LQIRUPDomR WpFQLFR FRPHUFLDO
/378%0 GSQS MHIRXM½GEV E JEPLE HE QMRLE MRWXEPEpnS JSXSZSPXEMGE# 2V LQYHUVRUHV 3,.2 GD .267$/ 6RODU (OHFWULF IDFLOLWDP D ORFDOL]DomR GH SRVVtYHLV IDOKDV QD LQVWDODomR JUDoDV j PRQLWRUL]DomR FRPSOHWD SRU 7XVMRK H OHLWXUDV GH LUUDGLDomR H WHPSHUDWXUD 'EVPSW 7IPPEW )RKIRLIMVS -RHYWXVMEP /378%0 7SPEV )PIGXVMG -FqVMGE 7 0
3 MRZIVWSV JYRGMSRE GSVVIGXEQIRXI# )\MWXI EPKYQ HIJIMXS RYQE WqVMI HI QzHYPSW# ,EFMXYEP QIRXI HIXIGXE WI YQE ERSQEPME RYQE MRWXEPEpnS ES SFWIVZEV UYI E PIMXYVE HI TVSHYpnS RnS GSMRGMHI GSQ E UYI IWXMQEQSW SFXIV %PKYQEW ZI^IW S TVSFPIQE q QEMW IZMHIRXI ES HIXIGXEV UYI E TVSHYpnS HI YQ MRZIVWSV q RSXEZIPQIRXI QIRSV HS UYI E HI SYXVS TVz\MQS 4IVERXI IWXE WMXYEpnS HIZIQSW EREPMWEV S TVSFPIQE I HEV YQE WSPYpnS VjTMHE TEVE IZMXEV QEMSVIW TIVHEW HI TVSHYpnS 4EVE IWXI ½Q q JYRHEQIRXEP EGIHIV E YQ WMWXIQE HI QSRMXSVM^EpnS UYI TIVQMXE EFSVHEV S TVSFPIQE HIWHI YQE ZMWnS KIVEP EXq IRGSRXVEV E SVMKIQ HE JEPLE
(EXEPSKKIV HI WqVMI MRXIKVEHS 3W MRZIVWSVIW 4-/3 EVQE^IREQ EXq QIWIW SY YQ ERS GSRJSVQI E VIWSPYpnS IWGSPLMHE SW HEHSW TSVQIRSVM^EHSW HE TVSHYpnS JSXSZSPXEMGE I EW MRGMHsRGMEW -WXS TIVQMXI XIV YQE FEWI HI HEHSW ½jZIP TEVE E WYE ERjPMWI TSWXIVMSV 7I YWEVQSW EPKYQE JIVVEQIRXE HI QSRMXSVM^EpnS GSQS S 4-/3 1EWXIV 'SRXVSP 41' SY S 4-/3 7SPEV 4SVXEP Nj RnS XIVIQSW UYEPUYIV PMQMXI XIQTSVEP HI EVQE^IREQIRXS
4-/3 1EWXIV 'SRXVSP 41' 3 41' QSWXVE SW HEHSW HI TVSHYpnS IQ XIQTS VIEP 8SHSW SW MRZIVWSVIW 4-/3 XsQ IRXVEHEW MRHITIRHIRXIW GSQ SW WIYW WIKYM HSVIW HI 414 GSVVIWTSRHIRXIW -WXS XSVRE TSWWuZIP QSRMXSVM^EV MRHITIRHIRXIQIRXI SW ZEPSVIW 4 : - HI GEHE 7XVMRK 4SHIQSW EGI HIV ESW HEHSW HI JYRGMSREQIRXS HI GEHE MRZIVWSV JE^IRHS YQ WMQTPIW GPMUYI RE FEVVE GSVVIWTSRHIRXI 2S GEQTS HE HMVIMXE ETE VIGIQ SW HEHSW IQ UYIWXnS *MKYVE 3W MRZIVWSVIW TSHIQ WIV MHIRXM½GEHSW EXVEZqW HS WIY IRHIVIpS -4 SY EXVMFYMRHS PLIW YQ RSQI GSRGVIXS % WYE HIWGEVKE q KVEXYMXE E TEVXMV HE TjKMRE HE -RXIVRIX HE /378%0 7SPEV )PIGXVMG
7IRWSV 4-/3 3 WIRWSV 4-/3 GSRWMWXI RYQ WIRWSV GSQ FMREHS HI MVVEHMEpnS XIQTIVEXYVE EQFMIRXI I XIQTIVEXYVE HI QzHYPS 0MKE WI HMVIG XEQIRXI ES GEVXnS HI GSQYRMGEp~IW HS MRZIVWSV 4-/3 HS UYEP VIGIFI E XIRWnS HI
*MKYVE 1SRMXSVM^EpnS VIQSXE HI MRWXEPEpnS GSQ 41' 4-/3
96
*MKYVE 7IRWSV 4-/3
LQIRUPDomR WpFQLFR FRPHUFLDO
/378%0 '313 -()28-*-'%6 % *%0,% (% 1-2,% -278%0%e«3 *383:308%-'%#
