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CLNOK:/;TPKOKDLC2K
K2H0IHNC/D MKEPKK3
ED3#2H.%2-*=-*-.52(2
EBCD>)#-.%57#2&"0#*#)-
.+OKHPKH0NQTKL/ROCDKLKEKDKPH/RLTKP;HN/TOQNH
444
"JI! #55##jOHLXKKD :/DLCMKPKM HL/DK/RNOK;/LN
HINO/PCNHNC2KPKLKHP:OKLCD OCDHL/RHP! HDM OHLXKKD
SCMK0QsI/NKM CD L:CKDNCRC:THTKPL3+OKHDH0QLCLPKLI0N/R
HPKH0NQTKL/RVHDE[O/I EKDKPH/RSKN0HDM LTKP;HN/TOQNH
CLPK0QCDE/D NOCLTIX0C:HNC/D! NOKPKLI0NLXKCDELO/SD CD
NHX0K#3+OKPKHPK#6 HPKH0NQTKL/REKDKPH/RSKN0HDM
LTKP;HN/TOQNHCD VHDE[O/I CNQ! :/;T0QCDESCNO <"` /R
NOKN/NH0NQTKLCD OCDH3+OCL;KHDLEKDKPH/RSKN0HDM
LTKP;HN/TOQNHCD VHDE[O/I /PCECD RP/;H0HPEK2HPCKNQ/R
EK/EPHTOC:H0K0K;KDNL3+OK;HCD HPKH0NQTKL/RVHDE[O/I
EKDKPH SKN0HDM LTKP;HN/TOQNH HPK THDNP/TC:! D/PNO
NK;TKPHNKHDM KHLN,LCH! NOKN/NH0TKP:KDNHEK/RNOKLK
NOPKKNQTKLHPK\6`! SOC:O PKR0K:NNOKSCMKLTPKHM
:OHPH:NKP/RNOKEKDKPH/RSKN0HDM LTKP;HN/TOQNHCD
VHDE[O/I! HDM MKKT /PCECDH0PK0HNC/DLOCT SCNO ;/LNTHPNL
/RNOKS/P0M3,::/PMCDEN/6% KYTKPNLjHLLKLL;KDN"NHX0K
6#! HLNOKLCDE0KRH:N/P!NOKHLLKLL;KDNPKLI0N/RNOKHPKH0
NQTKL/REKDKPHCL.2KPQE//M/3
6-?FCD>)#-.%57#2&";-*0SK&H0#*#)- :#%.-*=27#),-%&7K5%-
*/3 +OKEKDKPC:HPKHNQTKLCD OCDH +OKEKDKPC:HPKHNQTKLCD VHDE[O/I"EKDKPH# AKP:KDNHEK"`#
+/NH0 !$! #%%
# /L;/T/0CNHD "$ (
$ AHDNP/TC: 5< $"15
6 +P/T3,LCHHDM ,;KPC:HD MCLkID:NKM ! #1#
! W0M S/P0M NP/TC:L $# \1%
8 +P/T3,LCHN/,ILNPH0HLCHMCLkID:NKM #$ 61!
\ +P/T3,LCHN/,RPC:HMCLkID:NKM #% $1<
" +P/T3,LCH #< 81#
< */PNO NK;TKPHNK <6 $615 )HLN,LCHHDM D/PNO ,RPC:HMCLkID:NKM $$ \16
#% W0M S/P0M NK;TKPHNK 68 515
## +K;TKPHNK,LCH $ %1#$ KDNPH0,LCH % %
#6 hKMCNKPPHD:K!SKLNH0L/N/:KDNPH0,LCH % %
#! )HLN,LCH !$ ##15
#8 )DMK;C:N/OCDH 8 #1!
