ࡱ> rtmnopqbjbj8/((xxx8 M"""""#k*,qLsLsLsLsLsLsLNrQsLQx,##,,sL((""L444,(8"x"qL4,qL44H%`=L"ds1K>]LL0 MK>R+2R|=LRx=L ,,4,,,,,sLsL4,,, M,,,,R,,,,,,,,,( :!" !"  / !!! $ & #" . 0<5AB8B5;L 8=8AB@0 >1@07>20=8O >AA89A:>9 $545@0F88 __________. . (04@8:>2  14 _0?@5;O_ 20003. 538AB@0F8>==K9 =><5@ 333 B5E/4A !# !"+  ",+ !" " +!(  $!!,  / 0?@02;5=85 ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0 651600 ( "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 20;8D8:0F8O =65=5@ 2>48BAO 2 459AB285 A <><5=B0 CB25@645=8O >A:20 2000 3. 1I0O E0@0:B5@8AB8:0 =0?@02;5=8O ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 1.1. 0?@02;5=85 ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0 CB25@645=> ?@8:07>< 8=8AB5@AB20 >1@07>20=8O >AA89A:>9 $545@0F88 >B 02.03.2000 3. ! 686. 1.2. 5@5G5=L >1@07>20B5;L=KE ?@>3@0<< (A?5F80;L=>AB59), @50;87C5<KE 2 @0<:0E 40==>3> =0?@02;5=8O ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0: 120900 @>5:B8@>20=85 B5E=8G5A:8E 8 B5E=>;>38G5A:8E :><?;5:A>2;170100( >@=K5 <0H8=K 8 >1>@C4>20=85;170300( 5B0;;C@38G5A:85 <0H8=K 8 >1>@C4>20=85;170700( 0H8=K 8 0??0@0BK B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8;170800( >;83@0D8G5A:85 <0H8=K 8 02B><0B878@>20==K5 :><?;5:AK;170400 0H8=K 8 >1>@C4>20=85 ;5A=>3> :><?;5:A0;230300 KB>2K5 <0H8=K 8 ?@81>@K.1.3. 20;8D8:0F8O 2K?CA:=8:0 ( 8=65=5@ (4;O A?5F80;L=>AB8  >@=K5 <0H8=K 8 >1>@C4>20=85  3>@=K9 8=65=5@). >@<0B82=K9 A@>: >A2>5=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 8=65=5@0 ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 ?@8 >G=>9 D>@<5 >1CG5=8O - 5 ;5B. 1.4. 20;8D8:0F8>==0O E0@0:B5@8AB8:0 2K?CA:=8:0. 1.4.1. 1;0AB8 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8: <0H8=>AB@>8B5;L=>5 ?@>872>4AB2>, B5E=>;>38G5A:85 ?@>F5AAK ?@>872>4AB20; =>@<0B82=>-B5E=8G5A:0O 4>:C<5=B0F8O, A8AB5<K AB0=40@B870F88, <5B>4K, A@54AB20 8A?KB0=89 8 :>=B@>;O :0G5AB20 8745;89 <0H8=>AB@>5=8O; A?>A>1K 8 <5B>4K G5;>25G5A:>9 45OB5;L=>AB8, =0?@02;5==K5 =0 8AA;54>20=85, @07@01>B:C 8 2=54@5=85 <0H8=>AB@>8B5;L=KE B5E=>;>389 4;O >15A?5G5=8O :0G5AB20 2K?CA:05<KE 8745;89. 1.4.2. 1J5:BK ?@>D5AA8>=0;L=>9 45OB5;L=>AB8: >1J5:BK <0H8=>AB@>8B5;L=>3> ?@>872>4AB20, B5E=>;>38G5A:>5 >1>@C4>20=85, 8=AB@C<5=B0;L=0O B5E=8:0, B5E=>;>38G5A:0O >A=0AB:0 8 A@54AB20 02B><0B870F88; @07@01>B:0 8 ?@>5:B8@>20=85 B5E=>;>38G5A:>3> >1>@C4>20=8O; ?@>872>4AB25==K9 8 B5E=>;>38G5A:89 ?@>F5AAK, 8E @07@01>B:0 8 >A2>5=85 =>2KE B5E=>;>389; A@54AB20 8=D>@<0F8>==>3>, <5B@>;>38G5A:>3>, 4803=>AB8G5A:>3> 8 C?@02;5=G5A:>3> >15A?5G5=8O B5E=>;>38G5A:8E A8AB5< 4;O 4>AB865=8O :0G5AB20 2K?CA:05<KE 8745;89; =>@<0B82=>-B5E=8G5A:0O 4>:C<5=B0F8O, A8AB5<K AB0=40@B870F88 8 A5@B8D8:0F88, <5B>4K 8 A@54AB20 8A?KB0=89 8 :>=B@>;O :0G5AB20 8745;89 <0H8=>AB@>5=8O. 1.4.3. 84K ?@>D5AA8>=0;L=>9 45OB5;L=>AB8. K?CA:=8: ?> =0?@02;5=8N ?>43>B>2:8  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 <>65B 2 A>>B25BAB288 A DC=40<5=B0;L=>9 8 A?5F80;L=>9 ?>43>B>2:>9 2K?>;=OBL A;54CNI85 284K ?@>D5AA8>=0;L=>9 45OB5;L=>AB8: ?@>5:B=>-:>=AB@C:B>@A:0O, >@30=870F8>==>-C?@02;5=G5A:0O; ?@>872>4AB25==>-B5E=>;>38G5A:0O; ;M:A?;C0B0F8>==0O; =0CG=>-8AA;54>20B5;LA:0O. >=:@5B=K5 284K 45OB5;L=>AB8 >?@545;ONBAO A>45@60=85< >1@07>20B5;L=>-?@>D5AA8>=0;L=>9 ?@>3@0<<K, @07@010BK205<>9 2C7><. 1.4.4. 040G8 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8. =65=5@ ?> =0?@02;5=8N  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 ?>43>B>2;5= : @5H5=8N A;54CNI8E B8?>2 7040G ?> 284C ?@>D5AA8>=0;L=>9 45OB5;L=>AB8. @>5:B=>-:>=AB@C:B>@A:0O 45OB5;L=>ABL: D>@<C;8@>20=85 F5;59 8 7040G ?@>5:B0 (?@>3@0<<K) ?@8 2K40==KE :@8B5@8OE, F5;52KE DC=:F8OE, >3@0=8G5=8OE, ?>AB@>5=85 AB@C:BC@K 8E 2708<>A2O759, 2KO2;5=85 ?@8>@8B5B>2 @5H5=8O 7040G A CG5B>< =@02AB25==KE 0A?5:B>2 45OB5;L=>AB8; @07@01>B:0 >1>1I5==KE 20@80=B>2 @5H5=8O ?@>1;5<, 0=0;87 MB8E 20@80=B>2, ?@>3=>78@>20=85 ?>A;54AB289, =0E>645=85 :><?@><8AA=KE @5H5=89 2 CA;>28OE <=>3>:@8B5@80;L=>AB8, =5>?@545;5==>AB8; ?;0=8@>20=85 @50;870F88 ?@>5:B>2; @07@01>B:0 ?@>5:B>2 8745;89 A CG5B>< <5E0=8G5A:8E, B5E=>;>38G5A:8E, :>=AB@C:B>@A:8E, M:A?;C0B0F8>==KE, MAB5B8G5A:8E, M:>=><8G5A:8E ?0@0<5B@>2; 8A?>;L7>20=85 8=D>@<0F8>==KE B5E=>;>389 4;O 2K1>@0 =5>1E>48<KE <0B5@80;>2 873>B02;8205<KE 8745;89. @30=870F8>==>-C?@02;5=G5A:0O 45OB5;L=>ABL: @07@01>B:0 >?B8<0;L=KE B5E=>;>389 873>B>2;5=8O 8745;89; >@30=870F8O 8 MDD5:B82=>5 >ACI5AB2;5=85 2E>4=>3> :>=B@>;O :0G5AB20 <0B5@80;>2, ?@>872>4AB25==>3> :>=B@>;O B5E=>;>38G5A:8E ?@>F5AA>2, :0G5AB20 3>B>2>9 ?@>4C:F88; MDD5:B82=>5 8A?>;L7>20=85 <0B5@80;>2, >1>@C4>20=8O, 0;3>@8B<>2 8 ?@>3@0<< 2K1>@0 8 @0AG5B>2 ?0@0<5B@>2 B5E=>;>38G5A:8E ?@>F5AA>2; 2K1>@ <0B5@80;>2 8 >1>@C4>20=8O 4;O @50;870F88 ?@>872>4AB25==KE ?@>F5AA>2, >ACI5AB2;5=85 <5B@>;>38G5A:>9 ?>25@:8 >A=>2=KE A@54AB2 87<5@5=8O ?>:070B5;59 :0G5AB20 2K?CA:05<>9 ?@>4C:F88; AB0=40@B870F8O 8 A5@B8D8:0F8O 2K?CA:05<KE 8745;89 8 B5E=>;>38G5A:8E ?@>F5AA>2. @>872>4AB25==>-B5E=>;>38G5A:0O 45OB5;L=>ABL: >@30=870F8O @01>BK :>;;5:B820 8A?>;=8B5;59, ?@8=OB85 C?@02;5=G5A:8E @5H5=89 2 CA;>28OE @07;8G=KE <=5=89; =0E>645=85 :><?@><8AA0 <564C @07;8G=K<8 B@51>20=8O<8 (AB>8<>AB8, :0G5AB20, 157>?0A=>AB8 8 A@>:>2 8A?>;=5=8O) :0: ?@8 4>;3>A@>G=><, B0: 8 ?@8 :@0B:>A@>G=>< ?;0=8@>20=88 8 >?@545;5=88 >?B8<0;L=KE @5H5=89; >F5=:0 ?@>872>4AB25==KE 8 =5?@>872>4AB25==KE 70B@0B =0 >15A?5G5=85 B@51C5<>3> :0G5AB20 ?@>4C:F88. -:A?;C0B0F8>==0O 45OB5;L=>ABL: M:A?;C0B0F8O B5E=>;>38G5A:8E <0H8=, >1>@C4>20=8O 8 >A=0AB:8; M:A?;C0B0F8O 8 @5<>=B F5E>2>3> >1>@C4>20=8O. 0CG=>-8AA;54>20B5;LA:0O 45OB5;L=>ABL: 4803=>AB8:0 A>AB>O=8O 8 48=0<8:8 >1J5:B>2 45OB5;L=>AB8 (B5E=>;>38G5A:8E ?@>F5AA>2, >1>@C4>20=8O 8 A@54AB2 C?@02;5=8O) A 8A?>;L7>20=85< =5>1E>48<KE <5B>4>2 8 A@54AB2 0=0;870; A>740=85 <0B5<0B8G5A:8E 8 D878G5A:8E <>45;59 ?@>F5AA>2 8 >1>@C4>20=8O; ?;0=8@>20=85 M:A?5@8<5=B0 8 8A?>;L7>20=85 <5B>48: <0B5<0B8G5A:>9 >1@01>B:8 @57C;LB0B>2; 8A?>;L7>20=85 8=D>@<0F8>==KE B5E=>;>389 ?@8 @07@01>B:5 =>2KE B5E=>;>389 8 8745;89 <0H8=>AB@>5=8O. 1.4.5. 20;8D8:0F8>==K5 B@51>20=8O. >43>B>2:0 2K?CA:=8:0 4>;6=0 >15A?5G820BL :20;8D8:0F8>==K5 C<5=8O 4;O @5H5=8O ?@>D5AA8>=0;L=KE 7040G: 2K?>;=5=85 @01>BK 2 >1;0AB8 =0CG=>-B5E=8G5A:>9 45OB5;L=>AB8 ?> ?@>5:B8@>20=8N, 8=D>@<0F8>==><C >1A;C6820=8N, >@30=870F88 ?@>872>4AB20, B@C40 8 C?@02;5=8N, <5B@>;>38G5A:><C >15A?5G5=8N, B5E=8G5A:><C :>=B@>;N; ?>;57=>5 8A?>;L7>20=85 ?@8@>4=KE @5AC@A>2, M=5@388 8 <0B5@80;>2; @07@01>B:0 <5B>48G5A:8E 8 =>@<0B82=KE <0B5@80;>2, B5E=8G5A:>9 4>:C<5=B0F88, 0 B0:65 ?@54;>65=89 8 <5@>?@8OB89 ?> >ACI5AB2;5=8N ?@>5:B>2 8 ?@>3@0<<; ?@>2545=85 :><?;5:A=>3> B5E=8:>-M:>=><8G5A:>3> 0=0;870 4;O >1>A=>20==>3> ?@8=OB8O @5H5=89, 87KA:0=85 2>7<>6=>AB8 A>:@0I5=8O F8:;0 @01>B, A>459AB285 ?>43>B>2:5 ?@>F5AA0 8E @50;870F88 A >15A?5G5=85< =5>1E>48<K<8 B5E=8G5A:8<8 40==K<8, <0B5@80;0<8, >1>@C4>20=85<; CG0AB85 2 @01>B0E ?> >ACI5AB2;5=8N 8AA;54>20=89, 2 @07@01>B:5 ?@>5:B>2 8 ?@>3@0<<, 2 ?@>2545=88 =5>1E>48<KE <5@>?@8OB89, A2O70==KE A 8A?KB0=8O<8 >1>@C4>20=8O 8 2=54@5=85< 53> 2 M:A?;C0B0F8N, 0 B0:65 2 2K?>;=5=88 @01>B ?> AB0=40@B870F88 B5E=8G5A:8E A@54AB2, A8AB5<, ?@>F5AA>2, >1>@C4>20=8O, 2 @0AA<>B@5=88 @07;8G=>9 B5E=8G5A:>9 4>:C<5=B0F88 8 ?>43>B>2:5 =5>1E>48<KE >17>@>2, >B7K2>2, 70:;NG5=89; 2K?>;=5=85 @01>BK ?> AB0=40@B870F88 B5E=8G5A:8E A@54AB2, A8AB5<, ?@>F5AA>2, >1>@C4>20=8O; 87CG5=85 8 >1>1I5=85, 0=0;87 8 A8AB5<0B870F8O =5>1E>48<>9 8=D>@<0F88, B5E=8G5A:8E 40==KE, ?>:070B5;59 8 @57C;LB0B>2 @01>BK, ?@8=OBKE @5H5=89, ?@>2545=85 =5>1E>48<KE @0AG5B>2 A 8A?>;L7>20=85< A>2@5<5==KE :><?LNB5@=KE A@54AB2; >:070=85 <5B>48G5A:>9 8 ?@0:B8G5A:>9 ?><>I8 ?@8 @50;870F88 ?@>5:B>2 8 ?@>3@0<<, ?;0=>2 8 4>3>2>@>2; >ACI5AB2;5=85 M:A?5@B87K B5E=8G5A:>9 4>:C<5=B0F88, =047>@0 8 :>=B@>;O 70 A>AB>O=85< 8 M:A?;C0B0F859 >1>@C4>20=8O; A;565=85 70 A>1;N45=85< CAB0=>2;5==KE B@51>20=89, 459AB2CNI8E =>@<, ?@028; 8 AB0=40@B>2; >@30=870F8O @01>BK ?> ?>2KH5=8N =0CG=>-B5E=8G5A:8E 7=0=89 @01>B=8:>2; @0728B85 B2>@G5A:>9 8=8F80B82K, @0F8>=0;870F88, 87>1@5B0B5;LAB20, 2=54@5=85 4>AB865=89 >B5G5AB25==>9 8 70@C156=>9 =0C:8, B5E=8:8, 8A?>;L7>20=85 ?5@54>2>3> >?KB0 4;O >15A?5G5=8O MDD5:B82=>9 @01>BK CG@5645=8O, >@30=870F88, ?@54?@8OB8O. =65=5@ 4>;65= 7=0BL: ?>AB0=>2;5=8O, @0A?>@O65=8O, ?@8:07K 2KH5AB>OI8E 8 4@C38E >@30=>2; <5B>48G5A:85, =>@<0B82=K5 8 @C:>2>4OI85 <0B5@80;K, :0A0NI85AO 2K?>;=O5<>9 @01>BK; ?5@A?5:B82K B5E=8G5A:>3> @0728B8O 8 >A>15==>AB8 45OB5;L=>AB8 CG@5645=8O, >@30=870F88, ?@54?@8OB8O; ?@8=F8?K @01>BK, B5E=8G5A:85 E0@0:B5@8AB8:8, :>=AB@C:B82=K5 >A>15==>AB8 @07@010BK205<KE 8 8A?>;L7C5<KE B5E=8G5A:8E A@54AB2; <5B>4K 8AA;54>20=8O, ?@028;0 8 CA;>28O 2K?>;=5=8O @01>B; >A=>2=K5 B@51>20=8O, ?@54JO2;O5<K5 : B5E=8G5A:>9 4>:C<5=B0F88, <0B5@80;0<, 8745;8O<; <5B>4K ?@>2545=8O B5E=8G5A:8E @0AG5B>2 8 >?@545;5=8O M:>=><8G5A:>9 MDD5:B82=>AB8 8AA;54>20=89 8 @07@01>B>:; 4>AB865=8O =0C:8 8 B5E=8:8, ?5@54>2>9 8 70@C156=K9 >?KB 2 >1;0AB8 7=0=89, A?>A>1AB2CNI8E @0728B8N B2>@G5A:>9 8=8F80B82K 2 AD5@5 >@30=870F88 ?@>872>4AB20, B@C40 8 C?@02;5=8O; >A=>2K B@C4>2>3> 70:>=>40B5;LAB20 8 3@0640=A:>3> ?@020; ?@028;0 8 =>@<K >E@0=K B@C40, B5E=8:8 157>?0A=>AB8, ?@>872>4AB25==>9 A0=8B0@88 8 ?@>B82>?>60@=>9 70I8BK. 1.5. >7<>6=>AB8 ?@>4>;65=8O >1@07>20=8O 2K?CA:=8:0 =65=5@, >A2>82H89 >A=>2=CN >1@07>20B5;L=CN ?@>3@0<<C 2KAH53> ?@>D5AA8>=0;L=>3> >1@07>20=8O ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 , ?>43>B>2;5= 4;O ?@>4>;65=8O >1@07>20=8O 2 0A?8@0=BC@5. "@51>20=8O : C@>2=N ?>43>B>2:8 018BC@85=B0 2.1. @54H5AB2CNI89 C@>25=L >1@07>20=8O 018BC@85=B0 ( A@54=55 (?>;=>5) >1I55 >1@07>20=85. 2.2. 18BC@85=B 4>;65= 8<5BL 4>:C<5=B 3>AC40@AB25==>3> >1@07F0 > A@54=5< (?>;=><) >1I5< >1@07>20=88 8;8 A@54=5< ?@>D5AA8>=0;L=>< >1@07>20=88, 8;8 =0G0;L=>< ?@>D5AA8>=0;L=>< >1@07>20=88, 5A;8 2 =5< 5ABL 70?8AL > ?>;CG5=88 ?@54JO28B5;5< A@54=53> (?>;=>3>) >1I53> >1@07>20=8O, 8;8 2KAH5< ?@>D5AA8>=0;L=>< >1@07>20=88. 1I85 B@51>20=8O : >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<5 ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 3.1. A=>2=0O >1@07>20B5;L=0O ?@>3@0<<0 ?>43>B>2:8 8=65=5@0 @07@010BK205BAO =0 >A=>20=88 =0AB>OI53> 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0 48?;><8@>20==>3> A?5F80;8AB0 8 2:;NG05B 2 A51O CG51=K9 ?;0=, ?@>3@0<<K CG51=KE 48AF8?;8=, ?@>3@0<<K CG51=KE 8 ?@>872>4AB25==KE ?@0:B8:. 3.2. "@51>20=8O : >1O70B5;L=><C <8=8<C<C A>45@60=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 8=65=5@0, : CA;>28O< 55 @50;870F88 8 A@>:0< 55 >A2>5=8O >?@545;ONBAO =0AB>OI8< 3>AC40@AB25==K< >1@07>20B5;L=K< AB0=40@B><. 3.3. A=>2=0O >1@07>20B5;L=0O ?@>3@0<<0 ?>43>B>2:8 8=65=5@0 A>AB>8B 87 48AF8?;8= D545@0;L=>3> :><?>=5=B0, 48AF8?;8= =0F8>=0;L=>-@538>=0;L=>3> (2C7>2A:>3>) :><?>=5=B0, 48AF8?;8= ?> 2K1>@C ABC45=B0, 0 B0:65 D0:C;LB0B82=KE 48AF8?;8=. 8AF8?;8=K 2C7>2A:>3> :><?>=5=B0 8 ?> 2K1>@C ABC45=B0 2 :064>< F8:;5 4>;6=K A>45@60B5;L=> 4>?>;=OBL 48AF8?;8=K, C:070==K5 2 D545@0;L=>< :><?>=5=B5 F8:;0. 3.4. A=>2=0O >1@07>20B5;L=0O ?@>3@0<<0 ?>43>B>2:8 8=65=5@0 4>;6=0 ?@54CA<0B@820BL 87CG5=85 ABC45=B>< A;54CNI8E F8:;>2 48AF8?;8=: F8:; !-  1I5 3C<0=8B0@=K5 8 A>F80;L=>-M:>=><8G5A:85 48AF8?;8=K; F8:;  ( 1I85 <0B5<0B8G5A:85 8 5AB5AB25==>=0CG=K5 48AF8?;8=K; F8:;  ( 1I5?@>D5AA8>=0;L=K5 48AF8?;8=K; F8:; ! ( !?5F80;L=K5 48AF8?;8=K, 2:;NG0O 48AF8?;8=K A?5F80;870F88; $" ( $0:C;LB0B82=K5 48AF8?;8=K. 3.5. !>45@60=85 =0F8>=0;L=>-@538>=0;L=>3> :><?>=5=B0 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 8=65=5@0 4>;6=> >15A?5G820BL ?>43>B>2:C 2K?CA:=8:0 2 A>>B25BAB288 A :20;8D8:0F8>==>9 E0@0:B5@8AB8:>9, CAB0=>2;5==>9 =0AB>OI8< 3>AC40@AB25==K< >1@07>20B5;L=K< AB0=40@B><. "@51>20=8O : >1O70B5;L=><C <8=8<C<C A>45@60=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 =45:A08<5=>20=85 48AF8?;8= 8 8E >A=>2=K5 @0745;KA53> G0A>2123!-.1I85 3C<0=8B0@=K5 8 A>F80;L=>-M:>=><8G5A:85 48AF8?;8=K1800!-.$.00.$545@0;L=K9 :><?>=5=B1260!-.$.01.=>AB@0==K9 O7K: !?5F8D8:0 0@B8:C;OF88 72C:>2, 8=B>=0F88, 0:F5=BC0F88 8 @8B<0 =59B@0;L=>9 @5G8 2 87CG05<>< O7K:5; >A=>2=K5 >A>15==>AB8 ?>;=>3> AB8;O ?@>87=>H5=8O, E0@0:B5@=K5 4;O AD5@K ?@>D5AA8>=0;L=>9 :><<C=8:0F88; GB5=85 B@0=A:@8?F88. 5:A8G5A:89 <8=8<C< 2 >1J5<5 4000 CG51=KE ;5:A8G5A:8E 548=8F >1I53> 8 B5@<8=>;>38G5A:>3> E0@0:B5@0. >=OB85 48DD5@5=F80F88 ;5:A8:8 ?> AD5@0< ?@8<5=5=8O (1KB>20O, B5@<8=>;>38G5A:0O, >1I5=0CG=0O, >D8F80;L=0O 8 4@C30O). >=OB85 > A2>1>4=KE 8 CAB>9G82KE A;>2>A>G5B0=8OE, D@075>;>38G5A:8E 548=8F0E. >=OB85 >1 >A=>2=KE A?>A>10E A;>2>>1@07>20=8O. @0<<0B8G5A:85 =02K:8, >15A?5G820NI85 :><<C=8:0F8N 157 8A:065=8O A<KA;0 ?@8 ?8AL<5==>< 8 CAB=>< >1I5=88 >1I53> E0@0:B5@0; >A=>2=K5 3@0<<0B8G5A:85 O2;5=8O, E0@0:B5@=K5 4;O ?@>D5AA8>=0;L=>9 @5G8. >=OB85 >1 >18E>4=>-;8B5@0BC@=><, >D8F80;L=>-45;>2><, =0CG=>< AB8;OE, AB8;5 EC4>65AB25==>9 ;8B5@0BC@K. A=>2=K5 >A>15==>AB8 =0CG=>3> AB8;O. C;LBC@0 8 B@048F88 AB@0= 87CG05<>3> O7K:0, ?@028;0 @5G52>3> MB8:5B0. >2>@5=85. 80;>38G5A:0O 8 <>=>;>38G5A:0O @5GL A 8A?>;L7>20=85< =081>;55 C?>B@518B5;L=KE 8 >B=>A8B5;L=> ?@>ABKE ;5:A8:>-3@0<<0B8G5A:8E A@54AB2 2 >A=>2=KE :><<C=8:0B82=KE A8BC0F8OE =5>D8F80;L=>3> 8 >D8F80;L=>3> >1I5=8O. A=>2K ?C1;8G=>9 @5G8 (CAB=>5 A>>1I5=85, 4>:;04). C48@>20=85. >=8<0=85 480;>38G5A:>9 8 <>=>;>38G5A:>9 @5G8 2 AD5@5 1KB>2>9 8 ?@>D5AA8>=0;L=>9 :><<C=8:0F88. 'B5=85. 84K B5:AB>2: =5A;>6=K5 ?@03<0B8G5A:85 B5:ABK 8 B5:ABK ?> H8@>:><C 8 C7:><C ?@>D8;N A?5F80;L=>AB8. 8AL<>. 84K @5G52KE ?@>872545=89: 0==>B0F8O, @5D5@0B, B578AK, A>>1I5=8O, G0AB=>5 ?8AL<>, 45;>2>5 ?8AL<>, 18>3@0D8O. 340!-.$.02.$878G5A:0O :C;LBC@0 $878G5A:0O :C;LBC@0 2 >1I5:C;LBC@=>9 8 ?@>D5AA8>=0;L=>9 ?>43>B>2:5 ABC45=B>2. 5 A>F80;L=>-18>;>38G5A:85 >A=>2K. $878G5A:0O :C;LBC@0 8 A?>@B :0: A>F80;L=K5 D5=><5=K >1I5AB20. 0:>=>40B5;LAB2> >AA89A:>9 $545@0F88 > D878G5A:>9 :C;LBC@5 8 A?>@B5. $878G5A:0O :C;LBC@0 ;8G=>AB8. A=>2K 74>@>2>3> >1@070 687=8 ABC45=B0. A>15==>AB8 8A?>;L7>20=8O A@54AB2 D878G5A:>9 :C;LBC@K 4;O >?B8<870F88 @01>B>A?>A>1=>AB8. 1I0O D878G5A:0O 8 A?5F80;L=0O ?>43>B>2:0 2 A8AB5<5 D878G5A:>3> 2>A?8B0=8O. !?>@B. =48284C0;L=K9 2K1>@ 284>2 A?>@B0 8;8 A8AB5< D878G5A:8E C?@06=5=89. @>D5AA8>=0;L=>-?@8:;04=0O D878G5A:0O ?>43>B>2:0 ABC45=B>2. A=>2K <5B>48:8 A0<>AB>OB5;L=KE 70=OB89 8 A0<>:>=B@>;L 70 A>AB>O=85< A2>53> >@30=87<0. 408!-.$.03.B5G5AB25==0O 8AB>@8O !CI=>ABL, D>@<K, DC=:F88 8AB>@8G5A:>3> 7=0=8O. 5B>4K 8 8AB>G=8:8 87CG5=8O 8AB>@88. >=OB85 8 :;0AA8D8:0F8O 8AB>@8G5A:>3> 8AB>G=8:0. B5G5AB25==0O 8AB>@8>3@0D8O 2 ?@>H;>< 8 =0AB>OI5<: >1I55 8 >A>15==>5. 5B>4>;>38O 8 B5>@8O 8AB>@8G5A:>9 =0C:8. AB>@8O >AA88 - =5>BJ5<;5<0O G0ABL 2A5<8@=>9 8AB>@88. =B8G=>5 =0A;5485 2 M?