Page 1


5VSJOZT ɔ7"%"4  -*&567047*460.&/Ɉ440$*"-*/Ɉ43"*%045*10-0(*;"$*+04130#-&."  

 4PDJBMJOʋSBJEBJSQPTPWJFUJOʋT-JFUVWPTTWFJLBUPTTJTUFNPTQSJFßJʲSPTBQJCʲEJOJNBT   7ʋMZWPTJPTNPEFSOZCʋTQJSNJOʋTTWFJLBUPTQSJFßJʲSPTLPODFQDJKB  .0%&3/*04*047*460.&/Ɉ43"*%"*347&*,"50413*&Â*ɰ3044*45&.0410,:ɂ*"*

       

4WFJLBUPTTPDJPMPHJKPTBUTJSBEJNBTJSTWFJLBUPTQSJFßJʲSPTTJTUFNPTLBJUB  #JPNFEJDJOJOJTJSCJPQTJDIPTPDJBMJOJTTWFJLBUPTNPEFMJT   4WFJLBUPTQSJFßJʲSPTTJTUFNPTSFTUSVLUʲSJ[BWJNPTPDJBMJOʋTQSJFMBJEPT   %FNPHSBĐOJBJ NPEFSOJPTJPT WJTVPNFOʋT QSPDFTBJ JS FQJEFNJPMPHJOJT QFSʋKJNBT    .PEFSOJʳKʳWJTVPNFOJʳWFSUZCJOJʳPSJFOUBDJKʳLBJUB   7BSUPUPKJØLBWJTVPNFOʋJSTPDJBMJOJBJKVEʋKJNBJ  1BDJFOUPWBJENFOTQPLZʅJBJWʋMZWPTJPTNPEFSOZCʋTWJTVPNFOʋKF  4USVLUʲSJOJBJQBDJFOUPmHZEZUPKPTBOUZLJʳZQBUVNBJTPWJFUJOʋKF-JFUVWPKFJSTPDJPMPHJOʋ NPEFMJBWJNPHBMJNZCʋ   4LZSJBVTBQJCFOESJOJNBT  

1"$*&/50ȥ(:%:50+04"/5:,*440$*0-0(*+0+& 

 (ZEZUPKPmQBDJFOUPTBOUZLJPQSPCMFNB   (ZEZUPKPmQBDJFOUPTBOUZLʖBJØLJOBOʅJPTUFPSJKPTJSNPEFMJBJ   1SPGFTJPOBMVTJSOFQSPGFTJPOBMVT MBZ QPßJʲSJTʖTVTJSHJNʂ    4PDJPEFNPHSBĐOJBJ QBDJFOUPmHZEZUPKP TBOUZLJʳ JS TWFJLBUPT BTQFLUBJ     /FMZHZCʋJSTWFJLBUPTQSJFßJʲSPTQBTMBVHʳQSJFJOBNVNBT    7ZSFTOJPBNßJBVTQBDJFOUBJ     -ZʅJʳTLJSUVNBJ   /FMFHBMBVTHZEZUPKʳBUMZHJPEJTLVSTBTTPWJFUJOʋKFTWFJLBUPTQSJFßJʲSPTTJTUFNPKF    4JTUFNJOJTTPWJFUJOʋTTWFJLBUPTQSJFßJʲSPTBUMZHJPBQJCʲEJOJNBT     /FUFJTʋUPBUMZHJPEJTLVSTBT    /FMFHBMVTHZEZUPKʳBUMZHJTJSMZUJFTWBJENFOZT  4LZSJBVTBQJCFOESJOJNBT   1"$*&/5ɱ1"4*5&/,*/*.05:3*.ɱ130#-&."5*,"  

 1BDJFOUʳQBTJUFOLJOJNPUZSJNʳBUTJSBEJNBT   1BDJFOUʳQBTJUFOLJOJNPTBNQSBUB    1BDJFOUʳQBTJUFOLJOJNPUZSJNʳNFUPEPMPHJOʋTQSPCMFNPT    4ʂWPLʳLPODFQUVBMJ[BWJNPQSPCMFNB    1BDJFOUBTLBJQWBSUPUPKBT    1BTJUFOLJOJNPLBJQQBTMBVHPTLPLZCʋTNBUPQSPCMFNB  4LZSJBVTBQJCFOESJOJNBT   1"$*&/5ɱ1"4*5&/,*/*."4*3/60.0/Ɉ"1*&1*3.*/Ɉ447&*,"50413*&Â*ɰ304  1"4-"6("4 

 1JSNJOʋTTWFJLBUPTQSJFßJʲSPTQBTMBVHʳWBSUPUPKʳQBTJUFOLJOJNBT    #FOESPTJPTQSBLUJLPTQBDJFOUʳQBTJTLJSTUZNBTQBHBMQJSNJOʋTTWFJLBUPTʖTUBJHBT 




 ,SFJQJNPTJʖCFOESPTJPTQSBLUJLPTHZEZUPKVTQSJFßBTUZT   #FOESPTJPTQSBLUJLPTHZEZUPKPQSJFJOBNVNBTMBJLPQPßJʲSJV    1BDJFOUʳTVHBJØUBTMBJLBTLFMJPOʋKFQBTCFOESPTJPTQSBLUJLPTHZEZUPKʂ     1BDJFOUʳTVHBJØUBTMBJLBTCFOESPTJPTQSBLUJLPTHZEZUPKPMBVLJBNBKBNF   #FOESVPNFOʋTTMBVHZUPKPTWBJENVP   1BDJFOUʳOVLSFJQJNBTQBTTQFDJBMJTUVT   7BJTUʳTLZSJNBT   #FOESPTJPTQSBLUJLPTHZEZUPKPQBDJFOUPTBOUZLJPZQBUVNBJ   1BDJFOUʳHBMJNZCʋTVTJTJFLUJTVCFOESPTJPTQSBLUJLPTHZEZUPKV    #FOESPTJPTQSBLUJLPT(ZEZUPKPmQBDJFOUPTBOUZLJPNPEFMJT    /FMFHBMVTHZEZUPKPBUMZHJT LZØJT   4LZSJBVTBQJCFESJOJNBT   1"$*&/5ɱ1"4*5&/,*/*.01*3.*/&14*$)*,0447&*,"50413*&Â*ɰ3"  :1"56."*41&$*"-*450ȟ1"$*&/504"/5:,*4 

 1BDJFOUʳQBTJUFOLJOJNP,BVOPQTJDIJLPTTWFJLBUPTDFOUSʳQBTMBVHPNJTUZSJNP    BQJCʲEJOJNBT    4QFDJBMJTUPmQBDJFOUPTBOUZLJBJ     1BTJUJLʋKJNBTQTJDIJLPTTWFJLBUPTQSJFßJʲSPKF    1BDJFOUPQPßJʲSJPʖJOGPSNBWJNʂBQJFTVUSJLJNʂJSHZEZNʂZQBUVNBJ    /FQBTJUFOLJOJNPQSJFMBJEPT    4BOUZLJPTVTPDJBMJOJVEBSCVPUPKVZQBUVNBJ  4LZSJBVTBQJCFOESJOJNBT   ,*/5"/5:4(:%:50+0ȟ1"$*&/504"/5:,*"*14*$)*"53ɱ1&341&,5:7" 

 1BDJFOUʳQPSFJLJTHBVUJJOGPSNBDJKʂBQJFTVUSJLJNʂCFJHZEZNPNFUPEVT   tÂNPHJØLPiCFOESBWJNPTVTQFDJBMJTUVQPSFJLJT   1BDJFOUʳQPSFJLJTEBMZWBVUJTQSFOEßJBOUHZEZNPLMBVTJNVT   4WFJLBUPTQSJFßJʲSPTSFGPSNPTʖUBLBHZEZUPKʳmQBDJFOUʳTBOUZLJBNT    1SJFWBSUJOJPHZEZNPBQSJCPKJNBT    ,WPUPTLPNQFOTVPKBNJFNTWBJTUBNT    ,POTVMUBDJKʳUSVLNʋTBQSJCPKJNBT   1TJDIJBUSʳmQBDJFOUʳTBOUZLJʳWFSUZCJOJBJQPLZʅJBJ   #FOESBTTQSFOEJNPQSJʋNJNBTQTJDIJBUSJKPKF  4LZSJBVTBQJCFOESJOJNBT   47&*,"50413*&Â*ɰ3044*45&.043&'03.0440$*"-*/*4,0/5&,45"4*3  3&'03.044Ɉ,.Ɉȫ7JFUPKFJØWBEʳȬ 

 1BTJUFOLJOJNBT414QBTMBVHPNJTJSQBUFSOBMJTUJOJTQBDJFOUPNFEJLPTBOUZLJT   *OTUJUVDJOʋ414SFGPSNBJSBVUPOPNJØLPCFJBLUZWBVTQBDJFOUPQSPCMFNB  46.."3:   ",30/*."**34"/536.104  /6030%04  13*&%"* 




13"5"3.Ə

4LBJUZUPKBNT QSJTUBUPNB NPOPHSBĐKB m UBJ TJFLJT QBUFJLUJ BLBEFNJOFJ JS QMBʅJBKBJ-JFUVWPTWJTVPNFOFJmNFUBJT7%64PDJPMPHJKPTLBUFESPT WZLEZUVTTWFJLBUPTTPDJPMPHJKPTUZSJOʋKJNVT TVTJKVTJVTTV1BTBVMJPCBOLPĐOBO TVPKBNB -JFUVWPT TWFJLBUPT QSJFßJʲSPT TJTUFNPT SFTUSVLUʲSJ[BDJKB 7FJLJBVTJBJ CʲUʳHBMJNBESʂTJBJTBLZUJ LBE1BTBVMJPCBOLPJOJDJKVPUBJS,BVOPTBWJWBMEZCʋT TLJSUBĐOBOTJOʋ QBSBNB ØJBN LPOLSFʅJBN TWFJLBUPT QSJFßJʲSPT TJTUFNPT QBTMBVHʳ WBSUPUPKʳUZSJNVJUJFTJPHJBJOVMʋNʋTWFJLBUPTTPDJPMPHJKPTBUTJSBEJNʂJSEBCBSUJOʍ KPTQMʋUSʂ7ZUBVUP%JEßJPKPVOJWFSTJUFUP4PDJPMPHJKPTLBUFESPKF %ʋMʖWBJSJBVTJʳQSJFßBTʅJʳTWFJLBUPTTPDJPMPHJKBUVSʋKPMBCBJNFOLBTHBMJNZCFT BUTJSBTUJJSQMʋUPUJTTPWJFUJOʋKF-JFUVWPKF UPEʋMUJLOFQSJLMBVTPNZCʋTMBJLPUBSQJV  LBSUV TV TPDJPMPHJKPT QMʋUSB  BUTJSBEP QSBLUJOʋT JS UFPSJOʋT TʂMZHPT GPSNVPUJT TWFJLBUPTTPDJPMPHJKPTUZSJNBNT-JFUVWPTTWFJLBUPTTPDJPMPHJKB7%6 ,.6JS LJUPTFBLBEFNJOʋTFJOTUJUVDJKPTFEBSUJLQSBEFEBßFOHUJQJSNVPTJVTßJOHTOJVT  UBETBWPUZSJNBJTOPSʋUVNFQSJTJEʋUJQSJFKPTSBJEPTCFJTLMBJEPT.POPHSBĐKPKF TJFLʋNFOFUJLBQJCFOESJOUJØJPTTPDJPMPHJKPTØBLPTUZSJNVT BUMJLUVT-JFUVWPKF CFU JSQMBʅJBVQBßWFMHUJʖTWFJLBUPTTPDJPMPHJKPTQMʋUSʂCFJKPTHBMJNZCFT-JFUVWPKF ,BSUVOPSʋUVNFQBLWJFTUJLPMFHBTQSJTJKVOHUJQSJFØJPTʖEPNJPTJSTWBSCJPT TPDJPMPHJKPT ØBLPT UZSJOʋKJNʳ  UBJQ QBU QBTLBUJOUJ QMBUFTOʍ NʲTʳ WJTVPNFOʋT BVEJUPSJKʂMBCJBVEPNʋUJTTWFJLBUPTTPDJBMJOʋNJTQSJFMBJEPNJTCFJLWJFTUJKʂUBQUJ BLUZWFTOFJSQP[JUZWJBJLSJUJØLFTOFTWFJLBUPTQBTMBVHʳWFSUJOUPKBJSWBSUPUPKB (BMJBVTJBJTJFLUVNFTVEPNJOUJUJFTJPHJOJVTWJTVPNFOʋTTWFJLBUPTQSJFßJʲSPT QVPTFMʋUPKVTJSTUSBUFHVTTPDJPMPHJOFTWFJLBUPTQSJFßJʲSPTTJTUFNPTUZSJNʳOBVEB JSMBCJBVʖTJLMBVTZUJʖCFTJLFJʅJBOʅJVTQBDJFOUVT KʳMʲLFTʅJVTCFJQPSFJLJVT 4VEBSZUPKBT

,OZHPTTLZSJʳBVUPSJBJ

7ZMJVT-FPOBWJʅJVTmʖWBEBT     TLZSJBJ TBOUSBVLB (JFESʋ#BMUSVØBJUZUʋm TLZSJBJ TBOUSBVLPTWFSUJNBTʖBOHMʳLBMCʂ *OHSJEB/BVKPLBJUʋmTLZSJVT




40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

TWFJLPBSQSFWFODJØLBJCFTJSʲQJOBOʅJPTBWPTWFJLBUBJOEJWJEP NʲTʳBQLMBVTPT EVPNFOZTSPEP LBEQSPĐMBLUJØLBJ ʖ NFEJLVT LSFJQJBTJ MBCBJ OFEJEFMJT HZWFOUPKʳ TLBJʅJVT JOUFSFTʳ5PLTIJQPUFUJØLBTUFJHJOZTBUJUJLUʳJSEBCBSUJOʍTWFJLBUPT/70  ʖLVSJBTßNPOʋTCVSJBTJUJLQBHBMTVTJSHJNVT TJUVBDJKʂ,BJQWʋMJBVQBSPEZTJNF  UPLJB CFTJEPNJOBOʅJʳ HZWFOUPKʳ TJUVBDJKB OFQBEFEB NPCJMJ[VPUJ WJTVPNFOʋT MBCJBVSʲQJOUJTTBWPTWFJLBUB "UTLJSBJBQUBSTJNFEPNʋKJNʂTJTWFJLBUPTSFGPSNBJSLSFJQJNPTJʖHZEZUPKʂ QSJFßBTUJT OFTUPLJVBUWFKVHBMJNBBQJCSʋßʅJBVLBMCʋUJBQJFEPNʋKJNʂTJHSJO EßJBOʅJVTNPUZWVT ßSTL  .POPHSBĐKB TVTJEFEB JØEFWZOJʳTLZSJʳ1JSNBNFTLZSJVKFNPEFSOJ[BDJKPT UFPSJKʳQPßJʲSJVOBHSJOʋKBNB-JFUVWPTTPDJBMJOʋTSBJEPTUJQPMPHJ[BDJKPTQSPCMFNB ,BEBOHJTWFJLBUPTQSJFßJʲSPTTJTUFNBZSBTVEʋUJOʋWJTPTTPDJBMJOʋTTJTUFNPTEBMJT JSTPDJBMJOʋSBJEBEBSPQPWFJLʖTWFJLBUPTQSJFßJʲSPTTJTUFNBJ UBJTPDJBMJOʋTSBJEPT UJQPMPHJ[BDJKBMFJEßJBQMBʅJBVQBßWFMHUJʖTWFJLBUPTQSJFßJʲSPTTJTUFNʂ "OUSBNFTLZSJVKFBQUBSJBNPTNFEJDJOPTJSTWFJLBUPTTPDJPMPHJKPTTPDJBMJOʋT BUTJSBEJNPQSJFßBTUZT"ULSFJQJBNBTEʋNFTZTʖ99BJØSZØLʋKVTʖQSJFØUBSBWJNʂ UBSQCJPNFEJDJOJOʋTNPEFSOJPTJPTNFEJDJOPTTBNQSBUPTJSTWFJLBUPT TFSHBNV NPCFJNJSUJOHVNPTPDJBMJOʋTLJMNʋT1PUPEFUBMJBVJØTJBJØLJOTJNFTPDJBMJOJVT WFJLTOJVT LVSJFMʋNʋTWFJLBUPTTBNQSBUPTCFJ414QPLZʅJVT»JVPBUßWJMHJVZSB MBCBJ TWBSCVT HFSPWʋT WBMTUZCʋT TVTJGPSNBWJNBT  MʋNʍT BOUSPKP EFNPHSBĐOJP QFSʋKJNPQSPDFTVTJSWBSUPUPKJØLPTWJTVPNFOʋTBUTJSBEJNʂ.FEJDJOPTJSTWFJ LBUPTTPDJPMPHJKPTBUTJSBEJNʂHBMJNBBOBMJ[VPUJLBJQØJʳQSPDFTʳQBTFLNʍ PKFJ MBJLZTJNF LBETPDJPMPHJKBZSBFNQJSJØLBJHSJOEßJBNBWJTVPNFOʋTTBWJSFēFLTJKPT QSJFNPOʋ UBJTWFJLBUPTJSNFEJDJOPTTPDJPMPHJKʂHBMJNBCʲUʳMBJLZUJUBNUJLSB FLTQFSUJOFWJTVPNFOʋTTWFJLBUPTSʲQFTʅJP IFBMUIDPODFSO SBJØLB ,BSUVOPSʋUVNFQBSPEZUJ LBETPWJFUJOʋKF-JFUVWPKFTWFJLBUPTTPDJPMPHJKB OFHBMʋKPQMʋUPUJTOFUJLEʋMUPUBMJUBSJOJPSFßJNPOFJHJBNPQPßJʲSJPʖBVUPOPNJØ LPTPDJPMPHJOJPNʂTUZNPQMʋUSʂ CFUJSEʋMTPWJFUJOʋTWJTVPNFOʋTTUSVLUʲSJOʋT SBJEPT ZQBUVNʳ 7BLBSJFUJØLPT NFEJDJOPT JS TWFJLBUPT TPDJPMPHJKPT UFPSJKPT TVOLJBJHBMʋKPCʲUJQSJUBJLZUPTTPWJFUJOFJ414UJSUJEʋMQSPCMFNJØLPTPWJFUJOʋTJS WBLBSJFUJØLPTWJTVPNFOʋTQBMZHJOJNPHBMJNZCʋT+VL414TPWJFUJOʋPSHBOJ[BDJKB  414EBMZWJʳTʂWFJLBOFUOFTVQPOBWPQSBLUJOJʳTPDJBMJOJʳQSJFMBJEʳNFEJDJOPT JSTWFJLBUPTTPDJPMPHJKBJBUTJSBTUJ OFT414CVWPMBJLPNBUJLWJTPTTPDJBMJOʋTTJ TUFNPTQSJFEʋMJV 5SFʅJBNF TLZSJVKF BQUBSJBNJ QBDJFOUPmHZEZUPKP TBOUZLJBJ 4PDJPMPHJØLBJ QBDJFOUPmHZEZUPKP TBOUZLʖ HBMJNB UJQPMPHJ[VPUJ ʖWBJSJPNJT QFSTQFLUZWPNJT BSCBTʂWFJLPTNPEFMJBJT OFTSFBMJBJHZEZUPKPmQBDJFOUPTBOUZLZKFWJTVPNFUQB TJSFJØLJBCFWFJLWJTJTPDJPMPHJKPTUFPSJOJBJJOEJWJEʳTPDJBMJOʋTTʂWFJLPTNPEFMJBJ ,JUBWFSUVT TLJSUJOHBJTTPDJBMJOʋTSBJEPTMBJLPUBSQJBJTBSTLJSUJOHʳTVTJSHJNʳBU 


ɶWBEBT

WFKBJTZSBOFWJFOPEBJBLUVBMJ[VPKBNJCFJUBJLPNJHZEZUPKPmQBDJFOUPTBOUZLJBJ #ʲUFOUUPEʋMHBMJNBUFJHUJBQJFUBNUJLSʂWJTVPNFOʋTTPDJBMJOJʳTBOUZLJʳSBJEPT JS HZEZUPKʳmQBDJFOUʳ TBOUZLJʳ TBOUZLJOʖ BUJUJLJNʂ 1BDJFOUʳmHZEZUPKʳ TBOUZ LJTBQUBSJBNBTJSLBJQQSPGFTJPOBMBVTCFJOFQSPGFTJPOBMBVTßJOPKJNPTBOUZLJT  LVSJTJSHJQSJLMBVTPOVPWJTVPNFOʋTTPDJBMJOʋTSBJEPTUJQP»JVPBUWFKVUBJQQBU TWBSCJPTLJUPTQBDJFOUPDIBSBLUFSJTUJLPTBNßJVT MZUJT QBKBNPTJSUU"UTLJSBJ BOBMJ[VPKBNBMBCBJTLBVTNJOHBLZØJʳTPDJBMJOʋQSPCMFNBTWFJLBUPTQSJFßJʲSPT TJTUFNPKF OFT-JFUVWPTHZWFOUPKBJZSBʖTJUJLJOʍ LBEØJJOTUJUVDJKBZSBMBCJBVTJBJ LPSVNQVPUB ,FUWJSUBKBNFTLZSJVKFOBHSJOʋKBNBQBDJFOUʳQBTJUFOLJOJNPQBTMBVHBUZSJNP NFUPEPMPHJKPTQSPCMFNB5JFLQBTJUFOLJOJNPPCKFLUZWVNP UJFLKPQSBTNJOHV NPJSSZØJPTVQBTMBVHPTLPLZCFUZSJNBTLFMJBOFNBßBJQSPCMFNʳ4LZSJVKFKPT ʖWBJSJBJTBTQFLUBJTJSEFUBMJBJBQUBSJBNPT 1FOLUBKBNFTLZSJVKFQBUFJLJBNJJSJOUFSQSFUVPKBNJFNQJSJOJBJEVPNFOZTBQJF #1(UFJLJBNʳQBTMBVHʳPSHBOJ[BWJNʂ QBTJUFOLJOJNʂ QBDJFOUʳQBTJTLJSTUZNʂ QBHBMQJSNJOʋTTWFJLBUPTʖTUBJHBT TFSHBOʅJʳßNPOJʳLSFJQJNPTJQSJFßBTUZT #1( QSJFJOBNVNBTMBJLPQPßJʲSJV CFOESVPNFOʋTTMBVHZUPKPTWBJENVP QBDJFOUʳOV LSFJQJNBTQBTTQFDJBMJTUVT WBJTUʳTLZSJNBT #1(mQBDJFOUPTBOUZLJPZQBUVNBJ  EPWBOBBSCBLZØJTHZEZUPKVJ »FØUBKBNF TLZSJVKF BQUBSJBNBT QBDJFOUʳ QBTJUFOLJOJNP ,BVOP QTJDIJLPT TWFJLBUPTDFOUSʳQBTMBVHPNJTUZSJNBT TQFDJBMJTUPmQBDJFOUPTBOUZLJBJ QBTJUJLʋ KJNBTQTJDIJLPTTWFJLBUPTQSJFßJʲSB QBDJFOUPQPßJʲSJPʖJOGPSNBWJNʂZQBUVNBJ  OFQBTJUFOLJOJNPQSJFMBJEPT TBOUZLJPTVTPDJBMJOJVEBSCVPUPKVZQBUVNBJ 4FQUJOUBKBNFTLZSJVKFOBHSJOʋKBNBTQTJDIJLPTTWFJLBUPTQBDJFOUʳQPSFJLJT HBVUJJOGPSNBDJKʂBQJFTVUSJLJNʂJSHZEZNPNFUPEVT tßNPHJØLPiCFOESBWJNPTV TQFDJBMJTUVQPSFJLJT QBDJFOUʳQPSFJLJTEBMZWBVUJTQSFOEßJBOUHZEZNPLMBVTJNVT  TWFJLBUPTQSJFßJʲSPTSFGPSNPTʖUBLBHZEZUPKʳmQBDJFOUʳTBOUZLJBNT QSJFWBSUJOJP HZEZNPBQSJCPKJNBT QTJDIJBUSʳmQBDJFOUʳTBOUZLJʳWFSUZCJOJBJQPLZʅJBJ (BMJBVTJBJ QBTLVUJOJBNF TLZSJVKF QBUFJLJBNJ BQJCFOESJOUJ EVPNFOZT JS EJTLVTJKPT




 -*&567047*460.&/Ə440$*"-*/Ə43"*%04 5*10-0(*;"$*+04130#-&."

