ziomek72

  • Dokumenty7 893
  • Odsłony2 235 152
  • Obserwuję977
  • Rozmiar dokumentów26.3 GB
  • Ilość pobrań1 294 384

Grochola Katarzyna - Przegryzc dzdzownice

Dodano: 8 lata temu

Informacje o dokumencie

Dodano: 8 lata temu
Rozmiar :338.9 KB
Rozszerzenie:pdf

Grochola Katarzyna - Przegryzc dzdzownice.pdf

ziomek72 EBooki EBOOK 1.Różne
Użytkownik ziomek72 wgrał ten materiał 8 lata temu.

Komentarze i opinie (0)

Transkrypt ( 25 z dostępnych 26 stron)

.DWDU]\QD *URFKROD 3U]HJU\ ü G G RZQLF :\GDZQLFWZR 'R :\GDZFD 0DUHN 5\üNR 3URMHNW RNáDGNL 6NáDG V\VWHPHP 7a 0DUHN 5\üNR ‹  E\ :\GDZQLFWZR 'R ,6%1  :\GDZQLFWZR 'R 6NU\WND SRF]WRZD   :DUV]DZD  ZZZGRFRPSO HPDLOL GR#GRFRPSO 1R ZáD QLH =DZV]H E\áH FLHNDZ R NWyUHM VWUDFLáDP FQRW  &QRW VWUDFLáDP R SL WHM UDQR D QLH WDN VL W\ONR ]DF]\QDáD NVL ND NWyU ] Z\SLHNDPL QD WZD U]\ SU]HF]\WDáDP Z ZLHNX SL WQDVWX ODW 1LH SDPL WDP R F]\P E\áD 1LH SDPL WDP NWR M QDSLVDá 3DPL WDP QLH VáDEQ F QDG]LHM  H DXWRU GR WHPDWX FQRW\ OXE  FR EDUG]LHM FLHNDZH  MHM XWUDW\ SRZUyFL Z GDOV]HM F] FL 1LHVWHW\ 1DG]LHMD PDWN ZDULDWHN 1XUWXM F\ PQLH SUREOHP FQRW\ RJUDQLF]Dá VL GR WHJR MHGQHJR MHG\QHJR ]GDQLD 6NR F]\áDP W NVL N R WU]HFLHM UDQR SU]\ ODWDUFH L GRSLHUR ZWHG\ ZLHG]LDáDP  H DXWRU ]URELá PQLH Z NRQLD 7R ]GDQLH QLH SU]HV]áR FR SUDZGD GR KLVWRULL OLWHUDWXU\ $OH GOD PQLH ]QDF]\áR GX R ZL FHM QL RJDU\ NWyUH SRV]á\ Z ODV 0RUDá ]DUZDQLD QRF\ E\á QDVW SXM F\ QLHZD QH FR MHVW GDOHM ZD QH HE\ SU]\WU]\PDü FL ]D JX]LN 0DP ZUD HQLH H FL JOH GDZDáDP VL SU]\WU]\P\ZDü ]D JX]LN 'REU]H RG SRF] WNX 8URG]LáDP VL MDNR SLHUZV]H L SU]HGRVWDWQLH G]LHFNR VZRLFK URG]LFyZ /HNDU] WZLHUG]Lá H XUR G] VL Z VLHUSQLX 0DPD WZLHUG]LáD H Z OLSFX $ RQL URG]LFH PLHV]NDOL ZyZF]DV Z Uy Q\FK PLD VWDFK L RQD ZLHG]LDáD GRNáDGQLH NLHG\ QR VL  VL SRF] áDP /HNDU] QDWRPLDVW NOHSDá M SR NRODQLH L PyZLá EDE\ ]DZV]H PyZL  H ZLHG]  KHKHKH 8URG]LáDP VL Z OLSFX 2ERN PRMHM PDWNL OH DáD SDQL R QD]ZLVNX %DG\O 7H XURG]LáD FyUN  1D]ZDáD FyUN 5y D : ]ZL ]NX ] W\P MD GRVWDáDP SRVSROLWH LPL  *G\E\P VL XURG]LáD Sy QLHM 5y D %DG\O QLH E\áDE\ SU]\QRV]RQD QD VDO  QD NWyUHM OH DáD PRMD PDWND %\ü PR H ZWHG\ REGDU]RQR E\ PQLH LPLHQLHP 9LROHWWD 1DVW SQH SDU ODW XSá\Q á\ Z VSRNRMX 1D ]DSDáNL PyZLáDP ÄMDWLP  3RGQRVLáDP NDUW\ NWyUH F]DVHP XSDGDá\ QD SRGáRJ L PyZLáDP ÄEU\G FL XSDGá  3RáNQ áDP JX]LN RG ]LHORQ\FK VSRGQL Z NUDWN L SL ü ]áRW\FK $ PRMD SU]\MDFLyáND (ZD SRáNQ áD FDá ZL ]N V]SLOHN NWyUH WU]\PDáD Z XVWDFK WDN H áHENL Z\ VWDZDá\  SU]\SLQDáD ]GM FLD GR PDW\ :HV]áD MHM PDWND NWyUD ]DZV]H PyZLáD HE\ QLH WU]\PDü V]SL OHN Z XVWDFK ER WR PR H VL OH VNR F]\ü L ZWHG\ (ZD ]URELáD FKOXXXS  L V]SLONL ZSDGá\ GR URGND %DáD VL SU]\]QDü 'R G]LVLDM VL QLH SU]\]QDáD 1LH ZLDGRPR F]\ WH V]SLONL PD MHV]F]H Z URGNX 0yM JX]LN L SL ü ]áRW\FK Z\V]á\ QD ]HZQ WU] 1DMZD QLHMV]H U]HF]\ $ Z JD]HFLH GX \ W\WXá Ä3ROLFMDQW ]UDQLRQ\ QD SUDVNLP SDUNLQJX  $ MD SLHUZV]\ UD] ] PLáR FL ]RVWDáDP ]UDQLRQD Z ZLHNX ODW VLHGPLX 6WDáDP SRG ZLHONLP NDV]WDQHP SR Z\M FLX ]H V]NRá\ L ] NROH DQN 0DU\VL XVWDODá\ P\ SODQ GQLD 0DU\VLD FKFLDáD QDMSLHUZ ZUyFLü GR GRPX L ]RVWDZLü WHF]N  D SRWHP L ü QD NDV]WDQ\ MD ]D FKFLDáDP QDW\FKPLDVW ]ELHUDü NDV]WDQ\ 2VWDWHF]QLH OH Dá\ SRG QDV]\PL QRJDPL :WHG\ QD KRU\]RQFLH SRMDZLá VL +HQLR L NU]\NQ á  7\ SRSDWU] QD PQLH 1LH ZLHG]LDáDP F]\ WR GR PQLH F]\ GR 0DU\VL RQ WDN NU]\F]\ 3RGREDá PL VL QLH]Z\NOH PLPR H GáXEDá Z QRVLH QD ND GHM OHNFML L ] XSRGREDQLHP RJO GDá WR FR Z\GáXEDá

0DU\VLD XGDZDáD H QLH Vá\V]\ :WHG\ +HQLR NU]\NQ á  (M GR FLHELH PyZL =DS\WDáDP 0DU\VL  F]\ RQ PyZL GR QLHM F]\ GR PQLH 0DU\VLD SDWU]\áD PL Z RF]\ L SRZWDU]DáD  8GDZDM H WR GR QLH GR QDV XGDZDM H JR QLH ZLG]LV] FR RQ VRELH P\ OL 1LH ZLHP FR RQ VRELH P\ ODá 2VWU\ NDZDáHN FHJá\ NWyU U]XFLá Z QDV] VWURQ  SU]HELá PL SROLF]HN QD Z\ORW L RSDUá VL R ERF]QH ] E\ 7U\VQ áD NUHZ 0DU\VLD NU]\NQ áD +HQLR XFLHNá Z\ELHJáD SDQL RG PDWHPDW\NL L ]DZLR]áD PQLH QD SRJRWRZLH 7DN 1D SRJRWRZLX OHNDU] ]DS\WDá F]\ Z\WU]\PDP V]\FLH EH] ]QLHF]XOHQLD ER ]DEUDNáR :\WU]\PDP SRZLHG]LDáDP D SROLF]HN UR]áD]Lá VL FRUD] EDUG]LHM :\WU]\PDáDP 2GW G VWDá\ P\ VL ] 0DU\VL QLHUR]á F]Q\PL SU]\MDFLyáNDPL 3R \F]DáD PL ]DJUDQLF]QH NUHGNL GR URELHQLD V]ODF]NyZ L SU]\QRVLáD ZLQRJURQD .LHG\ XVá\V]DáDP MDN PyZLáD  $VLD WR PRMD QDMOHSV]D SU]\MDFLyáND -DN WHQ ZVWU WQ\ +HQLHN PQLH ]DF]HSLDá L U]XFLá ZH PQLH FHJá  QDGVWDZLáD WZDU] HE\ PQLH RVáRQLü , PD EOL]Q  NWyUD QLJG\ SU]HQLJG\ QLH ]HMG]LH 1LNW GOD PQLH F]HJR WDNLHJR QLH ]URELá :LQRJURQD 0DU\VL E\á\ VáRGNLH D NUHGNL NRORURZH L ]DJUDQLF]QH %RKDWHUVND RILDUD WR OHSLHM EU]PL QL RILDUD ] SU]\SDGNX $ SRWHP Z GUXJLHM NODVLH +HQLHN SU]\VáDá PL NDUWN  -DNLH V FKPXU\" .XPXOXV\ L FLUUXV\ ZL FHM QLH SDPL WDP RGSLVDáDP ']LHQNXMH RGSLVDá NRFKDP FLH :L F SR GZyFK ODWDFK GRZLHG]LDáDP VL  H GRVWDáDP W FHJá ] PLáR FL $OH ZWHG\ MX QLH NRFKD áDP VL Z +H NX 2Q ]UHV]W QLH SRU]XFLá VZRMHJR QDZ\NX SU]\SDWU\ZDQLD VL WHPX FR ]QDOD]á Z QRVLH  W\ONR Z =E\V]NX NWyU\ QLH GáXEDá DOH NRFKDá VL Z 'DQXVL L QD PQLH QLH ]ZUDFDá XZDJL : RJyOH $OH QLH NRFKDá VL Z QLHM GáXJR 'DQXVLD ERZLHP GRVWDáD Z JáRZ KX WDZN L Z\O GRZDáD Z V]SLWDOX =E\V]HN E\á ZROQ\ 1LHVWHW\ SU]HQLH OL P\ VL GR :DáEU]\FKD :DáEU]\FK PDORZQLF]H PLDVWR &]DUQH SRZLHWU]H PDáH EUXNRZDQH NRFLPL áEDPL XOLF]NL L IDQWDVW\F]QH KDáG\ 3RGNUDGDOL P\ VL SRG WDNL WD PRFL J ] JyU\ OHFLDá X HO F]\ FR WDNLHJR L PLDáR VL ZUD HQLH H MHVW VL \ZFHP ]DNRS\ZDQ\P %XG]LáR WR Z QDV QLH]Z\NáH HPRFMH $ GR PRPHQWX NLHG\ WH RGSDG\ ]DV\SDá\ GZyFK FKáRSDNyZ ] V VLHGQLHJR SRGZyUND 1D PLHUü 1R WR SU]HVWDOL P\ ZWHG\ NXFDü SRG W WD P  =UHV]W RG WHJR Z\SDGNX VWUD QLF\ VWDOL VL EDUG]LHM F]XMQL L ]DZV]H SRWUDILOL QDV Z\SDWU]\ü GX R ZF]H QLHM 1R ZáD QLH *G]LH MD SRáR \áDP SDSLHURV\" .XUF]  MDN MD OXEL SDOLü :WHG\ ZáD QLH ]DNRFKDáDP VL SR UD] WU]HFL MX EDUG]LHM QD SRZD QLH 2Q PLDá QD LPL 5\VLHN L QDU\VRZDá GOD PQLH VDUHQN  -DN \Z  3RWHP VL RND]DáR H NDONRZDá DOH WR QLH PLDáR ZL NV]HJR ]QDF]HQLD 'Dá PL WHQ U\VXQHN SRZLHG]LDá H PQLH NRFKD L XFLHNá 6SUDZLáR PL WR RNURSQ SU]\MHPQR ü H SRZLHG]LDá $ Z SDU GQL Sy QLHM SU]HJU\]á GOD PQLH V]NODQN L RELHFDá H QDXF]\ PQLH MDN WR URELü :WHG\ HE\ ZLHG]LDá H PL QD QLP UyZQLH ]DOH \ SU]HJU\]áDP G G RZQLF  1D Syá 3RWHP RGNU\OL P\ H QD SRGGDV]X PLHV]ND SDQL FR PD XPU]Hü &R ZLHF]yU ] MHM GRPX Z\QRV]RQR GR PLHWQLND ]ZRMH EDQGD \ 0\ P\ WR Z\JU]HE\ZDOL ER ] WDNLFK EDQGD \ PLPR OHNNLHJR ]X \FLD PR QD E\áR ]URELü ZLHOH SR \WHF]Q\FK U]HF]\ 3U]HSDVNL QD JáRZ  QD SU]\NáDG $OER V]QXU\ GR ZL ]DQLD MH FyZ $OER WHPEODNL %\OL P\ RVWUR QL  PRMD WUyMND NX]\QyZ PyM EUDW L MD  QLH FKZDOLOL P\ VL W\P Z GRPX 8GDZDOL P\ JU]HF]QH L UR]JDUQL WH G]LHFL NWyUH ZLHG]  FR MHVW GREUH D FR ]áH :V]\VWNR E\áRE\ GREU]H DOH VWDUV]D SDQL SHZQHJR GQLD XPDUáD 2EF\ OXG]LH Z\QLH OL QD PLHWQLN PQyVWZR VNDUEyZ 6WU]\NDZNL NXUF]  EXWHOHF]NL JD]  1DSFKDOL P\ W\P NLHV]HQLH QR E\áR ZLGDü MDN VL RND]DáR ZNUyWFH

, DIHUD  D FR P\ P\ W\PL VWU]\NDZNDPL D F]\ MHGOL P\ OHNL D F]\ QLH ZLHP\ D EDQGD H WR VLHGOLVNR FKRURE\ &Dá VRERW L QLHG]LHO PXVLHOL P\ ]D NDU SU]HOH Hü Z áy NX 2VWDWHF]QLH QLH E\áR WR WDNLH ]áH &DáD QDV]D SL WND VSDáD QD ROEU]\PLP PDá H VNLP áR X QDV]\FK G]LDGNyZ NWyUH PLDáR ]H VWR ODW L ]H WU]\ PHWU\ V]HURNR FL 'RVWDOL P\ QLDGDQLH GR áy ND L E\áR EDUG]R ]DEDZQLH ER FL JQ OL P\ ] FKOHED PDVáR L SRVPDUR ZDOL P\ QLP PRQHW\ 3RWHP U]XFDOL P\ W\PL SLHQL NDPL WDN HE\ VL SU]\F]HSLá\ GR VXILWX 7R ]DEUDáR QDP F]DV GR RELDGX 1D RELDG PXVLHOL P\ ZVWDü L JU]HF]QLH VL ]DFKRZ\ZDü 3R RELHG]LH ZUyFLOL P\ GR áy ND L ]DF] OL P\ VL EDZLü Z OHNDU]D :HV]OL P\ ZV]\VF\ SRG NRáGU L FKáRSDNL FL JQ OL VSRGQLH RG SL DP\ D P\ P\ SRGQLRVá\ NRV]XOH :WHG\ ZV]HGá ZXMHN -X ZL FHM ]D NDU QLH ]RVWDZDOL P\ Z áy NX 3LHUZV]\P P F]\]Q  ] NWyU\P VL SRFDáRZDáDP E\á 'DQLHO 0LDá G]LHVL ü ODW L SL NQH OQLDQH ZáRV\ $OH QLH XPLDá JU\ ü V]NODQHN , PyZLá H WR JáXSLH $OH NLHG\ ]REDF]\á V]HUV]HQLD NWyU\ SLá ZRG ] NDáX \ QLH XFLHNá W\ONR ]DF] á QD QLHJR V\SDü SLDVNLHP 6]HUV]H VL Z\JU]HE\ZDá ] FRUD] WR QRZ\FK ZDUVWZ D 'DQLHO G]LHOQLH ] QLP ZDOF]\á SRWHP ]QDOD]á NDPLH  $ MHV]F]H Sy QLHM NLHG\ MX ZV]\VWNLP JR SRND]Dá RGFL JQ á PQLH QD ERN L ]DS\WDá F]\ FKF WHJR V]HUV]HQLD QD ]DZV]H ER PL JR PR H GDü 1LNRPX LQQHPX E\ QLH GDá D PQLH GD , QLHFK WR E G]LH QDV]D WDMHPQLFD 2F]\ZL FLH FKFLDáDP VFKRZDáDP V]HUV]HQLD GR SXGHáND RG ]DSDáHN E\á GX \ PL VLVW\ QR L ]DNRFKDáDP VL SR UD] F]ZDUW\ , NLHG\ ZDNDFMH GRELHJá\ NR FD RELHFDOL P\ VRELH ] 'DQLHOHP H ]DZV]H E G]LHP\ UD]HP QLF QDV QLH UR]á F]\ E G]LHP\ GR VLHELH SLVDü D E G]LHP\ QD W\OH GRUR OL HE\ VL R HQLü , H Z WHQ VSRVyE VWDMHP\ VL QDU]HF]RQ\PL  6NRUR MX VL ]DU F]\OL P\ WR PRJ FL SRFDáRZDü"  ]DS\WDá 'DQLHO 1R WR NXUF]  MD ]DPNQ áDP RF]\ D RQ VFKRZDá U FH ]D VLHELH L GRWNQ á PQLH XVWDPL $ PyM EUDW NWyU\ WR ZLG]LDá ]D GDá ]D WHQ SRFDáXQHN SL FLX ]áRW\FK =H MDN PX GDP WR PQLH QLH ]GUDG]L =DSáDFLáDP 7HUD] WR E\P PRJáD ]DSáDFLü ]D LOH UD]\ $ ]UHV]W  *yZQR PQLH WR REFKRG]L 3DU PLHVL F\ WHPX ]DF] áDP PLHü ZUD HQLH H V]\ENR SRVXZDP VL Z VWURQ PDQLDNDOQR GHSUHV\MQ ] EODGRQLHELHVNLP RGFLHQLHP VFKL]RIUHQLL :LG]LDáDP U]HF]\ NWyUH QLH V  7H JáXSLH WZDU]H ]QDMRP\FK NWyU]\ QDJOH ]DF] OL VL REFKRG]Lü ]H PQ MDN ] OHNNR QDGJQLá\P MDMHP FR WR QLE\ MHV]F]H QLH PLHUG]L DOH MDN SU]\SDGNLHP VNRUXSN WU FLV] WR E G]LH  RXII  QLHSU]\MHPQLH 3U]\MH G DP\ QD SU]\NáDG GR WDNLFK 3DUNXMHP\ RERN LFK F]HUZRQHJR PHUFHGHVD $FK MDN WR PLáR H ZSDGOL FLH 2FK FDáD SR QDV]HM VWURQLH .DZ\ KHUEDW\" :LHP 0LVLX  NXUZD GR PRMHJR P D WHQ WHNVW  ZLHP 0,6,8  V]ODJ PQLH WUDILá  H W\ NDZN ] POHF]NLHP D W\" $ MD QLH 1LH SLMDP NDZNL 0LVLX 3U]HVDG]DV] PyZLV] 3U]\FKRG] GR GRPX VLDGDP SU]HG NRPLQNLHP P\ O VRELH  MD PDP SDUD QRM  2. 0LVLX P\ O  1LH MHVWHP Z GREU\P VWDQLH &R WR MD FKFLDáDP 2QHJGDM ]DG]ZRQLáD GR PQLH SU]\MDFLyáND (ZD  WD RG W\FK V]SLOHN 1R WURFK F]DVX WR MX PL Q áR 0  MHM P SRZLHG]LDá H NRFKD LQQ  $ WR WDND SDUD DGQHJR VLHG]HQLD QD VRELH DGQHJR FLXPNDQLD G]LDPROHQLD SRGNUH ODQLD ]D]QDF]DQLD WHUHQX  H WR PRMH D MHGQRF]H QLH FR WDNLHJR FHQQHJR FR DOER MHVW DOER WHJR QLJG\ QLH PD L QLH E G]LH 7DNLH FR Z URGNX LFK RERMJD ZVSyOQHJR QLHGRVW SQHJR GOD LQQ\FK QDMZD QLHMV]HJR 3DPL WDP MDN NLHG\ GR PQLH QD SORWNL SU]\MHFKDáD RFK VWR ODW WHPX JRáROHG MDN VWR SL üG]LHVL W D SR SyáJRG]LQLH WHOHIRQ  'RMHFKDáD " 0DUWZLáHP VL  MDN GRMHFKDáD  G]LHFNR MX SL ZUDFDM RVWUR QLH QD GURG]H MHVW FRUD] JRU]HM MD SUDFXM 

