EL VF
R[ GSHY[ LHUO GJSG ]S]HS TNQG ]C HD ]JSQ PLDNHN ]FHDU PHL
[HTLC RLC PGL[DFOH TNQG ]C G O L K Q ]JSQ PL[WQ TH]H L[ D]N P LSC LHFJD
CO HSQQ JZOS TNQG RHLN JL[G ]CSG PHQ COC TNQGQ [KWS MN LFL OU PHQ G[KUG ]FLSUD
UQQ R[GO ODC PLDNHN ]FHDUQ GSGS HSLCH HO HL]HUQ ]C HFLD PLJLSQ L[GH GLN[YO RLFN
[HTC R[G D]N MNOH G[KUG LDHJO GJSG ]S]LS PHL H]HCD COC POHUO FQHUH UHDZ TNQG
FNU TNQG ]JSG ]CSG FYQ G[KU PLO
GCSG ]DJS GSLC TH]G ]UFO UHDZ TNQG [CN PE FFLY CYZ CJ JHC GQ ]H[EC ]HDH
GCSG ]DJS TNQGQ GJSGG R[G ]KLN HD]N PLSHC[ GQN POHCH HFLD ]H[CS HL]HUQ GQ
QECD CDHQ EKQZ FHL CQ[H [HK L[LCQ CDKL[ J[U G[HTC
]H[LF HLOU PLSHDH L[NS PU ]HW]HD [EQ HO L PFC ]HFHC OCS FO EJ FHL GQ ]H[EC ]HD
FJ RWHCD [EQD Q]GO PGO ]H[GO PL[NSG L[QHN HLOC HSWH PG PL[NS PDH[ PLSHZGH G[LNQO
[EQ PSJD ELGO PLOHNL HLG RWHCD [L]GO D]NH IUO GSGQ [HTLC L[FED P RFH P]OW]O LQUW
GSGQ DJS GI RLC PGO R]HS MND PL[QHNO GJ[K MTHJ WUCH IUO GSGQ DJS GI RLC [JC
HSHO HIH GSGS [HTLC FYQ PE RHFO D]N HL[DF MH]D PLSCO COC IUO
CO [HNQO PL]D HO L ILU PL[NS GD[G HWTC]L LFL OU PT[W]L GID GSGS [HTLC FYQH
P C[QED C]LC PHNU ]DH[Z] JL[Q GSGSF CGN IUG LSLSUQ HSLC GIN GSGS [TCL HSLYQ
IUG FHDUO OLDD PL[NSG HCD PLFL[LGH PLZHGQ PLFHGLG ]TS[W DH[ GLG WC[HLD HSL]H[LUD L[GH
GDLC PHQ GIG RQID RGLFLC LQLDF [HTLC PLSHQFZG H[L]G L[JC []LGO KHW GLGH UHFLN PGO
[HTLC GLG PCH DL VLUT JQZ RQLT UD PE RN ZTWLCH IU L[ C[DH TH]D C]LC PLQUK FHUH
FHDUO RGLFLC LQL OLDD HWTC]S PLFL[LGH PLZHG LQLD PGQ JLH[GO [L]GO MLL GLG CO GSGS
[HTC GSGSG HSLC GI LCFH COC IUG
GSGS CYQS JLSL PLDNHN ]FHDU FHDNO H[HQJ C[DH HC[D JLSLH G[KU OKHS LQ ON
FDLN HQN HQYU FYQ [DFG [TCS CO UHFQ RN PC [HWQN GFHDNO ]LUS GJSGG RHLN OHCO L
" GSGS PUKO PLNL[Y GQOH GLSWO XDL[H
GLSWD CO VC [HTC FNH G[KZG RHEN ]HFHDUD PEG GLSWO COC XDL[H FDLN [HTLC RLC [WCH
]H[HTC ]HFHDUG RLFN CO [HTC HSLC GFDNO H]UF RLC ON XHDL[H FHDLND [QHO L FHU
INET FHL LC RHIJ RHLU ML[YH GHU CHG TNQG ]JSGO [DFG UHFL COG FHUH GC[LH GDGCQ HOLWC
HZT DT LTDH DOZTD UUH
