Norma para la gestión de los ressiduos de aparatos eléctricos y electónicos ( RAEE )

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OFICINA PRESIDENCIAL DE TECNOLOGÍAS DE LA INFORMACIÓN Y COMUNICACIÓN

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NORTIC A8:2019 Norma para la Gestión de los Residuos de los Aparatos Eléctricos y Electrónicos (RAEE) en los Organismos del Estado Dominicano Edición: 1ra Oficina Presidencial de Tecnologías de la Información y Comunicación (OPTIC) Departamento de Estandarización, Normativas y Auditoría Técnica Ministerio de Medio Ambiente y Recursos Naturales Dirección de Regulaciones e Investigaciones Ambientales Dirección General de Contrataciones Públicas (DGCP) Departamento de Compras Sostenibles Dirección General de Bienes Nacionales Dirección de Inventarios Fecha de aprobación: Enero de 2018 Fecha de lanzamiento: Enero 2019 Categoría: A Serie de documento: 8 Año de publicación: 2019 Versión 1.0 Impreso en República Dominicana


NORTIC A8:2019

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José Alejandro Aybar, MA Rector de UNICARIBE

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ix


NORTIC A8:2019

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x

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NORTIC A8:2019

"),,3REM<;N:;OE3A?3C<?N080a:90B;3U3C<9098:X<'32<O0O:A3N:8<A39EME3 8:3 80M0N:90B;3 O<83 ?AE3 O<3 A?AN:;90:A3 D<80YCEA:A3 <;3 8EA3 ),,]3 D:C:3 9E;NC0@?0C3:38:3(:8EC0a:90B;3 E8F3U3<R090<;N<3<80M0;:90B;3O<38EA3"),,h3 O0ANC0@?90B;3O<3E@80Y:90E;<A3:3NEOEA38EA3:9NEC<A3O<38:39:O<;:3O<38EA3 ),,3 U3 A?A3 C<A0O?EA]3 @:A:OE3 <;3 <83 9E;9<DNE3 O<3 8:3 "<ADE;A:@080O:O3 ,1N<;O0O:3O<83!CEO?9NEC3E:F3[",!\h3U38:3Y<;<C:90B;3O<30;9<;N0(EA3D:C:3 G?<38EA3DCEO?9NEC<A3O<3),,3R:@C0G?<;3:D:C:NEA39:O:3(<a3M_A3R_908<A3 O<3 C<9098:C]3 C<?N080a:C]3 80@C<A3 O<3 A?AN:;90:A3 NB109:A3 U3 9E;3 ?;:3 M:UEC3 O?C:@080O:O' ,;3<839E;N<1NE3;:90E;:8]3"<DV@809:3.EM0;09:;:3;E3<A3:X<;:3:3<AN<3 N0DE3O<3A0N?:90E;<A]3<AN:OSAN09:A3U3DCE@8<M_N09:Ah3DEC3<AN:3C:aB;39E;3 <83<AR?<CaE]3:DEUE3U3(E8?;N:O3O<3ECY:;0AMEA3O<3,AN:OE3A<3Z:30;090:OE3 ?;3NC:@:XE3O0C<990E;:OE3:30MD8<M<;N:C3<AN_;O:C<A3:M@0<;N:8<A3D:C:3 Y<AN0E;:C3:O<9?:O:M<;N<38EA3"),,3Y<;<C:OEA3DEC3<83A<9NEC3DV@809Eh3 C<AD<N:;OE3 U3 (0;9?8:;OE3 8EA3 80;<:M0<;NEA3 O<3 ;ECM:A3 <AN:@8<90O:A3 DC<(0:M<;N<'3 !EC3 <ANE3 8:3 0MD8<M<;N:90B;3 O<3 8:3 DC<A<;N<3 ;ECM:3 A<3 9E;A0O<C:39EME3<83D?;NE3O<3D:CN0O:3Z:90:3?;39:M@0E3O<3Z_@0NEA3O<3 9E;A?ME]3D:C:O0YM:A3C<8:90E;:OEA39E;3<83M:;<XE3O<3C<A0O?EA3U3?;:3 C<;E(:90B;3<30;;E(:90B;3N<9;E8BY09:3D:C:3<83NC:N:M0<;NE3 EGF30;3A0N?3 O<38EA3"),,'

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xi



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xiii


NORTIC A8:2019

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xiv

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NORTIC A8:2019

U3 ENC:A3 M:N<C0:A]3 G?<3 DEC3 A?3 ;:N?C:8<a:3 O<3 :8NE3 C0<AYE3 D?<O:;3DCE(E9:C3O:cEA3:38:3A:8?O3O<3A<C<A3Z?M:;EA]3:83 M<O0E3:M@0<;N<3U3:38EA3C<9?CAEA3;:N?C:8<A]3A<C_;3C<Y?8:OEA3 DEC38:3/<9C<N:CS:3O<3,AN:OE3[:ZEC:f320;0AN<C0E\3O<32<O0E3 )M@0<;N<3U3"<9?CAEA3*:N?C:8<A' X& %YKZNMRH&?]G7[&$EA3M<N:8<A]3:CNS9?8EA3U3A?AN:;90:A3C:O0:9N0(:A3 E3D<80YCEA:A3U3A?A3O<A<9ZEA]3:AS39EME38EA3:D:C:NEA3U3<G?0DEA3 G?<3?N0809<;3N:8<A3M:N<C0:A]3A<C_;3DCE9<A:OEA]3M:;<X:OEA]3 DEA<SOEA]3 0MDECN:OEA]3 <1DECN:OEA]3 NC:;ADECN:OEA]3 O<DEA0N:OEA]3 ?N080a:OEA]3 O<A<9Z:OEA]3 E3 O0AD?<ANEA3 O<3 :9?<COE39E;38:A3;ECM:A3U3C<Y8:M<;N:90E;<A3G?<3RECM?8<3 8:3 /<9C<N:CS:3 O<3 ,AN:OE3 [:ZEC:f3 20;0AN<C0E\3 O<3 2<O0E3 )M@0<;N<3U3"<9?CAEA3*:N?C:8<A' X& %YKZNMRH& ?]^7[& ,;3 NEO:A3 8:A3 0;AN0N?90E;<A3 DV@809:A3 A<3 0MD8:;N:C_;3 A0AN<M:A3 O<3 98:A0R09:90B;3 O<3 8EA3 O<A<9ZEA3 AB80OEA]3DC<(0E3:3A?3<;(SE3:38EA3A0N0EA3O<3O0ADEA090B;3R0;:8' K'3 $:3(Q\&<:[?D'3!CEM?8Y:O:3:38EA3=T3OS:A3O<83M<A3O<3R<@C<CE3O<83 :cE3 =76I]3 8:3 9?:83 <A3 <83 "<Y8:M<;NE3O<3 2E(080O:O]3+C:;ADECN<3 +<CC<ANC<]3+C_;A0NE3U3/<Y?C0O:O3i0:83O<38:3"<DV@809:3.EM0;09:;:3 *VM'367PI>]3<;3<839?:83A<3<AN:@8<9<38E3A0Y?0<;N<f3 X& %YKZNMRH& ;7[& )NC0@?90E;<A'3 ,83 4*+")*+3 N<;OC_3 8:A3 :NC0@?90E;<A3 A0Y?0<;N<Af3 ,AN:@8<9<C3 8EA3 C<G?0A0NEA3 9E;3 8EA3 9?:8<A3O<@<C_39?MD80C3<83NC:;ADECN<3O<39:CY:]30;98?U<;OE3<83 NC:;ADECN<3O<39:CY:A3<AD<90:8<A3U3O<3:8NE3C0<AYE]3O<3:9?<COE3 :38:3;:N?C:8<a:3O<38:A3M0AM:A3U38:A3AE@C<O0M<;A0E;<A3O<3 8EA3(<ZS9?8EA' X& %YKZNMRH&?]<7[&"<Y0ANCE3;:90E;:83O<3(<ZS9?8EA3D:C:3ED<C:C3<83 A<C(090E3O<3NC:;ADECN<3O<39:CY:A'3$:3DC<AN:90B;3O<83A<C(090E3 O<3NC:;ADECN<3O<39:CY:A3U38:A3:9N0(0O:O<A39E;<1:A3DEOC_;3 A<C3C<:80a:O:A3DEC3D<CAE;:A3RSA09:A3E3X?CSO09:A]3ECY:;0a:O:A3 U3C<Y0ANC:O:A3O<39E;RECM0O:O39E;3<AN:38<U'3,83NC:;ADECN<3O<3

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xv


NORTIC A8:2019

9:CY:A3A<C_3C<Y?8:OE3U3R0A9:80a:OE3DEC3<834*+")*+3U38EA3 :U?;N:M0<;NEA3<;3A?3X?C0AO0990B;'3 X& %YKZNMRH& ??^7[& -E;NCE83 O<83 NC:;ADECN<3 O<3 9:CY:A3 O<3 :8NE3 C0<AYE'3,83NC:;ADECN<3O<39:CY:A3O<3:8NE3C0<AYE3A<3C<:80a:C_3 O<39E;RECM0O:O39E;38E3G?<3O<N<CM0;<3<834*+")*+]3<;3 9EECO0;:90B;39E;38EA3M0;0AN<C0EA39ECC<ADE;O0<;N<A]3U3<;3 (<ZS9?8EA39E;ANC?0OEA3A<YV;3<83E@X<NE3G?<3NC:;ADECN<;' X& %YKZNMRH& ??;7[& !C<AN:90B;3 O<83 A<C(090E3 O<3 NC:;ADECN<3 O<3 9:CY:A3O<3:8NE3C0<AYE'3,83A<C(090E3O<3NC:;ADECN<3O<39:CY:A3 O<3:8NE3C0<AYE3A<C_3ED<C:OE3O0C<9N:M<;N<3DEC3<83,AN:OE]3:3 NC:(HA3O<3A?A3BCY:;EA39EMD<N<;N<A3E3DEC3D<CAE;:A3RSA09:A3E3 X?CSO09:A]3:?NEC0a:O:A3DEC3<834*+")*+]3O<39E;RECM0O:O3 9E;38:A3O0ADEA090E;<A39E;N<;0O:A3<;38:3DC<A<;N<38<U3U3A?A3 C<Y8:M<;NEA' T'3 $:3 (Q\& :G][]<'3 !CEM?8Y:O:3 :3 8EA3 6P3 OS:A3 O<83 M<A3 O<3 :YEANE3 O<83 :cE3 =77F]3 /E@C<3 -EMDC:A3 U3 -E;NC:N:90E;<A3 O<3 W0<;<A]3 /<C(090EA]3 %@C:A3 U3 -E;9<A0E;<A]3 <;3 <83 9?:83 A<3 <AN:@8<9<3 8E3 A0Y?0<;N<f X& %YKZNMRH&D7&[&$:A3D<CAE;:A3;:N?C:8<A3E3X?CSO09:A30;N<C<A:O:A3 <;3 D:CN090D:C3 <;3 9?:8G?0<C3 DCE9<AE3 O<3 9EMDC:3 E3 9E;NC:N:90B;3 O<@<C_;3 <AN:C3 0;A9C0N:A3 <;3 <83 "<Y0ANCE3 O<3 !CE(<<OEC<A3O<83,AN:OE]3E39E;X?;N:M<;N<39E;38:3<;NC<Y:3 O<3ER<CN:A3O<@<C_;3DC<A<;N:C3A?3AE8090N?O3O<30;A9C0D90B;' >'3 $:3(Q\&G^^[]^'3!CEM?8Y:O:3:38EA3K73OS:A3O<83M<A3O<3O090<M@C<3 O<83 :cE3 =77P]3 G?<3 <AN:@8<9<3 ?;3 "HY0M<;3 "<Y?8:NEC0E3 D:C:3 <83 .<A:CCE88E3U3-EMD<N0N0(0O:O3O<38:A3209CE]3!<G?<c:A3U32<O0:;:A3 ,MDC<A:A3[24!j2,/\'3 X& %YKZNMRH& ?]7& J3 ,;3 NEOEA3 8EA3 DCE9<AEA3 O<3 9EMDC:A3 U3 9E;NC:N:90E;<A3O<3@0<;<A]3A<C(090EA3U3E@C:A]3G?<3C<:809<;3 8:A3 <;N0O:O<A3 9E;NC:N:;N<A3 A<3 O<@<C_;3 C<AD<N:C3 8EA3 80;<:M0<;NEA3 U3 DE8SN09:A3 <AN:@8<90OEA3 DEC3 8:3 .0C<990B;3 &<;<C:83 O<3 -E;NC:N:90E;<A3 !V@809:A3 D:C:3 :A<Y?C:C3 8:3

xvi

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

D:CN090D:90B;3O<38:A324!j2,/]39E;RECM<3O0ADE;<38:3$<U3 *E'3 TPPJ7P]3 G?<3 <AN:@8<9<3 ?;3 CHY0M<;3 C<Y?8:NEC0E3 D:C:3 <83O<A:CCE88E3U39EMD<N0N0(0O:O3O<38:A3M09CEA]3D<G?<c:A3U3 M<O0:;:A3<MDC<A:A3[24!j2,/\' F'3 $:3 (Q\& ?^:8'3 !CEM?8Y:O:3 :3 8EA3 P3 OS:A3 O<83 M<A3 O<3 ;E(0<M@C<3 O<83 :cE3 6eTP]3 G?<3 0;ANC?U<3 8:3 .0C<990B;3 &<;<C:83 O<3 W0<;<A3 *:90E;:8<A]3<;38:39?:83A<3<AN:@8<9<38E3A0Y?0<;N<f X& %YKZNMRH&?G7[&/<C_3O<@<C3O<83.0C<9NEC3&<;<C:83O<3W0<;<A3 *:90E;:8<A]3 (<8:C3 DEC3 8:3 9E;A<C(:90B;3 O<3 8EA3 @0<;<A3 M?<@8<A3O<83,AN:OE]3RECM:C3U3M:;N<;<C3:83OS:3<830;(<;N:C0E3 O<3O09ZEA3@0<;<A]39E;38:A3<19<D90E;<A3G?<3O<N<CM0;<;38EA3 C<Y8:M<;NEA3U3DCE9<O<C3:3A?3(<;N:39?:;OE3A<:3D<CN0;<;N<]3 <;38:3RECM:3G?<3DC<A9C0@<;38EA3C<Y8:M<;NEA'3!:C:3<AN<3R0;]3 NEO:3ER090;:3DV@809:3O<@<C_3C<;O0C3?;30;(<;N:C0E3O<3O09ZEA3 @0<;<A3O<;NCE3O<83M<A3O<3<;<CE3O<39:O:3:cE3<;38:3RECM:3 G?<3<AN:@8<a9:;38EA3C<Y8:M<;NEA' I'3 ,83/QNYQKH&IUW7&9G:[?8]3G?<3<AN:@8<9<3<83"<Y8:M<;NE3O<38:3$<U3 AE@C<3 -EMDC:A3 U3 -E;NC:N:90E;<A3 O<3 W0<;<A]3 /<C(090EA]3 %@C:A3 U3-E;9<A0E;<A3DCEM?8Y:OE3:38EA3K73OS:A3O<83M<A3O<3:YEANE3O<83 :cE3=77I'3&'3%'3*E'367FeT3O<836>3O<3A<DN0<M@C<3O<3=76=' P'3 ,83 /QNYQKH& IUW7& D];[]D'3 !CEM?8Y:OE3 :3 8EA3 =F3 OS:A3 O<83 M<A3 O<3 O090<M@C<3 O<83 :cE3 =77I]3 <A3 <83 .<9C<NE3 AE@C<3 *ECM:A3 U3 ,AN_;O:C<A3+<9;E8BY09EA]3<;3<839?:83A<3<AN:@8<9<38E3A0Y?0<;N<f X& %YKZNMRH&?7[3/<30;ANC?U<3:3NEO:38:3)OM0;0ANC:90B;3!V@809:3 O<83,AN:OE3OEM0;09:;E3:39?MD80C39E;38:A3;ECM:A3U38EA3 <AN_;O:C<A3N<9;E8BY09EA3D:C:f3[0\3<83O<A:CCE88E3O<3DECN:8<A3 Y?@<C;:M<;N:8<A]3 [00\3 9E;<9N0(0O:O3 0;N<C0;AN0N?90E;:8]3 [000\3 0;N<CED<C:@080O:O3 N<9;E8BY09:]3 [0(\3 O<3 A<Y?C0O:O]3 :?O0NEC0:3 <3 0;N<YC0O:O3 <8<9NCB;09:]3 [(\3 O0Y0N:80a:90B;3 O<3 OE9?M<;NEAh3 :AS3 9EME3 9?:8G?0<C3 ENC:3 ;ECM:N0(:3 G?<3 A<:3 C<O:9N:O:]3 :DCE@:O:3 U3 9EECO0;:O:3 DEC3 8:3 %R090;:3!C<A0O<;90:83O<3+<9;E8EYS:A3O<38:34;RECM:90B;3

