$11$/(6©6HUKLVWVRFLRO©©©

KNECEJ=HO?EAJPEBE?=NPE?HA 2! 	 	E
=J

NA?AERA@!
1,-,+&*&&01/&,1&!0&00+,
=N>=N=2/	&Ù$&2!& &
'LSDUWLPHQWRGLVFLHQ]HXPDQLVWLFKH)DFROWjGL/HWWHUHH)LORVRILD+53ROD,0DWHWLßD5RQMJRYD
AI=EH!>>QNOE?$BBLQDN
6,17(6,
&RQ LO SUHVHQWH VDJJLR VLYRJOLRQR ULFRUGDUHDOFXQLPLFURWRSRQLPL GL 6LVVDQR FDPSL H SDVFROL XQRGHL SDHVL
GRYHDQFRU
RJJLVLSRVVRQRXGLUHOHYRFLGHOO
DQWLFRGLDOHWWRLVWULRWRFKHRUPDLoSDUODWRVRORQHOO
,VWULDPHULGLRQDOH
5RYLJQR'LJQDQR9DOOH)DVDQD*DOOHVDQRH6LVVDQR/HWHVWLPRQLDQ]HVFULWWHVRQRVWDWHLOSXQWRGLSDUWHQ]DSHU
TXHVWDULFHUFDFKHoVWDWDFRPSOHWDWDGDVFUXSRORVHYHULILFKHLQORFR,WRSRQLPLVRQRVWDWLUDFFROWLQHJOLDQQLH
HGHODERUDWLLQORFRFRQO
DLXWRGHJOLLQIRUPDWRUL
-=NKHA?DE=RA!PKLKJEIE
EOPNEKPK
0EOO=JK
&01/&,11,-,+6*6&!	&	+
01/ 1
7KLVDUWLFOHLQWHQGVWRSUHVHQWVRPHPLFURWRSRQ\PVILHOGVDQGSDVWXUHVRIÇLÈDQRQHRIWKHYLOODJHVZKHUHLWLV
VWLOO SRVVLEOH WR KHDU WKH ORFDO DQFLHQW ,VWULRW GLDOHFW SUHVHUYHGRQO\ LQ WKH 6RXWK RI WKH ,VWULDQ 3HQLQVXOD 5RYLQM
9RGQMDQ %DOH )DÊDQD*DOHÊDQD DQG ÇLÈDQ 7KH UHVHDUFK EDVHGXSRQZULWWHQPDWHULDO KDV EHHQ FRPSOHWHG E\
WKRURXJKLQWKHILHOGYHULILFDWLRQ7KHWRSRQ\PVZHUHFROOHFWHGGXULQJWKH\HDUVDQGH[DPLQHGZLWKWKH
KHOSRILQIRUPDQWV
(AUSKN@O!PKLKJUIO
&OPNEKP@E=HA?P
	E
=J
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

,CCE QNCA N=??KCHEANA IKHPK! H	=VEKJA @AHH= ?EREHP¸
IK@ANJ=OEB=OAJPENA=J?DAJAE@E=HAPPEIACHEKNEL=N=PEBN=
EIKJPE
LKNP=J@KL=NKHAJQKRA
B=?AJ@K@EIAJPE?=NA HA
=JPE?DA
 KJREAJA=BBNAPP=NOE
,HEJPK*=NEJAHHE
)	EJPANAOOALANEH OECJEBE?=PK@AEJKIE HK?=HE¿=JPE?K
=HIAJK MQ=JPK H= O?EAJV= OPKNE?= K HEJCQEOPE?= EJ CA
JAN=HA 0PKNE?E A HEJCQEOPE BEJK =H 
 =JJK EJ ?QE =L
L=EKJK E LNEIE OPQ@E ?DA =J?DA EJ MQAOPK ?=ILK @E NE
?AN?DA OACQKJK EH IAPK@K OPKNE?K ?KIL=N=PERK
 NE?KN
NAR=JK LAN HK LEÍ =HH	KIKBKJE= JAHH= OLEAC=VEKJA @AE
JKIEHK?=HE
)= L=NPA @AHH= HEJCQEOPE?= ?DA OE K??QL= @AHH	KNECEJA
@AEJKIE@AE HQKCDE
@AE HKNK N=LLKNPE OE=?KJ H= HEJCQ=
@AH L=AOA @E ?QE B=JJK L=NPA
 OE= ?KJ HA HEJCQA @E =HPNE
L=AOEK?KJHAHEJCQAO?KIL=NOA
¿H=PKLKJEIE=KPKLK
JKI=OPE?= )=I=PANE= CAJAN=HIAJPA REAJA OQ@@EREO= EJ
NAH=VEKJA=HH=CAKCN=BE=
&H?KILEPKEOPEPQVEKJ=HA@AHH=PKLKJKI=OPE?=¿OKLN=P
PQPPK@E OPQ@E=NA EJKIE HK?=HEJAHH= HKNKKNECEJAAJAHH=
HKNKOPKNE=A@EEJ@=C=NAOQHH=JKIAJ?H=PQN=@ACHEKCCAPPE
CAKCN=BE?E -AHHACNEJE



& PKLKJEIE OKJK @AE IKJQIAJPE HEJCQEOPE?E EILKN
P=JPE?DALKNP=JKAOOAJVE=HE@=PE@AHH=?QHPQN=I=PANE=HAA
OLENEPQ=HA@AHLANEK@KJAHMQ=HAOKJKJ=PE0AOKJK>AJA
EJPANLNAP=PED=JJKH=BKNV=@EQJIKJQIAJPKALECN=BE?K
 	EIQJKREÚ



)=BKNI=@AEJKIEHK?=HE¿OKCCAPP==?=I>E=IAJPE@E
R=NEK KN@EJA
 LAN?DÀ OE PN=OIAPPA @E CAJAN=VEKJA EJ CA
JAN=VEKJA
JKJLANIAVVK@AHH=O?NEPPQN=
I=KN=HIAJPA
&H?=I>E=IAJPKLEÍEILKNP=JPA¿MQAHHK@KRQPK=HH	=@=P
P=IAJPKBKJAPE?K
=HH=LNKJQJ?E=@	QJLKLKHK?DAOKOPE
PQEO?AH	=HPNK
,CCE
=0EOO=JKOKJKNEI=OPALK?DALANOKJA?DA?K
JKO?KJK E JKIE HK?=HE ¥ OP=PK @KRANKOK LAN?EÈ N=??K
CHEANHEAOPQ@E=NHEMQ=JPKLNEI=
&H PKLKJEIK  @= PÈLKO
 HQKCK A ÈJKI=
 JKIA
 0EO
O=JK  OEOO E¸J

 @ANER= @= 0&0&+2* „ 0&00+2*
 

@ARE?K0EO=JK 

REH=0EO=JE 

?DAAN=
QJ CAJPEHEVEK 0EOEQO  /=@KOOE
 
 
 &JB=PPE
 E JKIE
HK?=HE@ANER=PE@=JKIE H=PEJE@ELANOKJ=NEOLAPPER=IAJPA
LAN =JK  KLLQNA ¸PE?K

 B=JJK LNAOQIANA
 =??=JPK =@
APANKCAJAA N=CEKJE OPKNE?DA
 H	AOEOPAJV= @AHH	QOK @AE
OKOP=JPERECAJAN=HE#2+!20K-/"!&2*LANEI=O?DEHE
 = @EBBANAJV= @E 3&))"  0 K =J?DA -/"!& LAN E
BAIIEJEHE
&PKLKJEIE?KJOQBBEOOKEJ=JK
=J=OEOKJK
BKNI=PE
 MQEJ@E
 @=HH	=CCAPPER=VEKJA @AH JKIA @AH LNK
LNEAP=NEK @AH BAQ@K OQH MQ=HA ¿ OKNPK H	EJOA@E=IAJPK
.QAOPE?KIL=NRANKEJI=OOEI=L=NPAJAHH	AP¸NKI=J=
A
LEÍLNA?EO=IAJPA H= HKNK@=P=VEKJAR==H LANEK@K ?KI
LNAOKPN=H=@EOPNE>QVEKJA@AHHAPANNA=E?KHKJEVV=PKNEAH=
?=@QP=@AHH	&ILANK)=OPN=CN=J@AI=CCEKN=JV=@EMQAOPK
PELK@EPKLKJEIE@EIKOPN=H=?KJPEJQEP¸@AHH=NKI=JEP¸OQ
MQAOPEPANNEPKNE *=PEF=
EÚ



 *-&"-0 ,)&
NECJ=J
0EPNKR==OQ@@E0EOO=JK=H?KJBEJA?KH KIQJA?=P=OP=HA
@E)EOECJ=JK
@KLKH=3=H@AHA(KJPN¸@AAOQ>EPKRE?EJK=
3=H=IL¿N
*=LL=?=P=OP=HA„NECJ=J
+AHHA *=LLA ?=P=OP=HE @AH ?KIQJA @E 0EOO=JK  *=LLA
?=P=OP=HE


EHPKLKJEIK¿QJ>KO?K&JRA?A
PQPPAHA
BKJPEO?NEPPAHK?EP=JK?KIA?=ILEAL=O?KHE
¥QJJKIA@ANER=PK@=JKIAH=PEJK@ELANOKJ=?KH OQB
BEOOK„=JK /&+&+2*

NECJ=JK 

PKL@AHH	=JPE?K=CNKLKHAOA /KO=I=JE
3$


$Q=NCJ=J
 O?NEPPK P=HKN=.Q=NCJ=J A NCJ=J
 HK?=H PN=
,N?AR=JK
 )EOECJ=JK A 0EOO=JK  -KH=
 3EHH= $Q=NCJ=J
 
 /KO=I=JE3$

0A?KJ@K&RA 

@=
 KNJE=JK
 OQLL @ANER=VEKJA @= ?KNJQO
 ?KNJAKHQO  !A
#N=J?AO?DE1-

"*KJPE 00
 ?EP=PKLANÈ
?KIA?KJPN=@=
"?BN10-
"!A#N=J?AO?DE
1-

"/=@KOOE1 


0?DE=RQVVE  10-
 
 LNA?EO=! /&$++ „ =J?DA
/+,
 ! CEQN= K>>A@EAJV= =H !KCA  +0- "
*0&


!0-APNQO@AN=J= *0&



!  RAO?KRK 2>=H@K HK @= EJ BAQ@K = /QCCANK
*KNKOEJE  *0& 
 

 ! N=JK
 ! ?KHKJE
L=PNE=N?D=HE  !&

!REHH=N=JK
BAQ@K@AHRAO?KRK
 $JENO
.QAHHAJ&


!PN=>KO?DE 0P=P-KH=



!?KJPN=@=N=JK
!N=J
!LNAOOK*A@K
HEJK
LNKLNEAP=	@AEBN=PAHHE*E?=HEARE?D@E-KIAN
$HE =N?DAKHKCE =BBANI=JK ?DA OE PN=PP= @E QJ ?KILHAOOK
IA@EAR=HA O?KIL=NOK
 @AH MQ=HA LANÈ JKJ ?KJKO?KJK
H	AO=PP= Q>E?=VEKJA  'QNGEÚ$DEN=N@E
 
 &J >=OA =@
=H?QJAEJ@E?=VEKJE
HANKREJA@AHOQ@@APPK=>EP=PK
?DA¿
OP=PK =>>=J@KJ=PK JAH 53& OA? @KRNA>>ANK PNKR=NOE PN=
0EOO=JK
)EOECJ=JKA3NÜAR=J ANPK
=


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
N=JÃÚ ÚG=

H?QJE EJBKNI=PKNE ?DE=I=JKMQAOPE PANNAJEN=JÃÚ
 =HPNE
EJRA?A OKJK ?=PPACKNE?E JAH =BBANI=NA ?DA OE @E?= N=
JÃÚG=
0EPNKR==JKN@@E0EOO=JK
KHPNAL=OO=PKH	KNI=EEJAOEOPAJ
PA )¸GK KJ
 OQ>EPK = OEJEOPN= @AH ?NK?ARE= ?DA @= QJ=
L=NPA LKNP= = 3=HI=NGÈ A @=HH	=HPN= LNKOACQA RANOK HA
-=F=NÃJGAA@EH)¸GK@AELÃJE KJBEJ=?KJE*KJPÃÚE
N=JGKRÃÚK
LLAVV=IAJPE @E PANN= QJ PAILK ?KHPER=PE
 KCCE EJ CN=J
L=NPA A@EBE?=PE
 = OEJEOPN= @AHH= OPN=@= ?DA LKNP= = -KH=
OQ>EPK@KLKEH?EIEPANK
NKJÍ?=
-=O?KHKA=N=PERK=JKN@@E0EOO=JK-NK>=>EHIAJPAQJ=
RKHP==LL=NPAJAJPA=HH=B=IECHE==PEÜEÚ
NKJQVV= 10-

„!?KJPN=@=@E0EOO=JK
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

NÍI>E
 =ILE = KRAOP @E 0EOO=JK OQ>EPK @KLK H	K@EANJ= O?QKH=
OQHH= @AOPN= @AHH= OPN=@= ?DA LKNP= =H ?EIEPANK H?QJE
OKJK=J?KN	KCCE?KHPER=PE=RECJAPKAQHERAPK
ÙQ>¸JGA
 =IL=CJAAL=O?KHE= AOP@E0EOO=JK?EN?KOP=JPE EH)=GK
ÙQ>=JALNAOOKEH(=J¸H@A/EK
!N¸C=
/KO=I=JE ?EP=@N=C=  /KO=I=JE3$
 
 LAN OEJQKOEP¸
@EPANNAJK
EJ?=R=PQN=OPNAPP=@ER=HHA  &RA
" PKLOH=RK@=
?KNNACCANOE EJ 3=HHKJA  @E  =JB=J=NK
 1KL @AHH	=JPE?K
=CNKLKHAOA
CE¸ =J=H-=OO=@KNE@E0EOO=JK
!/$ 10-

„!PANN=OQMQAH@E0EOO=J
0EOO=JKAOEOPKJKR=NEAOQLANBE?E=CN=NEA?KHPER=PAAJKJ
?DE=I=PA!N=C=!
!N¸C=@A#EHÃJE
 =IL=CJ==AOP@E0EOO=JK
@KLKE(ÈHEERANOK/EK
!N¸C=@A(QO¿
-=O?KHK = OQ@ @E 0EOO=JK @KLK !N=C= @A (=J¸H
 =H
?KJBEJA@AH?KIQJA?=P=OP=HA@E)EOECJ=JK
!/ž$!"(³0  0
  /=@KOOE 1 
 
" ?BN !N=C= @E
 QVV= *KJPE 00


 277"„  10-

!!N=C=@E QVVAA@E =
J=H
0EOO=JK &RA



1QPPE EJKOPNE EJBKNI=PKNE?KJKO?KJKOKH=IAJPA H= BKNI=
(QO¿
#=OEJÈP=
 =IL=CJ= = JKN@KRAOP @E 0EOO=JK OQHH= OEJEOPN= @AH
)EIE@K@AE*KJPEÚE
@KLKHA(=NKPÃJA
B=L=NPA@AHH=0AN
N=CHE=CN=J@A *=LL=?=P=OP=HA
,CCE¿EJL=NPAKHERAPK
#ÈE>A
 =ILE=JKN@AOP@AHL=AOARANOKEH(=J¸H@A/EK
 BN=HA
1=N@E¿NAA HA(=N=J@ÍA=@AOPN=@AHH= OPN=@=?DALKNP=
RANOKE(ÈHEE%=JJK@AHHACN=J@ERKN=CEJE=H?AJPNK
#®&" 0
 /=@KOOE1 


