Soft Secrets CZ 10-05

;%"3."

1SP EPTQŞMÏ 4PGU 4FDSFUT KF WZEÈWÈO Y SPŘOŞ OBLMBEBUFMTUWÓN %JTDPWFS 1VCMJTIFS #7 /J[P[FNÓ

1SWOÓ LPOPQOâ WFMFUSI W 1SB[F

7 UPNUP ŘÓTMF

&YQFSJNFOUZ T PTWŞUMFOÓN -&% PTWŞUMFOÓ W CS[LÏ EPCŞ [QƉTPCÓ QPEPCOÏ [NŞOZ +TPV UP FMFLUSPOJDLÈ TWŞUMB &MFLUSJDLâ QSPVE [QƉTPCVKF TÏSJJ SFBLDÓ LUFSÏ WFEPV L UPNV äF KTPV WZ[BżPWÈOZ GPUPOZ VSŘJUÏ WMOPWÏ EÏMLZ 7Z[BżPWBOÈ WMOPWÈ EÏMLB KF VSŘFOB TMPäFOÓN EJPEZ -&% PTWŞUMFOÓ OFWZ[BżVKF UPMJL TWŞUMB KBLP )14 MBNQZ BMF WÝFDIOP TWŞUMP LUFSÏ TF WZUWPżÓ KF [ UPIP TQSÈWOÏIP TQFLUSB 1PVäJUÓ -&% TWŞUMB LUFSÏ WZ[BżVKF TWŞUMP W SƉ[OâDI TQFLUSFDI NƉäF WZUWÈżFU EPCżF DÓMFOÏ PTWŞUMFOÓ [ LUFSÏIP SPTUMJ OZ WZVäJKÓ OBQSPTUPV WŞUÝJOV

%ÈMF W UPNUP ŘÓTMF 1BHF (JSM

7ÈäFOÏ 4PGU 4FDSFUT

1SPEVLUZ

8IJUF XJEPX V OÈT

$FSWBOUFT

;FQUFKUF TF &EB

4IPQSFWJFX

.Vä LUFSâ QżFTUBM IVMJU

%JSUZ %JBSJFT GFTUJWBMZ

.V[FVN

; QPIMFEV QSÈWOÓLB

1MBLÈU

5JSÈä

ėÓTMP

5BL KF UP [B OÈNJ ,POFŘOŞ KTNF TF V OÈT EPŘLBMJ LPOPQOÏIP WFMFUSIV LUFSâ KTNF EPQPTVE [OBMJ QPV[F [F [BISBOJŘÓ B UP CVś [ 7ÓEOŞ OFCP QSP UZ [ OÈT LUFżÓ WÓDF DFTUV KÓ UBL OBQżÓLMBE [ #BSDFMPOZ ŘJ #BTJMFKF 4PGU 4FDSFUT OFNPIMP QżJ UPNUP WFMNJ EƉMFäJUÏN PLBNäJLV DIZCŞU 1żJ UÏUP QżÓMFäJUPTUJ UBLÏ PTMBWJMP TWÏ EBMÝÓ SP[ÝÓżFOÓ LUFSÏ UFOUPLSÈU QSPCŞIOF OB EBMÝÓ LPO UJOFOU KFMJLPä W MJTUPQBEV WZKEF W ,BMJGPSOJJ ŘÓTMP 4PGU 4FDSFUT 5BLäF TUSVŘOŞ żFŘFOP EWPKOÈTPC Oâ EƉWPE L PTMBWÈN %MF QżFECŞäOâDI PEIBEƉ PSHBOJ[ÈUPSƉ BLDF TF WFMFUSIV WF EOFDI Bä [ÈżÓ [ÞŘBTUOJMP QżFT EFTFU UJTÓD MJEÓ QżFTOÈ ŘÓTMB CVEPV CPIVäFM [OÈNB Bä QP V[ÈWŞSDF UPIPUP ŘÓTMB "LDF TF LPOBMB W IBMF OB VMJDJ 5IÈNPWB LEF CZMZ WZVäJUZ OFKFOPN WOJUżOÓ QSPTUPSZ BMF J WF WFOLPWOÓDI QSPTUPSÈDI TF OÈWÝUŞWOÓDJ NPIMJ QPCBWJU ŘJ PCŘFSTUWJU +F UżFCB EPEBU äF J [F TUSBOZ WZTUBWPWBUFMƉ CZM [ÈKFN KFMJLPä EMF PGJDJÈMOÓDI JOGPSNBDÓ TF OB WFMFUSIV QżFETUBWJMP GJSFN [ DFMÏ CSBOäF /B TWÏ TJ QżJÝMJ [ÈKFNDJ P QŞTUFCOÏ TZTUÏNZ OPWJOLZ WF TWŞUŞ QŞTUPWÈOÓ WZ[OBWBŘJ LPOPQOÏIP PCMFŘFOÓ BMF J UJ LUFSâN LPOPQÓ QPNÈIÈ MÏŘJU +BL TBNJ WJEÓUF EÓLZ UBLUP SP[NBOJUÏNV WâCŞSV CZMB J WFMNJ QFTUSÈ TLMBECB OÈWÝUŞWOÓLƉ o PE LPKFODƉ Bä QP EƉDIPEDF +BL KJä CZMP żFŘFOP W ÞWPEOÓLV 4PGU 4FDSFUT W MJTUPQBEV QżJOFTF OB BNFSJDLâ USI TWÏ QSWOÓ ŘÓTMP B QSÈWŞ W 1SB[F TF SP[IPEMP UP QPżÈEOŞ PTMBWJU 7 QÈUFL PEQPMFEOF QżÓNP OB TUÈOLV QSPCÓIBMB QSBWÈ BNFSJDLÈ QÈSUZ LEF OFDIZCŞMJ IBNCVSHFSZ QPżÈEOÏ QJUÓ BMF OBQżÓLMBE J UXJTUFSZ #ŞIFN DFMÏIP WFMFUSIV CZMB ESVIÈ ŘÈTU TUÈOLV WŞOPWÈOB WÈN ŘUFOÈżƉN QSPUPäF [EF KTUF TJ NPIMJ TBNP[żFKNŞ [EBSNB W[ÓU OFKOPWŞKÝÓ ŘÓTMP

1PLSBŘVK OB TUSBOV

:,/0$ 2EMHP QiGUæH /

:,/0$ ³9(/.e´ 2EMHP QiGUæH /

:,/0$ 2EMHP QiGUæH /

:,/0$ 2EMHP QiGUæH /

9HOLNRVW µ [ µ [ µ PP [ PP [ PP

9HOLNRVW µ [ µ [ µ PP [ PP [ PP

9HOLNRVW µ [ µ [ µ PP [ PP [ PP

9HOLNRVW µ [ µ [ µ PP [ PP [ PP

;BŘOJ PE QSWOÓ TUSBOZ

+BNBJDBO %SFBN KF SPTUMJOB QPDIÈ[FKÓDÓ [ +BNBKLZ +FKÓ TLMJ[Fŵ KF TPMJEOÓ B WFMNJ QSZTLZżJŘOÈ WPOÓ WFMNJ TMBEDF +FEOB [ KFKÓDI OFKEƉMFäJUŞKÝÓDI WMBTUOPTUÓ KFKÓ EPCB LWŞUV USWÈ QPVIâDI EOÓ QżJ QŞTUPWÈOÓ JOEPPS 1żJ WFOLPWOÓN QŞTUPWÈOÓ KF UBLÏ WFMNJ SZDIMÈ TLMÓ[Ó TF PLPMP LPODF [ÈżÓ +FKÓ ÞŘJOFL KF WFMNJ TJMOâ UZQV 4BUJWB FVGPSJDLâ B WFMNJ BLUJWOÓ 1PLVE KTUF GBOEPWÏ IBÝJÝF KF UP PQSBWEV FYDFMFOUOÓ SPTUMJOLB OB WâSPCV KFMJLPä WZUWÈżÓ WFMNJ NOPIP WZTPDF LWBMJUOÓDI DIMPVQLƉ (FOFUJLB 0CTBI 5)$ %PCB LWFUFOÓ 4LMJ[Fŵ PVUEPPS 7âOPT

'PUPHSBGJF &WB 4FFET

4BUJWB *OEJDB

UâEOƉ LPOFD [ÈżÓ o H N QżJ JOEPPS QŞTUPWÈOÓ o H QżJ PVUEPPS QŞTUPWÈOÓ

+BNBJDBO %SFBN

4PGU 4FDSFUT BMF J )JHIMJGF HVJEF POMJOF WFS[F KF L EJTQP[JDJ OB XXX IJHIMJGFHVJEF DPN 5BUP QVCMJLBDF OFOÓ V OÈT [BUÓN NPD [OÈNÈ +FEOÈ TF P TF[OBN WÝFDI HSPXTIPQƉ DPGGFFTIPQƉ PCDIPEƉ T EBMÝÓNJ QSPEVLUZ [F TWŞUB LPOPQÓ B UP [ DFMÏ &WSPQZ LEF 4PGU 4FDSFUT WZDIÈ[Ó /FDIZCÓ BOJ QPESPCOÈ NBQLB "NTUFSPEBNV T WZ[OBŘFOâNJ DPGGFFTIPQZ +BLP TQFDJÈMOÓ OBCÓELV QSÈWŞ QSP UFOUP WFMFUSI 4PGU 4FDSFUT QżFETUBWJMP NBMPV QP[PSOPTU B UP TPVCPS WŞDÓ LUFSÏ TF VSŘJUŞ QżJ LPVżFOÓ IPEÓ QBQÓSLZ GJMUSZ B ESUJŘLB W KFEOPN CBMFOÓ B TBNP[żFKNŞ T MPHFN 4PGU 4FDSFUT

5J LUFżÓ KTUF TF UÏUP BLDF [ÞŘBTUOJMJ UBL KTUF VSŘJUŞ PDFOJMJ EPQSPWPEOâ QSPHSBN LEF NJNP KJOÏ WZTUPVQJM J +JżÓ 9 %PMFäBM [ 3FGMFYV B QżFETUBWJM J TWPKJ LOJIV 6äJUFŘOÏ SBEZ %ÈMF KTUF NPIMJ OBTMPVDIBU TFNJOÈżƉN GJSFN

WZSÈCŞKÓDÓ IOPKJWB BMF J OBQżÓLMBE LPTNFUJ LV UBLäF LBäEâ TJ PQSBWEV QżJTFM OB TWÏ +FMJLPä UFOUP WFMFUSI OFCZM MFUPT W 1SB[F QPTMFEOÓ UŞÝÓNF TF OB TFULÈOÓ T WÈNJ OBÝJNJ ŘUFOÈżJ OB WFMFUSIV W MJTUPQBEV LEF QSP WÈT DIZTUÈNF EBMÝÓ QżFLWBQFOÓ

0E ŘUFOÈżƉ

ėUFOÈżJ QP[PS .ÈUF [ÈKFN P CBMÓŘFL ;%"3." B UP GFNJOJ[P WBOâDI TFNÓOFL %*/"'&. 1PÝMFUF OÈN WBÝF GPUP [ HSPXSPPNV OFCP WBÝJ OFKMFQÝÓ SPTUMJO LZ TBNP[żFKNŞ T EPCżF WJEJUFMOâN WâUJTLFN 4PGU 4FDSFUT B NZ WÈN QPÝMFNF UżJ TFNÓOLB 7 QżÓQBEŞ äF TF WÈN QPEBżÓ [BDIZUJU WÝF TQPMFŘOŞ T QżÓUFMLZOÓ ŘJ NBOäFMLPV W TFYZ CJLJOLÈDI ŘJ TQPEOÓN QSÈEMF EPTUBOFUF TFNÓOFL 'PUP NŞTÓDF EPTUBOF TFNÓOFL UÏ OFKWZÝÝÓ LWBMJUZ 4 EÓLZ 4PGU 4FDSFUT B %*/"'&.

4WÏ ÞMPWLZ QPÝMFUF OB & NBJM D[!TPGUTFDSFUT OM OFCP EP OBÝFIP 1 0 #PYV 1P[OÈNLB 4 WFÝLFSâNJ QżÓTQŞWLZ TF [BDIÈ[Ó BCTPMVUOŞ EJTLSÏUOŞ /FQVCMJLVKFNF GPUB NJNP UÏNB B SPTUMJOZ WF WFHFUBUJWOÓN TUÈEJV 5P DP OÈT [BKÓNÈ KTPV TJMOÏ QBMJDF B QŞLOÏ äFOZ

& NBJM D[!TPGUTFDSFUT OM

4VQFS TLVOL 8 #JPDBOOB WFHB GMPSFT CJPCPPTU IMÓOB HSPX NJY B QƉM UâEOF UâEOƉ NFUS ŘUWFSFŘOÓ DDB H 1ŞLOÈ QSÈDF EÓLZ NPD [B TQFDJGJLB B SBEZ QSP PTUBUOÓ VSŘJUŞ TF UP IPEÓ ;ESBWÓN 4PGU 4FDSFUT B WÝFDIOZ ŘUFOÈżF +BLP WŞSOâ ŘUFOÈż TFN TF SP[IPEM äF CZ OFCZMP PE WŞDJ UBLZ QżJTQŞU B [BTMBU GPULV NPKJ TLMJ[OŞ 4FN GBOPVÝFL A NJLSPQŞTUPWÈOÓ UFEZ QŞTUPWBOÓ QPE ÞTQPSOPV WâCPKL PV 8 WŞżÓN äF UP QPE OJ UBLZ KEF B OB GPUDF KF NZT MÓN WJEŞU äF UP KF QSBWEB 3PTUMJOZ TPV PESƉEZ 4LVOL PTWŞUMFOÓ 1MVH BOE (SPX X QŞTUPWÈOP W IMÓOŞ IOPKF OP EPCSPUBNB PE 1MBHSPOV %PVGÈN äF TF NƉK ÞTQPSOŞ WZQŞTUPWBOâ QSPEVLU CVEF MÓCJU QżFKJ EPCSÏ TLMJ[OŞ + 4 %ŞLVKFNF [B QŞLOâ QżÓTQŞWFL PQSBWEV KF LSÈTB TF LPVLBU OB WÝFDIOZ WâQŞTULZ HSBUVMVKFNF B TBNP[żFKNŞ PENŞOB 7ÈT OFNJOF

/B[EÈSFL QPTJMÈN 7ÈN TWÏ NJMÈŘLZ $ISPOJD IZESP QPE UJTFULVMJ TF H TVDIFKDI 1BLMJ äF TF 7ÈN NÏ GPUP [BMÓCJMP [BÝMFUF 7ÈÝ QżÓTQŞWFL QSP NPKJ EBMÝÓ UWPSCV %ÓLZ NPD 1żÓTQŞWFL TBNP[żFKNŞ CVEF 1PWFEMJ TF WÈN QŞLOÏ QBMJDF KFO UBL EÈM

"IPK 44 QPTÓMÈN QÈS GPUFL [F TLMJ[OŞ /FCVMZ ;CZT " KBL KTUF UPIP EPTÈIMJ CZ BTJ OFCZMP UP OFWBEÓ BMFTQPŵ TF QPLPDIÈNF

0TWŞUMFOÓ

)OPKJWB

&MFLUSP

%BMÝÓ

1IJMJQT

"UBNJ

LBCFMZ Y LXE

$BOOBDVUUFS

0TSBN

# " $

LBCFMZ Y LXE

5VNCMF 5SJNNFS

4ZMWBOJB

#JP /PWB

LBCFMZ Y LXE

6MUSB TIJQ 7ÈIZ

(& -JHIUJOH

#JPCJ[[

LBCFMZ Y LXE

4JMWFSCPY

#JPHSFFO

LBCFMZ Y LXE

)BOOB

0TWŞUMFOÓ

#JP ( 1PXFS

(SBTTMJO

1ŞTUFCOÓ WBOB

1IJMJQT

$BOOB

-F(SBOE

(BSEFOB

& 5 * 6"-

%VUDI QSP

1SPQBHBUPS

$FDMB 6"-

'FSSP

3PDLXPPM

4NPLJOH

& - 5

&YDFMMFOU

$VMUJMFOF

+BHFS

.BSJB

&DPMJ[FS

(SPEBO

%FD "JSDPOOFDU

# " -

)FTJ

.BQJUP 2VBOUJHSP

4FNÓOLB

-VNBUFDL

)ZQSP

)PVTF (BSEFO

,POUSPMB LMJNBUV

3Fn FLUPSZ

)ZHSP[ZN

5PSJO 53*$ "3*$

"EKVTU B 8JOH

1MBHSPO

4NT DPN

4UÓOJEMP

/P .FSDZ

NND FBTZ

7FMLÏ TUÓOJEMP

( ) &

5NB SFHVMBUÈSZ

%JBNPOE 3Fn FDUPS

4VQFSUISJWF

$PPMUVCFT

"EWBODF /VUSJFOUT

/ÈEPCZ

$MPOFY

MJUS UZżISBOâ

1VNQZ

3IJ[PQIPO

M M M M M UZżISBOâ

31 1VNQT

M M M M M M LVMBUâ

%BC 1VNQT

7ŞUSOÏ NMâOZ LBNOB

.BQJUP USVIMÓL M M

(VEF QVNQZ

)VSSJDBOF

#BUP OÈEPCB M UZżISBOâ

0MZNQJB QVNQZ

)POFZXFMM

#BUP OÈEPCB M UZżISBOâ

4JDDF

4.$ )&

#BUP OÈEPCB - UZżISBOâ

#JPOBJSF

'JMUSZ

#FTUSPO

4VCTUSÈUZ

$BO $BO .BY

.BSUJOB [FNJOB

$BSCPO PSSJHJOBM

;BWMBäPWÈOÓ

1MBHSPO

$BSCPO "DUJWF 'VUVSF

3BZFU

$BOOB

4QFDJBM

/FQUVOFT

#JPCJ[[ "MM .JY

8JMDPm MUFS

4BUVSOVT

4QFDJBM NJY HPME

-JCSB USVIMÓL

#O $PDP #SJDLT

Ş E B M L T

/B

WÓDF OFä Ɖ L C P S â W

J [ F N

ė ÓTMP

Ş Q P S W &

W

Z E P I D C WF M L P P Ý F Q Ş T U J U F M T L Ï B W

P S Q

F Ý 7

Z C F ż U P Q

1PNƉäFNF WÈN [żÓEJU WMBTUOÓ JOUFSOFUPWâ PCDIPE T WMBTUOÓN GBLUVSBŘOÓN NPEVMFN 6ä OFNVTÓUF NÓU TUBSPTUJ QSPUPäF WÈÝ JOUFSOFUPWâ PCDIPE CVEF WäEZ BLUVÈMOÓ .ÈUF [ÈKFN P WMBTUOÓ JOUFSOFUPWâ PCDIPE T GBLUVSBŘOÓN CBMÓŘLFN LUFSâ KF WZUWPżFOâ QżÓNP OB NÓSV ,POUBLUVKUF OÈT

;ESBWÓN SFEBLDJ B ŘUFOÈżF ŘBTPQJTV 4PGU 4FDSFUT ;BTÓMÈN 7ÈN ŘVNLBSUV QżÓUFMLZOŞ T NPKÓ QSWOÓ ÞSPEPV +FEOÈ TF P LMPO 8IJUF 3VTTJBO QŞTUPWBOâ W "MM .JYV B SP[KFUâ DDB EWB NŞTÓDF WFOLV QP[EŞKJ KTFN KFK [BÝUÓQM B ÝPVQM QPE MBNQV 3PTUMJOB CZMB QŞTUPWBOÈ TQPMV TF TBEPV "EWBODFE )ZESPQPNJDT PG )PMMBOE QPE 8 TPEÓLFN WF TLżÓOJ VSPC TJ TÈN BMF T WâTMFELFN OB QPQSWÏ KBN OBQSP TUP TQPLPKFO %PVGÈN äF EBMÝÓ TLMJ[OŞ CVEPV CPIBUÝÓ KBL OB ÞSPEV UBL OB OBTCÓSBOÏ [LVÝFOPTUJ 4OBE TF 7ÈN W SFEBLDJ CVEPV OBUPMJL MÓCJU äF KF VWFżFKOÓUF W QżÓÝUÓN ŘÓTMF OFKMFQÝÓDI GSFF OPWJO OB Þ[FNÓ ė3 ;ESBWÓ [BŘÓOBKÓDÓ BMF WZUSWBMâ ŘUFOÈż W +JIV 5BL Bƃ SPTUPV ,VCBK[ ;ESBWÓN OB +JI QPLVE KF UP PQSBWEV QPŘÈUFL QŞTUPWÈOÓ UBL KF UP QŞLOâ ÞMPWFL B KFÝUŞ MFQÝÓ QżÓUFMLZOŞ LUFSÈ TF OFDIBMB WZGPUPHSBGPWBU QPE UÓN #VEFNF TF UŞÝJU OB GPUB [F TFNÓ OFL LUFSÈ 7ÈN QPÝMFNF 0QŞU EÓL [B QPQJT KBL KTUF TF EPQSBDPWBMJ L WâTMFELV QSPUPäF UP IPEOŞ OBQPWÓ KBL TF V OÈT QŞTUVKF B UżFCB QPNƉäF J KJOâN

%PCSâ EFO [BTÓMÈN GPUFŘLZ NâDI LSBTBWJD 5B [FMFOÈ KF )BTICFSSZ LUFSÈ SPTUMB QPE 8 W TVCTUSÈUV CJPCJ[[ MJHIUNJY 4 QP[ESBWFN ,BUFT

%PCSâ EFO [ESBWÓN WÈT B QPTÓMÈN WÈN GPUPHSBGJF EP WBÝFIP ŘBTPQJTV KTFN SÈE äF FYJTUVKFUF B GBOEÓN WÈN EÓLZ [B UP DP EŞMÈUF KJOBL CPIVäFM LP[Z L GPDFOÓ [BUÓN OFKTPV UBL BMFTQPŵ CF[ KFEOÈ TF P PESƉEV /FCVMB [ LMPOV QŞTUPWÈOP W LPLP TPWâDI SPIPäÓDI IOPKJWP )FTJ QPE TPEÓLFN 008 OB PCSÈ[LV KF KFEOB SPTUMJOB LUFSÈ TF QPNŞSOŞ WZEBżJMB B NŞ UBLÏ QżÓKFNOŞ QżFLWBQJMB TWâN W[SƉTUFN DPCZ LVMBUâ LFżÓL EPVGÈN äF TF WÈN GPUPHSBGJF CVEPV MÓCJU B [B [WFżFKOŞOÓ CVEV SÈE [EB CVEPV W EPTUBUFŘOÏ LWBMJUŞ

%ŞLVKFNF [B QżÓTQŞWFL QŞLOÏ QBMJDF %PVGÈNF äF DIVUOBMJ EPCżF

4VQFS QPQJTFL EÓLZ NPD [B UBL EFUBJMOÓ QżÓTQŞWFL

130%6,5:

.PVOUBJOIJHI OB DFTUÈDI 7 UPNUP WZEÈOÓ 4PGU 4FDSFUT KF VNÓTUŞOB Wâ[WB WF LUFSÏ .PVOUBJOIJHI IMFEÈ EJTUSJCVUPSZ "MF PELVE WMBTUOŞ [OÈNF .PVOUBJOIJHI $POFT 1żJQSBWFOÏ JIOFE L QPVäJUÓ QżJQSBWFOÏ QBQÓSLZ UP DP KF KJä EOFT TUBOEBSEFN WÝVEF W OJ[P[FNTLâDI DPGGFFTIPQFDI +Jä MFU UBUP ÞäBTOÈ WŞD PWMJWŵVKF LVżÈLZ QP DFMÏN TWŞUŞ " OZOÓ $POFT QżJÝMP KFÝUŞ T MFQÝÓ OBCÓELPV QSP TWÏ [ÈLB[OÓLZ B UP WFMJDF ÝJLPWOâN CBMFOÓN #MJTUFS 1BDLT +TUF QSPEFKDFN ,JOH TJ[F QBQÓSLƉ 5BL UP QPUÏ KF QSP 7ÈT $POFT UB OFKMFQÝÓ WPMCB #MVOU 8SBQT 1PQVMÈSOÓ ŘFSTUWŞ [BCBMFOÏ UBCÈLPWÏ MJTUZ T ÞäBTOPV DIVUÓ 7IPEOÏ QSP GBKOÝNFLSZ B QSP WZDIVUOÈOÓ UPIP OFKMFQÝÓIP [ ŘJTUÏIP LPOPQÓ .PVOUBJOIJHI UFOUP WâSPCFL W[BM QPE TWÈ LżÓEMB B KF KFEFO [ OFKWŞUÝÓDI EJTUSJCVUPSƉ W SÈNDJ &WSPQZ

(SFFO 4FOTBUJPO NM (SFFO 4FOTBUJPO OZOÓ UBLÏ L EPTUÈOÓ W NM CBMFOÓ (SFFO 4FOTBUJPO KF LWŞUPWâ TUJNVMÈUPS QSP QPTMFEOÓDI UâEOƉ EPCZ LWFUFOÓ 1żJ QPVäJUÓ (SFFO 4FOTBUJPO KTPV WÝFDIOZ PTUBUOÓ TVQMFNFOUZ KBLP OBQż 1 , B FO[ZNZ ŘJ KJOÏ QSPTUżFELZ QPEQPSVKÓDÓ LWŞU [CZUFŘOÏ +F UBLÏ NPäOP EPDÓMJU ÞTQP SZ Bä [ÈLMBEOÓDI LWŞUPWâDI IOPKJW W [ÈWJTMPTUJ OB QPVäJUÏN TVCTUSÈUV %ÓLZ TPGJTUJLPWBOÏNV TMPäFOÓ QSPEVLUV SPTUMJOB EPTUÈWÈ WÝFDIOZ äJWJOZ LUFSÏ QPUżFCVKF QSP CPIBUâ LWŞU B UWPSCV QMPEV /JäÝÓ TQPUżFCB LWŞUPWÏIP IOPKJWB 1żJEFKUF (SFFO 4FOTBUJPO W QPNŞSV EP [ÈMJWLZ [NŞżUF IPEOPUV &$ B QPUÏ QżJEÈWFKUF [ÈLMBEOÓ LWŞUPWÏ IOPKJWP Bä EP EPTBäFOÓ QPäBEPWBOÏ IPEOPUZ &$ 7 [ÈWJTMPTUJ OB [WPMFOÏN TVCTUSÈUV [KJTUÓUF äF QPUżFCVKFUF QPETUBUOŞ NÏOŞ [ÈLMBEOÓDI LWŞUPWâDI IOPKJW (SFFO 4FOTBUJPO KF NPäOP QPVäÓU V WÝFDI TVCTUSÈUƉ QƉEB LPLPT SPDLXPPM BUE B WÝFDI [BWMBäPWBDÓDI TZTUÏNƉ &CC 'MPPE /'5 LBQLPWBŘF BUE

.BDI /FKSZDIMFKÝÓ TUSPK OB TWŞUŞ OB QMOŞOÓ KPJOUƉ 5FOUP LPV[FMOâ FMFLUSJDLâ QżÓTUSPK WZQMOÓ B OBQŞDIVKF TUPWLZ KPJOUƉ [B IPEJOV 7ZWJOVUV EWŞNB OJ[P[FNTLâNJ CSBUSZ NBKJUFMJ .PVOUBJOIJHI .BSUJO "SUIVS WBO EFO #FSH

.OPIP QŞTUJUFMƉ KJä QPDIPQJMP äF QPVäÓWÈOÓN (SFFO 4FOTBUJPO EPTÈIOPV WâSB[OŞ WZÝÝÓDI WâOPTƉ 7ÓDF JOGPSNBDÓ PCESäÓUF OB XXX QMBHSPO OM

7FMFUSIZ B DFTUPWÈOÓ 4ZEOFZ ŘJ 7BODPVWFS -ÏLBżTLÏ WZVäJUÓ ŘJ SFLSFBŘOÓ 5JUP EWB CSBUżJ EPEÈWBKÓ DFMÏNV TWŞUV +FKJDI WâSPCLZ KTPV L EPTUÈOÓ WF WÝFDI ŘÈTUFDI TWŞUB 7ZWÈäFKÓ EP /JHÏSJF ŘJ EP "NFSJLZ OJD OFOÓ QSPCMÏN .PVOUBJOIJHI QPULÈUF OB WÝFDI Wâ[OBNOâDI WFMFUS[ÓDI

.VMUJ UPUBM 1żÓQSBWFL OB [LWBMJUOŞOÓ [FNJOZ

$IDFUF TF TUÈU EJTUSJCVUPSFN 7ÓDF JOGPSNBDÓ B LPOUBLU OBMF[OFUF OB XXX NPVOUBJOIJHI OM

5FOUP QżÓQSBWFL OB [LWBMJUOŞOÓ [FNJOZ CZM WZSPCFO T DÓMFN JOJDJPWBU BCZ TF PSHBOJDLâ NBUFSJÈM [ OFäJWÏ SPTUMJOOÏ INPUZ QżFNŞOJM OB CMBIPEÈSOÏ äJWJOZ ,SPNŞ UPIP .VMUJ 5PUBM TUJNV MVKF SƉTU LPżFOƉ UÓN äF [LWBMJUŵVKF ÞŘJOLZ OB TMPäFOÓ [FNJOZ 3PWOŞä TUJNVMVKF äJWJOZ BCZ QPEQPSPWBMZ SƉTU CBLUFSJÓ W TVC TUSÈUV 0QUJNBMJ[VKF WPEV BCZ [BESäPWBMB WMBTUOPTUJ [FNJOZ CF[ PIMFEV OB UZQ QƉEZ 4UJNVMVKF LBUJPOBLUJWOÓ WâNŞOV NJOFSÈMƉ B NJLSPäJWJO B QPTJMVKF PEPMOPTU WƉŘJ IPVCÈN B TUSFTPWâN TJUVBDÓN .VMUJ 5PUBM KF QżÓSPEOÓ ŘJTUâ B PSHBOJDLâ WâSPCFL 7IPEOâ QSP LBäEâ [BWMBäPWBDÓ TZTUÏN QŞTUPWÈOÓ W [FNJOŞ IZESPQPOJJ B LPLPTPWâDI WMÈLOFDI 1PVäJUÓ EÈWLPWÈOÓ QżJ QSWOÓ [ÈMJWDF NM OB MJUSƉ WPEZ QBL KFEOPV LBäEÏ EWB UâEOZ NM OB MJUSƉ WPEZ

, EJTQP[JDJ W NOPäTUWÓ NM M M M M 1Ļ&% 106Ç*5¶. %0#Ļ& 1305Ļ&1&+5& 7MBTUOPTUJ WâSPCLV %VUDIQSP äJWJOZ KTPV TUBCJMOÓ ŘJTUÏ PCTBIVKF PSHBOJDLÏ QSWLZ VESäVKF SPTUMJOZ WJUÈMOÓ [FMFOÏ Bä EP LPODF KFKJDI DZLMV B LPOFŘOŞ NÈ DIBSBLUFSJTUJDLPV DIVƃ BSPNB 1PUżFCVKFUF WÓDF JOGP 0CSBƃUF TF QSPTÓN OB 1FUFSB QFUFSEVUDIQSP!IPUNBJM DPN

5FM

'BY

JOGP!EVUDIQSP OM XXX EVUDIQSP DPN

*4-*

()3% )$.6

+4% )23)#

-$..1 )7

43$..1 )7

1)3)#!+

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

#%

.6%1 +.6%1

14)3 /)1)3

.13(%1- )'(3

()-)-' )+5%1 !9% ,-%2)! !9%

.8!+ (%%2%

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

/%#)!+ 42(

/%#)!+ 4%%- .8!+ ."8

!28 4$

4)#* -%

.8!+ 43.,!3)#

.8!+ 6!1&

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

E

666 2%,%- #9

666 04!+)382%%$2 #9

.8!+ 4%%- %%$2

)-&. 1.8!+04%%-2%%$2 #.,

666 1.8!+04%%-2%%$2 #.,

&% 304&/5)"- &9,-6;*7/ĝ

&YQFSJNFOUZ TF TWŞUMFN ŘÈTU .FUPEZ WZVäÓWBKÓDÓ PTWŞUMFOÓ TF WZWÓKF KÓ Vä NOPIP MFU QP DFMPV UV EPCV [B TFCPV [BOFDIBMZ OPWÈ WZMFQÝFOÓ BMF J SƉ[OÏ ÝLPEMJWJOZ 1SWOÓ PTWŞUMFOÓ T LUFSâN KTFN QŞTUPWBM B LUFSÏ CZMP WMBTUOŞ KFEJOÏ OB USIV CZMZ [ÈżJWLZ 1PVäJM KTFN PTN NFUSPWâDI [ÈżJWFL OB Y NFUSV QżFLMJäLPWÏ EFTLZ LUFSÈ CZMB [BWŞÝFOB [F TUSPQV 5SVCJDF TUVEFOÈ CÓMÈ QSP WFHFUBUJWOÓ SƉTU B UFQMÈ CÓMÈ QSP LWFUFOÓ QSPEVLPWBMZ [F TFNÓOFL $PMPNCJBO LUFSÏ KTFN [BTBEJM TQÓÝF EPDFMB LSÈULÏ QBMJDF ėÈTU QSP CMÏNV OB LUFSâ KTFN PLBNäJUŞ QżJÝFM CZMP UP äF SPTUMJOZ NŞMZ NÈMP TWŞUMB QSPUPäF QżJKÓNBMZ QPV[F 8 WâLP OV OB NFUS ŘUWFSFŘOâ 1PUÏ KTFN TJ QżFŘFUM P WZTPDF WâLPOOâDI [ÈżJWLÈDI /FCZMZ UBL ÞŘJOOÏ KBLP OÓ[LP WâLPOP WÏ [ÈżJWLZ BMF WZ[BżPWBMZ LSÈU WÓDF

TWŞUMB OFä TUBOEBSEOÓ [ÈżJWLZ ,WBMJUB QBMJD TF PLBNäJUŞ [WFEMB QSPUPäF KTFN WZCÓSBM UZ OFKLWBMJUOŞKÝÓ SPTUMJOZ LUFSÏ OZOÓ QżJKÓNBMZ NOPIFN WÓDF TWŞUMB %P OŞLPMJLB MFU WZNŞOJMB WŞUÝJOB QŞTUJUFMƉ UZUP USVCJDF [B NFUBMIBMPHF OJEPWÏ B WZTPLPUMBLÏ TPEÓLPWÏ WâCP KLZ 5Z WZUWÈżFKÓ WFMNJ KBTOÏ TWŞUMP WZ[BżVKÓDÓ [ DFOUSÈMOÓIP [ESPKF ;DFMB [NŞOJMZ QŞTUPWÈOÓ QSPUPäF SPTUMJOÈN QPTLZUMZ QSÈWŞ UP DP QPUżFCVKÓ QSP UWPSCV WFMLâDI QBMJD o JOUFO[JWOÓ TWŞUMP )14 WâCPKLZ WZUWÈżFKÓ EPTUBUFL TWŞUMB W PSBOäPWÏN B ŘFSWFOÏN TQFLUSV LUFSÏ QPEQPSVKF UWPSCV LWŞUƉ "WÝBL NOPIP QŞTUJUFMƉ QPLSBŘPWBMP T QPVäÓWÈOÓN [ÈżJWFL 1ŞTUJUFMÏ W MPäOJDÓDI B NBMâDI TLżÓOÓDI TJ TWÓUJ

1PE -&% PTWŞUMFOÓN NBKÓ SPTUMJOZ UBKFNOPV LBÝUBOPWPV CBSWV ,EZä KF WJEÓUF QPE OPS NÈMOÓN PTWŞUMFOÓN NBKÓ TZUŞ [FMFOPV CBSWV

MJ TUÈMF UŞNJUP TWŞUMZ -JEÏ LUFżÓ TJ OFNPIMJ EPWPMJU WFMLÏ WâEBKF [B )14 NPIMJ TUÈMF WZVäÓU MFWOâDI [ÈżJWFL 1BL QżJÝMB OPWJOLB o $'- o LPNQBLU OÓ [ÈżJWLZ LUFSÏ WEFDIMZ OPWâ äJWPU [ÈżJWLPWÏNV QŞTUPWÈOÓ 5ZUP NBMÏ MBNQZ WZ[BżVKÓ WFMNJ JOUFO[JWOÓ TWŞUMP +TPV EPTUVQOÏ WF WZTPLâDI WâLPOFDI KBLP KF B 8 UBLäF SPTUMJOZ NPIPV EPTUBU TQPVTUV TWŞUMB OB NBMÏ QMPÝF 5BLUP QŞTUPWBOÏ SPTUMJOZ WZUWÈżFKÓ WŞUÝÓ B LWBMJUOŞKÝÓ QBMJDF OFä W QPSPWOÈOÓ T QƉWPEOÓNJ [ÈżJWLBNJ -&% PTWŞUMFOÓ W CS[LÏ EPCŞ [QƉTPCÓ QPEPCOÏ [NŞOZ +TPV UP FMFLUSPOJDLÈ TWŞUMB &MFLUSJDLâ QSPVE [QƉTPCVKF TÏSJJ SFBLDÓ LUFSÏ WFEPV L UPNV äF KTPV WZ[BżPWÈOZ GPUPOZ VSŘJUÏ WMOP