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

xvii


NORTIC A8:2019

U3 -EM?;09:90B;3 [%!+4-\]3 <;3 M:N<C0:3 O<3 +<9;E8EYS:3 O<38:34;RECM:90B;3U3-EM?;09:90B;3[+4-\3U3&E@0<C;E3 ,8<9NCB;09E' e'3 ,83/QNYQKH&IUW7&?];][]G'3!CEM?8Y:OE3:38EA37K3OS:A3O<83M<A3O<3 A<DN0<M@C<3O<83:cE3=77T]3G?<39C<:38:3%R090;:3!C<A0O<;90:83O<3 +<9;E8EYS:A3O<38:34;RECM:90B;3U3-EM?;09:90B;]3<;3<839?:83A<3 <AN:@8<9<38E3A0Y?0<;N<f X& %YKZNMRH& :7[& /<C_;3 R?;90E;<A3 O<3 8:3 %R090;:3 !C<A0O<;90:83 O<3+<9;E8EYS:A3O<34;RECM:90B;3U3-EM?;09:90B;]3O0A<c:C]3 DCEDE;<C3U3O<R0;0C38:A3DE8SN09:A]3<AN:@8<9<C38EA380;<:M0<;NEA3 U3 <8:@EC:C3 8:A3 <ANC:N<Y0:A]3 D8:;<A3 O<3 :990B;3 U3 DCEYC:M:A3 D:C:3 DCEME(<C]3 O<A:CCE88:C3 U3 Y:C:;N0a:C3 M:UEC3 :99<AE]3 9E;<9N0(0O:O3<30MD8:;N:90B;3O<3;?<(:A3N<9;E8EYS:A3O<38:3 0;RECM:90B;3U39EM?;09:90B;39E;3<83R0;3O<3REM<;N:C3A?3?AE3 9EME3AEDECN<3O<839C<90M0<;NE3<9E;BM09E3U39EMD<N0N0(0O:O3 Z:90:3 8:3 /E90<O:O3 O<3 8:3 4;RECM:90B;]3 Y<AN0E;:;OE3 8EA3 DCEU<9NEA3 9E;RECM<3 :3 N:8<A3 O0C<9NC09<Ah3 U3 G?<3 Y:C:;N09<;3 <83 :99<AE3 <G?0N:N0(E3 :3 8EA3 M<C9:OEA3 :83 A<9NEC3 DCEO?9N0(E3 9EME3<AR?<CaE3D:C:38:3DE8SN09:3O<3Y<;<C:90B;3O<3<MD8<E]3 D:C:3M<XEC:C38:39:80O:O3O<3(0O:]39C<:C3EDECN?;0O:O<A3O<3 <O?9:90B;]3NC:@:XE]3X?AN090:]39?8N?C:3U3C<9C<:90B;]3U3ENCEA'3 X& %YKZNMRH& G7[3 $:3 %R090;:3 !C<A0O<;90:83 O<3 +<9;E8EYS:A3 O<3 4;RECM:90B;3 U3 -EM?;09:90B;3 N<;OC_]3 <;NC<3 ENC:A]3 8:A3 R?;90E;<A3<;3<83M:C9E3O<38:3/E90<O:O3O<38:34;RECM:90B;3 O<f3:A<AEC:C]3C<:80a:C38:3D8:;0R09:90B;3<ANC:NHY09:h3RECM?8:C]3 Y<AN0E;:C]3 <X<9?N:C3 U3 <(:8?:C3 DCEU<9NEA3 O<3 +<9;E8EYS:A3 O<3 4;RECM:90B;3 U3 9EM?;09:90B;3 [+4-\3 <;3 8:A3 O0AN0;N:A3 0;AN0N?90E;<A3O<3YE@0<C;E]3:AS39EME]3DCED090:C3U3:DEU:C38:3 9C<:90B;3O<3C<O<A3O<39EED<C:90B;3<;NC<3<83A<9NEC3DV@809E]3 DC0(:OE3U3AE90<O:O390(083D:C:3R:9080N:C3U3EDN0M0a:C38:3Y<AN0B;3 O<3 8EA3 ECY:;0AMEA3 Y?@<C;:M<;N:8<A3 U3 8:3 9E;NC:N:90B;3 :OM0;0ANC:N0(:'3 +:M@0H;3 C<:80a:C3 0;(<AN0Y:90E;<A3 U3 <AN?O0EA]3DCEME(<C38:3NC:;AR<C<;90:3O<39E;E90M0<;NEA]3O<3 0;RECM:90B;3U3O<3;?<(:A3N<9;E8EYS:A3:38:3AE90<O:O3U3:38:3

xviii

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

9EM?;0O:O3<MDC<A:C0:8h39EM?;09:C3U3O0R?;O0C3<83?AE3O<3 8:A3+<9;E8EYS:A3O<38:34;RECM:90B;3U3-EM?;09:90B;3[+4-\3 <;38:3AE90<O:O3OEM0;09:;:' 67'3 $:3#QJHRMNLOI&]8[8]]<7&!CEM?8Y:O:3 :38EA3>3OS:A3O<83M<A3O<3 <;<CE3O<83:cE3=77F]38:39?:83<A3<83"<Y8:M<;NE3D:C:38:3&<AN0B;3 O<3/?AN:;90:A3U3.<A<9ZEA3k?SM09EA3!<80YCEAEA3<;38:3"<DV@809:3 .EM0;09:;:]3<;3<839?:83A<3<AN:@8<9<38E3A0Y?0<;N<f X& %YKZNMRH7&G7[3+EO:3D<CAE;:3E3<;N0O:O3X?CSO09:3G?<3O<A<<3 C<:80a:C3 9?:8G?0<C3 :9N0(0O:O3 G?<3 0;(E8?9C<3 8:3 Y<AN0B;]3 E3 D:CN<3O<3<AN:]3A?AN:;90:A]3M:N<C0:8<A3E3C<A0O?EA3D<80YCEAEAE8F3 O<@<C_3 C<Y0ANC:CA<3 U3 E@N<;<C3 ?;:3 809<;90:3 E3 D<CM0AE3 O<3 <AN:3 /<9C<N:CS:3 O<3 ,AN:OE3 [:ZEC:f3 20;0AN<C0E\3 O<3 2<O0E3 )M@0<;N<3U3"<9?CAEA3*:N?C:8<A' X& %YKZNMRH& <7[3 $:3 /<9C<N:C0:3 O<3 ,AN:OE3 [:ZEC:f3 20;0AN<C0E\3 O<3 2<O0E3 )M@0<;N<3 U3 "<9?CAEA3 *:N?C:8<A3 <AN:@8<9<C_3 U3 M:;N<;OC_3 :9N?:80a:OE3 ?;3 A0AN<M:3 O<3 C<Y0ANCEA3 G?<3 9E;N<;Y:30;RECM:90B;3O<N:88:O:3:9<C9:3O<38:3DCE9<O<;90:3 O<38:A3A?AN:;90:A]3DCEO?9NEA]3M:N<C0:8<A3E3C<A0O?EA3[A<YV;3 DCE9<O:\3 U3 O<3 8:3 Y<AN0B;3 O<3 8EA3 M0AMEA3 N:8<A3 9EME3 ?AE]3 M:;0D?8:90B;]3 NC:N:M0<;NEA3 E3 :9E;O090E;:M0<;NEA]3 :8M:9<;:M0<;NE]3 NC:;ADECN<]3 A<YV;3 9ECC<ADE;O:'3 )AS3 N:M@0H;3 O<@<C_;3 M:;N<;<CA<3 :9N?:80a:OEA3 <83 0;(<;N:C0E3 O<3 8EA3 C<A0O?EA3 C<90@0OEA3 E3 Y<;<C:OEA]3 C<9098:OEA]3 U3 DCE9<A:OEA3D:C:3O0ADEA090B;3R0;:8]3O<3M:;<C:3G?<3D?<O:;3 A<C3C:ANC<:OEA'

!?#

'.'+/5-2/'$1.*$93*'*5+/5$&$9.*,/5$93*'*5+/3$9*02;3&$9/3/$0/$<2,/$&$'/0.,$,*$0&'$&3;/52'8&'$ <2<&'$-./5,&$'*$02(*3/5$/0$8*,2&$/8(2*5+*6$&$'2$'*$8/529.0/5$25-&33*-+/8*5+*$,*(2,&$/$

0&'$3*-.3'&'$5/+.3/0*'$&$*0$*1.202(32&$*-&0:;2-&> !"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

xix


NORTIC A8:2019

X& %YKZNMRH& D7[& +EOE3 Y<;<C:OEC3 E:F3 E3 A?@9E;NC:N0AN:3 G?<3 0MDECN<3 A?AN:;90:A3 E3 M:N<C0:8<A3 D<80YCEAEA3 D:C:3 A?3 C<:DCE(<9Z:M0<;NE]3 C<9098:X<]3 E3 NC:N:M0<;NE3 O<@<C_3 ;EN0R09:C8E3DC<(0:M<;N<3:38:3/<9C<N:CS:3O<3,AN:OE3[:ZEC:f3 20;0AN<C0E\3 O<3 2<O0E3 )M@0<;N<3 U3 "<9?CAEA3 *:N?C:8<A]3 :;N<A3O<30;YC<A:C3<83M:N<C0:83E38:3A?AN:;90:3:83D:SA' X& %YKZNMRH&<G7[&,83Y<;<C:OEC3DEOC_3NC:N:C38EA3C<A0O?EA]39E;38:3 R0;:80O:O3O<3NC:;ARECM:C8EA3<;3;E3D<80YCEAEA3E3M0;0M0a:C3 A?3DEN<;90:83O<3D<80YCEA0O:O]3N:;NE3O<;NCE3O<38:3<MDC<A:3 9EME39E;NC:N:;OE38EA3A<C(090EA3O<3?;3A?@9E;NC:N0AN:3G?<3 DEA<:3809<;90:3E3D<CM0AE3D:C:3O09ZEA3R0;<A' 66'3 $:3#QJHRMNLOI&IUW7&?G[]]'3!CEM?8Y:O:3:38EA3K73OS:A3O<83M<A3 O<3 M:CaE3 O<83 :cE3 =777]3 G?<3 :DC?<@:3 <83 -E;(<;0E3 O<3 W:A08<:3 AE@C<3 <83 -E;NCE83 O<3 8EA3 2E(0M0<;NEA3 +C:;ARCE;N<C0aEA3 O<3 8EA3 .<A<9ZEA3!<80YCEAEA3U3A?3,80M0;:90B;]3<;3<839?:83A<3<AN:@8<9<38E3 A0Y?0<;N<f l3 5*4-%'3 J3 ")+4m4-)"3 <83 -E;(<;0E3 O<3 W:A08<:]3 AE@C<3 <83 -E;NCE83 O<3 8EA3 2E(0M0<;NEA3 +C:;ARCE;N<C0aEA3 O<3 8EA3 .<A<9ZEA3!<80YCEAEA3U3A?3,80M0;:90B;'3,83E@X<N0(E3O<3<AN<3 -E;(<;0E3<A38EYC:C38:A3M<O0O:A3;<9<A:C0:A3D:C:3DCEN<Y<C3 8:3 A:8?O3 Z?M:;:3 U3 <83 M<O0E3 :M@0<;N<39E;NC:38EA3O:cEA3 E9:A0E;:OEA3 DEC3 <83 M:;<XE3 O<3 O<A<9ZEA3 D<80YCEAEA3 U3 ENCEA3O<A<9ZEA]3NEM:;OE3<;39?<;N:3<83O<C<9ZE3AE@<C:;E3 G?<38<39ECC<ADE;O<3:39:O:3,AN:OE3O<3DCEZ0@0C38:3<;NC:O:3 E3 <80M0;:90B;3 O<3 O<A<9ZEA3 D<80YCEAEA3 U3 ENCEA3 O<A<9ZEA3 :X<;EA3:3A?3N<CC0NEC0E'

!@# -&5'.8&6$*5+3*$&+3&'>

xx

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NORTIC A8:2019

6='3 ,83 #Q_RSWQIKH& IUW7& <?]9'3 /E@C<3 W0<;<A3 *:90E;:8<A'3 !CEM?8Y:OE3:38EA3e3OS:A3O<83M<A3O<3;E(0<M@C<3O<83:cE36eTe]3<83 9?:83<AN:@8<9<38E3A0Y?0<;N<f X& %YKZNMRH& ?7[3 ,A3 :NC0@?90B;3 R?;O:M<;N:83 O<83 .0C<9NEC3 &<;<C:83 O<3 W0<;<A3 *:90E;:8<A]3 8<(:;N:C3 U3 M:;N<;<C3 :83 OS:3 <83 -:N:ANCE3 O<3 8:3 DCED0<O:O3 0;ME@080:C0:3 O<83 ,AN:OE3 U3 <83 O<3 A?A3 ECY:;0AMEA3 :?NB;EMEA'3 ,;3 9E;A<9?<;90:]3 :;EN:C:39E;3<1:9N0N?O3<;38EA380@CEA3O<AN0;:OEA3:83C<Y0ANCE3 O<3O09ZEA30;M?<@8<A]3NEO:A38:A3ED<C:90E;<A3G?<3A<3C<:809<;3 9E;38:A3DCED0<O:O<A30;ME@080:C0:A3O<83,AN:OE3U38:A3O<3A?A3 ECY:;0AMEA3:?NB;EMEA'

