PDF Download - Charlottenburger Baugenossenschaft eG

+)7' ,d* 87&)6 -',8
(MI 'LEVPSXXI
)MRI ,YRHIVXNnLVMKI QMX >YOYRJX

0%+)&)6-',8 92(
.%,6)7%&7',0977
'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
(VIWWIPWXVE I &IVPMR
8IP
*E\
QEMP$GLEVPSXXI FEY HI
[[[ GLEVPSXXI FEY HI
+IKV RHIX EQ *IFVYEV
-R HEW +IRSWWIRWGLEJXWVIKMWXIV
IMRKIXVEKIR EQ 1nV^
:SVWXERH
,ERW .SEGLMQ /SWYFIO
6YHSPJ 3VPSF
+EFVMIPI &SLPIFIV WXIPPZ
:SVWMX^IRHIV HIW %YJWMGLXWVEXW
. VKIR 7MIQYRH
`

-2,%087:)6>)-',2-7
(MI ¹'LEVPSXXIª EYJ IMRIR &PMGO
1MXKPMIHWGLEJXIR YRH &IXIMPMKYRKIR
0EKIFIVMGLX
+IWEQX[MVXWGLEJXPMGLI )RX[MGOPYRK
6ELQIRFIHMRKYRKIR HIV ;SLRYRKW[MVXWGLEJX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
;SLRYRKWFI[MVXWGLEJXYRK
-RWXERHLEPXYRK 1SHIVRMWMIVYRK
2IYFEYXnXMKOIMX
+IRSWWIRWGLEJXWEVFIMX
.ELVI 'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
:SVWXERH YRH 1MXEVFIMXIV
7S^MEPI YRH OYPXYVIPPI %RKIFSXI
7S^MEPFMPER^
(EVWXIPPYRK HIV 0EKI
:IVQ~KIRW YRH *MRER^PEKI
)VXVEKWPEKI
/ETMXEPJPYWWVIGLRYRK
'LERGIR YRH 6MWMOIR HIV ZSVEYWWMGLXPMGLIR )RX[MGOPYRK
:SVEYWWMGLXPMGLI )RX[MGOPYRK
+I[MRRZIV[IRHYRKWZSVWGLPEK
&IVMGLX HIW %YJWMGLXWVEXIW
&MPER^
+I[MRR YRH :IVPYWXVIGLRYRK
%RLERK
%PPKIQIMRI %RKEFIR
)VPnYXIVYRKIR ^Y HIR &MPER^MIVYRKW YRH &I[IVXYRKWQIXLSHIR
)VPnYXIVYRKIR ^YQ .ELVIWEFWGLPYWW
7SRWXMKI %RKEFIR
*SVHIVYRKW YRH :IVFMRHPMGLOIMXIRWTMIKIP
)RX[MGOPYRK HIW %RPEKIZIVQ~KIRW
-RJSVQEXMSRIR ^YQ .ELVIWEFWGLPYWW
0MWXI HIV ;SLRERPEKIR
0MWXI HIV KI[nLPXIR :IVXVIXIV REGL ;ELPFI^MVOIR
'LEVPSXXI8VIJJW
+IWGLIROYVOYRHI
-QTVIWWYQ
7IMXI
`

`
(MI ¹'LEVPSXXI© EYJ IMRIR &PMGO
1MXKPMIHWGLEJXIR YRH &IXIMPMKYRKIR
(MI ¹'LEVPSXXI© EYJ IMRIR &PMGO
&MPER^WYQQI MR 1MS
1MIXIMRLIMXIR ;SLRYRKIR 0nHIR YW[
1MXKPMIHIV
+IW GLnJXWKYXLE FIR MR 1MS
6 GOPE KIR MR 1MS
9QW nX^I EYW HIV ,E YWFI[MVXWGLEJXYRK MR 1MS
&EY YRH -RWXERHLEPXYRKWPIMWXYRKIR MR 1MS
&MPER^KI[MRR MR
&VYXXSHMZMHIRHI MR 4VS^IRX
1MXE VFIMXIV MQ (YVGLWGLRMXX
1MXKPMIHWGLEJXIR YRH &IXIMPMKYRKIR
(MI 'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+ MWX 1MXKPMIH FIM
:IVFERH &IVPMR &VERHIRFYVKMWGLIV ;SLRYRKWYRXIVRILQIR I : &&9
&IVPMR &VERHIRFYVKMWGLI %OEHIQMI HIV ;SLRYRKW YRH -QQSFMPMIR[MVXWGLEJX I : &&%
+H; &YRHIWZIVFERH HIYXWGLIV ;SLRYRKWYRXIVRILQIR I :
+IRSWWIRWGLEJXWJSVYQ I :
-RHYWXVMI YRH ,ERHIPWOEQQIV ^Y &IVPMR -,/
(IYXWGLI )RX[MGOPYRKWLMPJI J V WS^MEPIW ;SLRYRKW YRH 7MIHPYRKW[IWIR I : ()7;37
2 VRFIVKIV FIVFIXVMIFPMGLI :IVWSVKYRKWOEWWI I :
%VFIMXKIFIVZIVFERH HIV (IYXWGLIR -QQSFMPMIR[MVXWGLEJX I :
47:E+ 4)27-327 7-',)692+7 :)6)-2 :IVWMGLIVYRKWZIVIMR EYJ +IKIRWIMXMKOIMX
:IVIMR 'VIHMXVIJSVQ &IVPMR I :
:IVIMRMKYRK ;MVXWGLEJXWLSJ 7TERHEY I :
(MI 'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+ MWX +IWIPPWGLEJXIV HIV +Ji +IWIPPWGLEJX J V iJJIRXPMGLOIMXW
EVFIMX &IVPMR &VERHIRFYVKMWGLIV ;SLRYRKWYRXIVRILQIR QF, M 0

0EKIFIVMGLX
+IWEQX[MVXWGLEJXPMGLI )RX[MGOPYRK
6ELQIRFIHMRKYRKIR MR HIV ;SLRYRKW[MVXWGLEJX
+IWEQX[MVXWGLEJXPMGLI )RX[MGOPYRK
LEX WMGL HMI [MVXWGLEJXPMGLI )RX[MGOPYRK MR
(IYXWGLPERH YRH )YVSTE WXEFMPMWMIVX 8VSX^ 1ILV
[IVXWXIYIVIVL~LYRK ZSR EYJ 4VS^IRX YRH
WXEVO KIWXMIKIRIR )RIVKMITVIMWIR PEK HEW &VYXXS
WS^MEPTVSHYOX &-4 MR (IYXWGLPERH REGL IVWXIR
&IVIGLRYRKIR HIW 7XEXMWXMWGLIR &YRHIWEQXIW YQ
4VS^IRX L~LIV EPW MQ :SVNELV
(MI ;EGLWXYQWMQTYPWI OEQIR WS[SLP EYW HIQ
%YW EPW EYGL HIQ -RPERH (MI TVIMWFIVIMRMKXIR
)\TSVXI PEKIR MQ &IVMGLXWNELV QMX IMRIQ 4PYW ZSR
4VS^IRX HIYXPMGL FIV HIR -QTSVX^Y[nGLWIR
HMI YQ 4VS^IRX ^YRELQIR (EQMX WXIYIVXI
HIV )\TSVX FIVWGLYWW 4VS^IRXTYROXI ^YQ
&-4 ;EGLWXYQ FIM (IV ;EGLWXYQWFIMXVEK HIV MR
PnRHMWGLIR :IV[IRHYRK FIPMIJ WMGL EYJ IMRIR
4VS^IRXTYROX )V MWX MR IVWXIV 0MRMI EYJ HMI -RZIW
XMXMSRIR HIV 9RXIVRILQIR MR RIYI 1EWGLMRIR
%RPEKIR YRH *ELV^IYKI ^YV GO^YJ LVIR (MI
/SRWYQEYWKEFIR XVYKIR RYV QMX 4VS^IRX
TYROXIR ^YQ &-4 ;EGLWXYQ FIM 2IRRIRW[IVX
WMRH LMIV ZSV EPPIQ HMI /SRWYQEYWKEFIR HIW
7XEEXIW (MI TVMZEXIR /SRWYQEYWKEFIR WEROIR
KIKIR FIV HIQ :SVNELV KIVMRKJ KMK
2EGLHIQ HIV %F[nVXWXVIRH MQ &EY
KI[IVFI KIWXSTTX [EV LEFIR WMGL HMI ;MVX
WGLEJXWPIMWXYRKIR MR HMIWIQ &IVIMGL IVRIYX
EFKIWGL[nGLX 7MI PEKIR RYV ^[IM 4VS^IRX
FIV HIQ :SVNELV
&YRH 0nRHIV YRH +IQIMRHIR [MIWIR J V
REGL ZSVPnYJMKIR &IVIGLRYRKIR IMRIR EYWKIKPM
GLIRIR *MRER^WEPHS EYW (EHYVGL [MVH IW IVJVIY
PMGLIV[IMWI ^Y OIMRIV )VL~LYRK HIV *VIQHZIV
WGLYPHYRK OSQQIR
(MI %VFIMXWPSWMKOIMX FIXVYK MR (IYXWGLPERH EQ
)RHI HIW +IWGLnJXWNELVIW 4VS^IRX -R &IVPMR
WERO HMI %VFIMXWPSWIRUYSXI TIV EYJ
4VS^IRX :SVNELV 4VS^IRX
8VSX^ HIV *MRER^OVMWI MR HIR 97% MQ &IVIMGL HIV
-QQSFMPMIRJMRER^MIVYRK YRH [IMXIV KIWXMIKIRIR
)RIVKMIOSWXIR TVSKRSWXM^MIVIR QILVIVI ;MVX
WGLEJXWMRWXMXYXI YRH HMI &YRHIWVIKMIVYRK J V
IMR WXEFMPIW ´ [IRR EYGL PIMGLX EFKI
WGL[nGLXIW ´ ;MVXWGLEJXW[EGLWXYQ
6ELQIRFIHMRKYRKIR MR HIV
;SLRYRKW[MVXWGLEJX
(MI 6ELQIRFIHMRKYRKIR LEFIR WMGL EYGL
[IRMK ZIVnRHIVX (MI &IVPMRIV ;SLRYRKW
YRXIVRILQIR LEXXIR WMGL [IMXIV QMX LSLIV
*PYOXYEXMSR IVLIFPMGLIR %RKIFSXW FIVLnRKIR
YRH ´ HEVEYW JSPKIRH ´ 0IIVWXnRHIR EYWIMRERHIV
^YWIX^IR 7XEKRMIVIRHI )VXVnKI FIM HIV :IVQMI
XYRK ZSR ;SLR YRH +I[IVFIVnYQIR WS[MI HMI
^YQ )VPMIKIR KIOSQQIRI ;SLRYRKWFEYJ~VHI
VYRK ZIVWGLnVJXIR HMI 7MXYEXMSR
(MI *MRER^OVMWI MR HIR 97% LIVZSVKIVYJIR HYVGL
VMWOERXI *MRER^MIVYRKIR MQ -QQSFMPMIRFIVIMGL
LEX WMGL FIM HIV *MRER^MIVYRK ZSR -RZIWXMXMSRIR
HIYXWGLIV -QQSFMPMIRYRXIVRILQIR QMX EYWVIM
GLIRHIV &SRMXnX FMWLIV RSGL RMGLX FIQIVOFEV KI
QEGLX (IRRSGL [EVIR SJJIRFEV EYGL HIYXWGLI
&EROIR FIV *SRHW ER HIV *MRER^MIVYRK VMWMOSVIM
GLIV /VIHMXI MR HIR 97% FIXIMPMKX YRH WILIR NIX^X
KV~ IVIR %FWGLVIMFYRKWFIHEVJ
(IV :IVOEYJ ZSR KV~ IVIR ;SLRYRKWFIWXnRHIR
ER MRXIVREXMSREP EKMIVIRHI -RZIWXSVIR YRH
-QQSFMPMIRLnRHPIV MWX MR &IVPMR V GOPnYJMK .IHSGL
LEFIR HMI ^YV GOPMIKIRHIR :IVOnYJI HIR &IVPMRIV
+VYRHWX GOWQEVOX FIPIFX YRH ^Y WXIMKIRHIR
4VIMWIR KIJ LVX (MI %YW[MVOYRK EYJ HMI 1MIXIR
FPIMFX EF^Y[EVXIR
`

`
0EKIFIVMGLX
6ELQIRFIHMRKYRKIR MR HIV ;SLRYRKW[MVXWGLEJX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
(IQSKVEJMWGLI )VLIFYRKIR WEKIR J V HMI RnGLWXIR
.ELV^ILRXI IMRIR WXEVO WXIMKIRHIR %RXIMP nPXIVIV
1IRWGLIR MR (IYXWGLPERH ZSVEYW (MIWIV *EOX HMI
LSLI %VFIMXWPSWMKOIMX WS[MI ZMIPI ERHIVI WS^MEPI
4VSFPIQI JSVHIVR ZSR HIV ;SLRYRKW[MVXWGLEJX
ZIVWXnVOXIW WS^MEPIW 1EREKIQIRX ^YQEP WMGL HIV
7XEEX [IKIR +IPHQERKIPW MQQIV QILV EYW HIR WS
^MEPIR &IVIMGLIR ^YV GO^MILX
%Q MWX HMI 2SZIPPI HIW +IRSWWIR
WGLEJXWKIWIX^IW ^IMXKPIMGL QMX HIR %YWJ LVYRKW
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
;SLRYRKWFI[MVXWGLEJXYRK
(MI +IRSWWIRWGLEJX FI[MVXWGLEJXIXI EQ
&IWXERHWZIVnRHIVYRKIR
+IKIR FIV HIQ :SVNELV KEF IW RYV KIVMRKJ KMKI
:IVnRHIVYRKIR MQ &IWXERH -R 7XIKPMX^ VIHY^MIVXI
WMGL HMI ;SLRYRKWER^ELP HYVGL >YWEQQIR
PIKYRKIR YQ HVIM ;SLRYRKIR -R 7MIQIRWWXEHX
[ERHIPXIR [MV EYJ ;YRWGL IMRI ;SLRYRK MR IMR
FIWXMQQYRKIR ^YV )YVSTnMWGLIR +IRSWWIRWGLEJX
MR /VEJX KIXVIXIR -RWKIWEQX FIMRLEPXIX HMI
2SZIPPI QIMWX VIHEOXMSRIPPI YRH WTVEGLPMGLI
EFIV EYGL QEXIVMIPPI dRHIVYRKIR /YV^ REGL HIV
&IOERRXQEGLYRK QYWWXI HEW +IRSWWIRWGLEJXW
KIWIX^ MR HIV 2IYJEWWYRK IVRIYX KInRHIVX [IV
HIR 9VWEGLI LMIVJ V MWX HEW +IWIX^ FIV IPIOXVS
RMWGLI ,ERHIPWVIKMWXIV YRH +IRSWWIRWGLEJXW
VIKMWXIV WS[MI HEW 9RXIVRILQIRWVIKMWXIV ZSQ
;SLRYRKIR QMX Q ;SLRJPnGLI
0nHIR YRH KI[IVFPMGLI 3FNIOXI QMX Q 2YX^JPnGLI
+EVEKIR 7XIPPTPnX^I QMX Q 2YX^JPnGLI
ZIVQMIXIXI /IPPIV YRH ERHIVI 6nYQI QMX Q 2YX^JPnGLI
1MIXIVKnVXIR QMX Q 2YX^JPnGLI
ZIVQMIXIXI 3FNIOXI QMX Q ZIVQMIXIXI *PnGLI
+I[IVFISFNIOX YQ -R 6IMRMGOIRHSVJ LEFIR [MV
EGLX ;SLRIMRLIMXIR MR ^ILR ;SLRYRKIR J V YR
WIV 4VSNIOX Ç+IQIMRWGLEJXPMGLIW ;SLRIR YQKI
WXEPXIX (EW ILIQEPMKI &EYF VS MR 6IMRMGOIRHSVJ
HEW [MV [nLVIRH HIV 7ERMIVYRK FIR~XMKXIR
OSRRXIR [MV [MIHIV EPW ;SLRYRK ZIVQMIXIR

