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{DEFGDEKSFWG XEFG SFRYZFZFKGREKXWGXEFG hfPG fKFKG FSOKKFKGQKXG 6FIJIG KfYZGXfPI XPOQmFKGMEPaFKWGREKXGO`RYZFQHEYZFPWGOHRGEYZGFRGUEPGEKGXFKGhFPPnYaIFRIFKGfPTQUFK 6FGOQRSFUOHIGZO`F|WGRI_ZKIFGXEFGlKIFHHESFKJGXFPG[IFPKFKEKRFHGeOPRVG{sKXGXORWGMOR EUGlKKFPKGhfKGwQKaGREYZGKTZFPIWGERIGMEXFPMTPIESFPGQKXGSFUFEKFPWGOHRGUFEKGffXGFR

RFEKGa_KKIFV|

{DPnYaFG XEYZG XFQIHEYZFPG OQR|WG hFPHOKSIFG 7PFJJOPVG {lYZG `FREIJFG KEYZIG XEF cTZESaFEIFKGMEFGXQVGÔRGUEYZGO`RI_mIWGERIWGXOmGXfPIGXPOQmFKGeOPRbebeOPRGERIGQKX KEYZIGcOPiKIbebcOPiKIV|

{kEKFG h_HHESG QK`FXFQIFKXFG cF`FKRTYZHEYZaFEIWG XEFG MfZHG KQPG OQNG FEKFUG LQNOHH `FPQZIV|GfiOPGRIEFmG IPfIJGXFRGkPKRIFRGXFPG]OSFGFEKG]OYZFKGOQRVGkRGaHOKSGO`FP MFKESFPGRfWGOHRGf`GFPGREYZGOUnREFPFGQKXGUFZPGMEFGIEFNFGhFPJMFENHQKSVG{fOIROYZF ERIWG XOmG QKRFPFG `FEXFKG [IFPKFKEKRFHKG SFMOHIROUG EKFEKOKXFPSFNnSIG MQPXFKV dHFEYZJFEIESG MQPXFKG MEPG EKG XEFRFG hFPÒKKQKSG SFRIFYaIVG iHOPG ERIG JQUG fFEHG OQYZW MOPQUG XEFRFRG SFMOHIESFG sKIFPKFZUFKG SFRIOPIFIG MQPXFVG DORG iPFQJG OQRG cOPiKI QKXG eOPRG XEFKIG XOJQWG FEKFG FHFUFKIOPFG hfPOQRRFIJQKSG JQG RYZONNFKWG KTUHEYZ `FPSTKSFG EKGFEKFKGOKXFPFKG9OQUGJQGFPJFQSFKVGsKRFPFGSFERIESFGifUgfKFKIF RgEFHIFGXO`FEGFEKFGFKIRYZFEXFKXFG9fHHFWGXFKKGafRUERYZFGiPTNIFGMEPaFKGUEIWGXEF OQYZGEYZGKEYZIGhFPRIFZFKGaOKKV|

{ÔPQUGRfHHFKGMEPGXOKKGO`FPG6FIJIGSFI_IFIGMFPXFKx|GRIOQKIFG7PFJJOPV

{DORG^FRFKWGXORG6FIJIGeOPRbebeOPRG`FZFPPRYZIWG`FK_IESIGXEFG`FPSTKSFWGXEFGUOK cO`FHG KFKKIWG EKG inPJFG KEYZIG UFZPVG kRG MEPXG jKIEbk[G SFKOKKIWG QKXG FRG ERIG XFP KFSOIEhFGSFERIESFGjQRNHQmGFEKFRGhfHaFRWGXORGUOKGfFPPOKFPGKFKKIV|

{lYZGaFKKFGaFEKFGfFPPOKFPV|

{lYZGOQYZGKEYZIVGDEFGfFPPOKFPGRIOUUFKGMFXFPGOQRGeOPRGKfYZGOQRGcOPiKIVGj`FP OQYZGXORG ERIGKEYZIGMEPaHEYZGhfKGeFXFQIQKSVGDEFGkPaFKKIKERWGXOmGQKRFPGMEPaHEYZFP dFSKFPGFEKGn`FPRIOPaFRG^FRFKGERIWGXORGOQRGXFUG9OQUGZFPOQRGOSEFPIWGEKGXFKGXEF cO`FHGNnZPFKWGERIGhfKGeFXFQIQKSVGjKIEbk[GZOIGXORG[YZENNGUEIGRFEKFPGjQRSF`QPIWGXFP 7FKFIPOKJWGQKXGXFPGhFPKEYZIQKSRMONNFGSFRYZEYaIWGQUGQKRGJQG`FRFEIESFKVGDORGERI XORGdPOQFKWGXORGMEPGhFPRgnPIGZO`FKV|G{lYZGZ_PFGXFEKFG^fPIFWGUFEKGcPFQKXGfiOPW O`FPGEYZGhFPRIFZFGREFGEKZOHIHEYZGKEYZIVGÔPQUGMEHHGXEFRFRGjKIEbk[GQKRGI_IFKWGMFKK FRG REYZG XOXQPYZG JMOKSRHTQNESG RFEKFPG cO`FHG `FPOQÌx|G {DORG RYZFEKIG FEK ÊXFPRgPQYZGJQGRFEK|WGFKISFSKFIFGfiOPVG{kRGERIGO`FPGaFEKFPVG5EIGXFPGLFPRI_PQKS XFRG HFIJIFKGcO`FHRG ERIGXFPGLFEIgQKaIGSFafUUFKWGOKGXFUGjKIEbk[GhfHHRITKXESG EK eOPRGQKXGcOPiKIGRFEKGMEPXVG[fGREFZIGFRGXEFG7FKFIPOKJWGQKXGEZPFGdFXOKaFKGREKXGXEF EZPFRGgFPPKGEKGXFPGcOUFKHfRFKGLfKFVGjKIEbk[G`FO`REYZIESIWGKEYZIGUFZPGOKGXEFRFK \PIGJQPnYaJQaFZPFKVGkRGMEHHGRFEKFG`_RFG5OYZIGEKGQKRFPFUGsKEhFPRQUGOQR`PFEIFKV sKXGXONnPG`POQYZIGFRGQKRG`FRIEUUIGKEYZIV|

cQKGMOPGFRG7PFJJOPWGXFPGOQNRI_ZKIFV

34

DEFGHIJGKFLFMNFGOEPQGOFENGFERFSGQTUKFRGHNVRWFGTVXGWFSGYZSMFOFQFRFRG[TS\KTQR V]G^VR\_GFNLTG``abcccGdEUZ]FNFSGERRFSQTUKGWFSGe]UTVXFUUEfOFGYZRG^VR\GgbGDTGOEF WTKFEGXTONGhFQR]TUGOZGOPQRFUUGLTSGLEFGWFSG\UFERFSFG[UTRFN_GLiSWFGOEFGERGdiShFGER WFOOFRGjkQFGMFSTNFRb