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xxi



-!,#"/022-.!& ,;3 <83 :cE3 =76=]3 <83 -E;YC<AE3 *:90E;:83 DCEM?8YB3 8:3 $<U3 6J6=3 G?<3 <AN:@8<9<3 8:3 ,ANC:N<Y0:3 *:90E;:83 O<3 .<A:CCE88E3 [,*.\3 =7K7]3 8:3 9?:83O<9C<N:3<;3A?A3:CNS9?8EA3e3U36738:3;<9<A0O:O3O<3?;:3<9E;EMS:3 AEAN<;0@8<]3 0;N<YC:OEC:]3 9EMD<N0N0(:]3 U3 O<3 ?;:3 AE90<O:O3 O<3 DCEO?990B;3U39E;A?ME3:M@0<;N:8M<;N<3A?AN<;N:@8<3G?<3A<3:O:DN<3:83 9:M@0E3980M_N09E'3,AN:38<U]3N:M@0H;3<AD<90R09:3<;3A?3:CNS9?8E36K3G?<3 ^+EOEA38EA3D8:;<A]3DCEYC:M:A]3DCEU<9NEA3U3DE8SN09:A3DV@809:A3O<@<C_;3 0;9ECDEC:C39C0N<C0EA3O<3AEAN<;0@080O:O3:M@0<;N:83U3:O<9?:O:3Y<AN0B;3 0;N<YC:83O<3C0<AYEA`'3 ,;3 9?MD80M0<;NE3 9E;3 8:3 C<R<C0O:3 8<U3 U3 NEM:;OE3 <;3 9?<;N:3 G?<]3 DEC38E3Y<;<C:8]38:A39EMDC:A3DV@809:A3C<DC<A<;N:;3:DCE10M:O:M<;N<3 ?;3 =73 DEC3 90<;NE3 O<83 !CEO?9NE3 4;N<C;E3 WC?NE3 [!4W\3 U3 G?<3 O<3 <AN<3 DEC9<;N:X<3 8EA3 :D:C:NEA3 <8H9NC09EA3 U3 <8<9NCB;09EA3 C<DC<A<;N:;3 ?;:3 YC:;3D:CN<]39E;(0CN0<;OE38EA3"),,39EME3<83C<A0O?E3?C@:;E3O<3M:UEC3 9C<90M0<;NE3:3;0(<83M?;O0:8]38:3%R090;:3!C<A0O<;90:83O<3+<9;E8EYS:A3 O<3 8:3 4;RECM:90B;3 U3 9EM?;09:90B;3 [%!+4-\3 NEMB3 8:3 0;090:N0(:3 O<3 O<A:CCE88:C3<30MD8<M<;N:C38:3DC<A<;N<3;ECM:3O<83,AN:OE3OEM0;09:;E]3 <AN:@8<90<;OE38EA3MEO<8EA]3O0C<9NC09<A3U3C<9EM<;O:90E;<A3G?<3O<@<3 A<Y?0C3 9:O:3 ECY:;0AME3 Y?@<C;:M<;N:8]3 D:C:3 M0;0M0a:C]3 DC<(<;0C]3 M0N0Y:C3U3AE8?90E;:C38:A3DEA0@8<A3:R<9N:90E;<A3:M@0<;N:8<A3E9:A0E;:O:A3 DEC3<830;:O<9?:OE3M:;<XE3U3?AE3O<38EA3),,3U3A?A3C<A0O?EA' ,83DC0M<C39:DSN?8E39E;N0<;<3<83:89:;9<3O<38:3M0AM:]3<839?:839EMDC<;O<3 NEOEA38EA3ECY:;0AMEA3D<CN<;<90<;N<A3:83DEO<C3<X<9?N0(Eh3N:;NE3D:C:3 :G?<88EA3 G?<3 <AN_;3 RSA09:M<;N<3 O<;NCE3 O<83 N<CC0NEC0E3 OEM0;09:;E]3 9EME3D:C:3:G?<88EA3G?<3A<3<;9?<;NC:;3<;3<83<1N<C0EC'3,;3<AN<3M0AME3 9:DSN?8E]3 A<3 <1DE;<;3 8:A3 C:aE;<A3 G?<3 X?AN0R09:;3 8:3 9C<:90B;3 O<3 <AN:3 !"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

xxiii


NORTIC A8:2019

;ECM:N0(:3 @:A_;OEA<3 <;3 8:3 DCE@8<M_N09:3 :9N?:83 Y<;<C:O:3 DEC3 8:3 0;:O<9?:O:3Y<AN0B;3O<38EA3"),,]3N:;NE3:3;0(<83M?;O0:839EME38E9:8]3 U38:A3:990E;<A3<MDC<;O0O:A3DEC38EA3YE@0<C;EA3D:C:3O:C3?;:3AE8?90B;3 <9E;BM09:]3AE90:83U3:M@0<;N:8M<;N<3(0:@8<' ,;3<A<3M0AME3ECO<;]3<83A<Y?;OE39:DSN?8E3RECM:38:3@:A<3R?;O:M<;N:83 O<38:3;ECM:N0(:]3<;3H83A<3DC<A<;N:3U3O<A9C0@<3<83DCE9<AE3O<3Y<AN0B;3O<38EA3 ),,3G?<3O<@<;3A<Y?0C38EA3ECY:;0AMEA]39EMD?<ANE3DEC380;<:M0<;NEA3 NH9;09EA]3:OM0;0ANC:N0(EA3U3X?CSO09EA]3O<AO<3A?3:OG?0A090B;3Z:AN:3<83 M:;<XE30;N<YC:83O<38EA3C<A0O?EA3G?<3A<3Y<;<C<;]3O0(0O0OE3<;3NC<A3R:A<A3 E3A?@DCE9<AEA3DC0;90D:8<Af3 l3 !CE9<AE3O<3-EMDC:3!V@809:3/EAN<;0@8<3O<3),,' l3 !CE9<AE3D:C:3<835AE3/EAN<;0@8<3O<3),,' l3 !CE9<AE3O<3@:X:3O<3"),,'

xxiv

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


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

25


NORTIC A8:2019

+MVJQNNLOI&?7]?7?7& & & &

&

&

&

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$:3 DC<A<;N<3 ;ECM:3 U3 A?3 :D809:@080O:O3 A<3 C0Y<;3 DEC3 8EA3 A0Y?0<;N<A3 DC0;90D0EAf l3 "<ADE;A:@080O:O3<1N<;O0O:3O<83DCEO?9NEC]30MDECN:OEC3 U3 9EM<C90:80a:OEC'3 $EA3 DCEO?9NEC<A]3 0MDECN:OEC<A3 U3 9EM<C90:80a:OEC<A3AE;3C<ADE;A:@8<A3O<38:3ECY:;0a:90B;3 U3R0;:;90:M0<;NE3O<83DCEO?9NE3O?C:;N<3NEOE3<839098E3O<3 (0O:3O<3<AN<]39E;3E@X<NE3O<38EYC:C3<83M:;<XE3:O<9?:OE3 O<3 8EA3 C<A0O?EA]3 <;3 8:A3 R:A<A3 DEANJ0;O?ANC0:83 U3 DEANJ 9E;A?ME'3 /<3 0;98?U<3 9EME3 DC0;90D0E3 O<3 8:3 DC<A<;N<3 ;ECM:3D:C:3<R<9NEA3O<39E;E9<C38:A3D<CAE;:A3;:N?C:8<A3 E3 X?CSO09:A3 G?<3 :@:AN<9<;3 :83 &E@0<C;E3 9E;3 8EA3 @0<;<A3 ;<9<A:C0EA3U39BME3<ANEA3A<3D?<O<;3(0;9?8:C3D:C:3:DEU:C3 U3 D:CN090D:C3 O<3 ?;:3 Y<AN0B;3 :O<9?:O:3 O<3 8EA3 C<A0O?EA3 Y<;<C:OEA' l3 );_80A0A3O<839098E3O<3(0O:3O<83DCEO?9NE3E8F'3b<CC:M0<;N:3 O<3O0A<cE3G?<3N0<;<39EME3R0;:80O:O30;(<AN0Y:C3U3<(:8?:C3 8EA3 <R<9NEA3 :M@0<;N:8<A3 O<3 ?;3 DCEO?9NE3 E3 A<C(090E3 O?C:;N<3 NEO:A3 8:A3 <N:D:A3 O<3 A?3 9098E3 O<3 (0O:]3 O<AO<3 A?3 <1NC:990B;]3 DCEO?990B;]3 O0ANC0@?90B;]3 ?AE3 U3 R0;3 O<3 (0O:3 Z:AN:3 A?3 C<?N080a:90B;]3 C<9098:X<]3 (:8EC0a:90B;3 U3 <80M0;:90B;nO0ADEA090B;3O<38EA3C<A0O?EAnO<A<9ZEA\' l3 !C<(<;90B;'3 4MD809:3 8:3 0;AN:?C:90B;3 U3 ?N080a:90B;3 O<3 M<9:;0AMEA3U3DE8SN09:A3<;RE9:O:A3:3<(0N:C3O:cEA3YC:(<A3 :83 :M@0<;N<3 U3 8:3 A:8?O3 O<3 8:A3 D<CAE;:A'3 !:C:3 <83 9:AE3 <AD<9SR09E3 O<3 "),,]3 A<3 NC:N:3 O<3 DC<(<;0C3 0MD:9NEA3 :M@0<;N:8<A3:3NC:(HA3O<3?;3:O<9?:OE3:;_80A0A3O<839098E3 O<3(0O:'

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26

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

l3 !CEO?990B;3U39E;A?ME3AEAN<;0@8<'3,83DCEDBA0NE3O<3<AN<3 DC0;90D0E3 <A3 DCEME(<C3 8:A3 O<90A0E;<A3 G?<3 A<3 EC0<;N:;3 :38:3C<O?990B;3O<38:39:;N0O:O3O<3M:N<C0:8<A3D<80YCEAEA3 ?N080a:OEA3 U3 O<3 8EA3 C<A0O?EA3 D<80YCEAEA3 Y<;<C:OEA3 C<AD<9N0(:M<;N<3 DEC3 ?;0O:O3 O<3 DCEO?990B;3 O<3 @0<;<A3 U3A<C(090EA'3$E3:;N<C0EC]39E;3<83R0;3O<3:80(0:C38:3DC<A0B;3 AE@C<3 <83 :M@0<;N<]3 :?M<;N:C3 8:3 DCEO?9N0(0O:O3 U3 9EMD<N0N0(0O:O3 <MDC<A:C0:83 U3 A0M?8N_;<:M<;N<3 9C<:C3 9E;90<;90:3<;38EA39E;A?M0OEC<A3C<AD<9NE3O<83<R<9NE3G?<3 8EA3DCEO?9NEA3U3A?A3O<A<9ZEA3<X<C9<;3AE@C<38:3A:8?O3U3<83 :M@0<;N<' +MVJQNNLOI&?7]?787& && &

&

&

&&&&&&&&%&`MLaI&STRLNS

$:A3 O0C<9NC09<A3 O<3 <AN:3 ;ECM:3 :D809:;3 :3 NEOEA3 8EA3 ECY:;0AMEA3 D<CN<;<90<;N<A3 :83 !EO<C3 ,X<9?N0(E]3 U:3 A<:;3 9<;NC:80a:OEA3 E3 O<A9<;NC:80a:OEA3 ?@09:OEA3 <;3 <83 D:SA'3 ,;NC<3 8EA3 ECY:;0AMEA3 9<;NC:80a:OEA3 A<3 <;9?<;NC:;3 8EA3 M0;0AN<C0EA3 U3 A?A3 O<D<;O<;90:A]3 :AS3 9EME3 8EA3 ECY:;0AMEA3 9E;3 ;0(<83 O<3 M0;0AN<C0EA]3 (09<M0;0AN<C0EA]3 ECY:;0AMEA3 :OA9C0NEA3 :3 8:3 !C<A0O<;90:3 O<3 8:3 "<DV@809:]3 9E;A<XEA3 U3 ECY:;0AMEA3 :A<AEC<A]3 O0C<990E;<A3 Y<;<C:8<A]3 ER090;:A3 ;:90E;:8<A]3 DCE9?C:O?CS:A3R0A9:8<A]3:U?;N:M0<;NEA]3<A9?<8:A3DV@809:A]3ZEAD0N:8<A3 DV@809EA]3@0@80EN<9:A3U3M?A<EA'3 ,;NC<38EA3ECY:;0AMEA3O<A9<;NC:80a:OEA3A<3<;9?<;NC:;38:A30;AN0N?90E;<A3 R0;:;90<C:A3U38:A3;E3R0;:;90<C:A]3ECY:;0AMEA3C<Y?8:OEC<A]30;AN0N?90E;<A3 O<38:3A<Y?C0O:O3AE90:8]3M?;090D0EA3U3<MDC<A:A3DV@809:A' $EA3 ECY:;0AMEA3 D<CN<;<90<;N<A3 :83 !EO<C3 $<Y0A8:N0(E]3 U3 :83 !EO<C3 Q?O090:8]3 :AS3 9EME3 :G?<88EA3 ECY:;0AMEA3 G?<3 <;NC:;3 O<;NCE3 O<3 8:3 98:A0R09:90B;3 O<3 ^%CY:;0AMEA3 ,AD<90:8<A`]3 A<YV;3 <83 20;0AN<C0E3 O<3 )OM0;0ANC:90B;3 !V@809:3 [2)!\]3 N:M@0H;3 D?<O<;3 0MD8<M<;N:C3 8EA3 <AN_;O:C<A3 0;O09:OEA3 <;3 <AN:3 ;ECM:3 9EME3 ?;3 MEO<8E3 O<3 @?<;:A3 DC_9N09:A'

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

27


NORTIC A8:2019

+MVJQNNLOI&?7]?7:7& && &

&

&&&&&&&&&bWVLKH&PQ&STRLNSNLOI

,;3 8:3 DC<A<;N<3 ;ECM:N0(:3 A<3 :@:C9:C:;3 8EA3 ),,3 98:A0R09:OEA3 DEC3 9:N<YECS:A3<;3<AN:3A?@A<990B;]38EA39?:8<A3O<@<C_;3A<C3C<Y?8:OEA3A<YV;3 8EA3N0<MDEA3U39E;O090E;<A3O<N:88:O:A3:39E;N0;?:90B;f [:\3 $:3 <;NC:O:3 <;3 (0Y<;90:3 O<3 8:3 DC<A<;N<3 ;ECM:N0(:3 O<@<3 C<:80a:CA<3@:XE3<83:CC<Y8E3A0Y?0<;N<f l3 $EA3ECY:;0AMEA3O<@<;30;98?0C38:30MD8<M<;N:90B;3O<38:3 +QNNLOI& 87]?& 2HWTYSJ& 'UVRLNSJ& +HJKQILVRQJ& E:F]3 <;3 <83 O<A:CCE88E3O<83!8:;3%D<C:N0(E3);?:83U3!8:;3<ANC:NHY09E3 O<83:cE3=7=7' l3 )3D:CN0C3O<8363O<3<;<CE3O<3=7=73[D<CSEOE3NC:;A0NEC0E\3 <;NC:C_3<;3(0YEC38:3;ECM:N0(:3<;3A?3NEN:80O:O' [@\3 ,AN:3 ;ECM:N0(:3 A<3 :D809:C_3 :3 NEOEA3 8EA3 "),,3 <;3 8:3 R:A<3 DC<(0:3 :3 A?3 NC:N:M0<;NE]3 <A3 O<90C]3 :;N<A3 O<3 8:A3 DC0M<C:A3 MEO0R09:90E;<A3RSA09:A' [9\3 ,83DC<A<;N<3OE9?M<;NE3:R<9N:3:3NEO:A38:A3ED<C:90E;<A38EYSAN09:A]3 0;98?U<;OE3 8:3 C<9E8<990B;]3 98:A0R09:90B;]3 :8M:9<;:M0<;NE3 U3 NC:;ADECN<3O<3"),,3Z:AN:38:3DC0M<C:3<N:D:3O<83NC:N:M0<;NE' [O\3 $:A3 V;09:A3 <198?A0E;<A3 D:C:3 8:3 :D809:90B;3 O<3 8:3 DC<A<;N<3 ;ECM:N0(:3AE;3:G?<88EA3C<A0O?EA3G?<3A<3C0Y<;3DEC3A?A38<U<A3 <AD<90:8<Af l3 $EA3 :D:C:NEA3 G?<3 A<:;3 ;<9<A:C0EA3 D:C:3 8:3 DCEN<990B;3 O<38EA30;N<C<A<A3<A<;90:8<A3O<38:3A<Y?C0O:O3O<83,AN:OE]3 0;98?0O:A3 8:A3 :CM:A]3 8:A3 M?;090E;<A3 U3 <83 M:N<C0:83 O<3 Y?<CC:3O<AN0;:OEA3:3R0;<A3<AD<9SR09:M<;N<3M080N:C<A'

