...

2C?@ 6B9 56G;E 3;FG?B= (H?9;@?B;F <CE )CA; 6B9 $CAAHB?GK (6E9;BF

by user

on
Category: Documents
78

views

Report

Comments

Transcript

2C?@ 6B9 56G;E 3;FG?B= (H?9;@?B;F <CE )CA; 6B9 $CAAHB?GK (6E9;BF
2C?@ 6B9 56G;E 3;FG?B=
(H?9;@?B;F <CE )CA; 6B9
$CAAHB?GK (6E9;BF
3"#,& /' $/.3&.32
QYZd] g^ @gfl]flk,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, /
Ffljg\m[lagf ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 0
T`q l]klaf_ ea_`l Z] f]]\]\ ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 1
T`g k`gmd\ mk] l`ak _ma\]< ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 2
TYl]j,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 3
Ag]k qgmj kal] `Yn] oYl]j< ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 3
Ag qgm f]]\ lg l]kl qgmj oYl]j<,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 3
Jmfa[ahYd oYl]j ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4
PeYdd oYl]j kqkl]e,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4
TYl]j o]dd gf qgmj hjgh]jlq ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4
DjYqoYl]j,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 5
OYafoYl]j ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 5
O][q[d]\ - O][dYae]\ TYl]j,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 6
Ego lg l]kl qgmj oYl]j ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 7
T`Yl k`gmd\ qgm \g a^ qgmj oYl]j ak [gflYeafYl]\< ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, //
Pgad,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, /0
Ag qgm f]]\ lg l]kl qgmj kgad<,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, /1
Ego lg l]kl qgmj kgad ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, /3
Pgad Qj]Yle]flk Y^l]j Q]klaf_ ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 00
?]kl MjY[la[]k JYfY_]e]fl ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 02
@gf[dmkagf,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 04
O]^]j]f[]k Yf\ O]kgmj[]k ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 05
>[cfgod]\_e]flk ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 07
@gfljaZmlgjk ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 07
/
*.31/%4$3*/.
DYj\]faf_ ak Y _j]Yl oYq lg _]l ^j]k`* fmljalagmk n]_]lYZd]k Yf\ ^jmal* o`ad] kYnaf_ gf ^gg\
[gklk* `]dhaf_ l`] ]fnajgfe]fl* Yf\ [gff][laf_ oal` f]a_`Zgjk* ^Yeadq* Yf\ ^ja]f\k,
Ego]n]j* kge] hgl]flaYd hdYflaf_ dg[Ylagfk eYq fgl Z] kmalYZd] ^gj _Yj\]faf_ \]h]f\af_ gf
YnYadYZd] kgad Yf\ oYl]j, TYl]j eYq `Yn] \ak]Yk]+[Ymkaf_ ZY[l]jaY* Yf\ kgad eYq [gflYaf
mfkY^] d]n]dk g^ d]Y\* Yjk]fa[* [`jgeame* e]j[mjq* gj gl`]j [gflYeafYflk l`Yl [gmd\
hgl]flaYddq `Yje qgmj `]Ydl`, Cgj ]pYehd]* d]Y\ ]phgkmj] Yegf_ [`ad\j]f [Yf d]Y\ lg Y
oa\] jYf_] g^ `]Ydl` hjgZd]ek* ^jge `]Y\Y[`]k Yf\ klgeY[` hYaf lg Z]`YnagjYd hjgZd]ek
Yf\ Yf]eaY &fgl ]fgm_` `]Ydl`q j]\ Zdgg\ []ddk', JYcaf_ kmj] l`Yl qgmj kgad Yf\ oYl]j Yj]
kY^] lg mk] ak l`] ^ajkl kl]h af [j]Ylaf_ Y _Yj\]f l`Yl hjg\m[]k `]Ydl`q ^gg\ Yf\ ak Y kY^]
khY[] lg kh]f\ lae],
ERO =Y\ 2XQOVO\ 4Y^X]b 5OZK[]WOX] YP A^LVSM 9OKV]R OXMY^[KQO\ bY^ ]Y ]O\] bY^[ \YSV
KXN `K]O[ !SP XY] NYXO Lb bY^[ VYMKV `K]O[ Z[Y_SNO[" Z[SY[ ]Y \]K[]SXQ bY^[ QK[NOX% Q`ak
_ma\] oadd `]dh qgm Ykk]kk l`] [XNLTJ_ ^gj l]klaf_ qgmj kgad Yf\ oYl]j* Yf\ oadd eYc]
j][gee]f\Ylagfk ^gj \gaf_ kg, HRO]RO[ Y[ XY] bY^ NOMSNO ]Y ]O\] bY^[ \YSV KXN `K]O[
KP]O[ [OKNSXQ ]RS\ Q^SNO# `O [OMYWWOXN [O_SO`SXQ ]RO e3O\] A[KM]SMO\ >KXKQOWOX]f
\OM]SYX ]RK] LOQSX\ YX ZKQO )+%
0
5>K G;FG?B= A?=>G 7; B;;9;9
Djgoaf_ ^gg\ af Yf mjZYf Yj]Y j]imaj]k _Yj\]f]jk lg Y\\j]kk \a^^]j]fl [`Ydd]f_]k l`Yl eYq
fgl Z] hj]k]fl af Y_ja[mdlmjYd k]llaf_k, >k k`gof af l`] _jYh`a[ Z]dgo* l`]k] [`Ydd]f_]k
ea_`l af[dm\]
&>' hgddmlYflk ^jge ^Y[lgja]k Yf\ af\mkljaYd mk]k &Zgl` hYkl Yf\ hj]k]fl'9
&?' hgddmlYflk ^jge [Yjk l`Yl [Yf l`]f [gflYeafYl] kgad9
&@' [gflYeafYl]\ oYl]j9
&A' d]Y\+hYafl [`ahk ^jge gd\ Zmad\af_k9
&B' kgad [gflYeafYl]\ Zq hjagj dYf\ mk]k9
&C' dY[c g^ Y[[]kk lg oYl]j9
&D' hgl]flaYddq [gflYeafYl]\ `Yjn]kl]\ jYafoYl]j9
&E' j]\m[]\ kmfda_`l Z][Ymk] g^ lYdd Zmad\af_k*
&F' af[j]Yk]\ `]Yl ^jge f]YjZq eY[`af]jq* dac] Yaj [gf\alagf]jk9 Yf\
&G' af[j]Yk]\ `]Yl ^jge `gl Ykh`Ydl hYn]e]fl,
3XLKPZ0 BOPY PRR[YZXHZPUT PY MXUS c5T\PXUTSLTZHR 3OHRRLTNLY BOXLHZLTPTN ZOL 7XU]ZO UM CXIHT 1NXPJ[RZ[XL PT ZOL CTPZLK AZHZLYd I_
AHS EUXZSHT HTK AHXHO BH_RUX ;U]LRR# 9U[XTHR UM 5T\PXUTSLTZHR ?[HRPZ_# DUR% +) =U%,# V%().*$()/+# 9[TL ),# )'(+%
!OZZV0&&SUKLXTMHXSLX%JUS&)'(+&'-&RLHK$[XIHT$NHXKLTY&"
T`ad] l`]k] [`Ydd]f_]k Yj] j]Yd* l`]j] Yj] eYfq hdY[]k af mjZYf Yj]Yk o`]j] qgm [Yf _jgo
^gg\ kY^]dq Yf\ km[[]kk^mddq,
1
5>C F>CH@9 HF; G>?F =H?9;!
Q`ak _ma\] ak ^gj h]ghd] o`g oYfl lg _jgo ^gg\ af [geemfalq _Yj\]fk gj gf l`]aj gof
hjgh]jlq af Igk >f_]d]k @gmflq ^gj h]jkgfYd mk], Q`ak _ma\] Y\\j]kk]k `]Ydl` Yf\ kY^]lq
[gf[]jfk j]dYl]\ lg kgad Yf\ oYl]j* Yf\ j][gee]f\k hjY[la[]k lg eafaear] `]Ydl` jakck Y^l]j
`Yjn]kl &k]] t?]kl MjY[la[]k JYfY_]e]flu k][lagf gf hY_] 02',
RdlaeYl]dq* al ak aehgjlYfl lg qgmj `]Ydl` l`Yl Ydd g^ l`] ^gg\ qgm _jgo ak kY^] lg ]Yl ZYk]\ gf
klYf\Yj\k k]l Zq gj_YfarYlagfk km[` Yk l`] Cgg\ Yf\ >_ja[mdlmj] Lj_YfarYlagf &C>L' Yf\ l`]
Tgjd\ E]Ydl` Lj_YfarYlagf &TEL', / ;P bY^ SX]OXN ]Y \OVV Y[ NS\][SL^]O ]RO PYYN bY^ Q[Y`#
[gflY[l l`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` lg d]Yjf `go lg Z][ge] Y
@geemfalq Cgg\ Mjg\m[]j Yl &404' 21.+320/ gj
`llh8--h`,dY[gmflq,_gn-]`-PPB-Cgg\Jadc-^gg\eadcXPh][Cgg\P]jnMjg_,`le
/
C>L-TEL Tgjcaf_ Ag[me]fl ^gj Ff^gjeYlagf Yf\ Rk] af Aak[mkkagf O]dYl]\ lg @gflYeafYflk Yf\ Qgpafk af l`] DP@QCC
&JYj[` 0./0', ^lh8--^lh,^Yg,gj_-[g\]p-e]]laf_k-[[[^-[[[^4-[^.4XFKC],h\^ &>[[]kk]\ >m_mkl 0./3'
2
5"3&1
Bn]jq _Yj\]f f]]\k oYl]j lg ^dgmjak`, Ego]n]j* \]h]f\af_ gf qgmj oYl]j kgmj[]* al eYq Z]
aehgjlYfl lg l]kl qgmj oYl]j lg eYc] kmj] al ak kY^], Rf\]j_jgmf\ jg[ck Yf\ kgad eYq [gflYaf
e]lYdk dac] [Y\eame Yf\ d]Y\* Yk o]dd Yk ZY[l]jaY* hYjYkal]k* Yf\ najmk]k* o`a[` [Yf eYc]
oYl]j mfkY^] lg \jafc Yf\ ^gj mk] af l`] _Yj\]f, Ff Y\\alagf* [`]ea[Ydk mk]\ af dYj_]+k[Yd]
^Yjeaf_ Yf\ af\mkljq &],_,* `]jZa[a\]k* h]kla[a\]k' [Yf [gflYeafYl] oYl]j, Qg d]Yjf egj]
YZgml `go oYl]j ea_`l Z] [gflYeafYl]\* hd]Yk] j]Y\ l`] @Yda^gjfaY TYl]j ?gYj\ _ma\] Yl
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-oYl]jXakkm]k-hjg_jYek-_YeY-\g[k-o]ddgof]jX_ma\],h\^
%C;F KCHE F?G; >6I; J6G;E!
F^ qgm Yj] fgl kmj] a^ qgmj kal] `Yk oYl]j YnYadYZd]* qgm [Yf ljq l`] ^gddgoaf_ kl]hk8
/, =YYU PY[ MV^O\%
F^ l`]j] ak Y oYl]j e]l]j Zgp gf gj f]Yj l`] hjgh]jlq* l`]j] ak Y _gg\ [`Yf[] qgmj kal]
eYq Ydj]Y\q `Yn] Y[[]kk lg emfa[ahYd oYl]j,
0, 2\U Y`XO[\ YP XOSQRLY[SXQ Z[YZO[]SO\%
>kc qgmj f]a_`Zgjk YZgml l`]aj oYl]j hjgna\]j, @`Yf[]k Yj] l`Yl a^ qgmj f]a_`Zgj ak
_]llaf_ oYl]j* qgm [Yf lgg,
1, 4YX]KM] bY^[ VYMKV T^[S\NSM]SYX%
Q`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ Tgjck o]Zkal]
&`llh8--\ho,dY[gmflq,_gn-_]f]jYd-k]jna[]dg[Ylgj-' [Yf `]dh qgm \]l]jeaf] l`]
mladala]k ^gj Y _an]f Y\\j]kk, Q`] o]Zkal] daklk af^gjeYlagf ^gj f]Yjdq Ydd hYjlk g^ Igk
>f_]d]k @gmflq,
%C KCH B;;9 GC G;FG KCHE J6G;E!