6LHG]LDáDP QD IRWHOX RERN  ]áD ER WDN QLJG\ QLNW GR PQLH 2. PR H M VSUDZG]D  SRP\ ODáDP JáXSLD $ MHM VL WZDU] UR] ZLHWOLáD  D MD SRF]XáDP GU]D]J Z VHUFX MD VL MHV]F]H ZWHG\ QLH UR] ZLHWODáDP 1R ZL F RQ ZáD QLH WHQ FXGRZQ\ IDFHW SU]\FKRG]L NLHG\ GR GRPX L PyZL  -HVWHP ]DNRFKDQ\ Z LQQHM $ RQD SáDF]H UR]SDF]OLZLH WDNLH PD SL NQH RF]\  ROEU]\PLH F]DUQH á]\ VSá\ZDM D QD V]\M   -X QLH PDP Z FR ZLHU]\ü QLH FKF \ü  ]DGEDQH GáRQLH Z\FL JDM FKXVWHF]N  QLH ZLHP FR PDP URELü  V]ORFKD EH]UDGQLH $ MD  D MD D PQLH GXVL SU]\SRPLQDP VRELH WDPWHQ WHOHIRQ L VZRM ]D]GUR ü L WDN PL DO =ELHUDP GR VL GR NXS\ JáDV]F] M SR SROLF]NX L PyZL   3áDF] SáDF] VRELH SRSáDF] VRELH QDUHV]FLH WR VL ZV]\VWNR ]GDU]D Z MDNLP FHOX  ORV ]V\áD WDNLH VWUDV]QH U]HF]\ SR FR  =REDF]\V] %R H D U]\JDP ZáDVQ P GUR FL  :LHU] Z WR FDá\P VHUFHP L FKF  HE\ RQD XZLHU]\áD H WR QLH NRQLHF 1LH ]DSLHNáD VL Z EyOX L DOX QLH RGWU FLáD WHJR ZV]\VWNLHJR FR E\áR =H LP JRU]HM W\P OHSLHM :V]\VWNR FR QDV QDSUDZG IRUPXMH WR FLHUSLHQLH 7\ONR WU]HED ]URELü ] W\P FR GREUHJR $ RQD SáDF]H D PQLH D EROL Z URGNX :UyFLáDP GR GRPX D W\ VLHG]LV] WX QD W\P IRWHOX  &R PDV] WDN PLQ " 6LDGDP SU]\ WRELH EOLVNR  1LF QLH PyZ  PyZLV]  SRFDáXM FLHELH ]DQLP  =DQLP FR"  PLHM VL  =DQLP FL GUXJL UD] SRFDáXM  $ SRWHP SDWU]\V] QD PQLH WDN XZD QLH L S\WDV]  6WDáR VL FR " 1R WR MD  SDPL WDV]"  H PR H ] QLP SRUR]PDZLDV] $ W\  0\ QLF QLH PR HP\ =GHMPLM NRWD ]H VWRáX  .RW WX VLHG]LDá  6 GRUR OL ZLHG] FR UREL  7D NLH U]HF]\ VL ]GDU]DM  QLH PR HV] NLHURZDü FXG]\P \FLHP $OH SU]\ U]HF]DFK GREU\FK VL QLH UR QLH ELHU]H VL MH SR SURVWX  L ]DSU]HSDV]F]D $OH WR FR VL WHUD] ] QLPL G]LHMH SR]ZROL LP Z]URVQ ü 0LáR ü ZV]\VWNR Z\EDF]D $ SRWHP WDN VSRMU]DáH QD PQLH SU]\WXOLáH L SRZLHG]LDáH   1LH PDUWZ VL  JUXQW H P\ ZLHP\ FR MHVW QDMZD QLHMV]H 3U]\SRPQLDáDP VRELH ZWHG\ WDNL NDZDáHN ] $MDUD (PLOD 'R WHOHIRQX ]DXIDQLD G]ZRQL IDFHW L PyZL H ZNUyWFH XPU]H OHNDU]H PX GDM Syá URNX RQD PX VL SX FLáD L RGHV]áD ] PáRGV]\P NROHJ  FyUND V]HVQDVWRODWND MHVW Z FL \ D V\Q ELHU]H QDUNRW\NL , F]\ PDM GOD QLHJR MDN SRFLHV]DM F ZLDGRPR ü &]\ PR H E\ü JRU]HM" $ WHQ FR WDP VLHG]L SR GUXJLHM VWURQLH VáXFKDZNL PyZL  1R PRJáR E\ü JRU]HM :LH SDQ WR ZV]\VWNR PRJáR SU]\GDU]\ü VL PQLH , MX ZLHP H SHZQH VSUDZ\ V QLHLVWRWQH ER PQLH QLH GRW\F]  0QLH QLH GRW\F] 3RF]XáDP WDN FXGRZQ QDG]Z\F]DMQ SHZQR ü QLHNWyUH VSUDZ\ QD W\P ZLHFLH PQLH QLH GRW\F]  -HVW LFK VSRUR 7R V Z\SDGNL VDPRORWRZH Z\EXFK\ ERPE Z -HUR]ROLPLH DWDNL ,5$ Z\U]\QDQLH VL 7XWVL L +XWX G]LHQQLN WHOHZL]\MQ\ RUD] ]GUDGD PDá H VND 7\ MHVWH LQQ\ $ ZV]\VWNR SU]H] WHJR NRWD 0LDXF]Dá SU]H] FDá GURJ  PRM GURJ GR EDQNX L QD ORWQLVNR L OH Dá ]ZLQL W\ QD W\OQ\P VLHG]HQLX MDN RGELHUDáDP SU]HV\áN  L NRUHN SRWHP D NRW OH \ L WDN W\ONR Qy N WU]\PD WDN SDá NRZDWR F]\ MDN VDPD QLH ZLHP , GRSLHUR SRWHP GR ZHWHU\QDU]D CV]\ENR ELHJLHP QDW\FKPLDVW L ]GM FLD PDáHM Qy NL NRWD ]D  W\VL F\" 7R MDN ]D GX QRJ F]áRZLHND QLHVDPRZLWH L WHQ ZHWHU\QDU] PL WáXPDF]\ H ]áDPDQD DOH SU]HFLH WR QLH UDVRZ\ NRW PR H QLH ZDUWR WDNLH NRV]W\ RSHUDFMD JZy G  R WX QD XG]LH ]D SUDZLH GZLH ED NL 3ODW\QRZ\ F]\ FR WDNLHJR L MHV]F]H QLH PD SHZQR FL 7DN PL VXJHUXMH =H PR H OHSLHM X SLü 7DN PL PyZL WHQ ZHWHU\QDU] 7R PX WáXPDF]  H MDN VL UDWXMH MHGQR LVWQLHQLH WR WDN MDNE\ VL UDWRZDáR ZLDW

, NRW ]RVWDMH ]D WH GZLH ED NL L Vá\V] SR UD] SLHUZV]\ Z \FLX WZyM JáRV  $OH EDQDá -DVQH H EDQDá NXUF]  DOH SUDZGD WH  :V]\VWNLH EDQDá\ V WDN QDSUDZG SUDZG  , Z\FKRG]LV] ]D PQ QD XOLF  VWDMHV] Z WHM REVNXUQHM EUDPLH SDWU]\V] PL SURVWR Z RF]\ D MD WR F]XM Z EU]XFKX Z URGNX L ZFDOH QLH MHVWHP REUD RQD NLHG\ Vá\V] MDN SRZWDU]DV]  6WUDV]Q\ EDQDá $ SRWHP GRGDMHV]  2EDZLDP VL  H MHVW SDQL NRELHW PRMHJR \FLD =áDSDáH PQLH ]D WHQ SU]\VáRZLRZ\ JX]LN 1R L MDN VL PRJáDP ] WRE QLH XPyZLü" -DN FLHELH VSRWNDáDP WR ZLHG]LDáDP H ZV]\VWNR RG]\VNDáR VHQV 7\ QLH E\áH W\P VHQVHP EUR %R H  DOH QDJOH ZLDW XVWDZLá VL QD ZáD FLZ\P PLHMVFX ]LHPLD ]DF] áD QDUHV]FLH NU \ü SR VZRLP Z\]QDF]RQ\P RG GDZQD WRU]H ]LHOH E\áD ]LHORQD D ]LHPLD EUXQDWQD 0LáR ü WR E\áD PLáR ü NU]HVáR WR E\áR NU]HVáR LWG 7DNLH WDP Uy QH 1R ER W\ONR ]DGXU]HQLH MHVW QLHEH]SLHF]QH =PLHQLD ZLDW  Z GUXMHV] VRELH VSRNRMQLH QDG ]LHPL  D VL Z NR FX VSLHUGDODV] Z Gyá &K\ED QLH PXV] E\ü NXOWXUDOQ RVRE  6SLHUGDODV] VL 3R SURVWX 2 SURV]  X \ZDP VáyZ NWyUH XFKRG] ]D REVFHQLF]QH 2 PDWNR ZLHP H WHJR QLH ]QRVLáH  3DPL WDV] MDN ]DSURVLáH VZRLFK SU]\MDFLyá HE\ PQLH SR]QDOL 3DPL WDV] W SLHUZV] ZL]\W "  $VLH NR W\ONR QLH RSRZLDGDM WHJR NDZDáX PL G]\ SLHUZV]\P D GUXJLP GDQLHP WHJR ZLHV] R EDELH FR SU]\FKRG]L GR OHNDU]D L ZáRV\ MHM URVQ WX L WX D GR VDPHJR 'REUD" %áDJDP WR WDF\ IDMQL OXG]LH QLH FKF  HE\ SRP\ OHOL 1R L SU]\V]OL -DF\ FXGRZQL 6LHG]LHOL P\ FK\ED ] V]H ü JRG]LQ  WR QDSUDZG QLH]Z\NáH VSRWNDü VL WDN RG UD]X RG VHUFD M ]RU WU]\PDáDP ]D ] EDPL DGQHM EDE\ L GRNWRUD  D SR W\FK V]H FLX JRG]LQDFK RQL VL SRGQRV]  8OD FDáXMH PQLH Z SROLF]HN L V]HSF]H PL GR XFKD  )DMQLH H FL SR]QDáDP DOH F]DV QLH NXWDV QLH VWRL F]DV OHFLHü 3U]\MD QL VL ] QL GR G]LVLDM &]\ WHUD] 7HUD] WR MD PLDáDP JG]LH ]DG]ZRQLü $ PRMD PDWND PyZLáD W\ONR ÄSVLDNUHZ  ]H GZD UD]\ Z \FLX WDN SRZLHG]LDáD , ÄFKROHUD  $ MD MDN ZUyFLáDP SLHUZV]\ UD] ] RER]X KDUFHUVNLHJR  E\áR NDSLWDOQLH  U]XFLáDP SOHFDN Z SU]HG SRNRMX ZSDGáDP MDN EXU]D GR áD]LHQNL  SRáR \áDP VL Z FLHSáHM ZRG]LH ] ZáRVyZ VSá\Q á MHGHQ VNRUHN L ]H GZD GHNR LJOLZLD  OH DáDP FK\ED ] Syá JRG]LQ\ D MDN Z\V]áDP F]XáDP VL O HMV]D SU]\QDMPQLHM R SDU NLOR ] SOHFDND Z\V]á\ QRZH ZDZH VNRUNL  GHSWDáDP MH  ]RVWDZLDá\ GUREQH ODG\ QD OLQROHXP 1R ZL F MDN ZUyFLáDP ] RER]X WR SRWHP ZHV]áDP GR NXFKQL D WDP PDPD SU]\ ORGyZFH JyUQD V]DIND XFK\ORQD VL JQ áDP SR FKOHE L ZDOQ áDP F]RáHP SURVWR Z UyJ RWZDUW\FK GU]ZLF]HN ]DQLP SRP\ ODáDP WR PL VL Z\UZDáR ÄR NXUZD  ]PL Ná\ PL QRJL PDPD VFK\ORQD GDOHM JU]HEDáD Z ORGyZFH D PQLH SROLF]NL ]DSLHNá\ ] SU]HUD HQLD 1LH ]DUHDJRZDáD G]L NL %RJX XGDZDá\ P\ H RQD QLF QLH XVá\V]DáD D MD QLF QLH SRZLHG]LDáDP QR ER MDN H PRJáD XVá\V]Hü FR  FR QLH ]RVWDáR SRZLHG]LDQH" 1R ZáD QLH :L F XGDZDáDP H QLF QLH ZLG]  QLH Vá\V]  3U]\WXODV] VL GR PQLH Z QRF\  XZLHOELDP MDN NáDG]LHV] PL QD XG]LH U N L OHNNR  WDN MDNE\ PL PRFKRGHP QLHGEDOH QLHFKF F\ SU]H] SU]\SDGHN SR SURVWX  SU]HVXZDV] NX JyU]H MD OH RGZUyFRQD W\áHP MHGQD QRJD SRGJL WD Z NRODQLH MHGQD U ND REHMPXM FD SRGXV]N  MX SL  MX QLH PXV]  QLF QLH PXV]  D WZRMD GáR OHFLXWH NR SU]HVXZD VL SR ZHZQ WU]QHM VWURQLH PRMHJR XGD L F]XM VL MDNE\ GHOLNDWQLH GRVWUDMDQD GR VZRMHJR ZQ WU]D NWyUH MX F]HND QD QDVW SQ\ FHQW\PHWU GRWNQL FLD MHV]F]H MHGHQ MHV]F]H  MX  3LHUVL PL VL UREL WDNLH REU]PLDáH QD W\P SU]H FLHUDGOH  SL SU]HFLH  DOH QLHFK RQ QLH FRID WHM U NL D WZRMD U ND QDELHUD SHZQR FL MX MHM QLH FRIQLHV] $ XGR PDP Z W\P PLHMVFX UR]ZDORQH

2 WXWDM R  R WX PDP QDVW SQ\ ODG SR FLHUSLHQLX PLáRVQ\P $ PQLH PXVLHOL ]V]\ü :\V]áDP ] SVHP QD VSDFHU  WDNLHJR PLHOL P\ OLF]QHJR SVD GRW G VL JDá D PR H GRW G Z ND  G\P UD]LH áHE PLDá QD Z\VRNR FL ZáD QLH PRMHJR XGD /LS\ SUDZLH NZLWá\ ZLRVQD ]D FKZLO NRQLHF V]NRá\  GR G]LVLDM P\ O Z NDWHJRULDFK Ä]D FKZLO ZDNDFMH  VWDáDP SRG W\PL OLSDPL L QDPDZLDáDP SVD HE\ V]\EFLHM VLXVLDá D ]]D EORNX Z\V]HGá 0DUHN  NRFKDá VL ZH PQLH  PLDá  ODW L NXUDWRUD L NU]\NQ á  FR NU]\NQ á" &R Z URG]DMX  7H PDP ] WRE GR SRJDGDQLD &]\ FR WDNLHJR $ VL ]DJRWRZDáDP ZV]\VWNLH G]LHFLDNL ZSDWU]RQH ZH PQLH SRVWUDFK SRGZyUND ZDOL WDNL WHNVW RF]\ZL FLH Z]UXV]\áDP UDPLRQDPL SLHV DNXUDW ]QDOD]á LQWHUHVXM F\ ODG SR VXF]FH QLH GDZDá VL RGFL JQ ü 0DUHN NU]\NQ á  1R SRGHMG WX 6P\F] VL Z\SU \áD G]LHFLDNL ZJDSLDá\ VL ZH PQLH  G]L E\P SRZLHG]LDáD H SRG SUHVM RSLQLL SXEOLF]QHM RGNU]\NQ áDP RGZD QLH  'DM W\ PL ZL W\ VSRNyM $ ZWHG\ 0DUHN SRGQLyVá NDZDá V]\E WDNLH JUXEHM ] GU]ZL ZHM FLRZ\FK L SRZLHG]LDá  3RGHMG  ER FL SVD XSLHUGRO   6SUyEXM  SRZLHG]LDáDP , ZWHG\ U]XFLá WHQ NDZDá V]NáD WDN MDNE\ SXV]F]Dá NDF]N  SURVWR Z %U\VLD =DVáRQLáDP JR  QDZHW QLH SRGQLyVá JáRZ\  D MD SRF]XáDP  JRU FH VPDJQL FLH QD QRG]H WDNLH RVWUH NUyWNLH VSDU]HQLH L WR JRU FR VSá\Q áR D GR WHQLVyZNL 0DUHN NU]\NQ á Ä2 -H]X  VSRMU]DáDP QD QRJ  E\áD FXGRZQLH F]HUZRQD NXFQ áDP  QLF QLH ERODáR W\ONR Z URGNX WHM F]HUZLHQL SRMDZLá VL Z Zy] ]DSHáQLDM F\ VL V]\ENR ZLH NUZL  NWR SRELHJá ]DG]ZRQLü 3U]\MHFKDáR SRJRWRZLH L ]DEUDOL PQLH QD V]\FLH XGD 0DUHN MHFKDá QD URZHU]H ]D NDUHWN  ZLG]LDáDP JR Z\UD QLH SU]H] W\OQ V]\E  ]DQLP QLH Z\MHFKDOL P\ Z *UyMHFN  'ZDQD FLH V]ZyZ GR G]LVLDM EOL]QD $ WZRMD U ND WDND FLHSáD SHZQD ]QD PyM ND G\ NDZDáHF]HN D MD ] WDNLP GU HQLHP F]HNDP D RPLQLH EOL]Q  SU]HVXQLH VL Z\ HM 8ZLHOELDP E\ü WDN GRW\NDQD 1LH ZLG]  QLH Vá\V]  &]XM W WZRM U N  , SRWHP WDN VDPR 1LH ZLG]  QLH Vá\V]  6LHG]LP\ UD]HP WDN GX R OXG]L W\ONR MHGQD NRELHWD QLH SDWU]\ QD PQLH DOH MDN H MHVW ]DEDZQLH  RSRZLDGDP\ KLVWRULH SUDZG]LZH  RSRZLDGDQLH KLVWRULL SUDZG]LZ\FK MHVW ]DZV]H LQWHUHVXM FH SRQLH ZD QLNW QLH Z\P\ OL OHSV]\FK 2 QD SU]\NáDG MDN 6DUQLFF\ SRV]OL GR SU]\MDFLyá QD EU\G D 3R F]ZDUW\P UREU]H L NRODFML RWZRU]\OL ZKLVN\  SLOL ZKLVN\ D ZSDGOL QD SRP\Vá HE\ Z OLSFRZ QRF SRMH G]Lü QD QDUWDFK ']LHZL WH SL WUR QD -HUR]ROLPVNLFK  ROEU]\PLH EORNRZLVND PLHV]NDQLH SU]\ PLHV]NDQLX ]V\S\ GR PLHFL QD ND G\P SL WU]H 7R ZD QH ]V\S QD PLHFL F]DVHP RGJU\ZD G]LHMRZ URO   1R ZL F SDQRZLH VL VSLZV]\  ] SDZODF]D ]RVWDá ]GM W\ VSU] W QDUFLDUVNL NRPELQH]RQ\ QDUW\ JRJOH VURJLH  ]DáR \OL WR ZV]\VWNR L SRVWDQRZLOL ]MHFKDü MHGQR SL WUR VFKRGDPL HE\ SU]\SRPQLHü VRELH WR ZVSDQLDáH XF]XFLH $ FLFKXWND V VLDGND HPHU\WND PLHFL SRV]áD DNXUDW Z\QLH ü 1DXNRZLHF ZSDGá QD QL ] SyáSL WUD NRELHWD ZDOQ áD JáRZ Z FLDQ  PLHFL VL SRWRF]\á\ SDQRZLH RWU]H ZLHOL QDW\FKPLDVW  SRJRWRZLH L WH U]HF]\ 3RQLHZD OXG]LH NXOWXUDOQL UDQR SRELHJOL GR V]SLWDOD GRZLHG]LHü VL  FR ]H VWDUV] SDQL  6WDUV]D SDQL MX E\áD SU]\WRPQD SR EDGDQLDFK ((*  Z Py]JX QLF  LG GR OHNDU]D SURZDG] FHJR ]DWURVNDQL $ OHNDU] PyZL H QR EDGDQLD Z SRU] GNX W\ONR VWDUXV]ND MHVW QLHQRUPDOQD ER XSLHUD VL  H QDUFLDU]H QD QL ZSDGOL 6LHG]LP\ VRELH L RSRZLDGDP\ WDNLH KLVWRULH  D MD PDP ZUD HQLH H QDUFLDU]H QD PQLH ZSDGOL H ZLG] U]HF]\ NWyUH QLH V 

