Abelyar_Istoriya-moih-bedstviy.157151.PDF


Чтобы посмотреть этот PDF файл с форматированием и разметкой, скачайте его и откройте на своем компьютере.
VFLBSKLORVRSK\
$XWKRU,QIR
Iv_j::[_eyj
Bklhjbyfhbo[_^kl\bc
AgZf_gblZyZ\lh[bh]jZnbyI_ljZ:[_eyjZ ]]\fba\_klgZyih^gZbf_gh\Zgb_fbklhjby
fhbo[_^kl\bcbim[ebdm_fZy\gZklhys_fba^Zgbbij_^klZ\ey_lqj_a\uqZcgh[hevrhcbgl_j_k
^eyqblZl_ey
HgZijbgZ^e_`bli_jmijhkeZ\e_ggh]hnbehkhnZfZ]bkljZk\h[h^guobkdmkkl\h^gh]hba
kZfuodjmiguoij_^klZ\bl_e_cjZgg_c]hjh^kdhcdmevlmju\hNjZgpbbdhlhjuc\hkklZeijhlb\
[_ah]h\hjhqgh]hZ\lhjbl_lZdZlhebq_kdhcp_jd\bbih^\_j]kyaZwlhk__klhjhgu`_klhqZcrbf
ij_ke_^h\Zgbyf
Bklhjbyfhbo[_^kl\bcbgl_j_kgZhkh[_gghl_fqlhhgZ^Z_lyjdh_bgZ]ey^gh_ij_^klZ\e_gb_h[
b^_heh]bq_kdhc[hjv[_dbi_\r_c\hNjZgpbb\i_j\hciheh\bg_;,,\biha\hey_lihgylv
j_ZdpbhggmxjhevdZlhebq_kdhcp_jd\b\wlhc[hjv[_
Y^hihegbl_evgh_nhjfZlbjh\Zgb_ 0&DW\f
^hiijZ\dZ :G\f
Iv_j:[_eyj
Bklhjbyfhbo[_^kl\bc
QZklvi_j\Zy
Q_eh\_q_kdb_qm\kl\ZqZklhkbevg__\ha[m`^Zxlkybebkfy]qZxlkyijbf_jZfbq_fkeh\Zfb
Ihwlhfmihke_ml_r_gby\ebqghc[_k_^_yj_rbegZibkZlvl_[_hlkmlkl\mxs_fmml_rbl_evgh_
ihkeZgb_kbaeh`_gb_fi_j_`bluofghx[_^kl\bcqlh[ukjZ\gb\ZykfhbfbluijbagZek\hb
kh[kl\_ggu_g_\a]h^ubebgbqlh`gufbbebg_agZqbl_evgufbbe_]q_i_j_ghkbebo
Yijhbkoh`mbaf_kl_qdZjZkiheh`_ggh]h\ij_^^\_jbb;j_lZgbdZdy^mfZxfbeyo\\hkvfbd
\hklhdmhlGZglZbghkys_]hgZa\Zgb_IZe_
H^Zj_gguchlijbjh^ufh_cjh^bgubebihk\hckl\ZfgZr_]hjh^Z\hkijbbfqb\hklvxyhlebqZeky
kihkh[ghklyfbdgZmqgufaZgylbyfHl_pfhc^hlh]hdZdyij_ihykZeky\hbgkdbfihykhfihemqbe
g_dhlhjh_h[jZah\Zgb_
Ihwlhfmb\ihke_^kl\bbhg[ueij_bkiheg_glZdhcex[h\vxdgZmd_qlhij_`^_q_f]hlh\blv
dZ`^h]hbak\hbokugh\_cd\hbgkdhfm^_emihaZ[hlbeky^Zlvbfh[jZah\Zgb_J_r_gb_hlpZ[ueh
dhg_qghbkiheg_ghZlZddZdy\dZq_kl\_i_j\_gpZ[ue_]hex[bfp_flhhgl_fkbevg_cklZjZeky
lsZl_evg__h[mqblvf_gy
Y`_q_f[hevr_hdZau\Zemki_oh\\gZmd_bq_fe_]q_hgbfg_^Z\Zebkvl_f[he__kljZklgh
ijb\yau\Zekydgbfb[ueh^_j`bflZdhcex[h\vxdagZgbxqlhij_^hklZ\b\k\hbf[jZlvyf
gZke_^kl\hij_bfms_kl\Zfh_]hi_j\hjh^kl\Zb[e_kd\h_gghckeZ\ukh\k_fhlj_dkyhlmqZklby\
kh\_l_FZjkZjZ^blh]hqlh[u[ulv\hkiblZgguf\ehg_Fbg_j\uBa[jZ\hjm`b_^bZe_dlbq_kdbo
^h\h^h\kj_^bhklZevguoiheh`_gbcnbehkhnbbyijhf_gye\k_ijhqb_^hki_obgZwlbbij_^ihq_e
\h_ggufljhn_yfih[_^uijbh[j_lZ_fu_\^bkimlZoIhwlhfm_^\ZlhevdhymagZ\Zeh
ijhp\_lZgbb]^_eb[hbkdmkkl\Z^bZe_dlbdbbhex^yomk_j^kl\mxsbo\g_fdZdyi_j__a`Ze^ey
mqZklby\^bkimlZobah^ghcijh\bgpbb\^jm]mxmih^h[eyykvlZdbfh[jZahfi_jbiZl_lbdZf
=bevhfmbaRZfih^_ckl\bl_evgh\u^Zxs_fmky\lh\j_fyfZ]bkljm\wlhch[eZklbdhlhjuc
ihevah\Zekykhhl\_lkl\mxs_ckeZ\hc
HglhbklZefhbfgZklZ\gbdhfKgZqZeZy[ueijbgylbf[eZ]hkdehgghghaZl_fklZe_fm\\ukr_c
kl_i_gbg_ijbyl_glZddZdiulZekyhijh\_j]gmlvg_dhlhju_ba_]hiheh`_gbcqZklhhl\Z`b\Zeky
\hajZ`Zlv_fmbbgh]^Zih[_`^Ze_]h\kihjZoGZb[he__`_\u^Zxsb_kybafhbokhlh\Zjbs_cih
rdhe_\_kvfZkbevgh\hag_]h^h\ZebgZf_gyaZwlhbl_fkbevg__q_fy[uefheh`_boih\hajZklmb
ihdmjkmh[mq_gbyA^_kvlhbgZqZebkvfhb[_^kl\byijh^he`Zxsb_kyihgug_q_frbj_
jZkijhkljZgyeZkvh[hfg_keZ\Zl_f[he__\hkieZf_gyeZkvdhfg_aZ\bklv
hauf_\hkZfhfk_[_\ukhdh_fg_gb_g_khhl\_lkl\h\Z\r__fh_fm\hajZklmy[m^mqbxghr_c
m`_klj_fbekyklZlv\h]eZ\_rdheub^Z`_gZf_lbek_[_f_klh]^_yfh][ugZqZlvlZdmx
^_yl_evghklvZbf_ggh\F_e_g_[u\r_f\lh\j_fyagZqbl_evgufmdj_ie_ggufimgdlhfb
dhjhe_\kdhcj_ab^_gpb_cMihfygmlucfhcmqbl_ev^h]Z^Zekyh[wlhfbihklZjZekygZkdhevdhwlh
[ueh^eyg_]h\hafh`ghhl^Zeblvfhxrdhemhlk\h_cHgbah[j_lZe\k_\hafh`gu_lZcgu_
fZobgZpbbqlh[uihf_rZlvhldjulbxfh_crdheubij_`^_q_fyihdbgm_]hebrblvf_gy
ba[jZggh]h^eyg__f_klZGhlZddZdg_dhlhju_bakbevguofbjZk_]hhlghkbebkvdg_fm
g_^jm`_ex[ghlhijbboih^^_j`d_bkh^_ckl\bbfg_m^Zehkv^h[blvkybkiheg_gbyfh_]h`_eZgby
Z_]hy\gZyaZ\bklv\ha[m^beZmfgh]bokhqm\kl\b_dhfg_
KkZfh]h`_gZqZeZfh_cij_ih^Z\Zl_evkdhc^_yl_evghklb\rdhe_fhe\Zhfh_fbkdmkkl\_\h[eZklb
^bZe_dlbdbklZeZjZkijhkljZgylvkylZdrbjhdhqlhgZqZeZihg_fgh]mf_jdgmlvkeZ\Zg_lhevdh
fhbordhevguokhlh\Zjbs_cghbkZfh]hmqbl_eyhlihq_fm\hauf_\_s_[he__e_klgh_fg_gb_h
k\hbokihkh[ghklyoyi_j_g_kk\hxrdhem\mdj_ie_ggh_f_kl_qdhDhj[_cevihkhk_^kl\mk
IZjb`_fqlh[uihemqblv\hafh`ghklvbf_gghhlkx^ZqZs_gZiZ^ZlvgZk\hboijhlb\gbdh\\
^bkimlZoH^gZdhg_fgh]h\j_f_gbkimkly\ke_^kl\b_g_mf_j_gghckljZklbdgZmqgufaZgylbyfy
ih^hj\Zek\h_a^hjh\v_b\ugm`^_g[ue\ha\jZlblvkygZjh^bgml_q_gb_g_kdhevdboe_ly[uedZd
[um^Ze_gbaNjZgpbbaZlhf_gy_s_j_\ghklg_ch`b^Zeb\k_m\e_dZ\rb_kybamq_gb_f^bZe_dlbdb
Dh]^Zihijhr_kl\bbg_kdhevdboe_lykh\k_fhijZ\bekyhl[he_agbfhc[u\rbcgZklZ\gbd=bevhf
Zjob^bZdhgIZjb`kdbckf_gb\k\h_ij_`g__h^_ygb_\klmibe\jy^umklZ\guodZghgbdh\dZd
i_j_^Z\Zebkp_evxdZaZlvky[eZ]hq_klb\__bl_fkdhj__ih^gylvkygZ[he__\ukhdmxklmi_gv
^moh\gh]hkZgZWlh]hhg\kZfhfkdhjhf\j_f_gbb^hklb]lZddZd_]hk^_eZeb_ibkdhihf
RZehgkdbfH^gZdhgh\h_h^_ygb_ khhl\_lkl\mxs___]hkZgm\fg_m^Zebeh_]hbaIZjb`Zbg_
hl\e_dehhlijb\uqguoaZgylbcnbehkhnb_c\lhf`_kZfhffhgZkluj_\dhlhjuchgm^Zebeky
^Z[uihk\ylblvk_[y^_em\_juhglhlqZk`_ihk\h_fmh[uqZxklZeaZgbfZlvkyim[ebqguf
ij_ih^Z\Zgb_fLh]^Zy\ha\jZlbekydg_fmqlh[uijhkemrZlvmg_]hdmjkjblhjbdbijbq_f\oh^_
gZrbog_h^ghdjZlgh\hagbdZ\rbokihjh\y\_kvfZm[_^bl_evghhijh\_j]gm\_]h^h\h^u\ugm^be
_]hkZfh]hbaf_gblvb^Z`_hl\_j]gmlv_]hij_`g__mq_gb_h[mgb\_jkZebyo;ueh`__]hmq_gb_h[
h[sboihgylbyolZdh\hhgml\_j`^Zeqlh\_svh^gZblZ`_ihkmsghklbgZoh^blky\k\hbo
hl^_evguobg^b\b^mmfZo\kyp_ebdhfbh^gh\j_f_gghihke_^gb_`_jZaebqZxlky f_`^mkh[hc\fg_
ih k\h_c\fkmsghklbghlhevdh\kbemfgh]hh[jZabyZdpb^_gpbcBwlhk\h_mq_gb_hgbkijZ\be
lZdbfh[jZahfqlhgZdhg_pkdZaZeh^gZ\_svy\ey_lkylh`^_kl\_gghc k^jm]hc\fg_ihkmsghklbZ
\kbem[_ajZaebqby
ljm^_gqlh^Z`_Ihjnbjbc\k\h_f\_^_gbb]h\hjyh[mgb\_jkZebyog_j_rbekyhij_^_eblvbo
aZy\b\Wlh^_ehqj_a\uqZcghc]em[bguIhke_lh]hdZd=bevhfbaf_gbeb^Z`_[ue\ugm`^_g
hl\_j]gmlvk\h_ij_`g__mq_gb_d_]he_dpbyfgZqZebhlghkblvkylZdij_g_[j_`bl_evghqlh_^\Z
^Z`_klZeb^himkdZlv_]hdij_ih^Z\Zgbx^jm]bojZa^_eh\^bZe_dlbdbdZd[m^lh[ulhevdh\
mq_gbbh[mgb\_jkZebyoaZdexqZ_lkylZdkdZaZlv\kykmlvwlhcgZmdbIhwlhfmfh_mq_gb_
ijbh[j_ehlZdmxkbembZ\lhjbl_lqlhebpZgZb[he__mk_j^ghih^^_j`b\Z\rb_jZgvr_fh_]h
\ur_gZa\Zggh]hmqbl_eybhkh[_gghkbevghgZiZ^Z\rb_gZfh_mq_gb_l_i_jvi_j_reb\fhx
�rdhemZ`_ij__fgbdfh_]hmqbl_ey\iZjb`kdhcrdhe_kZfij_^eh`befg_k\h_f_klhqlh[u
\f_kl_khklZevgufbihmqblvkymf_gylZf]^_jZgvr_ijhp\_lZe_]hbfhcmqbl_ev
kdhj_ihke_lh]hdZdh[mq_gb_^bZe_dlbd_hdZaZehkvih^fhbfjmdh\h^kl\hfgZr[u\rbcmqbl_ev
gZqZeklhevkbevghfmqblvkyhlaZ\bklbbh]hjq_gbyqlhwlh^Z`_ljm^gh\ujZablvG_bf_ykbe
^hevr_l_ji_lvihklb]rbc_]hm^Zjhgdh\ZjghklZebkdZlv\hafh`ghklvm^Zeblvf_gybardheu
GhlZddZdmg_]hg_[uehij_^eh]Z^_ckl\h\Zlvijhlb\f_gyhldjulhlh=bevhfj_rbeij_^ty\blv
ihahjg_crb_h[\bg_gbyq_eh\_dmi_j_^Z\r_fmfg_jmdh\h^kl\h\rdhe_bhlgylv__mg_]hZgZwlh
f_klhgZagZqblvfh_]hijhlb\gbdZLh]^Zy\ha\jZlbeky\F_e_gbkgh\ZdZdij_`^_hldjuelZf
k\hxrdhembq_f[he__y\ghhgij_ke_^h\Zef_gyk\h_caZ\bklvxl_f[hevr_\hajZklZefhc
Z\lhjbl_lkh]eZkghkeh\ZfihwlZ
ukr__aZ\bklbp_ev
;mjyfhldjulu\_jrbgu
H^gZdhg_fgh]hiha`_ihgy\qlhihqlb\k__]hmq_gbdb\_kvfZkhfg_\Zxlky\_]h[eZ]hq_klb\hklb
b[_adhgpZi_j_r_ilu\Zxlkyihih\h^m_]h\klmie_gby\debjihlhfmqlhhggb\dZdhckl_i_gbg_
hldZaZekyhl]hjh^kdhc`bagb=bevhfi_j__oZekZfbi_j_\_ag_fgh]hqbke_ggmx[jZlbxbk\hx
rdhem\g_dbcm_^_gguchlIZjb`Zihk_ehd:ylhlqZk`_\ha\jZlbekybaF_e_gZ\IZjb`gZ^_ykv
\dhgp_dhgph\h[j_klbihdhchl_]hij_ke_^h\Zgbc
GhihkdhevdmdZdym`_aZf_lbejZg__hgk^_eZefhbfij__fgbdhffh_]hijhlb\gbdZyjZkdbgme
k\hcrdhevgucklZg\g_ij_^_eh\IZjb`ZgZ]hj_k\
@_g_\v_\udZd[ugZf_j_\Zykv^_j`Zlvfh_]hij__fgbdZ\hkZ^_MkeurZ\h[wlhfgZrmqbl_ev
[_a\kydh]haZaj_gbykh\_klbg_f_^e_ggh\ha\jZlbeky\IZjb`bi_j_\_ehklZ\Z\rboky_s_ijbg_f
mq_gbdh\b[jZlbx\ij_`gbcfhgZklujv^Z[uhk\h[h^blvhlfh_chkZ^ulh]h\hbgZdhlhjh]hhg
jZgvr_ihdbgme^_ckl\bl_evghklb`_=bevhfkbevghih\j_^be_fmohlygZf_j_\ZekyhdZaZlv_fm
ihfhsvkZfhf^_e_jZgvr_mfh_]hij__fgbdZ[uehohlvg_kdhevdhmq_gbdh\bgl_j_kh\Z\rboky
ij_bfms_kl\_ggh_]he_dpbyfbhIjbkpbZg_\bamq_gbbdhlhjh]hhgkqblZekyhkh[_gghkbevguf:
ihke_ijb[ulbymqbl_eyfhcij__fgbdkh\_jr_gghebrbeky\k_ok\hbomq_gbdh\b[uelZdbf
h[jZahf\ugm`^_ghldZaZlvkyhljmdh\h^kl\Zrdhehckdhj_ihke_lh]h\dhg_phlqZy\rbkv
ijbh[j_klbfbjkdmxkeZ\mhgbkZfihkljb]ky\fhgZob
LugZ\_jgh_ohjhrhhk\_^hfe_ghlhfdZdqZklhkihjbebybfhbmq_gbdbkgZrbf[u\rbf
mqbl_e_fb_]hmq_gbdZfbihke_bo\ha\jZs_gby\IZjb`bgZkdhevdh[uem^Zq_g^eygZkZlZd`_b
^eyf_gykZfh]hbkoh^wlbo[bl\
KdZ`mh[wlhfkf_ehkeh\Zfb:ydkZqlh[u\ujZablvkyihkdjhfg__
Kijhkbl_ev\uh[bkoh^_
B^Z`__keb[uymfheqZeh[wlhflhkZfh^_eh]eZkblaZk_[yjZ\ghdZdbbkoh^_]h
IhdZijhbkoh^beb\k_wlbkh[ulbyfhy\haex[e_ggZyfZlvExpby\ua\ZeZf_gydk_[_gZjh^bgm
Ihke_ihkljb`_gbyfh_]hhlpZ;_j_g]Zjby\fhgZobhgZgZf_j_\ZeZkvihklmiblvlZd`_Ih
bkiheg_gbbwlh]hh[jy^Zy\ha\jZlbeky\hNjZgpbxqlh[uhkgh\Zl_evg__bamqblv[h]hkeh\b_\lh
\j_fydZdqZklhmihfbgZ_fucgZrmqbl_ev=bevhfm`_ml\_j^bekygZij_klhe__ibkdhiZ
RZehgkdh]hukrbf`_Z\lhjbl_lhf\h[eZklb[h]hkeh\bykqblZekylh]^Z_]hkh[kl\_ggucmqbl_ev
:gk_evfEZgkdbc
BlZdyijbr_edwlhfmklZjpmdhlhjuc[ueh[yaZgkeZ\hc[hevr_k\h_c^he]he_lg_c
ij_ih^Z\Zl_evkdhc^_yl_evghklbg_`_ebk\h_fmmfmbebiZfylb
?kebdlhgb[m^vijboh^bedg_fmkp_evxjZaj_rblvdZdh_gb[m^vk\h_g_^hmf_gb_lhmoh^behl
g_]hk_s_[hevrbfg_^hmf_gb_fIjZ\^Z_]hkemrZl_ebbf\hkobsZebkvghhgdZaZeky
gbqlh`guf\hijhrZ\rbf_]hhq_feb[hHgbamfbl_evgh\eZ^_ej_qvxghhgZ[ueZdjZcg_[_^gZ
kh^_j`Zgb_fbebr_gZfukebAZ`b]Zyh]hgvhggZihegyek\hc^hf^ufhfZg_haZjye_]hk\_lhf
Hg[ueihoh`gZ^j_\hkebkl\hcdhlhjh_ba^Zebij_^klZ\eyehkv\_ebq_kl\_ggufgh\[ebabbijb
\gbfZl_evghfjZkkfhlj_gbbhdZau\Zehkv[_kieh^gufB\hldh]^Zyih^hr_edwlhfm^j_\mk
p_evxkh[jZlvkg_]hieh^uhdZaZehkvqlhwlhijhdeylZy]hkih^hfkfhdh\gbpZbeblhlklZjuc^m[
kdhlhjufkjZ\gb\Z_lIhfi_yEmdZg]h\hjy
klZeZ\_ebdh]hbf_gbl_gv
Keh\gh^m[\ukhdbckj_^bieh^hjh^gh]hihey
M[_^b\rbkv\wlhfgZhiul_yg_^he]hhklZ\Zeky\ijZa^ghklbih^_]hk_gvxIhkl_i_gghyklZe
ijboh^blvgZ_]he_dpbb\k_j_`_bj_`_q_fly`dhh[b^_eg_dhlhjuo\u^Zxsboky_]hmq_gbdh\
lZddZdbfdZaZehkvqlhykij_aj_gb_fhlghrmkvdklhev\_ebdhfmmqbl_exIhwlhfmlZcgh
\hkklZgZ\eb\Zy_]hijhlb\f_gyhgbk\hbfbdh\ZjgufbgZ]h\hjZfb\gmrbeb_fmg_gZ\bklvdhfg_
