CS VF
LWOL CZ VOLQF OQZ CQOUD LIHI CQLC PLOZ HGD DL]N COF RHLN CSLQC M]UF CZOT
G[H]D [HQCG DHYZ VTN ONO PLFQO G[HCNO GC[SH L[W RN LTC D[FNH DHYZ VTNQ DHYZ VTN CHG FHQLOG LFFGQ
FZG OZ OU CHG [DHFQG
H[QC RN PL[SLF PL[UO GSHHNG VTHL ][LNQD PL[HQCG VTN PL[U HSLYQ PL[WQDH ED PLOZ LQOH[LD POHCH
FHUH [SLF PL[U HSLLGH VTN PL[UD H[HND HSD ]C GFHW FJCH FJC ON CGL VTN PL[UD OJ[ [HND ]C H[NQ LWO P
OZG ]LYJQ HSLLGF GUDK HOZ R]HS FJCH FJC ON CGL MNLWO GUDK ODLZ VTHL LJCQ FJCH FJC ON LWO H[QC
PL[SLF LS
GFQG MNO PH]TO COH GNOG HSFQOOH [WO DH]NG CD RHLN GUQO UEHSD G[H]D [HQCG OU Z[ [DLF LTC D[ RN]LH
CO GUQO PSLC PL[DFD ODC [HWQG RQ PH]TG FHQOO CLG
IKHK QHJ CHIJ UUH CYZ YZ KWZ CJ FHL GQ ]H[ECD ]HNL[CD U
]HSHN[FO PLOZ RLW[YQ
FJO ]HHYQG T[KSHZ GJ LHOG KD GZ MHSLJ ]JSQ [ U ]HSH ]HUDKQD OZG ]LYJQ ]SL]S RLSUD FHU
RLC RHLN PLZQ L LHFW HSLC HSDH HO R]LO DLLJ PLUOT GQJ R]LO DLLJ CHG RGNO D]N
"LHFW CGL MQT OU COC HO FDU]GO H]SHHN RLC COG HO R]LO DLLJ UHFQ LHFW HSD
]HS]Q ][H]D RHLFWD RGNG GNI L[G DUD C[QED H[QC HQN LHFW CHG G[H] RLFQ RHLN PLY[]Q LH
L[DH DU ROGO U C[QED [CHDQ COG MN OU ]HZGO L POHCH EZT G FHL IKH HDO LWU GSHGN
CO [KG ]SL]S ]UD RN PCH R]LNO COC LHFW HSLC G[H]G RQ PE EZ ]HDH]ND [HWQ RNH TH]H
FHF FL DY MHSLJ ]JSQ RGNG GNI
HO R]LO PLQNJ HDLLJ MNOG GI [KO VZH] L L[G R]LNO LHFW G[H]G RQ RHLN PLY[]Q LH
TSZ PHQ HC FY VF RHQFZG DZUL ]OGZ LWU [ZWG FD [ZWG RLFQ LHFW CGL CO H[QC LWUC
P OCL[IU [ LHFJ EZ ]HDH]N GCOWG UUH FHF FL LWU LHFW CHG G[H]G RQ RHLN MND PLOLE[ HLGL CO
VTHLD U KHULQH LHD[H K[WH OON ]H[F RLSUD ]HKLH PLOON LQHNLT
LK[WH LOON LKHULQH LLHDL[ L[F
GO [LIS ]UF
LTHL LD[F CDLOCH PLOZ PLFZD [WO RLCH CQLC "CHG GFLF HCO CKLW ]HFZGD COH
PLHFZ PLQ H]UFO LHFW HSD ]QCD [WC LN PG PLOUD RHQQ [QC LOLOEG
C]QL]T RHUQ LD[D [IUOC LD[ L[DF HI GO L[QCH C]QL]T GFHGL LD[D LTHL LD[ L[DF HI DU
PGL[DF GC[ >P[DJ GLG@ LD[ O RLOHJDH JO RLDH[LUD HOOG PLQNJG LS LWON GI LHSLN HSLYQ
L[ LWU P]TD GSQD PCSH GD[G ]HQHZQD
CYL HO H[LIJGH HOKS RSD[ HS]F CGO CSLS] LC[ GS]QD HO R]LO RGNG GY[ PC MNLWO
