CENTRO DE INVESTIGACIONES Y ESTUDIOS SUPERIORES EN ANTROPOLOGÍA SOCIAL

HOMBRES VIOLENTOS

REPRESENTACIONES Y PRÁCTICAS MASCULINAS SOBRE EL PADECIMIENTO Y EL EJERCICIO

DE LA VIOLENCIA

T E S I S

QUE PARA OPTAR AL GRADO DE

MAESTRA EN ANTROPOLOGÍA SOCIAL P R E S E N T A

LUCÍA GÓMEZ LVOFF

DIRECTORA DE TESIS: DRA. DRA EUGENIA ALLIER MONTAÑO

MEXICO, D. F. DICIEMBRE DEL 2012

AUSENCIAS PRESENTES LOS CASOS DE TRES MUJERES

FAMILIARES DE DESAPARECIDOS POLÍTICOS MEXICANOS EN EL MARCO

DE LA ORGANIZACIÓN POLÍTICA: Reconstrucciones, transformaciones y

continuidades

!

!"#$%&'(")*+'",-%'.&'("/'%0.12."3"45'.6"

"

7-*"85"9*080.1':$;.6"

!"%-8"<'+$%$'*08"3"858"%5:='8"$.&$>$&5'%08""3":-%0:1$>'86! "

"#$"%&'()(&*+,-!

!

"! !$:0%'.! ?-@'" A03.'.! ?-@'" !:0%'" /! 7*$8:$%'.! 012! 3145! 65! 54789508:2;! #95085<! =19! 65!012>852?5.!=19!4@A597@!@23959!/!017=59389!<B<!C8<31985<!4@!41619.!=@91!357D8E2!4@!>B@9?5!/!6B0C5!82017=595D6@<;!

"! B'*'.! @A@7=61! 4@! >B@9?5! /! 6B0C5.! =19! @6! 5=1/1;! #95085<! =19! 012>859.! 3952<78389.!!19!3141!@6!0598F1;!!

"! 1-&'8" %'8" ?-@'8" &0%" C-+$1D" EF5*0G'H! =19! <@9! B21! 4@! 61<! @A@7=61<! 4@! @23@9@?5.!=@9<8<3@2085.! !

"! #6)646I6B6JKDL$:-G! H95085<! =19! 3141! @6! 5=9@248?5A@I! =19! 4@A597@! @23959! /! 01210@9! B2!7B241! @2! @6! JB@! 65<! C8<31985<! 4@! 41619.! @6! 017=9178<1.! 65! 6B0C5.! 65! =16K3805.! 65!9@<=12<5D868454.! 65! L56@23K5! /! 65! =@9<8<3@2085! 21! <12! @M06B/@23@<! 4@! 65! 09@538L8454.! 65!56@H9K5.!@6!D586@!!012! 35235! =5<8:2! C50@2! 3141<! 61<! 4K5<;! -1D9@! 3141.! H95085<! =19! 65! 578<354! /! =19! 35231!0598F1;!

"! F5M0.$'(! 78! 489@03195." =19! 3141! 61! 5=9@24841I! =19! @6! 5017=5F578@231.! @6! 5=1/1.! 65!N"'(&*'("!/!65!HBK5!5!61!659H1!4@!@<31<!O63871<!41<!5F1<;!!"!78<!6@03195<!=19!<B!48<=1<808:2!/!9@3915687@23508:2;!

"!K'*2'("=19!<@9!82<=89508:2I!=19!3141!61!JB@!<B=8<3@!3952<78389!/!017=59389.!/!=19!61!JB@!!N19!3B!578<354!8201248081256.!54@7P<;!

"! 65!017B28454!4@6!'(&-"-;!"!78<!017=5F@91<!/!578H1<!4@! 61<!JB@!5=9@24K!35231!/!JB@!

823@97825D6@;!&2!@<=@0856!5!61<!78@7D91<!4@!65!QNB2R/! S=19!65!017=6808454!6@2HB5A@95.!578<354!@2395F5D6@.!65!<1684598454.!H@2@91<8454!/!017=5F@98<71S.!@6!$BDK!/!@6!

<TI!5!65!U@91!/!@6!&6K5<!V"685<!U;T!=19!35231!5=1/1!/!=19!65<!4@<L@6545<!HB@99@95<I!56!*801!=19!@6!0598F1.!65!7O<805!/!@6!017=5F@98<71I!5!65!"249@K35!=19!<B!578<354!4@!35231<!5F1<I!5!#95!=19! <@9!78!017=5F@95!8201248081256!4@!<B>9878@231!/!=19!C50@97@!<5D@9!JB@!21!@<35D5!<165I!5!)5935!V<82! C T!=19!65!DB@25!L8D95!/!@6!5=1/1!QH91B=8@<01QI!56!+199@23@95!=19!65<!065<@<!4@!=568 !

"! N-*0.'.! 017549825.! 0:7=680@! /! 3141;! W83@9567@23@! >B8<3@!78! 017=5F@95! /!7138L508:2!3@<K<3805!7P<!87=193523@;!+O.!$53?8@.!65!,>80825.!65!=91095<382508:2!/!65!6@23@A5!>B@912!=593@!>B2457@2356!4@!@<3@!=910@<1;!

"!78!>578685G!

"!65!+'+O"P$.M$.!5=1/1!8201248081256!4@!3141!38=1!/!@2!3141!717@231;!#95085<!=19!3141I!=19! 65!=913@008:2.!=19!@6!0598F1.! 65!578<354.!65!012>852?5.! 65!017=9@2<8:2!/!W"!N"'(&*'("!82>82835;!&9@<!5!3145!7549@!7K5 !/!7@!<8@231!7B/!5>193B2545.!19HB661<5!/!5H954@0845!4@!3@2@93@!<8@7=9@!352!0@905;!

"!78!9'9O !<8@7=9@!=9@<@23@!@2!>1975!4@!7O<805;!

"!78<!C@97525<G!=19!017=59389!B25!C8<31985!7B/!2B@<395!4@!06591<0B91<!JB@.!012!B<3@4@<.!<@!9@0B@945!7P<!06595!JB@!1<0B95 !"!C*$8J31>@9.! 65!C@97525!75/19!JB@! <8@7=9@!5478959E!/! 65!578H5! 0123@7=19P2@5!012! 65!JB@!7@!48L@9389E;!XB@!7B/!D12831!/!<8H28>80538L1!=14@9!017=59389!V<82!759@<!4@!=19!7@481T!@6! O63871! A56:2;! #95085<! =19! 3141! 61! JB@!7@! /! 21<! C5<! 4541! @2! 35231<!717@231<.! =19!<8@7=9@!@<359!5CK!/!=19!017=59389!5!3B!,=@95!N9875!S352!@M831<57@23@!09@545S!/!JB@!7@!45!@6!@2197@!=650@9!4@!10B=59!@6!@<353B<!4@!3K5!19HB661<5!VH95085<!56!<1D9821!7595L8665!JB@!7@!38@2@!352!@25719545T;!!"! K'*$'.' ! @<=@A831.! @<=@A831I! 0:7=680@! /! 017=5F@95! @2! V05<8T! 3141<! 61<! 9BD91<I! 78!<@HB245!V1!=987@95T!L1?;!V"!L@0@<!21!<E!<8!@9@<!3O!1!3B!C@97525 T;!!&<!B2!19HB661!<@9!=593@!4@!65<! Y398555553@<Z !V/0$.10"+$%%'8!9@0199845<;;;T;!

"!61<!0BF541<.!K5.&-!/!Q0&0.!JB@!<12!/5!>578685.!<1=193@.!578H1<!/!0:7=680@<;!!

"!65!P-+$R'.!=19!<B!B28:2.!>B@9?5!/!05=508454!4@!012L@9389!61!7P<!54L@9<1!@2!7O<805;!N19!35235!56@H9K5.!610B95.!H@28568454!/!+S8$:'.!/!=19!@6!<5D@965<!012<@9L59!/!017=59389!5!=@<59!4@! 3141;! &<35! 3@<8<! L5! 4@480545! 012! @<=@0856! 0598F1! 5! [1R8R1 .! 56! JB@! <8@7=9@! 6@!052359@71<;!

"!61<!T-%UG!56!+813831.!=19!C5D@93@!012L@93841!@2!61<!O63871<!5F1<!@2!B25!>8HB95!JB@!9@O2@!0B568454@<!4@!=549@.!=549821!/!578H1;!"!65<!=9875<!JB@!0545!4K5!<12!7P<!578H5<;!

!

"!B='*U0%.!=19!35235<!<19=9@<5<!68<3835<!/! <1=1938L5< ;!XB@!B25!4B60@!@!82@<=@9545!>1975!4@!0@9959!B2!08061!/!4@!@7=@?59!1391!2B@L1 !

"! 65<!C@9752835<!B257835<!V-59/5.!"249@5!/!)59K5T;!#95085<!=19!35235<!98<5<.!D586@<!/!=19!017=59389!B25!>1975!4@!L@9!@6!7B241 !=19!3141!61!JB@!C@!5=9@24841!012!B<3@4@<;!

"!3141<!012!JB8@2@<!C@!5=9@24841!5!L8L89!/!48<>9B359!65!7O<805!4@!B25!B!1395!>1975G!!"!61<!V-88'.;.$+-8"V#5D1.!+@661.!N@=@!/!)598525T.!=19!@6!=650@9!4@!017=59389!5<K!65!7O<805!/!65!L845;!"!P58"/!4'>$.!=19!@<5!82012480812568454!/!C@9752454!JB@!21!@<!352!B<B56!=14@9!

012<39B89!@2! 352!=101!38@7=1;!"!U65.!=19!<@9!+'081*-!@2! 35231<!<@23841<.!5!\8365!=19!<@9!+'081*'!@2!1391<!35231<!<@23841<I!5!61<!'5750C1!/!61<!]B9541!=19!35235<!7O<805<!/!=19!<@9!/5! >578685;! "! 61<! 0C801<! 4@6! 0191G! 'C"6@.! W19@.! ]5L8! /! "6@.! =19! 35235! 7O<805.! 0598F1! /!48L@9<8:2! V=19! @6! 2545! 21<! 87=1935 T;! "! 65<!?$'9'8$1-" V)58.! '@08! /!)598525T! =19! 35235<!98<5<!7B<8056@<;!

"!61<!B5$R-8G!5!61<!JB@!@<35241!566P.!@<3P2!50P!V61<!=9871<!]B52!/!^@31T;!!"!61<!JB@!@<35241!50P !<8HB@2!@<35241!50P!4@<=BE<!4@!35231<!5F1<!/!012!61<!JB@!21!7@!052<1!4@!48L@93897@!4@!752@95<!352!48<38235<!/!352!253B956@<!V$80C594.!N@491.!+128.![59@6 T;!

"! 61<! 578H1<! @2395F5D6@<! 4@6! WB0C5Q<! _1B<@! V/! 52@M1<T! JB@! <8@7=9@! 10B=59P2! B2! 6BH59!@<=@0856;! "!7'U%-! V/! >578685T! =19! 35235! C8<31985.! 017=6808454.! 0598F1! /! 5=9@248?5A@;! "! 61<!*@2@< !VN1661!/!*525T!/!)80C8<!=19!35235! DB@25!124@? !/!<820@91!0598F1;!!

!"#!$%&

&

!"'()#*$$!+"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"#"

"$,-.'*/)&0&

12343&56783986&:;<8=2;56&

$%&&'&()*'"+%",)-.+'"%/"012(3'4"5(/.6%)"+%"6')"78"9":&(/3(:(')"+%"6')";8!!!!!!!!!!!!" #<"

"

!"#$%"&"'()*"#+,#%"#),$),-./0111111111111111111111111111122# ==#

#

"3 !"#45,)).%%"#)5)"%#111111111111111111111111111111>!!" ==#

63 !"#45,)).%%"#5)6"0"1111111111111111111111111111112!" =?#

#

!"#7.(%,08."#+,#9-&"+(#,0#:;<.8(>>>>>>>>>>>>>>>>>>>>>>>>>>>" @A##

!"#+,-"$").8./0#'()="+"#+,#$,)-(0"->>>>>>>>>>>>>>>>>>>>>>>>!!" @?"

!"#),-$5,-&"#"#%"#+,-"$").8./0#'()="+"#+,#$,)-(0"->#%(-#'"*.%."),-?#05,7(-##

"8&(),-#-(8."%,-#>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>!!!!!" BA#

!"#),-$5,-&"#"#%"#+,-"$").8./0#'()="+"#+,#$,)-(0"-#,0#:;<.8(>>>>>>>>>!!!" B?#

@.-&()."#+,#.08"0-"6%,-#%58A"-#7-#A.-&()."#+,#.*$50.+"+#B%(4)(-#C#')"8"-(-3>>!" A#"

!"#D5-&.8."#C#,%#8(0(8.*.,0&(#+,#%"#7,)+"+#,0#:;<.8(#1111111111111112!" A7#

"

$,-.'*/)&>&&

%?&@A7B6&B3&4;BC&!"#$%&B3&?C&B3<CDC2;5;=7">>>>>>>>>>>>>>>>>>>!!!!!!"7="

"

E2F2 G),-#HI(J"-K#+,%#L(*.&;#M95),N"O>#

#PQ5.;0,-#-(0#R8,%"?#S,C0"#C#R.8,%"T222222222222222222222222222222222222222222222222222222!" 7@#

#

E2E2 #U"*.%."#C#V(%W&.8"#111111111111111111111111111122222222# ;##

E2E2F2 !"#'"*.%."?#%(#$).7"+(?#%(#$X6%.8(#C#%(#$(%W&.8(>##

PY*6.&(-#,<8%5C,0&,-T22222222222222222222222222222222222222222222222222222222222222222222#;A#

E2E2E2 !"#'"*.%."#C#%"#"*$%."8./0#,-$"8."%##

+,#%(#$(%W&.8(111111111111111122222222222222222222222222222222222222222#;<#

E2E2Z2 !"-#),%"8.(0,-#+,#$(+,)#"%#.0&,).()#+,#%"#'"*.%."##

BA,4,*(0W"#C#-5-#+.-$5&"-3222222222222222222222222222222222222222222222222222222222222# <##

E2E2Z2F2 #!"#'"*.%."#C#,%#4)5$(#+(*;-&.8(1111111111111222222#<@#

E2E2Z2E2 V"+),-[A.D(-?#A(*6),[*5D,)>#),%"8.(0,-#+,#$(+,)##C#"

'508.(0,-#+,0&)(#+,#%"#'"*.%."#,0#-(8.,+"+,-#C##

85%&5)"-#$"&).")8"%,-11112222222222222222222222222222222222222222222222222#<;#

E2E2Z2E2F2 !"#*5D,)#,0#%"#'"*.%.">#P*.+&%):').T2222222222222222222# #8=#

"3 !"#+.7.-./0#+,%#&)"6"D(#C#%(-#+,6,),-T222222222222222222222222222222222222222# #8=#

63 9+58"8./0111111112222222222222222222222222222222222222222222222222222222222222##8?#

83 !"#*5D,)?#*"&,)0.+"+#C#%"#'.45)"#+,#%"#*"+),-$(-"111122222# #8<#

+3 R%450"-#8(08%5-.(0,-#),-$,8&(#"#%"#*"&,)0.+"+#C#,%#$"$,%##

+,#*"+),-$(-"1222222222222222222222222222222222222222222222222222222222222222222222222###<#

#

E2E2Z2E2E2 9%#A(*6),#,0#%"#'"*.%.">>>>>>>>>>>>>>!!!!!" #=##

E2E2Z2Z2 !"#&,)).&()."%.+"+111111111111112222222222222222222222222222##=A"

"$,-.'*/)&E&&

FAGH38;4;BCB&I&D6?J8;5C">>>>>>>>>>>>>>>>>>>>>>>>>>>>!!!!!!!!!!!!!!"#=<""

#

Z2F !"#+,-"$").8./0#'()="+">#50#*50+(#+,#7.+"#&)"-&(8"+(2##

H\"+"#7(%7./#"#-,)#8(*(#"0&,-1K#11111111111111111111222222##=<#

Z2F2F 9%#.0.8.(#+,%#8"*.0(>#%"#6X-]5,+"#.0+.7.+5"%#>>>>>>>>>>>>!!!!" #@=##

Z2F2E M95),N"M>##50#05,7(#8"*.0(2#H\(#,-&Y0#-(%"-1K#>>>>>>>>>!!!!!!" #@A#Z2F2Z !(-#$).*,)(-#(6-&Y85%(-#,0#,%#8"*.0(>##

P,0,*.4(-#H.0&,)0(-K#(#H,<&,)0(-KT#>>>>>>>>>>>>>>>>>>>>!!!"#@;"

.C D."3'%&3(E/"3'*'"5'&*."+%"3'/-&'6">>>>>>>>>>>>>>>>>>!!!!"#@;"

FC D."3&(*(/.6(G.3(E/"+%"6."6H3I.")'3(.6">>>>>>>>>>>>>>>>>>!!!"#B@"

3C ,)-(J*.)K"%236H)('/%)K"+(L()('/%)">>>>>>>>>>>>>>>>>>>>!!"#B7"

+C ,6"I'J.&M6."3.)."3'*'"H/"%):.3('")%JH&'4"H/."*%&."(6H)(E/">>>>>" #B<"

"

Z2E M95),N"O#^0#05,7(#*50+(#+,#7.+">#50#05,7(#-,0&.+(">>>>>>>>>>!!!!"#A=#

Z2E2F 9%#-.0-,0&.+(#8(6)"#-,0&.+(#>>>>>>>>>>>>>>>>!>>>>>!!!!!!"#A=#

Z2E2E HM_.7(-#%(-#%%,7")(0?#7.7(-#%(-#]5,),*(-OK>##

+,#%(#$).7"+(#"#%(#$X6%.8(#[#+,#%(#$X6%.8(#"#%(#$).7"+(#>>>>!!!!!!!!!!!!" #A7#

#

Z2Z :"&,)0.+"+>#$(+,)?#),-.-&,08."#C#$(%W&.8"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" #7##

@!@!# :"&,)0.+"+>#$(+,)#C#),-.-&,08."!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!# #7#"

"

Z2Z2E :"&,)0.+"+#C#$(%W&.8"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" #77#

#

"3 9D,)8.8.(#+,B-38(0-&)58&.7(#!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" #77#

63 R%450"-#'()*"-#+,#,0&,0+,)#%"#%58A"#C#-5-#.*$%.8"8.(0,-#"#0.7,%##

-56D,&.7(222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222##7;&

#

Z2` M95),N"O#>#^0#%54")#+,#),-.-&,08."-#C#05,7"-#-56D,&.7.+"+,-"!!!!!!!!!!!!!!!!!!!!" #;B#Z2`2F #Z#A.-&()."-#+,#),-.-&,08."-#!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" #;B#Z2`2E #\5,7"-#-56D,&.7.+"+,-#!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"#<@&

&$)"$/*F!)"%F&!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"#<7""

1!1/!)K(,L.,&!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"=8;"&

,"%M)&!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"=#7" "

&

#

"

1

NO$PQRSTTNUO&

"

D." +,-"$").8./0# '()="+"" +,# :%&)'/.)" %)K" +%).5'&-H/.+.*%/-%K" H/" -%*." L(J%/-%" %/" 6."

&%.6(+.+"*%2(3./.!"V(/"%*F.&J'K")H%6%"3'/)(+%&.&)%K":&(*%&'K"H/"5%/E*%/'"3.&.3-%&W)-(3'"

+%"'-&.)"6.-(-H+%)"XY&J%/-(/.K"TI(6%K"ZH.-%*.6.K"%-3!CK"/'"-./-'"&%:&%)%/-.-(L'"+%"%)-%":.W)"

[K")%JH/+'K".)'3(.&)%"."H/"5%/E*%/'"+%6":.).+'!"V(")%"I.F6."\)("%)"]H%"66%J."."I.F6.&)%9"+%"

6." +%).:.&(3(E/" 5'&G.+." %/" 012(3'" \[" /'" +%" 6." .)'3(.+." ." 6." ZH%&&." 3'/-&." %6" O.&3'9K"

5&%3H%/-%*%/-%" )%" &%+H3%" .6" :%&('+'" 3'/'3(+'" 3'*'" ^ZH%&&." VH3(._#K" HF(3.+'" %/-&%"

5(/.6%)"+%" 6')".`')")%)%/-."["*%+(.+')"+%" 6')"'3I%/-.!",)-.)".)'3(.3('/%)"%)-a/" 6%b')"+%"

)%&"+%6"-'+'"3(%&-.)!",5%3-(L.*%/-%K"%/":.W)%)"3'*'"Y&J%/-(/.K"TI(6%"["ZH.-%*.6."X:'&")E6'"

*%/3('/.&" .6JH/')" :.W)%)CK" %6" /c*%&'" +%" +%).:.&%3(+')" :'6W-(3')" 5H%K" .6" *%/')" %/" %6"

:%&('+'"+%"-(%*:'"*%/3('/.+'K"*H3I'"*.['&"]H%"%/"012(3'd""[K"%5%3-(L.*%/-%K"-.*:'3'"

:H%+%"/%J.&)%"]H%"%)-."*%+(+."+%"&%:&%)(E/")%"I.[." (/-%/)(5(3.+'"[")%"I.[."3'/L%&-(+'"

%/"012(3'"%/"H/.":&a3-(3.")()-%*a-(3.":'&":.&-%"+%6",)-.+'"%/"%)%"%/-'/3%)" X6.":&(*%&."

+%).:.&(3(E/":'&"*'-(L')":'6W-(3')"+%"6."]H%")%"-(%/%"&%J()-&'"5H%"%/"#<7<K"/'"]H%&(%/+'"

+%3(&" ]H%" ./-%)" /'" IHF(%&." I.F(+'" +%).:.&(3('/%)C!" V(/" %*F.&J'K" %)-'" /'" )(J/(5(3.K" :'&"

/(/Jc/" *'-(L'K" ]H%K" H/'K" %/" 012(3'" /'" I.[." %2()-(+'" %)-." :&a3-(3.K" [" +')K" ]H%" 1)-."

3'/)-(-H[." H/" I%3I'" +%6" :.).+'" %236H)(L.*%/-%!" ,/"*a)" +%" H/" )%/-(+'" )(JH%" -%/(%/+'"

L(J%/3(.4"+%)+%" 6.":&(*%.&"+%).:.&(3(E/"5'&G.+."&%J()-&.+."/'"I."I.F(+'"H/")'6'")%2%/('"

%/"%6"]H%"/'")%"I.[./":%&:%-&.+'"+,-"$").8.(0,-#'()="+"-"[K".+%*a)""9%)-'"3'/)(+%&'"]H%"

#" ^D."+%/'*(/.3(E/"eJH%&&.")H3(.f".6H+%".6"3.&a3-%&"(/5'&*.6"%"(&&%J6.*%/-.+'"+%6"%/5&%/-.*(%/-'"%/-&%"

%6":'+%&"*(6(-.&"g+%)6(J.+'"+%"6.".H-'&(+.+"3(L(6gK"3'/-&." 6."*()*.":'F6.3(E/"3(L(6"[" 6.)"'&J./(G.3('/%)"JH%&&(66%&.)K" ]H%" /'" 'F-HL'" %/" /(/Jc/" *'*%/-'" 6." 3'/)(+%&.3(E/" %2:6W3(-." +%" JH%&&." 3(L(6!" ,6" H)'")()-%*a-(3'" +%" 6." L('6%/3(." [" )H" %2-%/)(E/" 3'/-&." 'Fb%-(L')" 3(L(6%)" %/" %6" *.&3'" +%" 6." -'*." +%6" :'+%&":'6W-(3'" [" FH&'3&a-(3'" :'&" 6.)" hH%&G.)" Y&*.+.)K" +%-%&*(/E" 6." (/*%+(.-." )H):%/)(E/" +%" 6')" +%&%3I')" ["J.&./-W.)"3'/)-(-H3('/.6%)"[":&':(3(E"6.".:6(3.3(E/"+%"-a3-(3.)"[":&'3%+(*(%/-')"F16(3')"(&&%JH6.&%)"."-'+."6." :'F6.3(E/!_" XiaJ(/." j%F" kR%).:.&%3(+')!" Y&J%/-(/.lK" 3'/)H6-.+." %6" #=" +%" .J')-'" +%" =8#=C!" V(/"%*F.&J'K"%6"-1&*(/'"+%"^JH%&&._"%)"&%3I.G.+'":'&"'&J./(G.3('/%)":'6W-(3.)K"[."]H%")')-(%/%/"]H%"1)-%"%)"H/" .&JH*%/-'" :&'L%/(%/-%" [" H-(6(G.+'" :'&" 6')" J'F(%&/')" .H-'&(-.&(')" [" &%:&%)'&%)9:'&" 6.)" +(3-.+H&.)"*(6(-.&%)"%/"Y&J%/-(/.K":'&"%b%*:6'9":.&."bH)-(5(3.&"6."&%:&%)(E/"(/+()3&(*(/.+.!"D."+():.&(+.+"+%"LW3-(*.)"%)" H/'" +%" 6')" 5.3-'&%)" ]H%" I.3%" (/.+%3H.+'" 6." +%/'*(/.3(E/" +%" ^JH%&&._!" ,/"012(3'K" '&J./(G.3('/%)":'6W-(3.)" 3'*'"m(b')" :'&" 6." N+%/-(+.+" [" 6." nH)-(3(." 3'/-&." %6"Q6L(+'" [" %6" V(6%/3('" Xm!N!n!Q!V!C" [" %6" T'*(-1"o,H&%p.q" &%3I.G./K":'&"%)-.)"*()*.)" &.G'/%)K"%6" -1&*(/'"+%" ^JH%&&." )H3(._!" " ,/"%6":&%)%/-%" -&.F.b'" )%")%JH(&a/" %)-')" c6-(*')" .&JH*%/-')" [" )%" )H)-(-H(&a" %)-." c6-(*." +%/'*(/.3(E/" :'&" 6." +%" $%&&'&()*'" +%",)-.+'!""

"

2

%)"+%")H*."(*:'&-./3(.9K#6')"%5%3-')""+%"%)-%"3&(*%/"+%",)-.+'"%/"+13.+.)":.).+.)")(JH%/"

&%:%&3H-(%/+'" %/" 6." .3-H.6(+.+!" $&.-a/+')%" +%" H/" 3&(*%/"+%" ,)-.+'"+%" 6%)." IH*./(+.+"

.*$),-8).$&.6%,K" +%" 3.&a3-%&" 3'/-(/H.+'K" *(%/-&.)" %6" +,-"$"),8.+(# /'" "$"),=8"K" %)-."

.F)'6H-."-&.)J&%)(E/"." 6')"+%&%3I')"IH*./')" X+%" 6."L('6.3(E/"."H/" 6()-.+'"+%"+%&%3I')"["

J.&./-W.)" (/+(L(+H.6%)=C" )%" 3'/)(+%&." ]H%" )(JH%" 3'*%-(1/+')%" +(.&(.*%/-%!" ^D."

+%).:.&(3(E/"/'"%)"H/"I%3I'"+%6":.).+'K"%6"+'6'&")(JH%"L(J%/-%_"X!"#a()0"+"#,0#%W0,"?##?"

+%" +(3(%*F&%" +%" =88<C@4" %)-." .)%L%&.3(E/" %)" H/." +%" 6.)" 3'/)-./-%)" %/" 6')" +()3H&)')" +%"

5.*(6(.&%)"+%"+%).:.&%3(+')!"V("F(%/"6."3(5&."+%"+,-"$"),8.+(-#$(%W&.8(-#\+H&./-%"%6":%&('+'"

%/-&%" 6')" .`')" 78" [" ;89# :H%+." :.&%3%&" ^:%]H%`._" )(" )%" 3'*:.&." 3'/" '-&')" :.W)%)" +%"

Y*1&(3." D.-(/.B" XY&J%/-(/.K" TI(6%K" ZH.-%*.6.!!!CK" 6." (*:H/(+.+" ]H%" :%&*(-%" ]H%" )%" )(J."

+./+'"%)-."*%+(+."&%:&%)(L."3'*'":&a3-(3.")()-%*a-(3.K"/'"%)"*%/'&d"6.)"3'/)%3H%/3(.)"."

/(L%6":)W]H(3'"[")'3(.6"+%".]H%66')"]H%"6."L(L%/K"-.*:'3'!"iH%+%"I.F6.&)%"+%"H/.":'6W-(3."

+%",)-.+'"]H%"3'/-(/c."I.)-."6."5%3I.K".H/]H%")%."1)-.".3.66.+.K"*.]H(66.+."["+()5&.G.+.d"

%)-'"%)" 6'".6.&*./-%!"YH/]H%"%)-%"-&.F.b'")%"3%/-&%"%/"+%).:.&(3('/%)" 66%L.+.)"."3.F'"."

5(/.6%)"+%" 6')" ?8" [":&(/3(:(')"+%" 6')" ;8" X:'&" &.G'/%)":'6W-(3.)"F.)-./-%"%L(+%/-%)K" :'&" %6"

I%3I'"+%"3'/)(+%&.&)%"%)-')"+%).:.&%3(+')".3-(L()-.)")'3(.6%)CK"/'":H%+%"+%b.&)%"+%"I.3%&"

.6H)(E/"."6."'6."+%"L('6%/3(."]H%"%/"6')"c6-(*')"7".`')")%"I."%)-.+'"L(L(%/+'"%/"012(3'!",/"

6." .3-H.6(+.+K" -./" )E6'" %/" %6" :&%)%/-%" )%2%/('" X=8879=8#=CK" 6.)" 3(5&.)" +%" LW3-(*.)"

^3'6.-%&.6%)_K" %/" 6." 66.*.+." ^JH%&&." 3'/-&." %6" /.&3'_" +%6" i&%)(+%/-%" T.6+%&E/K" I./"

)H:%&.+'" .]H%66.)" ]H%" )%" +(%&'/" +H&./-%" )(%-%" .`')" +%" +(3-.+H&." %/" Y&J%/-(/." Xh.G('K"

=88<C!",)-'K".+%*a)"+%"%L(+%/3(.&"H/."3'/-(/H(+.+"+%"%)-&.-%J(.)"+%"3'/-&'6"%"(*:H/(+.+"

%/" %6" )()-%*." :'6W-(3'" [" bH&W+(3'" %/" 012(3'" 9]H%" :%&*(-(E" [" )(JH%" :%&*(-(%/+'" %)-.)"

:&a3-(3.)9" &%.F&%" -.*F(1/" %6" )(J/(5(3.+'" +%" ^6'" :'6W-(3'_" %/" 3H./-'" ." 6')" 3&W*%/%)" +%"

=" V%" -&.-." +%" H/" %/-&.*.+'" +%" +%&%3I')" L('6.+')4" %6" +%&%3I'" ^." 6." )%JH&(+.+" bH&W+(3.K" ." 6." 6(F%&-.+" %"

(/-%J&(+.+" " :%&)'/.6" [" ." 6." .+%3H.+." +%5%/).K" ." 6." )%JH&(+.+" :%&)'/.6K" ." 6." (JH.6+.+" ./-%" 6." 6%[K" ." 6."bH)-(3(.K" ." 6." 3(&3H6.3(E/" [" &%)(+%/3(.K" ." 6." :&'-%33(E/" 3'/-&." 6." +%-%/3(E/" .&F(-&.&(.K" .6" &%):%-'" ." 6."+(J/(+.+"(/I%&%/-%".6")%&"IH*./'K"[".6"+%F(+'":&'3%)'"+%"%).)":%&)'/.)_!"X0'/-%*.['&K"=8#84"=BB9=BAC"

!@" ,/"3'/5%&%/3(.K"h.*(6(.&%)"+%"P')%/+'"P.+(66."i.3I%3'K"+%-%/(+'"["+%).:.&%3(+'":'&"*(6(-.&%)"%/"#<?B"

%/"H/"&%-1/K"%/"Y-'[.3"+%"r6L.&%GK"TI(6:./3(/J'!"B" ,/"012(3'K"QOZ"3'*'"%6"T'*(-1"o,H&%p.q"[" 6."'&J./(G.3(E/"m(b')":'&"6."N+%/-(+.+"["6."nH)-(3(."3'/-&."%6"

Q6L(+'" [" %6" V(6%/3('" Xm!N!n!Q!V!CK" I.F6./" +%" %/-&%" 788" [" #" @88" +,-"$"),8.+(-# $(%W&.8(-K" 3(5&.)" ]H%" )'/"+(5W3(6%)"+%"3'&&'F'&.&K"[."]H%":')(F6%*%/-%"*H3I')"+%"6')"3.)')"/'"I./")(+'"+%/H/3(.+')!""

3

,)-.+'!" sD.)" *(6%)" +%" :%&)'/.)" +%).:.&%3(+.)" %/" 6')" c6-(*')" .`')K" )(" /'" %&./"

:'6W-(3.*%/-%" .3-(L.)K" )'/" -.*F(1/" +%).:.&%3(+')" :'6W-(3')t" V(/" -%*'&" :'+&W." .)%L%&.&"

]H%")WK".6" (*:6(3.&"%6"3.6(5(3.-(L'"+%"^:'6W-(3'_"H/."&%):'/).F(6(+.+"+(&%3-."'" (/+(&%3-.":'&"

:.&-%"+%6",)-.+'d")("/'":'&" 6.".33(E/"+(&%3-."+%6"3&(*%/K")W":'&"3'*:6(3(+.+K":'&":%&*(-(&"

]H%"%)-')" 3&W*%/%)" )%" 66%L%/"." 3.F'"[":'&" )H" 5.6-."+%"L'6H/-.+":'6W-(3.":.&."3.)-(J.&6')K"

%&&.+(3.&6')" [" &%)'6L%&6')!" ,)" %/" %)-%" )%/-(+'" ]H%" %6" :&%)%/-%" -&.F.b'" :H%+%" .+]H(&(&"

&%6%L./3(."I'[4"%6"%)-H+('"+%"6."&%.6(+.+".3-H.6"+%"5.*(6(.)"]H%")'F&%L(L(%&'/"6.":1&+(+."+%"

H/"5.*(6(.&"+%).:.&%3(+'"%/"%6":.).+'"&%3(%/-%K":H%+%".&&'b.&"6H3%)")'F&%"6'"]H%"I'["+W."

)%"%)-a"L(L(%/+'"[")%")%JH(&a"L(L(%/+'"\[")H5&(%/+'9"%/"H/"5H-H&'":&E2(*'!""

,)-%"-%*."%)"*H[".*:6('"[":'+&W.".F'&+.&)%"+%)+%"*H3I')":H/-')"+%"L()-.!"i'+&W."

I.F6.&)%" +%" 6." +,-"$").8./0# '()="+"" 3'*'" %)-&.-%J(." +%" 3'/-&'6" [" 3'*'" *1-'+'" +%"

&%:&%)(E/K" +%)+%" H/." :%&):%3-(L." I()-E&(3." [" :'6W-(3." X]H%" )%" '3H:.&W."*a)" +%6"]5;" [" %6"

$")"#]5;#+%6" 5%/E*%/'CK"'" -.*F(1/"+%)+%"H/.":%&):%3-(L."*a)"%/5'3.+."." 6." 5(JH&."+%6"

+,-"$"),8.+(#$(%W&.8(K".")H":%&5(6K")H)"*'-(L.3('/%)"[")H"L(/3H6.3(E/"3'/" 6')"*'L(*(%/-')"

)'3(.6%)" +%" )H" 1:'3." X&%6.3('/.+'" *a)" 3'/" H/." :.&-%" +%6" ^"# ]5.;0K# +%" %)-." 5'&*." +%"

&%:&%)(E/C!" m." )(+'" *a)" 5&%3H%/-%" 6." *(&.+." I.3(." 6." (+%/-(+.+" +%" 6.)" :%&)'/.)"

+%).:.&%3(+.)" '" 6." +%" )H)" 3.:-'&%)K" I.3(." %6" 3'/-%/(+'" [" %6" %5%3-'" +%" 6.)" :'6W-(3.)"

3'/-&.(/)H&J%/-%)d" [K" .H/]H%" *%/')K" -.*F(1/" )%" 6%" I." +.+'" 6HJ.&" .6" &'6" +%" 6.)"

'&J./(G.3('/%)"]H%"FH)3./"."6')"+%).:.&%3(+')!"uH%+.K":'&"6'"-./-'K":'3'"%2:6'&.+.""'-&."

:.&-%"+%6"^""]5.;0K4" 6."+%" 6."3'*H/(+.+"]H%"6."L(L%K")'F&%L(L%K" 6.")H5&%"[" 6."&%)()-%"3'*'"

-.6d"6."+%"6.)":%&)'/.)"X3'/3&%-.)C"]H%"3'*:'/%/"6.)"*()*.)"'&J./(G.3('/%)"+%"5.*(6(.&%)"

+%" 6.)" ]H%" )%" I.F6.!" ,)" +%)+%" %)-." *(&.+." (/-(*()-." +%)+%" 6." 3H.6" %)-." (/L%)-(J.3(E/"

:&%-%/+%" .3%&3.&)%" .6" 5%/E*%/'" +%" 6." +%).:.&(3(E/!" i.&." 3H.6]H(%&" 3(%/3(." )'3(.6" %)"

(*:'&-./-%"%2:6'&.&"["3'/'3%&"3Ha6"%)"%6"%5%3-'" &%.6K"%*:W&(3'"%/"%)-%")%3-'&!"Y" 5(/.6"+%"

3H%/-.)K" %)" %)-%" '-&'" 6.+'" +%" 6." &%:&%)(E/" %6" ]H%K" .6" )'F&%L(L(&6.K" .:.6.F&.&6." X%" (/36H)'"

.3.66.&6.C" [" +%/H/3(.&6.K" X&%C)(J/(5(3.K" 3'/)-&H[%" [" 6%" +." 6HJ.&" %/" 6." &%.6(+.+" )'3(.6" .6"

5%/E*%/'!!!"["6'"3'/L(%&-%K".)WK"%/"H/"5%/E*%/'")'3(.6!",)"%)-%")%3-'&"%6"]H%"L."."'3H:.&"%6"

3%/-&'"+%"%)-."(/L%)-(J.3(E/!""

4

m.F6.&" +%" +%).:.&%3(+')# [K" %/" %)-%" 3.)'K" +%" )H)" 5.*(6(.&%)" [" )H)" I()-'&(.)K" +%"

.]H%66')"]H%")%"L(%&'/".5%3-.+')":'&"%)-%"3&(*%/K" (*:6(3.K")("/'" 6.":&%-%/3(')." (/-%/3(E/"

+%6"./-&':E6'J'"+%"+.&6%"L'G"."6."^'-&._"3.&.K"6."'-&."L%&)(E/"96."+%"6."&%)()-%/3(.K"6."+%"6')"

)'F&%L(L(%/-%)9K"'"*%b'&"+(3I'K"*')-&.&"9*%+(.-.*%/-%9"H/"-&'G'"+%"6."3.&."(/3E*'+."+%"

%)." &%.6(+.+K" :'&" 6'"*%/')" )W" (*:6(3.K" .H/]H%" ."*'+%)-." %)3.6.K" %6" /'" 3'/-&(FH(&" ." H/."

+%).:.&(3(E/"*a)"."/(L%6"+()3H&)(L'"+%)+%" 6.".3.+%*(.d":'/%&K"+%".6JH/."5'&*.K")'F&%" 6."

*%)."6.)"3'/+(3('/%)"+%"&%:&%)(E/"+%"%)-%":.W)"[K"3'/3&%-.*%/-%K")H)"3'/)%3H%/3(.)!""

,)"./-%"%6" )(6%/3(.*(%/-'"%" (*:H/(+.+K"%/"%)-%"3'/-%2-'"+%"3'/)-./-%" (/bH)-(3(."["

L('6.3(E/"."6')"+%&%3I')"IH*./')K"]H%")%"LH%6L%"H/".)H/-'"%*%&J%/-%"["&%6%L./-%"."-&.-.&"

+%)+%" 3H.6]H(%&" 3(%/3(." )'3(.6!" Y:&'2(*.&)%" .6" J&H:'" )'3(.6" (/*%+(.-'" .6" +,-"$"),8.+(K"

3'*'"6'"%)"%6"+%")H"J&H:'"5.*(6(.&"["6.)"&%6.3('/%)"+%":'+%&"]H%"%/"%66.")%"%b%&3%/K".":.&-(&"

+%"H/"%/5']H%"(/-(*()-.K"+%"%2:%&(%/3(.)"3'/3&%-.)"[":.&-(3H6.&%)K" (+%.6*%/-%":%&*(-(&W.4"

%2:'/%&"3E*'"6')"*H/+')"&%.6%)"+%":%&)'/.)"&%.6%)")%"L%/"-&.)-'3.+')":'&"6."&%:&%)(E/K"

.FH)'"+%":'+%&"%"(*:H/(+.+":'&":.&-%"+%6",)-.+'"["%/"]H1"*%+(+."X%)"+%3(&K"%6".63./3%"+%"

%)-." 5'&*."+%"&%:&%)(E/"+%)IH*./(G./-%"]H%"*H3I.)"L%3%)"%)" (J/'&.+'Cd" ".+%/-&.&)%".6"

%/-&.*.+'" +%" %)5%&.)" )'3('3H6-H&.6%)" [" :'6W-(3.)" ]H%" %/J6'F./" %6" 5%/E*%/'" +%" 6."

+%).:.&(3(E/K"["+%")H)".3-'&%)"(*:6(3.+')K"]H%")%"L%/"&%56%b.+.)"%/"6."+(*%/)(E/"(/+(L(+H.6K""

IH*./.K" 3'-(+(./." +%" 6')" 5.*(6(.&%)d" %2:'/%&K" %/" :%]H%`." %)3.6.K" H/." :&'F6%*a-(3."

/.3('/.6"X%"(/36H)'"H/(L%&).6K"3'*'"*%/3('/."DH+*(6."T.-%6."X=88=CCK"[K"%/"%6"*%b'&"+%"6')"

3.)')K" (+%/-(5(3.&" 6')" (*:%+(*%/-')" [" 6')" &%3H&)')" /%3%).&(')" :.&.K" :')-%&('&*%/-%K"

L()6H*F&.&" :')(F6%)" LW.)" +%" ^&%3'/)-&H33(E/_" +%" 6." L(+." +%" 6.)" 5.*(6(.)" .5%3-.+.)" X[" :'&"

)H:H%)-'K"66.*.&"6.".-%/3(E/"+%"6.)"-%&&(F6%)"(*:6(3.3('/%)K":.&."]H%"%)-')"3&W*%/%)"/'")%"

)(J./" 3'*%-(%/+'C!" ,/" '-&.)" :.6.F&.)K" 6." *(&.+." ./-&':'6EJ(3.K" %/" %)-%" -(:'" +%"

:&'F6%*a-(3.)" )'3(':'6W-(3.)K" :'+&W.K" (+%.6*%/-%" 9." 5H-H&'9" 3.*F(.&" [M'" &%3&%.&" 3(%&-.)"

(/)-(-H3('/%)"."5(/"+%"]H%")%":'/J.".-%/3(E/"%/"%)-')")%3-'&%)!""

V(" F(%/" %2()-%" .*:6(." F(F6('J&.5W." )'F&%" %)-')" -%*.)" [" %)-')" %/5']H%)" 9

:.&-(3H6.&*%/-%" )'F&%" 6')" %5%3-')" +%" 6." +%).:.&(3(E/" 5'&G.+." %/" 5.*(6(.&%)" +%)+%"

:%&):%3-(L.)":)(3')'3(.6%)"X:)(3'6EJ(3.)K":)(3'./.6W-(3.)CK")'3('6EJ(3.)"["./-&':'6EJ(3.)9"%/"

:.W)%)"3'*'"ZH.-%*.6.K"Y&J%/-(/.K"TI(6%"XnH+(-I"h(63K"#<<?d"T.&6')"h(JH%&'.K"#<<<d"DH+*(6."

5

T.-%6."K"=88=d"R(./."v'&+'/"w"DH3(6.",+%6*./K"=88Ad",6(G.F%-I"n%6(/"w"VH)./."Z!"v.H5*./K"

=887K"%/-&%"'-&')CK":'&"*%/3('/.&".6JH/')K"%/"012(3'" )'/":'3')" 6')" -&.F.b')" &%.6(G.+')"

)'F&%" %)-%" -%*." X[" +%)+%" %)-%" %/5']H%Cd" 3.F%" &%3'/'3%&" -&.F.b')" 3'*'" 6')" +%" x(*%/."

Y/-(66E/" X=88;CK" :'&" :.&-%" +%" 6." T'*()(E/" 0%2(3./." +%" R%5%/)." [" i&'*'3(E/" +%" 6')"

R%&%3I')" mH*./')" XT0RiRmCK" ]H%" I(G'" H/" +(.J/E)-(3'" :)(3')'3(.6" +%6" (*:.3-'" ." /(L%6"

(/+(L(+H.6K" 5.*(6(.&" [" 3'*H/(-.&('" +%" %)-%" -(:'" +%" L('6%/3(." +%" ,)-.+'" %/" %/-(+.+%)" +%"

ZH%&&%&'"X%)-.+'"+%".6-.)"3(5&.)"+%"+%).:.&%3(+')CK""[".]H16"+%",6(G.F%-I"0.(%&"X=88#CK"]H%"

./.6(GEK" +%)+%" H/." :%&):%3-(L." %/" J&./" :.&-%" +%" J1/%&'" [" I.3(%/+'" I(/3.:(1" %/" %6"

3'/3%:-'"+%"*.-%&/(+.+K"6."3'/3(%/-(G.3(E/"["6.)"-&./)5'&*.3('/%)"J%/1&(3.)".":.&-(&"+%"6."

:.&-(3(:.3(E/")'3(':'6W-(3.""+%"*.+&%)"+%"+%).:.&%3(+')":'6W-(3')":%&-%/%3(%/-%)".6"T'*(-1"

o,H&%p.q!"hH%"%)-."c6-(*.":%&):%3-(L."6."]H%".[H+E"."L()6H*F&.&"%6"3.*(/'":'&"%6"3H.6"H/."

:&'F6%*a-(3." )'3(.6" 3'*'" 1)-." :H%+%" .F'&+.&)%" +%)+%" 6." *(&.+." (/-(*()-." +%" I()-'&(.)"

:.&-(3H6.&%)" [" ]H%K" .+%*a)K" /')" +%b." L%&" 3E*'" /'3('/%)" :'6W-(3.)" X[" +%" :'+%&C" %)-a/"

(*:6(3.+.)"-.*F(1/"%/"6."%)5%&."+%"6'"k:&(L.+'l!"

P%)H6-."&%6%L./-%K":H%)K"3'/'3%&"[")%JH(&"%2:6'&./+'" 6." &%.6(+.+"+%" 6')" 5.*(6(.&%)"

+%"+%).:.&%3(+')":'6W-(3')"*%2(3./')K"+%)+%"H/.":%&):%3-(L."./-&':'6EJ(3.K"+%/-&'"+%"6.)"

%):%3(5(3(+.+%)" +%" H/" :.W)" 3'*'" 012(3'K" )(%/+'" 6')" 3'/-%2-')" XI()-E&(3')K" :'6W-(3')K"

%3'/E*(3')K" bH&W+(3')K" )'3(.6%)" [" 3H6-H&.6%)C" )(J/(5(3.-(L.*%/-%" +()-(/-')" ." 6')" +%" '-&.)"

6.-(-H+%)"+%"Y*1&(3."D.-(/.!""

,6",)-.+'"%/3.&3%6."(6%J.6*%/-%K"-'&-H&.K".)%)(/.K":%&'"/'"I.F6."+%":&%)')":'6W-(3')K"

)(/'"+%"+%6(/3H%/-%)K"-&./)J&%)'&%)"+%"6."6%[d"/'"I.F6."+%"-'&-H&.d"/'"I.F6."+%".)%)(/.+')K"

)(/'" +%" ^*H%&-')" %/" %/5&%/-.*(%/-')_" [K" I'[" %/" +W.K" +%" ^6%L./-.+')_d" /'" I.F6." +%"

3(H+.+./')" /(" +%" :%&)'/.)K" )(/'" +%" 3&(*(/.6%)" '" /.&3'-&.5(3./-%)d" .)W" " -.*F(1/""

+,-"$"),8,?# :%&'" %/" )H" +()3H&)'" /'" %)-a/" :&%)%/-%)" 6')" +,-"$"),8.+(-# $(%W&.8(-2" O'" %/"

012(3'!" Y)W" :H%)K" /'" :'+&W." I.F6.&)%" +%6" +,-"$"),8.+(# $(%W&.8(" )(/" I.F6.&" :&(*%&'" +%"

]H(%/%)"6%"+(%&'/":&(*%&'"/'*F&%"[K"%/-'/3%)K"H/"6HJ.&"%/"6."&%.6(+.+")'3(.64"6')"5.*(6(.&%)"

X)'F&%"-'+'"6')"3'*(-1)"+%"5.*(6(.&%)"+%"+,-"$"),8.+(-"]H%"%2()-%/"%/"%6":.W)C!#VH&J%/K".)WK"

/H%L')"J&H:')")'3(.6%)"3'/"/H%L')")()-%*.)"+%"&%:&%)%/-.3('/%)K":&a3-(3.)K"(+%/-(+.+%)"["

%)-&.-%J(.)"+%".33(E/!" XT.-%6.K"=88=d"0.(%&K"=88#d"v'&+'/"[",+%6*./K"=88Ad"R%"y%33I("["

6

ZE*%GK"=88;C!" D." (*:'&-./3(."I()-E&(3."[":'6W-(3."+%".]H%66')"]H%"+%3(+%/"'&J./(G.&)%"%"

(/L'6H3&.&)%"%/" 6." 6H3I.":'&" 6')"+,-"$"),8.+(-#[*.+&%)K"%):').)"["I%&*./.)"]H%").6%/"."

6.)"3.66%)K"*H3I.)")(/"I.F%&" -%/(+'":&%L(.*%/-%"/(/Jc/" -(:'"+%":.&-(3(:.3(E/":'6W-(3."%/"

%):.3(')" :cF6(3')K" &.+(3." %/" ]H%" %)-')" J&H:')" .*:6W./" [" +%)%)-.F(6(G./" +()3H&)')"

I%J%*E/(3')" 9:&.3-(3./K" )%Jc/" ,)3'F.&K" r6L.&%G" [" R.J/(/'" X=88#CK" :'6W-(3.)" 3H6-H&.6%)"

3'/-&.I%J%*E/(3.)9" :'/(%/+'" %/" 3H%)-(E/" [" &%)(J/(5(3./+'" *H3I.)" /'3('/%)"

-&.+(3('/.6*%/-%" .)%/-.+.)!" P%)H6-.K" :'&" 6'" -./-'K" +%" (/-%&1)" 3'/'3%&" %6" *H/+'" [" 6.)"

*'-(L.3('/%)" (/-%&/.)" ]H%" +./" 6HJ.&" ." %)-')" 5%/E*%/')" )'3(.6%)" [" :'6W-(3')" -./"

(*:'&-./-%)" +%" %)-%" :.W)!" ,6" (*:.3-'" +%" 6.)" '&J./(G.3('/%)" X[" )H" :')(F(6(+.+" +%"

3'/)'6(+.3(E/" ["*'L(*(%/-'C" /'"I." )(+'"+%" 6."*.J/(-H+"+%"'-&')" :.W)%)K" +'/+%"+%" %)-%"

5%/E*%/'" :'6W-(3'" )%" I(G'" H/" 5%/E*%/'" )'3(.6" [" :cF6(3'" ." J&./" %)3.6.!" V(/" %*F.&J'K" ."

:%).&"+%6"%)-&%3I'"&./J'"+%"*'L(*(%/-'K":'3'"%3'":'&":.&-%"+%"6.")'3(%+.+"%/"J%/%&.6"["

:'3'"6HJ.&"]H%"%)-&H3-H&.)":'6W-(3.)"[""*%+(a-(3.)"6%"+./"."%)-%"-(:'"+%"'&J./(G.3('/%)"+%"

5.*(6(.&%)" %/"012(3'K" )H)" (/-%J&./-%)" I./" 6'J&.+'" L()(F(6(G.&" %6" 5%/E*%/'" [" )(JH%/" .IWK""

)(JH%/" 6H3I./+'K" [" I.[" 6'J&.+'" 3').)" (*:'&-./-%)!" D'" ]H%" %/" *.-%&(." +%" +%&%3I')"

IH*./')" )%" I." J./.+'K" %)" J&.3(.)" ." " %66')" X%66.)K" %/" )H" *.['&W.C!" ,)-'" /')" I.3%"

:&%JH/-.&/')"%"(&"*a)".66aK"'"F(%/K"*a)".+%/-&'"+%"6."'&J./(G.3(E/!",6"-&.F.b'"/'":%&)(JH%"

%6" 'Fb%-(L'"+%"I.F6.&" +%" 6." '&J./(G.3(E/"*()*.!" V'/"*a)"F(%/" 6')" .3-'&%)" )'3(.6%)" [" )H)"

:&':(')" :&'3%)')" X+%6(*(-.+')" :'&" H/." &%.6(+.+" )'3(.6" [" 3H6-H&.6" :.&-(3H6.&C" %6" 5'3'" +%"

(/-%&1)!" V%" :&%-%/+%" +%" .6JH/." 5'&*." &.)-&%.&" :.&-%" +%6" I(6'" 3'/%3-'&" %/-&%" I()-'&(.)"

(/+(L(+H.6%)" [" )(-H.3('/%)" %)-&H3-H&.6%)" XL('6%/3(." +%" ,)-.+'C" '" :&'3%)')" )'3(.6%)"

X'&J./(G.3('/%)" +%" 5.*(6(.&%)C!" ,6" -&.F.b'" 5H/J(&W.K" %/" %)-%" )%/-(+'K" 3'*'" L%/-./." :.&."

.:&'2(*.&/')"."6."3'*:&%)(E/"+%"6.)"3'/+(3('/%)")'3('3H6-H&.6%)".":.&-(&"+%"6.)"3H.6%)"6')"

)Hb%-')")'3(.6%)"I./"%/5&%/-.+'"6."L('6%/3(."+%6",)-.+'"%/"%6":.).+'"["6'")(JH%/"I.3(%/+'"

%/"%6":&%)%/-%!""

""

,6":&%)%/-%"-&.F.b'":%&)(JH%"+')":&(/3(:.6%)"'Fb%-(L')4"

"

7

#C" Y" :.&-(&" +%" I()-'&(.)" +%" L(+.K" 3'/'3%&" %6" (*:.3-'" +%" 6." +%).:.&(3(E/" 5'&G.+." %/" 6')"

5.*(6(.&%)K" :.&-(3H6.&*%/-%" %/" @" *Hb%&%)" *(%*F&')" +%6" T'*(-1" o,H&%p.q4" 3E*'" )%" L(L%"

)HFb%-(L.*%/-%"6.":1&+(+."+%"H/"5.*(6(.&":'&"%)-."*%+(+."&%:&%)(L.K"6.)"-&./)5'&*.3('/%)"

+%")H"*H/+'"+%"L(+."["6.)"%)-&.-%J(.)"+%"%/5&%/-.*(%/-'!&

=C"P%6.3('/.+'"3'/"6'"./-%&('&K"3'*:&%/+%&"%6":.:%6"]H%"6."'&J./(G.3(E/"3H*:6%"%/"-./-'"

%)-&.-%J(." +%" %/5&%/-.*(%/-'" [" L(/3H6.&" 6.)" I()-'&(.)" [" 3'/-%2-')" (/+(L(+H.6%)" 3'/" 6."

:.&-(3(:.3(E/" :'6W-(3.d" 3'/'3%&" ]H1" -&./)5'&*.3('/%)K" ]H1" -%/)('/%)" [" ]H1" /H%L.)"

)HFb%-(L(+.+%)" )%" 3'/)-&H[%/" ." :.&-(&" +%" 6.)" /H%L.)" :&a3-(3.)" )'3(.6%)" [" :'6W-(3.)" ]H%" %/"

%)-%"3'/-%2-'")%"J%/%&./!""

"

,/" %)-." (&&H:3(E/" +%6" *H/+'" +%" L(+.K" )H&J%" 6.)" :&%JH/-.)" JHW.4" suH1" -(:'" +%"

-&./)5'&*.3('/%)")%"+./"./-%"6."+%).:.&(3(E/"+%"H/"5.*(6(.&t"sTHa6%)")'/"6')":&'F6%*.)"["

-%/)('/%)" ]H%" )%" +%).-./t" sTE*'" )%" %/-(%/+%" 6." :.&-(3(:.3(E/" :'6W-(3." +%" %)-.)" -&%)"

*Hb%&%)t"

"

T'*'":&%JH/-.)")%3H/+.&(.)")%":6./-%./"6.)")(JH(%/-%)4"suH1":.:%6"bH%J."6."'&J./(G.3(E/"

+%"5.*(6(.&%)"%/"6')":&'3%)')"+%"&%3'/)-&H33(E/":.&-(3H6.&%)t"suH1"%)"6'"]H%")%":&'+H3%K"

]H1"6'"]H%")%"&%:&'+H3%K"]H1"3.*F(."["]H1":%&*./%3%".":.&-(&"+%"%)-%"/H%L'"3'/-%2-'t"

suH1" /H%L.)" :&a3-(3.)" )%" J%/%&./" [" ]H1" /H%L.)" :%&):%3-(L.)" [" )HFb%-(L(+.+%)" )%"

3'/)-&H[%/".":.&-(&"+%"%66.)t"suH1"":.:%6"bH%J."6."5.*(6(."X["6')"&'6%)".6"(/-%&('&"+%"1)-.C"+%"

%)-.)"*Hb%&%)"%/"%)-')":&'3%)')t"

"

i.&." 3'/-%)-.&" %)-.)" :&%JH/-.)" )%" +%3(+(E" -'*.&" 3'*'" :&(/3(:.6%)" %b%)" +%" ./a6()()" %"#

'"*.%."" [" 6')" &'6%)" [" &%6.3('/%)"+%":'+%&"]H%" 3'/L(L%/"+%/-&'"+%"1)-." [K" 3'*'":.&-%"+%"

%)-')" c6-(*')K" %""*"&,)0.+"+# C#%6" :.:%6" +%#*"+),-$(-"2" XD.J.&+%K" #<<8d" z.).J6(.K" #<;@d"

T.6L%(&'K"=88AC"

"

si'&" ]H1" %)-.)" .H-'&.)t" i.&." .3%&3.&/')" [" :'+%&" %/-%/+%&" 6.)" &%3'/5(JH&.3('/%)" [" 6.)"

-%/)('/%)"]H%"")%"+(%&'/"+%/-&'"+%")H"/c36%'")'3(.6"*a)"3%&3./'"\6."5.*(6(.9K"."6.)"3H.6%)"

8

%)-.)" *Hb%&%)" -HL(%&'/" ]H%" %/5&%/-.&)%" 9:&(*%&'" ." &.WG" +%" 6." +%).:.&(3(E/" +%" )H" )%&"

]H%&(+'K" +%):H1)K" ." &.WG" +%" )H" :.&-(3(:.3(E/" :'6W-(3." %/" %6" T'*(-19K" I.FW." :&(*%&'" ]H%"

3'*:&%/+%&K" ./.6(G.&K" +%L%6.&" [" +%)3'/)-&H(&" 6')" &'6%)" ]H%" .6" (/-%&('&" +%" 6." 5.*(6(." )%"

I.FW./" 3'/)-&H(+'" [" ]H%K" :')-%&('&*%/-%K" )%" L(%&'/" -&.)-'3.+')K" &%)(J/(5(3.+')" '" F(%/K"

3'/)'6(+.+')" [" &%.5(&*.+')" ./-%" -.6%)" I%3I')!" ,/" %)-%" )%/-(+'" %)" ]H%" )%" 3'/)(+%&E"

&%)3.-.&":')-H&.)" -%E&(3.)"]H%" 5H%&./"3'*:.-(F6%)"3'/" 6.":%&):%3-(L."+%" 6." 5.*(6(."3'*'"

H/"%):.3('"+%"3'/)-&H33('/%)")'3(.6%)"["&%6.3('/%)"+%":'+%&K"%)"+%3(&K"H/"%):.3('":'6W-(3'"."

:%]H%`."%)3.6.K" 3.:.G"+%"%3I.&" 6H3%)" )'F&%" 5%/E*%/')" )'3(.6%)"*a)".*:6(')!" $./-'" 6')"

%/5']H%)" +%" D.J.&+%" [" z.).J6(.K" 3'*'" %6" +%" i(6.&" T.6L%(&'" )%" 3'/)(+%&.&'/" :%&-(/%/-%)"

:.&."-.6%)""5(/%)!"

D.":&':H%)-."-%E&(3."+%"6.)":&(*%&.)")%"(/)%&-."%/"%6"+()3H&)'"5%*(/()-."+%"5(/.6%)"

+%"6')")%)%/-."[":&(/3(:(')"+%"6')")%-%/-.K"*'*%/-'"%/"%6"]H%"6."3&W-(3.".6":.-&(.&3.+'")%"

I(G'" ." :.&-(&" +%6" 3H%)-('/.*(%/-'" +%" 6."*.-%&/(+.+!" A" ,)" ./-%" 6." :&%)%/3(." %/" 6." %)3%/."

:cF6(3."+%"*Hb%&%)K"["+%"*.+&%)"%/":.&-(3H6.&K"%/"6.)"6H3I.)")'3(.6%)"]H%"-HL(%&'/"6HJ.&"%/"

:.W)%)"+%"Y*1&(3."D.-(/."3'/"J'F(%&/')".H-'&(-.&(')"9*(6(-.&%)"'"3(L(6%)9"+H&./-%"6."+13.+."

+%"6')"?8"[";8K"]H%")%"+%).-E"H/'"+%"6')"+%F.-%)"-%E&(3')""&%6.3('/.+')"3'/"6'":'6W-(3'K""6."

*Hb%&"[" 6."*.-%&/(+.+!",)"."/'*F&%"+%" 6."*.-%&/(+.+"]H%")%" ).6%".6"%):.3('":cF6(3'"%/"

+()-(/-.)"6.-(-H+%)"+%"Y*1&(3."D.-(/.d"%/"012(3'"%6"T'*(-1"o,H&%p.q".:.&%3%"%/"%)3%/."+%"

%)-."*./%&.!"$.*F(1/"5H%"+%)+%"%6":&(*%&"*'*%/-'"+%"6.)"%/-&%L()-.)"9+%"6.)"I()-'&(.)"+%"

L(+.9" 3H./+'" .:%/.)" )%" (F." 3'/)-&H[%/+'" %6" %b%" +%" ./a6()()K" ]H%" 6." ^F./+%&._" +%" 6."

*.-%&/(+.+"%/"%6"+()3H&)'"&%).6-E"["&%)H6-E"+(5W3(6"+%")%&"(J/'&.+.!"hH%"%)-'"6'"]H%"+('":(%"."

3'&&'F'&.&" ]H%" 3.-%J'&W.)" 3'*'" 6.)" ]H%" D.J.&+%" X*.+&%):').K" -,)[+,# C# $")"[(&)(-C" ["

A" Y6"(JH.6"]H%"'-&.)"(/L%)-(J.+'&.)K".-&(FHW./"6."&%36H)(E/"+%"6."*Hb%&".6"a*F(-'"5.*(6(.&K":&(L.+'"[":%&)'/.6"

:'&")H"3.:.3(+.+"+%"&%:&'+H33(E/K"")(-Ha/+')%"%6"I'*F&%K"%/"3.*F('K"%/"6."%)5%&.":cF6(3.K"[".)'3(.F./"6."*.-%&/(+.+"3'*'"%6"&%5%&%/-%"(+%/-(-.&('"5%*%/(/'":'&"%23%6%/3(.K"(*:'/(%/+'"."6."*Hb%&"+%F%&%)"3'*'"%6"/H-&(&K":&'-%J%&K"3'*:&%/+%&"[")')-%/%&"."'-&')!"XVa/3I%G"z&(/J.)K"=88@C"d".*F.)".H-'&.)"3'(/3(+%/"%/"5'&*.&" :.&-%" +%" 6." L%&-(%/-%" ^/'"*.-%&/.6()-._" X+%/-&'" +%" 6." 3'&&(%/-%" 5%*(/()-." +%" 6." (JH.6+.+CK" ]H%"3'/)(+%&." 6." *.-%&/(+.+" 3'*'" H/" %):.3('" *a)" F(%/" )'3(.6*%/-%" 3'/)-&H(+'K" [" :&':'/%" ]H%" )'/" 6.)"3.&.3-%&W)-(3.)"-&.+(3('/.6*%/-%".)'3(.+.)"."6."*.+&%"X.6-&H()*'"5.*(6(.&K"%6")%&"^3H%&:')":.&."'-&')_C"%6"*'-'&"]H%"&(J%"6.":.&-(3(:.3(E/":'6W-(3."%/"%):.3(')":cF6(3')"%/"%)-.)"1:'3.)d"+%"%)-."*./%&.K".":%).&"+%"-&.)J&%+(&)%"6."+(L()(E/")%2H.6"%/"%6"%):.3('":cF6(3'"[")%"I.J.":'6W-(3."."/'*F&%"+%"6."*.-%&/(+.+K"%6"6HJ.&")'3(.6")HF'&+(/.+'"/'"-%&*(/."+%"+%).-.&)%!"X0.(%&K"%/"D%F'/"["0.(%&K"=887C"

!"

9

z.).J6(."X3H%&:'9:.&.9'-&')C":&':'/%/"\%):.3(')"'"6HJ.&%)"3H6-H&.6%)"[")'3(.6%)K"/'"-./-'"

F('6EJ(3')9" :'+W./" &%)H6-.&"*H[" :%&-(/%/-%)" [" %2:6(3.-(L.)" :.&."*H3I')" +%" 6')" :&'3%)')"

:%&)'/.6%)K")HFb%-(L')"[")'3(.6%)"+%"6.)"*Hb%&%)":&'-.J'/()-.)"+%6":&%)%/-%"-&.F.b'!",)-.)"

3.-%J'&W.)" :(%/)'" ]H%" %/J6'F./" 3'/-%2-')" 3H6-H&.6%)" [" )'3(.6%)" ]H%" -(%/%/" H/" (*:.3-'"

(*:'&-./-%" [" )%" L%/" &%56%b.+')" %/" 6.)" %)5%&.)" :.&-(3H6.&%)K" .6" (/-%&('&" +%" 6.)" 5.*(6(.)" +%"

%)-.)"-&%)"*Hb%&%)"X%/")H"*H/+'"+%"L(+.CK"["-(%/%/"H/."36.&."(/3(+%/3(."%/"6.)"5'&*.)"+%"

.5&'/-.*(%/-'"+%6")H3%)'"+%"6."+%).:.&(3(E/"5'&G.+.!"

m.F6.&"+%"%)-%"6HJ.&")'3(.6"["3H6-H&.6*%/-%".-&(FH(+'"X3'/"-'+.)")H)"3'/)%3H%/3(.)"

%"(*:6(3.3('/%)CK"3'*'"6'"%)"%6"+%"*.+&%):').K"(*:6(3."-.*F(1/"/%3%).&(.*%/-%"I.F6.&"+%"

&%6.3('/%)" +%" :'+%&!" i.&." /'" ]H%+.&/')" 3'/" %)-%" 6HJ.&" ]H%" ." L%3%)" :.&%3(%&." :'&"

+%5(/(3(E/" \[" )%/-%/3(.9" +%" ':&%)(E/" X%6" +%" *.+&%):').K" 6." *Hb%&" 3'*'" 3H%&:'9:.&.9

'-&')CK" [" +.&6%" '-&')" *.-(3%)" [" +(*%/)('/%)" ." 6." &%.6(+.+" )'3(.6" 9]H%" /'" %)" %)-a-(3.K"

+(3'-E*(3." '"*'/'6W-(3.9" 6." :')-H&." +%" i(6.&" T.6L%(&'" .3%&3." +%" 6.)" &%6.3('/%)" +%" :'+%&"

&%)H6-E"*H["':'&-H/.4"6.".H-'&."3'/3(F%"."6')".3-'&%)"(*:6(3.+')"\I.)-."."6')"]H%"%)-a/"%/"

)(-H.3('/%)" -&.+(3('/.6K" I()-E&(3." [" 3H6-H&.6*%/-%" +%" *.['&" ':&%)(E/9" )(%*:&%" *EL(6%)K"

&%)()-%/-%)" [" %/" 3'/)-./-%" +():H-." :'&" 6." I%J%*'/W." X/'" 3'*'" %/-%)" 3.&%/-%)" '"

:')%%+'&%)" :%&*./%/-%)" +%" :'+%&CK" [" ." 6." 5.*(6(." 3'*'" H/" %):.3('" +%" &%6.3('/%)" +%"

:'+%&K"%)"+%3(&K"H/"%):.3('":'6W-(3'!""

""

T'*'" I(:E-%)()" )%" :6./-%." ]H%" %6" I%3I'" +%" " .+I%&(&)%" ." H/." 6H3I.K" ." H/" /H%L'" J&H:'K"

3'*'" H/" &%3H&)'" (/)-&H*%/-.6" :.&." FH)3.&" ." )H" )%&" ]H%&(+'K" 3'*'" H/." +%" 6.)" :')(F6%)"

3'/)%3H%/3(.)"+%" 6.)"/H%L.)":&a3-(3.)" ." 6.)"]H%" 6."+%).:.&(3(E/"+%"H/" 5.*(6(.&" 3'/66%L.d"

:%&'" -.*F(1/K" ." )H" L%GK" %)-." .+I%&%/3(." :H%+%" 6%%&)%" 3'*'" J%/%&.+'&." +%" /H%L.)"

:&a3-(3.)"["/H%L.)")HFb%-(L(+.+%)d"3'*'"H/"+.+'&"+%")%/-(+'"]H%"&%.&-(3H6."%6"*H/+'"+%"

L(+." -&.)-'3.+'" ./-%" -'+." 6." (/3%&-(+H*F&%" [" 6." 5.6-." +%" &%3'/'3(*(%/-'" )'3(.6" ]H%"

3.&.3-%&(G."."6."+%).:.&(3(E/"5'&G.+."+%"H/"5.*(6(.&!""

T'*'"'-&."I(:E-%)()K"%/"%6"3.)'"+%" 6.)"*.+&%)K" 6."+%3()(E/"+%":.&-(3(:.&")%" (/-H[%"

]H%":H%+%"L%&)%"(*:H6).+.":'&"%6"+'6'&"X.5%3-'C"[":'&"%)-%":.:%6".+bH+(3.+'"+%/-&'"+%"6.)"

5.*(6(.)" X&'6" " *.-%&/.6Cd" )(/" %*F.&J'K" ." 6." L%GK" :&%3().*%/-%" %6" &'6" J%/1&(3'" +%" %)-.)"

10

*Hb%&%)" [" )H" :.:%6" %/" 6.)" 5.*(6(.)" \]H%" )%" 3'/)(+%&." %/" -1&*(/')" J%/%&.6%)" +%" 3'&-%"

-&.+(3('/.69")%":&%)H*%"]H%":H%+%"&%:&%)%/-.&"H/"'F)-a3H6'":.&."6.":.&-(3(:.3(E/":'6W-(3."

[")%&"J%/%&.+'&"+%"*H3I.)"'-&.)"-%/)('/%)".6"(/-%&('&"+%"6.)"5.*(6(.)!",6"J&.+'"["%6"-(:'"+%"

(/L'6H3&.*(%/-'"%/"6."'&J./(G.3(E/"+%:%/+%&a/"+%"%)-.)"c6-(*.)!"D')"&'6%)"+%"J1/%&'"["%6"

6HJ.&"+%"%)-.)"*Hb%&%)"%/")H)"5.*(6(.)":H%+%/"L%&)%"&%3'/5(JH&.+')"["&%)(J/(5(3.+')!"

Q-&." +%" 6.)" I(:E-%)()K" F.).+." %/" 6'" ]H%" 3'*%/-." DH+*(6." T.-%6." X=888C7K" %)" ]H%"

-./-'"%6"+()3H&)'K"6.)".33('/%)K"%6"-(:'"+%":.&-(3(:.3(E/"["%6"-(:'"+%"-%/)('/%)"]H%":H%+./"

(+%/-(5(3.&)%"%/"6.)"*.+&%)"+%"+%).:.&%3(+'M.)K"L./"."&%)H6-.&"*H["+()-(/-')"."6')"+%"H/."

I%&*./."+%"+%).:.&%3(+'!",)-'"%/"J&./":.&-%"+%F(+'"." 5.3-'&%)"3H6-H&.6%)"+(5%&%/3(.+')"

&%6.3('/.+')" ." 6." F&%3I." J%/%&.3('/.6" [" 6')" 3'/-%2-')" )'3(.6%)" [" 5.*(6(.&%)!" V%"

:&%)H:'/+&W.K" %/" %6" 3.)'"+%"H/."I%&*./.K" ]H%"1)-')" &%)H6-.&W./"*a)" 5.L'&.F6%)":.&." 6."

:.&-(3(:.3(E/" :'6W-(3." X%)" +%3(&K" ]H%" :H%+%/" 5H/J(&" *a)" 3'*'" .:'['" ]H%" 3'*'"

(*:%+(*%/-'" :.&." 6." *()*." :.&-(3(:.3(E/C!" $.*F(1/K" &%6.3('/.+'" 3'/" 6.)" +(5%&%/3(.)"

J%/%&.3('/.6%)K" 6')" -%)-(*'/(')" +%" 6.)" *.+&%)" )%" %):%&.&W." ]H%" )%" 3'/3%/-&.&./" %/" 6."

1:'3." *a)" a6J(+." +%" 6." &%:&%)(E/" [" %/" 6')" *'*%/-')" :')-%&('&%)" .6" )%3H%)-&'d" %6"

-%)-(*'/('"+%"H/."I%&*./."X+%"6."*()*."J%/%&.3(E/"]H%"%6"+%).:.&%3(+'"["3'/"L(L%/3(.)"

+%"1:'3."%/"3'*c/CK" )%"%):%&.&W."]H%")%"3'/3%/-&.&."*a)"%/" 6')".`')"+%"*(6(-./3(.K"%/"

H/."*(&.+."3&W-(3."+%6":.).+'"["%/"6.)":1&+(+.)"["-&.J%+(.)"]H%")%"+(%&'/"%/"6."1:'3."+%"

&%:&%)(E/"3'/-%*:'&a/%."."6."+%).:.&(3(E/?!""

#

",/" 3H./-'" ." 6." +%6(*(-.3(E/" [" )%6%33(E/" +%" 6')" )Hb%-')" +%" (/L%)-(J.3(E/K" :'+%*')"

:&%JH/-.&/')" +')" 3').)4" s:'&" ]H1" +')" *.+&%)" [" :'&" ]H1" H/." I%&*./." +%"

+%).:.&%3(+'M.)t" i.&." &%):'/+%&" %/" :.&-%" ." %66'" :H%+%" .&JH*%/-.&)%" ]H%" [." %/" H/."

7" ,)-'" 5H%" 6'" ]H%" 3'/36H[E" 6." (/L%)-(J.+'&." H/." L%G" &%.6(G.+." H/." )%&(%" +%" %/-&%L()-.)" ." 5.*(6(.&%)" +%"

+%).:.&%3(+')".&J%/-(/')"+%"+()-(/-.)"J%/%&.3('/%)"["-(:')"+%"6.G'"5.*(6(.&"X.FH%6.)K"*.+&%)K"3E/[HJ%)K"I%&*./')K"I(b')C!"

""?" T.-%6." I.F6." .]HW" +%" 6." 1:'3." +%" 6." +(3-.+H&.!" O'" :H%+%" I.F6.&)%" %/" %)-')" -1&*(/')" :.&." %6" 3.)'"

*%2(3./'K":%&'")W":H%+%"I.3%&)%"&%5%&%/3(."."H/."1:'3."+%"&%:&%)(E/"*H["36.&."["+(5%&%/3(.+."+H&./-%"%6":%&('+'"3'/'3(+'"k'5(3(.6*%/-%l"3'*'"{ZH%&&."VH3(.{"+%"5(/.6%)"+%"6')".`')"78K"?8"[";8!"

! "

11

(/L%)-(J.3(E/" ./-%&('&" )%" I.FW." -&.F.b.+'" 3'/" I(b')" +%" +%).:.&%3(+')" :'6W-(3')!" D.)"

:&'F6%*a-(3.)" &%6.3('/.+.)" ." %)-%" -(:'" +%" LW/3H6'" [" ." %)-." J%/%&.3(E/" )'/" *H["

:.&-(3H6.&%)!"y./K"3'*'"F(%/"+(3%"T.-%6.K"*H3I'"+(&(J(+.)"."3H%)-('/%)"+%" (+%/-(+.+!"i'&"

)H:H%)-'"]H%"%2()-%"H/"-&.F.b'"+%"+H%6'"["H/.")%&(%"+%")(-H.3('/%)"&%6.3('/.+.)"."16"]H%"

:%&*%.&a/"["%)-.&a/":&%)%/-%)"." 6'" 6.&J'"+%"-'+.")H"L(+.!"V(/"%*F.&J'K"%)"*H["+()-(/-'"

L(L(&" 6.":1&+(+."+%"H/":.+&%"]H%" 6."+%"H/"I(b'"'"H/"I%&*./'!"0%" (/-%&%)E"%/":.&-(3H6.&"

3'/'3%&K"%)-."L%GK"3E*'")%"L(L%"-.6":1&+(+."%/"'-&.)"J%/%&.3('/%)K"%/"'-&'"-(:'"+%"LW/3H6')"

5.*(6(.&%)K"%/":%&)'/.)"]H%"3'/'3(%&'/"[" 3'/L(L(%&'/"3'/" "%6M6."+%).:.&%3(+'M."+H&./-%"

J&./":.&-%"+%")H"L(+.K"["+%":&'/-'"+%bE"+%"%)-.&"5W)(3.*%/-%"3'/"%66'M.)!"m.["H/"./-%)"["H/"

+%):H1)"*a)"36.&'"["3'/-H/+%/-%K"*a)"HF(3.F6%!"i.&-(3H6.&*%/-%"*%"(/-%&%).F."3'/'3%&"

3E*'"H/."*.+&%":H%+%" &%)(J/(5(3.&" 6." :1&+(+."+%"H/"I(b'K" +%"H/."I(b.K" :'&" %)-%" -(:'"+%"

3&(*%/!"V(%/+'"%6"T'*(-1"o,H&%p.q"H/."'&J./(G.3(E/"5H/+.+.":&(/3(:.6*%/-%"."/'*F&%"+%"

6."*.-%&/(+.+"X.H/]H%"/'")E6'")'/"*.+&%)"+%"+%).:.&%3(+')CK"5H%"]H%"*%".3%&]H1"."%66.!"

T.F%"*%/3('/.&"]H%"IHF'K"."6'"6.&J'"+%6":&'3%)'"+%"+%6(*(-.3(E/"+%"6')")Hb%-')K"H/"

3.*F('"'K"*%b'&"+(3I'K"H/".3'-.*(%/-'!"",/"H/":&(/3(:('"6."(+%."%&."-&.F.b.&"3'/"*(%*F&')"

+%6" T'*(-1" o,H&%p.q" 9" &%)(+%/-%)" %/" 6." T(H+.+" +%" 012(3'" '" %/" a&%.)" 3(&3H/+./-%)9" ["

-.*F(1/"3'/"*(%*F&')"+%""YhYR,09h,R,hY0;K"%):%3W5(3.*%/-%"+%"ZH%&&%&'"XY-'[.3CK"%6"

%)-.+'" ]H%" &%J()-&." *.['&" /c*%&'" +%" +%).:.&(3('/%)" 5'&G.+.)" %/" 012(3'K"

:.&-(3H6.&*%/-%"+H&./-%"%6" :%&('+'"+%6"]H%"I.F6.*')!" N/-%&%).F." 3'/'3%&"%)-." &%.6(+.+"

%/"G'/.)"&H&.6%)K"/'")E6'"H&F./.)K":.&."-%/%&"H/":./'&.*."*a)".*:6('"%/"%)-%")%/-(+'K"["

FH)3.&"6.":')(F(6(+.+"+%"%/-&%L()-.&"."*.+&%)K":%&'"-.*F(1/"."%):').)"["I%&*./.)!"

",)-.")%JH/+.":')(F(6(+.+"-HL'"]H%")%&"+%)3.&-.+.":'&"+(5(3H6-.+%)".)'3(.+.)"."6')"

3'/-.3-')"["."6')"-(%*:')d".H/.+'"."%66'K"6.)"3H%)-('/%)"+%")%JH&(+.+"&%6.3('/.+.)"3'/"%6"

36(*.":'6W-(3'"+%"ZH%&&%&'!"R.+'"%6"-(%*:'"6(*(-.+'"3'/"%6"]H%")%"3'/-.F.":.&."&%.6(G.&"6.)"

;" Y)'3(.3(E/"+%"h.*(6(.&%)"+%"R%-%/(+')K"R%).:.&%3(+')"["yW3-(*.)"+%"y('6.3('/%)"."R%&%3I')"mH*./')"%/"

012(3'" XYhYR,0C!" R%)+%" #<;;" %)-." .)'3(.3(E/" %)" *(%*F&'" +%" 6." h%+%&.3(E/" D.-(/'.*%&(3./." +%"Y)'3(.3('/%)" +%" h.*(6(.&%)" +%" R%-%/(+')" R%).:.&%3(+')K" h,R,hY0K" '&J./()*'" ]H%" 3'/" )%+%" %/"y%/%GH%6.K"3'/5'&*.+'":'&"#A"'&J./(G.3('/%)"+%"##":.W)%)"6.-(/'.*%&(3./')!"Y")H"L%GK"YhYR,0"%)":.&-%"+%" H/." &%+" +%" *a)" +%" A8" '&J./(G.3('/%)" /'" JHF%&/.*%/-.6%)" +%" +%&%3I')" IH*./')!" XiaJ(/." j%F"YhYR,0K"3'/)H6-.+."%6"#="+%"/'L(%*F&%"+%"=8#8C

12

%/-&%L()-.)"["6.)"+(5(3H6-.+%)"%2-&."]H%"IHF(%&."3'/66%L.+'"%6"-&.F.b'"%/"ZH%&&%&'K")%"':-E"

:'&".3'-.&"6')"%/-&%L()-.+')"X%/-&%L()-.+.)C"."(/-%J&./-%)"+%6"T'*(-1"o,H&%p.q!"

,6".33%)'"."+(3I'"3'*(-1"5H%":')(F6%":&(*'&+(.6*%/-%"J&.3(.)"."6."3%&3./W."]H%")%"

-%/W.":&%L(.*%/-%"3'/"*(%*F&')"+%"6."'&J./(G.3(E/"m!N!n!Q!V!"Xm(b')":'&" 6." N+%/-(+.+"[" 6."

nH)-(3(." 3'/-&." %6" Q6L(+'" [" %6" V(6%/3('C!" Y" :.&-(&" +%6" -&.F.b'" ./-%&('&" 3'/" %)-." c6-(*."

'&J./(G.3(E/K" )%"%)-.F6%3(E":.&.6%6.*%/-%"3%&3./W."[" 5.*(6(.&(+.+"3'/".6JH/')"*(%*F&')"

+%6" T'*(-1" ,H&%p.K" :.&-(3H6.&*%/-%" 3'/" ]H(%/" %/" %6" :&%)%/-%" -&.F.b'" 5H/J(E" 3'*'" %6"

3'/-.3-'" 36.L%!" Z&.3(.)" .6" .:'['" [" +():')(3(E/" +%" V.&."m%&/a/+%GK"*(%*F&'" +%6" T'*(-1"

o,H&%p.qK" %):')." +%" P.5.%6" P.*W&%G" RH.&-%K" +%).:.&%3(+'" %/" #<??" 9." ]H(%/" .J&.+%G3'"

(/5(/(-.*%/-%" :'&" )H" 3'/5(./G." %/" *W" +%:')(-.+.9" :H+'" %)-.F6%3%&)%" 3'/-.3-'" 3'/" 6.)"

^+'`.)_" %/-&%L()-.+.)" %/" %)-." (/L%)-(J.3(E/!" ,/" H/" :&(*%&" *'*%/-'" (F./" ." &%.6(G.&)%"

%/-&%L()-.)"."+')"*.+&%)"["+')"I%&*./.)"+%"+%).:.&%3(+')!"P%):%3-'"."6.)"+')":&(*%&.)K"

H/'" +%" 6')" :&(/3(:.6%)" 3&(-%&(')" +%" )%6%33(E/" 5H%" %6" I%3I'" +%" ]H%" )%" -&.-.&." +%" I(b.)"

+%).:.&%3(+.)K"["/'"+%"I(b')!"m.["H/"(*.J(/.&('"")'3(.6"5H%&-%"+%"6."5(JH&."+%6"+%).:.&%3(+'"

3'*'"+%"J1/%&'"*.)3H6(/'!"|"*%":.&%3(E"(/-%&%)./-%"&'*:%&"3'/"%)-."(+%."[":&%)%/-.&"%6"

3.)'" +%" +')" +%).:.&%3(+.)" :'6W-(3.)!" <" P%):%3-'" ." 6.)" I%&*./.)K" )%" 3'*%/GE" ." I.3%&"

:&(*%&'" 6." I()-'&(." +%" L(+." +%" H/." +%" %66.)" [" +%" 6.)" +')" *.+&%)K" [" :.&.6%6.*%/-%" )%"

3'*%/GE" ." I.3%&" 6.)" -&./)3&(:3('/%)" [" %6" ./a6()()" +%" 6.)" %/-&%L()-.)!" " T'/" 6." )%JH/+."

I%&*./.K")%"&%.6(GE"6."I()-'&(."+%"L(+."3.)("I.)-."%6"5(/.6K":%&'K".":%).&"+%"]H%"IHF'"*H3I."

+():')(3(E/" :.&." 66%L.&" ." 3.F'" 6.)" %/-&%L()-.)K" %/" H/." c6-(*." )%)(E/" )%" :%&3(F(E" 3(%&-'"

3./)./3('" %/" %6" &%6.-'K" .)W" ]H%" 6." I()-'&(." +%" L(+." 3'*'" -.6" /'" :H+'" 3%&&.&)%" 3'*'"

(+%.6*%/-%")%":&%-%/+W.!"T.F%".36.&.&"]H%":'&"3H%)-('/%)"+%"-(%*:'"9+%"/(/JH/."*./%&."

:'&" /'" 3'/)(+%&.&)%" L.6(')'" %)-%" 3.)'9" [" .6" L%&" ]H%" 6.)" '-&.)" %/-&%L()-.)" :'+W./" :'&" )W"

*()*.)".&&'b.&"*H3I."&(]H%G."+%"(/5'&*.3(E/K")%"':-E":'&"/'"(/-%J&.&"%6"./a6()()"+%"%)-."

c6-(*."I()-'&(.".6":&%)%/-%"-&.F.b'!"#8""

<" ^V("3%&&.*')"6')"'b')K"I.["H/."(*.J%/"]H%"+'*(/."6."%)3%/."kIH*./.l"+%"6.)"+(3-.+H&.)4"6.)"0.+&%)"+%"

i6.G."+%"0.['"["'-&.)"*Hb%&%)K"h.*(6(.&%)K"YFH%6.)K"y(H+.)K"T'*.+&%)"+%"+%-%/(+')9+%).:.&%3(+')"'"+%":&%)')":'6W-(3')K"&%36.*./+'"["FH)3./+'".")H)""I(b')"X%/"6."(*.J%/K"3.)(")(%*:&%"L.&'/%)CK".")H)"*.&(+')"'"3'*:.`%&')K".")H)"/(%-')!_"Xn%6(/K"=88#4"<<C"

"#8" R%"3H.6]H(%&"*./%&.")%"-'*E"6."+%3()(E/"+%"%/-&%J.&"%6"*.-%&(.6"-&./)3&(-'"."%)-."%/-&%L()-.+.!!

13

"

Y)W":H%)K"6.":&(/3(:.6"5H%/-%"+%"(/5'&*.3(E/K"&%3.F.+."%/"H/":%&('+'"+%"-&.F.b'"+%"3.*:'"

+%" .:&'2(*.+.*%/-%" B" *%)%)K" )%" 'F-HL'" +%" 6." &%.6(G.3(E/" +%" I()-'&(.)" +%" L(+." +%" @"

*Hb%&%)"+%6"T'*(-1"o,H&%p.q4"+')"*.+&%)"["H/."I%&*./."+%"+%).:.&%3(+'M.)":'6W-(3'M.)"

*%2(3./'M.)K"+%-%/(+'M.)"%/"%6":%&('+'"+%6"$%&&'&()*'"+%",)-.+'"+%"6."+13.+."+%"6')"?8"["

;8d":.&-(3H6.&*%/-%"+H&./-%"%6")%2%/('"+%"DE:%G"i'&-(66'!""

S/."+%"%66.)"L(L%"%/"iH%F6.K"'-&."%/"%6",)-.+'"+%"012(3'"X'&(H/+."+%"0(3I'.3a/C"["

6."c6-(*.".6"O'&-%"+%6"R!h!"X'&(J(/.&(."+%"Q.2.3.C!"V%"&%.6(G.&'/"%/-&%L()-.)".":&'5H/+(+.+"

X@")%)('/%)"3'/"6.":&(*%&."*%/3('/.+.K"["="3'/"3.+."H/."+%"6.)"c6-(*.)d"3'/"H/"-'-.6"+%"?"

)%)('/%)CK")%*(9%)-&H3-H&.+.)K"%/"6.)"]H%")%"6%)":%+W."+(L(+(&")H"L(+."%/"%-.:.)K"HF(3./+'"

6')":%&)'/.b%)"["6')"*'*%/-')"*a)")(J/(5(3.-(L')"+%"3.+."H/."+%"%66.)!"D.)"%/-&%L()-.)")%"

66%L.&'/"."3.F'"%/")H)"&%):%3-(L')"I'J.&%)"[" 5H%&'/"J&.F.+.)"F.b'"%6"3'/)%/-(*(%/-'"+%"

6.)" %/-&%L()-.+.)" [K" :')-%&('&*%/-%" -&./)3&(-.)##!" D." +%3()(E/" +%" :'/%&" )H)" /'*F&%)" 5H%"

)H[."XL1.)%"./%2'"#":.&."3'/)H6-.&"6."JHW."J%/%&.6"["6')"&HF&')"."3HF&(&":.&."%)-&H3-H&.&"["

3'/+H3(&""6."%/-&%L()-.C!""

P%-'*./+'"." VI.}" X%/"$.[6'&" ["z'J+./K" #<;?CK" 6." I()-'&(."+%" L(+."%)"H/."+%" 6.)"

I%&&.*(%/-.)" *%-'+'6EJ(3.)" +%/-&'" +%" 6.)" 3(%/3(.)" )'3(.6%)" ]H%" :%&*(-%" H/." *.['&"

3%&3./W."["3'*:&%/)(E/"+%"6."5'&*."+%"L%&"%6"*H/+'"+%"6')")Hb%-')!"^D.)"I()-'&(.)"+%"L(+._K"

%/":.6.F&.)"+%"$.[6'&"["z'J+./K"^&%:&%)%/-./"H/."&(3."5H%/-%"+%"3'*:&%/)(E/"%/"[":'&")W"

*()*.)!_" X$.[6'&" w" z'J+./" #<;?4" #87C!" D')" -%)-(*'/(')" )'/" H/." 5H%/-%" 36.L%" :.&."

.+%/-&.&)%"."&%.6(+.+%)")'3(.6%)K"*a)")(")%"-&.-."+%"I()-'&(.)"+%"&%:&%)(E/"]H%":&%-%/+%/"

)%&".3.66.+.)"["':.3.+.)":'&"H/."I()-'&(."'5(3(.6" (*:H%)-."["]H%"*H%)-&."'-&."3.&."+%" 6."

&%.6(+.+"X'-&."*a)"3'/L%/(%/-%"["*%/')"(/3E*'+.C!",6"*.['&".:'&-%"+%"6."I()-'&(."'&.6""I."

)(+'"+.&6%"6HJ.&".".]H%66.)"L'3%)"]H%K"+%"'-&."*./%&.K"IHF(%&./"]H%+.+'")(/"%)3H3I.&)%K"

%/"%6"'6L(+'!" Xj''+"w"z6''&K"=887C!"Y+%*a)K"I.F6./+'"+%" 6.)"%/-&%L()-.)"3H.6(-.-(L.)"%/"

:&'5H/+(+.+"X3'*'"6'"%)" 6."I()-'&(."+%"L(+.CK":'+%*')"3'*:.&-(&" 6'"]H%"$.[6'&"["z'J+./"

##" V%"I(G'"6."-&./)3&(:3(E/"6'"*a)"6(-%&.6":')(F6%K"(/36H[%/+'"&%:%-(3('/%)K"*H6%-(66.)"["./'-.3('/%)"+%""

(/-%&&H:3('/%)K" .6JH/')" J%)-')" :.&.6(/J~W)-(3')" )(J/(5(3.-(L')K" (/56%2('/%)K" %)-.+')" %*'3('/.6%)"X66./-'K"]H(%F&%"+%"L'GK"%-3!C!"V(/"%*F.&J'K" 6.)"%/-&%L()-.)"3'*'"-.6K":'&" 6." 6'/J(-H+"[" 6')"'Fb%-(L')":%&)%JH(+')K"/'")%"(/36H[%&'/"%/")H"-'-.6(+.+d")E6'".6JH/')"5&.J*%/-')"6(J.+')".6"-%2-'"3'/"%6"5(/"+%")H)-%/-.&"6.)"(/-%&:&%-.3('/%)"["6'"+(3I'"-%E&(3.*%/-%!"

14

.5(&*./4")H")%66'".H-%/-(3.+'&"^%)"%6".:&%/+(G.b%")'F&%"6'"]H%"%)"(*:'&-./-%"%/"6."*%/-%"

+%"6')"(/5'&*./-%)4")H)")(J/(5(3.+')K":%&):%3-(L.)"["+%5(/(3('/%)d"%6"*'+'"%/"]H%"%66')"L%/K"

36.)(5(3./"["%2:%&(*%/-./"%6"*H/+'!_"X$.[6'&"w"z'J+./K"#<;?4"##BC"|"%)"%)-'"c6-(*'K"%)-."

:%&):%3-(L." )HFb%-(L." +%" *(&.&" 6." :1&+(+." +%" )H)" )%&%)" ]H%&(+')" :'&" 6." +%).:.&(3(E/"

5'&G.+.K"6'"]H%"(/-%&%).":&(*'&+(.6*%/-%"%/"%6":&%)%/-%"-&.F.b'!"

"SF(3'"B"5.3-'&%)"]H%":(%/)'"]H%"&%)H6-.&'/"&%6%L./-%)":.&."5.3(6(-.&"%6"56H(&"+%"6.)"

%/-&%L()-.)" X:.&." I.3%&6.)K" +(&W." ['K" %/-&%L()-.)" %2(-').)Cd" '" F(%/" ]H%" )'/" (*:'&-./-%)" ."

3'/)(+%&.&":'&"-%/%&"(/56H%/3(."%/"6."5'&*.K"6."(/-%/3(E/"["%/"%6"3'/-%/(+'"+%"6."/.&&.-(L."

+%"%)-.)"*Hb%&%)!"0H3I')"+%"1)-')" 5H%&'/"-.*F(1/"%2:H%)-')":'&"DH+*(6."T.-%6."%/"H/"

.&-W3H6'" ]H%" I.F6." )'F&%" 3H%)-('/%)" *%-'+'6EJ(3.)" &%6.3('/.+.)" 3'/" %/-&%L()-.)" ."

5.*(6(.&%)"+%"+%).:.&%3(+')4"""

,/":&(*%&"6HJ.&K"6."&%5%&%/3(."]H%"6.)"%/-&%L()-.+.)"-HL(%&'/"+%"*W"X%6"3'/"]H(1/"'"

]H(1/%)"*%".)'3(.F./C!",6")%&"H/"*(%*F&'"(*:'&-./-%"+%6"3'*(-1"X["H/.":%&)'/."5.*(6(.&"["

+%" -'-.6" 3'/5(./G." :.&." %66.)C" ]H(%/" *%" :&%)%/-E" [" 3'/-.3-EK" %)-.)" -&%)" *Hb%&%)" *%"

.F&(%&./" 6.)" :H%&-.)K" -./-'" +%" )H)" 3.).)K" 3'*'" +%" )H)" &%3H%&+')" [" *%*'&(.)" X6.)" *a)"

.6%J&%)"["6.)"*a)"+'6'&').)C!"|"%)-%"^L'-'_"+%"3'/5(./G.":'&")H":.&-%"5H%":&(*'&+(.6":.&."%6"

)"$$()&# " ]H%" :H+'" %)-.F6%3%&)%" 3'/" %66.)K" %6" 3H.6" /H-&(E" +%" (/5'&*.3(E/" [" &(]H%G." 6.)"

%/-&%L()-.)!"z(%/"6'"*%/3('/."DH+*(6."T.-%6.4"^Y)W"%/"H/"*%+('"+'/+%"6."+%)3'/5(./G.K"%6"

*(%+'K":%&'"5H/+.*%/-.6*%/-%"%6"H)'"]H%":H%+%"66%J.&"."I.3%&)%"+%"H/."%/-&%L()-."%)-a/"

:&%)%/-%)K"%6")E6'"I%3I'"+%"/'*F&.&".":%&)'/.)"+%6"*H/+'"+%6"%/-&%L()-.+'"*.&3./"H/."

+(5%&%/3(."/'-'&(."%/"%6":&(*%&"3'/-.3-'_!" XT.-%6.K"=8884"?#C",6" )%&"V.&."*(" &%5%&%/3(."[K"

.+%*a)K"%6".)'3(.&*%"+%".6JH/."*./%&."%)-.)"*Hb%&%)"3'/"6."'&J./(G.3(E/"m!N!n!Q!V!K" 5H%"

36.L%!"i(%/)'"]H%"*(":%&)'/."5H%"HF(3.+."%/"%6"6HJ.&"+%""^3'*:.`%&._"X'")(*:.-(G./-%C"+%"

6H3I.K"["%)-'":'&")H:H%)-'"-HL'"]H%"-%/%&"H/"(*:.3-'"%/"6."5'&*."+%"+(&(J(&"["/.&&.&")H)"

I()-'&(.)!""

,6")%JH/+'"5.3-'&"%)"*(":&':('"J1/%&'!"T&%'"]H%" 6.".:%&-H&."[")'6-H&."3'/" 6."]H%"

%)-.)" -&%)" *Hb%&%)" &%6.-.&'/"*H3I.)" +%" )H)" %2:%&(%/3(.)" *a)" W/-(*.)K" %)" +(5W3(6" ]H%" )%"

IHF(%&./":'+(+'"+.&"+%"/'"%2()-(&"H/."(+%/-(5(3.3(E/"J%/1&(3.!""

15

0(" %+.+K" :'&" '-&'" 6.+'K" -HL'" '-&'" :.:%64" 3'*'" -.*F(1/" +(3%" DH+*(6." T.-%6.K"

^-.*F(1/" 3'/L'3.F." %/-H)(.)*'" :'&" %6" I%3I'" +%" ]H%" H/." b'L%/" )%" (/-%&%).&." :'&" %6"

-%*._!"XT.-%6.K"=88#4"?#C""

,6"3H.&-'"["c6-(*'"+%" 6')"%6%*%/-')"]H%"3'/)(+%&'" (*:'&-./-%"."*%/3('/.&K"%)"%6"

36(*." " )'3(.6"[":'6W-(3'K"%6" 3'/-%2-'"I()-E&(3'"%/"%6"]H%")%" &%.6(G.&'/" 6.)"%/-&%L()-.)!"�)-%"

:H+'" I.F%&" bHJ.+'" ." 5.L'&" %/" 3(%&-'" )%/-(+'4" %)-.)" *Hb%&%)" %)-a/" I.F6./+'" %/" H/"

*'*%/-'"["+%)+%"H/"*'*%/-'"I()-E&(3.*%/-%"+()-(/-'".6"*'*%/-'"+%"6."+%).:.&(3(E/"+%"

)H)"5.*(6(.&%)K"F.b'"%6"3'F(b'"+%"H/"+()3H&)'"[."6%J(-(*.+'!"O'"-./-'"(/)-(-H(+'"3'*'"H/."

L%&+.+")'3(.6"%"I()-E&(3.K"/("3'6%3-(L(G.+."/(":cF6(3."."J&./"%)3.6.d"-.*:'3'".)H*(+.":'&"%6"

J&H%)'"+%"6.":'F6.3(E/!"i%&'")W"+%)+%"%)-%"+()3H&)'"[."+(3I'K"[."6%J(-(*.+'d":&(*%&'"+%)+%"

%6" 3W&3H6'" )'3(.6" (/*%+(.-'K" )H" J&H:'93'*H/(+.+" XT'*(-1" o,H&%p.qCK" ]H%" 66%L.K" :.&." %)-%"

%/-'/3%)K"3.)("@8".`')"+%"3'/5'&*.+'K"%/"+'/+%"%)-%"+()3H&)'")%"3'/)-&H[E"["3'/)'6(+EK"["

%6"]H%"6'J&."]H%"6."5(JH&."+%6"+,-"$"),8.+(#$(%W&.8(#)%."&%3'/'3(+.!!"|")%JH/+'K"6%J(-(*.+'"

-.*F(1/":'&"'&J./()*')"+%"+%&%3I')"IH*./')"X/H/3."3'/"-'+.)")H)"6%-&.)":'&"%6",)-.+'C!"

,)-'".H/.+'".""6."6%b./W."-%*:'&.6"X.6"*%/')"+%"%)-.)"+%).:.&(3('/%)"\+%"6."+13.+."+%"6')"

?8"[";89"+%"6.)"]H%"I.F6.*')KC"["%6"+%)6(/+%"+()3H&)(L'"+%"6')"&%JW*%/%)":'6W-(3')".3-H.6%)"

+%" 6')"+%".]H%6"%/-'/3%)K"+%" 6')"+%" 6."*.6" 66.*.+."^ZH%&&."VH3(._K"I./":%&*(-(+'"3(%&-."

6(F%&-.+"+()3H&)(L.!"Y+%*a)K"."-./-'"%)-.)"*Hb%&%)")%"I./"%2:H%)-'"[."%/" 6')"*'*%/-')"

*a)"a6J(+')K"+%6(3.+')"["3'*:&'*%-%+'&%)K"]H%"[.K"I'["+W.K"6'"+%"*%/')"X%/"3H%)-(E/"+%"

&(%)J')C"9:%&'"."6."L%G"6'"*a)"(*:'&-./-%":.&."%66.)"%/"3H%)-(E/"+%"L%&+.+"["+%"*%*'&(.9"

%)" I.F6.&" +%6" -%*.!" ,/" %6" 3(%&&%" +%" 6.)" %/-&%L()-.)" )%" +('" H/" %):.3('" 5H%&." +%6" &%J()-&'"

5'&*.6":.&."]H%"*./(5%)-.&./")H)" (*:&%)('/%)"["%*'3('/%)"L(L(+.)"+H&./-%" 6.)" )%)('/%)"

+%" %/-&%L()-.!" |" 6.)" -&%)" *Hb%&%)" 3'(/3(+(%&'/" %/" H/" )%/-(*(%/-'" +%" )(/3%&'"

.J&.+%3(*(%/-'":'&"*("(/-%&1)"%/"%6"-%*."["6."+():')(3(E/"+%"%)3H3I.&")H)"I()-'&(.)!"

"i.&." 3'*:6%*%/-.&" [" %/&(]H%3%&" 6.)" 5H%/-%)" '&.6%)" X-%)-(*'/(.6%)CK" )%" &%.6(GE"

%-/'J&.5W." .3'*:.`./+'" ." 6.)" %/-&%L()-.+.)" ." .6JH/.)" +%" )H)" .33('/%)!" RH&./-%" %)-')"

3H.-&'"*%)%)"+%"-&.F.b'"+%"3.*:'K"%"(/36H)'"+H&./-%"%6":%&('+'"+%"%)3&(-H&."+%"6."-%)()K")%"

.)()-(E".6"*%/')"B"L%3%)"."6.)":.&.+.)"*%/)H.6%)"5&%/-%"."6."VH:&%*."T'&-%"+%"nH)-(3(."+%"

6."O.3(E/"]H%"I.3%/".6JH/.)"+'`.)"+%6"T'*(-1"o,H&%p.q"bH/-'"3'/"6."'&J./(G.3(E/"m!N!n!Q!V!"

16

:.&." %2(J(&" 6." :&%)%/-.3(E/" +%" 6')" +%).:.&%3(+')" :'6W-(3')d" -.*F(1/" )%" .)()-(E" ." H/"

%)3&.3I%#=" .6" T.*:'" 0(6(-.&" O&!#K" " [" ." +')" &%H/('/%)" +%" 3'&-%" *a)" (/5'&*.6" [" +%"

3'/L(L%/3(.K" +'/+%" -HL%" ':'&-H/(+.+" +%" :6.-(3.&" [" -%/%&" H/" :./'&.*." +%" )H" 5'&*." +%"

(/-%&.3-H.&" 5H%&." +%" 3'/-%2-')" +%" %/-&%L()-." 5'&*.6" J&.F.+." [" +%" .33(E/" :'6W-(3.!" ,/" %6"

3.)'"+%"Y(3%6."XI%&*./."+%"y.6%/-W/"h%&/a/+%G"Ä.*'&.K"+%).:.&%3(+'CK"]H%"&%)(+%"%/" 6."

3(H+.+"+%"iH%F6.K")%"*%"+('"I'):%+.b%"%/")H"3.).!"$'+'"6'"./-%&('&":%&*(-(E"3'/'3%&"'-&.)"

+(/a*(3.)"I'J.&%`.)K"5.*(6(.&%)"["3'-(+(./.)"]H%K")("F(%/"/'")'/"+%)3&(-.)"X:'&"&%):%-'"["

3'/5(+%/3(.6(+.+C" [" /'" .:.&%3%/" %/" 6.)" %/-&%L()-.)" /(" %6" 3H%&:'" +%" 6." -%)()" 3'*'" -.6K" )W"

(/56H[%&'/"%/"6."5'&*."+%"*(&.&"%"(/-%&:&%-.&"6.)"I()-'&(.)"+%"L(+.!""

V%" I(G'" -.*F(1/K" :&(/3(:.6*%/-%" :.&." 6." %6.F'&.3(E/" +%6" 3'/-%2-'" I()-E&(3'" [" %6"

-%E&(3'K"-&.F.b'"+'3H*%/-.6!"

"

V(" F(%/" %)-." (/L%)-(J.3(E/" :&%-%/+%" 3'/'3%&" %6" *H/+'" +%" L(+." +%" 5.*(6(.&%)" +%"

+%).:.&%3(+')" :'6W-(3')" *%2(3./')" .5%3-.+'" :'&" %)-." *%+(+." &%:&%)(L." :'&" :.&-%" +%6"

,)-.+'K" )%&W." ':'&-H/'K" :&(*%&'K" %/-%/+%&" ]H1" %)" .]H%66'" ]H%" )%" %)-a" &%:&(*(%/+'K"

]H(1/%)")'/"6.)"LW3-(*.)"+(&%3-.)"+%"%)-."&%:&%)(E/"["]H(1/%)"6.)"^3'6.-%&.6%)_!"i.&."%66'")%"

66%LE" ." 3.F'K" %/" H/" :&(*%&" 3.:W-H6'" XT.:W-H6'" #CK" H/" F&%L%" &%3H%/-'" +%" 6." I()-'&(." +%6"

$%&&'&()*'"+%",)-.+'"%/"012(3'"+H&./-%"6."c6-(*."*(-.+"+%"6')"78K"6')"?8"[":&(/3(:(')"+%"

6')";84"H/.":%]H%`."&%L()(E/"I()-E&(3."+%"6.)"JH%&&(66.)"&H&.6"["H&F./."["+%")H)"5'&*.)"+%"

&%:&%)(E/":'&":.&-%"+%6",)-.+'"X%6"6(F&'"+%"D.H&."T.)-%66./')K":;<.8(#R)*"+(K")%"H-(6(GE"/'"

3'*'"c/(3.K":%&'")W"3'*'"F.)%":.&."%)-&H3-H&.&"%6"-%2-'"3&'/'6EJ(3.*%/-%Cd"H/."&%56%2(E/"

.3%&3."+%6"-(:'"+%"L('6%/3(."+%",)-.+'"+%"6."]H%")%"I.F6."%/"012(3'"XT.&6')"0'/-%*.['&"

%)"H/'"+%"6')"./.6()-.)"*a)"3&W-(3')"]H%"&%)H6-E"+%"J&./".[H+."3'*:&%/+%&"6.":&'F6%*a-(3."

)'3(':'6W-(3."%/"6."]H%"6."L('6%/3(."+%",)-.+'"%/"012(3'")%"3'/)-&H[%"[")%".H-'6%J(-(*.Cd"H/"

.3%&3.*(%/-'"." 6'"]H%"%)":&':(.*%/-%" 6."+%).:.&(3(E/"5'&G.+."+%":%&)'/.)"9)H)".3-'&%)K"

#=" ^,6"L%&F'"k%)3&.3I.&l"%)"H-(6(G.+'":'&":&(*%&."L%G":'&"6."'&J./(G.3(E/"+%"m!N!n!Q!V!"\Y&J%/-(/."["%6""

k%)3&.3I%l" %)" H/." :&a3-(3." :'6W-(3." '&(J(/.6" [" 3&%.-(L." ]H%" 3'/)()-%" %/" 6'3.6(G.&K" (&" ." FH)3.&" ." )H)":&':(')"%):.3(')K"."6')"&%:&%)'&%)"X-'&-H&.+'&%)K".)%)(/')K"&%):'/).F6%)"+%"6."&%:&%)(E/K"%-31-%&.CK"%2:'/%&6')K")%`.6.&"6."3.)."+'/+%"L(L%/K"%"(/5'&*.&"."6."3'*H/(+.+"L%3(/."]H(1/"%)"%).":%&)'/."["+%" ]H1" )%" 6%" .3H).!" $'+'" %)-'" )%" I.3%K" :.&.+Eb(3.*%/-%K" %/" 5'&*." 5%)-(L." [" 3.&/.L.6%)3.!_" XR%"y%33I("w"ZE*%GK"=88;4"<=C

17

)H)" 'Fb%-(L')9K" .)W" 3'*'" -.*F(1/" H/." &%3'/)-&H33(E/" +%" 3E*'" %)" ]H%" /H%L')" .3-'&%)"

)'3(.6%)K"'&J./(G.3('/%)"+%"5.*(6(.&%)")H&J%/"%/"%)-%"3'/-%2-'"+%"&%:&%)(E/K"(*:H/(+.+"%"

(/bH)-(3(.d" [K" 5(/.6*%/-%K" %6" (*:.3-'" ]H%" I./" -%/(+'" %)-')" c6-(*')" J&H:')" %/" %6" a*F(-'"

)'3(.6"[":'6W-(3'"+%"/H%)-&'":.W)"X["%/")H")()-%*."+%"^bH)-(3(._C!""

"" ,/" 012(3'" %2()-%/" *a)" +%" *(6" +%).:.&%3(+')" :'6W-(3')" [K" :'&" -./-'K" *(6%)" +%"

I'J.&%)"["5.*(6(.)".5%3-.+')":'&"%)-."*%+(+."&%:&%)(L.":'&":.&-%"+%6",)-.+'!"V%"-&.)-'3."%6"

*H/+'"+%"*H3I.)"*.+&%)K":.+&%)K"%):').)K"%):')')K":.&%b.)K"I%&*./.)K"I%&*./')K"I(b.)"

%"I(b')"+%"+%).:.&%3(+')K"["[."/'"LH%6L%"/H/3.".")%&"%6"+%"./-%)!"V(/"%*F.&J'K"/'"-'+')"

%)-')"5.*(6(.&%)"^':-./_":'&"(/-%J&.&)%"."6."6H3I.":'&"6')"+%).:.&%3(+')!"V'/"6')"*%/')K"H/"

*H[" :%]H%`'" :'&3%/-.b%K" 6')" ]H%" ^+%3(+%/_" I.3%&6'!" i'&" %6" -(:'" +%" (/L%)-(J.3(E/K" [" 6'"

.3'-.+'"+%"6.":'F6.3(E/"3'/"6."]H%")%"-&.F.bEK")%&a"+(5W3(6"%/-%/+%&"]H1"%)" 6'"]H%":.)."["

3E*'" )%" L(L%" %)-'" %/" 6.)" 5.*(6(.)" /'" .+I%&(+.)" ." .6JH/." 6H3I.K" ." .6JH/." '&J./(G.3(E/!"

T'*:&%/+%&" %)-%" ':-.&K" %)-." +%3()(E/K" 6.)" 3'/+(3('/%)" [" :')(F(6(+.+%)" ]H%" 66%L./" ." 6."

*(/'&W." ." I.3%&6'K" %2:6'&.&" 3E*'" )%" .&-(3H6./" 6.)" I()-'&(.)" :%&)'/.6%)" 3'/" 6.)" /H%L.)"

5'&*.)"+%"'&J./(G.3(E/K"3E*'")%"L(/3H6."6'")HFb%-(L'"3'/"6'":'6W-(3'K"%)":&%3().*%/-%"H/'"

+%"6')":&(/3(:.6%)"'Fb%-(L')"+%6":&%)%/-%"-&.F.b'K"["+%"6')"T.:W-H6')"="["@!""

,6":&(*%&'"+%"1)-')"X9%#*50+(#+,#7.+"#"0&,-#+,#%"#+,-"$").8./0C"(/-%/-.&a":&%)%/-.&"

:&%3().*%/-%"%6"3'/-%2-'"+%"%)-.)"-&%)"*Hb%&%)"X-(:'"+%"5.*(6(.K"+%"&%6.3(E/"+%":.&%b.K"&'6"

5.*(6(.&K" &%6.3('/%)" +%" :'+%&" +%/-&'" +%" )H)" 5.*(6(.)K" &%6.3(E/" 3'/" %6" +%).:.&%3(+'K"

'3H:.3(E/K" &%+%)" )'3(.6%)" :&%2()-%/-%)" +%" .:'['" %/" 6." Fc)]H%+." (/(3(.6K" 5'&*.)" +%"

)'3(.6(G.3(E/"J%/1&(3.K"-&.[%3-'&(."+%":.&-(3(:.3(E/":'6W-(3.K"%-3!C!"V%"+(&(J%"6."*(&.+."I.3(."

6." (/5./3(.K" 6." -&.[%3-'&(." %+H3.-(L." [" 6.)" &%6.3('/%)" 5.*(6(.&%)" +%" %)-.)" *Hb%&%)K"

&%:&%)%/-./+'" %)-.)" %)5%&.)" 6." :6.-.5'&*." :.&." :')-%&('&*%/-%" :'+%&" 66%J.&" ."

3'*:&%/+%&" 6'" ]H%" %/" %6" T.:W-H6'" @" Xb56D,&.7.+"+# C# $(%W&.8"C" )%" (/-%/-.&a" .&-(3H6.&4" %6"

LW/3H6'"+%"%)-.)"I()-'&(.)" [" 3'/-%2-')" (/+(L(+H.6%)" " 3'/" 6." 5'&*."+%"L(L(&" 6."+%).:.&(3(E/"

5'&G.+."+%")H)"5.*(6(.&%)"["6.":')-%&('&".+I%)(E/"."H/."'&J./(G.3(E/":'6W-(3.!",/-%/+%&K".)W"

%6" :.:%6" ]H%" 6."*.-%&/(+.+K" 6." 5.*(6(." [" 6')" &'6%)" .)(J/.+')" .6" (/-%&('&" +%" %66." -(%/%/"%/"

%)-')" :&'3%)')" )HFb%-(L')!" ,/" :'3.)" :.6.F&.)K" ./.6(G.&" %6" (*:.3-'" +%" 6." +%).:.&(3(E/"

18

5'&G.+." %/" %)-.)" -&%)" *Hb%&%)K" .)W" 3'*'" 6.)" *.&3.)" :'6W-(3.)" [" )'3(.6%)" :&':(.)" +%" 6."

:.&-(3(:.3(E/"%/"%6"T'*(-1"o,H&%p.q!""

"

S/'" +%" 6')" :&(/3(:.6%)" :&':E)(-')" +%" %)-." -%)()" %)" %/3'/-&.&" 9" '" .6" *%/')" L()6H*F&.&" 9""

.6JH/." )H%&-%" +%" :H%/-%" %/-&%" 6'" *.3&'" [" 6'" *(3&'K" %/-&%" 6'" %)-&H3-H&.6K" 6'" )'3(.6" [" 6'"

(/+(L(+H.6K"%/-&%" 6'":'6W-(3'"[" 6'")HFb%-(L'>",3I.&" 6HG")'F&%"%)-.":.&-%"+%" 6')"^I%3I')_K"."

%)-.)"I()-'&(.)":.&-(3H6.&%)"+%" (/+(L(+H')"]H%"*H3I.)"L%3%)"]H%+./"'6L(+.+.)K":%&'"]H%"

)'/":.&-%" 5H/+.*%/-.6" +%" 6."m()-'&(." [" 6."0%*'&(."+%"%)-%":.W)!" T.F%K" %/"%)-%" )%/-(+'K"

I.3%&"H/"*%&%3(+'"&%3'/'3(*(%/-'"."%)-.)"I()-'&(.)"+%"6H3I."["%/-&%J.K"["I.3%&"1/5.)()"%/"

*(":%&)'/.6"[":&'5H/+.".+*(&.3(E/"."-'+.)"6.)"R'`.)"+%6"T'*(-1"o,H&%p.qK":'&")H"%/-&%J.K"

:%&)%L%&./3(.K"L.6'&K" 5H%&G."%" (/3./).F6%" 6H3I.d"H/":.&-(3H6.&".J&.+%3(*(%/-'"."V.&.K":'&"

.F&(&*%" 6.)" :H%&-.)K" :'&" )H" %/-H)(.)*'K" .:'['" [" 3'/5(./G.d" [K" %):%3(.6*%/-%K" ." Y3%6.K"

P%[/.K"Y(3%6."["i&()3(6.K":'&"+.&*%"6."':'&-H/(+.+"+%"3'*:.&-(&"3'/"%66.)")H)"I()-'&(.)"+%"

36.&')3H&')>"+%"+'6'&K":%&'"-.*F(1/"+%".*'&"["5H%&G."(/3'*:.&.F6%)>"

"

i'&"c6-(*'K"/'"]H%+."*a)"]H%"F&(/+.&"%6"*%&%3(+'".J&.+%3(*(%/-'".6"T%/-&'"+%",)-H+(')"

VH:%&('&%)"%/"Y/-&':'6'JW."V'3(.6"XTN,VYV9R!h!CK".)W"3'*'".6"T'/)%b'"O.3('/.6"+%"T(%/3(."["

$%3/'6'JW."XTQOYT[$Cd")(/"%6".:'['"+%"+(3I.)"(/)-(-H3('/%)"%6":&%)%/-%"-&.F.b'"/'"IHF(%&."

:'+(+'")%&":')(F6%!"

19

&

TYiÅ$SDQ"#"

z&%L%"3'/-%2-'"I()-E&(3'"

$%&&'&()*'"+%",)-.+'"%/"012(3'4"5(/.6%)"+%"6')"78"9":&(/3(:(')"+%"6')";8"

&

V(" F(%/" %)-." (/L%)-(J.3(E/" :&%-%/+%" 3'/'3%&" %6" *H/+'" +%" L(+." +%" 5.*(6(.&%)" +%"

+%).:.&%3(+')" :'6W-(3')" *%2(3./')" .5%3-.+'" :'&" %)-." *%+(+." &%:&%)(L." :'&" :.&-%" +%6"

,)-.+'K" )%&W." ':'&-H/'K" :&(*%&'K" %/-%/+%&" ]H1" %)" .]H%66'" ]H%" )%" %)-a" &%:&(*(%/+'K"

]H(1/%)" 5H%&'/" X[" )(JH%/" )(%/+'C" 6.)" LW3-(*.)" +(&%3-.)" +%" %)-." &%:&%)(E/" [" ]H(1/%)" 6.)"

^3'6.-%&.6%)_!"i.&."%66'")%":&%-%/+%"I.3%&K"%/"H/":&(*%&"3.:W-H6'K"H/"F&%L%"&%3H%/-'"+%"6."

I()-'&(." +%" 6'" ]H%" )%" 3'/'3%" *%b'&" 3'*'" 6." ^ZH%&&." VH3(._" %/" 012(3'4" H/." :%]H%`."

&%L()(E/" I()-E&(3." " +%" 6')" *'*%/-')" %/" ]H%" 3(%&-.)" 5'&*.)" +%" &%:&%)(E/" :'&" :.&-%" +%6"

,)-.+'"5H%&'/":H%)-.)"%/":&a3-(3.d"H/."&%56%2(E/".3%&3."+%6"-(:'"+%"L('6%/3(."+%",)-.+'"+%"

6." ]H%" )%" I.F6." %/" 012(3'd" H/" .3%&3.*(%/-'" ." 6'" ]H%" %)" :&':(.*%/-%" 6." +%).:.&(3(E/"

5'&G.+."+%":%&)'/.)"X)H)".3-'&%)K")H)"'Fb%-(L')CK".)W"3'*'"-.*F(1/"H/."&%3'/)-&H33(E/"+%"

3E*'" %)" ]H%" /H%L')" .3-'&%)" )'3(.6%)" 9'&J./(G.3('/%)" +%" 5.*(6(.&%)9" )H&J(%&'/" %/" %)-%"

3'/-%2-'" +%" &%:&%)(E/" %" (/bH)-(3(.d" [K" 5(/.6*%/-%" %6" (*:.3-'" ]H%" -HL(%&'/" %)-')" c6-(*')"

J&H:')"%/"%6")()-%*."+%"bH)-(3(."*%2(3./'!""

"

V("F(%/"+H&./-%"6')".`')"+%"+(3-.+H&.)"6.-(/'.*%&(3./.)"+%"5(/.6%)"+%6")(J6'"xx"%/"012(3'"

/'"%2()-(E"H/."+(3-.+H&."3'*'"-.6"X[")%"I.F6.F."+%"H/"J'F(%&/'"^+%*'3&a-(3'_CK"6'"3(%&-'"

%)"]H%"6."&%:&%)(E/":'6W-(3'\*(6(-.&":'&":.&-%"+%6",)-.+'"/'"+%bE"+%"%)-.&":&%)%/-%"X)(JH%K"

.+%*a)K" +a/+')%" %/" 6." .3-H.6(+.+C!" S/" +'F6%" +()3H&)'" 3'/-&.)-E" +H&./-%" %)-." 1:'3.4"

+()3H&)')"+%".:%&-H&."["+%*'3&.3(."I.3(."%6"%2-%&('&K":'&"H/"6.+'d"3'/+(3('/%)"+%":'F&%G."

%2-&%*.K"JH%&&(66.)"(/-%&/.)".3.66.+.)K"&%:&%)(E/K"3&W*%/%)"+%"6%)."IH*./(+.+K"L('6.3('/%)"

." 6')" +%&%3I')" IH*./')K" (*:H/(+.+K" :'&" '-&'!" D." L('6%/3(." +%" ,)-.+'" [" )H"

3'&&%):'/+(%/-%K"3'/)-./-%"["+%&(L.+."(/3'/5'&*(+.+")'3(.6K"/'"+%bE"+%"%)-.&":&%)%/-%"%/"

+()-(/-.)" ^*'+.6(+.+%)_4" /'" )E6'" 3'*'" .33('/%)" &%:&%)(L.)" X+%" 3'%&3(E/" 5W)(3." '"

(+%'6EJ(3.CK" )(/'" -.*F(1/"%/"'-&')" a*F(-')4" %/":&'3%)')" %6%3-'&.6%)K" %/" .33('/%)" 3'/-&."

20

:.&-(+')":'6W-(3')" ["+(&(J%/-%)"+%"':')(3(E/K" .)W" 3'*'" -.*F(1/":'&"*%+('"+%" 6." LW." 6%J.6"

X6%[%)"3&(*(/.6(G.+'&.)"+%"6."(/3'/5'&*(+.+")'3(.6C!"&^D."L('6%/3(."+%",)-.+'"%b%&3(+."3'*'"

5&.H+%"%/"6')":&'3%)')"%6%3-'&.6%)"+%"6.)"%/-(+.+%)"5%+%&.-(L.)"."6'"6.&J'"+%6")(J6'"xx"5H%"

:%&)()-%/-%K":'&"/'"+%3(&"-%/.G"["+%5(/(-'&(."+%6")()-%*.":'6W-(3'"*%2(3./'!_"X0'/-%*.['&K"

=8#84"=#A9=#7C",)"3(%&-'"]H%"/'":H%+%"I.F6.&)%"+%"H/."+(3-.+H&."3'*'"%/"'-&')":.W)%)"

6.-(/'.*%&(3./')K":%&'"&%)H6-."+(5W3(6"I.F6.&"+%"H/."+%*'3&.3(."%/"H/":.W)"3'/"%6"-(:'"["%6"

J&.+'"+%"+%)(JH.6+.+"%/"':'&-H/(+.+%)"["+%"L('6%/3(."+%",)-.+'"3'*'"6'"%)"012(3'!",)-."

c6-(*.K""

"

,0# %(-#*(7.*.,0&(-# -(8."%,-#*,<.8"0(-# +,%# -.4%(# cc# [$")&.85%")*,0&,# +5)"0&,# %"# %%"*"+"#

d5,))"# b58."# B"J(-# ef# C# gf3[# -,# +,-$%,4/# ,0# 50"# "*$%."# 4"*"# +,# ),4.(0,-# C# -,8&(),-#

-(8."%,-# &"0&(# ,0# %(-# 8(0&,<&(-# +,# $),7,08./0?# 8(0&,08./0?# ),$),-./0# (# $,)-,858./0# +,#

$)(8,-(-# +,# .08(0'()*.+"+# -(8."%?# 8(*(# ,0# -5# 8"0"%.="8./0# 8(0&)"# 0X8%,(-# -(8."%,-#

75%0,)"6%,-?# -,8&(),-# 4),*."%,-?# ),4.(0,-# ".-%"+"-?# 8(*")8"-?# $")&.+(-# $(%W&.8(-?#

*(7.*.,0&(-#-567,)-.7(-?#*"0.',-&"8.(0,-#$($5%"),-2"X0'/-%*.['&K"=8#84"#?<C"""

n')1"V'-%6'"0.&Fa/K"+(&%3-'&"+%6"i&'[%3-'"+%"N/L%)-(J.3(E/"m()-E&(3."+%"6."h()3.6W.",):%3(.6K"

I.F6."+%"H/."+%" 6.)"+(5%&%/3(.)"+%6" " -(:'"+%" &%:&%)(E/"%/-&%"012(3'"["H/'"+%" 6')":.W)%)"

6.-(/'.*%&(3./')"+%"&1J(*%/"+(3-.-'&(.6K"Y&J%/-(/.4"

"90#,%#8"-(#+,#R)4,0&.0"#%"#),$),-./0#'5,#*"-.7"?#,0#&(+(-#%(-#0.7,%,-#+,#%"#-(8.,+"+2#R%%Y#0(#

A56(?#0(#$(+W"#A"6,)#0.0450"#*Y-8")"#+,# %,4.&.*.+"+?#0.#$()#,%#().4,0#0.#$()#,%#,D,)8.8.(#

+,%#$(+,)#$X6%.8(2#90#,%#8"-(#+,#:;<.8(#%"#),$),-./0#'5,#*Y-#-,%,8&.7"#C#*,0(-#7.-.6%,2#90#

d5,)),)(?# ,%# 9-&"+(# $5+(#*"0&,0,)# %"# h'.88./0h# +,# ]5,# $,%,"6"# 8(0# 4"7.%%"-2# 90# %"# %58A"#

8(0&)"#%"#45,)).%%"#5)6"0"#$5+(#*"0&,0,)#,%# .*"4.0").(#-(8."%#+,#]5,#"8&5"6"#$()#,%#6.,0#

8(*X0!"XV'-%6'"0.&Fa/K"%/"0'/-%*.['&K"=8#84"=A;C""""

0a)".66a"+%"(/-%/-.&"+%5(/(&".]HW"%6"-(:'"+%"&1J(*%/"*%2(3./'K"%)"(*:'&-./-%"%/5.-(G.&"6."

(/)-&H*%/-.6(+.+":.&."%6"J'F(%&/'"*()*'"+%".H-'+%/'*(/.&)%"H/"&1J(*%/"+%*'3&a-(3'K"'"

+%"/'"I.F6.&"+%"JH%&&(66."X/%J.&6.CK")(/'""+%"+%6(/3H%/3(.!"",/":.6.F&.)"+%"0'/-%*.['&4"

"V,)(# .08%5-(# ,0# $"W-,-# ]5,# $(+)W"*(-# 8(0-.+,)")# 8(*(# -(8.,+"+,-# +,# 0()*"%.+"+#

+,*(8)Y&.8"?#"# -"%7(# +,# $)(8,-(-# +,# ,<8,$8./0# 8(*(# %"-# 45,))"-# 8.7.%,-# (# %(-# 4(%$,-# +,#

9-&"+(?#-5)4,#50"#,-&)"&,4."#+,#45,))"##$")"# ,0'),0&")# ('.8."%*,0&,# +.-&.0&(-#*(*,0&(-# C#

*(+"%.+"+,-#+,# %"# .08(0'()*.+"+#-(8."%2#L(0#,%# '.0#+,#0(#]5,+")#-5D,&(-#"#50#()+,0# %,4"%#

21

.0&,)0"8.(0"%FZ?#%(-#-58,-.7(-#4(6.,)0(-#*,<.8"0(-#A"0##-56-5*.+(# "# %"# 45,)).%%"# 8(*(#

+,%.085,08."?#0(#8(*(#45,))"#8(07,08.(0"%2#90#,-&"#$,)-$,8&.7"?#,0#50##$"W-# ]5,# $(+,*(-#

),8(0(8,)# 8(*(# +,# 0()*"%.+"+# +,*(8)Y&.8"?# C# ]5,# "0&,# %"# .0-5)4,08."# )5)"%# (# ,%#

#8).*,0##()4"0.="+(?#0(#+.4"*(-#C"#"0&,#%"#.08(0'()*.+"+#-(8."%#0(#")*"+"?#-,#,-$,)"#]5,#

"8&X,#+,#"85,)+(# 8(0# -5-# $)($."-# %,C,-?# 8(0'()*,#"#+,),8A(?# B2223# ,%# "))"-"*.,0&(#+,# %"-#

%,C,-?#-5#*"0.$5%"8./0## $(%W&.8"#C#),$),-.7"?#%"#"05%"8./0#+,%#+,),8A(#*.-*(#$()#%"#7.(%,08."#

+,#9-&"+(?#,-#50#),&)(8,-(#-(8."%?#,-#50"#A,).+"#,0#,%#&,D.+(#+,#%"#-(8.,+"+#]5,#0(#8.8"&).="?#

]5,#$,)*"0,8,#8(*(#50"#*")8"# .0+,%,6%,#+,# %"# .*$,)',88./0#C#"))(4"08."#$(%W&.8"#+,#50#

9-&"+(#8(0&)"#-5#$)($.(#$5,6%(2#X0'/-%*.['&K"=8#84"=B?C"""""

Y" 5(/.6%)" +%" 6')" .`')" #<A8K" 6.)" 3'/+(3('/%)" )'3('%3'/E*(3.)" 3&W-(3.)K" 6." %2:6'-.3(E/K" 6."

.H)%/3(." +%" LW.)" +%*'3&a-(3.)" &%.6%)" :.&." 6." :.&-(3(:.3(E/" :'6W-(3." X*a)" .66a" +%" 6."

^:')(F(6(+.+_" +%6" L'-'CK" 6." %)-&%3I." .:%&-H&." +%" 6')" 3./.6%)" 96.)" LW.)" :.3W5(3.)9" +%"

3'*H/(3.3(E/"["/%J'3(.3(E/",)-.+'9")'3(%+.+K"6."5.6-."+%"&%):H%)-.":'&":.&-%"+%6",)-.+'"."

+%*./+.)" %6%*%/-.6%)" X+%" 3.*:%)(/')K" *.%)-&')K" 5%&&'3.&&(6%&')K" H/(L%&)(-.&(')CK"

+%-'/.&'/"6."&.+(3.6(G.3(E/"+%"3(%&-')")%3-'&%)"X3'/")H)"&%):%3-(L.)"*%+(+.)"+%"&%:&%)(E/"

:'&" :.&-%" +%6" ,)-.+'C" XY66(%&K" =88<C!" ,/" %)-%" 3'/-%2-'" )H&J(%&'/" +()-(/-')" J&H:')"

JH%&&(66%&')"%/"%6":.W)!"V%"+(%&'/"+')" 5'&*.)"+%"JH%&&(66."+(5%&%/-%)4" 6." &H&.6"[" 6."H&F./.!"

$./-'"6.)"3.H).)":'&"6.)"]H%"6.)":%&)'/.)"-'*.&'/"6.)".&*.)K"3'*'"6."5'&*."%/"]H%"%)-')"

+')"-(:')"+%"JH%&&(66."5H%&'/"&%:&(*(+.)K"-HL(%&'/")H)":.&-(3H6.&(+.+%)!""

" V(" I.F6.*')" +%" &%:&%)(E/K" -%/%*')" ]H%" %/-%/+%&" ]H1" %)" .]H%66'" ]H%" )%" %)-a"

&%:&(*(%/+'K" :.&." 6'" 3H.6" )%" I.&a" H/" F&%L%" &%3H%/-'" +%)3&(:-(L'" +%" 6." JH%&&(66." &H&.6" 9"

:.&-(3H6.&(G./+'"%/"ZH%&&%&'K" :'&" )%&" H/'"+%" 6')" %)-.+')"*a)"':&(*(+')" [" &%:&(*(+')" ["

3H/."+%"*'L(*(%/-')".&*.+')"36.L%9"[K":')-%&('&*%/-%K"+%"6."JH%&&(66."H&F./.!""

"

#@" T'*'"%6"+%6"i&'-'3'6'"NN".+(3('/.6"."6')"3'/L%/(')"+%"Z(/%F&.K"]H%"&%JH6."3'/56(3-')".&*.+')"+%"3.&a3-%&"

(/-%&/'!"

22

!"#$%"&"'()*"#+,#%"#),$),-./0#

#

83 !"#45,)).%%"#)5)"%#

"

n')1"DH()"i(`%[&'"I.F6."+%" 6."JH%&&(66."&H&.6"["+%" 6.)"+()-(/-.)"3.H).)"]H%" 6."'&(J(/.&'/4" 6."

3%&&.GE/" JHF%&/.*%/-.6" 5&%/-%" ." 6.)" +%*./+.)" +%" &%:.&-'" .J&.&('K" 6." 3'/3%/-&.3(E/"

6.-(5H/+()-."+%"6."-(%&&.K"6."':&%)(E/"3.3(]H(6K"6.":'F&%G."["6."*.&J(/.3(E/")'3(.6K".+%*a)"+%6"

51&&%'".H-'&(-.&()*'"["L('6%/3(."JHF%&/.*%/-.6"+%"3.&."." 6.)"'&J./(G.3('/%)"3.*:%)(/.)"

Xi(`%[&'K" =887C!" ,/" ZH%&&%&'K" H/'" +%" 6')" %)-.+')" 3'/" *.['&" *.&J(/.3(E/" %/" %6" :.W)" ["

3.&.3-%&(G.+'" :'&" *'L(*(%/-')" +%" &%)()-%/3(." &%6.3('/.+')" 3'/" .)H/-')" +%" -(%&&.)K"

%2:6'-.3(E/"[".FH)')"3.3(]H(6%)K"5H%"H/'"+%"6')"3%/-&')"+%"%)-.)"JH%&&(66.)"[K":'&"6'"-./-'K"

H/" 5'3'" +%" F&H-.6" *(6(-.&(G.3(E/" [" &%:&%)(E/!" ^VH" .3-(L(+.+" .&*.+.K" +%F(+." %/-&%" '-&')"

5.3-'&%)" .6" 3.3(3.GJ'" 6'3.6K" 6')" 5&.H+%)" %6%3-'&.6%)K" 6."*()%&(." 3.*:%)(/." [" 6.)"*.-./G.)"

JHF%&/.*%/-.6%)" (*:H/%)K" -%/+&a":'&" &%):H%)-."H/.":'6W-(3."+%",)-.+'"]H%"+%L.)-E" 6.)"

3'*H/(+.+%)"3.*:%)(/.)"+%"6.")(%&&."+%"Y-'[.3!"hH%"6."*.['&"%)3.6.+."+%"+%).:.&(3('/%)"

5'&G.+.)"+%6")(J6'"xx"%/"%6":.W)_"XT.)-%66./')K"=88?4"=8C!"

" Y"5(/.6%)"+%" 6')".`')"#<78K" 6')"*'L(*(%/-')"+%"DH3('"T.F.`.)"X6W+%&"5H/+.+'&"+%6"

i.&-(+'"+%"6')"i'F&%)"XiRDiC"[")H"F&.G'".&*.+'K"6."z&(J.+."T.*:%)(/."+%"YbH)-(3(.*(%/-'C"

["Z%/.&'"yaG]H%G"X6W+%&"5H/+.+'&"+%"6."Y)'3(.3(E/"TWL(3."ZH%&&%&%/)%"XYTZ#BCK"*a)"-.&+%"

Y)'3(.3(E/"TWL(3."O.3('/.6"P%L'6H3('/.&(.K" XYTOPCC"^':-./_" XH/."':3(E/" &%6.-(L.K"'&(66.+."

:'&" 6." .H)%/3(."+%"'-&.)" LW.)CK" :'&" 6." LW." .&*.+."[" 6." 36./+%)-(/(+.+!" XY/-(66E/9T0RiRmK"

=88;C""

"

#

D."6H3I.".&*.+."["6.)"+%*./+.)"+%".*F')"6H3I.+'&%)")'3(.6%)"5H%&'/"+%)3.6(5(3.+.)":'&"%6"

J'F(%&/'!"D')"*%+(')"+%"3'*H/(3.3(E/"-HL(%&'/"H/":.:%6"(*:'&-./-%"%/"%)-."3.*:.`."+%"

+%):&%)-(J('!"V%"6%)"-.3IE"+%"+%6(/3H%/-%)"["F./+'6%&')!"

#B" Y)'3(.3(E/"3'/5'&*.+."'&(J(/.6*%/-%":'&":&'5%)('/()-.)"["%)-H+(./-%)"["*a)"-.&+%":'&"3.*:%)(/')K"]H%"

)H&J%"3'*'"&%):H%)-.".6"J'F(%&/'"%)-.-.6".H-'&(-.&('"+%"T.F.66%&'"YFH&-'!""

23

& i.&.6%6.*%/-%"9*.)"/'"(/+%:%/+(%/-%*%/-%"+%"%)-'9"IHF'"H/."L('6%/-."&%):H%)-."

:'&" :.&-%" +%6" ,)-.+'4" H/." %/'&*%" '6%.+." +%" &%:&%)(E/" ["*(6(-.&(G.3(E/" %/" %6" %)-.+'" +%"

ZH%&&%&'"3H['"'Fb%-(L'"%&."./(]H(6.&".*F.)"'&J./(G.3('/%)")HFL%&)(L.)!""

"

m.F6.&%*')" %/" %)-%" 3.)'" +%" ZH%&&%&'" :'&" )%&" %6" %)-.+'" +'/+%" *a)" +%).:.&(3('/%)"

5'&G.+.)"I."I.F(+'"[":'&"I.F%&)%"+.+'"%/"1)-%"6.":&(*%&."+%).:.&(3(E/"5'&G.+."+%"]H%")%"

-(%/%"&%J()-&'!"V%".I'/+.&a"F&%L%*%/-%"%/".6JH/.)"+%"6.)"-13/(3.)"+%"&%:&%)(E/"66%L.+.)"."

3.F'"%/"%)-%"%)-.+'":.&."*')-&.&"H/":./'&.*."J%/%&.6"+%" 3E*'")%"':%&.F."[".3-H.F."

%)-&.-1J(3.*%/-%K"/'")E6'"%/"3'/-&."+%"6."J%/-%"*'L(6(G.+.K")(/'"%/"3'/-&."+%")H)"5.*(6(.)"

["+%"6.")'3(%+.+"3(L(6"%/"J%/%&.6!""

&&,/" #<7<" IHF'" H/" &%:6(%JH%" %)-H+(./-(6" %/" %6" :.W)" X)%" I.F6.&a" +%" %)-'" H/" :'3'" *a)"

.+%6./-%C!" Y6"*()*'" -(%*:'K" ^T'*(%/G./" ." J%)-.&)%" L.&(')" J&H:')" .&*.+')" +%" 3.&a3-%&"

H&F./'" 3H./+'" DH3('" [" Z%/.&'K" 3.+." H/'" :'&" )H" :.&-%K" ).6-./" ." 3H.+&'!" ,/" T'[H3." +%"

T.-.6a/"%6"3.*:%)(/'",:(5./('"YL(61)"P'b.)K"L(/3H6.+'"."6."YTOPK"%)"LW3-(*."+%"6.":&(*%&."

+%).:.&(3(E/"5'&G.+."&%J()-&.+."%/"%6":.W)!"R."(/(3('"6."%)-&.-%J(."*(6(-.&"3'/-&.JH%&&(66%&.!_"

XT.)-%66./')K"=88?4"#=@C"

" V%" 66%L.&'/" ." 3.F'" %/" -'-.6" 3.-'&3%" 3.*:.`.)" *(6(-.&%)" :.&." .3.F.&" 3'/" 6.)"

'&J./(G.3('/%)" JH%&&(66%&.)K" 3'*%/G./+'" 3'/" :&%)%/3(."*(6(-.&" ^:.3W5(3._" %/" 6." )(%&&." +%"

Y-'[.3K"bH)-(5(3.+.":'&")H:H%)-')":&'J&.*.)"*1+(3')"'"+%:'&-(L')d"-'+'"%)-'":.&."J./.&)%"

6."3'/5(./G."+%"6.":'F6.3(E/!"VH3%+%""%)-'"bH)-'"+%):H1)"+%"IH(&"DH3('"."6.")(%&&."X6H%J'"+%"

6."*.-./G."+%"Y-'[.3C!""

" ,/"H/.")%JH/+."3.*:.`.K"3H./+'"T.F.`.)"["yaG]H%G"%/-&.&'/"%/".33(E/K" 5H%&'/"

J&H:')" :.&.*(6(-.&%)" XJH.&+(.)" F6./3.)" +%" 6')" 3.3(]H%)C" ]H(%/%)" 3'*%/G.&'/" ." I.3%&""

(/3H&)('/%)"L('6%/-.)".":'F6.3('/%)"+%"6.")(%&&.!"Y6"-(%*:'"]H%")%"&%:&(*W."["I')-(J.F."9)%"

)%3H%)-&.F." [" -'&-H&.F.9" ." 5.*(6(.&%)" +%" JH%&&(66%&')K" +%36.&.3('/%)" :'&" :.&-%" +%" 6')"

)%3&%-.&(')"+%"6."R%5%/)."O.3('/.6"/(%J./"6."%2()-%/3(."+%"6.)"JH%&&(66.)!""

" R%):H1)"+%"#<?8"\"%/"%6")%2%/('":&%)(+%/3(.6"+%"DH()",3I%L%&&W.9K"3'/"&%-%/%)"%/"

-'+')" 6')"3.*(/')"&H&.6%)"+%6"%)-.+'"+%"ZH%&&%&'K")%" 66%LE"."3.F'" 6." -%&3%&"3.*:.`.4")%"

24

I(G'"H)'"+%".L('/%)"["I%6(3E:-%&')"+%" 6.":'6(3W."*(6(-.&" [" 5%+%&.6!" V'":&%-%2-'"+%" 5'&*.&"

:.&-%" +%" H/" :&'J&.*." +%" 'F&.)" :cF6(3.)" 93.&&%-%&.)K" %6%3-&(5(3.3(E/K" .JH." :'-.F6%K"

%)3H%6.)K" %-3!9" ]H%" %/" -%'&W." F%/%5(3(.&W." A" *(66'/%)" +%" :%&)'/.)K" 3''&+(/.+'" :'&" %6"

%/-'/3%)")%/.+'&"PHF1/"h(JH%&'.K")%".F&(%&'/")%-%/-."3.*(/')":.&.":%/%-&.&"%/"6.")(%&&.!""

