Natur inguruneko udal-eskumenei buruzko gida

Page 1

ZKIA KO IRAILA

/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"


6%"-4"3&" &,0 -"/ ,0"%&3/0&/ #*-%6."3&/ "63,*#*%&" [FOCBLJB LP VSSJB

§ &"& LP 5PLJLP "HFOEB QSP[FTVBL B[UFSU[FB 0[UPQPBL FUB FTUSBUFHJB BSSBLBTUBUTVBL JEFOUJGJLBU[FB BVSSFSBQBVTP HFIJFO FNBO EJUV[UFO VEBMFSSJFUBO LVEFB EJU[BUFO¨

[FOCBLJB LP VSSJB

§0[UPQP FUB FTUSBUFHJBL FLJOU[B QMBOBL BCJBSB[UFLP #VMFHPBL FSFEVBL GPSNVMBU[FB¨

[FOCBLJB LP JSBJMB

§/BUVS JOHVSVOFLP VEBM FTLVNFOFJ CVSV[LP HJEB¨

"3(*5"3"-%*" B LP JSBJMB ‰ *)0#& *OHVSVNFO +BSEVLFUBSBLP 4P[JFUBUF 1VCMJLPB 6SLJYP ;VNBSLBMFB B #JMCBP 5FM … 'BYB XXX JIPCF OFU "3(*5"3"5;"*-&" *)0#& *OHVSVNFO +BSEVLFUBSBLP 4P[JFUBUF 1VCMJLPB %*4&*/6" &5" %*"(3".";*0" $BOBMEJSFDUP *5;6-1&/" &MIVZBS

*%";-& 5"-%&" &,*5"-%&" /"563 */(636" "MPOTPUFHJLP 6EBMB "NVSSJPLP 6EBMB "TQBSSFOBLP 6EBMB (PSEFYPMBLP 6EBMB -FHB[QJLP 6EBMB .VOHJBLP 6EBMB 0JBSU[VOHP 6EBMB (BTUFJ[LP 6EBMB ;BSBV[LP 6EBMB %FCFHFTB %FCB #FIFLP (BSBQFO "HFOU[JB *)0#& *OHVSVNFO +BSEVLFUBSBLP 4P[JFUBUF 1VCMJLPB *vJHP -B[DBOP 617 &)6

-&(& (03%"*-6" 9999999

6%"-4"3&" &,0 *EB[LBSJU[B 5FLOJLPB

&4,6#*%& (6;5*", &33&4&3#"565" %FCFLBUVUB EBHP QVCMJLB[JP IBV FSSFQSPEV[JU[FB JOGPSNB[JPB CFSSFTLVSBU[FLP TJTUFNFUBO HPSEFU[FB FUB QVCMJLB[JP IPOFO [BUJ CBU USBOTNJUJU[FB FSBCJMJUBLP CJUBSUFLPB FEP[FJO EFMB FSF FMFLUSPOJLPB NFLBOJLPB GPUPLPQJB HSBCB[JPB FUBC KBCFU[B JOUFMFLUVBMBSFO FTLVCJEFFO UJUVMBSSBSFO FUB FEJUPSFBSFO JEBU[J[LP CBJNFOJL HBCF


ZKIA KO IRAILA

/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"



"63,*#*%&"

PSSJBMEFB

4"33&3"

PSSJBMEFB

-633"-%& "/50-".&/%6"/ */(636.&/"3&,*,0 #"#&4"

PSSJBMEFB

PSSJBMEFB

PSSJBMEFB

PSSJBMEFB

-VSSBMEF BOUPMBNFOEVB FUB OBUVS JOHVSVOFB IBVTOBSLFUB PSPLPSSB -VSSBMEF BOUPMBNFOEVBSJ CVSV[LP FVTLBM MFHFEJBO JOHVSVNFOBSFO CBCFTB *OHVSV GJTJLPBSFO BOUPMBNFOEVB -VSSBMEF "OUPMBLFUBLP "SBVFUBO

)*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4" )JSJHJOU[B QMBOHJOU[B FUB JOHVSVOF OBUVSBMBSFO CBCFTB *OHVSVOF OBUVSBMBSFO FUB MVS[PSV IJSJF[JOBSFO CBCFTB )JSJHJOU[BLP MJ[FOU[JBL MVS[PSV VSCBOJ[BF[JOFBO

/"563 */(636/&"3&/ #"#&4" /BUVSB [BJOU[FBSJ CVSV[LP FVTLBM MFHFEJBL CBCFTUFO EJUVFO FTQB[JP OBUVSBMFO UJQPMPHJB 6SEBJCBJ #JPTGFSBLP &SSFTFSCB &"&LP 4BSF /BUVSB LP MFLVBL (VOF CFSF[J [FIBU[ CBUFO CBCFTB IJSJHJOU[B QMBOHJOU[B CFSF[J CBUFO CJEF[ 5YJOHVEJSFO LBTVB

&-&.&/56 ;&)"5; #"5;6&/ #"#&4" ,045"-%&", 63", *#"*", &5" &33&,", )&;&(6/&", .&/%*", 1"*4"*" &5" ,033*%03& &,0-0(*,0", ,PTUBMEFBL 6SFO IF[FHVOFFO FUB JCBJ FUB FSSFLB FSU[FO CBCFTB .FOEJBL 1BJTBJB FUB LPSSJEPSF FLPMPHJLPBL

50,*"/ 50,*,0 /"563 */(636/&" *,&35;&,0 ;"#"-5;&,0 &5" &#"-6"5;&,0 "%.*/*453";*0 5&,/*,",


$"1ร 56-0 4"33&3" 5*56-"3 $"1ร 56-0

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

TVTUBU[FLP GVOUTF[LP USFTOBL EJSB "JQBUVUBLP QMBOF UBO UPLJLP FSBLVOEFFL EBUP[FO VSUFFUBO FHJO CFIBSSF LP FLJOU[BL KBTP EJSB 5PLJBO UPLJBO MPSUV CFIBSSFLP IBJOCBU IFMCVSV FUB FLJOU[B EBVEF CFSUBLP LVEFBLFUB FUB QPMJUJLB JSBVOLPSUBTVOBSFO BMEF [V[FO EBEJO 1MBO IBVFO FMFNFOUVSJL HBSSBOU[JUTVFOFUBLP CBU UPLJBO UP LJLP OBUVS JOHVSVOFB LPOUTFSCBU[FLP FUB IPCFU[FLP IFM CVSVB EVUFO FLJOU[BL EFGJOJ[JPB FUB HBV[BU[FB J[BOHP EB ยงOBUVS JOHVSVOFBยจ LPOU[FQUVB BEJFSBSJL [BCBMFOFBO VMFSUVUB 6EBMTBSFB FO ,PBEFSOP IBV OBUVS JOHVSVOFBO VEB MFL EJUV[UFO FTLVNFOFJ CVSV[LP (JEBSFO MBCVSQFOB EB *OHVSVNFO &TQBSSV 1SPHSBNB TFSJFB [L #FSUBO FTQB[JPB FUB MBCVSU[FLP CFIBSSBL EJSFMB FUB BSHJUBMQFO IPOFUBO BJQBUV CBJOP FHJUFO F[ EJSFO BMEFSEJBL HBSB U[FO [FIB[UFO FUB PTBU[FO EJSB


-633"-%& "/50-".&/%6"/ $"1Ê56-0 */(636.&/"3&,*,0 #"#&4" 5*56-"3 $"1Ê56-0

-633"-%& "/50-".&/%6" &5" /"563 */(636/&" )"64/"3,&5" 030,033"

D -VSSBMEF 1MBO 4FLUPSJBMBL -14 MVSSBMEFBO FSBHJUFO EVUFOBL EJSB FUB &VTLP +BVSMBSJU[BLP IBJOCBU TBJMFL FUB CFIJO CFUJLP PSHBOP IPSSFL POBSUV CFIBS EJUV CFSF FTLVNFOFLP BSMPFUBO FEPUB MVSSBMEF IJTUPSJ LPFUBLP GPSV PSHBOPFL FTLVNFO QSPQJPBL EJUV[UFO BSMPFUBO FHJUFO EJUV[UF

-VSSBMEF BOUPMBNFOEVBL QMBOJGJLB[JPB CF[BMBLP PJOBSSJ[ LP USFTOBSFO CJEF[ BSSB[PJ[LP FSBCJMFSB F[BSSJ OBIJ EV CFSUBO CVSV EBJUF[LFFO KBSEVFSBL [FIB[UVUB FUB LPOUSP MBUVUB "OUPMBNFOEV IBV HV[UJ[ HBSSBOU[JUTVB EB [FOU[V [BCBMFBO OBUVS JOHVSVOF FEP JOHVSVOF GJTJLPBSJ EBHP LJPOF[ IPUT MVSSBMEFB PTBU[FO EVUFO CBMJBCJEF FUB FMF NFOUV NVMU[PBSJ EBHPLJPOF[

-VSSBMEFBO FSBHJUFO EVUFO -""FL -11FL -14FL FEPUB CFTUF FEP[FS QMBOFL [FJO QSPHSBNBL *OHVSVNFO *OQBL UVBSFO &CBMVB[JP #BUFSBUVB **&# KBSSBJUV CFIBS EVUF )PSJ &VTLBEJLP *OHVSVNFOB #BCFTUFLP -FHF 0SPLPSSFBO BVSSFJLVTUFO EB FUB V[UBJMBSFO LP %FLSFUVBL HBSBU[FO EV

-633"-%& "/50-".&/%6"3* #636;,0 &64,"- -&(&%*"/ */(636.&/"3&/ #"#&4"

*/(636 '*4*,0"3&/ "/50-".&/%6" -633"-%& "/50-",&5",0 "3"6&5"/

&VTLBEJLP -VSSBMEF "OUPMBNFOEVSBLP -FHFBSFO BSBCFSB MVSSBMEF BOUPMBNFOEVB POEPLP USFTOB QMBOJGJLBU[BJMFFO CJEF[ FHJUFO EB

" "3"6 030,033",

B BO POBSUVUBLP -VSSBMEF "OUPMBNFOEVSBLP "SBVFL -"" CFTUFMBLP MVSSBMEF QMBOHJOU[BSBLP USFTOBL PTB U[FLP FSSFGFSFOU[JB NBSLP OBHVTJB PTBU[FO EVUF CBJ UB IJSJ MFHFEJBO BVSSFJLVTJUBLP QMBOBL FSF C -VSSBMEF 1MBO 1BSU[JBMBL -11 -""FL [FIB[UVUBLP IB NBCPTU [POFUBO FEP VEBMF[ HBJOEJLP [POFUBO -""FL CFSBJFL HBSBU[FO EJUV[UFO MVSSBMEF QMBOHJOU[BSBLP USFTOBL EJSB [POB IPSJFUBLP CBLPJU[FBO BSBVFL F[B SSJUBLP BOUPMBNFOEV JSJ[QJEFBL [FIB[UVUB

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


-633"-%& "/50-".&/%6"/ */(636.&/"3&,*,0 #"#&4"

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± )JSJ QMBOHJOU[BL MVS[PSV VSCBOJ[BF[JOBSFO LBMJGJ LB[JPSBLP FSBCJMJ EJUVFO J[FOEBQFOBL IPNPHFOFJ [BU[FB ± -VSSBMEF FUB VEBM QMBOJGJLB[JPBO MVS[PSV IPSJFL BOUPMBU[FLP JSJ[QJEFBL F[BSU[FB MVS[PSV VSCBOJF[J OFBO FSBCJMFSBL FUB KBSEVFSBL BSBVUVUB %FGJOJUVUBLP FSBCJMFSBL POEPLPBL EJSB

" */(636.&/ #"#&4" POUTFSCB[JPB , *OHVSVNFO IPCFLVOU[B

# "*4*" &5" "54&%&/"-%*" &SBCJMFSB QVCMJLP FTUFOUTJCPB &SBCJMFSB QVCMJLP JOUFOUTJCPB +BSEVFSB [JOFHFUJLPBL FUB BSSBJO IB[LVOU[BSFLJO MPUVUBLPBL

$ #"-*"#*%& 13*."3*0&/ 645*"1&/" /FLB[BSJU[B /FHVUFHJBL "CFMU[BJOU[B #BTP FSBCJMFSB /FLB[BSJU[B JOEVTUSJBL "UFSBLVOU[B[LP KBSEVFSBL

% ";1*&(*563", (BSSBJPCJEFBL "JSFUJLP MJOFBL -VSQFLP MJOFBL " NPUBLP [FSCJU[V F[ MJOFBMFO JOTUBMB[JP UFLOJLPBL # NPUBLP [FSCJU[V F[ MJOFBMFO JOTUBMB[JP UFLOJLPBL )POEBLJO TPMJEPFO [BCPSUFHJBL

& )*3* )";,6/%&", "VSSFUJL KBEB CBEJSFO OVLMFPFUBO PJOBSSJUVUBLP IB[LVOEFBL "VSSFUJL KBEB CBEJSFO OVLMFPFUBO PJOBSSJU[FO F[ EJSFO IB[LVOEFBL &SBCJMFSB 1VCMJLPLP FUB *OUFSFT 4P[JBMEVO &SBJLJOBL #BLBOEVUBLP FUYFCJ[JU[B -6&O *OEVTUSJB FEP CJMLFUB BSSJTLVUTVBL

*OHVSVOF GJTJLPB BOUPMBU[FLP NBUSJ[FBO MVS[PSV VSCBOJ [BF[JOB BOUPMBU[FLP LBUFHPSJB CBLPJU[FLP -""FL [FIB[ UVUBLP UFSNJOPFUBO KBSEVFSB MVSSBMEF FSMB[JPB B[BMU[FO EB &SSFOLBEBL MVS[PSV NPUB IPSSFO BOUPMBLFUB LBUF HPSJBL FUB [VUBCFBL FHVOHP FSBCJMFSB FUB KBSEVFSBL [FJO QPUFOU[JBMBL HVSVU[BUVUB FSBCJMFSB FEP KBSEVFSB [FIBU[ CBU BVSSFSB FSBNBO EBJUFLFFO FEP F[ CBMEJOU[FJ CVSV[LP FNBJU[B MPSU[FO EB "OUPMBNFOEV LBUFHPSJBL FUB FHVOHP FSBCJMFSBL FEPUB QPUFOU[JBMBL HVSVU[BUVUB BUFSB EBJUF[LFFO FNBJU[BL MBV EJSB ± FSBCJMFSB FEP FLJOU[B FHPLJB EB ± FSBCJMFSB FEP FLJOU[B POBSHBSSJB EB ± BVSSFLP LBTVBO CF[BMBYF FSBCJMFSB POBSHBSSJB EB CBJOB HBSBU[FLF FEP KBEB PTBUVUB EBVEFO QMBO HJOU[B USFTOFUBO FEPUB FSSFHMBNFOEVFUBO BSBVUV CFIBS EB ± FSBCJMFSB FEP FLJOU[B EFCFLBUVUB EBHP