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28

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NORTIC A8:2019

l3 $EA3 :D:C:NEA3 G?<3 <ANH;3 O0A<c:OEA3 <3 0;AN:8:OEA3 <AD<9SR09:M<;N<3 9EME3 D:CN<3 O<3 ENCE3 N0DE3 O<3 :D:C:NEA3 <198?0OE3E3;E30;98?0OE3<;3<83_M@0NE3O<3:D809:90B;3O<38:3 DC<A<;N<3O0C<9N0(:3G?<3D?<O:;39?MD80C3A?3R?;90B;3AE8E3 A03RECM:;3D:CN<3O<3<ANEA3:D:C:NEA'3 l3 $:A3@EM@088:A3O<3R08:M<;NE' l3 "<A0O?EA3ZEAD0N:8:C0EA'3 [<\3 $:A39:N<YECS:A3O<3),,30;98?0OEA3<;3<83_M@0NE3O<3:D809:90B;3O<3 8:3DC<A<;N<3;ECM:]3AE;38:A3A0Y?0<;N<Af l3 )D:C:NEA3O<30;N<C9:M@0E3O<3N<MD<C:N?C:' l3 2E;0NEC<A]3 D:;N:88:A]3 U3 :D:C:NEA3 9E;3 D:;N:88:A3 O<3 A?D<CR090<3A?D<C0EC3:38EA367739Mo' l3 $_MD:C:A' l3 &C:;O<A3:D:C:NEA' l3 !<G?<cEA3:D:C:NEA' l3 )D:C:NEA3 O<3 0;RECM_N09:3 U3 O<3 N<8<9EM?;09:90E;<A3 D<G?<cEA3[A0;3;0;Y?;:3O0M<;A0B;3<1N<C0EC3A?D<C0EC3:3 8EA3>739M\'

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

29


NORTIC A8:2019

+*22-.!&?7]87& &

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30

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NORTIC A8:2019

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31


NORTIC A8:2019

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32

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NORTIC A8:2019

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33


NORTIC A8:2019

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34

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NORTIC A8:2019

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+*22-.!&?7]G7&&&&&&&&&&&&&&&&&&&&&,aYWLIHJ&\&/QcLILNLHIQJ&& && & & & & &&&&&&&& & & & &'YLINLTSRQJ& !:C:3 R0;<A3 O<3 <AN:3 ;ECM:]3 A<3 O<R0;0C_]3 O<3 :9?<COE3 9E;3 8:3 .0C<9N0(:3 =76=n6en5,3O<38:35;0B;3,?CED<:3[!:C8:M<;NE3,?CED<E3U3<83-E;A<XE3 O<38:35;0B;3,?CED<:]3=76=\]38EA3:D:C:NEA3<8H9NC09EA3U3<8<9NCB;09EA3J3 ),,39EMEf +EOEA3 8EA3 :D:C:NEA3 G?<3 D:C:3 R?;90E;:C3 O<@0O:M<;N<3 ;<9<A0N:;3 9ECC0<;N<3 <8H9NC09:3 E3 9:MDEA3 <8<9NCEM:Y;HN09EA3 U3 8EA3 :D:C:NEA3 ;<9<A:C0EA3D:C:3Y<;<C:C]3NC:;AM0N0C3U3M<O0C3N:8<A39ECC0<;N<A3U39:MDEA3 U3 G?<3 <AN_;3 O<AN0;:OEA3 :3 ?N080a:CA<3 9E;3 ?;:3 N<;A0B;3 ;EM0;:83 ;E3 A?D<C0EC3 :3 6'7773 (E8N0EA3 <;3 9ECC0<;N<3 :8N<C;:3 U3 6'>773 (E8N0EA3 <;3 9ECC0<;N<39E;N0;?:'3 )AS3M0AME]3<AN:3O0C<9N0(:3O<R0;<38EA3C<A0O?EA3O<3:D:C:NEA3<8H9NC09EA3 U3 <8<9NCB;09EA3 E3 "),,3 9EME3 ^NEOEA3 8EA3 :D:C:NEA3 <8H9NC09EA3 U3 <8<9NCB;09EA3G?<3D:A:;3:3A<C3C<A0O?EA`]3<A3O<90C]38EA3:D:C:NEA3<8H9NC09EA3 U3 <8<9NCB;09EA3 ^O<3 8EA3 9?:8<A3 A?3 DEA<<OEC3 A<3 O<ADC<;O:3 E3 N<;Y:3 8:3 0;N<;90B;3E38:3E@80Y:90B;3O<3O<ADC<;O<CA<`' ,A30MDECN:;N<3Z:9<C398:C0O:O3:9<C9:3O<38EA39E;9<DNEA32:;<XE34;N<YC:83 U3&<AN0B;34;N<YC:83O<3C<A0O?EA'3 X& )QJKLOI& LIKQ_YSR& PQ& YQJLPMHJh3 $:3 !E8SN09:3 *:90E;:83 D:C:3 8:3 &<AN0B;3 4;N<YC:83 O<3 "<A0O?EA3 O<3 )D:C:NEA3 ,8H9NC09EA3 U3 ,8<9NCB;09EA3 O<3 =76I3 O<83 &E@0<C;E3 O<3 -E8EM@0:38:3O<R0;<39EME3?;3^-E;X?;NE3:CN09?8:OE3<3 !"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

35


NORTIC A8:2019

0;N<CC<8:90E;:OE3 O<3 :990E;<A3 ;ECM:N0(:A]3 ED<C:N0(:A]3 R0;:;90<C:A]3 O<3 D8:;<:90B;]3 :OM0;0ANC:N0(:A]3 AE90:8<A]3 <O?9:N0(:A]3 O<3 D8:;0R09:90B;]3 ME;0NEC<E3 U3 <(:8?:90B;3 D:C:3 <83 M:;<XE3 O<3 8EA3 C<A0O?EA]3 O<AO<3 A?3 Y<;<C:90B;3 Z:AN:3 8:3 O0ADEA090B;3 R0;:8]3 :3 R0;3 O<3 8EYC:C3 @<;<R090EA3 :M@0<;N:8<A]38:3EDN0M0a:90B;3<9E;BM09:3O<3A?3M:;<XE]3 U3A?3:9<DN:90B;3AE90:8]3C<ADE;O0<;OE3:38:A3;<9<A0O:O<A3U3 90C9?;AN:;90:A3O<39:O:38E9:80O:O3E3C<Y0B;`' X& $SIQgH& LIKQ_YSRh3 ,AN<3 A<3 C<R0<C<3 :3 8:A3 :9N0(0O:O<A3 O<3 C<O?990B;3 <;3 8:3 R?<;N<]3 A<D:C:90B;]3 C<?N080a:90B;]3 C<9098:X<]3 9EJDCE9<A:M0<;NE3 E<F]3 NC:N:M0<;NE3 @0E8BY09E]3 G?SM09E]3 RSA09E]3 NHCM09E]3 :8M:9<;:M0<;NE]3 NC:;ADECN<3 U3 O0ADEA090B;3 R0;:83 O<3 C<A0O?EA]3 0;O0(0O?:8M<;N<3 C<:80a:O:A3 E3 9EM@0;:O:A3 O<3 M:;<C:3 :DCED0:O:]3 D:C:3 :O:DN:CA<3 :3 8:A3 9E;O090E;<A3 U3 ;<9<A0O:O<A3 O<3 9:O:3 8?Y:C]39?MD80<;OE3E@X<N0(EA3O<3(:8EC0a:90B;]3<R090<;90:3 A:;0N:C0:]3:M@0<;N:83U3N<9;E8BY09:'3 -?:;OE3:D:C<a9:3<83NHCM0;E3^Y<ANEC3O<3"),,`]3<AN<3A<3C<R0<C<3:3?;:3 D<CAE;:3G?<3DC<AN:3O<3RECM:3NEN:83E3D:C90:838EA3A<C(090EA3O<3C<9E8<990B;]3 NC:;ADECN<]3 :8M:9<;:M0<;NE]3 NC:N:M0<;NE]3 :DCE(<9Z:M0<;NE3 EDF3 E3 O0ADEA090B;3R0;:83O<38EA3C<A0O?EA3O<3:D:C:NEA3<8H9NC09EA3U3<8<9NCB;09EA3 ["),,\3O<;NCE3O<83M:C9E3O<38:3Y<AN0B;30;N<YC:83U39?MD80<;OE39E;38EA3 C<G?<C0M0<;NEA3O<38:3;ECM:N0(:3:M@0<;N:83(0Y<;N<3O<38:3"<DV@809:3 .EM0;09:;:'3

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36

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NORTIC A8:2019

-E;3<839E;9<DNE3^i:8EC0a:90B;`3A<3O<A9C0@<3<839E;X?;NE3O<3:990E;<A3 :AE90:O:A3 9?UE3 E@X<N0(E3 <A3 <83 :DCE(<9Z:M0<;NE3 O<3 8EA3 C<9?CAEA3 9E;N<;0OEA3<;38EA3C<A0O?EA]3A0;3DE;<C3<;3D<80YCE38:3A:8?O3Z?M:;:3U3 A0;3?N080a:C3MHNEOEA3G?<3D?<O:;39:?A:C3D<CX?090E3:83M<O0E3:M@0<;N<' !:C:3R0;<A3O<3<AN:3;ECM:3<839E;9<DNE3^Y<AN0B;3:O<9?:O:`39E;YC<Y:3 <83DCE9<AE3<;N<CE3O<AO<3<;:X<;:90B;3E^F3O<38EA3"),,]38:3C<9E8<990B;3 DEC3 ?;3 Y<ANEC3 O<3 "),,]3 8:3 98:A0R09:90B;3 U3 <83 :8M:9<;:M0<;NE]3 <83 NC:;ADECN<3Z:90:38:3<MDC<A:3NC:;ARECM:OEC:3U38:3(:8EC0a:90B;3O<38EA3 C<A0O?EA'

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37



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39


NORTIC A8:2019

[:\3 $EA3 ECY:;0AMEA3 O<@<;3 :OG?0C0C3 8EA3 ),,3 O<3 RECM:3 AEAN<;0@8<]3O<3M:;<C:3G?<3A<3NC:O?a9:3<;3@<;<R090EA]3D:C:3 8:3ECY:;0a:90B;]3AE90<O:O]3<9E;EMS:]3U3C<O?990B;3O<3O:cEA3 :83M<O0E3:M@0<;N<' [@\3 .<;NCE3O<83DCE9<AE3O<3-EMDC:A3!V@809:A3/EAN<;0@8<A3[-!/\]3 <83ECY:;0AME3O<@<3C<:80a:C3?;3:;_80A0A3O<38:A39E;A<9?<;90:A3 :M@0<;N:8<A]3AE90:8<A3U3<9E;BM09:A3O<38EA3),,3:3:OG?0C0C'

+*22-.!&87]?7& &&&&&&&&&&&/LYQNKYLNQJ&JHVYQ&RS&2HWTYS& &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&'UVRLNS&+HJKQILVRQ&PQ&%** -?:;OE3A<3Z:@8:3O<39EMDC:3AEAN<;0@8<]3A<3Z:9<3C<R<C<;90:3:83DCE9<AE3 O<3Y<AN0B;3C<ADE;A:@8<3G?<3R:(EC<9<38:3:OG?0A090B;3O<3DCEO?9NEA3U38:3 9E;NC:N:90B;3O<3A<C(090EA3G?<3AE;3O0A<c:OEA3D:C:3C<O?90C3<830MD:9NE3 <;3 <83 2<O0E3 )M@0<;N<'3 -E;RECM<3 :3 <ANE]3 8:3 DC<A<;N<3 A<990B;3 <AN:@8<9<3 ?;3 9E;X?;NE3 O<3 D:AEA3 U3 O0C<9NC09<A3 G?<3 O<@<;3 A<Y?0C3 8EA3 O<D:CN:M<;NEA3 O<3 9EMDC:A3 O<3 8EA3 ECY:;0AMEA]3 :3 R0;3 O<3 :A<Y?C:C3 ?;:39ECC<9N:3Y<AN0B;3<;3<83DCE9<AE3O<3:OG?0A090B;3O<3),,]3O<39:C:3:3 DC<A<C(:C38:39:80O:O3O<3(0O:3U3REM<;N:C38:39E;NC:N:90B;3AEAN<;0@8<3<;3 8:3:OM0;0ANC:90B;3DV@809:'3>QY&@L_MYS&87873'YHNQJH&PQ&SP`MLJLNLOI&\& QIKYQ_S&PQ&%**&QI&MI&HY_SILJWH&_MVQYISWQIKSR7

40

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NORTIC A8:2019

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41


NORTIC A8:2019

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42

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NORTIC A8:2019

[0\3 .<@<;3 A<C3 O<R0;0OEA3 8EA3 9C0N<C0EA3 O<3 AEAN<;0@080O:O3 9E;3 8EA3G?<3A<3(:8EC:C_;3U3A<8<990E;:C_;38EA3DCE(<<OEC<A3O<3 8EA3@0<;<A3U3A<C(090EA' [00\3 ,83 ECY:;0AME3 O<@<3 9E;A0O<C:C3 <83 N0<MDE3 O<3 (0O:]3 <83 M:;N<;0M0<;NE3 U3 8:A3 Y:C:;NS:A3 D:C:3 8:3 A<8<990B;3 O<3 ?;3 ),,' [000\3 $EA3 DCE(<<OEC<A3 G?<3 G?0<C:;3 D:CN090D:C3 O<@<;3 <AN:C3 0;A9C0NEA3 <;3 <83 "<Y0ANCE3 O<3 !CE(<<OEC<A3 O<83 ,AN:OE]3 @:XE3 <83 _M@0NE3 O<3 :D809:90B;3 O<3 8:3 $<U3 O<3 -EMDC:A3 U3 -E;NC:N:90E;<A3!V@809:A' [0(\3 .<AO<3 8:3 0MD8<M<;N:90B;3 O<3 8:3 !E8SN09:3 O<33 "<ADE;A:@080O:O3,1N<;O0O:3O<83!CEO?9NEC3D:C:3"),,]3 <83ECY:;0AME3O<@<39EMDC:C38EA3),,3O<3?;3DCEO?9NEC3 E30MDECN:OEC3G?<3RECM<3D:CN<3O<3?;3DCEYC:M:3ER090:83 U39?MD8:39E;38EA3C<G?0A0NEA3O<R0;0OEA3DEC3<AN:3!E8SN09:'3 [(\3 ,83 ECY:;0AME3 O<@<3 C<:80a:C3 ?;:3 RECM?8:90B;3 DC<A?D?<AN:C0:3NEM:;OE3<;39E;A0O<C:90B;38EA3A0Y?0<;N<A3 :AD<9NEAf3 :\3 .<@<3C<A<C(:CA<3<83=7r3G?<3ENECY:38:3$<U3;VM'3 TPPJ7P]3AE@C<3<83.<A:CCE88E3U3-EMD<N0N0(0O:O3O<3 8:A3 24!j2,/3 <;3 8:A3 D:CN0O:A3 O<A0Y;:O:A3 D:C:3 8:A3 9EMDC:A3 U3 9E;NC:N:90E;<A3 O<3 8:3 0;AN0N?90B;]3 :3R0;3O<3 G?<3 8EA3DCE9<O0M0<;NEA3O<3 A<8<990B;3 A<3 O<AN0;<;3<198?A0(:M<;N<3:38:A324!j2,/' @\3 $EA3 DCE9<AEA3 G?<3 A<3 A<8<990E;<;3 D:C:3 <83 <R<9NE]3 O<@<;3 A<C3 :G?<88EA3 <;3 G?<3 A<3 0O<;N0R0G?<3 8:3 DEA0@080O:O3 O<3 G?<3 8EA3 @0<;<A3 U3 A<C(090EA3 A<:;3 ER<CN:OEA3DEC324!j2,/' [O\3 !:C:3<83ECY:;0AME3DCE9<O<C39E;3?;:3NEM:3O<3O<90A0B;3O<3 9EMDC:3 O<3 ?;3 ),,]3 <AN<3 O<@<3 9E;N<MD8:C3 8EA3 A0Y?0<;N<A3