COG GSQD MNLWO RHO HGQ GI LWO UYH RHLFWG [JCO HO [LIJQ RGNG ][DFQ HS]SQ [CHDQ CGO CSLS] RHOQ
PE UH GSQD L[W HQNH LHFW H S L C HSDH HO R]LO DLLJ RGNO D]N PFHZG UKZG OU PLTJL]Q PL[DFG UQQ
RHLFWG [JCO ]HUQG ][IJG RLFO OON MLL GI RLC RN PCH P [
CQZ
]UF VTHL
D[F GLQZ CS]G GS HQNH R]L FU GI [KD LHFW HSLC LHFW HSLC HSDH R]LO DLLJ GSQG H[LW [QHO L LOHCH
]T[EN ] D[ [QC RNH@ HS]SQ P]TC LCZF UQQ C ] Q L ] T L[DL[ L[DF HI HO [QC RQJS D[ VCH RQJS
L[DFN RSD[FQ COC HSLC COG LHFW HSD RLC PLQNJN GNOG HZLTG GQ LWO PEH >GSQ P]T OU ZOHJ HSLC LCFHH C[G
Z[ ][DFQ GSQG L[G G[H]G RQ CO VC OON RHLFW RCN RLC UQ]Q LHFW HSD RLC CS]G RHO GC[S MFLCQH COHU
GS]QD HO R]LO RGNG GY[ PC MNLWO CS]G L[DF MQG TJL]Q GI OUH CSLFQ RHLFW RCN L R]LNO ODC R]L FU
CGO CSLS] HGIH >C]L[HCFQ HSLLG COHUOH@ RHLFW OJH ]HUQG ODLZ [JCO [QHON LC[
PH[E HSD[ [W RNH R]L FU LHFW HSLC HS]SQ [WO [WC ODC GF TH]G HD]N GQQ GI H[LWN JLNHGO LH
H[LIJGO RGNG GY[ PC COC GSZ] HO RLC GSQD L[WN [W]GO ONHL CO RL]LS]QF MNLWO COG ILWOH HS]SQD
OJH R]S [JCO TJL]Q MNLWO G UQQ COC PLHFZ PLQ [WTD GZG RN LHFW CGL RNC RGNO R]LNO L[G HO
[HQCN RHLFWG
]JC ]DD PLSGN G[UO [W L[ CYL GI [JC GID CYL ]JC ]DD PLSGN G[UO HS]S
RNO DHJ RHU[WN HGL[G RDG RHLFW HL[DFQ PLZLLFQ L HO MOGH PLUOT QJ POHN LSWO JLSG
O HJ[N OUD ]HFWO OLUHQ GI LWOH RGN O HFLO GSL]SD M[HY RLCH ZO]TGOH PGLSLD JLSGO OLUHQ
FZT EQ[ RJG ]HYZD ]CDHQG FJL[WG ]KLNH DHJ RHU[W HQN RGN
UUH RKZ RGNO RNH RGN O HJ[N OUD GSL]S GOLUHQ RLC [DHTH ZOHJ P KWQG ]HDL]S [WTD POHCH
KY ]HQDL ]UF VTHLD CDHQDH N[ CJ FHL GQ ]H[EC
HZLLF T]JGQ P ]WD UUH HG FHL JDH GL[W U PLZTHW GQN GSG [JC RWHCD L[ L[DF [CDO LH
OLUHQ RLC [ J C T[E C[GQG POHCH FHUH PLFZ RCY EN F J C RGNOH GI [JC GID L[ L[DFQ
HQUK [CDO LH > JQ TH]GH ICL PL[HND PDQ[G ]UF RN RLCH@ GI [JC GID PLSGN GQNO RHLFWG R]LO
RHLFWG GI LWOH JQ OLUO H[QC HQN QJ LYJ D COH PLUOT QJD COC RHLFW RLC ]QCD LN [DF O
OHNL RGN ON PLSGN GQNO RHLFWG R]HS [CN [QHO L RN PCH QJG [QE O LWHTG PHO]D Z[ OJ
RHLFWG RLC CYQS RGN PHO QJ R]S CO L[GH QJG ON HO R]L FU RHLFWD GY[]Q HSLC [QHO