>EC 5;8:>3> ?5@5A5;5=8O =0@>4>2. @>1;5<0 MB=>35=570 2>AB>G=KE A;02O=. A=>2=K5 MB0?K AB0=>2;5=8O 3>AC40@AB25==>AB8. @52=OO CAL 8 :>G52=8:8. 870=B89A:>-4@52=5@CAA:85 A2O78. A>15==>AB8 A>F80;L=>3> AB@>O @52=59 CA8. -B=>:C;LBC@=K5 8 A>F80;L=>-?>;8B8G5A:85 ?@>F5AAK AB0=>2;5=8O @CAA:>9 3>AC40@AB25==>AB8. @8=OB85 E@8AB80=AB20. 0A?@>AB@0=5=85 8A;0<0. -2>;NF8O 2>AB>G=>A;02O=A:>9 3>AC40@AB25==>AB8 2 %1-%11 22. !>F80;L=>-?>;8B8G5A:85 87<5=5=8O 2 @CAA:8E 75<;OE 2 %111-%# 22. CAL 8 @40: ?@>1;5<K 2708<>2;8O=8O. >AA8O 8 A@54=525:>2K5 3>AC40@AB20 2@>?K 8 788. !?5F8D8:0 D>@<8@>20=8O 548=>3> @>AA89A:>3> 3>AC40@AB20. >72KH5=85 >A:2K. $>@<8@>20=85 A>A;>2=>9 A8AB5<K >@30=870F88 >1I5AB20. 5D>@<K 5B@0 1. 5: :0B5@8=K. @54?>AK;:8 8 >A>15==>AB8 A:;04K20=8O @>AA89A:>3> 01A>;NB87<0. 8A:CAA88 > 35=578A5 A0<>45@6028O. A>15==>AB8 8 >A=>2=K5 MB0?K M:>=><8G5A:>3> @0728B8O >AA88. -2>;NF8O D>@< A>1AB25==>AB8 =0 75<;N. !B@C:BC@0 D5>40;L=>3> 75<;52;045=8O. @5?>AB=>5 ?@02> 2 >AA88. 0=CD0:BC@=>-?@><KH;5==>5 ?@>872>4AB2>. !B0=>2;5=85 8=4CAB@80;L=>3> >1I5AB20 2 >AA88: >1I55 8 >A>15==>5. 1I5AB25==0O <KA;L 8 >A>15==>AB8 >1I5AB25==>3> 42865=8O >AA88 %1% 2. 5D>@<K 8 @5D>@<0B>@K 2 >AA88. CAA:0O :C;LBC@0 %1% 25:0 8 55 2:;04 2 <8@>2CN :C;LBC@C. >;L %% AB>;5B8O 2 <8@>2>9 8AB>@88. ;>10;870F8O >1I5AB25==KE ?@>F5AA>2. @>1;5<0 M:>=><8G5A:>3> @>AB0 8 <>45@=870F88. 52>;NF88 8 @5D>@<K. !>F80;L=0O B@0=AD>@<0F8O >1I5AB20. !B>;:=>25=85 B5=45=F89 8=B5@=0F8>=0;87<0 8 =0F8>=0;87<0, 8=B53@0F88 8 A5?0@0B87<0, 45<>:@0B88 8 02B>@8B0@87<0. >AA8O 2 =0G0;5 %% 2. 1J5:B82=0O ?>B@51=>ABL 8=4CAB@80;L=>9 <>45@=870F88 >AA88. >AA89A:85 @5D>@<K 2 :>=B5:AB5 >1I5<8@>2>3> @0728B8O 2 =0G0;5 25:0. >;8B8G5A:85 ?0@B88 >AA88: 35=578A, :;0AA8D8:0F8O, ?@>3@0<<K, B0:B8:0. >AA8O 2 CA;>28OE <8@>2>9 2>9=K 8 >1I5=0F8>=0;L=>3> :@878A0. 52>;NF8O 1917 3. @0640=A:0O 2>9=0 8 8=B5@25=F8O, 8E @57C;LB0BK 8 ?>A;54AB28O. >AA89A:0O M<83@0F8O. !>F80;L=>-M:>=><8G5A:>5 @0728B85 AB@0=K 2 20-5 33. -. $>@<8@>20=85 >4=>?0@B89=>3> ?>;8B8G5A:>3> @568<0. 1@07>20=85 !!! . C;LBC@=0O 687=L AB@0=K 2 20-5 33. =5H=OO ?>;8B8:0. C@A =0 AB@>8B5;LAB2> A>F80;87<0 2 >4=>9 AB@0=5 8 53> ?>A;54AB28O. !>F80;L=>-M:>=><8G5A:85 ?@5>1@07>20=8O 2 30-5 33. #A8;5=85 @568<0 ;8G=>9 2;0AB8 !B0;8=0. !>?@>B82;5=85 AB0;8=87<C. !!!  =0:0=C=5 8 2 =0G0;L=K9 ?5@8>4 2B>@>9 <8@>2>9 2>9=K. 5;8:0O B5G5AB25==0O 2>9=0. !>F80;L=>-M:>=><8G5A:>5 @0728B85, >1I5AB25==>-?>;8B8G5A:0O 687=L, :C;LBC@0, 2=5H=OO ?>;8B8:0 !!!  2 ?>A;52>5==K5 3>4K. %>;>4=0O 2>9=0. >?KB:8 >ACI5AB2;5=8O ?>;8B8G5A:8E 8 M:>=><8G5A:8E @5D>@<. "  8 55 2;8O=85 =0 E>4 >1I5AB25==>3> @0728B8O. !!!  2 A5@548=5 60-80-E 33.: =0@0AB0=85 :@878A=KE O2;5=89. !>25BA:89 !>N7 2 1985-1991 33. 5@5AB@>9:0. >?KB:0 3>AC40@AB25==>3> ?5@52>@>B0 1991 3. 8 55 ?@>20;. 0A?04 !!! . 5;>256A:85 A>3;0H5=8O. :BO1@LA:85 A>1KB8O 1993 3. !B0=>2;5=85 =>2>9 @>AA89A:>9 3>AC40@AB25==>AB8 (1993-1999 33.). >AA8O =0 ?CB8 @048:0;L=>9 A>F80;L=>-M:>=><8G5A:>9 <>45@=870F88. C;LBC@0 2 A>2@5<5==>9 >AA88. =5H=5?>;8B8G5A:0O 45OB5;L=>ABL 2 CA;>28OE =>2>9 35>?>;8B8G5A:>9 A8BC0F88. !-.$.04.C;LBC@>;>38O !B@C:BC@0 8 A>AB02 A>2@5<5==>3> :C;LBC@>;>38G5A:>3> 7=0=8O. C;LBC@>;>38O 8 D8;>A>D8O :C;LBC@K, A>F8>;>38O :C;LBC@K, :C;LBC@=0O 0=B@>?>;>38O. C;LBC@>;>38O 8 8AB>@8O :C;LBC@K. "5>@5B8G5A:0O 8 ?@8:;04=0O :C;LBC@>;>38O. 5B>4K :C;LBC@>;>38G5A:8E 8AA;54>20=89. A=>2=K5 ?>=OB8O :C;LBC@>;>388: :C;LBC@0, F828;870F8O, <>@D>;>38O :C;LBC@K, DC=:F88 :C;LBC@K, AC1J5:B :C;LBC@K, :C;LBC@>35=57, 48=0<8:0 :C;LBC@K, O7K: 8 A8<2>;K :C;LBC@K, :C;LBC@=K5 :>4K, <56:C;LBC@=K5 :><<C=8:0F88, :C;LBC@=K5 F5==>AB8 8 =>@<K, :C;LBC@=K5 B@048F88, :C;LBC@=0O :0@B8=0 <8@0, A>F80;L=K5 8=AB8BCBK :C;LBC@K, :C;LBC@=0O A0<> 845=B8G=>ABL, :C;LBC@=0O <>45@=870F8O. "8?>;>38O :C;LBC@. -B=8G5A:0O 8 =0F8>=0;L=0O, M;8B0@=0O 8 <0AA>20O :C;LBC@K. >AB>G=K5 8 70?04=K5 B8?K :C;LBC@. !?5F8D8G5A:85 8 "A5@548==K5" :C;LBC@K. >:0;L=K5 :C;LBC@K. 5AB> 8 @>;L >AA88 2 <8@>2>9 :C;LBC@5. "5=45=F88 :C;LBC@=>9 C=825@A0;870F88 2 <8@>2>< A>2@5<5==>< ?@>F5AA5. C;LBC@0 8 ?@8@>40. C;LBC@0 8 >1I5AB2>. C;LBC@0 8 3;>10;L=K5 ?@>1;5<K A>2@5<5==>AB8. C;LBC@0 8 ;8G=>ABL. =:C;LBC@0F8O 8 A>F80;870F8O. !-.$.05.>;8B>;>38O 1J5:B, ?@54<5B 8 <5B>4 ?>;8B8G5A:>9 =0C:8. $C=:F88 ?>;8B>;>388. >;8B8G5A:0O 687=L 8 2;0AB=K5 >B=>H5=8O. >;L 8 <5AB> ?>;8B8:8 2 687=8 A>2@5<5==KE >1I5AB2. !>F80;L=K5 DC=:F88 ?>;8B8:8. AB>@8O ?>;8B8G5A:8E CG5=89. >AA89A:0O ?>;8B8G5A:0O B@048F8O: 8AB>:8, A>F8>:C;LBC@=K5 >A=>20=8O, 8AB>@8G5A:0O 48=0<8:0. !>2@5<5==K5 ?>;8B>;>38G5A:85 H:>;K. @0640=A:>5 >1I5AB2>, 53> ?@>8AE>645=85 8 >A>15==>AB8. A>15==>AB8 AB0=>2;5=8O 3@0640=A:>3> >1I5AB20 2 >AA88. =AB8BCF8>=0;L=K5 0A?5:BK ?>;8B8:8. >;8B8G5A:0O 2;0ABL. >;8B8G5A:0O A8AB5<0. >;8B8G5A:85 @568<K, ?>;8B8G5A:85 ?0@B88, M;5:B>@0;L=K5 A8AB5<K. >;8B8G5A:85 >B=>H5=8O 8 ?@>F5AAK. >;8B8G5A:85 :>=D;8:BK 8 A?>A>1K 8E @07@5H5=8O. >;8B8G5A:85 B5E=>;>388. >;8B8G5A:89 <5=546<5=B. >;8B8G5A:0O <>45@=870F8O. >;8B8G5A:85 >@30=870F88 8 42865=8O. >;8B8G5A:85 M;8BK. >;8B8G5A:>5 ;845@AB2>. !>F8>:C;LBC@=K5 0A?5:BK ?>;8B8:8. 8@>20O ?>;8B8:0 8 <564C=0@>4=K5 >B=>H5=8O. A>15==>AB8 <8@>2>3> ?>;8B8G5A:>3> ?@>F5AA0. 0F8>=0;L=>-3>AC40@AB25==K5 8=B5@5AK >AA88 2 =>2>9 35>?>;8B8G5A:>9 A8BC0F88. 5B>4>;>38O ?>7=0=8O ?>;8B8G5A:>9 @50;L=>AB8. 0@0483<K ?>;8B8G5A:>3> 7=0=8O. -:A?5@B=>5 ?>;8B8G5A:>5 7=0=85; ?>;8B8G5A:0O 0=0;8B8:0 8 ?@>3=>AB8:0. !-.$.06.@02>2545=85 >AC40@AB2> 8 ?@02>. E @>;L 2 687=8 >1I5AB20. >@<0 ?@020 8 =>@<0B82=>-?@02>2K5 0:BK. A=>2=K5 ?@02>2K5 A8AB5<K A>2@5<5==>AB8. 564C=0@>4=>5 ?@02> :0: >A>10O A8AB5<0 ?@020. AB>G=8:8 @>AA89A:>3> ?@020 0:>= 8 ?>470:>==K5 0:BK. !8AB5<0 @>AA89A:>3> ?@020. B@0A;8 ?@020. @02>=0@CH5=85 8 N@848G5A:0O >B25BAB25==>ABL. =0G5=85 70:>==>AB8 8 ?@02>?>@O4:0 2 A>2@5<5==>< >1I5AB25. @02>2>5 3>AC40@AB2>. >=AB8BCF8O >AA89A:>9 $545@0F88 - >A=>2=>9 70:>= 3>AC40@AB20. A>15==>AB8 D545@0B82=>3> CAB@>9AB20 >AA88. !8AB5<0 >@30=>2 3>AC40@AB25==>9 2;0AB8 2 >AA89A:>9 $545@0F88. >=OB85 3@0640=A:>3> ?@02>>B=>H5=8O. $878G5A:85 8 N@848G5A:85 ;8F0. @02> A>1AB25==>AB8. 1O70B5;LAB20 2 3@0640=A:>< ?@025 8 >B25BAB25==>ABL 70 8E =0@CH5=85. 0A;54AB25==>5 ?@02>. @0G=>-A5<59=K5 >B=>H5=8O. 708<=K5 ?@020 8 >1O70==>AB8 AC?@C3>2, @>48B5;59 8 45B59. B25BAB25==>ABL ?> A5<59=><C ?@02C. "@C4>2>9 4>3>2>@ (:>=B@0:B). "@C4>20O 48AF8?;8=0 8 >B25BAB25==>ABL 70 55 =0@CH5=85. 4<8=8AB@0B82=K5 ?@02>=0@CH5=8O 8 04<8=8AB@0B82=0O >B25BAB25==>ABL. >=OB85 ?@5ABC?;5=8O. #3>;>2=0O >B25BAB25==>ABL 70 A>25@H5=85 ?@5ABC?;5=89. -:>;>38G5A:>5 ?@02>. A>15==>AB8 ?@02>2>3> @53C;8@>20=8O 1C4CI59 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8. @02>2K5 >A=>2K 70I8BK 3>AC40@AB25==>9 B09=K. 0:>=>40B5;L=K5 8 =>@<0B82=>-?@02>2K5 0:BK 2 >1;0AB8 70I8BK 8=D>@<0F88 8 3>AC40@AB25==>9 B09=K. !-.$.07.A8E>;>38O 8 ?5403>38:0 A8E>;>38O: ?@54<5B, >1J5:B 8 <5B>4K ?A8E>;>388. 5AB> ?A8E>;>388 2 A8AB5<5 =0C:. AB>@8O @0728B8O ?A8E>;>38G5A:>3> 7=0=8O 8 >A=>2=K5 =0?@02;5=8O 2 ?A8E>;>388. =48284, ;8G=>ABL, AC1J5:B, 8=48284C0;L=>ABL. A8E8:0 8 >@30=87<. A8E8:0, ?>2545=85 8 45OB5;L=>ABL. A=>2=K5 DC=:F88 ?A8E8:8. 0728B85 ?A8E8:8 2 ?@>F5AA5 >=B>35=570 8 D8;>35=570. >73 8 ?A8E8:0. !B@C:BC@0 ?A8E8:8. !>>B=>H5=85 A>7=0=8O 8 15AA>7=0B5;L=>3>. A=>2=K5 ?A8E8G5A:85 ?@>F5AAK. !B@C:BC@0 A>7=0=8O. >7=020B5;L=K5 ?@>F5AAK. ICI5=85. >A?@8OB85. @54AB02;5=85. >>1@065=85. KH;5=85 8 8=B5;;5:B. "2>@G5AB2>. =8<0=85. =5<8G5A:85 ?@>F5AAK. -<>F88 8 GC2AB20. A8E8G5A:0O @53C;OF8O ?>2545=8O 8 45OB5;L=>AB8. 1I5=85 8 @5GL. A8E>;>38O ;8G=>AB8. 56;8G=>AB=K5 >B=>H5=8O. A8E>;>38O <0;KE 3@C??. 563@C??>2K5 >B=>H5=8O 8 2708<>459AB28O. 5403>38:0: >1J5:B, ?@54<5B, 7040G8, DC=:F88, <5B>4K ?5403>38:8. A=>2=K5 :0B53>@88 ?5403>38:8: >1@07>20=85, 2>A?8B0=85, >1CG5=85, ?5403>38G5A:0O 45OB5;L=>ABL, ?5403>38G5A:>5 2708<>459AB285, ?5403>38G5A:0O B5E=>;>38O, ?5403>38G5A:0O 7040G0. 1@07>20=85 :0: >1I5G5;>25G5A:0O F5==>ABL. 1@07>20=85 :0: A>F8>:C;LBC@=K9 D5=><5= 8 ?5403>38G5A:89 ?@>F5AA. 1@07>20B5;L=0O A8AB5<0 >AA88. &5;8, A>45@60=85, AB@C:BC@0 =5?@5@K2=>3> >1@07>20=8O, 548=AB2> >1@07>20=8O 8 A0<>>1@07>20=8O. 5403>38G5A:89 ?@>F5AA. 1@07>20B5;L=0O, 2>A?8B0B5;L=0O 8 @072820NI0O DC=:F88 >1CG5=8O. >A?8B0=85 2 ?5403>38G5A:>< ?@>F5AA5. 1I85 D>@<K >@30=870F88 CG51=>9 45OB5;L=>AB8. #@>:, ;5:F8O, A5<8=0@A:85, ?@0:B8G5A:85 8 ;01>@0B>@=K5 70=OB8O, 48A?CB, :>=D5@5=F8O, 70G5B, M:70<5=, D0:C;LB0B82=K5 70=OB8O, :>=AC;LB0F8O. 5B>4K, ?@8Q<K, A@54AB20 >@30=870F88 8 C?@02;5=8O ?5403>38G5A:8< ?@>F5AA><. !5<LO :0: AC1J5:B ?5403>38G5A:>3> 2708<>459AB28O 8 A>F8>:C;LBC@=0O A@540 2>A?8B0=8O 8 @0728B8O ;8G=>AB8. #?@02;5=85 >1@07>20B5;L=K<8 A8AB5<0<8. !-.$.08. CAA:89 O7K: 8 :C;LBC@0 @5G8 !B8;8 A>2@5<5==>3> @CAA:>3> ;8B5@0BC@=>3> O7K:0. /7K:>20O =>@<0, 55 @>;L 2 AB0=>2;5=88 8 DC=:F8>=8@>20=88 ;8B5@0BC@=>3> O7K:0. 5G52>5 2708<>459AB285. A=>2=K5 548=8FK >1I5=8O. #AB=0O 8 ?8AL<5==0O @07=>284=>AB8 ;8B5@0BC@=>3> O7K:0. >@<0B82=K5, :><<C=8:0B82=K5, MB8G5A:85 0A?5:BK CAB=>9 8 ?8AL<5==>9 @5G8. $C=:F8>=0;L=K5 AB8;8 A>2@5<5==>3> @CAA:>3> O7K:0. 708<>459AB285 DC=:F8>=0;L=KE AB8;59. 0CG=K9 AB8;L. !?5F8D8:0 8A?>;L7>20=8O M;5<5=B>2 @07;8G=KE O7K:>2KE C@>2=59 2 =0CG=>9 @5G8. 5G52K5 =>@<K CG51=>9 8 =0CG=>9 AD5@ 45OB5;L=>AB8. D8F80;L=>-45;>2>9 AB8;L, AD5@0 53> DC=:F8>=8@>20=8O, 60=@>2>5 @07=>>1@0785. /7K:>2K5 D>@<C;K >D8F80;L=KE 4>:C<5=B>2. @85<K C=8D8:0F88 O7K:0 A;C651=KE 4>:C<5=B>2. =B5@=0F8>=0;L=K5 A2>9AB20 @CAA:>9 >D8F80;L=>-45;>2>9 ?8AL<5==>9 @5G8. /7K: 8 AB8;L @0A?>@O48B5;L=KE 4>:C<5=B>2. /7K: 8 AB8;L :><<5@G5A:>9 :>@@5A?>=45=F88. /7K: 8 AB8;L 8=AB@C:B82=>-<5B>48G5A:8E 4>:C<5=B>2. 5:;0<0 2 45;>2>9 @5G8. @028;0 >D>@<;5=8O 4>:C<5=B>2. 5G52>9 MB8:5B 2 4>:C<5=B5. 0=@>20O 48DD5@5=F80F8O 8 >B1>@ O7K:>2KE A@54AB2 2 ?C1;8F8AB8G5A:>< AB8;5. A>15==>AB8 CAB=>9 ?C1;8G=>9 @5G8. @0B>@ 8 53> 0C48B>@8O. A=>2=K5 284K 0@3C<5=B>2. >43>B>2:0 @5G8: 2K1>@ B5<K, F5;L @5G8, ?>8A: <0B5@80;0, =0G0;>, @0725@BK20=85 8 7025@H5=85 @5G8. A=>2=K5 ?@85<K ?>8A:0 <0B5@80;0 8 284K 2A?><>30B5;L=KE <0B5@80;>2. !;>25A=>5 >D>@<;5=85 ?C1;8G=>3> 2KABC?;5=8O. >=OB;82>ABL, 8=D>@<0B82=>ABL 8 2K@078B5;L=>ABL ?C1;8G=>9 @5G8. 073>2>@=0O @5GL 2 A8AB5<5 DC=:F8>=0;L=KE @07=>284=>AB59 @CAA:>3> ;8B5@0BC@=>3> O7K:0. #A;>28O DC=:F8>=8@>20=8O @073>2>@=>9 @5G8, @>;L 2=5O7K:>2KE D0:B>@>2. C;LBC@0 @5G8. A=>2=K5 =0?@02;5=8O A>25@H5=AB2>20=8O =02K:>2 3@0<>B=>3> ?8AL<0 8 3>2>@5=8O. !-.$.09.!>F8>;>38O @54KAB>@8O 8 A>F80;L=>-D8;>A>DA:85 ?@54?>AK;:8 A>F8>;>388 :0: =0C:8. !>F8>;>38G5A:89 ?@>5:B . >=B0. ;0AA8G5A:85 A>F8>;>38G5A:85 B5>@88. !>2@5<5==K5 A>F8>;>38G5A:85 B5>@88. CAA:0O A>F8>;>38G5A:0O <KA;L. 1I5AB2> 8 A>F80;L=K5 8=AB8BCBK. 8@>20O A8AB5<0 8 ?@>F5AAK 3;>10;870F88. !>F80;L=K5 3@C??K 8 >1I=>AB8. 84K >1I=>AB59. 1I=>ABL 8 ;8G=>ABL. 0;K5 3@C??K 8 :>;;5:B82K. !>F80;L=0O >@30=870F8O. !>F80;L=K5 42865=8O. !>F80;L=>5 =5@025=AB2>, AB@0B8D8:0F8O 8 A>F80;L=0O <>18;L=>ABL. >=OB85 A>F80;L=>3> AB0BCA0. !>F80;L=>5 2708<>459AB285 8 A>F80;L=K5 >B=>H5=8O. 1I5AB25==>5 <=5=85 :0: 8=AB8BCB 3@0640=A:>3> >1I5AB20. C;LBC@0 :0: D0:B>@ A>F80;L=KE 87<5=5=89. 708<>459AB285 M:>=><8:8, A>F80;L=KE >B=>H5=89 8 :C;LBC@K. 8G=>ABL :0: A>F80;L=K9 B8?. !>F80;L=K9 :>=B@>;L 8 45280F8O. 8G=>ABL :0: 45OB5;L=K9 AC1J5:B. !>F80;L=K5 87<5=5=8O. !>F80;L=K5 @52>;NF88 8 @5D>@<K. >=F5?F8O A>F80;L=>3> ?@>3@5AA0. $>@<8@>20=85 <8@>2>9 A8AB5<K. 5AB> >AA88 2 <8@>2>< A>>1I5AB25. 5B>4K A>F8>;>38G5A:>3> 8AA;54>20=8O. !-.$.10.$8;>A>D8O @54<5B D8;>A>D88. 5AB> 8 @>;L D8;>A>D88 2 :C;LBC@5. !B0=>2;5=85 D8;>A>D88. A=>2=K5 =0?@02;5=8O, H:>;K D8;>A>D88 8 MB0?K 55 8AB>@8G5A:>3> @0728B8O. !B@C:BC@0 D8;>A>DA:>3> 7=0=8O. #G5=85 > 1KB88. >=8AB8G5A:85 8 ?;N@0;8AB8G5A:85 :>=F5?F88 1KB8O, A0<>>@30=870F8O 1KB8O. >=OB8O <0B5@80;L=>3> 8 8450;L=>3>. @>AB@0=AB2>, 2@5<O. 2865=85 8 @0728B85, 480;5:B8:0. 5B5@<8=87< 8 8=45B5@<8=87<. 8=0<8G5A:85 8 AB0B8AB8G5A:85 70:>=><5@=>AB8. 0CG=K5, D8;>A>DA:85 8 @5;838>7=K5 :0@B8=K <8@0. '5;>25:, >1I5AB2>, :C;LBC@0. '5;>25: 8 ?@8@>40. 1I5AB2> 8 53> AB@C:BC@0. @0640=A:>5 >1I5AB2> 8 3>AC40@AB2>. '5;>25: 2 A8AB5<5 A>F80;L=KE A2O759. '5;>25: 8 8AB>@8G5A:89 ?@>F5AA; ;8G=>ABL 8 <0AAK, A2>1>40 8 =5>1E>48<>ABL. $>@<0F8>==0O 8 F828;870F8>==0O :>=F5?F88 >1I5AB25==>3> @0728B8O. !<KA; G5;>25G5A:>3> 1KB8O. 0A8;85 8 =5=0A8;85. !2>1>40 8 >B25BAB25==>ABL. >@0;L, A?@0254;82>ABL, ?@02>. @02AB25==K5 F5==>AB8. @54AB02;5=8O > A>25@H5==>< G5;>25:5 2 @07;8G=KE :C;LBC@0E. -AB5B8G5A:85 F5==>AB8 8 8E @>;L 2 G5;>25G5A:>9 687=8. 5;838>7=K5 F5==>AB8 8 A2>1>40 A>25AB8. !>7=0=85 8 ?>7=0=85. !>7=0=85, A0<>A>7=0=85 8 ;8G=>ABL. >7=0=85, B2>@G5AB2>, ?@0:B8:0. 5@0 8 7=0=85. >=8<0=85 8 >1JOA=5=85. 0F8>=0;L=>5 8 8@@0F8>=0;L=>5 2 ?>7=020B5;L=>9 45OB5;L=>AB8. @>1;5<0 8AB8=K. 59AB28B5;L=>ABL, <KH;5=85, ;>38:0 8 O7K:. 0CG=>5 8 2=5=0CG=>5 7=0=85. @8B5@88 =0CG=>AB8. !B@C:BC@0 =0CG=>3> ?>7=0=8O, 53> <5B>4K 8 D>@<K. >AB =0CG=>3> 7=0=8O. 0CG=K5 @52>;NF88 8 A<5=K B8?>2 @0F8>=0;L=>AB8. 0C:0 8 B5E=8:0. C4CI55 G5;>25G5AB20. ;>10;L=K5 ?@>1;5<K A>2@5<5==>AB8. 708<>459AB285 F828;870F89 8 AF5=0@88 1C4CI53>. !-.$.11.-:>=><8:0 2545=85 2 M:>=><8G5A:CN B5>@8N. ;030. >B@51=>AB8, @5AC@AK. -:>=><8G5A:89 2K1>@. -:>=><8G5A:85 >B=>H5=8O. -:>=><8G5A:85 A8AB5<K. A=>2=K5 MB0?K @0728B8O M:>=><8G5A:>9 B5>@88. 5B>4K M:>=><8G5A:>9 B5>@88. 8:@>M:>=><8:0. K=>:. !?@>A 8 ?@54;>65=85. >B@518B5;LA:85 ?@54?>GB5=8O 8 ?@545;L=0O ?>;57=>ABL. $0:B>@K A?@>A0. =48284C0;L=K9 8 @K=>G=K9 A?@>A. -DD5:B 4>E>40 8 MDD5:B 70<5I5=8O. -;0AB8G=>ABL. @54;>65=85 8 53> D0:B>@K. 0:>= C1K20NI59 ?@545;L=>9 ?@>872>48B5;L=>AB8. -DD5:B <0AHB010. 84K 8745@65:. $8@<0. K@CG:0 8 ?@81K;L. @8=F8? <0:A8<870F88 ?@81K;8. @54;>65=85 A>25@H5==> :>=:C@5=B=>9 D8@<K 8 >B@0A;8. -DD5:B82=>ABL :>=:C@5=B=KE @K=:>2. K=>G=0O 2;0ABL. >=>?>;8O. >=>?>;8AB8G5A:0O :>=:C@5=F8O. ;83>?>;8O. =B8<>=>?>;L=>5 @53C;8@>20=85. !?@>A =0 D0:B>@K ?@>872>4AB20. K=>: B@C40. !?@>A 8 ?@54;>65=85 B@C40. 0@01>B=0O ?;0B0 8 70=OB>ABL. K=>: :0?8B0;0. @>F5=B=0O AB02:0 8 8=25AB8F88. K=>: 75<;8. 5=B0. 1I55 @02=>25A85 8 1;03>A>AB>O=85. 0A?@545;5=85 4>E>4>2. 5@025=AB2>. =5H=85 MDD5:BK 8 >1I5AB25==K5 1;030. >;L 3>AC40@AB20. 0:@>M:>=><8:0. 0F8>=0;L=0O M:>=><8:0 :0: F5;>5. @C3>>1>@>B 4>E>4>2 8 ?@>4C:B>2.  8 A?>A>1K 53> 87<5@5=8O. 0F8>=0;L=K9 4>E>4. 0A?>;0305<K9 ;8G=K9 4>E>4. =45:AK F5=. 57@01>B8F0 8 55 D>@<K. =D;OF8O 8 55 284K. -:>=><8G5A:85 F8:;K. 0:@>M:>=><8G5A:>5 @02=>25A85. !>2>:C?=K9 A?@>A 8 A>2>:C?=>5 ?@54;>65=85. !B018;870F8>==0O ?>;8B8:0. 02=>25A85 =0 B>20@=>< @K=:5. >B@51;5=85 8 A15@565=8O. =25AB8F88. >AC40@AB25==K5 @0AE>4K 8 =0;>38. -DD5:B <C;LB8?;8:0B>@0. N465B=>-=0;>3>20O ?>;8B8:0. 