đđđȩ÷ñôÑãÎÍôÄÄȩñÝ
BÑÄôđ÷Ė° ÷â°ôü
üô°âñçÝÑã° ã° øđÑļÑÄȦ
Hâ°ôü üô°âñçÝÑã° ɓ đ÷ñ°ãÑ°á° Ė°»°đ° Ñ Îđ°ô°ãüçđ°ãÄ »ÄĖñÑļĖÄä÷üđçȮ
4çđ°üçô÷ÜÑÄ ôçĖđÑ·Ė°ãÑ° Ñ »ÄĖñÑļĖãÄ ÷Ü°Ü°ãÑÄȮ
]°âÑ°÷ü ÷ñôÌęēã ñôÌüē Ė đáèÜã° ÷ĖÜÝ°ãÄÎç þâÑÄ÷Ė¼ĖçãÄ ÷· ñçÀ â°ü· Ñ ã°À
ô°â·Ȥ ñçĖ° Ė°÷ÑÌÎÑÄâ ÷Ü°¼Ė·¼ÄÛ ç÷ç»ēȩ E°â° ñôĖÄãÑÄ÷Ñçã° đ ü°ÜÑÄ âÑÄÛ÷¼ÄȤ
»ē ãÑÄ »ēá âçĖÝÑđē Üçãü°Üü Ė ãÑ· ñçÀ¼Ė°÷ ÷Ü°Ü°ãÑ°ȩ 3ÑÌÜÜ° Üô°đÌÀė â°üē
°»÷çô»þÛ·¼° ÄãÄôÎÑÌ Ñ °âçôüēĖþÛ·¼° þÀÄôĖÄãÑ°ȩ BçüđÑÄôÀĖçãçȤ ęÄ ÛÄ÷ü °ę Ʒƴ
ÜôçüãÑÄ ÷ÜþüļĖãÑÄÛ÷Ė° đ á°ÎçÀĖÄãÑþ þÀÄôĖÄãÑ°ȩ BçüđÑÄôÀĖçãçȤ ęÄ ÛÄ÷ü °ę Ʒƴ
ÜôçüãÑÄ ÷ÜþüļĖãÑÄÛ÷Ė° đ á°ÎçÀĖÄãÑþ þÀÄôĖÄä ãÑę Üô°đÌÀė â°üē üô°Àē¼ēÛãÄÛȩ
Ý°÷üē¼Ėã° ÷Ñ°üÜ° çü°¼Ė°Û·¼° üô°âñçÝÑãÌ çÀ»ÑÛ°Û·¼° ÷Üç¼ĖÜ° Ė ñçđôçüÄâ ã°
â
â°°üÌ Ñ Ė°ñç»ÑÄΰ۷¼° þñ°ÀÜÑÄâ Ė üô°âñçÝÑãēȩ ]°âÑ°÷ü âÄü°Ýçđē¼Ð ÷áþñÜèđ
ñçÀüôĖēâþÛ·¼ē¼Ð ÷Ñ°üÜÌ Ė°÷üç÷çđ°ãç ÄÝ°÷üē¼ĖãÄ ñôÌüēȩ
HñôÑãÎÍôÄÄ ɓ B°ĐÄÝ Eþ÷ãçÜ ĖÑ°á ÷ñôĖÄÀ°ęēȨ
ç»ôļܰ ƶƻȤ ƸƷɎƸƴƴ ÑÄ÷ĖēãȤ ÑãÍçˀ÷ñôÑãÎÍôÄÄȩñÝ LÄÝȩȣ ʖƸƼ ƺƴƴ ƽƶƵ ƽƼƴȤ ÑãÍçˀ÷ñôÑãÎÍôÄÄȩñÝ đđđȮ÷ñôÑãÎÍôÄÄȮñÝ
đđđȩ÷ñôÑãÎÍôÄÄȩñÝ
BÑÄôđ÷Ė° ÷â°ôü
üô°âñçÝÑã° ã° øđÑļÑÄȦ
Hâ°ôü üô°âñçÝÑã° ɓ đ÷ñ°ãÑ°á° Ė°»°đ° Ñ Îđ°ô°ãüçđ°ãÄ »ÄĖñÑļĖÄä÷üđçȮ
4çđ°üçô÷ÜÑÄ ôçĖđÑ·Ė°ãÑ° Ñ »ÄĖñÑļĖãÄ ÷Ü°Ü°ãÑÄȮ
]°âÑ°÷ü ÷ñôÌęēã ñôÌüē Ė đáèÜã° ÷ĖÜÝ°ãÄÎç þâÑÄ÷Ė¼ĖçãÄ ÷· ñçÀ â°ü· Ñ ã°À
ô°â·Ȥ ñçĖ° Ė°÷ÑÌÎÑÄâ ÷Ü°¼Ė·¼ÄÛ ç÷ç»ēȩ E°â° ñôĖÄãÑÄ÷Ñçã° đ ü°ÜÑÄ âÑÄÛ÷¼ÄȤ
»ē ãÑÄ »ēá âçĖÝÑđē Üçãü°Üü Ė ãÑ· ñçÀ¼Ė°÷ ÷Ü°Ü°ãÑ°ȩ 3ÑÌÜÜ° Üô°đÌÀė â°üē
°»÷çô»þÛ·¼° ÄãÄôÎÑÌ Ñ °âçôüēĖþÛ·¼° þÀÄôĖÄãÑ°ȩ BçüđÑÄôÀĖçãçȤ ęÄ ÛÄ÷ü °ę Ʒƴ
ÜôçüãÑÄ ÷ÜþüļĖãÑÄÛ÷Ė° đ á°ÎçÀĖÄãÑþ þÀÄôĖÄãÑ°ȩ BçüđÑÄôÀĖçãçȤ ęÄ ÛÄ÷ü °ę Ʒƴ
ÜôçüãÑÄ ÷ÜþüļĖãÑÄÛ÷Ė° đ á°ÎçÀĖÄãÑþ þÀÄôĖÄä ãÑę Üô°đÌÀė â°üē üô°Àē¼ēÛãÄÛȩ
Ý°÷üē¼Ėã° ÷Ñ°üÜ° çü°¼Ė°Û·¼° üô°âñçÝÑãÌ çÀ»ÑÛ°Û·¼° ÷Üç¼ĖÜ° Ė ñçđôçüÄâ ã°
â°°üÌ Ñ Ė°ñç»ÑÄΰ۷¼° þñ°ÀÜÑÄâ Ė üô°âñçÝÑãēȩ ]°âÑ°÷ü âÄü°Ýçđē¼Ð ÷áþñÜèđ
â
ñçÀüôĖēâþÛ·¼ē¼Ð ÷Ñ°üÜÌ Ė°÷üç÷çđ°ãç ÄÝ°÷üē¼ĖãÄ ñôÌüēȩ
HñôÑãÎÍôÄÄ ɓ B°ĐÄÝ Eþ÷ãçÜ ĖÑ°á ÷ñôĖÄÀ°ęēȨ
ç»ôļܰ ƶƻȤ ƸƷɎƸƴƴ ÑÄ÷ĖēãȤ ÑãÍçˀ÷ñôÑãÎÍôÄÄȩñÝ LÄÝȩȣ ʖƸƼ ƺƴƴ ƽƶƵ ƽƼƴȤ ÑãÍçˀ÷ñôÑãÎÍôÄÄȩñÝ đđđȮ÷ñôÑãÎÍôÄÄȮñÝ