H^gZ`^uihke_e_dpbbfumq_gbdbaZ\_ebf_`^mkh[hcrmleb\ucjZa]h\hj
B\hllh]^ZdlhlhkgZf_j_gb_fbkiulZlvkijhkbef_gydZdh\hfh_fg_gb_hql_gbbk\ys_ggh]h
ibkZgbyihkdhevdmybamqZe^hlh]h\j_f_gbebrvk\_lkdb_ij_^f_luYhl\_lbebamq_gb_
k\ys_ggh]hibkZgbyy\ey_lkydjZcg_\Z`gufb[hhghmqblgZkkiZk_gbx^mrbghf_gykbevgh
m^b\ey_lihq_fmh[jZah\Zggu_ex^bkqblZxlg_^hklZlhqguf^eyihgbfZgbymq_gbyk\yluoagZgb_
boih^ebgguokhqbg_gbcbeblhedh\Zgbcbgm`^Zxlkyijbwlhf_s_\qv_feb[hjmdh\h^kl\_
Fgh]b_baijbkmlkl\mxsbokf_ykvkijhkbebf_gykfh]eb[uywlh\uihegblvb\ayekyeb[uy
kZfaZlZdh_^_eh"Yhl\_lbeqlh_kebhgb`_eZxlwlh]hy]hlh\ihiulZlvkyLh]^Zk]jhfdbfb
\hkdebpZgbyfbbk_s_[he__]jhfdbfkf_ohfhgbkdZaZebJZamf__lkyfuwlh]h`_eZ_f
havf_fl_l_dkldhlhjuch[uqghg_ijhoh^blky\rdheZoblh]^ZfuihkfhljbfdZdlh\u
bkihegbl_\Zr_h[_sZgb_Ihh[s_fmkh]eZkbx[uebba[jZgul_fg_crb_ijhjhq_kl\ZB_a_dbbey
BlZd\ay\l_dklylhlqZkijb]eZkbebogZaZ\ljZ`_gZe_dpbxHgb`_^Z\Zyg_ijhr_gu_kh\_lu
ij_^eZ]Zebfg_g_ki_rblvklZdbfb\Z`gufb\_sZfbb]h\hjbebqlhfg_dZdq_eh\_dm
g_hiulghfmg_h[oh^bfhihjZ[hlZlvih^hevr_bhkgh\Zl_evghh[^mfZlvkh^_j`Zgb_e_dpbbYk
g_]h^h\Zgb_fhl\_lbeqlh\fh_fh[uqZ_jZaj_rZlv\hijhkuhibjZykvg_gZdjhihleb\ucljm^gh
gZjZamfb^h[Z\beqlhybebkh\k_fhldZ`mkvhlk\h_]hgZf_j_gbybeb`_hgb^he`guijbclbgZ
e_dpbxkh]eZkghfh_fm`_eZgbx
fukevqlhy[m^mqbkh\_jr_gghg_hiul_g\h[eZklb[h]hkeh\bylZdihki_rghdg_fmijbklmiZx
H^gZdhwlZe_dpbylZdihgjZ\beZkv\k_fijbkmlkl\h\Z\rbfqlhhgbklZebhlau\Zlvkyhg_ck
bkdexqbl_evgufh^h[j_gb_fbih[m`^Zebf_gyijh^he`Zlvlhedh\Zgby\lhf`_^mo_MkeurZ\h[
wlhfhlkmlkl\h\Z\rb_gZi_j\hce_dpbbqj_a\uqZcghhohlghy\bebkvgZ\lhjmxblj_lvxbklZeb
mk_j^ghi_j_ibku\Zlvlhedh\Zgbydhlhju_y^Z\ZekkZfh]hi_j\h]h^gyfhboe_dpbcke_^kl\b_
wlh]hgZa\Zgguc\ur_klZj_pklZel_jaZlvky`_klhdhcaZ\bklvxdhfg_bm`_jZg__ dZdmihfygmlh
\ur_\f\hkklZgh\e_ggucijhlb\f_gyg_dbfbgZ]h\hjZfbgZqZeklhev`_kbevghij_ke_^h\Zlvf_gy
\h[eZklb[h]hkeh\kdbo\hijhkh\kdhevjZgvr_=bevhf\h[eZklbnbehkhnkdbo
lh\j_fy\rdhe_wlh]hklZjpZ[ueb^\Zmq_gbdZkqblZ\rb_kyemqrbfbkj_^bijhqboZbf_ggh
:ev[_jbdbaJ_cfkZbEhlmevnbaEhf[Zj^bbH[Zhgb[ueb\ukhdh]hfg_gbyhkZfbok_[_bl_f
[he__\jZ`^_[ghgZkljh_guihhlghr_gbxdhfg_=eZ\gufh[jZahfih^\ebygb_fbogZ]h\hjh\
dZdwlhh[gZjm`behkv\ihke_^kl\bb\fjZa]g_\ZggucklZj_p\_kvfZ]jm[haZij_lbefg_ijh^he`Zlv
fhblhedh\Zgbyijhjhq_kl\B_a_dbbey\ij_^_eZok\h_crdheuih^l_fij_^eh]hfqlh_keby\
k\hboe_dpbyo\ukdZ`mqlhgb[m^vhrb[hqgh_dZdg_hiulguc\[h]hkeh\bbhl\_lkl\_gghklvaZ
hrb[dmiZ^_lgZg_]hDh]^Zmq_gbdbwlhmkeurZebhgbijbreb\kbevgh_g_]h^h\Zgb_ijhlb\
klhevhq_\b^ghcaehklghcde_\_ludZdhcgbdh]^Z_s_gbgZdh]hg_\ha\h^bebGhq_fykg__
h[gZjm`b\ZeZkvwlZde_\_lZl_f[hevr_ijbh[j_lZeyihq_lZbij_ke_^h\Zgbykhklhjhgu:gk_evfZ
lhevdhm\_ebqbebfhxkeZ\m
G_fgh]h\j_f_gbkimklyy\_jgmeky\IZjb`b\l_q_gb_g_kdhevdboe_lkihdhcghjmdh\h^belhc
rdhehcdhlhjZyi_j\hgZqZevgh[ueZ^eyf_gyij_^gZagZq_gZbfg_ij_^hklZ\e_gZbbadhlhjhcy
[ueij_`^_ba]gZgLZfkkZfh]hgZqZeZfhboe_dpbcyihklZjZekyaZdhgqblvlhedh\Zgby
B_a_dbbeygZqZlu_fghc\EZg_Hgb[uebijbgyluqblZl_eyfblZd[eZ]hkdehgghqlhf_gyklZeb
kqblZlvg_f_gvrbfZ\lhjbl_lhf\h[eZklb[h]hkeh\byq_f\h[eZklbnbehkhnbbDZdb_`_
djmigu_^_g_`gu_\u]h^ubdZdmxkeZ\m^hklZ\beZfg_fhyrdheZdjZcg_jZajhkrZyky\ke_^kl\b_
ij_ih^Z\Zgby\g_cbnbehkhnbbb[h]hkeh\bywlhdhg_qghg_fh]ehhklZlvkyl_[_g_ba\_klguf
baaZrbjhdhcfhe\uGh[eZ]hihemqb_\k_]^Z^_eZ_l]emiph\gZ^f_ggufbZ[_aaZ[hlgh_fbjgh_
`blb_hkeZ[ey_lkbem^moZbe_]dhgZijZ\ey_l_]hdiehlkdbfkh[eZagZf
KqblZym`_k_[y_^bgkl\_ggufkhojZgb\rbfky\fbj_nbehkhnhfbg_hiZkZykv[hevr_gbdZdbo
g_ijbylghkl_cyklZehkeZ[eylv[jZa^uk^_j`b\Zxsb_fhbkljZklblh]^ZdZdij_`^_y\_ekZfuc
\ha^_j`Zgguch[jZa`bagbB^hklb]Zy\k_[hevrbomki_oh\\bamq_gbbnbehkhnbbbeb[h]hkeh\by
y\k_[he__hl^Zeyekyhlnbehkhnh\b[h]hkeh\h\g_qbklhlhcfh_c`bagbBa\_klghqlhnbehkhnu
g_]h\hjym`_h[h]hkeh\Zo lh_klvhex^yokh[ex^Z\rbogZklZ\e_gbyk\ys_ggh]hibkZgby\f
keZ\bebkv[hevr_\k_]hdjZkhlhxk\h_c\ha^_j`ZgghklbY`_ljm^beky\k_p_ehho\Zq_gguc
]hj^hklvxbkeZklhex[b_fblhevdh[h`_kl\_ggh_fbehk_j^b_ihfbfhfh_c\hebbkp_ebehf_gy
hlh[_bowlbo[he_ag_ckgZqZeZhlkeZklhex[byZaZl_fbhl]hj^hklbhli_j\h]hhghba[Z\beh
f_gyebr_gb_fkj_^kl\_]hm^h\e_l\hj_gbyZhlkbevghc]hj^hklbihjh`^_gghc\hfg_ij_`^_
\k_]hfhbfbmq_gufbaZgylbyfb ihkeh\mZihklheZAgZgb_ij_bkihegy_lgZ^f_gghklvx\fhgh
kiZkehf_gymgbab\kh``_gb_flhckZfhcdgb]bdhlhjhcy[hevr_\k_]h]hj^beky
Yohqmkhh[sblvl_[_h[wlbobklhjbyolhqlh[ueh\^_ckl\bl_evghklbqlh[uluagZehgbog_ih
kemoZfb\lhfihjy^d_\dZdhfwlbbklhjbbijhbkoh^bebY]gmrZeky\k_]^Zg_qbklhlhc[em^gbpZ
aZgylbybybf_yfZehagZdhfuokj_^bfbjyghdFhylZdkdZaZlvdh\ZjgZybbaf_gqb\Zykm^v[Z
kha^ZeZm^h[g_crbckemqZcqlh[u[uehe_]q_k[jhkblvf_gyk\ukhlufh_]h\_ebqby\[_a^gmB
\hl[h`_kl\_ggh_fbehk_j^b_mgbabehf_gydhkg_\r_]h\\_ebqZcr_c]hj^ug_baZ[u\r_]hh
\hkijbgylhc[eZ]h^Zlb
:bf_ggh`beZ\kZfhf]hjh^_IZjb`_g_dZy^_\bpZihbf_gbWehbaZie_fyggbpZh^gh]h
dZghgbdZihbf_gbNmev[_jQ_f[hevr_hg__ex[bel_fmk_j^g__aZ[hlbekyh[__mki_oZo\
mk\h_gbb\kydbodZdbolhevdh[ueh\hafh`ghgZmdHgZ[ueZg_om`_^jm]bobebphfgh
h[rbjghklvxk\hbogZmqguoihagZgbcij_\hkoh^beZ\k_oLZddZdm`_gsbghq_gvj_^dh
\klj_qZ_lkylZdhc^Zjlh_klvmq_gu_ihagZgbylhwlh_s_[he__\ha\urZeh^_\mrdmb^_eZeh__
ba\_klghc\h\k_fdhjhe_\kl\_BjZkkfhlj_\\k_ijb\e_dZxs__h[uqghdk_[_\ex[e_gguoyihq_e
aZgZbemqr__\klmiblv\ex[h\gmxk\yavbf_gghkg_cYiheZ]Zee_]dh^hklb]gmlvwlh]hkZfhf
^_e_yihevah\Zekylh]^ZlZdhcba\_klghklvxblZd\u]h^ghhlebqZekyhlijhqbofheh^hklvxb
djZkhlhcqlhfh]g_hiZkZlvkyhldZaZgbhldZdhc`_gsbgudhlhjmxym^hklhbe[uk\h_cex[h\vx
Y[uehk\_^hfe_ghihagZgbyowlhc^_\mrdb\gZmdZobh__ex[\bdgbfbihlhfm[uem\_j_gqlh
hgZe_]dh^Zklfg_k\h_kh]eZkb_Y^mfZeqlhfu^Z`_gZoh^ykv\jZaemd_fh]eb[u
i_j_ibku\Zlvkyf_`^mkh[hc Z\_^vibkZlvfh`gh]hjZa^hkf_e__q_f]h\hjblv\fblZdbfh[jZahf
gZoh^blvky\k_]^Z\ijbylghfh[s_gbb
BlZd\hkieZf_g_ggucex[h\vxdwlhc^_\mrd_yklZebkdZlvkemqZyk[ebablvkykg_ciml_f
_`_^g_\guojZa]h\hjh\^hfZqlh[ul_fe_]q_kdehgblv__dkh]eZkbxKwlhcp_evxygZqZe
i_j_]h\hjuk^y^_c^_\mrdb ijbkh^_ckl\bbg_dhlhjuo_]h^jma_c\fg_kh]eZkblkyebhgijbgylv
f_gyaZdZdmxm]h^ghieZlmgZoe_[gbdhf\k\hc^hfgZoh^b\rbckyhq_gv[ebadhhlfh_crdheu
Ijbwlhfydhg_qghml\_j`^Ze[m^lhaZ[hluh^hfZrg_fohayckl\_\kbevghckl_i_gbf_rZxl
fhbfgZmqgufaZgylbyfbhkh[_gghly`_eh^eyf_gy[j_fyohayckl\_gguojZkoh^h\:Nmev[_j[ue
hq_gvkdmibkbevghklj_fbeky^hklZ\blvk\h_cie_fyggbp_\hafh`ghklv^Zevg_cr_]h
mkh\_jr_gkl\h\Zgby\gZmdZoIjbgZebqbbwlbo^\moh[klhyl_evkl\ye_]dhihemqbe_]hkh]eZkb_b
^hklb]`_eZ_fh]h\_kvfZaZbgl_j_kh\ZggucjZamf__lky\ihemq_gbb^_g_]hg[uem[_`^_gb\
lhfqlh_]hie_fyggbpZq_fmgb[m^vhlf_gygZmqblky
K\_jofhboh`b^ZgbchgklZegZklhcqb\hf_gym]h\Zjb\Zlvkh]eZkbekygZfhbij_^eh`_gbybkZf
ihfh]fh_cex[\bZbf_gghhgihjmqbeie_fyggbpm\k_p_ehfh_fmjmdh\h^kl\m^Z[uy\kydbc
jZadh]^Zmf_gyihke_\ha\jZs_gbybardheu[m^_l\j_fy[_ajZaebqgh^g_fbebghqvx
aZgbfZeky__h[mq_gb_fb_keb[uygZr_eqlhhgZij_g_[j_]Z_lmjhdZfbkljh]h__gZdZau\ZeY
kbevghm^b\eyeky_]hgZb\ghklb\wlhf^_e_bg_f_g__ijhk_[yihjZ`ZekylhfmqlhhgdZd[u
hl^Zeg_`gmxh\_qdm]heh^ghfm\hedm_^vihjmqb\fg_^_\mrdmkijhkv[hcg_lhevdhmqblvgh
^Z`_kljh]hgZdZau\Zlv__hgij_^hklZ\eyefg_m^h[guckemqZc^eybkiheg_gbyfhbo`_eZgbcb
^Z\Ze ^Z`__keb[ufuh[Zwlh]hbg_ohl_eb\f\hafh`ghklvkdehgblvdex[\bWehbameZkdZfbbeb
`_ijbgm^blv__ dex[\b\fm]jhaZfbbih[hyfbH^gZdh[ueb^\Zh[klhyl_evkl\Zdhlhju_\]eZaZo
Nmev[_jZmkljZgyeb\kydh_ihklu^gh_ih^haj_gb_wlh_]hex[h\vdie_fyggbp_bfhe\Zhfh_c
ij_`g_c\ha^_j`ZgghklbQlh`__s_"KgZqZeZgZkkh_^bgbeZkh\f_klgZy`bagv\h^ghf^hf_Z
aZl_fbh[s__qm\kl\h
BlZdih^ij_^eh]hfmq_gbyfu\k_p_ehij_^Z\Zebkvex[\bbmk_j^b_\aZgylbyo^hklZ\eyehgZf
[hevr_[uehihp_em_\q_ffm^juobaj_q_gbcjmdbqZs_lygmebkvd]jm^bq_fddgb]ZfZ]eZaZ
qZs_hljZ`Zebex[h\vq_fke_^bebaZgZibkZggufQlh[u\ha[m`^Zlvf_gvr_ih^haj_gbcy
gZghkbeWehba_m^Zjughg_\]g_\_Zkex[h\vxg_\jZa^jZ`_gbbZkg_`ghklvxbwlbm^Zju
[uebijbylg_cex[h]h[ZevaZfZQlh^Zevr_"Ho\Zq_ggu_kljZklvxfug_mimklbebgbh^ghcba
ex[h\guoeZkdk^h[Z\e_gb_fb\k_]hlh]hg_h[uqgh]hqlhfh]eZijb^mfZlvex[h\vBq_ff_gvr_
wlbogZkeZ`^_gbcfubkiulZeb\ijhrehfl_fieZf_gg_cij_^Z\Zebkvbfbl_ff_g__ij_kus_gby
hgbmgZkg_\uau\ZebGhq_f[hevr_h\eZ^_\ZehfghxwlhkeZ^hkljZklb_l_ff_gvr_y[ue\
khklhygbbaZgbfZlvkynbehkhnb_cbm^_eylv\gbfZgb_rdhe_
Oh^blv\g__bhklZ\ZlvkylZffg_[ueh\\ukr_ckl_i_gbkdmqghb^Z`_mlhfbl_evghlZddZd
ghqvxy[h^jkl\h\ZebaaZex[\bZ^gbihk\ysZegZmqgufaZgylbyf
IhkdhevdmygZqZelh]^Zg_[j_`ghbjZ\gh^mrghhlghkblvkydql_gbxe_dpbclhyklZebaeZ]Zlv\k_
m`_g_ih\^hogh\_gbxZihijb\uqd_bij_\jZlbeky\ijhklh]hi_j_kdZaqbdZfuke_c\ukdZaZgguo
ij_`^_B_kebfg_kemqZehkv_s_ijb^mfu\Zlvgh\h_lhwlh[uebex[h\gu_klbobZg_lZcgu
nbehkhnbbFgh]b_bawlboklboh\dZdlubkZfagZ_rvg_j_^dhjZamqb\ZebkvbjZki_\Zebkv\h
fgh]boh[eZklyo]eZ\gufh[jZahfl_fbdhlhjuo`bagvh[hevsZeZih^h[ghfg_Ghljm^ghb
ij_^klZ\blvk_[_dZdhi_qZebebkvihwlhfmih\h^mfhbmq_gbdbdZdhgb\a^uoZebb`Zeh\Zebkv
^h]Z^Z\rbkvhfh_fkhklhygbbbeb\_jg__kdZaZlvhihfjZq_gbbfh_c^mrb
Klhevy\gu_ijbagZdbijhbkoh^ys_]hm`_fZehdh]hfh]ebhklZ\blv\g_\_^_gbbbyiheZ]Zxqlh
gZwlhlkq_lg_h[fZgu\Zekygbdlhdjhf_lhevdhlh]hq_eh\_dZdhlhjhfmwlhijbghkbeh
\_ebqZcrbcihahjlh_klvdjhf_^y^bfh_c\haex[e_gghcIjZ\^Zg_dhlhju_bgh]^ZgZf_dZeb_fm
h[wlhfghhgg_fh]bfih\_jblvlhebihijbqbg_k\h_cqj_af_jghcex[\bdie_fyggbp_ hq_fy
mihfygme\ur_\flhebbaaZlh]hqlh[ueZba\_klgZfhy\ha^_j`Zgghklv\ijhrehf_^vgZfhq_gv
ljm^ghaZih^hajblv\ihklu^guoihklmidZol_oex^_cdhlhjuofu[he__\k_]hex[bfKkbevghc
ex[h\vxg_fh]mlm`blvkyq_jgu_ih^haj_gby
hlihq_fm\ibkvf_[eZ`_ggh]hB_jhgbfZdKZ[bgbZgm]h\hjblkyH[uqghhae_\k\h_f^hf_fu
magZ_fihke_^gbfbbg_\_^Z_fhihjhdZogZrbo`_gb^_l_cohlyh[wlhf[helZxlkhk_^bGh
ljm^ghkdjulvhlq_eh\_dZlhqlhba\_klgh\k_fbohly[u\ihke_^gxxhq_j_^vghgZf\k_`_
ijboh^blkydh]^Zeb[hmagZlvijhwlhBf_gghlZdihbkl_q_gbbg_kdhevdbof_kyp_\kemqbehkvbk
gZfbHdZdijbkdhj[gh[ueh^y^_\dhgp_dhgph\magZlvh[wlhfKdhev\_ebdh[ueh]hj_
\ex[e_gguoijbjZkklZ\Zgv_DZdk]hjZeyhlklu^ZDZdhckdhj[vxy[ueih^Z\e_gijb\b^_
]hj_klbfh_c\haex[e_gghc
DZdmxi_qZevij_l_ji_eZhgZbaaZfh_]hihahjZGbh^bgbagZkg_aZ[hlbekyhk_[_ZkhdjmrZekyh
lhfqlhihklb]eh^jm]h]hDZ`^uchieZdb\Zeg_kh[kl\_ggh_g_kqZklv_Zg_kqZklv_^jm]h]hLZdbf
h[jZahfl_e_kgZyjZaemdZk^_eZeZ_s_[he__l_kguf^moh\guckhxaZgZrZex[h\vhl