EBADJ7#$(#22%-%H2
+OKSKN0HDM LTKP;HN/TOQNHCD VHDE[O/I :/;TPCLK
<8# LTK:CKL! SOC:O HPK$8` LTK:CKLCD GOKkCHDE
AP/2CD:K !$! EKDKPH! SOC:O HPK6!` EKDKPHCD
GOKkCHDEAP/2CD:K ##! RH;C0CKL! SOC:O HPK\6`
RH;C0CKLCD GOKkCHDEAP/2CD:K"NHX0K$ #3JCNOCD NOK
RH;C0CKLCD VHDE[O/I NOKPKHPK58 L;H0>L:H0KRH;C0CKL
:HD XKCMKDNCRCKM3,::/PMCDEN/6% KYTKPNLjHLLKLL;KDN
"NHX0K6#! HLNOKLCDE0KRH:N/P! NOKHLLKLL;KDNPKLI0N
/RNOKLTK:CKLLNHNILCL.E//M/3
6-?FADJ7#$(#22%-%H2&":#%.-*=27#),-%&7K5%-
(*;-*0SK&H
(NK; +/NH0 AKP:KDNHEKCD GOKkCHDE"`#
?H;C0CKL ##! \$1eKDIL !$! 6615
&TK:CKL <8# $81$
EBEDG)(&)(%5 7)&%#$%(&*27#$(#2
WD gHDIHPQ #! #55"! OCDHjL RCPLNLTK:CH0
HM;CDCLNPHNC2KPKEI0HNC/D N/TP/NK:NSC0M T0HDNL.+OK
AK/T0KjL@KTIX0C:/ROCDH@KEI0HNC/D /D AP/NK:NC/D /R
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A3@3OCDH3,LNOKLITT/PNCDEM/:I;KDNHNC/D /RNOK
PKEI0HNC/D! .NOKDHNC/DH00CLN/RSC0M T0HDNLIDMKP
TPC/PCNQTP/NK:NC/D CD OCDH"RCPLNXHN:O#/ SHLPK0KHLKM
/D ,IEILN!! #5553+OCLCLNOK;/LNHINO/PCNHNC2K0CLN
/RT0HDNTP/NK:NC/D CD OCDH3,::/PMCDEN/CN! NOKPKHPK
" SKN0HDM LTKP;HN/TOQNH LTK:CKL IDMKP TPC/PCNQ
TP/NK:NC/D! SOC:O HMMLIT N/\!` /RNOK## SKN0HDM
LTKP;HN/TOQNHLTK:CKL IDMKP TPC/PCNQ TP/NK:NC/D CD
GOKkCHDE AP/2CD:K3 <(%,"14% ,.A("&"(4 XK0/DEL N/
OCDHjL
%
TPC/PCNQ TP/NK:NC/D EPHMK F(%@% 41.4,%!
Z#,4% ,414.%! R/#.41",=%! +%0@#(95 24&)(#,!
J"/95&19.4*"(%! HDM ;411%5595.%5@A(% XK0/DE
N/OCDHjL
$
TPC/PCNQTP/NK:NC/D EPHMK3,::/PMCDEN/6%
KYTKPNLjHLLKLL;KDN"NHX0K6#! HLNOKLCDE0KRH:N/P! NOK
HLLKLL;KDNPKLI0N/RNOKTPC/PCNQTP/NK:NC/D LTK:CKLCL
.DKINPH0j3
EBUD3#.($%0#*#)- &"0.-$(-.#7&$K
(D SKN0HDM LTKP;HN/TOQNH/RVHDE[O/I CNQ! NOKPK
HPKL/;KPK0C:NEKDKPHHDM RH;C0CKL/RNOKE0H:CH0
KT/:O! LI:O HL:419,! 6%/4B! :)"(.%(#%! H/59,!
O0/PHDNOH:KHK! &HIPIPH:KHK! *Q;TOHKH:KHK!
-HPMC[HXH0H:KHK! HDM @HDID:I0H:KHK! SOC:O HPK
2H0IHX0KR/PPKLKHP:O HDM :/DLKP2HNC/D3,::/PMCDEN/
6% KYTKPNLjHLLKLL;KDN"NHX0K6#! HLNOKLCDE0KRH:N/P!
NOKHLLKLL;KDNPKLI0N/RNOKPK0C:NEKDKPH/RE0H:CH0
KT/:O CL.E//M/3
EBQD<*VH)(&H227#$(#2
+OK &NHNK )D2CP/D;KDNH0 AP/NK:NC/D
,M;CDCLNPHNC/D! A3@3OCDHHDD/ID:KM .NOKDHNC/DH0
0CLN/RCDkIPC/IL HM2KDNCNC/IL T0HDNL/ CD:0IMCDE "
LTK:CKL NOK&NHNK?/PKLNPQ,M;CDCLNPHNC/D! A3@3
OCDHHDD/ID:KM .NOKDHNC/DH00CLN/RCDkIPC/ILT0HDNL
CD OCDH/ CD:0IMCDE$! LTK:CKL! SOC:O OHLXKKD
:/DLCMKPKM HLNOK/RC:CH0HINO/PCNHNC2K0CLNCD OCDHL/
RHP! HDM OHLXKKD SCMK0QsI/NKM CD L:CKDNCRC:THTKPL
HDM DKSLTHTKPL! PHMC/HDM NK0K2CLC/D3,::/PMCDEN/NOK
NS/0CLNL! NOK CDkIPC/ILSKN0HDM LTKP;HN/TOQNH CD
VHDE[O/I :/;TPCLK!" LTK:CKL! SOC:O HPK\` LTK:CKL
/RNOKN/NH0SKN0HDM LTKP;HN/TOQNHCD VHDE[O/I 6EKDKPH! SOC:O HPK5` EKDKPH/RNOKN/NH0SKN0HDM
LTKP;HN/TOQNH CD VHDE[O/I :/PPKLT/DMCDE N/ #<
RH;C0CKL! SOC:O HPK#\` RH;C0CKL/RNOKN/NH0SKN0HDM
LTKP;HN/TOQNH CD VHDE[O/I3 ,::/PMCDE
N/6% KYTKPNLjHLLKLL;KDN" NHX0K6 #! HLNOKLCDE0K
RH:N/P! NOKHLLKLL;KDNPKLI0N/RNOKCDkIPC/ILLTK:CKLCL
.E//M/3
EBWD8-$%&):#(0K%4#$%&)
+OKHLLKLL;KDNRH:N/PSKCEON2K:N/PLHPK:/DRCP;KM
XQ NOK BK0TOC ;KNO/M XHLKM /D 6% KYTKPNLj
sIKLNC/DDHCPKL3+OKLKHLLKLL;KDNRH:N/PSKCEON2K:N/PL
/RNOKHPKH0NQTKL/REKDKPH! NOKLTK:CKLLNHNIL! NOK
TPC/PCNQTP/NK:NC/D LTK:CKL! PK0C:NEKDKPH/RE0H:CH0
KT/:O HDM NOKCDkIPC/ILLTK:CKLHPKPKLTK:NC2K%1$"!