lERFG dZSYFNNFG ]ENG NFPQREOPQFRG HfFhETUMFSkNFRG LTSG TVOMFOPQUFVONG LZSWFR_G V] MF]FEROT]G ]ENG WF]G mVNNFSOPQEXXG QZPQMFRTVFG dVShfFEUVRMFRG WVSPQXiQSFRG hV \nRRFRbGlOGMERMGWTKFEGFERhEMGVRWGTUUFERGV]GWEFGOFUNOT]FRGIKoF\NF_GWEFGLESG E] gRRFSRGYZRG^VR\GYFS]VNFNFRGVRWGV]GWFRGpVXFRNQTUNOZSNGWFSGpqHljpJ^rdGggbGDT WEFG qZVNERFTSKFENG YEFUG UFENG KFRnNEMNFG VRWG EPQG WEFG HfFhETUEONFRG WVSPQG ]FERF pRLFOFRQFENGREPQNGONnSFRGLZUUNF_GYFSUEFVGEPQGWEFGUFRNSTUFbGpVPQGWSFP\PSZLRGXTYFO QTNNFGOEPQGERGWEFGdUTVOFGKFMFKFR_GVRWGZTSTGDZhGUEFVGOEPQGKFEGWEFOF]GFERXTPQFR qZVNERFXUVMGWVSPQGTRWFSFG[EUZNFRGVRWGHljlZpGYFSNSFNFRbGHEFGLES\NFGOFENG[TMFR OZGFSRONGLEFGREFGhVYZSbG\TQSOPQFERUEPQGOFNhNFRGEQSGWEFGSkNOFUQTXNFRGlSUFKREOOFGhV_ KFEGWFRFRGOEFGV]OGJFKFRGMF\Z]]FRGLTSGVRWGWZPQGLEFWFSGREPQNbGlERFGlS\UkSVRM QTNNFRGLESGREPQNGKF\Z]]FRb

lSLTSNVRMOMF]kVGKUEFKG[YTSEGKFEGmoTEUT]bGDEFGKFEWFRGONFP\NFRGRVRGLEFWFSGVRNFS FERFSGDFP\FbGDTGEPQGWTOGRVSGhVGMVNGYFSONFQFRG\ZRRNF_GF]fXTRWGEPQG]FSONkRWREO ONTNNGlEXFSOVPQNbG[YTSEGLTSGREPQNGYnUUEMGXSFEGXiSG]EPQ_GTVPQGLFRRGOEFG]EPQGUEFKNFbGHEF LTSGERGSkNOFUQTXNFSG\FEOFGFERGUnMUERMG[YTSObGeRWGKFYZSGOEFGWEFGpVXMTKF_GWEFG EQS WZSNG MFONFUUNG LZSWFRG LTS_G REPQNG FSXiUUNG QTNNF_G LiSWFG FOG XiSG VROG KFEWFG \FERF TRWTVFSRWFG ]FSKERWVRMG MFKFRG \nRRFRbG gPQG OVPQNFG FERFG LFREMG KFLZQRNFG UZRF hLEOPQFRG HIJ^ZENY_G ]FERF]G ONkRWEMFRG 8VTSNEFS_G VRWG WF]G qERMLVUONG WFO mENNFUNFEUOG TVX_G WFRRG EPQG LZUUNFG ]ENG ]FERFRG9FWTR\FRG TUUFERG OFERbG DFSGl:NSTOERR SFOfF\NEFSNFG]FERGWFMFQSFRGVRWGOPQLEFMb

HZG SkNOFUNFG EPQG iKFSG WEFG WFWFVNVRMG WFSG oiRMONFRG lSFEMREOOF_G ZQRFG hVG FERF] \ZR\SFNFRGlSMFKREOGhVG\Z]]FRbGlERGVRKFONE]]NFOG9FXiQUGOTMNFG]ES_GWTVGWEFGUFEN OPQRFUUFSGYFSONSEPQGVRWGWTVGOEPQGTRWFSFRZSNOGKFSFENOGDERMFGFSFEMRFNFR_GWEFGWTO QTVPQWiRRFG WUTNNG VROFSFSG l:EONFRhG ]FQSG VRWG ]FQSG hVG VROFSFRG eRMVRONFR LFRWFNFRbG]FSMFKFROGYFSOVPQNFGEPQ_GWEFGLTQSFRGpKOEPQNFRGWFSGdZO]Z\STNFRGhV FS\FRRFRGZWFSG]EPQGTRGWEFGUFENGhVGFSERRFSR_GWEFGEPQGKFEGEQRFRGYFSKSTPQNGQTNNFbGDT LTSGREPQNOGERG]FERF]GdZfX;GlOGLTSG\FERFGHfFSSF_GFOGLTSGREPQNOb

gPQGWTPQNFGTRG[FSSYGqQZWTRGVRWGWEFGlSWF_GVRWGEPQGXSTMNFG]EPQ_GZKGWEFGDERMF_GWEF EPQGWVSPQONFQFRG]VVNF_GLES\UEPQGUFNhNFRGlRWFOGWFSGmFROPQQFENGWEFRFRGLiSWFRb

pRNE^lHG LTSG FERG FS\UkSNFSG @

?gPQGLiSWFGFOGWESGOTMFR_GLFRRGEPQGFOGLiVNFb@

?pUOZGFERGVRKFONE]]NFOG9FXiQU>@G?]EFUUFEPQNbGXTONGWVGOPQZRGFER]TUGLZPQFRUTRM WFERFGKFONFRG

@GgPQGYFSONTRWGWFRGHERRGWFSGG]ZRGWES>@

?lEMFRNUEPQGREPQNb@GHEFGONEFVGFERG\VShFOGJTPQFRGTVObG?pRWFSFSOFENOGTKFSGWZPQb@ gPQGOPQiNNFUNFGWFRGdZfXb

?DEFGFERQVRWFSNGHNVRWFR@_GOTMNFGOEFGLFENFS_GZQRFG]FERFG]FSLESSVRMGhVGKFTPQNFR_ ?WEFG pRNE^lHG MFMFKFRG LZSWFRG OERW_G LFSWFRG TKUTVXFRbG DTRTPQG LFSWFG EPQG WES OTMFR_GLTOG]EPQGKFWSiP\Nb@

?DVGOfSEPQONGERGqkNOFURb@GlOGLTSGVRMFLnQRUEPQGXiSGZTST_GWTVGOEFGOEPQGV]GDERMF LEFGpRNE^lHG9FWTR\FRG]TPQNFbG gPQG\ZRRNFG]EPQGREPQNGFSERRFSR_GOEFG oFGOZG SFWFR MFQnSNGhVGQTKFRbGjZS]TUFSLFEOFGkVVFSNFGOEFGOEPQGREFGhV]GT\NVFUUFRG9FOPQFQFR VRWG\i]]FSNFGOEPQGRVSGV]GEQSFGpVXMTKFGTUOGZQFXfEUZNERbG?lOGLkSFGOEPQFSGKFOOFS_ LFRRG WVG ]ESG oFNhNG OTMFRG LiSWFON_G LTOG WEPQG KFWSiP\NbG FWFSG XERLFEOG \TRRG VRO QFUXFRb@

