>K>969:H E6G6 9>HB>CJ>G A6 6CH>:969
C :A E6H69D CVB:GD 9: ,0c^. EJ7A> 86BDH JC6 7G:K: 7>D<G6;S6 9:A G ':DEDA9D .6A6O6G 1>C>:<G6 N 6A 7JH86G :C "**"' HJ ;DID<G6;S6 CDH 9>D A6 9: 'QO6GD QG9:C6H :C HJ JC I6CID 6K6CO696 ?JK:CIJ9 A6 FJ: IDB6BDH 8DBD A6 9:A B:C8>DC69D BR9>8D #:BDH 7JH869D 9: CJ:KD A6 9:A G :C 8J:HI>UC N :;:8I>K6B:CI: 8DB:I>BDH :A :GGDG 9: 8DC;JC9>G 6A E:GHDC6?: EDGFJ: :G6 A6 EG>B:G6 ;DID FJ: 6E6G:8S6 :C A6 7>D<G6;S6 9:A G .6A6O6G
+DG I6CID :C :HI: CVB:GD 69:BQH 9: D;G:8:G B>A 9>H8JA E6H EDG A6 E>;>6 8DB:I>96 G:8DG96BDH 6 1DAI6>G: FJ: 9>?D '6 >9>DI:O :H JC6 :C;:GB:969 )D :H :A :C;:GBD :A FJ: HJ;G: EDG :AA6 H>CD ADH 9:BQH : CJ:KD B>A :M8JH6H
'DH 6CI><JDH A6I>CDH AD 9>?:GDC B:?DG :GG6G: =JB6CJB :HI N .RC:86 9>?D :C JCD 9: HJH I:MIDH E:GH:K:G6G: 6JI:B 9>67UA>8JB D H:6 FJ: E:GH:K:G6G :C :A :GGDG :H 9>67UA>8D ],JR 8DG6?: +:GD 7J:CD :HIQC H:GK>9DH A B:CDH 9:H;68:BDH ADH :CIJ:GIDH FJ: :H AD FJ: CDH :CH:TU DC ,J>?DI:
$( &
+ F=>0 =G 0= 06 < 09:96/9 &,6,C,< )48402<,
# !
)D H: K6N6C 8DC A6 ;>CI6 EDGFJ: :HI: ES86GD BJC 9D 6JCFJ: N6 CD I>:C: H6AK68>UC EJ:H ,J>:C AD =>OD :H :A FJ: EJ:9: 9:H=68:GAD N H> A: 96 A6 <6C6 EJ: 9: =68:G DIGD BJ8=D B:?DG +:GD CD 9>K6<J:BDH EDGFJ: A6 H6AK68>UC 6 A6 FJ: CDH G:;:G>BDH :H A6 FJ: <G68>6H 6A I6A:CID 9:A .G A:M6C9:G !A:B>C< 8J6C9D CDH 9:H8J7G: A6 E:C>8>A>C6 -:8DG96BDH 6FJ:AADH 6TDH :C FJ: :HI6 B:9>8>C6 =67S6 FJ: 6EA>86GA6 8696 9:I:GB>C696H =DG6H I6CID 9:A 9S6 8DBD 9: A6 CD8=: N :G6C EDG B>A:H A6H JC>969:H FJ: H: 6EA>8676C N H: =67A676 9: :AA6 8DBD =DN H: =67A6 9: B>AADC:H 9: E:HDH :C D7G6H N 9:BQH IDCI:GS6H AR6H: <6HIDH >CVI>A:H
'6 EG>B:G6 D 9: A6H EG>B:G6H FJ: K>C>:GDC 6 (RM>8D ;J:GDC A6H FJ: H: 6EA>86GDC 6A .G (6M>B>CD bK>A6 6B68=D :A E>CIDG:H8D =:GB6CD 9:A :CIDC 8:H +G:H>9:CI: 9: A6 -:EV7A>86 ":C:G6A (6CJ:A bK>A6 6B68=D .UAD FJ: 9DC (6M>B>CD CD ;J: :A: <>9D E6G6 H6AK6GH: N H: CDH ;J:
< 607482
"% #"! (RM>8D ! 6 9: D8IJ7G: 9:
G %DHR 'J>H .6C?JG?D >G:8IDG (R9>8D #DHE>I6A HE6TDA ?RG8>ID )68>DC6A DA "G6C696 (RM>8D !
G .6C?JG?D (: 9>G>?D 6 JHI:9 G:HE:IJDH6B:CI: E6G6 :MI:C9:GA: B> BQH H>C8:GD 6<G69:8>B>:CID EDG A6H 6I:C8>DC:H G:8>7>96H 9JG6CI: A6 K>H>I6 FJ: G:6A>O6GDC 6 (RM>8D .JH AI:O6H $BE: G>6A:H :A +GSC8>E: N A6 +G>C8:H6 @>H=>CD
H JC <JHID 8DB:CI6GA: FJ: 6 HJ G:<G:HD 6 %6EUC .JH AI:O6H $BE:G>6A:H :A +GSC8>E: N A6 +G>C8:H6 @>H=>CD :M EG:H6GDC HJ 8DBEA68:C8>6 EDG A6 =DHE>I6A>969 FJ: G:8>7>: GDC