4WFJLBUPTQSJFßJʲSPTTJTUFNBZSBTVEʋUJOʋNPEFSOJPTJPTWJTVPNFOʋTEBMJT  UPEʋMOPSJOUHFSJBVTVQSBTUJ414CʲUJOBBQUBSUJTPDJBMJOʋTTJTUFNPTTUSVLUʲSPT JSKPTLBJUPTLMBVTJNVT *TUPSJOʋNPEFSOJPTJPT-JFUVWPTWJTVPNFOʋTSBJEBWZLPSBEJLBMJBJTLJSUJOHPTF TPDJBMJOʋTF QPMJUJOʋTFJSFLPOPNJOʋTFTJTUFNPTF UPEʋMLJFLWJFOBTØJPTSBJEPT FUBQBTUBSTJQSBTJEʋKPUJLTMJOHBJTCBOEZNBJTQBOBJLJOUJ LFJTUJBSEFSJOUJTLJSUJOHʳ WJTVPNFOJʳUJQʳFLPOPNJOJVT QPMJUJOJVT TPDJBMJOJVTJSUUFMFNFOUVT5BECFU LPLJFNʋHJOJNBJQBBJØLJOUJJSTUSVLUʲSVPUJ-JFUVWPTWJTVPNFOʋKFWZLTUBOʅJVT QSPDFTVT  QBTJUFMLJBOU NPEFSOJPTJPT TPDJPMPHJKPT UFPSJKBT  QJSNJBVTJB NPEFS OJ[BDJKPT LVSJPTCVWPTVLVSUPTSFēFLUVPKBOU 7BLBSʳNPEFSOJʳKʳWJTVPNFOJʳ QBUZSJNʂ BUTLMFJEßJBHBOBQSJFØUBSJOHʂJSOFU ØJʳUFPSJKʳBUßWJMHJV QBSBEPLTBMJʂ -JFUVWPTWJTVPNFOʋTCʲLMʍ1SJUBSUVNFNJOʅJBJ LBEWBLBSJFUJØLPTJPTNPEFSOJ [BDJKPTQSPDFTBTOʋSBOFJVOJWFSTBMJ OFJOFJØWFOHJBNBßNPOJKPTSBJEPTLSZQUJT 


-JFUVWPTWJTVPNFOʭTTPDJBMJOʭTSBJEPTUJQPMPHJ[BDJKPTQSPCMFNB 1PTPWJFUJOJP-JFUVWPTSBJEPTMBJLPUBSQJPTWFJLBUPTTJTUFNPTQSJFßJ˔SPTBQJC˔EJOJNBT

»JBOEJFOQSJQBßʖTUBNB LBEWBLBSJFUJØLPTJPTNPEFSOJ[BDJKPTNPEFMJTZSBHBOB QSJFØUBSJOHBT JS OFOVTQʋKBNBT TPDJBMJOʋT SBJEPT QSPDFTBT  LBJ LVSJBJT BUWFKBJT MZEJNBTSFMJHJKPTBUHJNJNP NVTVMNPOʳLBSØUVPTF BSBVHBOʅJPHBNZCPTQSP EVLUZWVNP 1JFUSZʅJʳ"[JKPKF OFTVTJKVTJPTVWBLBSJFUJØLVPKVJOEJWJEVBMJ[NV ,JUBWFSUVT OFBCFKPUJOBJFTBNFWBLBSJFUJØLPTJPTNPEFSOJPTJPTDJWJMJ[BDJKPTEBMJT JSTBWPWJTVPNFOʋTSBJEʂʖTJWBJ[EVPKBNFCFJLSFJQJBNFMJOLQBOBØBVTNPEFMJP LPOTUSBWJNP  UBE NPEFSOJ[BDJKPT UFPSJKPT HBMʋUʳ CʲUJ UFPSJOJT JOTUSVNFOUBT  QBEFEBOUJTQBBJØLJOUJ LBTWZLTUBNʲTʳWJTVPNFOʋKF ÂJOJB  QPLPNVOJTUJOʋT WJTVPNFOʋT QMʋUSPT QSJFØUBSJOHVNBT ZSB BQJCʲEJ OBNBTUBJLPNʳTPDJPMPHJOJʳNPEFMJʳBUßWJMHJV UPEʋMQBHVMEZEBNJʖBOBMJUJOʍ NPEFSOJ[BDJKPT UFPSJKPT 1SPLSVTUP MPWʂ -JFUVWPT WJTVPNFOʋT SBJEPT FNQJSJLʂ JSLPOTUBUBWʍQSJFØUBSJOHVTQSPDFTVT SJ[JLVPKBNFQSBßJʲSʋUJTBWJUʂ-JFUVWPTWJ TVPNFOʋTWZTUZNʂTJ(BMCʲUUBJWJTBJOFQSJFØUBSJOHJQSPDFTBJ PUJLTBWJUBTSBJEPT LFMJBT*ØLJUPTQVTʋT OFʖNBOPNBBOBMJ[VPUJ-JFUVWPTWJTVPNFOʋTLBJUPTQSPDFTʳ  OFTJOBVEPKBOUVOJWFSTBMJPNJTNPEFSOJPTJPTWJTVPNFOʋTUFPSJKPNJT OFT-JFUVWPT WJTVPNFOʋ JSOPSʋEBNB JSOFOPSʋEBNB SJOLPTJNPEFSOJPTJPTWBLBSJFUJØLPTJPT DJWJMJ[BDJKPTLFMJʂ PʖWBJSJVTQSJFØUBSBWJNVTJSOFBUJUJLJNVTØJPNTUFPSJKPNTWFJ LJBVTJBJSFJLʋUʳMBJLZUJ-JFUVWPTWJTVPNFOʋTTBWJUPTSBJEPTQBTFLNF %BS  N 3 %BISFOEPSGBT UFJHʋ  LBE ØJʳ EJFOʳ JTUPSJKPT JOUFMFLUVBMBJ FOFSHJOHBJ TJFLʋ BQSBØZUJ JS OFU tQBBJØLJOUJi ʖWZLJVT  LVSJʳ OJFLBEPT OFCVWP mOFJØWFOHJBNʂLBQJUBMJ[NPßMVHJNʂ CFUUBQPCFCBMTJBJBLJTUBUPKFTVN SFWPMJVDJKB3ZUʳ&VSPQPKF5BEHBMJBVTJBJ EBSPJØWBEʂ3%BISFOEPSGBT BUSPEP  MJLPNFCFUFPSJKPT LVSJHBMʋUʳQBEʋUJTVQSBTUJFTNJOFTQFSʋKJNPJØWBMTUZCJOJP TPDJBMJ[NPʖBUWJSʂWJTVPNFOʍQSPCMFNBT"QUBSEBNBTTPDJBMJ[NPJEʋKPTLSBDIʂ  #FSHFSJTQSJQBßʖTUB LBEtCʲUʳOFTʂßJOJOHBEʋMUPLʂOPSTLBMUJOUJ OFUVSJOUWJTB UBJQBBJØLJOBOʅJPTUFPSJKPTi7JTEʋMUPUPLTWFSUJOJNBTHBMʋUʳCʲUJØWFMOFTOJT  ßJOBOU  LBE OFU QBUZT tTPDJBMJ[NP QSPKFLUPi WZLEZUPKBJ OFßJOPKP tUJLSPTJPTi 3ZUʳ&VSPQPTWJTVPNFOJʳQBEʋUJFT1SBʋKVTØFØJPMJLBJNFUʳJSQSJLBVQVTEBV HJBVFNQJSJOʋTJOGPSNBDJKPTBQJFØJPSFHJPOPQSBFJUʖJSEBCBSUʖ HBMJNBESʂTJBV UBJLZUJNPEFSOJʂTJBTTPDJPMPHJKPTUFPSJKBTCFJKʳLBUFHPSJKBTJSEBVHLPOLSFʅJBV BQJCSʋßUJ CFJ UJQPMPHJ[VPUJ QPLPNVOJTUJOJʳ WJTVPNFOJʳ TPDJBMJOJVT CFJ LJUVT QPLZʅJVT,BSUVSFJLʋUʳQSJQBßJOUJCʲUJOZCʍLPOTUSVPUJʖWBJSJVTUPQBUJFTJSLJUʳ SFHJPOʳQBMZHJOBNVPTJVTUZSJNVT LVSJʳEFSJOJNBTMFJTUʳBEFLWBʅJBVQBBJØLJOUJ -JFUVWPTWJTVPNFOʋTSBJEʂ 

 #FSHFS14PDJPMPHJKBmUBJOFLWJFUJNBT 4PDJPMPHJKB.JOUJTJSWFJLTNBT/S  5FOQBU   %BISFOEPSG33FēFDUJPOT PO UIF 3FWPMVUJPO JO &VSPQF *O B MFUUFS JOUFOEFE UP IBWF CFFO TFOU UP HFOUMFNFOJO8BSTBX-POEPO$IBUUPBOE8JOEVT$JUQBHBM$VMUVSFEJMFNBTPGQPTUDPNNVOJTU TPDJFUJFT1   #FSHFS11 




-*&567047*460.&/ɪ440$*"-*/ɪ43"*%045*10-0(*;"$*+04130#-&."

1PTPWJFUJOJP-JFUVWPTSBJEPTMBJLPUBSQJPTWFJLBUPTTJTUFNPTQSJFßJʲSPT BQJCʲEJOJNBT -JFUVWPTWJTVPNFOʋT SBJEʂ HBMJNB UJQPMPHJ[VPUJ LBJQ NPEFSOJPTJPT LBJQ 3ZUʳ&VSPQPT LBJQTPWJFUJOʋT PEBCBSJSLBJQQPTPWJFUJOJPUSJKʳ#BMUJKPTØBMJʳ SFHJPOP PHBMJBVTJBJLBJQVOJLBMJPTTPDJBMJOJʳQSPDFTʳJSEBSJOJʳLPOTUFMJBDJKPT WJTVPNFOʍ,JFLWJFOBTUPLJPNPEFMJBWJNPMZHNVPMFJEßJBʖßWFMHUJTBOUZLJOBJ CFOESVTJSTLJSUJOHVT-JFUVWPTWJTVPNFOʋTCSVPßVT&NQJSJØLBJØJʂTLJSUJOHʳ MZHJʳUJQPMPHJ[BDJKʂOFTVOLVQBHSʖTUJ1BTBVMJPWFSUZCJ˕UZSJNPHSVQʋTBUMJFLBNʳ BOLFUJOJʳBQLMBVTʳEVPNFOJNJT LVSJFMFJEßJBJEFOUJĐLVPUJ 7BLBSʳ 7JEVSJPJS 3ZUʳ&VSPQPTCFJQPTPWJFUJOJPSFHJPOPWJTVPNFOJʳTLJSUVNVT UJQPMPHJ[VPKB NVTNBUFSJBMJTUJOJʳJSQPNBUFSJBMJTUJOJʳWFSUZCJʳQPßJʲSJV.ʲTʳUZSJNBTZSB UBSTJQBTUBOHBTVSBTUJ-JFUVWPTTWFJLBUPTQSJFßJʲSPTTJTUFNPT 414 WJFUʂØJPKF TLJSUJOHʳMZHJʳUJQPMPHJ[BDJKPKF ÂJOJB ØJTHBOBTMJEVTTPDJPMPHJOJPNPEFMJBWJNPLFMJBTWJTVPNFUZSBEBVHJBV BSNBßJBVIJQPUFUJOJT UPEʋMLJFLWJFOBTQSJFØUBSBVKBOUJTBSHSJBVOBOUJTUFPSJOʍ TDIFNʂ GBLUBT UBNQB BLUVBMVT JS SFJLBMJOHBT MBCJBV OFJ TDIFNʂ QBUWJSUJOBOUJ FNQJSJLB 7JT EʋMUP NPOPHSBĐKPKF SFNTJNʋT FNQJSJOJBJT EVPNFOJNJT  LVSJF OFOFJHT PJMJVTUSVPTQBTJSJOLUʳNPEFSOJ[BDJKPTUFPSJKʳJOTUJUVDJOʋTLBJUPTNP EFMJBWJNʂ,BSUVOPSʋUVNFQBCSʋßUJ LBENFTOFTJFLTJNFBUTLMFJTUJTBWJUPTJS UJL-JFUVWPTWJTVPNFOFJCʲEJOHPTTPDJBMJOʋTSBJEPTCFJKPT414ZQBUVNʳ OPST HSFUJOBOUTLJSUJOHʳWJTVPNFOJʳFNQJSJOJVTEVPNFOJTNBUZUJ LBE-JFUVWPT414  UBJQQBU-JFUVWPTWJTVPNFOʋTTWFJLBUBUVSJJØTLJSUJOJʳCSVPßʳ TVTJKVTJʳTVKPT JTUPSJKʂMʋNVTJBJTWFJLTOJBJT-JFUVWPT414JSWJTVPNFOʋTTWFJLBUPTVOJLBMVNP UZSJNBTSFJLBMBVUʳQMBUFTOJPTVLJUPNJTWJTVPNFOʋNJTTVHSFUJOJNP CFOUKBVTV #BMUJKPTØBMJʳFNQJSJLB UPEʋMJØTJQMʋTUʳʖEJEFTOʋTBQJNUJFTUZSJNʂ5JQPMPHJØLBJ NʲTʳUZSJNPMZHNVPHBMʋUʳCʲUJBQJCSʋßJBNBTLBJQNPEFSOJPTJPTQPTPWJFUJOʋT WJTVPNFOʋT414SBJEB 5BJLBOUVOJWFSTBMJBTNPEFSOJPTJPTWJTVPNFOʋTTPDJPMPHJKPTUFPSJKBT WJTVP NFUJØLZMBLMBVTJNBT LBJQSFJLʋUʳUSBLUVPUJUPLJʳUZSJNʳSF[VMUBUVT 7JFOBWFSUVT  -JFUVWPTWJTVPNFOʋTSBJEPTTJUVBDJKBQSJNFOBUVPTQSPDFTVT LVSJFWZLP7BLBSʳ 

 1BWZ[EßJVJ  WJTPT USZT #BMUJKPT UBVUPT QBUZSʋ WJTJØLʂ TPWJFUJOJP MBJLPUBSQJP USBOTGPSNBDJKʂ  LVSJʂ HBMJNBJMJVTUSVPUJʖWBJSJBJTFNQJSJOJBJTEVPNFOJNJT UBʅJBVUVPQBUNFUV-JFUVWPTWJTVPNFOʋBU TLJSBJTQBSBNFUSBJTTLJSJBTJOVPMBUWJʳJSFTUʳ   IUUQXXXXPSMEWBMVFTTVSWFZPSH*OHMFIBSU3.PEFSOJ[BUJPOBOEQPTUNPEFSOJ[BUJPO$VMUVSBM &DPOPNJD BOE 1PMJUJDBM $IBOHF JO  4PDJFUJFT  &VSPQB JS NFT " .BUVMJPOJT SFE   4+VLOFWJʅJVT4LJSUJOHVNPEJNFOTJKPT-JFUVWPT(ZWFOUPK˕WFSUZCʭTFVSPQJOJBNFLPOUFLTUF ,VMU˔SPMPHJKB".BUVMJPOJT SFE 5   IUUQXXXXPSMEWBMVFTTVSWFZPSH




1PTPWJFUJOJP-JFUVWPTSBJEPTMBJLPUBSQJPTWFJLBUPTTJTUFNPTQSJFßJ˔SPTBQJC˔EJOJNBT

NPEFSOJPTJPTFWJTVPNFOʋTFQSJFØBSNFUʳJSHBMʋUʳBUSPEZUJ LBE-JFUVWPT WJTVPNFOʋTSBJEBUBSTJBUTJMJFLB5BʅJBVUVSJOUNJOUZKF LBELJFLWJFOPTWJTVPNF OʋTSBJEBWJTVPNFUZSBTBOUZLJOBJVOJLBMJJSLJUʳWJTVPNFOJʳSBJEPTOFLBSUPKB  OFTLJFLWJFOBTWJTVPNFOʋTSBJEPTFUBQBTZSBMBJLPJSFSEWʋTBQSJCPUʳWFJLTOJʳ JSQBTJSJOLJNʳLPNQMFLTPTVEʋUJOJTEBSJOZT WFJLJBVTJBJSFJLʋUʳLBMCʋUJOFBQJF QBLBSUPKJNʂBSQBTJWJKJNʂ PBQJFTBWJUʂTPDJBMJOʋTSBJEPTLPOTUSBWJNʂUBNUJLSʳ TʂMZHʳJSHBMJNZCJʳSJCPTF/BHSJOʋEBNJQPTPWJFUJOʋT-JFUVWPT414JOTUJUVDJOʍ USBOTGPSNBDJKʂ KPTEBMZWJVT KʳUBSQVTBWJPTʂWFJLʂ TJFLTJNFBQJCʲEJOUJQPTPWJFUJ OJBNSFHJPOVJTBOUZLJOBJTBWJUVTCFJNPEFSOJPTJPNTWJTVPNFOʋNTVOJWFSTBMJVT CSVPßVTJSBQUBSUJHBMJNʂ414SBJEPTLSZQUʖ4PDJPMPHJOʋUFPSJKBQBEFEBOFUJL TVLMBTJĐLVPUJ BS UJQPMPHJ[VPUJ TPDJBMJOJVT SFJØLJOJVT CFUQBSPEPBUTLJSPBUWFKP TBOUZLJOʖTBWJUVNʂ PTPDJBMJOʋTQPMJUJLPTVßEBWJOZTmBUTJßWFMHUJʖØʖWJTVPNFOʋT SBJEPTTBWJUVNʂJSQSJJNUJBEFLWBʅJVTUJLSPWʋTLFJUJNPTQSFOEJNVT .PLTMJOʋKF JS QPQVMJBSJPKF MJUFSBUʲSPKF EBCBSUJOʋT -JFUVWPT QPMJUJOʋT  TP DJPFLPOPNJOʋT JS LVMUʲSJOʋT HZWFOJNP TʂMZHPT BQJCʲEJOBNPT QPTPWJFUJOJP  QPTPDJBMJTUJOJP QPLPNVOJTUJOJPQFSJPEPUFSNJOBJT5BʅJBVUPLJFUFSNJOBJEBCBS UJOʍ-JFUVWPTTJUVBDJKʂWFJLJBVBQJCʲEJOBDISPOPMPHJØLBJOFJTUSVLUʲSJØLBJ,JUB WFSUVT MJFLBOFBJØLV LPLJBZSBØJPQFSJPEPQBCBJHPTSJCB+VL-JFUVWBBS#BMUJKPT WBMTUZCJʳ WJTVPNFOʋT JØMJLT TBWJUʳ TPDJBMJOʋT QPMJUJOʋT JS FLPOPNJOʋT SBJEPT SFHJPOVOFUJSUVPBUWFKV LBJʖWBJSJBJTSPEJLMJBJTQBTJWZTUVSUJOHFTOFT7BLBSʳBS »JBVSʋT&VSPQPTWBMTUZCFT 4ʤWPLBQPT PW JFUJOJ TUVSJEWJHJNJOJØLBTTʤWPLBTmQPLPNVOJTUJOJTJS QPTPDJBMJTUJOJT»JPTTʤWPLPTBQJNBMBJLPEʭNFOʸ UBʧJBVOFBQTJSJCPKBOFJ ʸWZLJ˕TFLPT OFJQSPDFT˕USVLNʭTTUFCʭKJNV$ISPOPMPHJOʭEJNFOTJKBʧJB QJSNJOʭ UBʧJBVØBMJBQBCSʭßJBNBWZLTUBOʧJ˕LJUJN˕TPDJBMJOJPJSFLPOP NJOJPLPOUFLTUPJSLVMU˔SJOJPCFJQPMJUJOJPBUTQBMWJPTWBSCB5BJUBNUJLSPT S˔ØJFTQFSWFSTNVTʸWBSEJKBOʧJPTTʤWPLPT1PT PW JFUJOJ T QPLPNV OJ TUJOJ T  QPT PD JBMJ TUJOJ TTBWPSVPßUVJNQMJLVPKBWZLTUBOʧJPLJUJNP VOJLBMVNʤ 7JFOJ BVUPSJBJ ØWFMOJBJ JSPOJ[VPEBNJ  LJUJ TV NFUPEPMPHJOF 

