ࡱ> q`bjbjqPqP>::Hd'B B B D TTT U,6U 2WW"(W(W(WLNNNNNN$hr-B c"ccr(W(Wic&(WB (WLcL2L: B (WV `lo~Th.00r;g*;\;B ( ~rr^cccc HT T  +  /?> >A=>2=K< =0?@02;5=8O@20=8O A8AB5>E@0=5=8O564C=0@>4=K9 A878C 74@02>>E@0=5=8N (>E0==5A1C@3 2002 3.) :>=AB0B8@>20;:B>645AB2;5=85 3> ?@>872>4AB20 A D0@9 ?@>ABLN ?@82>48B : 872;5G5=8N :>;>AA0;L=>9 ?@81K;8 =0 ;N4A:8E 1>;57=OE, GB> >1>H;>AL G5;>25G5AB2C 2 A>B=8 =>2 ;N4A:8E AA;54=85 100 ;5B.59AB2CNI59 A8AB5>E@0=5=8O, :0: A>2>:C?=>AB8 9 8 D0@9 A>AB02;ONI59 2K3>4=>, GB>1K 1K;> 1>;LH5 E@>=8G5A:8E 8 A;>6=> ;5G8;520=89, ;N48 G0I5 1>;5;8, 0 ;5:0@AB20 1K;8 =5 B>;L:> 4>@>38, => 8 ?>@>640;8 =>2K5 ;5:0@AB25==K5 1>;57=8@8G8=>9 :@878A0 2>9 A8AB5>E@0=5=8O O2;O5BAO =0?@02;5==>ABL =0 <0:A8E@0=5=85 8 C:@5?;5=85 74>@>2LO G5;>25:0 (@8;>65=85 ! 1).! CG5B>AA89A:>9 459AB28B5;L=>AB8 ?@54;0305BAO 2 CA:>@5==K5 A@>:8 @50;87>20BL A;54CNI55 107>2K5 ?@54;>65=8O ?> >A=>2=K< =0?@02;5=8O@20=8O A8AB5>E@0=5=8O:57 >1J5:B82=>9 8=D>@76=> MDD5:B82=>5 C?@02;5=85 ;N1>9 A8AB59, 2 B>< G8A;5 A8AB59 74@02>>E@0=5=8O. @028B5;LAB2>, :0: 8A?>;=8B5;L=K9 >@30= 3>AC40@AB25==>9 2;0AB8, =5 65B G5@57 3>AAB0B8AB8:C, ?>4G8=5==CN 51J5:B82=> >F5=820BL A>1AB25==CN 45OB5;L=>ABL. "@51C5BAO A>740=85 =57028A89 >B @028B5;LAB20 A8AB5@0, >1@01>B:8, 0=0;870 8 :>=B@>;O >1J5:B82=>AB8 AB0B8AB8G5A:>9 8=D>@@, >1@01>B:C, 0=0;87 8 :>=B@>;L >1J5:B82=>AB8 AB0B8AB8G5A:>9 8=D>@7;>68BL =0 !G5B=CN 0;0BC (>@30= $545@0;L=>3> A>1@0=8O $), ?CB5?>;=5=8O $545@0;L=>3> 0:>=0  !G5B=>9 ?0;0B5 $'5;>25:  25=5F ?@8@>4K 8 3;02=K9 :0?8B0; 3>AC40@AB20. 0 53> 4CE>2=>5 8 D878G5A:>5 74>@>2L5 4>;65= >B25G0BL 8 >BG8BK20BLAO @57845=B 8 @C:>2>48B5;8 AC1J5:B>2 $545@0F88. @54;0305BAO: 5653>4=> =0 @0AH8@5==>AA>25B0 @0AA:;04 @57845=B0 $  A>AB>O=88 4CE>2=>3> 8 D878G5A:>3> 74>@>2LO =0F88 A ?@8=OB851O70B5;L=KE 4;O 2A5E C@>2=59 >AC40@AB25==>9 2;0AB8 $.2545=85 8=B53@8@>20==>3> ?>:070B5;O (8=45:A 74>@>2LO =0F88) ?>72>;8B >1J5:B82=> >F5=820BL MDD5:B82=>ABL 45OB5;L=>AB8 >@30=>2 3>AC40@AB25==>9 2;0AB8 8 4>;6=>AB=KE ;8F, >B25BAB25==KE 70 A>AB>O=85 74>@>2LO =0F88 8, A>>B25BAB25==>, @50;87>20BL :0G5AB25==CN :04@>2CN ?>;8B8:C.@54;0305BAO: 225AB8 8=B53@8@>20==K5 ?