5=L38 8 8E DC=:F88. 02=>25A85 =0 45=56=>< @K=:5. 5=56=K9 <C;LB8?;8:0B>@. 0=:>2A:0O A8AB5<0. 5=56=>-:@548B=0O ?>;8B8:0. -:>=><8G5A:89 @>AB 8 @0728B85. 564C=0@>4=K5 M:>=><8G5A:85 >B=>H5=8O. =5H=OO B>@3>2;O 8 B>@3>20O ?>;8B8:0. ;0B56=K9 10;0=A. 0;NB=K9 :C@A. A>15==>AB8 ?5@5E>4=>9 M:>=><8:8 >AA88. @820B870F8O. $>@<K A>1AB25==>AB8. @54?@8=8<0B5;LAB2>. "5=520O M:>=><8:0. K=>: B@C40. 0A?@545;5=85 8 4>E>4K. @5>1@07>20=8O 2 A>F80;L=>9 AD5@5. !B@C:BC@=K5 A42838 2 M:>=><8:5. $>@<8@>20=85 >B:@KB>9 M:>=><8:8. !-. .00.0F8>=0;L=>-@538>=0;L=K9 (2C7>2A:89) :><?>=5=B270!-. .00.8AF8?;8=K ?> 2K1>@C ABC45=B0, CAB0=02;8205<K5 2C7><270.00.1I85 <0B5<0B8G5A:85 8 5AB5AB25==>=0CG=K5 48AF8?;8=K1853.$.00.$545@0;L=K9 :><?>=5=B1445.$.01.0B5<0B8:0 =0;8B8G5A:0O 35><5B@8O 8 ;8=59=0O 0;351@0; ?>A;54>20B5;L=>AB8 8 @O4K; 48DD5@5=F80;L=>5 8 8=B53@0;L=>5 8AG8A;5=8O; 25:B>@=K9 0=0;87 8 M;5<5=BK B5>@88 ?>;O; 30@<>=8G5A:89 0=0;87; 48DD5@5=F80;L=K5 C@02=5=8O; G8A;5==K5 <5B>4K; DC=:F88 :><?;5:A=>3> ?5@5<5==>3>. -;5<5=BK DC=:F8>=0;L=>3> 0=0;870; 25@>OB=>ABL 8 AB0B8AB8:0: B5>@8O 25@>OB=>AB59, A;CG09=K5 ?@>F5AAK, AB0B8AB8G5A:>5 >F5=820=85 8 ?@>25@:0 38?>B57, AB0B8AB8G5A:85 <5B>4K >1@01>B:8 M:A?5@8<5=B0;L=KE 40==KE. 612.$.02.=D>@<0B8:0 >=OB85 8=D>@<0F88, >1I0O E0@0:B5@8AB8:0 ?@>F5AA>2 A1>@0, ?5@540G8, >1@01>B:8 8 =0:>?;5=8O 8=D>@<0F88; B5E=8G5A:85 8 ?@>3@0<<=K5 A@54AB20 @50;870F88 8=D>@<0F8>==KE ?@>F5AA>2; <>45;8 @5H5=8O DC=:F8>=0;L=KE 8 2KG8A;8B5;L=KE 7040G; 0;3>@8B<870F8O 8 ?@>3@0<<8@>20=85; O7K:8 ?@>3@0<<8@>20=8O 2KA>:>3> C@>2=O; 107K 40==KE; ?@>3@0<<=>5 >15A?5G5=85 8 B5E=>;>388 ?@>3@0<<8@>20=8O; ;>:0;L=K5 8 3;>10;L=K5 A5B8 -; >A=>2K 70I8BK 8=D>@<0F88 8 A2545=89, A>AB02;ONI8E 3>AC40@AB25==CN B09=C; <5B>4K 70I8BK 8=D>@<0F88; :><?LNB5@=K9 ?@0:B8:C<. 204.$.03.$878:0 $878G5A:85 >A=>2K <5E0=8:8; :>;510=8O 8 2>;=K; <>;5:C;O@=0O D878:0 8 B5@<>48=0<8:0; M;5:B@8G5AB2> 8 <03=5B87<; >?B8:0; 0B><=0O 8 O45@=0O D878:0; D878G5A:89 ?@0:B8:C<. 425.$.04.%8<8O %8<8G5A:85 A8AB5<K: @0AB2>@K, 48A?5@A=K5 A8AB5<K, M;5:B@>E8<8G5A:85 A8AB5<K, :0B0;870B>@K 8 :0B0;8B8G5A:85 A8AB5<K, ?>;8<5@K 8 >;83><5@K; E8<8G5A:0O B5@<>48=0<8:0 8 :8=5B8:0: M=5@35B8:0 E8<8G5A:8E ?@>F5AA>2, E8<8G5A:>5 8 D07>2>5 @02=>25A85, A:>@>ABL @50:F88 8 <5B>4K 55 @53C;8@>20=8O, :>;510B5;L=K5 @50:F88; @50:F8>==0O A?>A>1=>ABL 25I5AB2: E8<8O 8 ?5@8>48G5A:0O A8AB5<0 M;5<5=B>2, :8A;>B=>->A=>2=K5 8 >:8A;8B5;L=>-2>AAB0=>28B5;L=K5 A2>9AB20 25I5AB2, E8<8G5A:0O A2O7L, :><?;5<5=B0@=>ABL; E8<8G5A:0O 845=B8D8:0F8O: :0G5AB25==K9 8 :>;8G5AB25==K9 0=0;87, 0=0;8B8G5A:89 A83=0;, E8<8G5A:89, D878:>-E8<8G5A:89 8 D878G5A:89 0=0;87; E8<8G5A:89 ?@0:B8:C<. 136.$.05.-:>;>38O 8>AD5@0 8 G5;>25:: AB@C:BC@0 18>AD5@K, M:>A8AB5<K, 2708<>>B=>H5=8O >@30=87<0 8 A@54K, M:>;>38O 8 74>@>2L5 G5;>25:0; 3;>10;L=K5 ?@>1;5<K >:@C60NI59 A@54K, M:>;>38G5A:85 ?@8=F8?K 8A?>;L7>20=8O ?@8@>4=KE @5AC@A>2 8 >E@0=K ?@8@>4K; >A=>2K M:>=><8:8 ?@8@>4>?>;L7>20=8O; M:>70I8B=0O B5E=8:0 8 B5E=>;>388, >A=>2K M:>;>38G5A:>3> ?@020, ?@>D5AA8>=0;L=0O >B25BAB25==>ABL; <564C=0@>4=>5 A>B@C4=8G5AB2> 2 >1;0AB8 >E@0=K >:@C60NI59 !@54K. 68. .00.0F8>=0;L=>-@538>=0;L=K9 (2C7>2A:89) :><?>=5=B204..00.8AF8?;8=K ?> 2K1>@C ABC45=B0, CAB0=02;8205<K5 2C7><2041I5?@>D5AA8>=0;L=K5 48AF8?;8=K2561.$.00.$545@0;L=K9 :><?>=5=B2278.$.01.0G5@B0B5;L=0O 35><5B@8O. =65=5@=0O 3@0D8:0 1. 0G5@B0B5;L=0O 35><5B@8O: 2545=85. @54<5B =0G5@B0B5;L=>9 35><5B@88. 040=85 B>G:8, ?@O<>9, ?;>A:>AB8 8 <=>3>3@0==8:>2 =0 :><?;5:A=>< G5@B565 >=60. >78F8>==K5 7040G8. 5B@8G5A:85 7040G8. !?>A>1K ?@5>1@07>20=8O G5@B560. =>3>3@0==8:8. @82K5 ;8=88. >25@E=>AB8. >25@E=>AB8 2@0I5=8O. 8=59G0BK5 ?>25@E=>AB8. 8=B>2K5 ?>25@E=>AB8. &8:;8G5A:85 ?>25@E=>AB8. 1>1I5==K5 ?>78F8>==K5 7040G8. 5B@8G5A:85 7040G8. >AB@>5=85 @0725@B>: ?>25@E=>AB59. 0A0B5;L=K5 ;8=88 8 ?;>A:>AB8 : ?>25@E=>AB8. :A>=><5B@8G5A:85 ?@>5:F88. 2. =65=5@=0O 3@0D8:0: >=AB@C:B>@A:0O 4>:C<5=B0F8O. D>@<;5=85 G5@B5659. -;5<5=BK 35><5B@88 45B0;59. 7>1@065=8O, =04?8A8, >1>7=0G5=8O. :A>=><5B@8G5A:85 ?@>5:F88 45B0;59. 7>1@065=8O 8 >1>7=0G5=8O M;5<5=B>2 45B0;59. 7>1@065=85 8 >1>7=0G5=85 @57L1K. 01>G85 G5@B568 45B0;59. K?>;=5=85 MA:87>2 45B0;59 <0H8=. 7>1@065=8O A1>@>G=KE 548=8F. !1>@>G=K9 G5@B56 8745;89. ><?LNB5@=0O 3@0D8:0, 35><5B@8G5A:>5 <>45;8@>20=85 8 @5H05<K5 8<8 7040G8; 3@0D8G5A:85 >1J5:BK, ?@8<8B82K 8 8E 0B@81CBK; ?@54AB02;5=85 2845>8=D>@<0F88 8 5Q <0H8==0O 35=5@0F8O; 3@0D8G5A:85 O7K:8; <5B0D09;K; 0@E8B5:BC@0 3@0D8G5A:8E B5@<8=0;>2 8 3@0D8G5A:8E @01>G8E AB0=F89; @50;870F8O 0??0@0B=>-?@>3@0<<=KE <>4C;59 3@0D8G5A:>9 A8AB5<K; 107>20O 3@0D8:0; ?@>AB@0=AB25==0O 3@0D8:0; A>2@5<5==K5 AB0=40@BK :><?LNB5@=>9 3@0D8:8; 3@0D8G5A:85 480;>3>2K5 A8AB5<K; ?@8<5=5=85 8=B5@0:B82=KE 3@0D8G5A:8E A8AB5<. 272.$.02.5E0=8:0799.$.02.01"5>@5B8G5A:0O <5E0=8:0 8=5<0B8:0. @54<5B :8=5<0B8:8. 5:B>@=K9 A?>A>1 7040=8O 42865=8O B>G:8. AB5AB25==K9 A?>A>1 7040=8O 42865=8O B>G:8. >=OB85 >1 01A>;NB=> B25@4>< B5;5. @0I5=85 B25@4>3> B5;0 2>:@C3 =5?>4286=>9 >A8. ;>A:>5 42865=85 B25@4>3> B5;0 8 42865=85 ?;>A:>9 D83C@K 2 55 ?;>A:>AB8. 2865=85 B25@4>3> B5;0 2>:@C3 =5?>4286=>9 B>G:8 8;8 AD5@8G5A:>5 42865=85. 1I89 A;CG09 42865=8O A2>1>4=>3> B25@4>3> B5;0. 1A>;NB=>5 8 >B=>A8B5;L=>5 42865=85 B>G:8. !;>6=>5 42865=85 B25@4>3> B5;0. 8=0<8:0 8 M;5<5=BK AB0B8:8. @54<5B 48=0<8:8 8 AB0B8:8. 0:>=K <5E0=8:8 0;8;5O-LNB>=0. 040G8 48=0<8:8. !2>1>4=K5 ?@O<>;8=59=K5 :>;510=8O <0B5@80;L=>9 B>G:8. B=>A8B5;L=>5 42865=85 <0B5@80;L=>9 B>G:8. 5E0=8G5A:0O A8AB5<0. 0AA0 A8AB5<K. 8DD5@5=F80;L=K5 C@02=5=8O 42865=8O <5E0=8G5A:>9 A8AB5<K. >;8G5AB2> 42865=8O <0B5@80;L=>9 B>G:8 8 <5E0=8G5A:>9 A8AB5<K. ><5=B :>;8G5AB20 42865=8O <0B5@80;L=>9 B>G:8 >B=>A8B5;L=> F5=B@0 8 >A8. 8=5B8G5A:0O M=5@38O <0B5@80;L=>9 B>G:8 8 <5E0=8G5A:>9 A8AB5<K. >=OB85 > A8;>2>< ?>;5. !8AB5<0 A8;. =0;8B8G5A:85 CA;>28O @02=>25A8O ?@>872>;L=>9 A8AB5<K A8;. &5=B@ BO65AB8 B25@4>3> B5;0 8 53> :>>@48=0BK. @8=F8? 0;0<15@0 4;O <0B5@80;L=>9 B>G:8. 8DD5@5=F80;L=K5 C@02=5=8O ?>ABC?0B5;L=>3> 42865=8O B25@4>3> B5;0. ?@545;5=85 48=0<8G5A:8E @50:F89 ?>4H8?=8:>2 ?@8 2@0I5=88 B25@4>3> B5;0 2>:@C3 =5?>4286=>9 >A8. 2865=85 B25@4>3> B5;0 2>:@C3 =5?>4286=>9 B>G:8 -;5<5=B0@=0O B5>@8O 38@>A:>?0. !2O78 8 8E C@02=5=8O. @8=F8? 2>7<>6=KE ?5@5<5I5=89. 1>1I5==K5 :>>@48=0BK A8AB5<K. 8DD5@5=F80;L=K5 C@02=5=8O 42865=8O <5E0=8G5A:>9 A8AB5<K 2 >1>1I5==KE :>>@48=0B0E 8;8 C@02=5=8O 03@0=60 2B>@>3> @>40. @8=F8? 0<8;LB>=0-AB@>3@04A:>3>. >=OB85 >1 CAB>9G82>AB8 @02=>25A8O. 0;K5 A2>1>4=K5 :>;510=8O <5E0=8G5A:>9 A8AB5<K A 42C<O (8;8 n) AB5?5=O<8 A2>1>4K 8 8E A2>9AB20, A>1AB25==K5 G0AB>BK 8 :>MDD8F85=BK D>@<K. /2;5=85 C40@0. "5>@5<0 >1 87<5=5=88 :8=5B8G5A:>3> <><5=B0 <5E0=8G5A:>9 A8AB5<K ?@8 C40@5.204.$.02.02!>?@>B82;5=85 <0B5@80;>2 A=>2=K5 ?>=OB8O. 5B>4 A5G5=89. &5=B@0;L=>5 @0ABO65=85  A60B85. !4283. 5><5B@8G5A:85 E0@0:B5@8AB8:8 A5G5=89. @O<>9 ?>?5@5G=K9 87381. @CG5=85. >A>9 87381, 2=5F5=B@5==>5 @0ABO65=85  A60B85. -;5<5=BK @0F8>=0;L=>3> ?@>5:B8@>20=8O ?@>AB59H8E A8AB5<. 0AG5B AB0B8G5A:8 >?@545;8<KE AB5@6=52KE A8AB5<. 5B>4 A8;, @0AG5B AB0B8G5A:8 =5>?@545;8<KE AB5@6=52KE A8AB5<. =0;87 =0?@O65==>3> 8 45D>@<8@>20==>3> A>AB>O=8O 2 B>G:5 B5;0. !;>6=>5 A>?@>B82;5=85, @0AG5B ?> B5>@8O< ?@>G=>AB8. 0AG5B 157<><5=B=KE >1>;>G5: 2@0I5=8O. #AB>9G82>ABL AB5@6=59. @>4>;L=>-?>?5@5G=K9 87381. 0AG5B 4286CI8EAO A CA:>@5=85< M;5<5=B>2 :>=AB@C:F89. #40@. #AB0;>ABL. 0AG5B ?> =5ACI59 A?>A>1=>AB8. 187.$.02.035B0;8 <0H8= 8 >A=>2K :>=AB@C8@>20=8O ;0AA8D8:0F8O <5E0=87<>2, C7;>2 8 45B0;59. A=>2K ?@>5:B8@>20=8O <5E0=87<>2, AB0488 @07@01>B:8. "@51>20=8O : 45B0;O<, :@8B5@88 @01>B>A?>A>1=>AB8 8 2;8ONI85 =0 =8E D0:B>@K. 5E0=8G5A:85 ?5@540G8: 7C1G0BK5, G5@2OG=K5, ?;0=5B0@=K5, 2>;=>2K5, @KG06=K5, D@8:F8>==K5, @5<5==K5, F5?=K5, ?5@540G8 28=B-309:0; @0AG5BK ?5@540G =0 ?@>G=>ABL. 0;K 8 >A8, :>=AB@C:F8O 8 @0AG5BK =0 ?@>G=>ABL 8 65AB:>ABL. >4H8?=8:8 :0G5=8O 8 A:>;L65=8O, 2K1>@ 8 @0AG5BK =0 ?@>G=>ABL. #?;>B=8B5;L=K5 CAB@>9AB20. >=AB@C:F88 ?>4H8?=8:>2KE C7;>2. !>548=5=8O 45B0;59: @57L1>2K5, 70:;5?>G=K5, A20@=K5, ?0O=K5, :;552K5, A =0BO3><, H?>=>G=K5, 7C1G0BK5, HB8DB>2K5, :;5<<>2K5, ?@>D8;L=K5; :>=AB@C:F8O 8 @0AG5BK A>548=5=89 =0 ?@>G=>ABL. #?@C385 M;5<5=BK. CDBK <5E0=8G5A:8E ?@82>4>2. >@?CA=K5 45B0;8 <5E0=87<>2. 170.$.02.04"5>@8O <5E0=87<>2 8 <0H8= A=>2=K5 ?>=OB8O B5>@88 <5E0=87<>2 8 <0H8=. A=>2=K5 284K <5E0=87<>2. !B@C:BC@=K9 0=0;87 8 A8=B57 <5E0=87<>2. 8=5<0B8G5A:89 0=0;87 8 A8=B57 <5E0=87<>2. 8=5B>AB0B8G5A:89 0=0;87 <5E0=87<>2. 8=0<8G5A:89 0=0;87 8 A8=B57 <5E0=87<>2. >;510=8O 2 <5E0=87<0E. 8=59=K5 C@02=5=8O 2 <5E0=87<0E. 5;8=59=K5 C@02=5=8O 42865=8O 2 <5E0=87<0E. >;510=8O 2 @KG06=KE 8 :C;0G:>2KE <5E0=87<0E. 81@0F8>==K5 B@0=A?>@B5@K. 81@0F8O. 8=0<8G5A:>5 30H5=85 :>;510=89. 8=0<8:0 ?@82>4>2. -;5:B@>?@82>4 <5E0=87<>2. 84@>?@82>4 <5E0=87<>2. =52<>?@82>4 <5E0=87<>2. K1>@ B8?0 ?@82>4>2. !8=B57 @KG06=KE <5E0=87<>2. 5B>4K >?B8<870F88 2 A8=B575 <5E0=87<>2 A ?@8<5=5=85< -. !8=B57 <5E0=87<>2 ?> <5B>4C ?@81;865=8O DC=:F89. !8=B57 ?5@540B>G=KE <5E0=87<>2. !8=B57 ?> ?>;>65=8O< 725=L52. !8=B57 =0?@02;ONI8E <5E0=87<>2. 119.$.02.0584@02;8:0 2>4=K5 A2545=8O. A=>2=K5 D878G5A:85 A2>9AB20 684:>AB59 8 307>2. A=>2K :8=5<0B8:8. 1I85 70:>=K 8 C@02=5=8O AB0B8:8 8 48=0<8:8 684:>AB59 8 307>2. !8;K, 459AB2CNI85 2 684:>ABOE. 1A>;NB=K9 8 >B=>A8B5;L=K9 ?>:>9 (@02=>25A85) 684:8E A@54. >45;L 8450;L=>9 (=52O7:>9) 684:>AB8. 1I0O 8=B53@0;L=0O D>@<0 C@02=5=89 :>;8G5AB20 42865=8O 8 <><5=B0 :>;8G5AB20 42865=8O. >4>185 384@><5E0=8G5A:8E ?@>F5AA>2. 1I55 C@02=5=85 M=5@388 2 8=B53@0;L=>9 8 48DD5@5=F80;L=>9 D>@<0E. "C@1C;5=B=>ABL 8 55 >A=>2=K5 AB0B8AB8G5A:85 E0@0:B5@8AB8:8. >=5G=>-@07=>AB=K5 D>@<K C@02=5=89 02L5-!B>:A0 8 59=>;L4A0. 1I0O AE5<0 ?@8<5=5=8O G8A;5==KE <5B>4>2 8 8E @50;870F8O =0 -. 4=><5@=K5 ?>B>:8 684:>AB59 8 307>2. 119.$.03.0B5@80;>2545=85. "5E=>;>38O :>=AB@C:F8>==KE <0B5@80;>2357.$.03.010B5@80;>2545=85 !B@>5=85 <5B0;;>2, 48DDC78>==K5 ?@>F5AAK 2 <5B0;;5, D>@<8@>20=85 AB@C:BC@K <5B0;;>2 8 A?;02>2 ?@8 :@8AB0;;870F88, ?;0AB8G5A:0O 45D>@<0F8O, 2;8O=85 =03@520 =0 AB@C:BC@C 8 A2>9AB20 45D>@<8@>20==>3> <5B0;;0, <5E0=8G5A:85 A2>9AB20 <5B0;;>2 8 A?;02>2. >=AB@C:F8>==K5 <5B0;;K 8 A?;02K. "5>@8O 8 B5E=>;>38O B5@<8G5A:>9 >1@01>B:8 AB0;8. %8<8:>-B5@<8G5A:0O >1@01>B:0. 0@>?@>G=K5, 87=>A>AB>9:85, 8=AB@C<5=B0;L=K5 8 HB0<?>2>G=K5 A?;02K. -;5:B@>B5E=8G5A:85 <0B5@80;K, @578=0, ?;0AB<0AAK. 119.$.03.02"5E=>;>38O :>=AB@C:F8>==KE <0B5@80;>2 2>4=0O G0ABL. "5>@5B8G5A:85 8 B5E=>;>38G5A:85 >A=>2K ?@>872>4AB20 <0B5@80;>2. 0B5@80;K, ?@8<5=O5<K5 2 <0H8=>AB@>5=88 8 ?@81>@>AB@>5=88. >;CG5=85 <5B0;;8G5A:8E <0B5@80;>2 2 G5@=>9 8 F25B=>9 <5B0;;C@388. A=>2K ?>@>H:>2>9 <5B0;;C@388. 0?K;5=85 <0B5@80;>2. "5>@8O 8 ?@0:B8:0 D>@<>>1@07>20=8O 703>B>2>:. ;0AA8D8:0F8O A?>A>1>2 ?>;CG5=8O 703>B>2>:. @>872>4AB2> 703>B>2>: A?>A>1>< ;8BLO. @>872>4AB2> 703>B>2>: ?;0AB8G5A:8< 45D>@<8@>20=85<. @>872>4AB2> =5@07J5<=KE A>548=5=89. !20@>G=>5 ?@>872>4AB2>. $878:>-E8<8G5A:85 >A=>2K ?>;CG5=8O A20@>G=>3> A>548=5=8O. 09:0 <0B5@80;>2. >;CG5=85 =5@07J5<=KE A>548=5=89 A:;5820=85<. 73>B>2;5=85 ?>;CD01@8:0B>2 8 45B0;59 87 :><?>78F8>==KE <0B5@80;>2. $878:>B5E=>;>38G5A:85 >A=>2K ?>;CG5=8O :><?>78F8>==KE <0B5@80;>2. 73>B>2;5=85 8745;89 87 <5B0;;8G5A:8E :><?>78F8>==KE <0B5@80;>2. A>15==>AB8 ?>;CG5=8O 45B0;59 87 :><?>78F8>==KE ?>@>H:>2KE <0B5@80;>2. 73>B>2;5=85 ?>;CD01@8:0B>2 8 8745;89 87 M2B5:B8G5A:8E :><?>78F8>==KE <0B5@80;>2. 73>B>2;5=85 45B0;59 87 ?>;8<5@=KE :><?>78F8>==KE <0B5@80;>2. 73>B>2;5=85 @578=>2KE 45B0;59 8 ?>;CD01@8:0B>2. $>@<>>1@07>20=85 ?>25@E=>AB59 45B0;59 @570=85<, M;5:B@>D878G5A:8<8 8 M;5:B@>E8<8G5A:8<8 A?>A>10<8 >1@01>B:8. 8=5<0B8G5A:85 8 35><5B@8G5A:85 ?0@0<5B@K ?@>F5AA0 @570=8O. $878:>-E8<8G5A:85 >A=>2K @570=8O. 1@01>B:0 ;57289=K< 8=AB@C<5=B><. 1@01>B:0 ?>25@E=>AB59 45B0;59 01@0782=K< 8=AB@C<5=B><. #A;>285 =5?@5@K2=>AB8 8 A0<>70B0G8205<>AB8. -;5:B@>D878G5A:85 8 M;5:B@>E8<8G5A:85 <5B>4K >1@01>B:8 ?>25@E=>AB59 703>B>2>:. K1>@ A?>A>10 >1@01>B:8. 238.$.04.-;5:B@>B5E=8:0 8 M;5:B@>=8:0 A=>2=K5 ?>=OB8O 8 70:>=K M;5:B@><03=8B=>3> ?>;O 8 B5>@88 M;5:B@8G5A:8E 8 <03=8B=KE F5?59; B5>@8O ;8=59=KE M;5:B@8G5A:8E F5?59 (F5?8 ?>AB>O==>3>, A8=CA>840;L=>3> 8 =5A8=CA>840;L=>3> B>:>2), <5B>4K 0=0;870 ;8=59=KE F5?59 A 42CE?>;NA=K<8 8 <=>3>?>;NA=K<8 M;5<5=B0<8; B@5ED07=K5 F5?8; ?5@5E>4=K5 ?@>F5AAK 2 ;8=59=KE F5?OE 8 <5B>4K 8E @0AG5B0; =5;8=59=K5 M;5:B@8G5A:85 8 <03=8B=K5 F5?8 ?>AB>O==>3> 8 ?5@5<5==>3> B>:0; ?5@5E>4=K5 ?@>F5AAK 2 =5;8=59=KE F5?OE; 0=0;8B8G5A:85 8 G8A;5==K5 <5B>4K 0=0;870 =5;8=59=KE F5?59; F5?8 A @0A?@545;5==K<8 ?0@0<5B@0<8 (CAB0=>282H89AO 8 ?5@5E>4=K9 @568<K); F8D@>2K5 (48A:@5B=K5) F5?8 8 8E E0@0:B5@8AB8:8; B5>@8O M;5:B@><03=8B=>3> ?>;O, M;5:B@>AB0B8G5A:>5 ?>;5; AB0F8>=0@=>5 M;5:B@8G5A:>5 8 <03=8B=>5 ?>;O; ?5@5<5==>5 M;5:B@><03=8B=>5 ?>;5; ?>25@E=>AB=K9 MDD5:B 8 MDD5:B 1;87>AB8; M;5:B@><03=8B=>5 M:@0=8@>20=85; G8A;5==K5 <5B>4K @0AG5B0 M;5:B@><03=8B=KE ?>;59 ?@8 A;>6=KE 3@0=8G=KE CA;>28OE; A>2@5<5==K5 ?0:5BK ?@8:;04=KE ?@>3@0<< @0AG5B0 M;5:B@8G5A:8E F5?59 8 M;5:B@><03=8B=KE ?>;59 =0 -. -;5:B@8G5A:85 8 <03=8B=K5 F5?8. A=>2=K5 >?@545;5=8O, B>?>;>38G5A:85 ?0@0<5B@K 8 <5B>4K @0AG5B0 M;5:B@8G5A:8E F5?59. =0;87 8 @0AG5B ;8=59=KE F5?59 ?5@5<5==>3> B>:0. =0;87 8 @0AG5B M;5:B@8G5A:8E F5?59 A =5;8=59=K<8 M;5<5=B0<8. =0;87 8 @0AG5B <03=8B=KE F5?59. -;5:B@><03=8B=K5 CAB@>9AB20 8 M;5:B@8G5A:85 <0H8=K. -;5:B@><03=8B=K5 CAB@>9AB20. "@0=AD>@<0B>@K. 0H8=K ?>AB>O==>3> B>:0 ("). A8=E@>==K5 <0H8=K. !8=E@>==K5 <0H8=K. A=>2K M;5:B@>=8:8 8 M;5:B@8G5A:85 87<5@5=8O. -;5<5=B=0O 1070 A>2@5<5==KE M;5:B@>==KE CAB@>9AB2. AB>G=8:8 2B>@8G=>3> M;5:B@>?8B0=8O. #A8;8B5;8 M;5:B@8G5A:8E A83=0;>2. <?C;LA=K5 8 02B>35=5@0B>@=K5 CAB@>9AB20. A=>2K F8D@>2>9 M;5:B@>=8:8. 8:@>?@>F5AA>@=K5 A@54AB20. -;5:B@8G5A:85 87<5@5=8O 8 ?@81>@K. 238.$.05.0I8B0 8=B5;;5:BC0;L=>9 A>1AB25==>AB8 >=OB85 8=B5;;5:BC0;L=>9 A>1AB25==>AB8. 2B>@A:>5 ?@02>, A<56=K5 ?@020, 8=B5;;5:BC0;L=0O ?@><KH;5==0O A>1AB25==>ABL. 538>=0;L=K5 ?0B5=B=K5 A8AB5<K. A>15==>AB8 @538>=0;L=KE A8AB5<. 564C=0@>4=0O ?0B5=B=0O A8AB5<0. 2@>?59A:0O @538>=0;L=0O ?0B5=B=0O A8AB5<0. 2@0789A:0O @538>=0;L=0O ?0B5=B=0O A8AB5<0. A5<8@=0O >@30=870F8O 8=B5;;5:BC0;L=>9 A>1AB25==>AB8 (!). 564C=0@>4=K5 :>=25=F88 ?> 2>?@>A0< 8=B5;;5:BC0;L=>9 A>1AB25==>AB8. 0B5=B=>5 70:>=>40B5;LAB2> >AA88. 1J5:BK 8=B5;;5:BC0;L=>9 A>1AB25==>AB8. 7>1@5B5=85. @020 87>1@5B0B5;59 8 ?@02>20O >E@0=0 87>1@5B5=89. 0O2:0 =0 87>1@5B5=85 8 55 M:A?5@B870. >;57=0O <>45;L. 0O2:0 =0 ?>;57=CN <>45;L 8 55 M:A?5@B870. @02>20O >E@0=0 ?>;57=>9 <>45;8. ">20@=K5 7=0:8. 0O2:0 8 M:A?5@B870 70O2:8 =0 B>20@=K9 7=0:. @020 2;045;LF52 8 ?