[LZWQD WNU RN RLFG ROGOF ]HZWTD VC ILWOH R]HSG ]ZIJD PLTNSG PLFLQUQ ZWTD KZS GC[S FDC[G L[DFQ
C[HTLCF C]O P RLC
PD CD[
PL[JC PLTNSO PLHJ LTNS ON [QC CO LSWQH LTNS [QHCD [DHFQ [W LQ LH
FDC[
GQ ON LSO ROHN [W C[G GSZ CO LS GSZ RHC[ LSO ROHNH RHC[O R]YZQ
H]UFD GLG CO RHC[O R]SN MOQS D [DHFQ [QHO ML[YH RHC[O R]S [JCO HO [CS
PD[ ]SHHN HIH OLUO H[QC HQN FQUN RHC[G RQ PE [IHJ CHG L[G ][JC LN LSO [CG ]]O
HL]HGEGD JDG H[LW LWO HD [IJH NQD
PL[FSD TH]G POHCH
GS]QH GLNI JQ [HC [WTDH@ RHC[O R]S GQ ]C PE LSO R]SH MOQS HKHWN ROHN H[W U
QN ]S]QD PL[QHC RLC JLNHG RCNQH PD[G L[DF KWNH CLEHTG [HCDD GI H[WN KZS JLK
]YZQ GSZ LSG RNOH OJ OHJO OHNL GQ ON COC GOHN GOKD GS]QG ]YZQ GOKDH OLCHG
>UU H]S]Q GOJ CO RHC[O PS]S [DN PLTNSG P]HCD PEG []HSG
]HD] LC[D SH N HWOJ]G RN PC PHZQD LQS LC OYH TK P L SH RHC[ GF EQ
PLSLLFG JLO L][KW [CN MN [JCO LN MQQ PLOUC CO ]QCG OU MFLQUGO LFN ]CI ON PUH
]DD [ZHDDH HCO LC LHC[ DLJ RQI OU GHOQ LC DH]N PHZQ PHD CHYQO DC] L]LLG ]D D[UD
L][QCH HD L]YYGH HGQ LSOCH RZI [WT LO CLDGH FJC GUD CDH LSLU ]C GDZG [LCG ]TSNG ]LDD
ZJYL HSLD[ FL ]DL]N G]LG ]JC ]HSL ]HDH] ]YZ H]OJ]D HD L]LC[H PLSGN ][H]Q H[LW CHG
L]CYQH L[FJD GLG PLQL GQN LN HFL ]DL]N LSC [LNQH H[HDLJD RN PE CLGH LOHC GLGH UH[I [HC
H]CO R]LO GHY ]HCHHYG OONDH PLSLLSU GQN GHY U[Q DLN OU HOC GSL GDH] RN PE P
HSHO HIH DLGH ]LD[
GHY GS]QG JNQ HD GSQOCG G]NI HGLQ GLSLQ GDH]N CLDE COH LHC[ LHG LC HOLWC ]LD[G OUH
FQUQD GWHE GHOQN R]O FQUQD CL[DD LQS C]LCF ]LDL[G GO R]LO U[QDLN ]S]QD GOUD
HS]LO LYQF RQIG ULEG CO RLLFUH HO UH[WO RQI ODZ RHEND LSHOWO H]CHHOG RSLZTU CO LQF R]O
CO LQS ]LDL[ RQI ULEG COF CSHHE LCG LND R]O FQUQD CL[DD GL]LCH U[QDLN ]S]QD
CS
>]LDL[ GLSLQ VLOLFQ@ LHC[ DHJ RQIO GCHOGF LO [[D]SF L]JQ GI L]HC[D L][UYH L]JQH
X[G F[WG P[KD GDH]G LFLO ULEGO L]LNI CO L][UYH ONG L[DFO LHC[ DHJ G]LQ [JCO HOLWCH
HU OL[GQ ]H MH]Q LSQQ
K Q Z VF
J L S Q LSC H]CHHYD D]N U[Q DLN HZL] HGQ RGD FHQUL HGQ RGD GC[L HGQ RGD GSGL