>:070B5;8 >F5=:8 MDD5:B82=>AB8 A8AB5>E@0=5=8O:8=0<8:0 872=O 74>@>2LO;8=0<8:0 872=O ?@>4>;68B5;L=>AB8 687=8.@30=870F8O :>9 AB@C:BC@K, >B25BAB25==>9 70 48=0<8:C 87@>2LO =0F88, ?>72>;8B 8=48284C0;878@>20BL >B25BAB25==>ABL 8 8A:;NG8BL 2>76=>ABL CE>48BL >B >B25BAB25==>AB8, AAK;0OAL =0 4@C385 >@30=K 3>AC40@AB25==>9 2;0AB8. @54;0305BAO: CA:>@8BL @07@01>B:C :>=F5?F88 8 CB25@645=85 =>@9 107K ?> D>@20=8N 8=8AB5@AB20 74@02>>E@0=5=8O 8 9 ?@>AB8, F5;LN :>B>@>9, :0: :>9 AB@C:BC@K, 4>;6=> O2;OBLAO 48=05 ?>2KH5=85 C@>2=O 74>@>2LO 8 ?@>4>;68B5;L=>AB8 687=8 =0A5;5=8O. (@8;>65=85 !2: 07>2K5 DC=:F8>=0;L=K5 1;>:8 8=74@021E>48 A>740BL M:>=><8G5A:89 <5E0=87@85=B0F88 A8AB5>E@0=5=8O >B ;5G5=8O : ?@>D8;0:B8:5 701>;520=89. @54;0305BAO: 2 $545@0;L=>>E@0=5=8O 2A53>, 2 B>< G8A;5:1J520=8O ;5G5=8O 701>;520=89;1J520=8O ?@>D8;0:B8:8 701>;520=89.@8 MB>1E>48 ?>AB5?5==>5 ?@82545=85 40==KE =0?@02;5=89 <548F8=K : A;54CNI5>B=>H5=8N:5G5=85  80%, 70%, 60%, 50%@>D8;0:B8:0  20%, 30%, 40%, 50%5=>?>;870F8O A8AB5>E@0=5=8O ?>72>;8B =870< A0AB>OB5;L=> >?@545;OBL :0: ;5G8BL 8 G5A=>25 =0CG=KE 8 ?@0:B8G5A:8E @07@01>B>: 25@E>2, 0 B0:65 >A@55AB@0 ;5:0@AB25==KE A@54AB2, >A@55AB@0 18>4>102>:, >A@55AB@0 8745;89 3> =07=0G5=8O 8 $>@9 A8AB5<K $. @54;0305BAO: 87=0;L=>5:B5 4>@>2L5 25:B>@ 45OB5;L=>AB8 >B A25@EC 2=87 =0 A=87C 225@E, B.5. A>740BL A8AB5B>@>9 A?@>A A>740NB =87K. @8 MB>@@C?F8>==>5 =02O7K20=85 =870, GB> 4;O =8E =5 0:BC0;L=>. "@51C5BAO ?5@5AB@ (0C48B) D>@9 A8AB5B>@0O 70 ?>A;54=85 15 ;5B 7=0G8B5;L=> @0AH8@8;0AL 70 AG5B @K=>G=KE =0@>AB>2. 5>1E>48 @50;87>20BL 8=B53@0B82=CN @>2LO (@8;>65=85 ! 3), >15A?5G820NICN ;5G5=85 8 ?@8G8= 8 A;54AB289 701>;520=89, A 8A?>;L7>20=85?0B8G5A:8E 8 3>?0B8G5A:8E ?@5?0@0B>2, 0 B0:65 @09>=8@>20==KE M;5-28B02. 57 87@0 A8AB5>1@07>20=8O, =52>76=> >AB0=>28BL =5>1>A=>20==>5 C25;8G5=85 AB>8AB8 <548F8=A:8E CA;C3 8 2K3> 0AA>@B82.@54;0305BAO: 225AB8 48DD5@5=F8@>20==CN @53@5AA82=CN H:0;C B>@3>2KE =0F5=>: =0 ?@5?0@0BK (G5872>48B5;O, B5< =865 (2 %) @07@3>2>9 =0F5=:8). 0;L:C;OF8O AB>8AB8 :><<5@G5A:8E 1O70B5;L=>@O4:5 4>;6=0 ?@>E>48BL CB25@645=85 2 @538>=0;L=>9 AB@C:BC@5 $545@0;L=>9 A;C61K ?