7DPWD NRELHWD QLH SDWU]\ QD PQLH  MDN WR GREU]H ZLGDü NLHG\ NWR QD FLHELH QLH SDWU]\ DOH RF]\ZL FLH Z Py]JX PL VL QLF QLH ]DSDOD  PyM Z\á F]QLN EH]SLHF]H VWZD PRMD F]HUZRQD ODPSND SU]HSDORQD QD DPHQ  W\ONR F]XM FR R OL]JáHJR Z MHM VSRMU]HQLX NWyUH Eá G]L Z RNROLFDFK PRMHJR P D $OH Z W\P QLH PD DGQHJR QLHEH]SLHF]H VWZD D MD PDP SDUDQRM  ZFDOH QD FLHELH VSHFMDOQLH QLH SDWU]\ MD MHVWHP SU]HZUD OLZLRQD :UDFDP\ GR GRPX ZLHF]yU áDJRGQLHMH QDSL FLH PLMD -HVWHP Z ]á\P VWDQLH 6WRLP\ Z áD]LHQFH MD MX RSDWXORQD U F]QLNLHP  W\ QDP\GODV] J EN Sá\QHP GR P\FLD 3K SL ü L Syá 0LáR E\áR" 0LáR E\áR  $OH WD 2OD PQLH FR XQLND  U]XFDP RG QLHFKFHQLD WDN VRELH QLH P\ O F R QLF]\P ER MDN ZLD GRPR PQLH WDNLH U]HF]\ QLH GRW\F]   2QD" 'DM VSRNyM SU]HFLH MHVW WDND PLáD 7DND EH]SR UHGQLD 2QD QLH UREL QLNRPX SU]\NUR FL 7\ MHVWH SU]HZUD OLZLRQD  0R H MHVWHP  ]JRG]LáDP VL ZWHG\ DGQHM ODPSNL DGQHJR Eá\VNX QLF QXOOR  0R H MHVWHP  GRGDáDP  0R H WR SU]H] WHQ MHM JáRV 7DNL VNU]HF] F\  2QD" 2QD ZFDOH QLH PD VNU]HF] FHJR JáRVX 2. 6á\V] U]HF]\ NWyUH QLH V  $ W\ PyZLV]  1LH ND G\ PR H PLHü WDNL FLHSá\ JáRV MDN WZyM  G]L NL %RJX  D MD PDP FLHELH L WZyM JáRV $ Z QRF\ VL NRFKDP\ 'REUD QLH E G  1DSLM VL KHUEDW\ XP\ZDON DOER NOR]HW ]DSFKDü Z\QLND ] QLHX ZLDGRPLRQHM Já ERNLHM SRWU]HE\ EOLVNLHJR NRQWDNWX ] K\GUDXOLNLHP  , VL UR]H PLDá , MDN ZUyFLáH ] W\FK ZDUV]WDWyZ WR SRV]HGáH GR SLZQLF\ ZUyFLáH ] NOXF]HP IUDQFXVNLP Z NLHV]HQL L SRZLHG]LDáH   :V]\VWNR MX ZLHP X FLHELH WR E\áD ]DZV]H X ZLDGRPLRQD SRWU]HED  L NRFKDOL P\ VL Z NXFKQL QD SRGáRG]H $ IXV\ WR MD ]DZV]H Z\OHZDP GR ]OHZX 1LH ZLHP GODF]HJR .LHG\ NWR SRZLHG]LDá H WDNLH IXV\  W\ONR QLH SDPL WDP F]\ ] NDZ\ F]\ KHUEDW\  WR GREU]H UREL UXURP 3U]HF]\V]F]DM MH -DN SLHUZV]\ UD] ]REDF]\áH  H WDN UREL  WR D NU]\NQ áH  $ SRWHP SRZLHG]LDáH  H SU]H] WH SL üG]LHVL W V]H ü ODW FR PDP\ UD]HP SU]H \ü WR PR H VL QDXF] Z\OHZDü GR NORSD $ SRWHP SDPL WDV]" 1D MDNLFK ZDUV]WDWDFK MHGHQ PáRG\ P DOLá VL WHUDSHXFLH H W\ONR MHGQHM U]HF]\ QLH PR H ]QLH ü D PLDQRZLFLH RQ NRFKD RQ EDUG]R DOH QLH MHVW MHM Z VWDQLH Z\EDF]\ü H RQD EH] SU]HUZ\ ZU]XFD IXV\ GR ]OHZX L WHQ ]OHZ MHVW OXE E G]LH Z QDMEOL V]HM SU]\V]áR FL SHUPDQHQWQLH ]DWNDQ\ , FR WR ]QDF]\" $ WHUDSHXWD WDN SRSDWU]\á SR ZDV ZV]\VWNLFK XZD QLH L SRZLHG]LDá  :U]XFDQLH SU]H] NRELHW\ GR ]OHZX XP\ZDONL F]\ NOR]HWX Uy Q\FK U]HF]\ NWyUH PRJ U]HF]RQ\ ]OHZ $ (ZD PL PyZL R VZRLP P X  :LHP H GR WDPWHM G]ZRQL D SRZLHG]LDá H ]HUZDá  á]\ NDSL QD REUXV  1LH V]NRG]L QLH V]NRG]L ]REDF]\V] FR E G]LH QDMZD QLHMV]H QDMZD QLHMV]H WU]HED RFDOLü MH OL VL WHJR QLH RFDOL  WR QLH ]RVWDMH QLF ZDUWR SRZDOF]\ü  QLH R QLHJR R VLHELH (ZD SRGQRVL QD PQLH VNRSDQH RF]\  1DSUDZG WDN P\ OLV]" 0yZL ] SU]HNRQDQLHP  3U]HFLH VL QLH ZLH FR MHVW ZD QH GRSyNL QLH PR HV] WHJR XWUDFLü -DN Z\EDF]\V] PyZL FL WR FL OHSLHM :\EDF]HQLH NRL EyO = QDPL MHVW LQDF]HM  -DN NLHG\ VWDáDP Z RNQLH L E\áR WDN FXGRZQLH SL NQLH ]DFKRG]LáR VáR FH EU]R]\ RGVWDZDá\ RG QLHED WDNLH GUREQH RVLNRZDWH GU FH E\áR ODWR NáRV\ ]ER D PLHQLá\ VL PJOL FLH MDN JUXE\ PRKHU SWDNL ]DQRVLá\ VL SU]HGZLHF]RUQ\P XMDGDQLHP  VWDáDP Z RNQLH L SRP\ ODáDP H MHVW WDN FXGRZQLH H Z WDNL G]LH SRZLQQR VL XPU]Hü  D W\ VWDQ áH

]D PQ  SU]\WXOLáH PQLH GR VLHELH RSDUáDP SOHF\ R WZRM SLHU  MHGQ U N WU]\PDáH PQLH ]D EU]XFK GUXJ SRáR \áH QD PRLP RERMF]\NX F]XáDP MDN MHVWH P\ MHGQR FL  ]DFKRG]LP\ UD]HP ]H VáR FHP ]VW SXMHP\ Z ZLHF]yU VSRNRMQ\ OHQLZ\ ]DZV]H QDV] , SRZLHG]LDáH   'ODF]HJR FL VPXWQR" =REDF] PDP\ ZV]\VWNR F]HJR QDP WU]HED $ MD SRZLHG]LDáDP  $OH QLH GR \MHP\ MX QDV]\FK GX \FK GU]HZ NWyUH SRVDG]LP\ $ W\ SRFDáRZDáH PQLH Z V]\M L SRZLHG]LDáH   $OH E G]LHP\ UD]HP SDWU]Hü MDN URVQ  WR ZD QLHMV]H 7DN EDUG]R FL NRFKDP 7DN E\áR $OH WX SHáQR SHWyZ PXV] FK\ED Z\ZDOLü SRSLHOQLF]N  $ SURSRV PLHFL 8 $QNL Z EORNX PLHV]NDá IDFHW NWyU\ PLDá NRFKDQN QD GROH RQ RV]XNLZDá ODW SDU  Z\MH G DM F QD GHOHJDFMH SL WUR QL HM $ SHZQHM QRF\ MDN E\á QD WHM GHOHJDFML NRFKDQND JR Z\VáDáD ] NXEáHP PLHFL =V\S QD V]yVW\P E\á ]DWNDQ\ SRV]HGá QD VLyGPH Z\ZDOLá NXEHá Z SLG DPFH VWDQ á SRG GU]ZLDPL L ]DG]ZRQLá GR ZáDVQHJR PLHV]NDQLD 2WZRU]\áD RQD VSRNRMQLH SU]HV]HGá GR NXFKQL RWZRU]\á V]DIN SRG ]OHZHP L ]REDF]\á SHáQ\ NXEHá 3RWHP ]HPGODá 3RWHP VL UR]ZLyGá 0LHV]NDQLD Z EORNDFK V QLHV]F] FLHP GOD ]GUDMFyZ 1R GREUD 0LVLX QLH MHVWHP Z GREU\P VWDQLH &R MD FKFLDáDP SRZLHG]LHü" -DN WU]\PDP U FH Z JyU]H WR PQLHM EROL 2 WDN WDN QLHGDZQR WR ZV]\VWNR WD F]\áDP SU]HG OXVWUHP VSyGQLF RSX FLáDP QD ELRGUD JRá\ EU]XFK  DOH ZFL JQ áDP  JRáH SLHUVL  U FH SRGQLHVLRQH  Z\JO GDáDP UHZHODF\MQLH NU FLáDP W\PL ELRGUDPL D W\ Z\GDZDáR PL VL  SDWU]\V] ] ]DFKZ\WHP %R H QLH Z\WU]\PDP WHJR ] SLHUGRORQ\P ]DFKZ\WHP  QLVNL WRQ JáRVX  FKRG MX GR PQLH QLH P F] PQLH WDN FKRG MX  7DNL VHNVRZQ\ WRQ IDFHWD NWyUHPX MX VWRL L NWyU\ QLH FKFH F]HNDü %R RF]\ZL FLH NRFKD L SR GD $ MD LGLRWND ] W\PL JRá\PL F\FNDPL ] X PLHFKHP  F]XáDP VL WDN SHZQLH WDN EH]SLHF]QLH 1LJG\ WHJR QLH URELáDP 1LH PLDáDE\P ZF]H QLHM URELü WDNLFK U]HF]\ 1R PR H WDWX QLH E\áE\ ]DGRZRORQ\ &]\ WDWX E\áE\ ]DGRZRORQ\ H FyUHF]ND ZLHFL JRá\PL F\FNDPL SU]HG REF\P Z NR FX IDFHWHP" :WHG\ WH E\á\ WD FH NDUQDZDá  .DUQDZDá  RGNU\ZF]R NWR SRZLHG]LDá  7R PR H X QDV"  7\ SU]\WXOLáH PQLH Z SDVLH 2. 0R H X QDV 3R W\P VSRWNDQLX Z QDV]\P GRPX GRVWDáDP V]DáX -HV]F]H RF]\ZL FLH QLF QLH ZLHG]LDáDP DOH MH OL JR ü Z PRLP GRPX QLH RG]\ZD VL GR PQLH SU]H] VLHGHP JRG]LQ D MHVW RVLHP RVyE UDSWHP WR F]\ P\ ODáH  H MD WHJR QLH ]DXZD " 7D F]\á aH PQ FDá\ F]DV D NLHG\ SRV]áDP RGJU]Dü FKL VNLH MHG]HQLH RGZUyFLáDP VL  ]REDF]\áDP R WX Z V]\EDFK MDN RQD VL SRGQRVL L QDW\FKPLDVW SRGFKRG]L GR QLHJR L MDN RQ REHMPXMH M  F]HNDáD QD WHQ PRPHQW %R H SU]HFLH QLH E G LGLRWN  3U]HFLH F]áRZLHN ] NWyU\P \M  PD SUDZR WD F]\ü ] NLP FKFH SU]HFLH QLH E G URELü DZDQWXU\ SU]HFLH QLH SRVLDGDP JR QD ZáDVQR ü SU]HFLH PXV] ]DFKRZ\ZDü VL JRGQLH SU]HFLH PXV] ]DM ü VL VRE  D QLH OHG]Lü JR QLH NRQWURORZDü QLH VSUDZG]Dü QLH SLOQRZDü 0LHV]DáDP DUFLH  WR QLH MHVW PLáR ü SRP\ ODáDP 3U]HFLH MHVWH F]áRZLHNLHP ZROQ\P 0LáR ü WR ]DXIDQLH GR GUXJLHM RVRE\  WDN PyZLáH 3U]HFLH ZLHP H PQLH QLH ]UDQLV] 3U]HFLH PyZLáH  ZLHP QD SHZQR ZLHP H FL QLJG\ QLH VNU]\ZG]  % G]LHP\ \OL SU]H] SL üG]LHVL W V]H ü ODW $OH MDN ZHV]áDP ] MHG]HQLHP WR MX VLHG]LDáD SRG NRPLQNLHP MDNE\ QLJG\ GXS\ ] WDPWHJR PLHMVFD QLH SRGQLRVáD 6LHG]LDáD ] W\PL ZáRVDPL MDN JOXW $ R GUXJLHM Z QRF\ GR ZLG]HQLD GR ZLG]HQLD VUDOLV PD]JDOLV MDN E\áR PLáR QDSUDZG  GR ]REDF]HQLD EOH EOH EOH WU]HED WR NRQLHF]QLH SRZWyU]\ü 7U]HED WR NRQLHF]QLH SRZWyU]\ü 6]ODJ PQLH WUDILá

 1LH REUD DM PRMHM LQWHOLJHQFML  ZU]HV]F]DáDP  :LHP H E G]LHV] URELá FR FKFHV] DOH QLH \F] VRELH ZLG]LHü MHM ZL FHM Z PRLP GRPX  $OH GODF]HJR" 7R WDND PLáD NRELWND  3U]HFLH QLH E G FL NRQWURORZDü 1LH E G FL OHG]Lü 0R HV] URELü FR FKFHV] WR $OH QLJG\ MHM QLH ]DSUDV]DáDP ]DZV]H SU]\FKRG]LáD QD GRF]HSN GR WRZDU]\VWZD QLJG\ ] P HP $ W\  2FK ZLHV] MDN JR SUDFD ZFL JD 2Q QLJG\ QLH PD F]DVX  $OH MD QLH FKF MHM ZL FHM Z PRLP GRPX $ W\ QDJOH ]UR]XPLDáH   .RFKDQD NRFKDQD ZLHV] H MHVWH GOD PQLH QDMZD QLHMV]D SU]\VL JDP FL H QLJG\ MX RQD GR WHJR GRPX QLH ZHMG]LH FK\ED H ]PLHQLV] ]GDQLH 7R QLH RQD MHVW ZD QD W\ONR W\ MDN PR HV] Z RJyOH WDN P\ OHü SU]HFLH W\ MHVWH PRMD W\ONR W\ MX ]DZV]H 1LH SVXM WHJR FR MHVW PL G]\ QDPL NRFKDQD 1LH SDPL WDV] H XPyZLOL P\ VL QD SL üG]LHVL W V]H ü ODW" 3DPL WDP 7R FR WR MD PLDáDP ]URELü" $ SDPL WDV] MDN NLHG\ VL REXG]LáDP QDG UDQHP L RWZRU]\áDP RF]\ : V\SLDOQL MX QLH E\áR FLHPQR L MHV]F]H QLH E\áR MDVQR : WHM V]DUR FL QDSRWNDáDP WZyM Z]URN L X PLHFKQ áH VL GR PQLH  3DWU] QD FLHELH  SRZLHG]LDáH   -DN SLV] DO PL F]DVX NLHG\ MHVWH RERN 3DWU] QD FLHELH $ WHUD] MD ZLG] U]HF]\ NWyUH QLH V  6]NODQND WR QLH MHVW V]NODQND VWyá QLH MHVW VWyá FR QDSLVDá +HUEHUW R VWROH" 7R E\áR ZD QH 3U]\SRPQ VRELH 1LH FKF VRELH SU]\SRPLQDü 3LHSU]\ü +HUEHUWD 1LH ZLHP GODF]HJR PDP VL Z W\P ZV]\VWNLP EDEUDü 1DOH \ EUDü \FLH WDNLH MDNLH MHVW 1LH F]HSLDM VL SU]HV]áR FL  MHVW PDUWZD &RKHQ Z\O GRZDá Z NODV]WRU]H EXGG\VWyZ L \MH WDP RG GZyFK ODW : SUDZG]LZ\P SR]QDQLX VLHELH WNZL ZROQR ü PLáR ü L QLH]DOH QR ü  WDN PyZLáH  $ MD PDP QRZH ]PDUV]F]NL NRáR RF]X 0DP QRZH ]PDUV]F]NL -DND V]NRGD 7XWDM PL VL WDNLH FR ]URELáR 1LH PLDáDP WHJR 6NyUND MDN ] %LXUND &KRFLD ZáD FLZLH PQLH WR JyZQR REFKRG]L 3UDZG]LZH GEDQLH R VLHELH QLH SROHJD QD ZNOHS\ZDQLX NUHPyZ $OH WXWDM WHJR QLH PLDáDP 0DP QDG]LHM  H PL VL QLH ]UREL WDNL PDáSL S\V]F]HN REZLVáH SROLF]NL ]DFL WH XVWD  WDNL PDáSL S\V]F]HN ]GUDG]DQ\FK NRELHW $ PR H PL VL ]UREL 1LF PQLH WR QLH REFKRG]L -D" -D PDP SDUDQRM " 2VWDWNL 6UDWNL 7HOHIRQ RVWDWNL 2F]\ZL FLH SyMG]LHP\ 2F]\ZL FLH MDN HE\ LQDF]HM 3RGMH G DP\ &]HUZRQHJR PHUFHGHVD QLH PD 2GG\FKDP $OH NUyWNR ER RQD VLHG]L  2 QLHNWyU]\ P RZLH QDZHW Z RVWDWNL FL NR SUDFXM  ]DXZD \á PyM P   +D KD  2OD FR ]D LPL  REáH MDNLH 2RROD 2OD VL PLHMH VNU]HNOLZLH  MDN P F]\]QD QLH PD JUXEHJR PL G]\ QRJDPL SRUWIHOD WR FR ] QLHJR ]D P F]\]QD KD KD KD 1R GRSUDZG\ KD KD KD $OH PLHV]QH %RNL ]U\ZDü :LWDP\ ZLWDP\ 'ULQNL VRF]NL VURF]NL VDáDWNL ]áRWH P\ OL  0 SRZLQLHQ EDUG]LHM XZD Dü QD RQ   $OER RQD QD P D KD KD KD  VNU]HNOLZH  1LJG\ QLF QLH ZLDGRPR $QR QLH ZLDGRPR $ SURSRV NWR U]XFD $ MHGQD SDQL MDN ]DVWDáD P D ] LQQ SDQL  WR Z\ND]DáD NODV L SRZLHG]LDáD VSRNRMQLH ÄSURV] VL XEUDü ]UREL NDZ L F]HNDP QD SD VWZD Z VDORQLH =URELáD NDZ  SRPRGOLáD VL Z GXFKX L GDOHM VSRNRMQLH Ä:\GDMH PL VL  H SRZLQQL P\ R W\P SRUR]PDZLDü  WX ]ZUyFLáD VL GR REFHM  PDP ZUD HQLH H RELH MHVWH P\ RV]XNLZDQH 0 PLOF]Dá MDN JUyE D SDQLHQND ] DNFHQWHP ZDUVLDVNLP SRZLHG]LDáD Ä1R WR FKLED QLHFK SDQL PyZL ]D VLHELH QR ER MD WR ZLHG]LDáDP H MHVW RQDW\ 1R L FR QR L FR" 1R L SVWUR