@02>20O >E@0=0 B>20@=KE 7=0:>2. @><KH;5==K5 >1@07FK. 0O2:0 =0 ?@><KH;5==K9 >1@075F 8 55 M:A?5@B870. @020 2;045;LF52 8 ?@02>20O >E@0=0 ?@><KH;5==KE >1@07F>2. 54>1@>A>25AB=0O :>=:C@5=F8O. 0I8B0 >B =54>1@>A>25AB=>9 :>=:C@5=F88. @02>20O >E@0=0 ?@>3@0<< 4;O - 8 107 40==KE. 538AB@0F8O ?@>3@0<< 4;O - 8 107 40==KE. @020 02B>@>2. 564C=0@>4=0O B>@3>2;O ;8F5=78O<8 =0 >1J5:BK 8=B5;;5:BC0;L=>9 A>1AB25==>AB8. @54;8F5=78>==K5 4>3>2>@K. >3>2>@ >1 >F5=:5 B5E=>;>388. >3>2>@ > A>B@C4=8G5AB25. >3>2>@ > ?0B5=B=>9 G8AB>B5. 84K ;8F5=78>==KE A>3;0H5=89. $@0=H870. >3>2>@ :><<5@G5A:>9 :>=F5AA88. A:;NG8B5;L=0O ;8F5=78O. !>F8>;>38G5A:85 0A?5:BK 8=B5;;5:BC0;L=>9 A>1AB25==>AB8. >7459AB285 =0 E>4 A>F80;L=>-M:>=><8G5A:>3> 8 4CE>2=>3> ?@>3@5AA0. 68.$.06.5B@>;>38O, AB0=40@B870F8O 8 A5@B8D8:0F8O "5>@5B8G5A:85 >A=>2K <5B@>;>388. A=>2=K5 ?>=OB8O, A2O70==K5 A >1J5:B0<8 87<5@5=8O: A2>9AB2>, 25;8G8=0, :>;8G5AB25==K5 8 :0G5AB25==K5 ?@>O2;5=8O A2>9AB2 >1J5:B>2 <0B5@80;L=>3> <8@0. A=>2=K5 ?>=OB8O, A2O70==K5 A> A@54AB20<8 87<5@5=89 (!). 0:>=><5@=>AB8 D>@<8@>20=8O @57C;LB0B0 87<5@5=8O, ?>=OB85 ?>3@5H=>AB8, 8AB>G=8:8 ?>3@5H=>AB59. >=OB85 <=>3>:@0B=>3> 87<5@5=8O. ;3>@8B<K >1@01>B:8 <=>3>:@0B=KE 87<5@5=89. >=OB85 <5B@>;>38G5A:>3> >15A?5G5=8O. @30=870F8>==K5, =0CG=K5 8 <5B>48G5A:85 >A=>2K <5B@>;>38G5A:>3> >15A?5G5=8O. @02>2K5 >A=>2K >15A?5G5=8O 548=AB20 87<5@5=89. A=>2=K5 ?>;>65=8O 70:>=0 $ >1 >15A?5G5=88 548=AB20 87<5@5=89. !B@C:BC@0 8 DC=:F88 <5B@>;>38G5A:>9 A;C61K ?@54?@8OB8O, >@30=870F88, CG@5645=8O, O2;ONI8EAO N@848G5A:8<8 ;8F0<8. ">G=>ABL 45B0;59, C7;>2 8 <5E0=87<>2; @O4K 7=0G5=89 35><5B@8G5A:8E ?0@0<5B@>2; 284K A>?@O65=89 2 B5E=8:5; >B:;>=5=8O, 4>?CA:8 8 ?>A04:8; @0AG5B 8 2K1>@ ?>A04>:; 548=0O A8AB5<0 =>@<8@>20=8O 8 AB0=40@B870F88 ?>:070B5;59 B>G=>AB8; @07<5@=K5 F5?8 8 <5B>4K 8E @0AG5B0; @0AG5B B>G=>AB8 :8=5<0B8G5A:8E F5?59; =>@<8@>20=85 <8:@>=5@>2=>AB59 45B0;59; :>=B@>;L 35><5B@8G5A:>9 8 :8=5<0B8G5A:>9 B>G=>AB8 45B0;59, C7;>2 8 <5E0=87<>2. AB>@8G5A:85 >A=>2K @0728B8O AB0=40@B870F88 8 A5@B8D8:0F88. !5@B8D8:0F8O, 55 @>;L 2 ?>2KH5=88 :0G5AB20 ?@>4C:F88 8 @0728B85 =0 <564C=0@>4=><, @538>=0;L=>< 8 =0F8>=0;L=>< C@>2=OE. @02>2K5 >A=>2K AB0=40@B870F88. 564C=0@>4=0O >@30=870F8O ?> AB0=40@B870F88 (!). A=>2=K5 ?>;>65=8O 3>AC40@AB25==>9 A8AB5<K AB0=40@B870F88 !!. 0CG=0O 1070 AB0=40@B870F88. ?@545;5=85 >?B8<0;L=>3> C@>2=O C=8D8:0F88 8 AB0=40@B870F88. >AC40@AB25==K9 :>=B@>;L 8 =047>@ 70 A>1;N45=85< B@51>20=89 3>AC40@AB25==KE AB0=40@B>2. A=>2=K5 F5;8 8 >1J5:BK A5@B8D8:0F88. "5@<8=K 8 >?@545;5=8O 2 >1;0AB8 A5@B8D8:0F88 0G5AB2> ?@>4C:F88 8 70I8B0 ?>B@518B5;O. !E5<K 8 A8AB5<K A5@B8D8:0F88. #A;>28O >ACI5AB2;5=8O A5@B8D8:0F88. 1O70B5;L=0O 8 4>1@>2>;L=0O A5@B8D8:0F8O. @028;0 8 ?>@O4>: ?@>2545=8O A5@B8D8:0F88. @30=K ?> A5@B8D8:0F88 8 8A?KB0B5;L=K5 ;01>@0B>@88. ::@548B0F8O >@30=>2 ?> A5@B8D8:0F88 8 8A?KB0B5;L=KE (87<5@8B5;L=KE) ;01>@0B>@89. !5@B8D8:0F8O CA;C3. !5@B8D8:0F8O A8AB5< :0G5AB20. 708<>70<5=O5<>ABL. ">G=>ABL 45B0;59, C7;>2 8 <5E0=87<>2; @O4K 7=0G5=89 35><5B@8G5A:8E ?0@0<5B@>2; 284K A>?@O65=89 2 B5E=8:5; >B:;>=5=8O, 4>?CA:8 8 ?>A04:8; @0AG5B 8 2K1>@ ?>A04>:; 548=0O A8AB5<0 =>@<8@>20=8O 8 AB0=40@B870F88 ?>:070B5;59 B>G=>AB8; @07<5@=K5 F5?8 8 <5B>4K 8E @0AG5B0; @0AG5B B>G=>AB8 :8=5<0B8G5A:8E F5?59; =>@<8@>20=85 <8:@>=5@>2=>AB59 45B0;59; :>=B@>;L 35><5B@8G5A:>9 8 :8=5<0B8G5A:>9 B>G=>AB8 45B0;59, C7;>2 8 <5E0=87<>2. 119.$.07.57>?0A=>ABL 687=545OB5;L=>AB8 '5;>25: 8 A@540 >18B0=8O. %0@0:B5@=K5 A>AB>O=8O A8AB5<K  G5;>25: - A@540 >18B0=8O . A=>2K D878>;>388 B@C40 8 :><D>@B=K5 CA;>28O 687=545OB5;L=>AB8 2 B5E=>AD5@5. @8B5@88 :><D>@B=>AB8. 530B82=K5 D0:B>@K B5E=>AD5@K, 8E 2>7459AB285 =0 G5;>25:0, B5E=>AD5@C 8 ?@8@>4=CN A@54C. @8B5@88 157>?0A=>AB8. ?0A=>AB8 B5E=8G5A:8E A8AB5<: >B:07, 25@>OB=>ABL >B:070, :0G5AB25==K9 8 :>;8G5AB25==K9 0=0;87 >?0A=>AB59. !@54AB20 A=865=8O B@02<>>?0A=>AB8 8 2@54=>3> 2>7459AB28O B5E=8G5A:8E A8AB5<. 57>?0A=>ABL DC=:F8>=8@>20=8O 02B><0B878@>20==KE 8 @>1>B878@>20==KE ?@>872>4AB2. 57>?0A=>ABL 2 G@572KG09=KE A8BC0F8OE. #?@02;5=85 157>?0A=>ABLN 687=545OB5;L=>AB8. @02>2K5 8 =>@<0B82=>-B5E=8G5A:85 >A=>2K C?@02;5=8O. !8AB5<K :>=B@>;O B@51>20=89 157>?0A=>AB8 8 M:>;>38G=>AB8. @>D5AA8>=0;L=K9 >B1>@ >?5@0B>@>2 B5E=8G5A:8E A8AB5<. -:>=><8G5A:85 ?>A;54AB28O 8 <0B5@80;L=K5 70B@0BK =0 >15A?5G5=85 157>?0A=>AB8 687=545OB5;L=>AB8. 564C=0@>4=>5 A>B@C4=8G5AB2> 2 >1;0AB8 157>?0A=>AB8 687=545OB5;L=>AB8. @0640=A:0O >1>@>=0 8 G@572KG09=K5 A8BC0F88 '@572KG09=K5 A8BC0F88 ('!) <8@=>3> 8 2>5==>3> 2@5<5=8; ?@>3=>78@>20=85 8 >F5=:0 ?>@060NI8E D0:B>@>2 '!; 3@0640=A:0O >1>@>=0 8 70I8B0 =0A5;5=8O 8 B5@@8B>@89 2 G@572KG09=KE A8BC0F8OE; CAB>9G82>ABL DC=:F8>=8@>20=8O >1J5:B>2 M:>=><8:8 2 '!; ;8:2840F8O ?>A;54AB289 G@572KG09=KE A8BC0F89; >A>15==>AB8 70I8BK 8 ;8:2840F88 ?>A;54AB289 '!, =0 >1J5:B0E >B@>A;8. 136.$.08.#?@02;5=85 B5E=8G5A:8<8 A8AB5<0<8 A=>2=K5 ?>=OB8O 8 >?@545;5=8O. A=>2=K5 DC=:F8>=0;L=K5 1;>:8 A8AB5< 02B><0B8G5A:>3> C?@02;5=8O (!#). -;5<5=BK AB@C:BC@=KE AE5<, ?@8=F8? 459AB28O A8AB5< 02B><0B8G5A:>3> @53C;8@>20=8O (! ). "5E=8G5A:85 A@54AB20 !  8 8E :;0AA8D8:0F8O ?> DC=:F8>=0;L=><C =07=0G5=8N. 0B5<0B8G5A:>5 >?8A0=85 A8AB5< C?@02;5=8O. >45;8 48=0<8G5A:8E C?@02;O5<KE >1J5:B>2. #@02=5=85 03@0=60; 48DD5@5=F80;L=K5 C@02=5=8O B8?>2KE C?@02;O5<KE ?@>F5AA>2 8 B5E=8G5A:8E >1J5:B>2. #AB0=>282H85AO 48=0<8G5A:85 ?@>F5AAK 2 B5E=8G5A:8E A8AB5<0E. >=OB85 A>AB>O=8O; C@02=5=8O A>AB>O=8O ;8=59=KE <>45;59 48=0<8G5A:8E A8AB5<; <0B@8F0 ?5@5E>40; 25A>20O <0B@8F0 8<?C;LA=0O ?5@5E>4=0O DC=:F8O. >=OB85 >1 C?@02;O5<>AB8 8 =01;N405<>AB8 48=0<8G5A:8E A8AB5<. #@02=5=85 2 ?5@5<5==KE 2E>4-2KE>4; 2KG8A;5=85 ?5@540B>G=KE DC=:F89 >4=><5@=KE 8 <=>3><5@=KE A8AB5<. "8?>2K5 725=LO; AB@C:BC@=K5 AE5<K !#; ?@8<5=5=85 3@0D>2 4;O >B>1@065=8O A8AB5<K !#. "8?>2K5 ?5@540B>G=K5 DC=:F88 ! . 5;8=59=K5 <>45;8 =5?@5@K2=>-48A:@5B=KE A8AB5< C?@02;5=8O. !8=B57 :>@@5:B8@CNI8E CAB@>9AB2. 8:@>?@>F5AA>@K 2 B5E=8G5A:8E A8AB5<0E C?@02;5=8O. #?@02;5=85 A;>6=K<8 B5E=8G5A:8<8 >1J5:B0<8. 102.$.09.-:>=><8:0 <0H8=>AB@>8B5;L=>3> ?@>872>4AB20 -:>=><8G5A:85 >A=>2K ?@>872>4AB20 8 @5AC@AK ?@54?@8OB89: >A=>2=K5 D>=4K, >1>@>B=K5 A@54AB20, ?5@A>=0;, >?;0B0 B@C40, ?;0=8@>20=85 70B@0B, D8=0=A8@>20=85 8==>20F8>==>9 45OB5;L=>AB8, B5E=8:>-M:>=><8G5A:89 0=0;87 8=65=5@=KE @5H5=89, <>45;8@>20=85; :><<5@G5A:0O 45OB5;L=>ABL ?@54?@8OB89: N@848G5A:85 >A=>2K, D8=0=A>2K5 >B=>H5=8O, =0;>3>>1;>65=85, 2=5H=5M:>=><8G5A:0O 45OB5;L=>ABL. 102.$.10.@30=870F8O ?@>872>4AB20 8 <5=546<5=B "8?K ?@>872>4AB20 8 8E B5E=8:>-M:>=><8G5A:85 E0@0:B5@8AB8:8. @>F5AA A>740=8O 8 >A2>5=8O =>2>9 B5E=8:8. @30=870F8O  , :>=AB@C:B>@A:0O 8 B5E=>;>38G5A:0O ?>43>B>2:0 ?@>872>4AB20. !5B52>5 ?;0=8@>20=85 8 C?@02;5=85 B5E=8G5A:>9 ?>43>B>2:>9 ?@>872>4AB20. $C=:F8>=0;L=>-AB>8<>AB=>9 0=0;87. 040G8 >@30=870F88 B@C40; =>@<8@>20=85 B@C40; =>@<0B82=0O 1070 =>@<8@>20=8O B@C40 "  8 A;C60I8E. @>872>4AB25==K9 ?@>F5AA 8 53> AB@C:BC@0. >B>G=>5 ?@>872>4AB2>; :;0AA8D8:0F8O ?>B>G=KE ;8=89; A>2@5<5==K5 ?@>1;5<K ?>B>G=>3> ?@>872>4AB20. @30=870F8O B5E=8G5A:>3> :>=B@>;O =0 ?@54?@8OB88. @30=870F8O 8=AB@C<5=B0;L=>3> 8 @5<>=B=>3> E>7O9AB20. ;0=8@>20=85 C?@02;5=8O ?@>872>4AB2><. A>15==>AB8 >?5@0B82=>-?@>872>4AB25==>3> ?;0=8@>20=8O @07;8G=KE B8?>2 ?@>872>4AB20. 8A?5BG8@>20=85 8 CG5B ?@>872>4AB20. !CI=>ABL 8 DC=:F88 C?@02;5=8O ?@>872>4AB2><. 5B>4K C?@02;5=8O; \`    " $ ( *   <>46 NP ##$$n%p%%%''((-.\0^0 h XCJ h XNHh XOJQJ h X; h X6 j-h Xh XOJQJh XmH sH  h X5h XL\^`t : < 1$$1$a$4kd$$Ifl "4 la{  9r $If$1$If *$1$If^*$1$a$+     Z  r t v     ( 1$(   6LZ$?kdR$$If0#"a $$Ifa$ $$If`a$$`a$"*$ & F*$ $&4k?kd$$If0#"a $$Ifa$ $$If`a$?kd$$If0#"ak?kd$$If0#"a $$Ifa$ $$If`a$?kdr$$If0#"a DF$kbbbb[[$ & F $`a$?kd$$If0#"a $$Ifa$ $$If`a$?kd2$$If0#"a rn\d > r b!!".#$  & F  7nx^n` & F h88^8$`a$)$ & F he^e`a$($`a$$ & F $&'((P)*+,,--..h0,1j11>223v4&5  & F   & F   & F   & F   & F  7nx^n`  & F ^0,1j1>2233445556777899":$:::<<f>h>>>@@AA"C$CDDEEPFRFFFGGrHtH8I:IJJLLOO(P*PPPPPRQTQRR4S6STT@UBUUUWWYYYY[[&](]]]]]J^ j-h X h XCJ h X6CJ h XNH h XCJh XW&552668 9H:P<f?@ABC:DDFFLGGHI JJKL  & F  $ & Fxa$  & F   & F`  & F LnM@NNPPPPQTTTT@UBUrW,Y.\2] $ & F1$`a$'*$ & F*$ $ & F`a$$ & Fa$ & F77*$]7^7 $ & F1$a$ $1$`a$  & F 2]]8^^_Z_tavaaNbbbbbBcZc $$If`a$"*$*$ & F*$``$ & F h1$^a$J^L^^^_ _ _"_Z_ `0```hajatavabbBcZc\chcjcccc:d 68^`z|z|02JNPdڑܑBD h XNH h X5CJh XCJNH h XCJh XY|v~vvvyJ}N ̋ڌ$7$1$If`7a$$If $$1$Ifa$ $$If`a$Rkd,$$IfF9!$!S    a&rJLNPd|v$If $$1$Ifa$Rkd$$IfF9!$!S    a $$If`a$ $If`$7$1$If`7a$ pr Еҕ46fhZ\ԙvx@BlnΝН68`bğƟ(*NP468:Nȩʩ*,ڭܭޭ"6z|LNv h X>*CJ h XNHh X h XCJh XCJNHYԙ468 $$1$Ifa$$If $$1$Ifa$ $$If`a$Rkdd$$IfF9!$!S    a8:Nhحڭܭ{ $$1$Ifa$$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd$$IfF9!$!S    aܭޭ"dDFH $If`$If $$1$Ifa$ $$If`a$Rkd$$IfF9!$!S    avxdx´Ĵ*,hj̶ζ.0bd>@HJ^^`VXjl"$vxBDvxPR8:df " h XNHh X h X>*CJ h XCJh XCJNHYHJ^V| $If`$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd8 $$IfF9!$!S    a $If`$If $$1$Ifa$ $$If`a$Rkd $$IfF9!$!S    aP*^`b~$1$If$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd~ $$IfF9!$!S    a xz@BtvRT "RT`bdxjl,.XZhj68 "*, h X5CJ h XNHh X h XCJ\bdx({ $$1$Ifa$$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd( $$IfF9!$!S    a "*,@ARkdn $$IfF9!$!S    a $$If`a$ $$If`a$Rkd $$IfF9!$!S    a,>68<><>02"$@B8:ln68Z\  XZ h X;CJh Xh XCJNH h X5CJ h XCJX,68JNRkd $$IfF9!$!S    aRkd $$IfF9!$!S    a $$If`a$JvHJR $If`$IfRkd$$IfF9!$!S    a $$If`a$ $$If`a$ RTf~>Rkd$$IfF9!$!S    a $If`$If $$If`a$Rkd$$IfF9!$!S    a"$6BPRZRkdV$$IfF9!$!S    a $If`$If $$If`a$ Z\n>Rkd$$IfF9!$!S    a $If`$If $$If`a$Rkd$$IfF9!$!S    aPXZlRkd*$$IfF9!$!S    a $$If`a$ $$If`a$24&(*     J L t v     <><>dfNPdfLN0`b" $   h XCJNH h X;CJ h XCJ h XNH h X; h X5 h X5CJh X h XCJP(24HtNAA $$If`a$Rkdb$$IfF9!$!S    a $$If`a$Rkd$$IfF9!$!S    at~(* ~xii^ $$1$Ifa$$7$1$If`7a$$If $$1$Ifa$ $$If`a$[kd$$Ifl4F9!$!S    4 laf4 $$If`a$ >NH$IfRkd`$$IfF9!$!S    a $$If`a$Rkd$$IfF9!$!S    a0b$$$ $If`$IfRkd$$IfF9!$!S    a $$If`a$ N!P!" "v$x$$$ %%j%l%%%&&''*(,((())++"+<+n+p+*,,,,,,,X-Z---".$...l0n01111n3p3<4>444777777778888:9<999: :::2;4;;;;;<<><<<====.> h X;CJh Xh XCJNH h XCJ[$$$%++"+$+>Rkd4$$IfF9!$!S    a $If`$If $$If`a$Rkd$$IfF9!$!S    a$+<+p+111111>7@7H7Rkd$$IfF9!$!S    a $If`$If $$If`a$ H7J7^7777778NRkd$$IfF9!$!S    a $$If`a$Rkdl$$IfF9!$!S    a8;;;;;><0H2H:H $If`Rkd$$IfF9!$!S    a $$If`a$ $If`$If .>0>>>??@@AAĵBCCDDEFF*,GGG:K@KKK L LnLpLMMMNdNfNXPZPPPPRRRRRxSzS^T`TTT$U&UUUPVRVdVfVVVW W h X;CJh X h XCJh XCJNH[:HRkd$$IfF9!$!S    a $If`$If $$If`a$RkdL$$IfF9!$!S    afVzVVbbbbb(cDwFwNwRkd$$IfF9!$!S    a $If`$If $$If`a$ WWWWWYYHZJZZZ[[[[]]]]L^N^__x_z_`` a alanaaa4b6bbb&c(cccccddeeee@fBfggtgvghhii>j@jjjkktkvkkk>l@lnmpm6n8nnnnn\o^opprrrrJsLsttt h X;CJh Xh XCJNH h XCJ[ttTuVuuu"v$vvvvvNwPwwwdxfx,y.yyyZz\z*{,{{{{{X|Z|}}L~N~VX$&NPbdFHnp8:np:<LNԍ֍:< h X; h XNH h X;CJh X h XCJh XCJNHWNwPwdww@XZb $If`$If $$If`a$Rkd $$IfF9!$!S    abdx $If`$7$1$If`7a$ $$If`a$Rkd$$IfF9!$!S    a| $If` $7$If`7a$ $$$If^a$ $$If`a$Rkdf$$IfF9!$!S    aXz|FHpr  J L     t v   " *  .0vx(\|~vxDF>@`bp,.XZ$&h XCJNHh X5;CJ h X5CJU h XNHh X h XCJT X" $ *  $If`$7$1$If`7a$ $$If`a$Rkd$$IfF9!$!S    a?@8<5=5=85 M:>=><8:>-<0B5<0B8G5A:8E <5B>4>2 8 - 2 ?@>F5AA5 ?@8=OB8O @5H5=89. ;0AA8D8:0F8O :04@>2 C?@02;5=8O. @8=F8?K 8 <5B>4K, A>F80;L=>-?A8E>;>38G5A:85 >A=>2K <5=546<5=B0: AB8;L @C:>2>4AB20, C?@02;5=85 :04@0<8, 45OB5;L=>ABLN :>;;5:B820. @30=870F8>==0O AB@C:BC@0 <5=546<5=B0 2 >@30=870F88, =0 ?@54?@8OB88. "5E=>;>38O @07@01>B:8 8 ?@8=OB8O C?@02;5=G5A:8E @5H5=89. =D>@<0F8>==0O 1070 <5=546<5=B0. 85. .00.0F8>=0;L=>-@538>=0;L=K9 (2C7>2A:89) :><?>=5=B144..00.8AF8?;8=K ?> 2K1>@C ABC45=B0, CAB0=02;8205<K5 2C7><139!.00.!?5F80;L=K5 48AF8?;8=K1598!.01.!?5F80;L=>ABL  @>5:B8@>20=85 B5E=8G5A:8E 8 B5E=>;>38G5A:8E :><?;5:A>2 !.01."5E=>;>38O <0H8=>AB@>5=8O 745;85 8 53> M;5<5=BK, ?@>872>4AB25==K9 8 B5E=>;>38G5A:89 ?@>F5AAK 2 <0H8=>AB@>5=88 8 <5B0;;>>1@01>B:5; B8?K <0H8=>AB@>8B5;L=KE ?@>872>4AB2; B>G=>ABL 2 <0H8=>AB@>5=88; ?@>872>4AB25==K5 ?>3@5H=>AB8 8 A?>A>1K ?>;CG5=8O 7040==KE @07<5@>2. $0:B>@K, 2;8ONI85 =0 B>G=>ABL >1@01>B:8; @0AG5BK ?>3@5H=>AB59 <5E0=8G5A:>9 >1@01>B:8 8 A1>@:8; AB0B8AB8G5A:85 <5B>4K 8AA;54>20=8O B>G=>AB8; 02B><0B8G5A:>5 C?@02;5=85 B>G=>ABLN; :0G5AB2> ?>25@E=>AB59 703>B>2>: 8 45B0;59 <0H8= 8 53> D>@<8@>20=85 B5E=>;>38G5A:8<8 <5B>40<8; A@02=8B5;L=0O B5E=8:>-M:>=><8G5A:0O E0@0:B5@8AB8:0 B5E=>;>38G5A:8E <5B>4>2 ?@>872>4AB20 2 <0H8=>AB@>5=88; B5E=>;>38G=>ABL :>=AB@C:F89, 45B0;59 8 8745;89; ?@>5:B8@>20=85 B5E=>;>38G5A:8E ?@>F5AA>2 2 <0H8=>AB@>5=88; ?>AB@>5=85 B5E=>;>38G5A:8E >?5@0F89; B5E=>;>38G5A:0O >A=0AB:0; B5E=>;>38O ?@>872>4AB20 B8?>2KE 45B0;59 8 C7;>2 <0H8=; >@30=870F8O B5E=>;>38G5A:>9 ?>43>B>2:8 ?@>872>4AB20. 353!.02.A=>2K =0CG=KE 8AA;54>20=89 8 B5E=8:0 M:A?5@8<5=B0 @30=870F8O 8AA;54>20=89 B5E=>;>38G5A:8E A8AB5<; ?;0=8@>20=85 M:A?5@8<5=B0; AB0B8AB8G5A:0O >1@01>B:0 M:A?5@8<5=B0;L=KE 40==KE; :>@@5;OF8>==K9 8 @53@5AA8>==K9 0=0;87; 02B><0B870F8O ?@>2545=8O M:A?5@8<5=B0 8 >1@01>B:8 @57C;LB0B>2 M:A?5@8<5=B>2 8 8A?KB0=89; >A=>2K M;5:B@8G5A:8E <5B>4>2 87<5@5=8O =5M;5:B@8G5A:8E 25;8G8=; 40BG8:8, 2KE>4=K5 CAB@>9AB20 8=D>@<0F8>==KE A8AB5<; >AF8;;>3@0DK, ?@81>@K :>=B@>;O ?0@0<5B@>2 :0G5AB20 >1>@C4>20=8O 8 8745;89; ?>3@5H=>AB8 8 0BB5AB0F8O 87<5@8B5;L=KE ?@81>@>2; >D>@<;5=85 @57C;LB0B>2 8AA;54>20=89. 102!.03.@30=870F8O 8 ?;0=8@>20=85 ?@>872>4AB20 87=5==K9 F8:; 8745;89; >@30=870F8O 8==>20F8>==>9 45OB5;L=>AB8 ?@54?@8OB8O:  , 87>1@5B0B5;LAB2>, ?>43>B>2:0 ?@>872>4AB20, >A2>5=85 ?@>872>4AB20, ?;0=8@>20=85 8==>20F89; >@30=870F8O >A=>2=>3> ?@>872>4AB20: B8?K ?@>872>4AB20, ?@>872>4AB25==0O AB@C:BC@0, ?@>872>4AB25==K9 F8:;, D>@<K >@30=870F88 ?@>872>4AB25==>3> ?@>F5AA0; >@30=870F8O 2A?><>30B5;L=>3> ?@>872>4AB20; A8AB5<K :0G5AB20, A5@B8D8:0F8O ?@>4C:F88; >@30=870F8O B@C40, >@30=870F8O 70@01>B=>9 ?;0BK; ?;0=8@>20=85 ?@>872>4AB25==>-E>7O9AB25==>9 45OB5;L=>AB8, B5E=8:>-M:>=><8G5A:>5 8 >?5@0B82=>5 ?;0=8@>20=85. 204!.04.!8AB5<0 >@30=870F88 ?@>5:B8@>20=8O B5E=>;>38G5A:8E :><?;5:A>2 A=>2=K5 =0?@02;5=8O ?@>5:B8@>20=8O; A?5F80;870F8O, :>=F5=B@0F8O 8 :>>?5@8@>20=85 2 <0H8=>AB@>5=88; >@30=870F8O ?@>5:B8@>20=8O; ?@54?@>5:B=>5 >1A;54>20=85; B5E=8:>-M:>=><8G5A:>5 >1>A=>20=85 8 7040=85 =0 ?@>5:B8@>20=85; AB@C:BC@0 8 A>45@60=85 @01>G53> ?@>5:B0 (?@>5:B0); @01>G0O 4>:C<5=B0F8O; ?>@O4>: @07@01>B:8 ?@>5:B=>9 4>:C<5=B0F88; >A=>2=K5 ?>=OB8O 2 B5E=>;>38G5A:>< ?@>5:B8@>20=88: A>AB02 <0H8=>AB@>8B5;L=>3> 702>40 (F5E0), ?@>872>4AB25==0O <>I=>ABL, :;0AA8D8:0F8O ?@>872>4AB2, >?@545;5=85 @09>=0, ?C=:B0 8 ?;>I04:8 AB@>8B5;LAB20, >G5@548 AB@>8B5;LAB20 8 ?CA:>2KE :><?;5:A>2; ?