GSGS CYQS HKZS MNOH [HTC [WC RSD[FQ ODC G[KUG ]JSG PYUD G[H] [HTLC RLC COC JLNHGO RLC RCNQ G[HCNO
RSD[FQ [HTC TNQ ]JSGO HC GC[LH GDGCQ HC GLSWD CO XDL[H FDLN RLFG CHG [WCH G[H] [HTLC [DFD L [QHO
R]HSH CHSG H[QC RCNQ GSGQ CYQS JLSL CO GSGS CYQS JLSL "GUL GQ P CYQSG LFHGL
[HTLC CHG [DHU MWS GQF PHZQ H]HCO TSNLGO [HTC [QHON [ZUL] GQGD PHNU O ZHD
GCSGD [HTC P GU R]QH CQ ON PLQNJ H[IE MNOH
KQ
]UF VTHL
PDQ[G L[DFQ [CHDQ GC CLOH G[H] FHQOO CQKQH OHJD CQKQ RGN GLG PCH
CLOH G[H] FHQOO VC RWHC OND [HTC [HIJO H]UF RLC RWHCD ]CYO CLZ ]HDH]ND TH]GH KG
MN [JC DHO H]UFDH CLOH FHQOO CYHLN [DHFQ RCNH GC
[QHOH ]HJFO L MC DHO ]SQ OU HOLWC OHJO ]CYO [HTC ]H[G [DFO GIQ JLNHGO L G[HCNOH
ODC CLO HC FHQOO LFN COC ]CYO HO H[L]G CO GIO RGNG ]CQHK [HTLC PHQ RCN [DHFQ
]H[G [DFO HOLWC [HIJO QU ]CYO []HQ [WC OC[LO
FHQOO LFN COC G[]HG CO [HIJO ]SQ OU OC[LO GCLYL PE [HWQ P PDQ[G L[DFD POHCH
MNO [HZQ CLDGO L MC UYH HS]LEHTO RLLY GSQ VTNDH H[HZQ [CHDQ COH@ GC CLO HC G[H]
U IQZ RGN KWQ LWU >CO RLHFZ ]LEHTQ
PLNOQ
PLLTH [L]GO D]N FQJLFG L[DF OU P ZWZWH PLZLFY ]H[DZ OU JK]GO LFN X[CGQ GCLYL OU FHU P RF C
OHJO LCQ GI OU ]CYO M[YS FU RH[DJ LSL POHUG ]HDC ]DGC ZLWT] CO [QHO FUO OON [H[D [DFG RLC QQ
PLQ PO ONGH GDHK GULSQG G[H] FHQO]Q OKD]QF PNJFLQO]DF JFG CKLO [DJQG RHCEG L[DF HDHK GQH
HLSLUD G[LGH GDHKG CYHQ HSLC MC GC X[CD CYHQ PC GC CLO LFN ]CYO []GD P RF RNH
X[CGQ ]CYO [DFG X[WS GQ FCQ HLSLUD U[HG RHLY ENW CJ GQO ]HNLOG OYI MD[ULHC I[EG PD CDHQ D
[D ]JQO OHJO ]CYO PUW ZD]SNH MNO []G GCH[ HSLC [QCH PLZTHWD ]H[CHDQG ]HHYQG M[HYO CO OHJO
]CYO PL[HTC DU FHL PLZTHWG ]UFO HJO L PLSGNO K[WDH MNO ZLWTQ []LG GC[ CO D]N HFNS O GHYQ
HQN PLSHNS HLGL HSL]HUHQ ON LCHOG JY DJ DZUL ]HD PD GZT GDH] LJ]WD U@ PLQUG X[C ]CQHK PHQ
> GIG RQID ]EGHS HI GCQHK RLC OTF O[GN RO CQLLZ COF GI
DHLJ OKHQ OHJ RD RGN OU CQ ZW]TGO D]N RHLY LW CJ GQO ]HNLOGD CDHQ HK ]D ]NTQO L]N LHFJDH
[WC PC PQ ]CYOH I[FIGO
G]Q CLGH GLSWD ]OF OUHS LFZG PCH GIG RQID RLNL[UQ RLCH RLQL[JQ RLCH RLLFZQ RLC