" R%):H1)"+%"%2(-').)"%*F')3.+.)"X6."-%&3%&."["6."3H.&-.C"66%L.+.)"."3.F'":'&"%6"iRDi"

."*(6(-.&%)" X%/"#<?=CK" )%"%*:6%E" 6."%)-&.-%J(." 3'/-&.(/)H&J%/-%"+%"%6(*(/.&" 6.)" &%+%)"+%"

3'6.F'&.3(E/" [" 6')" JH%&&(66%&')" %/" :'-%/3(." ." -&.L1)" +%" H/." 3.*:.`." +%" -%&&'&" X%)-."

%)-&.-%J(."%)"3'/'3(+."3'*'"^]H(-.&6%"%6".JH.".6":%G_C!"^Y3')-."TI.:.&&'K"[.".)3%/+(+'"."

3.:(-a/K"+%-(%/%":'&"+'3%/.)"."I'*F&%)K"*Hb%&%)"["/(`')"]H%"-&.)6.+.".6"3H.&-%6"*(6(-.&"+%"

6."3'6'/(."0a&-(&%)"+%"Y-'[.3.":.&."-'&-H&.&6')!",/"6.)"3'*H/(+.+%)K".+%*a)K")%"-(%/+%/"

3%&3')"*(6(-.&%)" [" +%" 5'&*." .F&H:-." )%" (*:(+%" %6" .33%)'" ." )H)"*%+(')" +%" )HF)()-%/3(.!"

0H3I')"3.*:%)(/')")%"L%/"'F6(J.+')"."IH(&"3'/")H)"5.*(6(.)"'"6.)"+%b./".")H")H%&-%":.&."

(/J&%).&" ." 6.)" 5(6.)" +%6" iRDi!" X!!!C" ,)%" .`'" +%" #<?=" )%" -&(:6(3./" 6.)" +%).:.&(3('/%)" %/" 6."

&%J(E/K" :H%)" .6"*%/')" -&%)"*Hb%&%)" [" 3.-'&3%"I'*F&%)" )'/" )%3H%)-&.+')" )(/"]H%"]H%+%"

&.)-&'".6JH/'!_"XT.)-%66./')K"=88?4"#B8C"

" D." 3H.&-." 3.*:.`." 3'/)()-(E" %/" (/-%/-.&" +%-%3-.&" ." )(*:.-(G./-%)" +%" 6')" J&H:')"

^)HFL%&)(L')_" ." -&.L1)" +%" 6." .:%&-H&." +%" J&./" 3./-(+.+" +%" -(%/+.)" T'/.)H:'" [" +%" H/."

)H3H&).6" +%6" N/)-(-H-'" 0%2(3./'" +%6" T.51" ]H%" '5&%3%" ^3H&)')" +%" '&(%/-.3(E/" :'6W-(3'_" ."

3'*().&(.+')" %b(+.6%)!" ,6" &%)-'" +%" 6.)" 3.*:.`.)" 5H%&'/"+%" 3.&a3-%&"*(6(-.&!" XT.)-%66./')K"

=88?C"

" ,/"#<?BK"-&.)"%6")%3H%)-&'"66%L.+'"."3.F'":'&"DH3('"T.F.`.)"+%"PHF1/"h(JH%&'."9."

:H/-'"+%".)H*(&"6."JHF%&/.-H&."+%"ZH%&&%&'9"["+%6"%2"J'F%&/.+'&"+%"n.6()3'"[")H%J&'"+%"

,3I%L%&&W."9n')1"ZH.+.6H:%"ÄH/'9":'&":.&-%"+%"6.)"hYPi"XhH%&G.)"P%L'6H3('/.&(.)"Y&*.+.)"

+%6"iH%F6'C"" %/" ZH.+.6.b.&.K" )%" +('" H/." '6." +%" &%:&%)(E/" .c/" *a)" 5%&'G!" ,3I%L%&&W."

+%36.&E"/'"%)-.&"+():H%)-'".":.3-.&"3'/"^3&(*(/.6%)_!"V%"I.F6."+%"H/."3(5&."*.['&"."6."+%"

#;"*(6")'6+.+')"%/"6."G'/.d"-'+.)"6.)"LW.)"+%".33%)'"%)-.F./"3'/-&'6.+.)":'&"*(6(-.&%)"X["

bH+(3(.6%)CK"3&%./+'"3%&3')"]H%"(*:%+W./"]H%"JH%&&(66%&')"'F-HL(%&./".6(*%/-'!""

"

Y6JH/.)"-13/(3.)"&%:&%)(L.)4""

25

! S/."+%"6.)"%)-&.-%J(.)"+%"3'/)-&.(/)H&J%/3(."5H%"3'/L%&-(&"."6."*Hb%&"%/"6.":&(/3(:.6"

&%:&'+H3-'&."+%6"*(%+'d".6")%&"6."*.['&W."+%"6')"+%-%/(+')M%b%3H-.+')"I'*F&%)K")%"

6%)"+%b.")'6.)"."3.&J'"+%6")H)-%/-'"-'-.6"+%6"I'J.&"X/'"I.["]H%"(J/'&.&"]H%")W"IHF'"

*Hb%&%)" +%-%/(+.)" [" LW3-(*.)" +(&%3-.)" +%" .-&'3(+.+%)" :'&" :.&-%" +%" *(6(-.&%)" ["

:.&.*(6(-.&%)C!"

! ^$(%&&." 6(*:(._4" %/" :%]H%`.)" &./3I%&W.)" .()6.+.)" +%" 6." )(%&&.K" )%" 66%L.F./" ." 6.)"

:%&)'/.)" %/" I%6(3E:-%&')!" Y" .6JH/.)" )%" 6%)" -&.)6.+.F." ." 3a&3%6%)" 36./+%)-(/.)K" ."

'-&.)")%"6%)".F./+'/.F."%/"G'/.)".6%b.+.)"["."'-&.)")%"6%)"6./G.F.".6"*.&"H/."L%G"

%b%3H-.+.)!" ,)-." c6-(*." 5'&*." +%" :&'3%+%&" %)" 3'/'3(+." 3'*'" ^LH%6')" +%" 6."

*H%&-%_!"

! yH%6')" +%" 6." *H%&-%4" ^,6" *.['&" Y3')-." TI.:.&&'" [" %6" -%/(%/-%" 3'&'/%6" uH(&E)"

m%&*')(66'" 'F%+%3%/" E&+%/%)" )H:%&('&%)" %" (/)-&H[%/" ." )H)" )HF.6-%&/')!" R./" ."

012(3'" %6" (/+(J/'" I'/'&" +%" )%&" :&%3H&)'&" +%" 6')" 66.*.+')" ÇLH%6')"*'&-.6%)Ç" ]H%"

6H%J'" )%&a/" :&.3-(3.+')" %/" 6.)" +(3-.+H&.)" 6.-(/'.*%&(3./.)" :.&." +%).:.&%3%&" ."

+()(+%/-%)":'6W-(3')"%/".6-.*.&!_"XT.)-%66./')K"=88?4"#78C"V%"6%)"L%/+.F./"6')"'b')K"

)%" 6.)" )%/-.F." %/" H/" F./3'" [" 6%)" +.F./" H/" F.6.G'" %/" 6." /H3.d" )%" )HFW./" 6')"

3.+aL%&%)" ." H/" .L(E/" [" )%" -(&.F./" +%)+%" %6" .(&%" X.6JH/')" I'*F&%)" -'+.LW."

.J'/(G./+'C!"V%":%&5%33('/E"6."^-13/(3._"*%-(%/+'"6')"3H%&:')"%/"3')-.6%)"+%"(2-6%"

3'/":(%+&.)":.&."]H%"6')"3H%&:')"/'"56'-.&./!"

"

Y6"*()*'"-(%*:'")%"66%L.F."."3.F'"H/."3.*:.`.":%&('+W)-(3.":.&.":&'-%J%&"6."(*.J%/"+%6"

J'F(%&/'" JH%&&%&%/)%K" &%).6-./+'" )H:H%)-')" 6'J&')!" XR%6" T.)-(66'K" =88Bd" $&%b'K" =88Bd"

T.)-%66./')K"=88?d"P'+&WJH%GK"=88?C"

"

Y/-%)K" %/"#<?=K" " I.FW."*H%&-'" [."Z%/.&'"yaG]H%G"%/"H/".33(+%/-%".H-'*'L(6W)-(3'd" 5H%"

1)-%"%6"5(/"+%"6."YTOP!"

" ,/" #<?B" 5H%" 6." 3.W+." +%" DH3('" T.F.`.)K" :&%)%/-.+'":'&" 6." V%3&%-.&W." +%"R%5%/)."

3'*'"H/"I'*F&%""FH)3.+'":'&"I.F%&"3'*%-(+'"+(L%&)')"+%6(-')!",6"iRDi")%"+%).&-(3H6.!#A"

#A" ^D."*(6(-./3(." )'F&%L(L(%/-%" +%6" iRDi" %)" :%&)%JH(+." [" )%" +():&%)." %/" 6." )(%&&." [" 6.)" 3(H+.+%)!" X!!!C" $&%)"

26

,)%"*()*'".`'".)H*%"6."JHF%&/.-H&."PHF1/"h(JH%&'."["%)"3H./+'")%"+."%6"*.['&"/c*%&'"

+%"+%).:.&(3('/%)"5'&G.+.)"%/"%6":.W)K"6."*.['&W."%/"6.")(%&&."+%"Y-'[.3!""

"90#Fie`#,%#L(*.&;#95),N"#+,#S(-").(#j6"))"#+,#V.,+)"#),4.-&)"#8.,0&(#-,&,0&"#C#&),-#+,-"$"),8.+(-#

45,)),),0-,-# +,# %(-# 85"%,-# 85"&)(# -(0# *5D,),-2# !"# R-(8."8./0# +,# U"*.%."),-# +,# I,&,0.+(-?#

I,-"$"),8.+(-# C# _W8&.*"-# +,# _.(%"8.(0,-# "#I,),8A(-#@5*"0(-# ,0#:;<.8(# BRURI9:[U9I9UR:#73#

,0%.-&"# *Y-# +,# &),-8.,0&(-# 8"-(-?# +,# %(-# 85"%,-# $()# %(# *,0(-# 7,.0&,# -(0# *5D,),-?# 50"# +,# ,%%"-#

,*6")"="+"2#:58A"-#'"*.%."),-#8"*$,-.0"-#A5C,0#$")"#-.,*$),#+,#%"#),4./02#B2223#I,#50#+W"#$")"#

(&)(# %"# 45,)).%%"# +,# !58.(# C"# A"# -.+(# +,-A,8A"# $,)(# %"-# .0-&"%"8.(0,-# *.%.&"),-# +,%# ,-&"+(# ,-&Y0#

%%,0"-# +,# $,)-(0"-# +,&,0.+"-# 8%"0+,-&.0"*,0&,# C# ]5,# -(0# 65-8"+"-# 8(0# +,-,-$,)"8./0# $()# -5-#

'"*.%.),-2K#XT.)-%66./')K"=88?4"#78C"" "D.H&."T.)-%66./')"3'/36H[%"%6"-%&3%&"3.:W-H6'"+%")H"6(F&'":;<.8(#R)*"+(2Fi`Z[FigFK"^Y&+%"

ZH%&&%&'_K"#*%/3('/./+'"]H%"

!(-# 4(6.,)0(-# +,# 98A,7,))W"# C# U.45,)("# ,0'),0&")Y0# "A()"# "# (&)(# &.$(# +,# ,D;)8.&(?# 'kY4.%# C#

$)('50+"*,0&,#+(%().+(2#9%#+,# %(-#8.,0&(-#+,#*5D,),-#"# %"-#]5,# %,-#'5,#"))"08"+"#+,#-5#7.+"#(&)"#

*5D,)# 8(*(# ,%%"-?# 8"*$,-.0"# C# "0"%'"6,&"?# (# $,)+.,)(0# "# -5# A.D(?# -5# A,)*"0(?# -5# $"+),# (# -5#

*").+(2#b5*.+"-#,0#,%#A"*6),?#,%#&,))()#C#%"#"045-&."?#8(&.+."0"*,0&,#&.,0,0#]5,#A"8,)#"#50#%"+(#

-5#$)($."# 8")4"#$")"?#"+,*Y-#+,#65-8")#"# -5-# '"*.%."),-?# -,)# %"# D,'"-#+,%#A(4")# C#45")+."0"-#+,#

05*,)(-"-#0.J(-#C#0.J(-#A5;)'"0(-?#+,#*5D,),-#C#A(*6),-#"08."0(-?#,0',)*(-!"X=88?4"#77C""" "

n'&J%"DH()"V%&&."I.F6."+%"3E*'"%/"ZH%&&%&'")%"+('"H/.").-H&.3(E/"*(6(-.&"]H%"6(]H(+E"."6.)"

JH%&&(66.)"+%"%)-')"+')"6H3I.+'&%)")'3(.6%)"9"6.)"+')"*a)"(*:'&-./-%)"+%6"%)-.+'"["3'/"J&./"

(/56H%/3(." [" &%)'/./3(." %/" %6" -%&&(-'&('" /.3('/.69K" +%b./+'" .6&%+%+'&" +%" @" *(6" *H%&-')"

X%/-&%" 3'*F.-(%/-%)K" 5.*(6(.&%)" [" )(*:.-(G./-%)" +%" 6." JH%&&(66.C!" XV%&&.K" =887C" R%)+%" %6"

:H/-'"+%"L()-."%)-&.-1J(3'K"6."5'&*."+%"&%:&%)(E/"+%"%)-%"-(:'"+%"JH%&&(66."-HL'")%/-(+'")("

*%)%)"+%):H1)"+%"6."*H%&-%"+%6"6W+%&"JH%&&(66%&'K"%/"6.":&(*.L%&."+%"#<?AK"'-&'"/c36%'"+%"*%+(."+'3%/."+%" )'F&%L(L(%/-%)" X!!!C" )%" &%c/%" %/" 6." 3(H+.+" +%" 012(3'" :.&." -&.-.&" +%" &%3'/)-&H(&" 6." '&J./(G.3(E/!"T'/5'&*./" H/." +(&%33(E/" 3'6%3-(L.K" *()*." ]H%" H/" .`'" +%):H1)" 3'/-.3-.&a" ." 6." S/(E/" +%6" iH%F6'" ["3'/56H(&a"%/"%6"%*F&(E/"+%6"i.&-(+'"P%L'6H3('/.&('"QF&%&'"T6./+%)-(/'"S/(E/"+%6"iH%F6'9i.&-(+'"+%" 6')"i'F&%)" XiPQTSi9iRDiCK" ./-%3%+%/-%" +%6" ,b1&3(-'" i':H6.&" P%L'6H3('/.&('" X,iPCK" ]H%" I.&a" :&%)%/3(.":cF6(3."%/"#<<7!_"XT.)-%66./')K"=88?4"#7BC"

"

#7" ^,)"H/"'&J./()*'"/.3('/.6K"/'"JHF%&/.*%/-.6"XQOZCK"/'"&%6(J(')'K")(/"5(/%)"+%"6H3&'K"]H%")H&J%"%/"#<?;K"3'/")%+%"%/"%6"R()-&(-'"h%+%&.6K"3'/"5(6(.6%)"%/"z.b."T.6(5'&/(."O'&-%"X#CK"V(/.6'."X=CK"TI(IH.IH."X=CK"iH%F6."X#CK" ZH%&&%&'" X##C" [" R()-&(-'" h%+%&.6" X#Cd" 6." Y)'3(.3(E/" %)-a" +(L(+(+." %/" =" P%J('/%)4" O'&-%" [" VH&!" ,)"*(%*F&'K" +%)+%" #<;;" +%" 6." h%+%&.3(E/" D.-(/'.*%&(3./." +%" Y)'3(.3('/%)" +%" h.*(6(.&%)" +%" R%-%/(+')"R%).:.&%3(+')K" h,R,hY0K" '&J./()*'" &%J('/.6" 6.-(/'.*%&(3./'" 3'/" )%+%" %/" T.&.3.)K" y%/%GH%6.K" ]H%".J6H-(/." ." #A" '&J./(G.3('/%)" +%" ##" :.W)%)!_" YhYR,0" h'&*." :.&-%" +%" H/." &%+" +%"*a)" +%" B8" QOZ" +%"+%&%3I')"IH*./')"!"XiaJ(/."j%F"+%"YhYR,0d"3'/)H6-.+."%6"#="+%"/'L(%*F&%"+%"=8#8C"

"

27

)%":(%/)."]H%"6."F.)%")'3(.6"+%"1)-."&%)(+W."%/"6.)"5.*(6(.)K"3'*H/(+.+%)K"%-31-%&.!"Y-.3.&"."

%)-.)" c6-(*.)" %&." 6." 5'&*.K" %/" -%'&W.K" +%" .3.F.&" 3'/" 6." +()(+%/3(.!" ^D." Y)'3(.3(E/" +%"

h.*(6(.&%)"+%"R%-%/(+')K"R%).:.&%3(+')"["yW3-(*.)"+%"y('6.3('/%)"."6')"R%&%3I')"mH*./')"

%/"012(3'" XYhYR,0CK"%)-(*."]H%"#Ç=88":%&)'/.)" 5H%&'/"+%).:.&%3(+.)"%/"012(3'"%/"%6"

:%&('+'"+%"6."*.6"66.*.+."kZH%&&."VH3(.l!"R%"%66')K"3%&3."+%"788")'/"JH%&&%&%/)%)"["*a)"+%"

B88" +%" %)-.)" +%).:.&(3('/%)" 5'&G.+.)" )%" &%J()-&.&'/" %/" Y-'[.3" +%" r6L.&%G!_" XY/-(66E/9

T0RiRmK" =88;C" ,6" .-%/-.+'" 3'/-&." JH%&&(66.)" &H&.6%)" /'" )%" +('" )E6'" %/" ZH%&&%&'K" )(/'"

-.*F(1/"%/"'-&')"%)-.+')"3'*'"TI(IH.IH.!""

"

Y"6."JH%&&(66."&H&.6"6%")(JH(E"%6")H&J(*(%/-'"+%"H/"/H%L'"-(:'"+%"JH%&&(66.4"6."H&F./.!""

"

+3 !"#45,)).%%"#5)6"0"#

"

,/"%6"3'/-%2-'"+%"6')"*'L(*(%/-')"%)-H+(./-(6%)"+%"-'+'"%6"*H/+'"X#<7;C"["+%"6."6(F%&.3(E/"

5%*%/(/."]H%"5'*%/-.F."6.":.&-(3(:.3(E/":'6W-(3."+%"*Hb%&%)K"5H%"6."bHL%/-H+"+%"6')".`')"

#<78"3'/".33%)'"."%+H3.3(E/"%/"%)3H%6.)"/'&*.6%)"&H&.6%)"["+%"/(L%6"*%+('"[")H:%&('&"%/"

6.)"H&F%)"6.":&'-.J'/()-."+%"6."6H3I."+%*'3&a-(3."X%/"012(3'C!"V%"6%W."."0.&2K"."D%/(/"["."

0.'9$)%9-H/J!"0(6%)" +%" bEL%/%)"*(6(-.&'/" %/" 6." nHL%/-H+" T'*H/()-.K" %6" i.&-(+'" i':H6.&"

V'3(.6()-."'"%/".6JH/."+%"6.)":&(/3(:.6%)"'&J./(G.3('/%)"."/(L%6"/.3('/.64"6."T%/-&.6"O.3('/.6"

+%" ,)-H+(./-%)" R%*'3&a-(3')" XTO,RC" [" 6." h%+%&.3(E/" +%" ,)-H+(./-%)" T.*:%)(/')"

V'3(.6()-.)" +%" 012(3'" X+%" /'&*.6()-.)C!" D." -%'&W." +%" 6." 6(F%&.3(E/" -.*F(1/" -HL'" J&./"

(/56H%/3(.!"D.H&."T.)-%66./')"+%)3&(F%"%6"36(*."["%6"%)3%/.&('"+%"6."1:'3.4"

"

R%# &.,*$(# ]5,# ,-&"# 4,0,)"8./0# "+*.)"6"# "# %"# D57,0&5+# ),7(%58.(0")."# ]5,# 8(0-(%.+"6"# %"#

S,7(%58./0#856"0"?#"&,-&.45"6"#,0#:;<.8(#,%#"4(&"*.,0&(#+,%#$"8&(#+,#+,-"))(%%(#,8(0/*.8(#]5,#

A"6W"#$(-.6.%.&"+(#,%#"-8,0-(#-(8."%#+,#%"-#8%"-,-#*,+."-?#(6-,)7"6"#%"#"45+.="8./0#+,#%"#8).-.-#,0#,%#

8"*$(?# ,%# "&"]5,# .*$%"8"6%,# 8(0&)"# %(-# *(7.*.,0&(-# ($(-.&(),-# C# %"# .*$(-.6.%.+"+# +,# ),"%.=")#

8"*6.(-# -(8."%,-# C# ,8(0/*.8(-# "# &)"7;-# +,# %"# 7W"# ,%,8&()"%2# l-&,# ,-# ,%# ,-8,0").(# ,0# ,%# ]5,# +.8A"#

4,0,)"8./0#7.7.)Y#+.7,)-"-#,<$),-.(0,-#$(%W&.8"-#C#8(*,0=")Y#"#+.-85&.)#,0#-5#-,0(#%"#$,)&.0,08."#+,#

%"# 7W"# ")*"+"?# "50# "0&,-# +,# %"#*"&"0="# +,# Fimg?# 8(*(# -58,+./# ,0# LA.A5"A5"# C# ,0# d5,)),)(2K#

X=88?4"#7<C"""

28

,/" #<7<" )H&J%/" J&H:')" .&*.+')" H&F./')" ." /(L%6" /.3('/.6" X%/" .6JH/')" 3.)')K" 3'/"

%/-&%/.*(%/-'"%/":.W)%)"+%6"F6']H%")'3(.6()-.K"^3'*:.&-(*%/-.+.)_"%/":%]H%`.)"316H6.)!"

,6"0'L(*(%/-'" +%" Y33(E/" P%L'6H3('/.&(." X0YPCK" :'&" %b%*:6'K" &%3(F(E" %/-&%/.*(%/-'" %/"

T'&%.C"XV%&&.K"=887d"i'/(.-'})p.K"#<;8C!",/"I'/'&"."6.""]H%":'+&W."3'/)(+%&.&)%"3'*'"6."

:&(*%&." JH%&&(66." *%2(3./." *'+%&/." 9%6" .).6-'" .6" 3H.&-%6" +%" T(H+.+" 0.+%&." %/" #<7AK"

(*(-.3(E/" +%" 6." -'*." +%6" TH.&-%6"0'/3.+.9" )H&J%" 6." D(J." T'*H/()-." =@" +%" V%:-(%*F&%!"

R%):H1)"+%"#<7;")H&J%/"L.&(.)".J&H:.3('/%)#?K".6JH/.)"+%"6.)"3H.6%)""^.):(&.F./"."H/(&)%"."

6."JH%&&(66."&H&.6"+%"Z%/.&'"%/"6.")(%&&._!"Xi'/(.-'})p.K"#<;84"#A#C"T'*'"*%/3('/."Y66(%&"

X=88<CK" H/."+%" 6.)"B" 3'/)%3H%/3(.)"+%6"*'L(*(%/-'"+%6" 7;" 5H%"%6" I%3I'"+%"]H%"*H3I')"

bEL%/%)")%":.).&./"I.3(."%)-.)"'&J./(G.3('/%)"JH%&&(66%&.)!"#;""

" T.&6')" 0'/-%*.['&" *%/3('/." ]H%K" ." :.&-(&" +%" #<7A" %/" TI(IH.IH." )%" +./""

3'/)-./-%)"6%L./-.*(%/-')".&*.+')"%/"/H%)-&'":.W)"3'/"H/."5.)%".JH+."+%"#<?#"."#<??!""

X0'/-%*.['&K"#<<<C!""

" ,/":.6.F&.)"+%"V%&J('"YJH.['4"""

"

^,/"%6"012(3'"+%"6')".`')")%)%/-."[")%-%/-.K"I'*F&%)"["*Hb%&%)"+%3(+(%&'/"]H%"6."c/(3."

.6-%&/.-(L." %&." 6./G.&)%" %/" 3'/-&." +%6" &1J(*%/K" 3&%./+'" =<" '&J./(G.3('/%)" +(5%&%/-%)_"

XYJH.['K"=88=4"##AC!""

"Y6"-(%*:'"%/"]H%"Z%/.&'"yaG]H%G"["DH3('"T.F.`.)"5'&*./")H)"'&J./(G.3('/%)"JH%&&(66%&.)K"

%6" :&%)(+%/-%"RW.G"Q&+.G" X#<7B9#<?8C":&%-%/+%"*')-&.&" ." 6." 3'*H/(+.+" (/-%&/.3('/.6" %6"

&')-&'"+%6"^*(6.J&'"*%2(3./'_"+H&./-%"6')"xNx"nH%J')"Q6W*:(3')"]H%")%"66%L.&W./"."3.F'"%/"

/H%)-&'" :.W)!" VH" :')-H&." ./-(3'*H/()-." )%" 3'/L(&-(E" %/" :.&./'(.4" ^%6" :&%)(+%/-%" -HL'" 6."

#?" ,6" h&%/-%" S&F./'" Ä.:.-()-." XhSPCK" S/(E/" +%6" iH%F6'K" ^T.&6')" D.*.&3._K" %6" T'*(-1" ,)-H(+./-(6"

P%L'6H3('/.&('"+%"0'/-%&&%[" XT,PCK"hH%&G.)"P%L'6H3('/.&(.)"Y&*.+.)"+%6"iH%F6'" XhPYiCK"Z&H:'"OH%L'"D%E/K" h&%/-%",)-H+(./-(6"P%L'6H3('/.&('"+%"ZH.+.6.b.&.K" hH%&G.)"Y&*.+.)"+%" 6."OH%L."P%L'6H3(E/K" D(J."D%/(/()-.",):.&-.3'K"F&(J.+."Y&*.+."+%"DH3I."QF&%&."+%"TI(IH.IH.K"h&%/-%"+%"D(F%&.3(E/"O.3('/.6K"TYi"XT'*./+'"Y&*.+'"+%6" iH%F6'K" J&H:'":%]H%`'" (/-%J&.+'" )'F&%" -'+'":'&" %)-H+(./-%)" +%" 6."SOY0CK" %6"0YP" K" YTOP" XY)'3(.3(E/" TWL(3." O.3('/.6" P%L'6H3('/.&(.K" %2-%/)(E/" H&F./." +%" 6." JH%&&(66." +%" Z%/%&'"yaG]H%G"%/"6.")(%&&.C!"Xi'/(.-'})p.K"#<;8C"

"#;" D.)"'-&.)"-&%)"3'/)%3H%/3(.)"]H%"*%/3('/."%)"%6"+%F(6(-.*(%/-'"+%6"i.&-(+'"T'*H/()-.K"%6".6%b.*(%/-'"+%"

1)-%" +%" 6." P%L'6H3(E/" 0%2(3./." X+%6" :.&-(+'" ^&%:&%)%/-./-%_" +%" 1)-.C" [" 6." 3'':-.3(E/" :'&" :.&-%" +%6",)-.+'"+%"bEL%/%)"]H%":.&-(3(:.&'/"%/"6."*'L(6(G.3(E/"+%6"7;!"

29

5(b.3(E/" +%" ]H%" H/." 3'/bH&." 3'*H/()-." (/-%&/.3('/.6#<" F'(3'-%.&W." 6')" nH%J')" Q6W*:(3')"

:.&." +%).3&%+(-.&" .6" :.W)" XT.G1)K" #<<@d" P.*W&%GK" #<7<C!" VH" 'F)%)(E/" I.66E" 3H%&:'" %/" H/"

:6%(-'"%)-H+(./-(6"3.66%b%&'"]H%".6(*%/-E"H/."5.6).".6.&*.K":&'L'3E"6."(/-%&L%/3(E/"*(6(-.&"

%/" :6./-%6%)" +%" %+H3.3(E/" :cF6(3.K" H/" )':&%/+%/-%" .3-(L()*'" %)-H+(./-(6K" H/" .-&':%66'"

F&H-.6"%/")H"3'/-&."[")H"3H6*(/.3(E/"%/"6."-É.J(3."/'3I%"+%"$6.-%6'63'!",6"&%):'/).F6%"+%"

6.)"-.&%.)"+%")%JH&(+.+"X!!!C"%&."DH()",3I%L%&&W.!_"XT.)-%66./')K"=88?4"#7<9#?8C"

"

!"#&")+,#+,%#E#+,#(8&56),#,%#*(7.*.,0&(#,-&5+."0&.%#+,*(-&)/#-5#,<$),-./0#$"8W'.8"?#

8.7.%.="+"#C#*,-5)"+"?#*.,0&)"-#]5,#,%#);4.*,0#,<$5-(#-5#)(-&)(#*Y-#+,-"4)"+"6%,#

"0&,#50# .*$()&"0&,#0X*,)(#+,#$,).(+.-&"-# ,<&)"0D,)(-# ]5,# .0'()*")(0#"%#*50+(#

-(6),#50#4(6.,)0(#+,-$."+"+(#]5,#"$%"-&"6"#"#($(-.&(),-#+,-")*"+(-2#l-,#,)"#,%#

:;<.8(#]5,#"*,&)"%%/#"#S56;0#a")"*.%%(#C#"#-5#'"*.%."?#,%#]5,#A(-&.4/#C#,08")8,%/#"#

',))(8")).%,)(-# C# 0"7.-&"-Ef?# ,%# ]5,# ,-$./?# +.'"*/# C# +,-$.+./# "# %(-# *;+.8(-#

+.-.+,0&,-2# B13#^0#0X*,)(# .0+,&,)*.0"+(#+,# D/7,0,-#8(08%5C/#]5,# %"#X0.8"#-"%.+"#

+.40"#,)"#*().)#8(0#,%#'5-.%#,0#%"#*"0(2#XYJH.['K"=88=4"#@;C"&

DH()",3I%L%&&W.K"]H%")H3%+%"."RW.G"Q&+.G"%/"6.":&%)(+%/3(."X#<?89#<?7CK")(JH(E"H/.":'6W-(3."

%)]H(G'5&1/(3.4""

"

i'&"H/"6.+'K"(*:H6).F."H/.".:%&-H&.":'6W-(3."96.":&'*%-(+."^.:%&-H&."+%*'3&a-(3._9"["H/."

:'6W-(3."%2-%&('&":&'J&%)()-.!"

"

R#*,+."+(-# +,# FieF?# !5.-# 98A,7,))W"# n%7"),=# .0.8./# 50"# -,).,# +,# ),'()*"-# 6"D(# ,%# ,0508."+(# +,#

"$,)&5)"#+,*(8)Y&.8"?#]5,#65-8/?#,0#$).*,)#&;)*.0(?#+")#-(%58./0#"#%(-#$)(6%,*"-#$%"0&,"+(-#$()#

%(-# -,8&(),-#*(7.%.="+(-#,0#Fimg>#$5-(#,0# %.6,)&"+#"# %(-#+.).4,0&,-#,-&5+."0&.%,-#C#"#(&)(-#$),-(-#

$(%W&.8(-?# 8(*(# %(-# %W+,),-# ',))(8")).%,)(-#+,%#*(7.*.,0&(#+,#Fiog[Fioip# .0&,0&/#"6).)#50#+.Y%(4(#

8(0# %(-# ,-&5+."0&,-# +,%# $"W-# C?# '.0"%*,0&,?# +,)(4/# %(-# $(%;*.8(-# ")&W85%(-# F`o# C# F`o# 6.-2# b5-#

"88.(0,-#),$),-,0&"6"0#50"#*"0,)"#+,#+,-%.4")-,#+,%#4(6.,)0(#+,#IW"=#q)+"=?#$")&.85%")*,0&,#,0#

%(#),',),0&,#"#%"#),-$(0-"6.%.+"+#$()#%"#),$),-./0#,D,)8.+"#,0#Fimg2#XY66(%&K"=88<4"=<AC###"

Y6"*()*'" -(%*:'K"%/"ZH%&&%&'" )%" &%J()-&.F./" 6.)":&(*%&.)"+%).:.&(3('/%)" 5'&G.+.)"[" )%"

66%L.F./"."3.F'"&%:&%)('/%)"3'*'"6."+%6"#8"+%"bH/('"+%"#<?#4"H/."*.&3I."%)-H+(./-(6"%/"

.:'['"."6.)"+%*./+.)"+%"%)-H+(./-%)"+%"6."S/(L%&)(+.+"YH-E/'*."+%"OH%L'"D%E/")%"L('"

#<" Y"%)-'")%"6%"3'/'3%"3'*'"6."^-%'&W."+%"6."3'/bH&._!"=8" ,6"-1&*(/'"^/.L()-.)_")%"&%5(%&%"."6')"(/-%J&./-%)"+%6"*'L(*(%/-'"3(L(6"3H['"6W+%&"5H%"%6"+'3-'&""V.6L.+'&"

O.L."%/"V./"DH()"i'-')W"%/"6')".`')"3(/3H%/-.."

30

F&H-.6*%/-%" (/-%&&H*:(+." :'&" %6" J&H:'" :.&.*(6(-.&" ^6')" m.63'/%)_" 3'/" H/" ).6+'" +%"

*H%&-')"["I%&(+')"/'"+%-%&*(/.+'!"Y"%)-%".3-'" )%" 6%" 3'/)(+%&."3'*'"%6"+%-'/./-%"["%6"

%*:HbE/" 5(/.6" :.&."*H3I')" bEL%/%)" :.&." -'*.&" 6.)" .&*.)!" XYJH.['K" =88=d" T.)-%66./')K"

=88?C"

"

G(*"0# %"-# ")*"-# ,-&5+."0&,-# )"+.8"%.="+(-?# $)(&"4(0.-&"-# +,%# .0.8.(# +,# %"# +,6"8%,# +,# %"-# 8%"-,-#

*,+."-?#"+(%,-8,0&,-#A,)*"0"+(-#$()#%"-#*"&"0="-#+,%#mg#C#eF?#"-W#8(*(#$()#(&)(-#*(7.*.,0&(-#

50.7,)-.&").(-# 4(%$,"+(-# ,0#:.8A("8Y0?# V5,6%"?# \5,7(# !,/0?# LA.A5"A5"?# a"%.-8(# C# b.0"%("2# ^0"#

65,0"#$")&,#+,#,-"# D57,0&5+#A"#+,-,)&"+(#+,%#V")&.+(#L(*50.-&"#$()#8(0-.+,)")%(# ),6"-"+(#$()#

%(-#A,8A(-#-"04).,0&(-2#L),W"0#]5,#A"6W"#]5,#8.*6)")#,%#-.-&,*"?#+,))(8")#"#%"#65)45,-W"#0(#$()#%"#

7W"# $"8W'.8"# C# $")%"*,0&")."# ]5,#$%"0&,"6"# -5# $")&.+(?# -.0(# 8(*(#$),&,0+W"# A"8,)%(# %"# D57,0&5+#

),7(%58.(0")."#+,#b5+"*;).8"2#XT.)-%66./')K"=88?4"#=79=?C"#"

D')" :&(*%&')" J&H:')K" (/(3(.6*%/-%" )(/" 3'/%2(E/" %/-&%" )W" [" .()6.+')" +%" 6.)" *.).)" [" %6"

*'L(*(%/-'" 'F&%&'K" 66%L./" ." 3.F'" .).6-')" [" )%3H%)-&')" :.&." ^%2:&':(.&_" 3.:(-.6" +%" 6."

FH&JH%)W."%/"%6":'+%&K"3'/"%6"5(/"+%"5(/./3(.&")H)":&'[%3-')"&%L'6H3('/.&(')!"XT.)-%66./')K"

=88?C"

"

0.&('" 0'[." i.6%/3(.K" )%3&%-.&('" +%" Z'F%&/.3(E/K" h%&/./+'" ZH-(1&&%G" z.&&(')K"

)HF)%3&%-.&('"+%"%)%"+%):.3I'K"[")H)".J%/-%)"+%" 6."R(&%33(E/"h%+%&.6"+%"V%JH&(+.+"9DH()"

+%"6."z.&&%+."0'&%/'"["0(JH%6"O.G.&"m.&'"9K"3'/".:'['"+%"%6%*%/-')"*(6(-.&%)"[".)%)'&W."

)H+.*%&(3./." %/"*.-%&(." +%" -'&-H&.K" 3'/-.&a/" 3'/" 6')" &%3H&)')" IH*./')" [" *.-%&(.6%)"

)H5(3(%/-%)":.&."3'*F.-(&"6."+()(+%/3(."%/"-'-.6"(*:H/(+.+!"XT.)-%66./')K"=88?C"

"!"-#*5D,),-# C# A(*6),-# +,&,0.+(-# C# &()&5)"+(-# -,)Y0# %%,7"+(-# "# 8Y)8,%,-# 8%"0+,-&.0"-?# "$"0+(-?#

-/&"0(-?# "=(&,"-# C# 6"J(-# +,# +.7,)-"-# .0-&"%"8.(0,-# $(%.8."8([*.%.&"),-2# _")."+(-# &,-&.*(0.(-#

56.8")Y0#$).08.$"%*,0&,#,0#%"#8"$.&"%#*,<.8"0"#"# %"-#('.8.0"-#+,%#b,)7.8.(#b,8),&(#,0#G%"<8("]5,p#

%"-# +,# %"# I.),88./0# U,+,)"%# +,# b,45).+"+# ,0# V%"="# +,# %"# S,$X6%.8"?# '),0&,# "%# :(05*,0&(# "# %"#

S,7(%58./0#B2223p#%"-#+,#%"#I.),88./0#+,#V(%.8W"#C#G)Y0-.&(p#50#85")&,%#+,#4)"0"+,)(-#,0#G%"&,%(%8(p#,%#

85")&,%#+,#%"#$(%.8W"#*(0&"+"#"&)Y-#+,#%"#_.%%"#+,#d5"+"%5$,#C#%"#,-&"8./0#+,#6(*6,)(-#+,#%"#8"%%,#

:"05,%#d/*,=?#,0&),#(&)(-2#Q5.,0,-#&,04"0#%"#'()&50"#+,#-5#%"+(?#&)"-#%"-#&()&5)"-#C#%"#),8%5-./0#

+,# +W"-# (# *,-,-# ,0# 8(0+.8.(0,-# .0')"A5*"0"-?# -,)Y0# $),-,0&"+(-# "%# :.0.-&,).(# VX6%.8(2# q&)"-#

7W8&.*"-# -,)Y0# &)"-%"+"+"-#"# %"-#*"=*())"-# +,%# L"*$(#:.%.&")#\X*,)(#^0(?# +,#+(0+,?# ,0#*5C#

8(0&"+"-#(8"-.(0,-?#-"%+)Y0#8(0#7.+"#$")"#+")#&,-&.*(0.(2KXT.)-%66./')K"=88?4"#;8C"""

31

P%)H6-." (&E/(3'" L%&" 3E*'" +H&./-%" %6" )%2%/('" +%" DH()" ,3I%L%&&W." )%" .F&W./" 6.)" :H%&-.)" ."

&%5HJ(.+')":'6W-(3')"+%"D.-(/'.*1&(3.K"LW3-(*.)"+%"*%+(+.)"&%:&%)(L.)"%/")H)"&%):%3-(L')"

:.W)%)K" 6."*.['&W." +%" %66')" 3'/" &1J(*%/%)" +(3-.-'&(.6%)"*(6(-.&%)K=#"*(%/-&.)" %/"012(3'"

%)-&.-%J(.)" )(*(6.&%)" +%" &%:&%)(E/" %&./" (*:6%*%/-.+.)" %/" 3'/-&." +%" 6." :'F6.3(E/"

+()(+%/-%==!""

#

@"8."# "'5,)"?# ,%# 4,-&(# ')"&,)0(2# I,0&)(# +,%# $"W-?# 8,0&,0"),-# +,# *5D,),-# C# A(*6),-# A"0# -.+(#

+,-"$"),8.+(-# (# ,08")8,%"+(-# ,0# $).-.(0,-# 8%"0+,-&.0"-2# B2223# 90# Fieo?# -.0# ,<8,$8./0?# A"0# -.+(#

4(%$,"+(-# &(+(-# %(-# 4)5$(-# ")*"+(-# # ]5,# A"0# A,8A(# -5# "$").8./0# C# (&)(-# A"0# -.+(# "$%"-&"+(-#

+,'.0.&.7"*,0&,2# 9%# 8(0&)(%# +,# 8"-.# %"# &(&"%.+"+# +,# %(-# *,+.(-# +,# 8(*50.8"8./0# .*$.+,# ]5,# %"#

($.0./0# $X6%.8"# 0"8.(0"%# ,# .0&,)0"8.(0"%# 8(0(=8"# ,0# -5# *(*,0&(# ,-&,# -"04).,0&(# 8"$W&5%(# ]5,#

&)"-8,0+,)Y#"# %"#A.-&()."# 8(*(#H45,))"# -58."K2# L"-.# &),-#+;8"+"-#+,-$5;-# -,#"6).)Y0# %(-#")8A.7(-#

('.8."%,-#]5,#-,J"%"0#"#98A,7,))W"#8(*(#,%#$).08.$"%#),-$(0-"6%,2K#XT.)-%66./')K"=88?4"#7?C"&

P%5'&G./+'" %6" +'F6%" +()3H&)'K" n')1" DE:%G" i'&-(66'" X#<?79#<;=CK" .6" -(%*:'" ]H%"

(*:6%*%/-E" %/" )H" )%2%/('" 6." &%5'&*." %6%3-'&.6" [" 6." 6%[" +%" .*/()-W.=@" :.&." JH%&&(66%&')"

:&%)')K"3'/"%6" 5(/"+%":&%L%/(&".33('/%)"&.+(3.6%)"5H-H&.)K"+('"3'/-(/H(+.+"." 6.":'6W-(3."+%"

%2-%&*(/('" +%" 6." JH%&&(66.!" XTE&+'L.K" #<;<d" R%" y%33I(" w" ZE*%GK" =88;C" Y+%*a)K" 6."

.*/()-W.K" :.&." 6."*.['&W." +%" 6')" 3.)')K" /'" )(J/(5(3E" /(/JH/." J.&./-W." +%" )%JH&(+.+4" +%6"

-'-.6"+%"6."J%/-%".*/()-(.+.K"H/"+(%G":'&"3(%/-'"5H%"+%).:.&%3(+."'"%b%3H-.+."+%):H1)"+%"

I.F%&" )(+'" 6(F%&.+.d" '-&')" 5H%&'/" .*%/.G.+')" ."*H%&-%K" I')-(J.+')" 3'/)-./-%*%/-%" '"

=#" ,6" 5H&'&" ./-(3'*H/()-." 5'*%/-.+'" :'&" ,)-.+')" S/(+')" " )%" *.-%&(.6(G." %/" %6" 66.*.+'" i6./" TE/+'&4" ^Y"

-&.L1)" +%" 6." &%+" +%" )H)" )%&L(3(')" +%" (/-%6(J%/3(." &%.6(G./" ':%&.3('/%)" -&./)5&'/-%&(G.)" :.&." )%3H%)-&.&K"-'&-H&.&K"L('6.&K"%/3.&3%6.&K".bH)-(3(.&"["+%).:.&%3%&"."+%3%/.)"+%"*(6%)"+%"*Hb%&%)"["I'*F&%)"':')(-'&%)"."6')"&%JW*%/%)"*(6(-.&%)")(/"(*:'&-.&"%6":.W)"%/"%6"]H%"&.+(3./!_"XT.)-%66./')K"=88?4"#7?C"

"==" ,/"%)-%" )%2%/('"=7"'5(3(.6%)" 5H%&'/"%/L(.+')"." 6." ,)3H%6."+%" 6.)"Y*1&(3.)":.&." " )%&" .+(%)-&.+')" X)'F&%"

-'+'"%/"':%&.3('/%)"+%"6.")%6L.!C"XT.)-%66./')K"=88?C""=@" D."D%["+%"Y*/()-W."5H%":HF6(3.+."%6"=;"+%")%:-(%*F&%"+%"#<?;"%/"%6"R(.&('"Q5(3(.6"+%" 6."h%+%&.3(E/!" ",6"

:&(*%&".&-W3H6'"3'/-(%/%"6'")(JH(%/-%4""" ^V%"+%3&%-.".*/()-W."."5.L'&"+%"-'+.)".]H%66.)":%&)'/.)"%/"3'/-&."+%"]H(%/%)"+%"I.[."%b%&3(-.+'".33(E/"

:%/.6K"./-%"6')"-&(FH/.6%)"+%"6."h%+%&.3(E/"'"./-%"6')"-&(FH/.6%)"+%6"R()-&(-'"h%+%&.6"%/"*.-%&(."+%"5H%&'"3'*c/K"I.)-."6."5%3I."+%"%/-&.+."%/"L(J'&"+%"6.":&%)%/-%"6%[K":'&"6')"+%6(-')"+%")%+(3(E/K"'":'&]H%"I.[./"(/L(-.+'K" (/)-(J.+'" '" (/3(-.+'" ." 6." &%F%6(E/K" '" :'&" 3'/):(&.3(E/" H" '-&')" +%6(-')" 5'&*./+'" :.&-%" +%" 6')"J&H:')"(*:H6).+')":'&"*EL(6%)":'6W-(3')"3'/"%6":&':E)-('"+%".6-%&.&"6."L(+."(/)-(-H3('/.6"+%6":.W)K"]H%"/'")%./"3'/-&."6."L(+.K"6."(/-%J&(+.+"3'&:'&.6K"-%&&'&()*'"'")%3H%)-&'!_"X%/"T.)-%66./')K"=88?4"=<A9=<7C"

32

/H%L.*%/-%".:&%I%/+(+')!",)":'&"%)-'"%)"]H%".6JH/')"':-.&'/"IH(&"+%6":.W)"'"3.*F(.&"+%"

(+%/-(+.+!"XT.)-%66./')K"=88?C"

D.)" :.6.F&.)" +%6" J%/%&.6" RH&.G'"0'&%/'K" :'&" H/" 6.+'K" [" +%6" +(&(J%/-%" +%6" iT0K"

Y&/'6+'"0.&-W/%G"y%&+HJ'K":'&"'-&'K"+%)3&(F%/"F(%/"6."5H-(6(+.+"+%"6'"3'/)-(-H3('/.6*%/-%"

%)-.F6%3(+'4"^6.":'6(3W."%)-a":&%:.&.+.":.&.")%JH(&"3'*F.-(%/+'"."JH%&&(66%&')")(/"(*:'&-.&"

]H%"6')"bH%3%)"6')".F)H%6L%/_!"XRH&.G'K"%/"T.)-%66./')K"=88?4"=<=C"

^siH%+%" .6JH(%/" 3&%%&" ]H%" 6." &%5'&*.":'6W-(3." [" 6." .*/()-W." (*:6(3.&a/" .6"*%/')"

&%):%-'"." 6.".3-(L(+.+"+%" 6."':')(3(E/" &%L'6H3('/.&(." )(" 6')" 3H%&:')":'6(3(.3')" 3'/-(/c./"

(*:'/(%/+'"%6"&1J(*%/"+%".&F(-&.&(%+.+K")%3H%)-&'K"-'&-H&."[".)%)(/.-'"%/"-'+'"':H%)-'"."

6.)"J.&./-W.)"3'/)-(-H3('/.6%)t_"X0.&-W/%GK"%/"T.)-%66./')K"=88?4"=<#C""

Y6"/'")%&"6."6%["+%".*/()-W."J%/%&.6K"6."%2(J%/3(.":'&"H/."L%&+.+%&."6%["+%".*/()-W."

J%/%&.6" 3'/-(/HE"[K"%/"#<?;K" 3'*%/GE"."I.F6.&)%"+%"["."%2(J(&)%" 6.":&%)%/-.3(E/"+%" 6')"

+%).:.&%3(+')":'6W-(3')"+%"%)-%":%&('+'"+%"&%:&%)(E/"+%"5(/.6%)"+%"6')".`')"78K"?8"[";8!"V("

F(%/")%" -&.-."+%"+()-(/-')":&()('/%&')"["IHF'"'-&')"+%).:.&%3(+')" X/'")E6'"1)')CK".*F.)"

+%*./+.)"I./"%)-.+'"+%".6JH/."*./%&.":&%)%/-%)"+%)+%"%/-'/3%)!""XY66(%&K"=88<C"

"

,/" 012(3'K" 6')" *.&3')" bH&W+(3')K" 3'/-&'6%)" (/)-(-H3('/.6%)" '" )H:%&L()(E/" )'3(.6" )'F&%" %6"

.:.&.-'"+%")%JH&(+.+"I./"F&(66.+'":'&")H".H)%/3(.!"D."F&H-.6(+.+"3'/"]H%")%"%6(*(/E"."6')"

':')(-'&%)"5H%"-a3(-.*%/-%".3%:-.+.":'&"*%+(')"[".3-'&%)")'3(.6%)K"6')"3H.6%)"3&%W./"]H%"

%&."%6":&%3('"]H%"+%FW.":.J.&)%":'&" 3'/)%&L.&" 6.":.G" )'3(.6!" ^uH%+.&'/"%)-.F6%3(+.)" 6.)"

3'/+(3('/%)"/%3%).&(.)":.&.":%/.6(G.&"."6."':')(3(E/":'6W-(3."+%"(G]H(%&+."["+.&":(%K".)WK".6"

%*:6%'"+%6".:.&.-'"%)-.-.6"%/"%6"3'*F.-%"."6."Ç)HFL%&)(E/Ç!_"XY/-(66E/9T0RiRmK"=88;4"#BC"

,/" %6" 3.)'" *%2(3./'K" " 6." ^:.G_" " I." )(+'" :&'3H&.+." *%+(./-%" %2-%&*(/'" X/'" *%+(./-%"

.33(E/" 3''&+(/.+." +%" /%J'3(.3(E/" :'6W-(3.C" +%" 6.)" F.)%)" )'3(.6%)" [" 6')" /c36%')" +%" 6."

(/)H&J%/3(.d" ^3.+."L%G"]H%" )%"I."':-.+'":'&"%6" %2-%&*(/('"+%" 6.)"F.)%)" )'3(.6%)" )%"I./"

)%/-.+'"6.)"3'/+(3('/%)":.&."6."&%3H&&%/3(."."6."JH%&&(66.!_"X0'/-%*.['&K"=8#84"#;=C"

" T.&6')" 0'/-%*.['&" I.F6." +%" 6." 3'/)-./-%" ^3'/5H)(E/_" XI.F6./+'" +%6" +()3H&)'"

'5(3.6C"%/-&%"6.":.G")'3(.6"["6.".H)%/3(."+%"(/3'/5'&*(+.+":':H6.&d"+%6"%&&'&"+%"3'/3%F(&"6')"

*'L(*(%/-')":':H6.&%)".&*.+')"X["6')"/'".&*.+')"-.*F(1/C"["6."L('6%/3(.")'3(.6"3'*'"%6"

33

&%)H6-.+'"+%"6."(/3'/5'&*(+.+")'3(.6d"3'*'")H3%)')".()6.+')K".-'*(G.+')K"+%)6(/+.+')"+%"

6.)"3'/+(3('/%)")'3(.6%)"X%3'/E*(3.)"[":'6W-(3.)C":&%%2()-%/-%)"%/"6.)"]H%")%"J%)-./d"3'*'"

)(-H.3('/%)" (/+%:%/+(%/-%)" +%" H/." L('6%/3(." %)-.F6%" %" (/)-(-H3('/.6(G.+." ]H%K" :'&"

3'-(+(./.K" )%" /.-H&.6(G." [" :'&" %66'" %)" *H3I.)" L%3%)" (/-%&:&%-.+." 3'*'" H/." )H%&-%" +%""

%)-.F(6(+.+" [" :.G" )'3(.6!" N/+(3.+'&%)" 3'*'" 6." :'F&%G.K" 6." +%)(JH.6+.+" )'3(.6" %2-&%*.K" 6."

*.&J(/.3(E/K" 6')".6-')" W/+(3%)"+%"+%)%*:6%'K" 6." L(L(%/+."+%5(3(%/-%K"%6" ./.65.F%-()*'K" 6."

(/)H5(3(%/3(."'"(/%2()-%/3(."+%")%&L(3(')":cF6(3')"["+%").6H+K"6."+%)/H-&(3(E/K"6."+()*(/H3(E/"

+%6":&'*%+('"+%"L(+."%/"G'/.)"&H&.6%)"["*.&J(/.+.)K"

"8(0-&.&5C,0# 50# "*$%.(# -.-&,*"# +,# 7.(%,08."# %,4"%?# .0-&.&58.(0"%.="+"?# ]5,# ,%# 9-&"+(# C# %"# -(8.,+"+#

8(0'50+,0#8(0# %"#,-&"6.%.+"+#C# %"#$"=#-(8."%2#R%#$,)*"0,8,)#,0#-.%,08.(#,-&"#7.(%,08."#8(0-&"0&,#C#

$),7."?#%"#.08(0'()*.+"+#-,#8(0'50+,#8(0#,%#.0.8.(#+,#%"#7.(%,08."#-(8."%#*.-*"#C#0(#-,#%,#,0&.,0+,?#

$),8.-"*,0&,?# 8(*(#50#$)(8,-(#]5,#-5)4,#$")"#]5,#8,-,0?#*,04r,0#(# -,# -5-$,0+"0# &,*$()"%#(#

+,'.0.&.7"*,0&,# %(-# .0+.8"+(),-# +,# %"# 7.(%,08."# -(8."%# $),7."# .0-&.&58.(0"%.="+"2# 90# ,-&,# 8"-(?# %"#

.08(0'()*.+"+# -(8."%# 0(# .0.8."# %"# 7.(%,08."p# $()# ,%# 8(0&)").(?# -5)4,# $")"# ]5,# ,-"# 7.(%,08."# 8,-,2#

X0'/-%*.['&K"=8#84"#;=C""

,6"/'"-'*.&"%/"3H%/-."6."3.H).6(+.+")'3(.6"+%6":&'F6%*.":.&."%2:6(3.&"[K"%/"3'/)%3H%/3(.K"

(/-%&L%/(&"%/"6')"3'/56(3-')K"bH)-(5(3."["5'*%/-."%6".:6(3.&"*%+(+.)"c/(3.*%/-%":'6(3(.3.)"'"

*(6(-.&%)d"%/"'-&.)":.6.F&.)K"%)"H/."%)-&.-%J(."+%"3'*F.-%4""

"!"# 8")"8&,).="8./0# +,# &"%,-# *(7.*.,0&(-# +,-+,# %"# $,)-$,8&.7"# ('.8."%# '()*"# $")&,# C"# +,# 50"#

,-&)"&,4."# +,# 8(*6"&,# C# 0(# +,# 50# "0Y%.-.-# $")"# 8(*$),0+,)%(-# 8(*(# $)(8,-(-# -(8."%,-2# G"%#

$,)-$,8&.7"# $(-&5%"# # 50# ),+588.(0.-*(# 8(0-&"0&,# ]5,# 8(0'50+,# C# ,%.*.0"# 8")"8&,)W-&.8"-# -(8."%,-#

.0+.-$,0-"6%,-#$")"#,0&,0+,)#$(%W&.8"*,0&,#%(-#*(7.*.,0&(-#")*"+(-#C#$")"#$%"0&,")#-5#-(%58./0#

+,#'(0+(2#R%#),+58.)#"%#*Y<.*(#%(-#+"&(-#+,#8"5-"%.+"+#-(8."%#-,#'"7(),8,#%"#"$%.8"8./0#+,#*,+.+"-#

-(%"*,0&,#$(%.8."8"-#(#*.%.&"),-2#

X0'/-%*.['&K"=8#84"#;89#;#C""""

D')" &%):'/).F6%)"+%" 6." )%JH&(+.+"/.3('/.6"%/"012(3'K".6" (JH.6"]H%")H)":.&%)"%/"%6"T'/'"

VH&K" 3&%W./" )%&"*1+(3')" &%):'/).F6%)" +%" 6." ).6H+" /.3('/.6K" %*:6%./+'" ^*%+(3.*%/-')_"

3'*'"6."-'&-H&.K"6."+%).:.&(3(E/"5'&G.+."["%6".)%)(/.-'"XYJH.['K"=88=CK":&%)3(/+(%/+'"+%"

6." 6%J.6(+.+" [" %6" %)-.+'" +%" R%&%3I'!" D'" (*:'&-./-%" ." &%).6-.&" +%" -'+'" %)-'" %)" ]H%" %/"

012(3'"%)-')")()-%*.)"+%")%JH&(+.+"I./"&%):'/+(+'"c/(3.*%/-%"."(/-%&%)%)"+%"6.)"36.)%)"

:'6W-(3.)" +'*(/./-%)d" %/" +()-(/-.)" 1:'3.)K" )%" :.&.*(6(-.&(GE" ." 6')" J&H:')" +%"

34

3'/-&.(/)H&J%/3(.K" 3&%./+'" %/" +()-(/-')"*'*%/-')" 6." z&(J.+." z6./3.K" 6')" m.63'/%)" [" %6"

z.-.66E/"Q6(*:(.K"+'-.+')"+%"(*:H/(+.+!"XV%&&.K""=887C"

" Q-&." %)-&.-%J(." +%" 3'*F.-%" 3'/-&." 6." JH%&&(66." %&." 6'" ]H%" )%" +(5H/+W." X'" /'" )%"

+(5H/+W.C".3%&3."+%"1)-.!"D.":&%/).":.).F.":'&"6."3%/)H&."+%6",)-.+'K"6."3H.6"/'":%&*(-W."

]H%"6.)".33('/%)"["*'-(L')"+%"6')"J&H:')"'&J./(G.+')"66%J.&./".6"J&H%)'"+%"6.":'F6.3(E/!"

XR%6"T.)-(66'K"=88Bd"$&%b'"R%6.&F&%K"=88Bd"P'+&WJH%GK"=88?C"O'"I.FW."J&H:')"+%"+%&%3I')"

IH*./')" ]H%" )%" ':H)(%&./" ." 6')" %23%)')" JHF%&/.*%/-.6%)!" D." &%:&%)(E/" %&." %/-'/3%)"

:'3'" 3'/'3(+." ." /(L%6" /.3('/.6" %" (/-%&/.3('/.6K" [" 6." JH%&&(66." /'" )E6'" &%:&(*(+."

+(&%3-.*%/-%K")(/'"-.*F(1/".3.66.+."["*(/(*(G.+.!"R%/-&'"+%".]H%66'"]H%")W")%"+%3W."+%"6."

JH%&&(66."%/-&."6."3&(*(/.6(G.3(E/"+%"6."*()*.!"D')"*%+(')"(/5'&*.-(L')K"F(%/"6'"*%/3('/."

T.&6')"0'/-%*.['&K")'/"H/'"+%"6')":&(/3(:.6%)"*%3./()*')"&%-E&(3')"^:.&."+%)6(/+.&"."6."

.H-'&(+.+" :'6W-(3." +%" 6." .H-'&(+.+" :'6(3(.+." '" *(6(-.&!" X!!!C" ,)" *H[" c-(6" %6" )(6%/3('K" 6."

3'*:6(3(+.+" %" (/36H)'" 6." +()-'&)(E/" J%/%&.+." :'&" -%6%L()(E/K" &.+('" [" :&%/)." %)3&(-.!_"

X0'/-%*.['&K"=8#84"#;?C"D.H&."T.)-%66./')"+(3%"3'/"&%6.3(E/"."%)-'"6'")(JH(%/-%4"

"

^D')" *%+(')" +%" 3'*H/(3.3(E/" )(*:6%*%/-%" %)-a/" 3%&&.+')" ." 6.)" 5.*(6(.)" Ñ+,# %(-#

45,)).%%,)(-?#+,&,0.+(-?#+,-"$"),8.+(-?#,&82ÖK"+(5H/+%/"3'/")%/).3('/.6()*'" 6')" ).6+')"+%"

6.)".33('/%)".&*.+.)K" [" 6')":'3')":%&('+()-.)"]H%" )%".-&%L%/"."+%/H/3(.&" 6')".-&':%66')"

'3H&&(+')")'/"3%/)H&.+')"%" (/-(*(+.+')":'&" 6."V%3&%-.&W."+%"Z'F%&/.3(E/!_"XT.)-%66./')K"

=88?4"=B<C"

"

D." 3&(*(/.6(G.3(E/" +%" 6." (/3'/5'&*(+.+" )'3(.6" /'" )E6'" )%" I.3W." ." -&.L1)" +%" 6')" *%+(')"

(/5'&*.-(L')K" )(/'" ." -&.L1)" +%" 3(%&-.)" 6%[%)" 5'&*H6.+.)K" 3'/" -'+." (/-%/3(E/K"

.*F(JH.*%/-%!",/":.6.F&.)"+%"T.&6')"0'/-%*.['&4""

"!"# 7.(%,08."# +,# 9-&"+(# A"# "-5*.+(# (&)"-# 7")."0&,-# 8(*(# %"# "88./0# %,4"%2# B2223# :,# ),'.,)(# "# %"#

'()*5%"8./0#+,# %,C,-#]5,#8(0+58,0#+,#*"0,)"#,<$,+.&"#"# %"#8).*.0"%.="8./0#+,# %"# .08(0'()*.+"+#

-(8."%2# I(-# -5$5,-&(-# -(0# ,-,08."%,-# ,0# ,-&"# 7.(%,08."># $).*,)(?# ,%# 5-(# $(%W&.8(# +,%# :.0.-&,).(#

VX6%.8(p#-,450+(?# %"#"*6.4r,+"+#,0# %"# ),+"88./0#+,# %"-# %,C,-#]5,#$5+.,)"0#"-,0&")#8(*(#+,%.&(-#

"5&/0(*(-# 8(0# $,0"%.+"+# $)($."# -/%(# &,0&"&.7"-# (# .0&,08.(0,-# ]5,# $()# '5,)="# .0&,)$),&")Y0#

$(%W&.8"*,0&,# %(-# .*$")&.+(),-# +,# D5-&.8."2# R*6(-# -5$5,-&(-# '"7(),8,0# %"# +.-8),8.(0"%.+"+# +,%#

:.0.-&,).(#VX6%.8(#C#+,#%(-#D5,8,-#,0#%"#),$),-./0#-,%,8&.7"#+,#8.5+"+"0(-#(#4)5$(-p#&"*6.;0?#$()#%"#

35

.0A.6.8./0# +,# "88.(0,-# %,4"%,-# 8(0&)"# "4,0&,-# +,%# 9-&"+(?# '"8.%.&"0# %"# .*$50.+"+2" X0'/-%*.['&K"=8#84"==BC""

"

!"#7.(%,08."#+,#9-&"+(#,0#:;<.8(##

#

i.&." T.&6')" 0'/-%*.['&" :H%+%" I.F6.&)%" +%" L('6%/3(." +%" ,)-.+'" %/" *'L(*(%/-')" +%"

(/3'/5'&*(+.+" )'3(.6" ^3H./+'" 6." :&'3H&.3(E/" [" 6." (*:.&-(3(E/" +%" bH)-(3(.K" [" .H/" 6."

6%J()6.3(E/K" 3'/3H&&%/" 3'/" 6." &%:&%)(E/" :'6(3(.6" '" *(6(-.&" +%)+%" %6" .&&%)-'" +%" 6W+%&%)" ["

&%:&%)(E/"(/+()3&(*(/.+."I.)-."*.).3&%)"["+%).:.&(3('/%)"5'&G.+.)!_"X0'/-%*.['&K"=8#84"

#;@C"0%/3('/."]H%"I.["%):.3(')"+%".33(E/"%)-.-.6"3'/"*%3./()*')":&':(')""X*H3I')"+%"

%66')" )()-%*a-(3')" [" &%3H&&%/-%)C!" ,/" 012(3'" HF(3." +')" /(L%6%)" %/" 6')" ]H%" 6.)" *%+(+.)"

&%:&%)(L.)"["L('6%/-.)"+%6",)-.+'"':%&./4"%6"/(L%6"$(%.8."%#["*.%.&")?#["%6"/(L%6"$)(8,-5"%2""

" ,6":&(*%&'")%"&%5(%&%"."6."3&%.3(E/"+%"^3'*./+')"+%"%6(-%"3'*'"5H%&G.)"+%"3I']H%"

:.&." %/5&%/-.&" *'L(*(%/-')" :':H6.&%)" /'" .&*.+')_!" X0'/-%*.['&K" =8#84" #;@C" S/."

3'/)-./-%" %/" /H%)-&'" :.W)" I." )(+'" 6." :.&-(3(:.3(E/" -./-'" +%" 6." :'6(3W." bH+(3(.6K" 3'*'" +%6"

%b1&3(-'"X["+%"6')":.&.*(6(-.&%)C"%/"^3'*./+')"+%"3I']H%_"["%/"*()('/%)":'6(3(.6%)!""

" ,6")%JH/+'")%"&%5(%&%"."^6.".33(E/"3''&+(/.+."+%6"0(/()-%&('"icF6(3'"["+%"6')"bH%3%)"

]H%"'FL(./":&'3%+(*(%/-')"6%J.6%)":.&.".3H).&K"3.)-(J.&"["&%)'6L%&"+%"*./%&."%2:%+(-."%"

(/bH)-.!" ,/" 6." +%).:.&(3(E/" 5'&G.+.K" 6." .]H(%)3%/3(." +%" .H-'&(+.+%)" :'6W-(3.)K" *(6(-.&%)K"

:'6(3(.6%)"["bH+(3(.6%)"."/(L%6"*H/(3(:.6K"%)-.-.6"["5%+%&.6!_"X0'/-%*.['&K"=8#84"#;@C""

" ,/" )H" /'L%6." I()-E&(3." Xd5,))"# ,0# ,%# V")"W-(C?" %)-%" .H-'&" +%)3&(F%" 6.)" -a3-(3.)"

':%&.-(L.)"]H%")%" (*:6%*%/-.&'/"%/"ZH%&&%&'4".66./.*(%/-')" (6%J.6%)"*H6-(-H+(/.&(')"%/"

:%]H%`.)" 3'*H/(+.+%)K" +%):'b')" [" .:&%I%/)('/%)" 3'6%3-(L.)" )(/" )H)-%/-'" 6%J.6d" %)-')"

':%&.-(L')" %&./" 66%L.+')" ." 3.F'" +H&./-%" 6." *.+&HJ.+." X5.3-'&" )'&:&%).C!" $%/W./" %6" 5(/"

%):%3W5(3'"+%".*%+&%/-.&"."6.":'F6.3(E/"["+()H.+(&6."+%"3'/-(/H.&"3'/"6."L('6%/3(.")'3(.6K".6"

-(%*:'" ]H%" )%" FH)3.F." ."*(6(-./-%)K" +(&(J%/-%)" '" 5.*(6(.&%)" +%" 1)-')d" ." -&.L1)" +%" %)-')"

:&'3%+(*(%/-')" )%" )%6%33('/.F.".".]H%66')"3./+(+.-')"." )%&" -'&-H&.+')K"+%).:.&%3(+')"'"

36

%/3.&3%6.+')!",)-.)"-a3-(3.)"*(6(-.&%)"5H%&'/"6.)"]H%")%"(*:6%*%/-.&'/"-.*F(1/"+H&./-%"6."

JH%&&."5&W."%/":.W)%)"3'*'"VH+a5&(3.K"y(%-/.*K"Y&J%/-(/.K"S&HJH.[K"TI(6%"["ZH.-%*.6.!=B""

"

,)-." 5'&*." +%" ':%&.&" IHF(%&." )(+'" (*:')(F6%" )(/" 6." 3''&+(/.3(E/" +%" +()-(/-.)" (/)-./3(.)"

JHF%&/.*%/-.6%)" X." /(L%6" *H/(3(:.6K" %)-.-.6" [" 5%+%&.6CK" [" /')" I.F6." +%" H/." (//%J.F6%"

&%):'/).F(6(+.+" :'6W-(3." +%6" ,)-.+'"*%2(3./'K" +%" H/." b%&.&]HW." :'6W-(3." ]H%" 6." 3''&+(/EK"

:6./(5(3EK" %/3HF&(EK" 5.3(6(-E" [M'" 6." ^+%bE" )%&_!" D." +%3()(E/" :'6W-(3." /'" )E6'" :%&*%E" 6."

.H-'&(G.3(E/":.&." 66%L.&"."3.F'" 6')"':%&.-(L')K" )(/'" -.*F(1/"%6":&':('"%/-&%/.*(%/-'"+%"

6')"3H%&:')":'6(3(.3')"["*(6(-.&%)!"^D.".H-'&(G.3(E/"+%" 6." b%&.&]HW.":'6W-(3."%)" (/I%&%/-%"."

%)-%"-(:'"+%"':%&.-(L')"66.*.+')"-13/(3.*%/-%"+%"Ç3'/-&'6"+%"*.).)Ç!"O'"I.["H/"+(L'&3('"

%/-&%" 6." +%3()(E/" :'6(3(.3." [" *(6(-.&" [" 6." +%3()(E/" :'6W-(3." +%)+%" %6" %/-&%/.*(%/-'" +%"

3H.+&')"I.)-."6.":6./%.3(E/"+%"6')"':%&.-(L')"[")H"%b%3H3(E/!_"X0'/-%*.['&K"=8#84"#<8C"

" ,)"(/3H%)-('/.F6%K":H%)K"%6"L.6'&":'6W-(3'"["*(6(-.&"+%"%)-.)"%)-&.-%J(.)"%/"3H./-'"."

6.)" 3H%)-('/%)" -a3-(3.)" :'&" %6" I%3I'" +%" -&.-.&)%" +%" .3-(L(+.+%)" /'" (*:&'L().+.)K"

'&J./(G.+.)K" :6./(5(3.+.)" [" :&%%)-H+(.+.)!" ,/" %)-%" )%/-(+'" %)" ]H%" %)-%" -(:'" +%" .33('/%)"

&%:&%)(L.)"/'"(*:6(3.F./"&(%)J')"*(6(-.&%)"/(":'6(3(.6%)!",6"5.3-'&")'&:&%).K"6.")H:%&('&(+.+"

%/".&*.*%/-'"[" 6')" &%3H&)')"IH*./')"["*.-%&(.6%)" (/L%&-(+')K"/'")H:'/W./" &%)()-%/3(.)"

&%.6%)!" =A" ,6" L%&+.+%&'" &(%)J'" %&." +%" -(:'" :'6W-(3'!" ,/" %)-%" )%/-(+'" %)" ]H%K" 3'*'" [." )%"

=B" ,)-%"*'+H)" ':%&./+(" 3'/-(/%/-.6K" 3.F%"*%/3('/.&K" )(JH%" )(%/+'" H/" &%3H&)'" H-(6(G.+'" %/" 6." .3-H.6(+.+!"

uH1"*%b'&"%b%*:6'"]H%"6."&%:&%)(E/"]H%")%"+('"%/"V./"V.6L.+'&"Y-%/3'"%/"%6"=887K"+'/+%"6."*.+&HJ.+."+%6"@"+%"*.['"IHF'"3.-%')"L('6%/-')K":%&)'/.)"+%-%/(+.)K"J'6:%.+.)K"-'&-H&.+.)K"H6-&.b.+.)K"-&.)6.+.+.)".":&()(E/K".J&%+(+.)"'"L('6.+.)")%2H.6*%/-%!""X0'/-%*.['&K"=8#8C"

"=A" ,/"%)-%")%/-(+'"%)"]H%")%"3H%)-('/."%6"-1&*(/'"+%"^ZH%&&."VH3(._4"/'":H%+%"-&.-.&)%"+%"H/."JH%&&."3'/"

-.6".)(*%-&W."+%"3'/+(3('/%)K"/(")(")%"3'/)(+%&.K")'F&%"-'+'K"%6"5.3-'&"+%6"*'-(L'"+%"6.)".&*.)"+%".*F.)":.&-%)d" )%" -&.-.K" *a)" F(%/K" +%" H/" 3&(*%/" +%" ,)-.+'" ]H%K" ^.6" *.&J%/" +%" 6." T'/)-(-H3(E/" -(%/%" 3'*'":&':E)(-'" %6" ./(]H(6.*(%/-'" +%" 6')" 3'/)(+%&.+')" %/%*(J')" (/-%&/')" :'&" *%+('" +%" )H" 6'3.6(G.3(E/K")%JH(*(%/-'K" 3.:-H&.K" (/-%&&'J.-'&('" ." -&.L1)" +%" 6." -'&-H&.K" *./-%/(*(%/-'" %/" 3a&3%6%)" 36./+%)-(/.)K"+%).:.&(3('/%)" 5'&G.+.)" [" ,D,858.(0,-# %2-&.bH+(3(.6%)" :'&" :.&-%" +%" 6.)" 5H%&G.)" .&*.+.)K" .J%/-%)":'6(3(.3')K"+%"(/-%6(J%/3(."["J&H:')":.&.*(6(-.&%)_"XD."n'&/.+."%/"6W/.K"=#"+%"%/%&'"+%"=8##C!"T'*'"[.")%"*%/3('/E".6"(/(3('"+%"%)-%"-&.F.b'K"%6"-1&*(/'"+%"^JH%&&._")%"&%3I.G.+'":'&"'&J./(G.3('/%)":'6W-(3.)K"[."]H%")')-(%/%/"]H%"1)-%"%)"H/".&JH*%/-'":&'L%/(%/-%"["H-(6(G.+'":'&" 6')"J'F(%&/')".H-'&(-.&(')K":'&" 6.)"+(3-.+H&.)"*(6(-.&%)"%/"Y&J%/-(/.K":'&"%b%*:6'K":.&."bH)-(5(3.&"6."&%:&%)(E/"(/+()3&(*(/.+.!"D."+():.&(+.+"+%"LW3-(*.)"%)"H/'"+%"6')"5.3-'&%)"]H%"I.3%"(/.+%3H.+'"6."+%/'*(/.3(E/"+%"^JH%&&._!"P').&('"NF.&&."+%"i(%+&.K"5H/+.+'&."+%"%)-%"c6-(*'K"+(3%".6"&%):%3-'4""Ü|'"/'"6%"66.*'"45,))"#-58.""."%)-%":&'3%)'":'&]H%".)W" 6%" 66.*.F." %6" +(3-.+'&" y(+%6." ." 6." JH%&&(66.d" *%" *'6%)-." *H3I'" ]H%" ]H(%&./" %/)H3(.&" H/." 6H3I."&%(L(/+(3.-(L."+%6":H%F6'"+%"012(3'"'"+%"3H.6]H(%&":.W)!"|'"6%"66.*'"-%&&'&()*'"+%",)-.+'!_""XD."n'&/.+."

37

*%/3('/EK" 6')" *%+(')" +%" (/5'&*.3(E/" bHJ.&'/" H/" :.:%6" :&'-.JE/(3'" X%/3HF&(+'&K" %/" 6."

*.['&W."+%"6')"3.)')C4"

"9%#*,0-"D,#-(8."%#]5,#($,)"&.7(-#"-W#,08")0"0#,-#+,#&"%#*"40.&5+#]5,#0(#$5,+,0#"$%.8")-,#-.0#50#

*"0+"&(# +,# %"-# "5&().+"+,-# $(%W&.8"-2# 9-# ),85)),0&,# ,0# %"# A.-&()."# +,# ,-&,# &.$(# +,# "88.(0,-# ,%#

*,8"0.-*(#),&/).8(#$")"#+,-%.0+")#"#%"#"5&().+"+#$(%W&.8"#+,#%"#"5&().+"+#$(%.8."8"#(#*.%.&")2#9-&(#

,<$%.8"# C# &()0"# 0,8,-")."# 50"# 8(()+.0"8./0# *Y-># %"# +,# %(-# *,+.(-# .0'()*"&.7(-2# 9-# *5C# X&.%# ,%#

-.%,08.(?# %"# 8(*$%.8.+"+# ,# .08%5-(# %"# +.-&()-./0# 4,0,)"+"# $()# &,%,7.-./0?# )"+.(# C# $),0-"# ,-8).&"2_"X0'/-%*.['&K"=8#84"#;?C""Y/-%)" +%" %/-&.&" .6" )(JH(%/-%" .:.&-.+'K" :'+&W.*')" &%)H*(&K" ." J&'))'"*'+'K" .]H%66'" ]H%"

(/-%&%).":.&."6.":&%)%/-%"(/L%)-(J.3(E/4"

"

,/"-1&*(/')"J%/%&.6%)K":H%+%"+%3(&)%"]H%K"./-%"6."(/3'/5'&*(+.+"+%"3(%&-')")%3-'&%)"+%"6."

)'3(%+.+"3(L(6"]H%")%"'&J./(G.&'/K")%"&%):'/+(E"3'/"H/.""&%:&%)(E/":.&-(3H6.&*%/-%"5%&'G!"

D.)"+()3&%:./3(.)")%"-&.+Hb%&'/"9"[")%")(JH%/""-&.+H3(%/+'K"3'*'"H/.":&a3-(3.")()-%*a-(3.K"

.H/]H%" .3.66.+.9" %/" *.-./G.)" +%" :H%F6')" %/-%&')K" +%-%/3('/%)" (6%J.6%)K# -'&-H&.)K#

%b%3H3('/%)"(6%J.6%)K":&%)')":'6W-(3')"["+%).:.&(3('/%)"5'&G.+.)"+%":%&)'/.)!"

&

,)-."c6-(*."5'&*."+%"&%:&%)(E/K"6."+,-"$").8./0#'()="+"#+,#$,)-(0"-K"5H%"H/'"+%"6')")%66')"

+%"%)-%":%&('+'!",)":&%3().*%/-%"6."/%3%)(+.+"+%"3'*:%/).&"%6".6-'"&(%)J'":'6W-(3'"+%"6.)"

.33('/%)"&%:&%)(L.)"X.6JH/.)"+%"%66.)"./-%&('&*%/-%"+%)3&(-.)C"6'"]H%"/')":H%+%".[H+.&"."

%/-%/+%&"%6":'&]H1"+%"%)-.":&a3-(3.!"

#

!"#+,-"$").8./0#'()="+"#+,#$,)-(0"-#

"

0'/-%*.['&"I.F6."+%"6."+%).:.&(3(E/"5'&G.+."+%":%&)'/.)"3'*'"H/'"+%"6')"3&W*%/%)"+%"

,)-.+'"":'&"%23%6%/3(."]H%".5%3-E"."3%/-%/.&%)"+%"LW3-(*.)!"0%/3('/."]H%"""

"%"#7.(%,08."#+,#9-&"+(#,0#:;<.8(#-,#A"#*"0.',-&"+(#+,#*"0,)"#+,7"-&"+()"?#"# %(# %")4(#+,#7")."-#

+;8"+"-?#,0#,%#+,%.&(#+,#%,-"#A5*"0.+"+#+,0(*.+"+(#h+,-"$").8./0#'()="+"#+,#$,)-(0"-2h#9-#,%#-,%%(#

+,#%"#45,))"#-58."#+,#%(-#"J(-#-,&,0&"#+,%#-.4%(#cc#A"-&"#"%450(-#-.40(-#+,#),05,7(#,0#%(-#$).*,)(-#

%/"6W/%.K"#7"+%".J')-'"+%"=88?C"

"

38

"J(-#+,%#-.4%(#ccj2#b.#6.,0#"4,0&,-#$(%.8."%,-#+,#&(+(-# %(-#0.7,%,-#+,%#4(6.,)0(#A"0# .0&,)7,0.+(#,0#

,-&(-#+,%.&(-?# %"# $")&.8.$"8./0#+,%# ,D;)8.&(#A"#+,D"+(#50# -,%%(# .0+,%,6%,# ,0# %"-#"88.(0,-# ),$),-.7"-#

8(0&)"# %"# 45,)).%%"# *,<.8"0"# C# 8(0&)"# %(-# +,',0-(),-# +,# +,),8A(-# A5*"0(-# C# -(8."%,-# +,#

8(*50.+"+,-#.0+W4,0"-2"X0'/-%*.['&K"=8#84"=@AC"""

�)-.""5H%K"["%/".6JH/')"3.)')")(JH%")(%/+'K"H/."+%"6.)":&a3-(3.)"&%:&%)(L.)":'&"%23%6%/3(."

+%"*H3I')"J'F(%&/')":.&-(3H6.&*%/-%"%/"Y*1&(3."D.-(/.K".H/]H%"-.*F(1/")%"+('"%/":.W)%)"

+%"'-&')"3'/-(/%/-%)!"VH"^:&'+H3-'_K"%6"+,-"$"),8.+(# B$(%W&.8(3?#3'*'")%"*%/3('/."%/"%6"

:&E6'J'" +%6" N/5'&*%" ^OH/3." 0a)_" +%" 6." T'*()(E/" O.3('/.6" " )'F&%" 6." R%).:.&(3(E/" +%"

i%&)'/.)" +%" Y&J%/-(/.K" %)" H/" ^-&()-%" :&(L(6%J('" .&J%/-(/'_" ]H%" ^I'[" )%" %)3&(F%" %/"

3.)-%66./'"%/"-'+."6.":&%/)."+%6"*H/+'!_"XTH%)-.K""=88?4"@@@C"""

" i%&'K" s]H1" %)" " H/." +%).:.&(3(E/# 5'&G.+." [" ]H1" 3.&.3-%&(G." [" +()-(/JH%" ." %)-."

:&a3-(3."&%:&%)(L."+%"'-&.)t&,/"6."T'/L%/3(E/"N/-%&.*%&(3./.")'F&%"I,-"$").8./0#U()="+"#

+,#V,)-(0"-" X3&%.+.":'&"*(%*F&')"+%" 6."Q&J./(G.3(E/"+%" 6')"%)-.+')"Y*%&(3./')"\Q,Y\"

%/"#<<B"["5(&*.+.":'&"012(3'"%/"=88#CK"

"b,# 8(0-.+,)"# +,-"$").8./0# '()="+"# %"# $).7"8./0# +,# %"# %.6,)&"+# "# 50"# (# *Y-#

$,)-(0"-?#85"%]5.,)"#]5,#'5,),#-5#'()*"?#8(*,&.+"#$()#"4,0&,-#+,%#9-&"+(#(#$()#

$,)-(0"-# (# 4)5$(-# +,# $,)-(0"-# ]5,# "8&X,0# 8(0# %"# "5&().="8./0?# ,%# "$(C(# (# %"#

"]5.,-8,08."# +,%# 9-&"+(?# -,45.+"# +,# %"# '"%&"# +,# .0'()*"8./0# (# +,# %"# 0,4"&.7"# "#

),8(0(8,)# +.8A"# $).7"8./0# +,# %.6,)&"+# (# +,# .0'()*")# -(6),# ,%# $")"+,)(# +,# %"#

$,)-(0"?#8(0#%(#85"%#-,#.*$.+,#,%#,D,)8.8.(#+,#%(-#),85)-(-#%,4"%,-#C#+,#%"-#4")"0&W"-#

$)(8,-"%,-# $,)&.0,0&,-!" XiaJ(/." j%F" +%" 6." Q&J./(G.3(E/" +%" 6')" %)-.+')"Y*%&(3./')"XQ,YCK"3'/)H6-.+."%6"<"+%"/'L(%*F&%"+%"=88?C"

"

D." R%36.&.3(E/" )'F&%" 6." i&'-%33(E/" +%" $'+.)" 6.)" i%&)'/.)" 3'/-&." 6.)" I,-"$").8.(0,-#

U()="+"-K".+':-.+.":'&"6."Y).*F6%."Z%/%&.6"+%"6."Q&J./(G.3(E/"+%"6.)"O.3('/%)"S/(+.)"%/"

#<<=K"+%)3&(F%"6.)"+,-"$").8.(0,-"+%"*./%&.")%*%b./-%4""

"

]5,#-,#")),-&,?#+,&,04"#(#&)"-%"+,#8(0&)"#-5#7(%50&"+#"#%"-#$,)-(0"-?#(#]5,#;-&"-#

),-5%&,0#$).7"+"-#+,#-5#%.6,)&"+#+,#"%450"#'()*"#$()#"4,0&,-#456,)0"*,0&"%,-#+,#

85"%]5.,)#-,8&()#(#0.7,%?#$()#4)5$(-#()4"0.="+(-#(#$()#$")&.85%"),-#]5,#"8&X"0#,0#

0(*6),# +,%# 4(6.,)0(# (# 8(0# -5# "$(C(# +.),8&(# (# .0+.),8&(?# -5# "5&().="8./0# (# -5#

"-,0&.*.,0&(?# C# ]5,# %5,4(# -,# 0.,4"0# "# ),7,%")# %"# -5,)&,# (# ,%# $")"+,)(# +,# ,-"-#

$,)-(0"-#(#"#),8(0(8,)#]5,#,-&Y0#$).7"+"-#+,#%"#%.6,)&"+?#-5-&)"C;0+(%"-#"-W#"#%"#

$)(&,88./0#+,#%"#%,C2"XiaJ(/."j%F"+%"Y*/()-W."N/-%&/.3('/.6K"3'/)H6-.+."%6"<"+%"/'L(%*F&%"+%"=887C"

39

"

V%"-&.-.K"%/"-1&*(/')"J%/%&.6%)K"+%"H/."%)-&.-%J(.")()-%*a-(3."+%"&%:&%)(E/")%6%3-(L."3'/"

(*:.3-'" *H3I'" *a)" J6'F.64" /'" )E6'" )%" FH)3." .5%3-.&" ." 6." :%&)'/." )%3H%)-&.+." ["

+%).:.&%3(+.K" )(/'" -&.)-'3.&" -'+.)" 6.)" %)5%&.)" +%" 6." :'F6.3(E/" [" 3&%.&" H/." :'6W-(3." +%6"

*(%+'K" )%*F&.&" -%&&'&" %/" 6." :'F6.3(E/!" D." (/3%&-(+H*F&%" %)" H/'" +%" 6')" %6%*%/-')"*a)"

:'+%&')')"["%5%3-(L')":.&."(*:.3-.&"["J%/%&.&"*(%+'"%/"%6")%&"IH*./'!"^D."-a3-(3."*(6(-.&"

+%" I.3%&" +%).:.&%3%&" ." 6')" ':')(-'&%)" %)" H/" *1-'+'" &%:&%)(L'" ]H%" )%" F.)."

5H/+.*%/-.6*%/-%" %/" 6." :&'+H33(E/" +%" +,-8(0(8.*.,0&(!" i'&" %)'K" ).F%&" ]H%" :.)EK"

&%3H:%&.&"6."*%*'&(."["%2(J(&"6."L%&+.+K")%"L'6L(%&'/"&%36.*')":&(/3(:.6%)"+%"6.)"LW3-(*.)"["

+%"6.)"'&J./(G.3('/%)"+%"+%&%3I')"IH*./')!_"Xh.G('K"=8#8C"

" "Y*/()-W." N/-%&/.3('/.6" I.F6." +%" 6.)" *'-(L.3('/%)" +%" 6.)" :'6W-(3.)" ^I(-6%&(./.)_" 9

/.G()9" " :.&." 3&%.&" %6" +%3&%-'" ^O'3I%" [" /(%F6._=7K" H/'" +%" 6')" ./-%3%+%/-%)" +%" 6."

+%).:.&(3(E/# :'6W-(3.4" 6." ^(/-(*(+.3(E/" %5%3-(L._" )%" 6'J&.K" [." )%." :'&" 6." :%/." 3.:(-.6K" H"

'3H6-./+'"%6"+%)-(/'"+%"6.)"LW3-(*.)".")H)"5.*(6(.&%)"Xz.F3'3pK"#<;#C!"" "

" T.&6')"h.G('K"%/"H/.":'/%/3(."66%L.+."."3.F'"%/"%6"*.&3'"+%"6."^(/.HJH&.3(E/_"+%"6.""

T.*:.`." O.3('/.6" T'/-&." 6." R%).:.&(3(E/" h'&G.+." [" 6." :&%)%/-.3(E/" +%6" *./H.6" sQ5;#

A"8,)#,0#8"-(#+,#+,-"$").8./0#'()="+"t"X@8"+%".J')-'"+%6"=8#8CK"I.F6."+%"6')"./-%3%+%/-%)"

+%"%)-%"*1-'+'"&%:&%)(L'4"

"^P%*(-%K"(/L.&(.F6%*%/-%K"."6.":&a3-(3."(/-&'+H3(+.":'&"%6",b1&3(-'"+%"'3H:.3(E/"5&./31)"%/"

Y&J%6(.K" H-(6(G.+." +%):H1)" :'&" ,)-.+')"S/(+')" %/" y(%-/.*"+H&./-%" 6."Q:%&.3(E/" h1/(2" ["

%2:'&-.+." 6H%J'"."Y*1&(3." D.-(/.":'&" %6" i%/-aJ'/'" [" 6."YJ%/3(."T%/-&.6" +%" N/-%6(J%/3(."

XTNYCK"."-&.L1)"+%"6.",)3H%6."+%"6.)"Y*1&(3.)!_"Xh.G('K"=8#8C"

"

ZH.-%*.6." 5H%" %6" :.W)" 6.-(/'.*%&(3./'" ]H%" )H5&(E" 6." :&(*%&." +%).:.&(3(E/" 5'&G.+.4" %/""

#<7BK"+H&./-%"%6":%&('+'"+%6"3'&'/%6",/&(]H%"i%&.6G."YGH&+(.K".J%/-%)"+%6",)-.+'"["J&H:')"

:.&.*(6(-.&%)"X^%)3H.+&'/%)"+%"6."*H%&-%_C")%3H%)-&.&'/"."=;"6W+%&%)")(/+(3.6%)"[":'6W-(3')"

[" :')-%&('&*%/-%" 6')" 6./G.&'/" .6" *.&" +%)+%" .L('/%)" +%" 6." *(6(3(.!" XY" ZH.-%*.6." )%" 6%" =7" i'&"*%+('" +%" +%3&%-'K" 6')" %/%*(J')" +%6" P%(3I"Y6%*a/"%&./" )%/-%/3(.+')" ." H/."/'3I%" [" ." H/" )(6%/3('"

(/-%&*(/.F6%)"X3.)-(J'"*.['&"]H%"%6"I%3I'"+%")%&"%b%3H-.+')Cd")%"%L'3.F."3'/"%)-%"/'*F&%K"6."(*.J%/"+%"H/"I'*F&%"]H%")%":(%&+%"%/"6."/'3I%"["6."/%F6(/.K":.&."/'")%&"L()-'"/H/3."*a)!"

40

3'/)(+%&." H/'" +%" 6')" 6.F'&.-'&(')" 6.-(/'.*%&(3./')" +%" -a3-(3.)" *(6(-.&%)" +%" &%:&%)(E/C!"

i')-%&('&*%/-%"%6"-1&*(/'")%"H-(6(GE"%/"TI(6%K"%/"%6".`'"+%"#<?BK"+H&./-%"6."+(3-.+H&."+%"

i(/'3I%-d"%/"#<?7")%"(*:6%*%/-E"%/"Y&J%/-(/.K"3'/"y(+%6.!"Xh.G('K"=8#8C"" "

" ,/":.6.F&.)"+%""h(JH%&'."NF.&&.K"H/'"+%"6')"'Fb%-(L')"+%"%)-.":&a3-(3.K".+%*a)"+%6"

I%3I'" +%" &%3.F.&" (/5'&*.3(E/" X." -&.L1)" +%" 6." -'&-H&." ]H%" 6." +%).:.&(3(E/" 3.)(" :'&"

+%5(/(3(E/"(*:6(3.C"["+%"3.:-H&.&"6W+%&%)"["J%/-%"36.L%"+%"6')"*'L(*(%/-')")HFL%&)(L')K"%)"

^)%*F&.&"%6"-%&&'&"%/"%6")%/'"+%"6.":'F6.3(E/"["'F-%/%&"+%"%)."*./%&.K"6."./(]H(6.3(E/"%/"

%66."+%"H/."L'6H/-.+"+%"-&./)5'&*.3(E/!",6"'Fb%-(L'"5H/+.*%/-.6"+%6"-%&&'&()*'"+%",)-.+'K"

5H%&."."-&.L1)"+%"6."%b%3H3(E/"%2-&.bH+(3(.6"'" 6."+%).:.&(3(E/"5'&G.+.K"5H%"%6"3'/)%JH(&"H/"

8(0-,0-(# $"-.7(#%/" L()-." +%" 6." (*:')(F(6(+.+" +%" 'F-%/%&" H/" 8(0-,0-(# "8&.7(_!# Xh(JH%&'."

NF.&&.K" %/" h(JH%&'." NF.&&.K" #<<<4" @BC" Y+%*a)K" %6" .&JH*%/-'" ^/'" I.[" 3H%&:'K" /'" I.["

3&(*%/_""I.F6.":'&")W"*()*'!",/":.6.F&.)"+%"T.&6')"h.G('4"^D."&.GE/":'&"6."]H%"H/",)-.+'""

-'-.6(-.&('"&%3H&&%"."%)-%"*1-'+'")%"+%F%".")H"%5%3-'"+%")H:&%)(E/"+%"-'+'"+%&%3I'4".6"/'"

%2()-(&" 3H%&:'" +%6" +%6(-'" )%" J.&./-(G." 6." (*:H/(+.+!" ,6" +%)3'/'3(*(%/-'" (*:(+%" ." 6')"

5.*(6(.&%)" [" 6." )'3(%+.+" &%.6(G.&" .33('/%)" 6%J.6%)d" (/5H/+%" -%&&'&" %/" 6.)" LW3-(*.)" [" %/" 6."

)'3(%+.+K"["*./-(%/%")%:.&.+')"."6')"3(H+.+./')"%/")H".33('/.&"5&%/-%".6",)-.+'!_"Xh.G('K"

=8#8C""

" 0a)".66a"+%"6."'F-%/3(E/"+%"(/5'&*.3(E/".":.&-(&"+%"6."-'&-H&.K"H/'"+%"6')"'Fb%-(L')"

+%" %)-." :&a3-(3." %)K" +(3I'" %/" :.6.F&.)" +%" T.&6')" h(JH%&'." NF.&&." X]H%" I.F6." +%" 6.)"

+%).:.&(3('/%)" %/" %6" 3'/-%2-'" JH.-%*.6-%3'CK" ^%L(-.&" +%):&%)-(J('" (/-%&/.3('/.6" ["

3'/LH6)(E/"(/-%&/.":&'L'3.+')":'&"6."%2()-%/3(."+%":&%)')":'6W-(3')K"%L(-.&"+%):&%)-(J('".6"

.H*%/-.&"6.)"3(5&.)"+%36.&.+.)"+%"*H%&-')":'&"&.G'/%)":'6W-(3.)_!"Xh(JH%&'."NF.&&.K"#<<<4"

@BC" Q-&."*./%&." +%" +%3(&" 6'"*()*'4" )%" %6(*(/." .6" ':'/%/-%" )(/" 3')-')" :'6W-(3')!" T'*'"

%b%*:6'" +%" %)-'" L.6%" 6." :%/." 3(-.&" %6" 5&.J*%/-'" +%" H/." %/-&%L()-." ." " RW.G" z%))'/%" ]H%"

T.&6')"h.G('"&%-'*."%/"H/."+%")H)":'/%/3(.)")'F&%"%6"-%*."+%"6.)"+%).:.&(3('/%)4"

"^suH1"]H%&W.*')"]H%"I(3(1&.*')t""sS)-%+"3&%%"]H%")%":H%+%/"5H)(6.&"."?K888":%&)'/.)t"V("

IHF(1)%*')" 5H)(6.+'" -&%)K"%6"i.:."/')"I.F&W." 3.W+'"%/3(*."3'*'" 6'"I(G'" 3'/"h&./3'!" o,6"

*H/+'"%/-%&'"/')"I.F&W."3.W+'"%/3(*.q"suH1":'+&W.*')"I.3%&t"s0%-%&6')"%/"6."3a&3%6t"|"

41

+%):H1)"+%"]H%"66%J.&."%6"J'F(%&/'"3'/)-(-H3('/.6K")%&W./"6(F%&.+')"["&%3'*%/G.&W./>_"X%/"

h.G('K"=8#8C"

"

D."*(&.+."(/-%&/.3('/.6"%)K":H%)K"H/"5.3-'&"36.L%!",)-'"%)":.&-(3H6.&*%/-%":%&-(/%/-%"%/"%6"

3'/-%2-'"+%"012(3'K"3H['"J'F(%&/'")%"I."3.&.3-%&(G.+'":'&"H/"+'F6%"+()3H&)'4"+()3H&)')"

+%"+%*'3&.3(."I.3(."%6"%2-%&('&K":'&"H/" 6.+'d"3'/+(3('/%)"+%":'F&%G."%2-&%*.K"JH%&&(66.)"

(/-%&/.)" .3.66.+.)K" &%:&%)(E/K" (*:H/(+.+K" 3&W*%/%)" +%" 6%)." IH*./(+.+K" -'+'" -(:'" +%"

L('6.3('/%)"."6')"+%&%3I')"IH*./')K":'&"'-&'!"T.F%".]HW"&%-'*.&"/H%L.*%/-%"6.)":.6.F&.)"

+%"0'/-%*.['&4""

,0#$"W-,-#]5,#$(+)W"*(-#8(0-.+,)")#8(*(#-(8.,+"+,-#+,#0()*"%.+"+#+,*(8)Y&.8"# B2223?# -5)4,#50"#

,-&)"&,4."# +,# 45,))"# $")"# ,0'),0&")# ('.8."%*,0&,# +.-&.0&(-# *(*,0&(-# C# *(+"%.+"+,-# +,# %"#

.08(0'()*.+"+#-(8."%2#L(0#,%# '.0#+,#0(#]5,+")#-5D,&(-#"#50#()+,0# %,4"%# .0&,)0"8.(0"%?#8(*(#,%#+,%#

V)(&(8(%(# jj# "+.8.(0"%# "# %(-# 8(07,0.(-# +,# d.0,6)"?# ]5,# ),45%"# 8(0'%.8&(-# ")*"+(-# +,# 8")Y8&,)#

.0&,)0(?# %(-# -58,-.7(-# 4(6.,)0(-# *,<.8"0(-# A"0# -56-5*.+(# "# %"# 45,)).%%"# 8(*(# +,%.085,08."?# 0(#

8(*(#45,)"#8(07,08.(0"%2"X0'/-%*.['&K"=8#84"=B?C"""T'*'"%b%*:6'"+%6"(/-%&1)"+%").6L.JH.&+.&"3(%&-."(*.J%/"I.3(."%6"%2-%&('&K":'+%*')"-'*.&"

%6"+%"6.":&%'3H:.3(E/"+%"RW.G"Q&+.G":'&"*')-&.&"."6."3'*H/(+.+"(/-%&/.3('/.6"%6"&')-&'"+%6"

^*(6.J&'"*%2(3./'_"+H&./-%" 6')"xNx"nH%J')"Q6W*:(3')"]H%")%" 66%L.&W./"."3.F'"%/"/H%)-&'"

:.W)" %/" %6" 7;" [K" *a)" .+%6./-%K" %6" +%" 6." 3'/5%&%/3(." +%" :&%/)." +%" #<?<" +%6" %/-'/3%)"

:&'3H&.+'&"U)3.&" h6'&%)" Va/3I%G" " X+H&./-%"%6" )%2%/('"+%" DE:%G"i'&-(66'CK" %/" 6."]H%K" -&.)"

+%/H/3(.)" +%" '&J./(G.3('/%)" +%" 5.*(6(.&%)K" :&%)%/-." H/" (/5'&*%" +%)6(/+a/+')%" +%" ["

+%)3.6(5(3./+'"9+%"5'&*.".F)H&+.9"6."6()-."+%"3.)')"+%"+%).:.&%3(+')":'6W-(3')4""

"

!"# .*"4,0#+,*(8)Y&.8"#]5,#,%# 4(6.,)0(#*,<.8"0(# -,#A"6W"# '()D"+(#A.-&/).8"*,0&,#,0#,%# ,<&,).()#

,-&"6"#-.,0+(#7"$5%,"+"2#:;<.8(#,-&Y#,0#%(-#(D(-#+,%#*50+(#&)"-#%"#.*0.0,0&,#7.-.&"#+,%#V"$"#a5"0#

V"6%(# jj#C?#+W"-#+,-$5;-?# %"#+,%#$),-.+,0&,#a"*,-#L")&,)2#G),.0&"#C#-,.-#A()"-#"0&,-#+,# %"#7.-.&"#+,%#

-5*(# $(0&W'.8,?# ,%# E`# +,# ,0,)(?# ,%# $)(85)"+()# s-8")# U%(),-# bY08A,=# 8(07(8"# "# 50# 8,0&,0")# +,#

$,).(+.-&"-# 0"8.(0"%,-# C# ,<&)"0D,)(-# $")"# ,%.*.0")?# +,# 50"# 7,=# $()# &(+"-?# 85"%]5.,)# -(*6)"# ]5,#

*"08.%%,#%"#A(0)"#+,%#4(6.,)0(#*,<.8"0(2#XT.)-%66./')K"=88?4"=<79=<?C""D." +%).:.&(3(E/" 5'&G.+.# +%" :%&)'/.)" )%" I." 3'/L%&-(+'" %/" H/" 5%/E*%/'" )'3(.6" :'&" )H)"

+(*%/)('/%)"X[")%"I.")(J/(5(3.+'"["&%)(J/(5(3.+'"3'*'"-.6C"[":'&")H)"%5%3-')"3.&.3-%&W)-(3')"

%/" *H3I')" :.W)%)" +%" Y*1&(3." D.-(/.d" '&J./()*')" /'" JHF%&/.*%/-.6%)" +%" +%&%3I')"

IH*./')"I.F6./"+%"H/."3(5&."+%"#78"888"+%).:.&%3(+')!"XVa%/GK"%/"0.(%&"=88#C!"$./")E6'"

42

%/"Y&J%/-(/.")%"I.F6."+%"H/."3(5&."+%"@8"888" XT.6L%(&'K"=88#C!",6" -1&*(/'"*()*'"9H).+'"

:'&":&(*%&."L%G":'&"6.)"hH%&G.)"Y&*.+.)=?9"&%*(-%"."H/."L('6%/3(."+%"3.&a3-%&":'6W-(3'!",6"

'Fb%-(L'" %/" :.W)%)" 3'*'" TI(6%K" ZH.-%*.6." [" Y&J%/-(/." 5H%" %6" :&%)%&L.&" H/" ^&1J(*%/"

:'6W-(3'" +%" 3.&a3-%&" +(3-.-'&(.6" [" H/" &1J(*%/" )'3(.6" +%" 3.&a3-%&" %236H[%/-%!" D'" *()*'"

:'+%*')" +%3(&" %/" .]H%66')" 3.)')" %/" 6')" 3H.6%)" 6." +%).:.&(3(E/" 5'&G.+." /'" -HL'"

+(*%/)('/%)"3H./-(-.-(L.)"-./"J&./+%)K"3'*'"%)"%6"3.)'"+%",6"z&.)(6"["m'/+H&.)!_"Xh(JH%&'."

NF.&&.K"#<<<4"@@C!"$.6"%)"-.*F(1/"%6"3.)'"+%"012(3'd"6.)"3(5&.)":H%+%/"/'")%&"-./"J&./+%)"9

3'*:.&.-(L.*%/-%"I.F6./+'9"["/'"I."%2()-(+'"H/."+(3-.+H&."3'*'"-.6K":%&'"(JH.6*%/-%")%"

J'F(%&/."+%)+%"H/"&1J(*%/".H-'&(-.&('K"+()5&.G.+'"+%"+%*'3&.3(.K"3'/"H/"+()3H&)'"]H(Ga"

.c/" *a)" %)]H(G'5&1/(3'" ]H%" %/" 6.)" +(3-.+H&.)4" )%" -&.-." +%" H/" :.W)" +%" /'&*.6(+.+"

+%*'3&a-(3.K" ]H%"/'" L(L(E"H/":&'3%)'"+%"%23%:3(E/" 3'*'"H/."+(3-.+H&.K" ]H%" )%"%):%&."

]H%" .3-c%" 3'/5'&*%" ." +%&%3I'" [" ." )H)" 6%[%)" [" ]H%K" /'" 'F)-./-%K" .3-c.K" +%)+%" )H)"

(/)-./3(.)"JHF%&/.*%/-.6%)K"5H%&."+%"6."6%["X'".3'*'+./+'".&F(-&.&(.*%/-%"6.)"6%[%)".")H"

./-'b'" [" F%/%5(3('C!" ,6" .:.&.-'" %)-.-.6" 3'&&H:-'K" (/5&./]H%.F6%K" %6" .FH)'" +%" :'+%&" :'&"

(/-%&%)%)" :.&-(3H6.&%)K" 6." (/+()'6HF(6(+.+" %/-&%" .H-'&(+.+K" .FH)'" [" 3'&&H:3(E/K" %6" 3'/-&'6"

*%+(a-(3'K"6."3'*:6(3(+.+"%/-&%")()-%*.)".+*(/()-&.-(L')K"bH+(3(.6%)K"*(6(-.&%)"X.-&.L%).+."

:'&" %6" %b%" +%6" (/-%&1)" [" :&(L(6%J('" :%&)'/.6CK" )'/" ]H(Ga" 6.)" " :&(/3(:.6%)" &.G'/%)" :.&."

3'/)%&L.&" (*:H/%)K" L(J%/-%)" [K" .6" *()*'" -(%*:'" ^*(/(*(G.+')_" X./-%" J&./" :.&-%" +%6"

:cF6(3'"/.3('/.6"%"(/-%&/.3('/.6C"%)-')"3&W*%/%)"+%",)-.+'!!!"3'*'")("/'":.).&."/.+.!""

"V(+,*(-# A"6%")# +,# 7.(%,08."# +,# 9-&"+(# ,0# *(7.*.,0&(-# +,# .08(0'()*.+"+# -(8."%# 85"0+(# %"#

$)(85)"8./0#C# %"# .*$")&.8./0#+,# D5-&.8."?#C#"50# %"# %,4.-%"8./0?#8(085)),0#8(0# %"# ),$),-./0#$(%.8."%#(#

*.%.&")# +,-+,# ,%# ")),-&(# +,# %W+,),-# C# ),$),-./0# .0+.-8).*.0"+"# A"-&"# *"-"8),-# C# +,-"$").8.(0,-#

'()="+"-2# G"%# 7.(%,08."# $5,+,# +,-8).6.)-,# 7W"# %"-# "88.(0,-# ,-$,8W'.8"-# C# $)($."-# +,# 85,)$(-#

$(%.8."8(-?#8(0&.04,0&,-#*.%.&"),-?#*"0.$5%"8.(0,-#$)(8,-"%,-?#-,0&,08."-#+,#D5,8,-#-.0#'50+"*,0&(#

%,4"%# -5'.8.,0&,?# (# ,%# 8).*,0# +,# 9-&"+(# ]5,# 8")"8&,).="# +,# *"0,)"# 8,0&)"%# ,-&"# 7.(%,08."># %"-#

+,-"$").8.(0,-#'()="+"-#+,#$,)-(0"-2"X0'/-%*.['&K"=8#84"#;@C""

$&.-a/+')%"+%"H/"3&(*%/"+%"6%)."IH*./(+.+"(*:&%)3&(:-(F6%K"*(%/-&.)"%6"+,-"$"),8.+(#/'"

"$"),=8"K" %)-." .F)'6H-." -&.)J&%)(E/" ." 6')" +%&%3I')" IH*./')" )%" )(JH%" 3'*%-(%/+'"

+(.&(.*%/-%!"

=?" hH%&G.)"Y&*.+.)"+%"6."P%:cF6(3."Y&J%/-(/."/'"I.3%"&%5%&%/3(."%236H)(L."." 6.)".&J%/-(/.)K".)W")%"%)3&(F%"

%/"%6"3'/'")H&"

43

"

G;80.8"*,0&,?#,%#+,%.&(#,-#+,#,<&),*"#4)"7,+"+#$()#,%#8X*5%(#+,#+,),8A(-#]5,#75%0,)"#C#"4),+,2#

9-# $,)$,&)"+(# $()# "4,0&,-# +,%# 9-&"+(# (# $()# .0+.7.+5(-# ]5,# &.,0,0# %"# "]5.,-8,08."# +,# ;-&,2# !"#

7W8&.*"# ,-# +,&,0.+"# -.0# ]5,# -,# 85*$%"0# %"-# '()*"%.+"+,-# %,4"%,-># 0(# ,<.-&,# ()+,0# +,# "5&().+"+#

8(*$,&,0&,?#0(#-,#,-$,8.'.8"#+,#]5;#-,#%,#"85-"?#0(#-,#*,08.(0"#]5.;0#%(#"85-"?#0.#%(-#,%,*,0&(-#

.085%$"&().(-#]5,#,<.-&,0#,0#-5#8(0&)"2#I,-$5;-#+,#%"#+,&,08./0?#%"#7W8&.*"#,-#$5,-&"#,0#-.&5"8./0#

+,# .0+,',0-./0# &(&"%?#$5,-#,-# 8(0+58.+"#"#50# -.&.(#]5,#0(#,-#+,# ),8%5-./0#('.8."%2# !"-#"5&().+"+,-#

]5,# ,-&Y0# (6%.4"+"-# "# .0'()*")# "# %"# -(8.,+"+# "8,)8"# +,# %"# +,&,08./0?# %"# 0.,4"0# +,# '()*"#

-.-&,*Y&.8"2X0'/-%*.['&K"=8#84"=B=C""V%"-&.-."+%"H/"%/-&.*.+'"+%"+%&%3I')"L('6.+')4"%6"+%&%3I'"^." 6.")%JH&(+.+" bH&W+(3.K"." 6."

6(F%&-.+" %" (/-%J&(+.+" :%&)'/.6" [" ." 6." .+%3H.+." +%5%/).K" ." 6." )%JH&(+.+" :%&)'/.6K" ." 6."

(JH.6+.+" ./-%" 6." 6%[K" ." 6." bH)-(3(.K" ." 6." 3(&3H6.3(E/" [" &%)(+%/3(.K" ." 6." :&'-%33(E/" 3'/-&." 6."

+%-%/3(E/".&F(-&.&(.K".6"&%):%-'"."6."+(J/(+.+"(/I%&%/-%".6")%&"IH*./'K"[".6"+%F(+'":&'3%)'"

+%"%).)":%&)'/.)_!"X0'/-%*.['&K"=8#84"=BB9=BAC"

" D.":&(*%&."+%).:.&(3(E/#5'&G.+."&%J()-&.+."%/"012(3'"+.-."+%"#<7<d"%)".":.&-(&"+%"

#<?@"]H%"%)-.":&a3-(3.")%"%2-(%/+%"[")%"(*:6%*%/-."3'*'"5'&*.")()-%*a-(3."+%"&%:&%)(E/"

." &.WG" +%6" )%3H%)-&'" +%" PHF1/" h(JH%&'." %/" ZH%&&%&'" [" +%" 6')" .)%)(/.-')" +%" h%&/./+'"

Y&./JH&%/" [" ,HJ%/('" Z.&G." V.+." %/" ZH.+.6.b.&." [" 0'/-%&&%[!" ,/" %6" )%2%/('" +%" DH()"

,3I%L%&&W.K" 6."+%).:.&(3(E/#5'&G.+."5H%"H).+.":&(/3(:.6*%/-%":.&."3'*F.-(&"." 6."JH%&&(66."

%/" ZH%&&%&'K" :%&'" %/" %6" +%" n')1" DE:%G" i'&-(66'K" )%" 66%LE" ." 3.F'" H/." 3.*:.`." +%"

+%).:.&(3(E/"+%":%&)'/.)"*a)"+(&(J(+."."6.)"3(H+.+%)!"D')".&3I(L')"+%"6."RhV"+%:')(-.+')"

%/" %6" T%/-&'" +%" N/L%)-(J.3(E/" [" V%JH&(+.+" O.3('/.6" XT()%/CK" &%(-%&." YJH.['K" )'/" :&H%F."

+'3H*%/-.6"+%"6."&%):'/).F(6(+.+"'5(3(.6"]H%"I.")(+'"/%J.+.!",6".H-'&"*%/3('/."-.*F(1/"

3E*'"6."RhVK"F.b'"E&+%/%)"+%"0(JH%6"O.G.&"m.&'K"+()-'&)('/E" 6." (/5'&*.3(E/":.&."3%&&.&"

6')"3.)')K"I.3(%/+'"%/"6.)"5(3I.)"3H.-&'"-(:')"+%".bH)-%":.&."*./(:H6.&"6."(/5'&*.3(E/!"Y)WK"

6')" 3.)')" 3(%&&./" 3'/" 3H.-&'" -%/+%/3(.)4" *H%&-'" %/" %/5&%/-.*(%/-'K" I%&(+'" %/"

%/5&%/-.*(%/-'"["*H%&-'":'&"5.6-."+%".-%/3(E/"*1+(3.K")(JH%":&E5HJ'"["^H/")%3H%)-&'"*H["

:.&-(3H6.&_!" T'/" F.)%" %/" %)-'K" +(3%" YJH.['K" :H%+%" .5(&*.&)%" ]H%" IHF'" H/." :'6W-(3."

%6.F'&.+." :.&." +%).:.&%3%&" :%&)'/.)" [" *./(:H6.&" 6." (/5'&*.3(E/" &%5%&%/-%" ." 1)-.)!"

XYJH.['K"=88=C""

RH&./-%" %6" )%2%/('" +%" ,3I%L%&&W.K" 3'*'" [." )%" +(b'K" 6." +%).:.&(3(E/" )%" :&.3-(3E"

:&(/3(:.6*%/-%" %/" 3'/-&." +%" 6." JH%&&(66." &H&.6" %/" %6" %)-.+'" +%" ZH%&&%&'K" :%&'" 6."

44

&%):'/).F(6(+.+" 3.W." %/" *./')" +%6" %b1&3(-'!" ,6" -&.-'" ." 6." JH%&&(66." %&." +%" &%:&%)(E/"

)%6%3-(L.!"T'/"n.L(%&"Z.&3W."i./(.JH.K"6."RhV"["6."z&(J.+."z6./3.".+':-.&'/"H/.":'6W-(3."+%"

./(]H(6.*(%/-'" +%" 6." JH%&&(66." H&F./.K" 6'" 3H.6" %2:6(3." %6" .H*%/-'" +%" +%).:.&(3('/%)#

5'&G.+.)"%/"6.)"3(H+.+%)!"XYJH.['K"=88=C"

,)-." :'6W-(3." 5H%" 66%L.+." +%" *./%&." 3''&+(/.+." %/-&%" 6.)" 5H%&G.)" :'6(3W.3.)" ["

*(6(-.&%)"+%6":.W)!"XV%&&.K"=887C"

"" D.)"3(5&.)"+%"+%).:.&%3(+')":'6W-(3')"%/"012(3'")'/"+(5W3(6%)"+%"3'&&'F'&.&K"[."]H%"

J&./":.&-%"+%" 6')" 3.)')"/'"I./" )(+'"+%/H/3(.+')"/("+'3H*%/-.+')!" D." &%:&%)(E/" 5H%" -.6"

]H%"(/I(F(E"*H3I.)"+%/H/3(.)K":'&"-%*'&"."*a)"&%:&%)(E/!"XVa%/GK"=88#C"V%Jc/"3(5&.)"+%6"

T'*(-1"o,H&%p.qK"-./")E6'"%/"%6"%)-.+'"+%"ZH%&&%&'"I.["*a)"+%"-&%)3(%/-')"+%).:.&%3(+')"

XiaJ(/."j%F" +%6" T'*(-1" o,H&%p.qK" 3'/)H6-.+." %6" ;" +%" /'L(%*F&%" +%" =88?Cd" &%J()-&.+')"

-(%/%"%)-%"3'*(-1"A7B!",/"6')".&3I(L')"+%"6."TORm"%)-a"&%J()-&.+."6."(/L%)-(J.3(E/"^]H%")%"

&%.6(GE" %/" A@=" %2:%+(%/-%)" +%" ]H%b.K" +%&(L.+')" +%" 6.)" +%/H/3(.)" ]H%" 5'&*H6.&'/" 6')"

5.*(6(.&%)" [" +()-(/-.)" '&J./(G.3('/%)" /'" JHF%&/.*%/-.6%)" )'F&%" (JH.6" /c*%&'" +%"

.J&.L(.+')!_" X0'/-%*.['&K" =8#84" =BB9=BAC!" ^D." Y)'3(.3(E/" +%" h.*(6(.&%)" +%" R%-%/(+')K"

R%).:.&%3(+')"["yW3-(*.)"+%"y('6.3('/%)"." 6')"R%&%3I')"mH*./')"%/"012(3'" XYhYR,0CK"

%)-(*."]H%"#Ç=88":%&)'/.)" 5H%&'/"+%).:.&%3(+.)"%/"012(3'"%/"%6":%&('+'"+%" 6." 66.*.+."

^ZH%&&." VH3(._!" R%" %66')K" 3%&3." +%" 788" )'/" JH%&&%&%/)%)" [" *a)" +%" B88" +%" %)-.)"

+%).:.&(3('/%)"5'&G.+.)")%"&%J()-&.&'/"%/"Y-'[.3"+%"r6L.&%G!_"XY/-(66E/9T0RiRmK"=88;C!"

" R%F%"-%/%&)%"%/"3H%/-."]H%K"-&.-a/+')%"%/")H"*.['&W."+%"5.*(6(.)"3.*:%)(/.)"3'/"

:'3')"&%3H&)')"*.-%&(.6%)"X%3'/E*(3')C"["6%J.6%)K"3'/":'3')"3'/-.3-')K"+%)(/5'&*.3(E/"%/"

3H./-'" ." +%&%3I')" [K" )'F&%" -'+'K" 3'/" H/." %/'&*%" +%)3'/5(./G." I.3(." 6.)" (/)-./3(.)"

JHF%&/.*%/-.6%)K"%)":')(F6%"]H%"/'"I.[./"+.+'"%6"-%)-(*'/('"+%"6."+%).:.&(3(E/d"6.)"3(5&.)"

+%" +%).:.&%3(+')" %/" %6" :%&('+'" +%" -(%*:'" &%5%&(+'" )'/K" )(/" +H+.K" *.['&%)!" D.)" 3(5&.)"

.3-H.6%)" )%" I./" +():.&.+'" )(J/(5(3.-(L.*%/-%!" $./" )E6'" 6'" ]H%" L." +%6" )%2%/('" +%" h%6(:%"

T.6+%&E/" )%" I./" &%J()-&.+'" *a)" +%" @K888" 3.)')" +%" ^6%L./-'/%)_" '" +%).:.&(3('/%)"

5'&G.+.)!=;""

=;" D.)" 3.-%J'&W.)" ^6%L./-'/%)_" [" ^+%).:.&(3('/%)" 5'&G.+.)_" )%" 3&HG./"[" )%" 3'/5H/+%/!" D')" 6%L./-'/%)" )'/"

.)'3(.+')" ." 3H%)-('/%)" &%6.3('/.+.)" 3'/" %6" /.&3'-&a5(3'!" V(/" %*F.&J'K" .*F')" 3.)')" 3'/3(%&/%/" .6"J'F(%&/'d" :.&-(3(:." %6" %b1&3(-'" [" )'/" &%):'/).F(6(+.+" +%6" ,)-.+'!" ^nH/-'" 3'/" 6." (*:H/(+.+K" 6.)"

45

"

,6",)-.+'"%/3.&3%6." (6%J.6*%/-%K"-'&-H&.K".)%)(/.K":%&'"/'"I.F6."+%":&%)')":'6W-(3')K")(/'"

+%"+%6(/3H%/-%)K"-&./)J&%)'&%)"+%"6."6%[d"/'"I.F6."+%"-'&-H&.d"/'"I.F6."+%".)%)(/.+')K")(/'"

+%"^*H%&-')"%/"%/5&%/-.*(%/-')_"[K"I'["%/"+W.K"+%"^6%L./-.+')_d"/'"I.F6."+%"3(H+.+./')K"

)(/'" +%" 3&(*(/.6%)" '" /.&3'-&.5(3./-%)d" .)WK" -.*F(1/K" +%).:.&%3%?#:%&'" %/" )H" +()3H&)'" /'"

%)-a/":&%)%/-%)"6')"+%).:.&%3(+')#:'6W-(3')2"O'"%/"012(3'!"O'":'+&W."I.F6.&)%K":H%)K"+%6"

+%).:.&%3(+'# :'6W-(3'" )(/" I.F6.&" :&(*%&'" +%" ]H(%/%)" 6%" +(%&'/" :&(*%&'" /'*F&%K" ["

%/-'/3%)K" H/" 6HJ.&" %/" 6." &%.6(+.+" )'3(.64" 6')" 5.*(6(.&%)!" i&(/3(:.6*%/-%" 6')" 3'*(-1)" +%"

5.*(6(.&%)"+%"+%).:.&%3(+')"]H%"%2()-%/"%/"%6":.W)!",/"&%):H%)-."."%)-."&%:&%)(E/K"."%)-."

(*:H/(+.+" [" )(6%/3('" :'&" :.&-%" +%6" ,)-.+'" %)" ]H%" 6')" 5.*(6(.&%)" %/" .6JH/')" 3.)')" )%"

'&J./(G./K" &%)(J/(5(3./" [" 6%" +./" H/" 6HJ.&" .6" +,-"$"),8.+(# $(%W&.8(2# VH&J%/K" .)WK" /H%L')"

J&H:')" )'3(.6%)" 3'/" /H%L')" )()-%*.)" +%" &%:&%)%/-.3('/%)K" :&a3-(3.)K" (+%/-(+.+%)" ["

%)-&.-%J(.)"+%".33(E/!" XT.-%6.K"=88#d"0.(%&K"=88#d"v'&+'/"[",+%6*./K"=88Ad"R%"y%33I("["

ZE*%GK"=88;C!"

#

!"#),-$5,-&"#"#%"#+,-"$").8./0#'()="+"#+,#$,)-(0"->#%(-#'"*.%."),-?#05,7(-#"8&(),-#-(8."%,-#

"

D." +13.+." +%" 6')" ?8" %/" D.-(/'.*1&(3." )%" 3.&.3-%&(GE" /'" )E6'" :'&" -'+'" H/" )()-%*." 9

3''&+(/.+'9"+%" &%:&%)(E/":'6W-(3." X+%"+(3-.+H&.)" ["+%" J'F(%&/')" .H-'&(-.&(')K"*(6(-.&%)"'"

3(L(6%)CK")(/'"-.*F(1/":'&"H/")(/5W/"+%"J&H:')")'3(.6%)"]H%")H&J(%&'/"[")%"L()(F(6(G.&'/"%/"6."

%)3%/.":cF6(3." X:'6W-(3.C"%/" &%):H%)-."." 6.)".-&'3%)"L('6.3('/%)"." 6')"+%&%3I')"IH*./')K"

%/-&%"%66.)K"6.)"-./-.)"+%).:.&(3('/%)"5'&G.+.)"+%":%&)'/.)!"V'F&%"-'+'")'/"5.*(6(.&%)K"%/"

)H" *.['&W." *Hb%&%)K" 6')" ]H%" ).6%/" ." 6.)" 3.66%)" [" )%" '&J./(G./" :.&." FH)3.&" [" %2(J(&" 6."

:&%)%/-.3(E/"+%")H)")%&%)"]H%&(+')!"i'&"*%/3('/.&")E6'".6JH/')"%b%*:6')K":'+%*')"+%3(&"

]H%""%/"#<?BK"H/".`'"+%):H1)"+%6"J'6:%"+%",)-.+'"%/"TI(6%"X3H./+'"%6".)%)(/.-'"+%6":&(*%&"

:&%)(+%/-%"+%" (G]H(%&+."%6%3-'CK"H/"J&H:'"+%"%2(6(.+')"3I(6%/')"%/"h&./3(." )%"H/%K"%/")H"

*.['&W."*Hb%&%)K":.&."+.&" 3'/"%6":.&.+%&'"+%" )H)" 5.*(6(.&%)K" [" 5'&*./" 6."Y)'3(.3(E/"+%"

+%).:.&(3('/%)" 5'&G.+.)" +%" :%&)'/.)" :%&)()-%/" %/" 012(3'K" :%&'" .I'&." +()5&.G.+.)" +%" %,7"0&(0,-")H:H%)-.*%/-%":%&:%-&.+')":'&"%6"/.&3'-&a5(3'K".+L(%&-%"P').&('"NF.&&."+%"i(%+&.K"+(&%3-'&."+%6"T'*(-1",H&%p.!_"XD."n'&/.+.K"R'*(/J'"#?"+%"*.['"+%"=88<C"

46

h.*(6(.&%)"+%"i&()('/%&')"R%).:.&%3(+')"+%"TI(6%d""%/"Y&J%/-(/.K"%/"#<??K".":&a3-(3.*%/-%"

H/".`'"+%"I.F%&)%" (*:H%)-'" 6."c6-(*."+(3-.+H&."*(6(-.&K" #B"*Hb%&%)K"*.+&%)" [" .*.)"+%"

3.).K")%"%/3H%/-&./"%/"6."i6.G."+%"0.['"FH)3./+'".")H)"I(b')K"%2(J(%/+'")H"&%3H:%&.3(E/"

8(0#7.+"K"[")'/K")(/").F%&6'"%/"%)%"%/-'/3%)K"%6"(/(3('"+%"6'"]H%"+%):H1)")%"3'/L%&-(&W."%/"

H/'"+%"6')"*'L(*(%/-')")'3(.6%)"*a)"%*F6%*a-(3')"%"(*:'&-./-%)"%/"6."I()-'&(.4"0.+&%)"

+%" i6.G." +%" 0.['=<d" %/" %)-%" *()*'" :.W)K" %2(6(.+')" H&HJH.[')" 5'&*.&W./" -.*F(1/" 6."

Y)'3(.3(E/"+%"h.*(6(.&%)"+%"S&HJH.[')"R%).:.&%3(+')"%/"Y&J%/-(/."\I.F(1/+')%"3&%.+'"6."

YhSR," XY)'3(.3(E/" +%" h.*(6(.&%)" +%" S&HJH.[')" R%).:.&%3(+')C" %/" ,H&':.d" -.*F(1/" %/"

#<??K"%/"%6"V.6L.+'&K"6.)"6H3I.)"+():%&).)"+%"L.&(.)"*.+&%)"["5.*(6(.&%)"+%"+%).:.&%3(+')"

)%"H/(%&'/"%/"H/." )'6." L'GK" 5'&*./+'"%6" T'*(-1"+%"0.+&%)K" TQ0YRP,V!" ,/"012(3'"/'"

+%bE"+%"I.F%&"%3'"%/"%)-%")%/-(+'4"%/"%)-%"*()*'".`'")%"3&%E"%6"T'*(-1":&'"R%5%/)."+%"

i&%)')K" i%&)%JH(+')K" R%).:.&%3(+')" [" ,2(6(.+')" i'6W-(3')" +%" 0'/-%&&%[K" %/" %6" 3H.6" )E6'"

I.FW." H/." *.+&%" +%" +%).:.&%3(+'" :'6W-(3'" XP').&('" NF.&&." +%" i(%+&.C!" #8" .`')" *a)"

.+%6./-%K" %/3'/-&a/+')%" -.*F(1/" +()-(/-.)"*.+&%)" FH)3./+'" ." )H)" I(b')K" [" )(JH(%/+'" 6."

3'/)(J/."]H%"&%)'/.F."+%)+%"%6")H&"+%6"3'/-(/%/-%"X%/"Y&J%/-(/.C"+%"^oy(L')"6')"66%L.&'/K"

L(L')"6')"]H%&%*')q_K"%)-%"3'*(-1")%"3'/L(&-(E"%/"6'"]H%"I'["3'/'3%*')"3'*'"%6"T'*(-1"

o,H&%p.qK" 3'/5'&*.+'" :&(*'&+(.6*%/-%" :'&" *.+&%)" +%" +%).:.&%3(+'M.)" :'6W-(3'M.)" X+%6"

3H.6"R'`."P').&('"5H%"5H/+.+'&"["I.")(+'":&%)(+%/-.C!"Xn%6(/K"=88#d"iaJ(/."j%F"+%6"T'*(-1"

+%"0.+&%)9TQ0YRP,VK" 3'/)H6-.+'" %6" #8" +%" .J')-'" +%" =8#=d" iaJ(/."j%F" +%"0.+&%)" ["

h.*(6(.&%)"+%"S&HJH.[')"R%-%/(+')"R%).:.&%3(+')K"3'/)H6-.+."%6"#8"+%".J')-'"+%"=8#=C"

"

,/"&%6.3(E/"."%)-%"3'*(-1"["."%)-%"c6-(*'":%&)'/.b%K"D'&(."3'*%/-.4"

"

!"-#*"+),-#'5,)(0#$)(&"4(0.-&"-#+,#%"#%58A"#+,#%(-#+,),8A(-#A5*"0(-#,0#50#*(*,0&(#,0#,%#]5,#-,#

+.(#50#+,-$,)&")#4,0,)"%.="+(#+,#*58A"-#*5D,),-#t1u2#90#,%#8"*.0(?#C#8"-.#-.0#+")-,#85,0&"?#&(+"-#

-,# '5,)(0# &)"0-'()*"0+(#,0# %58A"+(),-#$(%W&.8"-2#9-&,# ',0/*,0(# ),8())./# &(+"#!"&.0("*;).8"2#90#

,-&,#8"-(?#$()#,D,*$%(?#+,#*"+),-#+,#$),-(-#$(%W&.8(-#C#+,&,0.+(-#+,-"$"),8.+(-?#"#+.$5&"+"-#(#"#

8"0+.+"&"-#"#%"#V),-.+,08."#+,#%"#S,$X6%.8"2#I,#%"#%58A"#$()#),85$,)")#"#-5#A.D(#(#A.D"#"#),85$,)")#"#

&(+(-#%(-#A.D(-#,#A.D"-#C#"#&)"-8,0+,)#"X0#*Y-#,-&"#%58A"#$()#%(4)")#50#:;<.8(#,0#,%#]5,#&(+(-#%(-#

0.J(-#C#0.J"-#'5,)"0#',%.8,-2#XD'&(.K"%/"0.(%&"=88#4"#@C"

=<" R%"%)-."'&J./(G.3(E/"["+%")H"(*:'&-./3(."3'/-%2-H.6"%"I()-E&(3.":.&."%6":&':E)(-'"./.6W-(3'"+%6":&%)%/-%"

-&.F.b'K")%"I.F6.&a"%/"%6"T.:W-H6'"@!"

47

"

Y" 3'/-(/H.3(E/" )%" I.F6.&a" F&%L%*%/-%" +%6" 3'/-%2-'" ]H%" %/*.&3." %6" :&'3%)'" +%"

'&J./(G.3(E/"+%" 5.*(6(.&%)"%/"/H%)-&'":.W)!"T'*'"%:WJ&.5%":.&."%)-%" )(JH(%/-%".:.&-.+'K"

:'+&W.*')"3(-.&"."D.H&."T.)-%66./')K"]H(%/"3'/36H[%"%6"-%&3%&"3.:W-H6'"+%")H"6(F&'":;<.8(#

R)*"+(2#Fi`Z[FigFK"^Y&+%"ZH%&&%&'_K"#*%/3('/./+'"]H%"

"!(-# 4(6.,)0(-# +,# 98A,7,))W"# C# U.45,)("# ,0'),0&")Y0# "A()"# "# (&)(# &.$(# +,# ,D;)8.&(?# 'kY4.%# C#

$)('50+"*,0&,#+(%().+(2#9%#+,# %(-#8.,0&(-#+,#*5D,),-#"# %"-#]5,# %,-#'5,#"))"08"+"#+,#-5#7.+"#(&)"#

*5D,)# 8(*(# ,%%"-?# 8"*$,-.0"# C# "0"%'"6,&"?# (# $,)+.,)(0# "# -5# A.D(?# -5# A,)*"0(?# -5# $"+),# (# -5#

*").+(2#b5*.+"-#,0#,%#A"*6),?#,%#&,))()#C#%"#"045-&."?#8(&.+."0"*,0&,#&.,0,0#]5,#A"8,)#"#50#%"+(#

-5#$)($."# 8")4"#$")"?#"+,*Y-#+,#65-8")#"# -5-# '"*.%."),-?# -,)# %"# D,'"-#+,%#A(4")# C#45")+."0"-#+,#

05*,)(-"-#0.J(-#C#0.J(-#A5;)'"0(-?#+,#*5D,),-#C#A(*6),-#"08."0(-?#,0',)*(-2#X=88?4"#77C""

!"#),-$5,-&"#"#%"#+,-"$").8./0#'()="+"#+,#$,)-(0"-#,0#:;<.8(#

#

T'*'" [." )%" *%/3('/EK" 6." &%:&%)(E/" /'" )E6'" %&." I.3(." .]H%66.)" :%&)'/.)" (/L'6H3&.+.)"

.3-(L.*%/-%" %/" 6." 6H3I." X.&*.+." '" /'C!" Y+%*a)" +%" L%&)%" .5%3-.+')" :'&" 6." %b%3H3(E/K"

-'&-H&.K"%/3.&3%6.*(%/-'"'"+%).:.&(3(E/"+%" )H)" )%&%)"]H%&(+')K"%)-')" 5.*(6(.&%)" -.*F(1/"

3'&&W./"&(%)J')"5W)(3')"[")H5&W./".*%+&%/-.*(%/-')":'&":.&-%"+%6",)-.+'!",6")'6'"I%3I'"+%"

66%L.&" H/" .:%66(+'" :'+W." )(J/(5(3.&" -'&-H&." '" *H%&-%!" D." +%-%/3(E/" +%" 6')" *(6(-./-%)"

-.*:'3'"J.&./-(G.F."6.")%JH&(+.+"+%")H)"5.*(6(.)!"i.&.""6')"5.*(6(.&%)"+%":&%)')":'6W-(3')K"

%2()-W./""+(L%&)')":%6(J&')"["3'/-&.&(%+.+%)4"""

#!"#-.*$%,#7.-.&"#"#%(-#$,0"%,-#,-#50"#"88./0#&,*,)")."2#t222u#\(#A"C#"5&().+"+#]5,#]5.,)"#'),0")#%(-#

"8&(-#+,%.8&.7(-#$(%.8."8(*.%.&"),-2#:58A(-#-(0#%(-#"6(4"+(-#]5,#,<&()-.(0"0#"#%"-#'"*.%."-2#V(8(-?#

%(-#]5,#-,#"&),7,0#"#%%,7")#%(-#8"-(-#+,#]5.,0,-#8(*,&.,)(0#"8&(-#+,#-567,)-./0?#"50#,0#).,-4(#+,#-5##

$)($."# .0&,4).+"+2# t222u# !(-# *,+.(-# +,# 8(*50.8"8./0# -.*$%,*,0&,# ,-&Y0# 8,))"+(-# "# %"-# '"*.%."-?#

+.'50+,0#8(0# -,0-"8.(0"%.-*(# %(-# -"%+(-#+,# %"-#"88.(0,-#")*"+"-?# C# %(-#$(8(-#$,).(+.-&"-#]5,# -,#

"&),7,0# "# +,0508.")# %(-# "&)($,%%(-# (85)).+(-# -(0# 8,0-5)"+(-# ,# .0&.*.+"+(-# $()# %"# b,8),&")W"# +,#

d(6,)0"8./02# V,)(# ,0# *,+.(# +,# %"# )"6."# C# ,%# +(%()?# +,# %"# 8(&.+."0.+"+# ,*$"$"+"# +,# "045-&."?#

*.,+(##,#.*$(&,08."?#"%450"-#'"*.%."-?#$).08.$"%*,0&,#-5-#*5D,),-?#8(*.,0="0#"#)(*$,)#,%#8,)8(2"XT.)-%66./')K"=88?4"=B<C"&

V%"3&%EK"%/"#<?BK"6."Y)'3(.3(E/"+%"i.+&%)"+%"h.*(6(."+%"6')"i&%)')"i'6W-(3')":.&."+%5%/+%&"

." )H)" 5.*(6(.&%)" +%6" .FH)'" %/" 6.)" 3a&3%6%)K" 3'/5'&*.+." )'F&%" -'+'" :'&" *Hb%&%)4" ^6.)"

*.+&%)K" I%&*./.)K" %):').)" [" /'L(.)" )'/" ]H(%/%)" L./" 3'/" *a)" 5&%3H%/3(.!" D." J&./"

48

J%/%&.6(+.+" %)-a" +%):'6(-(G.+.K" )'/" .*.)" +%" 3.).K" %)-H+(./-%)K" 'F&%&.)K" /'" bHGJ./" )H)"

.3-(L(+.+%)"[")E6'" 6.)"*H%L%"%6".*'&"I.3(.")H)")%&%)"]H%&(+')!_" XT.)-%66./')K"=88?4"=B<C"

i'3'"+%):H1)")%"3'/5'&*.&'/"%/"%6"T'*(-1"+%"h.*(6(.&%)"+%"i&%)')"["%2"i&%)')"i'6W-(3')K"

]H%" -%/W." 3'*'" 'Fb%-(L'" 3'/-.3-.&" .F'J.+')" :.&." &%L().&" 6.)" ./'*.6W.)" :&'3%)H.6%)K"

+(5H/+(&".FH)')"["3'/L'3.&"."*a)"5.*(6(.&%)!"XT.)-%66./')K"=88?C""

"

,)-')" J&H:')" 3.&J./" 3'/" %)-(J*.)" +'F6%)4" )'/" [." 5.*(6(.&%)" +%" ^JH%&&(66%&')_K"

^+%6(/3H%/-%)_K" ^.)%)(/')_K" ^:&%)')_K" ^)HFL%&)(L')_K" %-3!K" :%&'" -.*F(1/" )'/"*Hb%&%)" X/'"

:'6(-(G.+.)K"*H3I.)"+%"%66.)".*.)"+%"3.).C!"VH5&%/"%6"+%)(/-%&1)K"6."+%)3.6(5(3.3(E/K"6.":'3."

3&%+(F(6(+.+"["%6"&%3I.G'":'&":.&-%"+%".F'J.+')K":%&('+()-.)K"%" (/36H)'"+%"'&J./(G.3('/%)"

+%5%/)'&.)"+%"+%&%3I')"IH*./')"["+%")H)":&':(')"5.*(6(.&%)"X)'/" 66.*.+.)" 6.)"^SyYV_"9

S/(E/"+%"y(%b.)"Y&J~%/+%&.)C!"XT.)-%66./')K"=88?C",)-'"/'"6.)"+%-(%/%!"

&

,)-%"c6-(*'"%)"H/"./-%3%+%/-%"(*:'&-./-%"+%"6."6H3I."+%"5.*(6(.&%)!",/"%6"3.)'"3'/3&%-'"+%"

5.*(6(.&%)" +%" +%).:.&%3(+')" :'6W-(3')" *%2(3./')K" %6" 3.)'" %*F6%*a-(3'" X[" &%3'/'3(+'"

:cF6(3.*%/-%C"%)"%6"+%"P').&('"NF.&&."+%"i(%+&.K"3H['"I(b'K"n%)c)"i(%+&."NF.&&.K".3H).+'"+%"

)%&"*(%*F&'" +%" 6." D(J." T'*H/()-." =@" +%" V%:-(%*F&%K" 5H%" )%3H%)-&.+'" :'&" 6." R(&%33(E/"

h%+%&.6"+%"V%JH&(+.+"%/"0'/-%&&%["%/"%6".`'"#<?A!"OH/3."*a)"L'6L(E".".:.&%3%&!"

" P').&('" NF.&&.K" :%&)%L%&./-%K" I.3%" H/" &%3'&&(+'" :'&" -'+.)" 6.)" (/)-./3(.)"

JHF%&/.*%/-.6%)" )(/" 12(-'" .6JH/'!" R%):H1)" +%" H/" -(%*:'" +%" Fc)]H%+." (/5&H3-H').K"

+%3(+(E" *H+.&)%" ." 6." T(H+.+" +%"012(3'!" T'/" H/" *'-'&" (/3./).F6%" +%" +%)%):%&.3(E/" ["

+'6'&K"P').&('"66%JE"."(/-%&3%:-.&".6":&%)(+%/-%"%/"-H&/'K"DH()",3I%L%&&W.K"-&%(/-."["/H%L%"

L%3%)" " %/" .3-')" :cF6(3')" " +H&./-%" )H" )%2%/('" :.&." :&%JH/-.&" :'&" )H" I(b'!" V(/" %*F.&J'K"

/H/3."'F-HL'"&%):H%)-.!""XT.)-%66./')K"=88?C"

&&i.&.6%6.*%/-%K" %/" ZH%&&%&'" -.*F(1/" 3'*%/GE" ." I.F%&" *'L(6(G.3(E/" :'&" :.&-%" +%" 6')"5.*(6(.&%)4"":.,0&)"-#,0#\5,7(#!,/0#,%#8"-(#+,#a,-X-#,-#,%#$).*,)(#+,#+,-"$").8./0#'()="+"#]5,#-,#),4.-&)"?#,0#

d5,)),)(?#+(0+,#0(#A"0#8,-"+(#%"-#+,-"$").8.(0,-?#8(*.,0="#,%#$).*,)#.0&,0&(#$()#%,7"0&")#%"#%.-&"#

+,#*X%&.$%,-#"5-,08."-2#R%450(-# '"*.%.),-#+,#+,-"$"),8.+(-?#8(*(#L,%."#V.,+)"#+,#\YD,)"?#R0+);-#

\YD,)"#B,-$(-"#C#A,)*"0(#+,%#$)(',-()#a"8(6#\YD,)"?#+,-"$"),8.+(#,0#Fie`3?#:")4").&"#L"6"J"-#

49

B+,# %"# ,-&.)$,# +,# !58.(3?# C# 9')"W0# v,)*X+,=?# *.%.&"0&,# 8(*50.-&"?# ,0&),# (&)(-?# 8(0# ,%# "$(C(# +,#

-.0+.8"%.-&"-#C#+,%#+,$")&"*,0&(#D5)W+.8(#+,#%"#^0.7,)-.+"+#R5&/0(*"#+,#d5,)),)(#t222u#-,#")).,-4"0#

"# .)# "# %"-# 8(*50.+"+,-# $")"# A"6%")# 8(0# '"*.%."-# +(%().+"-# C# "&,))"+"-2#:58A"-# A"0# A5.+(# +,# %"#

),4./0#(#+,%#,-&"+(?#(&)"-#,-&Y0#,0#,%#A,)*,&.-*(#&(&"%#(#"#8")4(#+,#*5D,),-#]5,#-,#A"0#8"0-"+(#

+,# ),8()),)# .0-&"%"8.(0,-#*.%.&"),-# C# $(%.8."8"-#$),450&"0+(#$()# -5-# -,),-#]5,).+(-2" XT.)-%66./')K"=88?4"=A=9A@C"""

i'3'".":'3'K":'&"%)-')"%)5H%&G')K"3'*(%/G./".":HF6(3.&"(/5'&*.3(E/"+%"6')"5.*(6(.&%)!"i'&"

:&(*%&." L%GK" " .:.&%3(E" %/" 6." :&%/)." /.3('/.6" 96." V),0-"[# H/." /'-." 3'/" 6." +%/H/3." +%"

+')3(%/-')" /'L%/-." [" H/" 3.)')" +%" +%).:.&(E/" 5'&G.+." %/" %6" %)-.+'" +%" ZH%&&%&'!" XR(%G"

*(%*F&')"+%6"T'*(-1"+%"h.*(6(.&%)"+%"i&%)')"["%2"i&%)')"i'6W-(3')K"3H.&%/-."+%"ZH%&&%&'"

["Z&.3'"P.*W&%G"9+%6"i.&-(+'"V'3(.6()-."+%"6')"$&.F.b.+'&%)9"I.FW./"6'J&.+'"H/."%/-&%L()-."

3'/"PHF1/"h(JH%&'.K"J'F%&/.+'&"+%"ZH%&&%&'!C"XT.)-%66./')K"=88?C"

"

,/"#<??"L%(/-()(%-%":&%)')":'6W-(3')"+%6":%/.6"+%"$':'3I(+'"3&%.&'/"%6"T'*(-1":&'"R%5%/)."

+%"i&%)')K"i%&)%JH(+')K"R%).:.&%3(+')"[",2(6(.+')"i'6W-(3')"+%"0'/-%&&%[K"+%6"3H.6"P').&('"

NF.&&.K"3'*'"c/(3."*.+&%"+%"+%).:.&%3(+'K"5'&*E"-.*F(1/":.&-%!"�)-.".)()-(EK"bH/-'"3'/"%6"

T'*(-1"+%"h.*(6(.&%)"["i&%)')"["%2"i&%)')"i'6W-(3')K"."H/."%/-&%L()-.":&%)(+%/3(.6"]H%")%"

6'J&E"3'/3%&-.&"3'/"DE:%G"i'&-(66'"%/".F&(6"+%"%)%"*()*'".`'!",/"6."Fc)]H%+."+%")H"I(b'K"

P').&('" NF.&&." 3'/56H[%" 3'/"'-&.)" 5.*(6(.)" %/" )H"*()*." )(-H.3(E/!"Y)W" 5H%"]H%" 3'/'3(E" ."