GY[]L CO PC L[G PLUOT QJ VHTD ODZQ RHLN FJC RGND POHCH RGN O HJ[NOUD CHG LN OJ
[LIJGO M[KYL P]QOG ]UD RHLFWO
PLSHC[G HY[]L CO PC RHLN HO MOHGH PLSGN GQN RLD ]JC ]DD RHLFWG ]C JLSQ [CN PSQC
GQHF GI L[G RHLFW PO JLSG COC HQYUD PGO R]S CO L[G HOKS GQ [LIJGO HN[KYL RHLFWD
]JC ]DDH FJC RGNO GSL]SD COC OLUHQ RLC GI [JC GID [QHO L[ ZLLF RNOH FJC RGNO GSL]SO
]HLSQG OU OHFE [HC LWU RHLFW PO PGLSLD JLSQ RWHCD PLSGN GQNO GSL]SD PE OLUHQ
RHLFWG RHLN COGH RHLFWD PLY[]Q PSLC PC HO [LIJGO HN[KYL CO UHFQ RHLFW PO PLSGN GQNO R]HS [CN L]SDG CO
GS]Q PO R]S COH RHLFWG ]HOJO HY[]L ]SQ OU Z[ R]S LCFH L[G PL[IHJ ]HUQG COLQQ PLOG CO LN OJ CO
DLH PL[HCDH PLHFJ FHF FL CKL[GQD ]H[JC PLN[F UU
HS]LS GSHGN ]HS]Q UQQH GNOG HC[HZ L[G EHGSO LHC[ RN UQQ HI GNOG VC GI PLLZ
PDQ[G ODC [LIJL HO LHC[ M[HY HO RLC LQ MNOG GOJS HOJS CO PLSGNG LWO M[HYG ]QJQ
RLC PHQ LOHCH HO [WC LQO [DFG LHC[ [LNIG COH [LIJQ [LIJGO GY[ PC D]N JCL PL[HND
PLHFJ LWU LD PUFLQ CHGGN G[IJD ODZO LFN GSL]SG ]OLJ] CG] HJO L RN ELGSGO LHC[
DLH PL[HCDH
DQZ
CS VF ]H[HND
CO GLO [QC GLQZ L]CH OLIC CZ GHGF C[DE CHGGO GLLIJ [FGQH OLZH OLE[ GHG CSLSJ LD[
CHGH G[HQE GS]QD R]LO ML[Y UFHL PFC RN]L LHFW HSD RLC MNOLG LD PUFLQ ]DLGLH ][QE
OYC GOLE[ HI GEGSG RLC COC HLSWO MOGQ CHG RNO [LIJGO OLE[ RGND UFHL CHG RHLNH RN GHU
RLDG RN GU GOGH ]HS]Q [JC [FGO PFC LSD O PN[F RLC LN RGNO ]HSZGO ML[Y UFHLG PFC
H]UF G]LG CO L[GH [LIJGO ]SQ OU HS]S HC GUO GS]Q Z[ ML[Y RLC [HDT GLG CSLSJ [ HD
G MG [LW HQNH TH]G HD]N HQN G[HQE GS]QD COC [LIJGO QU GS]QD ODZO CSLSJ [ O
GOKD GS]QG MNOG HZT
PL[DF COG [LIJGO ]SQ OU HDOD DJ GQ HSO ]WNC GQ HSD RHLFWO P]T R]S RHLN RLLUO LH
[FED HSLCH LHOE ]UF RFQHCN GI L[G HLUQ MH]Q [DFG [NLSH OLCHG HD]N TH]DH "PL[DF PSLC DOD
LCG LND PL[QHC [WCH "]JNHQ CSFQHC ON G]LG CO GSL]S ]UD COG GZ ODC DOD PL[DF
QU PLFZ LC RHIJ LWU H]OLJ] OU HWHT JLNHG CSHHE
JLNHG PL[QHC PCG PLSHC[G ]ZHOJQD HI GOC GO]H DL FHL RHLYO [HC ]HD OYI OHC CDC YD[EG D]N GID CYHLN
G[H]G LSLFN PLEGS]Q PSLC HSLQLD PLD[G PL[EG RLSUO CLYHG GIQH C[ZLUQF DOD H]UF ]C ]HOEO H]OLJ] OU HWHT