*PYOXYEXMSR
[YVHIR 2YX^YRKWZIVXVnKI :SVNELV
KIO RHMKX HEZSR
[IKIR 8SH HIW 1MXKPMIHW
SLRI ,MRXIVFPMIFIRIRZIVWSVKYRK
[IKIR ;SLRYRKW[IGLWIPW
MRRIVLEPF HIV +IRSWWIRWGLEJX
[IKIR 6nYQYRK REGL IMRIV ZSR
YRW EYWKIWTVSGLIRIR / RHMKYRK EYJKVYRH
>ELPYRKWZIV^YKW F^[ REGL >[ERKWVnYQYRK
HYVGL HIR +IVMGLXWZSPP^MILIV
+IRSWWIRWGLEJX
[IKIR ;IK^YKW EYW HIV
2MGLX EPPI 1MXKPMIHIV LEFIR YRWIVIR *VEKIFSKIR
^Y HIR / RHMKYRKWKV RHIR ^YV GOKIWGLMGOX %YW
HIR ZSVPMIKIRHIR %RX[SVXIR MWX NIHSGL IVOIRR
FEV HEWW HMI / RHMKYRKWKV RHI QIMWX MR HIV
:IVnRHIVYRK HIV 0IFIRWYQWXnRHI PMIKIR [MI
%VFIMXWTPEX^[IGLWIP dRHIVYRK HIV ,EYWLEPXW
KV~ I YRH 9Q^YK MR 7IRMSVIRLIMQI YRH 4JPIKI
IMRVMGLXYRKIR
0IIVWXERHWIRX[MGOPYRK
*PYOXYEXMSR NI ;SLRFI^MVO
7TERHEY
7MIQIRWWXEHX
'LEVPSXXIRFYVK 2SVH
'LEVPSXXIRFYVK
;MPQIVWHSVJ
7XIKPMX^
6IMRMGOIRHSVJ
;IM IRWII
(MI *PYOXYEXMSR MWX QMX HYVGLWGLRMXXPMGL 4VS^IRX
KIKIR FIV HIQ :SVNELV 4VS^IRX
[MIHIV PIMGLX KIWXMIKIR -R 7XIKPMX^ YRH 'LEVPSX´
XIRFYVK MWX WMI ERKIWMGLXW HIV ZMIPIR /PIMR[SL´
RYRKIR ´ [MI MR HIR :SVNELVIR ´ L~LIV EPW MR HIR
ERHIVIR &I^MVOIR WMILI +VEJMO
;MV OSRRXIR HIR
0IIVWXERH [IMXIV
WIROIR YRH KIKIR
FIV YQ
;SLRYRKIR
VIHY^MIVIR
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
4IV [EVIR RYV ;SLRYRKIR
4VS^IRX YRZIVQMIXIX :SVNELV !
4VS^IRX >MILX QER HMI ;SLRYRKIR EF HMI [I
KIR 1SHIVRMWMIVYRK RMGLX ZIVQMIXIX [IVHIR
OSRRXIR FIXVnKX HIV 0IIVWXERH WSKEV RYV
;SLRYRKIR 4VS^IRX -Q :SVNELV [EVIR IW
;SLRYRKIR 4VS^IRX
0IIVWXERH NI &I^MVO TIV MR 4VS^IRX
:IVQMIXYRKWFIHMRKXIV 0IIVWXERH
0IIVWXERH [IKIR 1SH -RWX
;MIHIVZIVQMIXYRK
OSRRXIR [MV ZSR HIR ^YV :IVJ KYRK
WXILIRHIR ;SLRYRKIR :SVNELV ZIV
QMIXIR HEZSR ;SLRYRKIR :SVNELV HM
VIOX MQ %RWGLPYWW ER HIR :SVQMIXIVZIVXVEK
*VIM [IVHIRHI ;SLRYRKIR FMIXIR [MV FIV YRWI
VI %YWLnRKI ER >YWnX^PMGL ZIV~JJIRXPMGLIR [MV HMI
%RKIFSXI ^IMXREL MQ -RXIVRIX YRH [IVHIR IVJSPK
VIMGL ZSR IMRIQ 1EOPIV YRXIVWX X^X -R 7TERHEY
,EOIRJIPHI ´ QMX IMRIV LSLIR *PYOXYEXMSR MR HIR
/PIMR[SLRYRKIR ´ OSRRXIR [MV HYVGL ^IMXPMGL
FIKVIR^XI 1MIXREGLPnWWI J V %YW^YFMPHIRHI 7XY
HIRXIR >MZMPHMIRWXPIMWXIRHI YRH 7GL PIV NYRKI
1MXKPMIHIV KI[MRRIR YRH JVIMI ;SLRYRKIR OYV^
JVMWXMK [IMXIVZIVQMIXIR
+I[IVFIZIVQMIXYRK
(MI 7MXYEXMSR LEX WMGL LMIV HIYXPMGL ZIVFIWWIVX
*PYOXYEXMSR YRH 0IIVWXERH [EVIR KIVMRK
:SR HIR +I[IVFIIMRLIMXIR [EVIR RYV ^[IM ´
IMRI MR 7MIQIRWWXEHX YRH IMRI MR 7TERHEY
,EOIRJIPHI ´ EQ RMGLX ZIVQMIXIX
(MIW IRXWTVMGLX IMRIV 5YSXI ZSR 4VS^IRX
* V HEW 3FNIOX MR 7TERHEY ,EOIRJIPHI WXILIR [MV
WIMX .ERYEV MR :IVXVEKWZIVLERHPYRKIR YRH
KILIR ZSR IMRIV IVJSPKVIMGLIR :IVQMIXYRK EYW
)RX[MGOPYRK HIV 2YX^YRKWKIF LV YRH HIV
&IXVMIFWOSWXIRYQPEKI
>YQ FIXVYK HMI HYVGLWGLRMXXPMGLI
2YX^YRKWKIF LV RIXXS OEPX MR YRWIVIV +IRSWWIR
WGLEJX NI Q ;SLRJPnGLI QSREXPMGL
:SVNELV
(MI )VL~LYRK IRXWXERH MQ ;IWIRXPMGLIR HYVGL
HMI %RLIFYRK HIV 2YX^YRKWKIF LVIR FIM 2YX
^IV[IGLWIP MR JVIM JMRER^MIVXIR ;SLRYRKIR WS[MI
HYVGL 1SHIVRMWMIVYRKW^YWGLPnKI MR HIV ;SLR
LEYWKVYTTI 1IPPIV &SKIR
(MI 9QPEKIRZSVWGL WWI J V HMI [EVQIR &IXVMIFW
OSWXIR ,IM^YRK YRH ;EVQ[EWWIV LEFIR [MV MR
)MR^IPJnPPIR MRHMZMHYIPP ERKITEWWX (MI :SVEYW
^ELPYRKIR J V HMI OEPXIR &IXVMIFWOSWXIR QYWWXIR
[MV REGL jFIVTV JYRK EPPIV ;SLRLEYWKVYTTIR
IVL~LIR

-RWXERHLEPXYRK YRH 1SHIVRMWMIVYRK
(IV +IWEQXEYJ[ERH J V 1SHIVRMWMIVYRKIR
-RWXERHWIX^YRKIR YRH ;SLRYQJIPHZIVFIWWIVYR
KIR FIXVYK MQ PIX^XIR .ELV 8 ,MIVZSR
IRXJMIPIR 8 EYJ HMI PEYJIRHI YRH
8 EYJ HMI KVS I -RWXERHWIX^YRK %OXM
ZMIVX YRH WSQMX HIQ %RPEKIZIVQ~KIR KYXKI
WGLVMIFIR [YVHIR 8 WMILI 7IMXI
8EFIPPI %OXMZMIVXI &EYQE RELQIR %YJ &EYZSV
FIVIMXYRKWOSWXIR KITPERXIV +IRIVEPQSHIVRMWMI
VYRKIR IRXJMIPIR 8
1IPPIV &SKIR ;,+
(IV %YJ[ERH J V 1SHIVRMWMIVYRK YRH -RWXERH
WIX^YRK FIM 2YX^IV[IGLWIP OSRRXI IVJVIYPMGLIV
[IMWI RSGLQEPW KIWIROX [IVHIR YRH ^[EV EYJ
8 -R QYWWXIR RYV IX[E
4VS^IRX 4VS^IRX HIV ;SLRYRKIR YQ
JEWWIRH WERMIVX [IVHIR (MIW PMIKX ER HIR ZMIPIR
)MR^IPQSHIVRMWMIVYRKIR HIV PIX^XIR .ELVI FIWSR
HIVW EFIV ER HIV +IRIVEPWERMIVYRK HIV ;SLR
LEYWKVYTTIR )MWIVJIPHIV 6MRK WS[MI
YRH 1IPPIV &SKIR
(IV %YJ[ERH J V HMI KIWEQXI &EYQE RELQI
MROPYWMZI HIV /SWXIR FIXVYK
8 %YJ IRXJMIPIR 8 J V HMI
;,+
(MI LSLIR /SWXIR J V HMI +IRIVEPWERMIVYRKIR
[YVHIR ´ [MI MR HIR ZIVKERKIRIR .ELVIR ´ RMGLX
RYV EYW HIR )MRRELQIR HIV 2YX^YRKWKIF LVIR KI
HIGOX WSRHIVR EYGL HYVGL ^YWnX^PMGLI /ETMXEP
EYJRELQI JMRER^MIVX
-R IMRIV IVWXIR %REP]WI J V HMI ;SLRLEYWKVYTTI
[YVHIR HMI ZSVLIVKIWEKXIR )RIVKMIIMRWTE
VYRKIR ZSR 4VS^IRX RELI^Y FIWXnXMKX &IM HIV
%YW[IVXYRK HIV 7XVSQVIGLRYRKIR ZSR J RJ ;SL
RYRKWRYX^IVR LEFIR [MV JIWXKIWXIPPX HEWW HYVGL
HIR ;IKJEPP HIV )PIOXVSHYVGLPEYJIVLMX^IV HMI )MR
WTEVYRKIR WSKEV FIV HIR TVSKRSWXM^MIVXIR ;IV
XIR PMIKIR
-Q 6ELQIR YRWIVIW 4MPSXTVSNIOXIW Ç+IQIMR
WGLEJXPMGLIW ;SLRIR MR HIV +IRSWWIRWGLEJX LEFIR
[MV MQ )VHKIWGLSWW HIW %YJKERKIW 1IPPIV &SKIR
RIYI >MQQIV %TTEVXIQIRXW KIWGLEJJIR
(MIWI [EVIR YQKILIRH ZIVQMIXIX (IV +IQIMR
WGLEJXWVEYQ HMI KIQIMRWEQI / GLI YRH HIV
0IWIKEVXIR [IVHIR ZSR HIR &I[SLRIVR VIKI KI
RYX^X YRH XVEKIR WS ^Y IMRIV KYXIR 2EGLFEVWGLEJX
WS[MI HIQ KIRSWWIRWGLEJXPMGLIR >YWEQQIRPI
FIR FIM
1MX IMRIQ KVS IR *IWX JIMIVXIR [MV EQ
LMIV HIR %FWGLPYWW HIV +IRIVEPWERMIVYRK HIW
1IPPIV &SKIRW
&EYEFWGLPYWWJIWX 1IPPIV &SKIR
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
-R YRWIVIV ;SLRLEYWKVYTTI MR 7TERHEY LEFIR
[MV ´ MR %FWXMQQYRK QMX HIQ 0ERHIWOSRWIVZE
XSV ´ HMI LSJWIMXMKIR *EWWEHIR HIV ,nYWIV 7XVIMX
WXVE I E FMW KIHnQQX YRH ER NIHI ;SL
RYRK IMRIR &EPOSR ERKIFEYX (EV FIV LMREYW LE
FIR 8MWGLPIV YRH 1EPIV WnQXPMGLI *IRWXIV HMIWIV
;SLRYRKIR FIVEVFIMXIX (MI WXVE IRWIMXMKIR
;SLRVEYQJIRWXIV PMI IR [MV QMX 7GLPEYGLHMGL
XYRKIR WGLEPPXIGLRMWGL ZIVFIWWIVR (MI /SWXIR J V
HMI +IWEQXQE RELQI FIXVYKIR 8
&EPOSRERFEY ;,+
-R YRWIVIV ;,+ +VEJIR[EPHIV ;IK ;IK
WGLIMHIV 7XVE I MWX HIV IVWXI &EYEFWGLRMXX ^YV
>IRXVEPMWMIVYRK ZSR ,IM^YRK YRH ;EVQ[EWWIV
EYJFIVIMXYRK FIIRHIX
-R 7XIKPMX^ LEFIR [MV HIR PIX^XIR %FWGLRMXX HIV
,SJJEWWEHIRWERMIVYRK HIV ,nYWIV 0EYIRFYVKIV
7XVE I &IVKWXVE I YRH 0IWWMRKWXVE I SJJIRIV
&PSGO EFKIWGLPSWWIR ;MV LEFIR LMIV EYGL HMI
4EVOTPnX^I YQKIFEYX YRH HMI +V RERPEKIR ´
REGL HIV %FHMGLXYRK HIV /IPPIVEY IR[nRHI ´
RIY ERKIPIKX
-Q -RRIRLSJ /SPPEX^WXVE I 0IVWGLTJEH YRH MQ
)RKIPQERR[IK LEFIR [MV HMI *EWWEHIR MRWXERH
WIX^IR PEWWIR ,MIV [EV IMRI ;nVQIHnQQYRK [I
KIR (IROQEPWGLYX^IW RMGLX Q~KPMGL
%Y IVHIQ [YVHIR MR HMZIVWIR ;SLRLEYWKVYT
TIR HMI %Y IRJIRWXIV XMWGLPIV YRH QEPIVQn MK
EYJKIEVFIMXIX YRH HMI 8VITTIRLnYWIV WERMIVX
+ITPERXI -RWXERHLEPXYRKW YRH 1SHIVRMWMIVYRKW
EVFIMXIR J V
LEFIR [MV VYRH 1MS J V -RWXERH
LEPXYRKW YRH 1SHIVRMWMIVYRKWEVFIMXIR IMRKI
TPERX (EZSR [IVHIR [MV
1MS J V HMI PEYJIRHI YRH KVS I
-RWXERHWIX^YRK
1MS J V HMI ;SLRYRKWQSHIVRMWMIVYRK
FIM 2YX^IV[IGLWIP
1MS J V HMI [IMXIVI >IRXVEPMWMIVYRK HIV
,IM^YRKWERPEKIR MR HIV 7TERHEYIV ;,+
YRH
IMRWIX^IR
6IRSZMIVXI 8VITTIRLnYWIV
%PPI LSJWIMXMKIR *EWWEHIR HIW KIWGLPSWWIRIR ;SLR
FPSGOIW MR 7XIKPMX^ &IVKWXVE I 0IWWMRKWXVE I
;YXLIRS[WXVE I *MPERHEWXVE I [IVHIR [MV HnQ
QIR YQ EYGL LMIV HIV )RIVKMIIMRWTEVZIVSVHRYRK KI
VIGLX ^Y [IVHIR -Q >YKI HMIWIV %VFIMXIR PEWWIR [MV
WnQXPMGLI &EPOSRI WERMIVIR HMI /IPPIVEY IRQEYIVR
MWSPMIVIR YRH HIR ,SJ RIY KIWXEPXIR