RGNO HS]LO [WC PHQ GWLNO HTLSNGO PLC[ RLC GIG RQID G[HGK GQGD [HND PLZTHWG HD]N
C[G D]N GWLNO HTLSNGO GYH[ GOGH RGNO HS]S PC HOLWCH RGN O HSHQQ FLTWGO [HTCH HQHQD
HGHTSZ LFZGO H[TC PLQNJ ]SZ] OU [DU PHQ RCN Z[H PLFZ RHLID PHQ [HTCO GC[S
FJC RGNO G[HG E[HDSKH[Q [LCQ HSD[ HD[ PD C[G NNH PLFZ ]HIDO [HTC HLOCQ HFZG [HND ODC
K FHL UH
RHEN RGN FTWG RLCN HOLWC GWLNO [HND ]TSNG [HTCO EWCW FHL CQZ GFHGLDUFHSG ]SZTQ RNH
[HND ZWTD
U CTSZ PHQ [UYO H[L]G RCN CZHF CQ@ PLLJ LOUD [UY PHQ [HTLC GID L PC TOLW [LCQ [EG PU QHQ UH
IIQ DJ TLESD [I[EG LHFJ [ UH FHUH >C FHL CJ PLOUW D[ ]HDH PLSHC[D
COC CLEHTD HSF CO ][JC C[DT D]N ES ]H[HND GF LQH[Q W IU DJ [DF DLQ JZ PLHFZ GOC ZQUGD DLYSGH
RN CO GWLNO GTSNG O KUQ RHLID RGD []HG MNOH FHDLCO HNOL ]UF OU HFZHG C[ZLUQF GWD RLFZG PLFZD
GWLNO GTSNG []G HSCYQ CO PJ[Q H]HFZ [HNDD
EKWZ FHL LC RHIJDH [HTCO [WHTP]JGQ CLDG EL FHL GDH] LJ]WD GIG RQID [HND ZWTD PHQ ]OKG RLSUOH
HN ]H[HND ]UF VTHLD CDHQDH ES CJ ZJYL [NID UUH COHZOF RSD[F CZLWT [CQ CS LCQF [DFD ZWZW
GL[IU RD [IULOC [ O GQGD [UQ [LU THWH[KHWC TH]G L[DFQ [CHDQ RLLFZQ RLC GF]
[ZWG JNQ HO ]S]LS THWH[KHWCG ]HNI [QCS PC L[G [UO THWH[KHWC FLD JN L FYLN RLLUO LH
S
EL VF G[I GFHDU
JLNHGO L GIQH [UQQ [HKW JHZO COG R[UO ONHL ]HQGDD ]HNI HO HSZG PLQNJH [ZWG FD
DJ RLOHJ TQU G M[N FHQO]G ]LD [WTD [JC PHZQD HSN[CGH FD [ZWG PHQ HSLC THWH[KHWCG JN
JGYZG D]N ILWOH RLW]HG RLD ZHOJO CHG THWH[KWC JN R[G ][DT CLDG Y[ RJG ]HYZDH
LH OC[LG ZOJQ PLLHOG ZOJ O GZHOJ HSLG [UQ ][WG ]H[LW [UO THWH[KWCO JN L
PE L RHLN CQH EGL[O PLOUD RHQQ CHG L[G PLW]H ]ZHOJN DJS GQGD [UQ PC RHFO
CKLO E[DFOHE SI[EGQ PLW]H ]ZHOJN DJS GQGD [UQ RD[ZD GHDE RHQQ
RN X[L] CO CGO RN RHU] CO P]Y]SH C[Z [QC LLDC [QC "C[KTLE GLHLOH DU
RWHCD UQQ RHU] CO F HCO PHQ GI RWHCD G[ZUO RLC MNO GL]HT[W [SQ RLSUO
MND GYL]S P RLC GLJ ][CS CLGH GQGDG RQ ]YZQ M]HJ GIN
]YL]SD COC GI [HTLC RLC GHHFCW P[GQ L[DFN JLNHGO FLFO JHC [IS LSDC ]HD D]N RCNQ
HI RLC HO]G [DFQ ]YZQ M]HJG ODC X]HSQN HGL[G M]HJ CHG ZOJ H]HC [DHJQ [DF
GYL]S