 1BWZ[EßJVJ   N -JFUVWPT TWFJLBUPT NJOJTUFSJKB SZßPTJ BQSJCPUJ IPTQJUBMJ[BDJKPT LWPUBT 5PLT TQSFOEJNBT UJFTJPHJBJ TVTJKʍT TV TJFLJV QSJBSUJOUJ -JFUVWPT TWFJLBUPT JOTUJUVDJKʳ IPTQJUBMJ[BDJKPT BQJNUJTQSJFJØTJWZTʅJʳØBMJʳBQJNʅJʳ,BSUVTJFLJBNBUBVQZUJTWFJLBUBJTLJSJBNVTĐOBOTVT 5BʅJBV BLJWBJ[EV  LBE UPLT LWPUʳ TVNBßJOJNBT OFBUJUJOLB JØTJWZTʅJVTJʳ QPJOEVTUSJOJʳ WJTVPNFOJʳ TP DJPFLPOPNJOJPJSWFSUZCJOJPLPOUFLTUP,WPUʳNBßJOJNʂUVSʋUʳTʂMZHPUJWJTVPNFOʋTTFSHBNVNP NBßʋKJNBT QBTJFLUBTHFSJOBOUWJTVPNFOʋTHZWFOJNPTʂMZHBTJSNBTJØLBJQMʋUPKBOUTVTJSHJNʳQSP ĐMBLUJLʂCFJQSFWFODJKʂ(BMJNBTQʋUJ LBEUPLJʳTʂMZHʳOFCVWJNBTJS414ĐOBOTBWJNP TUZHJVT 414 CJVSPLSBUVTʖTUʲNʋʖLFCMJʂQBTJSJOLJNPTJUVBDJKʂ/FUVSJOUQBLBOLBNBJQJOJHʳ UPLTQBTJSJOLJNBT BUSPEZUʳSFBMJTUJOJT CFULBSUVDJOJØLBT»JVPBUWFKVĐOBOTJOʋOBØUBQFSLFMJBNBMJHPOJOJʳNFEJLBNT  PNFEJLBJTBWPSVPßUVKʂQFSLFMJBQBDJFOUBNT"USPEP LBENJOJTUFSJKBUBSTJTʂNPOJOHBJTLBUJOB NPLBNʂ414 OFTUSʲLTUBOULWPUʳʖMJHPOJOʍHBMJNBQBLMJʲUJEBWVTLZØʖ




-*&567047*460.&/ɪ440$*"-*/ɪ43"*%045*10-0(*;"$*+04130#-&."

OFWJMUJNJQBCSʭßJB LBE EFKB NPLTMVJOFßJOPNBUFPSJKB QBBJØLJOBOUJ LBJQ JØTPDJBMJ[NPBSLPNVOJ[NP EBßOBTQSJEFEBFQJUFUʤtQTFVEPi FJUJMJOL LBQJUBMJ[NPJSEFNPLSBUJKPT OFTFTBNPTFUFPSJKPTF ʸWBJSJBVTJVPTFNBSL TJ[NPWFJLBMVPTFBQSBØZUBTJTTPDJBMJ[NBTJSLBQJUBMJ[NBTUBJQJSOFJØWZEP EJFOPTØWJFTPTßNPOJ˕WJTVPNFOʭTF

,JUJBVUPSJBJTPDJBMJOʋTLBJUPTBSCBWJTVPNFOʋTSFLPOTUSVLDJKPTQPßJʲSJV TLJSJBEVQPLPNVOJTUJOʋT-JFUVWPTWJTVPNFOʋTSBJEPTMBJLPUBSQJVT SFWPMJV DJOʸ m LVSJBNCʲEJOHBOBVKʳQPMJUJOJʳ FLPOPNJOJʳ LVMUʲSJOJʳJS TPDJBMJOJʳOVPTUBUʳBSUJLVMJBDJKB QJSNJBVTJBUFJTJOJPQBWJEBMPTVUFJLJNBT   FWPMJVDJOʸ OVPN mSFWPMJVDJOJPMBJLPUBSQJPBSUJLVMJBDJKʳJOTUJUVBMJ[BDJKB  UZQSBLUJOJTʖHZWFOEJOJNBT-#BMDFSPXJD[JBVTQPßJʲSJV UFJTJOʋUWBSLBKBVZSB JOTUJUVBMJ[BDJKB UPEʋM1»BVMBVTLPQFSJPEJ[BDJKPKFJØLZMBUBNUJLSBTOFBQJCSʋßUV NBTEʋMJOTUJUVBMJ[BDJKPTTʂWPLPTWBSUPKJNPJEFOUJĐLVPUJ BOUSʂKʖSBJEPTMBJLPUBSQʖ "OPU1»BVMBVTLP FWPMJVDJOJTMBJLPUBSQJTmUBJKBVOFQFSFJOBNBTJTMBJLPUBS QJT PJMHBMBJLʋJSTUBCJMJWJTVPNFOʋTCʲLMʋ"OPUKP QFSFJOBNBTJTMBJLPUBSQJT  BSCBFTNJOJTTPWJFUJOJPTPDJBMJOJPBVEJOJPQBLFJUJNBT QBTJCBJHʋJSEBUVPUJOBT mN.BUZU SFJLʋUʳTVUJLUJTVBVUPSJVNJUJLEʋMUP LBEBQJFN CBJHJBTJQPTPWJFUJOJPMBJLPUBSQJPWJTVPNFOʋTTPDJBMJOʋTNPCJMJ[BDJKPTFUBQBTJS WJTVPNFOʋUBSTJtTVHSʖßUBiQSJFLBTEJFOJOJPHZWFOJNP PTPDJBMJOʋTJTUFNBQSJ WFSTUBJFØLPUJOBVKʳ QFSJNUJJØ7BLBSʳ SFGPSNVPUJJSUʍTUJTPWJFUJOJPMBJLPUBSQJP QBUZSJNʂ TVLVSUJOBVKBTBSTVHSʂßJOUJQSJFØLBSJOFT JOTUJUVUʳGVOLDJPOBWJNP QSJFNPOJʳ QBUFOLJOBOʅJʳWJTVPNFOʋTQPSFJLJVTCFJMʲLFTʅJVTJSHBMJOʅJʳVß UJLSJOUJTPDJBMJOʍQVTJBVTWZSʂ/PST-JFUVWPKFZSBUFPSJOJʳCBOEZNʳ NʋHJOBOʅJʳ QFSJPEJ[VPUJSFWPMJVDJOʍJSFWPMJVDJOʍ-JFUVWPTWJTVPNFOʋTSBJEʂ CFUWBSHV BSØJBOEJFOCʲUʳʖNBOPNBOFUTJNCPMJØLBJOVTUBUZUJQPTPWJFUJOJPQFSFJOBNPKP MBJLPUBSQJPQBCBJHʂ OPSTBUFJUZKF BJØLJBVTVWPLʍQBTJLFJUJNʳNBTUʂ TWBSCJBVTJʂ KʳLSZQUʖ QBTJSJOLʍLSJUFSJKVT WFJLJBVTJBJHBMʋTJNFʖWBSEZUJJSTJNCPMJOʍQFSʋKJNP QBCBJHʂ5VSJOUNJOUZKF LBEEBVHVNBQPTPDJBMJTUJOJʳWJTVPNFOJʳUSPØLPʖTUPUJʖ &VSPQPT4ʂKVOHʂ WFJLJBVTJBJSFJLʋUʳLBMCʋUJBQJFTJFLJVTQSJBSUʋUJQSJFUBNUJLSP WʋMZWPTJPTNPEFSOZCʋTWJTVPNFOʋTNPEFMJP (BMVUJOJT ØJ˕ QPTMJOLJ˕ 3ZU˕ &VSPQPT  SBNZCʭT UBØLBT SFTUJOH QPJOU  EBSUJLCVTßJOPNBT UBʧJBVBQTLSJUBJBUSPEP LBEUJLSBTJTN˔ØJTWZLTUBOF EʭMUP LPLʸNPEFMʸSFJLʭU˕QBTJSJOLUJ3ZU˕&VSPQBJ CFUUPEʭM LBJQUʯTJBOU 

 .BUPOZUʋ*1PTPWJFUJOJPFMJUPMBCJSJOUBJ1m  »BVMBVTLBT 1 . 4PDJBMJOʋ LBJUB NFUPEPMPHJKB JS CFOESPTJPT UFOEFODJKPT  4PDJBMJOJBJ QPLZʧJBJ -JFUVWB 1m   #BMDFSPXJD[-4PDJBMJ[NBT,BQJUBMJ[NBT5SBOTGPSNBDJKB7JMOJVT"MHSBWʋ1   »BVMBVTLBT1.5FOQBU1m 




1PTPWJFUJOJP-JFUVWPTSBJEPTMBJLPUBSQJPTWFJLBUPTTJTUFNPTQSJFßJ˔SPTBQJC˔EJOJNBT

SFGPSNBTQFSJNUJJØLZMBOʧJPTJSBSUʭKBOʧJPTQSJFUBNUJLSPTS˔ØJFTVOJĐLBDJKPT &VSPQPT4ʤKVOHPTGPSNʤ"JØLVWJFOB LBECVWVTJP3ZU˕ØBMJ˕CMPLPTJUVB DJKB LBJKPTTJFLJBEBSLBSUʤQBTJUWJSUJOUJMPLBMJVTQPMJUJOJVTFLPOPNJOJVT  TPDJBMJOJVTJOTUJUVDJOJVTJSLVMU˔SJOJVTNPEFMJVTTUBJHBTVHSJVWVTØBMUPKP LBSPTJTUFNBJ ZSBTVOLJJSCFHBMPQSPCMFNJØLB

»JBOEJFOKBVCʲUʳHBMJNBLBMCʋUJBQJF-JFUVWPTWJTVPNFOʋTTUSVLUʲSJOJVTJS FMHFTJPQPLZʅJVT MFJEßJBOʅJVTJEFOUJĐLVPUJ EWJFKʳ WJTVPNFOʋT TBOLMPEʳ CVWV TJPTTPWJFUJOʋTJSGPSNVPKBNPTEBCBSUJOʋT TJFLJBOʅJPTCʲUJQBOBØJBJʖ&VSPQPT WʋMZWPTJPTNPEFSOZCʋTQPMJUJOJP FLPOPNJOJP TPDJBMJOJPNPEFMJPWJTVPNFOFT  EJEʋKBOUʖ TLJSUVNʂ +BV ʖNBOPNB JØTLJSUJ TPWJFUJOʋT TJTUFNPT  BQJCʲEJOBNPT WBMTUZCJOJPTPDJBMJ[NPTʂWPLB NPEFMʖ ESBTUJØLBJQFSNFUʳQBLFJUVTʖ-JF UVWPTWJTVPNFOʋTSBJEʂWJTBJTQPMJUJOJP TPDJBMJOJP FLPOPNJOJPJSLVMUʲSJOJP HZWFOJNPBTQFLUBJT /PSʋUVNFBULSFJQUJEʋNFTʖUJLʖLFMFUʂTWBSCJʳTPWJFUJOʋTTJTUFNPTCSVPßʳ  LVSJVPTCʲUʳHBMJNBQBWBEJOUJTPWJFUJOʭTNPEFSOJ[BDJKPTUFSNJOV7JTVPNFOʋT TPWJFUJOʋTNPEFSOJ[BDJKPTTBNQSBUBCʲUʳBLUVBMJBQUBSJBNPNTQBDJFOUPmHZEZ UPKP QBDJFOUʳmWBSUPUPKʳBLUZWVNPCFJWJTPTTWFJLBUPTQSJFßJʲSPTJOTUJUVDJOʋT SFGPSNPTUZSJNPUFNPNT OFT414TVEBSPOFBUTLJSJBNʂLJFLWJFOPTNPEFSOJPTJPT WJTVPNFOʋTTJTUFNPTEBMʖ 4USVLUʲSJOJVQPßJʲSJVCVWVTJTPWJFUJOʋJSWBLBSJFUJØLʳKʳJØTJWZTʅJVTJʳØBMJʳ TWFJLBUPTQSJFßJʲSPTTJTUFNPTUVSJUBNUJLSʳVOJWFSTBMJʳCSVPßʳ CʲEJOHʳNP EFSOJʳKʳJOEVTUSJOJʳWJTVPNFOJʳTPDJBMJOʋNTTJTUFNPNT/FQBJTBOUTPWJFUJOʋT JSLBQJUBMJTUJOJʳ7BLBSʳWJTVPNFOJʳSBEJLBMJBJTLJSUJOHʳQPMJUJOJʳJSTPDJPFLPOP NJOJʳTBOUZLJʳTJTUFNʳ TPWJFUJOʋWJTVPNFOʋQSJLMBVTʋUBNQBʅJBNJOEVTUSJOʋT  VSCBOJ[VPUPT CJVSPLSBUJ[VPUPT WJTVTØWJFUJNPMZHJVTTVGPSNBWVTJPTWJTVPNFOʋT UJQVJ  LVSJT BQJCFOESJOUBJ WBEJOBNBT NPEFSOJʂKB JOEVTUSJOF WJTVPNFOF BSCB QJSNʂKBNPEFSOZCFt*OEVTUSJBMJ[NBTZSBFOFSHJKPTJSʖSFOHJNʳQSJUBJLZNBT NBTJØLBJHBNJOUJQSFLFT/PST+"7JS4434ßFOLMJBJTLJSJBTJLJUBJTBTQFLUBJT KPT BCJZSBUFDIOJOʋTJOEVTUSJOʋTWJTVPNFOʋTi/FTVWJTBJT%#FMMPUFJHJOJBJTBQJF 4434HBMJNBCʲUʳTVUJLUJ QBWZ[EßJVJ MBCBJEJTLVUVPUJOBTLMBVTJNBT BSHBMJNB CVWVTJʂ4434WBEJOUJQPJOEVTUSJOFWJTVPNFOF KFJHVKPKFCVWPOFJØQMʋUPUBJS WJTVPUJOBJ SJCPKBNB QBTMBVHʳ CFJ WBSUPKJNP TGFSB  WJT EʋMUP 4PWJFUʳ 4ʂKVOHB OFBCFKPUJOBJCVWPJOEVTUSJOʋWJTVPNFOʋ.PEFSOJBKBJJOEVTUSJOFJWJTVPNFOFJ 

 1SFTUPO181PMJUJDBM$VMUVSBM*EFOUJUZ$JUJ[FOTBOE/BUJPOTJOB(MPCBM&SB-POEPO4BHF1VCMJ DBUJPO1   #FDL6 -BV$I   #FMM%,BQJUBMJ[NPLVMU˔SJOJBJQSJFØUBSBWJNBJ7JMOJVT"MNB-JUUFSB1#FDL6 -BV$I    5FOQBU




-*&567047*460.&/ɪ440$*"-*/ɪ43"*%045*10-0(*;"$*+04130#-&."

CʲEJOHBtQBQSBTUB MJOJKJOʋ JOEVTUSJOʋNPEFSOJ[BDJKB CFTJSFNJBOUJOBDJPOBMJOF WBMTUZCFi 1JSNPTJPT NPEFSOZCʋT WJTVPNFOʋ BQJCʲEJOBNB LBJQ WJFOB LJUʂ QBQJMEBOʅJʳ QBHSJOEJOJʳ JOTUJUVDJKʳ TBOLMPEB  HSJOEßJBNB BQNPLBNV EBSCV  OBDJPOBMJOFWBMTUZCF ØFJNBLBJQCSBOEVPMJV TQFDJĐOJV EBSCP QBTJEBMJKJNV UBSQ MZʅJʳ GPSEJTUJOFHBNZCB NPLTMJOJVSBDJPOBMVNV HSJOEßJBNVLPOUSPMF,JUBJQ UBSJBOU  JOTUJUVDJOʋT UWBSLPT QPßJʲSJV TPWJFUJOʍ WJTVPNFOʍ UJQPMPHJØLBJ CʲUʳ HBMJNBQSJTLJSUJNPEFSOJBKBJWJTVPNFOFJBSCBUJLTMJBVmQJSNBKBJKPTSBJEPTQB LPQBJ5PEʋMOFUFTBOUSBEJLBMJFNTQPMJUJOJBNTJSFLPOPNJOJBNTTLJSUVNBNT WJT EʋMUPBCJFKPNTWJTVPNFOʋNT LBQJUBMJTUJOFJJSWBMTUZCJOJPTPDJBMJ[NP CʲEJOHJ UBNUJLSJTUSVLUʲSJOJBJQBOBØVNBJUVSʋKPEBSZUJQBOBØʳQPWFJLʖʖWBJSJFNTBCJFKʳ TPDJBMJOJʳTJTUFNʳTFLUPSJBNTJSWJTVPNFOʋTHZWFOJNVJ QBWZ[EßJVJ JOEVTUSJB MJ[BDJKBTʂMZHPKBVSCBOJ[BDJKʂ PNʲTʳOBHSJOʋKBNVBUWFKVmTWFJLBUPTQSJFßJʲ SPTTJTUFNBJ.PEFSOJPKJWJTVPNFOʋZSBQMʋUPKBNBGVOLDJØLBJEJGFSFODJKVPKBOU JS JOTUJUVBMJ[VPKBOU BUTLJSBT TPDJBMJOʋT TJTUFNPT TSJUJT  CF UP  KBJ ZSB CʲEJOHPT GVOEBNFOUBMJPTLPOUSPMʋT BJØLVNPJSTBVHVNPJEʋKPTCFJJOTUJUVDJOJBJTJFLJBJ KBTʖHZWFOEJOUJ5BEOFBUTJUJLUJOBJ99BmEFØJNUNFUZKFGVOLDJPOBMJTUJØLBJ NʂTUBOUZT LPOWFSHFODJKPT JS UFDIOJOJP EFUFSNJOJ[NP UFPSJKʳ ØBMJOJOLBJ  QB CSʋßEBNJJØTJWZTʅJVTJʳJOEVTUSJOJʳWJTVPNFOJʳUJQVJCʲEJOHʂGVOLDJOʖSZØʖUBSQ JOEVTUSJOʋT FLPOPNJLPT JS TPDJBMJOʋT TUSVLUʲSPT  EFEVLDJØLBJ QBEBSʋ JØWBEBT BQJFJEFOUJØLVTTUSVLUʲSJOJVTNPEFMJVTCFJSBJEPTQBTFLNFTLBQJUBMJTUJOʋTFJS WBMTUZCJOJP TPDJBMJ[NP WJTVPNFOʋTF  LBJ ØJPT WJTVPNFOʋT QBTJFLT JØWZTUZUPT BEWBODFE JOEVTUSJOʋTWJTVPNFOʋTCʲLMʍ .PEFSOJPKPKFHFSPWʋTWBMTUZCʋTWJTVPNFOʋKFTWFJLBUPTQSJFßJʲSPTTJTUFNB GVOLDJPOVPKBLBJQCʲUJOBTJSTBOUZLJOBJBVUPOPNJØLBTTJTUFNPTTFLUPSJVT LVSJP QBHSJOEJOʋGVOLDJKBZSBBSCBTFSHBNVNPNBßJOJNBT BSCBWJTVPNFOʋTTWFJLBUPT TBVHPKJNBT/PSTBCJGVOLDJKPTTVTJKVTJPT CFUWJFOPTJØEWJFKʳTWFJLBUPTQSJF ßJʲSPTTJTUFNPTGVOLDJKPTQSJPSJUFUPQBTJSJOLJNBTQSJLMBVTPOVPNPEFSOJPTJPT WJTVPNFOʋTSBJEPTQBLPQPT5VPNFUV LBJNPEFSOJBKBJWJTVPNFOFJZQBʅTWBSCJ PSJFOUBDJKBʖHBNZCʂJSNBUFSJBMJOJPHFSCʲWJPQMʋUSʂ KPTTWFJLBUPTQSJFßJʲSPT TJTUFNBBLDFOUVPKBWJTVPNFOʋTTFSHBNVNPNBßJOJNPGVOLDJKʂ5BJOʋSBQSJF 