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


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

-""FO MPUVSB IBJOCBU NPEVUBO B[BM EBJUFLF FTQB[JPB SFO BOUPMBNFOEV FUB FSBCJMFSB JSJ[QJEFBL F[BSSJUB -""FL FHJUFO EJUV[UFO BOBMJTJ FUB CBMPSB[JPFLJO CBUFSBF[JOBL EJSFOBL CB[UFSUVUB POBSHBSSJBL EJSFO JSJ[QJEFFO BSUFBO BMUFSOBUJCBL B[BMEVUB FEPUB KBSEVOCJEFBL HPNFOEBUV UB )BMB FSF LBTV HV[UJFUBO -""FL FSB BSHJ FUB HBSCJBO B[BMEV CFIBS EVUF FCB[QFO HV[UJBL [FS OPSBCJEFUBO FHJOHP EVUFO MBO *OHVSVOF GJTJLPBSFO BOUPMBNFOEVBSJ EBHPLJPOF[ BQMJLB [JP [V[FOFLP EFUFSNJOB[JP MPUFTMFBL POEPLPBL EJSB ± (BJOB[BMFLP VSFO USBUBNFOEVBSFLJO [FSJLVTJB EVUFO "SBV 0SPLPS HV[UJBL

± 6EBMFSSJLP IJSJ QMBOHJOU[BL BUFSBLVOU[B[LP KBSEVF SBL FHJUFBHBUJL LBMUFUVUBLP [POBL BEJFSB[J CFIBSLP EJUVFOBSFO BVSSFJLVTQFOB CBJUB CFTUFMBLP FSBCJMFSBL J[BO EJU[BLFUFOBL FSF "VSSFJLVTQFOB "UFSBLVOU[B[LP +BSEVFSFJ CVSV[LP "SBV 0SPLPSSF UBO EBHP ± /FLB[BSJU[BSFLJO MPUVSBSJL F[ EVUFO FUYFCJ[JU[B CB LBOEVBL MVS[PSV VSCBOJ[BF[JOFBO FSBJLJU[FLP EF CFLVBSFO BVSSFJLVTQFOB "VSSFJLVTQFOB )JSJ +BS EVFSFO FUB &SBJLVOU[B "SMPLPFO "SBV 0SPLPSSFUBO EBHP

± #BCFT CFSF[JLP MVS[PSV VSCBOJ[BF[JOFO BOUPMBNFOEV LBUFHPSJB BSBVU[FLP PJOBSSJ[LP JSJ[QJEFBL EFGJOJ[JPB FSBCJMFSB JSJ[QJEF PSPLPSSB TVFSUBUVUBLP KBSEVFSBL POBSHBSSJBL FUB EFCFLBUVBL

± &LJOU[B QPTJUJCPLP OFVSSJFO CBSOFBO KBSEVUF QSPQPTBNFOBL POEPLPBL TBSU[FB FHVOEBJOP CBCFTUVUBLP OBUVSHVOFFO [FSSFOEB BOUPMBNFO EVBSFO FUB LVEFBLFUBSFO JHPSU[FB BSBVEJ FTQF[JGJ LPSB FUB FUPSLJ[VOFBO [FSSFOEB IPSJ PTBU[FLP BVLFSB

± (BJOB[BMFLP VSFO CBCFTFSBLP MVS[PSV VSCBOJ[BF[JOFO "OUPMBNFOEV ,BUFHPSJB BSBVU[FLP PJOBSSJ[LP JSJ[QJ EFBL EFGJOJ[JPB FSBCJMFSB JSJ[QJEF PSPLPSSB KBSEVFSB FHPLJBL POBSHBSSJBL FUB EFCFLBUVBL

&CB[QFO MPUFTMF IPSJFL CFSFIBMBLP BQMJLB[JPB EVUF -""BL JOEBSSFBO KBSU[FO EJSFO VOFUJL BVSSFSB BQBSUF VU[JUB VEBMFSSJBSFO IJSJ QMBOHJOU[BL IPSJFUBSB HFSPSB J[BOHP EVFO NPMEBLFUB


)*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4"

&VTLBM "VUPOPNJB &SLJEFHPBL MFHFEJ QSPQJPB EBVLB IJSJ HJOU[B BSMPBO -VS[PSVBSJ FUB )JSJHJOU[BSJ CVSV[LP -FHFB FLBJOBSFO FLPB -FHF IPOFL IFJO IBOEJ CB UFBO OBUVS JOHVSVOFB CBCFTUFLP IJSJHJOU[BSFO FLJUFLP BVLFSBL JOEBSU[FO EJUV FUB IJSJHJOU[BLP QSJOU[JQJP OBHV TJ HJTB HBSBQFO JSBVOLPSSB TVTUBU[FO EV 9FEFB QFSUTPOB HV[UJFJ OBUVSB[ FUB QBJTBJB[ F[ F[JL POEBSF LVMUVSBMB[ BSLFPMPHJLPB[ IJTUPSJLPB[ BSUJTUJLPB[ FUB BSLJUFLUPOJ LPB[ FSF HP[BU[FLP CJEFB FTLBJOU[FB EB

)*3*(*/5;" 1-"/(*/5;" &5" */(636/& /"563"-"3&/ #"#&4" " &(*563" "/50-",&5" &5" -63;036 63#"/*;"&;*/&"/ %6&/ &3"(*/"

)JSJHJOU[B QMBOHJOU[BLP FHJUVSB[LP BOUPMBNFOEVBL )JSJ "OUPMBNFOEVSBLP 1MBO 0SPLPSSFBO FEPUB "SBV 4VCTJEJBSJPFUBO [B[QJ EFUFSNJOB[JP OBHVTJ IBSU[FO EJUV CBSOF VEBMFSSJ PTPSBLP ± )JSJBSFO CJMBLBFSBSFO FUB MVS[PSVBSFO PLVQB[JPBSFO FTUSBUFHJB ± 6EBMFSSJ PTPLP MVS[PSVBSFO TBJMLBQFOB VSCBOPB VSCBOJ[BHBSSJB FUB VSCBOJ[BF[JOB ± *OHVSVNFOB CBCFTUFLP OBUVSB LPOUTFSCBU[FLP QBJ TBJB FUB FMFNFOUV OBUVSBMBL [FJO BSUJGJ[JBMBL EFGFOEB U[FLP JMEP OBHVTJBL CFSF[JLJ LVMUVS POEBSFBSJ EBHP[ LJPOBL

)JSJ "OUPMBNFOEVSBLP 1MBO 0SPLPSSBL FUB "SBV 4VCTJEJB SJPBL POBSU[FB CBJUB IPSJFO BMEBLFUBL FSF MVS[PSV VSCB OJ[BF[JOBSJ FSBHJUFO CBEJPUF "[LFOFLP LBTV IPSSFUBO *OHVSVNFO *OQBLUVBSFO &CBMVB[JP #BUFSBUVBSJ **&# KB SSBJUV CFIBSLP EJPUF )JSJ "OUPMBLFUBLP 1MBO 0SPLPSSFO FEVLJBSJ CVSV[LP MF HF[LP IBJOCBU FTLBLJ[VOFL OBIJ[ FUB CFSF[ F[ J[BO MVS [PSV VSCBOJ[BF[JOBSJ CVSV[LPBL [FIBSLBLP FSBHJOB J[BO EF[BLFUF OBUVS JOHVSVOFBSFO CBCFTFBO )BMB IPOBLP IBVFL BJQB EBJUF[LF IJSJHJOU[BSFO JLVTQVOUVUJL HBSB UVBL J[BOHP EJSFO FSFNVFOU[BU FSBJLJ EBJUF[LFFO HFIJF OF[LP LPQVSVB FUB CBUF[ FSF HVUYJFOFLPB F[BSU[FB IPSSFMB OBUVS JOHVSVOFLP FTQB[JPBSFO PLVQB[JP QPTJ CMFSB JSJTUFB NVHBUVLP EB FSFNV CFSEFBL FUB IJSJ QBS LFBL FSBCJMU[FLP QMBOHJOU[BO BEJFSB[J CF[BMB CJ[UBOMF CBLPJU[FLP CPTU NFUSP LPBESP CBJOP HVUYJBHP F[ EJUVFO MVS[PSVB FTQB[JP MJCSFFUBSB CJEFSBU[FLP CFUFCFIBSSB FUB YFIFUBTVOF[LP BOUPMBLFUBO 1MBO 0SPLPSSBSFO HBSB QFOBL CFSEFHVOF FUB FTQB[JP MJCSFFUBSBLP HVUYJFOFLP FSSFTFSCB IPSJ [BCBMEV CFIBS EV FUB CBSOF IBSUV CFIBS EV [VIBJU[ CBU MBOEBUV FEP LPOUTFSCBU[FB FUYFCJ[JU[B CFSSJ CBLPJU[FLP FEP IJSVHBSSFO [FJO JOEVTUSJB TFLUPSF SBLP FSBJLJUBLP FIVO NFUSP LPBESPLP

# 1-"/ #&3&;*", &5" */(636/& /"563"-"3&/ #"#&4" -VS[PSV FUB )JSJHJOU[BSFO HBJOFLP -FHFBL CBS OF IBSU[FO EV 1MBO #FSF[JFO GJHVSB 1MBO 0SPLPSSFO FHJ UVSB[LP BOUPMBLFUB HBSBU[FLP FHJOEB CBEBVEF FEP IBSFLJO [FSJLVTJB CBEVUF CBMEJO FUB IJSJHJOU[B FSBJ LJHBSSJUBTVOB BMEBUV HBCF YFEF IBVFUBLPSFO CBU CBEVUF


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

*UTBTFSU[B BOUPMBU[FB

"VSSFLPFO BOU[FLP CFTUF FEP[FJO

#BSSVUJ FUB NVMU[P IJTUPSJLPBL FUB BSUJTUJLPBL BOUP MBU[FB FUB JOUFSFT LVMUVSBM FEP BSLJUFLUPOJLPB EVUFO FSBJLJOBL LPOUTFSCBU[FLP FEP CJSHBJU[FLP [FIB[UBQF OBL F[BSU[FB 1BJTBJB FUB OBUVS JOHVSVOFB CBCFTUFB FUB IPCFU[FB FUB VEBMFSSJLP MBOEB HVOFBL NVHBU[FB FUB BOUPMBU[FB )FSSJ B[QJFHJUVSB FUB [V[LJEVSFO GVOU[JPOBMUBTVOB CBCFTUFB )JSJ FEP MBOEB JOHVSVOFB LPOUTFSCBU[FB FUB IPCFU[FB )JSJ IPCFU[F FUB CFSSJU[FB MPSU[FLP PQFSB[JPBL FUB IJSJ MVS[PSVBO IFSSJ [V[LJEVSBL TPSU[FB " [QJFHJUVSBL [V[LJEVSBL FUB IPSOJEVSBL F[BSSJ FUB [FIB[UFB FUB MVS[PSV VSCBOJ[BF[JOBSJ FSBHJOF[ HFSP BVSSFJLVTJUBLP NVHBL FSSFTQFUBU[FB

1MBO #FSF[JFO POBSQFOBL FUB MVS[PSV VSCBOJ[BF[J OFBO FSBHJUFO EVUFO BMEBLFUFOBL *OHVSVNFO *OQBL UVBSFO &CBMVB[JP #BUFSBUVB **&# KBSSBJUV CFIBSLP EVUF

*/(636/& /"563"-"3&/ &5" -63;036 )*3*&;*/"3&/ #"#&4" &VTLBEJLP -VS[PSVBSFO FUB )JSJHJOU[BLP -FHFBSFO BSBCFSB MVS[PSV CBU VSCBOJF[JO HJTB TBJM LBU[FLP POEPLP JSJ[QJEFBL BQMJLBUVLP EJSB JLVT LPBESPB

,URZORU URBANIZAEZIN GISA ANTOLATZEKO IRIZPIDEAK

#BCFT FSSFHJNFO CFSF[J CBUFBO CBMEJO CBEBVEF MVSSBMEFB BOUP MBU[FLP FEP[FJO USFTOBSJ KBSSBJLJ FEP BSMP[ BSMPLP MFHFEJB BQMJLB U[FBSFO FSBHJO [V[FOBHBUJL FEP IJSJHJOU[B BOUPMBLFUBL IPSSFMB TBJMLBU[FO EJUVFMBLP CFSFO OFLB[BSJU[B CBTPHJOU[B FEP BCFMU[BJO U[B CBMJPBHBUJL OBUVS CBMJBCJEFBL VTUJBU[FLP BVLFSFOHBUJL FEP CFSFO QBJTBJB IJTUPSJB FUB LVMUVS CBMJPFOHBUJL IBMB OPMB GBVOB GMPSB FEP PSFLB FLPMPHJLPB CBCFTUFLP EVUFO CBMJPBHBUJL

-633&/ )*3*(*/5;" &3"-%",&5" %&4&(0,*" *;"5&"

"SMP[ BSMPLP MFHFEJBSJ KBSSBJLJ IJSJHJOU[B FSBMEBU[FLP EFCFLVBSJ MPUVUB CBEBVEF KBCFU[B QVCMJLPLP FMFNFOUVBL CBCFTUFLP FEP [BJOU[FLP )JSJHJOU[B FSBMEBLFUBL FHJB[LP BSSJTLV IBVFL FLBSU[FO CBEJUV FEP F[ CBEJUV EFTBHFSSBSB[UFO IJHBEVSB IBSSJ BTLBU[FBL MVJ[JBL TVUFBL VIPMEFBL FUB CFTUF BSSJTLV OBUVSBM FEP UFLOPMPHJLP IBOEJ CBU[VL CFSF[JLJ IPOEBNFOEJBL #FIBSSF[LPB EFOFBO IPSJFO F[BVHBSSJFJ FVTUFB IFSSJLP FEP IFSSJ JOUFSFTFLP B[QJFHJUVSBL [FSCJU[VBL [V[LJEVSBL FEP IPSOJEVSBL PTPSJL CBCFTUFLP