@>872>4AB25==0O ?@>3@0<<0, @568< @01>BK 8 D>=4K 2@5<5=8; @07@01>B:0 35=5@0;L=>3> ?;0=0 702>40; A>3;0A>20=85 =0<5G05<KE ?@>5:B=KE @5H5=89; 02B><0B870F8O ?@>F5AA>2 ?@>5:B8@>20=8O; M:A?5@B870 8 CB25@645=85 ?@>5:B>2. 187!.05.A=>2K AB@>8B5;L=>3> 45;0 ;0AA8D8:0F8O ?@>872>4AB25==KE 740=89 8 A>>@C65=89; >A=>2=K5 AB@>8B5;L=K5 ?0@0<5B@K 740=89; :>=AB@C:B82=K5 M;5<5=BK ?@>872>4AB25==KE 740=89 8 8E ?@82O7:0 : @07182>G=K< >AO<; DC=40<5=BK ?>4 >1>@C4>20=85; ?>;K 8 >3@0640NI85 :>=AB@C:F88 740=89; 5AB5AB25==>5 8 8A:CAAB25==>5 >A25I5=85; ?@>B82>?>60@=K5 B@51>20=8O; ?>MB06=K5 ?;0=K 8 @07@57K 740=89; C=8D8F8@>20==K5 B8?>2K5 A5:F88 ?@>872>4AB25==KE 740=89; ?@>872>4AB25==K5 8=B5@L5@K; B@51>20=8O : ?><5I5=8O< A @53C;8@C5<K<8 ?0@0<5B@0<8 2>74CH=>9 A@54K, A?>A>1K 8E >15A?5G5=8O; :>=AB@C:B82=K5 >A>15==>AB8 B5@<>AB0B8@>20==KE 740=89 8 ?><5I5=89; 2A?><>30B5;L=K5 740=8O 8 ?><5I5=8O, <5B>48:0 >?@545;5=8O 8E ?;>I048; 702>4A:85 A5B8 8 A>>@C65=8O 2>4>A=0165=8O, :0=0;870F88, >B>?;5=8O 8 25=B8;OF88; @07@01>B:0 7040=89 =0 AB@>8B5;L=CN G0ABL ?@>5:B0; >@30=870F8O AB@>8B5;LAB20. 68!.06."@0=A?>@B=>-A:;04A:0O A8AB5<0 702>40 >;L B@0=A?>@B=>-A:;04A:>9 A8AB5<K 2 D>@<8@>20=88 ?@>872>4AB25==>9 A8AB5<K ?@54?@8OB8O; >@30=870F8>==>-DC=:F8>=0;L=0O AB@C:BC@0 B@0=A?>@B=>-A:;04A:>9 A8AB5<K; AE5<K 8 @0AG5B 3@C7>?>B>:>2; B@0=A?>@B=>5 >1>@C4>20=85: 02B><>18;L=K9, 65;57=>4>@>6=K9 8 =0?>;L=>-B5;565G=K9 B@0=A?>@B; :@0=>2>5 >1>@C4>20=85, ?>425A=>9 8 :>=2595@=K9 B@0=A?>@B; >1>@C4>20=85 02B><0B878@>20==KE A:;04A:8E A8AB5<: =0:>?8B5;8 8 ?@85<=>-?5@540NI85 <5E0=87<K, B0@0, AB5;;06=K5 :>=AB@C:F88, HB015;8@CNI55 >1>@C4>20=85; 02B><0B878@>20==K5 A:;04K; ?@>5:B8@>20=85 02B><0B878@>20==KE B@0=A?>@B=>-A:;04A:8E A8AB5<; D>@<0;870F8O 7040G8 ?>AB@>5=8O AB@C:BC@K, 2K1>@ :><?>=5=B>2, ?@>3=>78@>20=85 ?0@0<5B@>2 :><?>=5=B>2, <>45;L >?B8<870F88 AB@C:BC@K, 25:B>@=0O >?B8<870F8O AB@C:BC@K; 2K1>@ 20@80=B0 AB@C:BC@K 02B><0B878@>20==>9 B@0=A?>@B=>-A:;04A:>9 A8AB5<K 2 CA;>28OE B5E=8G5A:>3> ?5@52>>@C65=8O; 8<8B0F8>==>5 <>45;8@>20=85 02B><0B878@>20==KE B@0=A?>@B=>-A:;04A:8E A8AB5<; <>45;8@>20=85 02B><0B878@>20==KE B@0=A?>@B=>-A:;04A:8E A8AB5< :0: A8AB5< <0AA>2>3> >1A;C6820=8O; @0AG5BK 2<5AB8<>AB8 A:;04>2 8 ?@>872>48B5;L=>AB8 B@0=A?>@B=KE A@54AB2. 102!.00.8AF8?;8=K A?5F80;870F88582!.02.!?5F80;L=>ABL  >@=K5 <0H8=K 8 >1>@C4>20=85 !.01.>@=K5 <0H8=K 8 >1>@C4>20=85 ?>475<=KE @07@01>B>: !?>A>1K @07@CH5=8O 8 D878:>-<5E0=8G5A:85 A2>9AB20 3>@=KE ?>@>4; D>@<8@>20=85 =03@C7>: =0 @01>G5< 8=AB@C<5=B5 3>@=KE <0H8=; 3>@=K5 <0H8=K 8 >1>@C4>20=85 4;O 4>1KG8 ?;0AB>2KE ?>;57=KE 8A:>?05<KE: :><109=K 4;O >G8AB=KE @01>B, C3>;L=K5 AB@C38, :@5?8 >G8AB=KE 701>52, >G8AB=K5 <5E0=878@>20==K5 :><?;5:AK, C3;54>1K20NI85 03@530BK; A:>@>AB8 @570=8O 8 ?>40G8 >G8AB=KE :><109=>2, A:>@>AB8 :@5?;5=8O >G8AB=>3> 701>O 8 ?@>872>48B5;L=>AB8 @07;8G=KE B8?>2 A8AB5< 701>9=>3> >1>@C4>20=8O; B8?K 3>@=KE 2K@01>B>: 8 A?>A>1K 8E ?@>2545=8O; 1C@8;L=K5 <0H8=K, ?>3@C7>G=K5 8 1C@>?>3@C7>G=K5 <0H8=K, ?@>E>4G5A:85 :><109=K 8 I8BK, :><?;5:BK 8 :><?;5:AK ?@>E>4G5A:>3> >1>@C4>20=8O; >?@545;5=85 @0F8>=0;L=KE @568<=KE ?0@0<5B@>2 8 @0AG5B ?@>872>48B5;L=>AB8 H0EB=KE 1C@8;L=KE CAB0=>2>:, ?>3@C7>G=KE <0H8=, ?@>E>4G5A:8E :><109=>2, I8B>2 8 ?@>E>4G5A:8E :><?;5:A>2; 3>@=K5 <0H8=K 8 >1>@C4>20=85 4;O 4>1KG8 @C4: AB0=:8 8 :>;>=:>2K5 CAB0=>2:8 4;O 1C@5=8O 3;C1>:8E 27@K2=KE A:2068=, 70@O4=K5 <0H8=K 8 CAB@>9AB20, ?>3@C7>G=>-B@0=A?>@B=K5 <0H8=K, <0H8=K 8 >1>@C4>20=85 4;O 384@><5E0=870F88 3>@=KE @01>B. 230!.02.5E0=8G5A:>5 >1>@C4>20=85 :0@L5@>2 1I85 A2545=8O >1 M:A:020B>@0E 8 8E @01>G55 >1>@C4>20=85; E>4>2>5 >1>@C4>20=85 8 <5B0;;>:>=AB@C:F88 M:A:020B>@>2; =03@C7:8 =0 @01>G5< >1>@C4>20=88 8 @0AG5BK ?@>872>48B5;L=>AB8 >4=> 8 <=>3>:>2H>2KE M:A:020B>@>2; 3>@=K5 8 3>@=>-B@0=A?>@B=K5 :><?;5:AK; =07=0G5=85, :;0AA8D8:0F8O 8 >1;0ABL ?@8<5=5=8O 2K5<>G=>-B@0=A?>@B8@CNI8E <0H8= ("); @01>G55 8 E>4>2>5 >1>@C4>20=85 "; :><?>=>2>G=K5 AE5<K 8 ?@>872>48B5;L=>ABL "; <0H8=K 4;O 384@><5E0=870F88: 384@><>=8B>@K 8 75<;5A>A=K5 A=0@O4K, 4@038; >1I85 A2545=8O > 1C@>2KE <0H8=0E 8 B5>@8O 8E @01>G8E ?@>F5AA>2; 8A?>;=8B5;L=K5 <5E0=87<K 8 ?@>872>48B5;L=>ABL 1C@>2KE AB0=:>2; A8;>2K5 CAB0=>2:8 3>@=KE <0H8=. 130!.03."@0=A?>@B=K5 <0H8=K #AB@>9AB2> 3>@=KE B@0=A?>@B=KE <0H8= 8 >1>@C4>20=85 B@0=A?>@B0 =0 3>@=KE ?@54?@8OB8OE; ;>:><>B82=K9 B@0=A?>@B, A0<>E>4=K5 B@0=A?>@B=K5 <0H8=K, :>=2595@=K9 B@0=A?>@B, B@0=A?>@B A :0=0B=>9 >B:0B:>9 8 B@C1>?@>2>4=K9 B@0=A?>@B; >A=>2K B5>@88 @01>BK 8 @0AG5B0 B@0=A?>@B=KE <0H8=, >A=>2=K5 C@02=5=8O 42865=8O B@0=A?>@B=KE <0H8=; ?@>872>48B5;L=>ABL B@0=A?>@B=KE <0H8=; @0AG5BK @07;8G=KE 284>2 B@0=A?>@B0 8 B@0=A?>@B=KE <0H8=. 180!.04.!B0F8>=0@=K5 <0H8=K 5=B8;OB>@=K5 8 2>4>>B;82=K5 CAB0=>2:8; >A=>2K >1I59 B5>@88 25=B8;OB>@>2 8 =0A>A>2, 2=5H=85 A5B8 25=B8;OB>@=KE 8 2>4>>B;82=KE CAB0=>2>:; =07=0G5=85, >1>@C4>20=85 8 >A=>2K @01>G53> ?@>F5AA0 ?=52<0B8G5A:8E CAB0=>2>:; AB0F8>=0@=K5 8 ?5@54286=K5 :><?@5AA>@=K5 CAB0=>2:8; AE5<K 8 M;5<5=BK ?>4J5<=KE CAB0=>2>:; H0EB=K5 ?>4J5<=K5 <0H8=K; :8=5<0B8:0 8 48=0<8:0 ?>4J5<=KE CAB0=>2>:; ?@82>4 ?>4J5<=KE CAB0=>2>:. 140!.05.A=>2K ?@>5:B8@>20=8O 3>@=KE <0H8= 8 >1>@C4>20=8O "@51>20=8O, ?@54JO2;O5<K5 : 3>@=K< <0H8=0< 8 >1>@C4>20=8N M:>=><8G5A:85, B5E=8G5A:85, A>F80;L=K5 8 2;8O=85 CA;>289 M:A?;C0B0F88 =0 2K1>@ ?0@0<5B@>2 ?@>5:B8@C5<>3> >1>@C4>20=8O, MB0?K ?@>5:B8@>20=8O 8 A8AB5<=K9 ?>4E>4 : ?@>5:B8@>20=8N, 0=0;87 8 A8=B57 >?5@0F89, >?@545;5=85 B@51C5<>9 25;8G8=K ?@>872>48B5;L=>AB8 8 >F5=:0 C@>2=O :0G5AB20 >A=>2=KE :>=AB@C:B82=KE @568<=KE ?0@0<5B@>2 ?@>5:B8@C5<>3> >1>@C4>20=8O. 120!.06.A=>2K M:A?;C0B0F88 3>@=KE <0H8= 8 >1>@C4>20=8O #A;>28O M:A?;C0B0F88 8 >A=>2=K5 B@51>20=8O ?> >15A?5G5=8N @01>B>A?>A>1=>AB8, MDD5:B82=>9 8 157>?0A=>9 @01>BK 3>@=KE <0H8= 8 >1>@C4>20=8O; 2K1>@ >1>@C4>20=8O 8 >15A?5G5=85 157>?0A=KE @568<>2 53> M:A?;C0B0F88; 284K B5E=8G5A:>3> >1A;C6820=8O, @5<>=B>2 8 =0;04>:, @0AG5B 8 ?>AB@>5=85 3@0D8:>2 ?;0=>2>-?@54C?@548B5;L=KE @5<>=B>2; A<07:0 <0H8=, @0AG5B =5>1E>48<>3> :>;8G5AB20 A<07>G=KE <0B5@80;>2 8 70?0A=KE G0AB59; 4803=>AB8:0 B5E=8G5A:>3> A>AB>O=8O @07;8G=KE B8?>2 3>@=>3> >1>@C4>20=8O. -=5@3><5E0=8G5A:0O A;C610 3>@=KE ?@54?@8OB89. 120!.07.0456=>ABL 3>@=KE <0H8= 8 >1>@C4>20=8O "5@<8=K 8 >?@545;5=8O, ?>:070B5;8 4;O :>;8G5AB25==>9 >F5=:8 =0456=>AB8 3>@=KE <0H8= 8 >1>@C4>20=8O; <0B5<0B8G5A:89 0??0@0B B5>@88 =0456=>AB8; AB@C:BC@>>1@07>20=85 =0456=>AB8 8 A?>A>1K @575@28@>20=8O 3>@=>-H0EB=>3> >1>@C4>20=8O; D>@<8@>20=85 ?>B>:0 >B:07>2 >1>@C4>20=8O 8 70:>=K @0A?@545;5=8O A;CG09=KE 25;8G8=, 8A?>;L7C5<KE 4;O >F5=:8 @07;8G=KE A2>9AB2 =0456=>AB8; >?@545;5=85 :>;8G5AB25==KE 7=0G5=89 ?>:070B5;59 =0456=>AB8 8 @0AG5B ?>:070B5;59 =0456=>AB8 3>@=KE <0H8= 8 >1>@C4>20=8O =0 AB0488 ?@>5:B8@>20=8O; >15A?5G5=85 =0456=>AB8 3>@=KE <0H8= =0 MB0?5 8E ?@>872>4AB20 8 2 ?@>F5AA5 M:A?;C0B0F88. 118!.00.8AF8?;8=K A?5F80;870F89560!.03.!?5F80;L=>ABL "5B0;;C@38G5A:85 <0H8=K 8 >1>@C4>20=85"!.01.2545=85 2 A?5F80;L=>ABL 0H8=>AB@>5=85 8 53> @>;L 2 @0728B88 F828;870F88, 8AB>@8G5A:89 >G5@: 8 ?5@A?5:B82K @0728B8O <5B0;;C@38G5A:>3> <0H8=>AB@>5=8O 2 >AA88, @>;L >B5G5AB25==KE CG5=KE; 7040G8 2KAH59 H:>;K ?> ?>43>B>2:5 :04@>2 4;O =0@>4=>3> E>7O9AB20 >AA88. #G51=K9 ?;0= ?> A?5F80;L=>AB8 8 53> @>;L 2 >@30=870F88 CG51=>3> ?@>F5AA0. 0CG=K5 H:>;K ?@>D8;8@CNI59 :0D54@K, D0:C;LB5B0 8 2C70; >7=0:><;5=85 A :0D54@0<8, ;01>@0B>@8O<8 8 ?@>872>4AB25==K<8 CG0AB:0<8. 68!.02.5B0;;C@38G5A:85 ?>4J5<=>-B@0=A?>@B=K5 <0H8=K A=>2=K5 ?>=OB8O 8 >?@545;5=8O, @568<K @01>BK, @0AG5B=K5 =03@C7:8, =>@<K >A3>@B5E=047>@0; B8?>2K5 45B0;8 8 <5E0=87<K: 381:85 ?>4J5<=K5 8 BO3>2K5 >@30=K, 1;>:8, ?>;8A?0ABK, 72574>G:8, 10@010=K, B>@<>70 8 >AB0=>2K. @C7>?>4J5<=K5 <0H8=K 8 CAB@>9AB20: =07=0G5=85, :;0AA8D8:0F8O 8 >A=>2=K5 ?0@0<5B@K <>AB>2KE 8 :>=A>;L=KE :@0=>2, <0=8?C;OB>@>2 8 @>1>B>2; @0AG5B B8?>2KE <5E0=87<>2: ?>4J5<0, ?5@542865=8O, ?>2>@>B0, 70E20B0 8 2KB0;:820=8O. "@0=A?>@B8@CNI85 <0H8=K 8 CAB@>9AB20: ?5@8>48G5A:>3> 459AB28O; =5?@5@K2=>3> 459AB28O A 381:8< BO3>2K< >@30=><; =5?@5@K2=>3> 459AB28O 157 BO3>2>3> >@30=0; ?=52<0B8G5A:85 CAB0=>2:8 =03=5B0B5;L=>3> 8 2A0AK20NI53> 459AB28O; 384@02;8G5A:85 CAB0=>2:8 157=0?>@=>3> 8 =0?>@=>3> 459AB28O. @8<5=5=85 @>1>B>B5E=8G5A:8E :><?;5:A>2 2 <5B0;;C@388. 255!.03.>=AB@C8@>20=85 <0H8= 8 >1>@C4>20=8O <5B0;;C@38G5A:>3> ?@>872>4AB20 !>45@60=85 8 AB0488 @07@01>B:8 :>=AB@C:B>@A:>9 4>:C<5=B0F88, 548=0O A8AB5<0 :>=AB@C:B>@A:>9 4>:C<5=B0F88. 1I85 ?@8=F8?K :>=AB@C8@>20=8O <0H8= 8 03@530B>2 <5B0;;C@38G5A:>3> ?@>872>4AB20; :>=AB@C8@>20=85 A8;>2KE M;5<5=B>2; >?B8<870F8O :>=AB@C:F89; 107K 2 <0H8=>AB@>5=88. 0AG5B =5?>4286=KE 8 A0<>CAB0=02;820NI8EAO :><?5=A0B>@>2. KO2;5=85 2@54=KE 871KB>G=KE A2O759, 2;8O=85 B@5=8O =0 A0<>CAB0=02;8205<>ABL 725=L52 <5E0=87<>2. 0F8>=0;L=K5 AE5<K ?;>A:8E <5E0=87<>2 A =87H8<8 8 2KAH8<8 ?0@0<8; >?B8<870F8O <5E0=87<0 =0 >A=>20=88 AB@C:BC@=>3> 0=0;870; >?B8<870F8O :><?>=>2:8 <0H8= 8 ?@82>40. >=AB@C8@>20=85 @0F8>=0;L=KE C7;>2 8 45B0;59 <5B0;;C@38G5A:>3> >1>@C4>20=8O. >=AB@C8@>20=85 ;8BKE, A20@=KE 8 ;8B>-A20@=KE 45B0;59; B5E=>;>38G=>ABL 45B0;59, ?>425@305<KE <5E0=8G5A:>9 >1@01>B:5, ?>:>2>: 8 45B0;59, ?>425@305<KE B5@<8G5A:>9 >1@01>B:5; <5B>4K A=OB8O >AB0B>G=KE =0?@O65=89; B5E=>;>38G=>ABL A1>@:8 C7;>2 8 <0H8=. !8AB5<K 02B><0B878@>20==>3>: A>AB02 8 AB@C:BC@0; B5E=8G5A:>5, <5B>48G5A:>5, ?@>3@0<<=>5 8 8=D>@<0F8>==>5 >15A?5G5=85; 107K 40==KE 8 A8AB5<K 8E C?@02;5=8O; <5B>4K 287C0;870F88 8 480;>30; A@54AB20 8 <5B>4K :><?LNB5@=>9 3@0D8:8; 02B><0B878@>20==>5 @01>G55 <5AB> :>=AB@C:B>@0. 221!.04.AA;54>20=85 <0H8= 8 >1>@C4>20=8O <5B0;;C@38G5A:>3> ?@>872>4AB20 "5>@5B8G5A:85 >A=>2K M:A?5@8<5=B0;L=KE <5B>4>2 8AA;54>20=8O <5B0;;C@38G5A:8E <0H8= 8 >1>@C4>20=8O. "5=7><5B@8G5A:85 <5B>4K 87<5@5=8O ?5@5<5I5=89, CA:>@5=89, A8;, <><5=B>2, 402;5=89 8 281@0F89; <5A4>7K 4;O 87<5@5=8O CA8;89 8 :>=B0:B=KE =0?@O65=89. ?B8G5A:85 <5B>4K 87<5@5=8O =0?@O65=8O 8 45D>@<0F89: ?>;O@870F8>==>->?B8G5A:89 <5B>4, 3>;>3@0D8G5A:0O 8=B5@D5@><5B@8O. !B0B8AB8G5A:0O >1@01>B:0 @57C;LB0B>2 M:A?5@8<5=B0; ?;0=8@>20=85 0:B82=>3> M:A?5@8<5=B0 4;O <>45;59 ?5@2>3> 8 2B>@>3> ?>@O4:0; >?B8<870F8O <5B>40<8 :@CB>3> 2>AE>645=8O 8 ?>A;54>20B5;L=>3> A8<?;5:A-?;0=8@>20=8O. A=>2K ?0B5=B>2545=8O, 8=B5;;5:BC0;L=0O A>1AB25==>ABL, ?@><KH;5==0O A>1AB25==>ABL 8 55 284K; 70:>=>40B5;LAB2> $ >1 87>1@5B5=8OE 8 ?0B5=B0E; <5B>48:0 @01>BK ?> 2KO2;5=8N 87>1@5B5=89 2 B5E=8G5A:>9 @07@01>B:5; >?8A0=85 87>1@5B5=8O. A=>2=K5 ?>=OB8O 8 <5B>4K 8=65=5@=>3> B2>@G5AB20, A8AB5<0B8:0 7040G ?>8A:0 8 2K1>@0 ?@>5:B=>-:>=AB@C:B>@A:8E @5H5=89; <>45;L B5E=8G5A:>3> >1J5:B0; >A=>2=K5 70:>=K AB0@5=8O 8 @0728B8O B5E=8:8. 5B>4K <>73>2>9 0B0:8 8 M2@8AB8G5A:8E ?@85<>2, DC=:F8>=0;L=>-AB>8<>AB=>9. "5>@8O @5H5=8O 87>1@5B0B5;LA:8E 7040G, ?@8=F8?K 25?>;L=>3> 0=0;870. 5B>4K, 8A?>;L7C5<K5 =0 B5>@5B8G5A:>< 8 M<?8@8G5A:>< C@>2=5; <0B5<0B8G5A:>5 <>45;8@>20=85 8 53> 284K; D878G5A:>5 <>45;8@>20=85; <5B>48:0 ?@>2545=8O M:A?5@8<5=B0;L=KE 8AA;54>20=89 <5B0;;C@38G5A:8E <0H8= 8 >1>@C4>20=8O; A8AB5<K 02B><0B870F88 M:A?5@8<5=B0;L=KE 8AA;54>20=89; >A=>2=K5 B@51>20=8O : >D>@<;5=8N =0CG=>3> >BG5B0, ?>43>B>2:0 <0B5@80;>2 4;O ?C1;8:0F88 2 =0CG=KE 6C@=0;0E. 221!.05.0456=>ABL, M:A?;C0B0F8O 8 @5<>=B <5B0;;C@38G5A:8E <0H8= 8 >1>@C4>20=8O >:070B5;8 =0456=>AB8 8 8E 2K1>@, B8?K @0A?@545;5=89 :@8B5@852 =0456=>AB8. ?@545;5=85 =0456=>AB8 B5E=8G5A:8E A8AB5<. 5B>48:0 A1>@0 8 >1@01>B:8 40==KE > =0456=>AB8 45B0;59, C7;>2 8 <5E0=87<>2. 84K 8 ?@8G8=K 2>7=8:=>25=8O >B:07>2 8 =58A?@02=>AB59 <5B0;;C@38G5A:8E <0H8= 8 03@530B>2. $0:B>@K, 2;8ONI85 =0 @01>B>A?>A>1=>ABL 45B0;59 8 <5E0=87<>2. !B0B8AB8G5A:0O >F5=:0 =03@C65==>AB8 45B0;59 8 <5E0=87<>2. &5;8 8 7040G8 B5E=8G5A:>9 4803=>AB8:8. >45;8 8 0;3>@8B<K 4803=>AB8@>20=8O, 2K1>@ 4803=>AB8G5A:8E ?@87=0:>2 8 @5H0NI8E ?@028;. @>3=>78@>20=85 @5AC@A0 <0H8= 8 03@530B>2 =0 AB048OE ?@>5:B8@>20=8O, 873>B>2;5=8O 8 M:A?;C0B0F88. ;0AA8D8:0F8O 8 >1;0ABL ?@8<5=5=8O <5B>4>2 8 A@54AB2 B5E=8G5A:>9 4803=>AB8:8, :>=B@>;5?@83>4=>ABL <0H8= 8 03@530B>2. @8<5=5=85 <5B>4>2 8 A@54AB2 4803=>AB8:8 4;O :>=B@>;O 8 ?@>3=>78@>20=8O B5E=8G5A:>3> A>AB>O=8O <0H8= 8 03@530B>2. @028;0 B5E=8G5A:>9 M:A?;C0B0F88 <5B0;;C@38G5A:>3> >1>@C4>20=8O; >A=>2=K5 284K 8 <5B>4K @5<>=B0; A8AB5<0 B5E=8G5A:>3> >1A;C6820=8O 8 @5<>=B0; >@30=870F8O @5<>=B=>3> ?@>872>4AB20; 02B><0B878@>20==K5 A8AB5<K B5E=8G5A:8< >1A;C6820=85< 8 @5<>=B><; :><?;5:A=K5 A8AB5<K C?@02;5=8O :0G5AB2>< @5<>=B=>3> ?@>872>4AB20. 5B>4K 2>AAB0=>2;5=8O 45B0;59 <5B0;;C@38G5A:>3> >1>@C4>20=8O; 2K1>@ <0B5@80;>2 8 A?>A>1>2 B5@<8G5A:>9 8 E8<8:>-B5@<8G5A:>9 >1@01>B:8 45B0;59 ?>A;5 @5<>=B0; C?@>G=5=85 45B0;59 <5B>40<8 ?>25@E=>AB=>3> ?;0AB8G5A:>3> 45D>@<8@>20=8O; @5<>=B 8 <>=B06 B8?>2KE 45B0;59 8 C7;>2 <5B0;;C@38G5A:>3> >1>@C4>20=8O; 10;0=A8@>2:0 2@0I0NI8EAO 45B0;59 <5B0;;C@38G5A:8E <0H8=. A=>2=K5 ?>=OB8O 8 >?@545;5=8O B@81>B5E=8:8; 87=>A B8?>2KE 45B0;59 8 D0:B>@K, 2;8ONI85 =0 8=B5=A82=>ABL 87=0H820=8O; 384@>48=0<8G5A:0O B5>@8O A<07:8; 8718@0B5;L=K9 ?5@5=>A. 84K A<07:8, :;0AA8D8:0F8O A<07>G=KE <0B5@80;>2 8 ?@54JO2;O5<K5 : =8< B@51>20=8O; 684:85, ?;0AB8G=K5 8 B25@4K5 A<07>G=K5 <0B5@80;K 8 ?>:@KB8O; @5:><5=40F88 ?> ?>41>@C A<07>G=KE <0B5@80;>2 4;O B8?>2KE C7;>2 B@5=8O; A?>A>1K 8 A8AB5<K A<07:8 <5B0;;C@38G5A:>3> >1>@C4>20=8O; >@30=870F8O M:A?;C0B0F88 8 @5<>=B0 A<07>G=KE A8AB5<; :>=B@>;L :0G5AB20 A<07>G=KE <0B5@80;>2. 255!.00.8AF8?;8=K A?5F80;870F88578!.04.!?5F80;L=>ABL  0H8=K 8 0??0@0BK B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8 !.01."5E=>;>38O <0H8=>AB@>5=8O @>872>4AB25==K9 8 B5E=>;>38G5A:89 ?@>F5AA; B8?K ?@>872>4AB2; B5E=>;>38G5A:0O =>@<0 2@5<5=8 8 55 A>AB02;ONI85; B5E=>;>38G=>ABL :>=AB@C:F89, 8745;89; ?@>5:B8@>20=85 B5E=>;>38G5A:8E ?@>F5AA>2; AB@C:BC@0 AB0=>G=KE >?5@0F89 A?>A>1K ?>;CG5=8O 703>B>2>:; ?@8?CA:8 =0 >1@01>B:C; 02B><0B878@>20==>5 ?@>5:B8@>20=85 B5E=>;>38G5A:8E ?@>F5AA>2; 1078@>20=85 8 107K 2 <0H8=>AB@>5=88; B>G=>ABL >1@01>B:8; D0:B>@K, 2;8ONI85 =0 B>G=>ABL >1@01>B:8; >?@545;5=85 AC<<0@=>9 ?>3@5H=>AB8 >1@01>B:8; :0G5AB2> ?>25@E=>AB8 45B0;59 B5:AB8;L=KE <0H8=; <5B>4K >1@01>B:8 ?>25@E=>AB59 45B0;59 <0H8= B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8; >1@01>B:0 =0@C6=KE 8 2=CB@5==8E ?>25@E=>AB59 B5; 2@0I5=8O, ?;>A:>AB59, @57L1>2KE 8 7C1G0BKE ?>25@E=>AB59; A?5F80;L=K5 <5B>4K >1@01>B:8 <0B5@80;>2; B5E=>;>38O A1>@>G=KE ?@>F5AA>2 B5:AB8;L=>3> 8 ;53:>3> <0H8=>AB@>5=8O. 353!.02.0456=>ABL <0H8= A=>2=K5 ?>=OB8O =0456=>AB8 B5E=>;>38G5A:8E <0H8=; E0@0:B5@8AB8:0 =0456=>AB8, 70:>=K @0A?@545;5=8O 8 ?