> B0@8D01E>48 >AB0=>28BL ?@>F5AA C25;8G5=8O ;5G51=>-?@>D8;0:B8G5A:8<8 CG@5645=8O3> 25A0 :><28BL AB>8AB=>5 A>>B=>H5=85 <564C 15A?;0B=K1A;C6820=85 CB25@645==K< AB0=40@B0<<5@G5A:8<8 CA;C30>B=>H5=88 75:25 (%).57 A>1AB25==>9 9 ?@>AB8 =52>76=> >15A?5G8BL MDD5:B82=>5 @0AE>4>20=85 A@54AB2, =0?@02;5==KE =0 74@02>>E@0=5=85, 0 B0:65 A>E@0=8BL 2KA>:CN 157>?0A=>ABL AB@0=K. @54;0305BAO: ?@8=OBL $545@0;L=CN :>3@0< @0728B8N 9 ?@>AB8, =0?@02;5==CN =0 CA:>@5=85 2>7@>645=8O >B5G5AB25==>9 9 ?@>AB8."@51C5BAO @50;87>20BL ?@8=F8? 45:@0B8G5A:>3> F5=B@0;8715A?5G5=8O A5;5:F88 ;CGH8E :04@>2 2 A8AB5>E@0=5=8O. @54;0305BAO: 225AB8 2K1>@K @C:>2>48B5;59 A8AB5>E@0=5=8O A=87C-225@E A ?>4:;NG5=852 3@0640=A:>3> >1I5AB20. 0 @0AAB@5=85 B@C4>2KE :>;;5:B82>2 # 2K42830BL =5 2>48B5;59, 0 =0 A;54CNI5@K @C:>2>48B5;59 74@02>>E@0=5=8O AC1J5:B>2 $545@0F88 >ACI5AB2;OBL =0 @538>=0;L=KE :>=D5@5=F8OE @C:>2>48B5;59 # 87 =5 <5=55 4 :0=4840BC@, 2K428305?>@F8>=0;L=> (?> 2 :0=4840BC@K) >B 8=AB8BCB>2 3@0640=A:>3> >1I5AB20 8 @C:>2>48B5;59 @538>=>2. ;02=K@7>F80;L=>-M:>=>3> @0728B8O $ O2;O5BAO =5>?B8<0;L=0O A8AB5B>@0O A>7405B A?@>A =0 C25;8G5=85 :>;8G5AB20 G8=>2=8:>2 (C25;8G5=85 70 ?>A;54=85 5 ;5B A>AB028;> 36%) 8, A>>B25BAB25==>, 70B@0B =0 C?@02;5=85. @54;0305BAO: @07@01>B0BL :>=F5?F8N 8 >@30=870F8>==>-M:>=><8G5A:CN 45;L >1I5AB25==>-3>AC40@AB25==>9 A8AB5AA8O, 1078@CNICNAO =0 0:>=0E 2A5>1I53> @0728B8O 8 =0 MB>9 >A=>25 ?@>25AB8 A8AB5MB0?=CN @5D>@65=85 !1 +  " + ! !"#.) !!"+  % /   !!"  % /0B@0BK:2@>?0  1,0B@;.$ (6-9 % )!(  1,6 B@;.$ (14-15% ) !!0B@0BK: 136,0 <;@4. $ (2,9-3,0 %)865 2 5,7 @070, G5< 2 !(, 0 2 ?5@5AG5B5 =0 1 68B5;O.75 ?> 70B@0B0<127  ?> ?>:070B5;O@>2LO-DD5:B82=>ABL 70B@0B 59,1%">;L:> 7% @>AA8O= E>@>H> >F5=820NB A>AB>O=85 74@02>>E@0=5=8O K?CA:05BAO 1>;55 200 BKA. =0820=89 ;5:0@AB2 =0 AC<;55 600 25=L >1I59 701>;5205AB8 C25;8G8;AO =0 31,0%, 0 4>;O CG57@0AB5 - =0 29,0%70% =>28=>: =5 8<5NB B5@0?52B8G5A:8E ?@58 =0 @01>BC =5 2KE>48B >:>;> 3,0 <;=.G5;., 0 20-25 48BAO =0 @01>B5 2 ?@54- 8;8 ?>AB- 1>;57=5==>AB>O=88">;L:> 25% 701>;520=89 8<5NB 045:20B=K5 4K ;5G5=8O65% H:>;L=8:>2 8B:;>=5=8O 2 A>AB>O=88 74>@>2LO, B>;L:> 10% H:>;L=8:>2 AG8B0NBAO >B=>A8B5;L=> 74>@>2KA?8B0;870F89 ?