TYl]j [Yf [ge] ^jge Y nYja]lq g^ kgmj[]k o`a[` [Yf eYc] l`] oYl]j egj] gj d]kk jakcq lg
mk], Q`] lYZd] Z]dgo daklk hgl]flaYd oYl]j kgmj[]k* o`]l`]j qgm f]]\ lg l]kl qgmj oYl]j* Yf\
o`]l`]j l`]j] Yj] ]pljY hj][Ymlagfk Yf\ [gfka\]jYlagfk qgm k`gmd\ lYc] Z]^gj] mkaf_ l`]
oYl]j &j]_Yj\d]kk g^ o`]l`]j qgm l]kl,
HK]O[ \Y^[MO
Jmfa[ahYd oYl]j
PeYdd oYl]j kqkl]e
TYl]j o]dd
DjYqoYl]j
OYafoYl]j
O][q[d]\ oYl]j
5Y bY^ XOON ]Y
]O\] ]RO `K]O[1
Kg
Kg
V]k &h]jag\a[Yddq'
Kg
JYqZ]
Kg
6a][K Z[OMK^]SYX\ Y[
MYX\SNO[K]SYX\ LOPY[O ^\SXQ1
Kg
Kg
Kg
V]k
V]k
V]k
3
-,&##($. 6G;E
. KOPQN>=J=NA=OD=RA=??AOOPKS=PANPDNKQCD=LQ>HE? S=PANOUOPAI 5DEO PULAKBS=PANEO
KBPAJ?=HHA@ thglYZd]u KNt\jafcaf_u S=PAN
"HHS=PANBNKI LQ>HE? S=PANOUOPAI O ODKQH@ >AO=BAPK QOAQJHAOOKPDAN=@REOKNEAO =NAEJ
]^^][l, *BUKQ =NA?ANP=EJUKQ =NAQOEJC I QJE?EL=HS=PAN l`] S=PANODKQH@ >AO=BA=J@ UKQ @K
JKPJAA@ PK@K=JU BQNPDANS=PANl]klaf_, *BUKQ D=RA?KJ?ANJO=>KQPPDAO=BAPU KBUKQN
I QJE?EL=HS=PAN
AC @QAPK K@KNKN?KHKN ?KJP=?PPDA$=HEBKNJE=& JRENKJI AJP=H1NKPA?PEKJ
>_]f[q v 4P=PA8 =PAN3AOKQN?AO $KJPNKH#K=N@ v %EREOEKJKB%NEJG EJC 8 =PANYl
Yl8
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-\jafcaf_XoYl]j-[]jlda[-\jafcaf_oYl]j-hmZda[oYl]jkqkl]ek
,k`led
2A6@@ . +) FKFG;A
1AKLHAPD=PHERAEJ=NA=OSEPDKQP=??AOO PKI QJE?EL=HS=PANI =U NA?AERAS=PANPDNKQCD=
OI =HHS=PANOUOPAI " OI =HHS=PANOUOPAI EOKJAPD=POANRAO BASANPD=J LANOKJO 0 4I =HH
S=PANOUOPAI O=NANACQH=PA@ >U PDA-KO "JCAHAO$KQJPU %AL=NPI AJPKB1Q>HE? E]Ydl` 5DEO
S=PANODKQH@ >AO=BA=J@ UKQ @KJKPJAA@ PK @K=JU BQNPDANoYl]j l]klaf_, *BUKQ D=RA
?KJ?ANJO =>KQPPDAO=BAPU KBl`] oYl]j BNKI UKQNOI =HHS=PANOUOPAI AC @QAPKK@KNKN
[gdgj' ?KJP=?PPDA-KO "JCAHAO$KQJPU %AL=NPI AJPKB1Q>HE? )A=HPD=P
21.+ KN
`llh8--ooo,hmZda[`]Ydl`,dY[gmflq,_gn-]`-]h-\o-\oXeYaf,`le
+) . $$'& /',) ()'()+/
*BUKQNS=PAN?KI AO BNKI =o]dd KJUKQNLNKLANPU UKQ I =U JAA@ PK PAOP % ?7C/A3 D 3:: D /A3?
7@<=A?35B:/A32 KXN @6=B:2 0 3 ]O\]ON
ON ZO[SYNSMKVVb A= ; /93 @B?3 7A1=<A7<B3@A= 0 3 @/43
A= B@3 /<2 2?7<9 1HA=OANAREAS PDAX)KS PKPAOPUKQNS=PANY OA?PEKJ>AHKS
. =B?D 3:: @6=B:2 0 3 >3?; 7AA32
8 AHHOPD=P=NAEJOP=HHA@ EHHAC=HHU QJLANI EPPA@ I =U >APKK ?HKOAPKLKPAJPE=HOKQN?AOKB
[gflYeafYflk gj fg
fgP>QEHPPKLNKLANOLA?EBE?=PEKJO *BUKQNSAHHEO QJLANI EPPA@ UKQNS=PAN
I =U >ADECDANNEOG *BUKQ ?=JJKPBEJ@ KQPSDAPDANUKQNSAHHS=OLANI EPPA@ KNJKP UKQ
ODKQH@ ?KJOE@ANPAOPEJC UKQNS=PANI KNABNAMQAJPHU PDAJNA?KI I AJ@A@ >U PDA$=HEBKNJE=
4P=PA8 =PAN3AOKQN?AO$KJPNKH#K=N@WOX" ( QE@ABKN1NER=PA=J@ %KI AOPE? 8 AHH0 SJANO,u
0
`llh8--oYl]j,]hY,_gn-lqh]-\jafc-hok-keYddkqkl]ek-ZYka[af^gjeYlagf,[^e
4
(E6KJ6G;E
tDjYqoYl]ju ak oYl]j d]^l gn]j Y^l]j ]n]jq \Yq oYk`af_ Yf\ [d]Yfaf_ Y[lanala]k km[` Yk `Yf\
oYk`af_ \ak`]k* k`go]jk* Yf\ [dgl`]k oYk`af_ &mkaf_ Zag\]_jY\YZd] kgYhk', Fl \g]k fgl
[gflYaf oYkl]oYl]j ^jge lgad]lk, Q`] mk] g^ [TZXLHZLK _jYqoYl]j ak Z][geaf_ egj] [geegf
Yf\ al ak _]f]jYddq kY^] lg mk] al ^gj oYl]jaf_ Y _Yj\]f, 9Y`O_O[# ]RO =Y\ 2XQOVO\ 4Y^X]b
5OZK[]WOX] YP A^LVSM 9OKV]R [OMYWWOXN\ VSWS]SXQ '$&%#!&#" Q[Kb`K]O[ ^\O ]Y PVY`O[\
KXN Y]RO[ ZVKX]\ ]RK] bY^ NY XY] ZVKX ]Y OK]% BXLHZLK _jYqoYl]j 1 ak Yfgl`]j lqh] g^ oYl]j
l`Yl [Yf Z] mk]\ gf Yfq lqh] g^ hdYfl &]\aZd] gj fgl',
F^ qgm hdYf lg mk] _jYqoYl]j* al ak aehgjlYfl lg mk] l`] oYl]j Yl l`] ZYk] g^ l`] hdYfl gj Z]dgo
emd[`* jYl`]j l`Yf khjYqaf_ l`] oYl]j gf lgh g^ qgmj hdYflk, Q`ak `]dhk j]\m[] l`] [`Yf[] g^
`Yje^md hYjla[d]k ]f\af_ mh af l`] Yaj, Qg d]Yjf egj] YZgml _jYqoYl]j* nakal8
`llh8--_j]qoYl]jY[lagf,gj_-_j]qoYl]j+^YiFfklYddaf_ Y kqkl]e lg [Yhlmj] Yf\ mk] _jYqoYl]j eYq `]dh kYn] gf oYl]j [gklk Yf\ j]\m[]
qgmj gn]jYdd oYl]j mkY_], F^ qgm hdYf lg afklYdd Y hah]\ _jYqoYl]j kqkl]e* qgm k`gmd\ [`][c
oal` qgmj dg[Yd bmjak\a[lagf ^gj Y\\alagfYd h]jeal gj Zmad\af_ j]imaj]e]flk, F^ qgm ogmd\ dac]
egj] af^gjeYlagf YZgml _jYqoYl]j kqkl]ek* hd]Yk] [gflY[l l`] Igk >f_]d]k @gmflq
A]hYjle]fl g^ MmZda[ E]Ydl` Yl &404' 21.+307. gj
`llh8--ooo,dYhmZda[`]Ydl`,gj_-]`-BM-[jgkkX[gf-[jgkkX[gfXeYaf,`le
16?BJ6G;E
OYafoYl]j [Yf Z] mk]\ af qgmj _Yj\]f* Zml l`] oYl]j emkl Z] [Yj]^mddq [gdd][l]\ Yf\ klgj]\,
Cgj ]pYehd]* oYl]j [gdd][l]\ ^jge jgg^k eYq Z][ge] [gflYeafYl]\ ^jge hYjla[d]k gf l`]
jgg^ alk]d^* dac] YkZ]klgk Yf\ d]Y\, JY^ WKb `KX] ]Y MYX\SNO[ ]O\]SXQ `K]O[ SP S] RK\
KV[OKNb LOOX MYVVOM]ON KXN \]Y[ON YX \S]O Y[ SP bY^ K[O MYVVOM]SXQ ]RO `K]O[ YPP YP K
\][^M]^[O%
Fl ak aehgjlYfl lg klgj] [gdd][l]\ oYl]j af Y egkimalg+hjgg^ lYfc Yf\ Ynga\ \aj][l [gflY[l oal`
l`] oYl]j &],_,* \g fgl lgm[`* af_]kl* gj khjYq l`] oYl]j', Iac] _jYqoYl]j* al ak aehgjlYfl lg
mk] l`] oYl]j Yl l`] ZYk] g^ l`] hdYfl gj Z]dgo emd[`* jYl`]j l`Yf khjYqaf_ l`] oYl]j gf lgh
g^ qgmj hdYflk,
Q`] ZYka[ j]imaj]e]flk o`]f mkaf_ jYaf ZYjj]dk af Y _jYnalq ^dgo kqkl]e Yj]8
"
"
"
"
1
Jmkl `Yn] Y k[j]]f]\ af^dgo gh]faf_* kha_gl* Yf\ `gk] ZaZ
IYZ]d]\ tfgf+hglYZd]u
Ag fgl khjYq oYl]j
Ag fgl `ggc mh lg hglYZd] &\jafcaf_' oYl]j kqkl]ek
Qj]Yl]\ _jYqoYl]j ak \]^af]\ af l`] @Yda^gjfaY MdmeZaf_ @g\]* @`Yhl]j /4* P][lagf /4.2,/,
5
"
FfklYdd Y[[gj\af_ lg l`] eYfm^Y[lmj]jsk afkljm[lagfk
Qg d]Yjf egj] YZgml j][q[d]\ oYl]j* nakal8 `llhk8--ooo,oYl]j]mk],gj_Q`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` `Yk _ma\]daf]k ZYk]\ gf l`] lqh] g^
gf+kal] [gdd][lagf g^ jYafoYl]j, Cgj egj] \]lYad* hd]Yk] j]na]o l`] @gmflqsk _ma\]daf]k8
`llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-\g[k-]hX[jgkkX[gfXOYafoYl]jJYljap,h\^
F^ qgm Yj] hdYffaf_ lg afklYdd Y dYj_]j kqkl]e lg [gdd][l oYl]j* hd]Yk] [gflY[l l`] Igk >f_]d]k
@gmflq A]hYjle]fl g^ MmZda[ E]Ydl` Yl &404' 21.+307. Yf\ j]na]o j]imaj]e]flk Yl
`llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-\g[k-]hX[jgkkX[gfX[akl]jf,h\^
1;8K8@;9 56G;E
O][q[d]\ oYl]j ak fgf+hglYZd] &fgl ^gj \jafcaf_' oYl]j l`Yl `Yk Z]]f lj]Yl]\ 2 ]fgm_` ^gj
kh][a^a[ mk]k, O][q[d]\ oYl]j l`Yl ak mk]\ ^gj oYl]jaf_ dYf\k[Yhaf_ ak [Yjja]\ af da_`l hmjhd]
hah]k Yf\ ak lqha[Yddq Y[[gehYfa]\ Zq Y ka_f l`Yl kYqk tO][q[d]\ TYl]j + Ag Kgl Ajafc,u
ERO =Y\ 2XQOVO\ 4Y^X]b 5OZK[]WOX] YP A^LVSM 9OKV]R [OMYWWOXN\ VSWS]SXQ [OMbMVON
`K]O[ ^\O ]Y PVY`O[\ KXN Y]RO[ ZVKX]\ ]RK] bY^ NY XY] ZVKX ]Y OK]% F^ qgmj j][q[d]\ oYl]j
`Yk Z]]f lj]Yl]\ ]fgm_` lg Z][ge] hglYZd] &\jafcYZd]'* o`a[` e]Yfk al e]]lk ^]\]jYd
klYf\Yj\k* qgm [Yf mk] al gf ]\aZd] hdYflk, Ego]n]j* egkl thmjhd] hah]u j][q[d]\ oYl]j
\g]k fgl e]]l l`]k] klYf\Yj\k, ;P bY^ `Y^VN VSUO ]Y ^\O ]RO [OMbMVON `K]O[ YX ONSLVO