WÏ EÏMLZ 7Z[BżPWBOÈ WMOPWÈ EÏMLB KF VSŘFOB TMPäFOÓN EJPEZ -&% PTWŞUMFOÓ OFWZ[BżVKF UPMJL TWŞUMB KBLP )14 MBNQZ BMF WÝFDIOP TWŞUMP LUFSÏ TF WZUWPżÓ KF [ UPIP TQSÈWOÏIP TQFLUSB 1PVäJUÓ -&% TWŞUMB LUFSÏ WZ[BżVKF TWŞUMP W SƉ[OâDI TQFLUSFDI NƉäF WZUWÈżFU EPCżF DÓMF OÏ PTWŞUMFOÓ [ LUFSÏIP SPTUMJOZ WZVäJKÓ OBQSPTUPV WŞUÝJOV &YJTUVKF NOPIP -&% KFEOPUFL LUFSÏ KTPV EPTUVQOÏ OB USIV B KJä KTFN WJEŞM DFMÏ [BISBEZ LUFSÏ WZVäÓWBKÓ -&% PTWŞUMFOÓ 4PVIMBTÓN äF -&% NPIPV WZUWÈżFU FYDFMFOUOÓ WâTMFELZ QPLVE KTPV SPTUMJOZ WF WFHFUBUJWOÓ GÈ[J BMF QżJ LWFUFOÓ OFKTPV UZUP KFEOPULZ OBUPMJL WâLPOOÏ +F UP QSBWEŞQPEPCOŞ [QƉTPCFOP UÓN äF WâT MFEOÏ TQFLUSVN TWŞUMB OFOÓ EPQMOŞOP J KJOâN TWŞUFMOâN TQFLUSFN +JOâNJ TMPWZ

%WŞ -&% TFTUBWZ LBäEÈ 8 QPEQPSVKÓDÓ WFHFUBUJWOÓ SƉTU [BISÈELZ P SP[NŞSFDI Y NFUSV

1SVI NPESâDI -&% EJPE

1PIMFE OB TFTUBWV ÇÈSPWLZ WZQBEBKÓ OB GPUPHSBGJJ CÓMÏ BMF WF TLVUFŘOPTUJ WZ[BżVKÓ ŘFSWFOÏ B NPESÏ TWŞUMP

;FMFOÏ -&% MBNQZ TF NPIPV QPVäÓU CŞIFN QFSJPEZ UNZ UP OFOÓ TWŞUMP LUFSÏ QPTLZUVKÓ KF UP TWŞUMP LUFSÏ OFQPTLZUVKÓ B LUFSÏ MJNJUVKF WâWPK QBMJD /ŞLUFSÏ GJSNZ FYQFSJNFOUVKÓ T QPVäÓWÈOÓN CÓMâDI -&% BCZ WZLSZ MZ OFTQFDJGJLPWBOÏ TQFLUSVN B [ÓTLB MZ LPNCJOBDJ DÓMPWâDI GSFLWFODÓ KBLP KF ŘFSWFOÏ B NPESÏ TQFLUSVN 5BLPWâ UFDIOJDLâ QSPCMÏN PIMFEOŞ -&% PTWŞUMFOÓ CVEF WZżFÝFO EP OŞLPMJLB MFU B QBL TF -&% TUBOF KFEOJŘLPV OB USIV 4OBEOP TF T OJNJ QSBDVKF KTPV CF[QFŘOÏ OFWZUWÈżFKÓ NPD UFQMB B WZESäÓ NOPIFN EÏMF OFä PTUBUOÓ MBNQZ * QżFTUP FYJTUVKF TQPVTUV [QƉTPCƉ KBL WZMFQÝJU WBÝJ [BISÈELV QPNPDÓ -&% 7ŞUÝJOB GPUPTZOUÏ[Z QSPCÓIÈ W ŘFSWFOÏN B NPESÏN TQFLUSV "WÝBL LEZä TF QPEÓWÈNF OB UZQJDLÏ )14 TQFLUSVN NƉäFNF WJEŞU äF )14 WâCPKLZ WZ[BżVKÓ OFKWÓDF TWŞUMB WF äMVUÏN TQFLUSV 3PTUMJOZ OFQPUżFCVKÓ NPD äMVUÏ UBLäF WŞUÝJOZ WZSPCFOÏ FOFSHJF TF WƉCFD OFWZVäJKF +FEOPV [ WâIPE QPVäJUÓ )14 WâCPKLZ KF UB äF EPEÈWÈ SPTUMJOÈN DFMÏ TWŞUFMOÏ TQFLUSVN LUFSÏ QPUżFCVKÓ UBLäF TF SPTUMJOZ NBKÓ EPCżF

4FTUBWB OB IZESP TIPX WZ[BżPWBMB OŞLPMJL TQFLUFS ŘFSWFOÏ J NPESÏ CBSWZ

)14 WâCPKLZ UFEZ NƉäFUF QPEQPżJU QPVäJUÓN -&% PTWŞUMFOÓ +BL Vä KTFN EżÓWF [NÓOJM QPV[F NBMÏ NOPäTUWÓ TWŞUMB [ )14

ZZZ FDQQD F] FRP

BBBB $

0 6 7 ( 5 ' $ 0

BBBB

%OXH 0\VWLF 6KRUW 5LGHU %XEEOHOLFLRXV -RFN +RUURU 1RUWKHUQ /LJKWV

ZZZ QLUYDQD QO

WâCPKLZ KF W ŘFSWFOÏN ŘJ NPESÏN TQFL USV LUFSÏ TF QPVäÓWÈ QSP GPUPTZOUÏ[V 1żJEÈOÓN ŘFSWFOÏIP B NPESÏIP TWŞUMB TF [MFQÝÓ GPUPTZOUÏ[B B UÓN J TLMJ[Fŵ 5P KF UFPSJF LUFSPV KTFN WZWJOVM LEZä KTFN QSBDPWBM QżJ Wâ[LVNV W KFEOÏ TQPMFŘOPTUJ [BCâWBKÓDÓ TF WâWPKFN -&% PTWŞUMFOÓ 5VUP UFPSJJ TF OZOÓ DIZTUÈN PUF TUPWBU [B QPVäJUÓ -&% TWŞUFM TF UżFNJ PEMJÝOâNJ TQFLUSZ LUFSÏ QPLSZKÓ DFMÏ TQFLUSVN QSP GPUPTZOUÏ[V ,BäEÈ 8 MBNQB CVEF EPQMOŞOB 8 LPNCJOPWBOÏIP ŘFSWFOÏIP TQFLUSB 0EIBEVKJ äF UP QżJCMJäOŞ [EWPKOÈ TPCÓ NOPäTUWÓ ŘFSWFOÏIP TWŞUMB LUFSÏ SPTUMJOZ QżJKNPV .ZTMÓN äF SPTUMJOZ T EPEBUFŘOPV ŘFSWFOPV CVEPV WâSB[OŞ WŞUÝÓ OFä KFKJDI TFTUżJŘLZ QPE TBNPTUBU OPV )14 WâCPKLPV

,WFUFOÓ QżJ LSBUÝÓ UFNOPUŞ 7 ŘMÈOLV ÀQJŘLPWÏ FYQFSJNFOUZ ėÈTU * KTFN żFÝJM LSJUJDLPV EPCV UNZ LUFSÈ [QƉTPCÓ LWFUFOÓ ,EZä SPTUMJOB PQBLPWBOŞ QżJKÓNÈ UFNOPUV QP VSŘJUPV EPCV WZWPMÈ TF UÓN LWFUFOÓ 3PTUMJOB NŞżÓ UNV KBLP BCTFODJ ŘFSWFOÏIP TWŞUMB 1SP [BTUBWFOÓ SPTUMJOZ W LWFUFOÓ QżFSVÝUF QFSJPEV UNZ QPNPDÓ ŘFSWFOÏIP TWŞUMB KBLP KF TWŞUMP [ LMBTJDLÏ äÈSPWLZ CŞIFN QFSJPEZ UNZ B SPTUMJOB CVEF QPLSBŘPWBU W SƉTUPWÏ GÈ[J

,PNQBLUOÓ [ÈżJWLZ $'- NBKÓ QSBLUJDLÏ QPVäJUÓ "VUPS LOJIZ i4FWBO T CPPLw KF QPVäÓWBM OB TWÏ [BISÈEDF

3PTUMJOZ OB UÏUP [BISÈEDF OFWZUWPżJMZ TJMOÏ B PCKFNOÏ QBMJDF

,EZä ŘFSWFOÏ TWŞUMP LPOŘÓ USWÈ OFBL UJWOÓ GPSNB LUFSÈ OFWZWPMÈWÈ LWF UFOÓ BTJ EWŞ IPEJOZ OFä TF QżFQOF

OB BLUJWOÓ GPSNV 5P NƉäFNF [OBŘOŞ VSZDIMJU JOGSBŘFSWFOâN TWŞUMFN *OGSBŘFSWFOÏ TWŞUMP OFNƉäFNF WJEŞU BMF NƉäFNF IP WOÓNBU KBLP UFQMP ,MBTJDLÏ äÈSPWLZ WZ[BżVKÓ BTJ FOFSHJF KBLP TWŞUMP 0TUBUOÓDI KF WZ[BżPWÈOP KBLP JOGSBŘFSWFOÏ TWŞUMP ,EZä TWŞUMP OBSB[Ó OB QFWOâ QPWSDI KF FOFSHJF QżFWFEFOB OB UFQMP

7BÝJ WMBTUOÓ JOGSBŘFSWFOPV MBNQV TJ NƉäFUF VEŞMBU UBL äF [BLSZKFUF LMBTJDL PV äÈSPWLV OFQSƉIMFEOâN ŘFSOâN QBQÓSFN 7JEJUFMOÏ TWŞUMP TF [BDIZUÓ BMF JOGSBŘFSWFOÏ QBQSTLZ QSPKEPV TLS[ GJMUS *OGSBŘFSWFOÏ äÈSPWLZ KTPV EPTUVQOÏ J W DIPWBUFMTLâDI QPUżFCÈDI LEF TF QSP EÈWBKÓ KBLP ŘFSOÏ MBNQZ

,EZä JOGSBŘFSWFOÏ TWŞUMP QżJKEF EP LPOUBL UV T OFBLUJWOÓ GPSNPV LWŞUOÓIP IPSNPOV KF UFOUP IPSNPO PLBNäJUŞ QżFNŞOŞO OB BLUJWOÓ GPSNV *OGSBŘFSWFOÏ TWŞUMP OFNVTÓ [ƉTUBU W LPOUBLUV T SPTUMJOBNJ EMPVIP o TUBŘÓ KFO OŞLPMJL PLBNäJLƉ 'PUPQFSJPEJTNVT NÈ MPLBMJ[PWBOâ ÞŘJOFL ,EZCZTUF NŞMJ SPTUMJOV T EWŞNB WŞUWFNJ B KFEOB [ UŞDIUP WŞUWÓ CZ NŞMB QSBWJEFMOâ TWŞUFMOâ SFäJN [BUÓNDP ESVIÈ CZ EPTUÈWB MB OFQżFSVÝFOÏ TWŞUMP QBL CZ QSWOÓ WŞUFW

LWFUMB BMF ESVIÈ WŞUFW CZ QPLSBŘPWBMB WF WFHFUBUJWOÓ GÈ[J 1SPUPäF ÞŘJOFL KF QPV[F NÓTUOÓ NVTÓ CâU WÝFDIOZ ŘÈTUJ SPTUMJOZ W EPTBIV JOGSBŘFSWFOÏIP TWŞUMB 1żJ QPVäJUÓ JOGSBŘFSWFOÏIP TWŞUMB NZTMFUF TUFKOŞ KBLP CZTUF QPVäÓWBMJ QPTUżJL OB SPTUMJOZ 1żJ TLPOŘFOÓ NVTÓ CâU DFMÈ SPTUMJOB B WÝFDIOB KFKÓ LWŞUFOB QPLSZUB WPEPV #FSUF UP UBL KBL LEZCZTUF NŞMJ QPTUżÓLBU SPTUMJOV OFWJ EJUFMOâN TWŞUMFN 1PTUżJL CZ TF NŞM BQMJ LPWBU LBäEÈ WFŘFS QP TFUNŞOÓ OFCP QPUÏ DP EPKEF L WZQOVUÓ PTWŞUMFOÓ ÁŘJOLZ JOGSBŘFSWFOÏIP TWŞUMB QżJ PVUEPPS QŞTUPWÈOÓ 7"307«/¶ 5:50 .&50%: +406 7 406ė"4/² %0#ĝ 7& '«;* 5&4507«/¶ 7Å4-&%,: #6%06 , %*410;*$* 7 13ň#ĝ)6 50)050 30,6

7 EżÓWŞKÝÓN ŘMÈOLV v1SPKFLU )BJLVi KTFN QPQJTPWBM KBL QżJOVUJU SPTUMJOZ LWÏTU SZDIMFKJ [B QPNPDJ LBäEPEFOOÓIP [BLSâWÈOÓ SPTUMJO OFQSƉIMFEOPV QMBDIU PV 3PTUMJOZ CZMZ TLMJ[FOZ PTN UâEOƉ QP [BŘÈULV UÏUP QSPDFEVSZ *OGSBŘFSWFOÏ TWŞUMP NƉäF CâU OBISB[FOP [B QMBDIUV 7 TFWFSOÓ ,BMJGPSOJJ LEF TF 1SPKFLU )BJLV LPOBM KF ŘFSWOB OFKEFMÝÓN EOFN B OFKLSBUÝÓ OPDÓ SPLV [BISÈELB EPTUÈWÈ IPEJO TWŞUMB B IPEJO UNZ ,SÈULÈ QFSJPEB UNZ PEEBMVKF LWFUFOÓ $IFNJDLZ UP

3PTUMJOZ OB UÏUP [BISÈEDF OFWZUWPżJMZ TJMOÏ B PCKFNOÏ QBMJDF

OFBLUJWOÓNV LWŞUOÓNV IPSNPOV OŞKBLPV EPCV USWÈ OFä TF [BŘOF QżFNŞŵPWBU OB BLUJWOÓ GPSNV o BTJ IPEJOZ 3PTUMJOZ KTPV QPE WMJWFN LWŞUOÓIP IPSNPOV KFO IPEJO UBLäF SPTUMJOB SPTUMJOB [ƉTUÈWÈ WF WFHFUBUJWOÓ GÈ[J ,EZä TF SPTUMJOZ vQPTUżÓLBKÓi JOGSBŘFSWFOâN TWŞUMFN QżFNŞŵVKÓ TF IPSNPOZ OB BLUJW OÓ GPSNV 1PLVE TF UPUP EŞKF EFOOŞ QżJ TPVNSBLV QPTLZUVKF UP SPTUMJOÈN OBWÓD EBMÝÓ EWŞ IPEJOZ WMJWV BLUJWOÓIP IPSNP OV LBäEâ EFO 5P KF EPTUBUFŘOŞ EMPVIÈ EPCB OB UP BCZ TF QżFQOVMZ EP LWŞUV B [BŘBMZ UWPżJU QPżÈEOÏ QBMJDF 5BLäF QPLVE CZMB [BISÈELB VQSBWFOB W LWŞUOV CVEPV [SÈU W ŘFSWFODJ 6QSBWFOÏ [BISÈELZ W ŘFSWOV TF TLMÓ[FKÓ W TSQOV )MBWOÓN QSPCMÏNFN QżJ QPVäJUÓ JOGSBŘFSWFOÏIP TWŞUMB KF PCŘBTOÏ QSPUBIP WÈOÓ TUPOLV &YJTUVKF WÝBL żFÝFOÓ QPTUżÓLFKUF SPTUMJOZ NPESâN TWŞUMFN .PESÏ TWŞUMP TF QPVäÓWÈ QP EFTFUJMFUÓ W [BISBEOJDUWÓDI BCZ SPTUMJOZ [ƉTUBMZ LPNQBLUOÓ B [BCSÈ OJMP TF QSPUBIPWÈOÓ TUPOLƉ 'PUPQFSJPEB SPTUMJOZ OFOÓ NPESâN TWŞUMFN PWMJWOŞOB 1PUÏ DP TF OB SPTUMJOZ QPVäJKF JOGSBŘFSWFOÏ TWŞUMP QPVäJKUF J NPESÏ TWŞUMP BCZTUF NŞMJ TUPOLZ LSÈULÏ B QPETBEJUÏ *OGSBŘFSWFOÏ TWŞUMP QżJ JOEPPS QŞTUPWÈOÓ 7"307«/¶ '*/«-/¶ 7Å4-&%,: ; 5ĝ$)50

&91&3*.&/5ň +&À5ĝ /&#:-: 7:%«/:

7 UZQJDLÏ JOEPPS [BISÈEDF TF TWÓUÓ QP EPCV IPEJO UFEZ QPMPWJOV EOF 1P[JUJWOÓ OB UPN KF äF QFSJPEB UNZ QżJOVUÓ SPTUMJOZ LWÏTU /FHBUJWOÓ OB UPN KF äF CŞIFN QFSJ PEZ UNZ TF OFQSPWÈEÓ GPUPTZOUÏ[B /ŞLPMJL QŞTUJUFMƉ WZQPŘÓUBMP LSJUJDLPV EPCV LWFUFOÓ SPTUMJO B [WâÝJMJ QFSJ PEV TWŞUMB BTJ P IPEJOV B QƉM .ÓTUP UPIP BCZ TUSÈWJMZ SPTUMJOZ BTJ ŘBTV WF UNŞ TUSÈWÓ KFO $P KF BMF EƉMFäJUŞKÝÓ VäÓWBKÓ TJ P WÓDF TWŞUMB 5P [OBNFOÈ [WâÝFOÓ TWŞUFMOÏ QFSJP EZ P 4 UÓN TPVWJTÓ TBNP[żFKNÏ [WâÝFOÓ TLMJ[OŞ 1PVäJUÓN JOGSBŘFSWFOÏIP TWŞUMB OÈTMFEPWB OÏIP NPESâN TWŞUMFN TF [LSÈUÓ QPUżFCOÈ EPCB QFSJPEZ UNZ FGFLU KF UBLPWâ KBL LEZCZ SPTUMJOZ CZMZ WZTUBWFOZ TUBOEBSEOÓ EPCŞ UNZ 1żFETUBWUF TJ äF CZTUF NPIMJ TOÓäJU QFSJPEV UNZ P IPEJOZ B [ÓTLBU UBL P WÓDF EPCZ QSP TWŞUMP 1żJ QPVäJUÓ PCPV TQFLUFS TF DFMLPWÈ QFSJP EB TWŞUMB QSPEMPVäÓ OB IPEJOZ DPä KF LBäEâ EFO P UżJ B QƉM IPEJOZ WÓDF ŘBTV QSP UWPSCV DVLSƉ B FOFSHJF QSP SƉTU $FMLPWâ WâTMFEFL WŞUÝÓ QBMJDF B NOP IFN WÓDF

8IJUF 8JEPX V OÈT

.BIPOOZ

;BŘÓOBMP KBSP B KÈ TF KBLPäUP LBäEÏ KJOÏ KBSP SP[IPEPWBM LBN B KBLÏ TFNFOB WZTBEÓN 7[IMFEFN L UPNV äF KTFN CZM W UÏ EPCŞ EPTU QSBDPWOŞ WZUÓäFOâ B UVEÓä CZDI OB EFMÝÓ PCDIƉ[LZ QPMÓŘFL OFNŞM ŘBT OBCÓ[FMB TF NJ W UÏ EPCŞ KFEJOÈ NPäOPTU %ÈU MFUPT LWŞUJOZ L EŞEPWJ B PCŘBT KFK OBWÝUŞWPWBU %ŞEB CZEMÓ OB LSBKJ NBMÏ WFTOJDF W EPNLV T LSÈTOPV QSPTLMF OPV UFSBTPV .ÓTUP CZMP UFEZ KBTOÏ 7 UÏ EPCŞ KBLP OB [BWPMBOPV TF NJ EP SVLZ EPTUBMB OBCÓELB OŞLPMJLB ESVIƉ TFNÓOFL PE WFMJDF [OÈNÏ TFFETCBOLZ 7PMCB CZMB KBTOÈ %ŞEB NJ OB UFSBTF WZQŞTUVKF MFHFOEÈSOÓ 8)*5& 8*%08 4FNÓOLB J T QPUżFCOâNJ JOGPSNBDFNJ KTFN UFEZ EŞEPWJ QżFEBM .PKF EBMÝÓ OÈWÝUŞWB CZMB BTJ QP NŞTÓDJ B QƉM ;F ŘUZż TFNÓOFL TF QPEBżJMP EŞEPWJ WZQJQMBU EWŞ LSÈTOÏ BTJ QBEFTÈU ŘÓTFM W[SPTUMÏ LWŞUJOZ +BL TFN KJä [NJŵPWBM EŞEB NÈ LSÈT OPV QSPTLMFOPV UFSBTV OB KJäOÓN TWBIV ,WŞUJOZ UBN VNÓTUJM EP M LWŞUJOÈŘƉ B UBL NŞMZ TQPVTUV TMVODF B [CZUFŘOŞ OB OŞ OFQSÝFMP v1BSÈEBi /BQPQSWÏ KTFN NŞM [ OŞIP SBEPTU 1żJ EBMÝÓ OÈWÝUŞWŞ NPKF SBEPTU NBMJOLP PQBEMB LEZä KTFN [KJTUJM äF [ KFEOÏ WZLWFUM PCSPWTLâ TBNFD .PKF DIZCB NŞM KTFN EŞEPWJ PTWŞUMJU SP[EÓMZ QPIMBWÓ B OÈTMFELZ [ UPIP QMZOPVDÓ 4BNDF KTFN PETUSBOJM B QPLSBŘPWBMP TF Vä KFO T KFEOPV QŞLOŞ PQMPEOŞOPV 4LMJ[Fŵ QSPCŞIMB ÞTQŞÝOŞ 7F WâTMFELV UP CZMB QBSÈEOÓ LZULB ,PMFN DN WZTPLÈ B BTJ NFUS ÝJSPLÈ T UŞäLâNJ WPŵBWâNJ QBMJDFNJ +FO USPDIV TFNFOJUÈ ,BäEPQÈEOŞ TF TFNÓOLB [EÈMJ LWBMJUOÓ B KÈ TF KFO UŞÝJM OB QżÓÝUÓ KBSP LEZ WZTFKJ 8)*5& 8*%08 WFOLV

4FNÓOLB CZMJ äJWPUB TDIPQOÏ B ŘJMÏ 1SWOÓ TFNÓOLP [B PLOFN WZMF[MP Vä ESVIâ EFO SÈOP ; QBEFTÈUJ KJDI OFWZLMÓŘJMP KFO ÝFTU /BLMÓŘFOÈ TFNÓOLB KTFN EBM EP NBMJOLâDI LWŞUJOÈŘƉ )MÓOV KTFN QPVäJM

(308.*9 B PCŘBTOŞ [BMÓWBM 30054 TUJ NVMÈUPSFN 3PTUMJOLZ CZMJ LPNQMFU OB TWŞUŞ QP ŘUSOÈDUJ EOFDI B KÈ KF PEOFTM WFO /B QPQJT KTFN WZCSBM KFO KFEOV TOBE KFO QSPUP äF SPTUMB TBNB OFCP äF CZMB UBLPWÈ UZQJDLÈ B PTPCJUÈ .ÓTUP KTFN WZCSBM OB KJäOÓN TWBIV NF[J USOJUâN NBMJOPWâN Bä LPQżJWPWâN QPSPTUFN 7ÝF KTFN QSPQMFM B WZUSIBM /B KFEOV LWŞUJOV KTFN [SZM BTJ KFEFO NFUS ŘUWFSFŘOÓ EP IMPVCLZ DN 1ƉEB CZMB ŘFSOP[FN T USPDIPV KÓMV OJKBL [WMÈÝƃ KTFN KJ OFVQSBWPWBM KFO TFN KJ QPżÈEOŞ OBLZQżJM B [CBWJM LBNFOÓ 3PTUMJOLZ KTFN EBM WFO LPODFN EVCOB LEZä Vä OFCZMJ OPŘOÓ NSB[Ó LZ 1żJ QżFTB[FOÓ [BMÓWBM KFO 30054 TUJNVMÈUPSFN B OFDIBM KF OB QPTQBT QżÓSPEŞ ;QPŘÈULV CZMP EPDFMB EFÝUJWP UFEZ ŘFSWFOFD CZM EFÝUJWâ UBLäF TF TBNP[żFKNŞ OFWZIOVMJ OÈKF[EV TMJNÈLƉ DPä KF EPTU [CS[EJMP W SƉTUV 7ÝF BMF [MFQÝJM TMVOOâ TSQFO LUFSâ KJN EBM QMOPV TÓMV B WâÝLV ;BÝUJQPWBM KTFN BLPSÈU

EWBLSÈU B P [CZUFL TF QPTUBSBMJ TMJNÈDJ 1żJCMJäOŞ EP QPMPWJOZ TSQOB KTFN KF [BMÏWBM QSBLUJDLZ KFO TBNPUOPV WPEPV 7ZQBEBMZ [ESBWŞ CF[ TFCFNFOÝÓDI QSPCMÏNƉ B ŘJMF SPTUMZ 1SPUP KTFN KF BOJ OF[BMÏWBM äÈEOâNJ IOPKJWZ 1żJ OBLWÏ UÈOÓ KTFN TF SP[IPEM QżFDJ KFO QżJIOPKJU B QPVäJM KTFN 1-"(30/ żBEZ "-(" #-00. LUFSâN KTFN OÈTMFEOŞ [BMÏWBM BTJ QP EPCV KFEOPIP NŞTÓDF

OFKQSWF TFN [BŘBM NM "-(" #-00.

M WPEZ QP UÏ TFN QżJEBM NM "-(" #-00. M WPEZ 5VUP [ÈMJWLV KTFN KJN EÈWBM LSÈU UâEOŞ .VTÓN żÓDU äF NŞ 8)*5& 8*%08 W QżÓSPEŞ EPTU QżFLWBQJMB /B UP äF NÈ W TPCŞ EPTU JOEJLZ UBL CZMB QPNŞSOŞ WFMLÈ DDB DN #ZMB EPTU WŞUWFOÈ B TUPOFL OBCSBM UBLPWPV TÓMV äF CF[ QSPCMÏNƉ VESäFM J UZ QżFUŞäLÏ WŞUWF +F QSBWEB äF 8)*5& 8*%08 QPUżFCVKF EPTU TWŞUMB /FKMÏQF KJäOÓ TWBIZ ,WŞUJOZ W QPMPTUÓOV CZMJ UPUJä

P QPMPWJŘLV NFOÝÓ B P QPMPWJŘLV NÏOŞ WŞUWFOÏ BMF LWBMJUPV TUFKOÏ 1żJCMJäOŞ UżJ UâEOZ QżFE TLMJ[OÓ KTFN QżFTUBM IOPKJU B QSPMÏWBM KFO WPEPV 1SPMÏWBU KTFN WMBTUOŞ BOJ NPD OFNVTFM QSPUPäF QSWOÓ QPMPWJOB żÓKOB CZMB EFÝUJWÈ Bä EPTU 1P QPMPWJOŞ żÓKOB KTFN NVTFM TLMÓ[FU OFCPƃ NŞ L UPNV QPŘBTÓ EPOVUJMP /ŞLUFSÏ WŞUWF OÈTMFE LFN EMPVIâDI EFÝƃƉ [BŘBMJ DIZUBU QMÓTFŵ ÀLPEZ CZMZ NBMÏ BMF OFDIUŞM KTFN QżJKÓU P WÝF UBLäF KTFN TLMJEJM L EWBDÈUÏNV żÓKOV .ZTMÓN äF EP LPODF żÓKOB CZ UP CZMP PQUJNÈMOÓ BMF DP TF EÈ EŞMBU 7F WâTMFELV UP CZMB TLWŞMÈ USÈWB TF vTVQSPWPVi DIVUÓ J WƉOÓ 1BSÈEOŞ [IVMÓDÓ T QPżÈEOŞ UŞäLâNJ QBMJDFNJ B QżJUPN EPDFMB OFOÈSPŘOÈ OB QŞTUPWÈOÓ +F QSBWEB äF TQPVTUZ MJEÓ KF 8)*5& 8*%08 QżFIMDFOP BMF QPEMF NÏIP KF 8)*5& 8*%08 WFOLV TVQFS 4FNÓOLB KFÝUŞ [ SPLV KTFN MFUPT WZÝUSBDIBM [ ÝVQMÓLV B EBSPWBM KF QÈS NâN [OÈNâN LUFżÓ TF EP OJDI QVTUJMZ B [BUÓN QPżÈE TMâDIÈN KFO QP[JUJWOÓ SFBLDF /B 8)*5& 8*%08 PVUEPPS OFEÈN EPQVTUJU ;LVTUF KJ

* ) * (

! !"/ -,/ .,/

#

+$%/

$%# & ' 0

!&3 ,/

&

1 2& #

1 /,

V H H G V

5FOUP QPE[JN äÈEOÏ QBMJDF .JOVMâ SPL KTFN TF QPQSWÏ QPLPVÝFM WZQŞTUPWBU TWPKJ WMBTUOÓ USÈWV ;BŘBM KTFN VWOJUż B KBL CZMZ EPTUBUFŘOŞ WFMJLÏ UBL KTFN SPTUMJOZ QżFTBEJM WFO .ŞM KTFN SPTUMJO B SPTUMZ TLWŞMF EP WâÝLZ BTJ NFUSV BMF OB LPODJ MÏUB [BŘBMZ WF TQPEOÓ ŘÈTUJ WÝFDIOZ äMPVUOPVU UBL KTFN KF WZUSIOVM [F [FNŞ UBLäF äÈEOÏ QBMJDF OFCZMZ ;BŘBM KTFN W EVCOV B [F [FNŞ KTFN KF WZUSIOVM W żÓKOV $P KTFN VEŞMBM ÝQBUOŞ B QSPŘ OFNŞMZ QBMJDF $IUŞM CZDI UP [LV TJU [OPWV UBL CZDI QPUżFCPWBM WŞEŞU KBL OBLMPOPWBU SPTUMJOZ %VCT

05«;,: 130 +03(& +PSHF $FSWBOUFT KF BVUPSFN .BSJKVBOB )PSUJDVMUVSF UIF *OEPPS 0VUEPPS .FEJDBM (SPXFS T #JCMF +BO +PSHF $FSWBOUFT 6MUJNBUF (SPX %7% * ** *OEPPS .BSJKVBOB )PSUJDVMUVSF 5IF *OEPPS #JCMF .BSJKVBOB *OEPPST 'JWF &BTZ (BSEFOT .BSJKVBOB 0VUEPPST (VFSSJMMB (SPXJOH BOE +PSHF T 3Y 1ÓÝF EP EWBOÈDUJ ŘBTPQJTƉ W ÝFTUJ KB[ZDÓDI ,OJIZ +PSHF KTPV WZEÈWÈOZ W IPMBOEÝUJOŞ BOHMJŘUJOŞ GSBODPV[ÝUJOŞ OŞNŘJOŞ B ÝQBOŞMÝUJOŞ 1SP WÓDF JOGPSNBDÓ TF QPEÓWFKUF OB XXX NBSJKVBOBHSPXJOH DPN

7ZQBEÈ UP äF KTUF EPTUBM ÝQBUOPV HFOFUJLV o TFNÓOLB 0CŘBT NƉäFUF WZQŞTUPWBU TLWŞMPV SPTUMJOV [ KBLÏIPLPMJW TFNÓOLB BMF OF QPLBäEÏ PC[WMÈÝUŞ QPLVE TFNÓOLB QPDIÈ[FKÓ [ USPQJDLÏ OFCP TVCUSPQJDLÏ PCMBTUJ /FKMFQÝÓ KF UBLPWÈ TFNÓOLB WZIPEJU B LPVQJU TJ OFCP [ÓTLBU TFNÓOLB ŘJ LMPOZ T EPCSPV HFOFUJLPV 1BNBUVKJ TJ KBL KTFN KFEOPV QżFE MFUZ QżJÝFM EP PCSPWTLÏ QŞTUÓSOZ BCZDI TF QPEÓWBM OB OŞLPMJL PCżÓDI EWPVNFUSPWâDI SPTUMJO 3PTUMJOZ QPDIÈ[FMZ [F TFNÓOFL [ ,PMVNCJF #ZMZ PCżÓ BMF UP KF UBL WÝFDIOP [F 8 TWŞUMB CZMP BTJ HSBNƉ OFQPETUBUOÏ USÈWZ 7ÈÝ QSPCMÏN [OÓ QPEPCOŞ 1PLVE TJ TFNÓOLB OFNƉäFUF PCKFEOBU QżFT JOUFSOFU OFCP [ SFLMBNZ W ŘBTPQJTF QPLSBŘVKUF T EPCSPV EPNÈDÓ PESƉEPV OFä OBKEFUF UZ TQSÈWOÈ /ZOÓ CVEPV J UBLPWÈ TFNÓOLB SP[IPEOŞ MFQÝÓ OFä USPQJDLÈ TFNÓOLB LUFSÏ NÈUF UFś .ƉäFUF TF UBLÏ QPPIMÏE OPVU QP LBNBSÈEFDI KFTUMJ OFNBKÓ OŞKBLÏ UZ LMPOZ 0IMFEOŞ LMPOƉ CZ QPżÈEOÏ WZTWŞUMFOÓ T QżÓLMBEZ USWBMP EMPVIPV EPCV .ƉäFUF TF BMF QPEÓWBU OB NÏ XFCPWÏ TUSÈOLZ B OBKÓU ŘMÈOFL W BOHMJŘUJOŞ P UPN KBL OB LMPOZ ;EF KF QżÓNâ PELB[ IUUQ XXX NBSJKVBOB HSPXJOH DPN EIUNM NFEJB@BSUJDMFT@FO QIQ

5BUP #VCCMFHVN QBMJDF KF LPVTFL PE TLMJ[OŞ 7ÝJNOŞUF TJ äF MJTUZ QP JOUFO[JWOÓN IOPKFOÓ [NŞOJMZ CBSWV DPä UBLÏ QżJEÈ OB WÈ[F B WFMJLPTUJ QBMJD

4WŞUMP B IOPKJWP /FKQSWF 7ÈN DIDJ QPEŞLPWBU $P QPUżFCVKJ WŞEŞU KF KFTUMJ )14 TWŞUMP GVOHVKF QSP GÈ[J LWŞUV .ÈN EWŞ EPCżF WZQBEBKÓDÓ TBNJŘÓ SPTUMJOZ LUFSÏ CZDI DIUŞM EPEŞMBU BMF OFNZTMÓN TJ äF ŘUZżJ 8 TWŞUMB CVEPV TUBŘJU ,EF OBKEV TQSÈWOÏ äJWJOZ B LUFSÏ äJWJOZ KTPV WMBTUOŞ UZ TQSÈWOÏ +BTPO 7BÝF EPCżF WZQBEBKÓDÓ SPTUMJOZ CS[P [USBUÓ KFKJDI ÝBSN QPLVE OFEPTUBOPV EPTUBUFL TWŞUMB BMF 8 )14 PTWŞUMFOÓ WZUWPżÓ TQPVTUV TWŞUMB QSP WZUWPżFOÓ IVTUâDI QBMJD UBLäF LWFUFOÓ CVEF IPUPWÏ [B SP[VNOPV EPCV ,EZä QżFQOFUF OB QFSJPEV IPEJO TWŞUMB B IPEJO UNZ BCZTUF WZWPMBMJ LWFUFOÓ QżFKEŞUF OB LWŞUOÓ GPSNVMJ T NFOÝÓN PCTBIFN EVTÓLV B WZÝÝÓN NOPäTUWÓN ESBTMÓLV B GPTGPSV &YJTUVKF TQPVTUB IOPKJW LUFSÏ TJ NƉäFUF WZCSBU %PQPSVŘVKJ [BKÓU EP OFKCMJäÝÓIP HSPXTIPQV B QPSBEJU TF PIMFEOŞ WBÝÓ WPEZ Q) B &$ UFEZ TUBWV SP[QVÝUŞOâDI TPMÓ WF WPEŞ 6SŘJUŞ WÈN EPCżF QPSBEÓ B TQPMFŘOŞ WZCFSFUF UP OFKMFQÝÓ QSP WBÝF SPTUMJOZ 1PLVE UP NÈUF EP HSPXTIPQV EBMFLP LPVLOŞUF OB JOUFSOFU OFCP [BWPMFKUF JO[FSFOUƉN W 4PGU 4FDSFUT LUFżÓ WZSÈCŞKÓ IOPKJWB +JTUŞ SÈEJ QPSBEÓ

%PCSâ VIMÓLPWâ GJMUS B QPUSVCOÓ TZTUÏN WZŘJTUÓ B PEWFEF QSZŘ IPSLâ WMILâ W[EVDI [ NÓTUOPTUJ

;BWŞTUF UFQMPNŞS B WMILPNŞS L SPTUMJOÈN BCZTUF NPIMJ NŞżJU UFQMPUV B WMILPTU 1PLVE KF LWFUPVDÓN SPTUMJOÈN QżÓMJÝ IPSLP PWMJWOÓ TF UÓN UWPSCB QSZTLZżJDF

!