[HTLCG OOND RLC UQQ RN RHU] CO PHQ GZHO HSLC PLFZD PHQ OLKQG MNQ [CHDQ RNH
KEO P CQOUD OHZOZ COH G[HY FHDLC COC
L[G G]JG PO COH GHYQ M[HYO GHUN VC [HQC RHU] CO [HTLC RCNQ PLJLNHQ L FHU
LC RHIJDH CLFO P RLLU C]L[HCF HCOD [DHU H[QC MN OUH GOZ] J PHQ ]CI GHU HSSHFLSD
C[KTLE ]LLU DH GLSWD ]OF ]OLUSD [WC RHLN LLDC ]SHHN HI GLC[ ]HJFO D]N EKWZ FHL
GC[S [WCLCFD ODC GOZ]G ][TGO GI GUQD M[HY RLC [DN L[G G]JGF HCO PHQ G[HTC
G]JG HI RLC
LSLQ [C [L]GO GJNHG RLC [QHO C[DTD PHZQ L > GHYQ M[HY DLJ ]OF ]OLUSD [WC LWUC@ ISDCG ][DT LWO
PH G[HY FHDLC CLG QQ GYL]S Z[H OHZOZ [FED GI RLC CHG GHYQ M[HY RCN CZHF OL RLOKOKQD RHEN OHZOZ
GHYQ [DFD G[HTC CLG FZG
GL]HT[W [SQ HSLC UHFQ PUK R]LO D CD[ PLFZD PHQ OLKQN GC[S LSWQ [QC CD[
CHG CLOUQ PHQ HOC C[QED L[G C[KTE ]LUO TJL]Q HSLC ODC PHQ OLKQN GC[S LSWQ
EKWZ FHL LC RHIJ PHQ OOND HSLC C[KTE HOLCH
]SHHN RLC UQQ GIQH ]QNTHQ GNOGN LLDC L[DF PLCDHQ PLZTHW [CD RNH LLDC L[DFN P]TD KZS R[D UQQ RNH
HLG COH RSD[FQ [HTC COC RHU] CO F HCO PHQ [DFD RLC [DHT UQQD GLG RN PC C[KTE OU PUK ]]O CD[
G[H] RLFQ G[HTC C[KTE ]LLU ODC GL]HT[W [SQ OU PUK ]]O CD CD[ JNHQ GIQH GNOGO LLDC L[DF ]C PLCLDQ
LLDC L[DFN
[DFN DJS GI L[G []HL PLOIHQ PL[LJQG FL[LD RHLN LQOH[LG LWU [W R[G HGLLKHUQ PHQ
M[HYO GSHZN CO ODC LLCG HN[YO PL[DF COC ]HSZO []HQ RLC MNOG@ G]U GSZL CO PC FDCG
PGLJHHL[ ]C KUQQ CHG G]U GSZLN MFLCQH > FDCG [DF [FED GI RLC [DN [N]GO [JTQ
H[L]G MNO
PHQ H[ZLUD GUS CHG RHLN FL[LD ]HSZO [HTCO GLG HGLLKHUQ PHQ F PUKG COHO POHCH
IKET LC RHIJDH KQZ FHL [HKD UUH MND GOU]Q CLG P [HJTO ONG PLWTC]QNH PLDNHN ]FHDU
CS
]UF VTHL
[]HQ RL]LS]QF LSG DL[ZGO RN[F RLC HOCG ]H[HFD ODC [HNQO PL[HTC PL[DF HOC
]U OND G[I ][HKZO GJZHOO RL[QHN O R HN[F RLLFU GSHDOG RQ XHJ PHON MND RLCH PGO G[NHQO
CD[G RHO >[HTC@ GSG ]HQL ON HO [HNQO HOLWCH
PL[WTH PHNU O PLONH GSHDO PL[QHNO [HNQO [HTC MH[D [G PD DYJ GF FL TH]G HD]N DHLNH
DHLNH GOWL]O PLLHC[G
PLSHC[D CDHG LQOH[L GSHDO [HNQO []HQ CWH[OH
JHL[ M[HYO JLNHGO HD]N L RCNQ HO H[NHQH HUDYC ]C UKHZ HQYU LSWD CHG RQIDH