-633", %&4&(0,*", *;"5&" )*3* ("3"1&/&3",0

)JSJHJOU[B HBSBQFO FSFEVBSFO JSBVOLPSUBTVOFSBLP UPLJLP FTUSBUF HJB FSSFTQFUBUVLP EFMB CFSNBU[FLP IBJFO MBOEB J[BFSBSJ FVTUFB CFIBSSF[LP FHJUFO EVUFO F[BVHBSSJBL 5PLJLP MFIFO NBJMBLP TFLUPSF FLPOPNJLPB TVTUBU[FLP FTLBLJ[VO CFSF[JBL CFSF[JLJ MFIFO NBJMBSJ MPUVUB FHPUFB KVTUJGJLBU[FO EVUFO F[BVHBSSJ HFPHSBGJLP FEP KBUPSSJ J[FO F[BHVOBL EJUV[UFO VEBMFSSJFUBO


4"33&3" )*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4"

-VS[PSV VSCBOJ[BF[JOBSFO KBCFU[BUJL FSBUPSSJUBLP BIBM NFOBL [FJO EJSFO -VSSBMEF "OUPMBNFOEVSBLP "SBVFL -"" FUB HBJOFSBLP MVSSBMEF [FJO IJSJHJOU[B QMBOHJOU[FL BSBVUVLP EVUF +BSEVFSB IPSJFUBO BSJU[FLP CJUBSUFLP UFL OJLPBL FUB JOTUBMB[JP PIJLP FUB FHPLJBL FSBCJMJ BIBM J[BO HP EJSB /PMBOBIJ FSF KBSEVUF IPSJFL F[JOHP EVUF IJSJHJO U[B FSBMEBLFUB FSBHJO FEP MVS[PSVBSFO FSBCJMFSB BMEBUV (BJOFSB CBMEJOU[B FEBGPMPHJLPBL FUB FLPMPHJLPBL CBCFT UFB BIBMCJEFUV CFIBSLP EVUF IBMB OPMB CFSNBUV IJHB EVSB VIPMEF FEP TVUF BSSJTLVBL [FJO IFSSJ TFHVSUBTVOF SBLP FEP PTBTVOFSBLP BSSJTLVBL TBJIFTUVLP EJUV[UFMB -BOEB OVLMFPBL EFJUVSJLPFL FSSFHJNFO CFSF[JB EBVLB UF )PSJFUBO KBCFFJ FSBJLJU[FLP [FOCBJU BIBMNFO BJUPS U[FO [BJ[LJF LBTV CBU[VFUBO MVS[PSV VSCBOJ[BF[JOB J[BO BSSFO OFLB[BSJU[B FUB BCFMU[BJOU[B FSBCJMFSBSJ OBIJUBF[ MPUVUB FHPO HBCF -FHFBSFO BSBCFSB MBOEBHVOFB CBTFSSJ[ PTBUVUBLP NVMU[P CBU EB OPSUBTVOB FNBUFO EJFO IFSSJHVOF CBUFO JOHVSVBO CJMEVUB EBHP FUB HVUYJF OF[ TFJ CBTFSSJ FUB HFIJFOF[ IPHFJUB CPTU EJUV -BOEB HVOFLP MVS[PSV VSCBOJ[BF[JOFBO QMBOHJOU[BL F[JOHP EV FSBJLJUBLP FSFNVB IBOEJU[FB FSBHJO FUB FUYFCJ[JU[B CFSSJFO LPQVSVB F[JOHP EB J[BO BVSSFUJL EBHPFOBSFO FUJL HPSBLPB &SB CFSFBO FHVOHP FUB BVSSFJLVTJUB LP CBTFSSJ HV[UJFO HFIJFOF[LP LPQVSVB F[JOHP EB J[BO IPHFJUB CPTUFUJL HPSBLPB

)*3*(*/5;",0 -*;&/5;*", -63;036 63#"/*;"&;*/&"/

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

" &33&(*.&/ 030,033" -VSSBSFO FSBCJMFSB FUB KBSEVFSB NPUB KBLJO CBU[VFUBSBLP MVS[PSV NPUB HPSBCFIFSB VSCBOPB VSCBOJ[BHBSSJB FEP VSCBOJ[BF[JOB CFIBSSF[LPB EB VEBMBL BMEF[ BVSSFUJL IJSJHJOU[B MJ[FOU[JB FNBUFB #BJNFOB CFIBS EVUFO FLJO U[FO [FSSFOEB [FIBU[B -FHFBL F[BSSJB EB IJSJ HJOU[BLP VEBM QMBOHJOU[BL [FSSFOEB IPSJ [BCBM EF[BLFFO BSSFO 6EBMF[ HBJOEJLP JOUFSFT PSPLPSSFLP IFSSJ MBO KBLJO CB U[VL FHJO CFIBS J[BOF[ HFSP BEJCJEF[ QPSUVBL BJSF QPSUVBL BVUPCJBL FUB BVUPCJEFBL BCJBEVSB IBOEJLP USFOBL VSUFHJBL FUB BCBS BSMP[ BSMPLP BSBVUFHJBSFO BSBCFSB FSBCBLJLP EV 6EBMBL IJSJHJOU[B MJ[FOU[JB FTLB UV CFIBS EVFO FEP F[ "EJCJEF[ &VTLBM "VUPOPNJB &SLJEFHPLP -VSSBMEF "OUPMBNFOEVBSJ CVSV[LP -FHFBSFO BSBCFSB CBUJL CBU MVSSBMEFBSJ EBHP[LJPO IFSSJ MBOFL MVSSBMEF QMBO TFLUPSJBMFUBO BHFSU[FO EJSFOBL FUB &VTLBM "VUPOP NJB &SLJEFHPLP -VSSBMEF "OUPMBNFOEV SBLP #BU[PSEFBL IBMB EFLMBSBUV EJUVFOBL F[ EVUF VEBM MJ[FOU[JBSJL CFIBS

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


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

D "VSLF[UVUBLP B[LFO FSSFOUB BJUPSQFOFBO FTLBU[BJMFB SFO EJSV TBSSFSB BSSVOUFO CBJOP HFIJBHP CBSB U[F[BJOU[B FEP BCFMU[BJOU[B KBSEVFSBSFO VTUJBQFOF UJL EBUP[FMB )BMB FSF MJ[FOU[JB IBVFL FSBCJMFSB IPSJ EBHPLJPO OFLB[B SJU[BLP [FJO BCFMU[BJOU[BLP VTUJBLFUB FLPOPNJLPBSJ FEPUB MBOEB HBSBQFOFLP CFTUF FSBCJMFSBSFO CBUJ MPUVUB FVTUFLP MFHF CBMEJOU[B CFUF CFIBSLP EVUF NPEV KBSSBJBO FUB FUF OJL HBCF HVUYJFOF[ VSUFBO

% #"4&33*", #&33&3"*,*5;&,0 -*;&/5;*" #BTFSSJ CBUFO CFSSFSBJLVOU[B CBJNFOU[FLP F[JOCFTUF LPB J[BOHP EB IPSSFL CBTFSSJ HJTB JEFOUJGJLBU[FLP NPEVB FNBUFO EVFO FHJUVSB CBUJ FVTUFB *OPJ[ FSF F[JOHP EJSB CFSSFSBJLJ FSBJLVOU[BL IBJFO NVSSVFO IPOEBSSBL KBUP SSJLPFO HBJMVSSFSB JSJTUFO F[ CBEJSB FUB PSP IBS IPOEB LJOFL F[ CBEVUF NPEVSJL FNBUFO KBUPSSJLP FSBJLJOBSFO PJOQMBOP PSPLPSSB FUB IBTJFSBLP CPMVNFUSJB F[BHVU[FLP


/"563 */(636/&"3&/ #"#&4"

/BUVSHVOF CBU KVSJEJLPLJ CBCFTUVUBLPB EFMB FTBO EBJ UFLF POEPLP CBMEJOU[BL KB[PU[FO CBEJSB FSFNV [FIBU[ FUB NVHBUV CBU CBLBOU[FB IPS FHJO CFIBSSFLP FSBCJMF SFO FUB KBSEVFSFO BSBVUFHJB J[BUFB JOHVSVNFO FEP OBUVS CBMJP FTBOHVSBUTVBL J[BUFB FUB CBUF[ FSF CFSF[J J[BFSB CFSBSJB[ BEJFSB[JUB J[BUFB

/"563" ;"*/5;&"3* #636;,0 &64,"- -&(&%*", #"#&45&/ %*56&/ &41";*0 /"563"-&/ 5*10-0(*"

&"&LP HVOFBL CBCFTUFLP BOBMJTJBL J[BEJB QBSLF OBUV SBMBL CJPUPQP CBCFTUVBL FUB [VIBJU[ BQBSUFLPBL LPOUTFSCBU[FLP MFHFEJBO CJMEVUBLPBO CBJOP F[ EV PJOBSSJUV CFIBS CBCFT NPUB IPSJ FNBUFO EJPUFO BQBS UFLP MFHFSFO CBU 6SEBJCBJLP #JPTGFSB &SSFTFSCB FEPUB QMBOHJOU[B CFSF[JSFO CBU 5YJOHVEJ EVUFO HVOFFUBO FUB HVSF "VUPOPNJB &SLJEFHPBO LPLBUVUB /BUVSB TBSFLPBL J[BUFLP &VSPQBLP BSBVEJBL TVTUBUVUB TPSUVUBLP FTQB[JPBL EJSFO HVOFFUBO )FHB[UJFO #BCFT #FSF[JLP &SFNVBL ,POUTFSCB[JP #FSF[JLP &SFNVBL FUB (BSSBOU[J ,PNVOJUBSJPLP -FLVBL (VOF IPSJFLJO HV[UJFLJO CBUFSB HFSUVUBTVOBHBUJL LP -VSSBMEF "OUPMBNFOEVSBLP "SBVFL F[BSSJUBLP /BUVSB *OUFSFTF LP (VOFBL FSF BJQBUV CFIBS EJSB (VOF IPSJFL J[BEJB LPOUTFSCBU[FLP MFHFEJBL TPSUVUBLP GJHVSB CFSF[JSFO CBUFO POEPSJP[ FUPSLJ[VOFBO #BCFTUVUBLP /BUVSHVOF J[FOEBUVLP EJUV[UF FEPUB MVSSBMEF FEP IJSJHJOU[B QMBOHJOU[BSFO CJEF[ CFSF[JLJ CBCFTUVUBLP HVOF J[BUFSB JHBSPLP EJSB

" 4"*-,"1&/"

#FTUBMEF FTQB[JP HVOF FUB MFLV IPSJFL BO &VTLB EJLP *OHVSVNFOB #BCFTUFLP -FHF 0SPLPSSBL TPSUVUBLP *OHVSVNFOBSFO "MEFUJL 4FOUJLPSSBL EJSFO (VOFFO [BUJ EJSFMB VMFSUV CFIBS EB )BMB QSPJFLUV KBLJO CBU[VFO JOQBLUVB CBOBLB CBMJP[UBU[FLP CFIBSSBSJ EBHPLJPOF[ -FHF IPSSFUBO F[BSSJUBLP POEPSJP CFSBL J[BOHP EJUV[UF FUB KB[PFSB IPSJ HVOF IPSJFUBO HFSUBU[FO EJSFO JOHVSV NFO BSMPLP BSBV IBVTUFFUBO MBSSJHBSSJ HJTB LPOUVBO IBS U[FLP BVLFSB FHPOHP EB

-FHFBL FLBJOBSFO FLPBL &VTLBM "VUPOPNJB &SLJEFHPLP /BUVSB #BCFTUFBSJ CVSV[LPBL IJSV OBUVSHV OF CBCFTUV NPUB [FIB[UFO EJUV 1BSLF OBUVSBMBL CJPUP QP CBCFTUVBL FUB [VIBJU[ BQBSUFLPBL

1BSLF /BUVSBMBL 1BSLF OBUVSBMBL VTUJBQFOBL FEP HJ[B PLVQB[JPBL FSBM EBUV HBCFLP FSFNVBL EJSB 1BJTBJFO FEFSUBTVOBSFO HBUJL FLPTJTUFNFO BEJFSB[HBSSJUBTVOBSFOHBUJL OBIJ[ GBVOBSFO GMPSBSFO FEP FSBLFUB HFPNPSGPMPHJLPFO CFSF[JUBTVOBSFOHBUJL CFSFJ[UFO EJSB "HJOUF QVCMJLPFL FTLV IBSUV CFIBS EVUF CBMJBCJEF OBUVSBMBL FSB PSEF OBUVBO BQSPCFUYBU[FB FUB FSBCJMFSB QVCMJLPB FNBUFB CBUFSBHBSSJBL J[BO EBJUF[FO CBMJP FLPMPHJLPBL FTUF UJLPBL FEP IF[LVOU[BLPBL LPOUTFSCBU[FBSFLJO FUB MFIFOFSBU[FBSFLJO /BUVSHVOF CBU QBSLF OBUVSBM J[BO EBEJO &VTLP +BVS MBSJU[BL IBMB EFLMBSBUV CFIBS EV CFSBSJB[ )PSSFUBSB LP MFIFOFOHP 1BSLF /BUVSBMFUBLP #BMJBCJEF /BUV SBMBL "OUPMBU[FLP 1MBOB POBSUV CFIBS EV FUB HFSP EFLSFUVB FHJO 0SBJOHP[ CFEFSBU[J QBSLF OBUVSBM EBVEF &"&O 6SLJPMB 7BMEFSFKP "SBMBS (PSCFJB "JBLP )BSSJB *[LJ 1BHPFUB "J[LPSSJ "SBU[ FUB "SNBvPO