3DPL WDV] MDN ZV]\VF\ RF]HNLZDOL NR FD WHM KLVWRULL" 1R L QLF $ W\ QD WR  $ ER JáXSL E\á -D WR E\P VL SRGQLyVá L SRZLHG]LDá Ä.RFKDQLH WR QLH MD  8ZLHU]\áDE\ SUDZGD" :V]\VF\ JUXFKQ OL PLHFKHP QDMEDUG]LHM VNU]HF] FR 2OD L PyZL GR PQLH VSHFMDOQLH GR PQLH  1R L FR QR L FR" $ MD ZWHG\ SDWU] MHM SURVWR Z RF]\ L PyZL   =DVWDM VZRMHJR P D LQ IODJUDQWL L PyZL GR QLHJR F]H ü NRFKDQLH ]DSáDü SDQL NRODFMD QD VWROH 7RZDU]\VWZR KL KL KD KD &DáNLHP PLá\ ZLHF]yU SR]D W\P 2OD UDMVWRSNL ]GM áD ER S Ná\ VSyGQLFD UR]SL WD SR XGD XGD NUyWNLH DOH ]D WR FDáH Z SRS NDQ\FK QDF]\QNDFK L ZLVL QD PRLP P X ]QRZX $ RQ ]DGRZRORQ\ $ M D QLF :UDFDP\ GR GRPX MD SURZDG]  D W\ PL QDJOH NXUZD MDNLH MD PDP SUDZR HE\ OXG]LRP SU]\NUR FL URELü" &]\ RQD FL FR ]URELáD" &]\ RQD PL FR ]URELáD" :FKRG]LP\ GR GRPX D MD QLH ZLHP JG]LH MD MHVWHP  3U]HFLH WR E\á\ DUW\ D W\ WDN QD SRZD QLH 3RF]XFLH KXPRUX FL QDZDOD 7DNLP WRQHP GR QLHM  2Q GR PQLH WDN PyZL 6]ODJ PQLH WUDILá Z\SDGDP ] GRPX U]XFDP VL GR VDPRFKRGX Zá F]DP VLOQLN GZyMND KXF]\ =D EDUG]R WR VL QLH QDMH G]LáDP ER ]DUD] QD JáyZQHM JOLQ\ VWDá\ L PQLH ]DWU]\PDá\ : FLHNáD E\ áDP MDN VWR GZDG]LH FLD  'RZyG  PyZL PL IDFHW :\FL JDP GRZyG RVRELVW\ L SRGDM  6SRMU]Dá QD PQLH G]LZQLH L ZDUF]\  5HMHVWUDF\MQ\ 3RGDM   2G NLHG\ VL MH G]L QD ZLDWáDFK"  ZDUF]\ .XUGH VN G MD PDP WR ZLHG]LHü"  2G NLHG\ ]DáR \OL  2G SLHUZV]HJR OLVWRSDGD  V\F]\  GR SLHUZV]HJR PDUFD $ Z GRGDWNX MHVW QRF F]\ SDQL QLH ZLG]L H SDQL QLH PD ZLDWHá" 1R L WX QLHVWHW\ SU]HVDG]Lá $ VN G MD GR FKROHU\ PDP ZLHG]LHü H QLH PDP ZLDWHá MDN MD MHVWHP Z URGNX D ZLDWáD QD ]HZQ WU]" 1DZHW PL PDQGDWX QLH GDá :UyFLáDP GR GRPX F]HNDáH QD PQLH F]DMQLN V]XPLDá  &R W\ Z\SUDZLDV]" :LHV] MDN MHVW Sy QR"  7\ ZUDFDV] SU]HFLH MHV]F]H Sy QLHM  $OH MD SUDFXM  PyZLV]  &R VL ] WRE G]LHMH" 1R ZáD QLH VN G PDP ZLHG]LHü MDN MHVWHP Z URGNX" 3DUDQRMD FLHPQRQLHELHVND ] RGFLHQLHP 2. 0LVLX SRP\ ODáDP 1LH MHVWHP Z GREU\P VWDQLH 7U]\ SV\ Z W\P MHGQD VXND ] FLHF]N  QR Z\REUD VRELH MDND WR MHVW ]DEDZD -HGHQ WHQ GX \ ZLOF]XU  Z RJURG]LH : RJURG]LH WR GX R SRZLH G]LDQH  SLHZD SRG GU]ZLDPL ZHM FLRZ\PL GU]D]JL OHF  EHWRQ Z\ ZLHFRQ\ RGFL JQ ü JR QLH PR QD VXND Z SU]HGVLRQNX JáyZQLH ]DM WD ]H HUDQLHP EXWyZ ER VL ]DSRPQLDáR Z\QLH ü SDU UD]\ Z SU]HGSRNRMX $]RU ]DQRVL W VNQH ÄGDM GXSFL  ZDO F áDSDPL SR WHUDNRFLH HE\ Z\M ü ] GRPX PXVLV] RGFL JQ ü $]RUD ZQLH ü EXW\ GR VLRQNL  MH OL SU]\SDGNLHP QLH ]D SRPQLDáD LFK ZF]H QLHM Z\QLH ü  XEUDü VL  VXND NZLF]\ L VWDUD VL SROL]Dü FL SR ZV]\VWNLP .XED ZDOL FDá\P FLDáHP Z GU]ZL ZHM FLRZH SU]HF]XZDM F RWZDUFLH OX]\ XELHUDV] VL V]\ENR ZDOF] F ] QDPROQ VXN  XFK\ODV] GU]ZL  QDMSLHUZ ZVDG]DV] NRODQR .XED PLPR H ZD \ F]WHUG]LH FL SL ü NLOR ]DPLHQLD VL Z Z D L QD Z\VRNR FL á\GHN SUyEXMH VL ZFLVQ ü Z V]SDU  ] NRODQHP Z\VXQL W\P GR SU]RGX GDMHV] PX RGSyU MX Z SURJX RGZUDFDV] VL V]\ENR L SU]HNU FDV] NOXF] Z GU]ZLDFK GR SU]HGSRNRMX $]RU ZDULXMH SR VWURQLH GRPX .XED ZDULXMH SR VWURQLH RJURGX ]DP\NDV] ] KXNLHP GU]ZL ROEU]\PLH áDS\ GHSF] FL SR VWRSDFK RZáRVLRQH FLHOVNR RFLHUD VL R XGD QDSLHUD  D QX 

:VLDGDP GR VDPRFKRGX VSRFRQD SVLDNUHZ D V]RVD REORG]RQD -DN RQD ZFKRG]LáD GR PRMHJR GRPX" 1LH E G R W\P P\ OHü 1LH FKF R W\P P\ OHü 'REU]H :L F FR MD FKFLDáDP SRZLHG]LHü +HU EDWD /XEL KHUEDW  7R QDMEDUG]LHM Z\NZLQWQ\ WUXQHN

1LRV W NDZ L W KHUEDW  SDWU] QD FLHELH L ZLG]  ZV]\VWNR ZLG]  ZV]\VWNR ZLHP  RQD MH G]L W\P SLHSU]RQ\P PHUFHGHVHP MDN MHM P Z GHOHJDFML E\áD WX WR RQD E\áD SU]\VL JDP H QLJG\ QLH ZHMG]LH GR WHJR GRPX  NRFKDQD MHVWH GOD PQLH QDMZD QLHMV]D 3DWU] QD WHJR VZRMHJR P D L QLH ZLHU]  L S\WDP LGLRWND MHV]F]H S\WDP MHV]F]H UD] S\WDP  2QD E\áD" $ V VLDG VáRG]L NDZ  Z QDJáHM FLV]\ W\ONR WD á\ HF]ND D W\  D WRELH WZDU] FRUD] EDUG]LHM VLQLHMH 0yZLV] GR V VLDGD  0XVLDáH VL SRP\OLü QLNRJR QLH E\áR 6á\FKDü Z\VRNL ZU]DVN ED DQWD PDUWZLHM   0R H WR E\áD áDGD QLH PHUFHGHV  ]JDG]D VL QDJOH V VLDG  0XV] L ü 1LH GRSLWD NDZD ]RVWDMH QD VWROH RQ Z\FKRG]L SV\ V]F]HNDM SU]\ IXUWFH SRWHP ELHJQ Z]GáX SáRWX VWRM QD JDQNX L SDWU] QD EH]OLVWQH GU]HZD PR HP\ UD]HP SDWU]Hü MDN URVQ  -DN PR HP\ UD]HP SDWU]Hü MDN URVQ " 7DN ]LPQR WDN VWUDV]QLH ]LPQR ZFKRG] GR URGND VLDGDP RERN FLHELH SU]HUD RQHJR P D  GR V\ü GRV\ü  QLH NáDP QLH NáDP  D W\ SRGQRVLV] VL ] IRWHOD SRWU FDV] ILOL DQN  NDZD FLHPQ\P VWUXPLHQLHP FLHNQLH SR ]áRWDZHM VHUZHFLH SR IU G]HONDFK NDS NDS NDS QD G\ZDQ  E G]LH SODPD  QLH NáDP  WHUD] QLH NáDP  D W\ RGZUDFDV] VL L NU]\F]\V]  2ZV]HP SLHUGROLáHP M ZF]RUDM QD JyU]H Z WZRLP SRNRMX ]DGRZRORQD MHVWH " %ODGRQLHELHVNL NRORU PRMHM SDUDQRL FLHPQLHMH WR MX F]HU  L WR QLH SDUDQRMD SODPD QD G\ZDQLH UREL VL FRUD] FLHPQLHMV]D ZL F WR WDN" 7DN 7DN VRELH 1R SURV]  3R SURVWX 7X MHVW WD SODPD QLH ZLHP F]\ WD SODPD SX FL RG NDZ\ WDN WUXGQR Z\ZDELü 2G NDZ\ WDN FL NR RG RZRFyZ WH  $OH PR QD Z\PRF]\ü Z ZRG]LH ] FKORUNLHP ] ELDáHJR PDWHULDáX ] EDZHáQ\ $ ] NRORURZ\FK OHWQL ZRG P\GODQ  WDN VL MX QLH PyZL $OER UR]FLH F]RQ\P DPRQLDNLHP D ] MHGZDELX" MHGZDE MHVW GHOLNDWQ\ ZyGN  DOER JRU F\P POHNLHP D NDZ " = G\ZDQX" , V]XP Z XV]DFK , ZLDW OHNNR SU]HFK\OD VL QD RELH VWURQ\ , GU]HZD GRW\NDM NRURQDPL ]LHPL , ]LHPLD Z]QRVL VL NX JyU]H L áDJRGQLH RSDGD , QLHER VNáDQLD VL NX GRáRZL $ MD VWRM QLHSRUXV]RQD Z FHQWUXP WHJR ]DPLHV]DQLD 1LH G]LZL VL QLF]HPX 1LH PRJ SRZVWU]\PDü DQL ]LHPL DQL QLHED 8VWD SXFKQ  %H]ZLOJRWQ\ M ]\N L QLH PD MDN SU]HáNQ ü OLQ\ *DUGáR ]DFLVND VL L KHNWROLWU\ NUZL Z JáRZLH 2F]\ ERO FRUD] EDUG]LHM :LG] FRUD] Z\UD QLHM W U]HF]\ZLVWR ü R MDNLHM QLH PDP SRM FLD MDNLHM MHV]F]H SU]HG FKZLO QLH E\áR MDNLHM QLH GRVWU]HJDáDP MDNLHM QLH SRGHMU]HZDáDP R LVWQLHQLH D NWyUD WHUD] MDZL VL Z FDáHM RND]DáR FL L ]DJDUQLD PLHMVFH WHM LQQHM WHM QLHSUDZG]LZHM JG]LH ZV]\VWNR PLDáR VZyM F]DV L PLHMVFH 1LHSUDZG]LZ\ F]DV L QLHZáD FLZH PLHMVFH , WR MHVW WDN OHSNLH FKáRGQH GáRQLH ]DFL QL WH Z SL FL RSLHUDP R SROLF]NL QLHFK QLNW QLH ]DXZD \ FR VL G]LHMH QLHFK QLNW QLH ZLG]L NUZL SU]HFLHNDM FHM SU]H] ]DFL QL WH SDOFH 'DOHM SDWU] 3DWU] FR VL G]LHMH L SDPL WDM 3U]HVXZD VL WD QRZD U]HF]\ZLVWR ü QD VSU] W\  WR MX QLH WR áy NR QD NWyU\P  WR LQQH áy NR áy NR QD NWyU\P PLJRWOLZLH PUXJD MDN ZLDWáD QD SU]HM FLX MHJR ZVSRPQLHQLH QDV GZyFK Z QRZ\P áy NX QLH PD GOD PLHMVFD WDNLH E\áR GX H D WHUD] WDNLH PDOH NLH  L RNQR WR LQQH RNQR  L QLHER Z RNQLH REFH QLH]QDQH L QDUHV]FLH SUDZG]LZH DGQHM EDMNL  D ZRGD FLHNQLH ] NUDQX GR QLF]\MHM ZDQQ\ QLH QDV]HM QLE\ WHM VDPHM D ]XSHáQLH LQQHM  L QDV] SRNyM WR QLH QDV] SRNyM EH] PLHMVFD GOD PQLH  ER MX ]DM WH MX VSODPLRQH 1LF QLH PRJ ]URELü 7DPWD U]HF]\ZLVWR ü E\áD IDáV]\ZD , GRP G]LZQ\  ]D Z\VRNL" &]\ ]D QLVNL" 1RZ\ LQQ\ QLH ]DXZD \áDP ZF]H QLHM H U\QQD H GDFK H SRGPXUyZND QLH PRMD"

-DND PXVLDáDP E\ü JáXSLD HE\ ZLG]LHü LQQH U]HF]\ Z PLHMVFH W\FK NWyUH V  -DND G]LHFLQQD 1LF MX QLH MHVW 1DZHW PRMH SV\ ]EUXNDQH MHM U N  FKRG  FKRG  OLF]Q\ SLHVHN QLH XJU\]LH"  1LH DOH VN G VSRNRMQLH .XED VSRNRMQLH GREU\ SLHV ZLG]LV] SRJáDV]F] JR  &R ] SVDPL" 0R H FKRFLD NRWD QLH E\áR Z GRPX ZWHG\ ZF]RUDM D WR PQLH QLH E\áR Z GRPX D W\ E\áH  W\ E\áH L RQD E\áD Z PRLP GRPX QLH PRLP MX GRPX $OH WR MX QLH PD DGQHJR ]QDF]HQLD =DZV]H WDN E\áR WR MD SR SURVWX QLF QLH FKFLDáDP ZLG]LHü 1LH FKFLDáDP ZLHG]LHü \áDP Z Z\P\ ORQ\P ZLHFLH 8PLHUDP ] PLáR FL 8PLHUDP ] EUDNX PLáR FL 'RJRU\ZDP ']LH SR GQLX QRF SR QRF\ .D G\ UDQHN MHVW ]DVNRF]HQLHP -HV]F]H QLH" -HV]F]H MHGHQ G]LH " ']LH  SR NWyU\P ]QRZX E G XPLHUDü L QRF Z NWyUHM F]DL VL PLHUü" .URNRG\O VLHG]LDá SRG áy NLHP :FL JQ á PQLH WDP L NU]\F]DáDP WDN VWUDV]QLH NU]\F]DáDP D DGHQ JáRV VL QLH Z\GRE\ZDá $ W\ PDPR SU]HFKRG]LáD PLPR ZLG]LDáDP WZRMH SR F]RFK\ ] EU ]RZ\P V]ZHP SURVW\P V]ZHP RG SL W\ D WDP Z\VRNR DOH Z\VRNR QLH ZLG]LDáDP W\ONR á\GN ZLG]LDáDP L EXW\ ] REFDVHP L VSDGáD FL á\ HF]ND VUHEUQD NURNRG\O ]DPDUá DOH MD WH ]DPDUáDP L QLH PRJáDP VL UXV]\ü L NU]\F]DáDP NU]\F]DáDP EH]JáR QLH DOH W\ VL VFK\OLáD SR á\ HF]N L QLH VSRMU]DáD SRG áy NR JG]LH RQ PQLH WU]\PDá L QLH ]DXZD \áD PQLH 'ODF]HJR PDPR PQLH QLH ]DXZD \áD L PQLH QLH XUDWRZDáD " 'ODF]HJR PDPXVLX QLH PR HV] PQLH WHUD] XUDWRZDü" 1R L MDN ]REDF]\áDP ZWHG\ W WZRM VSHUORQ SRWHP WZDU] MDN QDJOH Eá\VQ áR %R H WR SU]HFLH SUDZGD WR ZV]\VWNR E\áD SUDZGD D SRWHP VWRLV] Z .XFKQL L NU]\F]\V]  7R MDN SLZR Z\SLMD VL SR]D GRPHP L QLH SDPL WD WR MDN SLZR QLH PRJáHP VL RSU]Hü Z\EDF] PL Z\EDF] PL MD ZLHP H SR WZRMHM VWURQLH MHVW SUDZGD L PLáR ü D SR WDPWHM FLHPQR ü L ]JXED , F]XM  H W\ QLH FKFHV] WHM MDVQR FL PR FL R FL %H]QDG]LHMQR ü G]LHMQR ü QR ü QR  ]QR  WDPSDUDPSD SDP -DN PR QD E\ü NRFKDQ  MDN VL PD WDNLH GáRQLH" =DZV]H REJU\]DáDP VNyUNL &DáH \FLH WU]\PDáDP SDOFH Z XVWDFK &DáH \FLH 1LH ZLHP PR H PLDáDP GZDG]LH FLD ODW PR H ZL FHM QD Ä3áRQ F\P ZLH RZFX  QRFQ\ VHDQV Z 5HODNVLH FDá SDF]N E\OL P\ 7DP MHVW WDND VFHQD MDN SR SUDF\ HE\ QLNW QLH ZLHG]LDá Z WDMHPQLF\ DEVROXWQHM ]RVWDMH Z ELXU]H GZRMH OXG]L HE\ VL NRFKDü 2F]\ZL FLH QLF QLH ZLHG]  H MX VL SDOL NRFKDM VL  SRWHP RQ RWZLHUD GU]ZL L ZLGDü W\ONR SáRPLHQLH RQ PyZL H SU]HELHJQLH SU]H] WR SR SRPRF HE\ VL QLH PDUWZLáD RZLMD VL PRNU\PL U F]QLNDPL L ZLGDü Z ]ZROQLRQ\FK NODWNDFK ILOPX MDN ELHJQLH SU]H] SáRQ F\ SRNyM RELMD VL R PHEOH NU FL VL Z NyáNR D SRWHP ZROQR SDGD 2QD ]RVWDMH Z MHV]F]H QLH WNQL W\P RJQLHP SRPLHV]F]HQLX FRUD] JRU FHM ZLDGRPR H QLH PD Z\M FLD QLH PD MDN XFLHF H ]DUD] 72 SR QL SU]\MG]LH  ZWHG\ XJU\]áDP VL WDN EDUG]R Z WHQ R WXWDM H VáRGND NUHZ PL VSá\Q áD D  *RLá PL VL SRWHP SU]H] WU]\ W\JRGQLH L ERODá $ Z WHQ PDá\ SDOHF WR W\ PQLH XJU\]áH  MDN E\OL P\ QD -XUDVVLF 3DUN -DN WH GUDSLH QH VWZRUNL JRQLá\ G]LHFL  FKZ\FLáH PRM U N  SRGQLRVáH GR JyU\ L XJU\]áH PQLH Z PDá\ SDOHF $ NU]\NQ áDP HE\ WDN ]DVQ ü L REXG]Lü VL ]D MDNL F]DV HE\ MX E\áR SR ZV]\VWNLP HE\P QLH PXVLDáD SDPL WDü HE\P PRJáD QRUPDOQLH \ü HE\ MX WDN QLH ERODáR HE\ VL REXG]Lü EH] WHJR