ZVKX]\# `O [OMYWWOXN VYYUSXQ P^[]RO[ SX]Y ]RO ]bZO YP [OMbMVON `K]O[ bY^ RK_O%
4PYPTMLJZLK ZLXZPHX_ XLJ_JRLK ]HZLX [Yf Z] mk]\ gf ]\aZd] [jghk* Zml eYfq gl`]j lqh]k &l`Yl
`Yn] Z]]f lj]Yl]\ Yl \a^^]j]fl d]n]dk' [Yffgl Z] mk]\ gf ]\aZd] hdYflk, Q`ak nakmYd hjgna\]\
Zq l`] PYf Aa]_g @gmflq TYl]j >ml`gjalq eYq `]dh qgm lg \][a\]8
`llh8--ooo,k\[oY,gj_-kal]k-\]^Ymdl-^ad]k-^ad]k-oYl]j+eYfY_]e]fl-j][q[d]\-mk]k+g^+
j][q[d]\+oYl]j+f]o,h\^
Q`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` `Yk kh][a^a[ j]imaj]e]flk Yf\
_ma\Yf[] ^gj afklYddaf_ j][q[d]\ oYl]j kqkl]ek* YnYadYZd] Yl8
`llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-\g[k-]hX[jgkkX[gfXj][q[d],h\^
F^ qgm ogmd\ dac] egj] af^gjeYlagf YZgml j][q[d]\ oYl]j* hd]Yk] [gflY[l l`] Igk >f_]d]k
@gmflq A]hYjle]fl g^ MmZda[ E]Ydl` Yl &404' 21.+307. gj
`llh8--ooo,hmZda[`]Ydl`,dY[gmflq,_gn-]`-BM-[jgkkX[gf-[jgkkX[gfXj][q[d],`le
2
O][q[d]\ oYl]j ak lj]Yl]\ lg l`] klYf\Yj\k gmldaf]\ af l`] @Yda^gjfaY E]Ydl` Yf\ PY^]lq @g\] &Qald] 00 g^ l`] @Yda^gjfaY @g\] g^
O]_mdYlagfk', Jgj] af^gjeYlagf ak YnYadYZd] `]j]8
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-\jafcaf_XoYl]j-[]jlda[-\jafcaf_oYl]j-IYoZggc,k`led
6
)CJ GC G;FG KCHE J6G;E
(% 4YX]KM] ]RO =Y\ 2XQOVO\ 4Y^X]b 5OZK[]WOX] YP A^LVSM 9OKV]R
?]^gj] l]klaf_* [gfka\]j \ak[mkkaf_ qgmj oYl]j l]klaf_ f]]\k oal` l`] Igk >f_]d]k @gmflq
A]hYjle]fl g^ MmZda[ E]Ydl`, PlY^^ eYq Z] YZd] lg Ykkakl qgm af ^mjl`]j \][a\af_ o`]l`]j
l]klaf_ ak f]]\]\, TYl]j imYdalq l]klaf_ calk Yj] g^l]f YnYadYZd] Yl `Yj\oYj] klgj]k Yf\ eYq
Z] mk]\ lg `]dh fYjjgo [gf[]jfk, Ego]n]j* Y dYZgjYlgjq l]kl oadd Z] em[` egj] Y[[mjYl],
@gflY[l l`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` Yl &404' 21.+320. gj
`llh8--ooo,hmZda[`]Ydl`,dY[gmflq,_gn-]`-]h-\o-\oXeYaf,`le
)% DOVOM] K VKL ]Y ]O\]
Q`] @Yda^gjfaY Bfnajgfe]flYd Mjgl][lagf >_]f[q PlYl] TYl]j O]kgmj[]k @gfljgd ?gYj\
hjgna\]k Y dakl g^ dYZk l`Yl [Yf l]kl qgmj oYl]j* YnYadYZd] Yl8
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-\jafcaf_XoYl]j-[]jlda[-dYZk-\g[me]flk-]dYhX[]jlX\jafcaf
_XoYl]jXdYZ,h\^
*% B^O\]SYX\ ]Y K\U ]RO VKL
I]l l`] dYZ cfgo qgmj afl]f\]\ mk] oal` l`] oYl]j Yf\ Ykc ^gj Y ojall]f ]klaeYl] g^ l`] [gkl,
QYZd] / Z]dgo daklk l`] lqha[Yd [`]ea[Ydk Yf\ Zagdg_a[Ydk l`Yl k`gmd\ Z] l]kl]\ ^gj \jafcaf_
oYl]j,
+% ;X]O[Z[O] ]RO [O\^V]\
T`]f qgm _]l l`] j]kmdlk ZY[c ^jge l`] dYZ* l`] d]n]dk k`gmd\ Z] Z]dgo l`] eYpaeme d]n]dk
dakl]\ af QYZd] / &Z]dgo', Q`] eYpaeme [gflYeafYfl d]n]d ak l`] `a_`]kl d]n]d l`Yl ak kY^] ^gj
`meYf [gfkmehlagfwYfq `a_`]j Yf\ l`] oYl]j ak fgl kY^] lg \jafc, Fl eYq fgl Z] f][]kkYjq
lg e]]l Ydd g^ l`] d]n]dk ^gj \jafcaf_ oYl]j lg ajja_Yl] ]\aZd] hdYflk, F^ qgmj j]kmdlk Yj]
Zgj\]jdaf]* hd]Yk] [gflY[l l`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` lg \ak[mkk Yl
0/1+516+100.* lgp=h`,dY[gmflq,_gn* gj
`llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-QB>-Qgpa[Bha-af\]pXQgpa[kBha,`le
7
EKLVO (0 >KaSW^W =O_OV\ YP ;XY[QKXSM 4ROWSMKV\ KXN 3SYVYQSMKV\ SX 5[SXUSXQ HK]O[ ,
4ROWSMKV
>KaSW^W 4YX]KWSXKX]
=O_OV# WQ&=
>dmeafme
>flaegfq
>jk]fa[
>kZ]klgk
?Yjame
?]jqddame
@Y\eame
@`jgeame
@qYfa\]
Cdmgja\]
J]j[mjq
Ka[c]d
KaljYl] &Yk KL1'
KaljYl] ) Kaljal] &kme Yk faljg_]f'
Kaljal] &Yk faljg_]f'
M]j[`dgjYl]
P]d]fame
Q`Yddame
/
.,..4
.,.3
5 JCI(
/
.,..2
.,..3
.,.3
.,/3
0,.
.,..0
.,/
23
/.
/
.,..4
.,.3
.,..0
>SM[YLSYVYQSMKV
>KaSW^W 4YX]KWSXKX] =O_OV# WQ&=
QglYd @gda^gjek
@jqhlgkhgja\ame
DaYj\aY dYeZdaY
W]jg
W]jg
W]jg
Cgj egj] af^gjeYlagf YZgml dYZk l`Yl l]kl oYl]j* nakal l`] @Yda^gjfaY Bfnajgfe]flYd Mjgl][lagf
>_]f[q + PlYl] TYl]j O]kgmj[]k @gfljgd ?gYj\ o]Zkal]8
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-_YeY-\ge]kla[Xo]ddkXl]klaf_,k`led
3
O]^]j]f[]8 JYpaeme @gflYeafYfl I]n]dk g^ Ffgj_Yfa[ @`]ea[Ydk QYc]f ^jge @Yda^gjfaY @g\] g^ O]_mdYlagfk &@@O' Qald] 00*
PY^] Ajafcaf_ TYl]j PlYf\Yj\k
/.
5>6G F>CH@9 KCH 9C ?< KCHE J6G;E ?F 8CBG6A?B6G;9!
;P ]O\]\ \RY` ]RK] bY^[ `K]O[ S\ MYX]KWSXK]ON# S] WKb LO LO\] ]Y PSXN KXY]RO[ VYMK]SYX ]Y
QK[NOX Y[ KXY]RO[ \Y^[MO YP `K]O[% Ff l`] [Yk] g^ jYafoYl]j Yf\ _jYqoYl]j* al eYq Z]
hgkkaZd] lg ^adl]j gj \akaf^][l ^gj Yfq Zagdg_a[Yd [gflYeafYl]k, @gklk lg lj]Yl oYl]j nYjq* Yf\
[Yf Z] ]ph]fkan], F^ qgm Yj] afl]j]kl]\ af lj]Ylaf_ [gflYeafYl]\ oYl]j* hd]Yk] [gflY[l l`]
Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` Yl &404' 21.+320. gj
`llh8--ooo,hmZda[`]Ydl`,dY[gmflq,_gn-]`-]h-\o-\oXeYaf,`le
Ff Y\\alagf* [gfka\]j j]na]oaf_ l`] @Yda^gjfaY PlYl] TYl]j O]kgmj[]k @gfljgd ?gYj\sk t>
Dma\] ^gj MjanYl] Yf\ Age]kla[ T]dd Lof]jku ^gj Y\\alagfYd af^gjeYlagf gf oYl]j imYdalq
l]klk* Yf\ hgkkaZd] oYqk lg lj]Yl l`] oYl]j Yl
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-oYl]jXakkm]k-hjg_jYek-_YeY-\g[k-o]ddgof]jX_ma\],h\^
&hY_]k 6+/.',
//
2/*,
> kY^] _Yj\]f emkl `Yn] kY^] kgad,
Pgad eYq [gflYaf `a_` d]n]dk g^ d]Y\ gj gl`]j
e]lYdk Yf\ l`]k] [gmd\ ]f\ mh af gj gf l`] ^gg\
_jgof af qgmj _Yj\]f, Q`]j] Yj] log oYqk qgm
[gmd\ [ge] aflg [gflY[l oal` [gflYeafYflk8
(% 3b NS[OM]Vb SXQO\]SXQ !\`KVVY`SXQ Y[
SXRKVSXQ" MYX]KWSXK]ON \YSV%
Ff_]klaf_ kgad oal` ]d]nYl]\ d]n]dk g^ `]Ynq
e]lYdk ak ]RO WY\] [S\Ub KXN VSUOVb OaZY\^[O%
@`ad\j]f Yj] egj] Yl jakc Z][Ymk] l`]q eYq
koYddgo kgad Zq hmllaf_ kgad]\ ^af_]jk af l`]aj
egml`k gj af`Ydaf_ kgad hYjla[d]k d]^l Z]`af\ gf
[Yjh]l ^jge \ajlq k`g]k, Ll`]j nmdf]jYZd]
hghmdYlagfk km[` Yk k]fagjk gj h]ghd] oal` o]Yc
aeemf] kqkl]ek eYq Ydkg Z] Yl jakc,
)% 3b OK]SXQ Z[YN^MO Q[Y`X SX \^MR \YSV%
MdYflk _jgof af [gflYeafYl]\ kgad [Yf Ydkg YZkgjZ l`] [gflYeafYflk* ]phgkaf_ qgm lg jakc
o`]f qgm ]Yl l`] hdYfl, 9Y`O_O[# SX WY\] MK\O\# ]RS\ [S\U S\ VY`, ?q ^gddgoaf_ l`]
_ma\]daf]k af l`] ?]kl MjY[la[]k JYfY_]e]fl k][lagf gf hY_] 02* qgm [Yf hjgl][l qgmjk]d^
Yf\ qgmj ^Yeadq ^jge [gflYeafYflk l`Yl [gmd\ Z] hj]k]fl af gj gf qgmj ^gg\,
O]Y\ gf lg ^af\ gml o`]l`]j qgm f]]\ lg l]kl qgmj kgad* `go lg l]kl qgmj kgad* Yf\ `go lg
Ye]f\ &\g kge]l`af_ lg aehjgn]' qgmj kgad \]h]f\af_ gf l]kl j]kmdlk, Cgj Y egj] \]lYad]\
_ma\] gf kgad l]klaf_* hd]Yk] k]]8 tPgadk af RjZYf >_ja[mdlmj]8 Q]klaf_* O]e]\aYlagf* Yf\ ?]kl
JYfY_]e]fl MjY[la[]k ^gj @Yda^gjfaY @geemfalq DYj\]fk* P[`ggd DYj\]fk* Yf\ RjZYf
CYjek*u Zq OY[`]d Pmjdk* SYd]ja] ?gj]d* Yf\ >f\j] ?ak[Yjg Yl
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-^ad]k-/750.5,h\^
/0
' KCH & +' G;FG KCHE FC?@!
