OU [HTLC P OJ RLC []HQ C[L]GF KS [D KS HSLYQ RLUNH@ []HS GUS PFHZ GOUEG
]DJ[GD GY ROGO CZU[ U HOZ PUK OU VC [HTLCG OJ CLG DH]NG ][IE FDOD ]CKJDH >HOZ PUK
P DLYSG LHFJDH RLSUG
[HTC POHCH ]CKJDN PLFZ [CD RLC G[LD ]HYQ PDQ[G ]SHHN [CD L DIO CQZ LC RHIJDH
H[DHO GHHYQ HSLC HD Q]GO CD HSLC PC GSLQ CZWSH [HTLC HD UHOD RHLN LOND Q]GO
FHZDH H[DHO RWHC OND ML[Y ]CKJN CO
RLQ G[H]G RQ LN HSLQO GI LOND Q]GO []HQ PLFZ [CD C]L[HCFQ ]H[JC ]H]HZWS L RNH
G[H]G RQ []HQH PEWO PUK R]HS GI L[G []HQ ]UO]UQ [JC HD ODO RNH DH[D OKD HSLQD
FY VF
DLJ LUD LCF LHC[ LQS CG LHC[ [QCF RCQ HGLLSLD CNLC OQ G]HJW ]LOKQ LLDC [QC
]LOKQ UQQ CLG GCQHK LOHDZ ]D HCO CGLQ CG GCQHK ODZQG [DF [QCF RCQ GLOU
RZ]O RHEN HQLO GLOU DLJH GFJLL PC GCQHK ]ODZQ ]HUDYC O OU ]HUDYC OQ G]HJWG
POHCH JJN PLON [UH ]HLSOKQD GF T GFS COF GF IK GNHT TH]G ]KL CLG RN PSQCH GD HZHOJ
GOLUHQ RLCH PHONQ [HGK ]HUDYC E OU EQ ]HJWD [CHDQ FDC[D UH EEN CNDN PLON PDQ[D
GO RCN T[E [WCH H]DJQ GOLUHQ P L J W K GO OU GOQ ]HJWD Z[H GDJQ HD
ILUN HGLEG OLUQ GF GY ROGO TH]D UUH GFH] JDID NNH [G D]N RN ]HUDYC O COH PLJWK
]SDHQ L]OD HI GGEG [LUG P LGZ ]HSHLOEDH O PHZQD GO P GLEG GY ROGO JDG ]HGEGDH ]HQHZQ GQND
UYH RCN GQHZQ HI GGEG LOHCH L[QEO
COH GCQHK ]ODZO GUQ [THJQ FED HOLWC GFHGL LD[O MOHG H]KLO PDQ[G PE [WC MC
CLEHTD TH]H L[ ]KLN COFH GJ ]HSD[ZG GUQ ]HNOGD HL[DFQ PLSH[JCG HZLLF RN THDLN RHUK GDJQ Z[
]HJWD VC NC GCQHK ODZQ FCQ RKZ CHG HOLWC PO FED EN ]DD [CHDQ COG MN RHLNH
PLUES LSLFD T[KSHZ TG OU J[EG LHFJ LWU PO HGUL PC GCQHK ]ODZO LHC[ ]HUDYC OQ
FLDUZ P]G L[L[ HGO ]LC MSG "LQS L[UH LKLJ LNG LC DLLJ PLQO R]W Z[I DU
PLKLJ LU[I HC R]W Z[HIG ]C U[HI PHQ DLLJO RLC CLEHTG ]SZTQO UQQ GLO
PLUSH R]WG L[L[Q PLDU]Q PLQG LSWQ O PHQ DLLJ R]WD COC ]DD PLQO PL[HUH
GTLU RLUN
PLQD PGD CYHLNH PL[HUH PLKJ G[HG CLHO JHC MH[U RJOD CHG RNH ZTW DJ ]D PDQ[G POHCH
ZOJO D]NH HS]LEHTQ DLZTD P PG[DC REQD GQ] [DNH CHG OND DLLJH U[HI ]FOH] GI L[G