0R H ]DVQ  3y QLHM ]DG]ZRQL  7HUD] MHVWHP Z NRNRQLH $ FLV]D WXWDM WDND 1LF VL QLH PD SUDZD Z OL]JQ ü =LPD E\áD VWUDV]QLH GáXJD -HGHQ G]LH E\á WDNL H D FLVNDáR V]DG QD ZV]\VWNLP D VL G]LZLáDP H SV\ WDNLH QLH RV]UR QLRQH ELHJDM  6áR FH &DOXWH NL ZLDW SRNU\W\ FLHQLXWN ZDUVWZ ZLHF]QHJR V]NOLZD ND GD JDá ]ND ND G\ FHQW\PHWU RJURG]HQLD GDFKX U\QQ\ GU]HZD 3RP\ O R F]\P SRJRGQ\P L MDVQ\P R F]\P GREU\P :\REUD VRELH H PDV] SL ü ODW -HVWHP SL FLROHWQL G]LHZF]\QN  PDP EXFLNL WDNLH PDáH  G]LHFL FH VSRGQLH Z NUDWN  RG NWyU\FK SRáNQ áDP JX]LN Z\IURWHURZDQD SRGáRJD EU ]RZR yáW\ NLOLPHN QD WDSF]DQLH PyM EUDW Z áy HF]NX PDOXWNL PRMH EXFLNL ] ]DRNU JORQ\PL SRJUXELRQ\PL F]XENDPL SDOHF Z EX]L VáR FH Z SU]HGSRNRMX G]ZRQHN GR GU]ZL QLH QLH  NOXF] NOXF] Z GROQ\P ]DPNX F]\MH U FH NURLá\ FHEXO Z NXFKQL WR E\áR ZF]HVQH SRSRáXGQLH Z GU]ZLDFK VWDQ á RMFLHF SRJáDVNDá PQLH SR JáRZLH L PLQ á VWDáDP Z W\P SU]HGSRNRMX WDND PDOXWND WDND RGWU FRQD D RMFLHF SRZLHG]LDá ÄQR FR $VLXOHN ]REDF]\P\ FR UREL WZyM EUDFLV]HN  QDFK\OLá VL QDG áy HF]NLHP SRGQLyVá JR ]]D MHJR GX \FK SOHFyZ Z FLHPQHM PDU\QDUFH Z\VRNR ZLG]LDáDP JáRZ VZRMHJR PQLHMV]HJR PáRGV]HJR EUDFLV]ND SOHF\ PDODá\ L ]QLNQ OL Z NXFKQL MD ]RVWDáDP VDPD Z W\P MDVQ\P SU]HGSRNRMX XFK\ORQ\P GU]ZLDPL SHá]á\ RG RNQD SURPLHQLH GX R ]áRWHJR NRIRUX EH] SOHFyZ EH] JáyZNL PRMHJR EUDWD  ]RVWDáDP VDPD ] NORFNLHP Z SUDZHM U FH &R PD GR WHJR ZV]\VWNLHJR RMFLHF" 2MFLHF E\ PL SRZLHG]LDá ]DZV]H FL PyZLáHP ZV]\VF\ P F]\ QL WR VNXUZ\V\Q\ 6SDü VSDü 1LH P\ OHü R W\P 1LH QLH FKF  HE\ WDN E\áR 'ODF]HJR PL WR D ELáH " 1LH ]DVáX \áDP QD WR = JRGQR FL  = JRGQR FL VRELH Z\REUD DP MDN SU]HVWDM ]DFKRZ\ZDü VL ] JRGQR FL  0yZL EU]\GNLH Z\UD]\ .OQ  .OQ QD F]\P ZLDW VWRL 3RGMH G DP SRG MHM GRP SRGNáDGDP JZR G]LH SRG ND GH NRáR SLHUGRORQHJR F]HUZRQHJR PHUFHGHVD QD V]WRUF SR GZD JZR G]LH  ] SU]RGX L ] W\áX ZV]\VWNR MHGQR F]\ UXV]\ QD ZVWHF]Q\P F]\ QLH  V]ODJ WUDILD ZV]\VWNLH  WDNLH IDMQH V]H FLRFDORZH JZR G]LH  -H]X MDNL FXGRZQ\ G ZL N  SXIII P MHVW ZVSyOQ\ WR L SRZLHWU]H MHVW ZVSyOQH D SRWHP DOER SU]HGWHP VWU]HODP Z SLHUZV]H RNQR GREU]H Z\ZD RQ\P NDPLHQLHP MHE  $ PL VL WZDU] UR]MD QLD  ]áR ü WDNLH VDPR GREUH XF]XFLH MDN ND GH LQQH 6]\END ] RUJDVW\F]Q\P G ZL NLHP NX ]LHPL EU]G N EU]G N :\ELHJD ]HVUDQD ]H VWUDFKX WDN VDPR MDN ZWHG\ NLHG\ SRGMHFKDáDP SRG MHM GRP  VWUDFK ]PLHQLD NRELHW EDUG]LHM QL SHUPDQHQWQ\ EUDN RUJD]PX 6]DUDZD WZDU] ] GX \P QRVHP OHNNR SRNU]\ZLRQH JUXEH NRODQD  R WDND WR QLH PXVL NXFDü GR VLNDQLD WDN QLVNR VNDQDOL]RZDQD  -H]X MDND UDGR ü WDN P\ OHü ZL F Z\ELHJD ] NXS PL G]\ QRJDPL  QR PR H SU]HVDG]DP" $OH SU]HFLH NLHG\ Z WZRLP WRZDU]\VWZLH VNDF] F DEN RGZUyFLáD VL UDGR QLH L ]DVNU]HF]DáD  2 MDN WDN VNDF]  WR SRSXV]F]DP  D W\ VL ]URELáH ]LHORQ\ QD WZDU]\  D MD QLF QLH ZLHG]LDáDP QLH ZLHG]LDáDP GODF]HJR %R H GODF]HJR WR PQLH VSRWNDáR ] WDN NRELHW " &R ]D IDVF\QXM FH XF]XFLH Z\REUD]Lü VRELH H SRSXV]F]D ]H VWUDFKX QD PyM ZLGRN $OH NRELHW\ WDNLH MDN MD QLH P\ O OH R LQQ\FK 3RQLHZD WHQ SLHUGRORQ\ ZLDW MHVW FXGRZQ\ SL NQ\ L GREU\ 7U]HED W\ONR XPLHü WR NXUZD ]DXZD Dü 7U]HED UyZQLH QLH ]QL Dü VL GR SHZQHJR SR]LRPX %R WR QLH Z\SDGD -HVWH OHSV]D QL LQQH 1LHVWHW\ EDUG]R PL WR GREU]H UREL 3U]\NUR PL WDWXVLX SU]\NUR PL PDPXVLX H RND]DáDP VL WDN G]LHZF]\QN EH =H PLHOL FLH LQQH Z\REUD HQLD QD PyM WHPDW 3U]\NUR PL NRFKDQLH H MHVWH LQQD QL MHVWH  3U]\NUR PL H ] SHáQ VDW\VIDNFM ZLG] MD REVUDQ  6SUDZLD PL WR QLH]Z\Ná SU]\MHPQR ü 1LH E G UH]\JQRZDü ] SU]\MHPQR FL -X VRELH Z\REUD DP MDN WD Z\PRF]NRZDWD JOXWRZDWD 0DU\OLQ LG]LH GR IXUWNL VNU]HF] F\ JáRV VNU]HF]\  D R FR FKRG]L D R FR FKRG]L , PLHUG]L DGUHQDOLQ  &XGRZQ\ ]DSDFK 0DP QDG]LHM  H WR MHM ]RVWDQLH QD ]DZV]H 3RSXV]F]DQLH L PLHUG]HQLH

&R MD UREL " %R H MD QLH FKF WDN URELü 7R QLH MD 1LH QDNU FDM VL  1LH ZDUWR 'OD NRJR" 7R FR" 2 %R H QLH FKF WDN P\ OHü QLH FKF WDN P\ OHü FKF P\ OHü R F]\P SU]\MHPQ\P GREU\P WDN QLH MHVW QD ZLHFLH 3R FR WR ZV]\VWNR" 1LH MHVW ZD QH WR FR VL G]LHMH GREUHJR $OH WR FR WHUD] SR]ZROL QDP Z]URVQ ü  PLáR ü Z\EDF]D $ WH QDV]H EU]R]\ , QDV]H SL üG]LHVL W V]H ü ODW" , H ZLHP\ FR MHVW QDMZD QLHMV]H" L H QDV WR QLH GRW\F]\ W\F]\ W\F]ND RG á\F]ND GR U]HP\F]ND W\F]ND D VN G EHOND UDF]HM .RODQD WHM JOXWRZDWHM 0RQURH V UR]áR \VWH L FL NDZH MDN EHOND .RVWNL ]UHV]W WH  2 WX PDP WH EOL]Q  $ W\ SRFDáRZDáH PQLH Z WR NRODQR SRWHP Z\V]HGáH ] ZDQQ\ ]DZV]H ]RVWDZLDV] PRNUH ODG\ QD NDIHONDFK FLHND ] FLHELH GX R ZL FHM ZRG\ QL ]H PQLH L PyZLáH  H PDP ZLHWQH NRODQD GUXJLFK WDNLFK QD ZLHFLH 7HUD] SyMG VSDü 1LH E G R QLF]\P P\ OHü 3RáR VL VSRNRMQLH SUDZD U ND UREL VL FL ND QDMSLHUZ QDELHUD FL NR FL GáR L ZV]\VWNLH SDOFH SRWHP SU]HGUDPL SUDZH OHZH FDáH PRMH FLDáR MHVW EDUG]R ]P F]RQH XNáDGD VL Z\JRGQLH MHVWHP EH]SLHF]QD L ]DVQ EH] ]áR FL L EyOX PyM XP\Vá QLH PXVL ]DMPRZDü VL QLF]\P FKFH Z\SRF] ü FKF VSDü W\ONR ]DG]ZRQL  JG]LH MD PLDáDP ]DG]ZRQLü" : JD]HFLH SRG SDF]N SDSLHURVyZ Ä'Rá F] GR OXG]L ZROQ\FK  'REUD WR ]DSDO VRELH 1LH PRJ VSDü 3U]\ UDGLX Z\VáXFKDáD ZDOFD SLHU FLRQHN REUDFDáD Z SDOFDFK L QDZHW PLDáD VL Z UR]PRZLH DOH JG\ Z]URN PyM FL ]DVNRF]\á FR FR F]\QL Z EyOX FKRU\ F]áRZLHN" &R R RFKU\Sá\P V]HSFLH L ZVSRPQLHQLDFK FR NRVWQLHM  $KD H OXG]LRP Z VHUFDFK ]JDVáR OHF] PyZL FLHSáR QDP L MDVQR L EDUG]R NáDPL  JG\ VL PLHM  :LHP MDN XáR \ü U\V\ WZDU]\ E\ VPXWNX QLNW QLH ]DXZD \á 1LH FKROHUD QLH ZLHP 'DOHNR VW G L GDZQR WHPX -X W\ONR SUDZG\ R PQLH V]XNDM 3DPL WDP NODPNL PUy] QD F]ROH : VHUFX ]DZ]L WR ü MDN PURZLVNR 7R 6]\PERUVND SRZLHG]LDáD GDZQR WHPX $ W\ SRZLHG]LDáH  H H WDPWR MHVW QLHZD QH =H WHUD] GRSLHUR ZLHV] FR WDN QDSUDZG F]XMHV] =H QLH FKFHV] HE\ P\ VL UR]VWDZDOL 7R QLH PD QLF GR U]HF]\  0XV] R VLHELH ]DGEDü -DN VL GED R VLHELH" 3RGV]HGáH GR PQLH L GRWNQ áH PRLFK ZáRVyZ %RODáR 3RZLHG]LDáH   :V]\VWNR E G]LH GREU]H NRFKDQD ]REDF]\V]  7DN SU]HVXQ áH PL U N SR JáRZLH 1LF PH UR]XPLHV] 1LH UR]XPLHV] H ND G\ GRW\N UDQL WDN EDUG]R H XPLHUDV] JRG]LQDPL FL JQL WD VNyUD MDN QLHSRWU]HEQ\ ZRUHN OH \ RERN D WZRMH OLVNLH RGNU\WH FLDáR QLH FKURQLRQH FLDáR NUZDZL L JG]LHNROZLHN VL UXV]DV] ]RVWDZLDV] NUZDZH ODG\" %RLV] VL SRáR \ü Z W\P VDP\P áy NX ER SU]H FLHUDGáR SDU]\ L L ND G\ GRW\N WDN EROL WDN EROL WDN EROL L F]XMHV] MDN NODWND Z NWyU ]RVWDáD ZHSFKQL WD PDOHMH MDN QLH E G]LHV] PRJáD RGG\FKDü ]D PRPHQW ]D FKZLO  ]D SDU GQL -DN PRJáH SRZLHG]LHü H RQD QLH PD ]QDF]HQLD" =H WDN QDSUDZG NRFKDV] W\ONR PQLH L MHGQRF]H QLH MDN PRJáH SLHSU]\ü VL ] QL UDQR D ]H PQ NRFKDü ZLHF]RUHP" 7R REU]\GOLZH 7R QLH WDN PLDáR E\ü %R RQD E\áD FK WQD %UUU 3RWHP MDN V VLDG Z\V]HGá NO F]DáH SU]\ PQLH NU]\F]DáH   3DWU] PL Z RF]\ -D QLH NáDPL a 7DPWR MHVW QLHZD QH WR W\ONR SLZR WR QLH PD ] QDPL DGQHJR ]ZL ]NX $VLH NR XZLHU] PL ]UHV]W MD MHM PyZLáHP H NRFKDP W\ONR FLHELH 2QD SR SURVWX MHVW QLHV]F] OLZD E\áD Z UR]V\SFH GR G]L VL QLH PR H SR]ELHUDü MHM P WH   $ JyZQR PQLH REFKRG]L MHM P 7R LG GR QLHM MDN WDND ELHGQD  3U]HFLH WDND IL]\F]QD ]GUDGD QLH PD DGQHJR ]QDF]HQLD 0R H WR SR WR HE\ P\ ]REDF]\OL FR MHVW QDSUDZG ZD QH 7DN PyZLV] WU]HED RFDOLü WR FR QDMZD QLHMV]H 'ODF]HJR FL VPXWQR ]REDF] PDP\ ZV]\VWNR F]HJR QDP WU]HED  E G]LHP\ UD]HP SDWU]Hü MDN URVQ  WDN EDUG]R FL NRFKDP

=QRZX $ NWyUHJR GQLD SRZLHG]LDáH  H MHG]LHV] GR EDQNX L ]DUD] ZUDFDV] ']LH E\á WDNL OLF]Q\ ]DF] áD VL ZLRVQD R G]LHZL WHM ]HUR WU]\ D UDQR Z\FKRG] F SU]\WXOLáH PQLH  MHV]F]H VSDáDP SRZLHG]LDáH ÄNRFKDP FL  ZLHP H FL NRFKDP  D SRWHP Z\ELáD GZXQDVWD L PL U FH ]DF] á\ R WDN 6SRWNDá VL ] QL ]QRZX" 1LH E G WHJR ZLHG]LHü PR H QLH D PR H WDN 7DN EDUG]R EROL H Z\GDMH PL VL  H QLH Z\WU]\ PDP QLHFK NWR PL SRPR H QLHFK PL NWR SRPR H GODF]HJR QLH PRJ MX Z QLF ZLHU]\ü &R PLDáDP ]URELü $ PLDáDP U]XFLü SDOHQLH 3UDZLH E\áDP JRWRZD 3U]HFLH Z WDNLP PRPHQFLH &KROHUQD ]DSDOQLF]ND E\á\ WX JG]LH ]DSDáNL Ä2GVáR SUDZG]LZ VLHELH 3DPL WDV] MDN ]DS\WDáH  F]\ WDN H UREL FL QD ]áR ü SDO F RVWDWQLHJR SDSLHURVD ZLHF]RUHP" $ MD VL ]G]LZLáDP  ]DZV]H SDO ZLHF]RUHP L UDQR L Z SRáXGQLH 7DN H" $ W\ H ]QDV] WDN  FR SDOLáD ZLHF]RUHP QD ]áR ü P RZL HE\ VL GR QLHM QLH ]EOL Dá .WR SDOLá ZLHF]RUHP HE\ VL P QLH ]EOL Dá" =DZV]H XPLDáDP VL UR]VWDZDü =DZV]H WR ]QDF]\ GZD UD]\ 1LV]F]\FLHOVNR QD ]DZV]H VSDOLü PRVW\  QLH PD SRZURWX :WHG\ PR QD ]DF] ü QD QRZR \ü , FR W\ PyZLáH " =H UR]VWDQLH RSDUWH QD ]áR FL QLH MHVW SUDZG]LZ\P UR]VWDQLHP =H E G]LH VL FL JQ áR SU]H] ODWD GRSyNL QLH ]REDF]  H WDN QDSUDZG LQDF]HM QLH XPLDáDP WHJR SU]\M ü 3DPL WDP MDN UR]VWDZDáDP VL ] 0 1LH FKF FLHELH QLH FKF FLHELH  NU]\F]DáDP  1LH GRW\NDM PQLH 1LH NRFKDP FLHELH ]GUDG]LáDP FLHELH .D G\ MHVW OHSV]\ QL W\  ]UDQLü VNáDPDü HE\ ]UDQLü ]UDQLü FRUD] EDUG]LHM FRUD] PRFQLHM HE\ XPDUá OHSV]D MHVW PLHUü QL UR]VWDQLH HE\ VL RGZUyFLá L SRV]HGá ] QLHQDZL FL Z VHUFX D ZWHG\ MDNR WR ]QLRV  H JR QLH PD $ SRWHP QLáR PL VL  H VWRLP\ UD]HP Z ZLQG]LH RQ FKFH Z\M ü RWZLHUDM VL GU]ZL QDG SU]\FLVNDPL QDSLV ÄOHJLD KXM  SU]H] VDPR K RF]\ZL FLH D MD NO NDP X MHJR VWyS L EáDJDP HE\ QLH RGFKRG]Lá HE\ PQLH QLH SRU]XFDá 2 -H]X REXG]LáDP VL F]HUZRQD ]H ZVW\GX H ZH QLH PL SU]\FKRG] QD P\ O WDNLH JáXSRW\ : \FLX -D" &]\ WHUD] E\P SRZLHG]LDáD  FKF FLHELH FKF HE\ PQLH NRFKDá ER NRFKDP FLHELH GRW\NDM PQLH QLH RSXV]F]DM PQLH MHVWH MHG\Q\ L QDMZD QLHMV]\" $ Z SRGUy SR OXEQ GR 7XQH]ML 3L NQ\ NUDM 3RGREQR %R XGDáR QDP VL ]H WU]\ UD]\ RSX FLü KRWHO  WR L WDN E\á VXNFHV 6WD RZHM LFKQLHM WDNLHM F]DUQHM UR]H PLDQHM G]LHZF]\QLH WáXPDF]\áH NLHG\ RVLHP UD]\ Z FL JX GQLD  ,Q DQ KRXU SOHDVH LQ DQ KRXU ']LHZF]\QD E\VWUD SR WU]HFK GQLDFK ZHV]áD Z XNáDG ] UHVWDXUDFM  MDN ]GDU]\áR QDP VL VFKRG]Lü QD NUHZHWNL NRFKDP NUHZHWNL WR G]ZRQLOL GR QLHM H SRNyM ZROQ\ HE\ PRJáD ZHM ü SRVSU] WDü :LHF]RUHP WR RZV]HP QD FKZLO Z\FKRG]LOL P\ 3RSDWU]Hü QD ZV]HFK ZLDW %\á WDNL NRP SOHWQ\ $ SDPL WDV] MDN Z\MHFKDOL P\ L E\áR GXV]QR L JRU FR E\áR Z W\P VDPRFKRG]LH D SU]HG QDPL W\VL F GZLH FLH NLORPHWUyZ L REF\ DUDEVNL NUDM L W\ONR FR SL ü NLORPHWUyZ ]DNU W Z OHZR SL ü NLORPHWUyZ ]DNU W Z SUDZR L ]QRZX SL ü NLORPHWUyZ ]DNU W L QLF SR]D W\P QLF W\ONR V]RVD GU DáD L SRGQRVLáD VL F]DVDPL SRQDG KRU\]RQW L UR]P\ZDáD L QDGHV]áD QDJOH L QLHVSRG]LHZDQLH QRF L MHFKDOL P\ W QRF  D QLHER E\áR FRUD] EOL HM L EOL HM ]JDVLáH ZLDWáD L ]URELáR VL XURF]\ FLH SXVW\QLD ZLVLDáD QDG QDPL L VWDSLDáD ] QLHEHP PRMD GáR QD GU NX ELHJyZ D WZRMD QD PRMHM  WDN MHFKDOL P\ WH W\VL F GZLH FLH NLORPHWUyZ L PLOF]HOL P\ ZWHG\ ER ZL WR NRáR QDV VL ]URELáR P\ P\ E\OL ZL WHP L PyZLáH  PyZ GR PQLH PyZ GR PQLH OXEL FL VáXFKDü D MD PyZLáDP JáXSVWZD D ND GH VáRZR VWDZDáR VL  ER E\áR GR FLHELH $ SRWHP PyZLáH  ]D QLM MHVWH ]P F]RQD ]EXG] FL SU]HG ZVFKRGHP VáR FD WR UD]HP E G]LHP\ SDWU]Hü SLM QLH EyM VL  DOH MD VL QLH EDáDP DO