3LQN 5DEELW Z VZRMHM RIHUFLH SRVLDGD Z\MÃWNRZH L EDMNRZH QDPLRW\ WLSL GOD G]LHFL 3URGXNW\ QDV]HM ĆUP\ WR SU]HGH
ZV]\VWNLP Z\VRND MDNRÐÅ Z\UREX RUD] EH]SLHF]HÌVWZR 7ZRU]\P\ QDV]H QDPLRW\ ] PDWHULDʵZ L VXURZFµZ
SU]\MD]Q\FK ÐURGRZLVNX
=DG]ZRÌ GR QDV
3,1. 5$%%,7 '/$ '=,(&, XO 6LNRUVNLHJR &]ÇVWRFKRZD
ZZZ SLQNUDEELW SO VNOHS#SLQNUDEELW SO
3LQN 5DEELW Z VZRMHM RIHUFLH SRVLDGD Z\MÃWNRZH L EDMNRZH QDPLRW\ WLSL GOD G]LHFL 3URGXNW\ QDV]HM ĆUP\ WR SU]HGH
ZV]\VWNLP Z\VRND MDNRÐÅ Z\UREX RUD] EH]SLHF]HÌVWZR 7ZRU]\P\ QDV]H QDPLRW\ ] PDWHULDʵZ L VXURZFµZ
SU]\MD]Q\FK ÐURGRZLVNX
=DG]ZRÌ GR QDV
3,1. 5$%%,7 '/$ '=,(&, XO 6LNRUVNLHJR &]ÇVWRFKRZD
ZZZ SLQNUDEELW SO VNOHS#SLQNUDEELW SO
äǫ
ä
Ă
ǡ
¸
¦
ĂǤ
ǡ Ă
Ï Ï
ǡ ÏÑ
ÏÏ Ǥ
©
¸ä
ǡ ¸ǡ ä©Ǥ Ă
Ï© ǡ
Ï ä
Ǥ
äǫ
Ï
ǡ ĂǤ ¦ ¦ǡ
Ǥ Ï Ǥ
¦
¸
ǡ
Ïǡ ×
ä
Ǥ
¦Ǥ
Ï Ǥ
äǫ
ä
Ă
ǡ
¸
¦
ĂǤ
ǡ Ă
Ï Ï
ǡ ÏÑ
ÏÏ Ǥ
©
¸ä
ǡ ¸ǡ ä©Ǥ Ă
Ï© ǡ
Ï ä
Ǥ
äǫ
Ï
ǡ ĂǤ ¦ ¦ǡ
Ǥ Ï Ǥ
¦
¸
ǡ
Ïǡ ×
ä
Ǥ
¦Ǥ
Ï Ǥ
ǫ
¦
Ă Ï
¦ Ă ×
Ǥ ¦
Ï ä©ǡ ä©
Ă Ï
×Ï× Ñ
ÑǤ
ǡ ¸ Ǥ äǡ äǡ × Ă Ă
ǡ ä ĂǤ
ǡ äǡ äǤ
ǡ äǡ äǤ
ǡ Ă © ¦Ă© ǡ Ñ
Ï Ǥ ¦
Ǧ ¦
ǡ ¦ ¦ ä
¦ Ǧ Ă
¦
ǡ ¸
Ñ
¸
Ǥ Ïä
¦
× ×ǡ ä
¸ ä
Ǥ
Ñ Ï
ǣ ή ͜͠ ͘͞͡ ͙͙͡ ͘͜͜
Ñ ȋ Ȍǣ ή ͜͠ ͛͛͟ ͚͘͞ ͜͜͝
Ï Ï
ǣ ǤǦ Ǥ ͠ǣ͘͘ Ǧ ͙͞ǣ͘͘
Ï ǣ ǤȂ Ǥ ͡ǣ͘͘Ǧ ͚͙ǣ͘͘Ǥ ǣ ͙͘ǣ͘͘ Ǧ ͚͘ǣ͘͘
̻Ǥ ȁ ǤǤ
O * ͚͘ά Ǥ Ǥ
ǫ
¦
Ă Ï
¦ Ă ×
Ǥ ¦
Ï ä©ǡ ä©
Ă Ï
×Ï× Ñ
ÑǤ
ǡ ¸ Ǥ äǡ äǡ × Ă Ă
ǡ ä ĂǤ
ǡ äǡ äǤ
ǡ äǡ äǤ
ǡ Ă © ¦Ă© ǡ Ñ
Ï Ǥ ¦
Ǧ ¦
ǡ ¦ ¦ ä
¦ Ǧ Ă
¦
ǡ ¸
Ñ
¸
Ǥ Ïä
¦
× ×ǡ ä
¸ ä
Ǥ
Ñ Ï
ǣ ή ͜͠ ͘͞͡ ͙͙͡ ͘͜͜
Ñ ȋ Ȍǣ ή ͜͠ ͛͛͟ ͚͘͞ ͜͜͝
Ï Ï
ǣ ǤǦ Ǥ ͠ǣ͘͘ Ǧ ͙͞ǣ͘͘
Ï ǣ ǤȂ Ǥ ͡ǣ͘͘Ǧ ͚͙ǣ͘͘Ǥ ǣ ͙͘ǣ͘͘ Ǧ ͚͘ǣ͘͘
̻Ǥ ȁ ǤǤ
O * ͚͘ά Ǥ Ǥ
.IWXIQ TMVEVIQ KVE QIQS
4S^REN H^MOʈ TV^]VSHʚ 0SRHNM QVɹ[OSNEH] VIOMR] QET]
[MIPSV]F] M MRRI
TMʚORMI MPYWXVS[ERI OEVX] +VE TEQMʚGMS[E HPE H^MIGM
M HSVSW]GL >[]GMʚ^Gʈ ^SWXENI KVEG^ OXɹV] ^RENH^MI
RENFEVH^MIN TEWYNʈGI TEV]
'IRE ^
0.0 /ɸOS M /V^]˴]O
; XIN RS[IN KV^I [ OɹOS M OV^]˵]O WXEVEN WMʚ NEO RENW^]FGMIN
YQMI˒GMʊ [ NIHRIN PMRMM X[SNI TMSROM RE W^EGLS[RMG]
4MIV[W^] KVEG^ OXɹVIQY WMʚ XS YHE SXV^]QYNI TGLIOʚ ũ
TYROX 9[EKE [W^]WXOS ^EPI˵] SH XEOX]OM 4EVXMʚ []KV][E