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43


NORTIC A8:2019

:AD<9NEA3U3DC0;90D0EAf [0\3 $:3?;0O:O3O<39EMDC:A3O<83ECY:;0AME3O<@<3:A<Y?C:CA<3 O<3G?<39?:;OE3A<30;98?U<;39E;A0O<C:90E;<A3:M@0<;N:8<A3 U3AE90:8<A3<;38:A3<AD<90R09:90E;<A3NH9;09:A]3<AN:A3O<@<;3 <AN:C3 O0C<9N:M<;N<3 C<8:90E;:O:A3 9E;3 <83 C<;O0M0<;NE3 UnE38:3R?;90E;:80O:O3O<83DCEO?9NE3G?<3:OG?0C0B'3 [00\3 /03 ;E3 <A3 DEA0@8<3 M<XEC:C3 <;3 8:A3 K3 O0M<;A0E;<A3 O<3 AEAN<;0@080O:O]3 <83 ECY:;0AME3 O<@<3 8EYC:C3 9EME3 C<G?0A0NE3MS;0ME3G?<3<10AN:;3<R<9NEA3DEA0N0(EA3<;3?;:3 O0M<;A0B;3 U3 ;E3 <10AN:;3 O<N<C0ECEA3 <;3 8:A3 ENC:A3 OEA'3 $:3 @:A<3 O<3 <AN:A3 NC<A3 O0M<;A0E;<A]3 A<3 M?<ANC:3 <;3 8EA3 A0Y?0<;N<A3DC0;90D0EA3U3(:8EC<Af l3 )OG?0A090B;3O<3),,3:M0Y:@8<A39E;3<83:M@0<;N<f s3 )OG?0C0C3 ),,3 G?<3 9E;A0O<C<;3 <83 M<;EC3 0MD:9NE3:M@0<;N:83DEA0@8<3:38E38:CYE3O<3NEOE3 <839098E3O<3(0O:' s3 )OG?0C0C3 ),,3 G?<3 9E;A0O<C<;3 8:3 MS;0M:3 ?N080a:90B;3 O<3 C<9?CAEA3 ;E3 C<;E(:@8<A3 UnE3 @:XE3<;3<M0A0E;<A3G?<3M0;0M09<;38EA3<R<9NEA3 O<839:M@0E3980M_N09E' s3 )OG?0C0C3),,3<9E8BY09:M<;N<3EDN0M0a:OEA'

44

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NORTIC A8:2019

s3 !CEME(<C3 :G?<88EA3 ),,3 G?<3 Z:;3 EDN:OE3 DEC3 9?MD80C3 9E;3 9C0N<C0EA3 O<3 AEAN<;0@080O:O]3 (0;9?8:;OE3 A<88EA3 DV@809EA3 E3 <N0G?<N:A3 <9E8BY09:A'

l3 )OG?0A090B;3O<3),,39E;3<AN_;O:C<A3AE90:8<Af s3 k?<3 A<3 :DEU<3 :3 8:A3 D<G?<c:A3 U3 M<O0:;:A3 <MDC<A:A' s3 k?<39E;NC0@?U:3:38:3Y<;<C:90B;3O<3<MD8<E'

l3 4;;E(:90B;]3Y<AN0B;3U3AE8?90E;<A39C<:N0(:A3D:C:38:A3 9EMDC:A3DV@809:Af s3 )DEU:C3 :3 8EA3 NEM:OEC<A3 O<3 O<90A0B;3 O<3 8:A3 <;N0O:O<A3DV@809:A3U3RECN:8<9<C38:30;98?A0B;3O<3 9C0N<C0EA3O<3AEAN<;0@080O:O3<;3A?A3:OG?0A090E;<A' s3 -?<AN0E;:C3U3:;:80a:C3RC<9?<;N<M<;N<3AE@C<38EA3 <AN08EA3O<39E;A?ME3O<38:A3<;N0O:O<A3U3A038EA3),,3 :3E@N<;<C3AE;3C<:8M<;N<3;<9<A:C0EA' [<\3 !:C:38:3A<8<990B;3O<83DCE9<O0M0<;NE3:38EA3G?<3A<3A?X<N:C:;3 O09Z:A3 9E;NC:N:90E;<A]3 <83 ECY:;0AME3 O<@<3 A<Y?0C3 8EA3

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45


NORTIC A8:2019

D:C_M<NCEA3U380;<:M0<;NEA3<AN:@8<90OEA3DEC38:38<U3O<39EMDC:A3 U39E;NC:N:90E;<A3DV@809:A]3<AD<90R09:OEA3:39E;N0;?:90B;f [0\3 ,83 ECY:;0AME3 O<@<3 A<8<990E;:C3 <83 DCE9<O0M0<;NE3 :O<9?:OE3 D:C:3 8:3 9E;NC:N:90B;3 O<3 ),,3 A<YV;3 8EA3 :CNS9?8EA36F3U36I3O<38:3$<U3;VM'3KT7J7F]3U38E3<1DC<A:OE3 <83 :CNS9?8E3 K63 O<83 .<9C<NE3 ;VM'3 >TKJ6=]3 8EA3 9?:8<A3 D?<O<;3A<Cf3 l3 $090N:90B;3!V@809:3*:90E;:83E34;N<C;:90E;:8 l3 $090N:90B;3"<ANC0;Y0O: l3 /ECN<EA3O<3%@C:A l3 -EMD:C:90B;3O<3!C<90EA l3 -EMDC:A32<;EC<A l3 /?@:AN:34;(<CA:'3 [00\3 /03A<3A<8<990E;:38:38090N:90B;3DV@809:]3<83ECY:;0AME3O<@<3 DC<A<;N:C3U3D?@809:C38:3ER<CN:3<;38EA3A0Y?0<;N<A3M<O0EAf l3 !ECN:83)OM0;0ANC:OE3DEC3<83#CY:;E3"<9NEC' l3 !ECN:830;AN0N?90E;:83O<83ECY:;0AME'3 l3 2S;0ME3O<3OEA3[=\3O0:C0EA3O<390C9?8:90B;3;:90E;:83 DEC3 <83 NHCM0;E3 O<3 OEA3 [=\3 OS:A3 9E;A<9?N0(EA]3 9E;3 ?;3 MS;0ME3 O<3 NC<0;N:3 [K7\3 OS:A3 Z_@08<A3 O<3 :;N090D:90B;3:38:3R<9Z:3R0X:O:3D:C:38:3C<9<D90B;3U3 :D<CN?C:3O<3ER<CN:A3NH9;09:A]39EMD?N:OEA3:3D:CN0C3 O<83OS:3A0Y?0<;N<3:38:3V8N0M:' [000\3 ,83ECY:;0AME3O<@<39E;N:C39E;3?;3-EM0NH3O<3-EMDC:A3 U3-E;NC:N:90E;<A]3U3<83M0AME3O<@<3DEA<<C38:A3A0Y?0<;N<A3 9:C:9N<CSAN09:Af

46

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NORTIC A8:2019

:\3 ,839EM0NH3O<@<3A<C3D<CM:;<;N<3U3<AN:C39E;AN0N?0OE3 DEC390;9E3[>\3M0<M@CEA3O<38:A3A0Y?0<;N<A3S;OE8<Af l3 m?;90E;:C0E3 O<3 M:UEC3 X<C:CG?S:3 O<83 %CY:;0AME3E3:3G?0<;3<AN<3O<A0Y;<' l3 .0C<9NEC3 )OM0;0ANC:N0(E3 m0;:;90<CE3 O<3 8:3 <;N0O:O3E3A?3O<8<Y:OE' l3 -E;A?8NEC3X?CSO09E3O<38:3<;N0O:O' l3 "<ADE;A:@8<3 O<83 _C<:3 O<3 !8:;0R09:90B;3 U3 .<A:CCE88E3E3A?3<G?0(:8<;N<' l3 "<ADE;A:@8<3 O<3 8:3 %R090;:3 O<3 )99<AE3 :3 8:3 4;RECM:90B;3[")4\' l3 ,;3 9:AE3 O<3 A<C3 ;<9<A:C0E]3 ?;3 !<C0NE3 <AD<90:80a:OE3:3C<G?<C0M0<;NE3O<83-EM0NH3O<3 -EMDC:A3U3-E;NC:N:90E;<A' [R\3 !:C:3 8:3 9ECC<9N:3 9C<:90B;3 U3 D?@809:90B;3 O<3 D80<YEA3 O<3 9E;O090E;<A]3 8EA3 ECY:;0AMEA3 O<@<;3 C<:80a:C3 8:A3 A0Y?0<;N<A3 :990E;<Af [0\3 ,83ECY:;0AME3O<@<3?A:C38EA3MEO<8EA3<AN_;O:C3O<3!80<YE3 O<3-E;O090E;<A3<M0N0OEA3DEC38:3.0C<990B;3&<;<C:83O<3 -E;NC:N:90E;<A3!V@809:A' [00\3 $EA3D80<YEA3O<39E;O090E;<A3;E3O<@<;30;98?0C3M:C9:A]3 MEO<8EA3E39E8EC<A' [000\3 $:39E;(E9:NEC0:3D:C:3C<90@0C3E@A<C(:90E;<A3:83DCEU<9NE3 O<3!80<YE3O<3-E;O090E;<A3,AD<9SR09:A]3O<@<3<R<9N?:CA<3 M<O0:;N<3<83!ECN:83)OM0;0ANC:OE3DEC3<83#CY:;E3"<9NEC3 U3<83DECN:830;AN0N?90E;:8' [0(\3 .<@<3O0R?;O0CA<3<;3<83DECN:83:OM0;0ANC:OE3DEC3<83BCY:;E3 C<9NEC]3N:;NE39EME3<;3<83O<38:30;AN0N?90B;]3<83DCEU<9NE3

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47


NORTIC A8:2019

O<3D80<YE3O<39E;O090E;<A3,AD<9SR09:An,AD<90R09:90E;<A3 +H9;09:A3UnE3:38EA3+HCM0;EA3O<3"<R<C<;90:]3?;:3(<a38:3 9E;(E9:NEC0:3A<3<;9?<;NC<3:@0<CN:' [Y\3 -EME3R:A<3DC0MECO0:83O<;NCE3O<83DCE9<AE3O<3:OG?0A090B;3O<3 ?;3),,]3<83ECY:;0AME3O<@<3<(:8?:C3U3(:80O:C38:A3DCED?<AN:A3 ER<C<;N<A3 C0Y0H;OEA<3 DEC3 <83 -:DSN?8E3 i4]3 !C<A<;N:90B;]3 <(:8?:90B;3 O<3 DCED?<AN:A3 U3 :OX?O09:90B;3 O<83 "<Y8:M<;NE3 >TKJ6=]3<839?:839E;N<MD8:38EA3A0Y?0<;N<A3:AD<9NEAf [0\3 ,83 ECY:;0AME3 O<@<3 DC<A<;N:C3 8:3 ER<CN:3 <;3 OEA3 AE@C<A3 [%R<CN:3 NH9;09:3 U3 %R<CN:3 ,9E;BM09:\3 A<88:OEA3 9E;3 A<Y?C0O:O3 :DCED0:O:3 D:C:3 Y:C:;N0a:C3 8:3 9E;R0O<;90:80O:O' [00\3 .<@<3 (<8:CA<3 DEC3 G?<3 ?;3 ;EN:C0E3 DV@809E3 <;3 DC<A<;90:3 O<83 -EM0NH3 O<3 -EMDC:A3 U3 -E;NC:N:90E;<A3 O<@0O:M<;N<3 9E;RECM:OE]3 9<CN0R0G?<3 8:A3 ER<CN:A3 U3 @C0;O<3A?A3E@A<C(:90E;<A' [000\3 ,83 ECY:;0AME3 O<@<3 :A<Y?C:C3 8:3 :A0Y;:90B;3 O<3 8EA3 C<ADE;A:@8<A3:3<(:8?:C38:A3ER<CN:A3NH9;09:A' [0(\3 .<@<;3 <;NC<Y:CA<3 9ED0:A3 O<3 8:3 ER<CN:3 NH9;09:3 :3 8EA3 C<ADE;A:@8<A3D:C:3G?<3<ANEA3DCE9<O:;3:3<(:8?:C' [(\3 $:A3 ER<CN:A3 O<83 ECY:;0AME3 O<@<;3 A<C3 <(:8?:O:A3 9E;3 @:A<3:38:3^ER<CN:3<9E;BM09:M<;N<3M_A3(<;N:XEA:`]3G?<3 D<CM0N<3 9E;A0O<C:90E;<A3 O<3 9EANEA3 O0AN0;N:A3 :83 DC<90E3 O<39EMDC:'33 [(0\3 ,83ECY:;0AME3O<@<39EMDCE@:C3<83;0(<83O<39?MD80M0<;NE3 O<38EA39C0N<C0EA3O<3AEAN<;0@080O:O3O<38:3ER<CN:' [(00\3 ,83 ECY:;0AME3 O<@<3 88<;:C3 <83 OE9?M<;NE3 ^mECM:NE3 ,(:8?:90B;3 O<3 ER<CN:A3 O<3 ),,3 /EAN<;0@8<A`3 D:C:3 9:80R09:C38EA39C0N<C0EA3<1D?<ANEA3<;38:A3ER<CN:A'

48

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NORTIC A8:2019

[Z\3 ,83 ECY:;0AME3 ?;:3 (<a3 C<90@<3 8:3 <(:8?:90B;3 O<3 8:A3 ER<CN:A3 O<@<3 9?MD80C3 9E;3 8:A3 A0Y?0<;N<A3 D:?N:A3 D:C:3 9E;9C<N:C3 8:3 :OG?0A090B;3O<83),,f [0\3 ,83ECY:;0AME3O<@<3:OX?;N:C3<839E;N<;0OE3<;3A?3RECM:3 O<3 MEO<8E3 <AN_;O:C3 G?<3 O<N<CM0;:3 8:3 .0C<990B;3 &<;<C:83O<3-E;NC:N:90E;<A3!V@809:A3U3O<@<C_39E;N<;<C3 8:A3<AN0D?8:90E;<A3@_A09:A3O<38:39E;NC:N:90B;'3 [00\3 ,83ECY:;0AME3O<@<3C<:80a:C38:3<;NC<Y:3:38:3ER<CN:3^M_A3 9E;(<;0<;N<`3 D:C:3 8EA3 0;N<C<A<A3 0;AN0N?90E;:8<A3 U3 O<83 D:SA'3 [000\3 ,83ECY:;0AME3O<@<3(<8:C3DEC3G?<38:3ER<CN:3A<8<990E;:O:3 9?MD8:39E;38EA39C0N<C0EA3O<3DCEN<Y<C3<83M<O0E3:M@0<;N<' [0(\3 ,83-EM0NH3O<3-EMDC:A3U3-E;NC:N:90E;<A3O<@<3C<:80a:C3 ?;3 0;RECM<3 9EME3 9E;AN:;90:3 O<83 DCE9<AE]3 <83 M0AME3 A<C_3D?@809:OE3<;3<83RECM:NE3<AN:@8<90OE3D:C:3<83<R<9NE3 <;3<83!ECN:83)OM0;0ANC:OE3DEC3<83#CY:;E3"<9NEC' [(\3 $:A3 <;N0O:O<A3 9E;NC:N:;N<A3 O<@<C_;3 <;NC<Y:C3 :3 8:A3 24!j2,/3G?<3C<A?8N<;3O<38:3?;0B;3O<3?;39E;NC:NE]3 ?;3 :(:;9<3 0;090:83 9ECC<ADE;O0<;N<3 :83 (<0;N<3 DEC3 90<;NE3 [=7r\3 O<83 (:8EC3 O<83 9E;NC:NE]3 D:C:3 RECN:8<9<C3 A?39:D:90O:O3<9E;BM09:]39E;NC:38:3DC<A<;N:90B;3O<38:3 Y:C:;NS:3 O<83 @?<;3 ?AE3 O<83 :;N090DE3 [<AN:@8<90O:3 <;3 <83 )CNS9?8E366K]3O<83"<Y8:M<;NE3>TKJ6=\' [0\3 !:C:3 R0;:80a:C3 8EA3 DCE9<AEA3 O<3 :OG?0A090B;3 O<83 ),,3 8EA3 ECY:;0AMEA3 O<@<;3 A<Y?0C3 8:A3 O0C<9NC09<A3 <AD<90R09:O:A3 D:C:3 8:3<;NC<Y:3O<83M0AMEf [0\3 ,83 %CY:;0AME3 O<@<3 :A<Y?C:CA<3 O<3 G?<3 <83 DCEO?9NE3 UnE3 A<C(090E3 :OG?0C0OE3 9?MD8<3 9E;3 8EA3 C<G?0A0NEA3 <AD<90R09:OEA3 <;3 8EA3 D80<YEA3 O<3 9E;O090E;<A]3 E3 <;3 8:A3 O0ADEA090E;<A3:D809:@8<A'