 #FDL6 -BV$I1/BDJPOBMJOʋWBMTUZCʋ OBUJPOTUBUF QJSNJBVTJBSFJØLJBQPMJUJOʍCFO ESVPNFOʍ UPEʋMWJFOBTJØFTNJOJʳNPEFSOJPTJPTTPWJFUJOʋTWJTVPNFOʋTQSJFØUBSBWJNʳmOBDJPOB MJOʋTWBMTUZCʋTNPEFMJPTVUBQBUJOJNBTTVEBVHJBUBVUF4PWJFUʳ4ʂKVOHPTSFBMZCF5PLJVBUWFKVQPMJUJ OJTtTPWJFUJOʋTMJBVEJFTi ՘ՕՈՌՙ՘ՑՏՐՔՆ՗ՕՋ UBQBUVNBTOFJØWFOHJBNBJLPOēJLUBWP TV FUOPUBVUJØLV UBQBUVNV5BEOFEPNJOVPKBOʅJPTMJFUVWJʳUBVUPTQBTJUJLʋKJNBTJSTBOUZLJTTVTPWJFUJOʋTWBMTUZCʋT TPDJBMJOʋTTJTUFNPTJOTUJUVDJOFUWBSLBJSKPTUFJTʋUVNVKBVJØQBUQSBEßJʳCVWPQSJFØUBSJOHBT UBʅJBV ØJPBTQFLUPNFTʅJBOFOBHSJOʋTJNF   (BMCSBJUI+,&DPOPNJDTBOEUIF1VCMJD1VSQPTF-POEPO"OESF%FVUTDI,FSS$FUBM *OEVTUSJBMJTNBOE*OEVTUSJBM.BOĂF 1SPCMFN PG -BCPVS BOE .BOBHFNFOU JO &DPOPNJD (SPXUI $BNCSJEHF.BTT)BSWBSE6OJWFSTJUZ1SFTT




1PTPWJFUJOJP-JFUVWPTSBJEPTMBJLPUBSQJPTWFJLBUPTTJTUFNPTQSJFßJ˔SPTBQJC˔EJOJNBT

ßBTUJOJTSZØZT PWFJLJBVNPEFSOJPTJPTWJTVPNFOʋTLPNQMFLTPTVEʋUJOʋEBMJT 6#FDLBTØJʂNPEFSOJPTJPTWJTVPNFOʋTSBJEPTQBLPQʂWBEJOBQJSNʤKBNPEFS OZCF "(JEEFOTBTmWʭMZWʤKBNPEFSOZCF %#FMMBTmJOEVTUSJOFNPEFSOJPTJPT WJTVPNFOʋT QBLPQB  P 3 *OHMFIBSUBT m NBUFSJBMJTUJOJ˕ WFSUZCJ˕ NPEFSOZCF +FJHVLBMCBNBBQJFWʭMZWPTJPTNPEFSOZCʭTBSCBBOUSPTJPTNPEFSOZCʭTWJTVPNFOʍ  TWFJLBUPT QSJFßJʲSPT TJTUFNB EJEFTOʖ EʋNFTʖ JNB UFJLUJ WJTVPNFOʋT TWFJLBUPT TBVHPKJNVJ  UPEʋM EBMʖ BUTBLPNZCʋT Vß WJTVPNFOʋT TWFJLBUʂ QFSLFMJB LJUJFNT TPDJBMJOʋTTJTUFNPTTFLUPSJBNTJSQJSNJBVTJBQBʅJBNJOEJWJEVJ"CJFKʳWJTVP NFOJʳUJQʳ414GVOLDJPOVPKBLBJQTBOUZLJOBJBVUPOPNJØLBJOTUJUVDJKB UVSJOUJ TBWJUʂJOTUJUVDJOʍUWBSLʂJSKʂQBHSJOEßJBOʅJʂSBDJPOBMJʂMPHJLʂ CJPNFEJDJOJOʋ  BSCBQTJDIPCJPTPDJBMJOʋMJHPTJSTWFJLBUPTTBNQSBUB ßSUPMJBV CFJTJFLJBʖHZWFO EJOUJTWBSCJBVTJVTHFSPWʋTWBMTUZCʋTQSJODJQVTmVßUJLSJOUJWJTVPUJOʍWJTVPNFOʋT TWFJLBUʂ"CJFKʳWJTVPNFOʋTUJQʳ414WBEPWBVKBTJUBJTQBʅJBJTQSJODJQBJTJSLFMJB UVPT QBʅJVT VßEBWJOJVT m HBSBOUVPUJ WJTVPUJOʖ TWFJLBUPT QSJFßJʲSPT QBTMBVHʳ QSJFJOBNVNʂ TWFJLBUPTQSJFßJʲSPTQBTMBVHʳLPLZCJØLVNʂ QSFWFODJKʂ WJEVUJOʋT UJLʋUJOPTHZWFOJNPUSVLNʋT 75(5 EJEʋKJNʂJSUU"CV414UJQBJZSBTVTJKʍ TVNPEFSOJPTJPTWJTVPNFOʋTSBJEPTFUBQPTBWJUVLPNQMFLTV 1JSNBKBJNPEFSOZCFJCʲEJOHBGVOLDJOʋTJTUFNPTEJGFSFODJBDJKBMFJEßJBBJØLJBJ JSWJFOBSFJLØNJØLBJBQJCSʋßUJTWFJLBUPTQSJFßJʲSPTTJTUFNPTQBTLJSUʖ WFJLMPTCFJ BUTBLPNZCʋTSJCBT1BHSJOEJOJT414VßEBWJOZTmOVPTFLMJBJ QBHBMJOTUJUVDJOʖ BQJCSʋßJNʂHZEZUJTVTJSHJNVT*ØʅJBTFLBʖTJUJLJOJNBT LBEWJTVPNFOʋTTWFJLBUB QSJLMBVTPOVP414 UPEʋMCʲUJOBJOTUJUVDJØLBJTUJQSJOUJJSQMʋTUJTWFJLBUPTQSJF ßJʲSPTTJTUFNʂ 5VP UBSQV WʋMZWPKJ BSCB BOUSPKJ NPEFSOZCʋ TVTJEVSJB TV GVOLDJOʋT EJGF SFODJBDJKPTOFBQJCSʋßUVNV JOTUJUVDJOʋTLPOUSPMʋTTVEʋUJOHVNVJSOFBJØLVNV  TʂMZHPKBNVNPEFSOJPTJPTWJTVPNFOʋTSBJEPTTUJQSʋKBOʅJPTJOEJWJEVBMJ[BDJKPT  HMPCBMJ[BDJKPT MZʅJʳSFWPMJVDJKPT EBMJOJPVßJNUVNP HMPCBMJPTSJ[JLPTJSLJUʳQSP DFTʳ4PDJPFLPOPNJOJPWZTUZNPTJTLBUJOBNBJOEJWJEʳWFSUZCJʳCFJJOEJWJEʳ UBSQVTBWJP TʂWFJLPT LBJUB WʋMZWPKPKF NPEFSOZCʋKF JØLFMJB OBVKVT FGFLUZWBVT JOTUJUVDJKʳGVOLDJPOBWJNPSFJLBMBWJNVT WFSʅJBOʅJVTSBEJLBMJBJLFJTUJQJSNPTJPT NPEFSOZCʋTTWFJLBUPTQSJFßJʲSPTJOTUJUVDJOʍUWBSLʂ "OPU6#FDLP UJSJBOUNPEFSOJPTJPTWJTVPNFOʋTSBJEʂ HBMJNBJEFOUJĐLVPUJ JSOFUFNQJSJØLBJQBHSʖTUJEVJOTUJUVDJOʋTSFBLDJKPTUJQVTʖCFTJLFJʅJBOʅJPTWJTVP NFOʋTJØØʲLJVT7JFOVBUWFKVTPDJBMJOJBJJOTUJUVUBJJSJOEJWJEBJHBMJBLUZWJBJUFJHUJ QJSNPTJPTNPEFSOZCʋTBSCBBSCBMPHJLʂ5PLJʂOVPTUBUʂCʲUʳHBMJNBOFUQB WBEJOUJQJSNPTJPTNPEFSOZCʋTTBWPUJØLVGVOEBNFOUBMJ[NV1BWZ[EßJVJ ØFJNPT 

 #FDL6 -BV$I4FDPOENPEFSOJUZBTBSFTFBSDIBHFOEBUIFPSFUJDBMBOEFNQJSJDBMFYQMPSBUJPOT JOUIFsNFUBDIBOHFAPGNPEFSOTPDJFUZĂF #SJUJTI +PVSOBM PG 4PDJPMPHZ7PM*TTVFT 1m




-*&567047*460.&/ɪ440$*"-*/ɪ43"*%045*10-0(*;"$*+04130#-&."

JOTUJUVDJKPKFJØMJFLBSZØLVTWBJENFOʳQBTJTLJSTUZNBT QVPEVTQMBVOBNPUFSJT P WZSBTQBMJOEʍTQPNBØJOPTLBQPUV TWFJLBUPTQSJFßJʲSPTJOTUJUVDJKPKFEPNJOVPKB NFEJLPDFOUSJOJTJSQBUFSOBMJTUJOJTNFEJLPmQBDJFOUPTBOUZLJT,JUVBUWFKVHBMJ CʲUJQMʋUPKBNJTVEʋUJOHJSFēFLTZWʲTTQSFOEJNBJ LVSJFOBVKPNJTWʋMZWPTJPTNP EFSOZCʋTOFBQJCSʋßUVNPJSBNCJWBMFOUJØLVNPTʂMZHPNJTCʲUʳUFJTJOHFTOJUJFL NBLSP UJFLNJLSPTPDJBMJOʋKFQMPUNʋKF UPEʋMHBMʋUʳCʲUJUBJLPNJJSOBVKJFNT QBSUOFSZTUʋTNPEFMJBNTOFUJLOBDJPOBMJOʋKFQPMJUJLPKF CFUJSTJFLJBNTSFGPS NVPUJCFJTVTUJQSJOUJUBSQUBVUJOʍUFJTʍ1BWZ[EßJVJ WFJLJBVTJBJCʲUʳUFJTJOHJBV WJTVPNFOʋTTWFJLBUPTQMʋUSPTBUßWJMHJV KFJBOUSPTJPTJPTBSCBWʋMZWPTJPTNPEFS OZCʋTMBJLPUBSQJVNFEJLBJOFTVBCTPMJVUJOUʳCJPNFEJDJOJOʋTMJHPTTBNQSBUPTJS TBWPEPNJOVPKBOʅJPTQP[JDJKPT LVSJʂHSJOEßJBØJTBNQSBUB PQBDJFOUʂTVWPLUʳ LBJQQBSUOFSʖ LVSJPMJHBZSBTVTJKVTJTVFQJEFNJPMPHJØLBJTVOLJBJBQJCSʋßJBNBJT JSJLJHBMPOFBJØLJBJTJOEJWJEPHZWFOTFOPTJSBQMJOLPTZQBUVNBJT1BSUOFSZTUʋT TBOUZLJTNFEJLVJOFUJLMFJTUʳʖßFOHUJʖOFNFEJDJOJOʍQBDJFOUPTWFJLBUPTTSJUʖ  OFUJLMFJTUʳTVBCFKPUJTLJSJBNʳWBJTUʳOBVEB KʳØBMVUJOJVQPWFJLJVJSTVUFJLUʳ QBDJFOUVJEJEFTOʍHBMJNZCʍQBTJSJOLUJ CFUJSQBEʋUʳʖUSBVLUJQBDJFOUʂʖTWFJLBUPT QVPTFMʋKJNʂ MFJTUʳQFSLFMUJEBMʖBUTBLPNZCʋTQBʅJBNQBDJFOUVJ 1BUJ NPEFSOJPKJ WJTVPNFOʋ  TVLFMEBNB TBWP USBOTGPSNBDJKʂ JS LVSEBNB TBWPQBʅJPTHSʋTNFT TBWBKBNFQSPKFLUFJØLFMJBWFSUZCJʳJSQPßJʲSJʳLPOēJLUVT 5PLJʂCʲLMʍ6#FDLBTWBEJOBNPEFSOZCʋTQBHSJOEʳJOTUJUVDJOFLSJ[F LVSJPKF GPSNVPKBTJQPSFJLJTQSJJNUJTQSFOEJNVTJSOVCSʋßUJOBVKBTTBWJUBTSJCBT,JUBJQ UBSJBOU  QJSNPTJPT NPEFSOZCʋT BSCBBSCB MPHJLPT ßMVHJNBT OFHBMJ WZLUJ CF USJVLØNP OFTHBMJBVTJBJKJTQBSBMZßJVPUʳJOTUJUVDJOʖWFJLTNʂJSTQSFOEJNʳQSJ ʋNJNʂ#FJOUFMFLUVBMJOʋTJSQSBLUJOʋTWFJLMPTSJCʳOVUSZOJNPOBDJPOBMJOʋKFJS UBSQUBVUJOʋKFQPMJUJLPKF UFJTʋKF NPLTMF WFSTMFCFJFLPOPNJLPKF ZSBEBSWJFOBT EBCBSUJFTJØTLJSUJOJTCSVPßBTmUBJJNQFSBUZWPTQSʍTUJQSJQBßJOJNBT5BʅJBVUPLT TQSFOEJNBT KBV OFHBMJ CʲUJ HSJOEßJBNBT TFOʂKB LBUFHPSJKʳ TJTUFNB BSCB TFOV NPEFSOJPKPNPLTMP UJLSVNV4QSFOEJNBJSFJLBMBVKBOBVKʳMPHJOJʳQBHSJOEʳ JSQSPDFEʲSʳ LVSJPTKBVOFHBMJSFNUJTOFBCFKPUJOVßJOPKJNV OFEWJQSBTNJØLVNV JSTUBOEBSUJOʋTUWBSLPTOVPTUBUPNJT ,BEBOHJNPEFSOJPKJHFSPWʋTWBMTUZCʋUVPQBUNFUVJØMBJLPTBWPTWBSCJBVTJVT UJLTMVT CFULFJʅJBKʳʖHZWFOEJOJNPQSPDFEʲSBTCFJQSJFNPOFT UBSQQJSNPTJPTJS BOUSPTJPTNPEFSOZCʋTFH[JTUVPKBUJFLUBNUJLSJQFSUSʲLJBJ UJFLUʍTUJOVNBT4JFL EBNBTJØSZØLJOUJQJSNPTJPTJSBOUSPTJPTNPEFSOZCʋTQBOBØVNVTJSTLJSUVNVT 6 #FDLBTʖWBSEJKBQBHSJOEJOJVTQSJODJQVT CBTJDQSJODJQMFT JSQBHSJOEJOJVTJOTUJUVUVT CBTJD JOTUJUVUJPOT  "OUSBKBJ NPEFSOZCFJ JØMJFLB CʲEJOHJ UJF QBUZT QJSNPTJPT NPEFSOZCʋTQBHSJOEJOJBJQSJODJQBJBSCBJMHBMBJLJBJJNQFSBUZWBJ LVSJʳPQUJNBMVT 

 5FOQBU1m




/6030%04

%VPNFOʳØBMUJOJBJ -JFUVWPTHZWFOUPKBJ4UBUJTUJLPTEFQBSUBNFOUBT7JMOJVT -JFUVWPTTUBUJTUJLPTNFUSBØUJT4UBUJTUJLPTEFQBSUBNFOUBTQSJF-37ZSJBVTZCʋT7JMOJVT  -JFUVWPTTUBUJTUJLPTNFUSBØUJT4UBUJTUJLPTEFQBSUBNFOUBTQSJF-JFUVWPT3FTQVCMJLPT7Z SJBVTZCʋT7JMOJVT -JFUVWPTTUBUJTUJLPTNFUSBØUJT4UBUJTUJLPTEFQBSUBNFOUBTQSJF-JFUVWPT3FTQVCMJLPT7Z SJBVTZCʋT7JMOJVTm -JFUVWPTTUBUJTUJLPTNFUSBØʧJBJ m $FOUSJOJTTUBUJTUJLPTCJVSBT,BVOBTm7JM OJVT 1JSNJOʭTTWFJLBUPTQSJFßJ˔SPTJSMJHPOJOJ˕SFTUSVLU˔SJ[BDJKBWBSUPUPK˕QBTJUFOLJOJNPTP DJPMPHJOJTUZSJNBT7%64PDJPMPHJKPTLBUFESBUZSJNPBUBTLBJUB 1BDJFOU˕QPßJ˔SJPʸ,BVOPNQTJDIJLPTTWFJLBUPTDFOUSVPTFUFJLJBNBTQBTMBVHBTTPDJPMP HJOJTUZSJNBT7%64PDJPMPHJKPTLBUFESBUZSJNPBUBTLBJUB 1JSNJOʭTTWFJLBUPTQSJFßJ˔SPTJSMJHPOJOJ˕SFTUSVLU˔SJ[BDJKBWBSUPUPK˕QBTJUFOLJOJNPTP DJPMPHJOJTUZSJNBT7%64PDJPMPHJKPTLBUFESBUZSJNPBUBTLBJUBN /FʸHBMJ˕K˕QBEʭUJFT-JFUVWPKFWFSUJOJNBT7JTVPNFOʋTOVPNPOʋTJSSJOLPTUZSJNʳDFO USBTt7JMNPSVTi7JMOJVT 1JMJFUJOʋTWJTVPNFOʋTJOTUJUVUBTIUUQFVSPQBFVJOUDPNNQVCMJD@PQJOJPO Bioetikos draugijos ir Pilietinių iniciatyvų centro tyrimo ataskaita "-'TWFUBJOʋ N  &VSPQFBOWBMVFTVSWFZJS IUUQXXXVDEJFJTTEBEBUBTFUJOGPFWTIUN  8PSME7BMVF4VSWFZJS IUUQXXXXPSMEWBMVFTTVSWFZPSH

(BSCBVTLBT 7 JS LU 4VBVHVTJ˕ -JFUVWPT ßNPOJ˕ TWFJLPT HZWFOTFOPT UZSJNBT  IUUQXXXLUMĐBUUBDINFOUTMJUIVBOJB@ĐOCBMUSFQPSUQEG

)VNBO.PSUBMJUZ%BUBCBTF6OJWFSTJUZPG$BMJGPSOJB #FSLFMFZBOE.BY1MBODL*OTUJ UVUFGPS%FNPHSBQIJD3FTFBSDI IUUQXXXNPSUBMJUZPSH 

%PLVNFOUBJ #FOESPTJPT QSBLUJLPT HZEZUPKBT 5FJTʭ  QBSFJHPT  LPNQFUFODJKB JS BUTBLPNZCʭ -JFUVWPT NFEJDJOPTOPSNB./ɔWBEBT #FOESPTJPTQSBLUJLPTTMBVHZUPKPSFOHJNPTUBOEBSUBT1FOLUBTJTQSPGFTJOJPJØTJMBWJOJNP 


/VPSPEPT

MZHJT7JMOJVT-JFUVWPTØWJFUJNPJSNPLTMPNJOJTUFSJKB #FOESPTJPTQSBLUJLPTTMBVHZUPKB TMBVHZUPKBTUFJTʋQBSFJHPT LPNQFUFODJKB BUTBLPNZCʋ ./ɔTBL/S 7BMTUZCʭTßJOJPT/Sm -JFUVWPT3FTQVCMJLPTQTJDIJLPTTWFJLBUPTQSJFßJ˔SPTʸTUBUZNBT/S*m7JMOJVT -JFUVWPTTWFJLBUPTQSPHSBNB-JFUVWPT3FTQVCMJLPT4".IUUQXXXTBNMUMU TBNWFJLMBQSPHSBNPTQSPKFLUBJQSPHSBNB  %ʭMMPLBMBVTNFEJDJOJOJPBVEJUPOVPTUBU˕-JFUVWPT3FTQVCMJLPT4WFJLBUPTBQTBVHPTNJ OJTUFSJKPTʖTBLZNBT/S7BMTUZCʋTßJOJPT/S -JFUVWPT TWFJLBUPT 1SPHSBNB  7BMTUZCʭT ßJOJPT    /S  1VCMJLBDJKPT /S   -JFUVWPTOBDJPOBMJOʭWJTVPNFOʭTTWFJLBUPTQSJFßJ˔SPTTUSBUFHJKBNMJFQPTEOV UBSJNBT/S ÂJO  /Sm  1TJDIJLPTTWFJLBUPTDFOUSPOVPTUBUBJ-JFUVWPT3FTQVCMJLPT7ZSJBVTZCʋ/VUBSJNBT/S  4WFJLBUB4WFJLBUBWJTJFNT99*B1BHSJOEJOJBJ140WJTVPNFOʋTTWFJLBUPTQSJFßJʲSPT QSJODJQBJ&VSPQPTSFHJPOF7JMOJVT-34WFJLBUPTBQTBVHPTNJOJTUFSJKB 4WFJLBUPT QSJFßJ˔SPT LPLZCʭT VßUJLSJOJNP m QSPHSBNB 1BUWJSUJOUB -JFUVWPT 3FTQVCMJLPT4WFJLBUPTBQTBVHPTNJOJTUFSJKPTʖTBLZNV/S7m ĂF 8PSME )FBMUI 3FQPSU.FOUBM)FBMUI/FX6OEFSTUBOEJOH /FX)PQF8PSME )FBMUI0SHBOJ[BUJPO 1SFBNCMFUPUIF$POTUJUVUJPOPG8PSME)FBMUI0SHBOJ[BUJPOBTBEPQUFECZUIF*OUFSOB UJPOBM)FBMUI$POGFSFODF/FX:PSL m+VOFTJHOFEPO+VOFCZ SFQSFTFOUBUJWFTPG4UBUFT8)0 8PSME)FBMUI0SHBOJ[BUJPO    -JVCMJKBOPTDIBSUJKBEʭMTWFJLBUPTBQTBVHPTSFGPSN˕&VSPQPKFNCJSßFMJPNʋO E IUUQTFDMUQBHFTTQS"MG@NPL1SJFEBJ$IBSUJKBIUNM  %FDMBSBUJPO PG "MNB "UB m )FBMUI 1SPNPUJPO *OUFSOBUJPOBM $POGFSFODF PO 1SJNBSZ )FBMUI$BSF"MNB"UB6443 m4FQUFNCFS  )FBMUIUIFIFBMUIGPSBMMQPMJDZGSBNFXPSLGPSUIF8)0&VSPQFBO3FHJPO )VNBOEFWFMPQNFOUJOEFY IUUQFOXJLJQFEJBPSHXJLJ&VSPQFBO@6OJPO@TUBUJTUJDT  0UUBXB$IBSUFSGPS)FBMUI1SPNPUJPO(FOFWB8)0