GQO P]ODZ G]LG CO H]OLJ] OU HWHT JLNHG PL[QHC CQ ZWTD ]OKHQ P]H[LE ]HHYQGH
PL[DF [HQE RHLFW RHLFWG L[G G[IJD ODZO ]SQ OU R]S R]HSG FYQ ]UF LHOLE PH HSLC[ CO PC GC[S [HQCG [HCOH
D[G L[DFD UQQ RNH RN GC[S RLC JLG UHGH JCL PL[HND PDQ[G L[DF ]QL]TQ POHCH PL[DF PSLC DOD
[IS LSDC UUH LHFW RDG RLC RGNG HO [LIJL LCFHD ]NQHT RDG LDC ]UF PC C[QEG RQ GC[S D]N OI C[HSK[DQ
DDWZ FHL
RNH GUQD HC GWD GOLE GQQ ][JC DJ HO PLSLQCQ HSC RLC LWO PL[DF PSLC DOD PL[DF GI P]UFO LOHCH
HKZ LDY PNJ ]HD D]N RNH EQ[ QU GO] ZGTHQ GDH]D FL[G NNH PL[FS GUD[C W[ GFHECD GI PUK D]N
GS]Q PO HDOD GLG CO HQYUD UFHL PC MNOG PL[DF RLLHG HDO ]DJQ G]LG MN HELQ ]HSQCS HO L PC MNO
CO LWUC REHGN ]HHYQH G[H] ]ODZ ODLZ CO HQYUD UFHL PC ]H[LE RLSUO FHQOO L GIQH@ LHFW HSD RLC G[HQE
>]H[LE H]H[LE RLC ]QCF CDLOC PL[JCO [DFG GOLE
RLHFZ R[H CDKL[ U PHON DOD PL[DF RLC HDOD GLG MN CLG ]QCG PC HOLWC UQQ PLSHC[ [C L[DFQ POHCH
UH C LT LDY PNJ ]HD UUH S RLHFZ FL[H]D [HWQ RNH PC[G PD FS[ ]HDH]N LNF[Q RLKEF FW[ TH] S
[DFD ZOHJ RLC HSFFY KQ RLHFZ ]UF VTHLD CDHQD
RHLN GS]QD COH [NQD COC PL[DF PSLC DOD PL[DF PL[QHC RLC PLSHC[G RQ GQN ]UF LW OU [CDO [WC FHU
PL[HDEG LKO P RLHFZ FL[H] LWU JNHQF CSFQHC COO VCH GUQG OKDQ HGON ]UFFQHC HOLWC PSJD R]S
[H GS]QN HSLF RDG RHLFW PE OL ILWOH NHSD UH PL[QHC L PD FI[ QHJ CQ[ ICL[GQ CLW ]HDH]N
PLSHC[G ]ZHOJQD GI RHFLS GO] DL FHL RHLYO [HC ]HD
OHJL DCG GY[L PC GI RWHCDH RHLFWG ]C HOYC [LCGO OHNLH HDOD GLG MN HSLQCGO DLLJ HSLC RGNG GC[S POHCH
ROGOFNH LHFW G[HQE GS]QD G]U RHLFWG
LCFH [LIJGO CO ]SQ OU HSD RHLFWO HS]LO DCG PLNTL CSLSJ LD[ FLD RHLFWG [CN G]U PC
LHFW HSLC LCFH CSLSJ [ OYC RHLFWG ]H[CLGD DCG RHY[ RLC PCH HLNU LHFW HSD
[LUG RHC[G H[LWO HGLSLD CNLC KWG ]HUQQ COC CSLFO PLZOHJ PSLC L[D ]HSHOG L]H
LHFW HSD RLC HO [QCH P[LIJG LSG H[LWOH PKLOJGO PLNTL J[ HO
L[GH GU GQD LHFW HSD RLC HO GOLE RHLN U[WQO J[ GNI RHC[G H[LWG LWO [QHO L FHU
EQZ
]UF VTHL
LSG H[LWG LWOH G[HQE GS]QD R]S HLNU GOES RN OU RLKHOJO R]HS GLG RN DCG UFHL GLG HOLC
PEH RHLFWO HLNU HO R]HS CHG HO [QHO ML[YH PHON R]S CO GSL]S ]UD RHLN [DFG OLUHQ RLC