HOYC ]NLL GSLC HI RHO PHQ HGI OLUHQ HSLC CL[DD LW OU VCH OLUHQ MNH MN LSHOWO
ELZ
]UF VTHL
GHYQ CHG MNH HL[JC HLTNS JLSQH POHUG RQ [KWS CHG LWO H]S]Q RHO [ZLU CLG MN QND ODC
KHW GIH DY DJ CD[G D]N RNH DEW HL]HDH]D C[G D]N RN JLSQ LSC GI LSHOWO
PFC PH GID ZW]TL CO
RHOD OLE[ LQ D]NH HELG MF[GH GJSG RHO GOLUHQ RLC D]N FY GDH]D ZL[GQ POHCH
IUOD HI RHOD Q]GO PFC LSD PLOLE[ RN OLUHQ GFHQ ZL[GQ PE ]HIHUOG
GOLUHQ HSZ] CO G]LQ [JCO COH HLNUQH CZHF RLSZD HGQ HLTNS ON [NQ HGO CLUDLC
PEH [NQ RHLN ZWTG PUKH G[LNQD CO ODC GH[LN GCU U[Q DLN ] S ] Q D COC G[LQC
PLFQHC HLTNS ON [NQ RHLN CQ HC [IHJ HSLC FQU PCH GSZQH [QE HFL ]J] PLCYQS PLQFG
IC FQUN CZHF HLNUQ D [IHJ LHQSG L[DFO LWUC GC[SH VTHL LZHQS G]LQ ]QJQ COC [NQ CO H]UF
JT EJ [IULJC [IHJ HSLC HLOJD ODC H[IJO H]UF CSFQHC L
PDQ[H PD[ H[WQ MWGO PL[WQ L HDHJD HGSLU[WF CG HGLLSLUD LIHIO HGS]LCF CG
HSLC FQU PC HLTNS ]YZQ R]SN GI L[GH HOYC PLQFG H[CS LWO [IHJ HSLC PSLUD ]HUQGN
GQ[ CEQ RD L[ [IHJ FQU PC MNOG [HL HOYC RLC L[G PLQFD HL]HDHJ ]C U[W PC ODC [IHJ
JT EJ [IULJC ]HDH RCN LHQSD UH ]HQL LCFHD [DT CO L[G PLQFG [LCG PC S RLHFZD FL[G [W DHLNH
HO PLNLL PLTNSG HSO ZIJHQ RWHCD CHG RCN HZW]TS ZWTG HGQ GFHG U[Q DLN
GCQN RLF OUD ]CFHG LCFH GSN H]CFHG [LDT PHZQD ODC P]HSZGO COC GFUHS CO H]CFHGH
CDLOC KHW [DFN RN KZS P UQQH ILZT T KWQG ]HDL]S LWU TH]D CDHQ LWNH PHZQ ONDN CLG PLFU
UHNF
GS]G HOLCN DJS MNQ ]UDHS G[IJG ]H[WC COG C[H H]U FQUN H]CFHGQ [HIJO R]LS FYLN G[HCNO DHLQ GIDH
]CI PLSF OL COC "]HCLYQG G]LG MN GFHQ COG GCFHGD LCS] RLSU MLL GQH HQZ PD[ U ]HQC PC D GLOU
FIL RL[FGST CHIJD U LCS]D GCFHG OU FHU U N PL[FS DZUL ]HOGZD GID FQU [DNH G[HQE GCFHGN COH GCSZGN
JNZ OLUO [NIHQ GZ LL ]LD
CNLG ON GS]QD GL]LC GH[LD GL]LCF CNLG ON RSD[ GHLH GH[LN U[Q DLN ]S]Q
H[HLO LHC[ LQO R]HS [CN CZHF HZTW PLSHC[ GQN GS]QD GL]LO GH[LD GL]LOF
RHLN GOLUHQ GSLC H]S]Q IC CZHF GHFZD H][HG G]LG CO COC HSD GLG L[Q D[O [HTLC RHEN