& "# !! $ * "! "$ ) "# #' !% $ +

!

EEE /;/H=< 1=; EEE /;/H=< 1/ EEE /;/H=< 1= C9 EEE /;/H=< 23 EEE /;/H=< 4@ EEE /;/H=< 8>

"=@53 A A7;>:3 3/AG 5C723 A6=EA ;3@71/< /</27/< /<2 C@=>3/< B316<7?C3A B= 5@=E B63 ;/F7;C; G73:2 =4 B63 ;=AB >=B3<B 1/<</07A >=AA70:3L7<1:C27<5 E339 0G E339 >6=B= 0/A32 7<AB@C1B7=<A B= 5@=E / E339 1@=> 4@=; A332 /<2 / E339 1@=> =4 1:=<3A D3< N@AB B7;3@A /@3 5C/@/<B332 / 63/DG 6/@D3AB

#(%

B3:

<5:7A6

31=;3 /< 3F>3@B =< 5@=E @==; /<2 7<B3@<3B A31C@7BG 43;7<7H32 A332A A332:7<5A 1:=<7<5 ;=B63@ >:/<BA A>=BB7<5 ;/:3 /<2 43;/:3 >:/<BA 3/@:G >3/9 IA7<A3;7::/J 6/@D3AB /<2 ;/<71C@7<5 2@G7<5 /<2 1C@7<5 G=C@ 1@=> 4=@ 67563AB >=B3<1G

, % #! ## #!$ "*

%! "*, %#) " % "

CG =<:G B63 5@=E 53/@ G=C <332L6G2@=>=<71A /<2 A=7: $ ! $ :756BA &M ;3B3@A 4/<A /<2 N:B3@ALB= ;/F7;7H3 G=C@ 6/@D3AB 3A75< /<2 A3B C> G=C@ 5@=E @==; E7B6 AC>>:73A 4@=; G=C@ :=1/: 6/@2E/@3 AB=@3 /<2 5/@23< 13<B3@ ':CA B@=C0:3A6==B >@=0:3;A /<2 1=<B@=: 1=;;=< >3ABA /<2 27A3/A3A

=C@ ( !* ( &( () +) &%$.

=C@ % ! % &( () B3:

" ' " #!

D/:=< -6=:3A/:3 E6=:3A/:3 /D/:=<63/2A6=> 1= C9

F 7<163A F 1;

/>>3<27F 7<23F !) %

(&'% %! "* ) '+ % " @=E 7< 3@:7< 6BB>

EEE 5@=E 7< 03@:7< 23

! ""# &% ""#

#"( # $

) "# #' !% $

%/16BA16/BB3< ,3@:/5 EEE </16BA16/BB3< 16

%

F 7<163A F 1;

1=C<B:3AA 16/@BA 5@/>6A >:CA 23B/7:32 5:=AA/@G /<2 7<23F !) %

*63 74B6 27B7=< 7A B63 ;/@78C/</ 5@=E 070:3 E7B6 /:: B63 03AB 1/<</07A 5@=E 7<4=@;/B7=<L5@33<6=CA3A /<2 =CB2==@ 5@=E7<5 A332A A332:7<5A D353B/B7D3 5@=EB6 1:=<7<5 O=E3@7<5 0@3327<5 /<2 6/A6 5@=E @==; 23A75< /<2 1=<AB@C1B7=< B==:A 43@B7:7H3@AK 3D3@GB67<5

$ " ' * #%'( ,/< '/BB3< 27B=@/: ) $ EEE ;/@78C/</5@=E7<5 1=; I =<B/1B +AJ

#

"

" $

' % " & (! #%' %" (%#$ #C:C *@/27<5 6BB>

EEE 9C:CB@/27<5 1=;

#!$ ' # & &' ' EEE ;/@78C/</5@=E7<5 1=; I =<B/1B +AJ

;ÈSPELZ LWŞUƉ B [ÈżJWLZ 1ŞTUVKFNF QÈS SPTUMJO B NÈNF QSPCMÏNZ OBKÓU OŞKBLÏ [ÈSPELZ LWŞUƉ .ÈUF OŞKBLÏ WPEÓULP KBL OÈN QPNPDJ " UBLÏ KTNF TF DIUŞMJ [FQUBU KFTUMJ KF NPäOÏ EPTÈIOPVU QPżÈEOÏ ÞSPEZ QPLVE CZDIPN SPTUMJOZ QŞTUPWBMJ QPE [ÈżJWLBNJ "OHFM +BTOÈ WŞD 4BNŘÓ B TBNJŘÓ [ÈSPELZ LWŞUƉ KTPV QSWOÓN [OBLFN QPIMBWÓ SPTUMJOZ 3PTUMJOZ KTPV CVś TBNŘÓ OFCP TBNJŘÓ 1żÓMFäJUPTUOŞ TF WZTLZUVKÓ J PCPVQPIMBWOÓ IFSNBGSPEJU NBKÓDÓ LWŞUZ PCPV QPIMBWÓ PC[WMÈÝUŞ W QP[EŞKÝÓN PCEPCÓ OF UFEZ W QżFELWŞUPWÏ GÈ[J SƉTUV ;ÈSPELZ LWŞUƉ WZSƉTUBKÓ [ V[MƉ WŞUWJŘFL QżFTOŞ [B WâCŞäLFN MJTUV OFCP QBMJTUV PLPMP ŘUWSUÏIP UâEOF WFHFUBUJWOÓIP SƉTUV LEZ KF SPTUMJOB TUBSÈ ÝFTU Bä PTN UâEOƉ 5P KF PCEPCÓ TFYVÈMOÓ EPTQŞMPTUJ QSWOÓN [OBLFN SPTUMJOZ KF QżÓQSBWB OB LWFUFOÓ o EBMÝÓ GÈ[J äJWPUB SPTUMJOZ ;ÈSPELZ LWŞUƉ NƉäFUF TQBUżJU QPVIâN PLFN BMF EFTFUJ Bä UżJDFUJ OÈTPCOÏ [WŞUÝFOÓ QP[PSPWÈOÓ [BKJTUÏ VTOBEOÓ 1P PTNJ UâEOFDI NƉäFUF QżFTOŞ VSŘJU QPIMBWÓ SPTUMJOZ 1PVäJUÓN UÏUP NFUPEZ NƉäFUF SP[F[OBU QPIMBWÓ KFÝUŞ QżFE LWFUFOÓN 3PTUMJOZ QŞTUPWBOÏ [F TFNÓOFL QżJ GPUPQFSJPEŞ EFO OPD VLÈäPV PCFDOŞ [ÈSPELZ LWŞUƉ EżÓWF OFä SPTUMJOZ T GPUPQFSJPEPV ;ÈSPELZ LWŞUƉ KTPV OF[ÈWJTMÏ OB QPŘUV IPEJO TWŞUMB ŘJ UNZ LUFSÏ SPTUMJOB QżJKNF +BLNJMF KTPV [ÈSPELZ LWŞUƉ SP[F[OBUFMOÏ OB TBNŘÓ B TBNJŘÓ NƉäFNF SPTUMJOZ QżFQOPVU OB LWFUFOÓ T GPUPQFSJPEPV 4BNŘÓ [ÈSPELZ LWŞUƉ NBKÓ QZMPWÏ WÈŘLZ WJTÓDÓ KBLP NBMÏ CBMØOLZ ,BäEâ QZMPWâ WÈŘFL NÈ EPTUBUFL QZMV BCZ PQZMJM WÝFDIOZ TBNJŘÓ SPTUMJOZ W QSƉNŞSOÏ QŞTUÓSOŞ 0ETUSBŵUF B [OJŘUF TBNŘÓ SPTUMJOZ QŞTUPWBOÏ [F TFNÓOFL KBLNJMF SP[QP[OÈUF äF TF KFEOÈ P TBNŘÓ [ÈSPELZ LWŞUƉ 0ETUSBOŞOÓN TBNŘÓDI SPTUMJO TF WMBTUOŞ [BKJTUÓ äF DFMÈ ÞSPEB CVEF QPV[F TBNJŘÓ 4BNJŘÓ [ÈSPELZ LWŞUƉ WZQBEBKÓ KBLP OPSNÈMOÓ TBNJŘÓ LWŞUZ WŞUÝJOB NÈ QÈS CÓMâDI DIMV QBUâDI QFTUÓLƉ 1FTUÓLZ TF PCWZLMF PCKFWVKÓ QPUÏ DP TWŞUMP WZUWPżÓ ŘÈTU MJTUFOƉ 1PŘLFKUF EPLVE OFKTPV QFTUÓLZ EPTUBUFŘOŞ WZUWPżFOÏ BCZTUF TJ CZMJ KJTUJ äF SPTUMJOB KF TBNJŘÓ B OF TBNŘÓ 1żFELWŞUPWÈ GÈ[F USWÈ KFEFO Bä EWB UâEOZ ,EZä KTPV [ÈSPELZ LWŞUƉ KBTOŞ SP[QP[ OBUFMOÏ KBLP TBNJŘÓ NƉäFNF SPTUMJOZ QżFQOPVU OB LWFUFOÓ [WPMFOÓN GPUPQFSJPEZ IPEJO TWŞUMB B IPEJO UNZ 7äEZ T QPŘÈULFN LWFUFOÓ WZŘLFKUF EPLVE TF OFPCKFWÓ [ÈSPELZ LWŞUƉ 7ZWPMÈOÓ LWFUFOÓ T IPEJOBNJ OFQżFSVÝFOÏ UNZ B IPEJOBNJ TWŞUMB QżFEUÓN OFä TF [ÈSPELZ LWŞUƉ WZWJOPV [QƉTPCÓ SPTUMJOŞ [CZUFŘOâ TUSFT 5FOUP TUSFT CZ NPIM [QƉTPCJU OFPCWZLMâ SƉTU B [ SPTUMJOZ CZ TF NPIM TUÈU IFSNBGSPEJU 1żFEŘBTOÏ WZOVDFOÓ LWFUFOÓ OFVSZDIMÓ EPCV LWFUFOÓ ,WFUFOÓ CVEF USWBU TUFKOPV EPCV KBLP LEZCZTUF QPŘLBMJ OFä TF PCKFWÓ [ÈSPELZ LWŞUƉ 1PVäÓWFKUF [ÈżJWLZ 5 OFCP o 8 LPNQBLUOÓ [ÈżJWLZ $'- LUFSÏ KTPV QSP QŞTUPWÈOÓ [B EPCSPV DFOV -BNQZ NŞKUF CMÓ[LP o DN PE WSDIPMV SPTUMJO KFEJOŞ UBL EPTÈIOFUF OFKMFQÝÓDI WâTMFELƉ "WÝBL SPTUMJOZ PTWŞUMFOÏ QPNPDÓ 5 OFCP $'- [ÈżJWFL OJLEZ OFCV EPV NÓU TVQFS IVTUÏ QBMJDF KFEJOŞ QPLVE QPVäJKFUF TQPVTUV UŞDIUP [ÈżJWFL

)PSLÈ B TVDIÈ NÓTUOPTU 1ŞTUVKJ EFWŞU QżFLSÈTOâDI SPTUMJO +TPV BTJ EWB UâEOZ TUBSÏ /FKTFN TJ BMF KJTUâ KFTUMJ KF QŞTUVKJ TQSÈWOŞ 4OBäÓN TF OB UP KÓU MFWOŞ B KFEOPEVÝF .ÈN PLFOOÓ WFOUJMÈUPS T EWŞNB WŞUSÈLZ KFEFO OBTÈWÈ W[EVDI B ESVIâ IP WZTÈWÈ BTJ DN OBE SPTUMJOBNJ .PKF TLżÓŵ NÈ SP[NŞSZ Y N /FKWŞUÝÓ SPTUMJOB KF [BUÓN WZTPLÈ DN 7F TLżÓOJ KF BTJ ¡$ B WMILPTUJ .ÈN KFEOP 8 TWŞUMP LUFSÏ KF BTJ DN PE SPTUMJO +F UP W QPIPEŞ $04.0 1PUżFCVKFUF TOÓäJU UFQMPUV B [WâÝJU WMILPTU 3PTUMJOZ WF WFHFUBUJWOÓ GÈ[J SPTUPV MÏQF QżJ SFMBUJWOÓ WMILPTUJ W[EVDIV o QSPDFOU ,EZä SPTUMJOZ SPTUPV QżJ UBL NBMÏ WMILPTUJ QSPDFOU TQPUżFCVKÓ MJTUZ TQPVTUV FOFSHJF WZQBżPWÈOÓN WPEZ USBO TQJSBDÓ BCZ VESäFMZ WOJUżOÓ DIFNJDLÏ QSPDFTZ W OPSNÈMV 4QPKUF OÓ[LPV WMILPTU T WZTPLPV UFQMPUPV ¡$ B QPENÓOLZ CVEPV KFÝUŞ IPSÝÓ 3PTUMJOZ WŞOVKÓ WŞUÝJOV TWÏ FOFSHJF OB SFHVMBDJ JOUFSOÓDI DIFNJDLâDI QSPDFTƉ SPTUMJOZ B QBL NBKÓ KFO NÈMP FOFSHJF BCZ NPIMZ WZUWÈżFU OPWÏ SƉTUPWÏ CVŵLZ .VTÓUF [WâÝJU WMILPTU B TOÓäJU UFQMPUV /FKMFQÝÓ [QƉTPC KBL UPIP EPTÈIOPVU KF QSP TOÓäFOÓ UFQMPUZ W NÓTUOPTUJ [WâÝJU PUÈŘLZ WFOUJMÈUPSV BCZ TF EPTÈIMP UFQMPU BTJ ¡$ %ÈMF [EF VNÓTUŞUF NJTLV T WPEPV LUFSÈ TF CVEF PEQBżPWBU B [WâÝÓ UBL WMILPTU PLPMÓ .ƉäFUF UBLÏ QżFE WFOUJMÈUPS VNÓTUJU SVŘOÓL B KFIP ESVIâ LPOFD QPOPżJU EP OÈEPCZ T WPEPV UBLäF CVEF TUÈMF OBTÈWBU WPEV $JSLVMBŘOÓ WFOUJMÈUPS QPNƉäF [SZDIMJU PEQBżPWÈOÓ WPEZ W NÓTUOPTUJ B UÓN J [WâÝJU WMILPTU W[EVDIV 8 PTWŞUMFOÓ TUBŘÓ OB QMPDIV BTJ o DN ŘUWFSFŘOâDI 6ESäVKUF IP o DN OB WSDIPMZ SPTUMJO 1PLVE KFEOB ŘJ EWŞ SPTUMJOZ SPTUPV SZDIMFKJ OFä PTUBUOÓ PIOŞUF KF ŘÓNä TF EPTUBOF WÓD TWŞUMB J L PTUBUOÓN SPTUMJOÈN

4È[FOÓ LMPOƉ T IPMâNJ LPżFOZ EP TVCTUSÈUV KF TOBEOÏ QPLVE QżJ QżFTB[PWÈOÓ [BD IÈ[ÓUF T LżFILâNJ LPżFOZ PQBUSOŞ

3ƉäPWÏ QFTUÓLZ +TFN WÈÝ WFMLâ GBOEB BMF KF KBTOâ äF UP WÈN żÓLÈ TQPVTUB MJEÓ ėUV TJ WÝFDIOZ WBÝF ŘMÈOLZ W 4PGU 4FDSFUT B WÝFDIOZ KTPV TLWŞMÏ 7BÝJNJ SBEBNJ QPNÈIÈUF TQPVTUŞ [BŘÈUFŘOÓLƉN J QSPGFTJPOÈMƉN .ƉK LBNBSÈE NÈ #$ #MVF #VEEIB NBUFŘOÓ SPTUMJOV LUFSÈ CZMB WZQŞTUPWÈOB [F TFNÓOLB .BULB B WÝJDIOJ QPUPNDJ NBKÓ OB LWŞUFDI SƉäPWÏ TBNJŘÓ QFTUÓLZ B UBLÏ SP[ÝUŞQ 1FTUÓLZ KTPV PE [BŘÈULV SƉäPWÏ OFNŞOÓ TF 7ŞżÓN äF KTFN P UPN Vä OŞLEF ŘFUM BMF OFNƉäV TJ W[QPNFOPVU DP UP [OBNFOÈ 1PLVE NÈUF DIWJMLV SÈE CZDI EPTUBM SBEV PE FYQFSUB 'BOPVÝFL 3ƉäPWÈ KF V TMFŘFO QżFDF UBLPWÈ LSÈTOÈ CBSWB 1FTUÓLZ KTPV SƉäPWÏ QSPUPäF KF UP W HFOFUJDLÏN LØEV LUFSâ CZM QżFW[BU [F TFNÓOLB 1PLVE KF PESƉEB TUBCJMOÓ WÝJDIOJ QPUPNDJ CVEPV WZQBEBU WFMNJ QPEPCOŞ

%PTUBUFL $'- [ÈżJWFL $IPQJM KTFN TF OPWÏIP FYQFSJNFOUV T JOEPPS QŞTUPWÈOÓN LPOPQÓ .ÈN ŘUZżJ 8 $'- äÈSPWLZ OF USVCJDF [ OJDIä LBäEÈ WZUWÈżÓ MVNFOƉ B QŞTUFCOÓ QSPTUPS KF BTJ N $IZTUÈN TF [LVTJU OŞKBLÏ 4FOTJ 4UBS LMPOZ B Vä NÈN NÏEJ VN B LMPOPWBDÓ SP[UPL ,PMJL EPTQŞMâDI SPTUMJO CVEV TDIPQFO WZQŞTUPWBU VWOJUż NÏIP QSPTUPSV $ISJT 1PLVE KF QŞTUFCOÓ QSPTUPS WFMLâ BTJ Y NFUS NƉäFUF NÓU OB UÏUP QMPÝF o SPTUMJO 1PLVE SPTUMJOZ EPTUBOPV EPTUBUFL TWŞUMB CVEPV TJMOÏ B QPTLZUOPV EPCSPV ÞSPEV "WÝBL ŘUZżJ 8 $'- äÈSPWLZ DFMLFN UFEZ 8 WZUWPżÓ QSP UVUP QMPDIV NJOJNVN TWŞUMB 3PTUMJOZ OFCVEPV EPTQÓWBU B QBMJDF VSŘJUŞ OFCVEPV IVTUÏ 1PLVE NÈUF OŞKBLÏ QFOÓ[F OBWÓD QżJLVQUF EWŞ EBMÝÓ 8 $'- äÈSPWLZ DFMLFN 8

LUFSÏ CŞIFN LWFUFOÓ [WâÝÓ INPUOPTU QBMJD QżFE TLMJ[OÓ 0CFDOŞ BMF EPQPSVŘVKJ OB PTWŞUMFOÓ QMPDIZ Y NFUS 8 WâCPKLV * TF ÝFTUJ 8 $'- äÈSPWLBNJ CVEFUF OB QPMPWJOŞ WZ[ÈżFOÏIP TWŞUMB

(SPXTIPQ 5BPHSPXTIPQ D[

0VUEPPS JOEPPS TFSWJT IFBETIPQ *OEJWJEVÈMOÓ QżÓTUVQ LF LBäEÏNV [BLB[OÓLPWJ .PäOPTU FYQSFTOÓ EP EÈWLZ OB WÈNJ VSŘFOÏ NÓTUP ;BKÓ NBWÏ TMFWZ B EÈSLZ 0CKFEOÈWLZ QżJKÓNÈNF PTPCOŞ W PCDIPEŞ OB 5ż ėTM .MÈEFäF %ŞŘÓO V LSVIÈŘF OB OÈCżFäÓ UFMFGPOJDLZ GPSNPV TNT FNBJMFN FTIPQ!UBPHSPXTIPQ D[ QPÝUPV 7FÝLFSÏ [CPäÓ [BLPVQÓUF QSPTUżFEOJDUWÓN & TIPQV /BCÓ[ÓNF LPNQMFUOÓ QŞTUFCOÓ TZTUÏNZ )PNFCPYZ TVCTUSÈUZ IOP KJWB PTWŞUMFOÓ W[EVDIPUFDIOJLV EÈMF LVżÈDLÏ QPUżFCZ WBQPSJ[FSZ CPOHZ ESUJŘLZ CMVOUZ WPEOÓ EâNLZ LPOPQOPV LPTNFUJLV ŘBKF B EBMÝÓ WZDIZUÈWLZ

(SFFOIPNF o OPWÈ BESFTB ,PMMÈSPWB 1M[Fŵ

+FEJOâ HSPXTIPQ LUFSâ TF T WÈNJ EŞMÓ P WFÝLFSÏ JOGPSNBDF 1PSBEÓNF WÈN W QSPEFKOŞ J POMJOF /B OBÝFN XFCV OBKEFUF QPESPCOÏ JOGPSNBDF P OBCÓ[FOÏN [CPäÓ SP[TÈIMPV QPSBEOV B PE CPSOÏ ŘMÈOLZ 1SPEÈWÈNF WFÝLFSÈ IOPKJWB QŞTUJUFMTLÏ WZCBWFOÓ B OF[CZUOÏ EPQMŵLZ )FBETIPQ (SFFOIPNF OBCÓ[Ó ÝJSPLâ WâCŞS WâSPCLƉ [ LPOPQÓ B LVżÈDLâDI QPUżFC (SPXTIPQ B IFBETIPQ (SFFOIPNF ,PMMÈSPWB 1M[Fŵ JOGP!HSFFOIPNF D[ XXX HSFFOIPNF D[ 1P 1È 4P

(SPXNBOJB 1SBIB

4QFDJBMJTUV OB QŞTUPWÈOÓ SPTUMJO QPE VNŞMâN PTWŞUMFOÓN (SPXNBOJB OB MF[OFUF QżFTOŞ OB QƉM NF[J QSBäTLâN 4NÓDIPWTLâN OÈESBäÓN B "OEŞMFN 0ECPSOŞ WZÝLPMFOâ QFSTPOÈM QPTLZ UVKF QPSBEFOTUWÓ B QPNPD T WâCŞSFN [F ÝJSPLÏIP TPSUJNFOUV WZCBWFOÓ QŞTUFCOÓDI TVCTUSÈUƉ PTWŞUMFOÓ IOPKJW ŘJ IZESPQPOJDLâDI TZTUÏNƉ 5BLÏ [EF OBMF[OFUF QżJESVäFOPV OBCÓELV LVżÈDLâDI QPUżFC QƉKŘPWOV WBQPSJ[ÏSƉ OFCP LPOPQOÏ PCMFŘFOÓ (SPXNBOJB KF "LSFEJUP WBOPV LPOPQOPV QPSBEOPV $BOOBEFSN TQPMFŘOPTUJ $BOOBCJT 1IBSNB EFSN

(SPXNBOJB T S P /ÈESBäOÓ 1SBIB 4NÓDIPW 1P 1È 4P 5FMFGPO XXX HSPXNBOJB D[

(SPXTIPQ D[

/FKTUBSÝÓ OFKWŞUÝÓ B OFKMFQÝÓ PCDIPE QSP QSPGFTJPOÈMOÓ LVżÈLZ B OBEÝFOÏ QŞTUJUFMF W 1SB[F B DFMÏ ė3 )MBWOÓ EPWP[DF QSP ė3 B 43 WFMLPPCDIPE NBMPPCDIPE FTIPQ 4MFWZ TPVUŞäF QżFEQSPEFK MÓTULƉ CF[ QPQMBULƉ EÈSLZ QSP IPEOÏ [ÈLB[ OÓLZ ;BLMÈEÈNF TJ OB LWBMJm LBDJ OBÝJDI QSPEBWBŘƉ ÀLPMÓNF J QSPEBWBŘF PTUBUOÓDI ŘFTLâDI B TMPWFOTLâDI HSPXTIPQƉ /BCÓ[ÓNF WÝFDIOZ IMBWOÓ [OBŘLZ IOPKJW QŞTUFCOÓ TZTUÏNZ CJPTFLUPS CPOHPUÏ LB NFHBWâCŞS CMVOUƉ EJHJUÈMOÓ WÈIZ TFNFOB VLÈ[LPWÈ .JŘVSJOPWB [BISÈELB LPO[VMUBDF T PTPCOÓN [BISBEOÓLFN OBEVQBOâ TLMBE W -FUŵBOFDI o QSPEFK QżÓNP [F TLMBEV WFMLPPCDIPEOÓ QSPEFK NOPäTUFWOÓ B WŞSOPTUOÓ TMFWZ ,BNFOOâ PCDIPE #PżJWPKPWB 0UWÓSBŘLB 1P o 1È 4P 5FM XXX HSPXTIPQ D[

(SPXMBOE

3FQSF[FOUBUJWOÓ QSPEFKOB B $BOOB LOPXMFEHF DFOUSF QSW OÓ B KFEJOÏ NÓTUP W ė3 T PECPSOŞ WZÝLPMFOâN QFSTPOÈMFN 0ECPSOÏ QPSBEFOTUWÓ WÝFDIOZ [OBŘLZ [OÈNâDI IOPKJW o $"//" "EWBODFE )ZESPQPOJD 1MBHSPO # $V[[ )Z QSP )FTJ #JPCJ[[ ()& .FUSPQ 4FNFOB %VUDI 1BTTJPO (SFFO )PVTF TFFE 1BSBEJTF TFFET 3PZBM RVFFO TFFET 4FOTJ TFFET ,PNQMFUOÓ OBCÓELB QŞTUJUFMTLâDI QPUżFC IFBETIPQPWâ TPSUJNFOU o WBQPSJ[ÏSZ WÈIZ CMVOUZ ESUJŘLZ CPOHZ GBKGLZ QƉKŘPWOB WBQPSJ[ÏSƉ [LVżLB GBTIJPO QSPTUŞ WÝF QSP TMVODF W EVÝJ .OPäTUFWOÓ B WŞSOPTUOÓ TMFWZ QSP OBÝF [ÈLB[OÓLZ ,POUBLU ÁKF[E 1SBIB .BMÈ 4USBOB PUFWżFOP J W TPCPUV

0UWÓSBŘLB QP QÈ TP 5FM NBJM VKF[E!HSPXMBOE D[ /PWÈ QPCPŘLB OB -FUOÏ ėFDIPWB 1SBIB 5FM NBJM MFUOB!HSPXMBOE D[ 0UWÓSBŘLB QP QÈ

#JPUPQ QSP WBÝF SPTUMJOZ

1SPGFTJPOÈMOÓ HSPXTIPQ W ėFTLâDI #VEŞKPWJDÓDI 1SPIMÏEOŞUF TJ QŞTUFCOÓ TZTUÏNZ W BLDJ /FVTUÈMF NÈNF [BQP KFOP OŞLPMJL QŞTUFCOÓDI TZTUÏNƉ 7Z TJ KF NƉäFUF EPTMPWB PTBIBU "FSPQPOJF IZESPQPOJF SPDLXPPM J TVC TUSÈUZ /BWÝUJWUF [BISÈELV W #JPUPQV 4SEDF LBäEÏIP HSPXFSB [BQMFTÈ SB EPTUÓ 1żFNâÝMÓUF P HSPXCPYV 1PEÓWFKUF TF OB OŞK W #JPUPQV 4BNP[żFKNPTUÓ KF OBCÓELB WFÝLFSâDI IOPKJW QŞTUJUFMTLÏIP WZCBWFOÓ B EBMÝÓDI EPQMŵLƉ (SPXTIPQ #JPUPQ 3JFHSPWB ėFTLÏ #VEŞKPWJDF JOGP!CJPUPQ D[ XXX CJPUPQ D[ 1P 1È o

XXX HSFFO IPVTF UV D[

;BCâWÈNF TF QSPEFKFN LPNQMFUOÓDI [BżÓ[FOÓ B QPUżFC QSP QŞTUPWÈOÓ SPTUMJO QPE VNŞMâN PTWŞUMFOÓN J QSP PVUEPPS 3P[TBI OBÝFIP TPSUJNFOUV QPLSâWÈ QŞTUPWÈOÓ W IZESPQPOJDLâDI TZTUÏNFDI QSƉUPLPWâDI J OBQPVÝUŞDÓDI QŞTUPWÈOÓ W [FNOÓDI TVC TUSÈUFDI SPDLXPPMV B LPLPTV 1SP QPUżFCV PTWŞUMFOÓ SPTUMJO W OBÝFN HSPXTIPQV OBCÓ[ÓNF DFMPV żBEV WâCPKFL B [ÈżJWFL WŘFUOŞ TUÓOJEFM B QżFEżBEOÓLƉ ; PCMBTUJ QżÓWPEV B PEWPEV W[EVDIV EPEÈWÈNF OŞLPMJL ESVIƉ B UZQƉ WFOUJMÈUPSƉ "MVn FYPWÏ B TPOPn FYPWÏ UWBSPWBUFMOÏ SPVSZ OB WFEFOÓ W[EVDIV B QżÓTMVÝFOTUWÓ LF TQPKPWÈOÓ B TOBEOÏ NPOUÈäJ "ESFTB 888 (3&&/ )064& 56 $; 5FMFGPO & NBJM PCDIPE!HSFFO IPVTF UV D[ QPOEŞMÓ QÈUFL TPCPUB OFEŞMF 4PVżBEOJDF (14 ¡ w/ ¡ w&

(SPXSPPN D[

,BNFOOâ PCDIPE W )SBEDJ ,SÈMPWÏ WÈT QPUŞÝÓ TWâN ÞUVMOâN QSPTUżFEÓN ÝJSPLâN TPSUJNFOUFN QŞTUJUFMTLâDI B LVżÈDLâDI QPUżFC B [LVÝFOPV PCT MVIPV 4BNP[żFKNŞ KF UPNV J UBL WF WFMLPTLMBEŞ #SPVNPW ,żJOJDF 4 OFVWŞżJUFMOŞ WFMLPV WâTUBWOÓ QMPDIPV LEF KF L WJEŞOÓ UÏNŞż WÝF 7FMLPV [B KÓNBWPTUÓ KF LPNQMFUOÓ WFSUJLÈMOÓ TZTUÏN IBOHJOH HBSEFO 7FÝLFSâ OÈÝ TPSUJ NFOU B EƉMFäJUÏ JOGPSNBDF OBMF[OFUF OB OBÝJDI XFCPWâDI TUSÈOLÈDI XXX HSPXSPPN D[ QSP EPUB[Z FNBJM TIPQ!HSPXSPPN D[ 0UFWżFOP ) , 1P 1B IPE NPC 1SBäTLÈ UżÓEB ,VLMFOZ ,żJOJDF 1P 1B IPE NPC t 1P UFMFGPOJDLÏ EPNMVWŞ KF NPäOP PUFWżÓU LEZLPMJW

*OOPWBUJPO (BSEFO 1BSEVCJDF

/ÈÝ HSPXTIPQ TF TQFDJBMJ[VKF OB OFKOPWŞKÝÓ UFDIOPMPHJF W PCMBTUJ QŞTUPWÈOÓ SPTUMJO 7 UPNUP PCPSV BLUVÈMOŞ UFTUVKFNF OBQżÓLMBE VMUSBTPOJDLÏ BFSPQPOJDLÏ TZTUÏNZ EP GZ /VUSBNJTU OBWSäFOP EMF /"4" QSP QŞTUPWÈOÓ W LPTNV 7PEOÓ DIMB[FOÓ )14 .) MBNQZ [OBŘLZ 'SFTDB 4PM OFCP P[POÈUP SZ PE 6OPWBJS WÓDF P UŞDIUP WâSPCDÓDI OB OBÝJDI TUSÈOLÈDI W TFLDJ JOOPWBUJPO QSPHSBN ,SPNŞ UPIP V OÈT OBKEFUF WFÝLFSâ NPäOâ HSPXTIPQ TPSUJNFOU IOP KJWB PE UJ SFOPNPWBOâDI WâSPCDƉ ÝJSPLâ WâCŞS QŞTUFCOÓDI TZTUÏNƉ CPIBUâ IFBETIPQ WÈIZ QƉKŘPWOB WBQPSJ[ÏSƉ /BÝJ QSPEFKDJ KTPV [LVÝFCOÓ QŞTUJUFMÏ OBEÝFODJ B PECPSOÓDJ W PCPSV OFQSPEÈWÈNF OJD ŘFNV OFWŞżÓNF , 7JÝŵPWDF 1BSEVCJDF $; 1P 1È 5FM

XXX J HBSEFO D[ JOGP!J HBSEFO D[

/BTI(SPX4IPQ D[

/BÝF QSPEFKOB TF OBDIÈ[Ó W ėFTLÏN 5ŞÝÓOŞ OB OFKTF WFS OŞKÝÓN Þ[FNÓ ėFTLÏ SFQVC MJLZ UÏNŞż OB TBNPUOÏ ISB OJDJ T 1PMTLFN B 4MPWFOTLFN +F WFEFOB UâNFN T NOPIPMFUPV [LVÝFOPTUÓ W NPEFSOÓN QŞTUPWÈOÓ /BÝJN HSPXFSƉN QSPUP QPTLZUVKFNF SBEZ LUFSÏ TF P UVUP TLVUFŘOPTU PQÓSBKÓ )MBWOÓN QSPHSBNFN OBÝFIP QPEOJLÈOÓ KF PSHB OJDLÏ QŞTUPWÈOÓ QżJ LUFSÏN EPTBIVKÓ OBÝJ [ÈLB[OÓDJ QżJSP[FOPV DIVƃ TWâDI WâQŞTULƉ /BÝJN LSÏEFN KF UFEZ CF[QPDIZCZ /«73"5 , 1Ļ¶30%ĝ /BTI(SPX4IPQ D[ +BCMVOLPWTLÈ ėFTLâ 5ŞÝÓO ,POUBLU

& TIPQ XXX OBTIHSPXTIPQ D[ & NBJM Pö DF!OBTIHSPXTIPQ D[ 0UFWÓSBDÓ EPCB 1P 1È 4P

#JPQMBOUT #SOP (SPXTIPQ o )FBETIPQ

#JPQMBOUT 0MPNPVD (SPXTIPQ o )FBETIPQ

/BWÝUJWUF OFKWŞUÝÓ PCDIPE OB +JäOÓ .PSBWŞ /BKEFUF V OÈT WÝF QSP QŞTUJUFMF PVUEPPS J PCSPWTLâ TPSUJ NFOU QSP QŞTUJUFMF JOEPPS 7FMLâ WâCŞS QŞTUFCOÓDI NÏEJÓ B TVCTUSÈUƉ IOPKJW WFSUJLÈMOÓ J IPSJ[POUÈMOÓ IZESPQPOJDLÏ TZTUÏNZ PTWŞUMFOÓ WFOUJMBDF NŞżÓDÓ UFDIOJLB WZCFSF TJ PQSBWEV LBäEâ WÓDF ŘJ NÏOŞ OÈSPŘOâ QŞTUJUFM ÀJSPLâ TPS UJNFOU QżFT QPMPäFL WÈN QżFETUBWÓ JOGPSNBDFNJ OBCJUâ QFSTPOÈM +BSP [BŘÓOÈ V OÈT

/BÝF QƉTPCFOÓ TF SP[ÝÓżJMP J OB TFWFSOÓ .PSBWV LEF KTNF PUFWżFMJ ESVIPV QPCPŘLV m SNZ #JPQMBOUT 7ÝF QSP QŞT UJUFMF PVUEPPS J PCSPWTLâ TPSUJNFOU QSP QŞTUJUFMF JOEPPS 7FMLâ WâCŞS QŞTUFCOÓDI NÏEJÓ B TVCTUSÈUƉ IOPKJW WFSUJLÈMOÓ J IPSJ[POUÈMOÓ IZESPQPOJDLÏ TZTUÏNZ PTWŞUMFOÓ WFOUJMBDF NŞżÓDÓ UFDIOJLB WZCFSF TJ PQSBWEV LBäEâ WÓDF ŘJ NÏOŞ OÈSPŘOâ QŞTUJUFM ÀJSPLâ TPSUJNFOU QżFT QPMPäFL WÈN QżFETUBWÓ JOGPSNBDFNJ OBCJUâ QFSTPOÈM /BWÝUJWUF OFKWŞUÝÓ PCDIPE OB 4FWFSOÓ .PSBWŞ +BSP [BŘÓOÈ V OÈT

ÀQJUÈMLB #SOP TUżFE 1P QB 5FM .PC XXX CJPQMBOUT D[ JOGP!CJPQMBOUT D[

,PäFMVäTLÈ 0MPNPVD 1P QB .PC XXX CJPQMBOUT D[ JOGP!CJPQMBOUT D[

3FWJUBMJ[BDF EŞS QSP QŞTUPWÈOÓ

.BHOFUJDLÏ JOEVLŘOÓ MBNQZ

1ŞTUPWBM KTFN W Y NFUSV IMVCPLâDI EÓSÈDI LUFSÏ CZMZ WZQMOŞOZ TNŞTÓ LPNQPTUV TMFQJŘÓN IOPKFN QFN[PV [CZULZ ŘFSWƉ SP[TÈIMPV [SOJUPV WVMLBOJ DLPV [FNJOPV TNÓDIBOPV T żÓŘOÓN QÓTLFN 5ÓN KTFN WZUWPżJM WFMNJ CPIBUPV PSHBOJDLPV TNŞT 1żJ KBSOÓN TMVOPWSBUV KTFN VNÓTUJM TWÏ QSPTUPSOÏ SPTUMJOZ EP EŞS 3PTUMJOZ KTFN TJ QżFEQŞTUPWBM JOEPPS B UP [ żÓ[LƉ 1BMJDF V[SÈMZ QżÓNP OB LWŞUOB /FDIBM KTFN KF QPżÈEOŞ EP[SÈU $FMÈ ÞSPEB TUÈMB PQSBWEV [B UP

1żFNâÝMÓN P LPVQJ 8 NBHOFUJDLâDI JOEVLŘOÓDI MBNQ LUFSÏ CZDI WZVäJM KBLP PTWŞUMFOÓ QSP QŞTUPWÈOÓ #ZMP NJ żFŘFOP äF WZQSPEVLVKÓ TUFKOŞ TWŞUMB KBLP 8 )14 WâCPKLB /FCZMP CZ UP Bä NPD TWŞUMB OB NPKJ [BISÈELV P SP[NŞSFDI Y NFUS %BWJE

$IUŞM CZDI WŞEŞU [EB NƉäV QPVäÓU TUFKOÏ EÓSZ J MFUPT +BL KF NÈN QP QżFEFÝMÏ TLMJ[OJ QżJQSBWJU -VJHJ (

.BHOFUJDLÏ JOEVLŘOÓ PTWŞUMFOÓ CZMP WZOBMF[FOP B EFNPOTUSPWÈ OP QBOFN 5FTMPV W MFUFDI TUPMFUÓ 1SBDVKÓ UÏNŞż TUFKOŞ KBLP [ÈżJWLZ ;ÈżJWLZ QPVäÓWBKÓ LBUPEV B BOPEV BCZ QżFOFTMZ FMFLUżJOV [B QPNPDJ QMZOƉ WŘFUOŞ QBS SUVUJ LUFSÏ VWPMŵVKÓ 67 [ÈżFOÓ LUFSÏ TF QżFWÈEÓ GPTGPSPWâN QPUBIFN OB WJEJUFMOÏ TWŞUMP

/FKEƉMFäJUŞKÝÓ OB WÝFN KF UP äF NVTÓUF [KJTUJU DP [FNJOŞ WMBTUOŞ DIZCÓ ;LVTUF TJ TFIOBU UFTUPWBDÓ TPVQSBWV B WZ[LPVÝFKUF TWÏ EÓSZ BOFCP TJ OFDIUF VEŞMBU QSPGFTJPOÈMOÓ SP[CPS 5ÓN [KJTUÓUF DP PQSBWEV DIZCÓ B DP NVTÓUF QżJEBU

.BHOFUJDLÏ JOEVLŘOÓ MBNQZ WZVäÓWBKÓ QSP WZCV[FOÓ QMZOƉ NJLSPWMOZ .BHOFUSPO QPEPCOâ UPNV LUFSâ TF QPVäÓWÈ W NJLSPWMOOâDI USPVCÈDI WZ[BżVKF UPL P WZTPLÏ GSFLWFODJ 1SPUPäF UZUP MBNQZ OFNBKÓ äÈEOÏ FMFLUSPEZ WZESäÓ PQSPUJ KJOâN MBNQÈN NOPIFN EÏMF B T QSƉCŞIFN ŘBTV QSBLUJDLZ OFEPDIÈ[Ó L UMVNFOÓ KBTV ÇJWPUOPTU TF PEIBEVKF OB IPEJO B WÓDF

/JDNÏOŞ [FNJOB VSŘJUŞ WZŘFSQBMB WFMLÏ NOPäTUWÓ EVTÓLV ESBTMÓLV B WÈQOÓLV UZ CZTUF NŞM VSŘJUŞ EPQMOJU &YJTUVKF WFMLÏ NOPäTUWÓ [ESPKƉ PELVE M[F EVTÓL EPQMOJU KBLP OBQżÓLMBE IOƉK HVÈOP ŘJ NPVŘLB [F TFNÓOFL %SBTMÓL EPQMOÓUF OFKMÏQF QżJEÈOÓN QPQFMB [ DIBMVI ŘJ EżFWB

-BNQZ KTPV EPTUVQOÏ W SƉ[OâDI WFMJLPTUFDI Bä EP WâLPOV 8 7ZSÈCŞKÓ TF W SƉ[OâDI UFQMPUÈDI CBSWZ PE UFQMÏ CÓMÏ Bä QP WFMNJ DIMBEOPV CÓMPV

1BNBUVKUF OB UP äF QPLVE WBÝF TNŞT OFOÓ EPTUBUFŘOŞ CPIBUÈ OB äJWJOZ NƉäFUF WäEZ QżJEBU KJOÏ PSHBOJDLÏ IOPKJ WP LUFSÏ KF EPCżF SP[QVTUOÏ 1PLVE KF [BTF NPD CPIBUÈ SPTUMJOZ VIZOPV 1SPUP KF OFKEƉMFäJUŞKÝÓ WÝF OFKEżÓWF QPżÈEOŞ PUFTUPWBU UBL BCZTUF EPTÈIMJ UŞDI OFKMFQÝÓDI WâTMFELƉ

-BNQZ KTPV ÞŘJOOÏ KBLP OFKMFQÝÓ 5 DN ÝJSPLÏ [ÈżJWLZ T ÞŘJOOPTUÓ NF[J o MVNFOZ OB XBUU /FKTPV UBL ÞŘJOOÏ KBLP )14 MBNQZ LUFSÏ WZQSPEVLVKÓ MVNFOƉ QżJ WâLP OV 8 UFEZ BTJ o MVNFOƉ OB XBUU OFCP .)