;,+ ,SJJEWWEHI
2EGL LIJXMKIR (MWOYWWMSRIR QMX HIQ 0ERHIWOSR
WIVZEXSV OERR HMI FIVIMXW J V KITPERXI
+IRIVEPWERMIVYRK YRWIVIV ;,+ ,IGOIV
HEQQ ´ 'LEVPSXXIRFYVK 2SVH
IRHPMGL FIKMRRIR ;IKIR HIW %VIEPWGLYX^IW J V
HEW +IFMIX 'LEVPSXXIRFYVK 2SVH H VJIR HMI
&EPOSRWIMXIR QMX HIR KVS IR ,SJJQERR¹WGLIR
*IRWXIVIPIQIRXIR RYV MRWXERH KIWIX^X YRH OIMRI
HEW &MPH ZIVnRHIVRHIR 1E RELQIR HYVGLKIJ LVX
[IVHIR (IWLEPF O~RRIR [MV HMI ,nYWIV RYV ER HIR
+MIFIP YRH )MRKERKWWIMXIR [nVQIHnQQIR
1MX IMRIQ %YJ[ERH ZSR 1MS [IVHIR [MV
HMI HVIM ;,+
,EPIQ[IK
,EPIQ[IK
,IGOIVHEQQ G YRH ,IGOIV
HEQQ G
KIRIVEPWERMIVIR H L EREPSK HIV FMWLIVMKIR
+IRIVEPWERMIVYRK PEWWIR [MV
HMI &I YRH )RX[nWWIVYRKWPIMXYRKIR IVRIYIVR
XIMP[IMWI IMRI ^IRXVEPI ;EVQ[EWWIVZIVWSV
KYRK IMRFEYIR
HMI IPIOXVMWGLIR %RPEKIR MR / GLI &EH YRH
*PYV QSHIVRMWMIVIR
8IMPJPnGLIR HIV *EWWEHIR YRH HMI (nGLIV
[nVQIHnQQIR
EPPI *IRWXIV FMW EYJ HMI &EHI^MQQIVJIRWXIV
;,+ IVRIYIVR
(MI -RWXEPPEXMSR ZSR 7SPEVERPEKIR ´ [MI MQ 1IPPIV
&SKIR ´ LEFIR [MV IMRKILIRH KITV JX 0IMHIV MWX
WMI [IHIV J V HEW 9RXIVRILQIR [MVXWGLEJXPMGL
WMRRZSPP RSGL J V HEW IMR^IPRI 1MXKPMIH (MI -HII
[YVHI HIWLEPF [MIHIV ZIV[SVJIR
2IYFEYXnXMKOIMX
9RWIVI +IRSWWIRWGLEJX J LVX ^YV^IMX [IHIV 2IY
FEYTVSNIOXI HYVGL RSGL TPERX WMI HMIWI +VYRH WMRH
HIV HIYXPMGL IRXWTERRXI ;SLRYRKWQEVOX MR
&IVPMR HEW WXEKRMIVIRHI &IZ~POIVYRKW[EGLWXYQ
YRH HMI 8EXWEGLI HEWW WMGL QMXXIPJVMWXMK HEVER
RMGLXW nRHIVR [MVH
+IRSWWIRWGLEJXWEVFIMX
:IVXVIXIVZIVWEQQPYRK
9RWIVI SVHIRXPMGLI :IVXVIXIVZIVWEQQPYRK XVEX
EQ MQ ,SXIP ,SPMHE] -RR &IVPMR ^YWEQ
QIR YRH EFWSPZMIVXI REGL HIR &IVMGLXIR HIW
:SVWXERHIW YRH HIW %YJWMGLXWVEXIW EPPI IVJSVHIVPM
GLIR 6IKYPEVMIR %R[IWIRH [EVIR ZSR
:IVXVIXIVR HEW IRXWTVMGLX IMRIV &IXIMPMKYRK ZSR
4VS^IRX (MI :IVXVIXIVZIVWEQQPYRK KIRIL
QMKXI HIR .ELVIWEFWGLPYWW HMI ZSVKIWGLPE
KIRI +I[MRRZIVXIMPYRK YRH HMI %YWWGL XXYRK IM
RIV &VYXXS (MZMHIRHI ZSR 4VS^IRX EYJ HMI EQ
&IKMRR HIW +IWGLnJXWNELVIW IMRKI^ELPXIR
+IWGLnJXWKYXLEFIR
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
-RWXERHWIX^YRK +VYRHWX GOI YRH KVYRHWX GOWKPIMGLI 6IGLXI QMX ;SLRFE YXIR %RPE KIR MQ &EY &EYZSVFIVIMXYRK YRH
1SHIVRMWMIVYRK MQ .ELV
0EYJIRHI -RWXERHLEPXYRK YRH KVS I -RWXERHWIX^YRK
/SWXIR HIV + IQIMRWGLEJXWERPEKIR
,IM^YRKWERPEKIR
%YJ^YKWERPEKIR
+nVXIR 7TMIP YRH 1 PPTPnX^I
;EWGLIMRVMGLXYRKIR
+EVEKIR YRH )MRWXIPPTPnX^I
+IWEQX / SW XIR HIV +IQIMRWGLEJXWERPEKIR
7GL~RLIMXWVITEVEXYVIR
+VEJMXXMFIWIMXMKYRK
9QFEYXIR YRH )MR^IPQE RELQIR
+IWEQX 7GL~RLIMXWVITEVEXYVIR +VEJMXXMFIWIMXMKYRK Y 9QFEYXIR YRH )MR^IPQE RELQIR
%OXMZMIVXI &EYQE RELQIR
;,+ REGLXVnKPMGL ;SLRYRKW^YWEQQIRPIKYRKIR
;,+ &EPOSRI :SPP[nVQIWGLYX^
;,+ +IWEQXQE RELQI
;,+ REGLXVnKPMGL +IWEQXQE RELQI >YWGLYWW ´
;,+ 'LEVPSXXI8VIJJ
;,+ ;SLRYRKW^YWEQQIRPIKYRKIR
;,+ :SPP[nVQIWGLYX^
;,+ REGLXVnKPMGL +IWEQXQE RELQI >YWGLYWW ´
;,+ +IWEQXQE RELQI
+IWEQX %OXMZMIVXI &EYQE RELQIR
%RPEKIR MQ &EY YRH &E YZSVFIVIMXYRKW OSWXIR
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI
+IWEQX %RPE KIR MQ &EY YRH &EYZSVFIVIMXYRKWOSWXIR
>[MWGLIRWYQQI
)MKIRPIMWXYRKIR
4IVWSREP YRH :IV[EPXYRKWOSWXIR J V -RWXERHWIX^YRK YRH -RWXERHLEPXYRK
+IWEQXWYQQI
MR MR
(MI %YJ[IRHYRKIR J V -RWXERHWIX^YRK +VYRHWX GOI YRH KVYRHWX GOWKPIMGLI 6IGLXI QMX ;SLRFEYXIR %RPEKIR MQ &EY
&EYZSVFIVIMXYRK YRH 1SHIVRMWMIVYRK FIXVEKIR 4VS^IRX HIV )MRRELQIR 1MIXIR Y n HIW .ELVIW

(EW XYVRYWKIQn EYWWGLIMHIRHI %YJWMGLXWVEXW
QMXKPMIH ,IVV 4IXIV ,YRHWH~VJIV OERHMHMIVXI RMGLX
[MIHIV %PW (ERO J V WIMRI PERKNnLVMKI IVJSPKVIMGLI
8nXMKOIMX IVLMIPX IV HMI )LVIRREHIP HIW :IVFERHIW
&IVPMR &VERHIRFYVKMWGLIV ;SLRYRKWYRXIVRILQIR
MR 7MPFIV
:IVPIMLYRK HIV )LVIRREHIP
&IM HIV )VKnR^YRKW[ELP ^YQ %YJWMGLXWVEX [YVHIR
HMI XYVRYWKIQn EYWWGLIMHIRHIR %YJWMGLXWVEXW
QMXKPMIHIV ,IVV -RKS (VIGLWPIV YRH ,IVV ,IVFIVX
>ERHIV [MIHIV KI[nLPX * V ,IVVR 4IXIV
,YRHWH~VJIV [YVHI *VEY &VMXXE 7GLQMKSX^OM RIY MR
HIR %YJWMGLXWVEX KI[nLPX
:IVXVIXIV[ELPIR
-Q &IVMGLXWNELV JERHIR HMI ;ELPIR ^YV :IVXVIXIV
ZIVWEQQPYRK WXEXX %Q LEX HIV
;ELPZSVWXERH MR WIMRIV 7MX^YRK HEW IRHK PXMKI
)VKIFRMW JIWXKIWXIPPX %PPI 1MXKPMIHIV [YVHIR FIV
%FPEYJ YRH )VKIFRMW HIV ;ELP WGLVMJXPMGL YRXIV
VMGLXIX
%YJWMGLXWVEX
%YGL LEX HIV %YJWMGLXWVEX WIMRI WEX^YRKW
KIQn I %YJKEFI HIR :SVWXERH MR WIMRIV
+IWGLnJXWJ LVYRK ^Y J~VHIVR ^Y FIVEXIR YRH ^Y
FIV[EGLIR [ELVKIRSQQIR (MI >YWEQQIR
EVFIMX ZSR %YJWMGLXWVEX YRH :SVWXERH [EV ZIVXVEY
IRWZSPP WEGLFI^SKIR YRH EYJ HEW ;SLP HIV
+IRSWWIRWGLEJX YRH MLVIV 1MXKPMIHIV KIVMGLXIX
(IV %YJWMGLXWVEX F^[ WIMRI %YWWGL WWI LMIPXIR MQ
+IWGLnJXWNELV IPJ 7MX^YRKIR YRH IMRI /PEYWYV
XEKYRK QMX HIQ :SVWXERH WS[MI ^[IM 7MX^YRKIR
SLRI :SVWXERH EF ;IMXIV RELQIR %YJWMGLXWVEXW
QMXKPMIHIV ER :IVXVIXIVFIWTVIGLYRKIR /EWWIR
YRH &IWXERHWTV JYRKIR WS[MI ER ,SJJIWXIR YRH
HIQ ;SLRXEK MQ *VIM^IMXTEVO 1EV^ELR XIMP
>YV :SVFIVIMXYRK HIW &EYLEYWLEPXIW YRXIV
RELQIR %YJWMGLXWVEX YRH :SVWXERH KIQIMRWEQ IM
RI 6YRHJELVX HYVGL YRWIVI ;SLRWMIHPYRKIR
2EGL HIV :IVXVIXIVZIVWEQQPYRK EQ
LEX WMGL HIV %YJWMGLXWVEX RIY OSRWXMXYMIVX YRH IV
RIYX ,IVVR . VKIR 7MIQYRH ^YQ :SVWMX^IRHIR WS
[MI ,IVVR ,ERW 4IXIV &V KKIR ^YQ WXIPPZIVXVIXIR
HIR :SVWMX^IRHIR KI[nLPX
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
1MXKPMIHIVFI[IKYRK
-Q +IWGLnJXWNELV [YVHIR RIYI 1MXKPMIHIV
:SVNELV EYJKIRSQQIR (IQ WXERHIR
(MI 1MXKPMIHIVFI[IKYRK IVKMFX JSPKIRHIW &MPH
1MXKPMIHIV 7XERH 7XERH
1MXKPMIHIVFIWXERH ^Y &IKMRR HIW +IWGLnJXWNELVIW
&IMXVMXXI
&IIRHMKYRK HIV 1MXKPMIHWGLEJX
HYVGL 8SH
HYVGL %YWXVMXX
HYVGL jFIVXVEKYRK
HYVGL %YWWGLPYWW
(EW KIRSWWIRWGLEJXPMGLI 1MIXIRW]WXIQ
(MI ;SLR;IVX1MIXI
(MI SVHIRXPMGLI :IVXVIXIVZIVWEQQPYRK YRWIVIV
+IRSWWIRWGLEJX LEX HMI )MRJ LVYRK IMRIV
KIRSWWIRWGLEJXPMGLIR ;SLR;IVX1MIXI ^YQ
FIWGLPSWWIR (MIWI MWX IMRI EQ ;SLR
[IVX SVMIRXMIVXI 9RXIVRILQIRWQMIXI (MIWIQ
&IWGLPYWW KMRKIR ^[IM .ELVI MRXIRWMZIV &IVEXYR
KIR MR EPPIR 3VKERIR ZSVEYW
(MI +IRSWWIRWGLEJX LEX WMGL QMX HIV )MRJ LVYRK HMI
WIW RIYIR 1MIXIRW]WXIQW ^[IM >MIPI KIWIX^X
(MI +IRSWWIRWGLEJX Q~GLXI IMR KIVIGLXIVIW EQ
;SLR[IVX SVMIRXMIVXIW 1MIXIRW]WXIQ J V EPPI
1MXKPMIHIV HIV Ç'LEVPSXXI WGLEJJIR (EFIM
WMRH EPPI KIWIX^PMGLIR 6IKIPYRKIR WXVMOX IMR^Y
LEPXIR (MI +VIR^IR HIW 1MIXWTMIKIPW [IVHIR
RMGLX FIVWGLVMXXIR
(MI +IRSWWIRWGLEJX QYWW EYWO~QQPMGLI 1MIX
&IIRHMKYRKIR HIV 1MXKPMIHWGLEJX :SVNELV
KIKIR FIV
IMRRELQIR IV[MVXWGLEJXIR HMI IW MLV IVQ~KPM
GLIR MR HIV >YOYRJX HMI IVJSVHIVPMGLIR 1E
RELQIR EYW IMKIRIV /VEJX WIPFWX FI[MVOIR ^Y
O~RRIR YQ EQ 1EVOX ^Y FIWXILIR
&MWLIV LEFIR [MV J RJ %RTEWWYRKIR HIV 2YX
^YRKWKIF LVIR REGL HIQ 1MIXL~LIKIWIX^ F^[
HIQ & VKIVPMGLIR +IWIX^FYGL HYVGLKIJ LVX YRH
HEFIM HMI ;SLR;IVX1MIXI FIV GOWMGLXMKX
(IV HEQEPMKI &IWGLPYWW WEL ^Y KIKIFIRIV >IMX IM
RI jFIVTV JYRK YRH jFIVEVFIMXYRK HIV /VMXIVMIR
ZSV %PWS LEFIR %YJWMGLXWVEX YRH :SVWXERH HEW
1MIXIRW]WXIQ FIVTV JX YRH IMRIR RIYIR /VMXIVMIR
OEXEPSK IVEVFIMXIX (MIWIV [YVHI ZSR HIV 1ILV^ELP
HIV :IVXVIXIV KIFMPPMKX jFIV HMI :IVnRHIVYRK LE
FIR [MV YRWIVI 1MXKPMIHIV MR HIV 'LEPSXXI-RJS 2V
MQ 1nV^ YRXIVVMGLXIX

.ELVI 'LEVPSXXIRFYVKIV
&EYKIRSWWIRWGLEJX I+
1MX IMRIQ *IWXEOX JIMIVXI HMI +IRSWWIRWGLEJX EQ
MQ ,SXIP -28)6'328- MLV NnLVMKIW
&IWXILIR >Y HIR QILV EPW +nWXIR KIL~VXIR
HMI 7IREXSVMR J V 7XEHXIRX[MGOPYRK *VEY .YRKI
6I]IV HMI &I^MVOWF VKIVQIMWXIVMR ZSR 'LEVPSXXIR
FYVK ;MPQIVWHSVJ *VEY 8LMIQIR HIV &I^MVOW
WXEHXVEX J V &EYIR 4PERIR YRH 9Q[IPXWGLYX^ HIW
&I^MVOIW 7TERHEY ,IVV 6~HMRK *VEY (V 6MIQIV
ZSQ +IWEQXZIVFERH YRH HMI :SVWXnRHI HIW
:IVFERHIW &IVPMR &VERHIRFYVKMWGLIV ;SLRYRKW
YRXIVRILQIR ,IVV &YVOEVHX YRH ,IVV ,MPPIFVERH
-R MLVIQ +VY [SVX [ VHMKXI HMI 7IREXSVMR HMI
'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX EPW JIWXI
+V~ I HIV &IVPMRIV ;SLRYRKW[MVXWGLEJX 7MI ZIV
[MIW FIWSRHIVW EYJ HMI %YW^IMGLRYRK EPW
/PMQEWGLYX^TEVXRIV MQ .ELV YRH HEW 4VSNIOX
Ç+IQIMRWEQIW ;SLRIR MQ 1IPPIV &SKIR (IV
:SVWXERH FIVMGLXIXI FIV HMI KIWGLMGLXPMGLI
)RX[MGOPYRK HIV +IRSWWIRWGLEJX HMI EYGL MR IMRIV
*IWXWGLVMJX YRXIV HIQ 1SXXS Ç(MI 'LEVPSXXI ´
IMRI ,YRHIVXNnLVMKI QMX >YOYRJX EYJKI^IMGLRIX
[YVHI
/IMR +P GO QMX HIQ ;IXXIV LEXXI HMI 'LEVPSXXI
FIM HIV KVS IR +IFYVXWXEKWTEVX] EQ
(IRRSGL OEQIR IX[E 1MXKPMIHIV YRH
*VIYRHI HIV +IRSWWIRWGLEJX YQ HMIWIW .YFMPnYQ
MR HIV 7TERHEYIV >MXEHIPPI ^Y JIMIVR *IVRWIL
QSHIVEXSV 9PPM >IPPI FIKPIMXIXI HEW EF[IGLW
PYRKWVIMGLI 4VSKVEQQ EYJ HIV KVS IR & LRI HIV
>MXEHIPPI Y E QMX MRXIVIWWERXIR -RXIVZMI[W )MR
FVMPPERXIW *IYIV[IVO OV~RXI HIR %FIRH
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
:SVWXERH YRH 1MXEVFIMXIV
-Q :SVWXERH KEF IW OIMRI
TIVWSRIPPIR :IVnRHIVYRKIR
3VHIRXPMGLI :SVWXERHWQMXKPMIHIV
WMRH WIMX HIQ HMI
,IVVIR ,ERW .SEGLMQ /SWYFIO
YRH 6YHSPJ 3VPSF WS[MI WIMX HIQ
*VEY +EFVMIPI
&SLPIFIV EPW WXIPPZIVXVIXIRHIW
:SVWXERHWQMXKPMIH
,IVV 3PEJ 6YRKI 0IMXIV HIV %F
XIMPYRK *MRER^ YRH 6IGLRYRKW
[IWIR MWX WIMX HIQ
4VSOYVMWX
(MI +IRSWWIRWGLEJX FIWGLnJXMKXI HYVGL
WGLRMXXPMGL 1MXEVFIMXIV :SVNELV
(YVGL HIR FIHEYIVPMGLIR 8SH IMRIW 1MXEVFIMXIVW
OSRRXIR [MV HIR +EVXIRVIKMIFIXVMIF RMGLX [IMXIV
J LVIR (MI FIMHIR ERHIVIR +nVXRIV [YVHIR EPW
,EYW[EVXI [IMXIV FIWGLnJXMKX
-Q (YVGLWGLRMXX
+IQn 8EVMJZIVXVEK LEFIR [MV HMI +ILnPXIV YRH
0~LRI ZSR %RKIWXIPPXIR YRH KI[IVFPMGLIR %VFIMX
RILQIVR EF YQ 4VS^IRX IVL~LX
>YWnX^PMGL KEF IW ^YQ IMRI )MRQEP
^ELPYRK ZSR :SPP^IMXFIWGLnJXMKXI
9RIVPnWWPMGL MWX HMI *SVXFMPHYRK YRWIVIV 1MXEVFIM
XIV HEQMX WMI HMI MQQIV OSQTPI\IVIR %VFIMXW
ZSVKnRKI FI[nPXMKIR 7MI PMI IR WMGL MR IPIOXVSRM
WGLIV (EXIRZIVEVFIMXYRK )(: YRH *VEKIR HIV
;SLRYRKW[MVXWGLEJX WGLYPIR (EV FIV LMREYW FI
WYGLXIR WMI Y E 7IQMREVI HIV &IVPMR &VERHIR
FYVKMWGLIR %OEHIQMI HIV ;SLRYRKW[MVXWGLEJX I
: &&% YRH EFWSPZMIVXIR HIR *IVRPILVKERK HIW
-RWXMXYXW HIV ;SLRYRKWYRXIVRILQIR MR &SGLYQ
%RKIWXIPPXI HEZSR XIMP^IMXFIWGLnJXMKX :SVNELV
%YW^YFMPHIRHI
,EYW[EVXI LEYTXFIVYJPMGL :N RIFIRFIVYJPMGL :N
6IKMI ,ERH[IVOIV
6IKMI +nVXRIV
6IMRMKYRKWOVnJXI 8IMP^IMX
4VEOXMOERXIR
%YWLMPJIR
;MV YRXIVWX X^IR ^YHIQ ZIVWGLMIHIRI 1MXEVFIM
XIV HMI WMGL MR IMKIRIV -RMXMEXMZI FIVYJPMGL UYEPMJM
^MIVIR
;IRR HMI +IRSWWIRWGLEJX MR HIR ^YV GOPMIKIRHIR
.ELVIR KYXI )VKIFRMWWI IV^MIPX LEX WS MWX IMR
KVS IV %RXIMP HEVER YRWIVIV &IPIKWGLEJX ^Y^Y
WGLVIMFIR 7MI LEX MLVI HYVGLEYW RMGLX MQQIV
PIMGLXI %VFIMX QMX LSLIQ )MRWEX^ YRH WILV ZIVERX
[SVXYRKWZSPP ZIVVMGLXIX * V HMI IVFVEGLXIR
0IMWXYRKIR FIHEROX WMGL HIV :SVWXERH FIM EPPIR
1MXEVFIMXIVMRRIR YRH 1MXEVFIMXIVR