g_\hafh`ghklb__m^h\e_l\hj_gbyjZa]hjZeZkv_s_kbevg__M`_i_j_`b\rbk\hcihahjfuklZeb
g_qm\kl\bl_evgudg_fmijblhfq_f[he___kl_kl\_ggufij_^klZ\eyekygZfgZrihklmihdl_f
keZ[__klZgh\behkv\gZkqm\kl\hklu^ZBlZdkgZfbkemqbehkvlh`_kZfh_qlhkaZklb]gmlufb
\jZkiehoFZjkhfb_g_jhchq_fjZkkdZau\Z_lihwlbq_kdZy[Zkgy
G_fgh]hiha`_^_\mrdZihqm\kl\h\ZeZqlhhgZh`b^Z_lj_[_gdZbk\_ebdhcjZ^hklvxgZibkZeZ
fg_h[wlhfijhkyf_gyih^Zlvkh\_ldZd_c\wlhfkemqZ_ihklmiblvB\hlh^gZ`^ughqvx\
dk_[_gZjh^bgm]^_hgZbijh`b\ZeZmfh_ck_klju^hl_oihjihdZg_jh^beZkugZdhlhjh]hhgZ
gZa\ZeZ:kljhey[b_f?_^y^yihke___[_]kl\Zqmlvg_khr_ekmfZgbdlhdjhf_bkiulZ\rbolh`_
]hj_g_fh][uihgylvkbem_]hhlqZygbybklu^ZGhqlh_fmk^_eZlvkhfghcbdZdb_dhagbijhlb\
f_gymkljhblvwlh]hhgg_agZeHg[hevr_\k_]hhiZkZekyqlh_keb[uhgm[bebebdZdgb[m^v
bam\_qbef_gylh\haex[e_gg_crZy_]hie_fyggbpZihieZlbeZkv[uaZwlhmf_gygZjh^bg_Hgg_
fh]gbaZo\Zlblvgbdm^Zgb[m^vkbehxaZlhqblvf_gylZddZdyijbgyeijhlb\wlh]h\k_f_ju
ij_^hklhjh`ghklbg_khfg_\ZykvqlhhggZiZ^_lgZf_gydZdlhevdhkfh`_lbebihkf__lwlh
k^_eZlv
GZdhg_pihqm\kl\h\Z\khkljZ^Zgb_d_]h[_af_jghfm]hjxbh[\bgyyk_[ykZfh]h\dh\Zjkl\_ bdZd
[u\\_ebqZcr_fij_^Zl_evkl\_\f\ua\Zgghffh_cex[h\vxykZfijbr_edwlhfmq_eh\_dmijhkym
g_]hijhs_gbybh[_sZy^ZlvdZdh__fmm]h^ghm^h\e_l\hj_gb_Ym[_`^Ze_]hqlhfh_ih\_^_gb_
g_ihdZ`_lkym^b\bl_evgufgbdhfmdlhohlvdh]^Zgb[m^vbkiulZe\eZklvex[\bbihfgbldZdb_
]em[hdb_iZ^_gbyij_l_ji_\ZebbaaZ`_gsbg^Z`_\_ebqZcrb_ex^bkkZfh]hgZqZeZ
kms_kl\h\Zgbyq_eh\_q_kdh]hjh^Z:qlh[u_s_[hevr__]hmkihdhblvykZfij_^eh`be_fm
m^h\e_l\hj_gb_k\_jo\kydbo_]hh`b^ZgbcZbf_gghkdZaZeqlhy]hlh\`_gblvkygZkh[eZag_gghc
ebrv[uwlhkh\_jrbehkv\lZcg_byg_ihl_ji_e[ums_j[Zhlfhe\uHggZwlhkh]eZkbeky
kdj_ib\kh]eZr_gb_ihp_em_fbq_klgufkeh\hf^ZggufdZdbfkZfbflZdb_]h[ebadbfbh^gZdh
ebrv^eylh]hqlh[ul_fe_]q_ij_^Zlvf_gy
HlijZ\b\rbkv\gh\vgZjh^bgmyijb\_ahllm^Zk\hxih^jm]mkh[bjZykv\klmiblvkg_c\[jZdgh
hgZg_lhevdhg_h^h[jbeZwlh]hgZf_j_gbygh^Z`_klZjZeZkvhl]h\hjblvf_gyh[jZsZy\gbfZgb_
gZ^\Zh[klhyl_evkl\Zm]jh`Zxsmxfg_hiZkghklvbfh_[_kq_klb_HgZdeyeZkv\lhfqlh^y^x__
g_evaymfbehklb\blvgbdZdbfkihkh[hfb\ihke_^kl\bbwlhhijZ\^ZehkvHgZkijZrb\ZeZdZd
kfh`_lhgZ]hj^blvkywlbf[jZdhfdhlhjuch[_kkeZ\blf_gybjZ\ghmgbablf_gyb__kdhev
[hevrh]hgZdZaZgbyihlj_[m_l^eyg__\_kvfbj_kebhgZhlgbf_lmg_]hlZdh_\_ebdh_k\_lbeh
kdhevfgh]h\uah\_lwlhl[jZdijhdeylbckhklhjhgup_jd\bdZdhcijbg_k_l_cms_j[bkdhev
fgh]hke_abklhj]g_lhgmnbehkhnh\dZdg_ijbklhcghbijbkdhj[gh[ueh[u_keb[uyq_eh\_d
kha^Zggucijbjh^hc^ey[eZ]Z\k_oex^_cihk\ylbek_[ylhevdhh^ghc`_gsbg_bih^\_j]ky
lZdhfmihahjm
HgZj_rbl_evghhldZau\ZeZkvhlwlh]h[jZdZaZy\eyyqlhhgy\blky^eyf_gy\h\k_ohlghr_gbyo
ihklu^gufbly]hklgufHgZih^q_jdb\ZeZbfh_[_kkeZ\b_ihke_wlh]h[jZdZbl_ljm^ghklb
[jZqghc`bagbdhlhjuoZihklhem[_`^Z_lgZkba[_]Zlv]h\hjyK\h[h^_gebluhl`_gu"G_bsb
`_guGh_keblub`_gbekylhg_kh]j_rbeB_keb^_\Z\uc^_laZfm`lhhgZg_kh]j_rbl
LZdh\u_[m^mlbf_lvkdhj[viehlbY`_sZ`m\ZkB^Ze__Ohqmqlh[u\ug_bf_ebaZ[hl
?keb`_]h\hjbeZhgZfg_yg_ihkemrZxkvgbkh\_lZZihklheZgbmdZaZgbck\yluo
hlghkbl_evghly`_klb[jZqgh]hb]Zlhy^he`_gihdjZcg_cf_j_h[jZlblvkyaZkh\_lhfd
nbehkhnZfb\gbfZl_evghbamqblvlhqlhgZibkZghh[jZd_bfbkZfbfbbeb`_lhqlhgZibkZghh
gboG_j_^dh^Z`_k\ylu_hlpuklZjZl_evgh^_eZxlwlhjZ^bgZr_]hgZklZ\e_gbyLZdh\hgZijbf_j
ml\_j`^_gb_\i_j\hcdgb]_ljm^Z[eZ`_ggh]hB_jhgbfZIjhlb\Bh\bgbZgZ]^_B_jhgbf
gZihfbgZ_lqlhL_hnjZklijhkljZgghbih^jh[ghhoZjZdl_jbah\Z\rbcg_\ughkbfu_ly]hklbb
ihklhyggu_[_kihdhckl\Z[jZqghc`bagbm[_^bl_evg_crbfb^h\h^Zfb^hdZaZeqlhfm^jhfm
ijb[Z\ey_lke_^mxs__aZdexq_gb_?kebihwlhfmih\h^mlZdjZkkm`^Z_lL_hnjZkllhdh]h`_ba
ojbklbZghgg_kfmlbl"^jm]hff_kl_lh]h`_ljm^ZB_jhgbf]h\hjblPbp_jhgihke_jZa\h^Zk
L_j_gpb_chl\_lbej_rbl_evgufhldZahfgZm]h\hju=bjpby`_gblvkygZ_]hk_klj_aZy\b\qlhhg
g_\khklhygbbjZ\ghaZ[hlblvkybh`_g_bhnbehkhnbbHg\_^vg_kdZaZeijhklhaZ[hlblvkygh
ijb[Z\be_s_bjZ\ghg_`_eZym^_eylvq_fmeb[hbghfmlZdb_`_aZ[hludZdb_hgm^_eye
nbehkhnbb
QZklv\lhjZy
B_keb^Z`_hl\e_qvkyl_i_jvhlwlh]hij_iylkl\bydnbehkhnkdbfaZgylbyflhij_^klZ\vk_[_
mkeh\bykh\f_klghc`bagb\aZdhgghf[jZd_Qlhfh`_l[ulvh[s_]hf_`^mmq_gbdZfbb^hfZrg_c
ijbkem]hcf_`^mgZeh_f^eyibkvfZb^_lkdhcexevdhcf_`^mdgb]ZfbbeblZ[ebpZfbbijyedhc
�f_`^mklbe_fbebdZeZfhfb\_j_l_ghf"Ze__dlh`_gZf_j_\Zykvihk\ylblvk_[y[h]hkeh\kdbf
bebnbehkhnkdbfjZafure_gbyffh`_l\ughkblvieZq^_l_caZmgu\gu_i_kgbmkihdZb\Zxsbobo
dhjfbebpb]hfhglheiu^hfZrgbokem]bkem`Zghd"Dlh\khklhygbbl_ji_eb\hkfhlj_lvgZ
ihklhyggmxg_qbklhiehlghklvfZe_gvdbo^_l_c"WlhkdZ`_rvlu\hafh`gh^ey[h]Zq_c\h
^\hjpZobebijhklhjguo^hfZodhlhjuo_klvfgh]hjZaebqguodhfgZl^ey[h]Zq_c[eZ]hkhklhygb_
dhlhjuog_qm\kl\bl_evghdjZkoh^Zfbdhlhju_g_agZxllj_\heg_gbc_`_^g_\guoaZ[hlGhy
\hajZ`mqlhnbehkhnugZoh^ylkykh\k_fg_\lZdhfiheh`_gbbdZd[h]Zqblhldlhi_q_lkyh
ijbh[j_l_gbb[h]Zlkl\ZbaZgylfbjkdbfbaZ[hlZfbg_[m^_laZgbfZlvky[h]hkeh\kdbfbbeb
nbehkhnkdbfb\hijhkZfb
IhwlhfmlhagZf_gblu_nbehkhnu^j_\ghklb\\ukr_ckl_i_gbij_abjZ\rb_fbjbg_lhevdh
ihdb^Z\rb_fbjkdmx`bagvghbijyfh[_`Z\rb_hlg__hldZau\Zebk_[_\h\k_ogZkeZ`^_gbyob
bkdZebmkihdh_gbylhevdh\h[tylbyonbehkhnbbH^bgbagbobkZfuc\_ebdbcK_g_dZ\
ihmq_gbbExpbebx]h\hjbllZdG_evayaZgbfZlvkynbehkhnb_clhevdhgZ^hkm]_ke_^m_l
ij_g_[j_qv\k_fqlh[uihk\ylblvk_[ylhc^eydhlhjhcfZehb\k_cgZr_c`bagbG_l[hevrhc
jZagbpugZ\k_]^ZluhklZ\benbehkhnbxbeb`_lhevdhij_j\ZeaZgylby_x\_^v_keblui_j_klZe
aZgbfZlvkynbehkhnb_chgZihdbg_ll_[yK`bl_ckdbfbaZ[hlZfbke_^m_l[hjhlvkyg_
jZkimlu\ZywlbaZ[hluZm^ZeykvhlgboBlZdh[jZa`bagbijbgylucmgZkbaex[\bd;h]ml_fb
ex^vfbdhlhju_kijZ\_^eb\hgZau\ZxlkyfhgZoZfb\yauq_kdhffbj_[uemk\h_gjZ^bex[\bd
nbehkhnbbagZf_gblufbm\k_ogZjh^h\nbehkhnZfb
_^vmex[h]hgZjh^Z[_ajZaebqghyauq_kdh]hbm^_ckdh]hbebojbklbZgkdh]h\k_]^Zbf_ebkv
\u^Zxsb_kyex^bij_\hkoh^ysb_hklZevguoihk\h_c\_j_beb\ukhdhcgjZ\kl\_gghklbb
hlebqZ\rb_kyhl^jm]boex^_ckljh]hklvx`bagbbeb\ha^_j`ZgghklvxLZdh\u[uebkj_^b
^j_\gbobm^__\gZaZj_bihk\ysZ\rb_k_[y;h]mkh]eZkghaZdhgmbebkuguijhjhq_kdb_mq_gbdb
ijhjhdh\Bebbbeb?ebk_yy\ey\rb_kyihk\b^_l_evkl\m[eZ`_ggh]hB_jhgbfZ\_lohaZ\_lgufb
fhgZoZfbLZdh\u`_[ueb\[he__iha^g__\j_fymqZklgbdbl_olj_onbehkhnkdbok_dldhlhjuo
�BhkbnNeZ\bc\;9,,,dgb]_j_\ghkl_cgZau\Z_lnZjbk_yfbkZ^^md_yfbb_kk_yfbLZdh\um
gZkfhgZobih^jZ`Zxsb_ihh[jZam`bagb`blbxZihklheh\beb`__s_[he__jZgg_c
hlr_evgbq_kdhc`bagbBhZggZDj_klbl_ey:myauqgbdh\dZdm`_kdZaZghlZdh\ufb[ueb
nbehkhnu_^vgZbf_gh\Zgb_fm^jhklvbebnbehkhnbybkihevah\Zehkvbfbg_klhevdh^ey
h[hagZq_gby\fmk\h_gguoihagZgbckdhevdh^ey h[hagZq_gby\fk\ylhklb`bagbdZdfuagZ_fbih
hlihq_fmm[eZ`_ggh]h:\]mklbgZ\dgb]_9,,,_]hljm^ZH]jZ^_[h`v_flZf]^_hg
oZjZdl_jbam_lnbehkhnkdb_rdheu_klvlZdh_f_klh
BlZebckdZyrdheZ[ueZhkgh\ZgZIbnZ]hjhfKZfhkkdbfhldhlhjh]h]h\hjyl^hreh^hgZk
�bah[j_l_ggh_bfkZfbfgZa\Zgb_nbehkhnbbhIbnZ]hjZfm^j_pZfbgZau\Zebkvex^b
hlebqZ\rb_kyih\b^bfhfmhlhklZevguok\h_ciho\Zevghc`bagvxIbnZ]hj`_\hl\_lgZ\hijhk
d_fhgk_[ykqblZ_lkdZaZe
nbehkhnhflh_klvklj_fysbfkydfm^jhklbbeb^jm]hf__lZddZdgZa\Zlvk_[yfm^j_phf
dZaZehkvkebrdhfkZfhgZ^_yggufBwlbkZfu_keh\Z
hlebqZ\rb_kyih\b^bfhfmhlhklZevguok\h_ciho\Zevghc`bagvxykghmdZau\ZxlgZlhqlh
yauq_kdb_fm^j_pulh_klvnbehkhnugZau\Zebkvwlbfbf_g_f[he__aZk\hxiho\Zevgmx`bagv
q_faZk\hb\u^Zxsb_kyihagZgby:^hdZau\Zlvijbihfhsbijbf_jh\kdhevlj_a\hb\ha^_j`Zggh
hgb`bebfg_g_ih^h[Z_lqlh[ug_ihdZaZehkv[m^lhyihmqZxkZfmFbg_j\mB_keblZdmx`bagv
\_ebfbjyg_byauqgbdbg_ih[m`^Z_fu_ij_^ibkZgbyfbj_eb]bblhjZa\_lu^moh\gh_ebphb
dZghgbdg_^he`_gl_f[he__ij_^ihqblZlv^moh\gu_h[yaZgghklbij_aj_ggufgZkeZ`^_gbyf^Z[u
l_[yg_ih]ehlbeZwlZOZjb[^Zb^Z[u[_a\ha\jZlghij_aj_\\kydbcklu^lug_ih]jmabeky\wlm
]jyav"?keb`_lug_aZ[hlbrvkyhk\h_f^moh\ghfa\ZgbblhkhojZgbihdjZcg_cf_j_^hklhbgkl\h
nbehkhnZ?keblh[hxaZ[ulkljZo[h`bclhimklvm\Z`_gb_dijbebqbxihkem`blma^hc^ey
l\h_]h[_kklu^kl\ZkihfgbqlhKhdjZl`_gb\rbkvij_`^_\k_]hkZfihieZlbekym`Zkgufb
g_ijbylghklyfbaZwlhmgb`_gb_nbehkhnbb_]hijbf_j^he`_gk^_eZlv^jm]bohklhjh`g__
Wlh]hg_mimklbeba\b^mbkZfB_jhgbfgZibkZ\rbc\i_j\hcdgb]_Ijhlb\Bh\bgbZgZh
KhdjZl_ke_^mxs__H^gZ`^udh]^Zhgklhcdhi_j_ghkbe[_kdhg_qgu_jm]Zl_evkl\ZgZiZ^Z\r_c
gZg_]hDkZglbiiuklhy\r_cgZ\_jomhgZh[ebeZ_]h]jyaghc\h^hcZhghl\_lbe_clhevdhl_fqlh
h[l_j]heh\mbkdZaZeLZdybagZeqlhaZwlbf]jhfhfihke_^m_l^h`^v
Djhf_lh]hWehbaZ^h[Z\beZg_kdhevdhkeh\bhlk_[yhlhfkdhevhiZkghhdZaZehkv[u^eyf_gy__
\ha\jZs_gb_\IZjb`bqlh^eyg__[ueh[u]hjZa^hijbylg__Z^eyf_gyihq_lg___keb[uhgZ
hklZeZkvfh_cih^jm]hcZg_`_ghc\_^vlh]^ZyijbgZ^e_`Ze[u_cg_\kbem[jZqguomaZ
bkdexqbl_evghbaex[\bdg_cbfu\j_fyhl\j_f_gbjZaemqZykvl_fkbevg__qm\kl\h\Zeb[u
jZ^hklvhlgZrbok\b^Zgbcq_fj_`_[u\b^_ebkvM[_`^Zybebhl]h\Zjb\Zyf_gyijbihfhsbwlbo
bebih^h[guo^h\h^h\b[m^mqbg_\khklhygbbih[_^blvfh_g_^hfukeb_ghg_`_eZy\lh`_\j_fy
bhkdhj[blvf_gyhgZ\a^hogmeZaZieZdZeZbaZdhgqbeZk\hbfhev[ulZddhgp_dhgph\hklZ_lky
h^ghkdhj[vhgZr_cih]b[_eb[m^_lklhev`_\_ebdZkdhev\_ebdZ[ueZgZrZex[h\vBdZd[ueh
ijba\Zgh\k_fb\wlhfkemqZ___ij_^kdZaZgb_hdZaZehkvijhjhq_kdbf
BlZdihke_jh`^_gbygZr_]hfeZ^_gpZihjmq_ggh]hihi_q_gbxfh_ck_kljufulZcgh
\ha\jZlbebkv\IZjb`bq_j_ag_kdhevdh^g_cijh\_^yghqv\fhebl\Zo\h^ghcbap_jd\_cfujZgh
ihmljmihemqbeblZf`_[jZqgh_[eZ]hkeh\_gv_\ijbkmlkl\bb^y^bWehbaubg_kdhevdbogZrbob
_]h^jma_c
AZl_ffulhlqZk`_blZcdhfhlijZ\bebkvdZ`^uc\k\hc^hfbihke_wlh]h\b^_ebkvj_^dhb\lZcg_
klZjZykv\kyq_kdbkdjulvgZr[jZdH^gZdh`_^y^yWehbaub_]h^hfZrgb_`_eZyaZ]eZ^blvk\hc
ij_`gbcihahjgZqZeb]h\hjblv\kx^mhkhklhy\r_fky[jZd_bl_fgZjmrbeb^Zggh_fg_h[_sZgb_
GZijhlb\WehbaZklZeZdeyklvkyb[h`blvkyqlh\k_wlbkemobeh`vIhwlhfm^y^ykbevgh
fhgZklujv:j`Zgl_cevg_^Ze_dhhlIZjb`Z]^_hgZ\^_lkl\_\hkiblu\ZeZkvbh[mqZeZkvY\_e_e
ijb]hlh\blv^eyg__ih^h[Zxsb_fhgZobgyffhgZr_kdb_h^_`^u djhf_ihdju\ZeZ\fbkZfh[e_d__
\gboMkeurZ\h[wlhf__^y^yjh^gu_b[ebadb__s_[he__\hhjm`bebkvijhlb\f_gy^mfZyqlh
y]jm[hh[fZgmebobihk\ylbe__\fhgZobgb`_eZykh\_jr_gghhlg__hl^_eZlvkyIjb^y\kbevgh_
g_]h^h\Zgb_hgbkhklZ\bebijhlb\f_gyaZ]h\hjbh^gZ`^ughqvxdh]^ZykihdhcghkiZe\
hl^Ze_gghfihdh_fh_]h`bebsZhgbkihfhsvxfh_]hkem]bih^dmie_ggh]hbfbhlhfklbebfg_
kZfuf`_klhdbfbihahjgufkihkh[hf\ua\Z\rbf\k_h[s__bamfe_gb_hgbbamjh^h\Zebl_qZklb
fh_]hl_eZdhlhjufbyk\_jrbelhgZqlhhgb`Zeh\ZebkvOhlyfhbiZeZqblhlqZk`_aZl_f