MBNQZ LUFSÏ WZQSPEVLVKÓ MVNFOƉ QżJ WâLPOV 8 DPä KF MVNFOƉ OB XBUU

&E 3PTFOUIBM KF QP DFMÏN TWŞUŞ [OÈNâ KBLP WFMLâ PECPSOÓL OB NBSJIVBOV #ŞIFN TWÏ UJ MFUÏ LBSJÏSZ TF W "NFSJDF TUBM HVSV LPOPQÓ +F BVUPSFN OFCP TF TQPMVQPEÓMFM OB EFTÓUDF LOJI P QŞTUPWÈOÓ NBSJIVBOZ B [ÈLPOFDI UâLBKÓDÓ TF UÏUP QSPCMFNBUJLZ 1SPEBMP TF WÓDF OFä NJMJPO WâUJTLƉ +FIP QSWPUJOB .BSJKVBOB (SPXFS AT (VJEF KF KFEJOPV LSOJIPV P LUFSÏ WZÝMB SFDFO [F W 5IF /FX :PSL 5JNFT #PPL 3FWJFX +FIP TMPVQFL v;FQUFKUF TF &EBi Vä EWŞ EFTÓULZ MFU PEQPWÓEÈ OB EPUB[Z ŘUFOÈżƉ [ DFMÏIP TWŞUB LUFSÏ [BKJNÈ IMBWOŞ QSPCMFNBUJLB QŞTUPWÈOÓ

1SPCMÏNZ T SP[UPŘJ 4 SP[UPŘJ USQÓNF Vä OŞLPMJL NŞTÓDƉ 1PVäÓWBMJ KTNF EPNÈDÓ QPTUżJL OB ÝLƉEDF LUFSâ PCTBIPWBM NâEMP UBCÈL B BMLPIPM UFO KF WÝFDIOZ VTNSUJM B OB NŞTÓD B QƉM CZM LMJE /ZOÓ TF WSÈUJMJ B SPTUMJOZ KTPV W QPLSPŘJMÏ GÈ[J LWŞUV .ƉäFNF TUÈMF QPVäÓU OB EPNÈDÓ QPTUżJL $P KJOÏIP M[F QPVäÓU +BL TF EPTUBMJ EP OBÝÓ QFSGFLUOŞ ŘJTUÏ B TUFSJMOÓ [BISÈELZ 1 0 6QSBWUF EPNÈDÓ QPTUżJL LUFSâ KTUF QPVäÓWBMJ KFO [ OŞK PETUSBŵUF UBCÈL ;LVTUF QPVäÓU vŘBKi WZSP CFOâ [ QPMÏWLPWÏ MäÓDF TLPżJDPWÏIP QSÈÝLV OBNPŘFOÏIP W BMLPIPMV B WPEŞ /BNÓTUP QPVäJUÓ NâEMB KBLP WMIŘÓDÓIP QSPTUżFELV LUFSâ QPNÈIÈ QFTUJDJEƉN SPWOPNŞSOŞ TF SP[QSPTUżÓU QP MJTUFDI NƉäFUF QPVäÓU LPNFSŘOÓ QżÓSPEOÓ WMIŘÓDÓ QSPTUżFEFL +JOâ [QƉTPC KBL WZIVCJU SP[UPŘF KF QPVäJUÓ MBNQ 4VMGVS KFEOPV ŘJ EWBLSÈU UâEOŞ OFCP QPVäJUÓ LPNFSŘOÓDI QFTUJDJEƉ 1SPCMÏN LUFSâ NÈUF NÈ KFEOV OFCP EWŞ NPäOÏ QżÓŘJOZ JOGFLDF OFCZMB [DFMB PETUSBOŞOB B OŞLPMJL QżFäJWÝÓDI WZUWPżJMP OPWÏ LPMPOJF BOFCP CZM QSPTUPS [OPWV OBQBEFO +FEOPV [ NPäOPTUÓ KBL TF WZIOPVU PQŞUPWOÏNV WâTLZUV SP[UPŘƉ KF QPŘLBU BTJ UâEFO B QPUÏ QSPWÏTU ESVIÏ LPMP QPTUżJLV 5ÓNUP [QƉTPCFN CZ NŞMJ CâU WÝJDIOJ SP[UPŘJ B KFKJDI QPUPNTUWP WZIVCFOP &YJTUVKÓ ŘUZżJ [QƉTPCZ KBL TF NPIPV ÝLƉEDJ EPTUBU OB [BISÈELV .PIPV TF UBN EPTUBU T MJENJ T SPTUMJOBNJ W [FNJOŞ ŘJ WF WZCBWFOÓ /FCP NPIPV CâU UBLÏ EP [BISÈELZ OBTÈUJ WFOUJMBDÓ -JEÏ 1SP DP OFKSZDIMFKÝÓ WâTMFELZ TJ WZNŞŵUF PCMFŘFOÓ IMBWOŞ CPUZ B QPOPäLZ OPTUF ŘFQJDJ B OFWQPVÝUŞKUF äÈEOÈ [WÓżBUB /JLEZ OFWTUVQVKUF EP QSPTUPSV QP QSÈDJ WFOLV OB [BISBEŞ 3PTUMJOZ 6NÓTUŞUF SPTUMJOZ OB EOƉ EP LBSBOUÏOZ 1PUÏ KF QSPIMÏEOŞUF QPNPDÓ MVQZ BCZTUF [LPOUSPMPWBMJ KFTUMJ OFOBKEFUF OB TQPEOÓ TUSBOŞ MJTUƉ OŞKBLÏ UZ SP[UPŘF ;FNJOB B WZCBWFOÓ /PWÈ [FNJOB LUFSÈ KF QBTUFSJ[PWBOÈ OFCP WZUWPżFOÈ [ SBÝFMJOZ LƉSZ OFCP [ LPLPTPWÏIP WMÈLOB KFO NÈMPLEZ PCTBIVKF OŞKBLÏ ÝLƉEDF 7ZCBWFOÓ QPVäJUÏ OB KJOâDI [BISBEÈDI CZ NŞMP CâU żÈEOŞ VNZUÏ B WZEFTJOGJLPWBOÏ TJMOâN TQSFKFN OB QFTUJDJEZ OFCP BMFTQPŵ QFSPYJEFN WPEÓLV 7ŞUSÈOÓ 3P[UPŘJ B KJOÓ ÝLƉEDJ KTPV ŘBTUP OBTÈOJ EP QSPVEV W[EVDIV 1PLVE KF QSPTUPS DIMB[FO WFOUJ MBDÓ QBL CZ OBTÈWÈOÓ J WZTÈWÈOÓ NŞMP CâU DISÈOŞOP GJMUSZ )&1" GJMUSZ KTPV WFMNJ EPCSPV WPMCPV

6IMÓLPWâ GJMUS o TBNPTUBUOÏ VIMÓLPWÏ GJMUSZ KTPV L EPTUÈOÓ W SƉ[OâDI WFMJ LPTUFDI 7FOUJMÈUPS UBL EP QSPTUPSV EPTUBOF W[EVDI B WFMNJ SZDIMF [CBWÓ NÓTUP OFWIPEOÏIP [ÈQBDIV

1żÓMJÝ IPSLÏIP W[EVDIV

ėJÝUŞOÓ LPSÈMV

.ÈN QSPCMÏN VESäFU DIMBE W NÏ [BISÈEDF P SP[NŞSFDI Y NFUSZ 1PVäÓWÈN W[EVDIFN DIMB[FOÏ 8 )14 WâCPKLZ B QżFOPTOPV LMJNBUJ[BDJ P WâLPOV #56 5żJ TWŞUMB KTPV DIMB[FOB QPNPDÓ DN OBTÈWBDÓIP WFOUJMÈUPSV 1żJ [BQOVUÏ LMJNBUJ[BDJ J WFOUJMÈUPSV KF UFQMPUB TUÈMF NF[J Bä ¡$ +F UP EPTUBUFŘOÏ OFCP CZDI NŞM QżJEBU EBMÝÓ WFOUJMÈUPS OFCP NÈN QPżÓEJU WâLPOOŞKÝÓ LMJNBUJ[BDJ %SFX

$IUŞM CZDI [OPWV QPVäÓU LPSÈM DP NÈN BMF KF OB OŞN QMÓTFŵ B SP[UPŘJ UBLäF CZ TF NPIMZ LBNÓOLZ LPOUBNJOPWBU ėFUM KTFN WBÝF żFÝFOÓ PIMFEOŞ QPVäJUÓ LPODFOUSP WBOÏIP QFSPYJEV WPEÓLV LUFSâ WÝF VTNSUÓ BMF QPżÈE QżFNâÝMÓN KFTUMJ OFFYJTUVKF OŞKBLÏ OFDIFNJDLÏ żFÝFOÓ KBL TUFSJMJ[PWBU LBNÓOLZ 4FWFOUI 4FBM

,BäEâDI 8 FMFLUżJOZ WZQSPEVLVKF BTJ #56 UFQMB 8 WâCPKLB T EJHJUÈMOÓN QżFEżBEOÓLFN TQPUżFCVKF BTJ 8 T NBHOFUJDLâN QżFEżBEOÓLFN TQPUżFCVKF BTJ 8 #F[ DIMB[FOÓ W[EVDIFN WZQSPEVLVKÓ BTJ #56 "WÝBL QPLVE KTPV TWŞUMB DIMB[FOÈ W[EVDIFN LUFSâ KF QżJWÈEŞO [WFOLV B UFQMâ W[EVDI KF OBPQBL PETÈWÈO WFO [ NÓTUOPTUJ QBL TF WŞUÝJOB UFQMB PETUSBOÓ B [CVEF BTJ KFO o #56 OB KFEOP PTWŞUMFOÓ OFCP OBOFKWâÝ #56 .ÓTUOPTU CZ NŞMB CâU QPNPDÓ LMJNBUJ[BDF T WâLPOFN #56 EPTUBUFŘOŞ WZDIMB[FOB 1PLVE OF KFEOP [F [BżÓ[FOÓ OFGVOHVKF TQSÈWOŞ 1PLVE KF W NÓTUOPTUJ QżÓMJÝOÏ IPSLP LWƉMJ WZTPLÏ WFOLPWOÓ UFQMPUŞ FYJTUVKF OŞLPMJL żFÝFOÓ +F NPäOÏ [BQÓOBU PTWŞUMFOÓ OB OPD LEZä KF WFOLPWOÓ UFQMPUB OJäÝÓ 5P KF PC[WMÈÝUŞ WIP EOÏ QSP PCMBTUJ TF TUżFEP[FNOÓN LMJNBUFN LEZ W OPDJ LMFTÈ UFQMPUB P TUVQŵƉ J WÓDF *[PMVKUF QSPTUPS UBL BCZ TF EPWOJUż EPTUBMP DP OFKNÏOŞ WFOLPWOÓIP UFQMB 1PLSZKUF TUŞOZ UFOLâNJ DN QPMZTUZSFOPWâNJ EFTLBNJ 5Z W MÏUŞ PEJ[PMVKÓ WŞUÝJOV UFQMB [WFOŘÓ B DIMBE W [JNŞ 5ZUP EWB OÈQBEZ CZ NŞMZ WZżFÝJU QSPCMÏN "MF QPLVE OFKTPV WIPEOÏ CVEFUF NVTFU OB OFKUFQMFKÝÓ PCEPCÓ [WPMJU OÈLVQ EBMÝÓ LMJNBUJ[BŘOÓ KFEOPULZ

1PVäJUÓ QFSPYJEV WPEÓLV ) 0 KBLP TUFSJMJ[BŘOÓIP QSPTUżFELV KF VSŘJUŞ OFKKFEOPEVÝÝÓ [QƉTPC QSPUPäF TF NƉäF VEŞMBU OB NÓTUŞ /F[BOFDIÈWÈ äÈEOÏ [CZULZ B SP[LMÈEÈ TF OB LZTMÓL B WPEÓL 1PLVE WÈN WÝBL QPVäJUÓ ) 0 OFWZIPWVKF NƉäFUF QPVäÓU LUFSPVLPMJW [F EWPV NFUPE LUFSÏ KTPV TQÓÝF UFQMPUOÓ OFä DIFNJDLÏ o WBżFOÓ OFCP QFŘFOÓ 7BżFOÓ UBLUÏä PETUSBOÓ WÝFDIOZ PEVNżFMÏ SPTUMJOOÏ NBUFSJÈMZ B OFŘJTUPUZ LUFSÏ NPIPV CâU W NÏEJV 0IżFKUF OÈESä T LBNFOZ EPLVE TF OFEPTÈIOF CPEV WBSV /B NÓSOÏN PIOJ QBL WBżUF NJOVU "ä WPEB WZDIMBEOF UBL KJ WZMJKUF 1żFE QFŘFOÓN CZ TF NŞMZ LBNFOZ PQMÈDIOPVU PE KFKJDI ÞMPNLƉ 5P M[F VEŞMBU UBL äF TF WMPäÓ QPE UFLPVDÓ WPEV B PŘJTUÓ TF 1BL TF QFŘPV W USPVCŞ EPLVE LBNFOZ OFEPTÈIOPV UFQMPUZ ¡$ 1SP VSŘFOÓ UFQMPUZ QPVäJKUF UFQMPNŞS OB NBTP

6ESäFOÓ SPTUMJO W LWŞUV .ÈN SPTUMJOZ LUFSÏ Vä LWFUPV CZMZ QŞTUPWÈOZ JOEPPS QżJ DZLMV IPEJO UNZ B IPEJO TWŞUMB 1żFQOPV TF [QŞU OB SƉTU LEZä KF VNÓTUÓN WFO EP [FNJOZ LEF KF IPEJO TWŞUMB B IPEJO UNZ /FCP CVEPV QPLSBŘPWBU W LWŞUV J CF[ QżJLSâWÈOÓ 4LZXBMLFS

+BL [BCSÈOJU [ÈQBDIV

1SÈWŞ NÈN SPTUMJOV WF WFHFUBUJWOÓ GÈ[J QPE [ÈżJWLBNJ B QżFNâÝMÓN KFTUMJ KJ NPIV W[ÓU WFO BCZ UV WZLWFUMB 1PLVE BOP W LUFSâ NŞTÓD CZDI UP NŞM VEŞMBU %BOJFM '

/B NÏN QP[FNLV NÈN WŞUÝÓ QPŘFU NBSJIVBOZ "TJ QżFE UâEOFN KTFN TF OB OŞLUFSÏ [ SPTUMJO QPEÓWBM B [KJTUJM KTFN äF QBMJDF KTPV EPDFMB EPCżF WZWJOVUÏ BMF PCTBIVKÓ NOPIP OF[SBMâDI TFNÓOFL ;BKÓNBMP CZ NOF [EB KF NPäOÏ UFOUP QSP CMÏN OŞKBL WZżFÝJU #ZSPO

*OEJLZ B WŞUÝJOB TBUJW [BŘOPV LWÏTU QżJ SFäJNV IPEJO UNZ B IPEJO TWŞUMB PC[WMÈÝUŞ QPLVE CZMZ VNÓTUŞOZ W JOEPPS [BISÈEDF T SFäJNFN IPEJO TWŞUMB /ÈIMÈ [NŞOB QFSJPEZ UBLÏ QPNƉäF QżJ QżFTVOV *OEJLB SPTUMJOB LUFSÈ LWFUF QżJ IPEJOÈDI UNZ CVEF QPLSBŘPWBU W LWFUFOÓ QżJ IPEJOÈDI UNZ B IPEJOÈDI TWŞUMB

&YJTUVKF OŞLPMJL [QƉTPCƉ KBL [BCSÈOJU [ÈQBDIV /FKMFQÝÓN żFÝFOÓN QSÈWŞ QSP WBÝJ TJUVBDJ CVEF VNÓTUŞOÓ VIMÓLPWÏIP GJMUSV EP QŞTUFCOÓ NÓTUOPTUJ 'JMUS PETUSBOÓ WFÝLFSâ [ÈQBDI [ QSPTUPSV 7FOUJMÈUPS QSPäFOF W[EVDI GJMUSFN LUFSâ KF WFMNJ ÞŘJOOâ OB OFäÈEPVDÓ QBDIZ %BMÝÓ NFUPEPV LUFSPV M[F QPVäÓU KF TQFDJÈMOÓ HFM OB BCTPSQDJ [ÈQBDIV LUFSâ QżJUBIVKF NPMFLVMZ [ÈQBDIV B [BDIZUÓ KF +F UP WFMNJ KFEOPEVDIÏ (FM [BŘOF GVOHP WBU QżJ LPOUBLUV TF W[EVDIFN (FOFSÈUPS [ÈQPSOâDI JPOUƉ WZUWÈżÓ [ÈQPSOŞ OBCJUâ W[EVDI LUFSâ KF WFMNJ [ESBWâ &YUSB OBCJUÏ NPMFLVMZ UBL[WBOŞ QżFTLPŘÓ OB NPMFLVMZ [ÈQBDIV OFVUSBMJ[VKF B B QżFLPOÈ 1żJ QPVäJUÓ HFOFSÈUPSV [ÈQPSOâDI JPOUƉ W QŞTUFCOÓ NÓTUOPTUJ TF NƉäF PCKFWJU QSPCMÏN LEZ UZUP JPOUZ OFVUSBMJ[VKÓ J OŞLUFSÏ NPMFLVMZ QżÓNP OB SPTUMJOŞ 1SPUP CZ TF HFOFSÈUPSZ NŞMJ QPVäÓWBU W NÓTUFDI QżJMFIMâDI L QŞTUFCOÓN QSPTUPSÈN

*OEJLB B JOEJLB IZCSJEZ LUFSÏ TF QŞTUPWBMZ QżJ IPEJOÈDI OFQżFSVÝFOÏ UNZ CVEPV QPLSBŘPWBU W LWFUFOÓ QżJ IPEJOÈDI UNZ BMF QPLVE TF [LSÈUÓ EPCB UNZ UBL TF NPIPV QżFQOPVU EP SƉTUPWÏ GÈ[F %ÏMLB EOF TF NŞOÓ W [ÈWJTMPTUJ OB [FNŞQJTOÏ ÝÓżDF UBLäF OFOÓ NPäOÏ QżFTOŞ żÓDU UFO vTQSÈWOâ ŘBTi "CZTUF UP [KJTUJMJ TMFEVKUF EPCZ LEZ V WÈT [BŘÓOÈ TWÓUÈOÓ B TPVNSBL 3P[EÓM IPEOPU CZ OFNŞM CâU EFMÝÓ OFä IPEJO 4WÓUÈOÓ B TPVNSBL KF USPDIV OŞDP KJOÏIP OFä WâDIPE B [ÈQBE TMVODF 4WÓUÈOÓ QżFEDIÈ[Ó TWÓUÈOÓ 4PVNSBL KF EPCB QP [ÈQBEV TMVODF B MJÝÓ TF UBLÏ [FNŞQJTOPV ÝÓżLPV 1żJ WZÝÝÓ [FNŞQJTOÏ ÝÓżDF USWÈ EÏMF 3PTUMJOZ NŞżÓ EPCV OFQżFSVÝFOÏ UNZ BCZ VSŘJMZ LEZ LWÏTU ,MÓŘPWÏ TMPWP UV KF vOFQżFSVÝFOÏi 1PLVE KF UNB QżFSVÝFOB J LSÈULPV EPCPV TWŞUMB [BŘOF SPTUMJOB QPŘÓUBU EPCV LWŞUV PE [BŘÈULV .ŞżÓ EPCV LEZ TF QSPEVLVKF IPSNPO LUFSâ TF DIFNJDLZ WZUWÈżÓ LEZä KTPV SPTUMJOZ WF UNŞ ,EZä EPTÈIOF LSJUJDLÏ ÞSPWOŞ [BŘOF SPTUMJOB LWÏTU 1żJ WâTLZUV ŘFSWFOÏIP TWŞUMB TF WÝF [OJŘÓ

0( !9

7 ! ,0"+1% ) &0 1%" $2/2 ,# $ +' 8 &$% &*"0

!

" ! %

! $

"

# # #

# ! # #

! $ $

! # $ ! " ! $ $ ! $ # "

! ! $ !

$ " !

"

# " ! ! " " # "

! !

!

#

s " # !

s ! ! % $

s " #

! 0-"+1 5" /0 -"/#" 1&+$ %&0 $/,4 1" %+&.2" )) 5,2 +""! &0

/!(. ! 0.! ! $ %* ! !(%/. '%#$/ %) ) 0)0.0 ''4 ) -*2 .+! /-0( $! (%)!- '.

0.! /* ( &! %/

!/!-(%)! /$!

+)%&# $ .+! /-0( # # /$! %* ! !(%/. )! $ ' ' (+. ! % %$ (%/ (*./ *" &% % * $ ' /$!%- '%#$/ %) * .+! /-0(. /$ % #&

/ -! )*/ 1!-4 0.!"0' /* /$!

+' )/ %/$ . 53/0-!.

UÊ !$ ) ! !.%#)!

&$ $$ % /* +-*1% !

/$! +' )/. % %# %* 2%/$ !3 /'4 /$

$ ! # ! .+! /-0( /$ & % / /$!4 % !# )!! "*- ( 3%(0( & % #-*2/$

( %% $ ( 4 / %'*-%)# $ ' ! /$! %* !. # '%#$/ .+! * # ( /-0( /* +' )/ ! # % % !,0%-!(!)/. $% . ) ! #& ( (*-! !"5 %!)/ +-* 0 !-.

%( ' ' (+. &#$ * !'%1!- (*-! /*/ ' '%#$/ +!- 2 UÊ $ $% // *" %)+0/ 0/ . -! # %

/2% ! . !"5 %!) & $ UÊ $ / %) '%#$/ +!- 2 // %% % . ' (+

. $ / "& ! (! ).

2 ' % %# $%

(+ ) ! .0 % $ ./%/0/! "*- % % # "& #

2 ' ( # # ( % # + ) /$!

2 ' (+. ' % % $*$% ) ! .0 ./%/

$ # # 0/! "*- 2

' (+. % #$ $! 5-./ #!)!- /%*). *" ' (+. % )*/ !(%/ ) %) /!).! !)*0#$ '%#$/ /* .0+ . -! +*2!-! +*-/ !%/$!- 4 !%/$!- /%1! 1!#!/ / /- ). "*-(!%1! #-*2/$ *- *- %#%/ ' 6*2!-%)# 0/ -%1!- - )."* (* !-) 53/0-!.

-(!-.

-! .%(%' - /* 2$% $ 0.! $%#$!- + %/ *' ./4'! ( #)!/% 4 %* !. $ 1! '' ./. "*- 0)%/.

.*'1! /$*.! ! -'4 +-* /$!4 0.! (*-! '!(. !)!-#4 /$ ) %#%/ ' *)/-*'' %#$!- ,0 '%/4 !-. ) +-* 0 ! $! / /$ / .4./!(. 0.! ( ( 4 )!! /* !

*./'4 -! '%#$/ '*)# 2%/$ %..%+ /! $%. %

.*(! '0! 0./ . .( '' *).% !- /%*) . 2%/$

)4 */$!- +-* *(+ -! /* /$!

0 / ( )0" /0-!-. " "" $ # $! / ' (+. +-* 0 ! " + ./ ) - . %""!- $ 2$% $ $ . /* "!2 ( )0" /0 $ & "

& % #") " "' !

1!)/! ' ' $ " -!-.

'# (& (& ' , (+. !(%/ 1%-/0 $ $# %$ #-!!) '%#$/ /$! % '* ' ''4 )* $! / . , - "' ' $%# ( $ . .$*2) "# $ $ " * /$!4 ) ! +' ! $ # $ # /* ! !""! /%1!

2%/$ +' )/. ) 1!-4 ' !$& , % &! %& " ! ' % && ' ' " % " *.! /* / $ , ( !- %. '.* $! # - !) ) &# ' , % &, '# -! )*/ !) 0( " %# .*(!/%(!.

' ' . %#* ! *./ !-! 2%/$ /0 " & " # # ' & #(% "&' ( )0" /0-!-. !. "*- %- *- " ) " 2 /!- **'%)# % ( & " % , #"&( %) '0 ! "!2 #% $ # " 2$%/! '%#$/ !(%//!!$' #" & #!$ % ' ! " $! 14 1!)/%'

' $ " * ' #% &,&' !& ,

. %) /$!%- 0)%/. & " $ $ " $ * /%*) *- )4 *" /$! */$!- + $ $!.! %* !. /0 ''4 !( * '!(. ) $ " *- %) *)1!)%! ' $ " #)#$ %/ *( %) /%* ) !. " *" ) *" -! #-!!) ) '0! "" $ ' (+.

#

$ " +$ .+! /-0(. 2$% $ # $ $ %#$/ "-*( . *" 2 *( %)! /* ++! $ %# % $ .4./!( ) ! *( %) 2$%/! $%/! # #) $ #$ #) $

& ! ' ) %, '' 2%/$ ) ! '%#$/. $!'+ ' " " $ # ) 1 )/ # ' (+. # '# ' $ "'& ' &$% ) %, #& /* */$ .0++'4 0.!"0' 2 1!'! ( # & ! *" 0.%)# .* /$!-! %. )* -! .*) /* . - + )#/$. "*- /$! *( %) & ' / " &

/%*) *" %#! ++ #* % 4*0- %#%/ ' " #)#$ ) '%#$/. +' )/. ) .*"/!) /$! !!-%! & ( ' " ' % ) % ' ' (+ # %# " ##%" %)# %. /$ / 4*0 +0-+'! *'*- '#%& ' $#* % # " ) !).0-! /$ #!)!- /! 4 /$! ' !#" " . /* 4*0- */$!'# ' ( / 4*0 -! +-* '%#$/. %) -! . *( %) /%*) % ' $ " #)#$ " & $) !. /$! $ 1% %)# '' /$! (&'& #% " , '# "&(% & ' ! & & #" " '0! .+! /-0(. *" -! ) " % (*0)/ *" '%#$/ !'%1!-! '%#$/ 0 &%'4 ' ' ! + !(! #('$(' /$ / +' )/. )!!

/$! .+! /-0 $ & " ' $ " ' " $ # '# ) /* /$! # - & " /* /$-%1! " !) *- %)./ ) ( - )#! %. (*-! ' (+. $ 0.0 ''4 2% !- ! # $$

# /$ ) /$! ) !) 0.%)#

- /$!- /$ ) ) ! %) /$ / %. #0 - $ & " . -!

2 0.! /$!4 )/!! "*- !

-! .! /* /$! ) $ $ # '%#$/ 0/ $ !(%//!- !,0%1 '!)/ *" $ $ $ ' $ 2 (*./ * //. 0.%)# 2 %) -! .! %. %) " /$! " # %"

$$ " $

//. *" . /$! 4!''*2 .+! /-0

$ " 2 //. *" %)# %)# -! ( ! % "#! $# $ # . -! /!. / ) '0! . $ $ $" $" & # $! !,0%1 '!)/ # $ " $ $ %)./! %) -! . & # ! # ! $ #" ! $" # ! " ! " & ' "( '%#$/ 0/ ' ' $ " !. ! , '# )*/ %) /$! 4!' '*2 .+! /-0(

# ' $ $ " % #)#$ #$ " # $ " " # $ " " #

## " #

$ " )

$ ' $ $ ""

" # $ $ $ $# $ " $ ) % %# $ # %#$ #% $ $ " ) $# " " $ $%" # %" # $ # # " " " # ' " # $ " $ $ " # #% & # " $ " % $ #% " " #

# "$# # %$ " $ # * " %" & ") $ "$ $# ' $ ' $ " # " ' #$ $# "" $ "$ * # " !% " "

$ $# ' %# "$

* " # %$ " $#

$ ' $ " " #

"" $ %# "" $ #)#$ # $ $ + # # & ") $" $" % $ " " # "& " %# %# ) ( $) " " & $) ' " #% $ " $ $ ) $ $ & "# ' $ # # " # $ " $ " % $ # $# " #$ + $ $ " % $ $# ) %# " " #% $ " #)#$ #$ & " ' $ ) " " # " # & ")

& # " # $ + $ %# ##

" "" $ & " $ $ $ $ ' $ # $ % " # + ' $ " ' $ " " & " ' $ " # ' ) " # " # ' " $ $ $ # " " $ " " " " % # " $# # " " $ $# " " $ $ , ' " & " " # "& " $ ' $ " # ' ) & "# ' $ " # " %# $ $ % # $ $ $ # ' " #%# $ $ $$ # $ $ $$ #$ ) ' #$%" # " # $

/&+%# -07'2+/) .'-- #34' (2'3* 700&39 .

&#93 +)* #/)0 %+4253 4#34' *'#69 $0&9 340/' 3-''19 -0/) -#34+/)

"

/&+%# ()*#/ 8 ,5/, *' ()*#/+ #:#2 + 7'',3 '#2-9 06 054 *#2+(( 1#24 +3 # 6'29 3 &0023 *040 54%* *024 *2+34.#342'' -+,' #33+0/ ''&3 1-#/4 +)* 6'29 51

-07'2+/)

HD9FL <AK=9K=K

H=KL AFN9KAGFK

! % # $ # ! !

E=9DQ :M?K 9F< EAL=K

<ak]Yk]k

3" 5,2/ $ /!"+

HGO<=JQ EAD<=O

D=9> K=HLGJA9

O@AL=>DA=K

9H@A<K

EGD<Q :M<

JGGL JGL

L@JAHK >MK9JAME OADL

KHA<=J EAL=K

FMLJA=FL :MJF

s

9FLK

=fnajgfe]flYd Klj]kk]k

=FNAJGFE=FL9D KLJ=KK=K KHA<=J EAL=K

DA?@L :MJF

;9L=JHADD9JK 9F< KDM?K

s

GN=JO9L=JAF?

