14
,20<-
@? =2 7F?4:_? 064@1 4@?>FE2 -5
6=7F?4:@?2>:6?E@ 56= 2A2C2E@ 2 =2
>@52=:525 56 29@CC@ 6?6C8[E:4@
= 2A2C2E@ 2;FDE2 2FE@>VE:42>6?E6 =2D
D:8F:6?E6D E6>A6C2EFC2D
@>A2CE:>6?E@ 7C:8@C]7:4@
N
@>A2CE:>6?E@
56 4@?86=24:_?
N
0A6C.? 9. 3B;06Z; ,20<-
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F4E:_? 064@1 2A2C6K42
D6=644:@?25@ 4@? F? EC:V?8F=@
'2C2 24E:G2C=@ AF=D2C =2 E64=2MP
=27F?4:_? 2A2C646 6?>2C4252
2@.0A6C.? 9. 3B;06Z; ,20<-
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F4E:_? 064@1 2A2C6K42
D6=644:@?25@ 4@? F? EC:V?8F=@
'2C2 56D24E:G2C=2 AF=D2C =2
E64=2M P =2 7F?4:_? 56;2 56 6DE2C
6?>2C4252
,C.0.A6<;-
'2C2 =@D =2C8@D A6C]@5@D 56 2FD6?4:2
D6 AF656 4@?>FE2C 6= 2A2C2E@ 2= >@5@
56 29@CC@ 6?6C8[E:4@ M-2424:@?6DP
#2E6>A6C2EFC2 56= 4@>A2CE:>6?E@ 7C:f
8@C]7:4@ D6 4@?>FE2 2FE@>VE:42f >6?E6
2 N
HA2;06Z;
FC2?E6 6DE6 A6C]@5@ ?@ 5636CV? 8F2Cf
52CD6 2=:>6?E@D 6? 6= 4@>A2CE:f >6?E@
7C:8@C]7:4@
0A6C.? 9. 3B;06Z; ,C.0.A6<;-
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F?4:_? 0G242E:@?1 2A2C6K42
56DE24252 4@? F? EC:V?8F=@
'2C2 24E:G2C=@ AF=D2C =2 E64=2MP
=27F?4:_? 2A2C646 6?>2C4252
2@.0A6C.? 9. 3B;06Z;
,C.0.A6<;-
*6=644:@?2C =2 7F?4:_? 0G242E:@?1
92DE2 BF6 2A2C6K42 6= EC:V?8F=@
6?A2?E2==2
'2C2 56D24E:G2C=2 AF=D2C =2 E64=2
M P =2 7F?4:_? 56;2 56 6DE2C
6?>2C4252
,09<08-
? =2 :?5:424:_? 9@C2C:2 D6 >F6DEC2 =2
9@C2 24EF2= $65:2?E6 =2 7F?4:_? 04=@4<1
D6 AF656 2;FDE2C =2 9@C2
7B@A.? 9. 5<?.
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F?4:_? 04=@4<1 2A2C6K42
56DE24252 4@? F? EC:V?8F=@
'2C2 24E:G2C=2 AF=D2C =2 E64=2MP
=27F?4:_? 2A2C646 6?>2C4252
;FDE2C =2 9@C2 24EF2= @ 56D6252
4@? 2JF52 56 =2D E64=2D MP @ M P
$6>@C:K2C =2 9@C2 2;FDE252
AF=D2?5@ =2 E64=2 M@AE:@?DP
1C2?A2;06.
@? =2 7F?4:_? 0E:>6C1 24E:G252 ?@ D6
>F6DEC2 6? A2?E2==2 =2 9@C2 24EF2=
,* <33-
$65:2?E6 6DE2 7F?4:_? D6 56D24E:G2
6=5:DA6?D25@C 56 9:6=@ J 28F2
HA2;06Z;