]HYHS ]KL[Q RHEN MQ]QH OHFE [UYQ USQGO L POHCH@ PLLJ LOUD [UY O HJO RLC LSHQQ
PLOUW D[ ]H CU EJ DZUL ]HD ]H LWU >]HL[INC PHQ [DFD L CQ[G D]N HQNH PLIHHCG
RHQQ JHL[ M[HYO HOLWCH PFC LSD OYC ODHZQ HSLC RWHCD [UYO [TC LZ DJD DZUL ]HDD UH C FHL CJ
E[DFOHE GLQJS RQOI [EG VLTHG DUD GSQG OU PLSWD U PFCO M[HY PHZQD PLLJ LOUD [UY GI RLFD
CKLO
LOUD [UY [HTLC PHQ GID RLC PL[DF [CO HC GCHW[O ML[YG [DF ON FLG UGCD CQ[G D]N
LWO HSLCH RZI []G OU HSF LHQSD U DWT QDD PLSHC[G ]ZHOJQD LHS [DFG GC[SH PLLJ
PHQ PC RDQ[ JDUY [HTLCO GJHF G[H]G FHDNF GU PHQ PC GQGDG ]ZL[WQ USQGO HFHDN
CQ[G L[DFNH R[ PFCG M[HYO []HG
[UYO H[L]G PUK ]]O HN[YHG MNQ RDQ[GN P]KL [CHDQ [QC GF CUD TH]G L[DFQ GC[SH
]YZ L PHZQD G[H]GQ [DF H[ZU PLQNJ PHNU O ZHD OC[L GSZ GQGDG ][LZUD JUD
RHQQ M[HYQ U[E CO PFCG O GHYQ M[HY COGH GI ONO HN[YHG UHFQ CQ[GH R[G ]KLOH PUK
GF CL OLUO TH]D UQQ RNH GHYQ M[HY PHZQD N JDUYF [HTLC RLC PFCO RHQQ M[HYD PCH
PLD[F FHDN H]CH OC[L ON FHDN CHG HFHDN PHQ MOQG THT [HZUO []HQ GQO PUK HD]N RL[ZHU
JUD [UYO LJFH
H[TC CO UHFQH FHUH UZ[Z EU GDLOJN JDUY PHQ ]HD L[HTLC GQN H[L]G MNQ ]HZGO RLCH
COH H[TC CO C[ZLUQ PLQNJ PUKG P LN ]HD [HTLC RLF PLLZO PFCG M[HY GI CGL DHH [DFG
G[H]G RQ [HTC CHG RHLN JDUY PHZQD PGL[DF HFLQUG
GQND GID HZOJS TH]G GC[GH [HTC M[HYO VC CL VFD TH]GQ JLNHG L FHL CSLS] GFHGLD UFHS ]DH]D PE U
RLSUO ][NISG C[DTG FYQ HSF TH]G GC[S GLG G[HCNO PLSHCEG L[DF COHOH [L]GO LC[GQ ]DH]Q CLDGH ]HQHZQ
HSZ] PLQNJ [JCO PEG G[H]G RQ [DF PL[ZHU CYQS [HZLU RZ]O PCHDD PLQNJG JDUY PHQ ]HD L[HTLC []G
GOLJ]NOQ PLQNJ RN HSZ]L GQO TH]O GZHG ODC [HQE M[HY DLJF OON JDUY [HTLC PFCG OU RLC
FL VF
GHHYQ HSLC LWO L[NSD CZHF PHNUO GF HK ROGO TH]U PL[QHC L RSLFZWQ CO LSWOF LSWOC
[HTC OC[LD ODC [JCO [HNQL LFN HO R]LO PLC[ RNO OHNQ R]] CO [HU LSWO F HCOD
LSWOF LSWO CO QQ LSWO RCN L[GH OHNQ R]] CO [HU LSWO F GI HCOD HOLNQ L[G
L[NSO [NHQ PC ODC LSWOF LSWO OU PLHHYQ RLC L[NSO GOZ]G P[E RCN CZHF FHU PL[QHC LH
HCLDG ECLZ FHL IKGH C[G LSWOF LSWO D VC PLHJ OC[LO [HNQL
DS