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49


NORTIC A8:2019

[00\3 ,83%CY:;0AME3O<@<3(<8:C3G?<3<83DCEO?9NE3UnE3A<C(090E3 :OG?0C0OE3 9E;N<;Y:3 8:3 OE9?M<;N:90B;3 C<G?<C0O:3 R0CM:O:3DEC38:3:?NEC0O:O30;O09:O:'3

+*22-.!&87]87& & &&&&&&& &&&&&&&&&&&&&/LYQNKYLNQJ&TSYS&& & & & &&&&&&&&&&&&&&&&QR&0JH&+HJKQILVRQ&PQ&%**& ,83 ?AE3 AEAN<;0@8<3 O<3 8EA3 ),,3 :OG?0C0OEA3 DEC3 8:3 )OM0;0ANC:90B;3 !V@809:]3Z:9<3C<R<C<;90:3:83RECN:8<90M0<;NE30;AN0N?90E;:83<;3NHCM0;EA3 O<3<O?9:90B;]39?8N?C:]3NEM:3O<39E;90<;90:3U39:M@0E3<;38EA3D:NCE;<A3 O<3 9E;A?ME3 O<3 <AN<3 N0DE3 O<3 @0<;<A]3 8E3 9?:83 A<3 NC:O?9<3 <;3 <83 :DCE(<9Z:M0<;NE3 O<3 <;<CYS:3 O<3 M:;<C:3 <R090<;N<3 U3 <83 9E;A?ME3 O<3 8E3G?<3C<:8M<;N<3A<3;<9<A0N:h3M0;0M0a:;OE3O<3<AN:3RECM:3<83?AE3O<3 C<9?CAEA3;:N?C:8<A3C<;E(:@8<A3U3;E3C<;E(:@8<A]3D:YEA3DEC39E;A?ME3 O<3<;<CYS:]3<;NC<3ENCEA'3>QY&@L_MYS&87:7&'YHNQJH&PQ&MJH&PQ&%**&QI& MI&HY_SILJWH&_MVQYISWQIKSR7 m0Y?C:3='K'3!CE9<AE3O<3?AE3O<3),,3<;3?;3ECY:;0AME3 Y?@<C;:M<;N:8

[:\3 !:C:3G?<3?;3ECY:;0AME3D?<O:388<(:C3:39:@E3?;3DCE9<AE3O<3 :8N:3O<38EA3),,]3<AN<3O<@<3:D809:C3D:C:39:O:39:AE3E3A0N?:90B;3 8:A3O0C<9NC09<A3O<3?AE3O<N:88:O:A3:39E;N0;?:90B;f [0\3 ,83ECY:;0AME3O<@<3N<;<C3?;:39EO0R09:90B;3D<CM:;<;N<3 O<38EA3@0<;<A3G?<39E;AN0N?U<;3<83D:NC0ME;0E3ME@080:C0E3 G?<38EA3O0R<C<;90:3O<39?:8G?0<C3ENCE3@0<;' :\3 $:3 9EO0R09:90B;3 O<@<3 A<C3 ?;3 YC?DE3 O<3 ;VM<CEA3 :3 NC:(HA3 O<83 9?:83 A<3 8<3 98:A0R09:C_3 <3 0O<;N0R09:C_]3

50

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

9E;RECM<3 :83 -:N_8EYE3 *:90E;:83 O<3 W0<;<A]3 2?<@8<A]3U3:83AERNt:C<3O<3)9N0(E3m0XE3<34;(<;N:C0EA' [00\3 ,83 ECY:;0AME3 O<@<3 AE8090N:C]3 :3 NC:(HA3 O<3 ?;:3 9EM?;09:90B;3ER090:83O0C0Y0O:3:3W0<;<A3*:90E;:8<A]3?;3 9BO0YE3DEC39:O:3:D:C:NE3<8H9NC09E3UnE3<8<9NCB;09E' :\3 ,83 ECY:;0AME3 O<@<3 D<CM0N0C3 8:3 (0A0N:3 O<3 ?;3 0;AD<9NEC3O<3W0<;<A3*:90E;:8<A3G?<39<CN0R09:C_38:3 :OG?0A090B;3O<38EA3),,' [000\3 +EOEA38EA3@0<;<A3M?<@8<A3G?<30;YC<A<;3DEC39?:8G?0<C:3 O<3 8:A3 (S:A3 8<Y:8<A3 U3 D:A<;3 :3 RECM:C3 D:CN<3 O<3 8:A3 <10AN<;90:A3 E3 O<83 D:NC0ME;0E3 O<3 :9N0(E3 R0XE3 O<3 8:A3 O0R<C<;N<A30;AN0N?90E;<A3O<3A<9NEC3DV@809E3OEM0;09:;E3 O<@<;3 A<C3 O<@0O:M<;N<3 C<Y0ANC:OEA3 <3 0;YC<A:OEA3 :83 0;(<;N:C0E3O<83A0AN<M:3ER090:83D:C:3"<Y0ANCE3O<3W0<;<A3 *:90E;:8<A3DEC3D:CN<3O<83ECY:;0AME'3 [0(\3 !:C:3 M:;N<;<C3 ?;3 :O<9?:OE3 C<Y0ANCE]3 9E;NCE83 U3 A<Y?0M0<;NE3 O<3 8EA3 :9N0(EA3 R0XEA3 G?<3 :OG?0<C:;3 8:A3 O0R<C<;N<A3 4;AN0N?90E;<A3 U3 G?<3 AE;3 C<90@0OEA3 <;3 _C<:A3 O0AN0;N:A3 :83 )8M:9H;3 -<;NC:8]3 <AN:A3 O0R<C<;N<A3 _C<:A3 G?<3 0;N<YC:;3 %R090;:A3 -<;NC:8<A3 O<@<;3 0;RECM:C3 O<3 8:3 :OG?0A090B;3 U3 C<9<D90B;3 O<3 O09ZEA3 @0<;<A3 O<;NCE3 O<3 8EA3 90;9E3 OS:A3 [>\3 A0Y?0<;N<A3 :3 8:3 C<9<D90B;3 O<3 8EA3 M0AMEA3:38:35;0O:O3)OM0;0ANC:N0(:3m0;:;90<C:3O<3A?3 4;AN0N?90B;]3C<M0N0<;OE38:3OE9?M<;N:90B;3EC0Y0;:8' [(\3 !:C:3 <83 9:AE3 O<3 @0<;<A3 0;RECM_N09EA]3 <G?0DEA3 O<3 9EM?;09:90B;]3A<Y?C0O:O]3<;NC<3ENCEA]38EA3C<ADE;A:@8<A3 O<3 8:A3 _C<:A3 NH9;09:A3 O<3 8EA3 ECY:;0AMEA]3 O<@<;3 9E8:@EC:C39E;38EA3C<ADE;A:@8<A3O<83_C<:3O<30;(<;N:C0EA3 <;3<839E;NCE83U3:9N?:80a:90B;3O<83D:OCB;3O<30;(<;N:C0E3 D:C:3A?3O<@0OE3C<AY?:COE'3 [(0\3 $EA39E;NCE8<A3U3C<Y0ANCEA3O<38EA3@0<;<A3O<@<C_;3C<:80a:CA<3 <;3 <83 /0AN<M:3 O<3 )OM0;0ANC:90B;3 O<3 W0<;<A3 [/4)W\3 !"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

51


NORTIC A8:2019

E3 9?:8G?0<C3 ENCE3 G?<3 :DC?<@<3 8:3 .0C<990B;3 &<;<C:83 O<3 -E;N:@080O:O3 &?@<C;:M<;N:83 [.4&,-%&\3 U3 8:3 .0C<990B;3&<;<C:83O<3W0<;<A3*:90E;:8<A' [(00\3 ,83 D<CAE;:83 O<3 8:A3 5;0O:O<A3 ,X<9?NEC:A]3 O<@<;3 <8:@EC:C3 8:A3 DCED?<AN:A3 O<3 :A0<;NEA3 9E;N:@8<A]3 8:A3 9?:8<A3C<M0N0C_;3:38:3.4&,-%&3D:C:3A?3(:C0:90B;3U3 :?NEC0a:90B;3:38EA3R0;<A3O<3G?<3A<3C<Y0ANC<;38EA3:A0<;NEA3 <;3 <83 MBO?8E3 O<3 9E;N:@080O:O3 O<83 /0AN<M:3 4;N<YC:OE3 O<3 4;RECM:90B;3 m0;:;90<C:3 [/4&,m\]3 D:C:3 8:A3 :8N:A3 E3 @:X:3O<3@0<;<A3E8F' [(000\3 !:C:3 N<;<C3 9E;AN:;90:3 R0;:83 O<3 8:3 9E;N:@080a:90B;3 O<3 :8N:A3 DEC3 @0<;<A3 DEC3 ED<C:90E;<A3 O<3 9EMDC:]3 <83 ECY:;0AME3O<@<3N<;<C3?;:39E;AN:;90:3R0CM:O:3[R:9N?C:3 O<3NC:AD:AE3E3OE9?M<;NE3O<3C<9<D90B;\3O<83),,'3 [@\3 !:C:3 8EYC:C3 ?;3 ?AE3 AEAN<;0@8<3 O<3 ),,3 <;3 8EA3 ECY:;0AMEA]3 <ANEA3 O<@<;3 A<Y?0C3 8EA3 DCE9<O0M0<;NEA]3 <ANC:N<Y0:A3 U3 M<9:;0AMEA3 G?<3 D<CM0N:;3 O<A:CCE88:C3 8EA3 9E;9<DNEA]3 O<R0;0OEA3DEC3%!+4-3<;38:3&?S:3^5AE3AEAN<;0@8<3O<3),,`'

+*22-.!&87]:7& & & & & 'YHNQJH& PQ& =SgS& PQR& #%**& & ,83DCE9<AE3O<3@:X:3O<83"),,39E;A0AN<3<;3C<N0C:C3O<830;(<;N:C0E3O<83 A0AN<M:3 ER090:83 U3 NC:;AR<C0C3 O09ZEA3 :D:C:NEA3 :3 8:3 .0C<990B;3 &<;<C:83 O<3W0<;<A3*:90E;:8<A3D:C:3A?3DEAN<C0EC3D?<AN:3<;3A?@:AN:3DV@809:3:3 <MDC<A:A3E3Y<ANEC<A3:M@0<;N:8<A3O<@0O:M<;N<3C<Y0ANC:OEA'3-E;RECM<3 :3<ANE]3<;3<AN:3A<990B;3A<3O<A9C0@<3<83DCE9<O0M0<;NE3:3A<Y?0C3:3R0;3O<3 C<:80a:C3 ?;:3 9ECC<9N:3 Y<AN0B;3 O<3 8EA3 "),,3 :83 R0;:83 O<3 A?3 (0O:3 VN08]3 9?MD80<;OE39E;38E3G?<3<AN:@8<9<3<839:DSN?8E3I3O<38:3$<U36PK=3AE@C<3 @0<;<A3;:90E;:8<A'3>QY&@L_MYS&87:7&'YHNQJH&PQ&=SgS&PQ&%**&QI&MI& HY_SILJWH&_MVQYISWQIKSR7

!?#

52

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

m0Y?C:3='K'3!CE9<AE3O<3@:X:3O<3),,3<;3?;3ECY:;0AME3 Y?@<C;:M<;N:8

[:\3 !:C:3 8:3 4O<;N0R09:90B;3 O<3 8EA3 ),,3 E@AE8<NEA]3 8:3 ?;0O:O3 O<3 :9N0(EA3 R0XEA3 O<83 ECY:;0AME3 O<@<3 <(:8?:C3 <3 0O<;N0R09:C]3 :3 AE8090N?O3 O<83 ?A?:C0E3 O<83 ),,]3 8:3 E@AE8<A9<;90:3 E:F3 O<83 M0AME' [@\3 !:C:3 8:3 O<A9:CY:3 O<3 8EA3 ),,3 G?<3 A<3 Z:U:;3 0O<;N0R09:OE3 9EME3 E@AE8<NEA]3 <83 ECY:;0AME3 O<@<3 <M0N0C3 ?;:3 AE8090N?O3 O<3 O<A9:CYE3 O<3 0;(<;N:C0EA3 O<3 @0<;<A3 0;A<C(0@8<A3 :83 .0C<9NEC3 &<;<C:83 O<3 W0<;<A3 *:90E;:8<A'33 [9\3 ,83 ECY:;0AME3 O<@<3 D<CM0N0C3 8:3 0;AD<990B;3 DEC3 D:CN<3 O<3 8:3 9EM0A0B;3 O<3 <(:8?:90B;3 U3 O<A9:CYE3 O<A0Y;:O:3 DEC3 8:3 .0C<990B;3 &<;<C:83 O<3 W0<;<A3 *:90E;:8<A3 D:C:3 8:3 (<C0R09:90B;3O<38:3(0:@080O:O3O<38:3AE8090N?O3O<83ECY:;0AME]3 !@# -&89/3/-2:5$-&5$0/'$5.*</'$8E1.25/'6$*1.29&'$7$+*-5&0&;4/'$25+3&,.-2,&'$*5$*0$8*3-/,&> !"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

53


NORTIC A8:2019

G?0<;<A3:83R0;:83O<38:30;AD<990B;3<M0N0C_;3?;30;RECM<39E;3 8:A3C<9EM<;O:90E;<A39ECC<ADE;O0<;N<A'3 [O\3 !:C:38:3(<C0R09:90B;3U3(:80O:90B;3O<83<1D<O0<;N<]38:35;0O:O3 )OM0;0ANC:N0(:3m0;:;90<C:3O<83ECY:;0AME3O<@<f [0\3 %CO<;:C38:3@:X:3O<38EA3C<Y0ANCEA3<;30;(<;N:C0E3C<AD<9NE3 O<3 8EA3 @0<;<A3 M?<@8<A3 G?<3 A<3 NC:;AR0<C:;3 :3 W0<;<A3 *:90E;:8<A' [00\3 -?MD80C3 9E;3 8EA3 DCE9<AEA3 9E;N:@8<A3 <M0N0OEA3 DEC3 8:3 .4&,-%&3U38:A3;ECM:A3*:90E;:8<A3<34;N<C;:90E;:8<A3 O<3-E;N:@080O:O3:D809:O:3:83/<9NEC3!V@809E3[*4-/!\' [000\3 "<M0N0C3:38:3.4&,-%&]3O<;NCE3O<38EA3O0<a3OS:A3Z_@08<A3 A0Y?0<;N<A3 :3 8:3 R<9Z:3 <;3 G?<3 A<3 Z:U:3 RECM:80a:OE3 8:3 NC:;AR<C<;90:3O<3"),,]3?;:39ED0:3O<38:3-<CN0R09:90B;3 O<3O<A9:CYE3<M0N0O:3DEC3W0<;<A3*:90E;:8<A3G?<3:(:8:3<83 <(<;NE3:83.<D:CN:M<;NE3O<3-E;N:@080O:O3!:NC0ME;0:83 &E@0<C;E3&<;<C:8'3 [0(\3 ,;(0:C3 :3 8:3 .4&,-%&3 U3 :83 #CY:;E3 4;N<C;E3 O<3 -E;NCE8]39ED0:3O<38:39EM?;09:90B;3O<3AE8090N?O3O<3@:X:3 U3D?<AN:3:3O0ADEA090B;3O<38:3)OM0;0ANC:90B;3&<;<C:83 O<3 W0<;<A3 *:90E;:8<A]3 9E;3 NEO:3 8:3 OE9?M<;N:90B;3 O<3AEDECN<3U38:39<CN0R09:90B;3O<3O<A9:CYE3<M0N0O:3DEC3 W0<;<A3*:90E;:8<A' [<\3 5;:3(<a30O<;N0R09:OE38EA3"),,]3<83ECY:;0AME3O<@<3<;(0:C3 8EA3M0AMEA3:38:3.0C<990B;3&<;<C:83O<3W0<;<A3*:90E;:8<A' [R\3 !:C:38:3(<C0R09:90B;3O<839<CN0R09:OE3O<3"),,3<83ECY:;0AME3 O<@<3(<8:C3DECG?<3W0<;<A3*:90E;:8<Af [0\3 !?@80G?<3<;3<83A0AN<M:3ER090:83D:C:3"<Y0ANCE3O<3W0<;<A3 *:90E;:8<A3 <83 9<CN0R09:OE3 O<3 8:3 O0ADEA090B;3 R0;:83 :O<9?:O:3O<3"),,'3

