The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Home Explore cat joyas 447
View in Fullscreen

cat joyas 447

Like this book? You can publish your book online for free in a few minutes!
Download PDF
Share

Related Publications

Discover the best professional documents and content resources in AnyFlip Document Base.
Search
Published by david, 2020-10-07 06:43:06

cat joyas 447

cat joyas 447

Èn£ $4#<#.'6' 4©)+&1 %10 &'6#..' &' %#$7,¯0 &' %1 骂 5146+,# %10 %#$7,¯0 &' %14#. 51$4' #0%*1
4#. /'&+6'440'1 14.#&1 214 $4+..#06'5 UQDTG WPC CP /#4%1 &' $4+..#06'5 0')415 EQP WP RGUQ VQVCN FG EV
EJC OQPVWTC DGNNCOGPVG EKPEGNCFC GP QTQ TQUC FG M 2GUQ VQVCN CRTQZ /QPVWTC FG QTQ DNCPEQ FG M
FG NQU DTKNNCPVGU EV CRTQZ ->ˆ`>\ £°{Çx å
->ˆ`>\ ΰxnä å șn (#814'%'&14'5 2'0&+'06'5 (.14 &' %14#. 41,1
/'&+6'441 %10 2+56+.15 &' $4+..#06'5 UQDTG WPC OQP
ÈnÓ 2'0&+'06'5 (.14 &' %14#. 41,1 %10 /#4%1 ; VWTC QTQ COCTKNNQ FG M
%'0641 &' $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG ->ˆ`>\ £°n£x å
M (KTOCFQ 'PGOK
->ˆ`>\ £°{Èx å ș™ $'..# 5146+,# (.14 &' %14#. 41,1 /'&+6'440'1
%10 2+56+.15 &' $4+..#06'5 UQDTG WPC OQPVWTC SWG EQODK
ÈnÎ '.')#06' 5146+,# %10 %'0641 &' <#(+415 ; $4+ PC GN QTQ COCTKNNQ [ DNCPEQ FG M
..#06'5 FG ITCP ECNKFCF 1TKIKPCN FKUGÍQ EQP GN HTGPVG GP ICTTCU ->ˆ`>\ £°Èxä å
FG QTQ COCTKNNQ [ OQPVWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU Çää 2'0&+'06'5 &' $4+..#06'5 UQDTG OQPVWTC FG QTQ DNCP
\CHK QU EV CRTQZ EQ FG -
->ˆ`>\ £°{Óx å ->ˆ`>\ £°£™x å

Èn{ %10,7061 &' /'&+# #.+#0<# &' 5'+5 <#(+415 ; 70 Çä£ /'&+# #.+#0<# %10 $4+..#06'5 +06'4%#.#&15 %#
%1.)#06' %+4%7.#4 &'%14#&1 214 $4+..#06'5 ; 70 .+&#& ':64# /QPVWTC GP QTQ DNCPEQ FG M 2KG\C RWP\QPCFC
<#(+41 /QPVWTC FG QTQ DNCPEQ FG M ->ˆ`>\ ÎÈä å
->ˆ`>\ {ää å ÇäÓ /'&+# #.+#0<# &' $4+..#06'5 %#.+&#& ':64# 14+
)+0#. &+5'­1 /QPVWTC GP QTQ DNCPEQ FG M 2KG\C RWP\QPC
Ènx /1&'40# 5146+,# %10 674/#.+0#5 8'4&'5 51$4' FC
70# /10674# %7#,#&# &' $4+..#06'5 $4190 GP QTQ ->ˆ`>\ Ó{ä å
TQUC FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
->ˆ`>\ Ó°ÓÎä å ÇäÎ 2'0&+'06'5 &' %14#. /'&+6'440'1 ; #52# &' $4+
..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M
ÈnÈ '.')#06' %1..#4 &' %14#. 41,1 /'&+6'440'1 ->ˆ`>\ £°xÓx å
%10 $'..1 &'6#..' 415641 &' 5+4'0# 51$4' 70# /10 Çä{ 14+)+0#. $41%*' 5#$+1 &' %14#. /'&+6'440'1
674# 4+<#&# '0 141 #/#4+..1 &' - $'..#/'06' 6#..#&1 &'%14#&1 %10 %7'421 &' $4+
->ˆ`>\ Ó°Îää å ..#06'5 /QPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ Ó°Óxä å
ÈnÇ 2'0&+'06'5 &' $4+..#06'5 %10 2'4+..# &' %14#.
$.#0%1 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M Çäx $41%*' /#4+215# &' $4+..#06'5 %10 #.#5 &' <#
->ˆ`>\ nnx å (+415 0#4#0,#5 &' &+56+0615 61015 UQDTG WPC OQPVWTC
FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU \CHK QU EV CRTQZ
Ènn '.')#06' %1.)#06' &' $4+..#06'5 %#.+&#& ':64# /QPVWTC FG QTQ DNCPEQ FG M (KTOCFQ #ODTQUK
%10 70 2'51 616#. &' %6 #241: %QP VTKRNG ECFGPC GP ->ˆ`>\ £°ÈÈx å
QTQ DNCPEQ FG M ÇäÈ )4#0 5146+,# %#4#%1.# &' '5/#.6' $.#0%1 ;
->ˆ`>\ {°ÓÎx å /#44¯0 &'%14#&# 214 $4+..#06'5 ; 70 47$© &' %6
#241: /QPVWTC GP QTQ COCTKNNQ FG M
Èn™ ':37+5+6# )#4)#06+..# &' $4+..#06'5 &' %65 ->ˆ`>\ Ó°™xä å
#241: UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
->ˆ`>\ x°™ää å ÇäÇ 5146+,# #0%*# &' 65#814+6#5 %10 64'5 *+.'4#5 &'
$4+..#06'5 %#.+&#& ':64# /QPVWTC GP QTQ DNCPEQ FG M
șä )#4)#06+..# #46+%7.#&# %10 $1.# %'064#. &' ->ˆ`>\ Çxä å
&+#/#06'5 /QPVWTC GP QTQ DNCPEQ OCVGCFQ FG M Çän ':37+5+6# 5146+,# &' '5/'4#.&# 14.#&# 214 $4+
->ˆ`>\ ÈÈä å ..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
ș£ #.+#0<# 5+0 (+0 &' $4+..#06'5 UQDTG WPC OQPVWTC FG ->ˆ`>\ £°Ó™x å
ICTTCU GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV Çä™ $41%*' /#4+215# &' /#&42'4.# %10 14.# &' $4+
CRTQZ ..#06'5 $4190 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M (KT
->ˆ`>\ x™ä å OCFQ ) 8GTFK
È™Ó #.+#0<# 5+0 (+0 &' $4+..#06'5 '0 )#44#5 /QPVWTC
GP QTQ DNCPEQ FG M ->ˆ`>\ £°xÈä å
->ˆ`>\ ™ää å Ç£ä 27.5'4# 4+8+'4' &' $4+..#06'5 %10 70 2'51 616#.
șΠ'.')#06' 5146+,# %+037+..1 &' $4+..#06'5 UQDTG &' %6 #241: 5QDTG WPC OQPVWTC FG HKPCU ICTTCU FG QTQ
WPC OQPVWTC FG QTQ DNCPEQ FG - DNCPEQ FG M
->ˆ`>\ x™x å ->ˆ`>\ Ó°£xä å
Ç££ '.')#06' 27.5'4# &' $4+..#06'5 37' 57/#0 70
ș{ 2'0&+'06'5 &+5'­1 (.14#. &' <#(+415 ; $4+..#0 616#. &' %6 #241: 5QDTG WPC OQPVWTC FG QTQ DNCPEQ
6'5 /QPVWTC GP QTQ DNCPEQ FG M 2GUQ VQVCN DTKNNCPVGU EV FG M
CRTQZ 2GUQ VQVCN \CHK QU EV CRTQZ ->ˆ`>\ ΰÓxä å
->ˆ`>\ nÓä å Ç£Ó 27.5'4# 4+8+'4' &' $4+..#06'5 %10 70 2'51 616#.
&' %6 #241: UQDTG WPC OQPVWTC FG HKPCU ICTTCU GP QTQ
șx 5146+,# #0%*# %10 .©0'#5 '064'.#<#&#5 &' '5 DNCPEQ FG M
/'4#.&#5 ; <#(+415 ; /'&+#5 #.+#0<#5 &' $4+..#06'5 ->ˆ`>\ £°™xä å
/QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\QPCFC ǣΠ5146+,# %10 70# *+.'4# &' $4+..#06'5 UQDTG WPC
->ˆ`>\ {xä å OQPVWTC FG QTQ DNCPEQ FG -
->ˆ`>\ ™™x å
È™È 5146+,# #0%*# %10 <#(+41 %'064#. '0 (14/# &'
41/$1 ; .©0'#5 &' $4+..#06'5 .#6'4#.'5 /QPVWTC GP QTQ
COCTKNNQ FG M 2KG\C RWP\QPCFC
->ˆ`>\ ÓÇä å

50



Ç£{ $41%*' %10 14+)+0#. /16+81 &' 415641 +0&+1 Çә '.')#06'5 2'0&+'06'5 &' $4+..#06'5 &' )4#0 %#
UQDTG WPC OQPVWTC DGNNCOGPVG EKPEGNCFC GP QTQ COCTKNNQ OCVG .+&#& 37' 57/#0 70 616#. &' %6 #241: $GNNQ FKUG
[ DTKNNQ FG M ÍQ C OQFQ FG TQUGVÏP FG DTKNNCPVGU FKURWGUVQU GP ICTTCU UQDTG
->ˆ`>\ Ó°Óxä å WPC OQPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ {°äää å
Ç£x %+037+..1 &' $4+..#06'5 %10 70 2'51 616#. &'
%6 #241: %#.+&#& ':64# /QPVWTC FG QTQ DNCPEQ FG ÇÎä $41%*' #­15 &' $4+..#06'5 # /1&1 &' (.14
M EQP FQU DTKNNCPVGU OC[QTGU GP ICTTCU UQDTG WPC OQPVWTC FG QTQ
->ˆ`>\ xää å DNCPEQ FG M
->ˆ`>\ £°{xä å
Ç£È '.')#06'5 2'0&+'06'5 &' $4+..#06'5 %10 2'4.#5
#7564#.+#0#5 6+21 2'4# &' +06'051 14+'06' %1.14 ÇΣ '.')#06' 5146+,# %10 70# #/#6+56# %'064#. &'
$'+)' /QPVWTC ECNCFC GP QTQ DNCPEQ FG M +06'051 %1.14 &' %6 #241: 14.#&# 214 $4+..#0
->ˆ`>\ ΰxää å 6'5 5QDTG WPC OQPVWTC GP QTQ COCTKNNQ [ DNCPEQ FG M 2GUQ
VQVCN FG NQU DTKNNCPVGU EV CRTQZ
Ç£Ç 2'0&+'06'5 &' %7'06#5 '5(¥4+%#5 &' 67437'5#5 ->ˆ`>\ Ó°{Óx å
EQP OQVKXQ ICNNQPCFQ FG QTQ COCTKNNQ FG M
->ˆ`>\ {Çx å ÇÎÓ 5146+,# %10 70 &+#/#06' 6#..# %1,©0 (#0%; ;'
..19 41&'&#&1 &' $4+..#06'5 $.#0%15 %#.+&#& ':
Ç£n ':37+5+6# %47< &' &+#/#06'5 #06+)715 EQP ECFGPC 64# /QPVWTC GP QTQ DNCPEQ FG M EQP DTKNNCPVGU
GP QTQ COCTKNNQ FG M
->ˆ`>\ ΰäää å ->ˆ`>\ £°äää å

Ç£™ '.')#06' 5146+,# &' #)7#/#4+0# ; $4+..#06'5 UQ ÇÎÎ 14+)+0#. 5146+,# &' 67437'5#5 612#%+15 ; $4+
DTG WPC OQPVWTC FG QTQ TQUC FG - ..#06'5 C OQFQ FG VW [ [Q /QPVWTC FG ICTTCU GP QTQ COCTKNNQ
FG M
->ˆ`>\ Ó°Óää å
->ˆ`>\ Ó°äää å
ÇÓä '.')#06' )#4)#06+..# &' '5.#$10'5 $#4$#&15
&'%14#&15 '0 '. (4'06' 214 $4+..#06'5 %#.+&#& ': ÇÎ{ 5146+,# %10 70 &+#/#06' 6#..# 2'4# (#0%; ;'
64# 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG WPC OQPVWTC FG QTQ ..19 &' %6 #241: 41&'#&1 &' $4+..#06'5 $.#0
COCTKNNQ [ DNCPEQ FG M %15 %#.+&#& ':64# /QPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ £Ó°äää å
->ˆ`>\ £°äää å
ÇÓ£ )#4)#06+..# &' %7'06#5 '5(¥4+%#5 &' 67437'5#5
WPKFCU RQT OQVKXQU FG QTQ COCTKNNQ FG M ÇÎx )'/'.15 #06+)715 &'%14#&15 %10 70 &+#/#0
->ˆ`>\ Ó°Èxä å 6' %'064#. &' %6 /QPVWTC GP QTQ DNCPEQ [ TQUC FG M
RTQRKQ FG NC ÅRQEC
ÇÓÓ 2'0&+'06'5 %1.)#06'5 &' #)7#/#4+0# 67437' ->ˆ`>\ xä å
5# ; $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
ÇÎÈ 51.+6#4+1 %10 70 &+#/#06' &' %6 #241: /QP
->ˆ`>\ £°ÓÓx å VWTC GP QTQ DNCPEQ FG M
->ˆ`>\ xää å
ÇÓÎ 51.+6#4+1 &' $4+..#06' '0 )#44# /QPVWTC GP QTQ
DNCPEQ FG M 2KG\C RWP\QPCFC ÇÎÇ 51.+6#4+1 %10 70 &+#/#06' &' %6 #241: /QP
->ˆ`>\ Ó{ä å VWTC FG QTQ DNCPEQ FG M
->ˆ`>\ xää å
ÇÓ{ %+037+..1 &' $4+..#06'5 6#..# #06+)7# '0 .+)'41
&')4#&¥ UQDTG WPC OQPVWTC GP QTQ DNCPEQ FG M ÇÎn $'..1 $41%*' #06+)71 &' &+#/#06'5 UQDTG WPC
OQPVWTC FG QTQ COCTKNNQ FG M EQP GN HTGPVG FG RNCVC
->ˆ`>\ Îää å
->ˆ`>\ Èää å
ÇÓx $4#<#.'6' +/2'4+1 %10 .+0'# &' 67437'5#5 ; $#0
&#5 2#4#.'.#5 &' &+#/#06'5 6#..# 415# /QPVWTC GP QTQ ÇΙ &'.+%#&1 #.(+.'4 #06+)71 &' &+#/#06'5 FKURWGUVQU
TQUC FG M [ HTGPVG FG RNCVKPQ GP NKIGTQ FGITCFÅ /QPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ xää å
->ˆ`>\ Ó°Îää å
ÇÓÈ %10,7061 %1.)#06' &' 674/#.+0# 14.#&1 &'
$4+..#06'5 ; 5146+,# '0 141 415# &' - %10 674/#.+ Ç{ä 5146+,# %10 70 &+#/#06' %'064#. 6#..# 1%61
0# &'%14#&1 214 2'37'­15 $4+..#06'5 )10#. &' %6 (#0%; +06'05' ;'..19+5* 14#0)'
->ˆ`>\ Îää å (.#037'#&1 214 $4+..#06'5 /QPVWTC FG QTQ DNCPEQ FG
M %QP EGTVKHKECFQ #+)
ÇÓÇ ':37+5+6# 5146+,# %10 70 &+#/#06' 415# %'064#. ->ˆ`>\ Ó°nää å
&'%14#&1 214 2'37'­15 $4+..#06'5 %#.+&#& ':64#
/QPVWTC GP QTQ DNCPEQ FG M Ç{£ &'.+%#&# 27.5'4# '56+.1 #06+)1 &' $4+..#06'5
->ˆ`>\ {ää å %10 2'4.+6#5 %7.6+8#&#5 /QPVWTC FG QTQ DNCPEQ FG M
2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
ÇÓn 5146+,# '56+.1 #06+)71 %10 70 $4+..#06' %'0
64#. 6#..# #06+)7# &' %6 #241: 'ZSWKUKVQ HTGPVG DG ->ˆ`>\ Ó°£ää å
NNG GRQSWG GP OQPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ xää å