KVEG^ OXɹV] TSWMEHE REN[MʚOW^ʈ MPS˒ʊ TGLIIO ũ TYROXɹ[
'IRE ^
/E˴H] VSH^MG QEV^] EF] NIKS H^MIGOS F]S ^HVS[I W^G^ʙˑPM[I M QʇHVI RMI
TV^IW^OEH^E NIˑPM HS XIKS [W^]WXOMIKS QE HSFV] KYWX
1IQS HSX]OS[I [ [SVIG^OY
9TSHSFERME M TSG^YGMI IWXIX]OM QS˴IQ] OW^XEXS[Eʉ SH QEIKS RMI FI^
^REG^IRME Wʇ [MʙG V^IG^] OXɸVI []FMIVEW^ HPE W[SNIN TSGMIGL] 2MI^[]O] [EVMERX KV] X]TY QIQS TSPIKENʈG] RE
^RENH][ERMY TEV ^E TSQSGʈ HSX]OY ;EPGS[EXI OPSGOM
;W^]WXOMI V^IG^] OXɹVI ^RENH^MIW^ [ REW^]Q WOPITMI []FMIVEPM˒Q] ^I W^G^IKɹPRʈ WXEVERRS˒GMʈ QENʈ Vɹ˵Rʈ TS[MIV^GLRMʚ OXɹVʈ REPI˵] VS^TS^REʊ TEPGEQM
XEO F] WTIRME] REN[E˵RMINW^I OV]XIVME &]] GMIOE[I M [W^IGLWXVSRRMI VS^[MNE] YQMINʚXRS˒GM +VE ^REOSQMGMI VS^[MNE ^Q]W HSX]OY
8[SNIKS H^MIGOE F]] WXEVERRMI []OSRERI ^ HSFV]GL QEXIVMEɹ[ F] MGL HIWMKR F] TV^]NIQR] HPE 'IRE ^
SOE QEPYGLɹ[ M GS REN[E˵RMINW^I F] G^EW WTʚH^SR] [ MGL XS[EV^]WX[MI F] []NʈXOS[]
>ETVEW^EQ]
+VE []ˑGMK 6ETMHMTPI\ G]VO .ERSH
+VE OEVGMERE ']VOS[] []˒GMK JVERGYWOMIN QEVOM
.%23( XS [WTERMEE ^EFE[E HPE H[ɹGL HS G^XIVIGL
SWɹF ũ ^EVɹ[RS H^MIGM NEO M HSVSW]GL
'IRE ^
1IVGM 1EQE YP 8VEOXSVS[E [IN˒GMI SH YP (YʿWOMIN -- TMʚXVS PSOEP RV Q ɹH˳ XIP [[[ QIVGMQEQE TP
.IWXIQ TMVEVIQ KVE QIQS
4S^REN H^MOʈ TV^]VSHʚ 0SRHNM QVɹ[OSNEH] VIOMR] QET]
[MIPSV]F] M MRRI
TMʚORMI MPYWXVS[ERI OEVX] +VE TEQMʚGMS[E HPE H^MIGM
M HSVSW]GL >[]GMʚ^Gʈ ^SWXENI KVEG^ OXɹV] ^RENH^MI
RENFEVH^MIN TEWYNʈGI TEV]
'IRE ^
0.0 /ɸOS M /V^]˴]O
; XIN RS[IN KV^I [ OɹOS M OV^]˵]O WXEVEN WMʚ NEO RENW^]FGMIN
YQMI˒GMʊ [ NIHRIN PMRMM X[SNI TMSROM RE W^EGLS[RMG]
4MIV[W^] KVEG^ OXɹVIQY WMʚ XS YHE SXV^]QYNI TGLIOʚ ũ
TYROX 9[EKE [W^]WXOS ^EPI˵] SH XEOX]OM 4EVXMʚ []KV][E
KVEG^ OXɹV] TSWMEHE REN[MʚOW^ʈ MPS˒ʊ TGLIIO ũ TYROXɹ[
'IRE ^
/E˴H] VSH^MG QEV^] EF] NIKS H^MIGOS F]S ^HVS[I W^G^ʙˑPM[I M QʇHVI RMI
TV^IW^OEH^E NIˑPM HS XIKS [W^]WXOMIKS QE HSFV] KYWX
1IQS HSX]OS[I [ [SVIG^OY
9TSHSFERME M TSG^YGMI IWXIX]OM QS˴IQ] OW^XEXS[Eʉ SH QEIKS RMI FI^