54

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NORTIC A8:2019

[00\3 ,1D<;O:3?;3C<Y0ANCE3:(:8:OE3DEC3?;3Y<ANEC3O<3"),,3 :?NEC0a:OE'3 [000\3 2:;N<;Y:3 <83 "<Y0ANCE3 <;3 ?;3 :M@0<;N<3 :99<A0@8<]3 O<3 M:;<C:3 G?<3 8:3 <;N0O:O3 DV@809:3 D?<O<3 (<C0R09:C3 <83 9ECC<9NE3<AN:OE3O<3A?3),,3U3A?A3C<A0O?EA'

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"

55


NORTIC A8:2019

)("+%#-"&/*&,1#$-!"+ %($%2*!%$-*!,"& -E8E9:90B;3 O<3 A?AN:;90:A3 E3 O<A<9ZEA3 <;3 ?;:3 0;AN:8:90B;3 :O<9?:O:3 OE;O<3 A<3 :D809:;3 M<O0O:A3 O<3 :0A8:M0<;NE]3 DCEN<990B;3 O<83 M<O0E3 :M@0<;N<3 U3 9E;NCE83 Z?M:;E3 9E;3 <83 DCEDBA0NE3 O<3 C<9?D<C:C3 8EA3 O<A<9ZEA3D:C:3A?3O0AD<;A:3E3NC:N:M0<;NE3U3:9E;O090E;:M0<;NE3UnE3 O0ADEA090B;3R0;:83<;3?;3MEM<;NE3DEAN<C0EC' %'%#%,"+&*(12,#-2"+&3&*(*2,#.!-2"+&4%**5 /<3 C<R0<C<3 :3 :D:C:NEA3 G?<3 D:C:3 R?;90E;:C3 O<@0O:M<;N<3 ;<9<A0N:;3 9ECC0<;N<3 <8H9NC09:3 E3 9:MDEA3 <8<9NCEM:Y;HN09EA]3 U3 8EA3 :D:C:NEA3 ;<9<A:C0EA3D:C:3Y<;<C:C]3NC:;AM0N0C3U3M<O0C3N:8<A39ECC0<;N<A3U39:MDEA' %'#">*2i%$-*!,"& !CE9<AE3 0;O?ANC0:83 E3 M:;?:83 M<O0:;N<3 <83 9?:83 8EA3 M:N<C0:8<A3 C<9?D<C:OEA3 O<3 8EA3 C<A0O?EA]3 A<3 C<0;9ECDEC:;3 :83 9098E3 <9E;BM09E3 U3 DCEO?9N0(E3<;38:39:O<;:3O<3(:8EC]3A<:39EME30;A?MEA3O<3DCE9<AE3E3 <;<CYS:h3A0;3DE;<C3<;3D<80YCE38:3A:8?O3Z?M:;:3U3A0;3?N080a:C3MHNEOEA3 G?<3D?<O:;39:?A:C3D<CX?090EA3:83M<O0E3:M@0<;N<'3 =%C%&/*&=-*!*+&$0*=(*+& ,A3 8:3 9:;9<8:90B;3 O<83 C<Y0ANCE3 O<3 ?;3 @0<;3 <;3 <83 0;(<;N:C0E3 O<3 ?;:3 0;AN0N?90B;3DEC3<;:X<;:90B;]30;?N080O:O]30;:D809:90B;3<;3<83A<C(090E]3 <1NC:(SE3U3A0;0<ANCE3[CE@E]3:990O<;N<3E3O<ANC?990B;\'3)D809:OEA3<;3<AN:3 ;ECM:3:38EA3@0<;<A3O<3"),,'3 =-*!*+& $EA3 E@X<NEA3 O<3 9?:8G?0<C3 S;OE8<]3 0;98?U<;OE3 8:A3 M:N<C0:A3 DC0M:A]3 8EA3 DCEO?9NEA]3 8EA3 <G?0DEA]3 ENCEA3 E@X<NEA3 <;3 <AN:OE3 AB80OE]3 8SG?0OE3 E3 Y:A<EAE]3 :AS3 9EME3 8EA3 A<C(090EA3 :99<AEC0EA3 :83 A?M0;0ANCE3 O<3 <AEA3 @0<;<A]3 A0<MDC<3 G?<3 <83 (:8EC3 O<3 8EA3 A<C(090EA3 ;E3 <19<O:3 O<83 O<3 8EA3 DCED0EA3@0<;<A'3

56

!"#$%&'%#%&(%&)*+,-./&0*&("+&1*+-02"+&0*&("+&3'%#%,"+& 4(56,#-6"+&7&4(*6,#./-6"+&813449&*/&("+&:#;%/-+$"+&0*(& 4+,%0"&<"$-/-6%/"


NORTIC A8:2019

2-2("&/*&>-/%&/*(&'#"/02," $:A3R:A<A3G?<3O<A9C0@<;38E3G?<3A?9<O<3:8C<O<OEC3O<3?;3@0<;3O<AO<3A?3 EC0Y<;3Z:AN:3A?3R0;'3,AN:A3AE;3O<3M:;<C:3Y<;<C:8f38:3<1NC:990B;3O<38:A3 M:N<C0:A3DC0M:A]38:30O<:90B;n<83O0A<cE3O<83@0<;]3A?3M:;?R:9N?C:]38:A3 :9N0(0O:O<A3O<3NC:;ADECN<3U3O<3:8M:9<;:M0<;NE]38:39EM<C90:80a:90B;]3 <83?AE3U3<83DEA9E;A?ME'3 2"$'#%+&'j=(-2%+&+"+,*!-=(*+&42'+5 !CE9<AE3M<O0:;N<3<839?:838:A3<;N0O:O<A3O<83A<9NEC3DV@809E3A:N0AR:9<;3 A?A3;<9<A0O:O<A3O<3@0<;<A]3A<C(090EA]3E@C:A3U3?N080O:O<A3DV@809:A]3O<3 N:83RECM:3G?<3:89:;a:;3?;3:8NE3C<;O0M0<;NE3@:A:OE3<;3?;3:;_80A0A3 O<3NEOE3<839098E3O<3(0O:]3G?<3A<3NC:O?9<3<;3@<;<R090EA3;E3AB8E3D:C:38:3 <;N0O:O]3A0;E3N:M@0H;3D:C:38:3AE90<O:O3U38:3<9E;EMS:]3:83N0<MDE3G?<3 C<O?9<3:83MS;0ME38EA3O:cEA3:83M<O0E3:M@0<;N<'3 2"['#"2*+%$-*!,"& 4;N<YC:90B;3 :M@0<;N:8M<;N<3 A<Y?C:3 O<3 8EA3 C<A0O?EA3 U3 M:N<C0:8<A3 O<3:3?;3DCE9<AE3O<3DCEO?990B;3O0AN0;NE3O<83G?<38EA3Y<;<CB]39E;38:3 R0;:80O:O3O<3A<C3:DCE(<9Z:OE39EME3<;<CYS:3E39EME3M:N<C0:3U3C<O?90C3 <;3 9E;A<9?<;90:3 <83 ?AE3 O<3 9EM@?AN0@8<A3 RBA08<A3 U3 M:N<C0:A3 DC0M:A3 9E;(<;90E;:8<A3M<O0:;N<3A?AN0N?90B;' /-+'"+-2-.!&@-!%(& !CE9<AE3 O<3 O<DEA0N:C3 8EA3 C<A0O?EA3 AB80OEA3 G?<3 U:3 ;E3 D?<O<;3 A<C3 (:8EC0a:@8<A]3 M<O0:;N<3 NH9;09:A3 O<3 0;Y<;0<CS:3 D:C:3 <(0N:C3 8:3 9E;N:M0;:90B;]3 O:cEA3 U3 C0<AYEA3 :3 8:3 A:8?O3 Z?M:;:3 U3 :83 M<O0E3 :M@0<;N<'3 /*+*2i"+&,.A-2"+&3&#*+-/0"+&'*(-)#"+"+& /E;3:G?<88EA3G?<]3<;39?:8G?0<C3<AN:OE3RSA09E]39E;N0<;<;39:;N0O:O<A3 A0Y;0R09:N0(:A3O<3A?AN:;90:A3G?<3DC<A<;N:;3E3D?<O:;3DC<A<;N:C3D<80YCE3 D:C:3 8:3 (0O:3 E3 A:8?O3 O<3 8EA3 ECY:;0AMEA3 (0(EA3 9?:;OE3 A<3 80@<C:;3 :83 M<O0E3 :M@0<;N<]3 E3 A03 A<3 M:;0D?8:;3 0;9ECC<9N:M<;N<3 O<@0OE3 :3 8:3 M:Y;0N?O3 E3 MEO:80O:O3 O<3 A?A3 9:C:9N<CSAN09:A3 9ECCEA0(:A]3 NE109:A]3

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57


NORTIC A8:2019

(<;<;EA:A]3 C<:9N0(:A]3 <1D8EA0(:A]3 0;R8:M:@8<A]3 @0E8BY09:M<;N<3 D<C;090EA:A]30;R<990EA:A]30CC0N:;N<A3E3O<39?:8G?0<C3ENC:39:C:9N<CSAN09:3 G?<3C<DC<A<;N<;3?;3D<80YCE3D:C:38:3A:8?O3Z?M:;:]38:39:80O:O3O<38:3 (0O:]38EA3C<9?CAEA3;:N?C:8<A3E3<83<G?080@C0E3<9E8BY09E'3 *!%C*!%2-.!& ,A38:3NC:;AM0A0B;3O<38:3DCED0<O:O3O<3?;3@0<;]39EME3<A3<839:AE3O<38:3 (<;N:]3OE;:90B;]3D<CM?N:3U3O:90B;3<;3D:YE'3 *,-B0*,%+&%$=-*!,%(*+ .0AN0;N0(E3E3A<88E3G?<3D<CM0N<3O0R<C<;90:C38EA3@0<;<A3U3A<C(090EA3G?<3 D?<O<;3 O<MEANC:C3 <83 9?MD80M0<;NE3 O<3 8EA3 9C0N<C0EA3 :M@0<;N:8<A3 @:A:OEA3A?39098E3O<3(0O:'3 )*!*#%/"#& !<CAE;:3RSA09:3E3X?CSO09:]3DV@809:3E3DC0(:O:]3G?<39EME3C<A?8N:OE3O<3 A?A3:9N0(0O:O<A3DCEO?9<3C<A0O?EA3:83O<A:CCE88:C3DCE9<AEA3DCEO?9N0(EA]3 A<C(090EA]39EM<C90:80a:90B;]30MDECN:90B;3U3O<39E;A?ME]3<;NC<3ENCEA'3 )*+,-.!&-!,*)#%(&/*&#*+-/0"+ -E;X?;NE3 :CN09?8:OE3 <3 0;N<CC<8:90E;:OE3 O<3 :990E;<A3 ;ECM:N0(:A]3 ED<C:N0(:A]3 R0;:;90<C:A]3 O<3 D8:;<:90B;]3 :OM0;0ANC:N0(:A]3 AE90:8<A]3 <O?9:N0(:A]3ME;0NEC<E3U3<(:8?:90B;3D:C:3<83M:;<XE3O<38EA3C<A0O?EA]3 O<AO<3 A?3 Y<;<C:90B;3 Z:AN:3 8:3 O0ADEA090B;3 R0;:8]3 :3 R0;3 O<3 8EYC:C3 @<;<R090EA3:M@0<;N:8<A]38:3EDN0M0a:90B;3<9E;BM09:3O<3A?3M:;<XE]3U3 A?3:9<DN:90B;3AE90:8]3C<ADE;O0<;OE3:38:A3;<9<A0O:O<A3U390C9?;AN:;90:A3 O<39:O:38E9:80O:O3E3_C<:3Y<EYC_R09:'3 )*+,"#&/*&#%**& !<CAE;:3G?<3DC<AN:3O<3RECM:3NEN:83E3D:C90:838EA3A<C(090EA3O<3C<9E8<990B;]3 NC:;ADECN<]3 :8M:9<;:M0<;NE]3 NC:N:M0<;NE]3 :DCE(<9Z:M0<;NE3 E3 O0ADEA090B;3R0;:83O<38EA3C<A0O?EA3O<3:D:C:NEA3<8H9NC09EA3U3<8<9NCB;09EA3 ["),,\3O<;NCE3O<83M:C9E3O<38:3Y<AN0B;30;N<YC:83U39?MD80<;OE39E;38EA3 C<G?<C0M0<;NEA3O<38:3;ECM:N0(:3:M@0<;N:83(0Y<;N<'3

58

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NORTIC A8:2019

(-2*!2-%&%$=-*!,%(& .E9?M<;NE3<;3<839?:83A<3Z:9<39E;AN:C3G?<3A<3Z:3<;NC<Y:OE3<83<AN?O0E3 O<3 0MD:9NE3 :M@0<;N:83 9ECC<ADE;O0<;N<]3 U3 G?<3 8:3 :9N0(0O:O]3 E@C:3 E3 DCEU<9NE3A<3D?<O<388<(:C3:39:@E]3@:XE3<839E;O090E;:M0<;NE3O<3:D809:C3 <83 DCEYC:M:3 O<3 :O<9?:90B;3 U3 M:;<XE3 :M@0<;N:83 0;O09:OE3 <;3 <83 M0AME'3 "=+"(*+2*!2-%& ,A38:39:SO:3<;3O<A?AE3O<3M_G?0;:A]3<G?0DEA3U3N<9;E8EYS:A]3MEN0(:O:3 ;E3DEC3?;3M:83R?;90E;:M0<;NE3O<83M0AME]3A0;E3DEC3?;30;A?R090<;N<3 O<A<MD<cE3 O<3 A?A3 R?;90E;<A3 <;3 9EMD:C:90B;3 9E;3 8:A3 ;?<(:A3 M_G?0;:A]3<G?0DEA3U3N<9;E8EYS:A30;NCEO?90OEA3<;3<83M<C9:OE'3 '(-*)"+&/*&2"!/-2-"!*+& .E9?M<;NEA3 G?<3 9E;N0<;<;3 8:A3 @:A<A3 O<3 ?;3 DCE9<AE3 O<3 A<8<990B;3 U3 9E;NC:N:90B;]3 <;3 8:A3 9?:8<A3 A<3 0;O09:;3 8EA3 :;N<9<O<;N<A]3 E@X<N0(EA]3 :89:;9<A]3 C<G?<C0M0<;NEA]3 D8:;EA3 D:C:3 <83 9:AE3 O<3 E@C:A]3 <AD<90R09:90E;<A3NH9;09:A3E3NHCM0;EA3O<3C<R<C<;90:]3U3M_A39E;O090E;<A3 G?<3Y?S:;3E380M0N:;3:38EA30;N<C<A:OEA3<;3DC<A<;N:C3ER<CN:A'3 #*+-/0"+&/*&%'%#%,"+&*(12,#-2"+&3&*(*2,#.!-2"+& 4#%**5 +EOEA38EA3:D:C:NEA3<8H9NC09EA3U3<8<9NCB;09EA3<;3<83MEM<;NE3<;3G?<3 A<3 O<A<9Z:;3 E3 O<A9:CN:;'3 ,AN<3 NHCM0;E3 9EMDC<;O<3 NEOEA3 :G?<88EA3 9EMDE;<;N<A]3 9E;A?M0@8<A3 U3 A?@9E;X?;NEA3 G?<3 RECM:;3 D:CN<3 O<83 DCEO?9NE3<;3<83MEM<;NE3<;3G?<3A<3O<A<9Z:]3A:8(E3G?<30;O0(0O?:8M<;N<3 A<:;39E;A0O<C:OEA3D<80YCEAEA]39:AE3<;3<839?:83C<90@0C_;3<83NC:N:M0<;NE3 DC<(0ANE3D:C:3N:8<A3C<A0O?EA'3 #*+-/0"+&-!"#)b!-2"+& "<A0O?EA3 G?<3 ;E3 DCE(0<;<;3 O<3 8:3 M:N<C0:3 ECY_;09:]3 A0;E3 G?<3 Z:3 A0OE3R:@C09:O:3DEC3<83ZEM@C<]39EME]3DEC3<X<MD8E]3(0OC0E]3M<N:8<A]3 D8_AN09EA]3;<?M_N09EA]3<;NC<3ENCEA'