D=9> EAF=JK

9F< EM;@ EGJ=

9DKG AF;DM<=K AF>GJE9LAGF GF <==J$ >MF?MK ?F9LK$ ?GH@=JK$ EGD=K 9F< J9LK @=9L :MJF

;GJF :GJ=JK

0UJS\KLZ KPHNUVZ[PJ N\PKL [V [OL TVZ[ JVTTVU NHYKLU WYVISLTZ

"01 #/,* 1%" ""! /""!"/0

3 &) )" 1%/,2$%

444 0"+0&0""!0 ,*

")

444 $/,4 &+ "/)&+ ,*

)) ,,(0 3 &) )" 1

444 * 6,+ ,* ,,(0

/FQMÈOPWBOÏ PQZMFOÓ ;ÈMVEOÏ TBNŘÓ SPTUMJOZ OÈIPEOŞ PQZMJMZ OŞLPMJL SPTUMJO OB [BISÈEDF /ŞLUFSÏ [ CMJ[FO QSÈWŞ [BŘÓOBKÓ NŞOJU CBSWV [ CÓMÏ OB ŘFSWFOŞ IOŞEPV #VEF LPVż MFQÝÓ QPLVE TLMJEÓN QBMJDF Vä UFś OFCP NÈN KFÝUŞ DIWÓMJ QPŘLBU B TLMJEJU Bä EPTQŞKÓ Bä CVEPV QBMJDF QPżÈEOŞ GPSNPWBOÏ o CVEF LPVż W QPIPEŞ (SPX #PMF .MBEÏ QBMJDF T CMJ[OBNJ LUFSÏ QSÈWŞ [BŘÓOBKÓ IOŞEOPVU OFKTPV WIPEOÏ QSP QPVäJUÓ QSPUPäF OFPCTBIVKÓ NOPIP 5)$ 5)$ TF WZUWÈżÓ B VLMÈEÈ W äMÈ[PWJUâDI DIMPVQLÈDI LUFSÏ CVEPV WZEBUOÏ Bä QBMJDF EPTQŞKÓ .MBEÏ SPTUMJOZ NBKÓ NOPIFN NÏOŞ DIMPVQLƉ B UBLÏ OFNBKÓ QPżÈEOŞ WZQMOŞOÏ WSDIPMZ TQPVTUPV 5)$ B FTFODJÈMOÓNJ PMFKJ 1PLVE OFDIÈUF QBMJDF QPLSBŘPWBU W SƉTUV KFOä CZMZ QPV[F MFIDF PQZMFOÏ CVEPV TFNÓOLB [SÈU BMF CVEPV QPLSBŘPWBU WF WZUWÈżFOÓ OPWâDI LWŞUƉ 1PLVE CZMZ TJMOŞ PQZMFOZ QSBWEŞQPEPCOŞ QżFTUBOPV WZUWÈżFU OPWÏ LWŞUZ WF QSPTQŞDI [SÈOÓ TFNÓ OFL 7 LBäEÏN QżÓQBEŞ CVEPV TFNÓOLB SƉTU KBL LWŞUZ EP[SÈWBKÓ B VSŘJUF TF CVEPV NVTFU QżFE LPVżFOÓN PETUSBOJU J LEZä OFKTPV [SBMÏ

1żJ[QƉTPCFOÈ NBSJIVBOB /B NÏN QP[FNLV NÈN WŞUÝÓ QPŘFU NBSJIVBOZ "TJ QżFE UâEOFN KTFN TF OB OŞLUFSÏ [ SPTUMJO QPEÓWBM B [KJTUJM KTFN äF QBMJDF KTPV EPDFMB EPCżF WZWJOVUÏ BMF PCTBIVKÓ NOPIP OF[SBMâDI TFNÓOFL ;BKÓNBMP CZ NOF [EB KF NPäOÏ UFOUP QSP CMÏN OŞKBL WZżFÝJU -FF 0EEŞMUF TFNÓOLB PE QBMJD .ƉäFUF KF QBL QPVäÓU UBL KBL KTPV BOFCP KF [IVTUJU QPVäJUÓN IFEWÈCOÏIP TÓUB OFCP VEŞMÈOÓN WPEOÓIP IBÝF 1PLVE DIDFUF BCZ [ÈIPO GVOHPWBM TÈN P TPCŞ VNÓTUŞUF TFNÓOLB UBN LEF SPTUMB NBSJIVBOB 1PLVE NÈUF TLSâÝ T WZTPDF LWBMJUOÓNJ TFNÓOLZ NƉäFUF KF UBLUÏä QPVäÓU W UÏUP TNŞTJ 7âTMFELFN CVEF W[ÈKFNOÏ PQZMFOÓ LUFSÏ OBTUBOF EBMÝÓ TF[POV B TJMOŞKÝÓ IZCSJEZ "CZTUF QżFEFÝMJ QżÓMJÝOÏNV PQZMFOÓ OÈTMFEVKÓDÓ TF[POV [ISVCB W ŘFSWOV B ŘFSWFODJ KEŞUF OB TWPV [BISÈELV B SP[EŞMUF SPTUMJOZ EMF QPIMBWÓ 0ETUSBŵUF PLPMP c TBNŘÓDI SPTUMJO /ŞKBLÏ UBN [BOFDIUF OFCP OFCVEFUF NÓU äÈEOÏ PQZMFOÓ B äÈEOÈ EBMÝÓ TFNÓOLB

/FEPTUBUFL WƉOŞ B DIVUJ 1ŞTUVKJ VWOJUż IZESP [QƉTPCFN B NŞM KTFN PQSBWEV WFMNJ [EBżJMPV ÞSPEV /JDNÏOŞ WƉOŞ B DIVƃ NâDI QBMJD OFEPTBIVKF BOJ [EBMFLB UPIP DP KTFN TJ LPVQJM 1SP VTVÝFOÓ KTFN KF QPWŞTJM B QPUÏ V[BWżFM EP TLMFOŞOÏ OÈEPCZ LEF OFCZM W[EVDI B QPUÏ KF VMPäJM EP UFNOB /ŞLPMJLSÈU [B EFO KTFN VQPVÝUŞM [F TLMFOJDF QżFCZUFŘOâ W[EVDI .FMPEJF ;EÈ TF WÈN äF WBÝJN SPTUMJOÈN DIZCÓ DIVƃ B WƉOŞ 5P NƉäF CâU [QƉTPCFOP EWŞNB WŞDNJ 1SWOÓ [ OJDI KF UB äF KTUF QBMJDF TLMJEJM NPD CS[P 1PLVE TLMJEÓUF QBMJDF EżÓWF J LEZä KFO P QÈS EOÓ OFä KF UżFCB OFCVEPV NÓU UBL TJMOPV WƉOJ KBLP LEZä KF OFDIÈUF QPżÈEOŞ V[SÈU 4UPKÓ PQSBWEV [B UP TJ QPŘLBU QSPUPäF W[SPTUF J ÞŘJOFL /FKQSWF VTDIOPV B [IOŞEOPV CMJ[OZ CÓMÏ KFNOÏ DIPNÈŘLZ /ŞLUFżÓ MJEÏ TJ NZTMÓ äF Vä UZUP QBMJDF KTPV [SBMÏ "MF UP KF UFQSWF [BŘÈUFL %ÈMF VWJEÓUF WÓDF WâSB[OÏ äMÈ[Z UZ BMF OFKTPV KFÝUŞ ÞQMOŞ QMOÏ .VTÓUF QPŘLBU Bä CVEPV ÞQMOŞ KBL CBMØO 5P BMF OF[OBNFOÈ äF TBNPUOÏ QBMJDF KTPV KJä [SBMÏ /FTLMÓ[FKUF äÈEOÏ QBMJDF EPLVE OFKTPV BCTPMVUOŞ [SBMÏ /BLPOFD WZQBEBKÓ IMBWJŘLZ äMÈ[ ÞQMOŞ [BQMOŞOÏ /ŞLUFSÏ [ OJDI NƉäPV NŞOJU CBSWV [ KBTOÏ Bä L KBOUBSPWÏ OFCP QSƉTWJUOÏ 4FNFOÓLZ [B CMJ[OBNJ QżFUÏLBKÓ B QPLVE PCTBIVKÓ TFNFOB UBL KF KFKJDI WƉOŞ WFMNJ JOUFO[JWOÓ ėBT TLMJ[OŞ %SVIâN QSPCMÏNFN NƉäF CâU UP KBLâN [QƉTPCFN TLMBEVKFUF NBSJIVBOV .FUPEB LUFSPV KTUF [WPMJM QPNÈIÈ UPUJä CBLUFSJÈMOÓ EFHSBEBDJ KFNOâDI WƉOJ QSPUPäF TWÏ QBMJDF OFDIÈUF WF WMILÏN QSPTUżFEÓ CF[ QżÓTUVQV W[EVDIV /FDIUF QBMJDF VTDIOPVU W TUVEFOŞKÝÓN QSPTUPSV B UP T QżÓTUVQFN W[EVDIV 5FSQFOZ NPMFLVMZ WƉOŞ NBKÓ NBMÏ NOPäTUWÓ PEQBżPWBDÓDI CPEƉ /ŞLUFSÏ KTPV SZDIMF QSPNŞOMJWÏ QżJ OFCP TUVQOÓDI UBLäF TVDIÈ [JNB KF [BDIPWÈ +BLNJMF QBMJDF CVEPV EPTUBUFŘOŞ TVDIÏ OB LPVżFOÓ VMPäUF KF EP MFEOJŘLZ

3BJTFE #FE o KF TOB[ÝÓ OBQMOJU WFMLPV OÈESä [ MÈULZ OFä WZLPQBU EÓSV 6NÓTUŞUF OB NÓTUP B OBQMŵUF KJ [ÓTLÈUF UÓN LWBMJUOÓ [BISÈELV CF[ PIMFEV OB UP KBLÈ KF LWBMJUB [FNJOZ QPE UÓN

)PSLÈ WPEB QSP IZESPQPOJJ 1PUżFCVKJ TOÓäJU UFQMPUV WPEZ W NÏ MJUSPWÏ OÈESäJ 5FQMPUB WPEZ PCŘBT WZÝQMIÈ WâÝF OFä OBE TUVQŵƉ $FMTJB $P NÈN EŞMBU 'SPDLZ +BDL ĻFÝFOÓN WBÝFIP QSPCMÏNV KF BLWBSJTUJDLâ DIMBEJŘ LUFSâ PDIMB[VKF WPEV LUFSÈ TLS[F OŞK QSPUÏLÈ $IMBEJŘF QPVäÓWBKÓ OBEÝFODJ EP DIPWBUFMTUWÓ BCZ VESäFMJ TQSÈWOPV UFQMPUV W [ÈTPCOÓLV +TPV EPTUVQOÏ W PCDIPEFDI QSP DIPWBUFMF B OB JOUFSOFUV #ŞIFN DIMBEOÏIP QPŘBTÓ NƉäF CâU WPEB DIMB[FOB QSPVEŞOÓN TUVEFOÏIP W[EVDIV [ WFOLV [B QPVäJUÓ QSPCVCMÈWBŘF LUFSâ KF OBQÈKFO W[EVDIPWâN ŘFSQBEMFN QSP BLWB SJTUZ B żÓEÓ TF EJHJUÈMOÓN UFSNPTUBUFN LUFSâ KF UBLUÏä L EJTQP[JDJ W QSPEFKOÈDI QSP DIPWBUFMF OFCP OB JOUFSOFUV

ĻÓ[OVUÈ USÈWB 1PTMFEOŞ P WÓLFOEV KTFN TJ [BLPVżJM KFEOV USÈWV ;B NÏOŞ OFä QƉM IPEJOZ TF QSPKF WJMZ OÈTMFELZ DFMÏ NPKF UŞMP TF DVLBMP B NMÈUJMP LPMFN TFCF /FNŞM KTFN UVÝFOÓ DP TF EŞKF KFOäF KTFN T UÓN BOJ OFNPIM OJD EŞMBU /FEÈWOP KTFN NŞM QPEPCOÏ OÈTMF ELZ QżJ MÏLV QSPUJ CPMFOÓ IMBWZ 5BMXJO 3FBLDF [ USÈWZ USWBMB UÏNŞż IPEJO B CZMP UP PQSBWEV EŞTJWÏ 4MZÝFM KTUF Vä OŞLEZ P OŞŘFN UBLPWÏN OFCP NZTMÓUF äF CZMB UżFCB USÈWB OŞŘÓN żÓ[OVUÈ #SJBO .ZTMÓN äF USÈWB CZMB żÓ[OVUÈ KJOPV ESPHPV .ÈN TF[OBN BMFSHJDLâDI SFBLDÓ OB NBSJIVBOV BMF EPTVE KTFN P OJŘFN UBLPWÏN OFTMZÝFM 7ZQBEÈ UP äF J OBEÈMF NBSJIVB OV LPVżÓUF UBLäF UP CZMB QSBWEŞQPEPCOŞ KFEJOÈ [ÈMFäJUPTU .ƉK [ÈWŞS żÓ[OVUÈ USÈWB

7ÓDFPESƉEPWÈ NBULB ÇJKJ W NÓTUŞ LUFSÏ NÈ KJTUÏ MJNJUZ 5BLäF KF UV EPDFMB TMPäJUÏ QŞTUPWBU OŞLUFSÏ WBSJFUZ 1żFNâÝMFM KTFN KFTUMJ CZDI OFNPIM OBSPVCPWBU żÓ[LZ OŞLPMJLB SƉ[OâDI WBSJFU EP KFEJOÏ SPTUMJOZ TUPOLV TUFKOŞ KBLP SƉ[OÏ WBSJFUZ KBCMPOŞ 5BLUP CZDI NPIM VESäPWBU [BISÈELV T SƉ[OâNJ WBSJFUBNJ OB LUFSÏ CZ CZMB QPV[F KFEJOÈ SPTUMJOB )FSC %BJMZ .BSJIVBOB TF SPVCVKF PE MFU NJOVMÏIP TUPMFUÓ 0CWZLMF TF QPVäÓWÈ CVś PEOPä OFCP 7 ÝUŞQ 5P KTPV OFKŘBTUŞKÝÓ NFUPEZ SPVCPWÈOÓ /B :PV5VCF FYJTUVKF TQPVTUB WJEFÓ LUFSÏ VLB[VKÓ KBL TF SPTUMJOZ SPVCVKÓ B WâTMFELZ SPVCPWÈOÓ +BLP V WÝFDI SPVCPWÈOÓ żÓ[LZ EŞEÓ TWÏ WMBTUOPTUJ B OFKTPV UBL OJKBL QP[NŞOŞOZ 7âCŞS TQSÈWOÏIP TUPOLV KF EƉMFäJUâ +FEOB [ NPäOPTUÓ KF NMBEÈ SPTUMJOB [F TJMOÏIP IZCSJEV LUFSâ NÈ VNÓSOŞOPV WâÝLV

%WB SP[UPŘJ QżJTÈUÓ OB MJTUV GPUP [ $PVSUFTZ PG /BUVSFAT $POUSPM

;BTUżJIÈWÈOÓ TQPELƉ

(FOFSÈUPS [ÈQPSOâDI JPOUƉ OBCÓKÓ W[EVDI OFHBUJWOÓNJ JPOUZ LUFSÏ OFVUSBMJ[VKÓ NPMF LVMZ QBDIV WF W[EVDIV

%ÈWLPWÈOÓ W FBSUI CPYV

.ŞM CZDI LEZLPMJW VÝUÓQOPVU TQPEOÓ ŘÈTU SPTUMJOZ QŞTUPWBOÏ JOEPPS +BLâ KF OFKMFQÝÓ [QƉTPC BCZTUF [BKJTUJMJ UFO OFKOJäÝÓ TUSFT +BNFT

1PVäÓWÈN &BSUI #PY DPä KF HSPXCPY LOPUPWÏIP TUZMV 7PEB TF EPQSBWVKF QżÓNP TQPEFN CPYV B LPżFOZ B [FNJOB TJ CFSF WMÈIV QPEMF QPUżFCZ

/JäÝÓ ŘÈTU SPTUMJO UBN LEF TF SPTUMJOŞ OFEPTUÈWÈ TWŞUMB KF TQÓÝF QżÓUŞäLFN SPTUMJOZ QSPUPäF OFQSPEVLVKÓ äÈEOÏ DVLSZ B NVTÓ CâU QPEQPSPWÈOZ QSPEVLUJWOÓNJ MJTUZ LUFSÏ EPTUÈWBKÓ EPTUBUFL TWŞUMB

&BSUI #PY TF QSPEÈWÈ T äJWJOBNJ LUFSÏ QPMPäÓUF EP [FNJOZ W KFEOPN EMPVIÏN żÈELV QP QPWSDIV B UZ TF QPTUVQOŞ SP[QPVÝUÓ EP [FNJOZ ;EƉSB[ŵVKÓ äF TF OFNÈ QPVäÓWBU UFLVUÈ IOPKJWB B äF TF OFNÈ [BMÏWBU [F TIPSB /B DFMÏ PCEPCÓ SƉTUV QPV[F QPVäÓWBU TVDIÏ IOPKJWP

5ZUP OFPTWŞUMFOÏ MJTUZ NPIPV CâU PETUSBOŞOZ BOJä CZTUF UÓN VCMÓäJMJ SPTUMJOŞ 3PTUMJOŞ UP QPNƉäF KFMJLPä TF OFCVEF QMâUWBU KFKÓ FOFSHJÓ TOÓäÓ TF UÓN WMILPTU B WZUWPżÓ QSPTUPS QSP MFQÝÓ QSPVEŞOÓ W[EVDIV

&YJTUVKF MFQÝÓ [QƉTPC KBL EÈU SPTUMJOÈN äJWJOZ OFCP BMFTQPŵ OŞKBLÏ TVDIÏ IOPKJWP LUFSÏ KF MFQÝÓ OFä UP [ÈLMBEOÓ LUFSÏ TF EPEÈWÈ TQPMFŘOŞ T HSPXCPYFN

-JTUZ KF NPäOÏ PETUSBOJU QPNPDÓ OƉäFL ŘJ PTUSÏIP OPäF "CZTUF QżFEFÝMJ JOGFLDJ WZEF [JOGJLVKUF OÈTUSPKF QżFE QPVäJUÓN W BMLPIPMV

,EZä OBEFKEF ŘBT TLMJ[OŞ KBL CZDI NŞM QPTUVQPWBU QżJ QSPŘJÝƃPWÈOÓ UPIPUP TZTUÏ NV +F UP WƉCFD NPäOÏ OFCP QPUżFCB 'FSSJT 4

&YUSÏNOŞ QP[EOÓ WâTBECB $P CZ TF TUBMP LEZCZDI TFNÓOLB NBSJIVBOZ WZTBEJM Bä LPMFN TSQOB "ä EP MJTUP QBEV V OÈT OFKTPV äÈEOÏ NSB[ÓLZ B QBOVKF UV WFMNJ TMVOFŘOÏ QSPTUżFEÓ +PF & ;ÈMFäÓ OB WBSJFUŞ 4FNFOÓLZ JOEJLZ [BŘOPV IOFE TÓMJU B [ƉTUBOPV WFMNJ NBMÏ )ZCSJEZ TBUJWZ JOEJLZ QPSPTUPV WFMNJ NÈMP B [BŘOPV LWÏTU OFKEżÓWF PLPMP QƉMLZ [ÈżÓ 5Z KF NPäOÏ TLMJEJU LF LPODJ żÓKOB 4BUJWB QPSPTUF WÓDF EP QSPTUPSV B EP GÈ[F LWŞUV QżJKEPV Bä LF LPODJ [ÈżÓ 4LMÓ[FU KF CVEF NPäOÏ OB [BŘÈULV MJTUPQBEV

6ä KTUF [BQMBUJM QżÓQMBUFL LEZä KTUF TJ PCKFEOBM CPY UBLäF CZTUF NŞM WZVäÓU [OBMPTUÓ B [LVÝFOPTUÓ WâSPCDF 7âSPCDF NÈ [ÈKFN BCZTUF CZM T WâSPCLFN TQPLPKFO o QPLVE TF WÈN MÓCÓ NPäOÈ TJ LPVQÓUF EBMÝÓ OFCP IP EPQPSVŘÓUF [OÈNâN 1PLVE CZ NŞM WâSPCDF OŞKBLÏ TVQFS TMPäFOÓ WâSPCLV SÈE CZ TF T WÈNJ P OŞK QPEŞMJM UBL BCZTUF EPTÈIM KFÝUŞ WŞUÝÓIP ÞTQŞDIV /FNZTMÓUF äF CZTUF NŞM OFKQSWF [LVTJU WâSPCFL UBL KBL TF QÓÝF W NBOVÈMV BCZTUF WJEŞM KBL NPD UP GVOHVKF /FDIUF CPY EŞMBU TWPV QSÈDJ /FQżFNâÝMFKUF P [NŞOŞ IOPKJWB EPLVE KTUF IP OFWZ[LPVÝFM B EPLVE OFOBTUBMZ äÈEOÏ QSPCMÏNZ

1P[EOÓ TLMJ[OŞ KTPV WFMNJ OFKJTUÏ 1PŘBTÓ TF NŞOÓ [ UFQMFKÝÓIP OB DIMBEOŞKÝÓ JOUFO[JUB TMVODF TF TOJäVKF B [WZÝVKF TF ÝBODF äF WBÝF QBMJDF [OJŘÓ EÏÝƃ "CZTUF NŞM BMFTQPŵ USP DIV LPOUSPMV OBE UÓN KBL QŞTUVKFUF EPQPSVŘVKJ WZVäÓU TLMFOÓLV OFCP QżFOPTOâDI ÝUÓUƉ 1PLVE CVEFUF LPOUSPMPWBU UFQMPUV WMILPTU B TWŞUMP WZQŞTUVKFUF TJ [ESBWŞKÝÓ SPTUMJOV LUFSÈ WÈN QżJOFTF NOPIFN WŞUÝÓ SBEPTU [F TLMJ[OŞ

1SPUÈIOVUÏ SPTUMJOZ 1ŞTUVKJ SPTUMJOV WF TLżÓOJ B [ OFEPTUBULV TWŞUMB TF NJ WZUÈIM TUPOFL 5BL KTFN QżJEBM WÓDF TWŞUMB B OZOÓ KF SPTUMJOB W QPżÈELV #VEF TDIPQOÈ TF TQSBWJU TBNB B QPLSBŘPWBU W [ESBWÏN SƉTUV OFCP KF UV OŞKBLÈ NPäOPTU KBL CZDI KJ NPIM QPNPDJ 5FE ,MFOCB Vä QSPWFEMB QżFDIPE [ OÓ[LÏ JOUFO[JUZ OB WZÝÝÓ JOUFO[JUV TWŞUMB .ƉäF UP CâU UŞäLÏ PCEPCÓ QSPUPäF MJTUZ LUFSÏ TF WZUWPżJMZ BCZ ŘFMJMZ QPENÓOLÈN OFEPTUBUFŘOÏIP TWŞUMB TF NVTÓ OZOÓ QżJ[QƉTPCJU OPWâN QPENÓOLÈN 7âTMFELFN KF TUPOFL LUFSâ KF Þ[Lâ B QSPUBäFOâ QSPUPäF TF TOBäÓ QPEQPżJU LMFOCV SPTUMJOZ OFä BCZ TF VQFWŵPWBM TWPV TÓMV 4UPOFL CZ NŞM EPTUBU QPEQPSV QPVäJUÓN LPMÓLV OFCP QPEQƉSOâN LSPVäLFN 5BLUP UŞäLÏ QBMJDF OF[MPNÓ TUPOFL ŘÓNä CZ EPÝMP L QżFSVÝFOÓ QżÓTVOV WPEZ B äJWJO

7PMOâ QSPVE W[EVDIV KF KFEOPV [ WâIPE [CBWFOÓ TF OFQPUżFCOÏIP QPSPTUV 7ZUWÈżÓ TF NÏOŞ WMILPTUJ B OFQSPEVLUJWOÓ MJTUZ Vä EÈMF [CZUFŘOŞ OFTQPUżFCPWÈWBKÓ FOFSHJJ SPTUMJOZ

*HE

UXQQ %

XVNR

R 5DN %

H

D VWU

LH

,QGXVWU

REURYVNì YìEďU ]QDĀNRYìFK SURGXNWĪ YtFH QHç Pò SURGHMQt SORFK\ YHONì SDUNRYLåWď 9DSR /RXQJH 'ULYH ,Q $UHD

ZZZ EXVKGRFWRU DW

;QŞU OB NÓTUŞ ŘJOV +F UP Vä WÓD OFä SPL OFCP Vä EWB DP TNF TF TUBWJMJ OB ÇJäLPWŞ W HSPXTIPQV B OBQTBMJ P UPN SFQPSUÈä %BMÝÓ WŞD KF äF KF QżFE OÈNJ W EPCŞ LEZ UP ŘUFUF BTJ J [B OÈNJ QSWOÓ NF[JOÈSPEOÓ LPOPQOâ WFMFUSI DBOOBCJ[[ D[ B HSPXTIPQ D[ KF IMBWOÓN ŘFTLâN QBSUOFSFN )F[LZ KTNF TJ UP QżJQSBWJMJ BMF KBL Vä UP OB ÇJäLPWŞ DIPEÓ LMVDJ SP[UPŘJMJ NBHJDLâ NMâOFL B WÝF CZMP ÞQMOŞ KJOBL .ÈN PCBWV äF EPÝMP L MFILÏNV QPÝLP[FOÓ NP[LV TOBE EPŘBTOÏNV B UBL UBEZ NÈUF UPS[P TLWŞMF OBQMÈOPWBOÏIP B T WFMLâN OBTB[FOÓN SFBMJ[PWBOÏIP SP[IPWPSV KFTUMJ TF UPNV DP QSPCŞIMP EÈ żÓLBU SP[IPWPS

1BO 4 KFEFO [ NBKJUFMƉ HSPXTIPQV PENÓUM PEQPWÓEBU OB PUÈ[LZ LUFSÏ CZMZ W NJOVMÏN SP[IPWPSV OB SP[EÓM PE OÈT TJ KF QBNB UPWBM ŘÓNä OÈT MFIDF SP[IPEJM B UBL KTNF TÈIMJ QP PUÈ[LÈDI LUFSâNJ KTUF OÈT [BQMBWJMJ QP QSWOÓN ŘMÈOLV #ZMP WÈT TQPVTUB DP KTUF DIUŞMJ OŞDP WŞEŞU B OŞLUFSÏ [ WÈT UPIP [BKÓ NBMP EPLPODF WÓD UBLäF

7âSPCDƉ IOPKJW KF WÓD B WÓD QPEMF ŘFIP TF PSJFOUVKFUF KBL WZCÓSÈUF KBLÏ [OBŘLZ CVEFUF QSPEÈWBU B KBLÏ OF ,EZä UP KEF UBL TF TOBäÓNF OFQSPEÈWBU QPEżBEOÏ LPQJF 1PLVE OŞLEP OŞDP TLWŞMÏIP WZNZTMÓ UBL TF OÈN NPD OFDIDF QPEQPSPWBU WZNSEB DP UP KFO [LPQÓSV KF B QPETUżFMÓ DFOV UP CZ QBL [B DIWÓMJ OJLEP OJD OFWZMFQÝPWBM B KFO LPQÓSPWBM B EŞMBM MFWOŞKJ ;OBŘLZ LUFSÏ NÈNF KTPV MÏUZ QSPWŞżFOÏ IWŞ[EZ QPWŞTUOÏ TWPV LWB MJUV B TLWŞMâNJ WâTMFELZ ;ÈLMBE OBÝFIP TPSUJNFOUV UWPżÓ EWŞ TSEDPWÏ [ÈMFäJUPTUJ o "EWBODFE )ZESPQPOJDT B 1MBHSPO 4QPMVQSBDVKFNF T OJNB PE QPŘÈULV B NÈNF T OJNJ TLWŞMÏ PTPCOÓ W[UBIZ /B SP[EÓM PE KJOâDI TF L OÈN OFDIPWBMJ KBLP L QØWMV [ WâDIPEV BMF OBPQBL TF OÈN TOBäJMJ NBYJNÈMOŞ QPNPD TWâNJ WŞEPNPTUNJ LPOUBLUZ [LVÝFOPTUNJ

; OBÝFIP QPIMFEV KF EWPVTMPäLPWÏ IOP KJWP MFQÝÓ OFä KFEOPTMPäLPWÏ B USPKTMPäLPWÏ MFQÝÓ OFä EWPVTMPäLPWÏ QSPUPäF VNPäŵVKF EÈU SPTUMJOŞ WäEZ QżFTOŞ UP DP QPUżFCVKF B MBEJU äJWOâ SP[UPL EMF BLUVÈMOÓ TJUVBDF #PNCB CZMB äF KTNF TF NPIMJ QPEÓMFU OB WâWPKJ OP TQÓÝF CZDI żFLM OB UFTUPWÈOÓ B MBEŞOÓ żBEZ ") /BUVSBM QPXFS LPN QMFUOÓ żBEZ CJPMPHJDLâDI EPQMŵLƉ /BWÓD 'JOBM TPMVUJPO CZMB WƉCFD QSWOÓ QSƉQMBDIPWâ SP[UPL OB TWŞUŞ 1MBHSPO NŞM B NÈ QPWŞTU CJPMPHJDLÏ ŘJ PSHBOJDLÏ GJSNZ T WFMNJ LWBMJUOÓNJ QSPEVLUZ 4SBOEB CZMB äF TF 1MBHSPO EżÓW PSJFOUPWBM OB ÞQMOŞ KJOÏ PEWŞUWÓ W [FNŞEŞMTUWÓ HPMG [BISB EZ TLMFOÓLZ BMF QSPEVLUZ CZMZ OBUPMJL LWBMJUOÓ äF TJ L OJN QŞTUJUFMÏ OBÝMJ DFTUV B QżFUÈIMJ GJSNV EP HSPXFSTUWÓ ,WBMJUOÓ TVCTUSÈUZ Bä [È[SBŘOŞ GVOLŘOÓ EPQMŵLZ B PSHBOJDLÈ IOPKJWB UJN OÈT QżFTWŞEŘJMJ /BÝJ [ÈLB[OÓDJ TJ SÈEJ ISBKÓ B [LPVÝÓ B UBL

NÈNF TBNP[żFKNŞ W OBCÓEDF J EBMÝÓ GJSNZ )ZQSP o PTPCOÓ TFULÈOÓ T UWƉSDFN "NOF[JB )B[F OÈT QżFTWŞEŘJMP WÓD OFä EPTU OBWÓD UP KTPV MFWOÈ IOPKJWB T KFEOPEVDIâN EÈW LPWÈOÓN )FTJ TF [È[SBŘOâN 4VQFSWJUFN "UBNJ W UÏ EPCŞ OFKQSPQSBDPWBOŞKÝÓN NBS LFUJOHFN B żBEPV EPQMŵLƉ " TBNP[żFKNŞ UBLÏ $BOOB QSWOÓ B OFKWŞUÝÓ GJSNB W OBÝFN CZ[OZTV " OFKFO UP żBEB #JPDBOOB T NF[JOÈSPEOÓN DFSUJGJLÈUFN CJPLWBMJUZ KF TOBE UP OFKMFQÝÓ QSP CJPQŞTUJUFMF

+BL KF UP TF TFNÓOLBNB +BL UP äF TF DFMPV EPCV OFQSPEÈWBMJ B UFś UP OBKFE OPV M[F /FCP KBL UP WMBTUOŞ KF 1PQSBWEŞ żFŘFOP UPNV UBLZ UBL ÞQMOŞ OFSP[VNÓN 3P[EÓM NF[J OPWâN B TUBSâN [ÈLPOFN PIMFEOŞ TFNÓOFL NPD OFOÓ 1PEMF OFPGJDJÈMOÓDI WZKÈEżFOÓ QPMJDJF B TUB OPWJTFL QSÈWOÓLƉ OFKTPV TFNFOB LPOPQÓ QżÓNP W [ÈLPOV WZKNFOPWBOÈ B QSPUP QPE OŞK OFTQBEBKÓ ėJTUŞ QSPEFK TFNFO CZ UFEZ OFNŞM CâU USFTUOâ /B ESVIPV TUSBOV DP WBEÓ ŘJ CZ NPIMP WBEJU CF[QFŘOPTUOÓN PSHÈOƉN EÈMF KFO PSHÈOƉN KF OBWÈEŞOÓ L QŞTUPWÈOÓ QSPQBHBDF WZTPLÏIP PCTBIV 5)$ B OBSLPUJ[VKÓDÓDI ÞŘJOLƉ #Vś KBL CVś KF UP LBäEPQÈEOŞ TJUVBDF MFIDF OBIPW OP /JLEP WÈN OFEÈ KBTOÏ WZKÈEżFOÓ B KBTOÏ QPENÓOLZ OJLEP UP OFNÈ OB TUBSP TUJ /BÝF TUBOPWJTLP KF KBTOÏ QSPEÈWÈNF TFNFOB QSP TCŞSBUFMTLÏ ÞŘFMZ OFżFÝÓNF B OFQSPQBHVKFNF PCTBI ŘJ QżÓQBEOÏ ÞŘJOLZ B OFOBCÈEÈNF L QŞTUPWÈOÓ /FQSPEÈWÈNF UBLZ NMBEÝÓN MFU BMF UP KF BTJ OŞDP OBWÓD 7ZCSBMJ KTNF TJ TUFKOŞ KBLP V IOPKJW B WBQÓLƉ UZ OFKMFQÝÓ [ EBOÏIP PCPSV B UZ DP NBKÓ OŞDP WâKJNFŘOÏIP ŘJ TQFDJÈMOÓIP 4FOTJ TFFET OFKTUBSÝÓ B OFKWŞUÝÓ TFNFOOÈ CBOLB /BWÓD NBKÓ W OBCÓEDF UP OFKWÓD DP KF NPNFOUÈMOŞ OB TWŞUŞ L EJTQP[J DJ (SFOIPVTF TFFET TQFDJBMJTUB OB )B[F B UWƉSDF TQPVTUZ IB[F WBSJFU 0TPCOŞ QżFEQPWÓEÈN )B[ƉN WFMLPV CVEPVDOPTU BMF [żFKNŞ UP CVEF P OŞDP QP[EŞKJ OFä KTFN ŘFLBM %VUDI QBTTJPO QSWOÓ CBOLB DP [BŘMB QSPEÈWBU GFNJOJ[PWBOÈ TFNFOB 3PZBM RVFFO TFFET OFKÝJSÝÓ OBCÓELB BVUPGMPXFSJOHƉ B PVUEPPSƉ B TQPVTUB EBMÝÓDI [BKÓNBWâDI PESƉE 1BSBEJTF TFFET UV TNF W[BMJ EÓLZ OBÝJN QP[JUJWOÓN [LVÝFOPTUFN B OB QżÈOÓ [ÈLB[OÓLƉ

$P HSPXTIPQ B WBQPSJ[BDF ;KJTUJMB KTFN TJ äF KTUF CZMJ QSWOÓ LEP EP ėFDI QżJUÈIM WBQPSJ[BDJ 1SPŘ WMBTUOŞ KBL TUF OB UP QżJÝMJ UP WÈN Vä CSLB OFTUBŘJMJ "CZDI QSBWEV żFL EƉWPEƉ CZMP OŞLPMJL #ZMJ KTNF W UÏ EPCŞ NMBEâ [WÓEBWâ B TOBäJMJ TF WZ[LPVÝFU LBäEPV OPWJOLV B [BKÓNBWPV WŞD 5SPÝLV BLUJWJTUJDLZ TNF UBLZ DIUŞMJ

OBQBEOPVU KFEFO [ IMBWOÓDI BSHVNFOUƉ PEQƉSDƉ IVMFOÓ LPVżFOÓ ÝLPEÓ [ESBWÓ B QSPUP KF UP ÝQBUOÏ 1PLVE CZ ÝMP JOIB MPWBU [ESBWŞ TQPVTUB PEQƉSDƉ CZ TLMB QMB B OBWÓD OFNPDOÓ MJEÏ CZ OBKFEOPV NŞMJ NPäOPTU OFÝLPEOÏ BQMJLBDF 5BLZ OÈN CZMP KBTOÏ äF QPLVE OŞLEZ ŘBTFN EPKEF L QPWPMFOÓ QŞTUPWÈOÓ DFTUB QPWFEF QżFT NFEJDÓOTLÏ WZVäJUÓ /FKEżÓWF VNPäOÓ QŞTUPWÈOÓ OFNPDOâN B QBL TOBE WÝFN "TQPŵ UBL TNF TF OB UP LPVLBMJ 4QPKJMJ KTNF TF T 'SBOLFN [ "SPNFEV LUFSâ TF UÏUP QSPCMFNBUJDF WŞOVKF EFTÓULZ MFU B DP TF UâLÈ MÏLBżTLÏIP WZVäJUÓ NÈ TOBE OFKWŞUÝÓ [LVÝFOPTUJ /BWÈ[BMJ LPOUBLU T 7PMDBOFN B OFKWŞUÝÓ IWŞ[EPV UÏ EPCZ "JS o WâSPCDFN 7BQJSV 7BQJS CZM TUSBÝOŞ OBÝMÈQMÈ GJSNB CZMP WJEŞU äF KTPV [ 64" QSPQSBDPWBOâ EFTJHO EJHJUÈMOÓ WâSPCFL WFMLÏ QMÈOZ EP CVEPVDOB BSPNB MÈ[OŞ B UFSBQJF EBMÝÓ HFOFSBDF WBQPSJ[ÏSƉ

ÝLPEB äF UP WÝFDIOP QPTUVQOŞ WZÝVNŞMP 0TPCOŞ TFN TJ OFKWÓD PCMÓCJM "SPNFE LEZä TFN [ OŞK QPQSWÏ JOIBMPWBM CZM UP ÞQMOâ SJUVÈM B OF[BQPNFOVUFMOâ [ÈäJUFL /BW[EPSZ PŘFLÈWÈOÓ TF OFKQSPEÈWBOŞKÝÓN OFKPCMÓCFOŞKÝÓN WBQPSJ[ÏSFN TUBM 7PMDBOP "TJ QSPUP äF KF UÏNŞż OFSP[CJUOâ B äF TJ MJEJ QPTÓMBKÓ OBGPVLMFK CBMØOFL NÓTUP CSLB