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

#JPUPQP CBCFTUVBL #JPUPQP CBCFTUVBL EJSB PJOBSSJ[LP BSBVUFHJBO FSSFTFS CB OBUVSBM NPOVNFOUV OBUVSBM FEP QBJTBJB CBCFTUVB J[FOEBQFOB EVUFO OBUVSHVOFBL #JPUPQP CBCFTUVBL TPSU[FBSFO IFMCVSVB IBVYF EB FLPTJTUFNBL LPNV OJUBUFBL FMFNFOUV CJPMPHJLPBL JOUFSFT HFPMPHJLPLP FSFNVBL OBIJ[ OBUVS JOHVSVOFFUBLP UPLJ [FIBU[BL FEP CFSF[JUBTVO OBCBSNFOB BSSBSPUBTVO FEFSUBTVO JLVTHBSSJ FEP BHFSJLP JOUFSFT [JFOUJGJLPB EVUFO FSBLF UBL CBCFTUFB "SSBSPBL BIVMBL HBSSBOU[JUTVBL FEP CFSF[JBL EJSFMBLP CBMJP CFSF[JB FNBUFO [BJF #JPUPQP CBCFTUV J[FOEBQFOB MPSU[FLP QSP[FEVSBO OBIJUBF[ TBSUV CFIBS EB JOUFSFTEVOFO FOU[VOBMEJB (BJOFSB FSBHJOEBLP HJ[BSUF FUB FSBLVOEF JOUFSFTFO UJUVMBSSFJ HBMEFUV FHJO CFIBS [BJF CFTUFBL CFTUF KBLJ OB VEBMFJ FUB MBOLJEFU[B FTLBUV #JPUPQP EFLMBSB U[FLP EFLSFUVB POBSUV BVSSFUJL &VTLBM )FSSJLP /BUVSB ;BJOU[FLP "IPMLV #BU[PSEFBL /BUVS[BJOU[B UYPTUFOB FHJO CFIBS EV (BVS FHVO &"&O CPTU CJPUPQP CBCFTUV EBVEF *UYJOBLP NFOEJNVMU[PB -FJU[BSBO JCBJB (VBSEJBLP BJOU[JSBL *OVSSJU[B FUB (B[UFMVHBUYF

;VIBJU[ BQBSUFLPBL ;VIBJU[ BQBSUFLPBL EJSB F[BVHBSSJ F[PIJLPBL FEP OB CBSNFOBL EJUV[UFOBL UBNBJOB BEJOB IJTUPSJB FEFSUBTVOB LPLBMFLVB FUB BCBS FUB IPSSFYFHBUJL JOHVSVNFO CBCFT CFSF[JB NFSF[J EVUFOBL *[FOEB QFO IPSSFLJO [VIBJU[ CBLBOEVBL CBCFTUFO EJSB FUB F[ FTQF[JFBL PSPLPSSFBO ;VIBJU[ BQBSUFLPFO J[FOEB QFOFBO BEJFSB[J FHJO CFIBS EJSB FHPLJ CBCFTUFLP CFIBSSF[LPU[BU KPU[FO EJSFO NVHB HFPHSBGJLPBL CBJ FUB IPSJFUBO FHJUFO EJSFO FSBCJMFSB FUB KBSEVFSBL BSBV U[FLP BSBVUFHJBL FSF 0SBJO BSUF BJUPSUVUBLP [VIBJU[ BQBSUFLPBL EJSB FUB EFTLBUBMPHB[JP CBLBSSB HFS UBUV EB

# 1-"/*'*,";*0" #BMJBCJEF /BUVSBMBL "OUPMBU[FLP 1MBOBL #/"1

#/"1BL FHJO EBJUF[LF CBMJBCJEF OBUVSBMU[BU KPU[FO EFO FEP[FJO FMFNFOUVUBO HBSBU[FO EJSFO FSBCJMFSB FUB KBSEVFSB HV[UJBL FSSFHVMBU[FLP /PMBOBIJ FSF PIJLPF OB EB #/"1BL POBSU[FBSFLJO CBUFSB FSFNV KBLJO CBU OBUVSHVOF CBCFTUV EFLMBSB EBEJO IBJO [V[FO FSF IPSJ BVSSFUJLP GBTFB CBJUB #/"1BL &VTLP +BVSMBSJU[BSFO EFLSFUV[ POBSU[FO EJSB FUB POBSU[FO EJUVFO EFLSFUVBO CFSUBO KBTPU[FO EFO FSBHJOB EVUF ;FIB[LJ CJ BVLFSB CFSFJ[J CFIBS EJSB

± /BUVSB CBCFTUFBSFLJO FUB HPSEFU[FBSFLJO [V[F OFBO [FSJLVTJB EVUFO HBJFJ EBHPLJFOF[ #/"1BL EFSSJHPSSF[LPBL FUB CFUFBSB[MFBL EJSB ,BTV IPSSF UBO CFSF YFEBQFOFL NVHBUV FHJUFO EJUV[UF MVSSBM EF BOUPMBNFOEVLP FEP BOUPMBNFOEV GJTJLPLP CFTUF FEP[FJO USFTOB *[BO FSF IBJFO [FIB[UBQF OFL F[JO EJUV[UF #/"1FUBLP YFEBQFOBL BMEBUV ±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

&SBCJMFSB FUB ,VEFBLFUB ;V[FOU[FLP 1MBOB &,;1

1BSLF OBUVSBM CBU EFLMBSBUVUBLPBO FUB EFLMBSB[JP IPSSFO BVSSFUJL POBSUV CFIBSSFLP #/"1 POBSUV FUB VSUFCFUFLP FQFBO QBSLF OBUVSBMBSFO &SBCJMFSB FUB ,VEFBLFUB ;V[FOU[FLP 1MBOB &,;1 FHJO CFIBS EB &,;1BL IJFSBSLJBSFO BMEFUJL 1BSLF /BUVSBMFUBLP #/"1FUBO F[BSSJUBLP [FIB[UBQFOFO B[QJUJL EBVEF CBJOB IJSJHJOU[B QMBOFBNFOEVBSFO HBJOFUJL )BSUBSB &,;1SFO [FIB[UBQFOBL CBUFSBF[JOBL EJSFOFBO JOEB SSFBO EFO IJSJHJOU[B QMBOFBNFOEVBSFLJO PGJ[JP[ CFSSJLVTJLP EVUF PSHBOP FTLVEVOFL

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


4"33&3" )*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4" /"563 */(636/&"3&/ #"#&4"

&VTLP +BVSMBSJU[BSFOB FSBHJOEBLP GPSV BMEVOEJFO QBSLF OBUVSBMBL LVEFBU[FO EJUV[UFO TBJMFOB FSBHJOEBLP VEBMFOB FUB UPLJBO UPLJLP FSBLVOEFFOB FSBHJOEBLP FTLVCJEFFO UJUVMBSSFOB JOHVSVNFOBSFO B[UFSLFUBO FUB CBCFTFBO BLSFEJUBUVUBLP JCJMCJEFB EVUFO FMLBSUFFOB MBCPSBOU[B TJOEJLBUVFOB FUB CBTP KBCFFO TJOEJLBUVFOB

63%"*#"* #*04'&3",0 &33&4&3#" &SFNV IPSJ HVOF CBCFTUVBSFO LPOU[FQUV [BCBMFBO CBS OF IBS EBJUFLFFO BSSFO 6SEBJCBJLP #JPTGFSB &SSFTFSCB #BCFTUFLP FUB "OUPMBU[FLP -FHFBO V[UBJMBSFO LPBO KBTPUB EBHPFOBSJ KBSSBJLJ BOUPMBU[FO FUB BSBV U[FO EB 4PSUVUBLP CJPTGFSB FSSFTFSCB LBUFHPSJB F[ EB FHPLJU[FO &VTLBM "VUPOPNJB &SLJEFHPLP /BUVSB ,POUTFSCBU[FLP -FHFSB FLBJOBSFO FLPSB )BJO [V[FO FSF (J[BLJB FUB #JPTGFSB OB[JPBSUFLP QSP HSBNBO PJOBSSJU[FO EB .B# .BO BOE #JPTQIo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ยง/BUVSB ยจ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


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

CBEB MFIFO NBJMBLP JOUFSFT QVCMJLPLP BSSB[PJFOHB UJL HJ[BSUF FEP FLPOPNJB J[BFSBLP BSSB[PJBL CBSOF CFIBSSF[LPU[BU KPU[FO EJSFO LPOQFOUTB[JP OFVSSJ HV[ UJBL IBSUVLP EJSB /BUVSB SFO LPIFSFOU[JB HMPCBMB CBCFTUFO EFMB CFSNBU[FLP #BMEJO FUB MFLV IPSSFUBO MFIFOUBTVOF[LP IBCJUBU OBUVSBMB FUB FEP FTQF[JFB CBEBVEF HJ[B PTBTVOBSJ FUB TFHVSUBTVO QVCMJLPBSJ MPUVSJLP BSSB[PJBL CBLBSSJL BSHVEJB EBJUF[LF FEPUB JOHVSVNFOFSBLP GVOUTF[LP HBSSBOU[JLP FSBHJO QPTJUJ CPBL FLBSU[FB FEP MFIFO NBJMBLP JOUFSFT QVCMJLPLP CFTUFMBLP BSSB[PJ QSFNJB[LPBL "[LFO LBTV IPSSFUBO #BU[PSEFBSJ HBMEFUV CFIBSLP [BJP BVSSF[ ,#& CBEB BVUPOPNJB FSLJEFHPFL IBMB J[FOEBU[FBO BVSSFLP CFUFLJ[VOF[ HBJO UPLJB (,- EFLMBSBU[FO EFOF UJL JOEBSSFBO KBSSJLP EJSFOBL CFTUF CBU FSF FSBOTUFO EB "VUPOPNJB FSLJEFHPFL CFIBSSF[LP LPOUTFSCB[JP OFV SSJBL [FIB[UV CFIBS EJUV[UF )PSJFL IBMB EBHPLJFOFBO LVEFBLFUB QMBO FHPLJBL FLBSSJLP EJUV[UF CFSF[JBL FEP CFTUF HBSBQFO QMBO CBU[VFUBO JOUFHSBUVBL FUB CBJUB UPLJ IPSJFUBLP IBCJUBU OBUVSBMFO FEP FTQF[JFFO FLPMPHJB FTLBLJ[VOFJ FSBOU[VOHP EJFUFO OFVSSJ BSBVU[BJMF BENJ OJTUSBUJCP FEP LPOUSBUV[LPBL FSF "[LFO GJOFBO /BUVSB 4BSFB PTBU[FO EVUFO FSFNVF UBO (,- ,#& FUB )##& MVSSBMEF FUB IJSJHJOU[B QMBOFB

NFOEVLP BIBMNFO QVCMJLPBL CBMEJOU[BU[FO EJSB CBJ FUB IPSJFUBO QSPJFLUV QVCMJLPBL POBSU[FB FUB CBJNFOBL OBIJ[ MJ[FOU[JBL FNBUFB &[ EV BYPMB HBJUBTVO IPSJFL &TUBUVBL FSLJEFHPFL GPSV BMEVOEJFL FEP UPLJLP BENJ OJTUSB[JPFL CBMJBU[FO EJUV[UFO "EJFSB[UFO EJSFO KBSEVF SFUBUJL FEP[FJO FHJOEB FSF &VSPQBLP BSBVFUBO FTLBU[FO EJSFO FMFNFOUVBL CBMEJO CBEBVEF )FHB[UJ #BTBUJFO FUB )BCJUBUFO ;V[FOUBSBVFO FTLBLJ[VOBL CFUF CFIBS EJUV[UF

(6/& #&3&;* ;&)"5; #"5&/ #"#&4" )*3*(*/5;" 1-"/(*/5;" #&3&;* #"5&/ #*%&; 59*/(6%*3&/ ,"46" &TQB[JP [FIBU[ CBUFBO OBUVS JOHVSVOFBSFO CBCFTB QMBO CFSF[JFO CJEF[ BSUJLVMB EBJUFLF "VLFSB IPOFL QMBO CFSF[JBSFO GJHVSBSJ FTLFS BEJCJEF[ IPSJ EBHP POBSUV UB 5YJOHVEJ FSFNVBO CJ[LPS FTLV IBSU[FLP CBMJP J[BO EV JOHVSVNFOBSFO BMEFUJL [BMBOU[BSJL HBCFLP JOUFSFTB EVFO FSFNVBO &VTLBM "VUPOPNJB &SLJEFHPLP /BUVSB #BCFTUFLP -FHFB POBSUV CBJOP MFIFO FHJO FSF


&-&.&/56 ;&)"5; #"5;6&/ #"#&4" ,045"-%&", 63", *#"*", &5" &33&,", )&;&(6/&", .&/%*", 1"*4"*" &5" ,033*%03& &,0-0(*,0",

,045"-%&", *UTBTFSU[BSFLJO FUB IPSJ PTBU[FO EVUFO [FSSFOEFLJO MP UVUBLP FSSFHJNFO KVSJEJLPB V[UBJMBSFO LP *UTBTFSU[FUBLP -FHFBO EBHP CJMEVUB #FSUBO JUTBTPLP MFIPSSFLP KBCBSJ QVCMJLPBSFO FSBCJMFSB FSSFHJNFOB [FIB[ UFLP TJTUFNB TJOQMFB F[BSU[FO EB MJCSFBL QVCMJLPBL FUB EPBLPBL CF[BMBLP FSBCJMFSB LPNVO KBLJO CBU[VL FUB FVSFO J[BFSBSFLJO CBU EBUP[FOBL KBSSJUB HBJOFSBLPFL BENJOJTUSB[JPBL FNBO CFIBSSFLP HBJU[FO EVFO UJUVMVB CFIBS EVUFOFBO FSSFTFSCB BETLSJQ[JPB CBJNFOB FEPUB LPOU[FTJPB *UTBTFSU[FUBLP MFHFEJBL FSF JUTBTFSU[FLP FSFNV HJTB TBJM LBUVUBLP FSFNVFO POEPLP MVSTBJM HV[UJFO IPOEBSU[BL FUB JUTBTPLP MFIPSSFLP FSFNVB HBJOFLP NVHB FUB [PS TJTUFNB F[BSU[FO EV TBMCVFTQFO KBLJO CBU[VFLJO ;PS FUB NVHB CBLPJU[BSFO LPLBQFOB [FIB[UFLP BJQBUVUBLP JUTBTFSU[ IPSSFO CBSSVLP MFSSPUJL BCJBUV FUB QSPJFL[JP IPSJ[POUBMB IBSU[FO EB LPOUVBO

" *("305;& ;035"46/" NFUSPLP MFSSP CBUJ BQMJLBU[FO [BJP MFSSP IPSJ NFUSP SB [BCBM EBJUFLF [FIBSLBU[FLP [BJMBL FEP BSSJTLVUTVBL EJSFO FSFNVFUBO FUB MFSSP IPSSFL MJCSF HFSBUV CFIBS EV [BJOU[B JCJMHBJMVFOU[BU FUB PJOF[LPFOU[BU