%ALAJ@EJC KJPDAHK?=PEKJKBUKQNC=N@AJ=J@ SD=PWO =NKQJ@ EP UKQNOKEHI =U >A=P=DECDAN
KNHKSANNEOG 5DEO OA?PEKJSEHHDAHLUKQ @APANI EJADKS ?NEPE?=HEPEOPK PAOPUKQNOKEH
(% ! ==9 /?=B<2 F=B?@7A3 /<2 >?=>3?A73@XOK[Lb
9 0 =>30 =4>0 .9 8>,48 9 <4=4>80 ,<0
"
"
"
"
"
"
"
"
5N=ODKN=>=J@KJA@ ?KJOPNQ?PEKJ
I =PANE=H
L=EJP?=JO HQI >AN
AHA?PNKJE?O SKK@ <
)KI AO KN>QEH@EJCO >QEHP>ABKNA SEPDKH@ KNLAAHEJC L=EJP<
> BNAAS=U KNDA=REHU ljYn]d]\ NK=@
&SEPDEJ BAAl'
l'<
%A=@ OLKPOKJOEPASDANAJKPDEJC EO
_jgoaf_<
%EO?KHKNA@ OKEH
4PNKJC KNBKQHOI AHHO<
8 =OPAS=PAN@EO?D=NCA LEPO KNLKJ@O<
& RE@AJ?AKB>QNEA@ LELAO KNP=JG O<
5DA4P=PAKB$=HEBKNJE=WO%AL=NPI AJPKB
5KTE? 4Q>OP=J?AO$KJPNKH
%54$ D=O
=LQ>HE? SA>OEPAPD=PLNKRE@AO
EJBKNI =PEKJKJLANI EPPA@ D=V=N@KQO
S=OPAB=?EHEPEAO : KQ ?=JAJPANUKQN
LNKLKOA@ OEPAWO =@@NAOOEJPK PDA
& JRENK4PKN%=P=. =J=CAI AJP4UOPAI
=P
`llh8--ooo,]fnajgklgj,\lk[,[Y,_gn-hm
Zda[- PK OAASDAPDANUKQNOEPAEO?HKOA
PK =D=V=N@KQO S=OPAOEPA
*BUKQNOEPA=LLA=NOPKD=RAHT_ KBPDA=>KRA EPEO NA?KI I AJ@A@ PD=PUKQ PAOPUKQNOKEH *B
JKJAKBPDA=>KRA=LLHEAO PKUKQ ?KJPEJQANA=@EJC BQNPDANPK =OOAOO UKQNOEPA
)% 75B?3 =BA6=D F=B?@7A3 6/@0 33<B@32 7<A63 >/@A
: KQNOEPAEO JKP=>H=JG ?=JR=O . KOPLH=?AO EJ=?EPU D=RA>AAJQOA@ EJ=PHA=OP PK
@EBBANAJPS=UOKRANPDAUA=NO, Rf\]jklYf\af_ l`]k] LNEKNQOAO SEHHDAHLUKQ @A?E@ADKS
aeLKNP=JPEPEOPKPAOPPDAOKEH ' KNAT=I LHA
ae
"
"
8 =O PDAOEPALNAREKQOHU QOA@ BKNDA=RU af\mkljq C=O OP=PEKJk =CNE?QHPQNA KN
eYfm^Y[lmjaf_ *Bkg* al EO RANU HEG AHU PD=PPDAOKEHD=O `a_` HARAHO KBDA=RU I AP=HO,
*O PDAOEPAEJ=JKH@ L=NPKBPDA?EPU SEPD@AJOAHU L=?G A@ >QEH@EJCO *BOK EPI =U =HOK
D=RADECDAN?KJ?AJPN=PEKJO KBHA=@ =J@ I AP=HOEJPDAOKEH, *JAEPDANKBPDAOA[Yk]k* EPEO
aehgjlYfl PKPAOPPDAOKEH,
5=HG PKPDALNKLANPU KSJANKNJAECD>KNO =>KQPL=OPQOAO *BUKQNOEPAEOR=?=JP BEJ@ KQPBKN
DKS HKJC =J@ SD=PS=OD=LLAJEJC KJPDALNKLANPU Z]^gj], ' KNAT=I LHA =OG SD=POPNQ?PQNAO
SANAKJPDAOEPA DKS PDAU SANAQOA@ =J@ PDAUA=NPDKOAOPNQ?PQNAOSANA>QEHP : KQNHK?=H
bmjak\a[lagfsk hH=JJEJC @AL=NPI AJP=J@ HE>N=NU I =U >A=>HAPKDAHLUKQ QJ@ANOP=J@ PDAOEPAWO
hjagj QOAO =J@ I =U D=RAKH@ LDKPKCN=LDOgj
gj eYhk,
/1
*% 5OMSNO XOa] \]OZ\%
Rk] l`] ^dgo [`Yjl Z]dgo lg `]dh qgm eYc] qgmj ^afYd \][akagf,
>, F^ qgm Yfko]j]\ fg lg Ydd g^
l`] im]klagfk af fmeZ]jk / Yf\ 0
YZgn]* qgm hjgZYZdq \g fgl f]]\
lg Z] [gf[]jf]\ YZgml mfkY^]
kgad, Ego]n]j* a^ Y dYj_] fmeZ]j
g^ h]ghd] oadd Z] kh]f\af_ lae]
af l`] _Yj\]f &],_,* Y [geemfalq
_Yj\]f'* l`] Igk >f_]d]k @gmflq
A]hYjle]fl g^ MmZda[ E]Ydl`
j][gee]f\k l]klaf_, O]na]o l`]
f]pl k][lagf ^gj \]lYadk,
?, F^ qgm Yfko]j]\ q]k lg Yfq
g^ l`] im]klagfk af fmeZ]jk / Yf\
0 YZgn]* l`] Igk >f_]d]k @gmflq
A]hYjle]fl g^ MmZda[ E]Ydl`
j][gee]f\k l]klaf_, O]na]o l`]
f]pl k][lagf ^gj \]lYadk,
@, F^ qgm Yfko]j]\ q]k lg Yfq
g^ l`] im]klagfk YZgn] af
fmeZ]jk / Yf\ 0 YZgn]* L^] bY^
MKXXY] Y[ MRYY\O XY] ]Y ]O\]
bY^[ \YSV* l`] Igk >f_]d]k
@gmflq A]hYjle]fl g^ MmZda[
E]Ydl` j][gee]f\k hdYflaf_ af
jYak]\ Z]\k* Yf\ aehgjlaf_
[d]Yf* `]Ydl`q kgad lg _jgo qgmj
hdYflk, O]na]o l`] tPgad
Qj]Yle]flk Y^l]j Q]klaf_u Yf\
t?]kl MjY[la[]k JYfY_]e]flu
k][lagfk ^gj \]lYadk,
/2
)CJ GC G;FG KCHE FC?@
(% 5O]O[WSXO bY^[ MYX]KWSXKX]\ YP MYXMO[X%
Rkaf_ QYZd] 0* ^a_mj] gml l`] [gflYeafYflk l`Yl oadd egkl aehY[l qgmj kal], Cgj ]pYehd]* a^
qgmj kal] oYk hj]nagmkdq Y hYjc* qgm eYq oYfl lg l]kl ^gj YkZ]klgk Yf\ d]Y\,
EKLVO )0 4YX]KWSXKX]\ YP 4YXMO[X LK\ON YX A[O_SY^\&4^[[OX]&A[YaSWK]O F\O\
A[O_SY^\ F\O
4YX]KWSXKX]\ YP 4YXMO[X
CO\SNOX]SKV v af[dm\af_ hYjck*
nY[Yfl dglk
>kZ]klgk* I]Y\
4YWWO[MSKV v Y_ja[mdlmj]* _Yk
klYlagfk* \jq [d]Yf]jk* j]lYad
]klYZdak`e]flk* Ymlg+Zg\q k`ghk
M]kla[a\]k* e]lYdk* h]ljgd]me hjg\m[lk*
kgdn]flk
9OK_SVb ;XN^\][SKV v e]lYd
hdYlaf_* eYfm^Y[lmjaf_
Mgdq[q[da[ YjgeYla[ `q\jg[YjZgfk* Z]fr]f]*
lgdm]f]* pqd]f]* ]l`qd Z]fr]f]* SgdYlad] Yf\
P]ea+ngdYlad] gj_Yfa[ [gehgmf\k &SL@k Yf\
PSL@k' * e]lYdk* h]ljgd]me hjg\m[lk Yf\
[gfklalm]flk* M@?k* Aagpafk
)% DOVOM] K VKL ]Y ]O\] bY^[ \YSV%
Pgad l]kl calk kgd\ Yl _Yj\]f klgj]k Yj] fgl j][gee]f\]\ ^gj l`ak caf\ g^ l]klaf_ Z][Ymk] l`]q
[Yffgl l]kl ^gj eYfq [gflYeafYflk gj `]Ynq e]lYdk, Ffkl]Y\* mk] Y dYZ lg l]kl qgmj kgad, P]d][l
qgmj dYZ Z]^gj] [gdd][laf_ kgad kYehd]k Z][Ymk] ]Y[` dYZ oadd `Yn] kh][a^a[ l]klaf_
_ma\]daf]k, Q`] [gkl g^ l]klaf_ oadd \]h]f\ mhgf l`] kar] g^ qgmj _Yj\]f* l`] fmeZ]j g^ kgad
kYehd]k f]]\]\* Yf\ l`] lqh] g^ YfYdqkak [gf\m[l]\ Zq l`] dYZ, Cgj Y ZYka[ kgad l]kl o`a[`
af[dm\]k fmlja]flk* hE* Yf\ d]Y\* Y kgad l]kl [Yf [gkl Yk dalld] Yk #/., T`ad] Y kaf_d] kgad l]kl
eYq Z] ]fgm_` ^gj Y keYdd ZY[cqYj\ n]_]lYZd] _Yj\]f* egj] kYehd]k* Yf\ hgkkaZdq egj]
YfYdqkak* oadd Z] f]]\]\ ^gj dYj_]j khY[]k, Pgad l]klaf_ ^gj keYdd Yf\ e]\ame+kar]\
[geemfalq _Yj\]fk* o`]j] l`] kal] `Yk fg mfmkmYd ^]Ylmj]k Yf\ fg hYkl mk]k g^ [gf[]jf*
k`gmd\ [gkl YhhjgpaeYl]dq #0.. lg #3.., F^ l`]j] Yj] eYfq akkm]k g^ [gf[]jf* l`]j] ak Y
[`Yf[] l`] [gkl g^ qgmj kgad l]kl oadd af[j]Yk]* kg Z] kmj] lg \ak[mkk l`ak oal` l`] dYZ, P]]
QYZd] 1 ^gj Y dakl g^ dYZk* Yf\ QYZd] 2 ^gj dakl g^ im]klagfk lg Ykc l`] dYZ, Vgm oadd j]dq gf l`]
dYZ lg `]dh afl]jhj]l l`] j]kmdlk g^ l`] l]kl* kg al ak aehgjlYfl lg Ykc o`]l`]j l`]q oadd Ykkakl
qgm,
/3
EKLVO *0 =S\] YP DYSV$]O\]SXQ =KL\
Q`] ^gddgoaf_ dakl ak ^gj j]^]j]f[]9 Igk >f_]d]k @gmflq \g]k fgl ]f\gjk] Yfq hYjla[mdYj
dYZgjYlgjq,
TYddY[] IYZgjYlgja]k &>_ja[mdlmj]* Pgad* TYl]j*
MdYflk'
143 @gjYd @aj[d]* Bd P]_mf\g* @> 7.023
1/.+4/3+.//4
`llh8--ooo,Z]ll]jkgadk,[ge
af^g=odYZk,[ge
QaeZ]jd]Y^ Pgad Q]klaf_ &@jghk* Pgad'
17426 Ld\ Phjaf_ O\,* Jmjja]lY* @> 70341
73/+455+53/.