LWU HLDC ]C [HL HOLCN GI CYQS GSZL [QHC G]C PCH RG ]JC [HL LDEO GS]QH GH[L RHO
]QCD RHLNH GH[L PO COC GS]Q PO RLHN]S CO HGHSF PLQNJ PHQ HC IK GLNI PDQ[
GS]Q H]S]Q PL[JCO R]S U[Q DLN [E ODC VL[G D]N RN QN ]S]QD HSLC H[HL HSLC
UHD WNH EQT PDQ[ VL[ RHCE LCG D[
ZHOLJ RLC P]UFOH MN OU HGQ] PDQ[G OUH VL[G OU HL]HEGD FDC[GH CHK ]HDH RCN C[G POHCH
HN[YHG GQQ TH]G L[DF ]HKWQ UQQ RNH RL[HTQNH RLDH]NN HL[DF QN [EO HSZ] CO POHUOH [DFD
RFG ]QH[] UUH CQ[GH [HKG HCLDG RNH FDUQ P]JNHGQ RNH ODZQG LDE COH CFLWZ L R]HS LDE CZHF JLNHGO
DS
FLZ
KQZ VF C[]D CDD
CO POHUO CD[O QN ]S]QD ]]O OHNL HSLC [E [DFG PUK HI GKLO [WO D]N LQ L@
PL[HL HO RLCH OLCHG [E MNOG PLLJQ COH GH[L ]NLL IC G]LQ L[JC PC LN QN ]S]Q GOJ
NQWO OWOW UH DJU ZJYL [NI LWU ]HHYO R]LS H[HL OU Z[H L[QEO H]H[Q ONG CYL ]QN
>RDQ[UH H]]LQ PFHZ ]JC GU OHJ] QN ]S]Q GOLUHQ LNF[QG
HO [QCLH JLO HLOC JOL [HTLC J COH CSOLIC CO LO JO LC R]O FQUQD LC
R]HS RLFG RNH R]HSG O JLO LU R]O FQUQ OLUHQ RLC RCNQ H]HJNHSD L[Q D[O ]]O
IQ FG]D CDHQH RDQ[ LWU JL C Z[W RLKE C[ GOU VLTHO COF HDG CQUK COD C]NOG CHG RHLN
CO [QHO ML[Y UHFQ CO PC FZWSG O HJ[N OUD OLUHQ R]O FQUQ RCNQ PLJLNHQ LH
CD[ GY[]LH HSQQ LLD]L CQ PLJHF LH HO GY[]L COH MOL MOL
LOUD [EG ]QH [JC FLD PLFZWHQG [E LTNS CDZ PLCHOLQ LSDCD ]CDHQ GDH]D RDQ[G JLNHG FHU
ON LQFN DHJ DH]NO OHNL [HTLC GLG ]HDEO R]LS PC LN PLTNSD GNI FZWSG RQ PLDHE PSLC ]HDHJG
RN GHU GLG PC PE UQQ COC HDHJD LIHI LWOC [TL[] R]HC ]HDEO L[Q D[ ONHL LFN HLTNS
P PLCHOLQ LSDCD U GLC[G HJFH HI GKL OU HZOJ L PSQCH OLUHQ GLG CO
HGHFQLO OU COC FLWZG CO UQQ LO LFTWQH LSLCO C]SUK L[QEQ CZ [QC CD[ FWZLC
CSHHE LCG LN OND RLHJ RLC [CHDQH [Z [DF HGHFQLO PHQ CO ODC RHQQ HFLTWGO GSUK
COF GF FQ OLUO TH]G HD]N HQNH RHQQ H]DLLJQ GQYUON GCFHGG PHQ C[ZN LIJQ O
]HQC UD[C HO L]]SH GC[GD DH]NO EGSQG ]HFHC CDLOC GF DZ ]HDH]N ODC GF DUZ ROGO TH]D UUH
H FHL CJ RHLYO [HC ]H LWU L[YJD
