<0'
E
N
G
L
I
S
H
<0'
,%2(7)8
8LIFEXXIVMIWMRXLILERHWIXQYWXFIJYPP]GLEVKIHJSVLSYVWFIJSVIYWMRKXLI
XIPITLSRIJSVXLI½VWXXMQI
&EXXIV]PMJI
8EPOXMQIMWLSYVW[LMPIWXERHF]MWLSYVW[MXLSYXYWEKI%GXYEP
XMQIW[MPPZEV]HITIRHMRKSRXLIEQTPM½IVWIXXMRKWYWIH6ITPEGIFEXXIVMIWIZIV]X[S
]IEVW
&EXXIV]WTIG
EWWYTTPMIH[MXL]SYVTLSRI\%%%2M1,VIGLEVKIEFPI
FEXXIVMIW:Q%L2M1,QSHIP%%%,'+4--RXIVREXMSREP0XHSV,*6
%%%.7LIR^LIR,MKLTS[IV8IGLRSPSK]'S0XH
8SVITPEGIFEXXIVMIWVIQSZIXLILERHWIXFEXXIV]GSZIVERHMRWXEPPRI[FEXXIVMIWXLIR
GPSWIFEXXIV]GSZIV
&%7)
8LIFEWIFEGOYTFEXXIVMIWIRWYVIXLIJYRGXMSREPMX]SJ]SYVGSVHPIWWTLSRILSYVW
MRGEWISJETS[IVSYXEKI
;LIRXLIFEWIYRMXSTIVEXIWMRFEXXIV]QSHIRS%'TS[IVXLIFEWI43;)6PMKLX
3TIRFEXXIV]
GSQTEVXQIRXHSSV
LIVI
8340%')%'%00
4VIWW
8%0/
XLIRHMEPXLIRYQFIV
YWMRKXLIRYQIVMGOI]TEH7II
PMKLXMRKTEXXIVRJSVXLI8%0/FYXXSR
SRXLIFSXXSQSJXLITEKI
%HNYWXXLIZSPYQIXSXLIQSWX
GSQJSVXEFPIPIZIPYWMRKXLI:SPYQI
'SRXVSPERH&3378FYXXSRMJ
RIGIWWEV]
4VIWWXLI
832)
FYXXSRSRXLI
WMHISJXLILERHWIXXSEHNYWXXLI
XSREPMX]SJXLIMRGSQMRKZSMGIXS
XLIQSWXGSQJSVXEFPIPIZIP
;%62-2+:3091)1%=&)
039(
238)
-JXLI:SMGI%WWMWXJYRGXMSRMW
IREFPIH]SY[MPPLIEVXLIHMKMXWSJ
XLIMRGSQMRKTLSRIRYQFIV
7XITEFSZIGERFIVITPEGIH[MXL
SRISJXLIJSPPS[MRKSTXMSRW
(MEPJVSQ'-(VIGSVHW'LSSWIE
VIGSVHJVSQ]SYV'EPPIV0MWXWII
TEKIXLIRTVIWW
8%0/
(MEPJVSQ4,32)&33/'LSSWIE
VIGSVHJVSQ]SYV4LSRIFSSOWII
TEKIXLIRTVIWW
8%0/
4VIHMEPFIJSVITVIWWMRK
8%0/
HMEPXLIRYQFIV]SY[MWLXSGEPP
HMKMXW[MPPHMWTPE]SRXLIWGVIIR
TVIWW
8%0/
[LIRXLIRYQFIVMW
GSQTPIXI
*SPPS[[MXLWXITWEFSZIXS
IRNS]EGPIEVERHGSQJSVXEFPITLSRI
GSRZIVWEXMSR
83%27;)6%'%00
;LIRTLSRIMWVMRKMRKTVIWW
8%0/
XSERW[IVXLIGEPP
%HNYWXXLIZSPYQIERHXSRISJXLI
MRGSQMRKZSMGIEGGSVHMRKXS]SYV
TVIJIVIRGIW
;LIR½RMWLIHTVIWW
8%0/
XS
LERKYT
238)
*SVERI\TPEREXMSRSJXLI8%0/
FYXXSRPMKLXWIIXLIFSXXSQSJXLI
TEKI
-J]SYLEZI'-(WIVZMGIRSXIXLI
MRGSQMRKTLSRIRYQFIVHMWTPE]IH
SR]SYVWGVIIR
-JXLI:SMGI%WWMWXJYRGXMSRMW
IREFPIH]SY[MPPLIEVXLIHMKMXWSJ
XLIMRGSQMRKTLSRIRYQFIV
%XER]TSMRXHYVMRKXLI
GSRZIVWEXMSRTVIWWXLI
WTIEOIVTLSRIFYXXSR
;
XS
W[MXGLXSLERHWJVIIQSHI9WIXLI
ZSPYQIGSRXVSPJSVEHNYWXMRKXLI
PIZIPSJXLIMRGSQMRKEYHMS7[MXGL
FEGOXSIEVTMIGIQSHIF]TVIWWMRK
XLIWTIEOIVTLSRIFYXXSREKEMR
8EPO&YXXSR0MKLXMRK4EXXIVR
+VIIR4LSRIMWMRYWI
*VIIRIZIV]WIGSRHWMR
WXERHF]QSHI0S[FEXXIVMIW
40%'-2+%27;)6-2+'%007
&%88)6=-2*361%8-32
[MPPFPMROSRGIIZIV]X[SWIGSRHW
8SMRWXEPPFEXXIVMIWMRXLIFEWI
8YVRFEWISZIVERHSTIRFEXXIV]GSQTEVXQIRXHSSV
-RWXEPPFEXXIVMIWEGGSVHMRKXSXLITSPEVMX]WLS[RMRWMHIXLIFEXXIV]GSQTEVXQIRX
238)8SVITPEGILERHWIXFEXXIVMIWSVXSMRWXEPPFEWIFEGOYT
FEXXIVMIWYWI320=
WXERHEVHVIGLEVKIEFPI
%%%2M1,FEXXIVMIW
Q%L
03;&%88)6=-2*361%8-32
,ERHWIX
8LIFEXXIV]MGSRSRXLIWGVIIRWLS[WRSFEVWXLIWGVIIRHMWTPE]W±0S[&EXXIV]²
8LILERHWIXFIITWIZIV]X[SWIGSRHWMR3**,33/QSHI
8LI8%0/FYXXSRFPMROWKVIIRX[MGIIZIV]WIGSRHWMRWXERHF]QSHI-X[MPPRSX
¾EWLEREPIVXMR3**,33/QSHI
&EWIMJSTXMSREPFEXXIVMIWEVIMRWXEPPIH
8LI43;)6PMKLX[MPPFPMROKVIIRSRGIIZIV]½ZIWIGSRHW
;%62-2+9WIVIGLEVKIEFPIFEXXIVMIWSRP]
(S238YWIEPOEPMRIFEXXIVMIW