`llh8--ooo,laeZ]jd]Y^kgadl]klaf_,[geleZjd^kgadl]kl=n]jargf,f]l
Pgad % MdYfl IYZgjYlgjq &Pgad* MdYflk* @jghk*
Egjla[mdlmj]'
25/2 B, Emfl]j >n],* >fY`]ae* @> 706.5
5/2+060+6555
`llh8--ooo,kgadYf\hdYfldYZgjYlgjq,[ge
kgadYZ=kgadYf\hdYfldYZgjYlgjq,[ge
ReYkk Pgad % MdYfl Q]klaf_ v kgad ^]jladalq
460 Kgjl` Md]YkYfl Plj]]l* >e`]jkl* J>
2/1+323+01//
`llh8--kgadl]kl,meYkk,]\mkgadl]kl=meYkk,]\m
UOC O]k]Yj[`* Ff[, &Bd]e]flYd >fYdqkak'
770/ @Yje]d JgmflYaf O\, "104* PYf Aa]_g* @>
70/07
6..+4/1+4.42
`llh8--ooo,pj^j]k]Yj[`,[ge
af^g=pj^j]k]Yj[`,[ge
@gjf]dd Kmlja]fl >fYdqkak IYZgjYlgjq
&Bfnajgfe]flYd* ?agdg_a[Ydk* Pgad'
6.2 ?jY\^a]d\ EYdd* @gjf]dd Rfan]jkalq* Fl`Y[Y* KV
/2631
4.5+033+232.
`llh8--[fYd,[Ydk,[gjf]dd,]\m
kgadl]kl=[gjf]dd,]\m
J>@P IYZ* Ff[, &JYl]jaYdk >fYdqkak'
21/ @jgof Mgafl @aj[d]* Pl], /0.* DjYkk SYdd]q*
@> 73723
6..+400+5300
`llh8--ooo,eY[kdYZ,[geaf^g=eY[kdYZ,[ge
>_ja[mdlmjYd >fYdqla[Yd P]jna[]k IYZgjYlgjq &Pgad
C]jladalq* Bfnajgfe]flYd'
M]ff PlYl] Rfan]jkalq* Rfan]jkalq MYjc* M> /46.0
6/2+641+.62/
`llh8--ooo,YYkd,hkm,]\m-A]^Ymdl,`le
YYkdYZ=hkm,]\m
@IP IYZk &Pgad* TYl]j* Bfnajgfe]flYd'
1027 Calr_]jYd\ OgY\* OYf[`g @gj\gnY* @> 73520
6..+416+51./
`llh8--ooo,[Yda^gjfaYdYZ,[geaf^g=[Yda^gjfaYdYZ,[ge
@AC> @]fl]j ^gj >fYdqla[Yd @`]eakljq
/47 BYkl IaZ]jlq >n]* >fY`]ae* @> 706./
5/2+46.+57./
Pgad % MdYfl IYZgjYlgjq &Pgad* MdYflk* @jghk*
Egjla[mdlmj]'
//./ P, Taf[`]kl]j ?dn\,* Pl], D+/51* PYf Ggk]*
@> 73/06
2.6+505+.11.
`llh8--ooo,kgadYf\hdYfldYZgjYlgjq,[ge
kgadYZ=kgadYf\hdYfldYZgjYlgjq,[ge
@Ydk[a]f[]
522. Iaf[gdf TYq* DYj\]f Djgn]* @> 7062/
5/2+673+3272
T][c IYZgjYlgja]k* Ff[,
/2637 BYkl @dYjc >n]* Ff\mkljq* @> 7/523
404+114+0/17
Igk >f_]d]k @gmflq >_ja[mdlmjYd
@geeakkagf]j-T]a_`lk Yf\ J]Ykmj]k &hjaeYjadq
ogjck oal` gl`]j _gn]jfe]fl Y_]f[a]k'
Bfnajgfe]flYd Qgpa[gdg_q IYZgjYlgjq
//./0 Pgml` DYj^a]d\ >n]* Pgml` DYl] @> 7.06.
340+400+.215
`llh8--Y[oe,dY[gmflq,_gn-ohk-hgjlYd-Y[oe-eYa
f-`ge]-Zmkaf]kk-]fnajgfe]flYdlgpa[gdg_q
lgpdYZ=Y[oe,dY[gmflq,_gn
/4
EKLVO +0 B^O\]SYX\ ]Y K\U DYSV$]O\]SXQ =KL\ 7UUK JUSS[TPJHZPUT PY ZOL QL_ ZU NLZZPTN ZOL YUPRY ZLYZY _U[ ]HTZ% ;LZ ZOL RHI QTU]0
"
"
"
"
>\\j]kk Yf\ dg[Ylagf g^ l`] kal],
F^ qgm cfgo* l`] `aklgja[ mk] g^ l`] kal] &Y_ja[mdlmjYd* af\mkljaYd* j]ka\]flaYd* [gee]j[aYd'
T`Yl qgm hdYf lg \g Yl l`] kal] v _jgo ^gg\ ^gj [gfkmehlagf* ^dgo]jk* [geemfalq _Yj\]f*
]l[,
>l Y eafaeme* qgm ogmd\ dac] l`] kgad l]kl]\ ^gj `]Ynq e]lYdk Yf\ gl`]j [gflYeafYflk,
o BOL CTPZLK AZHZLYb 5T\PXUTSLTZHR >XUZLJZPUT 1NLTJ_ XLJUSSLTKY ZOHZ MUX [XIHT HXLHY#
HZ H SPTPS[S# ZOL YUPR ZLYZ YOU[RK PTJR[KL V8# VLXJLTZ UXNHTPJ SHZZLX# T[ZXPLTZY#
SPJXUT[ZXPLTZY# HTK SLZHRY# PTJR[KPTN RLHK%
FU[ YOU[RK [TKLXYZHTK ZOL IHYPJ YLX\PJLY ZOL YUPRY RHI ]PRR VLXMUXS% 1YQ ZOLS0
"
"
"
"
T`Yl l]klk \g qgm j][gee]f\ ^gj eq hdYff]\ mk]<
?Yk]\ gf l`] hjagj mk]k* Yj] l`]j] Yfq gl`]j l]klk qgm j][gee]f\<
Ag qgm h]j^gje l]klk ^gj ]d]nYl]\ d]n]dk g^ `]Ynq e]lYdk Yf\ gl`]j [gflYeafYflk v af
hYjla[mdYj* l`gk] dakl]\ af l`] @Yda^gjfaY @g\] g^ O]_mdYlagfk Qald] 008 Ffgj_Yfa[ M]jkakl]fl
Yf\ ?agY[[memdYlan] Qgpa[ PmZklYf[]k<
Ag qgm hYjla[ahYl] af l`] Kgjl` >e]ja[Yf Mjg^a[a]f[q Q]klaf_ Mjg_jYe<
o BOPY VXUNXHS HYY[XLY ZOHZ YUPR ZLYZ HTHR_YLY HXL ILPTN VLXMUXSLK [YPTN \HRPKHZLK ZLYZPTN
SLZOUKY%
5HJO RHI SH_ UVLXHZL KPMMLXLTZR_% FU[ YOU[RK KLZLXSPTL ZOL YVLJPMPJ YLX\PJLY ZOL YUPRY RHI ]PRR
VLXMUXS% 1YQ ZOLS0
"
"
"
"
"
"
"
"
Ego em[` oadd al [gkl<
T`Yl ak l`] j][gee]f\]\ hjg[]\mj] ^gj lYcaf_ kgad kYehd]k<
Tadd qgm hjgna\] [gflYaf]jk lg [gdd][l l`] kgad<
o F^ fgl* o`Yl lqh] g^ [gflYaf]jk \g qgm hj]^]j ^gj [gdd][lagf<
T`Yl kar] k`gmd\ l`] kYehd] Z]< Cgj ]pYehd]* ak log &0' [mhk g^ kgad gcYq<
Fk al gcYq ^gj h]ghd] lg [Ydd l`] dYZ ^gj Y\na[] Yf\ af^gjeYlagf<
Fk Y \]k[jahlagf hjgna\]\ oal` l`] kgad l]kl j]kmdlk<
Ag qgm hjgna\] j]e]\aYlagf Yf\-gj Ye]f\e]fl j][gee]f\Ylagfk oal` l`] kgad l]klk<
T`Yl ak qgmj lmjfYjgmf\ lae]<
BOL RHI SH_ UMMLX UZOLX YLX\PJLY IL_UTK ZLYZPTN MUX JUTZHSPTHTZY ZOHZ JHT OLRV _U[ [TKLXYZHTK
_U[X YUPR OLHRZO% FU[ SH_ ]PYO ZU HYQ ZOLS0
"
T`Yl Yj] l`] [gklk Yf\ hjg[]\mj]k lg Y\\ Y l]kl ^gj kgad ^]jladalq< `]jZa[a\] l]kl<
4
O]^]j]f[]8 Rfan]jkalq g^ @Yda^gjfaY >_ja[mdlmj] Yf\ KYlmjYd O]kgmj[]k* @ggh]jYlan] Bpl]fkagf, tPgadk af RjZYf >_ja[mdlmj]8
Q]klaf_* O]e]\aYlagf Yf\ ?]kl JYfY_]e]fl MjY[la[]k ^gj @Yda^gjfaY @geemfalq DYj\]fk* P[`ggd DYj\]fk* Yf\ RjZYf CYjek,u
0./2
/5
*% >KZ ]RO \KWZVSXQ K[OK%
JYfq kal]k oadd `Yn] k]n]jYd \aklaf[l Yj]Yk l`Yl f]]\ kYehdaf_, Cgj ]pYehd]* l`]j] eYq Z]
t\]Y\u hdY[]k o`]j] hdYflk Yj] fgl _jgoaf_* \ak[gdgj]\ kgad* gj Yj]Yk [gn]j]\ oal` ljYk` gj
h]]daf_ hYafl, QYc] k]hYjYl] kgad kYehd]k ^gj ]Y[` g^ l`]k] Yj]Yk, JYcaf_ Y eYh g^ qgmj kal]
Yf\ fglaf_ Yj]Yk oal` \a^^]j]fl [`YjY[l]jakla[k oadd `]dh qgm \][a\] `go eYfq kYehd]k lg
[gdd][l, QYZd] 3 af[dm\]k \aklaf[l Yj]Yk lg dggc gml ^gj Yf\ `go lg kYehd] kgad o`]f f]Yj
l`]k] Yj]Yk,
EKLVO ,0 2[OK\ ]Y DKWZVO# 2_YSN# Y[ COWONSK]O A[SY[ ]Y AVKX]SXQ
AY]OX]SKV DY^[MO
4YX]KWSXKX]\ YP 4YXMO[X
DKWZVO 5S\]KXMO P[YW
DY^[MO
PYehd] oal`af lo]flq &0.'