# 4"35;&,0 ;035"46/" -VSSBMEF BOUPMBNFOEVSBLP QMBOFL FUB USFTOFL JUTBTBMEF SB KPBUFLP FUB JCJMHBJMVBL JOHVSVBO V[UFLP CFIBS BEJOB MFLV BVSSFJLVTJ CFIBSLP EJUV[UF HV[UJBL FSF KBCBSJ QV

CMJLPUJL LBOQP CFSF[JLJ CBCFTUVUB EBVEFO FSFNVFUBO J[BO F[JL 4BSCJEFFO CFIBSSB F[ EB LPQVSV[ [FIB[UVLP IJSJ MVSTBJMFUBO FEP MVSTBJM IJSJHBSSJFUBO J[BO F[JL B[LFO LBTV IPSJFUBO JCJMHBJMV [JSLVMB[JPSBLP TBSCJEFFO BSUFLP UBSUFB NFUSPLPB J[BOHP EB FUB PJOF[LPFOU[BLP TBS CJEFFO BSUFLP UBSUFB CFSSJ[ NFUSPLPB

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


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

)POEBSU[BL FUB FSFNV QVCMJLPBL HBSCJUBTVO FUB PTBTVO FHPFSB FHPLJFUBO NBOUFOU[FB FUB TBMCBNFO EVBSJ [FJO HJ[B CJ[JU[FO TFHVSUBTVOBSJ CVSV[ F[BSSJUB LP BSBVBL LPOUVBO IBSU[FB *UTBTFSU[FUBLP -FHFBL LPTUBMEFLP VEBMFSSJFUBLP IJSJHJO U[B QMBOFBNFOEV HV[UJB CBMEJOU[BU[FO EV -FIFOJL FUB CFIJO [PSUBTVOFO POEPSJPFO FUB F[BSSJUBLP IJSJHJOU[B LP FSBHJO FTQBSSVBSFO JOUFOUTJUBUFBHBUJL JUTBTFSU[BSF LJO NVHB FHJUFO EVUFO MVSSFUBO #FTUBMEF BJQBUVUBLP -FHFBL FSBHJOEBLP LPTUBMEFLP HVOFFUBO FSBHJO EF[B LFUFO MVSSBMEF FUB IJSJHJOU[B BOUPMBNFOEVLP USFTOFUBO &TUBUVLP "ENJOJTUSB[JPBSFO OBIJUBF[LP UYPTUFO MPUFTMFB FSBOUTJUB (BJOFSB -FHFBL [FIB[UVUBLP JOUFSFT PSPLPSSF LP LPTUBMEFLP MBOBL &TUBUVLP "ENJOJTUSB[JPBSFO FTLV EBVEF FUB F[ EJSB UPLJBO UPLJLP BENJOJTUSB[JPFO FEP[FS LPOUSPM KBSEVFSBSFO NFOEF FHPOHP IPSSF[ HBJO CFTUF BENJOJTUSB[JP QVCMJLPFL FSF F[JO J[BOHP EJUV[UF MBO IPSJFL CFSUBO CFIFSB VU[J

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

# *#"* &5" &33&," &35;&/ */(636,0 -633"-%& 1-"/(*/5;" 4&,503*"-"

*CBJ FUB FSSFLB FSU[FO BOUPMBNFOEV HBSBUVB FUB [FIB[ UVB -VSSBMEF "OUPMBNFOEVSBLP "SBVFUBO -VSSBMEF 1MBO


&-&.&/56 ;&)"5; #"5;6&/ #"#&4" 4"33&3" )*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4"

4FLUPSJBMBSJ JHPSU[FO [BJP #J JTVSJBMEFFUBLP ,BOUBVSJ JTV SJBMEFB FUB .FEJUFSSBOFPLP JTVSJBMEFB BSB[PBL EFTCFSEJ OBL EJSFOF[ CJ QMBOHJOU[B FHJO EJUV[UF JTVSJBMEF CBLPJ U[BSFOU[BU CBU BCFOEVBSFO LP %FLSFUVBL CFIJO CFUJLP POBSU[FO EV ,BOUBVSJ JTVSJBMEFBSFO -VSSBMEF 1MBO 4FLUPSJBMB BCFOEVBSFO LP %FLSFUVBL HBV[B CFSB FHJUFO EV .FEJUFSSBOFPLP JTVSJBMEFBSFLJO -VSSBMEF 1MBO 4FLUPSJBMBSFO BOUPMBLVOU[B FSFNVB IPOFMB EBHP PTBUVUB ± NFUSPLP [BCBMFSB EVUFO MVS[PSV [FSSFOEFO NVM U[PB VS JCJMHV HV[UJFO FSU[FUBO LPLBUVBL JCBJBL KBJP U[FO EJSFOFUJL JUTBTPSB ,BOUBVSJ JTVSJBMEFBO FEP &CSP JCBJSB .FEJUFSSBOFPLP JTVSJBMEFBO JSJTUFO EJSFO BSUF .FEJUFSSBOFPLP JTVSJBMEFBSFO LBTVBO "SBCBLP -VSSBMEF )JTUPSJLPBO EBHPFO &CSP JCBJBSFO F[LFSSBM EFB FSF TBSU[FO EB ± 6SUFHJFO CJ JTVSJBMEFFUBO FEP BJOU[JSFO [FJO VSNBF MFO .FEJUFSSBOFPLP JTVSJBMEFBO JOHVSVBO LPLBUVUB LP NFUSPLP MVS[PSV [FSSFOEBL *CBJFO FUB FSSFLFO BOUPMBLVOU[B F[BSU[FO EVFO BSBVEJB IPOFMB FHJUVSBU[FO EB ± #BEB VCJEF HV[UJFUBO BQMJLBUV CFIBSSFLP BSBVEJ OBHV TJB "SBVEJ IPSSFO PJOBSSJ[LP IJ[QJEFB IPOBLP IBV EB LVMUVS JOUFSFTB EVUFO FMFNFOUVBL VS IPSOJLVOU[BSBLP VSUFHJBL FUB VCJEFFUBUJL IVSCJM EBVEFO B[QJFHJUVSBL CBCFTUFB ± )PSSF[ HBJO JCBJ FSU[FUBO FHJOEBLP [POJGJLB[JPBSFO BSBCFSBLP BSBVEJ TJOHVMBSJ[BUV CBU FSF TPSUV EB JOHV SVNFO PTBLFUBSFO FUB PTBLFUB VSCBOJTUJLPBSFO BSB CFSB CBJUB JCBJFO USBNJGJLB[JPFO BSBCFSBLPB FSF BSSP IJESBVMJLPFO BSBCFSB 1VOUV [FIBU[ CBLPJU[FBO BQMJLBUV CFIBSSFLP BSBVEJB IJSV PTBHBJFLJO MPUVUB LP CBUFSBLP BSBVEJBSFO BQMJLB[JPBSFO POEPSJPB J[BO HP EB )BTJFSB CBUFBO JCBJ FUB FSSFLB FSU[FJ CVSV[LP MVSSBMEF QMBOFBNFOEV TFLUPSJBMFLP FSBCBLJ HV[UJBL MPUFTMFBL EJSB LVMUVS JOUFSFTFLP FMFNFOUVFO LBTVBO LVMUVS JOUF SFTB EVUFO [VCJBL FUB IJSJHVOFBL CBUF[ FSF J[BO F[JL B[LFO LBTV IPSSFUBO FSBCBLJBL BIPMLV[LPBL J[BOHP EJSB IBV EB VEBM QMBOFBNFOEVSBLP JSBEPLJ[VOBL 6EBM QMBOHJOU[BL MVS[PSV VSCBOJ[BF[JOFLP VCJEFFO FSU[F UBO §-VSSB[BMFLP 6SBL #BCFTUFLP -VS[PSV 6SCBOJ[BF[JOB¨ LBUFHPSJB F[BSSJLP EV MVSSBMEF QMBOHJOU[B TFLUPSJBMFBO GJOLBU[FO EFO [BCBMFSB LPOUVBO IBSUVUB 6EBM QMBOHJO U[BL VCJEFBSFO CJ BMEFUBLP NFUSPLP [FSSFOEBSJ EBHP LJPOF[ -VSSBMEF 1MBO 4FLUPSJBM IPOFUBO KBTPUBLP JSJ[QJ EFBL IBSUV CFIBSLP EJUV CBSOF &HVOHP JOTUBMB[JPBL FEP FSBJLVOU[BL VEBM QMBOHJOU[BSFO BSBCFSB FHJOEBLPBL FUB QMBOHJOU[B TFLUPSJBMFBO F[BSSJUBLPBSFO BVSLBLPBL EJSF OBL F[ EJSB BOUPMBNFOEVUJL LBOQPLP HJTB LBMJGJLBUVLP BJU[JUJL VEBM QMBOHJOU[BL F[BSSJLP EJUV LBTV CBLPJU[FBO

FHPLJ JSJ[UFO [BJ[LJPO [FIB[UBQFOBL EBHPLJPO B[UFSLFUB SFO POEPSFO

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± * UBMEFB OBUVSHVOF HJTB 1BSLF /BUVSBMB #JPUPQP #BCFTUVB FEP 6SEBJCBJLP #JPTGFSB &SSFTFSCB BJUPS UVUBLP IF[FHVOFBL 5BMEF IPSSFUBO IPHFJUB [B[QJ FSFNV EBVEF FUB IPSJFO BOUPMBLVOU[B F[ EBHP )F[FHVOFFO -VSSBMEF 1MBO 4FLUPSJBMBSFO FTLV IF[FHVOF CBLPJU[BSFO CFSBSJB[LP BSBVEJBSFO FTLV CBJ[JL ±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vB VSNBFMB /BWBSJEBT VSNBFMB 4BMCVSVBLP IF[FHVOFBL -BDPS[BOB VS NBFMB "TUSBCVEVBLP JCBSSFLP IF[FHVOFB #PMVF LP CBJMBSBLP QVU[VBL "vBOBLP HBU[BHBL FUB &UYF SSFLP QVU[VB )F[FHVOFFO -VSSBMEF 1MBO 4FLUPSJBMBL BSSFUB CFSF [JB FTLBJOU[FO EJF ** UBMEFLP IF[FHVOFFJ )PSSFMB BOUPMBLVOU[BSFO FSFNV FTQB[JBMB [FIBU[ NFIBU[ BHFSU[FO EV BMEFSEJ IPSSJ EBHPLJPOF[ IBJOCBU JSJ[QJEF BQMJLBU[FO EJSB LPTUBLP FEP CBSSVBMEFLP IF[FHVOFFO LBTVBO FUB CFSBSJB[LP BSBVEJB F[BS U[FO EB IPSJFUBLP CBLPJU[BSFOU[BU "SBVEJ IPSSFL LBTV CBLPJU[FSBLP FSBCJMFSBL FUB KBSEVFSBL BSBV U[FO EJUVFO NBUSJ[F OBHVTJBL F[BSU[FO EJUVFO FSBCJMFSB FSSFHJNFOB PTBUVLP EV


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

± *** UBMEFBL *OCFOUBSJPBO BHFSU[FO EJSFO HBJOFSBLP IF[FHVOFBL CBSOF IBSU[FO EJUV ,BTV IPSSFUBO IF[FHVOF IPSJFLJLP CBCFTB VEBM QMBOFO NFOEF EBHP IBTJFSB CBUFBO #BCFTUVUBLP )F[FHVOFFO ,BUBMPHPB &"&LP IF[FHV OF HBSSBOU[JUTVFOFO CBCFTB CFSNBU[FLP TPSUV [FO )BTJFSB CBUFBO ,BUBMPHPB BJQBUVUBLP * FUB ** UBMEFF UBO TBSUVUBLP IF[FHVOFFL PTBU[FO EVUF &SBCJMFSBL FUB KBSEVFSBL BSBVU[FLP NBUSJ[FB &HJB FTBO CJ NBUSJ[F EJSB CBUB LPTUBLP IF[FHVOFFOU[BU FUB CFTUFB CFSSJ[ CBSSVBMEFLP IF[FHVOFFOU[BU )PSJFUBLP CBLPJU[FBO MFIFOEBCJ[J CBMJ[LP FSBCJMF SBL FUB KBSEVFSBL [FIB[UFO EJSB &SBCJMFSFO FUB KBS EVFSFO JOHVSVLP BSBVBL GJOLBU[FL PSEVBO -VSSBMEF "OUPMBNFOEVSBLP "SBVFUBO IPSJFJ CVSV[ FNBUFO EJSFO EFGJOJ[JPBL FUB TJTUFNBUJ[B[JPB IBSU[FO EJSB LPOUVBO )BMB FSF QMBOBSFO IFMCVSVBL FUB BSBVUV UBLP [POBMEFFO CFSBSJB[LP F[BVHBSSJBL JLVTJUB LBTV CBU[VFUBO IPSJFL HFIJBHP [FIB[UFO EJSB #FTUBMEF MVS[PSVB BSBVU[FLP IBJOCBU NBJMB GJOLBU[FO EJSB "SBVFL MVS[PSV VSCBOJ[BF[JOFO JOHVSVBO F[BSU[FO EVUFO MVSSBMEFFSFEVB LPOUVBO IBSUVUB )BMB FSF )F[FHVOFFO -VSSBMEF 1MBO 4FLUPSJBMBL FLPTJTUFNB IPSJFO F[BVHBSSJFO CFSBSJB[LPUBTVOB LPOUVBO IBSUV UB BOUPMBNFOEVSBLP B[QJNBJMB HFIJHBSSJBL F[BSU[FO EJUV LBTV CBU[VFUBO FSFNV FEP TFLUPSF CBLPJU[FLP FSBCJMFSFO FUB KBSEVFSFO JOHVSVLP BSBVBL FSFNVBSFO IBSSFSB HBJUBTVOBSFO FUB CFSF[JUBTVOFO BSBCFSBLPBL J[BO EBJUF[FO )F[FHVOFFO -VSSBMEF 1MBO 4FLUPSJBMBL CBSOF IBSU[FO EJ UVFO FSBCBLJBL FUB YFEBQFOBL IJSV NPUBUBO TBJMLBU[FO EJSB IPSJFL KVSJEJLPLJ FSBHJOLPSSBL J[BO EBJUF[FO ± ;V[FOFBO BQMJLBU[FLP BSBVBL MPUFTMFBL FUB -VSSBMEF 1MBO 4FLUPSJBMB JOEBSSFBO TBSUV CF[BJO MBTUFS BQMJLB UVLP EJSFOBL ± "ENJOJTUSB[JP QVCMJLPFJ [V[FOEVUBLP JMEP MPUFTMFBL JMEP IPSJFO FSBHJOB [FIBSLBLPB EB IPSJFL LBTVBSFO BSBCFSBLP FSBLVOEF FTLVEVOFO NFOEF CBJUBVEF ± &SBHJOLPSUBTVO MPUFTMFSJL HBCFLP HPNFOEJPBL FSB LVOEF QVCMJLPFO FUB QBSUJLVMBSSFL -VSSBMEF 1MBO 4FL UPSJBMBL BSBVUVUBLP KBSEVFSBL CJEFSBU[FLP TPSUVBL )PSJFO IFMCVSVB QMBOBSFO IFMCVSV HFOFSJLPBL MPSU[F LP HPNFOEBHBSSJBL FUB QPTJUJCPBL EJSFO BIPMLVBL FNBUFB EB BMBCBJOB IPSJFO HBSBQFOB FUB BQMJLB[JPB CFTUF USFTOB KVSJEJLP BENJOJTUSBUJCP CBU[VFO FTLV EBHP