1SPUPäF W UÏ EPCŞ WBQPSJ[ÏSZ NPD MJEÓ OF[ OBMP B LEZä Vä [OBMP UBL IMBWOŞ [ EPTMF DIV OFCP NŞMJ NBYJNÈMOŞ [LVÝFOPTUJ T IPSLPW[EVÝOPV QJTUPMÓ DPä KF NJNPDIP EFN TUSBÝOâ QFLMP [BżBEJMJ TNF WBQP SJ[ÏSZ EP LPODFQUV OBÝFIP TUÈOLV T LUFSâN PCKÓäEÓNF GFTUJWBMZ 7ZUWPżJMJ KTNF 7BQPSUFBN QżJQSBWJMJ QSPQBHBŘOÓ B PTWŞUPWÏ NBUFSJÈMZ B WZSB[JMZ EP UFSÏOV 1SPUPäF OFKTNF ÞQMOâ NBHPżJ UBL TNF IVMFOÓ OBISBEJMJ MÏŘJWâNB B KJOBL [BKÓNBWâ NB CZMJOLBNB ,BäEâ BTJ WÓ KBL DIVUOÈ NÈUB LEZä KÓ BMF PDIVUOÈUF [ WBQPSJ[ÏSV JOUFO[JUB B IMPVCLB DIVUŞ WÈT ÞQMOŞ PISPNÓ 1PUÏ DP KTNF EP QSF[FOUBDF [BQPKJMJ CZMJOV PCTB IVKÓDÓ äFOTLÏ BGSPEJTJBLVN TUBMB TF QSÈDF WF WBQPSUFBNV WZTPDF QSFTUJäOÓ [ÈMFäJUPTUÓ OBKFEOPV TF IMÈTJMJ WÝJDIOJ LMVDJ [ UâNV

BLP QPENÓOLV TNF TJ TUBOPWJMJ äF CVEFNF QSPEÈWBU KFO LWBMJUOÓ B QSPWŞżFOÏ WBQPSJ [ÏSZ [B LUFSÏ TF OFCVEFNF NVTFU TUZEŞU 5BLPWâ LWBMJUOÓ WBQPSJ[ÏS BMF OŞDP TUPKÓ 1żJÝMP OÈN TVQFS BCZ TJ MJEJ QżFE UBLPWPV JOWFTUJDÓ NPIMJ WBQÓLZ WZ[LPVÝFU B WZCSBU TJ UFO TQSÈWOâ B UBLZ TNF DIUŞMJ VLÈ[BU äF OFQSPEÈWÈNF [BKÓDF OFCP LPŘLV W QZUMJ UBL TNF [BWFEMJ QƉKŘPWOV WBQPSJ[ÏSƉ /BWÓD LEZä TJ [ÈLB[OÓL WBQPSJ[ÏS QP WZ[LPVÝFOÓ LPVQJM UBL OFQMBUJM QƉKŘPWOÏ (SPXTIPQƉ KTPV W ėFDIÈDI EFTÓULZ LEZä QPNJOV UP äF WŞUÝJOV [ OJDI [ÈTPCVKFUF [CPäÓN KBL TF TOBäÓUF

PEMJÝJU PE LPOLVSFODF $P EŞMÈUF MÓQ KJOBL W ŘFN TUF MFQÝÓ 5Z KP UP KF UBLPWÈ GÏSPWÈ PUÈ[LB BMF CVEJä TLSPNOPTU TUSBOPV WFN UVäLV B QJÝ TJ 0E [BŘÈULV QSFGFSVKFNF LWBMJUV .ÈNF EPDFMB PCTÈIMâ NBOVÈM QP OBÝF QSPEBWBŘF B QSBWJEFMOŞ KF ÝLPMÓNF +BLP KFEOJ [ NÈMB OB TWŞUŞ ÝLPMÓNF QSPEBWBŘF J QSP PTUBUOÓ HSPX TIPQZ +TNF W QżÓNÏN LPOUBLUV T OBÝJNJ EPEBWBUFMJ B LBäEPV OPWJOLV [LPVÝÓNF B TOBäÓNF TF QPDIPQJU EP OFKNFOÝÓIP EFUBJ MV 1SPWP[VKFNF KJä OŞLPMJL MFU TMVäCV 0TPCOÓ [BISBEOÓL QPSBEÓNF LBäEÏNV TF WÝÓN T LPOLSÏUOÓN QSPCMÏNFN T DFMâN QSPKFL UFN ÞQMOâN [BŘÈUFŘOÓLƉN TF WÝÓN " LEZä UP OF[WMÈEOFNF UBL TF TOBäÓNF żFÝFOÓ OBKÓU EÈMF WPMÈNF EP [BISBOJŘÓ TIÈOÓNF OBÝF [OÈNÏ OB [FNŞEŞMTLÏ ŘJ UFDIOJDLÏ VOJWFS[JUŞ 1SP NJNPQSBäTLÏ B UŞäDF QSBDV KÓDÓ KTNF [BWFEMJ TPCPUOÓ PUWÓSBŘLV ŘJ [BWÈäLZ QP 1SB[F B PLPMÓ 1PLVE UPIP QPUżFCVKFUF WÓD NƉäFUF TJ [BKFU QżÓNP EP OBÝFIP QSP EFKOÓIP WFMLPTLMBEV W -FUŵBOFDI QPLVE DIDFUF KFO ESPCOPTU QPÝMFNF WÈN KJ EP IPEJO [ OBÝFIP FTIPQV "CZTNF CZMJ OBÝJN [ÈLB[OÓLƉN CMÓäF B UBLZ BCZTNF TF MFIDF WZWFOŘJMJ KF[EÓNF T OBÝÓN TUÈOLFN OB WÝFDIOZ IMBWOÓ ŘFTLÏ GFTUJWBMZ 1SF[FOUBDF OPWJOFL OB QŞTUPWÈOÓ QSPEFK LVżÈDLâDI WZDIZUÈWFL B OÈÝ WBQPSUFBN .ZTMÓN äF KFTUMJ OFNÈUF EPNÈDÓ WŞ[FOÓ VSŘJUŞ KTUF OÈT Vä OŞLEZ QPULBMJ /BWÓD TWŞUMP [ OBÝFIP IPNFCPYV WZUWÈżÓ UBLPWPV QŞLOPV PÈ[V LMJEV B NÓSV B CBMFOÓ VQSPTUżFE GFTUJWB MPWÏIP CPSEFMV "CZTNF QPEQPżJMJ LVMUVSV B LPNVOJUV TOBE UP OF[OÓ KBLP PE ŘFSOâIP SBQFSB [ 64" [ LUFSÏ TNF W[FÝMJ B LEF TF QPIZCVKFNF QPEQPSVKFNF TQPVTUV IVEFCOÓDI B LVMUVSOÓDI BLDÓ 1SP OBÝF [ÈLB[OÓLZ OBWÓD [BKJÝƃVKFNF QSPEFK MÓTULƉ CF[ QPQMBULƉ BCZ VÝFUżJMJ B NPIMJ UP UBN QBL QSPLBMJU

/PWJOLPV TPV TPVUŞäF P WPMOÏ DFOZ B EBMÝÓ DFOZ OB GBDFCPPLV

,BäEâ SPL EŞMÈNF NFHBLBMCV QSP [WBOÏ OBÝF LÈNPÝF B [ÈLB[OÓLZ W QSBäTLÏN -VDFSOB NVTJD CBSV +BLP UBLPWPV USPÝLV SFDFTJ J LSPL WTUżÓD OBÝJN LMJFOUƉN KTNF WZUWPżJMJ QSWOÓ ŘFTLPV CPOHPUÏLV OŞDP KBLP WJOPUÏLB Bä OB UP äF T CPOHBNB QSPTUŞ KJDI UBN NÈNF TUSBÝOŞ NPD

/B DP KTUF WF TWÏN PCPSV QZÝOÓ B DP TF WÈN QPWFEMP /P UBL UBIMF PUÈ[LB Vä TNSEÓ GBLU NPD $FOÓNF TJ WFMJDF OBÝÓ TQPMVQSÈDF TF [BISBOJŘÓN 5P äF T OÈNJ WFMLÏ IPMBOETLÏ GJSNZ LPO[VMUVKÓ WâWPK OPWâDI QSPEVLUƉ KF Vä TBNP P PTPCŞ QSP OÈT WFMLâN PDFOŞOÓN 1SBIB NÈ QPWŞTU "NTUFSEBNV WâDIP EV QżÓDIP[Ó DJ[JODJ KTPV ŘBTUP Bä OFNJ MF [BTLPŘFOJ LWBMJUPV ŘFTLâDI WâQŞTULƉ B TOBE KTNF L UPNV UBLZ MFIDF QżJTQŞMJ /P B UP äF KTNF PGJDJÈMOÓN QBSUOFSFN QSW OÓIP NF[JOÈSPEOÓIP LPOPQOÏIP WFMFUSIV W QPTULPNVOJTUJDLâDI [FNÓDI KF UBLZ EPTU

0DQXIDFWXUHG E\ %LR%L]] :RUOGZLGH %9 7 ) ( LQIR#ELREL]] FRP : ZZZ ELREL]] FRP +\GURSRQLF V U R &LPEXUNRYD 3UDKD &]HFK 5HSXEOLF 7 ) ( LQIR#K\GURSRQLF F] : ZZZ K\GURSRQLF F]

.21231ë 9(/(75+ .21*5(6 ([SR 3\UDPLGD 9tGHĖ 5DNRXVNR

ZZZ FXOWLYD DW

ėBTPQJT 4PGU 4FDSFUT IMFEÈ

FYUFSOÓ BVUPSZ UFYUƉ B OPWJOÈżF 1HMREOtEHQėMåt ĀDVRSLV R PDULKXDQė 6RIW 6HFUHWV NWHUì MH VRXĀDVQė QHMYėWåt QD VYėWė VWiOH KOHGi QRYp WDOHQW\ 9 VRXĀDVQp GREė PiPH ]iMHP R H[WHUQt DXWRU\ NWHʼnt VH VSHFLDOL]XMt QD QiVOHGXMtFt RERU\ SRĀtWDĀRYp KU\ D Y\EDYHQt ILOP\ D NLQR NULPLQiOQt ]SUDYRGDMVWYt NXOWXUD D çLYRWQt VW\O /tEt VH 7L VYėW 6RIW 6HFUHWV D P\VOtå VL çH 7L MGH SVDQt" 9 WRP SʼntSDGė QiV NRQWDNWXM H PDLOHP D P\ VH 7L R]YHPH 3RåOL QiP çLYRWRSLV V XNi]NDPL VYp GRSRVXG SXEOLNRYDQp ĀLQQRVWL QD VVXN#VRIWVHFUHWV QO SDQ &OLII &UHPHU

-H WʼnHED XPėW GREʼnH SViW YH VYpP URGQpP MD]\FH D NRPXQLNRYDW Y DQJOLĀWLQė 6RIW 6HFUHWV MH VYėWRYRX MHGQLĀNRX PH]L SXEOLNDFHPL R PDULKXDQė NWHUì XĀt PLOLRQ\ OLGt MDN ML VSUiYQė SėVWRYDW

.Vä LUFSâ QżFTUBM IVMJU )VMJM KTFN EMPVIP B IVMJM KTFN IPEOŞ ;BŘBM KTFN LEZä NJ CZMP ;QPŘÈULV UP CZMZ QżFWÈäOŞ WFOFŘLZ TBNPUOÏ CF[ UBCÈLV ,PVżFOÓ CZMP WäEZ TQPKFOP T QPTF[FOÓN T QżÈUFMJ W PCMÓCFOÏN CBSV .VTÓN żÓDU äF KTNF TF IPEOŞ NPD OBTNÈMJ ĻFÝJMJ KTNF OFVWŞżJUFMOâ LSBWJ OZ o OBQżÓLMBE KBL TPVMPäÓ ÝLFCMF 7ZNâÝMFMJ KTNF KJN SƉ[OÏ QPMPIZ QżFETUBWPWBMJ KTNF TJ KBL TF V UPIP UWÈżÓ OFCP KBL TF ÝLFCMÈL QMB[Ó QP EOŞ B WZCÓSÈ TJ UV OFKIF[ŘÓ IPMLV OB WFŘFS 5ÏNBUB CZMB OFWZŘFSQBUFMOÈ ,EZä KTNF IVMJMJ WŞUÝJOPV KTNF QJMJ OFBMLP ;BUP KTNF [LPO[VNPWBMJ LPQFD TMBELPTUÓ B TPVTFEOÓ SFTUBVSBDF [ OÈT UBLZ NŞMB SBEPTU 4DIÈ[FMJ KTNF TF OŞLPMJLSÈU UâEOŞ B KÈ KTFN TJ NZTMFM äF Vä UP UBL QƉKEF DFMâ äJWPU .S +PTF

MJÝŘÈUFL o WÝJDIOJ OBQSPTUP SFÈMOâ )PSÝÓ UP CZMP EPNB LEF Vä OÈEJWLB CZMB TUSÈWFOÈ DFMÈ 7âQSBWB OB MVMÈOÓ CZMB EPCSPESVäOPV DFTUPV OF[OÈNPV LSBKJOPV "TJ QƉM IPEJOZ KTFN INBUFN IMFEBM LPMFN QPTUFMF TWPKF QBOUPGMF 3VŘLPWÈOÓN QP [EFDI KTFN OBÝFM EWFżF OB [ÈDIPE B T ÞMFWPV KTFN TF QPTBEJM OB TQSÈWOÏ NÓTUP 1PIMFE OB [FN NOF USPDIV QżFLWBQJM QSPUPäF KTFN ŘVNŞM EP OFLPOFŘOÏIP WÓSV LUFSâ LPOŘJM BTJ OŞLEF W QFLMF #ÈM KTFN TF WTUÈU BMF OBLPOFD KTFN UP SJTLOVM %P WÓSV KTFN OFTQBEM %PSVŘLPWBM KTFN EP QPTUFMF B PLBNäJUŞ VTOVM

4 QPTUVQFN ŘBTV QżJDIÈ[FMB NFOÝÓ [NŞOB ;BŘBMP TF PCKFWPWBU TUÈMF WÓDF QPEMBNQPWFL 1BSÈEB o UP KF UFQSWF ÞMFU 0CŘBT TF OŞLEP [IVMJM UBL äF KFOPN OFQżÓUPNOŞ LPVLBM QżFE TFCF B ŘFLBM Bä UP USPDIV QPMFWÓ ,EZä CZMP OŞLPNV [MF UBL TF T OÓN OŞLUFSâ [ NÏOŞ [NBÝUŞOâDI QSPCŞIM LPMFN CMPLV 4SBOEB CZMB QPżÈE OÈSBNOÈ 5V B UBN TF W OBÝÓ QBSUJŘDF PCKFWJM OPWâ LBNBSÈE OŞLPIP [ OÈT 4FEM TJ B [BIVMJM TJ T OÈNJ 4 OBEÝFOÓN KTNF PŘFLÈWBMJ DP UP T OÓN VEŞMÈ /JLEZ KTNF OFCZMJ [LMB NBOÓ ;OÈUF UP LEZä TF QSWOŞ [IVMÓUF BOJ OFWÓUF äF KTUF [IVMFOÓ 7ÝFDIOP WÈN QżJKEF ÞQMOŞ OPSNÈMOÓ "LPSÈU äF WÓD LFDÈUF NÈUF USPDIV TLMFOŞOâ PŘJ B QBEBKÓ [ WÈT WŞDJ OB LUFSâ CZTUF OPSNÈMOŞ OFQżJÝMJ 4LWŞMÏ LJOP QSP UZ LUFżÓ KTPV [IVMFOÓ OŞLPMJLSÈU [B UâEFO 5BLZ KTFN [BäJM OŞLPMJL KFEJODƉ LUFżÓ TF OÈN TNÈMJ B żÓLBMJ i+È UP KFEOPV [LVTJM

)VMFOÓ TF TUBMP OFEÓMOPV TPVŘÈTUÓ NÏIP äJWPUB )VMJM KTFN LBäEâ EFO B IVMJM KTFN SÈE +F UP MFQÝÓ OFä BMLPIPM /FDIÈQV QSPŘ UP OFOÓ MFHÈMOÓ ,BGF KF UBLZ ESPHB B OJLEP IP OF[BLB[VKF +Ø UP LEZCZDI KÈ NPIM SP[IPEPWBU P [ÈLPOFDI UBL USÈWB CVEF QPWPMFOÈ OBUPUBUB UB UB UB UB )VMJMP CZ TF WF WMÈEŞ J OB NF[JOÈSPE OÓ ÞSPWOJ /FCZMZ CZ QżFDF WÈMLZ ,EP CZ TF DIUŞM T OŞLâN QSÈU LEZä TJ UBL CÈKFŘOŞ SP[VNÓ TF ÝQFLFN W SVDF 5SÈWB KF QSPTUŞ HFOJÈMOÓ WZOÈMF[ ;BKÓNBMP CZ NŞ KBL OB UP ŘMPWŞL QżJÝFM ;LPVÝFM TVÝJU B IVMJU UBLZ LPQżJWZ $P LEZä EÈWBKÓ KFÝUŞ WÓD OFä USÈWB +F Vä WZ[LPVÝFOâ WÝFDIOP DP TF EÈ LPVżJU .PäOÈ KTNF TF [BTUBWJMJ V LPOPQÓ B EÈM Vä TF OÈN OFDIUŞMP o v/JD MFQÝÓIP Vä BTJ OFOBKEF NFi żÓLBMJ TJ OBÝJ QSBQżFEDJ

B TF NOPV UP OJD OFEŞMÈ i *OV UV NÈÝ [BIVM TJ T OÈNB B VWJEÓÝ 1P QƉM IPEJOŞ OÈN OBQSPTUP WZQÈMFOÈ PTPCB QPUWS [PWBMB v7JEÓÝ KÈ WÈN żÓLBM äF TF NOPV UP OJD OFEŞMÈ i )VSØOTLâ TNÓDI B EBMÝÓ CSLP "ƃ TF UFEZ [IVMÓ EP OŞNPUZ TOBE TJ QBL WÝJNOF äF KF ÞQMOŞ OB LBÝJ +JTUŞ WÓUF äF USÈWB B IBÝJÝ TF EBKÓ LPO[V NPWBU OFTQPŘUFN [QƉTPCƉ +PJOUZ WPEOÓ EâNLZ KPJOUZ QżFT 1&5 MÈIFW LVMJŘLB IBÝJÝF QPE TLMFOJŘLPV GBKGLZ BUE /FK[ÈMVEOŞKÝÓ [QƉTPC KF PWÝFN HBOKB W KÓEMF 1żJÝFM KTFN EP OBÝFIP CÈSV P WFMJLPOPDÓDI /B TUPMF OÈEJWLB .JMVKV KJ v+Ï WZ NÈUF OÈEJWLV i żÓLÈN v+BTOâ EFK TJ i %BM KTFN TJ #ZMB NPD EPCSÈ %BM KTFN TJ KFÝUŞ EWB LPVTLZ +Ø NŞM KTFN TJ WÝJNOPVU QPUVUFMOâDI ÞTNŞWƉ LBNBSÈEƉ "MF Vä CZMP QP[EŞ +BLNJMF UP TOÓÝ Vä TF UP OFEÈ [BTUBWJU .ŞM KTFN TMVÝOâ IBMV[OZ 1żFT DFTUV NJ V IMBWOÓIP OÈESBäÓ QżFCŞIMB MJÝLB [B OÓ TFEN NBMâDI

'È[F EWŞ

7ÝJDIOJ IVMÓ "MFTQPŵ KÈ NÈN UFO QPDJU QSPUPäF LPMFN NŞ IVMÓ BTJ WÝJDIOJ 4UÈMF

ŘBTUŞKJ TJ CBMÓN CSLB T UBCÈLFN )VMJN WÝVEF B LEZLPMJW ,BäEÏ TFULÈOÓ LBäEÈ OÈWÝUŞWB LBäEÈ BLDF LBäEâ WâMFU LBäEâ EFO [BŘÓOBKÓ UÓN äF TF VCBMÓ CSLP 7 QPETUBUŞ KTFN [IVMFOFK QPżÈE %ŞMBKÓ UP UBL WÝJDIOJ B KF UP QBSÈEB /FEPWFEV TJ QżFETUBWJU äF CZDI OFIVMJM ,EZä KF OFEPTUBUFL IVMFOÓ WäEZDLZ TF OBKEF OŞLEP LF LPNV TF EÈ [BKFU B EÈU TJ EP ÝQFLB OŞKBLâ [CZULZ 7 OPV[J OFKWZÝÝÓ QSPIMFEÈWÈN LSBCJŘLZ LPVLÈN QPE HBVŘ B IMFEÈN OŞKBLÈ TNÓULB LUFSÈ CZ TF EBMB KFÝUŞ [IVMJU 4NŞKV TF TÈN TPCŞ ,EZCZ NJ OŞLEP WJEŞM KBL QSPIMFEÈWÈN LPCFSFD BTJ CZ TJ żFLM v5FO NÈ EPTU i ,EZLPMJW BMF NƉäV T IVMFOÓN QżFTUBU /FOÓ UP OÈWZLPWâ KBLP UWSEâ ESPHZ "LPSÈU TF NJ QSPTUŞ QżFTUBU OFDIDF 1SPŘ UBLZ o EÈ TF OB UPN OPSNÈMOŞ GVOHPWBU )VMJN W QSÈDJ IVMJN W BVUŞ IVMJN QPżÈE 4 CSLFN KF äJWPU W QPIPEŞ )PSÝÓ KF UP OB EPWPMFOâ QSPUPäF [ÈTPCZ OB UâEFO TF OŞKBL CS[Z WZŘFSQBMZ EOZ CF[ IVMFOÓ o EÈ TF UP WZESäFU BMF Vä TF UŞÝÓN EPNƉ

'È[F 5BL Vä OŞLPMJL MFU IVMÓN QSWOÓ MJHV 0CŘBTOâ BOJ OBEQSƉNŞSOâ IVMJŘ TF NOPV OFVESäÓ LSPL BOJ QżJ QSWOÓN ÝQFLV #BNCÈSB KTPV ŘÓN EÈM UŞäÝÓ B OB DFTUŞ LPMFN TUPMV TF V NOF [ESäVKÓ EÏMF )FTMP v/JLEZ OFIVM TÈNi Vä EÈWOP W[BMP [B TWÏ -JEÏ LUFżÓ OFIVMÓ NJ QżJKEPV OVEOâ ,EZä KTFN W KFKJDI TQPMFŘOPTUJ ŘBTUP TF WZUSÈDÓN OB DIWJMLV WFO 0CŘBT CBMÓN CSLP WF TQPMFŘOPTUJ UŞDI LUFżÓ UP OJLEZ OF[LVTJMJ 1żJKEF NJ DFMLFN OPSNÈMOÓ äF CZ NŞM IVMJU LBäEâ /BCÓ[ÓN KJN EBKÓ TJ QÈS QSÈTLƉ B [QSBWJEMB PEQBEOPV ÀLPEB NPIMJ KTNF TJ QŞLOŞ TQPMFŘOŞ QPIVMPWBU B WZNâÝMFU LSBWJOZ 5SÈWB KF CPNCBTUJDLÈ o OJLEZ OFQżFTUBOV

'È[F ŘÓTMP 4FULÈOÓ T LBNBSÈEFN LUFSâ WäEZ CZM WF TUFKOÏ IVMJŘTLÏ MJ[F #BMÓN QPżÈEOPV USVNQFUV VLPKÓN TWÏ DIVUŞ B QPEÈWÈN LÈNPÝPWJ v%ÓL KÈ TJ OFEÈN i żÓLÈ WZSPWOBOŞ v$PäF i ;BŘBM NJ WZQSÈWŞU äF KFEOPIP EOF TJ UBL OŞKBL VWŞEPNJM äF KF QPżÈE [IVMFOFK /BQBEMB IP [BKÓNB WÈ NZÝMFOLB v+BL WMBTUOŞ WZQBEÈ TWŞU LEZä [IVMFOFK OFKTFN i /ŞKBL TF UP UÏ QżFETUBWZ [BQFLM OFCP DP B SP[IPEM TF äF TJ EÈ QBV[V "MF OF UBLPWPV UV QBV[V LUFSÏ NF[J NâNJ LBNBSÈEZ żÓLÈNF v3BNBEÈOi EOÓ CF[ ÝQFLB 3P[IPEM TF äF WZESäÓ OFKNÏOŞ NŞTÓD 7ZESäFM UP NOPIFN EÏMF 4MPWB NÏIP LBNBSÈEB NJ OŞKBLPV EPCV MFäFMB W IMBWŞ v+BL WMBTUOŞ WZQBEÈ TWŞU LEZä [IVMFOFK OFKTFN i 5âEFOOÓ 3BNBEÈO KTFN QSBLUJLPWBM WFMNJ [żÓELB 7äEZ KTFN BMF WŞEŞM äF Bä UP TLPOŘÓ EBN TJ [BTF CSLP " DP WÓD 1P UBLPWÏ QBV[F NJ QŞLOŞ PETUżFMÓ ÇJWPU KF ISB KFKÓä [ÈLMBEOÓ QSBWJEMP KF äF OFNÈ äÈEOÈ QSBWJEMB 4UÈU TF NƉäF LEZLPMJW DPLPMJW .PäOÈ Vä KTUF TJ OŞLPMJLSÈU żÓLBMJ äF TF LPMFN WÈT EŞKÓ WŞDJ LUFSÏ WÈN NBKÓ OŞDP żÓDU OFCP OŞLBN OBTNŞSPWBU 7 äJWPUŞ QżJDIÈ[FKÓ PCEPCÓ NOPIBŘFUOâDI [NŞO LUFSÏ UPUÈMOŞ [BNÓDIBKÓ LBSUBNJ B WZ OBKFE OPV NÈUF QPDJU äF NVTÓUF [NŞOJU UBL UJLV ISZ 3P[IPEM KTFN TF PETUŞIPWBU [ NŞTUB OB WFOLPW .ÈN SÈE QżÓSPEV DIDJ NÓU WÓDF TPVLSPNÓ B OBWÓD NJ QżJKEF äF TUPKÓN OB KFEOPN NÓTUŞ ,BäEâ WFŘFS OŞLEF WZTFEÈWÈN SÈOP EP QSÈDF [ QSÈDF [B [ÈCBWPV B UBL QPżÈE EPLPMB +FTUMJäF NJ EMPVIPV EPCV QżJQBEBMP äF UBLIMF DIDJ QSPäÓU DFMâ äJWPU UBL OBKFE OPV UP CZMP ÞQMOŞ KJOBL

1żJDIÈ[Ó TJHOÈMZ [BŘÓOÈ TF UP MÈNBU o GÈ[F 7FOLPW KF CPNCB .BLÈN OB TUBSPCZMÏN CBSÈLV LUFSâ KTFN WZNŞOJM [B NŞTUTLâ CZU ėBTUP TF WSBDÓN EP NŞTUB B T QżFLWBQFOÓN [KJÝƃVKJ äF TF WMBTUOŞ IMFEÈN 1żJUPN Vä KTFN CZM QżFTWŞEŘFOâ äF WÓN DP DIDJ B IMBWOŞ LEP KTFN o QPIPEÈż IVMJŘ B ŘMPWŞL LUFSâ KF WZWPMFOâ L EPTBäFOÓ WZÝÝÓDI DÓMƉ 4FEÓN WF TWÏN CBSÈŘLV B QżFTOŞ WÓN DP WÝFDIOP CZDI NŞM VEŞMBU /Fä [BŘOV EBN TJ CSLP #SLP KF WZIVMFOâ B KÈ UBLZ 1PŘLÈN Bä UP USPÝLV PQBEOF +BLNJMF UP [BŘOF PQBEÈWBU EPTUÈWÈN IMBE 5BL OFä TF WSIOV EP QSÈDF UBL TF KFÝUŞ OBKÓN +ÓEMP ŘMPWŞLB USPÝLV VOBWÓ " DP KF OFKMFQÝÓ QP KÓEMF 1PżÈEOÈ SBLFUB 5BL TJ KJ VCBMÓN B QBL TF OB UP WSIOV +P KP IVMFOÓ KF QBSÈEB ,EZä KTFN UBL QŞLOŞ [NBÝUŞOFK BOJ TF NJ OFDIDF OJD EŞMBU o QPŘLÈN Bä UP USPDIV PQBEOF +FKEB OFNŞM CZDI TJ EÈU KFÝUŞ QÈS QSÈTLƉ OFä TF WSIOV EP QSÈDF "TJ KP .PäOÈ [OÈUF UFO WUÓQFL P UPN IVMJŘJ LUFSâ TFEÓ QżFE EPNFN IVMÓ KFEOP CSLP [B ESVIâN B EJWÓ TF DP KF UP [B PIOJWPV LPVMJ LUFSÈ UBL SZDIMF MÏUÈ QP OFCJ PE WâDIPEV L [ÈQBEV o BOP KF UP TMVODF %OZ VUÓLBKÓ B NPKF QMÈOZ OB OPWâ äJWPU T OPWPV QSBDÓ W OPWÏN QSPTUżFEÓ WJTÓ W PCMBLV IVTUÏIP EâNV LPMFN NÏIP HBVŘF +TFN QPQSWÏ [BSFHJTUSPWBOâ OB QSBDPWOÓN ÞżBEV o QPEQPSV NÈN

TMVÝOPV QSPUPäF KTFN WZEŞMÈWBM TMVÝOâ QFOÓ[F o PWÝFN WF NŞTUŞ .Ï QPEOJLB UFMTLÏ QMÈOZ TF OŞKBL OFDIUŞKÓ TBNZ [SFB MJ[PWBU B CZMP CZ [BQPUżFCÓ BCZDI QSPUP OŞDP VEŞMBM ;BŘÓOÈN NÓU QPDJU äF KTFN TJ VLSPKJM WFMLâ LSBKÓD o PQSBWPWBU CBSÈL VESäPWBU [BISBEV B KFÝUŞ SP[KÓäEŞU CZ[ OZT 1żÈUFMÏ UPMJL WŞDÓ OBKFEOPV 5P BCZDI TJ EBM CSLP OFä TF OB UP WSIOV " OBKFEOPV NJ [BŘÓOÈ QżJQBEBU äF KTFN TMBCPDI /FDIDF TF NJ W[EÈWBU QżFTVO OB WFTOJDJ B WSBDFU TF UBL LEF KTFN [KJTUJM äF NƉK äJWPU TUPKÓ OB NÓTUŞ ĻÓLÈN TJ äF TF OŞDP NVTÓ TUÈU BCZDI TF USPDIV SP[QP IZCPWBM 7[QPNOŞM KTFN TJ OB UP KBL NƉK LBNBSÈE żÓLBM äF DIUŞM [LVTJU KBLÏ UP KF CF[ IVMFOÓ B OB KFEOV EBMÝÓ WŞD LUFSPV W IVMJŘTLÏN CBSV QSPIMÈTJM DDB MFUâ DIMBQÓL v)VMJU TJ NƉäF EPWPMJU UFO LEP Vä NÈ WÝFDIOP IPUPWâ i %PEOFT TJ UVIMF WŞUV QBNBUVKJ QSPUPäF UP KF KFEOB [ OFKWŞUÝÓDI QSBWE P IVMFOÓ ,PVLÈN OB TFCF KBL TFEÓN OB HBVŘJ B IVMÓN KFEOP CSLP [B ESVIâN ;BŘÓOÈN CâU TÈN OB TFCF OBÝUWBOâ v.ŞM CZDI BTJ QżFTUBU IVMJU i żÓLÈN TJ " CBMÓN EBMÝÓ USVNQFUV

1SWOÓ TUPQLB o GÈ[F "VUPTVHFTDF GVOHVKF 1żÈM KTFN TJ BCZ TF TUBMP OŞDP DP CZ NJ OBLPQMP L WŞUÝÓ BLUJWJUŞ 4UBMP TF 1P KFEOPN CSLV OB NŞ QżJÝFM OFQżÓKFNOâ TUBW Þ[LPTUJ .ŞM KTFN QPDJU äF TF VEVTÓN EPTUBOV JOGBSLU OFCP TF SP[TLPŘÓN OB LVTZ ;BIOBM KTFN UP NBOVÈMOÓ QSBDÓ %BMÝÓ CSLP KTFN TJ BMF QÈS IPEJO OFEBM 4UBW BMF USWBM KFO DIWJMJOLV B EBMP TF UP WZESäFU o ŘBT OB EBMÝÓ [FMFOPV MBIƉELV Á[LPTU QżJÝMB [BTF o PQŞU [BIÈOÓN QSBDÓ BMF EBMÝÓIP KPJOUB Vä TJ UFO EFO OFEÈN %SVIâ EFO KFEV EP NŞTUB ;BIVMÓN TJ T LÈNPÝFNB +TFN W QPIPEŞ WŘFSB UP CZM KFO OŞKBLâ ÞMFU ;ƉTUÈWÈN WF NŞTUŞ EP ESVIÏIP EOF B QŞLOŞ TF WZQÈMÓN 7SBDÓN TF EPNƉ BMF NÈN TLVUFŘOŞ TUSBDI TJ VCBMJU KPJOUB P TBNPUŞ o QSWOÓ WZOV DFOâ 3BNBEÈO 1P UâEOV QBV[Z TJ żÓLÈN äF CZDI UP NPIM WZESäFU J EÏMF o CVEV IVMJU KFOPN WF TQPMFŘOPTUJ 7[QPNÓOLB OB OFQżÓKFNOPV Þ[LPTU WF NOŞ BMF [ƉTUÈWÈ B QBV[B TF QSPUÈIMB Bä OB KFEFO NŞTÓD 7âTMFELZ BCTUJOFODF QżJDIÈ[FKÓ WFMNJ SZDI MF ;BŘÓOÈ TF NJ WSBDFU NPKF QżJSP[FOÈ ŘJOPSPEPTU o LPOFŘOŞ TF [BŘBMP OŞDP EÓU .ŞTÓD CF[ IVMFOÓ 1PIPEB Vä TJ LMJEOŞ NƉäV [BIVMJU +FEV EP NŞTUB NÓżÓN EP USBEJŘOÓIP CBSV B CBMÓN KPJOUB ;BIVMÓNF T LÈNPÝFNB 1BOFŘLV 1P NŞTÓDJ UP KF UFQSWF OÈżF[ "MF DP UP .ÈN OŞKBLâ QPDJU WJOZ OFCP DP B WƉCFD TJ UP OFVäÓWÈN UBL KBLP EżÓW "TJ T UÓN ÞQMOŞ TFLOV %BMÝÓ LPMP TJ Vä [ KPJOUB OFQPUÈIOV

/ÈWSBU EP QSWOÓ MJHZ o ÝƃBTUOÈ TFENJŘLB 1ƉM SPLV Vä OFIVMÓN " LEZä żÓLÈN OFIVMÓN UBL NÈN OB NZTMJ UP äF WƉCFD OFIVMÓN 1FDLB OF /PSNÈMOŞ TF TUâLÈN T MJENJ KBLP QżFEUÓN BMF OFIVMÓN ;F [BŘÈULV WÝJDIOJ LPVLBKÓ KFTUMJ KTFN UP PQSBWEV KÈ ,EZä KEF CSLP QżFT NƉK GMFL QSPTUŞ IP WF[NV EP SVLZ B QPEÈN EÈM /JLPNV TWPV BCTUJOFO DJ OFIMÈTÓN BMF WŞUÝJOB TJ WÝJNOF )PSÝÓ UP KF LEZä L OŞLPNV QżJKEV EPNƉ B TFEÓNF UBN TBNJ ,BäEÈ CŞäOÈ OÈWÝUŞWB [BŘÓOBMB

UÓN äF KTNF EBMJ CSLP "MF DP UFś #SLP TJ [LSÈULB EBM KFOPN KFEFO [ OÈT o KF UP USP DIV EJWOâ BMF QżFDF TQPMV OFLBNBSÈEÓNF KFOPN QSPUP äF NÈNF TQPMFŘOâ LPOÓŘFL /JDNÏOŞ OFKŘBTUŞKÝÓN UÏNBUFN KF UP KFTU MJ KFÝUŞ OŞLEZ [BŘOV IVMJU ;BŘBM KTFN .ÈN SÈE IBÝJÝ BMF EMPVIP KTFN OB OŞK OFOBSB[JM 1P QƉM SPDF BCTUJOFODF KTFN BMF VDÓUJM KFIP WƉOJ B OFPEPMBM KTFN 4LWŞMF KTFN TF WZIVMJM B [KJTUJM äF IBÝJÝ OB NŞ OFNÈ WƉCFD äÈEOÏ OFHBUJWOÓ WMJWZ o CZMP NJ TLWŞMF #ŞIFN KFEOPIP KFEJ OÏIP NŞTÓDF KTFN IVMJM KBLP EżÓW BLPSÈU äF KTFN [FMFOÏ QBMJDF WZNŞOJM [B IOŞEÏ LPVMF B QMBDLZ /B UP äF KTFN OFIVMJM KTFN TLPSP [BQPNOŞM 5FOUP TDÏOÈż TF PQBLPWBM KFÝUŞ EWBLSÈU o QƉM SPLV KTFN IVMJM QSWOÓ MJHV QƉM SPLV BOJ QSÈTLB

'JOÈMF KF UBEZ 5SÈWV KTFN [BŘBM IVMJU QSPUP äF KTFN TF QP OÓ DÓUJM EPCżF B CBWJM KTFN TF TLWŞMF 7[IMFEFN L QPTUVQOÏNV LSÈDFOÓ JOUFSWBMƉ NF[J ÝQFLZ KTFN TJ BOJ OFWÝJNM äF UPNVUP LPOÓŘLV QPEżJ[VKJ ŘÓN EÈM UÓN WÓD WŞDÓ 1SP[żFM KTFN WF DIWÓMJ LEZ KTFN TFEŞM OB HBVŘJ B ŘVNŞM OB ÝVNBWTLÏ LPQFŘLZ /JLPMJW ÞQMOŞ "ä OFQżÓKFNOÏ TUBWZ Þ[LPTUJ NJ VQP [PSOJMJ OB UP äF DIDJ PE äJWPUB USPDIV WÓD /ÈTMFEOÏ QżFTUÈWÈOÓ B [BŘÓOÈOÓ T IVMFOÓN NJ VLÈ[BMP äF QSPTUŞ OFKTFN