^]]l g^ kgmj[]
MYafl]\ kljm[lmj]k &hj]+
/756' gj [mjj]fl af\mkljaYd
kal]k
I]Y\
Cj]]oYqk Yf\ `]Ynadq+
ljY^^a[c]\ jgY\k
I]Y\* J]lYdk* M]ljgd]me*
M>Ek* SL@k* PSL@k
PYehd] oal`af gf]+
`mf\j]\ ^]]l &/..' ^]]l g^
kgmj[]
O]ka\]flaYd Zmjf ZYjj]dk
Mgdq[q[da[ >jgeYla[
Eq\jg[YjZgfk &M>Ek'*
Aagpafk* J]lYdk
PYehd] aee]\aYl]dq
\gofoaf\
C]f[]k Yf\ gl`]j lj]Yl]\
ogg\ kljm[lmj]k
>jk]fa[* @`jgeame*
@ghh]j* Aagpafk* M>Ek*
M]flY[`dgjgh`]fgd* SL@k*
PSL@k
PYehd] oal`af ^an] &3' ^]]l
g^ l`] ^]f[] daf]
Cgkkad ^m]d Zmjfaf_ hgo]j
hdYflk* [gf[j]l] hdYflk*
ke]dl]jk* af\mkljaYd
af[af]jYlgjk* j]^af]ja]k
SgdYlad] Yf\ P]ea+ngdYlad]
gj_Yfa[ [gehgmf\k &SL@k
Yf\ PSL@k' * M>Ek* J]lYdk*
M]ljgd]me hjg\m[lk Yf\
[gfklalm]flk* M@?k* Aagpafk
PYehd] gj Ynga\ Yj]Yk
oal`af gf] &/' ead] g^
l`]k] ^Y[adala]k gj hdYf lg
eala_Yl] hgl]flaYd
]phgkmj]
Lj[`Yj\k Yf\ h]kla[a\] kal]k
>jk]fa[* I]Y\* Yf\ eYfq
nYja]la]k g^ [`dgjafYl]\ Yf\
gj_Yfgh`gkh`Yl] h]kla[a\]k
PYehd] Yj]Y g^ hgl]flaYd
Yhhda[Ylagf Yf\
aee]\aYl]dq \gofoaf\
Ll`]j kal]k km[` Yk
h]ljgd]me* \jq [d]Yfaf_*
ogg\ lj]Yle]fl* YZgn] gj
mf\]j_jgmf\ klgjY_] lYfck*
gj gd\ ljYfk^gje]jk
SgdYlad] Yf\ P]ea+ngdYlad]
gj_Yfa[ [gehgmf\k &SL@k
Yf\ PSL@k' * M>Ek* J]lYdk*
M]ljgd]me hjg\m[lk Yf\
[gfklalm]flk* M@?k
PYehd] gj Ynga\ nakaZdq
klYaf]\ Yj]Yk* kmkh][l
Yj]Yk oal` fg n]_]lYlagf*
Yf\ Yj]Yk g^ cfgof
gh]jYlagf Yf\-gj khaddk
/6
+% 3C3:=>/ @/; >:7<5>:/<
' KNA=?D@EOPEJ?P=NA= UKQ SEHHJAA@ PK ?KI >EJAOARAN=HY[IYHSVRLY PK BKNI KJAYHSVRL
6 OAUKQNI =LPK NA?KN@ DKS =J@ SDANAPDAkmZO=I LHAO=NA?KHHA?PA@ PDA\]hl` =PSDE?D
kmZkYehd]k Yj] lYc]f QOQ=HHU + EJ?DAO * =J@ PDAJQI >ANKBOQ>O=I LHAO BKNA=?D@EOPEJ?P
Yj]Y, 4AA' ECQNA ^gj =O=I LHEJC LH=JI =LSEPDOQ>O=I LHAHK?=PEKJO =J@ O=I LHA=NA=O
fgl]\,
75B?3 ( (/; >:7<5% :/<" />
/7
,% 4YVVOM] KXN Z[OZK[O bY^[ \KWZVO\,
Cgddgo l`]k] kl]hk o`]f [gdd][laf_ qgmj kYehd]k8
2% A[OZK[K]SYX
"
"
"
DYl`]j kmhhda]k8 kmalYZd] [d]Yf _dgn]k* Y [d]Yf [gdd][lagf [gflYaf]j &g^l]f hjgna\]\
Zq l`] dYZ'* Yf\ Y k`gn]d gj ljgo]d,
Mml gf _dgn]k,
JYc] kmj] fgl`af_ ak [gn]jaf_ l`] kgad &],_, d]Yn]k* _jYkk* ]l[,',
o F^ l`] kgad ak [gn]j]\* j]egn] l`ak lgh dYq]j lg ]phgk] l`] kgad,
3% 4YVVOM]SXQ \KWZVO\0
"
"
"
"
"
"
"
"
"
O]^]j lg qgmj kYehdaf_ hdYf eYh, Dg lg Y \aklaf[l Yj]Y g^ qgmj kal],
@gdd][l 3 lg 5 kmZkYehd]k &YhhjgpaeYl]dq gf] &/' [mh g^ kgad ]Y[`' ^jge \a^^]j]fl
hYjlk ]PZOPT l`] \aklaf[l Yj]Y, QYc] kYehd]k ^jge l`] lgh 2 lg 4 af[`]k g^ kgad,
Mml l`] kYehd]k aflg Y [d]Yf [gdd][lagf [gflYaf]j,
JYjc qgmj kal] Yf\ qgmj eYh af\a[Ylaf_ o`]j] qgm [gdd][l]\ ]Y[` kmZkYehd],
Jap l`] kmZkYehd]k lg_]l`]j lg ^gje gf] kYehd] ^gj l`Yl \aklaf[l Yj]Y, >l l`ak hgafl*
l`] kYehd] ^gj ]Y[` \aklaf[l Yj]Y eYq Z] 3 lg 5 [mhk ogjl` g^ kgad,
QYc] YhhjgpaeYl]dq log [mhk ^jge l`] kYehd]* Yf\ ZY_ al Y[[gj\af_ lg l`] dYZsk
afkljm[lagfk,
o F^ qgmj kgad kYehd] ak fgl [gehd]l]dq \jq* khj]Y\ l`] kgad gml gf [d]Yf oYp gj
Zml[`]j hYh]j Yf\ Yddgo al lg \jq Yl jgge l]eh]jYlmj] Z]^gj] ZY__af_ al,
o T`]f ZY__af_* ljq lg j]egn] Yk em[` Yaj ^jge l`] ZY_ Yk hgkkaZd],
O]h]Yl l`ak hjg[]kk ^gj ]Y[` \aklaf[l Yj]Y, JYc] kmj] qgmj [gdd][lagf [gflYaf]j ak
[d]Yf Z]^gj] [gdd][laf_ kYehd]k ^jge ]Y[` \aklaf[l Yj]Y, Vgm oadd `Yn] YXO \KWZVO
ZO[ NS\]SXM] K[OK, 5@ ?@E WSa \^L\KWZVO\ Y[ \KWZVO\ P[YW \OZK[K]O NS\]SXM]
K[OK\ ]YQO]RO[%
Plgj] kYehd]k af Y [ggd* \jq hdY[] Yl jgge l]eh]jYlmj],
TYk` qgmj `Yf\k l`gjgm_`dq Y^l]j [gdd][laf_ kgad,
-% 5OVS_O[ \KWZVO\ ]Y ]RO VKL%
Q`] dYZ oadd dac]dq _an] qgm [gflYaf]jk Yf\ afkljm[lagfk lg k]f\ af kYehd]k ^gj l]klaf_, Ff
_]f]jYd* ljYfk^]j ]Y[` \jq kYehd] aflg Y k]hYjYl]* [d]Yf* j]+k]YdYZd] hdYkla[ ZY_ lg eYad lg
l`] dYZ,
0.
.% ;X]O[Z[O] ]RO [O\^V]\%
Jgkl _ma\]daf]k gf Y[[]hlYZd] d]n]dk g^ [gflYeafYflk Yj] e]Yfl ^gj ]phgkmj] l`jgm_`
af_]klagf gj kcaf [gflY[l jYl`]j l`Yf _Yj\]faf_, Ego]n]j* l`]k] j]hmlYZd] _ma\]k kladd [Yf
`]dh qgm mf\]jklYf\ o`Yl jYf_]k g^ []jlYaf [`]ea[Ydk eYq Z] Y[[]hlYZd],
Q`] jYf_] g^ Y[[]hlYZd] d]n]dk \]h]f\k gf l`] kgmj[] g^ l`] af^gjeYlagf, Q`] lYZd] Z]dgo
hjgna\]k l`] jYf_] g^ eYpaeme d]n]dk Y[[]hlYZd] ZYk]\ gf l`j]] k]hYjYl] kgmj[]k8 l`]
@Yda^gjfaY EmeYf E]Ydl` P[j]]faf_ I]n]d &EEPI'* l`] Rfal]\ PlYl]k Bfnajgfe]flYd
Mjgl][lagf >_]f[qsk &BM>' Pgad P[j]]faf_ I]n]dk &PPI'* Yf\ l`] BM>sk Q][`fa[Yd O]na]o
Tgjc_jgmh,
EKLVO -0 >KaSW^W =O_OV\ ]Y 8^SNO ;X]O[Z[O]K]SYX YP DYSV EO\] CO\^V]\ .
>jk]fa[
CKXQO YP WKaSW^W VO_OV\ YP
MROWSMKV\ SX ZK[]\ ZO[ WSVVSYX !ZZW"
,.5 lg ,2
@Y\eame Yf\ [gehgmf\k
/,5 lg 5.
@`jgeame FFF
/..*... lg /0.*...
@`jgeame SF
/5 lg 01.
I]Y\ Yf\ d]\ [gehgmf\k
Ka[c]d Yf\ [gehgmf\k
6. lg /.. &dgo jakc'
;/.. lg 2.. &hgl]flaYd jakc'
2.. v /0.. &hgl]flaYd jakc ^gj [`ad\j]f'
; /0.. &`a_` jakc'
/*4..
Waf[
01*...
4ROWSMKV
Q`]k] d]n]dk Yj] Y\nakgjq gfdq9 l`] dYZ eYq Z] YZd] lg `]dh qgm afl]jhj]l qgmj j]kmdlk gj Yl
d]Ykl af\a[Yl] o`Yl k`gmd\ [gf[]jf qgm, F^ qgm `Yn] nmdf]jYZd] hghmdYlagfk mkaf_ qgmj
_Yj\]f* o] j][gee]f\ mkaf_ l`] keYdd]j fmeZ]j Yk l`] eYpaeme YddgoYZd] [gf[]fljYlagf,
F^ qgm `Yn] Yfq im]klagfk j]_Yj\af_ qgmj j]kmdlk l`Yl l`] dYZ \g]k fgl Yfko]j* hd]Yk] [gflY[l
l`] Igk >f_]d]k @gmflq A]hYjle]fl g^ MmZda[ E]Ydl` Yl 0/1+516+100.* lgp=h`,dY[gmflq,_gn*
gj `llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-QB>-Qgpa[Bha-af\]pXQgpa[kBha,`le
/% >YXS]Y[ bY^[ \YSV%
A]h]f\af_ gf o`]j] qgm Yj] _Yj\]faf_* Yf\ `go qgm Ye]f\ qgmj kgad hjagj lg hdYflaf_*
qgmj kgad eYq Z][ge] [gflYeafYl]\ af l`] ^mlmj], Fl ak aehgjlYfl lg egfalgj l`] `]Ydl` g^
qgmj kgad j]_mdYjdq, @gfka\]j j]l]klaf_ l`] kgad ]n]jq log lg ^an] q]Yjk, F^ qgm gja_afYddq
^gmf\ [gflYeafYflk g^ [gf[]jf Yf\ Yj] ljqaf_ lg d]kk]f l`] hjgZd]e* egj] ^j]im]fl l]klaf_
eYq Z] f]]\]\ lg ljY[c qgmj hjg_j]kk lgoYj\k aehjgnaf_ l`] kgad,
5
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-^ad]k-/750.5,h\^
0/
'#$3E;6GA;BGF 6<G;E 3;FG?B=
"BPANUKQ NA?AERAUKQNNAOQHPO P=HG PK PDAOKEH
H=> =>KQPJATPOPALO : KQ I =U =HOK NA=?DKQP
PK PDA-KO "JCAHAO$KQJPU %AL=NPI AJPKB
1Q>HE? )A=HPDKN6 JERANOEPU KB$=HEBKNJE=
$KKLAN=PERA& TPAJOEKJ
&`llh8--[]dgkYf_]d]k,m[Yfj,]\m-' PK @EO?QOO
JATPOPALO *BUKQNOKEHNAOQHPO?KI A>=?G
SEPD=?KJ?ANJ PDANA=NAOARAN=HLKPAJPE=H
S=UO PK DAHLOKHRAPDALNK>HAI 8
, 6/A@6=B:2 F=BB@3 A= 0 B7:2 F=B??/7@32
LON\1
3AI AI >ANPK OAHA?P?HA=J>QEH@EJC
I =PANE=HO=J@ =RKE@ NALQNLKOA@ SKK@ SEPD
KH@ L=EJPKNR=NJEOD ?NAKOKPAKNLNAOOQNA
PNA=PA@ HQI >AN KNKH@ PENAO
(% % :/<A7<?/7@32 5/?23<LON\%
" N=EOA@ C=N@AJ>A@ EO=BNAAOP=J@EJC
_Yj@AJ>A@ SEPDOKEHI KQJ@A@ =>KRAPDA
CNKQJ@ 5DAOKEHEO?KJP=EJA@ QOEJC OKI A
PULAKB>=NNEANOQ?D=OSKK@ NK?G O D=U
>=HAO AP?