^REG^IRME Wʇ [MʙG V^IG^] OXɸVI []FMIVEW^ HPE W[SNIN TSGMIGL] 2MI^[]O] [EVMERX KV] X]TY QIQS TSPIKENʈG] RE
^RENH][ERMY TEV ^E TSQSGʈ HSX]OY ;EPGS[EXI OPSGOM
;W^]WXOMI V^IG^] OXɹVI ^RENH^MIW^ [ REW^]Q WOPITMI []FMIVEPM˒Q] ^I W^G^IKɹPRʈ WXEVERRS˒GMʈ QENʈ Vɹ˵Rʈ TS[MIV^GLRMʚ OXɹVʈ REPI˵] VS^TS^REʊ TEPGEQM
XEO F] WTIRME] REN[E˵RMINW^I OV]XIVME &]] GMIOE[I M [W^IGLWXVSRRMI VS^[MNE] YQMINʚXRS˒GM +VE ^REOSQMGMI VS^[MNE ^Q]W HSX]OY
8[SNIKS H^MIGOE F]] WXEVERRMI []OSRERI ^ HSFV]GL QEXIVMEɹ[ F] MGL HIWMKR F] TV^]NIQR] HPE 'IRE ^
SOE QEPYGLɹ[ M GS REN[E˵RMINW^I F] G^EW WTʚH^SR] [ MGL XS[EV^]WX[MI F] []NʈXOS[]
>ETVEW^EQ]
+VE []ˑGMK 6ETMHMTPI\ G]VO .ERSH
+VE OEVGMERE ']VOS[] []˒GMK JVERGYWOMIN QEVOM
.%23( XS [WTERMEE ^EFE[E HPE H[ɹGL HS G^XIVIGL
SWɹF ũ ^EVɹ[RS H^MIGM NEO M HSVSW]GL
'IRE ^
1IVGM 1EQE YP 8VEOXSVS[E [IN˒GMI SH YP (YʿWOMIN -- TMʚXVS PSOEP RV Q ɹH˳ XIP [[[ QIVGMQEQE TP
+VE XS[EV^]WOE GLMʾG^]O +VE (SQMRS 'MVGYW
.EO WMʚ KVE [ GLMʿG^]OE [ ^EWEH^MI OE˵H] GL]FE [MI
4MʚORE KVEJMOE WTVE[ME ˵I NIW^G^I QMPIN WTʚH^E WMʚ VE^IQ ; RMI^[]O]Q G]VOY 0SRHNM VS^FE[Mʈ 'Mʚ HS[GMT] OPEYRE
G^EW +VE YG^] GMIVTPM[S˒GM []XV[ES˒GM V][EPM^EGNM %YKYWXE ^SFEG^]W^ []NʈXOS[IKS WMEG^E M EOVSFEXOM [
Hʈ˵IRME HS []^REG^SRIKS GIPY E XEO˵I TSOE^YNI NEO WMʚ RMIWEQS[MX]GL RYQIVEGL [WTERMEI P[] SVE^
[]KV][E FʈH˳ TV^IKV][E REN[MIOW^IKS RE ˒[MIGMI WSRMEŷ
'IRE ^ 'IRE ^
+VE QEKRIX]G^RE (SQMRS +V] IHYOEG]NRI &MRKM QIQS (SQMRS 1EPM TV^]NEGMIPI
/PEW]G^RE KVE (SQMRS 'ES˒ʊ ^EQORMʚXE NIWX [ QIXEPS[I
TYHIOS (^MʚOM XIQY ˵I TSW^G^IKɹPRI IPIQIRX] KV] Wʈ +V] (SQMRS &MRKS M 1IQS [ NIHR]Q TYHIOY NIHR]Q
QEKRIWEQM KVEʊ QS˵IQ] [ OE˵H]Q QMINWGY )PIQIRX] WS[IQ TIRME W^G^ʚ˒GME
KV] RMI ^KYFMʈ REQ WMʚ E HSHEXOS[S HS KVERME QS˵IQ] &E[GMI WMʚ M KVENGMI ^ W]QTEX]G^R]QM ^[MIV^EOEQM
TS[VɹGMʊ [ OE˵H]Q QSQIRGMI
'IRE ^ 'IRE ^
+VE OEVGMERE >HVS[I SH˴][MERMI ^VʙG^RSˑGMS[E KVE &EHEFSYQ
4-' %77-)88) NIWX XS KVE OEVGMERE XVEOXYNʈGE S SH˵][ERMY VʚG^RS˒GM KVE FEHEFSYQ WOEHE WMʚ ^ QE]GL OYFOɹ[