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

# #"40 */(636.&/ "/50-".&/%6"3&/ 13*/5;*1*0 /"(64*", .&/%*"3&/ '6/5;*0 40;*"-" .FOEJFL FEP[FS J[BOEB FVSFO UJUVMBSUBTVOB HJ[BSUF GVO U[JP FTBOHVSBUTVB EVUF CBJ CBMJBCJEF OBUVSBMFO JUVSSJ NPEVBO CBJ IBJOCBU JOHVSVNFO [FSCJU[VSFO IPSOJU[BJ MF NPEVBO FTBUFSBLP MVS[PSVB FUB [JLMP IJESPMPHJLPB CBCFTUFLP LBSCPOP BUNPTGFSJLPBSFO GJOLBU[FLP CJPMPHJ BOJ[UBTVOB HPSEFU[FLP FUB FSB CFSFBO QBJTBJBSFO PJOB SSJ[LP FMFNFOUVFUBLPB EB


&-&.&/56 ;&)"5; #"5;6&/ #"#&4" 4"33&3" )*3* "3"6%*"/ */(636/& /"563"-"3&/ #"#&4"

$ .&/%*&/ 4"*-,"1&/"

F "SSPFO QMBO IJESPMPHJLPFUBLP QBSUF J[BO FUB JOHVSV NFO JOUFSFTB EVUFO JCBJ [BUJFO QBSUF J[BUFB

.FOEJ QVCMJLPBL &TUBUV BVUPOPNJB FSLJEFHP VEBM FOUJUB UF FUB CFTUFMBLP [V[FOCJEF QVCMJLPLP FOUJUBUFFOBL EJSFO NFOEJBL EJSB .FOEJ QVCMJLPBL IPOFMB TBJMLB EBJUF[LF JLVT LPBESPB

G "VUPOPNJB FSLJEFHPLP BSBVEJBL [FIB[UFO EJUVFO CFTUF CBU[VL

.FOEJ LPNVOBMBL VEBM FOUJUBUFFO QFBO EBVEFO NFO EJBL EJSB CBJOB VTUJBQFOB JOHVSVLP CJ[JMBHVO HV[UJFJ EBHPLJF )BMB FUB HV[UJ[ FSF MFHF[ NFOEJ IPSJFL KBCBSJ QVCMJLPLP NPEVBO EBVEF TBJMLBUVUB .FOEJ QSJCBUVBL [V[FOCJEF QSJCBUVLP QFSUTPOB GJTJLP FEP KVSJEJLPFOBL EJSB CBJ JOEJCJEVBMLJ FEP CBJ KBCFLJ EFU[B FSSFHJNFOFBO .FOEJ QSJCBUVBL CFSF UJUVMBSSBL LVEFBU[FO EJUV FUB CFSBL LPOUSBUB EJU[BLF LVEFBLFUB MBOFUBSBLP [V[FOCJEF QVCMJLP FEP QSJCBUVLP QFSUTPOB GJTJLP FEP KVSJEJLPBL FEP CFTUFMB NFOEJB CFSB LPLBUVB EBHPFO MFLVBSFO BSEVSB EVUFO CBTP PSHBOPBL #BCFTMF J[FOEBQFOB KBTP EF[BLFUF UJUVMBSUBTVO QSJCB UV FEP QVCMJLPB EVUFO NFOEJ FEP CBTP MVSSFL POEPLP LBTVFUBLP CBUFBO EBVEFOFBO B "SSP IJESPHBGJLPFO CVSVBO EBVEFOBL FUB FSSFHJNFO IJESPMPHJLPBSFO FSSFHVMB[JPBO OBCBSNFO QBSUF IBS U[FO EVUFOBL FMVS KBV[JBL FUB VIPMEFBL TBJIFTUV[ FUB IFSSJ MBCPSF FUB B[QJFHJUVSBL CBCFTUV[

H #BTP [POB CBCFTUV HJTB J[FOEBUVB FHPUFB #BMJBCJEF /BUVSBMBL "OUPMBU[FLP 1MBOFBO FEP #BTP #BMJBCJEFBL "OUPMBU[FLP 1MBOFBO (BJOFSB BVUPOPNJB FSLJEFHPFL UJUVMBSUBTVO QVCMJLPLP FEP QSJCBUVLP NFOEJFO CBCFT CFSF[JLP CFTUFMBLP GJHV SBL F[BSSJ BIBM J[BOHP EJUV[UF POEPLP F[BVHBSSJSFO CBU CJMU[FO EVUFOFUBO B #JPMPHJB EJCFSUTJUBUFBSFO BMEF FHJO EF[BUFMB TJTUFNB FLPMPHJLP NBOUFOEVUB GMPSB [FJO GBVOB CBCFTUVUB FEP HFOFUJLB EJCFSUTJUBUFB [BJOEVUB C 0OEPLPBL J[BUFB FEP IPSJFO QBSUF J[BUFB CBCFTUVUB LP OBUVSHVOFBL 4BSF /BUVSB LP FSFNVBL CJPT GFSB FSSFTFSCBL FEP CFTUFMBLP MFHF[LP CBCFT GJHVSBL #FTUFMB FSBHJO FTQBSSVFUBO FSF FHPO EBJUF[LF FEP QBJTBJBLP FMFNFOUV FTBOHVSBUTVB J[BO EBJUFLF FEP IPSSFO QBSUF J[BO D 4VUF BSSJTLV IBOEJLP FSFNVFO CBSOFBO FHPUFB E #FSF CBTP CBMJPFO FTBOBIJ CFSF[JBHBUJL

C -VS[PSVBL [BJOU[FLP MBOFO MFIFOUBTVO JOHVSVFUBO FHPUFB IJHBEVSB QSP[FTV FUB CBTP [FJO IJESPMPHJB [V[FOLFUFO BVSSFBO FUB CFSF[JLJ EVOB LPOUJOFOUB MFO LBTVFUBO

F "VUPOPNJB FSLJEFHPLP BSBVEJBL [FIB[UFO EJUVFO CFTUF CBU[VL

D -VSSB FEP BSSPLBL FSPSU[FB NVSSJ[UV FEP TBJIFTUFO EVUFOBL VSUFHJBL MVSQFSBU[FB TBJIFTUFO EVUFOBL FUB MBCPSFBL [FJO B[QJFHJUVSBL IBJ[FUJL CBCFTUFO EJUV[UFOBL

% #"40 1-"/*'*,";*0" #"40 #"-*"#*%&&/ "/50-".&/%6 1-"/",

E 6SB IBSU[FLP B[BMFLP FUB MVS B[QJLP MFLVFO CBCFT QFSJNFUSPBO FHPUFB

.FOEJFJ CVSV[LP PJOBSSJ[LP BSBVEJ CFSSJBL #BTP #BMJBCJ EFBL "OUPMBU[FLP 1MBOBL TPSUV EJUV ##"1 #BTP QMBOJ GJLB[JP USFTOBL EJSB MVSSBMEF BOUPMBNFOEVBSFO NBSLPBO

-ENDI PUBLIKOEN SAILKAPENA

.&/%* %&."/*"-",

0/%"3& .&/%*",

,"5"-0("56",

&SBCJMFSB 1VCMJLPLP .FOEJFO ,BUBMPHPBSFO CBSOFBO EBVEFOBL

,0.6/"-",

6EBM FOUJUBUFBL EJSB KBCFBL CBJOB VTUJBQFOB JOHVSVLP CJ[JMBHVO HV[UJFJ EBHPLJF

#&45&-",0 &3"4"/%",0",

&SBCJMFSB FEP [FSCJU[V QVCMJLPBSFO FSBHJOQFLPBL CFUJFSF LBUBMPHBUVUBLPFO FUB LPNVOBMFO F[BVHBSSJBL F[ EJUV[UFOBL +BCFHP QVCMJLPLP NFOEJBL CBJOB F[ EJSFOBL KBCBSJ QVCMJLPLPBL


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

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

& 6%"- &4,6.&/", .&/%*&* %"(0,*0/&; 6EBMFL NFOEJFO JOHVSVBO EJUV[UFO FTLVNFOBL PJOBSSJ[ LP MFHF[LP BSBVEJBSFO BSBCFSB POEPLPBL EJSB 6EBMB UJUVMBSSB EFO NFOEJFO LVEFBLFUB &SBCJMFSB 1VCMJLPLP .FOEJFO ,BUBMPHPBO F[ EBVEFOFUBO

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ยง1BJTBJBยจ IJU[BL MVSSBMEFLP FEP [FJO [BUJ J[FOEBU[FO EV CJ[UBOMFFO VMFSU[FLP NPEVB LPOUVBO IBSUVUB FUB CFSF J[BFSB GBLUPSF OBUVSBM FEPUB HJ[BUJBSSFUBUJL TPSU[FO EB CBJUB IBJFO BSUFLP FSMB[JPFUB UJL FSF &VSPQBLP )JU[BSNFO IBV TJOBUV [VUFOFL IBJOCBU OFVSSJ PSPLPS IBSU[FLP LPOQSPNJTPB IBSUV EVUF

6EBMB UJUVMBSSB EFO TBJMLBUVUBLP NFOEJFO LVEFBLFUB EBHPLJPO CBTP BSBVEJBO IBMB F[BSU[FO EFOFBO

B 1BJTBJB KVSJEJLPLJ CJ[UBOMFFO CJ[J FSFNVBO GVOUTF[LP PTBHBJ HJTB POBSU[FB LVMUVSB FUB OBUVSB POEBSFBSFO EJCFSUTJUBUFBSFO CJ[J FSFNV FUB CFSF OPSUBTVOBSFO PJOBSSJ

6EBMBSFO UJUVMBSUBTVOFLP CBTP VTUJBQFO HV[UJFO FSSFOEJNFOEV FLPOPNJLPBSFO EJTQPTJ[JPB YFEBUV UBLPBSFO LBMUFSBLP J[BO HBCF TBJMLBUVUBLP NFOEJFO IPCFU[F GVOUTBSFLJO FSMB[JPOBUVUB FEP CFSF LBTVBO EBHPLJPO CBTP BSBVEJBO YFEBUVUBLPBSFO LBMUFSBLP J[BO HBCF

C 1BJTBJFO CBCFTFSBLP LVEFBLFUBSBLP FUB BOUPMBNFO EVSBLP OFVSSJBL [FIB[UV FUB QSBLUJLBO KBSSJ BVSSFSB HP [FIB[UFO EJSFO [FOCBJU OFVSSJ QBSUJLVMBS [FIBU[ IBSUVUB

/BIJUBF[LP UYPTUFOFO JHPSU[FB &SBCJMFSB 1VCMJLPLP .FOEJFO ,BUBMPHPBO EBVEFO FUB CFSF UJUVMBSUBTVOB EVUFO NFOEJFO LVEFBLFUB USFTOBL TPSU[FLP QSP[F TVBO .FOEJFO PJOBSSJ[LP BSBVFUBO BVSSFJLVTJUBLP CFTUF MBLP OBIJUBF[LP UYPTUFOFO JHPSU[FB CFSF UJUVMBSUB TVOFLP NFOEJFO JOHVSVBO -FHF IPOFO HBJ YFEFBO FTQSFTVLJ FNBUFO EJ[LJPO CFTUFMBLPBL EBHPLJPO CBTP BSBVEJBL FEP BQMJLBHB SSJBL EJSFO CFTUFMBLP MFHFBL

D )FSSJUBSSFO UPLJLP FUB MVSSBMEFLP BHJOUBSJFO FUB QBJTBJB QPMJUJLFO TPSLVOU[B FUB HBV[BU[FBL [FIB[UV UBLP HBJOPOU[FLP FSBHJMFFL QBSUF IBSU[FLP OFVSSJBL [FIB[UV E 1BJTBJB MVSSBMEFBSFO BOUPMBNFOEVBSFO FUB IJSJHJO U[BSFO QPMJUJLBO FUB LVMUVSB JOHVSVNFO OFLB[BSJU[B HJ[BSUF FUB FLPOPNJB QPMJUJLFUBO TBSUV CBJUB QBJTBJB SFO JOHVSVBO FSBHJO [V[FOB FEP [FIBSLBLPB J[BO EF [BLFUFO HBJOFSBLP QPMJUJLFUBO FSF &"&O F[ EBHP 1BJTBJBSJ CVSV[LP &VSPQBLP )JU[BSNF OFLP QSJOU[JQJPBL HBSBU[FO EJUVFO QBJTBJB CBCFTUFLP


4"33&3" &-&.&/56 ;&)"5; #"5;6&/ #"#&4"

BSBVEJ PSPLPSSJL FEPUB CFSF[JSJL #BJOB USFTOB IPSSFL QBJTBJB CBCFTUFBSJ EBHPLJPOF[ MPSUV OBIJ EJUVFO IFM CVSVBL MPSU[FLP BSBVEJBL CBEBVEF IJSJHJOU[BLPB FUB MVSSBMEF BOUPMBNFOEVLPB OBUVSHVOFBL CBCFTUFLPB FUBC