/BVEPUB-JUFSBUʲSB "CFSDSPNCJF/JSLUĂF 1FOHVJO %JDUJPOBSZ PG 4PDJPMPHZ )BSNPOETXPSUI1FOHVJO #PPLT1 "MFLOB31TJDIJLPTTWFJLBUPTQSJFßJʲSPTPSHBOJ[BWJNBT1TJDIJBUSJKB7JMOJVT7BJTUʳ ßJOJPT1 "MFYJVT # FU BM 1BUJFOU 4BUJTGBDUJPO XJUI UIF *OGPSNBUJPO 1SPWJEFE BU B 1TZDIJBUSJD &NFSHFODZ6OJU1BUJFOU&EVDBUJPOBOE$PVOTFMJOH/P1m "OEFSTFO3BOE0 "OEFSTFO85SFOETJOUIFVTFPGIFBMUITFSWJDFT)BOECPPL PG.FEJDBM4PDJPMPHZUIFE)'SFFNBO 4-FWJOF -3FFEFS FET /FX+FSTFZ 1SFOUJDF)BMM1m "OOBOEBMF&ĂF 4PDJPMPHZ PG )FBMUI BOE .FEJDJOF B $SJUJDBM *OUSPEVDUJPO-POEPO 


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

#MBDLXFMM1VCMJTIFST-UE "SFOEU)5PUBMJUBSJ[NPJØUBLPT7JMOJVT5ZUPBMCB #BEJOUFS&"QJFWZSJØLʤKʤUBQBUZCʯ7JMOJVT7BHB #BMDFSPXJD[-4PDJBMJ[NBT,BQJUBMJ[NBT5SBOTGPSNBDJKB7JMOJVT"MHSBWʋ #BMUSVØBJUZUʋ(ĂFPSJ[JOH .FOUBM %JTPSEFS " 4PDJPMPHJDBM "QQSPBDI4PDJPMPHJKB .JOUJTJSWFJLTNBT/S1m #BMUSVØBJUZUʋ(1TJDIJBUSPmQBDJFOUPTBOUZLJBJQJSNJOʭKFQTJDIJLPTTWFJLBUPTQSJFßJ˔SPKF 4PDJPMPHJKB.JOUJTJSWFJLTNBT,MBJQʋEB,64PDJPMPHJKPTLBUFESB/S #BOLBVTLBJUʋT7 4BBSFMNB08IZBSFQFPQMFEJTTBUJTĐFE XJUI NFEJDBM DBSF TFSWJDFT JO -JUIVBOJB "RVBMJUBUJWFTUVEZVTJOHSFTQPOTFTUPPQFOFOEFERVFTUJPOT*OUFSOBUJP OBM+PVSOBMGPS2VBMJUZJO)FBMUI$BSF/P1m #BSIBN1$MPTJOHUIF"TZMVN-POEPO1FOHVJO#PPLT #BSLFS%" 0SSFMM.8ĂF 1TZDIJBUSJD $BSF 4BUJTGBDUJPO 2VFTUJPOOBJSF B 3FMJB CJMJUZBOE7BMJEJUZ4UVEZ4PDJBM1TZDIJBUSZBOE1TZDIJBUSJD&QJEFNJPMPHZ/P 1m #BSLFS%"FUBM1BUJFOUT7JFXT5PXBSET$BSF3FDFJWFE'SPN1TZDIJBUSJTUT#SJUJTI +PVSOBMPG1TZDIJBUSZ/P1m #BSSZ$" 4UFWFOTPO'"#SJUUFO/ #BSCFS/ #SBEMFZ$1(JWJOH7PJDFUPUIF -JGFXPSME.PSF)VNBOJTUJD .PSF&ćFDUJWF .FEJDBM $BSF " 2VBMJUBUJWF 4 4UVEZ PG%PDUPSm1BUJFOU$PNNVOJDBUJPOJO(FOFSBM1SBDUJDF4PDJBM4DJFODFBOE.FEJ DJOF&MTFWJFS4DJFODF7PM1m #BVESJMMJBSE+4JNVMJBLSBJJSTJNVMJBDJKB7JMOJVT#BMUPTMBOLPT #BVNBO;ĂJOLJOH 4PDJPMPHJDBMMZ0YGPSE#MBDLXFMM #FDL6 -BV$I4FDPOENPEFSOJUZBTBSFTFBSDIBHFOEBUIFPSFUJDBMBOEFNQJSJDBM FYQMPSBUJPOTJOUIFsNFUBDIBOHFAPGNPEFSOTPDJFUZĂF#SJUJTI+PVSOBMPG4PDJP MPHZ7PM*TTVFT #FDL 6 3JTL 4PDJFUZ 5PXBSE B /FX .PEFSOJUZ -POEPO 4BHF 1VCMJDBUJPO  <> #FMM%,BQJUBMJ[NPLVMU˔SJOJBJQSJFØUBSBWJNBJ7JMOJVT"MNBMJUUFSB #FMM % ĂF $PNJOH PG 1PTU*OEVTUSJBM 4PDJFUZ " 7FOUVSF JO 4PDJBM 'PSFDBTUJOH #BTJD #PPLT #FMM4UĂF %FWFMPQNFOU PG .PEFSO )FBMUI 1SPNPUJPO  ĂF 4PDJBM 4JHOJĐDBODF PG )FBMUI1SPNPUJPO&EĂ ) .BD%POBME -POEPO 3PVUIMFEHF  #FOESVPNFOʭT BLUZWJOJNBT TQSFOEßJBOU TWFJLBUPT QSJFßJ˔SPT FUJOFT QSPCMFNBT ,.6  -JFUVWPTTBWJWBMEZCJʳBTPDJBDJKB SBOLSBØUJT  #FSHFS14PDJPMPHJKBmUBJOFLWJFUJNBT 4PDJPMPHJKB.JOUJTJSWFJLTNBT/S 1m #FSOBSE+ĂF 'FNBMF 8PSME/FX:PSL'SFF1SFTT #PPO) 4UFXBSU.1BUJFOU1IZTJDJBO$PNNVOJDBUJPO"TTFTTNFOU*OTUSVNFOUT UPJO3FWJFX1BUJFOU&EVDBUJPOBOE$PVOTFMMJOH/P1m #PVSEJFV1 1BTTFSPO+$3FQSPEVDUJPO-POEPO4BHF #PXMJOH " 3FTFBSDI .FUIPET JO )FBMUI *OWFTUJHBUJOH )FBMUI BOE )FBMUI 4FSWJDFT #VDLJOHIBN0QFO6OJWFSTJUZ1SFTT #SFF[F+$BO1BUFSOBMJTN#F+VTUJĐFE JO .FOUBM )FBMUI $BSF  +PVSOBMPG"EWBODFE 


/VPSPEPT

/VSTJOH7PM1m#MBDLXFMM4DJFODF-UE 6, #SJOL.VJOFOWBOEFO"FUBM%PDUPS1BUJFOU$PNNVOJDBUJPOJO%JćFSFOU &VSPQFBO )FBMUI$BSF4ZTUFNT3FMFWBODFBOE1FSGPSNBODFGSPNUIF1BUJFOUT1FSTQFDUJWF 1BUJFOU&EVDBUJPOBOE$PVOTFMJOH/P1m #VʅJʲOJFOʋ*JSLU-JHPOJOʋTNFEJDJOPTQFSTPOBMPJSQBDJFOUʳWFSUJOJNBJBQJFNFEJLʳ MJHPOJOʋKFUFJLJBNBTQBTMBVHBT.FEJDJOB/S1m #VEWZUJFOʋ ( *FØLPNB LBMUʳ EʋM QSBTUʳ TWFJLBUPT SPEJLMJʳ  ,BVOP EJFOB  N MBQLSJʅJPE #VEWZUJFOʋ(»FJNPTHZEZUPKBTmHFSJBVTJBTESBVHBT,BVOPEJFOBNTQBMJP E #VSZ . )FBMUI BOE *MMOFTT JO $IBOHJOH 4PDJFUZ -POEPO BOE /FX :PSL 3PVUMFEHF  #VTĐFME + .BOBHJOH.BEOFTT$IBOHJOH*EFBTBOE1SBDUJDF-POEPO6OXJO)ZNBO  #VTĐFME + .FO  8PNFO BOE .BEOFTT 6OEFSTUBOEJOH (FOEFS BOE .FOUBM %JTPSEFS -POEPO.BDNJMMBO1SFTT-UE1 $BNFSPO& #FSOBSEFT+(FOEFSBOEEJTBEWBOUBHFJOIFBMUINFOTIFBMUIGPSBDIBO HFĂF 4PDJPMPHZ PG )FBMUI *OFRVBMJUJFT FE .#BSUMFZ %#MBOF (4NJUI0Y GPSE1 $BSMTPO1"O6OIFBMUIZ%FDBEF"4PDJPMPHJDBM4UVEZPGUIF4UBUFPG1VCMJD)FBMUI JO3VTTJBm"DUB6OJWFSTJUBUJT4UPDLIPMNJFOTJT4UPDLIPMN4UVEJFTJO 4PDJPMPHZ $BSQFOUFS8 (PME+ -BIUJ"FUBM%FDJTJPOBMDBQBDJUZGPSJOGPSNFEDPOTFOUJOTDIJ [PQISFOJBSFTFBSDI"SDIJWFTPG(FOFSBM1TZDIJBUSZ7PM1m $PDLFSIBN8$.FEJDBM4PDJPMPHZ/FX+FSTFZ1SFOUJDF)BMM $PDLFSIBN8$ ,VO[( -VFTDIFO(4QBFUI+-4PDJBM4USBUJĐDBUJPO BOE TFMG NBOBHFNFOUPG)FBMUI+PVSOBMPG)FBMUIBOE4PDJBM#FIBWJPVS7PM1 m $PZMF+&YQMPSJOHUIF.FBOJOHPG%JTTBUJTGBDUJPOXJUI)FBMUI$BSFUIF*NQPSUBODF PG 1FSTPOBM *EFOUJUZ ĂSFBU  4PDJPMPHZ PG )FBMUI BOE *MMOFTT /P   1 m $PZMF+ 8JMMJBNT#4FFJOHUIF8PPEGPSUIF5SFFT%FĐOJOH UIF 'PSHPUUFO $PODFQU PG 1BUJFOU%JTTBUJTGBDUJPOJOUIF-JHIUPG1BUJFOU4BUJTGBDUJPO3FTFBSDI*OUFSOBUJPOBM +PVSOBMPG)FBMUI$BSF2VBMJUZ"TTVSBODF/P1JJY $PMMJOT3 .BLPXTLZ.ĂF %JTDPWFSZ PG 4PDJFUZ 'JĔI FE  /FX :PSL .D (SBX)JMM *OD $POSBE1 4DIOFJEFS+8%FWJBODFBOE.FEJDBMJ[BUJPO'SPN#BEOFTTUP4JDLOFTT 1IJMBEFMQIJB5FNQMF6OJWFSTJUZ1SFTT $PSSJHBO17 'BCFS% 3BTIJE' -FBSZ.ĂF $POTUSVDU 7BMJEJUZ PG &NQPXFSNFOU "NPOH$POTVNFSTPG.FOUBM)FBMUI4FSWJDFT4DIJ[PQISFOJB3FTFBSDI7PM&MTF WJFS4DJFODF-UE 6,1m $PTFS-"ĂF 'VODUJPOT PG 4PDJBM $POēJDU/FX:PSLĂF 'SFF 1SFTT  <> $SPTTMFZ/.BLJOH4FOTFPG4PDJBM.PWFNFOU#VDLJOHIBN0QFO6OJWFSTJUZ1SFTT  


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

$SPTTMFZ/-BJOH3%BOEUIF#SJUJTI"OUJ1TZDIJBUSZ.PWFNFOUB4PDJP)JTUPSJDBM "OBMZTJT4PDJBM4DJFODFBOE.FEJDJOF/P1m ɂFSOJBVTLBT(4WFJLBUPTQSJFßJʲSPTĐOBOTBWJNP SFGPSNB  1JSNBTJTSFGPSN˕EFØJNU NFUJT TWFJLBUPT QSJFßJ˔SPT TFLUPSJVT TPDJBMJOJ˕FLPOPNJOJ˕ QPLZʧJ˕ LPOUFLTUF 7JM OJVT4WFJLBUPTFLPOPNJLPTDFOUSBT %BCBSUJOJTMJFUVWJ˕LBMCPTßPEZOBT7JMOJVT.JOUJT %BISFOEPSG33FēFDUJPOT PO UIF 3FWPMVUJPO JO &VSPQF *O B MFUUFS JOUFOEFE UP IBWF CFFO TFOUUPHFOUMFNFOJO8BSTBX-POEPO$IBUUPBOE8JOEVT %BSISFOEPSG3"ĔFS  .PSBMT 3FWPMVUJPOBOE$JWJM4PDJFUZ4U"OUIPOZT$PMMFHF  0YGPSE %BISFOEPSGBT3$MBTTBOE$MBTT$POēJDU JO *OEVTUSJBM 4PDJFUZ-POEPO3PVUMFEHFBOE ,FHBO1BVM1m %FHVUJT.-JFUVWPTQPMJUJOʋLVMUʲSBWJTVPNFOʋTLBJUPTTʂMZHPNJT1PMJUJOʭLVMU˔SBJS WJTVPNFOʭTLBJUB3FE"+BOLBVTLBT7JMOJVT ,BVOBT/BVKBTJTMBOLBT %FNCJOTLBT" (PØUBVUBJUʋ.JEUUVO/»J[PGSFOJKPTTQFLUSPTVUSJLJNBJ1TJDIJBUSJKB 4VE"%FNCJOTLBT7JMOJVT7BJTUʳßJOJPT1m %FMMB1PSUB% %JBOJ%4PDJBM.PWFNFOUBO*OUSPEVDUJPO0YGPSE#MBDLXFMM %FNPHSBĐKPT NFUSBØUJT7JMOJVT4UBUJTUJLPTEFQBSUBNFOUBTQSJF-37ZSJBVTZCʋT %J.BUUFP. )BZT3ĂF TJHOJĐDBODF PG QBUJFOUAT QFSDFQUJPOT PG QIZTJDJBO DPOEVDU  $PNNVOJUZ)FBMUI7PM1 &ENVOET+ 5VSOFS4#(MPCBMHFOFSBUJPOTTPDJBMDIBOHFJOUXFOUJFUIDFOUVSZĂF #SJUJTI+PVSOBMPG4PDJPMPHZ7PM*TTVFT &EXBSET$FUBM*OWFTUJHBUJPOPGUIF8BZTJOXIJDI1BUJFOUT3FQPSUTPGĂFJS 4BUJTGBD UJPOXJUI)FBMUIDBSFBSF$POTUSVDUFE4PDJPMPHZPG)FBMUIBOE*MMOFTT/P 1m &MTUFS+4PDJBMJOJ˕NPLTM˕FMFNFOUBJ7JMOJVT7BHB &VSPQBJSNFT"UTSFE".BUVMJPOJT7JMOJVT(FSWFMʋ &ZFSNBO 3 .PEFSOJUZ BOE 4PDJBM .PWFNFOUT 4PDJBM 4USBUJĐDBUJPO JO 4PDJPMPHJDBM 1FSTQFDUJWF $BMTT  3BDF  BOE (FOEFS &E # % (SVTLZ 0YGPSE 8FTUWJFX 1SFTT 1m 'JU[QBUSJDL3ĂF "TTFTTNFOU PG 1BUJFOU 4BUJTGBDUJPO  "TTFTTNFOUBOE&WBMVBUJPOPG )FBMUIBOE.FEJDBM$BSF".FUIPET5FYU&E$+FOLJOTPO#VDLJOHIBN0QFO 6OJWFSTJUZ1SFTT1 'PVDBVMU.ĂF #JSUI PG UIF $MJOJD-POEPO5BWJTUPDL 'PVDBVMU."SDIFPMPHZPG,OPXMFEHF-POEPO5BWJTUPDL1 'PVDBVMU.%JTLVSTPUWBSLB7JMOJVT#BMUPTMBOLPT1 'SFJETPO&1SPGFTTJPOPG.FEJDJOF"4UVEZPGUIF4PDJPMPHZPG"QQMJFE,OPXMFEHF$IJ DBHP6OJWFSTJUZPG$IJDBHP1SFTT1 (BCF+ #VSZ. &MTUPO./,FZ$PODFQUJO.FEJDBM4PDJPMPHZ-POEPO4BHF1VCMJ DBUJPO1m (BM0S& "NJU3%PFT&NQPXFSNFOU-FBEUP)JHIFS2VBMJUZBOE1SPĐUBCJMJUZ  +PVSOBMPG&DPOPNJD#FIBWJPSBOE0SHBOJ[BUJPO7PM6,&MTFWJFS4DJFODF-UE 1m (BMCSBJUI+,&DPOPNJDTBOEUIF1VCMJD1VSQPTF-POEPO"OESF%FVUTDI 


/VPSPEPT

(JEEFOT"ĂF $POTFRVFODFT PG .PEFSOJUZ$BNCSJEHF1PMJUZ1SFTT   (JEEFOT".PEFSOJUZBOE4FMG*EFOUJUZ4FMGBOE4PDJFUZJOUIF-BUF.PEFSO"HF4UBO GPSE $BMJGPSOJB4UBOGPSE6OJWFSTJUZ1SFTT (JEEFOT".PEFSOZCʭJSBTNFOTUBQBUVNBT7JMOJVT1SBEBJ (PćNBO & "TZMVNT/FX:PSL"ODIPS#PPLT (PØUBVUBT"-JFUVWPTHZWFOUPKʳTBWPTWFJLBUPTTVWPLJNPUZSJNBJm'JMP TPĐKB 4PDJPMPHJKB/S (PØUBVUBT".FEJDJOJOʋTQTJDIPMPHJKPTJSTPDJPMPHJOJʳUZSJNʳMBCPSBUPSJKBJm4P DJPMPHJKBBVLØUPKPKFNPLZLMPKF,BVOBT5FDIOPMPHJKB (PVMEOFS"ĂF $PNJOH $SJTJT PG 8FTUFSO 4PDJPMPHZ/FX:PSL#BTJD#PPL (SBCBVTLBT7,BVOP3PUFSEBNPFQJEFNJPMPHJOʋTQSPHSBNPTJOEʋMJTQMʋUPKBOUUBSQ UBVUJOJVT ,BVOP NFEJDJOPT BLBEFNJKPT SZØJVT  .FEJDJOB 5   /S   1 m (SBCBVTLBT74WFJLBUPTQPMJUJLPTQMʋUPKJNBT-JFUVWPKF1JSNBTJTSFGPSN˕EFØJNUNF UJTTWFJLBUPTQSJFßJ˔SPTTFLUPSJVTTPDJBMJOJ˕FLPOPNJOJ˕QPLZʧJ˕LPOUFLTUF7JMOJVT 4WFJLBUPTFLPOPNJLPTTFLUPSJVT1 (SBCBVTLBT7JSLU-JFUVWPTTWFJLBUPTQSPHSBNB7JMOJVT (SBZ-$POTVNFS4BUJTGBDUJPOXJUI1IZTJDJBO1SPWJEFE4FSWJDFTB1BOFM4UVEZ4P DJBM4DJFODFTBOE.FEJDJOF/P1 (SJTXPME8$VMUVSFBOE4PDJFUZJO$IBOHJOH8PSME-POEPO /FX%FMIJ1JOF'PSHF 1SFTT )BCFSNBT + ĂF ĂFPSZ PG $VNNVOJDBUJWF "DUJPO 7PM  4ZTUFN BOE -JGFXPSME  )BNNBO+ -FVDIU4 ,JTTMJOH84IBSFEEFDJTJPONBLJOHJOQTZDIJBUSZ"DUB1TZ DIJBUSJDB4DBOEJOBWJDB7PM#MBDLXFMM.VOHTHBBSE1m )BSEFZ.ĂF 4PDJBM $POUFYU PG )FBMUI#VDLJOHIBN 1IJMBEFMQIJB0QFO6OJWFSTJUZ 1SFTT1m )FMTJOLJPLPOGFSFODJKBt1TJDIJLPTTWFJLBUBQSPCMFNPTJSKʳTQSFOEJNPCʲEBJi/FSW˕ JSQTJDIJLPTMJHPT/S *OHMFIBSU3.PEFSOJ[BUJPOBOEQPTUNPEFSOJ[BUJPO$VMUVSBM&DPOPNJDBOE1PMJUJDBM $IBOHFJO4PDJFUJFT/FX+FSTFZ1SJODFOUPO6OJWFSTJUZ1SFTT *OHMFIBSU3 8FM[FM$I.PEFSOJ[BUJPO $VMUVSBM$IBOHF BOE%FNPDSBDZĂF )VNBO %FWFMPQNFOU4FRVFODF$BNCSJEHF$BNCSJEHF6OJWFSTJUZ1SFTT *OGPSNBDJOʭNFEßJBHBBQJF-JFUVWPTSPN˕UBVUJOʯNBßVNʤ,BVOBT3PNʳCFOESJKPT TʂKVOHBt3PNʳNJTJKBi +BOJLPWB7ɤJHPOBJ-JFUVWPKFXXXTPDJVNBTMU +BOLBVTLJFOʋ%4WFJLBUPTSFGPSNPTQPWFJLJTHZWFOUPKʳTWFJLBUBJTWFJLBUPTQSJFßJʲSPT QBTMBVHʳQSJFJOBNVNBTJSLPLZCʋ7JTVPNFOʭTTWFJLBUB/S  1m +BTJMJPOJT%-JFUVWPTHZWFOUPKʳNJSUJOHVNPSBJEBmFQJEFNJPMPHJOJPQFSʋKJNPUFPSJ KPTJØJNUJT'JMPTPĐKB TPDJPMPHJKB/S1m +FćSZT . 4BDIT ) 3FUIJOLJOH(FOFSBM1SBDUJDF-POEPO5BWJTUPDL +FOLJOTPO$"TTFTTNFOUBOE&WBMVBUJPOPG)FBMUIBOE.FEJDBM$BSFBO*OUSPEVDUJPO BOE0WFSWJFX"TTFTTNFOUBOE&WBMVBUJPOPG)FBMUIBOE.FEJDBM$BSF".FUIPET 5FYU&E$+FOLJOTPO#VDLJOHIBN0QFO6OJWFSTJUZ1SFTT1m 