?gPQGLFSWFGWESGOTMFR_GLTOG]EPQGREPQNGKFWSiP\N_GpNUTRb@

?gPQGQnSFb@

9FRTVG ERG WEFOF]G mZ]FRNG OfSTPQG ]FERG pS]KTRWERNFS\Z]G TRbG lOG LTSG WEF XTVfNhFRNSTUFbG9TUUTNTRGXFSNOGFSOPQEFRGTVXGWF]G\UFERFRGWEUWOPQES]b

?lOG MEKNG jFVEM\FENFR_G pNUTR_G WEFG WEPQG ERNFSFOOEFSFRG LFSWFRbG eROFSFG ISNVRMFR LTSFRGFSXZUMSFEPQbGg]GgRRFSRGYZRG^VR\GMEKNGFOGYEFSG\iRONUEPQFG9FKEUWFbGHEFGQTKFRGER FNLTGdVMFUXZS]_GVRWG oFWFGKFOENhNGFERFRGDVSPQ]FOOFSGYZRGXTONGhFQRGdEUZ]FNFSRb DEFG pqHljpJ^rdG ggG KFXERWFNG OEPQG TVXG FERF]G dVSOG hVG WEFOFRG HNTNEZRFRbG HEF \Z]]NG RVSG OFQSG UTRMOT]G YZSTR_G WFRRG OEFG ]VVG OEPQG MFMFRG WEFG 9FLTUNFRG WFO HZRRFRfUTO]TOG KFLFMFRbG gRG FNLTG FERFSG HNVRWFG WiSXNFG OEFG TKFSG T]G UEFUG OFERb HljlZpG OfF\VUEFSNG ]ENG FERF]G pRMSEXXG WFSG pqHljpJ^rdG TVXG WEFG dVMFURbG lS ]FERN_G RVSG WZSNG \nRRFRG [YTSG VRWG [SFhhTSG XFONMFQTUNFRG LFSWFRb@G XFSNOG KSTPQ fUnNhUEPQGTKbGDTRRGQEFUNGFSGFERFG

WTXiSG MFUEFXFSN_G WTVG E]G VR\^HYONF]G FERG jTKFUG hVSG jT]FRUZOFRG UZRFG FRNONFQNb DFSGISNGWFOGjTKFUOGUEFMNGhLEOPQFRGWFRGe]UTVXKTQRFRGYZRG^VR\GgGVRWGggbGpVVFSWF] OERWG FRFSMFNEOPQFG HNSFVONSTQUVRMFRG TVXMFNSFNFR_G WEFG YZRG WFRG WSFEG [UTRFNFR \Z]]FRbGHEFGOPQFERFRGTUUFGFNLTOG]ENGWF]GjTKFUGhVGNVRGhVGQTKFRb@

?gPQGKERGMUFEPQGERGWFSGUFRNSTUF@_GTRNLZSNFNFGEPQGSTOPQbG?DTRRGOFQFGEPQG]ESGWTOGTRb HFEWGLTPQOT]_GWFRRGLESGLEOOFRGREPQN_GLTOGWVSPQGWFRGjTKFUG\Z]]FRGLESWb@

DVGLFEVNGFO_GFS\UkSNFGWFSGJZME\OF\NZSbG\TSV]GMEKONGWVGFOGREPQNGhV>

pRNE^lH;GTRNLZSNFNFGEPQGUTVNUZOb

DTRRGLTRWNFGEPQG]EPQGLEFWFSGZTSTGhV_GWEFGVRKFLFMUEPQGLEFGFERFGHNTNVFGRFKFR ]ESGONTRWbG?DVGLZUUNFONG]ESGFNLTOGOTMFR_GZTST>GJFEWFSGLVSWFRGLESGVRNFSKSZPQFR_ VRWGTVVFSWF]G]VVGEPQGMUFEPQGERGWEFGUFRNSTUFb@

?DVG QTONG \FERFRG 9SVRWG hVSG lEUF@_G KFQTVfNFNFG OEFbG ?jZPQG EONG FOG REPQNG OZLFENb@ ?\TOGEONGREPQNGOZLFEN>@GgPQGhZMGWEFGHNESRG\STVO_GWFRRGWEFGl]ZNEZRTVNERGLVSWFG]ES E]]FSGVRQFE]UEPQFSbG\VVNFGOEFG]FQS_GTUOGOEFGhVMTK>

jTNiSUEPQ_G FS\UkSNFG ]ESG WFSG l:NSTOERRbG ?gPQG LZUUNFG WESG OTMFR_G LTOG ]EPQG REPQN KFWSiP\N_GpNUTRbGlOGOZUUNFGWEPQGTVPQGREPQNGKFWSiP\FR_GQnSONGWV>GlOGOZUUGWEPQGREPQN QERWFSR_G WTOG hVG NVR_G LTOG WVG XiSG TRMFKSTPQNG QkUNONG ZWFSG LTOG WESG WEFG LFENFSF lRNLEP\UVRMGTVXhLERMNbGXTONGWVGWTOGYFSONTRWFR>@

gQSFGUFEOFGHNE]]FGQTNNFGFERFRGWVSPQWSERMFRWFRGeRNFSNZRGKF\Z]]FR_GWFRGEPQGTR EQSGRZPQGREFGKF]FS\NGQTNNFb

?gPQGQTKFGWEPQGOFQSGMVNGYFSONTRWFR_GZTST;Ge]GLTOGMFQNGFOGTUOZ>@

?gPQGLFSWFGERGhLFEGmERVNFRGONFSKFR_GpNUTRbGeRWGWEFO]TUGEONGFOGFRWMiUNEMbGDVGLESON ]FERFRG[ZWGREPQNGTUOGJTONGF]fXERWFRbGDTOGWTSXONGWVGREPQNbGDVG\TRRONGTKFSGREPQNO WTMFMFRGVRNFSRFQ]FRbGlOGEONGWFSGJTVXGWFSGDERMFb@G?DVGKEONGYFSSiP\N;@GfUTNhNFGEPQ QFSTVObG HEFG MTKG ]ENG \FERFG pRNLZSN_G WFVNFNFG TKFSG TVXG ]FERG pS]KTRWERNFS\Z]b WFYZSG EPQG XSTMFRG\ZRRNF_GLTOGWEFOFG9FONFGhVGKFWFVNFRGQTKF_GFSQFUUNFGOEPQGWFS \UFERFGWEUWOPQES]G]ENGWF]GPQTST\NFSEONEOPQFRGmFUWFNZRb

?XTVfNhFRNSTUFGQEFS@_GOfSVWFUNFGXFSNOGQFSTVObG?pUTS];GDEFGpqHljpJ^rdGQTNGVRO MFNkVOPQNbGHEFGQTNGEQSFGWFEKZZNF_GWEFGpVX\UkSFSGVRWGqTV]okMFSGOPQZRGYZSGHNVRWFR TVOMFOPQUFVONGVRWGT]GpVVFRSTRWGYZRG^VR\GYFSONFP\NbG^FNhNGFSXZUMNGFERG]TOOEFSNFS pRMSEXXbG\ESGKSTVPQFRGZTSTbGHZXZSN;@