8SHSW SW QSHIPSW TEVXMPLEQ HE QIWQE ½PS WS½E HI TVSHYXS
*MKYVE 1SRMXSVM^EpnS VIQSXE HI MRWXEPEpnS GSQ 41' 4-/3
% QIWQE VIHI HI MRZIVWSVIW TSHI GSR½KYVEV WI TEVE IRZMEV HEHSW TEVE S 4-/3 7SPEV 4SVXEP WI IWXMZIVIQ PMKEHSW E YQ VSYXIV 2S GEWS HI RnS I\MWXMV PMKEpnS k -RXIVRIX RE MRWXEPEpnS q TSW WuZIP E PMKEpnS ES TSVXEP HE -RXIVRIX EXVEZqW HI YQ 1SHIQ +71 7z q RIGIWWjVMS YQ 1SHIQ TEVE IRZMEV HEHSW HI EXq MRZIVWSVIW 4-/3
6IHI 0%2 %(70 4'
1SHIQ +71 LEWX
7IRWSV 4-/3 %PEVQIW ) 7 HI TYPWSW
(MWTPE] I\XIVRS SYXVSW
*MKYVE 1SRMXSVM^EpnS VIQSXE HI MRWXEPEpnS GSQ 41' 4-/3
3W MRZIVWSVIW 4-/3 3W MRZIVWSVIW 4-/3 HE /378%0 7SPEV )PIGXVMG SJIVIGIQ YQE MRXIVIWWERXI KEQE HI MRZIVWSVIW HI PMKEpnS k VIHI QSRSJjWMGSW I XVMJjWMGSW 7LSR
3 1RPLQDO :
1 303
4-/3
0RQRIiVLFR
4-/3
0RQRIiVLFR
4-/3
7ULIiVLFR
4-/3
7ULIiVLFR
4-/3
7ULIiVLFR
4-/3
7ULIiVLFR
0RGHOR
98
'SQTEGXSW I PIZIW 3W MRZIVWSVIW 4-/3 WIQ XVERWJSVQEHSV WnS GSQTEXuZIMW GSQ EW RSVQEW EGXYEMW HI MRWXEPEp~IW IQ &8 3 4-/3 Wz TIWE OK :EWXE KEQE HI IRXVEHE ? : :A 4IVQMXI YQE KVERHI ¾I\MFMPMHEHI RS HM QIRWMSREQIRXS HE MRWXEPEpnS )RXVEHEW GSQ 414 MRHITIRHIRXIW 3TXMQM^E E TVSHYpnS WSFVIXYHS IQ GEQ TSW GSQ HMJIVIRXI SVMIRXEpnS SY GSQ WSQFVEW 4IVQMXI E PMKEpnS HI 7XVMRKW HI GSQTVMQIRXSW HMJIVIRXIW IQ GEHE IRXVE HE 3JIVIGI XEQFqQ E STpnS HI PMKEpnS IQ TEVEPIPS TEVE EYQIRXEV E GSVVIRXI HI IRXVEHE (EXEPSKKIV HI WqVMI 4-/3 7SPEV 4SVXEP I 41' KVEXYMXSW 3 MRZIVWSV 4-/3 q YQ WMWXIQE uRXIKVS HI QSRMXSVM^EpnS UYI RnS RIGIWWMXE HE EUYM WMpnS HI UYEPUYIV GSQTSRIRXI EHMGMSREP
% IQTVIWE 3 +VYTS /378%0 q YQE IQTVIWE JEQMPMEV MRHITIRHIRXI IWTIGMEPM^EHE RS HIWIRZSPZM QIRXS HI WSPYp~IW IPIGXVzRMGEW I QIGEXVz RMGEW HI TVMQIMVE PMRLE TEVE YQE ZEWXE KEQE HI ETPMGEG~IW MRHYWXVMEMW % IQTVIWE JSM JYRHEHE IQ TSV 0ISTSPH /SWXEP 'SQS IQTVIWE HI KIVsRGME JEQMPMEV E /378%0 IQTVIKE LSNI QEMW HI GSPEFSVEHSVIW IQ PSGEMW I TEuWIW HM JIVIRXIW 3W MRZIVWSVIW QYPXM WXVMRK 4-/3 HIWIRZSPZM HSW TIPE /378%0 SJIVIGIQ YQE ZEWXE KEQE HI JYRp~IW TEVE GEHE WMWXIQE *: 'EHE MR ZIVWSV 4-/3 q YQ TVSHYXS HI UYEPMHEHI JEFVMGEHS RE )YVSTE I HIRXVS HS +VYTS /378%0 I JSM WYFQIXMHS kW QIWQEW RSV QEW HI UYEPMHEHI IWXVMXEW UYI SW TVSHYXSW HE HMZMWnS /378%0 %YXSQSXMZI
/378%0 7SPEV )PIGXVMG -FqVMGE 7 0 8IP *E\ [[[ OSWXEP WSPEV IPIGXVMG GSQ
*MKYVE 4-/3 /378%0 MRZIVWSV XVMJjWMGS