PL E\áR VSDü NLHG\ E\áH EOLVNR L NLHG\ QDZHW QLF W\ONR WZRMD U ND QD PRMHM L ND GD NRPyUND PRMHJR FLDáD Vá\V]DáD FLHELH ZLG]LDáD FLHELH F]XáD FLHELH L WR V]áR RG GáRQL SU]H] áRNLHü GR UDPLHQLD L WDP UR]OHZDáR VL GR GUXJLHM U NL EU]XFKD L QyJ L PL NáR SRG NRODQDPL L PyZLáH  SLM  D MD F]XáDP ZLOJRü QD XGDFK WZyM JáRV ]DZV]H PL WDN URELá QDZHW MDN G]ZRQLáH ] +DPEXUJD L VLHG]LDáDP ZWáRF]RQD Z N W SRNRMX HE\ PLHü QD ZáDVQR ü VáXFKDZN ] WZRLP JáRVHP L HE\ QDZHW SU]\SDGNLHP QLNW MHM QLH ]DXZD \á ER E\áD PRM ZL WR FL L WH ZWHG\ ZVWDZDáDP L PRNUR PL G]\ QRJDPL  L MDN GUXJL UD] ]DG]ZRQLáH  HE\ PL SRZLHG]LHü H WR E\áD QDMGUR V]D QDV]D UR]PRZD ER Z PL G]\F]DVLH SROLFMD ]DEUDáD WZyM VDPRFKyG QD VSHFMDOQ\ SDUNLQJ L HE\ PL SRZLHG]LHü H WR E\áR ZDUWH XVá\V]HQLD PRMHJR JáRVX  WR WH  L SU]HG ZLWHP PXVLDáDP QLHFKF F\ ]DVQ ü ER REXG]LáDP VL ] WZRLPL XVWDPL QD SROLF]NX QLHER ]DMD QLDáR VDPRFKyG VWDá QD XUZLVNX Z GROH 0RU]H UyG]LHPQH L V]HSQ áH SDWU] QDV]H VáR FH  L GRWNQ áH PRMHJR XGD D MD SU]HFLH RG ]DZV]H E\áDP JRWRZD QD FLHELH L ZV]HGáH ZH PQLH L QDW\FKPLDVW VWDZDáDP VL  L XGD ]DF]\QDá\ GU Hü L F]XáDP ZáDVQH QDSU RQH PL QLH NWyUH RSODWDM PQLH GRRNRáD Z\ HM ELRGHU WDN MH F]XáDP MDNE\ REFH E\á\ MDNE\P V]QXUDPL E\áD ]ZL ]DQD D ]D FKZLO UR]FLQDáH WH V]QXU\ QD GUREQH NDZDáHF]NL L ND G\ ] QLFK VPDJDá PQLH FHQW\PHWU SR FHQW\PHWU]H D GRFKRG]Lá GR URGND L WDP S NDá Z ]Há D VáR FH ZVFKRG]LáR QDG WZRLP UDPLHQLHP SRPDUD F]RZH RG UD]X ]áRFLVWH EH]FKPXUQH ]áRWR QD QLHELHVNLP L ]áRWHP VL UR]V\S\ZDáH ZH PQLH D MD M F]DáDP ] W VNQRW\ SRG WRE  ] WRE Z DEVROXWQHM MHGQR FL L SDWU]\áH PL Z RF]\ ZWHG\  SDWU] QD PQLH PyZLáH  PRMD NRFKDQD SDWU] FKF ZLG]LHü WZRMH RF]\ MHVWH PRMD L MD MHVWHP WZyM PyZLáH  WDN GáXJR F]HNDáHP QD FLHELH PyZLáH  D MD GU DáDP FRUD] PRFQLHM L ND GH WZRMH VáRZR GRSHáQLDáR ]áRWR ZH PQLH  D SRWHP FDáRZDáH PQLH L ]QRZX V]QXU\ QDSLQDá\ VL L PRMD VNyUD Z\FKRG]LáD QD VSRWNDQLH WZRLFK GáRQL D VáR FH E\áR FRUD] Z\ HM :VFKRG\ VáR FD WR E\áD QDV]D SLHF] ü L WDMHPQLFD L SU]\VL JD L H WDN MX ]DZV]H QD ]DZV]H RG ]DZV]H $ MHV]F]H GX R SU]HGWHP W\ ] QLH]DFKZLDQ SHZQR FL   :LHP H E G]LHV] PRMD PyZLáH  ZLHP H F]HNDV] HE\P FL FDáRZDá WDN MDN QLNW QLJG\ FL QLH FDáRZDá L NRFKDá VL ] WRE  WDN MDN QLJG\ QLH E\áD NRFKDQD RSRZLHP FL FR ] WRE ]UREL  PyZLáH  D MD PXVLDáDP VáXFKDü SROLF]NL PQLH SDOLá\ QLNW WDN GR PQLH QLJG\ QLH PyZLá DQL Z NVL FH QLH F]\WDáDP DQL QDZHW QD ILOPLH QLH L VáXFKDáDP MDN PyZLV] R QDV]\P SU]\V]á\P NRFKDQLX L GRWNQ áH PQLH SR UD] SLHUZV]\ GRWNQ áH PRMHJR UDPLHQLD ZVND]XM F\P SDOFHP Z\SDOLáH ]QDN" SL WQR" V]NDUáDWQ OLWHU " RSLHF] WRZDáH PQLH W\P SDOFHP L RQ ZV]HGá GR URGND SU]H] PRMH UDPL  L GRWNQ á PRLFK NR FL ER PRMH FLDáR UR]VW SLáR VL SR UD] SLHUZV]\ ZWHG\ SRG WZRLP GRW\NLHP L P\ ODáDP R W\P W\ONR H FKF E\ü WDN GRW\NDQD D SRWHP PRJ XPU]Hü QDZHW DOH QLH SU]HGWHP QLH WHUD] QLH ]DQLP 3DWU] WHUD] Z OXVWUR DOH QLH PD ODGX MX  3LHUZV]\ UD] VL NRFKDOL P\ $ JUDOL P\ SU]HGWHP Z WHQLVD XGDZDáH  H PRMH ORE\ V ]QDNRPLWH L VSHFMDOQLH WR UREL  D NLHG\ XGDáR PL VL ]DVPHF]RZDü QLHFKF F\ Z GUXJL NRQLHF NRUWX L QLH PLDáH V]DQV GRELHF  WR X PLHFKDá\ FL VL RF]\ ] ]DGRZROHQLD H PL VL XGDáR -DN ZUDFDOL P\ ] WHQLVD WR ZWHG\ SLHUZV]\ UD] -X Z\VLDGDáDP ] VDPRFKRGX D E\áDP Z F]HUZRQ\FK VNDUSHWNDFK  NWR JUD Z WHQLVD Z F]HUZRQ\FK VNDUSHWNDFK"  L Z\MPRZDáH PRM WRUE  L Z\FL JQ áDP U N  D W\ SRZLHG]LDáH   1LH , MD WH ]UR]XPLDáDP H PyZLV] ÄQLH QDV]HPX UR]VWDQLX L SRZLHG]LDáDP ÄGREU]H L ZVLHGOL P\ ] SRZURWHP GR VDPRFKRGX L SRMHFKDOL P\ GR WZRMHJR GRPX E\á SXVW\ L NXU] QD VWROH QDZHW L QLF QLH

PyZLOL P\ L RWZRU]\áH GU]ZL L MD ZHV]áDP L ]DPNQ áH ]D QDPL GU]ZL L SR UD] SLHUZV]\ SRF]XáDP MDN PR H VWUDV]QLH VL ]PLHQLü FLDáR P F]\]Q\ RG PRMHM EOLVNR FL 7ZRMH XGD GRW\NDá\ PRLFK D EU]XFK MDN VNDáD L QRJL VWDá\ PRFQR QD ]LHPL E\áH RSRN  HOD]HP WUZDáR FL L SHZQR FL  L GHOLNDWQLH Z]L áH PRM WZDU] Z VZRMH PRFQH GáRQLH L SRZLHG]LDáH   .RFKDP FL  $ SR PRLFK XGDFK VSá\ZDáD QLWHF]NDPL RELHWQLFD UR]NRV]\ L PLDáDP F]HUZRQH JUXEH VNDUSHW\ L LFK QLH ]GM áDP D PXVLDáDP L ü SRG SU\V]QLF L GR GRPX L W\ WH QLH ]GM áH VZRLFK ELDá\FK L SRWHP QDSLVDáH GR PQLH ] $XVWULL 8ZLHOELDP QDV] NUDM ]D EDUZ\ QD IODG]H L 0RQDNR ]D WR VDPR L W\ONR QLH ZLHP NWyU\ EDUG]LHM ER 0RQDNR PD F]HUZLH QD JyU]H MHVWH PRM 3ROVN L PRLP 0RQDNR MX QD ]DZV]H SDPL WDM , SDPL WDáDP 3RFL J SRFL J SDPL WDP =H RMFLHF Z\FKRG]L HE\ NXSLü FR GR SLFLD FK\ED MHVWHP PDáD ER VWRM QD JU]HMQLNX WU]\PDP VL XFK\ORQHJR RNQD GZRU]HF GX \  :URFáDZ DOER FR  RGF]HSLDOL ORNRPRW\Z  HE\ M SU]\F]HSLü ] GUXJLHM VWURQ\ PLHOL P\ PR H ] SL WQD FLH PLQXW SRVWRMX RMFLHF SRZLHG]LDá H LG]LH D MD ]DPDUáDP SU]\ WHM V]\ELH 1D SHURQLH E\áD WDND PDáD IRQWDQLHQND QDG NWyU QDFK\ODOL VL OXG]LH L SLOL ZRG  'X R VSLHV]  F\FK VL OXG]L L SRFL J V]DUSQ á  P\ ODáDP H MX UXV]DP\ D RMFD QLH E\áR ]GU WZLDáDP ] SU]HUD HQLD H MX JR QLJG\ QLH ]REDF]  DOH WR W\ONR GRF]HSLDOL W ORNRPRW\Z  L D PQLH WHUD] FLDUNL SU]HFKRG] QD ZVSRPQLHQLH WHJR VWUDFKX 7R QLH PD QLF GR U]HF]\ $ W\ PyZLV]  ]DSRPQLM R W\P WDPWR QLHZD QH WDNLH U]HF]\ VL ]GDU]DM  3LZR 1LH NRPSOLNXM 6á\V]DáDP WR MX  1R LQQ\P VL ]GDU]DM  DOH QLH QDP &]\OL PR QD" 7DNL V\QGURP HVSHND" :\P\ OLá\ P\ WHQ QRZ\ SV\FKRORJLF]Q\ WHUPLQ UD]HP ] (Z  GDZQR GDZQR WHPX  MDG F GR 0XV]\Q\ 3RFL J RVRERZ\  V]HVQD FLH JRG]LQ Z RNQLH ZDJRQX  WáRN WUXGQ\ GR Z\REUD HQLD -XUHN NROHJD ] .UDNRZD PDFKQ á QDP SU]H] WáXP  GDZDMFLH EDJD H WU]\PDP PLHMVFD 3RFL J RGFKRG]Lá ] *áyZQHJR  NWyU\ MX ZWHG\ GRJRU\ZDá DOH MHV]F]H GDZDOL SLZR NDUPHONRZH ] EHF]HN S\V]QH VáRG]LXWNLH NXIHOHN NRV]WRZDá SL ü ]áRW\FK : SU]HG]LDOH RSUyF] QDV V]H FLX 5RVMDQ MHGQD 5RVMDQND L P\ ZH WUyMN  .RáR 5DGRPLD -XUHN MX E\á PRFQR ]DDQJD RZDQ\ ] 5RVMDQN  PL G]\ 5DGRPLHP D .LHOFDPL ]D V]áR VáR FH XZLHOELDP ]DFKRG\ VáR FD Z SRFL JX V WDNLH EDUG]LHM QDPDFDOQH \ZH P\ ] (Z QD NRU\WDU]X QRV\ UR]SáDV]F]RQH QD V]\EDFK SDWU]\á\ P\ MDN RQR RGMH G D MDN QLHER QLHELH FLHMH SR WHP V]DU]HMH JG]LHQLHJG]LH Z\FKRG] ]LHORQH VPXJL QDMSLHUZ ]áRWR SRWHP SRPDUD F] SRWHP DJUHV\ZQD F]HUZLH  JUDQDW QD ]DNU WDFK LVNU\ SDURZR]X  ]DGR üXF]\QLHQLH ]D RGFKRG] FH ZLDWáR 6WXNRW SRFL JX PLDURZLDá XVHQQLDá UR]PRZ\ FLFKá\ ZUDFDá\ P\ ] (Z GR QDV]HJR SU]HG]LDáX FDáH Z SU]H ZLDGF]HQLX H RWR GRWNQ á\ P\ ZLHF]QHM 7DMHPQLF\ 1LH]QDQHJR PR H %RJD  D Z SU]HG]LDOH  QR ZáD QLH WDNL HVSHND 5RVMDQLH FKUUUU ZLV]F] FH RGGHFK\ QRJL QD VLHG]HQLDFK ZR VNDUSHW 7ZDU]\ -XUND L WHM 5RVMDQNL DQL ODGX .XUWND NWyU E\OL SU]\NU\FL ]DF] áD IDORZDü D (ZD ZELMD PL áRNLHü SRG HEUR  3DWU] FR RQL UREL : JDVQ F\P SyáPURNX ZLG]LDáDP S F]QLHM FH G LQV\ WHM G]LHZF]\Q\ UR]FK\OLáD QRJL D U ND -XUND ZVXZDáD VL Z MHM VSRGQLH &]\ WDN VL URG]L PLáR ü" 6WR LOH NLORPHWUyZ WHPX MHV]F]H VL QLH ]QDOL" =DIDVF\QRZDQD OHG] MHJR GáRQLH NXUWND Z\EU]XV]D VL QD Z\VRNR FL MHM SLHUVL OHNNLH U] HQLH SL F\FK L QRZ\ G ZL N QLH XPLHP JR QD]ZDü QRZ\ LQQ\  $OH G]LZND  Z\V]HSWDáD ] QLHNáDPDQ\P SRG]LZHP (ZND 5RVMDQLH Z\VLDGDOL Z .UDNRZLH -XUHN SRGDZDá EDJD H SU]H] RNQR G]LHZF]\QD SRGDáD PX U N  SRZLHG]LDá FR SR URV\MVNX RQD ]DZLVáD QD V]\ELH  -XUHN SRGFL JQ á M ]D U FH SRFDáRZDá M Z XVWD L RSX FLá SRFL J UXV]\á VWDá Z RNQLH L PDFKDá D MD ]DS\WDáDP