?\ESG\Z]]FR@_GTRNLZSNFNFGEPQGOPQRFUUbG?HEFGEONGQEFSGKFEG]ESb@

9FSkVOPQFGYFSRTQ]GVRWGTVPQGWEFGHIJG\FERFG@GLZUUNFG EPQGLEOOFRbGDFSG\UFERFGXFSNOG NTVPQNFG E]GlERMTRM TVXbGHFERFG9FOEPQNOhiMFGLTSFRGRZPQGYFS\REXXFRFSGTUOGOZRONb

?DVGQTONGFERFGMTRhFG[ZSNEZRG9UiP\GMFQTKN_GpNUTR@_GOTMNFGFSbG?eRWGFERFRGMVNFR XFUXFS_GWFSG OPQRFUUG MFOPQTUNFNGQTNbGXkNNFGUVEGmEVR\GOFERFG\TSNVRMOSZKZNFSGREPQN SEPQNEMGWESEMEFSN_GLkSFGFOGWESGOZGFSMTRMFRGLEFGWFSGTS]FRGZTSTb@G?HEFGEONGNZN>@GlO LTSG ]FQSG FERFG @GMSiKFUNF EPQG UTVNbG?DTOGEONGWZPQGOFQSGOFUNOT]bGDEFGHIJGQTNGqFOFSYFOYONF]F_GOZGWTVGOZ FNLTOGFEMFRNUEPQGREPQNGYZS\Z]]FRGWiSXNFb@G?HNE]]Nb@G9TUUTNTRGhVP\NFG]ENGOFERFR

YFSLTPQOFRFRGHPQVUNFSRbG?[SZNhWF]GEONGFOGMFOPQFQFRbGlERFGXkVXVRMGYZRGUVXkUUFR_ ]FERNFGHljlZpb@

?DEFOFGXkVXVRMGQTNGZTSTOGJFKFRGMF\ZONFNb@GgPQGQTNNFGFERFRGKENNFSFRG9FOPQ]TP\ TVXGWFSGUVRMFb

?eRWGKFERTQFGWFERO;@GlSONGoFNhNGKF]FS\NFGEPQG[YTSE_GWEFGQERNFSG]ESGONTRWb

?\TOG]TPQNGWFSGjTKFU>G gONGWTGOPQZRGFNLTOGTVXMFNTVPQN>@G gPQGLFPQOFUNFGMTRh KFLVVNGWTOG[QF]Tb

?lSGEONGFRFSMFNEOPQGONTKEUb@GXFSNOGMTKGLEFWFSGWEFGlS\UkSVRMFRbG?lOGEONGRZPQGREPQNO TVXMFNTVPQNbG\ESGQTUNFRGVROGYZRGEQ]GXFSRGVRWGOERWGERGpUTS]KFSFENOPQTXNb@

?\TOGOZUUNFGWZSNGTVPQGTVXNTVPQFR>@GXSTMNFG[YTSEGVRWGNSTNGTRG]FERFGHFENFb

?lOG MEKNG FEMFRNUEPQG RVSG LFREMFG mnMUEPQ\FENFRb@G gPQG ONSFEXNFG WFRG ]FSKTRWG YZR ]FERF]GdZfX_GWFRRGEPQGOfiSNF_GWTVGOEPQGWEFGFSQnQNFGp\NEYENkNGWFOGUFUUT\NEYTNZSO LEFWFSG QFSTKSFMFUNFbG ?gPQG QkNNFG hV]G WFEOfEFUG REPQNOG WTMFMFR_G LFRRG WEF

?9VN_GWTVGWVGLEFWFSGTVXGWFRGWFERFRGKEON@_GKFMSiVNFG]EPQGWFSGXEMQGHEWFSYNbG?XEFS OPQFERNGOEPQGMUFEPQGFNLTOGhVGFSFEMRFRb@

gPQGKFNSTPQNFNFGWEFGISNVRMOSFXUF:FGWFOGjTKFUOGVRWGWTRRGWEFGWFSGHZRRFG^VR\bGDEF HZUTRFSGQTNNFRGMVNFGpSKFENGMFUFEONFNGVRWG\FMFGhVGFERFSGOTVKFSFRGDTSONFUUVRMGTVO WFRG YFSLESSFRWFRG lRFSMEFE]fVUOFRG MFXVRWFRbG HljlZpG ONFUUNFG hVS eRNFSOPQFEWVRMGWEFGIKoF\NFG]ENGYFSOPQEFWFRFRG

oFWFRGISNGYZRG

oFNhNGWEFGHIJGYFSUTOOFRGLiSWF>GHTQG]TRGT]GlRWFGWZPQGWTSERGFERFGJnOVRMGXiS WEFGYFSXTQSFRFGJTMF>GUVGTUUF]GFKFSXUVVGFSOPQEFRGLEFGTVOGWF]GjEPQNOGERGWEFOF] mZ]FRNG FERFG 9FONTUNG hLEOPQFRG VRO_G WEFG WEFG MFSFEhNFRG jFSYFRG RZPQG ]FQS ONSTfThEFSNFbGgPQGFS\TRRNFGOZXZSNGWFRG\UFERFRG@

?gRNFSFOOTRN@_G KF]FS\NFG FSG LFREMG iKFSSTOPQNbG ?DVG LESONG LZQUG LEOOFR_G LTOG WV NVONb@G?HZRONGQTONGWVGREPQNOGhVGOTMFR>@GKFWSkRMNFGEPQGEQRb

DFSGWFTVXNSTMNFG[FS]FRNEFSOGRFEMNFGOFERFRGdZfXGERG]FERFGqEPQNVRMBG?jZPQGQTKFR WEPQGWEFG\TOOFSGWFSGFLEMFRGUFENFRGREPQNGQERLFMMFOfiUN_GpNUTRb@

?\ESG YFSOPQLERWFR@_G MSZUUNFG moTEUT]G ]ENG OFERF]G ]kPQNEMFRG WTVbG ?JFKNG LZQU_ HZUTRFS;@G lERG HPQTNNFRG MUENNG QFSTRbG gPQG FS\TRRNFG [EP\FS_G WFRG LVRWFSKTSFR pWUFSkQRUEPQFRGYZ]GpSOFRTUfUTRFNFR_GWFSGVROFSGNSFVFSGWFMUFENFSGMFLZSWFRGLTSbGlS QZP\NFGOEPQGWEFO]TUGTVXGmoTEUT]OGHPQVUNFS_G TUOGLiVNFGFS_G WTVGFSG WEFG qFEOFGRVS ]EN]TPQFRG\nRRNF_GLFRRGFSGWEFOFRGKFSiQSNFb