@>8AE>48B >B ;5:0@AB25==KE >B@02;5=89, 4> 15% C25;8G820NBAO A@>:8 ;5G5=8O MB8E ?0F85=B>2!ABL C25;8G8;0AL 2 4 @070, @>6405ABL C?0;0 2 2 @0705B0;L=K9 8AE>4 >B ?@88AE>48B G0I5, G5B 4>@>6=>-B@0=A?>@B=KE ?@>8AH5AB289 8 @0:0> ?@>4>;68B5;L=>AB8 687=8 >AA8O 70=8<05B:5=I8=K  100 ; <C6G8=K  134 ; !ABL >B ;5:0@AB25==KE >B@02;5=89 ?>4=O;0AL =0 4  2 >1I59 AB@C:BC@5 AAB8 =0A5;5=8O @0728BKE AB@0=K2>4: #@>25=L D8=0=A8@>20=8O =5 O2;O5BAO >?@545;ONI8E@0=5=88 8 C:@5?;5=88 74>@>2LO.K2>4: ;O ?>2KH5=8O C@>2=O MDD5:B82=>AB8 74@02>>E@0=5=8O =5>1E>48 =5 B>;L:> C25;8G5=85 C@>2=O D8=0=A8@>20=8O, => 8 A8AB5<=K5 87>E@0=5=88.@8;>65=85 !2 @8;>65=85 ! 3" "/ " &  ,/' "&/ &/" '!--'!" '!--'!/" '!/- $ &/!%- &,/'!  #+ !> A8AB5;5@0=B=>3> 74@02>>E@0=5=8O!;>682H0OAO 2 ?5@8>4 @5D>@<K A8AB5>E@0=5=8O O2;O5BAO A8AB59 872;5G5=8O ?@81K;8, 0 =5 ?>2KH5=8O C@>2=O 74>@>2LO =0A5;5=8O.!B@C:BC@0< A8AB5>E@0=5=8O M:>=>4=> =0@0AB0=85 =530B82=KE B5=45=F89 2 74@02>>E@0=5=88: 5ABL 2>76=>ABL ?>;CG0BL 2A5 1>;LH5 8 1>;LH5 1N465B=KE A@54AB2.5G51=>-?@>D8;0:B8G5A:8< CG@5645=8O4=> @>AB 701>;5205AB8 8 A>>B25BAB25==> 70?>;=5=85 :>9:>-76=>ABL ?>;CG8BL 1>;LH5 45=53 >B 1N465B>2 8 $!.#G0AB=8:0< D0@3> @K=:0 2K3>45= =5 B>;L:> @>AB 701>;5205AB8, => 8 C4>@>60=85 @K=:0 ;5:0@AB25==KE A@54AB2. 5 A;CG09=> =0 @K=:5 4>@>385 8@B=K5 ;5:0@AB20. "0:81@07>, GB> 2K3>4=> -D0@9 A8AB54=> >1I5AB2C 8 3>AC40@AB2C. 07=>=0?@02;5==>ABL 25:B>@>2 8=B5@5A>2 =5 ?>72>;O5B >15A?5G8BL MDD5:B82=CN A8AB5>E@0=5=8O. #AB@0=5=85 A8AB53> :@878A0 74@02>>E@0=5=8O 2>76=> B>;L:> G5@57 D>@20=85 =>2>9 A8AB5>E@0=5=8O, >;8F5B2>@ONI59 8=B5@5AK 8 >1I5AB20, 8 3>AC40@AB20. ?B8<0;L=K9 B5F80;L=>-M:>=>3> @0728B8O 8 2KA>:89 C@>25=L 74>@>2LO =0A5;5=8O @50;87C5BAO G5@57 >@30=870F8>==>-M:>=><8G5A:CN 45;L A8AB5;5@0=B=>3> 74@02>>E@0=5=8O, B.5. A8AB5E@0=K 74>@>2LO, >15A?5G820NI59 =5>1E>4825=L 70I8BK 8 C:@5?;5=8O 74>@>2LO A F5;LN 040?B0F88 >@30=87<0 : 87<5=5=8O< 2=5H=59 A@54K. !8AB5;5@0=B=>3> 74@02>>E@0=5=8O, 8=B53@8@CNI0O 4>AB865=8O :>=25=F8>=0;L=>9 8 =5:>=25=F8>=0;L=>9  5AB5AB25==K9 ?CBL @0728B8O 74@02>>E@0=5=8O, :>B>@K9 ?>72>;8B 3;C1>:> 8 2A5AB>@>==5 ?