T%6(."i(%+&."+%"Oab%&."["$%6*."n.&+E/K"+%"ZH%&&%&'K""["-.*F(1/".6"3'*(-1"+%"6."3(H+.+"+%"

012(3'!""i'3'".":'3'")%"L./"5'&*./+'"&%+%)4"%)%"*()*'".`'K""

"R#50#*,-#+,#]5,#-,#),"%.8,#,%#$).*,)#.0'()*,#+,#4(6.,)0(?#,%#8(*.&;#.0&,4)"+(#$()#S(-").(#j6"))"#C#

%(-# $),-(-# $(%W&.8(-# +,# :(0&,)),C?# 8(07(8"# "# 50# ,085,0&)(# "# %(-# +,*Y-# 8(*.&;-# +,# '"*.%."),-#

'()*"+(-#,0#,%#$"W-#BA"C#,0#d5,)),)(?#\5,7(#!,/0?#a"%.-8(?#G"*"5%.$"-?#b"0#!5.-#V(&(-W#C#,%#I.-&).&(#

U,+,)"%32#b,#50.'.8"0#C#8),"0#,%#L(*.&;#\"8.(0"%#$)(#I,',0-"#+,#V),-(-?#V,)-,45.+(-#I,-"$"),8.+(-#

C# 9<.%."+(-# V(%W&.8(-# BL\VIVVI9V3'# 9%# ,-&.%(# 0()&,J(# +,# +(J"# S(-").(# .*$),-.(0"# "# %"-# *5D,),-#

"-.-&,0&,-2#9-#+,-,075,%&"?#$)($(-.&.7"?#,0&),4"+"##+,-"'."0&,2#!"-#'"*.%."-#+,-856),0#,0#,%%"#"# %"#

%.+,),-"#]5,#0,8,-.&"6"0#$")"#"8&5")#8(0#W*$,&52#!"#%58A"#.08"0-"6%,#+,#,-&"#*"+),#$()#,08(0&)")#

"#-5#A.D(#a,-X-?#C#"#8,0&,0"),-#+,#*5D,),-#C#A(*6),-#+,-$"),8.+(-?#%"#8(07.,)&,0#,0#%"#'.45)"#*Y-#

,*6%,*Y&.8"#+,#%"#.=]5.,)+"#+,#%"#;$(8"2"XT.)-%66./')K"=88?4"=;BC""

R%):H1)" +%" H/." /'-." +%" V)(8,-(" ]H%" 3'*H/(3.F." 6." 3&%.3(E/" +%" %)-%" /H%L'" 3'*(-1K"

3'*%/GE" ." I.F%&" H/." '6%.+." +%" 3.&-.)" +(&(J(+.)" ." 1)-%d" ^3.&-.)" +%"*Hb%&%)" [" I'*F&%)"

50

:&%)')K" '-&.)" +%" %2(6(.+')K" +%/H/3(.)" :'&" +%).:.&(3('/%)" 5'&G.+.)d" '-&.)" 5.*(6(.)" :(+%/"

.)%)'&W."6%J.6"'")H"H&J%/-%":&%)%/3(."%/"+(6(J%/3(.)"*(/()-%&(.6%)"3H./+'"I./".:&%I%/+(+'"

." 6')" )H[')!" X!!!C" 6.)" 5.*(6(.)" 3.+." L%G" )%" .-&%L%/"*a)" ." +%/H/3(.&" 6')" .-&':%66')" %/" )H"

3'/-&.!"X!!!C"i'3'"-(%*:'"+%):H1)"%6"/c*%&'"+%".J&H:.3('/%)")%"+H:6(3.K"[")%")()-%*.-(G."["

.*:6W."6."6()-."+%"3.)')"+%"+%).:.&(3(E/"%/"ZH%&&%&'!_"XT.)-%66./')K"=88?4"=;BC"

" ,/"#<?;K"%6"&%3-'&"+%"6."S/(L%&)(+.+"+%"Q.2.3.K"0.&-W/%G"V'&(./'K"-&.)"I.F%&")(+'"

)H" I(b." )%3H%)-&.+." [" -'&-H&.+." " :'&" )H:H%)-." L(/3H6.3(E/" +%" 1)-%" 3'/" 6." '&J./(G.3(E/"

S/(E/"+%6"iH%F6'"X]H%"%/-'/3%)"I.FW."I%3I'"%)-.66.&"7"F'*F.)"%/"ZH.+.6.b.&.CK"%/3.F%GE"

%6" 3'*(-1" 6'3.6"+%6"TOiRiiR,i"%/"Q.2.3.!"i'3'"+%):H1)")%"+%)6(/+E"[" 5'&*E"%6"T'*(-1"

N/+%:%/+(%/-%" :&'" R%5%/)." +%" i&%)')K" i%&)%JH(+')K" R%).:.&%3(+')" [" ,2(6(.+')" i'6W-(3')"

XTNiRiiR,iCK".6"]H%"*a)"-.&+%")%"6%".J&%JE"6.":.6.F&."^/.3('/.6_"XTONiRiiR,iC!""

" ^,6"3'*(-1"+%"V'&(./'")%"3.&.3-%&(G.":'&"&%.6(G.&".33('/%)"*a)"F%6(J%&./-%)K"3'*'"

6." -'*."+%" %*F.b.+.)K" :.&." %2(J(&" :&a3-(3.*%/-%" 6.)"*()*.)" +%*./+.)" ]H%" %6" 6(+%&.+'"

:'&" P').&('" NF.&&.!" DH%J'" +%" 6." &H:-H&.K" %6" 3'*(-1" ]H%" %66." %/3.F%G." I.3%" H/."

*'+(5(3.3(E/" +%" )H" 6.&J'" /'*F&%" \" :.&." +(5%&%/3(.&)%" +%6" +%" V'&(./'9K" ]H(-." 6." :.6.F&."

^/.3('/.6_" [" .J&%J." ^012(3'_" .6" 5(/.6!" uH%+." 3'*'" T'*(-1" :&'" R%5%/)." +%" i&%)')K"

i%&)%JH(+')K" R%).:.&%3(+')" [" ,2(6(.+')" i'6W-(3')" +%"012(3'" XTiRiiR,i0C!" XT.)-%66./')K"

=88?4"=;?C"

" ,6":&(*%&'"+%"%)-')"3'*(-1)"XTONiRiiR,iCK":'&"*%+('"+%"$(-."P.+(66."93H['":.+&%K"

P')%/+'"P.+(66."i.3I%3'"5H%"+%).:.&%3(+'"%/"#<?B"%/"Y-'[.39K")%"3'/3%/-&E"%/"&%J()-&.&"["

+'3H*%/-.&" 6')" 3.)')" +%" +%).:.&(3('/%)" %/" 6." )(%&&." +%" ZH%&&%&'!" ,/" #<?;" 3.*F(E" )H"

/'*F&%" [" )H&J(E" 5'&*.6*%/-%" 6'" ]H%" I'[" )(JH%" )(%/+'" 6." Y)'3(.3(E/" +%" h.*(6(.&%)" +%"

R%-%/(+')K" R%).:.&%3(+')" [" yW3-(*.)" +%" y('6.3('/%)" ." R%&%3I')" mH*./')" %/" 012(3'"

XYhYR,0C!"R%)+%"#<;;"%)-.".)'3(.3(E/"%)"*(%*F&'"+%"6."h%+%&.3(E/"D.-(/'.*%&(3./."+%"

Y)'3(.3('/%)" +%" h.*(6(.&%)" +%" R%-%/(+')" R%).:.&%3(+')K" h,R,hY0K" '&J./()*'" ]H%" 3'/"

)%+%"%/"y%/%GH%6.K"3'/5'&*.+'":'&"#A"'&J./(G.3('/%)"+%"##":.W)%)" 6.-(/'.*%&(3./')!"Y"

)H"L%GK"YhYR,0"%)":.&-%"+%"H/."&%+"+%"*a)"+%"A8"'&J./(G.3('/%)"/'"JHF%&/.*%/-.6%)"+%"

+%&%3I')" IH*./')!" XT.)-%66./')" =88?d" iaJ(/." j%F" +%" YhYR,0K" 3'/)H6-.+." %6" #=" +%"

/'L(%*F&%"+%"=8#8C"""

51

& ,6")%JH/+'"+%"%)-')"3'*(-1)K"%6"TiRiiR,i0K")%"3'/L(&-(E"%/"#<;?"%/" 6'"]H%"I'["

3'/'3%*')" 3'*'" %6" T'*(-1" o,H&%p.q" @8!" VH" :&(*%&." +%*./+." 5H%" [" )(JH%" )(%/+'" 6."

:&%)%/-.3(E/" ()"& *+,!" +%" 6')" +%).:.&%3(+')" :'&" :.&-%" +%6" ,)-.+'" *%2(3./'!"

Xi')-%&('&*%/-%" 6." +%*./+." +%L(/'" %/" 6." (/+.J.3(E/" +%" 3&W*%/%)" :'&" :.&-%" +%6" ,)-.+'"

3'/-&."6')"':')(-'&%)!C""

"

@.-&()."#+,#.08"0-"6%,-#%58A"-#7-#A.-&()."#+,#.*$50.+"+#B%(4)(-#C#')"8"-(-3#

#

S/'"+%"6')":&(/3(:.6%)"6'J&')"+%6"9%/".]H%6"%/-'/3%)9"TiRiiR,i0"%)"%6"I.F%&"%*:%G.+'"."

&'*:%&" 3'/" %6" 3%&3'" (/5'&*.-(L'!" ,/" %6" .`'" +%" #<?;K" %)-%" 3'*(-1" 6'J&E" %6" .:'['" +%" A?"

'&J./(G.3('/%)" X'F&%&.)K" )(/+(3.6%)K" 3.*:%)(/.)K" %)-H+(./-(6%)K" 3H6-H&.6%)K" 5%*(/()-.)K"

IH*./(-.&(.)"["+%"6')":.&-(+')"/'"&%J()-&.+')4"i.&-(+'"T'*H/()-."0%2(3./'"XiT0CK"i.&-(+'"

0%2(3./'" +%" 6')" $&.F.b.+'&%)" Xi0$CK" i.&-(+'" P%L'6H3('/.&('" +%" 6')" $&.F.b.+'&%)" XiP$CK"

i.&-(+'"V'3(.6()-."+%" 6')"$&.F.b.+'&%)"XiV$CC":.&." 66%L.&"."3.F'"H/."3.*:.`."/.3('/.6"+%"

6H3I." :'&" 6." .*/()-W." J%/%&.6" +%" -'+')" 6')" *(6(-./-%)" :%&)%JH(+')K" :&%)')" [" %2(6(.+')"

:'6W-(3')!" V%" +%*./+.F." 6." :&%)%/-.3(E/" +%" -'+')" 6')" +%).:.&%3(+')K" %6" &%J&%)'" +%" 6')"

%2(6(.+')"["6."/'"&%:&%)(E/"I.3(.".]H%66')"]H%"5H%&'/"6(F%&.+')!"XS/"*%)"*a)"-.&+%K"3.F%"

*%/3('/.&K")%"+./":&%3().*%/-%"3.)')"+%"%2"*(6(-./-%)"]H%")'/"F.6%.+')":'3'"+%):H1)"+%"

I.F%&" )(+'" 6(F%&.+')C!" ,/" )%:-(%*F&%" +%" %)%" *()*'" .`'K" 6.)" *.+&%)" +%" +%).:.&%3(+')"

:'6W-(3')K" %/" +%*./+." +%" 6." :&%)%/-.3(E/" +%" 1)-')K" )%" :6./-.&'/" 5&%/-%" ." 6." T.-%+&.6"

*%-&':'6(-./."%/"H/."IH%6J."+%"I.*F&%"H/"+W."./-%)"+%6" (/5'&*%":&%)(+%/3(.6"+%"DE:%G"

i'&-(66'!"Y6"-(%*:'")%"+(5H/+(E"%/"6.":&%/)."%6")%3H%)-&'"["*H%&-%"+%6"+(&%3-'&"+%6"N/)-(-H-'"

+%"N/L%)-(J.3('/%)"h(6')E5(3.)"+%"6."SOY0K"mHJ'"0.&Ja(/"TI.&6%)K"I(b'"+%6"%*F.b.+'&"+%"

012(3'"%/",)-.+')"S/(+')"."*./')"+%"6."D(J."=@"+%"V%:-(%*F&%!",)-'"%*:.`E"6."IH%6J."+%"

6.)" *.+&%)" [K" ./-%" 6." .*%/.G." +%" )%&" +%).6'b.+.)" [" 6." (/3H*:6(+." :&'*%)." +%" ]H%" 6."

@8" T'/3%:-'4" Q&J./(G.3(E/" O'" ZHF%&/.*%/-.6d" ./-%)" T'*(-1" i&'9R%5%/)." +%" i&%)')K" i%&)%JH(+')K"

R%).:.&%3(+')" [" ,2(6(.+')" i'6W-(3')" +%"012(3'K" 5H/+.+."%/"#<??!" hH/+.+'&.4" P').&('" NF.&&." +%"i(%+&.!"m(b'" +%).:.&%3(+'4" n%)c)" i(%+&." NF.&&." X.3H).+'" +%" )%&" +%" 6." D(J." T'*H/()-." =@" +%" V%:-(%*F&%CK")%3H%)-&.+'":'&" 6."RhV"%/"0'/-%&&%[!"i&(*%&."+%*./+.4":&%)%/-.3(E/"TQO"yNRY"+%" 6')"+%).:.&%3(+')":'&":.&-%"+%6",)-.+'"*%2(3./'"X6H%J'"+%*./+."+%L(/'"%/"(/+.J.3(E/"+%"3&W*%/%)":'&":.&-%"+%6",)-.+'"3'/-&."':')(-'&%)C"XiaJ(/."}%F"+%",H&%p.C!"

52

(/5'&*.3(E/")'F&%" 6')"+%).:.&%3(+')":'6W-(3')")%&W.":&%)%/-.+."%/"%6" (/5'&*%K"+%3(+(%&'/"

*'L%&)%!",/"%)-%"c6-(*'")%"*%/3('/E" 6." 6%["+%".*/()-W.K":%&'"/'" )%"+(b'"/("H/.":.6.F&."

)'F&%"6')"+%).:.&%3(+')!"

" S/" .`'" *a)" -.&+%K" %6" #8" +%" +(3(%*F&%" +%" #<?<K" 6.)" *.+&%)" +%" +%).:.&%3(+')"

6'J&.&'/" 3'/L'3.&"."=8"*(6" :%&)'/.)":.&."*.&3I.&" bH/-'" 3'/"%66.)!"R%):H1)"+%"%)-'K" AB"

'&J./(G.3('/%)"3(L(6%)"3&%.&'/"H/"5&%/-%"3'*c/"X(*:'&-./-%"./-%3%+%/-%"+%"6."+%5%/)."+%"

+%&%3I')"IH*./')"%/"012(3'C4".)W")H&J(E"%6"h&%/-%"O.3('/.6"T'/-&."6."P%:&%)(E/K":'&"6.)"

D(F%&-.+%)"R%*'3&a-(3."["6."V'6(+.&(+.+K"]H%"%2(JW."6.":&%)%/-.3(E/"+%"6')"+%).:.&%3(+')K"

6." .F'6(3(E/" +%" 6." -'&-H&.K" 6." +()'6H3(E/" +%" 6')" 3H%&:')" :'6(3(.3')" Ç&%:&%)(L')"

./-(3'/)-(-H3('/.6%)ÇK" %6" 3H*:6(&" 3'/"H/.".*/()-W." &%.6" [" J%/%&.6" .":&%)')K":%&)%JH(+')"["

%2(6(.+')":'6W-(3')K"6."%6(*(/.3(E/"+%"6.)"3a&3%6%)"36./+%)-(/.)"["%6"3%)%"+%"6.":%&)%3H3(E/"."

6')" +()(+%/-%)" :'6W-(3')!" XT.)-%66./')K" =88?C"R%):H1)" +%" :'3'"*a)" +%" +(%G" .`')" +%" L(+.K"

%)-%" 5&%/-%" +%).:.&%3(EK" )(%/+'" &%3'/)-(-H(+'" %/" =88?" :'&" *a)" +%" 3(%/" J&H:')!" X!"#

a()0"+"?##"+%"'3-HF&%"+%"=88?4"#=C!"$HL'"H/":&(*%&"J&./"(*:.3-'4"^D."-&%*%/+.":&%)(E/"

+%6"5&%/-%"&%3(1/"3'/5'&*.+'":&'L'3."H/"I%3I'"%2-&.'&+(/.&('K"%):%&./G.+'&!"T(/3'"+W.)"

+%):H1)"+%")H"3&%.3(E/K")%".F&%/"6.)":H%&-.)"+%6"T.*:'"0(6(-.&"Oc*%&'"S/'_"XT.)-%66./')K"

=88?4"@8BCd")'/":&%)%/-.+.)"X6(F%&.+.)C";":%&)'/.)"+%).:.&%3(+.)!"

" Z&.3(.)" ." 6." :&%)(E/" %b%&3(+." I.3(." %6" J'F(%&/'" :'&" :.&-%" +%" %)-." '&J./(G.3(E/K"

)'F&%"-'+'":'&"%6"I%3I'"+%"I.F%&)%"L(/3H6.+'"3'/"[".3H+(+'"."(/)-./3(.)"(/-%&/.3('/.6%)K"

)%" 6'J&E"L()(F(6(G.&"." 6')"+%).:.&%3(+')"%/"012(3'K".":%).&"+%6"%)5H%&G'"+%6"J'F(%&/'":'&"

/%J.&" )H" %2()-%/3(.!" P%3H1&+%)%K" %/" :&(*%&" 6HJ.&K" ]H%K" %/" #<??K" 3H./+'" .c/" %&." %6"

TOiRiiR,iK""1)-%"

8(*.,0="#"#+.'50+.)#-5-#+,0508."-#'5,)"#+,#%"-#')(0&,)"-#C# %(4)"#]5,#,%#:(7.*.,0&(#j0&,)0"8.(0"%#

+,#a5).-&"-#L"&/%.8(-#C#%"#!.4"#j0&,)0"8.(0"%#$()#%(-#I,),8A(-#+,%#@(*6),#(6&,04"0#$,)*.-(#('.8."%#

$")"#.07,-&.4")%"-2#l-&"-#-,J"%"0#%"#,<.-&,08."#+,#*"=*())"-#,0#,%#L"*$(#:.%.&")#\X*,)(#^0(#C#%"#

"8&5"8./0#+,# %"#v).4"+"#v%"08"# 8(*(#50#4)5$(#$")"*.%.&")# ]5,# 8(*,&W"# %(-# $,(),-# "&)($,%%(-2# tu#

R*6"-#"4)5$"8.(0,-# ),8(4,0#*X%&.$%,-# &,-&.*(0.(-#+,# '"*.%."),-#C#+,#$),-(-#$(%W&.8(-2#9%# ),$()&,#

'.0"%#,-#,0&),4"+(#"%# &.&5%")#+,#d(6,)0"8./0?# a,-X-#S,C,-#@,)(%,-2#9%#8"$W&5%(#:;<.8(#+,#R*0.-&W"#

j0&,)0"8.(0"%#%(#"7"%"2#9-&.*"#]5,#+(-8.,0&"-#$,)-(0"-#,-&Y0#),8%5.+"-#C#-(0#-5D,&"-#"#&()&5)"-#,0#

+.7,)-"-# 8Y)8,%,-# 8%"0+,-&.0"-#+,%# $"W-?# $")&.85%")*,0&,# ,0#,%# L"*$(#:.%.&")#\X*,)(#^0(2#L(*(#

),-$5,-&"#,%#$)(85)"+()#s-8")#U%(),-#bY08A,=#+,8%")"#"#9<8;%-.()#]5,#,-#H.0,<"8&"K#%"#.0'()*"8./02#

S,&"+()?#.0-&"#"#%"#()4"0.="8./0#"#7.-.&")#%"-#.0-&"%"8.(0,-#8"-&),0-,-#$")"#]5,#8(*$)5,6,0#]5,#,0#

;-&"-#h0(#A"C#0"+.,#]5,#0(#$,)&,0,8.,)"#"%#,D;)8.&(h2#XT.)-%66./')K"=88?4"=;7C""

53

" $.*F(1/" :'+%*')" )%`.6.&" %6" 3.)'" +%" H/'" +%" 6')" 5HJ(-(L')" +%6" :%/.6" +%" QF6.-')K"

(/-%J&./-%" +%" 6." D(J." =@" +%" V%:-(%*F&%K" 0.&('" r6L.&'" T.&-.J%/.K" ,%# d5"C*"-K"

+%-%/(+'M+%).:.&%3(+'"%/".F&(6"+%"#<?;!",)-%"3.)'"5H%"+(5H/+(+'":'&"P').&('"NF.&&."."/(L%6"

(/-%&/.3('/.6""X)%"%/3'/-&.F."%/"H/."&%H/(E/"+%"Y*/()-W."N/-%&/.3('/.6"%/"V./"h&./3()3'K"

T.6(5'&/(.CK" [" 6'J&E" ).3.&" H/" :&'/H/3(.*(%/-'" ]H%" %2(JW." .6" J'F(%&/'" +%" 012(3'" 6."

:&%)%/-.3(E/"3'/"L(+."+%"%)-%"*(6(-./-%!"Y*/()-W."N/-%&/.3('/.6"*./+E"-&%)"*(6"-%6%J&.*.)"

.6":&%)(+%/-%"XDE:%G"i'&-(66'CK"["%/"%6":%&(E+(3'"9%#^0.7,)-"%?"0(JH%6"r/J%6"Z&./.+')"TI.:."

:HF6(3E"H/"".&-W3H6'"(/-(-H6.+'"^s|"+E/+%"%)-a"%6#d5"C*"-t_!"Z&.3(.)"."%)-."*'L(6(G.3(E/"["

:&%)(E/":'&":.&-%"+%" 6.)" 5.*(6(.)"%)"]H%"%6"J'F(%&/'")%"L%"^'F6(J.+'_".":&%)%/-.&"."%)-%"

*(6(-./-%@#!" XT.)-%66./')K" =88?C" Y)(*()*'K" )%" +('" %6" 3.)'" 9%)%"*()*'" .`'9" +%" Y6%b./+&."

Ta&+%/.)"V./-./."["Y/-'/('"m%&/a/+%G"h%&/a/+%GK".*F')"*.%)-&')"[":%&-%/%3(%/-%)".6"

iRDi" JH%&&%&%/)%!" �)-')" I.FW./" )(+'" +%-%/(+')" %/" 012(3'" [" -&.)6.+.+')" ." ZH%&&%&'!"

$.*F(1/" 5H%" 6." +%/H/3(." 6'3.6" " [" /.3('/.6" 6." ]H%" I(G'" ]H%" 6')" 6(F%&.&./!" XR%"

.:&'2(*.+.*%/-%" 3H.&%/-." +%).:.&%3(+')" ]H%" )%" %/3'/-&.F./" %/" H/." +%" 6.)" 3a&3%6%)"

36./+%)-(/.)K")E6'"%66')"+')")'/"6(F%&.+')!C""

" T.F%" .]HW" )%`.6.&" ]H%K" %/" -1&*(/')" J%/%&.6%)K" 6." (*.J%/" ^+%*'3&a-(3._" ]H%" )%"

I.FW."3'/)-&H(+'"%6"J'F(%&/'"*%2(3./'"I.3(."%6"%2-%&('&"%)-.F.")(%/+'":H%)-."%/"b.]H%":'&"

6." TiRiiR,i0!" |" %)" F.b'" %6" .5a/" +%" ^6(*:(.&_" %)-." (*.J%/" ]H%K" 3'*'" [." )%"*%/3('/E"

./-%&('&*%/-%K" ." :&(/3(:(')" +%" #<?<" %6" :&'3H&.+'&" U)3.&" h6'&%)" Va/3I%G" :&%)%/-E" H/" 9

.F)H&+'9"(/5'&*%"+%).3&%+(-./+'"["^+./+'"3H%/-._"+%"6."6()-."+%"-&%)3(%/-')"3.-'&3%"3.)')"

+%"+%).:.&(3('/%)"+'3H*%/-.+.)":'&"%6"3'*(-14""

"

I,#%(-#&),-8.,0&(-#8"&()8,#8"-(-?#8.,0&(#8.085,0&"#C#85"&)(#*5).,)(0#,0#8(*6"&,?#(8A,0&"#C#05,7,#

,-&Y0#7.7(-#C#$)/'54(-?#7,.0&.-;.-#0508"#$")&.8.$")(0#,0#"88.(0,-#-567,)-.7"-#$()#%(#]5,#0(#&,0+)W"0#

]5,#-,)#8"-(-#$(%W&.8(-?#7,.0&,#*5).,)(0#,0#).J"-?#+.,=#'5,)(0#,D,85&"+(-#$()#-5-#8(*$"J,)(-?#C#+(-#

'"%%,8.,)(0#"%#&)"&")#+,#,-8"$")#+,#$).-./02#R#%"-#$),450&"-#+,#%(-#$,).(+.-&"-#0.,4"#%"#$)Y8&.8"#+,#%"#

&()&5)"#$(%.8."8"#(#*.%.&")?#%"#,<.-&,08."#+,#%"#v).4"+"#v%"08"#"-W#8(*(#+,#8Y)8,%,-#8%"0+,-&.0"-#,0#

,%#L"*$(#:.%.&")#\X*,)(#^0(2#XT.)-%66./')K"=88?4=<?C"@="

@#" m.FW.")(+'"-'&-H&.+'"["6%"5H%".*:H-.+."H/.":(%&/.":'&"I.F1&)%6%"/%J.+'".-%/3(E/"*1+(3."\"."*'+'"+%"

-'&*%/-'9"+%):H1)"+%"L.&(')"+():.&')!"@=" OE-%)%K" .+%*a)K" 6'" .F)H&+'" +%" /'" 3'/3%F(&" 3.)')" :'6W-(3')" -'+')" .]H%66')" ]H%" (/L'6H3&./" ." J%/-%" /'"

*(6(-./-%!" T'*'" )(" 6'" ^:'6W-(3'_" +%" %)-%" .)H/-'" 5H%&." )E6'" +%-%&*(/.+'" :'&" 6." .3-(L(+.+" :'6W-(3." +%6"+%-%/(+'K"["/'":'&"6.".33(E/"+%"6."+%-%/3(E/"3'*%-(+.":'&".J%/-%)"+%6",)-.+'"'":'&":%&)'/.)"'"J&H:')"+%"

54

"

,)-%"c6-(*'"%)"H/'"+%"6')"-./-')"%b%*:6')"+%"H/"+()3H&)'"'5(3(.6"+%)6(/+.+'"+%"6."&%.6(+.+"["

+,-"$"),8,+()#[+()3H&)(L.*%/-%9"+%"6')"+%).:.&%3(+')"%/"012(3'!"""

" Y6"T'*(-1"o,H&%p.q"X'"%/")H"*'*%/-'"%6"TiRiiR,i0CK"[":.&-(3H6.&*%/-%"."P').&('"

NF.&&.K" )%" 6%" .-&(FH[%" %6" *1&(-'" +%" I.F%&" &'-'" [" 3H%)-('/.+'" %)-%" +()3H&)'K" +%" I.F%&"

L()(F(6(G.+'"."6')"+%).:.&%3(+')4"^,/"012(3'K"6.")%`'&."P').&('"NF.&&."I."I%3I'"*(6.J&')"%/"

6." Fc)]H%+." +%" 6')" +%).:.&%3(+')!" X!!!C" #B;" +%-%/(+')" ]H%" %)-.F./" +%).:.&%3(+')" X!!!C"

+%F(+'".")H"(/-%&L%/3(E/"5H%&'/"6(F%&.+')!"h&%/-%"."%)-.":./'&a*(3.K"6')"&%)H6-.+')"+%"6.)"

.33('/%)" '5(3(.6%)" %/" 012(3'" :.&." 66%J.&" ." +%-%&*(/.&" 6." )H%&-%" +%6" &%)-'" +%" 6')"

+%).:.&%3(+')")(JH%/")(%/+'"*.J&')!_"X0'/-%*.['&K"=88?4"=A?C""

" ^D."J&.L%+.+"+%"%)-%"+%6(-'"+%",)-.+'"["+%"6%)."IH*./(+.+"6'"I."I%3I'"'Fb%-'"+%"

.-%/3(E/" [" +%" )%JH(*(%/-'" %/" +(L%&)')" (/)-&H*%/-')" bH&W+(3')" (/-%&/.3('/.6%)_"

X0'/-%*.['&K" =8#84" =B#C4" ,6" %)5H%&G'" +%" 6H3I.)" +%" +(L%&)')" :.W)%)" 6.-(/'.*%&(3./')" )%"

-&.+Hb'" %/" 6." 3&%.3(E/" +%" 6." T'/L%/3(E/" Y*%&(3./." %/" T'/-&." +%" 6.)" R%).:.&(3('/%)"

h'&G.+.)" [K" %/" %6" a*F(-'" (/-%&/.3('/.6" )%" &%+.3-E" H/." +%36.&.3(E/" %/" 3'/-&." +%" 6.)"

+%).:.&(3('/%)" 5'&G.+.)" X3'/" .:'['" +%" .6JH/')" J'F(%&/')" [" +%" *H3I.)" QOZC!" X0.(%&K"

=88#C"T.F%"+%)-.3.&".]HW"H/"5.3-'&":'+%&')'"%/"%6"3&%3(*(%/-'"+%"6.)"&%+%)"&%J('/.6%)"+%"

QOZ" .6" 3H.6" I.3%" &%5%&%/3(." R.J/(/'" X=88AC4" ^%6" %5%3-'" +%*')-&.3(E/_!" ,)" 36.&'" ]H%" %6"

3'/-.3-'"3'/"%2:%&(%/3(.)"+%"'-&')":.W)%)"+%"Y*1&(3."D.-(/."%)" (*:'&-./-%":.&."6." 6H3I."

(/-%&/.!" ,)-'" &%)H6-." *H[" %L(+%/-%" %/" 6." 3'/5'&*.3(E/" +%" '&J./(G.3('/%)" *%2(3./.)!"

,2()-%"H/"LW/3H6'"(*:'&-./-%!"P').&('"NF.&&.K".6"(/(3('"+%")H"*'L(*(%/-'K")%"H/(E"."6."6H3I."

+%" '-&')" '&J./()*')" +%" D.-(/'.*1&(3." ]H%" )%" I.FW./" [." 5'&*.+'" [" ]H%" 3'/)-(-H[%/" H/"

./-%3%+%/-%"["H/"3'/-%2-'":'6W-(3'"]H%"/'":H%+%"(J/'&.&)%4"*.+&%)".&J%/-(/.)"+%"6."i6.G."

+%"0.['K"%6"Z&H:'"+%"Y:'['"0H-H'"+%"ZH.-%*.6.K" 6.)"*.+&%)" 3I(6%/.)" [" 6')" 5.*(6(.&%)"

H&HJH.[')K" [" bH/-.)" 3'/5'&*.&'/" 6." h,R,hY0" Xh%+%&.3(E/" +%" h.*(6(.&%)" +%" R%-%/(+')9

R%).:.&%3(+')C!" Y`')" +%):H1)K" %)-%" %)5H%&G'" %)" %6" ]H%" )%" -&.+H3%" %/" 6." 3&%.3(E/" +%" 6."

T'/L%/3(E/" Y*%&(3./." %/" T'/-&." +%" 6.)" R%).:.&(3('/%)" h'&G.+.)!" D." 3'/5'&*.3(E/" +%"

&%+%)")'3(.6%)"+%" 6.)"]H%"I.F6.*')K"/'":H%+%"L%&)%"&%56%b.+."*a)"36.&.*%/-%"]H%"%/"%6"

:%&)'/.)"]H%".3-c./"3'/"6.".H-'&(G.3(E/K"%6".:'['"'"6.".]H(%)3%/3(."+%6",)-.+'!"T'*'")(K".+%*a)K"%6"5(/"+%"%)-.)"+%-%/3('/%)"/'"5H%&."+%"W/+'6%":'6W-(3'!"""

55

I%3I'"+%"]H%"I'["+W."h,R,hY0"%)-a"3'/5'&*.+'":'&"*a)"+%"*a)"+%"#A"'&J./(G.3('/%)"+%"

+()-(/-')" :.W)%)" +%" D.-(/'.*1&(3.@@!" P%3'&+%*')" ]H%" YhYR,0" 5'&*." :.&-%" +%" %)-."

h%+%&.3(E/!"

" i'&" '-&'" 6.+'K" 6." T'/L%/3(E/" N/-%&.*%&(3./." )'F&%" R%).:.&(3(E/" h'&G.+." +%"

i%&)'/.)"5H%"3&%.+.":'&"*(%*F&')"+%"6."Q&J./(G.3(E/"+%"6')",)-.+')"Y*%&(3./')"\Q,Y\"

%/" #<<B" [" 5H%" 5(&*.+." :'&" 012(3'" %/" =88#!" T'*'" F(%/" *%/3('/./" V(6L(." RH-&1/(-" ["

Z'/G.6'" y.&%6." ^6')" -(%*:')" :'6W-(3')" [" )'F&%" -'+'" bH&W+(3')" 3'*:&'*%-%/" %6"

3H*:6(*(%/-'"+%" 6')"+%&%3I')"+%" 6')".5%3-.+')"["L('6%/-./")H)"%]H(6(F&(')"%*'3('/.6%)!_"

XRH-&1/(-" [" y.&%6.K" =8874" @@AC" ,)-'" )%" %L(+%/3(." %/" %6" I%3I'" +%" ]H%K" .H/" I.F(1/+')%"

3&%.+'"[."+%)+%"#<<8K"%/"%6")%2%/('"+%"T.&6')"V.6(/.)K"6."T'*()(E/"O.3('/.6"+%"R%&%3I')"

mH*./')" XTORmCK" 5H%" I.)-." =88#K" J&.3(.)" ." 6." :&%)(E/" +%" 6')" 3'*(-1)" +%" 5.*(6(.&%)" X,6"

T'*(-1"o,H&%p.q"3H*:6(E"H/":.:%6"5H/+.*%/-.6C"]H%"%)-."3'*()(E/"(/5'&*E"]H%"6."5(JH&."

+%6"+,-"$"),8.+("I.FW.")(+'"&%3'/'3(+."bH&W+(3.*%/-%!"XRH-&1/(-"["y.&%6.K"=887C"i'&"'-&'"

6.+'K" 5H%" I.)-." +%):H1)" +%" @A" .`')" X%/" +(3(%*F&%" +%6" =88<C" ]H%K" J&.3(.)" ." 6." :&%)(E/"

%b%&3(+.":'&"6."YhYR,09h,R,hY0"[":'&")H":&%)(+%/-.K"$(-."P.+(66."0.&-W/%G"9I(b."P')%/+'"

P.+(66.K" +%).:.&%3(+'" :'6W-(3'" +%-%/(+'" %/" #<?B" %/" Y-'[.3K" ZH%&&%&'9K" )%" %*(-(E" H/."

&%)'6H3(E/" :'&" :.&-%" +%" 6." T'&-%" N/-%&.*%&(3./." +%" R%&%3I')" mH*./')" XTNRmCK" ]H%"

+%*./+E" .6" ,)-.+'"*%2(3./'4" .)H*(&" )H" &%):'/).F(6(+.+" %/" 6." +%).:.&(3(E/" 5'&G.+." +%"

@@"Q&J./()*')"%/"D.-(/'.*1&(3."3''&+(/.+')"%/""h,R,hY04"D.)"0.+&%)"["YFH%6.)"+%"6."i6.G."+%"0.['""

+%" Y&J%/-(/.d" T'*()(E/" +%" h.*(6(.&%)" +% R%-%/(+')9R%).:.&%3(+')" :'&" P.G'/%)" i'6W-(3.)d" T'*()(E/" +%"V'6(+.&(+.+" +%" h.*(6(.&%)" +%" i&%)')" i'6W-(3')K" 0H%&-')" [" R%).:.&%3(+')" +%" Y&J%/-(/.d" Y)'3(.3(E/" +%"h.*(6(.&%)" +%" N-.6(./')"R%-%/(+')9R%).:.&%3(+')" %/"Y&J%/-(/.d" Y)'3(.3(E/" +%" h.*(6(.&%)" +%"R%-%/(+')9R%).:.&%3(+')" [" 0a&-(&%)" :'&" 6." D(F%&.3(E/" O.3('/.6" +%" z'6(L(.d" Z&H:'" $'&-H&." OH/3." 0a)" Xz&.)(6Cd"YJ&H:.3(E/" O.3('/.6" +%" h.*(6(.&%)" +%" R%-%/(+')9R%).:.&%3(+')" Xz16J(3.Cd" Y)'3(.3(E/" +%" h.*(6(.&%)" +%"i&()('/%&')" R%).:.&%3(+')" +%" TI(6%d" Y)'3(.3(E/" +%" h.*(6(.&%)" +%" R%).:.&%3(+')" S&HJH.[')" X%)-.)" +')"c6-(*.)K" 3&%.+.)" %/" h&./3(." +H&./-%" %6" %2(6('" 3I(6%/'" [" H&HJH.['Cd" T'*(-1" +%"0.+&%)" [" h.*(6(.&%)" +%"i&%)')K"R%).:.&%3(+')"["Y)%)(/.+')"i'6W-(3')"+%",6"V.6L.+'&"^0'/)%`'&"Y&/H65'"P'*%&'_"XTQ0YRP,VCd"T'*(-1" +%" h.*(6(.&%)" i&'9D(F%&-.+" +%" i&%)')K" R%).:.&%3(+')" [" Y)%)(/.+')" i'6W-(3')" +%" ,6" V.6L.+'&"^0.&(./%6."Z.&3W."y(66.)_"XTQR,hY0Cd"T'*(-1"+%"0.+&%)"["h.*(6(.&%)"T&()-(./')"+%"i&%)')K"R%).:.&%(3')"["Y)%)(/.+')"^i.+&%"Q3-.L('9m%&*./."V(6L(._"XQ0YhYTCd"Z&H:'"+%"Y:'['"0H-H'"+%"ZH.-%*.6.d"T'*(-1"+%"h.*(6(.&%)"+%"R%-%/(+')9R%).:.&%3(+')"%/"m'/+H&.)"XTQhYR,mCd"T'*(-1"O.3('/.6"N/+%:%/+(%/-%"i&'9R%5%/)."+%"i%&)%JH(+')"[",2(6(.+')"i'6W-(3')"XTONCd"T'*()(E/"i%&*./%/-%"+%"h.*(6(.&%)"+%"Y)%)(/.+')"["R%).:.&%3(+')" %/" 6." Y&J%/-(/.d" Y)'3(.3(E/" O.3('/.6" +%" h.*(6(.&%)" +%" V%3H%)-&.+')" [" R%-%/(+')9R%).:.&%(3'+)" +%" 6.)" Ä'/.)" +%" ,*%&J%/3(." +%6" i%&c" Y[.3H3I'" XYOhYV,iCd" T'*(-1" +%" h.*(6(.&%)" +%"R%-%/(+')9R%).:.&%3(+')K" P%5HJ(.+')" %/" D(*." XTQhYR,PCK" [" 0.+&%)" [" h.*(6(.&%)" +%" S&HJH.[')"R%).:.&%3(+')!" X,&.)*'"Va%/G"T.&&%-%K"%/",6(G.F%-I"0.(%&K"!"-#*"+),-#+,# %(-#+,-"$"),8.+(-#P50#05,7(#

*.&(#*"&,)0(#,0#R*;).8"#!"&.0"TK"S/(L%&)(+.+"YH-E/'*."0%-&':'6(-./."012(3'"R!h!K"=88#4"=BC""

56

P')%/+'"P.+(66."i.3I%3'K"]H%"66%L%"."3.F'"6."(/L%)-(J.3(E/"3'&&%):'/+(%/-%".6"3.)'"["]H%K"

+%"5'&*."(/*%+(.-.K"6'3.6(3%".".]H%66."LW3-(*.!"^D')"+%&%3I')"IH*./')")%"I./"3'/L%&-(+'"

%/"H/":H/-'"3%/-&.6"+%/-&'"+%6" )()-%*.":'6W-(3'" (/-%&/.3('/.6"["%)-'"I." (/56H(+'" -.*F(1/"

+%3()(L.*%/-%"%/"%6"-&.-.*(%/-'"]H%")%"6%)"+.".3-H.6*%/-%"%/"/.3('/%)"6.-(/'.*%&(3./.)"

3'*'" 6.)" +%6" T'/'" VH&" '" 012(3'_" XRH-&1/(-" [" y.&%6.K" =8874" @@=C!" ,6" &%3'/'3(*(%/-'"

(/-%&/.3('/.6K"%/"%)-%")%/-(+'K"I.")(+'"H/":.)'"(*:'&-./-%"%/"6."I()-'&(."+%"6."&%:&%)(E/"%/"

012(3'!"V(/"%*F.&J'K":'&"%6"I%3I'"+%"]H%".6",)-.+'K"3'*'"5(JH&.K"/'")%" 6%":H%+."3H6:.&"

X)E6'")(*FE6(3.*%/-%Cd"+%F(+'"."6.)"3'[H/-H&.)"(/-%&/.)K"."6')""'F)-a3H6')K"%/3HF&(*(%/-')"

["6%[%)"/.3('/.6%)"3'/-&.+(3-'&(.)"."6')"-&.-.+')"(/-%&/.3('/.6%)"+%"+%&%3I')"IH*./')K"/'"

I."I.F(+'"/(/Jc/"-(:'"+%"3.)-(J'"bH)-'"."6')"&%:&%)'&%)!"XRH-&1/(-"["y.&%6.K"=887C"012(3'"

)%"%/3H%/-&.K"./-%"6."3'*H/(+.+"(/-%&/.3('/.6K"+%/-&'"+%"6')":.W)%)"3'/"*.['&"/c*%&'"+%"

+%).:.&(3('/%)"5'&G.+.)")(/"&%)'6L%&4""

#I,#%(-#oZE#8"-(-#+,#$,)-(0"-#]5,#'5,)(0#7W8&.*"-#+,#+,-"$").8./0#'()="+"#+5)"0&,#%"#+;8"+"#+,#%(-#

ef# C# $).08.$.(-# +,# %(-# "J(-# gf# +,%# -.4%(# cc?# ),-$,8&(# +,# %(-# 85"%,-# ,-&"# L(*.-./0# \"8.(0"%# t+,#

I,),8A(-# @5*"0(-u# -,# $)(0508./# ,0# -5# ),8(*,0+"8./0# EmwEffF?# Fei# +,# ,%%(-# -,# ,085,0&)"0#

.08%5.+(-#,0#%(-#Efg#8"-(-#]5,#,0#&(&"%#),8%"*"#,%#d)5$(#+,#G)"6"D(#-(6),#I,-"$").8.(0,-#U()="+"-#

(# j07(%50&")."-#+,# %"#q)4"0.="8./0#+,# %"-#\"8.(0,-#^0.+"-#"%#4(6.,)0(#*,<.8"0(2"X0'/-%*.['&K"=8#84"=BAC""

z(%/" 6'" +(3%" T.&6')" 0'/-%*.['&4" ^Y" :%).&" +%" ]H%" %)-%" +%6(-'" I." .5%3-.+'" ." *H3I')"

3%/-%/.&%)" +%" LW3-(*.)K" /'" )%" I." :&'3%).+'" ." /(/Jc/" 3H6:.F6%!" D." (*:H/(+.+" I."

:%&*./%3(+'"."6'"6.&J'"+%"B8".`')!"X!!!C"012(3'"%)")(J/.-.&('"+%"/H*%&')')"(/)-&H*%/-')"

bH&W+(3')" (/-%&/.3('/.6%)"]H%" -(%/+%/"." .F'6(&" 6." :&a3-(3."+%" 6." +%).:.&(3(E/K" :%&'"/'"I."

-%/(+'"H/.")'6.")%/-%/3(.":'&"+%).:.&(3(E/"5'&G.+.!""X0'/-%*.['&K"=8#84"=@Ad"=B=C"

"

!"#D5-&.8."#C#,%#8(0(8.*.,0&(#+,#%"#7,)+"+#,0#:;<.8(#

#

^D')" :&'3%)')" +%" 3'/LH6)(E/" &%]H(%&%/" H/" -&.-.*(%/-'" 3'*:6%b'" ]H%" .F.&]H%"*c6-(:6%)"

5.3%-.)K"-./-'"."-&.L1)"+%"3'*()('/%)"+%"6."L%&+.+"XVH+a5&(3."'"ZH.-%*.6.K":'/J.*')":'&"

3.)'C"3'*'"%/":&'3%)')":%/.6%)":')-%&('&%)"XY&J%/-(/."["TI(6%K":'&"%b%*:6'K"'"%/"012(3'"

57

6." 5.66(+." h()3.6W." ,):%3(.6" :.&." 0'L(*(%/-')" V'3(.6%)" [" i'6W-(3')" +%6" i.).+'C!_"

X0'/-%*.['&K"=8#84"#?;C"

&

D.")(-H.3(E/"%/"012(3'"%)"*H["+()-(/-."]H%"%/"'-&')":.W)%)"+%"D.-(/'.*1&(3."%/"+'/+%"6."

-&./)(3(E/"." 6."+%*'3&.3(."+('":(%"."H/.".:%&-H&."&%.6" X3'/")H)":&':(')"'F)-a3H6')K"36.&'"

%)-a4" D%[%)" +%" iH/-'" h(/.6K" +%" QF%+(%/3(." R%F(+.K" %-3!d" I.F&W." ]H%" L%&" 6.)"

:.&-(3H6.&(+.+%)CK" [" %/" +'/+%" )%" I." 6'J&.+'" %6" &%3'/'3(*(%/-'" +%6" 3&(*%/" +%" 6."

+%).:.&(3(E/?" 6." Fc)]H%+." +%" 6')" +%).:.&%3(+')?# 6')" :&'3%)')" +%" %2IH*.3(E/" [" +%"

(+%/-(5(3.3('/%)" +%" 6')" 3H%&:')" I.66.+')K" [" bH(3('" ." '5(3(.6%)" +%" J'F(%&/'!" ,/"012(3'" /'"

:H%+%"I.F6.&)%"+%"H/.".:%&-H&.")%*%b./-%!"T&%'"]H%"/'":H%+%"I.F6.&)%"+%"H/"./-%)"["H/"

+%):H1)!" " V(JH%" I.F(%/+'" +%).:.&%3(+')" [K" *a)" J&.L%" .c/K" )(JH%" I.F(%/+'" /H%L.)"

+%).:.&(3('/%)!" V(" F(%/" 3'/" 6." 3.W+."+%6" &1J(*%/"+'*(/./-%" X%6" iPNC" 9%/"%6" .`'"=8889" )%"

3&%./" /H%L')" %):.3(')" +%" +()3H)(E/K" .3%&3." +%" 6." 3(H+.+./W." [" 6." +%*'3&.3(." XR.J/(/'K"

=88ACK"[")%".6H+%"."H/"^3.*F('_K")%"-&.-."*a)"F(%/"+%"H/"bH%J'"+%".:%&-H&.K"H/."5.3I.+."

XH/."*a)C!" h'2".F&(E" )H"+%F.-%K" 3H./+'"%&." 3./+(+.-'"." 6.":&%)(+%/3(.K" &%3'/'3(%/+'" 6."

6H3I."+%"P').&('"NF.&&.K"&%3'/'3(%/+'"."6')"+%).:.&%3(+')":'6W-(3')#["6')".FH)')"+%6":'+%&d"

^)%" ]H()'" &%L%)-(&" H/" :'3'" +%" .:%&-H&')'K" [" )H" :&(/3(:.6" (/-%/-'" +%" +%)6(/+%" +%" 6')"

J'F(%&/')" :&(W)-.)" -HL'" ]H%" L%&" 3'/" 6." 5.*')." ["*.6" 66.*.+." ÇJH%&&." )H3(.Ç_" XZ6'3p/%&K"

=88?C!"i&%3().*%/-%"./-%"6.":&%)(E/"+%"'&J./(G.3('/%)"X3'*'",H&%p."["YhYR,0C"5H%"]H%"

)%"3&%E" 6."5.*')."h,0QVii4"%)"I.)-."=88#K"]H%" 6."i&'3H&.+H&W."Z%/%&.6"+%" 6."P%:cF6(3."

3&%."6."h()3.6W.",):%3(.6":.&."0'L(*(%/-')"V'3(.6%)"["i'6W-(3')"+%6"i.).+'"Xh,0QViiC"3'/"%6"

5(/" +%" (/L%)-(J.&" [" I.3%&" bH)-(3(." :'&" 6')" +%6(-')" 3'*%-(+')" +(&%3-." '" (/+(&%3-.*%/-%" :'&"

)%&L(+'&%)":cF6(3')"%/"3'/-&."+%":%&)'/.)"L(/3H6.+.)"3'/"*'L(*(%/-')")'3(.6%)"[":'6W-(3')"

+%6":.).+'K"+%)(J/./+'"." NJ/.3('"T.&&(66'"i&(%-'"3'*'"h()3.6",):%3(.6!" XiaJ(/."j%F"+%" 6."

i&'3H&.+H&W."Z%/%&.6"+%"6."P%:cF6(3.K"3'/)H6-.+."%6"="+%"*.&G'"+%"=88?C",)-."h()3.6W.K"F.b'"

%6"+()3H&)'"'5(3(.6"+%"]H%"I.FW."3H*:6(+'")H)"'Fb%-(L')K"5H%"+%)(/-%J&.+."%/"/'L(%*F&%"+%"

=887""%/"*%+('"+%"+()-H&F(')"(/-%&/')"["6H%J'"+%":&%)%/-.&"H/"(*:&%3()'"(/5'&*%"5(/.6!"D'"

3(%&-'"%)"]H%"/'"3H*:6(E"%/"6'".F)'6H-'"3'/")H"3'*%-(+'K"]H%"%&."%6"+%"66%L.&"bH)-(3(."."6')"

3.)')" +%" &%:&%)(E/" :'&" :.&-%" +%6" ,)-.+'!" X!"" a()0"+"# ,0# %W0,"?# #@" +%" *.&G'" +%# =887d"

58

0'/-%*.['&K"=8#8C"",6"&%:'&-%"%6.F'&.+'":'&"(/L%)-(J.+'&%)"+%"6."h,0QVii"5H%"5(6-&.+'"."

H/." .J%/3(." %)-.+'H/(+%/)%" [" )HF(+'" ." +(L%&)')" :'&-.6%)" +%" N/-%&/%-" )(/" I.F%&" )(+'"

-%&*(/.+'!"X0'/-%*.['&K"=8#84"=@?9=@;d"iaJ(/."j%F"+%"6."YJ%/3(."R(J(-.6"N/+%:%/+(%/-%"

+%"O'-(3(.)K"3'/)H6-.+."%6"@#"+%"'3-HF&%"+%"=88?C"0%)%)"+%):H1)K"6."h,0QVii"66.*E"."H/."

3'/5%&%/3(."+%":&%/)."["%6" (/5'&*%")%":&%)%/-E"[")%")HF(E"."6.":aJ(/."+%"6."i&'3H&.+H&W."

Z%/%&.6" +%" 6." P%:cF6(3." XiZPCK" +'/+%" :H+'" )%&" 3'/)H6-.+'" +H&./-%" .6Jc/" -(%*:'!" ,)-%"

(/5'&*%")%"-(-H6EK"%/"I'*%/.b%".6"]H%")%":&%:.&E"%/"Y&J%/-(/.")'F&%"6."&%:&%)(E/"+H&./-%"

6."c6-(*."+(3-.+H&.K"MQ5,#0(#75,%7"#"#-58,+,)OK2#,/"H/"+'3H*%/-'":&%)%/-.+'"%/"'3-HF&%"

+%6"=887K"+(L%&).)"QOZ".)%L%&.&'/K"%/"6'"]H%"&%):%3-."."6."(/L%)-(J.3(E/"I()-E&(3.K"]H%"^6."

5.6-."+%"3'/)H6-.":cF6(3."+H&./-%"6."%6.F'&.3(E/"+%6"(/5'&*%K"["6."5.6-."+%"&%3'/'3(*(%/-'"

:6%/'" +%6" *()*'" :'&" :.&-%" +%6" ,)-.+'" I." )(J/(5(3.+'" +%)6%J(-(*.&" %)-%" %)F'G'" +%"

%)36.&%3(*(%/-'"+%"6')"I%3I')_!"XT'*(-1"7;"%-".6!K"=8874"7#C"P').&('"NF.&&." 6."I."66.*.+'"

%/"L.&(.)"'3.)('/%)"^6."h()3.6W."+%"/'*F&%"6.&J'"[".63./3%)"3'&-')_K"[."]H%"/'")(&L(E"/(":.&."

+.&"."3'/'3%&"6')"3&W*%/%)"3'*%-(+')K"/(":.&."66%L.&"./-%"6."bH)-(3(."."6')"3H6:.F6%)"+%"6')"

*()*')!"XR%"y%33I("["ZE*%GK"=88;C"^O'")%":H%+%"bHJ.&"3'/"6."5./-.)W."+%"]H%"6."h()3.6W."[."

3H*:6(E"3'/")H":&':E)(-'"/("%/"%6"a&%."*(/()-%&(.6"/("%/"6."I()-E&(3."Ñ!!!Ö""%/"6')".&3I(L')"+%"

6."V%+%/.":H+(*')"%)-.F6%3%&"3'/%2(E/"+%";8"3.)')"+%"+%).:.&(3(E/"5'&G.+."%/"6')"]H%"%6"

:&':('"%b1&3(-'"&%:'&-."6.)"+%-%/3('/%)!_"X0'/-%*.['&K"#<<<4"=ABC""

" hH%&'/" L%(/-%" 6.)" E&+%/%)" +%" .:&%I%/)(E/" 66%L.+.)" ." 3.F'" J&.3(.)" .6" -&.F.b'" +%"

.L%&(JH.3(E/" +%" 6." 5()3.6W.!" V%" .F&(%&'/" +')" bH(3(')4" H/'K" :'&" %6" D5,7,-# +,# L()$5-# X#8" +%"

bH/('"+%"#<?#CK" ["'-&'":'&"%6" ="+%"'3-HF&%"+%"#<7;!" ,/"%6" :&(*%&'" 5H%&'/" bHGJ.+')K":'&"

^J%/'3(+('_K&DH()",3I%L%&&W.K"0.&('"0'[."i.6%/3(.K"0./H%6"RW.G",)3'F.&K"P.c6"0%/+('6%."

T%&%3%+'K" n.L(%&" RW.G" ,)3'F.&K" T./+%6.&('" 0.+%&." i.G" [" P.5.%6" R%6J.+'" P%[%)!" ,/" %6"

)%JH/+'K"-.*F(1/":'&"^J%/'3(+('_"[":'&"^:&(L.3(E/"(6%J.6"+%"6." 6(F%&-.+_K"DH()",3I%L%&&W.K"

nH6('" Va/3I%G" y.&J.)K" DH()" ZH-(1&&%G" Q&':%G.K" 0(JH%6" O.G.&" m.&'K" DH()" +%" 6." z.&&%+."

0'&%/'K" P.c6" 0%/+('6%." T%&%3%+'K" n.L(%&" yaG]H%G" h16(2" [" V.6L.+'&" +%6" $'&'" P').6%)!"

XT'*(-1"7;"%-".6!K"=887C"

"V(/"%*F.&J'K"c/(3.*%/-%" 5H%&'/"+%-%/(+')"%6"%2"+(&%3-'&"+%" 6.":'6(3W." bH+(3(.6"+%"

OH%L'"D%E/K"T.&6')"ZH-(1&&%G"V'6./."0.3W.)K"["%6"%2".J%/-%"nHL%/-(/'"P'*%&'K":'&"I.F%&"

59

:.&-(3(:.+'"%/" 6."+%-%/3(E/"+%" n%)c)"i(%+&." NF.&&." XI(b'"+%"P').&('" NF.&&.C!"O'"'F)-./-%K"

:'&"I.F%&)%")'F&%)%W+'")H"3.H).K"5H%&'/"6(F%&.+')"%/""*.['"+%"=887!"i'&"'-&'"6.+'K"+')"

)W*F'6')"+%"6.)"5H%&G.)":'6(3(.3.)K"%2"b%5%)"+%"6."R(&%33(E/"h%+%&.6"+%"V%JH&(+.+K"5H%&'/"6.)"

:&(*%&.)"3'/)(J/.3('/%)"]H%"6."5()3.6W.")'6(3(-E"%/"%6"=88@":'&"I.F%&":&(L.+'"+%")H"6(F%&-.+"

."n%)c)"i(%+&."NF.&&.4"0(JH%6"O.G.&"m.&'"["DH()"+%"6."z.&&%+."0'&%/'!",)-."3'/)(J/.3(E/"

5H%"&%3I.G.+.":'&"H/"bH%G":'&"I.F%&":&%)3&(-'"%6"+%6(-'!"XT.)-%66./')K"=88?d"Y66(%&K"=88<C"

" ,/"%6".`'"=88=K"5H%&'/"3H6:.+')"+%"/.&3'-&a5(3'""6')"J%/%&.6%)"0.&('"Y&-H&'"Y3')-."

TI.:.&&'" [" h&./3()3'" uH(&E)" m%&*')(66'!" V%" 6%)" .3H).F." " -.*F(1/" +%" -'&-H&.)K"

+%).:.&(3('/%)" [" +%" .&&'b.&" ." 3(%/-'" 3H.&%/-." [" 3H.-&'" :%&)'/.)" 9.)'3(.+.)" ." J&H:')"

JH%&&(66%&')" %/" ZH%&&%&'9" +%)+%" .L('/%)!" R%):H1)" +%" L.&(.)" (/L%)-(J.3('/%)" 5H%&'/" )E6'"

&%):'/).F(6(G.+')"+%"L(%/-(+E)"+%).:.&(3('/%)!"XT.)-%66./')K"=88?C""

" ,/" %6" =888K" 6." 5()3.6W." I(G'" 6." 3'/)(J/.3(E/" :'6W-(3."*a)" (*:'&-./-%4" )%" )'6(3(-E" 6."

.:&%I%/)(E/"+%"DH()",3I%L.&&W.K"%2":&%)(+%/-%" X#<?89#<?7CK" ["+%"L.&(')"*(6(-.&%)"+%".6-'"

&./J'K":'&")%&":&%)H/-')"3H6:.F6%)"+%"J%/'3(+('"%/" 6."*.-./G."+%"%)-H+(./-%)"+%6"#8"+%"

bH/('" +%" #<?#!" XY6JH/')" +%" 6')" " 3'/)(J/.+')4" 0.&('" 0'[." i.6%/3(.K" 6')" J%/%&.6%)" DH()"

ZH-(1&&%G"Q&':%G.K"]H%"5H%" b%5%"+%6",)-.+'"0.['&"i&%)(+%/3(.6"+%"ZH)-.L'"RW.G"Q&+.GK"["

0./H%6"RW.)",)3'F.&K" b%5%"+%" 6')"m.63'/%)"]H%" &%:&(*(%&'/"L('6%/-.*%/-%" 6."*.&3I."+%"

*.%)-&')"["%)-H+(./-%)C4"

""

9%# D5,=# ]5,# 8(0(8./# %"# 8"5-"?# "%# .45"%# ]5,# ,0# ,%# 8"-(# +,# %"# $).*,)"# 8(0-.40"8./0# +,# \"=")?# 0(#

,08(0&)/#,%,*,0&(-#$")"#4.)")#%"-#/)+,0,-#+,#"$),A,0-./0#8()),-$(0+.,0&,-2#L(*(#-,#,-$,)"6"?#%"#

b5$),*"#L()&,#+,#a5-&.8."#+,#%"#\"8./0#"&)"D(#,%#8"-(#"#*,+."+(-#+,#(8&56),#+,#Eff`2#tu#R%#'.0"%?#%"-#

"88.(0,-# +,# %"# '.-8"%W"# 0(# $)(8,+.,)(02# R# \"=")?# $()# -5# "7"0="+"# ,+"+?# -,# %,# +,8),&/# "))".4(#

+(*.8.%.").(#,0#0(7.,*6),#+,#Eff`#C# '5,#,<(0,)"+(#+,# &(+(#8")4(#,%#Zf#+,# -,$&.,*6),#+,#Effm?#

+,-$5;-# +,# ]5,# 50# D5,=# 0(# ,08(0&)")"# -5'.8.,0&,# ,7.+,08."# ]5,# .07(%58)")"# "%# $,)-(0"D,# 8(0#

+,-"$").8.(0,-#'()="+"-#+5)"0&,#%(-#"J(-#+,#%"#45,))"#-58."2#XT.)-%66./')K"=88?4"@=8C""Y6" 5(/.6" )%":H+'"+(3-.&" )%/-%/3(.":.&." %6" %2":&%)(+%/-%" DH()" ,3I%L%&&W.K" :%&'"%)-'":'&" %6"

3.)'" +%" " 6."*.-./G." +%6" =" +%" '3-HF&%!" V%" 6%" 3H6:E" +%" J%/'3(+('" [" )%" 6%" +%3&%-E" .&&.(J'"

+'*(3(6(.&('!"z.b'"6."bH)-(5(3.3(E/"+%")H"^.L./G.+."%+.+"["+%6(3.+.").6H+_K"1)-%"/H/3.":H)'"

H/":(%"%/"6."3a&3%6!"XT.)-%66./')K"=88?4"@=8C"

"

60

$'*./+'"%/"3H%/-."-'+'"6'"./-%&('&":'+&W."+%3(&)%"]H%K"%/"-1&*(/')"+%"bH)-(3(.K"/'")%"I."

I%3I'K":'&":.&-%"+%"6.)"(/)-(-H3('/%)"'5(3(.6%)"XJHF%&/.*%/-.6%)C"%/3.&J.+.)"+%"(*:.&-(&6.K"

/.+." &%6%L./-%" %/" 012(3'!" ,)-'" " :'+&W." %2:6(3.&)%" 3'/" .]H%66'" ]H%" " *%/3('/." T.&6')"

0'/-%*.['&4""

""

9%#:.0.-&,).(#VX6%.8(#,0#:;<.8(#-,#0.,4"#"#"6).)#"7,).45"8.(0,-#$),7."-#$()#+,-"$").8./0#'()="+"#+,#

$,)-(0"-# ")45*,0&"0+(#]5,# ,%%(# ,]5.7"%+)W"# "# %"# 8"%.'.8"8./0# "0&.8.$"+"#+,# 50# D5.8.(p# ,-&(# ,-?# %"#

+,-"$").8./0#'()="+"#+,#$,)-(0"-#-/%(#$(+)W"#-,)#),-5%&"+(#8(08%5-.7(#+,#50#$)(8,-(#D5+.8."%2#G"0&(#

%"#),-.-&,08."#*.0.-&,)."%#8(*(#,%#"$"),0&,#")45*,0&(#%,4"%#-(0#.0-(-&,0.6%,-2#b.#"-W#$)(8,+.,)"0#,0#

&(+(-#%(-#8"-(-#%"-#"5&().+"+,-#*,<.8"0"-#),-$(0-"6%,-#+,#%"#$)(85)"8./0#,#.*$")&.8./0#+,#D5-&.8."?#

0(#A"6)W"#$(-.6.%.+"+#"%450"#+,#.0.8.")#$)(8,-(-#%,4"%,-#,0#:;<.8(2"X0'/-%*.['&K"=8#84"=B@C""",/" H/" bH(3('" )(%*:&%" I.[" I(:E-%)()" 6%J.6%)" ." :&('&(K" [" :'&" %)'" )%" I.F6." +%" $),-50&(-#

3H6:.F6%)"./-%)"+%"H/.")%/-%/3(.!"^si'&"]H1"%/"%6"3.)'"+%"6.":&%)H/3(E/"+%"+%).:.&(3(E/"

5'&G.+." +%" :%&)'/.)" /'" )%" -&.-.&W." +%" H/." I(:E-%)()" 6%J.6K" )(/'" +%" H/." ./-(3(:.3(E/" +%"

)%/-%/3(.t" i'&]H%" 6." &%)()-%/3(." ." .3%:-.&" 6." :&%)H/3(E/" +%" +%).:.&(3(E/" 5'&G.+." +%"

:%&)'/.)"+%&(L.K"/'"%)"+%"&.G'/%)"bH&W+(3.)K")(/'":'6W-(3.)!"Y3%:-.&"%).":&%)H/3(E/"bH&W+(3."

%)"H/".)H/-'"+%"+%3()(E/":'6W-(3.!_"X0'/-%*.['&K"=8#84"=BBC"

"

,6"J'F(%&/'"*%2(3./'"/'"I."%)-.+'"/("%)-a"+():H%)-'"."-'*.&"%)-."+%3()(E/":'6W-(3.!"$./-'"

6.)" JH%&&(66.)@B" 3'*'" 6.)" +%).:.&(3('/%)" )(JH%/" )(%/+'" H/." &%.6(+.+" L(J%/-%" %/" /H%)-&'"

:.W)!" D')" 3&W*%/%)" +%" ,)-.+'" )(JH%/" (*:H/%)!" $.*F(1/" 6')" %5%3-')" +%" %)-.)" *%+(+.)"

&%:&%)(L.)" )(JH%/" )(%/+'" H/." &%.6(+.+" +%6" :&%)%/-%" :.&." -'+')" 6')" 5.*(6(.&%)!" ^D."

+%).:.&(3(E/"/'"%)"H/"I%3I'"+%6":.).+'K"%6"+'6'&")(JH%"L(J%/-%_X!"#a()0"+"#,0#%W0,"?##?"+%"

+(3(%*F&%" +%" =88<C@A4" %)-." .)%L%&.3(E/" %)" H/." +%" 6.)" 3'/)-./-%)" %/" 6')" +()3H&)')" +%"

5.*(6(.&%)"+%"+%).:.&%3(+')!""

"

sTHa6"%)"6."I()-'&(."+%"%)-')"5.*(6(.&%)t"sY"]H1")%"%/5&%/-./t"Y+%/-&.&/')"."%)-')"*H/+')"

+%"L(+.":.&-(3H6.&%)K"."%)-.)"I()-'&(.)":'3'"3'/'3(+.)K"%6"3'/'3%&"3E*'"%&./K"3E*'"5H%&'/"

@B" Q&J./(G.3('/%)"3'*'"%6",b1&3(-'"Ä.:.-()-."+%"D(F%&.3(E/"O.3('/.6"["%6",b1&3(-'"i':H6.&"P%L'6H3('/.&('K".

:%).&"+%")H)"%)3()('/%)K")%"*./-(%/%/".3-(L.)!"@A" ,/"3'/5%&%/3(.K"h.*(6(.&%)"+%"P')%/+'"P.+(66."i.3I%3'K"+%-%/(+'"["+%).:.&%3(+'":'&"*(6(-.&%)"%/"#<?B"

%/"H/"&%-1/K"%/"Y-'[.3"+%"r6L.&%GK"TI(6:./3(/J'!"

61

*'+(5(3.+')" [" 3E*'" I./" )(+'" &%3'/)-&H(+')" %)-')" *H/+'" +%" L(+." X3'/" ]H1" %6%*%/-')"

*.-%&(.6%)"[")(*FE6(3')CK"["3Ha6"%)"6."L(/3H6.3(E/"+%"6.)"I()-'&(.)":%&)'/.6%)"+%"1)-')"3'/")H"

':3(E/" +%" :.&-(3(:.&" %/" H/." '&J./(G.3(E/" +%" 5.*(6(.&%)" +%).:.&%3(+')K" %)" 6'" ]H%" )%"

:&%-%/+%".F'&+.&"%/"6')")(JH(%/-%)"3.:W-H6')!""

62

"

"

TYiÅ$SDQ"=""

,6"*H/+'"+%"L(+.""0&,-"+%"6."+%).:.&(3(E/""

"

i.&."3'*:&%/+%&"%6"3'/-%2-'"+%"%)-.)"*Hb%&%)"[" 6.)"3'/+(3('/%)"%/" 6.)"]H%")H":')-%&('&"

:.&-(3(:.3(E/" :'6W-(3." )H&J(EK" .]H%66.)" 3'/+(3('/%)" ]H%" 6." %6(3(-.&'/K" ]H%" 6." 5.3(6(-.&'/" ["

.]H%66.)"]H%" 6."+(5(3H6-.&'/K"%)":%&-(/%/-%".3%&3.&/')".")H)"I()-'&(.)":%&)'/.6%)" X=!#C"["."

)H)"5.*(6(.)"X=!=C!""

,/"%6"3.)'":.&-(3H6.&"+%" 6.)"^+'`.)_"]H%")%"%/-&%L()-.&'/"%/"%)-%"-&.F.b'"L.6+&W." 6."

:%/." " 3'/'3%&" [" %2:'/%&" F&%L%*%/-%" )H)" " I()-'&(.)" (/+(L(+H.6%)K" ]H%" )'/" -.*F(1/" 6.)"

I()-'&(.)" +%" H/.)" I(b.)" [" H/" I%&*./'" +%).:.&%3(+')" X=!#Cd" 3'/-%2-H.6(G.&" F&%L%*%/-%"

]H(1/%)")'/"Y3%6.K"P%[/."["Y(3%6.K"+%"+E/+%"%)"]H%")H&J%/"["+%)+%"+E/+%")%"3'/)-&H[%/"."

)W"*()*.)"3'*'"*(%*F&')"+%6"T'*(-1"o,H&%p.qd""%/-%/+%&"]H(1/%)")'/K"]H1"-(:'"+%"&'6"["

6HJ.&" '3H:.&'/" [" '3H:./" +%/-&'" +%" 6." 5.*(6(.d" +%" ]H1" 5'&*." 5H%&'/" )'3(.6(G.+.)"

J%/1&(3.*%/-%"+%/-&'"+%")H)"5.*(6(.)"+%"'&(J%/K"3Ha6%)"%&./")H)".):(&.3('/%)K"3Ha6%)")H)"

:&'[%3-')K")H)"+%F%&%)K":&('&(+.+%)K"(/-%&%)%)K"'F6(J.3('/%)!!!"./-%)"+%"6."+%).:.&(3(E/"+%"

)H)"5.*(6(.&%)"X=!=C!",)-'":'+&W.".[H+.&/')"."%/-%/+%&"3E*'")%"L(/3H6.")H":.&-(3(:.3(E/"%/"

%6"T'*(-1"o,H&%p.qK"6."Fc)]H%+."+%")H)"5.*(6(.&%)K"["-.*F(1/"6.)"-%/)('/%)")H&J(+.)".":.&-(&"

+%"1)-.!"

63

-'. /0$%&12)3!%4&,$5&6)7+#8&9:;0$<!=>&?@;+8"$%&%)"&A($5!B&C$D"!&D&A+($5!E&

##

T'*'" F(%/" +(3%" ,6(G.F%-I" 0.(%&" %/" )H" -&.F.b'" :&%3().*%/-%" .3%&3." +%" *(%*F&')" +%6"

T'*(-1" o,H&%p.qK" ^6." 3.&.3-%&W)-(3."*a)" I'*'J1/%." +%" 6.)"*.+&%)" +%" +%).:.&%3(+')" %/"

012(3'"%)")H"+(L%&)(+.+!"Q&(H/+.)"+%"6.)"a&%.)"&H&.6%)"["+%"6.)"3(H+.+%)K"(/*(J&./-%)"."6.)"

H&F%)"'"I.F(-./-%)"+%"6%b./'K"["%/"3(%&-')"3.)')K"&%6.-(L.*%/-%"(/3'*H/(3.+')9:H%F6')"+%"

V(%&&.)" +%"ZH%&&%&'" [" TI(IH.IH.!"0Hb%&%)" (/+WJ%/.)" ["*%)-(G.)" +%" 5.*(6(.)" 3.*:%)(/.)K"

:&'6%-.&(.)K" 3'*%&3(./-%)" [" :&'5%)('/()-.)K" :'F&%)K" .3'*'+.+.)" +%" 6')" )%3-'&%)"*%+(')K"

3H[.)" *.+&%)9" -'+.)9" )%" +%+(3.&'/" ." 6')" '5(3(')" +%" 6." 3.)." [" ." 6." 3&(./G." +%" /(`')"

%236H)(L.*%/-%!" V(/" /(/Jc/" /(L%6" +%" %)-H+(')" 5'&*.6%)K" 3'/" .6JH/')" .`')" +%" 6." :&(*.&(."

3H&).+')K"3'/"%)-H+(')"3'*:6%-')"+%" 6.")%3H/+.&(."'" 6.":&%:.&.-'&(."-%&*(/.+.!_"X0.(%&K"

=88#4"#B#C"

,/" %)-')" @" 3.)')" :.&-(3H6.&%)K" .H/]H%" )W" I.[" 36.&.)" +(5%&%/3(.)K" %2()-%/" -.*F(1/"

5H%&-%)"3'(/3(+%/3(.)4")%"-&.-."+%"*Hb%&%)":&'L%/(%/-%)"+%"G'/.)"&H&.6%)"]H%K"%/"+()-(/-')"

*'*%/-')"+%")H)"L(+.)"[":'&"+()-(/-.)"&.G'/%)K"*(J&.&'/"." 6."3(H+.+"+%"012(3'!"R%"H/."

5'&*." *H[" J%/%&.6(G.+.K" )(/" %/-&.&" %/" %):%3(5(3(+.+%)K" :'+&W.*')" +%3(&" ]H%" )'/K" :'&"

-./-'K"3&(.+.)"%/"%6")%/'"+%"5.*(6(.)"-&.+(3('/.6%)"+%"'&(J%/"&H&.6!""

&

64

2)3!&C$D"!&F!"#+!G)&C),0HG;$I&&

I,-+,#Fimf#*,#7.0,#"]5W#"#:;<.8(2#t1u#:,#7.0,#+,#*.#&.,))"2#x(#-(C#+,%#,-&"+(#+,#q"<"8"2#RAW#

,-&57,#8(0#*.-#$"+),-?#+,-$5;-#C"#*,#8"-;1#C#*,#7.0,#$")"#"8Y2#t1u#L.085,0&"#"J(-2#x#+,#"AW1#

$5,-#C"#&57,##*.-#A.D(-2#x#%"#]5,#*,#'"%&"?#j)*"?#,-?#,-&,1#t1u#,%%"#,-#%"#85")&"?#,-#%"#85")&"#A.D"2#Q5,#

%"#&)"D,#8A.8"?#+,#+(-#"J(-2"XP%[/.K"=8#8C""Y)W")%":&%)%/-."#6NC&(3I7C!"Y3-H.6*%/-%"-(%/%";8".`')"+%"%+.+@7"X/.3(+.".":&(/3(:(')"+%"

6')".`')"@8C!"O.3(E"["3&%3(E"%/"%6"0H/(3(:('"'.2.]H%`'"+%"V./"h&./3()3'"OH2.`'"XR()-&(-'"

+%"O'3I(2-6./CK"%/"%6")%/'"+%"H/."5.*(6(."3.*:%)(/."*H["IH*(6+%d"+%":.+&%"3.*:%)(/'"["

*.+&%" +%+(3.+." .6" I'J.&!" hH%" 6." ]H(/-." +%" )(%-%" I%&*./')K" *H&(%/+'" %6" c/(3'" I(b'K" %6"

*%/'&K".6".`'"+%"%+.+K"["-&%)"+%")H)"I%&*./.)":')-%&('&*%/-%!"$HL'"H/." (/5./3(."+(5W3(6"

+%" *H3I." :'F&%G." [" +%" *H3I'" -&.F.b'K" 'F6(J.3('/%)" [" J&./+%)" &%):'/).F(6(+.+%)4"

:.&-(3(:.F." %/" 6.)" 6.F'&%)" +'*1)-(3.)" X%2(J%/3(." :'&" :.&-%" +%" H/." *.+&%" %)-&(3-." ]H%"

66%J.F."."J'6:%.&"." 6.)"I(b.)"+%"/'"3H*:6(&" )H)"+%F%&%)".+%3H.+.*%/-%C"[".[H+.F.".")H"

:.+&%"%/"%6"3.*:'"["3'/"6')"./(*.6%)!"TH&)EK":.&.6%6.*%/-%K"I.)-."%6"7á".`'"+%"i&(*.&(."

%/")H":H%F6'K"-%&*(/./+'".:&'2(*.+.*%/-%"."6')"#7".`')"+%"%+.+!"hH%"%/-'/3%)"]H%")H"

.3-H.6" *.&(+'" \'&(H/+'" +%" )H" *()*'" :H%F6'9" 6%" :(+(E" *.-&(*'/('" [" )%" 3.)E!" hH%" H/"

*.-&(*'/('".&&%J6.+'":'&"6')":.+&%)!"VH"*.&(+'K"+%)+%"%6":&(/3(:('K"-HL'":&'F6%*.)"3'/"%6"

.63'I'6!"N/*%+(.-.*%/-%"+%):H1)"+%"3.).&)%K"P%[/.")%"%*F.&.GE"[K"%/"%6"6.:)'"%/-&%"6')"

#;" [" 6')" B8" .`')K" -HL'"<"I(b')" X%/":&'*%+('" -%/W."H/"I(b'" 3.+."+')" .`')C!" D')":&(*%&')"

3H.-&'"/.3(+')"%/"Q.2.3.K"6')"+%*a)"H/."L%G"]H%")%"*H+.&'/".6"R()-&(-'"h%+%&.6K"]H%"5H%"

%/"%6".`'"+%"#<78!"D."+%3()(E/K":'&":.&-%"+%")H"*.&(+'K"+%"*(J&.&"."6."T.:(-.6")%"+%F(E"."6."

L('6%/3(.":'&"3'/56(3-')"%/-&%")H":H%F6'"["H/":H%F6'"L%3(/'"X:'&"H/')"-%&&(-'&(')C!"Y+%*a)"

+%" 6." .*%/.G." 3'/)-./-%" [" 6." L('6%/3(." 3'-(+(./." X*H3I')" *H%&-')CK" %)-%" 3'/56(3-'"

%*:'F&%3(E" ." 6." 3'*H/(+.+" [K" :.&.6%6.*%/-%K" 6.)" 3'/+(3('/%)" +%" 6.)" -(%&&.)" /'" %&./"

5.L'&.F6%)!"

#:58A"#4,0&,#-,#7.0(#$"y"8Y?#C#;%#Ñ)H"*.&(+'Ö#&"*6.;0#+.D(#H$5,-#7Y*(0(-#$"y#:;<.8(2#V()]5,#$5,-#

"]5W#%"#8(-,8A"#0(#-,#+"?#C#A"C#*58A(-#*5,)&(-K2#XP%[/.K"=8#8C##

@7"Y6"*'*%/-'"+%"6."%/-&%L()-."-%/W."?;".`')"+%"%+.+!""

65

,/" 6."T.:(-.6"P%[/." )%"%/5&%/-E"."/H%L.)"+(5(3H6-.+%)" X6'"+%)3'/'3(+'K" 6."+(/a*(3."+%" 6."

3(H+.+" )(/" &%+%)" 5.*(6(.&%)" /(" )'3(.6%)" ." 6."*./'K" ." 3.&J'" +%" B" I(b')" :%]H%`')" [" )(/" %6"

.:'['" +%" )H"*.&(+'CK" [" ." '-&.)" :&%L(.*%/-%" %2()-%/-%)" ]H%" /'" 3.*F(.&'/" +%6" -'+'4" 6."

L('6%/3(." +%6" *.&(+'" 3H./+'" F%FW." [" 6')" 3'/)-./-%)" :&'F6%*.)" %3'/E*(3')!" VH" *.&(+'"

-HL'"H/"-&.F.b'"%/"H/."5aF&(3."]H%"+H&E"c/(3.*%/-%"-&%)".`')!"R%bE"%6"-&.F.b'"X^)%")%/-W."

*.6_C"["[."/'"]H()'"L'6L%&"."-&.F.b.&!"V%"+%+(3E".6":%]H%`'"3'*%&3('".*FH6./-%"XL%/+W."

5&H-.K"&.):.+')K"3I(3I.&&'/%)>C"["*a)".+%6./-%":H)'")H"-(%/+."+%".F.&&'-%)"X]H%"3'/)%&L."

I.)-." 6." 5%3I.C!"P%[/.")(%*:&%":.&-(3(:E"["3'6.F'&E" -./-'"%/" 6')"/%J'3(')"+%")H"%):')'K"

3'*'"%/"6.)" 6.F'&%)"+%6"I'J.&!"Y+%*a)"+%"%)-.&")(%*:&%"%66.")'6."."3.&J'"+%"6')"<"I(b')!"

Y3-H.6*%/-%" L%/+%" :&'+H3-')" 3')*1-(3')" X:'&" 3.-a6'J'C" +%" :H%&-." %/" :H%&-." [" %/" )H)"

3W&3H6')")'3(.6%)"X(J6%)(.K"L%3(/+.+K"%-3!C!"

"

m.F6./+'"+%"3E*'"%&.")H"L(+."%/"%6":H%F6'"[":')-%&('&*%/-%"%/"6."3(H+.+K"*%/3('/.4"

#

#S>#V5,-#+W"-#65,0(-?#+W"-#*"%(-?#$()]5,#;%#&(*"6"?#&"*6.;0?#*58A(2#t1u#x#$5,-#C(#"4"))"6"#"#*.-#

A.D(-#C#*,#.6"2#t1u#85"0+(#;%#-,#,0(D"6"#t1u#x#"%%Y#;%#%%,4"6"#"#+,8.)#]5,#0(#%(#7(%7W"#A"8,)#C#$5,-#

t1u#%(#7(%7W"#"#A"8,)#t222u#x#$5,-#-W#-,#6"&"%%"#*58A(2#PV()#]5;T#V()]5,#%"#8"),08."#,-#*Y-#$()#"%%Y#

&"*6.;02# x# C"# ]5,# 0(-# 7.0.*(-# $()# "8Y?# $5,-# ,-&,222# .45"%222# V5,-# ;%# 0(# &57(# &)"6"D(1# 0"+"#*Y-#

8(*(#&),-#"J(-#,0#50"#'Y6).8"2#

#

S># 1# ,%# *").+(# 85"0+(# 0(# &(*"6"?# $5,-# ,-&Y6"*(-# 6.,0?# C# 85"0+(# %"# 6())"8A,)"?# A"6W"#

+.-85-.(0,-2# \(# %,# +.4(# ]5,# 0(2# V5,-# C(# ,)"# %"# ]5,# *,# "&,0+W"# 8(0# *.-# A.D(-2# t1u# l%# 0(# -,#

$),(85$"6"2"XP%[/.K"=8#8C#"Y6":&%JH/-.&6%".3%&3."+%")H"66%J.+.".6"R!h!4"#

S># V5,-# $,-"+(?# P,AT# PV()# ]5;T# V()]5,222# 'WD,-,# ]5,# "%# %%,4")# 50(?# $5,-222# 8(*(# %,# +.4(?# *58A"#

$(6),="2#t1ux(#0(#-"6W"#*(7,)#%"#%.85"+()"2#\.#,%#&,%;'(0(2#t222u#RA()"#-W#]5,#0(#-,#(W"#A"6%")#]5,#

7"-#"#:;<.8(#C#]5,#A"C#&,%;'(0(?#C#]5,#%.85"+()"#C#]5,#%5=222#\(2#V,)(#$5,-#-W?#65,0(?#"#*W#*,#8(-&/#

50#$(8(#+,#&)"6"D(2#t222u#x(#),0,4"6"#*58A(?#P,AT#:,#]5,)W"#),4),-")2#V,)(#C"?#$(8(#"#$(8(?#*.-#

A.D(-# -,# '5,)(0# 8)."0+(# "]5W2# 9-&"6"0# ,0# %"# ,-85,%"# C# C"# %,# "4"));# "%#*(+(# C# C"222# t222u# A"8W"# %"-#

&()&.%%"-2#t222u#x#0(?#C"#*Y-#(#*,0(-#*,#t"+"$&;u22!"XP%[/.K"=8#8C""P%[/." [" )H" *.&(+'" -HL(%&'/" ?" I(b.)" [" +')" L.&'/%)!" i'3')" +%" %66')" +%3(+(%&'/" %)-H+(.&!"

$'+')"-&.F.b./"%/"6.".3-H.6(+.+!"D."I(b."*.['&"%/"6."LR\q\d"6.")%JH/+."I(b."%)"3')-H&%&.d"

%6" -%&3%&'" -&.F.b." I.3(%/+'" 66./-.)d" N&*.K" 6." I(b." +%).:.&%3(+.K" %)-H+(E" %/" 6." ,)3H%6."

66

O'&*.6"i':H6.&"["-&.F.bE"-.*F(1/"3'*'"3')-H&%&.d"6."]H(/-."I(b."%)-H+(E":.&.")%&"%)-(6()-."

[".3-H.6*%/-%"-(%/%"H/.":.:%6%&W."X%/"%6"*()*'"-%&&%/'"+'/+%"L(L%/"%66."[")H)":.+&%)Cd"6."

)(JH(%/-%"+%"6.)"I%&*./.)")%"+%+(3E".")%&"*.%)-&."+%"/(L%6"Fa)(3'd" 6."./-%:%/c6-(*."I(b."

/.3(E"3'/":&'F6%*.)"+%".:&%/+(G.b%"["+%"6%/JH.b%"[".3-H.6*%/-%"6%".[H+."."P%[/."X%)")H"

3'/)-./-%" 3'*:.`W.C" ." L%/+%&" 3')*1-(3')" X&%:.&-(%/+'" [" 3'F&./+'Cd" %6" *%/'&" +%" 6')"

L.&'/%)"%)-H+(E"6."%+H3.3(E/"Fa)(3."["-&.F.b."%/"H/."%*:&%).!"i'&"c6-(*'K"6."*a)":%]H%`."

+%"-'+')"6')"I(b')")%"]H%+E"3'/"6."-(%/+."+%".F.&&'-%)"(/(3(.6*%/-%"+%6":.:a"X-.*F(1/"%/"

%6"*()*'"-%&&%/'"+%"6.".3-H.6"3.).C!"

"

J07!&K)5!",!&60;I&F!"#+!G)K"6."3H.&-."I(b.K"/.3(E"%/"#<A?K"%/"Q.2.3.!"D6%JE"."6."T(H+.+"+%"

012(3'" ." 6')" =" .`')" +%" %+.+!" Y6" -%&*(/.&" 6." )%3H/+.&(." (/-%/-E" (/J&%).&" ." 6." ,)3H%6."

O'&*.6" XVH:%&('&" +%" 012(3'K" ,!O!V!0!C!" Y6" /'" :.).&" %6" %2.*%/" +%" .+*()(E/K" ':-E" :'&"

%)-H+(.&"%/" 6.",)3H%6."O'&*.6"i':H6.&!"YIW"3'/'3(E"." 6."]H%"*a)".+%6./-%"5H%")H":.&%b.K"

0.2(*(/'" X.6(.)"0./H%6CK" bH/-'" 3'/" %6" 3H.6" :')-%&('&*%/-%" +%3(+(E" (&)%" ." L(L(&" 9." 6')" #;"

.`')9K" ." :%).&" +%" )H)" :.+&%)!" V(/" %*F.&J'K" .H/" 3'/" )H" :.&%b.K" )(JH(E" ]H%+a/+')%" :'&"

-%*:'&.+.)"\+H&./-%"H/".`'9"%/"3.)."+%")H)":.+&%)!"P%[/."/'").F%"%2.3-.*%/-%"+E/+%K"

:%&'").FW."]H%"N&*."+.F."36.)%)".".+H6-')"["/(`')"%/"T+!"O%G.IH.63'['-6!"i.&.6%6.*%/-%"

N&*."%)-H+(E"3'&-%"["3'/5%33(E/"["-&.F.b.F."%/"H/."5aF&(3.K"bH/-'"3'/")H"I%&*./."*.['&"

X6.")%JH/+.C!""

S/""#á"+%"bH/('"+%"#<??K"%)-."c6-(*.K"3.*(/'".")H"-&.F.b'K""5H%"+%-%/(+.":'&"H/')"

I'*F&%)"\+%"6."z&(J.+."z6./3."X3H%&:'"*(6(-.&C9"K"]H%"6."3'/5H/+(%&'/"3'/"N&*.K"[")HF(+."."

H/."3.*('/%-."]H%"6."-&.)6.+EK"3'/"6')"'b')"L%/+.+')K"."H/"3H.&-'"+'/+%"5H%"-'&-H&.+.!"Y6"

+.&)%"3H%/-."+%"6."3'/5H)(E/"6%":(+(%&'/"(+%/-(5(3.&"%/"5'-'".")H"I%&*./."[".")H"3H`.+'"["

6%" %2-&.b%&'/" (/5'&*.3(E/" )'F&%" )H" 5.*(6(.!"R%):H1)"+%"*a)"+%"#="I'&.)"+%" &%36H)(E/" 6."

+%b.&'/"6(F&%K"/'")(/"5H%&-%)".*%/.G.)"+%":'&"*%+('4"H-.#0(#0(-#+.8,-#%"#7,)+"+#+,#"#+/0+,#

,-&Y#&5#A,)*"0"?#7"*(-#"#&5#8"-"#"#&)",)#"#&5#A.D(?#"#&5-#A,)*"0(-#C#0(-#7"*(-#"#,8A")#

"8,.&,#,0#,%#"45"K"XP%[/.K"=8#8C!"Y"N&*."9]H%"-%/W."#<".`')"+%"%+.+9"[."/'"6."L'6L(%&'/"."

L%&!"$.*:'3'".")H":.&%b.!"m.["+.-')"]H%"(/+(3./"]H%"1)-%"5H%"+%-%/(+'"%/"ZH.+.6.b.&.K"%/"

%6"F.6/%.&('"D."TI.:.6(-.K":'&".J%/-%)"+%"6."i'6(3W."nH+(3(.6"+%6",)-.+'!",/"6."&%L()-."R%")*"K"

67

.J')-'"+%"#<??")%":HF6(3E")H"+%-%/3(E/!"R%"N&*."/'"%2()-%"I'["+W."/(/JH/."(/5'&*.3(E/"+%"

%)-%"-(:'!"V%":&%)H*%"]H%".*F')"5'&*.F./":.&-%"+%"6."D(J."T'*H/()-."=@"+%"V%:-(%*F&%K"

["]H%":&'F.F6%*%/-%")H"6.F'&"%&."+%"+(5H)(E/"[":&':.J./+.!"XiaJ(/."j%F"kR%).:.&%3(+')"

+%"012(3'l@?K"3'/)H6-.+."%6"@8"+%"/'L(%*F&%"+%"=8#8d"F.)%"+%"+.-')"+%m!N!n!Q!V!K"P%[/.K"

=8#8C"

#x#"4"))")(0#(&)"#+,#*.-#A.D"-?#%"#4)"0+,?#%"#*"C()2t1u#C"#%%,4"0+(#"AW#"#+(0+,#$"-"0#%(-#8"*.(0,-?#

,%%"# ]5.-(# -56.)-,# C# ,%%(-# '5,)(0# C# %"# D"%")(02# t222u# b,# 8(0'50+.,)(02# x"# %,# ,*$,=")(0# "# $,4")?# %,#

,*$,=")(0# "# +,8.)# ]5,# -.# ,)"# j)*"2# x# %,-# +.D(# ,%%"# H\(?# C(# 0(2# 9-#*.# A,)*"0"?# $,)(# C(# 0(# -(C2K#

t6),7,#.0&,))5$8./0ux#"-W#,*$,=/#%"#A.-&()."#+,#%"#+,-"$").8./0#+,#*.#A.D"2#x#C"#%"#,*$,8;#"#65-8")?#

$5,-#,0#&(+"-#$")&,-?#,0#&(+(-#%(-222#$()#,D,*$%(?#,0#&(+"-#$")&,-#+,#%"-#8Y)8,%,-?#(#8(*(#-,#%%"*,0?#

$,)(#0(?#0"+"2#x#,0#,-,#*.-*(#"J(#A"6W"#50#$,)./+.8(#]5,#,)"#,%#R%,)&"?#C#"AW#-"%./#-5#8(*$"J,)(2#

V,)(#,%%"?#D"*Y-?#0(222#0(#-,#-5$(#+,#,%%"2#j6"#"#%"#8Y)8,%#+,#*5D,),-#,0#,%#\()&,?#,0#,%#q).,0&,?#$()#

+(0+,#C(#*,#+,8W"0?#*,#.6"#C(2#V,)(222#90&)"6"?#$,)(#0(2#x"#0(#"$"),8./#$()#0.04X0#%"+(2#9-(#$"-/#

,0#Fiee2#t1u##9%%"#+,-"$"),8./#,%#$).*,)(#+,#D50.(#+,#Fiee2"XP%[/.K"=8#8C""

P%[/." )%" +%+(3E" ." FH)3.&" ." )H" I(b." %66." )'6." XFc)]H%+." 5W)(3." [" :%&)'/.6K" &%3'&&(%/+'"

3a&3%6%)" %/" +()-(/-')" 6HJ.&%)" +%" 6." P%:cF66(3.CK" +%)+%" %6" .`'" +%" )H" +%).:.&(3(E/K" I.)-."

#<;BK".`'"%/"]H%"3'/'3(E"."P').&('"NF.&&."+%"i(%+&."[")%"(/3'&:'&E".6"T'*(-1"o,H&%p.qK"%/"

%)%" %/-'/3%)" 66.*.+'" T'*(-1" O.3('/.6" :&'" R%5%/)." +%" i&%)')K" i%&)%JH(+')K"

R%).:.&%3(+')"[",2(6(.+')"i'6W-(3')" XTOiRiiR,iCK"]H%" 66.*."P%[/."%/"H/."%/-&%L()-."^6."

6H3I."+%"P').&('_4"""

"

!>#Px#8(*(#85Y0&(#&.,*$(#'5,#,-&(#+,#]5,#"0+57(#65-8"0+(#,0#%"-#8Y)8,%,-T#

#

S>#I,%#ee?#eg?#ei?#gf2#\(#+.").(?#t222u#+,#7,=#,0#85"0+(2#x#C"#,0#,%#g`?#85"0+(#C"#,-&"6"#,%#L(*.&;#8(0#

S(-").(?#$5,-#C"#*,#.08()$();2#bW?#'5,)(0#50(-222#8(*(#8.08(?#-,.-#"J(-2#XP%[/.K"=8#8C""

m'[" %/" +W.?& ." )H)" 3.)(" ;8" .`')" +%" %+.+K" )(JH%" 3'/)(+%&a/+')%" *(%*F&'" +%6" T'*(-1"

o,H&%p.qK" [" &.&."%)" 6."L%G"]H%" 5.6-."." 6."V")"+"#:,0-5"%,-# '),0&,#"# %"#b5$),*"#L()&,#+,#

@?""N/5'&*.3(E/"'F-%/(+."+%4" 6." D()-."+%"+%).:.&%3(+')":'6W-(3')"+%"012(3'"+%"#<7;"."#<;A"%6.F'&.+."3'/"

*.-%&(.6%)"+%6"T'*(-1"O.3('/.6"i&'"R%5%/)."+%"i&%)')K"i%&)%JH(+')K"R%).:.&%3(+')"[",2(6(.+')"i'6W-(3')"+%" 012(3'K" YhYR,09h,R,hY0K" +%" %2:%+(%/-%)" +%" 6." R(&%33(E/" h%+%&.6" +%" V%JH&(+.+" [" R(&%33(E/" +%"N/L%)-(J.3('/%)"i'6W-(3.)"["V'3(.6%)K"N/5'&*%)"+%"6."TORmK"+%"6."h,0QViiK":%&(E+(3')K"%/-&%L()-.)"["'-&')"*.-%&(.6%)!""

68

a5-&.8."#+,#%"#\"8./0#"]H%K"[."+%)+%"%6""=88;K"3'/L'3."6."'&J./(G.3(E/"m!N!n!Q!V!9012(3'"%/"

3'/bH/-'" 3'/" %6" T'*(-1K" %/" +'/+%" )%" &%3H%&+." [" )%" %2(J%" 6." :&%)%/-.3(E/" +%" 6')"

+%).:.&%3(+')"+%6"*%)"%/"3H&)'!&

69

&2)3!&A($5!&L(!3!&M)0!5$%&"

#bW?#50"#7.+"#*5C#6(0.&"?#*5C#+.',),0&,2#x#),"%*,0&,#,)"#50"#4,0&,#*5C222#*5C#.0(8,0&,2#\(#A"6W"?#

$5,-222#8(-"-#*"%"-?#+.4(#C(?#8(*(#"A()"2#G"0&"#$,)7,)-.+"+#C#&"0&"#8(-"?#P0(T#^0"#8(-"#*5C#

6(0.&"2#XY3%6.K"=8#8C#&

2)3!&A($5!&L(!3!&M)0!5$%#+%5(/%".)W")H"(/5./3(."[")H"L(+."%/")H":H%F6'"+%"'&(J%/!",)"6."

)%JH/+."+%"H/."5.*(6(."+%"3(/3'"I%&*./')d"/.3%"%/"$6.6:Hb.IH.K"*H/(3(:('"+%"0(3I'.3a/"

+%+(3.+'".6"3.*:'K"."6."J./.+%&W."["*(/%&W."X."5(/.6%)"+%"6')".`')"@8CK"%/"%6")%/'"+%"H/."

5.*(6(.",<&,0-"" "*%2(3./.!"D6%LE"H/."L(+.".H)-%&."["+%":'3')"&%3H&)')"%3'/E*(3')K":%&'"

/'" )H5&(E" +%" 3.&%/3(.)"*.-%&(.6%)" )(J/(5(3.-(L.)!" V%" 3&(E" )'F&%" -'+'" 3'/" )H"*.+&%" [" )H)"

.FH%6')":.-%&/')K":&(*%&'K" [" 6')" .FH%6')"*.-%&/')"+%):H1)K"I.F(%/+'" )H":.+&%"*H%&-'"

X.)%)(/.+'" %/" *%+('" +%" H/." :%6%." ]H%" (/-%/-E" *(-(J.&K" )(%/+'" 16" ^3'*().&('_C" 3H./+'"

Y3%6."-%/W.".:%/.)"?".`')!"VH"*.+&%K"*'6%/+%&."+%"/(2-.*.6"3'/"3(/3'"I(b')"."6')"3H.6%)"

*./-%/%&" )'6." .6" ]H%+.&" L(H+.K" )%" L%"'F6(J.+." ." ).6(&" +%" )H":H%F6'" ." FH)3.&" -&.F.b'!" ,)"

&%3'*%/+.+." :.&." -&.F.b.&" 3'*'" -&.F.b.+'&." +'*1)-(3." %/" H/." 3.)." :.&-(3H6.&" %/" 6."

T(H+.+"+%"012(3'!"D')"-&%)"I(b')"*a)"J&./+%)K"%/-&%"%66')"Y3%6.K")%"]H%+./"%/"%6":H%F6'".6"

3H(+.+'" +%" 6')" .FH%6')" *.-%&/')" X6." .FH%6." +%+(3.+." .6" I'J.&K" %6" .FH%6'" 3.:'&.6C!" VH"

*.+&%")%"66%L."."6')"+')"*a)":%]H%`')"3'/"%66.4"

"

R>#9-#]5,#,%%"#,)"#*(%,0+,)"2#9%%"# &)"6"D"6"#,0# %(-#*(%.0(-#+,#0.<&"*"%2t222u#V,)(#$5,-#,)"#+.'W8.%#

$")"#,%%"?#C#),"%*,0&,222#$5,-#0(-(&)(-#;)"*(-#7").(-?#C#0(#%,#"%8"0="6"#$")"222#$")"#$(+,)0(-222#

#

!>#222#*"0&,0,)#"#&(+(-2#

#

R>#tL5"0+(#-"%./#+,#:.8A("8Y0#$")"#%"#L.5+"+#+,#:;<.8(u#:.#*"*Y#-,#t222u#&)"D(#+,#6)"=(-#t222u#"#

+(-#t+,#-5-#A,)*"0(-u2#t222u#!(-#&),-#tA,)*"0(-u#4)"0+,-#0(-#]5,+"*(-#8(0#*.-#"65,%(-2#q#-,"#]5,#

,%%(-# 0(-# 7,W"02# x# 85"0+(# *.# *"*Y# 8(6)"6"# C"# 0(-# %%,7"6"# 05,-&)(# *"0+"+(?# 0(-# %%,7"6"# +,#

8(*,)?# 0(-# %%,7"6"# )($"# C# &(+(222#q# -,"?# .6"# "# 7,)0(-?# C# C"# -,# 7,0W"# "# &)"6"D")?# C# "-W222# L(*(# -,#

]5,+"6"# ,0# %"# 8"-"# +(0+,# &)"6"D"6"?# # 0(# &,0W"# $(-.6.%.+"+,-# +,# &)",)0(-2# V()]5,# -,# 7.0(# 8(0#

),8(*,0+"8./0#+,#"%%Y#*.-*(?#8(0#50"-#$,)-(0"-#+,#"%%Y?#,0&(08,-#,-(#'5,#%(#]5,#%,#"C5+/#"222##C#

"-W#$5+(#A"6.&")#"]5W2#XY3%6.K"=8#8C##

70

,)"I.)-."+%):H1)"+%"+')".`')"]H%")H"*.+&%"6'J&."%)-.F6%3%&)%"%/"H/."3.).".:&':(.+.":.&."

-%/%&".")H)"I(b')"[")%"6')"66%L."."L(L(&"3'/)(J'".6"R!h!"X%6".FH%6'"*.-%&/'")%"*H+."-.*F(1/K"

]H%+a/+')%"H/."+%"6.)"I%&*./.)"3'/"6.".FH%6."%/"$6.6:Hb.IH.C!""

Y3%6." 3'/36H[%" 6." i&(*.&(." XAá" [" 7á" J&.+'C" %/" 6." T(H+.+" +%" 012(3'!" i.&." .:'&-.&" ." 6."

%3'/'*W."+%6"I'J.&"\]H%".:%/.)"%&.")H5(3(%/-%9K"%66."[")H"I%&*./."(F./":'&"6.)"*.`./.)"."

6." %)3H%6." [K" :'&" 6.)" -.&+%)K" -&.F.b.F./" ^+%" %/-&.+." :'&" ).6(+._" %/" '-&.)" 3.).)" 3'*'"

-&.F.b.+'&.)"+'*1)-(3.)!"XD')"I%&*./')"L.&'/%)")E6'"(F./"."6."%)3H%6.!C"

"

R># V5,-# -W?# $()]5,222# v5,0(?# 0(-# +"6"0#50"#*.-,)."?# P0(T#V,)(#65,0(?# ,)"#"%4(2# x# $()# %(#*,0(-?#

+,8W"#*.#*"*Y#H0(#"0+"0#+,#8"%%,D,)(-K2#t222u#x"#85"0+(#),4),-Y6"*(-#%"#A"8W"*(-#t%"#&"),"u2#:.#

"65,%.&(#,)"#,%#]5,#,-&"6"#"%#&"0&(#+,#0(-(&)(-2#XY3%6.K"=8#8C##

Y"6')"+'3%".`')K":'3'"./-%)"+%"-%&*(/.&"6."i&(*.&(.K")%"5H%"."-&.F.b.&"+%":6./-."\"-.*F(1/"

3'*'"-&.F.b.+'&."+'*1)-(3.9"."6."3.)."+'/+%")H"*.*a"-&.F.b.F.!"

R>#V5,-#C(#&)"6"D;#A"-&"#%(-#+(8,#"J(-2#x"#+,-$5;-#*,#'5.#"#&)"6"D")#+,#$%"0&"2#x"#8(0#-5-#*.-*"-#

$"&)(0"-#+,#*.#*"*Y?#0(-#'5.*[[#q#-,"#]5,?#$")"#&,)*.0")#C(#,%#-,<&(#"J(?#C"#,-&57,#"AW#,0#,-"#

8"-"2#:,#+"6"0#$,)*.-(#+,# .)*,#"#,-&5+.")?# C# C"# ),4),-"6"#C#,-&"6"#C(#"AW?# C#"AW#*,#]5,+"6"2#

V()]5,#&"*6.;0#,-&"6"#8,)8"#+,#%"#,-85,%"2#bW?#,)"#,0#%"#8(%(0."#\")7")&,2#q#-,"#]5,#,-&"6"#&(+(#

*5C222#*5C#8,)8"?#C##-(6),#&(+(?#P0(T#Q5,#*.#*"*Y#,-&"6"#"%#&"0&(#+,#0(-(&)(-2#XY3%6.K"=8#8C#"

Y" 6')" #?" .`')" %/-&." 3'*'" %*:6%.+." +%" b5*,-"K" +'/+%" -&.F.bE" :'&" H/')" *%)%)!" ,)"

%/-'/3%)"3H./+'K"+%):H1)"+%".`'"["*%+('"+%"/'L(.GJ'K")H":.&%b."\H/"L%3(/'"+%" 5.*(6(."

'&(H/+."+%"$6.23.6.9" 6%":(+%"*.-&(*'/('"["+%3(+%" 3.).&)%!" VH" (6H)(E/"%/".]H%6"*'*%/-'"

%&.")%&"%/5%&*%&.":.&.":'+%&".[H+.&".")H"*.+&%K":%&'"^:H%)")%"6%"*%-%"."H/'"6."6'3H&."["

)%"3.).K"["[.")%"'6L(+."+%"6."*.*a_!"XY3%6.K"=8#8C"

VH" :.&%b." -&.F.b.F." 3'*'" 5H/+(+'&" %/" H/." 5aF&(3." +%" :6./3I.)!" ,66." ]H()'" )%JH(&"

-&.F.b./+'K":%&'K"*H[".")H":%).&K")H"*.&(+'"/'"6."^+%bE_"*a)!"Y6".`'"+%"3.).+')"-%/W./"[."

+')"I(b')"XJ%*%6')CK"6')":&(*%&'"+')"+%"+'3%!""

,/" .6Jc/" *'*%/-'" )H" %):')'" (/-%/-E" (&)%" +%" F&.)%&'" ." ,)-.+')" S/(+')" [K" -&.)"

L.&(')" (/-%/-')" 5.66(+')K" 3'*%/GE" ." -&.F.b.&" +%" 3'*%&3(./-%" XL%/+(%/+'" L%&+H&.)C!" i%&'"

%&." -'&/%&'" +%" '5(3('" [" 5H%" ." 6'" ]H%"*a)" )%" +%+(3E" +%):H1)!" y(L(%&'/" %/" L.&(')" 6HJ.&%)"

XO.-(L(-.)K"%/"%6"Q6(L.&>C"./-%)"+%")H".3-H.6"&%)(+%/3(."X$6.6/%:./-6.C!",/".6Jc/"*'*%/-'"

66%J.&'/"."L(L(&"3'/"6."*.+&%"+%"Y3%6."X)E6'":'&"*%+('".`'K"3H./+'"16"(/-%/-E"(&)%".",SCK".)W"

71

3'*'"-.*F(1/"3'/""H/')"I%&*./')"+%6"*.&(+'K"."6')"3H.6%)"Y3%6."-.*F(1/")%"L('"'F6(J.+."

." .-%/+%&" X6.L.&" &':.K" I.3%&" 3'*(+.K" %-3!C!" ,)-'" 5H%" I.)-." ]H%" 6'J&.&'/" I.3%&)%" +%" H/"

-%&&%/'":&':('"X3'/"5.3(6(+.+%)"F&(/+.+.)":'&"%6"F./3'C!"V(%*:&%"3H*:6(E"H/"&'6"*.-%&/'"

(/36H)'" 3'/" )H)" I%&*./')" *a)" :%]H%`')!" ,/" 6." 3&(./G." +%" )H)" #=" I(b')" XB" I'*F&%)K" ;"

*Hb%&%)CK".6"%)-.&")H"*.&(+'"3'/)-./-%*%/-%".H)%/-%"X:'&")H"-&.F.b'CK" 5H%")'3'&&(+.":'&"

)H"*.+&%K"]H%")(%*:&%"5H%"*H["3%&3./.K"[":'&"H/."+%")H)"I%&*./.)"*%/'&%)!"

D." *.['&W." +%" )H)" I(b')K" (&E/(3.*%/-%K" 3H&).&'/" 6." i&(*.&(." %/" 6." ,)3H%6." +%6"

T.*:'"0(6(-.&"Oc*%&'"#!"OH/3.")%"(*.J(/E"]H%")H"I(b."m(6+.K"6."-%&3%&.K"L.&(')".`')"*a)"

-.&+%"(F.".")%&"+%).:.&%3(+."["&%36H(+."%/"%)%"*()*'"T.*:'"0(6(-.&!"

R'`." Y3%6." %)" H/." *Hb%&" *H[" -&.F.b.+'&." ]H%" )%" +%+(3E" %/" 3H%&:'" [" .6*." .6"

I'J.&4".")H)"I(b')K"."3H(+.&")H"3.)."[")(%*:&%".-%/+(%/+'"[".[H+./+'"%/"6'"]H%":'+W.")H"

*.&(+'" X6%" 66%L.F." +%" 3'*%&" ." 6." 5aF&(3." +'/+%" -&.F.b.F.Cd" H/"*.&(+'K" 3.F%" +%3(&K"*H["

+%*./+./-%K"%)-&(3-'"%"(*:')(-(L'!"D%"JH)-.F."X["6%")(JH%"JH)-./+'C"F'&+.&"["-%b%&"%/")H)"

-(%*:')" 6(F&%)K" [K" *(%/-&.)" )H" %):')'" .c/" L(LW.K" L%/+W." .6JH/.)" +%" )H)" 3').)" ^."

%)3'/+(+.)_K":'&]H%"1)-%")(%*:&%"6%":&'I(F(E"-&.F.b.&4""

#R># \(?# 0508"# %,# 45-&/# ]5,# &)"6"D")"2# R#*W#*,# 45-&/# -.,*$),# &,D,)?# ,0&(08,-# C(# 7,0+W"?# $,)(# "#

,-8(0+.+"-#+,#;%?#]5,#0(#-,#+.,)"#85,0&"2#t222u#\(#%,#45-&"6"#]5,#C(#&)"6"D")"2#XY3%6.K"=8#8C#"

D."*.['&":.&-%"+%")H)"I(b')"5H%&'/":&'5%)('/()-.)4"

R>#bW2#v5,0(?#%"#*"C()#,-&5+./#%"#-,850+")."#C#-,#*,&./#"#,-&5+.")#-,8),&")."#,D,85&.7"2#b5#A,)*"0(#

,-&57(# ,0# %"# 7(8"8.(0"%?# C# -"%./# 8(*(# "5<.%.")# +,# 8(0&"+()2# t222u# j45"%2# !"# (&)"# 0.J"# 0(#*,# ]5.-(#

,-&5+.")2# !5,4(# %"# (&)"# ,-&5+./# +.-,J(# 4)Y'.8(2# @.=(# $).*")."?# -,850+")."# C# $),$"2# t222u# q&)"# '5,?#

,-&5+./# ")]5.&,8&5)"2# RA?# 0(?# .04,0.,)(# ]5W*.8(2#q# -,"?# ]5,# A.=(# &"*6.;0# $).*")."?# -,850+")."# C#

$),$"2#t222u#9%#(&)(#,-&5+./#")]5.&,8&5)"2#9%#(&)(#t222u#0"+"#*Y-#$"-/#$()#%"#7(8"8.(0"%?#$()]5,#C"#0(#

),4),-/2#\"+"#*Y-#,-&57(#8(*(#50#"J(?#85"0+(#*58A(2#9%#(&)(#.45"%?#&"*6.;02#q#-,"?#+(-#+,#%(-#

A(*6),-# 0"+"# *Y-# ,-&5+.")(0222# !"# (&)"# 0.J"# ,-&5+./?# ,-&,222# (+(0&(%(4W"2# !"# (&)"# ,-&5+./#

.0'()*Y&.8"2#t222u#G),-#+,#.0'()*Y&.8"2#t222u#!(-#&),-#X%&.*(-2#t222u#!(-#*Y-#8A.8(-2#90&)")(0#"%#L(0"%,$2#

XY3%6.K"=8#8C#"N+5,!& A;%#0$O$0#!& :%()O$,)& L(!3!& %)" 6." -%&3%&." I(b.!" ^,66." %)-H+(E" %/" H/." )%3H/+.&(."

-13/(3.!" Ñ!!!Ö" TH./+'" -%&*(/E" 6." )%3H/+.&(.K" ).6(E" 3'/" H/." 3.&-." +%" &%3'*%/+.3(E/" :.&."

-&.F.b.&" %/"H/"F./3'K" :%&'":'&" 6." %+.+" [." /'" 6." .+*(-(%&'/!" V.6(E" %66." 3'*'".H2(6(.&" +%"

3'/-.+'&!"Ñ!!!Ö"|."6H%J'")%"5H%".6"L'3.3('/.6"à"A"["[."+%".IW")%"5H%".6"T.)3'_"XY3%6.K"=8#8Cd"

72

%)-H+(E" ,3'/'*W." %/" %6" i'6(-13/(3'!" R%)+%" 3I(3." 5H%K" %/" :.6.F&.)" +%" )H" *.+&%K" *H["

%)-H+(')."["+%+(3.+."X["3'/"H/"JH)-'":'&"6."6%3-H&.Cd".")H)"I%&*./')"*%/'&%)")(%*:&%"6%)"

.[H+E"."%)-H+(.&!"R%)+%"b'L%/"*')-&.F.":&%'3H:.3(E/":'&"6.)"(/bH)-(3(.)"["+%)(JH.6+.+%)"

)'3(.6%)!" hH%" 5H/+.+'&.K" bH/-'" 3'/" '-&')" 3'*:.`%&')" XnH./" T.&6')K" ,G%]H(%6K" P%*%+(')K"

D(*E/C" +%" H/." %)3H%6." :.&." .+H6-')" %/" ,3.-%:%3!" V'6W." L(.b.&" 3'/)-./-%*%/-%" X."

0(3I'.3a/K"Q.2.3."["TI(.:.)C":.&."-&.F.b.&"%/"G'/.)"&H&.6%)"XT,0iYC!"i'&")H)"*c6-(:6%)"

.3-(L(+.+%)" :.).F." *H3I'" -(%*:'" 5H%&." +%" 3.)." [K" +%F(+'" ." 6.)" -%/)('/%)" ]H%" %)-'"

J%/%&.F.K":&(/3(:.6*%/-%"3'/")H":.+&%K"+%3(+(E"(/+%:%/+(G.&)%"\."6')"=@".`')"+%"%+.+9"["

)%"5H%"."L(L(&")'6.d"1)-%"&%:&%)%/-E"H/":.)'"+(5W3(6"+%"+.&":.&."%66.K"["H/.")(-H.3(E/"+(5W3(6"+%"

.)(*(6.&":'&":.&-%"+%")H)":.+&%)K".3')-H*F&.+')"."'-&.)"5'&*.)"+%"%+H3.3(E/!"

V%" :&%)H*%" ]H%" :H+'" I.F%&" )(+'" *(%*F&'" +%6" 0'L(*(%/-'" +%" Y33(E/"

P%L'6H3('/.&(." X0YPC" X(/5'&*.3(E/" /'" :&':'&3('/.+." :'&" 6." %/-&%L()-.+.C!" VH" *.+&%"

/H/3.")H:'"%2.3-.*%/-%"]H1"%)"."6'"]H%")%"+%+(3.F.")H"I(b.K"%/"]H1"3'/)()-W.")H".3-(L(+.+"

:'6W-(3.!" D'" c/(3'" ]H%" 6%" 3'/)-." %)" ]H%" ^6%" JH)-.F." (&)%" ." L%&" ." 6')" 3.*:%)(/')!" uH%" 6%"

JH)-.F.".[H+.&6')!_"|"]H%"m(6+." 6%" 66%JE"."+%3(&" 3'/":%).&"."%66." ["." )H"*.&(+'4" ^%)"]H%"

H)-%+%)" /'" ).F%/" 3'/" ]H1" +'6'&" L(L%" 6." J%/-%>" I.[" ]H%" .[H+.&" .6" 3.*:%)(/'_" XY3%6.K"

=8#8C!"

#9%%"#+,-"$"),8,#,%#ZF#+,#+.8.,*6),#+,#FigF#t1u#&,0W"#E`#"J(-2#t1u#R%#-"%.)1#b"%./#,%%"#+,#"]5W#"#%"-#m#

+,# %"#*"J"0"?#C#C"# '5,# %"#X%&.*"#7,=#]5,# %"#7.,)(02#\(-(&)(-#0(#,-&Y6"*(-#"]5W?#"0+Y6"*(-#,0#

:(),%."2#x#-"%./#C#+.D(#]5,#),4),-"6"#"#A"8,)#+,#8(*,)?#$,)(1#C"#0(#-,#-"6,#0"+"#+,#,%%"2#XY3%6.K"=8#8C"#

hH%"H/".:&'2(*.+.*%/-%"*%+('".`'"+%):H1)"+%")%&")%3H%)-&.+.K"%/"#<;=K"]H%"H/.".*(J."

+%"m(6+."FH)3E"."Y3%6."["6.":&%)%/-E"3'/"P').&('"NF.&&.!",/"%)%".`'")%"(/-%J&EK".":%).&"+%"

)H"*.&(+'K".6"T'*(-1":.&."FH)3.&".")H"I(b."X%/"%)%"%/-'/3%)"66.*.+'"T'*(-1"O.3('/.6":&'"

R%5%/)."+%"i&%)')K"i%&)%JH(+')K"R%).:.&%3(+')"[",2(6(.+')"i'6W-(3')"XTOiRiiR,iC!"

m'["%/"+W.?&.")H)"3.)("?A".`')"+%"%+.+K".6" (JH.6"]H%"P%[/.K")(JH%"3'/)(+%&a/+')%"

*(%*F&'"+%6"T'*(-1"o,H&%p.qK"[K".":%).&"+%")H)"3'/+(3('/%)"+%").6H+K"&.&."%)" 6."L%G"]H%"

5.6-."."6."V")"+"#:,0-5"%,-#'),0&,#"#%"#b5$),*"#L()&,#+,#a5-&.8."#+,#%"#\"8./0K"%/"+'/+%"

)%"&%3H%&+."[")%"%2(J%"6.":&%)%/-.3(E/"3'/"L(+."+%"-'+')"6')"+%).:.&%3(+')!&

73

Y3%6."%)" L(H+."+%)+%".:&'2(*.+.*%/-%"#@".`')K" [" L(L%"%/" 6."*()*."3.)."%/"+'/+%" 5H%"

L()-." )H" I(b." :'&" c6-(*." L%G!" YH/]H%" %/" 6')" c6-(*')" @8" .`')" I.[./" %2()-(+'" 5.3-'&%)K"

3'*:6(3.3('/%)"["3'/+(3('/%)"*.-%&(.6%)"["%3'/E*(3.)"]H%":H+(%&./")HJ%&(&"*H+.&)%"+%"

%)."3.)."XL(L%"3'/"L.&(')"+%")H)"I(b')CK"%2()-%"H/."&%)()-%/3(."["&%/H%/3(."5H%&-%"."I.3%&6'K"

:'&")%&"1)-."6."&%5%&%/3(."."+'/+%")H"I(b.":'+&W."L'6L%&"H/"+W.!""

&

74

A+($5!&P$0"Q",$I&R!7)0!&

:.-#"65,%(-#0(#,)"0#+,#G,8"*"8A"%8(2#9)"0#+,#50"#$(6%"8./0#*Y-#$,]5,J"#A"8."#"+,%"0&,?#]5,#-,#

%%"*"#b"0#b.*/0#x,A5"%&,$,82#:Y-#"+,%"0&,#+,#G,8"*"8A"%8(2#9%%(-#*.4)"0#"#G,8"*"8A"%8(#,0#

FiZo2#9)"0#4,0&,#$5,-#8(*(#]5,#*5C#+,8.+.+"?#P0(T#:5C#,*$),0+,+()"2#x#"-W#,-#8(*(#%%,4"0#"AW#

"#G,8"*"8A"%8(2#x#"AW#*.-#$"+),-#7.7.,)(0#+5)"0&,#*58A(#&.,*$(?#,-&,222#9)"#4,0&,#]5,?#$")"#-5#

&.,*$(?#&,0W"0#"%450(-#),85)-(-#8(*$")"+(#8(0#%"#4,0&,#+,#-5#$5,6%(?#P0(T#q#-,"?#&,0W"0#&,)),0(-?#

&,0W"0#8"-"-?#C#,-(#%,-#+"6"#8(*(#50#+,&,)*.0"+(#,-&"&5-2#V,)(#-.,*$),#8(*(#]5,#,)"0#4,0&,#*5C#

-(%.+")."2#XY(3%6.K"=8#8C#"Y)W""+%5(/%",;53?C"L327O7B3P&QC@62C".")H"5.*(6(.!"O.3(E"%/"$%3.*.3I.63'K"iH%F6.K"["3&%3(E"

.IW"3'/")H)".FH%6')K"-W')"[":.+&%)K".6"6.+'"+%")H)"##"I%&*./')"[".6JH/')":&(*')!"V(%/+'"6."

)1:-(*."+%" #="I%&*./')" XB" I'*F&%)" [" %6" &%)-'"*Hb%&%)K" +%" 6.)" 3H.6%)" @" 5.66%3(%&'/":'&"

%/5%&*%+.+d"H/."+%":%]H%`.K"6.)"'-&.)"+')"+%".+'6%)3%/-%)M.+H6-.)C")%"3&(E"%/"%6")%/'"+%"

H/."5.*(6(."&H&.6"+%"3(%&-."%)-.F(6(+.+"["%)-.-H)")'3('%3'/E*(3'K".H/]H%K":.&.5&.)%./+'"."

Y(3%6.K" )(%*:&%" )%/3(66." [" )(/" .FH/+./3(.)" *.-%&(.6%)!" D." )'6(+.&(+.+" 5H%" H/." +%" )H)"

3H.6(+.+%)" 3.&.3-%&W)-(3.)K" [" H/'"+%" 6')" L.6'&%)" ]H%"Y(3%6." I(G'" :')-%&('&*%/-%" )H[')K" ["

]H%".-&(FH[%"."6."%+H3.3(E/"["6')"L.6'&%)"-&./)*(-(+')":'&":.&-%"+%")H)".FH%6')"[":.+&%)4""

#1,)"0#8(*(#-(%.+").(-?#P0(T#9%%(-2#RC5+"6"0#"#%"#4,0&,?#"-W?#-.0#*"C()222#-.0#$,+.)#"%4(#"#8"*6.(?#

P0(T#t1u#,%%(-#0(-#.085%8"0#,-&"#*"0,)"#+,#-,)2#9-&"#*"0,)"#+,#-,)#C#+,#$,0-")2#XY(3%6.K"=8#8C#"

VH)" .FH%6')" %&./" b'&/.6%&')" 9)%" +%+(3.&'/" .6" 3.*:'9" [" -.*F(1/" .6" 3'*%&3('" XL%/+W./"

5&H-.CK"["6.":')-%&('&"J%/%&.3(E/K"6."+%")H":.+&%K")%"(/36(/E":'&"%6"3'*%&3('""X:&'+H33(E/"["

L%/-." +%" 3.3.IH.-%)CK" )'F&%" -'+'K" .H/]H%" -.*F(1/" .6JH/')" +%" )H)" -W')K" I%&*./')" +%6"

:.+&%K")%"+%+(3.&'/"."6."*c)(3."XF./+."+%6":H%F6'C!"VH"*.+&%")%"+%+(3E"."6.)"6.F'&%)"+%6"

I'J.&!""

,/"%6"3'/-%2-'"+%"H/."5.*(6(."+%"*H3I."+()3(:6(/."["-&.F.b'".&+H'K"."Y(3%6.K"+%)+%"

:%]H%`.K")%" 6%".)(J/.&'/"*H3I')"+%F%&%)"["'F6(J.3('/%)K" 6')"3H.6%)".)H*(E")(%*:&%"3'/"

J&./"3'*:&'*()'K":%&)%L%&./3(."["+%+(3.3(E/!""

#R># I,-+,?# 65,0(?# "# 0(-(&)(-# 0(-# .08()$()")(0# "%# &)"6"D(# +,-+,# $,]5,J.&(-2# G(+"# %"# 7.+"# '5,# +,#

*58A(#&)"6"D(#,0#%"#8"-"2#x#]5.=Y#,-&(#A"8W"#]5,#0(-(&)(-#8"-.#&(+(-#'5;)"*(-?#(#&(+(-#'5;)"*(-#

8(*(#*5C# "8&.7(-2# 90&(08,-?# +,-+,# $,]5,J(-# 0(-# +"6"0# ),-$(0-"6.%.+"+,-# 4)"0+,-2# q# -,"?# $()#

,D,*$%(?#C(#.6"#"#7,0+,)#"%#&."045.-#"#%(-#Ff#"J(-2#XY(3%6.K"=8#8C"#

75

R%" )H" :.+&%" *%/3('/." %66." I.F%&" I%&%+.+'" 6." +()3(:6(/.K" 6'" %)-&(3-'d" +%" )H" *.+&%K" )H"

3.:.3(+.+"+%"3&%.-(L(+.+K"6."I.F(6(+.+"+%":%/).&"&a:(+'"["+%")'6H3('/.&"%/"5'&*.":&a3-(3."

6')":&'F6%*.)4""

"

1A,),+;#*58A"-# 8(-"-# +,# ,%%(-2# 90# 7").(-# "-$,8&(-2# 90# 85"0&(# "# "8&.&5+,-?# '()*"-# +,# -,)?# "# %(#

*,D()# 7"%(),-?# ,-&,222# $5,-# %"#A,),08."#]5,#+,#$()# -W# &)",*(-222# 90# ,-&,# 8"-(?# $()# ,D,*$%(?# +,#*.#

$"$Y?#%"#$")&,222#+,#-,)222#,-&).8&(?#C(#8),(#]5,#C(#-(C#50#$(]5.&(#,-&).8&"?#50#$(]5.&(#)W4.+"?#C#8),(#

]5,#,-#$()]5,#;%#,)"#"-W2#9A?#-(C#*5C#8),"&.7"?#65,0(?#*,#8(0-.+,)(#8),"&.7"?#*,#8(0-.+,)(#*5C222#

8(0#A"6.%.+"+,-2#I,-&),="-#8(*(#]5,#*,#0"8,0?#0(#-;#+,#+/0+,?#C#8),(#]5,#"-W#,)"#*.#*"*Y2#t1u#

8(*(#]5,#A"6W"#,-"#A"6.%.+"+#+,#.0&5.8./0?#+,#"0Y%.-.-#t1u#q#-,"?#&,0W"#8"$"8.+"+#+,#"6-&)"88./0?#"#

$,-")#+,#-5#0.7,%#+,#,-8(%").+"+2#XY(3%6.K"=8#8C#"

,)-.)"3.:.3(+.+%)"(//.-.)K")H"3.:.3(+.+"+%"./a6()()"["%6")%/-(+'"["/(L%6"+%"&%):'/).F(6(+.+K"

)'/"H/."3'/)-./-%"["H/'"+%"6')":&(/3(:.6%)".-&(FH-')"+%"Y(3%6.K":&%)%/-%)"%/")H"L(+."5H-H&.K"

]H%":%&*%.&'/K")%"*.-%&(.6(G.&'/"["6."I(3(%&'/"+%)-.3.&)%"%/")H":')-%&('&"L(+.":&'5%)('/.6"

X3'*'"%)-H+(./-%"["3'*'":&'5%)('/()-.C"[":'6W-(3."X3'*'"6H3I.+'&.")'3(.6C!""

T.F%"*%/3('/.&"]H%"Y(3%6.K"+%)+%"b'L%/3(-."X3H./+'"(F."%/"6."i&%:.&.-'&(.CK"L(L(E"

+%" 3%&3." :&'F6%*a-(3.)" )'3(.6%)K" %3'/E*(3.)" [" :'6W-(3.)" ." 6.)" ]H%" %/" %)%"*'*%/-'" 6')"

3.*:%)(/')"%/"iH%F6.")%"%)-.F./"%/5&%/-./+'"X%/"3'/3&%-'4"%6".6G."+%6":&%3('"+%6".JH.CK"["

-HL'"3'/-.3-'"+(&%3-'"3'/" 6.)" &%):%3-(L.)"*'L(6(G.3('/%)"]H%")%"+(%&'/4")'6W.".)()-(&"." 6.)"

&%H/('/%)"+%6":(7.*.,0&(#q6),)(#L"*$,-.0(#,0#V5,6%"K" 3'*'"%*().&(."[" &%:&%)%/-./-%"

+%")H":.+&%K".6"]H%"*./-%/W.".6"-./-'"+%"6')".3H%&+')"["+%3()('/%)"-'*.+')!"X,66."["H/."+%"

)H)"I%&*./.)"%&./"+%"6.)"c/(3.)"*Hb%&%)"]H%".)()-W./C!"

,/" &%6.3(E/"." 6."%+H3.3(E/K"%/"Y(3%6."%2()-%"H/").6-'"J%/%&.3('/.6" (*:'&-./-%" X%/"

3'*:.&.3(E/" 3'/" P%[/." [" Y3%6.CK" %/" +'/+%" %&." H/" -./-'"*a)" 3'/3%F(F6%" ]H%" 6."*Hb%&"

-HL(%&."%+H3.3(E/"5'&*.6"*a)".66a"+%"6."i&(*.&(.d")(/"%*F.&J'K"-.*:'3'"%&."6'"*a)"3'*c/"

["/'"+%bE"+%")%&")'F&%).6(%/-%"["3')-')'":.&."%66.K"+%/-&'"+%")H"3'/-%2-'"5.*(6(.&K"%6"I%3I'"

+%")%JH(&"["3H*:6(&")H)".):(&.3('/%)"+%"5'&*.3(E/".3.+1*(3'9:&'5%)('/.6"X6'" 6'J&."3'/"6."

.[H+."+%")H"I%&*./'"*.['&K"/'"+%")H":.+&%C4""

#x#$),8.-"*,0&,#,0#;-&"#+,#%"-#8"W+"-#&(&"%,-#t+,%#0,4(8.(#+,#%"#'"*.%."u?#'5,#85"0+(#C(#]5,)W"#-,45.)#

,-&5+."0+(?#85"0+(#*.#$"$Y#C"#0(#$5+(#"C5+")#$")"#]5,#C(#-.45.,)"#,-&5+."0+(2#9-&,?#8"6,#+,8.)#

]5,?#+,#&(+(-#%(-#A,)*"0(-?#,-&,?#C(#-(C#%"#X0.8"#]5,#,-&5+./#50"#8")),)"2##x?#,-&,222#$,)(#%"#,-&5+.;#

$()#*.#85,0&"2"XY(3%6.K"=8#8C#

76

",/"'-&.)":.6.F&.)K"-&./)J&%+%"F.&&%&.)"3H6-H&.6%)"["%3'/E*(3.)"+%/-&'"+%")H"3'/-%2-'"%/"

6'"]H%"."6."3H%)-(E/"5'&*.-(L.".3.+1*(3.")%"&%5(%&%!"XT.F%".36.&.&"]H%")(%*:&%")%"+%)-.3E"

:'&" )%&" H/." .6H*/." )'F&%).6(%/-%" [" b'L%/" %/" &%6.3(E/" ." )H)" 3'*:.`%&')C!" ,/" H/."

3'*F(/.3(E/" +%" (/]H(%-H+%)" :%&)'/.6%)K" H/" ./+.*(.b%" %/" :&(/3(:('" +%" )H" :&':(."*.+&%"

:.&." .:&%/+%&" ." 6%%&" [" %)3&(F(&" +%)+%" :%]H%`.K" [" H/." 5H%&-%" (/56H%/3(." +%" )H" I%&*./'"

*.['&K" y.6%/-W/" " 9]H(%/" %)" :')-%&('&*%/-%" +%).:.&%3(+'9" ]H%" [." I.FW." ).6(+'" +%6" )%/'"

:.-%&/'"["*.-%&/'":.&."%)-H+(.&"%/" 6."T(H+.+"+%"012(3'K" 6'J&."+%):&%/+%&)%"+%6"I'J.&"

:.-%&/'M*.-%&/'K"." 6')"#?".`')"+%"%+.+K":.&." (&)%"."%)-H+(.&"." 6."T(H+.+"+%"012(3'"H/"

-(%*:'!" ,)" 1)-%" %6" (/(3('" +%" 6." ]H%" %66." HF(3E" 3'*'" H/." )%JH/+." %-.:." %/" )H" L(+." X6."

:&(*%&.")%"&%:&%)%/-.&W.":'&"6."L(+."%/"6."3.)."+%")H)":.+&%)"%/"$%3.*.3I.63'C!""

,)")H"I%&*./'"]H(%/" 6.":%&)H.+(E"+%" (&)%"3'/"16"."%)-H+(.&!"TH&)E")H"D(3%/3(.-H&."

%/" ,3'/'*W.4" 3'*%/GE" %/" 6." S/(L%&)(+.+" O.3('/.6" YH-E/'*." +%" 012(3'" [K"

:')-%&('&*%/-%K" +%3(+(EK" :'&" 3H%)-('/%)" 6'JW)-(3.)K" 3.*F(.&)%" .6" N/)-(-H-'" i'6(-13/(3'"

O.3('/.6d" :'&" &.G'/%)" 5(/./3(%&.)K" %/" .6Jc/"*'*%/-'" 66%JE" -.*F(1/" ." 3H&).&" 6." *()*."

3.&&%&.":.&.6%6.*%/-%"%/"6."z%/%*1&(-."S/(L%&)(+.+"YH-E/'*."+%"iH%F6.4"

#90&(08,-#%%,7"6"#%"-#+(-#8")),)"-2#t1u#!"#%%,7"6"#"8Y"Ñ%/"iH%F6.K"zSYiÖ#C#%"#%%,7"6"#"%%Y#Ñ%/"%6"R!h!K"%/"%6"i'6(-13/(3'Ö2#R50]5,#,)"#%"#*.-*"2#x#,-&(#'50+"*,0&"%*,0&,#$")"#$(+,)#856).)#,%#$)(6%,*"#

,-&,# +,# %"# -56-.-&,08."2# 90&(08,-?# 8(*(# &,0W"# %"# 6,8"# ,8(0/*.8"# +,# %"# ,-85,%"?# ]5,# ,)"0# Ffff#

$,-(-?# C# &,0W"# %"# 6,8"#]5,# %,-# +.,)(0#"# %"# 8"-"#+,# ,-&5+."0&,-?# ]5,# ,)"#+,#Efff#$,-(-2# 90&(08,-#

8(*(#]5,#C(#]5,)W"#856).)#,-&,#$)(6%,*"#+,#0(#&,0,)#),85)-(-#,8(0/*.8(-#8(0#,-(2#x#"-W#%(#A.8,2#x#

"-W#%(#A.8,?#$,)(#(67."*,0&,#%%,4/#,%#*(*,0&(#,0#]5,#C(#C"#0(#.6"#"#$(+,)#*"0&,0,)#*.#,-&"08."#

,0#%(-#+(-#%54"),-2"XY(3%6.K"=8#8C#"

$%&*(/E":'&"J&.+H.&)%"%/" 6."zSYi!"S/')".`')"+%):H1)"'F-(%/%"%6"J&.+'"+%"0.%)-&."%/"

S&F./()*'" X:'&" 6." zSYiC" [" .3-H.6*%/-%" )%" +%+(3." ." 6." +'3%/3(." %/" H/." i&%:.&.-'&(."

X-.*F(1/"+%"6."zSYiK"%/"iH%F6.C!"

Z&./":.&-%"+%")H"L(+."%)-H+(./-(6"%/"%6"R!h!K":'&"3'/-.3-'"["&%3'*%/+.3(E/"+%")H"

I%&*./'"y.6%/-W/K"Y(3%6."L(L(E"%/" 6.)"T.).)"+%",)-H+(./-%)"]H%"%2()-W./"%/"%)%"%/-'/3%)"

X%/"+')" +%" %66.)4" :&(*%&'" 6." +%"0'&%6')" h%*%/(6K" [" 6H%J'" 6." +%" iH%F6.CK" H/" %/-'&/'K" %/"

.]H%6"*'*%/-'K"*H[":'6(-(G.+'" ["*'L(6(G.+'" X5'3'K" .+%*a)K" +%" 3'/-&'6" [" &%:&%)(E/":'&"

:.&-%" +%6" J'F(%&/'C!" $HL'" )(%*:&%" *H3I." :.&-(3(:.3(E/" :'6W-(3." %/" 6')" *'L(*(%/-')"

77

%)-H+(./-(6%)"X3'*'"*(%*F&'"+%"6."T.)."+%",)-H+(./-%)K"5'&*E"-.*F(1/":.&-%"+%6"h&%/-%"

T'/-&."6."P%:&%)(E/C!"

"

90&(08,-# 85"0+(# *.# A,)*"0(# *,# +.8,# ]5,# *,# 7"C"# "%# I.-&).&(# U,+,)"%# 8(0# ;%?# C(# *,# 7(C#

.0*,+."&"*,0&,2#x?#"%#%%,4")#"AW?#;%#*,#+.8,#]5,222#\(#*,#A"6W"#+.8A(#+/0+,#.6"#"#7.7.)?#0.#0"+"2#x(#

-5$(0W"#]5,#8(0#;%2#90&(08,-#C(#85"0+(#%%,4(#"%#I.-&).&(#U,+,)"%?#;%#*,#+.8,#]5,#.6"#"#7.7.)#,0#50"#

8"-"#+,#,-&5+."0&,-2#:,#8(%(8"#,0#%"#L"-"#+,#9-&5+."0&,-#+,#:(),%(-#U,*,0.%?#]5,#-,#56.8"6"#,0#%"#

L(%(0."#b"0#S"'",%2#RAW#*,#7(C#"#7.7.)2#XY(3%6.K"=8#8C""D6%JE" -.*F(1/K" :')-%&('&*%/-%K" ." 3'*:.&-(&" +%:.&-.*%/-'" 3'/" '-&')" 3'*:.`%&')" ]H%K"

+.+.")H"+(5W3(6")(-H.3(E/"%3'/E*(3.K")%")'6(+.&(G.&'/"3'/"%66.!"R%):H1)K"3'/"H/.":.&%b."*H["

3'/56(3-(L." 3'/" 6." ]H%" *./-HL'" H/" /'L(.GJ'" +%" *H3I')" .`')K" :%&'" +H&E" :'3'" -(%*:'"

+%):H1)"+%"(&)%"."L(L(&"3'/"16!""

hH%" H/" @8" +%" )%:-(%*F&%" +%" #<?;K" +H&./-%" %6" :%&('+'" +%" Y(3%6." %/" 6." 3.)." +%"

%)-H+(./-%)" %/" %6" R!hK" 3H./+'" %)" +%-%/(+'" )H" I%&*./'" %/" 6." 3.)." +%" )H)" :.+&%)K" %/"

$%3.*.3I.63'"XI.FW."(+'"."L%&".")H"5.*(6(.C4""

"

,%# +W"# Zf# %%,4")(0# $()# ;%2# t1u# *,# 8(0&")(0# *.-# A,)*"0"-?# ,-&"6"0# $,]5,J"-?# ]5,# 50"# +,# ,%%"-#

,-&"6"#-,0&"+"#8(0#;%?#,0#-5-#$.,)0"-?#C#%%,4")(0#50(-#.0+.7.+5(-?#,)"0#&),-#8(8A,-?#-.0#$%"8"-?#8(0#

"0&,0"-?#C#+,-8,0+.,)(0#$,)-(0"-#]5,#%%,4")(0#"#$),450&")%,#"#;%#-.#"AW#7.7W"#_"%,0&W02#x#;%#+.D(#H#0(?#

"]5W# 0(# 7.7,2K# x# +,-$5;-# +,# ,-(# t1u# 6"D")(0# "# (&)"# $,)-(0"?# +,# 50(# +,# %(-# 8(8A,-?# C# %(# %%,7")(0#

"4"))Y0+(%(#+,#%"#*"0(222#!"#$,)-(0"#-,#7,W"#]5,#A"6W"#-.+(#4(%$,"+"?#&()&5)"+"?#]5.=Y-?t1u#C#+.D(#

H;%#,-#_"%,0&W0K2#x#,0&(08,-#"AW#'5,#+(0+,#%(#"4"))")(0#C#-,#%(#%%,7")(02#b,#%(#%%,7")(0#C?#,-&,?#8(*(#

"#%"-#Z#+,#%"#&")+,?#7(%7.,)(0#"#),4),-")#C#%(#%%,7")(0#&(&"%*,0&,#4(%$,"+(?#8(0#%"#*"0(#="'"+"?#8(0#

%"-#*5J,8"-#,0-"04),0&"+"-222#,-&,222#%"#8")"#A.08A"+"222#XY(3%6.K"=8#8C""

V%" :&%)H*%"]H%"S!5$"#H"&AO$5!0,)& P$0"Q",$I& R!7)0!& -HL'" .6JH/." &%6.3(E/" 3'/" 6." D(J."

T'*H/()-." =@" +%" V%:-(%*F&%K" .H/]H%" /'" I.[" %L(+%/3(.)" +%" /(/Jc/" -(:'" ]H%" .5(&*%/" %6"

-(:'"+%"L(/3H6.3(E/"'"+%":.&-(3(:.3(E/!"D'"c/(3'"]H%"Y(3%6.").F%"%)"]H%4"

"

L5"0+(#%(#+,&57.,)(0#,0#G,8"*"8A"%8(#;%#+.D(#]5,#%(#%%,7"6"0#$()]5,#]5,)W"0#]5,#,0&),4")"#"#50"#

$,)-(0"#+,#%"#!.4"2#RAW#C"#0(#-5$.*(-#"#]5.;02#V,)(#+,#%(#]5,#-W#*Y-#(#*,0(-#-,#-"6W"?#$5,-#,-#]5,#

A"6W"?#8(0#%"#+,&,08./0#+,#a5"0?#+,#S5'.0(?#8(*(#]5,#A"6W"#50"#7.085%"8./0#"AW2#t1u#'5,)(0#8(*(#

-5-#"*.4(-?#-5-#8(*$"J,)(-?#$,)-(0"-#8,)8"0"-#"#;%?#C#A"6W"#*Y-#4,0&,#]5,#A"6W"#-"%.+(#+,#%"#8"-"#

+,#,-&5+."0&,-#]5,#8(*(#]5,#-,#-"6W"#]5,#&"*6.;0#,)"0#8(*$"J,)(-#+,#,%%(-2#XY(3%6.K"=8#8C"&

78

,)-%"I%3I'" 5H%"H/":.&-%9.JH.)"*H[")(J/(5(3.-(L'"%/" 6."L(+."+%"Y(3%6.":'&"L.&(.)" &.G'/%)4"

-./-'":'&"6.":.&-%"%*'3('/.6K"3'*'":'&"6.":.&-%":'6W-(3."X%66."-.*F(1/"%&."H/."%)-H+(./-%"

:'6W-(3.*%/-%".3-(L.K"["%)-'"&%:&%)%/-.F."H/."(/%L(-.F6%")%/).3(E/"+%"*(%+'"[":%6(J&'C"[K"

-.*F(1/K":'&"6.":.&-%"(/-%6%3-H.6"["%3'/E*(3.K")(%/+'"3'/)(+%&.+'")H"I%&*./'"y.6%/-W/")H"

:&(/3(:.6"*%/-'&"(/-%6%3-H.6"[":'6W-(3'"[K"-.*F(1/K")H":&(/3(:.6".:'['"%3'/E*(3'!"hH%"%)-%"

%L%/-'K" bH/-'" 3'/" '-&.)" 3'[H/-H&.)K" H/" +%-'/.+'&" :.&." ]H%" Y(3%6." +%3(+(%&." &%J&%).&" ."

iH%F6.!""