h[jZlbebkv\[_]kl\h^\h_bagbo[uebko\Zq_gubih^\_j]gmluhkdhie_gbxbhke_ie_gbxH^gbf
bawlbo^\mo[uefhcmihfygmluc\ur_kem]Zhg`b\ykhfghcb[m^mqbmf_gy\mkem`_gbb
kdehgbekydij_^Zl_evkl\mbaaZ`Z^ghklb
KgZklmie_gb_fmljZdhfg_k[_`Zeky\_kv]hjh^ljm^ghb^Z`_g_\hafh`gh\ujZablvdZd[ueb\k_
bamfe_gudZd\k_f_gy`Ze_ebdZdm^jmqZebf_gyk\hbfb\hkdebpZgbyfbbjZkkljZb\ZebieZq_f
Hkh[_gghl_jaZebf_gyk\hbfb`Zeh[Zfbbju^Zgbyfbdebjbdbbij_`^_\k_]hfhbmq_gbdblZdqlh
y[he__kljZ^ZehlbokhkljZ^Zgbyq_fhlk\h_cjZgukbevg__qm\kl\h\Zeklu^q_fgZg_k_ggu_
m^Zjubfmqbeky[hevr_hlkjZfZq_fhlnbabq_kdhc[hebY\k_^mfZehlhfdZdhc]jhfdhc
keZ\hcyihevah\ZekybdZde_]dhke_ihckemqZcmgbabe__b^Z`_kh\k_fmgbqlh`bedZd
kijZ\_^eb\hihdZjZef_gykm^[h`bc\lhcqZklbfh_]hl_eZdh_cykh]j_rbekdhevkijZ\_^eb\uf
ij_^Zl_evkl\hfhlieZlbefg_lhlq_eh\_ddhlhjh]hjZgvr_ykZfij_^ZedZdij_\hag_kmlwlhy\gh
kijZ\_^eb\h_\haf_a^b_fhbijhlb\gbdbdZdb_\heg_gbyg_ml_rghc]hj_klbijbqbgblwlZjZgZ
fhbfjh^gufb^jmavyfdZdih\k_fmk\_lmjZkijhkljZgblky\_klvhfh_f\_ebqZcr_fihahj_Dm^Z
`_fg_^_lvky"KdZdbfebphfyihdZ`mkvim[ebqgh"_^v\k_[m^mlmdZau\ZlvgZf_gyiZevpZfbb
\kyq_kdbaehkeh\blvh[hfg_^ey\k_oy[m^mqm^h\bsgufaj_ebs_fG_fZehf_gykfmsZehlZd`_b
lhqlhkh]eZkghkmjh\hc[md\_aZdhgZ_\gmobgZklhevdhhl\_j`_gui_j_^]hkih^hfqlhex^yf
hkdhie_ggufiheghklvxbebqZklbqgh\hkij_sZ_lky\oh^blv\hojZfdZdaeh\hggufbg_qbklufb
^Z`_`b\hlgu_lZdh]hjh^ZkqblZxlkyg_ijb]h^gufb^ey`_jl\hijbghr_gbyDgb]ZE_\bl]eZkbl
ug_^he`guijbghkblv\`_jl\m]hkih^mgbdZdh]h`b\hlgh]hkjZa^Z\e_ggufbbeb
&#xlh;&#xjh;&#xaZ;&#xdh;&#xgb;&#x]h;&#xh;&#xjb;&#xlk;&#xy;&#x;hlj_aZggufbbebhlk_q_ggufbbebkhlgylufbl_klbdmeZfb:\hlhjhaZdhgbb]h\hjblkyZ
g_\hc^_l\[h`bcojZf_\gmo
klhev`ZedhfkhklhygbbmgugbyyijbagZxkvj_rbeihkljbqvky\fhgZobg_jZ^b[eZ]hq_klbyZ
baaZkfyl_gbybklu^ZWehbaZ`__s_^hf_gyihfh_fmgZklhygbxgZ^_eZgZk_[yihdju\Zeh
fhgZobgbb\klmibeZ\fhgZklujv
�BlZdfuh[Zihqlbh^gh\j_f_gghgZ^_ebgZk_[yfhgZr_kdmxh^_`^my\Z[[Zlkl\_K_g_gbZ
hgZ\mihfygmlhf\ur_fhgZkluj_:j`Zgl_cevYihfgxqlhfgh]b_`Ze_eb__bim]Zeb
g_\ughkbfuf^ey__fheh^hklb[j_f_g_ffhgZklujkdboijZ\begh\k_m]h\hju[uebgZijZkgu
HgZhl\_qZeZgZgbokd\havke_aubju^Zgbyih\lhjyy`Zeh[mDhjg_ebb
H\_ebqZcrbckmijm]fhc
;jZdgZrihahj^eyl_[yM`_ebafcjhd[m^_l\eZkl_g
�Z`_gZ^wlhc]eZ\hc"G_q_klb\h\klmibeZ\khxay
=hj_ijbg_krbl_[_LZdijbfm`_bygZdZaZgv_
Kwlbfbkeh\ZfbhgZihki_rbeZdZelZjxlhlqZk`_ijbgyeZhk\ys_ggh__ibkdhihfihdju\Zehb
i_j_^ebphf\k_oijbkmlkl\mxsbok\yaZeZk_[yfhgZr_kdbfbh[_lZfb
?^\ZlhevdhyhijZ\bekyhljZgudhfg_gZoeugmebdebjbdbbklZeb^hdmqZlvbfg_bfh_fmZ[[Zlm
g_ij_klZggufbijhkv[Zfbhlhfqlh[uy\gh\vgZqZeij_ih^Z\Zgb_l_i_jvm`_jZ^bex[\bd
[h]mlh]^ZdZd^hl_oihjy^_eZewlhba`_eZgbyijbh[j_klb^_gv]bbkeZ\mHgbgZihfbgZebfg_
qlh[h]ihlj_[m_lhlf_gy\ha\jZs_gbykebo\hc\jmq_ggh]hbffg_lZeZglZB_keb^hl_oihjy
klj_fbekyij_ih^Z\Zlvij_bfms_kl\_gghex^yf[h]Zluflhhlgug_yh[yaZgijhk\_sZlv[_^gydh\
L_i_jvlh\ihklb]r_ff_gyg_kqZklv_y^he`_gihagZlvjmdm[h`vxbl_f[hevr_aZgylvky
bamq_gb_fgZmd^Z[uklZlvbklbggufnbehkhnhf^ey[h]ZZg_^eyex^_cq_fk\h[h^g_cy
klZegug_hliehlkdbobkdmr_gbcbihkdhevdmf_gyg_jZkk_b\Z_lrmffbjkdhc`bagb
F_`^ml_f\Z[[Zlkl\_\dhlhjh_y\klmibe\_ebkh\_jr_gghfbjkdmx`bagvbdlhfm`_\_kvfZ
ij_^hkm^bl_evgmxkZfZ[[Zlklhy\rbc\ur_\k_oijhqboihk\h_fmkZgm[uegb`_boihh[jZam
k\h_c`bagbb_s_[he__ihk\h_c^mjghckeZ\_IhkdhevdmyqZklhbj_adhh[ebqZebo
g_\ughkbfu_]gmkghklbdZdk]eZamgZ]eZalZdb\k_gZjh^ghlhyk^_eZeky\dhgp_dhgph\h[mahcb
ij_^f_lhfg_gZ\bklb^ey\k_ogboIhwlhcijbqbg_hgb[uebhq_gvjZ^uhlf_gyhl^_eZlvkyb
\hkihevah\Zebkv_`_^g_\gufbbgZklhcqb\ufbijhkv[Zfbfhbomq_gbdh\LZddZdihke_^gb_
g_hlklmighb^he]hf_gymijZrb\Zeb\^_eh\f_rZebkvZ[[Zlb[jZlbybym^Zebeky\h^gmd_evx
qlh[u\hah[gh\blvlZfk\hbh[uqgu_mq_[gu_aZgylby
Dhfg_\kZfhf^_e_gZoeugmehlZdh_fgh`_kl\hrdheyjh\qlhg_o\ZlZehf_klZbojZaf_klblvb
a_feyg_^Z\ZeZ^hklZlhqghijh^mdlh\^eyboijhiblZgbyA^_kvygZf_j_\Zekyihk\ylblvk_[y
]eZ\gufh[jZahfbamq_gbxk\ys_ggh]hibkZgbyqlh[he__khhl\_lkl\h\Zehfh_fma\Zgbxh^gZdh
g_kh\k_fhldZaZekyhlij_ih^Z\Zgbybk\_lkdbogZmdhkh[_ggh^eyf_gyijb\uqgh]hb
ij_bfms_kl\_gghhlf_gylj_[h\Z\r_]hkyYk^_eZebawlbogZmdijbfZgdmlZdkdZaZlvdjxqhd
dhlhjufyfh][uijb\e_dZlvex^_cihemqb\rbo\dmkdnbehkhnkdbfaZgylbyfdbamq_gbx
bklbgghcnbehkhnbbLZdh[uqgh^_eZeb\_ebqZcrbcbaojbklbZgkdbonbehkhnh\Hjb]_ghq_f
mihfbgZ_lP_jdh\gZybklhjby
Ihkdhevdm]hkih^m[uehih\b^bfhfmm]h^gh^Zjh\Zlvfg_g_f_gvr_kihkh[ghkl_c^eybamq_gby
k\ys_ggh]hibkZgbyq_f^eyk\_lkdhcnbehkhnbbqbkehkemrZl_e_cfh_crdheudZdgZl_olZdb
gZ^jm]boe_dpbyom\_ebqb\Zehkvlh]^ZdZd\h\k_ohklZevguordheZohghlZd`_[ukljh
mf_gvrZehkvWlhh[klhyl_evkl\h\ha[m^behdhfg_kbevgmxaZ\bklvbg_gZ\bklv^jm]bofZ]bkljh\
dhlhju_gZiZ^ZebgZf_gyijbdZ`^hcfZe_cr_c\hafh`ghklbdZdlhevdhfh]ebHgb\u^\b]Zeb
ijhlb\f_gy]eZ\gufh[jZahf\fh_hlkmlkl\b_^\Ziheh`_gby\hi_j\uolhqlh
ijh^he`_gb_bamq_gbyk\_lkdbodgb]ijhlb\hj_qbl^ZgghfmfghcfhgZr_kdhfmh[_lm\h\lhjuo
lhqlhyj_rbekyijbklmiblvdij_ih^Z\Zgbx[h]hkeh\byg_ihemqb\khhl\_lkl\mxs_]h
jZaj_r_gbyLZdbfh[jZahfhq_\b^ghfg_fh]eh[ulvaZij_s_gh\kydh_ij_ih^Z\Zgb_\rdheZob
bf_gghdwlhfmfhbijhlb\gbdbg_ij_klZgghih[m`^Zeb_ibkdhih\Zjob_ibkdhih\Z[[Zlh\bdZdbo
lhevdhfh]eb^jm]bo^moh\guoebp
L_f\j_f_g_fmf_gyihy\beZkvfukevij_`^_\k_]hijbklmiblvdh[km`^_gbxkZfbohkgh\gZr_c
\_juiml_fijbf_g_gbymih^h[e_gbc^hklmiguoq_eh\_q_kdhfmjZamfmbykhqbgbe^eyfhbo
mq_gbdh\[h]hkeh\kdbcljZdlZlH[h`_kl\_gghf_^bgkl\_bljhbqghklbMq_gbdbfhblj_[h\Zeb
Hgbml\_j`^Zebijbwlhfqlhbaebrgbkeh\Zg_^hklmigu_ihgbfZgbxqlhg_evaym\_jh\Zlv\lh
q_]hluij_^\Zjbl_evghg_ihgyebqlhkf_rguijhih\_^bhlhfq_]hgbijhih\_^gbdgb_]h
kemrZl_ebg_fh]mlihklb]gmlvjZamfhfKZf]hkih^v`Zeh\Zekyqlhih\h^ujyfbke_iuo[ueb
ke_ipu
Dh]^Z\_kvfZfgh]b_m\b^_ebbijhqblZebfhcljZdlZlhg\h[s_f\k_fhq_gvihgjZ\bekylZddZd
ih\b^bfhfm\h^bgZdh\hcf_j_^Z\Zem^h\e_l\hjbl_evgu_hl\_luih\k_f\hagbdZ\rbf\k\yabk
gbf\hijhkZf
Ihkdhevdm`_wlb\hijhkuij_^klZ\eyebkvgZbljm^g_crbfblhq_f[hevr_\gbo[uehljm^ghkl_c
l_f[he__gjZ\beZkvlhgdhklvbojZaj_r_gbyIhwlhfmfhbkhi_jgbdbqj_a\uqZcgh
jZa^hkZ^h\Zggu_wlbfj_rbebkha\Zlvijhlb\f_gykh[hjJZamf__lky]eZ\gh_mqZklb_\wlhf
ijbgyeb^Z\gb_fhbdh\Zjgu_g_ijbyl_eb:ev[_jbdbEhlmevnihke_kf_jlbk\hbobfhbo
mqbl_e_c=bevhfZb:gk_evfZhgbklj_fbebkv\eZ^uq_kl\h\Zlvh^gbbk^_eZlvkydZd[u
gZke_^gbdZfbmf_jrbo:lZddZdhgbh[ZaZ\_^h\ZebrdheZfb\J_cfk_lhqZklufbgZ]h\hjZfb
gZklhevdh\hkklZgh\bebijhlb\f_gyk\h_]hZjob_ibkdhiZJZmeyqlhkh^h[j_gbyij_g_klbgkdh]h
_ibkdhiZDhgZgZ[u\r_]h\lh\j_fyiZikdbfe_]Zlhf\hNjZgpbblhj`_kl\_gghkha\Ze\KmZkkhg_
kh[jZgb_gZa\Z\_]hkh[hjhfbijb]eZkbef_gyij_^klZ\blvkh[hjmfhcba\_klgucljm^hljhbp_
LZdybk^_eZe
H^gZdh_s_^hfh_]hijb_a^Z\KmZkkhgmdZaZggu_\ur_^\Zfhbokhi_jgbdZlZdhde_\_lZebf_gy
i_j_^^moh\_gkl\hfbgZjh^hfqlh\i_j\uc`_^_gvfh_]hijb_a^ZgZjh^qmlvg_ih[bedZf_gvyfb
f_gybg_fgh]boijb_oZ\rbokhfghcmq_gbdh\djbqZdZdh[wlhf_fmgZ]h\hjbeb[m^lh[uy
ijhih\_^mxbibrmqlhmgZkkmlvljb[h]ZIjb[u\\]hjh^yg_f_^e_gghy\bekyde_]Zlmi_j_^Z\
_fmk\hxdgb]m^eyijhkfhljZbkm`^_gbcb\ujZabek\hx]hlh\ghklvih^\_j]gmlvky\aukdZgbxb
ij_l_ji_lvex[h_\haf_a^b__kebgZibkZggh_fghc\q_feb[hhldehgy_lkyhldZlhebq_kdh]h
\_jhmq_gbyE_]ZllhlqZk`_ijbdZaZefg_hl^Zlvfhxdgb]mZjob_ibkdhimbgZa\Zgguffhbf
khi_jgbdZflZdbfh[jZahffhbfbkm^vyfby\bebkvdZdjZal_ex^bdhlhju_[uebfhbfb
h[\bgbl_eyfb[m^lhk[uehkvbaj_q_gb_b\jZ]bgZrbkm^vb
Ghkdhev\gbfZl_evghgbijhkfZljb\Zebbgbi_j_ebklu\Zebhgbfhxdgb]mhgbg_gZoh^beb\g_c
gbq_]hqlh^Zeh[ubf\hafh`ghklvgZkh[hj_kf_ehh[\bgblvf_gybhgbhllygmebhkm`^_gb_
dgb]bdhlhjh]hmkbe_ggh^h[b\Zebkv^hhdhgqZgbykh[hjZY`_\l_q_gb_g_kdhevdbo^g_c^h
hldjulbykh[hjZklZei_j_^\k_fbim[ebqghbaeZ]Zlvk\h_mq_gb_hdZlhebq_kdhc\_j_kh]eZkghk
l_fqlhygZibkZeb\k_kemrZ\rb_f_gyk\hkobs_gb_fh^h[jyebdZdykghklvlZdbkfukefhbo
km`^_gbcAZf_lb\wlhgZjh^b^moh\_gkl\hgZqZeblZdjZkkm`^Zlvf_`^mkh[hchlhgl_i_jv
]h\hjbli_j_^\k_fbhldjulhbgbdlhgbq_]h_fmg_\hajZ`Z_lBkh[hjkdhjh[ebablkyd
hdhgqZgbxZhgbkha\Zglh[uedZdfukeurZeb]eZ\gufh[jZahfijhlb\wlh]hq_eh\_dZ
G_m`_ebkm^vbijbagZebqlhhgbaZ[em`^Zxlky[hevr_q_fhg"Ihwlhfmlhfhbkhi_jgbdbk
dZ`^uf^g_fjZkiZeyebkv\k_[hevr_b[hevr_
GZdhg_ph^gZ`^u:ev[_jbdijbr_edhfg_kg_kdhevdbfbk\hbfbmq_gbdZfbbgZf_j_\Zykv
mebqblvf_gyihke_g_kdhevdboevklb\uokeh\\ujZabek\h_m^b\e_gb_ihih\h^mh^gh]hf_klZ\
fh_cdgb]_Zbf_gghdZdyfh]ijbagZ\Zyqlh[h]jh^be[h]Zbqlh[h]_^bgl_fg_f_g__
hljbpZlvqlh[h]jh^bekZfh]hk_[y"GZwlhyg_f_^e_gghhl\_lbe?keb\u`_eZ_l_yijb\_^m\Zf
bg_gZrbfbkm`^_gbyfbghlhevdhkeh\ZfbZ\lhjbl_lZ:y\hajZabe_fmI_j_ebklZcl_dgb]mb
\ugZc^_l_Z\lhjbl_l
Dgb]Z`_[ueZih^jmdhcihlhfmqlhhgkZfijbg_k__YgZqZebkdZlvba\_klgh_fg_f_klhdhlhjh_
hgbebkh\k_fg_aZf_lbebebg_jZaukdZelZddZd\ubkdb\Ze\dgb]_lhevdhl_\ujZ`_gbydhlhju_
fh]eb[ufg_ih\j_^blv
K[h`v_cihfhsvxfg_m^Zehkv[ukljhgZclbg_h[oh^bfh_f_klhWlh[uehbaj_q_gb_
haZ]eZ\e_ggh_:\]mklbghljhbp_dgb]Z,Dlh^mfZ_l[m^lh[h]h[eZ^Z_lkihkh[ghklvxjh^blv
k_[ylhl]jm[haZ[em`^Z_lkylZddZdg_lhevdh[h]g_h[eZ^Z_llZdhckihkh[ghklvxghbgbdZdh_
^moh\gh_bebfZl_jbZevgh_kms_kl\h_^v\hh[s_g_llZdhc\_sbdhlhjZy[ukZfZk_[y
ihjh`^ZeZ
MkeurZ\wlhijbkmlkl\h\Z\rb_ijbjZa]h\hj_mq_gbdb:ev[_jbdZ^Z`_ihdjZkg_ebhl
aZf_rZl_evkl\ZHg`_kZf`_eZyohlvdZdgb[m^v\uimlZlvkybaaZljm^gbl_evgh]hiheh`_gby
kdZaZeWlhke_^m_l_s_ijZ\bevghihgylvGZwlhy\hajZabeqlh^Zggh_km`^_gb_g_gh\hbd
gZklhys_fm\hijhkmhghg_bf__lgbdZdh]hhlghr_gbygZqlhkZf:ev[_jbdihlj_[h\Zeg_
jZkkm`^_gbyihkms_kl\m\hijhkZZebrvZ\lhjbl_lgh]hk\b^_l_evkl\ZH^gZdh`__keb[u
:ev[_jbdih`_eZeh[km^blv^h\h^ub^hdZaZl_evkl\Zihkms_kl\mlhy]hlh\ihdZaZlv_fmgZ
hkgh\Zgbb_]h`_kh[kl\_gguokeh\qlhhg\iZe\lm_j_kvkh]eZkghdhlhjhchl_py\ey_lkyk\hbf
kh[kl\_ggufkughfMkeurZ\wlh:ev[_jbdlml`_ijbr_e\yjhklvbgZqZefg_m]jh`ZlvaZy\b\
qlh\wlhfkemqZ_fg_g_ihfh]mlgbdZdb_fhb^hdZaZl_evkl\ZbZ\lhjbl_luukdZaZ\wlmm]jhamhg
mr_e
�_ckl\bl_evgh\ihke_^gbc^_gvkh[hjZi_j_^hldjulb_faZk_^Zgbye_]ZlbZjob_ibkdhi^he]h
kh\_sZebkvkfhbfbijhlb\gbdZfbbg_dhlhjufb^jm]bfbebpZfbhlhfqlh`_ke_^m_l
ihklZgh\blvihih\h^mf_gybfh_cdgb]bjZ^bq_]h]eZ\gufh[jZahfhgbb[uebkha\ZguBlZd
dZdgb\fhbokeh\Zogb\ij_^klZ\e_gghcfh_cdgb]_hgbg_gZrebgbq_]hlZdh]hqlhfh]eb[u
\f_gblvfg_\\bgmlhgZg_dhlhjh_\j_fy\hpZjbehkvfheqZgb_b\jZ]bfhbklZebgZiZ^ZlvgZ
f_gyf_g__yjhklgh
Lh]^Z=hlnjb^_ibkdhiRZjljkdbc\u^_ey\rbckykj_^bhklZevguo_ibkdhih\keZ\hck\h_]h