?=ILE?KJCN=JRKN=CEJA=H
?AJPNK" &RAIO"  ?BN$N=REOE
 
 "!A #N=J?AO?DE
1-
"/KO=I=JE3$

#®&-& 0

&RAIO
!=H) #,3"
BKOO=
?=R=
$H=RÃO=
0E PNKR= =@ AOP @E 0EOO=JK @KLK E =I=NPÃJE A EH )¸GK
ÙQ>¸JA
OQ>EPK=OQ@@AHHA=N=@ÃJA
,CCE¿MQ=OEPQPPKI=??DE=A>KO?K
$H=REVV=@E0EOO=JK
JAHH=?KJPN=@=@E0*=NPEJK!*KJPA
@AH =OPAHHK !A#N=J?AO?DE1-&&


$H=REV= PKLKJEIK
 JAHH= LKHAO=J= ?E OKJK L=NA??DEA
$H=REVAK$H=RÃVEOA?DAOKOPEPQNKJK
OAJV==H?QJ=@EOPEJ
VEKJAPN=HKNK
EJKIEKNECEJ=NEEP!EH*KJPA@AH =OPAHHK@E
0EOO=JK /KO=I=JE3$


$H=RÃÚEJ=
 =ILK ?DE=I=PK ?KOÃ @=CHE =>EP=JPE @E )EOECJ=JK &
0EOO=JAOE@E?KJK?DAOEPNKR=ÈP=)Eö¸J&JABBAPPE
OE
PNKR=OKLN=H=!N¸C=@A(QO¿
@KLKE-==@ÈNE
$H=RE?EJ=  JAH PANN@E 0EOO=JK
 LNAOOK*=H=!N=C= KOOE=
-=OO=@KNE
! KHHAPPE !A#N=J?AO?DE1-&&


$ÈHA
 =ILELNAOOK*KJPA*=@KJ==AOP@E0EOO=JK
=HH= BEJA
@AH)ÃIE@K@AHA3=HG=PÃJA KJBEJ=JK?KJHA!N=CKHEJAA
EH-NKOPEIK,CCEE0EOO=JAOE HA?DE=I=JKKO=JOGKJ=
OAHFA
)= $KH=
 HK?=H @E 0EOO=JK  
 )A $KHA  
  !A
#N=J?AO?DE1-


$=HHA
)A$=HHA 
 !A#N=J?AO?DE1-

KO
?K@AHHA$JAHPANNEPKNEK@E0EOO=JK 
!=HHAC=HHA
@AHH=MQAN?E=
1ANN=@AHHACKHA *KJPE 00


$NKLÃÚ
0E PNKR= = OQ@KRAOP @E 0EOO=JK @KLK H=3=H @AHA (KJ
PN¸@A
BN=NECJ=JAE-¿OE$N¸J@E
(=I>NQ¸
3=NE?=ILE=JKN@@E0EOO=JK
=OEJEOPN=@AHH=OPN=@=?DA
LKNP= =@HPQN=
 ?EN?=?EJMQA?AJPKIAPNE @KLK EH1N=@E
B¸PK
 =ILKNKO=	 *=LL=?=P=OP=HA


 =ILK/KO¸
  0  !A#N=J?AO?DE 1-
 

  =ILK
/KO¸
HK?=H@E0EOO=JK *=LL=?=P=OP=HA


 =ILKNKO¸
 *KJPE 00

(+/27ž  0
  /=@KOOE1 


 &RAIO" BKNOA OAI
LHE?AIAJPA ?KNNQVEKJA @E (=JLNQV¸  0
  /=@KOOE 1 



(=JLNQV¸  0

 &RAIO"  =ILK/KO¸  *=LL=?=P=
OP=HA

 !A#N=J?AO?DE1-


(=ILKNKO= *=LL=?=P=OP=HA


(=ILKNK= *=LL=?=P=OP=HA


 *-,/,0ž„!?KJPN=@=LNAOOK0EOO=JK
/,0ž„?=ILK/

!OQMQAHHK@E0EOO=JK
(=J¸F
0KJK R=NE =LLAVV=IAJPE @E PANN= =E MQ=HE OE =NNER= =J
@=J@K RANOK *ÈJPA *=@ÈJ= NNER=PE =HH	EJ?NK?EK @AH
)=GK)KNAJOKOECEN==@AOPN=RANOK)EOECJ=JK&JKOPNE
EJBKNI=PKNEJANE?KN@=JKPNA!
(=J¸H$N¸J@K =OEJEOPN=@AH)ÃIE@K@AH=-F¸JP=@=O=


(=J¸H-ÃÚK =@AOPN=@AHH	EJ?NK?EK
LNEI=@E3EHEC¸F


(=J¸H @AE È>ANE  LNKOACQAJ@K RANOK )EOECJ=JK
OQ>EPK
=??=JPK=H(¸NK@AHA3ÃÇA

(=J¸H
2JK@AE?=ILE@AHHA?=IL=CJA?DE=I=PA(=J=F
 =J=H  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ JAHH= ?KJ
PN=@=@E0EOO=JK 

$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

 =J=H  /=@KOOE 1 
 

 ?BN  =J=H  !A #N=J?AO?DE
1-
"*KJPE 00

" )K?=HEP¸JAHH= ?KJPN=@=@E
0EOO=JK 
 !A#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
(=N=J@ÍA
 =ILEAL=O?KHE?DAOEPNKR=JK=JKN@AOP@E0EOO=JK3E
OE =NNER= =J@=J@K LAN EH )EIE@K ?DA LKNP= =HHA1=N@FANA
@KLKHAMQ=HEOEAOPAJ@KJKBEJK=-È?K-KHE¸JA=H(=¸H
@A-EV@¸Ú=
(=NKPÃJA
 =ILE=JKN@@AHL=AOA=@AOPN=@AH)EIE@K?DALKNP==
3=HG=NKJ
OQ>EPK@KLKE*KJPÃÚEALNEI=@AHH=3=HG=JÃC=
(=NÃJE (NÃJE

1ANNAJE?KHPER=PEAJKJ@KLKH=3=H@AHA(=OFARANOK*A
@KHEJK
(=¸E
 =O=CK  !A #N=J?AO?DE 1-
 

 LNAOOK 0EOO=JK
 

 =O=HA
  =O=HE  /KO=I=JE 3$
 

 PKLKJEIK =JPE?K
=CNKLKHAOA
 =O=E
 PKLKJEIK HK?=HEP¸ @AOANP="  =O=HA
  =O=HE PKLK
JEIK=JPE?K=CNKLKHAOA /KO=I=JE3$


 0EOO=JKAOEOPAR=JKA@ AOEOPKJK R=NE ?=ILE ?KHPER=PE A
JKJ?DE=I=PE EJMQAOPKIK@K&H HKNKJKIA
JAHH=I=C
CEKNL=NPA@AE?=OE
@ANER=@=HJKIA@AHLNKLNEAP=NEK
(=¸H@AE=C=ÃJE
2J PAILK?=IL=CJA?KHPER=PAARECJAPE
 KCCE>KO?K0E
PNKR=BN=HA(=N=J@QAAEH(=J=H@A/EK
(=¸H@A'QPÃJ=
0EPNKR==JKN@AOP@E0EOO=JKOQHH=OPN=@=?DA@=HHA3¸HA
LKNP=RANOKEHI=NA=HQK@AH=3AÚ=
2JPAILK?=IL=CJA
KCCE>KO?K
(=¸H@A*=NEF¿H
0EPNKR==AOP@E0EOO=JK=OEJEOPN=@AHH=OPN=@=?DALKNP==
*KJPA*=@KJ=RANOKHA$ÈHA
(=¸H@A*¿JECK
0EPNKR==JKN@AOP@E0EOO=JK@KLKHAÙQ>¸JGAA*ÈJPK
@AH=(=P=NÈÚ=
(=¸H@AE+=JANÃJE (=¸H@A-=N=RÃ=

0EPNKR==JKN@AOP@E0EOO=JK
=OEJEOPN=@AHH=OPN=@=?DA
LKNP=@=H)¸GKÙÍ>=JA=HHA=N=@ÃJA
2JPAILK>AHHEOOEIERECJAPE?KJIKHPEOOEIE=H>ANE@EBE?K
(=¸H@AH=*ÈG=
0E PNKR==@AOPN=@AHH= OPN=@=?DALKNP==-KH=@E BNKJPA
=HH=3=H@AHA)A
(=¸H@A-EV@¸Ú=
0EOO=JKAOEOPKJK@QA(==E @A-EV@¸Ú=2JK OE PNKR=
OQHH= OPN=@= ?DA LKNP= = -KH=
 = OEJEOPN= @AH ?EIEPANK
 LNEI=@AHN=JGKRÃÚK

)	=HPNK
 EJRA?A
 OE PNKR= = JKN@AOP @E 0EOO=JK @KLK HA
(=N=J@Í
APN=*ÈJPK(=PÍOKAE(ÈHEE
(=¸H@A/¿>EÚ
 =ILKAL=O?KHK?DAOEPNKR==JKN@AOP@AHL=AOA@KLK
E=N=J?=JE
(=¸H@A1KI¸K
0E PNKR= = JKN@AOP @E 0EOO=JK OQ>EPK @E BNKJPA =H )¸GK
ÙQ>¸JA
2J=RKHP=RECJAPK
(=¸H@A¸JPK
0E PNKR= = AOP @E 0EOO=JK RANOK*KJPA *=@KJ=
 = OQ@
@AHH	EJ?NK?EK@EMQAOP=?KJEH)¸GK)KN¿JOK
(7ž) !") 0ž+1,  0
  /=@KOOE 1 
 

  =O=H @AH
0=JPK *KJPE 00


(=¸H@A¿LK
0E PNKR==AOP@E0EOO=JKRANOK*KJPA*=@KJ=
=@AOPN=
@KLKH	K@EANJK?=ILKOLKNPERK
(7ž)!")0¥-, 0
 /=@KOOE1 

 =O=H@AH0ALLK
 ?BN*KJPE 00


(=ÈJE )Eö¸JOE

0EPNKR=JK=JKN@AOP@E0EOO=JKOQHH=OPN=@=?DALKNP==
)EOECJ=JK
 =H?QJA ?AJPEJ=E= @E IAPNE = OEJEOPN= @KLK EH
*KJPE¿H
2J= L=NPA @E AOOE ¿ =N=PERK A QJ	=HPN= >KO?K =HH	EJPANJK
@AHMQ=HAOE PNKR=JK=J?KN	KCCEENAOPE@E=H?QJE?=OKH=NE
@=?QED=JJKLNAOKEHJKIA
(ÈHEE
 =ILEA>KO?K=JKN@AOP@E0EOO=JK0EPNKR=JK=HH=BEJA
@AH)ÃIE@K@AE(KNVÈI=JE
PN=*ÈJPK(=PÍOKA!N=C=
 ,)"0&!"*,/"11& !A#N=J?AO?DE1-


 PANN=
PN=0EOO=JKA)EOECJ=JK 

NA?PA KHHAOEJ
 ,))"11&  !A#N=J?AO?DE 1-
 

 JAH PANNEPKNEK @E
0EOO=JKLNAOOKEH>KO?K-=OO=@KNE 

 KHAOE@A*KNAPPE /KO=I=JE3$


PKLKJEIK=JPE?K
=CNKLKHAOA
PANN=PN=0EOO=JKA)EOECJ=JK 

&H(KHEK¿QJ=LE=JP=IA@EPANN=JA=
1=I=NETC=HHE?=
(KJPN¸@A
0EPNKR=JK=OQ@KRAOP@E0EOO=JK@KLKH=3=H@A-ÈH=A
H=1¿N=@AH-N¿PK=@AOPN=BEJKOKPPKEH$NKLÃÚ
 KJPN=@=  /KO=I=JE 3$
 

 PKLKJEIK =JPE?K =CNK
LKHAOAKO?K>=OOK@APPK KJPN=@= 

JAHPANNEPKNEK
@E)EOECJ=JK !A#N=J?AO?DE

&HJKIA@ANER=@=H)  ,+1/%"/"
N=@QJ=NA
QJENA
EJOEAIAA@=H)3 ,+1/1
=CCNAC=IAJPK@EOPN=@A
?DA=LL=NPEAJA=@QJREHH=CCEK
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

(ÈNA
0EPNKR=JK=JKN@AOP@E0EOO=JK=@AOPN=@AHH=OPN=@=LAN
HPQN=
OQ>EPK@KLKE-ÃJE
*=LL=?=P=OP=HA„ KNOA
(®/0" )A
 0
 /=@KOOE1 


?=ILERANOKHPQN=
(KNPÃJ=  ?DE=I=P==J?DA(=¸H@A(¸GK
=N=F¿P=
=N=
F¿P=@A(¸GK

0EPNKR==KRAOP@E0EOO=JKOQHH=OPN=@=?DALKNP==-KH==
OEJEOPN=LNEI=@AH?EIEPANK
(KNVKI¸JE
 =ILEAL=O?KHE=AOP@E0EOO=JK0E=NNER==J@=J@KLANEH
)ÃIE@K@AHA3=HG=PÃJA
CEN=J@KLKE=OEJEOPN= JKN@
LANEH
)ÃIE@K@AE(KNVKI¸JE
=@AOPN=@AHMQ=HA AOP
OEPNKR=JK
MQAOPEBEJK=OKPPKEH*ÈJPK(=PÍOK
*=LL=?=P=OP=HA„ KNOAI=J
 KNVAIKJ
 EJ ?KJPN=@= 0EOO=JE  
  !A #N=J?AO?DE
1-


(,/7"*ž+"  0
  /=@KOOE 1 
 

 >KO?K" DK PNKR=PK
=J?DA HA R=NE=JPE (QNVQI¸JE  BKNOA H= LEÍ @EBBQO=
 A
(KNVKI¸JE
(QG¿N=
 =ILKAL=O?KHK@KLK HA(¸A@AH )¸GK RANOK E -H¿
GKPE
PN=H=OPN=@=?DALKNP==@HPQN=A@EH)ÃIE@K)ÈJCK
(2(¥/ )=
 0
 /=@KOOE1 

"@=HH=PEJK K??QI„
>K??=  -=H=VVE
 !EVEKJ=NEK
"  K??KH=
 >=??=  LAN
NKPKJ@EP¸
  -EJCQAJPEJE
 
 
" ?BN )E  Q?DEANA
 /KRECJK
 /KO=I=JE3$


&JRA?A
EHPKLKJEIK@ARAEHOQKJKIA=CHE=H>ANE@EJK?E
„?K?=?DAERE?NAO?AR=JK
)A@ÃJA
 =IL=CJA= OQ@KRAOP@E 0EOO=JK@KLK*KJPENÈJ RANOK
H=OPN=@=?DA@=-KH=LKNP==*A@KHEJK
)¿NA
 =IL=CJA =AOP @E 0EOO=JK PN= H=3=HRAN¸J= A H= OPN=@=
?DALKNP==*KJPA*=@KJ=
¥N=
B
=E=  ANJA??=!!3&