RCN HOLCH > G [ H G PSHOD HKZS MNOH@ PHL LYJ HQN GDH[Q RQIO GLL[ OU PL[DFQ PLZTHWG
PLSH[JCG ]HUF HZOJSH@ GLO PHQH R]WD COC DLLJ HSLC GID KUHQ RQIO PLQD GSL]S OU [DHFQ
PC VC GJLQY PFHZ PCLYHGH PLQD P[ RWHCD HC ]DG [JCO HJWS]LH HJQYL RWHCD ]DG ]CYO MHQT P[HN
MTHQ MHSLJ ]JSQ U [HKW [WC JQY CO PC GJLQYG PHQ Z[ CHG [HTLCG RCN GI RWHCD DLLJO KHZSS GQFCD U[HID
H[L ]UFO R]S D]N RJOG MH[UD [LUGO LH YGUDH CSZT P DSQ U[HI ]NCOQ OK LOEC DCL PFC LLJ ]DG
>]DD JQY CON PE DLLJ JNHQ HL[DFOH PLQL GQN P
IY
]UF VTHL
WUC U[HI PHQ DLLJ MND PUK VLTHG COC CL[] C GJ HL]HDH]D IDF[G D]N GID CYHLNH
NLU GUL[IO PLJHS PLUS PG GLL[G LFL OUH ]HLG [WU P RLC ON PLQD HJQYL CO PLU[IG
RZ]O RLHN]SH PLQD P]HC G[ PC LO C[D]TQH U[HI ]NCOQ ]FOH] HI GLL[ RNO G[GQD HJQYL
CLG GSLJKG ]NCOQQ GI RJHK PHQ DLLJF GSLJKO P]HC
DLLJ UZ[ZGQ GZLSL ON PLU[IO RLCH DHZS HSLC HD G[H LONG LW OU VC GI HQUK LWO RDHQH@
RLC MNOG GI GUQD GUL[IG ]SNG LSWQ COC ]LHNUG GJQYGG PHQ HSLC HDHLJ LN U[HI PHQ
DHZS HSLC PC DHZS LON CHG PC ZHOLJ PH
LSWQ Z[ GI [QHO L MC PDQ[G D]N HQNH PLQD PLU[I ]LL[D [HTLC RLC ]LULD RLSUOH
PLQ LOHFLE ]UL[I ODC UZ[ZG ]FHDU GSLC HI L[G GUL[IO U[IG ]SNGD [HTLC RLC ]LULDD
PHZQ L GUL[IO GSNG [FED GSLCH PL[HQE ]H[LW ]JQYQG GUL[I CLG GSH[JCG ]UD GFJ]S
]OHUW COC GSLC HI PLU[I ]LL[D HSLSWO RHFLSO MLL GI RLC [HTC ]LULDD HOLWC RHFO
> LDY [G LWU GUL[IO GSNG
FT] GDH]D HQYU PDQ[G D]N [DN PG[DCREQG L[DF ONN [LUGO LH CEQG L[DF OU HGQ] PLSH[JCG RQ L
JW]L LFND GDH[Q RQI OU [DLF LN G[HG D]NH ZFZF MNO D]NH H[HDLJD D]N GQ OU HS]LEHTQ GZG OCHO
[]OCO [DHFQ RCN HOLCH GUL[I PHQ DLLJ MNOH JLQYLH
ENEL PLJDI PL[HCDH PLHFJ PFC ]QSD UUH
MHN H[QC MN P[D LFLD PG ]HUK PNLSWO L][QC PL[DF [FH GLOU C[HQC CD[ LZHC [FG
]OHUW COO MHONOG ][TGO PLQ ][DUG HSLLG M H N PLEHQG L[HCD GSG [HTC THDLN []HQ
GUSUS HSLLG PLQD D[ O HOUS MHNH UHSUS CHG MHNG ]ODHZQG RHOG ]HKW LWO HQYU [DFD ]WTHS LHZLS