"

I,-$5;-#+,#%"#+,-"$").8./0#+,#_"%,0&W0?#$5,-#-,#+.,)(0#7")."-#-.&5"8.(0,-2#^0"?#]5,#C(#+,$,0+W"#+,#

;%# ,8(0/*.8"*,0&,2# Q5,# C(# &,0W"# 50"# 6,8"# +,# ,-85,%"?# -W2# V,)(222M"AO# 9-&"6"# ,0# $)(8,-(# +,#

+,-"$").8./0#%"#8"-"#+,#,-&5+."0&,-#+(0+,#C(#7.7W"2#9-&"6"0#),&.)"0+(#-56-.+.(-#"#%"#"%.*,0&"8./0##C#

,-&(#A.=(#]5,#%"#-.&5"8./0#-,#7(%7.,)"#*5C#+.'W8.%?#,0#&;)*.0(-#,8(0/*.8(-2#t1u9%#$)(6%,*"#,-&"6"#,0#

%"#"%.*,0&"8./0#C#,0#,%#*(6.%.").(#]5,#*58A"-#7,8,-#-,#0,8,-.&"6"2#XY(3%6.K"=8#8C"#

S/'" +%" 6')" :&'[%3-')" ]H%" (/3%/-(L.&'/" )H" :.&-(+.K" bH/-'" 3'/" '-&')" 3'*:.`%&')" +%" 6."

'&J./(G.3(E/" %)-H+(./-(6" ." 6." ]H%" :%&-%/%3W." %/" %)%" %/-'/3%)" X%6" v%(]5,# +,# !58A"#

9-&5+."0&.%#j0+,$,0+.,0&,@;CK"5H%"%6"+%"6."3'/5'&*.3(E/"+%"H/."/H%L."3.)."+%"%)-H+(./-%)"

%/"iH%F6.!"

"

90&(08,-?#$),8.-"*,0&,#$()#,-(#Ñ:'&" 6.":&'F6%*a-(3."%3'/E*(3."+%" 6')"%)-H+(./-%)".6"&%-(&.&)%"%6")HF)(+('"."6.".6(*%/-.3(E/"."6."3.)."+%"%)-H+(./-%)"+%6"R!h!Ö?#-,#8(0-.+,)/#8(07,0.,0&,#]5,#A56.,)"?#"]5W#,0#V5,6%"?#8"-"-#+,#,-&5+."0&,-?#C#]5,#A56.,)"222#$")"#]5,#$5+.,)"#A"6,)#"$(C(#"#%"#+,#"%%Y2#

90&(08,-#"-W#,-#8(*(#,0&(08,-#-,#+,8.+,#]5,#-,#7,04"#4,0&,#$")"#"8Y2#x#C(#+,8.+W#7,0.)*,2#t1u#x#

t1u0(#*,#7,04(#-(%"2#b,#7.,0,0#*Y-#8(*$"J,)(-#"#V5,6%"2#x#85"0+(#%%,4"*(-?#C"#%%,4"*(-#"#7.7.)#

D50&(-2#XY(3%6.K"=8#8C""

hH%"%/"iH%F6."+'/+%"3'*%/GE"6."]H%"Y(3%6."HF(3."3'*'"6."-%&3%&."%-.:."+%")H"L(+.K"]H%"

%66." +%5(/%" 3'*'" +%" *.['&" 3'/)3(%/3(." [" *H3I." *a)" 36.&(+.+" [" *.+H&%G" %/" 3H./-'" ."

(+%.6%)"[":')-H&.":'6W-(3.")%"&%5(%&%4"

"

,-#50"#,&"$"#,0# %"#]5,?# ,-&,?# C(#,-&(C#*58A(#*Y-# 8%")"#+,# %"#$)(6%,*Y&.8"#,8(0/*.8"?#$(%W&.8"?#

-(8."%?#&,04(#50"#'()*"#+,#$,0-")#*Y-222#$)($."?#8(0#*"C()#")45*,0&(?#8(0#*"C()#7.-./0222#x#D50&(#

@;" Q&J./(G.3(E/"%)-H+(./-(6"]H%".J&H:.F."%)-H+(./-%)"+%"+()-(/-.)"%)3H%6.)"["]H%")%"%/3.&J.F."+%"(*:H6).&"

(/(3(.-(L.)" :.&." ).-()5.3%&" /%3%)(+.+%)" [" +%*./+.)" J%/%&.6%)" +%" 6." F.)%" %)-H+(./-(6" X3'*%+'&%)"%)-H+(./-(6%)K" 3.).)" +%" %)-H+(./-%)K" 3H%)-('/%)" &%6.3('/.+.)" 3'/" :6./%)" [" :&'J&.*.)" .3.+1*(3')K"F(F6('-%3.)"["6.":6./-."+'3%/-%K"%/-&%"'-&.)C!""

79

"# ,-&(# ,-&Y# ,0")6(%")# %"# $),-,0&"8./0# +,# %(-# +,-"$"),8.+(-?# ,%# "%&(# "# %"# ),$),-./0# C# &(+(# ,-&(2#

90&(08,-?#,-"#,&"$"?#C(#%"#56.8")W"#"#$")&.)#+,#]5,#*,#),4),-(#"#V5,6%"?#A"-&"#85"0+(#,4),-(#+,#%"#

8")),)"2#XY(3%6.K"=8#8C""

Y6" %J&%).&" +%" 6." 3.&&%&.K" Y(3%6." -HL'" L.&(')" -&.F.b')4" 3'*'" %*:6%.+." %/" H/." +H63%&W.K"

+./+'" 36.)%)" %/" %)3H%6.)" -./-'" :cF6(3.)" 3'*'" :&(L.+.)K" I.)-." %6" *'*%/-'" %/" ]H%"

%/3H%/-&." H/" :H%)-'" %/" 6." z%/%*1&(-." S/(L%&)(+.+" YH-E/'*." +%" iH%F6.!" ,)" %)-%"

*'*%/-'"%6"]H%"&%:&%)%/-.":.&."%66."%6"(/(3('"+%"'-&."/H%L."%-.:.K"]H%"(/36H[%"-.*F(1/"6."

&%6.3(E/"3'/"6."]H%"%)".I'&.")H":.&%b.4"

"

L),(#]5,#"AW# ,-&Y#(&)"222# (&)"# ,&"$"?# P0(T#L5"0+(# C(# ,0&)(#"# %"#^0.7,)-.+"+?# $5,-# C"# .0.8.(# (&)"#

,&"$"# +,#*.# 7.+"2# x# +,0&)(# +,# ,-&"# ,&"$"# C(# $(+)W"# 56.8")#*(*,0&(-# ]5,# -(0# .*$()&"0&,-2# V()#

,D,*$%(?# 50"# 7,=# ]5,# ,0&)(?# ,-&,?# ,0&)(# ,0# Fige?# $,)*"0,=8(# +(-# "J(-# C# +,-$5;-# -,# +"# 50#

$)(6%,*"#,0#%"#^0.7,)-.+"+?#50#$)(6%,*"#$(%W&.8(#,0#%"#^0.7,)-.+"+p#A"C#50#),8()&,#*5C#'5,)&,#+,#

$,)-(0"%#C#"AW#C(#-"%4(2#t1u#x#,-&(#A.=(#]5,#C(#$5-.,)"#50#0,4(8.(2#x?#,-&,?#,*$,="*(-#,%#0,4(8.(#

*.# ,-$(-(# C# C(222# +,# )($"?# .45"%*,0&,?# A"-&"# %"# ',8A"# &,0,*(-# ,%# 0,4(8.(?# C?# ,-&,#*Y-# "+,%"0&,#

75,%7(#"#.04),-")#"#%"222#"#%"#^0.7,)-.+"+#"%%Y#,0#G,8"*"8A"%8(2#XY(3%6.K"=8#8C""

Y3-H.6*%/-%" Y(3%6." L(L%" 3'/" %)-." :.&%b." XnH./" n')1CK" ]H%" 3'/'3(E" %/" 6." 3.)." +%"

%)-H+(./-%)!" ,)" )(J/(5(3.-(L'" %6" I%3I'" +%" ]H%" 16K" ." )H" L%GK" I.[." 3'/'3(+'" ." )H" I%&*./'"

y.6%/-W/" [" I.[." 3'*:.&-(+'" 6H3I.)" %" (+%.6%)" -./-'" 3'/" 16" 3'*'" 3'/" Y(3%6.!" $(%/%/K" :'&"

-./-'K"H/"F.J.b%"+%":.&-(3(:.3(E/":'6W-(3."%)-H+(./-(6"%/"3'*c/"[")'/K"I'["+W.K"3'*:.`%&')"

+%" L(+.K" +%" :&'5%)(E/" X16" -.*F(1/" %)" %3'/'*()-." [" +." 36.)%)" %/" 6." i&%:.&.-'&(." +'/+%"

Y(3%6."-&.F.b.C"["+%" 6H3I."X6.".3'*:.`."."*H3I.)"+%" 6.)".3-(L(+.+%)"+%",H&%p."." 6.)"]H%"

Y(3%6.".)()-%C!"

Y(3%6."["nH./"n')1"(/-%/-.&'/"+H&./-%"*H3I'"-(%*:'"-%/%&"I(b')K")(/"12(-'!",)-'"6%"

)(J/(5(3E" J&./+%)" +%)(6H)('/%)" [" 6." *./-HL'" .6%b.+." +%" 6." :.&-(3(:.3(E/" :'6W-(3." :'&" H/"

-(%*:'!" y(L%/" .3-H.6*%/-%" %/" 6." 3(H+.+" +%" iH%F6." bH/-'" 3'/" H/'" +%" 6')" I%&*./')" +%"

Y(3%6." ]H%" )H5&%" +%" %)]H(G'5&%/(.K" [" ]H%" 5H%K" -.*F(1/K" *H[" 3%&3./'" .6" I%&*./'"

+%).:.&%3(+'"[":.&-%"+%6"3'/-%2-'"+%"*'L(6(G.3(E/"%)-H+(./-(6!"Y(3%6.")%"I(G'"3.&J'"+%"16K"

-./-'"%3'/E*(3.*%/-%K"3'*'"%/"3H./-'"."3H(+.+')"[".-%/3('/%)"*1+(3.)!""

R%):H1)"+%".6JH/')".`')"+%".6%b.&)%"+%" 6.":.&-(3(:.3(E/":'6W-(3.K"Y(3%6.")%"%/-%&."

+%"H/"%L%/-'"%/"iH%F6.".6"]H%"(&W."R'`."P').&('"NF.&&."bH/-'"3'/"%6"T'*(-1"o,H&%p.q!"hH%"."

80

:.&-(&"+%"%)-%"&%%/3H%/-&'"]H%"Y(3%6.K"+%)+%"%6".`'"=88;K"3.+.":&(*%&")aF.+'"+%6"*%)K")%"

-&.)6.+."+%)+%"6."3(H+.+"+%"iH%F6."I.)-."%6"T%/-&'"m()-E&(3'"+%"6."T(H+.+"+%"012(3'"X."6."

VH:&%*."T'&-%" +%" nH)-(3(." +%" 6."O.3(E/C" :.&." &%3'&+.&" ." 6')" +%).:.&%3(+')" :'6W-(3')" +%6"

:.W)"["+%/H/3(.&"["%2(J(&")H":&%)%/-.3(E/!"m'[")%".)H*%"3'*'":.&-%"+%6"T'*(-1"o,H&%p.qK"

.6"3H.6K"+%)+%"*H3I'"-(%*:'".-&a)K"[.")%")%/-W."3%&3./.4"

#C(#*,# .+,0&.'.8(# 8(0#95),N"2#\508"#A.8,#50"# -(%.8.&5+# '()*"%?# $()]5,#0(# %"#A"6W"?# "+,*Y-?# $,)(#

+,-+,#"0&,-#+,#]5,#+,-"$"),8.,)"0#"#_"%,0&W0?#0(-(&)(-#;)"*(-#+,%#U),0&,#L(0&)"#%"#S,$),-./02#x#

0(# ;)"*(-# +,%# L(*.&;# M95),N"O?# ;)"*(-# +,%# U),0&,?# $,)(# ,%# U),0&,# ,)"# %(# ]5,# A(C# ,-# ,%# L(*.&;#

M95),N"O2# x# ,0&(08,-# t1u?# ,0# &;)*.0(-#+,#$,)&,0,08."?# C(# -.,*$),#*,# -,0&W# +,0&)(2# x# 85"0+(#*,#

7.0,#"#V5,6%"#,-&Y6"*(-#.45"%#+,0&)(#t1u#$()]5,#,%#U),0&,#&,0W"#-5-#()4"0.="8.(0,-#),4.(0"%,-?#C#

0(-(&)(-# t1u# 8(()+.0Y6"*(-# ,-"# ()4"0.="8./02t1u# I,-$5;-# C(#*,# -,0&W# '5,)"?# $()]5,# C"# 0(# '5.?#

$()]5,#C"#0(#,-&57,2#t1ub,#)(*$,#,-"#.+,0&.+"+2#V,)(#+,#]5,#C(#A,#,-&"+(#"%#&"0&(?#*,0&"%*,0&,#(#

,*(8.(0"%*,0&,?#*,#-.,0&(#.+,0&.'.8"+"#8(0#95),N"2#R50]5,#,0#%(#'()*"%#0(#A"C"#0"+"#]5,#+.4"#

]5,#C(#-(C2#x(#*,#-.,0&(#+,2#XY(3%6.K"=8#8C"

81

-'- P!7+5+!&D&T)5H#+(!&

"

si'&"]H1"%6".3%&3.&/')"."6."5.*(6(.t"i'&]H%K"%/":&(*%&"6HJ.&K"%)"6."5.*(6(."%6"3'/-%2-'"["6."

H/(+.+" )'3(.6"*a)" (/*%+(.-')" +%" %)-.)"*Hb%&%)" X[" +%" -5-# 5.*(6(.&%)" +%).:.&%3(+')CK" [" ."

:.&-(&" +%" )H" ./a6()()" 9+%" 6.)" &%6.3('/%)" ]H%" )%" +./" (/-%&/.*%/-%9" :'+&W.*')" -&.-.&" +%"

%/-%/+%&"3E*'" (*:.3-." 6."+%).:.&(3(E/"+%")H)" 5.*(6(.&%)"%/")H"L(+."3'-(+(./.K".)W" 3'*'"

-.*F(1/" 6.)" 3'/+(3('/%)"%/" 6.)"]H%" )H":.&-(3(:.3(E/":'6W-(3." )H&J(EK" .]H%66.)" 3'/+(3('/%)"

]H%"6."%6(3(-.&'/K"]H%"6."5.3(6(-.&'/"["-.*F(1/".]H%66.)"]H%"6."+(5(3H6-.&'/!",)"%)-."H/(+.+"

)'3(.6" 6." ]H%" &%:&%)%/-." -./-'" 6." %)-&H3-H&." X*(3&'C" %/" +'/+%" -(%/+%" ." &%:&'+H3(&)%" %6"

+()3H&)'" I%J%*E/(3'" +'*(/./-%" X*.3&'CK" .)W" 3'*'" -.*F(1/" %6" %):.3('" +'/+%" 6')"

)(J/(5(3.+')" +%" %)-%" c6-(*'" :H%+%/" )%&" 3H%)-('/.+')" [" &%/%J'3(.+')!" " Y" :.&-(&" +%" H/"

./a6()()"+%)+%"%)-."%)5%&.":'+&W./"3'*%/G.&"-.*F(1/"."3'*:&%/+%&)%"5%/E*%/')")'3(.6%)"

[":'6W-(3')"*a)".*:6(')!"Y+%*a)"+%")%&"%6" -%*."+%" 6."+%).:.&(3(E/"5'&G.+."H/":&'F6%*."

(/+H+.F6%*%/-%" :'6W-(3'" [" )'3(.6" +%" *.['&" %)3.6." ]H%" -(%/%" %5%3-')" %/" 6.)" :%]H%`.)"

H/(+.+%)")'3(.6%)K"3'*'"6'"%)"6."5.*(6(."9.+%*a)"+%")H"(*:.3-'")'3(.6"."*.['&"%)3.6.9K"%)"

%)-." c6-(*." -.*F(1/" H/." %):%3(%" +%" %):%b'" +%" 6'" ]H%" .3'/-%3%" ." /(L%6" *.3&'K" %/" 6."

)'3(%+.+!" ,2()-%K" :H%)K" H/." &%6.3(E/" %)-&%3I." %/-&%" 5.*(6(." [" )'3(%+.+K" %/-&%" 5.*(6(." ["

)()-%*.)"["'&J./(G.3('/%)":'6W-(3')K"%/-&%"5.*(6(."[",)-.+'!",)"%/"6."5.*(6(."+'/+%":H%+%/"

%/3'/-&.&)%"X:&'+H3(+')"[M'"&%:&'+H3(+')C"+()3H&)')"[":&a3-(3.)"I%J%*E/(3')"]H%"I.F6./"

+%"H/"'&+%/")'3(.6"*a)".*:6('K"*.3&'!"O'")%":&%-%/+%"+%3(&"3'/"%66'K"3'*'"F(%/"6'"+(3%"

i(6.&" T.6L%(&'" %/" H/" %)-H+('" )'F&%" 5.*(6(.)" *%2(3./.)@<K" ^]H%" 6')" :&'3%)')" X!!!C" %/" %6"

%):.3('"5.*(6(.&":H%+./"%2-&.:'6.&)%"+%"*./%&."*%3a/(3."."6.)"+()-(/-.)":&a3-(3.)")'3(.6%)"

[":'6W-(3.)K"/("."6."(/L%&)._K")(/'"]H%"")%""

"

-5-&,0&"# %"# .+,"# +,# ]5,# '"*.%."# C# -(8.,+"+# -(0# Y*6.&(-# $)('50+"*,0&,# .0&,)8(0,8&"+(-?# ]5,#

H),-5,0"0K# ,0# '),85,08."-# "'.0,-# C# ,0# %(-# ]5,# -,# D5,4"0# ),%"8.(0,-# +,# $(+,)# ]5,# &)"-$"-"0# %"-#

')(0&,)"-?#.0&,)$,0,&)"0+(#%(-#,-$"8.(-#&"0&(#$X6%.8(-#C#$).7"+(-2#90#8(0-,85,08."?#%"-#,-&)"&,4."-?#

*,8Y0.8"-#C#$)(8,+.*.,0&(-#+,%#$(+,)#C#%"#),-.-&,08."#]5,#-,#,*$%,"0#+,0&)(#+,#%"#'"*.%."#$5,+,0#

@<" ,/"%)-%"-&.F.b'"%6"'Fb%-(L'"5H%"".I'/+.&"%/"&%6.3('/%)"+%":'+%&"[")H)"&%):%3-(L.)"&%)()-%/3(.)K"-'*./+'"

3'*'"6HJ.&"+%"'F)%&L.3(E/"."6."5.*(6(.!",)-'"6'"I(G'".":.&-(&"+%"I()-'&(.)"+%"L(+."+%"5.*(6(.)"*%2(3./.)"+%"6."T(H+.+"+%"012(3'!"

82

-54,).)?#,8A")#%5=#,#.08%5-(#,<$%.8")#"%450(-#+,#,-&(-#*.-*(-#.0&,)8"*6.(-#,0#Y*6.&(-#*Y-#"*$%.(-#

+,#%"#-(8.,+"+2"XT.6L%(&'K"=88A4"<C""T'/" %)-'" ]H(%&%" +%3(&)%" ]H%" /'" )%" I.F6." +%" 6." &%:&'+H33(E/" 5(%6" +%" H/" .5H%&." %/" H/"

.+%/-&'!"D'"]H%":.)."%/"H/."5.*(6(.K"6.)"&%6.3('/%)"9&%6.3('/%)"+%":'+%&"(/%L(-.F6%*%/-%9"

]H%")%")H)3(-./"[")%"+%).&&'66./"+%/-&'"+%"%66."X:'&"%b%*:6'K"%/-&%"I'*F&%)"["*Hb%&%)CK"/'"

)'/"*%&.)" &%:&'+H33('/%)" +%" &%6.3('/%)" ]H%" )H3%+%/" %/" %)5%&.)"*a)" .*:6(.)K" %2-%&/.)"

X:'&" %b%*:6'K" %/-&%" ,)-.+'" [" )'3(%+.+M(/+(L(+H')C!" 0a)" F(%/" )'/" %)-.)" &%6.3('/%)"

3'/3&%-.)"]H%".3'/-%3%/"%/"%6")%/'"+%"6."5.*(6(."X%/"%)-%"3.)'"%/":.&-(3H6.&CK"%/":.6.F&.)"

+%"0(3I%6"h'H3.H6-K"^%6")H%6'"*'L%+(G'"["3'/3&%-'")'F&%"%6"]H%"%)%":'+%&")%"(/3.&+(/.K"6.)"

3'/+(3('/%)"+%":')(F(6(+.+"+%")H"5H/3('/.*(%/-'!"D." 5.*(6(.K" (/36H)'"I.)-."/H%)-&')"+W.)K"

/'"%)"%6" )(*:6%" &%56%b'K" %6" :&'6'/J.*(%/-'"+%6":'+%&"+%6" ,)-.+'!" X!!!C" i.&."]H%"%6" ,)-.+'"

5H/3('/%" 3'*'" 5H/3('/." %)" /%3%).&('" ]H%" I.[." X!!!C" &%6.3('/%)" +%" +'*(/.3(E/" F(%/"

%):%3W5(3.)" ]H%" -(%/%/" )H" 3'/5(JH&.3(E/" :&':(." [" )H" &%6.-(L." .H-'/'*W._!" Xh'H3.H6-K" %/"

T.6L%(&'K"=88A4"@8C",/" 6." 5.*(6(." )%" &%:&'+H3%/K":%&'" -.*F(1/")%":&'+H3%/"[" )%" &'*:%/"

+()3H&)')"[":&a3-(3.)"I%J%*E/(3.)"+%"5'&*.)":.&-(3H6.&%)!" ",)"%/"%)-%"%):.3('"9+%" W/+'6%"

.:.&%/-%*%/-%"*a)" :&(L.+." ]H%" :cF6(3.9" +'/+%" 6'" :cF6(3'" 3'F&." 3H%&:'" :&':('K" +'/+%"

3(&3H6./"(/L.&(.F6%*%/-%"&%6.3('/%)"+%":'+%&"]H%"/'":H%+%/"3'/3%F(&)%"3'*'".b%/.)"."6.)"

]H%"3(&3H6./"%/"6.")'3(%+.+!"D."5.*(6(."^%)-a"%/"*%+('"+%"6.")'3(%+.+"["%)":.&-%"+%"%66.K".)W"

3'*'"6.")'3(%+.+"*()*.":H%+%"%/3'/-&.&)%".6"*(&.&"6."5.*(6(.K")(/"&%+H3(&)%"H/."."6."'-&.!_"

V%" 3'/5'&*.K" ^%/" )H" (/-%&('&K" H/." 3'*:6%b." &%+" +%" LW/3H6')" +(5%&%/3(.+')" :%&'" ]H%"

JH.&+./")(/-'/W.K":')(F(6(-./K"&%:&'+H3%/"["-.*F(1/"-&./)5'&*./"6.)"&%6.3('/%)"+%":'+%&"

)'3(.6%)"[":'6W-(3.)_!"XT.6L%(&'K"=88A4"@8C"

Y)WK" %/"%)-%"%):.3('K" )%"J%/%&./" &%6.3('/%)" 3.)(" )(%*:&%".)(*1-&(3.)" X%/"+()-(/-')"

J&.+')C"%/-&%"I'*F&%)"["*Hb%&%)K"%/-&%":.+&%)"%"I(b')K"%/-&%"3E/[HJ%)K"%/-&%"I%&*./')K"

%-3K"]H%"bHJ.&a/"H/":.:%6"%):%3W5(3'"%/"6.)":')(F(6(+.+%)K"%/"6.)"+(5(3H6-.+%)"["%/"6.)"5'&*.)"

+%" :.&-(3(:.3(E/":'6W-(3." +%" %)-.)"*Hb%&%)!" Y)(*%-&W.)" ]H%"/'":H%+%/"+%)6(J.&)%" +%" H/."

3H6-H&." )HF[.3%/-%K" 3'/" +(/a*(3.)" )'3(%-.6%)" [" :'6W-(3.)" I()-E&(3.)" +%-%&*(/.+.)!" ,6"

(*:.3-'" ]H%" H/" )H3%)'" L('6%/-'" [" +%" -./-." 3.&J." :'6W-(3.K" 3'*'" 6'" %)" 6." +%).:.&(3(E/"

5'&G.+." +%" :%&)'/.)K" -(%/%" .6" (/-%&('&" +%" H/." 5.*(6(.K" :H%+%" .3%/-H.&K" +%)%)-.F(6(G.&K"

&%3'/5(JH&.&"*H3I.)" +%" 6.)" +(/a*(3.)" (/-%&/.)!" ,)" +%3(&4" :'/%" %/" %L(+%/3(." [" I.F6." +%"

83

%)-.)"&%6.3('/%)":&%9%2()-%/-%)"]H%":H%+%/"-.*F(1/")%&K".")H"L%GK"&%:&%)%/-.-(L.)"+%"H/."

&%.6(+.+")'3(.6"*a)".*:6(.K"H/"*(3&'3')*')"]H%":H%+%"I.3%&"6.)"L%3%)"+%"-%&*E*%-&'"+%"

6'"]H%"%)-%"5%/E*%/'"["3&(*%/"+%",)-.+'":H%+%"I.3%&6%"."H/"-%b(+'")'3(.6K"."H/.")'3(%+.+"

%/"J%/%&.6!"D." '"*.%."K".+%*a)"+%")%&"H/'"+%" 6')"3'/3%:-')"]H%":H%+%"-.*F(1/".+':-.&"

/H%L')" )(J/(5(3.+')K" +(/a*(3.)" [" 3'/-%/(+')" %/" %)-%" 3'/-%2-'" +%" &%:&%)(E/K" &%:&%)%/-.K"

-.*F(1/K"6."L%/-./.K"6."F().J&."]H%"H/%"L.&(')"+%"6')"a*F(-')"*%/3('/.+')!"D'".5%3-(L'K"6'"

:'6W-(3'K"6'":&(L.+'"["6'":cF6(3'"3'/L%&J%/!",/":.6.F&.)"]H%"nH+(-I"h(63K"]H%"I.F6."+%)+%"%6"

3'/-%2-'"+%"6."+(3-.+H&.".&J%/-(/.4"

"

L5"0+(#&(+"-#%"-#),%"8.(0,-#-(0#$(%.&.="+"-#+,-+,#")).6"?#-,#+,-"))(%%"0#05,7(-#%"=(-#]5,#*,=8%"0#

%(-#*50+(-#$X6%.8(#C#$).7"+(?# ),7,%"0+(#"-W# %"#")6.&)").,+"+#+,#,-&"#+.7.-./02#L),(#]5,# %"# '"*.%."#

8(*(#.0-&.&58./0#C#8(*(#.+,(%(4W"#),-5%&"#50#-.&.(#*5C#X&.%%#$")"#,%#,-&5+.(#+,#,-&,#$)(8,-(?#$5,-&(#

]5,# ,-# +,-+,# -5# ().4,0# ,0# %"# 85%&5)"# (88.+,0&"%# 50"# ()4"0.="8./0# %.*.0"%# ]5,# -,# A"%%"# ,0&),# %(#

h0"&5)"%h# C# %(# h85%&5)"%h2# R# %"# 7,=?# %"# '"*.%."# ,-# 7.-&"# 8(*(#,%# ,-$"8.(#$).7"+(#$()# ,<8,%,08."# ,0# %"#

&,()W"#-(8."%2#Xh(63K"#<<?4"@=C"#

,/"3'/-%2-')"+%"&%:&%)(E/K" 6."5.*(6(." bH%J."H/"&'6"*H["(*:'&-./-%"%/"L.&(')")%/-(+')!",/"

:&(*%&"6HJ.&K":'&]H%"+%)+%".&&(F.")%"6%":'6(-(G."[")%"6%"3'/)(+%&."3'*'"F.)%")'3(.6"+%"6')"

J&H:')"^)HFL%&)(L')_!",6"%b%*:6'":.&.+(J*a-(3'"%)"%6"+%"3'*H/(+.+%)"%/"ZH%&&%&'"%/"6.)"

]H%" %6" :'&-.&" H/" .:%66(+'" X3'*'"%6" +%" T.F.`.)C" )%" 3'/L(%&-%" %/" &.GE/" ^)H5(3(%/-%_" :.&."

+%).:.&%3%&K"-'&-H&.&K".)%)(/.&"'"%/3.&3%6.&!"",6".-.]H%"."6.)"5.*(6(.)"X]H%"5H/J%/"*H3I.)"

L%3%)" 3'*'"F.)%)" +%" .:'['C" )%" LH%6L%"H/." %)-&.-%J(." :.&." .3.F.&" 3'/" 6." +()(+%/3(.!" ,/"

%)-%" )%/-(+'K" 6." +%)(/-%J&.3(E/" +%" &%6.3('/%)" 5.*(6(.&%)" X:'&" 6." +%).:.&(3(E/" +%6" )%&"

]H%&(+'"["6H%J'":'&"6.)"+(5(3H6-.+%)"(/-&.5.*(6(.&%)"]H%"%)-%")H3%)'"+%-'/.C"%)"H/'"+%"6')"

F6./3')"+%"6."&%:&%)(E/!" "|"/'")E6'")%":'6(-(G.":'&"%6"I%3I'"+%"(/-%&L%/(&"+(&%3-.*%/-%"%6"

,)-.+'" :'&" *%+('" +%" 6." 5H%&G.K" +%" &%3H&)')" 3'%&3(-(L')" (6%JW-(*')" :%&'" :'&" 16" *()*'"

6%J(-(*.+')K")(/'":'&"5(6-&.&)%K"3'*'")%"L%&aK"%6"3'/-&'6"I%J%*E/(3'"%/"%6"+()3H&)'"(/-%&/'"

+%/-&'"+%"6.)"+(/a*(3.)"(/-%&/.)K"%)"+%3(&K"%/"6.":&(L.3(+.+"+%"6'"+'*1)-(3'!"

,/")%JH/+'"6HJ.&K":'&]H%"%)"%/"%6"a*F(-'"+%"6'"5.*(6(.&"]H%":H%+%")'F&%66%L.&)%"6."

&%:&%)(E/" [" &%:&'+H3(&)%" 6." &%)()-%/3(.!" $.*F(1/" :H%+%/" )%&" 6.)" &%+%)" 5.*(6(.&%)"

:&%%2()-%/-%)"9'"6."5.6-."+%"1)-.)9"6.)"]H%":%&*(-./"9'"+(5(3H6-%/9"6.":.&-(3(:.3(E/":'6W-(3.!""

84

$%&3%&'K" :'&]H%" )'/" 6')" *()*')" 6.G')" 5.*(6(.&%)" [" %6" .5%3-'" )H&J(+'" +%" 1)-')" 6')" ]H%"

5H/J%/"3'*'"*EL(6K"*'-'&"+%"6H3I.K"["+./"6HJ.&"."6')"/H%L')".3-'&%)")'3(.6%)"[":'6W-(3')"

+%"6')"]H%"%)-.*')"I.F6./+'!"D')"&'6%)"L(/3H6.+')"."%)-')"6.G')")'/"6')"]H%"+./"6.":.H-."

+%".33(E/!"

TH.&-'K":'&]H%"6')"&'6%)"["+(/a*(3.)"+%"6.)"5.*(6(.)K".":.&-(&"+%"6."+%).:.&(3(E/#+%6"

)%&"]H%&(+'K"3.*F(./"&.+(3.6*%/-%"%/"*H3I')"3.)')!""

|" :'&" c6-(*'K" %/" ]H(/-'" 6HJ.&K" :'&]H%" /'" )E6'" I.[" &H:-H&." %/" 6." 5.*(6(.!" D.)"

I()-'&(.)" +%" &%:&%)(E/" 3'*:.&-(+.)" :H%+%/" 3'/)-&H(&" /H%L')" 6.G')!" ,/" 6')" J&H:')9

3'*H/(+.+B8" +%" 5.*(6(.&%)" +%" +%).:.&%3(+')# -.*F(1/" :H%+%/" 3&%.&)%" LW/3H6')" ]H%" )%"

.)%*%b./"."[":H%+%/")(J/(5(3.&)%"3'*'"6')"^/.-H&.6*%/-%_"5.*(6(.&%)!"""

B8"0a)" .+%6./-%" )%" .I'/+.&a" %/" %6" :'&]H1" +%" 3'/)(+%&.&" ." %)-." '&J./(G.3(E/" %/" :.&-(3H6.&K" %6" T'*(-1"

o,H&%p.qK"3'*'"H/.")H%&-%"+%"J&H:'93'*H/(+.+!"

85

-'-'. U!&V!7+5+!B&5)&W0+*!,)B&5)&WXO5+()&D&5)&W)5H#+()>&?Q7O+#)%&$Y(5;D$"#$%E&&

#

^R%"3H.6]H(%&"*'+'"]H%"H/'"6.)"+%5(/.K"6.)":.6.F&.)"Ç:&(L.+'Ç"["Ç:cF6(3'Ç"5H/3('/./"3'*'"

':H%)-.)K"3'/)-(-H[%/+'"H/."+(3'-'*W."]H%")%"I.66."%/"%6"/c36%'"+%"6.)":&%JH/-.)".3%&3."

+%"6."'&J./(G.3(E/"["6."+(/a*(3.")'3(%-.6%)!"Y":.&-(&"+%"%)-."+(3'-'*W."%*%&J%K"%/-'/3%)K"

H/.")%&(%"+%"':')(3('/%)"-.6%)"3'*'")'3(.6M:'6W-(3'K"*'&.6M:'6W-(3'K"/.-H&.6M3'/L%/3('/.6"["

5%*%/(/'M*.)3H6(/'!_"Xh(63K"#<<?4"#?C"

"

nH+(-I"h(63"I.3%K"%/")H"6(F&'"90&),#,%#V"),0&,-8(#C#%"#V(%W&.8"K"H/"&%3'&&(+'"I()-E&(3'"+%"6.)"

+()-(/-.)"3'/3%:3('/%)"+%"^6'":&(L.+'_"["^6'":cF6(3'_K"&%6.3('/a/+'6.)"3'/"3'/3%:-')"3'*'"

^6'":'6W-(3'_K"^)'3(%+.+"3(L(6_"["^5.*(6(._!"D.)"+()-(/-.)"5'&*.)"+%"%/-%/+%&"%)-.)"3.-%J'&W.)"

+(3%" *H3I'K" )%Jc/" %)-." .H-'&.K" .3%&3." +%" :&'3%)')" [" 3'/-%2-')" I()-E&(3')K" )'3(.6%)" ["

:'6W-(3')K" [" -.*F(1/" )'F&%" :')-H&.)" &%6.3('/.+.)" 3'/" %6" 36a)(3'" +%F.-%" )'F&%" 0"&5)"# ["

85%&5)"2##

#

:Y-#"X0?#(&)(-#8(08,$&(-#),%"8.(0"+(-#&"%,-#8(*(#h-(8.,+"+#8.7.%h?#h%(#$(%W&.8(h#C#h%"#'"*.%."h#8"*6."0#

+,#-,0&.+(#C#-,#-5$,)$(0,0#8(0#h$).7"+(h#C#h$X6%.8(h2#9-&"-#7")."8.(0,-#+,$,0+,0#+,#$50&(-#+,#7.-&"#

+.7,)-(-#"8,)8"#+,%#().4,0#+,#%"#()4"0.="8./0#$(%W&.8"#C?#,0#$")&.85%")?#+,#%"#'()*"#+,#()4"0.="8./0#

+,%# 9-&"+([0"8./0?# "-W# 8(*(# +,# 8(08,$8.(0,-# +.-&.0&"-# +,# %(# ]5,# ,-# h0"&5)"%*,0&,h# A5*"0(?# "#

+.',),08."#+,#%(#]5,#,-#$)(+58&(#+,#%"#8(07,08./0?#%"-#),%"8.(0,-#+,#$(+,)?#Cw(#,%#8"*6.(#A.-&/).8(2""Xh(63K"#<<?4"#?C""P%-'*%*')"6."(+%."+%"6'"^:cF6(3'"^["^:&(L.+'_".":.&-(&"+%6"/.3(*(%/-'"+%6",)-.+'9/.3(E/"

*'+%&/'" [" 6." -%'&W." +%*'3&a-(3." 6(F%&.6!" ,6" %):.3('" :cF6(3'K" ." :.&-(&" +%" %/-'/3%)K" %)"

.)'3(.+'"3'/"%6",)-.+'"["3'/"6.".3-(L(+.+":'6W-(3.!"^D'":'6W-(3'_"%)"%/-%/+(+'"3'*'"%6"a&%."

%/"6."3H.6"%6",)-.+'"(/-%&.3-c."3'/"6')"3(H+.+./')!"Xh(63K"#<<?C"R%)+%"%)-.":%&):%3-(L.K"6'"

:&(L.+'"%)"+%)6(/+.+'"+%"6'":'6W-(3'!"

i.&."0.&2K"6'":cF6(3'"%]H(L.6%".6",)-.+'"-.*F(1/K":%&'K".6")%&"1)-%"H/"(/)-&H*%/-'"

+%"6."36.)%"+'*(/./-%K")'/"6.)"&%6.3('/%)"+%":&'+H33(E/"+%/-&'"+%6"*H/+'":&(L.+'"6.)"]H%"

6'" 3'/-&'6./!" ^D.)" &%6.3('/%)" +%" :'+%&" )'/" :&'+H3(+.)" [" &%:&'+H3(+.)" %/" %6" /(L%6" +%" 6."

)'3(%+.+" 3(L(6K" %)-'" %)K" +%/-&'" +%" 6." %)5%&." :&(L.+.K" ]H%" )%Jc/" 6." -%'&W." 6(F%&.6" )%" I.66."

.:.&%/-%*%/-%"5H%&."+%"6'":'6W-(3'!_"Xh(63K"#<<?4"=8C"

86

,)-.)"+')"(+%.)K"."*("*'+'"+%"L%&K"%)-a/"+(&%3-.*%/-%"&%6.3('/.+.)"3'/"6."I()-'&(."

+%"3'6'/(.6()*'K" (*:')(3(E/"["L('6%/3(."%/"6."]H%"Y*1&(3."D.-(/."9(/36H(+'K":'&")H:H%)-'K"

012(3'9" 3'/)-&H[E" J&./" :.&-%" +%" )H)" (+%/-(+.+%)" /.3('/.6%)" [" +(/a*(3.)" )'3(':'6W-(3.)!"

,)-'" %)" /%3%).&('" :.&." 3'*:&%/+%&" 6." 3'/)-&H33(E/" +%" H/." )'3(%+.+" 3(L(6" )%:.&.+." +%6"

,)-.+'K"+%"6."%)5%&.":'6W-(3.!"

,)3'F.&K" r6L.&%G" [" R.J/(/'" 3'*:6%*%/-./" %)-." (+%." +(3(%/+'" ]H%" 6.)" 16(-%)"

6.-(/'.*%&(3./.)"+%6")(J6'"xNx".:&'L%3I.&'/"H/"6(F%&.6()*'"I%&%+.+'"+%",H&':."["Y*1&(3."

+%6" O'&-%" 9]H%" 66.*./" ^6(F%&.6()*'" 5H%&." +%" 6HJ.&_9" :.&." 3'/)%&L.&" H/" :'+%&" :'6W-(3'"

F.).+'" %/" 6." %236H)(E/!" ^!!!" 6.)" &%6.3('/%)" :'6W-(3.)" )%" :%&3(F%/" 3'*'" %2-%/)(E/" +%" 6.)"

:&(L.+.)" " 9(*:6(3." ]H%" :&%L.6%G3./" %6" 5.L'&(-()*'K" %6" :%&)'/.6()*'K" %6" 36(%/-%6()*'" [" %6"

:.-%&/.6()*'"3'*'":&a3-(3.)!"X!!!C"T'*'"3'/)%3H%/3(.K"6')"J&H:')")HF.6-%&/')"["%236H(+')"

66%J.&'/"."3'/)(+%&.&"]H%" 6.":'6W-(3."%&." Ç.)H/-'":&(L.+'Ç"+%" 6.)"16(-%)K"3'/+H3(%/+'"."H/"

%/'&*%"+()-./3(.*(%/-'"%/-&%")'3(%+.+"3(L(6"[")'3(%+.+":'6W-(3.!_"X,)3'F.&"%-".6K"=88#4"#@C"

D'":'6W-(3'K".)WK")%"%/-(%/+%"3'*'"%2-%/)(E/"+%"6'":&(L.+'K":%&'"%236H)(L'"+%"6."16(-%!"Y)WK"6'"

:&(L.+'"/'":%&-%/%3(%/-%"."6."16(-%K"%)"+%3(&K"6.")'3(%+.+"3(L(6"*.['&(-.&(.K")%")%:.&."+%"6'"

:'6W-(3'!"D."5.*(6(.":'+&W."(+%/-(5(3.&)%"3'*'"H/."+%"6.)"H/(+.+%)"&%:&%)%/-.-(L.)"+%"%)-."

)'3(%+.+"3(L(6!""

P%):%3-'"." 6." &%6.3(E/"+%" 6." 5.*(6(." 3'/" 6'":cF6(3'"[" 6'":&(L.+'K"T.6L%(&'" -.*F(1/"

I.3%" H/" :%]H%`'" &%3H%/-'" +%" 6.)" +()-(/-.)" X[" .6JH/.)" /'" -./" +()-(/-.)C" 3'/3%:3('/%)!"

R%)+%"6."Y/-(J~%+.+K".5(&*.K")%"I.3W."[."H/."36.&."+()-(/3(E/"%/-&%"%6".5H%&."["%6".+%/-&'K"

%/-&%" 5.*(6(." [" 6." )'3(%+.+"%/" 6."]H%"1)-."%)-.F." (/*%&).d" :%/).+'&%)" 3'*'"Y&()-E-%6%)"

3'/)(+%&.F./"."6."5.*(6(."H/."^316H6.":&(*%&."["3'/)-(-H-(L."+%"6.")'3(%+.+K"H/.":%]H%`."

)'3(%+.+" +%/-&'" +%" '-&." *.['&" ." 6." ]H%" I.FW." +.+'" '&(J%/K" .H/]H%" +(5%&%/3(.F./" ["

b%&.&]H(G.F./K"*H["%2:6W3(-.*%/-%K"H/."3'/"&%):%3-'"+%"6."'-&.!_""XT.6L%(&'K"=88A4"=?C!",/"

6." 0'+%&/(+.+K" ^6." -,$")"8./0# 8),8.,0&,# %/-&%" 6')" %):.3(')" :cF6(3'" [" :&(L.+'K" 66%LE" ."

%/5.-(G.&" %6" 3.&a3-%&" :.&-(3H6.&" +%" 6." 5.*(6(." 3'*'" a*F(-'" +%" 6.)" &%6.3('/%)" W/-(*.)K" +%"

:.&%/-%)3'"["3'/L(L%/3(.K"F.).+.)":&(/3(:.6*%/-%"%/"%6".*'&"["6.")'6(+.&(+.+_!"XT.6L%(&'K"

=88A4" =?C" ,)-." 36.&." [" 3&%3(%/-%" )%:.&.3(E/" )%" &%6.3('/.K" :.&.+EJ(3.*%/-%K" 3'/" 6')"

3.*F(')"%/"6."%)-&H3-H&."+%"6."5.*(6(."*%)'.*%&(3./.4"^Y&&'*"+%)3&(F%"3E*'"6')"3.*F(')"

87

%/" %6" TE+(J'" T(L(6" +%" #;?8" [" #;;B" .5%3-.&'/" ." 6." 5.*(6(." *%2(3./.K" %/5.-(G./+'" 6')"

+%&%3I')"+%6"(/+(L(+H'K":%&'"%/-&%J./+'"*a)":'+%&".6",)-.+'"%/"6."5'&*."+%"6')")()-%*.)"

bH+(3(.6%)"["%)3'6.&%)"[K"."6."L%GK"+()*(/H[%/+'"6."(*:'&-./3(."+%"6(/.b%"["%6"*.-&(*'/('!_"

XV.H6-"=88A4"A8=C"|"+(J'"^:.&.+Eb(3.*%/-%_K":'&]H%":&%3().*%/-%"%/"%)-%":&'3%)'"%)"]H%"

%6" ,)-.+'" [" 6')" :&'3%)')" [" 3.*F(')" :'6W-(3')K" 6%J.6%)" [" %3'/E*(3')" %)-a/" 36.&." ["

+(&%3-.*%/-%"(/L'6H3&.+')"["bH)-.*%/-%"/'")%:.&.+')"+%6"a*F(-'"5.*(6(.&"[")H)"+(/a*(3.)"

[":&'3%)')"^(/-%&/')_!"^Yc/"I'[K"+%):H1)"+%"6."5H%&-%"%*F%)-(+."+%6",)-.+'"(/-%&L%/-'&"%/"

6')" %):.3(')" 3'/)(+%&.+')" 36a)(3.*%/-%" 3'*'" :&(L.+')_" XT.6L%(&'K" =88A4" =?CK" )(JH%"

%2()-(%/+'"H/."/'3(E/":&%+'*(/./-%"+%"]H%"%/" 6." %)5%&.":&(L.+." .3'/-%3%/" )(-H.3('/%)"

^+'*1)-(3.)_" (/+%:%/+(%/-%)" +%" 6." %)5%&." :cF6(3.K" 3'*'" )%&W.K" :'&" %b%*:6'K" 6."

(/-%&L%/3(E/"6%J.6!"

,2()-%/K")(/"%*F.&J'K"-.*F(1/"]H(%/%)"+%)*(%/-%/"%)-."+(L()(E/!"y./(."+%"V.66%)")%"

&%5(%&%" ." " +(3I." )%:.&.3(E/" 3'*'" ^50(# +,# %(-# *.&(-" ]H%" %/LH%6L%/" ." 6." 5.*(6(."

3'/-%*:'&a/%.K"["]H%"66%L.".")H"J6'&(5(3.3(E/"3'*'"%):.3('":&(L(6%J(.+'"+%").-()5.33(E/"["

&%.6(G.3(E/":%&)'/.6K"3'/"k5&'/-%&.)"36.&.*%/-%"+%*.&3.+.)"%/-&%"6."5.*(6(."["%6"&%)-'"+%"6."

)'3(%+.+"X3H./+'"%/"&%.6(+.+C"%)-a"3'/-(/H.*%/-%"%/"%6"3%/-&'"+%"6."3'/-&'L%&)(.":cF6(3."

["%)"5'3'":&(L(6%J(.+'"+%"6."(/-%&L%/3(E/"+%6",)-.+'"[")H)"+%:%/+%/3(.)!l_"XT.6L%(&'K"=88A4"

=;C",/"%)-."*()*."+(&%33(E/K"D%`%&'"Q-%&'"I.F6."+%"6."F.)%")'3(.6"+%"6."5.*(6(.!"V("F(%/"1)-."

]H%+." 3'*'" .:.&%/-%*%/-%" 5H/+.+." %/" 3'/L%/(')" %*'3('/.6%)" [" .*'&')')K" )%"

%)-&H3-H&.")'F&%"F.)%)"*a)")'3(.6%)"]H%"(/+(L(+H.6%)!"XT.6L%(&'K"=88AC"

D."3&W-(3."5%*(/()-.&L.":&%3().*%/-%"%/3.*(/.+.".6"I%3I'"+%")%:.&.&"6'"+'*1)-(3'"

["6'":&(L.+'"+%"6'":'6W-(3'!",)-."3&W-(3.":&%)H:'/%"]H%"^6'":&(L.+'_"."^6'":cF6(3'_"%)"6'"]H%"

^6'"+'*1)-(3'_".6"^,)-.+'_!"V%"3'/)(+%&.K"+%/-&'"+%"%)-%"*.&3'K"]H%"6.)"&%6.3('/%)"+%/-&'"

+%6"a*F(-'"+'*1)-(3'"+%F%/"(/36H(&)%"%/"%6"3'/3%:-'"+%"^6'":cF6(3'_!""D.)"5%*(/()-.)"^I./"

./.6(G.+'"%6"3'/-&'6"%)-.-.6"."-&.L1)"+%"6."5.*(6(."[".)W"&%L%6.+'"X!!!C"6."(6H)(E/"+%"H/"%):.3('"

:&(L.+'"[":&'-%J(+'!Ç_"Xh(63K"#<<?4"==C""

"

h!(# $,)-(0"%# ,-# $(%W&.8(h?# %,*"# ,*6%,*Y&.8(# +,# %"# ,'5-.7"# -,450+"# (%"# ',*.0.-&"?# ,08,))/# ,0# -W#

*.-*(#),',),08."-#.*$%W8.&"-#"#%"#+,-.45"%#+.7.-./0#+,#%"#-(8.,+"+#,0#+(-#50.7,)-(-#A"-&"#,0&(08,-#

.*"4.0"+(-#8(*(#&(&"%*,0&,#-,$")"+(-#,# .0+,$,0+.,0&,->#50(#[%(#$X6%.8([#,0#+(0+,#-,#"&.,0+,0#

%(-#"-50&(-#&)"-8,0+,0&,-#+,#%"#$)(+588./0#C#%"#,%"6()"8./0?#%,4.-%"8./0#C#"$%.8"8./0#+,#%"-#$(%W&.8"-#

88

$X6%.8"-p# C# (&)(# [%(# $).7"+([# ,0# +(0+,# -,# ()4"0.="# C# ),$)(+58,# %"# 7.+"# '"*.%.")# +.")."# C#

4,0,)"8.(0"%2#t222u# h%(#$,)-(0"%#,-#$(%W&.8(h#B2223#$,)*.&./#"-W#,<$%()")#+,-+,#%"#,<$,).,08."#',*,0.0"#

.0+.7.+5"%#C#8(%,8&.7"#%(-#*X%&.$%,-#,-%"6(0,-#+,#")&.85%"8./0#,0&),#%"#7.+"#8(&.+."0"#+,#%"-#*5D,),-?#

%"#$(-.8./0#-56()+.0"+"#+,%#4;0,)(#',*,0.0(#C#%(-#,D,)8.8.(-#+,#$(+,)#$"&).")8"%#%"&.0("*,).8"0(-#

8(0&,*$()Y0,(-?#,0#,-$,8."%# %(-#5)6"0(-#+,# %"#8%"-,#*,+."2# X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@=9@@C"",/":.6.F&.)"+%"i(6.&"T.6L%(&'4"""b,# $5,+,# ),8(0(8,)# z50# %.4"*,0# C# "# %"# 7,=# 50"# )5$&5)"y# ,0&),# %(# $X6%.8(# C# %(# $).7"+(?# ,0&),# %(#

'"*.%.")?# %(# -(8."%# C# %(# $(%W&.8(2# 90# ,-&,# -,0&.+(?# -,# $(+)W"# 8(08,$&5"%.=")# "# %"# '"*.%."# 8(*(# 50#

-.-&,*"#"5&(()4"0.="+()#t222u?#]5,#+.-&.045.;0+(-,#+,%#"*6.,0&,#-(8."%#C#"+]5.).,0+(#"5&(0(*W"?#"#

%"#7,=#-,#%.4"#"#;%#"*$%."0+(#-5#"$,)&5)"#C#-5-#.0&,)8"*6.(-#8(0#;-&,2#b,#8(0'()*"#"-W#50"#),%"8./0#

"*6.7"%,0&,?#+,#"5&(0(*W"#C#+,$,0+,08."#-.*5%&Y0,"-2#t1u#%"#'"*.%."#0(#$5,+,#$,)*"0,8,)#"D,0"#

"# 6.)"&%6.3('/%)"+%":'+%&#]5,#8.)85%"0#,0#%"#-(8.,+"+2#L(0'()*"?#,0#-5#.0&,).()?#50"#8(*$%,D"#),+#

+,# 7W085%(-# +.',),08."+(-# $,)(# ]5,# 45")+"0# -.0&(0W"?# $(-.6.%.&"0?# ),$)(+58,0# C# &"*6.;0#

&)"0-'()*"0#%"-#),%"8.(0,-#+,#$(+,)#-(8."%,-#C#$(%W&.8"-2#XT.6L%(&'K"=88A4"@8C""

P%6.3('/.+'" 3'/" %)-%" 6(J.*%/K" D.J.&+%" X#<<8C" .5(&*." ]H%" %)" +%/-&'" +%" 6')" J&H:')"

+'*1)-(3')" X]H%" %/" %)-')" @" 3.)')" )W" (*:6(3./" 3'&&%)(+%/-%)" %*:.&%/-.+')" [" 6.G')"

5.*(6(.&%)C"]H%")%"+."H/.".&-(3H6.3(E/"+%6"*H/+'"+%"6."&%:&'+H33(E/"3'/"6.":&'+H33(E/K"["

+%" 6'" :cF6(3'" 3'/" 6'" :&(L.+'d" )%" +." 6." (/-%&L%/3(E/" +%6" ,)-.+'" %/" 6'" :&(L.+'!" ,/" %)-%"

)%/-(+'K":'+&W."+%3(&)%"]H%")%"LH%6L%"H/".)H/-'":cF6(3'!"

D'"]H%"%)"(*:'&-./-%"&%-'*.&"+%"%)-.)"+()3H)('/%)K":.&."*'-(L')"+%"%)-%"-&.F.b'K"

%)".]H%66'"]H%"h(63".5(&*.4"^%)"/%3%).&('"+%5(/(&"6'":'6W-(3'"%/"-1&*(/')"]H%"+(5(%&%/"+%"6')"

-&.+(3('/.6%)K"&%%L.6H./+'".6"*()*'"-(%*:'"6."+(3'-'*W.":&(L.+'M:cF6(3'!_"Xh(63K"#<<?4"=?C"

,/3H%/-&'" +')" :')(F6%)" 5'&*.)" X'" +')" /(L%6%)C" +%" &%6.3('/.&" 6'" :cF6(3'" [" 6'" :&(L.+'" \

+(5H*(/./+'"6."6W/%."+(L()'&(.9"3'/"6'":'6W-(3'"["6."5.*(6(.!"D.":&(*%&."%)"6.".*:6(.3(E/"+%"%(#

$(%W&.8(" ." -'+')" 6')" %):.3(')" +%" 6." L(+." 3'-(+(./.K" )(%/+'K" %L(+%/-%*%/-%K" 6." 5.*(6(." [" 6'"

+'*1)-(3'K"3'/")H".)'3(.+'"3.&a3-%&":&(L.+'"9"^%"#'"*.%."#,-#7.-&"#8(*(#,%#,-$"8.(#$).7"+(#

$()# ,<8,%,08."# ,0# %"# &,()W"# -(8."%_# Xh(63K" #<<?4" @=C9" :.&-%" +%" %)-%" &%:%&-'&('" +%" %):.3(')"

3'-(+(./')!"

D." )%JH/+." %)" 6." %2-&.:'6.3(E/" +%" 6'" ]H%" :.)." %/" %6" %):.3('" :&(L.+'" .6" %):.3('"

:cF6(3'" X[" L(3%L%&).CK" 3H6*(/./+'" *H3I.)" L%3%)" %)-'" %/" H/" .3-'" +%" 3.&a3-%&"

(/+()3H-(F6%*%/-%"$(%W&.8(2",)-'")%"+%).&&'66.&a"*a)".+%6./-%K"%/"%6"T.:W-H6'"@!"

"

89

-'-'- U!&V!7+5+!&D&5!&!7W5+!(+Z"&$%W!(+!5&,$&5)&W)5H#+()&

#

P%):%3-'" ." 6." :&(*%&." 5'&*." +%" &%6.3(E/" %/-&%" 6'" :&(L.+'" [" 6'" :cF6(3'K" [" 6'" :'6W-(3'K" %)"

+%3(&K" &%):%3-'" ." 6." .*:6(.3(E/" +%" 6'" :'6W-(3'" ." -'+')" 6')" %):.3(')" +%" 6." L(+." 3'-(+(./.K"

:'+%*')" &%-'*.&" ." T./36(/(!" D." :')-H&." +%" %)-%" .H-'&" &%5H%&G." %6" .&JH*%/-'" 3'/-&." 6."

(+%." +(L()'&(." %/-&%" 6'" +'*1)-(3'" [" 6'" :'6W-(3'K" 6." (+%." +%" 6.)" 5%*(/()-.)" +%6" 3'/-&'6" +%6"

,)-.+'" +%)+%" %6" (/-%&('&" +%" 6.)" 5.*(6(.)K" +%" 6." (6H)(E/" +%6" %):.3('" +'*1)-(3'" 3'*'" H/"

%):.3('" :&(L.+'" [" :&'-%J(+'K" 3'/-&.+(3-'&(.*%/-%" " (/+%:%/+(%/-%" +%" 6." :'6W-(3.K" +%6"

,)-.+'!"T'*'"[.")%"*%/3('/E"./-%&('&*%/-%K"/'"%)")E6'"6."(/-%&L%/3(E/"+(&%3-."+%6",)-.+'"

%/"6.)"L(+.)":&(L.+.)"6'"]H%":'6(-(G."6."L(+.":&(L.+.M5.*(6(.&B#!"y%*')K"+%/-&'"+%"6."5.*(6(.K"

H/." *(3&')'3(%+.+" 3'/)-&H(+." :'&" &%6.3('/%)" +%" :'+%&K" (+%'6'JW.)K" %-3!K" %/" +'/+%" )%"

&%:&'+H3%/" -.*F(1/" +()3H&)')" [" :&a3-(3.)" I%J%*E/(3')!" D')" 3'/56(3-')K" &%6.3('/%)" X+%"

:'+%&CK":&'F6%*a-(3.)"]H%")%"+./"+%/-&'"+%6")%/'"5.*(6(.&K":H%+%/"3'/)(+%&.&)%K"-.*F(1/K"

+%"W/+'6%":'6W-(3'4""

"

%"#$(%W&.8"?#"+,*Y-#+,#.08%5.)#50"#-,).,#+,#"8&.7.+"+,-#,-$,8W'.8"-#B7(&")?#A"8,)#8"*$"J"?#8"6.%+,")3#

]5,#&.,0,0#%54")#,0#,-$"8.(-#.0-&.&58.(0"%,-#8%")"*,0&,#+,%.*.&"+(-?#8(*(#$")%"*,0&(-#(#$")&.+(-?#

"6")8"#%58A"-#+,#$(+,)#$5,-&"-#,0#*")8A"#,0#50#"*$%.(#)"04(#+,#,-$"8.(-#+,'.0.+(-#85%&5)"%*,0&,#

8(*(# $).7"+(-?# -(8."%,-?# ,8(0/*.8(-?# 85%&5)"%,-?# ,&82# 9%# $(+,)?# "# -5# 7,=?# 0(# +,6,)W"# ,0&,0+,)-,#

8(*(#6%(]5,#+,#,-&)58&5)"-# .0-&.&58.(0,-#8(0#&"),"-#$),,-&"6%,8.+"-#C#'.D"-#B+(*.0")?#*"0.$5%")3?#

0.#8(*(#*,8"0.-*(-#$")"#.*$(0,)#,%#()+,0#+,-+,#")).6"?#-.0(#*Y-#6.,0#8(*(#50"#),%"8./0#-(8."%#

+.'50+.+"#,0#&(+(-#%(-#,-$"8.(-_!"XZ.&3W."T./36(/("#<;;4"B?BC"B=""P%6.3('/./+'"%)-'"c6-(*'"3'/"%6"a*F(-'"5.*(6(.&K"["3'/)-.-./+'"36.&.*%/-%K"%/"+()3H&)'K"6."

&%6.3(E/"+%"5.*(6(."[":'6W-(3.K""T.6L%(&'"+(3%4"

"

L(*(#,0#,%#Y*6.&(#-(8."%?#%"-#),%"8.(0,-#+,#$(+,)#'"*.%."),-#$,)*.&,0?#0.,4"0?#8"-&.4"0#C#,<8%5C,0?#

8(0D54"0+(#,0#-5#-,0(#50#+,),8A(#+,#-(6,)"0W"#{%"#"5&().+"+#D,)Y)]5.8"#+,%#$"+),#(#+,#%(-#$"+),-[#

C#*,8"0.-*(-#+.-8.$%.0").(-# t222u#x# %(#A"8,0#-,4X0#$"&)(0,-#0(# .+;0&.8(-#$,)(#-W#8(08()+"0&,-#8(0#

B#" ,)-'")(J/(5(3.&W.")%JH(&"3'/)%&L./+'"6."(+%."+%"H/.")%:.&.3(E/"%/-&%"5.*(6(."[":'6W-(3.K"["H/."%236H)(L(+.+"

+%"6'":'6W-(3'"."6'"&%6.3('/.+'"3'/"%6",)-.+'!"B=" S/":H/-'"+%"L()-."+%)3%/-&.6(G.+'"+%6":'+%&"["6.":'6W-(3.K")(/"%*F.&J'"9.J&%J."%6".H-'&9K"/'"+%F%&W.".6%b.&"

/H%)-&.".-%/3(E/"+%"6."*./%&."3'*'"6')"*'L(*(%/-'")'3(.6%)"(/-%&.3-c./"3'/"6.")'3(%+.+":'6W-(3."["3'/"%6",)-.+'K" [" ^/'" +%F%" 66%L.&/')" ." (J/'&.&" 6." *./%&." 3'*'" %6" :'+%&" )%" )%+(*%/-." [" )%" 3'/3%/-&." %/"(/)-(-H3('/%)"[".J%/-%)")'3(.6%)_"XZ.&3W."T./36(/(K"#<;;4"B?AC"

90

%(-# ]5,# 8.)85%"0# ,0# %"# ,-85,%"?# ,0# %"# 7.+"# %"6()"%# (# ,0# %"# ,-',)"# $(%W&.8"># '()*"-# C# (6D,&(-# +,#

,<8%5-./0# ]5,# -,# ),$.&,0# 8(*(# %"# ,<$5%-./0# +,# %(-# %(8(-p# -5*.-.(0,-# '508.(0"%,-# ]5,# -,# "%.,0&"0?#

8(*(#%"#"8,$&"8./0#+,#50"#"5&().+"+#.0+.-85&.+"p#),6,%+W"-#]5,#-,#8"-&.4"0?#8(*(#%"#+,-(6,+.,08."#

8(08,)&"+"2#\(#$"),8,#)"=(0"6%,#"'.)*")#]5,#&(+(#,-#$(%W&.8"#C?#-.0#,*6")4(?#,-#8.,)&(#]5,#&(+(#,-#

"%8"0="+(?#&(8"+(#$()#%"#$(%W&.8"?#,0#&"0&(#,0&)"*"+(#$).08.$"%#+,#%"-#),%"8.(0,-#+,#$(+,)#-(8."%,-2"XT.6L%(&'K"=88A4"@=C""V.66%)"-.*F(1/"3'/)(+%&."6."H/(+.+"5.*(6(.&"H/"*(3&'3')*')"3H[.)"F.)%)"'&J./(G.-(L.)")'/"

&%6.3('/%)" +%" :'+%&d" :'&" 6'" *()*'K" .+%*a)" +%" 3'/)%/)')K" .3H%&+')" [" )'6(+.&(+.+%)K"

-.*F(1/" (/36H[%/"5'&G').*%/-%"3'/56(3-'"[" 6H3I.!"Y:'[./+'" 6." -%)()"+%6" "LW/3H6'"%/-&%"%6"

%):.3('" :&(L.+'K" +'*1)-(3'K" 5.*(6(.&" [" )H)" &%6.3('/%)K" [" 6." '&J./(G.3(E/" )'3(.6" [" :'6W-(3.K"

%)-.".H-'&."I.F6."+%"6."/%3%)(+.+"+%"+%*'3&.-(G.&"6')"%):.3(')":&(L.+')")(")%"]H(%&%"6'J&.&"

H/." +%*'3&.-(G.3(E/" %/" 6')" )()-%*.)" :'6W-(3')" *a)" .*:6(')!" ^T(%&-')" L.6'&%)K" 3'*'" 6."

+%*'3&.3(.K" )%" 3'/)-&H[%/" %/" a*F(-')" +(L%&)')K" ]H%" (/36H[%/" %L(+%/-%*%/-%K" 6')" +%"

/.-H&.6%G."W/-(*.K"%/-&%"%66')"6')"5.*(6(.&%)_!"XV.66%)K"%/"T.6L%(&'K"=88A4"=<C"

"

y%&%*')K"."3'/-(/H.3(E/K"3E*'"%)-%"-&.)6.:%"+%" 6'":cF6(3'"3'/" 6'":&(L.+'K"+%" 6'":'6W-(3'"

3'/" 6." 5.*(6(.K" )%" +." [" )%" :6.)*." %/" +()3H&)')" I%J%*E/(3')" %):%3W5(3')" (/5(6-&.+')" ["

./36.+')":.&-(3H6.&*%/-%"%/"%)-.)"-&%)"5.*(6(.)!"

91

-'-'[ U!%&0$5!(+)"$%&,$&W),$0&!5&+"#$0+)0&,$&5!&V!7+5+!&\]$G$7)"H!&D&%;%&,+%W;#!%^&

"V%":&%JH/-."T.6L%(&'"%/"]H1"*%+(+.":H%+%"I.F6.&)%"+%"&%6.3('/%)"+%":'+%&"+%/-&'"+%"6."5.*(6(.4""I,-+,# 50"# $,)-$,8&.7"# ,-&).8&"*,0&,# 8%Y-.8"# +,# %"# &,()W"# $(%W&.8"?# -.# -(%"*,0&,# $,0-"*(-# ,0# %"-#

+.*,0-.(0,-# +,%# "*()# C# ,%# &,*()# {8(0-,0-(# C# 8(,)8./0[# ),',).+"-# $()# \.8(%Y-#:"]5."7,%(# 8(*(#

8(0-&.&5&.7"-# +,%# $(+,)# t1u# ,-# $(-.6%,# "'.)*")# ]5,# ,-&"# +.0Y*.8"# -,# ),$)(+58,# ,0# ,%# ,-$"8.(#

'"*.%.")2#t1u#V,)(#+,-+,#50#,0'(]5,#*Y-#8(0&,*$()Y0,(?#-.#,%#,D,)8.8.(#+,#$(+,)#-,#,0&.,0+,#8(*(#

,%#,-&"6%,8.*.,0&(#+,#),%"8.(0,-#"-.*;&).8"-?#]5,#.*$%.8"0#50#$).08.$.(#+,#"5&().+"+#8(0#8(0&)(%#C#

"+*.0.-&)"8./0#+,#),85)-(-#,8(0/*.8(-#C#A5*"0(-?# %"#,-&.$5%"8./0#+,#0()*"-# %,4.&.*"+"-#$()#50#

+.-85)-(# +,# 7,)+"+# C# %"# 8"$"8.+"+# $")"# $,0"%.=")# -5# .085*$%.*.,0&(p# -.# A"6%"*(-# "-.*.-*(# +,#

$,0,&)"8./0#C#8(0-&.&58./0#+,#%(-#-5D,&(-?#+,#-5-#85,)$(-?#+,#-5#)"8.(0"%.+"+#,#.08%5-(?#,0#$")&,#+,#

-5# +,-,(?# ,-# +,8.)# +,# 0()*"%.="8./0?# ,-# 8%")(# ]5,# %"# '"*.%."# ,-# 50# ,-$"8.(# ,0# ,%# ]5,# -,# D5,4"0#

),%"8.(0,-#+,#$(+,)2"XT.6L%(&'K"=88A4"@#C""

D." I%J%*'/W." 9)H)" +()3H&)')K" )H)" :&a3-(3.)K" )H)" &%:&%)%/-.3('/%)" )'3(.6%)9" )%" I.3%"

:&%)%/-%" %/" L.&(')" /(L%6%)4" +%)+%" 6.)" 36.&.)" %)-&H3-H&.)" *.3&'" [" :'6W-(3.)"

(/)-(-H3('/.6(G.+.)"*a)".*:6(.)B@K"I.)-." 6')"%):.3(')"*a)"3'-(+(./')K"*(3&'!"D."3'/-(/H."

+():H-.":'&"6."I%J%*'/W.")%"%/3H%/-&."%/"&%6.3('/%)"["%):.3(')"*(3&')K"%/"5'&*.)"."L%3%)"

)H-(6%)" 9" '-&.)" /'" -./-'" 9" " ]H%" /')" %*:.:./" +W." 3'/" +W." [" '&+%/./" /H%)-&')" *H/+')"

3'-(+(./')!"$./-'"%/" 6."5.*(6(." X3'*'"(/)-(-H3(E/C"3'*'"%/"%6"J&H:'"+'*1)-(3'K" "[":H%+%"

+%3(&)%" 3'/" )%JH&(+.+" ]H%" %/" %)-.)" -&%)" 5.*(6(.)" [" %/" %)-')" -&%)" J&H:')" +'*1)-(3')" %/"

:.&-(3H6.&K" %2()-%/" +()3H&)')" I%J%*E/(3')" (/5(6-&.+')!" D.J.&+%" 3'/)(+%&." H/." +%" 6.)"

3.&.3-%&W)-(3.)"&%:&'+H3-(L.)"+%6"J&H:'"+'*1)-(3'"6."^%)-&H3-H&.3(E/"+%"6."I%J%*'/W.K"+%"

6." +(&%33(E/" [" %6" +'*(/('"+%"H/"F6']H%"+%" 36.)%)" [" 3.-%J'&W.)" )'3(.6%)!_" XD.J.&+%K" #<<84"

@7<9@?8C"Y)(*()*'")%":&%)%/-./"3'/-(/H.*%/-%"36.&.)"+():H-.)":'&" 6."I%J%*'/W.!"|":'&"

I%J%*'/W."&%-'*.*')"%/"5'&*."*H["J%/%&.6"6."(+%."+%"Z&.*)3("]H(%/"\:.&.5&.)%a/+'6'"

4)(--(#*(+(9" 6."+%5(/W."3'*'" 6."%2:&%)(E/"+%"H/."+'*(/.3(E/K"%/"3'/-(/H."3'%2()-%/3(."

3'/"H/"3'/)%/)'K"."-&.L1)"+%"5H%&G.)"+%"W/+'6%":'6W-(3.K")'3(.6"["3H6-H&.6"XZ&.*)3(K"#<;8C!"

T.6L%(&'"&%3'J%K""8,$&"":.&."%6"./a6()()"+%"&%6.3('/%)"+%":'+%&"%/-&%"I'*F&%)"["*Hb%&%)K"

B@" ,/" 6." &.GE/" +%" )%&" +%" 6." +%).:.&(3(E/" 5'&G.+." +%" :%&)'/.)" 3'*'" *%+(+." &%:&%)(L." )%" *./(5(%)-." H/"

.):%3-'"-./J(F6%K"3W/(3'"["+%)/H+'"+%"H/":&'[%3-'"I%J%*E/(3'4"%6"&%3H&)'"+%"6."3'%&3(E/"X-&.+H3(+."%/"L('6%/3(."5W)(3.C"["6."*./(:H6.3(E/"+%"6."(/5'&*.3(E/")'/"H-(6(G.+')":'&"6')"J&H:')"+%":'+%&"3'/-&.")Hb%-')K"J&H:')K"'&J./(G.3('/%)K"(+%'6'JW.)"]H%".-%/-%/"3'/-&.")H)"(/-%&%)%)"X3'/-&'6K":'+%&K"3.:(-.6C!"

92

(/L'6H3&.+.)"/%3%).&(."%"(/+()3H-(F6%*%/-%"%/"6.)"&%6.3('/%)"5.*(6(.&%)K"6."(+%."+%"Z&.*)3("

]H%"3'/)(+%&."."6')".3-'&%)"*EL(6%)"[")(%*:&%"%/"+():H-."+%"6."I%J%*'/W.4"

"

I,-+,#t50"u#$,)-$,8&.7"?#%.4"+"#8(0#%"#7.-./0#*")<.-&"?#$")"#,<$%.8")#,%#$(+,)#*"-85%.0(#-,#),85)),#

"%# 8(08,$&(# +,# A,4,*(0W"?# +,# *"&).=# 4)"*-8."0"2# t222u# t]5,u# $),-5$(0,# %"# 8(,<.-&,08."# +,# %"#

+(*.0"8./0# C# ,%# 8(0-,0-(2# t222u# $")"# R0&(0.(# d)"*-8.# ,%# $(+,)# ,-# -.,*$),?# ,# .0-,$")"6%,*,0&,?#

8(,)8./0#*Y-#8(0-,0-(#t222u#8(0%%,7"#8.,)&(-#0.7,%,-#+,#"8,$&"8./0#C#%,4.&.*"8./0#$()#$")&,#+,#]5.,0#

),-5%&"#-(*,&.+(#"#;%2#t222u#%"#A,4,*(0W"#,-&Y#-.,*$),#,0#+.-$5&"?#,0#50#,-8,0").(#]5,#0(#),8(0(8,#

,-$"8.(-#4"0"+(-#(#$,)+.+(-#+,'.0.&.7"*,0&,2#9-&,#$),-5$5,-&(#0(-#),*.&,#"#"8&(),-#*/7.%,-#C#,0#

$540"2#XT.6L%(&'K"=88A4"#?C""

YH/]H%"+%"%)-%"*()*'".H-'&"-.*F(1/"3&(-(3.#6."(+%."+%"6."F(:'6.&(+.+K"+%"+')"F6']H%)K"+')"

.6-%&/.-(L.)K" )(/" ':3(E/" +%" .*F(L.6%/3(." '" :')(3('/%)" (/-%&*%+(.)K" )(%/+'" ]H%K" 3'*'"

*%/3('/."j(66(.*"P')%F%&&[K" 6."*.['&W."+%" 6.)")(-H.3('/%)")'3(.6%)"3'/" 6.)"]H%"%)-.*')"

5.*(6(.&(G.+')")'/"(/5(/(-.*%/-%"*a)"3'*:6%b.)K"3'/"*c6-(:6%)"(/)-./3(.)"+%"+'*(/.3(E/"'"

*c6-(:6%)"5'&*.)"["%6%*%/-')"+%"6."%2:%&(%/3(.":':H6.&_!"XP')%F%&&[K"%/"n')%:I"["OHJ%/-K"

=88=4" =#AC" T.6L%(&'" *%/3('/." ]H%" " ^%/" 6." *%+(+." %/" ]H%" Z&.*)3(" &%3'/'3%" 6.)"

*H6-(:6(3(+.+%)":%&'"6.)"'&J./(G."%/"F6']H%)K"5(/.6*%/-%"+')K"]H%")%"%/5&%/-./"["+():H-./K"

&%5H%&G."H/."6EJ(3."F(/.&(."]H%"-(%/+%"."&%+H3(&"6.)"&%6.3('/%)"+%":'+%&"."+')".6-%&/.-(L.)"

':H%)-.)K"+(5(3H6-./+'"%6" &%3'/'3(*(%/-'"+%":')(3('/%)"'"F(%/" (/-%&*%+(.)"'"F(%/":'6("'"

.*F(L.6%/-%)!_" XT.6L%(&'K" =88A4" #?C" R%)+%" %)-." :%&):%3-(L." ^+%).:.&%3%K" '" :(%&+%"

(*:'&-./3(.K" 6." &%)()-%/3(." )HF-%&&a/%." [" 6.-%&.6!" i'&" 6'"*()*'K" )%" +%)3'/'3%" 3E*'" 6')"

+1F(6%)" 3'/)-(-H[%/"%):.3(')":&':(')"+%" &%)()-%/3(." 93'*'":H%+%" )%&6'" 6." 5.*(6(.":.&." 6."

*Hb%&9" [" 6." :')(F(6(+.+" +%" %)-&H3-H&.&6')" 3'*'" .H-1/-(3')" a*F(-')" +%" :'+%&K" [" )E6'" )%"

&%).6-." 6." 6H3I." :'&" '3H:.&" 6')" +%6" Ç':'/%/-%ÇK" 3'*'"c/(3." 5'&*."+%" 3H%)-('/.*(%/-'" ["

&%5'&*H6.3(E/"+%"6.)"&%6.3('/%)"L(J%/-%)!_"XT.6L%(&'K"=88A4"#;C"

"

Y" 3'/-(/H.3(E/" L%&%*')K" ." :.&-(&" +%" .6JH/')" 3'/3%:-')" &%6.3('/.+')" 3'/" 6." 5.*(6(.K"

.&-(3H6.+')"3'/"%)-')"@"3.)')"%/":.&-(3H6.&K""3E*'"6.)"&%6.3('/%)"+%":'+%&"["6.)"3'/-(/H.)"

+():H-.)" :'&" 6." I%J%*'/W." )%"*./(5(%)-./K" [" 3E*'"+()3H&)')" I%J%*E/(3')" )%" (/5(6-&./" \

'&+%/./+'" %6" *H/+'" [" " 6')" &'6%)" +%" )H)" I.F(-./-%)9" .6" (/-%&('&" +%" %)-%" a*F(-'"

3'*c/*%/-%" 3'/3%F(+'" 3'*'" " ^.()6.+'_" [" ^:&(L.+'_" ]H%" %)" 6." 5.*(6(.!" ,)-')" +()3H&)')"

93

(/5(6-&.+')" [" %)-.)" +():H-.)" -(%/%/" &%6%L./3(." %/" %)-%" -&.F.b'K" :'&]H%" )'/" 6')" :&(*%&')"

H/')"+%" 6')"'F)-a3H6')"*a)" (/*%+(.-')"." 6')"]H%"%)-.)"*Hb%&%)" )%"%/5&%/-./"+H&./-%" 6."

Fc)]H%+."+%")H)"5.*(6(.&%)K"["-.*F(1/"6'"]H%"6.)"(*:H6)."["66%L."."%*:&%/+%&"["3'/-(/H.&"

3'/"1)-."["3'/"6."6H3I.d"[")'/"6.)")%JH/+.)":.&-%"+%"6'"]H%"%*%&J%K")%":'/%"%/"bH%J'K")%"

*'+(5(3." '" )%" &%)(J/(5(3." 3'/" )H" :.&-(3(:.3(E/" :'6W-(3.!" V'/":.&-%" +%6" 3'/-%2-'" %/" %6" ]H%"

%66.)"&%%)3&(F%/")H":&':(."I()-'&(."["6."+%")H)")%&%)"]H%&(+')"+%).:.&%3(+')!"

"

E2E2Z2F !"#'"*.%."#C#,%#4)5$(#+(*;-&.8(#

#

0.&3%6." D.J.&+%" +%5(/%" ." 6." '"*.%."# 3'*'" ^%6" a*F(-'" )'3(.6" [" 3H6-H&.6" :&(L.+'K" 3'*'" %6"

%):.3('":&(*.&('"+%":%&-%/%/3(.K"+%5(/(3(E/"[".+)3&(:3(E/"+%6")Hb%-'K"3'*'"H/."(/)-(-H3(E/"

+%6" ,)-.+'" %/" 6." )'3(%+.+!" D." 5.*(6(." %)-a" 3'/5'&*.+." :'&" 3'/bH/-')" +%" &%6.3('/%)K"

(/)-(-H3('/%)K" :%&)'/.b%)" [" -%&&(-'&(')!_" XD.J.&+%K" #<<84" @?#C" D." .H-'&." I.3%" H/."

+(5%&%/3(.3(E/" %/-&%" 1)-." [" %6" J&H:'" +'*1)-(3'2" ,)-%" c6-(*'" ^%)-a" F.).+'" %/" 6."

3'&&%)(+%/3(." 3'/" 5(/%)" +%" &%:&'+H33(E/":&(L.+."+%"H/" J&H:'" )'3(.6K" /'"/%3%).&(.*%/-%"

%*:.&%/-.+'!" Ñ!!!Ö" )'/" Ñ6')" J&H:')" +'*1)-(3')Ö" a*F(-')" +%" &%:&'+H33(E/" +%" 6')" )%&%)"

IH*./')K"'&J./(G.+')"%/"-'&/'"."&%6.3('/%)K".3-(L(+.+%)"["5H/3('/%)"%3'/E*(3.)K")'3(.6%)K"

)%2H.6%)"X:&'3&%.+'&.)"["%&E-(3.)CK".5%3-(L.)K")'3(.6%)K":'6W-(3.)!_"XD.J.&+%K"#<<84"@7<C",/"%6"

:&%)%/-%"-&.F.b'")%"I.&a"&%5%&%/3(."."6')"J&H:')"+'*1)-(3')"+%"%)-.)"-&%)"*Hb%&%)!"V("F(%/"

%)-%" 3'/3%:-'"+%" 5.*(6(.K" 3'*'"H/"a*F(-'"+%".+)3&(:3(E/":&(/3(:.6*%/-%" (+%/-(-.&(.K"+%"

5&'/-%&.)"H/"-./-'"*%/')"3'/3&%-.)"["*a)"+(5W3(6%)"+%"+%6(*(-.&K"%)":%&-(/%/-%":.&."I.3%&"

&%5%&%/3(."["%/-%/+%&")'F&%"-'+'"%6"3'/-%2-'"X3H6-H&.6"[")'3(.6C"+%"%)-.)"*Hb%&%)K")%"I.&a"

.6H)(E/".")H)"J&H:')"+'*1)-(3')K"[."]H%K".+%*a)"+%"&%:&%)%/-.&"1)-')"H/"&%5%&%/-%"+%"6."

5.*(6(." X[" %)-.&" 6." *.['&W." +%" )H)" 3'&&%)(+%/-%)" %*:.&%/-.+')CK" %)" %/" %)-%" %):.3('"

^:&(L.+'_" %/"+'/+%" )%" +./" [" )%" L(L%/" 6.)" &%6.3('/%)K" +(/a*(3.)" [" -%/)('/%)" \5.*(6(.&%)9"

]H%"-%/+&a/"(/3(+%/3(."%/"6."3'/)-&H33(E/"(+%/-(+.+%)"["+%"&'6%)"+%"%)-.)"*Hb%&%)K"["]H%"

(/56H(&a/"%/")H":')-%&('&":.&-(3(:.3(E/":'6W-(3.!"

"

94

T'*'"(/-&'+H33(E/K":H%+%"+%3(&)%"]H%K"%/"-1&*(/')"J%/%&.6%)K"%)-')"@"J&H:')"+'*1)-(3')"

]H%"/')".-.`%/"5H%&'/"3.*F(./+'"3'/)-./-%*%/-%4")%"-&.-."+%"*Hb%&%)"]H%K":'&"+()-(/-.)"

&.G'/%)K" *(J&.&'/" +%" )H" :H%F6'" +%" '&(J%/!" ,/" %6" 3.)'" +%" +'`." P%[/." [" +'`." Y3%6.K"

+%):H1)" +%6" J&H:'" +'*1)-(3'" 3'/5'&*.+'" :'&" )H" 5.*(6(." %2-%/)." +%" '&(J%/" X.FH%6')K"

:.+&%)"["I%&*./')CK":.)."."3'/5'&*.&)%K"+%):H1)"+%"3'/-&.%&"*.-&(*'/('"%/".+%6./-%K"

+%"*./%&."3'/)-./-%K":'&")H"%):')'!"|K"%/"+(L%&)')"%:()'+(')"+%")H)"L(+.)"X/E*.+.)CK"%/"

6'"]H%")%"L./".3':6./+'"[".+.:-./+'"."6."3(H+.+K"I.3(1/+')%"+%"-%&&%/')":&':(')K"66%J./"."

L(L(&"3'/":.&(%/-%)"X)'F&%"-'+'":.&(%/-%)"\I%&*./')9"+%6"*.&(+'"%/".*F')"3.)')C!"|."H/."

L%G" %)-.F6%3(+.)" %)-.)" +')" 5.*(6(.)" %/" 3.).)" :&':(.)K" %6" J&H:'" +'*1)-(3'" (/36H[%"

:&(*'&+(.6*%/-%" 5.*(6(." /H36%.&!" ,/" .*F')" 3.)')" .)W" %&." %/" %6" *'*%/-'" +%" 6."

+%).:.&(3(E/"+%"6.)"I(b.)4"L(LW./"%)-.)"+')"*Hb%&%)"3'/")H)"&%):%3-(L')"%):')')"%"I(b')"X#="

%/"%6" :&(*%&" 3.)'K" <"%/"%6" )%JH/+'C!"T.F%" &%3.63.&"]H%K":.&."%)%"%/-'/3%)K" .*F.)"I(b.)"

X+%).:.&%3(+.)C" [." I.FW./" ).6(+'" +%6" )%/'" +%" )H)" I'J.&%)" [" )%" I.FW./" (/+%:%/+(G.+'K"

.H/]H%" 5H%&.":.&3(.6*%/-%!"Y3-H.6*%/-%K".6JH/')"+%" 6')"I(b')" )%"I./" (+'"."L(L(&" ."'-&')"

%):.3(')K":%&'"'-&')" )(JH%/"L(L(%/+'"%/" 6."*()*."3.)." X'"%/"%6"*()*'"-%&&%/'Cd".6JH/')"

I(b')"L.&'/%)"(/36H)'"3'/")H)"&%):%3-(L.)"5.*(6(.)"X/(%-')"["/H%&.)"+%"%)-.)"*Hb%&%)C!"Y3%6."

%)"L(H+."+%)+%"I.3%"#@".`')!""

,)-.)" +')" 5.*(6(.)" :H%+%" +%3(&)%" ]H%" &%:&%)%/-./" H/'" +%" 6')"*'+%6')" 5.*(6(.&%)"

6.-(/'.*%&(3./')" ]H%" *%/3('/." T.6L%(&'K" %/" 6')" ]H%" 3'/L%&J%/" 3.&.3-%&W)-(3.)" +%" 6.)"

5.*(6(.)" /H36%.&%)" [" 5'&*.)" +%" L(/3H6.3(E/" +%" 6.)" 5.*(6(.)" %2-%/).)!" m.F6./+'" )'F&%" 6."

3'*:6%b(+.+" +%" 6.)" &%6.3('/%)" +%" :'+%&" %/" 6.)" 5.*(6(.)" X+(/a*(3.)" +%" .6(./G." [" +%"

3'/56(3-'CK"6.".H-'&."+(3%4""

#b.#-,#8(0-.+,)"#]5,#,0#%(-#$"W-,-#+,#R*;).8"#!"&.0"#-,#7,).'.8"#50"#-5$,)$(-.8./0#+,#%"#,-&)58&5)"#

'"*.%.")#&)"+.8.(0"%#8(0-"045W0,"#8(0#%(-#*(+,%(-#+,#'"*.%."#058%,")#{]5,#.*$%.8")Y#%"#$,)&,0,08."#

"#'"*.%."-#"*$%."+"-#$()#%(#*,0(-#+5)"0&,#65,0"#$")&,#+,#%"#7.+"#+,#%"-#$,)-(0"-[#%"#-.&5"8./0#-,#

&()0"# *Y-# 8(*$%,D"2# !"-# '()*"-# +,# "%."0="# C# 8(0'%.8&(# -,# *5%&.$%.8"0# ,0# %"# *,+.+"# ,0# ]5,# %(-#

0X8%,(-# '"*.%."),-# *Y-# 05*,)(-(-# 8(04),4"0# +.',),0&,-# &.$(-# C# $"5&"-# +,# ),%"8./0># 8(0D54"0#

8.,)&"-#+.0Y*.8"-#+,#%"#'"*.%."#058%,")#8(0#(&)(-#$).08.$.(-#+,#7.085%"8./0?#$)($.(-#+,#%"-#50.+"+,-#

'"*.%."),-# ,<&,0-"-2# b,# 7,).'.8"0# "-W# .0&,)+,$,0+,08."-# 8(*$%,D"-?# 8(0&)(%,-# *5C# 8,))"+(-?# "-W#

8(*(# -(%.+").+"+,-# 6Y-.8"-# C# 8%Y0.8"-# $")"# %"# -5$,)7.7,08."?# ,0# 8(0-(0"08."# 8(0# '()*"-# +,#

"5&(0(*W"#,#.0+.7.+5"%.="8./0#]5,#+"0#%54")#"#),+,-#+,#$(+,)#+,0-"-#C#*5C#.*6).8"+"-2"XT.6L%(&'K"=88A4"@B9@AC""

95

T'*'"%b%*:6'":'+%*')" -'*.&"%6" 3.)'"+%"R'`."Y3%6.K"]H(%/K" 3H./+'")H"%):')'" (/-%/-."

(&)%"."-&.F.b.&"+%"F&.)%&'".",)-.+')"S/(+')K"L(L%"H/":%&('+'"+%"-(%*:'"3'/")H)"3H`.+')K"

I%&*./')"+%")H"*.&(+'!"V%"+."%/"%)-%"%/3H%/-&'"H/."3'/5&'/-.3(E/"+%6"*'+%6'"+%"5.*(6(."

-&./)*(-(+'" :'&" )H" *.+&%" X%6" +%" H/." *Hb%&" $")"# )H" $)($.(# I'J.&K" $")"# -5-# I(b')" C# -5#

%):')'C" 3'/" '-&.)" 5'&*.)" -&.+(3('/.6%)" +%" 3'/3%F(&" 6." 5.*(6(." [" 6.)" &%):'/).F(6(+.+%)"

(*:H%)-.)":'&"%6"*.&(+'4"

"

tL5"0+(# *.# ,-$(-(# -,# '5,# +,# 6)"-,)(?# &,0W"# `# A.D(-u# '5,# ]5,# 7.7W# 8(0# &),-# 85J"+(-2# t1u# 9)"222#

A"6.&5")-,#"#,%%(-2#_,0W"0#+,%#$5,6%(#,%%(-2#x#-(0#8")"8&,),-#+.',),0&,-?#P0(T#x#*.#,-$(-(#$5,-#*5C#

+,%.8"+(#,0#,-,#"-$,8&(?#P0(T#Q5,#&,0W"#]5,#"&,0+,)#"#-5-#A,)*"0(-2#t1u#V5,-#"#A"8,)%(222#MRC?#,-(#

+,#%"7")#C#$%"08A")#$")"#&"0&(#A(*6),O#t1u#

x#,0&(08,-?#85"0+(#;%#-,#'5,#$")"#"%%Y?#$")"#,%#\()&,?#*,#+.8,#*.#A,)*"0(#HP-"6,-#]5;T#_Y*(0(-#

$")"#%"#8"-"2#\(#&.,0,-#0.0450"#0,8,-.+"+#+,#,-&")#%.+."0+(222K2#t1u#R$")&,#+,#&(+(-#&5-#A.D(-?#&,0,)#

]5,#,-&")#"-.-&.;0+(%(-222#t1u#9%%(-#&)"6"D"0?#,%%(-#$5,+,0#"-.-&.)2#x#C"#"4"));?#C#,%%(-#'5,)(0#-"8")(0#

*.-#8(-"-#C#*,#'5.#"#7.7.)#8(0#*.#*"*Y2#V,)(#+5);#8(*(#50(-#-,.-#*,-,-?#85"0+(#*58A(?#$()]5,#

,0-,45.+"# C"# '5,# 85"0+(# 0(-# 7.0.*(-# $")"# "8Y# "# 7.7.)2# V()]5,# *.# *"*Y# ,)"# ,0,*.4"# +,# ]5,#

7.7.;)"*(-# ,0# 8"-"-# "-W# +,# '"*.%."),-# (# "%4(2#I,8W"#*.#*"*Y# H0(?# A.D"?# "50]5,# -,"# 50# 85")&.&(?#

),+(0+(?#$,)(#]5,#&X#7.7"-#-/%(#8(0#&5-#A.D(-2#x#C"#-.#&5-#A.D(-#-(0#&)"7.,-(-?#-,"#%(#]5,#-,"?#(#-.#&X#

&.,0,-#]5,#8(*,)?#7"-#"#8(*,)?#C#-.#0(?#"#0"+.,#%,#7"-#"#+")#"#-"6,)#]5,#0(#&.,0,-#]5,#8(*,)222K2#t222u#

V()]5,#0.#,%%"#),0&"6"#,0#50"#7,8.0+"+2#\(?#,%%"#65-8"6"#-.,*$),#50#85")&.&(?#50"#8(8.0.&"?#$,)(#

-(%(-?#+,8W"#,%%"2#t222ux#+,#&(+(-#%(-#A,)*"0(-#'5,#%(#*.-*(2#XY3%6.K"=8#8C""

,/" %6" 3.)'" +%" P%[/.K" -./-'" %66." 3'*'" )H" I(b." ZH(66%&*(/." X." 6." 3H.6" )%" -HL'" -.*F(1/" 6."

':'&-H/(+.+"+%"%/-&%L()-.&CK"&%:'&-./"3'/)-./-%)"+()3H)('/%)K":%6%.)"[".6(./G.)".6"(/-%&('&"

+%"6."5.*(6(.!"D.)":&(/3(:.6%)"+(L()('/%)"-'*.F./"+')":&(/3(:.6%)":')-H&.)4"I(b')".6(.+')"3'/"

6."*.+&%"X+'`."P%[/.C"%"I(b')".6(.+')"3'/"%6":.+&%d" "I.FW."3'/)-./-%)"-%/)('/%)"%/-&%" 6."

:.&%b.!",6"I%3I'"+%"L(L(&".6JH/')"+%" 6')"I(b')"3'/")H)"&%):%3-(L.)"5.*(6(.)"'":.&%b.)"%/" 6."

*()*."3.).K"-.*F(1/"(/-%/)(5(3.F."6')"3'/56(3-')!""

"

,/".*F')"3.)')")%"+./"6.)"-%/)('/%)")H&J(+.)"+%"H/."6H3I.":'&"6."(/+(L(+H.6(G.3(E/"5&%/-%"."

6.)" +%*./+.)" [" ." 6." 6EJ(3." +%" 6." +(/a*(3." 5.*(6(.&" %2-%/)." -&.+(3('/.6!" ,)-'" :.).K" :'&"

%b%*:6'K" .6" +%3(+(&" 6.)" I(b.)" 3'/)-&H(&" )H)" :&'[%3-')" +%" L(+." (/+%:%/+(%/-%)" +%6" I'J.&"

*.-%&/'")(/"./-%)"I.F%&)%"3.).+'!"

"

96

Y(3%6.K":'&"'-&'"6.+'K"+H&./-%"-'+.")H"L(+."%/")H":H%F6'"+%"'&(J%/"X$%3.*.3I.63'K"iH%F6.CK"

%6"J&H:'"+'*1)-(3'")%"3'/5'&*E":'&"5.*(6(."%2-%/).4".FH%6')K":.+&%)K"I%&*./')K":&(*')"["

)'F&(/')!"V%"3&(E"bH/-'"3'/")'F&(/')"]H%"I.)-."6."5%3I."3'/)(+%&."3'*'"I%&*./')!",/"H/."

)%JH/+."%-.:."%)"3H./+'")H"3'/-%2-'"[")H"J&H:'"+'*1)-(3'"3.*F(."&.+(3.6*%/-%4"3H./+'"

)%" -&.)6.+E" .6" R!h!" ." %)-H+(.&K" 1)-%" )%" 3'/5'&*E" :'&" 3'*:.`%&')" %)-H+(./-%)!" i.)E" :'&"

^3.).)" +%" %)-H+(./-%)_" [" 66%JEK" :')-%&('&*%/-%K" ." 3'*:.&-(&" +%:.&-.*%/-'" 3'/" '-&')"

3'*:.`%&')!"R%):H1)K"3'/"H/.":.&%b.!",)"%/"%6":%&('+'"+%"6."3.)."+%"%)-H+(./-%)"3H./+'"

%)"+%).:.&%3(+'")H"I%&*./'!"S/"%/-'&/'K"%/".]H%6"*'*%/-'K"*H[":'6(-(G.+'"["*'L(6(G.+'"

X5'3'K" .+%*a)K" +%" 3'/-&'6" [" &%:&%)(E/" :'&" :.&-%" +%6" J'F(%&/'C!" i.)E" +%" &%):'/+%&" ." 6.)"

/%3%)(+.+%)"+%"H/."J&./"5.*(6(.K"."L%&":'&"%66.4":'&")H)"+%)%')K")H)".):(&.3('/%)"["-.*F(1/"

:'&")H")H:%&L(L%/3(.!"T'*'"[.")%"*%/3('/EK".3-H.6*%/-%"Y(3%6."L(L%"3'/"'-&.":.&%b."9]H%"

3'/'3(E" %/" 6." 3.)." +%" %)-H+(./-%)" [" ]H(%/" 3'/'3(E" ." )H" I%&*./'9" [" 3'/" H/'" +%" )H)"

I%&*./')"]H%")H5&%"+%"%)]H(G'5&%/(." X-.*F(1/"*H["3%&3./'".6"I%&*./'"+%).:.&%3(+'"["

:.&-%"+%"%)%"3'/-%2-'"+%"*'L(6(G.3(E/"%)-H+(./-(6CK"+%6"3H.6"Y(3%6.")%"I(G'"3.&J'!"X$./-'"%/"

6." &%):'/).F(6(+.+" +%" 6." Fc)]H%+." +%" )H" I%&*./'" +%).:.&%3(+'K" 3'*'" %/" 6."

&%):'/).F(6(+.+" .)H*(+." +%" 3H(+.&" +%" )H" '-&'" I%&*./'K" LH%6L%"Y(3%6." ." %)-%" &%):'/+%&"

:'&"[":.&."6."5.*(6(.!C"

"

y%*')K" %/" &%)H*%/K" ]H%" 6')" 3'/-%2-')" [" 6')" J&H:')" +'*1)-(3')" +%" 6.)" -&%)" *Hb%&%)"

%/3H%/-&./" 3(%&-.)" )(*(6(-H+%)" %/" 6." :&(*%&." 5.)%" +%" )H)" L(+.)d" )(/" %*F.&J'K" %6" J&H:'"

+'*1)-(3'"+%"Y(3%6.K"H/."L%G"]H%")%"+%):&%/+%"+%6")%/'"*.-%&/'K"%)"*H["+()-(/-'".6"+%"

.*F.)" *.+&%)K" .*.)" +%" 3.)." 3'/" +%F%&%)" [" &%):'/).F(6(+.+%)" :&':(.)" +%" +(/a*(3.)"

5.*(6(.&%)" :.-&(.&3.6%)" [" -&.+(3('/.6%)!" ,)-'" (/56H[%" 36.&.*%/-%" %/" 6.)" 5'&*.)" ["

:')(F(6(+.+%)"+%":.&-(3(:.3(E/":'6W-(3." [" -.*F(1/"+%5(/%" 6.)" -%/)('/%)"]H%" ." &.WG" +%" %)-."

c6-(*.")H&J%/"+%/-&'"+%"6')"&%):%3-(L')"I'J.&%)"'"%/"6."&%6.3(E/"3'/"%6"&%)-'"+%"6."5.*(6(.!""

i.&."D.J.&+%"%2()-%/"<"3.&.3-%&W)-(3.)"&%:&'+H3-(L.)"]H%".-&(FH[%".6"J&H:'"+'*1)-(3'!"$&%)"

+%"%66.)")'/"6.)")(JH(%/-%)4"

"

! ^P%:&'+H33(E/" +%" %)-&H3-H&.)K" b%&.&]HW.)K" &./J')K" :'+%&" )'3(.6" [" +%6" ,)-.+'K" .":.&-(&"+%"6."(+%/-(5(3.3(E/"%/"%6":&'3%)'"+%"5'&*.3(E/"+%"(+%/-(+.+%)!"T'/"5'&*.)"

97

+%"-&.-'K"&(-H.6%)K"/'&*.)":.&-(3H6.&%)"+%"6.)"&%6.3('/%)":&E2(*.)!"! D."3'/)-&H33(E/":&(L.+."["+'*1)-(3."+%6"3'/)%/)'K"["6.".&-(3H6.3(E/"+%")H)"5'&*.)"

+%" 3'%&3(E/4" +'6'&K" -%*'&K" 3.H-(L%&('K" &%36H)(E/K" %236H)(E/K" :&'I(F(3(E/K":&%*(.3(E/K"L(+.9*H%&-%!""

! D." 3'/5'&*.3(E/" +%" H/" %):.3('" ]H%" (*:6(3.K" .+%*a)" +%" -&.F.b'K" %2:6'-.3(E/" ["+'*(/('":.&."6')")Hb%-')K"'-&')"I%3I')"+%"6."&%:&'+H33(E/"3'*'")'/"6.":&(L.3W.K"6."(/-(*(+.+K" %6" +%)3./)'K" 6')" .5%3-')K" %6" %&'-()*'K" 6." :&'-%33(E/" [" 6')" 3H(+.+')"L(-.6%)!_""XD.J.&+%K"#<<84"@7<9"@?8C"

"

$&.+(3('/.6*%/-%"%)" 6."*Hb%&" X6."*.+&%K" %):').CK" 6." ]H%" )%" %):%&."]H%"%)-1" ." 3.&J'"+%6"

J&H:'"+'*1)-(3'K")'F&%"-'+'"%/"-./-'"."6.":&'-%33(E/"["3H(+.+')"L(-.6%)")%"&%5(%&%K"["%)":'&"

%)'" ]H%" %/" %66." &%3.%/" &%):'/).F(6(+.+%)" J&./+%)d" )(/" %*F.&J'K" %)" .6" :.+&%" .6" ]H%"

3H6-H&.6*%/-%" )%" 6%" .+bH+(3./" 6')" .):%3-')" &%6.3('/.+')" 3'/" %6" 3'/-&'6" [" %6" +'*(/('!" Y"

3'/-(/H.3(E/" L%&%*')" 3E*'K" %/" %)-')" J&H:')" +'*1)-(3')K" %/" %)-.)" 5.*(6(.)K" 3'%2()-%/"

5'&*.)" +%" +'*(/('" [" &%6.3('/%)" +%" :'+%&" ]H%" )%" .)'3(./" ." 6.)" -&.+(3('/.6*%/-%"

+%-%&*(/.+.)!"

"

98

"E2E2Z2E "V"+),-[A.D(-?#A(*6),[*5D,)># ),%"8.(0,-#+,#$(+,)#C# '508.(0,-#+,0&)(#+,# %"# '"*.%."#

,0#-(8.,+"+,-#C#85%&5)"-#$"&).")8"%,-"

"

m.F6./+'" +%" 6.)" &%6.3('/%)" +%" :'+%&" %2()-%/-%)" +%/-&'" +%6" )%/'" 5.*(6(.&K" i(6.&" T.6L%(&'"

.5(&*."]H%"%2()-%/"+')"6W/%.)"+%":'+%&4"6.":&(*%&."+%"J1/%&'"X+%"I'*F&%)"."*Hb%&%)CK"["6."

)%JH/+."J%/%&.3('/.6"X+%":.+&%)"."I(b')C!"

^,)" :')(F6%" 3'/)(+%&.&" 3'*'" H/" I%3I'" ]H%K" %/" /H%)-&." )'3(%+.+K" 6.)" &%6.3('/%)"

)'3(.6%)" %/-&%" I'*F&%)" [" *Hb%&%)" )'/" .)(*1-&(3.)K" %/" F%/%5(3('" +%" 6')" :&(*%&')!_"

XT.6L%(&'K" =88A4" #@C" D." +(L()(E/" +%6" -&.F.b'" :'&" )%2')" %)K"*%/3('/." T.6L%(&'K" H/." +%" 6.)"

%2:6(3.3('/%)"-%E&(3.)":.&."%)-."+%)(JH.6+.+!"Y"-&.L1)"+%"%)-."+(L()(E/"%)"]H%"%6"I'*F&%")%"

^%):%3(.6(G._"%/"6.":&'+H33(E/"%3'/E*(3."["6."*Hb%&K"3'/5(/.+."%/"%6"a*F(-'"+'*1)-(3'K"."

6."&%:&'+H33(E/")%2H.6!",/J%6)K"%/"9%#q).4,0#+,#%"#U"*.%."?#%"#V)($.,+"+#V).7"+"#C#,%#9-&"+("

I.F6." .3%&3." +%6" :&'3%)'" I()-E&(3'" X&%6.3('/.+'" 3'/" 6')" *%+(')" +%" :&'+H33(E/" [" +%" 6."

-&./)5'&*.3(E/" +%6" ^I'*F&%" 3.G.+'&_" .6" ^I'*F&%" :.)-'&_C" ]H%" 66%LE" ." 6." *Hb%&" ." %)-%"

6HJ.&")%3H/+.&('4"

"

!"#+.7.-./0#+,%#&)"6"D(#,0#%"#'"*.%."#t1u#8(0&.05"6"#-.,0+(#%"#*.-*"?#$,)(#"A()"#&)"0-&()0"6"#$()#

8(*$%,&(# %"-# ),%"8.(0,-# +(*;-&.8"-# ,<.-&,0&,-# $()# %"# *,)"# )"=/0# +,# ]5,# %"# +.7.-./0# +,%# &)"6"D(#

'5,)"#+,# %"# '"*.%."#A"6W"#8"*6."+(2#!"#*.-*"#8"5-"#]5,#A"6W"#"-,45)"+(#"#%"#*5D,)#-5#"0&,).()#

-5$),*"8W"# ,0# %"# 8"-"# {-5# (85$"8./0# ,<8%5-.7"# ,0# %"-# %"6(),-# +(*;-&.8"-[# ?# "-,45)"6"# "A()"# %"#

$),$(0+,)"08."# +,%# A(*6),# ,0# ,%# A(4")># ,%# &)"6"D(# +(*;-&.8(# +,# %"# *5D,)# $,)+W"# "A()"# %"#

.*$()&"08."# 8(*$")"+(# "%# &)"6"D(# $)(+58&.7(# +,%# A(*6),p# ,-&,# &)"6"D(# %(# ,)"# &(+(p# "]5;%?# 50#

"88,-().(#.0-.40.'.8"0&,2#X,/J%6)K"#<;84"A<<C""Q-&')" .H-'&%)" X3'*'" PHF(/CK" +()3H-%/" %6" .&JH*%/-'" +%" 6." 3.:.3(+.+" &%:&'+H3-(L." ["

%236H[%/-%"+%"6.":&'+H3-(L."%/"%6"3.)'"+%"6."*Hb%&K".5(&*./+'"]H%"^6."5.*(6(."&%c/%".*F.)"

+(*%/)('/%)" Ñ6." %3'/E*(3." [" 6." 5.*(6(.&Ö" [" 6." *Hb%&" +%)%*:%`." -.*F(1/" 5H/3('/%)"

:&'+H3-(L.)".H/]H%")'3(.6*%/-%")%"6%"&%3'/'G3."3.)("%236H)(L.*%/-%")H":.&-(3(:.3(E/"%/"6."

&%:&'+H33(E/"F('6EJ(3.!"R%"I%3I'K" 6')":.:%6%)"+%"*.+&%"["%):')."I./")(+'"[".c/")'/"6')"

6HJ.&%)" ]H%" )%" 6%" .)(J/./" :&('&(-.&(.*%/-%K" +%)+%" H/." %)-&H3-H&." +%" :'+%&" +%" 3'&-%"

:.-&(.&3.6!_"XT.6L%(&'K"=88A4"#@9#BC""

"

99

SF(]H%*')K" ./-%)" +%" I.F6.&" +%" 6')" 3.)')" ]H%" /')" .-.`%/K" %6"*'*%/-'" [" 3'/-%2-'" ]H%"

3(&3H/)3&(F%"."%)-.)"*Hb%&%)"[")H"%+H3.3(E/!"$./-'"P%[/."3'*'"Y3%6."/.3%/"+H&./-%" 6')"

.`')"@8"["3&%3%/"%/"H/"3'/-%2-'"3H6-H&.6"+'/+%"6."&%6(J(E/"3.-E6(3."%/"012(3'"[")H)"L.6'&%)"

(*:%&.F./")(/"3H%)-('/.&)%"%/"6."%+H3.3(E/"+%"6.)"*Hb%&%)"X)%"-%/W."6')"^I(b')"]H%"R(')"6%)"

+.F._Cd" " -.*F(1/" )%" -&.-." +%" H/" 3'/-%2-'" :'6W-(3'K" %3'/E*(3'" [" )'3(.6" %):%3W5(3'K"

:')-&%L'6H3('/.&('K" +'/+%" )%" -&.-.F." +%" &%5'&G.&" +()3H&)(L.*%/-%" X:.&." %/3.*(/.&6')" ."

).-()5.3%&"(/-%&%)%)":'6W-(3')"["%3'/E*(3')C"L.6'&%)"3'*:.-(F6%)"3'/"%)-%"3'/-%2-'"3H6-H&.6"

&%6(J(')'!" Y)WK" ^6." *a&-(&" *.-%&/.6_K" '" F(%/" ^6." FH%/." *.+&%" +%" 6." *'+%&/(+.+"

(/+H)-&(.6(G.+._K"

"

.+(%"&)"+"# ,0# %(-# $"W-,-# 8"$.&"%.-&"-# "7"0="+(-# +,-+,# ,%# -.4%(# c_jjj# $()# -5# ,-,08."# "%&)5.-&"# +,#

85,)$(w$")"w(&)(-?# -5# 8")Y8&,)# A(4"),J(?# t1u# ,0"D,0"+"#+,# -5# $)($."# -,<5"%.+"+# ,0#0(*6),#+,%#

.0-&.0&(#*"&,)0"%?#,0#:;<.8(#'5,#.0-&.&58.(0"%.="+"#8(*(#%"#X0.8"#),$),-,0&"8./0#+,#%"#*"&,)0.+"+#

*,<.8"0"?# +,-+,# %(-# $).*,)(-# "J(-# +,# %"# 8(0-(%.+"8./0# ),7(%58.(0")."2# B13" Ñ)%Ö" 8(0-(%.+/#Ñ+()3H&)(L.*%/-%Ö# %"# 05,7"# .+,0&.+"+# *"&,)0"?# .+,0&.+"+# '508.(0"%# "%# 8(0&,<&(# 0"8.(0"%# +,#

8),8.,0&,#*(+,)0.="8./0#8"$.&"%.-&"2#XY3%L%+'K"%/"0.(%&K"=88#4"<;C""

T'*'"H/"%b%*:6'"]H%",6(G.F%-I"0.(%&"/')"+."+%"6'"]H%"."/(L%6"/.3('/.6")H3%+W.K"["]H%"/')"

.[H+."."%/-%/+%&"%)-%"3'/-%2-'"+%" 6'"L.6'&.+'"["5'*%/-.+'"%/".]H%66."1:'3.K"%)-a/" 6')"

:&%*(')"[" &%3'/'3(*(%/-')"]H%")%" 66%L.F./")'6W./"'-'&J.&!"RH&./-%"B"+13.+.)K"I.)-." 6')"

.`')"#<A=K"%6":%&(E+(3'"9<8,%-.()#:.-&'3(/E"3'/3H&)')"%/" 6')"]H%" 6."*.+&%"%&.":&%*(.+."

:'&"^6."3./-(+.+"+%"I(b')"]H%"'5&%3(%&."." 6."i.-&(." Xk6."*.+&%" 5%3H/+.lC_!" ",)-'K" 3'*'"H/"

&%56%b'"+%"6."-&./)(3(E/"+%"H/."3H6-H&."&H&.6"-&.+(3('/.6"."H/."H&F./."(/+H)-&(.6(G.+.K":'3'"."

:'3'"%*:%GE"."3.*F(.&"[K"%/"%)-."+13.+."X%/"6')"A8CK"%6"%b%"L.6E&(3'"3'*%/G.F.""."*H-.&"

I.3(."6."3.6(+.+"+%"I(b')"]H%")%":&'+Hb%&.K"["/'"-./-'"."6."3./-(+.+!"i%&'K".+%*a)"+%"]H%"

%)-%" 3.*F('" 5H%" J&.+H.6K" /'" +%b.F." +%" %)-.&" :&%)%/-%" 6." L.6'&(G.3(E/" .6" ).3&(5(3('" [" .6"

)H5&(*(%/-'" X3'*'" 3'*:'/%/-%" 3'/)-(-H-(L'" +%" H/." kFH%/." *.+&%lC4" .)WK" )%" ':-E" :'&"

:&%*(.&K" :'&" %b%*:6'K" ." 6.)"*.+&%)" L(H+.)"]H%"%+H3.&'/" ." )H)"I(b')" 3'/"*a)" ).3&(5(3(')"

X#<A@CK"'K"%/"#<A<K".".]H%66.)"]H%"6')")'F&%L(L(%&'/!"0.(%&"66.*."6.".-%/3(E/")'F&%"%)-'K"[."

]H%"%)":'3'"*a)"+%"H/."+13.+."*a)"-.&+%"]H%"%/"012(3'"3'*%/G.&."."I.F%&" 6."'6."+%"

&%:&%)(E/"]H%"."-./-.)"*.+&%)"+%bE")(/"I(b')M.)"X.)%)(/.+')M.)"'"+%).:.&%3(+')M.)C!"

100

D." 1:'3." %/" ]H%" %)-.)" +')" *.+&%)" L(L%/" 6." +%).:.&(3(E/" +%" )H)" I(b.)" [K"

:')-%&('&*%/-%K" )%"H/%/"%6" T'*(-1" o,H&%p.qK" %)"H/"*'*%/-'":.&-(3H6.&" %/" 3H./-'"." 6')"

3.*F(')" [" -&./)5'&*.3('/%)" J%/1&(3.)" ]H%" )%" %)-.F./" L(L(%/+'" %/" 012(3'!" m.[" H/"

3'/-%2-'"%/"]H%"%6" 5%*(/()*'".:.&%3%"%/" 6."%)3%/." D.-(/'.*%&(3./.K" .H/]H%"/'" 3'/" 6."

*()*."5H%&G."]H%"%/"'-&')":.W)%)!",6"5%*(/()*'"6.-(/'.*%&(3./'K"%/"6')".`')"?8K"[."%)-.F."

)H&J(%/+'"3'*'"%3'"+%"6'"]H%".3'/-%3W./"%/"'-&')":.W)%)"^+%).&&'66.+')_"X,)-.+')"S/(+')K"

:.W)%)"+%",H&':.K" %-3!C!" V(/"%*F.&J'K" %)-%"*'L(*(%/-'" 5H%":&'-.J'/(G.+'"[":%&*./%3(E"

.3'-.+'" ." 3(%&-')" /(L%6%)" )'3('%3'/E*(3')" X*Hb%&%)" +%" )%3-'&%)" .6-')" [" *%+(')K"

:&(/3(:.6*%/-%" :&'5%)('/()-.)C!" V'/" :%]H%`')" J&H:')" +%" 3'/3(%/3(." 6')" ]H%" )H&J%/" ["

3H%)-('/./"6.":')(3(E/"+%"J1/%&'K"["^%6"5%*(/()*'"%/-%/+(+'"%/")H"L%&-(%/-%"'&(J(/.6"+%"6')"

:.W)%)" (/+H)-&(.6(G.+')" \3'*'" 6." :&(*.3W." +%" J1/%&'" )'F&%" '-&')" %b%)" +%" (+%/-(+.+" [" ."

3'/3(%/3(.":.&.")W"%/"3H./-'"."6."*'+(5(3.3(E/"+%"6.":')(3(E/")'3(.6"+%"+%)(JH.6+.+"+%"6.)"

*Hb%&%)9"/'"&%J()-&E"6."%2:./)(E/"["L(-.6(+.+"3'*'"%/"6')":.W)%)"+%6"O'&-%!_"X0.(%&K"=88#4"

7AC!"0%/3('/."y.&J.)"&%):%3-'".6"*'L(*(%/-'")'3(.6"+%"*Hb%&%)"]H%"^%)-%"*'L(*(%/-'>"

/'" &%56%b." H/" :&'3%)'" I'*'J1/%'K" )(/'" *a)" F(%/" H/." :6H&.6(+.+" +%" :&'3%)')" ]H%"

*H%)-&./" 6.)"+(L%&).)" [" 3'/-&.+(3-'&(.)" &%.6(+.+%)"%/"]H%" )%" (/)%&-./" 6.)"*Hb%&%)" ["]H%"

J%/%&."+(5%&%/-%)":')(3('/%)9)Hb%-'"]H%"/'")'/")(*:6%*%/-%"&%+H3(F6%)".")H"&%.6(+.+"+%"

J1/%&'_"X%/"0.(%&K"=88#4"7;C!""D')":&'3%)')"["6')":')(F6%)"3.*F(')"%/"3H./-'"."6')"&'6%)"+%"

J1/%&'K" 3'/" )H)" :.&-(3H6.&(+.+%)" ["*.-(3%)K" ." 6')" ]H%" %)-.)"*Hb%&%)" )%" %/5&%/-.&a/K" )%"

L%&a/" %/" %6" 3.:W-H6'" @!" T.F%" )E6'" *%/3('/.&" ]H%K" .H/]H%" [." %2()-W." %)-%" *.&3'" +%"

&%5%&%/3(." +%6" 5%*(/()*'" %/" %)-." 1:'3." 9]H%" 3(%&-.*%/-%" :H+'" 5H/J(&" 3'*'" H/."

:6.-.5'&*."+%":')(F(6(+.+":.&."6.".:.&(3(E/"+%".*.)"+%"3.)."%/"6."%)3%/.":cF6(3."[":'6W-(3."

+%"012(3'9"%)-.)"+')"*Hb%&%)"XP%[/."["Y3%6.CK"3'*'")%"L%&a"."3'/-(/H.3(E/K"3&%3(%&'/"[")%"

+%).&&'66.&'/" %/" H/" 3'/-%2-'" %/" %6" ]H%" 6')" &%5%&%/-%)" 3H6-H&.6%)" +%" 6'" ]H%" )(J/(5(3." )%&"

*Hb%&".c/"/'")%"I.FW./"+%).-.+'K"[" 6'"3.&J./"3'/)(J'"+%)+%"%6")%/'"*.-%&/'"[":.-%&/'K"

66%La/+'6'"I.)-."%6"/H%L'"/c36%'"5.*(6(.&":&':('!",)".":.&-(&"+%" 6')"*()*')"%/3H%/-&')"["

+%)%/3H%/-&')"3'/")H)"I(b.)"X]H%")W":%&-%/%3%/"."6."J%/%&.3(E/"]H%"L(L(E"%)-')"3.*F(')"%/"

3.&/%" :&':(.C" ]H%" Y3%6." [" P%[/." 3'*(%/G./" -.*F(1/" ." 3'/'3%&" [" L(L(&" L(3.&(.*%/-%" 6')"

/H%L')":.&a*%-&')"3H6-H&.6%)"J%/1&(3')!",6"3.)'"+%"Y(3%6."%)"*H["+()-(/-'4":.&-%/%3(%/+'"

101

*a)"." 6."J%/%&.3(E/"+%" 6.)"I(b.)"+%"P%[/."["Y3%6.K" -.*F(1/" 6%" -'3."L(L(&"H/"3'/-%2-'"+%"

-&./)(3(E/" %/" %)-%" )%/-(+'!" T'*'" )%" L%&a" ." 3'/-(/H.3(E/K" 3.&J." H/" F.J.b%" 3H6-H&.6"*a)"

-&.+(3('/.6()-.K" :%&'" -.*F(1/" 6'J&." %)3.:.&" ." 3'/-%2-')" 3H6-H&.6*%/-%" +()-(/-')"

X%)-H+(./-(6%)"["H&F./')C"%/"6')"]H%":H%+%":'/%&"%/":&a3-(3."*H3I')"+%"6')":&(/3(:(')"]H%"

6."J%/%&.3(E/"+%"bEL%/%)"+%"6')".`')"?8":&'*H6J.F."%/"3H./-'".6"6HJ.&"+%"6."*Hb%&"%/"6."

)'3(%+.+!"

"

T'*'"%:WJ&.5%".6")(JH(%/-%".:.&-.+'":'+%*')"&%3H&&(&"."0.(%&K"]H(%/".5(&*."]H%"

"

"50# 85"0+(# %"# 7"%().="8./0# +,%# ,D,)8.8.(# *"&,)0(# 8(*,0=/# "# 4.)")# +,# 8"0&.+"+# "# 8"%.+"+?#

*"0.',-&"0+(#"-W#%"-#&,0+,08."-#+,*(4)Y'.8"-#+,%#$)(8,-(#+,#*(+,)0.="8./0#.0+5-&)."%#-56"%&,)0"#

{C# ),'%,D"0+(# %"-# $(%W&.8"-# $(6%"8.(0"%,-# +,# %(-# $"W-,-# A,4,*/0.8(-[?# ,-# -54,),0&,# (6-,)7")# %(#

$)('50+"*,0&,#,0)".="+"-#]5,#-(0?#,0#&;)*.0(-#85%&5)"%,-?# %"-#8")"8&,)W-&.8"-#+,#%"#"60,4"8./0#C#

,%#-"8).'.8.(?#]5,#"50#A(C#,0#+W"#-.45,0#")&.85%"0+(#,%#,D,)8.8.(#+,#%"#*"&,)0.+"+#*,<.8"0"2#X0.(%&K"=88#4"<;C""

102

&E2E2Z2E2F !"#*5D,)#,0#%"#'"*.%.">#P*.+&%):').T#

"

R%" %)-.)" -&%)" *Hb%&%)" :'+%*')" I.F6.&" +%" +')" *'*%/-')K" +%" +')" /c36%')" 5.*(6(.&%)"

:&(/3(:.6%)!" ,6" :&(*%&'K" ./-%)" +%" ).6(&)%" +%" )H" I'J.&" :.-%&/'M*.-%&/'K" [" %6" )%JH/+'" X'"

:')-%&('&%)" I'J.&%)C" +%):H1)" +%" I.3%&6'!" Y/.6(G.&" %6" :&(*%&'" [" %2:6'&.&" 3E*'" 5H%&'/"

)'3(.6(G.+.)"J%/1&(3.*%/-%"%)-.)"-&%)"*Hb%&%)"+%/-&'"+%")H)"5.*(6(.)":H%+%".[H+.&/')"."

%/-%/+%&"6')"3'/-%2-')"]H%")%"L(/3H6./"3'/"6.)"+(/a*(3.)K"6.)".)(*%-&W.)"["6.)"&%6.3('/%)"+%"

:'+%&"]H%")%"3'/5(JH&./"%/"6')"I'J.&%)")HF)%3H%/-%)"["]H%"bH%J./"H/"&'6"%/"6."Fc)]H%+."

+%" 6')" 5.*(6(.&%)K" %/" 6." :.&-(3(:.3(E/" :'6W-(3." %/" %6" T'*(-1" o,H&%p.q" [" %/" 6.)" -%/)('/%)"

)H&J(+.)".":.&-(&"+%"1)-.!""

,/"3H./-'"."6.")'3(.6(G.3(E/"J%/1&(3.K"D.J.&+%"*%/3('/."]H%")'/"6.)"*Hb%&%)"%6"/c36%'"

+%"6')"J&H:')"+'*1)-(3')K"%/"-'&/'"."]H(%/%)"J(&."6."%2()-%/3(."["-&.F.b'"+%"%)-')"c6-(*')!"

R%/-&'" +%" 6." )'3(%+.+" [" 3H6-H&." :.-&(.&3.6%)" 9%)-'" :.)." )(/" +H+." %/" %6" 3.)'" +%" P%[/." ["

Y3%6.9" 6." *.+&%):')." X5(JH&." )(*FE6(3." :'&" )H" 5H/3(E/C" %)" 6." ]H%" '&J./(G.K" +." 6HJ.&K"

3'/)%&L."["&%:&'+H3%"%)-')"%):.3(')!"XD.J.&+%K"#<<8C""

"

"3 !"#+.7.-./0#+,%#&)"6"D(#C#%(-#+,6,),-#

"

,/" %6" 3.)'" +%" %)-.)" -&%)"*Hb%&%)" :'+&W.*')" 3'*%/G.&" +(3(%/+'" ]H%" 5H%&'/" %+H3.+.)" [""

)'3(.6(G.+.)"J%/1&(3.*%/-%"F.b'"3(%&-')":.&a*%-&')"3H6-H&.6%)"-&.+(3('/.6%)K"+%/-&'"+%"6')"

3H.6%)")%"3'/3(F%"93'*'"H/"*./+.-'"(/)3&(-'9"6."&%.6(G.3(E/"+%"6."*Hb%&K""#$,-")"+%"'-&.)"

.):(&.3('/%)"(/+(L(+H.6%)K"%/"-./-'")%"%)"*.+&%"["%):')."X3'*'"H/"6HJ.&")(*FE6(3'C!",/"%6"

3.)'" -./-'" +%" P%[/." 3'*'" +%" Y(3%6." X6." I%&*./." +%" +%).:.&%3(+'K" ]H%" %)" [." +%" '-&."

J%/%&.3(E/CK"%2()-%"H/."36.&.":&%)%/3(."+%"H/" b%5%" XI'*F&%C"+%" 5.*(6(."["H/."+(L()(E/"+%"

-.&%.)"+%/-&'"+%6")%/'"5.*(6(.&"]H%"3'/5(&*."6')":.-&'/%)"+%"&'6%)"+(3-.+')":'&")'3(%+.+%)"

:.-&(.&3.6%)" [" ]H%" &%:&'+H3%" 6')" %b%)" +%" :'+%&" -./-'" +%" 3'&-%" J%/1&(3'" X+%" I'*F&%)" ."

*Hb%&%)CK"3'*'"+%"3'&-%"J%/%&.3('/.6"X+%"*.['&%)"."*%/'&%)d"+%":.+&%)"."I(b')K"%-3C!",)"

%6"I'*F&%"]H(%/")%"^%):%3(.6(G._"%/"6.":&'+H33(E/"%3'/E*(3.K")'3(.6*%/-%"&%3'/'3(+.K"["

6."*Hb%&" .6" 3H(+.+'"+%6" a*F(-'"+'*1)-(3'd" -&.F.b./+'" -.*F(1/"%/" 6." %*:&%)." -./-'"+%6"

103

:.+&%" 3'*'" +%6" I'J.&K" :%&'" )(/" &%3'/'31&)%6%" )'3(.6*%/-%" %)-')" +')" a*F(-')" 3'*'"

:&':(.*%/-%"6.F'&.6%)"[":&'+H3-(L')!"V%"-&.-."+%6"I'*F&%"]H%"^+(&(J%_"6."%*:&%)."5.*(6(.&"

X%3'/E*(3.*%/-%C"[")%"'3H:."+%"]H%"6')"'-&')"XI(b')K"%):').C"3H*:6./"6')"&'6%)"]H%"%)-a/"

+%)-(/.+')" ." 3H*:6(&" )(/" 3H%)-('/.*(%/-'" .6JH/'!" ,)" ]H(%/" %/3.&/." %6" ^:&(/3(:('" +%"

.H-'&(+.+" 3'/" 3'/-&'6" [" .+*(/()-&.3(E/" +%" &%3H&)')" %3'/E*(3')" [" IH*./')_" XT.6L%(&'K"

=88A4" @#C" ,6" -(%*:'" +%" 6')" '-&')" %)" +%" )H" :&':(%+.+!" $./-'" 6')" I(b')" X*a)" 6.)" I(b.)" %/"

3(%&-.)"-.&%.)"+%"3'&-%"*a)"^+'*1)-(3'_C"3'*'"6."%):').K".:'&-./".6")H)-%/-'"+%6"I'J.&K"

:%&'"6'"I.3%/"3'6.F'&./+'K"3'*'"*./+.-'K"-&.F.b./+'"$")""%6"b%5%"+%"5.*(6(."X%)"+%3(&K"/'"

)%"6%)"&%3'/'3%"%6"-&.F.b'"3'*'")H['K")(/'"3'*'"+%"3'6.F'&.3(E/C!",)-'"-.*F(1/"-'*./+'"

%/"3H%/-."]H%"6."3.:.3(+.+"+%")H)-%/-.F(6(+.+"+%"6.)"5.*(6(.)"%)-a"F.).+."%/"6."5H%&G."+%"

-&.F.b'"]H%"&%:&%)%/-./")H)"*(%*F&')BB!"D')"I(b')"/'"-(%/%/K"%/"%)-%"%)]H%*.K"':3(E/"+%"

+%3(+(&d")H)"-.&%.)")'/"+(3-.+.)"+%)+%"^.&&(F._"X:'&".6JH/'"+%"6')":.+&%)"'":'&".*F')C"["

)'/"(/.:%6.F6%)!"V%"(*:'/%K".)WK"H/"^LW/3H6'"+%"'F%+(%/3(.K"*%+(./-%"%6"3H.6")%".)%JH&./K"

%/-&%"'-&.)"3').)K" 6.".:&':(.3(E/"+%" 6.)":%&)'/.)"[" 6')" -(%*:')"+%" 6')"I(b')"[" Ç*%/'&%)ÇK"

*(%/-&.)")%"*./-%/J./"%/"+%:%/+%/3(."+%"6."5.*(6(.!_"XT.6L%(&'K"=88A4"@#9@=C""

"

R%)+%":%]H%`.)K"%/")H"3.6(+.+"+%"I(b.)"["+%"*Hb%&%)K"[":%&-%/%3(%/-%)"."5.*(6(.)"J&./+%)"

3'/"+(5(3H6-.+%)"["%)-&%3I%G"%3'/E*(3.)K"%6"-(%*:'"+%"P%[/.K"Y3%6."["Y(3%6."\"]H%"-%&*(/."

I.)-."3(%&-'":H/-'":'&"/'":%&-%/%3%&6%)9")%"+(L(+W."%/-&%"6."%)3H%6.K"%/-&%"6')"+%F%&%)"+%"

6."%*:&%)."5.*(6(.&"X3'*%&3('K"3.*:'K"/%J'3('"+%"6."5.*(6(.C"[K":'&")("5H%&.":'3'K"%/-&%"6')"

+%F%&%)"+'*1)-(3')4"

"

_N!O5!",)&,$&;"&,H!&()#+,+!")&,$&C$D"!&$"&%;&W;$O5)`&

&

S># t222u# *.# *"*Y?# 0(-# %%,7"6"# "# \(8A.<&%Y0# "# A"8,)# 8(*$)"-?# C# ,%%"# &"*6.;0?# 8(*(# 7,0+W"# %"-#

&()&.%%"-?#85"0+(#+,8W"#,%%"#H&,#7"-#"#$")")#*"J"0"#t222u#x#&,#7"-#"#$")")#"#,-"#A()"2#L"*.0"0+(#+(-#

(#&),-#A()"-#+,#*.#&.,))"#A"8."#\(8A.<&%Y02#t222u#\(#A"6W"#8"))(-?#0(#A"6W"#0"+"2#x#0(-#&,0W"*(-#]5,#

$")")# "# %"-222# -,.-# +,# %"#*"J"0"?# t222u# C# C"#*.# $"$Y# +.8,# H-"8"# %(-# 6()),4(-?# $()]5,# A"8,#*58A"#

8"%()?# C# C"# %%;7"&,%(-# "%# 8"*$(2# RAW# 7.,0,-# "# ,08,))")%(-# $")"# ]5,# &,# 7"-# "# %"# ,-85,%"2# x# "AW# C(#

BB" Y/-%"%6"+%).*:.&'"["+%):&'-%33(E/")'3(.6%)"["%3'/E*(3')"%)-.-.6%)K"&%.6(+.+".`%b."3'*:.&-(+.":'&"3.)("

-'+')" 6')":.W)%)"+%"Y*1&(3."D.-(/.K")(/"%)-')" 6.G')"+%"3'6.F'&.3(E/"%/-&%" 6')"5.*(6(.&%)"/'"%)":')(F6%"%6")H)-%/-'"%3'/E*(3'!"

104

%%,7"6"#*.#85"+,)0(?#*.# %.6)(?#C#"AW#,-&"6"#8(*(#v,0.&(#a5Y),=?#,-&5+."0+(2#x#),85,)+(#*58A(#%"#

A.-&()."#+,#v,0.&(#a5Y),=2#Q5,#%(#),4"%")(0#-5-#&W(-2#9%#&W(#v,)0")+.0(?#C#85.+"6"#"#-5-#6()),4(-?#C#

A"6%"6"#,%#.+.(*"#*.<&,8(?#C#%,#A"6%"6"#"#-5-#6()),45.&(-2#x#C(#"AW#A"8.,0+(#*.#&"),"2#RAW?#,0#50"#

$.,+)"?#-,0&"+"2#9-(#,)"#,%#+W"#8(&.+."0(2#x#0(-#$")"6"0#&,*$)"0(?#0(#0(-#+,D"6"0#+()*.)2#XP%[/.K"=8#8C##

_N!O5!",)&,$&;"&,H!&()#+,+!")&,$&A($5!&$"&%;&W;$O5)a`&&R>#:A222#50(-#-.,&,#"J(-?#(8A(#"J(-?#85"0+(#0(-#'5.*(-#"AW#8(0#,%%(-#t8(0#-5-#"65,%(-u2#:.#*"*Y#

-,# 7.0(# "8Y# "# &)"6"D")?# C# C"# 85"0+(# ,-&57(# $5,-#*Y-# (#*,0(-# ,-&"6%,8.+"# C# &,0W"# 50"# 8"-"# ,0#

+(0+,#,-&")#0(-(&)(-?#C"#'5,#85"0+(#0(-#*"0+/#&)",)2#V,)(#C"#"AW#8(0#%"#"65,%.&"?#8(0#-5#*"*Y#+,#

,%%"?# C"#0(-#,0-,J/222#\(-# %%,7"6"#"# %"#,-85,%"#C# &(+(#,-(?#$,)(?#"%# %%,4")?#$5,-#"# %"7")# &)"-&,-?#"#

"C5+")#"#6")),)222#9)"#%(#]5,#A"8W"*(-2#V()]5,#8(-"-#$,-"+"-?#0(2#x#$5,-#-5#$"$Y#+,#*.#*"*Y?#;%#

,)"# 8"$()"%?# ]5,# %,-# 0(*6)"02# t222u# ;%# A"8W"# %"-222# %"-# 85")&"-?# C# &(+(# %(# ]5,# %%,7"# 50# 8"6"%%(?# %"-#

8,)+"-#]5,#%,#0(*6)"6"0?#C#%"-#6()+"6"2#t1u#\(-(&)(-#%,#"C5+Y6"*(-#"#A.%")2"XY3%6.K"=8#8C""&_aD&5;$G)&$"&5!&6,'`"#!>#Px#%5,4(#"#]5;#A()"#-"%W"0#+,#%"#,-85,%"T#

R>#R#%"-#FE2#t1u#"#8(*,)?#C#C"#%5,4(#0(-#W6"*(-222#t222u#!"7Y6"*(-#05,-&)(-#&)"-&,-#C#C"#0(-#W6"*(-#

"222# "# &)"6"D")2# t1u# !"7")# &)"-&,-?# &)"$,")# %(-# $.-(-?# -"85+.)222# t222u# V5,-# C(# &)"6"D;# A"-&"# %(-# +(8,#

"J(-2#x"#+,-$5;-#*,#'5.#"#&)"6"D")#+,#$%"0&"2#x"#8(0#-5-#*.-*"-#$"&)(0"-#+,#*.#*"*Y?#0(-#'5.*[[#

q#-,"#]5,?#$")"#&,)*.0")#C(#,%#-,<&(#"J(?#C"#,-&57,#"AW#,0#,-"#8"-"2#:,#+"6"0#$,)*.-(#+,#.)*,#"#

,-&5+.")?# C# C"# ),4),-"6"#C# ,-&"6"#C(#"AW?# C#"AW#*,#]5,+"6"2#V()]5,# &"*6.;0#,-&"6"# 8,)8"#+,# %"#

,-85,%"2#bW?#,)"#,0#%"#8(%(0."#\")7")&,2#q#-,"#]5,#,-&"6"#&(+(#*5C222#*5C#8,)8"?#C##-(6),#&(+(?#P0(T#

Q5,#*.#*"*Y#,-&"6"#"%#&"0&(#+,#0(-(&)(-!"XY3%6.K"=8#8C"""_N!O5!",)&,$&;"&,H!&()#+,+!")&,$&A+($5!&$"&%;&W;$O5)`&#R>#RAW?#+,-+,#]5,#C(#),85,)+(?#&),-?#85"&)(#"J(-?#C"#"C5+Y6"*(-#"#-56.)#,%#8(-&"%#$")"#,%#

8"8"A5"&,2#t222u#

I,-+,#8A.]5.&(-#"#0(-(&)(-#0(-#.08()$()"0?#C#"AW#;)"*(-#"%#$"),D(222#A(*6),-?#*5D,),-2#l-"#,)"#

05,-&)"#"8&.7.+"+#+,#0.J(-2#x#C"#85"0+(#'5.*(-#8),8.,0+(?#C"#&,0W"*(-#]5,#&(-&")#,%#8"8"A5"&,2##

t1u#L(*(#"# %(-#05,7,#"J(-?#(8A(#"J(-?# t1u#"0&,-#+,# .)#"# %"#,-85,%"?#C(#C"#&,0W"#]5,#A"6,)# .+(#"%#

*(%.0(2##

#

!>#PG,#%,7"0&"6"-##"#]5;#A()"T#

#

R>#o>Zf"*2#x(#-W#*,#$");#"#,-"#A()"?#$()]5,#C(#,)"# %"#+,# .)222#G,#7(C#"#+,8.)#$()#]5;# .6"2# j6"?#0(#

$()]5,#*,#A56.,)"0#+.8A(#H&X#&.,0,-#]5,#.)K?#-.0(#$()]5,#C(#*,#%,7"0&"6"#,#.6"2#V()]5,#%%,4"6"#*.#

*"*Y#C#+,8W"?#%,#+,8W"#"#*.#A,)*"0"#t1u#Hx"#7"#"#%%,4")#&5#$"$Y#C#7"#"#+,-"C50")K2##l%#+,-"C50"6"#

"#%"-#-,.-2#t1u#90&(08,-#C(?#"%#7,)#]5,#,%%"#0(#-,#$")"6"?#*,#$")"6"#C(2#x#C(#+,8W"#HC(#7(CK2#x#"-W#C(#

"-5*W# ,-,#$"$,%?# +,# &(+(-# %(-#+W"-# .)# "%#*(%.0(2# x# 85"0+(# C(# %%,4"6"#+,# %"# ,-85,%"# ?# .45"%# C(#*,#

.*$5-,#(&)"#&"),"2#9%#+,#A"8,)#,%#"-,(2#t1u#I.").(?#+.").(?#+.").(?#+.").(2#9-#*Y-2#R#7,8,-#C"#%(#A"6W"0#

A,8A(#C#C(#%%,4"6"#C#%(#),$,&W"2##t1u#@"6W"#+(-#8(-"->#50"?#]5,#"#*W#*,#45-&"6"#")),4%")?#50#$(8(#

$()#45-&(2#x#(&)(?#$5,-#$()]5,#C(#-,0&W"?#0(#-;?#,%#$)(6%,*"#,0&),#*.#*"*Y#C#*.#$"$Y#*,#"',8&"6"#

"#*W2#90&(08,-#8(*(#]5,#C(#]5,)W"#,7.&")#85"%]5.,)#8A(]5,222#t222u#222#C#"#%(#*,D()#A"8.,0+(#8(-"-#,)"#

105

8(*(#C(222t1u#%"#'()*"#+,#"C5+")2#t1u#90&(08,-222#"A?#%"#&"),"?#%"7")#%"#)($"#(#6"J")*,222#,-(#,-#%(#

]5,#A"8W"#+,#),4),-(#+,#%"#,-85,%"2##

#

!>#\.#8A"08,#+,#D54")222#

#

R># PI,# D54")T#x"# 8(*(#"# %"-# -,.-#+,# %"# &")+,2# 9)"# %"#A()"#,0#]5,# 8(*(#]5,# &(+(-# C"#,-&Y6"*(-#

+,-(85$"+(-2#x"#"#,-"#A()"#C"#0(#-,#,-&Y#&(-&"0+(#,%#8"8"A5"&,2#t1u#L(*(#]5,#,0#,-"#A()"#-,#0(-#

&(%,)"6"2#XY(3%6.K"=8#8C""

S/."L%G"]H%"%)-.)"*Hb%&%)").6%/"+%6")%/'"*.-%&/'"X[":.-%&/'CK":'&"6'"*%/')"%/"%6"3.)'"+%"

6.)" +')"*.+&%)K" )(JH%/" &%:&'+H3(1/+')%K" I.)-." 3(%&-'" :H/-'K" %)-')" :.:%6%)K" 6." :')(3(E/"

I%&%+.+."+%")HF'&+(/.3(E/BA"%"(/-%&*%+(.3(E/"["+%"H/."/'"&%3'/'3(+."^3'9:&'+H33(E/_!"

z'%I*"*%/3('/." ]H%" ^)(" .3.)'" 6."*Hb%&" :.&-(3(:." 6.F'&.6*%/-%" %/" .6JH/." %*:&%).K" )H"

a*F(-'"/'"-&.)3(%/+%"%6")%3&%-.&(.6!_"Xz'%I*4"A@8CB7"",)"1)-%"%6"3.)'"36.&'"-./-'"+%"P%[/."

3'*'"+%"Y3%6.!"D.":&(*%&.K".+%*a)"+%6"-&.F.b'"]H%"%6"3H(+.+'"+%6"I'J.&"["+%"6')"I(b')"X<C"

(*:6(3.K" )(%*:&%" :.&-(3(:E" [" 3'6.F'&E" -./-'" %/" 6')" /%J'3(')" +%" )H" %):')'" XL%/+%+'&K"

:&(*%&'K" +%" 5&H-.K" [" 6H%J'" +%" H/." -(%/+." +%" .F.&&'-%)CK" 3'*'" %/" 6.)" 6.F'&%)" +%6" I'J.&!"

Y+%*a)"+%"]H%"-.*F(1/K":')-%&('&*%/-%K"L%/+W.":&'+H3-')"3')*1-(3')"X:'&"3.-a6'J'C"+%"

:H%&-."%/":H%&-."["%/")H)"3W&3H6')")'3(.6%)"X(J6%)(.K"L%3(/+.+K"%-3!C!"V(/"%*F.&J'K".H/]H%"

%/")H"+()3H&)'")%":H%+%"+%-%3-.&"%6"1/5.)()"+%"-'+'"%6"-&.F.b'"["+%)J.)-%"]H%")H)"-.&%.)"

(*:6(3.F./K"/'")%"&%3'/'3%/"1)-.)":&':(.*%/-%"3'*'"5'&*.)"%"6()"%,-#'"+%"$)(+588./0K"'"

)%":%&3(F%/"3'*'".b%/.)"X+%6"*.&(+'C4"

"

!>#Px#5-&,+#t222u#]5;#%%,4/#"#A"8,)?#85"0+(#-,#7.0(#$")"#"8YT#

S>#V5,-#0(#A.8,#0"+"#,0#,-,#&.,*$(2#V5,-#85.+"6"#"#*.-#A.D(-#8A.]5.&(-?#8A.]5.&(-2##

!>#MQ5,#,)"#6"-&"0&,#&)"6"D(222O#

S>#MbWO#t).-"-u#x#$5,-#C"#t222u#8),8.,)(0#50#$(8(#*Y-?#C#C"#85"0+(#;%#7,0+W"#"-W#+,#"*65%"0&,?#C"#%,#

"C5+"6"# "# %"7")# %"# ')5&"?# "# $.8")# %"# ')5&"# (# "222# "# A"8,)# %"-# *.,%,-# $")"# ,%# )"-$"+(?# (# %(-#

8A.8A"))(0,-222#x#A"6W"#"]5W#8"*$(-222#$()]5,#A"6W"#*58A(#8"*$(?#C#"AW#.6"#"#7,0+,)2#t1u#x#,-(#'5,#

-5#&)"6"D(2#XP%[/.K"=8#8C""

BA" Y6"*%/')"%/" 6."+(/a*(3."L()(F6%"[":&%)%/-.+.".6"%2-%&('&d"%)-'"/'")(J/(5(3.K" )(/"%*F.&J'K"]H%"3'%2()-./"

'-&.)" 5'&*.)" +%" &%)()-%/3(.)" [" +%" %b%&3(3(')" +%" :'+%&" \-.6" L%G" *a)" L%6.+.)" [" /'" .F(%&-.*%/-%"&%3'/'3(+.)9":'&":.&-%"+%"%)-.)"*Hb%&%)!"

B7" z'%I*" 3'/36H[%" %)-'" +%" H/" %)-H+('" +%" 3.)'" 66%L.+'" ." 3.F'" :.&-(3H6.&*%/-%" %/" Ä.*'&.K" 0(3I'.3a/K"I.F6./+'"+%"5.*(6(.)"'6(Ja&]H(3.)!"V(/"%*F.&J'"6'"&%-'*'":'&]H%":(%/)'"]H%"%)"%)-%":.:%6"%6"]H%")%"6%")H%6%".-&(FH(&K"+%)+%"6."5.*(6(.K")'F&%"-'+'"."+')"+%"6.)"(/5'&*./-%)"%/-&%L()-.+.)!"