"N=
=E= !=HH=7KJ?=!3&


&J?KJPN=@=0EOO=JE
Q>E@E?EPQNHA%ANA 
 !A#N=J
?AO?DE
1-

!==NA=
 =N=
AN=  BKNI=@E=HAPP=HA
EOPNE=J=

&¿N=
OB
=E= -AHHEVVAN3!/&

J?DA¿N=
¥N=
 B
 =E=  /KO=I=JE 3$
 
  BN =NE=
 =N=
 =NA=

?=N=H
 EAN=
 =AN=
 HAN= #KNI= OAPP )=P =NA=" ?BN H=P
IA@EKAR%AN= ==1NAREOK
 !"&

/" /"4


)KJC¿NE
 =IL=CJA
CN=J@E=LLAVV=IAJPE@EPANN==AOP@E0EOO=JK
PN=EH)¸GK)KN¿JOKA@EH)ÃIE@K@AHA3=HG=PÃJA
&JKOPNEEJBKNI=PKNELAJO=JK?DAEHJKIA@ANERE@=PKGE
HKJCE
)Q¸J
 =ILE A L=O?KHE = OEJEOPN= @AHH= OPN=@= ?DA LKNP= =@
HPQN=@KLKE-EJERANOK*=CN=J
)QO=J   H= REHH=$E=@NAO?DE ¿ @E @=P= NA?AJPA
 A OKNCA
?ANPKEJLNKOOEIEP¸@AHH=@ENQP=)QO=J
@E?QEEJR=JKBKNOA
OE?AN?DANA>>ANKHAPN=??A
 *KJPE 00


)QO=J 10-

„!L=C=@A?EIK=HRAO?KRK

! PANNEPKNEK @E 0EOO=J
 RAJ@EP= @E L=NPE?AHHA =CHE
HPQN=JE  N?DEREK?=LEPKHEJK

!=OOACJ=PK=E?=LK
B=IECHE=@	HPQN=@=H =LEP=JK@E/=OLK
!?KJPN=@=
@E )QOE=J
 = HAR=JPA @E *=CN=J  )E>NK HPQN=

 !
RAJJANK QHPEI=PA ?ANPA @EBBANAJVA @E ?KJBEJE BN= CHE H
PQN=JE LAN )QO=J
  KHHKJAHHK A #N=PP=
 A@ E  KJPE -KH=
  =OPNKLKH=
@E1NAREOKLANHA?KJPN=@A =ILE
 =RNAO=J
A*KJPA0!=JEAHA
*=CN¸J
 =IL=CJAA>KO?K=JKN@@E0EOO=JKRANOKHPQN=
LANH=
I=CCEKN L=NPA =LL=NPAJAJPE =H ?KIQJA ?=P=OP=HA @E H
PQN=
*=NEÈHEÚGA
LLAVV=IAJPE @E PANN= = JKN@AOP @E 0EOO=JK BN= EH)¸GK
ÙQ>¸JA
HAÙQ>¸JGAAH=3=H@AH=#EHKI¿J=
*=NC¸JGE
0EPNKR==OQ@KRAOP@E0EOO=JKBN=*KJPE¿H-ÃÚKA3KH=
R¸JC= RANOK*A@KHEJK

*=O=G=ÃJ
 =ILK=AOP@E0EOO=JKPN=H=3=HRAN¸J=AHA)¿NA
*A@KHÃJOE
LLAVV=IAJPE @E PANN=
EJ L=NPA KCCE EI>KO?DEPE
 ?DA OE
PNKR=JK= OQ@KRAOP@E0EOO=JK BN=$NKLÃÚA*ÈJPAN=
@=I¸JPA
*EH=RÈFA
 =ILE ?DA OE PNKR=JK = OQ@KRAOP @E 0EOO=JK
 BN=*KJ
PE¿H-ÃÚKA3=H@AE#ECANE *=LL=?=P=OP=HA„3=H@EBECANE

*KJPÃÚE
 KILHAOOK@E ?=ILE A >KO?K = JKN@ @AH L=AOA
 =H?QJA
?AJPEJ=E= @E IAPNE @KLK HA QHPEIA ?=OA A H	KNI=E LNK
O?EQC=PK )¸GK -K¿
 = @AOPN= @AH )EIE@K ?DA LKNP= =
3=HG=JÃC=A3=HG=NKJ
*=LL=?=P=OP=HA„*KJPE?EK
*KJPA??DEK
 *KJPE??DEK
 *KJPE??EK  *KJPE?QHQO
  !A
#N=J?AO?DE
 1-
 
  E OKJK JAHH= -KHAO=J= PNA
HK?=H?KJMQAOPKJKIA!=$=HHAO=JK
=0EOO=JKAH=REHH=
LNAOOK+AO=VEK
 KJPN*KJPA?DEOQLANRE=IMQ=0EOO=JQI 
"*KJ
PA??DEK=E?KJBEJE@E0EOO=JK  
"*=@KJJ=@E*KJ
PE??EK=0EOO=JK 

$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

*,+1©Û& &
 0
 /=@KOOE1 


?KILHAOOK@E?=ILE"
 KJPN *KJPA?DE OQLAN RE=I MQ= 0EOO=JQI  


*KJPA??DEK =E ?KJBEJE @E 0EOO=JK  

 *=@KJJ= @E
*KJPE??EK=0EOO=JK 
 !A#N=J?AO?DE1-

"
*KJPE?QHQO /KO=I=JE3$

"?BN10-

&*KJPE?E OKJK EJ ABBAPPE QJ	=HPQN= @E BKNI= ?EN?KH=NA &H
>KO?K ?DA ERE ?NAO?A ¿ LEAJK @E OPN=@A
 OAJPEANE
 HQKCDE
O?KO?AOE  IANE@EKJA EH PANNAJK @ACN=@= HAJP=IAJPA
RANOKEHL=AOA
IAJPNAH=L=NPAOAPPAJPNEKJ=HA¿LEÍNELE@=
0E LQÈ @=P=NA =HH	 AP¸ @AH >NKJVK A@ ¿ ?ANPK ?DA
OQHH	=HPQN=OE PNKR=R=QJ=JPE?K=>EP=PK  QN
EÚ*=PEF=
EÚ



*KJPENÈJ E

#N=VEKJA@E0EOO=JK=EH=PE@AHH=OPN=@=?DALKNP==-KH=

@KLK EHN=JGKRÃÚK BEJK =H ?KIQJA ?=P=OP=HA @E*A@K
HEJK
*KJPENKJ
?KJPN@E0EOO=JK 

 !A#N=J?AO?DE
1-


*,+1&/®+ 0
  /=@KOOE1 


&HMQ=HQHPEIK?E B=
LAJO=NA = *KPPANKJA  )=CK *=CCEKNA
 ?DA =RNA>>A
@KRQPKNE?KOPNQENOEEJ*KJP=NÈJ@@=IKPPKNKPKJ@K&RA
IO  ?BN !A #N=J?AO?DE 1-
 " I=LL= 2I -KH="
/KO=I=JE3$

"DKNEHAR=PK=J?DA H= BKNI= &*KJ
PENÈJE ?DA EJ@E?=JK EH ?KILHAOOK @AE ?=ILE ?EN?KOP=JPA
 ?BN10-


*,+1&/,+ 10-

„! 0#

!
LNKLKOP=@E?KHPQN=
0EOO=JK
*KJPE¿H
 =ILE = OQ@ @E 0EOO=JK OQHH= OPN=@= ?DA LKNP= = )EOE
CJ=JK=?EJMQA?AJPKIAPNE@=HL=AOA
*,+1&0")  10-
 
„ PANN= LNAOOK 0EOO=JK
 !
-NKLNEAP¸ 0#
*ÈJPK@AF¸JG=
 =ILE A L=O?KHK = JKN@AOP @E 0EOO=JK PN= 3=HG=RAN¿N

*ÈJPK@AH=(=P=NÈÚ=AHA-EKR=JÃFA
*ÈJPK(=PÍOK
LLAVV=IAJPE@EPANN==JKN@AOP@E0EOO=JK3EOE=NNER=
LANEH)EIÃ@K@AE(KNVKI¸JE
=@AOPN=@AHHA(=N=J@ÍAA
LNEI=@AH(=¸H@A-EV@¸Ú=
*ÈJPK@AELÃJE LÃJE

-=O?KHK=JKN@@E 0EOO=JK
@KLK HA-=F=NÃJGA
RE?EJK=H
)¸GK@AELÃJE
*®+1,!"& 0-"©+& 0
  /=@KOOE 1 
 

 ?BN 0LEJA
 
 !A#N=J?AO?DE1-


*KG¸PE
 =ILE = OQ@ @E 0EOO=JK RANOK )EOECJ=JK
 =H?QJA ?AJPE
J=E=@EIAPNE@KLK EH*KJPE¿H
= OEJEOPN=@AE(=ÈJE0E
PNKR=JKJAH PANNEPKNEK@E0EOO=JK
LANÈ ELNKLNEAP=NE OKJK
@E)EOECJ=JK
*=LL=?=P=OP=HA„*QO?=PE
-=H¿@E
 =ILE=@AOPN=@AHH=OPN=@=?DALKNP==*KJPA*=@KJ=

=HH	EJ?NK?EK?KJEH)¸GK)KN¿JOK
-=KHÃJE
 =ILE RE?EJK =H I=NA JAH LKNPK @E )EOECJ=JK „ (QEA
0KJKOEPQ=PE=@AOPN=@AHH	ATB=>>NE?=@ELKIK@KNERANOK
H=?KJPN=@=@E0IEHFAR=?
-=N=@Ã
LLAVV=IAJPE @E PANN= = JKN@ @E 0EOO=JK OQH )ÃIE@K
)ÈJCK
LNEI=@AHH	EJ?NK?EKLAN3=HI=NGÈ
-=N=@EO
 HK?=H LNAOOK 0EOO=JK  
  !A #N=J?AO?DE
1-


-=N=@EOPKLLNAOOK0EOO=JK 
 /KO=I=JE3$


.QAOPEOE@ERE@AR=JKEJ!
-=N=@Ã@AE#ÃGE
 =ILE=JKN@@E0EOO=JK=@AOPN=@AH)ÃIE@K)ÈJCK@KLK
HAQHPEIA?=OA
-=N=@Ã K
@AE)¿JOE
 =ILE = JKN@ @E 0EOO=JK = OEJEOPN= @AH )ÃIE@K )ÈJCK
@KLKHAQHPEIA?=OA
-¸PANJE
 =ILE @E 0EOO=JK OEPQ=PE @E BNKJPA =CHE K@EANJE =OEHK A
O?QKH=,CCERECJAPE
=H?QJEH=RKN=PEA=HPNEJK
-ANE@ÃJ=
 =ILE EJL=NPA EI>KO?DEPE
 OQHH=@AOPN=@AHH= OPN=@=?DA
@=0EOO=JKLKNP==@HPQN=RE?EJK=HH	=>EP=PK@AE =OKJE„
2
EÚARE!RKNE
*=LL=?=P=OP=HA„-ANE@EJ=
-¿OE$N¸J@E
LLAVV=IAJPE @E PANN= = OQ@KRAOP @E 0EOO=JK BN= EH
$NKLÃÚ A E*A@KHÃJOE 0KJK LNKLNEAP¸ @ACHE =>EP=JPE @E
*A@KHEJK
*=LL=?=P=OP=HA„-AVVECN=J@E
-ENEIÃÚG=
 =ILE = @AOPN= @AH )ÃIE@K )ÈJCK PN= H= 3=HG=JÃC=

1N=@EB¸PKA(=I>NQ¸
2J=RKHP==N=PERKARECJAPE
  0#„ KJRAJPK@E0#N=J?AO?K*=PEF=
EÚNEPEAJA?DAOEPN=PPEBKNOA@AHH	=>>NARE=VEKJA@AHJKIA@E @A#N=J?AO?DE
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

-E?ÃJA -A?ÃJA

 =ILEOEPQ=PEPN=*KJPENÈJRANOK7=IL=JK+KJB=JJK
L=NPA@AH?KIQJA@E0EOO=JK
LANÈEHPANIEJA¿QO=PK@=
PQPPEEJKOPNEEJBKNI=PKNE
3K?A?NK=P=LAN?=RANJ=
>Q?K
-ÃJE
1ANNAJE=OEJEOPN=@AHH=OPN=@=?DALKNP==@HPQN=
LK?K
LEÍ@EQJ?DEHKIAPNK@=HL=AOA
-EJE  &
  /=@KOOE 1 
 

   -EJEO A 0=RECJ=J= 
 *KJPE 00


-FKR=JÃFA
 =ILE = JKN@AOP @E 0EOO=JK =E MQ=HE OE =NNER= LAN EH
)ÃIE@K?DA@=H)¸GK*QÃJ=NNER==HHAÙQ>¸JA
=OEJEOPN=
LNEI=@AH*ÈJPK@AH=(=P=NÈÚ=
-EKR=JEA )A
  !A#N=J?AO?DE1-


 HK?=HEP¸JAHH=
?KJPN=@= @E 0EOO=JK  
  *=LL= ?=P=OP=HA
 

 EK¿PANNAJE=LL=PNAJAJPE=HH=-EARA
-EKR=JEA  !A #N=J?AO?DE 1- &&
 

 >AJE ?=ILAOPNE
=LL=NPAJQPE =HH= ?DEAO= LEAR=J=HA )K?=HEP¸ @E MQAOPK
JKIA?EOKJK=0EOO=JKA-NKIKJPKNA)=BKNI=OH=R=R=
?KNNAPP=EJ!-EAR=JE=
-EKR=JÃA )A
 /KO=I=JE3$


PKLKJEIK=JPE?K=CNK
LKHAOAJAHH=?KJPN=@=@E0EOO=JK 

 EK¿PANNAJE=LL=NPAJAJPE=HHA-EARE !A#N=J?