^ TVSWX]Q TV^IWERMIQ QS˵RE NI˒ʊ [W^]WXOS EPI [ FEVH^S EX[]GL [ QSRXE˵Y M QEIN OSPSVS[IN OYPOM
WTSWɹF ^Vɹ[RS[E˵SR] 'IPIQ NIWX NEO RENW^]FW^I (^MIGM FʚHʈ ^EGL[]GSRI RENTMIV[ FYHYNʈG [MI˵ʚ E TEXIQ
WOSQTSRS[ERMI W[SNIKS QIRY TV^]WXE[OM HERME TVɹFYNʈG WXVʈGMʊ [W^]WXOS ^E TSQSGʈ QEIN OYPM
Kɹ[RIKS HIWIVY M W^OPEROM [SH]
'IRE ^ 'IRE ^
4SHSKS[E KVE ;]ˑGMK ːPMQEOM .ERSH
+VE QEKRIX]G^RE (SQ
+VE TSHSKS[E ;]˒GMK JVERGYWOMIN QEVOM .ERSH XS
1EKRIX]G^RE KVE (SQ XS JERXEWX]G^RE ^EFE[E MRRE [WTERMEE ^EFE[E HPE H^MIGM WOEHENʈGE WMʚ ^ TPERW^]
^E OE˵H]Q VE^IQ (^MʚOM WTIGNEPRIN TPERW^] M E˵ ^ TY^^PM S []QMEVEGL \ GQ HVI[RMER]GL
QEKRIWSQ QS˵IGMI STS[MEHEʊ [GMʈ˵ RS[I LMWXSVMI TMSROɹ[ SVE^ H[ɹGL OSWXIO +VE TSPIKE RE HSXEVGMY
HS OSʿGE TPERW^] G^]PM HS TSPE S^REG^SRIKS
'IRE ^
'IRE ^
1IVGM 1EQE YP 8VEOXSVS[E [IN˒GMI SH YP (YʿWOMIN -- TMʚXVS PSOEP RV Q ɹH˳ XIP [[[ QIVGMQEQE TP
+VE XS[EV^]WOE GLMʾG^]O +VE (SQMRS 'MVGYW
.EO WMʚ KVE [ GLMʿG^]OE [ ^EWEH^MI OE˵H] GL]FE [MI
4MʚORE KVEJMOE WTVE[ME ˵I NIW^G^I QMPIN WTʚH^E WMʚ VE^IQ ; RMI^[]O]Q G]VOY 0SRHNM VS^FE[Mʈ 'Mʚ HS[GMT] OPEYRE
G^EW +VE YG^] GMIVTPM[S˒GM []XV[ES˒GM V][EPM^EGNM %YKYWXE ^SFEG^]W^ []NʈXOS[IKS WMEG^E M EOVSFEXOM [
Hʈ˵IRME HS []^REG^SRIKS GIPY E XEO˵I TSOE^YNI NEO WMʚ RMIWEQS[MX]GL RYQIVEGL [WTERMEI P[] SVE^
[]KV][E FʈH˳ TV^IKV][E REN[MIOW^IKS RE ˒[MIGMI WSRMEŷ
'IRE ^ 'IRE ^
+VE QEKRIX]G^RE (SQMRS +V] IHYOEG]NRI &MRKM QIQS (SQMRS 1EPM TV^]NEGMIPI
/PEW]G^RE KVE (SQMRS 'ES˒ʊ ^EQORMʚXE NIWX [ QIXEPS[I
TYHIOS (^MʚOM XIQY ˵I TSW^G^IKɹPRI IPIQIRX] KV] Wʈ +V] (SQMRS &MRKS M 1IQS [ NIHR]Q TYHIOY NIHR]Q
QEKRIWEQM KVEʊ QS˵IQ] [ OE˵H]Q QMINWGY )PIQIRX] WS[IQ TIRME W^G^ʚ˒GME
KV] RMI ^KYFMʈ REQ WMʚ E HSHEXOS[S HS KVERME QS˵IQ] &E[GMI WMʚ M KVENGMI ^ W]QTEX]G^R]QM ^[MIV^EOEQM
TS[VɹGMʊ [ OE˵H]Q QSQIRGMI
'IRE ^ 'IRE ^
+VE OEVGMERE >HVS[I SH˴][MERMI ^VʙG^RSˑGMS[E KVE &EHEFSYQ
4-' %77-)88) NIWX XS KVE OEVGMERE XVEOXYNʈGE S SH˵][ERMY VʚG^RS˒GM KVE FEHEFSYQ WOEHE WMʚ ^ QE]GL OYFOɹ[