O=EOA@ C=N@AJ>A@O NA@Q?APDANEOG KB
?KI EJC EJPK?KJP=?PSEPD?KJP=I EJ=JPO
SDEHAC=N@AJEJC *JKN@ANPKI EJEI EVA
?KJP=?PSEPDPDAATEOPEJC OKEH HEJAUKQN>A@O
SEPDLANI A=>HAH=J@O?=LAB=>NE? >ABKNA
=@@EJC ?HA=Jkgad, -=J@O?=LAB=>NE? =HHKSO=EN=J@ S=PANPK^dgo PDNKQCDPKPDACNKQJ@
QJHEG A>H=?G LH=OPE? 8 ANA?KI I AJ@ >QEH@EJC N=EOA@ >A@O l`Yl =NA=PHA=OP u PK Y @AAL
6 OA?HA=JOKEHPK BEHHUKQNN=EOA@ >A@O -KKG BKNLNK@Q?P?ANPEBE?=PEKJOQ?D=O 0 NC=JE?
. =PANE=HO 3AREAS *JOPEPQPA
0 . 3* BKNOKEH=J@ KPDANC=N@AJLNK@Q?PO
?KI LKOP ' KNI KNA
EJBKNI =PEKJKJDKS PK >QEH@ N=EOA@ >A@O REOEPlDA6 JERANOEPU KB$=HEBKNJE=$KKLAN=PERA
Bpl]fkagf 6 N>=J"CNE?QHPQNASA>OEPAYl8
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-CYjeXDYj\]fXA]ka_f-
)% " B:16 0 /?3 @=7: /<2 /C=72 1=<A/1A%
. QH?DEO=LNKPA?PERA?KRANEJC O=S@QOP d]Yn]k* ?KI LKOP CN=RAH KNL=LAN OLNA=@ KNHABPKJ
PDACNKQJ@ PD=P?=JDAHLNA@Q?AS=PANAR=LKN=PEKJ=J@ G AAL?KJP=I EJ=PA@ @QOPBNKI
QJ?KRANA@ OKEH^jge [geaf_ EJ@ENA?P?KJP=?PSEPDC=N@AJANO 6 OEJC I QH?DKJL=PDS=UO KN
KPDANQJ?KRANA@ OKEHHKSANO PDANEOG KB>NA=PDEJC EJKNOS=HHKSEJC ?KJP=I EJ=JPO
00
*% 2WOXN ]RO OaS\]SXQ \YSV%
F^ l`] kal] `Yk Z]]f j]ka\]flaYd gj _j]]f khY[] oal`gml Y `aklgjq g^ af\mkljaYd mk]* Zml l`] kgad
l]kl j]kmdlk Yj] [dgk] lg eYpaeme d]n]dk* al kladd eYq Z] hgkkaZd] lg _jgo af l`] ]paklaf_ kgad,
QYdc lg qgmj kgad+l]klaf_ dYZ YZgml qgmj ghlagfk, Q`] dYZ eYq j][gee]f\ l`Yl qgm lmjf qgmj
kgad \]]hdq Yf\ l`gjgm_`dq* gj d]Yn] al Z]* \]h]f\af_ gf l`] l]kl j]kmdlk,
BpYehd]k g^ j][gee]f\Ylagfk eYq af[dm\] l`] ^gddgoaf_8
"
>KSX]KSX ]RO \YSV Z9 K] Y[ MVY\O ]Y XO^][KV !-%, ]Y ."% MdYflk Yj] Z]ll]j YZd] lg
YZkgjZ kgad fmlja]flk Yf\ Yj] Ydkg d]kk dac]dq lg YZkgjZ d]Y\ Yf\ kge] gl`]j `]Ynq
e]lYdk Yl l`ak hE, Q`] hE g^ qgmj kgad k`gmd\ Z] hYjl g^ l`] kgad l]kl, A]h]f\af_ gf l`]
kgad hE* \a^^]j]fl Ye]f\e]flk oadd Z] f][]kkYjq, Ff Pgml`]jf @Yda^gjfaY* kgad ak egj]
dac]dq lg Z] YdcYdaf] oal` Y hE `a_`]j l`Yf 5, Cgj egj] af^gjeYlagf YZgml hE Yf\ `go
lg [`Yf_] al* k]]
`llh8--ooo,[d]ekgf,]\m-]pl]fkagf-`_a[-hdYflk-gl`]j-kgadk-`_a[/43.,`led
"
2NN Y[QKXSM WK]]O[# VSWO# cSXM# QbZ\^W# LSY\YVSN\# Y[ KQ[SM^V]^[KV MRK[MYKV lg
l`] kgad ]Y[` hdYflaf_ k]Ykgf \]h]f\af_ gf l`] [gflYeafYflk g^ [gf[]jf, Q`ak `]dhk
lg \adml] [gflYeafYflk Yf\ `gd\ kgad fmlja]flk, Cgj Z]kl hjY[la[]k gf eYaflYafaf_ kgad
`]Ydl`* k]] Rfan]jkalq g^ @Yda^gjfaY @ggh]jYlan] Bpl]fkagf RjZYf >_ja[mdlmj]
o]Zkal]* o`a[` af[dm\]k af^gjeYlagf gf kgad imYdalq Yf\ ^]jladalq Yl
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-Pgadk-PgadXNmYdalqXYf\XC]jladalq-
+% 7SXN KXY]RO[ \S]O%
Rf^gjlmfYl]dq* fgl Ydd hdY[]k Yj] _gg\ ^gj _Yj\]faf_, Ff kge] [Yk]k* l`] dgf_+l]je `]Ydl`
Yf\ kY^]lq [gf[]jfk gmlo]a_` l`] Z]f]^alk ^jge _Yj\]faf_ Yf\ al eYq Z] Z]kl lg ^af\ Yfgl`]j
kal],
01
#ABKNAOP=NPEJC =_Yj\]f SANA?KI I AJ@ PD=P=HHC=N@AJANO BKHHKS PDAk]
k] kl]hk8
(% 7<2 =BA/0 =BA<3/?0 F @3>A71 @F@A3; @
: KQNC=N@AJODKQH@ JKP>AHK?=PA@ JA=N=OALPE? OUOPAI " XOALPE? OUOPAI Y EO=OI =HH+O?=HA
OAS=CAPNA=PI AJPOUOPAI KJUKQNKSJLNKLANPU KBPAJQOA@ EJ=NA=OPD=P=NAJKP?KJJA?PA@ PK
I =EJOAS=CALELAHEJAO P]hla? OUOPAI OPNA=PS=OPABNKI UKQNDKI AKN>QEH@EJC KJOEPA *BUKQ
HERAEJ=NQN=H=NA= EPEOHEG AHU PD=PUKQ D=RA=OALPE? OUOPAI BRAJEBUKQ =NAEJ=?EPU PDANA
I =U >A=OALPE? OUOPAI ?HKOAPKUKQNOEPA>A?=QOAOKI APEI AOLQ>HE? OASANHEJAO =NAJKP
[dgk] AJKQCDPK?KJJA?PPK,
*9 ?7,C 3,@0 , =0 : >4. =C=>0 7 41E
" : KQ @K JKPOAA=JU I =JDKHAO ?HKOAPK UKQNOEPA 4ASAN
I =JDKHAO =NAHK?=PA@ =PNK=@S=U EJPANOA?PEKJO=J@ =HKJC PDA
?AJPANKBPDANK=@ 5DAU =NAH=>AHA@ tPBTBOu KNtPP
PPu O=JEP=NU
OASAN *BPDANA=NAI =JDKHAO EJPDAOPNAAP PDAOEPAQOAO =OASAN
OUOPAI *BUKQ @KJKPOAA=JU I =JDKHAO UKQ =NALNK>=>HU QOEJC =
OALPE? OUOPAI 5DAOALPE? OUOPAI EO PULE?=HHU ?HKOAPKPDAOPNAAP
BKN
A=OU AI LPUEJC >QP?=J>AHK?=PA@ AHOASDANA AOLA?E=HHU EBUKQN
OEPAS=O OQ>@ERE@A@ KNNA@ARAHKLA@
MdYflk ODKQH@ >ALH=JPA@ /A:3/@A 433A/D /F 4?=; / @3>A71 @F@A3; =J@
EPO HA=?DBEAH@ KNOAAL=CALEPPK =RKE@
>=?PANE=H?KJP=I EJ=PEKJ
OAALE?PQNA
KJNECDP', 6 5NAAO ODKQH@ >ALH=JPA@ =P
HA=OP BAAP=S=U PK =RKE@ @=I =CAPK
PDAOUOPAI *BUKQ D=RAMQAOPEKJO=>KQP
E@AJPEBUEJC OALPE? OUOPAI O KNSD=PPK
@K EBUKQ =NAJA=N=OALPE? OUOPAI LHA=OA?KJP=?PPDA-KO "JCAHAO
$KQJPU %AL=NPI AJPKB1Q>HE? )A=HPD
Yl +316. gj
`llh8--hmZda[`]Ydl`,dY[gmflq,_gn-]`-BM-dm-dmXeYaf,`le
6
DPPL OBLQ?@=REOA@Q BEHAO L@B DPPL SSS?HAI OKJA@Q ATPAJOEKJ DCE? LH=JPO KPDAN H=J@O?=LEJC DCE? DPI H
02
)% AVKX] K\ PK[ K\ ZY\\SLVO P[YW Y]RO[ RKcK[N\%
Qjq lg hdYfl Yk ^Yj Yk hgkkaZd] ^jge Yj]Yk km[` Yk hYafl]\ kljm[lmj]k* ^]f[]k* ^j]]oYqk Yf\
jgY\k* Yf\ gl`]j hgl]flaYd `YrYj\k dakl]\ af QYZd] 3 &YZgn]',
*% 2NN Y[QKXSM WK]]O[ ]Y KWOXN bY^[ \YSV%
>\\af_ `a_` imYdalq [gehgkl* ogje [Yklaf_k* Yf\ gl`]j gj_Yfa[ eYll]j lg qgmj kgad gf Y
j]_mdYj ZYkak oadd `]dh lg aehjgn] al gn]j lae], Lj_Yfa[ eYll]j `Yk eYfq Z]f]^alk* af[dm\af_
l`gk] dakl]\ Z]dgo,
"
"
"
"
Japaf_ gj_Yfa[ eYll]j aflg qgmj kgad eYc]k [gflYeafYflk d]kk [gf[]fljYl]\,
Lj_Yfa[ eYll]j Zaf\k oal` `Yje^md `]Ynq e]lYdk kg l`Yl hdYflk Yj]fsl Yk dac]dq lg
YZkgjZ l`]e,
Lj_Yfa[ eYll]j `gd\k fmlja]flk ^gj hdYflk* Yf\ j]d]Yk]k l`]e kdgodq* `]dhaf_ hdYflk
lg _jgo km[[]kk^mddq,
Lj_Yfa[ eYll]j `]dhk kgad lg `gd\ egaklmj]* kg l`Yl oYl]j [Yf j]Y[` hdYfl jgglk,
?mqaf_* gj Z]ll]j q]l* hjg\m[af_* imYdalq [gehgkl ak gf] g^ l`] Z]kl afn]kle]flk Y _Yj\]f]j
[Yf eYc],
?Yk]\ gf l]klaf_ j]kmdlk Yf\ Y\na[] ^jge l`] dYZ* qgm eYq oYfl lg [gfka\]j Y\\alagfYd kgad
Ye]f\e]flk l`Yl [Yf `]dh qgmj _Yj\]f ^dgmjak`, Vgm [Yf d]Yjf egj] YZgml Ye]f\af_ qgmj
kgad Yl8 `llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-Pgadk-PgadXNmYdalqXYf\XC]jladalq-
+% 4YX\O[_O `K]O[%
Ln]j oYl]jaf_ oYkl]k hj][agmk fYlmjYd j]kgmj[]k* ]kh][aYddq af gmj [mjj]fl \jgm_`l, >dd
_Yj\]f]jk k`gmd\ d]Yjf YZgml ajja_Ylagf kqkl]ek Yf\ kljYl]_a]k ^gj [gfk]jnaf_ oYl]j Yf\
j]\m[af_ jmf+g^^ &`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-TYl]j-', Lf] Yn]fm] ak lg
[gfka\]j emd[`af_ &k]] "0 af tPgad Qj]Yle]flk Y^l]j Q]klaf_u k][lagf' o`a[` `]dhk j]\m[]
oYl]j ]nYhgjYlagf, Jmd[` Ydkg `]dhk hj]k]jn] kgad egaklmj] Zq c]]haf_ l`] kgad [ggd af
kmee]j,
Igk >f_]d]k @gmflq `Yk Y\ghl]\ oYl]j [gfk]jnYlagf j]_mdYlagfk hjg`aZalaf_ j]ka\]flk ^jge
"
"
"
Ln]joYl]jaf_ af Y eYff]j l`Yl [Ymk]k jmfg^^ aflg Y\bgafaf_ klj]]lk* hYjcaf_ dglk gj
Ydd]qk9
TYl]jaf_ egj] l`Yf gf[] Y \Yq gj Z]lo]]f l`] `gmjk g^ /.8.. Y,e, Yf\ 38.. h,e,9 gj
Mgkk]kkaf_ `gk]k* ^Ym[]lk Yf\ khjafcdaf_ kqkl]ek l`Yl d]Yc,
@`][c oal` qgmj dg[Yd bmjak\a[lagf ^gj Y\\alagfYd oYl]j j]klja[lagfk \m] lg l`] \jgm_`l, Caf\
gml egj] `]j]8 `llh8--\ho,dY[gmflq,_gn-oo\-o]Z-@gfk]jnYlagf-Ajgm_`l,Ykhp
03
,% HOK[ QVY_O\ `ROX bY^ QK[NOX# KXN `K\R bY^[ RKXN\ SWWONSK]OVb KP]O[ QK[NOXSXQ%
Q`ak oadd `]dh eafaear] l`] jakc g^ [gfkmeaf_ kgad Y[[a\]flYddq* gj Zjaf_af_ kgad aflg l`]
`ge],
-% HK\R Z[YN^MO ]RY[Y^QRVb ^\SXQ [^XXSXQ `K]O[# [OWY_O Y^]O[ VOK_O\ YP _OQO]KLVO\#
KXN ZOOV [YY] M[YZ\%
Cgg\ _jgof af qgmj _Yj\]f k`gmd\ YdoYqk Z] oYk`]\ o]dd Z]^gj] ]Ylaf_, TYk`af_
n]_]lYZd]k Yf\ ^jmalk Y^l]j Y `Yjn]kl &ZYjjaf_ k]jagmk [gflYeafYlagf' [Yf eYc] Y ka_fa^a[Yfl
\a^^]j]f[] af hjgeglaf_ `]Ydl` Yf\ o]ddf]kk, 7 Ff Y\\alagf* j]egnaf_ l`] gml]j d]Yn]k g^
[jghk dac] d]llm[] Yf\ h]]daf_ jggl [jghk dac] [Yjjglk `]dhk j]\m[] ]phgkmj] lg
[gflYeafYflk* kaf[] l`]k] [jghk Yj] af \aj][l [gflY[l oal` l`] kgad,
.% 2_YSN L[SXQSXQ \YSV SX]Y ]RO RYWO%
Ff gj\]j lg eafaear] l`] khj]Y\ g^ [gflYeafYl]\ kgad* Z] kmj] lg [d]Yf lggdk* _dgn]k* Yf\
k`g]k Z]^gj] Zjaf_af_ l`]e af\ggjk9 hml `]Ynadq kgad]\ [dgl`]k af Y ZY_ Z]^gj] Zjaf_af_
l`]e afka\] Yf\ oYk` l`]e Yk kggf Yk hgkkaZd],
/% CO_SO` Y]RO[ LO\] Z[KM]SMO\ QK[NOX WKXKQOWOX] ]SZ\%
Igk >f_]d]k @gmflq Yf\ l`] Rfan]jkalq g^ @Yda^gjfaY @ggh]jYlan] Bpl]fkagf hjgna\] eYfq
j]kgmj[]k lg `]dh qgm eYc] qgmj _Yj\]f km[[]kk^md Yf\ `]Ydl`q ^gj ]n]jqgf] ]Ylaf_ ^gg\
_jgof l`]j],
Cgj egj] af^gjeYlagf* nakal8
`llh8--[]dgkYf_]d]k,m[Yfj,]\m-R@XJYkl]jXDYj\]f]jXMjg_jYe-DYj\]faf_X>jla[d]k-
$/.$,42*/.