-&"3+&" 10-

„!?KJPN=@=@E0EOO=JK
-),3+& 10-

„!?KJPN=@=0EOO=JK
-È?K-KHE¸J
 =IL=CJA?KJ=H?AJPNKQJLKVVKLNKBKJ@K@=HMQ=HA=
OQK PAILK OE =PPEJCAR= H	=?MQ= &J OACQEPK QO=PK =J?DA
?KIA BKE>= LAN =JEI=HE0E PNKR= = JKN@AOP @AH L=AOA
@KLK)¸GK*QÃJ=JKN@@AHHA1=N@F¿NAA@AHHA(=N=J@ÍA
BEJK=HHA1¿NA@A/ÍI=J
*=LL=?=P=OP=HA„-KPVKLKHEO=J
-KHEO=JA-KJEO=J  !A#N=J?AO?DE1-

!?KJPN=P=
0EOO=JEQ>E@E?EPQN-KJEO=J 
"JAHH=*=LL=?=P=OP=HA
@AH¿OACJ=PKEH-KVVK-KHEO=J
-KHEO=J  !A #N=J?AO?DE 1- &&
 

 ?KJPN=@= @E 0EO
O=JK ?KH )=?K  EQ>=JA  ?=N*EHEP
! NA?PA! -KJEO=JK K
IACHEK-KJE?E=JKAH=?K-
-KOPKH=NÃÚG= -KOPKH=NÃ?=

 =IL=CJ= = JKN@ @E 0EOO=JK @KLK EH )ÃIE@K )ÈJCK

L=OO=PAHA-=F=NÃJGAAEH)¸GK@AELÃJERANOKHPQN=
*=LL=?=P=OP=HA„-KOPKH=NEVV=
-K¿A
 =ILE=JKN@@AHL=AOAOQ>EPK@KLKH	KNI=ELNKO?EQC=PK
)¸GK-K¿ALNEI=@AE-N=@E¿F
*=LL=?=P=OP=HA„-KOOAOOA
-KOOAOOA  !A#N=J?AO?DE1-

OE PNKR= PQPPKN=JAH
?EN?KJ@=NEK @E 0EOO=JK  *=LL= ?=P=OP=HA
 
   BN
/KO=I=JE 3$
 
" -KOOAO  *KJPE  00
 
"  -,01
0"!" &*  
! -27¥0"  )A
  $
  /=@KOOE 1 
 

 &RA
IO-,0¥0" )A
 0

*=¿@EBBE?EHAPNKR=NEHRANKIKPERK
@	=LLHE?=VEKJA  LAN LKOP OA@A?EI

 A@ E NEBHAOOE LKPNA>
>ANK NEOQHP=NA @=H L=NPE?ELEK @E=HAPP=HA =>>NARE=PK LKO
OAOO=
LANLKOOA@QP=„&RAIO
-N=
-N¸ *KJPE 00


& JKOPNE EJBKNI=PKNE JKJ QO=JK MQAOPK PANIEJA
 >AJOÄ E
@QAOQ??AOOERE!
-N¸ @AE*KNÈJE  = JKN@ @E 0EOO=JK @KLK EH ?EIEPANK PN=
)¸GK+KJAE-N=@E¿F"B=L=NPA@AHA-K¿A

-N¸ @AE (N¸JOE  = OQ@KRAOP @E 0EOO=JK BN= EH1ÈNÚK A 0
/ÈGK=@AOPN=@AHH=OPN=@=?DALKNP==)EOECJ=JK

-N=@E¿F
 =ILE=JKN@KRAOP@E0EOO=JKPNA?AJPKIAPNE?EN?=@KLK
H	=>EP=PKOQH)ÃIE@K?DALKNP==3=HG=JÃC=
=OEJEOPN=@AE
*KJPÃÚE
/=P¿H
 =ILK=OQ@KRAOP@E0EOO=JK BN=*=PEKA/ÈGK
=
@AOPN=@AHH=OPN=@=?DALKNP==)EOECJ=JK
/=OPAH *KJPE 00


*=LL=?=P=OP=HA„/AOPAH
0AHÃJA
*=LL=?=P=OP=HA„0AHEJA
 =ILELNAOOKHPQN=
0")©+" )A
 0
 /=@KOOE1 


RANOK=@È"&RAIO"
0AHEJ=  *KJPA
 A 0KHEJK  3=HHA
 @=H JKIA OKHEJQO
OKHACCE=PK ?BN/"4

 !A#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
0ANAFÈH
 =ILE = JKN@ @AH L=AOA = @AOPN= @AH )ÃIE@K )ÈJCK BN=
3=HI=NGÈA1N=@EB¸PK
*=LL=?=P=OP=HA„7ANAOEKH
 ANAOEKH
 HK?=H@E0EOO=JK  
  !A#N=J?AO?DE1-


!=?AN=OQO
 ANAOEÉH   ANACEKHK
  $N=REOE
 
 
 „ ?=IL=CJ=
LNAOOK0EOO=JK
KN=?KHPER=P== RECJ= A LN=PK
I=QJ@Ã
LEAJ=@E?EHEACE
0"/&7&®)  0
  /=@KOOE 1 
 

  ANAOEKH
 HK?=H @E 0EO
O=JK 
 !A#N=J?AO?DE1-


0E>NÃÚ=
 =ILK = JKN@ @E 0EOO=JK MQ=OE =HH= BEJA @AH )ÃIE@K
)ÈJCK
@KLKH=-ENEIEÚG=A=@AOPN=@AHHA-=F=NÃJGA
& JKOPNE EJBKNI=PKNE NE?KN@=JK @QA 0E>NÃÚA QJ= RE?EJ=
=HH	=HPN=!
0E>NÃÚ=@A(K¸N=

0E>NÃÚ=@AE!È@E
=HKN¿JOE
 KILHAOOK @E ?=ILE ?KJ H	KIKJEIK OP=CJK = AOP @E
0EOO=JKBN=HA3=HG=PÃJAAHA$ÈHA
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

*=LL=?=P=OP=HA„0=J)KNAJVK
0+),/¥+0& 0
 /=@KOOE1 


?KILHAOOK@E?=ILE
=H?QE?AJPNKR	AN= H=?DEAOAPP=KIKJEI="  QJ@Ã AOE
OPAR=QJ=?DEAOAPP=@A@E?=P==0)KNAJVK
@E?QE=LLAJ=
OEO?KNCAMQ=H?DANEI=OQCHEK@AHNKVVKL=REIAJPK=IK
O=E?K@E H=PANEVE/EA@EBE?=P=JAH@=EJQKRE=>EP=JPE
@E )EOECJ=JK
 A @KP=P= JAH  @E =H?QJE BKJ@E @=H
LNKRRA@EPKNA+E?KHÈ0=H=IKJ
=J@ÈLEÍ P=N@E EJ NKREJ=
 *KJPE 00


=I=NPÃJE
 =ILE RANOK -QJP= 00PAB=JK
 = AOP @AH L=AOA @KLK EH
)¸GKÙQ>¸JA
BN=H=3=H@A2HAAH=$H=RÃO=
0+*/1©+& /=@KOOE1 


?KILHAOOK@E>KO?DEA
?=ILE"  HA=HPQNA@E0*=NPEJK
@KRAOKNCAR=
 EJPKNJK
=@ QJ= ?DEAOQKH= @A@E?=P= =H O=JPK IEHEPA
 QJ= REHHAPP=
@AJKIEJ=P= 0=J *=NPEJK @AH IKJPA @AH  =OPAHHK
 =L
LQJPK LAN?DÀ ?KH¸ PNKR=R=OE QJ A@EBE?EK BKNPEBE?=PK „
 00
L
*/1&+,  10-
 
 „ 0=J *=NPEJK
 ! RE?EJK
0EOO=JK  )  

REHH=LNAOOK0EOO=JK
! PANN=@E
0EOO=JK
F¸K
 =ILE = @AOPN= @AHH= OPN=@= ?DA R= = -KH= @E BNKJPA =H
N=JGKREÚK
0+&ž7, 0
  /=@KOOE1 


?=ILE?KHPER=>EHE"?BN
&RAIO
=N¸F=
0ANN=E= !A#N=J?AO?DE1-


JKIA?KIQJEOOEIK
JAHH	=CNK LKHAOA LAN @AJKP=NA QJ PANNAJK ?DEQOK @= QJ
NA?EJPK@EIQNEKOEALE
0=N=EA  /KO=I=JE3$
 

 PKLKJEIK =CNK LKHAOA 0AN
N=CHE=
  PANNAJK ?DEQOK @= QJ NA?EJPK @EIQNE??EKHE K @E
OEALE =*A@KHEJK
-KIAN
-NKIKJPKNAH=R=NECK

0AN¸E= *=JVEJE
/K??DE!0#" 


OB =CN
L=O?KHK
?DEQOK
 KNNEOLKJ@AJPA@E RAJAPKOAN=CE= OANN=CHEK" OPA??=PK#
H=PL=NHOANN=?QHQI?DEQOQN=
0=N¸E=   ANJA??= !!3
 

 B L=NPE?AHH= @E >KO?K
NA?EJP=P=
0EOO=JKAOEOPKJKR=NEA=N¸FA
=N¸F=@AEÈE
 =ILKRANOKHPQN=@KLKEH1N=@EB¸PK=OEJEOPN=
=N¸F=@AE(¸NEÚE
 =ILK=H>EREK@AH)ÃIE@K )ÈJCK AMQAHHK?DALKNP= =
@AOPN=RANOKEH1N=@EB¸PK
=N¸F=@AE*=NEJÈJE K@EANJ==N¸F=@AEEJÚÃÚE

0E PNKR= = AOP @E 0EOO=JK RANOK*KJPA*=@KJ=
 =H?QJA
?AJPEJ=E=@EIAPNE@KLKEH?=ILKOLKNPERK
=N¸F=$N¸J@=
!KLK E*KJPÃÚE
 RANOK $E=@NAO?DE 0E PNKR= = JKN@ @AH
L=AOA=OEJEOPN=@AH)ÃIE@K?DALKNP==3=HG=JÃC=
@KLKE
-N=@E¿FRANOK3=HPAH¸
*=LL=?=P=OP=HA„0AN=CHE=CN=J@A
0/ž&$/ž+! 0

&RAIO /=@KOOE1 

 +KIA
HK?=HABKNI=PK@==CCAPPERK

=N¸F=@A*=NPÃJGK
$N=J@A ?=ILK = AOP @AH L=AOA RANOK*KJPA *=@KJ=

LK?K@KLKEH?=ILKOLKNPERKOQHH=@AOPN=
0/ž&!"*/1©+(, /=@KOOE1 


=N¸F=@A0ÃJÚEÚ
0E PNKR= @E BNKJPA =HH= 3=HRAN=J= @=HH	=HPN= L=NPA @AH
)EIE@K@AHA3=HG=PEJA
=N¸F=1ÈJ@=
 =ILK LNAOOK EH L=AOA @E BKNI= PKJ@ACCE=JPA 0E PNKR=

LNA?EO=IAJPA
=OQ@@E0EOO=JK
=OEJEOPN=OQHH=OPN=@=?DA
LKNP==)EOECJ=JK
OQ>EPK@KLK/ÈGK
*=LL=?=P=OP=HA„0AN=CHE=PKJ@=
0/ž' 1®+!  0
  /=@KOOE 1 
 

 ?BN 0ANN=CHE=
PKJ@= *KJPE 00


+KIABKNI=PK@=QJ=CCAPPERK
=JF¸K
 =ILE = @AOPN= @AHH= OPN=@= ?DA @= 0EOO=JK LKNP= =
-KH=
@EBNKJPA=N=JGKRÃÚKAH=3=H@AHA)A
*=LL=?=P=OP=HA„0=JE=CCEK
0+&ž7, 0
  /=@KOOE1 


?=ILE?KHPER=>EHE"?BN
&RAIO
1ANIEJA@ANER=JPA@=HJKIALNKLNEK)0&20
¿RA
 =ILEA@=>EP=PKLNAOOKEHLKVVK@E0EOO=JK0EPNKR=JK=
OQ@KRAOP @E 0EOO=JK@KLK3KH=R¸JC=
 BN= HA*EH=RÈFA A
*ÈJPA N=@=I¸JPA@= QJ= L=NPA A*KJPENÈJ @=HH	=HPN=
-NKOACQKJKJAH?KIQJA?=P=OP=HA@E*A@KHEJK
*=LL=?=P=OP=HA„0ARA
0ARAK0EARA /KO=I=JE3$


PKLKJEIKPN=*A@K
HEJK
 =N>K=HJK
 A 1KNPE=J
  KJPN=@= 1=E>=J
 KN= RKH
C=NI @APP= 0ARA  
  =C
 1=E>=JK  !A #N=J
?AO?DE

F¸J=@AE#EHÃJE
LLAVV=IAJPE @E PANN= = OQ@ @E 0EOO=JK
 @KLK EH*KJ
PE¿H
OQ>EPK@KLKH	EJ?NK?EK?DALKNP==@NECJ=JK
P¸JOEA
*=LL=?=P=OP=HA„0P=JVE=
0P=JOE= B   ANJA??= !!3&
 
 B=PPKNE=" OP= O 7A
CN=J@=
0P¸JOE= OB  -AHHEVVAN3!/&
 
 „ PAJQP= =CNE?KH=
 B=P
PKNE
 LK@ANA?=ILAOPNA EOKH=PK!=H H=P OP=JPE=  (ÌNPEJC




0P¸JVE=  -EJCQAJPEJE+!!1
 
 „ LK@ANA
 PAJQP=
 B=P
PKNE=
?=OKH=NA?=ILAONAEOKH=PK"¿@ARAN>=HA@EOP=NA
0P=JVE= (ÌNPEJC


!01ž+0&" )A
  0

 &RAIO
 /=@KOOE1 


0P=JOE=   PJ 2 - -EN ! / $=HH
 B  /KO=I=JE 3$



LK@ANA?KJ?=O=?KHKJE?=
B=PPKNE=
0P=JVE=   3ANP
 B  /KO=I=JE 3$
 

 PAJQP=
 LK
@ANA
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

0P¸JOE=  1AG=RÜEÚ 1/!&
 
 0P=JVE= OECJEBE?= LK@ANA

LKOOAOOK PANNAJK  /KO=I=JE
 3$
 

 PAJQP=
 LKO
OA@EIAJPK $N=REOE



01+7"  0?DE=RQVVE 10-
 
 „ ! ! )=
OP=JV=
 PANNEPKNEK @E 0EOO=JK
 RAJ@QPA L=NPE?AHHA =CHE
HPQN=JE N?DEREK?=LEPKHEJK

&JKOPNE EJBKNI=PKNEQO=JKMQAOPKJKIA?KHHAC=J@KHK=H
JKIA@AHLNKLNEAP=NEK
P¸JOEA@AÙAN¿H ÙAN¿HK

 =ILE
 L=O?KHE A OP=HHA = JKN@AOP @E 0EOO=JK @KLK E
=N=J?¸JERANOK-ÈNPK=@È
 =HEH @A  ANÀ  !A #N=J?AODE 1-
 

 HK?=H @E
0EOO=JK  
 #KNOA @= ?=HHEO A @= ?ANNQO
 ?AN
NAPQI
?ANNÀ
 =HEH@A ANÀ /KO=I=JE3$

PKLKJEIK=JPE?K=CNK
LKHAOA@E0EOO=JK 

P¸JOEA@AH(KIÍJ
 =ILE A L=O?KHE RANOK -KH= ,CCE B=JJK L=NPA @AH ?K
IQJA@E-KH=
)	QHPEIKLNKLNEAP=NEKAN=QJP=H(KÚARFA
?DAJKJ=RAJ@K
ANA@E
H=O?EÈPQPPK=H KIQJA@E-KH=
P¸JOEA@AE!È@E
 =ILEAL=O?KHE=JKN@AOP@E0EOO=JK
=JKN@@AH(=¸H
@A-=N=RÃ=
P¸JOEA@AE#ÈHE @A#ÈHK

>EP=VEKJA A OP=HHA @AE #KHK ?KJ ?=ILE =@E=?AJPE 0E
PNKR=JK=@AOPN= @AH )EIE@K@AHA3=HG=PEJA RANOK H=3=H
@A$ EJA3=H@AH=(¿G=
P¸JOEA@AEL¸@E
 =ILE
 L=O?KHE A OP=HH= = JKN@AOP @E 0EOO=JK
 LK?DA
?AJPEJ=E=@EIAPNELNEI=@AHHA1=N@F¿NA=@AOPN=
P¸JOEA@A7KR=J¿N
 =ILEAL=O?KHE=JKN@AOP@E0EOO=JK
=JKN@@AH(=¸H
@A-=N=RÃ=
QNE¸J G=NJÈOE

 =IL=CJ==AOP@E0EOO=JKRANOK*KJPA*=@KJ=
?AJPK
IAPNE@KLKEH(=¸H@A¸JPK
7KR¸JA 0$EKR=JJE

*=LL=?=P=OP=HA„0=J$EKR=JJE
LLAVV=IAJPE@EPANN==JKN@@E0EOO=JKBN=H=3=HRAN¸J=
A)¸GK*QÃJ
=@AOPN=@AHH=OPN=@=?DALKNP==@HPQN=
&JMQAOP=HK?=HEP¸P=JPKPAILKB=OEPNKR=R=QJ=?DEAO=
1=N@F¿NA
*=LL=?=P=OP=HA„1AN=@EANA
 =ILK = JKN@AOP @E 0EOO=JK = OEJEOPN= @AH )ÃIE@K ?DA
LKNP==HHA(=N=J@ÍA
 LK?DA?AJPEJ=E=@EIAPNE@KLK H=
P=JOÃ=@AEL=@E
1AN=@AANA0EOO=JK !A=JKREÚ1!&