^ TVSWX]Q TV^IWERMIQ QS˵RE NI˒ʊ [W^]WXOS EPI [ FEVH^S EX[]GL [ QSRXE˵Y M QEIN OSPSVS[IN OYPOM
WTSWɹF ^Vɹ[RS[E˵SR] 'IPIQ NIWX NEO RENW^]FW^I (^MIGM FʚHʈ ^EGL[]GSRI RENTMIV[ FYHYNʈG [MI˵ʚ E TEXIQ
WOSQTSRS[ERMI W[SNIKS QIRY TV^]WXE[OM HERME TVɹFYNʈG WXVʈGMʊ [W^]WXOS ^E TSQSGʈ QEIN OYPM
Kɹ[RIKS HIWIVY M W^OPEROM [SH]
'IRE ^ 'IRE ^
4SHSKS[E KVE ;]ˑGMK ːPMQEOM .ERSH
+VE QEKRIX]G^RE (SQ
+VE TSHSKS[E ;]˒GMK JVERGYWOMIN QEVOM .ERSH XS
1EKRIX]G^RE KVE (SQ XS JERXEWX]G^RE ^EFE[E MRRE [WTERMEE ^EFE[E HPE H^MIGM WOEHENʈGE WMʚ ^ TPERW^]
^E OE˵H]Q VE^IQ (^MʚOM WTIGNEPRIN TPERW^] M E˵ ^ TY^^PM S []QMEVEGL \ GQ HVI[RMER]GL
QEKRIWSQ QS˵IGMI STS[MEHEʊ [GMʈ˵ RS[I LMWXSVMI TMSROɹ[ SVE^ H[ɹGL OSWXIO +VE TSPIKE RE HSXEVGMY
HS OSʿGE TPERW^] G^]PM HS TSPE S^REG^SRIKS
'IRE ^
'IRE ^
1IVGM 1EQE YP 8VEOXSVS[E [IN˒GMI SH YP (YʿWOMIN -- TMʚXVS PSOEP RV Q ɹH˳ XIP [[[ QIVGMQEQE TP
1$6=( 35(0,(5<
,JQDÐ .LWHN DUFKLWHNW
$QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
3U]H]DEDZQD L QLHSRNRUQD NVLÃ×ND
9Ü«Ă¹« ôØãÊĎ«Êô ¼«ãØ¹Ê R UHDOL]RZDQLX VZRLFK SDVML ZEUHZ
SU]HFLZQRÐFLRP
« Õ« ¹Ã« «¼èÜãØÊôà =É
5µ]LD 5HZHOND LQ×\QLHUND
1DV]H Z\GDZQLFWZR VSHFMDOL]XMH VLÇ Z VWDUDQQ\P GRERU]H RIHUW\ L SURSRQXMH $QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
URG]LFRP L G]LHFLRP Z\VRNLHM MDNRÐFL NVLÃ×NL ]DUµZQR ZDUWRÐFLRZH OLWHUDFNR =DEDZQD L PÃGUD RSRZLHÐÅ R
MDN L SLÇNQLH LOXVWURZDQH 7R ìSLFWXUHERRNVë å NVLÃ×NL Z NWµU\FK WHNVW L REUD] UHDOL]RZDQLX SDVML L QLH]UD×DQLX
ZVSµÊJUDMà ]H VREà WZRU]ÃF XQLNDOQà MDNRÐÅ NWµUHM QLH GDÊRE\ VLÇ RVLÃJQÃÅ EH] VLÇ QLHSRZRG]HQLDPL
KDUPRQLL PLÇG]\ QLPL 6Ã WR SXEOLNDFMH GOD Z\PDJDMÃF\FK å SRXF]DMÃFD
L MHGQRF]HÐQLH HNVF\WXMÃFD OLWHUDWXUD G]LHFLÇFD =É
7HN 1RZRF]HVQ\ MDVNLQLRZLHF
3DWULFN 0F'RQQHOO
=DEDZQ\ VSRVµE PµZLHQLD R ]QDF]HQLX Z\ÊÃF]HQLD
RWDF]DMÃF\FK QDV XU]ÃG]HÌ L FLHV]HQLD VLÇ XURNDPL
SLÇNQHJR ÐZLDWD GRRNRÊD
=É
$GD %DPELQL 1DXNRZF]\QL
$QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
=$32:,('Ô
#.LQGHUNXOND
:6=<67.,( .6,ÂÖ., '267Æ31( 1$ ::: .,1'(5.8/.$ 3/
1$6=( 35(0,(5<
,JQDÐ .LWHN DUFKLWHNW
$QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
3U]H]DEDZQD L QLHSRNRUQD NVLÃ×ND
9Ü«Ă¹« ôØãÊĎ«Êô ¼«ãØ¹Ê R UHDOL]RZDQLX VZRLFK SDVML ZEUHZ
SU]HFLZQRÐFLRP
« Õ« ¹Ã« «¼èÜãØÊôà =É
5µ]LD 5HZHOND LQ×\QLHUND
1DV]H Z\GDZQLFWZR VSHFMDOL]XMH VLÇ Z VWDUDQQ\P GRERU]H RIHUW\ L SURSRQXMH $QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
URG]LFRP L G]LHFLRP Z\VRNLHM MDNRÐFL NVLÃ×NL ]DUµZQR ZDUWRÐFLRZH OLWHUDFNR =DEDZQD L PÃGUD RSRZLHÐÅ R
MDN L SLÇNQLH LOXVWURZDQH 7R ìSLFWXUHERRNVë å NVLÃ×NL Z NWµU\FK WHNVW L REUD] UHDOL]RZDQLX SDVML L QLH]UD×DQLX
ZVSµÊJUDMà ]H VREà WZRU]ÃF XQLNDOQà MDNRÐÅ NWµUHM QLH GDÊRE\ VLÇ RVLÃJQÃÅ EH] VLÇ QLHSRZRG]HQLDPL
KDUPRQLL PLÇG]\ QLPL 6Ã WR SXEOLNDFMH GOD Z\PDJDMÃF\FK å SRXF]DMÃFD
L MHGQRF]HÐQLH HNVF\WXMÃFD OLWHUDWXUD G]LHFLÇFD =É
7HN 1RZRF]HVQ\ MDVNLQLRZLHF
3DWULFN 0F'RQQHOO
=DEDZQ\ VSRVµE PµZLHQLD R ]QDF]HQLX Z\ÊÃF]HQLD
RWDF]DMÃF\FK QDV XU]ÃG]HÌ L FLHV]HQLD VLÇ XURNDPL
SLÇNQHJR ÐZLDWD GRRNRÊD
=É
$GD %DPELQL 1DXNRZF]\QL
$QGUHD %HDW\ LOXVWUDWRU 'DYLG 5REHUWV
=$32:,('Ô
#.LQGHUNXOND
:6=<67.,( .6,ÂÖ., '267Æ31( 1$ ::: .,1'(5.8/.$ 3/
=GURZH VWRS\ 'R SURGXNFML REXZLD 0HPR VWRVR
ZDQH VĈ QDMZ\İV]HM MDNRĤFL PDWHULDã\ :LHU
G]LHFND ]FKQLD L ZHZQčWU]QD F]čĤþ EXWD Z\NRQDQD
MHVW ] QDWXUDOQ\FK PLčNNLFK VNyU NR]LFK
LGHDOQ\FK GOD VWRS\ G]LHFND 6NyU\ WH Z
VSRVyE QDWXUDOQ\ GRVWRVRZXMĈ VLč GR
0HPR WR QDMZ\İV]HM MDNRĤFL REXZLH GOD
G]LHFL Z\NRQDQH Z NODV\F]Q\P VW\OX ] VWRS\ W\P VDP\P ]ZLčNV]DMĈ NRPIRUW Xİ\W
QDWXUDOQ\FK PDWHULDãyZ SU]\MD]Q\FK VWRSLH NRZDQLD 1LHNWyUH PRGHOH Z\SRVDİRQH
G]LHFND 8QLNDWRZĈ IXQNFMč GLDJQRVW\F]QĈ ]RVWDã\ Z VSHFMDOLVW\F]QĈ SRGV]HZNč
]DSHZQLD V\VWHP PRQLWRULQJX Z SRGHV]ZLH EH]FKURPRZĈ 1DWXUDOQH PDWHULDã\ R
0HPR :\SUDFRZDQD SU]H] ODWD NRQVWUXN ZãDĤFLZRĤFLDFK KLJURVNRSLMQ\FK VSUDZLDMĈ