106

Y"Y3%6." )H"%):')'K".":%).&"+%")H"+(5W3(6" )(-H.3(E/"%3'/E*(3.K"H/."L%G"]H%")%"3.).&'/K"/'" 6."+%bE"

-&.F.b.&!",66."L%/+W."*./H.6(+.+%)"]H%"-%bW."."%)3'/+(+.)4"

R8,%">#t1u#x(#-W#]5,)W"#-,45.)#&)"6"D"0+(#C#H-W?#-W?#&,#+,D(#&)"6"D")K2#x#C(#H"A?#65,0(?#,0&(08,-#-W#*,#

8"-(2K#V,)(#0(?#C"#0(#*,#+,D")(02#t222u#:,#"*"))/#C222#0(?#0(#%,#45-&"6"#]5,#&)"6"D")"2##

R>#V5,-#),"%*,0&,#,)"#*5C#$(8(#%(#]5,#%,#$"4"6"02#L5"),0&"#$,-(-#-,*"0"%,-2##

!>#Px#8/*(#%,#A"8W"0#"]5W#$")"#%.6)")%"T#

R>#V5,-222#D"%Y0+(%,#C#D"%Y0+(%,2##

!>#P^-&,+#A"8W"#"%4(#,<&)"T#

R># \(?# 0508"# %,# 45-&/# ]5,# &)"6"D")"2# R#*W#*,# 45-&/# -.,*$),# &,D,)?# ,0&(08,-# C(# 7,0+W"?# $,)(# "#

,-8(0+.+"-#+,#;%?#]5,#0(#-,#+.,)"#85,0&"2#t222u#\(#%,#45-&"6"#]5,#C(#&)"6"D")"2#XY3%6.K"=8#8C##

Y+%*a)K"%2()-%"%/"%6"+()3H&)'"+%"Y3%6."H/"3'/)-./-%"(/-%/-'"+%"&%(L(/+(3.3(E/"+%6"*.&(+'"."

-&.L1)"+%")H"&'6"3'*'":&'L%%+'&!"Y"3'/-(/H.3(E/"+')"%b%*:6')4"

#

F3 V5,-# &,0W"# 8"-.# 50"# ,-$,8."%.+"+# ,0# ,%# &()0(# t1u# "# +(0+,# ]5.,)"# 'Y8.%# ,0&)/2# P;$& 7;D&(;7W5+,)B&7;D&#0!O!b!,)0'#XY3%6.K"=8#8C"

E3 R>#222+"6"0#'"8.%.+"+,-#t1u#$()#*,+.(#+,%#6"08(2#x#C"#'5,#8(*(#0(-#+,8.+.*(-#"#7,0.)#"]5W2"!>#90&(08,-#'5,#8(0#,%#+.0,)(#+,#5-&,+,-1#8(0#,%#+.0,)(#+,#-5#,-$(-(1#

R>#bW?#-W2#c5&%+$7W0$&7;D&(;7W5+,)B&7;D&#0!O!b!,)0'&""

D."&%6.3(E/"%/-&%"6')"*(%*F&')"+%"6.":.&%b."%/"H/."5.*(6(."^(*:6(3."%6"&%3'/'3(*(%/-'"+%"

6." .H-'&(+.+" *.)3H6(/." 3'*'" :'+%&" c6-(*'" [K" %/" 3'/)%3H%/3(.K" 6." .3%:-.3(E/" +%" 6.)"

/'&*.)"]H%"+%"%66."%*././!",)-'":%&*(-%"6.".:&':(.3(E/"+%6"3H%&:'"["6.")%2H.6(+.+"+%"6."

*Hb%&K" .)W" 3'*'"+%":.&-%"+%" )H" -(%*:'K" -&.F.b'"[" 6(F%&-.+"+%"*'L(*(%/-'":'&":.&-%"+%6"

/c36%'" 5.*(6(.&!" D." .H-'&(+.+" +%" J1/%&'" %/" *H3I')" 3.)')" )%" :&'6'/J." ." .6JH/.)" '-&.)"

&%6.3('/%)"+%/-&'"+%"6."5.*(6(.!_"XT.6L%(&'K"=88A4"@=C"D."'F%+(%/3(.K"-./-'"+%"6')"I(b')"I.3(."

)H)":.+&%)K"3'*'"+%"6."%):')."I.3(."%6"%):')'K"%)"H/"L.6'&":&%+'*(/./-%!""

,/" 6." I()-'&(." +%" Y3%6." /'" I.[" H/." 5(JH&." :.-%&/." XI.[" H/" :.+&%K" :%&'" *H%&%" 9

.)%)(/.+'9"3H./+'"%66."-%/W."?".`')"+%"%+.+CK"[")%"&'*:%"%/"%)-%"3.)'"%6"%)]H%*.":'&"%6"

I%3I'" +%" )%&" 6." *.+&%" ]H(%/K" :'&" &.G'/%)" %2-%&/.)K" )%" L%" 'F6(J.+." ." )%&" %6" )H)-%/-'"

%3'/E*(3'" [" ).6%" +%6" I'J.&" :.&." -&.F.b.&" X3'/" .[H+." +%" )H%J&')" [" :.:a)" %/" 3H./-'" .6"

3H(+.+'"+%" 6')"I(b')Cd"*(J&."." 6."T(H+.+"+%"012(3'!"V(/"%*F.&J'K"%)-."&H:-H&."+%6"&'6"+%"

J1/%&'" /'" .63./G." ." +.&)%" 3'*:6%-.*%/-%4" )H" -&.F.b'" -%&*(/." )(%/+'" H/" /H%L'"

3'/5(/.*(%/-'"."H/"%):.3('"+'*1)-(3'"\" -&.F.b.F."+%"%*:6%.+."+'*1)-(3.9K" )E6'"]H%"."

107

H/'".b%/'K"["3'/"3(%&-."&%-&(FH3(E/"%3'/E*(3."X*H["%)3.).Cd"%)K"%/"%)-%")%/-(+'K"H/."+'F6%"

%2:6'-.3(E/!"

"

63 9+58"8./0#

#

i.&-%"+%"6."&%:&'+H33(E/"+%"6."+(/a*(3."+%"6."]H%"I.F6aF.*')"%)"%6":&(L.&"."6.)"*Hb%&%)"+%"

H/." %+H3.3(E/" 5'&*.6" X*a)" .66a" +%" 6." :&(*.&(.C" %" (/3H63.&6%)K" +%)+%" 3I(3.)K" %6" +%F%&" +%"

'3H:.&)%"+%"3(%&-.)"-.&%.)"^+%6"I'J.&_d"%/"%66'"/'")E6'"(/-%&L(%/%"%6":.+&%K")(/'"-.*F(1/"6."

*.+&%"X'K"%/"%6"3.)'"+%"Y3%6.K")H".FH%6."-.*F(1/C!&Y"6."I(b."6."*.+&%"X'".6JH/."'-&."*Hb%&"

*.['&C" 6." (/-&'+H3%"^%/"%6"*H/+'"+%" 6.)"*Hb%&%)K" )H":&':('"%):.3('K"%)-.F6%3(%/+'"H/."

&%6.3(E/" -.*F(1/".*F(L.6%/-%K" +%" 3'*:6(3(+.+" [" 3'*:%-%/3(.K" 6(Ja/+'6." [" &%3I.Ga/+'6.K"

.H*%/-./+'"6.".6(./G."5%*%/(/."["+%F(6(-a/+'6.!",)"]H%"kÑ>Ö"H/."*.+&%"]H(%&%"]H%")H"I(b."

)%." 3.:.G" +%" +%5(/(&" )H)" :&':(.)" /%3%)(+.+%)" 3'*'" )%&" .+H6-'" %" (/+%:%/+(%/-%K" :%&'" 6."

.3')./" 6.)" +H+.)" :'&]H%" ).F%" ]H%" /'" %)" :&H+%/-%" ]H%" 6." I(b." )%" LH%6L." +%*.)(.+'"

.H-E/'*.K" )(/'" ]H%" +%F%" .:&%/+%&" 5'&*.)" +%" +%:%/+%/3(.l" Xj.6-%&4" A<C" :'&]H%" .)W" 6'"

%2(J%/"6.)"&%6.3('/%)"+%"J1/%&'"L(J%/-%)!_"XT.6L%(&'K"=88A4"@79@?C"

m.F6./+'" +%" .6JH/.)" *.+&%)" ]H%" 0.(%&" %/-&%L()-E" 9:%&-%/%3(%/-%)" %6" T'*(-1"

o,H&%p.q9"*%/3('/."^Ñ!!!Ö":'&"6.)"3')-H*F&%"J%/1&(3.)"3'/)H%-H+(/.&(.)"6%)"5H%&'/"/%J.+')"

6')".33%)')".6"/(L%6"+%"%+H3.3(E/"."]H%".):(&.F./_"X0.(%&K"=88#4"#B=C",/"%6"3.)'"+%"6.)"+')"

*.+&%)K".:%/.)"-%&*(/.&'/"6.":&(*.&(."["/'"^&%3(F(%&'/"'-&."3.:.3(-.3(E/"]H%"/'"5H%&."6."

I()-E&(3."%):%3(.6(G.3(E/"%/"6')"*%/%)-%&%)"[".3-(-H+%)"J%/1&(3')"-&.+(3('/.6%)"+%6"3H%&:'9

:.&.9'-&')!_"X0.(%&K"=88#4"#B#C""

"

C$D"!&

S>#:,# ),85,)+(# ]5,# 0(# 0(-# +,D"6"0# .)# "# %"# ,-85,%"2# t222u# HQ5,# 7"-# "# "$),0+,)# "# A"8,)# "]5W# %"-#

&()&.%%"-?#"#A"8,)#%"#8(*.+"?#"#%"7")?#"#8(-,)222K#x#C(?#%,#+.4(?#-W#"$),0+W#"#8(-,)#t222u2#Hx#"]5W#&,#7"-#"#

-,0&")K2#I,# 7,)"-#]5,#,-(#0(-#+,8W"# %"#*"*Y2# x#"]5W# ,-&"6"#,0'),0&,2# x# -.# 0(# %(#A"8W"*(-#6.,0?#

M$5,-#0(-#+"6"O#t222u#L(-8())/0222#:,#$,4"6"222#R-W#,)"#"%,4),#$()#"%%Y2#t222u#x#,0#%"#,-85,%"?#)Y$.+(#

]5,# "$),0+W2#\(# -;# 8/*(?# $,)(# -W# "$),0+W#*5C# 6.,0?# $")"# ]5;#*,# 7(C# "# ]5,D")2# G,0W"*(-# ,0# %"#

,-85,%"#50#+W"#t222u#,-8).&5)"?#+.65D(?#8"0&(?#").&*;&.8"?#4,(4)"'W"?#4,(*,&)W"?#8.,08."-#0"&5)"%,-?#C222#

$()]5,#W6"*(-#,0#%"#*"J"0"#C#W6"*(-#,0#%"#&")+,#C#A"-&"#%(-#-Y6"+(-2#90&(08,-?#,-&,222#C(#-W#&,0W"#

*5C#65,0"#*,*()."?#C#"$),0+W#"#-5*")?#"#),-&")?#"#*5%&.$%.8")2#!"#+.7.-./0?#*5C#$(]5.&"2#V,)(#-W#

108

%%,45;#"#"$),0+,)2#t222u#!5,4(#C(#+.4(#H$()#]5;#I.(-#*W(#C(#*,#]5,+;#"]5W?#0(*Y-#"-W222K2#XP%[/.K"=8#8C"#A($5!&R8,%"># t:.# *"*Yu# 0(-# +.(# ,-85,%"# A"-&"# +(0+,# 0(-(&)(-# ]5.-.*(-?# P0(T# x# $5,-# %5,4(# C"# 0(#

]5.-.*(-#,-&5+.")#*Y-2#v5,0(?#C(#'5.#%"#]5,#]5,)W"#A"-&"#$).*")."?#P0(T#:.-#A,)*"0(-#,-&57.,)(0#

50#$(]5.&(#*Y-2#t222u#!(-#8A.8(-#"]5W#,-&5+.")(02#\"+"#*Y-#%(-#*"C(),-#"%%Y?#$,)(#"]5W#&,)*.0;#%"#

$).*")."2#t222u#9%#]5.0&(#C#,%#-,<&(#"]5W222#,0#%"#8(%(0."#\"&.7.&"-2"XY3%6.K"=8#8C#tI,-$5;-#+,#%"#,-85,%"u#*.#"65,%.&"#%(#]5,#0(-#$(0W"#,)"#]5,#&,)*.0Y)"*(-#%"-#8(-&5)"-?#,)"#%(#]5,#

%,#.0&,),-"6"#"#,%%"2#q#0(-#,0-,J"6"#"#A"8,)#6"-&.%%"-#t222u#"#%"-#*5D,),-2#\(?#%(-#0.J(-#"#%"-#8"0.8"-2#

V()#,-(#0(-#"$5)Y6"*(-#$")"#]5,#$5+.;)"*(-#-"%.)#"#D54")2#

R>#V5,-222#85"0+(#*.#"65,%.&"#0(-#,0-,J/2#t222u#V()#+,8.)?#,%%"#0(-#,0-,J/#"#%"7")#05,-&)"#)($"2#t222u#

9%%"#0(-#8(8.0"6"2#t222uXY3%6.K"=8#8C#R>#222#"#*W#*,#45-&"6"#*58A(#,-&5+.")#,0',)*,)W"2#b.,*$),#&,0W"#%"-#4"0"-#+,#,-&5+.")#,0',)*,)W"2#

G,0W"*(-#50"#+(8&()"#]5,#*.#*"*Y#8(0(8W"#C#%,#+.D(#]5,#&,0W"#C(#4"0"-#+,#,-&5+.")2#HbW?#-.#]5.,),-#

C(# %,# 7(C# "# .)# ,0-,J"0+(K2# R0&,-# ,)"# 'Y8.%# ,-&5+.")2# \(# ,)"# &"0&(# ),]5.-.&(2# x# ,%%"#*,# ,*$,=/# "#

,0-,J")# $).*,)(-# "5<.%.(-2# V,)(# C"# %5,4(# A56(# %"# ($()&50.+"+# +,# ]5,# ('),8W"0# ,%# &)"6"D(# ,0#

b5*,-"?#C#C"#*,#'5.#C(#$")"#"%%Y2#XY3%6.K"=8#8C"#

,/"Y(3%6.K"3'*'"[.")%"*%/3('/EK"I.["H/").6-'"J%/%&.3('/.6"(*:'&-./-%"[K".H/".)WK"/'"+%b."

+%"&%:&%)%/-.&"+(5(3H6-.+%)K"-%/)('/%)"["3')-')":.&."%66.K"+%/-&'"+%")H"3'/-%2-'"5.*(6(.&"["

%3'/E*(3'K" %6" I%3I'" +%" )%JH(&" [" 3H*:6(&" )H)" .):(&.3('/%)" +%" 5'&*.3(E/" .3.+1*(3'9

:&'5%)('/.6B?!",)-'"6'"6'J&E"J&.3(.)".6".:'['K"(/56H%/3(."%"(/3%/-(L'"+%")H"I%&*./'"y.6%/-W/"

X+%).:.&%3(+'CK"/'"+%")H":.+&%!""

"

R>#\"8W#,0#G,8"*"8A"%8(?#V5,6%"?#C#"AW#*.-*(#,-&5+.;#%"#$).*")."?#%"#-,850+")."#C#%"#$),$")"&()."2#

x(#0(#A.8,#N.0+,)2#t222u#90&);#*5C#0.J"?#*5C#8A.]5.&"?#"#%(-#`#"J(-#C"#,0&);#"#%"#$).*")."222#t222u#:.#

*"*Y#*,#,0-,J/#"#%,,)#C#"#,-8).6.)?#,0&(08,-#C(#,0&);#85"0+(#&,0W"#85"&)(#"J(-?#$,)(#C(#C"#-"6W"#

%,,)# C#,-8).6.)?# ,0&(08,-#,-(#A.=(#]5,222# ]5,#C(#0(# 85)-")"#NW0+,)2# t1u#G,)*.0;#+,#A,8A(#"# %(-#Ff#

"J(-# %"#$).*")."222# t222u# 222#C#+,#"AW#,0&);#"# %"#-,850+")."2#L5"0+(#C(#85*$%W# %(-#Fo#"J(-#C"#,-&"6"#

,4),-"0+(#+,#%"#$),$")"&()."2#

t222u#90&(08,-?#,-&,?#+,-+,#]5,#C(#,-&"6"#,0#%"#$),$")"&()."#&,0W"#.0]5.,&5+,-#t1u#,0#&;)*.0(-#+,222#

+,#%(#]5,#$"-"6"#"#0.7,%#+,#%"#$)(6%,*Y&.8"#-(8."%2#t222u#V")"#,-,#&.,*$(?#-.*5%&Y0,"*,0&,#"#,-&(?#

*.#A,)*"0(#_"%,0&W0#-,#7"#"#%"#L.5+"+#+,#:;<.8(2#x#(67."*,0&,#;%#&)"W"#%.6)(-?#+.-8(-?#,-&,222#V5,-#

-(0#*"&,)."%,-#]5,#+,#"%450"#*"0,)"#t1u#.0'%5C,0#,0#*W#$()]5,#$5,-#C(#%(-#%,W"?# %(-#A(D,"6"?#%(-#

&(*"6"222# x# C(?# "# 0.7,%# $),$")"&()."?# $5,-# *,# 45-&"6"# %"# '.%(-('W"?# *,# 45-&"6"# %"# ,8(0(*W"?# C#

&(*"6"#%(-#%.6)(-#]5,#;%222#]5,#;%#&)"W"2#

R>#90&(08,-?#85"0+(#C(#&,)*.0(#%"#$),$")"&()."?#$5,-?#&,#+,8W"?#85*$%(#"$)(<.*"+"*,0&,#Fo#"J(-?#

C#$5,-#"#,-"#,+"+#0(#$,0-"6"#C(#,0#-,45.)#,-&5+."0+(2#:Y-#]5,#0(#$,0-")"#C(?# -W#]5,)W"#-,45.)#

,-&5+."0+(?#$,)(#*.-#$"$Y-#0(#&,0W"0#%"-#8(0+.8.(0,-#,8(0/*.8"-#$")"#]5,#C(#-.45.,)"#,-&5+."0+(2#

B?" "QF-HL'" %6" J&.+'" +%"*.%)-&." %/"S&F./()*'" X[" 6(3%/3(.+." %/" ,3'/'*W.C" [" " )%" +%+(3." .3-H.6*%/-%" ." 6."

+'3%/3(."%/"H/.":&%:.&.-'&(."X+%"6."zSYiK"%/"iH%F6.C!"

109

t1u#+,#&(+(-#%(-#A,)*"0(-#C(#-(C#%"#X0.8"#]5,#,-&5+./#50"#8")),)"2##x?#,-&,222#$,)(#%"#,-&5+.;#$()#*.#

85,0&"2#t1u#I,-+,#,0&(08,-#C(#]5,)W"#,-&5+.")#,8(0(*W"#(#-(8.(%(4W"2#

#

S/"+.-'"(*:'&-./-%"%)"]H%K"-./-'"%/"%6"3.)'"+%"Y(3%6.K"3'*'"%/"%6"+%"Y3%6.K"6."*.+&%"%)"

5H%/-%" +%" (/3%/-(L'" [" 5'*%/-'" :.&." %6" %)-H+('" +%" )H)" I(b.)K" .H/]H%" .6" 5(/.6" 1)-%" ]H%+%"

%/)'*F&%3(+'K" [." )%." :'&" (*:')(3('/%)" *.)3H6(/.)" X+%6" :.:a" +%" Y(3%6." [" %6" %):')'" +%"

Y3%6.CK":'&"*./+.-')"3H6-H&.6%)"%)-&H3-H&.6%)"[M'" &%)-&(33('/%)"%3'/E*(3.)"3'[H/-H&.6%)"

X:&(*%&'K"6."/%3%)(+.+"+%"-&.F.b.&"[K"*a)".+%6./-%K")H"+%)%'"+%"3.).&)%"["-%/%&"I(b')d"%/"%6"

3.)'"+%"Y(3%6."6'"%3'/E*(3'"5H%"H/"5H%&-%"'F)-a3H6'K":%&'"]H%"/'"6."6'J&E"+%-%/%&C!""

"

83 !"#*5D,)?#*"&,)0.+"+#C#%"#'.45)"#+,#%"#*"+),-$(-"#

"

S/"*.&3'K"H/"%b%"+%"./a6()()"]H%"/')":'+&W.".[H+.&"."%/-%/+%&K"/'"%2I.H)-(L.K")(/'")E6'"

:.&3(.6*%/-%K".6JH/.)"+%"6.)".33('/%)K"-'*."+%"+%3()('/%)K"*'-(L.3('/%)"+%"%)-.)"*Hb%&%)K"

%)" %6" -%*." +%" 6.# *"&,)0.+"+" [K" &%6.3('/.+'" 3'/" 1)-.K" %6" :.:%6" .-&(FH(+'" )'3(.6" ["

3H6-H&.6*%/-%"."6."*Hb%&4"%6"+%"*"+),-$(-"2#i'+&W.")%&K"+(J.*')K"H/'"+%"6')"&%:%&-'&(')"^"#

%"#*"0(_" +%" 6')" ]H%" V3I~-G" [" DH3p*./"I.F6./" %/" !"-# ,-&)58&5)"-# +,%#*50+(#+,# %"#L(+."

X:'&]H%"6.)".33('/%)"/'"/.3%/"%):'/-a/%.*%/-%K"+%#6."/.+.Cd"%)"+%3(&K":'+&W."%/-%/+%&)%"

3'*'" " ^%6"%)3%/.&('"[" 6'"]H%":'/%" 6W*(-%)"." Ñ6.Ö".33(E/_" XV3I~-G"[" DH3p*.//K"=88@4"=?CK"

3'*'" H/'" +%" 6')" " *.&3')" +%" 6.)" .33('/%)" +%" %)-.)" *Hb%&%)" +%/-&'" +%6" 3H.6" :H%+%/"

*'L%&)%" [" -.*F(1/" -&.)J&%+(&" '-&')" %):.3(')!" D')" &%3H&)')" :&':(')" :.&." &%3'/)-&H(&" ["

%)-.F(6(G.&" 6'"+%)-&H(+'"["+%)%)-.F(6(G.+'K" )%&W./":.&-%" -.*F(1/"+%6"*H/+'"+%"L(+.!"i.&."

%)-'"I.F&W."]H%".I'/+.&":&(*%&'"%/"-./-'"%/""6."(+%."+%"6."*"&,)0.+"+#"["%/"%6"3'/3%:-'"

+%"*"+),-$(-"?#["%2:6'&.&"]H1" 5H/3(E/"3H*:6%/"[" 3E*'")%" &%6.3('/./"[" )%"L(L%/"%/" 6.)"

:&%)%/-%)"I()-'&(.)"+%"L(+.!"B;""

"

r/J%6%)"Va/3I%G"z&(/J.)"X=88@C"+%5(/%"6."*.-%&/(+.+"+%"6.")(JH(%/-%"5'&*.4""

B;" ",6"T'*(-1"o,H&%p.qK")("F(%/"%)"H/."'&J./(G.3(E/"]H%"/'")E6'"(/36H[%"."*.+&%)"+%"+%).:.&%3(+')":'6W-(3')K"

/.3%" ." :.&-(&" +%6" %/3H%/-&'" +%"*.+&%)" %/" FH)3." +%" )H)" I(b')K" [" -(%/%" %)-." &%:&%)%/-.3(E/" .6" %2-%&('&K".+%*a)"+%"3'/)(+%&.&)%"."6.)"^+'`.)_"*.+&%)")(*FE6(3.)"+%"'-&.)"6H3I.)K"+%"'-&.)"'&J./(G.3('/%)"X%/-&%"%66.)"m(b')":'&"6."N+%/-(+.+"["6."nH)-(3(.K"3'/-&."%6"Q6L(+'"["%6"V(6%/3('K"m!N!n!Q!V!C!"

110

90#05,-&)"#-(8.,+"+?# %"#*"&,)0.+"+#,-# %"# .0-&.&58./0#]5,#,-&"6%,8,?#$),-8).6,#C#"-.40"#,%# %54")#+,#

*"+),# "# %"-#*5D,),-2# 9-&,# %54")# ,-&Y# +,'.0.+(# ,0# &;)*.0(-# +,# %"# ),%"8./0# -(8."%# $()# %"# 85"%# 50"#

$,)-(0"#[%"#*"+),[#-,#A"8,#8")4(#+,#05&).)?#85.+")#C#"&,0+,)#"#50#.0'"0&,2#!"#&"),"#$).08.$"%#+,#%"#

*"+),# ,-# %"# 8(0-&)588./0# -(8.(85%&5)"%# +,%# 05,7(# -,)?# 8(07,)&.)%(# ,0# $,)-(0"2# V()# %(# 4,0,)"%?# %"#

),%"8./0#8(*.,0="#8(0#%"#4,-&"8./0#+,#50"#05,7"#7.+"?#"50]5,?#,0#*58A(-#8"-(-#0(#%%,7"#8(0-.4(#,%#

$)(8,-(#6.(%/4.8(#+,#+")#7.+"2#V")"#%"-#*5D,),-?#(85$")#,%#%54")#+,#*"+),#,-#50#$)(8,-(#8(*$%,D(#

]5,#.*$%.8"#%"#),+,'.0.8./0#+,#&(+"-#%"-#+.*,0-.(0,-#+,#-5#7.+"2""XVa/3I%GK"=88@4"#@C""

,)-." .H-'&.K" %/" )H" 6(F&'" :5D,),-?# *"&,)0.+"+# C# 8"*6.(2# V)Y8&.8"-# ),$)(+58&.7"-# C#

,<$,).,08."-#*"&,)0"-#,0# %"#8.5+"+#+,#:;<.8(?" 3'/36H[%"H/"&%3'&&(+'"3&'/'6EJ(3'"+%" 6')"

%/5']H%)" [" +()3H)('/%)" %/" -'&/'" ." 6." *.-%&/(+.+K" +(3(%/+'" ]H%" /'" %)" 6." 5H/3(E/"

&%:&'+H3-(L."+%" 6.)"*Hb%&%)K" )(/'"H/":&'3%)'"I()-E&(3'" 6'"]H%"+%5(/%" 6."*.-%&/(+.+!" VH)"

^3.&.3-%&W)-(3.)" +%:%/+%/" +%" 6.)" &%6.3('/%)" )'3(.6%)" [" +%" 6.)" %6.F'&.3('/%)" 3H6-H&.6%)" ."

-&.L1)"+%"6.)"3H.6%)"6.)"*Hb%&%)"3'/)-&H[%/")H"*.-%&/(+.+!_"XVa/3I%GK"=88@4"=#C"

V(/"+%b.&"+%"6.+'"6."3&W-(3."]H%"%)-.".H-'&."I.3%".".6JH/')"%/5']H%)"+%"5(/.6%)"+%"

6')")%)%/-."[":&(/3(:(')"+%"6')")%-%/-."X["%)-./+'"+%".3H%&+'"3'/"1)-.CB<K"%6"3'/3%:-'"+%"

*.-%&/(+.+"3'*'"(+%/-(+.+"5%*%/(/."+%5(/(+."3'*'"85,)$([$")"[(&)(-K")%Jc/"z.).J6(.K"["

3'*'"-,)[+,#C#$")"[(&)(-K" )%Jc/"0.&3%6." D.J.&+%K"%6" 3'/3%:-'"+%"*"+),-$(-"K" -.*F(1/"

+%"D.J.&+%K")%&a/"&%-'*.+')":.&."%6"./a6()()K"/'")(/"%)-.&"%23%/-')"+%")%&"3H%)-('/.+')"'"

&%)(J/(5(3.+')!"

D.J.&+%"I.F6."+%"6."*Hb%&A8"3'*'"%)-&H3-H&.6"["3H6-H&.6*%/-%"X%/"H/."I%J%*'/W."

:.-&(.&3.6C"+%5(/(+.":'&"%6"I%3I'"+%")%&"*"+),-$(-"d"%/"'-&.)":.6.F&.)K")(/"(*:'&-.&"]H%")%"

)%."%/"&%.6(+.+"*.+&%"'"%):').K"6."3'/+(3(E/"+%"J1/%&'"+%"6.)"*Hb%&%)"%)-a"+%5(/(+.":'&"6."

*.-%&/(+.+" [" 6." 3'/[HJ.6(+.+K" )(%/+'"1)-.)" 5'&*.)"+%" )'3(.6(G.3(E/" [" 5H/3('/%)" &%.6%)" ["

)(*FE6(3.)" ]H%" )%" 3H*:6%/" %/" 6." &%6.3(E/" 3'/" '-&')" ^)Hb%-')" )H)-(-H-(L')_" '" F(%/" %/"

^(/)-(-H3('/%)".5(/%)_!",/")H)":.6.F&.)4"

B<"Y"5(/.6%)"+%"6')"78"[":&(/3(:(')"+%"6')"?8K"*%/3('/.K"^6."3&W-(3.".6":.-&(.&3.+'")%"&%.6(GE".":.&-(&"+%6"

3H%)-('/.*(%/-'"+%"6."*.-%&/(+.+"Ñ3'/)(+%&./+'"1)-.Ö"3'*'"H/"I%3I'"]H%")%"+%&(L."+%"6."&%:&'+H33(E/K"[" :'&" 6'" -./-'" 3'*'"H/"%L%/-'"H/(L%&).6" 3'/" 3.&.3-%&W)-(3.)" (/*H-.F6%)!_" XVa/3I%GK" =88@4" #BC" Va/3I%G"z&(/J.)"3H%)-('/."]H%"%)-.)"3&W-(3.)".6":.-&(.&3.+'"5H)('/./"3.-%J'&W.)"I%*F&.9*Hb%&9*.+&%95%*%/(/'"["+%b./"5H%&."+%6"./a6()()"6."I%-%&'J%/%(+.+"+%"6')"+()-(/-')".):%3-')"]H%"(/-%&L(%/%/"%/"%6"%b%&3(3('"+%"6."*.-%&/(+.+!""

"A8 ,)"3H%)-('/.F6%"-.*F(1/"%)-."5'&*."*'/'6W-(3."["J%/%&.6(G.+."+%"I.F6.&"+%"6."*Hb%&K":%&'"%/-(%/+'""]H%"

)%"&%5(%&%"*a)"."H/"6HJ.&")(*FE6(3'"%)-&H3-H&.6"]H%"'3H:."%/"6.")'3(%+.+K"6."*Hb%&"3'*'"6HJ.&")(*FE6(3'.

111

"

!"# 8"&,4()W"# ]5,# "6")8"# ,%# A,8A(# 4%(6"%# 8(0-&.&5&.7(# +,# %"# 8(0+.8./0# +,# %"# *5D,)# ,0# %"#

-(8.,+"+#C#%"#85%&5)"#,-#*"+),-$(-"2#90#,%#*50+(#$"&).")8"%#-,#,-$,8."%.="#"#%"-#*5D,),-#,0#

%"#*"&,)0.+"+>#,0# %"# ),$)(+588./0#+,# %"# -(8.,+"+# t222u# -/%(#,<.-&,0#*"&,)0"%*,0&,?# C# -/%(#

$5,+,0# ),"%.=")# -5# ,<.-&,08."#*"&,)0"%# "#$")&.)# +,# -5# ,-$,8."%.="8./0#$(%W&.8"# 8(*(#,0&,-#

.0',).().="+(-# ,0# %"# ($),-./0?# +,$,0+.,0&,-# 7.&"%,-# C# -,)7.+()"-# 7(%50&")."-# +,# ]5.,0,-#

),"%.="0#,%#+(*.0.(#C#+.).4,0#%"#-(8.,+"+2#t222u#%"#*"&,)0.+"+#C#%"#8(0C54"%.+"+?#-(0#%(-#,D,-#

-(8.(85%&5)"%,-# C# $(%W&.8(-# ]5,# +,'.0,0# %"# 8(0+.8./0# 4,0;).8"# +,# %"-# *5D,),-p# +,# "AW# ]5,#

&(+"-#%"-#*5D,),-#-(0#*"+),-$(-"-2#XD.J.&+%K"#<<84"@7AC#"#

D." 5H/3(E/"+%"%)-."*"+),-$(-"" )%&W.K"+%)+%"%)-.":%&):%3-(L.K" &%:&'+H3(&"*.-%&(.6" X%/")H"

3H%&:'C"[")HFb%-(L.*%/-%".6")%&"IH*./'K"IH*./(G.&6'"^%/")H":&':(."3H6-H&.K"%/")H"1:'3.K"

+%".3H%&+'"3'/")H"J1/%&'K"3'/")H"36.)%K"J&H:'"["-&.+(3('/%)!_"XD.J.&+%K"#<<84"@77C"

P%6.3('/.+'"3'/"%)-%"&'6"+%"*"+),-$(-"K"D.J.&+%".5(&*."]H%" 6."*Hb%&K"%/"%)-%"3'/-%2-'"

+%" )'3(%+.+%)" " :.-&(.&3.6%)K" %)" 3'/)-&H(+." 9)'3(.6" [" 3H6-H&.6*%/-%9" 3'*'" )Hb%-'" )E6'" ."

:.&-(&" +%" 6." %2()-%/3(." +%" H/" '-&'K" [" %)" :'&" %)-." &.GE/" ]H%" " ^6." *Hb%&" L.6'&." *a)" 6."

%2()-%/3(." +%6"(&)(#]H%" 6." :&':(.K" :'&]H%" )E6'" )H" &%3'/'3(*(%/-'" 6%" +." %2()-%/3(." ." %66."

*()*.!_" XD.J.&+%K" #<<84" @7?9@7;C" 0%/3('/." 9+%" H/." 5'&*." H/" -./-'" &.+(3.69" ]H%" 6.)"

*Hb%&%)K" +%/-&'" +%" %)-." %)-&H3-H&." )'3(%-.6K" :.&." %2()-(&K" +%F%/" )%&" %):').)!" " ^D."*Hb%&"

)'6."%)"(*.J(/.+."3'*'"6."*Hb%&"3.&%/-%K"6%"5.6-.".6J'K"6%"5.6-."%6"+.+'&"+%"6."L(+.")'3(.6K"6%"

5.6-."%6"I'*F&%_!",)"%)-%"*./+.-'"3H6-H&.6""+%"^3.).&)%"["-%/%&"I(b')_"]H%"I.":%&*%.+'"%/"

3'/-%2-')" +%" )'3(%+.+%)" 66.*.+.)" -&.+(3('/.6%)K" 3'*'" 3(%&-.*%/-%" 6'" )'/" 6')" 3'/-%2-')"

&H&.6%)"+%"012(3'"+%"+'/+%"%)-.)"*Hb%&%)"%/-&%L()-.+.)":&'L(%/%/!"

,/" %)-&H3-H&.)" +%" :'+%&" +%" 3'&-%" :.-&(.&3.6" X3'*'" 6." /H%)-&.CK" ^6')" :.:%6%)" +%"

*.+&%"["%):')."I./")(+'"[".c/")'/" 6')" 6HJ.&%)"]H%")%" 6%".)(J/./":&('&(-.&(.*%/-%_"." 6.)"

*Hb%&%)" XT.6L%(&'K" =88A4" #@9#BC" Y+%*a)" +%" %)-%" :.:%6" .)(J/.+'" X[" &%6.3('/.+'" 3'/" 16CK"

TI./+&."0'I./-["I.F6."+%6"L.6'&"]H%")'3(.6*%/-%")%"6%"+."."6."*.-%&/(+.+!"0%/3('/."]H%"

^%6"I%3I'"+%"]H%"6.)"*Hb%&%)")%./"*.+&%)"%/"H/.")'3(%+.+"%):%3W5(3."/'"%)"-./"&%6%L./-%"

3'*'"%6"L.6'&"]H%")%".-&(FH[%"."6."*.-%&/(+.+"%/"%).")'3(%+.+!"D."+()-(/3(E/"%/-&%"%6".3-'"

+%" )%&"*.+&%" [" %6" %)-.-H)" .6" ]H%" )%" 6%" .)'3(." %)"*H[" (*:'&-./-%4" %)"H/."+()-(/3(E/"]H%"

+%F%"%/H/3(.&)%"["./.6(G.&)%"+%"5'&*."3'/-%2-H.6!_"X0'I./-[K"=88@4"#@BC",)-'"-(%/%"]H%"

L%&"3'/"6'"]H%"Va/3I%G"z&(/J.)"*%/3('/.F."&%):%3-'"."6."&%6.3(E/"]H%"%2()-%"%/-&%"%6"6HJ.&"

]H%")%"6%"+."."6."*.-%&/(+.+"%/"6.)")'3(%+.+%)"["6')":&'3%)')"I()-E&(3')K".)W"3'*'"6."]H%"

112

%2()-%" %/-&%" 6." 3'/)-&H33(E/" )HFb%-(L." %" (/+(L(+H.6" +%" 6." *.-%&/(+.+" 3'/" 6.)" &%6.3('/%)"

)'3(.6%)"["6.)"%6.F'&.3('/%)"3H6-H&.6%)!"XVa/3I%GK"=88@C!" ""

i'+&W."+%3(&)%K"%/"%6" 3.)'"+%" 6.)"+')"*.+&%)"\"R'`."Y3%6."["R'`."P%[/.9K" 3'*'"

F(%/"[.")%"I."L%/(+'"*%/3('/./+'K"]H%"1)-.)"5H%&'/"%+H3.+.)"F.b'"%6"*./+.-'"(/)3&(-'"+%"

6."&%.6(G.3(E/"+%"6."*Hb%&K""#$,-")"+%")H)".):(&.3('/%)"(/+(L(+H.6%)"+%"'-&."W/+'6%K"%/"-./-'"

)%"%)"*.+&%"["%):').!"i&%3().*%/-%"%6""#$,-")#+,#-W"%)"H/'"+%"6')":(6.&%)"[")H)-%/-')"+%"

%)-%")%&"]H%"+%F%")%&"["+%6"]H%")%"%):%&."]H%")%.!""

"

T'*'"+(3%/"z.).J6(."["D.J.&+%K"6."*Hb%&K"*"+),-$(-"K"%)"+,#["$")"#6')"(&)(-2#,/"%66.)K"^.6"

I.F(-.&" 6." 3'/+(3(E/" +%"*.+&%):').K" )%" 6%J(-(*.F." Ñ!!!Ö" )H" ).6(+." +%6" )%/'" +%" 6." 5.*(6(."

:.-%&/.M*.-%&/.K" -&./)5(&(%/+'" %6" %b%&3(3('" +%" .H-'&(+.+" +%6" :.+&%" .6" *.&(+'" ["

3'/L.6(+./+'".")H"L%G" 6." (+%/-(+.+" 5%*%/(/.K"*()*."]H%")%Jc/" 6."3'/)-&H33(E/"J%/1&(3."

-&.+(3('/.6K")E6'"&%.6(G."":6%/.*%/-%"+%)+%"6."3'/+(3(E/"+%"*.+&%):').!"Ñ!!!Ö"D.)"*.+&%)"+%"

%2-&.33(E/"3.*:%)(/."J%/%&.6*%/-%".)H*W./" 6.")%6%33(E/"*.-&(*'/(.6"3'*'"H/"%b%&3(3('"

*a)"+%"'F%+(%/3(."9:&a3-(3."(/(3(.+."%/"6."5.*(6(.":.-%&/."["I%&%+.+.".6"*.&(+'9!_"X0.(%&K"

=88#4"#B?C"

"

C$D"!&S>#\(?#$5,-#C"#t222u#85"0+(#C(#&,0W"#+.,8.-.,&,#"J(-?#C"#*,#$.+./#,%#*").+(?#*,#8"-;?#C#t222u#C"#&57,#"#

*.-#A.D(-2#

!>#Px#8/*(#8(0(8./#"#-5#,-$(-(T#PL/*(#'5,#,-(T#

S>#V5,-#8(*(#-(*(-#+,%#*.-*(#$5,6%(?#t222u#C#"AW#"A()"#-W#]5,222#$5,-#0(-#8(0(8W"0#C#-,#")),4%"6"2#

V,)(# %(# &)"6"D(-(# ,)"# ]5,# 50(# 0(# -,# ")),4%"6"# 8(0# ,%%(-?# -.0(222# %(-# $"$Y-?# 'WD,-,2#\"+"#*Y-# 0(-#

$,+W"0# -5-#$"$Y-#+,#,%%(-#(#(&)"#$,)-(0"?# C# %(-#$"$Y-#$(0W"0#,%#+W"#]5,#50(# -,# 8"-"222# bW?#0(?# C(#

A"-&"#*,#+"#8()"D,?#+.4(?#$()]5,222#

tR%#$),450&")%,#-(6),#,%#).&5"%#$")"#$,+.)#%"#*"0(>u#

S>#H_,0.*(-#"#$,+.)#$,)*.-(#$")"222#]5,),*(-#$%"&.8")?#]5,#0(-#*"0+/#U5%"0(#+,#&"%?#]5,#7"*(-#"#

$,+.)#"]5W#"#-5#A.D"?#C#]5,#-,#7"0#"#8"-")222K2#x#8A.-&(-(?#$()]5,#%,#$(0W"0#]5.08,#+W"-?#(8A(#+W"-2#bW#

0(-#8(07,0W"?#%,#+,8W"0#]5,#-W222(#7,0W"#(&)"#7,=#%"#$,)-(0"?#C#%,#),-(%7W"0#C#%,#+,8W"0#]5,#0(222#R-W#

,)"#t222u# %"#&)"+.8./0#+,#"0&,-2t1u#V5,-222#*,#$.+./#50"#$,)-(0"?#*,#$.+./#(&)"222#t222u#x#+,-$5;-#0(-#

"0.*"6"0># HMLY-"&,OK?#(# HM_,?#$.;0-"%(OK2#x#$5,-#C"#50(#-,#"0.*"6"2#x# -,#")),4%"6"0#,0&),#,%%(-#

]5;#+W"#C#]5;#7"0#"#A"8,)#+,#8(*.+"?#C#]5;#7"0#"#A"8,)#%"#'.,-&"222#t222u#

#

"

113

,6"3.)'"+%"R'`."Y3%6."%)":.&-(3H6.&!"Y6")%&")H"*.+&%"L(H+."["I.F%&"*(J&.+'")'6."."6."3(H+.+"

X+'/+%" :&a3-(3.*%/-%" -'+')" )H)" I(b')" 3&%3(%&'/C" 3.*F(./" .6JH/')" +%" 6')" &(-H.6%)" +%"

^3'&-%b'_"-&.+(3('/.6%)!"Yc/".)W")%")(JH%/":.-&'/%)"3H6-H&.6%)"+%"-(:'"*a)"-&.+(3('/.6!"""

#

R8,%">#x(#"#%(-#Fe#"J(-#,*$,8;#"#&)"6"D")#,0#b5*,-"2#RAW#'5.#,*$%,"+"#+,#b5*,-"2#x#C"#+,#

"AW#-"%W#$")"222#$")"#8"-")*,2#R#%(-#Fe#"J(-#C(#*,#8"-;2#

t222u#x"#+,#"AW#C"#8"*6."#50(222#

t222u#-,#*,#*,&./#%"#%(85)"#+,#8"-")*,?#C#C"2#t).-"-u#XY3%6.K"=8#8C""

V("F(%/"%/"%6"3'/-%2-'"+%"Y(3%6."-.*F(1/"%2()-(E"^6.":&%)(E/"+%"6.)"3')-H*F&%)_"%/"3H./-'"."

6'"]H%".6"*.-&(*'/('"["6."L(+."+%":.&%b.")%"&%5(%&%A#K"%66.K".6").6(&)%"+%")H"3.)."+%)+%"b'L%/"

["L(L(&"%/"3.).)"+%"%)-H+(./-%)K"%)3.:."+%"%)-%"*./+.-'!"VH")(-H.3(E/"%)"*H["+()-(/-.4"%66."

+%3(+(E"L(L(&"%/"H/(E/"6(F&%"3'/"%6"]H%"5H%"+H&./-%"*H3I'"-(%*:'"H/"3'*:.`%&'"[".*(J'"["

]H%"%)"I'["%/"+W.")H"3'*:.`%&'"+%"L(+.K"":&'5%)(E/K"-&.F.b'K"(+%.6%)"%"(/-%&%)%)4"

&

A+($5!>&

x#65,0(?#05,-&)"#),%"8./0?#%"#+,#a5"0#a(-;?t1u#85"0+(#-,#.0.8."?#,-#50"#),%"8./0#"-W#8(*(#]5,#*5C#

)Y$.+"2#90&(08,-#0(-(&)(-#8"-.#0(#&57.*(-#50"#,&"$"#+,#0(7."=4(2#\(#'5,#"-W?#8(*(#(&)"-#$"),D"-?#

]5,#-(0#0(7.(-?#"]5W#C#"%%Y222#\(?# %"#+,#0(-(&)(-#'5,#"-W# B8A"-]5.+(3?#)Y$.+(2#x(?# %"#7,)+"+?#,0#,-,#

*(*,0&(#,)"#8(*(#*Y-222#0(#-,)W"#50"#),%"8./0# &"0# )Y$.+"2#\.#"8"6"6"#+,#-"%.)#+,# %"#(&)"?#P0(T#

V,)(# -,# '5,# +"0+(# %"# ),%"8./0# 8(*(# "# %(-# +(-#*,-,-# +,# ,-&"6%,8,)# %"# ),%"8./0# ,0&),# ;%# C# C(?# C"#

7.7W"*(-#D50&(-2#t9-(#'5,#,0#,%#ifu2##

!>#x#&,0W"0#*58A(#&.,*$(#&"*6.,|#+,#8(0(8,)-,?#P0(T#

R>#x(#8),(#]5,#-W#'5,#,-(?#P0(T#V5,-#-W?#C(#%(#8(0(8W"#"#;%#*5C#6.,0?#C#;%#"#*W#8),(#]5,#&"*6.;02#V5,-#

),"%*,0&,?# +,-+,# ]5,# C(# %(# 8(0(8W# ,0# ,%# gF?# A"-&"# ,%# if?# "0+57.*(-# +.").(# D50&(-2# I.").(?# +.4(?#

$()]5,# $5,-# C(# *,# -,$")"6"# ,%# '.0# +,# -,*"0"# "# 7,8,-?# C# ;%# -,# .6"# "# -5# 8"-"2# R# %"# 8"-"# +,#

,-&5+."0&,-2# !%,4Y6"*(-?# 8(*,0&Y6"*(-# ]5;# -,# 7"# "# A"8,)?# ]5,# ,-&(?# ]5,# ,%# (&)(222# q# -,"?# 0(-#

8(0(8W"*(-# 0(# -/%(# ,0# ,%# "-$,8&(# $,)-(0"%2# L),(# ]5,# +(0+,# *Y-# 0(-# 8(0(8W"*(-# ,)"# ,0# ,%#

,*(8.(0"%#

#

D.)"3'/3%:3('/%)"+%"*.-&(*'/('"[":.&%b."+%"Y3%6."["P%[/.")'/"*H["+()-(/-.)"]H%"6.)"+%"

Y(3%6.!"R(J.*')"]H%K")(")%"-'*./"%/"3H%/-."6')"*.&3')"3'/3%:-H.6%)"+%"&%:&%)%/-.3('/%)"

3H6-H&.6%)" +%" J1/%&'" ]H%" )%" I./" (+%/-(5(3.+'" %/" %)-H+(')" )'3(.6%)K" %6" &)"+.8.(0"%# [" %6"

*(+,)0(K" %/-&.&W./" 6')" :&(*%&')" +')" 3.)')" .6" &)"+.8.(0"%!" D." &%6.3(E/" +%" Y(3%6." 3'/" )H"

A# T.F%"*%/3('/.&"]H%"")H":.+&%")%"+()-./3(E"["/H/3.":%&+'/E"."H/."+%")H)"I(b.)":'&"%6"I%3I'"+%"I.F%&)%"

(+'"."L(L(&"3'/"H/"I'*F&%")(/"3.).&)%!"Y"-.6"J&.+'"%)"6."+()-./3(.K"]H%"6."I%&*./."%/5%&*."+%"J&.L%+.+K"."&.WG"+%":&'F6%*.)"3'/"H/"%*F.&.G'"\+%")%:-(3%*(.9K"["6."5.*(6(.")%"66%J."."%/-%&.&"["6."L."."L%&"I.)-."]H%"[."%)-a"%/"6."c6-(*."5.)%"+%"6."%/5%&*%+.+"["*H%&%!

114

:.&%b.K" *a)" I'&(G'/-.6K" (JH.6(-.&(.K" +%" 3'*:.`%&')K" %/-&.&W." *a)" ." H/" %)]H%*."

*(+,)0(w5)6"0(oE4"

"

90#R*;).8"#!"&.0"#,<.-&,0#,-&5+.(-#]5,#A"0#,<$%()"+(#%(-#8"*6.(-#,0#%"#*"&,)0.+"+?#%"#-,<5"%.+"+#

C#%"#),%"8./0#,0&),#A(*6),-#C#*5D,),-#"#$")&.)#+,#50#,-]5,*"#]5,#7"#+,#%(#&)"+.8.(0"%#"#%(#*(+,)0(#

t1u# b,# A"0# .+,0&.'.8"+(# +(-#*")8(-# 8(08,$&5"%,-# +,# ),$),-,0&"8.(0,-# 85%&5)"%,-# +,# 4;0,)(># 50(#

]5,# 8()),-$(0+,# "# %"# 8(08,$8./0# &)"+.8.(0"%# +,# %"# ),%"8./0# A(*6),w*5D,)# ,0# %"# $)(8),"8./0?# %"#

8)."0="?# %"# '"*.%."#C# %"#$"),D"p# C#(&)(#]5,# .*$%.8"# %"#*(+.'.8"8./0#+,# %"-#"0&.45"-# 8(08,$8.(0,-#"#

'"7()#+,#50"#.+,"#*(+,)0"w5)6"0"#+,#'"*.%."#B$(8"#+,-8,0+,08."3?#*"&,)0.+"+#B85C(#(6D,&.7(#,-#,%#

+,-"))(%%(#/$&.*(?#"',8&.7(#,#.0&,%,8&5"%#+,#%(-#A.D(-#C#%"-#A.D"-3#C#$"),D"#B*Y-#.45"%.&")."32#XVa/3I%GK"=88@4"#7C""Y":.&-(&"+%"%)-H+(')"&%.6(G.+')"%/"Y*1&(3."D.-(/."%/"-'&/'"."6."*.-%&/(+.+K")%"I.")%`.6.+'"

]H%" ^%2()-%" H/." 3'&&%):'/+%/3(." %/-&%" 6.)" :&a3-(3.)" -&.+(3('/.6%)" X+(L()(E/" )%2H.6" +%6"

-&.F.b'K"&'6%)".6"(/-%&('&"+%"6."5.*(6(."["%)-&H3-H&."+%".H-'&(+.+C"["6.)"&%:&%)%/-.3('/%)"+%"

6.)"&%6.3('/%)"X-&.+(3('/.6%)C"%/-&%"6')"J1/%&')"%/"6.)"J%/%&.3('/%)"+%"*Hb%&%)"["I'*F&%)"

3'/)(+%&.+')" *.['&%)!_" XVa/3I%GK" =88@4" #?C!" ,/" a*F(-')" &H&.6%)" *%2(3./')K" Z'/Ga6%G"

X#<<BC" [" h.J%--(" X#<<AC" 3'/36H[%&'/" ]H%" ^%/-&%" *Hb%&%)" *.['&%)" +%" @8" .`')" 6."

*.-%&/(+.+" %&." *H[" .:&%3(.+." [" 3'/)-(-HW." %6" /c36%'" +%" 6." (+%/-(+.+" 5%*%/(/.d" )H)"

)(J/(5(3.+')")%"3'/)-&HW./"."-&.L1)"+%"6')"L.6'&%)"+%").3&(5(3('K"+'6'&K".F/%J.3(E/"["%/-&%J.!"

R%)+%" " 6')"+()3H&)')"+%"%)-.)"+')"*Hb%&%)" XP%[/." ["Y3%6.C" )W" :H%+%/" (+%/-(5(3.&)%"%)-')"

c6-(*')".):%3-')"[".-&(FH-')"3'*'"L.6'&%)"."6')"]H%")%".6H+%"%/"L.&(')"*'*%/-')!#

h.J%--(" 'F)%&LE" ]H%" 6')" )(J/(5(3.+')" -&.+(3('/.6%)" 3'&&%):'/+W./" ." H/" :.-&E/"

&%:&'+H3-(L'" 3.&.3-%&(G.+'" :'&" %*F.&.G')" 3'/)%3H-(L')" ." 6'" 6.&J'" +%" 6." L(+." +%" 6.)"

*Hb%&%)!_" XVa/3I%GK" =88@4" #?C" $./-'" Y3%6." 3'*'" P%[/." 5H%&'/" *.+&%)" bEL%/%)!" ,/"

:.6.F&.)"+%"0.(%&K" ^6."*.-%&/(+.+" )%" .+H%`E"+%" )H)" L(+.)" [" 3H%&:')"."H/."%+.+" b'L%/K"

Ñ.6&%+%+'&"+%"6')"#;"%/".*F')"3.)')Ö"3'*'"H/."-.H-'6EJ(3."&%3'/5(&*.3(E/"+%6"*./+.-'"

+()-(/-(L'"+%")H" (+%/-(+.+"["%2()-%/3(.!"TH6-H&.6*%/-%"*'6+%.+'K"%6"*./+.-'"*.-%&/'")%"

3'/)-(-H[%" %/" %6" (*.J(/.&('" 3'6%3-(L'" ." :.&-(&" +%" 6'" (/)-(/-(L'" +%" )H" )(*F'6(G.3(E/K"

A=" T'*'" 3&W-(3." ." H/." :')-H&." *'+%&/()-.M-&.+(3('/.6" +%6" ^'&+%/" :.-&(.&3.6_K" T.6L%(&'" .5(&*." ]H%" ^6."

*'+%&/(G.3(E/"+%"6.)"&%6.3('/%)"+%"J1/%&'"66%L.&W."."%)-.F6%3%&"H/."*.['&")(*%-&W.K" 6'"]H%"&%)H6-."*a)"]H%" +H+')'" )(" )%" 'F)%&L./" 6.)" &%6.3('/%)" +%" :'+%&" %/-&%" I'*F&%)" [" *Hb%&%)" %/" 6.)" )'3(%+.+%)"3'/)(+%&.+.)"*'+%&/.)!_"XT.6L%(&'K"=88A4"#?C"

115

&%:&%)%/-a/+')%")'3(.6*%/-%"3'*'"6.":&(/3(:.6"*()(E/"5%*%/(/.K")H"L'3.3(E/K")H"+%)-(/'K"

6."%)%/3(."*()*."+%")H".3&%+(-.3(E/"%2()-%/3(.6!_"X0.(%&K"=88#4"#A#C"V%"3H*:6%"%/"%66.)"6."

(+%."+%"*Hb%&K"+%"^*.+&%):')._K"3'*'"H/"85,)$([$")"[(&)(!" "S/"3H%&:'"]H%"&%:&%)%/-."

H/" %):.3('" +():H%)-'" ." 3.&J.&" .6" '-&'!" ^D."*Hb%&" 3.&J." %6" 3H%&:'" +%" 6')" '-&')" +%)+%" )H"

5'&*.3(E/K"I.)-.")H"*H%&-%K"6'"3H(+.K"6'".6(*%/-.K"6'":H&(5(3.K"3'/")H":&':('"3H%&:'!"Ñ!!!Ö"D."

L(+."+%"*H3I.)"*Hb%&%)")%"+%)%/LH%6L%"%/"H/"3H%&:'"^3.&J.+'_K":'&"+%/-&'"'":'&"5H%&.K"

+H&./-%"*H3I')".`')!"m.["*Hb%&%)K")'F&%"-'+'"3.*:%)(/.)K":%&'"-.*F(1/"3(-.+(/.)K"]H%"

)(%*:&%"%)-a/"%*F.&.G.+.)K"'".3.F./+'"+%":.&(&!"D."L(L%/3(."3'&:'&.6"+%" 6."*.-%&/(+.+"

'3H:."6."*.['&":.&-%"+%")H"L(+."%/"H/"3(36'"]H%")%"3'/5'&*.4"""

" %*F.&.G'9:.&-'96.3-./3(.9%*F.&.G'9:.&-'96.3-./3(.9!!!3.&J."" %*F.&.G'9.F'&-'9%*F.&.G'9:.&-'96.3-./3(.!!!_"XD.J.&+%K"#<<84"=;@C"&C$D"!>&x(#*,#,*6")"="6"#*Y-#(#*,0(-# 8"+"#+(-#"J(-?#$5,-?#0(# 8(0# &"0&"# '),85,08."# 8(*(#8"+"#"J(?#

$,)(#$5,-#-W?#7,0W"0#%(-#A.D(-2#9)"#$()#%,C#]5,#50(#.6"#"#&,0,)#%(-#A.D(-#]5,#7.0.,)"0?#$()]5,#-.#0(?#

$5,-?#$,0-"6"0#]5,#50(#"0+"6"#A"8.,0+(#"%4(#$)(A.6.+(2#\(#,-&"6"#$,)*.&.+(#5-")#0"+"?#0.#]5.,0#

0(-#().,0&")"2# V),450&"6"#50(?# $,)(# -.,*$),# %,# ),-$(0+W"0# %(#*.-*(># h&.,0,-#]5,# &,0,)# %(-# A.D(-#

]5,#7,04"02#L5"0+(#C"#0(#7"-#"#&,0,)?#$5,-?#C"#0(#7"-#"#&,0,)2#V,)(#0(#A"C#0.0450"#*"0,)"#+,#

]5,#C"#0(2"XR'`."P%[/.K"%/"%)%"%/-'/3%)"7?".`')K"%/"%/-&%L()-.K"%/"0.(%&K"=88#4"#A#C"!>#PQ5;#,+"+#&,0W"#85"0+(#&57(#-5-#A.D(-T#

S>#V5,-#C"#&,0W"#8(*(#*.-#+.,8.(8A(?#*.-#+.,8.05,7,#"J(-2#t222u#x#"-W?#8"+"#+(-#"J(-?#&),-#"J(-#C#"-W2##

!>#Px#"#]5;#,+"+#&57(#5-&,+#"#-5#X%&.*(#A.D(T#

S># x(# 8),(# ]5,# "# ,-&"# !5%X# 8(*(# "# %(-# 85"),0&"# "J(-2# t222u# \(?# 0(# +,8W"0# ]5,# $")"# $),7,0.)#

,*6")"=(-?#0(?#0"+"#+,#,-(2#9*$,="6"0#"#A"6%")?#$,)(#50(#0(2#t222u#x"#0(#*,#&(8/2#t222u#^0"#A.D"?#%"#

]5,#,-#*",-&)"?#0"8./#,0#%"#R%"*,+"2#q&)"-#,0#,%#A(-$.&"%#+,#%"#*5D,)2#XP%[/.K"=8#8C""A($5!>&R>#tI,-$5;-#+,#8"-")-,>u#V5,-222#,*$,=")#8(0#%(-#A.D(-?#P0(T#V()]5,#$)(0&(#C"#,*$,=")(0#"#%%,4")#

,%%(-2#l-"#,-#(&)"#7.7,08."2#t1u#"%#"J(#C"#&,0W"*(-#+(-2#t1u#d,*,%(-2#

!>#Px#85Y0+(#%%,4")(0#%(-#+,*Y-#A.D(-T#

R>#V5,-#"%#"J(#C#*,+.(2#t222u#\(#A"6W"#8(0&)(%?#0(#A"6W"#0"+"2#RA()"#-W#]5,#A"-&"#]5,#0(#,-&"6"#C(#

,*6")"="+"222#

!>#Px#%%,4/#50#*(*,0&(#,0#,%#]5,#5-&,+#+.D(#H0(?#C"#0(K222T#

R>#\(?#A"-&"#]5,#+,D;#+,222#\(?#0(#*,#A.8,#0"+"2#\508"#*,#A.8,#0"+"2#x#$5,-#"AW#,-&Y0#&(+(-222#

!>#I(8,?#,0&(08,-?#'5,)(02##

"

,/"Y(3%6.K"3'*'"[.")%"*%/3('/EK"/H/3.":H+'"-%/%&"I(b')!"|"%)"H/."+%"6.)"3H%)-('/%)"]H%"6."

*.&3.&'/!" N/-%/-E" +H&./-%" L.&(')" .`')" -&.-.*(%/-')" +%"*H3I')" -(:')" ]H%" (*:6(3.&'/" .6"

5(/.6"H/"5H%&-%"+%)J.)-%"-./-'"%3'/E*(3'"3'*'K")'F&%"-'+'K"%*'3('/.6!"

116

"

z.).J6(." +%5(/%" ." 6."*Hb%&" 3'*'" %$0d,$d)#0)%K" J(&./+'" )H" 3'/+(3(E/"':&%)(L." %/" -'&/'" ."

-&%)" %b%)4" 6."*Hb%&" 3'*'"/.-H&.6%G.K" 3'*'" 3H%&:'9:.&.9'-&')" [" 3'*'"*.+&%9)(/"*.+&%!"

XD.J.&+%K"#<<8C"m.F6."+%" "H/"/c36%'")E6(+'"[":')(-(L'"]H%"%)"-&./)*(-(+'":'&" 6."*.+&%"["

]H%" :%&*(-%" ." 6."*Hb%&" 3'/)-(-H(&)%" 3'*'" -.6K" [" ]H%" -%/+&a" -.*F(1/" )H" 3.&J." ':&%)(L."

3'&&%):'/+(%/-%!" R')" +%" %)-.)" 3.&J.)" )'/" " ^6." %236H)(L(+.+" +%" 6." *.+&%" %/" Ñ-5-Ö"

*%/%)-%&%)K"%)"+%3(&K")H"3.&a3-%&"J%/1&(3'"5%*%/(/'"["*.-%&/'_"[""6."^(*:')(F(6(+.+"+%")H"

(/-%&3.*F(.(6(+.+" J%/1&(3._" " XD.J.&+%K" #<<84" B@@C!" P%):%3-'" ." %66'" :'+%*')"*%/3('/.&"

-'+." 6." 3.&J." [" 6.)" 'F6(J.3('/%)" (//%J'3(.F6%)" [" :'3'" +%6%J.F6%)" ]H%" &%3.%/" -./-'" %/"

P%[/."3'*'"%/"Y3%6."+%)+%":%]H%`.)"[K")'F&%"-'+'K"H/."L%G"3.).+.)!""

"2)3!&C$D"!>&S>#V()#,D,*$%(?#C(#*,#"%.7.;#"]5W#+,#*.-#A.D(-#8(0#%"#$")&,)"#+,#"%%Y#+,%#)"08A(2#t222u#x#C"#85"0+(#0(-#

"%.7.Y6"*(-#A"6W"# &,*"=8"%222# t222u# x#$5,-# 85Y%# 85"),0&,0"2# t222u#RAW# ,0# &),-?# 85"&)(?#(8A(#+W"-?# C"#

"0+Y6"*(-#A"8.,0+(#,%#]5,A"8,)2#x#6"JY0+(-,#8(0#,%#&,*"=8"%?#$,)(#8"%.,0&,2#t222u##

!>#90&(08,-#]5;#85"),0&"222#,0#+.,=#+W"-#C"#,-&"6"#&)"6"D"0+(222#

S>#x#*(%.,0+(?#C#A"8.,0+(#$"h#%(-#8A.]5.%%(-#$()#"%%Y?#C#%"7Y0+(%,-#C#8(-.;0+(%,-?#65,0(?#65,0(222#+,#

&(+(2#t1u#tI,#),8.;0#8"-"+">u#V5,-#,)"222#+,#$).08.$.(#&(+(#,)"#6.,0?#$,)(#$5,-#t1u#C"#8(0#%(-#A.D(-?#

$5,-#,-&")#"&)"-"+(-#$")"#7,)-&.)%(-?#$")"#8"%=")%(-#t1u222#8(*$)")%,-#50#$"0&"%(08.&(#(#8(*$)")%,-#

%"# )($.&"# (#*"0+")%"-# "# A"8,)2# V5,-# C"# -,# %"-# 7,W"# 50(?# 0(# -,# 8),"2# bW?#*Y-# 8(*$%.8"+"# %"# 8(-"2#

XP%[/.K"=8#8C""Y3%6."&%3(F(EK")'F&%"-'+'".6":&(/3(:('K".[H+."+%")H"*.+&%"["H/."I%&*./."X)(JH%")(/"I.F%&"

(/-%&3.*F(.F(6(+.+"J%/1&(3.CK"[":'3'".:'['"+%")H"%):')'K":'&]H%"1)-%"-&.F.b.F."-.*F(1/4"

"

R>#V5,-#-W#6"&"%%;#C#0(?#$()]5,?#8(*(#,-&"6"0#&"0#8,)8"#*.#*"*Y#C#*.-#A,)*"0(-222#t1u#x#,%%"#t-5#

A,)*"0"u#*,# %(-#8"*6."6"?#*,# %(-#85.+"6"2#q#85"0+(222#*.,0&)"-#C(# %,#+"6"#+,#8(*,)#"#50(?# %"#

(&)"#*,#8")4"6"#"%#(&)(2#:,#"C5+"6"#"#%"7")#$"J"%,-?#$()]5,#"0&,-#0(#A"6W"#+,-,8A"6%,-222#

t1u#

!>#t222u#90&(08,-#-5#,-$(-(#-,45W"#&)"6"D"0+(2#t222u#Px#;%#%,#$(+W"#"C5+")#"#7,8,-#8(0#%(-#0.J(-T#

R># 90# %"# 0(8A,2# H:.,0&)"-# &X# 85.+"-# 50(?# C(# 85.+(# "%# (&)(K2# t222u# \(# A"6W"# 6(&,%%"-?# 0.# 0"+"2# t222u#

!5,4(# "%# "J(# +(-# *,-,-# %%,4/# @.%+"2# t222u# R-W# ,-# ]5,# -,# *,# D50&")(0# &),-# 8A.]5.&(-2# t222u# :,#

"8(-&5*6);#"#8")4")%(-#"#%(-#+(-2#t222u#b,#8"*6./#,0#,-,#&.,*$(#*.#*"*Y#t222u?#"#,-$"%+"-#+,%#*,&)(#

c(%"2#x#%5,4(#.6"#"#7,)%"?#C#0(*Y-#%(-#"*"))"6"#6.,0?#%(-#,0),+"6"?#t222u#C#*,#.6"#8"*.0"0+(#$")"#

"%%Y2#x#$"-"6"#"AW#,%# &),0#]5,# .6"#"#c(8A.*.%8(2# t222u#V5,-#-W#,-&Y#),&.)"+.&(2#V,)(#$5,-#,-&"6"#50(#

D(7,02#t1u#C"#,-&"6"0#*Y-#4)"0+,8.&(-2#x"#&,0W"0#-5-#850"-?#C"#0(#,)"#&"0&(#,%#&)"6"D(2#t1u#x"#"AW#

+,D;#+,# .)#"# %%,7")%,# %"#8(*.+"#t"#-5#,-$(-(u2#x"#-,# %%,7"6"#;%#-5#8(*.+"2#\(?#C"#,)"#+.'W8.%222# &,0,)#

]5,# 8")4")#"# %(-#+(-# C# %5,4(# %"# 8"0"-&"222# M0(O#I,8W"# HM\(O# G,# 7"C"#"#$"-")#"%4(# 8(0# %(-#0.J(-OK#

XY3%6.K"=8#8C"

117

",/"Y(3%6.K"6."L(+."+%":.&%b."+%"-(:'"*a)"I'&(G'/-.6"6%":%&*(-%"+%+(3.&)%"."'-&.)"3').)"["."

+()-&(FH(&"&%):'/).F(6(+.+%)".6"(/-%&('&"+%")H"I'J.&!"

"

P%):%3-'" ." H/." -%&3%&." 3.&J." ':&%)(L." ]H%" z.).J6(." *%/3('/.K# ]H%" I.F6." +%" ]H%" 6.#

H&%.6(G.3(E/" +%" 6." *.+&%" Ñ]H%Ö" )(%*:&%" :.)." :'&" 6." *%+(.3(E/" +%" 6')" '-&')_!" XD.J.&+%K"

#<<84"B@@CK":H%+%"L%&)%"%/"6')"+()3H&)')"+%"Y3%6."["P%[/.4"%6"I%3I'"+%")%&"*.+&%)"%)"%6"

5.3-'&".&-(3H6.+'&"]H%"%)-&H3-H&."-./-'")H"+()3H&)'"3'*'")H"L(+."["6%"+.")%/-(+'!"

&

2)3!&A($5!""

!>#I.4"*(-?#+,#85"0+(#-,#8"-/#$")"#"8Y?#P]5;#*(*,0&(-?#8/*(#A"0#$"-"+(# %"-#8(-"-#A"#A"6.+(#

*(*,0&(-#+,#8"*6.(-#.*$()&"0&,-T#

R>#L"+"#,&"$"#+,222#-(6),#&(+(?#+,#%(-#A.D(-?#,-#85"0+(#7"#,7(%58.(0"0+(?#P0(T#^0(#7"222#7"#7.,0+(#

%"-#+.',),08."-#+,#50(#C#+,#(&)(?#P0(T#V5,-#*58A"-#8(-"-222#$5,-#*5C#6(0.&"-#$")"#$(+,)#),8()+")?#

C#]5,#$5,-# -.# &57.,)"#50(#6.,0#,0#8%")(# &(+"-#,-"-#8(-"-?# -,)W"#50"#A.-&()."#6(0.&"?#P0(T#V,)(#,-#

+.'W8.%#),8()+")#&"0&"-#8(-"-2##

t1u#

R>#bW?#$5,-#C"#+,#"AW#,*$.,="#(&)"#7.+"#*5C#+.',),0&,?#8(0#%(-#A.D(-?#85"0+(#,*$.,="0#"#%%,4")2#t222u#

x#$5,-#.)#7.,0+(#-5#0.J,=2#XY3%6.K"=8#8C"#

2)3!&C$D"!>&#

!># t222u# !,#]5,)W"#$),450&")222# P5-&,+?#$()#,D,*$%(?#+,#0.J"?#(#+,# D(7,08.&"?#]5;# -,# .*"4.0"6"#]5,#

]5,)W"#A"8,)#5-&,+#+,#4)"0+,T#PL/*(#-,#.*"4.0"6"#-5#7.+"T#

S>#^A?#$5,-222#I,#$,0-")#50#$(8(#8(*(222#8/*(#7"#"#-,)#+.'W8.%#&,0,)#A.D(-?#,+58"8./0?#(#-"6,)#,-&,222#

7,-&.)%"-?#%%,7")%"-#"222#-W#%"#8"6,="#-,#0(-#A"8,222#

!>#q#-,"?#5-&,+#-W#-,#.*"4.0"6"#"-W#8(0#'"*.%."222#

S>#bW2#^0(#-W#-,#$(0W"#"#$,0-")#,-(2#XP%[/.K"=8#8C""D." c6-(*." +%" %)-.)" 3.&J.)" ':&%)(L.)" ]H%" *%/3('/.&%*')" %)" 6." ^+%+(3.3(E/" %):.3('9

-%*:'&.6" ." 6."*.-%&/(+.+K" %)" +%3(&K" %6" I%3I'" +%" ]H%" )%." %b%" [" 3'/-%/(+'" +%" )H" L(+." 6%"

(*:(+."'-&.)".3-(L(+.+%)K"5H/3('/%)K".3-(-H+%)K"5'&*.)"+%"-&.-'"["*./%&.)"+%")%&K".6JH/.)"

+%" 6.)" 3H.6%)" )'/" *'/':'6(G.+.)" :'&" 6')" L.&'/%)!" Q-&." /(" )(]H(%&." I./" :'+(+'" )%&"

(/L%/-.+.)!_"XD.J.&+%K"#<<84"B@@C"Y/-%)"+%"6."+%).:.&(3(E/"+%")H)"I(b.)K"6."L(+."+%"Y3%6."["

P%[/."J(&E"%/"5H/3(E/"+%6")%&"*.+&%!"N/36H)'K"+%):H1)"+%"%)-%"%L%/-'"36.L%K")H":')-%&('&"

:.&-(3(:.3(E/" :'6W-(3." :'+%*')" +%3(&" ]H%" )(JH%" &%):'/+(%/+'" ." %)-%" *./+.-'" +%6" )%&"

*.+&%!",/"Y(3%6."'3H&&%".6J'".:.&%/-%*%/-%"(/L%&)'4"%66.K":'&"%6".5a/"+%"FH)3.&"-%/%&"H/"

118

I(b'K" +%bE" +%" I.3%&" *H3I.)" 3').)!" ,/-&%" %66.)K" 6'" ]H%" :.&." %66." %&." .6J'" 3'-(+(./'4" 6."

:.&-(3(:.3(E/":'6W-(3.!",)-'"c6-(*'")%"L%&a"%/"%6":&E2(*'"3.:W-H6'!"

&

,/" 3H./-'" ." 6." &%6.3(E/" %/-&%" 6."*.-%&/(+.+" X%6" :.:%6" +%"*.+&%):').C" [" 6')" L.6'&%)" +%"

)H5&(*(%/-'K" .F/%J.3(E/" [" )H*()(E/" ]H%" ./-%)" *%/3('/.F./" -./-'" Z'/Ga6%G" X#<<BC" ["

h.J%--(" X#<<ACK" 3'*'"z.).J6(." [" D.J.&+%K" 3'/)(+%&'"]H%"%/" 6')"+()3H&)')K" -./-'"+%"Y3%6."

3'*'"+%"P%[/.K")%"+%b."L%&".6J'"+%"6'"]H%"T.6L%(&'"-.*F(1/"%/3'/-&E"%/")H"%)-H+('K"["]H%"

-(%/%" ]H%" L%&" 3'/" %6" :.:%6" +%" *.+&%" ]H%" *H3I.)" L%3%)" " :&%+'*(/." )'F&%" '-&.)"

(+%/-(+.+%)" [" ]H%" (*:6(3.K" ^+%" %/-&.+._K" H/" 6HJ.&" +%" )H*()(E/" [" )H5&(*(%/-'A@" X.H/]H%K"

-.*F(1/K"+%":'+%&ABd":%&'"%)-'")%".F'&+.&a"*a)".+%6./-%C!"T.6L%(&'"+(3%4"

#!"-#*5D,),-#-,#"-5*,0#$).08.$"%*,0&,#,0#,%#$"$,%#+,#*"+),-#B2223# %"# .*"4,0#+,# %"#*"+),#,<8%5C,#

85"%]5.,)# '()*"#+,#4)"&.'.8"8./0#$,)-(0"%?#,0#4,0,)"%# -"08.(0"+"#0,4"&.7"*,0&,?#C# -,#,-&)58&5)"#

8(*(# %"# +,# 50"#*5D,)# -5').,0&,# C# -5').+"2# 9<.-&,# 50"# .0-.-&,08."# 50Y0.*,# +,# ,%%"-# ,0# &()0(# "# -5#

$)($.(# -5').*.,0&(# {-,J"%"+(# -.0# ,<8,$8./0[?# ]5,# $)(7.,0,# +,# +.-&.0&(-# %54"),-># %"# 7.(%,08."#

$"+,8.+"#,0#%"#.0'"08."?#,%#,<8,-(#+,#&)"6"D(#"%#]5,#-,#A"0#7.-&(#(6%.4"+"-#+,-+,#0.J"-?#%(-#*"%(-#

&)"&(-#+,# %(-#*").+(-#C# %"#0,8,-.+"+#+,#8).")#C#-(-&,0,)#"# %(-#A.D(-#'),0&,#"# %"#"5-,08."#8(0-&"0&,#

B2223#+,#-5-#$"),D"-2#!"#-56-.-&,08."#+,#%(-#A.D(-#C?#,0#"%450(-#8"-(-?# %"#7.+"#*.-*"#+,#,%%(-#,-#50"#

),-$(0-"6.%.+"+#]5,#%"-#*5D,),-#"-5*,0#-(6),#-W?#*Y-#"%%Y#+,#%"#$(-.6%,#8(%"6()"8./0#+,%#A(*6),2#

9-&(# ),$),-,0&"# 50"# '5,0&,# +,# 4)"0+,-# -5').*.,0&(-?# ,0# $).*,)"# .0-&"08."?# C# +,# $(+,)# ,0# ,%#

*,+."0(#C#%")4(#$%"=(?#]5,#-,#,0&),&,D,0#50(#-(6),#,%#(&)(2#V()#%(#*.-*(?#,0#-5#8(0+.8./0#+,#A.D"-#

),85,)+"0#,%#-5').*.,0&(#+,#-5-#*"+),-?#]5,#),.7.0+.8"0#8(*(#7"%.(-(#$,)(?#-(6),#&(+(?#),-"%&"0#,%#

+,#,%%"-#*.-*"-#,0#&"0&(#*"+),-2#XT.6L%(&'K"=88A4"=@8C"""

A@" Y36.&.3(E/"["&%56%2(E/"%/"3H./-'"."%)-%":.:%6"+%"6."*.+&%")H5&(%/-%4"

T&%'"]H%".]HW"%)":%&-(/%/-%"I.3%&"H/."./'-.3(E/4"%/"H/":&(*%&"*'*%/-'"3&%'"]H%")W"%2()-%K"%/":.&-%K"%)-%"+()3H&)'"X%)-%"-(:'"+%"3.&-."+%":&%)%/-.3(E/"%/"%)-.)"+')"*Hb%&%)CK":%&'"3&%'"]H%")%&W."H/"%&&'&"[":'+&W." (*:6(3.&" 3.%&" %/" H/" &%+H33('/()*'" :%6(J&')'K" ]H%+.&/')" 3'/" %)-." :.&-%" +%" L(3-(*(G.3(E/!"i&%3().*%/-%K"["6'"]H%"*%":.&%3%"]H%"%)"(/-%&%)./-%"%"(*:'&-./-%"&%)3.-.&"+%"%)-.)"I()-'&(.)K"%)"3E*'K".+%*a)"+%"%)-." 5.3%-.K"+%"%)-." (+%/-(+.+"+%"^*.+&%")H5&(%/-%_" X:'&]H%"%)-'"/'":H%+%"/%J.&)%C"%2()-%"-.*F(1/" 6." &%(L(/+(3.3(E/"[" 6."3'/)-&H33(E/"+%"H/."/H%L.")HFb%-(L(+.+".":.&-(&"+%" 6.)"I()-'&(.)"+%" 6H3I."X-./-'"%/"%6"I'J.&"3'*'"3'/"6."'&J./(G.3(E/C!",/"R'`."P%[/."]H%+."36.&'"%)-%":H/-'"3H./+'K".6":%/).&"%66." ]H%" [." :'+W." .3.F.&)%" 6." %/-&%L()-.K" -(%/%" 6." /%3%)(+.+" +%" I.F6.&" +%" 6." 6H3I.d" 3&%'" ]H%" %)" H/"*'*%/-'"36.L%"]H%"+%b."L%&"6."%)-&%3I."&%6.3(E/"%/-&%")H"I()-'&(."+%"6H3I."%/",H&%p.K"["6."3'/)-&H33(E/"+%")H"(+%/-(+.+!"

"AB D."&%6.3(E/"+%"*.-%&/(+.+"[":'+%&")%"L%&a"*a)".+%6./-%K"%/"%6"T.:W-H6'"@K"%/"H/".:.&-.+'"+%+(3.+'"

%236H)(L.*%/-%"."%)-."&%6.3(E/!"

119

,)-'" :H%+%" L%&)%" 36.&.*%/-%" %/" %6" 3.)'" +%" Y3%6.!" ,/" )H" &%6.-'" )%" *H%)-&." 6." :.&-%"

).3&(5(3(.6"3'*'"H/'"+%"6')"L.6'&%)"*a)".:&%3(.F6%)!"m.F6./+'"+%")H"*.+&%K")H":&(*'&+(.6"

%b%*:6'".")%JH(&4""

"

R8,%">#V,)(# ),"%*,0&,#$5,-#7,)#,%# -"8).'.8.(#]5,#,%%"#A"8W"?# C#,%#"*()#]5,# &,0W"#"# -5-#A.D(-222#\(-#

7"%()"6"#&"0&(2#V5,-#8(*(#]5,#C"?#A"8,)%"#4"-&")?#8(*(#]5,222#,-(#C"#0(#,0&)"6"#,0#*.#8"6,="2#t222u#

V()]5,#,%%"#0508"#+,8W"#50#H0(K2#H\,8,-.&(#,-&(K2#HV5,-#A.D"?#8(*(#-,"?#$,)(?#$).*,)(#I.(-?# &,# %(#

8(*$)(2K#V,)(#7"#8),8.,0+(#50(?#C#-,#7"#50(#+"0+(#85,0&"#+,%#-"8).'.8.(#]5,#A"8,0#%(-#$"+),-#$()#

50(2#XY3%6.K"=8#8C""

,/" Y3%6." %6" /(L%6" +%" ).3&(5(3('" [" )H5&(*(%/-'" L./" %/" +(&%3-." :&':'&3(E/" 3'/" %6" J&.+'" +%"

.+*(&.3(E/"+%"%66."I.3(."6')"'-&')!"T'*:.&./+'"%6")H5&(*(%/-'")H['"3'/"%6"+%"'-&.)"*.+&%)"

+%"+%).:.&%3(+')K"Y3%6."*%/3('/.4"

#

R>#G(+(-#&,0,*(-#,%#*.-*(#-5').*.,0&(?#%"#*.-*"#$,0"2#V,)(#A"C#50"-#*Y-#]5,#(&)"-2#t1uI.4(?#C(?#

"$")&,#+,#*.#-5').*.,0&(?#C(#"+*.)(#"#9%.-"?#"+*.)(#"# %"#'"*.%."#+,#b").?#"#!.8A.&"?#"#I(J"#S,C0"?#

$()]5,#A"#-.+(#*Y-#'5,)&,#-5#$)(6%,*"#+,#,%%"-?#P0(T#I.4(?#"50#-.,0+(#%"#*.-*"#A.-&()."?#A"0#-.+(#

4(%$,"+"-?#A"0#-.+(222#$5,-#*Y-#%"-&.*"+"-2##

#

+3 R%450"-#8(08%5-.(0,-#),-$,8&(#"#%"#*"&,)0.+"+#C#,%#$"$,%#+,#*"+),-$(-"#

"

Y"6'"6.&J'"+%6"&%6.-'"%/"6.)"I()-'&(.)"+%"L(+."H/"-%*."&%3H&&%/-%K")%":%&3(F%"H/."3'/)-./-%"

]H%" -(%/%" H/" J&./" :'-%/3(.6" +%" )(J/(5(3.&" [" %/J&./.&" L.&(')" .):%3-')" +%" )H" L(+.4" %6" )%&"

*Hb%&%)"*"+),-$(-"-2#,)-'":H%+%"%/3'/-&.&)%"%/"L.&(')"/(L%6%)4"

#C H222,0#-5#8(0+.8./0#+,#A.D"-#),85,)+"0#,%#-5').*.,0&(#+,#-5-#*"+),-?#]5,#),.7.0+.8"0#

8(*(# 7"%.(-(# $,)(?# -(6),# &(+(?# ),-"%&"0# ,%# +,# ,%%"-# *.-*"-# ,0# &"0&(# *"+),-2K#

XT.6L%(&'K" =88A4" =@8C4# ,/" Y3%6.K" -.6" L%G" *a)" %/5a-(3.*%/-%K" /'" :H%+%" :.).&"

+%).:%&3(F(+." %)-." 3'/)-./-%K" %)-%" ^!,.&*(&.7K& X*'-(L'" 3'/+H3-'&" :&(/3(:.6C" ]H%"

%/J&./.4" .:.&%3%" &%3H&&%/-%*%/-%" %/" )H" +()3H&)'" )H" &%6.3(E/" 3'/" )H"*.+&%" [" 6."

/%3%)(+.+" X(/)()-%/3(.C" %/" &%(L(/+(3.&K" &%3'/'3%&" [" L.6'&.&" )H" -&.F.b'" ).3&(5(3(.6" ["

.F/%J.+'!"V%" 6%%"H/")%/-(*(%/-'"+%"+%H+."I.3(."%66."[K")'F&%"-'+'K")%" (/-%&:&%-."

%)-." *.+&%" 3'*'" H/." *'+%6'" 5%*%/(/'K" H/." 5(JH&." 36.L%" %/" 3H./-'" ." 6."

-&./)*()(E/"+%"L.6'&%)K"+%"6')"I'&(G'/-%)"+%":')(F(6(+.+%)"+%"&%.6(G.3(E/"9%/"-./-'"

120

*Hb%&9K"+%"%)-%"-(:'"+%6"+,6,)#-,)K"+'/+%"6')"I(b')K"%6"I'J.&K"%6"%):')'K"6."5.*(6(.K")%"

./-%:'/%/"."*H3I')"'-&')":&'[%3-')" X%66." &%/H/3(." ." )%&" %/5%&*%&.K" :'&"]H%&%&"

-&.F.b.&" :.&." .[H+.&" ." )H"*.*ad" /'" -&.F.b.K" :'&]H%" )H" %):')'"/'" 6." +%b.K" %-3!C!"

,)-a"36.&.*%/-%":&%)%/-%"%)-%" 6%J.+'":'&":.&-%"+%")H"*.+&%"+%" 6'":&('&(-.&('"+%6"

I'J.&K"+%"%)-.&")(%*:&%"%/"3.).K"3'/"6."5.*(6(.K":.&."[":'&"6."5.*(6(.K"+%"3'/)%&L.&"

%)-%"*H/+'" 5.*(6(.&" )(%*:&%" %/" %6" a*F(-'" +%" 6'" :&(L.+'K" 36.&." [" %/5a-(3.*%/-%"

+(L(+(+'"+%K"%"(/.33%)(F6%":.&."%6"*H/+'":cF6(3'!"N/36H)'"6."+%3()(E/"+%"3.).&)%")%"

.)'3(." %/" )H" +()3H&)'" X)%" L.6(+.K" )%" bH)-(5(3.C" 3'/" 6." .:&'F.3(E/" +%" 6."*.+&%" +%6"

%):')'"["%6"&%):%-'"]H%"1)-%"-(%/%"I.3(."%)-."c6-(*."X)H")H%J&.C!"

=C 9%#)(%#*"&,)0(?#8(*(#6.,0#+.8,#!"4")+,?#0(#,-#,<8%5-.7(#+,# %"-#*"+),-#]5,#&.,0,0#

A.D(-2&Q:%&.K"+%" (JH.6" 5'&*.K"%/"*H3I.)"+%" 6.)" &%6.3('/%)"%/-&%"I%&*./')K" )'F&%"

-'+'"%/"5.*(6(.)"+%"*H3I')"I(b')!"

#! ,/"Y3%6.K" %)-%" &'6" %)" 5H%&-%"+%"%66."I.3(." )H)"I%&*./')"*%/'&%)" X[."%)-./+'"

3.).+.K"%66."%&." 6."%/3.&J.+."+%"L%&"]H%"I(3(%&./" 6." -.&%.K"]H%"3'*(%&./K"]H%"

-HL(%&./"'&+%/.+."6."3.).K"%-3!"*(%/-&.)")H"*.*a"-&.F.b.F.C"

=! $.*F(1/")%"+."%)-'K"+%"H/."+'F6%"LW.K"%/"%6"3.)'"+%"Y(3%6.K"-./-'":'&":.&-%"+%"

%66." I.3(." " )H)" I%&*./')" *%/'&%)K" 3'*'" +%" )H" I%&*./'" y.6%/-W/"

X+%).:.&%3(+'C" I.3(." %66.!" ,66." )%" &%5(%&%" )(%*:&%" ." 6." 5(JH&." +%" )H" I%&*./'"

3'*'"+%"-H-'&!"

"

@C #H!"-#*5D,),-# -,# "-5*,0#$).08.$"%*,0&,# ,0# ,%# $"$,%# +,#*"+),-K# XT.6L%(&'K" =88A4"

=@8C4" VH" L(+." )%" %2:6(3." X./-%)" +%" %/-&.&" .6" T'*(-1C" [" )%" /.&&." ." :.&-(&" +%" )H)"

%2:%&(%/3(.)"3'*'"*"+),-$(-"K".*."+%"3.).K"%/5.-(G./+'")H":.:%6"%/"%6"3H(+.+'"

+%"6')"I(b')!"

BC ,/"6')"I(b')"-.*F(1/")%"L%"-&./)*(-(+'"%)-%"6%J.+'"+%6")%&":.&."6')"'-&')d"%/-&%")H)"

I(b')" -.*F(1/" )%" &%:&'+H3%/"%)-')" &'6%)"*.-%&/')"+%" 6')"*a)"J&./+%)"." 6')"*a)"

:%]H%`')!""

AC H!"# ),"%.="8./0# +,# %"#*"+),# -.,*$),# $"-"# $()# %"#*,+."8./0# +,# %(-# (&)(-2# \(# A"C#

,<.-&,08."#$")"# -W#*.-*"2_" XD.J.&+%K"#<<84"B@BC#V%"/.&&."%/" -'&/'"." 6')"I(b')4"%/"

121

Y3%6."["P%[/.":'+%*')"L%&"]H%")H)"I()-'&(.)"+%"L(+.")%"3'/L(%&-%/"%/" 6.)"+%")H)"

I(b.)!",6"%/-&.*.+'"+%")H"/.&&.-(L.".)W"6'"3'/)-.-.!"

"

"

E2E2Z2E2E 9%#A(*6),#,0#%"#'"*.%."#

"

,6":.+&%K":'&"'-&'"6.+'K"+%)+%"%)-."(+%'6'JW.":.-&(.&3.6K"%)"3'/)(+%&.+'"3'*'"^%6"I'*F&%"

:6%/'K"%6".+H6-'"]H%"-&.F.b.K"]H%"'&J./(G."6.")'3(%+.+"["+(&(J%"%6"-&.F.b'K"6.")'3(%+.+"["%6"

,)-.+'!"VH"3.6(+.+"+%":.+&%")%")H*."%/-'/3%)"."6')".-&(FH-')"*.)3H6(/')":.-&(.&3.6%)"["6%"

'-'&J."%6":'+%&"+%"]H(%/" -&.)3(%/+%"*%+(./-%" 6')"I(b')K"%/"]H(%/%)")%":%&:%-c."[")'F&%"

]H(%/%)" %b%&3%K" ." /'*F&%" +%6" :'+%&K" 6." +(&%33(E/" [" %6" +'*(/('" %/" 6." 3'-(+(./(+.+!_"

XD.J.&+%K" #<<84" =?B9=?AC" D." &%6.3(E/" %/-&%" 6')" *(%*F&')" +%" 6." :.&%b." %/" H/." 5.*(6(."

^(*:6(3." %6" &%3'/'3(*(%/-'" +%" 6." .H-'&(+.+" *.)3H6(/." 3'*'" :'+%&" c6-(*'" [K" %/"

3'/)%3H%/3(.K" 6." .3%:-.3(E/" +%" 6.)" /'&*.)" ]H%" +%" %66." %*././!" ,)-'" :%&*(-%" 6."

.:&':(.3(E/" +%6" 3H%&:'" [" 6." )%2H.6(+.+" +%" 6." *Hb%&K" .)W" 3'*'" +%" :.&-%" +%" )H" -(%*:'K"

-&.F.b'"["6(F%&-.+"+%"*'L(*(%/-'":'&":.&-%"+%6"/c36%'"5.*(6(.&!"D.".H-'&(+.+"+%"J1/%&'"%/"

*H3I')"3.)')")%":&'6'/J.".".6JH/.)"'-&.)"&%6.3('/%)"+%/-&'"+%"6."5.*(6(.!_"XT.6L%(&'K"=88A4"

@=C" ,6" :.:%6" -&.+(3('/.6" +%6" I'*F&%" " %)-.&W." -.*F(1/" &%6.3('/.+'" 3'/" 6.)" 5'&*.)" +%"

3'%&3(E/" ]H%" *%/3('/." D.J.&+%4" ^+'6'&K" -%*'&K" 3.H-(L%&('K" &%36H)(E/K" %236H)(E/K"

:&'I(F(3(E/K" :&%*(.3(E/K" L(+.9*H%&-%!_" XD.J.&+%K" #<<84" @7<9" @?8C" T'/" )H)" L.&(./-%)" ["

*'+(5(3.3('/%)"&%6.3('/.+.)"."/H%L')":&'3%)')")'3(.6%)"X.3-(L(+.+%)"%2-%&/.)"."6."5.*(6(."

:'&" :.&-%" +%" 6.)" *Hb%&%)" ]H%" (/3&%*%/-./" .H-'/'*W.CK" :H%+%" +%3(&)%" ]H%K" %/" 6."

.3-H.6(+.+" 9[" %)-'" 6'" L%*')" %/" %)-')" 3.)')9" ^:'&" 6'" &%JH6.&K" 6." .H-'&(+.+" %/" -'&/'" ." 6."

.:&':(.3(E/" [" +()-&(FH3(E/"+%" 6')" &%3H&)')K" 6." -'*."+%"+%3()('/%)K" %6" %)-.F6%3(*(%/-'"+%"

+(5%&%/-%)"/'&*.)"3'/")H)"3'&&%):'/+(%/-%)"*%3./()*')"+%"L(J(6./3(."["3.)-(J'K"%/-&%"6')"

]H%" )'F&%).6%/" %6" %/3(%&&'K" 6." &%:&%)(E/" +(&%3-." X!!!C" [" +(5%&%/-%)" 5'&*.)" +%" %236H)(E/_"

XT.6L%(&'K"=88A4"@=CK")(JH%/"%)-./+'":&%)%/-%)!""

T.6L%(&'" 93'*'" [." )%" I.FW." *%/3('/.+'" ./-%&('&*%/-%9" )%`.6." 6'" ]H%" 5.*(6(." ["

)'3(%+.+"3'*:.&-%/4"6."5(JH&."+%6"^-(6,)"0(_K"%/3.&/.+."%/")'3(%+.+%)":.-&(.&3.6%)"3'*'"

122

6."/H%)-&."J%/%&.6*%/-%"%/"6."5(JH&."+%""5&().+"+#D,)Y)]5.8""+%6":.+&%"X'"+%"6')":.+&%)CK"["

%/")H)"*,8"0.-*(-#+,#+.-8.$%.0"":&':(')"X]H%"/'":H%+%/M+%F%/")%&"3H%)-('/.+')":'&"6')"

+%*a)CK" *H3I.)" L%3%)" )(%/+'" 6." 3'%&3(E/" X5W)(3.C" H/'" +%" 6')" &%3H&)')" :.&." 6'J&.&" 6."

'F%+(%/3(."["%6"3'/-&'6!"V%"-&.-.K":H%)K"+%"^)H*()('/%)"5H/3('/.6%)"]H%")%".6(%/-./K"3'*'"

6." .3%:-.3(E/" +%" H/." .H-'&(+.+" (/+()3H-(+.d" &%F%6+W.)" ]H%" )%" 3.)-(J./K" 3'*'" 6."

+%)'F%+(%/3(."3'/3%&-.+.!_"XT.6L%(&'K"=88A4"@=C""

,/"%6"3.)'"+%"%)-.)"-&%)"*Hb%&%)"%2()-%"H/."I()-'&(."5.*(6(.&"+%"3'/-&'6":'&":.&-%"+%"

)H)":.+&%)"'"-H-'&%)"."-&.L1)"+%"*%+(+.)"3'%&3(-(L.)"+%"+()-(/-')"-(:')!""

P%):%3-'".6"3.H-(L%&('"["&%36H)(E/K"T.6L%(&'"*%/3('/.4"

#9%#,08.,))(# %.&,)"%#+,#A.D"-#C#,-$(-"-# t1u#,-#50"#'()*"#+,# .*$,+.)# &(+(#*(7.*.,0&(#C#,<&),*")#,%#

8(0&)(%#-(6),#,%%"-?#,0#$")&.85%")#85"0+(#-,#$),-,0&"#,%#).,-4(#+,#+,-(6,+.,08."#"#"%4X0#*"0+"&(#

'"*.%.")2# 9-# "# %"# 7,=# 50"# '()*"# +,# 8(0&)(%# ,<&),*(# C# 50# 8"-&.4(# ]5,# -58,+,# "# 8(0')(0&"8.(0,-#

'"%%.+"-#(#"#+,-"'W(-#4)"7,-#+,#%"-#'.45)"-#+,#"5&().+"+2"XT.6L%(&'K"=88A4"=@?C""iH%+%"+%3(&)%"]H%"%/" 6')"3.)')":.&-(3H6.&%)"+%"+'`."Y3%6."["+'`."P%[/.K"%/")H)"/H%L')"

/c36%')"5.*(6(.&%)K"%6"*.&(+'"3H*:6%"+%".6JH/."*./%&."%)-%":.:%6!"Y)H*%/"%)-')"c6-(*')"

6."-.&%."+%""*./-%/%&"%6"'&+%/K"%6"3'/-&'6"["6."'F%+(%/3(."%/"6."5.*(6(.K"%b%&3(%/+'"+'*(/('"

X."-&.L1)"+%"6.)"*%+(+.)"^/%3%).&(.)_C"-./-'")'F&%"6')"I(b')K"[")'F&%"-'+'")'F&%"6.)"I(b.)K"

3'*'")'F&%")H)"%):').)!"P%):%3-'"."%)-'"c6-(*'":'+%*')"+%3(&"]H%"6')"*.&(+')K"-./-'"%6"

+%"Y3%6."3'*'"%6"+%"P%[/.K"%/3.&/./"%)-%":.:%6"-&.+(3('/.6"+%"3'/-&'6"["3'%&3(E/!"O'".)W"

6.":.&%b."+%"Y(3%6.!"

&

A($5!>&

R>#I,8W"# ;%# H,-# ]5,# &X# t),'.).;0+(-,#"#@.%"?# -5#A.D"#+,-"$"),8.+"u# &.,0,-#]5,#,-&")# ,0# &5# 8"-"?# 0(#

"0+")#$()#"AW?#$()]5,#0(#-"6,-222K2#XY3%6.K"=8#8C""R>#!(#]5,#0(#%,#45-&"6"#,)"#]5,#%%,4")"0#&")+,2#q#-,"?#&,0W"0#50#A()").(#$")"#%%,4")2##

!>#Px#5-&,+?#$()#,D,*$%(?#8/*(#,)"#,0#,-,#-,0&.+(T#b.#5-&,+#7,W"#]5,#,-&"6"0#"AW#8(0#-5-#0(7.(-222#

R>#\(?#0(#*,#*(%,-&"6"2#:,#+"6"#*.,+(?#P0(T#Q5,#-5#$"$Y# %"-#7.,)"#C#]5,#"#*W#*,222#$5,-#*,#

),4"J")"222#\"+"#*Y-2# t1u#,0#,-,#-,0&.+(?# -W2#9)"#*Y-#8/*$%.8,2# t1u#\(?# -W?#,0#,-,#"-$,8&(#-W#,)"#

*5C222#*5C#8,%(-(2#bW?#$5,-#;%#%,-#6).0+"6"222#MC(#%,-#%%,4"6"#"#+")#*"0"=(-O#L5"%]5.,)#),$),0-./0?#;%#

%"-#),$),0+W"2#V,)(#"-W#]5,#%%,4")"#"#%(-#4(%$,-#C#,-(?#0(2t1u#!(#]5,#0(#%,#45-&"6"#,-#]5,#-,#'5,)"0#

"#6".%,-2#l%#+,8W"#H\(2#b.#7"0#"#50"#'.,-&"?#"#%"-#05,7,?#+.,=#+,#%"#0(8A,#C"#%(-#]5.,)(#"]5WK2#x#,)"#

85"0+(# %"-# '.,-&"-# ,*$,="6"0#C"# &")+,8.&(222t1u^0"#7,=# '5,)(0#"#50#@"%%(},,02# t222u#R]5W?# "#50"#

85"+)"2# x# %%,4"# *.# A.D(# *"C()?# C# %,# +.8,# H$"$Y?# P%,-# +"-# $,)*.-(# "# %"-# *58A"8A"-# ]5,# 7"C"0#

123

8(0*.4(TK#t1u#HV,)(#"#%"-#05,7,#%"-#]5.,)(#"]5WK2#MV5,-#0(#-,#]5,+/#8(0#%"#+5+"O#RAW#-,#7"#"#7,)222#

x#$5,-#,-&"6"#(-85)(?#P0(T#L(0#%5=#*5C222#x#),4),-/#$,)(#-X$,)#,0(D"+(2#HML/*(#$,)*.&,-#]5,#&5-#

A.D"-#7"C"0#"#,-"-#()4W"-OK#HM\(#,-#50"#()4W"?#,-#,-&(222O#9-#50#@"%%(},,0?#C#,-&Y0#"8(-&5*6)"+(-#"#

A"8,)%(-# "-W?# 8(0# $(8"# %5=2K# H\(?# 0(K?# +.8,2# H9-(# 0(# ,-&Y# 65,0(K2# V,)(# $"),8W"# 0(# -;# ]5;# 8(-"2#

90&)"6"#C#-"%W"?#,0&)"6"#C#-"%W"222#\(?#85"0+(#%%,4")(0#$5-(#"#*.#A.D(?#$,)(222#M50"#*"%&)"&"+"O#!(#

),4"J/2#\(#%,#$,4/?#$,)(#%(#),4"J/#*58A(2#x#+.8,#HD"*Y-#%,#7(C#"#$,+.)#$,)*.-(#$")"#%%,7Y)-,%"-#"#

"%4X0#%"+(222K2#t222u#Q5,#-.,*$),#"0+57.,)(0#8(0#0(-(&)(-2#b"%W"*(-#0(-(&)(-#C#-"%W"0#,%%(-?#"#+(0+,#

'5,)"2#t222u#XY3%6.K"=8#8C""Y"Y3%6.K":'&"%b%*:6'K"/'" 6." ^+%b.F._" ).6(&" )'6.!"|K"%66."*()*.K" &%:'&-.K"./-%)"+%" 6'"+%" 6."

+%).:.&(3(E/"+%")H"I(b.K"/'")%".-&%LW.".").6(&")(/")H"*.&(+'4"

#V()]5,#-W#0(#%,#45-&"6"#"#;%#]5,#-"%.,)"#C(2#b.#0(#*,#+,D"6"#.)#85"0+(#,%%"-#.6"0#"#8(*$,&.)#,0#0"+(#

-.08)(0.="+(222#bW?#]5,#-5$.,)"#]5,#"0+"6"#C(#,0#"%4X0#(&)(#%"+(?#M5CO#b,#*(%,-&"6"#*58A(2#XY3%6.K"=8#8C""

,6"*.&(+'" +%" R'`." P%[/." 5H%" )(%*:&%"*H[" +%*./+./-%" %" (*:')(-(L'" [" L('6%/-'K" )'F&%"

-'+'"3H./+'"F%FW.!""

"

,)" %)-." 3H.6(+.+" H/'" +%" 6')" 'F)-a3H6')" 3'/-&." 6')" ]H%" %)-.)"*Hb%&%)" -(%/%/" ]H%" 6H3I.&"

:')-%&('&*%/-%":.&.":'+%&"%)-.&"["%/"6."'&J./(G.3(E/d"["6'"]H%"+(5(3H6-.")H":.&-(3(:.3(E/"%/"

6."*()*.!"

"

,)" (*:'&-./-%".36.&.&"]H%"%)-%" -(:'"+%" &%6.3('/%)"/'"%)"]H%" -%/J./")(%*:&%"]H%" )%&"+%"

%)-."*./%&.d"^)%&W."5.6)'")H:'/%&"]H%"6.)"*Hb%&%)K"%/")H"3'/+(3(E/"+%"%):').)K"'"6')"I(b')"

%/"6."&%6.3(E/"5(6(.6"JH.&+./"H/.":')(3(E/"+%")H*()(E/".F)'6H-.!"O'"I.["H/')"]H%"%b%&3%/"

:'+%&"["'-&')"]H%"3.&%3%/"+%"16K")(/'"]H%")%"3&%./"&%6.3('/%)"+%)(JH.6%)"["3.*F(./-%)K"3'/"

*c6-(:6%)".)'3(.3('/%)"["%/5&%/-.*(%/-')K" 5'&*./+'"8"+,0"-#+,#$(+,)!_" XT.6L%(&'K"=88A4"

@BC",)-'".6H+%"." 6'"]H%")'3(.6"["3H6-H&.6*%/-%"3(&3H/+."6."5.*(6(.K".]H%66'"%/" 6'"]H%"1)-."

%)-a"(/*%&).K"["-.*F(1/"."6."3.&.3-%&W)-(3."+%"%)-%"%):.3('"XH/(+.+C"5.*(6(.&"+%")%&".]H16"

%/"+'/+%":H%+%"&'*:%&)%" 6'"^)'3(.6*%/-%":&%%)-.F6%3(+'_K"+'/+%"L(L%"[")%"3'/)-&H[%"["

&%3'/)-&H[%" 6'":.&-(3H6.&K" 6'" %):%3W5(3'K" +'/+%":.&-(3(:./" .J%/-%)" [" /'"*%&')":&'+H3-')"

)'3(.6*%/-%" 3.63.+')!" i'+%*')".+%6./-.&" ["+%3(&" ]H%"*H3I.)"+%"%)-.)"+(/a*(3.)" L./"."

124

3.*F(.&"."&.WG"+%"6."+%).:.&(3(E/"+%"6')"5.*(6(.&%)"["6."+%&(L.+."Fc)]H%+."[":.&-(3(:.3(E/"

:'6W-(3."+%"%)-.)"*Hb%&%)!"

125

E2E2Z2Z #!"#&,)).&()."%.+"+##

,6" %):.3('" +'*1)-(3'K" '" F(%/" %6" 3'/3%:-'" .*:6('" +%" ^-%&&(-'&('_K" +%6(*(-.+'" ["

*.-%&(.6(G.+'"%/"(+%.)"3'*'"^6."3.)._K"^%6"I'J.&_K"^6."-(%&&._K")'/".)'3(.+')"3'/"%6"a*F(-'"

5.*(6(.&K" :&(L.+'!" P%):%3-'" ." %)-%" 3'/3%:-'" )(*FE6(3'" +%" 6." ^-(%&&.93.)._" '" 6."

^-%&&(-'&(.6(+.+_K"&%-'*.*')"."D.J.&+%K"]H(%/"+(3%"]H%""

"

!"#'"*.%."?#C#85"%]5.,)#4)5$(#+(*;-&.8(?#-,#"-(8."#"#50#&,)).&().(#C#-,#"))".4"#"#;-&,?#6Y-.8"*,0&,#

$()# %"-# +,&,)*.0"8.(0,-# +,%# &)"6"D(# C# %"# ),-.+,08."># %"# &.,))"# B*.%$"?# 6(-]5,?# &,)),0(3p# %"# 8"-"#

B,-$"8.(# +,# ),-.+,08."3& -,# %,# "-.*.%"# -.*6/%.8"*,0&,# "# %"# '"*.%."# C# "# %(-# $"+),-# B,0# "%450(-#

-.-&,*"-# '"*.%."),-?#"# %"#*"+),32# !"# &.,))"[8"-"#,-# %"#$)($.,+"+#8")"8&,)W-&.8"#+,%#4)5$(# '"*.%.")?#

,-&Y#,0#%"#6"-,#+,# %"-#),%"8.(0,-#,0&),#-5-#*.,*6)(-?#+,%#&)"6"D(#C#+,#%"# .+,0&.+"+#+,#"%450(-#+,#

,%%(-p#8(0-&.&5C,#%"#A,),08."#C#8(0'.,),#-,0&.+(#"#%"#7.+"2#XD.J.&+%K"#<<84"=?7C"#

!"#8"-">#50#,-$"8.(#.0&(8"6%,#+,#-,45).+"+?#$).7"8W"#C#$)(&,88./0#

"

Y+%*a)"+%"%)-%")%/-(+'"+%"(+%/-(+.+"[".&&.(J'K"%2()-%"H/"+()3H&)'"I%J%*E/(3'"6(F%&.6"]H%"

(+%/-(5(3."%)-%"%):.3('"3'*'"H/"%):.3('"+%")%JH&(+.+K"+%"3H(+.+'"["+%":&'-%33(E/"I.3(."6')"

*(%*F&')"+%" 6.)" 5.*(6(.)!",)".]HW"+'/+%")%"+./"^'-&')"I%3I')"+%" 6." &%:&'+H33(E/"3'*'"

)'/" 6." :&(L.3W.K" 6." (/-(*(+.+K" %6" +%)3./)'K" 6')" .5%3-')K" %6" %&'-()*'K" 6." :&'-%33(E/" [" 6')"

3H(+.+')"L(-.6%)!_""XD.J.&+%K"#<<84"@7<9"@?8C"uH%+."%)-%"%):.3('".+%*a)K"+%/-&'"+%"%)-."

*()*." 6EJ(3."+()3H&)(L.K".6%b.+'"%" (/+%:%/+(%/-%"+%" 6." (/-%&L%/3(E/"+%6",)-.+'d"[":'&" 6'"

*()*'K"+%"6'":cF6(3'"["6'":'6W-(3'!",)-."(+%."]H%+."*.-%&(.6(G.+."%/"6')"+()3H&)')"-./-'"+%"

Y3%6."3'*'"+%"P%[/."%/"L.&(')"*'*%/-')4"

"

#C" ,/" 6.)" *%+(+.)" +%" 3'/-&'6" [" %/36.H)-&.*(%/-'" +%" 6.)" ]H%" I.FW.*')" I.F6.+'" 3'/"

./-%&('&(+.+K" " :H%+%" (+%/-(5(3.&)%" %)-." /'3(E/" +%" .)'3(.&" %6" I'J.&" [" %6" %/3(%&&'" %/" 1)-%"

3'*'" 6." J.&./-W." -./-'" +%" 6." ^)%JH&(+.+_K" :%&'" -.*F(1/" +%6" 3'/-&'6" X:'&" :.&-%" +%" 6')"

:.+&%)")'F&%"6')"I(b')"'"+%6":.+&%M*.&(+'")'F&%"6')"I(b')"["6."%):').C!"

P%6.3('/.+'"3'/"%)-'"c6-(*'K"%/"H/"%)-H+('"+%"3.)'"+%"5.*(6(.)"*%2(3./.)K"T.6L%(&'"

66%J."."6."3'/36H)(E/"+%"]H%4"

"

126

!"-#),%"8.(0,-#+,#$(+,)#'"*.%."),-#t,0#,-(-#8"-(-#,0#,-$,8W'.8(u#&.,0+,0#"#,-&"6%,8,)#50#8(0&)(%#+,%#

,-$"8.(?# 8(*(# 7.4.%"08."# +,# %(-#*(7.*.,0&(-# ]5,# -,# +"0#"%%W?# ]5,# -,#*"0.'.,-&"# -(6),# &(+(# ,0# %"#

'.D"8./0#+,# %"-#*5D,),-#"%#Y*6.&(#+,# %"#8"-"2#9-&"# z'.D"8./0y#7"#+,-+,#,%#,08.,))(# %.&,)"%?#]5,#0(#,-#

,-$()Y+.8(?#A"-&"#%"#"-.40"8./0#-(8."%#+,%#,-$"8.(#+(*;-&.8(#8(*(#&,)).&().(#$)($.(#+,#%"#*5D,)2#

"$'+.)" 6.)" -%/)('/%)" ]H%" )H&J%/K" )'F&%" -'+'" %/-&%" :.+&%)" %" I(b.)K" ." :.&-(&" +%" ]H%" %)-.)"

c6-(*.)" +%3(+%/" (&)%" +%" 3.).K" )'/" -.*F(1/" &%:&%)%/-.-(L.)" +%" %)-%" +()3H&)'" +%" 6." 3.)."

3'*'"3%/-&'"+%"3'/-&'6"[":&'-%33(E/!""

Y3%6.K"I.F6./+'"+%"6.)"&.G'/%)":'&"6.)"]H%")H"I(b."+%3(+%"(/+%:%/+(G.&)%K"3H%/-.4"

#R>#1,*$,=/#"#&,0,)#$)(6%,*"-#8(0#-5#$"$Y?#$()]5,222#$5,-#]5,)W"# .)-,?#P0(T#t1u#bW2#V()]5,#0(# %,#

45-&"6"#"#;%#]5,#-,#'5,)"2#I,8W"#H-W#7"-?#$,)(#&,#),4),-"-2#\(#&,#7"-#"#]5,+")K2#x#%%,4/#50#*(*,0&(#

,0#]5,#%,#+.D(#H0(?#P-"6,-#]5;T#\(#7"-#"#-"%.)2K#HPV,)(#$()#]5;TK#HV()]5,#0(#,-&Y#6.,0#%(#]5,#,-&Y-#

&X#A"8.,0+(K2#x#,%%"#+.-85&W"#8(0#;%2#H\(?#,-#]5,#&X#,),-222#+,#%(-#8"$"&"8,-#]5,#&,#45-&"#&)",)#"#%"#

4,0&,222#x"#0"+"#*Y-#%(#]5,#&,#A"8,#'"%&"#50#8A.8(&,#$")"#$(+,)#*"0+")#"#&5#4,0&,2K#V()]5,#8(*(#

;%#C"#,)"#D,',#,0#50"#,*$),-"#C#&(+(#,-(222#I,8W"#]5,#%(-#$).-.(0"6"#*58A(#t1u#90&(08,-#%%,4/#50#

*(*,0&(# ,0# ]5,# C"# 0(# -($()&/# ]5,# -,# %,# %%"*")"# %"# "&,08./02# x# +.8,# H*,# 7(C# "# .0+,$,0+.=")K2#

V()]5,#C"#&)"6"D"6"2#x"#&,0W"#50#&)"6"D(2#x#+.8,#H:,#7(C#"#.0+,$,0+.=")?#*,#7(C#"#.)#"#7.7.)#-(%"K2#

HPV,)(#8(0#]5.;0#(#]5;TK#H\(?#*,#7(C#"#.)#"#7.7.)#-(%"2#\(#0,8,-.&(#"#0"+.,0#$")"#.)*,2#:,#7(C#"#

.0+,$,0+.=")?#C#C(#%,-#7(C#"#"7.-")#"#+/0+,#7(C#"#"0+")K2#t222u#U5,#*5C#+.'W8.%2##XY3%6.K"=8#8C""

,/"%6"3.)'"+%"P%[/.4"

S>#t1u#R#%"#*,D()#-,#'5,#8(0#,%#8(*$"J,)(2#t222u#!(-#+(-#-,#+,-"$"),8.,)(02#9%%"#+.D(#H\(?#$5,-#t222u#C(#

C"#&,04(#*.#,+"+?#t222u#C#C(#C"#$5,+(#+,8.+.)#+,#*W2#x#0(#,-#$")"#]5,#-,#$(04"0#"#$,0-")#*"%#+,#*W2#

x(#C"#&,04(#*.-#"J(-?#C#$5,-#7(C#"222#"# .)*,#"# %"#8"-"#+,#*.-#"*.4"-2K#x# %,#+.4(#HP$,)(#"#+/0+,?#

"]5W#(#"'5,)"TK#H\(K?#+.8,?#H$()#"8Y#0"+"#*Y-K2#V,)(#0(?#C"#+,-$5;-#0(#&")+/#*58A(#&.,*$(#C#-W#

7.0(# 8(0# ,%#*58A"8A(2# x# C"# 7.0(# 8(0# ,%#*58A"8A(# C# A"6%/# +,# ]5,# $5,-# .6"0# "# ,-&")2# x# 7,0W"0222#

%5,4(# -,# ]5,+"6"0# 8"+"# ]5.08,# +W"-?# 8"+"# *,-# (# "%4(222# \"+"# *Y-# +5)")(0# 50# "J(# C,0+(# C#

7.0.,0+(2#x#C"#+,-$5;-#$5,-#&(8/#,-&(#+,#]5,#%(-#+,-"$"),8.,)(0#C#A"-&"#"A().&"2##

!>#Px#8/*(#7,W"0?#$()#,D,*$%(?#5-&,+#8(*(#*"*Y#C#-5#,-$(-(?#8/*(#&(*")(0#,-(#+,#]5,#-,#'5,)"#"#

7.7.)#8(0#-5-#"*.4"-?#(#]5,#-,#'5,)"#+,#%"#8"-"T#

S>#t222u#65,0(?#-W#-,#A"#+,#A"6,)#,0(D"+(?#$,)(#0(#%"#+,&57(?#0(#%,#A"6%/#*5C#',(#"-W222#XP%[/.K"=8#8C""

=C"$.*F(1/"%/"%6"I%3I'"+%"3'/)%&L.&"%/"%)-%"%):.3('" 6')":&'F6%*.)"&%6.3('/.+')"3'/" 6."

5.*(6(." [" 6." (/)()-%/3(." +%" /'" ^L%/-(6.&6')_" I.3(." %6" %2-%&('&" )'/" H/." *H%)-&." +%" %)-%"

+()3H&)'!"

,/" Y3%6.K" :'&" %b%*:6'K" %)-a" 36.&.*%/-%" :&%)%/-%" %)-%" 6%J.+'" :'&" :.&-%" +%" )H"

*.+&%"+%"%)-.&")(%*:&%",0#8"-"K"3'/"6."5.*(6(.K":.&."6."5.*(6(.K"+%"3'/)%&L.&"%)-%"*H/+'"

5.*(6(.&" )(%*:&%" %/" %6" a*F(-'" +%" 6'" :&(L.+'K" 36.&." [" %/5a-(3.*%/-%" +(L(+(+'" +%K" %"

127

(/.33%)(F6%":.&."%6"*H/+'":cF6(3'd"%/*.&3.+.)" -'+.)" 6.)":&'F6%*a-(3.)"+%/-&'"+%"%)-.)"

3H.-&'":.&%+%)")(*FE6(3.)!",/"'-&.)":.6.F&.)K"%6"%)-.&",0#8"-""["*./-%/%&"."6')"*(%*F&')"

[" ." 6')" :&'F6%*.)" +%/-&'" +%" 1)-.K" %)" 6'" %]H(L.6%/-%" ." I.3%&)%" 3.&J'" +%" 6." 5.*(6(.K" ." 6."

3%&3./W.K"."%)-.&".6"3H(+.+'"+%"1)-.AA"A7!"VH"*H/+'")'3(.6K"+H&./-%"*H3I'"-(%*:'K")%"6(*(-E"

.6"*H/+'"+%6"I'J.&4""

"

R>#t90#,%#$5,6%(u#0(-#,0-,J"6"0#"#),=")#C#"#,-&")#+,0&)(#+,#%"#8"-"2#

!>#Px#+,#,-"#,&"$"#tC"#,0#,%#I2U2u#"#]5.;0#),85,)+"#5-&,+#8(0#*Y-222#8,)8"0W"T#PL(0#]5.;0#A"6%"6"#

*Y-T#\(#-;?#"%4X0#"*.4(?#"%450"#$,)-(0"#"-W#8,)8"0"222#

R>#\(2#I,#0(# -,)# ,0# %"#,-85,%"?# C(#"]5W#0(222#\(# &,0W"*(-222#q# -,)Y#]5,#,-(# %(# &)"W"# C(#+,-+,#*.#

.0'"08."2#Q5,#'5.*(-#*5C#),8"&"+(-#,0#&(+(-#%(-#"-$,8&(-2#

!>#:Y-#+,#8"-"?#+.4"*(-222#

R>#x#%5,4(#"]5W#"#*.#*"*Y#0(#%,#45-&"6"#]5,#"0+57.,)"#50(#,0#%"-#8"-"?#(#]5,222#I,8W"#H0(?#A.D"?#,0#

%"-#8"-"-#0(?#$()]5,#"AW#&,#+"0#*58A"-#8(-"-?#]5,#&,#+"0#]5;#+,8.)#8(0#(&)"-#$,)-(0"-2#90&(08,-#

0(#&.,0,-#$()#]5;#"0+")#A"8.,0+(#,-(2#L5"0+(#$5,+"-?#-"8"#"#8"*.0")#"#&5-#A.D(-#C#,08.;))"&,2#V,)(#

0.#"#,%%(-#0.#"#&.#&,#]5.,)(#7,)#,0#%"-#8"-"-2#t222u#90&(08,-#C(#8(07.7W"#8(0#%"-#$,)-(0"-#+,#%"#,-85,%"222#

q#8(0#%(-#*",-&)(-2#G57,#*58A(#8(0&"8&(#8(0#&(+(-2#L(0#,%%(-#-W2#XY3%6.K"=8#8C""##

R%".IW"6."(*:'&-./3(.")(J/(5(3.-(L."]H%"%66."6%"+."X3'*'")H"*.+&%C".6"I%3I'"+%":')%%&"H/."

3.).K"-%&&%/'":&':('K"(/+%:%/+(%/-%K":.&."3&(.&"."6."5.*(6(.4""

#V()]5,#*.#*"*Y#,)"#,0,*.4"#+,#]5,#7.7.;)"*(-#,0#8"-"-#"-W#+,#'"*.%."),-#(#"%4(2#I,8W"#*.#*"*Y#

H0(?#A.D"?#"50]5,#-,"#50#85")&.&(?#),+(0+(?#$,)(#]5,#&X#7.7"-#-/%(#8(0#&5-#A.D(-2#x#C"#-.#&5-#A.D(-#-(0#

&)"7.,-(-?#-,"#%(#]5,#-,"?#(#-.#&X#&.,0,-#]5,#8(*,)?#7"-#"#8(*,)?#C#-.#0(?#"#0"+.,#%,#7"-#"#+")#"#-"6,)#

]5,#0(#&.,0,-#]5,#8(*,)222K2#t222u#V()]5,#0.#,%%"#),0&"6"#,0#50"#7,8.0+"+2#\(?#,%%"#65-8"6"#-.,*$),#

50#85")&.&(?#50"#8(8.0.&"?#$,)(#-(%(-?#+,8W"#,%%"2#t222ux#+,#&(+(-#%(-#A,)*"0(-#'5,#%(#*.-*(2#XY3%6.K"=8#8C"",)-'"c6-(*'")%"&%6.3('/.K".+%*a)K"3'/"6'"]H%"i(6.&"T.6L%(&'"*%/3('/."3H./+'"I.F6."+%"6.)"

&%6.3('/%)"+%":'+%&"[" &%)()-%/3(."]H%")%"+./".6" (/-%&('&"+%" 6.)" 5.*(6(.)d":.&-(3H6.&*%/-%K"

%/-&%" ^6."*Hb%&_K"*.+&%):').K" [" ^%6"*.&(+'_" %/" )'3(%+.+%)" :.-&(.&3.6%)!" D." &%)()-%/3(.K"

:.&."%)-.".H-'&.K"^'3H&&%"+%)+%"6.":')(3(E/")HF'&+(/.+."Ñ!!!Ö")'F&%"-'+'"+%)+%"6')"%):.3(')"

.)(J/.+')" 3'*'" 6HJ.&%)" +%" 3'/-&'6" 96." 5.*(6(." :.&." 6."*Hb%&K" :'&" %b%*:6'9" I.3(%/+'" +%"

%66')"a*F(-')"&%)()-%/-%)"3'/"&%):%3-'".6":'+%&"+%6"'-&'!"Q:%&."%/":&'3%)')"+%&6.&J'":6.G'"

AA ,)-'")%"&%6.3('/."3'/"H/"*(%+'"+%"Y3%6."*H["-./J(F6%".").6(&"+%6"I'J.&K"[")'F&%"-'+'K").6(&")'6.K" ")(/")H"

*.&(+'4" ^V(%*:&%" ./+.F." ['" 3'/"*(" %):')'_" XY3%6.K" =8#8C!" R%):H1)K" 3'*'" )%" L%&aK" %)-." )(-H.3(E/K" .":.&-(&"+%6"%)-.&"%/"6."'&J./(G.3(E/K"3.*F(.":'&"3'*:6%-'!"

"

128

[" )H%6%" '3H&&(&" %/" 6.)" %)5%&.)" +%" 6'" 3'-(+(./'" [" %/" 6')" %):.3(')" )'3(.6%)" [" :&(L.+')" Ñ!!!ÖK"

.*:6(./+'" 6." 3.:.3(+.+" +%" *'L(*(%/-'" +%" ]H(%/" '3H:." 6." :')(3(E/" )HF'&+(/.+.!_"

XT.6L%(&'K"=88A4"=#C"

"

R%)+%" %)-." :%&):%3-(L." 3'*:6%b." [" +(/a*(3." 9[" /'" *'/'6W-(3." [" %)-a-(3.9" +%6" :'+%&K" %6"

,-$"8.(?" 6." 3.).K" /'" )E6'" :H%+%" &%:&%)%/-.&" X3'*'" 6'" I.3%" +%)+%" H/" :H/-'" +%" L()-."

)(*:6()-.C" %6" 6HJ.&" +%" ^3'/5(/.*(%/-'_" +%" 6." *.+&%):').K" )(/'" ]H%" -.*F(1/" :H%+%"

3'/L%&-(&)%"%/"H/'"+%"6')"6HJ.&%)"[":')(F(6(+.+%)"+%"6."&%)()-%/3(.4"

#!"# .0-.-&,08."#+,# %"-#*5D,),-#$()#,-&"6%,8,)#50"#8"-"#$)($."# %,D(-#+,# %"# '"*.%."#+,%#*").+(t222u# -,#

+,6,#,0&,0+,)#$),8.-"*,0&,#8(*(#%"#6X-]5,+"#+,#50#,-$"8.(#$)($.(?#.0+,$,0+.,0&,#+,#-,*,D"0&,#

8(0&)(%#C#,0#&()0(#"%#85"%#-,#,-&)58&5)")Y#,%#$)($.(#&,)).&().(#+,#+(*.0.(2#!"#+.',),08."#,0&),#z,-&")#

")).*"+"y#C# &,0,)# 8"-"#$)($."# ),-.+,# D5-&"*,0&,#,0# %"#7.4.%"08."# t1u#(# %"# %.6,)&"+#+,#*(7.*.,0&(#

+,).7"+"# +,# 50# ,-$"8.(# "5&/0(*(# ]5,# -,# 8(0-&.&5C,# 4)"+5"%*,0&,# ,0# ,-',)"# +,# $(+,)2# t1u# -,#

$5,+,#+,8.)#]5,#),$),-,0&"#%"#+.-&"08."#,0&),#*(7,)-,#,0#50#,-$"8.(#"D,0(#(#A"8,)%(#,0#50#,-$"8.(#

$)($.(#+,%#]5,?#$()#"J"+.+5)"?#%"#*5D,)#-,#7"#"+5,J"0+(#$"5%"&.0"#C#8),8.,0&,*,0&,?#4)"8."-#"#%"#

"5-,08."# +,%# A(*6),# {+,-7,0&"D"# .0.8."%# ]5,# -,# 8(07.,)&,# ,0# 8(0+.8./0# +,# $(-.6.%.+"+# +,# &(+"#

7,0&"D"#"#%")4(#$%"=(2"XT.6L%(&'K"=88A4"=@?9@;C""

Y"J&./+%)"&.)J')K"%)"1)-%"%6"*H/+'"+%"L(+."3'-(+(./."+%"Y3%6.K"P%[/."["Y(3%6."%/"%6"]H%"

3&%3(%&'/" [" 5H%&'/" %+H3.+.)!" ,)" %)-%" *()*'" *H/+'" %6" ]H%" )%" L%" (&&H*:(+'" :'&" 6."

+%).:.&(3(E/"5'&G.+."+%")H)"5.*(6(.&%)"[")H5&(&a"J&./+%)"&%3'/5(JH&.3('/%)!",)-')"3'/-%2-')"

%" I()-'&(.)" (/+(L(+H.6%)" )%&L(&a/" -.*F(1/" 3'*'" 6." F.)%" )'F&%" 6." 3H.6" )%" 3'/)-&H(&a" '-&."

5'&*." +%" %)-.&" %/" %6" *H/+'K" [" 6." ]H%" :'/+&a" %" (*:'/+&a" 6." :.H-.K" 6')" 6W*(-%)" ["

:')(F(6(+.+%)":.&."I.3%&6'!"uH1"%)"6'"]H%+."+%"%)-%":&(*%&"*H/+'"3'/'3(+'"["]H1"6'"]H%"

)%"-&./)5'&*.K"%)":.&-%"+%"6'"]H%"%/"%6")(JH(%/-%"3.:W-H6'")%"%2:'/+&a!""

129

TYiÅ$SDQ"@""

VHFb%-(L(+.+"[":'6W-(3."

['. U!& ,$%!W!0+(+Z"& V)0I!,!>& ;"& 7;",)& ,$& *+,!& #0!%#)(!,)'& 1e!,!& *)5*+Z& !& %$0& ()7)&

!"#$%a4&

"

L(0#,%%(-#%"#+.8A"#

-,#'5,#+,#*.#7.+"#

+,D"0+(#,0#*.#$,8A(##

$)('50+"#A,).+"2#

XD.H&."+%"i(/%+.K"%/"h(JH%&'.K"#<<<4"#?AC""

"I,-$5;-#+,%#-,85,-&)(#+,#*.#A.D"#%"#7.+"#8"*6./2#9-#8(*(#-.#%"#7.+"#-,#7(%7./#*Y-#(-85)"?#8(*(#-.#

50"#%5=#-,#"$"4/2#^0(#7.7,#"&()*,0&"+"?#C#A"-&"#8(0#$)(6%,*"-#+,#-"%5+2"XR'`."n.3'F."V(.*K".3-(L()-."+%6"ZY0A?K"%/"h(JH%&'.K"#<<<4#?AC"

",6"Ñ)H5&(*(%/-'Ö"+%"6')"5.*(6(.&%)"/'"Ñ-%&*(/.ÖK"(/36H)'")%"-&.)6.+."+%"J%/%&.3(E/"%/"J%/%&.3(E/!"

i.+&%)"["I%&*./')"I.F6.&a/")(%*:&%"+%6"+,-"$"),8.+(K"%):%&./+'"I.)-."%6"+W."%/"]H%")%"6')"66%L%/"."6."-H*F.K")H".:.&(3(E/K".H/]H%")%."+%")H)"IH%)')!",)-'"%)"6."+%)-&H33(E/")'3(.6"["5.*(6(.&!"

X-%)-(*'/('")'F&%L(L(%/-%K"%/"h(JH%&'.K"#<<<4"#?BC""

Y)W" 3'*'" 6'" %/H/3(./" %)-')" -%)-(*'/(')" +%" *.+&%)" [" 5.*(6(.&%)" +%" +%).:.&%3(+'M.)"

:'6W-(3'M.)"JH.-%*.6-%3'M.)K"6."+%).:.&(3(E/"+%"H/"5.*(6(.&"%)"H/":.&-%9.JH.)"%/"6."L(+."+%"

)H)")%&%)"]H%&(+')K"]H%"-(%/%"]H%"6(+(.&"%-%&/.*%/-%"3'/"%)-."5.6-."-./":.&-(3H6.&!""

#9%# -5').*.,0&(# +,# %(-# '"*.%."),-# ,-# .085"0&.'.8"6%,2# !(-# ,',8&(-# +,# %"# +,-$").8./0# '()="+"# -,#

&)"-%"+"0#+,#50"#4,0,)"8./0#"#(&)"?#C#,0#,%#8"-(#45"&,*"%&,8(#&(+"7W"#'"%&"#50"#.07,-&.4"8./0#]5,#

&)"&,#+,#-($,-")#%"#+,-,-&)58&5)"8./0#+,#%(-#]5,#-,#]5,+"0#8(0#50#+5,%(#.)),-5,%&(#$()#%(-#"J(-#+,#

%(-# "J(-2# !(-# ]5,# 0(# A,*(-# 7.7.+(# ,-"# ,<$,).,08."# "8"-(# $(+"*(-# .*"4.0")# %(-# -,0&.*.,0&(-# C#

"&.-6")#,%#$,-")#$,)*"0,0&,2#\(#A"C#85"+)(-#0.# 85)7"-#,-&"+W-&.8"-#]5,#0(-# -.)7"0#$")"#*,+.)#,%#

+(%()#A5*"0(2#R8"-(#%"#$(,-W"#-.)7"#*Y-2"Xh(JH%&'.K"#<<<4"#?BC""

,6"%L%/-'"+%"6."+%-%/3(E/"+%"6.)"I(b.)"+%"P%[/."["Y3%6."["+%6"I%&*./'"+%"Y(3%6."-.*F(1/""

&%:&%)%/-."H/"./-%)"["H/"+%):H1)4"+%)%)-&H3-H&E")H"*H/+'"+%"L(+."[")%"L(%&'/"'F6(J.+.)"."

&%3'/)-&H(&6'" X'" .)W" 6'" +%3(+(%&'/C!" i%&'" )%" &%3'/)-&H[%" )(%*:&%" )'F&%" H/." 5.6-." ]H%" 6.)"

A? Z&H:'"+%"Y:'['"0H-H'K"ZH.-%*.6.!

130

*.&3."%-%&/.*%/-%K"H/."Fc)]H%+."]H%"6.)"+%)J.)-.K":%&'"]H%"-.*F(1/"6.)"*'-(L.".")%JH(&"

.+%6./-%!"

P%)H6-." (/-%&%)./-%"*%/3('/.&"]H%K".6" (/(3(.&" 6.)"%/-&%L()-.)" 3'/"%)-.)"*Hb%&%)K"."

:%).&"+%"]H%")%"6%)"+.F."'-&.)"(/)-&H33('/%)":.&."3'*%/G.&"["%)-&H3-H&.&"6.)":&(*%&.)K"6."

/.&&.-(L.".:H/-."+(&%3-.*%/-%".6")H3%)'"+%"6."+%).:.&(3(E/!"A;""

,/"6.)"+')"*.+&%)"%)"36.&'"3E*'"6."I()-'&(."+%"L(+.K".6":%+W&)%6%)"]H%"+(L(+(%&./")H"

L(+."%/"%-.:.)K")%"3'/L(%&-%"%/"6."I()-'&(."+%")H)"I(b.)"[")%"L./".")H"(/5./3(.K".+'6%)3%/3(."["

.6"*'*%/-'"+%"6."+%).:.&(3(E/!"�)-."%)"H/."+%"6.)"3.&.3-%&W)-(3.)"+%6"&%6.-'"]H%",6(G.F%-I"

n%6(/"(+%/-(5(3."%/"*.+&%)"+%"+%).:.&%3(+')"X%/"%)-%"3.)'".&J%/-(/.)C4"

#!"#"*6.4r,+"+#+,# %"#$(-.8./0#+,#-5D,&(#"8&.7(w"8(*$"J"0&,#(#85.+"+()"#$"-.7"#$5,+,#,0&(08,-#

*"0.',-&")-,#,0#50#8()).*.,0&(#+,#-5#$)($."#.+,0&.+"+?#]5,).,0+(#z0"))")#"%#(&)(y2#t1u#,-&(#.*$%.8"#

50"#,%,88./0#+,#-,)#&,-&.4([(6-,)7"+()"#+,%#$)(&"4(0.-*(#+,#(&)(#B50#A.D(#+,&,0.+([+,-"$"),8.+(?#

$()#,D,*$%(3?#0,4"0+(#(# -.%,08."0+(#,%# &,-&.*(0.(#+,# -5-#$)($."-# 7.7,08."-#{"50]5,#(67."*,0&,#

;-&"-#-,#z85,%"0y#,0#),%"&(-#]5,#"$"),0&,*,0&,#,-&Y0#8,0&)"+(-#,0#%"#,<$,).,08."#+,#(&)(-2#Xn%6(/K"=88#4"#8;C#"

D."/.&&.-(L."+%")H":&':(."L(+.K"]H%":.&%3%"."L%3%)")H"L(+."*()*.K")%"3'/)-&H[%"["&%)(J/(5(3."

.":.&-(&"+%"%)%")H3%)'!"R%":&'/-'":.&."Y3%6.K":'&"%b%*:6'K":&'F.F6%*%/-%"+%"H/")(/5W/"+%"

&%3H%&+')" [" .3'/-%3(*(%/-')" &%6.3('/.+')" ." )H)" I(b')" X-HL'" #=C" HF(3." 3'*'"*'*%/-')"

36.L%)" +%" %-.:.)" +%" )H" L(+." +')K" .*F')" &%6.3('/.+')" 3'/" )H" I(b."m(6+." %/" 6." (/5./3(.K" ["

.*F')" &%6.3('/.+')" 3'/" *'*%/-')" +%" :&%'3H:.3('/%)" 5H%&-%)!" |K" %L(+%/-%*%/-%K"

-.*F(1/"HF(3."3'*'"%L%/-'"36.L%")H"+%).:.&(3(E/!"S/'"+%"%)-')"+')")H3%)')":&(*%&')"%)"

%/"%6"]H%"."Y3%6."^)%"6%":(%&+%")H"I(b."m(6+._":&%3().*%/-%"%/"6."%)3H%6."+%6"T.*:'"0(6(-.&"

O&!" #!" ,/"%)-'"%)"+(5W3(6" /'".)'3(.&" ["%/3'/-&.&"H/" 5H%&-%":.&.6%6()*'"["H/." (&'/W." X]H.)("

:&%*'/(-'&(.C"+%6"5H-H&'")H3%)'"+%"6."+%).:.&(3(E/"X)%").F%"]H%"m(6+."%)-HL'"+%-%/(+."H/"

-(%*:'" %/" %)%" T.*:'" 0(6(-.&C!" D." +%).:.&(3(E/" :')-%&('&" :.&%3%&W." 6." :%).+(66." ]H%" )%"

L'6L(E"&%.6(+.+!"YH/]H%"-.*F(1/K"3'/"%)."&%5%&%/3(."."6.":&(*%&."%2:%&(%/3(."+%":1&+(+.K"

%)-aK" )(/" +H+.K" 3.&J.+." +%" 6." %):%&./G." X3'/" )H" +%F(+." :&':'&3(E/C" +%" -%/%&" H/" 5(/.6"

)(*(6.&4"%/3'/-&.&".")H"I(b.!"

A; ,)-'"-.*F(1/":H%+%"-%/%&"36.&."(/56H%/3(."+%"6."&.GE/"+%"6."%/-&%L()-.K"6."&%5%&%/3(."]H%"*%"66%LE"."*W"."

3'/-.3-.&6.)"."%66.)!",)"+%3(&K"L%/W."+%":.&-%"+%"H/"*(%*F&'"+%",H&%p.K"[":'&"6'"*()*'"%)-.F."3.&J.+."6."-%*a-(3."+%)+%"%6":&(/3(:'!"

131

,6"%L%/-'"+%" 6."+%).:.&(3(E/"+%")H)" 5.*(6(.&%)" 6.)"'F6(J." -.*F(1/"."H/."&%3'/)-&H33(E/"["

&%3'/5(JH&.3(E/"+%6"*H/+'"-&.)-'3.+'4"%/"H/":&(*%&"*'*%/-'K"+%)+%".F.b'K"3'/"%)3.)')"

&%3H&)')"X6%J.6%)K"%3'/E*(3')K")'3(.6%)K"%*'3('/.6%)CK"+%)+%"6."(/3%&-(+H*F&%K"6.")'6%+.+K"

6."(/3'*:&%/)(E/"[")(/"%6".:'['"+%"H/."&%+")E6(+.".")H".6&%+%+'&!",6"I%3I'"+%"/'"%/3'/-&.&"

H/."*.+&%".")H"I(b.K"["+%":%&+%&K"%/"%6"3.)'"+%"Y(3%6.K".")H":&(/3(:.6"&%5%&%/3(.K"3'*:.`W."

[".:'['K"/'":H+'"/'"I.F%&"-&.)-'3.+'"["L'6-%.+'":'&"3'*:6%-'")H"*H/+'"+%"3.F%G.!"D."

&%.6(+.+K")H""*H/+'"+%"L(+.K".)W"3'*'"%66.)"6'"3'/'3W./K"+%bE"+%"%2()-(&!"

"

S,C0">#x#"-W#,*$,=/#%"#A.-&()."#+,#%"#+,-"$").8./0#+,#*.#A.D"2"t1uV,)(#,%%"?#D"*Y-#t1u#-,#-5$(#+,#,%%"#

t1u#x"#0(#"$"),8./#$()#0.04X0#%"+(2#9-(#$"-/#,0#Fiee2#t1u##9%%"#+,-"$"),8./#,%#$).*,)(#+,#D50.(#+,#

Fiee2"XP%[/.K"=8#8C"#

R8,%"># !"# '5,)="# ]5,# -,# +"# 50(# "# 50(#*.-*(# $")"# $(+,)# -,45.)# "+,%"0&,2# V()]5,# ,-#*5C# +.'W8.%2#

L5"0+(#-,#.0.8."?#-.,0&,-#&X#]5,#-,#&,#"8"6"#,%#*50+(2#V()]5,#-.,0&,-#]5,#&(+(-#%(-# %54"),-#-,#&,#

8.,))"02#x#]5,222#+.8,-# &X# H-.#*,#"$(C")"#U5%"0(?# -.#*,#"C5+")"#b5&"0(222K2#V,)(#]5,#0(#7,"-#,-"#

),"%.+"+222#V5,-#+.4(#C(#]5,#A,#-.+(#'5,)&,#$")"#$(+,)#%(4)")%(222#XY3%6.K"=8#8C"#

R.8,%">#:.#7.+"#8(&.+."0"#8"*6./#&(&"%*,0&,2#L"*6./#$()]5,?#"#$")&.)#+,#,-(222#$).*,)(?#$5,-#*,#

-,0&W"222# -,0&W"# ]5,# ,-&"6"# 7.7.,0+(# %"# ),$),-./0# ,0# 8")0,# $)($."2# b,450+(?#*,# -,0&W"# -(%"2#:5C#

-(%"2#V()]5,#$5,-#0(#,-&"6"#"$(C"+"#,8(0/*.8"*,0&,?#0(#,-&"6"#;%?#0(#A"6W"#8(0#]5.;0#A"6%")?#

A"6W"#]5,#,-8(0+,)-,222tE>fE>ogu#\(# &,0W"#50# 8W)85%(#+,#"*.4(-2#\(?# 8(*(#-.# C(# &,#+.D,)"# H(.4"0?#

*.),0#,-&(#C#%(#(&)(K?#0(2#b.,0&(#8),(#]5,#8(*(#50"#-(%,+"+#*5C#'5,)&,222#"045-&."?#+(%()?#*.,+(222#

&(+(#,-(#8(*6.0"+(2#G(+(#,-(#8(*6.0"+(2#MV()]5,#$5,-#A"6W"#+W"-#]5,#C(#*,#-,0&W"#&"0#*"%O#G"0#

*"%222#x(#0(#-"6W"#-.#%%,4")#(#0(#"#%"#8"-"#+,#,-&5+."0&,-2#9)"#$")"#*W#50#&,*()#*5C#4)"0+,#,-&")#,0#

%"-#8,)8"0W"-#+,#%"#8"-"#+,#,-&5+."0&,-2#x(#*,#-,0&W"#50#$(8(#C"#$)(&,4.+"#85"0+(#,0&)"6"2#V,)(#

%%,4")?#$.-")#,-"#Y),"?#,)"#$")"#*W222#*5C#'5,)&,2##XY(3%6.K"=8#8C""

132

#

['.'. :5&+"+(+)&,$5&(!7+")>&5!&OX%f;$,!&+",+*+,;!5&&

"

,/"%6" 3.)'"+%" 6.)"+')"*.+&%)K" 3'*%/GE"H/":&'3%)'"+%"Fc)]H%+." (/+(L(+H.6K" )'6(-.&(.K"H/"

3.*(/'"')3H&'"[" 3'/5H)'K"+(5W3(6"+%" )%JH(&K" 66%/'"+%" -&.F.)K" L.3W'"+%" &%5%&%/-%)K" 66%/'"+%"

)(/)%/-(+')K" 'F)-a3H6')" [" *(%+')d" .+%*a)" +%" -'+'" %)-'K" 3.&%/-%" +%" &%+%)" )'3(.6%)" +%"

3'/-%/3(E/!""

"

z.).+'"%/"6."&%.6(+.+"+%"5.*(6(.)"JH.-%*.6-%3.)K"h(JH%&'.".5(&*."]H%""

!"#*5,)&,#(#%"#+,-"$").8./0#+,#50#-,)#]5,).+(?#,-#7.7.+"#8(0#%"#*.-*"#.0&,0-.+"+#+,#+(%()#,0#&(+(-#

%(-#Y*6.&(-2#B13#t"%450"-#'"*.%."-u#7.7,0#,0#8.5+"+,-#4)"0+,-?#,0#+(0+,#,%#,-$W).&5#+,#8(*50.+"+#

-,#A"#$,)+.+(#C#$()#&"0&(#%(-#%"=(-#+,#-(%.+").+"+#-,#A"8,0#%"<(-#(#+,-"$"),8,02#!"-#8(07,08.(0,-#

-(8."%,-# +,# 8%"-,# *,+."?# ,%# *"0&,0.*.,0&(# +,# %"# "$").,08."?# C# %"# .0,<.-&,08."# +,# -(%.+").+"+,-#

4)5$"%,-#"#*,05+(#8(07.,)&,0#,%#*50+(#+,#%(-#'"*.%."),-#+,%#+,-"$"),8.+(?#,0#50#Y*6.&(#%%,0(#+,#

-(%,+"+2#Xh(JH%&'.K"#<<<4"#;AC""

,)-.)"*Hb%&%)")%"%/5&%/-.&'/"."H/."&%.6(+.+":'3'".)(F6%K"(//'*F&.F6%K"-'-.6*%/-%".b%/."."