#NAMQAJPAH=R=NE=JPA1¿NA@	E¿NA
1¥/!	¥/" 0
 /=@KOOE1 


"N= /KO=I=JE3$

PKLKLKJEIK=JPE?K=CNKLKHAOA
LNAOOK N=JK%AN=  
" PANN= LNKLA ¸N=O  
" EJ
?KJPN 0EOO=JE
 Q>E @E?EPQN HA %ANA  
  !A #N=J
?AO?DE

1¿N=@AH=)¸I=
0E PNKR= = KRAOP @E 0EOO=JK
 OQ>EPK @KLK H	EJ?NK?EK ?DA
LKNP==-KH=
LEÍ=R=JPE@KLKH=(KNPÃJ=
)=I=  !A#N=J?AO?DE1-

!LAJAOREHH=I0EOO=JE

EJ HK?K RK?=PK )= )=I=  
 !=H H=P ?H=OO H=I=

LKVV=JCDAN=
L=HQ@A+AH@E=HAPPK@AHH	&OPNE=IANE@EKJ=HA
AMQER=HA=OP=CJK
H=?K /KO=I=JE3$


1¥/!¥))ž* 0
 /=@KOOE1 


1¥/!¥))ž* 0
 /=@KOOE1 


?BN1ANN=@AHH=
H=I= *KJPE 00


1¿N=@AH-N¿PK
3=OPK?=ILK=OQ@@E0EOO=JK
=@AOPN=@AH*KJPE¿H
BN=
H=3=H@A-ÈH=A3=H@AHA(KJPN¸@A
1¿NA@AEEJÚÃÚE
0EPNKR=JK=JKN@AOP@E0EOO=JK
=JKN@@AH)¸GKÙQ>¸JA
RANOKE=N=J?¸JE
2J=RKHP==N=PERK
KCCEPQPPK>KO?K
1ANN=@AHHE$EKR=JJE
0ACJ=PA OQHH=*=LL= ?=P=OP=HA @E 0EOO=JK 0E PNKR=JK =
JKN@AOP @AH L=AOA PN= EH )ÃIE@K @AE (KNVKI¸JE @= QJ=
L=NPA A!N¸C= A $H=RÃO= @=HH	=HPN= & JKOPNE EJBKNI=PKNE

?KIALANP=JPE=HPNEJKIEOACJ=PEOQHH=*=LL=?=P=OP=HA

D=JJK@EREOKEH PANNAJKEJP=JPE=HPNE EJ>=OA=EJKIE@AE
LNKLNEAP=NE K =HPNE PKLKJEIE  3=H @A 2HA
 (=¸H @A
1KI¸K
1ANA@A*=ö=LKH¿JP=A??

1¿NA@A*=ö=LKH¿JP=
 =ILE A L=O?KHE = JKN@AOP @E 0EOO=JK BN= (=¸H @A
1KI¸K A!N¸C= @A (=IL=J¿N & 0EOO=JAOE NE@AJ@K HA
?DE=I=JK?=ILKOLKNPERK@AELKN?DEO=HR=@ECDE
1¿NA@A/ÍI=J
 =ILE=JKN@@E0EOO=JK
=@AOPN=@AHH=OPN=@=?DALKNP=
=@HPQN=BN=)¸GK*QÃJA-È?K-KHE¸J@=QJ=L=NPAAHA
(ÈNA@=HH	=HPN=
1N=@EB¸PK
 =ILE A L=O?KHE =HH= BEJA @AHH	=>EP=PK
 = OEJEOPN= @AHH=
OPN=@=?DALKNP==@HPQN=LNEI=@AH(=I>NQ¸
)=HACCAJ@=J=NN=?DAEJMQAOPKLQJPKRAJJAPN=@EPKQJ
L=PPK 1N= 0EOO=JK A *KNIKN=JK OE @KRAR= PAJANA H=
>=PP=CHE=LANH=?QOPK@E=@AENAOPE@E0)KNAJVEJ)= HKPP=
@KRAR==RANEJEVEK=IAVVK@Å
I=E0EOO=JAOEOQKJ=NKJK
HA ?=IL=JA LNEI= A REJOANK H	=RRANO=NEK EILNAL=N=PK
-NAOANK EH ?KNLK I= E REJPE JKJ =??APP=NKJK A RKHHANK
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

PKCHEANA EH 0=JPK @=HHA I=JE @AE REJ?EPKNE &H ?KNLK OE
OLAVVÈ A =E *KNIKN=JAOE NEI=OA EH >N=??EK IAJPNA EH
NAOPK@AH?KNLK=J@È=E0EOO=JAOE
1N=RKHÃJ@A1AN=BÃJ=
 =ILK=OEJEOPN=@AH)ÃIE@K)ÈJCK
OQ>EPK@KLKH==N¸F=
@AE(¸NEÚE
1N¿>KHA
0QHH=I=LL= ?=P=OP=HA OE PNKR=JK = OEJEOPN= @AHH= OPN=@=
?DALKNP==@HPQN=BN=H=(QG¿N=A3=HI=NGÈ
,CCE E 0EOO=JAOE ?DE=I=JK1N¿>KHA H= VKJ= @AHH	=>EP=PK
QJ?AJPEJ=EK@EIAPNE@KLKH=?DEAO=PN=HA(=A@AH)=GK
A@EHIQHEJK
1NA>KHA  )A
  !A #N=J?AO?DE 1-
 

 @E 0EOO=JK
 

1/¥,)" )A
 0
 /=@KOOE1 


LE??KHK=>EP=PK
1NA>KHA  )A
  /KO=I=JE 3$
 

 PKLKJEIK =JPE?K
=CNKLKHAOA@E0EOO=JK 
 !A#N=J?AO?DE

/=@KOOE =BBANI=?DA EH PANIEJA@ANERE @= QJ JKIA LAN
OKJ=HA1/"&2
1ÈNÚK
LLAVV=IAJPE@E PANN==@AOPN=@AHH= OPN=@=?DA@=HH†EJ
?NK?EKLAN-KH=LKNP==)EOECJ=JK
LNEI=@AH)EIE@K?DA
?KJ@Q?A=*KJPEAH-EÚK
3=H¸HPA
#=JJK L=NPA @AHHA 3=H¿PA @AHHA 3=H?=PÃJA 0E PNKR=JK =
OEJEOPN= @AHH= OPN=@= ?DA LKNP= =*KJPA*=@KJ= LK?DA
?AJPEJ=E=@EIAPNE@KLKEH?=ILKOLKNPERK
BN=HA3=HÃOAA
H=3=H@A$ EJ
3=H@A¿LE*ÈNK
0EPNKR==JKN@AOP@E0EOO=JKPN=H=3=H@A(KIÍJA3=H
@A*=NÚ¿P=
3=H@AN¸@E?=
 =ILELNAOOK0-EANK
RANOKH=3=HRAN¸J=PN=H	=>EP=PKAE
3=ÍPE
3=H@AQP¸OK -QP¸OK

3=HHA =*KJPENKJ OQHH= OEJEOPN= @AHH= OPN=@= ?DA LKNP= =
-KH=
 OQ>EPK @KLK H= 3=H @AHA )A ,CCE EJAOEOPAJPA EJ
MQ=JPK@QN=JPAEHNEAILEP=?KJI=PANE=HE@EO?=RK
3=H@AÙÃLK
0EPNKR==JKN@AOP@E0EOO=JKOQ>EPK@KLKHA=NA@ÃJAA
RANOKE=N=J?¸JE
3=H@AH ÈPK
 =ILK?DAOEPNKR==@AOP@AHL=AOABN=H=(=H@A*KJPA
*=@KJ=AH=)EIE@K@AE)KNAJOE
3=H@AHA1=EJ¿NA
1ANNAJE QJ PAILK ?KHPER=PE KCCE @AH PQPPK EI>KO?DEPE 0E
PNKR= = AOP @E 0EOO=JK
 =HH	EJPANJK @AHH=-ÍJP=$N=L=?ÈE
RANOKJKN@@KLKE-K¸NE
3=H@A1=L=ÃJ
0E PNKR==@AOPN=@AHH= OPN=@=?DAR=RANOK)EOECJ=JK@E
BNKJPA=E)Eö=J?E(=KJE
3=H@AE#ÈHE
3=HHA = OEJEOPN= @AHH= OPN=@= ?DA @=H L=AOA R= RANOK
*KJPA*=@KJ=
@KLKHA3=H=HPA,CCEEIIKJ@AVV=EK
3=H@ACN¿LA
*=LL=?=P=OP=HA„3=H@A$N=IL=
 =ILE?DAB=JJKL=NPA@AH3=N¿=JKN@KRAOP@AHL=AOA
@KLK3=HPAH¸OAHA-=F=NÃJGA
)A $NALA  !A #N=J?AO?DE 1-
 

 PN= *A@KHEJK A
0EOO=JK! &J R=HHA @A HA $NALA" ,NPQO $NAL=NQI  


!=CNALLK
CNALLA
HQKCDEO?KO?AOE
3=H @A$N=IL=  !A#N=J?AO?DE 1-
 

 HK?=HEP¸ @E
0EOO=JK *=LL=?=P=OP=HA


3=H@A$ EJ
@E=?AJPA = MQAHH= @AE #KHE
 A ?KIA MQAHH= EIIKJ
@AVV=EK
3=H@A-ÈH=
0EPNKR==OQ@@E0EOO=JK
LK?DA?AJPEJ=E=@EIAPNE@KLK
EH=J/ÈGK
=@AOPN=@AHH=OPN=@=?DALKNP==)EOECJ=JK
 =H@A-KH= !A#N=J?AO?DE1-


HK?=HEP¸@E$=H
HAO=JK?KJQJ=REKPPKH=?DA?KJ@Q?AR==-KH=
 =H@A-KH=
&RAIO /=@KOOE1 


3=H@AEBEC¿NE
*=LL=?=P=OP=HA„3=H@EBECDANE
0EPNKR==OQ@KRAOP@E0EOO=JK@KLKEH*KJPE¿H-ÃÚK
BN=
HA*EH=RÈFA
*ÈJPAN=@=I¸JPAA3=H@AHA(KJPN¸@A
3=H@AE#EH¿PE 3=H@AQL¸J

0EPNKR=LNAOOKE=N=J?¸JE=JKN@@AH(=¸H@A-=N=RÃ=
-NAJ@A EH JKIA @=HH= LE=JP= „ BEHAPE A @=H OQK QHPEIK
LNKLNEAP=NEK„*=PAQL=J
3=H@AE#EHÃJE
 =ILEKCCEEI>KO?DEPEOQ>EPK@KLKH=3=H@AHA>EO=CA
3=H@AE1=HLÈJE
 =ILEAL=O?KHE=JKN@AOP@E0EOO=JKOQ>EPK@KLKH=3=H
@A-EPÈ=?RANOKPAB=JK
1=HLKJE  $N=REOE
 
 
 „ >KO?K LNAOOK 0EOO=JK

?KOPEPQEPK=LNABANAJV=@=P=HLKJE LEKLLE

&H>KO?K¿?EP=PK=J?DA@=/KO=I=JE=L=C /KO=
I=JE3$

$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

3=H@A(KIÍJ 3=H@AE'=@NAG¸JE

 =ILEAL=O?KHE=JKN@AOP@E0EOO=JKRANOKE=N=J?¸JE

KCCEEI>KO?DEPE
3=H@A*=NÚ¿P=
 =ILEAL=O?KHERANOKE=N=J?¸JE
KCCEEI>KO?DEPE
3=H@AH=(¿G=
 =ILK=@AOP@E0EOO=JKOQ>EPK@KLKH=3=H@A$ EJ
3=H@AH=#EHKI¿J=
 =ILEAL=O?KHERANOK/EK
RE?EJK=HHA*=NFÈHEÚGA
3=H@AH=*EÚ¿H= 3=H@AE*ÈNE

 =ILK=JKN@ @AH L=AOA
 @KLK(=I>NQ¸
 OQHH= @AOPN=
RANOK HA -FKR=JÃFA 0E ?DE=I= 3=H @AH= *EÚ¿H= LAN?DÀ
LNKLNEAP¸@AHI=NEPK@AHH=*EÚ¿H=
3=H@AHAEO¸CA
0KJK@QAR=HHEQJ=@EBNKJPA=HH	=HPN=OEPQ=PA=JKN@AOP@E
0EOO=JK @KLK H=#KNJ¸=@AE =N=J?=JE
 RE?EJK =HH=3=H
@AE#EHÃJE
3=H@AHA(¸OFA
 =ILE=OQ@KRAOP@E0EOO=JK@KLK HA*EH=RÈFA
=KRAOP
@AHH=3=H@AE#EC¿NE
3=H@AHA(KJPN¸@A
0E PNKR= = OQ@ @E 0EOO=JK BN=*KJPE¿H
 3=H @AE #EC¿NE A
$NKLÃÚ
3=H@AHA)A
3=HHALNAOOK*KJPENKJE
=OEJEOPN=@AHH=OPN=@=?DALKNP==
-KH=
PN=N=JGKRÃÚKA3=H@AÍP=OK -ÍP=OK

3=H@AH-ÈNGK
1=JPKPAILKB=?=ILE
KCCEPQPPK>KO?K0EPNKR==AOP@E
0EOO=JKPN=$H=RÃ?=A-KNPEOÈH@AE-ER¿PE
3=H@A-EPÈ=?
 =ILE
 L=O?KHE A >KO?K = JKN@AOP @E 0EOO=JK
 OQ>EPK
@KLKH=3=H@AE+ALKH¿NERANOK)=-KJP= PAB=J

3=H@A-KNPKH¸JG=
0E PNKR= = JKN@AOP @E 0EOO=JK RE?EJK =HH= 3=H @AE
+AOLKH¿NE
3=H@A³HA
3=HHA
KCCEEI>KO?DEP=PN=)¸GKÙQ>¸JAAE=I=NPÃJE
3)!"3³)"K3)!"³)" 0
 /=@KOOE1 


JAHHA
LNKOOEIEP¸@AHR=OPK>KO?K /=@KOOE1 


3=H@A3=N¿
3=HHA=HH	EJPANJK@AH3=N¿=@AOPN=@AHH=OPN=@=?DALKNP=
=-KH=
3=H¿PA@AHA3=HG=PÃJA
 =ILE?KJBEJ=JPE?KJEHL=AOA?DAOEAOPAJ@KJK=OEJEOPN=
@AHH=OPN=@=?DAR=RANOK*KJPA*=@KJ=
3=HÃOA
3=HHA=AOP@E0EOO=JK
=@AOPN=@AHH= OPN=@=?DALKNP==
*KJPA*=@KJ=
LK?DA?AJPEJ=E=@EIAPNE@KLKEH?=ILK
OLKNPERK
3=HEVV=K3=HHEO=!JAHOECJEBE?=PK@ELE??KH=R=HHAOEPNKR=
CE¸ EJ QJ @K? @AH 
  KPPK>NA" )= 3 EJ ?KJPN=P=
0EOO=JE 

