>9 ;N18MB !5@51@O=>3> 25:0 (?>M78O . . E<0B>2>9)
>M78O ?@>1C6405B 2 4CH5 G5;>25:0 =081>;55 72>=:85 AB@C=K, 70AB02;O5B >B>@20BLAO >B @50;L=>9 459AB28B5;L=>AB8 8 2>A?0@8BL A2>59 BK. !B8E8 A?>A>1=K AB0BL 4;O G5;>25:0 A?0A5=85< 2 B@C4=KE 8 4065 2 B@038G5A:8E >1AB>OB5;LAB20E. 8D<>20==K5 AB@>:8 70AB02;ONB 704C<0BLAO > 2>72KH5==><, 1;03>@>4=><, 25G=><.
>M78N ==K =4@552=K E<0B>2>9 =52>7<>6=> G8B0BL A @02=>4CH85<. C:20;L=> :064>5 55 ?@>872545=85 ?5@52>@0G8205B 2A5 ?@82KG=K5 ?@54AB02;5=8O > <8@5, 70AB02;O5B 8=0G5 273;O=CBL =0 >:@C60NICN 687=L.
!B8E8 E<0B>2>9 C4828B5;L=K, >=8 ?@>ABK 8 157KA:CA=K, =0 ?5@2K9 273;O4. > 5A;8 24C<0BLAO, B> >B:@K205BAO 8E 8AB8==K9 A=8<05B, GB> >:07K205BAO ?5@54 1574=>9 GC2AB2, M<>F89, <0B>20 AC<5;0 2K@078BL 2 AB8E0E 2A5 3;C18==K5 CAB@5<;5=8O G5;>25G5A:>9 4CH8, 2A5 >BB5=:8 GC2AB2 8 M<>F89. :064K9, :B> =0G8=05B G8B0BL 55 15AA<5@B=K5 ?@>872545=8O, C482;O5BAO, =0A:>;L:> 1;87:> 8 ?>=OB=> 5 G5< 3>2>@8;0 ?>MB5AA0.
#65 2 @0==8E AB8E0E ==K E<0B>2>9 <>6=> C2845BL 2A5, G5< 68;0 ?>MB5AA0. 5 2=CB@5==89 <8@ 1K; C4828B5;L=> 1>30B. =5< =0E>48;>AL <5AB> 2A5AE8I5=8N :@0A>B>9 >:@C60NI53> <8@0 8 C4828B5;L=>9 AB8, A2>9AB25==>9 ?>MB5AA5. =0 <>65B ;53:>, A0ABK<8 A;>20<8 ?5@540BL A2>5 =0AB@>5=85 2 AB8E0E:
>;NAL >:>==>
= 1;545=, B>=>:, ?@O<.
!53>4=O O A CB@0 <>;GC,
A5@4F5 ?>?>;0<.
?>M788 =5 ACI5AB2C5B <5;>G59, 2A5 8<55B A2>5, ' >G5=L 206=>5 7=0G5=85. N1>2=0O ;8@8:0 E<0B>2>9 702>@068205B, 70AB02;O5B ?@>=8:=CBLAO 2A5<8 GC2AB20<8, :>B>@K5 B>;L:> <>3CB ?@8ACBAB2>20BL 2 A5@4F5 2;N1;5==>9 65=I8=K:
"0: 15A?><>I=> 3@C4L E>;>45;0,
> H038 <>8 1K;8 ;53:8.
/ =0 ?@02CN @C:C =045;0
5@G0B:C A ;52>9 @C:8.
>:070;>AL, GB> <=>3> ABC?5=59,
O 7=0;0 8E B>;L:> B@8!
564C :;5=>2 H5?>B >A5==89
>?@>A8;: !> <=>N C<@8!
>M78O E<0B>2>9 C4828B5;L=> F5;>9 65=I8=K =0AB>;L:> 2>72KH5==K, GB> :065BAO, 1C4B> 02B>@>< MB8E AB@>G5: O28;>AL =575<=>5 ACI5AB2>. AB8E0E ==K E<0B>2>9 ?5@54 G8B0B5;5< @0A:@K205BAO C4828B5;L=0O :@0A>B0 ;N128, A?>A>1=0O >?@0240BL 2A5, GB> ;N48 <>3CB A>25@H8BL @048 MB>3> ?@5:@0A=>3> GC2AB20. !B8E8 A2845B5;LAB2CNB > 3;C1>G09H5< AB@040=88, :>B>@>5 <>65B 4>AB028BL ;N1>2L. > MB> AB@040=85 >4=>2@5<5==> 2>72KH05B G5;>25:0. ?>MB>2L ?@54AB05B 8A?KB0=85<, ?>A;0==K< A2KH5.