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

+POLBSZUʋ""OUSPKPEFNPHSBĐOJP QFSʋKJNPUFPSJKPTCSVPßBJ'JMPTPĐKB TPDJPMPHJKB /S1m +VLOFWJʅJVT44LJSUJOHVNPEJNFOTJKPT-JFUVWPT(ZWFOUPK˕WFSUZCʭTFVSPQJOJBNFLPO UFLTUF7JMOJVT(FSWFMʋ ,BB%7BOEF+&VSPQFT4FDPOE%FNPHSBQIJD5SBOTJUJPO1PQVMBUJPO#VMMFUJO/P 7PM .BSDI1m ,BB%7BOEF+&VSPQBBOEJUTQPQVMBUJPOUIF-POHWJFX&VSPQFBOQPQVMBUJPO 6OJUZ JO %JWFSTJUZ &E CZ % + WBO EF ,BB  ) -FSJEPO  ( (FTBOP  . 0LPMTLJ -POEPO,MVXFS"DBEFNJD1VCMJTIFST7PM ,BJSZT+(ZWFUPKʳTWFJLBUPTCʲLMʋ1SBOFØJNBTBQJFßNPHBVTTPDJBMJOʯSBJEʤ-JFUVWPKF 7JMOJVT1m ,BJSZT+4WFJLBUPTBQTBVHBWBMTUZCʋTWBJENVPJSQSJWBUJJOJDJBUZWB1SBOFØJNBTBQJF ßNPHBVTTPDJBMJOʯSBJEʤ-JFUVWPKF7JMOJVT ,BJSZT+%FNPHSBĐOʋ TJUVBDJKB -JFUVWPKF m N  1JSNBTJTSFGPSN˕EFØJNUNF UJTTWFJLBUPTQSJFßJ˔SPTTFLUPSJVTTPDJBMJOJ˕FLPOPNJOJ˕QPLZʧJ˕LPOUFLTUF7JMOJVT 4WFJLBUPTFLPOPNJLPTTFLUPSJVT ,BJSZT+(VSFWJʅJVT34WFJLBUPTQSJFßJʲSPTQSJFJOBNVNPTLJSUVNBJQSPCMFNPT7JM OJBVTNJFTUF.FEJDJOB5/S1m ,BJSZT+JSLU"NCVMBUPSJOʋTTWFJLBUPTQSJFßJʲSPTQBTMBVHʳQPSFJLJPCFJLPLZCʋTWFS UJOJNBT-JFUVWPTEJEßJVPTJVPTFNJFTUVPTF SBKPOʳDFOUSVPTF LBJNVPTFCFJNJFTUF MJVPTF.FEJDJOB/S1m ,BOPQJFOʋ7.PUFSZTEBSCPSJOLPKFQBEʋUJTJSQSPCMFNPT-JFUVWPTØFJNB7JMOJVT m ,BWPMJT7,VMU˔SPTEJSCUVWʭ7JMOJVT#BMUPTMBOLPT ,BWPMJT 7 .PUFSZT JS WZSBJ MJFUVWJ˕ LVMU˔SPKF 7JMOJVT -JFUVWPT LVMUʲSPT JOTUJUVUBT  ,FMMFIFS%4FMGIFMQHSPVQTBOEUIFJSSFMBUJPOTIJQUPNFEJDJOF$IBMMFOHJOH.FEJDJ OF&ET+(BCF %,FMMFIFS (8JMMJBN-POEPO3PVUMFEHF1m ,FSS$FUBM*OEVTUSJBMJTNBOE*OEVTUSJBM.BOĂF 1SPCMFN PG -BCPVS BOE .BOBHF NFOUJO&DPOPNJD(SPXUI$BNCSJEHF .BTT)BSWBSE6OJWFSTJUZ1SFTT ,MBVT)%SVHFMJBJQSJFMJHPOJPMPWPT7JMOJVT"MNBMJUUFSB ,OBVT8"*OTJEF3VTTJBO.FEJDJOF#PTUPO#FBDPO1SFTT ,SVQBU&FUBMĂF 1SBDUJDF 0SJFOUBUJPOT PG 1IZTJDJBOT BOE 1BUJFOUT UIF &ćFDU PG %PD UPS1BUJFOU$POHSVFODFPO4BUJTGBDUJPO1BUJFOU&EVDBUJPOBOE$PVOTFMMJOH /P1m ,VMU˔SPMPHJKB3FE".BUVMJPOJT57JMOJVT(FSWFMʋ -BOF % 'VMM &NQMPZNFOU BOE -BCPS 6UJMJ[BUJPO JO UIF 6443  6OEFSTUBOEJOH 4P WJFU 4PDJFUZ 4BDLT . 1 BOE 1BOLIVSUT FET  #PTUPO 6OXJO )ZNBO  1 m -FPOBWJʅJVT7 1MJFTLJT. 1FUSBVTLJFOʋ+1PLZʅJBJQJSNJOʋKFTWFJLBUPTQSJFßJʲSPKF (ZWFOUPKʳQBTJUFOLJOJNBTQBTMBVHPNJT-JFUVWPTCFOESPTJPTQSBLUJLPTHZEZUPKBT 5/S1m -FPOBWJʅJVT7 1MJFTLJT. 1FUSBVTLJFOʋ+1BDJFOUʳm1#(TBOUZLJTJSQBTJUFOLJOJNBT QBTMBVHB4PDJPMPHJKB.JOUJTJSWFJLTNBT/S 


/VPSPEPT

-FPOBWJʅJVT74PDJPMPHJKPTSFDFQDJKB-JFUVWPKFTWFJLBUPTTPDJPMPHJKPTBUWFKJT'JMPTP ĐKB 4PDJPMPHJKB/S -FPOBWJʅJVT7»JVPMBJLJOʋT-JFUVWPTWBSUPUPKPQSPĐMJT  4PDJPMPHJKB.JOUJTJSWFJLTNBT /S1m -FPOBWJʅJVT7 ,FUVSBLJT44PWJFUJOʋHMPCBMJPKJNPEFSOZCʋJS HMPCBMVNPMPLBMVNP TVWPLJNBT TPWJFUJOʋKF -JFUVWPKF  4PDJPMPHJKB .JOUJT JS WFJLTNBT /S   1 m -FPOBWJʅJVT7"QMJOLPTBVHJOJTSʲQFTUJTLBJQNBUFSJBMJTUJOJʳJSQPTUNBUFSJBMJTUJOJʳWFS UZCJʳLSJUFSJKVT)VNBOJTUJLB/S1m -FPOBWJʅJVT77JTVPNFOʋTEBMZWBWJNBTCVJUJOJʳBUMJFLʳUWBSLZNFLBJQTPDJBMJOʋTLBJ UPTLSJUFSJKVT"QMJOLPTUZSJNBJ JOßJOFSJKBJSWBEZCB/S -JOL#$ 1IFMBO+$$PODFQUVBMJ[JOH4UJHNB"OOVBM3FWJFXTJO4PDJPMPHZ/P 1m -JFUVWPT HZWFOUPK˕ QPMJUJLPT TUSBUFHJKPT NFUNFOZT "UT SFE 7 4UBOLʲOJFOʋ 7JMOJVT  -JVCBSTLJFOʋ;JSLU1BDJFOUʳQBTJUJLʋKJNBTTWFJLBUPTQSJFßJʲSB.FEJDJOB/S 1m -ZPUBSE+'1PTUNPEFSOVTC˔WJT7JMOJVT#BMUPTMBOLPT -VQUPO%1TZDIPBOBMJUJD4PDJPMPHZBOEUIFNFEJDBMFODPVOUFS1BSTPOTBOECFZPOE 4PDJPMPHZPG)FBMUIBOE*MMOFTT7PM/S1m -VQUPO%$POTVNFSJTN 3FēFYJWJUZ BOE UIF .FEJDBM &ODPVOUFS4PDJBM4DJFODFBOE .FEJDJOF/S1m .BSY'.1BUSJBSDIFJTBOE'FNJOJTN5XP8PNFOTNPWFNFOUTPG1PTUVOJĐDBUJPO (FSNBOZ4PDJBM1PMJUJDT/P 4QSJOH1m .D$VCCJO. $PIFO%&YUSFNFMZ6OCBMBODFE*OUFSFTU%JWFSHFODFBOE1PXFS%JT QBSJUJFT#FUXFFO$MJFOUTBOE1TZDIJBUSZ*OUFSOBUJPOBM+PVSOBMPG-BXBOE1TZ DIJBUSZ/S1m .BUPOZUʋ*1PTPWJFUJOJPFMJUPMBCJSJOUBJ7JMOJVT,OZHJBJ .BUPOZUʋ*,PMFLUZWJOʋWFJLMBJSTPDJBMJOJBJKVEʋKJNBJ4PDJPMPHJKB4VE7-FPOBWJ ʅJVT,BVOBT7%6MFJEZLMB1m .BZ$ "MMJTPO( $IBQQMF" $IFX(SBIBN$ %JYPO$ (BTL- (SBIBN3 3PH FST "  3PMBOE . 'SBNJOH UIF %PDUPS1BUJFOU 3FMBUJPOTIJQ JO $ISPOJD *MMOFTT B $PNQBSBUJWF 4UVEZ PG (FOFSBM QSBDUJUJPOFST "DDPVOUT  4PDJPMPHZ PG )FBMUI BOE *MMOFTT0YGPSE#MBDLXFMM1VCMJTIJOH-UE7PM .D$MFMMBOE3 4[NVLMFS($POTFOUBOE$BQBDJUZJO1TZDIJBUSJD1SBDUJDF3FWJTJUFE &VSPQFBO+PVSOBMPG)FBMUI-BX/P1m .D$VCCJO. $PIFO%&YUSFNFMZ6OCBMBODFE*OUFSFTU%JWFSHFODFBOE1PXFS%JT QBSJUJFT#FUXFFO$MJFOUTBOE1TZDIJBUSZ*OUFSOBUJPOBM+PVSOBMPG-BXBOE1TZ DIJBUSZ/P1m .D,JOMBZ+ĂF CVTJOFTT PG HPPE EPDUPSJOH PS EPDUPSJOH BT B HPPE CVTJOFTT SFēFD UJPOT PO 'SFJETPOAT WJFX PG UIF NFEJDBM HBNF  *OUFSOBUJPOBM +PVSOBM PG )FBMUI 4FSWJDFT7PM1m .FBE 4  $PQFMBOE .& 8IBU 3FDPWFSZ .FBOT UP 6T $POTVNFST 1FSTQFDUJWFT  $PNNVOJUZ.FOUBM)FBMUI+PVSOBM/P1m 


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

.FDIBOJD%.FEJDBM4PDJPMPHZ/FX:PSLĂF 'SFF 1SFTT  .FDIBOJD%4PDJPMPHJDBM%JNFOTJPOTPG*MMOFTT#FIBWJPS4PDJBM4DJFODFTBOE.FEJ DJOF7PM1m .FSUPO34PDJBMĂFPSZ BOE 4PDJBM 4USVDUVSF/FX:PSL'SFF1SFTT .F[FOUTFWB &  3JNBDIFWTLBKB / ĂF 4PWJFU $PVOUSZ QSPĐMF )FBMUI PG UIF 6443 QPQVMBUJPOJOUIFTBOETm"O"QQSPBDIUPBDPNQSFIFOTJWFBOBMZTJT4PDJBM 4DJFODFTBOE.FEJDJOF7PM1m .JLVMJPOJFOʋ4-JFUVWPTWJTVPNFOʋTEFNPHSBĐOJT TFOʋKJNBT  -JFUVWPTØFJNB7JM OJVTm .JTFWJʅJFOʋ* %SFHWBM-(ZWFOUPKʳOVPNPOʋBQJFQJSNJOʋTTWFJLBUPTQSJFßJʲSPTQB TMBVHBT.FEJDJOB5 /S  .PVUPVTTJT.FUBM2VBMJUZPG$BSFJOB1TZDIJBUSJD0VU1BUJFOU%FQBSUNFOU+PVS OBMPG.FOUBM)FBMUI/P1m .VSBVTLJFOʋ-4WFJLBUPTQSJFßJʲSPTWBMEZNBT1JSNBTJTSFGPSN˕EFØJNUNFUJTTWFJLB UPTQSJFßJ˔SPTTFLUPSJVTTPDJBMJOJ˕FLPOPNJOJ˕QPLZʧJ˕LPOUFLTUF7JMOJVT4WFJLBUPT FLPOPNJLPTDFOUSBT /BWBSP74PDJBM4FDVSJUZBOE.FEJDJOFJOUIF6443-FYJOHUPO /BWBSSP 7 64 .BSYJTU TDIPMBSTIJQ JO UIF BOBMZTJT PG IFBMUI BOE NFEJDJOF  4PDJBM 4DJFODFBOE.FEJDJOF7PM1m /FUUMFUPO4ĂF 4PDJPMPHZ PG )FBMUI BOE *MMOFTT$BNCSJEHF1PMJUZ1SFTT /PCMF-.FUBM8IBUEP1BUJFOUT&YQFDUPG1TZDIJBUSJD4FSWJDFT "4ZTUFNBUJDBOE $SJUJDBM3FWJFXPG&NQJSJDBM4UVEJFT4PDJBM4DJFODFBOE.FEJDJOF/P 1m /PSLVT;3BDJPOBMBVTQBTJSJOLJNPQSJFJHB4PDJPMPHJKPTUFPSJKPT4VE7-FPOBWJʅJVT ,BVOBT7ZUBVUP%JEßJPKPVOJWFSTJUFUPMFJEZLMB1m 0ćFS $ 7BSJFUJFTPG5SBOTJUJPOĂF &BTU &VSPQFBO BOE &BTU (FSNBO &YQFSJFODF$BN CSJEHF1PMJUZ1SFTT 0MFLB+*OUFSWJVTV+0MFLB1JSNBTJTSFGPSN˕EFØJNUNFUJTTWFJLBUPTQSJFßJ˔SPTTFLUP SJVTTPDJBMJOJ˕FLPOPNJOJ˕QPLZʧJ˕LPOUFLTUF7JMOJVT4WFJLBUPTFLPOPNJLPTDFO USBT 0OLFO4+ 4MBUFO&%JTBCJMJUZ*EFOUJUZ'PSNBUJPOBOE"ĊSNBUJPO ĂF &YQFSJFODFT PG1FSTPOTXJUI4FWFSF.FOUBM*MMOFTT4PDJPMPHJDBM1SBDUJDF"+PVSOBMPG$MJOJDBM BOE"QQMJFE4PDJPMPHZ/P1m 0SXFMM(JFKJ7JMOJVT7ZUVSZT 0XFOT%+ #BUDIFMPS$1BUJFOU4BUJTGBDUJPOBOEUIF&MEFSMZ4PDJBM4DJFODFBOE.F EJDJOF/P1m 0YGPSE%JDUJPOBSZPG4PDJPMPHZ(.BSTIBM FE 0YGPSE 1BSTPOT5%FĐOJUJPOT PG )FBMUI BOE *MMOFTT JO UIF -JHIU PG "NFSJDBO 7BMVFT BOE 4P DJBM4USVDUVSF$PODFQUTPG)FBMUIBOE%JTFBTF*OUFSEJTDJQMJOBSZ1FSTQFDUJWFT"- $BQMBOFUBM FE .BTTBDIVTFUUT"EEJTPO8FTMFZ1VCMJDBUJPO$PNQBOZ 1BSTPOT5ĂF 4PDJBM 4ZTUFN/FX:PSLĂF 'SFF 1SFTT $PMMJFS .BDNJMMBO -UE  1BSTPOT5)FBMUI 6ODFSUBJOUZBOEUIF"DUJPO4USVDUVSF6ODFSUBJOUZ#FIBWJPSBMBOE 4PDJBM%JNFOTJPOT4'JEEMF FE /FX:PSL1SBFHFS 1FJʅJVT & -JFUVWPT HZWFOUPKʳ EBMZWBWJNP HBMJNZCʋT QSJJNBOU TWFJLBUPT QSJFßJʲSPT 


/VPSPEPT

TQSFOEJNVT  %BLUBSP EJTFSUBDJKB #JPNFEJDJOJOJBJ NPLTMBJ  WJTVPNFOʭT TWFJLBUB  1FSTQFDUJWFT JO .FEJDBM 4PDJPMPHZ &E 1I #SPXO #FMNPOU  $BMJGPSOJB 8BETXPSUI  1JMHSJN% 3PHFST".FOUBM)FBMUI1PMJDZJO#SJUBJO"$SJUJDBM*OUSPEVDUJPO-POEPO .BDNJMMBO 1JMHSJN% 3PHFST""4PDJPMPHZPG.FOUBM)FBMUIBOE*MMOFTTOEFE#VDLJOHIBN 0QFO6OJWFSTJUZ1SFTT 1JSNBTJTSFGPSN˕EFØJNUNFUJTTWFJLBUPTQSJFßJ˔SPTTFLUPSJVTTPDJBMJOJ˕FLPOPNJOJ˕QP LZʧJ˕LPOUFLTUF7JMOJVT4WFJLBUPTFLPOPNJLPTDFOUSBT 1SJPS-#FMJFG ,OPXMFEHFBOE&YQFSUJTFUIF&NFSHFODFPGUIF-BZ&YQFSUJO.FEJDBM 4PDJPMPHZ4PDJPMPHZPG)FBMUIBOE*MMOFTT/P1m 1SJPS-ĂF 4PDJBM 0SHBOJ[BUJPO PG .FOUBM *MMOFTT-POEPO4"(&1VCMJDBUJPOT 1SPNPUJPOĂ ) .BD%POBME FE  -POEPO 3PVUIMFEHF  1ʲSBT%#FJFØLBOUTVUBSJNPEʋMQTJDIJLPTTWFJLBUPTTUSBUFHJKPT1TJDIJLPTTWFJLBUPT QSJFßJ˔SBOBVKBKBNFBNßJVKF5BSQUBVUJOʭTLPOGFSFODJKPTNFEßJBHB7JMOJVT 1m 3BEBWJʅJVT-"OUJQTJDIP[JOJBJ WBJTUBJ  1TJDIJBUSJKB "%FNCJOTLBT TVE 7JMOJVT 7BJTUʳßJOJPT1m 3FFEFS-(ĂF 1BUJFOU$MJFOU BT B $POTVNFS 4PNF 0CTFSWBUJPOT PO $IBOHJOH 1SP GFTTJPOBM$MJFOU 3FMBUJPOTIJQ  +PVSOBM PG )FBMUI BOE 4PDJBM #FIBWJPVS 7PM  %FDFNCFS  3FJDI81TZDIJBUSJD%JBHOPTJTBTBO&UIJDBM1SPCMFN1TZDIJBUSJD&UIJDT4#MPDI  $IPEPć FE  0YGPSE 6OJWFSTJUZ 1SFTT  1 m 3FJOHBSEJFOʋ+.PUFSʳLBSKFSPTJSØFJNPTEJMFNPT4PDJPMPHJKB.JOUJTJSWFJLTNBT /S 3JU[FS(4PDJPMPHJDBMĂFPSZ/FX:PSL.D(SPX)JMM 3PCFSUT , + 1BUJFOU &NQPXFSNFOU JO UIF 6OJUFE 4UBUFT B $SJUJDBM $PNNFOUBSZ  )FBMUI&YQFDUBUJPOT/P1m 3PTF"DLFSNBO4,PSVQDJKBJSWBMEßJBQSJFßBTUZT QBEBSJOJBJJSSFGPSNB7JMOJVT7BHB  3PXMBOE% 5FMZVLPW"4PWJFU)FBMUI$BSFGSPN5XP1FSTQFDUJWFT)FBMUI"ćBJST  'BMM1m 3VEFSNBO'8IBUJTUIFNFEJDBMTPDJPMPHZ +PVSOBMPGUIF"NFSJDBO.FEJDBM"TTP DJBUJPO7PM1m 4BCBMJBVTLBT37JTVPNFOʋTTWFJLBUPTBQTBVHPTQSJFßJʲSPTUFOEFODJKPT-JFUVWPTTP DJBMJOʭTQBOPSBNPTLPOU˔SBJ7JMOJVT 4DBNCMFS ( )BCFSNBT  $SJUJDBM ĂFPSZ BOE )FBMUI -POEPO  /FX :PSL 3PVUMFEHF  4FDPOE0QJOJPO"O*OUSPEVDUJPOUP)FBMUI4PDJPMPHZ&E+(FSNPW0YGPSE6OJWFSTJUZ 1SFTT1 4FHBM-ĂF *NQPSUBODF PG 1BUJFOU &NQPXFSNFOU JO )FBMUI 4ZTUFN 3FGPSN)FBMUI 1PMJDZ*SFMBOE&MTFWJFS4DJFODF-UE7PM 4IBX*'2VBMJUBUJWF&WBMVBUJPO-POEPOĂPVTBOE 0BLT  


