' " .7DJcA?D IYPZ=;:cD IZ@;JBc ?H:ELI? ¦`7>D7CcI?D:c O;H 7B7D ¦?@cD Lc
'cD?@c§ :7IJ7D_D_D IZ@;J? ;Bc9c :c 0 cIH ;HCcD? J7H?NX?I? ' 2EH;D7JI?D?D DcGB
;J:?O? H;7B 8?H J7H?N? >7:?Ic 7H7I_D:7 87[B_B_G =YHCcA:c Lc EDB7H_ ;OD? AYA:cD >;I78
;JCcA:c:?H .7DJcA?D I
?H:ELI?D?D DcGB ;J:?O? IZ@;J?D G_I7 CcPCKDK 8;Bc:?H
@;]<7 3:P7:]@7 W@/< [/6Y ,=A@=DC< F/
AT@T:]@7<7< B/>2/UY /:BY<2/ ?/:2YUY
=<2/< F/@2Y; 7AB]F7@:]@ ,=A@=D [/6 SGT
0]:]2P7 ?=[C0 3@;]<7:]@] 9S;]F] 5S<2]@7@ 78]< 4]:/9]B7 3@;]<7 B=@>/?:/@Y<2/<
B]90/[Y @]22 327@ C >/EY::YUY BCB/< ]@57< 78]<] E/7< PYEY@ 78]<7 ;]6D
3B;]9 7AB]F7 7:] =BFbH .EDG7D_D ¤ .
5T<][]
0]
23F7@ 97 0C ?YG:/@2/< ]:2] 3270 ,=A@=D [/6/ B]?27; 3B;]9 >7A =:;/G2Y 7F:]F]
CF/< 78]< ]@57<7 ;3[]<7< F/
2/:Y<1/ )C@/ 5327@ ]@57< 78]<7< ?/FYB;/AY
W@/ ?/FY2Y@ D] 78]<7< 7B97< 2T[2TFT
\4@/A7F/0 0/[2/ ?/@/ E/< =:;/?:/ 6]@07 2]AB] 5S<2]@70 A]@E=[ 6/:2/ =:/<
78]<7 2CAB/? 3B27@7@ D] ?=: ?YPY G]<17@ DC@2C@/@/? ?/@/<:Y? ?CFCF/ a G7<2/
/B2Y@Y@ &YGY "]<78]<7 7A] =
.7<2/<2/ 78]<7< D]G7FF]B7 = ?]2]@ /UY@:/[Y@ 97 )/<@Y2/< SGT<] S:T; /@GC:/FY@
C@/2/ = 57G:71] 0/[ P]9]< ?/FUYAY ?/:/< 07@ B]9 7
78]<2]< CGC< G/;/< A]A A=@/? PYE;/2YUY
F3@7<7 5SAB]@] 07:]< A36@:7 1/;/ 0/EY0 78]<7< 6/@/2/ =:2CUC
$
?C@B/@Y0 "]<78] 7:] 07@:792] W@/ 5S<2]@7@d x o
9 .7DJcA?D I
?H:ELI?D?D DcGB ;J:?O? IZ@;J:c :c ;HCcD?BcH?D 7:_D_D A;XCcI? :?GGcJXcA?X?:?H
¦B_F '7D7a§ D7[_B_D:7 Gc>HcC7D_D G7OD7J7I_D_D Lc 7D7I_D_D 7:B7H_D_D
7DJHEFED?C :;O?B ;JDED?C EBC7I_ :?GGcJ? XcA?H B_F '7D7a_D G7OD7J7I_D_D 7:_
+_H[_P N7D 7D7I_D_D 7:_ ?Ic bHCcD S;X;D:?H D7I_D_D 7:?D:7A_ ¦cHCcD§ ;HCcD?
Lc ¦X;X;D§ ;JDED?CBcH?D? =YHCcCcA CZCAZD :;O?B:?H K <7AJ D7[_B_D UD I?O7 Lc
+7
7 :cG?G :;IcA PcH87O97D CcDacB? EB7 8?Bc9cO?D? :ZaZDCcOc cI7I L;H?H
.cI7:Z :;O?B A? ;OD? IZ@;J +78K IZ@;JBcH? ]H7D CcDacB? >;I78 ;:cD Lc CZG7O?IcOc XcAcD 0 '?BB;H?D O7P:_[_D7
=YHc IL7DB7H:7 B_F '7D7a_D <7HI L;HI?O7I_D:7 ?@cD ;HCcD? L;HI?O7I_D:7 '7@7D
7:_ ;@7D EI;J?DBcH:c ?Ic ;P7D A?C? A;X?H o 9 .7DJcA?D
I
cDPcH IZ@;J? ' 2EH;D7JI? 0 cIH :c G;O:c 7BC_a:_H )D:7 Gc>HcC7D_D 7:_
'7@7D =YHCc:cD LKHKB:K[K Lc EDKDB7 GELKaC7G ZXZD KP7G Ic?Ic '7DJK:KH .7DJcA?D I 3;H? =cBC?aAcD G;O: ;:cA A? ¦B_F
'7D7a§_D ) )XK87O JcHcHcC7D_D 7H:_D97 =;J:?O?
G_P_D 7:_ HA; %7HX?D OEN '7D@7A:_H A? 8K :7 ¦`7>D7Cc§:cA? 'cD?@c 7:_ ?Bc ZIJ
ZIJc :ZaZH j 9
' " .7DJcA?D YPZDZD ¦cB? ;97D IKHcJ?D?D FHEJ?FBcH? CcIcBcI?Dc :7?H§XEN
:cOcHB? CcG7BcI?D:c .7DJcA?D IYPZ=;:cD BJ7O D7[_B_ ?Bc IcIBcacD 8?H I_H7