FMD L WHFKQRORJLD PRQWDİX EXWyZ 0HPR İH EXW RGG\FKD D VWRSD QLH XOHJD
] ]DSRFHQLX
]\VNDãD\VNDãD X]QDQLH VSHFMDOLVWyZ MDNR
VNXWHF]QD PHWRGD SURILODNW\NL L OHF]HQLD
QDMF]čVWV]\FK ZDG SRVWDZ\
8QLNDWRZ\ V\VWHP G\QDPLF]QHM NRQWUROL
VWyS G]LHFND GDMĈF\ PRİOLZRĤþ ELHİĈFHJR
PRQLWRURZDQLD VWDQX VWyS RUD] QDW\FKPLD
VWRZHM UHDNFML 6SHFMDOQ\ RGVWDZLRQ\ NV]
WDãW SRGHV]Z\ GRGDWNRZR VWDELOL]XMH VWRSč
L ]DSHZQLD SUDZLGãRZH MHM XãRİHQLH SRG 6SHFMDOQD WHFKQRORJLD PRQWDİX
F]DV FKRGX 'LDJQRVW\F]QD SRGHV]ZD 9 WHFK SROHJDMĈFD QD SUDZLGãRZ\P XVW
0HPR 2EV]DUHP GLDJQRVW\F]Q\P REXZLD DZLHQLX FKROHZNL SRGF]DV SURFHVX PRQ
0HPR MHVW MHJR SRGHV]ZD 1D MHM SRZLHU WRZDQLD EXWD 7HFKQRORJLD WD JZDUDQWXMH
]FKQL RUD] QD REFDVLH ]RVWDãR Z\RGUčEQL ]DFKRZDQLH RVL V\PHWULL Z Z\SURGXNRZ
RQ\FK V]HĤþ SRQXPHURZDQ\FK VWUHI ] Z\ DQ\P EXFLH D W\P VDP\P ZUD] ] FKDUDNW
SXNã\PL SDVNDPL ELHİQLND VWUHID QRUP\ HU\VW\F]Q\P V]W\ZQ\P ]DSLčWNLHP L Z\VRNĈ
VWUHID U\]\ND RUD] F]WHU\ VWUHI\ GXİHM G\V FKROHZNĈ ZVSRPDJD SUDZLGãRZ\ UR]ZyM
IXQNFML 3RGF]DV Xİ\WNRZDQLD SDVNL XOHJDMĈ VWyS 2EXZLH 0HPR SR]EDZLRQH MHVW FHFK
ĤFLHUDQLX G]LčNL F]HPX VWDUWH IUDJPHQW\ NRQVWUXNF\MQ\FK PRJĈF\FK ]DNãyFLþ
XPRİOLZLDMĈ V]\ENĈ L SUHF\]\MQĈ GLDJQR]č REUD] U]HF]\ZLVWHM IL]MRORJLL L SRWU]HE VWyS Z
ZDG VWyS RUD] HZHQWXDOQH GREUDQLH RNUHVLH Z]UDVWDQLD ']LčNL WHPX REXZLH
ZNãDGHN : SU]\SDGNX EUDNX NRQLHF]QRĤFL 0HPR XMDZQLD LFK SUDZLGãRZRĤþ PRUIR
VWRVRZDQLD ZNãDGHN NRU\JXMĈF\FK EXW\ ORJLF]QRF]\QQRĤFLRZĈ OXE LVWQLHMĈFH
0HPR VSHãQLDMĈ IXQNFMč SURILODNW\F]QĈ ZDG\ EĈGĮ LFK V\PSWRP\
=HVWDZ ZNãDGHN ZFKRG]ĈF\FK Z VNãDG
V\VWHPX\VWHPX 0HPR ZUD] ] ZEXGRZDQ\P Z
V 3URGXNW X]\VNDã SR]\W\ZQĈ RSLQLč
SRGHV]ZLH REFDVHP 7KRPDV·D QDGDMH Å&HQWUXP =GURZLD ']LHFNDµ
EXWRP 0HPR FKDUDNWHU REXZLD NRUHNF\M
QHJR 2GSRZLHGQLD GOD G]LHFND ZNãDGND
PRİH E\þ GREUDQD EH]SRĤUHGQLR SU]H]
URG]LFD QD SRGVWDZLH ]DãĈF]RQHM LQVWUXNFML
Xİ\WNRZDQLD 6\VWHPX 0HPR OXE ZJ ZVND
]Dę VSHFMDOLVW\
ZZZ ]GURZHEXFLNL SO