52



Ç{Ó 2'0&+'06'5 &' (14/#5 10&7.#&#5 '0 141 #/#4+ Çx{ '.')#06'5 2'0&+'06'5 &' $4+..#06'5 %10 )4#0
..1 ; 141 $.#0%1 &' 2#8¥ &' $4+.#06'5 /QPVWTC GP QTQ .)4+/# &' %14#. /'&+6'440'1 &' )4#0 %#.+&#&
DNCPEQ [ COCTKNNQ FG M ' +06'051 %1.14 2KG\C FG CNVC LQ[GTÉC TGCNK\CFQ UQDTG WPC
->ˆ`>\ Ó{ä å OQPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ È°Óää å
Ç{Î 5146+,# &' 14+)+0#. &+5'­1 %10 $4+..#06'5 /QP
VWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\QPCFC Çxx .16' &' &15 2+'<#5 RGPFKGPVGU [ EQNICPVG TQUGVÏP FG
->ˆ`>\ ÎÈä å DTKNNCPVGU /QPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ £ää å
Ç{{ (+0# )#4)#06+..# /7.6+*+.15 &' %14#. /'&+6'
440'1 %10 $'..1 $41%*' &' %#$7,10'5 &' %14#. ÇxÈ 5146+,# &1$.' 2#06'4# '0(4'06#&# %10 %#$'<#
'5/'4#.&#5 ; $4+..#06'5 5QDTG WPC OQPVWTC ECNCFC FG QTQ &' $4+..#06'5 ; 1,15 &' '5/'4#.&#5 /QPVWTC FG QTQ
COCTKNNQ FG M COCTKNNQ FG M
->ˆ`>\ Ó°™ää å ->ˆ`>\ xxä å

Ç{x )#4)#06+..# &' '5.#$10'5 '0 141 #/#4+..1 &' ÇxÇ '.')#06' %1..#4 &' 14+)+0#. &+5'­15 %10 *7'
- %10 %'0641 &' 2'37'­15 $4+..#06'5 815 '56+.1 (#$'4)' %1.)#06'5 EQP OQPVWTC [ ECFGPC FG
->ˆ`>\ ™ää å GUNCDQPGU GP QTQ COCTKNNQ FG -
->ˆ`>\ ΰäää å
Ç{È $'..15 2'0&+'06'5 415'6¯0 &' %14#. /'&+6'44
0'1 /#.#37+6# ; $4+..#06'5 &' )4#0 %#.+&#& +ORQT Çxn '.')#06' 5146+,# %10 &+#/#06'5 6#..# $4+..#0
VCPVG OQPVWTC FG QTQ COCTKNNQ FG M 6' ; $#)7'66' FG ITCP ECNKFCF $GNNQ FKUGÍQ C OQFQ FG JQLCU
->ˆ`>\ {°£ää å UQDTG WPC KORQTVCPVG OQPVWTC FG QTQ COCTKNNQ FG -

Ç{Ç 2'0&+'06'5 %10 70 47$+ UQDTG WPC OQPVWTC FG QTQ ->ˆ`>\ ΰÇää å
COCTKNNQ FG M
->ˆ`>\ £™ä å ÇÈä 14+)+0#. 5146+,# &' 47$©'5 '5/'4#.&#5 ; $4+..#0
6'5 2KG\C FG ITCP TGCNKUOQ UQDTG WPC OQPVWTC EKPEGNCFC [ OCVG
Ç{n ':37+5+61 2'0&'06+( &' '5/'4#.&#5 ; &+#/#06'5 GP QTQ TQUC FG M 2GUQ VQVCN FG NQU TWDÉGU EV CRTQZ
6#..# $4+..#06' ; $#)7'66' %10 '5/'4#.&# 6+21 2'4#
%1.)#06' &' )4#0 %#.+&#& 'NGICPVG FKUGÍQ FKURWGUVQ ->ˆ`>\ Ó°{Çx å
C FKUVKPVC CNVWTC UQDTG WPC OQPVWTC FG HKPCU ICTTCU TGCNK\CFC GP
RNCVKPQ 2GUQ VQVCN FG NCU GUOGTCNFCU EV CRTQZ 2GUQ VQVCN FG ÇÈ£ %1.)#06' (.14 &' $4+..#06'5 UQDTG WPC OQPVWTC FG
NQU FKCOCPVGU EV CRTQZ QTQ COCTKNNQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
->ˆ`>\ n°xää å
->ˆ`>\ ÇÓx å
Ç{™ %10,7061 &' %1.)#06' '0 (14/# &' .+0'# %10
&+#/#06'5 ; 51.+6#4+1 &' %6 #241: /QPVWTC GP QTQ ÇÈÓ '.')#06' )'/'.15 &1$.'5 %10 '5/#.6' #<7. UQ
DNCPEQ FG M DTG WPC KORQTVCPVG OQPVWTC ETW\CFC GP QTQ COCTKNNQ FG M
->ˆ`>\ xää å
->ˆ`>\ nää å
Çxä 5146+,# %10 2+'&4# 5'/+24'%+15# 18#. '0 61015
#0#4#0,#&15 51$4' &15 *+.'4#5 &' $4+..#06'5 /QP ÇÈÎ 2'0&+'06'5 &14/+.10#5 &' '5/'4#.&#5 UQDTG WPC
VWTC GP QTQ DNCPEQ FG M OQPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ ™ää å ->ˆ`>\ £™ä å

Çx£ 5146+,# '0 (14/# &' 41/$1 %7#,#&1 &' $4+..#0 ÇÈ{ (#814'%'&14'5 2'0&+'06'5 &' (.14'5 &' %14#. ;
6'5 $.#0%15 ; <#(+415 #/#4+..15 /QPVWTC GP QTQ DNCPEQ 2+'&4#5 5'/+24'%+15#5 DGNNCOGPVG VCNNCFCU EQP DTKNNCPVGU
FG M 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M
->ˆ`>\ ÈÈä å ->ˆ`>\ £°nää å

ÇxÓ 5146+,# %10 70 612#%+1 %+64+01 &' %6 #241: ÇÈx p$#7/' /'4%+'4q 4'.1, ,1;# &' 27.5'4# 2#4# 5'
(.#037'#&1 214 &+#/#06'5 0')415 UQDTG WPC OQPVWTC ­14# %#,# &'%14#&# %10 ; $4#<#.'6' '0 141 #/#4+
FG QTQ DNCPEQ FG M ..1 &' - /18+/+'061 57+<1 &' %7#4<1
->ˆ`>\ £°äÈx å ->ˆ`>\ £°Óää å

ÇxÎ '.')#06'5 2'0&+'06'5 &' &+#/#06'5 6#..# $4+ ÇÈÈ '.')#06' 4+8+'4' &' $4+..#06'5 %10 70 2'51 61
..#06' ; $#)7'66' %#.+&#& ':64# %10 70 &+5'­1 &' 6#. &' %6 #241: UQDTG WPC OQPVWTC FG ICTTCU GP QTQ
*1,# +ORQTVCPVG OQPVWTC FG QTQ COCTKNNQ FG M COCTKNNQ FG M
->ˆ`>\ ΰnxä å

->ˆ`>\ {°Óxä å

54



ÇÈÇ %10,7061 &' %1.)#06' ; 2'0&+'06'5 &' $4+..#0 Çnx 5146+,# &' $4+..#06'5 %10 70 <#(+41 %'064#.
6'5 FG HQTOCU NKPGCNGU /QPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ Îää å /QPVWTC GP QTQ DNCPEQ FG M ->ˆ`>\ Óää å

ÇÈn $4#<#.'6' '56+.1 #06+)71 #­15 &' $4+..#06'5 ÇnÈ 2'0&+'06'5 '56+.1 %4+1..#5 &' $4+..#06'5 /QPVWTC
%10 ':37+5+61 &+5'­1 &' (14/#5 8')'6#.'5 ; .©0'#5 FG QTQ DNCPEQ - 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
'064'.#<#&#5 /QPVWTC GP QTQ DNCPEQ FG M %QP GUVWEJG
->ˆ`>\ £°äää å ->ˆ`>\ ÇÈx å

Çș %10,7061 &' %1.)#06' '0 (14/# &' .+0'#5 %10 ÇnÇ 5146+,# %10 70# #)7#/#4+0# %'064#. &' %6
#241: /QPVWTC GP QTQ DNCPEQ FG FG M FGEQTCFC RQT RGSWG
&+#/#06'5 ; #.+#0<# &' $4+..#06'5 /QPVWTC GP QTQ DNCP ÍQU DTKNNCPVGU ->ˆ`>\ £nä å

EQ FG M ->ˆ`>\ {ää å Çnn 5146+,# %10 70# #)7#/#4+0# %'064#. &' %6
#241: /QPVWTC FG ICTTCU GP QTQ DNCPEQ FG M
ÇÇä 5146+,# (14/#&# 214 &15 .+0'#5 &' 141 $.#0 ->ˆ`>\ Îää å
%1 %7#,#&#5 &' $4+..#06'5 '0 .15 ':64'/15 37' 5'
70'0 '0 70# 2'4.# &' // &' &+#/'641 #241: /QP Çn™ 5146+,# %10 &1$.' /'&+# #.+#0<# &' $4+..#06'5
VWTC GP QTQ DNCPEQ FG M ->ˆ`>\ ÈÈä å /QPVWTC GP QTQ DNCPEQ FG -
->ˆ`>\ nxä å
ÇÇ£ &15 /'&+#5 #.+#0<#5 &' $4+..#06'5 SWG UWOCP WP
VQVCN FG EV CRTQZ /QPVWTC FG QTQ DNCPEQ FG M Ǚä 2'0&+'06'5 %#5%#&# &' /#4+215#5 &' $4+..#06'5
->ˆ`>\ Èää å UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTK
NNCPVGU EV CRTQZ ->ˆ`>\ £°££x å
ÇÇÓ %+037+..1 &' $4+..#06'5 %10 70 2'51 616#. &'

%6 #241: %N½UKEQ FKUGÍQ UQDTG WPC OQPVWTC FG ICTTCU GP Ǚ£ %1.)#06' &' $4+..#06'5 '0 (14/# &' (.14 /QPVW

QTQ DNCPEQ FG M ->ˆ`>\ xää å TC [ ECFGPC GP QTQ DNCPEQ FG M ->ˆ`>\ £xä å

ÇÇÎ %.5+%# 5146+,# %10 70 <#(+41 %'064#. &' %6 Ç™Ó 2'0&+'06'5 .#4)15 '0 (14/# &' /#4+215#5 &' '5
#241: 41&'#&# &' $4+..#06'5 %#.+&#& ':64# /#.6' #<7. &' .15 37' 2'0&'0 70# .)4+/# &' 612#
->ˆ`>\ {ää å %+1 #<7. /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ ™ää å
ÇÇ{ )#4)#06+..# %10 %1.)#06' &' 2'4.# &' 4©1 51
$4' 2.#%# &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M ǙΠ2'0&+'06'5 %10 <#(+41 UQDTG WPC OQPVWTC FG QTQ
->ˆ`>\ {xä å DNCPEQ FG M ->ˆ`>\ £™x å

ÇÇx 2'0&+'06'5 &' $4+..#06'5 %10 2'4.#5 6+21 2'4# Ǚ{ 2'0&+'06'5 ':37+5+61 &+5'­1 &' 07'8' $4+..#0
&' +06'051 14+'06' UQDTG WPC OQPVWTC FG ICTTCU GP QTQ 6'5 '0 (14/# %7#&4#&# 14.#&15 &' &1%' 612#%+15
COCTKNNQ FG M (KTOCFQ ,Q[GTÉC 5WCTG\ /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ Çää å ->ˆ`>\ ™ää å

ÇÇÈ /1&'40# 5146+,# #0%*# &' <#(+415 #)7#/#4+ Ǚx 5146+,# %10 612#%+1 #<7. &' %6 #241: ; $4+
..#06'5 /QPVWTC FG QTQ DNCPEQ FG M (KTOCFC ) 8GTFK
0#5 ; $4+..#06'5 'ZSWKUKVQ FGITCFÅ GP OQPVWTC FG QTQ DNCP
->ˆ`>\ Ó°äx£ å
EQ FG M ->ˆ`>\ Îää å
Ç™È $'..# 5146+,# %*'8#.+'4 %10 $4+..#06'5 ; &+#/#0
ÇÇÇ '.')#06' )#4)#06+..# %10 .)4+/#5 &' 67437' 6'5 6#..# %#44¥ UQDTG WPC OQPVWTC FG RNCVKPQ EQP WP RGUQ
5# $4+..#06'5 &' %65 #241: /QPVWTC FG QTQ DNCPEQ FG VQVCN FG DTKNNCPVGU FG EV CRTQZ
- ->ˆ`>\ Ó°änä å ->ˆ`>\ ™ää å

ÇÇn $'..# 5146+,# &' )4#0 %#$7,¯0 &' #)7#/#4+0# Ç™Ç /'&+# #.+#0<# &' <#(+415 /QPVWTC FG QTQ DNCPEQ FG
14.#&15 &' &+#/#06'5 ; &15 .©0'#5 &' <#(+415 #<7 - ->ˆ`>\ {ää å
.'5 ; 8'4&'5 /QPVWTC ECNCFC GP QTQ DNCPEQ FG M

->ˆ`>\ Ó°{ää å

ÇǙ 5146+,# &' /1&'401 &+5'­1 '0 141 $.#0%1 /#6' Ǚn 2'0&+'06'5 .#4)15 &' .+0'# &' 2#8¥ &' $4+..#06'5
; 27.+&1 %10 $4+..#06' %'064#. 2KG\C RWP\QPCFC
37' 57,'6#0 70 612#%+1 $4+1.'66' /QPVWTC GP QTQ DNCP

->ˆ`>\ ÓÓx å EQ FG M ->ˆ`>\ xää å

Çnä %1..#4 %10 *+.15 &' 141 $.#0%1 &' - &'. 37' Ǚ™ 2'0&+'06'5 &14/+.10#5 &' $4+..#06'5 &' %6
2'0&'0 2'4.#5 $#441%#5 &'%14#&#5 214 $4+..#06'5 #241: /QPVWTC FG ICTTCU GP QTQ DNCPEQ FG M
->ˆ`>\ xää å
->ˆ`>\ £°£™ä å
nää 2'0&'+06'5 &' 2#8¥ &' $4+..#06'5 %10 70 <#(+41
Çn£ 5146+,# %10 $4+..#06'5 ; 2'4.# #7564#.+#0# &' %'064#. /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ xÇä å
// &+/'641 %#.+&#& ':64# 5QDTG WPC OQPVWTC FG

QTQ DNCPEQ FG M ->ˆ`>\ £°äää å

ÇnÓ %1.)#06' %10 &'6#..'5 &' $4+..#06'5 &'. 37' nä£ /'&+# 5146+,# &' 47$©'5 /QPVWTC GP QTQ DNCPEQ FG
- ->ˆ`>\ {ää å
2'0&'0 %7#641 .)4+/#5 &' 67437'5# ; 0%#4 /QP

VWTC [ ECFGPC GP QTQ DNCPEQ FG M ->ˆ`>\ Σx å näÓ p%*12#4&q )'/'.15 '0 .#%# $.#0%# 51$4' #%'
41 ->ˆ`>\ £Óä å
ÇnÎ %10,7061 %1.)#06' %10 70 $4+..#06' '0 %*#
6¯0 &' %6 #241: %10 70# 5146+,# 51.+#4+1 %10 näÎ '.')#06' 27.5'4# &' ¯8#.15 '064'.#&#<15 &'
&+#/#06' &' %6 #241: /QPVWTC FG QTQ DNCPEQ FG M %14#&15 '0 701 &' 575 ':64'/15 214 %*+52+6#5 &'
->ˆ`>\ {ää å $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ ™ää å
Çn{ &'.+%#&# )#4)#06+..# &' %*#610'5 &' $4+..#0
6'5 SWG UWOCP WP VQVCN FG EV CRTQZ /QPVWTC GP QTQ DNCPEQ
FG M ->ˆ`>\ £°{ää å