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

4IJMMJOH $SJT $VMUVSF  UIF tTJDL SPMFi BOE UIF DPOTVNQUJPO PG IFBMUI  ĂF #SJUJTI +PVSOBMPG4PDJPMPHZ7PM/S%FDFNCFS 4MBVHBQJSNJOʭKFTWFJLBUPTQSJFßJ˔SPKF4VE%»OJVLBJUʋ7JMOJVT$IBSJCEʋ 4MVØOZT-1PSFJLJʳBOBMJ[ʋ1TJDIJLPTTWFJLBUPTQSJFßJ˔SBOBVKBKBNFBNßJVKF5BSQUBV UJOʭTLPOGFSFODJKPTNFEßJBHB7JMOJVT1m 4NJUI . , &NQPXFSNFOU &WBMVBUJPO ĂFPSFUJDBM BOE .FUIPEPMPHJDBM $POTJEFS BUJPOT&WBMVBUJPOBOE1SPHSBNNJOH1MBOOJOH&MTFWJFS4DJFODF-UE6,7PM 1m 4UBODFZ.ĂF )FBMUI 4FSWJDF $POTVNFS B 4PDJPMPHJDBM .JTDPODFQUJPO  ĂF 4PDJP MPHZPGUIF/)44PDJPMPHJDBM3FWJFX/S,FFMF6OJWFSTJUZPG,FFMF 4UBOLʲOJFOʋ7M'FSUJMJUZ$IBOHFTJO-JUIVBOJB"EBQUBUJPOPS/FX1BUUFSO3FWVF #BMUJRVF/P 4UBOLʲOJFOʋ7M #BVCMZUʋ. ,BOPQJFOʋ7 .JLVMJPOJFOʋ4(JNTUBNVNBTJSØFJNB CJPHSBĐOJT QPßJ˔SJT7JMOJVT 4UBOLʲOJFOʋ7M$IBOHJOH'BNJMZJO-JUIVBOJB'BNJMZBOE'FSUJMJUZ4VSWFZT#SVT TFMT 4UBOLʲOJFOʋ7M%FNPHSBĐOJ˕QSPDFT˕WBMEZNBT5FPSJKBJSQBUZSJNBT7JMOJVT5FDI OJLB "4USBUFHZUP1SFTFOU$ISPOJD%JTFBTFJO&VSPQF"GPDVTPOQVCMJDIFBMUIBDUJPOĂF $*/%*WJTJPO8PSME)FBMUI0SHBOJ[BUJPO 4WFJLBUPTJSTWFJLBUPTQSJFßJ˔SPTTLJSUVNBJ-JFUVWPKF,BVOBT,BVOPNFEJDJOPTVOJWFS TJUFUBT 4[BT[5.ZUIPG.FOUBM*MMOFTT/FX:PSL)PFCFS)BSQFS 4[BT[5 )PMMFOEFS.ĂF #BTJD .PEFMT PG %PDUPSTm1BUJFOT 3FMBUJPOTIJQ  "SDIJWFT JO*OUFSOBUJPOBM.FEJDJOF7PM1m »BVMBVTLBT1.4PDJBMJOʋLBJUBNFUPEPMPHJKBJSCFOESPTJPTUFOEFODJKPT4PDJBMJOJBJ QPLZʧJBJ-JFUVWB7JMOJVT(BSOFMJT1m »JBVMJFʧJBJBUTBSHJBJßJ˔SJʸQTJDIJLPTMJHPOJVTIUUQXXXEFMĐMUOFXTEBJMZ)FBMUIBS UJDMFQIQ JE »JNLVUʋ31BTHZEZUPKʂSFJLJBFJUJJSUVPNFU LBJOJFLPOFTLBVEB,BVOPEJFOB NTBVTJPE ĂF &WJEFODF PG )FBMUI 1SPNPUJPO &ćFDUJWFOFTT 4IBQJOH 1VCMJD )FBMUI JO /FX &VSPQF #SVTTFMT-VYFNCPVSH ĂF ,BVOBT 3PUFSEBN JOUFSWFOUJPO 4UVEZ #FIBWJPVSBM BOE 0QFSBUJP$PNQPOFOUT PO )FBMUI*OUFSWFOUJPO1SPHSBNNFT&ET4(MB[VOPW &%PXE "#BVCJOJOʋ 7(SB CBVTLBT '4UVSNBOT +)4DIVVSNBO0YGPSE ĂF 1FOHVJO %JDUJPOBSZ PG 4PDJPMPHZ / "CFSDSPNCJF FU BM FET  1FOHVJO #PPL  5PXOTFE1 %BWJETPO/*OFRVBMJUJFTJO)FBMUI 5SVTUBOE%FNPDSBUJD5SBOTJUJPOJO1PTU$PNNVOJTU&VSPQF*.BSLPWB FE 0YGPSE 0YGPSE6OJWFSTJUZ1SFTT 5VSOFS#4.FEJDBM1PXFSBOE4PDJBM,OPXMFEHF-POEPO4BHF 7BJʅJFOʋ&,BTMFNJBLPNBOEPTEBSCPTʋLNʍ 4MBVHBJSTWFJLBUB/S 7BMJPOJT"4PDJBMJOJʳJSQPMJUJOJʳWFSUZCJʳLBJUB-JFUVWPKFmNFUBJTBEBQUBWJ 


/VPSPEPT

NBTGSBHNFOUJØLPKFUJLSPWʋKF,VMU˔SPMPHJKB/S7JMOJVT(FSWFMʋ 8FJTT(1BUJFOUT4BUJTGBDUJPOXJUI1SJNBSZ.FEJDBM$BSF&WBMVBUJPOPG4PDJPEFNPH SBQIJDBOE1SFEJTQPTJUJPOBM'BDUPST.FEJDBM$BSF7PM/P"QSJM 1 m 8FJTT-( -POORVJTU-&ĂF 4PDJPMPHZ PG )FBMUI )FBMJOH BOE *MMOFTT-POEPO1SFO UJDF)BMM 8FO[FM$I *OHMFIBSU3-JCFSBMJTN 1PTUNBUFSJBMJTN BOEUIF(SPXUIPG'SFFEPN *OUFSOBUJPOBM3FWJFXPG4PDJPMPHZ7PM/P .BSDI 8JMMJBNT#FUBMĂF .FBOJOH PG 1BUJFOU 4BUJTGBDUJPO BO &YQMPSBUJPO PG )JHI 3FQPS UFE-FWFMT4PDJBM4DJFODFBOE.FEJDJOF/P1m 8JMMJBNT#1BUJFOU4BUJTGBDUJPOmB7BMJE$PODFQU 4PDJBM4DJFODFBOE.FEJDJOF/P 1m 8JMMJBNT4+ (BCF+ $BMOBO.)FBMUI .FEJDJOFBOE4PDJFUZ-POEPO3PVUMFEHF  8ÕUFSCVDIEFS4PDJPMPHJF#BOE4UVUHBSU'FSEJOBOE&OLF ÂʋCJFOʋ&JSLU1BDJFOUPNFEJDJOJOʋTLPOTVMUBDJKPTMʲLFTʅJʳQSJLMBVTPNVNBTOVPTP DJBMJOJʳCFJEFNPHSBĐOJʳQBDJFOUPDIBSBLUFSJTUJLʳ.FEJDJOB/S1 m ÂʋCJFOʋ&JSLUɔHZWFOEJOUJQBDJFOUPMʲLFTʅJBJmQBTJUFOLJOJNBTNFEJLʳLPOTVMUBDJKB .FEJDJOB/S1m ÂZEßJʲOBJUʋ7 +POBVTLJFOʋ%4MBVHZUPKPTWBJENFOTLPNQMFLTJØLVNBTEJSCBOUOFVSP SFBCJMJUBDJKPTLPNBOEPKFUFPSJOJTNPEFMJBWJNBT4WFJLBUPTNPLTMBJ/Sm 1m ÂNPHBVTTPDJBMJOʭSBJEB7JMOJVT)PNPMJCFS ÂVLBT 4 1BTJUJLʋKJNBT m WJFOP QSJWBUJ[BWJNP JTUPSJKB  4PDJBMJOJBJ QPLZʧJBJ -JFUVWB 7JMOJVT(BSOFMJT1m Ԛ՘ՙՌ՘ՙՈՌՔՔՕՌ Տ ՓՌ՜ՆՔՏ՞Ռ՘ՑՕՌ ՋՈՏՍՌՔՏՌ ՔՆ՘ՏՒՌՏզ ԠՏՙՕՈ՘ՑՕՐ ԦԦԥ ҚӓӖӧӘөӜ  ңөӘӖӐҪԗՕ՘՚ՋՆ՗՘ՙՈՕՈ՘ՌՕՇՠՌՉՕՇՒՆՉՕ՘Օ՘ՙՕզՔՏզԢՕ՗ՈՌՍ՘ՑՆզՓՕՋՌՒգҥәӜӕӌӊ ҨӛәӍӛӐӜӜ 5ӓӝӗӊҥҮԦՕ՝ՏՆՒգՔՕՖ՗Օ՛Ռ՘՘ՏՕՔՆՒգՔՆզՕ՗ՏՌՔՙՆ՝ՏզՓՕՒՕՋՌՍՏҫӊӖӖӓӘ




13*&%"*4,#1( /mBCTPMJVUVTUJSJBNʳKʳTLBJʅJVT mDSPTTUBCVMJBDJOʭTMFOUFMʋT MFOUFMLj%LjMLPLJPTTWBSCJBVTJPTQSJFßBTUJFTQSJTJSFHJTUSBWPUFQBTQSJWBUDZHZEZUPKƾ  N

 (ZEZNPʖTUBJHB LVSJPKFFTVSFHJTUSVPUBT B CVWPQFSUPMJ /FQBTJUJLJVHZEZUPKV EJSCBOʅJVʖTUBJHPKF LVSJPKFTVSFHJTUSVPUBT -BCJBVQBTJUJLJVQSJWBʅJʳHZEZNPʖTUBJHʳHZEZUPKBJT 5VSJVQBTUPWʳHZEZUPKʂ ʖLVSʖWJTVPNFULSFJQJVPTJ ,JUBQSJFßBTUJT *ØWJTP

           

/      

MFOUFMLj%LjMLPLJPTTWBSCJBVTJPTQSJFßBTUJFTQSJTJSFHJTUSBWPUFQBTQSJWBUDZHZEZUP Kƾ  N

 (ZEZNPʖTUBJHBZSB CVWP QFSUPMJ 1PMJLMJOJLPKFOPSJOUQBUFLUJQBT#1(UFOLBJMHBJMBVLUJ 1PMJLMJOJLPKFNBßBJJØSBØPNBLPNQFOTVPKBNʳWBJTUʳ 1SJWBʅJPKFʖTUBJHPKFNBOTLJSJBNBEBVHJBVEʋNFTJP 1SJWBʅJPKFʖTUBJHPKFUFJLJBNPTQBTMBVHPTZSBLPLZCJØLFTOʋT ,JUBQSJFßBTUJT *ØWJTP

           

/       

 MFOUFMLj 1BDJFOUBJ  QSJTJSFHJTUSBWNj QSJF HZEZNP ǕTUBJHPT QBHBM BNßJBVT HSVQFT N  

1PMJLMJOJLB QBHBMHZWWJFUʂ 1SJWBʅJPKFQPMJLMJ OJLPKF (ZEZNPʖTUBJHPKFOF QBHBMHZW WJFUʂ ,JUBTBUTBLZNBT

N   /

  /

  /

  /

mN mN mN mN         /

/ / /

        /

/

/

/

        /

/

/

/

        /

/

/

/



N   /

  /

  /

  /


1SJFEBJ

 MFOUFMLj 1BDJFOUBJ  QSJTJSFHJTUSBWNj HZEZNP ǕTUBJHPKF  QBHBM BNßJBVT HSVQFT  N  

,SFJQʋTJʖ 4BWPHZEZUPKʂ OFQSJLMBVTPNBJ OVPHZWWJFUPT 1SJWBʅJBJEJSCBOUʖHZEZUPKʂ NPLʋKPQJOJHVT

1SJWBʅJBJEJSCBOUʖHZEZUPKʂ MJHPOJʳLBTPT

4BWPHZEZUPKʂQBHBMHZW WJFUʂ ,JUBTBUTBLZNBT *ØWJTP

N   /

  /

  /

  /

  /

/

mN mN mN       /

/

/

      /

/

/

      /

/

/

      / / /

      /

/

/

/ / /

N   /

 /

  /

  /

  /

/

MFOUFMLj1BDJFOUBJ QSJTJSFHJTUSBWNjHZEZNPǕTUBJHPKF QBHBMJØTJMBWJOJNƾ  N

ɔTUBJHB

1PMJLMJ OJLB QBHBMHZW WJFUʂ 1SJWBUJQP MJLMJOJLB (ZEZNP ʖTUBJHBOF QBHBMHZW WJFUʂ

1SB EJOJTJS ßFNFTOJT   /

  /

  /

/FCBJH 7JEVSJ 1SPGFTJOʋ "VLØ /F "VLØUB ,JUBT UBTWJEV OJT NPLZLMB UFTOJPKJ CBJHUBT TJT SJOJT NPLZLMB BVLØUBTJT               / / / / / / /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

MFOUFMLj1BDJFOUBJ QSJTJSFHJTUSBWNjHZEZNPǕTUBJHPKF QBHBMJØTJMBWJOJNƾ N

ɔTUBJHB

1PMJLMJOJLB QBHBMHZWWJFUʂ 1SJWBUJQPMJLMJOJLB (ZEZNPʖTUBJHBOFQBHBM HZW WJFUʂ

/FCBJHUBT WJEVSJOJTJS ßFNFTOJT   /

   /

7JEVSJOJT 1SPGFTJOJTJS "VLØUB BVLØUFTOZTJT TJT   /

  /

  /



  /

  /

  /

  /

  /

  /

,JUBT

  /

  /

  /


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj,JFLMBJLPTVHBJØUBUFQBTJFLUJTBWPHZEZUPKƾ -BJLBT *LJQVTʋTWBMBOEPT /VPQVTʋTWBMBOEPTJLJWJFOPTWBMBOEPT /VPWJFOPTWBMBOEPTJLJQVTBOUSPTWBMBOEPT %BVHJBVLBJQQVTBOUSPTWBMBOEPT *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

  /

N   /

  /

  /

  /

  /

  /

MFOUFMLj,BJQWFSUJOBUFLFMJPOLjTMBJLƾJLJ+ǰTDZHZEZUPKP -BJLBT

N   /

  /

  /

  /

  /

.BOFUFOLJOB .BOʍTOFUFOLJOB /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

 /

 /

MFOUFMLj,BJQ+ǰTWFSUJOBUFLFMJPOLjTMBJLƾ ,JFL+VNTNFUDZ  N

5FOLJOB /FUFOLJOB /FßJOBV *ØWJTP

N   /   /

  /

/

mN   /

  /

  /

/

mN mN mN N         /

/

/

/

  /   /   /   /

  /   /   /   /

/

/

/

/

MFOUFMLj,BJQ+ǰTWFSUJOBUFLFMJPOLjTMBJLƾ ,JFL+VNTNFUDZ  N

.BOFUFOLJOB .BOʍTOFUFOLJOB /FßJOBV *ØWJTP

N   /

  /

  /

/

mN   /

  /

  /

/



mN   /

  /

  /

/

mN N     /

/

  /   /

  /

  /

/ /


1SJFEBJ

MFOUFMLj%LjMLPLJPTMJHPTQBTLVUJOǕLBSUƾLSFJQLjULjT  N

-JHB »JSEJFTJSLSBVKBHZTMJʳTJTUFNPTMJHPT ,WʋQBWJNPTJTUFNPTMJHPT 7JSØLJOJNPTJTUFNPTMJHPT *OLTUʳJSØMBQJNPTJTUFNPTMJHPT 4ʂOBSJʳJSLBVMʳSBVNFOʳTJTUFNPTMJHPT ,SBVKPJSLSBVKPUBLPTPSHBOʳMJHPT &OEPLSJOJOʋTMJHPT *NVOJOʋTTJTUFNPTMJHPT *OGFLDJOʋTMJHPT "VTʳ OPTJFTJSHFSLMʋTMJHPT "LJʳMJHPT 0EPTMJHPT 1TJDIJLPTJSFMHFTJPTVUSJLJNBJ /FSWʳTJTUFNPTMJHPT "LVØFSJOʋTHJOFLPMPHJOʋTMJHPT 5SBVNPT ,JUPTMJHPT *ØWJTP /FBUTBLʋ *ØWJTP

/



                   

                                      

MFOUFMLj%LjMLPLJPTTWBSCJBVTJPTQBTMBVHPTQBTLVUJOǕLBSUƾ+VNTUFLPLSFJQUJT 1BTMBVHPT %JBHOPTUJLB %JBHOPTUJLBJSHZEZNBT 3FDFQUPWBJTUBNTJØSBØZNBT 4WFJLBUPTQBßZNPTJØEBWJNBT 1SPĐMBLUJOJT TWFJLBUPT QBUJLSJOJNBT 4JVOUJNPQBTTQFDJBMJTUʂJØSBØZNBT /FEBSCJOHVNPMBQFMJPJØSBØZNBT ,POTVMUBDJKBEʋMBSUJNPßNPHBVTMJHPT ,PNQFOTVPKBNʳWBJTUʳSFDFQUPJØSBØZNBT 4LJFQBJ ,JUBQBTMBVHB *ØWJTP /FBUTBLʋ



N

N

  /

  /

  /

  /

 /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

 /

 /


40$*0-0(*+"*347&*,"50413*&Ã&#x201A;*Ê&#x2019;3044*45&.041"4-"6(Ê&#x201C;7"35050+"4

MFOUFMÇ&#x2C6;"SQBTLVUJOÇ&#x2022;LBSUƾÇ&#x2022;HZEZUPKPLBCJOFUƾCVWPUFQBLWJFTUBTMBJLV N   /

  /

 /

  /

5BJQ /F *Ã&#x2DC;WJTP /FBUTBLÊ&#x2039;

N   /

  /

 /

  /

MFOUFMÇ&#x2C6;-JFLMBJLP+VNTUFLPMBVLUJ LPMCVWPUFQBLWJFTUBTÇ&#x2022;HZEZUPKPLBCJOFUƾ -BJLBT

.FUBJ N   /

  /

  /

  /

  /

 /

*LJQVTÊ&#x2039;TWBMBOEPT /VPQVTÊ&#x2039;TWBMBOEPTJLJWJFOPTWBMBOEPT /VPWJFOPTWBMBOEPTJLJQVTBOUSPTWBMBOEPT %BVHJBVLBJQQVTBOUSPTWBMBOEPT ,JUBTBUTBLZNBT *Ã&#x2DC;WJTP

N   /

  /

  /

  /

  /

 /

MFOUFMÇ&#x2C6;"SQBTLVUJOÇ&#x2022;LBSUƾCVWPUFMBJLVQBLWJFTUBTQBTHZEZUPKƾ ,VSJPKFQPMJLMJ OJLPKFMBOLPUÇ&#x2C6;T  N

"SCVWPUFQB LWJFTUBTMBJLV 5BJQ /F *Ã&#x2DC;WJTP

%BJOBWPT

$FOUSP

»JMBJOJʳ

»BOÊ&#x2026;Jʳ

,BMOJFÊ&#x2026;Jʳ

  /

  /

/

  /

  /

/

  /

  /

/

  /

  /

/

  /

  /

/

,JUBQP MJLMJOJLB   /

  /

/

MFOUFMÇ&#x2C6;"SQBTLVUJOÇ&#x2022;LBSUƾCVWPUFMBJLVQBLWJFTUBTQBTHZEZUPKƾ ,VSJPKFQPMJLMJ OJLPKFMBOLPUÇ&#x2C6;T  N

"SCVWPUFQB LWJFTUBTMBJLV 5BJQ /F *Ã&#x2DC;WJTP

%BJOBWPT

$FOUSP

»JMBJOJʳ

»BOÊ&#x2026;Jʳ

,BMOJFÊ&#x2026;Jʳ

  /

  /

/

  /

  /

/

  /

  /

/

  /

  /

/

  /

  /

/



,JUBQP MJLMJOJLB   /

  /

/


1SJFEBJ

MFOUFMÇ&#x2C6;,JFLMBJLPUFLPMBVLUJ LPMCVWPUFQBLWJFTUBTÇ&#x2022;HZEZUPKPLBCJOFUƾ ,VSJP KFQPMJLMJOJLPKFMBOLPUÇ&#x2C6;T  N

*LJQVTÊ&#x2039;TWBMBOEPT /VPWBMJLJ WBM /VPWBMJLJ QVTBOUSPTWBM %BVHJBVLBJQQV TBOUSPTWBMBOEPT ,JUBTBUTBLZNBT *Ã&#x2DC;WJTP /