%16! %1#5! %1#! HDM %1#3
EBXDJ(*0.#"-$%&),#,?#)2K(7=#0)##
,::/PMCDEN/NOKKYTKPNLjsIKLNC/DDHCPKL"NHX0K
6#! ILCDER/P;I0H#! LCDE0KRH:N/P;K;XKPLOCT MKEPKK
/RSKN0HDM LTKP;HN/TOQNHMC2KPLCNQCD VHDE[O/I :HD XK
:H0:I0HNKM CD NHX0K!3
6-?FED!M7#)%2Y-22#22,#*%"&)2(*0.#"-$%&)&":#%.-*=27#),-%&7K5%- =(4#)2(%5 (*;-*0SK&H
(NK; .KPQE//M e//M *KINPH0 J/PLK J/PLN
,PKH0NQTKL/REKDKPH $% 5 #
&TK:CKLLNHNIL < $% $
APC/PCNQTP/NK:NC/D LTK:CKL 6 ## #! # #
@K0C:NEKDKPH/RE0H:CH0KT/:O 6 #6 #6 #
(DkIPC/ILLTK:CKL $ #$ ## ! #
6-?FUD>22#22,#*%)#2H.%"&)2(*0.#"-$%&),#,?#)2K(7=#0)##&":#%.-*=27#),-%&7K5%- =(4#)2(%5 (*;-*0SK&H
(NK; .KPQE//M e//M *KINPH0 J/PLK J/PLN
,PKH0NQTKL/REKDKPH %1\" %16% %1%6
&TK:CKLLNHNIL %1$\ %1\" %1%"
APC/PCNQTP/NK:NC/D LTK:CKL %1#% %16" %1!" %1%6 %1%6
@K0C:NEKDKPH/RE0H:CH0KT/:O %1#% %1!6 %1!6 %1%!
(DkIPC/ILLTK:CKL %1%" %1!% %16" %1#6 %1%6
EBOD+-.$H.-%#=$&*$.H2(&*
,::/PMCDEN/NOKHLLKLL;KDNPKLI0NLR/PLCDE0K
RH:N/PL " NHX0K ! #! NOK HLLKLL;KDN /R SKN0HDM
LTKP;HN/TOQNH MC2KPLCNQ :HD XK MKD/NKM XQ NOK
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%1\" %16% %1%6 %1%% %1%%
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44?/0/SCDENOKLCDE0KRH:N/P;K;XKPLOCT MKEPKK!