 1R L FR 5RPHR E G]LHV] PLDá VZRM -XOL Z 5RVML QLH OH VL VNáDGD" 6SRMU]Dá QD PQLH MDN QD LGLRWN L SRZLHG]LDá  =ZDULRZDáD  PLáD SRGUy  PLáD G]LHZF]\QD SU]HFLH VRELH QLH E G]LHP\ SVXOL PLá\FK FKZLO GDOV] ]QDMRPR FL  1LH PD FR NRPSOLNRZDü :WHG\ ZáD QLH QD NRU\WDU]X XNXá\ P\ WHUPLQ ÄV\QGURP SU]HG]LDáX NROHMRZHJR  (VSHND 1R ZáD QLH 1LH PD FR NRPSOLNRZDü $ F]\ MD NRPSOLNXM " -HVW QRF L NDOHNLH GU]HZD VWRM Z RNQLH L ]DP\NDP RF]\ MHVW MHV]F]H JRU]HM QLH PD QLNRJR WZyM RGGHFK VSRNRMQ\ L PLDURZ\ QLH PD SU]\ PQLH QLNRJR %R H &LHPQD XOLFD R ZLHWORQD ] U]DGND ODWDUQLDPL JD]RZ\PL Z VND Z\EUXNRZDQD NRFLPL áEDPL FLHPQH QLVNLH RNLHQND WX SU]\ ]LHPL SU]HG GRPDPL QD áDZHF]NDFK VWDUF\ 3RPDUV]F]HQL PDOL ]JDUELHQL WDN SRNXUF]HQL H LFK EURG\ GRW\NDM EU]XFKyZ ] Z\VXV]RQ\PL \ODVW\PL WZDU]DPL L U NDPL Já ERNR ZSDGQL WH Z\EODNáH RF]\ URGNLHP XOLF\ MDNE\ WR QLH E\áD QRF SU]HFKDG]DM VL PáRGH G]LHZF]\Q\ :V]\VWNLH PDM RGVáR QL WH VU\MH  ZáRV\ Z\VRNR XSL WH Z NR VNLH RJRQ\ &R LP VL PR H VWDü FR ]áHJR SDWU] QD QLH L ZLHP H V R NURN RG RG F]HJR  FR PD ]ZL ]HN ] LFK ZáRVDPL L RGVáRQL W\PL V]\MDPL MD PDP NUyWV]H ZáRV\ RSDGDM QD NDUN DOH MHV]F]H QLH PRJ LFK ]ZL ]Dü Z SRU] GQ\ NR VNL RJRQ 'ODWHJR MHVWHP EH]SLHF]QD $OH XOLF]ND UREL VL FRUD] EDUG]LHM VWURPD ] JyU\ ]QLN G VFKRG]L PJáD ZV]\VWNR MHVW QL OHNNR VSRZLWH G]LHZF]\Q\ L VWDUF\ &KF MH SU]HVWU]HF SU]HG F]\P  FR QDGFKRG]L DOH QLH PRJ Z\GRE\ü JáRVX 3U]HFKDG]DM VL WHUD] GX R ZROQLHM QD V]\L ND GHM ] QLFK Z\NZLWD SyáSU]H]URF]\VW\ ]ZL NV]DM F\ VL EDORQLN 3RUXV]DM VL ] FRUD] ZL NV]\P WUXGHP PLMDP MH D RQH ]DF]\QDM XSDGDü %DORQLNL ]ZL NV]DM VL  SU]H] SHUJDPLQRZ ELHO ZLGDü PDOH NLH DOH URVQ FH SáRG\ ']LHZF]\Q\ EOHGQ FRUD] EDUG]LHM Z W\P VDP\P PRPHQFLH VWDUXV]NRZLH QD áDZHF]NDFK SURVWXM VL  LFK SU]H]URF]\VWH WZDU]H QDELHUDM UXPLH FyZ RF]\ Z\FKRG] ] Já EL F]DV]NL L MX V SRG SRZLHNDPL GR U N QDSá\ZD NUHZ L Z\PL WH \á\ QDEU]PLHZDM  SU QLHM  D RQL SRZROL VL SRGQRV]  1D NRFLFK áEDFK MHVW FRUD] ZL FHM G]LHZF]\Q DOH SU]HFLH MD MHVWHP EH]SLHF]QD PDP V]\M ]DVáRQL W ZáRVDPL àDZHF]NL SXVWRV]HM  VWDUXWF\ OXG]LH MDN V]WXF]QH ODOH SU]HFKDG]DM VL PL G]\ WUXSDPL G]LHZF] W %XG] VL ]ODQD SRWHP %XG] FLHELH  7DNL PLDáDP VWUDV]Q\ VHQ  GU  QDMJRUV]H H ZLHG]LDáDP H G]LHMH VL FR VWUDV]QHJR D E\áDP EH]SLHF]QD  SRGXV]ND MHVW PL NND ]DVáRQ\ Z RNQDFK ]DFL JQL WH QLH SU]HSXV]F]DM QLF  %H]SLHF]QD"  PyZLV] DOH WR QLH MHVW XVSRNDMDM F\ WRQ WR MHVW REF\ JáRV L GUZL FH S\WDQLH L PLHFK RNURSQ\ V]DORQ\ PLHFK  ]REDF] VDPD FR WDP PDV]  RGVXZDP VL RG FLHELH SU]HVXZDP U N SR V]\L Z\F]XZDP FR J EF]DVWHJR FR  FR V]\ENR UR QLH FR  F]HJR QLH PRJ MX RGHUZDü RG VNyU\ D W\ PLHMHV] VL FRUD] EDUG]LHM L EDUG]LHM , ]QRZX OH Z FLHPQR FLDFK QLH PRJ QDZHW VSUDZG]Lü F]\ PRMD V]\MD JáDGND PR H MX QDSUDZG VL REXG]LáDP PR H MX WR REXG]HQLH PL VL QLH QL DOH OH L OH  L ZVWDM UDQR QLH PD MHV]F]H V]yVWHM VLHG] SU]\ SXVW\P VWROH D Vá\V] V]XP ZRG\ Z áD]LHQFH ZVWDáH  L ]DF]\QDP URELü QLDGDQLH 1LJG\ MX QLH E G]LH WDN MDN NLHG\  1LH E G R W\P P\ OHü QLDGDQLH QD VWROH L VHU ELDá\ L PDVáR L G HP L VHU WDNL ]LHORQ\ JQLOQ\ MDN OXELV] , UREL KHUEDW GOD VLHELH L MX QLH PyZLV] ÄGODF]HJR WDND PRFQD  L NDZ QLRV  GOD FLHELH W NDZ  D W\ MX Z GU]ZLDFK  JRWyZ GR Z\M FLD 7DN ZF]H QLH" $ ]D V]\E WUDZD SU]\GXV]RQD SR ]LPLH ]PL WD L EUXGQDZD  1LH QDSLMHV] VL QDZHW NDZ\"  3\WDP L QLH FKF  HE\ WR EU]PLDáR DáR QLH DOH WR WDN EU]PL ER ]GHMPXMHV] VZyMPyM XOXELRQ\ GáXJL SáDV]F] L RGNáDGDV] QD NU]HVáR  6NRUR ]URELáD   0yZLV] L V]\ENR VL SRSUDZLDV]  = SU]\MHPQR FL 

$OH QLH MHV] SLMHV] JRU F NDZ V]\ENR SDWU]\V] QD PQLH L VL VSLHV]\V] L ZLG] WR L VWDUDV] VL  HE\P QLH ZLG]LDáD H VL VSLHV]\V] DOH MD ZLG]  VPDUXM FKOHE RGNáDGDP NURPN   1LH MHV]"  3U]HJU\]áHP FR ZF]H QLHM  PyZLV]  GREUD NDZD  PyZLV]  ZUyF SU]HG WU]HFL  PyZLV]  QD SHZQR  PyZLV]  NXSLü FR  PyZLV]  PXV] MX L ü  PyZLV]  SRZLQLHQHP MHV]F]H ]DWDQNRZDü  PyZLV]  G]L NXM  PyZLV] , FDáXMHV] PQLH Z SROLF]HN =RVWDM VDPD QDG SRVPDURZDQ NURPN L ELDá\ VHU QD VWROH L KHUEDWD PRMD MHV]F]H JRU FD L Vá\V] V]XP VLOQLND L WU]DVND EUDPD L RGMH G DV] :LG] MDN MHG]LHV] D WZRMD U ND QD ELHJDFK JRá\FK EH] PRMHM GáRQL L Z SUDZR L SURVWR L VWDFMD EHQ]\QRZD L VNU FDV] L VWRS L EHQ]\QD L SáDFLV] D ]D FKZLO MHM XOLFD  L MHG\QND L GZyMND L MX VHWND QD OLF]QLNX PLMDV] MHM XOLF SR GURG]H =ZDOQLDV]" , PLJDF] SUDZ\ PLJDF] 3R GURG]H 1LNW VL QLH GRZLH MD QLH E G ZLHG]LDáD &KRFLD RQD QLHZD QD MDN SLZR D W\ Z WDMHPQLF\ SU]HG MHM GRP &]\ WDN WR Z\JO GD" 'ODWHJR WDN ZF]H QLH" 'ODWHJR NDZD QLH GRSLWD" 'ODWHJR QLDGDQLH SU]HGH PQ L QLNRJR L SXVW\ SR]LPRZ\ RJUyG ]D RNQHP QLDGDQLH SU]HGH PQ L QLNRJR , ODWR Z SHáQL , 8OD VWDMH Z GU]ZLDFK ] NXENLHP NDZ\ UR]SXV]F]DOQHM L POHF]ND L MD VL V]\ENR SRGU\ZDP NURLP\ FKOHE ]MHP\ QLDGDQLH ER Z\MHFKDáH L MHM P Z\MHFKDá L WDNLFK WU]HFK MDN QDV GZLH WR QLH PD DQL MHGQHM L ]D FKZLO VLHG]LP\ SU]\ VWROH $ WUDZD WDND ]LHORQD SRGFKRG]L SRG GU]ZL VDPH L NZLWQ GDOLH  PRMH SUDZLH ILROHWRZH L GDOHM ]D VLDWN MHM EODGRUy RZH SL NQH L RV\ SUyEXM QDP WRZDU]\V]\ü ZL F G HP VWDZLDP QD RNQLH L WDN GREU]H MDNR  WDN QD PLHMVFX ZV]\VWNR , SU]\QRV] SU]\SUDZ GR LQG\NyZ L PyZL   1DV\S QD ELDá\ VHU WR ZVSDQLDá\ VPDN NLHG\   L SU]HV]áR ü VWDMH ELDá\P VHUHP  NLHG\ WR FRG]LHQQLH URELáDP QD QLDGDQLH PLV]PDV]H  $ FR WR"  3\WD 8OD L VPDUXMH FKOHE  7DNLH VHUNL ]H ZV]\VWNLP QR QD SU]\NáDG ] U\EN DOER SDSU\N  DOER  $FK MD WH  :RáD 8OD , MHP\ WH NDQDSNL ] VHUHP ELDá\P L SU]\SUDZ GR LQG\ND  $OER QD SU]\NáDG ZU]XFDáDP GR WDNLHJR WZDUR NX WDNLH ]LHORQH ]LRáR  UR]PDU]DP VL  .RORURZH JUDQXONL QD ELDá\P VHU]H &HOHEUXMHP\ QLDGDQLH  -DNLH ]LRáR"  8OD NURL Z SODVWHUNL OLZN L QDNáDGD QD ELDá\ VHU  7DNLH FR UR QLH  PyZL L ]DJU\]DP  $FK PDMHUDQHN  ZRáD 8OD , GDOHM MHP\ VHUHN ELDá\ D 8OD MHV]F]H NURL ZLQRJURQD QD WHQ VHU ] SU]\SUDZ GR LQG\ND D SRWHP ]DWU]\PXMH NDQDSN Z GURG]H GR XVW L RGNáDGD L PyZL  7\ FR W\" .D GH ]LRáR UR QLH =LRáD V URVQ FH  $KD  SU]\WDNXM  URVQ FH L ZLV] FH  1R  PyZL 8OD  DOH ZLV] FH V ZVNXWHN 'DOHM MHP\ NDQDSNL 6áR FH 7UDZD .RW 3V\ ']ZRQHN .RJR QLHVLH R WHM SRU]H QDP WX" $ WR SU]HG IXUWN SDQ 6DPRFKyG ] QDSLVHP Ä,QWHUIORUD  'ZDQD FLH Uy WHQ SDQ PD 6WRL SU]HG IXUWN ] GZXQDVWRPD Uy DPL L Uy H SDFKQ  L ]QRZX ELF] SRG NRODQDPL  MDN H PRJáDP QLH SDPL WDü H G]L GZXQDVW\ L ZV]\VWNR MHGQR JG]LH MHVWH  ]DZV]H GZXQDVWHJR GZDQD FLH Uy  7HQ WHQLV WR GZXQDVW\ L PRMH F]HUZRQH VNDUSHW\ L WZRMH ELDáH $ 8OD ND SDWU]\ L PyZL

 .ZLDW\ G]LHO VL QD URVQ FH L ] PLáR FL = PLáR FL V ZVNXWHN $ SLHUZV]\ UD] GRVWDáDP WH Uy H WDNLH Uy H %\áR WDN VWUDV]QLH JRU FR DOH SU]H FLHUDGáR PX VLDáDP PLHü RERN ]ZLQL WH D W\ QD PRLFK SOHFDFK JRU F\ DOH QLH V]NRG]L WDN PD E\ü $ MDN PL ]D EUDNáR FLHELH WR REXG]LáDP VL L QLH RWZLHUDM F RF]X ]DZRáDáDP WZRLP LPLHQLHP L FKáyG WDNL VL ]URELá QD PRLFK SLHUVLDFK L WZRMH XVWD QD PQLH QD XG]LH L RWZRU]\áDP RF]\ L SDWU]\á\ QD PQLH Uy H ] PLáR FL 7U]\PDáH MH FDá QRF Z ORGyZFH HE\ QLH ]ZL Gá\ L HE\P LFK ZF]H QLHM QLH ]QDOD]áD :\FL JQ áDP SR FLHELH U FH D W\ SU]HVXZDáH XVWD FRUD] Z\ HM L ZWXOLáH JáRZ Z PRMH SLHUVL D Uy H RERN L MD S\WDP  'ODF]HJR" $ W\ PyZLV]  1LH SDPL WDV] SU]HFLH G]LVLDM GZXQDVW\  'ZXQDVW\" -DN WR"  'ZXQDVWHJR PLDáD QD VRELH F]HUZRQH VNDUSHW\ 1LH SDPL WDV]  $OH ]DZyG Z WZRLP JáRVLH WR ]D FKZLO UDGR ü  % G FL ]DZV]H WDN SU]\SRPLQDá ,OH GRVWDáDP W\FK Uy " &R PLHVL F GZDQD FLH SU]H] LOH ODW" 7U]\ SL ü" 3L üVHW" 2VLHPVHW" 6WR F]WHUG]LH FL F]WHU\ FR URNX GZDQD FLH WX]LQyZ URF]QLH" ,OH LFK GRVWDáDP ]DQLP SHZQHJR GQLD LFK QLH GRVWDáDP" .LHG\ QLH GRVWDáDP LFK SLHUZV]\ UD]" 'ODF]HJR QLH SDPL WDP" &]\ WDPWHM WH NXSLáH NZLDW\" &]\ WDPWHM WH NXSRZDáH NZLDW\" *G]LH MHVWH " *G]LH SRMHFKDáH WDN V]\ENR" 7DN UDQR" 0R H MDN ]Z\NOH DOH QLH SDPL WDP PR H VL ]DZV]H VSLHV]\áH  DOH ZLHG]LDáDP ZWHG\ H GR SUDF\ H QD VSRWNDQLH ZD QH H JG]LHNROZLHN H QLF SU]HFLZNR PQLH , :FKRG]LV] GR MHM GRPX" :FKRG]LáH GR MHM GRPX , PyZLV] H WDPWR QLHZD QH DOH ZLG] WHQ PLJDF] SUDZ\ PLJDF] $ MH OL VSRWNDV] M SU]\SDGNLHP" 3U]\SDGNLHP" $ SU]HGH PQ WZyM XOXELRQ\ URNSRO SOH QLHM F\ ]LHORQNDZ\ L FLDQD ELDáD 0yZLáDP HE\ ]DJLSVRZDü WH G]LXUNL 3ODPNL PD FLDQD *U]\E" 0\NRWRNV\Q\ NWyUH SRZVWDM Z SURFHVLH SU]HPLDQ\ PDWHULL JU]\ED WR MHGQD ] QDMVLOQLHMV]\FK WUXFL]Q SRFKRG]HQLD UR OLQQHJR 3OH QLRZH WUXM SRZROL DOH VNXWHF]QLH $VSHUJLOOX F]\OL NURSLGODN MHVW ]LHORQNDZ\ 1LH WR ZLDWáR WDN SDGD %á NLWQR]LHORQ\ MHVW S G]ODN  SHQLFLOOLXP 7U]HED VSU] WDü SR QLDGDQLX 2EHMPXMHV] PQLH NWyUHM QRF\ L SU]\WXODV] 0yZLV]  MHVWH WDND ]QDMRPD WDND VZRMD WDND PRMD .D GD NRPyUND PRMHJR FLDáD NU]\F]\  MHVWHP GOD FLHELH $ QLH PRJ QDZHW SáDNDü 1LH ZLHP QLH ZLHP FR SRZLQQDP ]URELü QLH ZLHP JG]LH VL NR F] MD D ]DF]\QDV] W\ 1LH PRJ VL MX EH]SLHF]QLH SU]\WXOLü ER PR H P\ OLV] R WDPWHM PR H VRELH Z\REUD DV] H WR ] WDPW  PR H FDá\ F]DV NáDPLHV] D MD L WDN QLH ZLHP R W\P , QLH E G ZLHG]LDáD , WDN SU]H] QDVW SQH SL üG]LHVL W V]H ü ODW" -HV]F]H NRW /H \ L OL H /L H L OH \ )UXZDM NáDNL 5R]NáDGD W\OQH QRJL ]DU]XFD MH VRELH ]D JáRZ  ZFKRG]LV] GR SRNRMX SRGQRVL JáRZ  E\VWUR ZLHF RNU JáH yáWDZH RF]\ áDS\ UR]áR RQH áDS\ DQL GUJQ  7U]HED VL ]DM ü W\P FR MHVW Z WHM FKZLOL 1RUPDOQ\P \FLHP $OH MX SRZLQLHQH E\ü ']ZRQLáH SU]HG Z\M FLHP ] SUDF\ H MX MHG]LHV] 2SRZLDGDV] VL ] ND GHJR NURNX 'ODF]HJR" 1LH FKFHV] HE\P SRGHMU]HZDáD =H MHVWH JG]LH LQG]LHM =H VSRW\NDV] VL ] QL  =H G]ZRQLV] GR QLHM %R MHM P Z\MHFKDá HE\P QLH ZLHG]LDáD HE\P F]XáD VL EH]SLHF]QD ']ZRQLáH MX GDZQR WHPX

: W\P F]DVLH PRJáH ]URELü F]WHUG]LH FL NLORPHWUyZ MDG F ] SU GNR FL V]H üG]LHVL FLX NLORPHWUyZ QD JRG]LQ  0RJáH WX GRMHFKDü L ZUyFLü ] SRZURWHP GR SUDF\ Z W\P F]DVLH ] W SU GNR FL  $ MH G]LV] GX R GX R V]\EFLHM -H OL E\áH Z SUDF\ -H OL G]ZRQLáH ] SUDF\ $OH RF]\ZL FLH PRJáR FL FR QDZDOLü Z VDPRFKRG]LH .RáR $OER PRJ E\ü NRUNL $OER Z\SDGHN QD GURG]H :WHG\ SU]HZ HQLH WDNLH SHáQR SROLFML , QDJLH QRJL VSRG F]DUQHJR ZRUND RERN QD MH]GQL %H] EXWyZ %XW\ VSDGDM  MDN F]áRZLHND ]DELMD VDPRFKyG 1LH ZLDGRPR GODF]HJR , ZWHG\ PLHU] L REOLF]DM  5XFK QD WHM VWURQLH V]RV\ ]DPNQL W\ :V]\VF\ PXV] F]HNDü , SROLFMDQW NLHUXMH UXFKHP , ZWHG\ RSy QLHQLH &RNROZLHN :V]\VWNR 7\N W\N W\N W\N W\N W\N W\N W\N W\N W\N .LHG\ QLH ZUyFLá QD QRF NRW" .LHG\ QLH ZUyFLá NRW"  0DU]HF SU]HFLH WR PDU]HF ZUyFL QLHGáXJR ]REDF]\V] :UyFLá L VLHG]LDá Z V]DILH FDá\ G]LH  D Z QRF\ ]QRZX PLDXF]Dá QD SDUDSHFLH HE\ JR Z\SX FLü 2WZLHUDáDP RNQR L Z\SXV]F]DáDP JR Z FLHPQR ü 3U]\FKRG]Lá FR GUXJL WU]HFL G]LH  :\OHZDáDP ]VLDGáH POHNR ] PLVNL L QDOHZDáDP ZLH H 3RWHP ]REDF]\áDP JR X V VLDGyZ  PLHOL XURF] ELDá NRWN  $ SRWHP QDZHW GR QLFK SU]HVWDá SU]\FKRG]Lü 1LH NXSRZDáDP MX MHG]HQLD GOD NRWD  7U]HED ]URELü FR ] W VXN  1LH WU]\PD VL Z GRPX SVyZ L VXNL MH OL VL QLH ]DPLHU]D PLHü KR GRZOL SVyZ 3HZQHJR GQLD SU]\MHFKDOL SR QL  0áRGH V\PSDW\F]QH PDá H VWZR .RFKDM FH VL PDá H VWZR -HV]F]H QLF ]D QLPL MHV]F]H ZV]\VWNR SU]HG QLPL %R EDUG]R FKF PLHü WDNLHJR SVD % G GOD QLHM GREU]\ 1D SHZQR : GREUH U FH RGGDP URF]Q VXN  $ W\ PL PyZLV] ]XSHáQLH MDN SU]HGWHP H W\ONR PQLH NRFKDV] H UD]HP PXVLP\ Z\WUZDü H FDáH \FLH H MX ZLHV] FR MHVW QDSUDZG  H W SUDZG Z NR FX UR]SR]QDMH VL EH]Eá GQLH  QLNW QLH MHVW Z VWDQLH SRP\OLü MHM ] QLF]\P LQQ\P  WR MHVW WDNLH ZLDWáR SURVWR ] WZRMHJR ZQ WU]D NWyUH ZLH NWyUH QLJG\ QLH ]JD QLH NWyUH MHVW ZLHF]QH ] WZRMHJR QDMEDUG]LHM ZHZQ WU]QHJR GREUHJR NDZDáND FLHELH  ND GHJR  UREL VL WDNLH PL NNLH L SXV]\VWH RNU JOHMH L Z\SXV]F]D F]XáNL  W G\ L MDN WR UD] ]REDF]\V] WR MX QLJG\ QLH ]DSRPQLV] FR MHVW ZD QH &R VL ] QDPL SRURELáR" :F]RUDM RGZR]LáH PQLH GR GHQW\VW\ SR GURG]H ,  WDN PDáR F]DVX VS G]DP\ ]H VRE RVWDWQLR  PyZLáH  L  SRF]HNDP QD FLHELH  PyZLáH  L WDN PDP FR GR ]DáDWZLHQLD Z PLH FLH &R PDV] GR ]DáDWZLHQLD Z F]DVLH NLHG\ PRMD GHQW\VWND XURF]D EORQG\QND ]JUDEQD Z\VRND EORQG\QND ] PDá\P G]LHFNLHP E G]LH PL ZLHUFLáD Z Py]JX GHOLNDWQLH HE\ MDN QDMPQLHM ERODáR ZLHUFLáD D GR NR FD GR RVWDWQLHJR QHUZX ZNáDGDáD RVWUH GáXWNR NWyUH E G]LH ZLURZDü NU FLü VL W\VL F DOER L ZL FHM REURWyZ QD VHNXQG  D PQLH E G]LH SU]HV]\ZDá ERUGRZ\ EyO Z W\P F]DVLH FR E G]LHV] PLDá GR ]DáDWZLHQLD Z PLH FLH D RQD PL SORPE QD WHQ ERUGRZ\ EyO" 6SRWNDV] VL ] QL " RQD X GHQW\VW\ PDP M RGHEUDü ]D JRG]LQ  PDP GOD FLHELH JRG]LQ  GURJD PRMD FDá SHáQ JRG]LQ  PR H ]ZROQLV] VL ZF]H QLHM ] SUDF\ PR HP\ VLHG]LHü FDá JRG]LQ SU]\ NDZLH Z 0DUQRFLH ]D V]H ü L Syá ]áRWHJR W\P UD]HP MD FL SRVWDZL W NDZ  GURJL PyM JOXFLH D RQD PRMD E G]LH VLHG]LHü WDP Z IRWHOX GHQW\VW\F]Q\P L PDP\ V]H üG]LHVL W PLQXW SU]\QDMPQLHM WU]\ W\VL FH V]H üVHW VHNXQG RQD VL QLH GRP\ OD ZLH H ]HUZDáHP ] WRE  , REV]HGáH VDPRFKyG L RWZRU]\áH GU]ZLF]NL ] PRMHM VWURQ\ HE\ ]DáDWZLü VZRMH VSUDZ\ Z PLH FLH D PQLH RGZLH ü GR GHQW\VW\ ER WDN PDáR F]DVX RVWDWQLR VS G]DP\ UD]HP D SU]HFLH WU]HED WR ZV]\VWNR RGEXGRZDü