>7=020O >@30=8725:0 :0: 548=CN A8AB565 2@54=>9 F5;>AB=>AB8, =0E>48BL 8 A>25@H5=AB2>20BL 5AB5AB25==K5 4;O >@30=87<0 4K 2>7459AB28O, >15A?5G820NI85 30@=870F8N 18>?@>F5AA>2. !8AB5;5@0=B=>3> 74@02>>E@0=5=8O 8AE>48B 87 A;54CNI53>: >-?5@2KE: @30=87< O2;O5BAO 2708>1CA;>2;5==>9 8 2708459AB2CNI59 F5;>AB=>ABLN :0: 2=CB@5==8E 18>D878G5A:8E, 18>E8-8=D>@==KE ?@>F5AA>2, B0: 8 2=5H=8E D0:B>@>2 2>7459AB28O.>-2B>@KE: =B53@0F8O @07;8G=KE 4>2 8 A@54AB2 :>@@5:F88 74>@>2LO O2;O5BAO 5AB5AB25==K< ?CB5>E@0=5=8O.-B@5BL8E: @>D8;0:B8:0, ;5G5=85 8 @5018;8B0F8O O2;ONBAO G0ABOAB=>9 A8AB5>E@0=5=8O.@8@>4=0O A@540, G0ABLN :>B>@>9 O2;O5BAO 8 >@30=87 70:>=020B5;L=>, =5 B>;L:> 4K ;5G5=8O 8 A?>A>1K 2>7459AB28O =0 >@30=87;6=K 1078@>20BLAO =0 MB8E 70:>=0E, => 8 >@30=870F8>==>-M:>=><8G5A:0O 45;L A8AB5;5@0=B=>3> 74@02>>E@0=5=8O 4>;6=0 1078@>20BLAO =0 MB8E 65 70:>=0E.>45;L A8AB5;5@0=B=>3> 74@02>>E@0=5=8O, :0: ;N10O 5AB5AB25==>-?@8@>4=0O 45;L, 8@<C (A8AB5@30=870F88), B0: 8 A>45@60=85 (8=B53@0B82=K5 <548F8=A:85 48:8). >MB>B:5 8 @50;870F88 45;8 A8AB5;5@0=B=>3> 74@02>>E@0=5=8O 4>;6=K ?@82;5:0BLAO :0: A?5F80;8ABK 2 >1;0AB8 >@30=870F8>==>-M:>=>3> 45;8@>20=8O, B0: 8 ?@54AB028B5;8 0:0459 A>D8N 8=B53@0F88 <548F8=A:8E 48:. :BC0;L=>ABL 8 =5>1E>48ABL D>@20=8O A8AB5;5@0=B=>3> 74@02>>E@0=5=8O >G5284=0, ?>MB>1E>48 3@0640=A:>5  =0G0BL @5H0BL MBC :><?;5:A=CN 3>3@0==CN 7040GC  7040GC ?5@52>40 74@02>>E@0=5=8O =0 5AB5AB25==K9 ?@8@>4=K9 ?CBL @0728B8O. ;O MB>3> B@51C5BAO: 07@01>B0BL 8 CB25@48BL >=F5?F8N =>2>9 A8AB5;5@0=B=>3> 74@02>>E@0=5=8O 1078@CNI59AO =0 70:>=0E 2A5>1I53> @0728B8O 8 >15A?5G820NICN <8=82=O 701>;5205AB8 8 <0:A84>;68B5;L=>AB8 687=8 =0A5;5=8O. 07@01>B0BL 8 CB25@48BL >@30=870F8>==>-M:>=><8G5A:CN 45;L A8AB5;5@0=B=>3> 74@02>>E@0=5=8O. 07@01>B0BL 8 ?@8=OBL A2>4 A8AB5>1@07CNI8E 70:>=>2 A <5E0=87B0BL 8 CB25@48BL :@8B5@88 MDD5:B82=>AB8 45OB5;L=>AB8 AB@C:BC@ A8AB5;5@0=B=>3> 74@02>>E@0=5=8O. 07@01>B0BL 8 CB25@48BL <5E0=87=B@>;O 8 >B25BAB25==>AB8 70 A2>52@55 ?>;=>5 8 :0G5AB25==>5 8A?>;=5=85 70:>=>2 8 @5H5=89 @028B5;LAB20 $.57CA;>2=>, 5ABL 8 4@C3>9 ?CBL @0728B8O 74@02>>E@0=5=8O: MB> ?