[eZ]hq_klbybagZq_gb_fk\h_cdZn_^jugZqZej_qvlZdbfh[jZahfk_\uijbkmlkl\mxsb_a^_kv
\eZ^udbagZ_l_qlhmq_gb_wlh]hq_eh\_dZ dZdbf[uhggb[ue\fb\jh`^_gguclZeZgl_]h
ijhy\eyxsbcky\bamq_gbbbfex[hchljZkebagZgbyijbh[j_eb_fmfgh]hqbke_gguoklhjhggbdh\
bihke_^h\Zl_e_cbqlh_]hkeZ\Zkh\_jr_gghaZlfbeZkeZ\m_]hkh[kl\_gguobgZrbomqbl_e_c_]h
lZdkdZaZlv\bgh]jZ^gZyehaZjZkijhkl_jeZk\hbih[_]bhlfhjy^hfhjy?keb\uq_]hyg_^mfZx
h[\bgbl__]hgZhkgh\_aZjZg__\ug_k_ggh]hkm`^_gbylhagZcl_wlbf\uhkdhj[bl_fgh]bo^Z`_
\lhfkemqZ__kebhkm^bl_ihkijZ\_^eb\hklbG_[m^_lg_^hklZldZ\hfgh]boex^yodhlhju_
ih`_eZxl_]haZsbsZlvl_f[he__qlh\ij_^klZ\e_gghca^_kvdgb]_fug_fh`_fmkfhlj_lv
gbdZdh]hy\gh]hg_q_klbyBlZddZdmB_jhgbfZ_klvlZdh_f_klhY\gZykbeZbf__l\k_]^Z
aZ\bklgbdh\blZddZdba\_klgulZd`_keh\ZihwlZ
JZablfhegby
ukhqZcrb_]hju
lhkfhljbl_dZd[u\u_s_[hevr_g_mdj_ibeb_]h^h[jmxkeZ\mihklmib\djmlhbdZd[ufug_
kijZ\_^eb\hklb_^vdZdkdZaZelhevdhqlhgZa\Zggucmqbl_evp_jd\bEh`gZyfhe\Z[ukljh
bkq_aZ_lbihke_^mxsZy`bagvk\b^_l_evkl\m_lhij_^u^ms_c?keb`_\uij_^eZ]Z_l_ihklmiblv
kgbfihdZghgbq_kdbfijZ\beZflhimklv_]hmq_gb_bebdgb]Z[m^mlij_^klZ\e_gua^_kvbimklv
_fm[m^_l^ha\he_ghk\h[h^ghhl\_qZlvgZ\hijhkulZdqlh[uhgmebq_ggucbeb\ugm`^_ggucd
ihdZygbxkh\k_fmfhed
Wlh[m^_lkh]eZkghkl_fkm`^_gb_f[eZ`_ggh]hGbdh^bfZdhlhjuc`_eZyhk\h[h^blv]hkih^Z
kdZaZeHkm`^Z_lebgZraZdhgq_eh\_dZij_`^_q_f_]h\ukemrZxlbmagZxlqlhhg^_eZ_l"
ukemrZ\wlhfg_gb_fhbijhlb\gbdblhlqZk`_aZdjbqZebhllZdfm^juckh\_lkihjblvijhlb\
_]hdjZkghj_qby_^v\_kv[h`bck\_lg_kfh][uhijh\_j]gmlv_]h^hdZaZl_evkl\bebkhnbafh\
H^gZdh`_]hjZa^hljm^g_cg_khfg_ggh[uehkihjblvkkZfbfOjbklhf\ukemrZlvdhlhjh]hgZ
hkgh\ZgbbaZdhgZlj_[h\ZeGbdh^bf?ibkdhig_[m^mqb\khklhygbbkdehgblvbodijbgylbx
k\h_]hij_^eh`_gbyihiulZekyh[ma^Zlvbog_gZ\bklv^jm]bfkihkh[hfhgaZy\beqlh^ey
km`^_gbyhklhev\Z`ghf\hijhk_kh[jZgb_kebrdhffZehqbke_gghblZdh_^_ehlj_[m_l[he__
\gbfZl_evgh]hbkke_^h\Zgby
dhgp_dhgph\_ibkdhiihkh\_lh\Zeqlh[ufhcZ[[Zlijbkmlkl\mxsbcgZkh[hj_ij_ijh\h^be
�f_gyh[jZlgh\fh_Z[[Zlkl\hfhgZklujvK_g_gbblZf[uekha\Zgfgh]hqbke_gguckh[hj
mq_g_crboex^_c^ey\ug_k_gbyijb]h\hjZihke_lsZl_evgh]hbkke_^h\Zgby^Zggh]h\hijhkZK
wlbffg_gb_f_ibkdhiZkh]eZkbekye_]ZlZlZd`_b\k_hklZevgu_
AZl_fe_]Zl\klZe^eylh]hqlh[u^hgZqZeZaZk_^Zgbykh[hjZhlkem`blvh[_^gxbq_j_agZa\Zggh]h
_ibkdhiZi_j_^Zefg_ijbdZaZgb_\ha\jZlblvky\gZrfhgZklujvblZfh`b^Zlvbkiheg_gby
\ug_k_ggh]hj_r_gbyLh]^Zfhbijhlb\gbdbiheZ]Zyqlhhgbgbq_]hg_^h[vxlky_kebwlh^_eh
[m^_ljZa[bjZlvkyaZij_^_eZfbboZjog_ibkdhikl\Z]^_hgbjZamf__lkyg_kfh]mlijb[_]gmlvd
gZkbebxbg_^h\_jyykijZ\_^eb\hfmkm^m\gmrbebZjob_ibkdhimqlh^eyg_]h\_kvfZ
hkdhj[bl_evgh_kebwlh^_eh[m^_li_j_^Zgh\^jm]hckm^bhiZkgh_kebylZdbfh[jZahfba[_]gm
dZjuHgbk_cqZk`_ih[_`Zebde_]ZlmaZklZ\beb_]hbaf_gblvk\h_j_r_gb_bijhlb\\heb
\ugm^beb_]hkh]eZkblvkygZhkm`^_gb_fh_cdgb]b[_a\kydh]hjZkkfhlj_gbygZg_f_^e_ggh_b
im[ebqgh___kh``_gb_bgZ\_qgh_fh_aZdexq_gb_\^jm]hffhgZkluj_Hgb]h\hjbeb^ey
hkm`^_gbywlhcdgb]b\iheg_^hklZlhqghlh]hqlhyhkf_ebekyim[ebqghqblZlv__[_ah^h[j_gbykh
klhjhgujbfkdh]hiZiubeb^jm]hcp_jdh\ghc\eZklbb^Z`_kZfij_^eZ]Zefgh]bf__
i_j_ibku\Zlv
;m^_lydh[uqj_a\uqZcghihe_agh^eyojbklbZgkdhc\_ju_kebfhcijbf_jij_k_q_lih^h[gh_`_
\ukhdhf_jb_bmfgh]bo^jm]bo
E_]Zlg_h[eZ^Zyg_h[oh^bfufb[h]hkeh\kdbfbihagZgbyfbjmdh\h^kl\h\Zekyij_bfms_kl\_ggh
�fg_gb_fZjob_ibkdhiZZwlhlihke_^gbcke_^h\Zekh\_lZffhboijhlb\gbdh\h]Z^u\Zykvh
ijhbkoh^ys_f_ibkdhiRZjljkdbclhlqZk`_hk\_^hfbef_gyh[wlbodhagyobgZklhcqb\hm[_`^Ze
f_gyij_l_ji_lvwlhkl_f[hevr_cdjhlhklvxq_f[he__y\guf^ey\k_o[uehgZkbeb_bg_
khfg_\Zlvky\lhfqlhklhevhq_\b^gu_g_gZ\bklvbgZkbeb_ih\j_^ylfhbf\jZ]Zf\[m^ms_fZ
fg_ijbg_kmlihevambgbkdhevdhg_[_kihdhblvkyihih\h^maZdexq_gby\fhgZklujvlZddZdhg
agZ_lqlhe_]Zl\ug_krbcwlhlijb]h\hjihijbgm`^_gbxdhg_qghq_j_ag_kdhevdh^g_cihke_
k\h_]hhlt_a^Z ijbdZ`_l\fhk\h[h^blvf_gyLZd_ibkdhigZkdhevdhfh]ml_rZef_gybk_[ykZfh]h
Ijba\ZggucgZkh[hjyg_f_^eyy\bekylm^ZLZf[_a\kydh]hh[km`^_gbybjZkke_^h\Zgbyf_gy
aZklZ\bebk\h_ckh[kl\_gghxjmdhc[jhkblv\h]hgvfhxgZa\Zggmx\ur_dgb]mbhgZ[ueZlZdbf
h[jZahfkh``_gZ:qlh[ug_ihdZaZehkvqlhijbwlhfpZjbehihegh_fheqZgb_dlhlhbafhbo
ijhlb\gbdh\ijh[hjfhlZe[m^lhhgh[gZjm`be\wlhcdgb]_ml\_j`^_gb_qlh\k_fh]msh^bg
lhevdh[h]hl_pJZah[jZ\wlh[hjfhlZgv_e_]Zlk[hevrbfm^b\e_gb_fhl\_lbeqlhaZ[em`^Zlvky
^hlZdhckl_i_gbg_fh`_l^Z`_fZevqbrdZbqlhkdZaZehg\k_ojbklbZg_l\_j^hbkih\_^mxl
kms_kl\h\Zgb_lj_o\k_fh]msbo
MkeurZ\wlhg_dlhLv_jjbfZ]bkljh^ghcrdheukmkf_rdhcijb\_ekeh\Z:nZgZkbyBh^gZdh
\k_fh]msbg_ljh_ghh^bg\k_fh]ms?]h_ibkdhigZqZe[jZgblvbihjbpZlvLv_jjbaZlhqlhhg
ydh[uih\bg_g\h]homevkl\_Lh]^ZLv_jjbklZekf_eh\hajZ`ZlvbdZd[u\kihfbgZykeh\Z
�ZgbbeZkdZaZe
BlZd^hqvBajZbe_\mhkm^beb\ug_jZamfgu_kuguBajZbe_\ug_mf_xsb_km^blvbg_agZxsb_
bklbguha\jZlbl_kv\km^bkm^bl_kZfh]hkm^vxdhlhjh]h\ukZfbihklZ\beb^eyml\_j`^_gby
\_jubbkijZ\e_gbyaZ[em`^_gbcZdh]^Zhg^he`_g[uekm^blvhgh[\bgbek_[yk\hbfb
kh[kl\_ggufbmklZfbGug_`_fbehk_j^b_[h`v_hk\h[h`^Z_ly\ghg_\bggh]hdZdg_dh]^Z
KmkZggmhleh`guoh[\bgbl_e_cLh]^ZZjob_ibkdhi\klZebg_kdhevdhbaf_gb\\ujZ`_gby
khh[jZaghkh[klZgh\dhcih^l\_j^befg_gb_e_]ZlZkdZaZ\kZfhf^_e_h]hkih^b\k_fh]ms
hl_p\k_fh]mskug\k_fh]ms^mok\ylhcBdlhkwlbfg_kh]eZk_glhly\ghmdehgbekyhl\_jub
_]hg_ke_^m_lkemrZlv?kebm]h^ghkh[hjmlhohjhrhk^_eZ_lwlhl[jZlgZrbaeh`b\i_j_^\k_fb
gZfbk\h_\_jhmq_gb_^Z[ufufh]ebkhhl\_lkl\_gghh^h[jblvbebg_h^h[jblvbebbkijZ\blv
_]h
Dh]^Z`_y\klZekp_evxbkih\_^Zlvbbaeh`blvk\hx\_jmij_^iheZ]Zy\ujZablvk\hbqm\kl\Z
kh[kl\_ggufbkeh\Zfbfhbijhlb\gbdbh[ty\bebqlhhlf_gylj_[m_lkylhevdhh^ghijhq_klv
kbf\he \_ju\f:nZgZkbyqlhfh]hlebqghk^_eZlvex[hcfZevqbrdZ:qlh[uyg_fh]hl]h\hjblvky
g_agZgb_fkeh\wlh]hkbf\heZ\_e_ebijbg_klbjmdhibkv^eyijhql_gbydZd[m^lh[ufg_g_
kemqZehkv_]hijhbaghkblva^uoZyju^Zybijheb\Zyke_auyijhq_e_]hdZdlhevdhfh]AZl_f
f_gydZd[u\bgh\gh]hbmebq_ggh]hi_j_^ZebZ[[ZlmfhgZklujyk\ylh]hF_^Zj^Z
ijbkmlkl\h\Z\r_fmgZkh[hj_bg_f_^e_gghm\_aeb\_]hfhgZklujvdZd\lxjvfmLhlqZk`_[ue
jZkims_gbkh[hj
:[[ZlbfhgZobwlh]hfhgZklujyij_^iheZ]ZyqlhyhklZgmkvmgbob^Ze__ijbgyebf_gyk
\_ebqZcr_cjZ^hklvxbh[jZsZykvkhfghx\_kvfZex[_agh[_amki_rghklZjZebkvf_gyml_rblvH
[h`_ijZ\_^guckm^vyKdZdhc`_eqvx\k_j^p_kdZdhc^mr_\ghc]hj_qvxy[_amfguchkdhj[eye
lh]^Zl_[ykZfh]hbyjhklghgZiZ^ZegZl_[yg_ij_klZgghih\lhjyy\hijhk[eZ`_ggh]h:glhgby
Bbkmk_[eZ]hc=^_`_lu[ue"DZdh_fmqbehf_gy]hj_dZdhcklu^f_gykfmsZedZdh_
\hegh\ZehhlqZygb_\k_wlhyqm\kl\h\Zelh]^Zl_i_jv`_g_fh]mi_j_kdZaZlvYkjZ\gb\Zelhqlhy
l_i_jvi_j_ghkbekl_fbfmdZfbdhlhju_g_dh]^Zij_l_ji_ehfh_l_ehbkqblZek_[y
g_kqZklg_crbfba\k_oex^_cIj_`g__ij_^Zl_evkl\hij_^klZ\eyehkvfg_gbqlh`guf\kjZ\g_gbb
kwlhcgh\hch[b^hcBy]hjZa^h[he__h]hjqZekyhllh]hqlhhihjhqbebfh_^h[jh_bfyq_fhl
lh]hqlhbam\_qbebfh_l_eh\_^vlh]^Zy[ueg_dhlhjufh[jZahfkZf\bgh\Zll_i_jv`_y
ih^\_j]kyklhevy\ghfmgZkbebxbaaZqbkluogZf_j_gbcbex[\bdgZr_c\_j_dhlhju_ih[m^beb
QZklvlj_lvy
Ihke_lh]hdZdjZkijhkljZgbeZkvfhe\ZhlhfdZd`_klhdhbg_aZkem`_gghkhfghcihklmibeb\k_
klZebj_adhihjbpZlvijb]h\hjghg_dhlhju_baijbkmlkl\h\Z\rbogZkh[hj_klZjZebkvhldehgblv
�hlk_[yhl\_lkl\_gghklvbi_j_eh`blv__gZ^jm]boZ`_kZfbfhb\jZ]bgZqZebhljbpZlvqlhkh
fghclZdihklmibebihbokh\_lmZe_]Zlijb\k_oijbagZekyqlhhgj_rbl_evghhkm`^Z_laeh[m
njZgdh\ijhy\e_ggmx\wlhf^_e_GZoh^ykvih^\ebygb_ffhbo\jZ]h\hg[ue\ugm`^_g\j_f_ggh
mklmiblvboaeh[_ghih[m`^Z_fucjZkdZygb_fq_j_ag_kdhevdh^g_chlhkeZef_gyh[jZlghba
qm`h]hfhgZklujy\fhckh[kl\_gguc:lZfdZdym`_mihfygmeihqlb\k_hlghkbebkvdhfg_
\jZ`^_[gh]gmkgZy`bagvb[_kklu^gh_ih\_^_gb_aZklZ\eyebbokfhlj_lvgZf_gy\hh[s_k
ih^haj_gb_fbaaZfhbo`_h[ebq_gbchgbf_gykljm^hf\ughkbebB\hlq_j_ag_kdhevdhf_kyp_\
bfij_^klZ\beky[eZ]hijbylguckemqZck^_eZlvihiuldmih]m[blvf_gy
�H^gZ`^udh]^ZyqblZefg_kemqZcghihiZeZkvh^gZnjZaZbadhff_glZjb_\;_^ud_ygbyf
�Zihklheh\]^_hgml\_j`^Z_lqlhbhgbkbc:j_hiZ]bl[ueg_ZnbgkdbfZdhjbgnkdbf
_ibkdhihfWlhihdZaZehkv\_kvfZg_ijbylgufgZrbffhgZoZfiho\Zey\rbfkyl_fqlhhkgh\Zl_ev
�bofhgZklujybhgbkbcb_klvlhlkZfuc:j_hiZ]bl^_ygbydhlhjh]hk\b^_l_evkl\mxlhlhfqlhhg
[ueZnbgkdbf_ibkdhihfHlukdZ\wlhk\b^_l_evkl\h;_^uijhlb\hj_qb\r__gZr_fmfg_gbxydZd
[urmlyihdZaZewlmnjZamg_kdhevdbfgZoh^b\rbfkyih[ebahklbfhgZoZfHgbijbreb\
\_ebqZcr__g_]h^h\Zgb_h[ha\Zeb;_^mkZfufe`b\ufibkZl_e_fbijbagZeb[he__gZ^_`guf
k\b^_l_e_fk\h_]hZ[[ZlZObev^hgbydhlhjuc^he]himl_r_kl\h\Zeih=j_pbbkp_evx
bkke_^h\Zgbywlh]h\hijhkZbmklZgh\b\bklbgm\hibkZgguobf^_ygbyok\ylh]hkh\_jr_ggh
mkljZgbe\kydb_khfg_gbyihwlhfm\hijhkmAZl_fdh]^Zh^bgbafhbokh[_k_^gbdh\gZklhcqb\h
^hiulu\Zekymf_gyqv_k\b^_l_evkl\hihwlhfm\hijhkmij_^klZ\ey_lkyfg_[he__Z\lhjbl_lguf
;_^ubebObev^hgbyyhl\_lbeqlhfg_dZ`_lky[he__\_kdbfZ\lhjbl_l;_^Zljm^udhlhjh]h
ijbagZxlky\h\k_ceZlbgkdhcp_jd\b
Wlbfhl\_lhfykbevghbojZa^jZ`bebhgbgZqZebdjbqZlvqlhl_i_jvlhhgbf_gyy\gh
jZah[eZqbebqlhy\k_]^Z[ue\jZ]hfgZr_]hfhgZklujyZ\^ZgghfkemqZ_ly`dhhkdhj[beb\k_
dhjhe_\kl\hhljbpZyqlhbo fhgZoh\\fihdjh\bl_e_fy\ey_lky:j_hiZ]blqlhyhlgyemdhjhe_\kl\Z
q_klvdhlhjhchghhkh[_ggh]hj^blkyYhl\_lbeqlh\_^vg_yhljbpZewlhbf_gyfZehbgl_j_km_l
�[ueebk\ylhcbhgbkbc:j_hiZ]blhfbebd_flh^jm]bf\Z`ghebrvlhqlhhgm^hklhbekyhl[h]Z
\_gpZk\ylh]hH^gZdhhgblhlqZk`_ih[_`ZebdZ[[Zlmbi_j_^Zeb_fmkeh\Zdhlhju_hgb
ijbibku\Zebfg_:[[Zlhohlghbo\ukemrZejZ^mykvij_^klZ\b\r_fmkykemqZxihklZ\blvf_gy\
aZljm^g_gb_\_^y_s_[he__ihklu^guch[jZa`bagbq_f^jm]b_hgl_fkbevg__f_gyhiZkZeky
Kha\Z\fhgZklujkdmx[jZlbxhgh[jZlbekydhfg_k`_klhdbfbm]jhaZfbbaZy\beqlhhg
g_f_^e_gghhlijZ\blf_gyddhjhex^Z[ulhlgZdZaZef_gyaZlhqlhyebrbe_]h]hkm^Zjkl\hb_]h
�kZfh]h\_gpZkeZ\uhi_j_^ZqbdhjhexZ[[ZlijbdZaZekljh]hkl_j_qvf_gyFhyijhkv[Z
ih^\_j]gmlvf_gy_keby\q_fgb[m^vijh\bgbekyh[uqghfmgZdZaZgbxhklZeZkv[_amki_rghc
�Lh]^ZkbevghhiZkZykv\_jhehfkl\ZfhgZoh\K_g_gbbijb^y\kh\_jr_ggh_hlqZygb_ijbfukeb
qlhkm^v[Zf_gyklhev^he]hij_ke_^m_ldZd[m^lhijhlb\f_gy\hkklZe\_kvk\_lyijbkh^_ckl\bb
g_kdhevdbokhqm\kl\h\Z\rbofg_fhgZoh\bijbihfhsbg_dhlhjuofhbomq_gbdh\lZcghghqvx
m[_`ZebafhgZklujy\[ebae_`Zsb_\eZ^_gby]jZnZLb[h]^_yjZgvr_m`_`be\g_dh_cd_ev_
hagZq_gghch[eZklbyihk_ebekykgZqZeZ\aZfd_Ijh\_gZ\h^ghcbad_ebcfhgZoh\baLjmZ