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59


NORTIC A8:2019

#*+-/0"+&"#)b!-2"+& /E;3C<A0O?EA3@0EO<YC:O:@8<A3G?<3A<3O<A9EMDE;<;39E;3<83N0<MDE3DEC3 M<O0E3O<83M0AME3M<O0E3:M@0<;N<' #*+-/0"+&'*(-)#"+"+ )G?<88EA3G?<3DEA<<;3?;E3E3M_A3O<38:A39:C:9N<CSAN09:A3O<39ECCEA0(0O:O]3 C<:9N0(0O:O]3<1D8EA0(0O:O]3NE1090O:O]30;R8:M:@080O:O3E3G?<39E;N<;Y:;3 :Y<;N<A3 @0E8BY09EJ0;R<990EAEA]3 9E;E90OEA3 9EME3 -",+4W]3 :AS3 9EME3 <;(:A<A]3 C<90D0<;N<A]3 <M@:8:X<A3 G?<3 Z:U:;3 A0OE3 9E;N:M0;:OEA3 9E;3 C<A0O?EA3D<80YCEAEA]3O<39E;RECM0O:O39E;38E3G?<3A<3<AN:@8<9<3<;3<AN:3 8<U'34Y?:8M<;N<]38EA3G?<3Z:U:;3A0OE398:A0R09:OEA39EME3D<80YCEAEA3<;3 9E;(<;0EA30;N<C;:90E;:8<A3O<38EA3G?<38:3"<DV@809:3.EM0;09:;:3A<:3 D:CN<' #*+'"!+%=-(-/%/& *A,*!/-/%& /*(& '#"/02,"#f& -$'"#,%/"#&3&2"$*#2-%(-k%/"#& /E;3 8EA3 DCEO?9NEC<A]3 0MDECN:OEC<A3 U3 9EM<C90:80a:OEC<A3 AE;3 C<ADE;A:@8<A3 O<3 8:3 ECY:;0a:90B;3 U3 R0;:;90:M0<;NE3 O<83 DCEO?9NE3 O?C:;N<3NEOE3<839098E3O<3(0O:3O<3<AN<]39E;3E@X<NE3O<38EYC:C3<83M:;<XE3 O<38EA3C<A0O?EA]3<;38:A3R:A<A3DEANJ0;O?ANC0:83U3DEANJ9E;A?ME' ,#%,%$-*!,"& !CE9<AE3 ?N080a:OE3 D:C:3 :DCE(<9Z:C3 NEOEA3 8EA3 9EMDE;<;N<A3 O<3 8:A3 @:N<CS:A3 :90OEJD8EME3 ?A:O:A3 U3 ;<?NC:80a:C3 8:A3 9:C:9N<CSAN09:A3 O<3 D<80YCEA0O:O3O<38EA3O<A<9ZEA' >%("#-k%2-.!& -E;X?;NE3O<3:990E;<A3:AE90:O:A39?UE3E@X<N0(E3<A3<83:DCE(<9Z:M0<;NE3 O<3 8EA3 C<9?CAEA]3 A<:;3 M:N<C0:8<A3 E3 <;<CYHN09EA]3 9E;N<;0OEA3 <;3 8EA3 C<A0O?EA]3 G?<3 C<DC<A<;N<;3 ?;3 @<;<R090E3 <9E;BM09E]3 A0;3 DE;<C3 <;3 D<80YCE38:3A:8?O3Z?M:;:3U3A0;3?N080a:C3MHNEOEA3G?<3D?<O:;39:?A:C3 D<CX?090E3:83M<O0E3:M@0<;N<'

60

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NORTIC A8:2019

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61


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NORTIC A8:2019

=-=(-")#%@6% 6'3 W:8OH]3-'!']3mECN03i']3&C:U]3i']3p?<ZC]3"'3u3/N<YM:;;]3!'3[=76I\'3 +Z<3&8E@:83,Jt:AN<32E;0NEC]35;0N<O3*:N0E;A35;0(<CA0NU3[5*5\]3 4;N<C;:N0E;:83+<8<9EMM?;09:N0E;35;0E;3[4+5\3u34;N<C;:N0E;:83 /E80O3d:AN<3)AAE90:N0E;3[4/d)\'3WE;;n&<;<(:ni0<;:' ='3 W0<;<A3*:90E;:8<A]3[&'%'3*E'3I7=K]3O<83e3O<3;E(0<M@C<3O<36eTe\3 "<Y8:M<;NE3 *E'3 F67>f3 "<Y8:M<;NE3 AE@C<3 W0<;<A3 *:90E;:8<A'3 "<DV@809:3.EM0;09:;:'33 K'3 -:A0<C]3 $']3 b?0a<;Y:]3 "']3 !<C<C:]3 %']3 "?<N<]3 2'3 u3 +?C8<U3 $'3 [=76>\'3 &?S:3 D:C:3 -EMDC:OEC<A3 !V@809EAf3 4MD8<M<;N:;OE3 9EMDC:A3 DV@809:A3 AEAN<;0@8<A3 D:C:3 $:N0;E:MHC09:3 U3 ,83 -:C0@<'3 4;AN0N?NE34;N<C;:90E;:83O<3.<A:CCE88E3/EAN<;0@8<3[44/.\'3-:;:O_'3 T'3 .0C<990B;3 &<;<C:83 O<3 -E;N:@080O:O3 &?@<C;:M<;N:8'3 [=77P\'3 2:;?:83O<3W0<;<A32?<@8<A3<34;M?<@8<A3O<83<AN:OE3OEM0;09:;E'3 "<DV@809:3.EM0;09:;:' >'3 ,G?0DE3 O<3 8:3 .0C<990B;3 O<3 )A?;NEA3 )M@0<;N:8<A3 /<9NEC0:83 U3 5C@:;:3 [.))/5\3 O<83 20;0AN<C0E3 O<3 )M@0<;N<3 U3 .<A:CCE88E3 /EAN<;0@8<'3 [=76F\'3 2:;?:83 O<3 -EMDC:A3 /'%'/N<;0@8<A3 D:C:3 <;N0O:O<A3DV@809:A3U3DC0(:O:A'3WEYEN_3.'-]3-E8EM@0:' F'3 20;0AN<C0E3 O<3 )M@0<;N<3 U3 .<A:CCE88E3 /EAN<;0@8<'3 [=76F\'3 !%$v+4-)3 *)-4%*)$3 &<AN0B;3 4;N<YC:83 O<3 "<A0O?EA3 O<3 )D:C:NEA3,8H9NC09EA3U3,8<9NCB;09EA'33WEYEN_3.'-]3-E8EM@0:' I'3 20;0AN<C0E3 O<3 )M@0<;N<]3 i0(0<;O:3 U3 .<A:CCE88E3 +<CC0NEC0:8'3 [=767\'3!E8SN09:3*:90E;:83O<3!CEO?990B;3U3-E;A?MEf3b:90:3?;:3 9?8N?C:3 O<3 9E;A?ME3 AEAN<;0@8<3 U3 NC:;ARECM:90B;3 DCEO?9N0(:'3 WEYEN_3.'-]3-E8EM@0:' P'3 20;0AN<C0E3 O<3 )M@0<;N<]3 i0(0<;O:3 U3 .<A:CCE88E3 +<CC0NEC0:8'3 [=767\'3 &?S:3 -E;9<DN?:83 U3 2<NEOE8EYS:3 O<3 -EMDC:A3 !V@809:A3 /EAN<;0@8<A'3WEYEN_3.'-]3-E8EM@0:'

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63


NORTIC A8:2019

e'3 20;0AN<C0E3 O<3 ,9E;EMS:]3 !8:;0R09:90B;3 U3 .<A:CCE88E'3 [=76=\'3 $<U3 6J6=3 ,ANC:N<Y0:3 *:90E;:83 O<3 .<A:CCE88E3 =7K7'3 "<DV@809:3 .EM0;09:;:' 67'3 !:C8:M<;NE3,?CED<E3U3O<83-E;A<XE3[=76=\'3.0C<9N0(:3=76=n6en 5,3 AE@C<3 "<A0O?EA3 O<3 )D:C:NEA3 ,8H9NC09EA3 U3 ,8<9NCB;09EA3 ["),,\'3,ANC:A@?CYE]3mC:;90:'3

64

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NORTIC A8:2019

%!*A"+ %IQmH&%73$0AN:3,1Z:?AN0(:3O<3)D:C:NEA3,8H9NC09EA33 U3,8<9NCB;09EA3[),,\' %TSYSKHJ&PQ&LIKQYNSWVLH&PQ&KQWTQYSKMYS mC0YECSR09EA]3 9E;Y<8:OEC<A]3 :D:C:NEA3 G?<3 A?M0;0ANC:;3 :?NEM_N09:M<;N<3 DCEO?9NEA3 RCSEA]3 :D:C:NEA3 O<3 :0C<3 :9E;O090E;:OE]3 <G?0DEA3 O<3 O<AZ?M0O0R09:90B;]3 @EM@:A3 O<3 9:8EC]3C:O0:OEC<A3O<3:9<0N<3U3ENCEA3:D:C:NEA3O<30;N<C9:M@0E3O<3 N<MD<C:N?C:3G?<3?N0809<;3ENCEA3R8?0OEA3G?<3;E3A<:;3<83:Y?:'3

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65


NORTIC A8:2019

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66

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NORTIC A8:2019

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67


NORTIC A8:2019

*B0-'"&/*&,#%=%C" "cLNLIS&'YQJLPQINLSR&PQ&,QNIHRH_ZSJ&PQ&RS&-IcHYWSNLOI&\& 2HWMILNSNLOI&4"',-25 )CM:;OE3&:C9S:3!0c:]3.0C<9NEC3&<;<C:8' $LILJKQYLH&PQ&$QPLH&%WVLQIKQ&\&#QNMYJHJ&!SKMYSRQJ L;Y<83mC:;90A9E3,ANH(<a3WE?CO0<CO]320;0ANCE /LYQNNLOI&)QIQYSR&PQ&2HIKYSKSNLHIQJ&'UVRLNSJ jEg:AN:3)8N:YC:90:3&?aM_;3/:;NEA]3.0C<9NEC:3&<;<C:8 /LYQNNLOI&)QIQYSR&PQ&=LQIQJ&!SNLHISRQJ ,M080E3-HA:C3"0(:A]3.0C<9NEC3&<;<C:8 /QTSYKSWQIKH&PQ&*JKSIPSYLoSNLOIf&!HYWSKLdSJ&\&%MPLKHYZS& ,aNILNS&4"',-25 &8<;;U32:CS:3-:ANCE]3&<C<;N< &0;AU3)Y?08<C:3&BM<a]3/?D<C(0AEC3*ECM:A ,MM:;?<83"<U<A3*Vc<a]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A ,;U<C3!HC<a32:NEA]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A p<8(0;3%AEC0E3&:C9S:]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A *:N:80:3);OVX:C3&:C9S:]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A *EC@0A3"EM_;32:CNS;<a]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A $?0A3)9EAN:3&BM<a]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A 20Y?<83W_<a3$EC<;aE]3,AD<90:80AN:3,AN_;O:C<A3U3*ECM:N0(:A 2HWLKa&-IKQYIH&TSYS&*dSRMSNLOI&PQ&RSJ&!HYWSJ&42-*!5 !:E8E3&BM<a]3.0C<9NEC3+H9;09E -Z:C803!E8:;9E34;E:]3.0C<9NEC3O<3+<9;E8EYS:A33 O<38:34;RECM:90B;3U3-EM?;09:90B; 2<8(0;3b08:C0E]3,;9:CY:OE3O<38:3.0(0A0B;3%@A<C(:NEC0E3<3 4;(<AN0Y:90B;3O<3&E@0<C;E3,8<9NCB;09E'

68

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NORTIC A8:2019

%JQJHY $0;O:3WC<?g<CA]3-E;A?8NEC:3D:C:3<83A<9NEC3O<3C<A0O?EA3AB80OEA 2HRSVHYSPHYQJ QEAH3)8<X:;OCE3)U@:C32']3"<9NEC3O<38:35;0(<CA0O:O3O<83-:C0@< Q<:;<NN<3-Z:8X?@]3i09<CC<9NEC:3O<34;(<AN0Y:90B;3<34;;E(:90B;3O<3 8:35;0(<CA0O:O3O<83-:C0@< mC:;90A3-Z:Z<O<]3,;9:CY:O:3O<34;(<AN0Y:90E;<A3O<38:3.0C<990B;3 O<3"<Y?8:90E;<A3<34;(<AN0Y:90E;<A3)M@0<;N:8<A3O<8320;0AN<C0E3O<3 2<O0E3)M@0<;N<3U3"<9?CAEA3*:N?C:8<A 2:C0@<83-Z:8:A]3-EECO0;:OEC:3+H9;09:3O<3!CEU<9NEA3O<3 "<A0O?EA3/B80OEA3O<8320;0AN<C0E3O<32<O0E3)M@0<;N<3U3"<9?CAEA3 *:N?C:8<A]3C<DC<A<;N:;OE3:83!8:;3.EM0;09:;:3$0MD0: .:Z0:;:3&EC0A]3-EECO0;:OEC:3O<3-EMDC:A3/EAN<;0@8<A3O<38:3 .0C<990B;3&<;<C:83O<3-E;NC:N:90E;<A3!V@809:A QE;:NZ:;3-:@C:8]3.0C<9NEC3O<34;(<;N:C0E3O<3W0<;<A3,AN:N:8<A3O<3 8:3.0C<990B;3&<;<C:83O<3W0<;<A3*:90E;:8<A ":ME;:3W:N0AN:]3,;9:CY:O:3.0(0A0B;3-E;N:@080O:O3!:NC0ME;0:83 O<83&E@0<C;E3-<;NC:83O<8320;0AN<C0E3O<3b:90<;O: W<8g0A3+<X:O:]3-E;A?8NEC:3X?CSO09:3O<38:33 .0C<990B;3&<;<C:83O<3W0<;<A3*:90E;:8<A m<O<C09E32E;N<CE]3,;9:CY:OE3O<34;RC:<ANC?9N?C:3O<833 20;0AN<C0E3O<3,O?9:90B;

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69





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