@>4>;60BL A>25@H5=AB2>20BL 459AB2CNICN A8AB5>E@0=5=8O. > MB>B ?CBL, 2 4>;3>A@>G=>< ?;0=5, =5 8B>, >1@07=> 3>2>@O, 87 70?>@>6F0 =5 2>76=> A45;0BL 1 M:>=>< <5E0=8715A?5G820NI52K3>4=>ABL B>@3>2;8 D0@<?@5?0@0B02KE 3@C??(* ( * P "$t &*j!,!&2&|,,/022525::<<*h5CJ\ hCJhB*CJaJphhB*CJaJph hpCJ hCJhh5CJ \aJh5CJ \h5CJ \mH sH /*zP   "$rt  ^^h^h \^`\ & F $ & Fa$$a$*x  !"""F####&()(+*+|,///81:1444 & F^ & F h^h & F ,^, & F4588:<<<<< >2>~>>?Z?$u&P#$/If$$u&P#$/If`a$$a$6 `6  & F ^h^hZ?? @@@zAzwkd$$Ifl0~76Pu0764 la$u&P#$/IfzA|AABzz$u&P#$/Ifwkd$$Ifl:0~76Pu0764 laBBNCBDzz$u&P#$/Ifwkdx$$IflL0~76Pu0764 laBDDD$EEzz$u&P#$/Ifwkd4$$Iflh0~76Pu0764 laEEFF8Gzzz$u&P#$/Ifwkd$$Iflh0~76Pu0764 la8G:G"H$Hww$u&P#$/Ifzkd$$Ifl4h0~76Pu0764 laf4$H&HHJww$u&P#$/Ifzkd$$Ifl4h0~76Pu0764 laf4JJJ>J@JBJDJFJHJJJLJNJPJrpnnnnnnnn $|)^`|)a$$a$zkdV$$Ifl40~76Pu0764 laf4 J J>J@JJJJJ<<<<<kdx$$Iflֈ_D$064 la1LLLLLLLLLLLLLLMTMVM`NOQDSTUW.[0[[[F]`$a$$a$F]4>;605BAO B5=45=F8O 2K3> 0AA>@B8<5=B0 ;5:0@AB2 A D0@3> @K=:0. #45;L=K9 25A 4>@>38E, 2 >A=>2=>< 8@B=KE ;5:0@AB2, A>AB02;O5B C65 1>;55 75 % D0@3> @K=:0. 0==0O B5=45=F8O, 2 CA;>28OE =54>AB0B>G=>3> D8=0=A8@>20=8O 74@02>>E@0=5=8O 2545B : 40;L=59H5ABC?=>AB8 :0G5AB25==>3> ;5G5=8O, ;>68BAO A5@L57=K< 1@5<5=5@>3>287=0 ;5:0@AB2 2545B : 40;L=59H52KH5=8N C@>2=O 701>;5205AB8 8 A=865=8N ?@>4>;68B5;L=>AB8 687=8 =0A5;5=8O.0 ?>A;54=85 45AOBL ;5B C@>25=L >1I59 701>;5205AB8 =0A5;5=8O 2>7@>A =0 32,1 %. @>4>;68B5;L=>ABL 687=8 A=878;0AL C 40, 65=I8= =0 2,7. @8 MB>;O CG57@0AB5 ?>2KA8;0AL 4> 29 %.654=52=> =5 2KE>48B =0 @01>BC >:>;> 3,0 AA8O= 8 20-25 4OBAO =0 @01>B5 2 ?@54 8;8 ?>AB1>;57=5==>AB>O=88, 65 % H:>;L=8:>2 8B:;>=5=8O 2 A>AB>O=88 74>@>2LO. 0 ?>A;54=85 5 ;5B 5653>4=>5 ?@52KH5=85 G8A;0 C482H8EAO A>AB02;O5B >:>;> 800.0 BKA. G5;>25:.57CA;>2=>, ?@>1;5>E@0=5=8O =5>1E>48 @5H0BL :>, => =C6=K 8 :>=:@5B=K5 157>B;030B5;L=K5 H038. "0:8=:@5B=K20==KE B>@3>2KE =0F5=>: (G5;LH5 >?B>20O F5=0 ?@5?0@0B0, B5F5=B =0F5=:8) =0 D0@4C:F8N 8 A>740=85, B0:81@07>=>3> <5E0=8715A?5G820NI53> @02=>2K3>4=>ABL B>@3>2;8 D0@<?@5?0@0B02KE 3@C??.0==K9 M:>=><8G5A:89 <5E0=87AB0=>28B 2K3> 0AA>@B8740AB B5=45=F8N : A=865=8N >?B>2KE F5= C ?@>872>48B5;59 ?