)H"*H/+'"3'-(+(./'!"Y/-%"%)-'"%6"3.*(/'"+%6"3E*'":&'3%+%&")%"LH%6L%")(/H')'!"

A($5!>&R>#x#$5,-#'5,#&"0#+.'W8.%#$")"#0(-(&)(-#85"0+(#%(#+,#-5#+,-"$").8./0#$()]5,222#P"#+/0+,#%"#.6"#"#

65-8")#50(T#Pq#"#+/0+,?#(#8(0#]5.;0#%%,4")?#0(T#G(&"%*,0&,#+.'W8.%?#$()]5,222#'5,#50"#8(-"#*5C#

$,-"+"#$")"#0(-(&)(-2#t1uV5,-#0(-(&)(-#,*$,="*(-#"#65-8")#,0#%"-#L)58,-?#,0#%"-#8Y)8,%,-?#,0#

+.',),0&,-222#+,$,0+,08."-2#x#0508"?#0508"#&57.*(-#50"#-(%58./02#

D4"s|"]H(1/%)"(F./".IW"."FH)3.&K"%/"%)%"*'*%/-'t""R># V5,-# *.# ,-$(-(?# 0(-(&)(-?# (# 4,0&,# ]5,# ;%# $"4"6"# $")"# ]5,222# %"# 65-8")"02# x(# '5.# 8(0# *.-#

'"*.%."),-#C#*,#+.D,)(0#H0(?#$5,-#-.#-"6,-#"%4(#+,#,%%"?#0(-#"7.-"-222K2##^0(#7"#8(0#%"#,-$,)"0="#+,#

]5,#H65,0(?#$5,-#&,#7"*(-#"#,8A")# %"#*"0(K2#b,#"8"6"0222# %"-# '"*.%."-222#-,#+,-"$"),8,0#+,#50(2#

\(-# &.,0,0# 8(*(# ),%,4"+(-2# L(*(# ]5,# ,-# 50# +,%.&(# &(+(# %(# ]5,# ,%%"# A.=(?# P0(T# t1uV5,-# 50"#

A,)*"0"# +,#*.#*"*Y?# 8(0# -5# '"*.%."2# x#*.-# A,)*"0(-?# $5,-# &"*$(8(# 0508"2# V5,-# &)"6"D"6"02#

v5,0(?#C(#$(04(#,-,#$,)(?#P0(T#V,)(#t1u#C(#&(+(#,%#&.,*$(#"0+"6"#-(%"2#G(+(#,%#&.,*$(2#XY3%6.K"=8#8C"##C$D"!>&S># x# 50(?# 8(*(# 0(# -"6W"# ]5;# 8%"-,# +,# 4,0&,?# $5,-# 0(-# '5.*(-# "# %"# I,%,4"8./0# R=8"$(&="%8(# "#

%,7"0&")# 50#"8&"# t1u# V5,-# 8(*(#"0+"6"#,-"# 8(-"#]5,#"0+"6"0#"4"))"0+(?# $5,-#]5;#0(-# .6"0#"#

+,8.)?#A"-&"#"A()"#]5,#%(#,-&(C#,0&,0+.,0+(2t1u#0(#-,#0(-#A.=(#8"-(2#x#+,#"AW#,*$,8;#"A()"#-W#]5,#

"#65-8")%(#t-.8u#$()#%(-#),8%5-().(-?#$5,-2#R]5W#,0#,%#\()&,?#q).,0&,?#(&)(#]5,#,-&Y222#$()#%"#LY)8,%#+,#

:5D,),-"Ñ!!!Ö"I,%"??K#eg?#ei?#gf2#\(#+.").(?#t222u#+,#7,=#,0#85"0+(2#x#C"#,0#,%#g`?#85"0+(#C"#,-&"6"#,%#L(*.&;#8(0#S(-").(?#$5,-#C"#*,# .08()$();2#bW?# '5,)(0#50(-222#8(*(#8.08(?#-,.-#"J(-2# t1ux"#0508"?#

0(?# 0(# %%,45;# "# -"6,)# 0"+"2# t1u\(# -;# $()# ]5;#*,# ")).,-4"6"2# @"-&"# "A()"#*,# +"#*.,+(# C# +.4(#

HP$()#]5;222#*,#")).,-4"6"TK#

133

D4"s|".IW"H)-%+"-%/W."%6".:'['"+%".6JH(%/"]H%"6.".[H+.&.t"sQ"."]H(1/".3H+W.t"sQ"H)-%+")%"(F.")'6.t"S>#bW?#0(?#0(#%%,7"6"222#x(#$,0-"6"#,0#*.-#A.D(-?#0(#%%,7")%(-?#$()]5,#0(222#\(*Y-#C(#-(%"#*,#.6"2##

t1ux#85"0+(#C"#-,#'5,#%"#8Y)8,%#+,#*5D,),-#A"-&"#%"#L.5+"+#a")+W0?#A"-&"#$()#c(8A.*.%8(?#t222u#,-&Y#

$,-"+(# ,%# 8"*.0(?# t222u# "AW# C"# .6"# 8(0# *.# A.D"2# !"# ]5,# *,# "8(*$"J"6"# ,)"# V"&).8."2# U5.*(-# "#

d5"+"%"D")"?#"%#q6%"&(-#;-,#]5,#,-&"6"#&"*6.;02#V,)(#0(*Y-#t222u#7.,)(0#,%#),&)"&(#C#*,#+.8,0#H-W?#

,-&"-# $,)-(0"-# ,-&57.,)(0# "]5WK?# +.8,?# H$,)(# C"# +,-$5;-# C"# 0(# -5$.*(-# +/0+,# -,# '5,)(0?# %(-#

-"8")(0#C#-,#'5,)(0#"#-5#8"-"?#(#]5.;0#-"6,2K#XP%[/.K"=8#8C""

,/"Y(3%6." 6."&%.6(+.+"+%" 6')"+%).:.&%3(+')K"./-%)"+%" 6."+%-%/3(E/"+%")H"I%&*./'K"/'"%&."

-./".b%/.!"Y6"L(L(&"%66."%/"6."T.)."+%",)-H+(./-%)K")%"I.FW."%/5&%/-.+'"."6."+%).:.&(3(E/"+%"

+')"3'*:.`%&')!"$.*F(1/"I.FW.".)()-(+'K"3'*'":.&-%"+%6"T'/)%b'"O.3('/.6"+%"T.).)K"."6."

IH%6J."+%"I.*F&%"]H%")%"'&J./(GE"5&%/-%"."T.-%+&.6":'&":.&-%"+%6"%/"%)%"%/-'/3%)"T'*(-1"

O.3('/.6" :&'" R%5%/)." +%" i&%)')K" i%&)%JH(+')K" R%).:.&%3(+')" [" ,2(6(.+')" i'6W-(3')"

XTOiRiiR,iCK" '&J./(G.3(E/"]H%" )%" 3'/L(&-(EK"*a)" .+%6./-%K" %/" %6" T'*(-1" o,H&%p.qK" :.&."

%2(J(&" H/." &%):H%)-." :'&" :.&-%" +%6" Z'F(%&/'" [" 6." :&%)%/-.3(E/" [" 6(F%&.3(E/" +%" '-&')"

bEL%/%)!"V(/"%*F.&J'K"/'"5H%"I.)-."]H%"%66."L(L(E"%6")H3%)'"%/"3.&/%":&':(.K"]H%"%6")%/-(+'"

9'"%6")(/)%/-(+'9"+%"6."+%).:.&(3(E/K".+]H(&(E"/H%L.)"+(*%/)('/%)!"|K"%/"3'/-&.)-%"3'/")H"

./-%&('&"L(+.":'6W-(3."3'/)-./-%*%/-%".3-(L.K"["3'/-&.)-./+'"-.*F(1/")H"3.)'"3'/"%6"+%"6.)"

+')"*.+&%)"]H%"%*:&%/+(%&'/"(/*%+(.-.*%/-%"[")(/":%/).&"6."Fc)]H%+."9)(/"(*.J(/.&"."

]H(1/%)")%"%)-.F./"%/5&%/-./+'9K""%)-%"I%3I'"6.":.&.6(GE"%/"H/":&(*%&"*'*%/-'!"

"

tb,#7"#,0&,)"0+(#,0#,%#8(0&,<&(#+,#%"-#L"-"-#+,#9-&5+."0&,-#+,#%"#+,-"$").8./0#+,#-5#A,)*"0(#C#+,#

+,&"%%,-#),%"8.(0"+(->u#q#-,"?#C(#+,#&(+(#,-(#*,#,0&,)(?#$,)(#C(#0(#-(C#8(*(#%"#]5,#.07,-&.4"222#C(#

-/%(#%(#,-858A(2#x#$")"#,-,#&.,*$(#C(#,-&(C#"-W#*5C2222#C(#+.4(#]5,#"',8&"+"2#t1uV()]5,#,-&(C#"-W#

8(*(222#-.0#-"6,)#]5;#A"8,)2#b.0#-"6,)#]5;#A"8,)222#9-#50#*(*,0&(#*5C#+.'W8.%2#V).*,)(?#$()#&5#,+"+2#

b,450+(?# $()]5,# 0(# ,0&.,0+,-# *58A"-# 8(-"-222# x# &,)8,)(?# $5,-# &,# 8",# +,# -($,&/02# t1uG,# &(8"#

+.),8&"*,0&,2##

#

t1u#I,-$5;-#+,#]5,#-58,+,?#C(#7(C#"#G,8"*"8A"%8(2#x#,0&(08,-?# 85"0+(# %%,4(?#"AW#*,#85,0&"0222#

]5;#,-# %(#]5,#A"6W"#$"-"+(2#x#*.# '"*.%."#,-&"6"222# -.0#-"6,)#]5;#A"8,)2# M\(#-"6W"0222O#x?#"+,*Y-?#

"&,))"+(-2#M^0#*.,+(O#:.#$"$Y#0(#]5,)W"#A"8,)#0"+"2#l%#,)"222#:.-#&W(-#C#*.#$"$Y#,)"0#8(*(#*5C?#

,-&,222# +"+(-# "# "')(0&")# %"-# -.&5"8.(0,-2# V,)(?# -.*$%,*,0&,# C(# 8),(# ]5,# ,%# &,*()?# ,%# *.,+(# %(-#

.07"+./#&(&"%*,0&,2#G(&"%*,0&,2# t1u#@"-&"#]5,#$"-/#,%#&.,*$(222# '5,#"222#$(0,)#50"#+,0508."#"# %"#

V),-.+,08."#:50.8.$"%2t1uU5,#8(*(#"#%(-#+(-#*,-,-2#q#-,"?#$"-/#&.,*$(2#

#

t1u222#0.#-.]5.,)"#,0#%(#$(%W&.8(?#H7"*(-#"#,-&(?#7"*(-#"%#(&)(K222#M\(#-"6W"#]5;#A"8,)O#

\(222#0(#-,#A.=(#*Y-#.07,-&.4"8./02#x"?#%(#]5,#-,#%%,4"6"#"#A"8,)?#,-#"#+(0+,#C(#,-&"6"#t,0#%"#8"-"#

+,# ,-&5+."0&,-u1# 8(*(#4)5$(2# t1uj08%5-(# "%# L(*.&;# +,# %"# b)"2# S(-").(?# $"-/# &.,*$(#$")"#]5,# -,#

*,&.,)"# %"#+,0508."2#\(#-,#A.=(# .0*,+."&"*,0&,2#V()]5,#65,0(?#*.#*"*Y#C#*.#$"$Y?#0.# -"6W"02#

134

tE>f`>`Zu#:.-#A,)*"0(-?#*,0(-2#M!"#X0.8"#]5,#$(+W"#-"6,)#,)"#C(O#Mx#C(#&(+"#.+"O#x#t,0u#%"#8"-"#+,#

,-&5+."0&,-#+,#V5,6%"#t1u#0(?#-.*$%,*,0&,#8(*(#]5,#0(#A"6W"#*"0,)"#+,#+,8.)#H,%#8"*.0(#,-#$()#

"8Y222#9%#8"*.0(#,-#$()#"8YK?#C#&(+(#*50+(222#x(#8),(#]5,?#,0#,%# '(0+(?# %"#8"-"#+,#,-&5+."0&,-#+,#

V5,6%"#&,0W"#*.,+(2#

#

x#C"?#A"-&"#$"-")#,%#&.,*$(?#0.#),85,)+(#,0#]5;#',8A"?#$,)(?#,-&,222#C(#A"6%;#8(0#*.#*"*Y#C#'5,#]5,#

A.8.*(-#%"#+,0508."2#x#%"#*,&.*(-#8(0#%"#b)"2#S(-").(#+,#V.,+)"2#XY(3%6.K"=8#8C""

,/"%6"3.*(/'"+%"Fc)]H%+."(/(3(.6"+%"P%[/."["+%"Y3%6."5H%"]H%"%*:%G.&'/"."^).F%&_"[K"%/"6."

*%+(+."+%"6'":')(F6%K"%/-%/+%&"]H%"%)'"]H%"6%"I.FW.":.).+'".")H)"I(b.)K"-%/W."H/"/'*F&%4"

)H)"I(b.)"%&./"+%).:.&%3(+.)":'6W-(3.)!"$1&*(/'"]H%"/'"5'&*.F.":.&-%"+%")H"F.J.b%"/("+%6"

&%:%&-'&('"+%6"+W."."+W.!"Y":.&-(&"+%"%)%"*'*%/-'K"6.":.6.F&.")%"(*:H)'"[")%"(/)-.6E"%/")H)"

L(+.)" 3'-(+(./.)!" |" ." 6'" 6.&J'" +%" -'+." )H" -&.[%3-'&(.K" [" :&(/3(:.6*%/-%" %/" ,H&%p.K" 5H%"

66%/a/+')%" +%" )(J/(5(3.+'" [" :'3'" ." :'3'" )%" 5H%" %/-%/+(%/+'" XI.)-." +'/+%" %)-')"

5%/E*%/')":H%+%/"%/-%/+%&)%C!"

&A($5!>&&R>#90&(08,-#*,#A"6%"222#50222#50#%.8,08."+(2#Q5,#;%#&)"6"D"6"#,0#LA"$.04(2#L),(#]5,#+"6"#8%"-,-#,0#

LA"$.04(2#V,)(#,)"0#*5C#"*.4(-2#V()]5,#&"*6.;0#8(0#;%#A"8W"#&)"6"D(-2#x#*,#A"6%/#C#$,0-;#HC(#

]5.-.,)"# $%"&.8")# 8(0# 5-&,+K2# x# *,# +.D(# H-W?# 8/*(# 0(K2# V,)(# C"# A"6W"# $"-"+(# C(# 8),(# ]5,# 8(*(#

*,+.(#"J(222# t222u# x# C"#,*$,=/#"#$%"&.8")# C#+.8,# H,-#]5,?# P-"6,#]5;T#Q5,#@.%+"#,-&Y# -,85,-&)"+"?#

,-&Y#+,-"$"),8.+"K2#HPI,-"$"),8.+"TK#V5,-#0(#-"6W"*(-#0"+"2# t222u#x#C"#*,#8(0&/#+,#]5,#"#a5"0#

L")%(-# %(#A"6W"0# -,85,-&)"+(# C# -,# %(#A"6W"0# %%,7"+(?# D50&(# 8(0#(&)(-#+(-#*",-&)(-2# x# %,# +,8W"# C(#

H$5,-#C(#0(#&,0W"#8(0&"8&(#8(0#,%%(-K2#x# %5,4(#(&)"#"*.4"#&"*6.;0?# .45"%2#:,#%%"*/#C#,%%"#8),(#-W#

7.0(#"]5W?#C#C"#,*$,=/#"#$%"&.8")#H,-#]5,#@.%+"#,-&Y#+,-"$"),8.+"2#\(#-"6,*(-#"#+/0+,#%"#%%,7")(0?#

0.#0"+"#+,#,-(K2#V()]5,#"#+(0+,#7.7W"?#-"8")(0#&(+"-#-5-#8(-"-?#C#-,#%%,7")(0#&(+(2#XY3%6.K"=8#8C"&C$D"!&D4"s|"H)-%+"./-%)").FW."]H1"%&."H/"+%).:.&%3(+'K":'&"%b%*:6't"Y/-%)"+%"]H%":.).&."%)-'"3'/")H"I(b.K"sH)-%+"I.FW."'W+'"I.F6.&"+%".6J'".)Wt"S>#v5,0(?#50#+,-"$"),8.+(#]5,#-,#'5,#8(0#,%#0(7.(?#(#]5,#%(#%%,7")(0?#8(*(#"0&,-#-,#-"6W"?#+,#%"-#

&)"&"+"-#+,#6%"08"222#q#+,#;-(-#]5,#,-&"6"0#,0#b"0#U)"08.-8(#+,%#S.08/0?#$,)(#"-W#,)"#(&)"#8(-"2#

V,)(# C"#,0&)"0+(?#$()# ,D,*$%(?# "%%Y# 8(0#S(-").(# C# 7.,0+(# &(+(#,-(?# C"#50(222# ]5,# -(0# 85,-&.(0,-#

$(%W&.8"-2#b(0#85,-&.(0,-#$(%W&.8"-2#PV()#]5;T#V()]5,222#$5,-#,%%(-?#8(*(#+.8,0?#]5,#&,0W"0#-5#$%.,4(#

$,&.&().(#"0&,#,%#4(6.,)0(#+,#]5,222#]5,#,%%(-#$,+W"0#0(#-;#]5;#&"0&"-#8(-"-?#C#,%#4(6.,)0(#$5,-#0(#

%,#45-&"6"#]5,#%(#$),-.(0"6"02#Q5,#$()#]5;#,-(-#*58A"8A(-#$,0-"6"0#,-(2#x#,0&(08,-#$5,-#-"%W"0#

"#),$")&.)#7(%"0&,-?#-"%W"0#"#"$(C")#"#%(-#+,#%"-#'Y6).8"-?#C#,-(#$5,-#'5,#,%#+,%.&(#+,#,%%(-2##

D4" |" :'&" %b%*:6'" )(" ['" 6%" +(J'!!!" ,)" 3'*'" H/." %):%3(%" +%" %b%&3(3('!!!" V(" ['" 6%" +(J'" .)W" ^H/"+%).:.&%3(+'":'6W-(3'_K"sH)-%+"]H1":.6.F&.")%"6%"'3H&&%"]H%"&%6.3('/."3'/"%)'t"S>#t222u#\(#-;#-.#-,"#$()#,D,*$%(#+,#]5,222#,-#50"#()4"0.="8./0#C#+,#]5,#$5,-#-W#&)"&"0#,%%(-#+,#-,)#

$(%W&.8(-2# V()# ,D,*$%(?# ,-&,222# "%# 4(6.,)0(# $5,-# &"*6.;0# +,8%")")-,?# +,# ]5,# ,%%(-# &"*6.;0# &.,0,0#

$(8(#+,#*,*()."?#+,#8,),6)(?#C#]5,#-(0#,-&5+.(-(-?#P0(Tt1uV()]5,#t1u#,%%(-#0(# %,#8(07,0W"t0u#"%#

135

4(6.,)0(2#x(#$.,0-(222#$()]5,#65,0(?#*.#A.D"#-W#%"#0(&"6"#50#$(8(#.0&,%.4,0&,#t222u?#"%4(#"-W?#$,)(#0(#

-;#-.#,-(#-,"#&"*6.;02##XP%[/.K"=8#8C"#

,/" Y(3%6." -.*F(1/" 5H%" +%):H1)" +%" 6." +%).:.&(3(E/" +%" )H" I%&*./'" ]H%" %6" -1&*(/'"

+,-"$"),8.+(#$(%W&.8("3'F&E"'-&'")%/-(+'!"

&A+($5!>&R>#1C"#85"0+(#-,#+"#,-&"#-.&5"8./0#+,#_"%,0&W0?#"#*W#*,222#*,#-()$),0+,#*58A(2#x#$"),8,#]5,#,-#

"AW#+(0+,#C(#,0&.,0+(#%(#]5,#,-2#L5"0+(#C(#*,#,0&,)(?#$()]5,#+,#$)(0&(#,0#*.#8"6,="#,*$.,="0#"#

-5)4.)# .+,"-# +,?# +,# ]5,222# q# -,"?# *Y-# "0&,-?# C(# 0(# ),%"8.(0"6"# &"0&(# +,-"$").8./0# 8(0# &()&5)"?#

+,-"$").8./0#8(0#*"%&)"&(?#+,-"$").8./0#8(0222#\(#%(#),%"8.(0"6"2#x(#"%8"0=(#"#),%"8.(0")%(#85"0+(#

-,#%%,7"0#"#_"%,0&W02#x#]5.=Y-#%(#),%"8.(0(#$()]5,#*,#,0&,)(#8/*(#.6"2#V()]5,#C"#7,-#]5,#"#_"%,0&W0#

-,#%(#%%,7"0#C#%(#),4),-"0##C#7"#*5C#4(%$,"+(?#,0&(08,-#C(#C"#%(#),%"8.(0(2#x?#"%#),%"8.(0")%(?#$5,-#

*,#"&,))"2#x#"AW#,-#85"0+(#,0&.,0+(#,0#]5;#8(0-.-&,#%"#+,-"$").8./02#x#,-,#A,8A(#+,#,0&,0+,)%(?#*,#

"%&,)"?#*,# 8"*6."# &(&"%*,0&,# &(+(2# x# ,0# ,-,#*(*,0&(# $5,-# C(#*,# -.,0&(# &(&"%*,0&,# "',8&"+"2#

MG(&"%*,0&,#"',8&"+"O#x(#,0#,-,#*(*,0&(#C"#-,0&W"#]5,#,)"#$,)-,45.+"?#]5,#*,#7.4.%"6"0?#-,0&W"#

]5,222#*,#.6"0#"#%%,7")?#-,0&W"#]5,#7.4.%"6"0#$()#&(+(-#%"+(-222#L(*(#]5,#C"#50(#,*$.,="#"#4,0,)")#

50"# -,).,# +,# 8(-"-?# ,-&,222# ]5,# &,0W"0# ]5,# 7,)# $),8.-"*,0&,# 8(0# %(# ]5,# ,-&"6"# -58,+.,0+(2#

90&(08,-222#*Y-#"0&,-#0(#%(#A"6W"#,0&,0+.+(2#RAW#%(#,0&.,0+(?#C#7.7(?#C#-W#*,#"',8&"2#L),(#]5,#+,#"AW#

$")"#"8Y?#]5,+(#*")8"+"#&(&"%*,0&,2#XY(3%6.K"=8#8C&&['.'- 9:;0$<!=>&&;"&";$*)&(!7+")'&1e)&$%#Q"&%)5!%a4&&&#I,-$5;-#+,%#-,85,-&)(#+,#*.#A.D"#%"#7.+"#8"*6./2#B13#!(#]5,#*,#A"#-(-&,0.+(#,-&,#&.,*$(#

,-#,%#&)"6"D(#8(0#%"#4,0&,?#%"#%58A"K#

XR'`."n.3'F."V(.*K".3-(L()-."+%6"ZY0A<K"%/"h(JH%&'.K"#<<<4#?AC""

,/"%)-%"./+.&")'6(-.&('"5H%"]H%")%"%/3'/-&.&'/"3'/"'-&.)"Fc)]H%+.)"X'-&.)"6H3I.)CK"["3'/"6'"

]H%K"*a)"-.&+%K")(/").F%&6'K"66%JE"."3'/L%&-(&)%"%/"H/."/H%L."5'&*."+%"L(+.4"

&A+($5!>&R>#10(#-"6W"#C(#0"+"?#A"-&"#]5,#*,#A"6%/#,-&"#9);0+.)"#t"*.4"#+,#-5#A.D"u?#C#C"#*,#+.D(#,%%"#H$5,-#

-.# ]5.,),# C(# %"# %%,7(# 8(0#,-&"# -,J()"?#S(-").(# j6"))"2K#I.8,?# H,%%"# ,-# %"#$),-.+,0&"#+,%# 8(*.&;#]5,#

,-&Y#65-8"0+(#"# %(-#+,-"$"),8.+(-K2#V5,-#$")"#*W#&(+(#,-(#,)"222# M05,7(O#9)"#+.'W8.%222# t222u#V()]5,#

$5,-#0(#-"6W"#C(#0"+"2#x#,-&"6"0#,0#),50./0#C#%%,45;#8(0#,-&"#9);0+.)"2#t1u#b,0&W#',(?#$()]5,?#0(#

-"6,)# 85Y%# ,)"#,%# $)(6%,*"#(# 8/*(# -,#A"8W"# &(+(#,-(?# P0(T#V")"#*W# &(+(#,)"#05,7(2#V()]5,# C(2#

b.,*$),#"0+"6"#C(#8(0#*.#,-$(-(2#x#C"#85"0+(#*,#,*$,=")(0#"#$%"&.8")?#]5,#+,#%"#+,-"$").8./0#

'()="+"?#]5,#%"#v).4"+"#v%"08"222##XY(3%6.K"=8#8C"&&C$D"!>& A<" Z&H:'"+%"Y:'['"0H-H'K"ZH.-%*.6.!

136

RA?# P]5,# 8/*(# 8(0(8W# "# S(-").(T# t1u# V5,-# -"%W"# ,0# %"-# 0(&.8."-?# ,0# ,%# $,)./+.8(?# +,# ]5,# "0+"6"#

65-8"0+(#"#-5#A.D(?#C#*,#$%"&.8"6"0222#I.8,0?#HP$()#]5;#0(#7"-#"#7,)TK#t1u#x"#-,#(W"#]5,#,-&"6"#"%%Y#

,0222# b"0# !Y=")(2# x# C"?# 50# +W"# ]5,# ,-&"6"?# 8(*(# %,# +.4(# ]5,# 7"*(-# t222u# "# %"-# 8Y)8,%,-222#

t.0&,))5$8./0u#x"#+,#.)*,#C(#&"0&(#"#65-8")#,0#%"-#8Y)8,%,-?#8(*(#%,#+.4(?#,0#,%#+,#%"#*5D,)#85Y0&"-#

7,8,-# ,0&)"6"?# C# 8(0# %"# '(&(4)"'W"# *,# +,8W"0# ]5,# "AW# ,-&"6"?# $,)(# ]5,# %5,4(# C"# 0(# %(# 7.,)(02#

t.0&,))5$8./0u#x#85"0+(#'5.#"AW#$5,-#C"#,*$,8;#"#$%"&.8")#"#S(-").(2#x# %,#+.4(#H'WD,-,#]5,#,-&(#*,#

$"-"2#x#C(#$.,0-(#]5,#*.#A.D"#$5,-#,-#%"#*.-*"#8"5-"#8(*(#%"#+,#-5#A.D(?#+,#%(-#]5,#(.4(#A"6%")K?#C#

,0&(08,-#*,#+.D(#H7"C"#"#*.#8"-"#&"%#+W"K?#+.8,2#Hx#"AW#*,#%%,7"#%"-#'(&(4)"'W"-#(#-5#"8&"2#x#C"#5-&,+#

7"# "# -,45.)# %(-# $"-(-222K2# x# C"# ]5,#*,# .08()$();# "AW2# V5,-# ,%%"# C"# "0+"6"2# V()]5,# ,%%"# C"# A"6W"#

,*$,="+(p#,0#,%#ee#'()*")(0#,%#L(*.&;2#x#C"#%%,7"6"0#0(#-;#85Y0&(-#"J(-2##t222u?#8(*(#(8A(#"J(-2#x#

,0&(08,-#C"#,*$,="*(-#"# .)?#"A()"#-W#]5,?#8(*(#%,#+.D,?#"AW#"%#L"*$(#:.%.&")2#RAW#"# %"#+,',0-"#"#

$")")0(-#8(0# %"-#*"0&"-?#"# .)#"%# =/8"%(222#x#$5,-#,%%"#()+,0"6"#"#+(0+,# &,0W"*(-#]5,# .)2#L5"0+(#

d5"+"%"D")"?#.45"%2#XP%[/.K"=8#8C"&

i.&."Y(3%6.K".":%).&"+%"]H%"5H%"*H3I'"+%):H1)"]H%")%"(/3'&:'&E":&':(.*%/-%".6"T'*(-1"

o,H&%p.qK"5H%"R'`."P').&('"NF.&&.K"."-&.L1)"+%")H)"3'/-.3-')"+%"6."T.)."+%",)-H+(./-%)K"."

]H(%/" %66." .3H+(E" :.&." :&'3%+%&" 5'&*.6*%/-%" 3'/" 6." +%/H/3(." [" %6" &%J()-&'" +%" 6."

+%).:.&(3(E/"+%")H"I%&*./'!"T'/"%66."I.FW.")(%*:&%"*./-%/(+'"3'/-.3-'"(/+(&%3-'":'&")%&"

6." T.)." +%" ,)-H+(./-%)" ." 6." ]H%" :%&-%/%3W.K" H/." +%" 6.)" 3'*()('/%)" +%6" h&%/-%" O.3('/.6"

T'/-&."6."P%:&%)(E/K"]H%"P').&('"NF.&&."+(&(JW.!""

"

!>#Px#&X#,0#,-,#*(*,0&(#&,0W"-#8(0&"8&(#8(0#S(-").(?#8(0#I(J"#S(-").(?#(#0(T#

R>#L(0#I(J"#S(-").(?#&(+(#,%#&.,*$(#]5,#,<.-&./#,%#U),0&,#8(0&)"#%"#S,$),-./0?#A"6W"#50"#),%"8./02#

V()]5,#"+,*Y-# -,#"-.-&W"# "# %"# ),50./0#+,%# U),0&,#\"8.(0"%2# V,)(#"AW# C"#0(#"-.-&W"# 8(*(# 8"-"#+,#

,-&5+."0&,-?#-.0(#50"#8(*.-./0#+,%#U),0&,2#x#"AW#"#7,8,-#0(-(&)(-#0(#W6"*(-#$()#,%#$)(6%,*"#+,#%"#

,-85,%"2# t1u# b.# A"6W"# ),50./0?# $5,-#0(-# &)"W"0# %"# .0'()*"8./02# V,)(#0(# t1u# W6"*(-#+.),8&"*,0&,2#

XY(3%6.K"=8#8C###

Y6")%&"*(%*F&'"+%"%)-')"J&H:')"+%"%)-H+(./-%)K"]H%":.&-(3(:.F./""["6H3I.F./K"%/-&%"'-&.)"

3').)K":'&" 6.":&%)%/-.3(E/"+%":%&)'/.)"+%).:.&%3(+.)" X%/-&%"%66.)")H"I%&*./'"y.6%/-W/CK"

Y(3%6." :.&-(3(:.F." %/" 3(%&-." 5'&*." ^:.)(L.*%/-%_" :'&" 16" -.*F(1/!" i%&'" .c/" /'" )%" +.F."

%)-."3'/)3(%/3(."+%"%)-.&"FH)3./+'"[" 6H3I./+'":'&" 6')"+%).:.&%3(+')"X]H%"+%):H1)")W")%"

+.C!",&."%6"*(%+'"%6"]H%"(*:%&.F.!"V(/"%*F.&J'K".":%).&"+%"16K"/'"+%bE"+%"%)-.&":&%)%/-%"

%/"6.)".33('/%)"+%":&'-%)-.!"$%/W.":')-H&.)":'6W-(3.)"36.&.)"]H%"6."'F6(J.F./"%)-.&".IW!"

"

!>#Px#]5;#-.40.'.8"6"#$")"#&.#]5,222#]5,#&X#,-&57.,)"-#8(*(#,0#50"#%58A"222T#b.#6.,0#0(#A"6W"#0"8.+(#&"%#7,=#+.),8&"*,0&,#+,#&.#]5,#-,#%58A")"#$()#_"%,0&W0?t222u#P&X222#]5;#),%"8./0#-,0&W"-#]5,#-,#

137

,-&"6"# ,-&"6%,8.,0+(# 8(0# ;%# ,0# ,-,# *(*,0&(T# PL/*(# 7.7W"-# ,-"# %58A"222T# G"%# 7,=# -.# ,)"# *Y-#

8(%,8&.7"222#(#*Y-#.0+.7.+5"%222#

#

R>#^0#$(8(#8(0#&,*()2#x(#8),(#]5,#8(0#&,*()2#PV()#]5;#8(0#&,*()T#V()]5,#65,0(?#4,0,)"%*,0&,?#

85"0+(#-,#A"8W"0#"8&.7.+"+,-?#-,#$),-,0&"6"#%"#$(%.8W"2#x#,-(#&,#),7.7,#&(+"#%"#),$),-./02#t1u#"#-5#

7,=# 8(*(#8(0#+,8.-./02# t1u#V5,-#$()]5,# &,# ,-&Y0# 7.,0+(?# &,# ,-&Y0# 7.4.%"0+(2# x# -.# A"6W"#*")8A"-?#

$5,-#]5,# %(-#$(%.8W"-?#]5,# %(-#4)"0"+,)(-222# #V()#,D,*$%(?#,0# %(-#+W"-#$).*,)(-#+,#*"C(?#,)"#*5C#

+.'W8.%2#L),(#]5,#,0#&(+(-#%"+(-2#90#,-,#&.,*$(#,)"#+.'W8.%?#$()]5,#A"6)W"#]5,#*,&,)-,#"#%"#*")8A"#

('.8."%?#A"6)W"#]5,#)(*$,)#,%#8,)8(#C#*,&,)-,?#C#-.#6.,0#,-#8.,)&(#]5,#0(-(&)(-#0(#,08"6,=Y6"*(-#

8"-.#0508"?#.6"#05,-&)"#()4"0.="8./0#(#05,-&)"#8"-"#+,#,-&5+."0&,-?#.6"?#C#A"6)W"#]5,#.)#"AW2#x#$5,-#

-W?#,%#*.,+(?#&,*()222#,0#,7,0&(-#"-W#*Y-#"*$%.(-2#x#C"#,0#),%"8./0#"#50#,7,0&(#8(08),&(#+,%#U),0&,?#

]5,#$()#,D,*$%(#A"8W"*(-#50#*.&.0#,0#%"-#8"%%,-?#+,#%(-#"*65%"0&,-?#65,0(?#$5,-#.45"%?#&,*()222t1u#

PQ5;#*,#A"8W"#,-&")#"AWT#V5,-#C(#8),(#]5,#,-#%"222#\(#,-#-/%(#_"%,0&W02#L),(#]5,#0(#,-#-/%(#,%#A,8A(#

+,#$,+.)#%"#%.6,)&"+#(#$),-,0&"8./0#+,#_"%,0&W0?#-.0(#*Y-#6.,0#"AW#C"#-,#.*$%.8"#&5#$)($."#.+,(%(4W"#

]5,# -,# A"# 7,0.+(# '()D"0+(?# &5-# $)($.(-# $).08.$.(-?# &5# 7(8"8./0# (# &5# &,0+,08."# $)(4),-.-&"?#

+,*(8)Y&.8"2#9-(#,-#%(#]5,#-,#7"#$,)'.%"0+(2#XY(3%6.K"=8#8C""

,2.3-.*%/-%"@8".`')"+%):H1)"+%"6."+%).:.&(3(E/"+%")H"I%&*./'")%"%/-%&.K"["+%):H1)"+%"

H/"-(%*:'"+%"I.F%&)%".6%b.+'"+%"6.":.&-(3(:.3(E/":'6W-(3.K")%"%/-%&."+%"H/"%L%/-'"]H%"(F."

."I.F%&"%/"iH%F6.K"["&%)-.F6%3%"%6"3'/-.3-'"3'/"P').&('"NF.&&.>"["3'/"%6"T'*(-1"o,H&%p.q"Y"

:.&-(&"+%"%)%".`'"%)"]H%")%"X&%C(/-%J&."5'&*.6*%/-%!"

138

&

['.'[ U)%&W0+7$0)%&)O%#Q(;5)%&$"&$5&(!7+")>&?$"$7+G)%&1+"#$0")%4&)&1$Y#$0")%4E&

&

CR /C&56325;=7&56@6&S62@C&B3&567826?&

"

i.&." (/-&'+H3(&" H/'"+%" 6')" .):%3-')" (*:'&-./-%)" ." -&.-.&" %/" %)-." -%)()K" ]H%" %)" %6" +%" 6')"

'F)-a3H6')"*a)" (/*%+(.-')"." 6')"]H%"%)-.)"*Hb%&%)" )%"%/5&%/-./"%/" 6."Fc)]H%+."+%")H)"

)%&%)"]H%&(+')""9)'F&%"-'+'"%/"%6"3.)'"+%"6.)"+')"*.+&%)9")%"I.F6.&a"./-%)")'F&%"%6"-%*."

]H%"L(/3H6."6'"]H%"[."%/"%6"T.:W-H6'"=")%"-&.-E"9&%):%3-'"."6.)"&%6.3('/%)"+%":'+%&"%/"6.)"

5.*(6(.)" [" ." 6." 5(JH&." +%6" ^-(6,)"0(_" [" )H)"*,8"0.-*(-# +,# +.-8.$%.0"K" %/3.&/.+." %/" %6"

:.+&%M%):')'9" K" 3'/" %6" )H3%)'" +%" 6." +%).:.&(3(E/" 5'&G.+.4" %6" -%*." +%" 6." 3'%&3(E/" 3'*'"

5'&*." +%" 3'/-&'6" [" +'*(/('" I%J%*E/(3'!" ,/" %)-." :&a3-(3." )'3(.6" X[" :'6W-(3.C" :H%+%"

(+%/-(5(3.&)%" 6." (/-%&b%33(E/" +%" L.&(.)" %)3.6.)" )'3(.6%)!" i'+%*')" L%&" 3E*'" H/." *%+(+."

)()-%*a-(3." &%:&%)(L.K"]H%" &%:&%)%/-."H/.":'6W-(3."+%" -%&&'&()*'"+%",)-.+'K" 5'&*.":.&-%"

+%"-'+'"H/")()-%*.")'3(.6"]H%"6."3&%.K"6.")H)-%/-.K":')(F(6(-."["&%:&'+H3%K"["]H%K"."6."L%GK"

-.*F(1/" %)" &%:&'+H3(+'" :'&" %)-." *()*.!" iH%+%" %/3'/-&.&" %3')K" :')(F(6(+.+%)" [M'"

&%:%&3H)('/%)"%/"%)3.6.)"*%/'&%)!"Y]HW":'+%*')"&%-'*.&"6."(+%."+%"T.6L%(&'"["6."3(-."+%"

h'H3.H6-4" 6.)" &%6.3('/%)" +%" :'+%&" [" +(/a*(3.)" .6" (/-%&('&" +%" H/." 5.*(6(." /'" )'/" *%&.)"

&%:&'+H33('/%)"+%"&%6.3('/%)"]H%")H3%+%/"%/"%)5%&.)"*a)".*:6(.)K"%2-%&/.)"X:'&"%b%*:6'K"

%/-&%",)-.+'"[")'3(%+.+M(/+(L(+H')C!"V'/K"*a)"F(%/K"^%6")H%6'"*'L%+(G'"["3'/3&%-'"Ñ>ÖK"6.)"

3'/+(3('/%)"+%":')(F(6(+.+"+%")H"5H/3('/.*(%/-'!"D." 5.*(6(.K" (/36H)'"I.)-."/H%)-&')"+W.)K"

/'" %)" %6" )(*:6%" &%56%b'K" %6" :&'6'/J.*(%/-'" +%6" :'+%&" +%6" ,)-.+'!" X!!!C" i.&." ]H%" Ñ1)-%Ö"

5H/3('/%" 3'*'" 5H/3('/." %)" /%3%).&('" ]H%" I.[." X!!!C" &%6.3('/%)" +%" +'*(/.3(E/" F(%/"

%):%3W5(3.)" ]H%" -(%/%/" )H" 3'/5(JH&.3(E/" :&':(." [" )H" &%6.-(L." .H-'/'*W._!" Xh'H3.H6-K" %/"

T.6L%(&'K"=88A4"@8C""

"

,/3H%/-&'K":H%)K"@"+(*%/)('/%)"%/"6.)"]H%"6."3'%&3(E/"-(%/%"6HJ.&"%"(*:.3-."%/"/H%)-&')"

H/(L%&)')"%)-H+(.+')4"

! D."+%).:.&(3(E/"5'&G.+."+%":%&)'/.)"3'*'"*%+(+."3'%&3(-(L."+%6",)-.+'!"

139

! D.)"5'&*.)"+%"3'%&3(E/".6"(/-%&('&"+%"6."5.*(6(.!"

! D."6%J(-(*.3(E/"+%"6.)"*%+(+.)"3'%&3(-(L.)"+%6",)-.+'"%/"6."5.*(6(.4"%6"$()#"%4(#-,)Y2#

"

D.":&(*%&."&%:&%)%/-./+'"6."*%+(+."-./J(F6%K"%L(+%/-%K"3W/(3."["+%)/H+."+%"H/":&'[%3-'"

I%J%*E/(3'"+%6",)-.+'4"%6"&%3H&)'"+%"6."3'%&3(E/"3'/-&."-'+'")Hb%-'K"J&H:'K"'&J./(G.3(E/K"

(+%'6'JW."]H%".-%/-."3'/-&."6')" (/-%&%)%)"+%"6."36.)%"+'*(/./-%K"+%"6')"J&H:')"+%":'+%&!"

,/"'-&.)":.6.F&.)K"6."Fc)]H%+."+%"H/"3'/-&'6")'3(.6"."-&.L1)"+%6"3'/-&'6"[".:&':(.3(E/"+%6"

3H%&:'4" %6" 3'/5(/.*(%/-'K" .()6.*(%/-'" [" -'&-H&." 9(6%J.6%)9" ]H%" 6." +%).:.&(3(E/" 5'&G.+."

(*:6(3.!"D.")%JH/+.K"^%6")H%6'"*'L%+(G'"["3'/3&%-'_"+%6"]H%"I.F6."h'H3.H6-K"]H%":')(F(6(-."

%6" 5H/3('/.*(%/-'" +%6" :&(*%&'!" R%" 1)-%" [." )%" I.F6E" %/" %6" T.:W-H6'" =!" |" 6." -%&3%&.K"

:&%3().*%/-%"%)%":H%/-%"*.-%&(.6(G.+'"["'Fb%-(L.+'"%/-&%"%6":&(*%&'"["%6")%JH/+'!"

#

F3# !"# +,-"$").8./0# '()="+"# +,# $,)-(0"-# 8(*(#*,+.+"# 8(,)8.&.7"# +,%# 9-&"+(>#P%):%3-'" ."

%)-%" :&(*%&" /(L%6K" 3'*'" [." )%" +(b'K" )%" -&.-." +%6" 3'/-&'6" )'3(.6" [" 6." (/)-.H&.3(E/" +%" 6."

I%J%*'/W."."-&.L1)"+%"5'&*.)"3'%&3(-(L.)"3'*'"6."5H%&G."5W)(3."X%6"3'/-&'6"+%6"3H%&:'C!",)-."

c6-(*.K".H/]H%"%/"*%+(+."%2-&%*.K"%)"H/."+%"6.)"-./-.)"5'&*.)"3'%&3(-(L.)":.&."(*:'/%&"

6'"I%J%*E/(3'!"P%-'*'".]HW"6."/'3(E/"+%"T'&&(J./"["V.[%&"+%"I%J%*'/W."9]H%"&%3I.G./"6."

(+%." +%" ^3'/)%/)'" (+%'6EJ(3'_9" %/" 6." ]H%" ^%6" :'+%&" +%6" ,)-.+'"+%)3./)." /'" -./-'" %/" %6"

3'/)%/)'" +%" )H)" +'*(/.+')K" )(/'" %/" 6.)" 5'&*.)" [" E&J./')" /'&*.-(L')" [" 3'%&3(-(L')" +%6"

,)-.+'K" ]H%" +%5(/%/" [" 3&%./" 3(%&-')" -(:')" +%" )Hb%-')" %" (+%/-(+.+%)" *(%/-&.)" /(%J./" ["

%236H[%/"'-&')!"X!!!C"%6",)-.+'"6'"6'J&."/'")E6'"."-&.L1)"+%")H":'6(3W."[")H)"%b1&3(-')K")(/'"."

-&.L1)"+%")H)"5H/3('/.&(')"[")H)"&H-(/.)K")H)":&'3%+(*(%/-')"["5'&*H6.&(')"+%" (*:H%)-')K"

6(3%/3(.)"[" &%J()-&')!_" XP')%F%&&[K"%/" n')%:I"["OHJ%/-K"=88=4"=#7C",/"012(3'K"+H&./-%" 6."

'6."+%"&%:&%)(E/"+%"6')".`')"78K"?8"[";8"X["-.*F(1/"%/"6.".3-H.6(+.+K"3'/"3&%3(%/-%"L(J'&"%/"

.`')" &%3(%/-%)C" 6." 3'%&3(E/" 5W)(3." (6%JW-(*.K" .H/]H%" :'&" '-&'" 6.+'" -.*F(1/" 6%J(-(*.+.K"

*.-(G.+.K"+%5'&*.+.K")(6%/3(.+."["/%J.+."%/"+()3H&)')"^'5(3(.6%)_"%"(/)-(-H3('/.6%)K")(JH%"

5H/J(%/+'" 3'*'" %6" :&(*%&" [" :&(/3(:.6" &%3H&)'" +%" 3'/-&'6" )'3(.6" X[" /'" 3'*'" %6" c6-(*'"

&%3H&)'K" 3'*'"*%/3('/."j%F%&" X#<7BC" .6" I.F6.&" +%6" ,)-.+'" [" )H)" -(:')" (+%.6%)C!" ,)" ^%6"

%b%&3(3('" +%6" :'+%&" :H&'" [" )(*:6%" 6'" ]H%" .H-'&(G." [" 6%J(-(*.d" [" %66'" %)" .)W"*%/')" :'&" 6."

140

*./(:H6.3(E/"+%" 6.)"3&%%/3(.)"]H%"."-&.L1)"+%" 6."+%5(/(3(E/"+%" 6')" 6W*(-%)"+%" 6'":')(F6%!_"

XP')%F%&&[K"%/"n')%:I"["OHJ%/-K"=88=4"=@7C",)"3(%&-'"]H%"%)-'":H%+%"L%&)%"%/"/(L%6%)"*a)"

3'-(+(./')"["*%/')"L('6%/-')"X5W)(3.*%/-%C"93H%)-('/%)"6%J.6%)K"FH&'3&a-(3.)K"%-3!9"[K")'F&%"

-'+'K" %/" +()3H&)')" ["*%/).b%)"*%+(a-(3')K" :%&'" /'" +%b." +%" )%&" -.*F(1/" 36.&'" %/" %)-')"

%2-&%*')"+%"3'%&3(E/"X5W)(3.C"]H%"5'&*./":.&-%"+%"6.)"*(3&':'6W-(3.)"+%6"3H%&:'"."6.)"]H%"

P.c6" Z.&3W." X=888C" )%" &%5(%&%" 3H./+'" I.F6." +%" 6')" &%JW*%/%)" +(3-.-'&(.6%)" X%/" Y*1&(3."

D.-(/.C"]H%".3-H.&'/")'F&%"%6"3H%&:'":.&."6'J&.&"%6"3'/-&'6")'3(.6!""

#

E3"!"-#'()*"-#+,#8(,)8./0#"%#.0&,).()#+,#%"#'"*.%.">#|.")%"I.FW."-&.-.+'"%/"%6"T.:W-H6'"="]H%"

%/"%6" 3.)'"+%"%)-.)" -&%)"*Hb%&%)"%2()-%"H/."I()-'&(." 5.*(6(.&"+%"3'/-&'6":'&":.&-%"+%")H)"

:.+&%)"'"-H-'&%)"."-&.L1)"+%"*%+(+.)"3'%&3(-(L.)"+%"+()-(/-')"-(:')!"|"*a)".+%6./-%"%/"6.)"

:.&%b.)" -./-'" +%" P%[/." 3'*'" +%" Y3%6.!" i'+%*')" .J&%J.&K" 3'/" &%):%3-'" .6" :&'3%)'" +%"

Fc)]H%+." [" ." 6." :')-%&('&" :.&-(3(:.3(E/" :'6W-(3." +%" %)-.)"*Hb%&%)" %/" %6" T'*(-1" o,H&%p.q"

]H%K"H/."L%G"*a)K")%"%b%&3%"%)-%"(/-%/-'"+%"3'/-&'6"."-&.L1)"+%6"3'/5(/.*(%/-'K")(%/+'"H/'"

+%"6')".&JH*%/-')"6.")%JH&(+.+K"["%6"'-&'"%6"+%F%&"+%"6."*Hb%&"+%":%&*./%3%&"[".-%/+%&"%6"

I'J.&!",)-'"L."."(/-%&L%/(&"%/"%)-%":&'3%)'"["."J%/%&.&"6.)":&(/3(:.6%)"-%/)('/%)"+%/-&'"+%6"

I'J.&!",)-')" )'/"H/')"+%" 6')"'F)-a3H6')" 3'/-&." 6')"]H%"%)-.)"*Hb%&%)" -(%/%/"]H%" 6H3I.&"

:.&.":'+%&"%)-.&"%/"6."'&J./(G.3(E/d"["6'"]H%"+(5(3H6-.")H":.&-(3(:.3(E/"%/"6."*()*.!#

&

A($5!>&

D4"|"H)-%+")%"(F.")'6.K"%/-'/3%)!!!"R># bW2# L(*(#;%# &)"6"D"6"#+,#0(8A,?# C# %"-#*")8A"-#,)"0#+,# %"-#`#,0#"+,%"0&,222# x"#0.# &")+,# -,#*,#

A"8W"#]5,#-,#'5,)"2#x#"#%(-#*58A"8A(-#50#$(8(#*Y-#4)"0+,-?#$5,-#C"#%,-#,08")4"6"#"#%(-#8A.]5.&(-2#

H:,#&,04(#]5,#.)K2#x#C"#*,#.6"2#V,)(#-W?#8(0#*58A(#*.,+(2#x(#7,W"#$"&)5%%"-#D50&(#+,#0(-(&)(-#C#C(#

-,0&W"#]5,#*,#+,&,0W"02#bW2#x#$5,-#"-W#'5,#8(*(#,*$,8;#"#$")&.8.$")#,0#,%#L(*.&;2##

D4"|K":'&"%b%*:6'K"%)'"+%"]H%"H)-%+").6(%&.!!!"i'&]H%K"s3.+."3Ha/-'")%" (F.K"'"3.+."3Ha/-'").6W."."*.&3I.)t"R># V5,-# 85"0+(# 0(-# %%"*"6"02# L5"0+(# A"6W"# %"-# *")8A"-?# (# -5-# +W"-# ,-&(-# +,# "0.7,)-").(# ]5,#

8,%,6)"6"0#C#&(+(#,-(?#,)"#85"0+(#W6"*(-2#q#]5,#A"6W"#"%4X0#*.&.0222#!(#]5,#-W?#0508"#-"%W#"'5,)"2#

G(+(# '5,# +,0&)(# +,222# +,# "]5W# +,# %"# 8.5+"+2# bW?# $()]5,# $5,-# ]5,# -,# .6"0# "# d5,)),)(?# "222# $5,-# "#

+.',),0&,-#%54"),-222#0(?#0(#*,#+,D"6"02#!,#+,8W"#H9-#]5,#7"*(-#"#&,0,)#]5,#.)#"#7,)#"%#V),-.+,0&,#

$")"# 85"%]5.,)# 8(-"K2# HM\(O# x# &X# ]5;# 7"-# "# A"8,)# "%%Y222# RA().&"# ,-# ,%%"# C# "%# )"&(# 7"-# "# -,)# &X#

&"*6.;02K#XY3%6.K"=8#8C""#

&

141

C$D"!>&!>#Px#0(#A"6W"#8(*(#$)(6%,*"-#"]5W#,0#%"#8"-"#+,#]5,#+.D,)"0#H"C?#$()#]5;#"0+"-#-"%.,0+(222K#

S>#V5,-#-W?#$5,-#-.,*$),#*,#+,8W"#;%2#V,)(#%,#+.4(#H$5,-#"A()"#-W#]5,#0(#$5,+(?#0(#$5,+(#,-&")#"-W?#

0,8,-.&(#-"6,)?#0,8,-.&(222K2#Hv5,0(?#C"?#$5,-#7,2K#XP%[/.K"=8#8C""

|".H/]H%"P%[/."+%bE"+%"(&"*H[":'3.)"L%3%)"."+'/+%"%66.")%":&':'/W."(&"3'/"%6"T'*(-1K"%)-'"

-HL'"3')-')"["3.H)E"5H%&-%)"-%/)('/%)"%/")H"I'J.&4"

"

tR%#$),450&")%,#-(6),#%"-#+.'.85%&"+,-#"#%"-#]5,#-,#,0'),0&/#,-&"0+(#,0#,%#L(*.&;>u#

#S>#:A222#$5,-#%"-#8(-"-#+.'W8.%,-#$5,-#'5,#50#$(8(#,%#"6"0+(0(#+,#%"#8"-"?#-"%.)#'5,)"-?#$5,-#50#$(8(#

&"*6.;0#+,#&,0,)#$)(6%,*"-#"8Y?#(222#V5,-#C"#,)"0#8(-"-#]5,#+,8W"0#]5,#C"#*,#45-&"6"#0(*Y-#-"%.)#

C#]5,#"6"0+(0")"#"#*.-#A.D(-#(#,-(2##

S>#v5,0(?#$()#,D,*$%(?#85"0+(#0(#,-&"6"#+,#65,0"-#,%#$"$Y#+,#*.#A.D"?#*,#+,8W"#H$5,-#,%%"#-,#%(#

65-8/?#$5,-#I.(-#-"6,#$()#]5;222#GX#$"h#]5;#7"-?#(#7"C"0#"#A"8,)#"%4(#"#5-&,+,-K?#+.8,?#H$()#]5;#-,#

")).,-4"02K#V5,-#"-W?#+,#,-,#&.$(#+,#$)(6%,*"-222#+,#8(-"-#]5,#0(#+,D"6"0#+,#+,8.)2##

!>#Px#]5.;0,-#+,8W"0#,-(T#Pb5#,-$(-(T#

S>#:.#A.D(#50"-#7,8,-?#,%#,-$(-(#&"*6.;0222#x#-.,*$),#0(#&(+(#,)"#65,0(?#-.0(#]5,#&"*6.;0#,)"#50#

$(8(#+,#$),-./02#XP%[/.K"=8#8C"&

@C"!"# %,4.&.*"8./0#+,# %"-#*,+.+"-# 8(,)8.&.7"-#+,%# 9-&"+(#"%# .0&,).()#+,# %"# '"*.%."># ,%# H$()#

"%4(#-,)YK>##

#

S/."L%G"]H%"%6"(/-%/-'"+%"3'/-&'6"["+'*(/('"^5.66._"%/"%6")%/'"+%6"I'J.&K")%"&%3H&&%"."'-&.)"

*%+(+.)!"

&

,/" %6" 3.)'" +%" Y3%6." I.[" H/" c6-(*'" (/-%/-'" +%6" :.+&%" +%" ^+%-%/%&_" ." )H" I(b." X./-%" )H"

(/*(/%/-%" (/+%:%/+%/3(."[" 6."3'/)-&H33(E/"+%":&'[%3-')":&':(')K" -./-'"+%":.&%b.K"3'*'"

+%"W/+'6%")'3(.6"[":'6W-(3.C4"

"

!>#P90&(08,-#"AW#,*$,=/#"#&,0,)#$)(6%,*"-#8(0#-5#$"$YT#

R>#bW2#V()]5,#0(#%,#45-&"6"#"#;%#]5,#-,#'5,)"2#I,8W"#H-W#7"-?#$,)(#&,#),4),-"-2#\(#&,#7"-#"#]5,+")K2#x#

%%,4/#50#*(*,0&(#,0#]5,# %,#+.D(#H0(?#P-"6,-#]5;T#\(#7"-#"# -"%.)2K# HPV,)(#$()#]5;TK#HV()]5,#0(#

,-&Y#6.,0# %(#]5,#,-&Y-#&X#A"8.,0+(K2#x#,%%"#+.-85&W"#8(0#;%2#H\(?#,-#]5,#&X#,),-222#+,# %(-#8"$"&"8,-#

]5,#&,#45-&"#&)",)#"#%"#4,0&,222#x"#0"+"#*Y-#%(#]5,#&,#A"8,#'"%&"#50#8A.8(&,#$")"#$(+,)#*"0+")#"#&5#

4,0&,2K#V()]5,#8(*(#;%#C"#,)"#D,',#,0#50"#,*$),-"#C#&(+(#,-(222#I,8W"#]5,#%(-#$).-.(0"6"#*58A(2#

XY3%6.K"=8#8C###

142

"

|" .3H+%/K" %)-')" b%5%)" +%" 5.*(6(.K" ." '-&.)" (/)-./3(.)" +%" H/" '&+%/" +%" .H-'&(+.+" )H:%&('&4"

FH)3./" ]H%" %6" ,)-.+'" [" )H)" (/)-./3(.)" X3H%&:')" :'6(3(.6%)K" %-3!C" -%&*(/%/" +%" I.3%&" %6"

-&.F.b'"]H%"%66')"%*:%G.&'/"["/'":H+(%&'/"-%&*(/.&K"^.":%).&"+%")H)":%).&%)_!",)-'"c6-(*'"

/'":'+&W."+.&)%"+%"/'"I.F%&"H/"+()3H&)'"(/5(6-&.+'"["&%:&'+H3(+'".6" (/-%&('&"+%"6."5.*(6(."

]H%" 6%J(-(*%" [" .3%:-%" 6.)" &.G'/%)" [" 6.)" *%+(+.)" +%" 3.)-(J'" +%6" ,)-.+'K" +%" /'" %)-.&"

.)%/-.+'"%6"+()3H&)'K" 6."&%:&%)%/-.3(E/"+%" 6."*'L(6(G.3(E/"'" 6H3I.")'3(.6"\"[" 6'"&%6.-(L'"."

%66.9"3'*'"3&(*%/!""

"

,6"%):')'"+%"Y3%6."&%3H&&(E"."6.".[H+."+%":'6(3W.)"XbH+(3(.6%)C"]H%"-&.F.b.F./"%/")H"*()*."

%*:&%).4"

&A($5!>&R>">;%#"4"))/#C#*,&./#"4,0&,-#$")"#65-8")%"2#t222u#x#$%"&.8/#8(0#,%#$(%.8W"#+,#%"#,*$),-"2#x#+.8,#H0(?#

"# &5#A.D"#C"#-,# %"# %%,7")(0#"#(&)(# %"+(K2# # t222u# Hx(# &,#7(C#"#"C5+")#8(0#50(-# D5+.8."%,-#C#,%%(-# &,# %"#

&)",0K2#x#$5,-#;%#,-&"6"#$"4"0+(2#x#C"# %5,4(# %,#+.D,)(0# t%(-# D5+.8."%,-u#H0.# &,#$),(85$,-?#C"#0(# %"#

65-]5,-2#R#&5#A.D"#-,#%"#%%,7")(0#"#L56"2#RAW#%"#,-&Y0#"+.,-&)"0+(2#q#-,#%"#%%,7")(0#"222K2#Q5.;0#-"6,#

]5;#&"0&(-#%54"),-#+.D,)(02#R#L(%(*6."?#(#]5.;0#-"6,#+/0+,2#Hx#-W?#"%%Y#%"#,-&Y0#,0&),0"0+(?#$()]5,#

,-#+,#%"#45,)).%%"K2#t222u#x#C"#7.0(#C#*,#+.8,#HPb"6,-#]5;T#x"#0.#%"#65-]5,-2#9%%"#-,#%(#65-8/K2#!%()"6"#

*58A(#;%2#x#C"?#,-&,222#$5,-#C(#-W#-,45W"?#P0(T#XY3%6.K"=8#8C""

,/"%6"3.)'"+%"P%[/.")%"*./(5(%)-."%)-'"c6-(*'"*H["36.&.*%/-%4"%)":&%3().*%/-%"%6"*.&(+'K"

%6":&':('":.+&%"+%"N&*.K"]H(%/"%/".6Jc/"*'*%/-'"66.*."."6.":'6(3W.":.&."%/-&%J.&".")H"I(b."

:'&]H%"./+.F."%/"^*.6')":.)')_!"i.&."P%[/."J&.3(.)"."16"6.":'6(3W."HF(3E".")H"I(b."[":'3'"

+%):H1)" 6." +%).:.&%3(%&'/!" D.)" 3'/)%3H%/3(.)" ]H%" %)-%" %L%/-'" +%-'/E" /'" 5H%&'/" :'3'"

)(J/(5(3.-(L.)!"iH%+%"+%3(&)%"]H%"%)"%6"I%3I'"*()*'"+%"6."+%).:.&(3(E/"["6.)"+():H-.)"]H%"."

&.WG"+%"%66.")H&J(%&'/K"H/":.&-%9.JH.)"%/"6."I()-'&(."+%"%)-."5.*(6(.!"�)-."]H%+.K"%/":.6.F&.)"

+%"H/."+%"6.)"I(b.)"+%"P%[/.78K"+(L(+(+.!"

""

$.*F(1/"%6"*.&(+'"+%"Y3%6."bH)-(5(3."[")%"%2:6(3."6."+%).:.&(3(E/"+%")H"I(b.".":.&-(&"+%"%)-')"

+()3H&)')" 3&(*(/.6(G.+'&%)!" ,)-'"c6-(*'" )%" &%6.3('/."+(&%3-.*%/-%" 3'/"%6" -%&3%&"/(L%6" +%6"

78 ,)-."c6-(*."(/5'&*.3(E/"5H%"'F-%/(+."."-&.L1)"+%"H/."%/-&%L()-."(/5'&*.6"3'/"H/."+%"6.)"I(b.)"+%"P%[/.K"

]H%"-%/W."#@".`')"+%"%+.+".6"*'*%/-'"+%"6."+%).:.&(3(E/"+%")H"I%&*./.!"

143

]H%"I.F6.*')4"6')":.+&%)K"5(JH&.)"+%".H-'&(+.+"["&%):'/).F6%)"+%6"3'/-&'6"+%6"I'J.&K")'/K"

.6" bH)-(5(3.&" [" %2:6(3.&" 6." +%).:.&(3(E/" +%" )H)" I(b.)K" '" .6" .3H+(&" ." 6.)" (/)-./3(.)"

JHF%&/.*%/-.6%)" :.&." 3'/-&'6.&" ." 6.)"*()*.)K" +%" .6JH/."*./%&." 3E*:6(3%)" '" :.&-%" +%"

%)-."*()*." 6EJ(3."+%"3'/-&'6":'&"*%+('"+%" 6."3'%&3(E/d" -.*F(1/"-(%/%"]H%"L%&"%)-'K"." 6."

L%GK"3'/"-'+'"%6"+()3H&)'"+%"6."3&(*(/.6(G.3(E/"+%6".3-(L()*'"'"+%"6."6H3I.")'3(.6%)!"R%"%)-'"

)%"I.F6.&a"."3'/-(/H.3(E/!"

&

GR /C&52;@;7C?;PC5;=7&B3&?C&?A5:C&<65;C?&

"

V("6.":1&+(+."+%"H/"5.*(6(.&K"["*a)"%/"%)-')"-1&*(/')"+%"L('6%/3(."%"(/3%&-(+H*F&%"9]H%")%"

+./" %/" 6." +%).:.&(3(E/" 5'&G.+.9K" %)" %/" )W" *()*." )H*.*%/-%" +(5W3(6" +%" )'F&%66%L.&" ["

%/-%/+%&K"["-(%/%"3'/)%3H%/3(.)"+%-%&*(/./-%)"%/" 6."L(+."+%" 6')"5.*(6(.&%)K"I.["-.*F(1/"

'-&'".):%3-'"]H%":%)."%/"6."L(+."+%"1)-')"["-(%/%"*H3I'"]H%"L%&"3'/"H/"+()3H&)'"(/5(6-&.+'"

+%"3'/-&'6"+%6",)-.+'"]H%")%"6'J&E"."-&.L1)"+%"6'"]H%")%"+%3W."[")%".3.66.F."%/"6')"*%+(')"

+%"3'*H/(3.3(E/!"i'&"H/"6.+'")(6%/3(./+'K"/%J./+'"6')".3-')"+%"L('6%/3(."%)-.-.6"[K")'F&%"

-'+'K")(6%/3(./+'"["+%)L(&-H./+'"6')"*EL(6%)"+%"6H3I."+%".]H166')"(/3'/5'&*%)!",)K"%/"%)-%"

)%/-(+'K"6."3&(*(/.6(G.3(E/"+%"6."6H3I.")'3(.6"H/."+%"6.)":&(/3(:.6%)"%)-&.-%J(.)":.&.K":'&"H/"

6.+'K" '3H6-.&" [K" :'&" %6" '-&'K" 6%J(-(*.&" +%).:.&(3('/%)K" %/3.&3%6.*(%/-')K" *.).3&%)" ["

3H.6]H(%&"-(:'"+%"*%+(+."&%:&%)(L.!",6"5.*')'"^.6J'"I.F&a"I%3I'_"+%6"]H%"T.6L%(&'"X=88#C"

I.F6." %)" %6" &%)H6-.+'" +()3H&)(L'" *.-%&(.6(G.+'" %/" 6." )'3(%+.+!" ,)" *a)" 5a3(6" ]H%" H/."

)'3(%+.+")%"%2:6(]H%"%)-%"-(:'"+%".33('/%)K"6."*.['&W."+%"6.)"L%3%)"(/3'*:&%/)(F6%)":'&"6'"

3&H%6" %" (6%JW-(*'K" +%)IH*./(G./+'" [" 36.)(5(3./+'" .6" :&%)'K" .6" +%).:.&%3(+'K" .6" .)%)(/.+'"

3'*'" H/" 3&(*(/.6K" 3'*'" H/" +%)L(.+'K" 3'*'" H/" .J%/-%" +%" )H" :&':('" +%)-(/'" ]H%K" :'&"

+%3()(E/":&':(.K"-%&*(/E"+'/+%"-%&*(/E!"V%"%/3.&/."["&%3.%"6."3H6:."+%"6'".3'/-%3(+'"%/"

]H(%/K" +%)+%" 3H.6]H(%&" :H/-'" +%" L()-." +%" 6')" +%&%3I')" IH*./')" 9[" +%" 6." bH)-(3(.K" %/" %6"

)%/-(+'"*a)".*:6('9K"%)"6."LW3-(*.!7#"

"

7# T.F%".36.&.&"%6"-1&*(/'"+%"LW3-(*.4"/'"*%"&%5(%&'"."H/."LW3-(*."]H%"/'"%)"+H%`."+%")H)".3-')"["]H%"/'"

).FW."6'"]H%"I.3W.!""

144

D."+%)IH*./(G.3(E/"+%6"^%/%*(J'_"bHJEK":'&"-./-'K"H/":.:%6"5H/+.*%/-.6"%/"6."%)-&.-%J(.d"

)%" -&.-.F." ." 6')" +()(+%/-%)" 3'*'" %/%*(J')" +%" JH%&&.K" 3'*'" H/" 3a/3%&" ." )%&" %2-(&:.+'d"

I.FW."H/":.3-'"+%"(*:H/(+.+"%/"%6"3H.6"%6"5(/":&':H%)-'":%&*(-W."."5H/3('/.&(')"+%6",)-.+'"

9'"+%" 6')" J&H:')"+%":'+%&" 9" 3'6'3.&)%":'&" %/3(*."+%" 6." 6%[K" [" )%" 3'*%-(%&'/" X3'*%-%/C"

3&W*%/%)" +%# 6%)." IH*./(+.+" (*:H/%*%/-%K" )(/" bH(3('" (/-%&/'" /(" %2-%&/'!" XP'b.)K" =887C"

$'+'" %/" /'*F&%" +%" 6." :.G" )'3(.6K" ]H%" F(%/" +(3%" 0'/-%*.['&K" )%" 3'/5H/+%" X+%)+%" %6"

+()3H&)'"'5(3(.6C"3'/"6."%)-.F(6(+.+"[".H)%/3(."+%"(/3'/5'&*(+.+")'3(.6!"V(%/+'"6."L('6%/3(."

(/)-(-H3('/.6(G.+." /.-H&.6(G.+." [" 3'-(+(./.K" )%" (/-%&:&%-." :&%3().*%/-%" 3'*'" H/."

%)-.F(6(+.+" [" H/." )H%&-%" +%" :.G" )'3(.6!" |K" +%)+%" %)-%" :H/-'" +%" L()-.K" 3H.6]H(%&" -(:'" +%"

:&'-%)-.K" ]H%" L.[." %/" 3'/-&." :&%3().*%/-%" +%" %)-." L('6%/3(." (/)-(-H3('/.6(G.+.K" %)"

36.)(5(3.+."[":&%)%/-.+."I.3(." 6.")'3(%+.+K"3'*'".]H%66."]H%".-%/-."3'/-&." 6.":.G")'3(.6!"

,/"%)-%")%/-(+'"%)"]H%")%"3&(*(/.6(G."6.":&'-%)-."[")%"&%3H&&%K"3'*'")'6H3(E/"(/*%+(.-."["

bH)-(5(3.+.K"."6.".:6(3.3(E/"+%"*%+(+.)"c/(3.*%/-%":'6(3(.3.)"'"*(6(-.&%)K"3'%&3(-(L.)!"

D."+%).&-(3H6.3(E/"+%"6'"*.3&'K"%)-&H3-H&.6"X6'":'6W-(3'K"6'"%3'/E*(3'K"6'")'3(.6C"["%6"

(/+(L(+H'K" [" &%)H6-.+'" +%" %66'K" 6." 3H6:.F(6(G.3(E/" +%6" (/+(L(+H'" (/3'/5'&*%" [" +()(+%/-%"

3'/3%F(+'" 3'*'" %/-%" .()6.+'K" ^6'3'_K" ^%/5%&*'_K" ^+%)L(.+'_K" .)H*(+'" 3'*'" :%6(J&')'K"

&%:&%)%/-."H/.":'6W-(3."3H6-H&.6"+%" 6%J(-(*.3(E/"+%6",)-.+'"+%"6."L('6%/3(."%b%&3(+.")'F&%"

%)-')" c6-(*')!" R(3I." :'6W-(3." 3H6-H&.6" /'" :H%+%" +%b.&" +%" .)'3(.&)%" /(" +%b.&" +%" :%/).&)%"

3'*'"&%G.J')"+%" 6."*%/-.6(+.+"+%")(J6')":.).+')d"+%)+%" 6.)"F&Hb.)"]H%*.+.)K" 6')" 6'3')"

%/3%&&.+')K"I.)-."%6"*'*%/-'""XxNxC"%/"]H%K"%/"-1&*(/')"+%"6%J()6.3(E/":%/.6K"^*a)"]H%"

+%-%/%&)%"%/"%6"-%*."+%"6."+%5%/).")'3(.6K"6.)"&%5'&*.)".:H/-./".6"(/+(L(+H'K"[".6"&'6"]H%"

:H%+%/" +%)%*:%`.&" 3'*'" )Hb%-')" :%6(J&')')!_" XT.b.)K" =88<4" =#C" ,)" %)-." :%6(J&')(+.+"

.-&(FH(+.".6" (/+(L(+H'" 6."]H%"h'H3.H6-"3'/)(+%&EK":&'51-(3.*%/-%K"3'*'"%6"+%-'/.+'&"+%"

H/." :'6W-(3." F.).+." %/" L(J(6.&" [" 3.)-(J.&4" ^%6" :&'3%)'" +%" +()3(:6(/." '" +'*." )'3(.6"

+%)3./).&a" %/" 6'" )H3%)(L'" %/" 6." H-':W."+%"z%/-I.*4" %6" :./':-()*'!" ,6" :./E:-(3'" %)" H/"

+()%`'".&]H(-%3-E/(3'"]H%")%"F.)."%/"6."(+%."+%"H/"L(J(6./-%"]H%"6'"L%"-'+'")(/")%&"L()-'!_"

,/" :&(*%&" 6HJ.&" %6" ,)-.+'" )%" 3'/L(%&-%" %/" %)-%" L(J(6./-%" [K" .6" *()*'" -(%*:'K" %2:6'-.K"

*./(:H6."["H-(6(G."+()3H&)(L.*%/-%"%)-." (+%."+%6"^(/+(L(+H'":%6(J&')'_".")H" 5.L'&!"|.")%."

5H%&."'"+%/-&'"+%"6."6%[!"

145

hH%K":H%)K"]H%"." -&.L1)"+%" 6')"*%+(')" )%" 3'/)-&H[E" 6." (*.J%/" ^+%*'3&a-(3._"+%6"

,)-.+'" [" +%" )H)" ^%/%*(J')_K" '" 6')" ^%/%*(J')_" +%" 6." )'3(%+.+" 3(L(6K" +%)6(/+.+." 3.)(" :'&"

+%5(/(3(E/"+%"-'+'".3-'"+%":&'-%)-.")'3(.6"'":'6W-(3.7=d"["%)-'")(&L(E"3'*'".&*."+%6",)-.+'"

:.&." %/5&%/-.&" 3H.6]H(%&" -(:'" +%" )HF6%L.3(E/4" ^6." 36./+%)-(/(+.+" Ñ*58A"-# 7,8,-# X0.8"#

"%&,)0"&.7"Ö" )%" 3'/L(&-(E" %/" H/" bH%J'" ." *H%&-%K" +'/+%" 6." .:H%)-." +%6" )()-%*." 5H%" ."

%6(*(/.&6.K".6"J&.+'"(/36H)'"+%"]H%"/(")(]H(%&."6%"&%3'/'3(E"3'*'"3'/-&(/3./-%K")%"6%"&%+Hb'"

." 6."/'-." &'b.K".6":6./'"+%" 6."+%6(/3H%/3(.K"%)3.-(*./+'"3H.6]H(%&" &%5%&%/3(."]H%" -HL(%&."

]H%"L%&"3'/"6.)"+%*./+.)")'3(.6%)K":'6W-(3.)"'"%3'/E*(3.)K"[":.&."%66'"6.":&%/).K"6."&.+('"["

6."-%6%L()(E/"+%"6."1:'3.K":%&*(-W./"%6"3'/-&'6"+%6"(*.J(/.&('"3'6%3-(L'K"+%6"3'/)%/)'K"+%"6."

/%J.3(E/"I()-E&(3.!_"XZ6'3p/%&K"=88?4"#7BC2"P%-'*%*')"6."3(-."+%"T.&6')"0'/-%*.['&4"

#1.08%5-(#,0#$"W-,-#]5,#$(+)W"*(-#8(0-.+,)")#8(*(#-(8.,+"+,-#+,#0()*"%.+"+#+,*(8)Y&.8"?#"#-"%7(#

+,#$)(8,-(-#+,#,<8,$8./0#8(*(#%"-#45,))"-#8.7.%,-#(#%(-#4(%$,-#+,#9-&"+(?#-5)4,#50"#,-&)"&,4."#+,#

45,))"##$")"#,0'),0&")#('.8."%*,0&,#+.-&.0&(-#*(*,0&(-#C#*(+"%.+"+,-#+,#%"#.08(0'()*.+"+#-(8."%2#

L(0#,%#'.0#+,#0(#]5,+")#-5D,&(-#"#50#()+,0#%,4"%#.0&,)0"8.(0"%mZ?#%(-#-58,-.7(-#4(6.,)0(-#*,<.8"0(-#

A"0#-56-5*.+(#"#%"#45,)).%%"#8(*(#+,%.085,08."?#0(#8(*(#45,))"#8(07,08.(0"%2#90#,-&"#$,)-$,8&.7"?#

,0# 50#$"W-# ]5,#$(+,*(-# ),8(0(8,)# 8(*(#+,#0()*"%.+"+#+,*(8)Y&.8"?# C# ]5,#"0&,# %"# .0-5)4,08."#

)5)"%#(#,%#8).*,0#()4"0.="+(?#0(#+.4"*(-#C"#"0&,#%"#.08(0'()*.+"+#-(8."%#0(#")*"+"?#-,#,-$,)"#]5,#

"8&X,#+,#"85,)+(#8(0#-5-#$)($."-# %,C,-?#8(0'()*,#"#+,),8A(# B2223#,%#"))"-"*.,0&(#+,# %"-# %,C,-?#-5#

*"0.$5%"8./0## $(%W&.8"#C#),$),-.7"?# %"#"05%"8./0#+,%#+,),8A(#*.-*(#$()#%"#7.(%,08."#+,#9-&"+(?#,-#

50#),&)(8,-(#-(8."%?#,-#50"#A,).+"#,0#,%#&,D.+(#+,#%"#-(8.,+"+#]5,#0(#8.8"&).="?#]5,#$,)*"0,8,#8(*(#

50"# *")8"# .0+,%,6%,# +,# %"# .*$,)',88./0# C# "))(4"08."# $(%W&.8"# +,# 50# 9-&"+(# 8(0&)"# -5# $)($.(#

$5,6%(2K#X0'/-%*.['&K"=8#84"=B?C"#"

D." 3&(*(/.6(G.3(E/" +%" 6." (/3'/5'&*(+.+" )'3(.6" /'" )E6'" )%" I.3W." ." -&.L1)" +%" 6')" *%+(')"

(/5'&*.-(L')K" )(/'" ." -&.L1)" +%" 3(%&-.)" 6%[%)" 5'&*H6.+.)K" 3'/" -'+." (/-%/3(E/K"

.*F(JH.*%/-%!"X0'/-%*.['&K"=8#8C"

Y)WK":H%)K" 6."%)-(J*.-(G.3(E/"+%6".3-'&":'6W-(3'K"+%6" 6H3I.+'&")'3(.6K"+%6")HFL%&)(L'K"

+%" .]H%6" ]H%" 6H3I." :'&" )H)" +%&%3I')K" 3'*'" ^+%6(/3H%/-%_K" ^-%&&'&()-._K" ^&%L'6-')'_K"

^FH)3.9:&'F6%*.)_K"^J&(66'_K"^:&'L'3.+'&_K"^/.&3'-&.5(3./-%_K"-.*F(1/"%)"H/":&'+H3-'"+%6"

7=" R%)+%"*(":H/-'"+%"L()-.K"6."(+%."+%"H/.")'3(%+.+"3(L(6"^(/'3%/-%_"%)".]H%66."]H%"/'"-(%/%"/.+."]H%"L%&"

3'/"6.":'6W-(3."X]H%"6."%/)H3(.&W.C!"VE6'"%)-%"-(:'"+%":'F6.3(E/":H%+%"3'/L%&-(&)%"%/"L%&+.+%&.)"LW3-(*.)"+%"3&W*%/%)!"i'&"'-&'"6.+'K":%&'"+%/-&'"+%"%)-."*()*."6EJ(3.K".".]H%66')":'6W-(3.*%/-%".3-(L')")%"6%)")H%6%".+bH+(3.&".6Jc/"-(:'"+%"3H6:."'"&%):'/).F(6(+.+"%/")H"+%)-(/'!

63 Como el del Protocolo II adicional a los convenios de Ginebra, que regula conflictos armados de carácter interno.

146

+()3H&)'"I%J%*E/(3'!"D.)"&%3H&&%/-%)"5&.)%)"^:'&".6J'")%&a_K"^.6J'"I.F&a"I%3I'_K"^]H(1/"

).F%"%/"]H1"./+.F."*%-(+'_K"^)%" 6'"FH)3E_K"^:'&"-'/-'_K"^R(')":'&".6J'"I.3%" 6.)"3').)_K"

&%:&%)%/-./" 6."%)%/3(."+%"%)-%"*()*'"+()3H&)'"%/3.&/.+'"["&%:&'+H3(+'"%/" 6.")'3(%+.+d"

*()*'"]H%"+%)6(/+.".6",)-.+'"+%" )H" &%):'/).F(6(+.+"[" 6." -&.)6.+."." 6')" (/+(L(+H')K"." )H)"

5.*(6(.)K"."5H%&G.)"%2-%&/.)"*a)":'+%&').)K"%-3!"^T&(*(/.6(G.&"6.":&'-%)-.")'3(.6"+%):%b.&a"

%6"3.*(/'"."*a)"3&W*%/%)"+%",)-.+'"%/"%6")(J6'"xxN!_"X0'/-%*.['&K"=8#84"=@B9=@AC",)'"[."

6'"%)-.*')"L(L(%/+'"3'/"-'+."36.&(+.+"I'["%/"+W.!""

"

Y+%*a)K" '-&." +%" 6.)" 3'/)%3H%/3(.)K" [" 6'" ]H%" )%" FH)3." 3'/" %)-%" -(:'"+%" %)-&.-%J(.K" %)" 6."

+(L()(E/" [" &'*:(*(%/-'" X^+(L(+%" [" L%/3%&a)_C" +%6" -%b(+'" )'3(.6" X+(L()('/%)K" :HJ/.)K"

+(5%&%/3(.)K"+():H-.)K"3'/56(3-')K"-%/)('/%)"%/-&%"J&H:')K"5.*(6(.)"["3'*H/(+.+%)C!"

&

5R %<8;T@C<U&395?A<;673<U&B;4;<;673<&

"

R%/-&'"+%"%)-%"3'/-%2-'"+%"3&(*(/.6(G.3(E/"+%"6."6H3I.")'3(.6"%)"]H%"HF(3.*')"H/."+%"6.)"

)(-H.3('/%)" ]H%" I.3%/" 6." &%.6(+.+" +%" 6." +%).:.&(3(E/" *a)" +(5W3(6" [" .+L%&)." :.&." 6')"

5.*(6(.&%)!"Y)W"3'*'"%)-')"-&%)"3.)')"+%"5.*(6(.&%)"*H%)-&./"6."3.&."+%"6."&%)()-%/3(.K"+%"6."

:%&)%L%&./3(." [" %6" *'-'&" +%" 6H3I." ]H%" +%" %)-." -%&&(F6%" &%.6(+.+" )%" :H%+%/" J%/%&.&K"

h(JH%&'.")')-(%/%"]H%"/'"-'+')"6')"5.*(6(.&%)"&%.33('/./"(JH.6!"^D."5.*(6(.":H%+%"%*:%G.&"

." +(L(+(&)%K" .6JH/')" +%" 6')" 5.*(6(.&%)" )(%/-%/" ]H%" -(%/%/" ]H%" :%6%.&" :'&" 6." L(+." +%6" )%&"

]H%&(+'d"'-&')"6'"+./":'&"*H%&-'"[":&%5(%&%/".6%b.&)%"+%"-'+'"6'"]H%"6')":H%+."(/L'6H3&.&"

3'/"%6"+,-"$"),8.+(!_"XO(/%-I"0'/-%/%J&'"%/"h(JH%&'.K"#<<<4":!"#;#C"Y6JH/')"5.*(6(.&%)"

:H%+%/"%2:6(3.&)%"6."+,-"$").8./0":'&"%6"I%3I'"+%"]H%"%6"+,-"$"),8.+(##^%)-a"6'3'_K"^%)"H/"

+%6(/3H%/-%_K"^)%"6'"FH)3E_"["':-./":'&".6%b.&)%!"0H3I')"*.&(+')":&%)('/./".")H)"%):').)"

:.&."/'"(/L'6H3&.&)%!",/"%)-')"3'/-%2-')"%)"]H%"%6"+,-"$"),8.+(":H%+%"3'/L%&-(&)%"%/"H/"

-.FcK" )%3&%-'" +%" 5.*(6(." [" )%" 6%" /(%J.d" )%" +.K" %/" %)-')" 3.)')K" H/." )%JH/+." +%).:.&(3(E/"

+%)+%" %6" :&':('" )%/'" 5.*(6(.&!" D." (/-&'[%33(E/" +%6" -%&&'&" bH%J." H/" :.:%6" (*:'&-./-%" %/"

%)-')":&'3%)')d"%)"%)-'"c6-(*'" 6'"]H%"%6",)-.+'"FH)3.!" Xh(JH%&'.K"#<<<d"0.(%&K"=88#d"R%"

y%33I("w"ZE*%GK"=88;C"

147

,)-'"I.3%"]H%"%6":&'F6%*."+%"6."+%).:.&(3(E/"/'")E6'"(*:6(]H%K"3'*'"6'"I.3%"%/"%6"3.)'"+%"

%)-.)" -&%)"*Hb%&%)K" H/." 3H%)-(E/" 5.*(6(.&" [" :'6W-(3." ]H%" -(%/%" ]H%" %/5&%/-.&)%" [" FH)3.&"

)'6H3('/.&)%"%/"%6"3'6%3-(L'K"%/"6.)"3.66%)K"+%/H/3(./+'K"+%*./+./+'"["%/5&%/-a/+')%".6"

,)-.+'"*()*'" X'" ." )H)" 5H/3('/.&(')" &%:&%)%/-./-%)CK" )(/'"]H%" 6." 6H3I." [" 6.)" &%)()-%/3(.)"

*a)"3'-(+(./.)"["6.)")(-H.3('/%)"*a)".+L%&).)"3'*(%/G./"[")%"(/(3(./"+%)+%"%6"I'J.&!",)"."

)H)":&':(')"*.&(+')" X%/"%6" 3.)'"+%"Y3%6." ["P%[/.C" [" ." '-&')" 5.*(6(.&%)" ." 6')" ]H%"+%F%/"

%/5&%/-.&)%":.&.K":&(*%&'K"&%(L(/+(3.&"6."I()-'&(."+%")H)"I(b.)"X'"%/"%6"3.)'"+%"Y(3%6.K"+%")H"

I%&*./'CK"[")%JH/+'K":.&." bH)-(5(3.&"[":'+%&"3'/-(/H.&"3'/" 6."Fc)]H%+."+%")H)"I(b.)"[" 6."

+%&(L.+.":.&-(3(:.3(E/"%/"6."'&J./(G.3(E/!"#

&A($5!>&&R># t1u# x# %5,4(# $5,-# &"*6.;0# *58A"# 4,0&,# H"A?# ]5;# &,# $),(85$"-?# -,# '5,# 8(0# ,%# 0(7.(222R%# )"&(#

),4),-"K2#t222u#b,)W"#&(0&,)W"#+,#,%%"#]5,#-,#'5,)"#8(0#"%4X0#A(*6),#C#]5,#0(#0(-#"7.-")"222#b.,0+(#

50"#$,)-(0"#&"0222#),-$(0-"6%,#C#+,8.+.+"#"#A"8,)#-5-#8(-"-?#P0(T##

!>#Px#]5.;0#%,#+,8W"#,-(?#$()#,D,*$%(T##

R>#U"*.%."),-2##

!>#Px#-5#,-$(-(#]5;#+,8W"T#

R>#V5,-#;%#&"*6.;0#+,8W"#H$5,-#C"?#A"C#]5,#+,D")%"2#t1u#9%%"#-,#%(#65-8/2K#x#+.4(#H0(K2#t222u#

tR0&,#%"#$),450&"#+,#]5.;0#*Y-#A"#D5=4"+(#"#-5#A.D">u#

R># PQ5,# D5=45,T# V5,-# ,0# %"-# V")"+"-# ]5,# A,*(-# &,0.+(222# !"# '"*.%."222# RDY2# L(*(# 85"0+(# 7.0(#

:")8(-2#!,#8(*,0&;#%"#7,=#$"-"+"2#Q5,#$"-/#$()#G%"<8"%"2#x#"AW#-(0#'"*.%."),-#+,#*.#,-$(-(2#x#;%#

t50(#+,#%(-#'"*.%."),-u#+.8,#]5,#-,#%,#,0'),0&/#"#:")8(-#C#]5,#%,#+.D(#]5,#%,#,0&),4")"#"#*.#A.D"2#x#%,#

+.4(#H8(*$"+),?#&X#0.#&,#*,&"-2#b.#0(#-"6,-#%"#),"%.+"+?#0(#&.,0,-#$()#]5;#+,8.)%(2#V")"#*W#-,)W"#50"#

-"&.-'"88./0#]5,#,%%"#,-&57.,)"#8(0#:")8(-?#$()]5,#-"6)W"#]5,#,%%"#,-&Y#A"8.,0+(#"%4(222# %58A"0+(#

$()# "%4(# 65,0(2# V()]5,# ,%%"# ,)"# +,# %"-# ]5,# &,# 8(07.7W"#*Y-# 8(0# 50"# 4,0&,# A5*.%+,?# ]5,# 8(0# 50#

$(+,)(-(#8(*(#t222u#K2#x#8(*(#;%#"0+57(#*58A(#8(0#tI5%.(u#@,)0Y0+,=#C#&(+(#,-(?#$5,-#-,#-.,0&,0#

*5C#-,45)(-#,0#-5# &.,))"?#P0(T#V,)(# %,#+.4(#H,-(#0(#,-?#8(*$"+),K2#R#;-&(-# %,-#45-&"#)(6")#C# %,-#

45-&"# &,0,)# ,%# $(+,)2# V,)(#:")8(-# C# ,%%(-?# 0(2# x#*.# A.D"# 0(# ,-# +,# %"-# ]5,# "0+"6"# $()# "%4(222# ,0#

6,0,'.8.(#$")"#,%%"2#bW#*,#+.(#*58A(#8()"D,2#:58A(#8()"D,2# t222u#9)"#$).*(#+,#*.#,-$(-(2# t222u#x# %,#

+.4(# H8(*$"+),?# 0(# -"6,-# %"# -(6).0"# ]5,# &.,0,-2# V()]5,# ,-# +.',),0&,# "# &(+(-# 5-&,+,-2K#:,# +.(#

*58A(# 8()"D,?#*58A(# 8()"D,2#I.8,# HP0(# -(0#+,# %"-# ]5,#"0+"0# 8(0# %"# 8")"# &"$"+"TK# H\(?# ,%%"# 0(#

"0+"# 8(0# %"# 8")"# &"$"+"?# 8(*$"+),2# 9%%"# +(0+,# ]5.,)"# +"# %"# 8")"K2# x# ,%%(-# &.,0,0# -5#*(&.7(?# ,%#

$()]5;#&.,0,0#]5,#"0+")#"-W2#t1u#x#+.4(?#%(#$(8(#]5,#%(#&)"&;#C(?#,-#50"#8(-"#&(&"%*,0&,222#+.',),0&,#

"#%(#]5,#$.,0-"0#,%%(-?#P0(T#t1u#b.#0(#"C5+"0?#&,#+.4(?#P$")"#]5;T#I,-$5;-#+,#&"0&(-#"J(-#C#-"%,0#

8(0#,-"-#8(-"-2##XY3%6.K"=8#8C"&C$D"!>&S>#\(?#$5,-#8(0#*.-#7,8.0(-#0(#-;#-.#,%%(-#-,#A"0#+,#A"6,)#,0&,)"+(2#t1u#$()#,D,*$%(#,0#,%#b,45)(?#

$()#,D,*$%(?#(#,0#(&)"#$")&,#+(0+,#-,#,*$.,="#%"#$%Y&.8"?#0(?#$5,-#C(222#H8/*(#,-&Y0#%"-#8(-"-K#H0(?#

$5,-#C(#&,04(#50"#A.D"#+,-"$"),8.+"K?#C#A"8W"#%"#$%Y&.8"?#$,)(#8(0#(&)"-#$,)-(0"-?#0(222#0(#+.4"*(-#

]5,#"]5W#8(0#,-&"-#7,8.0"-222#V()#*Y-#]5,#50(#-,#%%,7"?#$,)(#0(2#

D4"s|":'&"]H1"3&%%t"suH1"/'"6%"JH)-.t"

148

S>#V()222#$5,-#-W#$()]5,#%"#4,0&,?#8(*(#%,#+.4(?#-(0#*5C#*"%#A"6%"+"-?#*5C#*"%#$,0-"+"-2#t222u#q#%,#

+.8,0# C# ,%%(-# 0(-# 8(0&,-&"0# 50"# $"%"6)"# ]5,# 0(# %,-# 7"# "# 45-&")2# V()# ,D,*$%(# L(0.# +.8,# ]5,# %,#

+.D,)(0222#,%%"#%,-#+,8W"#]5,#H%(-#+,-"$"),8.+(-?#]5,#%(-#65-8"*(-K2#H\(K?#+.8,?#H,%%(-#C"#0.#,-&Y0?#"#

,%%(-#%(-#*"&")(02#x"#%(-#*"&")(0K2#x#,0&(08,-#+.8,#L(0.#]5,#%,-#+.D(#Hv5,0(?#P5-&,+#-"6,#]5.;0#%(#

*"&/T#t222u#P^-&,+#*,#7"#"#+,8.)#]5.;0#%(#*"&/T#V")"#-"6,)222#C#5-&,+#7"#"#+,8.)#]5.;0#%(-#*"&/2K#

I.8,?#H"#*W#0(#*,#45-&"#&"*6.;0#+,#]5,222#0(-#+.8,#*58A"#4,0&,2#V5,-#,%%"-#'Y8.%?#8(*(#0(#-.,0&,0#

,%%(-?#$5,-#8%")(222K#"XP%[/.K"=8#8C"""

O'":&%-%/+%"3'/"%)-.)".5(&*.3('/%)"^.3H).&)%"+%"3'*:6(3(+.+_"\/("*H3I'"*%/')9"."%)-')"

'-&')" 5.*(6(.&%)" ]H%" L(L%/" [" )%" %2:6(3./" .)W" %)-." )(-H.3(E/" /.-H&.6*%/-%" -.*F(1/" +(5W3(6"

:.&."%66')!",)")E6'":'/%&"%/"%L(+%/3(."6')"&%3H&)')"+()3H&)(L')"]H%"%)-a/"."6."*./'K"["]H%""

I.F6./"+%"6.)" (/-&'[%33('/%)"+%6"-%&&'&"]H%")%"*./(5(%)-."%/"+()-(/-.)"5'&*.)!"T'*'"+(3%"

h(JH%&'.4""

"

V,)(# 0(# 0,8,-")."*,0&,# -,# 0,8,-.&"# ,-&")# .+,0&.'.8"+(# 8(0# ,%# ,-&"6%.-A*,0&# $")"# (6-,)7")# %"#

.0&)(C,88./0#+,%#&,))()2#v"-&"#8(0#-,0&.)#50#*.,+(#$)('50+(#$")"#,*$,=")#"#-,0&.)#)"6."#8(0&)"#%"#

7W8&.*"#,0# %54")#+,#A"8,)%(#8(0&)"#,%#7.8&.*").(>#&(+(# %(#]5,#"A()"#0(-#,-&Y#$"-"0+(#,-#85%$"#+,#

;%w,%%"?#-.#0(-#A56.,)"#A,8A(#8"-(?#-.#A56.,-,#+,D"+(#+,#A"8,)# # %(#]5,#A"8W"?#0(#,-&")W"*(-#"A()"#

7.7.,0+(# %(# ]5,# ,-&"*(-# 7.7.,0+(2# \(# -(%"*,0&,# ,%# +(%()# $)(7(8"# %"-# "0&,).(),-# %"*,0&"8.(0,-?#

&"*6.;0#,-#,%#&,*()#"#%"-#),$),-"%."-#-(6),#(&)(-#*.,*6)(-#+,#%"#*.-*"2#Xh(JH%&'.K"#<<<4"#<#C""

iH%+%")%&" 6."*%G36."+%6"*()*'".*'&"I.3(."%6"5.*(6(.&"+%).:.&%3(+'K"+%6"-%*'&"[".5a/"+%"

:&'-%33(E/" I.3(." 6')" +%*a)"*(%*F&')" +%" 6." 5.*(6(.K" [" +%" H/." :')(F6%" :&'[%33(E/" +%" H/"

)%/-(*(%/-'"+%"3H6:."%"(*:'-%/3(.K" 6'"]H%":H%+%":&'L'3.&"%)-.)"&%.33('/%)"+()3H&)(L.)"["

%2:6(3.-(L.)!" R%" -&.F.b')" 3'/" 5.*(6(.&%)" +%" +%).:.&%3(+')" %/" ZH.-%*.6.K" O(/%-I"

0'/-%/%J&'"*%/3('/."]H%":.&."*H3I')"5.*(6(.&%)"%6"+%).:.&%3(+'K"3'/")H)".3-(L(+.+%)K"

^/'" )'6.*%/-%" %2:H)'" )H" L(+." )(/'" -.*F(1/" 6." +%" )H)" )%&%)" *a)" ]H%&(+')!" X>C" m%"

'F)%&L.+'"3.)')"X>C"+%"5.*(6(.&%)"]H%".:&'L%3I./+'"]H%"6."LW3-(*."/'"66%L.F."%6"*()*'"

.:%66(+'"/(%J./"H"'3H6-./" )H" &%6.3(E/"+%":.&%/-%)3'_" XO(/%-I"0'/-%/%J&'K" %/" h(JH%&'.K"

#<<<4"#;#C"

"

i'&"-'+'"6'"./-%&('&"%)"]H%K"%/"6."*.['&W."+%"6')"3.)')K"/'"%2()-%/"X'"%)"+(5W3(6"%/3'/-&.&C"

&%+%)")'3(.6%)"]H%")%./"3.:.3%)"+%"3'/-%/%&"-.6":1&+(+.d")%"-&.-."+%"H/.":&'F6%*a-(3."]H%"

/'" :H%+%" .:.6.F&.&)%" /(" )'3(.6(G.&)%" -./" 5a3(6*%/-%!" ,/" :&(*%&" 6HJ.&K" :'&]H%" /'" I.["

149

3%&-%G.)"%/"6."&%.6(+.+"+%"6."+%).:.&(3(E/7B"[K":'&"6'"*()*'K"%)"+(5W3(6"+.&6%"6HJ.&K"3.-%J'&W."

[" /'*F&%" ." 6." :1&+(+.!" ,/" )%JH/+'" 6HJ.&K" :'&]H%" %)" H/." &%.6(+.+" +%)3'/'3(+." [" :'3'"

.)(*(6.+." :'&" %6" J&H%)'" +%" 6." :'F6.3(E/d" %/" -%&3%&" 6HJ.&K" :'&" H/" *(%+'" 3'/3&%-'" ["

5H/+.*%/-.+'"+%"I.F6.&"+%6"-%*.d"["%/"3H.&-'"6HJ.&K":'&]H%"6."*()*."+%)(/5'&*.3(E/"'"

5.6-."+%"(/5'&*.3(E/".H/.+."."H/"*(%+'")'3(.6"X[".6(*%/-.+."3'/"%6"+()3H&)'"*%+(a-(3'"+%6"

,)-.+'" +%6" ]H%" .3.F." +%" I.F6.&)%CK" 3'/66%L./" -.*F(1/" ." 6." %)-(J*.-(G.3(E/" +%6"

+%).:.&%3(+'"[K"%/"3'/)%3H%/3(.K"+%")H"5.*(6(.!"

&C$D"!>&S>#!(#]5,#%,#+.4(#+,#]5,222#\(?#$5,-#C"#,0#,-&(-#&.,*$(-#&"%#7,=?#,-&,?#-,#+.,)(0#85,0&"#]5,#'"%&"222#x#

%5,4(#*,#$),450&"0# HPx# -5# A.D"# j)*"TK# !,# +.4(# HRC?# ,-"# j)*"K?# %,# +.4(2# Hb,# '5,# $()# 8,)8"# +,#*.#

&.,))"?#-,#D50&/#8(0#50222#50#*58A"8A(K?#%,#+.4(?#HC#$()#"%%Y#,-&Y2#V()#"%%Y#,-&Y02#x#8(*(#0(#%(-#+,D"#

7,0.)#-5#$"$Y?#$()]5,#%,-#"C5+"#"%#*58A"8A(?#-5#*").+(?#,0#,%#8"*$(?#C#0(#7.,0,2#x(#7(C?#$"-(#$()#

"%%Y#$")"#.)*,#"#q"<"8"?#C#$()#"%%Y#%(-#7,(2K#l-"#,-#&(+"#%"#)"=/02#V5,-#C(#$.,0-(#]5,#0(#&.,0,#8"-(#

$%"&.8")%,#$).*,)(#"#X%&.*(# 8/*(#,-&"*(-#"]5W?# C(#+.4(2# Pq# 8/*(#7,T# t1u#V),8.-"*,0&,#$()# ,-(#

50(#0(#+.(#"#-"6,)?#$()]5,# %5,4(#+.8,0#H0(?#$5-#$"h#]5;#0(-#*,&,*(-#8(0# #,-&"-#$,)-(0"-2#9-# %"#

*"+),#+,#-5#A.D"#]5,# %"#"4"))")(0#C#C"?#$5,-#C"#0(#0(-222#0(#0(-#*,&,),*(-#8(0#,%%(-K?#(#"0+"0#

.07,0&"0+(#*Y-#8(-"-2#x#$()#,-(#0(?#0(2#V,)(#A"-&"#"A().&"#0(2"XP%[/.K"=8#8C"&

BR %?&:6TC2V?C&5C<C&56@6&A7&3<DC5;6&<3TA26W&A7C&@32C&;?A<;=7&

"

|.")%"+()3H-(E"F&%L%*%/-%"6'"5(3-(3('"+%"6.)"/'3('/%)"+%"6."3.)."X["%6"I'J.&C"3'*'"%):.3('"

(*:%&*%.F6%"[":&'-%J(+'!"$'+')"%)-')"+()3H&)')"I%J%*E/(3')" (/5(6-&.+')"[" &%:&'+H3(+')"

%/" 6')"%):.3(')"+'*1)-(3')K"]H%"." 6'" 6.&J'"+%"%)-%"-%2-'"X["+%"%)-%".:.&-.+'C")%"I./" (+'"

:&%)%/-./+'K")H)-%/-./"6."(+%."+%"6.)&5%*(/()-.)K"]H(%/%)"^I./"./.6(G.+'"%6"3'/-&'6"%)-.-.6"

."-&.L1)"+%"6."5.*(6(."[".)W"&%L%6.+'"X!!!C"6."(6H)(E/"+%"H/"%):.3('":&(L.+'"[":&'-%J(+'Ç_"Xh(63K"

#<<?4"==Cd".)(*()*'"6." (+%."+%"V.66%)K"]H(%/")%"&%5(%&%"."%)-%"c6-(*'" 6HJ.&"3'*'"%6"^5'3'"

:&(L(6%J(.+'"+%"6." (/-%&L%/3(E/"+%6",)-.+'"[")H)"+%:%/+%/3(.)_"XV.66%)K"%/"T.6L%(&'K"=88A4"

=;C!"

"

R%"6.)"/.&&.-(L.)":'+%*')"(+%/-(5(3.&".6"*%/')"-&%)"3H%)-('/%)"]H%")H)-%/-./"%)-'"c6-(*'!"

#C i.&."%*:%G.&K")%"(+%/-(5(3."+(&%3-.*%/-%"6."3.)."+'/+%"L(LW./"6')"+%).:.&%3(+')K"6."

7B"0a)"]H%"6."+%"6."&%):'/).F(6(+.+"+%6",)-.+'!"

150

3.)."*.-%&/."[":.-%&/."X%/"6')"-&%)"3.)')CK"3'*'"%6"6HJ.&"c6-(*'"+'/+%"&%)(+W./"[M'"

5H%&'/"L()-')"1)-')"./-%)"+%")%&")%3H%)-&.+')!",/"%6"3.)'"+%"Y(3%6."%)"%)-%"%):.3('K"

%/"$%3.*.3I.63'K"%6"]H%"&%*(-%".6"*(%+'"[".6":%6(J&'K".6"" I%3I'" *()*'" +%" 6."

+%).:.&(3(E/"+%")H"I%&*./'4"

#bW?# "%# $).08.$(# .6"?# .6"?# .6"2# x# +,-$5;-# +,D;# +,# .)2# L),(# ]5,# ,)"# ,%# *.,+(# "# %%,4")# "#

G,8"*"8A"%8(2#PV()#]5;T#x(#"A()"#%(#+,+5=8(>#$5,-#$()]5,#"AW#'5,#+,#+(0+,#-,#%%,7")(0#"#

_"%,0&W02# V()]5,# C(# -,0&W"# ]5,222# C# "+,*Y-?# $()]5,# 85"0+(# .6"?# *,# +,8W"0# ]5,# A"6W"#

7.4.%"08."2# L"+"# 7,=# ]5,# .6"# *,# +,8W"0# H,-# ]5,# A"C# 8(8A,-# ,<&)"J(-?# A"C# $,)-(0"-#

,<&)"J"-2K#x# &,#+,8W"#]5,#"# %(-#(8A(#+W"-# ),4),-/#50# .0+.7.+5(#8(0# %"# 8"*.-"#+,#_"%,0&W0#

"]5W#8(%4"+"2#90&(08,-#50(#8(*(#]5,#&)"-%"+"#&(+(?#C#-W# &,0W"#*.,+(2#90&(08,-#C(#C"#0(#

]5,)W"#%%,4")#"#G,8"*"8A"%8(2#x#*,#"%,D(2#:,#"%,D(#&(&"%*,0&,#+,#G,8"*"8A"%8(2#V,)(#*,#

"%,D(#+,#&"%#*"0,)"?#]5,?#,-&,?#*.-#$"$Y-#0.#-.]5.,)"#-"6,0#"#+/0+,#,-&(C2#V()]5,#C(#0508"#

%,-#+.#,%#&,%;'(0(#+,222#+,#%"#8"-"#+,#,-&5+."0&,-?#C#0508"#%,-#+.#%"#+.),88./02#M\(#%,-#+.#0"+"O#

x#*,#,*$.,=(#"#"%,D")?#*,#,*$.,=(#"#"%,D")222#x#8(*(#]5,#&(+(#,%#$)(8,-(#%(#7.7(#-(%"?#P0(T#

XY(3%6.K"=8#8C"##

,/"%6"3.)'"+%"P%[/.K"%)"%/"%)-%"6HJ.&"+'/+%")%"3&%%"]H%")%"(+%/-(5(3E"[")%"L(J(6E"."6."

I(b.!",)".+%*a)"%6"6HJ.&"+%)+%"+'/+%"%6"*.&(+'"+%"1)-."*./+E"."66.*.&"."6.":'6(3W."

:.&."]H%"5H%&./":'&")H"I(b."X[".IW"5H%"+'/+%"5H%&'/"."FH)3.&6.C!"

"

,/" %6" 3.)'" +%" +'`." Y3%6.K" ." :%).&" +%" ]H%" )H" I(b." [." /'" L(L(%&." 3'/" %66." XI%3I'"

*()*'"]H%"3.H)E"*H3I.)"-%/)('/%)"%/"%6"I'J.&CK"%66."5H%"L()-.":'&"c6-(*."L%G"%/"6."

3.)." *.-%&/.M:.-%&/.K" :'&" I.F%&" ]H%+.+'" ." 3.&J'" +%" 6')" I%&*./')" *%/'&%)"

*(%/-&.)" )H)" :.+&%)" ).6(%&'/" :.&." 5%)-%b.&" %6" .`'" /H%L'!" ,)" +%3(&K" 5H%" %/" %6"

*'*%/-'" %/" ]H%" m(6+." )%" %)-.F." ]H%+./+'" %/" 6." 3.)." *.-%&/." 3H./+'" 5H%"

+%).:.&%3(+.!""

"

=C ,/")%JH/+'"6HJ.&K"3'*'"[."*%/3('/.*')"-.*F(1/K"%)"+%)+%"%6"I'J.&"+'/+%")H&J%/"

6')" :&(*%&')" 'F)-a3H6')K" -%/)('/%)K" (/)%JH&(+.+%)K" *(%+')K" (/3&%+H6(+.+%)K"

%)-(J*.)K"3'/56(3-')"["%/5&%/-.*(%/-')!",)"%/"%)-%"%):.3('K"%/":&(*%&"6HJ.&K"+'/+%"

%)-.)"*Hb%&%)K".6"*%/')"P%[/."["Y3%6.K"-(%/%/"]H%"%/5&%/-.&)%".")H)"*.&(+')!",)-%"

^I'J.&_" &%:&%)%/-."H/" 6HJ.&"*a)"I')-(6":.&."%)-.)"*Hb%&%)"]H%"'-&')".5H%&.)4"H/"

6HJ.&" +'/+%" /'" )%" :H%+%" I.F6.&" 6(F&%*%/-%" +%" 6." +%).:.&(3(E/d" +'/+%" %2()-%/"

151

*.&(+')" (*:')(-(L')" ]H%" /'" +%b./" ).6(&" ." )H)" %):').)d" +'/+%" )%" 3'/L(L%" 3'/" H/"

*.&(+'" .63'IE6(3'K" %6" +%" +'`." P%[/.K" ]H%K" .+%*a)K" )%" +(3%" ]H%" 66.*E" ." 6.)"

.H-'&(+.+%)":.&."]H%"+%-HL(%&./".")H"I(b.d"+'/+%"%2()-%/"+(/a*(3.)"5.*(6(.&%)"+%"

3'/)-./-%)"-%/)('/%)"["&%3&(*(/.3('/%)!!!"$'+'"%)-'"/'"%)"6."*%b'&"&%:&%)%/-.3(E/"

+%"H/"6HJ.&"+%")%JH&(+.+4"%6"%/%*(J'K"+%".6JH/."*./%&.K"%)-.F."%/"3.).!#

#

@C R%" 6'" ./-%&('&" )%" )(JH%" [" )%" %/-(%/+%" 6." Fc)]H%+." +%" H/" %):.3('" +%" 3'/5'&-" ["

)%JH&(+.+" .6-%&/.-(L'" ]H%" %)K" %/" %)-')" 3.)')K" %6" 3'6%3-(L'!" ,)" &%3H&&%/-%" %/" 6')"

+()3H&)')" +%" %)-.)"*Hb%&%)" 6." (+%." +%" 6." 5H%&G.K" )%JH&(+.+" [" 3'/5(./G." ]H%" %/" 6."

'&J./(G.3(E/")%"%/3H%/-&./!"D."3.66%K"%6"%):.3('":cF6(3'"%/"3'6%3-(L'K"&%)H6-.")%&"H/"

6HJ.&"*H3I'"*a)")%JH&'K"+'/+%")%"3'/)(JH%K".+%*a)K"&%H/(&"5H%&G.)"(/(*.J(/.+.)!"

,)-.&" 5H%&." +%" 3.).K" L()(F6%K" 3'/" %6" &%)JH.&+'" +%6" 3'6%3-(L'K" -%&*(/." )(%/+'" H/."

*%+(+." +%" )%JH&(+.+!" uH%+.&)%" %/" 3.)." )(*F'6(G." +%)%):%&.3(E/K" +%).*:.&'K"

LH6/%&.F(6(+.+K"./)(%+.+!"#

"

Y)W"3'*'"h(63"+(3%"]H%"%6"-%&&'&()*'"+%",)-.+'"%/"Y&J%/-(/.K".6".F&(&"%6"%):.3('"+'*1)-(3'"

.6"%):.3('":cF6(3'K" " ^+%)*(/-(E" 6." (6H)(E/" 6(F%&.6"+%"H/"I'J.&":&'-%3-'&!_" Xh(63K"#<<?4"<BCK"

:H%+%" +%3(&)%" ]H%K" ." :.&-(&" +%" %)-.)" %2:%&(%/3(.)" -./" W/-(*.)" [" :&(L.+.)" +%" %)-.)" -&%)"

*Hb%&%)K"]H%+."-.*F(1/"+%)*%/-(+."6."(6H)(E/"+%"%)-%"I'J.&":&'-%3-'&"%"(/-'3.F6%!"VH&J%K"

:'&"-./-'K"6."/%3%)(+.+"+%").6(&"["FH)3.&"5H%&."H/"%):.3('"3'/"%)-.)"3.&.3-%&W)-(3.)"["%)-.)"

5H/3('/%)"]H%"%6"I'J.&"[."/'":&'L%%!"

"

152

#

['- 9:;0$<!=&g"&";$*)&7;",)&,$&*+,!>&;"&";$*)&%$"#+,)&

&

['-'. :5&%+"%$"#+,)&()O0!&%$"#+,)& &

"

T'/" )H"*./-'" +%" )(6%/3('K" %6" ,)-.+'" :&%-%/+%K" .+%*a)" +%" %)-(J*.-(G.&" [" 3&(*(/.6(G.&" .6"

+%).:.&%3(+'K"+%)6(/+.&)%"+%"%)-."&%):'/).F(6(+.+d"/'"%2()-%"H/"&%3'/'3(*(%/-'"%)-.-.6"X/("

:'6W-(3'"/(")'3(.6C"+%"6."&%.6(+.+"+%"6."+%).:.&(3(E/!"i'&"6'"*()*'K""6."3.H)."+%6"^+%H+'_K"%)"

+%3(&K"+%" 6')"5.*(6(.&%)"%/"%)-%"3.)'K"^-.*:'3'")%&W."La6(+.K"[" 6'"3'/L(%&-%".)W"%/"H/" 6'3'"

-.*F(1/K" H/" 6'3'" ]H%" I.F6." (/3'I%&%/3(.)K" [" ]H%" H)." /%'6'J()*')" -.6%)" 3'*'#

+,-"$"),8.+(K"'"]H%"H)."3'*'"3'/)(J/.4"^L(L')"6')"66%L.&'/K"L(L')"6')"]H%&%*')_K"3H./+'"

.]H%66.)" :%&)'/.)" ]H%" Ç[." /'" %)-a/Ç" Ç%)" 'FL('Ç" ]H%" %)-a/" *H%&-.)7A!" ,6" -1&*(/'"

+,-"$"),8.+(?#%)"-.*F(1/"H).+'"I'["%/"+W."+%"5'&*."(/)-(-H3('/.6K":%&'"%/"3'/-%2-')"*H["

.3'-.+')" [" )(/" I.F%&" )(+'" .:&':(.+'" :'&" 6." )'3(%+.+"*%2(3./." ).6L'" %/"*H[" :%]H%`')"

3W&3H6')!77"XR%"y%33I("w"ZE*%GK"=88;4"#B?C"

Y6" %2()-(&" :'3'" %3'" %/" )H)" :&':(.)" 5.*(6(.)" [" 3W&3H6')" 3%&3./')" +%" )H" +'6'&" 3'*'"

*.+&%)K" %)" ]H%" )H&J%" 6." /%3%)(+.+" +%" FH)3.&" '-&'" %):.3('" %/" +'/+%" %)-." &%.6(+.+" )%."

3'*:.&-(+."["%6"-.0-,0&.+(#)%."&%3'/'3(+'"["3'/L%&-(+'"%/"^)%/-(+'_":'&"H/."3'*H/(+.+!"

,)"6."'&J./(G.3(E/K"%6"T'*(-1"o,H&%p.qK"%6"%):.3('"]H%"3H*:6%"%)-."5H/3(E/!"

S/" -&.F.b'" %-/'J&a5(3'"*H[" (*:'&-./-%" )'F&%" %6" -%*.K" %/" %6" 3'/-%2-'" .&J%/-(/'"

-.*F(1/K"%)"%6"+%"DH+*(6."T.-%6."X=88#C4"\(#A"6)Y#'%(),-#,0#%"#&5*6"#+,%#$"-"+(2#,/"1)-%"

)%"I.F6."+%"6."%2:%&(%/3(."+%"&%3'/)-&H33(E/"+%6"*H/+'"+%"6')"5.*(6(.&%)"+%"+,-"$"),8.+(-"

[" 6."3'/5'&*.3(E/"+%"/H%L.)":&a3-(3.)")'3(.6%)"[":'6W-(3.)".":.&-(&"+%"%)-.")(-H.3(E/!",)-."

.H-'&."3'/)(+%&."6."3.-%J'&W."+%).:.&%3(+'"3'*'"%6"&%)H6-.+'"+%"H/.".33(E/"3'6%3-(L."]H%"

7A" R%)+%"3(%&-')")%3-'&%)"+%"6.")'3(%+.+")%"I."3&(-(3.+'"."'&J./()*')"3'*'"%6"T'*(-1"o,H&%p.qK"'"m!N!n!Q!V!K"

:'&" /'" '6L(+.&" '" *./-%/%&" 3'/)(J/.)" -.6%)" 3'*'" ^oy(L')" 6')" 66%L.&'/K" L(L')" 6')" ]H%&%*')q_K" ^oO'"'6L(+.*')K"/'":%&+'/.*')K"/'"/')" &%3'/3(6(.*')q_K".&JH*%/-./+'"]H%" 6." (/)()-%/3(."%/"^.5%&&.&)%_".6":.).+'" %)" (*:%+(*%/-'" :.&." 3'/)-&H(&" H/" 5H-H&'K" [" +(3(%/+'" ]H%K" F.)a/+')%" %/" 6." 6EJ(3.K" +%):H1)" +%"-./-')".`')"6')"+%).:.&%3(+')"+%F%/"%)-.&"*H%&-')"X:'&"6'"3H.6"6.":&(*%&."3'/)(J/."&%)H6-.&W."&(+W3H6.C!"

77 ,)-." )(-H.3(E/K" %/" .`')" &%3(%/-%)K" I." 3.*F(.+'!" 0%/3('/.&" %6" +%F.-%" +%6" &%)H&J(*(%/-'" [" 6."&%)(J/(5(3.3(E/" " +%6" -1&*(/'" ^+%).:.&%3(+'_K" .)'3(.+'" ." )%3H%)-&')" &%6.3('/.+')" 3'/" %6" ^3&(*%/"'&J./(G.+'_K" [" /'" -./-'"*'-(L.+'" :'&" ^&.G'/%)" :'6W-(3.)_!" Y]HW" %/-&." -.*F(1/" %6" +%F.-%" +%" 6'" ]H%" %)"^:'6W-(3'_"'"/'!"

153

:&':(3(E" %):.3(')K" %2:%&(%/3(.)" 3'*:.&-(+.)K" LW.)" +%" 3'*H/(3.3(E/K" )':'&-%)" +%"

3'/-%/3(E/K"&%:&%)%/-.3('/%)K"[K"."J&./+%)"&.)J')K"3&%.3(E/"+%"(+%/-(+.+%)4"

&

9%# +,-,0%"8,# +,# %(-# ),%"&(-# *")8"# 50# 4)"0# 7"8W(# ]5,# 0(# $5,+,# ,<$%.8")-,# 8(0#

,<$,).,08."-# -(8."%,-# 7.7.+"-# "0&,).()*,0&,?# 50"# -.&5"8./0# -/%(# ,<$%.8"6%,# 8(0#

$"%"6)"-#8(*(#0508"#*Y-?#-,# %(# %%,7")(0?#"AW#-,#8()&/#&(+(2#G"%#7"8W(#$"-/#"#-,)#

(85$"+(#$()#%"#8"&,4()W"#+,-"$"),8.+(2#t1u#9%#)(*$,8"6,="-#0(#$(+W"#")*")-,?#,%#

'"*.%.")# -,85,-&)"+(#0(#"$"),8W"?# -(6),# ;%# -,# &,0W"#$(8"#(#0.0450"# .0'()*"8./02#

V(8(#"#$(8(#-,#8(*,0=/#"#A"6%")#+,#,-&"-#$,)-(0"-#8(*(#+,-"$"),8.+(-2"XT.-%6.K"=88#4"#8?d"##@C""

"

P%5(&(1/+')%"%/":.&-(3H6.&"." 6."'&J./(G.3(E/"m!N!n!Q!V!9012(3'K"R%"y%33I("["ZE*%G" X=88;C"

I.F6./" +%" 6." /%3%)(+.+" +%" 6')" 5.*(6(.&%)" +%" H/" (/-%/-'" +%" -&./)5'&*.&" 6." &%.6(+.+" X%/"

-1&*(/')" +%" bH)-(3(." [" &%(L(/+(3.3(E/" +%" 6')" +,-"$"),8.+(-# [" )H)" 6H3I.)C" [" H/"

&%3'/'3(*(%/-'")'3(.6":'&":.&-%"+%6",)-.+'"[" 6." )'3(%+.+K":.&."]H%" 6.":1&+(+." (/+(L(+H.6"

.+]H(%&."H/")%/-(+'"[")H)"&(-')":H%+./")%&"%/-%/+(+')"[".3'J(+')":'&"6.")'3(%+.+!""

,)"bH)-'":'&"%6"&%3'/'3(*(%/-'"+%"-'+'"6'"]H%"%/J6'F."6."+,-"$").8./0K"]H%")W"%)"H/"I%3I'K"

:'&"6'"]H%")%"6H3I.!"R%".IW"6."(*:'&-./3(."+%6")H&J(*(%/-'"+%6"3'/3%:-'"+%"+,-"$"),8.+("["

6." /%3%)(+.+" X.6"*%/')" %/" %)-')" 3.)')C" +%" 3'/-(/H.&" 3'/" 6." Fc)]H%+.K" 3'/" 6." :&%)(E/" ."

:.&-(&" +%" 6." :.&-(3(:.3(E/" %/" 6." '&J./(G.3(E/!" S/." +%" 6.)" :&(*%&.)" /%3%)(+.+%)" %)K"

:.&-(3H6.&*%/-%" X'" 3'/"H/"1/5.)()"%):%3(.6C" %/"%6" 3.)'"+%" 6.)"*.+&%)K" .+%*a)"+%K" 3'*'"

3'/)%3H%/3(.K" I.3%&" +%" -'+')" %6" :&'F6%*." ]H%" ." %66.)" 6%)" .-.`%" :%&)'/.6*%/-%K" [" ]H%"

.5%3-." ." 6." )'3(%+.+" %/" )H" 3'/bH/-'K" X&%C3'/'3%&" 6." I()-'&(." +%" )H)" I(b.)" X%/" %6" 3.)'" +%"

Y(3%6.K"+%")H"I%&*./'CK"["&%(L(/+(3.&6.!"D(*:(.&"%/"%)-%")%/-(+'")H"/'*F&%K")H"I()-'&(.K")H"

L(+.K")H"6H3I.!"Y)W"%)"]H%":H%+%"+a&)%6%K"+%"3(%&-."5'&*.K")%/-(+'"."6.":1&+(+.K"["."6."L(+."

*()*.!"

,)-.)" *Hb%&%)K" %/" )H" 3'6%3-(L'K" FH)3./" [" %/3H%/-&./" ^H/" 6HJ.&" +'/+%" %)-%"

&%3'/'3(*(%/-'" )%" :H%+."+.&K" [" ." -&.L1)" +%6" 3H.6" (/3(+(&" %/" H/" )%3-'&"*a)" .*:6('" +%" 6."

)'3(%+.+!",)".)W"3'*'K".":.&-(&"+%"%)-%"&%3'/'3(*(%/-'"]H%")%":%&)(JH%"%/")H"6H3I.K"+%"6."

(/-&'+H33(E/" :cF6(3." [" 66%/." +%" 3'/-%/(+'" X/'" 3'*'" :.6.F&." )H%6-.C" +%6" 3'/3%:-'" +%"

154

+,-"$"),8.+(K"[."/'")%"-&.-.&W."+%"H/"k6%/JH.b%":&(L.+'"/("+%"/%'6'J()*')"+%"H/"6'3'l!"XR%"

y%33I("wZE*%GK"=88;4"#B?C""

Y)WK" :H%)K" 6." *(&.+." +%6" '-&'" 9%6" &%3'/'3(*(%/-'" +%6" '-&'9" &%)H6-." 5H/+.*%/-.6"

:.&-(3H6.&*%/-%"%/"%)-')"3.)')"%/"6')"]H%"/'"I.[":&H%F.)"*.-%&(.6%)K"/'"I.["3H%&:'K"/'"

I.["&.)-&'K"["/'"I.["6HJ.&":.&."%6")%&"]H%"H/"+W.")%"66%L.&'/!"V("/'"I.["%)-'K")("/'"I.[".6Jc/"

%6%*%/-'" :.&." &%:&%)%/-.&)%" %6" -&.H*." '" 6." :1&+(+.K" %6" :&'3%)'" +%" +H%6'" /'" :H%+%"

3'*%/G.&d"%2()-%"H/"3'*:'/%/-%"+%6"+H%6'"(/+H+.F6%*%/-%")'3(.64")(/"%6"&%3'/'3(*(%/-'"

[" 6."*(&.+."+%6"'-&'K"/'":H%+%"6'3.6(G.&)%" 6.":1&+(+."["/'":H%+%"/'*F&a&)%6%"/("I.3%&)%"

/.+."3'/"%66.d"%/"-1&*(/')":)(3'./.6W-(3')K"/'":'+&W."%6.F'&.&)%"%6"+H%6'K"]H%")(J/(5(3.&W."

&%(/)-.H&.&"%6"+%)%'"%/"%6")Hb%-'K" (/)-.H&.&"H/.":')(3(E/")HFb%-(L."+()-(/-.!"Xz.H.FK"=88#d"

Y66'H3IK"=88#d"T.-%6.K"=88=d"R%"y%33I("w"ZE*%GK"=88;C"

P%):%3-'" ." H/" %b%*:6'" %*F6%*a-(3'" %/" %)-%" )%/-(+'K" 3'*'" 6'" %)" %6" 3.)'" +%" 6.)"

0.+&%)" +%" i6.G." +%" 0.['" %/" Y&J%/-(/." 3'/" )H)" )(*FE6(3.)" &'/+.)" +%" 3.+." bH%L%)K"

0.&-W/%G"+%"6.",)3.6%&.""./.6(G."["3'/36H[%"]H%"%)-%"&(-H.6"")%"-&.-."+%"H/."

"

&Y8&.8"#+,#),-.-&,08."#8(0&)"#%(-#$(+,),-#+,#'"8&(#]5,#A"8,#5-(#+,#%"#'5,)="#*,&(0W*.8"#+,#%"#%,045"#t1u#$")"#-5-&.&5.)#,%#85,)$(#+,%#+,-"$"),8.+(#$()#50"#8"+,0"#+,#),',),0&,->#t1u#0(#,-#-5#

-,<5"%.+"+# (# ,)(&.-*(# ,%# ]5,# -,# ('),8,# "# %"# *.)"+"# -.0(# -5# *"&,)0.+"+?# ]5,# %%,7"0# 8"-.# 8(*(#

,-&"*$"+"# #-(6),#,%#$"J5,%(#6%"08(#"&"+(#"# %"#8"6,="#C#]5,# %"-#8(07.,)&,#,0#,*6%,*"-#+,%#A.D(#

*5,)&(#C#,0#),$,&.8.(0,-#+,%#*.-*(#+(%()2#9%#+5,%(#$).7"+(#$"),8,#"6).)-,#"-W#"#%"#%.6),#,<$,).,08."#

$X6%.8"#C#8(%,8&.7"#'(8"%.="0+(#%"#*.)"+"># %"#*.)"+"#-,#8(07.,)&,#,0#"8(0&,8.*.,0&(#+,# %"#7,)+"+2#

b/%(# ,0&(08,-# ,%# +(%()# .0+.7.+5"%# -,# 75,%7,# A"6.&"6%,# C# 0(# # -/%(# 7.7.6%,?# $()]5,# $")"# A"6.&")# ,-#

$),8.-(?#8(*(#-5$(#+,8.)%(#@,.+,44,)?#$(+,)#8(0-&)5.)?#$(+,)#,%"6()")#"%4(#]5,#0(#,-&"6"#"%%W#C#]5,#

$(+,*(-# "+,*Y-?# 8(*$")&.)?# .0&,)8"*6.")?# 7(%7,)# 8(*X0# t@,.+,44,)u2# !"# $;)+.+"# ,0&(08,-# -,#

-5-&.&5C,#B*,&(0W*.8"*,0&,3#$()#"%4(#7.-.6%,#C#,-858A"6%,?#'.45)"#C#7(=?#&,-&.*(0.(#C#&,-&.'.8"8./0#

,0'Y&.8"#+,%#(&)(#]5,#C"#0(#,-&Y?#C#"#%"#7,=#8(0'.)*"8./0#+,#%"#'5,)="#+,#%"#*,*()."2#9-#"-W#]5,#%"#

"88./0#+,#*.)")#"+]5.,),#8(00(&"8.(0,-#$(%W&.8"-2#b,#&)"&"#+,#%"#*.)"+"#+,#%(-#(&)(-#]5,#0(#'5,)(0#

&,-&.4(-# +,# %"# .0D5-&.8."# $,)(# ]5,# &.,0,0# ,%# +,),8A(# +,# A())().=")-,?# +,# ,-8"0+"%.=")-,?# +,#

,08(%,).=")-,# C# +,# .0&,4)")-,# "%# ),8%"*(# +,# D5-&.8."2# !"-# *.)"+"-# &"*6.;0# +,6,0# "$),0+,)# "#

,%"6()")#-5#$)($."#),%"8./0#8(0#%"#D5-&.8."2#X0.&-W/%G"+%"6.",)3.6%&.K"=88?4;AC##"

D." *(&.+." [" %6" &%3'/'3(*(%/-'" 3'*(%/G./" +%)+%" +%/-&'" +%6" 3'*(-1K" [" *a)" .66a" +%" 6'"

(/)-&H*%/-.6" +%" 6." H/(E/" 3'6%3-(L." :.&." FH)3.&" ." )H)" )%&%)" ]H%&(+')K" %)" %)-%" *H-H'"

&%3'/'3(*(%/-'".6"(/-%&('&"6'"]H%")')-(%/%"["6%"+.")%/-(+'"-./-'"."6."L(+."+%"%)-.)"*Hb%&%)K"

3'*'".6"*()*'"3'*(-1!"R%)+%"%)-%":H/-'"+%"L()-."%)"]H%":H%+%"3'/)(+%&.&)%K":%)%".")H)"

155

.3-H.6%)"+(L()('/%)K".6"*%/')"."H/")%3-'&"+%6"T'*(-1K"3'*'"6'"]H%"66.*."Ä(F%3I("H/"4)5$([

8(*50.+"+K"%/-%/+(1/+')%"3'*'"-.6"%6"%):.3('"3'6%3-(L'"%/"%6"]H%"^6.)":%&)'/.)"/'")'/"

*%+(')K")'/"6')"5(/%)!"i'&"6'"-./-'"6."3'*H/(+.+"-(%/%"H/".):%3-'"1-(3'"3%/-&.6!"!!!"6'"1-(3'"

%)" %6" :H/-'" 3%/-&.6" +%" H/" J&H:'" +%" %)-.)" 3.&.3-%&W)-(3.)!" ,)-.F6%3%/" &%6.3('/%)" %/-&%"

(JH.6%)K"/'")%"FH)3.").3.&"/(/JH/."L%/-.b.")(/'"-&.F.b.&"%/-&%"-'+')!_"XÄ(F%3I(K"=88B4"=<C""

h.6-.&W.".I'/+.&"%/" 6."+(L()(E/" "]H%"I'["+W." )%":%&3(F%"%/",H&%p."[" 6." (/3'/5'&*(+.+"+%"

.6JH/.)" %/-&%L()-.+.)" &%):%3-'" .6" :.:%6" ]H%" 6." :&%)(+%/-." +%6" T'*(-1K" +%)+%" )H"

:%&):%3-(L.K"+%bE"+%"3H*:6(&"."&.WG"+%"-&.F.b.&"3'*'"5H/3('/.&(."+%6"J'F(%&/'7?!"z.b'"%)-."

:%&):%3-(L.")%"+%)-&H(&W."%)-."(+%."+%6"J&H:'93'*H/(+.+!"i%&'K"%/"-1&*(/')"J%/%&.6%)K" 6'"

]H%"%)-.)"*Hb%&%)"%/3'/-&.&'/"["&%:'&-./"I.F%&"L(L(+'"%/"%)-."'&J./(G.3(E/K""6'"]H%".c/"

)%" %/3H%/-&." %/" 3(%&-'" J&H:'" +%" 3'*:.`%&.)K" [" 6'" ]H%" )(JH%" &%:&%)%/-./+'" %6" T'*(-1"

o,H&%p.q" 3'*'" )W*F'6'" +%" 6H3I." [" 3'*H/(+.+K" 3'/)%&L." &.)J')" Xs]H(Ga" &%)-')tC" +%" H/"

J&H:'93'*H/(+.+!""

"

Y(3%6.K" I.F(%/+'" -%/(+'" %2:%&(%/3(.)" +%" :.&-(3(:.3(E/" :'6W-(3." %/" '-&')" 3'6%3-(L')K" I.3%"

H/."+()-(/3(E/":.&-(3H6.&"&%):%3-'".6"T'*(-1"o,H&%p.q4"

#R>#\(2#L),(#]5,#"AW#,-#,-$,8."%2#90#(&)(-#4)5$(-#8(*(#]5,#-.,0&(#),8(0(8.*.,0&(?#-.,0&(222#V,)(#,-#

+.-&.0&(?#P0(T#RAW#,-222#%(#]5,#&,#),X0,#,-#,-,222#,-,#-,0&.)#+,#-,45.)#"+,%"0&,#$()#%"#$,)-(0"#]5,#&X#

]5.,),-?# ]5,# &X222# ]5.,),-# 7,)?# P-WT# x# ]5.=Y-# "6).4"# &"*6.;0# 50"# ,-$,)"0="2# x# ,-"# ,-$,)"0="#

8(*6.0"+"#8(0#%"#$")&,#+,#%"#%58A"#-(8."%2#q#-,"?#0(#,-#+,#]5,#7,04(#C#*,#,-$,)(#"#7,)#"#]5;#A()"#

"$"),8,222#\.#&"*$(8(#,0#%"#.+,"#+,#]5,#50#+W"#7"0#"#%%,4")#C#+,8.)0(-#H"]5W#,-&Y0#&(+(-K?#-.0(#50#

$(8(#8(*(#+,#),-.-&,08."?#8(*(#+,0508."?#8(*(#"')(0&")#50"#$(%W&.8"#,]5.7(8"+"2#XY(3%6.K"=8#8C""

#

7?" ,)-'" )%" .F'&+." %/" %6" .:.&-.+'" +%" :"&,)0.+"+># $(+,)?# ),-.-&,08."# C# $(%W&.8"2" V%" -&.-.K" %/" -1&*(/')"

J%/%&.6%)K" "+%"%)-.")(-H.3(E/"(/*(/%/-%"+%"+%F(6(-.*(%/-'"+%6"T'*(-1"]H%"&%):'/+%K"%/"J&./":.&-%K"."6."3'/)-&H33(E/"+%"H/"J&H:'"+%"3'&-%"*a)"F(%/"L%&-(3.6!"R'`."P').&('"NF.&&."+%"i(%+&."5H%"]H(%/K"3'/".`')"+%" -&.F.b'K" 3'/-&(FH[E".6" /.3(*(%/-'"+%"%)-."'&J./(G.3(E/!" D')" 6'J&')" )'/"*H3I')" ["*H[" (*:'&-./-%)K"+(J/')"+%" &%3'/'3%&)%!" V(/" %*F.&J'K" %6" L(J'&" [" 5H%&G."+%"%)-."*Hb%&" )W" 3&%E"H/" (//%J.F6%" 6(+%&.GJ'!"Y":%).&"+%"]H%"%/"%6"+()3H&)'")%"I.F6%"["I.J."1/5.)()"%/"H/."I'&(G'/-.6(+.+"["%/"6."(*:'&-./3(."+%"-'+')"6')"+%).:.&%3(+')K"+%"6."3'/+(3(E/"+%"(JH.6+.+"+%"-'+.)"6.)"^+'`.)_"]H%"3'/5'&*./"6."'&J./(G.3(E/K"%/"%)-.)"%/-&%L()-.)":H+'".:&%3(.&)%"H/"36.&'")%/-(*(%/-'"+%".F./+'/'" X:'&":.&-%"+%"P').&('" NF.&&."]H%K")(%/+'" )%/.+'&." +%6" J'F(%&/'" +%6" R!h!K" )%" ^%):%&.F._" ]H%" I(3(%&." *a)" [" I." I%3I'K" :'&" %6" 3'/-&.&('K"*%/')C!" T'/" )H" .H)%/3(." X(/-%&:&%-.+'" 3'*'" .F./+'/'C" %6" 3'*(-1" I." I%3I'K" :'&" 3H%/-." :&':(.K"*H[":'3'!""

156

['-'- 19S+*)%& 5)%& 55$*!0)"B& *+*)%& 5)%& f;$0$7)%=4>& ,$& 5)& W0+*!,)& !& 5)& WXO5+()& d& ,$& 5)&

WXO5+()&!&5)&W0+*!,)&

#

uH%+."36.&'"]H%K"3'*'"[.")%"*%/3('/E"%/"%6"3.:W-H6'"=K""6."+13.+."+%"6')"?8"[";8"/'")E6'"

%)" )(J/(5(3.-(L." :'&" -'+.)" 6.)" :1&+(+.)" [" .-&'3(+.+%)" ." 6')" +%&%3I')" IH*./')" 66%L.+')" ."

3.F'":'&":'6W-(3.)"+%",)-.+'"+%"J'F(%&/')"&%:&%)'&%)!",)"-.*F(1/"-%)-(J'"+%6")H&J(*(%/-'"

+%"*H3I.)"["/H%L.)" 6H3I.)K"["+%" 6.":&%)%/3(."+%"*Hb%&%)"["*.+&%)"%/" 6."%)5%&.":cF6(3.K"

:'6W-(3.>",)"%)-'"6'"]H%".F&%"H/"/H%L'":./'&.*."["6%"+."."6."*Hb%&"["."6."*.-%&/(+.+"'-&'"

6HJ.&"%/"&%6.3(E/"3'/"%6":'+%&K"3'/"6'":'6W-(3'K"6'":cF6(3'"["6'":&(L.+'!"D'"]H%"*%/3('/.F."

0.&-W/%G"+%" 6.",)3.6%&."&%):%3-'"+%" 6."%2:')(3(E/":cF6(3."+%"H/"+'6'&":&(L.+'"+%"*.+&%"

3'*'"%b%*:6'"+%"H/".3-'":'6W-(3'K"/')"+."6.":&H%F."+%"%66'!"

"

b.#8,))"*(-#%(-#(D(-?#A"C#50"#.*"4,0#]5,#+(*.0"#%"#,-8,0"#zA5*"0"y#+,#%"-#+.8&"+5)"->#%"-#:"+),-#

+,# V%"="# +,# :"C(# C# (&)"-# *5D,),-?# U"*.%."),-?# R65,%"-?# _.5+"-?# L(*"+),-# +,# +,&,0.+(-[

+,-"$"),8.+(-#(#+,#$),-(-#$(%W&.8(-?#),8%"*"0+(#C#65-8"0+(#"#-5-##A.D(-#B,0#%"#.*"4,0?#8"-.#-.,*$),#

7")(0,-3?#"# -5-#*").+(-#(#8(*$"J,)(-?#"# -5-#0.,&(-2#I,%#(&)(# %"+(?# %(-#*.%.&"),-?#+,-$%,4"0+(#+,#

%%,0(# -5# *"-85%.0.+"+2# t1u# 9%# 8(0&)"-&,# +,# 4;0,)(# ,0# ,-&"-# .*Y4,0,-# ,-# 8%")(?# C# -,# ),$.&,#

$,)*"0,0&,*,0&,# ,0# 50"# +.7,)-.+"+# +,# 8(0&,<&(-2# !(-# -W*6(%(-# +,%# +(%()# C# ,%# -5').*.,0&(#

$,)-(0"%.="+(-# &.,0+,0# "# 8()$().=")-,# ,0# *5D,),-?# *.,0&)"-# ]5,# %(-# *,8"0.-*(-# .0-&.&58.(0"%,-#

$"),8,0#z$,)&,0,8,)y#"#%(-#A(*6),-2#Xn%6(/K"=88#4"<<C#"

D." :&%)%/3(." +%" 6.)" *Hb%&%)K" 6.)" *.+&%)" %/" :.&-(3H6.&K" %/" 6.)" 6H3I.)" )'3(.6%)"

6.-(/'.*%&(3./.)K" :&'L'3E"H/." )%&(%"+%"+%F.-%)" -%E&(3')" &%6.3('/.+')" 3'/" 6'":'6W-(3'K" 6."

*Hb%&" [" 6." *.-%&/(+.+!" N/36H)'" +%/-&'" +%" 6." 3'&&(%/-%" 5%*(/()-.K" )%" F(5H&3.&'/" 6.)"

:%&):%3-(L.)" %/" +')4" 6." -%/+%/3(." ^*.-%&/.6()-._" [" 6." ^/'" *.-%&/.6()-._!" D." :&(*%&." )%"

&%5(%&%"."6."L%&-(%/-%"5%*(/()-."+%"6."+(5%&%/3(.K"[":')-H6."]H%"%)"6."*.-%&/(+.+"-&.+(3('/.6"

XF('6EJ(3."[")'3(.6C"%6"*'-'&"["1-(3."]H%"J'F(%&/."["+(&(J%"6.":.&-(3(:.3(E/":cF6(3."[":'6W-(3."

+%"%)-.)"*Hb%&%)!"D.")%JH/+.K"+%)+%" 6."L%&-(%/-%"+%6" 5%*(/()*'"+%" 6." (JH.6+.+K":&':'/%"

]H%" )'/" 6.)" 3.&.3-%&W)-(3.)" -&.+(3('/.6*%/-%" .)'3(.+.)" ." 6."*.+&%" X.6-&H()*'" 5.*(6(.&K" %6"

)%&"^3H%&:')":.&."'-&')_Cd"+%"%)-."*./%&.K".":%).&"+%"-&./)J&%+(&)%"6."+(L()(E/")%2H.6"%/"%6"

%):.3('" :cF6(3'" [" )%" I.J." :'6W-(3." ." /'*F&%" +%" 6."*.-%&/(+.+K" 6."*Hb%&" )%" HF(3." %/" H/"

%):.3('")'3(.6")HF'&+(/.+'"]H%"/'")%"+%).-.!"X0.(%&K"%/"D%F'/"["0.(%&K"=887C"

"

157

,6(G.F%-I"0.(%&"%)"H/."+%" 6.)".H-'&.)"]H%")%" (/-%&%).":'&" "%6" -%*."+%" 6.":&%)%/3(."+%" 6."

*Hb%&K":.&-(3H6.&*%/-%"6.)"*.+&%)K"%/"6.)"6H3I.)"6.-(/'.*%&(3./.)!"0%/3('/."]H%"

#!(-# +.-85)-(-# +,# %"-# +.8&"+5)"-# &)"0-'()*")(0# %"# &).%(4W"#*"+),['"*.%."[A(4")# ,0# ,%# 8.*.,0&(# +,%#

8(0&)(%# -(8."%# +,%# 8(0-,)7"+5).-*(# $(%W&.8([),%.4.(-(?# 8A(8"0+(# ')(0&"%*,0&,# 8(0# ,%# .*"4.0").(#

',*.0.-&"2# R# %"# 7,=?# .0&,))(4")(0# "# 05,7"-# "8&()"-# 8(%,8&.7"-# [8(*(# %"-# :"+),-# +,#

+,-"$"),8.+(-B"-3[#]5,#"#0(*6),#+,%#$"$,%#&)"+.8.(0"%#*"&,)0(#,*,)4.,)(0#+,#%"-#,0&)"J"-#+,#%"#

),$),-./0# $")"# ,<.4.)# $X6%.8"*,0&,# %"# +,7(%58./0# +,# A.D(-?# A.D"-# C# (&)(-# '"*.%."),-# B2223# L(*(#

),$),-,0&"8.(0,-# 8(%,8&.7"-# +,%# +(%()# C# &,0"8.+"+# *"&,)0(-?# %(-# 8(*.&;-# .))5*$.,)(0# ,0# %(-#

,-8,0").(-# $(%W&.8(-# 0"8.(0"%,-# +,# %(-# $"W-,-# 8(0# 4(6.,)0(-# "5&().&").(-?# *.%.&"),-# (# 8.7.%,-# B22232#

j*$5%-"+"-#$()# %"#*"&,)0.+"+# &)"+.8.(0"%# []5,#-5#$)($.(#"88.(0")#$X6%.8(#C#$(%W&.8(# &)"0-4),+./[?#

h,-&"-# *5D,),-# -"%.,)(0# +,%# ,08%"5-&)"*.,0&(# $).7"+(?# %%,7"0+(# -5# "045-&."# C# +(%()# "# %"-# 8"%%,-?#

8,0&)"%,-#+,#$(%.8W"?# 8"*$"*,0&(-#*.%.&"),-# C#$%"="-#$X6%.8"-?# 8(0')(0&"0+(# 8(*(#,08(0&)(0"=(#

-.*6/%.8(# "# %(-# ),4W*,0,-# "5&().&").(-# $"&).")8"%,-# 8(0# -5# $,&.8./0# 0(# 0,4(8."6%,# +,# h7.7(-# %(-#

%%,7")(0?# 7.7(-# %(-# ]5,),*(-h2# L"+"# D5,7,-# ,0#v5,0(-#R.),-# %"-#*"+),-#")4,0&.0"-#")).,-4")(0# %"#

7.+"# ,08(0&)Y0+(-,# ,0# %"# V%"="# +,#:"C(?# +"0+(# 75,%&"# &)"-# 75,%&"# 8(0# ,%# $"J5,%(# 6%"08(# ,0# "%#

8"6,="# C# %"# '(&(# +,%# A.D(# (# A.D"# ,0856).,0+(# ,%# 8()"=/0# B132# 90# b"0# b"%7"+()# %"-# .0&,4)"0&,-# +,#

L(*"+),-#)"-&),")(0#%(-#8,*,0&,).(-#8%"0+,-&.0(-#8(0#%"#&,)).6%,#,-$,)"0="#+,#A"%%")#%(-#),-&(-#+,#

-5-#-,),-#]5,).+(-#C#+(85*,0&")#,%#"&,))"+()#,-&"+(#,0#]5,#C"8W"0#B132#90#%"#8.5+"+#+,#:;<.8(?#%"-#

*"+),-#+,%#L(*.&;#95),N"# -,# 8)58.'.8")(0#50#IW"#+,# %"#:"+),?#"*"))"+"-#"#,0()*,-# 8)58,-#]5,#

,).4.,)(0#'),0&,#"%#V"%"8.(#\"8.(0"%#,0#50#-.*6/%.8(#D5,4(#+,#,-$,D(-#]5,#*"0.',-&"6"#,%#+(%()#+,#

%"#*"+),# '5-.(0"+(# 8(0# ,%# +,%# A.D(# (# A.D"# 8)58.'.8"+"#$()# %"# +,-"$").8./0# X0.(%&K" =88#4" #<=C!" X%/"D%F'/"["0.(%&K"=8874"@;C##

V%"-&.-."+%"6.".:.&(3(E/"%/"6."%)5%&.":cF6(3."["%/"6.":.&-(3(:.3(E/"^:'6W-(3._"+%"H/")%3-'&"+%"

6.":'F6.3(E/K"*Hb%&%)"["*.+&%)K"]H%"/'")%".)'3(.F."."%)-%"%):.3('"X]H%"+%)3'/3%&-E"."6')"

':')(-'&%)C!"