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45

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eQRLVJKWaOcPR[PVLSPNTUVJKLdPRZOPLWPQRPLfU\WPNZVaWZPQOLaU\LPQRPRLKPddPRLdPJZ QWL[PR]LaVLKadhONaRVaNPROPLàOPNQadLgPN\TNhOPLVQJK]LeQRLNOPVLPUJKOPRLPOa VL _NL QPL WPQRPL aR[\dTJKPL UN[PL VQJKOhaN]L eVL ZaWL VJKRPddL RTKPN]L aV PQ_PROdQJKPL àOPNQadL gPN\dYVVQ_OPL VQJKL UR[L VJKdQPdQJKL VJKL PQRPL \aUVO_NP U_PdL [UNJKL [PRL [PR]L IJKL PNZaRROPL [QPL JKaNaZOPNQVOQVJKPRL aNhPRL [PN PRVPQOVWaOPNQPL [aVL KPddPL XOL UR[L [aVL \aKdPL SNYRL [aVL VQJKL URUROPNhNJKPR ahPJKVPdOP]LUL_UOLPNQRRPNOPLQJKLWQJKLaRL[QPLgPNVJKQP[PRPRLP_P_RUR_PRLWQO [PWLVPdOVaWPRLO\\LhP_RRPRLhPQL[PNLa_[LPQRPVLgRLQ[[PRRQNPOV LWQL PQR_PVPOcOPRLdUWPRVLhQVLcUNLPRVPQOVWaOPNQPL[PNLffe]LPNLNJZPRL_dQOO VJKRPddLQRL[QPLMKPLWPQRPVL\PV]LIJKLVJKadOPOPLWPQRPRLIR[QgQ[UadVJKUOcVJKQNW PQRLhKdLQJKLWQNL[PRZPRLZRROPL[aL[QPVPNLRNWadPNPQVPLRQJKOLKad\]LeVLZaW RUNL[aNaU\L aRLWQOLPdJKPWL QPdL [QPVPVL OYJZLaU\L [QPLXPQVPL _PVJKQJZOL N[PR aN]L QPL PRVPQOVWaOPNQPL hdQPhL VOQddL VOPKPR]L NQJKL VQPL aRL \N[PNOPL [PN QZVPZON]L_WWLKPNLVa_OPL QJK]LR[L_PKNJKPLWQNL ahPQLVONPJZOPL QJK PQRPL aR[L aUV]L aOVTJKdQJKL _dQOOL [PNL NJZPRL KQRPQR]L IJKL ZRROPL QKRL [PUOdQJKPN \YKdPR]

PNPR[PL QKRLVJKRPddL IJKLZRROPLRQJKOL_PRaUL\PVOVOPddPRLPNL[aLcULWQNLVNaJK [PNLeONaVQRRL[PNLPRPNLRhPZaRROPL[PRRL[QPLPORaOQRPRLaNPRLRJKLdaUOPN _PN[PR]LQPLPQOLQN[LZRa]

IJKLhP\aKdL[PNLPRVPQOVWaOPNQPL[aVLSP\TR_RQVLgRLàQdaWLaNQLUR[LQJZPNLcU cPNVOMNPR]L QPL cM_PNOPL PQRPRL WPROL VPOcOPL VQJKL [aRRL ahPNL QRL PP_UR_]L P RTKPNLVQPL[PNLU_PdLZaWL[PVOLdaR_VaWPNLUN[PLVQP]LURLVaKLQJKLaUJKL[aLVQJK QKNPLàVVPLVJKRPddL gPNcPKNOP]LeOaVL[NTR_OPLVQPLgRL[PNLU_PdKYddPLah]LaLPV ahcUVPKPRLaNL[aLVQPLQKNLQPdLRQJKOLPNNPQJKPRLYN[PLVJKadOPOPLQJKL[PRLfRONQPh WPQRPVL fRcU_VL PQRL UR[L \d_L KQROPNKPN]L IJKL VPdhVOL VYNOPL RQJKOVL aVL WQJK cUNYJZKQPdO]L L aJZOPL QJKL [PRL NJZPRL [PNL VJKRL aU\L [QPL Td\OPL VPQRPV dUWPRVLcUVaWWPR_PVJKWdcPRLaNLUR[L ONU_L QKRLhQVLaRL[QPLfUPRKYddPL[PV SP\TR_RQVVPVLKPNaR]

PNVJKQR[PLgRLKQPNLUN[PLQJKL_PaNRO]LaLQJKLVaKL[aLVQJKL[PNLNO_NYRPLO\\ aRL [PNL fUPRaR[L \PVOVaU_OPL WaJKOPL QJKL ZPKNO]L JKL hPgNL QJKL QP[PNL [PR [PRL PNNPQJKOPL QNhPdOPL WQJKL PQRPL NUJZPddPL \NO]L IJKL VaKL QPL [QP SP\TR_RQVZU_PdL QRL gQPdPL OaUVPR[L QRcQ_PL NUJKVOYJZPL cPNVNaR_]L aQdaWL UR[ aNQLUNcPdOPRL[aNaUVLKPNgN]LQPLNUJZPddPLVJKdPU[PNOPLVQPLaUVPQRaR[PNLUR[ QJZPNL _NQ\\L RaJKL [PNL NaUL UR[L KQPdOL VQPL \PVOL [aWQOL VQPL RQJKOL _P_PRL PQRPL aR[ NaddPRLZRROP]LàQdaWLKad\LVQJKLVPdhVOL[UNJKLPQRPRLZUNcPRLNUR_L[aRZLVPQRPN RURLQP[PNL\NPQLPRO\adOhaNPRLNT\OP]

âVLaNL[aVLZPUJKOPLaNQLadVLQJZPNLVQPLRPhPRLWQNLahVPOcOP]

PNWUOdQJKLPQRPLaUOWaOQVJKPLaddPLaRONOPOPLQJK]LSPRaULPQLQJKLPVLaUJK RQJKO]LR[LPRRLRQJKOL[PNLdUWPRLPRVPQOVWaOPNQPLaU\_POaUJKOLTNPLKTOOPL QJK PUJKLRQJKOLKPNaUVKdPRLZMRRPR]

RQJKOQ_]L aNQL hdQJZOPL QP[PNL àQdaWL aR]L ^QNL WYVVPRL PQOPN]L aNL UR[ bNPccaNLVOPKPRLZUNcLgNL[PNLPNRQJKOUR_]LIJKLZRROPLaUJKLaUVL[PNLU_PdLPQRLaaN SP[aRZPRLgRLQKRPRLaU\\aR_PR]LQPLVNaJKPRL[ahPQLWQOLPQRPWL^PVPRL[aLVQJK XfL[PNLaNaLRPRRO]La_OL[QNL[aVLPOaVLfOdaR

QPL URhPZaRROPL OQWWPL \d_PNOPL QJKL V\NOL [PRRL baNcPddPL KaOOPL WQNL aL hPahVQJKOQ_OL [PNL RQJKOL L [PRL PROVJKPQ[PR[PRL QRPQVL _P_PhPR]L R[L aNa ZaRRLPQ_PROdQJKLRUNLPQRVLhP[PUOPR]LaVLPQOL[ULaUJK]LfhPNLaNaLcLQVOLOO]LIJK KahPL PVL VPdhVOL _PVPKPR]L PQRPL PQOL \YNL [UWWPVL SPNP[PL aQdaWL VOPddOP PNRPUOL ZMNPNdQJKPRL ROaZOL cUL URVL KPN]L QJZPNL VPOcOPL VQJKL QP[PNL aU\L VPQRP JKUdOPN]LaRRLVNaR_L[QPLWTJKOQ_PLSPVOadOLUR[LQNLPNNPQJKOPRLKRPLPQOgPNcU_ PQRPRLTKRdQJKPRLXaUW]LQPVPLU_PdKYddPLaNL P[JKLRJKL_NMPNLadVL[QPLPNVOP