# ,033*%03& &,0-0(*,0", *OHVSVNFO HBSSBOU[J IBOEJLP HVOFFO BSUFLP MPUVSB[LP FEP JSBHB[LPSUBTVO JSJ[QJEFBL F[BSSJ CFIBSSB BSBV CBU[VF UBO BHFSJBO EBHP FTBUFSBLP -VSSBMEF "OUPMBNFOEVSBLP "SBVFUBO FEPUB )BCJUBUFO ;V[FOUBSBVBO (BSBQFO *SBVOLPSSBSFO &VTLBEJLP *OHVSVNFO &TUSBUFHJBO *OHVSVNFO &TQBSSV 1SPHSBNB L

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


50,*"/ 50,*,0 /"563 */(636/&" *,&35;&,0 ;"#"-5;&,0 &5" &#"-6"5;&,0 "%.*/*453";*0 5&,/*,",

0SBJO BSUF HJEB IPOFUBO UPLJLP FSBLVOEFFL [FOCBJU BSMP FUB TFLUPSFUBO MVSSBMEF BOUPMBNFOEVB IJSJHJOU[B CBCFTUVUBLP OBUVSHVOFBL LPTUBMEFBL VSBL JCBJBL FUB CFSF FSU[BL FSFNV IF[FBL NFOEJBL QBJTBJB FUB LPSSJEPSF FLPMPHJLPBL OBUVS JOHVSVOFB CBCFTUFLP J[BO EF[BLFUFO [FSFHJOB B[UFSUV EVUF CBUF[ FSF JLVTQFHJ BSBVU[BJMFUJL FUB FTLVNFOFO BMEFUJL #BJOB F[ EB BIB[UV CFIBS JOPMB[ FSF VEBMFL EJUV[UFO CPUFSF FUB FTLVNFO HFOFSJLPBL KBSEVO FHJO EBJUF[LFFMB FUB [FIB[LJ JOHVSV OF GJTJLP FUB OBUVSBMBSFO CBMJ[LP CBCFTBSFLJO [FSJLVTJB EVUFO IFMCVSVFUBSB CJEFSB EBJUF[LFFMB )BMB NPUB EFTCFSEJOFLP FSSFHVMB[JP UFLOJLB HFOF SJLPBL CBUF[ FSF UPLJLP PSEFOBOU[FO FUB IJSJHJOU[BLP QMBOHJOU[FO CJEF[ FSBCJM EJU[BLFUF UPLJLP LPSQPSB[JPF UBLP BSEVSBEVOFL TVTUBQFOFLPBL MBHVOU[BL EJSV MBHVOU[BL TBSJBL FSSFLPOP[JNFOEV GPSNBMBL FUBC FNBOEB BOUPMBLVOU[BLPBL PSHBOP FEP FSBLVOEFFO TPSSFSB QBSUF IBSU[F QVCMJLPBSFO IBJOCBU NBJMBSFLJO IJU[BSNFOFLPBL QBSUJLVMBSSFLJO FOQSFTFLJO FEP CFTUF FSBLVOEF QVCMJLP FEP QSJCBUVFLJO FHJOEBLP BLPSEJPBL JUVOBL LPOUSBUVBL FUBC BENJOJTUSB[JP JOGPSNB[JPBSJ CVSV[LPBL HFOFSJLPB FEP FTQF[JGJLPB [FSCJU[V OBHV TJFO CJEF[ FEP [FOUSP FTQF[JBMJ[BUVBL TPSUVUB FUBC )PSSFO IFMCVSVB OBUVS JOHVSVOFBSFO LVEFBLFUB JSBVOLP SSB FHJUFB EB PSBJO BSUF B[UFSUVUBLP TFLUPSFFUBLP PIJLP QMBOUFBNFOEV NVHBUVB BMEF CBUFSB VU[JUB "[LFO GJOFBO USFTOB HV[UJBL UPLJLP LPSQPSB[JPFO FTLV V[UFBO EBU[B OBUVS JOHVSVOFBSFO LVEFBLFUB FHPLJB FHJUFLP JOHVSVNFOBSFO JLVTQVOUVUJL "MEF IPSSFUBUJL BSSFUB IJSV IFMCVSVUBO KBSSJ CFIBS EB CFSF[JLJ

" 6%"-&33* )033&/ /"563 */(636/&"3&/ &(0&3" &;"(65;&"

# +&/%&"3* 030 )"3 &(0&3" )03* +",*/"3";* &5" )033* #636;,0 */'03.";*0" &."/

$ /"563 */(636/& )033&/ &(0&3", %&/#03"/ %6&/ #*-","&3" ";5&35;&/ -"(6/%6,0 %65&/ ,0/530- &5" &(*";5"1&/ 1"3".&530", &;"33* #&3&;*,* "%*&3";-&&/ 4*45&." ."-(6 &5" &33"; #"5&/ #*%&;

)PSSFHBUJL KBSSBJBO USBOTLSJCBUV EVHVOB UPLJLP KBS EVFSFUBSBLP BVLFSFO LBUBMPHP JSFLJ FUB [BCBMB CFTUFSJL F[ EB /BUVS JOHVSVOF IPSSJ MPUVUBLP JOHVSVNFO J[BF SBLP IBJOCBU FTQFSJFOU[JBUBO PJOBSSJUVUB FHJO EB FUB IPSJFUBLP BTLP 5PLJLP "HFOEB FO *OHVSVNFO &LJOU[B 1MBOFUBUJL BUFSBUBLPBL EJSB 5PLJLP FEP[FJO FSBLVOEF SFO FTLV EBHPFO BVLFSFO JOCFOUBSJP [BCBMB [FIB[UFO TBJBUV HBSB FLJOU[B NPUB CBLPJU[BSFO FTLVEVOU[B BSBV NBSLPBSFO B[UFSLFUB TBLPOB FHJO CFIBSSJL J[BO HBCF ±HJEBSFO FSBCJMFSB BSSB[PJFOHBUJL± 6EBMFSSJ CBLPJU[BL IFNFO QSPQPTBU[FO EJSFO FLJOU[B FEP FLJOU[BL BVSSFSB FSBNBUFLP BQSPCFUYBNFOEV FUB FTLVSBHBSSJUBTVO NBJMB B[UFSUV CFIBSLP EV KPLPBO EBVEFO [FOCBJU GBLUPSFSJ CFHJSBUVUB


4"33&3" 50,*"/ 50,*,0 /"563 */(636/&" *,&35;&,0 ;"#"-5;&,0 &5" &#"-6"5;&,0 "%.*/*453";*0 5&,/*,",

± -FIFOJL FUB CFIJO VEBMFSSJ HV[UJFL OPMBCBJU FLJUFLP QBVTP CFSBL KBSSBJU[FB OBIJ EVUF 5PLJLP LPSQPSB[JP CBLPJU[BL IFNFO QSPQPTBU[FO EJSFO OFVSSJ CBU FEP CBU[VL IBSU[FLP CFIBSSB JLVTJ CFIBSLP EVUF CBJOB F[ EJSB JOPMB[ FSF F[ EFSSJHPSSF[LPU[BU F[ MPUFTMFU[BU KPLP ± #FTUFUJL MPHJLPB EB QFOUTBU[FB LPSQPSB[JP CBLPJU[BL FNBO CFIBSSFLP MFIFO QBVTPB VEBMFSSJBSFO CFSBSFO OBUVS JOHVSVOFBSFO FHPFSB B[UFSU[FB EFMB )PSSFO JOHVSVLP B[UFSLFUBL PSPLPSSBL FEP QBSU[JBMBL FHP UFBL FEP F[ FHPUFBL IJSJBSFO F[BVHBSSJBL FUB HFP HSBGJLPBL EBVEFO CBMJBCJEF QFSUTPOBM FUB NBUFSJBMFO BSBCFSBLP FLJOU[FO BVLFSBL FEP JOHVSVNFO BMEFUJL FEP CFTUF NPUB CBUFLPBL KBSSJLP EJSFO MFIFOUB TVOFL CBMEJOU[BUVLP EVUF "[LFO GJOFBO LBUBMPHP IPSSFUBO [FOCBJU KPLBCJEF BVLF SB FUB UFLOJLB TBSUV EJSB VEBMFSSJBSFO OBUVS JOHVSVOFB F[BHVU[FLP [BCBMU[FLP FUB BOBMJ[BU[FLP

" -&)&/ )&-#636" 6%"-&33*"3&/ /"563 */(636/&"3&/ &(0&3" &;"(65;&" (BSBUV CFIBSSFLP CBMJ[LP FLJOU[BL POEPSFOHPBL MJSB UFLF ± &TLBMB FHPLJBO VEBMFSSJ PTPBSFO LBSUPHSBGJB [FIBU[B FHJO OBUVS JOHVSVOFBSFO B[UFSLFUB KBSSBJQFOB FUB LPOUSPMB FHJUFLP +BEB CBEBVEF KPLBCJEF IPSJFL BCJB SB[UFLP MBHVOU[BL FUB EJSV MBHVOU[BL ± *LVTQFHJ BSBVU[BJMFUJL B[UFSUV EJSFO VEBMFSSJLP OBUVS JOHVSVOFBSFO [FOCBJU BMEFSEJ CJMU[FO EJUVFO GJUYB EFT LSJCBU[BJMF CBU FHJUFB MVS[PSV VSCBOJ[BF[JOB NVHBUV [FIB[UBQFOBL CBSOF CFSUBO FNBOEBLP QMBOHJOU[B CFSF[JB VEBMFSSJLP MVSSBMEFBSFLJLP OBUVSHVOFFL EVUFO MPUVSB J[FOEBUVUBLP [VIBJU[ BQBSUFLPFO QSF TFOU[JB VEBMFSSJUJL JHBSPU[FO EJSFO JCBJ FUB FSSFLFO [FSSFOEB FUB IPSJFO TBJMLBQFO [POJGJLB[JPB EBHPLJPO TFLUPSF QMBOFBO JUTBTPLP MFIPSSFLP KBCBSJ QVCMJLPLP FSFNVBSFO CBMEJO CBEBHP [FIB[UBQFOB FUB LPTUB [PSUBTVOBL FSBHJOEBLP [JOUBL CBJUB CBMJ[LP HVOF IF[FBL EBHPLJFO LBUBMPHB[JPBSFLJO VEBMFSSJBO LPLBUVUBLP NFOEJ QVCMJLP FUB QSJCBUVFO JOCFOUBSJPB LPSSJEPSF FLPMPHJLPFL VEBMFSSJBO EVUFO FSBHJOBSFO BOBMJTJB FUBC FSF &SB IPSSFUBLP GJUYBL VEBM FTLV NFOBL FSBCJMU[FBO LBOQPLP [FJO CBSSVLP LVEFBLF UBSBLP LPPSEJOB[JP USFTOB CBMJBHBSSJBL J[BO EBJUF[LF OPJ[FBO CFIJO FHVOFSBUVUB ± 6EBM B[UFSLFUB CBU FHJO VEBMFSSJBO OBUVS JOHVSVOFBL EVFO FHPFSBSJ CVSV[LP HJEB FEP LBUBMPHP HJTB

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


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

-VS[PSV VSCBOJ[BF[JOFUBLP BJTJB HVOFBL CFSF F[BVHBSSJBL JEFOUJGJLBUV FUB FTLVSB EVUFO EJSV LPQVSVB ,PSSJEPSF FUB JCJMCJEF FLPMPHJLPBL CJEF[JEPS OBUV SBMBL OBUVS JCJMBMEJBL IJSJHVOFFUBO LPLBUVUBLP FUB JOHVSVNFO BMEFUJL JOUFSFTB EVUFO CJEF[JEPSSBL *UVSCVSV JUVSSJ QVU[VFO JOCFOUBSJPB CBJUB MFIPS EBVEFOBL CBJOB HBSCJUV FUB CFSSFTLVSBUV BIBM J[BOHP MJSBUFLFFOBL FSF -VS[PSV VSCBOJ[BF[JOFUBLP UYBCPMBL BUFSQFBL FEP CFTUF JOTUBMB[JP CBU[VL LPLBQFOB UJUVMBSJUBUFB IFMCVSVB F[BVHBSSJBL FUBC [FIB[UVUB "OEFBUVUBLP FMFNFOUV BSUJGJ[JBMFO FEP MBOEB JOHV SVOFBO FSBCJMFSB[ LBOQP EBVEFOFO OFHVUFHJBL FMFLUSJ[JUBUF EPSSFBL FUBC JOCFOUBSJPB IPSJFL F[BCBU[FLP QMBOB EJTFJOBU[FLP BTNP[

IF[JU[BJMFBL FMLBSUFBL LBMUFUVUBLP QFSUTPOBL CBJ IJSJUBS HV[UJFOU[BU PSP IBS ± -JCVSVBL NPOPHSBGJBL LBUBMPHPBL HJEBL MJCVSVY LBL USJQUJLPBL NBQBL FUBC BSHJUBSBU[FB #FSUBO FSB CBUFBO CBJOP HFIJBHPUBO LPOQMFYVUBTVO FUB MV[FSB EFTCFSEJOFLP EBUVBL B[BMEVLP EJSB UPLJLP OBUVS JOHVSVOFBSJ CVSV[ ± 5PLJLP OBUVS JOHVSVOFBSJ CVSV[LP JOGPSNB[JP UBVMBL KBSSJLP EJSB CBJ EBHPLJFO VEBM [FSCJU[VFUBLP CVMFHPF UBO CBJ LBOQPBO CFSF[JLJ PSJFOUBCJEF IPSJ FNBUFB HBSSBOU[JUTVB EFO MFLVFUBO KPMBTHVOFFUBO CJEF[JEPS TBSFFO TBSSFSFUBO JLVTQFHJ QVOUVFUBO FUBC CFUJF SF JOHVSVBO POHJ JOUFHSBU[FO CBEJSB ± #FHJSBMFLV JCJMCJEF FLPMPHJLP HBSSBOU[J[LP OBUVS HVOFBL FUB BCBSSFO LPLBQFOB PSJFOUBU[FLP TFJOBMJ [B[JPB

± "VSSFLP BUBMFUBO BJQBUV EJUVHVO JLFSLFUBL FHJUFLP HBSBJBO [FOCBJU VEBMFSSJSJ [V[FOFBO HBJBSJ IFMU[FB [BJM TBNBSSB HFSUB EBLJPLF 6OJCFSUTJUBUFBSFLJO FTQF[JBM EVUBLP GVOEB[JPFLJO FEP JOHVSVNFOBSFO CBCFTFSBLP FMLBSUFFLJO CBUF[ FSF VEBMFSSJFUBLP MVSSBMEF FSFNVB SJ MPUVUBLPBL IJU[BSUVUBLP CFLB EJSV MBHVOU[B TBSJ BLPSEJP CBJUB CFTUF BENJOJTUSB[JP CBU[VFO QBSUF IBSU[FBSFLJO FSF CJEF[ JOCFOUBSJP IPSJFL QJYLBOBLB FHJUFO KPBO BIBM J[BUFB QSPQPTBU[FO EB