7S^MEPI YRH OYPXYVIPPI %RKIFSXI
'LEVPSXXI7S^MEP
1MX 'LEVPSXXI7S^MEP VIEKMIVXIR [MV EYGL QMX
KPMIHIVSVMIRXMIVX EYJ HMI KIWIPPWGLEJXPMGLIR YRH
TIVW~RPMGLIR :IVnRHIVYRKIR %VFIMXWTPEX^ZIVPYWX
&I^YK ZSR ,EVX^ -: 8VIRRYRK 7GLYPHIR 7YGLX
QMXXIPEFLnRKMKOIMX /VEROLIMX YRH EPXIVWFIHMRKXI
)MRWGLVnROYRKIR [MVOIR WMGL SJX EYJ HMI ;SLR
WMXYEXMSR EYW (IWLEPF FIVMIXIR [MV YRWIVI 1MX
KPMIHIV ^ & FIM 1MIXWGLYPHIR FIV [SLRVEYQER
TEWWIRHI 1E RELQIR YRH /SWXIR^YWGL WWI HIV
/VEROIROEWWIR 'LEVPSXXI7S^MEP IRKEKMIVXI WMGL
EYGL FIM 1MIXIVOSRJPMOXIR YRH FIM HIV 1SHIV
RMWMIVYRK YRWIVIV ;SLRERPEKI MQ 1IPPIV &SKIR
7OEXXYVRMIV
'LEVPSXXI8VIJJ
OSRRXIR [MV MQ 1IPPIV &SKIR YRWIVIR
J RJXIR 'LEVPSXXI8VIJJ IMR[IMLIR )V MWX KPIMGL^IM
XMK HIV +IQIMRWGLEJXWVEYQ HIV &I[SLRIV-RRIR
HIW KIQIMRWGLEJXPMGLIR ;SLRIRW -R HIV ;EXX
WXVE I MR 7MIQIRWWXEHX IV~JJRIXIR [MV HIR 'LEVPSXXI
8VIJJ 2V 3VMIRXMIVX ER HIR *nLMKOIMXIR YRH
-RXIVIWWIR HIV &I[SLRIV-RRIR FMIXIR [MV MR HIR
8VIJJW ´ OSWXIRPSW SHIV KIKIR IMR KIVMRKIW )RXKIPX
´ 'SQTYXIV /YVWI YRH %OXMZMXnXIR [MI /SGLIR
7MRKIR 7TSVX SHIV 8ER^IR ER +IXVEKIR [IVHIR
EPPI %RKIFSXI ZSQ KIRSWWIRWGLEJXPMGLIR )RKEKI
QIRX YRWIVIV 1MXKPMIHIV OSSVHMRMIVX KITPERX
YRH [IMXIVIRX[MGOIPX [IVHIR WMI ZSR 'LEVPSXXI
7S^MEP
'LEVPSXXI%OXMZ
(IV KIKV RHIXI :IVIMR 'LEVPSXXI%OXMZ MWX
ZSR HIV (VIWWIPWXVE I MR HIR 'LEVPSXXI8VIJJ
MR HIV ;EXXWXVE I YQKI^SKIR HE IV HSVX FIWWIVI
%VFIMXWQ~KPMGLOIMXIR LEX (IV :IVIMR SVKERMWMIVXI
%YWJP KI :SVXVnKI YRH /YPXYVZIVERWXEPXYRKIR
YRXIVWX X^XI HMI %RKIFSXI MR HIR 'LEVPSXXI8VIJJW
JMRER^MIPP YRH WGLEJJXI HMZIVWI 7TMIPKIVnXI YRH
)MRVMGLXYRKWKIKIRWXnRHI J V HMI 8VIJJTYROXI ER
'SRGMIVKI
-R HIR ;,+ YRH 1IPPIV &SKIR
Y E MR 6IMRMGOIRHSVJ QMX VH ;SLRYRKIR
LEX HMI +IRSWWIRWGLEJX IMRIR 'SRGMIVKIHMIRWX
IMRKIVMGLXIX
/SSTIVEXMSR QMX 1IHM^MR QSFMP 2SVH
(EW ZSR YRW J V YRWIVI 1MXKPMIHIV IVVMGLXIXI 4JPIKI
FEH MQ 1IPPIV &SKIR [MVH MR /SSTIVEXMSR QMX
HIV 7S^MEPWXEXMSR ZSR 1IHM^MR QSFMP 2SVH FIXVIYX
%YJ ;YRWGL YRWIVIV 1MXKPMIHIV O~RRIR EYGL [IM
XIVI (MIRWXI ZSR YRWIVIQ /SSTIVEXMSRWTEVXRIV
KIKIR )RXKIPX MR %RWTVYGL KIRSQQIR [IVHIR
'LEVPSXXI-RJS
(MI +IRSWWIRWGLEJX KMFX QMX 'LEVPSXXIR-RJS IMRI IM
KIRI 1MXKPMIHIV^IMXYRK LIVEYW ,MIV ZIV~JJIRXPM
GLIR [MV MR ORETTIV *SVQ 2EGLVMGLXIR EYW YRWI
VIV +IQIMRWGLEJX 'LEVPSXXI-RJS IVWGLIMRX HVIM FMW
ZMIV 1EP MQ .ELV >Y FIWSRHIVIR )VIMKRMWWIR ^ &
:IVXVIXIV[ELP HVYGOIR [MV 7SRHIVEYWKEFIR .IHIW
1MXKPMIH HIV +IRSWWIRWGLEJX IVLnPX HMI >IMXYRK
¹;SLRIR MR &IVPMR &VERHIRFYVK©
(MI FIM YRWIVIR 1MXKPMIHIVR FIPMIFXI 1MIXIV^IM
XYRK Ç;SLRIR MR &IVPMR &VERHIRFYVK LEX )RHI
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIW +IWGLnJXWZIVPEYJIW
MLV )VWGLIMRIR PIMHIV IMRKIWXIPPX (MI LIVEYW
KIFIRHI +IWIPPWGLEJX +Ji LEX EQ IM
RIR 0MUYMHEXMSRWERXVEK FIMQ ^YWXnRHMKIR %QXW
KIVMGLX IMRKIVIMGLX
;SLRXEK
(IV NnLVPMGL MQ 6ELQIR HIV -QEKIOEQTEKRI HIV
&IVPMRIV +IRSWWIRWGLEJXIR SVKERMWMIVXI ;SLRXEK
JERH MQ *VIM^IMXTEVO 1EV^ELR WXEXX %Q
;YLPLIMHI HYVGLKIJ LVX
7S^MEPFMPER^
[MVH HIV ;SLRXEK MQ *)> MR HIV
)RXWXILYRK HIV 9RXIVRILQIRWPIMW XYRK
jFVMKI )VXVnKI
1MIXIR
iJJIRXPMGLI
*~VHIVYRKWQMXXIP
(MI 9RXIVRILQIRWPIMWXYRK EYW EPPIR FIXVMIFPM
GLIR &IVIMGLIR FIXVnKX 1MS (EZSR IRX
JEPPIR EYJ 1MIXIVP~WI 4VS^IRX YRH EYJ ~J
JIRXPMGLI 1MXXIP 4VS^IRX HMI Y E ^Y
4VS^IRX J V &IXVMIFW YRH -RWXERHLEPXYRKWOSWXIR WS
[MI ^Y 4VS^IRX J V *VIQHOETMXEP^MRWIR ZIV
:IV[IRHYRK HIV 9RXIVRILQIRW PIMW XYRK
1MIXIV
&IXVMIFW YRH -RWXERH
LEPXYRKWOSWXIR
/VIHMXMRWXMXYXI
>MRWIR
(MZMHIRHI
1MXEVFIMXIV
4 IVWSREPOSWXIR
[IRHIX [YVHIR 2EGL HIQ :IVFVEYGL J V 4IVWS
REPOSWXIR 4VS^IRX ´ HMI Y E EYGL J V
&IXVMIFW YRH -RWXERHLEPXYRKWOSWXIR ERJEPPIR ´
7XIYIVR 4VS^IRX %FWGLVIMFYRKIR YRH FVM
KIR %YJ[IRHYRKIR 4VS^IRX ZIVFPIMFIR
4VS^IRX J V IMRI (MZMHIRHIREYWWGL XXYRK
9RXIVRILQIR
%FWGLVIMFYRKIR
FVMKI %YJ[IRHYRKIR
)MKIROETMXEP
*MRER^EQX
7XIYIVR

0EKIFIVMGLX
(EVWXIPPYRK HIV 0EKI
(EVWXIPPYRK HIV 0EKI
:IVQ~KIRW YRH *MRER^PEKI
(IV :IVQ~KIRWEYJFEY YRH HMI /ETMXEPWXVYOXYV HIV +IRSWWIRWGLEJX IVKIFIR MR KIO V^XIV YRH ^YWEQQIR
KIJEWWXIV *SVQ JSPKIRHIW &MPH
%/8-:%
0ERKJVMWXMKIV &IVIMGL
7EGLERPEKIR
*MRER^ERPEKIR
+IPHFIWGLEJJYRKWOSWXIR
1MXXIP YRH OYV^JVMWXMKIV &IVIMGL
:SVVnXI
*SVHIVYRKIR YRH FVMKI :IVQ~KIRWKIKIRWXnRHI
0MUYMHI 1MXXIP
6IGLRYRKWEFKVIR^YRKWTSWXIR
4%77-:%
0ERKJVMWXMKIV &IVIMGL
)MKIROETMXEP
6 GOWXIPPYRKIR
*VIQHOETMXEP
1MXXIP YRH OYV^JVMWXMKIV &IVIMGL
6 GOWXIPPYRKIR
:IVFMRHPMGLOIMXIR
(MZMHIRHIREYWWGL XXYRK
:IVnRHIVYRKIR
`

`
0EKIFIVMGLX
(EVWXIPPYRK HIV 0EKI
(EW )MKIROETMXEP WIX^X WMGL [MI JSPKX ^YWEQQIR
+IWGLnJXWKYXLEFIR HIV ZIVFPIMFIRHIR 1MXKPMIHIV
+IWIX^PMGLI 6 GOPEKI
&EYIVRIYIVYRKWV GOPEKI
%RHIVI )VKIFRMWV GOPEKIR
)MR^ELPYRKIR EYJ MQ *SPKINELV IMRKIXVEKIRI +IWGLnJXWERXIMPI
(EW )MKIROETMXEP [YVHI HYVGL HMI >YJ LVYRK ^Y HIV &EYIVRIYIVYRKWV GOPEKI YQ 8 IVL~LX
(IV )MKIROETMXEPERXIMP ZIVVMRKIVXI WMGL EYJ :SVNELV
8 8 8
:IVnRHIVYRKIR

)VXVEKWPEKI
(MI )VJSPKWVIGLRYRK HIV +IRSWWIRWGLEJX IVKMFX MR ^YWEQQIRKIJEWWXIV *SVQ JSPKIRHIW &MPH
9QWEX^IVP~WI EYW HIV ,EYWFI[MVXWGLEJXYRK
1MIXWYFZIRXMSRIR
7SRWXMKI )VXVnKI
&IWXERHWZIVnRHIVYRKIR
%OXMZMIVXI )MKIRPIMWXYRKIR
&IXVMIFWOSWXIR YRH 7XIYIVR
-RWXERHLEPXYRKWEYJ[ERH
%RHIVI %YJ[IRHYRKIR J V ,EYWFI[MVXWGLEJXYRK
4IVWSREPEYJ[IRHYRKIR
%FWGLVIMFYRKIR
>MRWEYJ[IRHYRKIR
jFVMKI %YJ[IRHYRKIR
&IXVMIFWIVKIFRMW
*MRER^IVKIFRMW
)VXVEKWEFLnRKMKI 7XIYIVR ´ ´
.ELVIWIVKIFRMW
/ETMXEPJPYWWVIGLRYRK 'EWL *PS[
/ETMXEPJPYWWVIGLRYRK 'EWL *PS[
1MXXIPJPYWW EYW PEYJIRHIV +IWGLnJXWXnXMKOIMX
:IVnRHIVYRKIR
1MS 1MS
1MXXIPJPYWW EYW HIV -RZIWXMXMSRWXnXMKOIMX ´ ´
1MXXIPJPYWW EYW HIV *MRER^MIVYRKWXnXMKOIMX
>ELPYRKW[MVOWEQI :IVnRHIVYRK HIV JP WWMKIR 1MXXIP
*MRER^QMXXIPFIWXERH ^YQ +IWGLnJXWNELVIWFIKMRR
*MRER^QMXXIPFIWXERH ^YQ +IWGLnJXWNELVIWIRHI
`

