(QPEVKQPPGOGPV
%CTCEVÅTKUVKSWGU
8QVTG QWXTGRQTVG FG ICTCIG GUV FQVÅG FG HQPEVKQPU SWK XQWU QHHTGPV WP OGKNNGWT EQPVTÐNG FW HQPEVKQPPGOGPV FG XQVTG
RQTVG FG ICTCIG
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.C VGEJPQNQIKG /[3
WVKNKUG WP UKIPCN FG |/*\ QHHTCPV WPG EQOOWPKECVKQP ¼ FGWZ XQKGU GPVTG NQWXTGRQTVGFG
ICTCIG GV NGU CEEGUUQKTGU CEVKXÅU RCT /[3
8QVTG RQTVG FG ICTCIG GUV EQORCVKDNG CXGE WP OCZKOWO FG
|CEEGUUQKTGU /[3
2QWT NGU CRRNKECVKQPU FG VÅNÅRJQPG KPVGNNKIGPV EQOOCPFCPV XQVTG QWXTGRQTVG FG ICTCIG GV RQWT
NGU CWVTGU CEEGUUQKTGU /[3
NC RCUUGTGNNG +PVGTPGV /[3
FG %JCODGTNCKP OQFÄNG %+)$7 GUV TGSWKUG
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.C VGORQTKUCVKQP FG HGTOGVWTG HGTOG CWVQOCVKSWGOGPV NC RQTVG CRTÄU WPG RÅTKQFG FÅVGTOKPÅG 0G 2#5 CEVKXGT NC
VGORQTKUCVKQP FG HGTOGVWTGUKN UCIKV FWPG RQTVGTKIKFG.C VGORQTKUCVKQP FG HGTOGVWTGFQKV ÆVTGWVKNKUÅG
70+37'/'06 UWT NGU RQTVGU CTVKEWNÅGU 'NNG GUV FÅUCEVKXÅG RCT FÅHCWV UGNQP NG TÅINCIG FWUKPG #XCPV NC HGTOGVWTG
FG NC RQTVG NQWXTGRQTVG FG ICTCIG ÅOGV FGU DKRU GV NÅENCKTCIG UG OGV ¼ ENKIPQVGT .C HQPEVKQP FG OKPWVGTKG UG
FÅUCEVKXG UK NC RQTVG FG ICTCIG TGPEQPVTG WPG QDUVTWEVKQP FGWZ HQKU QW UK NGU FÅVGEVGWTU KPXGTUGWTU FG UÅEWTKVÅ QPV ÅVÅ
OCN KPUVCNNÅU .C RQTVG FG ICTCIG TGOQPVG GV 0' UG HGTOG 2#5 LWUSW¼ NÅNKOKPCVKQP FGU QDUVTWEVKQPU QW NKPUVCNNCVKQP
EQTTGEVG FGU FÅVGEVGWTU KPXGTUGWTU #RTÄU NÅNKOKPCVKQP FGU QDUVTWEVKQPU GV NCNKIPGOGPV EQTTGEV FGU FÅVGEVGWTU
KPXGTUGWTU NC RQTVG UG HGTOGTC UK XQWU CEVKQPPG\ NQWXTGRQTVG FG ICTCIG .C OKPWVGTKG FG HGTOGVWTG PG HQPEVKQPPGTC
2#5 UK NQWXTGRQTVG FG ICTCIG GUV CNKOGPVÅ RCT DCVVGTKG QW UK NGU FÅVGEVGWTU KPXGTUGWTU FG UÅEWTKVÅ PG UQPV RCU
CNKIPÅU %GVVG HQPEVKQP PoGUV 2#5 FGUVKPÅG ¼ ÆVTG NC RTKPEKRCNG OÅVJQFG FG HGTOGVWTG FG NC RQTVG 7PG EQOOCPFG FG
VÅNÅFÅXGTTQWKNNCIG ÅOGVVGWT OWTCN ¼ EQFG FQKV ÆVTG KPUVCNNÅG FCPU NG ECU FWP XGTTQWKNNCIG CEEKFGPVGN NQTU FG
NWVKNKUCVKQP FG EGVVGHQPEVKQP
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.QWXTGRQTVG FG ICTCIG C ÅVÅ RTQITCOOÅ GP WUKPG FG OCPKÄTG ¼ HQPEVKQPPGT CXGE NC VÅNÅEQOOCPFG SWK EJCPIG FG
EQFG ¼ EJCSWG WVKNKUCVKQP CEEÅFCPV CW JCUCTF ¼ RNWU FG |OKNNKCTFU FGPQWXGCWZ EQFGU %QORCVKDNG CXGE NGU
CEEGUUQKTGU /[3
XQKT NC RCIG
4'/#437' .GU CPEKGPU VGNGEQOOCPFGU EQOOCPFGU FG RQTVG %JCODGTNCKP GV NGU RTQFWKVU FG VKGTU PG UQP RCU
EQORCVKDNGU
#EEGUUQKTGU /[3
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6ÅNÅEQOOCPFGU ,WUSW¼
%QOOCPFGU FG RQTVG
,WUSW¼ EQOOCPFGU FG RQTVG /[3
1WXTGRQTVG UCPU ENÅ ,WUSW¼
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.QTUSWKN GUV DKGP EQPPGEVÅ GV DKGP CNKIPÅ NG ECRVGWT FKPXGTUKQP FÅVGEVGTC WP QDUVCENG UWT NG RCUUCIG FG UQP HCKUEGCW