 !A#N=J?AO?DE1-&&


3=HHEVVA *KJPE 00


)= 3=HEV= EJ ?KJPN=P= 0EOO=JE  
  /KO=I=JE 3$



3=HG=JÃC=
*=LL=?=P=OP=HA„3=H?=JEC=
 =IL=CJ==JKN@@AHL=AOA
=OEJEOPN=@AH)ÃIE@K)ÈJCK

PN=E*KJPÃÚE
HA-=F=NÃJGAA3=HG=NÈJ
3=H?=JEC=  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ @E 0EO
O=JK *=LL=?=P=OP=HA


3)(+©$ 0
 /=@KOOE1 


 /=@KOOE1 


 /=@KOOE1 


3=H?=JEC=  10-
 

 LNAOOK 0EOO=JK
 
 


  0#

3=HG=NÈJ
*=LL=?=P=OP=HA„3=H?=NKJ
 =ILEAL=O?KHE=OEJEOPN=@AHH=3=HG=JÃC=BEJK=3=HPAH¸O
PN=H==N¸F=$N¸J@=AHA-=F=NÃJGA
 =ILERANOK$E=@NAODE
3=H?=NKJ !A#N=J?AO?DE1-


HK?=HEP¸@E0EOO=JK
 *=LL=?=P=OP=HA


3)("/®+ 0
  /=@KOOE1 


?BN3=H?=NKJ
 HK?=H
@E 0EOO=JK  *=LL= ?=P=OP=HA
 
  !A #N=J?AO?DE
1-

"3=H?DANKJ *KJPE 00


3=H?=NKJ 10-


!PANN=@E0EOO=JK
3=HG=PÃJA
*=LL=?=P=OP=HA„3=HC=PEJ=
 =ILEAL=O?KHEPN=H=3=HRAN¸J=AE=HKN¿JOE
3=H(=Í?K
3=HHA
KCCEEI>KO?DEP=
=JKN@@E0EOO=JK=OEJEOPN=@AHH=
(=HF=JG=@KLK3=H@AHAEO=CA
3=HG=RAN¿N
 =ILE=JKN@@E0EOO=JKOQ>EPK@KLKHA1¿NA@A/ÍI=J
RANOKHA-FKR=JÃFA
3=H?=RNAN  !A #N=J?AO?DE 1-
 

 LNAOOK 0EOO=JK
 


3)(3"/¥/
 0
 /=@KOOE1 


3=H?=RNAN
LNAOOK
0EOO=JK 


 /=@KOOE1 


$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

3=HI=NGÈ
3=HHAPN=H=OPN=@=?DALKNP==@HPQN=AEH0ANAFKH
3=HKR¸JC=
*=LL=?=P=OP=HA„3KH=R=JC=
 =ILE A L=O?KHE = OQ@KRAOP @E 0EOO=JK BN= EH 1ÈNÚK

N=JGKRÃÚK
*KJPENÈJA¿RA
3),3ž+$ 0
 /=@KOOE1 


CN=J@AR=HHA
3=HLNKR¸JOA
 =ILK
 R=HHA A L=O?KHK = AOP @E 0EOO=JK RANOK*KJPA
*=@KJ=PN=H=3=HRAN¸J=AHA3=HG=PÃJA
3)-/,/ž+0"  0
  /=@KOOE 1 
 

 ?=ILE =N=PERE A
L=O?KHE" PNKRK =J?DA H= R=NE=JPA LEÍ RANJ=?KH= 3=HLNK
R=JOA
3=HPAH¸
*=LL=?=P=OP=HA„3=HPAH=O
 =ILERANOK$E=@NAO?DE@KLKH=3=H@ACNALA
3=HPAH=O  !A #N=J?AODE 1-
 

 ?KJPN=@= @AHH=
BN=VEKJA@E0EOO=JK *=LL=?=P=OP=HA!3=H@AH=N?=

3=HPAH=O  !A #N=J?AO?DE 1- &&
 

 ?KJPN=@= @AHH=
BN=VEKJA@E0EOO=JK *=LL=?=P=OP=HA!3=H@AH=N?=

3)1")ž0" 0

 &RAIO  /=@KOOE1 

" EJ@ENAVEKJA
@E'=@NAOGE
3=HRAN¸J=
*=LL=?=P=OP=HA„3=HRAN=J=
 =ILE = AOP @AH L=AOA PN= H= OPN=@= ?DA LKNP= =*KJPA
*=@KJ=
 EH )ÃIE@K @AHA 3=H -NKR¸JOA A )ÃIE@K @AHA
3=HG=PÃJA
3=H3A@E=J= !A#N=J?AO?DE1-


LNAOOK0EOO=JK
 

3A@N=J=  !A#N=J?AO?DE1-

!3=H3 EJ?KJPN=P=
0EOO=JE 

3)3"/ž+  0
  /=@KOOE1 


 R=OP=R=HHA"?BN!A
#N=J?AO?DE1-
"/KO=I=JE3$

3=H >QF¸JA
 0EOO=JK
 ?BN &RA IO  /=@KOOE 1 
 
"
3=E=J= 3=HHE=JQI
!?KJPNLNAOOK0EOO=JK 

3=HREÃJ
2J PAILK ?=ILK A R=HHA RE?EJK =HHA )ANA ,CCE ¿
?KILHAP=IAJPAA@EBE?=PK
3=N¿
*=LL=?=P=OP=HA„3=N¿
 =ILEAL=O?KHE=KRAOP@E0EOO=JK=@AOPN=@AHH=OPN=@=
?DALKNP==-KH=
PN=E=CEKA3=HPAH¸
3=N¿  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ @E 0EOO=JK
 *=LL=?=P=OP=HA


3/¥  "H
  0
  /=@KOOE 1 
 

 ?=ILEA@ =>EP=PK" &RA
IO" 3=N¿  *=LL= ?=P=OP=HA
 
  !A #N=J?AO?DE
1-
"/KO=I=JE3$


3=ÍPE
 =ILERANOKH=3=HRAN¸J=@EBNKJPA=HH=3=H@AN¸@E?=
3=H7QOPK !A#N=J?AO?DE1-


EJ?KJPN=P=0EOO=JE
 

3¿H=
 =ILK=BKNI=@ERAH=LNAOOKEH?EIEPANK
3EHEC¸F 3AHEC=F"3EHHEC=E"3&)&$))&

*=LL=?=P=OP=HA„3EHEC=E
 =ILERANOK)EOECJ=JK@AHMQ=HA?KIQJAB=JJKL=NPA0E
PNKR=JK = OQ@ @AH L=AOA
 = @AOPN= @AH )ÃIE@K ?DA @=H
(=¸H@AH¸JPKLKNP==H(¸NK@AHA3ÃöA
3EHEC=CHA  3EHE?=CHEA
  !A #N=J?AO?DE 1-
 

 ?KJ
PN=P=@A0EOO=JK 

3EHHEC=E *KJPE 00


3Ãö=HE
 =ILE A RECJA = -=HAN= LNAOOK )EOECJ=JK RE?EJK =HH=
?DEOAPP=@A@E?=P==HH=*=@KJJ=
,RECJ=JK  ,REJE=JQI K ,REHHE=JQI
  !A #N=J?AO?DE
1-
 
" ?KJPN=@= @A 3ECJ=J EJ @EOPNE?PQ 0EOO=JE
 

3ECJ=J  !A#N=J?AO?DE1-

! EJ@EOPNE?PQ0EOO=JE

Q>E@E?EPQN?KJPN=@=@A3 

3QECJ=JK  !A #N=J?AO?DE 1-
 
! ?KJPN=@= @A 3
JAHPANNEPKNEK@E0EOO=JK 

3NÚAR¸J
 =ILE A >KO?K OQH IKJPA KIKJEIK
 =LL=NPAJAJPE =H
 KIQJA?=P=OP=HA@E*A@KHEJK
3NGE 3NDE

 =ILERANOK*A@KHEJK@KLKE-¿OE$N¸J@E1=JPKPAILK
B=AN=JKLNKLNEAP¸@ACHE=>EP=JPE@E0EOO=JK,CCE B=JJK
L=NPA@AH?KIQJA@E*A@KHEJK
7=J¿PNA 7AJ¿PNA

 =ILE = OEJEOPN= @AHH= OPN=@= ?DA LKNP= = -KH= @KLK
*KJPENÈJ
?=N=PPANEOPE?ELANHACEJAOPNA?DAERE?NAO?KJK
7=IÀOPNA  $EJAOPNA
  $N=REOE
 

 „ >KO?K@E CE
JAOPN=LNAOOK0EOO=JKALNAOOK!ECJ=JK
.QAOP= LE=JP= ?NAO?A LAN HK LEÍ JAE HQKCDE NQLAOPNE
I=NEPPEIEAREAJ@APP=EJ&OPNE=V=JÀOPN=
V=J¿OPN=
VEJ¿OPN=
AVQJ¿OPN=
(/(1&2',0,&5272321,0,75$77,'$9$5,(
)217,6&5,77(
=OO¸J
3EJA==OO=JLNAOOK0EOO=JK *=PEF=
EÚ+


3EJA= =OO=J EJ ?KJPN=P= 0EOO=JE  
  !A #N=J?AO?DE
1-


=OO=J /KO=I=JE3$


PKLKJEIK=JPE?K=CNKLKHAOA
3EJA==OO=JEJ?KJPN=P=0EOO=JE 
 !A#N=J?AO?DE

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

NQJAHE
 *KJPE 00


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
 =H@ANEJ=
HK?=HEP¸LNAOOK0EOO=JK 

 !A#N=J?AO?DE1-


 =H@ANEJ=  -H
  /KO=I=JE 3$
 

 PKLKJEIK LNAOOK
0EOO=JK 

H?QJE EJBKNI=PKNE D=JJK OAJPEPK MQAOPK JKIA @= LE?
?KHE
 LANÈ KCCE JKJ O=JJK @KRA OE PNKRE EH OQ@@APPK PK
LKJEIK
 =NOE?A
 HK?=HEP¸ LNAOOK 0EOO=JK  
 =NOE?A
 A E
OACQAJPEJKIE =NOEKH=A =NOEOAH=
OKJK@ANER=VEKJE@=
 =NOK RA@E

 !A#N=J?AO?DE1-


 ¸NOE?A  -H
  /KO=I=JE 3$
 

 PKLKJEIK LNAOOK
0EOO=JK 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
 =O=CK
LNAOOK0EOO=JK 

 !A#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
 =OP=CJÀO
 HK?=H @AHH= BN=VEKJA @E 0EOO=JK  

 EH
JKIAOECJEBE?DANA>>AQJKNEQJ@K@E =OP=CJK
 !A#N=J?AO?DE1-


,CCE JAOOQJK @AE JKOPNE EJBKNI=PKNE ?KJKO?A MQAOPK
JKIA
LANÈMQAOPK PKLKJEIKREAJA NELKNP=PK EJMQAH@E
=CJKHA
 =RNAN=
HK?=H@E0EOO=JK 

 !A#N=J?AO?DE1-


 =RNAN=  /KO=I=JE 3$
 

 PKLKJEIK HK?=HEP¸ @E 0EO
O=JK 

,CCE JAOOQJK NE?KN@= MQAOPK JKIA
 LANÈ LAJO=JK ?DA
LKPNA>>APN=PP=NOE@E3=H =RAN¿N
 KNKJ=P=
HK?=HLNAOOK0EOO=JK 

 !A#N=J?AO?DE1-


 KNKJ=P= /KO=I=JE3$


PKLKJEIKLNAOOK0EOO=JK
 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
 QHP=E= K  QHP=EA
 HK?=HEP¸ LNAOOK 0EOO=JK  
  !A
#N=J?AO?DE1-


 QHP=E=K QHP=EA /KO=I=JE3$


 PKLKJEIK=JPE?K
=CNKLKHAOALNAOOK0EOO=JK 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
!N¸C=@E=EK
!N=C=@EEK 10-

„!0EOO=JK
&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
#EKN¿HHA
#EKNAHHA „ HA #  10-
 

 ! 0EOO=J

L=NPE?AHHARAJ@QPA=CHEHPQN=JE N?DEREK?=LEPKHEJK

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
#N=PQVV=
PANN=@AHH=REHH=@E0EOO=JK 
LL=NPAJAR=
=H?KJRAJPK@E0#N=J?AO?K !A#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$=HAKPP=
$=HAKPP= 10-

„!#KE>=$
LNAOOK0EOO=JK
  =NHK@A#N=J?AO?DE

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$=PKJ
 PANN= @A REHH= 0EOO=JE  
  !A #N=J?AO?DE

1-
L

$=PKJ  /KO=I=JE 3$
 

 PKLKJEIK =JPE?K =CNK
LKHAOA
PANN=@A3EHH=0EOO=JE 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$KNPE¸J
$,/1&+ 10-

„!PANN=@E0EOO=JK
&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$QOÃVEV=
& JKOPNE EJBKNI=PKNE JKJ D=JJK I=E OAJPEPK MQAOPK PAN
IEJA -AJO=JK ?DA LKPNA>>A PN=PP=NOE PN=PPE @E 0QOPEJ¸N
JEV= 0KOP=J¿H=

?DALANÈKCCE¿PQPPK>KO?K
)=-K>AO
)= -K>AO  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ LNAOOK
0EOO=JK
&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
*KJ@QHRA@E3=H@ACN¿LA
*KJ@QH  !A#N=J?AO?DE1-


LNAOOK0EOO=JK )=
$NAL=@A* 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
,N?AHH=
,N?AHH=  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ JAH PANNE
PKNEK@E0EOO=JK!1ANN=,N?AHHA 
J?DA/KO=I=JE
3$

,/ "))" 10-

„!PANNA,
RE?EJK0EOO=JK

LNKLNEAP¸@AHRAO?KRK $JENO.QAHHAJ&


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
/=OPAJ@KHHE
!A #N=J?AO?DE  1-

 HK ?EP= = L=C " /=OPAJ@KHHE

HK?=HLNAOOK0EOO=JK 

&HJKIA¿O?KJKOS?EQPK=EJKOPNEEJBKNI=PKNE
/KR¿N
/KR¿N  !A #N=J?AO?DE 1-
 

 HK?=HEP¸ JAHH=
?KJPN=@= @E $=HHAO=JK  
! ?DEK @A /KRAN LNKLA
0=J?PQI #N=J?EO?QI @A 0EOO=JK  
 )K ?EP= LQNA
/KO=I=JE 3$


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

0H#EC!-NKOAOOA BKPK!QN
EÚ$QE@E?E

/QCJ=REVV= 0EOO=JK
!-AHKOAHH=
 !A#N=J?AO?DE1-&&


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
/QOE
/QOE !A#N=J?AO?DE1-


HK?=HEP¸LNAOOK0EOO=JK
 

/QOE  /KO=I=JE 3$
 

 PKLKJEIK LNAOOK 0EOO=JK
 
/A?PA/QOE=JK !A#N=J?AO?DE

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
0=J7=J@AHHA3ECJA
0=J 7=J @AHHA 3ECJA
 LNAOOK 0EOO=JK  
  !A
#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
1AN= NKOEAN=
 *KJPE 00


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
2PPÃ=
 *KJPE 00


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3=E=J= 3=HHE=JQI
!?KJPN=@=LNAOOK0EOO=JK 

3=E=J= !A#N=J?AO?DE1-


3&+ 10-

LNAOOK0EOO=JK
3=E=J=  /KO=I=JE3$

PKLKJEIK=JPE?K=CNKLK
HAOA  3=HHE¸JQI
3HHEQO
LNAOOK0EOO=JK 
  !A#N=J
?AO?DE

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3=H?=JKN
3=H?=JKN 10-



PANN=@E0EOO=JK
&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3=H @A CEOH=  = 0EOO=JK
 