>:070B5;8 =0456=>AB8 45B0;59 <0H8= B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8; <0B5<0B8G5A:0O AB0B8AB8:0 2 B5>@88 =0456=>AB8, <5B>48:0 A1>@0 AB0B8AB8G5A:>9 8=D>@<0F88 > =0456=>AB8 45B0;59 <0H8=; =0456=>ABL <0H8= =0 AB0488 873>B>2;5=8O, :>=AB@C:B82=0O =0456=>ABL; M:A?;C0B0F8>==0O =0456=>ABL <0H8=, >@30=870F8O 8 <5B>4K 8A?KB0=89 <0H8= B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8. 136!.03.1>@C4>20=85 <5E0=>>1@010BK20NI53> ?@>872>4AB20 "5E=>;>38G5A:85 AE5<K @07;8G=KE <5B>4>2 >1@01>B:8 703>B>2>:; :;0AA8D8:0F8O <5B0;;>@56CI8E AB0=:>2, B8?>2K5 <5E0=87<K AB0=:>2, M;5:B@>- 8 384@>?@82>4 <5B0;;>@56CI8E AB0=:>2; :8=5<0B8:0, CAB@>9AB2> 8 @01>B0 =0 C=825@A0;L=KE AB0=:0E; AB0=:8 A G8A;>2K< ?@>3@0<<=K< C?@02;5=85< 8 A8AB5<K 8E C?@02;5=8O; AB0=:8 4;O M;5:B@>D878G5A:>9 8 D878:>-E8<8G5A:>9 >1@01>B:8; 381:85 ?@>872>4AB25==K5 A8AB5<K 8 ?@><KH;5==K5 @>1>BK; <>45@=870F8O 8 M:A?;C0B0F8O AB0=:>2, >A=>2=>5 >1>@C4>20=85, 8A?>;L7C5<>5 2 B5:AB8;L=>< 8 ;53:>< <0H8=>AB@>5=88. 187!.04.@30=870F8O 8 ?;0=8@>20=85 ?@>872>4AB20 @30=870F8O =0CG=>-8AA;54>20B5;LA:8E @01>B 8 87>1@5B0B5;LAB20: 7040G8 B5E=8G5A:>9 ?>43>B>2:8 ?@>872>4AB20 8 55 >A=>2=K5 MB0?K; >@30=870F8O :>=AB@C:B>@A:>9 ?>43>B>2:8 ?@>872>4AB20; >A=>2=K5 7040G8 :>=AB@C:B>@A:8E A;C61 2 >1;0AB8 A>25@H5=AB2>20=8O B5E=8:8 B5:AB8;L=>9 8 ;53:>9 ?@><KH;5==>AB8; >@30=870F8O B5E=>;>38G5A:>9 ?>43>B>2:8 ?@>872>4AB20; M:>=><8G5A:85 :@8B5@88 2K1>@0 B5E=>;>38G5A:8E ?@>F5AA>2, >1>@C4>20=8O, 284>2 >A=0AB:8; ?;0=8@>20=85 B5E=8G5A:>9 ?>43>B>2:8 ?@>872>4AB2; A8AB5<0 A5B52>3> ?;0=8@>20=8O 8 C?@02;5=8O 2 B5E=8G5A:>9 ?>43>B>2:5 ?@>872>4AB20; C?@02;5=85 :0G5AB2>< ?@>4C:F88 8 >@30=870F859 B5E=>;>38G5A:>3> :>=B@>;O =0 702>45; >@30=870F8O B5E=8G5A:>3> >1A;C6820=8O ?@>872>4AB20; >A=>2K >@30=870F88 ?@>872>4AB25==>3> ?@>F5AA0, >@30=870F8O B@C40 8 53> AB8<C;8@>20=85. 204!.05.A=>2K 02B><0B878@>20==>3> ?@>5:B8@>20=8O >;L G5;>25:0 8 2KG8A;8B5;L=>9 <0H8=K ?@8 ?@>5:B8@>20=88, AB@C:BC@0 A8AB5<K 02B><0B878@>20==>3> ?@>5:B8@>20=8O; ?>=OB85 A8AB5<K, <0;K5 8 1>;LH85 A8AB5<K, A8AB5<=K9 ?>4E>4, B8?K A8AB5<=KE ?@54AB02;5=89: <8:@>A:>?8G5A:>5, DC=:F8>=0;L=>5, <0:@>A:>?8G5A:>5, 85@0@E8G5A:>5 8 ?@>F5AAC0;L=>5; F5;L <>45;8@>20=8O, >A=>2=K5 B8?K <>45;59, ?@58<CI5AB20 <0B5<0B8G5A:>3> <>45;8@>20=8O, ?>AB@>5=85 <>45;8, @5H5=85 <>45;8; A8AB5<=K5 ?@54AB02;5=8O <5E0=87<0, ?>4A8AB5<K 8 M;5<5=BK <5E0=87<0, 1;>G=0O <>45;L ?@>5:B8@>20=8O <5E0=87<0; A8=B57 <5E0=87<>2 ?> <5B>40< >?B8<870F88 A ?@8<5=5=85< -, F5;520O DC=:F8O, <5B>4K >?B8<870F88 2 A8=B575 <5E0=87<>2; A8=B57 <5E0=87<>2 ?> <5B>4C ?@81;865=8O DC=:F89, A8=B57 <5E0=87<>2 ?> .. '51KH52C, A?>A>1K 2KG8A;5=8O ?0@0<5B@>2 A8=B570: 8=B5@?>;8@>20=85, :204@0B8G=>5 ?@81;865=85, A8=B57 ?5@540B>G=>3> G5BK@5E725==8:0, A8=B57 :C;0G:>2>3> <5E0=87<0; 35><5B@8G5A:85 <>45;8 M;5<5=B0, 725=0, 42CE?>2>4:>2KE 8 B@5E?>2>4:>2KE AB@C:BC@=KE 3@C??, <>45;8, >?8AK20NI85 :8=5<0B8:C @KG06=>3> <5E0=87<0, 0;3>@8B< @0AG5B0 :8=5<0B8G5A:8E 8 :8=5B>AB0B8G5A:8E E0@0:B5@8AB8: <5E0=87<>2 <0H8= B5:AB8;L=>9 8 ;Q3:>9 ?@><KH;5==>AB8. 136!.00.8AF8?;8=K A?5F80;870F89582!.05.!?5F80;L=>ABL  >;83@0D8G5A:85 <0H8=K 8 02B><0B878@>20==K5 :><?;5:AK !.01.@>5:B8@>20=85 ?>;83@0D8G5A:8E <0H8= >=OB85 "?@>5:B8@>20=85", 53> >A=>2=K5 MB0?K, @53;0<5=B8@C5<K5 !"0<8 8 !; @07@01>B:0 AB@C:BC@=>-B5E=>;>38G5A:8E AE5< ?>;83@0D8G5A:8E <0H8=; @0AG5B F8:;>3@0<< @01>BK <0H8= 8 >A=>2=KE 8A?>;=8B5;L=KE <5E0=87<>2; A8=B57 8 0=0;87 :8=5<0B8G5A:8E ?0@0<5B@>2 <5E0=87<>2 ?>;83@0D8G5A:8E <0H8=; @0AG5B ?@>G=>AB=KE, 65AB:>AB=KE 8 48=0<8G5A:8E ?0@0<5B@>2 ?> @07@01>B0==K< <>45;O<; :>=AB@C:B>@A:0O @50;870F8O AE5<=KE @5H5=89; >?B8<870F8O ?@>5:B=KE @5H5=89 =0 @07;8G=KE MB0?0E ?@>5:B8@>20=8O ?> :@8B5@8O<: <5B0;;>5<:>AB8, M@3>=><8:8, 48709=0 8 4@C38E D0:B>@>2; @0AG5B ?@>872>48B5;L=>AB8 <0H8=, 2AB@>5==KE 2 02B><0B878@>20==K5 :><?;5:AK >1>@C4>20=8O. 153!.02.-:A?;C0B0F8O 8 @5<>=B ?>;83@0D8G5A:8E <0H8= >AC40@AB25==K5 AB0=40@BK ?> A8AB5<5 B5E=8G5A:>3> >1A;C6820=8O 8 @5<>=B0 B5E=8:8; B@51>20=8O : >@30=870F88 B5E=>;>38G5A:8E ?@>F5AA>2, A@54AB20< 8 <5B@>;>38G5A:><C >15A?5G5=8N B5E=8G5A:>3> >1A;C6820=8O (") 8 @5<>=B0 B5E=8:8. %0@0:B5@8AB8:0 ?>;83@0D8G5A:>3> >1>@C4>20=8O () :0: >1J5:B0 " 8 @5<>=B0; :>=AB@C:B>@A:0O 8 B5E=>;>38G5A:0O ?>43>B>2:0 " 8 @5<>=B0 ; B5E=>;>38O B5E=8G5A:>3> >1A;C6820=8O  8 53> A>AB02=KE G0AB59 8 A8AB5<; B5E=>;>38O @5<>=B0 . "5E=>;>38G5A:85 ?@>F5AAK, ?@8<5=O5<K5 ?@8 2>AAB0=>2;5=88 45B0;59 8 @5<>=B5 A1>@>G=KE 548=8F ; ?@028;0 >F5=:8 :0G5AB20 " 8 @5<>=B0 ?>;83@0D8G5A:8E <0H8=; <0B5@80;L=>-B5E=8G5A:>5 >15A?5G5=85 " 8 @5<>=B0 . 153!.03.1>@C4>20=85 8 B5E=>;>38O 4>?5G0B=KE ?@>F5AA>2 A>15==>AB8 ?>;83@0D8G5A:>3> 2>A?@>872545=8O B5:AB>2>9 8 87>1@078B5;L=>9 8=D>@<0F88; 873>B>2;5=85 D>B>D>@< 4;O ?;>A:>9 >DA5B=>9, 2KA>:>9 8 3;C1>:>9 ?5G0B8; B5:AB>2K5 D>B>D>@<K; B5:AB>-87>1@078B5;L=K5 D>B>D>@<K; ?@>872>4AB2> ?5G0B=KE D>@<. ;0AA8D8:0F8O >1>@C4>20=8O 8 53> ?@8<5=5=85 2 ?@>F5AA0E 873>B>2;5=8O ?5G0B=KE D>@<; >1>@C4>20=85 4;O >1@01>B:8 8 70?8A8 ?>;83@0D8G5A:8E 87>1@065=89; B5>@5B8G5A:85 >A=>2K 70?8A8 87>1@065=89; >?B8:>-<5E0=8G5A:85 A:0=8@CNI85 A8AB5<K; D>@<8@>20=85 8 @538AB@0F8O 87>1@065=89 =0 D>B>3@0D8G5A:8E, M;5:B@>D>B>3@0D8G5A:8E 8 D>@<=KE <0B5@80;0E; ?@>3@0<<=>-0??0@0B=K5 A@54AB20 4;O >1@01>B:8 B5:AB>2>9 8 8;;NAB@0F8>==>9 8=D>@<0F88; A:0=8@CNI0O B5E=8:0 4;O ?>;CG5=8O ?5G0B=KE D>@<; D>B><5E0=8G5A:>5 >1>@C4>20=85; B5>@5B8G5A:85 >A=>2K 48=0<8:8 =03@520, B5@<>AB0B8@>20=8O 8 ACH:8; B5>@5B8G5A:85 >A=>2K AB@C9=>9 >1@01>B:8 D>@<=KE :>?89; @5?@>4C:F8>==K5 D>B>0??0@0BK; :>=B0:B=>-:>?8@>20;L=K5 AB0=:8; >1>@C4>20=85 4;O <>=B060 8 >1@01>B:8 M:A?>=8@>20==KE D>B><0B5@80;>2; <5B>4K @0AG5B0 M;5<5=B>2 8 CAB@>9AB2 D>B><5E0=8G5A:>3> >1>@C4>20=8O. 187!.04.1>@C4>20=85 8 B5E=>;>38O ?5G0B8 "5>@5B8G5A:85 >A=>2K ?5G0B=KE ?@>F5AA>2; ?5G0B=>5 ?@>872>4AB2>; >1I85 A2545=8O > ?5G0B=KE <0B5@80;0E, ?5G0B=>< ?@>F5AA5 8 >1>@C4>20=88; B5>@5B8G5A:85 8 ?@0:B8G5A:85 >A=>2K <=>3>:@0A>G=>9 ?5G0B8. 07=0G5=85 8 >1;0ABL ?@8<5=5=8O ?5G0B=>3> >1>@C4>20=8O; A>AB02 8 B8?>2K5 AE5<K ?5G0B=KE CAB@>9AB2; D878G5A:85 >A=>2K ?5G0B=>3> ?@>F5AA0; >A>15==>AB8 ?5G0B=>3> :>=B0:B0 2 @07=KE B8?0E ?5G0B=KE CAB@>9AB2; :8=5<0B8:0 8 48=0<8:0 ?5G0B=>3> 0??0@0B0; >A>15==>AB8 =0AB@>9:8 ?5G0B=>3> 0??0@0B0; B8?K :@0A>G=KE 0??0@0B>2; @0AG5B ?>40G8 :@0A:8; B5=45=F88 @0728B8O :@0A>G=KE 0??0@0B>2; >?8A0=85 8 @0AG5B >A=>2=KE C7;>2 ?5G0B=KE <0H8=; D878G5A:0O ACI=>ABL ?@82>4:8 :@0A>:; ACH8;L=K5 8 ?@>B82>>B<0@>G=K5 CAB@>9AB20; <5E0=8:0 >B45;5=8O ;8AB0 >B AB>?K; <5E0=8:0 @02=5=8O ;8AB0; :>=B@>;L=>-1;>:8@CNI85 CAB@>9AB20; F8:;>2K5 ?0@0<5B@K ;8AB>?8B0NI53> CAB@>9AB20, @0AG5B 8 ?>AB@>5=85 B5E=>;>3>3@0<<; ;8AB>?5@540NI85 8 ?@85<=>-2K2>4=K5 CAB@>9AB20; >?8A0=85 8 @0AG5B >A=>2=KE C7;>2; ?;>A:>?5G0B=K5 8 B835;L=K5 ?5G0B=K5 CAB@>9AB20; A?5F80;L=>5 ?5G0B=>5 >1>@C4>20=85. 204!.05.1>@C4>20=85 8 B5E=>;>38O ?>A;5?5G0B=KE ?@>F5AA>2 @>HN@>2>G=>-?5@5?;5B=>5 ?@>872>4AB2>; >B45;:0 ?>;83@0D8G5A:>9 ?@>4C:F88; ?@>872>4AB2> 1@>HN@ 8 :=86=>-6C@=0;L=KE 8740=89 2 >1;>6:0E. @>872>4AB2> :=83 2 ?5@5?;5B=KE :@KH:0E =0 >?5@0F8>==>< >1>@C4>20=88; 02B><0B878@>20==>5 ?>B>G=>5 ?@>872>4AB2> :=83 2 ?5@5?;5B=KE :@KH:0E =0 >?5@0F8>==>< >1>@C4>20=88; 02B><0B878@>20==>5 ?>B>G=>5 ?@>872>4AB2> :=83 2 ?5@5?;5B=KE :@KH:0E; =07=0G5=85 8 :;0AA8D8:0F8O 1@>HN@>2>G=>-?5@5?;5B=>3> >1>@C4>20=8O; <0H8=K 4;O >1@01>B:8 ;8AB>2, B5B@0459, :=86=KE 1;>:>2, ?5@5?;5B=KE :@KH5:, 3>B>2KE :=83. A?><>30B5;L=>5 >1>@C4>20=85; >?5@0F8>==K5 02B><0BK 8 03@530B8@>20==K5 02B><0B878@>20==K5 :><?;5:AK, ?>B>G=K5 ;8=88, 381:85 B5E=>;>38G5A:85 A8AB5<K @07;8G=>3> ?@>872>4AB25==>3> =07=0G5=8O: 2:;04>G=>-H259=>@570;L=K5, 15AH259=>3> A:@5?;5=8O, 1;>:>>1@010BK20NI85, 4;O A1>@:8 8 >B45;:8 3>B>2>9 ?@>4C:F88. @8=F8? CAB@>9AB20 8 @01>BK; >A=>2=K5 B5>@5B8G5A:85 8 @0AG5B=K5 40==K5 > <5E0=8:5 B5E=>;>38G5A:8E ?@>F5AA>2, E0@0:B5@=KE 4;O 1@>HN@>2>G=>-?5@5?;5B=>3> >1>@C4>20=8O 8 8E 2;8O=88 =0 >A>15==>AB8 ?>AB@>5=8O 8 M:A?;C0B0F88 >1>@C4>20=8O; A@02=8B5;L=K5 >F5=:8 B5=45=F89 8 ?5@A?5:B82 @0728B8O @07;8G=KE 284>2 1@>HN@>2>G=>-?5@5?;5B=>3> >1>@C4>20=8O. 204!.06.2B><0B870F8O B5E=>;>38G5A:8E ?@>F5AA>2 2 ?>;83@0D88 A=>2=K5 ?>=OB8O 8 >?@545;5=8O B5>@88 C?@02;5=8O, >A=>2=K5 DC=:F8>=0;L=K5 1;>:8 !#, M;5<5=BK AB@C:BC@=KE AE5<, ?@8=F8? 459AB28O CAP, B5E=8G5A:85 A@54AB20 CAP 8 8E :;0AA8D8:0F8O ?> DC=:F8>=0;L=><C =07=0G5=8N; <0B5<0B8G5A:>5 >?8A0=85 A8AB5< C?@02;5=8O; <>45;8 48=0<8G5A:8E C?@02;O5<KE >1J5:B>2; ?>=OB85 A>AB>O=8O; C@02=5=8O A>AB>O=8O ;8=59=KE <>45;59 48=0<8G5A:8E A8AB5<; ?>=OB85 >1 C?@02;O5<>AB8 8 =01;N405<>AB8 48=0<8G5A:8E A8AB5<; C@02=5=85 2 ?5@5<5==KE 2E>4-2KE>4; 2KG8A;5=85 ?5@540B>G=KE DC=:F89 >4=><5@=KE 8 <=>3><5@=KE A8AB5<; B8?>2K5 725=LO; AB@C:BC@=K5 AE5<K !#; ?@8<5=5=85 3@04>2 4;O >B>1@065=8O A8AB5<K !#; B8?>2K5 ?5@540B>G=K5 DC=:F88 CAP; <8:@>?@>F5AA>@K 2 B5E=8G5A:8E A8AB5<0E C?@02;5=8O. A=>2=K5 =0?@02;5=8O 02B><0B870F88 ?>;83@0D8G5A:>3> ?@>872>4AB20; >1J5:BK 02B><0B870F88 2 ?>;83@0D88 8 8E A2>9AB20; DC=:F8>=0;L=K5 CAB@>9AB20 02B><0B8:8; 02B><0B870F8O ?5@5@01>B:8 ?>;83@0D8G5A:>9 8=D>@<0F88; :>48@>20=85 B5:AB0; B5E=8G5A:85 A@54AB20 ?5@5@01>B:8 B5:AB0 8 8;;NAB@0F89; B5E=8:>-M:>=><8G5A:85 ?>:070B5;8 02B><0B870F88. 136!.00.8AF8?;8=K A?5F80;870F88561!.06.!?5F80;L=>ABL  0H8=K 8 >1>@C4>20=85 ;5A=>3> :><?;5:A0 !.01.2B><0B8:0 8 02B><0B870F8O ?@>872>4AB25==KE ?@>F5AA>2 A=>2=K5 <5B>4K 02B><0B870F88; >1J5:BK C?@02;5=8O 2 ;5A=>< :><?;5:A5; 0=0;87 48A:@5B=KE 8 =5?@5@K2=KE >1J5:B>2; D>@<C;8@>20=85 8 A8AB5<0B870F8O 7040G 02B><0B878@>20==>3> C?@02;5=8O; >?B8<870F8>==K5 <>45;8; :@8B5@88 >?B8<0;L=>AB8; B5E=8G5A:85 A@54AB20 02B><0B870F88; 2>A?@8=8<0NI85 M;5<5=BK; <8:@>?@>F5AAK 8 #; 8A?>;=8B5;L=K5 CAB@>9AB20; 02B><0B8G5A:85 A8AB5<K @53C;8@>20=8O; ?@8=F8?K ?>AB@>5=8O 8 AB@C:BC@K !# "; <5B>48:0 @0AG5B0 M:>=><8G5A:>9 MDD5:B82=>AB8 A8AB5< 02B><0B8G5A:>3> C?@02;5=8O. 187!.02."5E=>;>38O <0H8=>AB@>5=8O A=>2=K5 ?>=OB8O 8 >?@545;5=8O; MB0?K B5E=>;>38G5A:>9 ?>43>B>2:8 ?@>872>4AB20; ?@><KH;5==>5 8745;85 :0: >1J5:B ?@>872>4AB20; @07@01>B:0 B5E=>;>38G5A:8E ?@>F5AA>2 873>B>2;5=8O 8 >1@01>B:8 ?@><KH;5==KE 8745;89; >F5=:0 B>G=>AB8 8E >1@01>B:8; B5E=8:>-M:>=><8G5A:85 @0AG5BK ?@8 >1>A=>20=88 B5E=>;>38G5A:8E @5H5=89; ?CB8 ?>2KH5=8O MDD5:B82=>AB8 ?@>872>4AB20 ?@><KH;5==KE 8745;89. 353!.03."5>@8O 8 :>=AB@C:F8O <0H8= 8 >1>@C4>20=8O >B@0A;8 !B@C:BC@0 8 AE5<0B8:0 <0H8=; :;0AA8D8:0F8O <0H8=; A>F80;L=0O 8 M:>=><8G5A:0O MDD5:B82=>ABL <0H8=; ?@>872>48B5;L=>ABL <0H8=; ?>=OB8O D0:B8G5A:>9, F8:;>2>9 8 B5E=>;>38G5A:>9 ?@>872>48B5;L=>AB8; <5B>4K 8 >?@545;5=8O; =0456=>ABL <0H8= 8 55 A2>9AB20: 4>;3>25G=>ABL, 157>B:07=>ABL, @5<>=B>?@83>4=>ABL 8 A>E@0=O5<>ABL; 35><5B@8G5A:0O, B5E=>;>38G5A:0O 8 :8=5<0B8G5A:0O B>G=>ABL <0H8=; >A=>2=K5 ?>;>65=8O 48=0<8:8 <0H8=; A2O7L 48=0<8G5A:8E E0@0:B5@8AB8: <0H8= A C@>2=5< HC<0 8 281@0F89; DC=:F8>=0;L=K5 C7;K 8 03@530BK <0H8=; A8AB5<K 02B><0B8G5A:>3> C?@02;5=8O <0H8=0<8 8 >1>@C4>20=85<; :>=AB@C:F88 <0H8= @07;8G=KE >B@0A;59 ;5A=>3> :><?;5:A0. 289!.04.0456=>ABL <0H8= 8 >1>@C4>20=8O A=>2=K5 ?>=OB8O 8 >?@545;5=8O B5>@88 =0456=>AB8; >1I0O :0@B8=0 8 70:>=><5@=>AB8 ?@>F5AA0 ?>B5@8 <0H8=>9 @01>B>A?>A>1=>AB8; D878:0 >B:07>2; @0AG5B =0456=>AB8 M;5<5=B>2 8 A8AB5<; C?@02;5=85 :0G5AB2>< 8 =0456=>ABLN <0H8= =0 AB048OE ?@>5:B8@>20=8O, 873>B>2;5=8O 8 M:A?;C0B0F88; 8A?KB0=8O <0H8= 8 >1>@C4>20=8O =0 =0456=>ABL; =03@C7>G=>-8<8B8@CNI85 CAB@>9AB20 8 AB5=4K. 187!.00.8AF8?;8=K A?5F80;870F88582!.07.!?5F80;L=>ABL  KB>2K5 <0H8=K 8 ?@81>@K !.01.KB>2K5 <0H8=K 8 ?@81>@K %>;>48;L=K5 <0H8=K 1KB>2>3> =07=0G5=8O: :;0AA8D8:0F8O, B8?K, :>=AB@C:F88, ?>:070B5;8 8 ?0@0<5B@K 1KB>2KE E>;>48;L=8:>2 8 <>@>78;L=8:>2; >A=>2=K5 C7;K 8 8E =07=0G5=85; :><?@5AA>@K 35@<5B8G=K5 E;04>=>2K5 4;O 1KB>2KE E>;>48;L=8:>2 8 <>@>78;L=8:>2; B5?;>>1<5==K5 0??0@0BK; 01A>@1F8>==K5 8 B5@<>M;5:B@8G5A:85 E>;>48;L=8:8 1KB>2>3> =07=0G5=8O. KB>2K5 :>=48F8>=5@K; ?@81>@K 02B><0B8:8 8 M;5:B@>>1>@C4>20=8O 1KB>2>9 E>;>48;L=>9 B5E=8:8; 1KB>2K5 <0H8=K 8 ?@81>@K: 1KB>2K5 AB8@0;L=K5 <0H8=K, 02B><0B870F8O AB8@0;L=KE <0H8=; ?K;5A>AK 1KB>2>3> =07=0G5=8O, M;5:B@>1@8B2K; 281@0F8>==K5 8 <0AA06=K5 ?@81>@K; D5=K; 25=B8;OB>@K; C2;06=8B5;8; 8>=870B>@K; 2>74CE>>G8AB8B5;8 8 :;8<0B875@K. @81>@K 4;O ?@83>B>2;5=8O 8 ?>4>3@520 ?8I8; 2>4>>G8AB8B5;L=K5 8 =03@520B5;L=K5 ?@81>@K, M;5:B@>CBN38 8 ?@81>@K 4;O 2;06=>9 >1@01>B:8 8745;89 87 B:0=59; :CE>==K5 :><109=K; M;5:B@>A>:>2K68<0;:8; :>D5<>;:8; M;5:B@><OA>@C1:8; M;5:B@><8:A5@K; ?>AC4><>5G=K5 <0H8=K. ?B8:>-<5E0=8G5A:85 ?@81>@K 1KB>2>3> =07=0G5=8O; >A=>2=K5 <5E0=87<K H259=KE <0H8=; ?@81>@K 2@5<5=8 1KB>2>3> =07=0G5=8O: :;0AA8D8:0F8O; >1I55 CAB@>9AB2> 8 @01>B0 ?@81>@>2 2@5<5=8; >A=>2=K5 <5E0=87<K 8 A8AB5<K ?@81>@>2 2@5<5=8 8 8E =07=0G5=85 :8=5<0B8G5A:0O AE5<0 G0A>2; ?@C68==K5 42830B5;8; G0A>2K5 >AF8;;OB>@K (<0OB=8:8 8 10;0=AK); <5E0=8G5A:85 A2>1>4=K5 8 =5A2>1>4=K5 A?CA:>2K5 @53C;OB>@K; M;5:B@><5E0=8G5A:85 ?@81>@K 2@5<5=8; :20@F52K5 >AF8;;OB>@K; H03>2K5 42830B5;8; F8D@>2K5 8=48:0B>@K. 270!.02."5>@5B8G5A:85 ?@>F5AAK 1KB>2KE <0H8= 8 ?@81>@>2 @>F5AAK ?>;CG5=8O E>;>40: 5AB5AB25==>5 8 8A:CAAB25==>5 >E;0645=85; B5@<>48=0<8G5A:85 >A=>2K ?@>F5AA>2 B@0=AD>@<0F88 B5?;0; A?>A>1K ?>;CG5=8O =87:8E B5<?5@0BC@; 4@>AA5;8@>20=85; @0AH8@5=85 307>2; MDD5:B 5;LBL5 8 0=:0-%8;LH0; A2>9AB20 8 B5@<>48=0<8:0 E;04035=B>2 8 @0AB2>@>2; 28@80;L=K5 C@02=5=8O >3>;N1>20 - 095@0; B5>@5B8G5A:85 F8:;K E>;>48;L=KE <0H8= 1KB>2>3> =07=0G5=8O; B5>@5B8G5A:89 ?@>F5AA @01>BK ?>@H=52>3> 8 @>B0F8>==>3> :><?@5AA>@0; 48=0<8:0 :@82>H8?=>-H0BC==>3> 8 :C;8A=>3> <5E0=87<>2; 48=0<8:0 :;0?0=>2; B5>@8O B5?;>>1<5=0 2 1KB>2>9 E>;>48;L=>9 B5E=8:5; B5?;>>B40G0 ?@8 :8?5=88 684:>AB8 8 :>=45=A0F88 ?0@0; B5?;>- 8 <0AA>>1<5= A 2;06=K< 2>74CE><; 0=0;8B8G5A:85 8 3@0D>0=0;8B8G5A:85 <5B>4K @0AG5B0; 87<5=5=85 A>AB>O=8O 2>74CE0 2 ?@>F5AA5 :>=48F8>=8@>20=8O; ?@>F5AAK >1@01>B:8 8745;89 87 B:0=59: ?@>F5AAK AB8@:8; 48=0<8:0 ?5@5<5I5=8O B:0=8 2> 2@0I0NI5<AO 10@010=5; B5>@8O 0:B820B>@=>3> ?@>F5AA0 AB8@:8; B5>@8O >B68<0 15;LO; ?@>F5AAK D8;LB@0F88 @0AB2>@>2; ?@>F5AAK ACH:8 8745;89 87 B:0=59; ?@>F5AAK 2;06=>-B5?;>2>9 >1@01>B:8 B:0=59; ?@>F5AAK A>548=5=8O B:0=59; C1>@>G=K5 ?@>F5AAK: ?@>F5AAK C40;5=8O ?K;8 8 >G8AB:8 8745;89; ?@>F5AAK >G8AB:8 307>2, 684:>AB59 8 @0AB2>@>2; ?@>F5AAK :>=48F8>=8@>20=8O ?><5I5=89. @>F5AAK <>9:8 1KB>2KE 8745;89 8 ?>AC4K; ?@>F5AAK >1;03>@06820=8O 2>74CE0; ?@>F5AAK E8<8G5A:>9 G8AB:8 8745;89; ?@>F5AAK >1@01>B:8 ?8I8: ?@>F5AAK >1@01>B:8 ?8I8 A25@E2KA>:>G0AB>B=>9 M=5@3859 (!' ?5G8, !' @07<>@06820B5;8, !' AC1;8<0B>@K); ?@>F5AAK ?5@5<5H820=8O 8 87<5;LG5=8O ?8I52KE ?@>4C:B>2; ?@>F5AAK ?>;CG5=8O A>:>2; ?@>F5AAK >1@01>B:8 ?8I52KE ?@>4C:B>2 8 684:>AB59. 190!.03.@>5:B8@>20=85 1KB>2KE <0H8= 8 ?@81>@>2 @8=F8?K 8 <5B>4K ?