56



nä{ 5146+,# $1/$¥ &'%14#&# %10 612#%+15 0#4#0 n£È '.')#06' %1..#4 &' %14#. 2+'. &' 0)'. %10 $'
,#5 &' #.6# %#.+&#& /QPVWTC GP QTQ DNCPEQ FG M ..15 )4#0#6'5 6#..# 18#. %#.+&#& ':64# (CXQTGEGFQT
FKUGÍQ FG ECPVQU FG ECTQN KPVGTECNCFQU RQT EWGPVCU FG QTQ COC
->ˆ`>\ {xä å TKNNQ [ ITCPCVGU FG FKUVKPVQU VCOCÍQU /QPVWTC FG QTQ COCTKNNQ
FG M
näx ':37+5+6#5 2'0&+'06'5 %4+1..#5 &' $4+..#06'5 %# ->ˆ`>\ {°Çää å
.+&#& ':64# UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG -
n£Ç '.')#06'5 2'0&+'06'5 .#4)15 #46+%7.#&15 %10
->ˆ`>\ {°xää å 18#.1 (+0#. &' $4+..#06'5 %#.+&#& ':64# /QPVWTC GP
QTQ DNCPEQ [ COCTKNNQ FG M
näÈ 2'0&+'06'5 .#4)15 14+)+0#. &+5'­1 &' &15 *+.' ->ˆ`>\ {xä å
4#5 &' 2#8¥ &' $4+..#06'5 /QPVWTC GP QTQ COCTKNNQ [ DNCPEQ
- n£n '56+.+<#&15 2'0&+'06'5 &' $4+..#06'5 ; .)4+/#5
->ˆ`>\ {xä å &' 47$'.+6#5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M 2GUQ
VQVCN FG NQU DTKNNCPVGU EV CRTQZ
näÇ ':37+5+615 2'0&+'06'5 .#4)15 &' 47$'.+6#5 ; $4+ ->ˆ`>\ {°äää å
..#06'5 FG ITCP ECNKFCF $GNNQ FKUGÍQ FG HQTOCU IGQOÅVTKECU
UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M n£™ 5146+,# &' .©0'#5 <#(+415 ; $4+..#06'5 %#.+&#&
->ˆ`>\ £°{xä å ':64# /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\QPCFC

nän '.')#06' 5146+,# %10 /16+81 %'064#. &' 47$©'5 ->ˆ`>\ {xä å
; 14.#&1 214 &1$.' *+.'4# &' $4+..#06'5 &' )4#0
%#.+&#& 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M nÓä /'&+# #.+#0<# %10 %+0%1 $4+..#06'5 EQP WP RGUQ
VQVCN FG EV CRTQZ %CNKFCF GZVTC /QPVWTC GP QTQ COCTKNNQ
->ˆ`>\ £°Çää å FG M
->ˆ`>\ xää å
nä™ 5146+,# $1/$¥ %10 &15 *+.'4#5 &' $4+..#06'5
%#.+&#& ':64# /QPVWTC GP QTQ COCTKNNQ OCVGCFQ FG M nÓ£ 5146+,# %10 47$+ %'064#. ; $4+..#06'5 .#6'4#.'5
'0 %#44+. /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\QPCFC
->ˆ`>\ ÈÈä å
->ˆ`>\ {xä å
n£ä 5146+,# &' %#$7,10'5 &' <#(+415 14.#&15 214
&15 .+0'#5 &' $4+..#06'5 2+'<# &' #.6# %#.+&#& /QP nÓÓ $'..15 2'0&+'06'5 &' )4#0#6'5 6#..# 18#. 70+
VWTC GP QTQ COCTKNNQ FG M &15 214 $4+..#06'5 SWG EQODKPCP GN QTQ DNCPEQ [ COCTKNNQ
->ˆ`>\ £°nää å FG M 2GUQ VQVCN FG NQU ITCPCVGU EV CRTQZ

n££ ':37+5+6# )#4)#06+..# &' )4#0#6'5 &' %65 ; ->ˆ`>\ £°£Óx å
$4+..#06'5 &' %65 #241: /QPVWTC FG QTQ COCTKNNQ FG
- nÓÎ '.')#06' 5146+,# 67 ; ;1 &' )4#0#6'5 %10 $4+
->ˆ`>\ Ç°™ää å ..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ [ COCTKNNQ FG M

n£Ó %4+1..#5 '0 141 #/#4+..1 /#6'#&1 &' - %10 ->ˆ`>\ £°äÎä å
64'5 $4+..#06'5 '0 )#44#5 '0 %#&# 70#
->ˆ`>\ ™ää å nÓ{ %#,+6# '0 141 #/#4+..1 &' - %10 270<10'5 &'
.# 24'56+)+15# 2.#6'4©# p.12'<q &' /#&4+& (KPQ VTCDCLQ
n£Î 5146+,# %10 $4+..#06'5 %'064#. %#.+&#& ':64# EQP KOCIGP FG RCKUCLG GP GN EGPVTQ
14+)+0#. &+5'­1 /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP ->ˆ`>\ ΰÓää å
\QPCFC
->ˆ`>\ ÎÈä å nÓx '.')#06' 27.5'4# 4+8+'4' &' )4#0#6'5 70+&#5 214
41/$15 &' $4+..#06'5 %#.+&#& ':64# /QPVWTC FG QTQ
n£{ $'..1 %1..#4 &' %14#. 2+'. &' 0)'. HQTOCFQ RQT COCTKNNQ [ DNCPEQ FG M 2GUQ VQVCN FG NQU ITCPCVGU EV CRTQZ
EWGPVCU FKURWGUVCU GP FGITCFÅ FG C OO FG FK½OGVTQ $TQ 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
EJG JQLCU GP QTQ COCTKNNQ OCVG FG M ->ˆ`>\ ΰÇää å
->ˆ`>\ Ó°Îää å
nÓÈ /1&'40# 5146+,# '0 141 #/#4+..1 &' -
n£x (#814'%'&14'5 2'0&+'06'5 &' $4+..#06'5 /QPVW
TC DQODÅ FG QTQ COCTKNNQ [ DNCPEQ FG M ->ˆ`>\ ÎÇx å
->ˆ`>\ Ó°äxä å

58



nÓÇ 5146+,# &1$.' 415'6¯0 &' $4+..#06'5 ; <#(+415 n{£ 27.5'4# 4©)+&# '0 '52+4#. &' %+0%1 87'.6#5 '0
%10 701 %'064#. &' /#;14 6#/#­1 UQDTG WPC OQPVWTC 141 $.#0%1 &'%14#&# %10 .©0'#5 &' $4+..#06'5 +0
FG ICTTCU FG QTQ DNCPEQ FG M 6'4%#.#&#5 /QPVWTC GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU
->ˆ`>\ £°Çää å DTKNNCPVGU EV CRTQZ
->ˆ`>\ £°nää å
nÓn $'..15 2'0&+'06'5 %1.)#06'5 &' <#(+415 ; $4+
..#06'5 5QDTG WPC OQPVWTC FG QTQ DNCPEQ FG - n{Ó %.5+%# 5146+,# %10 70 <#(+41 6#..# 2'4# &'
->ˆ`>\ ™xä å %6 #241: 14.#&1 214 $4+..#06'5 /QPVWTC FG ICTTCU
GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
nә $'..1 %10,7061 &' 2'0&+'06'5 ; 5146+,# &' <#
(+415 14.#&15 214 $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ ->ˆ`>\ £°äÇx å
COCTKNNQ [ DNCPEQ FG -
->ˆ`>\ Ó°Óxä å n{Î )4#0 5146+,# %10 70# #)7#/#4+0# &' %6
#241: &' +06'051 %1.14 #&140#&# 214 $4+..#06'5
nÎä '.')#06' $41%*' '56+.1 (.14#. %10 70 %#$7 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTK
,¯0 &' <#(+41 &' %6 #241: ; 2¥6#.15 %7#,#&15 &' NNCPVGU EV CRTQZ
$4+..#06'5 EQP WP RGUQ VQVCN FG EV CRTQZ /QPVWTC FG QTQ ->ˆ`>\ ™°™ää å
DNCPEQ FG M
->ˆ`>\ È°äää å n{{ &'.+%#&15 2'0&+'06'5 .#<15 &' $4+..#06'5 &' .15
37' 2'0&'0 70# $'..# .)4+/# &' #)7#/#4+0# 5QDTG
nΣ (#814'%'&14'5 2'0&+'06'5 %#5%#&# &' <#(+415 WPC OQPVWTC FG ICTTCU FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NCU
; $4+..#06'5 &' )4#0 %#.+&#& (QTOCFQU RQT WP TQUGVÏP CIWCOCTKPCU EV CRTQZ 2GUQ VQVCN FG NQU DTKNNCPVGU EV
FG \CHK Q QTNCFQ RQT DTKNNCPVGU FG NQU SWG ECGP JKNGTCU FG \CHK QU CRTQZ
[ DTKNNCPVGU FKURWGUVQU FG HQTOC KPVGTECNCFC UQDTG WPC OQPVWTC ->ˆ`>\ Ó°xxä å
FG ICTTCU FG QTQ DNCPEQ FG M
->ˆ`>\ {°äää å n{x 2'0&'+06'5 '0 (14/# &' 4#/# %10 *1,#5 &'%1
4#&#5 %10 <#(+415 415#5 ; #<7.'5 ; $4+..#06'5 /QP
nÎÓ 5146+,# '56+.1 (.14#. %10 <#(+415 ; $4+..#06'5 VWTC GP QTQ DNCPEQ FG M
/QPVWTC GP QTQ DNCPEQ FG - ->ˆ`>\ {xä å
->ˆ`>\ £°Îxä å
n{È '56+.+<#&1 $41%*' &' $4+..#06'5 %10 64'5 $4+
nÎÎ '.')#06' 5146+,# &' <#(+415 6#..# $#)7'66' ..#06'5 &' /#;14 6#/#­1 FKURWGUVQU UQDTG WP DGNNQ FK
; $4+..#06'5 FG ITCP ECNKFCF FKURWGUVQU C FKUVKPVCU CNVWTCU UGÍQ FG HQTOCU QPFWNCFCU 4GCNK\CFQ UQDTG WPC OQPVWTC FG QTQ
5QDTG WPC OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG M 2GUQ VQVCN DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
FG NQU \CHK QU EV CRTQZ 2GUQ VQVCN FG NQU DTKNNCPVGU EV
CRTQZ ->ˆ`>\ È°äää å
->ˆ`>\ £°Èxä å
n{Ç $'..15 2'0&+'06'5 &' $4+..#06'5 ; <#(+415 &'
nÎ{ ':37+5+6# 5146+,# %10 #)7#/#4+0# &' %6 )4#0 %#.+&#& FG QTKIKPCNGU HQTOCU UQDTG WPC OQPVWTC FG
#241: (.#037'#&# 214 &+#/#06'5 6#..# 64#2'%+1 ; QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU \CHK QU EV CRTQZ 2GUQ
$4+..#06'5 EQP WP RGUQ VQVCN FG EV CRTQZ 5QDTG WPC OQP VQVCN FG NQU DTKNNCPVGU EV CRTQZ
VWTC FG RNCVKPQ ->ˆ`>\ Ó°{ää å
->ˆ`>\ £°Óää å
n{n 5146+,# &' %7#641 .+0'#5 &15 &' '..#5 %7#,#&#5
nÎx '.')#06'5 2'0&+'06'5 %1.)#06'5 &' #)7#/#4+ &' $4+..#06'5 ; .#5 164#5 &15 &' <#(+415 %#.+
0# ; $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG - $4#&15 %#.+&#5 ':64# /QPVWTC GP QTQ DNCPEQ FG M

->ˆ`>\ Ǚx å ->ˆ`>\ ÈÈä å

nÎÈ $'..1 %1.)#06' %10 &15 %*#610'5 &' $4+..#0 n{™ 14+)+0#. 5146+,# #­15 &' $4+..#06'5 ; &+#
6'5 ; 70# #)7#/#4+0# UQDTG WPC OQPVWTC FG QTQ DNCPEQ /#06'5 6#..# $#)7'66' %10 &15 <#(+415 6#..# /#4
FG - 37+55' 'NGICPVG FKUGÍQ FG HKPCU ICTTCU GP Q Q DNCPEQ FG M
->ˆ`>\ Ǚx å
->ˆ`>\ £°Îää å
nÎÇ %47< %10 415'610'5 &' <#(+415 14.#&15 &' $4+
..#06'5 /QPVWTC [ ECFGPC GP QTQ DNCPEQ FG M nxä /'&+# #.+#0<# &' $4+..#06'5 ; <#(+415 UQDTG WPC
->ˆ`>\ {xä å OQPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ Îää å
nÎn 2'0&+'06'5 &' $4+..#06'5 ; )4#0 .)4+/# &' nx£ 5146+,# &' $4+..#06'5 %#.+&#& ':64# UQDTG WPC CNVC
10+: 1TKIKPCN FKUGÍQ C OQFQ FG VTK½PIWNQ EWCLCFQ FG DTKNNCPVGU OQPVWTC OQFGNQ EQTFÏP FGEQTCFC EQP NÉPGCU FG DTKNNCPVGU GP
EQP WP RGUQ VQVCN FG EV CRTQZ 5QDTG WPC OQPVWTC FG ICTTCU QTQ DNCPEQ FG M
GP QTQ DNCPEQ FG M ->ˆ`>\ £°£ää å
->ˆ`>\ £°Ç£x å
nxÓ '.')#06'5 2'0&+'06'5 &' $4+..#06'5 ; <#(+415 UQ
nΙ 5146+,# $1/$' %10 '5/#.6' 0')41 ; /'&75# &' DTG WPC OQPVWTC FG QTQ DNCPEQ FG -
$4+..#06'5 UQDTG WPC ITCP OQPVWTC GP QTQ DNCPEQ FG M ->ˆ`>\ șx å

->ˆ`>\ £°Çxä å nxÎ %.5+%15 )'/'.15 &1$.'5 %10 <#(+41 %'064#.
/QPVWTC TK\CFC GP QTQ DNCPEQ [ COCTKNNQ FG M
n{ä ':37+5+6# )#4)#06+..# &' <#(+415 ; $4+..#06'5 ->ˆ`>\ xää å
&' )4#0 %#.+&#& FKURWGUVQU FG HQTOCU IGQOÅVTKECU CNVGT
PCU 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG WPC HKPC OQPVWTC FG QTQ nx{ 27.5'4# 4©)+&# &' <#(+415 ; $4+..#06'5 UQDTG WPC
DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ 2GUQ VQVCN OQPVWTC FG QTQ DNCPEQ FG -
FG NQU \CHK QU EV CRTQZ ->ˆ`>\ £°xää å
->ˆ`>\ £Î°äää å

60



nxx )4#0 $4#<#.'6' &' $4+..#06'5 %10 2+'&4#5 &' %1 nÇä /'&+# #.+#0<# &' $4+..#06'5 UQDTG WPC OQPVWTC FG

.14'5 C OQFQ FG HNQ +ORQTVCPVG OQPVWTC FG QTQ DNCPEQ FG ICTTCU GP QTQ DNCPEQ FG M

M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ (KTOCFQ #ODTQUK ->ˆ`>\ xÇx å

->ˆ`>\ £{°äää å nÇ£ ':37+5+615 2'0&+'06'5 %1.)#06'5 &' $4+..#06'5
'56+.1 (.14#. ; &+#/#06'5 6#..# $#)7'66' %#.+&#&
nxÈ $'..# 5146+,# %10 #)7#/#4+0# %6 #241: 14 ':64# 214 57 %1.14 $.#0%1 ; )4#0 274'<# %QP WP
.#&# 214 $4+..#06'5 UQDTG WPC OQPVWTC FG RNCVKPQ RGUQ VQVC FG EV CRTQZ 5QDTG WPC FGNKECFC OQPVWTC CTVKEWNCFC
FG QTQ DNCPEQ FG -
->ˆ`>\ £°{ää å ->ˆ`>\ n°xää å

nxÇ '.')#06' %1.)#06' %10 &15 %*#610'5 &' $4+ nÇÓ %1.)#06' %10 70# $1.# &' 141 $.#0%1 /#6'#
..#06'5 ; 70# #)7#/#4+0# /QPVWTC FG QTQ DNCPEQ FG - &1 &'%14#&# %10 2'37'­15 $4+..#06'5 '0 57 572'4
(+%+' %CFGPC GP QTQ DNCPEQ FG M
->ˆ`>\ È{ä å ->ˆ`>\ {xä å

nxn ':37+5+61 %1.)#06' &' #)7#/#4+0# 14.#&1 214 nÇÎ '.')#06'5 2'0&+'06'5 %1.)#06'5 %10 612#%+1
$4+..#06'5 ; <#(+415 UQDTG WPC OQPVWTC FG RNCVKPQ 2GUQ VQ #<7. 6#..# 2'4# ; $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ
VCN FG NC CIWCOCTKPC EV CRTQZ DNCPEQ FG - 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
->ˆ`>\ Ó°xää å

nx™ 4'.1, ,1;# p1/')#q &' 5'­14# %#,# 18#. &' $4+ ->ˆ`>\ Ó°Èää å
..#06'5 ; $4#<#.'6' '0 /#..# &' 141 $.#0%1 &' -
/QXKOKGPVQ UWK\Q FG EWCT\Q nÇ{ &1$.' 5146+,# &' $4+..#06'5 ; <#(+415 %#.+&#& ':
->ˆ`>\ Èää å 64# /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ ™ää å
nÈä /'&+# #.+#0<# &' $4+..#06'5 UQDTG WPC OQPVWTC FG
QTQ DNCPEQ FG M nÇx '.')#06'5 2'0&+'06'5 &' 2'4.#5 #7564#.+#0#5&'
->ˆ`>\ xÓx å +06'051 14+'06' 37' 2'0&'0 &' 70# *+.'4# &' $4+
..#06'5 EQP WP RGUQ VQVCN FG EV CRTQZ 5QDTG WPC OQPVWTC
nÈ£ '.')#06' $41%*' &' &+#/#06'5 ; <#(+415 FKUGÍQ FG QTQ DNCPEQ FG -
FG DGNNCU HQTOCU XGIGVCNGU UQDTG WPC OQPVWTC FG QTQ DNCPEQ ->ˆ`>\ Ó°Óää å
FG -
->ˆ`>\ Ó°Óää å nÇÈ '.')#06' 5146+,# %10 $4+..#06' %'064#. %#44¥
'0 (14/# &' 41/$1 ; $4+..#06'5 '0 .15 .#6'4#.'5
nÈÓ '.')#06' 5146+,# %10 #)7#/#4+0# %'064#. %#.+&#& ':64# /QPVWTC GP QTQ DNCPEQ FG M
%6 #241: &'%14#&# 214 /'&+# #.+#0<# &' $4+
..#06'5 UQDTG WPC OQPVWTC FG RNCVKPQ ->ˆ`>\ £°x™ä å
->ˆ`>\ £°Óää å
nÇÇ 5146+,# %7#,#&# &' $4+..#06'5 $.#0%15 ; 0'
nÈÎ #.+#0<# 5+0 (+0 &' &+#/#06'5 6#..# #06+)7# 51 )415 FG HQTOCU IGQOÅVTKECU UQDTG WPC OQPVWTC FG QTQ DNCPEQ
$4' /10674# &' 2.#6+01 FG M
->ˆ`>\ {ää å ->ˆ`>\ Çää å