NOKHLLKLL;KDNSKCEON2K:N/P:HD XKKYTPKLLKM HL&
7
9#
O"%1$" %16% %1#5 %1#! %1#%#
4 4 +OKD H::/PMCDEN/R/P;I0H6! ILCDEh,+-,U
L/RNSHPK! NOKHLLKLL;KDNPKLI0NL/RSKN0HDM LTKP;HN/TOQNH
MC2KPLCNQCD VHDE[O/I CNQ:HD XK:H0:I0HNKM HL&
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9#
O7
9#
K
9#
O"%1$"4%16%4%1#54%1#%4%1%6#
44?CDH0QNOKLK:/DM DI;XKP%16% CL:O/LKD! SOC:O
CL ;HYC;I; HDM :/PPKLT/DML N/ NOK HLLKLL;KDN
LNHDMHPM . E//M /! SOC:O ;KHDL NOK HLLKLL;KDN
:HNKE/PQ /R SKN0HDM LTKP;HN/TOQNH MC2KPLCNQ CD
VHDE[O/I CNQCLPHNKM HL.E//M/3
UD+&*$.H2(&*-*=2H00#2%(&*
+OK :/;TPKOKDLC2K HLLKLL;KDN :/D:0ILC/D
CMKDNCRCKL NOK SKN0HDM LTKP;HN/TOQNH MC2KPLCNQ CD
VHDE[O/I CNQHL.E//M/! SOC:O CL:/PPKLT/DMCDEN/
NOKPKH0CNQ3+OK;HCD PKHL/DLHPKVHDE[O/I 0CKLCD NOK
L/INOKHLN:/HLN/ROCDH! HDM SO/LKDHNIPH0:/DMCNC/DL
HDM NOKXC/0/EC:H0MC2KPLCNQHPKXKNKPNOHD CD /NOKP
T0H:KLCD OCDH3+OK:/D:0ILC/D CDMC:HNKLNOHNNOK
:IPPKDNSKN0HDM LTKP;HN/TOQNHMC2KPLCNQCD VHDE[O/I
CNQCLHXIDMHDNHDM T0HQLH2KPQC;T/PNHDNP/0KR/P
K:/LQLNK; RID:NC/DCDE! LKP2C:KL HDM LILNHCDHX0K
MK2K0/T;KDN3
V/SK2KP! NOKLCNIHNC/D CLD/N/TNC;CLNC:3+OK
:/DLNPI:NC/D TP/kK:NL! LI:O HLKD:0/LCDENCMK0HDM R/P
:I0NC2HNC/D HDM :HTCNH0:/DLNPI:NC/D! PKLI0NCD H
:/DNCDI/ILPKMI:NC/D /RDHNIPH0SKN0HDM HPKHL! SOC0K
CDMILNPCH0HEPC:I0NIPH0 TP/MI:NC/D HDM IPXHDC[HNC/D
HEEPH2HNKNOK T/0INC/D CD 0HDM SHNKPHDM LOH0/S
;HPCDK SHNKPL3 +OK 0C2CDE sIH0CNCKL /R SKN0HDM
LTKP;HN/TOQNH HPK MP/TTCDE3 &/ NOKPK CL OKH2Q
PKLT/DLCXC0CNQIT/D TK/T0KHDM H0/DESHQN/E/R/P
SKN0HDM LTKP;HN/TOQNHMC2KPLCNQCD VHDE[O/I CNQ3
+OKPKR/PK! NOKZKQLCEDCRC:HD:KR/PNOKHLLKLL;KDN
/RNOKSKN0HDM LTKP;HN/TOQNHMC2KPLCNQCD VHDE[O/I
CNQ! XHLKM /D RI[[Q:/;TPKOKDLC2KK2H0IHNC/D ;KNO/M
CLN/TP/2CMKL:CKDNCRC:XHLCLR/PMCLNCDEICLOCDESKN0HDM
2KEKNHNC/DLTP/NK:NC/D [/DK! 0KECNC;HNK0QTP/NK:NCDEHDM
INC0C[CDESKN0HDM LTKP;HN/TOQNKCD VHDE[O/I CNQ3(D
HMMCNC/D! NOK :/;TPKOKDLC2K HLLKLL;KDN! ILCDE
sIH0CNHNC2KHDM sIHDNCNHNC2K;KNO/M CLTC/DKKPPKLKHP:O!
SOC:O S/I0M XKILKRI0R/PNOKDKYNPKLKHP:O /RSKN0HDM
2KEKNHNC/DLMC2KPLCNQCD VHDE[O/I CNQ3
UK:HILKNOKNC;KHDM RIDMLHPK0C;CNKM! NOK
PKLKHP:O /D0Q:/0K:NL6% KYTKPNLjsIKLNC/DDHCPKLN/
HLLKLLNOKSKN0HDM LTKP;HN/TOQNHMC2KPLCNQCD VHDE[O/I
CNQ3BIKN/NOKHLLKLL;KDNCL:0/LK0QPK0HNKM SCNO
DI;KP/ILLIXkK:NL! LTK:CH0NCKLHDM MKTHPN;KDNL! NOK
;/PK:/0K:NCDEKYTKPNLjsIKLNC/DDHCPKL! NOK/XkK:NC2K
HDM H::IPH:Q/RNOKPKLKHP:O HPKXKNKP3
3#"#)#*$#2
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PKEC/D CD D/PNOSKLNOCDH3?P/DNCKPL/R?/PKLNPQCD OCDH!$ " 6 # &
$-CH/GG"
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CNL2C:CDCNCKLXHLKM /D RI[[Q:0HLLCRC:HNC/D3OCDKLK,EPC:I0NIPH0
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