ITZ QU PLFZ CHIJ LWU [JC RGNO R]LO OHNL
RHLFWG RLC GLS RHOOH LHFW CHG L[G GSHC[ RHOO G]U RLUD RSLC RHLFWG ]HUQ [CN ]HSHOG L] RLD C]HZWS RN]L
DS LTHT GJ [DF DLQ ]HD U G]U OHJO OHNL
CL[C LZO L[F [Q]LC LNH GFW] GFW MC MO GLGL CQUK LS]ZFN CG CWW D[ [QC COC
ON MN DH]NG ]C H[F GC[S RO CSQ R]L R]S CO WUC PHL PLO [JCO ]Q [Q]LC
PFC [HNDO PGLSO ]JC GLHG GLGL MO GQGDDH PFCD GO HDL[ZL [C [D ONO PJ[ [KW
PDL] DG OU H[F M[FN@ PLQUW GCQ HOLWC PFCG [HND ]C GFW] GFW MC GQGD [HNDOH
]CH DH ]HFWO DLLJ RGN FLO HCD PFHZ L[WG ]HUQG HFDC PC PE [QHON > JO] JO
ULEG PFHZ ]QH GD GFW PC H]HL[JCD DLLJ HSLC FDOD ]JC PUW GFW] GCQKG GQGDG [HND
RGN FLO
DHLJO H[F RL]LS]QF CS] RHLNH ]QOH LJO ]HLLFW L] GFW] GFWQ RHW[K [ [F EO L[WTD@
GHG[IEO HN[YHGH ROSQ HOC MNLWOH ]QQ RHLFW DLLJO []HLQ C[Z HO RLC MNOG [HQCN ]HL[JC
UU HKJL J[Z GQNJ MQ LWU GLC[ ]OHUQ HC RLN[UQ
>CI ]HLFUD FDC[GO CYQS H]HL[JCD DLLJ RCNQ PLQUW GQN HOLWC GFW] GFW [FG H[LW [ZLU@
HFDU]S [DN GCLDGO PLDLLJ UZ[Z H[L PC RD[ZG L[WG CO HOLWCH RLDLLJ RL[HL ROGO GQ
UQQD L PDQ[G RHO ZHLFQ POHCH C GELEJ LQOH[LG LWU LC GELEJ GSQ PJOH GSQ VTN PLTNSG
RDC U L[WGN COC PLDLLJ RLC ZTW PDQ[G D]N LQ LH P PL[WQG MN OU H[LUGH L[WG CZHF
FLD GLNI OICG
HFDU]SH GLC[ ]OHUD DLLJ]S [DN OE[G O RHC[ PHLD [JG GOUQ ]QN CZHF D]N Y] MHSLJ ]JSQ [WTD
L[WQ C]OQF CQ]TH GHHGD [DLF LWO L[WQ KZS PDQ[G MNO ILWO RN]LH PL[HKW RNO PFHZ ]Q ODC HLTNS
]HOUO OHNL GLG CO IC ]Q LQ C]OQF CQ]T PE@ OE[G [ZHDD ]QH L[WG CO [CQ []HL [DFG LHYQH OE[G PFHZ
ELC G[WN L[THJQ D]N GQ OU MQTH LQOH[LO PDQ[G GFHQ CSLFO ODC >GLC[GQ [HKW CHG L[GH [ZHDGQ HLOE[D
G]OHU PL[HL HCLDL GL[WG CO HOLWC G]QH GOHUD GDLLJ]S ]FOHL RLSUO
DS VF
GLGL [C ]C PGD DH]N PLSDG [C ]OJS ]QHUO ZIJHQDN LHC[D COH HO CYQL [C OND
ZIJHQDN LHC[D OKHS RDG RCNQ L[WTD H[QCH HO
ZIJHQDN LHC[D OKHS RDG FQOQ CL[KQLED HO GLGL [C ]C [DFO IQ[
[C O VOCH OND O FQOH LHC[ ]HDL] LWHT LN HO CYQL [C OND [QCS [HNDD HOLCH
CY] PL[HKG OUD LWU LHC[D PLS LW OKHS [HNDG RLC LHC[ CO [QHON CO CHG
OLZ CO LQS GZHOJO PHDL RLDF HOLWC [QC CD[ CSQJ[ GLL[Z [HND "CQUK LCQ PDLG COH
FQZ