gZklhyl_evdhlhjuo_s_jZgvr_[ue^jm`_gkhfghxbhq_gvf_gyex[behgkbevghh[jZ^h\Zeky
fg_bklZeh[jZsZlvkykhfghx\_kvfZex[_aghKemqbehkvh^gZ`^ulZdqlh\aZfhdijb_oZefhc
Z[[ZlihdZdbflhk\hbf^_eZfdmihfygmlhfm]jZnmMagZ\h[wlhfylZd`_y\bekyd]jZnm\f_kl_k
gZa\ZggufgZklhyl_e_fbklZeijhkblv]jZnZ_keb\hafh`gh\klmiblvkyaZf_gyi_j_^Z[[Zlhf
qlh[uhghlimklbef_gybiha\hebefg_`blvihfhgZr_kdb\ex[hfih^oh^ys_ff_kl_:[[Zlb_]h
kimlgbdbgZqZebkh\_sZlvky^jm]k^jm]hfihkdhevdmhgb^he`gu[ueb^Zlvhl\_l]jZnm^hk\h_]h
hlt_a^Z\lhl`_^_gvBfihdZaZehkvqlhy`_eZxi_j_clb\^jm]h_Z[[Zlkl\hbhgbijbagZebwlh
�\_kvfZhkdhj[bl_evguf^eyfhgZklujyK_g_gbHgbhq_gv]hj^bebkvl_fqlhijbihkljb`_gbb\
fhgZobyba[jZebf_gghbofhgZklujvbwlbfdZd[u\ujZabeij_aj_gb_dh\k_f^jm]bfZ[[Zlkl\Zf
Hgbml\_j`^Zebqlh_kebyhklZ\b\boi_j_c^md^jm]bffhgZoZfwlhgZg_k_lbf\_ebqZcr__
hkdhj[e_gb_Ihwlhfmh[m^h\e_l\hj_gbbfh_cijhkv[uhgbbkeurZlvgbq_]hg_ohl_ebgbhlf_gy
gbhl]jZnZb^Z`_klZeb]jhablvfg_hlemq_gb_f_kebyg_f_^e_gghg_\_jgmkv\bofhgZklujv:
gZklhyl_exddhlhjhfmy[_`ZehgbgZkljh]haZij_lbebm^_j`b\Zlvf_gy_kebhgg_ohq_l[ulv
hlemq_gguf\f_kl_khfghc
MkeurZ\h[wlhfbgZklhyl_evbyklZebkbevgh[_kihdhblvkyGhgZklZb\Z\rbcgZk\h_fZ[[Zl
kdhgqZekyq_j_ag_kdhevdh^g_cihke_k\h_]hhlt_a^ZLh]^Zyy\bekyd_]hij__fgbdm\f_kl_k
_ibkdhihfFhkijhkv[hcjZaj_rblvfg_k^_eZlvlhhq_fyoh^ZlZckl\h\Zei_j_^mf_jr_f
Z[[Zlhf
KgZqZeZb_]hij__fgbdg_kh]eZrZekym^h\e_l\hjblvfhxijhkv[mghaZl_fijbihkj_^kl\_
g_kdhevdbofhbo^jma_cyh[jZlbekyddhjhexb_]hkh\_lmblZdbfh[jZahf^h[beky`_eZ_fh]h
Wlv_gaZgbfZ\rbc\lh\j_fy^he`ghklvdhjhe_\kdh]hk_g_rZeZijba\Zedk_[_Z[[ZlZb_]h
ijb[eb`_gguobkijhkbeboaZq_fhgbohlylm^_j`Zlvf_gymk_[yijhlb\fh_c\hebmdZaZ\qlh
wlbfhgbfh]mllhevdh\ua\Zlvkfmlmbg_ihemqZlhlwlh]hgbdZdhcihevaub[hkh]eZkh\Zlvfh_b
boih\_^_gb_gbdZdg_evayYagZeh[bf_\r_fky\dhjhe_\kdhfkh\_l_fg_gbbhlhfqlhwlh
Z[[Zlkl\h^he`gh[uehih^qbgylvkydhjhexb^hklZ\eylv_fmfbjkdb_\u]h^ug_\abjZygZlhqlh
hgh\k_f_g__ke_^h\ZehmklZ\mIhwlhfmygZ^_yekye_]dhihemqblvkh]eZkb_dhjheyb_]h
kh\_lgbdh\gZfh_oh^ZlZckl\hLZdbijhbahrehH^gZdh^eylh]hqlh[ugZrfhgZklujvg_
ebrbekyijbh[j_l_gghcbfbaaZf_gykeZ\ufg_jZaj_rbebm^Zeblvky\ex[mximklugvihfh_fm
ba[jZgbxghkmkeh\b_fg_ih^qbgylvkygbdZdhfm^jm]hfmZ[[Zlkl\mGZwlh^Zebkh]eZkb_h[_
klhjhguih^l\_j^b\_]h\ijbkmlkl\bbdhjheyb_]hkh\_lgbdh\
BlZdym^Zebeky\m`_ba\_klgmxfg_imklugv\hdjm]_LjmZ]^_g_db_ebpZih^Zjbebfg_mqZklhd
a_febLZfkkh]eZkbyf_klgh]h_ibkdhiZy\ukljhbekgZqZeZbaljhklgbdZbkhehfufhe_evgx\h
bfyk\ylhcljhbpuIjh`b\Zy\m_^bg_gbbhlex^_c\f_kl_kh^gbfdebjbdhfyihbklbg_fh]
\hki_lvikZehf]hkih^mhl[_`Z\ym^Zebekybij_[u\Zx\imklug_MagZ\h[wlhffhb
mq_gbdbgZqZebhlh\kx^mkl_dZlvkydhfg_bihdb^Zy]hjh^ZbaZfdbk_eblvky\imklug_\f_klh
ijhklhjguo^hfh\kljhblvfZe_gvdb_ob`bgdb\f_klhbaukdZgguodmrZgbciblZlvky
ihe_\ufbljZ\Zfbbkmobfoe_[hf\f_klhfy]dboihkl_e_cmkljZb\Zlvk_[_eh`_bak_gZb
khehfuZ\f_klhklheh\^_eZlva_feygu_gZkuibLZdqlhlufh][uih^mfZlvqlhhgb
ih^jZ`Zxl^j_\gbfnbehkhnZfhdhlhjuoB_jhgbf\h\lhjhcdgb]_k\h_]hkhqbg_gbyIjhlb\
Klhebpmbl\_j^ugxmfZg_evay\aylvbgufiml_fdZd\lhj`_gb_fg_ijbyl_evkdh]h\hckdZqj_a
\jZlZ?kebdlheb[hgZkeZ`^Z_lkypbjdh\ufbb]jZfb[hjv[hckbeZq_c^\b`_gbyfbkdhfhjhoh\
`_gkdhcdjZkhlhc[e_kdhf^jZ]hp_gguodZfg_cjhkdhrvxh^_`^blilhqj_ahdgZhq_c\ie_g
[_j_lkyk\h[h^Z^mrbBbkihegy_lkyijhjhq_kl\hQj_ahdgZgZrb\hreZkf_jlv
BlZd_kebq_j_awlb\jZlZ\l\_j^ugxgZr_]hmfZ\lhj]ebkvlj_\heg_gbygZih^h[b_ZlZdmxs_]h
\hckdZlh]^_`_hdZ`_lkylh]^Zk\h[h^Z mfZ\f]^__]hkbeZ]^_ihfukeuh[h]_"hkh[_gghklb
dh]^Zqm\kl\hjbkm_ldZjlbgufbgm\rbogZkeZ`^_gbcZ\hkihfbgZgb_hihjhdZoih[m`^Z_l^mrmd
khqm\kl\bxbfbg_dhlhjufh[jZahfdkh\_jr_gbxlh]hqlhg_kh\_jrZ_lky\^_ckl\bl_evghklb
IhwlbfijbqbgZffgh]b_banbehkhnh\hklZ\bebfgh]hex^gu_]hjh^ZbaZ]hjh^gu_kZ^ukbo
lmqghcihq\hciurghcebkl\hc^_j_\v_\s_[_lZgb_filbpa_jdZevgufbbklhqgbdZfb`mjqZgb_f
jmq_cdZbfgh]bfbkh[eZagZfb^eyaj_gbybkemoZg_`_eZyqlh[ujhkdhrvbbah[beb_ijbylguo
\i_qZle_gbchkeZ[bebl\_j^hklv^mrbbhkd\_jgbeb__p_ehfm^jb_B\kZfhf^_e_[_kihe_agh
fgh]hdjZlgh\abjZlvgZlZdb_\_sbdhlhju_dh]^Zlhie_gyebl_[ybih^\_j]Zlvky\ha^_ckl\bxl_o
ij_^f_lh\ebr_gb_dhlhjuolui_j_ghkbrvkljm^hfIhlhfmlhibnZ]hj_cpum[_]Zyhl
fgh]hex^kl\Zh[uqgh`beb\m_^bg_gbbb\imklugguof_klZoBkZfIeZlhgq_eh\_d[h]Zluc
�eh`_dhlhjh]hbh]_gihibjZe]jyagufbgh]Zfb^eynbehkhnkdboaZgylbcbk\h_c:dZ^_fbb
ba[jZe\beemg_lhevdhm^Ze_ggmxhl]hjh^ZghbihjZ`_ggmxqmfhcaZl_fqlh[uh[ma^Zlv
ihju\ukljZkl_cihklhygghcm]jhahc[he_agbbqlh[u_]hmq_gbdbg_bkiulu\ZebgbdZdbobguo
m^h\hevkl\bcdjhf_m^h\hevkl\byhllh]hqlhhgbbamqZxlI_j_^ZxlqlhlZdhc`_h[jZa`bagb
\_ebbkuguijhjhq_kdb_mq_gbdb?ebk_yKZfB_jhgbfibr_lhgbodZdhfhgZoZolh]h\j_f_gbb
\k\h_fkhqbg_gbbDfhgZomJmklbdmf_`^mijhqbf]h\hjblKuguijhjhq_kdb_hdhlhjuofu
qblZ_f\_lohfaZ\_l_[uebih^h[gufhgZoZfkljhbebk_[_ob`bgu\[ebabj_dbBhj^ZgZb
hklZ\b\]hjh^Zbrmfgu_kdhie_gbyex^_ciblZebkvyqf_gghcdjmihcbihe_\ufbljZ\Zfb
LZdbfhbmq_gbdbihkljhb\k_[_ob`bgugZ[_j_]mj_db:j^xkkhgZdZaZebkvkdhj__
hlr_evgbdZfbg_`_ebrdheyjZfbGhq_f[hevr_ijb[u\Zehbo\wlmf_klghklvbq_fkmjh\_c[ue
h[jZa`bagbdhlhjuchgb\_ebihdZmf_gymqbebkvl_f[hevr_\]eZaZofhbo\jZ]h\wlh
ijbghkbehfg_keZ\uZbfkZfbfmgb`_gbyHgbk]hj_qvx\b^_ebqlh\k_ij_^ijbgylh_bfb
ijhlb\f_gyh[jZlbehkvfg_\h[eZ]hBlZdohlyih\ujZ`_gbxB_jhgbfZym^Zebekyhl]hjh^h\
iehsZ^_clheiubkihjh\\k_`_dZd]h\hjblD\bglbebZgaZ\bklvhlukdZeZf_gy^Z`_\fh_f
m_^bg_gbb
Fhbg_^jm]bfheqZ`Zemykvb\a^uoZy]h\hjbebk_[_hlaZgbfihr_ep_euck\_lbfug_
lhevdhg_\ub]jZebij_ke_^my_]hgh_s_[he__m\_ebqbeb_]hkeZ\mFuklZjZebkvij_^Zlv_]hbfy
aZ[\_gbxZgZ^_e_ebrvk^_eZeb_]h[he__]jhfdbf_^v\hlrdheyju\]hjh^Zobf_xl\k_
g_h[oh^bfh_ghij_g_[j_]Zxl]hjh^kdbfbm^h[kl\Zfbbkl_dZxlky\wlmimkluggmxf_klghklv
ijb_fey^h[jh\hevghgbs_lm^_ckl\bl_evghklb`_\aylvgZk_[y\lh\j_fyjmdh\h^kl\hrdhehc
f_gy\ugm^beZ]eZ\gufh[jZahfg_\ughkbfZy[_^ghklvlZddZddhiZlva_fexyg_bf_ekbeZ
ijhkblvfbehklugxklu^beky
BlZdy[ue^he`_g\f_klhlh]hqlh[u`blvljm^Zfbjmdk\hbo\gh\vaZgylvkyagZdhfuffg_^_ehf
bh[jZlblvkydmkem]Zfk\h_]hyaudZRdheyju`_klZebkgZ[`Zlvf_gy\k_fg_h[oh^bfufibs_c
bh^_`^hcaZ[hlbebkvh[h[jZ[hld_ihe_cbijbgyebgZk_[yjZkoh^uihihkljhcdZfqlh[ugbdZdb_
^Z`_bfZeh_dhebq_kl\hmq_gbdh\hgbihg_h[oh^bfhklbjZkrbjbebbagZqbl_evghmemqrbeb__
ihkljhb\badZfgyb^_j_\ZOhlyhgZb[ueZhkgh\ZgZZaZl_fhk\ys_gZ\hbfyk\ylhcljhbpu
ghlZddZdy[_`Zekx^Z\hlqZygv_Za^_kvihfbehklb[h`_kl\_ggh]hml_r_gby\a^hogme
g_kdhevdhk\h[h^g__lh\iZfylvh[wlhc[eZ]h^ZlbygZa\ZewlhlojZfIZjZde_lhf
Fgh]b_magZebh[wlhfk[hevrbfm^b\e_gb_fg_dhlhju_`_gZqZebj_adhihjbpZlvf_gy
ml\_j`^Zy[m^lhg_ijbebqghihk\ysZlvojZfbkdexqbl_evghk\ylhfm^momij_bfms_kl\_gghi_j_^
;h]hfhlphfbfh`ghkh]eZkghk^j_\gbfh[uqZ_fihk\ysZlvojZfubebh^ghfmlhevdhkugm
;h`bxbeb`_\k_cljhbp_\kh\hdmighklbIjbqbghxwlh]hg_khfg_ggh]haZ[em`^_gby[ueZbo
hrb[dZ[m^lh[ug_ljZaebqbyf_`^miZjZde_lhfb^mohfiZjZde_lhfF_`^ml_fbkZfZ
LjhbpZbdZ`^h_hl^_evgh___ebphfh`_l[ulvgZau\Z_fhdZd[h]hfbebihfhsgbdhflZdb
iZjZde_lhflh_klvbf_gghml_rbl_e_fkh]eZkghbaj_q_gbxZihklheZ;eZ]hkeh\_g[h]bhl_p
]hkih^ZgZr_]hBbkmkZOjbklZhl_pfbehk_j^byb[h]\kydh]hml_r_gbyml_rZxsbcgZk\h\kydhc
gZr_c]hj_klbBkZfZbklbgZ]eZkbllZdB^jm]h]hml_rbl_ey^Zklhg\Zf:lZddZd\kydZy
p_jdh\vhk\ysZ_lkyjZ\gh\hbfyhlpZbkugZbk\ylh]h^moZbijbgZ^e_`bl\k_flj_fbihklZkyf
[_ah\kydh]hf_`^mgbfbjZaebqbylhqlh`_ij_iylkl\m_lihk\ylblv^hf;h`bc;h]mhlpmlZd`_
dZd;h]m^momk\ylhfmb;h]mkugm"
Dlh^_jag_lmgbqlh`blvgZ^\oh^hf\^hfbfylh]hdhfmwlhl^hfijbgZ^e_`bl"Beb_kebKug
ijbg_kk_[y\`_jl\mHlpm\ke_^kl\b_q_]hbijbkh\_jr_gbbeblmj]bbfhebl\uh[jZsZxlky\
hkh[_gghklbdhlpmb_fm`_ijbghkblky`_jl\Zlhihq_fm`_g_ijbagZlvqlh`_jl\_ggbd
ihk\ys_gbf_gghlhfmddhfm]eZ\gufh[jZahfh[jZsZxlkykfhebl\ZfbbjZ^bdh]hkh\_jrZ_lky
`_jl\hijbghr_gb_"JZa\_g_ijZ\bevghqlh`_jl\_ggbdihk\ysZ_lkylhfmdhfmijbghkblky
`_jl\ZZg_lhfmdlhijbghkblky\`_jl\m"Beb[ulvfh`_ldlhgb[m^vklZg_lml\_j`^Zlvqlh
`_jl\_ggbdihk\ysZ_lkydj_klmOjbklh\mbeb]jh[m=hkih^gxbebk\ylhfmFboZbembebBhZggm
bebI_ljmbebdZdhfmeb[hbghfmk\ylhfmdhbfg_ijbghkblky`_jl\ubdhbkZfbg_ijbghkylky\
`_jl\mbddhbfg_h[jZsZxlkyijb`_jl\hijbghr_gbbkfhebl\Zfb"
h\kydhfkemqZ_^Z`_b^hehihdehggbdbkqblZebqlh`_jl\_ggbdbbebojZfuihk\ys_gul_f
dhfmhgbijbghkbeb`_jl\ubddhfmhgbh[jZsZebkvkfhe_gbyfbGhfh`_l[ulvdlhgb[m^v
kdZ`_lqlhb;h]mhlpmg_^he`ghihk\ysZlvgbojZfh\gb`_jl\_ggbdh\lZddZd_fmg_
mklZgh\e_ghdZdh]heb[hhkh[h]hijZa^gbdZH^gZdhwlhkhh[jZ`_gb_hlghkblky\_^vbdkZfhc
Ljhbp_ghg_hlghkblkydk\ylhfm^momkhr_kl\bxdhlhjh]hihk\ys_ghkh[ucijZa^gbd
iylb^_kylgbpulhqghlZd`_dZdijbr_kl\bx;h]ZkugZihk\ys_ghkh[ucijZa^gbdjh`^_kl\Z
Ojbklh\Z_^vdZd;h]mkugmihkeZgghfm\fbjlZdb;h]m^momk\ylhfmkhr_^r_fmgZ
mq_gbdh\[uemklZgh\e_ghkh[ucijZa^gbd
�Zbdhfm`_[he__ih^oh^blihk\ys_gb_ojZfZij_^^jm]bfbbihklZkyfbq_f^momk\ylhfm_keb
\gbfZl_evgh\gbdgmlv\mdZaZgbyZihklheh\b\^_ygbykZfh]hk\ylh]h^moZ_^vZihklheg_
ijbk\Zb\Z_lojZfZ^moh\gh]hgbdhfmbaebpk\ylhcljhbpu\hl^_evghklbdjhf_bf_gghk\ylh]h
^moZZihklheg_]h\hjblhojZf_;h]ZhlpZbeb;h]ZkugZ\lhf`_kfuke_dZdhojZf_k\ylh]h^moZ
gZibkZ\\i_j\hfihkeZgbbdhjbgnygZfDlhkh_^bgy_lkyk]hkih^hflhl_^bguc^mokgbfB
^Zevr_Beb\ug_agZ_l_qlh\Zrbl_eZkmlvojZfij_[u\Zxs_]h\\Zk^moZk\ylh]hdh_]h\u
bf__l_hl[h]Zbqlh\um`_g_k\hb"Dhfm`_g_ba\_klghqlhkh\_jrZ_fu_\p_jd\blZbgkl\Z
jZamf__lkyk\ylhc^mo"_^vfu\dj_s_gbb\hajh`^Z_fky\h^hxbk\yluf^mohfblhevdhihke_
wlh]hklZgh\bfkydZd[uhkh[ufojZfhf;h`vbf
^h\_jr_gb_gZfij_^hklZ\eyxlkyijZ\^Zk_fv^Zjh\[eZ]h^Zlbk\ylh]h^moZdhbfbk_c;h`bc
ojZfmdjZrZ_lkybhk\ysZ_lkyQlh`_m^b\bl_evgh]h_kebfuihk\ysZ_f\b^bfucojZflhfmebpm
Ljhbpudh_fmdZdijbagZ_lZihklheijbgZ^e_`blojZf^moh\guc"DZdhc`_bihklZkbijZ\bevg_c
ihk\ylblvp_jdh\vdZdg_lhc^_ckl\bxdh_cijbibku\Z_lky\kydZyih^Z\Z_fZy\ojZf_[eZ]h^Zlv"
ijhq_f\lh\j_fydh]^ZygZa\Zek\hxfhe_evgxIZjZde_lhfykgZqZeZ\h\k_g_^mfZeh[wlhfb
g_gZf_j_\Zekyihk\ylblvojZfh^ghfmebpmljhbpuZk^_eZewlhijhklhihlhcijbqbg_dhlhjmx
mdZaZe\ur_ygZa\Zefhe_evgxIZjZde_lhf\iZfylvhihemq_gghffghcml_r_gbbGh_keb[u
^Z`_y^_ckl\h\Zeihkhh[jZ`_gbyfdhlhju_fg_ijbibku\Zxllhwlh\k_`_g_ijhlb\hj_qbeh[u
jZamfmohlybhldehgyehkv[uhlh[uqZy
BlZdl_e_kghykdju\Zeky\mihfygmlhf\ur_f_kl_ghkeZ\ZfhyjZkijhkljZgyeZkvih\k_fmk\_lm
mih^h[eyykvlhfmqlhihwlbq_kdbc\ufuk_egZau\Z_lwohfbf_xsbffgh`_kl\h]hehkh\gh