nÈ{ ':37+5+615 2'0&+'06'5 .#4)15 &' $4+..#06'5 %10 nÇn '.')#06' %1..#4 &' 2'4.#5 &' 6#*+6+ UQDTG WPC OQP
%4+56#. &' 41%# %1.)#06' UQDTG WPC OQPVWTC FG QTQ DNCP VWTC FG QTQ DNCPEQ FG -
EQ FG - ->ˆ`>\ {™x å
->ˆ`>\ £°{xä å
nǙ 5146+,# &' $4+..#06'5 %10 14+)+0#. &+5'­1 &'
nÈx '.')#06' )#4)#06+..# 4+8+'4' &' $4+..#06'5 %N½ (14/#5 )'1/'64+%#5 %#.+&#& ':64# /QPVWTC GP QTQ
UKEQ FKUGÍQ GP NKIGTQ FGITCFÅ EQP WP RGUQ VQVCN FG EV CRTQZ DNCPEQ FG M
/QPVWTC FG HKPCU ICTTCU FG Q Q DNCPEQ FG M ->ˆ`>\ £°Îxä å
->ˆ`>\ ΰäää å
nnä '.')#06'5 2'0&+'06'5 *1,#5 &' $4+..#06'5 ; &+#
nÈÈ $'..15 2'0&+'06'5 %10 *+.'4#5 &' $4+..#06'5 5Q /#06'5 6#..# 24+0%'5# %#.+&#& ':64# 214 57 %1.14
DTG WPC OQPVWTC FG RNCVKPQ $.#0%1 ; )4#0 274'<# (CXQTGEGFQT FKUGÍQ HQTOCFQ RQT
->ˆ`>\ £°Çää å UKPWQUCU JKNGTCU FG DTKNNCPVGU [ RTKPEGUCU FKURWGUVCU GP NKIGTQ FG
ITCFÅ UQDTG WPC OQPVWTC FG ICTTCU [ GP ECTTKN FG QTQ DNCPEQ FG
nÈÇ &'.+%#&# 5146+,# 67 ; ;1 &' 612#%+15 SWG UWOCP M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
WP VQVCN FG EV CRTQZ EQP RGSWGÍQU FKCOCPVGU 5QDTG WPC
OQPVWTC FG QTQ DNCPEQ [ COCTKNNQ FG M ->ˆ`>\ £ä°xää å
->ˆ`>\ nxä å
nn£ $'..# 27.5'4# &' $4+..#06'5 %#.+&#& ':64# '56+.1
nÈn 5146+,# %10 &+#/#06' 415# %'064#. 14.#&1 214 )#..10#&1 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
2'37'­15 $4+..#06'5 .KIGTC OQPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ x°xää å
->ˆ`>\ {ää å
nnÓ '.')#06' 27.5'4# (+4/#&# &' '5.#$10'5 '064'
nș 5146+,# %10 70 $4+..#06' %'064#. &' %6 .#<#&15 %7#,#&15 &' $4+..#06'5 GP OQPVWTC FG QTQ DNCP
#241: HNCPSWGCFQ RQT RGSWGÍQU DTKNNCPVGU /QPVWTC FG QTQ EQ FG M %CNKFCF GZVTC
DNCPEQ FG M
->ˆ`>\ ™ää å ->ˆ`>\ ΰäää å

62



nnÎ '.')#06'5 2'0&+'06'5 %1.)#06'5 %10 612#%+1 n™n 2'0&+'06'5 .#4)15 #46+%7.#&15 &' .©0'#5 &' $4+
#<7. 14.#&1 214 $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ ..#06'5 &+527'56#5 '0 <+) <#) /QPVWTC GP QTQ DNCPEQ FG
DNCPEQ FG - M
->ˆ`>\ Ó°ÎÈx å ->ˆ`>\ ™ää å

nn{ ':37+5+6# 5146+,# %10 70 612#%+1 #<7. 14.#&1 n™™ 2'0&+'06'5 &' &1$.' 2'4.# )4+5 #7564#.+#0# &'
214 $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG - // .# /5 2'37'­# ; // .# /5 )4#0&' 41&'#
&# &' .©0'# &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ £°Î™x å
->ˆ`>\ £°Çxä å
nnx 14+)+0#.'5 2'0&+'06'5 '0 (14/# &' .#<1 '04'8'
5#&1 &' 2#8' &' $4+..#06'5 %#.+&#& ':64# /QPVWTC GP ™ää 5146+,# &+5'­1 14+)+0#. 18#.#&1 &' $4+..#06'5
QTQ DNCPEQ FG M &' %6 #241: %#.+&#& ':64# /QPVWTC GP QTQ DNCPEQ
->ˆ`>\ £°Îxä å FG M
->ˆ`>\ ÎÎä å
nnÈ '.')#06' 5146+,# #0%*# %10 &+#/#06' %'064#. ™ä£ p%*12#4&q )'/'.15 &' .#2+5.<7.+ UQDTG WPC OQPVW
; %7#,#&1 &' &+#/#06'5 /QPVWTC GP QTQ DNCPEQ FG M TC GP CEGTQ ->ˆ`>\ £™ä å

->ˆ`>\ x°nxä å ™äÓ ':37+5+615 2'0&+'06'5 &' #/#6+56# ; 612#%+1 14
.#&15 214 $4+..#06'5 UQDTG WPC OQPVWTC GP QTQ DNCPEQ FG
nnÇ 14+)+0#. %1.)#06' %10 &15 2.7/#5 &' )4#0 6# -
/#­1 '0 141 $.#0%1 &' 2#8¥ &' $4+..#06'5 %#.+&#& ->ˆ`>\ n™x å
':64# /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ Ó°Çää å ™äÎ 5146+,# &' 674/#.+0#5 415#5 14.#&#5 &' 4'%6#0
)7.1 &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
nnn /1&'40# 5146+,# &' &15 *1,#5 '064'.#<#&#5 &'
2#8¥ &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M 2KG\C RWP ->ˆ`>\ ÈÈä å
\QPCFC
->ˆ`>\ £°Îxä å ™ä{ /'&+#5 %4+1..#5 '0 141 $.#0%1 /#6'#&1 %10
6'4/+0#%+10'5 '0 141 #/#4+..1 &'%14#&#5 %10 70
nn™ '.')#06'5 2'0&+'06'5 '0 (14/# &' *1,# &' 2#8¥ %'0641 &' 2#8¥ &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG
&' $4+..#06'5 %#.+&#& ':64# /QPVWTC GP QTQ DNCPEQ FG M
M 2KG\C RWP\QPCFC ->ˆ`>\ ™ää å
->ˆ`>\ ™ää å
n™ä $'..1 %1.)#06' %10 70# 2'4.# #7564#.+#0# ; ™äx ':37+5+61 $41%*' 4#0# &'%14#&# %10 <#(+415 ;
$4+..#06'5 EQP ECFGPC [ UQDTG WPC OQPVWTC GP QTQ DNCPEQ FG $4+..#06'5 &' &+56+0615 6#/#­15 /QPVWTC GP QTQ DNCPEQ
- FG M %CNKFCF GZVTC
->ˆ`>\ {Èä å ->ˆ`>\ ™ää å
™äÈ 5146+,# %10 %'0641 %+4%7.#4 &'%14#&1 %10
n™£ 14+)+0#. )#4)#06+..# 5'/+4©)+&# &+527'56# '0 2#8¥ &' $4+..#06'5 UQDTG OQPVWTC GP QTQ DNCPEQ OCVGCFQ
%7#&4#&15 &' 141 $.#0%1 +06'4%#.#&15 %10 2#8¥ FG M
&' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ Ó°Çää å ->ˆ`>\ {xä å
n™Ó '.')#06' )#4)#06+..# &' 2'4.#5 $#441%#5 '0
.+)'41 &')4#&¥ %10 70 .+)'41 6101 )4+5#%'1 $' ™äÇ 14+)+0#. 5146+,# &' 2'4.# 6#*+6© 51$4' /10674#
..1 14+'06' ; *1/1)¥0'1 %1.14 %#.+&#& ':64# 5KP &' 141 $.#0%1 &' - ; &'%14#%+¯0 &' $4+..#06'5
GPHKNCT .#6'4#.'5
->ˆ`>\ {°äxä å ->ˆ`>\ x{ä å
n™Î $'..15 2'0&+'06'5 &' $4+..#06'5 %#.+&#& ':64# ™än 5146+,# %10 (4'06' &' $4+..#06'5 GP NÉPGCU FKCIQPC
&' 14+)+0#. &+5'­1 )'1/¥64+%1 HQTOCFQ RQT WP TQUGVÏP NGU GPOCTECFCU EQP \CHK QU ECNKDTCFQU
FGN SWG RGPFGP DTKNNCPVGU GP ECUECFC UQDTG WPC OQPVWTC FG ->ˆ`>\ Îää å
HKPCU ICTTCU GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU
EV CRTQZ ™ä™ 14+)+0#.'5 2'0&+'06'5 '0 (14/# &' /'&+# .70#
->ˆ`>\ ΰÈää å 51$4' 141 $.#0%1 /#6'#&1 %10 &'%14#%+¯0 &' $4+
n™{ p1/')#q 4'.1, &' 27.5'4# 2#4# 5'­14# $4#<#.' ..#06' /QPVWTC GP QTQ DNCPEQ FG M
6' '0 141 $.#0%1 ; %#,# 41&'#&# &' $4+..#06'5 %# ->ˆ`>\ £Îx å
.+&#& ':64# /18+/+'061 /#07#. %#.+$4' '52'4#
$.#0%# %10 07/'4#%+¯0 # 64#<15 ™£ä $'..15 2'0&+'06'5 %1.)#06'5 &' <#(+415 ; $4+
->ˆ`>\ £°Óää å ..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
n™x $'..15 2'0&+'06'5 &' 2'4.#5 #7564#.+#0#5 ; $4+
..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG - ->ˆ`>\ ™nx å

->ˆ`>\ ÈÈx å ™££ '.')#06'5 )'/'.15 &' .#2+5.<7.+ %10 /16+815
)'1/¥64+%15 &' $4+..#06'5 ; '5/'4#.&#5 %#.+$4#
n™È 2'0&+'06'5 %1.)#06'5 &' #/#6+56#5 .)4+/# &' &#5 'ZSWKUKVC RKG\C TGCNK\CFC UQDTG WPC OQPVWTC FG QTQ DNCPEQ
612#%+1 14.#&1 &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG FG M
M 2GUQ VQVCN DTKNNCPVGU CRTQZ ->ˆ`>\ Ó°xää å
->ˆ`>\ Ènä å
™£Ó 27.5'4# &' 141 $.#0%1 %+0%'.#&1 &' - 5#.2+
n™Ç 5146+,# &' $4+..#06'5 %10 701 %'064#. &' %6 %#&1 214 $4+..#06'5
#241: %7#,#&# &' $4+..#06'5 %#.+&#& ':64# /10 ->ˆ`>\ nÎä å
674# &' 141 $.#0%1 &' -
->ˆ`>\ £°xää å ™£Î 27.5'4# &' <#(+415 ; $4+..#06'5 +06'4%#.#&15
/QPVWTC GP QTQ DNCPEQ FG M
64 ->ˆ`>\ £°Ènä å



™£{ 14+)+0#. %10,7061 &+5'­1 ':%.75+81 %10 $' ™Ón '.')#06' 5146+,# #06+)7# %10 70# '5/'4#.&#
..#5 2'4.#5 #7564#.+#0#5 $#441%#5 %#$7,10'5 &' %'064#. &' %6 #41: 14.#&# 214 &15 *+.'4#5 &'
'5/'4#.&#5 ; $4+..#06'5 EQORWGUVQ RQT RGPFKGPVGU [ ICT $4+..#06'5 SWG UWOCP WP VQVCN FG EV CRTQZ 5QDTG WPC
ICPVKNNC /QPVWTC FG QTQ COCTKNNQ FG M OQPVWTC FG RNCVKPQ
->ˆ`>\ £°xää å ->ˆ`>\ Ó°xää å

™£x 2'37'­#5 %4+1..#5 '0 (14/# &' .#74'. &' $4+ ™Ó™ '.')#06'5 2'0&+'06'5 &' %4+5124#5# ; $4+..#0
..#06'5 #.6# %#.+&#& /QPVWTC GP QTQ COCTKNNQ FG M 6'5 ':37+5+61 &+5'­1 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG
-
->ˆ`>\ £°Çää å
->ˆ`>\ ÈÈä å

™£È 5146+,# %10 70 $4+..#06' %'064#. &' %6 ™Îä /'&+# #.+#0<# &' &+#/#06'5 '0)#56#&15 '0 %#
#241: UQDTG OCTEQ EWCLCFQ FG DTKNNCPVGU GP QTQ COCTKNNQ FG 44+. ECNKFCF GZVTC UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M
M
->ˆ`>\ Çää å ->ˆ`>\ xää å

™£Ç %#,+6# 2#56+..'41 '0 141 #/#4+..1 &' - %10 ™Î£ /'&+# #.+#0<# &' $4+..#06'5 37' 57/#0 70 616#.
)#6# 8'4&' '0 .# 6#2# EQP RWP\QPGU FG NC RTGUVKIKQUC RNC &' %6 #241: %CNKFCF GZVTC /QPVWTC FG QTQ COCTKNNQ FG
VGTÉC p.ÏRG\q FG /CFTKF M
->ˆ`>\ Ó°Óxä å ->ˆ`>\ xää å

™£n %#,+6# 2#56+..'41 $'..#/'06' %+0%'.#&# GP QTQ ™ÎÓ %1..#4 .#4)1 &' 2'4.#5 #7564#.+#0#5 &'
COCTKNNQ FG - %QP RWP\QPGU # // &' &+/'641 %#.+&#& ':64# 214 57 +06'051
->ˆ`>\ £°£xä å 14+'06' ; *1/1)¥0'1 %1.14 .+)'4#/'06' )4+5 %QNNCT
FGUOQPVCDNG GP RWNUGTC [ EQNNCT C EQPLWPVQ
™£™ $'..#5 2'4.#5 #7564#.+#0#5 UQDTG WPC OQPVWTC FG QTQ ->ˆ`>\ ΰäää å
COCTKNNQ FG -
->ˆ`>\ ÓÎx å ™ÎÎ $4#<#.'6' 4©)+&1 #­15 '0 141 #/#4+..1 &'
- 64'0<#&1 %10 (4'06' &' $4+..#06'5 ; 47$©'5 %#
™Óä %10,7061 &' 5146+,# &' 674/#.+0# %'064#. '0 .+$4#&15 %10 2'0&+'06'5 # ,7')1 &' .15 37' 2'0&'
141 $.#0%1 &' - ; %1.)#06' &' .©0'#5 &' $4+..#0 70# 2'4.# %7.6+8#&# 6+21 2'4#
6'5 ->ˆ`>\ Ó°äää å
->ˆ`>\ Îää å
™Î{ $'..15 2'0&+'06'5 '56+.1 (.14#. &' '.')#06' &+
™Ó£ $41%*' 2+­# %10 %#$7,10'5 &' '5/'4#.&#5 51 5'­1 %10 $4+..#06'5 '0 '. %'0641 EQP OQPVWTC FG QTQ
$4' 70# /10674# %+0%'.#&# &' 141 #/#4+..1 &' - COCTKNNQ FG -
&'%14#&# 214 $4+..#06'5 '0 .15 ':64'/15 ->ˆ`>\ £°{xä å

->ˆ`>\ Ó°äää å ™Îx '.')#06' $41%*' %10 (14/# &' #$',# %10 '5
™ÓÓ %1.)#06' &' %47< %10 '5/'4#.&#5 EQP WPC OQPVW /'4#.&#5 ; $4+..#06'5 %#.+&#& ':64# UQDTG WPC OQPVW
TC GP QTQ COCTKNNQ FG - TC FG QTQ COCTKNNQ FG -
->ˆ`>\ £xä å ->ˆ`>\ £°xää å