[DFG [HWQ RLC PLZTHWD COC ENEL PL[HCDH PLHFJ [WTD NNH PNH]D
PLQ PU XWJD ]LUSG LHZLS ]OHUW T H D L N
COC GID GI VHWL CZHF HCO GC[SH PLTDNQG M[FN GID GI [DFG LZOJD VHWL T H N T L N
CHG THNTLN OOND LZS CGL HJLFQH MHONLOG PHZQ ]C DKLG VWHJ ON
[HUD [HTC THDLN ON CD[ [DHT CSZTQG LWO PLZTHW [CH VL[GH PDQ[G L[DFQ UQQ GSGH
PLN[ ]H[HUDH@ FDOD MHN COC []HG CO PLZG ]H[HUD VCH THNTLN COO HOLWCH RSD[FQ WNU
THNTLN GLO ]LOF THDLN ON GOLJ]D [QC GQH >C]L[HCFQ VC THNTLN COO THDLN [HTC [WC
C]L[HCFQ THDLN GLQ CO CSZTQG LWO [WO RN]L PE@ CSZTQO GIQ HD [IJ THDLN GLQ CO
>L RSD[F [HTLC ODC
RNH [TCS GI PU GI HLZOJD VHWL Z[ UQQ LDD GNH KD JHC MH[URJOG L[DFQ PSQCH
[DFD [LQJGO L GC[S GNOGO MC THNTLN COO []HQ PLZG ]H[HUD ]DD R[GH L[Q UQQ
GOC ZQUGDH RCN DLYSG LHFJD D]N RNH KD GNOG [HCD LWU THNTLN COO PE [HUD [HTC THDLN ON
U[HYQ ][W
RLF PLLUDK PLKHJ HC FD PGD RLC@ GQHFNH LQHE LWEQ QHK G]NOGN ]D ][LQ [WTD D]N@
]LOKQD HC FLD PWOQ USQLL POHC PLQ PGLOU PL[IGO HC PLQD P]H[O []HQ >THDLNN P]LL[
PLQD PGN
JY
FY VF t PLJDI
CLDGH PWWOQ USQLGO L MC P]H[O []HQ G P D]N ZLKTOWQH RHOLLSQ ]HLHUG ]HWQ RNH
PLQHFH OON PLUOHD PSLC L[G [HUO PLQHF PSLC HOC PLSLQ [WC PSQC OYI CI[EG PD
LHOG KD ]HD RNH C]L[HCF CZWT OOND CHG RN]L [DFD C[DTD OZGO RLC QQ XU LONO
OZGO UL[NG COH [DFD MNJ IO GJ
LONO []HL GQHFH [HUO R]HQFO RLC LN [DFD OZGO [D]TQ D]N HU DJ FHL GQ ]H[EC ]HDH
MLL CO RHLN PHZQ ONQ ODC PLLTH THDLN RLSUQ RLHZLS RLC ]HN[ ]HWQ RG PEGH ]HN]QH PLYU
VWO CO [LQJGO LHC[G RQ P]HC HC[ CO HSLSWO ]H[HF FJ RLQ CHGF [HWQ GI RLF CHYQO
CQOU LOHNO OZGO L ]HOZD PLQ LFL OU ]HZSO Z[H GI OU GI HFY VHW RLUN CHG ZIHJD PLFLD
GZQ GLHUG RHOLLS ]WQ V W O H VHKO [L]G HFN DJ OYI OHC CDC YD[EGO RHLYO [HC ]HDH
]JC
PEG GEH[C GWQ HL[DFQ UQQH RHDLO [HTLC PHQ GD L D]N FED HQN GEH[C CLG PC POHCH
P LHOG KD ]HD D]N RNH G[HTC G]LL[ HOLWCH [DF ONO FEDN GSLF PLKKSLT PL[QHJQ CLG