gbq_]hfZl_jbZevgh]hFhbklZju_\jZ]bm`_g_bf_\rb_kZfbihk_[_\_kZ\ha[m^bebijhlb\f_gy
g_dbogh\uoZihklheh\dhlhjuf\k_qj_a\uqZcgh^h\_jyebBagboh^bgiho\Zeyekyl_fqlhhg
ij_h[jZah\Ze`bagvmklZ\guodZghgbdh\Z^jm]hc`bagvfhgZoh\
KljZgkl\myihk\_lmbijhih\_^mywlb^\Zq_eh\_dZ[_kklu^ghb`_klhdhgZiZ^ZebgZf_gyb
gZkdhevdhfh]ebmki_ebk^_eZlvf_gygZg_dhlhjh_\j_fyij_^f_lhfg_gZ\bklbg_lhevdh^moh\guo
ghbk\_lkdbo\eZkl_cWlb^\h_jZkijhkljZgyebhfh_c\_j_bhfh_c`bagblZdb_^mjgu_kemobqlh
hlf_gyhl\_jgmebkv^Z`_kZfu_[hevrb_fhb^jmavyl_`_ba^jma_cdhlhju_\k_lZdb_s_
khojZgbeb\dZdhclhf_j_ex[h\vdhfg_klZeb\kyq_kdbkdju\Zlv__bakljZoZi_j_^mihfygmlufb
ebpZfb
;h]k\b^_l_ev\kydbcjZadZdymagZ\Zehkhau\_dZdh]heb[hkh[jZgbyebp^moh\gh]ha\Zgbyy
iheZ]Zeqlhhghkhau\Z_lky^eyfh_]hhkm`^_gbyhp_i_g_gbbdZd[ui_j_^m^ZjZfb
gZ^\b]Zxs_cky]jhauyh`b^Zeqlhf_gy\hl\hlihlZsZlgZkh[hjdZd_j_lbdZg_q_klb\pZbeb
hlklmigbdZB_keb^himklbfhkjZ\g_gb_[ehobkhev\hfbfmjZ\vykhkehghflhfhb\jZ]b
ij_ke_^h\Zebf_gykg_f_gvrbfh`_klhq_gb_fq_fg_dh]^Z_j_lbdb[eZ`_ggh]h:nZgZkby
;h]mba\_klghdZdqZklhy\iZ^Ze\hlqZygb_bihfureye^Z`_h[_]kl\_baojbklbZgkdh]hfbjZbh
i_j_k_e_gbbdyauqgbdZfqlh[ulZfkj_^b\jZ]h\OjbklZih^mkeh\b_fmieZludZdhcgb[m^v^Zgb
kihdhcgh`blvihojbklbZgkdb
YiheZ]Zeqlhyauqgbdbhlg_kmlkydhfg_l_f[eZ]hkdehgg__q_ff_g__hgb[m^ml\b^_lv\hfg_
ojbklbZgbgZ\ke_^kl\b_ijbibku\Z_fuofg_ij_klmie_gbcb[m^mlgZ^_ylvkye_]dhkdehgblvf_gyd
k\h_c\_j_
B\hl\lh\j_fydh]^Zy[_kij_klZgghbfmqbl_evghi_j_`b\Zewlblj_\heg_gbybih^mfu\Zem`_\
djZcghklbbkdZlvojbklbZgkdh]hm[_`bsZm\jZ]h\OjbklZy\hkihevah\ZekykemqZ_fdhlhjucdZdy
h`b^Zefh][u\ba\_klghcf_j_mf_gvrblvdh\Zjkl\hfhbog_^jm]h\Ghyhqmlbeky\jmdZo
ojbklbZgb^Z`_fhgZoh\g_kjZ\g_ggh[he__k\bj_iuobkd\_jguoq_fyauqgbdb;j_lZgb\
_ibkdhikl\_ZggkdhfgZoh^bekyfhgZklujvk\
=bev^ZabyJxbkdh]hhklZ\rbcky[_agZklhyl_ey\ke_^kl\b__]hkf_jlby[ueijba\Zglm^Z\
dZq_kl\__]hij__fgbdZ_^bgh]eZkgufj_r_gb_f[jZlbbGZfh_ba[jZgb_[uehihemq_ghkh]eZkb_
LZdbfh[jZahfg_gZ\bklvnjZgpmah\m^ZebeZf_gygZaZiZ^ih^h[ghlhfmdZdg_gZ\bklvjbfeyg
ba]gZeZB_jhgbfZgZ\hklhd
;h]k\b^_l_evygbdh]^Zg_kh]eZkbeky[ugZwlhba[jZgb__keb[udZdykdZaZemf_gyg_[ueh
g_h[oh^bfhklbba[Z\blvkyhl[_kij_klZgghi_j_ghkbfuofghcijbl_kg_gbcH[eZklvlZ
^_ckl\bl_evgh[ueZ\Zj\ZjkdhcyaudZ__`bl_e_cyg_agZeihklu^gZybg_h[ma^ZggZy`bagv
fhgZoh\\mihfygmlhffhgZkluj_[ueZihqlb\k_fohjhrhba\_klgZZ`b\msbc\wlhch[eZklb
gZjh^[ue^bdbfbg_mdjhlbfufIh^h[ghq_eh\_dmdhlhjuckljZrZkvaZg_k_ggh]hgZ^gbff_qZ
[jhkZ_lky\ijhiZklvbhlkjhqb\gZk_dmg^mh^gmkf_jlvgZoh^bl^jm]mxykhagZl_evgh[jhkbeky
hlh^ghchiZkghklbd^jm]hcblZfgZ[_j_]maeh\_s_]m^ys_]hhd_ZgZ^hklb]gm\]jZgbpua_febb
m`_g_bf_y\hafh`ghklb[_`Zlv^Zevr_yqZklhih\lhjye\k\hbofhebl\Zoau\Zxdl_[_hl
dhgpZa_feb\mgugbbk_j^pZfh_]hY^mfZxl_i_jvm`_\k_fba\_klghdZdhxlj_\h]hxl_jaZehkv
fh_k_j^p_b^g_fbghqvxijbfukebhlhfkdhevg_ihkemrgmx[jZlbxijbgyeyih^k\h_
�mijZ\e_gb_bdZdZyhiZkghklvm]jh`Z_lihwlhfmb^mr_fh_cbfh_fml_emeyf_gy[ueh
kh\_jr_gghykghqlh_keby[m^maZklZ\eylvwlboex^_c\_klb\kbemijbg_k_gguobfbh[_lh\
khhl\_lkl\mxsmxfhgZr_kdhfmmklZ\m`bagvykZfg_hklZgmkv\`b\uo?keb`_yg_[m^mihf_j_
fhbokbebkihegylvk\hbh[yaZgghklblhy[m^m^hklhbg\_qgh]hhkm`^_gbyH^bg\eZklbl_ev
\_kvfZfh]ms_kl\_gguc\^Zgghch[eZklb\hkihevah\Z\rbkv[_kihjy^dZfb\wlhffhgZkluj_^Z\gh
m`_ih^qbgbe_]hk_[_bbkihevah\Ze\k_ijbgZ^e_`Zsb_fhgZklujxa_feb\k\hbobgl_j_kZoZ
fhgZoh\ijbl_kgyelj_[myhlgbobkiheg_gby[he__ly`dboih\bgghkl_cq_fl_dhlhju_
lj_[h\Zebkvg_dh]^Zhlbm^_ckdbo^Zggbdh\FhgZobgZklhyl_evghijhkbebf_gym^h\e_l\hjblvbo
ih\k_^g_\gu_gm`^ughg_bf_ebgbdZdh]hh[s_]hbfms_kl\ZaZkq_ldhlhjh]hyfh][ubf
ihfhqvdZ`^ucbafhgZoh\kh^_j`ZekZfk_[yk\hbogZeh`gbpkugh\_cb^hq_j_caZkq_lkj_^kl\
[u\rbog_dh]^Z_]hkh[kl\_ggufbFhgZobjZ^h\Zebkvdh]^Z\b^_ebqlhhlwlh]hybkiulu\Zx
lj_\h]mkZfb`_djZebblZsbeb\k_qlhfh]ebklj_fykv_kebyg_kijZ\exkvkmijZ\e_gb_fbfb
aZklZ\blvf_gyeb[hhkeZ[blv^bkpbiebgmeb[hkh\k_fhlgbomclbBlZddZd`bl_eblhc
h[eZklb[ueb\hh[s_[_aaZdhggbdZfbbg_ihdhjgufb\Zj\ZjZfblhg_[uehlZfex^_cddhlhjufy
fh][uh[jZlblvkyaZihfhsvxZgjZ\u\k_o`bl_e_clhch[eZklb[uebfg_kh\k_fqm`^ug_
fhgZklujyf_gyihklhygghijbl_kgyebmihfygmluc\eZklbl_evb_]hijbki_rgbdbZ\gmljb
fhgZklujyijhlb\f_gy[_kij_klZgghkljhbeZdhagb\ky[jZlbylZdqlhkZfoh^kh[ulbcihdZaZe
qlhbf_gghdhfg_ijbf_gbfukeh\ZZihklheZBa\g_gZiZ^_gby\gmljbkljZob
K]hj_qvxjZafureyeyhlhfkdhev[_kihe_agmxb`Zedmx`bagvy\_^mkdhev[_kieh^gZhgZ^ey
f_gykZfh]hb^ey^jm]bo\lh\j_fydZdij_`^_yijbghkbelZdmxihevamdebjbdZfZl_i_jv
hklZ\b\bojZ^bfhgZoh\ygb\q_fg_fh]m[ulvihe_a_ggbl_fgb^jm]bfk_fhbgZqbgZgbyb
klZjZgbyhdZau\Zxlky[_amki_rgufbbdhfg_\iheg_kijZ\_^eb\hfh`ghhlg_klbmij_d
Wlhlq_eh\_dgZqZekljhblvghg_fh]hdhgqblvYijboh^be\ihegh_hlqZygb_\kihfbgZyhl
q_]hy[_`Zeb^mfZyqlhygZk_[ygZ\e_dKqblZyk\hbij_`gb_aehdexq_gbyihqlbgbqlh`gufby
qZklhkh\a^hoZfb]h\hjbek_[_
Yl_jiexihaZkem]ZfaZlhqlhihdbgmeIZjZde_llh_klvml_rbl_eyb\\_j]k_[y\ihegh_
h^bghq_kl\h`_eZyba[_]gmlvm]jhayhqmlbeky\y\ghchiZkghklbHkh[_ggh`_ijbkdhj[ghfg_
[uehlhqlhihdbgm\fhxfhe_evgxym`_g_fh]aZ[hlblvkyh[hlijZ\e_gbblZf[h`_kl\_gghc
^Z\ZeZ\hafh`ghklvijh`blvlZf^Z`_h^ghfmq_eh\_dm
H^gZdh`_ohlyybijboh^be\hlqZygb_ihwlhfmih\h^mkZfbklbggucml_rbl_evih^Zefg_
\_ebdh_ml_r_gb_bkZfihaZ[hlbekyhk\h_cfhe_evg_:bf_gghkemqbehkvlZdqlhgZrZ[[Zl
�fhgZklujyK_g_gbkmf_eaZo\Zlblv\k\hbjmdbmihfygmlh_\ur_Z[[Zlkl\h:j`Zgl_cev]^_
ihkljb]eZkv\fhgZobgbl_i_jvm`_kdhj__g_`_gZfhyZk_kljZ\hOjbkl_WehbaZwlh[ueh
�k^_eZghih^l_fij_^eh]hfqlh:j`Zgl_cevdh]^Zlh^Z\ghih^qbgyeky\eZklbfhgZklujyK_g_gb
AZo\Zlb\:j`Zgl_cevZ[[ZlgZkbevkl\_gghba]gZebag_]hlmh[sbgmfhgZobgvgZklhyl_evgbp_c
dhlhjhcy\eyeZkvfhy[u\rZyih^jm]ZBa]gZggbpujZkk_yebkv\jZagu_klhjhgubyihgyeqlhwlh
]hkih^vij_^hklZ\befg_[eZ]hijbylguckemqZcihaZ[hlblvkyhgm`^Zofh_cfhe_evgb
B\hlhlijZ\b\rbkvlm^Zyijb]eZkbei_j_k_eblvky\\ur_gZa\Zggmxfhe_evgxWehbamb^jm]bo
hklZ\rboky\_jgufb_cfhgZobgvba__h[sbguihke_`_boi_j_k_e_gbyyih^Zjbe_cwlm
fhe_evgx\f_kl_kh\k_fbfms_kl\hf_cijbgZ^e_`ZsbfaZl_fkkh]eZkbybihoh^ZlZckl\m
f_klgh]h_ibkdhiZiZiZBgghd_glbc,,hkh[hc^Zjkl\_gghc]jZfhlhcml\_j^befh_^Zj_gb_\ihevam
wlbofhgZobgvbboij__fgbpIjZ\^Z\gZqZe_hgb`beb[_^ghZih\j_f_gZf\[hevrhc]hj_klb
Gh\kdhj_[h`_kl\_ggh_fbehk_j^b_dhlhjhfmhgblZdgZ[h`ghkem`bebboml_rbehDgbf
kgbahr_ebklbggucIZjZde_lih^\ha^_ckl\b_fdh_]h\k_hdj_klgh_gZk_e_gb_klZehkhqm\kl\h\Zlv
wlbffhgZobgyfbhlghkblvkydgbf[eZ]hkdehgghByiheZ]Zx bklbggh`_ijhwlh\_^Z_llhevdh
;h]\fqlh\l_q_gb_dZdh]hgb[m^v]h^Zboa_f_evgu_\eZ^_gbym\_ebqbebkv[hevr_q_f
m\_ebqbebkv[u\l_q_gb_klZe_l_keb[ulZfhklZekyy_^v`_gsbgukeZ[__fm`qbgZihwlhfm
gm`^u`_gsbge_]q_\uau\Zxl\ex^yokhqm\kl\b_Z`_gkdZy^h[jh^_l_evijbylg_cb[h]mb
ex^yf
=hkih^m[uehm]h^gh\gmrblv\k_fex^yflZdmx[eZ]hkdehgghklvdgZr_ck_klj_gZklhyl_evgbp_
qlh_ibkdhiuex[beb__dZd^hqvZ[[ZludZdk_kljmZfbjyg_dZdfZlvb\k_\hh[s_
m^b\eyebkv__[eZ]hq_klbx[eZ]hjZamfbxbl_ji_gbxdhlhju_hgZkhojZgyeZijb\k_o
h[klhyl_evkl\ZoQ_fj_`_hgZihdZau\ZeZkvqlh[um_^bgb\rbkv\k\h_cd_ev_k[hevr_c
qbklhlhc^mrbij_^Z\ZlvkygZ[h`gufjZafure_gbyfbfhebl\Zfl_f[he__\k_ijboh^b\rb_d
g_cba\g_^h[b\Zebkvh[s_gbykg_xb__gZklZ\e_gbc\^moh\guo[_k_^Zo
Ihkdhevdm\k_khk_^bh[sbgu\kyq_kdb\bgbebf_gy\lhfqlhyih^^_j`b\ZewlbofhgZobgv\
gm`^_f_gvr_q_ffh]b^he`_g[uewlh^_eZlv l_f[he__qlhye_]dhfh][uihfhqvbf
gZijbf_jk\h_cijhih\_^vx\fyklZeqZs_ijb_a`Zlvdgbfklj_fykvl_fbeb^jm]bf[ulvbf
ihe_agufGhbwlh\ua\Zehkie_lgbbag_gZ\bklbdhfg_l_fhb^_ckl\bykh\_jrZlvdhlhju_
ih[m`^ZeZf_gyfhybkdj_ggyy[eZ]h`_eZl_evghklvh[uqgZygbahklvfhbo\jZ]h\k^_eZeZ
ij_^f_lhf[_kklu^guoh[\bg_gbc]h\hjbeb[m^lh[uy\k__s_h^_j`bfh[hevs_gbyfbiehlkdhc
kljZklblZdqlh_^\Zfh]mbkdhj__^Z`_kh\k_fg_fh]mhklZ\Zlvky\jZaemd_kfh_c[u\r_c
\haex[e_gghcBfg_qZklh\kihfbgZehkvk_lh\Zgb_[eZ`_ggh]hB_jhgbfZdhlhjucibkZeh
eh`guo^jmavyo\ibkvf_d:a_ee_Gbq_]hfg_g_klZ\yl\mij_ddjhf_fh_]hiheZ^Zb\wlhfg_
mij_dgmeb[u_keb[u\B_jmkZebfg_kh[bjZeZkvIZmeZB^Ze__B_jhgbf]h\hjblIhdZyg_
agZe^hfZk\ylhcIZmeuih\k_fm]hjh^mjZa^Z\Zebkviho\Zevgu_hlau\uh[hfg_bihqlbih
\k_h[s_fmfg_gbxyijbagZ\Zeky^hklhcguf\_joh\gh]hk\ys_ggh]hkZgZGhyagZxqlhfh`gh
^hklb]gmlvpZjkl\Zg_[_kgh]hbijb^h[jhcbijb^mjghckeZ\_
q_eh\_dZygZr_eg_fZeh_ml_r_gb_]h\hjyk_[_ke_^mxs__H_keb[ufhb\jZ]bgZreb\hfg_
ih\h^^eyih^h[gh]hih^haj_gbydZdhcq_jghxde_\_lhxhgbij_ke_^h\Zeb[uf_gyL_i_jv`_
dh]^Z[h`_kl\_ggh_fbehk_j^b_m`_hk\h[h^behf_gyhlih^h[gh]hih^haj_gbyebrb\kihkh[ghklb
kh\_jrZlvihklu^gh_lhdZdh_`_fh`_l\hagbdgmlvih^haj_gb_"Bqlh`_agZqblwlhgh\h_
[_kkh\_klgh_h[\bg_gb_ijhlb\f_gy"Fh_l_e_kgh_khklhygb_\]eZaZo\k_ohqbsZ_lf_gyhl
\kydh]h]gmkgh]hih^haj_gby_^v_kebdlheb[h`_eZ_lmklZgh\blvhkh[_gghkljh]bcgZ^ahjaZ
`_gsbgZfblhijbklZ\ey_ldgbf_\gmoh\lZdih\_kl\m_lk\ys_ggZybklhjbyh[Wknbjbbijhqbo
gZeh`gbpZopZjy:]Zk\_jZFuqblZ_fqlh\k_fbkhdjh\bsZfbpZjbpuDZg^ZdbckdhcaZ\_^h\Ze
_\gmodhlhjh]hZg]_eih\_e_eZihklhemNbebiimh[jZlblv\bklbggmx\_jmbdj_klblv
;h]h[hyag_ggu_bihql_ggu_`_gsbgul_f[hevr_qlbeblZdboex^_cbm^hklZb\Zebbok\h_c
[ebahklbq_f^Zevr_hgb[uebhl\kydh]hih^haj_gby
Dgb]Z9,P_jdh\ghcbklhjbbkh^_j`bljZkkdZahlhfdZd\_ebqZcrbcojbklbZgkdbcnbehkhn
Hjb]_g`_eZygZklZ\eylv`_gsbg\k\ylhfmq_gbbkZfgZg_kk_[_m\_qv_qlh[um`_kh\_jr_ggh
hlkljZgblvhlk_[yih^h[gh_ih^haj_gb_Y^Z`_kqblZeqlh[h`_kl\_ggh_fbehk_j^b_ijhy\behdh
fg_[hevr_\gbfZgbyq_fdg_fm\_^vhgdZdkqblZ_lky^_ckl\h\Zeg_^hklZlhqgh[eZ]hjZamfghb
ihlhfmgZ\e_dgZk_[yg_fZeu_h[\bg_gby\fh_f`_kemqZ_[h`_kl\_ggh_fbehk_j^b_k^_eZehf_gy
k\h[h^gufbih^]hlh\e_ggufdih^h[ghfm`_aZgylbx\j_amevlZl_\bgu^jm]bobkl_ff_gvrbfb
fmq_gbyfbqlhbam\_qbebf_gy\g_aZighh[tylh]hkghfbyihqlbg_qm\kl\h\ZegbdZdhc[heb
ijbqbg_gghcfg_qm`bfbjmdZfbGh_keblh]^Zyebrv\keZ[hckl_i_gbqm\kl\h\Ze[hevhljZgu
lhl_i_jvykljZ^Zx]hjZa^h[hevr_hlmgb`_gbybkbevg__fmqZxkvhlde_\_lu\ha\h^bfhcgZfh_
^h[jh_bfyq_fhlgZg_k_ggh]hfh_fml_emm\_qvyB[hgZibkZghEmqr_^h[jh_bfyq_f[hevrh_
[h]Zlkl\h
B[eZ`_gguc:\]mklbg]h\hjbl\k\h_cijhih\_^bH`bagbbgjZ\Zo^moh\_gkl\ZDlh
^h\_jy_lkyk\h_ckh\_klbbij_g_[j_]Z_lfg_gb_fhk_[_lhl`_klhd:g_kdhevdh\ur_hg`_
]h\hjbl;m^_fijhy\eylvk\hb^h[ju_k\hckl\Zihkeh\mZihklheZg_lhevdhij_^[h]hfghbij_^
�ex^vfbeygZkkZfbo^hklZlhqghgZr_ckh[kl\_gghckh\_klbjZ^b`_^jm]bokeZ\ZgZrZg_
^he`gZaZl_fgylvkygh^he`gZ\hajZklZlvKh\_klvb^h[jZykeZ\ZwlhjZaebqgu_\_sbKh\_klv