™ÓÎ %10,7061 &' 2'0&+'06'5 ; 5146+,# &' '5/'4#. ™ÎÈ 5146+,# 51.+6#4+1 %10 70 $4+..#06' %'064#. 6#
&#5 ; $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG - ..# #06+)7# &' %6 #241: 5QDTG WPC ITCP OQPVWTC
EKPEGNCFC GP QTQ COCTKNNQ FG M
->ˆ`>\ ™ää å ->ˆ`>\ n°xää å

™Ó{ 5146+,# %10 '5/'4#.&# &' %6 #241: .KIGTC ™ÎÇ ':37+5+615 )'/'.15 &1$.'5 &' %#$7,1'50 &' '5
OQPVWTC FG RGSWGÍQU DTKNNCPVGU UQDTG WPC OQPVWTC FG QTQ DNCP /'4#.&#5 ; $4+..#06'5 FG ITCP ECNKFCF UQDTG WPC OQPVWTC
EQ FG M GP QTQ COCTKNNQ FG M
->ˆ`>\ Îää å ->ˆ`>\ £°Èää å

™Óx '.')#06'5 2'0&+'06'5 &' 2'4.#5 #7564#.+#0#5 UQ ™În 27.5'4# 4+'8+'4' &' %*#610'5 &' $4+..#06'5 &'
DTG WPC OQPVWTC FG QTQ COCTKNNQ FG - %6 #241: %#.+&#& ':64# /QPVWTC GP QTQ DNCPEQ FG
->ˆ`>\ ÎÇx å M
->ˆ`>\ £°äää å

™ÓÈ /1&'40# 5146+,# &' 2#8¥ &' $4+..#06'5 $.#0%15 ™Î™ '.')#06' 27.5'4# 4©)+&# &' $4+..#06'5 ; '5/'4#.
; (#0%; /QPVWTC GP QTQ COCTKNNQ [ DNCPEQ FG M &#5 FG ITCP ECNKFCF 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG
-
->ˆ`>\ {xä å ->ˆ`>\ £°Óää å

™ÓÇ '.')#06' 5146+,# #­15 %10 70# )4#0 '5/'
4#.&# 4'%6#0)7.#4 51$4' 70 +/2146#06' /#4%1 &'
$4+..#06'5 ; &+#/#06'5 6#..# $#)7'66' ; 24+0%'5#
#NVC OQPVWTC FG QTQ DNCPEQ FG M 2KG\C RTQEGFGPVG FG NC LQ
[GTÉC 5CP\ FG /CFTKF 2GUQ VQVCN FG NQU FKCOCPVGU EV CRTQZ

->ˆ`>\ £°nää å

66



™{ä 27.5'4# &' #/#6+56#5 UQDTG WPC OQPVWTC ECNCFC FG EÉT ™xÎ )#4)#06+..# (14/#&# 214 %+0%1 *+.15 &' %7'0
EWNQU GP QTQ DNCPEQ FG M (KTOCFQ 6GVTC 6#5 &' 47$©'5 (#%'6#&#5 &+527'56#5 '0 .+)'41 &')4#
->ˆ`>\ nnä å &¥ #&140#&#5 214 $4+..#06'5 5QDTG WPC OQPVWTC FG QTQ
™{£ 27.5'4# &' #/#6+56#5 %10 $4+..#06'5 EQP WP RGUQ COCTKNNQ FG M
VQVCN FG EV CRTQZ 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M ->ˆ`>\ ΰÓää å
(KTOCFQ ) 8GTFK
->ˆ`>\ £°xÎÇ å ™x{ 5146+,# %10 <#(+415 0#4#0,#5 ; $4+..#06'5 &' .#
37' 2'0&' 70# 674/#.+0# /QPVWTC FG QTQ COCTKNNQ FG M
™{Ó ':37+5+61 $4#<#.'6' 67$7.#4 %10 )4#0 #/#6+56# (KTOCFC 5VGHCP *CHPGT
(#%'6#&# '0 141 #/#4+..1 )#..10#&1 &' - &'%1 ->ˆ`>\ £°{xä å
4#&1 214 $4+..#06'5 2KG\C FG CNVC LQ[GTÉC [ ITCP DGNNG\C
™xx '.')#06' 5146+,# %10 $'..1 %#$7,¯0 &' <#(+41
->ˆ`>\ ™°äää å 14.#&1 214 $4+..#06'5 ; <#(+415 %#.+$4#&15 UQDTG WPC
OQPVWTC FG QTQ COCTKNNQ [ DNCPEQ FG M
™{Î $41%*' .+$¥.7.# &' /#&4'2'4.# %10 (+0# 14.# &' ->ˆ`>\ £°£ää å
<#(+415 415#5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M (KT
OCFQ ) 8GTFK ™xÈ )'/'.15 &1$.'5 %10 %7'06#5 &' %#.%'&10+# (#
->ˆ`>\ £°Çää å %'6#&# UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M

™{{ 2'0&+'06'5 %1.)#06'5 %10 #/#6+56#5 ; $4+..#0 ->ˆ`>\ ÎÓx å
6'5 UQDTG WPC OQPVWTC FG QTQ TQUC FG M 2GUQ VQVCN FG NQU
DTKNNCPVGU EV CRTQZ (KTOCFQ 2CUSWCNG $TWPK ™xÇ ':37+5+615 )'/'.15 &' $#44+6#5 &' 10+: 70+&15
214 +/2146#06' /10674# &' 141 #/#4+..1 &' - &'
->ˆ`>\ Ó°ÓÇx å %14#&# 214 47$©'5
->ˆ`>\ £°{xä å
™{x 14+)+0#. 5146+,# (14/# &' 5'42+'06' %10 70#
)4#0 #/#6+56# 14.#&# &' $4+..#06'5 ; <#(+415 415#5 ™xn /'&+# #.+#0<# &' 674/#.+0#5 UQDTG WPC OQPVWTC FG
/QPVWTC FG QTQ TQUC FG M (KTOCFQ ) 8GTFK ICTTCU GP QTQ TQUC FG M
->ˆ`>\ nÇx å ->ˆ`>\ Î{ä å

™{È $41%*'5 .+$¥.7.# &' /#&4'2'4.# 415# %10 %7'4 ™x™ $'..1 $41%*' (.14 %10 )4#0&'5 2+56+.15 &' #/#
21 &' $4+..#06'5 /QPVWTC FG QTQ DNCPEQ FG M 6+56#5 ; %'0641 &' $4+..#06'5 'UVKNK\CFQ VCNNQ EQP FQU
ITCPFGU JQLCU TGCNK\CFCU UQDTG WPC OQPVWTC NKUC GP QTQ COCTKNNQ
->ˆ`>\ £nx å FG M
™{Ç $'..# %47< &' $4+..#06'5 ; <#(+415 415#5 UQDTG WPC ->ˆ`>\ ΰÎää å
OQPVWTC FG ICTTCU [ ECFGPC GP QTQ DNCPEQ FG M 2GUQ VQVCN FG
NQU \CHK QU EV CRTQZ ™Èä $'..# 5146+,# %10 70# #/#6+56# 14.#&# 214 &15
->ˆ`>\ ÈÇx å *+.'4#5 &' $4+..#06'5 0')415 UQDTG WPC OQPVWTC FG QTQ
DNCPEQ FG - 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
™{n 5146+,# (.14 %10 <#(+415 415#5 ; $4+..#06'5
/QPVWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU \CHK QU EV ->ˆ`>\ Ó°äää å
CRTQZ (KTOCFC #ODTQUK
->ˆ`>\ £°ÎÇx å ™È£ 2'0&+'06'5 &' 47$©'5 14.#&15 214 $4+..#06'5 UQ
DTG WPC OQPVWTC FG QTQ DNCPEQ FG M
™{™ 14+)+0#. 5146+,# &' $4+..#06'5 %10 %7#4<1 415# ->ˆ`>\ {ää å
UQDTG WPC OQPVWTC FG QTQ TQUC FG M 2GUQ VQVCN FG NQU DTKNNCP
VGU EV CRTQZ (KTOCFQ )KQXCPPK (GTTCTKU ™ÈÓ 5146+,# %10 #/#6+56# %'064#. (#%'6#&# ; 674/#
->ˆ`>\ Ó°äxä å .+0#5 UQDTG WPC OQPVWTC FG QTQ TQUC FG M
->ˆ`>\ {£x å
™xä %10,7061 &' 2'0&+'06'5 ; 5146+,# &' $4+..#06'5
EQP OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG M ™ÈÎ #0%*# 5146+,# %10 %#$7,10'5 &' 2+'&4#5 5'/+
->ˆ`>\ Îää å 24'%+15#5 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M (KTOCFC
$KDKIK %NKQ
™x£ %10,7061 &' %1.)#06' ; 5146+,# &' $4+..#06'5 ->ˆ`>\ ÈÇx å
37' 57/#0 70 616#. &' %6 #241: /QPVWTC FG QTQ
DNCPEQ FG M ™È{ 27.5'4# &' #/#6+56#5 18#.'5 ; 2.#%# &' $4+..#0
->ˆ`>\ {ää å 6'5 UQDTG WPC OQPVWTC EKTEWNCT FG QTQ DNCPEQ FG M (KTOCFQ
6GVTC
™xÓ $41%*' 2'< &' /#&42'4.# %10 <#(+41 ; $4+..#0 ->ˆ`>\ Ó°äää å
6'5 /QPVWTC FG QTQ DNCPEQ FG M
->ˆ`>\ £Îx å

68



™Èx ':37+5+6# )#4)#06+..# %10 (4'06' %7#,#&1 &' ™ÇÇ '.')#06' 5146+,# %10 70 $'..1 47$© &' %6
$4+..#06'5 ; .)4+/#5 &' 47$© 6#..# 2'4# %#.+&#& ': #241: (.#037'#&# 214 $4+..#06'5 ; &+#/#06'5 6#..#
64# $GNNQ FKUGÍQ CN EWGNNQ TGCNK\CFQ UQDTG WPC OQPVWTC FG QTQ /#437+55' EQP WP RGUQ VQVCN FG EV CRTQZ /QPVWTC FG QTQ
COCTKNNQ FG M EQP GN HTGPVG GP QTQ DNCPEQ 2KG\C FG CNVC LQ[GTÉC DNCPEQ FG M
->ˆ`>\ £°™ää å

->ˆ`>\ £x°äää å ™Çn '.')#06' 5146+,# &' $4+..#06'5 UQDTG WPC OQPVWTC
CPEJC FG QTQ COCTKNNQ FG -
™ÈÈ ':37+5+6# )#4)#06+..# #46+%7.#&# &'%14#&# ->ˆ`>\ £°{ää å
%10 &+#/#06'5 37' 57/#0 70 616#. &' %6 /QPVWTC
GP QTQ COCTKNNQ FG M ™Ç™ '.')#06'5 2'0&+'06'5 '56+.1 #46 &'%¯ &' $4+
..#06'5 %10 47$©'5 &' )4#0 %#.+&#& 2KG\C FG ITCP DG
->ˆ`>\ Ó°äÓx å NNG\C HQTOCFC RQT TWDÉGU EQP WP RGUQ FG EV CRTQZ [ DTKNNCP
VGU FG EV CRTQZ /QPVWTC FG QTQ DNCPEQ FG M
™ÈÇ 2'37'­1 51.+6#4+1 &' %6 #241: '0 /10674#
&' )#44#5 '0 141 #/#4+..1 &' - ->ˆ`>\ {°Óää å
->ˆ`>\ xää å
™nä 14+)+0#. 5146+,# &' $4+..#06'5 FG QTKIKPCNGU HQTOCU
™Èn ':37+5+615 2'0&+'06'5 %*#0&'.+'4' &' $4+..#0 IGQOÅVTKECU EQP WP RGUQ GP DTKNNCPVGU FG EV CRTQZ 5QDTG
6'5 ; ¯2#.15 6#..# %#$7,¯0 UQDTG WPC OQPVWTC FG QTQ WPC OQPVWTC FG QTQ DNCPEQ FG M
DNCPEQ FG M ->ˆ`>\ £°Ç™ä å
->ˆ`>\ Ó°£ää å
™n£ &'.+%#&# %#,+6# 2#56+..'41 '0 141 #/#4+..1 &'
™È™ 2'0&+'06'5 51$4' 70# /10674# &' 141 #/#4+..1 - DGNNCOGPVG EKPEGNCFC EQP OQVKXQU HNQTCNGU [ RWP\QPGU
; $.#0%1 &' -
->ˆ`>\ £nä å

™Çä 5146+,# #0%*# 51$4' 70# /10674# '0 141 #/# ->ˆ`>\ £°Èää å
4+..1 &' -
->ˆ`>\ Óää å ™nÓ p<'0+6*q 4'.1, &' 27.5'4# 2#4# 5'­14# '0 141
#/#4+..1 &' - /18+/+'061 /'%0+%1 /#07#. '5
™Ç£ ':37+5+615 2'0&+'06'5 &' 2'4.# /#$' '0/#4%# ('4# '0 141 #/#4+..1 %10 07/'4#%+¯0 # 64#<15
&15 '0 70# /10674# &' 141 #/#4+..1 &' - #2.+%#&15
->ˆ`>\ £°Óää å
->ˆ`>\ {ää å
™nÎ /'&+# #.+#0<# &' $4+..#06'5 37' 5+/#0 70 616#.
™ÇÓ '.')#06'5 2'0&+'06'5 &' $4+..#06'5 &' )4#0 %# &' %6 #241: /QPVWTC FG QTQ COCTKNNQ FG M
.+&#& EQP WP RGUQ VQVCN FG EV CRTQZ 5QDTG WPC OQPVWTC
FG QTQ DNCPEQ FG M ->ˆ`>\ {ää å
->ˆ`>\ ΰÇxä å
™n{ 51.+6#4+1 %10 70 $4+..#06' &' %6 #241: /QP
™ÇÎ 14+)+0#. 5146+,# (14/#&# 214 70# $'..# #)7# VWTC GP QTQ COCTKNNQ FG M
/#4+0# 6#..# 2'4# ; $4+..#06'5 '0 &')4#&¥ /QPVWTC ->ˆ`>\ Îää å
FG QTQ COCTKNNQ FG M
->ˆ`>\ nää å ™nx 5146+,# &1$.' %10 &15 %'06415 &' $4+..#06'5
'0/#4%#&15 '0 141 $.#0%1 /QPVWTC GP QTQ COCTKNNQ FG
™Ç{ #0%*# 5146+,# #­15 &' $4+..#06'5 &'%14#&# M 2KG\C RWP\QPCFC
%10 47$©'5 %#.+$4#&15 %#.+&#& ':64# /QPVWTC GP QTQ ->ˆ`>\ {xä å
COCTKNNQ FG M
->ˆ`>\ £°™ää å ™nÈ ':37+5+6# 27.5'4# &' $4+..#06'5 &' EVU CRTQZ
UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
™Çx 5146+,# (.14 &' 47$©'5 ; $4+..#06'5 %10 70 $'..1 ->ˆ`>\ Ç°{xä å
47$© 6#..# %14#<¯0 %'064#. UQDTG WPC OQPVWTC FG QTQ
COCTKNNQ [ DNCPEQ FG M ™nÇ /1&'40# 27.5'4# &' '5.#$10'5 '0 %'4/+%# 0'
->ˆ`>\ £°£xä å )4# ; 141 #/#4+..1 &' - (KTOCFQ 1TQVGEJ

™ÇÈ &'.+%#&1 $1.5+61 '0 141 #/#4+..1 /#6' &' - ->ˆ`>\ £°Çxä å
EQP VTCDCLQ IWKNNQSWÅ [ RWP\QPGU GP NC DQSWKNNC

->ˆ`>\ £°äää å

70



™nn ':37+5+6# )#4)#06+..# &' $4+..#06'5 &' )4#0 %# ™™È 5146+,# #0%*# %10 %#.#&1 &' &+5'­1 (.14#. ;
.+&#& %10 70 2'51 616#. &' %6 #241: %1.14 ) $4+..#06'5 /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\QPCFC
$GNNQ FKUGÍQ FG UKPWQUQU GUNCDQPGU EWCLCFQU FG DTKNNCPVGU UQDTG
WPC OQPVWTC C OQFQ FG ECFGPGVC TGCNK\CFC GP QTQ DNCPEQ FG ->ˆ`>\ ÎÈä å
M
->ˆ`>\ ÓΰÇxä å ™™Ç '.')#06'5 2'0&+'06'5 &' $4+..#06'5 ; '5/'4#.
&#5 C OQFQ FG RCIQFC $GNNQU TQUGVQPGU FG N½ITKOCU FG GU
™n™ '.')#06' 27.5'4# 4+)+&# &' 2'4.#5 6#*+6+ %*1%1 OGTCNFCU QTNCFCU RQT DTKNNCPVGU SWG ECGP GP ECUECFC UQDTG WPC
.#6' %#.+&#& ':64# 214 57 +06'051 14+'06' ; *1/1 OQPVWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV
)¥0'1 %1.14 5'2#4#&#5 214 %7'06#5 &' $4+..#06'5 CRTQZ 2GUQ VQVCN FG NCU GUOGTCNFCU EV CRTQZ
UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M (KTOCFQ ) 8GTFK
->ˆ`>\ x°™ää å