[HWQN THDLN MLL HD PE L[G DH]NG ][IE LSWQ HSLC GSH [HU H[QC GQ L[G RN ]S]HS GKHWG C[DTG G[HCNOH
PCH HTHDLN GSLC H]LL[ MNO >PLN[O PLZ RLD ZHOLJ L HQYU HD PEH@ PLFED [CQ GSH HSHLZS ][HYH ]HLG COC G[H]D
HSLF GS]L UHFQ PLFED [CN HTDNO HN[F PC [JC [QHJQ LO GQ LUDK FDQ FED LO GQ RN
[]HQ FDOD PLLKKSLT PL[QHJQ PLLHUG PLFEDD OZGO D]N G]NOGN ]D ][LQ D POHCH
PLFED [CN PLEH[C PG PEG HHK PLQD P]H[O
CO ODC LHSL COO FLD PGLOUQ ZDCG [LTGO [L]Q CFN P RHLYO [HC ]HD ]HZDHCQ [HU LOUS
]LOKQD HC FLD ]HOZD PDESO [GIL COC IOHK G]NOGN ]D ][LQD D]N DHLNH PZL[DGO RLHNL
[HULS P]T RN OU PNLT COC RLFG FYQ [L]GO GOUG RN PE LHOG KD ]HDH RZL[DGO CO LFN
LCFHD ZDCG RQ DL KHK[QTD JHSZ PE COC [HTLC RLCF LO CKLW UZ[ZG OU HLOE[D ZWHF GQD
> POHUQ [HTLC GID HEGS [DNH [L]GO LSHY[ RLC GIF COC [HTLC RLFG [ZLUQ RLC
T[J LONH O] RLLSQ T[J LON ][LD FZ
b PHZQD LOLQ LSG CSQ HN HFZ PHZQD THDLNG
l Z[QH
b GOD ]JS LOND PCH O] RLSQ GWLKH GZL[Q
LON ][LD PE [QHON PLQD VK:H
OU VLTHQG [HDLJG H PGD [QCS LWO ]HUS RG HFZ PHZQD ]HJS LOND GWLKH GZL[QH T[J
b PHZQD HD [HWQ FEDG THDLNO RLZGO RHC[G RLSU
GSQ VTN FL[G LZTW LWU FZ
H]HC PL[GKQ RLCH HU[HZO PLNL[Y GQ HFZ PHZQD HTDNQH TSNSH HU[HZ PLUOZO XHJ CQKS
ML[Y HOHN THDLNG L[GH PFG RQ ]YZ TDN]L GOLDKG LQ LFL OU PLHJ PHQ GC[S GOLDKD
CZHF FHZD ]HLGO
CYL HOLCQ []HL RN LFL OU GG]L PC MC HTDNLH GQ HSODKL GC[S G[IUG MH]D CQKS PCH
GFH] JDI ]QC ]W LWU HTDNO TSNGOH HU[HZOH ]CYO ML[Y GYHJG
HSLC JOG PF COG OL FHUH C]L[HCFQ XYHJ HSLC FLWZQG KHULQ L[G HJO RLC PFG PHZQD GYLYJ PHQ CWG D]NH
PHQ HC XYHJ MNOH PFG DLL]SD [DHFQ GYLYJ PHQ XHJD HODHK HSLC D]N OC[L ][CW] DH@ GO OLUOFN XYHJ
XHJD CQKS GSQG GKZS MNO CQH >C]L[HCFQ XYHJ HSLCH KHULQ LHG PHZQ ONQ COG DYH PLSWD HTDNO HLOU FLWZQ
GUL[Z RHUK NHQN HODHKO CC XHJD CZHFH G[IUD GOLDKD GSZ] HO L PLSWD CQKS PC LSWQ
OL OSG CWG L[DFOH HTLSNLH XHJD HSODKL CO CQKSH HD OHD LON UHFQ PLQUK R]S IUHD OC[L ][CW]D UUH
KY
]UF VTHL