UR[LQWL`QOOPdURZOL[PNLU_PdLVJKPhOPLPQRPLZdPQRPL[URZPdhdaUPLU_PdL[QPLWQJK aRL[aVLSP\TR_RQVLgRLaNQLUR[LàQdaWLPNQRRPNOP]

NOL [NQRRPRL hP\QR[POL VQJKL [aVL Va_OPL aNQL aVL RURL aNL QVO]L eNL KaOL VQJK gPNTR[PNO]LIJKLVYNPLP[PRLSP[aRZPRLQRLaddPNLPUOdQJKZPQO]LeNLKaOLVQJKLgPNZdPQRPNO UR[L ZWNQWQPNOL UWL [PWLfR_NQ\\L cUL Q[PNVOPKPR]L ahPQL KaOL PNL NaZOQVJKL PQRP WaOPNQPddPLSPVOadOLaR_PRWWPR]L^QNLWYVVPRLQKRLKPNaUVKdPRL[PRRLQRLPRQ_PR `QRUOPRLQN[L[QPLbPRPONaRcL[PRLbaNOQZPdVONWPN\PNLaU\L[QPVPLU_PdcPddPLNQJKOPR UR[LaddPVLgPNRQJKOPR]

aRRVOL[ULKQRPQRVNQR_PRL\Na_OPLQJKLàQdaW]

PNLXQPVPLVJKYOOPdOPLVQJKLURQddQ_]LJKRLgPNVUJKO]LSPKOLRQJKO]LeOaVLNPW[PV UR[LSPKPQWPVLKTdOLWQJKLah]

L QPL [QPL PRVPQOVWaOPNQPL PVL cUgNL RQJKOL VJKa\\OPL [aJKOPL QJK]L QPVP SP\TR_RQVVPLWUOPRLPQRPRLhPVR[PNPRLfhPKNWPJKaRQVWUVLhPVQOcPRL[PNLRQJKO RUNL P_dQJKPWL eRPN_QPhPVJKUL VOaR[KadOPRL ZRROPL VR[PNRL aUJKL addPR KJKPNOQ_PNPRL`POK[PRLQ[PNVOaR[LQPLàQdaWVLOPdPNOPNTKRdQJKPNLTKQ_ZPQO [PNL_aNL[PWLdUWPRLPRVPQOVWaOPNQP]

UL VOQRZRNWadPNL PNdL ZRROPVOL [QJKL [PNL YddPL RTKPNRL Va_OPL [PNL [QZVPZON_ aNaU\LVJKPQROLVQPLRQJKOLN_NaWWQPNOLcULVPQR]LURL\PKdOL[QNLRUNLRJKLPOaVLWQO [ULVQPLM\\RPRLZaRRVO]

âNOPOLNQP\LQJKLàQdaWLUR[LaNQLcULUR[LVJKadOPOPL[PRLfRONQPhLPQR]L`YKPdVL_dQOO QJKL RaJKL hPRL aU\L [QPL U_PdL cU]L aNQL [QPL VQJKL WQNL aRVJKdQPPRL ddOPL NaddOP _P_PRLPQRLURVQJKOhaNPVLQR[PNRQV]LQPLWUOPLUWZPKNPR]La\YNL_PaKNOPLQJKLahPN QJZPNL[PNLWQNLKRPLJKQPNQ_ZPQOPRL\d_PRLZRROP]LeNL\d_LaU\L[PRLdPOcOPRL`POPNR V_aNLgNaUVLUR[LZNaddOPLVQJKLaRL[PNLNaUKPRLfUPR\dTJKPL\PVO]LaVLàOPNQadLQNZOP aU\LWQJKLQPLKJKgPN[QJKOPOPNLPNZRQOVOaKd]L`QOLZPQRPNL[PNLWQO_P\YKNOPRLâ\\PR UR[L PNZcPU_PL ZRROPL QJKL QKWL aUJKL RUNL PQRPRL NaOcPNL cU\Y_PR]L ROPRL VJKNQPR àQdaWL UR[L aNQL aU\_PNP_OL [PRRL [QPL edVQRPRL [PNL VQJKL RTKPNR[PR fXef LUN[PRLQP[PNUWLPQRPLUaRJPLdaUOPN]LaVLNQPVQ_PLJKQ\\LVJKQPR VQJKL \MNWdQJKL [UNJKL [QPL RRPRWaOPNQPL cUL VJKQPPR]L YNL PZUR[PRhNUJKOPQdP [aJKOPL QJKL [aNaRL [aL QN_PR[aRRL [UNJKL [QPVPL PNVOMNUR_PRL [QP OahQdQOTOVWPJKaRQVWPRL[QPVPNLfRda_PLaUV\addPRL YN[PR]L aRRLTNPLaddPL YKP UWVRVOL_PPVPR]

QJZPNLZNTJKcOPLQPL QJKL[UNJKL[PRLfUPRdaUOVNPJKPNLKMNOP]L IJKLVaKLQPLPNLWQO VPQRPWL _Ph_PRPRL JKRahPdL QRL [QPL KaNOPL àOPNQPL KTWWPNOPL UR[L [ahPQL WQO

VPQRPRLNaddPRLVJKaNNOP]

eOaVLVJKQPNLR_daUhdQJKPVL_PVJKaK]LQPLàOPNQPL[QPLàQdaWLah_PVOPRLUR[ aRL [PNL UNJKUPNUR_L VQPdPR[L _PKQR[PNOL KaOOPL UR[L [QPL \YNL WQJKL QP URcPNVOMNhaNPNL PcQadVOaKdL QNZOPL gPNKQPdOL VQJKL _P_PRYhPNL [PWL _PdL QP VNM[PNLaR[LaVLàOPNQadLcPNZNYWPdOPLUR[LVNQOcOPLUROPNL[PRLQPhPRLQJZPNV aUVPQRaR[PN]

QPLPNKTdORQVWTQ_ZPQOL[PNL`QOOPdLQN[L[UNJKL[QPVPLaddPLaU\L[PRL\L_PVOPddO PNZdTNOPL[PNLeONaVQRR]LQPVPLaddPLQVOLRQJKOL\YNLPQRL^PVPRLQPLPQRLQPNLPNVJKa\\PR N[PRL hKdL VQPL [QPL YhPN_NPQ\PR[PL IROPddQ_PRcL gRL aNVL aWL eROZWWPR KQR[PNO]