^eyl_[yZkeZ\Z^ey[eb`g_]h:_keb[ukZfOjbklhkb_]hihke_^h\Zl_ebijhjhdbZihklheub
^jm]b_k\ylu_hlpu\h\k_g_bam\_q_ggu_`beb[u\h^gh\j_fykfhbfb\jZ]Zfbbihke_^gb_
m\b^_eb[ubo\[ebadhc[_k_^_]eZ\gufh[jZahfk`_gsbgZfbdZdbo[uf_jahkl_cihk\h_caeh[_
g_gZ]h\hjbebfhb\jZ]bhOjbkl_b_]hihke_^h\Zl_eyo"_^vb[eZ`_gguc:\]mklbg\k\h_cdgb]_
H^_ygbbfhgZoh\mdZau\Z_lqlhg_dhlhju_`_gsbguklZebg_jZaemqgufbkimlgbpZfb]hkih^Z
BbkmkZOjbklZbZihklheh\bke_^h\ZebaZgbfb^Z`_gZijhih\_^v:\]mklbg]h\hjblKgbfbreb
\_jgu_`_gsbguh[eZ^Z\rb_a_fgufb[eZ]ZfbbiblZebboqlh[uhgbg_bkiulu\Zebgm`^ugb\
q_fg_h[oh^bfhf^eyih^^_j`Zgby`bagb
:_kebdlhg_\_jblqlhlZd^_eZebZihklheukljZgkl\myjZ^bijhih\_^b?\Zg]_eby\[_a]j_rghf
h[s_gbbk`_gsbgZfblhlimklvihkemrZ_l_\Zg]_eb_bmagZ_lqlhZihklheuihklmiZeblZdih
ijbf_jmkZfh]h]hkih^Z_^v\?\Zg]_ebbgZibkZghAZl_fbkZfhgijhoh^beih]hjh^Zfb
k_e_gbyfijhih\_^myb[eZ]h\_kl\mypZjkl\b_;h`b_Zkgbf^\_gZ^pZlv Zihklheh\\fbg_kdhevdh
`_gsbgbkp_e_gguohlaeuo^moh\b[he_ag_cFZjbygZjbpZ_fZyFZ]^ZebghcBhZggZ`_gZ
fh]ebBiZiZE_\,;kdZaZe\k\h_fkhqbg_gbbijhlb\ihkeZgbyIZjf_gbZgZHklj_fe_gbb\
fhgZklujvFuijbagZ_f\hh[s_qlh_ibkdhimij_k\bl_jm^bZdhgmbbih^bZdhgmg_
iha\hey_lkyhlj_dZlvkyhlaZ[hluhkh[kl\_gghc`_g_ih^ij_^eh]hfihk\ys_gbyk_[y^_em\_ju
_kebwlhdZkZ_lkyh[_ki_q_gby`_guibs_cbh^_`^hcZg_iehlkdh]hkh`bl_evkl\ZFuqblZ_fm
[eZ`_ggh]hIZ\eZqlhlZdihklmiZebbk\ylu_ZihklheuJZa\_fug_bf__f\eZklbbf_lv
kimlgbp_ck_kljm`_gmdZd[jZlvy]hkih^gbbDbnZ"H[jZlb\gbfZgb_g_jZamfgucqlhZihklhe
g_kdZaZe
JZa\_fug_bf__f\eZklbh[gbfZlvk_kljm`_gmZkdZaZebf_lvkimlgbp_cbbf_ggh^eylh]h
qlh[uaZk\hxijhih\_^vihemqZlvhlgboijhiblZgb_Zg_aZl_fqlh[u\klmiZlvkgbfb\iehlkdh_
h[s_gb_
Dhg_qghlhlnZjbk_cdhlhjuc\^mr_ihfureyeh]hkih^_?keb[uhg[ueijhjhdhflhagZe[u
dlhbdZdZy`_gsbgZijbdhkgmeZkvdg_fmb[hhgZ]j_rgbpZ\kbemkeZ[hklbq_eh\_q_kdh]h
km`^_gbyfh]kdhj__lZd^mjghih^mfZlvhOjbkl_q_ffhb\jZ]bij_^iheZ]Zlvihklu^gh_h[hfg_
beblhldlh\b^_edZdOjbklhkihjmqbek\hxfZlvxghr_bebdZdijhjhdbihk_sZeb\^h\bpb
jZa^_eyebboh[s_kl\hfh][uk[hevr_x\_jhylghklvxgZhkgh\Zgbbwlh]h\hauf_lvih^h[gh_
ih^haj_gb_
:qlh[ukdZaZebwlbfhbomebl_eb_keb[uhgbm\b^_ebdZdaZo\Zq_gguc\ie_gfhgZoFZeoh
dhlhjhfibr_l[eZ`_ggucB_jhgbf`be\h^ghcd_ev_k`_ghcdZdhfij_klmie_gbbhgb
h[\bgbeb[uFZeoZgZhkgh\Zgbblh]hhq_f\u^Zxsbckymqbl_evp_jd\b]h\hjblk[hevrhc
iho\ZehcLZf[ueh^bgklZj_pihbf_gbFZeof_klgucmjh`_g_pB\_]hd_ev_`beZklZjmoZ
h[Zhgb[uebbkiheg_guj_\ghklbd\_j_blZdmk_j^ghihk_sZebp_jdh\vqlhfh`gh[ueh[u
ih^mfZlvqlhwlh_\Zg]_evkdb_AZoZjbyb?ebaZ\_lZlhevdh\hlf_`^mgbfbg_[uehBhZggZ
Ihq_fm`_fhb\jZ]b\ha^_j`b\Zxlkyhlde_\_lugZk\yluohlph\hdhlhjuofuqZklhqblZ_fqlh
hgbmkljZb\ZeblZd`_`_gkdb_fhgZklujbbmijZ\eyebbfbbkZfbgZ[ex^Z_fwlh"H[jZlbfkyd
ijbf_jmk_fb^bZdhgh\ihklZ\e_gguoZihklheZfb\f_klhk_[y^eyaZ[hlhijhiblZgbbb^ey
ihi_q_gbyh`_gsbgZo_^vbf_gghkeZ[ucihegm`^Z_lky\ihfhsbkbevgh]hiheZihlhfmlh
ZihklhebmklZgZ\eb\Z_lqlhfm`^he`_g[ulvdZd[u]eZ\hx`_gub\agZdwlh]hij_^ibku\Z_l
`_gsbgZfbf_lv\k_]^Z]heh\mihdjulhcIhwlhfmyg_fZehm^b\eyxkvm`_^Z\ghmdhj_gb\r_fmky
\fhgZklujyoh[uqZxklZ\blvgZ^`_gsbgZfbZ[[ZlbklZd`_dZdgZ^fm`qbgZfbZ[[Zlh\
ijbq_fdZd`_gsbgulZdbfm`qbgu\kbemh[_lh\^he`gukh[ex^Zlvh^bgZdh\u_ijZ\beZohly\
gbokh^_j`blkyfgh]hlZdh]hq_]hgbdhbfh[jZahfg_fh]ml\uihegblvgbklhysb_\h]eZ\_gb
ih^qbg_ggu_`_gsbgu
hfgh]bof_klZofu\b^bf^Z`_qlhgZjmrZy_kl_kl\_ggucihjy^hdZ[[ZlbkubfhgZobgb
ih\_e_\ZxldebjbdZfbdhlhjufih\bgm_lkygZjh^bq_f[hevr_c\eZklvxh[eZ^ZxlZ[[Zlbkub
fhgZobgbl_fe_]q_hgbfh]ml\ua\Zlv^mjgu_`_eZgbymdebjbdh\bl_fly`_e__e_`blgZl_owlh
b]habjZygZih^h[gh_agZf_gbluckZlbjbdkdZaZeG_lgbq_]hgZk\_l_g_kghkg_c[h]Zlhc
`_gsbgu
JZafureyyqZklhh[h\k_fwlhfyj_rbegZkdhevdhfg_[ueh\hafh`ghaZ[hlblvkyh[mihfygmluo
k_kljZobhdZau\Zlvbfihdjh\bl_evkl\hZqlh[uhgb[hevr_f_gym\Z`ZebebqghgZ[ex^ZlvaZ
gbfbBlZddZdij_ke_^h\Zgbykhklhjhgufhbo^moh\guokugh\h]hjqZebf_gyl_i_jv_s_[hevr_
ijbklZgbhlk\bj_ihc[mjbb^urZemgbog_kdhevdhk\h[h^g__MfhgZoh\fhbklZjZgbyhklZ\Zebkv
[_kieh^gufbghy\b^_eg_dhlhju_boieh^umfhgZobgvbq_f[he__g_h[oh^bfhcy\eyeZkvfhy
ih^^_j`dZbog_fhsbl_fml_rbl_evg_c[uehwlhb^eyf_gy
H^gZdhl_i_jvkZlZgZ\ha^\b]gZf_gylZdh_]hg_gb_qlhyg_gZoh`mk_[_f_klZ]^_[uyfh]
mkihdhblvkybeb^Z`_ijhklh`blvgZih^h[b_ijhdeylh]hDZbgZykdblZxkvih\kx^mdZd[_]e_pb
[jh^y]ZF_gydZdym`_kdZaZe\ur_ihklhygghfmqZlba\g_gZiZ^_gby\gmljbkljZob
[_kij_klZgghl_jaZxlb\g_rgbcb\gmlj_ggbckljZob[hjv[ZIj_ke_^h\Zgbyfhbo^moh\guo
kugh\agZqbl_evghhiZkg__q_fij_ke_^h\Zgby\jZ]h\_^v^moh\gu_kugu\k_]^ZgZoh^ylkyij_^h
fghcbyihklhyggh^he`_gi_j_ghkblvbodh\Zjkl\hL_e_kgh_gZkbeb_khklhjhgu\jZ]h\m]jh`Z_l
fg_dh]^Zy\uoh`maZij_^_eufhgZklujy\gmljb`__]hfg_kiehrvbjy^hfijboh^blkyl_ji_lv
klhev`_`_klhdb_kdhevbdh\Zjgu_dhagbkhklhjhgu^moh\guokugh\lh_klvfhgZoh\
ihjmq_gguofg_Z[[ZlmdZdbohlpm
Hkdhevdhm`_jZahgbiulZebkvih]m[blvf_gyhljZ\hcih^h[ghlhfmdZdwlh[u\Zehbk
[eZ`_gguf;_g_^bdlhfLZ`_ijbqbgZbaaZdhlhjhchgihdbgmek\hbojZa\jZs_gguo^moh\guo
kugh\fh]eZ[uih[m^blvbf_gyihke_^h\Zlvijbf_jmklhev\_ebdh]hhlpZp_jd\b?keb[uyg_
\uklmibeijhlb\wlhcy\ghchiZkghklblh\ukdZaZe[ug_k\hxex[h\vd[h]mZe_]dhfuke_ggh_
`_eZgb_bkdmrZlv_]hbih]m[blvk_[yOhlyyiulZekygZkdhevdhfh]ij_^hl\jZlblv_`_^g_\gu_
ihdmr_gbygZfhx`bagv\h\j_fyih^Zqbfg_ibsbbiblvyfhgZobklZjZebkvhljZ\blvf_gy^Z`_
ijbkh\_jr_gbblZbgkl\ZijbqZklbyZbf_ggh\eb\\qZrmy^
^jm]hcjZadh]^ZyhlijZ\beky\GZglgZ\_klblvaZ[he_\r_]h]jZnZbhklZgh\bekylZf\^hf_
h^gh]hbafhbo[jZlv_\ihiehlbfhgZobaZ^mfZebhljZ\blvf_gykihfhsvxkhijh\h`^Z\r_]h
f_gykem]bij_^iheZ]Zyqlhykh\_jr_gghg_[m^mhkl_j_]Zlvkyih^h[gh]hihdmr_gbyGhih
ijhfukem;h`bxkemqbehkvlZdqlhihdZy_s_g_hl\_^Zeijb]hlh\e_gghc^eyf_gyibsbh^bgba
ijb[u\rbokhfghcfhgZoh\ihg_\_^_gbx\hkihevah\Zeky_xblhlqZk`_miZef_jl\ufkem]Z`_
\bgh\gbdwlh]hihqm\kl\h\Z\mdhjukh\_klbZlZd`_bkim]Z\rbkvh[gZjm`_gbymebd[_`Ze
BlZdihke_klhevy\gh]h^ey\k_o^hdZaZl_evkl\ZboaehgZf_j_gghklbygZqZem`_ihf_j_
\hafh`ghklbhldjulh[hjhlvkyijhlb\bodhag_ci_j_klZe^Z`_oh^blvgZkh[jZgbydZiblmeZb
ij_[u\Ze\d_evyokg_fgh]bfbfhgZoZfb
HklZevgu_`__keb[uhgbmagZebqlhygZf_j_\Zxkvdm^Zgb[m^vih_oZlvjZkklZ\beb[uih
^hjh]ZfbljhiZfih^dmie_gguojZa[hcgbdh\qlh[um[blvf_gyB\hlihdZyij_l_ji_\Ze\k_wlb
hiZkghklbjmdZ[h`vygZg_keZfg_h^gZ`^ukbevgucm^Zjy\uiZeijb_a^_baih\hadbbih\j_^be
k_[_r_xwlhiZ^_gb_h]hjqbehbhkeZ[behf_gy]hjZa^h[hevr_q_fdh]^Zlhij_`gyyjZgZ
H[ma^u\Zyfyl_`guc^mo[jZlbbm]jhahchlemq_gbyyaZklZ\beg_dhlhjuobagbogZb[he__hiZkguo
^eyf_gyim[ebqghh[_sZlvfg_beb^Z`_^Zlvdeyl\mqlhhgbkh\k_fmc^mlbaZ[[Zlkl\Zb[hevr_
g_[m^mlf_gygbq_f[_kihdhblv
Ghhgbhldjulhb[_kkh\_klg_crbfh[jZahfgZjmrbeb^Zggh_keh\hbdeyl\ub[ueb\ugm`^_guih
ih\_e_gbxjbfkdh]hiZiuBgghd_glbyq_j_ahkh[hijbkeZggh]he_]ZlZih\lhjblvij_`gb_deyl\u
b^Zlv_s_fgh]h^jm]boaZ\_j_gbc\ijbkmlkl\bb]jZnZb_ibkdhih\H^gZdhbihke_wlh]hhgbg_
mkihdhbebkvG_^Z\ghdh]^Zba]gZ\l_ohdhlhjuoylhevdhqlhkdZaZeykgh\Zihr_egZkh[jZgb_
dZiblmeZb^h\_jbekyhklZevghc[jZlbbddhlhjhcyhlghkbekykf_gvrbfih^haj_gb_fy
hlboy^ZZhlbof_qZijbklZ\e_ggh]hdfh_fm]hjemf_gymdjuehlgboh^bgbaf_klguo
\eZ^_l_e_c
klhevhiZkguomkeh\byoyljm`mkv^hkboihjdZ`^uc^_gvy\b`mdZd[uaZg_k_ggucgZ^fh_c
]heh\hcf_qlZdqlhg_fh]mk_[yqm\kl\h\Zlvkihdhcguf^Z`_aZh[_^hfIh^h[gh_wlhfm
�jZkkdZau\Z_lkyhq_eh\_d_dhlhjuckqblZefh]ms_kl\hb[h]Zlkl\hlbjZgZbhgbkby\_ebqZcrbf
kqZklv_fghm\b^_\f_qlZcghih^\_r_ggucgZ^gbfgZgbld_mykgbek_[_dZdh]hjh^ZkqZklv_
khimlkl\m_la_fghfmfh]ms_kl\mLh`_kZfh_[_kij_klZgghbkiulu\Zxl_i_jvby\ha\_^_ggucba
khklhygby[_^gh]hfhgZoZ\kZgZ[[ZlZbklZ\rbcl_fg_kqZklg__q_f[hevr_cklZeZfhy\eZklv
Imklv`_fhcijbf_jh[ma^Z_lq_klhex[b_l_odhlhju_kZfbklj_fylkydwlhfm
LZdh\Zh\haex[e_gg_crbcfhc\hOjbkl_[jZlb[eb`Zcrbckimlgbd\`bagbbklhjbyfhbo
[_^kl\bcdhlhjufyih^\_j]Zxkv[_kij_klZgghqmlvebg_kdheu[_ebLul_i_jv\iZe\hlqZygb_b
fmqZ_rvkyhlkhagZgbyijbqbg_gghcl_[_h[b^uIhwlhfmy`_eZxdZdybkdZaZe\gZqZe_wlh]h
ihkeZgbyqlh[ujZkkdZaZggZyfghxbklhjbyihkem`beZl_[_ml_r_gb_fbqlh[uihkjZ\g_gbxk
fhbfbluijbagZe[uk\hbg_\a]h^ubebgbqlh`gufbbebe_]dbfbbl_ji_eb\__[ui_j_ghkbebo
Ke_^m_l\k_]^Zml_rZlvkyij_^kdZaZgb_f]hkih^Zh_]hihke_^h\Zl_eyobijbki_rgbdZo^vy\heZ
?kebhgbij_ke_^h\Zebf_gyhgb[m^mlij_ke_^h\Zlvb\Zk?keb\Zkg_gZ\b^blfbjlhagZcl_
qlhij_`^_\Zkhg\hag_gZ\b^_ef_gy?keb[u\u[uebhlfbjZk_]hlhfbjex[be[uk\h_B
Zihklhe]h\hjblk_`_eZxsb_`blv\hOjbkl_[eZ]hq_klb\h[m^ml]hgbfuB\^jm]hff_kl_
Yg_klj_fexkvm]h`^Zlvex^yf?keb[uybihgug_m]h`^Zeex^yfyg_[ue[ujZ[hfOjbklZ
BIkZefhi_\_p]h\hjbl
\_^_gu\aZ[em`^_gb_l_dlhm]h`^Z_lex^yflZddZd[h]ij_aj_ebo
Ih^\_j]Zywlhl\hijhklsZl_evghfmh[km`^_gbx[eZ`_ggucB_jhgbfgZke_^gbdhfdhlhjh]hih
fh_cmqZklbq_eh\_dZl_jiys_]hihghr_gbybaaZde_\_luyk_[ykqblZx\ibkvf_dG_ihlbZgm
]h\hjbl:ihklhekdZaZe?keb[uybihgug_m]h`^Zeex^yfyg_[ue[ujZ[hfOjbklZGhhg
i_j_klZem]h`^Zlvex^yfbklZejZ[hfOjbklZLhl`_Z\lhj\ibkvf_d:a_ee_heh`guo^jmavyo
aZf_lbe;eZ]h^Zj_gb_]hkih^maZlhqlhym^hklh_gg_gZ\bklbfbjZB\ihkeZgbbdfhgZom
Bebh^hjmAZ[em`^Z_rvky[jZlfhcaZ[em`^Z_rvky_keb^mfZ_rvqlhojbklbZgbgdh]^Zeb[hg_
[m^_lih^\_j]Zlvkyij_ke_^h\Zgbyf
jZ]gZrZdbe_\judZxsbc[jh^blbsZdh]^Zih]ehlblv:luihfurey_rvhfbj_Kb^bl\jZ]\
aZkZ^_\f_kl_k[h]Zlufbhh^mr_\e_ggu_wlbfbkeh\Zfbbijbf_jZfb[m^_f`_l_fl_ji_eb\__
i_j_ghkblvg_kqZklbyq_fhgbg_kijZ\_^eb\__Bg_[m^_fkhfg_\Zlvky\lhfqlhhgbihe_agu^ey
gZk_kebbg_dZdaZkem]Zlh\h\kydhfkemqZ_dZdg_dh_bkdmie_gb_:lZddZd\k_ijhbkoh^blih
ijhfukem;h`v_fmlhimklvdZ`^uc\_jmxsbc\h\kydhcgZiZklbml_rZ_lkyihdjZcg_cf_j_l_f
qlh[h`vy[eZ]hklvgbdh]^Zbgbq_]hg_^himkdZ_l\hij_dbk\hbfij_^gZq_jlZgbyfbqlh[u^mjgh_
gbkh\_jrZehkvhgZ\k_ijb\h^bldgZbemqr_fmdhgpm
�Hllh]hlhbijZ\bevgh\h\k_okemqZyoh[jZsZxlkyd;h]mkhkeh\ZfbZ[m^_l\heyL\hy:
ijblhfkdhev\_ebdh_ml_r_gb_ex[ysbf[h]Zkh^_j`blky\keh\ZoZihklheZAgZ_f\_^vqlh^ey
ex[ysbo[h]Z\k_l\hjblky\h[eZ]h
WlhjZamf_ebfm^j_crbcbaex^_ckdZaZ\\IjblqZoIjZ\_^gbdZg_hi_qZeblgbqlhkgbf
kemqb\r__kyWlbfhgykghihdZau\Z_lqlhex^Zijboh^ysb_\h]g_\baaZkemqb\r_]hkykgbfb
[h`v_fmijhfukemWlbex^bklj_fylkyih^qbgylvkyg_\he_[h`v_cZkh[kl\_gghcb\lZcg_
�ijhlb\ykvkeh\ZfZ[m^_l\heyl\hyij_^ihqblZxl[h`v_c\he_k\hxkh[kl\_ggmx
IjhsZc

Приложенные файлы

  • pdf 18356815
    Размер файла: 116 kB Загрузок: 0

Добавить комментарий