OU ZHDF FLQUGO ML[Y GI LWOH XHJD ]YZ Z[Q]L NLU XHJD HOLDKGO OHNL RLC PLSWD HZ[QO ML[Y RHLN RCN PE
GOLDK LU ]CYO OHNLG RLUD [DF LONG
PHQ [QHO L CQKS OLUQ LDE ROGOFN O OU OQ ]HJW G[IUO HTLSNGO H[L]G CO
DLYSG LHFJ G[H]G RQ [HTC [HUL LYJ
GUQ GI RLC [HUL LYJ PHQ VC ]YZQD GTLSND RLC GCLD GQ CO ]YZQD GCLD [DHTG ]UFO GC[S G[HCNO C
[HUL LYJ GI RLC PL[WQG HD]N JLSG COH [G[D XWJ [ZU RHEN ]DD GNCOQ LYJ GHUO ]YZ GQHFH@ GCLD
EQ ]HJW FED TLSNG ODC HWHE ]YZQ TSNS PFCD CZHF HGI [QHO L MC >GNCOQG ]HNLCD LYJ COC ]HQND LYJ HSLC
]HQND [HUL LYJ GI L[GH TSNS [QHJG ]HQND Z[ COC HLWHCH GTLSNG GUQ ][HYD [WG RLCH ]HLG E OU
[DF TLSNQ QQ COG PLSH[JC H[LUG HQN [HCLD RHUK E OU EQ ]HJW CQKS OLUQ TLSNGO H[QC RLFG PYU PSQC@
GQLSW HTLSNQH CQK G]U CHG QQ COG GCQHK ODZO LFN HD RLCH FED [HULD HSLC TSNS ZOJG MND LO GQH CQK
>EO OLUO LDY [G NJ GC]LO] ZGUQ L[IU LDC CS LTHT ZJYL [NI IJL ]Q ]CQHK OG LHOG J[EG LHFJ U UYH
THDLNG PEH THDLNG ]UD FED P HLOU ]HLGO ML[Y RHLN OQ ]HJW HTLSNQ RLC MNO [JC PUK [WO RN]L
D
RLSUO PNH FHZD FED G RLC EQ ]HJW HTLSNQNH HFZ PHZQD GLGL FED G PE ML[Y MNOG FHZD ]HUGO ML[Y
OLUQD Z[H FHZD FED RLC THDLN RLF RLSUO MN CQK FED HSLCH Z]HSQ HOLCN TSNS ZOJG PLSF HSC GCQHK ]TSNG
FHZD HOHN FEDG COO HI M[FD TDNO XOCS UH[ZO ]H[WC RLC
G[H] [HTLCD [DHU CYQSH O OU OQ []HL TLSNL CQ RN ]HUO H[L]G CO ]HKLWD OL LNG HCODH
RL[WHT O ][HWUQ K ]D U
HFNH MHONOQ GSEGO FUHSG L[U [FHT RHLOU FED RLQ ][HWUQ
HDH[H HC[ GD GTNQ HSLC ][HWUQO K[W GD GTN] [C M]HTN CY] L[WT UH
L][QC PL[DF [FH GLOU C[HQC CD[ LZHC [FG CD[ [QC COC DUDH CD[ [QC [FG
LFLD PG ]HUK PNLSWO
GUQO G[HG ]HC[HGD VCH GSHC[G H]UFQ HD [IJ CD[ C[QED HSLYQ FCQ ]HD[ PLQUW
CD[ [QC COC CD[ [QC C OC IO P HO ]HN[DD
G CD[D UH CLZ DZ DY CU IQ IN ]D
FZ RLDH[LU
CD[FNH GF ET P CD[ TH] ILZ P Q P PLLQUW Q P DL PLJTW
IS CQHL
HQ GNHT
DU PH JN G[
J GYLD
PLQUW O HN GOLEQ
FLZ HU PLQUW CQ IO LC D[ L[QCF CNLCH N ]HQDL
CL Z[W L[ P VL[ IT CL H ]HDH]N
Z