± 5PLJLP OBUVS JOHVSVOFBSFLJO MPUVSB EVUFO CFIJO CFIJOFLP FEP CFIJO CFUJLP FSBLVTLFUBL FHJUFB +BEB FHJOBL EBVEFO [FOCBJU FTQFSJFOU[JB BQSPCFUYBHBSSJBL EJSB JOUFSQSFUB[JP [FOUSPBL TPSU[FB BEJCJEF[ CBCFT UVUBLP OBUVSHVOFFUBO OBIJ[ FUB LBTV IPSJFUBO FTQB [JPBSFO LVEFBLFUBO CBU FHJUFO EVUFO VEBMFSSJ HV[UJFO FUB BENJOJTUSB[JPFO BSUFLP MBOLJEFU[B HPNFOEBHBSSJB J[BO OBUVS JOHVSVOFBSJ CVSV[LP TBJM FTQF[JGJLPBL UPLJLP UVSJTNP CVMFHPFUBO JOHVSVLP OBUVS JOHVSV OFBSJ FSSFGFSFOU[JB FHJUFO EJPUFO JOHVSVNFO IF[JLF UBLP [FOUSP FTQF[JGJLPFO TPSSFSB JOHVSVLP MBOEBSF FTQF[JFBL KBTPLP EJUV[UFO CBTP EJEBLUJLPBL FEP CPUBOJLB QBSLF UYJLJBL BMF CBLPJU[BL CFSF F[BVHBSSJ OBHVTJFO B[BMQFO UYJLJ CBU J[BOHP EV

± *OLFTUBL FUB HBMEFLFUBL FHJUFB VEBMFSSJBSFO FHPFSBSJ MFIFOUBTVOB EVUFO FLJOU[FJ FUB HBJ IPSSFUBO VEBM QPMJUJLBSFO HBSBQFOB[ EVUFO QFSU[FQ[JPBSJ CVSV[ IFSSJUBSSFL EVUFO JSJU[JB KBLJUFLP

± *SUFFSBL BOUPMBU[FB BSJLFUB EJEBLUJLPBL BJSF MJCSFBO &TLPMBLP "HFOEB FO CBSSVBO FEP QVCMJLP PSPLPSSB HP CBUFOU[BU CJTJUBMEJ HJEBUVBL JOHVSVLP OBUVS JOHV SVOFBSFO F[BHVU[B TBLPOU[FLP BTNP[

± "VSSFLP UPLJLP OBUVS JOHVSVOFBSFO LBUBMPHPBSFLJO CBUFSB FEP LBUBMPHPBSFO CBSSVBO JOHVSV IPSSFUBLP MVS[PSVBSFO FSBCJMFSFO CJMBLBFSBSFO B[UFSLFUB FHJUFB

# #*("33&/ )&-#636" 6%"-&33*,0 /"563 */(636/&"3&/ &(0&3" ;"#"-%6 #FIJO BVSSFLP BUBMFBO BJQBUV CF[BMB VEBMFSSJBL CFSF OBUVS JOHVSVOFBO EBVEFO [FOCBJU FHPFSBSJ CVSV[ OBIJLPB JOGPSNB[JP EVFOFBO QSP[FTVBSFO IVSSFOHP QBVTPB MPSUVUBLP EBUVBL QVCMJLPLJ [BCBMU[FB J[BOHP MJU[BUFLF IPSSFUBSBLP VEBMFSSJBL FSB BTLPUBLP JOGPSNB [JP UFLOJLBL J[BO EJU[BLF ± 4PMBTBMEJBL TFNJOBSJPBL KBSEVOBMEJBL VEBMFSSJBSFO FHPFSB OBUVSBMBSJ CVSV[LP UBJMFSSBL BOUPMBU[FB CBJ QVCMJLP [FIBU[ FUB KBLJOBSFOU[BU VEBM UFLOJLBSJBL

± " [UFSLFUB EBUV FUB JOGPSNB[JP IPSJFL HV[UJBL VEBMB SFO XFC PSSJBO KBSU[FB IPSSF[ HBJO HBJBSFLJO MPUVSB [V[FOB EVUFO BSBV FSSFHVMBU[BJMFBL VEBM PSEFOBO U[BL FUB IJSJHJOU[B QMBOBL IFSSJUBSSBL QBSUF IBSU[FLP F[UBCBJEB HVOFBL JSBEPLJ[VOFUBSBLP QPTUPOU[JBL BSHB[LJ LBUBMPHPBL TBS EBJUF[LF

$ )*36("33&/ )&-#636" 6%"-&33*,0 /"563 */(636/&"3&/ #*-","&3" ";5&356 "[LFOJL CFIBSSF[LPB EB VEBMBL UPLJLP OBUVS JOHVSV OFBSFO CJMBLBFSBSFO EFOCPSB B[UFSLFUBO CVSV CFMBSSJ


4"33&3" 50,*"/ 50,*,0 /"563 */(636/&" *,&35;&,0 ;"#"-5;&,0 &5" &#"-6"5;&,0 "%.*/*453";*0 5&,/*,",

TBSU[FB JOHVSV IPSSFUBO CFSFO KPLBCJEFFL EVUFO FSB HJOB [FJO EFO FHJB[UBU[FLP CBMJPLP EVUFO JOHVSVNFO BEJFSB[MF TJTUFNB FSSB[B QPMJLJ QPMJLJ PTBUVUB +BSSBJBO QSPQPTBU[FO EJSFO BEJFSB[MFBL HVUYJ HPSBCFIFSBLPBL CFTUFSJL F[ EJSB )PSJFUBLP CBU[VL UPLJLP LPSQPSB[JP CBU[VL POBSUVUBLP JOHVSVNFO FLJOU[FO QSPHSBNFUBO B[BMU[FO EJSB TBSSJ CFTUF CBU[VL BMEJ[ MVSSBMEF NBJMB [BCBMBHPFUBLP BEJFSB[MFFO CFSEJOBL EJSB FUB BENJ OJTUSB[JPFO BSUFBO CFIBS EFO LPPSEJOB[JPB J[BOJL [BJMUBTVO IBOEJFHJSJL HBCF [FIB[UV BIBM J[BOHP MJSBUFLF ± -VS[PSV VSCBOJ[BF[JOFO IFLUBSFB LPQVSVB FUB CFSF QPSU[FOUBKFB VEBMFSSJBSFO B[BMFSB PTPBSFLJLP "VUP OPNJB &SLJEFHPLP *OHVSVNFO BEJFSB[MFFUBO *IPCF -VS[PSVBSFO "SUJGJ[JBMUBTVO .BJMB EFJU[FO EB "EJFSB[MF IPSSFO VSUFLP LBMLVMVB FHJUFB PTP HBSSBOU[JUTVB J[BO HP MJU[BUFLF MVS[PSV NPUB IPSSFO FUFOHBCFLP LPOUTV NPB OBCBSJU[FLP FUB MVSSBMEFBSFO BOUPMBLFUB JSBVO LPSSBSFLJO CBU EBUPSSFO FEP F[ JLVTUFLP "IBM CBMJU[ EBUV IPSJ HFIJBHP [FIB[UV BIBM J[BOHP MJU[BUFLF MVS [PSV VSCBOJ[BF[JOBSFO TBJMLBQFOBSFO IFMCVSVB [FJO EFO HFIJBHP [FIB[UVUB CBTPLPB CBCFT CFSF[JLPB OFLB[BSJU[B FUB BCFMU[BJOU[BLPB FUBC MVSSBMEF BOUP MBLFUBO QSPQPTBUVUBLP NPUBSFO BSBCFSB %JTFJOBU[FO EJSFO FUB MVS[PSV VSCBOJ[BF[JOB CFSSJSP TBJMLBU[FO EVUFO IJSJHJOU[B MBOFUBO FSBJLVOU[B EFOUTJUBUFBSFO CJMBLBFSB J[BO EBJUFLF MVS[PSVBSFO LPOUTVNPB OFVS U[FLP CFTUF PTBHBJ HBSSBOU[JUTVFUBLP CBU "EJFSB[MF IPSSFL LBMLVMVBO BSB[PBL TPS EJU[BLF MVS[PSV VSCB OJ[BF[JOFUJL EPBO HBSSBJP B[QJFHJUVSBL FOFSHJBL FUB BCBSSFL PTBHBJFJ FSSFGFSFOU[JB FHJUFO EJFOFBO ,POUVBO IBSUV CFIBSSFLP CFTUF PTBHBJ CBU OBIJ[ FUB BHJBO F[ EFO IBJO OBCBSJB VEBMFSSJLP UJUVMBS UBTVO QVCMJLPLP MVS[PSV VSCBOJ[BF[JOFO QPSU[FOUB KFB EB ±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

(VOFFJ LPSSJEPSF FLPMPHJLPFJ FUBC FSSFGFSFOU[JB FHJUFO PUF EJFO "EJFSB[MF PSPLPS CBU FSBCJMU[FB FSF FHPLJB J[BOHP MJU[BUFLF CBJUB [FOCBJU FTQB[JP NPUBUBSBLP CFTUF [FIBU[BHP CBU[VL FSF [BJMUBTVO IBOEJB CBJUV FSBOUTJUBLP EBUVBL CFTUFSJL F[ FSBCJM U[FBL CBUF[ FSF MVS[PSVLP [BUJ CFSBL TBJMLBQFO PTBHBSSJBL J[BO EJU[BLFFMBLP QBSLF OBUVSBMB J[BO EBJUFLF FUB BMEJ CFSFBO /BUVSB 4BSFLP [BUJ FUB POEPSJP[ JOHVSVNFO BMEFUJL TFOUJLPSSB EFO HVOFB FUBC ± /BIJ[ FUB CFSF JOUFSFTB [FOCBJU LBTVUBO LVBMJUBUJCPB CBJOP LVBOUJUBUJCPB J[BO [JUFLFFO BEJFSB[MF HJTB FSBCJMJ BIBM J[BOHP MJU[BUFLFFO CFTUF EBUV JOUFSFTHBSSJ CBU MVS[PSV VSCBOJ[BF[JOFBO VSUFBO FNBOEBLP MJ[FO U[JB LPQVSVB MBOBL FHJUFLP TBJMLBUVUBLP KBSEVFSFOB FUBC J[BOHP MJU[BUFLF ± #BTP JOCFOUBSJPBO BEJFSB[UFO EJSFO EBUVFUBUJL BCJB UVUB FHPLJB J[BOHP MJU[BUFLF VEBMFSSJLP CBTP HVOFF UBO EBHPFO MBOEBSFU[B BVUPLUPOPBSFO QPSU[FOUBKFB LBMLVMBU[FB CBJUB VEBMFSSJBSFO CBTP MVS[PSVBSFLJLP JSBCB[JUBLP FEP HBMEVUBLP CBTP MVS[PSV LPQVSVB HMPCBMB FUB FSMBUJCPB FEPUB VEBMFSSJLP B[BMFSB PTPBSFOB FSF (BV[B CFSB FHJO BIBM J[BOHP MJU[BUFLF VSUFSP MBOEBUVUBLP FUB NP[UVUBLP MVS[PSVBSJ CVSV[ SBUJPB LBMLVMBUVUB 5PLJLP "HFOEB FO BEJFSB[MFF UBO ±*IPCF ± B[BMU[FO EFO CF[BMB CFSF[JLJ [VIBJU[ LPQVSVFJ EBHPLJFOF[ ± ;BJMUBTVO IBOEJBHPBL J[BO EJU[BLF VEBMFSSJBO EBV EFO GMPSB FUB GBVOBSFO LPQVSVFO FSBCJMFSFJ CVSV[LP BEJFSB[MFBL FSBCJMU[FBL VEBMFSSJBO EBHPFO CJPEJCFS UTJUBUF NBJMB [FIB[UFLP "[UFSLFUB [FIBU[JL F[FBO MVSSBMEF NBJMB [BCBMBHPBO FHJOEBLP MBOFUBUJL MPSUV UBLP EBUVBL FSBCJMJ BIBM J[BOHP MJSBUFLF FEP CFTUFMB HBSSBOU[JB IBOEJLP FTQF[JFO B[UFSLFUFUBSB CBLBSSJL NVHBUV CFSF FSBCJMFSB ± )POEBUVUBLP OBUVSHVOFFO [FSSFOEB FHJO BIBM J[BOHP MJU[BUFLF CFSF LPQVSVB FUB [BCBMFSB BEJFSB[JUB CBJUB OFLB[BSJU[BSBLP MVS[PSV [BCBMFSB [FIB[UVUB F[ EV [FSUBO MVS[PSV VSCBOJ[BF[JOBSFLJO CBU FUPSSJ CFIBS FSF 6SUFSP QSP[FTV IPSSFUBO EFHSBEB[JP QSP[FTV IPSSFUBUJL CFSSFTLVSBUVUBLP OBUVSHVOFFO LPQVSVB CFSF FSBHJOB UFSNJOP BCTPMVUVFUBO FUB QPSU[FOUB KF[LPFUBO FHJB[UBU[FLP BVLFSB MFHPLF CBJUB OFLB[BM BMEFSEJB HBMEV EVUFO OFLB[BM MVSSFO B[BMFSB PTPB FUB QPSU[FOUBKF[LPB FSF


/"563 */(636/&,0 6%"- &4,6.&/&* #636;,0 (*%"

± #FTUF FSB CBUFLP KBSEVFSFL CJHBSSFO NBJMBLP BEJFSB[ HBSSJBL TPSUV BIBM J[BOHP MJUV[LFUF OBUVS JOHVSVOFBSJ CVSV[ IFSSJUBSSFJ BMEJSP FHJOEBLP JOLFTUBL HBJBSJ

CVSV[LP VSUFLP BSHJUBMQFOBL KBSEVFSB FUB QBSUF IBSU[BJMF LPQVSVB VEBMBL BOUPMBUVUBLP TPMBTBMEJFUBO KBSEVOBMEJFUBO JSUFFSFUBO FUBC



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.