!@548 ?>2A54=52=KE 701>B 8 ?@>1;5< AB8E8 E<0B>2>9 <>3CB >:070BLAO >078A><, >A2560NI8< 4CHC, 2L MB> =5 ?@>AB> 83@0 2>>1@065=8O, 0 548=AB25==0O @50;L=>ABL, :>B>@0O <>65B ?>4=OBL G5;>25:0 =0 25@H8=C AG0ABLO. KA;8 > ;N128 70AB02;ONB 704C<0BLAO > A>1AB25==>9 4CH5, > :>B>@>9 ?>4G0A < 2 AC5B5 ?>2A54=52=>AB8. N1>2L 70AB02;O5B @0A?@028BL :@K;LO 8 27;5B5BL =04 A5@>9 8 C=K;>9 459AB28B5;L=>ABLN. > >4=>2@5<5==> ;N1>2L <>65B >:070BLAO BO65;K< :0<=5<, :>B>@K9 =5 405B ?>4=OBLAO 8 2>A?0@8BL.
5 ;N18HL, =5 E>G5HL A<>B@5BL?
, :0: BK :@0A82, ?@>:;OBK9!
O =5 <>3C 27;5B5BL,
A 45BAB20 1K;0 :@K;0B>9.
AB8E0E E<0B>2>9 ;8@8G5A:0O 35@>8=O C4828B5;L=> @><0=B8G=0. =0 >1@0I05B 2=8<0=85 =0 2A5 7=0:8 >:@C60NI53> <8@0, 8 01A>;NB=> =0 2A5 >=0 GCB:> @5038@C5B. 064K9 ?>ABC?>:, AB@5<;5=85 8;8 A;>2> <>3CB >:070BLAO @5H0NI8<8 8;8 65 @>:>2K<8.
K;> 4CH=> >B 63CG53> A25B0.
273;O4K 53> :0: ;CG8.
/ B>;L:> 274@>3=C;0: MB>B
>65B <5=O ?@8@CG8BL.
0:;>=8;AO >= GB>-B> A:065B...
B ;8F0 >BE;K=C;0 :@>2L.
CABL :0<=5< =043@>1=K< ;O65B
0 687=8 <>59 ;N1>2L.
>MB5AA0 =5 ?@>AB> 2>A?5205B :@0A>BC ;N128. =0 3>2>@8B, GB> ;N1>2L <>65B >4=>2@5<5==> AB0BL 25;8G09H59 87 B@035489, >1@5:0NI59 G5;>25:0 =0 =5AG0ABL5. > 157 ;N128 B5@O5BAO A0< AMB>25: BO=5BAO : =59 2A5< A2>8< ACI5AB2><. AB8E0E E<0B>2>9 2AB@5G0NBAO 87KA:0==K5 A@02=5=8O. >MB5AA0 15A54C5B A 15AA>==8F59, @0AA:07K205B 59 > A2>8E ?5@56820=8OE:
"K >?OBL, >?OBL A> <=>9, 15AA>==8F0!
5?>4286=K9 ;8: B2>9 C7=0N.
'B>, :@0A028F0, GB>, 15770:>==8F0,
0725 ?;>E> O B515 ?>N?
8@8G5A:0O 35@>8=O E<0B>2>9 ?>AB>O==> @07 A4OB : C4828B5;L=> :@0A82K< 8 87KA:0==K< >1>@>B0< 2 AB8E0E, 2>A?520NI8E 25;8:>;5?85 687=8:
/ =0CG8;0AL ?@>AB>, 68BL,
!<>B@5BL =0 =51> 8 <>;8BLAO >3C,
4>;3> ?5@54 25G5@>< 1@>48BL,
'B>1 CB>;8BL =5=C6=CN B@52>3C.
E<0B>20 CA?5205B 70<5B8BL 2A5 2>:@C3 8 2>A?5BL MB> 2 A2>5< B2>@G5AB25. ;>?CE8 2 >2@035, 8 3@>748 65;B>-:@0A=>9 @O18=K, 8 B 2A5 MB> =0E>48B A2>5 >B@065=85 2 AB8E>B2>@5=88. 0 ?5@2K9 273;O4, MB> =5ACI5AB25==K5 45B0;8. > 254L 2A5 MB> G0ABL 687=8, B0:>9, :0:0O >=0 5ABL 2 459AB28B5;L=>AB8.
>340 O G8B0N AB8E8 E<0B>2>9, <=5 :065BAO, 1C4B> ?5@54> <=>9 @0A:@K205BAO C4828B5;L=K9 <8@, F5;0O A5;5==0O 55 4CH8. ==0 =4@552=0 68;0 2 =5;53:>5 4;O AB@0=K 2@51I5G5;>25G5A:85 F5==>AB8 1K;8 701KBK. 8<5==> ?>MB>@G5AB2C E<0B>2>9 >B=>A8;8AL =0AB>@>65==>... A0MB5AAC =0720;8 2715A82H59AO 10@K=L:>9, <5GCI59AO <564C 1C4C0@>< 8 <>;5;L=59. 0A:>;L:> GC4>28I=> =5A?@0254;82K<8 :06CBAO ?>4>1=K5 2KA:07K20=8O A53>4=O, :>340 157CA;>2=0O 35=80;L=>ABL 0E<0B>2A:>3> B2>@G5AB20 >F5=5=0 G8B0B5;O<8 ?> 4>AB>8=AB2C!
/
!>G8=5=85 =0 B59 ;N18MB !5@51@O=>3> 25:0 (?>M78O . . E<0B>2>9) ?> ;8B5@0BC@5