FY VF t PLJDI
IU RLKE
DO K RLHFZ
GF HN P L[ UUH@ COC GF[DH DUD UUH COC CD[ [QC IN P CD[ GLDL]LC GF L QD TH]
HCLF H]KLQ CD[ HD [IJ GC[S GD[ GLEG RDQ[U UOT GC[ CD[ [QC P H]T[LE MQGQ RNH [HQLC GFH CSKLZS
H]C[HGQ HD [IJ CD[ CDKL[D CDHQG PLQNJ ]YZQ LW LWO KQ P CD[ L[DF PL[W]Q RNH >]UFQ CO
RNSLQ L]ND GNH CDKL[H J[ C[ VL[U PLSHC[GQ GQN ]T[EO DT P RNH U
GSZ INZ DD
DU PH J ]HNQ
GT JS IU
PLQUW O RCNH EU DQ HK PLJDI
IY DL ]HJSQ
D[ GF KQ RLOHJ TH] U IU P QNH HYGY RLOHJ UH
FS ]H[HND
I ]H]L[N
JT GFS
HCHDL FU HGHU[ZL CO CN[LW HD HCYQLH HO RLF ZTW PGLSWO CHDL PC OZ DDD HLFLQO]O CD[ [QC RNH
HGHU[ZL CO H]HQ [JCO VCH HD [HIJL PUK HD CYQL CO PCH HLSWO
H]C[HG OU HDLG HLGH GUQO GNOG G[HQ GLG C D [ C[QED PLQUW GQN HSLYQ FHU
RNO PFHZQ LHOE GLG CO GUQ H]HCD PLHTQ K[W [[DHG VHTDO MC GUK GC[S VLTNC H
CD[ FHUH ZLFY L[W JHOLG LQ PL[WTD CDHQH G]LQCO ]QCG OC GUOZ H]C[HG [[DHGH
LWO CZHF HCO H]LQCO CHG LWN RLFG JL[GO ]OHNLGH GSHN]G HD G]LGH GFHGL KDQ CD
CW QDD CDHQD GI OND U@ OONG RQ GCYLH GC[HGG GE[J PLQUW RNOH ONO PLOESG PLOONG
]H[IJG [W HGI RN PC [WC > IT ]HDH]ND LSU H]HC PU CD[F GUQQ VLTHGO LH EOZ DDDH
CD[ OYC FHJLD HSLYQ GNOGO ]HC[HGD ]HD[G
RLDH[LU RQJS D[ RNH COZ DD IL H QD J RLKE EO ]HDH]N DY ]D LLDC OYC ]H[IJ [WTQ HSLYQ RN
ET ]D LQLF D[ EL G[ GD[ EL G[ GLQ[L [ CT RL[FGST KO RLHFZ VTHL D[ EN RLKE IK
HS RLOHJ CLUHC D[ ISZ DD LC D[ HS RLOHJ L[LUI
GY VF
PGL[DF HFLQUG PLQNJ HSLYQ LW OU VCH HTLSNGO []HQ [HGK G[H]GQ RHLNH CHG RSD[FQ
HLOU PL[LDUQ RLC GSG C[ O [WH MNO RSD[F [HTLC OU [HDUO G[L]Q GSLC C]L[HCF GHYQH
PLHTQG FEDG OU GOJ HTLSNGO GHYQG RCN ZOJO L DO G[ U OEG ]C HLOU RLJZWQ RLCH PHJ]G ]C
GLG HOLCH PLHTQ [WHO ]NLL GHYQG RLC COG P ODC GHYQG RQ GQYU GTSNGG HOLCNH HSLSWO
JHC [IS LSDC LWU GHYQG RQ OEG JHZLW RLC RN OU OEG ]C JZWO ML[Y GLG CO [JC [WH RCN
GOZ]
PGL[DF HFLQUG ]HQHZQ GQND LWUC [DFD FLJC OON RLC GC[S C]L[HCF GHYQ PHZQD RSD[F [HTLC ]FQUG ]HFHC
CZ