, RWZRU]\áH SU]HGH PQ GU]ZL ] PRMHM VWURQ\ D MX RG ODW RWZLHUDáH RG URGND ZL F NRPX RWZLH UDV] GU]ZL QLH RG URGND L ] NLP FL VL SRP\OLáDP H RWZRU]\áH PL GU]ZL QDV]HJR VDPRFKRGX GU]ZL SDVD HUD QDMSLHUZ" :FKRG]LV] GR NXFKQL WDN MDN SU]HGWHP MDN NLHG\ L PyZLV] MDNE\ SRNRUQLH LQDF]HM  3R]P\ZDP ] WRE  &KRZDP QDF]\QLD ] VXV]DUNL D W\ RGNU FDV] ZRG  SRWHP ]DNU FDV] L Z\MPXMHV] WH QLHV]F] VQH IXV\ SR PRLFK PRFQ\FK KHUEDWDFK ]H ]OHZX L ZLHP FR P\ OLV]  Z LQQ\FK GRPDFK NRELHW\ QLH ZU]XFDM IXVyZ GR ]OHZX 6 WDNLH SRU] GQH WDNLH JRVSRGDUQH WDNLH FKROHUQLH GREU]H ]RUJDQL]RZDQH WDNLH ] FLDVWHP GUR  G RZ\P Z QLHG]LHO L ] NRFKDQNLHP MDN P LG]LH GR SUDF\ PLHFLDU]H PDM SU]\MHFKDü 1LH PDP P\ OHü R W\P FR E\áR L FR E G]LH 0DP VL ]DM ü W\P FR MHVW -HVW H PLHFLDU]H PDM SU]\MHFKDü 3RMHPQLNL V SU]HSHáQLRQH &]DUQ\ ZRUHN Z\M ü ] GROQHM V]XIODG\ 2WZRU]\ü V]DINL UHV]WNL FXNUX GR FXNLHUQLF]NL 5HV]WNL U\ X GR SRMHPQLND QD U\  .DZ GR 3XGáR VWDUH SR NLWHNDFLH Z\ZDOLü 7RUE RG FXNUX GR NRV]D 3XGHáNR SR U\ X Z\U]XFLü .RV] SHáQ\ = NRV]D SU]HV\SDü PLHFL GR F]DUQHJR ZRUND , ZWHG\ Z\SDGD WHQ FKROHUQ\ NXEHN SR .)& NXEHN IXFNHQ FKLNHQD  L NXSLRQ\ E\á Z ÄGULYH WKUX  ]DPLDWDP SRGáRJ  NXEHN WRF]\ VL NRáR PLVNL SVD ELRU GR U NL WHQ QLH ]JQLHFLRQ\ NXEHN SR NXUF]DNX QLH E\á MHG]RQ\ NXUF]DN Z W\P GRPX QLH NXSRZDáDP NXUF]DND D W\ QLH ]QRVLV] JRWRZHJR MHG]HQLD D W\ QLH ]QRVLV] KDPEXUJHUyZ D W\ QLH ]QRVLV] MH ü QD NRODQLH E\OH JG]LH Z VDPRFKRG]LH W\ SU]HFLZQLN QLH]GURZHM \ZQR FL W\ SU]HFLZQLN VPD HQLD QD ROHMX W\ SU]HFLZQLN VPD HQLD Z RJyOH .XSRZDáH WDNLHJR NXUF]DND" 'OD NRJR" = NLP JR MDGáH  VNRUR Z PRLFK PLHFLDFK WHQ REU]\GOLZ\ NXEHN" 2QD OXEL WDNLH DUFLH" = QL V]\ENR E\OH MDN Z WDMHPQLF\  WDND MHVWHP JáRGQD PR H E\ P\ VL ]DWU]\PDOL  DOH ] SU]\MHPQR FL  SU]HSDGDP ]D SLHUGRORQ\P NXUF]DNLHP Z WZRLP WRZDU]\VWZLH QDZHW SLHUGRORQ\ NXUF]DN D WHQ PLHü MHM ]DQLHVLHP\ HE\ M V]ODJ WUDILá QLH Z\U]XFDM QLH ZROQR ]D PLHFDü QDV]HM RMF]\]Q\ QDV]HM SL NQHM 3ROVNL  MHVWH PRM 3ROVN  MHVWH PRLP 0RQDNR QLH ZROQR ]D PLHFDü QDV]HM RMF]\]Q\ U]Xü Z VDPRFKRG]LH SRWHP VSU] WQ  ]DQLRV GR PRMHJR GRPX ZáR GR PRMHJR NRV]D GR PRLFK PLHFL PRMD RQD VL W\P ]DMPLH QLH PDUWZ VL JOXWRZDWD NRELHWR PDP RG PLHFL RQ  QLH PDUWZ VL W\P QLH PDUWZ VL W\P QLH PDUWZ VL W\P $ PLHFLDU]H SU]\MH G DM GRSLHUR SR GZXQDVWHM SRMHPQLN Z JyU]H L PDV]\QD Z URGNX PLHOH L V]XPL REUDFD W\PL PLHFLDPL WDP Z URGNX D SU]\ GUXJLP SRMHPQLNX MHGHQ ] QLFK VL SRW\ND  &L NLH MDN FKROHUD PyZL FR SDQL WDP NDPLHQLH ZU]XFD PyZL FKROHUD MDVQD KD KD WR SROL F]\P\ ZL FHM KD KD L RGVWDZLDM PyMWZyM SRMHPQLN D NLHURZFD Z\SLVXMH NZLWHN D PDV]\QD PLHOL WZyMMHM NXEHáHF]HN .)& OHNNL SODVW\NRZRSDSLHURZ\ NXEHN SR NXUF]DNX NWyUHJR QLH MDGáDP %U\VLD L .XE RWUXOL ZLRVQ  1LF QLH PR QD E\áR ]URELü

3RGMHFKDOL P\ SRG GRP D RQH OH Dá\ SU]\ EUDPLH L ELDáD SLDQD SU]\ S\VNX L yáWDZH U]DGNLH Z\PLRFLQ\ RERN 3RGREQR QLH PLDá\ F]DVX HE\ VL P F]\ü :\NRSDáH SRG JUXV] GX \ Gyá =DNRSDáH SV\ 3U]HG WZRLPL XURG]LQDPL SRMHFKDáDP GR PLDVWD 7DNLH WR MX LQQH E\áR 3U]HGWHP ]DZV]H MH G]LOL P\ UD]HP 3DPL WDV] MDN QDV SU]\ WDUJX ]DWU]\PDáD SROLFMD" -D VLHG]LDáDP ]D NLHURZQLF  SROLFMDQW REHMU]Dá VDPRFKyG ] SU]RGX ] W\áX D SRWHP SRZLHG]LDá  7HUD] VWRS :\FK\OLáDP VL SU]H] RNQR L SRZLHG]LDáDP  3U]HFLH VWRM $ W\ GXVLáH VL ]H PLHFKX $ WHUD] FKRG] PL G]\ W\PL VWUDJDQDPL VDPD L ]XSHáQLH QLH ZLHP FR FL NXSLü 6WDQ áDP SU]\ NRV]XODFK FR WDP ]DF] áDP JU]HEDü SU]HELHUDü VSU]HGDZFD VWDUDá VL E\ü XSU]HMP\  &]HJR SDQL V]XND"  .RV]XOL 'OD P D  -DNLHM"  1LH ZLHP PR H FR SRG NRORU RF]X  $ SU]HSUDV]DP P NUyOLN"  UR]H PLDá VL WHQ IDFHW 3DWU] QD NRV]XO  NWyU WU]\PDáDP  NUZLVWRF]HUZRQD .XSLáDP FL FLHPQR]LHORQ  Z\JO GDV] GREU]H Z ]LHORQ\P % G]LHV] VL MHM SRGREDá MH OL VL SU]\SDGNLHP VSRWNDFLH :F]RUDM Z\á F]\OL ZLDWáR =DSDOLáDP ZLHFH VLHG] SU]\ VWROH L SUyEXM F]\WDü 6LDGDV] NRáR PQLH 3RGQRV] RF]\ ûPD ZSDGD L NO ND Z SREOL X SáRPLHQLD ZLHF\ /HSNL ZRVN SU]\WU]\PXMH MHM Z WáH QRJL $ XURZH VNU]\GáD FLHPQLHM RG JRU FD L WO VL D XURZH VNU]\GáD EH] WZRMHJR XG]LDáX QLH ] WZRMHM SU]\F]\Q\ $ SU]HFLH JLQLH $ QLHGáXJR SR WHM ZL]\FLH V VLDGD :LHF]RUHP SU]\WXOLáH VL GR PRLFK SOHFyZ PyZLáH  ZLHP ZLHP H FL ]UDQLáHP DOH QLH VNUH ODM QDV P\ MHVWH P\ ZD QLHMVL SR]ZyO PL FL NRFKDü 7ZRMH U FH E\á\ WDNLH VDPH MDN SU]HGWHP FDáRZDáH PQLH GHOLNDWQLHM QL ZWHG\ NLHG\ E\áR QDV GZLH E\áH WDNL VDP MHV]F]H F]XOV]\ MHV]F]H XZD QLHMV]\ L SU]HVWDáDP SDPL WDü WDN QDJOH ]URELáR VL QDV GZRMH PRMD VNyUD VL Z\JáDG]LáD GOD FLHELH RG WZRMHJR GRW\NX E\áH WDNL ]QDMRP\ WDNL PyM .RFKDOL P\ VL SLHUZV]\ UD] RG WDPWHM VRERW\ WDN FXGRZQLH D W\ SRWHP FDáRZDáH PQLH SR RF]DFK L V]HSWDáH  ZLG]LV] WHUD] E G]LH QDP MHV]F]H OHSLHM WHUD] MD MX ZLHP QD SHZQR WDN FL NRFKDP PRMD RQR , QRFH VL ]QRZX ]URELá\ QLE\ QDV]H , ]LPD PLQ áD -H]X SR FR ZFKRG]LáH GR WHM NXFKQL""" .URM VRELH ZDU]\ZD REHMPXMHV] PQLH ] W\áX  3RPRJ FL  PyZLV] .LHG\ UD]HP JRWRZDOL P\ , E\áR WDN MDN NLHG\  7DN H Z G]LH   % G RELHUDá GDM JG]LH MHVW WHQ QR \N GR ZDU]\Z"  , ]DF] áH JU]HEDü Z WHM V]XIODG]LH FRUD] EDUG]LHM QLHFLHUSOLZLH  'ODF]HJR QLF Z W\P GRPX QLH PR QD ]QDOH ü" : W\P GRPX , WDN QDJOH ]LPQR PL VL ]URELáR .URM W PDUFKHZN GX \P QR HP EH] VáRZD L NURM W PDU FKHZN QD PDOH NLH NDZDáHF]NL PR H JG\E\P NURLáD W\P PQLHMV]\P F]DUQ\P QR \NLHP DOH PL E\áR ZV]\VWNR MHGQR SU]HFLH WR ZV]\VWNR MHGQR NWyU\P QR HP VL NURL VPDNXMH WDN VDPR .URM W PDUFKHZN  UD]HP JRWRZDOL P\ $ SU]HG %R \P 1DURG]HQLHP WR PLHOL P\ WU]\QD FLH NDUSL Z ZDQQLH QLH PRJOL P\ VL UD]HP N SDü ER Sá\ZDá\ D NRW VLDGDá QD EU]HJX L ZVDG]Dá áDS GR ZRG\ MDN QDP VL ]QXG]LáR JR SRGJO GDü WR ZFKRG]LOL P\ UD]HP SRG SU\V]QLF L MDNR WDN ]DZV]H VL URELáR IDMQLH PDáD MHVW WD NDELQND W\OH SDU\ P\GOLOL P\ VL QDZ]DMHP WDN EOLVNR VLHELH D SRWHP QDJOH SU]\WXODáH PQLH  NLHG\ WR FDáH P\GáR VL UR]SX FLáR Z EURG]LNX ]DQLP

'ODF]HJR PQLH ]DS\WDáH  JG]LH MHVW WDND RELHUDF]ND ] ELDá U F]N " = ELDá U F]N WR QLJG\ X QDV QLH E\áR PDUFKHZND F]HUZLHQLHMH EODW SRZL NV]D VL Z RF]DFK FLDFK FLDFK FLDFK ] ELDá U F]N " VN G FL VL Z]L áD ELDáD U F]N  ] ]LHORQ WR E\áD SU]\ZLR]áH ] $QJOLL PDUFKHZND PL VL VNU FD GHVND RGFKRG]L RG PRMHJR QR D $ ZF]RUDM SRZLHG]LDáH SRG SU\V]QLFHP MDND W\ Z\VRND MHVWH  VL JDV] PL GR EURG\ 1LH ND GD VL JD FL GR EURG\ L NRODQD PDP WDNLH V]F]XSáH V]F]XSOHMV]H QL  L ZáRV\ LQQH QLH WDNLH JOXWRZDWH %LDáD RELHUDF]ND Z PRMHM V]XIODG]LH" &R Z WHM NXFKQL WDN PDáR PLHMVFD FLDQ\ UREL NURN GR SU]RGX $ W\ WDN QDJOH ]D EOLVNR  Z WHM ]LHORQHM NRV]XOL 7HQ GX \ Qy  GX \ Qy RG PDUFKHZNL ZV]HGá WDN PL NNR Z WR ]LHORQH MDN Z UR]JRWRZDQH ]LHPQLDNL DOER FR QLH ZLHG]LDáDP H F]áRZLHN MHVW WDNL PL NNL $ RELHUDF]ND ] ELDá U F]N VIUXZD QD WHUDNRW  RGELMD VL  WD RELHUDF]ND NXSLáH Z *OREL F]WHU\ W\JRGQLH WHPX WU]\ SL üG]LHVL W ] ELDá U F]N  WDPW ] ]LHORQ VXND SRJU\]áD GODWHJR NXSLáH  D W\ ]D W RELHUDF]N QD NRODQD MDNE\ FKFLDá REM ü SRGáRJ  U NDPL WDN V]XNDV] W\ONR JáRZD QD ERN L PyZLV] WDN PL NNR áDJRGQLH MDN NLHG\  WDN VSRNRMQLH F]XOH WDN JDVQ FR  &R W\ $VLXONX ]URELáD  QR FR W\ ]URELáD  1R FR MD ]URELáDP , NáDG]LHV] VL QD SOHFDFK /H \V] WDP GDOHM" 1DSUDZG OH \V] ] U NDPL RGU]XFRQ\PL QD ERNL Z\VRNLH F]RáR ]DPNQL WH RF]\  MDNLH PLDáH RF]\  MX QLH SDPL WDP" =LHORQH V]DUH QLHELHVNLH" : WHM ]LHORQHM NRV]XOL E\á\ QD SHZQR ]LHORQH GáXJLH U] V\  Z\ZLQL WH GR JyU\ NRELHFH U] V\ SURVW\ QRV ] OHZHJR N FLND XVW V F]\ VL QLWHF]ND OLQ\ QLH RJRORQH SROLF]NL F]\ WR SUDZGD H ZáRV\ MHV]F]H URVQ SR PLHUFL F]\ SD]QRNFLH MHV]F]H URVQ SR PLHUFL  MDN GáXJR E G]LHV] WDN OH Dá D QLHNWyUH NRPyUNL E G MHV]F]H SUDFRZDá\ Z\WUZDOH Z QDG]LHL H WR QLH NRQLHF" \áNL SR RGPUR HQLDFK  WXWDM L WXWDM $ Z WDNLHM JUDQDWRZHM EOX]LH PLVLRZDWHM SXV]\VWHM  FR MX VL VSUDáD Z ]HV]á\P URNX WDN H ]RVWDá\ W\ONR Z\ ZLHFRQH PLHMVFD  QD SHZQR QLHELHVNLH -X QLH ]REDF]  1LH SDPL WDP PXV] VSUDZG]Lü ]DUD] W\ FK\ED NUZDZLV] $ WXWDM WDNL FLHQLXWNL ]ZLWHN VNyU\ WURV]N IDOXMH UXV]D VL WDN GHOLNDWQLH L QLH ZLHP 0XV] ]DG]ZRQLü 7\ONR H MX PL QLH PR HV] QLF ]URELü 1LF ]áHJR 7HUD] GRWU]\PDV] VáRZD  QLJG\ FL QLH VNU]\ZG]  ]DZV]H E G FL NRFKDá , MD WHUD] PRJ GRWU]\PDü VáRZD 1LH E G]LHV] ]á\ QLH]DGRZRORQ\ PLOF] F\ RERM WQ\ 1LH SRP\OLV] VL  1LH E G FL VL P\OLü 1LH ]DZLHG]LHV] PQLH 1LH RNáDPLHV] PQLH 1LH ]RVWDZLV] PQLH 1LH SU]HVWDQLHV] PQLH NRFKDü 1LH E G]LHV] QD PQLH NU]\F]Dá 1LJG\ PQLH QLH ]UDQLV] 1LJG\ MX QLH ]URELV] PL QLF ]áHJR 1LH ]GUDG]LV] PQLH $OH QLJG\ MX QLH SRFK\OLV] VL QDGH PQ QDG UDQHP L QLH SRZLHV]  NRFKDP FL  PRMD RQR X PLHFKQLM VL  1LJG\ MX QLH SRFDáXMHV] PQLH Z Z\VXQL W VSRG NRáGU\ VWRS  1LJG\ QLH SRZLHV]  QLH PDUWZ VL  PR HP\ SDWU]Hü MDN URVQ  1LJG\ QLH SU]\WXO VL Z QRF\ GR WZRMHJR EU]XFKD 1LJG\ QLH XVá\V]  MDN áDPLH FL VL JáRV NLHG\ NRFKDV] VL ]H PQ L PyZLV] RGG\FKDM RGG\FKDM SURV]  1LJG\ QLH SRZLHV]  %R H MDN WR GREU]H H MD FLHELH PDP 1LJG\ QLH SRZLHV]  WR ZV]\VWNR FHORZR HE\ P\ ZLHG]LHOL FR MHVW ZD QH 1LJG\ QLH Z\EDF]\V]