[QHO GO G[HGH ]H[GO GO [WC LCH LFQ PLFZQ GOYC XHLDG GCD G[GK ZTWG LSWO PLQL GQJ ]S]QG ]HFHC U@
U GQJ ]HSQO OJ] ICQH MO LSC GCQK ]THG CHD RQI LSWO PLQL GQN GOUDO
[D]TQ ON GN ]HQDL TH]U C[HTLCF CNL]J CWS CLH RLFO ]HSHQQ LSLFD FUD ]CFHG RLD GCHHGG OU
RHLYO [HC ]HD GI RLSUD ML[CG [DNH DL FJ UGC GQ ]H[EC ]HD GID UH CWS CLH PL[QHC RLC ][ZQ
GHG[IEQ ]HSHQQ LSLFD RLFOUD ]CFHGQ FQOS GH[U [HTLCD CFJ CWSC CLH RLF P H]SZTQH EC UGC ZOJD
>HI H]CHHGD H]KLO MOGH [DF [DF F
DJ PLOUW D[ ]HD NNH HN RLHFZ UHGL LSW U
[ZD ]HFHGO GOLJ]NO PLYULLQ RLC HD]N L POHCH
FL UGC
HSLC C]L[HCF PLSLF RLSUO VCH OSG TH]G ]KLN CL[DD [HQE RLSZ GHU GCFHG [DFG PYUO
PLSH[JCG HZOJS RNH [NHQG ]H[D HSLC XWJG [CN Z[ OLUHQ PL[QHC LH PLSHC[G RLD PNTHQ
XD] CTZ DL[G ]H S FJ CD[G ]H HQ QD PLSHC[D UU PLFU LSWD CO GFHQN OLUHQ PCG
RJG ]HYZD PLZTHWGH PLSHC[G ]HKLD GUL[LG ]DJ[GD GC[H IIS[ QHJ CQ[ FZ] D[ ]H GN EJH ESZ CJ
IOZ] PL[HU XDHZ FL UGC DJ PLOUW D[ ]H Q QHJ VTHL LN[D FYZ
CLG GCFHGG [H[LDD UFHL HSLC HFESN GI PHZQD COC OLUHQ HSLC C]LFHC RLSZ D]N LQ L
CD[ OYC PFLZWG PFHZ LOHC LN [Z H]CFHG ]HCFHD UFHL GLG CO L[Q D[ RCN HQN ]L[Z
RN OUH >HO L LOHC L[YJD CF HO L]LSZGH GC[GD RLD]HN GQ RNH@ [JC LU L[Q D[O PSZG
HKZ
]UF VTHL
UFHL HFESN PC ODC RLSZ [HYLO PE GOLUHQ ZLIJGO []HQ CGL G[H]G RQ GCFHGG GOLUHQ RHLN
C[DTD HZILJH FJC OHFE PD INHN ]HL]HC DQZ] JHC [IS LSDC ]H HFES RLSZ OLUHL MLC PHON GCFHGG RLC
GLC[DH
K J RLKED CDHQD U
[QCL FU RL[HJ RD CHG POHUO [QHC RHUQ [
DU
PSHONH PD]NN
LO LFTWQH LSLCO C]SUK L[QEQ CZ
CN QHJ PLKHZO OYI CHIJG RHO HI
LSLSUD GLUD DLLJ PFCG COC C L OLUO [QCFN HO RLDHYZ PFC O HL]HSHIQ ON CG GZ G[HCNO
L[Q D[ ]C FLTWGO OF]GO J]O LHC[ RLC CNGH POHU O
HSQLG GJHS PLQNJ JH[ RLC [THQ GLG PCH L[Q D[O [HTQO DLLJ CD[ GLG CO [HTLC ]Q PC EUCH
HFLTWGO RHNS RLC PLLJQ HSDO R]HS [HTLC PC PHZQ ONQ TH] HD]N HQN
CSLYQ HGOHN CD[ [QC DN ]LSU]D CGF [HDLY LN[Y OLDD ]HUQO M[HY HO GLG CD[F [WCH
GI OLDDH ]D D[UD LLWF CZ[L RLDI LHGH LLSUF C]ULU[ C]LC LSD LHGH PLLZ LCFHDH CSQLLZQ