@>5:B8@>20=8O; C=8D8:0F8O ?@>5:B=KE @5H5=89 8 ?@>F54C@; B5E=8G5A:>5 7040=85 8 B5E=8G5A:>5 ?@54;>65=85; MA:87=K9 8 B5E=8G5A:89 ?@>5:B; @01>G0O 4>:C<5=B0F8O; B5E=8:>-M:>=><8G5A:>5 >1>A=>20=85 B5E=8G5A:>3> ?@>5:B0. >=AB@C8@>20=85 8 @0AG5B B8?>2KE 45B0;59, C7;>2 8 A>548=5=89 1KB>2KE <0H8= 8 ?@81>@>2; ?@>5:B8@>20=85 1KB>2KE <0H8= 8 ?@81>@>2: 2K1>@ ?@8=F8?80;L=>9 AE5<K 8 55 @0AG5B; ?;>A:>AB=0O 8 ?@>AB@0=AB25==0O :><?>=>2:0. @>5:B8@>20=85 1KB>2>9 E>;>48;L=>9 B5E=8:8; ?@>5:B8@>20=85 35@<5B8G=KE E;04>=>2KE :><?@5AA>@>2; 1KB>2KE :>=48F8>=5@>2; 1KB>2KE AB8@0;L=KE <0H8= 8 F5=B@8DC3, ?K;5C1>@>G=>9 B5E=8:8, ?@81>@>2 ;8G=>9 38385=K; ?@81>@>2 4;O >1@01>B:8 ?8I8; 1KB>2KE ?@81>@>2 2@5<5=8; >?B8:>-<5E0=8G5A:8E ?@81>@>2 8 1KB>2KE H259=KE <0H8=; >A>15==>AB8 !  1KB>2KE <0H8= 8 ?@81>@>2; 02B><0B878@>20==>5 ?@>5:B8@>20=85 1KB>2KE <0H8= 8 ?@81>@>2. 180!.04.-;5:B@>?@82>4 8 A8AB5<K C?@02;5=8O 1KB>2KE <0H8= 8 ?@81>@>2 -;5:B@>?@82>4 1KB>2KE <0H8= 8 ?@81>@>2; :;0AA8D8:0F8O M;5:B@>?@82>4>2; =03@C7>G=K5 8 <5E0=8G5A:85 E0@0:B5@8AB8:8; C@02=5=85 42865=8O M;5:B@>?@82>40; >A=>2=K5 B8?K M;5:B@>42830B5;59: ?>AB>O==>3> B>:0, A8=E@>==K5, 0A8=E@>==K5, :>;;5:B>@=K5. #=825@A0;L=K5 :>;;5:B>@=K5 <8:@>42830B5;8 8 8E ?@8<5=5=85; >4=>D07=K5 0A8=E@>==K5 42830B5;8; <5E0=8G5A:85 E0@0:B5@8AB8:8 8 A?>A>1K 2:;NG5=8O B@5ED07=KE 42830B5;59 2 >4=>D07=CN A5BL; 0A8=E@>==K5 42830B5;8 A ?CA:>2>9 >1<>B:>9 8 :>=45=A0B>@=K5 42830B5;8 2 <0H8=0E 1KB>2>3> =07=0G5=8O; 0A8=E@>==K5 8A?>;=8B5;L=K5 <8:@>42830B5;8 A ?>;=K< @>B>@><; H03>2K5 <8:@>42830B5;8 4;O A8AB5< C?@02;5=8O 1KB>2KE ?@81>@>2 2@5<5=8; <5B>48:0 2K1>@0 M;5:B@>42830B5;59. !8AB5<K C?@02;5=8O 1KB>2K<8 <0H8=0<8 8 ?@81>@0<8. @0:B8G5A:85 AE5<K C7;>2 C?@02;5=8O 8 02B><0B8G5A:>3> @53C;8@>20=8O @568<0<8 1KB>2KE ?@81>@>2 8 <0H8=; M;5:B@>==K5 40BG8:8 B5<?5@0BC@K, 402;5=8O, C@>2=O; <8:@>?@>F5AA>@ :0: CAB@>9AB2> C?@02;5=8O; B5E=8G5A:85 E0@0:B5@8AB8:8 A>2@5<5==>9 A5@88 <8:@>?@>F5AA>@>2 4;O C?@02;5=8O B5E=>;>38G5A:8<8 ?@>F5AA0<8 1KB>2KE CAB0=>2>:; C=825@A0;L=0O M;5:B@>==0O A8AB5<0 C?@02;5=8O 1KB>2K<8 M;5:B@>?@81>@0<8. 160!.05.803=>AB8:0 1KB>2KE <0H8= 8 ?@81>@>2 =>3>>1@0785 87<5@8B5;L=KE 7040G, 4803=>AB8G5A:8E ?0@0<5B@>2 1KB>2KE <0H8= 8 ?@81>@>2; A@54AB20 8 <5B>4K :>=B@>;O 8 4803=>AB8:8; 2K1>@ ?0@0<5B@>2 4;O 4803=>AB8:8; ?@8<5=5=85 2KG8A;8B5;L=>9 B5E=8:8 2 4803=>AB8G5A:8E :><?;5:A0E; >A=>2=K5 A?>A>1K ?>AB@>5=8O 0;3>@8B<>2 ?>8A:0 =58A?@02=>AB59. 84K 0??0@0BC@K :>=B@>;O 8 4803=>AB8:8; 87<5@5=85 8 :>=B@>;L <5E0=8G5A:8E, M;5:B@8G5A:8E, >?B8G5A:8E, @0480F8>==KE 8 4@C38E 4803=>AB8G5A:8E ?0@0<5B@>2 1KB>2KE <0H8= 8 ?@81>@>2; 0:BC0;L=K5 ?@>1;5<K 8 ?5@A?5:B82K @0728B8O A@54AB2 8 <5B>4>2 4803=>AB8:8  8 . 119!.06.8:@>?@>F5AA>@K, F8D@>2K5 CAB@>9AB20 8 AE5<>B5E=8:0 1KB>2KE <0H8= <?C;LA=0O F8D@>20O AE5<>B5E=8:0; >A=>2=K5 F8D@>2K5 CAB@>9AB20: B@8335@K, AG5BG8:8, @538AB@K, 70?><8=0NI85 CAB@>9AB20, ?@5>1@07>20B5;8 A83=0;>2; <8:@>?@>F5AA>@K, 8E 0@E8B5:BC@0, A8AB5<0 :><0=4; >A=>2K ?@8<5=5=8O F8D@>2KE CAB@>9AB2; ?@>3@0<<=>5 >15A?5G5=85, A?5F80;878@>20==K5 <8:@>?@>F5AA>@K 1KB>2KE <0H8=; AE5<>B5E=8:0 1KB>2KE <0H8= 8 ?@81>@>2: ?>:070B5;8 8 E0@0:B5@8AB8:8 0=0;>3>2KE M;5:B@>==KE CAB@>9AB2; >1@0B=0O A2O7L 8 55 2;8O=85 =0 ?>:070B5;8 8 E0@0:B5@8AB8:8 0=0;>3>2KE CAB@>9AB2; >15A?5G5=85 AB018;870F88 @568<>2 @01>BK 0=0;>3>2KE CAB@>9AB2; :0A:04K ?@5420@8B5;L=>3> CA8;5=8O; :>=5G=K5 CA8;8B5;L=K5 :0A:04K 8 >?5@0F8>==K5 CA8;8B5;8; ;>38G5A:85 M;5<5=BK =0 18?>;O@=KE 8 ?>;52KE B@0=78AB>@0E. 136!.00.8AF8?;8=K A?5F80;870F89543$".00.$0:C;LB0B82=K5 48AF8?;8=K450$".01.>5==0O ?>43>B>2:0450 A53> G0A>2 B5>@5B8G5A:>3> >1CG5=8O8262 5. !@>:8 >A2>5=8O >1@07>20B5;L=>9 ?@>3@0<<K ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 5.1. !@>: >A2>5=8O >A=>2=KE >1@07>20B5;L=KE ?@>3@0<< ?>43>B>2:8 8=65=5@0 ?@8 >G=>9 D>@<5 >1CG5=8O A>AB02;O5B 260 =545;L, 2 B>< G8A;5: B5>@5B8G5A:>5 >1CG5=85, 2:;NG0O =0CG=>-8AA;54>20B5;LA:CN @01>BC ABC45=B>2, ?@0:B8:C<K, 2 B>< G8A;5 ;01>@0B>@=K5, - 153 =545;8; M:70<5=0F8>==K5 A5AA88  =5 <5=55 19 =545;L; ?@0:B8:8 - 14 =545;L, 2 B>< G8A;5: CG51=0O - 4 =545;8; ?@>872>4AB25==0O - 6 =545;L; ?@5448?;><=0O - 4 =545;8; 8B>3>20O 3>AC40@AB25==0O 0BB5AB0F8O, 2:;NG0O ?>43>B>2:C 8 70I8BC 2K?CA:=>9 :20;8D8:0F8>==>9 @01>BK, - =5 <5=55 16 =545;L; :0=8:C;K, 2:;NG0O 8 =545;L ?>A;548?;><=>3> >B?CA:0, - =5 <5=55 38 =545;L. 5.2. ;O ;8F, 8<5NI8E A@54=55 (?>;=>5) >1I55 >1@07>20=85, A@>:8 >A2>5=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 8=65=5@0 ?> >G=>-70>G=>9 (25G5@=59) 8 70>G=>9 D>@<0< >1CG5=8O, C25;8G820NBAO 2C7>< 4> >4=>3> 3>40 >B=>A8B5;L=> =>@<0B82=>3> A@>:0, CAB0=>2;5==>3> ?. 1.3. =0AB>OI53> 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0. 5.3. 0:A8<0;L=K9 >1J5< CG51=>9 =03@C7:8 ABC45=B0 CAB0=02;8205BAO 54 G0A0 2 =545;N, 2:;NG0O 2A5 284K 53> 0C48B>@=>9 8 2=50C48B>@=>9 (A0<>AB>OB5;L=>9) CG51=>9 @01>BK. 5.4. 1J5< 0C48B>@=KE 70=OB89 ABC45=B0 ?@8 >G=>9 D>@<5 >1CG5=8O =5 4>;65= ?@52KH0BL 2 A@54=5< 70 ?5@8>4 B5>@5B8G5A:>3> >1CG5=8O 27 G0A>2 2 =545;N. @8 MB>< 2 C:070==K9 >1J5< =5 2E>4OB >1O70B5;L=K5 ?@0:B8G5A:85 70=OB8O ?> D878G5A:>9 :C;LBC@5 8 70=OB8O ?> D0:C;LB0B82=K< 48AF8?;8=0<. 5.5. @8 >G=>-70>G=>9 (25G5@=59) D>@<5 >1CG5=8O >1J5< 0C48B>@=KE 70=OB89 4>;65= 1KBL =5 <5=55 10 G0A>2 2 =545;N. 5.6. @8 70>G=>9 D>@<5 >1CG5=8O ABC45=BC 4>;6=0 1KBL >15A?5G5=0 2>7<>6=>ABL 70=OB89 A ?@5?>4020B5;5< 2 >1J5<5 =5 <5=55 160 G0A>2 2 3>4, 5A;8 C:070==0O D>@<0 >A2>5=8O >1@07>20B5;L=>9 ?@>3@0<<K (A?5F80;L=>AB8) =5 70?@5I5=0 A>>B25BAB2CNI8< ?>AB0=>2;5=85< @028B5;LAB20 >AA89A:>9 $545@0F88. 5.7. 1I89 >1J5< :0=8:C;O@=>3> 2@5<5=8 2 CG51=>< 3>4C 4>;65= A>AB02;OBL 7-10 =545;L, 2 B>< G8A;5 =5 <5=55 42CE =545;L 2 78<=89 ?5@8>4. 6. "@51>20=8O : @07@01>B:5 8 CA;>28O< @50;870F88 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 6.1. "@51>20=8O : @07@01>B:5 >A=>2=KE >1@07>20B5;L=KE ?@>3@0<< ?>43>B>2:8 8=65=5@0. 6.1.1. KAH55 CG51=>5 702545=85 A0<>AB>OB5;L=> @07@010BK205B 8 CB25@6405B >A=>2=CN >1@07>20B5;L=CN ?@>3@0<<C 8 CG51=K9 ?;0= 2C70 4;O ?>43>B>2:8 8=65=5@0 =0 >A=>25 =0AB>OI53> 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0. 8AF8?;8=K ?> 2K1>@C ABC45=B0 O2;ONBAO >1O70B5;L=K<8, 0 D0:C;LB0B82=K5 48AF8?;8=K, ?@54CA<0B@8205<K5 CG51=K< ?;0=>< 2KAH53> CG51=>3> 702545=8O, =5 O2;ONBAO >1O70B5;L=K<8 4;O 87CG5=8O ABC45=B><. C@A>2K5 @01>BK (?@>5:BK) @0AA<0B@820NBAO :0: 284 CG51=>9 @01>BK ?> 48AF8?;8=5 8 2K?>;=ONBAO 2 ?@545;0E G0A>2, >B2>48<KE =0 55 87CG5=85. > 2A5< 48AF8?;8=0< D545@0;L=>3> :><?>=5=B0 8 ?@0:B8:0<, 2:;NG5==K< 2 CG51=K9 ?;0= 2KAH53> CG51=>3> 702545=8O, 4>;6=0 2KAB02;OBLAO 8B>3>20O >F5=:0 (>B;8G=>, E>@>H>, C4>2;5B2>@8B5;L=>). 6.1.2. @8 @50;870F88 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K 2KAH55 CG51=>5 702545=85 8<55B ?@02>: 87<5=OBL >1J5< G0A>2, >B2>48<KE =0 >A2>5=85 CG51=>3> <0B5@80;0 4;O F8:;>2 48AF8?;8= - 2 ?@545;0E 5%, 0 4;O >B45;L=KE 48AF8?;8= F8:;0 - 2 ?@545;0E 10%; D>@<8@>20BL F8:; 3C<0=8B0@=KE 8 A>F80;L=>-M:>=><8G5A:8E 48AF8?;8=, :>B>@K9 4>;65= 2:;NG0BL 87 >48==04F0B8 107>2KE 48AF8?;8=, ?@82545==KE 2 =0AB>OI5< 3>AC40@AB25==>< >1@07>20B5;L=>< AB0=40@B5, 2 :0G5AB25 >1O70B5;L=KE A;54CNI85 4 48AF8?;8=K:  =>AB@0==K9 O7K: (2 >1J5<5 =5 <5=55 340 G0A>2),  $878G5A:0O :C;LBC@0 (2 >1J5<5 =5 <5=55 408 G0A>2),  B5G5AB25==0O 8AB>@8O ,  $8;>A>D8O . AB0;L=K5 107>2K5 48AF8?;8=K <>3CB @50;87>2K20BLAO ?> CA<>B@5=8N 2C70. @8 MB>< 2>7<>6=> 8E >1J548=5=85 2 <5648AF8?;8=0@=K5 :C@AK ?@8 A>E@0=5=88 >1O70B5;L=>3> <8=8<C<0 A>45@60=8O; 70=OB8O ?> 48AF8?;8=5  $878G5A:0O :C;LBC@0 ?@8 >G=>-70>G=>9 (25G5@=59), 70>G=>9 D>@<0E >1CG5=8O 8 M:AB5@=0B5 <>3CB ?@54CA<0B@820BLAO ?> 65;0=8N ABC45=B>2; >ACI5AB2;OBL ?@5?>4020=85 3C<0=8B0@=KE 8 A>F80;L=>-M:>=><8G5A:8E 48AF8?;8= 2 D>@<5 02B>@A:8E ;5:F8>==KE :C@A>2 8 @07=>>1@07=KE 284>2 :>;;5:B82=KE 8 8=48284C0;L=KE ?@0:B8G5A:8E 70=OB89, 7040=89 8 A5<8=0@>2 ?> ?@>3@0<<0<, @07@01>B0==K< 2 A0<>< 2C75 8 CG8BK20NI8< @538>=0;L=CN, =0F8>=0;L=>-MB=8G5A:CN, ?@>D5AA8>=0;L=CN A?5F8D8:C, 0 B0:65 =0CG=>-8AA;54>20B5;LA:85 ?@54?>GB5=8O ?@5?>4020B5;59, >15A?5G820NI8E :20;8D8F8@>20==>5 >A25I5=85 B5<0B8:8 48AF8?;8= F8:;0; CAB0=02;820BL =5>1E>48<CN 3;C18=C ?@5?>4020=8O >B45;L=KE @0745;>2 48AF8?;8=, 2E>4OI8E 2 F8:;K 3C<0=8B0@=KE 8 A>F80;L=>-M:>=><8G5A:8E, <0B5<0B8G5A:8E 8 5AB5AB25==>=0CG=KE 48AF8?;8=, 2 A>>B25BAB288 A ?@>D8;5< A?5F80;L=KE 48AF8?;8=, @50;87C5<KE 2C7><; CAB0=02;820BL 2 CAB0=>2;5==>< ?>@O4:5 =08<5=>20=85 A?5F80;870F89, =08<5=>20=85 48AF8?;8= A?5F80;870F89, 8E >1J5< 8 A>45@60=85, 0 B0:65 D>@<C :>=B@>;O 8E >A2>5=8O ABC45=B0<8; @50;87>2K20BL >A=>2=CN >1@07>20B5;L=CN ?@>3@0<<C ?>43>B>2:8 8=65=5@0 2 A>:@0I5==K5 A@>:8 4;O ABC45=B>2 2KAH53> CG51=>3> 702545=8O, 8<5NI8E A@54=55 ?@>D5AA8>=0;L=>5 >1@07>20=85 A>>B25BAB2CNI53> ?@>D8;O 8;8 2KAH55 ?@>D5AA8>=0;L=>5 >1@07>20=85. !>:@0I5=85 A@>:>2 ?@>2>48BAO =0 >A=>25 0BB5AB0F88 8<5NI8EAO 7=0=89, C<5=89 8 =02K:>2 ABC45=B>2, ?>;CG5==KE =0 ?@54K4CI5< MB0?5 ?@>D5AA8>=0;L=>3> >1@07>20=8O. @8 MB>< ?@>4>;68B5;L=>ABL A>:@0I5==KE A@>:>2 >1CG5=8O 4>;6=0 A>AB02;OBL =5 <5=55 B@5E ;5B ?@8 >G=>9 D>@<5 >1CG5=8O. 1CG5=85 2 A>:@0I5==K5 A@>:8 4>?CA:05BAO B0:65 4;O ;8F, C@>25=L >1@07>20=8O 8;8 A?>A>1=>AB8 :>B>@KE O2;ONBAO 4;O MB>3> 4>AB0B>G=K< >A=>20=85<. 6.2. "@51>20=8O : :04@>2><C >15A?5G5=8N CG51=>3> ?@>F5AA0. 50;870F8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0 4>;6=0 >15A?5G820BLAO ?5403>38G5A:8<8 :04@0<8, 8<5NI8<8, :0: ?@028;>, 107>2>5 >1@07>20=85, A>>B25BAB2CNI55 ?@>D8;N ?@5?>40205<>9 48AF8?;8=K 8 A8AB5<0B8G5A:8 70=8<0NI8<8AO =0CG=>9 8/8;8 =0CG=>-<5B>48G5A:>9 45OB5;L=>ABLN. @5?>4020B5;8 A?5F80;L=KE 48AF8?;8=, :0: ?@028;>, 4>;6=K 8<5BL CG5=CN AB5?5=L 8/8;8 >?KB 45OB5;L=>AB8 2 A>>B25BAB2CNI59 ?@>D5AA8>=0;L=>9 AD5@5; # =0 >A=>20=88 @50;L=KE 40==KE <>65B C:070BL =5>1E>48<CN 4>;N ?@5?>4020B5;59, 8<5NI8E CG5=CN AB5?5=L 8 720=85. 6.3. "@51>20=8O : CG51=>-<5B>48G5A:><C >15A?5G5=8N CG51=>3> ?@>F5AA0. 50;870F8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0 4>;6=0 >15A?5G820BLAO 4>ABC?>< :064>3> ABC45=B0 : 1070< 40==KE 8 181;8>B5G=K< D>=40<, A>>B25BAB2CNI8< ?> A>45@60=8N ?>;=><C ?5@5G=N 48AF8?;8= >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<<K 87 @0AG5B0 >15A?5G5==>AB8 CG51=8:0<8 8 CG51=>-<5B>48G5A:8<8 ?>A>18O<8 =5 <5=55 0,5 M:7. =0 >4=>3> ABC45=B0, =0;8G85< <5B>48G5A:8E ?>A>189 8 @5:><5=40F89 ?> 2A5< 48AF8?;8=0< 8 ?> 2A5< 2840< 70=OB89 - ?@0:B8:C<0<, :C@A>2><C 8 48?;><=><C ?@>5:B8@>20=8N, ?@0:B8:0<, 0 B0:65 =03;O4=K<8 ?>A>18O<8, 0C48>-, 2845>- 8 <C;LB8<5489=K<8 <0B5@80;0<8. 01>@0B>@=K<8 ?@0:B8:C<0<8 4>;6=K 1KBL >15A?5G5=K 48AF8?;8=K: D878:0, E8<8O, 8=D>@<0B8:0; :>=AB@C:F8>==K5 <0B5@80;K, A>?@>B82;5=85 <0B5@80;>2, 157>?0A=>ABL 687=545OB5;L=>AB8, B5E=>;>38G5A:85 ?@>F5AAK 2 <0H8=>AB@>5=88, <0B5@80;>2545=85, <5B@>;>38O 8 2708<>70<5=O5<>ABL, B5>@8O <5E0=87<>2 8 <0H8=, 45B0;8 <0H8=, M;5:B@>B5E=8:0, M;5:B@>=8:0 8 M;5:B@>?@82>4, B5?;>B5E=8:0, 02B><0B870F8O B5E=>;>38G5A:8E ?@>F5AA>2, 0 B0:65 48AF8?;8=K A?5F80;870F89. @0:B8G5A:85 70=OB8O 4>;6=K 1KBL ?@54CA<>B@5=K ?@8 87CG5=88 48AF8?;8=: <0B5<0B8:0, B5>@5B8G5A:0O <5E0=8:0, 8=65=5@=0O 3@0D8:0, M:>=><8:0 ?@><KH;5==>AB8, <5=546<5=B 8 <0@:5B8=3, >@30=870F8O 8 ?;0=8@>20=85 ?@>872>4AB20; :>=B@>;L, CG5B 8 B5E=8:>-M:>=><8G5A:89 0=0;87 2 >B@0A;8. !5<8=0@A:85 70=OB8O 4>;6=K 1KBL ?@54CA<>B@5=K 4;O 3C<0=8B0@=KE 8 A>F80;L=>-M:>=><8G5A:8E 48AF8?;8=. 81;8>B5G=K9 D>=4 4>;65= A>45@60BL A;54CNI85 6C@=0;K:  725AB8O 2C7>2. 0H8=>AB@>5=85 ;  5AB=8: <0H8=>AB@>5=8O ;  @8:;04=0O <5E0=8:0 ;  5AB=8: "#. 0H8=>AB@>5=85 ;  2B><0B870F8O 8 C?@02;5=85 2 <0H8=>AB@>5=88 . 6.4. "@51>20=8O : <0B5@80;L=>-B5E=8G5A:><C >15A?5G5=8N CG51=>3> ?@>F5AA0. KAH55 CG51=>5 702545=85, @50;87CNI55 >A=>2=CN >1@07>20B5;L=CN ?@>3@0<<C ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0, 4>;6=> @0A?>;030BL <0B5@80;L=>-B5E=8G5A:>9 107>9, >15A?5G820NI59 ?@>2545=85 2A5E 284>2 ;01>@0B>@=>9, ?@0:B8G5A:>9, 48AF8?;8=0@=>9 8 <5648AF8?;8=0@=>9 ?>43>B>2:8 8 =0CG=>-8AA;54>20B5;LA:>9 @01>BK ABC45=B>2, ?@54CA<>B@5==KE ?@8<5@=K< CG51=K< ?;0=>< 8 A>>B25BAB2CNI59 459AB2CNI8< A0=8B0@=>-B5E=8G5A:8< =>@<0< 8 ?@>B82>?>60@=K< ?@028;0<. 01>@0B>@88 2KAH53> CG51=>3> 702545=8O 4>;6=K 1KBL >A=0I5=K A>2@5<5==K<8 AB5=40<8 8 >1>@C4>20=85<, ?>72>;ONI8< 87CG0BL B5E=>;>38G5A:85 <0H8=K 8 ?@>F5AAK 2 A>>B25BAB288 A @50;87C5<>9 2C7>< A?5F80;L=>ABLN (A?5F80;870F859).  A>AB025 2C70 4>;6=K 1KBL F5=B@K, :;0AAK 8 ;01>@0B>@88, >A=0I5==K5 A>2@5<5==>9 :><?LNB5@=>9 B5E=8:>9. 6.5. "@51>20=8O : >@30=870F88 ?@0:B8:. 6.5.1. &5;8 CG51=>9 ?@0:B8:8: >1I55 >7=0:><;5=85 A> AB@C:BC@>9 ?@54?@8OB8O; >7=0:><;5=85 A B5E=>;>38G5A:8<8 ?@>F5AA0<8 8 >1>@C4>20=85< >A=>2=KE 8 2A?><>30B5;L=KE F5E>2; >7=0:><;5=85 A <5B>40<8 :>=B@>;O B5E=>;>38G5A:8E ?0@0<5B@>2 8 :0G5AB20 ?@>4C:F88; >7=0:><;5=85 A >A=>2=K<8 ?;0=>2>-M:>=><8G5A:8<8 ?>:070B5;O<8 ?@54?@8OB8O. 6.5.2. &5;8 ?@>872>4AB25==>9 ?@0:B8:8: 70:@5?;5=85 7=0=89, ?>;CG5==KE 2 ?@>F5AA5 B5>@5B8G5A:>3> >1CG5=8O 8 ?@8>1@5B5=85 8AE>4=KE ?@0:B8G5A:8E 8=65=5@=KE =02K:>2 ?> A?5F80;L=>AB8; 87CG5=85 :>=AB@C:B82=KE M;5<5=B>2 >A=>2=>3> 8 2A?><>30B5;L=>3> >1>@C4>20=8O, A8AB5<K B5E=8G5A:>9 M:A?;C0B0F88 8 @5<>=B0 >1>@C4>20=8O, AB@C:BC@K 8 DC=:F89 A;C61K 3;02=>3> <5E0=8:0; 87CG5=85 2>?@>A>2 >@30=870F88 8 ?;0=8@>20=8O ?@>872>4AB20, D>@< 8 <5B>4>2 @50;870F88 ?@>4C:F88 8 CA;C3; >7=0:><;5=85 A 4>:C<5=B0<8 A8AB5<K C?@02;5=8O :0G5AB2>< ?@>4C:F88, 55 @50;870F859 8 A5@B8D8:0F859; >7=0:><;5=85 A 7040G0<8 8 45OB5;L=>ABLN A;C61 >E@0=K B@C40 8 70I8BK >:@C60NI59 A@54K; A1>@ <0B5@80;>2 4;O :C@A>2KE ?@>5:B>2 8 @01>B. 6.5.3. &5;8 ?@5448?;><=>9 ?@0:B8:8: 70:@5?;5=85 B5>@5B8G5A:8E 7=0=89 ?> A?5F80;L=K< 48AF8?;8=0<; 87CG5=85 :>=:@5B=KE B5E=>;>38G5A:8E <0H8= 8 ?@>F5AA>2, @57C;LB0B>2 =0CG=>-8AA;54>20B5;LA:>9 8;8 ?@>5:B=>9 45OB5;L=>AB8; 87CG5=85 A8AB5<K C?@02;5=8O :0G5AB2>< ?@>4C:F88, B5E=8:>-M:>=><8G5A:8E ?>:070B5;59, <5@>?@8OB89 ?> B5E=8:5 157>?0A=>AB8 8 >E@0=5 >:@C60NI59 A@54K; ?@8>1@5B5=85 ?@0:B8G5A:8E =02K:>2 4;O 2K?>;=5=8O 2K?CA:=>9 @01>BK; A1>@ <0B5@80;>2 4;O 2A5E @0745;>2 2K?CA:=>9 (48?;><=>9) @01>BK. 6.5.4. BB5AB0F8O ?> 8B>30< ?@0:B8:8 ?@>2>48BAO =0 >A=>20=88 >D>@<;5==>3> 2 A>>B25BAB288 A CAB0=>2;5==K<8 B@51>20=8O<8 ?8AL<5==>3> >BG5B0 8 >B7K20 @C:>2>48B5;O ?@0:B8:8 >B ?@54?@8OB8O. > 8B>30< ?@0:B8:8 2KAB02;O5BAO >F5=:0 (>B;8G=>, E>@>H>, C4>2;5B2>@8B5;L=>). 7. "@51>20=8O : C@>2=N ?>43>B>2:8 2K?CA:=8:0 ?> =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==>3> A?5F80;8AB0  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 7.1. "@51>20=8O : ?@>D5AA8>=0;L=>9 ?>43>B>2;5==>AB8 2K?CA:=8:0. K?CA:=8: 4>;65= C<5BL @5H0BL 7040G8, A>>B25BAB2CNI85 53> :20;8D8:0F88, C:070==>9 2 ?. 