#

i.&."%b%*:6(5(3.&"6.":&(*%&."5'&*."+%"&%6.3('/.&"6'":cF6(3'"["6'":&(L.+'"3'/"6'":'6W-(3'"["6."

5.*(6(.K"%)"+%3(&K"6."%2-&.:'6.3(E/"+%"6'"]H%":.)."%/"%6"%):.3('":&(L.+'".6"%):.3('":cF6(3'"X["

L(3%L%&).C":'+%*')"&%-'*.&"."Ä(F%3I("]H%"I.F6."+%6"3.)'"+%"6.)"0.+&%)"+%"i6.G."+%"0.['"

+%"Y&J%/-(/.4"

"

50"# +,# -5-# 4)"0+,-# 7.)&5+,-?# -5# $(&,08."?# ,-# A"6,)# %%,7"+(# "# %"# ,-',)"# $X6%.8"# %(-# AY6.&(-?#

8(-&5*6),-#C#'()*"-#+,#7,)#,%#*50+(#]5,#-5)4,0#+,#-5#7.+"#8(&.+."0"2#V()#,-(#-5-#),50.(0,-#-(0#

8(*(# )(0+"-# +,# *"&,# (# ,085,0&)(-# $")"# &(*")# ,%# &;2# V()# ,-(# ,-,# H+,-()+,0K# ]5,# ,0,)7"# C#

+,-8(08.,)&"?#,-,#%,045"D,#&"0#+.),8&(#]5,#$"),8,#$)(7(8"&.7(2##R#*,05+(#%"-#:"+),-#A"6%"0#8(*(#

%(# A"8,0# %"-# *5D,),-# ,0# ,%# *,)8"+(# (# ,%# "%*"8;02# !"# 8")4"# -.*6/%.8"# +,# %(-# $"J5,%(-# ,-#

.*$),-.(0"0&,?#8(0*(7,+()"#$()#-5#-,08.%%,=2#XÄ(F%3I(K"=88B4"@;C""

158

D'"]H%")H3%+%"3'/"6.)"0.+&%)"+%"Y&J%/-(/."%)"]H%"%2-&.:'6./"%)-."3'-(+(./(+.+"["6."I.3%/"

L()(F6%K" :cF6(3.!" iH%+%" &%)H6-.&" H/" -./-'" :%6(J&')'" .6H+(&" ." 6.)" 0.+&%)" +%" 6." i6.G." ["

-%&*(/.&"I.3(%/+'"H/.""./.6'JW."*%3a/(3."3'/",H&%p.!",)" (*:'&-./-%"+%b.&"%/"36.&'"]H%"

/'")%"-&.-."+%"H/."'&J./(G.3(E/"+%6"*()*'"-(:'!"i%&'"-.*F(1/"%)"3(%&-'"]H%"%2()-%/"3(%&-')"

:.&.6%6()*')!",/"o,H&%p.q"-.*F(1/")%"-&.-."+%"H/."'&J./(G.3(E/"+%"5.*(6(.&%)K"5H/+.+."%/"

:&(*%&." (/)-./3(." :'&" *.+&%)" +%" +%).:.&%3(+')" :'6W-(3')!" |K" )(" F(%/" %)" 3(%&-'" ]H%" )H"

5H/+.+'&." %)" H/." :%&)'/." *H[" :&%:.&.+." [" 3'/" 3(%&-')" F.J.b%)" [" 36.&.)" (+%'6'JW.)"

:'6W-(3')K"-.*F(1/"%)"3(%&-'"]H%"/'"3'/-.F."3'/"H/."%2:%&(%/3(."+%":.&-(3(:.3(E/":'6W-(3."

:&%L(.!" 0H3I.)" +%" 6.)" *.+&%)" ]H%" 3'/5'&*.&'/" ,H&%p." %&./" X)'/C" .*.)" +%" 3.)." ]H%"

-.*:'3'" -%/W./" %2:%&(%/3(." :'6W-(3." :&%L(." [" ]H%" ).6W./" :'&" :&(*%&." L%GK" )'6.)" X)(/" )H)"

*.&(+')K" )(/" '-&')" 5.*(6(.&%)CK" .6" %):.3('" :cF6(3'" ." %/5&%/-.&)%" [" ." %2(J(&" .6" J'F(%&/'" 6."

:&%)%/-.3(E/"3'/"L(+."+%")H)"5.*(6(.&%)K"I%3I'"]H%"(*:6(3.F."5H%&-%)"3'/5&'/-.3('/%)"+%"

+()-(/-')"-(:')" X3'/5&'/-.3(E/".6",)-.+'K".")H)"*.&(+')K"."'-&')" 5.*(6(.&%)K".")W"*()*.)K"."

)H)":&':(')".H-'93'/3%:-')!!!C!"

,/" 6.)" &%H/('/%)" .3-H.6%)" +%" ,H&%p." 9." 6.)" ]H%" )%" -HL'" ':'&-H/(+.+" +%" -%/%&"

.33%)'9":H%+%"L%&)%"H/":'3'"6'"]H%"3'*%/-."Ä(F%3I(!"V("F(%/"6.)"(/5'&*./-%)"&%:'&-.F./"

]H%K" )'F&%" -'+'" ./-%)K" :'+W." I.F%&" &%H/('/%)" +%" %)-&H3-H&." 3'/"*.['&" -(/-%" ^:'6W-(3'_"

:.&."-'*.&"+%3()('/%)":H/-H.6%)"9)(JH(%/+'"'&+%/"+%6"+W."["-'*./+'"*(/H-.)9K"6.)"5'&*.)"

." 6.)" ]H%" %66.)" .6H+%/" )'/" .]H166.)" %/" 6.)" ]H%" 6." 3'/L(L%/3(." )'3(.6" )%" -&.)6.:." 3'/" 6'"

^:'6W-(3'_!"D."5H%&G."(+%/-(-.&(."["'&J./(G.-(L."%)"6."]H%")%"3'/)-&H[%"%/"%6"3'6%3-(L'"]H%"6.)"

&%c/%" %/" ./(L%&).&(')K" %/" *().)K" %/" 3H*:6%.`')K" %/" L%/+(*(.)K" %/" -.&+%)" +%" -1)K" %/"

3'*(+.)>"%/"%6"%):.3('"+%"6'"3'-(+(./'K"+%"6'":&(L.+'!"m.["(+%/-(+.+K"3'*H/(E/K"."-&.L1)"

+%"H/"^*()*'_"+'6'&d"+'6'&"]H%K"%/"*H3I')"3.)')K")%")'F&%L(L%"[")%"%/5&%/-.":'&"*%+('K"

-.*F(1/K" +%" 6." &%6(J(E/!" ,6" +&.*." 5.*(6(.&" +%" 6." +%).:.&(3(E/K" .:.&%/-%*%/-%" :&(L.+'" 9

X:1&+(+."5W)(3.C"+%"H/"5.*(6(.&K"+%"H/."I(b.K"+%"H/"I%&*./'"]H%K"%/"6."*.['&W."+%"6')"3.)')K"

)'F&%" -'+'"%/"H/":&(/3(:('K" /'"%)" )'3(.6(G.+'" [" %)"*./-%/(+'" 3'*'"H/" -%*." (/+(L(+H.6K"

3'*'"-%*."-.FcK"'3H6-.+'K"%/3%&&.+'"%/"6.)"3H.-&'":.&%+%)"+%6"I'J.&K"+%6")%/'"5.*(6(.&9"

)%" 3'*(%/G."." " )'3(.6(G.&"%/"%)-%" 3'6%3-(L'K":&(*%&'"%/":&(L.+'K" [" 6H%J'" )%" 3'/L(%&-%"%/"

.33('/%)":'6W-(3.)"36.&.)!"

159

"

HM_.7(-#%(-#%%,7")(0?#7.7(-#%(-#]5,),*(-OK#9%#+.-85)-(>#$5,0&,#,0&),#%(#$).7"+(#C#%(#$X6%.8(#

#

^D.)"*.+&%)".&J%/-(/.)" X>C" )%"I./".3'J(+'".6" 6%*."\^T'/"L(+." 6')" 66%L.&'/K"3'/"L(+." 6')"

]H%&%*')_9K"(/L%/-'&.)"+%"H/."bH)-(3(."%23%)(L.K"/'"J%/%&.6(G.F6%".6"3H%&:'")'3(.6K"bH)-(3(."

3'/" .-&(FH-')" F('6EJ(3')K" )(*FE6(3.*%/-%" I(:%&-&'5(.+." 3'*'" *.-%&/(+.+" 66'&')._!""

X0.&-W/%G" +%" 6." ,)3.6%&.K" =88?4" ;79;?C" ,6" ^L(L')" 6')" 66%L.&'/K" L(L')" 6')" ]H%&%*')_" +%"

,H&%p.K" ]H%" &%)H%/." +%)+%" '-&.)" +%*./+.)" :&'L%/(%/-%)" +%6" )H&K" :H%+%" (/-%&:&%-.&)%"

3'*'" 6." +%*./+." 6%JW-(*." /'" &%)(J/.+.K" ^-%&3._K" ^(&&.3('/.6_K" ^6'3._" :.&." *H3I')K"

3.&.3-%&W)-(3."+%"H/."*.+&%"FH)3./+'"."H/."I(b.K"66%L.+.":'&")H)")%/-(*(%/-')"["/'":'&"6."

&.GE/"/("*%/')":'&"^&.G'/%)":'6W-(3.)_d":%&'"%)"%)-'"6'"]H%")%"-&./)5'&*."%/"H/"+()3H&)'K"

H/."+%*./+."["%/"H/.":')-H&.":'6W-(3."36.&."[K"3'/-&.+(3-'&(.*%/-%K"3'/J&H%/-%K"La6(+."["

6%JW-(*.!"m.["H/.":&'F6%*a-(3."+%"3.&a3-%&"(/+(L(+H.6K":&(L.+.d"]H1"*a)"^:&(L.+'_"]H%"%6"

+'6'&!",2()-%"%6"+'6'&"*'-'&K"6."/'"&%)(J/.3(E/"/.-H&.6"+%"H/."*.+&%"]H%"/H/3."+%b.&a"+%"

FH)3.&" ."H/."I(b.K" :'&]H%"/'"I.[" 3E*'"%/5&%/-.&":1&+(+." )%*%b./-%"/(" I.[":&H%F.)"+%"

/.+.!",)-'")%")'3(.6(G.".6"%/3'/-&.&"%3'"%/":&'F6%*a-(3.)")(*(6.&%)"%/"'-&.)"5.*(6(.&%)K"]H%"

3'*:&%/+%/K" ]H%" ).F%/K" ]H%" 3'*:.&-%/d" ." :.&-(&" +%" %66'" %)" ]H%" )%" 3'/)-&H[%"

3'6%3-(L.*%/-%"H/."+%*./+."["H/.":')-H&.":'6W-(3."36.&.!"R%):H1)"+%"3'6%3-(L(G.&)%"%)-%"

+'6'&K" )%" %2:'/%" :cF6(3.*%/-%" X%/" H/(5'&*%)" +%" 6H-'K" %/" 6')" :6./-'/%)K" %/" IH%6J.)" +%"

I.*F&%K"%/".3-')")(*FE6(3')"3'*'"%6"+%"6')"3&H3(5(b')K"+%6"]H%")%"I.F6.&a"*a)".+%6./-%7;C!"

,6" +'6'&K" .6" 3'6%3-(L(G.&)%K" .6" 3'*:.&-(&)%K" :HF6(3.&)%K" )%" 6%J(-(*." [K" +%" .6JH/." *./%&."

XI.)-." 3(%&-'" :H/-'CK" )%" ^+(6H[%_" [" )%" 3'/L(%&-%" %/" *'-'&K" %/" +%*./+.K" %/" .33('/%)"

:'6W-(3.)!!!"%/"*'L(*(%/-'!"DH%J'")%"%2-(%/+%"."'-&.)"%)5%&.)!""Y6"%/3'/-&.&"5H%&G."%/"%)-%"

3'6%3-(L'K"%)-%"+'6'&"[."3'/L%&-(+'"%/"+()3H&)'K"LH%6L%"."6."%)5%&."^:&(L.+._"X)("(/)()-(*')"

%/")%JH(&")%:.&./+'"6.)"+')"%)5%&.)K"]H%"/'"+%b./"+%"-'3.&)%CK"."6'"(/+(L(+H.6K"."L%3%)"3'/"

%3'"["'-&.)")(/"%3'"%/"%6")%/'"5.*(6(.&K"[")%"3'/L(%&-%"%/"6."5'&*."+%"+.&6%")%/-(+'"."6."L(+."

["%/"H/."5'&*."+%"I.3%&)%"3.&J'"["^*./%b.&_"X/'")H:%&.&C"%6"+H%6'!#Y(3%6."/'":'+&W."+%3(&"

%)-'"*%b'&4"

7; ,/"%6".:.&-.+'"+%":"&,)0.+"+>#$(+,)?#),-.-&,08."#C#$(%W&.8"

160

!>#x#,-(#]5,#+.8,-#+,#,-,#+(%()#8(*(#8(%,8&.7.="+(?#P&X#8(*(#,0#]5;#*(*,0&(#-.,0&,-#]5,#8"*6."T#

q#-,"?#-.#A56(#50#+(%()#.0+.7.+5"%#C#,0#50#*(*,0&(#-,#8(07.)&./#,0#8(%,8&.7.="+(?#,0#]5;#*(*,0&(#

,-#]5,222#

R>#x(#8),(#]5,#,%#.0+.7.+5"%#,<.-&,2#b,#%%,7"2#x#C(#%(#%%,7(2#V,)(?#"AW?#-,#D50&"02#9-#8(*(#-.#-,#+.%5C,2#

b,#+.%5C,#*.#-,0&.)#$()#,%#-,0&.)#+,#&(+"-2#L),(#]5,#-,#+.%5C,#$()# %"#"8(4.+"#]5,#A"C2#b.,0&(#"# %"-#

+(J"-#*5C# -(%.+")."-?#*5C#8(*(222#4,0&,#*5C# -.08,)"?#*5C# &(%,)"0&,?# C# 8(*(#*5C?#,-&,222# ,0#50#

"*6.,0&,#*5C#')"&,)0"%2#q#-,"?#-,#*,#A"8,#"-W#8(*(222#$5,-#8(*(#6(0.&(?#8(*(#-.#&,#8(6.D")"#"%4(2#

XY(3%6.K"=8#8C""

,/"%)-."3.:.3(+.+"+()3H&)(L.K"+%"3&%.3(E/"["*'L(*(%/-'"%)"]H%")%"*./(5(%)-."H/."3.&.K"H/."

+%" 6.)" +')"+(*%/)('/%)"+%6" :'+%&K" 6." ^J%/%&.+'&._K" +%" 6.)" ]H%"T.6L%(&'"I.F6.7<4" .]H%66."

]H%"^%)"+%6"'&+%/"+%" 6."3&%.3(E/K"["+%"%66." )%"+%&(L." 6.":')(F(6(+.+"+%":&'+H3(&"+()3H&)'K"

ÇL%&+.+Ç"["+%)%'!_?8"XT.6L%(&'K"=88A4"#<C"uH1"*a)"%L(+%/-%"]H%"%6"+()3H&)'"]H%"/'")E6'"%)"

&%:&'+H3(+'K" )(/'" .:&':(.+'" [" :&'+H3(+'!!!" [" %6" +%)%'" ]H%" 6.)" *./-(%/%" L(L.)K" %/"

*'L(*(%/-'!"

m.["H/"-%&3%&"*'*%/-'K"H/."-%&3%&."+(&%33(E/"+%6"+()3H&)'4"%)%"+()3H&)'"]H%")%"5'&*E"

+%)+%"6'":&(L.+'K"-'*E"5'&*."%/"6'"3'6%3-(L'"[")%"I(G'":cF6(3'K")%"3'/L(&-(E"%/"+%*./+.K"

&%J&%)E".:&':(.+'":.&."+.&6%")%/-(+'"." 6."%2()-%/3(."*()*.K"I.["H/"*'*%/-'"%/"]H%")%"

]H%+.")E6'"%/"%6"%):.3('":cF6(3'K")%"+%b."3'*'"+%*./+.K"3'*'":')-H&.":'6W-(3.K":%&'")%"

-&./)5'&*." .6" (/-%&('&K" %/" 6'" :&(L.+'!" $(%/%" ]H%" L%&K" H/'K" 3'/" %6" -(%*:'" -&./)3H&&(+'" [K"

)'F&%" -'+'K" 3&%'" ['K" 3'/" %6" *'*%/-'" +%" 6." L(+." +%" %)-.)" *Hb%&%)!" P%5(&(1/+'*%K" %/"

%):%3W5(3'K".6" 3.)'"+%"R'`."P%[/.!"i'&")H"%+.+K" (+%/-(5(3'"%/"%66.)"%6" &%3'/'3(*(%/-'"+%"

H/."5.)%"c6-(*."%/"6."]H%"[."-'+."6."L(+.":.).+.")%"L%"3'*'":.).+'K"["/'"3'*'"%6%*%/-')"

:.&." H/" 5H-H&'!" D." /.&&.-(L.K" %/" +()-(/-')" *'*%/-')K" +." (/+(3(')" +%" %)-%" &%3H%/-'" %/"

&%-&'):%3-(L.K"["/'"%/":&'):%3-(L.!"D'"+(3%/"+%"+()-(/-."*./%&.K":%&'"]H%+."36.&'"]H%"/'"

%)" ]H%" %)-.)"*Hb%&%)" /'" %)-1/" 3'/)3(%/-%)" +%6" :.)'"+%6" -(%*:'" [" +%" -'+')" 6')" :')(F6%)"

+%)-(/')" +%" )H)" I(b.)" [" )H" I%&*./'!" i%&'" %)-'" )E6'" 6'" I.F6./" %/" %6" %):.3('" :&(L.+'!" D."

+%*./+.K"6%JW-(*.K")(JH%"5H%&."%/"H/"+()3H&)'"(/.6-%&.F6%"%"(//%J'3(.F6%!##

7<" Y6H+(%/+'"["&%-'*./+'"6.":%&):%3-(L."+%".H-'&%)"3'*'"h'H3.H6-K"R%6%HG%"["T&'G(%&K"]H%"3'/3(F%/"%6"

:'+%&"/'"3'*'".6J'"]H%")%":')%.K")(/'"3'*'".6J'"]H%"3(&3H6."%/"5'&*.)"+%)(JH.6%)"3'/5(JH&./+'"&%6.3('/%)".)(*1-&(3.)!"XT.6L%(&'K"=88AC"

?8 D.":&(*%&.K"6."^&%:&%)(L._K")%"&%5(%&%"."6."3.:.3(+.+"+%"/%J.&K":&'I(F(&K"3.)-(J.&!"XT.6L%(&'K"=88AC"

161

#

['[ M!#$0"+,!,>&W),$0B&0$%+%#$"(+!&D&W)5H#+(!&

"T'*'"[.")%"I."L%/(+'"&%:(-(%/+'"."6'"6.&J'"+%"%)-%"-&.F.b'K"6."*.-%&/(+.+"bH%J."%/"%)-.)"

I()-'&(.)"H/":.:%6"]H%"/'":H%+%"(J/'&.&)%K"[":H%+%"-'*.&)%"3'*'"H/"%b%"+%"./a6()()"]H%"

/')" :'+&W." .[H+.&" ." %/-%/+%&K" /'" %2I.H)-(L.K" :%&'" )W" :.&3(.6*%/-%K" .6JH/.)" +%" 6.)"

.33('/%)K" -'*." +%" +%3()('/%)K"*'-(L.3('/%)" +%" %)-.)"*Hb%&%)K" :.&-(3H6.&*%/-%" .]H166.)"

]H%")%"&%6.3('/./"3'/")H":.&-(3(:.3(E/"%/"%6"T'*(-1"o,H&%p.q!"i'+&W.")%&"1)-%"H/'"+%" 6')"

&%:%&-'&(')"^"# %"#*"0(_"+%" 6')"]H%"V3I~-G"["DH3p*./"I.F6./K"H/'"+%" 6')" "*.&3')"+%" 6.)"

.33('/%)" +%" %)-.)"*Hb%&%)" +%/-&'" +%6" 3H.6" :H%+%/"*'L%&)%" [" -.*F(1/" -&.)J&%+(&" '-&')"

%):.3(')!" |." )%" I(G'" H/" F&%L%" 3'/-%2-'" +%" %)-.)" *Hb%&%)" %/" &%6.3(E/" ." 3E*'" 5H%&'/"

%+H3.+.)" [" 3E*'" I./" L(L(+'" 6." *.-%&/(+.+" [" %6" :.:%6" +%" *.+&%):')." .-&(FH(+'"

)'3('3H6-H&.6*%/-%!"YI'&."F(%/K"]H%+."./.6(G.&"3'/3&%-.*%/-%"6."&%6.3(E/"+%"%)-'"3'/")H"

:.&-(3(:.3(E/" :'6W-(3." [K" L(/3H6.+'" ." %66'K" 6." '-&." 3.&." +%" 6." *.-%&/(+.+K" 3'*c/*%/-%"

%/-%/+(+." *a)" 3'*'" H/" 6HJ.&" +%" )H*()(E/!" $'*./+'" 3'*'" :.&-(+." 6." :%&):%3-(L." +%"

:'+%&"]H%"I%*')"%)-.+'"H-(6(G./+'K")%"./.6(G.&a"6."*.-%&/(+.+"-.*F(1/"3'*'"H/"3.*:'"["

a*F(-'"3'/)-&H(+'":'&"&%6.3('/%)"+%":'+%&!"

&

['['. M!#$0"+,!,>&W),$0&D&0$%+%#$"(+!&

#

I,%#+(6%,#'.%(#+,#%"#*"&,)0.+"+>#-56()+.0"8./0#Cw(#%.6,)"8./0#

"

Y+%*a)" +%6" 6HJ.&" +%" )H*()(E/" [" :&(L.3(E/" 3'*c/*%/-%" .-&(FH(+'" ." 6." *.-%&/(+.+K" 6."

:%&):%3-(L."5%*(/()-."[.")%"I.FW.":6./-%.+'" 6.":')(F(6(+.+"+%"1)-."3'*'"H/."%2:%&(%/3(."

&"*6.;0"6(F%&.+'&."XVa/3I%G"z&(/J.)K"=88@C!"

m.F6./+'" +%" 6.)" &%6.3('/%)" +%" :'+%&" %2()-%/-%)" +%/-&'" +%6" )%/'" 5.*(6(.&K" i(6.&" T.6L%(&'"

.5(&*."]H%"%2()-%/"+')"6W/%.)"+%":'+%&4"6.":&(*%&."+%"J1/%&'"X+%"I'*F&%)"."*Hb%&%)CK"["6."

)%JH/+." J%/%&.3('/.6" X+%" :.+&%)" ." I(b')C!" m.[" H/." (/+()3H-(+." &%6.3(E/" +%" :'+%&" +%" 6."

*.+&%" )'F&%" 6')" I(b')d" %)" )'F&%" %66')" ]H%" )%" %2:&%)." %/" :&(*%&" 6HJ.&" %6" :'+%&" +%" 6.)"

*Hb%&%)!" ^,6" :'+%&" +%" 6." *.+&%K" [" %6" 3.)-(J'" ]H%" :&'L(%/%" +%" %66.K" 3H%/-." 3'/" *.['&"

162

6%J(-(*(+.+" %/" %6" )%/'"+%" 6." 5.*(6(.K" -(%/%"*.['&" 3.&J." +%" kL%&+.+lK" 6'" ]H%" %/" -1&*(/')"

%)-&(3-')"+.&W."6HJ.&".":%/).&"]H%")%"-&.-."+%"H/":'+%&"*.['&K":'&"6'"*%/')"%/"&%6.3(E/"."

6')"I(b')!_"XT.6L%(&'K"=88A4"@7C"

,/" H/." 3H6-H&." 3'*'" 6." /H%)-&.K" 6." *%2(3./.K" (//%J.F6%*%/-%" :%&*%.+." [" +%" .6JH/."

*./%&." 5H/+.+." 3H6-H&.6*%/-%" )'F&%" 6." 5(JH&." [" 6." .+'&.3(E/"." 6."y(&J%/"+%"ZH.+.6H:%K"

:H%+%"(+%/-(5(3.&)%"%)-."+'F6%"3.&."+%"6."*Hb%&"["6."*.+&%!"X0.(%&K"=88#d"T.6L%(&'K"=88AC"

T.6L%(&'"./.6(G."

#,%#$,-(#,-$,8W'.8(#+,%#85%&(#45"+"%5$"0(#,0#%"#8(0-&)588./0#-.*6/%.8"#+,#%"#*"&,)0.+"+2#R%#8(%(8")#

,0#50#$).*,)#$%"0(#%"#.*"4,0#+,#%"#:"+),?#]5,#-,#7.085%"#8(0#-5-#A.D(-#-.0#.0&,)*,+."8./0#"%450"#

),*.&,?# 8(*(# ,0# %"# '"*.%."?# "# 50# 7W085%(# ),"%?# 8(0-.-&,0&,?# ,0&),# *"+),# ,# A.D(-?# 8(0# 50"# '.45)"#

$"&,)0"#A.$(&;&.8"*,0&,#$(+,)(-"#$,)(#-.,*$),#"5-,0&,2#90#,-&,#-,0&.+(?#%"#"+()"8./0#"#%"#_.)4,0#

+,#d5"+"%5$,?#"%#),-8"&")#%"#+(6%,#+.*,0-./0#+,#%"#:"+),?#-.*5%&Y0,"*,0&,#"*()(-"#C#$(+,)(-"?#

-"%7"+()"# +,# -5-# A.D(-# "# %"# 7,=# ]5,# -"%7"+"# $()# ,%%(-?# -.0# )(*$,)# 8(0# ,%# 50.7,)-(# -.*6/%.8(# +,%#

8"&(%.8.-*(?#$,)*.&,#"-.*.%")%(#"#50"#$)Y8&.8"#),-.-&,0&,#]5,#),'5,)="# %(#*"&,)0"%#+,-+,#50# %54")#

]5,#0(#,-#+,# -5*.-./0# -.0(#+,#$(+,)2#^0#$(+,)#]5,# -,#,D,)8,?# ,0#$).08.$.(?# -(6),# %(-#A.D(-# C#]5,#

.))"+."#-(6),#&(+"-#%"-#),%"8.(0,-#'"*.%."),-2"XT.6L%(&'K"=88A4"=B8C"&

T'*'" [." )%" I.FW." :6./-%.+'K" 6." &%):'/).F(6(+.+" )'3(.6" [" 3H6-H&.6*%/-%" .+bH+(3.+." X[" .6"

5(/.6"+%" 3H%/-.)K" 3'*'" &%)H6-.+'"+%"%66'K" .H-'.+bH+(3.+.C"+%" 6')"I(b')" ["%6"F(%/%)-.&"+%6"

I'J.&K"["+%")H)")%&%)"]H%&(+')K"+%"6')"+%*a)"X[")E6'"I.)-.".6"5(/.6"+%"%66.CK"J%/%&."*H3I'"

).3&(5(3('" [" )H5&(*(%/-'!" V(/" %*F.&J'K" %)-')" c6-(*')" :H%+%/" 3'/L%&-(&)%K" -.*F(1/K" %/"

5H%/-%"+%":'+%&"."*%+(./'"["6.&J'":6.G'!"

"R%#*.-*(#&.,*$(#]5,#%(#',*,0.0(#-,#8")"8&,).="#+,-+,#%"#'.45)"#+,#%"#*"+),#-5').+"?#8(*$),0+,#%"#

.+,"# +,# %"#*"+),# '5,)&,# C# $(+,)(-"2# t222u# !"#*"+),# -,#*5,-&)"# -.*5%&Y0,"*,0&,# 8(*(# -5').+"# C#

'5,)&,# $()]5,# -5# '()&"%,="# $)(7.,0,# +,%# -5').*.,0&(# *.-*(?# -,# 85%&.7"# C# -,# +,*5,-&)"# ,0# ,%#

-5').*.,0&(2#d)"8."-#"#,-&"#'()&"%,="#$5,+,#-"%.)#+,%"0&,#+,#%(-#+,-"-&),-#'"*.%."),-#$")"#-(6),7.7.)?#

C# "-W# 8).")# "# -5-# A.D(-2# t1u# -5# '5,)="# t1u# )")"# 7,=# -,# ,<$),-"# 8(*(#+,',0-"# +,# -W#*.-*"# $,)(# ,0#

8"*6.(#-,#*"0.'.,-&"#),85)),0&,*,0&,#8(*(#+,',0-"#+,#%(-#A.D(-2&XT.6L%(&'K"=88A4"=@89@#C""Y)WK"%6")H5&(*(%/-'"bH%J."H/"+'F6%":.:%6"[")%"3'/L(%&-%K".+%*a)"+%"H/")(J/'"+%")H*()(E/"

.-&(FH(+'"["+%*./+.+'")'3(.6*%/-%"." 6."*Hb%&K"%/"H/"%6%*%/-'"+%"6%J(-(*.3(E/"./-%"6')"

I(b')K":&(*%&'K"["+%):H1)"./-%"6.")'3(%+.+!",6")H5&(*(%/-'"6%J(-(*."%6":'+%&"+%"6.)"*.+&%)!"

XT.6L%(&'K"=88AC"

163

T.6L%(&'K"%/")H"%)-H+('K")%":%&3.-."+%"]H%"%/"6')"-%)-(*'/(')"+%")H)"%/-&%L()-.+')"^%2()-%/"

&%5%&%/3(.)" ." 3'/5&'/-.3('/%)"+(L%&).)"%/" &%6.3(E/" 3'/"%6" :.+&%K" %6"*.&(+'K" %6" I%&*./'9

:.+&%K"(/36H)'"6.")H%J&.K":%&'"/'"I.["&%J()-&'".6JH/'"]H%")%"&%5(%&."."6."3'/5&'/-.3(E/"3'/"

6." *.+&%K" 6'" ]H%" &%5H%&G." 6." (+%." +%" 6." .6-." 6%J(-(*(+.+" %" (/-%&/.6(G.3(E/" +%6" :'+%&"

*.-%&/'_"XT.6L%(&'K"=88A4"=@=C!""

i'+%*')":.&-(&"+%"6."(+%."+%"T.6L%(&'K"]H(%/K")(%/+'"3'/J&H%/-%"3'/"6."3'/3%:3(E/"

+%6":'+%&K"+%")H)"&%6.3('/%)"["+%")H)".3-'&%)"3'*'"+%"^3'/)()-%/3(.)"6W]H(+.)_"X:'&"+%3(&6'"

+%" .6JH/." 5'&*.CK" *EL(6%)K" ]H%" *H-./" [" )%" .3-H.6(G./" 3'/)-./-%*%/-%K" :H+(1/+')%"

&%L%&-(&" %/" +()-(/-')" *'*%/-')K" I.F6." +%" H/." +%" 6.)" %)-&.-%J(.)" +%" &%)()-%/3(." :'&"

%23%6%/3(."3.:.G"+%")HFL%&-(&"%6"'&+%/"[":'/%&"%/"3H%)-(E/"6')"6HJ.&%)"+%":'+%&4"

#L"6,# -,J"%")# ]5,# %"#*(7.%.+"+#+,# %"-# ),%"8.(0,-# ,0# ,-&"-# 8(*$%,D"-# ),+,-#+,#$(+,)# ),85)),#"#50#

*,8"0.-*(# '),85,0&,># %"# .07,)-./0#+,# %"-#$(-.8.(0,-#+,#+,-7,0&"D"?# &)(8Y0+(%"-#,0#$(-.8.(0,-#+,#

$(+,)2#^&.%.=")#%"#$(-.8./0#+,#-56()+.0"8./0#$")"#,%5+.)#),-$(0-"6.%.+"+,-#]5,#+,6,0#-,)#"-5*.+"-#

$()# ,%# (&)(p# ,-4).*.)# ,%# -5').*.,0&(# 8(*(# 50# ")*"# +,# "85-"8./0# C# "# %"# 7,=# +,# "5&(%,4.&.*"8./0p#

&)"0-'()*")#,%#,08.,))(#,0#8(&(#+,#$(+,)p#8(07,)&.)#%"#"5&(0(*W"#,8(0/*.8"#,0#(6%.4"8./0#]5,#"&"?#

(#6.,0#,%#zC54(y#+,%#&)"6"D(#,0#.0-&)5*,0&(#+,#"5&(0(*W"?#-(0#-/%(#"%450(-#,D,*$%(-#+,#05*,)(-"-#

.07,)-.(0,-#+,#%"#7,0&"D"#,0#+,-7,0&"D"?#C#7.8,7,)-"2"XT.6L%(&'K"=88A4"@?C""R%)+%" %)-." :%&):%3-(L.K" +%" 6." (/L%&)(E/" +%" 6.)" :')(3('/%)" +%" +%)L%/-.b.K" " :H%+%"

(/-%&:&%-.&)%" %6" I%3I'" +%6" ^)%&"*.+&%_" %/" %)-')" 3.)')" X%/" %6" 3.)'" +%" 6.)" +')"*.+&%)C!"

iH%+%"3'/)(+%&.&)%"3'*'"H/"+%F%&"(*:H%)-'K"&%):'/).F(6(+.+").3&(5(3(.6K"-&.F.b').K"3'*'"

H/"[HJ'"3'/"%6"]H%"+%F%"3.&J.&)%" -'+." 6."L(+.!" V(/"%*F.&J'K" -.*F(1/"%)"H/." 5H%/-%"+%"

:'+%&")'3(.6*%/-%"&%3'/'3(+."["6%J(-(*.+.K"(/36H)'":'&"%6"'&+%/":.-&(.&3.6"+'*(/./-%!"i'&"

6'" -./-'K" 6."*.-%&/(+.+" )(&L%K"%/":&(*%&" 6HJ.&K" 3'*'"%):.3('"+%".H-'/'*W."[" ^6(F%&-.+_K"

&%.6(G.3(E/":%&)'/.6K"6HJ.&"+%").-()5.33(E/":%&)'/.6K"%-3!",/")%JH/+'"6HJ.&K")%".6H+%"."%66.K"

.6" :%)'" [" ." H/." &%(L(/+(3.3(E/" :%&)'/.6" +%6" )%&" *.+&%" ).3&(5(3.+.K" +%" I()-'&(.)" +%"

+(5(3H6-.+%)K" +%" )H5&(*(%/-'" X]H%" 6'" )'/K" )E6'" ]H%" )%" &%-'*./" [" )%" *H%)-&." 6." :.&-%"

).3&(5(3(.6"3'*'"H/'"+%"6')"L.6'&%)"*a)".:&%3(.F6%K"3'*'"[.")%"I.FW."*%/3('/.+'C!",)'"6.)"

:'/%K"+(J.*')K"%/"H/"6HJ.&":&(L(6%J(.+'":.&."-%/%&"%6"+%&%3I'"+%".3-H.&K"+%3(&K"%2:&%).&)%K"

%2(J(&"["+%*./+.&K"[")%"-'*."-.*F(1/"3'*'"H/"6'J&'":%&)'/.6!",/"-%&3%&"6HJ.&K"%)"-.*F(1/"

%6":'+%&"*.-%&/'"%6"]H%":%&*(-%"]H%")%"+1"H/."8(0')(0&"8./0K"-1&*(/'"]H%"H-(6(G."T.6L%(&'"

X=88AC" .6" I.F6.&" +%" H/" -(:'" +%" &%)()-%/3(." ]H%" FH)3." (/L%&-(&" %6" 6HJ.&" +%" :'+%&!" D."

164

3'/5&'/-.3(E/")%&W."%/"%)-%"3.)'"%6"%/5&%/-.*(%/-'"+(&%3-'"."6')"%):')')K"."6.".:&':(.3(E/"

+%" '-&')" %):.3(')" -&.+(3('/.6*%/-%" .)(J/.+')" ." 6')" I'*F&%)K" 3'*'" 6'" %)" %6" %):.3('"

:'6W-(3'!"

"

y%*')K" :H%)K" +')" %)5%&.)" %/" 6.)" ]H%" %)-%" )H5&(*(%/-'" *.-%&/'" 5H/3('/." 3'*'"

6%J(-(*.3(E/!" ,6" %):.3('" W/-(*'K" ^:&(L.+'_K" +%" 6." 5.*(6(.K" ]H%" bH)-(5(3." [" 6%J(-(*." 6."

^)HFL%&)(E/_"+%6"'&+%/"%/"%6"I'J.&"X6.)".H)%/3(.)K"%6"^.F./+'/'_"+%"6."*.+&%"+%")H"I'J.&"

[" +%6" &%)-'" +%" )H" 5.*(6(." :'&" 6." Fc)]H%+." +%" H/." I(b.CK" [" %/" %6" %):.3('" :cF6(3'K" 3'*'"

6%J(-(*.3(E/"+%" 6." '&J./(G.3(E/" ./-%" 6." )'3(%+.+"%/" J%/%&.6K" [" +%" 6." +%*./+."+(&%3-." .6"

,)-.+'!"

,/" 6." %)5%&."+%" 6'" W/-(*'":'+%*')"+%3(&K" %/" -1&*(/')" J%/%&.6%)" \" %/"%6" :&E2(*'"

.:.&-.+'"X:"&,)0.+"+#C#$(%W&.8"C")%".I'/+.&a"%/"%66'9K"]H%"%)"%)-%")H5&(*(%/-'"+%"*.+&%"%6"

]H%K"%/"%6"3.)'"+%"P%[/."["Y3%6.K"6%J(-(*.")H".3-H.&":'6W-(3'"X.6"*%/')":.&3(.6*%/-%K"3'/"

)H)" -%/)('/%)" [" +(5(3H6-.+%)" .)'3(.+.)C" ./-%" )H)" *.&(+')K" I(b')" [" 5.*(6(.K" %/" :&(*%&."

(/)-./3(." (/3'*:.-(F6%" 3'/" 6')" +%F%&%)" [" %6" 6HJ.&" .-&(FH(+')" ." 6.)" *.+&%):').)" %/" )H"

I'J.&!",/"%6"3.)'"+%"Y(3%6.K"%)"%6" )H5&(*(%/-'"+%"*.+&%" X+%" 6.")H[.C"H/'"+%" 6')"*'-'&%)"

:&(/3(:.6%)"3'/L%&-(+'"3.)("%/"*./+.-'":.&.")%JH(&"FH)3./+'".")H"I%&*./'"[":.&-(3(:.&"%/"

%6"T'*(-1!""

,/"6."%)5%&."+%"6'":cF6(3'K"*%":.&%3%"]H%"/'"I.["*%b'&"&%:&%)%/-.3(E/"+%6"H)'"+%6"

:.:%6"+%"6."*.+&%"]H%")H5&%":'&")H"I(b'"+%).:.&%3(+'"X'")H"I(b."+%).:.&%3(+.C"]H%".]H%6"

.3-'K" (/+H+.F6%*%/-%" :'6W-(3'" [" :&'5H/+.*%/-%" 3.&J.+'" " )(*FE6(3.*%/-%K" %/" %6" 3H.6"

.6JH/.)"+%" 6.)"*.+&%)"+%6" T'*(-1" o,H&%p.qK" 3'*'".3-'"+%":&'-%)-.K" " +%3(+(%&'/":.&.&)%"

5&%/-%"."i.6.3('"O.3('/.6".*.&&.+.)"."H/.)"3&H3%)!",/":.6.F&.)"+%"0.(%&4"

"

L(*(#),$),-,0&"8.(0,-#8(%,8&.7"-#+,%#+(%()#C#&,0"8.+"+#*"&,)0(-?# %(-#8(*.&;-# .))5*$.,)(0#,0# %(-#

,-8,0").(-# $(%W&.8(-# 0"8.(0"%,-# +,# %(-# $"W-,-# 8(0# 4(6.,)0(-# "5&().&").(-?# *.%.&"),-# (# 8.7.%,-# t222u2#

j*$5%-"+"-#$()# %"#*"&,)0.+"+# &)"+.8.(0"%# []5,#-5#$)($.(#"88.(0")#$X6%.8(#C#$(%W&.8(# &)"0-4),+./[?#

h,-&"-# *5D,),-# -"%.,)(0# +,%# ,08%"5-&)"*.,0&(# $).7"+(?# %%,7"0+(# -5# "045-&."# C# +(%()# "# %"-# 8"%%,-?#

8,0&)"%,-#+,#$(%.8W"?# 8"*$"*,0&(-#*.%.&"),-# C#$%"="-#$X6%.8"-?# 8(0')(0&"0+(# 8(*(#,08(0&)(0"=(#

-.*6/%.8(# "# %(-# ),4W*,0,-# "5&().&").(-# $"&).")8"%,-# 8(0# -5# $,&.8./0# 0(# 0,4(8."6%,# +,# h7.7(-# %(-#

%%,7")(0?# 7.7(-# %(-# ]5,),*(-h2# t222u# 90# %"# 8.5+"+# +,# :;<.8(?# %"-# *"+),-# +,%# L(*.&;# 95),N"# -,#

8)58.'.8")(0# 50# IW"# +,# %"# :"+),?# "*"))"+"-# "# ,0()*,-# 8)58,-# ]5,# ,).4.,)(0# '),0&,# "%# V"%"8.(#

\"8.(0"%#,0#50#-.*6/%.8(#D5,4(#+,#,-$,D(-#]5,#*"0.',-&"6"#,%#+(%()#+,#%"#*"+),#'5-.(0"+(#8(0#,%#

165

+,%#A.D(#(#A.D"#8)58.'.8"+"#$()#%"#+,-"$").8./0#B:".,)?#EffF>#FiE32_"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@?C"""

,)" -.*F(1/" H/" I%3I'" ]H%" %6" -&.F.b'" %/" 6." '&J./(G.3(E/" /'" %)-a" %2%/-'" +%" ).3&(5(3('" ["

)H5&(*(%/-'"X6."3'/)-(-H3(E/"*()*."+%"6."'&J./(G.3(E/"6'"(*:6(3."+%"%/-&.+.C!"V(/"%*F.&J'K"

-'+')"%)-')").3&(5(3(')")'/"H/."5'&*."+%"6(F%&.3(E/"["6."5'&*."+%"6'J&.&"%6"*.['&"F(%/%)-.&"

:')(F6%"+%/-&'"+%"%).)"3'/+(3('/%)"[" )(-H.3('/%)"+%"+'6'&"3'/)-./-%!",)%" ).3&(5(3('"+%" 6."

6H3I."%)"%6"]H%"6%"+.")%/-(+'"."6."L(+."+%"%)-.)"*Hb%&%)"["%6"]H%"6.)"*./-(%/%"%/":(%"["%/"

*'L(*(%/-'!"R%):H1)"+%" (/-%J&.&)%".6"T'*(-1K" &%)H6-.K"*a)"]H%"/H/3." 9'" -.6" L%G" ^.I'&."

)W_9K"H/"%/'&*%").3&(5(3('"%6"]H%+.&)%"%/"3.)."["I.3%&"%)'"]H%"%66.)K"3'*'"*.+&%):').)K"

^6%)" -'3._"I.3%&!"^T'/")H)":6./-'/%)":&'-%)-.)K"LH%6-.)"3.*(/.+.)"["IH%6J.)"+%"I.*F&%K"

6.)"*.+&%)"*"&,)0")(0#%/"6."LW.":cF6(3."%/"H/"*H/+'".6"&%L1)K"]H%"L('6%/-.*%/-%"6.)").3E"

+%" )H" 3.)." :.&." &%.6(G.&" 6'" :&(L.+'" %" W/-(*'" +%" )H)" 5H/3('/%)"*.-%&/.)" %/" 6')" :.&]H%)K"

:6.G.)K" '5(3(/.)" JHF%&/.*%/-.6%)" [" '&J./()*')" (/-%&/.3('/.6%)!_" X0.(%&K" %/" D%F'/" ["

0.(%&K" =8874" @<C" ,6" -&.F.b'" +H&'K" 6')" &(%)J')" 3'&&(+')K" %6" *(%+'K" %6" +%)J.)-%" 5W)(3'" ["

%*'3('/.6" X.H/.+'" ." 6." %+.+" [" 3'/+(3('/%)" +%" ).6H+" +%" 6.)" ^+'`.)_C" ]H%" (*:6(3./" H/."

*.&3I.K"H/."Fc)]H%+."%2I.H)-(L.K"H/":6./-E/K"H/."IH%6J."+%"I.*F&%K" )%"3'/L(%&-%/"%/"

%2:%&(%/3(.)"6(F%&.+'&.)"]H%")%"(/-%&:&%-./K"."5(/.6"+%"3H%/-.)K"*H3I'"*%/')").3&(5(3(.6%)"

]H%"%6"]H%+.&)%"%/"3.)."^)%/-.+.)"+%"F&.G')_!",)" 6'"^c/(3'"]H%")%":H%+%"[")%"&.,0,"]H%"

I.3%&!"^O'"I.["+%"'-&._K"["^/'"%)":'&"JH)-'_!&

166

['['- M!#$0"+,!,&D&W)5H#+(!&

&

!^ :b$0(+(+)&,$\%^()"%#0;(#+*)&

"

P%):%3-'"." 6." (/-%&:&%-.3(E/"+%" 6." .3-(L(+.+":'6W-(3." 3'*'"H/.":')(F6%"%2-&.:'6.3(E/"+%6"

^)%&"*Hb%&_K" +%6" ^)%&"*.+&%_K" L.6+&W." 6." :%/.K" ./-%)"+%" %/-&.&" .6" ./a6()()K" H/." )H%&-%"+%"

%b%&3(3('"+%X)C3'/)-&H3-(L'K"*%/3('/./+'"-&%)"3H%)-('/%)4"

"

#C i.&-.*')"+%6"+'F6%"5(6'"+%6"]H%"I.F6.",6(G.F%-I"0.(%&".6"./.6(G.&"%6"(*:.3-'"+%"6')"

3'*(-1)" +%" *.+&%)" %/" Y*1&(3." D.-(/." ^!!!6')" 3'*(-1)" +%" *.+&%)" /'" +%b.F./" +%"

)(J/(5(3.&"H/."/.L.b."+%"+'F6%"5(6'":.&."6.":%&):%3-(L."+%"J1/%&'K")HF&.[./+'".")H"

L%G" %6" )(-('" 3%/-&.6" +%" 6." *.-%&/(+.+" %/" 6." 3'/)-(-H3(E/" 3H6-H&.6" +%" 6." (+%/-(+.+"

6.-(/'.*%&(3./.!_"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@;C"i'&"H/"6.+'K":H%+%":.&%3%&"

H/" -./-'" &%+H33('/()-." [" &%:&'+H3-'&" +%" H/." I%J%*'/W." :.-&(.&3.6" %6" I%3I'" +%"

%2:6(3.&"9(/-%&:&%-.&9"6.":.&-(3(:.3(E/":'6W-(3."%/"%6"*.&3'"+%"6."*.-%&/(+.+!"i'+&W."

3.%&)%"%/"%)-%")%/-(+'"%/"%6"I%3I'"+%"./H6.&"."6."*Hb%&"3'*'")Hb%-'K"3'*'".3-'&"

*H6-(+(*%/)('/.6K" :&%3().*%/-%" :'6W-(3'!" O'" -'+.)" 6.)" *.+&%)" )%" .+I(%&%/" ." 6."

6H3I." X)%&W." H/" -&.F.b'" +%" '-&'" -(:'" \" /'" 'F)-./-%" )H*.*%/-%" (/-%&%)./-%" %"

(*:'&-./-%9" L%&" -'+'" 6'" ]H%" %)-a" (*:6(3.+'" %/" %)-." /'" :.&-(3(:.3(E/CK" [" )'/" 6.)"

*%/')!",2()-%"H/":&'3%)'" (/+(L(+H.6"+%"+%3()(E/"["&%)()-%/3(."]H%"/'":H%+%"+%b.&"

+%"&%3'/'3%&)%K".+%*a)"+%"H/"3'/-%2-'" X(/+(L(+H.6K" )'3(.6"%"I()-E&(3'C"%):%3W5(3'!"

,/":.6.F&.)"+%"6."*()*."R'`."P%[/."XI.3(%/+'"H/"%b%&3(3('".H-'&%56%2(L'C4"^%/"%6"

)%/-(+'"+%").6(&K"+%!!!":.&."(&"I.)-.!!!":'&]H%"/'"-'+.)")%"./(*./"["/'"-'+.)").6%/K"["

/'"-'+.)")%".&&(%)J./K".".&&(%)J.&)%".IW!!!_""XP%[/.K"=8#8C""

"

=C ,6" &%+H33('/()*'" )%&W." -.6" )(" )%" 3'/3(F(%&." 6." *.-%&/(+.+" 3'*'" H/" F6']H%K" H/."

3.-%J'&W." *'/'6W-(3.!" Va/3I%G" z&(/J.)K" &%56%2('/./+'" %/" -'&/'" ." .6JH/.)" +%" 6.)"

:%&):%3-(L.)"+%".H-'&.)"5%*(/()-.)"+%"5(/.6%)"+%" 6')"78"[":&(/3(:(')"+%" 6')"?8"]H%"

3&(-(3.&'/"%6" :.-&(.&3.+'".":.&-(&" +%6" 3H%)-('/.*(%/-'"." 6."*.-%&/(+.+K"*%/3('/."

167

]H%" %)-.)" 3&W-(3.)" 5H)('/./" 3.-%J'&W.)" I%*F&.9*Hb%&9*.+&%95%*%/(/'" [" +%b./"

5H%&."+%6"./a6()()"6."I%-%&'J%/%(+.+"+%"6')"+()-(/-')".):%3-')"]H%"(/-%&L(%/%/"%/"%6"

%b%&3(3('"+%"6."*.-%&/(+.+!""

"

@C i'&"'-&'"6.+'K"["&%6.3('/.+'"3'/"6'"./-%&('&K"%6"-%*%&"%2:6(3.&"%)-%".3-H.&":'6W-(3'"

3'/" %6" ^)%&" *.+&%_" [" 3&(-(3.&" %)-." :')-H&.K" (*:6(3." +%).3&%+(-.&" [K" :'&" -./-'K"

&%:&'+H3(&" +(3'-'*W.)d" %)" +%3(&K" /'" I.[" ]H%" -%*%&" L(/3H6.&" 6'" *.-%&/'" 3'/" 6'"

:'6W-(3'!" D'" :'6W-(3'" .F.&3." *H3I.)" 3').)K" [K" %/-&%" %66.)K" %6" %b%&3(3('K" +%5%/)." ["

%2(J%/3(."+%"6')"+%&%3I')!"�)-.)")'/"-.*F(1/"/H%L.)"5'&*.)"+%"I.3%&":'6W-(3.!",)-."

c6-(*."/'"-(%/%":'&"]H1")%&"/%3%).&(.*%/-%"^&.3('/.6_K"/'".5%3-(L.K"%-3!"Y6"+%3(&"6'"

./-%&('&" [" .3H).&" ]H%" %6" I%3I'" +%" I.F6.&" +%" *.-%&/(+.+" 3'*'" 3.-%J'&W."

(/-%&:&%-.-(L." X%2:6(3.-(L.C" &%+H3%" 6." .J%/3(." [" %6" :'+%&" :'6W-(3'" ." 6." *Hb%&K"

:&%3().*%/-%"&%:&'+H3%"%)-."+(3'-'*W.!"0.-%&/(+.+"[":'6W-(3.K"+%&%3I')9:'6W-(3.K"

.5%3-')9" :'6W-(3.K" *Hb%&%)9:'6W-(3.K" /'" +%F%/" :%/).&)%" 3'*'" *H-H.*%/-%"

%236H[%/-%)!"m.F&W.K":H%)K"]H%"%/3'/-&.&"6')":H%/-%)!""

"

&

168

O^&A5G;"!%&&V)07!%&,$&$"#$",$0&5!&5;(]!&D&%;%&+7W5+(!(+)"$%&!&"+*$5&%;Ob$#+*)'#

#

L(0&)"+.88.(0,->#$)(+588.(0,-w#),$)(+588.(0,-?#&)"0-4),-.(0,-w#,<&)"$(%"8.(0,-#

#

#C"S/'"+%"6')":&(/3(:.6%)".&JH*%/-')"9(/.:%6.F6%)9"+%"6.)"*.+&%)K"+%"Y3%6."["P%[/.K":.&."

bH)-(5(3.&"%6"I%3I'"+%"&'*:%&"3'/"3(%&-.)"+(/a*(3.)"5.*(6(.&%)K"+%"&'*:%&"%)]H%*.)K").6(&"

+%")H)"3.).)")'6.)K"^.F./+'/.&_"%6"I'J.&"XI.)-."3(%&-'":H/-'CK"."6')"'-&')"I(b')K".6"*.&(+'K"

%)" )(*:6%*%/-%" %6" I%3I'" +%" ^)'[" )H"*.+&%!!!" %)"*(" I(b." [" /'" L'[" ." +%b.&" +%" FH)3.&6._!"

D.J.&+%")%"&%5(%&%".6""3H%&:'"+%"6."*Hb%&"X*.+&%):').C"3'*'"H/"%):.3('"+%"L(+."+():H%)-'"

-.*F(1/" +%):H1)" +%6" /.3(*(%/-'K" [" 3'/" 3.:.3(+.+" +%" %2-%/+%&)%" )(*FE6(3.*%/-%" 9

:')-%&('&*%/-%9"X:'&]H%"H/."*.+&%"/H/3."+%b."+%")%&6'C!"R(3I'"+%"'-&."5'&*.K"%6""^3H%&:'"

+%" 6."*Hb%&" Ñ!!!Ö"/'")%".J'-."%/")H)" 6W*(-%)"*.-%&(.6%)K" )%"%2-(%/+%")(*FE6(3.*%/-%"." 6.)"

3.GH%6.)K"."6')".6(*%/-')K"."6."3'3(/.K"."6."3.).!",)"H/"%):.3('")(%*:&%"+():H%)-'"."3.&J.&K"["

." &%3(F(&" .6" (&)(!" Ñ!!!Ö" ,6" 3H%&:'" 5%*%/(/'" %)" %6" %):.3('" +%" L(+." ./-%)" [" +%):H1)" +%6"

/.3(*(%/-'" Ñ!!!Ö!_" XD.J.&+%K" #<<84" =;=C" iH%+%" %/-%/+%&)%K" .)WK" 6." 6H3I.K" 3'*'" H/."

%2-%/)(E/"+%"6."*.-%&/(+.+"%/"%6"%):.3('":cF6(3'""X/'")E6'":&(L.+'CK"+%"%)-%"3H%&:'9:.&.9

'-&')"]H%")%".&&(%)J.K"]H%")%":'/%K"]H%")%"%2:'/%K"]H%")%"%2-(%/+%")(*FE6(3.*%/-%"."6.)"

3.66%)K"."6.)"*.&3I.)K"."6')"*W-(/%)K"."6.)":.&.+.)K"."6."Fc)]H%+."5W)(3."%/"-'+.)"6.)"3a&3%6%)"

["I'):(-.6%)K"%/"6')"*(/()-%&(')":cF6(3')K"%-3!K"3'/"-'+.)"6')"&(%)J')K"+(5(3H6-.+%)K").3&(5(3(')"

]H%"%)-'" (*:6(3.!"P%3.%K".+%*a)K" 6."%-%&/."&%):'/).F(6(+.+"+%" 6."*.+&%":'&"%6"F(%/%)-.&"

+%6"I(b'!"|" 6."3'/+%/."["3H6:."X]H%"6.")'3(%+.+"(*:'/%C")("%)-'"/'")%"3H*:6%K".":%).&"+%"

]H%"I.[."3'/+(3('/%)"%)-&H3-H&.6%)"*a)".*:6(.)"'".b%/.)")'F&%" 6.)"3H.6%)"H/."*.+&%"/'"

-%/J.":'+%&" X3'*'"%)"%6" 3.)'"+%" 6.":1&+(+.":'&" 6."+%).:.&(3(E/" 5'&G.+.C!"T'/"&%6.3(E/"."

%)-'K" [" :'/(%/+'" 3'*'"%b%*:6'" 6.)" 3'/+(3('/%)"+%":'F&%G."+'/+%"*.+&%)K" (*:'-%/-%)K"

L%/"*'&(&".")H)"I(b')"+%)/H-&(+')K"D.J.&+%"*%/3('/.4&

&

!"# *"&,)0.+"+# ,0# ,-"-# 8(0+.8.(0,-# t+,# $(6),="?# +(0+,# *"+),-# 7,0# *().)# "# -5-# A.D(-#

+,-05&).+(-u#,-#50#,-$"8.(#+,#,<$%(&"8./0#C#($),-./0#-5').+(#,0#%"#.0&.*.+"+#+,#%"-#*5D,),-p#

-.40.'.8"# ,%# +(%()# C# %"# .*$(&,08."# +,# 7,)# "# -5-# A.D(-#*().)?# -.0# ]5,# ,-&;# ,0# -5-#*"0(-# %"#

$(-.6.%.+"+# +,# ,7.&")%(?# $,)(# 8(0# %"# .+,(%(4W"# +,# ]5,# %"# 7.+"# +,# -5-# A.D(-# ,-# -5#

),-$(0-"6.%.+"+2# !"#*"+),#*5,),#+,# )"6."#C# 85%$"?#+,# -5').*.,0&(?#"0&,# %"#4)"7,+"+#C# %"#

169

*5,)&,# +,# -5# 8)."&5)"?# $()]5,# +,# &(+"-#*"0,)"-# "50# %"#*"&,)0.+"+# +(%.,0&,# ,-&Y# ,0# ,%#

8,0&)(#+,#-5#-,)2#B!"4")+,?#Fiif>#ZeZ3#

"

T'/"%)-'"-.*F(1/":'+&W."-.6"L%G".)'3(.&)%"]H(Ga)"H/."3(%&-."3H6:.K"-.*F(1/K"+%"6."5'&*."+%"

%+H3.3(E/" ." 6.)" I(b.)4" 3'*'" +(3%"j.6-%&K" " ^H/."*.+&%" ]H(%&%" ]H%" )H" I(b." )%." 3.:.G" +%"

+%5(/(&")H)":&':(.)"/%3%)(+.+%)"3'*'")%&".+H6-'"%"(/+%:%/+(%/-%K":%&'"6.".3')./"6.)"+H+.)"

:'&]H%" ).F%" ]H%" /'" %)" :&H+%/-%" ]H%" 6." I(b." )%" LH%6L." +%*.)(.+'" .H-E/'*.K" )(/'" ]H%"

+%F%".:&%/+%&"5'&*.)"+%"+%:%/+%/3(._K":'&]H%"%)".)W"%)"3'*'"6'"%2(J%"%6"*H/+'")'3(.6"

3(&3H/+./-%!"Xj.6-%&"%/"T.6L%(&'K"=88A4"@79@?C&

,/"%6"3.)'"+%"Y(3%6.":'+&W."+%3(&)%"]H%K")("F(%/"%66."/'"%)"*.+&%K".6"3'/-(/H.&"%/"6."6H3I.K"

)H"L(+."["3H%&:'")'/":H%)-')K"%2:H%)-')"[").3&(5(3.+')K"%/"/'*F&%K"+%".6JH/."*./%&.K"+%"

6."*.-%&/(+.+"X3'*'")H)-(-H-."+%"6."*.+&%4"%)"6."&%):'/).F6%"["6."]H%".)H*%"%)-%":.:%6"+%"

&%):'/).F(6(+.+" %/" 6." Fc)]H%+." :'&"*%+('" +%" 6." :.&-(3(:.3(E/" :'6W-(3.?#" X%/" )H" I()-'&(."

:%&)'/.6")%"(+%/-(5(3."H/":.-&E/"+%".+':-.&"%6":.:%6"+%"&%):'/).F(6(+.+"[").3&(5(3('":'&"6."

5.*(6(.C!##

tI,-$5;-#+,#50"#%")4"#"5-,08."#,0#-5#8"-"?#),4),-"#"#7,)#"#-5#*"*Y>u#

#R>#L5"0+(#%%,45;#"AW?#0(#),85,)+(#8(0#$),8.-./0?#$,)(#%%,45;#"#8"-"#+,#*.#A,)*"0(2#!%,45;#"#8"-"#

+,#*.#A,)*"0(?#C#+,#%"#8"-"#+,#*.#A,)*"0(#'5.#"#@5,D(&=.04(2#RAW#'5.#"#7,)#"#*.#*"*Y2#t1u#%(#-,0&W#

"-W# 8(*(222# M50"#"5-,08."#*5C# %")4"O# t1ux# 8(0#50#8(*(#-,0&.*.,0&(#+,# 85%$"222# t1u9%%"#*,#+,8W"#

8"-.#-.,*$),#HP0(#A"-#-"6.+(#0"+"#+,#_"%,TK2#L(*(#]5,#C(#,)"#%"#]5,#-"6W"2#L(*(#]5,#C(#,)"#%"#

]5,# A"8W"2# V")"# ,%%(-# ,)"# 8(*(# ]5,222# x# $5,-# C(# %,-# +,8W"# %(# ]5,# -"6W"2# V5,-# %,-# +,8W"# %(# ]5,# -,#

A"8W"?#%,-#8(*,0&"6"#,0#4,0,)"%#%(#]5,#C(#,-&"6"#7.7.,0+(#"%%Y?#%(#]5,#-,#A"6W"#8(*,0&"+(?#%(#]5,#

-,#A"6W"#+.8A(222#9-(#,)"#%(#]5,#8(*,0&Y6"*(-2"XY(3%6.K"=8#8C""

,6"6.G'"*.-%&/.6"X%)-."(+%.".&&.(J.+."+%"6."*.-%&/(+.+C"%)"%6"%b%"6%J(-(*.+'&"+%"*H3I.)"+%"

6.)".33('/%)"["+%3()('/%)"+%"P%[/."["Y3%6."9/'"%2%/-.)"+%"'-&'"-(:'"+%"-%/)('/%)9K"+%"%)-.)"

'-&.)"^5.6-.)_!"V%").6%"+%"3(%&-')"%)]H%*.)"X%6"^+%F%&"+'*1)-(3'_CK":%&'")(/").6(&)%"+%"'-&')"

X%6")%&"*.+&%"./-%)"]H%"'-&."3')."["./-%:'/%&"."6')"I(b')C!""

&

2)3!&C$D"!>&

?#" O'"I.["]H%"+%b.&"+%"6.+'"]H%")H".3-H.&":'6W-(3'"+%L(%/%"-.*F(1/"+%"H/."I()-'&(."+%":.&-(3(:.3(E/":&%L(.K"

+%" (/-%&%)%)")'3(.6%)":&%L(')K"+%"H/."I()-'&(."+%" 6H3I.K"+%".H-'/'*W.K"["+%"3'/-%2-')"&%6.3('/.+')"]H%"5'*%/-.&'/"["%6(3(-.&'/"%)-.":.&-(3(:.3(E/!"

170

!>#Px#0(#A"6W"#8(*(#$)(6%,*"-#"]5W#,0#%"#8"-"#+,#]5,#+.D,)"0#H"C?#$()#]5;#"0+"-#-"%.,0+(222K#

S>#V5,-#-W?#$5,-#-.,*$),#*,#+,8W"#;%2#V,)(#%,#+.4(#H$5,-#"A()"#-W#]5,#0(#$5,+(?#0(#$5,+(#,-&")#"-W?#

0,8,-.&(#-"6,)?#0,8,-.&(222K2#Hv5,0(?#C"?#$5,-#7,2K#XP%[/.K"=8#8C""

2)3!&A($5!&

x#$5,-#-W?#A.8.*(-#,%#$%"0&/0?#C#0(-#]5,+"*(-2#x#$5,-#-W?# &"*6.;0# '5,#50"#*"%&)"&"+"#&),*,0+"?#

P0(T#t222u#\"+"#*Y-#E`#A()"-2#V,)(#8(*(#C(#0508"#*,#]5,+"6"#'5,)"#+,# %"#8"-"#C#0(#"7.-;?#M0(O#

9-&"6"#$,)(#-X$,)#,0(D"+W-.*(#t-5#,-$(-(u2#x#*,#+,8W"#H"]5W#C"#0(#,0&)"-K2#HV5,-#0.#*(+(2#_(C#"#

-,45.)#65-8"0+(#"#*.#A.D"2K#\(?#$,)(#]5;#*,#.6"0#"#+,D")222#V5,-#,-(#A"#-.+(#%(#*Y-#&,)).6%,#$")"#

*W?# P0(T# !(# ]5,# A,# $"-"+(222# !(# +,# *.# A.D"# C# ,-"-# "7,0&5)"-2t1u# \(?# $5,-# "]5W# ,-&57.*(-#

+.-85&.,0+(?#$()]5,#"]5W#&,0W"#C(#50"#&.,0+.&"2#9-&Y6"*(-#+.-85&.,0+(2#x#+.D,#H65,0(?#$5,-#*,#7(C#

8(0#*.#*"*Y2#RAW#-,#]5,+"0#&5-#A.D(-#C#C(#*,#7(C#8(0#*.#*"*YK2##90&(08,-#C"#0(222#0(#%,#$"),8./2#

x#C"#'5,#8(*(#*,#]5,+;2#XY3%6.K"=8#8C""T'*'" F(%/" +(3%" n%6(/K" &%):%3-'" ." 6.)" *.+&%)" X[" +%*a)" 5.*(6(.&%)" \*Hb%&%)9" +%"

+%).:.&%3(+')"%/"Y&J%/-(/.C"]H%")%"'&J./(G.&'/"[").6(%&'/"."6."%)3%/.":cF6(3."X[":'6W-(3.C4"

^)H" 6HJ.&" )'3(.6" %)-a" ./36.+'" %/" LW/3H6')" 5.*(6(.&%)" /.-H&.6(G.+')K" [" .6" 6%J(-(*.&" 6."

%2:&%)(E/" :cF6(3." +%6" +H%6'" [" %6" +'6'&K" &%:&'+H3%/" [" &%5H%&G./" %)-%&%'-(:')" [" L()('/%)"

-&.+(3('/.6%)!_"Xn%6(/K"=88#4"##AC"

"

Y)WK":H%)K")%"-&./)J&%+%"[")%"&%:&'+H3%"."6."L%G!"Q:%&."%6"+%F%&"+%")%&"*.+&%K"6."3H6:."["

&%):'/).F(6(+.+"+%"L%&":'&"6')"I(b')K"X.":%).&"+%".F./+'/.&"."6')"'-&')K"+%".6JH/."5'&*.C!"

,/"%6"3.)'"+%"Y3%6."X]H%"-.*F(1/":'+%*')"L%&"3'/"+'`."P%[/.CK"I.["H/."36.&."+(5%&%/3(."

+%" 6'" ]H%" L%*')" %/" '-&')" 3'/-%2-')" +%" 6H3I.!" V%" I.F6." *H3I'" +%" %)-." /%3%)(+.+" +%"

-&./)*()(E/":'&":.&-%"+%"6')"5.*(6(.&%)"I.3(."'-&')"*(%*F&')"+%"6."5.*(6(.":.&."3'/-(/H.&"

)H)" 6H3I.)!"D."-&./)*()(E/"+%"J%/%&.3(E/"%/"J%/%&.3(E/K".")H)"+%*a)"I(b')K".")H)"/(%-')K"

%-3!" ,/" .*F')" 3.)')" ':%&." 3'*'":&(/3(:.6"*%3./()*'" %6" )W" 6H3I.&K" )%JH(&" FH)3./+'K" /'"

+.&)%" :'&" L%/3(+.)K" :'/%&" )H" 3H%&:'" %/" H/."*.&3I.K" %/" H/." :.&.+.K" %/" H/." IH%6J." +%"

I.*F&%K" %/" 6')" &%3'&&(+')" :'&" %6" :.W)" ." 6')" &%36H)'&(')" [" 3a&3%6%)" %/"FH)3."+%" )H)" I(b.)K"

%2:'/(1/+')%" ." *H3I')" -(:')" +%" :%6(J&')!!!" ,)-%" %2:'/%&)%" :'&" H/." +%" )H)" I(b.)"

^.F./+'/./+'_"."6')"+%*a)K":H%+%"-.*F(1/"%2:6(3.&)%":'&"%)-%")%/-(+'"+%":'/%&"%66.)")H"

3H%&:'K":%&'")(/":'/%&"%/"&(%)J'".6"&%)-'"+%")H"5.*(6(.!""

&&&

171

C$D"!>&x#+,#"AW#,*$,8;#"A()"#-W#]5,#"#65-8")%"#t1u#-(%"#t1u#bW?#0(?#0(#%%,7"6"222#x(#$,0-"6"#,0#*.-#A.D(-?#

0(#%%,7")%(-?#$()]5,#0(222#t1u#x#C(#$"h#0(#8(*$)(*,&,)%(-2#Q5,#*,D()#]5,#C(#7"C"#"#7,)#-.#t222u?#$,)(#

0(#"#*.-#A.D(-2#&"D4"sS)-%+":&%5%&(&W.":'&"H/"6.+'"]H%"/'!!!"]H%"/'")%"(/L'6H3&.&./!!!t"S>#\(?#,%%(-#]5,#0(222#\(?#$()]5,#$5,-#,0&(08,-#,-&Y#%"#8(-"#*Y-#+5)"2#XP%[/.K"=8#8C""A($5!>&R>#V5,-#0(?#*.-#A.D(-#0508"#-.]5.,)"#*,#+.D,)(0#0"+"2#t222u#\508"#"-W#]5,#*,#%%"*")(0#%"#"&,08./02#

:,#+,8W"0#HP$()#]5;#0(#]5.,),-#]5,#&,#"8(*$"J,*(-TK#H\(#]5.,)(#.07(%58)")#"#0"+.,K2#x#,0&(08,-#

"222# $5,-# ,0# ,-(-# &)"C,8&(-# ]5,# "0+57.*(-# 65-8"0+(?# 0(-# ,*$,=")(0# "# A"8,)# %%"*"+"-2# XY3%6.K"=8#8C""

,)-%"(/)-(/-'":&'-%3-'&"%)"*a)":&%+'*(/./-%"]H%"%6")%/-(+'"+%"6."-&./)*()(E/"+%"6."6H3I."

)'3(.6"X:'&]H%"%6"5%/E*%/'"+%"6."6H3I.K"%)-."J%/%&.6(G.3(E/"[".*:6(.3(E/"+%"+%&%3I')K"+%"

3'/'3(*(%/-')K" +%" -'+'" 6'" ]H%" %)-.)"*.+&%)" .:&%/+%/" %/" %)-%" /H%L'"*H/+'" +%" 6H3I."

3'6%3-(L.K")%"]H%+%"%/"%6"J&H:'K"["/'")%"5(6-&.K"'":'&"6'"*%/')"/'"+%)+%"+'/+%":H+'"L%&)%K"

.6"(/-%&('&"+%"6."5.*(6(.!",/"%)-%")%/-(+'"/'"%2()-%"-./-'"6."-&.)J&%)(E/"'"+(5H*(/.3(E/"+%"6.)"

6W/%.)"+(L()'&(.)"+%"6'"+'*1)-(3'M:'6W-(3'!",)-'"/'"]H(%&%"+%3(&"]H%"/'"I.[."-&.)J&%)('/%)"

(*:'&-./-%)" ." '-&')" a*F(-')K" ." '-&')" %):.3(')!" ,6" I%3I'" +%" )'3(.6(G.&)%K" +%" :'+%&"

.:.6.F&.&" %/" '-&')" %):.3(')K" *a)" .66a" +%6" /H%L'" J&H:'" 3'/5'&*.+'" X+%6" T'*(-1C" 6."

)(-H.3(E/"+%" 6."+%).:.&(3(E/"[K" )'F&%" -'+'K"+%" 6." 6H3I." X]H%"3&%'"]H%"-'+.LW."%/"Y3%6."["

P%[/.")%"L(L%"3'*'".6J'"*H[":%&)'/.6"%" W/-(*'K"/'".)W"%/"Y(3%6.K"]H%"%)"*a)"3'6%3-(L'K"

.H/]H%"/'":'&"%66'")(/"3'/-%/(+')"["%6%*%/-')"*H[":%&)'/.6%)"[":&(L.+')CK"I.F6."+%"%)-."

)'3(.6(G.3(E/" [" 3'6%3-(L(G.3(E/" +%" H/" :&'F6%*.K" %)" +%3(&K" +%6" +%):%&-.&K" +%" H/" -(:'" +%"

3'/3(%/-(G.3(E/"]H%"6'J&."(/-%&:&%-.&"H/.")(-H.3(E/"]H%"./-%)")%".)H*W."3'*'":%&)'/.6K"["

.I'&.")%"&%)(J/(5(3."3'*'"+%"W/+'6%")'3(.6"X'-&."5'&*."+%"3'/3(%/3(.K":H%)C!"R(3I'"+%"'-&."

*./%&.K")%"%/3.&/E"%/"%)-.)"%2:%&(%/3(.)"%6"6%*."95%*(/()-.9"+%"^6'":%&)'/.6"%)":'6W-(3'_K"

^&%)(J/(5(3./+'" [" &%3'/)-&H[%/+'" )(*FE6(3.*%/-%" ." 6." *.-%&/(+.+" 3'*'" H/" %b%&3(3('"

3'6%3-(L'K" :cF6(3'" [" :'6W-(3'K" [" 5H/+./+'" /H%L')" )(J/(5(3.+')" 3(H+.+./')!_" X0.(%&K" %/"

D%F'/"["0.(%&K"=8874"@<C"

172

,)-'" (*:H6)EK" .+%*a)K" '-&.)" 6H3I.)K" :%&*%./+'" -.*F(1/" '-&')" %):.3(')!" ,/"

-1&*(/')"J6'F.6%)K":'+&W."+%3(&)%"]H%K"3'*'"H/"&%)H6-.+'"+%6":&'3%)'"(/+(L(+H.6"+%"3.+."

H/."+%"%)-.)"*Hb%&%)K"%/"3'6%3-(L'K")H3%+%"6'"]H%"0.(%&"3'*%/-.4"

#

%(# ]5,# &(+(-# %(-# 8(*.&;-# 8(*$")&.,)(0# '5,# ,-&"# *.%.&"08."# *"&,)0"# 7"%.,0&,?# &,0"=?# 8(%,8&.7"# C#

$X6%.8"?#.0.8."%*,0&,#,0#+,*"0+"#+,#%"#+,7(%58./0#+,#-5-#-,),-#]5,).+(-p#*Y-#"+,%"0&,#,0#+,',0-"#

+,# %(-# +,),8A(-# A5*"0(-# C# %"# ),-&.&58./0# +,# %"# %,4"%.+"+# 8(0-&.&58.(0"%?# C# '.0"%*,0&,# 8(*(# 50"#

,-$,8.,# +,# 45")+.Y0# 8(%,8&.7(# +,# %"# *,*()."# A.-&/).8"# C# %"# ;&.8"# -(8."%?# 8(0# -5# .0-.-&,08."# ,0#

.+,0&.'.8")#C#8"-&.4")#"#%(-#),-$(0-"6%,-#+,#,-&"-#0"))"&.7"-#0"8.(0"%,-#$,)7,)-"-?#8(*(#50#+,-"'W(#

.*$),-8.0+.6%,#"# %"# 8(0-&)588./0#+,*(8)Y&.8"2# t222u# '5,)(0# %"# -,*.%%"#+,%#*(7.*.,0&(#$)(*(&()#+,#

%(-#+,),8A(-#A5*"0(-#,0#R*;).8"#!"&.0"?#"+.,-&)"0+(#"#%"-#*5D,),-#.0&,4)"0&,-#"#&)"7;-#+,#05,7(-#

"$),0+.="D,-# C# $)Y8&.8"-# 8(*(# %"-# $).*,)"-# ,-$,8."%.-&"-# ,0# %"# *"&,)."# C# ,D,*$%.'.8"0+(# "-W# %"#

$(&,08."%.+"+# +,%# 4;0,)(# ',*,0.0(# [+,# &(+"-# 8%"-,-# -(8."%,-# C# 0.7,%,-# ,+58"&.7(-# [?# +,#

"5&(8"$"8.&")-,# 8(*(# 8.5+"+"0"-# ,D,*$%"),-" !!!" " [K" .6" 5(/.6" +%" 3H%/-.)K" "8&5")(0# 8(*(# 50#

+,-$,)&"+()#$")"#(&)"-#*"+),-!"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@;9@<C""=C"V%"3'6%3-(L(G."%6"+'6'&K")%"3'6%3-(L(G."%6")%&"*.+&%K"")%"^I.3%/"*a)"I(b')_"X6H3I./+'":'&"

6')"I(b')"+%"'-&.)C"[")%")(JH%")(%/+'"*.+&%!"T'*'"F(%/"+(3%/"V3I&(*%&"["0.(%&K"I.F6./+'"

%/"J%/%&.6"+%"6')"3'*(-1)"+%"*.+&%)"+%"+%).:.&%3(+')":'6W-(3')"%/"Y*1&(3."D.-(/.K"]H%+."

&%)(J/(5(3.+'"%6")%/-(+'"(/+(L(+H.6"+%"6."*.-%&/(+.+4""

#90#$(8(#&.,*$(?#%"#6X-]5,+"#.0+.7.+5"%#.0.8."%#+,#8"+"#*5D,)#+,-,*6(8/#,0#%"#.0&,4)"8./0#+,#,-&"-#

()4"0.="8.(0,-# ,0# +(0+,# -,# '(*,0&"6"0# $)Y8&.8"-# 8(%,8&.7"-# C# *,&/+.8"-# +,# "7,).45"8./0?#

+(85*,0&"8./0#C#+,0508."#+,#%"#8)5+"#7.(%"8./0#+,#%(-#+,),8A(-#A5*"0(-?#+,*(-&)"0+(#%(-#A,8A(-#

(85)).+(-#C#*"0.',-&"0+(# %"#$),(85$"8./0#$()#,%#+,-&.0(#0(# -/%(#+,%#$)($.(#A.D(# -.0(# &"*6.;0#+,#

&(+"-# %"-# A.D"-# ,# A.D(-# +,# &(+"-# %"-# (&)"-# *"+),-# ,0# %"# *.-*"# -.&5"8./02# I,# ,-&"# *"0,)"?# -,#

),-.40.'.8/# ,%# -,0&.+(# .0+.7.+5"%# +,# %"# *"&,)0.+"+# B2223?# "# %"# 7,=# ]5,# -,# 8(%,8&.7.=/# ,%# ,D,)8.8.(#

8.5+"+"0(#B22232"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@<C"&&C$D"!>&D4"Ñ!!!Ö")("66%J.&."%6"3.)'"+%"]H%"H)-%+"%/3'/-&.&.".")H"I(b.K"sH)-%+")%"(*.J(/.")(JH(%/+'":.&-(3(:./+'"%/"o,H&%p.qK"'"3E*'")%"(*.J(/."H)-%+"%).")(-H.3(E/t"S>#V5,-#-W#8(0#*Y-#4"0"-#+,#-,45.)?#$()#,D,*$%(?#*.#A.D"#"$"),8,#(#,%#8(*$"J,)(#"$"),8,?#(#(&)(#

"%45.,0#"$"),8,?#$5,-#%,#,8A")W"#*Y-#4"0"-#$")"#-"8")#"#%(-#+,*Y-2#V()]5,#0(#-,#7"%,#]5,#$()]5,#

C"# -"%./#*.# A.D"# C# +.4(# H65,0(?# $5,-# C"K222# x(# 8),(# ]5,# "-W2# V5,-# (D"%Y# ,-(# -,# $5+.,)"?# $,)(# "# %"#

*,D()#]5.;0#-"6,2#t222u#9-&Y#+.'W8.%2#I.'W8.%2#XP%[/.K"=8#8C""

Y+%*a)"+%"6H3I.&)%":'&"6')"+%*a)K")%".+]H(%&%/"/H%L')""I(b')4"6')"3'*:.`%&')"+%"6H3I.K"

6')" m!N!n!Q!V!" V(%/+'"m!N!n!Q!V!" +%" .6JH/." 5'&*." %6" &%6%L'" X.)W" )%" (/-%&:&%-." -./-'" :'&" 6.)"

+'`.)" 3'*'" :'&" *H3I')" +%" 6')" m!N!n!Q!V!" C" +%" ,H&%p." [" I.F(%/+'" -./-." &%6.3(E/K" -./-."

173

I()-'&(.K".5%3-(L."[" 5.*(6(.&" X.6JH/')"+%" 6')"m!N!n!Q!V!"-(0# 5.*(6(.&%)"F('6EJ(3')"+%".6JH/.)"

+%" 6.)" ^+'`.)_CK" *a)" .66a" +%" 6.)" +(5%&%/3(.)" (+%'6EJ(3.)" [" :'6W-(3.)" +%" .*F.)"

'&J./(G.3('/%)K" %2()-%" %)-%" 6.G'" .5%3-(L'" ]H%" :&%3().*%/-%" I.3%" 6.)" L%3%)" +%" H/" 6.G'"

'"*.%.")2# " $./"%)".)W"]H%" -./-'" 6')"I(b')"+%"+'`."Y3%6." 3'*'" 6')"+%"+'`."P%[/." )(%/-%/"

^3%6')_" :'&" 6." &%6.3(E/"]H%"%2()-%" %/-&%" )H)" &%):%3-(L.)"*.+&%)" [" 6')"m!N!n!Q!V!K" [" :'&" )H"

*()*.".3-(L(+.+":'6W-(3."]H%"6.)"66%L."."%)-.&".H)%/-%)4"

&C$D"!>&S>#:A222#$5,-#%"-#8(-"-#+.'W8.%,-#$5,-#'5,#50#$(8(#,%#"6"0+(0(#+,#%"#8"-"?#-"%.)#'5,)"-?#$5,-#50#$(8(#

&"*6.;0#+,#&,0,)#$)(6%,*"-#"8Y?#(222#V5,-#C"#,)"0#8(-"-#]5,#+,8W"0#]5,#C"#*,#45-&"6"#0(*Y-#-"%.)#

C#]5,#"6"0+(0")"#"#*.-#A.D(-#(#,-(2#l-"#,-#%"#+.'W8.%2#x#%"#'Y8.%#$5,-#C(#+.4(#]5,#-,)W"#,-(#+,222#+,#.)?#

-"6,)#50#+W"#(#),-8"&")%(-?#(222#(#,-(2#

S># V5,-# 0(#*5C# '5,)&,?# $,)(# -W222# R%# -"6,)# ]5,# 50(#+.8,# H7(C# "# -"%.)K?# $5,-# C"# 8(*(#]5,# ,%%(-# -,#

$(0W"0#"#$,0-")2#R#$,0-")#+,# -"%.)# (#"%4(#"-W222# V5,-# t222u# -.,*$),# t222u# %(-# 7,W"# 8(*(222# +(-# 8(-"-?#

&"*6.;02#L(*(#*(%,-&(-?#C#8(*(#]5,#"%4(#&"*6.;0#,%%(-#]5,)W"0#-"6,)2#

t@"6%"0+(#+,#@2j2a2q2b2>u#

S>#G"0."?#.45"%*,0&,#8(0#G"0."2#x"#7,#]5,#%5,4(#%%,4"#50(#C#HMI(J"#S,C0"OK#x#&(+(-?#9+.&A?#%"-#]5,#

*,#8(0(8,0?#&(+"-#*,#A"6%"0?#&(+"-?#&(+"-2#XP%[/.K"=8#8C"#A($5!>&#R># x(# -W2# x# %"-# A,# A,).+(# *58A(# &"*6.;02# x(# %(# -.,0&(2# V()]5,# *,# +.8,0# HC"# 0(# %"# 65-]5,-K2#

H^-&,+,-#0(#-"6,0#-,)#*"+),-?#$()#,-(#0(#-"6,0#%(#]5,#50(#-.,0&,222K2#9-#A,).)%"-#',(2#V()]5,#C(#"-W#

%(#8),(?#P0(T#V,)(#$5,-#*,#0"8,#+,8.)#,-(2#90&(08,-##C"#*,#+,-]5.&(#t222u2#x#*,#+.8,0#H0(?#$5,-222#

P0(#]5,#C"#0(#.6"-#"#.)TK2#H_(C#"#.)#-.,*$),#C#85"0+(#$5,+"#C(2#x"#85"0+(#0(#$5,+"?#$5,-#,0&(08,-#

-W222#C"#0(K2##

t1u#

:A222# 0(# -;#]5;#*,&"#*,#$%"0&,")W"#"A().&"2# x(# 8),(#]5,#,%#"*()#"# %(-#A.D(-2#V()]5,#+.8,0#,%%(-#

H$5,-# 0(# 0(-# ]5.,),-K2# x# %(-# ]5.,)(#*58A(?#*58A(# %(-# ]5.,)(2# V,)(# "# %(#*,D()# -(C# ,4(W-&"# "%# 0(#

+,*(-&)")%,-2# 9%%(-# -,# $5-.,)(0# 8,%(-(-222# $()]5,# +.8,0# ]5,# "$"$"8A(# "# %(-# *58A"8A(-?# "# %(-#

@2j2a2q2b2#x#%,-#+.4(#H,-#]5,#,%%(-#*,#A"0#6).0+"+(#,-,#8").J(K2#9%%(-#*,#"$"$"8A"0?#C(#0(#%,-#$.+(#

0"+"?# -.# ,%%(-#*,# %(#+"0222#:,#+"0#50#6,-(222# x# -W# %,-#+"0#8,%(-2#V,)(# -.#"-W# -(0#,%%(-# 8(0*.4(?#C(#

&"*6.;0#&,04(#]5,#6).0+")%,-#8").J(2#b(0#*5C#4)"0+,-#$")"#*W?#&(+(-#,%%(-2##

!>#x?#$()#,D,*$%(?#,0#,-&"#6X-]5,+"?#,0#,%#,-&")#$")&.8.$"0+(#C#&"%#7,=#0(#,-&")#"]5W#&"0&(#,0#8"-"?#"#

7,8,-?#P0(#-,#$(0,0#&"*6.;0#8(*(#8,%(-(-#,0#,-,#-,0&.+(T##

R>#\(2#bW#-,#*(%,-&"0#+,#]5,#C(#-"%4"2#L5"0+(#%,-#+.4(#]5,#7(C#8(0#I(J"#S(-").(2#G.,0,0#*58A(#

8()"D,#8(0#,%%"2#:58A(#8()"D,#8(0#,%%"2#t222u#L(0#,%%"#-W#&.,0,0#8()"D,#XY3%6.K"=8#8C""

@C",6"+%F%&"+%" 6."*.+&%":&(*%&'"+%"L%&":'&"%6"F(%/"+%6"I(b'K"+%" 6."I(b.K"[K".+%*a)K"+%")H"

)%/-(+'" +%" )%&" ." -&.L1)" +%" )H)" I(b')!" P%-'*./+'" ." Va/3I%G" z&(/J.)K" ^6." *.+&%" %)" 6."

3'/)-&H33(E/")'3('3H6-H&.6"+%6"/H%L'")%&K"3'/L%&-(&6'"%/":%&)'/.!_"XVa/3I%GK"=88@4"#@C",/"

%)-%".):%3-'"6."6H3I.""L."%/3.*(/.+.K"/'")E6'"."%/3'/-&.&"5W)(3.*%/-%"."6."I(b.K"."L%&":'&"

174

)H" F(%/K" )(/'" ." &%(L(/+(3.&" )H" /'*F&%K" )H" :%&)'/.K" +.&6%" 3'/-%/(+'" ." H/."I()-'&(.K" +.&6%"

^)%/-(+'_" ." %)-." :1&+(+.K" IH*./(G.&" ." )H" I(b." :.&.K" .6"*()*'" -(%*:'K" IH*./(G.&)%" ." )W"

*()*.K" [" &%(L(/+(3.&)%" 3'*'"*.+&%" X)./.&K" +%" .6JH/."*./%&.K" 6." 3H6:." ]H%" %6" )()-%*."

3H6-H&.6"9:.-&(.&3.69")H%6%".-&(FH(&"."6."*.+&%C!"Y":.&-(&"+%")H"6H3I.K"3'/'3%&"["+.&6%")%/-(+'"

."6."6H3I."+%")H"I(b.K".")H"I(b."*()*.K"["3'/"%66'K".")H")%&!"

"

2)3!&C$D"!>&

!>#t222u#^-&,+?#P8/*(#+,-8).6.)W"#"#-5#A.D"T#R#j)*"222#

S>#V5,-222#C(#+.4(#]5,#,%%"222#,%%"#&"*6.;0#,)"#50"#$,)-(0"#*5C#+,8.+.+"#(#7"%.,0&,2#G"%#7,=#,0#,-,#

&.,*$(?#$,)(#X%&.*"*,0&,?#85"0+(#-,#7.(#"AW#C"#]5.;0#-"6,#8/*(222#8/*(#$,0-/#+,-$5;-?#$()]5,#

$5,-#A"-&"#"A()"#0(#$5,+(#-"6,)2#V()]5,#-W222#,%%"#$5,-#C(#+.4(#]5,#,)"#6.,0222# %"#.07.&")W"0#(#,%%"#

'5,# "%%Y# "# "0(&")-,?# $()# ,D,*$%(?# "%%Y# ,0# ,-"-# $")&,-# t+(0+,# ,-&5+.")(0TTu?# C# -,# 8(*$)(*,&./#

&"*6.;0#"#"0+")#8(0#,%%(-?#8(0#,0#,-"#()4"0.="8./02#V,)(#C"#+,-$5;-?#85"0+(#%"#"4"))")(0?#C(#+.4(#

]5,#"AW#$5,-#,-&Y#+.'W8.%#&"*6.;02#

D4"s|"H)-%+".6JH/."L%G")(/-(E"3'*'"%)-.!!!"]H%"FH%/'K":H%+%")%&"3'*'"6EJ(3'"-.*F(1/K!!!"3'*'"+%"%)-.&" H/" :'3'K" +%" 3(%&-." 5'&*.!!!" /'" *%" *.6%/-(%/+.K" :%&'" 3'*'" %/'b.+." +%" ]H%" )%" I.[."(/L'6H3&.+'"%/"%)-.)"3').)t"S>#V5,-#+,#$)(0&(?#85"0+(#50(#0(#8(0(8W"#,-&(?#$5,-#-W#+.8,#50(#H$()#]5;#-"6.,0+(#]5,#"%4X0#+W"#%,#

.6"#"#),-5%&")#*"%?#(#"-W222#0(#-;#$()#]5;# %(#A.=(K2#V5,-#-W?#$()]5,#50(#0(?#0(#,-&"6"#$")"#+,8.)222#

U5,)"#(&)"#8%"-,#+,#%58A"#(#(&)"#8%"-,#+,222#+,#]5,#0(#-,#+.,)"#50(#,-"-#$),(85$"8.(0,-222#V,)(#$5,-#

-W?#0(2#V,)(#C"#7.;0+(-,#,-(?#$5,-222#

D4"s|"3E*'"3.*F(E"%)-.")%/).3(E/"]H%"*%"+(3%t"S>#RA?#$5,-#$()#%(#*.-*(#+,#]5,#C"#50(#-.0&./#$5,-#]5,222#]5,#"]5W#C"#0(#,-&"6"?#]5,#C"#A"8W"#'"%&"2#

V5,-# C"# 50(# +.8,# H0(?# $5,-# C(# %(# 7(C# "# 65-8")?# *58A"-# *"+),-# %(# ,-&Y0# A"8.,0+(?# *58A"-#

A,)*"0"-222#V5,-#C(#&"*6.;0#7(C#"#A"8,)#%"#%58A"K2##XP%[/.K"=8#8C""A($5!&#

R>#v5,0(?#,%%"#,)"#50"#0.J"#*5C#"$%.8"+"?#*5C#8(0-8.,0&,#+,#&(+(# %(#]5,#A"8W"?#$,)(#&"*6.;0#-,#

]5,D"6"# +,# %(-#*"%&)"&(-# ]5,# -,# %,# A.8.,)"# "# %"# 4,0&,222# V()]5,# ,0# ,-,# "-$,8&(# -W# -,# $),(85$"6"#

*58A(#$()]5,#-,#&)"&")"#6.,0#"#%"#4,0&,2##

D4"sT'*'"+%)+%"]H1"%+.+t"R># MI,-+,# 8A.8"O#I,-+,# 8A.8"2#I,-+,# 8A.8"# '5,#"-W#*5C#,-&).8&"#,0# &(+"-# -5-# 8(-"-2#^0"# %.*$.,="#

-(6),#&(+(#,0#-5-#85"+,)0(-?#-5-#&"),"-#C#&(+(2#\508"#%,#45-&/#"0+")#7,-&.+"#="08(0"222#b.,*$),#%,#

D"%"6"#"%#7,-&.+(#$")"#]5,#,-&57.,)"#%")4(2#V,)(222#$5,-#-W#,)"#6,)).08A5+"#,0#,-,#"-$,8&(2#G,0W"#-5#

8")Y8&,)#'5,)&,#+,-+,#8A.8"2#V,)(#0(#4)(-,)"?#P0(T#b.0(222#,%%"#,<$%.8"#,%#$()#]5;#-,#*(%,-&"6"222#x#

"AW# '5,)(0# 8),8.,0+(?# 8),8.,0+(# C# $5,-# *5C# +,+.8"+"# "# %"# ,-85,%"2# :58A(# *5C# ,-&5+.(-"2# x# %,#

45-&"6"#%,,)2#I,-+,#8A.8"2#90#$).*,)#"J(#0(#-"6W"#0.#]5;#+,8W"?#0.#]5;#,-8).6W"2#V,)(#C"#]5,#,*$,=/#

"#%,,)?#%,#45-&/#*58A(#%"#%,8&5)"2#XY3%6.K"=8#8C"#

A+($5!&

D4"sTE*'"+%)3&(F(&W.)"."y.6%/-W/t"

175

R>#^0"#$,)-(0"?#,-&,222# 8(0#50#$()&,#*5C# '5,)&,2#q#-,"?# %"#7,=#$"-"+"#+,8W"?#"+,*Y-#+,#]5,#,)"#

"%&(?#-5#"-$,8&(222#-,#+,D"6"#%"#6")6"#C222#-,#7,W"#8(*(222#*5C#+,&,)*.0"0&,2#:5C#+,&,)*.0"0&,2#x#

8(*(#]5,#+,#$)(0&(#-W# -,# .*$(0W"2#b5#$,)-(0"%.+"+#-W# .*$(0W"2#V,)(#,0#,%# &)"&(#8(&.+."0(?#;%#,)"#

50"#$,)-(0"#$5,-#*5C222#65,0"#$,)-(0"p#$%"&.8"6"?#6)(*,"6"?#,-&,222#,0&,0+W"# %"# -.&5"8./0?#$,)(#

&"*6.;0#,)"#,<.4,0&,2#9)"#,-&).8&(2#t1u#:5C#-(%.+").(2#

#

"BC"T.).4")W*F'6'"+%6"3H%&:'"+%"6."*.+&%M"%6""LW/3H6'"3'/"6.)"+%).:.&%3(+.)""

T'*'"[.")%"*%/3('/E"3H./+'")%"I.F6.F."+%"*.-%&/(+.+"["+%"6."5(JH&."+%"^*.+&%):')._K"

%6" 3H%&:'"+%" 6."*.+&%K"+%" 6."*Hb%&K" ^/'" )%" .J'-."%/" )H)" 6W*(-%)"*.-%&(.6%)K" )%"%2-(%/+%"

)(*FE6(3.*%/-%"."6.)"3.GH%6.)K"."6')".6(*%/-')K"."6."3'3(/.K"."6."3.).!",)"H/"%):.3('")(%*:&%"

+():H%)-'"."3.&J.&K"["."&%3(F(&".6"(&)(!"Ñ!!!Ö",6"3H%&:'"5%*%/(/'"%)"%6"%):.3('"+%"L(+."./-%)"["

+%):H1)"+%6"/.3(*(%/-'"Ñ!!!Ö!_"D."3.).#^X%):.3('"+%"&%)(+%/3(.C&)%"6%".)(*(6.")(*FE6(3.*%/-%"

." 6." 5.*(6(." [" ." 6')":.+&%)" X%/".6JH/')" )()-%*.)" 5.*(6(.&%)K" ." 6."*.+&%C_" XD.J.&+%K"#<<84"

=;=d" =?7C2" V(JH(%/+'" %)-%" .&JH*%/-'K" :H%+%" 3'/)(+%&.&)%" 6." 3.)." 3'*'" H/" )W*F'6'" +%6"

3H%&:'"["+%6"3H(+.+'"+%"6."*.+&%!"

D."&%):'/).F(6(+.+"+%"6.")%JH&(+.+"&%3.%K":'&"-./-'K"%/"%6"I'J.&K"["%6",)-.+'"-(%/+%"

." ]H%+.&" +()3H&)(L.*%/-%" +%)6(/+.+'" +%" %)-%" .)H/-'d" +%" %)-'" )%" )(JH%" ]H%K" .6" )%&" 6."

*"+),-$(-"# 6." &%):'/).F6%" +%" 3H(+.&" %)-%" %):.3('K" +%6" ^*./-%/(*(%/-'" +%6" *H/+'"

+'*1)-(3'K" +%" 6." 3.).K" 3'/" )H)" 3')-H*F&%)" [" -&.+(3('/%)_" XD.J.&+%K" #<<84" B@@CK" -%&*(/."

&%3.[%/+'"6."&%):'/).F(6(+.+"+%6"F(%/"["+%6"3H(+.+'"+%"6')"I(b')"%/"%)-."5(JH&."X%/"P%[/."["

%/"Y3%6.K"%/":.&-(3H6.&CK")(%/+'"6."8"-"")H")W*F'6'!"

$./-'" %/" %6" 3.)'"+%"Y3%6." 3'*'"%/" %6" +%"P%[/.K" .H/]H%" %/" 6')" c6-(*')" @8" .`')"

I.[./" %2()-(+'" 5.3-'&%)K" 3'*:6(3.3('/%)" [" 3'/+(3('/%)" *.-%&(.6%)" [" %3'/E*(3.)" ]H%"

:H+(%&./")HJ%&(&"*H+.&)%"+%"6."3.)."+'/+%"&%)(+%/"%/"6.".3-H.6(+.+K"%2()-%"H/."&%)()-%/3(."

["&%/H%/3(."5H%&-%"."I.3%&6'!""

,)-'"%)".6J'"]H%".3'/-%3%"3'/"5&%3H%/3(."%/"5.*(6(.&%)"+%"+%).:.&%3(+')":'6W-(3')K"

["*H3I'"-(%/%"]H%"L%&"3'/"6."3H6:.".)'3(.+."+%"^%6.F'&.&_"H/"+H%6'K"^[."]H%"%6"3'/-(/H.&"

3'/" 6." :&':(." L(+." )(/" 6." 3%&-%G." +%" 6." *H%&-%" %)" (/-%&:&%-.+'" 3'*'" H/." -&.(3(E/K"

%]H(L.6%/-%" ." Ç*.-.&Ç" .6" )%&" ]H%&(+'" +%).:.&%3(+'!_" XR%" y%33I("w"ZE*%GK" =88;4" A#C!" D."

^:.&-(3H6.&" +(5(3H6-.+" [" 6')" )%/-(*(%/-')" +%" 3H6:." &%6.3('/.+')" ." I%3I')" 3'*'" &%I.3%&"

176

5.*(6(.)K"X!!!C"*'L%&)%"+%"6HJ.&"["/'"%):%&.&".6"+,-"$"),8.+(_"XR%"y%33I("w"ZE*%GK"=88;4"

#8<C")'/"3'*H/%)"%/"%)-')"3.)')!"""

R(3I."(*:')(F(6(+.+"+%"*H+.&)%":H%+%"%2:6(3.&)%"+%)+%"*a)"+%"H/"6HJ.&4"&%/H/3(.&"

."H/" 6HJ.&"+'/+%"+H&./-%"-./-')".`')"-./-.)"3').)")%"3'/)-&H[%&'/K" (*:6(3.&W.":%&+%&"%6"

3'/-&'6" +%" %)-%":&'3%)'" " J./.+'d" )%JH/+'K" ["*H[" (*:'&-./-%K" )%" -&.-." %)-%" %):.3('K" %/"

.*F')"3.)')K"+%".]H%6"]H%"L('"3&%3%&"." 6."I(b."+%).:.&%3(+.d"I.[K":'&" -./-'K"*%*'&(."["

.:%J'"%*'3('/.6"(/L'6H3&.+')!",/"-%&3%&"6HJ.&K"%)"%)-."3.)."6."]H%"6."I(b."^+%bE_!"V%&W."1)-."

6."F.)%K" 6.":&(*%&."["c6-(*."&%5%&%/3(."." 6."3H.6"%66.":'+&W.".6Jc/"+W."&%J&%).&!",/"3H.&-'"

6HJ.&K" [" &%6.3('/.+'" 3'/" %)-'" c6-(*'K" %6" I%3I'" +%" +%)3H(+.&)%K" +%" .F./+'/.&)%" %)-%"

%):.3('K")(*F'6(G.&W."+%".6JH/."*./%&."%6".3-'"+%"&%-(&.&"6')"F&.G')"["+.&6%"6."%):.6+."."6."

I(b."]H%"6."*.+&%"/%3%)(-.").F%&"]H%"L'6L%&a!""

&A($5!&!>#x?#$()#,D,*$%(?#,-(#]5,#%,#+,8W"0#+,#*5+")-,#+,#,-&"#8"-"?#P5-&,+#0(#%(#8(0-.+,)"T#

R>#9-(#,-#%(#]5,#0508"#7(C#"#"8,$&")2#\(2##

!>#Px#]5;#%,#A"0#+.8A(#,0&(08,-#-5-#A.D(-T##

R># V5,-# ]5,# %"# 7,0+"?# ]5,# 0(-# 7"C"*(-# "# (&)(# %"+(?# +(0+,# 0(# ,-&,*(-# ,08.*"+(-2# V,)(# 0(?# C(#

-.,0&(#]5,?#"%#.)*,#"#(&)(#%"+(?#%"#7(C#"#$,)+,)#*Y-2#x#C(#-;#]5,?#"%#,-&")#"]5W?#50#+W"#7"#"#%%,4")#C#

"]5W#7"*(-#"#,-&")2#XY3%6.K"=8#8C""

i'&" c6-(*'K" [" -.*F(1/K" .)'3(.+'" 3'/" 6'" ./-%&('&K" :'+%*')" *%/3('/.&" H/" .):%3-'"

3.&.3-%&W)-(3'"+%"6."+%).:.&(3(E/4""

"

DH+*(6."T.-%6."3'/+(3('/."6."3.-%J'&W."+,-"$"),8.+(#."-&%)"IH%3')K"-&%)"5.6-.)4"+%"3H%&:'K#

+%")%:H6-H&.#[#+,#50#*(*,0&(#+,#+5,%(K#XR%"y%33I("w"ZE*%GK"=88;4"A=C2"D'"]H%"*a)"5.6-."

%/" %)-')" 3.)')" %)" :&%3().*%/-%" 50# %54")!" Y6" /'" I.F%&" 3H%&:'K" /'" :H%+%" 6'3.6(G.&)%" /("

3(&3H/)3&(F(&)%"6.":1&+(+.!""P%):%3-'".6"+H%6'K"DH+*(6."T.-%6."*%/3('/."]H%"%)"%6"3H%&:'"%6"

%(85-"%)%/3(.6"+%"6')"&(-H.6%)"+%"*H%&-%K"*()*')"]H%"^:%&*(-%/"&%3&%.&"6."&%6.3(E/"3'/"%6"

)%&"]H%&(+'"]H%")%"L('"-&H/3.+."3'/"6."*H%&-%_"XR%"y%33I("w"ZE*%GK"=88;4"A=C!"R%".]HW"

]H%")%":&%JH/-.4"

#L(0#%"#'"%&"#+,#85,)$(#B13?#P]5;#,-$"8.(-#-(0#),8),"+(-#$")"#+")#85,0&"#+,#,-"#)5$&5)"T#

PI/0+,# ,-# %(8"%.="+"# %"# *5,)&,T# PV")"# +/0+,# -,# &)"0-$()&"# %"# ,0,)4W"# 8(08,0&)"+"#

+,%"0&,#+,#%"#-,$5%&5)"#+,#50#A.D(?#50#$"+),?#50#A,)*"0(#*5,)&(T#PL/*(#-(0#),")*"+"-#C#

177

8(0-&)5.+"-# %"-# 8%"-.'.8"8.(0,-# -(6),# %"# *5,)&,T# PL/*(# ,-# 8")"8&,).="+"# C# ,<$),-"+"T#

XT.-%6.K"=88=4"##BC"""R%" y%33I(" [" ZE*%GK" :.&." /'" +.&" :'&" )%/-.+." 6." (+%." +%" 6." *H%&-%" +%6" +%).:.&%3(+'K"

+%3(+%/"&%:6./-%.&"%)-.)":&%JH/-.)"+%"6.")(JH(%/-%"*./%&.4""

#L(0#%"#'"%&"#+,#85,)$(?#+,#$),-,08."?#+,#-,J"%,-?#+,#.0'()*"8./0#-(6),#,%#+,-&.0(#C#,%#$")"+,)(#+,%#

+,-"$"),8.+(?#P]5;#,-$"8.(-#-(0#),8),"+(-#$")"#+")#85,0&"#+,#%"#)5$&5)"#8(0#,-&,#X%&.*(T#PI/0+,#

,-#%(8"%.="+"#%"#$;)+.+"T#P@"8."#+/0+,#,-#+.).4.+"#%"#,0,)4W"#%.6.+.0"%?#$-W]5.8"#+,#%(-#'"*.%."),-#C#

"*.4(-# "0&,# %"# "5-,08."T# PL/*(# -(0# ),")*"+"-# C# 8(0-&)5.+"-# %"-# 8%"-.'.8"8.(0,-# -(6),# ,-"#

$;)+.+"T#PL/*(#,-#8")"8&,).="+"#C#,<$),-"+"T#PL/*(#-,#%,#0(*6)"T"XR%"y%33I("w"ZE*%GK"=88;4"A@C"#

!"#8"-">#50#%54")#$")"#%(-#+,-"$"),8.+(-p#50#%54")##$")"#%(8"%.=")#%"#$;)+.+"#

"

R%"y%33I(" ["ZE*%GK"]H%" &%-'*./"."T.-%6.K"I.F6./"+%6":.:%6"]H%" -(%/%/" 6." (*.J%/"[" 6')"

'Fb%-')":%&-%/%3(%/-%)".6"5.*(6(.&"+%).:.&%3(+'":.&."+%6(*(-.&"6HJ.&%)"+%"^3H6-'_"'"^&(-'_d"

:.&." +%6(*(-.&" H/" %):.3('" :.&." %6" +%).:.&%3(+'!" i'+&W." %2-&.:'6.&)%" %)-'" -.*F(1/" ." 6."

3.).K" c6-(*." &%5%&%/3(.?=" +%6" +%).:.&%3(+'K" c/(3." &%5%&%/3(." %):.3(.6" ]H%" H/%" [" +%" 6')"

:'3')" 6HJ.&%)"+%" 6')"]H%" )%" -(%/%" 3'/-&'6" X5&%/-%"." -'+'" 6'"+%*a)"]H%"]H%+." (/3(%&-'" ["

5H%&." +%" 3'/-&'6C!" V(*F'6(G." 1)-.K" :H%)K" 6." 5'&*." +%" %)-.&" ^*a)" 3%&3._" +%" 6." I(b."

+%).:.&%3(+.!""XR%"y%33I("w"ZE*%GK"=88;4"7BC"D."3.)."-(%/%K":'&"-./-'"H/."3.&J.")(*FE6(3."

*H["5H%&-%"%/"%)-%")%/-(+'!""

"BC" Q-&." 5'&*." +%" :&'+H33('/%)" [" &%:&'+H33('/%)4" |." ,6(G.F%-I" 0.(%&" I.FW." I%3I'"

./-%&('&*%/-%" H/" -&.F.b'"*H[" (/-%&%)./-%" )'F&%" 6." :.&-(3(:.3(E/" :'6W-(3." +%"*.+&%)" +%"

+%).:.&%3(+')K" [" &%-'*." :&%3().*%/-%" %6" 3.)'" +%" .6JH/.)" +%" 6.)" +'`.)" +%6" T'*(-1"

o,H&%p.q" :.&." %6" ./a6()()!" ,2()-%" H/." )(-H.3(E/" .3-H.6" +%6" T'*(-1" ]H%" %)-a" +%L%6./+'"

.)H/-')" (*:'&-./-%)" %" (/-%&%)./-%)K" [" *H[" +%6(3.+')K" ]H%" %/" %)-H+(')" :&%L(')" ." %)-."

3'[H/-H&.".3-H.6"]H%"L(L%"%6"T'*(-1"/'")%":H+(%&'/"I.F%&"'F)%&L.+'"-./"36.&.*%/-%!"V%"

-&.-." +%" %)-." )(-H.3(E/" +%" +%F(6(-.*(%/-'" +%6" T'*(-1" ]H%" &%):'/+%K" %/" J&./" :.&-%K" ." 6."

?= $./(.K"I(b."+%"+%).:.&%3(+'":'6W-(3'"*%2(3./'K"%/" 6." 5./-.)W."+%6" &%J&%)'"+%" )H":.+&%K"*%/3('/.4" ^]H%"

5H%&."%)'"6'"c/(3'"]H%"&%3'&+.F."+%/-&'"+%"-'+'"6'"]H%"-HL'"]H%"'6L(+.&":'&"6.)"-'&-H&.)!"R(3(%/+'"ÇL.K"6'"c6-(*'" ]H%" )%" L." ." ]H%+.&" %)" 6." +(&%33(E/K" '" 6.)" 3''&+%/.+.)" :.&." 66%J.&" ." )H" 3.).Ç!" ,/-'/3%)" *%" 6'"(*.J(/.F."66%J./+'K".)W!_"X"$./(."%/"R%"y%33I("["ZE*%GK"=88;4"#@<C"

178

3'/)-&H33(E/"+%"H/"J&H:'"+%"3'&-%"*a)"F(%/"L%&-(3.6!"R'`."P').&('" NF.&&."+%"i(%+&." 5H%"

]H(%/K"3'/".`')"+%"-&.F.b'K"3'/-&(FH[E".6"/.3(*(%/-'"+%"%)-."'&J./(G.3(E/!"D')"6'J&')")'/"

*H3I')"["*H["(*:'&-./-%)K"+(J/')"+%"&%3'/'3%&)%!"V(/"%*F.&J'K"%6"L(J'&"["5H%&G."+%"%)-."

*Hb%&")W"3&%E"H/"(//%J.F6%"6(+%&.GJ'!"Y":%).&"+%"]H%"%/"%6"+()3H&)'")%"I.F6%"["I.J."1/5.)()"

%/"H/."I'&(G'/-.6(+.+"["%/"6."(*:'&-./3(."+%"-'+')"6')"+%).:.&%3(+')K"+%"6."3'/+(3(E/"+%"

(JH.6+.+"+%"-'+.)" 6.)"^+'`.)_"]H%"3'/5'&*./" 6."'&J./(G.3(E/K"%/"%)-.)"%/-&%L()-.)":H+'"

.:&%3(.&)%" H/" 36.&'" )%/-(*(%/-'" +%" .F./+'/'" X:'&" :.&-%" +%" P').&('" NF.&&." ]H%K" )(%/+'"

)%/.+'&." +%6" J'F(%&/'" +%6" R!h!K" )%" ^%):%&.F._" ]H%" I(3(%&." *a)" [" I." I%3I'K" :'&" %6"

3'/-&.&('K"*%/')C!" T'/" )H" .H)%/3(." X(/-%&:&%-.+'" 3'*'" .F./+'/'C" %6" 3'*(-1" I." I%3I'K"

:'&"3H%/-.":&':(.K"*H[":'3'!"R%"%)-."5'&*.")%"%L(+%/3(."6."+%:%/+%/3(."[")HF'&+(/.3(E/"

:'&" :.&-%" +%" .6JH/.)" +%" 6.)" %/-&%L()-.+.)d" )%" &%:&'+H3%K" (/36H)'" %/" %)-%" %):.3('" +%"

^)HFL%&)(E/_" 5%*%/(/.K" +%" .6JH/." H" '-&." 5'&*.K" 6." )HF'&+(/.3(E/K" 6." +%:%/+%/3(." X6'"

:.-&(.&3.6K" I.)-." 3(%&-'" :H/-'C!" S/." 3(-." +%" D.J.&+%" :H%+%" %2:&%).&" F.)-./-%" +%" 6'" ]H%"

:%&3(FW"%/".6JH/.)"+%"6.)"%/-&%L()-.)4"

"

b.#%"-#*5D,),-#.085)-.(0"0#,0#%"#7.+"#$X6%.8"#%(#A"8,0#8(0#&(+"#%"#8")4"#$,)-(0"%?#$).7"+"?#

+(*;-&.8"2# V()# ,D,*$%(?# %"# &.*.+,=# ,-# 50# $,-")# 4,0,)"%.="+(# ,0&),# ,%%"-?# C# -/%(# ,-# %"#

,<$),-./0#,*(8.(0"%#+,# %"# .0-,45).+"+#.0&,)0"%.="+"#+,#]5.,0,-#A"0#+,6.+(#A"6%")#,0#7(=#

6"D"?# (6,+,8,)# +,-+,# %"# "5&(+,7"%5"8./0# $(%W&.8"2# !"# *5D,)# ]5,# ,-# 8"$"=# +,# ,<A.6.)# -5#

'.45)"# "0&,# 8.,0&(-# +,# $,)-(0"-# ,-# .08"$"=# +,# "6).)# %"# 6(8"# C# ")&.85%")# 50# +.-85)-(#

,-&)58&5)"+(#8(0#-,45).+"+2#!"#&.*.+,=#0(#,-#50"#85"%.+"+#,<8%5-.7"#+,#%"-#*5D,),-#-.0(#+,#

%(-# ($).*.+(-?# %(-# ]5,# -(0# 8(0-.+,)"+(-# .0',).(),-?# %"# .0*,0-"# *"C()W"# +,# %(-# -,),-#

A5*"0(-2# 9-,# )"-4(# $-.8(%/4.8(?# -,# ),%"8.(0"# +.),8&"*,0&,# 8(0# ,%# %54")# ]5,# 8"+"# ]5.,0#

(85$"#,0#%"#-(8.,+"+#C#,0#%"#85%&5)"%2#B!"4")+,?#Fiif>#Zfg3#

"" "2)3!&A($5!>&!>#Px#5-&,+?#$()#,D,*$%(?#,0#%"-#),50.(0,-#(#,0#,-,#&.$(#+,#7.-.&"-?#%%,4/#"#$")&.8.$")T#

R># V5,-# -W# $()]5,# 0(-# +,8W"0?# $5,-# &,0W"*(-# ]5,# ,<$(0,)# ,%# $)(6%,*"?# P0(T# L/*(# A"6W"# -.+(?#

8/*(#-,#A"6W"#(8"-.(0"+(222#

!>#Px#8/*(#-,#-.0&./#5-&,+#%"#$).*,)"#7,=#]5,#&57(#]5,222T#

R>#V")"#*W#A"# -.+(#*5C#+.'W8.%# A"6%")2#\(?# -.*$%,*,0&,# 85"0+(# '5.*(-#"# %(-#V.0(-?# -,# -,0&W"#50(#

*,+.(222#:,#-,0&W"#C(222#$5,-#)")"?#,0&),#,%%(-2#V5,-# %(#X0.8(#]5,#C(#$5+,#+,8.)# '5,#-5#0(*6),#+,#

@.%+"?# ]5.;0# %"# A"6W"#+,-"$"),8.+(?# $()]5,# C"# %5,4(# -5$,#]5,# %"#v).4"+"#v%"08"#,)"# ,%222# 85,)$(#

*Y-# 4)"0+,# ]5,# A"6W"# $")"# %"# +,-"$").8./0222# ,0# ,-,# &.,*$(2# V()]5,# ,%# &,-&.*(0.(# ]5,# A56(# +,#

$,)-(0"-# ]5,# -,# +.,)(0# 85,0&"# 85"0+(# -,# %%,7")(0# "# a5"0# L")%(-?# $5,-# +.D,)(0# ]5,# ,)"# v).4"+"#

v%"08"2#x#"%#(&)(#+W"#+,-"$"),8,#,%%"222# x# ,0&(08,-# &"*6.;0#9);0+.)"#*,#+.8,# HP-"6,#]5;T#U5,# %"#

v).4"+"#v%"08"#]5.,0#-,# %"# %%,7/K2#90&(08,-# &(+"#,-"#-.&5"8./02#x#8(*(# %,#+,8W"#C(#"%#V),-.+,0&,>#

179

]5;#+(%()(-(#,)"#,-&")#$"-"0+(#$()#,-"#-.&5"8./0#C#]5,#,%%(-#,-&"6"0#,0#,%#$(+,)?#]5,#8(*(#D,',-#

+,222#*"0+"&(#+,%#,D;)8.&(?#,0#-5-#*"0(-#,-&"6"#,%#$(+,)#%.6,)")#"#&(+"#,-"#4,0&,?#P0(T#V()]5,#]5;#

-,0&.)W"#;%222##XY3%6.K"=8#8C"#

,/"R'`."P%[/.")%":%&3(F%"%/"3(%&-')"*'*%/-')"H/"-(/-%"+%")HF%)-(*.3(E/K":%&'"-.*F(1/"

)%"(+%/-(5(."H/".H-'9&%3'/'3(*(%/-'"X+.+'K".")H"L%GK"-.*F(1/":'&"%6")H5&(*(%/-'C4"

&2)3!&C$D"!>&&S>#V5,-#,0#,%#-,0&.+(#+,222#,0#,%#-,0&.+(#+,#-"%.)?#+,222#$")"#.)#A"-&"222#$()]5,#0(#&(+"-#-,#"0.*"0#C#

0(#&(+"-#-"%,0?#C#0(#&(+"-#-,#")).,-4"0?#"#")).,-4")-,#"AW222#V,)(#C(#0(#*,#8(0-.+,)(#*5C?#,-&,222#

$()#,D,*$%(#]5,#C(#A".4"#-.+(#*5C#4)"0+,?#0(2#\(?#,-&"*(-#"%#0.7,%#+,#%"-#8(*$"J,)"-2##

!>#t222u#b.#5-&,+#'5,)"#(&)"#$,)-(0"#C#A"6%")"#+,#+(J"#S,C0"?#P8/*(#+.)W"#]5,#,-T#

S>#V5,-#*,#"+*.)"6"?#8(*(#-,"#,-"#$"%"6)"?#+,#+,8.)#65,0(222#]5.;0#7"#"#8),,)#]5,#,-"#$,)-(0"#

"0+"#$()#"%%Y2#Q5.;0#7"#"#8),,)#]5,#,-"#$,)-(0"#&.,0,#,-(-#$)(6%,*"-2#x#0(#%"#8(0-.+,)(#"-W#&"0222#

&"0#.0&,%.4,0&,?#C#*.)"#0(*Y-2#XP%[/.K"=8#8C##"

AC"$&./)5'&*.3('/%)4""

A!# ,/"6.)"&%6.3('/%)"+%":.&%/-%)3'"

! F3&3<&@CB23&D62&<;3@D23X&S/."*.+&%"/'"+%b.&a"+%"-%/%&"%)-%":.:%6!"T'*'"

+(3%/"V3I~-G"["DH3p*./"X=88@CK"%2()-%/"&%6.3('/%)")'3(.6%)"]H%")E6'":H%+%/"

3'/)-(-H(&)%" %/" 6'" (/*%+(.-'K" :%&'" I.[" 3'/+(3('/%)" F('J&a5(3.)" (*:H%)-.)"

]H%")H:'/%/"&'6%)"F(')'3(.6%)K"$.6"%)"%6"3.)'"+%" 6." &%6.3(E/"*.+&%9I(b'X.C!"

S/."*.+&%K"*(%/-&.)"L(L.K"/'"L."."+%b.&"+%")%&6'!"D'"X:&%C)H:H%)-'"%)"]H%"

6')"I(b')"6."-&.)3(%/+./"."%66.K"["/'".6"&%L1)!"i'&"6'"-./-'K"%/"%6"3.)'"+%"H/."

+%).:.&(3(E/K" )(" F(%/" :.&." 3H.6]H(%&" 5.*(6(.&" &%)H6-." +(5W3(6" X'" (*:')(F6%C"

.)H*(&" H/." :1&+(+." +%5(/(-(L.K" :.&." H/." *.+&%" 6'" %)K" 3H6-H&.6*%/-%"

I.F6./+'K"(/3'/3%F(F6%!""

! T&%'"]H%"%/"%6"3.)'"+%"6."+%).:.&(3(E/"+%"H/"5.*(6(.&K")%"-&.-%"+%"H/."I(b."'"

H/"I%&*./'K"6.)"&%6.3('/%)"+%":.&%/-%)3'"X5.*(6(.&%)C":H%+%/"(/-%/)(5(3.&)%"

:'&" %)-%" J&.+(%/-%K" :'&" %)-%" 5.6-./-%!" D." .H)%/3(." +%6" +%).:.&%3(+'" )%"

LH%6L%"*a)":&%)%/-%K"[":'&"6'"-./-'K")%"%)"*a)"I%&*./.K"%/"H/"3.)'K"["*a)"

*.+&%K" %/" '-&'!" ,/" %6" 3.)'" +%" Y(3%6." I.F&W." ]H%" :&%JH/-.&)%4" s]H(1/" %)"

]H(%/" FH)3.t" sVH" I%&*./.K" '" )H" ^I%&%+%&._" XI(b.K" I.)-." 3(%&-'" :H/-'C" +%"

.]H16K" )H" -H-'&K" .6" ]H%"+%F%t",/"%)-')" 3.)')K" ."*(" :.&%3%&K" 6.)" &%6.3('/%)"

180

L./" *H-./+'K" )%" L./" -&./)5'&*./+'K" &%)(J/(5(3./+'4" i'&" H/" 6.+'K" 6."

I%&*./.K" ]H%" %)" ^I(b._" +%" )H" I%&*./'" X-H-'&CK" 6H%J'" .+':-." H/" :'3'" %6"

:.:%6" +%" *.+&%d" 6%" -'3." .+':-.&" %)-%" :.:%6" ]H%" )H" *.+&%" /'" :H%+%"

3H*:6(&d" %/" 6.)" %/-&%L()-.)" ]H%+." 36.&'" ]H%" %)" .6J'" ]H%" 6%" ^+%F%_" ." )H"

*.+&%K"3'*'"I(b.!",)"+%3(&K"3'*'"I(b.K" 6%"+%F%".")H"*.+&%"I.3%&" 6.)"L%3%)"

+%" *.+&%" X:'&" )H" :')(3(E/" 36.L%" [" 3%&3./W." 3'/" %6" .*F(%/-%" +%6"

+%).:.&%3(+'C" [" FH)3.&" ." )H" I%&*./'" X%)-%" :.:%6" +%" .)H*(&"

&%):'/).F(6(+.+%)" %/" )H" 5.*(6(." )(%*:&%" 5H%" H/." 3'/)-./-%C!" 0a)" -.&+%"

-.*F(1/"&%)(J/(5(3." 6."&%6.3(E/"3'/")H"I%&*./'"3'*'" 6."+%"H/"3'*:.`%&'"

+%" 6H3I.!" Q-&."*./(5%)-.3(E/" +%" %)-%" :.:%6" +%"*.+&%" ]H%" Y(3%6." 3H*:6%"

$")"#6."5.*(6(.K"%)"6."+%6"I.3%&)%"3.&J'"+%"'-&'"+%")H)"I%&*./')K"]H%")H5&%"

+%"H/"+%)'&+%/"*%/-.6"X%)]H(G'5&%/(.":.&./'(+%C!",)-'"&%)H6-."&%6%L./-%"%/"

-./-'"%)"%)-%"c6-(*'K" bH/-'"3'/"Y(3%6.K"%6"*a)"3%&3./'".6"+%).:.&%3(+'!"V%"

.)'3(." X3.H).6*%/-%CK" .+%*a)K" 6." %/5%&*%+.+" +%" %)-%" I%&*./'" 3'/" 6."

+%).:.&(3(E/"+%"y.6%/-W/!",/"Y3%6."["P%[/.")%"+."H/":&'3%)'"H/":'3'"." 6."

(/L%&).4"6."&%6.3(E/":&%+'*(/./-%"%)K":'&")H:H%)-'"X["/'"+%b.&a"+%")%&6'C"6."

+%"*"+),[A.D"2#V(/"%*F.&J'K"-.*F(1/K"3'*'"F(%/"" *%/3('/./" NF.&&.K"

0.(%&K"h(63"X%/-&%"'-&.)".H-'&.)C"6.)"*.+&%)")%"3'/L(%&-%/"%/"A.D"-#$(%W&.8"-#

+%")H)"I(b.)"F('6EJ(3.)!"Y"-&.L1)"+%"6."6H3I."["6.)"/H%L.)":H%&-.)"" ]H%" )%"

L./" .F&(%/+'K" 6')" /H%L')" I'&(G'/-%)" [" &%.6(+.+%)K" %)-.)" *.+&%)" L./"

3'/'3(%/+'K"3'*:&%/+(%/+'K".:&%/+(%/+'K".:&%I%/+(%/+'"%"(/-%&('&(G./+'"

9%/"H/".3-'"+%" &%3'/3(6(.3(E/K" 3'*:&%/)(E/K" &%(L(/+(3.3(E/9" .]H%66'":'&" 6'"

]H%")H)"I(b.)"6H3I.F./!",/"" %)-%" )%/-(+'" %)" ]H%" )%" LH%6L%/" I(b.)!" hH%&'/"

)H)"*()*.)"I(b.)"]H(%/%)"6.)":.&(%&'/":'6W-(3.*%/-%"I.F6./+'!"

&&2)3!&C$D"!>&D4"s|"3E*'"3&%%"H)-%+"]H%"I.[."3.*F(.+'")H"(+%."+%"6'"]H%"%)"%)-.")(-H.3(E/":'6W-(3."+%"012(3'".":.&-(&"+%"]H%"L(L(E"-'+'"%)-'t"sTE*'"3.*F(E"%/")H)"IaF(-')!!!t"S># P:.# 7.+"# *W"T# V5,-# A56(# 50# 8"*6.(# +,# -"6,)# ]5;# 7.+"# ,-&(C# 7.7.,0+(?# 8/*(# ,)"# *.# A.D"?#

+,-856).)#8/*(#,-&Y#,%#4(6.,)0(?#8/*(#,-#,%#4(6.,)0(?#A"-&"#+/0+,#%%,4"#&"*6.;0#+,#A"8,)#,-(#8(0#

%(-# D/7,0,-2# V()# ,D,*$%(?# ,-&,222# 85"0+(#A56(# %"#*"&"0="#+,%# mg?# 8/*(#A56(# %"#*"&"0="#+,%# eF2#

181

90&(08,-#&(+(#,-(#&"*6.;0#0(-222#-,#$(0,#50(#"#$,0-")#]5,#,-&(-#*58A"8A(-#&"*6.;0#8(*(#]5,#

8),8.,)(0?# $,)(# C"# 8(0# ,%# 4(6.,)0(# C"# ]5,)W"0222# "A()"# -W# ]5,# ,-&")?# ,-&,222# ),-8"&")# 50# $(8(# %"#

*,*()."#+,#-5-#8(*$"J,)(-2#x#$()#"AW#%(#$(8(#]5,#-,#*,#7.,0,#C#%(#]5,#0(?#$5,-#"A()"#-W#]5,222##

D4" |" I.F6./+'" +%" H)-%+" *()*.K" +%" +'`." P%[/.K" s3E*'" )%" L%" H)-%+" ./-%)" [" +%):H1)" +%" %)-%"*'*%/-'"]H%"6%"+%).:.&%3%/".")H"I(b.t"sTE*'"3&%%"]H%"I.[."3.*F(.+'"H)-%+"3'*'":%&)'/.t"S>#@,#8"*6."+(#50#$(8(#+,#().,0&")*,#*Y-?#+,#%"-#-"%.+"-?#50#$(8(#$5,-222#A"6%")#50#$(8(#+,#,-(#

*.-*(#+,# %"#$(%W&.8"?#+,%#4(6.,)0(?#+,#,%%(-?#]5,#05,-&)(-#A.D(-?#0(# -;222# V),8.-"*,0&,# 8(*(#"C,)#

"0+"6"0#+.8.,0+(#]5,#'5,)(0#50"#-,*.%%.&"2#V,)(#$5,-#C(#0(#-;2#R#%"#*,)"#7,)+"+#"#*W#0(222#0(#%(-222#

0(#%(-#"+()0(#"-W#*58A(#]5,#A.8.,)(0#*58A(2#PV()#]5;T#V()]5,#-.#A56.,)"0#,-&"+(#*Y-#&.,*$(?#-W#

7"#"#A"6,)?#$,)(#8(*(#%(-#"4"))")(0#$5,-#0(#-5$.*(-#*58A(#]5;#,)"# %(#]5,#-5-222#-5#"%8"08,#+,#

A"-&"#+/0+,#.6"0#"#%%,4")2##

D4"s|"."]H1")%"&%5(%&%"3'/"6'"+%"6.")%*(66(-.t"S># V5,-# ]5,# ,%%(-# ,*$,=")(0# "# A"8,)222# !(# *.-*(?# 7(%7,*(-# "# %(# *.-*(2# I,# ]5,# ,)"0# D/7,0,-#

$(%W&.8(-?# D/7,0,-222# ]5,# +,-$5;-# ,%%(-# C"# -,# +,-"$"),8.,)(0?# C# *58A"# 4,0&,# $5,-# "4"))/# ,-,#

8"*.0(222#(#0(-(&)"-?#$")"#-,45.)#-5#%58A"2##

D4"s|"H)-%+")(%/-%"]H%"H)-%+")(JH%")H"6H3I."+%".6JH/."*./%&.t"S>#V5,-#$()222#$()# ),-8"&")%(-?#$()]5,222#65,0(?#0(-(&)(-#0(#$,+.*(-#8(*(#,%%(-# %(#$,+W"0?# %(#]5,#

,%%(-# ]5,)W"0# +,%# d(6.,)0(2# !(# X0.8(# ]5,# 50(# ]5.,),# ,-# ]5,# ,%# d(6.,)0(# %(-# $),-,0&,?# (# ]5,# ,%#

d(6.,)0(?#$()#,D,*$%(?#A"C#8Y)8,%,-?#C#]5,#"AW?#$()#,D,*$%(?#85*$%.,)"0?#C(#0(#-;?#+.,=?#]5.08,#"J(-#

"AW#,0#%"#8Y)8,%?#]5,#$"4")"0#-5#8(0+,0"?#%(#]5,#,%%(-222#b.#),-5%&"6"0?#$()#,D,*$%(?#]5,#&,0W"0#50#

+,%.&(?#$5,-222#;-"#,)"#05,-&)(#*(+(#+,#$,+.)#"%#d(6.,)0(2#XP%[/.K"=8#8C"#A($5!>&90&(08,-#-,#+"#85,0&"#50(#+,#&(+"-#,-"-#8(-"-#85"0+(#,*$.,="#50(#"#-"%.)?#85"0+(#,*$.,="#50(#"#

7,)#%"#-.&5"8./0#]5,#,-&"*(-#7.7.,0+(?#P0(T#90&(08,-222#"]5W#,0#%"#G,%,-,850+")."?#%(-#*",-&)(-#+,#

"AW?# 85"0+(# -5$.,)(0# %(# +,# @.%+"?# $()]5,# $()# ,%%(-# -5$,222# -5$,# C(# %"# +,-"$").8./0# 8/*(# -,# .6"#

*"0,D"0+(?#8/*(#-,#.6"#"8&5"0+(?#$()]5,#,%%(-#,0#V)(8,-(#7.,)(0#%"#'(&(4)"'W"#+,#*.#A.D"2#9-&"6"#

8(*(# +,-"$"),8.+"2# 90&(08,-# C"# 7.0.,)(0# C#*,# +.D,)(0222# C#*,# +,8W"# ,%#*",-&)(># H-,J()"?# 5-&,+#

&.,0,#50"#A.D"#*5C#4)"0+,?#8(0#*58A(#7"%()2#!(#]5,#,%%"#,-&Y#A"8.,0+(#0(#,-#0"+"#*"%(2#9-#"6).)%,#

%(-#(D(-#"#%"#4,0&,2#9-&Y#%58A"0+(#$()#"%4(222K#x#%,#+,8W"#C(#]5,#H,-#+.'W8.%#*",-&)(2#b"6,#50(#%(#]5,#

&.,0,#50(#,0#-5#8"-"?#$,)(#0(#-"6,#50(222#]5;#7"#"#$"-")?#P0(TK#XY3%6.K"=8#8C"""A!= D.)"-&./)5'&*.3(E/"%/"6."+(/a*(3."+%6"I'J.&")'/"F.)-./-%"36.&.)K")'F&%"-'+'"%/"%6"3.)'"

+%"+'`."P%[/."["+'`."Y3%6.!",/"6."'&J./(G.3(E/")%"%/3H%/-&."H/"%):.3('":&':('K"]H%K"

:%)%" ." 6')" 3'/56(3-')" .6" (/-%&('&" +%" 6." 5.*(6(.K" )%" LH%6L%" 6%JW-(*'" %/" %6" *.&3'" +%" 6."

*.-%&/(+.+!"V(/"%*F.&J'K"-.*F(1/"%)"+%)3.6(5(3.+'":'&"6')"%):')')"+%".*F.)"[":'&")H)"

:&':(')"I(b')!""

"2)3!&C$D"!>&S>#:A222#$5,-#%"-#8(-"-#+.'W8.%,-#$5,-#'5,#50#$(8(#,%#"6"0+(0(#+,#%"#8"-"?#-"%.)#'5,)"-?#$5,-#50#$(8(#

&"*6.;0#+,#&,0,)#$)(6%,*"-#"8Y?#(222#V5,-#C"#,)"0#8(-"-#]5,#+,8W"0#]5,#C"#*,#45-&"6"#0(*Y-#-"%.)#

C#]5,#"6"0+(0")"#"#*.-#A.D(-#(#,-(2#l-"#,-#%"#+.'W8.%2#x#%"#'Y8.%#$5,-#C(#+.4(#]5,#-,)W"#,-(#+,222#+,#.)?#

-"6,)#50#+W"#(#),-8"&")%(-?#(222#(#,-(2#

182

D4"s|"]H1"-(:'"+%":&'F6%*.)"+(3%"]H%"IHF'".]HWK"%/")H"3.).t"S>#v5,0(?#$()#,D,*$%(?#85"0+(#0(#,-&"6"#+,#65,0"-#,%#$"$Y#+,#*.#A.D"?#*,#+,8W"#H$5,-#,%%"#-,#%(#

65-8/?#$5,-#I.(-#-"6,#$()#]5;222#GX#$"h#]5;#7"-?#(#7"C"0#"#A"8,)#"%4(#"#5-&,+,-K?#+.8,?#H$()#]5;#-,#

")).,-4"02K#V5,-#"-W?#+,#,-,#&.$(#+,#$)(6%,*"-222#+,#8(-"-#]5,#0(#+,D"6"0#+,#+,8.)2##

D4"s|"]H(1/%)"+%3W./"%)'t"sVH"%):')'t"S>#:.#A.D(#50"-#7,8,-?#,%#,-$(-(#&"*6.;0222#x#-.,*$),#0(#&(+(#,)"#65,0(?#-.0(#]5,#&"*6.;0#,)"#50#

$(8(#+,#$),-./02#XP%[/.K"=8#8C"#

,)" 3(%&-'" ]H%" )%" -&.)J&%+%/" 3(%&-')" %):.3(')" ]H%" -&.+(3('/.6*%/-%" /'" :%&-%/%3W./" ." 6.)"

*Hb%&%)K":%&'" -.*F(1/"%)" 3(%&-'"]H%" -'+'"+%/-&'"+%" 3(%&-')" 6W*(-%)!" ,)"+%3(&K"/'"%)"H/."

-&./)J&%)(E/" -'-.6!" |" %)-'" -(%/%" ]H%" L%&" 6'" ]H%" H/." +%" 6.)" -%/+%/3(.)" 5%*(/()-.)K" 6." ^/'"

*.-%&/.6()-._"Xz.)).J6(."["D.J.&+%"H/.)"+%")H)"&%:&%)%/-./-%)CK"&%).6-."+%"6.":.&-(3(:.3(E/"

:'6W-(3." +%" %)-.)" *.+&%)" [" +%" )H" .:.&(3(E/" %/" 6." %)5%&." :cF6(3.4" ^6.)" 3.&.3-%&W)-(3.)"

.)'3(.+.)"3'/" 6." 5(JH&." -&.+(3('/.6"+%" 6."*.+&%" 93'*'"%6".6-&H()*'"5.*(6(.&"[")%&" k3H%&:'"

:.&."'-&')l" X>C" 9./36./"." 6.)"*Hb%&%)"."H/"%):.3('" )'3(.6" )HF'&+(/.+'"]H%"/'")%"+%).-.K"

.H/"3H./+'"%66.)"-&./)J&%+./"6."+(L()(E/")%2H.6"+%6"%):.3('")'3(.6K"[")%"I.3%":'6W-(3."%/"6."

%)5%&.":cF6(3."."/'*F&%"+%"6."*.-%&/(+.+"X>C_"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@;C!"

#

m.F6./+'"+%"6.)"6.F'&%)"%/"%6"I'J.&"]H%"P%[/."+%F%"3H*:6(&":.&.":'+%&").6(&"+%"3.)."^)(/"

3H6:.)_"[")(/"&%:&'3I%)K"*%/3('/.4"

&

2)3!&C$D"!>&

S>#\(?#-W?#C(222#*,#"$5)(#C#%,-#+,D(222#"C,)#%,-#+,D;#8")0,#+,-A,6)"+"?#t222u8(0#&"%#+,#]5,#0(#+.4"#H&X#

&,#7"-#C#0(#+,D"-#0"+"K#C#"AW#7.,0,0#%(-#$)(6%,*"-2"XP%[/.K"=8#8C""

T6.&'"]H%"%)-'"c6-(*'"-.*F(1/":H%+%" 6%%&)%"3'*'"H/."5'&*."+%"&%)()-%/3(."*a)"L%6.+.!"

P%IH[%"." 6."3'/5&'/-.3(E/"+(&%3-."3'/"'-&.)"%)-&.-%J(.)"*a)")H-(6%)"[":&%:.&."%6" -%&&%/'"

:.&." -%/%&" .&JH*%/-')" [" bH)-(5(3.3('/%)" )H5(3(%/-%)" :.&." 3'/)-&H(&" '-&')" %):.3(')" *a)"

:%&)'/.6%)!"

"

i%)%"."]H%"I.["3').)"["+(/a*(3.)K":')(3('/%)K"6HJ.&%)")HFb%-(L')"["%)-&H3-H&.+')"3H6-H&.6"["

)'3(.6*%/-%K" ]H%" /'" )%" +%).-.&a/" +%6" -'+'K" 6'" " L.6(')'" [" ]H%" 3.F%" +%)-.3.&" %)" 6'" ]H%"

*%/3('/."0.(%&4"

183

8(07,)&.+"-#,0#-5D,&(-#+,%#,-8,0").(#$(%W&.8(#,0#%(-#.0&,)-&.8.(-#+,#%"#&,0-./0#,0&),#%(#&)"+.8.(0"%#C#%(#

&)"0-4),-()?# %"-# ),$),-,0&"0&,-# +,# ,-&"#*"&,)0.+"+#*.%.&"0&,# [8(*(# %"# 0(*6)/# S5++,8N# BFiiZ3[#

,<$,).*,0&")(0# $)(8,-(-# .*$()&"0&,-# +,# &)"0-'()*"8./0# $,)-(0"%?# 8(0-8.,0&.="8./0# C#

,*$(+,)"*.,0&(#8(*(#*5D,),-2#L(*(#"'.)*/#%"#$),-.+,0&"#+,%#L(*.&;#+,#:"+),-#+,# %"#V%"="#+,#

:"C(>#hV")"#*W?#%"-#:"+),-#-(*(-#*5D,),-#]5,#A"0#)(&(#8(0#*58A(-#"-$,8&(-#+,%#-.-&,*"#,0#]5,#

7.7.*(-2#V).*,)(?#0(-#'5.*(-#"# %"#8"%%,#$")"#8(0')(0&")#"# %"#+.8&"+5)"?#$()]5,#'5.*(-#8"$"8,-#+,#

A"8,)#8(-"-#]5,#%(-#A(*6),-#0(#A.8.,)(02"X0.(%&K"%/"D%F'/"["0.(%&K"=8874"@;C""

184

"['h 9:;0$<!=&>&g"&5;G!0&,$&0$%+%#$"(+!%&D&";$*!%&%;Ob$#+*+,!,$%&

&['h'. [&]+%#)0+!%&,$&0$%+%#$"(+!%&"|."./-%&('&*%/-%")%"I.FW."*%/3('/.+'"]H%"6."5.*(6(."%)"H/"36.&'"3.*:'"+'/+%K")(/"+H+.K"

)%"+./"&%6.3('/%)"+%":'+%&!"^V("%6"%b%&3(3('"+%":'+%&")%"%/-(%/+%"3'*'"%6"%)-.F6%3(*(%/-'"

+%" &%6.3('/%)" .)(*1-&(3.)" X!!!C?#%)" 36.&'"]H%" 6." 5.*(6(." %)"H/"%):.3('"%/"%6" ]H%" )%" bH%J./"

&%6.3('/%)"+%":'+%&!_"XT.6L%(&'K"=88A4"@#C",)"(*:'&-./-%"(/)()-(&"%/"%)-."(+%."+%6":'+%&"/'"

3'*'".6J'"]H%")%":')%%K")(/'"3'*'"3'*'"H/"3'/3%:-'"&%6.3('/.6"%/"3'/)-./-%"+():H-.":'&"

.3-'&%)"*EL(6%)K" ]H%" )%" &%6.3('/." 3'/" 6." (+%." +%" I%J%*'/W." +%"Z&.*)3(4" ^:.&."Y/-'/('"

Z&.*)3(" %6" :'+%&" %)" )(%*:&%K" %" (/)%:.&.F6%*%/-%K" 3'%&3(E/"*a)" 3'/)%/)'" Ñ!!!Ö" 3'/66%L."