D[H FTJH GZFY FLDU]Q ]HUQD UFL GID FLWZ GLG CO L[Q D[ PEH C[L]L ]HOF]GD DLLJ]S
D EU QD ]YZ UQQFNH ]HLHYQ HL]HSHIQ HLG L[Q
DLJF PDNUO OF]Q CD[ LHG CO D[ LD GLG CO LCF HSLLG GHG D[ LDH C[QED H[QCF CGF RN]LH
GKHSN KHLFG LSLUD GLG GIH ]JSD PFC LSD PU H[HDF CGL ML[YF C HW CQHL [QCFN PG OHOLJN
FLWZ COH PLQ PO HLUQF UFLH GHG D[ LD ODC UYDG [JC
PL[DF H[WTD D]NS [C FJC [WT [DJQ GOHEQ GDGCH ][]HTQ GJNH]D JLNHG DTZ QU CJ GLC[G ]H[ECD UU
C[HLE [HTLCF GI GUQ ]HFHC ]FN CO [C
GI GUQ RLSUD LOC D]N CKLO IHICQ Q[EG ]CQ D]NQQ UKZ GSG
GZ GSHC] LO G][Z GS PL[UQ GOUQO LSWO GID LLC [HWLT LO L LN GLC[G L[DF Z]UG ]HC[O L]ZLD GQ
FCQ FU LO GZ GLGH CO Z]HQ GLG VHE LYJ LN GLW[]HLILWD ZHTUO L]OJ]G PLFJ GSHQN PLOHJ ]LDD L]DNH CO
GJWQ DH[Z PU FHQLOD L]JJH ]LLO GQHZQ L]OWS [JC PLQL GU]N FO]G KD DHK ]D PHLD LN [HNIC GSGH
PLQL P]HCD ULWHG CQZ C[HFGQ VTHL KHZOLO H]QFZGD CKLO LU[EG D]N GQ OU GJLG GOEOE]GH ]HN[D ]NTQD
FYQ [HL [THJ G[HCNO GC[Q CU KQZ DDD CDHQG [HWLTG PE L]UFO [QHO L]NQGH G[L C[DTD JD]S CD[ LN
L L[QEO PLOUQ GLG CD[ GY[ HOLC LN [ZLUH OON CD[ FWZLC COH CQOUD C]HJLFD M[F Z[ ONG L[Q D[ LWON CD[
PCH GZL]D P]JZO DHK []HL COG GID L[KLQOH OZLQOH ]CI PT[WO HO GQOH C[HLE [HTLC OQ LIHI LWOC DL HFLD
GFD P TH]G L[DFQ GC[S HQN CO GIH PGD GLLNI PH MO LRC HO FLEL P]HC UHD]O HLDC ][LKW [JC L[Q D[ CHDL
HSD L[Q D[O VTNG [LDUGO CD[Q ZLD C[HLE [HTLC HOLCN U HNH HL[DF ]C CD[ PLLZ CO GQO GQL] HNH L[QEQ CZF
O GN[FN PLFLQO]G FFJO ZLD Z[ L[Q D[O VTNG [HTQO GY[ PLQ]DH ]QCD CD[ COC OON GIQ [NIS CO QEDH
CD[ [QC PL[DFG HOC ON N P PD[ RHHLN GIO LOHCH RLF WU ]HNIO L[Q D[ ONHL HD RWHCG HCYQL RUQO G[H]
IKZ
SZ VF C[]D CDD
FLQUGO HNH CD[ FWZLCH [HTLC LDQ C]LFHC ZWSH C]LFHC F RWHCG CZLC D[ CYQH GLG MN RNCH ZHFH NU RG ]HNOG
FQHU GU CD[ GSGH LQHOJD C[CH RLHU[F CHU[ ]D O GJSQ RQI ]HDLDTD GLG GI L]QF[SH HO L][QC NU FDOD PLSW
L ESL E HSZI [UH GQHZ ZHQS GLG LO GQFS ODC L]LC[ CO HLSW ]C HEH M[QLH G MN[DL PLSGN ]N[DD L]HC M[DQH LOU