" 3=H @A CKNCK  HK?=HEP¸
JAHH= ?KJPN=@= @E 0EOO=JK
 
"3=H @AHH	N?=  LNAOOK
0EOO=JK


@AH)=CK /KO=I=JE3$


 !A#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3=H*=CJ=@KN
3=H *=CJ=@KN  !A #N=J?AO?DE 1-
 

 = 0EOO=JK
 

3=HI=CJ=@KN 0EOO
 
 /KO=I=JE3$


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3=HI=EKN=
3=HI=EKN=@A3EHH=0EOO=JE 
 !A#N=J?AO?DE1-



3=HI=EKN=@A3EHH=0EOO=JE 
 /KO=I=JE3$



PANNA@A3=HI=EKN= 

&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

3=HOA??K
3=HOA??K !A#N=J?AO?DE1-


LNAOOK0EOO=JKA
3=HOA?K 0EOO3=HOLEJKO=
 /KO=I=JE3$


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3EOECJ=JK  3E?EJE=JQI
!?KJPN=@=?DE=I=P=3EOE=JJAHHA
LANPEJAJPEA @E 0EOO=JK  
" 3EOECJ=JK  *=LL= ?=P=
OP=HA

" !A#N=J?AO?DE1-


0QHHA JKOPNA *=LLA ?=P=OP=HE „ 3EOECJ=J= „ ?=ILE A
>KO?K = JKN@ AOP @E 0EOO=JK
 =HH= BEJA @AHH=(=H >F=JG=

@KLK/Íö=RE?A
=AOP@E-ANE@ÃJ=
3EOECJ=JK  *=PEF=
EÚ +
 

 ?KJPN=P= ?DE=I=P= 3
JAHHA LANPEJAJPEA @E 0EOO=JK   !A #N=J?AO?DE
 !
3E?EJE=JQI

3EOEJ=H IOE=5


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
3QECJ=JK!?KJPN=P=@A3JAHPANN@E0EOO=JK 
 !A
#N=J?AO?DE1-


&HJKIA¿O?KJKO?EQPK=EJKOPNEEJBKNI=PKNE
&+!& "!"&*& /,1,-,+&*&
 NEö¸J"  N=JÃÚ  ÚG=

 N=JGKRÃÚK
 NKJÍ?=

NÍI>E"ÙÙQ>¸JGA"!!N¸C=
!N¸C= @A#EHÃJE
!N¸C=
@A (QO¿" # #=OEJÈP=
 #ÈE>A" $ $H=RÃO=
 $H=RÃÚEJ=

$ÈHA
$NKLÃÚ" ( (=I>NQ¸
 (=J¸F
 (=J¸H
 (=N=J@ÍA

(=NKPÃJA
(=NÃJE (NÃJE

(=¸F
(=¸H@AE=C=ÃJE
(=¸H
@A'QPÃJ=
(=¸H@A*=NEF¿H
(=¸H@A*¿JECK
(=¸H@AE
+=JANÃJE  (=¸H @A -=N=RÃF=

 (=¸H @AH= *ÈG=
 (=¸H
@A-EV@¸Ú=
(=¸H@A/¿>EÚ
(=¸H@A1KI¸K
(=¸H@A
¸JPK
 (=¸H @A ¿LK
 (=ÈJE  )Eö¸JOE

 (ÈHEE
 (KJ
PN¸@A
(ÈNA
(KNPÃJ=  (=¸H@A(¸GK
=N=FAP=
=N=F=@A
(=GK

(KNVKI¸JE
(QG¿N="))A@ÃJA
)¿NA
)KJC¿NE
)Q
¸J"**=CN¸J
*=NEÈHEÚGA
*=NC¸JGE
*=O=G=ÃJ
*A
@KHÃJOE
*EH=RÈFA
*KJPÃÚE
*KJPENÈJ E

*KJPE¿H
*ÈJ
PK@AF¸JG=
*ÈJPK  A
(=PÍOK
*ÈJPK@ALÃJE
*K
G¸PE" - -=H¿@E
 -=KHÃJE
 -=N=@Ã K

 -¸PANJE
 -ANE@ÃJ=

-¿OE$N¸J@E
-ANEIÃÚG=
-EÚÃJA  -AÚÃJA

-ÃJE
-FKR=JÃFA

-È?K -KHE¸J
 -KOPKH=NÃÚG=  -KOPKH=NÃ?=

 -K¿A
 -N=

-N=@E¿F"/ /=P¿H"0 0AHÃJA
 0ANAFÈH
 0E>NÃÚ="  =HK
N¿JOE
=I=NPÃJE
F¸K
=N¸F=
=N¸F=@AEÈE
=N¸F=
@AE (¸NEÚE
 =N¸F= @AE *=NEJÈJE  @AE EJÚÃÚE

 =N¸F=
$N¸J@=
 =N¸F= @A *=NPÃJGK
 =N¸F= @A 0EJÚEÚ
 =N¸F=
1ÈJ@=
=JF¸K
¿RA
F¸J=@AE#EHÃJE
P¸JOEA
P¸JOEA
@AÙAN¿H  ÙAN¿HK

P¸JOEA@AH(KIÍJ
P¸JOEA@AE!È@E

P¸JOEA@AE #ÈHE  @A#ÈHK

P¸JOEA@AEL¸@E
P¸JOEA @A
7KR=J¿N
 QNE¸J  G=NJÈOE

  7KR¸JA  0$EKR=JJE
"1
1=N@F¿NA
 1¿N= @AH= )¸I=
 1¿N= @AH -N¿PK
 1¿NA @AE
EJÚÃÚE
1ANN=@AHHECEKR=JJE
1¿NA@A*=ö=LKH¿JP=
1¿NA
@A /ÍI=J
 1N=@EB¸PK
 1N=RKHÃJ  @A 1AN=BÃJ=

 1N¿>KHA

1ÈNÚK"33=H¸HPA
3=H@A¿LE*ÈNK
3=H@AN¸@E?=
3=H
@A QP¸OK  -QP¸OK

 3=H @A  ÈPK
 3=H @A ÙÃLK
 3=H @A
1=L=ÃJ
3=H@AE#ÈHE
3=H@A$N¿LA
3=H@A$ EJ
3=H@A
-ÈH=
3=H@AE#EC¿NE
3=H@AE#EH¿PE 3=H@AQL¸J

3=H@AE
1=HLÈJE
3=H@A(KIÍJ 3=H@AE'=@NAG¸JE

3=H@A*=N
Ú¿P=
3=H@AH=(¿G=
3=H@AH=#EHKI¿J=
3=H@AH=*EÚ¿H=
 3=H@AE*ÈNE

3=H@AHAEO¸CA
3=H@AHA(¸OFA
3=H@AHA
(KJPN¸@A
3=H@AHA)A
3=H@AHA1=EJ¿NA
3=H@AH-ÈNGK

3=H @A -EPÈ=?
 3=H @A -KNPKH¸JG=
 3=H @A2HA
 3=H @A
3=N¿
3=H¿PA@AHA3=HG=PÃJA
3=HÃOA
3=HG=JÃC=
3=HG=NÈJ

3=HG=PÃJ A

 3=H (=Í?K
 3=HG=RAN¿N
 3=HI=NGÈ
 3=HK
R¸JC=
 3=H -NKR¸JOA
 3=HPAH¸ E

 3=HRAN¸J=
 3=HREÃJ

3=N¿
3=ÍPE
3¿H=
3AHECÈF
3Eö¸HE
3NÚAR¸J
3NGE 3NDE
"77=J¿PNA 7AJ¿PNA

&+!& "!"&*& /,1,-,+&*&1/11&!3/&"#,+1&0 /&11"
=OO=J
NQJAHE
 =H@ANEJ=
 =NOE?A
 =O=CK
 =OP=C
JÀO
 =RNAN=
 KNKJ=P=
 QHP=E=K QHP=EA
!N¸C=@E=EK

#EKN¿HHA
#N=JPQVV=
$=HAKPP=
$=PKJ
$KNPE¸J
$QOÃVEV=

)= -K>AO
*KJ@QH
,N?AHH=
 /=OPAJ@KHHE
 /KR¿N
 /QCJ=
REVV=
 /QOE
 0=J 7=J @AHHA 3ECJA
 1AN=  NKOEAN=
 2PPÃ=

3=E=J=
 3=H ?=JKN
 3=H @A CEOH=
 3=H *=CJ=@KN
 3=H
I=EKN=
3=HOA??K
3EOECJ=JK
3QECJ=JK
 ,+ )20&,+"
& IE?NKPKLKJEIE  OE PN=PP= OKHK @E ?=ILE A L=O?KHE

AO=IEJ=PE JAH LNAOAJPA OPQ@EK OKJK OP=PE N=??KHPE =
0EOO=JK@QN=JPACHE=JJEA&JKOPNELNEJ?EL=HE
EJBKNI=PKNEOKJKOP=PE!
0AN=BEJKAJÜEÚ
J=PKJAH
O=NPK

*=NPEJKQOHAPP=
J=PKJAH
IQN=PKNA

+E?KH=!AI=NEJ
J=PKJAH
O=H@=PKNA

QCQOPK!K>N=J
J=PKJAH
EILEAC=PK

$EQOALLA#A@AH
J=PKJAH
B=>>NKJ=R=HA

$EKNCEK#NAVV=
J=PKJAH
IA??=JE?K

1A@E$H=REJ=
J=PKJAH
CQ=N@E=?=??E=

$EKR=JJE*=PEF=

J=PKJAH
?=NLAJPEANA
1QPPE OKJKJ=PE=0EOO=JK
?KJKO?KJK>AJEOOEIKJKJ
OKHKEH@E=HAPPK
I==J?DAEPKLKJEIEH?QJE@EHKNK
OEJ
@=>=I>EJELKNP=R=JKCHE=JEI=HE=HL=O?KHK
AEJMQ=JPK
CEKR=JE
 LAN L=OO=NA EH PAILK CEK?=R=JK LAN PQPPE E
?=ILE
L=O?KHEAHAHAG=H@AE>KO?DE¥=J?KN	KCCERERA
EJHKNKEHNE?KN@K@EMQAE>AEPAILE
&H JKOPNK ?KNLQO OE HEIEP= =@ AHAJ?=NA  IE?NKPK
LKJEIE NECQ=N@=JPE ?=ILE A L=O?KHE JAH PANNEPKNEK @AH
 KIQJA@E0EOO=JK&JKHPNA
=>>E=IKAHAJ?=PKIE?NK
PKLKJEIEPN=PPE@=R=NEABKJPE?DAEJKOPNEEJBKNI=PKNEJKJ
?KJKO?KJKAJKJD=JJKI=EOAJPEPKJKIEJ=NA
&H?=LKHAI=¿?KOPEPQEPK@=HHA@AJKIEJ=VEKJE NEBANEPA
@=HH	EJBKNI=PKNA >>E=IK RKHQPK OLEAC=NA ?KJ LNA?EOE
KJA EH HQKCK@AHH	KCCAPPKCAKCN=BE?K &JKHPNA
 OKJK OP=PA
?EP=PAPQPPAHABKJPE@ACHEOPQ@EKOE?DAD=JJK@=PKEH HKNK
?KJPNE>QPKEJMQAOPK?=ILK0KJKLNA?EO=IAJPA! =IEH
HK @A #N=J?AO?DE
 )= PKLKJKI=OPE?= @AHH	=JPE?K =CNK
LKHAOA" /K>ANP*=PEF=
EÚ
JPEÜGK J=OHFAtA Q PKLKJEIEFE
&OPNA"3=HANE=JK*KJPE
 AJJEOPKNE?E@E0EOO=JK"$EKR=JJE
/=@KOOE
 )= PKLKJKI=OPE?= ?KIL=N=P= @E !ECJ=JK
 #=
O=J=
 $=HHAO=JK
 3=HHA A 0EOO=JK EJ &OPNE=" "JNE?K /KO=
I=JE
3K?=>KH=NEKCEQHE=JK"ANJ=N@K0?DE=RQVVE
1KLK
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

JKI=OPE?= OPKNE?= @AHH	=JPE?K =CNK LKHAOA 1QPPE MQAOPE
NE?AN?=PKNE D=JJK OPEH=PK OKHP=JPK @ACHE AHAJ?DE OLAOOK
EJ?KILHAPEA@=CCEQJPEEJ=LLAJ@E?A=@=HPNEH=RKNE
,HPNA = ?EÈ =>>E=IK ?KJOQHP=PK HA *=LLA ?=P=OP=HE
@AH KIQJA@E0EOO=JK
!KLK =RAN AO=IEJ=PK E PKLKJEIE A@ E@AJPEBE?=PK H=
HKNK LKOEVEKJA EJ HK?K LKOOE=IK B=NA MQ=H?DA ?KJOE
@AN=VEKJA OQH HKNK =OLAPPK OAI=JPE?K.QE OE @ARA LNK
?A@ANA ?KJ IKHP= ?=QPAH=
 LAN?DÀ JKJ ¿ OAILNA LKO
OE>EHA @A?E@ANA ?KJ OE?QNAVV= OA QJ PKLKJEIK PN=CC=
KNECEJA @= QJ JKIA ?KIQJA K @= QJ OKLN=JJKIA

?KCJKIAA??
&HI=CCEKNCNQLLK¿MQAHHK?DAOELQÈ@ABEJENACAK
CN=BE?K" AOOK
 EJ ABBAPPE
 N=CCNQLL= IE?NKPKLKJEIE ?DA
D=JJK MQ=H?DA NAH=VEKJA ?KH PANNAJK
 ?KJ H= OQ= ?KJ
BECQN=VEKJA K A@EBE?E ERE ?KOPNQEPE /EAJPN=JK EJ MQAOPK
CNQLLKEOACQJPEIE?NKPKLKJEIE!!N=C=
!N=C=@A(QOA

#KE>A
$H=REO=
$H=REÚEJ=
$NKLEÚ
 (=J=H
 (=NEJE
 (==F
A??
+QIANKOE OKJK EIE?NKPKLKJEIE?DA@ARKJK H= HKNK
@AJKIEJ=VEKJA=JKIE
?KCJKIEK OKLN=JJKIE!!N=C=
@A #EHEJE
 (==H @AE =C=EJE
 (==H @A 'Q
PEJ=
 (==H @A
*=NEFAH
 *KJPK @A F=JG=
 -=KHEJE
 -=N=@E @AE )AJOE

-=N=@E@AE#EGE
=N=F=@AEKE
=N=F=@AE(=NEÚE
& OACQAJPE IE?NKPKLKJEIE PN=CCKJK E HKNK JKIE @=
JKIE@ELE=JPA!NQHA
(=NKPEJA
(KHEE
(QGAN=
*KG=PE

-EJE
0ANAFKH
*KJPKA)=GK@AELEJE
3=H@AE#ECANE
3=H
@AHA(=OFA
7=JAPNA
&JKHPNA
 MQ=JPK =E ?K@E?E @	EILEACK
 MQAHHK EP=HE=JK
NEOQHP= EH LEÍ @EBBQOK 0ACQKJK MQAHHK ?NK=PK A@ EJ BEJA
MQAHHKEOPNEKPK
!=HH	=J=HEOE @AE JKOPNE PKLKJEIE OE LQÈ ?KJ?HQ@ANA
?DA H= ?=PACKNE= LEÍ JQIANKO= ¿ MQAHH= @AE PKLKJEIE
OAILHE?E BKNI=PE@=QJ	QJE?=L=NKH=