`
0EKIFIVMGLX
'LERGIR YRH 6MWMOIR HIV ZSVEYWWMGLXPMGLIR )RX[MGOPYRK
'LERGIR YRH 6MWMOIR HIV
ZSVEYWWMGLXPMGLIR )RX[MGOPYRK
3F[SLP HMI +IRSWWIRWGLEJX KYXI :IVQMI
XYRKWIVJSPKI LEXXI FPIMFX HEW :IVQMIXYRKWVMWMOS
[IMXIVLMR IRXWGLIMHIRH J V YRWIVI %VFIMX 6YRH
HEYIVLEJX PIIVWXILIRHI ;SLRYRKIR MR
&IVPMR YRH &VERHIRFYVK WGLEJJIR IMRI IVLIFPMGLI
/SROYVVIR^ YRXIV HIR ;SLRYRKWYRXIVRILQIR
%YGL FIM HIR +I[IVFISFNIOXIR MWX HMI 7MXYEXMSR ER
KIWTERRX (IWLEPF MRZIWXMIVIR [MV [IMXIVLMR ZMIP MR
YRWIVI ;SLRYRKIR YRH MR YRWIVI ;IVFYRK
/SRXMRYMIVPMGLI -RWXERHLEPXYRK WS[MI 1SHIVRM
WMIVYRK MQ &IWXERH YRH FIM 1MIXIV[IGLWIP WMRH
[MGLXMKI :SVEYWWIX^YRKIR YQ EYGL O RJXMK
;SLRYRKIR ZIVQMIXIR ^Y O~RRIR YRH HMI 0IIV
WXERHWUYSXI KIVMRK ^Y LEPXIR
;MV [SPPIR HMI )RX[MGOPYRK YRWIVIV +IRSWWIR
WGLEJX ^Y IMRIQ QMXKPMIHIVJVIYRHPMGLIR WIVZMGI
SVMIRXMIVXIR 9RXIVRILQIR [IMXIV EYWFEYIR YRH
HMI 1MXKPMIHIVFMRHYRK J~VHIVR (EJ V ZIVFIWWIVR
[MV WXnRHMK YRWIVI ^YWnX^PMGLIR 0IMWXYRKIR [MI
HMI 'LEVPSXXI8VIJJW 'LEVPSXXI7S^MEP YRWIVI >IM
XYRK 'LEVPSXXI-RJS YRH HIV RIY IMRKIJ LVXI
'SRGMIVKIHMIRWX MR 6IMRMGOIRHSVJ %YGL HYVGL HMI
9RXIVWX X^YRK HIW :IVIMRW 'LEVPSXXI%OXMZ [SPPIR [MV
HIR +IRSWWIRWGLEJXWKIHEROIR QMX 0IFIR J PPIR
(IQ VIGLX LSLIR %YWJEPP HIV 2YX^YRKWKIF LVIR
HYVGL 1MIXWGLYPHIR ZIVWYGLIR [MV QMX IMRIV IMKI
RIR 7GLYPHRIVFIVEXYRK IRXKIKIR^Y[MVOIR 7S
[SPPIR [MV YRWIVIR 1MXKPMIHIVR LIPJIR HMI SJX YR
ZIVWGLYPHIX MR JMRER^MIPPI 2SX KIVEXIR WMRH
9Q HIR &IOERRXLIMXWKVEH HIV +IRSWWIRWGLEJXIR
^Y WXnVOIR EVFIMXIR [MV MQ 6ELQIR IMRIV -QEKI
OEQTEKRI QMX &IVPMRIV +IRSWWIRWGLEJXIR ^Y
WEQQIR 7MI [MVFX KIQIMRWEQ HYVGL %R^IMKIR
%YJOPIFIV MR HIV 9 &ELR WS[MI IMRIR -RXIVRIXEYJ
XVMXX [[[ [SLRYRKWFEYKIRSWWIRWGLEJXIR HI J V
HMI +IRSWWIRWGLEJXWMHII %Y IVHIQ J LVIR HMI
XIMPRILQIRHIR +IRSWWIRWGLEJXIR NIHIR 7SQQIV
KIQIMRWEQ IMRIR ;SLRXEK HYVGL (EFIM TVnWIR
XMIVIR WMI 1MXKPMIHIVR YRH MRXIVIWWMIVXIR &IVPMRIVR
MLV 0IMWXYRKWWTIOXVYQ
(MI 4IVWSREPWXVYOXYV YRWIVIV +IRSWWIRWGLEJX MWX MR
HIV QMXXIPJVMWXMKIR 4PERYRK WXEFMP %PXIVW F^[
OVEROLIMXWFIHMRKXIW %YWWGLIMHIR ZSR 1MXEVFIM
XIVR O~RRIR [MV EYGL O RJXMK HYVGL IMKIRI 2EGL
[YGLWOVnJXI F^[ 9QWXVYOXYVMIVYRK YRH 2IYIMR
WXIPPYRKIR EYJJERKIR
-R >YWEQQIREVFIMX QMX HIQ %YJWMGLXWVEX LEX HIV
:SVWXERH IMR 6MWMOSQEREKIQIRX IRX[MGOIPX HEW
WXnRHMK [IMXIV EYWKIFEYX [MVH ,MIV^Y KIL~VIR
Y E QILVNnLVMKI *MRER^ YRH )VJSPKWTPnRI VIKIP
Qn MKI Q RHPMGLI &IVMGLXIVWXEXXYRK MR HIR %YJ
WMGLXWVEXWWMX^YRKIR WGLVMJXPMGLI 1MXXIMPYRKIR ER
HMI %YJWMGLXWVEXWQMXKPMIHIV YRH 5YEVXEPWFIVMGLXI
(IV :SVWXERH MWX WMGLIV QMX HMIWIQ 7]WXIQ EPPI
VIPIZERXIR 6MWMOIR JV L^IMXMK IVOIRRIR YRH IRX
WTVIGLIRH KIKIRWXIYIVR ^Y O~RRIR
%YGL HMI Ç)/ 4VSFPIQEXMO HMI J V WXIYIV
TJPMGLXMKI +IRSWWIRWGLEJXIR PERKI MQ 6EYQ
WXERH OSRRXI HERO LEVXRnGOMKIV -RXIVZIRXMSR HIW
+H; [nLVIRH HIW +IWIX^KIFYRKWZIVJELVIRW ^Y
YRWIVIV >YJVMIHIRLIMX KIP~WX [IVHIR (IV ERJnRK
PMGLI +IWIX^IWIRX[YVJ LnXXI J V YRWIVI +IRSW
WIRWGLEJX IMRI 7XIYIVPEWX ZSR 1MS ´ ^ELP
FEV MR .ELVIR ´ FIHIYXIX (IWLEPF [nLPXI HMI
Ç'LEVPSXXI HMI EPXI 6IKIPYRK HIV %YWWGL X
XYRKWFIPEWXYRK [IMP WMI IVLIFPMGL RMIHVMKIVI
7XIYIVR J V HMI +IRSWWIRWGLEJX ZIVYVWEGLX 2EGL
HIV &IVEXYRK HYVGL YRWIVIR 7XIYIVFIVEXIV LEFIR
[MV FIVIMXW IMRIR IRXWTVIGLIRHIR %RXVEK KIWXIPPX

0EKIFIVMGLX
'LERGIR YRH 6MWMOIR HIV ZSVEYWWMGLXPMGLIR )RX[MGOPYRK
:SVEYWWMGLXPMGLI )RX[MGOPYRK
7XIMKIRHI )RIVKMITVIMWI YRH HEVEYW VIWYPXMIVIRH
L~LIVI &IXVMIFWOSWXIR V GOIR IRIVKIXMWGLI
;nVQIHnQQYRK WS[MI QSHIVRI 6IKIPXIGLRMO
J V ,IM^ YRH 7SPEVERPEKIR MQQIV QILV MR HIR
*SGYW ZSR 4SPMXMO YRH iJJIRXPMGLOIMX (MI ~JJIRXPM
GLI ,ERH J~VHIVX )RIVKMIWTEVQE RELQIR QMX
^MRWZIVFMPPMKXIR (EVPILIR /J; /VIHMXIR (IRO
QEPWGLYX^ O~RRXI HMI ;nVQIHnQQYRK ER
+IFnYHIR EPPIVHMRKW EYGL ZIVLMRHIVR
&IWSRHIVI 6MWMOSJEOXSVIR EYW :IVXVnKIR HMI IMR
HIR FPMGLIR +IWGLnJXIR FIVWXIMKIRHIW 1E
^IMKIR FIWXILIR RMGLX
(MI +IRSWWIRWGLEJX WMILX ^YO RJXMK OIMRI [IWIRX
PMGLIR 4VIMWnRHIVYRKWVMWMOIR >MRWIR J V WMGL
%YJKVYRH HIV WXEFMPIR [MVXWGLEJXPMGLIR 0EKI HIW
9RXIVRILQIRW WMRH [MV HIV %YJJEWWYRK HEWW HEW
6EXMRK HYVGL HMI /VIHMX KIFIRHIR &EROIR OIMRI RI
KEXMZIR %YW[MVOYRKIR EYJ HEW >MRWRMZIEY LEFIR
[MVH
(IV ZSQ &IVPMRIV 7IREX FIWGLPSWWIRI ;IKJEPP HIV
%RWGLPYWWJ~VHIVYRK FIXVMJJX YRWIVI +IRSWWIR
WGLEJX QMX HVIM 3FNIOXIR RMGLX QE KIFPMGL (MI
FIXVSJJIRIR %YJ[IRHYRKWHEVPILIR [YVHIR RYV MR
HIV 7TMX^I RIFIR HIR ~JJIRXPMGLIR &EYHEVPILIR
IMRKIWIX^X (MI 2SX[IRHMKOIMX ^YV &MPHYRK IMRIV
(VSLZIVPYWXV GOWXIPPYRK SHIV IMR %F[IVXYRKW
FIHEVJ HIV 3FNIOXI ^IMKX WMGL HIV^IMX RMGLX
(EV FIV LMREYW WMRH OIMRI 8IRHIR^IR IVOIRRFEV
HMI [IWIRXPMGLIR )MRJPYWW EYJ HMI [MVXWGLEJXPMGLI
)RX[MGOPYRK YRH HMI *MRER^PEKI HIV +IRSWWIR
WGLEJX LEFIR
:SVEYWWMGLXPMGLI )RX[MGOPYRK
%YJWMGLXWVEX YRH :SVWXERH [IVHIR EYGL MQ RIYIR
+IWGLnJXWNELV HIR IMRKIWGLPEKIRIR ;IK
HIV +IWGLnJXWTSPMXMO JSVXWIX^IR
;MV [IVHIR ^ KMK OSRXMRYMIVPPMGL YRH EYJ LSLIQ
2MZIEY QSHIVRMWMIVIR YRH MRWXERH LEPXIR 7S
WGLEJJIR [MV HMI :SVEYWWIX^YRKIR J V IMRI IVJSPK
VIMGLI :IVQMIXYRK YRH WMGLIVR HMI ^YO RJXMKI
)VXVEKWOVEJX HIV +IRSWWIRWGLEJX
* V [YVHI [MIHIV IMR YQJERKVIMGLIV &EY
LEYWLEPX ZSVKIWILIR (IV *MRER^VELQIR HEJ V
FIXVnKX 8 (MI /SWXIR J V HMI -RWXERH
LEPXYRK FIXVEKIR 8 )MR &IXVEK ZSR 8
MWX J V HMI ^Y EOXMZMIVIRHIR 4SWMXMSRIR KI
TPERX (MI ERXIMPMKI *VIQHJMRER^MIVYRK MWX MQ
*MRER^MIVYRKWTPER FIV GOWMGLXMKX
;MV TPERIR J V HMI ;SLRLEYWKVYTTIR YRH
MR 'LEVPSXXIRFYVK 2SVH ,EPIQ[IK Y E
QMX ;SLRYRKIR [IMXIVI YQJERKVIMGLI 1SHIV
RMWMIVYRKW YRH -RWXERHLEPXYRKWQE RELQIR HMI
MQ .YRM FIKMRRIR WSPPIR
(MI 0MUYMHMXnX HIW 9RXIVRILQIRW MWX MQ 6ELQIR HIV
QMXXIPJVMWXMKIR *MRER^TPERYRK KIWMGLIVX 2EGL
*SVXWGLVIMFYRK HIV ;MVXWGLEJXWTPnRI VIGLRIR [MV
J V HEW +IWGLnJXWNELV QMX IMRIQ EYWKIKPMGLI
RIR )VKIFRMW
%YJWMGLXWVEX YRH :SVWXERH LEFIR ERLERH HIV
RIYIR 1YWXIVWEX^YRK F^[ 1YWXIV[ELPSVHRYRK
IMRI RIYI 7EX^YRK YRH ;ELPSVHRYRK IRX[SVJIR
(MIW IVJSVHIVXIR HMI 2SZIPPMIVYRK HIW +IRSWWIR
WGLEJXWKIWIX^IW YRH HMI +PnXXYRK HIV +IRSWWIR
`

`
0EKIFIVMGLX
+I[MRRZIV[IRHYRKWZSVWGLPEK
&IVMGLX HIW %YJWMGLXWVEXW
WGLEJXWERXIMPI [IKIR HIV ;nLVYRKWYQWXIPPYRK
ZSR (1 EYJ )YVS (IV )RX[YVJ WSPP MQ ,IVFWX
REGL HIV 2IY[ELP HIV 7EX^YRKWOSQQMWWMSR
FIVEXIR YRH ZIVEFWGLMIHIX [IVHIR %RWGLPMI IRH
[IVHIR HMI )RX[ VJI HIR :IVXVIXIVMRRIR YRH
:IVXVIXIVR MR HIR :SVKIWTVnGLIR TVnWIRXMIVX
:SVEYWWMGLXPMGL MR HIV :IVXVIXIVZIVWEQQPYRK
+I[MRRZIV[IRHYRKWZSVWGLPEK
(IV :SVWXERH WGLPnKX HIV :IVXVIXIVZIVWEQQPYRK ZSV
:SQ &MPER^KI[MRR HIW +IWGLnJXWNELVIW ZSV /~VTIVWGLEJXWXIYIV WMRH MRWKIWEQX
4VS^IRX EYJ HMI +IWGLnJXWKYXLEFIR EYW^YWGL XXIR
(IV &MPER^KI[MRR MR ,~LI ZSR
MWX [MI JSPKX ^Y ZIV[IRHIR
%YWWGL XXYRK IMRIV (MZMHIRHI ZSR 4VS^IRX EYJ HMI EQ &IKMRR HIW +IWGLnJXWNELVIW
IMRKI^ELPXIR +IWGLnJXWKYXLEFIR MR ,~LI ZSR
&IVPMR 'LEVPSXXIRFYVK
'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
( ) 6 : 36 7 8% 2 (
3VPSF &SLPIFIV /SWYFIO
&IVMGLX HIW %YJWMGLXWVEXW
(IV %YJWMGLXWVEX YRH WIMRI %YWWGL WWI LEFIR
[nLVIRH HIW +IWGLnJXWNELVIW HMI MLRIR REGL
HIQ +IWIX^ HIV 7EX^YRK YRH HIV +IWGLnJXW
SVHRYRK FIVXVEKIRIR %YJKEFIR [ELVKIRSQ
QIR YRH HIR :SVWXERH FIM EPPIR [IWIRXPMGLIR
+IWGLnJXWZSVKnRKIR YRH *VEKIR HIV 9RXIVRIL
QIRWJ LVYRK FIV[EGLX YRH FIVEXIRH FIKPIMXIX
(IV :SVWXERH FIVMGLXIXI HIQ %YJWMGLXWVEX VIKIP
Qn MK YRH EYWJ LVPMGL FIV HMI EOXYIPPI
[MVH HERR FIV HMI )RX[ VJI J V HMI RIYI
7EX^YRK YRH ;ELPSVHRYRK EFKIWXMQQX
%YGL [IRR WMGL HIV ;SLRYRKWQEVOX ZIVnRHIVX
LEX ´ YRWIVI 1MXKPMIHIV [IVHIR WXIXW KYX YRH
WMGLIV FIM YRW [SLRIR O~RRIR
+IWGLnJXWIRX[MGOPYRK HMI *MRER^ YRH )VXVEKW
PEKI HIR 7XERH HIV &EYQE RELQIR YRH [IWIRX
PMGLI )MR^IPZSVKnRKI
(IV %YJWMGLXWVEX LEX MRWKIWEQX 7MX^YRKIR HE
ZSR %YWWGLYWW 7MX^YRKIR EFKILEPXIR
(EV FIV LMREYW J LVXIR %YJWMGLXWVnXI /EWWIR YRH
&IWXERHWTV JYRKIR HYVGL YRH RELQIR ER HIV
&EYVYRHJELVX ER &EYFIWMGLXMKYRKIR EQ 1IPPIV