@5?0@0B>2 70 AG5B A>:@0I5=8O =5?@>872>48B5;L=KE 70B@0B 8 8A?>;L7>20=85 =5 4>@>38E ?@8@>4=KE AC1AB0=F89 2  4>@>38E A8=B578@>20=KE;:B82878@C5B 8=>AB@0==K5 D8@ A>740=8N D0@872>4AB2 =0 B5@@8B>@88 >AA88.A5 MB> 2 :>=5G=>35: !=878B C45;L=K9 25A AB>8AB=>9 ;5:0@AB25==>9 A>AB02;ONI59 2 74@02>>E@0=5=88 >AA88;15A?5G8B @0728B85 @>AA89A:8E D0@872>48B5;59;5@5>@85=B8@C5B ?@>872>48B5;59 >B D0@<A@54AB2 4;O ;5G5=8O, =0 D0@D8;0:B8:8 701>;520=89.@8 MB>;O @>AA89A:8E ?@>872>48B5;59, ?@>872>4OI8E 1>;55 45H52K5 ;5:0@AB20, 1C45B ?>AB>O==> 2>7@0AB0BL, GB> ?>72>;8B C25;8G820BL 4>E>4=CN G0ABL 1N465B0. @>3>, 2>7=8:05B B5=45=F8O : A=865=8N D0;LA8D8:0B>2 =0 D0@445;K20NB, 2 >A=>2=>@>385 ?@5?0@0BK. " "+  ,+% " +% A CG5B>2KE 3@C?? 2>2>9 3@C??K80?07>= 872>9 ?>43@C??KB?CA:=0O F5=0 ?@>872>48B5;O157 CG5B0 !(@C1. 70 >4=C C?0:>2:C)@545;L=0O B>@3>20O =0F5=:0(4> %)>E>4 >?B>2>-@>7=8G=>9 A5B8(@C1. 70 >4=C C?0:>2:C)1100 8 2KH5555 8 2KH5501050-11001000-1050950-1000900-9504.885.125.385.6750-5545855-900810-855765-810720-7655.415.706.036.3945-5040680-720640-680600-640560-6006.076.436.857.3240-4535525-560490-525455-490420-4556.917.387.938.5735-4030390-420360-390330-360300-3308.028.669.4210.3130-3525275-300250-275225-250200-2259.5610.4711.5712.9425-3020180-200160-180140-160120-14011.8413.2315.0017.3020-2515105-12090-10575-9060-7515.5517.9421.2125.9215-201050-6040-5030-4020-3022.7227.7735.7150.0010-15515-2010-155-1042.8560.00100.005-10=865 5100.004> 5@8<5G0=85: @54;0305=><8G5A:89 <5E0=8720=8O @>7=8G=KE F5= ?>72>;8B ?@5:@0B8BL 2K3> 0AA>@B8<5=B0 2, A>E@0=OO 2>76=>ABL @K=>G=>3> 2>9 3@C??K, B0: 8 <564C 3@C??048BAO 2 A>AB>O=88 E>;>4=>9 2>9=K 8=B5@5A>2, :>B>@K5 70G0ABCN, ?@8>1@5B0O 0=B03>=8AB8G5A:89 E0@0:B5@, ?5@5E>4OB 2 2>9=C 3>@OGCN.0:>?;5==K5 G5;>25G5AB2>72>;ONB A>740BL =>2CN 45;L CAB@>9AB20, :>B>@0O ?>72>;8B =5 4>2>48BL ?@>B82>@5G8O @0728B8O 4> 0=B03>=8AB8G5A:8E, ?CB5740=8O 5AB5AB25==>-?@8@>4=>9 A8AB5<K A0>@30=870F88, A0A>25@H5=AB2>20=8O 8 A0@0728B8O. 0==0O A8AB5740=85 CA;>289 4;O A2>52@53> @07@5H5=8O ?@>B82>@5G89, ?>72>;8B D>@20BL 1>;55 A>25@H5==K9 8 30@=8G=K9 @20=85 30@=8G=>9 45;8 CAB@>9AB20 2>76=> ?CB5?KB0 ?