0ACQKJKEPKLKJEIE?KILKOPE ?KILKOPE@=HH	AHAIAJ
PK?H=OOEBE?=PKNAA@=HJKIA
A@=>>E=IKNEHAR=PKQJQOK
LEQPPKOPKOLKN=@E?K@E PKLKJEIEKHKBN=OPE?E"MQER=HCKJK
=@QJ	EJPAN=BN=OA 1N=@EB=PK

)KO?KLK@EMQAOPKH=RKNK
KHPNA=LNAOAJP=NAHA>=OE
LAN QJ	QHPANEKNA NE?AN?= APEIKHKCE?=
 ¿ OP=PK MQAHHK @E
IAPPANAEJO=HRKEPKLKJEIE?DAOP=JJKO?KIL=NAJ@K@E
CEKNJKEJCEKNJK-AN?EÈ
 EHNA?QLANKAH	AH=>KN=VEKJA@E
MQAOPE PKLKJEIE ¿ QJ= JA?AOOEP¸ EILAHHAJPA
 LKE?DÀ H=
HKNKAOEOPAJV=¿KNI=EIAOO=EJBKNOA
1/0 /&7&,+"#,+"1& 
& OACJE OLA?E=HE MQE =@KLAN=PE JAHH= PN=O?NEVEKJA
BKJAPE?=OKJKEOACQAJPE!
?=BBNE?=P=@AJP=HAOKN@=
Ú=BBNE?=P=L=H=P=HAOKN@=
BNE?=PER=L=H=P=HAOKN@=
OBNE?=PER=@AJP=HAOKN@=
CK??HQOER=RAH=NAOKJKN=
é=BBNE?=P=L=H=P=HAOKJKN=
FOAIERK?=HAL=H=P=HA
GK??HQOER=RAH=NAOKN@=
öJ=O=HAL=H=P=HA
BNE?=PER=L=H=P=HAOKJKN=
.Q=JPKNECQ=N@=H	=??AJPKR=NE?KN@=PK?DA¿OACJ=PK
OKH=IAJPAEHOQKLKOPK
&01/&,10(1,-,+&*&'&!	&	+
=N>=N=2/	&Ù$&2!& &
2JERANV=R-QHE
#EHKVKBOG=B=GQHPAP=
%/-QH=
&*=PAPEÚ=/KJFCKR=
AI=EH!>>QNOE?$BBLQDN
-,37"1"(
3PAFN=VLN=REOKLNA@OP=RHFAJEIEGNKPKLKJEIEREOPNEKPOGAIJ=NAÜFQK>ÜEJA	E
=J
V>N=JEOLKIKÜFKLEOJEDRENKREJ
EJBKNI=JPKRRPKNE?= FAAHAH=LNEOLAR=PEGKDN=JEPRE NKI=JOGA@E=HAGPKHKCEFAR &OPNE
 O=F OA NKI=JOGE AHAIAJPR PAD
CKRKNEDK@GKJ?=ORAPKRJARKFJA@K@=JAOEVCQ>HF=7>N=H=FAJAG=FOP=NEDLKEIAJKR=JFV=JFERAEJL=
JEGA
GEFEDR
	E
=JQHAI=HKG@K
ALKVJ=EJ>EOE?ANLKPKJEH=RLKV=>K
ND=EÜJK 
E
=JOGK J=NAÜFA EV @JAR= R @=J EVCEJF= V=N=@E OP=HJAC= CE>=JF= LNA>ER=HOPR=
 GE FA @=JAO RAHEGK
AJKOP=RJAF
A GKP R LNAPAGHKOPE
 V=N=@E RLHER= IJKEÜJED K>ÜEH
 IA
=JED V=GKJKR L= PQ@E V=N=@E RLHER= OHKR=JOGED
FAVEGKRJ=@NQ>AJK
LKHEPEÜJK
GQHPQNJKEJCKOLK@=NOGKERHFAJFA
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

-NALNEÜ=JFA
 @= FA LKIAI>JK KDN=JEPE OLKIEJ J= OPR=NE
 GE >E OA OE?AN V=N=@E DEPNAC= OLNAIEJF=JF= ERHFAJF=
EVCQ>EHA
PANQL=JFA
@=V=PK
AJELNALKVJK
J=OOEHEP=GR=NKR=JFQEJRNA@JKPAJFQGQHPQNJA@A@E
ÜEJA
GKPOKJLNPQ@E
PKLKJEIE
PAIAHFJEAHAIAJP=RPKDPKJACKRKNE?AJAGAC=GN=F=
!K@=JAOJE>EH=J=LEO=J=JK>AJ=
PQ@EF=K
E
=JOGEPKLKJKI=OPEGE+AG=FPKLKJEIKREVPAC=J=NAÜF=FA=RPKNE?=
J=
H=R>AOA@EHED =IEHH=@A#N=J?AO?DEF=
/K>ANP=*=PEF=
EÚ=
3=HANE=J=*KJPEF=
$EKR=JJEF=/=@KOOEF= EJANJ=N@=
0?DE=RQVVEF=
JAG=FRK>OPKFAÜEDK>ÜEJOGEDG=P=OPNOGEDI=L=D3AHEGKK>N=RJ=R=JEDPKLKJEIKR
GEOK>EHEV>N=JEIA@
HAPKI=EJ
L=OKFELKONA@KR=HEEJBKNI=JPE
GE
ALKVJ=FKCKRKNEJOGNERJKOPE
E
=JOGAC=LK@AAHF=
(HFQÜJA>AOA@A!PKLKJEIE
EOPNEKP
ÜEJ=
	E
=J
#,+1&"&)&,$/#&
$&„O?KHE
$& 
!N?DEREK$HKPPKHKCE?K&P=HE=JK
 $&

 3KH & /KI= „ 1KNEJK „ #ENAJVA
 "NI=JJK
)KAO?DAN ANJA??= !!3&„  ANJA??=
 ! 
! !EVEKJ=NEK @AH
@E=HAPPK @E 3=HHA @	&OPNE=  KHH=J= @ACHE PPE @AH  /0 @E
/KRECJK1NEAOPA
)EJP!=HH= 7KJ?= 3!& „!=HH= 7KJ?=
 $   
! 3K?=
>KH=NEK@ECJ=JAOAEP=HE=JK KHH=J=@ACHEPPE@AH /0@E
/KRECJK1NEAOPA
)EJP!A=JKREÚ 1!& „ !A=JKREÚ
 *  
! 1N=??A @AHH	EO
PNEKPK JAHH	=JPE?= PKLKJKI=OPE?= @AHH	&OPNE=  1!&
 3&&
 KJCNAOOK EJP @E O?EAJVAKJKI=OPE?DAPPE A*AIKNEA
@AHH=OAVEKJAPKLKJKI=OPE?=
&#ENAJVA!A #N=J?AO?DE 1- „ !A #N=J?AO?DE
    
! )=
PKLKJKI=OPE?=@AHH	=JPE?K=CNKLKHAOA 1-&
&&
*0&
„
„
„*=JVEJE
 /K??DE !0#"  „ *=JVEJE
 $
 /K??DE
 )
 
!!EVEKJ=NEK OPKNE?K BN=OAKHKCE?K APEIKHKCE?K @AH
@E=HAPPK @E  =LK@EOPNE=  KHH=J= @ACHE PPE @AH  /0 @E
/KRECJK
  1NEAOPA „ /KRECJK
*KOAPPE 1A?JE?DA$N=
BE?DA*=LLA ?=P=OP=HE  
 
 
! *=LLA ?=P=OP=HE
@AH KIQJA@E 0EOO=JK@AH

 -KH= 0E
?KJOANR=JK LNAOOK H	2BBE?EK ?=P=OP=HA @E -KH=
 -E=VV=
#KNK*=PEF=
EÚ+„*=PEF=
EÚ
/  
!JPEÜGKJ=OHFAtAQ
PKLKJEIEFE &OPNA  +
  1KLKJEIE PEL= =J
 =J= Q &OPNE E
!=HI=?EFE
 %EOPNE= DEOPKNE?= -QH=
 -KREFAOJK @NQ
PRK
&OPNA*KJPE 00„*KJPE
3  
! AJJE OPKNE?E @E 0EOO=JK
  00
-=NAJVK
$=AP=JK K=J=-AHHEVVAN 3!/& „ -AHHEVVAN
 
 -AHHEVVAN
 $  
!
3K?=>KH=NEK @AH @E=HAPPK @E /KRECJK @	&OPNE=  KHH=J=
@ACHEPPE@AH /0@E/KRECJK1NEAOPA
)=*KJCKHBEAN=-EJCQAJPEJE ++!1 „ -EJCQAJPEJE
 $  
! +QKRK
@EVEKJ=NEK@AH@E=HAPPK PNEAOPEJK  OPKNE?K„APEIKHKCE?K„
BN=OAKHKCE?K
*K@AJ=
!AHE=J?K
/=@KOOE1 „/=@KOOE
$ 
!)=PKLKJKI=OPE?=?KI
L=N=P=@E!ECJ=JK
#=O=J=
$=HHAO=JK
3=HHAA0EOO=JKEJ
&OPNE= 1 
PPE
55/KRECJK
 AJPNK@ENE?AN?DAOPKNE?DA
/KRECJK/"4„*AUAN)Ð>GA
4 
!/KI=JEO?DAOAPUIKHK
CEO?DAO4KNPAN>Q?D  /"4
%AE@AH>ANC
4EJPAN2JERAN
OEP=PORANH=C/KO=I=JE3$ „/KO=I=JE
 "  
! 3K?=>KH=NEK CEQ
HE=JK 3$
1NEAOPA
)EJP1AG=RÜEÚ 1/!& „ 1AG=RÜEÚ
 -  
! 1KLKJKI=OPE?=
NKI=JV=@E!ECJ=JK@	&OPNE= 1/!&
0PQ@E=/KI=JE?=AP
JCHE?=7=CN=>EAJOE=
7=CNA>
#EHKVKBOGEB=GQHPAP10-„*=PEF=
EÚ
/ „
!1KLKJKI=OPE?=OPK
NE?= @AHH	=JPE?K =CNK LKHAOA  10-
 @E ANJ=N@K 0?DE
=RQVVEPPE
5&31NEAOPA/KRECJK
)EJP
=NPKHE
 $
 3E@KOOE
 $  
! HHA LKNPA KNEAJP=HE
@	&P=HE=! @E=HAPPE A HEJCQA @AHH= 3AJAVE= $EQHE= A OPN=PE
BE?=VEKJEHEJCQEOPE?DAEJ&OPNE=1KNEJK
$DANKJEAJQOOE
   
!0=CCEK @E QJ= OPKNE= @AHH	&OPNE= !=E
LNEIE PAILE OEJK =HH	ALK?= @AHH= @KIEJ=VEKJA NKI=J=
1NEAOPA
&P=HK0RARKANPK
=
* 
!*HAP=ÜG=&OPN=Q53&E53&&OP-QH=

&OP=NOG=J=GH=@=KANEK
 $  
! !EVEKJ=NEK @AH @E=HAPPK RAJAVE=JK
#ENAJVA
$EQJPEK=?
3 
!+=VERE>N@=E@NQCEDQVREOEJ=Q&OPNE
&V
PKLKJEIEFA&OPNA-QH=
'QNEJ=E#N=JEJ=NKVKREÚ /KJÜAREÚ
 !  
! %NR=POGA LNEH=CK@>A
/EIOGED PKLKJEI= &&%NR=POGE OH=REOPEÜGEGKJCNAO
7>KN
JEGN=@KR=&&7=CNA>
%NR=POGKBEHKHK
GK@NQ
PRKNKVKREÚ /KJÜAREÚ
 !  
! /KI=JOGKDNR=POGE @K
@ENE Q PKLKJEIEFE &OPNA E (R=NJANOGED KPKG= #KHE= KJK
I=OPE?=?NK=PE?=7=CNA>
%NR=POG==G=@AIEF=VJ=JKOPE
EQIFAPJKOPEQN
EÚ*=PEF=
EÚ
( 
!$N=@EJA&OPNA-KREFAOP &OPNA
-QH=
7+'QNE =IL=JEJE
$
 =N>KJE
$ 
!3K?=>KH=NEKH=PEJK
EP=HE=JKAEP=HE=JKH=PEJK1KNEJK
-=N=RE=
$11$/(6©6HUKLVWVRFLRO©©©
=N>=N=2/	&Ù$&2!& &!1,-,+&*&&01/&,1&!0&00+,
„

 KNPAH=VVK
*
7KHHE
- 
!!EVEKJ=NEKAPEIKHKCE?K
@AHH=HEJCQ=EP=HE=J=KHKCJ=
7=JE?DAHHE!KNE=
* 
!HH=NE?AN?=@E PKLKJEIELNAH=PEJEJAH
 =NOK1NEAOPA
&P=HK0RARK#EHELE
 $  
! )A L=NH=PA EOPNE=JA )= >=PP=J=
 
#EQIA
"@EP$EHEÚ
 0  
! (N=FOG= PKLKJEIEF= /EFAÜGE BEHKHK
GE
@=JE!7>KNJEGN=@KR=/EFAG=
#EHKVKBOGEB=GQHPAP$N=REOE
 $   
! +KIE HK?=HE EOPNE=JE @ANER=PE @=
JKIE@ELE=JPA-=CEJA&OPNE=JA -&

 =LK@EOPNE=$N=REOE
$ 
!1ANIEJECAKCN=BE?E@E=HAPP=HEQO=PE
EJ&OPNE=-=CEJA&OPNE=JA -&

&&
B
 =LK@EOPNE=$N=REOE
 $   
! 1KLKJKI=OPE?= @AH  KIQJA @E
 EPP=JKR=@	&OPNE=*0&
-KNAÜ&RA
   
! & @E=HAPPE H=@EJKRAJAPE @AHH	&OPNE= 0PN=O
>QNCK
1NÐ>JAN
)E>N=FKA@EPKNA&RAP=?
 '  
! &OP=NOGE PKLKJEIE -QH=
 &OP=NOG= J=
GH=@=
'QNGEÚ$DEN=N@E
3  
!+=FOP=NEF= LNK
HKOP )EJF=J=
-NEHKVEKV=REÜ=FQ
-QH=(KNPEJC
 $  
! )=PAEJEO?D „ /KI=JEO?DAO 4ÌNPAN
>Q?D-=@AN>KNJ
#AN@EJ=J@0?DÌJEJC-AHHACNEJE
 $   
! 1KLKJKI=OPE?= EP=HE=J= *E
H=JK
%KALHE0GKG
- 
!1KLKJKI=OPEÜGELNK>HAIE&OPNEFKPOGEÜ=
OKLEO0NLOGA=G=@AIEFAJ=QG=AKCN=@0GKG
- 
!1KLKJKI=OPEÜGELNK>HAIE
3&&&OPNEFKPOGE
Ü=OKLEO0NLOGA=G=@AIEFAJ=QG=AKCN=@
	EIQJKREÚ -  
! &V PKLKJEIEFA EOP=NOGKC N=VRK@=
&OPN=„7=CNA>
	EIQJKREÚ- 
!1ELKHK
GKOPNQGPQN=HJEKCHA@EOP=N
OGAKFGKJEIEFA/=OLN=RAV=RK@=V=FAVEG&##
&3„37=
CNA>
7=RK@V=FAVEG&##
	EIQJKREÚ
 -  
! &OPKÜJKF=@N=JOG= PKLKJEIEF=
0LHEP
)KCKO