&IVMGLX HIW %YJWMGLXWVEXW
&SKIR EQ 3FPIYXIKIWTVnGL HIR ~VXPMGLIR :IVXVI
XIVFIWTVIGLYRKIR YRH HIV )V~JJRYRK ZSR
'LEVPSXXI8VIJJW XIMP
(MI 8LIQIRWGL[IVTYROXI FIM HIR 7MX^YRKIR FI
^SKIR WMGL EYJ HIR .ELVIWEFWGLPYWW HMI EPP
KIQIMRI *MRER^WMXYEXMSR HMI :IVEFWGLMIHYRK HIW
&EYTVSKVEQQW YRH HMI :IVXVIXIV[ELP
-Q 6ELQIR HIV /PEYWYVXEKYRK [YVHIR HMI
8LIQIR 7EX^YRKW YRH ;ELPSVHRYRKWnRHIVYRK
;IMXIVIRX[MGOPYRK HIV FIXVMIFPMGLIR /IRR^ELPIR
YRH HEW >YOYRJXWXLIQE Ç'LEVPSXXI IVEV
FIMXIX
(IV 7GL[IVTYROX HIV FEYPMGLIR 1E RELQIR MR
[EV HMI *IVXMKWXIPPYRK HIV +IRIVEPWERMIVYRK
HIV ;SLRLEYWKVYTTIR ´ 1IPPIV &SKIR MR
6IMRMGOIRHSVJ ,MIV LEX HMI +IRSWWIRWGLEJX HYVGL
)RIVKMIWTEVQE RELQIR 7SPEVXIGLRMO YRH QMX
HIQ 4VSNIOX Ç+IQIMRWEQIW ;SLRIR MR HIV
+IRSWWIRWGLEJX QILVIVI ^YOYRJXW[IMWIRHI :SV
LEFIR YQKIWIX^X
%YJWMGLXWVEX YRH :SVWXERH [IVHIR HMI 8LIQIR
&IWXERHWWERMIVYRK IRIVKIXMWGLI 7ERMIVYRK EP
XIVWKIVIGLXIW ;SLRIR YRH HMI *~VHIVYRK HIW KI
RSWWIRWGLEJXPMGLIR +IHEROIRW [IMXIV MR HIR
*SOYW MLVIV %VFIMX WIX^IR
1MX IMRIQ KVS IR *IWXEOX EQ YRH
HIQ .YFMPnYQWJIWX EQ JIMIVXI HMI
Ç'LEVPSXXI MLVIR +IFYVXWXEK
(MI KIWIX^PMGL ZSVKIWGLVMIFIRI 4V JYRK FIV HMI
3VHRYRKWQn MKOIMX HIV +IWGLnJXWJ LVYRK [MVH
^YV^IMX HYVGL HIR &&9 ´ :IVFERH &IVPMR
&VERHIRFYVKMWGLIV ;SLRYRKWYRXIVRILQIR I :
ZSVKIRSQQIR
(IV ZSQ :SVWXERH IVWXIPPXI .ELVIWEFWGLPYWW ^YQ
HIV 0EKIFIVMGLX YRH HIV :SVWGLPEK ^YV
+I[MRRZIV[IRHYRK PEKIR HIQ %YJWMGLXWVEX ZSV
YRH [YVHIR KITV JX 2EGL &IVEXYRK MR KIQIMRWE
QIV 7MX^YRK QMX HIQ :SVWXERH YRH HIQ
%YJWMGLXWVEX [YVHIR HMIWI ZIVEFWGLMIHIX YRH KI
FMPPMKX (IV %YJWMGLXWVEX MWX WIMRIR 4V JYRKWTJPMGL
XIR REGL HIW +IRSWWIRWGLEJXWKIWIX^IW REGL
KIOSQQIR
(IV %YJWMGLXWVEX IQTJMILPX HIV :IVXVIXIVZIVWEQQ
PYRK
HMI *IWXWXIPPYRK HIW .ELVIWEFWGLPYWWIW MR
HIV ZSVKIPIKXIR *SVQ
HMI >YWXMQQYRK ^YQ :SVWGLPEK HIW :SVWXERHIW
^YV :IV[IRHYRK HIW EYWKI[MIWIRIR &MPER^
KI[MRRIW IMRWGLPMI PMGL HIV 4VS^IRX (MZM
HIRHI EYJ HMI +IWGLnJXWKYXLEFIR J V HEW
+IWGLnJXWNELV
WS[MI HMI )RXPEWXYRK ZSR :SVWXERH YRH %YJ
WMGLXWVEX J V HEW +IWGLnJXWNELV
(IV %YJWMGLXWVEX WTVMGLX HIQ :SVWXERH YRH EPPIR
1MXEVFIMXIVMRRIR YRH 1MXEVFIMXIVR HIV +IRSWWIR
WGLEJX WS[MI EPPIR :IVXVIXIVMRRIR YRH :IVXVIXIVR J V
HMI MQ .ELV IVJSPKVIMGL KIPIMWXIXI %VFIMX
(ERO YRH %RIVOIRRYRK EYW
&IVPMR 'LEVPSXXIRFYVK HIR
. VKIR 7MIQYRH
%YJWMGLXWVEXWZSVWMX^IRHIV
`

`
&MPER^ ^YQ
%/8-:%
%OXMZWIMXI
- %20%+ ):)61i+)2
% -QQEXIVMIPPI :IVQ~KIRWKIKIRWXnRHI
& 7EGLERPEKIR
+VYRHWX GOI YRH KVYRHWX GOWKPIMGLI 6IGLXI
QMX ;SLRFEYXIR
+VYRHWX GOI QMX +IWGLnJXWFEYXIR
8IGLRMWGLI %RPEKIR YRH 1EWGLMRIR
&IXVMIFW YRH +IWGLnJXWEYWWXEXXYRK
%RPEKIR MQ &EY
&EYZSVFIVIMXYRKWOSWXIR
+IPIMWXIXI %R^ELPYRKIR
' *MRER^ERPEKIR
&IXIMPMKYRKIR
7SRWXMKI %YWPIMLYRKIR
-- 910%9*:)61i+)2
% %RHIVI :SVVnXI
9RJIVXMKI 0IMWXYRKIR
%RHIVI :SVVnXI
& *SVHIVYRKIR YRH WSRWXMKI :IVQ~KIRWKIKIRWXnRHI
*SVHIVYRKIR EYW :IVQMIXYRK
*SVHIVYRKIR EYW %PXWGLYPHIR
7SRWXMKI :IVQ~KIRWKIKIRWXnRHI
' *P WWMKI 1MXXIP
/EWWIRFIWXERH 4SWXFEROKYXLEFIR
+YXLEFIR FIM /VIHMXMRWXMXYXIR
--- 6)',292+7%&+6)2>92+74378)2
+IPHFIWGLEJJYRKWOSWXIR
%RHIVI 6IGLRYRKWEFKVIR^YRKWTSWXIR
&MPER^WYQQI

4EWWMZWIMXI
4%77-:%
- )-+)2/%4-8%0
% + IWGLnJXWKYXLEFIR
(IV QMX %FPEYJ HIW +IWGLnJXWNELVIW
EYWKIWGLMIHIRIR 1MXKPMIHIV
(IV ZIVFPIMFIRHIR 1MXKPMIHIV
%YW KIO RHMKXIR +IWGLnJXWERXIMPIR
6 GOWXnRHMKI JnPPMKI )MR^ELPYRKIR
EYJ +IWGLnJXWERXIMPI
& )VKIFRMWV GOPEKIR
+IWIX^PMGLI 6 GOPEKIR
&EYIVRIYIVYRKWV GOPEKI
HEZSR MQ +IWGLnJXWNELV IMRKIWXIPPX
%RHIVI )VKIFRMWV GOPEKIR
' &MPER^KI[MRR
.ELVIW FIVWGLYWW
)MRWXIPPYRK MR )VKIFRMWV GOPEKIR
-- 6j'/78)0092+ )2
6 GOWXIPPYRKIR J V 4IRWMSRIR
7XIYIVV GOWXIPPYRKIR
7SRWXMKI 6 GOWXIPPYRKIR
--- :)6&-2(0-',/)-8)2
:IVFMRHPMGLOIMXIR KIKIR FIV /VIHMXMRWXMXYXIR
:IVFMRHPMGLOIMXIR KIKIR FIV ERHIVIR /VIHMXKIFIVR
)VLEPXIRI %R^ELPYRKIR
:IVFMRHPMGLOIMXIR EYW :IVQMIXYRK
:IVFMRHPMGLOIMXIR EYW 0MIJIVYRK YRH 0IMWXYRK
7SRWXMKI :IVFMRHPMGLOIMXIR
HEZSR EYW 7XIYIVR
&MPER^WYQQI
:SVNELVIW^ELPIR MR /PEQQIVR
`

`
+I[MRR YRH :IVPYWXVIGLRYRK
J V HMI >IMX ZSQ .ERYEV FMW (I^IQFIV
9QWnX^I EYW HIV ,EYWFI[MVXWGLEJXYRK
)VL~LYRK :IVQMRHIVYRK HIW &IWXERHIW ER YRJIVXMKIR 0IMWXYRKIR
7SRWXMKI FIXVMIFPMGLI )VXVnKI
%YJ[IRHYRKIR J V FI^SKIRI 0MIJIVYRKIR YRH 0IMWXYRKIR
%YJ[IRHYRKIR J V ,EYWFI[MVXWGLEJXYRK
4IVWSREPEYJ[ERH
E 0~LRI YRH +ILnPXIV
F 7S^MEPI %FKEFIR YRH %YJ[IRHYRKIR
J V %PXIVWZIVWSVKYRK YRH 9RXIVWX X^YRK
HEZSR J V %PXIVWZIVWSVKYRK
%FWGLVIMFYRKIR EYJ 7EGLERPEKIR
7SRWXMKI FIXVMIFPMGLI %YJ[IRHYRKIR
)VXVnKI EYW %YWPIMLYRKIR HIW *MRER^ERPEKIZIVQ~KIRW
7SRWXMKI >MRWIR SHIV nLRPMGLI )VXVnKI
>MRWIR YRH nLRPMGLI %YJ[IRHYRKIR
) VKIFRMW HIV KI[~LRPMGLIR +IWGLnJXWXnXMKOIMX
7XIYIVR ZSQ )MROSQQIR YRH )VXVEK
7SRWXMKI 7XIYIVR
.ELVIW FIVWGLYWW
>YJ LVYRK ^Y )VKIFRMWV GOPEKIR
&MPE R^KI[MRR
:SVNELVIW^ELPIR MR /PEQQIVR

%RLERK HIW .ELVIWEFWGLPYWWIW
%PPKIQIMRI %RKEFIR
)VPnYXIVYRKIR ^Y HIR &MPER^MIVYRKW YRH &I[IVXYRKWQIXLSHIR
% %PPKIQIMRI %RKEFIR
(MI +PMIHIVYRK HIV &MPER^ WS[MI HIV +I[MRR YRH
:IVPYWXVIGLRYRK IVJSPKXI IRXWTVIGLIRH HIV )VWXIR
:IVSVHRYRK ^YV dRHIVYRK HIV :IVSVHRYRK FIV
*SVQFPnXXIV J V HMI +PMIHIVYRK HIW .ELVIWEFWGLPYW
WIW ZSR ;SLRYRKWYRXIVRILQIR ZSQ
(MI ;IVXERWnX^I HIV &MPER^ ZSQ [YV
HIR YRZIVnRHIVX FIVRSQQIR
& )VPnYXIVYRKIR ^Y HIR &MPER^MIVYRKW
YRH &I[IVXYRKWQIXLSHIR
(EW 7EGLERPEKIZIVQ~KIR [MVH KVYRHWnX^PMGL ^Y
%RWGLEJJYRKW YRH ,IVWXIPPYRKWOSWXIR ERKIWIX^X
ZIVQMRHIVX YQ TPERQn MKI PMRIEVI %FWGLVIMFYRKIR
IRXWTVIGLIRH HIV ZSVEYWWMGLXPMGLIR 2YX^YRKW
HEYIV (EFIM [YVHIR *VIQHOETMXEP^MRWIR MR HMI
EOXMZMIVXIR ,IVWXIPPYRKWOSWXIR RMGLX IMRFI^SKIR
1MX &IKMRR HIV 7XIYIVTJPMGLX ^YQ [MVH
HMI 6IWXRYX^YRKWHEYIV FIM ;SLRKIFnYHIR MQ
.ELV V GO[MVOIRH EYJ .ELVI FIKVIR^X
[nLVIRH HMI +VYRHWX GOI QMX +IWGLnJXWFEYXIR
FIV IMRIR >IMXVEYQ ZSR .ELVIR EFKIWGLVMIFIR
[IVHIR
(MI %FWGLVIMFYRKIR EYJ 1SHIVRMWMIVYRKWOSWXIR
IVJSPKIR FIV .ELVI FIM HIR +IRIVEPQSHIV
RMWMIVYRKIR [IVHIR HMI %FWGLVIMFYRKIR EYJ
.ELVI ZIVXIMPX &IWSRHIVI &IXVMIFWIMRVMGLXYRKIR MR
;SLRFEYXIR [IVHIR FIV FMW .ELVI EFKI
WGLVMIFIR &IM HIV &IXVMIFW YRH +IWGLnJXW
EYWWXEXXYRK HIR 7SJX[EVI 0M^IR^IR WS[MI HIR
8IGLRMWGLIR %RPEKIR YRH 1EWGLMRIR IVJSPKX HMI PM
RIEVI %FWGLVIMFYRK FIV .ELVI +IVMRK[IVXMKI
;MVXWGLEJXWK XIV [IVHIR MQ .ELV HIV %RWGLEJJYRK
ZSPP EFKIWGLVMIFIR
(MI *MRER^ERPEKIR WMRH ^Y %RWGLEJJYRKWOSWXIR
F^[ HIQ FIM^YPIKIRHIR ;IVX EQ %FWGLPYWW
WXMGLXEK FI[IVXIX KPIMGLIW KMPX J V 9RJIVXMKI
0IMWXYRKIR YRH %RHIVI :SVVnXI
2MGLX [IVXLEPXMKI *SVHIVYRKIR EYW :IVQMIXYRK
YRH :IVTEGLXYRK [IVHIR EFKIWGLVMIFIR
+IPHFIWGLEJJYRKWOSWXIR [IVHIR FIV HMI 0EYJ
^IMX HIV /VIHMXZIVXVnKI EFKIWGLVMIFIR
(IV &EV[IVX HIV 4IRWMSRWV GOWXIPPYRKIR [MVH EYJ
KVYRH ZSR ZIVWMGLIVYRKWQEXLIQEXMWGLIR +YX
EGLXIR QMX IMRIQ >MRWJY ZSR 4VS^IRX KIFMP
HIX -R HIR :SVNELVIR [YVHI QMX IMRIQ 6IGL
RYRKW^MRWWEX^ ZSR 4VS^IRX FI[IVXIX
)W IVKIFIR WMGL FIM IMRIQ >MRWWEX^ ZSR 4VS^IRX
4IRWMSRWV GOWXIPPYRKIR MR ,~LI ZSR
YRH FIM IMRIQ >MRWWEX^ ZSR 4VS^IRX 4IRWMSRW
V GOWXIPPYRKIR MR ,~LI ZSR
* V HMI LERHIPWVIGLXPMGLI &I[IVXYRK HIV 4IR
WMSRWV GOWXIPPYRKIR [YVHIR HMI 6MGLXXEJIPR
+ HIV ,IYFIGO 6MGLXXEJIPR +QF, ERKI[ERHX
(MI 7SRWXMKIR 6 GOWXIPPYRKIR FIV GOWMGLXMKIR EP
PI IVOIRRFEVIR 6MWMOIR
(MI :IVFMRHPMGLOIMXIR WMRH ^Y MLVIQ 6 GO^EL
PYRKWFIXVEK 6IRXIRZIVTJPMGLXYRKIR QMX HIQ
&EV[IVX TEWWMZMIVX
`

`
%RLERK HIW .ELVIWEFWGLPYWWIW
)VPnYXIVYRKIR ^YQ .ELVIWEFWGLPYWW
' )VPnYXIVYRKIR ^YQ .ELVIWEFWGLPYWW
- &MPER^
)RX[MGOPYRK HIW %RPEKIZIVQ~KIRW
WMILI 8EFIPPI 7IMXI
(MI +IRSWWIRWGLEJX FIWMX^X OIMRI /ETMXEP
ERXIMPI MR ,~LI ZSR QMRHIWXIRW 4VS^IRX ER
ERHIVIR 9RXIVRILQIR
-R HIV 4SWMXMSR 9RJIVXMKI 0IMWXYRKIR WMRH
&IXVMIFWOSWXIR IRXLEPXIR
RSGL RMGLX EFKIVIGLRIXI
-R HIV 4SWMXMSR Ç7SRWXMKI :IVQ~KIRWKIKIR
WXnRHI WMRH OIMRI &IXVnKI KV~ IVIR 9QJERKW
IRXLEPXIR HMI VIGLXPMGL IVWX REGL HIQ
%FWGLPYWWWXMGLXEK IRXWXILIR
*SVHIVYRKW YRH :IVFMRHPMGLOIMXIRWTMIKIP
-R HIR Ç7SRWXMKIR 6 GOWXIPPYRKIR WMRH JSP
KIRHI 6 GOWXIPPYRKIR IRXLEPXIR
E 9VPEYFWV GOWXIPPYRKIR
F )VWXIPPYRK 4V JYRK YRH
:IV~JJIRXPMGLYRK HIW
.ELVIWEFWGLPYWWIW
G &IVYJWKIRSWWIRWGLEJX
-- +I[MRR YRH :IVPYWXVIGLRYRK
-R HIV +I[MRR YRH :IVPYWXVIGLRYRK WMRH OIMRI
[IWIRXPMGLIR TIVMSHIRJVIQHIR )VXVnKI SHIV %YJ
[IRHYRKIR IRXLEPXIR
(MI *SVHIVYRKIR QMX IMRIV 6IWXPEYJ^IMX ZSR QILV EPW IMRIQ .ELV WXIPPIR WMGL [MI JSPKX HEV
(EZSR QMX IMRIV 6IWXPEYJ^IMX 6IWXPEYJ^IMX
*SVHIVYRKIR -RWKIWEQX 6IWXPEYJ^IMX ^[MWGLIR FIV
ZSR YRXIV .ELV FMW .ELVIR .ELVI
*SVHIVYRKIR EYW :IVQMIXYRK
7SRWXMKI :IVQ~KIRWKIKIRWXnRHI
+IWEQXFIXVEK