> >1I5AB25==>-3>AC40@AB25==>9AB2C, 2 :>B>@>9 >1I5AB2> 8 3>AC40@AB2>, O2;OOAL 480;5:B8G5A:>9 ?0@>9, 2708459AB2CNB 2 A>3;0A88 A 70:>=01I53> @0728B8O, 70:>=0<8 480;5:B8:8.708>1CA;>2;5==K5, 2708459AB2CNI85, 2708@072820NI85AO A>AB02;ONI85 F5;>AB=>3> <8@0 O2;ONBAO 480;5:B8G5A:8<8 ?0@0B=K9 2=>5 8 5, ?>;8B8:0 8 M:>=>872>48B5;L=K5 A8;K 8 ?@>872>4AB25==K5 >B=>H5=8O, A8;K A25B0 (A>7840=8O) 8 A8;K BLF5AA5 2708459AB28O D>@@K. 708459AB285 @57C;LB8@CNI8E 25:B>@>2, 2 :>=5G=>35, D>@@ @0728B8O, A>740NI89 >1ICN =0?@02;5==>ABL @0728B8O 2A5E A>AB02;ONI8E 480;5:B8G5A:>3> ?@>F5AA0 ?> 2>AE>4OI59, @0AH8@ONI59AO 42>9=>9 A?8@0;8. 80;5:B8G5A:89 ?>4E>4 : @0AAB@5=8N 8 0=0;87C ?@>F5AA>2, ?@>8AE>4OI8E =0 A>2@525G5AB20, ?>72>;O5B A45;0BL 2K2>4 > =07@52H59 =5>1E>48AB8 M2>;NF8>==>3> ?5@5E>40 G5;>25G5AB20 =0 =>2K9 :0G5AB25==K9 MB0? A2>53> @0728B8O: A0A>25@H5=AB2>20=8O 8 30@=8G=>3> @0728B8O, 157 @52>;NF8>==KE ?>B@OA5=89.@>3@5AA82=> 1I5AB25==K5 8 3>AC40@AB25==K5 45OB5;8 38E AB@0= >701>G5=K ?>8A:>< 45;59 30@=8G=>3> 2708459AB28O 8 2708@0728B8O 2A5E 8 :064>3>. @54;030NBAO, :0: ?@028;>, =5 A8AB5:0;L=K5 B>@K5, :0: >=8 ?>;030NB, 3CB 87<5=8BL <8@ : ;CGH5;L:> G0AB8G=> CG8BK205BAO 480;5:B8G5A:0O 27087028A8ABL G0AB=>3> 8 >1I53>. A>2@5< F5AAK 8 8=B5@5AK @07=KE AB@0= ?@8>1@5;8 3;>10;L=K9 E0@0:B5@, ?>MB><C 2708459AB2CNI85 A>AB02;ONI85 F5;>AB=>3> 1E>48 @0AA2>:C?=>ABL 3>AB>@>==8E 8=B5@5A>2: 4CE>2=KE 8 ?>;8B8G5A:8E, ?>;8B8G5A:8E 8 M:>=>=>F80;L=KE, A>F80;L=KE 8 M:>;>38G5A:8E.>MB>2@53> MB0?0 @0728B8O G5;>25G5AB20 O2;O5BAO D>@20=85 A59 4>:B@8=K (3> @0728B8O, B.5. @0728B8O 2 A>>B25BAB288 A 70:>=0>B25BAB28O 8 A>3;0A>20==>AB8 25:B>@0 480;5:B8G5A:>3> @0728B8O ?@8@>4K 8 25:B>@>2 CAB@54>2 (AB@0=) =>2 2A5>1I53> @0728B8O 8 5ABL A0ABL 4;O 40;L=59H53> @0728B8O G5;>25G5AB20.57CA;>2=>, 4> B0:>9 2KA>BK ?>=8AB=>3> 740=8O 4>;6=K 4>9B8 ?>;8B8:8 254CI8E 2KE 45@602. > >=8, :0: ?@028;>, =0E>4OBAO 2 ?;5=C 8=B5@5A>2 A>1AB25==KE AB@0= 8 B@0=A=0F8>=0;L=KE AB@C:BC@, GB> ?>4B0;:8205B 8E : ?@5=51@565=8N 8=B5@5A0AB5= 8 :0: 2 ;N1>9 F5;>AB=>9 A@545, =5AB@O =0 =0;8G85 3>AB>@>==8E G0AB=KE 8=B5@5A>2, ACI5AB2CNB >1I85 8=B5@5AK. 1I8< 4;O 75@20=85 30@=8G