%BJOBWPT

$FOUSP

»JMBJOJʳ

»BOÊ&#x2026;Jʳ

,BMOJFÊ&#x2026;Jʳ

  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



,JUBQP MJLMJOJLB   /

  /

  /

  /

  /



MFOUFMÇ&#x2C6;,JFLMBJLPUFLPMBVLUJ LPMCVWPUFQBLWJFTUBTÇ&#x2022;HZEZUPKPLBCJOFUƾ ,VSJP KFQPMJLMJOJLPKFMBOLPUÇ&#x2C6;T  N

*LJQVTÊ&#x2039;TWBMBOEPT /VPWBMJLJ WBM /VPWBMJLJ QVTBOUSPTWBM %BVHJBVLBJQQV TBOUSPTWBMBOEPT ,JUBTBUTBLZNBT *Ã&#x2DC;WJTP /

%BJOBWPT

$FOUSP

»JMBJOJʳ

»BOÊ&#x2026;Jʳ

,BMOJFÊ&#x2026;Jʳ

  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



  /

  /

  /



  /

  /

  /

  /

  /



  /

  /

  /

  /

  /



 

,JUBQP MJLMJOJLB   /

  /

  /

  /

  /



 MFOUFMÇ&#x2C6; "S QBTLVUJOJP +Ç°TDZ WJ[JUP QBT HZEZUPKƾ NFUV EBMZWBWP CFOESVPNFOÇ&#x2C6;T TMBVHZUPKB NFEJDJOPTTFTVP

%BMZWBWPTMBVHZUPKB

N   /

  /

  /

  /

  /

5BJQ /F /FBUTJNFOB *Ã&#x2DC;WJTP /FBUTBLÊ&#x2039;



N   /

  /

  /

  /

  /


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj,ƾEBSLjCFOESVPNFOLjTTMBVHZUPKB NFEJDJOPTTFTVP

1BTMBVHB N .BOFJØLMBVTʋJSTVUFJLʋQBHBMCʂ   /

.BOFJØLMBVTʋJSOVLSFJQʋQBTHZEZUPKʂ   /

(ZEZUPKPQBWFEJNVBUMJLPUBNUJLSVTUZSJNVT QSPDFEʲSBT   /

6ßQJMEʋNBOPLPSUFMʍ   /

/FBUTJNFOV   /

,JUBTWBJENVP   /

*ØWJTP   /

/FBUTBLʋ /

N   /

  /

  /

  /

  /

  /

  /

/

MFOUFMLj,BJQQBTLVUJOǕLBSUƾCVWPPSHBOJ[VPUBT+ǰTDZHZEZNBT 1BTMBVHB (ZEZUPKBTCFUZSJNʳOVTUBUʋOFHBMBWJNʂJSQBTLZSʋHZEZNʂ #VWPBUMJLUBLFMFUBTUZSJNʳ QPLVSJʳQBTLZSʋHZEZNʂ #VWPBUMJLUBLFMFUBTUZSJNʳ QPLVSJʳOVLSFJQʋQBTTQF DJBMJTUʂ (ZEZUPKBTJØLMBVTʋOVTJTLVOEJNVTJSOVTJVOUʋQBTTQFDJB MJTUʂ (ZEZUPKBTOVTJVOUʋHVMUJTʖMJHPOJOʍ ,JUBTBUTBLZNBT *ØWJTP /FBUTBLʋ

N N   /   /

  /   /

  /   /

  /

  /

  /

  /

  /   /

  /   /

/

/

MFOUFMLj,BJQQBTLVUJOǕLBSUƾCVWPPSHBOJ[VPUBT+ǰTDZHZEZNBT ,PLJPKFQPMJLMJOJ LPKF+ǰTEBßOJBVTJBJMBOLPULjT  N

%BJOB WPT (ZEZUPKBTCFUZSJNʳOVTUBUʋOF   HBMBWJNʂJSQBTLZSʋHZEZNʂ /

#VWPBUMJLUBLFMFUBTUZSJNʳ QP   LVSJʳQBTLZSʋHZEZNʂ /

  #VWPBUMJLUBLFMFUBTUZSJNʳ QP LVSJʳOVLSFJQʋQBTTQFDJBMJTUʂ /

(ZEZUPKBTJØLMBVTʋOVTJTLVOEJNVT   JSOVTJVOUʋQBTTQFDJBMJTUʂ /

(ZEZUPKBTOVTJVOUʋHVMUJTʖMJHP   OJOʍ /

,JUBTBUTBLZNBT   /

*ØWJTP /



$FOUSP   /

  /

  /

  /

  /

  /





»JMBJ OJʳ   /

  /

  /

  /

  /

  /



»BOʅJʳ ,BMOJF ʅJʳ     / /

    / /

    / /

    / /

    / /

    / /

 

,JUBQP MJLMJOJLB   /

  /

  /

  /

  /

  /




1SJFEBJ

MFOUFMLj,BJQQBTLVUJOǕLBSUƾCVWPPSHBOJ[VPUBT+ǰTDZHZEZNBT ,PLJPKFQPMJLMJOJ LPKF+ǰTEBßOJBVTJBJMBOLPULjT  N

(ZEZUPKBTCFUZSJNʳ OVTUBUʋOFHBMBWJNʂJSQB TLZSʋHZEZNʂ #VWPBUMJLUBLFMFUBTUZSJNʳ QPLVSJʳQBTLZSʋHZEZNʂ #VWPBUMJLUBLFMFUBTUZSJNʳ QPLVSJʳOVLSFJQʋQBT TQFDJBMJTUʂ (ZEZUPKBTJØLMBVTʋOVTJ TLVOEJNVTJSOVTJVOUʋQBT TQFDJBMJTUʂ (ZEZUPKBTOVTJVOUʋHVMUJT ʖMJHPOJOʍ ,JUBTBUTBLZNBT

%BJOB WPT  /

$FOUSP

»JMBJOJʳ

»BOʅJʳ

 /

 /

  /

  /

  /

  /

  /

  /

  /



*ØWJTP /

 /

,BMOJF ʅJʳ  /

,JUBQP MJLMJOJLB   /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /



  /

  /



  /

  /



  /

  /



  /

  /



MFOUFMLj"S+ǰTDZHZEZUPKBTJØSBØPKVNTLPNQFOTVPKBNVTWBJTUVT 1BTMBVHB 5BJQ WJTVTWBJTUVT 5BJQ LBJLVSJVPTWBJTUVT /F OFJWJFOʳWBJTUʳ ,JUBTBUTBLZNBT *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

/

N   /

  /

  /

  /

  /

/

MFOUFMLj"S+VNTVßUFOLBQJOJHDZWBJTUBNTQJSLUJ 7FSUJOJNBT 7JTBEBVßUFOLB /FWJTBEBVßUFOLB /JFLBEBOFVßUFOLB ,JUBTBUTBLZNBT *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

/



N   /

  /

  /

  /

  /

/


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj(ZEZUPKBTǕELjNJBJJØLMBVTPNBOPOVTJTLVOEJNVT 7FSUJOJNBT

N   /

  /

  /

  /

  /

  /

/

7JTJØLBJTVUJOLV 4VUJOLV /FTVUJOLV 7JTJØLBJOFTVUJOLV /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

  /

/

MFOUFMLj(ZEZUPKBTTLJSJBQBLBOLBNBJMBJLPJSELjNFTJP 7FSUJOJNBT

N   /

  /

  /

  /

  /

  /

/

7JTJØLBJTVUJOLV 4VUJOLV /FTVUJOLV 7JTJØLBJOFTVUJOLV /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

  /

/

MFOUFMLj4LJSEBNBTHZEZNƾ HZEZUPKBTWJTVPNFUBUTJßWFMHJBǕNBOPOVPNPONj 7FSUJOJNBT

N   /

  /

  /

  /

  /

  /

/

7JTJØLBJTVUJOLV 4VUJOLV /FTVUJOLV 7JTJØLBJOFTVUJOLV /FßJOBV *ØWJTP /FBUTBLʋ



N   /

  /

  /

  /

  /

  /

/


1SJFEBJ

 MFOUFMLj (ZEZUPKBT WJTVPNFU TVQSBOUBNBJ QBBJØLJOB BQJF NBOP OFHBMBWJNƾ JS TLJSUƾHZEZNƾ 7FSUJOJNBT

N   /

  /

  /

  /

  /

  /

/

7JTJØLBJTVUJOLV 4VUJOLV /FTVUJOLV 7JTJØLBJOFTVUJOLV /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

  /

/

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFTLJSUƾHZEZNƾ 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

/

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFTWFJLBUPTCǰLMNj 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

/

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFHZEZNPSJ[JLƾ 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ




40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFUZSJNDZSFJLØNNj 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFØBMVUJOǕWBJTUDZQPWFJLǕ 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFMJHPTQSPHOP[Nj 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

MFOUFMLj(ZEZUPKBTWJTVPNFUTVUFJLJBJOGPSNBDJKƾBQJFLPNQMJLBDJKDZJØWFOHJNƾ 7FSUJOJNBT

N   /

  /

  /

  /

/

1BLBOLBNBJ /FQBLBOLBNBJ /FßJOBV *ØWJTP /FBUTBLʋ

MFOUFMLj,BJQWFSUJOBUF+VNTTLJSUƾQBTMBVHƾ 7FSUJOJNBT &TVQBUFOLJOUBT B

&TVOFQBUFOLJOUBT B

/FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

/



N   /

  /

  /

  /

/


1SJFEBJ

MFOUFMLj%LjMLVSJPTQBHSJOEJOLjTQSJFßBTUJFT+ǰTFTBUFOFQBUFOLJOUBT B TLJSUBHZ EZNPQBTMBVHB 7FSUJOJNBT (ZEZUPKBTCVWPOFQBLBOLBNBJLWBMJĐLVPUBT (ZEZNBTCʲUʳFGFLUZWFTOJT KFJCʲʅJBVOVLSFJQ UBTQBTTQFDJBMJTUʂ (ZEZNBTCʲUʳFGFLUZWFTOJT KFJNBOCʲUʳTLZSʍ EBVHJBVUZSJNʳ (ZEZNBTCʲUʳFGFLUZWFTOJT KFJUZSJNBJCʲUʳ BUMJLUJUFOQBU (ZEZNBTCVWPOFFGFLUZWVTmKJTOFQBØBMJOP OFHBMBWJNʳ .BOBV LBELBJLVSJFNBOBUMJLUJUZSJNBJCVWP OFSFJLBMJOHJ ,JUBQSJFßBTUJT *ØWJTP

N   /

  /

N   /

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

/

  /

/

 MFOUFMLj ,BJQ WFSUJOBUF +VNT TLJSUƾ QBTMBVHƾ  ,VSJPKF QPMJLMJOJLPKF EBßOJBVTJBJ MBOLPULjT  N

7FSUJOJNBT

%BJOBWPT

$FOUSP

»JMBJOJʳ

»BOʅJʳ

,BMOJFʅJʳ

&TVQBUFOLJOUBT B

  /

  /

  /



  /

  /

  /



  /

  /

  /



  /

  /

  /



  /

  /

  /



&TVOFQBUFOLJO UBT B  /FßJOBV *ØWJTP

,JUBQP MJLMJOJLB   /

  /

  /



MFOUFMLj,BJQWFSUJOBUF+VNTTLJSUƾQBTMBVHƾ ,PLJPKFQJSNJOLjTTWFJLBUPTQSJF ßJǰSPTǕTUBJHPKFFTBUFQSJTJSFHJTUSBWNjT VTJ  N

7FSUJOJNBT &TVQBUFOLJOUBT B

&TVOFQBUFOLJO UBT B  /FßJOBV *ØWJTP

1PMJLMJOJLPKF 1SJWBʅJPKFHZ (ZEZNPʖTUBJHPKF QBHBMHZWWJFUʂ EZNPʖTUBJHPKF OFQBHBMHZWWJFUB   /   /

  /   /

  /



  /





,JUPKFQP MJLMJOJLPKF

  /

  /

  /

  /

  /



  /




40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj"S+VNTQBTUBSVPKVMBJLVZSBUFLNjEVPUJEPWBOƾ LZØǕ

N   /

  /

  /

  /

5BJQ /F *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

MFOUFMLj%LjMLPLJPTQBHSJOEJOLjTQSJFßBTUJFT+ǰTEBWLjUFLZØǕ ,BJQWFSUJOBUF+VNT TLJSUƾQBTMBVHƾ 1SJFßBTUJT 5BJQBØQBEʋLPKBVHZEZUPKVJVßTVUFJLUʂQBTMBVHʂ 7JTJEVPEBHZEZUPKBNTEPWBOBT UPEʋMJSBØ UVSʋKBVEVPUJ (ZEZUPKVJOFEBWVTEPWBOPT OFTVMBVLTJUJOLBNP EʋNFTJP (ZEZUPKBTOFUJFTJPHJBJQBSFJLBMBWPEPWBOPT ,JUBQSJFßBTUJT *ØWJTP

N   /

  /

N   /

  /

  /

  /

  /

  /

/

  /

  /

/

MFOUFMLj,BJQ +ǰTDZNBOZNV QFSQBTUBSVPTJVTLFMFUƾNFUDZQBTJLFJULjHZEZUPKPUFJ LJBNDZQBTMBVHDZLPLZCLj 7FSUJOJNBT

N   /

  /

  /

  /

/

1BHFSʋKP 1BCMPHʋKP /FQBTJLFJUʋ /FßJOBV *ØWJTP

N   /

  /

  /

  /

/

MFOUFMLj"SOPSLjUVNLjUFLFJTUJSFHJTUSBWJNPQBTHZEZUPKƾUWBSLƾ N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ



N   /

  /

  /

  /

  /


1SJFEBJ

MFOUFMLj"SOPSLjUVNLjUFLFJTUJQBLWJFUJNPǕHZEZUPKPLBCJOFUƾUWBSLƾ N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUFLFJTUJHZEZUPKPCFOESBWJNƾTVQBDJFOUV N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUFLFJTUJHZEZUPKPBQSǰQJOJNƾØJVPMBJLJOLjNJTEJBHOPTUJLPT QSJFNPOLjNJT N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUF LBECǰUDZHFSJOBNBHZEZUPKPLWBMJêLBDJKB N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ



N   /

  /

  /

  /

  /


40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj"SOPSLjUVNLjUF LBECǰUDZLFJǁJBNBTHZEZUPKPEBSCPMBJLBT

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N

N

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUF LBECǰUDZHBMJNZCLjHBVUJHZEZUPKPLPOTVMUBDJKƾUFMFGPOV 5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N

N

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUF LBECǰUDZLFJǁJBNBJØSBØPNDZWBJTUDZLPNQFOTBWJNPUWBSLB 5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N

N

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /

MFOUFMLj"SOPSLjUVNLjUF LBECǰUDZLFJǁJBNBOVLSFJQJNPQBTTQFDJBMJTUƾUWBSLB 5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ



N

N

  /

  /

  /

  /

  /

  /

  /

  /

  /

  /


1SJFEBJ

MFOUFMLj"SOPSLjUVNLjUFUVSLjUJHBMJNZCNjTVTJTJFLUJTVHZEZUPKVOFEBSCPEJFOPNJT N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

 MFOUFMLj "S +ǰT UVSJUF HBMJNZCNj TVTJTJFLUJ TV TBWP HZEZUPKV CFU LVSJVP QBSPT NFUV N   /

  /

  /

  /

  /

5BJQ /F /FßJOBV *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

MFOUFMLj"S+ǰTUVSJUFHBMJNZCNjCFULVSJVPQBSPTNFUVTVTJTJFLUJTVHZEZUPKV ,P LJPKFQJSNJOLjTTWFJLBUPTQSJFßJǰSPTǕTUBJHPKFFTBUFQSJTJSFHJTUSBWNjT VTJ  N

(BMJUF ,SFJQʋUʋTʖ TVTJ TBWPHZEZUPKʂ  QSJWBʅJBJEJSCBO QSJWBʅJBJ TJFLUJTV OFQSJLMBVTPNBJ UʖTBWPHZEZUPKʂ EJSCBOUʖTBWP HZEZUPKV OVPHZWFOBNPT NPLʋKPUFQJOJ HZEZUPKʂ MJ WJFUPT HVT

HPOJʳLBTPT

5BJQ   /   /   /

/F   /   /   /

/FßJOBV   /

  /

  /

*ØWJTP   

TBWPHZEZUPKʂ QBHBMHZWWJFUʂ

,JUBTBUTBLZ NBT

  /   /

  /   /

  /   /

 

MFOUFMLj"S+ǰTUVSJUFHBMJNZCNjCFULVSJVPQBSPTNFUVTVTJTJFLUJTVHZEZUPKV ,P LJPKFQJSNJOLjTTWFJLBUPTQSJFßJǰSPTǕTUBJHPKFFTBUFQSJTJSFHJTUSBWNjT VTJ  N

5BJQ /F /FßJOBV *ØWJTP

(BMJUFTVTJTJFLUJTVHZEZUPKV 1PMJLMJOJLPKF 1SJWBʅJPKFHZ (ZEZNPʖTUBJHPKF QBHBMHZWWJFUʂ EZNPʖTUBJHPKF OFQBHBMHZWWJFUʂ

,JUBTBUTBLZ NBT

  /

  /

  /



  /

  /

  /



  /

  /

  /





  /

  /

  /




40$*0-0(*+"*347&*,"50413*&Â*ʒ3044*45&.041"4-"6(ʓ7"35050+"4

MFOUFMLj+FJUVSLjUVNLjUHBMJNZCNjCFULVSJVPNFUVTVTJTJFLUJTVCFULVSJVPHZEZUPKV  ǕLPLǕHZEZUPKƾLSFJQUVNLjULjT N   /

  /

  /

  /

  /

  /

#FOESPTJPTQSBLUJLPTHZEZUPKʂ "UTLJSʳTVTJSHJNʳTQFDJBMJTUʂ (SFJUPTJPTQBHBMCPTHZEZUPKʂ ,JUBTBUTBLZNBT *ØWJTP /FBUTBLʋ

N   /

  /

  /

  /

  /

  /

MFOUFMLj"STJǰMZUVNLjULFJTUJ#1(LWBMJêLBDJKƾ +FJ UVSLjUVNLjU HBMJNZCNj CFU LVSJVP NFUVTVTJTJFLUJTVCFULVSJVPHZEZUPKV ǕLPLǕHZEZUPKƾLSFJQUVNLjULjT  N

"STJʲMZUVNʋUF #FOESPTJPTQSBL "UTLJSʳTVTJSHJ LFJTUJ#1(LWBMJĐ UJLPTHZEZUPKʂ NʳTQFDJBMJTUʂ LBDJKʂ 5BJQ   /

  /

/F   /   /

/FßJOBV   /

  /

*ØWJTP /

/

(SFJUPTJPTQB ,JUBTBUTBLZ HBMCPTHZEZUPKʂ NBT   /

  /

  /

/

  /

  /

  /

/

MFOUFMLj"STJǰMZUVNLjULFJTUJ#1(LWBMJêLBDJKƾ +FJ UVSLjUVNLjU HBMJNZCNj CFU LV SJVPNFUVTVTJTJFLUJTVCFULVSJVPHZEZUPKV ǕLPLǕHZEZUPKƾLSFJQUVNLjULjT  N

"STJʲMZUVNʋUF #FOESPTJPTQSBL "UTLJSʳTVTJSHJ (SFJUPTJPTQB ,JUBTBUTBLZ LFJTUJ#1(LWBMJĐ UJLPTHZEZUPKʂ NʳTQFDJBMJTUʂ HBMCPTHZEZUPKʂ NBT LBDJKʂ 5BJQ   /

  /   /   /

/F   /

  /   /   /

/FßJOBV   /

  /

  /   /

*ØWJTP /

/

/

/

MFOUFMLj"ØEBßOJBVTJBJOJFLPOFLMBVTJOLjEBNBTWZLEBVWJTVTHZEZUPKPOVSPEZNVT N   /

  /

  /

  /

  /

  /

7JTJØLBJTVUJOLV 4VUJOLV /FTVUJOLV 7JTJØLBJOFTVUJOLV /FßJOBV *ØWJTP



N   /

  /

  /

  /

  /

  /

Sociologija ir sveikatos priežiūros sistemos paslaugų vartotojas  

Vylius Leonavičius, Giedrė Baltrušaitytė, Ingrida Naujokaitė, - Kolektyvinėje monografijoje nagrinėjama viena iš svarbiausių sveikatos ir me...

Read more
Read more
Similar to
Popular now
Just for you