(MI *VMWXIR HIV :IVFMRHPMGLOIMXIR WS[MI HMI ^YV 7MGLIVYRK KI[nLVXIR 4JERHVIGLXI
S n 6IGLXI WXIPPIR WMGL [MI JSPKX HEV
*SVHIVYRKIR -RWKIWEQX (EZSR 6IWXPEYJ^IMX FMW .ELVI FIV .ELVI +IWMGLIVX %VX HIV
YRXIV .ELV 7MGLIVYRK
+IKIR FIV
/VIHMXMRWXMXYXIR
+IKIR FIV
/VIHMXKIFIVR
)VLEPXIRI
%R^ELPYRKIR
%YW :IVQMIXYRK
%YW 0MIJIVYRKIR
YRH 0IMWXYRKIR
7SRWXMKI
:IVFMRHPMGLOIMXIR
+IWEQX
+46 ! +VYRHTJERHVIGLXI
:SVNELVIW^ELPIR MR /PEQQIVR
+46
+46
`

`
%RLERK HIW .ELVIWEFWGLPYWWIW
)VPnYXIVYRKIR ^YQ .ELVIWEFWGLPYWW
)RX[MGOPYRK HIW %RPEKIZIVQ~KIRW
- -QQEXIVMIPPI
:IVQ~KIRWKIKIRWXnRHI
-- 7EGLERPEKIR
+VYRHWX GOI YRH
KVYRHWX GOWKPIMGLI 6IGLXI
QMX ;SLRFEYXIR
+VYRHWX GOI QMX
+IWGLnJXWFEYXIR
8IGLRMWGLI %RPEKIR
YRH 1EWGLMRIR
&IXVMIFW YRH
+IWGLnJXWEYWWXEXXYRK
%RPEKIR MQ &EY
&EYZSVFIVIMXYRKWOSWXIR
+IPIMWXIXI %R^ELPYRKIR
>[MWGLIRWYQQI
--- *MRER^ERPEKIR
&IXIMPMKYRKIR
7SRWXMKI %YWPIMLYRKIR
>[MWGLIRWYQQI
%RPE KIZIVQ~KIR
MRWKIWEQX
%RWGLEJJYRKW
F^[
,IVWXIPPYRKWOSWXIR
TIV
&VYXXS[IVX
>YKnRKI %FKnRKI 9QFYGLYRKIR >YWGLVIMFYRKIR %RWGLEJJYRKW
F^[
,IVWXIPPYRKWOSWXIR
TIV

YQYPMIVXI
%FWGLVIMFYRKIR
TIV
%FWGLVIMFYRKIR
HIW
+IWGLnJXWNELVIW
%FWGLVIMFYRKIR &YGL[IVXI
%YJ %FKnRKI
IRXJEPPIRHI
%FWGLVIMFYRKIR
>YWGLVIMFYRKIR /YQYPMIVXI
%FWGLVIMFYRKIR
TIV
&YGL[IVX
^YQ
&YGL[IVX
^YQ
`

`
%RLERK HIW .ELVIWEFWGLPYWWIW
( 7SRWXMKI %RKEFIR
(MI >ELP HIV MQ +IWGLnJXWNELV
HYVGLWGLRMXXPMGL FIWGLnJXMKXIR %VFIMX
RILQIV FIXVYK W 8EFIPPI VIGLXW
>YWnX^PMGL [EVIR IMR 4VEOXMOERX YRH
IMRI %YWLMPJWOVEJX XnXMK
1MXKPMIHIVFI[IKYRK W 8EFIPPI
+IWGLnJXWKYXLEFIR
(MI +IWGLnJXWKYXLEFIR HIV ZIVFPIM
FIRHIR 1MXKPMIHIV LEFIR WMGL MQ
+IWGLnJXWNELV ZIVQMRHIVX YQ
^YQ
7SRWXMKI %RKEFIR
YRH FIXVEKIR WSQMX
2EQI YRH %RWGLVMJX HIW ^YWXnRHMKIR 4V JYRKWZIVFERHIW
&&9 :IVFERH &IVPMR &VERHIRFYVKMWGLIV ;SLRYRKWYRXIVRILQIR I : 0IRX^IEPPII &IVPMR
1MXKPMIHIV HIW :SVWXERHW
1MXKPMIHIV HIW %YJWMGLXWVEXW
&IVPMR HIR
'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
( ) 6 : 36 7 8% 2 (
OEYJQnRRMWGLI 1MXEVFIMXIV
XIGLRMWGLI 1MXEVFIMXIV
1MXEVFIMXIV MQ 6IKMIFIXVMIF
,EYW[EVXI 6IMRMKYRKWOVEJX
%YW^YFMPHIRHI
3VPSF &SLPIFIV /SWYFIO
:SPPFIWGLnJXMKXI 8IMP^IMXFIWGLnJXMKXI
%RJERK 1MXKPMIHIV QMX %RXIMPIR
1MXKPMIHW 2V
>YKERK 1MXKPMIHIV QMX %RXIMPIR
FMW
%YWXVMXX 1MXKPMIHIV QMX %RXIMPIR
)RHI 1MXKPMIHIV QMX %RXIMPIR
,ERW .SEGLMQ /SWYFIO
6YHSPJ 3VPSF
+EFVMIPI &SLPIFIV WXIPPZ
:SVWXERH WIMX
&IVYJ %YJW MGLXWVEX WIMX *YROXMSR MQ &IVMGLXWNE LV
;SPJKERK &SWMIR (MTP :IV[EPXYRKW[MVX 7XIPPZ 3FQERR :% FMW
,ERW 4IXIV &V KKIR (MTP /EYJQERR 7XIPPZ :SVWMX^IRHIV
-RKS (VIGLWPIV %YWFMPHYRKWPIMXIV 7XIPPZ 7GLVMJXJ LVIV
8LSQEW )MGLLSVR 7XEHX YRH 6IKMSREPTPERIV 7XIPPZ 3FQERR &% E F
1EVXMR )VRWX 6MGLXIV 7XIPPZ 3FQERR :% E F
-PSRE ,EVXIRWXIMR 7S^MEPZIVWMGLIVYRKWJEGLERKIWXIPPXI
4IXIV ,YRHWH~VJIV &EYMRKIRMIYV M 6 FMW 3FQERR &% FMW
(rWMVrI ,YVX /EYJJVEY MR HIV +VYRHWX GOW YRH ;SLRYRKW[MVXWGLEJX 7GLVMJXJ LVIVMR
/PEYW (MIXIV 1 PPIV &EYMRKIRMIYV 7XIPPZ 3FQERR &% FMW
3FQERR &% EF
&VMXXE 7GLQMKSX^OM (MTP -RK 7XEHX YRH 6IKMSREPTPERYRK
. VKIR 7MIQYRH 1EWGLMRIRFEYMRKIRMIYV M 6 :SVWMX^IRHIV
7ERH] 7TPMRXIV 7GLSVRWXIMRJIKIVQIMWXIV +IFnYHIIRIVKMIFIVEXIV
,IVFIVX >ERHIV 6IEPWGLYPOSRVIOXSV 3FQERR HIW :%
:% ! :IV[EPXYRKWEYWWGLYWW
&% ! &EYEYWWGLYWW

%RLERK HIW .ELVIWEFWGLPYWWIW
7EGLERPEKIR
(EW 9QFYGLYRKWIVKIFRMW FIM Ç+VYRHWX GOIR
YRH KVYRHWX GOWKPIMGLIR 6IGLXIR QMX
;SLRFEYXIR MR ,~LI ZSR 8 ZIVXIMPX
WMGL EYJ JSPKIRHI &EYQE RELQIR
&IM HIR Ç8IGLRMWGLIR %RPEKIR YRH 1EWGLMRIR MWX IMR ;nWGLIXVSGORIV MR ,~LI ZSR 8 EPW >YKERK
EYWKI[MIWIR (IV %FKERK MR ,~LI ZSR 8 FIXVMJJX HIR %FKERK IMRIW ;nWGLIXVSGORIVW
(MI >YKnRKI J V Ç&IXVMIFW YRH +IWGLnJXW
EYWWXEXXYRK MR ,~LI ZSR 8 FIXVIJJIR
(MI %FKnRKI MR ,~LI ZSR 8 IRXWXERHIR
MR ,~LI ZSR 8 HYVGL HMI FYGLLEPXIVMWGLI
&ILERHPYRK KIVMRK[IVXMKIV ;MVXWGLEJXWK XIV
YRH MR ,~LI ZSR 8 HYVGL HIR %FKERK
ZSR &IXVMIFW YRH +IWGLnJXWEYWWXEXXYRK HMI
OIMRI :IV[IRHYRK QILV JERH
&IM HIR Ç%RPEKIR MQ &EY WMRH EPW >YKERK
F^[ %FKERK EYWKI[MIWIR
(MI 9QFYGLYRKWEFKnRKI FIM HIR Ç%RPEKIR
MQ &EY 8 YRH HIR Ç&EYZSV
FIVIMXYRKWOSWXIR 8 OSVVIWTSRHMIVIR
QMX HIR 9QFYGLYRKW^YKnRKIR HIV 4SWMXMSR
Ç+VYRHWX GOI YRH KVYRHWX GOWKPIMGLI 6IGLXI
QMX ;SLRFEYXIR 8
%PW >YKERK FIM HIR Ç&EYZSVFIVIMXYRKWOSW
XIR WMRH JSPKIRHI &EYZSVLEFIR EYWKI[MIWIR
(IV 9QFYGLYRKWEFKERK FIXVMJJX HMI ;,+
QMX 8
-RJSVQEXMSRIR ^YQ .ELVIWEFWGLPYWW
-RJSVQEXMSRIR ^YQ .ELVIWEFWGLPYWW
;,+ >YWEQQIRPIKYRK REGLXVnKPMGLI /SWXIR
;,+ &EPOSRERFEYXIR YRH :SPP[nVQIWGLYX^
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI >YWGL WWI
;,+ 'LEVPSXXI8VIJJ
;,+ :SPP[nVQIWGLYX^
;,+ >YWEQQIRPIKYRK
;,+ +IWEQXQE RELQI >YWGL WWI
;,+ +IWEQXQE RELQI
7GLEYOnWXIR
1IWWKIVnXI
& VSQ~FIP YRH &IPIYGLXYRKWIMRVMGLXYRK
7SRWXMKIW
;,+ >YWEQQIRPIKYRK REGLXVnKPMGLI /SWXIR
;,+ &EPOSRERFEYXIR YRH :SPP[nVQIWGLYX^
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI >YWGL WWI
;,+ 'LEVPSXXI8VIJJ
;,+ :SPP[nVQIWGLYX^
;,+ >YWEQQIRPIKYRKIR
;,+ +IWEQXQE RELQI >YWGL WWI
;,+ +IWEQXQE RELQI
;,+ +IWEQXQE RELQI 1SHIVRMWMIVYRK
;,+ +IWEQXQE RELQI 1SHIVRMWMIVYRK
;,+ +IWEQXQE RELQI 1SHIVRMWMIVYRK
8
8
8
8
`

`
%RLERK HIW .ELVIWEFWGLPYWWIW
-RJSVQEXMSRIR ^YQ .ELVIWEFWGLPYWW
9QPEYJZIVQ~KIR
%RHIVI :SVVnXI
-R HIR Ç9RJIVXMKIR 0IMWXYRKIR [IVHIR 8
YQPEKIJnLMKI /SWXIR EYWKI[MIWIR HMI MR
EFKIVIGLRIX [IVHIR (MI Ç%RHIVIR
:SVVnXI IRXLEPXIR ,IM^~PFIWXnRHI MR ,~LI ZSR
8
*SVHIVYRKIR YRH WSRWXMKI :IVQ~KIRWKIKIRWXnRHI
(MI Ç*SVHIVYRKIR EYW :IVQMIXYRK IRXLEPXIR 8
9QPEKIR
V GOWXnRHMKI 1MIXIR +IF LVIR YRH
Ç*SVHIVYRKIR EYW %PXWGLYPHIR MR ,~LI ZSR 8
[YVHIR %RJERK ZSR HIV /J; IVWXEXXIX
9RXIV HIR Ç7SRWXMKIR :IVQ~KIRWKIKIRWXnRHIR
[IVHIR Y E *SVHIVYRKIR ER HEW *MRER^EQX QMX 8
YRH EYW :IVWMGLIVYRKWWGLnHIR QMX 8
EYWKI[MIWIR
*P WWMKI 1MXXIP
Ç/EWWIRFIWXERH 4SWXFEROKYXLEFIR YRH +YXLE
FIR FIM /VIHMXMRWXMXYXIR KPMIHIVR WMGL MR +YXLE
FIR EYJ PEYJIRHIR /SRXIR QMX 8
8IVQMRKIPHIVR MR ,~LI ZSR 8 YRH HIR
/EWWIRFIWXERH QMX 8
%RHIVI 6IGLRYRKWEFKVIR^YRKWTSWXIR
-R HIR Ç%RHIVIR 6IGLRYRKWEFKVIR^YRKWTSWXIR
[IVHIR >ELPYRKIR ER HMI +%7%+ YRH :EXXIRJEPP
8 YRH WSRWXMKI >ELPYRKIR EYWKI[MI
WIR HMI MR J V KIXnXMKX [YVHIR
)MKIROETMXEP
(MI +IWGLnJXWKYXLEFIR HIV ZIVFPIMFIRHIR 1MX
KPMIHIV LEFIR WMGL MQ 0EYJI HIW +IWGLnJXWNELVIW YQ
8 EYJ 8 ZIVQMRHIVX (MI WEX
^YRKWKIQn KIWXYRHIXIR >ELPYRKIR EYJ +I
WGLnJXWERXIMPI FIXVEKIR 8
(IV Ç&EYIVRIYIVYRKWV GOPEKI [YVHIR ´ KIQn
IMRIQ KIQIMRWEQIR &IWGLPYWWIW ZSR %YJWMGLXWVEX
YRH :SVWXERH ´ 8 ^YKIJ LVX
6 GOWXIPPYRKIR
(IR Ç4IRWMSRWV GOWXIPPYRKIR [YVHIR KIQn
ZIVWMGLIVYRKWQEXLIQEXMWGLIR +YXEGLXIR FIM
IMRIQ 6IGLRYRKW^MRWWEX^ ZSR 4VS^IRX MQ
+IWGLnJXWNELV 8 ^YKIJ LVX -R HIR :SV
NELVIR [YVHI QMX IMRIQ 6IGLRYRKW^MRWWEX^ ZSR
4VS^IRX FI[IVXIX &IM &IMFILEPXYRK HMIWIW
6IGLRYRKW^MRWWEX^IW IVKnFI WMGL IMRI >YJ LVYRK
ZSR 8 * V 4IRWMSRW^ELPYRKIR [YVHIR
8 ZIVFVEYGLX 8 [YVHIR EYJKIP~WX
&IM HIR Ç7SRWXMKIR 6 GOWXIPPYRKIR [YVHIR 8
J V 4V JYRK YRH :IV~JJIRXPMGLYRK 8 J V
HMI &IVYJWKIRSWWIRWGLEJX YRH J V 9VPEYFWV GO
WXIPPYRKIR 8 ^YKIJ LVX
:IVFMRHPMGLOIMXIR
(MI Ç:IVFMRHPMGLOIMXIR KIKIR FIV /VIHMXMRWXMXY
XIR ZIVnRHIVXIR WMGL KIKIR FIV HIQ :SVNELV YQ
>YKnRKI MR ,~LI ZSR 8 YQ 9QFY
GLYRKWEFKnRKI [IKIR 9QJMRER^MIVYRKIR MR ,~LI
ZSR 8 YRH YQ 8MPKYRKIR MR ,~LI ZSR 8
(MI Ç:IVFMRHPMGLOIMXIR KIKIR FIV ERHIVIR /VIHMX
KIFIVR ZIVnRHIVXIR WMGL KIKIR FIV HIQ :SV
NELV YQ 9QFYGLYRKW^YKnRKI MR ,~LI ZSR 8
[IKIR 9QJMRER^MIVYRKIR YQ 2IYEYJREL
QIR MR ,~LI ZSR 8 YRH YQ 8
8MPKYRKIR
-R HIR Ç)VLEPXIRIR %R^ELPYRKIR [IVHIR RSGL
RMGLX EFKIVIGLRIXI 9QPEKIRZSVWGL WWI EYWKI
[MIWIR (MIWIR :SVWGL WWIR WXILIR EFVIGLRYRKW