1.3. =0AB>OI53> 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0: @07@010BK20BL ?5@A?5:B82=K5 :>=AB@C:F88 <0H8= 8 >1>@C4>20=8O <5B0;;C@38G5A:>3> ?@>872>4AB20 A ?@8<5=5=85< ?5@A>=0;L=KE :><?LNB5@>2 8 A>2@5<5==KE A8AB5< 02B><0B878@>20==>3> ?@>5:B8@>20=8O; 2K18@0BL 8 @0AAG8BK20BL >A=>2=>5 8 2A?><>30B5;L=>5 >1>@C4>20=85 A CG5B>< @5H5=8O 7040G M=5@3>- 8 @5AC@A>A15@565=8O, 0 B0:65 70I8BK >:@C60NI59 A@54K >B B5E=>35==KE 2>7459AB289 ?@>872>4AB20; 2K18@0BL 8 >1>A=>2K20BL MDD5:B82=K5 <5B>4K >@30=870F88 ?@>872>4AB20, 53> <5B@>;>38G5A:>3> >15A?5G5=8O, B5E=8G5A:>3> :>=B@>;O 8 8=D>@<0F8>==>3> >1A;C6820=8O A 8A?>;L7>20=85< 2KG8A;8B5;L=>9 B5E=8:8; 2K?>;=OBL 8AA;54>20=8O B5E=>;>38G5A:8E <0H8= 8 >1>@C4>20=8O, 2 B>< G8A;5 A ?@8<5=5=85< <5B>4>2 <0B5<0B8G5A:>3> <>45;8@>20=8O; 2K18@0BL <0B5@80; 8 @568< 53> >1@01>B:8, 8AE>4O 87 CA;>289 53> M:A?;C0B0F88 8 :><?;5:A0 ?@54JO2;O5<KE B@51>20=89; 8A?>;L7>20BL ?@>3@5AA82=K5 <5B>4K M:A?;C0B0F88 8 @5<>=B0 B5E=>;>38G5A:>3> >1>@C4>20=8O, ?@8<5=OBL 2KA>:>MDD5:B82=K5 B5E=>;>388 ?>2KH5=8O M:A?;C0B0F8>==>9 =0456=>AB8 45B0;59 <0H8=, <5B0;;>@56CI53> 8 B5E=>;>38G5A:>3> 8=AB@C<5=B0; 2K18@0BL >A=>2=K5 ?@8=F8?K 8 <5B>4K 8A?KB0=89, 0=0;878@>20BL 8 >1@010BK20BL @57C;LB0BK 8AA;54>20=89 8 87<5@5=89; >F5=820BL B5E=8G5A:85 8 >@30=870F8>==K5 @5H5=8O A ?>78F89 4>AB865=8O :0G5AB20 ?@>4C:F88 8 8E 2>7459AB28O =0 >:@C60NICN A@54C; A>AB02;OBL >17>@K =0CG=>-B5E=8G5A:>9 ;8B5@0BC@K 2 >1;0AB8 A2>59 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8 8 ?@>2>48BL ?0B5=B=K9 ?>8A:. 7.2. "@51>20=8O : 8B>3>2>9 3>AC40@AB25==>9 0BB5AB0F88 2K?CA:=8:0. 7.2.1. B>3>20O 3>AC40@AB25==0O 0BB5AB0F8O 8=65=5@0 2:;NG05B 2K?CA:=CN :20;8D8:0F8>==CN @01>BC 8 3>AC40@AB25==K9 M:70<5=, ?>72>;ONI89 2KO28BL B5>@5B8G5A:CN ?>43>B>2:C : @5H5=8N ?@>D5AA8>=0;L=KE 7040G. 7.2.2. "@51>20=8O : 2K?CA:=>9 :20;8D8:0F8>==>9 @01>B5 2K?CA:=8:0. 8?;><=0O @01>B0 (?@>5:B) 4>;6=0 1KBL ?@54AB02;5=0 2 D>@<5 @C:>?8A8. "@51>20=8O : A>45@60=8N, >1J5<C 8 AB@C:BC@5 48?;><=>9 @01>BK (?@>5:B0) >?@545;ONBAO 2KAH8< CG51=K< 702545=85< =0 >A=>20=88 >;>65=8O >1 8B>3>2>9 3>AC40@AB25==>9 0BB5AB0F88 2K?CA:=8:>2 2KAH8E CG51=KE 702545=89, CB25@645==>3> 8=8AB5@AB2>< >1@07>20=8O >AA88, 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0 ?> =0?@02;5=8N  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 8 <5B>48G5A:8E @5:><5=40F89 #. 7.2.3. "@51>20=8O : 3>AC40@AB25==><C M:70<5=C. 5@5G5=L 48AF8?;8=, 2K=5A5==KE =0 8B>3>2K9 3>AC40@AB25==K9 M:70<5=, >?@545;O5BAO 2C7>< A CG5B>< >A>15==>AB59 @50;87C5<>9 >1@07>20B5;L=>9 ?@>3@0<<K. >@O4>: ?@>2545=8O 8 ?@>3@0<<0 3>AC40@AB25==>3> M:70<5=0 ?> A?5F80;L=>ABO<, >B=>AOI8<AO : =0?@02;5=8N ?>43>B>2:8 48?;><8@>20==KE A?5F80;8AB>2  "5E=>;>38G5A:85 <0H8=K 8 >1>@C4>20=85 , >?@545;ONBAO 2C7>< =0 >A=>20=88 <5B>48G5A:8E @5:><5=40F89 8 A>>B25BAB2CNI8E ?@8<5@=KE ?@>3@0<<, @07@01>B0==KE # 2C7>2 ?> >1@07>20=8N 2 >1;0AB8 <0H8=>AB@>5=8O 8 ?@81>@>AB@>5=8O, # 2C7>2 ?> >1@07>20=8N 2 >1;0AB8 <5B0;;C@388, 0 B0:65 =0 >A=>20=88 >;>65=8O >1 8B>3>2>9 3>AC40@AB25==>9 0BB5AB0F88 2K?CA:=8:>2 2KAH8E CG51=KE 702545=89, CB25@645==>3> 8=8AB5@AB2>< >1@07>20=8O >AA88, 8 =0AB>OI53> 3>AC40@AB25==>3> >1@07>20B5;L=>3> AB0=40@B0. !!"": #G51=>-<5B>48G5A:>5 >1J548=5=85 2C7>2 ?> >1@07>20=8N 2 >1;0AB8 <0H8=>AB@>5=8O 8 ?@81>@>AB@>5=8O @54A540B5;L !>25B0 # ______________ . . $54>@>2 0<5AB8B5;L ?@54A540B5;O !>25B0 # ______________ !. . >@HC=>2 #G51=>-<5B>48G5A:>5 >1J548=5=85 2C7>2 ?> >1@07>20=8N 2 >1;0AB8 <5B0;;C@388 @54A540B5;L !>25B0 # _____________ .. !. 0@010A>2 0<5AB8B5;L ?@54A540B5;O !>25B0 # _____________ . . !>;>2L52 !!: #?@02;5=85 >1@07>20B5;L=KE ?@>3@0<< 8 AB0=40@B>2 2KAH53> 8 A@54=53> ?@>D5AA8>=0;L=>3> >1@07>20=8O ____________________ . . (5AB0:>2 0G0;L=8: >B45;0 B5E=8G5A:>3> >1@07>20=8O ____________________ . . >?>20 ;02=K9 A?5F80;8AB __________________ !.. '5@:>2A:89      PAGE 50 * , @    7[kd:$$Ifl4F9!$!S    4 laf4 $$If`a$ $$If`a$Rkd$$IfF9!$!S    a  &.0>lvRkd$$IfF9!$!S    a $$If`a$ $$If`a$vx(ERkdD!$$IfF9!$!S    a $$Ifa$ $$If`a$Rkd $$IfF9!$!S    a(\VX`bpz $$Ifa$Rkd"$$IfF9!$!S    a $$If`a$ $If`$If $$Ifa$ TV h$&Z\\^  "!$!!!!!T"V"####$$%%~%%%%D&F&&&&&@'B'''j(l(((2)4)\*^*++++F,H,,,--J-L--.b.d.|/~/h1j11122422h X5;CJh X h XCJh XCJNHZ h $If`$If $$Ifa$ $$If`a$Rkd"$$IfF9!$!S    a0 f &&& $If`$If #$$Ifa$ $$If`a$Rkd:#$$IfF9!$!S    a&&&&B-D-J- $If`$If $$Ifa$ $$If`a$Rkd#$$IfF9!$!S    aJ-L-Z-->6@6H6J6>Rkd%$$IfF9!$!S    a $If`$If $$If`a$Rkdr$$$IfF9!$!S    a22d3f3.4044444"6$6H6J666666677r7778899(:*:::^;`;<<<<==>>???*@@@XAZAAA B"BBBNCPCCCDDDD@EJEXEEEE8F:FGG4H6HHHJJJJZK\KKKLL6L h X5 h X5CJh X h XCJh XCJNHYJ6X6666666Rkd%$$IfF9!$!S    a $$If`a$ $$If`a$677r7???~ $$Ifa$ $If`$If $$1$If $$If`a$RkdF&$$IfF9!$!S    a???*@>E@EHEz $$Ifa$ $If`$If $x$If^xa$ $$If`a$Rkd&$$IfF9!$!S    aHEJEXEEHHHz $$Ifa$ $If`$If $d$If^da$ $$If`a$Rkd'$$IfF9!$!S    aHHHI,L.L6L8L>Rkd($$IfF9!$!S    a $If`$If $$If`a$Rkd6($$IfF9!$!S    a6L8LFLLOOjOlOOOOOOVPQQ>R@R SSpSrSSS6T8TzTT:U@ڎ܎>@  prdfȒʒPZ\jHJvxؕڕ 2<>Lfh̘ΘdfƚȚƛЛқTV " h X5 h X5CJ h XCJ h XNHh XZȋ:Rkd/$$IfF9!$!S    a $$1$Ifa$ $$Ifa$ $$If`a$Rkd /$$IfF9!$!S    alPRZ}s $If`$7$1$If`7a$ $$If`a$RkdD0$$IfF9!$!S    a $$1$Ifa$ $$Ifa$ Z\j24<| $If`$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd1$$IfF9!$!S    a<>LƛțЛ| $If`$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd1$$IfF9!$!S    aЛқ0PRZ| $If`$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd:2$$IfF9!$!S    aPZ\jBD  lnХҥdfȧʧ*,TV"$hjаҰ:< NPNP|~ h X5CJNHh XCJNH h X5 h X5CJ h XCJ h XNHh XSZ\j| $If`$7$1$If`7a$ $$1$Ifa$ $$If`a$Rkd2$$IfF9!$!S    a:Rkd4$$IfF9!$!S    a $$1$Ifa$ $$Ifa$ $$If`a$Rkdr3$$IfF9!$!S    aH{i[$ & F$1$Ifa$$ & F7$1$If`7a$$ & F$Ifa$ $$If`a$Rkd4$$IfF9!$!S    a $$1$Ifa$ $$Ifa$.Zoa$ & F$1$Ifa$ & F7$If`7$ & F$Ifa$ $$If`a$Rkdh5$$IfF9!$!S    a$ & F$1$Ifa$ RT\}oa$ & F$1$Ifa$$ & F$1$Ifa$$ & F7$1$If`7a$$ & F$Ifa$ $$If`a$Rkd6$$IfF9!$!S    a ^` "vxڿܿ>@\^l np@BvxtvJ*,VX~vxHJBDprZ h X5CJh Xh XCJNH h XCJ[\^l}oa$ & F$1$Ifa$$ & F$1$Ifa$$ & F7$1$If`7a$$ & F$Ifa$ $$If`a$Rkd6$$IfF9!$!S    aJlnv}oa$ & F$1$Ifa$$ & F$1$Ifa$$ & F7$1$If`7a$$ & F$Ifa$ $$If`a$Rkd<7$$IfF9!$!S    avx}oa$ & F$1$Ifa$$ & F$1$Ifa$$ & F7$1$If`7a$$ & F$Ifa$ $$If`a$Rkd7$$IfF9!$!S    a RZ\jKUkd9$$If4F9!$!S    af4 $$If`a$Rkdt8$$IfF9!$!S    aZ\z|DFBD68~JLxzFHfh02"$lnhj68bd&(LNZ\h XCJNH h XCJ h X5 h X5CJh XY"X:<D $If`$IfUkd9$$If4F9!$!S    af4 $$If`a$DFTtv~>Rkd;$$IfF9!$!S    a $If`$If $$If`a$Rkd|:$$IfF9!$!S    a>"Rkd;$$IfF9!$!S    a $If`$If $$If`a$ "$2dln|NRkd<$$IfF9!$!S    a $$If`a$RkdP<$$IfF9!$!S    a.08 $If`$If$1$If $$If`a$Rkd=$$IfF9!$!S    a*,8:Hfh02`b*,"$JLtv(*8      Z \   J L Z     " ( *     pr,2 h XNH h X5h X h XCJh XCJNHZ8:H ( $If`$If($1$If $$If`a$RkdN>$$IfF9!$!S    a(*8@ B J  $If`$If$1$If $$If`a$Rkd>$$IfF9!$!S    aJ L Z    $If`$If $$Ifa$ $$If`a$Rkdx?$$IfF9!$!S    ahjdf`bbdXZrt`b(*X Z n p   !!F!H!J!!!"""H$J$|&~&r't'(((())"+$+f,h,,,|-~-0 00 h XNH h XCJ h X5 h X5CJh X h XCJh XCJNHTNPX $If`$If($1$If $$If`a$Rkd@$$IfF9!$!S    aXZhd f n  $If`$If $$If`a$Rkd@$$IfF9!$!S    an p ~      !NRkdA$$IfF9!$!S    a $$If`a$RkdLA$$IfF9!$!S    a!!!>!F!H!J!!NKC$$If$Rkd C$$IfF9!$!S    a $$If`a$RkdB$$IfF9!$!S    a!!!!"f"""#$%b%%%xx$ & F h1$^a$ $ & F1$a$ ' & F`$a$*$$1$a$EkdC$$Ifl0 #R4 la) $$1$Ifa$ %%&'*^+-t.0118222*3,3357 89%$ & Fa$ & F $ & F1$a$*$ $ & F1$a$ $ & F1$`a$' $ & F1$a$$ & F h1$^a$0001211182*3,3333T4V4`5b5666688;;|<~<???d@f@ABB(D*DFFGGxHzH K K LLLLMMNNNN"O$OPP@QBQQQzR|RRSSSSh XCJEHNHOJQJh XCJEHOJQJh XB*NHhphh XB*hph h X56 h X;CJ h X5 h XCJh X h XNHD9P:~;?ADFG"MMQR\@\\\\R__aaccddfdddeeRgTghhjjjjppt t8u:uu6v8v^w`wwwbydyTzVzzz||}}>~@~~~hjhjځ^ނh X;OJQJ h XCJ h X5 h XEH h XNHh Xh XCJEHNHOJQJh XCJEHOJQJLR__fc ee}ځ^t $ & F1$a$ $1$`a$ % & F`"$1$a$ $1$`a$ $ & F1$a$ hj 02>@`bv0^`dfjlprvx h XCJhr0JCJmHnHuh X0JCJjh X0JCJUjh XU h X5h X h XNH%t hprv4Z\ҏԏln1$^1$$1$a$ $1$`a$ ' & F`.0~BF\^bdhjnptv!$a$ 1$^`1$1$6x x x x 8x 8x x x x.........)()() 00P. A!"#$S%7 8$DpP$$If{!vh5#v:V l 54a{^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a^$$If!vh55"#v#v":V 55"4a$$If!vh55!5S#v#v!#vS:V ,55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/ /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/  /  / / 4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / /  / / 4a$$Ifl!vh55!5S#v#v!#vS:V l455!5S/  / /  4af4$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$Ifl!vh55!5S#v#v!#vS:V l455!5S/ / / / 4af4$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V ,,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V ,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V ,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V ,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V ,55!5S/ / /  / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4a$$If!vh55!5S#v#v!#vS:V 4,55!5S/  /  4af4$$If!vh55!5S#v#v!#vS:V 4,55!5S/ / /  / / 4af4$$If!vh55!5S#v#v!#vS:V 55!5S/  / /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / /  / / / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/  /  / 4a$$If!vh55!5S#v#v!#vS:V 55!5S/ / / / 4ab$$If) !vh55R#v#vR:V l55R4a) ^, 666666666vvvvvvvvv66666686666666666666666666666666666666666666666666666666hH6666666666666666666666666666666666666666666666666666666666666666662 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~_HmHnHsHtHB`B 1KG=K91$CJ_HmHsHtHF@F  03>;>2>: 1$$1$@&a$5J@J  03>;>2>: 2$<@& 5;CJ<@<  03>;>2>: 3 $1$@&B@B  03>;>2>: 4$$1$@&a$ZZ  03>;>2>: 5 & F1$<@& h CJOJQJ^^  03>;>2>: 6 & F1$<@& h6CJOJQJZZ  03>;>2>: 7 & F1$<@& h CJOJQJ^^  03>;>2>: 8 & F1$<@& h6CJOJQJ^ ^  03>;>2>: 9 & F1$<@& h6CJOJQJBA`B A=>2=>9 H@8DB 0170F0\i@\ 01KG=0O B01;8F0 :V 44 la .k . 0 5B A?8A:0 P"P 0720=85 >1J5:B0 $1$a$ 5;CJBB@B A=>2=>9 B5:AB $1$a$HOH Body Text 2$71$`7a$CJ<"< Body Text 231$CJ>2> Body Text 31$6CJL @BL 86=89 :>;>=B8BC;1$ 9r 4)@Q4 ><5@ AB@0=8FK^Ob^ Body Text Indent 2$1$`a$ CJOJQJFOrF Body Text 21$1$`a$DD Document Map 1$-D OJQJ>o> Iau?iueCJ_HmHsHtHJJ caaieiaie 2$$x1$`a$pOp Iniiaiie oaeno n ionooiii 3$xx1$`a$5N/N FR2$hd1$^ha$CJ_HmHsHtH:: ciae i?eia?aieyCJ4/4 Iniiaiie o?eooDD oaeno i?eia?aiey `>> Iniiaiie oaeno $a$N@N 5@E=89 :>;>=B8BC;!1$ p#@O"@ Plain Text"1$ CJOJQJ8O28 Body Text 22#CJhC@Bh A=>2=>9 B5:AB A >BABC?><$$1$^`a$nR@Rn A=>2=>9 B5:AB A >BABC?>< 2%$ & F1$`a$56Zb6 "5:AB&1$ CJOJQJjS@rj A=>2=>9 B5:AB A >BABC?>< 3'$ & F1$`a$8O8 Body Text ($1$a$<o< Normal)CJ_HmHsHtHHPH A=>2=>9 B5:AB 2*$a$5u:>`: 0720=85 +$1$a$5PK![Content_Types].xmlj0Eжr(΢Iw},-j4 wP-t#bΙ{UTU^hd}㨫)*1P' ^W0)T9<l#$yi};~@(Hu* Dנz/0ǰ $ X3aZ,D0j~3߶b~i>3\`?/[G\!-Rk.sԻ..a濭?PK!֧6 _rels/.relsj0 }Q%v/C/}(h"O = C?hv=Ʌ%[xp{۵_Pѣ<1H0ORBdJE4b$q_6LR7`0̞O,En7Lib/SeеPK!kytheme/theme/themeManager.xml M @}w7c(EbˮCAǠҟ7՛K Y, e.|,H,lxɴIsQ}#Ր ֵ+!,^$j=GW)E+& 8PK!Ƶtheme/theme/theme1.xmlYnE#;8U i-qN3'JH DA\8 R>CW]{'ސ{g?x݈]"$q+_,y>8{7 K }xLވHe 2{Rܜaˋ??<ߟdžSr$L].<İT̟72S"ѵ_JwL&BJ05kZVyVy|xC OO|x>+<>@(:??/>5{yxFDdm 3^q5'=q6nib-$RB}}YGq=xK@;)^qbha79g . pUʹ;bbmc[$c'a}5KKfH5HL!ݦ&|mK{N6M6hq v|y 58+zH  *~ HHy\K*t@G>{sA}"))y sGfۡqǾ'w E1 [8>ܤ4Aбt׎~ls14_>,Ȭ7TT GqME=w-i>mo[oiBszbP:j5if F 9Pɉ* k\ A ;!N`.{I SցD p3˅5veU}AbvyA/g 氚 Z N+lR~aeԩj9&&CLgMʼn7a A0ƀHEA3~{q q1vƨl効9)>൜fN1N FIrdq8Y^:_73.|3 f%Jش?MOY s 3;} Rc0`d[鯠$ÿ - έhǴ"P 6T{TUٴ+9E28Y*MOt0O9Bݍqg7Ŕ9O)z?7#]u rBIHAאTpl>՟,SpT4@~BA%}'0+{eRF&rĪ#uu\{BHuM6`pG}N+!'_oN콶3a3dXZzCyCUɪ嶂ZZZ۱f,fAg-@`g v6V?Dhf6t=M&ʺ6ײ'݉#֚>d8s9xN=ڮjAv11;u2%M2oN1uo%տPK! ѐ'theme/theme/_rels/themeManager.xml.relsM 0wooӺ&݈Э5 6?$Q ,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JЊT8V"AȻHu}|$b{P8g/]QAsم(#L[PK-![Content_Types].xmlPK-!֧6 +_rels/.relsPK-!kytheme/theme/themeManager.xmlPK-!Ƶtheme/theme/theme1.xmlPK-! ѐ' theme/theme/_rels/themeManager.xml.relsPK] NN  ^0J^p v, .> Wt26Lg Z0S  ( $$&5L2]ZccPd|v8ܭHbJRZt$$+H78:HfVNwb*  v(&J-J66?HEH8LTY@Z^dtnzZ<ЛZ\vD"8(J Xn !!%9R_qt     !l,2$JJ/meM)@0(  B S  ?N4OCRUncertain002OCRUncertain003OCRUncertain004OCRUncertain005OCRUncertain006OCRUncertain007OCRUncertain008OCRUncertain009OCRUncertain010OCRUncertain011OCRUncertain012OCRUncertain013OCRUncertain014OCRUncertain015OCRUncertain016OCRUncertain017OCRUncertain018OCRUncertain019OCRUncertain020OCRUncertain021OCRUncertain022OCRUncertain023OCRUncertain024OCRUncertain025OCRUncertain026OCRUncertain027OCRUncertain028OCRUncertain029OCRUncertain030OCRUncertain031OCRUncertain032OCRUncertain033OCRUncertain034OCRUncertain035OCRUncertain036OCRUncertain037OCRUncertain038OCRUncertain039OCRUncertain040OCRUncertain041OCRUncertain042OCRUncertain043OCRUncertain044OCRUncertain045OCRUncertain046OCRUncertain047OCRUncertain048OCRUncertain049OCRUncertain050OCRUncertain051OCRUncertain052OCRUncertain053 IJLV[^cn?L^qZ}_*l%O  !"#$%&'()*+,-./0123 JKUZ\bkoAMdr[& `+m&O'+;+%1&1 33<<DDD ENE[EEEEE2F?FHHIJ=LLL[UfU^WmWYYggj!jz{||}~ߊQ^Qbȓ*-7Ԝĸθu (DK6CT[ v! !$%%%%%%%&&((q))))"5/577H9R9;;;<<<>? ?'?*?6?@@AACDFF[OgOOOPPCVOVXX b,b~~#-/124578:;FJKLO[e4,,j1p13V4>>>>E:GsV"WXEYW^_^Fg./;FO0M#9g 9 p DpFMcI$u$+H+++D-t----(.X4g4:7I79@::@@@AOAvAC2C?CZDDHHMMRRY/Z``ddFg./;FO  hq O9_ v%S,e(!cvvvBQK"v(sh#vqg*vYIAJ(i'T1Dv2>Dh P=^Ov$oWv7XvFdv9ieJ(i/ovW qvZ6gr$غIv!fyvXcv@.@.@..@...@ ....@ .....@ ......@ .......@ ........*p^`p56@CJEHOJQJo(-@l^`l. hh^h`OJQJo(-@l^`l.88^8`o(.^`o(- hh^h`OJQJo(- hh^h`OJQJo(- hh^h`OJQJo(- hh^h`OJQJo(- hh^h`OJQJo(-hh^h`o(-@x ^` .@x ^` ..@x0^`0...@x` 0^` `0....@ x8 ^ ` .....@ x8^` ......@ xp`^p``.......@ x`^``........@ x$^$`......... hh^h`OJQJo(- ^`5CJo(.66^6`o(..^`o(...::^:`o(.... ^`o( .....  ` ^ ``o( ......   ^ `o(....... n n ^n `o(........ oo^o`o(......... hh^h`OJQJo(- hh^h`OJQJo(- hh^h`OJQJo(- hh^h`OJQJo(-@x ^` .@x ^` ..@x0^`0...@x` 0^` `0....@ x8 ^ ` .....@ x8^` ......@ xp`^p``.......@ x`^``........@ x$^$`......... hh^h`OJQJo(- hh^h`OJQJo(-  ^ `o(.tt^t`o(..^`o(...pp^p`o(....   ^ `o( .....  ` ^ ``o( ...... xx^x`o(....... ^`o(........ ^`o(.........^`o(- hh^h`OJQJo(- hh^h`OJQJo(-YIAKK ,e2>D9ieZ6gr%qg*$oWfyW q7X=^OXcFdc/o(sh#O9_ 'T1DBQK"K IvP7S @h 8^8`OJQJo(7S @h 8^8`OJQJo(-7S @h h^h`OJQJo( Xr/1@L.NPP P PPdP UnknownG* Times New Roman5Symbol3. * ArialWTimesETTimes New Roman5. *aTahoma?= * Courier NewACambria Math"((Ef!;Q2!;Q2!4dee3HP $Pr2!xx-!" !"  / !!! $ &yt www.PHILka.RU|                       Oh+'0 ( H T ` lx0 ytNormalwww.PHILka.RU2Microsoft Office Word@@Կ@W@W2!;Q՜.+,0 hp  OLCVMe .    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./012456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\^_`abcdfghijklsRoot Entry FduData .D1Table3RWordDocument8SummaryInformation(]DocumentSummaryInformation8eCompObjy  F' Microsoft Office Word 97-2003 MSWordDocWord.Document.89q