->ˆ`>\ x°äää å ™™n $'..1 $41%*' .#<1 &' $4+..#06'5 $.#0%15 ; ;'
..19 &' )4#0 %#.+&#& 'ZSWKUKVQ VTCDCLQ EWCLCFQ FG DTKNNCP
™™ä '.')#06' 5146+,# (.14 &' #/#6+56#5 ; $4+..#06'5 VGU UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M
FG ITCP TGCNKUOQ [ DGNNG\C /QPVWTC FG QTQ TQUC FG M (KTOCFC ->ˆ`>\ n°äää å
) 8GTFK
->ˆ`>\ Ó°£Óx å ™™™ 5146+,# %10 (4'06' 4'%6#0)7.#4 %7#,#&1 &'
$4+..#06'5 %#.+&#& ':64# /QPVWTC GP QTQ COCTKNNQ FG M
™™£ '56+.+<#&1 $41%*' (.14 &' $4+..#06'5 &'%14#&1 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
214 70# $'..# 2'4.# 6#*+6+ 6+21 2'4# &' )4#0 2'4('% ->ˆ`>\ ™ää å
%+¯0 ' +06'051 14+'06' ; 2+56+.15 &' &+#/#06'5 6#..#
$#)7'66' 2KG\C FG CNVC LQ[GTÉC FG ITCP ECNKFCF 5QDTG WPC £°äää '.')#06' $4#<#.'6' 4+)+&1 &' $4+..#06'5 FG ITCP
OQPVWTC FG QTQ DNCPEQ FG M ECNKFCF FG HQTOCU IGQOÅVTKECU QPFWNCFCU UQDTG WPC KORQTVCPVG
->ˆ`>\ x°xää å OQPVWTC GP QTQ DNCPEQ FG M 2KG\C FG CNVC LQ[GTÉC

™™Ó ':37+5+615 2'0&+'06'5 '0 (14/# &' #.#5 %10 $4+ ->ˆ`>\ Ç°xää å
..#06'5 &'%14#&15 %10 2'4.# #7564#.+#0# FG ITCP
ECNKFCF 5QDTG WPC OQPVWTC GP QTQ COCTKNNQ FG - £°ää£ $4+..#06' &' %6 274'<# (.#9.'55 %1.14 *
6#..# $7'0# %QP EGTVKHKECFQ )+#
->ˆ`>\ ΰnää å ->ˆ`>\ £x°äää å

™™Î '.')#06'5 2'0&+'06'5 &' 14+)+0#. &+5'­1 %10 £°ääÓ %.5+%# 5146+,# %10 )4#0 2'4.# #7564#.+#0#
$4+..#06'5 ; <#(+415 #/#4+..15 %#.+&#& ':64# 5QDTG &' / &' &+/'641 &' +06'051 14+'06' 14.#&# 214
WPC OQPVWTC GP QTQ COCTKNNQ FG - (+01 /#4%1 10&7.#&1 &' $4+..#06'5 UQDTG WPC OQPVW
->ˆ`>\ x°äää å TC FG QTQ DNCPEQ FG M
->ˆ`>\ £°Óxä å

™™{ '.')#06'5 2'0&+'06'5 %10 2'4.#5 #7564#.+#0#5 £°ääÎ 14+)+0#.'5 2'0&+'06'5 &' <#(+415 #/#4+..15 ;
)1.&'0 37' 2'0&'0 &' 70# *+.'4# &' $4+..#06'5 5Q $4+..#06'5 '0 (14/# &' '564'..#5 UQDTG WPC OQPVWTC FG
DTG WPC OQPVWTC FG QTQ DNCPEQ FG M QTQ COCTKNNQ FG -
->ˆ`>\ ΰÓää å ->ˆ`>\ ΰäää å

™™x '.')#06' %1..#4 &' 2'4.#5 6#*+6+ %*1%1.#6' £°ää{° 27.5'4# &' 2'4.#5 6#*+6+ %*1%1.#6' EQP DTQEJG
%#.+&#& ':64# 214 57 *1/1)¥0'1 %1.14 ' +06'051 CTIQNNC GP QTQ COCTKNNQ FG M (KTOCFQ ) 8GTFK
14+'06' 5'2#4#&#5 214 %7'06#5 &' $4+..#06'5 SWG UW ->ˆ`>\ £°™™x å
OCP WP VQVCN FG EV CRTQZ /QPVWTC FG QTQ DNCPEQ FG M
£°ääx 27.5'4# &' 2'4.#5 6#*+6+ EQP DTQEJG CTIQNNC GP QTQ
->ˆ`>\ È°äää å DNCPEQ FG M (KTOCFQ ) 8GTFK
->ˆ`>\ £°™™x å

72



£°ääÈ +/2146#06' $41%*' &' 47$©'5 $4+..#06'5 ; &+# £°ä£Ó° '.')#06' 5146+,# %10 6#0<#0+6# (.#037'#&#
/#06'5 6#..# %#44¥ ; 64#2'%+1 %#.+&#& ':64# 214 57 214 &+#/#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG -
%1.14 $.#0%1 ; 274'<# 2KG\C FG CNVC LQ[GTÉC EQP FKUGÍQ
XGIGVCN TGCNK\CFQ UQDTG WPC OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG ->ˆ`>\ £°ä™ä å
M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
->ˆ`>\ x°Çxä å £°ä£Î° 2'0&+'06'5 *1,#5 &' <#(+415 415#5 %10 6#..1
&' $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M
£°ääÇ '.')#06'5 2'0&+'06'5 &' $4+..#06'5 %10 $'
..15 %#$7,10'5 &' 6#0<#0+6# ECNKFCF GZVTC 2KG\C FG CNVC ->ˆ`>\ ™{ä å
LQ[GTÉC HQTOCFC RQT VCP\CPKVCU FG KPVGPUQ EQNQT WPKFQU RQT TQ
UGVQPGU FG DTKNNCPVGU UQDTG WPC OQPVWTC FG QTQ DNCPEQ FG M £°ä£{° 5146+,# #0%*# %10 <#(+41 415# %'064#. 51$4'
$4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
->ˆ`>\ È°äää å ->ˆ`>\ £°£Óx å

£°ään $'..# 5146+,# (.14 &' 612#%+15 &' %1.14'5 ; 2¥ £°ä£x° &'.+%#&15 2'0&+'06'5 &' $4+..#06'5 %10 $'..#
6#.15 &' <#(+415 &+527'5615 '0 &')4#&¥ &'%14#&15 .)4+/# &' 6#0<#0+6# &' )4#0 %#.+&#& UQDTG WPC OQP
%10 $4+..#06'5 /QPVWTC FG QTQ DNCPEQ FG M (KTOCFQ )KQ VWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ
XCPPK (GTTCTKU
->ˆ`>\ £°xää å ->ˆ`>\ Ó°Óää å

£°ää™ $'..# 5146+,# (.14 &' 612#%+15 &' %1.14'5 %10 £°ä£È° 2'0&+'06'5 .#4)15 &' $4+..#06'5 %10 70 2'51
2¥6#.15 &' <#(+415 &+527'5615 '0 &')4#&¥ ; $4+..#0 616#. &' %6 #241: 1TKIKPCN FKUGÍQ C OQFQ FG HNQT ECNC
6'5 /QPVWTC FG QTQ TQUC FG M (KTOCFQ )KQXCPPK (GTTCTKU FQ EQP DTKNNCPVGU GP ICTTCU FG OC[QT VCOCÍQ UQDTG WPC OQPVWTC
FG QTQ DNCPEQ FG M
->ˆ`>\ Ó°äää å ->ˆ`>\ È°äää å

£°ä£ä° ':37+5+6# )#4)#06+..# &' $4+..#06'5 ; %#$7,1 £°ä£Ç° 5146+,# %10 70# $'..# 6#0<#0+6# &' %6
0'5 &' 6#0<#0+6#5 %#.+&#& ':64# 214 57 *1/1)¥ #241: 14.#&# 214 $4+..#06'5 UQDTG WPC OQPVWTC FG IC
0'1 %1.14 ; 6#/#­1 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG TTCU GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU DTKNNCPVGU EV
WPC OQPVWTC FG HKPCU ICTTCU FG QTQ DNCPEQ FG M 2GUQ VQVCN FG CRTQZ
NQU DTKNNCPVGU EV CRTQZ ->ˆ`>\ £°ÓÇx å
->ˆ`>\ Î{°äää å

£°ä££° ':37+5+61 $41%*' %.+2 &' $4+..#06'5 4'/#6#&1 £°ä£n° $'..1 $4#<#.'6' &' $4+..#06'5 ; %#$7,10'5 &'
214 47$©'5 0#674#.'5 6#..# 18#. &' *1/1)¥0'1 %1 6#0<#0+6#5 %#.+&#& ':64# 214 57 6#/#­1 ; *1/1
.14 2KG\C FG ITCP DGNNG\C [ ECNKFCF TGCNK\CFC UQDTG WPC OQP )¥0'1 %1.14 WPKFQU RQT TQUGVQPGU FG DTKNNCPVGU SWG UWOCP
VWTC FG QTQ DNCPEQ FG M 2GUQ VQVCN FG NQU FKCOCPVGU EV WP VQVCN FG EV CRTQZ 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG WPC
CRTQZ %QP EGTVKHKECFQ )%5 OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG M
->ˆ`>\ ΰäää å ->ˆ`>\ £Ó°Çää å

74



£°ä£™ )4#0&'5 2'0&+'06'5 %4+1..#5 &' $4+..#06'5 %# £°äÓÈ '.')#06'5 2'0&+'06'5 .#4)15 &' 47$©'5 ; $4+
.+&#& ':64# 37' 57/#0 70 616#. &' %6 #241: 5QDTG ..#06'5 &' ':37+5+61 &+5'­1 %#.+&#& ':64# HQTOCFQU
WPC DGNNC OQPVWTC SWG EQODKPC GN QTQ DNCPEQ [ COCTKNNQ FG M RQT WP TQUGVÏP FG TWDÉ FGN SWG RGPFGP VTGU JKNGTCU FG TWDÉGU [
DTKNNCPVGU /QPVWTC FG QTQ DNCPEQ FG -
->ˆ`>\ n°xää å

->ˆ`>\ ΰnää å

£°äÓä '.')#06'5 2'0&+'06'5 &' 47$©'5 ; $4+..#06'5 £°äÓÇ° 2'0&+'06'5 &' $4+..#06'5 &' ; %6 )4#0
%N½UKEQ FKUGÍQ TQUGVÏP FG DTKNNCPVGU FGN SWG RGPFGP WP TQUGVÏP %#.+&#& 214 57 %1.14 ; 274'<# 612 %4;56#. %4;56#.
OGPQT FG TWDÉ EGPVTCN [ DTKNNCPVGU /QPVWTC FG QTQ COCTKNNQ FG ; 885 /QPVWTC GP QTQ DNCPEQ FG M %QP EGTVKHKECFQU FGN +)'
M 2GUQ VQVCN FG NQU TWDÉGU EV CRTQZ 2GUQ VQVCN FG NQU DTK FGN CÍQ
NNCPVGU EV CRTQZ
->ˆ`>\ ΰäää å ->ˆ`>\ Ó°xää å

£°äÓ£ ':37+5+61 %1.)#06' %10 70 &+#/#06' 6#..# £°äÓn #0%*15 2'0&+'06'5 %4+1..#5 &' $4+..#06'5 %10
2'4# &' %6 #241: %1.14 ) 14.#&1 214 &+#/#0 (.14 &' 47$©'5 ; '5/'4#.&#5 /QPVWTC FG QTQ COCTKNNQ FG
6'5 6#..# $4+..#06'5 ; %#44¥ /QPVWTC [ ECFGPC GP QTQ M 2GUQ VQVCN FG NQU DTKNNCPVGU EV CRTQZ 2GUQ VQVCN FG NCU
DNCPEQ FG M %QP EGTVKHKECFQ FGN +)' RKGFTCU FG EQNQT EV CRTQZ
->ˆ`>\ È°äää å

£°äÓÓ 51.+6#4+1 %10 70 $4+..#06' &' %6 #241: %1 ->ˆ`>\ Ó°Óää å
.14 * ; 274'<# 85 /10674# &' )#44#5 '0 141 $.#0
%1 ; #/#4+..1 &' - %10 %'46+(+%#&1 '). £°äә° 51.+6#4+1 &' $4+..#06' &' %6 #241: /QPVWTC
GP QTQ DNCPEQ FG M
->ˆ`>\ x°äää å ->ˆ`>\ £°xää å

£°äÓΰ '.')#06' 51.+6#4+1 %10 70 $4+..#06' &' %6 £°äÎä° 5146+,# 67 ;1 %10 $4+..#06'5 5QDTG WPC OQPVWTC
#241: %10 $7'0 %1.14 /QPVWTC FG ICTTCU GP QTQ DNCPEQ FG QTQ DNCPEQ FG -
FG M ->ˆ`>\ £°Çää å
->ˆ`>\ {°xää å

£°äÓ{ +/2146#06' )#4)#06+..# &' $4+..#06'5 ; 47$©'5 £°äΣ° 51.+6#4+1 %10 70 $4+..#06' %'064#. &' %6
6#..# 18#. &' $'..#5 (14/#5 10&7.#&#5 %#.+&#& ': #241: UQDTG WPC OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG M
64# %QP WP RGUQ VQVCN FG NQU DTKNNCPVGU FG EV CRTQZ (QTOCFQ
RQT WPC TKXKGTG FG DTKNNCPVGU FG NC SWG RGPFGP TWDÉGU EQP QPFCU ->ˆ`>\ Çää å
FG DTKNNCPVGU 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG WPC OQPVWTC
CTVKEWNCFC FG ICTTCU GP QTQ COCTKNNQ FG M £°äÎÓ ':37+5+61 $41%*' )1.10&4+0# &' $4+..#06'5
->ˆ`>\ xn°äää å %#.+&#& ':64# 2KG\C FG ITCP TGCNKUOQ EQP EWGTRQ EWCLCFQ FG
DTKNNCPVGU EQP QLQ FG TWDÉ UQDTG QTQ COCTKNNQ [ CNCU FG DTKNNCPVGU
£°äÓx ':37+5+615 2'0&+'06'5 &' $4+..#06'5 %#.+&#& GP WPC OQPVWTC FG QTQ DNCPEQ FG M
':64# %10 70 2'51 616#. &' %6 #241: &+527'5615
# /1&1 &' %#5%#&# 2KG\C FG CNVC LQ[GTÉC TGCNK\CFC UQDTG ->ˆ`>\ {°Óxä å
WPC OQPVWTC FG ICTTCU GP QTQ DNCPEQ FG M
->ˆ`>\ È°xää å

76



£°äÎΰ $'..15 2'0&+'06'5 %10 <#(+41 )4#$#&1 '56+.1 £°ä{Ó° $'..15 2'0&+'06'5 .#4)15 &' <#(+415 14.#&15
(.14#. $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG 214 $4+..#06'5 %#.+&#& ':64# 2KG\C FG CNVC LQ[GTÉC HQTOC
- FC RQT WP VTÅDQN FG TQUGVQPGU FG \CHK QU FG NQU SWG RGPFG WP
->ˆ`>\ £°xää å ITCP TQUGVÏP 5QDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M

£°äÎ{ '.')#06'5 2'0&+'06'5 &' $1.+6#5 &' 47$©'5 ; ->ˆ`>\ ΰäää å
$4+..#06'5 UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG -
£°ä{ΰ 5146+,# #0%*# &' '5/#.6' 8'4&' ; .©0'#5 &' $4+
->ˆ`>\ Ó°xää å ..#06'5 '0 <+) <#) /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C
RWP\QPCFC
£°äÎx° '.')#06' %1.)#06' 5#.2+%#&1 214 $4+..#06'5 ->ˆ`>\ Σx å
UQDTG WPC OQPVWTC ECNCFC [ ECFGPC GP QTQ COCTKNNQ FG M
£°ä{{° )4#0&'5 2'0&+'06'5 %4+1..#5 &' %7'06#5 '5(¥
->ˆ`>\ Ó°nää å 4+%#5 &' <#(+415 '5/'4#.&#5 ; 47$©'5 %10 2'4.#5 %7.
6+8#&#5 ; &+#/#06'5 6#..# $#)7'66' 5QDTG WPC OQPVWTC
£°äÎÈ° $'..# 27.5'4# &' '.')#06' &+5'­1 %10 $4+..#0 FG QTQ COCTKNNQ FG -
6'5 %#.+&#& ':64# UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M ->ˆ`>\ Ó°£ää å