JnLMKI /SWXIR YRXIV HIR Ç9RJIVXMKIR 0IMWXYRKIR
KIKIR FIV
(MI Ç:IVFMRHPMGLOIMXIR EYW :IVQMIXYRK IRXLEP
XIR ZSVEYWFI^ELPXI 1MIXIR +IF LVIR YRH 9Q
PEKIR WS[MI ,MRXIVPIKYRKIR J V 7GL~RLIMXWVITE
VEXYVIR
(MI Ç:IVFMRHPMGLOIMXIR EYW 0MIJIVYRKIR YRH 0IMW
XYRKIR KPMIHIVR WMGL [MI JSPKX
:IVFMRHPMGLOIMXIR EYW &EY YRH
-RWXERHLEPXYRKWPIMWXYRKIR
HEZSR +EVERXMIIMRFILEPXI 8 8
:IVFMRHPMGLOIMXIR EYW &IXVMIFWOSWXIR 8
:IVFMRHPMGLOIMXIR EYW :IV[EPXYRKWOSWXIR 8
9RXIV HIR Ç7SRWXMKIR :IVFMRHPMGLOIMXIR WMRH Y E
:IVFMRHPMGLOIMXIR EYW HIQ /ETMXEPHMIRWX QMX
8 YRH 8 :IVFMRHPMGLOIMXIR EYW
;SLRYRKWFEYTVnQMIR EYWKI[MIWIR
(MI JSPKIRHIR 4SWMXMSRIR [IVHIR MR HIV &MPER^
RMGLX IVJEWWX YRH HIWLEPF LMIV REGL HIQ 7XERH
EQ &MPER^WXMGLXEK ZIVQIVOX
+VYRHHMIRWXFEVOIMXIR ZIVWGLMIHIRIV %VX QIL
VIVI ;SLRLEYWKVYTTIR FIXVIJJIRH Y E ZIV
XVEKPMGLI &IWIX^YRKWVIGLXI J V MRWKIWEQX
;SLRYRKIR
:IVTJPMGLXYRKIR ^YV 0IMWXYRK ZSR )VWGLPMI
YRKWFIMXVnKIR J V ZIVWGLMIHIRI +VYRHWX GOI
+I[MRR YRH :IVPYWXVIGLRYRK
(MI Ç9QWEX^IVP~WI EYW HIV ,EYWFI[MVXWGLEJXYRK
KPMIHIVR WMGL MR 7SPPQMIXIR YRH )MRRELQIR EYW
7SRHIVIMRVMGLXYRKIR EF^ KPMGL )VP~WWGLQnPIVYR
KIR QMX 8 WS[MI MR %YJ[IRHYRKWLMPJIR
%YJ[IRHYRKW^YWGL WWIR YRH >MRW^YWGL WWIR MR
,~LI ZSR 8 (MI )VP~WI EYW YQPEKIJnLMKIR
&IXVMIFWOSWXIR FIXVEKIR 8
(MI Ç7SRWXMKIR FIXVMIFPMGLIR )VXVnKI WIX^IR WMGL
Y E EYW HIV %YJP~WYRK ZSR 9VPEYFW YRH WSRWXMKIR
6 GOWXIPPYRKIR 8 )MRXVMXXWKIPHIVR 8
>ELPYRKIR EYJ EFKIWGLVMIFIRI *SVHIVYRKIR
8 IMRIQ >YWGLYWW J V HEW *SVWGLYRKW
TVSNIOX )\;S7X 8 YRH %FKIPXYRKWIVXVnKIR
8 ^YWEQQIR
-R HIR %YJ[IRHYRKIR J V HMI ,EYWFI[MVXWGLEJ
XYRK WMRH IRXLEPXIR
E &IXVMIFWOSWXIR 8
F -RWXERHLEPXYRKWOSWXIR 8
G 7SRWXMKI 7EGL YRH
(MIRWXPIMWXYRKIR 8
-R HIR Ç7SRWXMKIR FIXVMIFPMGLIR %YJ[IRHYRKIR
WMRH Y E IRXLEPXIR %FWGLVIMFYRKIR EYJ *SVHI
VYRKIR 8 HMI /SWXIR J V HMI .ELV
JIMIV 8 WS[MI HMI /SWXIR J V HMI :IVXVI
XIV[ELPIR 8
&IM HIR Ç)VXVnKIR EYW &IXIMPMKYRKIR YRH %YWPIML
YRKIR HIW *MRER^ERPEKIZIVQ~KIRW WMRH HMI >MR
WIR J V %VFIMXKIFIVHEVPILIR EYWKI[MIWIR
(MI Ç7SRWXMKIR >MRWIR YRH nLRPMGLI )VXVnKI IRX
LEPXIR >MRWIR J V +YXLEFIR FIM /VIHMXMRWXMXYXIR
8 >MRWIR J V *IWXKIPHIV YRH ;IVXTETMI
VI 8 WS[MI WSRWXMKI >MRWIR 8
-R HIV 4SWMXMSR Ç>MRWIR YRH nLRPMGLI %YJ[IRHYR
KIR WMRH QMX 8 >MRWIR J V HMI PERKJVMW
XMKI *MRER^MIVYRK HIW ,EYWFIWMX^IW IRXLEPXIR
%Y IVHIQ [IVHIR LMIV %FWGLVIMFYRKIR EYJ
+IPHFIWGLEJJYRKWOSWXIR YRH & VKWGLEJXWKIF L
VIR EYWKI[MIWIR
&IM HIR Ç7XIYIVR ZSQ )MROSQQIR YRH )VXVEK
LERHIPX IW WMGL YQ /~VTIVWGLEJXWXIYIV 8
YRH 7SPMHEVMXnXW^YWGLPEK 8
8
`

`
%RLERK HIW .ELVIWEFWGLPYWWIW
0MWXI HIV ;SLRYRKIR
7TERHEY ,EOIRJIPHI
;,+
+VEJIR[EPHIV ;IK ´
,SLIR^SPPIVRVMRK ´
;IKWGLIMHIV 7XV
;,+
,SLIR^SPPIVRVMRK
;ERWHSVJIV 7XIMK ´
;IKWGLIMHIV 7XV
;,+
,SLIR^SPPIVRVMRK
;ERWHSVJIV 7XIMK ´
;IKWGLIMHIV 7XV
;,+
,SLIR^SPPIVRVMRK E F
;,+
,SLIR^SPPIVRVMRK E F
;,+
,SLIR^SPPIVRVMRK G H I
;IKWGLIMHIV 7XV
;,+
,SLIR^SPPIVRVMRK G H I
;IKWGLIMHIV 7XV
;,+
6IY WXV
7XVIMXWXV E´
;IKWGLIMHIV 7XV ´
;,+
;ERWHSVJIV 4PEX^
;ERWHSVJIV 7XIMK ´
;,+
%QSVFEGLIV ;IK ´ YRKIV
;ERWHSVJIV 4PEX^
;ERWHSVJIV 7XIMK ´
;,+
%QSVFEGLIV ;IK ´ KIV
;ERWHSVJIV 4PEX^ ´
;,+
1MGLIPWXEHXIV ;IK ´ KIV
6IY WXV
;,+
1MGLIPWXEHXIV ;IK ´ YRKIV
6IY WXV
7GL[IRH][IK
;ERWHSVJIV 4PEX^ ´
;,+
6IY WXV
7GL[IRH][IK ´ YRKIV ´
´ KIV
;,+
,EOIRJIPHIV 7XV E F
1MGLIPWXEHXIV ;IK ´ KIV
7XVIMXWXV ´
;,+
1MGLIPWXEHXIV ;IK E´H
E´G E´G ´ YR
KIV
;EPPH VRIV ;IK E F
´ KIV
;,+
'EYXMYWWXV ´ YRKIV E F
1MGLIPWXEHXIV ;IK ´ YR
KIV E´G
;,+
'EYXMYWWXV
1MGLIPWXEHXIV ;IK
7GL[IRH][IK
;,+
'EYXMYWWXV
1MGLIPWXEHXIV ;IK
;,+
7GL[IRH][IK ´ YRKIV
;,+
'EYXMYWWXV
7GL[IRH][IK ´ YRKIV
;,+
/SVRFYVKIV ;IK
;,+
'EYXMYWWXV
1MGLIPWXEHXIV ;IK ´ KIV
;,+
'EYXMYWWXV E F
1MGLIPWXEHXIV ;IK
;,+
7XVIMXWXV
7TERHEY *EPOIRLEKIRIV *IPH
;,+
)MWIVJIPHIV 6MRK ´ KIV ´
´ YRKIV
*VIYHIRFIVKIV ;IK E E E
;MXXKIRWXIMRIV ;IK ´ YRKIV
7MIQIRWWXEHX
;,+
2SRRIRHEQQEPPII E
6SLVHEQQ E E F
;EXXWXV E E
;IVRIV[IVOHEQQ
;,+
.YKIRH[IK E
1nGOIVMX^WXV ´ YRKIV
2SRRIRHEQQEPPII ´ F
5YIPP[IK ´ KIV
'LEVPSXXIRFYVK 2SVH
;,+
,EPIQ[IK ´ YRKIV
;,+
,EPIQ[IK
;,+
,IGOIVHEQQ ´ G YRKIV

;,+
,EPIQ[IK ´ YRKIV
8SITPIVWXV
'LEVPSXXIRFYVK
;,+
)SWERHIVWXV
;,+
&VEYLSJWXV E
;,+
'VYWMYWWXV ´ KIV
/SPPEX^WXV ´ ´
KIV ´
0IVWGLTJEH ´ KIV
;,+
*VIHIVMGMEWXV ´
/~RMKMR )PMWEFIXL 7XV
1IIVWGLIMHXWXV
;,+
(VIWWIPWXV
6MILPWXV ´ E
;,+
/EMWIVHEQQ
;,+
/SLPVEYWGLWXV E E F
;,+
/SLPVEYWGLWXV
;,+
,EYFEGLWXV
;MPQIVWHSVJ
;,+
&MRKIVWXV ´
,SQFYVKIVWXV
2EYLIMQIV 7XV E
7GLPERKIRFEHIV 7XV ´
7XIKPMX^
;,+
&IVKWXV ´
*MPERHEWXV
0EYIRFYVKIVWXV ´ KIV
0IWWMRKWXV E ´
;YXLIRS[WXV ´
6IMRMGOIRHSVJ
;,+
+IRIVEP &EVF] 7XV ´ KIV
7GLEVR[IFIVWXV
>SFIPXMX^WXV
;,+
%YKYWXI :MOXSVME %PPII
+IRIVEP &EVF] 7XV ´ KIV
;,+
7GLEVR[IFIVWXV ´ E
;,+
)RKIPQERR[IK ´
>SFIPXMX^WXV
;,+
%Q (SKKIPLSJ
)RKIPQERR[IK ´
>SFIPXMX^WXV
;,+
%YKYWXI :MOXSVME %PPII
)RKIPQERR[IK ´
>SFIPXMX^WXV
;,+
)RKIPQERR[IK ´
>SFIPXMX^WXV
;,+
%YKYWXI :MOXSVME %PPII
)RKIPQERR[IK E
;,+
%YKYWXI :MOXSVME %PPII
)RKIPQERR[IK ´
+IRIVEP &EVF] 7XV ´ KIV
;,+
)RKIPQERR[IK ´
+IRIVEP &EVF] 7XV ´ KIV
1IPPIV &SKIR
;,+
+IRIVEP &EVF] 7XV ´ F KIV
1IPPIV &SKIR
;,+
%Q (SKKIPLSJ
7GLEVR[IFIVWXV
>SFIPXMX^WXV ´ G
;,+
>SFIPXMX^WXV H I J
;,+
%YKYWXI :MOXSVME %PPII
;IM IRWII
;,+
+SYRSHWXV ´ YRKIV
0MRHIREPPII ´
1I]IVFIIVWXV
1YX^MKIV 7XV ´ E
;,+
&IRJIPHIV 7XV ´
+SYRSHWXV ´ YRKIV
1I]IVFIIVWXV
1YX^MKIV 7XV ´
;,+
&IRJIPHIV 7XV ´
+SYRSHWXV
1I]IVFIIVWXV
;,+
*EPOIRFIVKIV 7XV
+EVXIRWXV ´ E
`

`
'LEVPSXXI8VIJJ ´ * VIMRERHIV %OXMZ
9Q HEW KIRSWWIRWGLEJXPMGLI 0IFIR YRH QMXIMRER
HIV ;SLRIR ^Y J~VHIVR KMFX IW FIM HIV 'LEVPSXXIR
FYVKIV &EYKIRSWWIRWGLEJX I+ QMXXPIV[IMPI WIGLW
'LEVPSXXI8VIJJW
7MI [IVHIR MR YRWIVIR 'LEVPSXXI8VIJJW IV[EVXIX
6IMRMGOIRHSVJ
%RWTVIGLTEVXRIV *V 7EYV *V 1nWGLP
7GLEVR[IFIVWXV &IVPMR
1IPPIV &SKIR &IVPMR
7TERHEY
%RWTVIGLTEVXRIV *V 7XIYIV
;ERWHSVJIV 7XIMK &IVPMR
*VIYHIRFIVKIV ;IK &IVPMR
'LEVPSXXIRFYVK 2SVH 7MIQIRWWXEHX
%RWGLVIGLTEVXRIV *V 7XIYIV
;EXXWXV &IVPMR
;IM IRWII
%RWTVIGLTEVXRIV *V 7EYV *V 1nWGLP
1I]IVFIIVWXV 1YX^MKIV 7XV &IVPMR
8IPIJSR
,MIV WMRH 1MXKPMIHIV J VIMRERHIV YRH QMXIMRERHIV
EOXMZ
.IHIW 1MXKPMIH MWX LIV^PMGL [MPPOSQQIR
8IPIJSRRYQQIV HIV %RWTVIGLTEVXRIV
*V 7XIYIV 8IP
*V 7EYV *V 1nWGLP 8IP
(MI 6nYQPMGLOIMXIR WXILIR EPPIR 1MXKPMIHIVR J V
KIQIMRWEQI %OXMZMXnXIR [MI ^ & 7IRMSVIR 'EJr
4' /YVWI 7GLYPEVFIMXWLMPJI )PXIVR /MRH +VYTTI
:SVXVnKI IXG ^YV :IVJ KYRK

-QTVIWWYQ
%YJXVEKKIFIV -RLEPX 8I\X
'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
(VIWWIPWXVE I &IVPMR
8IP
*E\
QEMP$GLEVPSXXI FEY HI
[[[ GLEVPSXXI FEY HI
+IWEQXIVWXIPPYRK
(VYGOIVIM ,IVQERR 7GLPIWIRIV /+
9PPWXIMRWXVE I &IVPMR
[[[ WGLPIWIRIV HI
&MPHUYIPPIR
8MXIPWIMXI ;ERWHSVJIV 4PEX^ § 6+* 6 +VYRIRFIVK
1IPPIV &SKIR ;,+ § ¹'LEVPSXXI©
&EYEFWGLPYWWJIWX 1IPPIV &SKIR § ¹'LEVPSXXI©
&EPOSRERFEY ;,+ § ¹'LEVPSXXI©
6IRSZMIVXI 8VITTIRLnYWIV § ¹'LEVPSXXI©
;,+ ,SJJEWWEHI § ¹'LEVPSXXI©
:IVPIMLYRK HIV )LVIRREHIP § ¹'LEVPSXXI©
7 .ELVI 'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
§ ¹'LEVPSXXI©
7OEXXYVRMIV § ¹'LEVPSXXI©
7 'LEVPSXXI8VIJJW § ¹'LEVPSXXI©
&MPHPEYJPIMWXI § 1EXXLMEW 1EVXMR
`

'LEVPSXXIRFYVKIV &EYKIRSWWIRWGLEJX I+
(VIWWIPWXVE I &IVPMR 8IP *E\
QEMP$GLEVPSXXI FEY HI [[[ GLEVPSXXI FEY HI