IJKLgPNVOaR[LRQJKOL_PRaULaVL[PNLQZVPZONL[aWQOLWPQROPLahPNLQJKLPNZaRROP_ [aLVQJKL[QPVPVLSP\TR_RQVL[PRLPPQdQ_PRLSP_PhPRKPQOPRLgRLaUPRL[PNLQRRPR aRaVVPRLZRROP]LeVLgPNTR[PNOPLVQJKLQRLVPQRPNLONUZOUNLVL[aLPQRLQROPddQ_PROPV UR[L WTJKOQ_PVL ^PVPRL K\\RUR_VdVL cUWL JKPQOPNRL gPNUNOPQdOL aN]L UNL POaV bNQWQOQgPVLQPLPQRLQPNL[aVLaUJKLRaJKL[PWLeNWPVVPRLPQRPNLUPNQROPddQ_PRcLKQPN RQPWadVLaU\OaUJKPRL[YN\OPLKaOOPL[aLPQRPLKaRJP]LeVLUR[PNOPLWQJKL[aL[QPVPV SP\TR_RQVLRQJKOLaU\LQJZPNVL_PKPQWRQVgddPLNT\OPLaRVNaJKL[QPLQJKLPQ_PROdQJKLadV bVQTKQ_ZPQOPRL QROPNNPOQPNOL KaOOP]L IN_PR[QPL YN[PL WQNL [QPVPNL Pd\PNL gW fNVPRaddaRPOPRLKdLQWWPNLPQRLXTOVPdLhdPQhPR]

QJZPNL KaOOPL UROPN[PVVPRL PQRL JKL _PVJKa\\PRL [UNJKL [aVL PNL QRL [aVL IRRPNP _PdaR_PRL ZRROP]L eNL VaKL P[JKL [agRL ahL UR[L gPN_NMPNOPL [QPL \\RUR_]L IJK VJKPhOPLcULQKWLKQRLUR[LhdQJZOPLYhPNL[PRL_PcaJZOPRLXaR[]LIRRPRLKPNNVJKOPL\aVO gMddQ_PLURZPdKPQO]LaRRL_PaKNOPLQJKLPQRPRL[QJKOVJKPQR]LeOaVLhPP_OPLVQJK

PPQdL[QJKLVJKNQPLaNQLgRLUROPR]LIJKLVJKadOPOPLWPQRPRLPdWVJKPQRPN\PNLPQR UR[LVJKaR_LWQJKLQRL[aVLJK]LQPNLKPNNVJKOPL\aVOLZPQRPLSNagQOaOQRL[aLVQJKLKd [QPL JKPNZNa\OL QWL `QOOPdURZOL [PVL NQPVQ_PRL U_PdNaUWVL _P_PRVPQOQ_ RPUONadQVQPNOP]L aRRL PRO[PJZOPL QJKL PQRPL SPVOadOL [QPL QRL VQJKL gPNZNYWWOL aRL [PN PQOPRaR[L ZaUPNOP]L IJKL NQJKOPOPL WPQRPRL JKPQRPN\PNL [aNaU\L UR[L cUJZOP cUVaWWPR]LYNLPQRPRL`WPROL_daUhOPL QJKL OaOVTJKdQJKL[aVLVPQLaNaLc]LfhPN [a\YNLaNL[QPLQ_UNL[JKLPOaVLcUL_N]LXPQRLTUPNdQJKL_dQJKLVQPLaNaLP[JKL\aVO aU\VLaaN]LIJKLVJKPhOPLcULQKNLKQRLUR[Lc_L[QPLfNWPLgWLSPVQJKO]LQPL\PKdPR[P SNagQOaOQRLKad\LWQNL[PRLMNPNLcULVONPJZPR]LJKLgPNWJKOPLQJKLRQJKOLcUL_daUhPR [aL VQJKL QRL [QPVPWL PVPRL [QPL IROPddQ_PRcL aNL gPNhPN_PRL VddOP]L aVL SPVQJKO aR[OPLVQJKLWQNLRURLcU]LaNaNaLM\\RPOPL[QPLfU_PRLUR[LVaKLWQJKLVOaURPR[LaR] QPLQPRLhPP_OPRLVQJK]LeVLaNLZPQRLaUOLcULKMNPRLahPNL[aVL^NOLZRROPLQJK [PUOdQJKLgRL[PRLQPRLahdPVPR

PUOd JKL RL PRL PRLahdPVPR[ Q g [ Q

fOdaR

aLVa_OPLQJKLYhPNL[PRLfUPRdaUOVNPJKPN]LIJKLhQRLfOdaR]LWWLWQOLaN]LIJK aN\LWQNL[QPLSPVOadOLYhPNL[QPLJKUdOPNLUR[LVOQPLWQJKLgRL[PNLâR[LQRLXQJKOUR_ [PNL\\RUR_LahL[QPLQJZPNLQRcQVJKPRLPQOPNLgPN_NMPNOLKaOOP]

aNL [PNL aNaNaL \YKdOPL VQJKL RQJKOL QPL PQRL dPhPR[PVL PVPRL aR]L eNL QNZOP VJKaWWQ_LUR[LPQJKLadVLZMRRPLPNLP[PRL`WPROLcULNPQLcPN\dQPPR]LIJKLVJKh [PRLPQhL[UNJKL[aVLJKLUR[LZdPOOPNOPL[aRRLKQROPNKPN]LQJZPNLaJZOPLWQOLVPQRPR ZNaddPRhPPKNOPRL TR_PRL RaJKL aNaNaL UR[L VJKaR_L VQJKL QRL [QPL U\O]L `QO eROVPOcPRLVOPddOPLQJKL\PVOL[aL[QPLNaddPRLOQP\LQRL[PRLbVPU[ZMNPNL[NaR_PR]LaN aNaLNPa_QPNOPL[aNaU\LRQJKOLUR[LPVLaNPRLaUJKLZPQRPLUNPRLPQRPNLPNdPOcUR_LcU PNZPRRPR]LROPRLVOQPLaNQLPQRPRLNPU[PRVJKNPQLaUV]LQPLVJKQPRLcULVYNPRLaV VQJKL[aLRTKPNOP]

IJKLdaR[POPLZUNcLKQROPNL[PWLf[dPNTKRdQJKPRLaU\L[PNL\PVOPRLIRRPRaR[UR_]

^QNLWYVVPRLKQPNLP_L_NddOPLàQdaW]L^QNLWYVVPRLcULbNPccaN]LIJKLKahPLaNQ \NPQQddQ_L [PRL NONQOOL _PdaVVPRL ahPNL POcOL QVOL PVL aRL [PNL PQOL [aL aUJKL WPQR JKM\PNL_PNPOOPOLQN[]

QJZPNL dMVOPL VQJKL gRL aNL [PNL VQJKL KJKL aU\NQJKOPOP]L eNL aNL WQR[PVOPRVL cPQ `POPNL_N]

PNLaRZLZWWOLVTOPNLfOdaRLPNZdaR_LPQRL_aNLRQJKOLcUL[PNLQ_UNLaVVPR[PN WTRRdQJKPNLR]LeNVOLWULQJKL[a\YNLVN_PRL[aL[QPVPVL_NaUVaWPLSP\TR_RQVL\YN QWWPNLcPNVOMNOLQN[]L`PQRPLOPNRPRQRVPdLaNVLWQOL[PNLQJKLPOcOLQP[PNLdPhPL_QhO WQNLRPUPLNa\O]LaNVLSPVOadOLgPNVJKaWWLgNLWPQRPRLfU_PR]LQPLYN[PL \aVO [UNJKVQJKOQ_LUR[LPOcOLWPNZOPLQJKLQKWLPNVOL[aVLINNPadPLaRL[aVLQKWLaRKa\OPOP]L`QN hNaRROPLcaNL[QPLNa_PLaU\L[PRLQPRLQPVLPNL[QPVPVLTUPNdQJKPLQd[LURVPNPN OOPRLeWOQRaUOQRLaR_PRWWPRLKaOOPLahPNLQJKLVJKQP_]