IQ[G UHFLN RLQJ PLQD PLOE[G ]C XHJ[O L]UFD PHC]W GOU YHQD RNCH PHOJ GSGH XZLCH POUSH M[LDH LSWD UES
PLQL GQN [HDUN COW]G OWKQG FU [HCH MOHG GLG DYQG GDH CQEHOQ ]D LCYHQD RLQJ RHZL[KHS P]HDYUO DJQH
]CI UFHL LSC ODC G]HC OLDGG HNH RLQJ PLQ O GYUG HO L][QCN MO ]HDCHN RSLCH PLOE[G ]C ILIQ G]C GSG [QCO
CULI PLC[HQCG FJC OU ]HNI FHQLO ]HNID PHL PHL G]HC L]LTSH LO G[IU
SZ VF
GCWD ]DLLJ CHG ON UZ[Z [QHC CDLZU LD[ CL[ CS]F LFLLCH UZ[Z LS]LO COF CHG RLFD
ON UZ[Z H]CO D]N ]SQ PHQ LFLLC H[QC CO MNQ UZ[Z LS]Z LNG PHQ PL[HNDDH
GO D]N PC EO LJLH ]H]OLCG ]KLN JLNHGO L U[QDLN ]SQO []HL GNHQT CLG HG
[G ][UG ]C ILWO ]YZ DLLO LH GF LQH[Q CZHF HCO UZ[Z P PE RN PCH RLOKOKQD HOLWC OLUHQ
DU[G OU RCN
RHLC[GH LS] C]LL[D CLDQ GCWF EW LQOH[LD PL[HNDDH GCWD ]DLLJ CHG ON UZ[Z
PLJTW LODDD LQC LD[ [QC MNH GLC[G RQ [HKW UZ[Z HO RLC LQ PLC[HQC GQN H[QC GI ]HDZUDH
OYSDS C[EGQ RHLC[GH G[LNIG CO GSQGH ]HLSQGN ZHTWO HN[F LWN HI GNOG KLQG PDQ[GH J
CKLO
RL[HUL [CN LSLTQ GQO GNOGQ PSLG HOOG PL[HUL G[HCNO T[WH GSQ ]HIIHE ]HOJ[ QJ
HOOG PL[HULG [HZQ OU HGQ] TH]G L[DF OU GQ]H PL[HU XDHZ G[H]D
IOZ RLOHJ ]UF VTHLD U PLQNJH CTHF LD[ L[DF [HCDDH IEG ]LC[ L[HUL RLSUD FHU
RHOD G[LNQ HC GS]Q L]Q H[CD PLSHC[G LSZ GLLQ] LSCQ ON CLSOWO LOKOKQ [QC
PL[DFG TJLLQ PHZQ ON CDKL[G D]NH ONG ]OOHN CLG L]QH PLS PLD[ KHULQ OU G[HQ PLD[
HFNH ]HUZ[Z PL]D [QCN Z[H OOND POHN CHDL[ PG HOLWC LOKOKQ LTNS L]D RHEN HLOC
PLS PLD[ KHULQ
PL]D ]HUZ[Z HQN ]LK[W RHO [QHCN COC PLS PLD[ KHULQ H[QC CO D]N [HCQG OUDH
ONG GDL[ PLTNS HC PLOKOKQ RHEN ]LOON RHO TWH]N ODC PLTF[WH PLFDU
RHO HDNQ ][WN LSL[G D[G L[HQ HDH[Z MQHT GLG HLOUH RHLEGG ]NCOQQ RHNSH ]QC [DF GIH
[HCQG OUD LHOG GLJ[I [O GJWQ DH[Z GLG LHOG R[GC LD[ GC[G HSLLG D[G L[HQ H CDKL[G
RSD[ RHZ] CO LOKOKQQ RSD[ HSLZ] LUZ[ZQCF GDH]NQ [DO [HL LHG LOKOKQ HGOHNDH
GDH]N PLDHE RLC C[QEG RLFQ FHUH GT PL[FS GT RLHFZ ]HQHZQ GQNQ PLSHC[ HJLNHG
ILZ
DU