UFO UZQ LUFSâ CZ UVUP MÈULV EPWFEM VäÓWBU KFO PCŘBT B W SP[VNOÏN NOPäTUWÓ ,EZä OB TUPMF MFäÓ QPTMFEOÓ QBMJŘLB SP[EŞMVKÓ TF IVMJŘJ OB EWŞ TLVQJOZ 1SWOÓ TLVQJOB DIDF VCBMJU KFEOP QPżÈEOâ CBNCÈSP ESVIÈ CZ UP SBEŞKJ SP[MPäJMB EP UżÓ BCZ CZMP DP IVMJU KFÝUŞ QP[EŞKJ +È KTFN CZM WäEZ QSP KFEOP QPżÈEOâ /FVNŞM KTFN [LSÈULB IVMJU KFO UBL SFLSFBŘOŞ " QSPUP UFś OFIVMÓN WƉCFD $FMâDI EFWŞU MFU KTFN IVMJM UBL KBLP LEZ CZDI TJ EBM [B ÞLPM [MJLWJEPWBU WÝFDIOP IVMFOÓ OB TWŞUŞ 5żJ SPLZ KTFN TLÈLBM [ FYUSÏNV EP FYUSÏNV 5Fś Vä OFIVMÓN SPLZ 4UÈMF QPULÈWÈN MJEJ LUFżÓ UPNV OFNPIPV VWŞżJU .OPIFN WÓD BMF QPU LÈWÈN UŞDI LUFżÓ TF NJ QUBKÓ KBL KTFN UP VEŞMBM o BTJ CZ UBLZ DIUŞMJ QżFTUBU BMF LBäEâ NÈ TWPKÓ WMBTUOÓ DFTUV ,BäEÏNV SÈE żFLOV KBL L UPNV EPÝMP V NŞ BMF OJLPNV OFNƉäV QPSBEJU KBL QżFTUBU "OJ L UPNV OJLPIP OFOVUÓN 4 LÈNPÝFNB IVMJŘFNB TF TUâLÈN EÈM o WäEZDLZ TJ NÈNF P ŘFN QPLFDBU J CF[ CSLB .VTÓN TF QżJ[OBU äF [B UZ SPLZ KTFN TJ EBM BTJ QSÈTLƉ BMF JIOFE KTFN TF WäEZ QżFTWŞEŘJM äF UBIMF DFTUB QSPTUŞ OFOÓ UPV NPKÓ 1PTMFEOÓIP ŘPVEB KTFN NŞM WÓDF OFä QżFE SPLFN B Vä BOJ OFNZTMÓN OB UP äF CZDI TJ IP OŞLEZ EBM [OPWV "MF LEP WÓ %MPVIP KTFN CZM QżFTWŞEŘFOâ äF OJLEZ IVMJU OFQżFTUBOV 5WSEJU äF Vä OJLEZ OF[BŘOV CZ NPIM CâU WâTNŞDI PTVEV B KFO #ƉI WÓ KBL CZ UP NPIMP EPQBEOPVU

'FNJOJTUJDLÏ 2VFFS QPSOP

%JSUZ %JBSJFT $IMÓQOÏ [ÈQJTLZ

1SPCÓIBMB QPMFNJLB B OFCZMP KÓ NÈMP UâLBKÓDÓ TF UżJOÈDUJ LSÈULPNFUSÈäOÓDI QPSOP TOÓNLƉ SFäÓSPWBOâDI ÀWÏELPV .JPV &OHCFSH ;EÈ TF äF KTPV PCTDÏOOÓ QżÓMJÝ VNŞMFDLÏ B DP KF [F WÝFIP OFKIPSÝÓ GJOBODPWBOÏ [ QFOŞ[ EBŵPWâDI QPQMBUOÓLƉ %7% OB LUFSÏN CVEPV [B[OBNFOÈOZ CVEF CS[P L EJTQP[JDJ 5FYU "SKBO WBO 4PSHF /FOÓ NPäOÏ TF EJWJU UPNV äF KF [B UÓN NOPIFN WÓDF TLVUFŘOŞ .JB &OHCFSH OFOÓ [ UŞDI LUFżÓ CZ TF CÈMJ QPLżJLPWÈOÓ W QSPNÓUBDÓN TÈMF OFCP CZ VOJLBMJ QżFE QVCMJDJUPV +FEOÈ TF P UZQJDLâ GJMN RVFFS VOEFSHSPVOEGJMNFS QPTFEMâ LPODFQDFNJ KBLP NPD QPIMBWÓ B TPDJÈMOÓ OFSPWOPTU 4QPMFŘOŞ T OF[ÈWJTMPV QSPEVLŘOÓ BHFO UVSPV 4FYZ 'JMN WZSÈCÓ B QSPEÈWÈ FSPUJDLÏ GJMNZ RVFFS B UBLZ ISBKF OB CBTV W IBSEDP SPWÏ GFNJOJTUJDLÏ TLB TLVQJOŞ 7FMLÈ WBHÓ OB 3P[IPEOŞ KF UP äFOB LUFSÈ LPOUSPWFS[J QżÓNP WZIMFEÈWÈ

4 NPCJMOÓN UFMFGPOFN 1żFE MFUZ WZQSPEVLPWBMB LSÈULPNFUSÈäOÓ GJMN $PNF 5PHFUIFS QSP GJMNPWâ GFTUJ WBM WF 4UPDLIPMNV KEF P äFOZ LUFSÏ TF CŞIFN NBTUVSCBDF OBUÈŘFKÓ QPNPDÓ NPCJMV 0IMBT CZM QżFWÈäOŞ OFHBUJW OÓ BMF UP KF ÞQMOÈ WPEB OB NMâO .JJ &OHCFSH v5BLPWÏUP SFBLDF KFO EPLB[VKÓ äF KTNF EPTVE V[BWżFOÓ WF TUBSPNØE OÓN [QƉTPCV NZÝMFOÓ QPEMF LUFSÏ äFOTLÈ TFYVBMJUB NVTÓ VTQPLPKJU DIPVULZ UPIP LEP KJ QP[PSVKF OF KÓ TBNPUOÏ i 1PEMF OFKSP[ÝÓżFOŞKÝÓDI SFBLDÓ UÏNŞż WÝFDI WZDIÈ[FKÓDÓDI PE NVäƉ CZM DFMâ

QSPKFLU FTUFUJDLZ PEQPSOâ äFOZ OFCZ MZ EPTUBUFŘOŞ OBMÓŘFOÏ EPLPODF J W PLBNäJLV NBYJNÈMOÓ SP[LPÝF

.JY +FÝUŞ MÏQF 0QUJNÈMOÓ EƉWPE QSP EWBOÈDU QPSOP GJMNƉ WZUWPżFOâDI VNŞMLZOŞNJ SFäJTÏSLBNJ B GFNJOJTUJDLâNJ BLUJWJTULBNJ LUFSÏ PTPCOŞ WZCSBMB .JB &OHCFSH BCZ CZMZ T KFKÓN $PNF 5PHFUIFS LPSVOPWÈ OZ ÞTQŞDIFN 1PENÓOLPV CZMP äF IFSDJ CVEPV QMOPMFUÓ äF T OBUÈŘFOÓN CVEPV TPVIMBTJU B äF WÝF TF CVEF OBISÈWBU QPV[F NPCJMFN OF EÏMF KBL QBUOÈDU NJOVU 7âTMFELFN KF TNŞT IBSEDPSV TPGUDPSV VNŞOÓ BLUJWJTNV FYIJCJDJPOJTNV B TBEP NBTP USWBKÓDÓ NJOVU

4LJO /BQżÓLMBE WF GJMNV 'MBTIFS (JSM 0O 5PVS TF WZ[âWBWŞ PCMFŘFOÈ äFOB MBTLÈ OB [BTUÈWDF W QBSLV OB UBYÓLV 0CWZLMF TF FYIJCJDJPOJTUÏ [BUâLBKÓ QSP NOP IFN NFOÝÓ QżFTUVQLZ BMF UÏUP äFOŞ TF QPEBżJMP LEPWÓ KBL UPNV VOJLOPVU 7F GJMNV #SPXO $PDL [NJ[Ó SVLB VWOJUż äFOTLÏIP PSHÈOV W "VUIPSJUZ QPVäÓWÈ KJTUâ QPVMJŘOÓ VNŞMFD QPMJDJTULV KBLP

QPQFMOÓL OFDIÈWÈ KJ PMJ[PWBU CPUZ B QFOFUSBDJ QSPWÈEÓ QFOESFLFN 'JMN 4LJO OÈN VLB[VKF EWŞ PCMFŘFOÈ UŞMB QSPQMF UFOÈ WF WFMJDF FSPUJDLâDI BLUFDI LUFSÈ TF QPTUVQOŞ VWPMŵVKÓ [ KFKJDI OBENÓSV QżJMÏIBWâDI LPNCJOÏ[ W QP[BEÓ T WFMNJ WâTUJäOâN ÞSZWLFN PE #PTUPO #PZT +F UBN UPIP TLVUFŘOŞ QSP WÝFDIOZ

.BOJGFTU 7 TPVMBEV T OFKLMBTJŘUŞKÝÓ TLBOEJOÈWTLPV USBEJDÓ KTPV GJMNZ EPQSPWÈ[FOZ NBOJGF TUFN LUFSâ WÈN UÓNUP QżFELMÈEÈNF KTNF LSÈTOÏ UBLPWÏ KBLÏ KTNF CPCVKUF [B TWÏ QSÈWP OB 7BÝF TFYVÈMOÓ UPVIZ IPEOÈ äFOB KF ÝQBUOÈ äFOB CPK LBQJUBMJTNV B QBUSJBSDIÈUV KTNF DIMÓQOÏ B [LBäFOÏ KBL TF OÈN [BDIDF CF[QMBUOâ B MFHBMJ[PWBOâ QPUSBU KF MJET LÏ QSÈWP CPKVKUF QSPUJ TLVUFŘOÏNV OFQżÓUFMJ CVśUF RVFFS QSPWP[VKUF CF[QFŘOâ TFY EŞMFKUF UP EPNB

/PWÈ GPSNB ÀWÏETLâ GJMNPWâ JOTUJUVU 4'* GJOBODP WBM %JSUZ %JBSJFT W IPEOPUŞ QƉM NJMJPOV ÝWÏETLâDI LPSVO QżJCMJäOŞ FVSP /F WÝJDIOJ T UÓN CZMJ TQPLPKFOJ CZMP żFŘFOP äF vOPSNÈMOÓi QPSOPHSBGJDLâ QSƉNZTM OJLEZ OFEPTUBM TFUJOV [ UŞDIUP EPUBDÓ B QSPUP UFEZ QFOÓ[F QPVäJUÏ OB WâSPCV %JSUZ

"NFSJDLÈ IWŞ[EB +B 3VMF NÓżÓ EP ėFDI LEF PETUBSUVKF 3ZUNVT TWPKF UVSOÏ

+B 3VMF W OBÝÓ LPUMJOŞ 6ä [B OFEMPVIP B UP żJKOB TF KFEFO NBMâ CPE OB NBQŞ SP[[ÈżÓ IWŞ[EOâNJ KNÏOZ %P ESVIÏIP OFKWŞUÝÓIP NŞTUB KJäOÓDI ėFDI o 5ÈCPSB KBLP KFEJOÏIP W ėFTLÏ SFQVCMJDF QżJKFEF BNFSJDLÈ TVQFS TUBS +" 36-& *UAT .63%&3 */$ OB BLDJ T USBEJDÓ TF KNÏOFN (SFFO4IPQ 5IF )JQ )PQ OP 4WÏ WZTUPVQFOÓ QżFEWFEF W

LMVCV .JMÏOJVN 4WÏ UVSOÏ [EF PETUBS UVKF 3ZUNVT B SPWOPV V UPIP TUJIOF J QSFNJÏSV OPWÏIP LMJQV [B QPEQPSZ 5JOZ T &HFN B "OZTFN +BL W 5ÈCPżF UBL J OB UVSOÏ VWJEÓNF EBMÝÓIP JOUFSQSF UB B UP %BWJEB 4UFFMB T QPEQPSPV 3O# IMBTV 5PNB .BMÈSB LUFSâ [EF QPLżUÓ TWÏ BMCVN v4DPSQJPOi B VWFEF TWƉK OPWâ LMJQ v.VSDJFMBHP SBQi 0O WÝBL OFCV EF KFEJOâ LEP QPLżUÓ BMCVN &M /JOP TF TWâN BMCFN v"TTPDJBMi B EBMÝÓ QSF NJÏSPV OPWÏIP LMJQV OFCVEF DIZCŞU /B LPODFSUŞ EÈMF WZTUPVQÓ ,BMJ WFMNJ OBEŞKOâ TMPWFOTLâ JOUFSQSFU LUFSâ TUFKOŞ KBLP WÝJDIOJ WZTUVQVKÓDÓ LMBEF EƉSB[ OB QSBWEJWâ TNZTM UFYUƉ +BLP MBIPEOPV ŘÈTU WFŘFSB TJ CVEFUF NPDJ WZDIVUOBU 3VEV [ 0TUSBWZ J T .BSUJOPV 1ÈSUMPWPV 0EQPMFEOF OB 7ÈT CVEF ŘFLBU QSPHSBN QżÓNP QżFE LMVCFN PE TF TOPX CPBSEPWPV SBNQPV KBLP 4OPXCPBSE 4LJ +*## +BN 5ÈCPS T .POUBOB (SBGGJUJ KBNFN QSP XSJUUFSƉ %05; 5VOJOH LPVULFN T WZDIZUBOâNB LÈSBNB B EPQMŵLBNB TUÈO LZ T PCŘFSTUWFOÓ QJUÓN %KFN B EBMÝÓ LPQPV

LSBWJO [EBSNB LEF TF NƉäF [ÞŘBTUOJU ÞQMOŞ LBäEâ B WZISÈU IPEOPUOÏ DFOZ 7FŘFS TF OB (SFFO4IPQ )JQ )PQ 4UBHFJ WZTUżÓEBKÓ WâÝF [NÓOŞOâ BMF UP OFOÓ WÝF 5PNCPMB [B LŘ UFOUPLSÈU T WâIFSOÓ NJ UJLFUZ QżÓNP V TUÈOLV B IMBWOÓ WâISPV TQFDJÈMOÓ QSPKFLDF T QSFNJÏSPWâNJ LMJQZ QPVMJŘOÓ EÈSFŘLZ B QBOÈLZ QSP QSWOÓ QżÓDIP[Ó [EBSNB TPVUŞäF P [CSBOŞ HBOHƉ T %JSUZ %PH B UBLÏ CFBUCPY PE WSBIB #FMMJUB %SVIâ QPEJVN CVEF WŞOPWÈOP UBODJ T IZQFN PE 4NBDLB *HPSB KBLP )BWBOB BOE 3PDB8FBS #VMMFU 5JNF (SJNF %VCTUFQ 4UBHF 7 QPEÈOÓ SBQFSB +B 3VMF [B[OÓ IJUZ KBLP i5IF 3FJHOw i.FTNFSJ[Fw i"MXBZT 0O 5JNFw i$BVHIU 6Qw i#PEZw i$MBQ #BDLw B TQPVTUV EBMÝÓDI %BWJE 4UFFM &M /JOP T OPWâNJ QFDLBNJ ,BMJ B 5JOB QSWOŞ W KJäOÓDI ėFDIÈDI 3ZUNVT W QMOÏ TIPX UBL OB UPIMF WÝF TF NƉäFUF UŞÝJU W 5ÈCPżF B UP W MJNJUPWBOÏN QżFEQSPEFKJ Vä PE ,Ř W TÓUJ 5JDLFTUSFBN D[ 7ÓDF JOGPSNBDÓ TF CVEFUF QSBWJEFMOŞ EPWÓ EBU OB XXX .BGJB3FDPSET D[ MBCFMV LUFSâ QSP WÈT UVIMF QÈSUZ VWBżJM VMJDF ŘFLÈ

%JBSJFT QżFETUBWVKF OFLBMPV LPOLVSFODJ +JOÓ OBPQBL BSHVNFOUVKÓ äF EƉWPEZ W QP[ BEÓ SFäÓSPWÈOÓ EWBOÈDUJ LSÈULPNFUSÈäOÓDI GFNJOJTUJDLâDI GJMNƉ TF [DFMB MJÝÓ PE QPS OPHSBGJDLÏIP QSƉNZTMV ÀWÏETLâ GJMNPWâ JOTUJUVU QPTLZUM UZUP EPUBDF W TPVMBEV T OÈ[PSFN äF GJMN %JSUZ %JBSJFT KF QPLVTFN QżFETUBWJU OPWPV GPSNV äFOTLÏ TFYVBMJUZ

;QSÈWB %JSUZ %JBSJFT KF EPQSPWÈ[FO CSPäVSPV T GPUP HSBGJFNJ B SP[IPWPSZ VNŞMLZŵ WF LUFSÏN QPEÈWBKÓ EBMÝÓ WâLMBE B IMVCÝÓ WZTWŞUMFOÓ WFEMF QżÓMJÝ [żFKNÏIP QPTFMTUWÓ UŞDIUP GJMNƉ ;SOJUÈ LWBMJUB LSÈULPNFUSÈäOÓDI TOÓNLƉ KF PCŘBT QżFLWBQJWŞ WZTPLÈ KTPV UPUJä OBUÈŘFOZ NPCJMZ 4POZ &SJDTTPO LUFSÏ KTPV WF ÀWÏETLV OFKWÓDF QPVäÓWBOÏ +FEOB WŞD LUFSÈ CJKF EP PŘÓ KF UP äF WÝJDIOJ KTPV CŞMPÝJ NPäOÈ [ UPIPUP QPIMFEV TJ UP żÓLÈ P KJOâ UZQ VWPMOŞOÓ XXX EJSUZEJBSJFT TF

0EQPMFEOJ QSPHSBN PE I QżFE .JMÏOJVN 5ÈCPS 4OPXCPBSE 4LJ +*## +BN 5ÈCPS .POUBOB (SBGGJUJ +BN %05; 5VOOJOH LPVUFL %+ ;BUP 5ÈCPS

7FŘFSOÓ QSPHSBN PE I ,PODFSU W QSPTUPSÈDI .JMFOJB 5ÈCPS XXX NJMFOJVNUBCPS D[

,BQFMZ OB (SFFO4IPQ )JQ )PQ 4UBHF

+B 3VMF /&8 :03, 64"

3ZUNVT GFBU ,POUSBGBLU BOE 5JOB 4,

o 4QFDJBM GFBUVSJOH TIPX B QSFNJÏSB LMJQV

%BWJE 4UFFM GFBU 5PN .BMBS ;MÓO

o LżFTU /FX $% 4DPSQJPO B QSFNJÏSB

&MOJOP .JLVMPW o LżFTU OFX $%

"TTPDJBM B QSFNJÏSB WJEFPLMJQV

,"-* 4,

3VEB [ 0TUSBWZ GFBU .BSUJOB 1ÈSUMPWÈ

0TUSBWB ė#

%+T OB )BWBOB BOE 3PDB8FBS #VMMFU 5JNF (SJNF %VCTUFQ 4UBHF

%K 4NBDL POF #VMMFU 5JNF 4QJO

o *TDSFBN 1SBIB

%K $IJL %VQTUFQ 1SBIB

%K 6HP ,JDL *U 1SBIB

.D )ZQF CZ 4NBDL *HPS

8_e#Eh]Wd_Y ikYY[ii cWZ[ ie [Wio¾ _dYh[Wi[Z o_[bZi gkWb_jo m_j^ [l[ho Yhef

6bc^\gdl Dg\Vc^X <gdl Hi^bjaVci Dg\Vc^X WVhZY gddi VcY \gdl hi^bjaVidg VcY idc^X# 6ahd egdbdiZh aZV[! hiZb VcY ZconbZ egdYjXi^dc! \jVgVciZZ^c\ i]Z WZhi hiVgi [dg ndjc\ eaVcih# 8dch^hi^c\ d[ Vb^cd VX^Yh! k^iVb^ch VcY hZVlZZY `Zae# 7jY 7ddhi Dg\Vc^X 7addb Hi^bjaVci Dg\Vc^X WVhZY WjY VcY Waddb hi^bjaVidg VcY idc^X# 8dch^hi^c\ d[ Vb^cd VX^Yh! bVXgd VcY b^Xgd ZaZbZcih! VcY cVijgVa ]dgbdcZh [gdb kZ\ZiVWaZ bViiZg VcY hZVlZZY `Zae#

Hjbd ;adlZg 7jY Hi^bjaVidg 6 heZX^Va WaZcY d[ ediVhh^jb! e]dhe]ViZ VcY ]jbViZh [dg ÓdlZg^c\ eaVcih# >cXgZVhZh n^ZaYh je id (% # Hjbd " i]Z `^c\ d[ WddhiZgh H]^kV 6 7 AVWgVidgn <gVYZ CE@ IgVXZ :aZbZcih 6 ild eVgi eaVci [ddY YZh^\cZY id WZ jhZY ^c Wdi] i]Z eaVcih \gdl VcY Wddb XnXaZ ^c Vcn bZY^jb VcY dc Vcn ]nYgdedc^X hnhiZb# <gdl^c\ [dg W^\ n^ZaYh! bVYZ ZVhn#

<Zi V]ZVY d[ i]Z \VbZ! [ZZY ndjg eaVcih 8Vh] 8gde cjig^Zcih

8dXdeZVi BZY^jb G=E EgZb^jb FjVa^in 8Zgi^ÒZY 7j[[ZgZY 8V B\! E= *#-$+#'# HjeZg^dg lViZg! V^g cjig^Zci ]daY^c\ XVeVX^in XdbeVgZY id Vcn di]Zg bZY^jb dg XdXdeZVi dc i]Z bVg`Zi idYVn# G=E EgZb^jb EgdYjXi Cd# %--7@%.

8dWgV Gddi$8jii^c\ Hi^bjaVci BZY^jb 8dcY^i^dcZg 7ZcZÒX^Va 7VXiZg^V VcY ;jc\^# +% Y^[[ZgZci higV^ch d[ b^Xgd"dg\Vc^hbh! l^i] V heZX^Vaan [dgbjaViZY W^d"hi^bjaVci! k^iVb^ch 8 7&! `Zae VcY ]jbViZh#

mmm$YWi^#Yhef$db ! )' ,*, +/) &-- dg !)' ,'/ '/' ,,+

.V[FVN QŞTUPWÈOÓ +TNF UBEZ PQŞU T QSBWJEFMOâNJ JOGPS NBDFNJ P BLUVÈMOÓN EŞOÓ W .V[FV QŞTUPWÈOÓ 4 SBEPTUÓ NVTÓNF P[OÈNJU äF WBÝF BLUJWJUB OFVUVDIÈ /BPQBL 1P [WFżFKOŞOÓ WâTMFELƉ W NJOVMÏN ŘÓTMF KTUF OÈN QPTMBMJ TQPVTUV QBSÈE OÓDI GPUFL "CZDIPN WÝFN VTOBEOJMJ QżÓTUVQ L GPUPHSBGJÓN B QżJTQŞMJ L WZÝÝÓ QżFIMFEOPTUJ WZUWPżJMJ KTNF TUSÈOLZ WŞOPWBOÏ QPV[F .V[FV QŞTUPWÈOÓ o XXX HSPXNV[FVN D[ /B XFCV OBK EFUF GPUPHSBGJF QżÓTQŞWLƉ B LPNFOUÈżF PE [BTJMBUFMƉ OFCP PE OÈT .ƉäFUF UBLÏ QżJEBU TWPKÓ WMBTUOÓ QP[OÈNLV B WZKÈEżJU TF L NV[FV

0E %PLUPSB (SPXFSB ;ESBWÓN QŞLOŞ [EF [BTÓMÈN QÈS WMBTU OÓDI [BŘÈULƉ W JOEPPS QŞTUPWÈOÓ LEZ USI T QŞTUJUFMTLâNJ QPUżFCBNJ OFCZM KFÝUŞ UBL [BTZDFO B ŘMPWŞL NVTFM CâU USPDIV JOPWBUJWOÓ W KFIP QPŘJOFDI /FWÓN KFTUMJ

TF 7ÈN [PCSB[Ó EPCżF OBISBOÏ GPULZ BMF VSŘJUÏ SP[QP[OÈUF ŘBTPWPV QPTMPVQOPTU W KFEOPUMJWâDI HSPXFDI 6 QSWOÓIP TZTUÏNV KTFN QPVäJM TUÓOJEMP [ QPVMJŘOÓ MBNQZ LUFSÏ CZMP [BTB[FOP EP EBMÝÓIP TUÓOJEMB [ NBUOÏIP OFSF[ QMFDIV WZSPCFOÏIP UÈUPV EMF NÏIP WâLSFTV B OB LUFSÏN CZMP [BWŞÝFOP QMFYJTLMP UBLZ [ QPVMJŘOÓ MBNQZ QSP TOÓäFOÓ WZEÈWBOÏIP UFQMB PE WâCPKLZ 7 EBMÝÓN LPMF KTFN PE TUÓOJEFM [BWFEM "-6 GMFY SPVSV QSP FGFLUJWOŞKÝÓ PEWPE UFQMÏ IP W[EVDIV PE WâCPKLZ 1P[EŞKJ KTFN TJ QPżÓEJM IPNF NBEF DPPMUVCF LUFSâ QPVäÓWÈN EPEOFT B NBYJNÈMOÓ TQP LPKFOPTU 7MILPTU OFä KTFN TJ QPżÓEJM [WMIŘPWBŘLV NJ [BSVŘPWBM IBES [BWŞÝFOâ OBE TUÓOJEMFN +FMJLPä KTFN EżÓWF T SPTUMJOBNJ WTUÈWBM J

VTÓOBM UBL KTFN NVTFM WZNZTMFU TOÓäFOÓ IMVLV WŞUSÈLƉ /FKWÓD TF PTWŞEŘJMP PCB MJU PCWPE WŞUSÈLV J[PMBŘOÓ WBUPV SPDL XPPM LUFSPV KTFN [BKJTUJM L WŞUSÈLV QSPVäLFN LBSJNBULZ B MFQFOLPV QżJQFWOJM LF TLżÓOJ +FMJLPä KTFN OFNV TFM QżJÝSPVCPWBU WŞUSÈL LF TLżÓOJ UBL TF FMJNJOPWBMZ WJCSBDF IMVL WŞUSÈLV B W[EVDIV OB NJOJNVN B NÏ VTÓOÈOÓ CZMP [BT P USPDIV LMJEOŞKÝÓ

,EZä KTFN TJ QPżÓEJM [WMIŘPWBŘLV PTWŞEŘFOâ UZQ 414 UBL KTFN [ JOTUBMB UÏSTLâDI USVCFL WZSPCJM [WMIŘPWBDÓ PCWPE BCZ NMIB CZMB SPWOPNŞSOŞ SP[WÈEŞOB L SPTUMJOÈN 1PTUVQFN ŘBTV KTFN WZMFQÝJM KFEFO OÈWPE QVCMJLPWBOâ OB OFUV B WZSP CJM FYUFSOÓ OÈESä [ DDB M LâCMF WF LUF SÏN KF BLWBSJTUJDLÏ ŘFSQBEMP QVNQVKÓDÓ WPEV EP QPETUBWDF [WMIŘPWBŘLZ B EBMÝÓ [BISBEOJDLPV USVCJDÓ QżFCZUFŘOÈ WPEB [ QPETUBWDF KF WSBDFOB [QŞU EP LâCMF " UÓN

KTFN QSPEMPVäJM JOUFSWBM EPQMŵPWÈOÓ WPEZ EP OÈESäF Bä P QŞU EOÓ %PVGÈN äF TF 7ÈN CVEPV NPKF GPULZ MÓCJU B CVEPV TF IPEJU QSP SP[ÝÓżFOÓ EŞKJO JOEPPS QŞTUPWÈOÓ 'PULZ KTPV QBSÈEOÓ B EPLPOBMF [BQB EBKÓ EP LPODFQUV .V[FB QŞTUPWÈOÓ ;B CÈKFŘOâ QSƉWPEOÓ EPQJT 5J QPTÓMÈNF NBMPV PENŞOV

"K TMPWBŘJTLP TB L OÈN QSJQPKJMP 1P[ESBW PE CSBUSB [F 4MPWFOTLB OÈN VEŞMBM WFMJLPV SBEPTU (SPXFżJ OF[OB KÓ ISBOJD B UP KF KFOPN EPCżF 7ÓNF äF OBÝJ WâDIPEOÓ TPVTFEÏ UP OFNBKÓ T QŞTUPWÈOÓN TOBEOÏ B OÈLVQ QPUżFCOâDI LPNQPOFOU KTPV ŘBTUP OVDFOJ EŞMBU W ė3 4OBE TF UP V WÈT CS[P [MFQÝÓ "MF WF GPUCBMF CZTUF OÈT QPSÈäFU OFNVTFMJ 5V QPTJFMBN GPUP EP NÞ[FB NÙKIP TUBSÏIP CPYV % * : ;MP[FOF [P TUPMJOLB QPE LWF UJOV [ BVUB PESB[BD TWFUMB OB TLMP NBMJ WFOUJMBUPSJL [P TPMÈSOFK ŘBQJDF TQSBWFOâ OB """ CBUÏSJV BLP DIMBEFOJF X OPWÝFK ÞTQPSLZ %ÞGBN äF UP OJŘ OFQSFLPOÈ YJ 4PSSZ [B LWBMJUV GPUJFL 1P[ESBW [P 4MPWFOTLB ;IPSÝFOPV LWBMJUV GPULZ NPäOÈ [QƉTPCJMB DFMOÓ F NBJMPWÈ LPOUSPMB /JD UP BMF OFNŞOÓ OB UPN äF [ OÓ M[F EPCżF QP[OBU äF J CSBUJB 4MPWÈDJ NBKÓ QPE ŘFQJDÓ B EPLÈäPV TJ QPSB EJU T LBäEPV TJUVBDÓ

1żÓÝUŞ KTJ OB żBEŞ 5: 1PÝMJ GPULV OFCP DFMÏ TUBSÏ WZCBWFOÓ OB BESFTV VWFEFOPV OB LPODJ ŘMÈOLV 7 1żÓÝUÓN ŘÓTMF PCMÓCFOÏIP 4PGU 4FDSFUT NƉäFÝ CâU QSÈWŞ 5WPKF QŞTUÓSOB OFCP KFKÓ LPVTLZ /B OJD OFŘFLFK B QPTÓMFK KFÝUŞ EOFT 1żÓTQŞWLZ QPTÓMFKUF OB OPWPV BESFTV (SPXTIPQ (SFFOIPNF ,PMMÈSPWB 1M[Fŵ OFCP OB FNBJM NV[FVN!HSFFOIPNF D[ 7ÝFDIOZ GPULZ OBKEFUF OB XXX HSPXNV[FVN D[ OFCP OB XXX HSFFOIPNF D[ DMBOLZ NV[FVN QFTUPWBOJ 5FÝUF TF OB EBMÝÓ 4PGU 4FDSFUT

4USBUFHJF CPKF QSPUJ ESPHÈN OB MÏUB o 7 SÈNDJ CPKF QSPUJ PNBNOâN B QTZDIP USPQOÓN MÈULÈN CâWBKÓ QżJKÓNÈOZ SƉ[OÏ TUSBUFHJF B QSPHSBNZ LUFSÏ NBKÓ UFOUP CPK [FGFLUJWŵPWBU B WZUZŘPWBU KFIP DÓMF ėFTLÈ SFQVCMJLB OFOÓ W UPNUP TNŞSV WâKJNLPV /B KFEOÈOÓ WMÈEZ W LWŞUOV MFUPÝOÓIP SPLV WMÈEB ė3 QSPKFEOBMB B TDIWÈMJMB v/ÈSPEOÓ TUSBUFHJJ QSPUJESPHPWÏ QPMJUJLZ OB PCEPCÓ o i /PWÈ TUSBUFHJF PCTBIPWŞ OBWB[VKF OB TUSBUFHJJ QżFEDIP[Ó LUFSÈ CZMB TUBOPWFOB OB MÏUB o %ÈMF EFGJOVKF W LPNQMFYOÓ B LPODFQŘOÓ SPWJOŞ [ÈLMBEOÓ WâDIPEJTLB B TNŞSZ żFÝFOÓ QSP CMÏNV VäÓWÈOÓ ESPH B QSJODJQZ B QżÓTUVQZ OB LUFSâDI QSPUJESPHPWÈ QPMJUJLB TUBWÓ $P KF WMBTUOŞ EƉWPEFN QżJKFUÓ TUSBUFHJF 0EQPWŞś OB UVUP PUÈ[LV KF W OÓ WZNF [FOB PDISBOPV WFżFKOÏIP [ESBWÓ B EÈMF PDISBOPV CF[QFŘOPTUJ KFEOPUMJWDƉ B UBLÏ DFMÏ TQPMFŘOPTUJ 7 SÈNDJ PDISBOZ WFżFKOÏIP [ESBWÓ TUSBUFHJF TUBWÓ OB LPO DFQUV PDISBOZ WFżFKOÏIP [ESBWÓ LUFSâ CZM EFGJOPWÈO 4WŞUPWPV [ESBWPUOJDLPV PSHBOJ [BDÓ 5FOUP LPODFQU TF TLMÈEÈ [ QSFWFOUJW OÓDI W[EŞMÈWBDÓDI MÏŘFCOâDI TPDJÈMOÓDI SFHVMBŘOÓDI B LPOUSPMOÓDI PQBUżFOÓ ;BISOVKÓ TF TFN J PQBUżFOÓ L WZNÈIÈOÓ QSÈWB [BNŞżFOÏ OB PNF[FOÓ EPTUVQOPTUJ B EJTUSJCVDF ESPH B EPESäPWÈOÓ [ÈLPOƉ %ÈMF UFOUP LPODFQU PCTBIVKF J EBMÝÓ PQBUżFOÓ KFä NBKÓ [B DÓM [MFQÝPWBU [ESBWPUOÓ TPDJÈMOÓ FLPOPNJDLÏ CF[QFŘOPTUOÓ B USFTUOŞQSÈWOÓ QPENÓOLZ LUFSÏ PWMJWŵVKÓ [ESBWâ WâWPK KFE OPUMJWDF J TQPMFŘOPTUJ 7 ŘÈTUJ TUSBUFHJF WŞOPWBOÏ PDISBOŞ CF[QFŘOPTUJ KFEOPUMJWDƉ B TQPMFŘOPTUJ TF VWÈEÓ äF WâSPCB EJTUSJCVDF B OFBVUPSJ [PWBOÏ OBLMÈEÈOÓ T JMFHÈMOÓNJ ESPHBNJ KTPV OF[ÈLPOOÏ KFWZ TF LUFSâNJ KF TQP KFO WâTLZU LSJNJOÈMOÓIP DIPWÈOÓ 0ISPäFOÓ CF[QFŘOPTUJ KFEOPUMJWDƉ J TQPMFŘOPTUJ QżFETUBWVKF LBäEÈ ÞSPWFŵ UŞDIUP OF[È LPOOâDI KFWƉ BMF QżFEFWÝÓN PSHBOJ[PWBOÈ GPSNB USFTUOâDI ŘJOOPTUÓ TPVWJTFKÓDÓDI T WâSPCPV B EJTUSJCVDÓ ESPH OFCP T QSBOÓN ÝQJOBWâDI QFOŞ[ QPDIÈ[FKÓDÓDI [ PCDIPEV T ESPHBNJ 3J[JLFN KF SPWOŞä [BDIÈ[FOÓ T MFHÈMOÓNJ ESPHBNJ NJNP SÈNFD WZNF [FOâ [ÈLPOZ ĻFÝFOÓ VWFEFOâDI QSPCMÏNƉ WZäBEVKF LPPSEJOPWBOÏ B OFLPNQSPNJTOÓ ÞTJMÓ WÝFDI TMPäFL QSPUJESPHPWÏ QPMJUJLZ UBL BCZ CF[QFŘOPTU KFEOPUMJWDƉ J TQPMFŘOPTUJ CZMB [BKJÝUŞOB W NBYJNÈMOÓ EPTBäJUFMOÏ NÓżF -[F EPWP[PWBU äF QPMJDJF TF [BNŞżVKF QżFEFWÝÓN OB PSHBOJ[PWBOÏ TLVQJOZ LUFSÏ ESPHZ WZSÈCŞKÓ B PCDIPEVKÓ T OJNJ PWÝFN KBL VWÈEÓN EÈMF OFIPEMÈ QPMFWPWBU BOJ QżJ QPUÓSÈOÓ CŞäOâDI VäJWBUFMƉ .F[J IMBWOÓ GVOLDF OPWÏ TUSBUFHJF QBUżÓ 7ZUZŘJU [ÈLMBEOÓ QżÓTUVQZ QSJO DJQZ B DÓMF B TUBOPWJU QSJPSJUZ OÈSPEOÓ QSPUJESPHPWÏ QPMJUJLZ ė3 QSP WÝFDIOZ ŘMÈOLZ WFżFKOÏ TQSÈWZ B QSP PCŘBOTLPV TQPMFŘOPTU 7ZNF[JU JOTUJUVDJPOÈMOÓ B PSHBOJ[BŘOÓ SÈNFD QSPUJESPHPWÏ QPMJUJLZ J PEQPWŞEOPTU B LPNQFUFODF WÝFDI IMBW OÓDI ŘMÈOLƉ WFżFKOÏ TQSÈWZ W QSPUJESPHP