QPLU\OLZRQVOPNOPL\MNWdQJKLadVLaNLeRPN_QPRLQRLVQJKLaU\VaU_OP]LaRRLPN\d_OPLPQRP edVQRL [QPL URVL addPL gRL [PRL PQRPRL NQ]L QPL U_PdL gRL aNVL PKPWadQ_PW SP\TR_RQVLcPNhaNVOLKRPLPNZPRRhaNPLTUPNPLeQRQNZUR_]LaNLVaRZLQP[PNLVJKda\\ QRL VQJKL cUVaWWPR]L eNL KaOOPL KdL VPQRPL _aRcPL RPUPL Na\OL QRL [QPVPL aOL _PdP_O] àQdaWL[PNLcUPNVOLQP[PNLaU\L[PRLPQRPRLaNLaN\LQKRLVQJKLYhPNL[QPLJKUdOPNR] URLcULbNPccaNL[RRPNOPLVPQRLa]LfddPLaU\LPQRWadLVJKa\\PLQJKLRQJKO]LIJKL_PKP cUPNVOLWQOLaNL[PRRLPNLVOPKOLVJKRLQRLROaZOLWQOLbNPccaN]

IJKL ZRROPL P[PNL NOPVOQPNPRL RJKL cUVOQWWPRL [PRRL [PNL hPKaaNOPL XQPVP gPNVJKaR[LURWQOOPdhaNL[aNaU\]

aNQL QJZPNL UR[L QJKL aNPRL addPQR]L QPL ZdaWWPNOPL VQJKL dMOcdQJKL aRL WQJKL UR[ VJKdUJKcOP]L RVPNPL XaUWKPdWPL hPKQR[PNOPRL URVL ahPNL PQRL dQJZL QRL QKNPLfU_PR gPNNQPOLWQNL[aLVQPL_dYJZdQJKLaN]

eQRPLhaR_PLNa_PLVJKdQJKLVQJKLONOcLURVPNPNLRJKL_TRcdQJKLUR_PZdTNOPRLQOUaOQR QRLWPQRPRL\]LâVLYN[PLRURLWQOLaNQL_PVJKPKPRLeQ_PROdQJKLaNLVQPLaUVL[PN QJKOL [PNL aNVIROPddQ_PRcL aNL RURL YhPN\dYVVQ_]L QPL VJKQPRL WPQRPL SP[aRZPR aU\_PRWWPRL[PNLPNNaOPRLcULKahPR]

PQRPL baRQZL WPQRL QPhPNL IKNPL aR[L VONQJKL YhPNL [aVL QJKO\PRVOPNL WPQRPV XaUWKPdWV]LIJKLhQRL_dYJZdQJKL[aL QJKLWPQRPL QVVQRLPN\YddPRLZRROP]LYNLURV hPQ[PLhP[PUOPOL[aVL[aLQJKLRURLRUNLRJKL\YNL[QJKL[aVPQRLPN[P]

QJZPNL ZNaOcOPL KP\OQ_L aRL WPQRPWL NPJKOPRL hPNVJKPRZPd]L IJKL KaOOPL [NOL QRL [PR XaUWaRcU_LPQRPLcUVTOcdQJKPLaVJKPL\PNOQ_PRLdaVVPRL[QPL_PNa[PL_NL_PRU_LaN UWL WPQRPRL _P\QP[PNOPRL NPUR[L aU\cURPKWPR]L IJKL M\\RPOPL [PRL PNVJKdUL [PRR QJZPNVLPNKadOPRLVQ_RadQVQPNOPLSP\aKN]LSdPQJKcPQOQ_LaNROPLQJKLaNQLUR[LVJKadOPOP [QPLJKUOcVJKQNWPLPQR]L^LhdPQhOLàQdaWL \Na_OPLVQP]L^QP[PNLZRROPL QJKL QKN ZPQRPLfRONOL _PhPRL [PRRL [QPL \d_PR[PRL eNPQ_RQVVPL WaJKOPRL [aVL URWM_dQJK] eQRPLVJKPNPLPORaOQRLPNZdaR_LQRLURVPNPNLURWQOOPdhaNPRLTKP]LQPLâR[L[PV U_PdNaUWVLMdhOPLVQJKLaRL[PNLURVL_P_PRYhPNdQP_PR[PRLPQOPLaU\]LeVLhQd[POPR VQJKL hNPQOPL XQVVPL QRL [PRPRL PQRL eRPN_QP\Pd[L \dQWWPNOP]L aKQROPNL ahPNOPR PQ_dYKPR[PLàVVPR]LQPLfXef LVJKNQPLaNQL[UNJKL[aVLhPR]L^QN WYVVPRLP_

IJKLVPKROPLàQdaWLKPNhPQLahPNLgRL[PWLcPQ_OPLVQJKLZPQRPLUN]

eQRLPQOPNPNLNP\\PNL QRL[QPVPRLPZONLPN\d_OP]LQPVWadLVJKaOPLPOaVL[UNJK PQRPL \\RUR_L [QPL VQJKL PNVOL PZUR[PRhNUJKOPQdPL [UNJKL PQRL VQJKL aU\haUPR[PV eRPN_QP\Pd[LQP[PNLRO[YN\OQ_LVJKd]

`PQRL XaUWaRcU_L VJKdU_L fdaNWL UR[L [PNL SNagVOahQdQVaONL KPUdOPL aU\]L `QO eROVPOcPRL daVL QJKL [QPL PNOPL ah]L QPLfUPROPWPNaOUNL aNL VJKda_aNOQ_L aU\L [QP hPNPL PdaVOUR_V_NPRcPL gRL PQRQ_PRL pq]qqqL SNa[L _PVNUR_PRL UR[L [QP JKPNZNa\OLhPONU_LrsLSNagV]LeVLaNLRUNLRJKLPQRPLNa_PLgRLPZUR[PRLhQV [QPL VOPWPL cUVaWWPRhNaJKPR]L R[L RJKL QWWPNL _ahL PVL ZPQRPL UNL gR àQdaW]

aNQL[NTR_OPLVQJKL QRLWPQRPLTKPLUR[LZdaWWPNOPLVQJKLaRLWQJK]L IKNLaNLPhPRV ZdaNLQPLWQNL[aL[PNLRTJKVOPLJKUL[PNLfXef LURVLgPNRQJKOPRLYN[P]

IJKLhdQJZOPLQRL[QPLMKPLUR[LVaKL[PRLeQRVJKda_]LRRPRL[PNLRRPRdagaLVOYNcOPR aU\L URVL KPNah]L PNL TNWL aNL URhPVJKNPQhdQJKL hKdL [QPL fUOWaOQZL [QP fUPR_PNTUVJKPL[TW\OP]

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