->ˆ`>\ ΰnää å £°ä{x° 14+)+0#.'5 )'/'.15 '564+$15 %10 %#$7,10 &'
<#(+41 UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG M
£°äÎÇ° '.')#06' 27.5'4# &' $4+..#06'5 %#.+&#& ':64#
&+5'­1 )#..10#&1 UQDTG WPC OQPVWTC FG QTQ COCTKNNQ FG ->ˆ`>\ nxä å
-
->ˆ`>\ x°xää å £°ä{È° 5146+,# &' $4+.#06'5 %#.+&#& ':64# ; '5/#.6'
8'4&' ; #<7. /QPVWTC GP QTQ COCTKNNQ FG M 2KG\C RWP\Q
£°äÎn° '.')#06'5 2'0&+'06'5 &' .)4+/#5 &' 674/#.+ PCFC
0#5 37' 2'0&'0 &' 70 %#$7,¯0 14.#&1 214 415'6¯0 ->ˆ`>\ ÎÎä å
&' $4+..#06'5 /QPVWTC FG QTQ COCTKNNQ FG M 2GUQ VQVCN FG
NQU DTKNNCPVGU EV CRTQZ £°ä{Ç° $'..15 2'0&+'06'5 %10 )4#0&'5 %#$7,10'5 &'
->ˆ`>\ £°Èää å 674/#.+0#5 8'4&'5 51$4' 70# /10674# '0 '5/#.6'
$4+..#06'5 TGCNK\CFQ GP QTQ COCTKNNQ FG M
£°äΙ° ':37+5+6# 5146+,# %10 %#$7,10'5 &' 47$© ; $4+
..#06'5 %#.+&#& ':64# 1TKIKPCN FKUGÍQ TGCNK\CFQ UQDTG WPC ->ˆ`>\ {°äää å
KORQTVCPVG OQPVWTC GP QTQ DNCPEQ [ COCTKNNQ FG - FGEQTCFC
RQT DTKNNCPVGU £°ä{n° '.')#06'5 2'0&+'06'5 %10 %#$7,10'5 &' '5
->ˆ`>\ £°nxä å /'4#.&#5 ; $4+..#06'5 UQDTG WPC OQPVWTC ICNNQPCFC GP QTQ
COCTKNNQ FG -
£°ä{ä° 14+)+0#. 5146+,# &'%14#&# %10 %#$7,10'5 &'
'5/'4#.&#5 ; $4+..#06'5 UQDTG WPC OQPVWTC FG QTQ COC ->ˆ`>\ ΰÈää å
TKNNQ FG -
->ˆ`>\ £°Óää å £°ä{™ 5146+,# %10 $4+..#06'5 ; 2'4+&1615 UQDTG WPC
OQPVWTC FG QTQ COCTKNNQ FG M
£°ä{£° 14+)+0#. )#4)#06+..# &' %7'06#5 '5(¥4+%#5 &'
141 #/#4+..1 &' - &'%14#&# 214 %#$7,10'5 &' ->ˆ`>\ ™ää å
47$©'5 ; 5#.2+%#&#5 214 $4+..#06'5 2KG\C FG ITCP FKUGÍQ
EQP FKUGÍQ C OQFQ FG UCWVQKT [ FGVCNNG EGPVTCN TQUGVÏP FG DTK
NNCPVGU EQP TWDÉ ECNKFCF GZVTC /QPVWTC FG QTQ COCTKNNQ FG M

->ˆ`>\ n°xää å



78



£°äxä $4+..#06' &' %6 %1.14 ( ; 274'<# 2 'P UW GU £°äxÈ° '.')#06' )#4)#06+..# 6766+ (4766+ &' #.6# %#
VWEJG EQP EGTVKHKECFQ FGN +)' P– .+&#& 214 57 %1.14 ; 64#052#4'0%+# %1/27'56# 214
->ˆ`>\ Îxä å %#$7,10'5 &' <#(+415 47$©'5 ; '5/'4#.&#5 6#..#&15
%10 14.#5 &' $4+..#06'5 /QPVWTC GP QTQ DNCPEQ FG M
£°äx£ $4+..#06' &' %6 %1.14 ) ; 274'<# 85 'P UW 2GUQ VQVCN FG NCU RKGFTCU FG EQNQT EV CRTQZ 2GUQ VQVCN FG NQU
GUVWEJG EQP EGTVKHKECFQ FGN +)' P– DTKNNCPVGU EV CRTQZ
->ˆ`>\ Îxä å ->ˆ`>\ Îä°äää å

£°äxÓ° $4+..#06' &' %6 %1.14 ) ; 274'<# 5+ 'P UW £°äxÇ° 14+)+0#.'5 2'0&+'06'5 &' '5/'4#.&#5 6#..# %1
GUVWEJG EQP EGTVKHKECFQ FGN +)' P– ,©0 &' *1/1)¥0'1 %1.14 14.#&15 &' 47$©'5 6#..#
->ˆ`>\ Îxä å 2'4# .KIGTC OQPVWTC GP QTQ DNCPEQ FG M 2GUQ VQVCN FG NCU
RKGFTCU FG EQNQT EV CRTQZ
£°äxΰ $4+..#06' &' %6 %1.14 ( ; 274'<# 5+ 'P UW ->ˆ`>\ £x°äää å
GUVWEJG EQP EGTVKHKECFQ FGN +)' P–
->ˆ`>\ ÎÇx å

£°äx{° $4+..#06' &' %6 %1.14 ( ; 274'<# 5+ 'P UW £°äxn° ':37+5+6# 27.5'4# +5#$'.+0# %10 &+#/#06'5 6#
GUVWEJG [ EGTVKHKECFQ FGN +)' P– ..# #06+)7# HQTOCFC RQT WPC DGNNC NC\CFC EQP WP FKCOCPVG
->ˆ`>\ ÎÇx å EGPVTCN FG OC[QT VCOCÍQ 2KG\C FG ITCP DGNNG\C UQDTG WPC OQP
VWTC FG QTQ COCTKNNQ EKPEGNCFQ FG M
£°äxx° $4+..#06' &' %6 %1.14 ) ; 274'<# 2 'P UW
GUVWEJG [ EGTVKHKECFQ FGN +)' P– ->ˆ`>\ Ó°Óxä å
->ˆ`>\ Îxä å

/RWHV

80



£°äx™° ':%'2%+10#. %1..#4 &' &+#/#06'5 6#..# 2'4# ; $4+..#06'
%#.+&#& ':64# %10 70 2'51 616#. &' %6 #241: ':37+5+61 &+
5'­1 5+)7+'0&1 /1&'.15 $'..' '2137' EQP NKIGTC OQPVWTC GP QTQ
DNCPEQ FG M


->ˆ`>\ £ää°äää å

£°äÈä° ':37+5+6# 5146+,# %10 70 <#(+41 %'064#. &' %6 #241:
6#..# '5/'4#.&# 4'%6#0)7.#4 .+)'4#/'06' #.#4)#&# &'%14#
&1 # #/$15 .#&15 214 1%*1 &+#/#06'5 6#..# 24+0%'5# %#.+&#&
':64# %10 70 2'51 616#. &' %6 #241: /QPVWTC FG ICTTCU GP QTQ
DNCPEQ FG M

->ˆ`>\ £ä°äää å

82



&2&+(6

-PUF "
+"(6"3 ,'
'UVG ,CIWCT :- GU WPQ FG NQU GLGORNCTGU SWG UG HCDTKECTQP FGN OQFGNQ 4QCFUVGT RQT ,CIWCT GPVTG s
%N½UKEQ FGRQTVKXQ SWG RTGUGPVC ITCPFGU OGLQTCU TGURGEVQ C UW OQFGNQ CPVGTKQT O½U GURCEKQ GP GN KPVGTKQT HTGPQU
OGLQTCFQU OC[QT TGEQTTKFQ FG NC UWURGPUKÏP [ COQTVKIWCFQTGU VGNGUEÏRKEQU 5G GPEWGPVTC GP RGTHGEVQ GUVCFQ FG
OCTEJC [ RTGRCTCFQ RCTC EQPFWEKT EWCNSWKGT FKUVCPEKC
&KURQPKDNG GN FQUUKGT HQVQIT½HKEQ FG VQFQ GN R QEGUQ FG TGUVCWTCEKÏP

->ˆ`>\ £ää°äää å

84

-/", č
6

1 "

'N KORTGUKQPCPVG ,CIWCT :- GU WP EQEJG EN½UKEQ FGRQTVKXQ SWG
QHTGEKÏ OWEJCU ECTCEVGTÉUVKECU PWGXCU [ OGLQTCU TGURGEVQ CN OQFGNQ
CPVGTKQT GN :- 'N :- UG QHTGEKÏ GP (KZGF JGCF %QWRG
(*%
&TQR *GCF %QWRG
&*% [ 4QCFUVGT EQP UWVKNGU ECODKQU GP NC ECTTQ
EGTÉC

5G JK\Q O½U EÏOQFQ RCTC NQU EQPFWEVQTGU O½U CNVQU CN OQXGT GN OQ
VQT GN EQTVCHWGIQU [ GN VCDNGTQ RCTC GZRCPFKT GN GURCEKQ VTGU RWNICFCU
5G KPUVCNCTQP FQU DCVGTÉCU FG XQNV WPC GP ECFC CNGTÏP FGNCPVGTQ GP
GN (*% RGTQ NCU &TQR *GCFU [ GN 1RGP 6YQ 5GCVGT VGPÉCP WPC UQNC DC
VGTÉC FG XQNV KPUVCNCFC GP GN CNGTÏP FGN NCFQ FGN RCUCLGTQ #FGO½U
NC ECRQVC [ GN XQNCPVG UG GNGXCTQP

.QU ECODKQU GZVGTKQTGU KPENW[GTQP RCTCEJQSWGU FGNCPVGTQU [ VTCUGTQU
/č
-
"/


O½U UWUVCPEKCNGU EQP CPWNCEKQPGU G KPVGTOKVGPVGU UQDTG GN RCTCEJQ >ÀV> ,CIWCT

SWGU FGNCPVGTQ .C TGLKNNC RGTOCPGEKÏ FGN OKUOQ VCOCÍQ RGTQ UG EQP œ`iœ :- 4QCFUVGT
XKTVKÏ GP WPC WPKFCF FG HWPFKEKÏP FG WPC UQNC RKG\C EQP OGPQU DCTTCU

XGTVKECNGU O½U CPEJCU 蚜

.C KPUKIPKC FG ,CIWCT UG KPEQTRQTÏ C NC RCTTKNNC 7PC VKTC FG CECDCFQ
ˆˆ˜`À>`> /QVQT EKNKPFTQU EE VQVCNOGPVG QTKIKPCN [
ETQOCFC EQTTÉC C NQ NCTIQ FGN EGPVTQ FGN ECRÏ [ NC VCRC FG NC DQVC 7P TGEVKHKECFQ
GODNGOC GP NC VCRC FGN OCNGVGTQ EQPVGPÉC NCU RCNCDTCU p9KPPGT .G
>L>œÃ EX
/CPU s q


>> `i V>“LˆœÃ /CPWCN

.C OC[QTÉC FG NQU :- KORQTVCFQU C NQU 'UVCFQU 7PKFQU VGPÉCP TWG *>«iià *QOQNQICFQ [ OCVTKEWNCFQ GP 'URCÍC EQOQ JKUVÏ
FCU FG CNCODTG .QU CWVQOÏXKNGU EQP NCU TWGFCU FG FKUEQ GUV½PFCT TKEQ +68 CN FÉC
VGPÉCP HCNFCU FG IWCTFCDCTTQU UQDTG NC CDGTVWTC FG NC TWGFC VTCUGTC


œœÀ 4QLQ QTKIKPCN

'N :- HWG KORWNUCFQ RQT GN OQVQT ,CIWCT :- EQP NCU OQFKHKECEKQPGU ˆœ“iÌÀ>i MO
FG 5' FGN :- SWG GNGXCTQP NC RQVGPEKC GURGEKHKECFC FG DJR C
DJR DTWVC C TRO 'P GN :- UG EQPXKTVKÏ GP GN RTKOGT
œ“LÕÃ̈Li )CUQNKPC
CWVQOÏXKN FGRQTVKXQ ,CIWCT GP QHTGEGTUG EQP VTCPUOKUKÏP CWVQO½VKEC
ÃÌ>`œ `i v՘Vˆœ˜>“ˆi˜Ìœ\ GN XGJÉEWNQ CTTCPEC DKGP [ HWP

EKQPC RGTHGEVCOGPVG 'UVG XGJÉEWNQ RWGFG UGT XKUVQ [ TGEQIK
'N 4QCFUVGT VGPÉC WPC ECOKUGVC FG NQPC NKXKCPC SWG UG RNKGIC HWGTC FG FQ GP /CFTKF [ RWGFG EQPFWEKT EWCNSWKGT FKUVCPEKC 6CRKEG
NC XKUVC FGVT½U FG NQU CUKGPVQU 'N KPVGTKQT HWG TGEQTVCFQ GP EWGTQ KPENWK TÉC FG RKGN FG EQNQT PGITQ QTKIKPCN 2KGN KORQTVCFC FG '' 77
FQ GN VCDNGTQ 'N :- VKGPG WP NKGP\Q TGOQXKDNG [ EQTVKPCU NCVGTCNGU 4GUVCWTCEKÏP EQORNGVC EQP CECDCFQ FG GZRQUKEKÏP
FG RN½UVKEQ GP RWGTVCU FG CNGCEKÏP NKIGTC VKRQ DCTEJGVVC

5(/2-(6 021('$6 $%5,*26 %2/626

£°äÈ£ /10'&# 2'515 /',+%#015 GP QTQ COCTKNNQ FG M
->ˆ`>\ nää å
£°äÈÓ /10'&# &' 1%*1 '5%7&15 GP QTQ COCTKNNQ FG M
->ˆ`>\ ™ää å
£°äÈΰ /10'&# %1.)#06' '0 141 #/#4+..1 &' -
->ˆ`>\ £ää å
£°äÈ{° &15 /10'&#5 %1.)#06'5 70# &' '&7#4&1 8++ ; ,14)' 8 'P
QTQ COCTKNNQ FG M
->ˆ`>\ Îää å
£°äÈx° 64'5 /10'&#5 %1.)#06'5 /+)7'. &' %'48#06'5 5##8'&4#
; &15 /10'&#5 41/#0#5 'P QTQ COCTKNNQ FG M
->ˆ`>\ {xä å
£°äÈÈ° 1/')# p)GPGXGq #ÍQU 4GNQL FG RWNUGTC RCTC ECDCNNGTQ EQP ECLC [
DTC\CNGVG GP QTQ COCTKNNQ FG M /QXKOKGPVQ FG EWGTFC OCPWCN 0WOGTCEKÏP
C VTC\QU CRNKECFQU GUHGTC EJCORCIPG [ CIWLCU VKRQ GURCFC 'UHGTC CWZKNKCT C
NCU UGKU SWG EWCPVC NQU UGIWPFQU EQPUVCPVGU
->ˆ`>\ Çxä å
£°äÈÇ° p%'46+0#q 4'.1, &' 27.5'4# 2#4# %#$#..'41 %#,# .#/+0#
&# '0 141 ; $4#<#.'6' '0 141 #/#4+..1 &' - /QXKOKGPVQ OGE½
PKEQ OCPWCN
->ˆ`>\ Óxä å
£°äÈn° +05+)0+# %10/'/14#6+8# )4#0 %47< #. /¥4+61 0#8#. %10
&+56+06+81 $.#0%1 GP QTQ COCTKNNQ FG M [ GUOCNVG EQP RGSWGÍQ FGU
RGTHGEVQ
->ˆ`>\ ™ä å
£°äș° 4'.1, &' 8+#,' p/18#&1q &'52'46#&14 %#4)# /#07#.
%#,# '0 /'6#. .#/+0#&1
->ˆ`>\ Óää å
£°äÇä° %WCVTQ )TCPFGU %TWEGU CN /ÅTKVQ 0CXCN EQP FKUVKPVKXQ DNCPEQ &QU
ITCPFGU [ FQU XGPGTCU FG OGPQT VCOCÍQ
->ˆ`>\ £xä å

86



£°äÇ£° /10'&# ::8 #­15 &' 2#< '0 141 #/#4+ £°änä° 27.5'4# $#4$#&# %10 &15 &+,'5 %1.)#06'5 GP

..1 &' - QTQ COCTKNNQ FG -

->ˆ`>\ £°nää å ->ˆ`>\ {ää å

£°äÇÓ° 27.5'4# &' '5.#$¯0 $#4$#&1 %10 /10'&# %1. £°än£° %#,# &' 4'.1, p1/')#q GP QTQ COCTKNNQ FG -

)#06' GP QTQ COCTKNNQ FG -

->ˆ`>\ £°nää å ->ˆ`>\ £ää å

£°äÇΰ .16' &' 2+'<#5 '0 141 #/#4+..1 &' - £°änÓ° .16' &' &15 2#4'5 &' 2'0&+'06'5 ; 64'5 %1.