KPHTCTQWIG 5K WP QDUVCENG DTKUG NG HCKUEGCW KPHTCTQWIG RGPFCPV SWG NC RQTVGUGHGTOGNCRQTVG UCTTÆVGTCGV TGOQPVGTC
LWUSW¼ NC RQUKVKQP GPVKÄTGOGPV QWXGTVG GV NGU NWOKÄTGU FG NQWXTGRQTVG ENKIPQVGTQPV HQKU 5K NC RQTVG GUV
EQORNÄVGOGPV QWXGTVG GV SWG NGU ECRVGWTU FKPXGTUKQP PG UQPV RCU KPUVCNNÅU QW UQPV OCN CNKIPÅU NC RQTVG PG UG HGTOG
RCU ¼ RCTVKT FWPG VÅNÅEQOOCPFG %GRGPFCPV KN GUV RQUUKDNG FG HGTOGT NC RQTVG GP OCKPVGPCPV NG DQWVQP FG NC
EQOOCPFG FG RQTVG QW FG NÅOGVVGWT ¼ EQFG LWUSW¼ EG SWG NC RQTVG UQKV VQVCNGOGPV HGTOÅG .G ECRVGWT FKPXGTUKQP PC
CWEWP GHHGV UWT NG E[ENG FQWXGTVWTG
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2QWT ÅEQPQOKUGT NoÅPGTIKG NoQWXTGRQTVG FG ICTCIG UG OGV GP OQFG FG XGKNNG NQTUSWG NC RQTVG GUV EQORNÄVGOGPV
HGTOÅG .G OQFGFG XGKNNG HGTOG NQWXTGRQTVG FGICTCIG LWUSW¼ EG SWKN UQKV CEVKXÅ .GOQFGXGKNNG GUV UÅSWGPEż
NCORQWNG FÅENCKTCIG FG NQWXTGRQTVG FG ICTCIG NQTUSWG NCORQWNG UÅVGKPV NG VÅOQKP &'. FW ECRVGWT UÅVGKPV GV EJCSWG
HQKU SWG NÅENCKTCIG FG NQWXTGRQTVG FG ICTCIG UCNNWOG NG VÅOQKP &'. FW ECRVGWT UCNNWOG .QWXTGRQTVG FG ICTCIG PG
UGOGVGPOQFG FGXGKNNG SWG NQTUSWKN C CEJGXÅ EKPS E[ENGU FG OKUG UQWU VGPUKQP
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.GU CORQWNGU FG NoQWXTGRQTVG FG ICTCIG UoCNNWOGPV NQTUSWG EG FGTPKGT GUV KPKVKCNGOGPV DTCPEJÅ SWGNG EQWTCPV GUV
TÅVCDNK CRTÄU WPG RCPPG QW NQTUSWG NoQWXTGRQTVG FG ICTCIG GUV CEVKXÅ .GU NWOKÄTGU UGVGKPFTQPV CWVQOCVKSWGOGPV
¾RTGU OKPWVGU 1P RGWV WVKNKUGT WPG CORQWNG ¼ KPECPFGUEGPEG # |YCVVU OCZKOWO QW RQWT WPG GHHKECEKVÅ
ÅPGTIÅVKSWG OCZKOCNG WPG NCORG HNWQTGUEGPVG EQORCEVG FG |9 ÅSWKXCNCPV ¼ |9 4'/#437' .WVKNKUCVKQP
FCORQWNGU JCNQIÄPGU ¼ EQN EQWTV QW FCORQWNGU URÅEKCNKUÅGU RGWV ECWUGT WPG UWTEJCWHHG FW RCPPGCW FGZVTÅOKVÅ QW
FG NC FQWKNNG 0G RCU WVKNKUGT FoCORQWNGU ¼ &'. UQWU TKUSWG FG TÅFWKTG NC RQTVÅG QW NG TGPFGOGPV FG XQVTG QW XQU
EQOOCPFGU ¼ FKUVCPEG
(QPEVKQP FÅENCKTCIG
.QWXTGRQTVG FG ICTCIG GUV FQVÅ FWPG HQPEVKQP UWRRNÅOGPVCKTG NÅENCKTCIG UCNNWOG SWCPF SWGNSWWP GPVTG RCT NC RQTVG
FG ICTCIG QWXGTVG GV KPVGTTQOR NG HCKUEGCW KPHTCTQWIG FW FÅVGEVGWT KPXGTUGWT FG UÅEWTKVÅ 2QWT WP EQPVTÐNG
UWRRNÅOGPVCKTG FGU CORQWNGU FG XQVTG QWXTGRQTVG FG ICTCIG TGRQTVG\XQWU CW RCIG RCIG GV RCIG
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.G U[UVÄOG FoCNKOGPVCVKQP RCT DCVVGTKG FG UGEQWTU XQWU RGTOGV FoGPVTGT QW FG UQTVKT FG XQVTG ICTCIG NQTU FoWPG RCPPG
FG EQWTCPV .QTUSWG NoQWXTGRQTVG FG ICTCIG GUV CNKOGPVÅ RCT NC DCVVGTKG FG UGEQWTU NoQWXTGRQTVG FG ICTCIG
HQPEVKQPPG RNWU NGPVGOGPV NoÅENCKTCIG PG HQPEVKQPPG RCU NC &'. FoÅVCV FG EJCTIG FG NC DCVVGTKG UoCNNWOG GP QTCPIG GV
WP DKR UG HCKV GPVGPFTG GPXKTQP VQWVGU NGU FGWZ UGEQPFGU