T`ad] l`]j] Yj] akkm]k l`Yl f]]\ lg Z] Y\\j]kk]\ lg _Yj\]f kY^]dq af mjZYf Yj]Yk* _Yj\]faf_
f]n]jl`]d]kk hjgna\]k eYfq Z]f]^alk lg Zgl` af\ana\mYdk Yf\ l`] [geemfalq v km[` Yk j]Y\q
YnYadYZadalq g^ ^j]k` ^jmalk Yf\ n]_]lYZd]k Yk o]dd Yk ghhgjlmfala]k ^gj h`qka[Yd Y[lanalq, ?q
^gddgoaf_ l`] _ma\Yf[] af l`ak \g[me]fl* h]ghd] [Yf _Yj\]f oal` [gf^a\]f[] Yf\ cfgo l`Yl
l`]q `Yn] ]fkmj]\ l`Yl l`]aj _Yj\]f ak Y `]Ydl`q khY[], T] YhhdYm\ qgmj ]^^gjlk!
7
`llh8--eg\]jf^Yje]j,[ge-0./2-.5-d]Y\+mjZYf+_Yj\]fk-
04
1&'&1&.$&2 ".% 1&2/41$&2
Igk >f_]d]k @gmflq Yf\ alk hYjlf]jk `Yn] Y\\alagfYd j]kgmj[]k l`Yl [Yf Ykkakl qgm oal` Z]kl
_Yj\]f eYfY_]e]fl hjY[la[]k* `]Ydl`q hjY[la[]k* ljgmZd]k`gglaf_* Yf\ gl`]j j]kgmj[]k lg
[j]Yl] Y km[[]kk^md _Yj\]f, @gfka\]j j]na]oaf_ l`] ^gddgoaf_ Y\\alagfYd \g[me]flk8
"
FXS_O[\S]b YP 4KVSPY[XSK# 5S_S\SYX YP 2Q[SM^V]^[O KXN ?K]^[KV CO\Y^[MO\ !F4
2?C"# 8^SNO ]Y F[LKX 2Q[SM^V]^[O, >nYadYZd] Yl8 `llh8--m[Yfj,]\m-kal]k-RjZYf>_-
"
tCO^\SXQ ZY]OX]SKVVb MYX]KWSXK]ON VKXN\MKZO\0 Q[Y`SXQ QK[NOX\ SX ^[LKX
\YSV\*u Zq l`] R,P, Bfnajgfe]flYd Mjgl][lagf >_]f[q* L^^a[] g^ Pmh]j^mf\
O]e]\aYlagf Yf\ Q][`fgdg_q FffgnYlagf &BM>-320-C+/.-.//'
"
R,P, Bfnajgfe]flYd Mjgl][lagf >_]f[qsk 4YX]KWSXK]ON DS]O 4VOKX$FZ ;XPY[WK]SYX
&@IR+FK' o]Zkal]8 ooo,[dm+af,gj_-][glggdk-mjZYf_Yj\]fk,[^e
"
t6X_S[YXWOX]KV 4RKVVOXQO\ ER[OK]OXSXQ ]RO 8[Y`]R YP F[LKX 2Q[SM^V]^[O SX ]RO
FXS]ON D]K]O\*u Zq PYe B, TgjleYf Yf\ PYjY` QYqdgj Ign]ddY, >nYadYZd] Yl8
`llhk8--ooo,Y_jgfgeq,gj_-hmZda[Ylagfk-b]i-YZkljY[lk-20-3-/061
"
@gjf]dd TYkl] JYfY_]e]fl Ffklalml]sk tHRK] 8K[NOXO[\ 4KX 5Y0 (' 3O\] A[KM]SMO\
PY[ 9OKV]Rb 8K[NOXSXQ,u >nYadYZd] Yl8
`llh8--[oea,[kk,[gjf]dd,]\m-T`YlDYj\]f]jk@YfAgBf_dak`,h\^ &PhYfak` n]jkagf tIg
im] dgk bYj\af]jgk hg\]egk `Y[]j8 /. @gfk]bgk hYjY hjY[la[Yj dY bYj\af]jzY
\]eYf]jY kYdm\YZd]u+ YnYadYZd] Yl8
`llh8--[oea,[kk,[gjf]dd,]\m-T`YlDYj\]f]jk@YfAgPhYfak`,h\^',
"
tDYSV\ SX F[LKX 2Q[SM^V]^[O0 EO\]SXQ# COWONSK]SYX# KXN 3O\] >KXKQOWOX]
A[KM]SMO\ PY[ 4KVSPY[XSK 4YWW^XS]b 8K[NOX\# DMRYYV 8K[NOX\# KXN F[LKX
7K[W\*u Zq OY[`]d Pmjdk* SYd]ja] ?gj]d* Yf\ >f\j] ?ak[Yjg, >nYadYZd] Yl8
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-^ad]k-/750.5,h\^
"
tDYSV 4YX]KWSXKX]\ KXN DYSV EO\]SXQ*u Zq R@ >KO, >nYadYZd] Yl8
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-Pgadk-PgadX@gflYeafYflkXYf\XPgadXQ]kla
f_-
"
tF[LKX 8K[NOXSXQ0 >KXKQSXQ ]RO CS\U\ YP 4YX]KWSXK]ON DYSV*u Zq O]Z][[Y
H]kkd]j, >nYadYZd] Yl8 `llh8--]`h,fa]`k,fa`,_gn-/0/+Y104-
"
t9OK_b >O]KV\ SX A[YN^MO P[YW F[LKX 7K[W\ SX ]RO DKX 7[KXMS\MY 3Kb 2[OK*u Zq
EYffY` Hg`jeYf Yf\ @, MY_] @`YeZ]jdYaf, >nYadYZd] Yl8
`llh8--ooo,afmY_,gj_-kal]k-\]^Ymdl-^ad]k-Hg`jeYf$0.Yf\$0.@`YeZ]jdYaf$0.E]Y
nq$0.J]lYdk$0.PC$0.?Yq,h\^
"
@gjf]dd TYkl] JYfY_]e]fl Ffklalml]sk t8^SNO ]Y DYSV EO\]SXQ KXN ;X]O[Z[O]SXQ
CO\^V]\*u Zq EYffY` P`Yqd]j* JmjjYq J[?ja\]* Yf\ Bdd]f EYjjakgf, >nYadYZd] Yl8
`llh8--[oea,[kk,[gjf]dd,]\m-_ma\]lgkgad,h\^
05
"
tD^\]KSXKLVO HK]O[ >KXKQOWOX] PY[ F[LKX 2Q[SM^V]^[O*u Zq GYf]ll KgdYk[g,
>nYadYZd] Yl8 `llh8--hY[afkl,gj_-oh+
[gfl]fl-mhdgY\k-0./1-.0-kmklYafYZd]XoYl]jXeYfY_]e]flX^gjXmjZYfXY_ja[mdlmj]1,h
\^
"
F4 2?C 8^SNO ]Y HK]O[ ;[[SQK]SYX, >nYadYZd] Yl8
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-TYl]j-Fjja_Ylagf-
"
F4 2?C 8^SNO ]Y HK]O[ 4YX\O[_K]SYX, >nYadYZd] Yl8
`llh8--m[Yfj,]\m-kal]k-RjZYf>_-Mjg\m[lagf-TYl]j-@gfk]jnYlagf-
"
4KVSPY[XSKd\ COQSYXKV HK]O[ 3YK[N\ ;XPY[WK]SYX, >nYadYZd] Yl8
`llh8--ooo,oYl]jZgYj\k,[Y,_gn-YZgmlXmk-[gflY[lXmk-joi[ZkX\aj][lgjq,k`led
06
"$+./5,&%(-&.32
Q`ak ak Y hjg\m[l g^ l`] =@D 2?86=6D 4@F?EJ 962=E9J 56D;8? H@C<8C@FA
$CBGE?7HGCEF
=@D 2?86=6D 4@F?EJ 56A2CE>6?E @7 AF3=;4 962=E9
>f_]dg ?]ddgeg
>jfgd\ Igh]r
?j]f\Y Igh]r
@Yjdgk ?gjbY
@`Yf\Y Paf_`
@`Yjd]f] @gflj]jYk
@qjmk OYf_Yf
BdarYZ]l` O`gY\]k
Cj]\ja[c >_qaf
DjY[]daf] P`af
G]Yf >jeZjmkl]j
PoYla ?`Yll
W]hmj L`Yff]kkaYf
=@D 2?86=6D 4@F?EJ 56A2CE>6?E @7 AF3=;4 H@C<D
Gae ?Yraf]l
=@D 2?86=6D 4@F?EJ 56A2CE>6?E @7 362496D 2?5 92C3@CD
Ja] Ggf]kk
F?;G6CD;EJ @7 42=;7@C?;2 4@@A6C2E;G6 6IE6?D;@?
OY[`]d Pmjdk
=@D 2?86=6D 4@F?EJ 49;67 6I64FE;G6 @77;46
Ogkk I]fa`Yf
AVLJPHR ZOHTQY ZU 5\LTUX <HYPY# @UILXZ DHYW[L`# ;H[XLT 4[TTPTN# >H[R APSUT# 3OXPYZPTL
<UTZLY# 4PVH AOHO# AZL\L 2HRK]PT# GUL >OPRRPVY# 3RHXL 6U^# 1TPYOH 8PTNUXHTP# <HXQ 7RHYYUJQ#
BOHTZ EPT# 5XPJ 5K]HXKY# AJUZZ 1IIUZZ# BOUSHY >HX_Y# ;[YP <QOPZHX_HT# HTK 4LTPYL =UIUXPU%
07
Fly UP