WÏ QPMJUJDF 1SPQPKFOÓ WFżFKOÏ TQSÈWZ B OFTUÈUOÓDI J TWÏQPNPDOâDI PSHBOJ[BDÓ OB WÝFDI ÞSPWOÓDI SFBMJ[BDF QSPUJESPHPWÏ QPMJUJLZ OBCÓELB JOTUJUVDÓN PSHBOJ[BDÓN B PCŘBOTLÏ TQPMFŘOPTUJ BLUJWOŞ TF [BQPKJU EP SFBMJ[BDF OÈSPEOÓ QSPUJESPHPWÏ QPMJUJLZ BCZ UBL NPIMZ QżJTQŞU L OBQMŵPWÈOÓ KFKÓDI DÓMƉ 1SP QPUżFCZ TQPMVQSÈDF OB OÈSPE OÓ J OB NF[JOÈSPEOÓ ÞSPWOJ JOGPSNPWBU PECPSOPV J MBJDLPV WFżFKOPTU P QPEPCŞ OÈSPEOÓ QSPUJESPHPWÏ QPMJUJLZ ė3 P KFKÓDI DÓMFDI B P QSJPSJUÈDI TNŞżPWÈOÓ 5BLPWÏUP WJ[F P TQPMVQSÈDJ T OFWFżFKOâN TFLUPSFN B JOGPSNPWÈOÓ WFżFKOPTUJ M[F KJTUŞ IPEOPUJU LMBEOŞ PWÝFN Bä EBMÝÓ WâWPK B QSƉCŞäOÈ IPEOPDFOÓ VLÈäPV [EB OF[ƉTUBMP QPV[F V UŞDIUP WJ[Ó 1SƉCŞäOÈ WZIPEOPDFOÓ QMOŞOÓ DÓMV TUSBUFHJF CZ NŞMB CâU L EJTQP[JDJ W MFUFDI B

7F TUSBUFHJJ KTPV WZUZŘFOZ ŘUZżJ IMBWOÓ DÓMF , OBQMOŞOÓ UŞDIUP DÓMV CZ QBL NŞMZ OBQPNÈIBU OBWB[VKÓDÓ EÓMŘÓ PQBUżFOÓ 1SWOÓN DÓMFN KF TOÓäJU NÓSV FYQFSJNFOUÈMOÓIP B QżÓMFäJUPTUOÏIP VäÓWÈOÓ ESPH [FKNÏOB NMBEâNJ MJENJ +FEOÈ TF UFEZ P QSJNÈSOÓ QSFWFODJ VäÓWÈOÓ ESPH 5PIPUP DÓMF CZ NŞMP CâU EPTBäFOP NPUJWBDÓ L äJWPUOÓNV TUZMV CF[ ESPH B NPUJWBDÓ L OÈWSBUV L äJWPUOÓNV TUZMV CF[ ESPH 1PLVE KJä L FYQFSJNFOUÈMOÓNV ŘJ QżÓMFäJUPTUOÏNV VäÓWÈOÓ ESPH EPDIÈ[Ó NŞMP CZ CâU QPTVOVUP [BIÈKFOÓ FYQFSJNFOUPWÈOÓ T ESPHBNJ EP WZÝÝÓIP WŞLV B EÈMF CZ NŞMP EPKÓU LF TOÓäFOÓ NÓSZ VäÓWÈOÓ ESPH .ŞMP CZ UBLÏ EPDIÈ[FU LF TOJäPWÈOÓ SJ[JL TQPKFOâDI T VäÓWÈOÓN ESPH %SVIâN [ DÓMƉ KF TOÓäFOÓ NÓSZ QSPCMÏNPWÏIP B JOUFO[JWOÓIP VäÓWÈOÓ ESPH 5FOUP DÓM TQPŘÓWÈ [FKNÏOB W MÏŘCŞ B [BŘMFŵPWÈOÓ [ÈWJTMâDI VäJWBUFMƉ [QŞU EP TQPMFŘOPTUJ 7 SÈNDJ QMOŞOÓ ESVIÏIP DÓMF CZ NŞMP EPKÓU L OÈWSBUV L äJWPUOÓNV TUZMV CF[ ESPH V PTPC QSBWJEFMOŞ B EMPVIPEPCŞ VäÓWBKÓDÓDI OÈWZLPWÏ MÈULZ ŘJ V PTPC [ÈWJT MâDI OB OÈWZLPWâDI MÈULÈDI %ÈMF CZ NŞMP EPKÓU LF [MFQÝFOÓ DFMLPWÏIP [ESBWÓ VäJWBUFMƉ ESPH B [ÈWJTMâDI OB OÈWZLPWâDI MÈULÈDI WŘFUOŞ KFKJDI QTZDIJBUSJDLÏ B TPNB UJDLÏ LPNPSCJEJUZ 1TZDIJDLÈ B GZ[JDLÈ POFNPDOŞOÓ LUFSÈ W[OJLBKÓ W TPVWJTMPTUJ T VäÓWÈOÓN ESPH /BQż )*7 TDIJ[PGSFOJF BQPE %ÈMF CZ NŞMP EPDIÈ[FU LF [MFQÝFOÓ TPDJÈMOÓIP TUBUVUV B NÓSZ TPDJÈMOÓIP [BŘMFOŞOÓ VäJWBUFMƉ ESPH B [ÈWJTMâDI OB OÈWZLPWâDI MÈULÈDI TOÓäFOÓ SJ[JL OFHBUJW OÓDI [ESBWPUOÓDI B TPDJÈMOÓDI EƉTMFELƉ V VäJWBUFMƉ ESPH B [ÈWJTMâDI OB OÈWZLPWâDI MÈULÈDI 1żÓ TQMOŞOÓ UŞDIUP DÓMƉ CZ NŞMP CâU [BCSÈOŞOP TPDJÈMOÓNV WZMPVŘFOÓ V [ÈWJT

MâDI VäJWBUFMƉ +BLP UżFUÓ DÓM CZMP TUBOP WFOP TOÓäJU QPUFODJÈMOÓ SJ[JLB TQPKFOÈ T VäÓWÈOÓN ESPH QSP KFEJODF B TQPMFŘOPTU .F[J EÓMŘÓ PQBUżFOÓ WFEPVDÓ L UżFUÓNV DÓMJ QBL QBUżÓ TOÓäFOÓ SJ[JL OFHBUJWOÓDI [ESBWPU OÓDI EƉTMFELƉ V VäJWBUFMƉ ESPH B [ÈWJTMâDI OB OÈWZLPWâDI MÈULÈDI KBLP KTPV [FKNÏOB WâTLZU QżFEÈWLPWÈOÓ JOGFLŘOÓDI OFNPDÓ B EBMÝÓ TPNBUJDLÏ B QTZDIJBUSJDLÏ LPNPSCJ EJUZ %ÈMF CZ NŞMP EPDIÈ[FU LF TOJäPWÈOÓ SJ[JL OFHBUJWOÓDI TPDJÈMOÓDI EƉTMFELƉ V VäJWBUFMƉ ESPH B [ÈWJTMâDI OB OÈWZLPWâDI MÈULÈDI 7 UPNUP QżÓQBEŞ TF [FKNÏOB KFEOÈ P OF[BNŞTUOBOPTU QSPCMÏNZ W SPEJO OÏN B TPDJÈMOÓN äJWPUŞ B QÈDIÈOÓ USFTUOÓ ŘJOOPTUJ * V UPIPUP DÓMF QżFEQPLMÈEÈ TUSB UFHJF TOÓäFOÓ NÓSZ VäÓWÈOÓ ESPH B NPUJWBDJ L OÈWSBUV L äJWPUOÓNV TUZMV CF[ ESPH ėUWSUâN DÓMFN LUFSÏIP CZ NŞMP CâU EPTBäFOP KF TOÓäFOÓ EPTUVQOPTUJ ESPH [FKNÏOB QSP NMBEÏ MJEJ 5PIPUP ŘUWSUÏIP DÓMF CZ NŞMP CâU EPTBIPWÈOP QżFEFWÝÓN QSÈWOÓNJ QSPTUżFELZ 5ZUP CZ NŞMZ TQPŘÓWBU W JOUFSWFODÓDI W PCMBTUJ WZNÈIÈOÓ QSÈWB LUFSÏ KTPV QPTUBWFOZ [FKNÏOB OB FGFLUJWOŞKÝÓN WZVäÓWÈOÓ FYJTUVKÓDÓDI MFHJTMB UJWOÓDI B JOTUJUVDJPOÈMOÓDI OÈTUSPKƉ .ŞMP CZ EPDIÈ[FU L PNF[FOÓ EPTUVQOPTUJ MFHÈMOÓDI B OFMFHÈMOÓDI ESPH [FKNÏOB QSP EŞUJ B NMÈEFä 5SI T PNBNOâNJ B QTZDIPUSPQOÓ NJ MÈULBNJ QżÓQSBWLZ B QSFLVSTPSZ ESPH CZ NŞM CâU LPOUSPMPWÈO B SFHVMPWÈO .ŞMB CZ CâU QPUÓSÈOB USFTUOÈ ŘJOOPTUJ TQPKFOÈ T OFBVUPSJ[PWBOPV WâSPCPV EJTUSJCVDÓ B KJOâN OBLMÈEÈOÓN T ESPHBNJ [FKNÏOB KFKÓ PSHBOJ[PWBOÏ B NF[JOÈSPEOÓ GPSNZ %ÈMF CZ NŞMB CâU [MFQÝPWÈOB PDISBOB [ESBWÓ CF[QFŘOPTUJ PTPC TQPMFŘOPTUJ B PDISBOB NBKFULV QżFE USFTUOPV ŘJOOPTUÓ TQPKFOPV T WâSPCPV EJTUSJCVDÓ ESPH B QżFE KFKJDI EƉTMFELZ UBL BCZ ÝLPEZ VUSQŞOÏ KFEOPUMJW DJ B TQPMFŘOPTUÓ CZMZ DP OFKOJäÝÓ 7 TPVWJTMPTUJ TF ŘUWSUâN DÓMFN QPWBäVKJ [B WIPEOÏ [NÓOJU TLVUFŘOPTU äF QżFTUPäF EPÝMP L ŘÈTUFŘOÏ EFLSJNJOBMJ[BDJ NBSJIVB OZ OFOÓ BOJ KFKÓ QżFDIPWÈWÈOÓ CF[USFTU OÏ KFEOÈ TF P QżFTUVQFL [B LUFSâ ISP[Ó QPLVUB Bä ,Ř 1PMJDJF UBLÏ WZTÓMÈ WFżFKOPTUJ TJHOÈMZ äF BOJ UZUP QżFTUVQLZ OFCVEF UPMFSPWBU 7ZKÈEżFOÓN UÏUP TOBIZ KF J UP äF WZCBWJMP TWÏ QżÓTMVÝOÓLZ QżÓSVŘLPV T OÈ[WFN v%ƉTMFEOŞ QSPUJ UPYJLPNBOJJi LUFSÈ NÈ TMPVäJU QPMJDJTUƉN L MFQÝÓ PSJFOUB DJ W UÏUP QSPCMFNBUJDF B FGFLUJWOŞKÝÓNV WZNÈIÈOÓ QSÈWB QżÓNP W UFSÏOV 5BUP CSPäVSLB WZNF[VKF NJNP KJOÏ J SP[EÓM NF[J USFTUOâN ŘJOFN B QżFTUVQLFN W PCMBTUJ UPYJLPNBOJ B EÈMF UBLÏ OBQż EPQPSVŘVKF [QƉTPC LPNVOJLBDF T PTPCBNJ QPE WMJ WFN PNBNOâDI MÈUFL .F[J EBMÝÓ CPEZ QSPUJESPHPWÏ WMÈEOÓ TUSB UFHJF LUFSÏ KJTUŞ TUPKÓ [B CMJäÝÓ QPWÝJNOVUÓ QBUżÓ SPMF PCDÓ B LSBKƉ B EÈMF UBLÏ OFWFżFKOÏIP TFLUPSV 0EQPWŞEOPTU [B QSPUJESPHPWPV QPMJUJLV B QSPUJPQBUżFOÓ KF UBL EÈMF EFMFHPWÈOB J OB LSBKF B OŞLUFSÏ PCDF 0CDF B LSBKF CZ KFÝUŞ UPUJä OBWÓD NŞMJ W SƉ[OÏ NÓżF QżJKÓNBU WMBTUOÓ QSPUJESPHPWÏ TUSBUFHJF B

QMÈOZ W KFKJDIä SÈNDJ CVEPV [BWÈEŞOB PQBUżFOÓ WIPEOÈ QSP EBOÏ Þ[FNÓ 7 SÈNDJ LPPSEJOBDF QSPUJESPHPWÏ QPMJUJLZ CZ WÝBL QPTUVQOŞ NŞMP EPDIÈ[FU L IBSNPOJ[BDJ B L [BWÈEŞOÓ PTWŞEŘFOÏ QSBYF OB [ÈLMBEŞ QżFOÈÝFOÓ [LVÝFOPTUÓ NF[J LSBKJ 1PEMF TUSBUFHJF CZ NŞMZ CâU W PUÈ[LÈDI QSPUJESPHPWÏ QPMJUJLZ LMÓŘPWâNJ PECPSOâ NJ QBSUOFSZ JOTUJUVDÓ WFżFKOÏ TQSÈWZ PECPSOÏ TQPMFŘOPTUJ OFTUÈUOÓ OF[JTLPWÏ PSHBOJ[BDF Wâ[LVNOÏ JOTUJUVDF B VOJWFS [JUZ +FKJDI [ÈTUVQDJ CZ TF WF TQPMVQSÈDJ T PSHÈOZ WFżFKOÏ TQSÈWZ NŞMJ QPEÓMFU [FK NÏOB OB QMÈOPWÈOÓ B SFBMJ[BDJ PQBUżFOÓ B BLUJWJU QSPUJESPHPWÏ QPMJUJLZ OB KFKJDI WZIPEOPDPWÈOÓ B OB [WZÝPWÈOÓ LWBMJUZ B FGFLUJWJUZ TMVäFC LUFSÏ QPTLZUVKÓ 5BUP BLUJWJUB CZ NŞMB CâU GJOBOŘOŞ QPEQPSP WÈOB [ WFżFKOâDI [ESPKƉ ;ÈKNZ PECPSOÏ TQPMFŘOPTUJ OFTUÈUOÓIP B BLBEFNJDLÏIP TFLUPSV KTPV [BTUVQPWÈOZ QSPTUżFEOJDUWÓN ŘMFOTUWÓ KFKJDI SFQSF[FOUBOUƉ W 3BEŞ WMÈEZ QSP LPPSEJOBDJ QSPUJESPHPWÏ QPMJUJLZ QPSBEOÓDI B QSBDPWOÓDI PSHÈOFDI 3BEZ B /ÈSPEOÓN NPOJUPSPWBDÓN TUżFEJTLV QSP ESPHZ B ESPHPWÏ [ÈWJTMPTUJ /PWÈ QSÈWOÓ ÞQSBWB TF TFCPV QżJOFTMB J [WâÝFOÏ OÈSPLZ OB [BKJÝUŞOÓ EPTUBUFŘOÏIP PECPSOÏIP [È[FNÓ QSP QPTV[PWÈOÓ KFE OPUMJWâDI QżÓQBEƉ ESPHPWâDI EFMJLUƉ 7 EOFÝOÓ EPCŞ KJä OFM[F W PCMBTUJ [OFVäÓWÈOÓ ESPH TQSÈWOŞ QPTUVQPWBU B WZNÈIBU QSÈWP CF[ GBLUJDLâDI [OBMPTUÓ ÞŘJOLƉ B TMPäFOÓ OÈWZLPWâDI MÈUFL 1SÈWŞ OFEPLP OBMÈ [OBMPTU KFKJDI ÞŘJOLƉ ŘBTUP WFEF L TJUVBDJ LEZ QSÈWP OFNƉäF CâU FGFLUJWOŞ WZNÈIÈOP /BQżÓLMBE QżÓ TQÈDIÈOÓ USFTUOâDI ŘJOƉ QPE WMJWFN OÈWZLPWÏ MÈULZ LEZ WZWTUÈWBKÓ PUÈ[LZ QżÓŘFUOPTUJ BQPE %ÈMF KFTUMJäF KF QżFLSPŘFOB ISB OJDF NOPäTUWÓ WŞUÝÓIP OFä NBMÏIP V TQPUżFCOÓ GPSNZ ESPHZ OBQż UBCMFUB V FYUÈ[F TVÝJOB V NBSJIVBOZ NVTÓ CâU KFÝUŞ OBWÓD QżFLSPŘFOB ISBOJDF ÞŘJOOÏ MÈULZ LUFSÈ TF [KJÝƃVKF SP[CPSFN LUFSâ KF W NOPIB QżÓQBEFDI WFMNJ OÈSPŘOâ B UBLÏ WFMNJ OÈLMBEOâ * [ UŞDIUP EƉWPEƉ CZ EMF NÏIP OÈ[PSV NŞMP EPDIÈ[FU L NOPIFN ÝJSÝÓ TQPMVQSÈDJ NF[J QPMJDJÓ B PECPSOÓLZ %PNOÓWÈN TF äF ŘÓN WÓDF PECPSOâDI TVCKFLUƉ KBLP JEFÈMOÓ WJEÓN QżFEFWÝÓN WZTPLÏ ÝLPMZ OFCP MÏLBżTLÈ [BżÓ[FOÓ TF CVEF OB UBLPWâDIUP Wâ[LVNFDI QPEÓMFU UÓN WŞUÝÓ KF QSBWEŞQPEPCOPTU [FGFLUJWOŞOÓ QPTUVQƉ QżJ QMOŞOÓ DÓMƉ WMÈEOÓ QSPUJESP HPWÏ TUSBUFHJF 4UBW LEZ KF EMPVIPEPCÈ TQPMVQSÈDF OBWÈ[ÈOB QPV[F TF EWŞNB TVCKFLUZ OFOÓ VTQPLPKJWâ 7 UPNUP TNŞSV CZ CZMP WIPEOÏ QPŘFU TQPMVQSBDVKÓDÓDI TVCKFLUƉ TQÓÝF OBWâÝJU 5FOUP ŘMÈOFL ŘFSQBM [ /ÈSPEOÓ TUSBUFHJF QSPUJESPHPWÏ QPMJUJLZ OB PCEPCÓ Bä LUFSÈ CZMB QżJKBUB VTOFTFOÓN WMÈEZ Ř [F EOF LWŞUOB #PIVäFM OFM[F UVUP TUSBUFHJJ PCTÈIOPVU QPV[F W KFEOPN ŘMÈOLV QSPUP KJ EPQPSVŘVKJ L QżFŘUFOÓ 7F TWÏ QżÓMP[F PCTBIVKF J WFMNJ [BKÓNBWÏ WZIPEOPDFOÓ TUSBUFHJF QżFEFÝMÏ WŘFUOŞ OBQż GJOBODPWÈOÓ B NÓSZ VäÓWÈOÓ ESPH W QPQVMBDJ ė3

6FDQ PH ZLWK \RXU PRELOH RU ZDWFK PH RQ [[[ GIPPQE\ RP

!

* +

%( %& &! "' %## $

0DJLFNp KRXE\ D Y\EDYHQt N MHMLFK SěVWRYiQt 1DYåWLYWH PtVWQt JURZ KHDG VPDUW VKRS QHER ZHERYRX VWUiQNX ZZZ PDJLFWUXIÁHV FRP

8çLM VL EDOHQt V QHMWHQĀtPL SDStUN\ QD WUKX

WKLQ _ XOWUDWKLQ

ZZZ SDUW\LQKRXVH FRP . GRVWiQt YH YåHFK GREUìFK WUDÀNiFK SURGHMQt VtWL *HFR D /HNNHUODQG D Y 3DUW\ LQ +RXVH 5ROOLQJ $UHD

1JOL 1MBOU

'PUP &WB 4FFET

3&1035«Ç ; 1ĝ4507«/¶ 4&;/". 3&,-".

#VTIEPDUPS 7ÓEFŵ 7ÝFDIOP [BŘBMP QżFE KFEFOÈDUJ MFUZ LEZä W DFOUSV IMBWOÓIP NŞTUB 3BLPVTLB WF 7ÓEOJ PUFWżFM TWÏ CSÈOZ OPWâ PCDIPE 1MPDIPV N CZM #64)%0$503 KFEOÓN [ QSWOÓDI HSPXTIPQƉ WF NŞTUŞ B WF TWÏ PCMBTUJ CZM PQSBWEPWâN QSƉLPQOÓLFN 0 ÝFTU SPLƉ QP[EŞKJ CZM WF WÓEFŵTLÏ QSƉNZTMPWÏ PCMBTUJ PUFWżFO ESVIâ PCDIPE #64)%0$503 LUFSâ OB QMPÝF N OBCÓ[FM WÝFDIOP QSP LVMUJ WBDJ QSƉNZTMPWâDI SPTUMJO * LEZä TF [QPŘÈULV QSPWP[PWBUFMÏ PCÈWBMJ KFTUMJ UBLPWâ WFMLâ PCDIPE QżFLPOÈ WÝFDIOZ [OÈNÏ EJNFO [F HSPXTIPQV EPTÈIMJ OBLPOFD ÞTQŞDIV 4LVUFŘOPTU äF TF W PCDIPEFDI #64%0$503 [DFMB JOUFO[JWOŞ TUBSBKÓ P LBäEÏIP KFEOPUMJWÏ IP [ÈLB[OÓLB VNPäOJMB OÈSVTU LUFSâ WFEM W UPNUP SPDF L EBMÝÓ FYQBO[J ŘFSWFODF TF PUFWżFMB OPWÈ EJNFO[F HSPXTIPQV QżFE CSBOBNJ 7ÓEOŞ #64)%0$503 4503& 7 OPWÏN #64)%0$503 4503& OBKEF [ÈLB[OÓL [BKÓNBKÓDÓ TF P LPOPQÓ OB QMPÝF BTJ N WÝF DP NƉäF OBCÓEOPVU EPCżF WZCBWFOâ TQFDJBMJ[PWBOâ PCDIPE QżÓTMVÝFOTUWÓ QSP QŞTUPWÈOÓ B LPVżFOÓ QBUżÓ L TPSUJNFOUV TUFKOŞ UBL KBLP PECPSOÏ LOJIZ ŘBTPQJTZ B %7% 5BLÏ OBCÓELB TFNÓ OFL LPOPQÓ NPIMB CâU W OPWÏN PCDIPEŞ SP[ÝÓżFOB B UBL UFś CVEPV o WFEMF WÝFDI CŞäOâDI ESVIƉ o [BWFEFOZ UBLÏ PQSBWEV TQFDJÈMOÓ PESƉEZ ;WMÈÝUŞ PCMÓCFOÏ KTPV %VUDI 1BTTJPO (SFFOIPVTF 4FFET 4FOTJ 4FFET 1BSBEJTF 4FFET 4FSJPVT 4FFET /JSWBOB 4FFET 3PZBM 2VFFO 4FFET 3PZBM %VUDI (FOFUJDT ,$ #SBJOT 4FFETNBO B 'MZJOH %VUDINBO o BMF W #64)%0$503 4503& KF UBLÏ KFÝUŞ NOPIP KJOâDI ESVIƉ #64)0$503 4503& OBWÓD L UPNV EJTQPOV KF QSPTUPSZ QSP TLMBEPWÈOÓ P WâNŞżF OŞDP QżFT N LUFSÏ OBCÓ[Ó EPTUBUFŘOÏ NÓTUP L UPNV BCZ CZMB LBäEÈ QPQUÈWLB [ÈLB[OÓ LB TQMOŞOB SZDIMF +FEJOFŘOÏ KF OB OPWÏN #64)%0$503 4503& WFEMF WZTPLÏ EPTUVQ OPTUJ OBCÓ[FOâDI QSPEVLUƉ UBLÏ JOEJWJEVÈMOÓ QPSBEFOTUWÓ 4 QPNPDÓ OFKNPEFSOŞKÝÓ UFDI OJLZ NPIPV CâU DP OFKQżFTOŞKJ WZQPŘUFOZ QPUżFCZ OB NÓTUP B [BżÓ[FOÓ #64)%0$503 CZ OFCZM PQSÈWOŞO NÓU TWÏ KNÏOP LEZä

#VCCMFEVTU (SPXEPD 4FFET "VUPS Q .JTDIJFG 'PUPHSBGJF TFNFO (SPXEPD

1SPTUżFEÓ .FUPEB 4VCTUSÈU ÇJWJOZ %PCB SƉTUV %PCB LWFUFOÓ 4UBWCB SPTUMJOZ 4UBWCB QPVQBU "SPNB ÁŘJOFL 7âOPT

8BUUƉ TUBOEBSEOÓ B CPOTBK [FNJOB QPV[F WPEB B EOƉ B EOƉ IF[LÈ *OEJDB MFQLBWÏ LWŞUZ PWPDOÏ UŞäLÈ SFMBYBŘOÓ QFDLB

CZ W KFIP Wâ[LVNOÏN DFOUSV OFCZMP NPäOP ÞTQŞÝOŞ [WMÈEOPVU KBLÏLPMJ QSPCMÏ NZ SPTUMJO 5P TF SP[LżJLMP %OFT QżJDIÈ[Ó NOPIP [ÈLB[OÓLƉ TF TWâNJ OFNPDOâNJ SPTUMJOBNJ BCZ TJ OFDIBMJ PE PECPSOÏIP QFSTPOÈMV QPSBEJU " UBLÏ QFSTPOÈM TF OJLEZ OFEPVŘÓ o PECPSOÏ [OBMPTUJ [BNŞTUOBODƉ TF W TFNJOÈSOÓN DFOUSV #64)%0$503& QSBWJEFMOŞ SP[ÝJżVKÓ UBLÏ [ÈLB[OÓDJ TF CVEPV NPDJ W CVEPVDOV [ÞŘBTUOJU QżFEOÈÝFL P JOPWBDÓDI W LVMUJWBDJ LPOPQÓ "MF #64)0$503 4503& OFOÓ KFO HSPX TIPQ o #64)%0$503 )&.1 $"'& KF JEFÈMOÓN NÓTUFN L EJTLVUPWÈOÓ T QżÈUFMJ QżJ LÈWŞ B LPMÈŘDÓDI [ LPOPQÓ [BUÓNDP WF 7"10 IBMF TF EBKÓ PTPCOŞ PUFTUPWBU OPWÏ USFOEZ W UFDIOPMPHJJ PEQBżPWÈOÓ 1MPDIB LBODFMÈżF #64)%0$503 4503& [BCÓSÈ EBMÝÓDI N B VNPäŵVKF KBL PSHB OJ[PWBOPV QSÈDJ UBL [żFUFMOPV PQUJNBMJ[B DJ QSBDPWOÓDI QSPDFTƉ WF WFMLPPCDIPEŞ B W POMJOF [ÈTJMLÈDI LUFSÏ FYJTUVKÓ UBLÏ Vä KFEFOÈDU MFU B KFKJDIä [ÈLB[OÓDJ PDFŵVKÓ QżFEFWÝÓN SZDIMÏ B QżFTOÏ WZżÓ[FOÓ PCKFE OÈWFL 7 ESVIÏN PCDIPEV #64)%0$503 W DFOUSV 7ÓEOŞ NƉäFUF UFś UBLÏ PEFCSBU WFÝLFSâ TPSUJNFOU #64)%0$503& 4503&

#VTIEPDUPS 4IPQ 8JFO ,JSDIFOHBTTF 8JFO 1Po1È I 4PCPUB o I #VTIEPDUPS 4UPSF *OEVTUSJFTUS # #SVOO BN (FCJSHF 5FM

1P o 1È I 4P o I XXX CVTIEPDUPS BU & .BJM TIPQ!CVTIEPDUPS BU

%FTFU #VCCMFEVTUƉ CZMP WZTFUP QżÓNP OB WMILâ QPEOPT T LPNQPTUFN 1PEOPT CZM VNÓTUŞO EP NOPäÓSOZ T UFQMPUPV P$ ;B IPEJO WÝFDIOB TFNFOB WZSBÝJMB LPżÓOLZ B WÓLP NOPäÓSOZ CZMP PETUSBOŞOP 1PUÏ CZMZ TB[FOJŘLZ QSP USIÈOZ +FO Y ÝMZ EP OPWâDI EPNPWƉ Y CZMZ WZTB[FOZ WFO QżÓNP EP [FMFOJOP WÏIP [ÈIPOV Y TFNFOÈŘLZ T OFKIF[ŘÓN QSPGJMFN CZMZ QżFTB[FOZ B QPOFDIÈOZ VWOJUż OB PLOŞ QżJCMJäOŞ EWB UâEOZ %WŞ JOUFSJÏSPWÏ SPTUMJOZ CZMZ EÈOZ EP TUżFEOŞ WFMLâDI LFMÓNLƉ B VNÓTUŞOZ QPE äÈSPWLV T WâLPOFN XBUU OB IPEJO EFOOŞ 4LMFOÓLPWÈ TLżÓŵ NŞżÓ Y Y TUPQ Y Y DN 1PVäJUÈ [FNJOB CZMB VSŘFOB QSP LPOPQÓ %P [FNJOZ CZM QżJEÈO EBMÝÓ QFSMJU QSP MFQÝÓ QSPW[EVÝOŞOÓ #ZM QPVäJU PTDJMBŘOÓ WFO UJMÈUPS /FEPÝMP L äÈEOÏNV WZKÓNÈOÓ SPTUMJO 1żJCMJäOŞ QżJ EOJ LWFUFOÓ

4F[OBN SFLMBN 'JSNB

"UBNJ #BSOFZ T #JP #J[[ #JP #J[[ #JPQMBOUT #SOP #JPQMBOUT 0MPNPVD #VTIEPDUPS $BOOB $BOOBGFTU D[ $BTI $SPQ $FMMNBY $VMUJWB %FMJDJPVT 4FFET %VUDI 1SP &E 3PTFOUIBM 'FNBMF 4FFET (SFFO )PVTF (SPXMBOE (SPXNBOJB (SPXSPPN D[ (SPXTIPQ #JPUPQ (SPXTIPQ (SFFOIPNF (SPXTIPQ D[ (SPXTIPQ D[ (SPXTIPQ D[ (SPXTUBS (PME )FNQ 1BTTJPO )FTJ *OESBT 1MBOFU *OOPWBUJPO (BSEFO +PIOZ T $BOOBCJT 4FFET +PSHF $FSWBOUFT .MBEâ 1ŞTUJUFM .PVOUBJO )JHI .ZDPMPHJDT /BTI(SPX4IPQ D[ /BUVSBM 5FDIOPMPHJFT /BUVSBM 5FDIOPMPHJFT /JSWBOB 01 1BQJSOB 1( 8PSMEXJEF 1MBHSPO 1SPDBSF 3PZBM %VUDI (FOFUJDT 3PZBM %VUDI (FOFUJDT 3PZBM 2VFFO 4FFET 4BUJWB 4FFECBOL UIF 4FSJPVT 4FFET 4XFFU 4FFET 5"0 (SPX 4IPQ 5BPHSPXTIPQ D[

4USBOB

DFMâ EƉN PWMÈEM TJMOâ PEQPSOâ [ÈQBDI 1PVQBUB CZMB WZäJWPWÈOB QPV[F WPEPV EFO CZMZ LWŞUZ B TUJOOâ MJTU QPLSZUZ QSZTLZżJDÓ POŞNŞMJ KTNF 7ZQBEBMP UP äF QPVQBUB CVEF NPäOÏ WZLPVżJU EFO LBMJDIZ NPIVUOŞMZ B TF [SÈOÓN TF [BQMÏUBMZ 1BL CZMP NPäOÏ VDÓUJU PWPDOPV WƉOJ vISP[OƉi 1SPGJM UŞDIUP #% CZM IVTUâ T ÝJSPLâN TQJSÈMPWâN MJTUFN OB UMVTUâDI IMBWOÓDI WŞUWJŘLÈDI 7FOLPWOÓ #% CZMZ QżFTB[FOZ BTJ QP EOFDI +FEOB [ SPTUMJO CZMB TBNŘÓ /B KJOPV TF VQMBUOJMB UFDIOJLB -45 BCZ TF WZUWPżJMB CPOTBK T EWBOÈDUJ WŞUWJŘLBNJ 1żJ OBLWÏUÈOÓ #VCCMF %VTU UWPżÓ TLVUFŘOŞ LSÈTOÈ QPVQBUB *OEJDB OB LUFSÏ KF SBEPTU TF EÓWBU 5SWÈ DIWJMLV OFä QPVQBUB PTDIOPV QżJSP[FOPV DFTUPV ,PVżFOÓ #% NÈ PWPDOPV QżÓDIVƃ T UŞäLPV

5JSÈä 4PGU 4FDSFUT KF WZEÈWÈO %JTDPWFS 1VCMJTIFS #7 1 0 #PY "+ 7FHIFM /J[P[FNÓ 5FMFGPO

'BY

& NBJM D[!TPGUTFDSFUT OM ÀÏGSFEBLUPS $MJGG $SFNFS 3FEBLUPżJ +PSHF $FSWBOUFT &E 3PTFOUIBM #BSU # 8SBQJSJO 1SBTF +PTÏ B EBMÝÓ 1żFLMBEZ -FOLB "ESFTB WZEBWBUFMF 4PGU 4FDSFUT 1 0 #PY +( "NTUFSEBN /J[P[FNÓ & NBJM D[!TPGUTFDSFUT OM 3FLMBNZ & NBJM D[!TPGUTFDSFUT OM 'PUP OB PCÈMDF ! J4UPDLQIPUP DPN 4MPWP PE WZEBWBUFMF $ÓMFN 4PGU 4FDSFUT KF QżFEFWÝÓN JOGPSNPWBU ŘUFOÈżF P WÝFDI BTQFLUFDI LPOPQÓ W äÈEOÏN QżÓQBEŞ OFQPEQPSVKF KFKJDI VäÓWÈOÓ 3FEBLUPżJ 4PGU 4FDSFUT DIUŞKÓ QPTLZUOPVU TWâN ŘUFOÈżƉN WFÝLFSÏ JOGPSNBDF KFMJLPä VäÓWÈOÓ KBLÏLPMJW OÈWZLPWÏ MÈULZ KF OFCF[QFŘOÏ B QSPUP TF TOBäÓ P QżFEFWÝÓN PCKFLUJWOÓ JOGPSNBDF 4PGU 4FDSFUT KF QFSJPEJLVN LUFSÏ NJNP ėFTLÏ SFQVCMJLZ WZDIÈ[Ó W /J[P[FNÓ 7FMLÏ #SJUÈOJJ *UÈMJJ 1PMTLV B ÀQBOŞMTLV 7ZEBWBUFM OFOÓ [PEQPWŞEOâ [B PCTBI [WFżFKOŞOÏ SFLMBNZ B OÈ[PSƉ VWFżFKOŞOâDI W ŘBTPQJTF ėBTPQJT KF VSŘFO QSP PTPCZ TUBSÝÓ UJ MFU /JD [ UÏUP FEJDF OFTNÓ CâU EÈMF QPVäJUP CF[ TWPMFOÓ WZEBWBUFMF B EBMÝÓDI ESäJUFMƉ QSÈW /FWZäÈEBOÏ QżÓTQŞWLZ TF OFWSBDFKÓ

/ÈTMFEVKÓDÓ ŘÓTMP 44$; WZKEF QSPTJODF

SFMBYBŘOÓ QFDLPV 7 QP[BEÓ NƉäFUF DÓUJU #VCCMFHVN B QżÓDIVƃ CFO[ÓOV SPTUMJOZ "OHFM %VTU %PLPODF J KFNOŞKJ [BTUżJäFOâ MJTU OF QSTUZ OFKEżÓWF WZTVÝFOâ DIVUOBM QP PWPDJ B PLBNäJUŞ OBLPQM

6YNHUPJRm -HYTH 5H :LTxURH

3LQHDSSOH &KXQN

* +D]H

)ORZHU 3RZHU DXWR ÁRZHULQJ

0RUQLQJ *ORU\

6ZHHW 7RRWK

5HG 'LHVHO

5HG &KHUU\ %HUU\

3KDWW )UXLW\

1LJKW 6KDGH

%OXH &KHHVH

'U *ULQVSRRQ

+RQH\ %

/6'

7RS 'DZJ

8WRSLD +D]H

%DOO .XVK

9LRODWRU .XVK

$PQHVLD /HPRQ

$FDSXOFR *ROG

9DQLOOD .XVK

/DXJKLQJ %XGGKD

5HG 'UDJRQ

&ULPHD %OXH