HIDN H:<JGD 9: FJ: :HI6 K>H>I6 =6 B6G869D JC6 EQ<> C6 B:BDG67A: 9: A6 A6G<6 =>HIDG>6 9: 6B>HI69 :CIG: CJ:H IGDH E6SH:H
A 6<G69:8:G CJ:K6B:CI: HJ 6EDND 6EGDK:8=D A6 DEDG IJC>969 E6G6 G:>I:G6GA: A6H H:<JG>969:H 9: B> BQH 6AI6 8DC H>9:G68>UC
88E G #>GDNDH=> (JC:I6
# !
.=J>8=>GD (:<6I6
$( &
H :A B>:9D 8DC9J8>G :A 6JID N EJ:9: HJG<>G EDG 86JH6H 6?:C6 6 A6 8DC9J88>UC N 9:7: IG6I6GH: EH>8DAU <>86B:CI: N6 FJ: FJ>:C:H A6 HJ;G:C EJ:9:C AA:<6G 6 8DCK:GI>GH: :C JC E:A><GD E6G6 A6 H:<JG>969 EGDE>6 N 6?:C6 .J9DG:H I6FJ>86G9>6H G:HE> G68>UC 6<>I696 N :CIG:8DGI696 I:B 7ADG B6A:HI6G 9: :HIUB6<D 8:;6 A:6H KRGI><DH N 6<6GGDI6B>:CID BJH 8JA6G HDC ADH HSCIDB6H =67>IJ6A:H 9: ADH :HI69DH 9: 6CH>:969 9: FJ>: C:H HJ;G:C :A E6KDG 9: EDC:GH: ;G:C I: 6 JC KDA6CI:
DBD :C DIGDH IG6HIDGCDH ;U7>8DH A6 G:HEJ:HI6 =J>96 :K>I68>UC EGD9J8: :C A6 E:GHDC6 JC6 H:CH6
8>UC 9: 6A>K>D 9: A6 6CH>:969 FJ: H: B6CI>:C: EDG G:;J:GOD C:<6I> KD HI6 G:HEJ:HI6 EJ:9: AA:<6G 6 H:G I6C ED9:GDH6 FJ: H: K>K: 8DBD A6 VC>86 E6G6 =68:G ;G:CI: 6A EGD 7A:B6 'DH :ME:GIDH >CH>HI:C :C A6 >BEDGI6C8>6 9: CD 8DC;JC9>G B>: 9D N G:HE:ID H CDGB6A H:CI>G 8>:G ID I:BDG 6 8DC9J8>G EJ:H :M>HI: JC G>:H<D A EGD7A:B6 :H 8J6C9D :A
B>:9D :H :M6<:G69D \.:GQ A6 :M6 <:G68>UC 9: :H: I:BDG D >CFJ>:IJ9 EGD9J8>96 EDG JC E:A><GD AD FJ: AA: K6 6 ADH 8DC9J8IDG:H 9: 6JID7JH:H IG6>A:GH 6JIDBDK>A>HI6H :I8 6 8DB:I:G :A 9>6G>D 8=DFJ: KDAI:69JG6 N I6CI6H DIG6H 86A6B> 969:H FJ: HDC CDI>8>6 86H> EG>C8> E6A :C A6H I:A:9>6G>DH EDGFJ: N6 K:BDH FJ: A6H 86GG:I:G6H A6H 6K: C>96H N 8J6CI6 KS6 H>GK: E6G6 8>G 8JA6G :HIQC AA:C6H 9: E:A><GDHDH 6B6MD;U7>8DH
! ' E6<6 N KQBDCDH .: 8J:CI6 FJ: 8DBD A6 K>96 B>A> I6G :C 86BE6T6 G:FJ>:G: 7G:K: 969 N 9>A><:C8>6 H: =>OD JC 8DC 8JGHD E6G6 K:G 8JQA 9: ADH 9DH 86C9>96IDH 6 H68:G9DI:H 86H IG:CH:H 9:8S6 A6 B>H6 :C B:CDH I>:BED .J7>U :A EG>B:GD 6A 6A I6G H6AJ9U 6 ADH HDA969DH 9>D 6 ID9DH A6 7:C9>8>UC N EGDCJC8>U :A >I: B>H6 :HI 9: 8DC8AJH>UC 9: A6 B>H6 /G6H :HID :A H:<JC 9D 8JG6 H: 68:G8U 6A 6AI6G N A: 9>?D 6A BDC6<J>AAD E6<6 N KQ BDCDH
*S9D 6A E6G8=: A E6G8=: H: A: AA6B6 6 A6 E>:A D B:B7G6 C6 9:A I6B7DG #67S6 FJ: :HI6G 6I:CID 6 HJ HDC>9D EJ:H H: JI>A> O676 E6G6 IG6HB>I>G UG9:C:H 9:A B6C9D
$( &
3 /( & * ( +/ ' ," & , ( 1 /.$4,, 2 16( 6* 2 #$%)- ($ .)- ! '$&$ , - 1 '$")*), & - (-$ & *4, $
8 9 ( ., (- /,,$ ) 5)- - +/ ()- $'*/&-6 , /($,()- * , !),' , /( ",/*) , $ - *), $((/' , & - (- 5 (2 - & 0 ')- (/ -., - ), $)( - *), & . ,() - (-) -/ &' ),, 6( ) # $ $ ' , &
# !
9 '* $0 3 ' + '* + )
# !
$( &