!?E6CCF>A:C =2 2=:>6?E24:_? 56 28F2 56=
723C:425@C 56 9:6=@ G2C:2D 9@C2D 2?E6D
56 DF 56D4@?6I:_?
-24:2C J =:>A:2C 6= 56A_D:E@ 56 =@D
4F3:E@D 56 9:6=@ @=@42C 6= 56A_D:E@
6?DF D:E:@ 'C6DE2C 2E6?4:_? 2 BF6 6=
56A_D:E@ 6?42;6 6? DF 32D6 56 2A@J@
0A6C.? 9. 3B;06Z; ,* <33-
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F4E:_? 0!. @771 2A2C6K42
D6=644:@?25@ 4@? F? EC:V?8F=@
'2C2 24E:G2C=@ AF=D2C =2 E64=2MP
=27F?4:_? 2A2C646 6?>2C4252
2@.0A6C.? 9. 3B;06Z; ,* <33-
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F4E:_? 0!. @771 2A2C6K42
D6=644:@?25@ 4@? F? EC:V?8F=@
'2C2 56D24E:G2C=2 AF=D2C =2
E64=2M P =2 7F?4:_? 56;2 56 6DE2C
6?>2C4252
,>B608 602-
@? 6DE2 7F?4:_? D6 AF656 246=6C2C
=2AC@5F44:_? 56 4F3:E@D
0A6C.? F 12@.0A6C.? 9. 3B;06Z;
'F=D2C =2 E64=2 MDFA6CBF:4< :46P
D_=@7F?4:@?2 D: 6? =2 A2?E2==2 56
G:DF2=:K24:_? ?@ 2A2C646?
D6=644:@?252D =2D :?5:424:@?6D 56 =@D
4@>A2CE:>6?E@D 56 4@?86=24:_?
7C:8@C]7:4@ J 42;_? 56 4@?D6CG24:_?
7C6D42
= 4@?64E2C =2 7F?4:_? 2A2C646 6? =2
A2?E2==2 56 G:DF2=:K24:_? =2 :?5:424:_?
0BF:4< :461
1C2?A2;06.
= 24E:G2C =2 7F?4:_? 0BF:4< :461
6=2A2C2E@ :?4C6>6?E2 E6>A@C2=>6?E6
DF C6?5:>:6?E@ DE@ :>A=:42 F?
2F>6?E@ 56= 4@?DF>@ 56 6?6C8]2
,369A2? 05.;42-
= 423@ 56 D6:D >6D6D 56 7F?4:@?2f
>:6?E@ 56= 2A2C2E@ =2 A2?E2==2 56
G:DF2=:K24:_? =6 :?7@C>2 2 EC2G[D 56
=2:?5:424:_? 07:=E6C 492?861 2>3:@
56 7:=EC@ BF6 5636 42>3:2C 6= 7:=EC@
5628F2
0A6C.? 9. 3B;06Z;
'2C2 24E:G2C =2 7F?4:_? 07:=E6C 492?861
EC2D C62=:K2C 6= 42>3:@ 56= 7:=EC@ 56 28F2
2>3:2C 6= 7:=EC@ 56 28F2 G[2D6
6=42A]EF=@ M:=EC@ 56 28F2P
'F=D2C =2 E64=2 M@AE:@?DP 92DE2 BF6
=2 7F?4:_? 07:=E6C 492?861 2A2C6K42
56DE24252 4@? F? EC:V?8F=@
'F=D2C =2D E64=2D M P @ MP
? 2= A2?E2==2 56 G:DF2=:K24:_?
56D2A2C646 =2 :?5:424:_? 07:=E6C
492?861
!<1< I&.//.AJ
;FDE6D 6? 6= >@5@ M*2332EP
#2 D6^2= 24cDE:42 56 2G:D@
D656D24E:G2
*6 A@?6 7:? 2 =2D 7F?4:@?6D M?7C:2f
>:6?E@ F=EC2CCVA:5@P J M@?86=24:_?
F=EC2CCVA:52P 6? 42D@ 56 6DEFG:6C2?
24E:G252D
!
#2 :?E6?D:525 56 =2 :=F>:?24:_? 56 =2
A2?E2==2 EV4E:= J =2D :?5:424:@?6D D6
C65F46 2 =2 :=F>:?24:_? 3VD:42
#2D E64=2D 56= 2A2C2E@ 6I46AE@
=2DE64=2D M@AE:@?DP J MP BF652?
3=@BF6252D
0A6C.? F 12@.0A6C.?
9.3B;06Z;
'F=D2C D:>F=E2?66 E6?E6 =2D E64=2D
M@AE:@?DP J MP 5FC2?E6 4:?4@ D68F?5@D
2@