)#06'5 '0 141 #/#4+..1 &' -

->ˆ`>\ {ää å ->ˆ`>\ £ää å

£°äÇ{° /10'&# %1.)#06' '0 141 #/#4+..1 &' - £°änΰ %1..#4 .#4)1 &' &15 *+.15 &' 2'4.#5 %7.6+8#

&#5 %10 $41%*' 2'4.# '0 141 #/#4+..1

->ˆ`>\ Îxä å ->ˆ`>\ Óxä å

£°äÇx° .16' &' 2+'<#5 '0 141 #/#4+..1 &' - £°än{° .16' &' 5146+,# 2'4.# /#$¥ ; #.(+.'4 '0 141

#/#4+..1 &' -

->ˆ`>\ {ää å ->ˆ`>\ £ää å

£°äÇÈ° 4'.1, p.+2q %10 %#,# ; $4#<#.'6' 27.5'4# '0 '5 £°änx° .16' &' 2'0&+'06'5 ; %1.)#06' %10 %14#. '0

.#$¯0 $#4$#&1 '0 141 #/#4+..1 &' - 141 #/#4+..1 &' -

->ˆ`>\ {xä å ->ˆ`>\ £ää å

£°äÇÇ° .16' &' 64'5 %1.)#06'5 &15 %47%+(+,15 ; 70# £°änÈ 27.5'4# &' %#$7,10'5 &' .#2+5.<7.+ GP QTQ COC

/'&#..# GP QTQ COCTKNNQ FG - TKNNQ FG -

->ˆ`>\ £ää å ->ˆ`>\ ÓÓx å

£°äÇn° 14+)+0#. $41%*' 2,#41 %10 '5/#.6' GP QTQ £°änÇ° %10,7061 &' 5146+,# ; 2'0&+'06'5 &' 2'4.#5

COCTKNNQ FG - /#$¥ GP QTQ COCTKNNQ FG -

->ˆ`>\ {ää å ->ˆ`>\ £Óä å

£°äǙ° .16' &' &15 5146+,#5 '0 141 #/#4+..1 &' - £°änn° $4#<#.'6' &' 64'5 *+.15 &' 2'4.#5 %7.6+8#&#5
->ˆ`>\ £ää å %10 $41%*' %#$7,¯0 &' )#6# QTQ COCTKNNQ FG -

->ˆ`>\ Óxä å

88



£°än™° .+0)16' &' 141 #/#4+..1 )4 ->ˆ`>\ ΰÓää å


£°ä™ä° .16' &' #44#5 (14/#&1 RQT VTGEG OQPGFCU FG RGUGVCU FG
#NHQPUQ :++ FG NC CEWÍCEKÏP FG [ FG
->ˆ`>\ £°{ää å

£°ä™£° p8#%*'410 %1056#06+0q /1&'.1 18'45'#5 4'.1, &' 27.
5'4# 2#4# 5'­14# %10 %#,# ; $4#<#.'6' '0 141 #/#4+..1 &' -
/18+/+'061 &' %7#4<1 '5('4# $.#0%# %10 07/'4#%+¯0 # 64#
<15 #2.+%#&# # '564'0#4 %10 '567%*' ; 2#2'.'5
->ˆ`>\ ΰÎää å

£°ä™Ó° p41.': 2;56'4 2'42'67#. &#6'q 4'( 4'.1, &' 27.5'4#
2#4# 5'­14# %#,# ; $4#<#.'6' '0 #%'41 ; 141 #/#4+..1 &' -
/QXKOKGPVQ CWVQO½VKEQ 'UHGTC FQTCFC EQP PWOGTCEKÏP C VTC\QU CRNKECFC UG
IWPFGTQ EGPVTCN [ XGPVCPC ECNGPFCTKQ C NCU VTGU
->ˆ`>\ £°Èää å

£°ä™Î° ,15' 41&4©)7'< .15#&# 4'.1, &' $1.5+..1 5#$10'6# 2#4#
&#/# %10 %#,# '5/#.6#&# &'%14#%+¯0 &' (.14'5 ; %#46'.#
/18+/+'061 &' %7'4&# ..#8' /#37+0#4+# (+4/#&# ; 07/'4#&#
%#,# 270<10#&# #.(4'& 564#0& '0 141 #/#4+..1 &' -
%QP NGQPVKPC FG NC ÅRQEC
->ˆ`>\ ΰäää å

£°ä™{° 4'.1, &' $1.5+..1 5#$10'6# 2#4# (4#% p,#')'4 .' %17.
64'q %#,# '0 141 #/#4+..1 /#6' &' - /18+/+'061 /'%0+%1
/#07#. 'UHGTC FQTCFC EQP PWOGTCEKÏP CT½DKIC GP GUOCNVG PGITQ CN KIWCN
SWG NCU CIWLCU
->ˆ`>\ Èää å

90



£°ä™x° +/2146#06' 4'.1, &' 27.5'4# &' %1.'%%+¯0 p2#6'- 2*+.+2
2' )'0'8'q #­15 4'( ':37+5+6# %#,# %7#&4#0)7.#4 &'
141 415# &' - %10 $'..#5 #5#5 &' )16# '0 141 415# )#..1
0#&1 /18+/+'061 /'%0+%1 /#07#. 'UHGTC EQP PWOGTCEKÏP C VTC
\QU CRNKECFQU [ TQOCPC C NCU [ GP QTQ TQUC CN KIWCN SWG NCU GUVKNK\CFCU
CIWLCU 5GIWPFGTQ C NCU UGKU 2WNUGTC FG RKGN PGITC QTKIKPCN EQP JGDKNNC GP QTQ
COCTKNNQ &K½OGVTQ FG NC ECLC Z OO %QP UW GUVWEJG
->ˆ`>\ x°Óxä å

£°ä™È° '.')#06' 4'.1, &' %1.'%%+¯0 p2#6'- 2*+.+22'q #­1
%#,# ; $4#<#.'6' '0 141 #/#4+..1 5#6+0#&1 &' - %#,# 0–
/18+/+'061 0– 4'( , /18+/+'061 /'%0+
%1 /#07#. 'UHGTC PGITC EQP PWOGTCEKÏP C VTC\QU CRNKECFQU GP QTQ CN KIWCN
SWG WPCU GUVKNK\CFCU CIWLCU 5G CFLWPVC EGTVKHKECFQ FG TGXKUKÏP EQORNGVC FGN
TGNQL (GEJC
->ˆ`>\ {°Óxä å

£°ä™Ç° +/2146#06' 4'.1, &' 27.5'4# &' %1.'%%+¯0 p2#6'- 2*+.+2
2' %Q )'0'8'q #­1 4'( %#,# '0 141 #/#4+..1 &' -
0– 0– /18+/+'061 0– %#,# ; /#37+0#4+# (+4/#&#
%#.+$4'  /18+/'061 /'%0+%1 /#07#. 5QHKU KECFC GUHGTC ITKU
EQP PWOGTCEKÏP C RWPVQU CRNKECFQU [ CT½DKIC C NCU [ GP QTQ COCTKNNQ CN
KIWCN SWG NCU GUVKNK\CFCU CIWLCU 2GSWGÍQ UGIWPFGTQ C NCU UGKU #UCU p$¾VQPq
GP QTQ COCTKNNQ FG M 2WNUGTC FG RKGN PGITC QTKIKPCN EQP JGDKNNC GP QTQ COC
TKNNQ FG M %QP GUVWEJG [ EGTVKHKECFQ &K½OGV Q FG NC ECLC Z OO


->ˆ`>\ {°Óxä å

92



£°ä™n° p67&14q /1&'.1 p#'410#76q %#,# ; $4#<#.'6' '0 #%'41
&1$.' *751 *14#4+1 /18+/+'061 #761/6+%1 'UHGTC C\WN OCTKPQ
PWOGTCEKÏP CT½DKIC [ C VTC\QU NWOKPKUEGPVGU UGIWPFGTQ EGPVTCN [ ETKUVCN FG
\CHK Q
->ˆ`>\ Ó°äää å
£°ä™™° p2+'44' -70<q 4'( 2-# 5&4 0– %#,# '0 141 #/#4+..1
&' - %10 %#061 &' /10'&# /18+/+'061 #761/6+%1 /#37+
0#4+# 8+ 'UHGTC DNCPEC EQP PWOGTCEKÏP TQOCPC GP PGITQ CIWLC CWZKNKCT RCTC
GN FÉC FGN OGU 5GIWPFGTQ TGVTÏITCFQ [ CIWLCU GP GUOCNVG C\WNCFQ 2WNUGTC FG
RKGN OCTTÏP [ JGDKNNC QTKIKPCNGU
->ˆ`>\ {°xää å
£°£ää p2+'44' -70<q 4'( 2-# 54. 0– %#,# '0 141 $.#0%1 &'
- %10 %#061 &' /10'&# /18+/+'061 #761/6+%1 /#37+0#
4+# 8+56# 'UHGTC DNCPEC [ PGITC EQP PWOGTCEKÏP TQOCPC HCUGU NWPCTGU 5G
IWPFGTQ TGVTÏITCFQ [ CIWLCU GP QTQ 2WNUGTC FG RKGN EQP JGDKNNC QTKIKPCN


->ˆ`>\ x°xää å

94



£°£ä£° p$7.)#4+q 4'.1, &' 27.5'4# 2#4# 5'­14# %#,# '0 #%'41
%10 '. $+5'. '0 141 415# /18+/+'061 #761/6+%1 '5('4# 0#
%#4#&# %10 $4+..#06'5 0WOGTCEKÏP CT½DKIC GP QTQ TQUC C NCU FQEG [
UGKU %QTQPC ECDWLÏP FG \CHK Q 2WNUGTC FG RKGN DNCPEC %QP UW GUVWEJG

->ˆ`>\ {°Çxä å

£°£äÓ° p$7.)#4+q 4'.1, &' 275.'4# 2#4# 5'­14# %#,# '0 141 415#
&' - %10 $+5'. &' $4+..#06'5 0– 0– .1 /18+/+'061
57+<1 &' %7#4<1 'UHGTC PCECTCFC EQP PWOGTCEKÏP FG DTKNNCPVGU [ CIWLCU
GP QTQ TQUC 2WNUGTC FG RKGN DNCPEC QTKIKPCN %QP UW GUVWEJG

->ˆ`>\ n°™ää å

£°£äΰ p$7.)#4+q 4'.1, &' 27.5'4# /1&'.1 ':64#2.#01 %1.'%
%+10 41/# 4'5'48# &' /#4%*# /18+/+'061 /'%0+%1 /#07#.
4'( 0– 21 %#,# '0 #%'41 'UHGTC PGITC EQP PWOGTCEKÏP C
VTC\QU CRNKECFQU [ CT½DKIC C NCU FQEG [ UGKU 2WNUGTC FG RKGN PGITC [ JGDKNNC
QTKIKPCNGU &K½OGVTQ OO %QP UW GUVWEJG

->ˆ`>\ È°{ää å

£°£ä{° p$7.)#4+q /1&'.1 p&+#)101 /#)0'5+7/q %#,# '0 #%'41
0– #* /18+/+'061 #761/6+%1 'UHGTC OCTTÏP EQP PWOGTCEKÏP
C VTC\QU CRNKECFQU [ CT½DKIC C NCU FQEG [ UGKU GP PGITQ #IWLC EGPVTCN RCTC GN
UGIWPFGTQ 8GPVCPC ECNGPFCTKQ C NCU VTGU %TKUVCN FG \CHK Q %QTTGC FG ECWEJQ
[ JGDKNNC QTKIKPCNGU &K½OGVTQ OO %QP UW GUVWEJG

->ˆ`>\ £°™xä å


£°£äx° p&+14q 4'.1, &' 27.5'4# 2#4# 5'­14# /1&'.1 p&8+++ / q
%#,# ; $4#<#.'6' '0 #%'41 %& / /18+/+'061 57+<1 &'
%7#4<1 'UHGTC XGTFG CIWC EQP PWOGTCEKÏP C VTC\QU CRNKECFQU [ CT½DKIC C
NCU QEJQ GP CEGTQ CN KIWCN SWG NCU CIWLCU [ UGIWPFGTQ EGPVTCN %QP UW GUVWEJG


->ˆ`>\ £°{Çx å

£°£äÈ° p&+14q 4'.1, &' 27.5'4# 2#4# 5'­14# %#,# '0 #%'41
%& # %10 $+5'. &' $4+..#06'5 /18+/+'061 57+<1 &' %7#4
<1 'UHGTC PGITC EQP PWOGTCEKÏP C VTC\QU CRNKECFQU FG DTKNNCPVGU 'UVKNK\CFCU
CIWLCU GP CEGTQ 2WNUGTC FG RKGN EQNQT ITCPCVG [ JGDKNNC QTKIKPCNGU &K½OGVTQ
OO %QP UW GUVWEJG


->ˆ`>\ ΰ™xä å

96



£°£äÇ° 6+/' (14'8'4 /1&'.1 %#$ &+8'4 // %#,# '0 #%'41 %41
0¯)4#(1 /18+/+'061 57+<1 &' %7#4<1 'UHGTC PGITC EQP PWOGTCEKÏP C
RWPVQU [ CT½DKIC C NCU FQEG 8GPVCPC ECNGPFCTKQ GPVTG NCU [ %TKUVCN FG \CHK Q
2WNUGTC FG ECWEJQ PGITQ %QP UW GUVWEJG

->ˆ`>\ Óää å

£°£än° /106$.#0% 4'.1, &' 27.5'4# /1&'.1 6+/'9#.-'4 %41
0¯)4#(1 %#,# '0 #%'41 /18+/+'061 #761/6+%1 'UHGTC PGITC EQP PW
OGTCEKÏP C VTC\QU CRNKECFQU [ CT½DKIC GP CEGTQ UGIWPFGTQ EGPVTCN C NCU PWGXG 8GP
VCPC ECNGPFCTKQ C NCU VTGU [ ETKUVCN FG \CHK Q 2WNUGTC FG RKGN PGITC %QP UW GUVWEJG

->ˆ`>\ £°ÈÓx å

£°£ä™° /18#&1 4'.1, &' 27.5'4# 2#4# %#$#..'41 %410¯)4#(1
%#,# '0 #%'41 /18+/+'061 57+<1 &' %7#4<1 'UHGTC C\WN EQP PWOGTCEKÏP
C RWPVQU CRNKECFQU [ CT½DKIC C NCU FQEG 8GPVCPC ECNGPFCTKQ C NCU EWCVTQ %TKUVCN FG
\CHK Q 2WNUGTC FG RKGN VGLCPC %QP UW GUVWEJG

->ˆ`>\ ÇÇx å

£°££ä° 5'8'0(4+&#; 4'.1, &' 27.5'4# 2#4# %#$#..'41 %#,# '0 #%'41
/18+/+'061 #761/6+%1 2WNUGTC FG RKGN PGITC %QP UW GUVWEJG

->ˆ`>\ șx å

£°£££° 59#4185-+ 4'.1, &' 27.5'4# 2#4# 5'­14# /1&'.1 '.+5 #37#
%#,# '0 #%'41 'UHGTC DNCPEC EQP PWOGTCEKÏP GP CEGTQ $TC\CNGVG FG ETKUVCNGU
C\WNGU %QP UW GUVWEJG

->ˆ`>\ Ónx å

£°££Ó° /1/1 &'5+)0 /1&'.1 %#$ 8#0 )#74& %#,# '0 #%'41 /1
8+/+'061 57+<1 &' %7#4<1 'UHGTC PGITC EQP PWOGTCEKÏP C VTC\QU CRNKECFQU GP
GUOCNVG DNCPEQ [ UGIWPFGTQ EGPVTCN C NCU UGKU 8GPVCPC ECNGPFCTKQ GPVTG NCU [ NCU
2WNUGTC [ JGDKNNC QTKIKPCNGU %QP UW GUVWEJG
->ˆ`>\ ÓÓä å

£°££Î° *#/+.610 4'.1, &' 27.5'4# /1&'.1 -*#-+ . 0#8; %#,# '0
#%'41 %10 $+5'. )+4#614+1 /18+/+'061 #761/6+%1 'UHGTC ITKU EQP PW
OGTCEKÏP CT½DKIC GP DNCPEQ [ UGIWPFGTQ EGPVTCN C NCU PWGXG 8GPVCPC ECNGPFCTKQ
GPVTG NCU [ %TKUVCN FG \CHK Q 2WNUGTC FG ECWEJQ PCTCPLC %QP UW GUVWEJG

->ˆ`>\ nxä å

£°££{° %410¯/'641 $4'+6.+0) &+)+6#. '0 .# 2#46' 2156'4+14


->ˆ`>\ £xä å

98


Click to View FlipBook Version