3(%&-')"/(L%6%)"+%".3%:-.3(E/"["6%J(-(*.3(E/":'&":.&-%"+%"]H(%/"&%)H6-.")'*%-(+'"."16!"Ñ!!!Ö"

6."I%J%*'/W."%)-a")(%*:&%"%/"+():H-.K"%/"H/"%)3%/.&('"]H%"/'"&%3'/'3%"%):.3(')"J./.+')"

'":%&+(+')"+%5(/(-(L.*%/-%!",)-%":&%)H:H%)-'"/')"&%*(-%".".3-'&%)"*EL(6%)"["%/":HJ/.!_#

XT.6L%(&'K"=88A4"#?C"

"

iH%+%"+%3(&)%K"-.*F(1/K"]H%"+'/+%"I.[":'+%&K"I.["&%)()-%/3(.!"|"/'")(%*:&%")%"-&.-."+%"

&%)()-%/3(.)" 36.&.)" [" 3'/5&'/-.-(L.)d" %2()-%/" 1)-.)K" :%&'" -.*F(1/" *H3I.)" L%3%)" '-&.)"

*%/')" L()(F6%)K"*a)"F(%/" L%6.+.)" [" :.).+.)":'&" .6-'!" |" %)" %)-." :.&-%K" 6." +%" 6.)" +()-(/-.)"

&%)()-%/3(.)K" 6." ]H%" (/-%&%)." ./.6(G.&" %/" 6." I()-'&(." +%" L(+." +%" %)-.)" -&%)"*Hb%&%)!" T'*'"

+(3%"T.6L%(&'K""

""50#,0#%"-#-.&5"8.(0,-#,<&),*"-#,0#]5,#%(-#-5D,&(-#-(8."%,-#,-&Y0#-(*,&.+(-#"#$(+,),-#&(&"%,-?#-(0#

8"$"8,-#+,#+,-"))(%%")#+.-&.0&"-#,-&)"&,4."-?#*Y-#(#*,0(-#")&.85%"+"-?#$")"#($(0,)-,#"%#$(+,)?#"-W#

8(*(# +,# "%8"0=")# 8(0# ,%%"-# 50# ;<.&(# 8(0-.+,)"6%,2# 9-# +,8.)?# %(4)"0# -5-&)",)-,# ),%"&.7"*,0&,?#

&)"0-4),+.)# +,# +.-&.0&"-# *"0,)"-# C# h$,)7,)&.)h# ,%# ()+,0# "%# ]5,# ,-&Y0# -5D,&(-2# !(# A"8,0# +,# '()*"#

-56&,))Y0,"#C?#$()# %(#*.-*(?#$(8(#7.-.6%,?#+,#*"0,)"#]5,# %(#]5,#$"),8,0#8(0+58&"-#+,#-5*.-./0#

,0*"-8")"0?#,0#*58A(-#8"-(-?#$)Y8&.8"-#),-.-&,0&,-2#XT.6L%(&'K"=88A4"#8C""i.&."%)-.".H-'&.K"%/"6.)"5.*(6(.)")%"+."6.""^3'/5'&*.3(E/"+%"3.+%/.)"'"&%+%)"]H%".&-(3H6./"

." 6')" +()-(/-')" *(%*F&')" X!!!CK" %/" :')(3('/%)" .)(*1-&(3.)K" *EL(6%)K" (/%)-.F6%)K" ]H%" )%"

*'+(5(3./K" )%Jc/" 6.)" +(5%&%/-%)" 3(&3H/)-./3(.)" [" *'*%/-')" +%" 6." &%6.3(E/" 5.*(6(.&!" V%"

185

3'/5'&*./" .)W" L%&+.+%&.)" .6(./G.)K" 6(J.)" [" &H:-H&.)" 3H['" 'Fb%-(L'" %)" %236H(&K" +%)L(.&" '"

:'-%/3(.&"6')":'+%&%)"+%"H/')"%/"&%6.3(E/"."'-&')!_"XT.6L%(&'K"=88A4"==?C"

"

sTE*'" )%" &%6.3('/." %)-'" c6-(*'" 3'/" %6" :&%)%/-%" -&.F.b't"R%" %)-.)" @"*Hb%&%)" &%).6-." )H"

.:.&(3(E/" %/" 6." L(+." :cF6(3." [" :'6W-(3.!" ,)" +%3(&K" /'" I.[" .]HW" -./-.)"*a)3.&.)" +%" I.F%&"

-&.)J&%+(+'"[")HFL%&-(+'"%6"'&+%/".6"]H%"%)-.F./")Hb%-.)!"D."+%).:.&(3(E/"+%")H)"5.*(6(.&%)"

5H/3('/.K"%/"%)-')"3.)')"X["%/"'-&')C"3'*'"+%-'/.+'&"+%"%)-.")HFL%&)(E/d".6"*%/')"%/"%6"

3.)'" +%" P%[/." [" Y3%6." X%/" %6" 3.)'" +%"Y(3%6." %2()-W." H/." I()-'&(." :&%L(." +%" :.&-(3(:.3(E/"

:'6(-(3.C!"V(/"%*F.&J'K".)W"3'*'"i(6.&"T.6L%(&'"I.F6."+%"3'/L(L%/3(."3'/)-./-%"+%"+()-(/-.)"

5'&*.)"+%":'+%&"["&%)()-%/3(."%/"6')"*()*')")Hb%-')"X.3-'&%)"*EL(6%)C"9+%:%/+(%/+'"+%"6.)"

&%6.3('/%)K"6')"%):.3(')K"6.)"3(&3H/)-./3(.)9K":H%+%/"+%3(&)%"+')"3').)4"6.":&(*%&.K"]H%"%/"

%)-.)" 5'&*.)" +%" ^%*:'+%&.*(%/-'_" X&%)()-%/3(.C" %L(+%/-%)K" %/" %)-')" /H%L')" %):.3(')"

%/3'/-&.+')" ." 6')" 3H.6%)" )%" +%3(+(E" :%&-%/%3%&" [" ]H%" (*:6(3./" [." %/" )W" *()*')" H/."

3'/5&'/-.3(E/" 36.&." [" H/"*'L(*(%/-'" )HFb%-(L'" (*:'&-./-%K" :H%+%/" (/5(6-&.&)%" [" 3'/L(L(&"

-.*F(1/" '-&.)" 5'&*.)" +%" )H*()(E/" X)%" J./." %/" H/')" %):.3(')K" )%" :(%&+%" %/" '-&')Cd" [" 6."

)%JH/+.K" ]H%" %6" I%3I'" +%" 6." 3'/5&'/-.3(E/" 36.&." ]H%" )%" +." 3'/" %6" /H%L'" %):.3('" +%"

*(6(-./3(." :'6W-(3." /'" -(%/%" :'&" ]H1" 6%%&)%" 3'*'" H/" .3-'" .()6.+'K" (/+%:%/+(%/-%K"

*'/'6W-(3'"]H%")H&J%"+%"H/."/.+.!"m.F6."-.*F(1/"+%"H/."%)-&H3-H&.":&%L(.K"H/"&%:%&-'&('"

:&%L('"+%"%)-&.-%J(.)"+%" &%)()-%/3(."]H%" -.6"L%G"/'"%)-.F./" -./"^." 6."L()-._K":%&'"/'":'&"

%66'"+%b.F./"+%"%)-.&":&%)%/-%)!",)-'")%".)'3(."3'/"6'"]H%"[."./-%)"I.FW.*')"*%/3('/.+'4"

3'/" 6')" &%:%&-'&(')" ^"# %"#*"0(_K" 3'/" ^%6" %)3%/.&('" [" 6'" ]H%" :'/%" 6W*(-%)" ." Ñ6.Ö" .33(E/_"

XV3I~-G" [" z%&J%&K" =88@4" =?C!" V%" %b%*:6(5(3.&a" %)-'" [" )%" +%).&&'66.&a/" %)-.)" (+%.)" %/" %6"

:&%)%/-%" .:.&-.+'K" -'*./+'" 3'*'" 6')" 3'/3%:-')" +%" ./a6()()" 6')" %*:6%.+')" :'&" i(6.&"

T.6L%(&'" %/" )H" (/L%)-(J.3(E/" )'F&%" 6.)" &%6.3('/%)" +%" :'+%&" [" &%)()-%/3(." %/" " 5.*(6(.)"

*%2(3./.)"XU"*.%."#C#V(+,)C!"�)-')")%&a/"+%5(/(+')"."3'/-(/H.3(E/!"

#

PQ5;#,-#),-.-&,08."T#

"

i.&." T.6L%(&'" /'" %2()-%" 50"# &%)()-%/3(.K" '" 50"# 5'&*." +%" &%)()-(&!" R%)+%" )H" 'b'" ./.6W-(3'"

.63./GE" ." +()-(/JH(&" .6" *%/')" @" *'+.6(+.+%)" +%" 6." &%)()-%/3(.K" ]H%" ^)%" 3'*F(/./" ["

186

.&-(3H6./" +%"*./%&.)" +(5%&%/-%)" [" 3.*F(./-%)K" 6'J&./+'" &%)-&(/J(&" %6" :'+%&" (/)-(-H(+'" ["

.F&(%/+'"/H%L')"["*a)".*:6(')"%):.3(')":.&."6')"+1F(6%)"["6')"%236H(+')_"XT.6L%(&'K"=88A4"

##C4" 6." 8(0')(0&"8./0K" 6." ),-.-&,08."" [" 6." '54"!" V%" I.F6.&a" +%" 6.)" :&(*%&.)" +')" :&(*%&.)K"

.)'3(a/+'6.)"3'/"6')"3.)')"%/"3H%)-(E/!"

"

,)-.)" -&%)" 5'&*.)"/'" )'/"*H-H.*%/-%"%236H[%/-%)K" )(/'"]H%"3'/L(L%/"%/" 6')".3-'&%)"+%"

5'&*.)"3'*:6%b.)!"

#

F3#!"#8(0')(0&"8./0>#^Q:%&."3'*'"+%).5W'K"3'*'"6H3I.".F(%&-."["-(%/+%"."6."'3H:.3(E/"+%"

%):.3(')"[":&a3-(3.)"L%+.+')"'"%/"6')"]H%"%2()-%"+%)(JH.6+.+"+%":.&-(3(:.3(E/_!"XT.6L%(&'K"

=88A4" #8C" T'/" 1)-." T.6L%(&'" )%" &%5(%&%" ." .]H%66." ':')(3(E/" 5&'/-.6" [" .F(%&-." .6" 6HJ.&" +%"

:'+%&!" 0H3I.)" L%3%)" 6." 3'/5&'/-.3(E/" %)" .)(*(6.+." ." 6." &%)()-%/3(." *()*." [" -.*F(1/"

5&%3H%/-%*%/-%" 3'/)(+%&.+." 3'*'" )H" ^5'&*." )H:%&('&_K" (+%." ]H%" 6." .H-'&." &%3I.G.K" [."

]H%"^)("F(%/"%)-." 6H3I."-(%/%"H/."J&./" (*:'&-./3(.K" -.*F(1/"%)"/%3%).&('")%`.6.&"]H%" 6."

3'/5&'/-.3(E/" :H%+%" -%/%&" %5%3-')" :%&L%&)')K" 3'*'" &%:&'+H3(&" %" (/36H)'" :'-%/3(.&" 6.)"

&%6.3('/%)" +%" :'+%&" :&%%2()-%/-%)K" %/" H/')" 3.)')K" '" F(%/" :%&*(-(&" 6." .+.:-.3(E/"

(/3'&:'&./+'":&'3%+(*(%/-')"/H%L')":%&'"/'"*a)"%]H(-.-(L')!_"XT.6L%(&'K"=88A4"=#C"

S/"%b%*:6'" 36.&'" %)" %6" 3.)'"+%" 6.)" &%6.3('/%)" %/-&%" I'*F&%)" ["*Hb%&%)K" 6." 6H3I."

.F(%&-." :'&" 3'/-&'6.&" [" '3H:.&" ^a*F(-')" :cF6(3')K" I()-E&(3.*%/-%" *.)3H6(/')K" 3'*'" %6"

6.F'&.695'&*.6K" %6" :'6W-(3'K" %6" 3(%/-W5(3'!_" XT.6L%(&'K" =88A4" =#C" O'" :H%+%" L%&)%" *a)"

-&./):.&%/-%"["*%b'&"%b%*:6(5(3.+." 6." 3'/5&'/-.3(E/"%/"%)-')"3.)')4"%/" 6."H-(6(G.3(E/"+%6"

%):.3('" :'6W-(3'" [" 6.)" 3.66%)K" '3H:./+'" %)-.)" *Hb%&%)" %):.3(')" :cF6(3')K" .3H+(%/+'" ."

*.&3I.)K" *W-(/%)K" IH%6J.)" +%" I.*F&%K" &%3'&&(%/+'" %6" :.W)" %/-%&'" %/" &%36H)'&(')" ["

I'):(-.6%)K" +./+'" -%)-(*'/(')K" :6./-a/+')%" ./-%" 6.)" .H-'&(+.+%)" X%/-&%" %66.)" %6"

:&%)(+%/-%C"["%2(J(%/+'K".I'&.K"3.+.":&(*%&")aF.+'"+%"*%)K"5&%/-%"."6."VH:&%*."T'&-%"+%"

nH)-(3(."+%"6."O.3(E/K"6.":&%)%/-.3(E/"3'/"L(+."+%")H)"5.*(6(.&%)"["%6"3.)-(J'"."6')"3H6:.F6%)K"

3'/-%2-'K" /'" I.[!" ,)-'" (*:6(3.K" .+%*a)" +%" H/." 3'/5&'/-.3(E/" ./-%" -'+." H/." %)-&H3-H&."

&%:&%)'&.K" -.*F(1/" H/." 5H%&-%" 3'/5&'/-.3(E/" [" *H3I.)" -%/)('/%)" %/" %6" I'J.&!" ,/" %)-%"

.):%3-'"%)"]H%":H%+%"L%&)%"36.&'"%6":.:%6"+%":'+%&"'3H:."6."*.-%&/(+.+4"H/."*Hb%&")'6.K"

187

3.*(/./+'" :'&" %)')" 6HJ.&%)K" L(.b./+'" )'6.K" %/-&./+'" ." &%36H)'&(')K" /'" 3H.+&." %/" %6"

%)]H%*." 3H6-H&.6*%/-%" %)-.F6%3(+'!" V(/" %*F.&J'K" H/." *.+&%" FH)3./+'" ." )H" I(b.K" 6'"

6%J(-(*."-'+'!""

"

E3#!"#),-.-&,08.">#^Q3H&&%"+%)+%"6.":')(3(E/")HF'&+(/.+."Ñ!!!Ö")'F&%"-'+'"+%)+%"6')"%):.3(')"

.)(J/.+')" 3'*'" 6HJ.&%)" +%" 3'/-&'6" 96." 5.*(6(." :.&." 6."*Hb%&K" :'&" %b%*:6'9" I.3(%/+'" +%"

%66')"a*F(-')"&%)()-%/-%)"3'/"&%):%3-'".6":'+%&"+%6"'-&'!"Q:%&."%/":&'3%)')"+%"6.&J'":6.G'"

[")H%6%"'3H&&(&"%/"6.)"%)5%&.)"+%"6'"3'-(+(./'"["%/"6')"%):.3(')")'3(.6%)"[":&(L.+')!"N*:6(3."

+()-(/-.)" :&a3-(3.)K" (/36H)'" )(*FE6(3.)" Ñ!!!ÖK" .*:6(./+'" 6." 3.:.3(+.+" +%" *'L(*(%/-'" +%"

]H(%/" '3H:." 6." :')(3(E/" )HF'&+(/.+._!" XT.6L%(&'K" =88A4" =#C" V'/" 3H.-&'" 6')" &%3H&)')"

:&(L(6%J(.+')" +%" 6." &%)()-%/3(.4" ,%# &.,*$(K" ,%# ,-$"8.(?# %"# *,*()."# [" ,%# -.%,08.(!" iH%+%/"

3'/5H/+(&)%" 3'/" 6." )H*()(E/" :'&" )%&" %)-&.-%J(.)" H-(6(G.+.)" ./-%" 6." (*:')(F(6(+.+" +%" 6."

3'/5&'/-.3(E/!",/"%6"I%3I'"+%")%&"+(5W3(6*%/-%"+%-%3-.F6%)"&.+(3.")H":'+%&"[")H"3.:.3(+.+"

+%")H:%&L(L%/3(.!"

P%):%3-'".6"#+$7W)K"T.6L%(&'"*%/3('/."]H%"6.":%&3%:3(E/"+%"1)-%"+(5(%&%")%Jc/"6."

:')(3(E/" +%" :'+%&" ]H%" )%" '3H:%" X+%" +'*(/('" '" )HF'&+(/.3(E/C!" R%)+%" 6." :')(3(E/" +%"

L%/-.b.K" %6" :&%)%/-%" %)" %6" ]H%" :&%+'*(/.K" ]H%+./+'" %6" :.).+'" [" %6" 5H-H&'" %/" :6./')"

)%3H/+.&(')!"P%):%3-'"."6.)":')(3('/%)"+%")HF'&+(/.3(E/K"6.".H-'&."I.F6."+%"^6."%):%&./G."

+%"6."%):%&._K"]H%")%"-&.-."/'"-./-'"+%"H/."%2:%3-.-(L."'"H/":&'[%3-'"36.&')"["+%6(*(-.+')K"

)(/'"^+%"6."%):%&."+(5H)."+%"H/"5H-H&'"+()-(/-'"Ñ,0#+(0+,Ö")HF[.3%"6."3%&-%G."+%6"+%)J.)-%"

6%/-'" :%&'" (/%2'&.F6%" +%" ]H(%/" '3H:." 6." :')(3(E/" +%" :'+%&" Ñ!!!Ö" ÑCÖ" 6." %):%&." ]H%" )H%6%"

.:.&%3%&"3'*'":.)(L(+.+"Ñ!!!Ö")%":'+&W."3'/)(+%&.&"3'*'"H/."+%"6.)"%)-&.-%J(.)"+%"]H(%/%)"

'3H:./"6.)":')(3('/%)"+%"+%F(6(+.+!_"XT.6L%(&'K"=88A4"=@BC!"

,/" %)-')" 3.)')" I.[" H/." 36.&." %2:%3-.-(L." .6" 5H-H&'" [" H/." 3'/)-./-%" %):%&.!" ,6"

:.).+'"["%6"5H-H&'")'/"%/"&%.6(+.+"6'"]H%"(*:'&-.!"V%"L(L%"+%"%)-')"+')"-(%*:')K"/'"%/"%6"

:&%)%/-%!"YH/]H%"36.&'K"1)-')")%"3H%/-./"[")%"3'/)-&H[%/"+%)+%"%6":&%)%/-%!"|"3&%'"]H%"%)"

.6J'" ]H%" :H%+%" +%3(&)%" 3'/" 6." )(-H.3(E/" +%" 6." +%).:.&(3(E/" %/" J%/%&.6!" N/-%&L(%/%" '-&."

3H%)-(E/K"]H%"%)K"%/"%6"3.)'"+%"6.)"+')"*.+&%)K")H"%+.+!"i(%/)'"]H%":'&"%)-'")%"%*:(%G."."

L%&"*a)" I.3(." %6" :.).+'" ]H%" I.3(." %6" 5H-H&'" ["*H3I." +%" 6." /.&&.-(L." L." %/3.*(/.+." .6"

188

&%3H%&+'"["6."&%(L(/+(3.3(E/"+%")H)"I()-'&(.)"+%"6H3I.d"["."H/."%L.6H.3(E/"+%"6'"]H%")%"I."

I%3I'" [" +%b.+'" +%" I.3%&" X-.*F(1/" %)" :'&]H%" 6." )(-H.3(E/" +%6" T'*(-1" )%" :%&3(F%" 3'*'"

3&W-(3."["%/"+%36(L%C!"

D'"]H%".]HW"&%).6-."%)"]H%"%/"%)-.)"*Hb%&%)"/'")%"-&.-."+%"H/."%):%&.":.)(L.d"/'"

%):%&./" )%/-.+.)!" Y3-c./" %/" 3'/)%3H%/3(." +%" %)-." %):%&./G.K" +%" %)-." %):%&.!"

i&%3().*%/-%"6."%):%&."%)"6'"+%)J.)-./-%"[")%")H)-(-H[%"3'/"6.".33(E/K":.&-(3(:.3(E/K"3'/"%6"

3.*(/.&K"3'/"%6"3'*:.&-(&!"|"6."%):%&./G."%)"6'"]H%"6%"+.")%/-(+'".")H":&%)%/-%"["bH)-(5(3."["

6%J(-(*."3.)("-'+.")H"L(+.":.).+.!"

"

,)-'"c6-(*'"-.*F(1/")%"&%6.3('/."3'/"6."7$7)0+!4"^%(-#&,-&.*(0.(-#-,J"%"0#50"#7,)+"+,)"#

+.-$5&"# $()# %"# *,*()."# h('.8."%h?# $()# ,%# ),%"&(# 7,)+"+,)(# ,0# ,%# -,0(# +,# %"# '"*.%."2# !(-#

"8(0&,8.*.,0&(-#"# %(-#]5,#-,#"%5+,#0(#-(0# h8(-"-#+,%#$"-"+(h#-.0(#-58,-(-#]5,#),8%"*"0#

50"#&(*"#+,#$")&.+(#-(6),#&(+(#+,-+,#%(-#8(0'%.8&(-#+,%#$),-,0&,2K#BL"%7,.)(?#Effo>#EZm3##

Y]HW"%)-a"6."36.L%"+%"6."&%)()-%/3(."%/"%)-.)"*Hb%&%)4"%6"/'"'6L(+.&K"]H%"6H%J'")%"3'/L(%&-%"

%/":.&-%"+%6"+()3H&)'":'6W-(3'K"]H%")%"+%:')(-."%/"6'"5'&*.6"["6H%J'")%"LH%6L%".".:&':(.&d"

3.F%"&%).6-.&"6."(/)()-%/3(."+%"6')"+%*a)"*(%*F&')"+%"6."5.*(6(.K"%6&^[."+1b.6'"(&_K"%-3!K"["%6"

5&.3.)'"+%"%)-."(/)()-%/3(.!"

m.F6./+'"+%")H)"I(b')K"Y3%6."*%/3('/.4"

#R># :.-# A.D(-# 0508"# 8(*,0&"6"0# 0"+"2# \508"# $),450&"6"0# 0"+"2# x# C"# %"-# *Y-# 4)"0+,-# +,8W"0#

H*"*Y?#$5,-#C"#+;D"%"222#]5;#%,#65-8"-222K2#V,)(#0(2#@"-&"#]5,#I.(-#+.4"#(#C(#-,$"#+/0+,#,-&Y?#7(C#

"# +,D")# +,# -,45.)%"# 65-8"0+(2# t1u# \(?# $5,-# ,%%(-# 0(# -,# *,&W"02# V()]5,# -W# %,-# +"6"# 50"-#

8(0&,-&"8.(0,-#',"-2#\(#]5,)W"0#65-8")#*Y-2#V()#,-(#*,#+,8W"0#H*"*Y?#C"#0(#%"#65-]5,-2#R#]5;#&,#

,<$(0,-222#GX#"0+"-#-(%"?#&,#7"C"#"#$"-")#"%4(2#I,-$5;-#C"#0(#7"#"#-,)#50"?#7"0#"#-,)#+(-2K#x#"-W2#

V,)(#0(?#50(#0(#$5,+,222#0(#$5,+,#A"8,)-,#"# %"# .+,"#+,222t1u# #90&(08,-#+,-+,#-.,*$),#"0+(#-(%"2#

b.,*$),2#bW#-,#*(%,-&"0#"A()"#,%%(-?#$()]5,#HC"#]5;#"0+"-#$()#"%%YK?#]5,#"#]5;#7(C2#V,)(#$5,-#C"#

,0#),"%.+"+#-,#A"#]5,+"+(#&(+(#*5C#"%#(%7.+(?#P0(T#RA().&"#,-&Y#),0"8.,0+(#8(0#@2j2a2q2b2#9-#8(*(#

,-&Y#),0"8.,0+(#&(+(#,-&(2#XY3%6.K"=8#8C##"Y(3%6.K" &%):%3-'" ." 6." (*:'&-./3(." +%" /'" '6L(+.&" +%" )%JH(&" &%)()-(%/+'" [" ." 6." %):%&./G.K"*%/3('/.4"&A+($5!&R># x# ]5.=Y-# "6).4"# &"*6.;0#50"#,-$,)"0="2# x# ,-"# ,-$,)"0="# 8(*6.0"+"# 8(0# %"# $")&,#+,# %"# %58A"#

-(8."%2#q#-,"?#0(#,-#+,#]5,#7,04(#C#*,#,-$,)(#"#7,)#"#]5;#A()"#"$"),8,222#\.#&"*$(8(#,0#%"#.+,"#+,#

189

]5,# 50# +W"# 7"0# "# %%,4")# C# +,8.)0(-# H"]5W# ,-&Y0# &(+(-K?# -.0(# 50# $(8(# 8(*(# +,# ),-.-&,08."?# 8(*(#

+,0508."?#8(*(#"')(0&")#50"#$(%W&.8"#,]5.7(8"+"!&&D." *,*()."# %)" H/'" +%" 6')" &%3H&)')" +%" 6." &%)()-%/3(." ]H%" :(%/)'" ]H%" -(%/%" H/" :%)'"

5H/+.*%/-.6"["3&H3(.6"%/"%)-.)"I()-'&(.)!"T.6L%(&'"I.3%"H/."+()-(/3(E/"X3'/"F.)%"%/"6'"]H%"

%/3'/-&E" %/" )H" -&.F.b'" +%" (/L%)-(J.3(E/C" %/-&%" 6." *%*'&(." +%" 6')" I'*F&%)" [" 6." +%" 6.)"

*Hb%&%)4" 6." ]H%" &%3H:%&./" 6')" I'*F&%)" .6H+%" ."*'*%/-')" +%" J&./+%G.K" :'&" 6'" J%/%&.6"

&%6.3('/.+')"3'/"+')"+(*%/)('/%)4"%6"12(-'" 6.F'&.6"[".]H16"3'/"6.)"*Hb%&%)!"D.)"*Hb%&%)K"

:'&" '-&'" 6.+'K" )%Jc/" D%[+%)+'&55K" i.))%&(/(" [" $I'*:)'/K" ^&%3H%&+./" %/" %6" *.&3'" +%"

&%6.3('/%)"5.*(6(.&%)K":'&]H%"%6""-(%*:'")HFb%-(L'"X>C"%)-a"'&J./(G.+'"["6(J.+'"."6')"I%3I')"

&%:&'+H3-(L')"["."6')"LW/3H6')".5%3-(L')!"X>C",/"%6"3.)'"+%"6.)"*%*'&(.)"+%"6."&%:&%)(E/K"X>C"

*H3I.)"X>C"/.&&./")H)"&%3H%&+')"%/"6."36.L%"*a)"-&.+(3('/.6"+%6"&'6"+%"*Hb%&K"6."+%"kL(L(&"

:.&." 6')" '-&')l!" Xn%6(/K" =88#4" #8;C" VH" *%*'&(." ^)%" 5(b." %/" 6')" *'*%/-')" +%" 3'/]H()-."

6.F'&(')." +%" 3(%&-." .H-'/'*W." %3'/E*(3." ." -&.L1)" +%6" -&.F.b'" [" +%6" 3&%3(*(%/-'" +%" 6')"

I(b')K":%&'")%"+%-(%/%":.&.")%`.6.&"*(/H3(').*%/-%"6.)"'5%/).)"["6')".FH)')"."6')"]H%"I."

)(+'")'*%-(+.!",)"H/."*%*'&(.":%&)()-%/-%K"]H%"+%3(+(E"/'"'6L(+.&"[")%"36.L."%/"%6")H3%)'"

:H/-H.6!_" T.6L%(&'" 66.*." ." %)-." *%*'&(." 5%*%/(/." ^H/" 3H%/-'" %*'3('/./-%K" 66%/'" +%"

:%]H%`.)"./13+'-.)K"]H%")%"'&J./(G."3'/"&%-.G')"+%"6'"3'-(+(./'"[")%"&%:(-%"+%"+()-(/-.)"

*./%&.)!_" XT.6L%(&'K" =88A4" =@7C" ,)" H/" )%3&%-'" ." L'3%)K" H/." *%*'&(." ]H%" :&%-%/+%"

&%(L(/+(3.&" )H"I()-'&(.K" &%(L(/+(3.&)%" 3'*'" )Hb%-')" .3-(L')" ["+.&)%"H/" 6HJ.&"%/" 6."I()-'&(."

]H%"6.")'3(%+.+"6%)"/(%J.4"

"

9-&"#*,*()."#',*,0.0"#8.)85%"#t222u#8(*(#+.-85)-(#(85%&(?#+.8A(#"#,-8(0+.+"-#t222u2#90#,-&,#-,0&.+(?#

%(-#&,-&.*(0.(-#-,J"%"0#50"#7,)+"+,)"#+.-$5&"#$()#%"#*,*()."#h('.8."%h?#$()#,%#),%"&(#7,)+"+,)(#,0#

,%#-,0(#+,#%"#'"*.%."2#!(-#"8(0&,8.*.,0&(-#"#%(-#]5,#-,#"%5+,#0(#-(0#h8(-"-#+,%#$"-"+(h#-.0(#-58,-(-#

]5,# ),8%"*"0# 50"# &(*"# +,# $")&.+(# -(6),# &(+(# +,-+,# %(-# 8(0'%.8&(-# +,%# $),-,0&,2# t222u# &"0&(# %"#

*,*()."#]5,#"8&5"%.="#,%#$"-"+(#+,-+,#,%#$),-,0&,#C#"50#+,-+,#,%# '5&5)(#t222u#8(*(# %"#"$5,-&"#"#

%")4(# $%"=(# []5,# ,-$,)"# ,%# '5&5)(# +,-+,# 50# $),-,0&,# ()4"0.="+(# 8(*(# *,*()."# 7.7"?# ,0#

),8(0-&)588./0# C# ,0# &)"0-*.-./0[# .0+.8"0# 50"# ),%"8./0# ),-.-&,0&,# 8(0# %"-# &),-# +.*,0-.(0,-# +,%#

&.,*$(2"XT.6L%(&'K"=88A4"=@7C""

P%)H6-.&W."+(5W3(6":6.)*.&"["%b%*:6(5(3.&"-'+'"%6"3H&)'"+%"6."/.&&.-(L."+%"%)-.)"*Hb%&%)K":%&'"

/'":'&"%66'" )%"+%b.&a"+%".:H/-.&"]H%"%)"H/" &%6.-'"*H[" &(3'"%/"+%-.66%)" X.6" I.F6.&"+%" )H"

(/5./3(.CK"["*H["%/5a-(3'"-./-'"%/"6')"*'*%/-')"+%"'5%/).)"[".FH)')K"3'*'K")'F&%"-'+'K"

190

%/" 6')" &%6.-')" &%6.3('/.+')".")H)" 5.*(6(.&%)"[".6"%L%/-'"+%")H"+%).:.&(3(E/4"%)K" )(/"+H+.K"

^H/." *%*'&(." :%&)()-%/-%K" ]H%" +%3(+(E" /'" '6L(+.&" [" )%" 36.L." %/" %6" )H3%)'" :H/-H.6!_"

XT.6L%(&'K" =88A4" =@7C" V%" -&.-.K" )(/" +H+." .6JH/.K" 93'*'" -.*F(1/" )%`.6." T.6L%(&'9" +%" H/."

*%*'&(."]H%")%`.6.K"]H%".3H)."["3'/+%/."%6"'6L(+'"X*H3I.)"L%3%)"+%"6')"I'*F&%)d")'F&%"

-'+'"+%"6')"*.&(+')"["6')"I(b')"+%"P%[/."["Y3%6.C!"

"

,6" -%&3%&"&%3H&)'"+%"&%)()-%/3(."%)"%6"$%W!(+)!",)"1)-%"H/'"+%" 6')")W*F'6')"+%"3'/-&'6K"+%"

:'+%&!"V(")%"-(%/%"%6"3'/-&'6"+%"H/"%):.3('K")%"-(%/%"%6":'+%&"["%6"3'/-&'6"+%"]H(%/"%)-1"%/"

16!",6"3'/5(/.*(%/-'"%)"H/."+%"6.)"5'&*.)"+%")'*%-(*(%/-'"+%6"]H%"[."I.F6aF.*')"%/"6')"

.:.&-.+')"&%6.3('/.+')"3'/"%6"%):.3('"+'*1)-(3'"["6."3'%&3(E/"XT.:W-H6'"=K"S,%"8.(0,-#+,#

$(+,)#,0#%"#'"*.%."C!",/-'/3%)")%"*%/3('/E"6."5(b.3(E/"+%"6.)"*Hb%&%)".6"%):.3('"+'*1)-(3'K"

[." )%." :'&" *%+('" +%6" 3'/5(/.*(%/-'K" '" F(%/" :'&" )%&" 1)-%" .)(J/.+'" )'3(.6*%/-%"

X-&.+(3('/.6*%/-%C" 3'*'" -%&&(-'&('" :&':('" +%" 6." *Hb%&!" Y" 6." L%G" ]H%" :H%+%" %/-%/+%&)%""

%)-." .)(J/.3(E/" 'F6(J.+." X*./+.-'C" 3'*'" H/." %):%3(%" +%" ^3'/5(/.*(%/-'" )'3(.6" X'"

6(-%&.6C_K"-.*F(1/"%)-a"6."3'/-&.:.&-%4":&%3().*%/-%"%6".:&':(.&)%"+%"H/"%):.3('"%)"[."%/")W"

*()*'" H/." :&a3-(3." +%" &%)()-%/3(.!" ,/" :.6.F&.)" +%" i(6.&" T.6L%(&'K" ^-'+'" :&(/3(:('" +%"

.H-'&(+.+"(/-%/-."6."&%)-&(33(E/"+%6"*'L(*(%/-'"["6."5(b.3(E/"."%):.3(')"+%6(*(-.+')K"3'*'"

5'&*." +%" 3'/-&'6K" *(%/-&.)" ]H%" 6.)" :&a3-(3.)" &%)()-%/-%)" )%" F.)./" %/" 6." %6H)(E/" ." -.6%)"

3'/-&'6%)".":.&-(&"+%" 6."%)-&H3-H&.3(E/"+%"%):.3(')":&':(')".6%b.+')"+%" 6."L(J(6./3(."["+%6"

(/3&%*%/-'"+%6"a&%."+%"+%):6.G.*(%/-')K"]H%":%&*(-%/"&%5'&G.&"6.".H-'/'*W._!""

,/"%6"3.)'"3'/3&%-'"+%"6.)"5.*(6(.)"-&.+(3('/.6%)K"%/"+'/+%"%6"I'*F&%"%)"%6"]H%").6%"

."-&.F.b.&"["%)-a":'3'"%/"%6"I'J.&K"["+'/+%")%"%):%&."]H%"6."*Hb%&"X*.+&%):').C"3H(+%"+%"

1)-%" %):.3('" [" ).6J." 6'" *%/')" :')(F6%" +%" 16K" )H3%+%" ]H%" 1)-." )%" L." .+H%`./+'"

:.H6.-(/.*%/-%" +%" %)-%" %):.3('" [K" ." 5(/.6" +%" 3H%/-.)K" -(%/%"*a)" ^3'/-&'6_" )'F&%" 16!" Y6"

:%&*./%3%&"%/"%6"%):.3('"5.*(6(.&K"6."*Hb%&"-(%/+%"."%)-&H3-H&.&6'"3'*'"-%&&(-'&('":&':('"

[K"%/"%)-%")%/-(+'"*H3I'"*a)".F(%&-'"["56%2(F6%!"Y)(*()*'K"&%3H&&%"."'-&.)".3-(L(+.+%)K"]H%"

)H&J%/"3'*'"/%3%)(+.+"%)-&(3-.*%/-%"5.*(6(.&"[":'&"6'"-./-'"&%)H6-./"6%JW-(*.)K":%&'"]H%"

6%":%&*(-%/"(/J&%).&"%/"a*F(-')"(/+%:%/+(%/-%)"+%"6')"*%3./()*')"+%"3'/-&'6"5.*(6(.&%)!_"

XT.6L%(&'K"=88A4"=@;C"

191

D'"]H%"%)-a":H%)-'"%/"+H+."%)")("%)-'"]H%"I.3%/"%66.)")%"3'/)(+%&."3'*'"H/."/%3%)(+.+"

:.&."6."5.*(6(.d"%/":&(/3(:('")WK"["3'/"%)."F./+%&."+%"6%J(-(*(+.+"+%"H/."*.+&%"FH)3./+'"."

)H"I(b.K":H%+%/"%)3.:.&"+%6"%):.3('"+%"3'/-&'6"+'*1)-(3'"["I.3%&")H['"%6"'-&'"%):.3('K"%6"

+%"6."'&J./(G.3(E/!""

Y+%*a)K" .6" ).6(&" +%" )H" 3.)." %/" %)-')" 3'/-%2-')" +%" ,H&%p.K" +." :(%" ." 3'/'3%&" H/"

*H/+'" -'-.6*%/-%" +()-(/-'K" /H%L'K" %" (/3%/-(L." ." %)-.)" *Hb%&%)" ." ]H%&%&" ).6(&" *a)!" ,/"

Y3%6.K":'&"%b%*:6'K"%2()-%"H/"+&a)-(3'"3.*F('"&%):%3-'".")H"3'/3%:3(E/"+%6"I'J.&"["." 6."

+%6(*(-.3(E/"+%")H"%):.3('!"V(")%"-'*."%/"3H%/-."-'+'"6'"]H%")%"*%/3('/E"./-%&('&*%/-%"

)'F&%" %6" *./+.-'" +%" )H"*.+&%" X]H%" 6." %+H3E" 3'*'" H/." ^*Hb%&" +%" 3.)._C" [" 6'" ]H%" )H"

*.&(+'" 6%":&'I(FW.").6(&" (/36H)'"."L%&")H)"I(b')"%/" 6.)"3'*:%-%/3(.)"+%"/.-.3(E/K"+%)-.3."

%/'&*%*%/-%"%6"I%3I'"+%" 6."/H%L."/%3%)(+.+"+%").6(&"["+%"%b%&3%&"%)%"+%&%3I'!"m.["H/"

3'&-%"["3.*F('"(*:'&-./-W)(*'"%/"%)-%")%/-(+'4"""

"

!>#Pb.,0&,#]5,#A"#+,D"+(#8(-"-#+,#%"+(#$()222#(#$()#,-&")#65-8"0+(#(#$()#,-&")#$")&.8.$"0+(#(#$()#

,-&")# ,-$,)"0+(?# +,# "%450"# '()*"T# Pb.,0&,# 8(*(# ]5,# A"# "6"0+(0"+(# "%4X0# Y*6.&(# .*$()&"0&,#

$")"#5-&,+T##

R># \(2# R%# 8(0&)").(2# t222u# V5,-# -W?# $()]5,# $5,-# &,# ,08.,))"-# C# ,-&Y-# 8(0# ,%# $,0-"*.,0&(?# 8(0# %"#

"045-&."?#%"#+,-,-$,)"8./0#+,#$(+,)#A"8,)#"%4(?#]5,#0(#,-&Y#"#&5#"%8"08,222#x#$5,-#C(#8),(#]5,#,-#

"%4(#]5,#&,#+,6,#+,#"C5+")?#,%#-"%.)#50#$(]5.&(#+,?#+,# %"#*.-*"#)5&.0"222#9-(#&,#"C5+"#*58A(2#bW?#

$()]5,?# $()# ,D,*$%(?# C(# *,# ,08.,))(?# C# *,# -.,0&(# *"%2# :,# -.,0&(# *"%?# *,# -.,0&(# 8"0-"+"?# *,#

-.,0&(#"65)).+"2#x#,-#C"#%"#8(-&5*6),#+,#,-&")#A"8.,0+(#-.,*$),#"%4(222#

!>#9-(#"#$")&.)#+,#,-&")#-"%.,0+(#8(0#%"#()4"0.="8./0222#t222u#Pq#+,-+,#"0&,-#&"*6.;0#%,#$"-"6"#,-(T#

R>#\(?#"0&,-#0(2#R0&,-#,-&"6"#C(#*5C#8(0&,0&"#,0#%"#8"-"2#t222u#bW?#C(#%(#X0.8(#]5,#*,#+,8W"0#H7(C#"#

&"%#$")&,K2#H!%;7"&,#,%#&,%;'(0(?#,-&;#,0#8(*50.8"8./0#8(0#0(-(&)(-K2#x#C(#0(#%(#A"4(2#\(#-;#"0+")#

8")4"0+(# ,%# &,%;'(0(?# C# -W# ,-# 0,8,-").(?# P0(T# V()]5,222# $()#*58A(# ]5,# 0(?# -W# -,# "045-&."0?# -W# -,#

$),(85$"02#XY3%6.K"=8#8C"#

Y6" +(L(+(&)%" %/" +')K" %/-&%" 5.*(6(." [" ,H&%p.K" :'+W." ." L%3%)" /'" %)-.&" %6" /H%L'" %):.3('"

+():'/(F6%"X%6"*.&(+'"+%"Y3%6.")W"(*:(+(E"]H%").6(%&."3'/"%6"T'*(-1"."*H3I')"6HJ.&%)"5H%&."

+%6"R()-&(-'C!"i%&'"H/."L%G"]H%")%"%)-.F."5H%&."+%6"%):.3('"+'*1)-(3'K"H/."L%G"(/)-.6.+.)"

%/"%6"%):.3('"+%6"T'*(-1K")%"3'/)'6(+E"%6"%):.3('":&':('".6%b.+'"+%"6."L(J(6./3(.!",6"I%3I'"

+%"/(")(]H(%&."I.F6.&"+%"%)-%"%):.3('"%/"3.).K"+%"*./-%/%&6'")(6%/3(.+'K"&%:&%)%/-."'-&."

5'&*."+%"+%6(*(-.&"["3%&&.&"6.)":H%&-.)"+%"%)%"'-&'"%):.3('!"iH%+%"&%6.3('/.&)%"%)-'"3'/"6'"

]H%"T.6L%(&'"I.F6."+%6"-.%,08.("3'*'"6."c6-(*."5'&*."+%"&%)()-%/3(.!"

192

i'&"c6-(*'K"$5&%+5$"(+)2#�)-%"-.*F(1/"-(%/%"6."+'F6%"3.&.K"%6"+'F6%"5(6'"]H%"%6",-$"8.(#-(%/%!"

V(%/+'"]H%")%".)'3(."*a)"3'/"5'&*.)"+%")H*()(E/K"-.*F(1/K"+%:%/+(%/+'"3E*'")%"H)%"["

3'/"]H1"3.&J.K":H%+%"-%/%&"H/":'+%&"&%)()-%/-%"(*:'&-./-%"3.:.G"+%"+%)3'6'3.&".6"'-&'4"

#9%#-.%,08.(#-,#*5,-&)"#8%")"*,0&,#,0#"%450"-#A.-&()."-#8(*(#'()*"#+,# %"#-5*.-./0#,# .08%5-(#+,# %"#

8(*$%.8.+"+# 8(0# %(-# $(+,),-# *"-85%.0(-2# b.0# ,*6")4(?# &"*6.;0# -,# $),-,0&"0# (&)"-# '()*"-# +,#

-.%,08.(#]5,#($,)"0#8(*(#50"#z),&.)"+"y#+,%#D5,4(#+,%#$(+,)2#9%#-.%,08.(#+,#%"#$"%"6)"?#+,%#"8&(?#+,%#

-,0&.*.,0&(# {&"*6.;0#*5C# '),85,0&,-[# "8&X"0# ,0#*58A(-# 8"-(-# 8(*(# &(*"# +,# +.-&"08."?# 8(*(#

$),-8.0+,08."?# 8(*(# ($"8.+"+?# .08),*,0&"0+(# %"# .08,)&.+5*6),# +,%# (&)(2# t222u# 9-?# "# %"# 7,=?# 50"#

-"%.+"#+,%# %54")#+,#6%"08(#+,%#$(+,)#C#50"#&(*"#+,#+.-&"08."#+,',0-.7"#C#(',0-.7"2#V,)*.&,#8.,)&"#

$),-8.0+,08."#]5,#-(6),#&(+(#$)(&,4,#$,)(#"# %"#7,=# .)).&"?#+,-8(08.,)&"#C# '.0"%*,0&,#+,-8(%(8"#"%#

(&)(2"XT.6L%(&'K"=88A4"=@<C""

,/" %6" 3.)'" +%" +'`." P%[/." %)" 36.&W)(*." 6." 5H/3(E/" +%6" )(6%/3('K" 6." &%-(&." +%6" I.F6." X[" +%6"

)%/-(*(%/-'C".")H"%):')'!"|K":'&"6'"]H%"3H%/-.")H"I(b.K"%)"H/."+%"-5-"5'&*.)"X5&%3H%/-%)C"

+%"%b%&3%&":'+%&"["3'/-&'6"%/"6."5.*(6(.K"-.*F(1/"%/"6')"I(b')!"

"

i'&"'-&'"6.+'K"&%):%3-'".6")(6%/3('K"%)"3H&(')'"[".:.&%/-%*%/-%"3'/-&.+(3-'&('K"3E*'"':%&."

-./"+()-(/-'"&%):%3-'".6"*()*'"-%*."%/"6')"+()-(/-')"%):.3(')!",/")H"3.).")%"(/)-.H&."X/'"

I.F6."*H3I'"+%6" -%*."3'/" )H" 5.*(6(.d" %)"%6" 3.)'"+%"Y3%6." -.*F(1/CK"*(%/-&.)"]H%"%/" 6."

'&J./(G.3(E/"X'"*a)"F(%/K"TQO"6."'&J./(G.3(E/CK")%"&'*:%!"Y]HW"%)-a"%6"%b%*:6'"+%"3E*'"

:H%+%" .+':-.&" %)-.)" +')" 3.&.)!" i%&'K" ." 6." L%GK" %/" .*F')" %):.3(')" " :H%+%" (/-%&:&%-.&)%"

3'*'"5'&*.)"+%"&%)()-(&!"

"

193

"['h'- e;$*!%&%;Ob$#+*+,!,$%&

#

"

U5,#A(C#

C#%"#7.+"#&(*/#(&)(#)5*6(2#

\508"#*Y-#7(%7,)W"#"#-,)#%"#*.-*"2#

RA()"?#-(C#%"#*"+),#+,#50#+,-"$"),8.+(2#

#

XPH-I"0'6(/."+%"TH%L.)"K"%/")H":'%*.&('"x#*,#_.-&.,)(0#+,#!5&(?#%/"h(JH%&'.K"#<<<4"#?BC""

#

,/"%6"/H%L'"%):.3('"["+%"6.":H%)-."%/":&a3-(3."+%"%)-%"-(:'"+%"&%)()-%/3(.)"]H%"9-.6"L%G"

./-%)""L%6.+.)K":%&'"/'".H)%/-%)9")H&J%"%/"%)-.)"-&%)"*Hb%&%)"[")%"3'/)-&H[%K"+W."."+W.K"6'"

]H%"Ä(F%3I("66.*.""5&("'.)*"8./02#,/"%6"3.)'"+%"Y3%6."["P%[/.":'+%*')"%2-&.:'6.&"6."3(-."

]H%"Ä(F%3I("H-(6(G.":.&."I.F6.&"+%"6.)"0.+&%)"+%"i6.G."+%"0.['4"

#9%%"-#-,#"5&("'.)*"0#,0#%"#%58A"p#8(*(#*5D,),-?#8(*(#*"+),-#+,#+,-"$"),8.+(-?#8(*(#%58A"+(),-#

-(8."%,-#t1u2#\(#(85%&"0#%(#]5,#-(0p#-5#.40()"08."#$(%W&.8"#.0.8."%# %"#8(07.,)&,0#,0#")45*,0&(2#b(0#

,%%"-?#"-W#8(*(#-(0?#C#$50&(2#b5#.+,0&.+"+#$5,+,#.)#8"*6."0+(?#+,#A,8A(#,-&(#$5,+,#+.-85&.)-,?#$,)(#

,%%"-#8),8,0#"%#"'.)*")-,#8(*(#%(#]5,#-(0?#*"+),-#+,#+,-"$"),8.+(-2#\(#0,8,-.&"0#+.-')"=")-,#+,#

0"+"?# $(0,)-,# 0.0450"# ,&.]5,&"?# 0.04X0# +.-')"=?# 8(*(# A"6.&5"%*,0&,# A"8,*(-# %(-# *.%.&"0&,-2#

XÄ(F%3I(K"=88B4"@7C""

,/"Y(3%6."-.*F(1/")%"3'/)-&H[%"[")%"%/3H%/-&."H/."/H%L."5'&*."+%"%)-.&"%/"%6"*H/+'"]H%"

3'/3(6(." -'+.)" 6.)" -./-.)" :.&-%)" +%" 6.)" 3H.6%)" )%" 3'/5'&*." [" 6." I.3%/" )%&" ]H(%/" %)!" Y)W"

-%&*(/.":'&"+%5(/(&)%4"

"Y4" 222.0&,%.4,0&,?# ,A222# $5,-222# ]5,# &.,0,# 50"# '"*.%."?# C# ,0# ,-"# '"*.%."# ,-&Y0# &(+(-#*.-# A,)*"0(-?#

.08%5C,0+(#"#_"%,0&W0?# t1u222#*,#-.,0&(#8(*(#()45%%(-"#+,#*.# '"*.%."?#$()]5,#,-#4,0&,#8(*(#*5C#

),8(0(8.+"#,0#&;)*.0(-#+,#-5#&)"6"D(?#+,#-,)#4,0&,#*5C#+.0Y*.8"?#*5C#%.-&"p#(#-,"?#8(0#85"%.+"+,-#

]5,# 8),(# &,0,)%"-# C(# &"*6.;0?# -/%(# ]5,# ,%%(-# *Y-# ,0# ,%# Y*6.&(# +,%# 0,4(8.(p# ,A222# ]5,# -(C# 50"#

$,)-(0"#]5,#%58A"#-(8."%*,0&,p#]5,#A"8,#50"#%"6()#-(8."%?#$(%W&.8"?#]5,#(85$(#,%#,-$"8.(#]5,#&,04(#

$")"#,-,#'.0?#C#]5,#,-(#*,#+"#-"&.-'"88./0222#Q5,#&"*6.;0#*,#+"#),8(0(8.*.,0&(?#$()]5,#*,#+,'.0,#

8(*(#%(#]5,#-(C2#b.,0&(#]5,#&,04(#50#),8(0(8.*.,0&(#,0#%"#,-85,%"?#,0222#,0#*58A(-#(&)(-#%54"),-#

.45"%*,0&,?#$()]5,?#+,0&)(#+,#&(+"# %"#&)"C,8&()."#]5,#C(#&57,#8(*(#,-&5+."0&,?#8),(#]5,#A"C#50#

),8(0(8.*.,0&(222#8(*(#4,0&,#A(0,-&"?#8(*(#4,0&,#8(0#50"#7.-./0#$)(4),-.-&"2#L5"0+(#%"#4,0&,#*,#

,085,0&)"?#*,#-"%5+"#*5C#,5'/).8"*,0&,2#@"C#50#),8(0(8.*.,0&(?#50"#$,)-(0"#]5,).+"222#]5,).+"#

$5,-# 0(# -/%(# $()#*.# $"),D"?# -.0(# $()#*.-# A,)*"0(-2#:.-# A,)*"0(-#*,# &.,0,0# 8(*(# 50# ,-$,8."%#

8").J(2#:.-#8(*$"J,)(-#+,#,-85,%"?#*.-#"*.4(-2#x(#8),(#]5,#-(C#50"#R.8,%"#$5,-222# 8(0#*58A"222#

194

P8/*(# &,# +.);T# V5,-# 8(0#*58A"-# 8(-"-# ]5,# (&)(-# 0(# &.,0,02# x# ]5,# A"# -.+(# $)(+58&(#+,# &(+(#50#

$)(8,-(2#^0#$)(8,-(#,0#,%#]5,#C(#A,# .+(#8(0&).65C,0+(#$")"#-,)# %(#]5,#-(C?#C#]5,?#,-&,?#$5,-#+,#

R.8,%"# $(+,*(-# ,-$,)")# &(+"7W"# *58A(2# :58A(2# \(# -(C# 50"# $,)-(0"# ]5,# -,# ).0+"?# -(C# *5C#

$,)-.-&,0&,222# ,0# &(+(-# %(-# "-$,8&(-2# @"-&"# ,0# ,-&(# +,%# ,*6")"=(?# ,0# ,-&(# +,# %"#*"&,)0.+"+2# 90#

&(+(-#%(-#"-$,8&(-#-(C222#x#8),(#]5,#*58A"-#+,#%"-#8(-"-#]5,#*,#$)($(04(#%"-#%(4)(2#x#,-(#*,#+"#

-"&.-'"88./02# x# ]5,?# "# $,-")# +,# &,0,)# 50# A,)*"0(# +,-"$"),8.+(?# C(# 8),(# ]5,# t222u# $5,-# R.8,%"# 0(#

+,-'"%%,8,?#0(# 8",?# -.45,#"+,%"0&,?# C#$5,-#]5,?#"+,*Y-?# 8),(# -,)#50#6"-&/0# .*$()&"0&,#$")"#*.-#

A,)*"0(-2#XY(3%6.K"=8#8C"#

#

V%" :H%+%" 6%%&" %6" I%3I'" +%" .+I%&(&)%" ." H/." 6H3I.K" ." H/" /H%L'" J&H:'K" 3'*'" H/" &%3H&)'"

(/)-&H*%/-.6":.&."FH)3.&".")H")%&"]H%&(+'K"3'*'"H/."+%"6.)":')(F6%)"3'/)%3H%/3(.)"+%"6.)"

/H%L.)" :&a3-(3.)" ." 6.)" ]H%" 6." +%).:.&(3(E/" +%" H/" 5.*(6(.&" 3'/66%L." X%/" %)-')" 3.)')" %/"

:.&-(3H6.&Cd" :%&'" -.*F(1/K" ." )H" L%GK" %)-." .+I%&%/3(." :H%+%" 6%%&)%" 3'*'" J%/%&.+'&." +%"

/H%L.)" :&a3-(3.)" [" /H%L.)" )HFb%-(L(+.+%)d" 3'*'" H/" +.+'&" +%" )%/-(+'" ]H%" &%.&-(3H6." %6"

*H/+'"+%"L(+."-&.)-'3.+'!"

"

^,)"+%)+%")H":')(3(E/"+%")Hb%-')")'3(.6%)"&%)()-%/-%)K"3'*'"6HJ.&"+%"J'G/%"%/-&%"%6":'+%&"["

6.")H*()(E/K"+%)+%"+'/+%")%"%2:&%)./"-./-'")H"+%F(6(+.+"3'*'")H"5'&-.6%G.K")H"(*:'-%/3(."

[" )H" :'-%/3(.K" )H" .5%&&.*(%/-'" ." 6'" +.+'" [K" ." 6." L%GK" )H" %2-&.'&+(/.&(." 3.:.3(+.+" :.&."

.F.-(&")(%*:&%"6.":')(F(6(+.+"+%"/H%L')"%)3%/.&(')!_"XT.6L%(&'K"=88A4"=B@C#

"

,)"H/."*()*."5.6-.K"(*:H%)-."+%)+%"%6"%2-%&('&K"3'*'"H/"%L%/-'".b%/'".")H"3'/-&'6K"6."]H%"

*.&3." 6." L(+."+%"%)-.)"*Hb%&%)K" [" 6." ]H%" 6.)" :%&)(JH%"+%)+%"%/-'/3%)" 3'*'"H/."')3H&."

*./3I."(*:')(F6%"+%"F'&&.&!"V(/"%*F.&J'K"%)"%)-."*()*."5.6-."6."]H%"6.)"&%3'/)-(-H[%K"6.)"

&%%)-&H3-H&." [" ." :.&-(&" +%" 6." 3H.6" )%" &%3'/)-&H[%/" ." )W"*()*.)" [" %/3H%/-&./" H/." /H%L."

5'&*."+%")%&"["+%"%)-.&"%/"%6"*H/+'K"H/."/H%L."(+%/-(+.+!"|"6%b')"+%")H3H*F(&"./-%"%)-%"

5.-.6" .3'/-%3(*(%/-'" :.)(L.*%/-%" [" .)H*(&)%" LW3-(*.)" +%" :'+%&%)" %2-%&/')K" %66.)K"

.3-(L.*%/-%K" +%3(+%/" I.3%&)%" 3.&J'" +%" %)%" +'6'&" [" 3'/L%&-(&6'" %/" *'L(*(%/-'K" %/"

&%)()-%/3(.!!!"%/":'6W-(3.!"D.")(JH(%/-%"3(-."+%"0.&-W/%G"+%"6.",)3.6%&."&%):%3-'"."6.)"0.+&%)"

.&J%/-(/.)" :(%/)'" ]H%" :'+&W." :%&5%3-.*%/-%" I.F6.&" +%" 6." &%.6(+.+" +%" 6.)" +'`.)" +%"

o,H&%p.q4"

"

195

$,-,# "# -5# .0-.-&,08."# ,0# %"# '.45)"# +,# %"#*"+),# 8(*(# ($,)"8./0# 8,0&)"%# ]5,# (&()4"# -,0&.+(# "# -5#

*(7.*.,0&(# B13# $)"8&.8"0# %(# $(%W&.8(# *58A(# *Y-# "%%Y# +,# %"# H7.8&.*.="8./0K2# B13# A"0# %(4)"+(#

*(7.%.=")#$X6%.8"*,0&,#-5#-5$5,-&(#),-,0&.*.,0&(#C#$;)+.+"?#,-#+,8.)#,%#&)"5*"2#I,#,-&"#*"0,)"?#,%#

,',8&(# $,)'()*"&.7(# +,# %"-# *(7.%.="8.(0,-# (# ,-&)"&,4."-# +,# ),-.-&,08."?# ,-# +,8.)# %"# *(7.%.="8./0#

$X6%.8"# B13# ]5,# A"# -5-&.&5.+(# ,%# ,-$"8.(# +(*;-&.8(# +,# %"*,0&"8./0# $()# %"# 8"%%,# $X6%.8"?# ]5,# A"#

-5-&.&5.+(# ,%# ,-$"8.(# $).7"+(# +,# -(8."%.="8./0# +,%# +(%()# $()# ,%# ,-$"8.(# $X6%.8(# +,# ,D,)8.8.(# +,# %"#

6,%.4,)"08."#C#,<.4,08."#+,#D5-&.8."#*Y-#"%%Y#+,%#+,),8A(?#+,6,#-,)#8(0-.+,)"+(#50#,',8&(#$(%W&.8(2#

B13#-(0#,-&)"&,4."-#+,#),-.40.'.8"8./0#B-.*6/%.8"-#+.)W"#S"08.~),3?#+,#-5-&.&58./0#+,%# ),-,0&.*.,0&(#

$()#%"#+,*"0+"#+,#50"#D5-&.8."#*Y-#"%%Y#+,%#8"-&.4(#X0.&-W/%G"+%"6.",)3.6%&.K"=88?4";;C""

196

TQOTDSVNQO,V""

D."+%).:.&(3(E/"+%"6')"5.*(6(.&%)"3.H)E"H/"5H%&-%"(*:.3-'"[")(J/(5(3E"H/"./-%)"["H/"+%):H1)"

%/" 6." L(+." +%" %)-.)" *Hb%&%)!" ,/" 6')" &%6.-')" *()*')" %)-%" %L%/-'" )%" :%&3(F%" 3'*'" %6"

+%-'/.+'&"["%6":.&-%9.JH.)K".":.&-(&"+%6"3H.6")%"&%)(J/(5(3./"6.)"I()-'&(.)"/.&&.+.)!",)"36.&'"

]H%" %)-." :1&+(+." :%&*%." [" +(&(J%"*H3I.)" /H%L.)" :.H-.)" +%" .33(E/" [" IaF(-')" %/" L.&(')"

.):%3-')"["&HF&')"+%"6."L(+."+%"%)-.)"*Hb%&%)!"V%"3'/L(%&-%"6.".H)%/3(."+%")H)"5.*(6(.&%)K"

:%&*./%/-%*%/-%" :&%)%/-%K" %/" H/" J&.+(%/-%" +%"*'L(*(%/-'" ]H%K" 6%b')" +%" :.&.6(G.&6.)K"

(/3(-." %6" *'L(*(%/-'4" *'L(*(%/-'" -./-'" 5W)(3'" X%/" %6" :&'3%)'" +%" Fc)]H%+.CK" 3'*'"

*'L(*(%/-'" )HFb%-(L'" X%/" 3H./-'"." )H".H-'3'/3%:3(E/K" )H" (+%/-(+.+K" ." 6." -&.)J&%)(E/"+%"

6W*(-%)"3H6-H&.6%)K"["."H/":&'3%)'"+%"3'/3(%/-(G.3(E/"[":'6(-(G.3(E/"9:.&-(3(:.3(E/":'6W-(3'9

)'3(.69"]H%"3'/66%L."/H%L.)":&a3-(3.)")'3(.6%)C!"Y":.&-(&"+%"%)-.":1&+(+.K":H%)K")%"+."H/."

)%&(%"+%"&%3'/5(JH&.3('/%)K"-./-'":%&)'/.6%)K"3'*'"5.*(6(.&%)!"

"

,)")(/"+H+."%6"T'*(-1"o,H&%p.q"H/."+%"6.)"L%/-./.)"+%"%):%&./G."]H%"3H*:6%"H/."5H/3(E/"

36.&.*%/-%"&%:.&.+'&."["H/":.:%6"5H/+.*%/-.6"%/"%6"(/-%/-'"+%"&%)-&H3-H&.&"%6"*H/+'"+%"

L(+." +%)%)-.F(6(G.+'" ." &.WG" +%" %)-%" -(:'" +%" :1&+(+." -./" :.&-(3H6.&!" V(/" %*F.&J'K"

3'/)(+%&./+'" ]H%" 6." &%.6(+.+" X)'3(.6" [" )HFb%-(L.C" /'" %)-a" 3'/)-&H(+." :'&" 5&.J*%/-')" ["

&HF&')" (/+%:%/+(%/-%)" H/')" +%" '-&')K" :H%+%" .)%L%&.&)%" ]H%" 6." :.&-(3(:.3(E/" :'6W-(3." /'"

%2()-%" )(/" H/." &%6.3(E/" 3'/" 6.)" I()-'&(.)" :%&)'/.6%)" [" 6')" 3'/-%2-')" 3H6-H&.6%)K" )'3(.6%)" ["

:'6W-(3')" %/" 6')" ]H%" %)-.)" *Hb%&%)" %)-.F./" (/%L(-.F6%*%/-%" (/*%&).)!" VH)" 5.*(6(.)" [" 6."

&%6.3(E/" 3'/" )H)" 5.*(6(.&%)K" )'/" H/')" +%" 6')" %6%*%/-')" 3'/-%2-H.6%)" ]H%" (/3(+%/"

5H%&-%*%/-%"%/"%6"-(:'"["%/"%6"J&.+'"+%":.&-(3(:.3(E/":'6W-(3."[")'3(.6!"

"

i'+%*')"3'/36H(&"]H%K"%/"%)-')"3.)')K"6."5.*(6(.":H%+%"3H*:6(&"-&%)"5H/3('/%)"%/"&%6.3(E/"

."6.":.&-(3(:.3(E/":'6W-(3.4"

#C iH%+%"&%:&%)%/-.&"H/"'F)-a3H6'"%"(*:%+(*%/-'K"

=C :H%+%"5H/J(&"3'*'"H/".:'['K"

@C '"F(%/K":H%+%"5H/J(&"3'*'"H/"5.3-'&"%6(3(-.+'&!"

"

197

P%):%3-'".6":&(*%&":H/-'K"%/"&%)H*(+.)"3H%/-.)K"%)"6."5.*(6(.K"%/"%6"3.)'"+%"P%[/."["Y3%6.K"

H/'" +%" 6')" (*:%+(*%/-')" :.&." :.&-(3(:.&" %/" 6." 5'&*." %/" 6." ]H%" %66.)" IHF(%&./" ]H%&(+'"

I.3%&6'!" V("F(%/" 6'J&." -&./)J&%+(&)%"%/"*H3I')".):%3-')K"%6"*./+.-'"+%" &%):'/+%&"." 6.)"

+%*./+.)"+%"I(b')"["%):')'")(JH%"(*:%&./+'!"

D."5.*(6(.")%"3'/L(%&-%"%/"H/".:'['"%/"%6"3.)'"+%"Y(3%6.!"D."&%6.3(E/"I'&(G'/-.6"3'/"

)H" :.&%b." :%&*(-%" ]H%" 6.)" 6.F'&%)" .6" (/-%&('&" +%6" I'J.&" :H%+./" +()-&(FH(&)%" %"

(/-%&3.*F(.&)%"J%/1&(3.*%/-%!"Y+%*a)K"-./-'"6.)":')-H&.)":'6W-(3.)"["5'&*.)"+%":%/).&"%/"

3'*c/K"3'*'""6."I()-'&(."["%2:%&(%/3(.)"3'*:.&-(+.)"3'/"16K"6'"3'/L(%&-%/K".+%*a)K"%/"H/"

3'*:.`%&'"+%"6H3I."[")'/"&.GE/")H5(3(%/-%":.&.".:'[.&"[")'6(+.&(G.&)%"3'/"Y(3%6.d"-./-'"%)"

.)W"]H%K")(%*:&%"]H%":H%+%K"6.".3'*:.`."."6.)".33('/%)"+%"o,H&%p.q!"

P%):%3-'" ." 6." 5.*(6(." 3'*'" %6(3(-.+'&." +%" 6." :.&-(3(:.3(E/" :'6W-(3." %/" %6" T'*(-1K"

:H%+%/"+%3(&)%"-&%)"3').)!",/":&(*%&" 6HJ.&K"%)" 6."&%6.3(E/"3'/"%6" 5.*(6(.&"+%).:.&%3(+'" 6."

]H%"L."."+%-'/.&"%)-.":.&-(3(:.3(E/d"%6".5%3-'"["%6"+'6'&"\L%/3(%/+'".6"*(%+'K"]H%"/'"+%b."

+%"%)-.&":&%)%/-%9")'/K"%/"%)-')"3.)')K"%6":&(/3(:.6"*'-'&"+%"6H3I.!",/")%JH/+'"6HJ.&K"%/"%6"

3.)'"+%"Y(3%6.K"%)" 6." 5.*(6(.K"[")'F&%"-'+'" 6."*.+&%K"]H(%/" 6." (/3%/-(L.".":.&-(3(:.&d"%)" 6."

5'&*."%/"6."]H%")%""%):%&."'F-%/%&".6JH/."(/5'&*.3(E/")'F&%"y.6%/-W/!"|":'&"c6-(*'":H%+%"

+%3(&)%"]H%K".6")%&"%6"*H/+'"5.*(6(.&"+%"Y3%6."["P%[/."H/."+%" 6.)":&(/3(:.6%)"5H%/-%)"+%"

+%):&%)-(J('K"%)-(J*.-(G.3(E/"%"(/3'*:&%/)(E/K"%/"6'"]H%"."6.")(-H.3(E/"+%"6."+%).:.&(3(E/"

+%" )H)" I(b.)" )%" &%5(%&%K" .3-c." 3'*'" %6(3(-.+'&." +%" 6." Fc)]H%+." +%" H/" /H%L'" %):.3('" %/"

+'/+%"%)-'"/'")H3%+.4"%6"T'*(-1"o,H&%p.q")%"3'/L(%&-%"%/"%)-%"%):.3('!""

T'*'".6":&(/3(:('"+%"%)-%"-&.F.b'")%"*%/3('/EK" 6."+%3()(E/K".":%).&"+%" 6')"&(%)J')K"%6"

+%)J.)-%"-./-'"5W)(3'K"%*'3('/.6"3'*'"-.*F(1/"%3'/E*(3'K"]H%"%6"I%3I'"+%"FH)3.&".")H)"

)%&%)"]H%&(+')"+%).:.&%3(+')"%"(/-%J&.&)%"."H/."'&J./(G.3(E/"+%"5.*(6(.&%)"(*:6(3.K"/'"%)"

6."*a)"3'*c/!"O'"-'+')"6')"5.*(6(.&%)K"*a)"F(%/":'3')K"+%3(+%/"I.3%&6'!"iH%+%"-%/%&"%)-'"

*H3I.)"%2:6(3.3('/%)"]H%")%&W." (*:')(F6%"%/H*%&.&!"V(/"%*F.&J'K"H/"5.3-'&" (*:'&-./-%K"

]H%")%JH&'"-(%/%"(/56H%/3(.K"%)"%6"-(:'"+%"&%6.3(E/"3'/"%6"+%).:.&%3(+'4"

"

#C D')" 3.)')" +%" R'`." P%[/." [" R'`." Y3%6." :H%+%/" 3'/L%&J%&" %/" %6" .):%3-'" +%" 6."

*.-%&/(+.+!" Y" 6'" 6.&J'" +%" )H)" I()-'&(.)" :%&)'/.6%)" )%" :H+'" (+%/-(5(3.&" H/" 5H%&-%"

198

*./+.-'" *.-%&/'" ]H%" (*:H6)." [" %3I." ." ./+.&K" +%)+%" H/" (/(3('K" H/." Fc)]H%+."

(/3./).F6%" :'&" %/3'/-&.&" ." H/." I(b." :%&+(+.!" S/." Fc)]H%+." [" H/." :.H-." +%"

.33('/%)" ]H%" /(" )(]H(%&." )%" 3H%)-('/./" /(" )%" )(J/(5(3./" \:'&" %66.)" *()*.)9" %/" %6"

*'*%/-'"3'*'"L.6(').)K"3'/5&'/-.-(L.)K".H+.3%)"/("%b%*:6.&%)!"V%"/.-H&.6(G./"[")%"

3'/)(+%&./"3'*'"^6'"]H%"-%/W./"]H%"I.3%&_!",)"%/"&%-&'):%3-(L.K"["+%):H1)"+%"6.)"

L(L%/3(.)"3'*:.&-(+.)"[".:.6.F&.+.)"%/"%6"3'6%3-(L'K"]H%"%)-.)"+')"*.+&%)":H%+%/"

+(*%/)('/.&"%6"/(L%6"+%"&(%)J'".6"3H.6")%"I./"%2:H%)-'"["%6":&':'&3('/.6"L.6'&"]H%"

)H)".33('/%)"&%:&%)%/-./!",/"Y3%6."%)-a"3'/)-./-%*%/-%"%L(+%/3(.+'"%6"*./+.-'"

-&./)*(-(+'" :'&" )H" 5.*(6(.K" :.&-(3H6.&*%/-%" :'&" )H" *()*." *.+&%K" +%6" +%F%&" +%"

*.+&%!" Y3%6." &%3'/)-&H[%" [" +." )%/-(+'" ." )H" L(+." ." -&.L1)" +%" %)-%" +%F%&" )%&!" ,6"

&%6.-'"+%")H"L(+."%)"%6"&%6.-'"+%" 6."&%6.3(E/"3'/")H"*.+&%K"'"F(%/" 6.)"L(L%/3(.)"+%"

)H)"I(b')K"%/":.&-(3H6.&"+%")H"I(b."m(6+.!"YF./+'/.&"6."Fc)]H%+."+%")H"I(b.K"'"F(%/"

I.F6.&"+%")H"*H%&-%K"/'")'/":')(F(6(+.+%)"+%/-&'"+%"%)-%"%)]H%*.!""

=C i.&."Y(3%6.")H"I%&*./'"y.6%/-W/"&%:&%)%/-E"+%)+%":%]H%`."H/."5(JH&."36.L%K"[" 6'"

)(J/(5(3." 3'*'" *H3I'" *a)" ]H%" H/" I%&*./'4" .+%*a)" +%" 6." &%6.3(E/" .5%3-(L." ["

5&.-%&/.6K" %66." 6'" 3'/)(+%&." 3'*'" H/" -H-'&K" H/" *'+%6'" ." )%JH(&d" 5H%" ]H(%/" 6."

(/3%/-(LE" [" .:'[E" %/" )H" 5'&*.3(E/" .3.+1*(3.K" -./-'" *'&.6" 3'*'" 6'JW)-(3." ["

%3'/E*(3.*%/-%K" ]H(%/" 6." (/)-&H[E" [" ]H(%/" " 6%" -&./)*(-(E" L.6'&%)" [" :')-H&.)"

(+%'6EJ(3.)!" V(J/(5(3." :.&." %66." )H" :&(/3(:.6" 5H%/-%" +%" (/):(&.3(E/K" )H" *%/-'&"

(/-%6%3-H.6"[":'6W-(3'!",)"%)-."&%6.3(E/"-./":.&-(3H6.&"6."]H%"I.3%"-./"+H&'"%6"J'6:%"

+%"6."+%).:.&(3(E/!"y.6%/-W/K".+%*a)K"%&."H/.":(%G."F.)%"+%")H)-%/-'")E6(+'":.&.")H"

5.*(6(.!" hH/JW." 3'*'" :&'L%%+'&K" :&'-%3-'&" %" (/)-&H3-'&!" S/." L%G" ]H%" 6'"

+%).:.&%3%/K"%6"%b%"]H%"&%JW."["+(&(JW."6."L(+."+%"Y(3%6."X["+%")H"5.*(6(.C"I.FW.")(+'"

+%)3'6'3.+'!",)-'"6." 66%LE"."H/."(/%)-.F(6(+.+"["H/".()6.*(%/-'")(J/(5(3.-(L')"%/"%6"

:%&('+'"+%")H"L(+." (/*%+(.-'"." 6."+%).:.&(3(E/!"V(/"%*F.&J'K"%)":&%3().*%/-%"%6"

6%J.+'"+%")H"I%&*./'"[" 6."+%H+."]H%"Y(3%6.")(%/-%"I.3(."1)-%" 6'"]H%" 6."*'-(L."%"

(*:H6)."."FH)3.&6'!" D." &%):'/).F(6(+.+"+%"I.3%&6'" &%3.%"%/"%66." .6" )%&"]H(%/"*a)"

3%&3."%)-.F."."16"["*a)"5.*(6(.&(G.+."%)-.F."3'/"%6".*F(%/-%"+%"6.)"*'L(6(G.3('/%)"

%)-H+(./-(6%)"[" 6.":.&-(3(:.3(E/":'6W-(3.!"Y)H*%"[")%".H-'9.+bH+(3."%)-%"+%F%&"]H%"

199

&%):'/+%K"-.*F(1/K"."6'"]H%")H"5.*(6(.K"%/":.&-(3H6.&")H"*.+&%K"%):%&./"+%"%66.!",)"

%/" %)-%" )%/-(+'" ]H%" :H%+%" +%3(&)%" ]H%" .)H*%" %6" :.:%6" ]H%" )H"*.+&%K" +%)+%" )H"

3'/-%2-'K"/'":H+'".)H*(&>"["&%L(%&-%"6."&%6.3(E/"3'/")H"I%&*./'4")%"3'/L(%&-%"%66.K"

+%" .6JH/."*./%&.K" %/" )H" &%):'/).F6%K" [" %/" 6." &%):'/).F6%" +%" L%&" :'&" 6." 5.*(6(.K"

:.:%6"]H%"./-%)"3H*:6W."y.6%/-W/!""

"

D."*(6(-./3(."%/"o,H&%p.q4"s&H:-H&.)K"-&./)5'&*.3('/%)"'"3'/-(/H(+.+%)t"

"

Y3%6."["P%[/.4":'+&W."+%3(&)%"]H%" 6."+%3()(E/"+%" (/-%J&.&)%".6"T'*(-1",H&%p." 5H%K"%/"H/"

:&(*%&"*'*%/-'K"+%"-(:'"(/)-&H*%/-.6!"hH%"I.)-."]H%")%"5H%"3'/'3(%/+'"'-&."&%.6(+.+"]H%"

)%"3'*%/GE"."3'/)-&H(&"H/")%/-(+'"+%"3'6%3-(L(+.+K"[")%".+':-E"%6"+()3H&)'"+%"H/." 6H3I."

3'6%3-(L."["+%"6."Fc)]H%+."+%"-'+')"6')"+%).:.&%3(+')!"V%"3'/L(%&-%"%)-%"%):.3('"%/".]H%6"

+%)-(/.+'" :.&." 3(&3H/)3&(F(&" 6." 5.6-." [K" .+%*a)K" %/" +'/+%" 1)-." )%" 3'*:&%/+%" [" )%"

3'*:.&-%!"N*:6(3."6."(/)%&3(E/"."H/"H/(L%&)'"+%"/H%L')")%/-(+')"3'*:.&-(+')!"V%"6%)"+."H/"

6HJ.&".")H)"I(b.)K"[")%"5'&b."H/."&%6.3(E/"3'/"%66.)"."&.WG"+%"H/."3'/-(/H."Fc)]H%+."["H/."

6H3I."]H%"/'":'+&W."+%b.&)%"'".F./+'/.&)%"X.)W"3'*'"-.*:'3'":H%+%".F./+'/.&)%"."H/."

I(b.C!" Y+%*a)" %)" ." -&.L1)" +%" %)-." '&J./(G.3(E/" [" +%" %)-%"*H/+'" +%)3HF(%&-'" ]H%" %66.)"

:H%+%/" (&" 3'*:&%/+(%/+'K" &%3'/)-&H[%/+'K" &%3'/'3(%/+'" ." )H)" :&':(.)" I(b.)K" :&'3%)'"

:&%)%/-%" [" /%3%).&('" %/" 3H.6]H(%&" +H%6'" X%)-%" c6-(*'" %/-%/+(+'" 3'*'" %6" +'6'&" :'&" H/."

:1&+(+.K"/'"/%3%).&(.*%/-%"."&.WG"+%" 6."*H%&-%C!",6".F./+'/.&)%" (*:6(3.&W.".F./+'/.&"."

H/." I(b." [" %)'K" /.-H&.6*%/-%K" +%)+%" )H" *H/+'K" +%)+%" +'/+%" %66.)" %/-(%/+%/" 6."

*.-%&/(+.+"["+%)+%"+'/+%"%66.)"6."L(L%/K"%)"(/3'/3%F(F6%!""

VH" L(+." 3.*F(E" :'&" 3'*:6%-'" [" %)-a/" .I'&." %/" H/" 6HJ.&" %/" +'/+%" /H/3."

(*.J(/.&'/"%)-.&" !"D."*(6(-./3(.":'6W-(3." X+%)+%")H":.&-(3(:.3(E/"%/"o,H&%p.qC")%"3'/L(&-(E"

%/":.&-%"+%")H"L(+."3'-(+(./.!"S/."*.&3I.K"H/."&%H/(E/K".:'[.&"'-&.)"6H3I.)K")%"66%J.&'/"."

3'/)(+%&.&"[.".6J'"-.*F(1/"/.-H&.6K"3'-(+(./'!",66.)"&%(L(/+(3./"-./-'"6."6H3I."+%")H)"I(b.)"

X["%/"%)-%")%/-(+'"%)"]H%"6%"+./")%/-(+'".")H"+%).:.&(3(E/K"."6.":1&+(+.CK"3'*'"-.*F(1/"6.)"

3.H).)" +%" )H" 3'6%3-(L'" [" +%" '-&.)" 6H3I.)!" V(/" %*F.&J'K" :(%/)'" ]H%" /'" )%" )(J/(5(3." %/"

+()3H&)'K" 3'/)3(%/-%*%/-%K" )H" %)-.&" %/" ^o,H&%p.q_" 3'*'" H/." 5'&*." +%" *(6(-./3(." [" +%"

200

.3-H.&" :'6W-(3'!" i(%/)'" ]H%" :.&." Y3%6." 6." &%6.3(E/" 3'/" ^o,H&%p.q_" &%:&%)%/-E" [" )(JH%"

&%:&%)%/-./+'"%/"J&./":.&-%K"6."&%6.3(E/"3'/")H"I(b.d"["%)".)W"3'*'"%2:6(3.")H":.&-(3(:.3(E/"

%/" %6" T'*(-1!" i%&'" ]H%" ." 6." :.&" )%" +%/"'-&')" .:&%/+(G.b%)K" :&'3%)')" +%" 3'/3(%/-(G.3(E/"

:'6W-(3." [" )'3(.6K" /'" :H%+%" /%J.&)%!" $./-'" %/" %66." 3'*'" %/" P%[/." ]H%+." (/)-.H&.+'" ["

.:&':(.+'"%6"+()3H&)'"-./-'"+%6"^oy(L')" 6')" 66%L.&'/K"L(L')" 6')"]H%&%*')q_K"3'*'"%6"+%" 6."

6H3I." :'&" -'+')" 6')" +%).:.&%3(+')" X/'" )E6'" :'&" )H)" I(b.)C!" |" %6" :.)'" +%" H/." +%*./+."

(/+(L(+H.6"."H/."3'6%3-(L."%)"-.*F(1/"'-&."5'&*."+%"&%(L(/+(3.&" 6."*%*'&(."[" 6." 6H3I."+%"

)H)" I(b.)!" Y*F.)"*%/3('/./" %6" I%3I'" +%" ]H%" %)" 1)%" %6" 3.*(/'" ]H%" )H)" I(b.)" IHF(%&./"

]H%&(+'" ]H%" -&./)(-.&./!" ,/" %)-%" )%/-(+'" %)" ]H%" %)-.)" c6-(*.)" )%" 3'/L(%&-%/" %/"*.+&%)"

:'6W-(3.)K"3'*'"&%(-%&.+.*%/-%"R'`."P').&('"NF.&&.".5(&*.!"

D."'&J./(G.3(E/"6%)"+."H/")%/-(+'"+%"%2()-%/3(.K":%&'"-.*F(1/"6%)"J%/%&."H/."5H%&-%"

&H:-H&."3'/")H)"%)]H%*.)"+%"L(+.":&%2()-%/-%)!"i.&%3(%&."]H%")H"L(+."]H%+.&.K"%/".*F')"

3.)')K" +%6"*'*%/-'"+%" 6." +%).:.&(3(E/" [" +%" )H" :.&-(3(:.3(E/" %/" %6" T'*(-1" %/" .+%6./-%K"

+(L(+(+."%/"+')!"Y":%).&"+%"]H%")H)"*'-(L.3('/%)"5H%&./K"+%)+%")H":%&):%3-(L.K"La6(+.)"%"

(//%J'3(.F6%)"X["bH)-(5(3.+.)"+%)+%")H"6HJ.&"+%"*.+&%)CK"%2()-%"H/."/'-.F6%"-%/)(E/"["H/."

+%).:&'F.3(E/":'&":.&-%"+%")H)"*.&(+')"["+%")H)"'-&')"I(b')!",)"%)-."'-&.":.&-%"+%6"^I'J.&_"

6."]H%"]H%+.K"+%".6JH/."*./%&.K"+%).-%/+(+.K"'":'&"6'"*%/')".)W"%)"L(L(+'":'&")H"5.*(6(.!"

i'&" :.&-%" +%" )H)" I(b')" )%" :%&3(F%" 3(%&-'" &%:&'3I%" [" H/" \-.*F(1/" 3'*:&%/)(F6%9"

)%/-(*(%/-'"+%".F./+'/'"X%/":.6.F&.)"+%"6."I(b."+%"P%[/."]H%+.":6.)*.+'"%)-'4"^-.*F(1/"

-(%/%"'-&')"'3I'"I(b')"*a)_C!",)-'"%)"3'/-&.+(3-'&('"3'/"6.":%&3%:3(E/"+%"Y3%6."["P%[/.K"[."

]H%K"+%)+%")H":%&):%3-(L.K"*H3I.)"L%3%)"%66.)"+%b.&'/"+%).-%/+(+."6."Fc)]H%+."["6."6H3I."

:'&" .-%/+%&" )H"I'J.&4" I%".IW" %6" %-%&/'"+%)J.)-%!" V%" 3'/5(&*."H/." L%G"*a)"%6" 3'/)-./-%"

:.:%6" ).3&(5(3(.6" +%" *Hb%&K" *.+&%" [" %):')." +%6" ]H%" I.F6./" -./-'" D.J.&+%" X#<<8C" 3'*'"

T.6L%(&'"X=88AC!""

D." (/3'*:&%/)(E/" +%" )H)" %):')')K" 6.)" +(5%&%/3(.)" %/" -'&/'" ." 6." 3'/3%:3(E/" +%" 6."

.3-(L(+.+" :'6W-(3." +%" )H)" I(b.)" [" .6" 3E*'" )%" %2:6(3./" [K" I.)-." 3(%&-." 5'&*.K" bH)-(5(3./" )H"

+%).:.&(3(E/K" [" )H" (/)()-%/3(." %/" -&.-.&" +%" :%&)H.+(&6.)" :.&." +%b.&" +%" FH)3.&6.)K" )'/" 6')"

+%-'/.+'&%)"+%"6."+()-./3(.K"+%"6.)"+()3H)('/%)"["6.)"+(L()('/%)".6" (/-%&('&"+%"6."5.*(6(.!",6"

+'6'&"+%"%)-.)"+')"*.+&%)"["6'"]H%"+%"6.".H)%/3(."+%")H)"I(b.)"9%-%&/.*%/-%":&%)%/-%)9")%"

201

3'/)-&H[%":.&." %66.)K" /'":H%+%" )%&" 3'*:.&-(+'"%/" )H":&':('"I'J.&" [" ]H%+."%236H(+'"+%"

1)-%!" D'" ]H%" )%" 6'J&E" I.3%&" I.3(." .5H%&.K" %)" +%3(&K" %6" I%3I'" +%" :'+%&" I.F6.&" +%" 6."

+%).:.&(3(E/K"+%")H)"L(L%/3(.)K"+%".:.6.F&.&"["+%"/'*F&.&"%).":1&+(+.K"/'")%":H%+%"I.3%&"

I.3(." %6" (/-%&('&" +%" 6." 5.*(6(.4" )%" LH%6L%" %236H)(L'" +%" %)%" '-&'" *H/+'" +%" )%/-(+')"

3'*:.&-(+')"]H%"%/3H%/-&./"%/"o,H&%p.qK"La6LH6."+%"%)3.:%"+%6"+%)J.)-%"3'-(+(./'!"

D." )%/).3(E/" +%" +(L()(E/" %)" (//%J.F6%!" V(/" %*F.&J'K" I.[" H/" 5.3-'&" ]H%" 6(J." ["

*./-(%/%" .*F')" *H/+')" 3'/%3-.+')4" 6." *.-%&/(+.+!" �)-." 5H/3('/." 3'*'" %6" %6%*%/-'"

.&-(3H6.+'&" %/-&%" )H)" 3'/-%2-')" (/+(L(+H.6%)" [" )H" /H%L." 5'&*."+%" L(+." 3'*'" 6H3I.+'&.)"

)'3(.6%)!"P%[/."["Y3%6.")'/"[")%JH(&a/")(%/+'"*.+&%)"[K"3'*'"-.6%)K")(%*:&%"L%&a/":'&")H)"

I(b')>":'&"-'+')"["3.+."H/'"+%"%66')!",/"%)-%")%/-(+'")(JH%/")(%/+'"%66.)K".]H%66.)"*Hb%&%)"

+%" 3'*H/(+.+%)"+%"Q.2.3." ["0(3I'.3a/K" 6.)" ]H%"+%)+%":%]H%`.)" )%" L()H.6(G.F./"%/"%6"

5H-H&'" 3'*'" *.+&%)!" V(JH%/" &%):'/+(%/+'" ." H/" *./+.-'" /.-H&.6K" F('6EJ(3'" [" 3H6-H&.6!"

i%&'K" %/" %)-%" 3.*(/'K" ]H%" &%]H(%&%" H/" L.6'&" [" :%&)%L%&./3(." ]H%" %66.)K" 3'*'" :'3')K"

:')%%/K"3'*'".3-'&%)")'3(.6%)K"+H%`')"+%")H)":&':(.)"L(+.)"["+%3()('/%)"X["/'")E6'"3'*'"

*.+&%)CK"%/3H%/-&./"'-&.)" 5'&*.)"%)-.&"%/"%6"*H/+'"]H%" 6%)"I.3%")%/-(+'"[" 6.)".[H+."."

-&.)J&%+(&"6W*(-%)"]H%K"%/"'-&.)"3(&3H/)-./3(.)K"/'")%"IHF(%&./".-&%L(+'"."-&.)J&%+(&!"

"

T.F%"*%/3('/.&)%"%6"I%3I'"+%"I.F%&)%"(+%/-(5(3.+'"H/"36.&'"+%b'"+%"/')-.6J(."["+%)(6H)(E/"

%/"6.)"%/-&%L()-.)".6"I.F6.&"+%"6."'&J./(G.3(E/"%/"6.".3-H.6(+.+d"%)-'"&%5H%&G.".]H%66'"]H%"

T.-%6." %/3'/-&E" %/" 3H./-'" ." 6.)" +(5%&%/3(.)" (/-%&J%/%&.3('/.6%)" %/" 6.)" /.&&.-(L.)4" 6')"

&%6.-')"+%"%)-.)"+')"*.+&%)"*.&3.&'/"-.*F(1/"^H/."%):%3(%"+%"k(+%.6(G.3(E/"+%6":.).+'lK"

/'"%/" -1&*(/')":'6W-(3')" [" )'3(.6%)K" )(/'"%/" &%6.3(E/"." 6.":'-%/3(."+%" )H)" 6H3I.)K"]H%" )%"

3'/-&.:'/%"."H/." )%&(%"+%"+%)(6H)('/%)":')-%&('&%)" &%):%3-'" ." 6." '&J./(G.3(E/!_" XT.-%6.K"

=8884" ?=C" Y6" *()*'" -(%*:'K" )%" (+%/-(5(3." -.*F(1/" H/." )H%&-%" +%" (+%.6(G.3(E/" %/" 6.)"

J%/%&.3('/%)":&%)%/-%)"#X6'"(/L%&)'"."6'"]H%")H%6%":.).&"3'/"6')"bEL%/%)"["6."J%/%&.3(E/"+%"

)H)" :.+&%)K" ]H%" *%/3('/." -.*F(1/" T.-%6.C!" D." .:H%)-." +%" %)-.)" *Hb%&%)" %)-a" %/" 6."

'&J./(G.3(E/"m!N!n!Q!V!"["%/"%66."L%/"H/"+%)-(/'"+()-(/-'" X3'/"*a)" 5H-H&'C".6"+%")H":&':(."

'&J./(G.3(E/!"

202

,/"Y(3%6.K" %/" 3.*F('K" :%&-%/%3(%/-%" ." 6." J%/%&.3(E/" ]H%" 3'*:.&-(E" L(L%/3(.)" +%"

1:'3." 3'/" )H"I%&*./'"+%).:.&%3(+'K"*H3I'"+%" )H"+()3H&)'" )W" %)-HL'"+%+(3.+'"%/" J&./"

*%+(+.K"3'*'"*%/3('/."T.-%6.K"."H/."^*(&.+."3&W-(3.")'F&%"%6":.).+'_"XT.-%6.K"=8884"?=CK"

%/"6.)":1&+(+.)"["%/"6.")(-H.3(E/"+%"*(%+'"["&%:&%)(E/"]H%"L(L(E"%66."%/"3.&/%"L(L.!"

""

,6"3'/-%2-'"+%"Y(3%6."-(%/%"3').)"%/"3'*c/K":%&'"-.*F(1/"3'/-&.)-." 5H%&-%*%/-%"3'/"%6"

+%"P%[/." ["Y3%6.!" VH" L(+."+%"%)-H+(./-%":'6W-(3.*%/-%".3-(L."/'"%)"H/".3-'"+%" &%F%6+W."

+%).&-(3H6.+'" +%" )H" %/-'&/'" 5.*(6(.&!" ,/" :&(*%&" 6HJ.&K" %66." +%)-.3." [" &%3'/'3%"

3'/)-./-%*%/-%" ." 6'" 6.&J'" +%" )H" /.&&.-(L." 6')" L.6'&%)" (/3H63.+')" :'&" )H" 5.*(6(.K"

:&(/3(:.6*%/-%"%6"+%"6.")'6(+.&(+.+"["%6")%/-(+'"+%"3'*H/(+.+!",)-')"L.6'&%)":%&*./%3%/"

':%&./+'"."6'"6.&J'"+%")H"L(+.K":'/(1/+')%"%/":&(*%&"6HJ.&"%/":&a3-(3."["&%5'&Ga/+')%".6"

66%J.&"."6."3.)."+%"%)-H+(./-%)!"i'&")H"3%&3./W."."6')"*'L(*(%/-')")'3(.6%)"3'/"6')"]H%"-HL'"

3'/-.3-'" +%)+%" :%]H%`." %/" )H" :H%F6'K" [" :'&" 6'" ]H%" )H" I%&*./'" y.6%/-W/" 6%" :H+'"

-&./)*(-(&"*a)"-.&+%"."%66."[".")H"5.*(6(.K")%"5'&bE"%/"Y(3%6."9%/")H)":.6.F&.)9"H/.":')-H&."

^:&'J&%)()-._" 36.&." [" H/." ^3'/3(%/3(." +%" 6." :&'F6%*a-(3." )'3(.6_K" ]H%" )(%*:&%" 6."

3.&.3-%&(G.&'/" X[" ]H%" %66." %/5.-(G." %/" )H" .H-'9+%)3&(:3(E/C!" ,)-%" *H/+'" +%" L(+." %)"

3'/J&H%/-%"3'/")H":')-%&('&"L(+."+%"%)-H+(./-%":'6W-(3.*%/-%".3-(L.!"

Y6"*'*%/-'"+%"6."+%).:.&(3(E/"+%")H"I%&*./'":.).".6J'"+()-(/-'"."6'"]H%")H3%+%"

3'/" P%[/." [" Y3%6.!" iH%+%" +%3(&)%" ]H%" %/" %66.)" %)-%" %L%/-'" +%-'/E" [" 66%LEK" ." &.WG" +%" 6."

Fc)]H%+.K" ." H/." 5'&*." +%" *(6(-./3(." :'6W-(3." ]H%" *a)" -.&+%" )%" LH%6L%" :.&-%" +%" 6."

3'-(+(./(+.+!" ,/" Y(3%6." )(J/(5(3EK" ./-%" )H)" ./-%3%+%/-%)" +%" %)-H+(./-%" :'6W-(3.*%/-%"

:.&-(3(:.-(L." [" .3-(L.K" H/." :.H).!" ,/" H/" :&(*%&"*'*%/-'K" %)-%" %L%/-'K"*a)" ]H%" .3-H.&"

3'*'"+%-'/./-%K".3-HE"3'*'":.&.6(G.+'&!"|"IHF'K"%/"3(%&-'")%/-(+'K"H/":&'3%)'"(/L%&)'".6"

+%"P%[/."["Y3%6.4"%/"6HJ.&"+%"3'/L%&-(&)%"6."Fc)]H%+."(/+(L(+H.6"%/":')-%&('&%)"Fc)]H%+."

[" +%*./+." 3'6%3-(L.)" 9[" %/" H/." 5'&*." +%"*(6(-./3(." :'6W-(3.9" K" 6'" ]H%" )H3%+%" %)" ]H%" 6."

.3-(L(+.+":'6W-(3.")%"(/-%&&H*:%d"[K"*a)".+%6./-%K"Y(3%6.")%"L."&%(/3'&:'&./+'".".33('/%)"["

6H3I.)"+%" 3'*:.`%&')"%)-H+(./-%)"]H%K"%/-&%" )H)"+%*./+.)K"%2(JW./" 6.":&%)%/-.3(E/"+%"

6')"+%).:.&%3(+')d"%/-&%"%66')K")H"I%&*./'" (/36H(+'!"i'&" 6'"-./-'K"%&.":.&-W3(:%K":&(*%&'K"

203

+%" H/." 6H3I." +%" +%*./+." 3'6%3-(L." ]H%K" 3'/" %6" -(%*:'K" 5H%" I.3(%/+'" :&':(." [" 5H%"

)(J/(5(3./+'K"-.*F(1/K"3'*'":.&-%"+%"H/.":1&+(+."["H/"+'6'&"(/+(L(+H.6%)!"

m.[K"%/"Y(3%6.K"H/"*'*%/-'"36.L%"%/"%6"]H%")H"L(+.")%"L%"%)3(/+(+.K"-.6"3'*'"%/"%6"

3.)'" +%" P%[/." [" Y3%6.d" 3H&(').*%/-%" -.*F(1/" )%" .)'3(." 3'/" %6" 5%/E*%/'" +%" 6."

*.-%&/(+.+!" ,)" +H&./-%" H/" 6.&J'" :%&('+'" +%" )H" L(+." %/" %6" ]H%" (/-%/-.K" :'&" -'+')" 6')"

*%+(')K" )%&"*.+&%" \)(/" 12(-'9" ]H%" +%b." +%" 6.+'" 3H.6]H(%&" -(:'" +%" :.&-(3(:.3(E/" :'6W-(3.!"

,)-.".H)%/3(." 6%"J%/%&."H/"J&./"L.3W'"["*H3I."3H6:.K"*()*."]H%")%"L%"%2(*(+."I.)-."%6"

*'*%/-'" %/" ]H%" &%)-.F6%3%" %6" 3'/-.3-'" 3'/" %6" T'*(-1" o,H&%p.q!" i.&." Y(3%6.K" )H"

(/-%J&.3(E/" ." %)-%" 3'*(-1" /'" -HL'" 5(/%)" (/)-&H*%/-.6%)!" ,)" +%3(&4" *a)" ]H%" :.&." FH)3.&"

5W)(3.*%/-%".")H"I%&*./'"93'*'":.)E"3'/"P%[/."["Y3%6."3'/")H)"I(b.)9K"Y(3%6."FH)3."H/"

%):.3('"+%"&%)()-%/3(.K"H/"6HJ.&":.&."3'/-(/H.&"3'/"6."6H3I.":'&"-'+')"6')"+%).:.&%3(+')"["

%2(J(&" bH)-(3(.!" ,)" +%3(&K" )H" .+I%)(E/" .6" T'*(-1" (*:6(3." H/." 3'/)%3H%/3(." 6EJ(3.K" H/."

&%(/-%J&.3(E/"["3'/3(6(.3(E/"+%"H/."L(+.":.).+."]H%"6%"+.")%/-(+'"["3'I%&%/3(.".")H"%)-.&"

%/"%6"*H/+'!"VH":.&-(3(:.3(E/"%/"%6"T'*(-1" -(%/%"H/." 5H/3(E/" (/-%J&.+'&."[" &%:.&.+'&.!"

0a)"]H%":.&-(&")H"L(+.K" 6."&%(/-%J&.!"D'J&.K".":.&-(&"%66.K".&-(3H6.&"["&%3'/3(6(.&" 5'&*.)"+%"

:%/).&" [" :')-H&.)" :&':(.)K" 3'/" +'6'&%)" [" .H)%/3(.)" -.*F(1/" L(J%/-%)" ]H%" :H%+%/" )%&"

/'*F&.+')K"%)3H3I.+')K"3'*:&%/+(+')"["3'*:.&-(+')"%/"3'6%3-(L'!""

i%)%"."]H%K"3'*'"3'/36H[%"0.(%&K"+%".6JH/."*./%&.":H%+."(/-%&:&%-.&)%"]H%"%)-.)"

*Hb%&%)K".6" )%&"^3H%&:'":.&."'-&')_" "["%/3.&/.&".)W" 6.)"3.&.3-%&W)-(3.)"+%" 6."*"+),-$(-"K"

)(JH%/"'3H:./+'"H/"%):.3('")'3(.6")HF'&+(/.+'"]H%"/'"66%J."."+%).-.&)%"+%6"-'+'"9".":%).&"

+%"-&./)J&%+(&"["'3H:.&"/H%L')"%):.3(')"%/"6."%)5%&.":cF6(3.9K":'+%*')"+%3(&"]H%"/'"+%b./"

+%" %2()-(&" %/" %)-.)" ^/'" +%).-.+H&.)_" '-&.)" 5'&*.)" +%" &%)()-%/3(.)" *a)" L%6.+.)!" iH%+%"

&%-'*.&)%" %/" %)-%" )%/-(+'" 6'" ]H%" T.6L%(&'" 3'/36H[%" +%" )H" (/L%)-(J.3(E/" 3'/" 5.*(6(.)"

*%2(3./.)4"%/"%)-%"36.&'":.:%6"3'/5&'/-.-(L'K"%)-%"6HJ.&"+%":'+%&K"+%"6H3I."+%"%)-.)"-&%)"

*Hb%&%)K"%2()-(&a/"'-&.)"5'&*.)"+%")H*()(E/"(*:6(3.+.)"["]H%"/'"-%&*(/.&a/"+%"+%).-.&)%!"

V(/"%*F.&J'K":.)."6'"*()*'"%/"%6")%/-(+'"(/L%&)'4".IW"+'/+%":H%+%"bHJ.&)%"H/"^%L(+%/-%_"

:.:%6" +%" )H*()(E/" %/" 6." 5.*(6(.K" :H%+%/" %/*.)3.&.&)%" -.*F(1/" '-&.)" 5'&*.)" +%"

&%)()-%/3(.>"

204

D'"]H%K"+%"/(/JH/."*./%&.":H%+%"/%J.&)%K"%)"]H%"%)-.)"*Hb%&%)"&%:&%)%/-%/"H/"

6HJ.&"+%"%-%&/."[":%&)()-%/-%"&%)()-%/3(."%/"L.&(')"/(L%6%)"["%/"*a)"+%"H/"%):.3('4"-./-'"%/"

)H":&':('"I'J.&"[")H)"3W&3H6')")'3(.6%)"*a)"3%&3./')K"3'*'"%/"%6"%):.3('":cF6(3'!"V'F&%"

-'+'K"6'"]H%"3&%'"]H%"%)"/%3%).&('"+%)-.3.&K"%)")H":.:%6"%b%*:6.&"+%"6H3I.K"3'/)-&H3-'&."

+%"*%*'&(." +%" 6." I()-'&(." +%" %)-%" :.W)K" ]H%" +()H%6L%" +(3'-'*W.)K" +(L()('/%)" [" 5&'/-%&.)"

%/-&%"6'".5%3-(L'"["6'"&.3('/.6K"%/-&%"6'".5%3-(L'"["6'":'6W-(3'K"%/-&%"6'")HFb%-(L'"["6'")'3(.6K"

6'"(/+(L(+H.6"["6'"3'6%3-(L'K"6'":cF6(3'"["6'":&(L.+'>"

"

T'*'" F(%/" )%" *%/3('/E" .6" (/(3('" +%" %)-%" -&.F.b'K" %)-%" -%*." %)" L(J%/-%" %/" *a)" +%" H/"

)%/-(+'"["%)"(/*%/)'"%/":')(F(6(+.+%)"+%"5H-H&')"-&.F.b')"+%"(/L%)-(J.3(E/!"T'*'"%/"-'+'"

-&.F.b'" +%" %)-." W/+'6%K" 3'/" :.&-(3H6.&%)" 6W*(-%)" %):.3('-%*:'&.6%)K" )%" +%b.&'/" *H3I.)"

L%-.)" :'&" %2:6'&.&" ]H%" /'" :H+(%&'/" )%&" .F'&+.+.)!" D." &%.6(+.+" +%" 6." &%:&%)(E/" [" +%" 6.)"

+%).:.&(3('/%)"5'&G.+.)"LH%6L%K"+%)J&.3(.+.*%/-%K".".+]H(&(&"5H%&G."["/H%L')")(J/(5(3.+')"

I'["%/"+W.!"i'&"%)-'"*()*'"3&%'"]H%"H/"%)-H+('"\3'*'":&%-%/+%")%&"%)-."-%)()9"+%"I%3I')"

+%6":.).+'"&%3(%/-%K"]H%")'/":.&-%" (//%J.F6%"+%"/H%)-&."I()-'&(."["+%"/H%)-&'":&%)%/-%K"

:H%+%"+.&" 3(%&-." 6HG":.&." -&.F.b.&":&%3().*%/-%"3'/" 6.)"/H%L.)" )(-H.3('/%)"[" 6.)"/H%L.)"

+%).:.&(3('/%)" "[" &%.6(+.+%)":'6W-(3.)"[")'3(.6%)"]H%")%"I./"L%/(+'"+./+'"%/" 6')"c6-(*')"

.`')!""

"

i(%/)'" ]H%" H/'" +%" 6')" 6W*(-%)" +%" %)-." (/L%)-(J.3(E/" %)" %6" I%3I'" +%" /'" I.F%&" (/36H(+'"

%/-&%L()-.)" 3'/" 6')" +%*a)" *(%*F&')" +%" 6." 5.*(6(." +%" %)-.)" *Hb%&%)!" ,)-'" :H+'" I.F%&"

J%/%&.+'"H/."6%3-H&."XH/."%)3&(-H&.C"+%"3(%&-."*./%&.":.&3(.6"["*'/'5E/(3."[K"I.)-."3(%&-'"

:H/-'K"-%/+%/3(').!"V("F(%/"%&.":&(*'&+(.6"%6"+.&6%" 6HJ.&"." 6.)"L'3%)"+%"%)-.)"*Hb%&%)"%/"

:.&-(3H6.&K" 3&%'"]H%" (/36H(&"'-&')" -%)-(*'/(')K"'-&.)":%&):%3-(L.)K":H+'"I.F%&".[H+.+'"."

+.&" 3(%&-'" 3'/-&.:%)'" X'-&.)" L'3%)C" ." 6')" +()3H&)')" ]H%" :&%+'*(/.&'/" %/" %6" -%2-'!" VE6'"

:H+'"I.3%&)%"H/."%/-&%L()-."3'/"H/."+%"6.)"I(b.)"+%"P%[/.K":%&'K"3'*'":'&"3H%)-('/%)"+%"

-(%*:'"/'":H+'"I.3%&)%" 6'"*()*'"3'/"5.*(6(.&%)"+%" 6.)"+%*a)"%/-&%L()-.+.)K"+%3(+(E"/'"

(/36H(&)%" 6." %/-&%L()-." +%" *./%&." 5'&*.6" X3'*'" :.&-%" +%6" 3H%&:'" +%" 5H%/-%)" +(&%3-.)Cd"

c/(3.*%/-%")%"I(G'".6H)(E/"."6."(/5'&*.3(E/"'F-%/(+."%/".6JH/.)"+%"6.)"3'/36H)('/%)!"Y)WK"

205

6')"+()3H&)')"["6.":%&):%3-(L."+%"'-&'"(/-%J&./-%)K"3'*'":'&"%b%*:6'K"+%"6')":.+&%)"+%"6.)"

+%).:.&%3(+.)K" ]H%" ." L%3%)" .:.&%3%/K" +%)+%" %6" +()3H&)'" +%" 6.)" %/-&%L()-.+.)K" 3'*'"

^%/%*(J')" (/-%&/')_" .6" (/-%&('&" +%" )H)" 5.*(6(.)K" /'" %)-a/":&%)%/-%)!" ,)-'" :H%+%" 66%L.&" ."

+(&(J(&".6"6%3-'&"."H/."(/-%&:&%-.3(E/"+%".6JH/."*./%&."(/3&(*(/.+'&."[":.&3(.6K"[":H%+%")%&"

+%6(3.+'!" T.F&W." I.3%&" I(/3.:(1" %/" ]H%" /'" )%" :&%-%/+(E" ).-./(G.&" 6." 5(JH&." *.)3H6(/.d"

/H/3.")%".5(&*."]H%"5H%&.".6J'"]H%"%66')"IHF(%&./":&'L'3.+'"'"]H%&(+'":.&.")H)"I(b.)"X%/"

%6" 3.)'" +%" 6')" *.&(+')" +%" Y(3%6." [" P%[/.C!" V%" .)'*." %/" %6" +()3H&)'" +%" %)-.)" *Hb%&%)"

-.*F(1/"H/"+'6'&"["H/."%L(+%/-%"+%)%):%&.3(E/"%"(*:'-%/3(.":'&":.&-%"+%")H)"*.&(+')!"D'"

]H%":'+%*')"./.6(G.&"%)"%6"3E*'"%66.)")%":&%)%/-./".")W"*()*.)"%/"&%6.3(E/".")H)"%):')')!"

,6"+()3H&)'"]H%"."L%3%)"6')"(/3&(*(/."XP%[/.C"'""."L%3%)"6')"bH)-(5(3."XY3%6.C":H%+%")%&":.&-%"

+%" 6."*()*." (/-&'[%33(E/"+%6" -%&&'&K"'"F(%/"+%" 6')"*()*')"%b%&3(3(')"+%")HF'&+(/.3(E/"'"

&%)()-%/3(." ]H%" )%" :'/%/" %/" bH%J'!" V%" -&.-." .]HW" c/(3.*%/-%" +%" H/"*%-.9+()3H&)'" ]H%"

:'+&W."./.6(G.&)%"X+%6"+()3H&)'"\+%"%66.)9")'F&%"+()3H&)'"\+%"%66')CK"["I.F&W."]H%")%:.&.&6'"

+%"H/." (/-%&:&%-.3(E/":&':(.*%/-%"I%3I."+%6"+()3H&)'"+%"%66')!"O'":'+%*')"I.3%&"%)-'"

c6-(*'" )(" /'" -%/%*')" )H" L%&)(E/!" VE6'" :'+%*')" I.F6.&" +%" 3E*'" %66.)" I./" L(L(+'" ["

)(J/(5(3.+'"6."&%6.3(E/"3'/")H":.&%b."%/"%)-%":&'3%)'"+%"+H%6'K"Fc)]H%+."[":.&-(3(:.3(E/!"

V'/"%66.)"6.)"]H%":'/%/".")H)"*.&(+')"%/"%)-%"6HJ.&"+%":'+%&!"T'*'"F(%/"+(3%"T.6L%(&'4"%6"

+()3H&)'" +%" 6." *.+&%K" +%" 6." %):').K" +%" 6." *Hb%&K" -(%/+%" ." %/5.-(G.&" %)-." &%6.3(E/" +%"

)H5&(*(%/-'!" Y6" %/3'/-&.&K" .+%*a)K" H/" %):.3('" %/" +'/+%" L.&(.)" L(L%/" +()3H&)')"

)%*%b./-%)K" :H%+%".)%/-.&)%"%)-%"+()3H&)'" (/3&(*(/.+'&"I.3(." %6" %):')'K" -.*F(1/" 3'*'"

5'&*."+%"bH)-(5(3.&")H".3-H.&"%/"3'6%3-(L'"["3'*'"5'&*."+%"&%)()-%/3(.!"

,/" %)-%" )%/-(+'" %)" ]H%" &%)H6-.&W."*H[" &(3'" %/" 5H-H&')" -&.F.b')" %2:6'&.&" 3E*'" )%"

L(L%"6.")(-H.3(E/"+%"6."+%).:.&(3(E/"%/"%6"&%)-'"+%"6."5.*(6(.K"%/".]H%66')"/'"+(&%3-.*%/-%"

L(/3H6.+')" ." 6.)" '&J./(G.3('/%)d" 3'/'3%&" 3E*'" L(L%/" %66')" -./-'" 6." +%).:.&(3(E/" +%" H/"

5.*(6(.&K" 3'*'" 6." :.&-(3(:.3(E/" +%" '-&'" +%" )H)" 5.*(6(.&%)" %/" 6." '&J./(G.3(E/" :'6W-(3.d"

3'*:&%/+%&"%6":'&]H1"+%")H":&':('"+%)6(/+%"+%6"3'*(-1"["+%")H"/'":.&-(3(:.3(E/":'6W-(3.!"

T'*'" -.*F(1/" )%" *%/3('/E" %/" 6." (/-&'+H33(E/K" )'/" *H3I')" *a)" 6')" 5.*(6(.&%)" +%"

+%).:.&%3(+')" :'6W-(3')" ]H%K" :'&" *H3I.)" 3(&3H/)-./3(.)" [" &.G'/%)K" /'" 5'&*./" :.&-%" +%"

'&J./(G.3('/%)" )'3(.6%)4" %6"*(%+'K" 6." &%:&%)(E/K" .*%/.G.)K" 6.)" (*:')(F(6(+.+%)" 6'JW)-(3.)K"

206

%3'/E*(3.)K" 5W)(3.)K" J%'J&a5(3.)K" %6" " +%)3'/'3(*(%/-'K" %6" " .()6.*(%/-'K" %-3!K" )'/" H/.)" +%"

%66.)!"i(%/)'"]H%"1)-.":'+&W.")%&"H/."6W/%."(/-%&%)./-%"."%2:6'&.&"%/":')-%&('&%)"-&.F.b')!"

,/":&(*%&" 6HJ.&K":.&."3'/'3%&":&%3().*%/-%"%)-.)"3(&3H/)-./3(.)"]H%"I.3%/"]H%"H/')")%"

'&J./(3%/"["'-&')"/'!"|K"%/")%JH/+'"6HJ.&K":.&.").F%&"]H1"%)"6'"]H%":.)."3'/"%)-.)"5.*(6(.)"

]H%" /'" 3H%/-./" 3'/" %)-')" %):.3(')" ]H%K" 3'*'" L(*')" %/" %)-%" -&.F.b'K" &%:&%)%/-./" H/"

)H)-%/-'" [" H/"*%+('" 5H/+.*%/-.6" :.&." )'F&%66%L.&" 6." 3&H+." &%.6(+.+" +%" 6." +%).:.&(3(E/"

:'6W-(3.!""

"

T'/)(+%&'"]H%"'-&."+%"6.)"3.&%/3(.)"+%"%)-%"-&.F.b'")%"&%6.3('/."3'/"6."%-/'J&.5W.!"V("F(%/"

)%" .3'*:.`E"." %)-.)"*Hb%&%)" ." .6JH/.)" .33('/%)" [" &%H/('/%)" [" )%"I(G'"'F)%&L.3('/%)" ["

+%)3&(:3('/%)"%-/'J&a5(3.)"]H%")(/"+H+."(/56H[%&'/"["5H%&'/"H/."+%"6.)"F.)%)"+%6"./a6()()K"

1)-.)"/'")%"(/-%J&.&'/"5'&*.6*%/-%"%/"%6"-&.F.b'!",)-'"IHF(%&."&%)H6-.+'"*H[":%&-(/%/-%"["

IHF(%&." :%&*(-(+'" +.&" H/" :./'&.*."*a)" %/&(]H%3%+'&" +%" %)-.)" I()-'&(.)K" .)W" 3'*'" H/"

:./'&.*."*a)"5(%6"+%6"-&.F.b'"&%.6(G.+'!"

"

D.":&%)%/-%"(/L%)-(J.3(E/"%)-HL'".3'-.+'.".")(-H.3('/%)"+%"+%).:.&(3(E/"%/"%6"R!h!K"%/"H/"

3'/-%2-'"H&F./'":.&-(3H6.&!"P%)H6-.&W."-.*F(1/"*H["(/-%&%)./-%"3'/'3%&"%)-."&%.6(+.+"%/"

'-&.)" 6.-(-H+%)" +%6" :.W)K" '-&')" %)-.+')" +%" 6." P%:cF6(3.K" %/" 3'/-%2-')" &H&.6%)!" ,)-'" )%"

:&%-%/+(E" I.3%&" %/" H/" :&(/3(:('" %/" %6" :&%)%/-%" -&.F.b'" X%/" 3'/3&%-'K" -&.F.b.&" 3'/"

5.*(6(.&%)" %/" ZH%&&%&'CK" :%&'K" -./-'" :'&" 3H%)-('/%)" +%" -(%*:')K" +%" 3'/-.3-')" [" +%"

)%JH&(+.+K"/'")%"66%LE"."3.F'!""

"

uH%+.&W.K":H%)K"*H3I'"-&.F.b'":'&"I.3%&"%/"'-&.)")(-H.3('/%)"%):.3('9-%*:'&.6%)"%/"%)-%"

:.W)K" %/" +'/+%K" +%).5'&-H/.+.*%/-%K" %/" -'+')" 6')" %)-.+')" [" %/" -'+')" 6')" -(%*:')" I."

I.F(+'"[")(JH%"I.F(%/+'"+%).:.&%3(+')>"[K":'&" -./-'K"*H3I.)" 5.*(6(.)"]H%"I./"L(L(+'"["

)(JH%/"L(L(%/+'"%)-."+'6'&')."&%.6(+.+!",6"(*:.3-'"["6."(/56H%/3(."]H%"%)-')"J&H:')":H%+./"

%)-.&"%b%&3(%/+'"%/" 6.)"/H%L.)")(-H.3('/%)"+%"+%).:.&(3('/%)K"%)"H/"3.*(/'"-.*F(1/":'&"

%2:6'&.&!"

"

207

V("F(%/".c/"]H%+."*H3I'":'&"I.3%&"%/"3H./-'"."6')":&'3%)')"+%"L%&+.+"["bH)-(3(."%/"%)-%"

:.W)" X/'" %2()-%/" /(" 3'*()('/%)" +%" L%&+.+K" 3'*'" -.6K" /(" I." I.F(+'" bH(3(')" '" 3.)-(J')"

)(J/(5(3.-(L')" [" &%.6%)" ." 6')" &%):'/).F6%)K" [" *H3I." J%/-%" )(JH%" )(/" ).F%&" ]H1" %)" H/"

+%).:.&%3(+'":'6W-(3'CK"["%6"3.*(/'")%"L()6H*F&."')3H&'"["3'/"%)3.).)"LW.)"-&./)(-.F6%)K")'/"

%)-')" .J%/-%)" )'3(.6%)" \3H[')" -%)-(*'/(')" %)3H3I.*')" %/" %)-%" -&.F.b'" [" ." ]H(%/%)" L."

+%+(3.+."%)-."-%)()9"3'/)-&H3-'&%)":&(*'&+(.6%)"+%"6."*%*'&(."I()-E&(3."+%"%)-%":.W)!"i'&"

6'"*()*'"%)"(*:'&-./-%"%)3H3I.&"[":&%)-.&".-%/3(E/".")H)"+()3H&)')K"]H%")'/K"-&()-%*%/-%"

&%:&%)%/-.-(L')"+%"6."&%.6(+.+"+%"*H3I.)"*a)"5.*(6(.)"+%"6'"]H%"]H()(1&.*')":%/).&!"

208

1!1/!)K(,L.,&

"YZSY|QK"V%&J('"=88=" !"#LA")(%"K"Z&(b.6F'K"012(3'!""YDDN,PK",HJ%/(."=88<" ^i&%)%/-%)9:.).+')"+%6"7;"*%2(3./'!"S/."I()-'&(G.3(E/"+%"6.)"*%*'&(.)":cF6(3.)"+%6""*'L(*(%/-'"%)-H+(./-(6"#<7;9=88?_?#%/#S,7.-&"#:,<.8"0"#+,#b(8.(%(4W"K"?#K"/H*!"="X.F&(69bH/(CK"SOY09NNVK"012(3'K"::!"=;?9@#?!""YDDQSTmK"n%./"=88#" 9)/&.8"#+,%#+5,%(#,0#,%#&.,*$(#+,#%"#*5,)&,#-,8"K",:%",6%K"012(3'!"""YP$,YZY"zQ$,DDQK"O%6)'/"["n(*%/."y.6+1)"h(JH%&'."=8#8" ^T'/-%2-')")'3('3H6-H&.6%)"+%"6')"5%*(/(3(+(')"%/"012(3'4"/H%L.)")HFb%-(L(+.+%)"5%*%/(/.)_K"%/"S,7.-&"#:,<.8"0"#+,#b(8.(%(4W"?#?=K"/H*!#"X%/%&'9*.&G'CK"SOY0[#NNVK"012(3'K"::!"A9@A!""YO$NDDUO"OYnNDNVK"x(*%/."=88;" !"#I,-"$").8./0#U()="+"#+,#S(-,0+(#S"+.%%"#,0#R&(C"8#+,#n%7"),=2#j0'()*,#+,#

R',8&"8./0#V-.8(-(8."%K"T0RiRmK"012(3'!""zYzTQvK"z%3p["X%+!C"#<;#" HI.-"$$,")"08,-K>#R#�()N6((N2K"OH%L."|'&pK"Y*/%)-["N/-%&/.-('/.6K"SVY!""zYVYZDNYK"h&./3."Q"["R'&."v./'H))("#<;=" :5D,)?#!(85)"#C#b(8.,+"+K",+!"V'*')K"012(3'!""zYSYzK"Y+&(./."=88#" !(-#&.,*$(-#+,%#+5,%(K"m'*'"V.:(%/)",+(3('/%)K"zH%/')"Y(&%)!""zDS0,PK"m%&F%&-"#<;=" j0&,)"88.(0.-*(#b.*6/%.8(>#V,)-$,8&.7"#C#*;&(+(?"m'&.K"z.&3%6'/.!""zQSPRN,SK"i(%&&%"["D'â3"n!"R!"j.3]H./-"#<<A" S,-$5,-&"-2#V()#50"#R0&)($(%(4W"#S,'%,<.7"K"Z&(b.6F'K"012(3'!""zQSPRN,SK"i(%&&%K"n%./9T6.H+%"TI.*F'+%&'/"["n%./9T6.H+%"i.))%&'/"#<?A" 9%#('.8.(#+,%#-(8./%(4(?"V(J6'"xxNK"zH%/')"Y(&%)!""TYnYVK"nH./"

209

=88<" !(-#I,-7."+(-2# L")&(4)"'W"# 5)6"0"# C# 8).*.0"%.="8./0# +,# %"# 7.+"# 8(&.+."0"?#i'&&c.K"012(3'!""TYDDQONK"V-%66."=88#"" V%"0#L/0+()>#V"8&(#8).*.0"%!"=ä"%+!K"D."n'&/.+.K"012(3'!""TYDy,NPQK"i(6.&"=88#" V(+,)#C#+,-"$").8./02#!(-#8"*$(-#+,#8(08,0&)"8./0#,0#R)4,0&.0"K"T'6(IH1K"zH%/')"Y(&%)!"=88A" U"*.%."#C#V(+,)?#D(F&')"+%"6."Y&.H3.&(.K"zH%/')"Y(&%)!""TYV$,DDYOQVK"D.H&."=88?" :;<.8(#R)*"+(2#Fi`Z[FigF?#,+(3('/%)",&.K"012(3'!""TYV$NDDQ"$PQOTQVQK"Y6F%&-'"+%6"=88B" ^h'-':%&('+()*'" [" &%:&%)%/-.3('/%)" +%6"*'L(*(%/-'" %)-H+(./-(6" +%" #<7;!" ,6" 3.)'"+%"9%#@,)"%+(#+,#:;<.8(_K"%/"b,85,08."K"78K")%:-(%*F&%9+(3(%*F&%K"OH%L."�:'3.K"::!#@?9"#?=!""TY$,DYK"DH+*(6."R."V(6L."=888" ^R%" %)'" /'" )%" I.F6.!" TH%)-('/%)"*%-'+'6EJ(3.)" )'F&%" 6')" 6W*(-%)" [" %6" )(6%/3('" %/"%/-&%L()-.)" ." 5.*(6(.&%)" +%"+%).:.&%3(+')" :'6W-(3')_K" %/"@.-&()."?# R0&)($(%(4W"# C# U5,0&,-#q)"%,-K"OH*!"=BK"z.&3%6'/.K"::!"7<9?A!""=88=" \(#A"6)Y#'%(),-#,0#%"#&5*6"#+,%#$"-"+(K"Y6"0.&J%/K"D."i6.-.!""TYÄ�VK"R./(%6"#<<@" L)/0.8"#FimgK"i6.G."y.6+1)K"012(3'!""TQSDQOK"Y6.(/""#<;;" !"#,&0(*,&(+(%(4W"K",+(3('/%)"Ta-%+&.K"0.+&(+!""TS,V$YK"n')1"=88?" PR# +/0+,# 7"0# %(-# +,-"$"),8.+(-T># &,-&.*(0.(# +,# 50# -(6),7.7.,0&,# +,# %"#

+,-"$").8./0K"N/-%&*%+('K"z'J'-a!""RYZONOQK",L%6(/."=88A" ^0%./(/J)"'5"T(-(G%/)I(:"(/"D.-(/"Y*%&(3._K"%/"jIb#�()N.04#V"$,)#ÄEogK"N/)-(-H-%"'5"R%L%6':*%/-"V-H+(%)K"VH))%2!""R,"y,TTmN"Z,PDNK"0.&W."["DH3W."ZE*%G"DL'55"=88;" !"#R%).:.&(3(E/"h'&G.+."+%"i%&)'/.)4"P^0#+5,%(#.*$(-.6%,T#I(-#8"-(-#+,#A.D(-#+,#

+%).:.&%3(+')":'6W-(3')"*,<.8"0(-?#"SOY0K"012(3'!#""

210

RS$P�ON$"zN,DQSVK"V(6L(."["Z'/G.6'"y.&%6."i%-(-'"=887" 9-8%"),8.*.,0&(#+,%#$"-"+(#,#.0&,)7,08./0#+,#%"#D5-&.8."K"TDYTVQK#zH%/')"Y(&%)!"",OZ,DVK"h&(%+&(3I"#<;8" ^,6"Q&(J%/"+%"6."h.*(6(.K"6."i&':(%+.+"i&(L.+."["%6",)-.+'_K"%/"v.&6"0.&2"["h&(%+&(3I",/J%6)K""q6)"-#9-8(4.+"-?"",+(-'&(.6"i&'J&%)'K",+(3('/%)"+%"TH6-H&."i':H6.&K"0')3c!#",VTQzYPK"Y&-H&'K"V'/(.",!"r6L.&%G"[",L%6(/."R.J/(/'"X%+)C"=88#" V(%W&.8"#85%&5)"%#C#85%&5)"#$(%W&.8"K"N/)-(-H-'"T'6'*F(./'"+%"Y/-&':'6'JW."%"m()-'&(."["$.H&H)K"z'J'-a!""hNZS,PQY"NzYPPYK"T.&6')"#<<<" !(-#]5,#-.,*$),#,-&")Y0#,0#0.0450"#$")&,K"TNNRm9ZY0K"012(3'!""hNDTK"nH+(-I"#<<?" 90&),# ,%# $"),0&,-8(# C# %"# $(%W&.8"2# U"*.%."# C# +.8&"+5)"?# Fiem[FigZK" z(F6')K" zH%/')"Y(&%)!""ZYPTÅY"TYOTDNONK"O1)-'&"#<;;" L5%&5)"#&)"0-0"8.(0"%#C#85%&5)"-#$($5%"),-#B,+2#8(0#S2#S(08"4%.(%(3?"N:.6K"D(*.!""Z,PZ,OK"v%//%-I"n!"#<<7"" S,"%.+"+,-#C#),%"8.(0,-2#R$)(<.*"8.(0,-#"#%"#8(0-&)588./0#-(8."%K"i.(+E)K"z.&3%6'/.!""ZDQTvO,PK"h&(-G"=88?" L,*,0&,).(#+,#V"$,%?",+(3('/%)"zK"012(3'!""ZPY0VTNK"Y/-'/('"#<;8" \(&"-#-(6),#:"]5."7,%(?#-(6),#%"#$(%W&.8"#C#-(6),#,%#9-&"+(#*(+,)0(K",+(3('/%)""OH%L."y()(E/K"0.+&(+!""m,yNY"R,"DY"nYPYK"h%6(:%"=88<" ^P%6.3('/%)"")'3(%+.+9,)-.+'4""./a6()()"(/-%&.3-(L'":.&."H/."./-&':'6'JW."+%6"",)-.+'_"%/""9-$.)"%?#9-&5+.(-#-(6),#9-&"+(#C#b(8.,+"+?"y'6!"xy4"BA"K"0.['"M"YJ')-'!""mQDDYOR,PK"O./3["T!"=888" R*()#,0#%(-#&.,*$(-#+,%#(+.(>#$-.8(%(4W"#+,#%"#%.6,)"8./0#,0#R*;).8"#!"&.0"K""m'*'"V.:(%/)K"P').&('!"""n,DNOK",6(G.F%-I##=88=" !(-#G)"6"D(-#+,#%"#:,*()."K"V(J6'"xxNK"zH%/')"Y(&%)!""nQR,D,$K"R%/()%"

211

#<;;" ^D."&%:&%)%/-.3(E/")'3(.64"5%/E*%/'K"3'/3%:-'"["-%'&W._K"%/""V%&J%"0')3'L(3(K"V-.8(%(4W"#b(8."%#jj?",+(-'&(.6"i.(+E)K"z.&3%6'/.!""nQV,imK"Z(6F%&-"0!"["R./(%6"OHJ%/-"=88=" R-$,8&(-#L(&.+."0(-#+,#%"#U()*"8./0#+,%#9-&"+(K",+(3('/%)",&.K"012(3'!""vQPRQOK"R(./."["DH3(6.",+%6*./"#<<B" ^T'/5%&%/3(." )'F&%" 3'/)%3H%/3(.)" :)(3')'3(.6%)" +%" 6." &%:&%)(E/" :'6W-(3." ["6.(*:H/(+.+_K" %/" V[6L(."z%&*./",&# "%!K"9',8&(-# $-.8(-(8."%,-# +,# %"# ),$),-./0#$(%W&.8"2# b5-#-,85,%"-#,0#R%,*"0."?#R)4,0&.0"#C#^)545"C2#Z'%-I%\N/)-(-H-K"K"zH%/')"Y(&%)!"=88A." ^QF)%&L.3('/%)" )'F&%" 6')" %5%3-')" :)(3':.-'6EJ(3')" +%6" )(6%/3(.*(%/-'" )'3(.6"&%):%3-'"+%"6."%2()-%/3(."+%"+%).:.&%3(+')_K"%/"R(./."v'&+'/",&#"%!K"9',8&(-#$-.8(%/4.8(-#C#$-.8(-(8."%,-# +,# %"# ),$),-./0# $(%W&.8"# C# %"# .*$50.+"+2# I,# %"# I.8&"+5)"# "# %"# R8&5"%.+"+K"0.+&%)"+%"i6.G."+%"0.['K"zH%/')"Y(&%)!"=88AF" ^$&.H*." [" +H%6'!" T'/56(3-'" [" %6.F'&.3(E/_" %/" R(./." v'&+'/" ,&# "%!K" 9',8&(-#$-.8(%/4.8(-# C# $-.8(-(8."%,-# +,# %"# ),$),-./0#$(%W&.8"# C# %"# .*$50.+"+2#I,# %"#I.8&"+5)"#"# %"#

R8&5"%.+"+K"0.+&%)"+%"i6.G."+%"0.['K"zH%/')"Y(&%)!""DYZYPR,K"0.&3%6."#<<?" !(-#8"5&.7,).(-#+,#%"-#*5D,),->#*"+),-$(-"-?#*(0D"-?#$5&"-?#$),-"-#C#6'3.)K""SOY0K"012(3'!""D,zQOK"O.-I.6(%"[",6(G.F%-I"0.(%&"=887" I,#%(#$).7"+(#"#%(#$X6%.8(2#Zf#"J(-#+,#%58A"#8.5+"+"0"#+,#%"-#*5D,),-##

,0#R*;).8"#!"&.0"K"V!xxNK"SONh,0K"DYVYK"012(3'!""0YN,PK",6(G.F%-I"=88#" !"-#*"+),-#+,#%(-#+,-"$"),8.+(-#P50#05,7(#*.&(#*"&,)0(#,0#R*;).8"#!"&.0"T?"S/(L%&)(+.+"YH-E/'*."0%-&':'6(-./.K"012(3'!""0YP$ÅO,Ä"R,"DY",VTYD,PYK"Y/."0.&W."=88?" ^D.)"P'/+.)"+%"6.)"0.+&%)"+%"6."i6.G."+%"0.['_K"%/"Y/."0.&W."0.&-W/%G"+%"6.",)3.6%&."X3''&+!CK"9-&)"&,4."-#+,#),-.-&,08."K"SOY09iS,ZK"012(3'!""0NPYORY"PY0ÅP,ÄK"Y&-H&'"=887" !"#_.(%"8./0#+,#%(-#I,),8A(-#@5*"0(-#,0#,%#9-&"+(#+,#d5,)),)(#I5)"0&,#%"#d5,))"#

b58."2#^0"#A,).+"#0(#),-&"J"+"?"S/(L%&)(+.+"YH-E/'*."+%"ZH%&&%&'K"TI(6:./3(J'K"ZH%&&%&'!""0Q,OK"iI[66()"[",6.(/%"j%-I(/J-'/"#<<=" ^$I%"T'/3%:-"'5"h.*(6["Y+.:-(L%"V-&.-%J(%)_K"%/"R005"%#S,7.,}#('#b(8.(%(4CK"y'6!"#;K"::!"=@@9=A#!""0QmYO$|K"TI./+&."

212

=88@" U,*.0.-*#}.&A(5&#6()+,)-2#I,8(%(0.=.04#GA,()C2#V)"8&.8.04#b(%.+").&CK"RHp%""S/(L%&)(-["i&%))K"RH&I.*!""0QO$,0Y|QPK"T.&6')"#<<<" !"#45,)).%%"#),85)),0&,K"S/(L%&)(+.+"YH-E/'*."+%"T(H+.+"nHa&%GK"012(3'!"=8#8" !"#_.(%,08."#+,#9-&"+(#,0#:;<.8(2#R0&,-#C#+,-$5;-#+,#FimgK"R%F.-%K"012(3'!"=88<"Ñ#<<#Ö" d5,))"#,0#,%#V")"W-(K"R%F'6)(66'K"012(3'!""iNã,|PQK"n')1"DH()"=887" ^D.)"5H%&G.)".&*.+.)"["6."JH%&&(66."&H&.6"%/"012(3'4"i.).+'"[":&%)%/-%_K"%/""y%&E/(3."Q(pE/"["0.&-.",HJ%/(."Z.&3W."X%+)!CK":(7.*.,0&(-#")*"+(-#,0#:;<.8(2#b.4%(#ccK##L'6!"#K",6"T'6%J('"+%"0(3I'.3a/"["TN,VYVK"012(3'!""PY0ÅP,ÄK"P.*E/"#<7<" 9%#*(7.*.,0&(#,-&5+."0&.%#+,#:;<.8(?#D5%.([+.8.,*6),#+,#Fimg!K"="L'6)!K",+(3('/%)",&.K"012(3'!""PQzNTmYSxK"R.L(+"=88=" ^,6")()-%*."5.*(6(.&"*%)'.*%&(3./'"[")H)"3'/)%3H%/3(.)"+%*'J&a5(3.)_K"%/"V"$,%,-##+,#$(6%"8./0?#.F&(69bH/('K"/&!"@=K#S/(L%&)(+.+"YH-E/'*."+%6",)-.+'"+%"012(3'K"012(3'K""::!"789"<A!""PQRPÅZS,ÄK"n.3(/-'"=88?" !"# q&)"# d5,))"# b,8),&"2# R)8A.7(-# $)(A.6.+(-# +,# %"# $),0-"# C# ,%# $(+,)K" R%F.-%K"012(3'!""VrOTm,Ä"zPNOZYVK"r/J%6%)"=88@" :5D,),-?#*"&,)0.+"+#C#8"*6.(>#$)Y8&.8"-#),$)(+58&.7"-#C#,<$,).,08."-#*"&,)0"-#,0#

%"#8.5+"+#+,#:;<.8(?"S/(L%&)(+.+"YH-E/'*."0%-&':'6(-./.K"012(3'!"#

VYSD$K"O(3'6%"=88A" ^i.&%/-%)3'" [" J1/%&'" %/" 0%)'.*1&(3.4" %6" 3.)'" +%" 6.)" *.+&(/.)" G.:'-%3.)_K" %/"R.L(+" P'F(3I.H2K" U"*.%."# C# V"),0&,-8(# ,0# :;<.8(# C# :,-("*;).8"2# ^0"-# *.)"+"-#

"0&)($(%/4.8"-?#S/(L%&)(+.+"NF%&'.*%&(3./.K"012(3'!""VTmS$ÄK"Y65&%+"["i%-%&"z%&J%&"=88@"Ñ#<?@Ö" !"-#,-&)58&5)"-#+,%#*50+(#+,#%"#7.+"?"Y*'&&'&-HK"zH%/')"Y(&%)!""V,PPYK"n'&J%"D!"=887" ^hH%&G.)"Y&*.+.)"["3'/-&.(/)H&J%/3(."X#<7A\#<;=C_K"%/"y%&E/(3."Q(pE/"["0.&-.",HJ%/(."Z.&3W."X%+)!CK":(7.*.,0&(-#")*"+(-#,0#:;<.8(2#b.4%(#ccK#L'6!"=K",6"T'6%J('"+%"0(3I'.3a/"["TN,VYVK"012(3'!""$P,nQ"R,DYPzP,K"P.c6"

213

=88B" V(+,),-#b"%7"D,-2#:,+.(8)"8."#-.0#8(0&)"$,-(-?#T.6"["Y&%/.K"012(3'!""j,z,PK"0.2"#<7B" 98(0(*W"#C#-(8.,+"+2#9-6(=(#+,#-(8.(%(4W"#8(*$),0-.7"K"-&.+!"n!"0%+(/.",3I.L.&&W.K"%+!"n!"j(/3p%6*.//K"hT,K"012(3'!""ÄNz,TmNK"P.c6"=88B" d,0,"%(4W"#+,#%"#S,75,%&"K",+(3('/%)"hÄDOK"012(3'!"""Y,"*F$(!')FU&-)"%"$!,F&)&$)"L%(%"$!,F&"hYÄNQK"T.&6')"=8#8" ^R%).:.&(3(E/" 5'&G').4" Y/-%3%+%/-%)" /%3%).&(')_K" :'/%/3(.K" (/.HJH&.3(E/" +%" 6.""T.*:.`." O.3('/.6" T'/-&." 6." R%).:.&(3(E/" h'&G.+." [" 6." :&%)%/-.3(E/" +%6" *./H.6" sQ5;#A"8,)# ,0# 8"-(# +,# +,-"$").8./0# '()="+"tK" @8" +%" .J')-'K" " T%/-&'" S/(L%&)(-.&('" TH6-H&.6K"SOY0!"&-%(!+#!$)F&"!"#a()0"+"?##"+%"'3-HF&%"+%"=88?!"[[[[[[[[[[[[[[[K"#?"+%"*.['"+%"=88<!""$)"F*/',&%"&/."%,&"iaJ(/."j%F"+%"j'&+"i&%))4""}}}!*(+.&!}'&+:&%))!3'*M=887M8@M8<Ms:&'2(*.*%/-%\%/\%%HH\%6\:6./\3'/+'&\3'/-(/H.3('/M""X3'/)H6-.+."%6"@8"+%".J')-'"+%"=887C""iaJ(/."j%F"+%"Y*/()-W."N/-%&/.3('/.64"I--:4MM}%F!.*/%)-[!'&JM6(F&.&[MN/+%2M,VDYT$B88#@=88At':%/w'5å,VD\@BB""X3'/)H6-.+."%6"<"/'L(%*F&%"+%"=887C""iaJ(/."j%F"+%"6."i&'3H&.+H&W."Z%/%&.6"+%"6."P%:cF6(3.4""}}}!:J&!J'F!*2M3*)'3(.6MF'68=M%/%MF88;8=!I-*6"X3'/)H6-.+."%6"="+%"*.&G'"+%"=88?C""D."n'&/.+."%/"6W/%.K"#@"+%"*.&G'"+%"=8874""}}}!b'&/.+.!H/.*!*2M=887M8@M#@M8#=/#:'6!:I:"X3'/)H6-.+."%6"@#"+%"'3-HF&%"+%"=88?C""iaJ(/."j%F"+%"6."YJ%/3(."R(J(-.6"N/+%:%/+(%/-%"+%"O'-(3(.)4"}}}!.+(/\/'-(3(.)!3'*!.&M(/5'&*%*2!I-*"

214

X3'/)H6-.+."%6"@#"+%"'3-HF&%"+%"=88?C""iaJ(/."j%F"+%6"T'*(-1"o,H&%p.q4""I--:4MM}}}!%H&%p.!'&J!*2""X3'/)H6-.+."%6";"+%"/'L(%*F&%"+%"=88?C""iaJ(/."j%F"+%"6."Q&J./(G.3(E/"+%"6')",)-.+')"Y*%&(3./')"XQ,YC4"I--:4MM}}}!'.)!'&JMbH&(+(3'M):./()IM-&.-.+')M.\78!I-*6""X3'/)H6-.+."%6"<"+%"/'L(%*F&%"+%"=88?C""iaJ(/."j%F"+%"m!N!n!Q!V!4""I---:4MM}}}!I(b')*%2(3'!'&J""X3'/)H6-.+."%6"#="+%"bH6('"+%"=8#8C""iaJ(/."j%F"+%"6."Y)'3(.3(E/"+%"h.*(6(.&%)"+%"R%).:.&%3(+')"%/"012(3'"XYhYR,0C4"I--:4MM}}}!6./%-.!.:3!'&JM.5.+%*\5%+%5.*MI()-'&(.!I-*""X3'/)H6-.+."%6"#="+%"/'L(%*F&%"+% 2010) "D."n'&/.+."%/"6W/%.K"@"+%"bH/('"+%"=88<4""I--:4MM}}}!b'&/.+.!H/.*!*2M=88<M87M8@M(/+%2!:I:t)%3-('/å:'6(-(3.w.&-(36%å8##/#:'6""X3'/)H6-.+."%6"#8"+%"*.&G'"+%"=8#8C""D."n'&/.+."%/"6W/%.K"=<"+%"bH/('"+%"=88<4""I--:4MM}}}!b'&/.+.!H/.*!*2M=88<M87M=7M(/+%2!:I:t)%3-('/å:'6(-(3.w.&-(36%å8##/#:'6""X3'/)H6-.+."%6"#8"+%"*.&G'"+%"=8#8C""D."n'&/.+."%/"6W/%.K"#?"+%"+(3(%*F&%"+%"=88<4""I--:4MM}}}!b'&/.+.!H/.*!*2M=88<M#=M#?M(/+%2!:I:t)%3-('/å:'6(-(3.w.&-(36%å8##/#:'6""X3'/)H6-.+."%6"#8"+%"*.&G'"+%"=8#8C"" "D."JH%&&(66."%/"H/"I'['"/%J&'!",/-&%L()-."3'/"h&(-G"Z6'3p/%&K":'&"Y&(%6"PH(G"0'/+&.JE/4"I--:4MM}}}!:%&('+()-.)%/6(/%.!'&JM*'+H6%)!:I:t':å*'+6'.+w/.*%åO%})w5(6%å.&-(36%w)(+å?<7<""ZH%&&."VH3(."%/"012(3'MF6'J4"I--:4MMJH%&&.)H3(.*%2(3./.!F6'J):'-!3'*M=88;M8;M)%JH/+'9%/3H%/-&'9+%9/.3(+')9%/96.!I-*6K"3'/)H6-.+."%6"@"+%"bH6('"+%"=8#8""R%).:.&%3(+')"+%"012(3'MF6'J4"

I--:4MM+%).:.&%3(+')+%*%2(3'!F6'J):'-!3'*M=88<M87M+%).:.&%3(+')9+H&./-%9%69*%)9+%9bH/('!I-*6"X3'/)H6-.+'"%6"@8"+%"/'L(%*F&%"+%"=8#8C"

"

215

iaJ(/."j%F"+%"6."hH/+.3(E/"Y33(E/"i&'"R%&%3I')"mH*./')4"I--:4MM}}}!+%&%3I')IH*./')!/%-M/'&*.-(L.M/'&*.)M.*%&(3.MRYRmM#<B;9RYRm!I-*"X3'/)H6-.+."%6"="+%"+(3(%*F&%"+%"=8##C""iaJ(/."j%F"+%6"T'*(-1"+%"0.+&%)"XT'*.+&%)C4"}}}!3'*.+&%)!'&JM):/I()-'&[=!I-*"X3'/)H6-.+."%6""#8"+%".J')-'"+%"=8#=C""iaJ(/."j%F"+%"0.+&%)"["h.*(6(.&%)"+%"S&HJH.[')"R%-%/(+')"R%).:.&%3(+')4"I--:4MM}}}!+%).:.&%3(+')!'&J!H[M*.+&%)[5.*(6(.&.!I-*6"X3'/)H6-.+."%6""#8"+%".J')-'"+%"=8#=C""iaJ(/."j%F"^R%).:.&%3(+')!"Y&J%/-(/.!"i'&"6."0%*'&(.K"6."y%&+.+"["6."nH)-(3(._4"I--:4MM}}}!+%).:.&%3(+')!'&JM.&JM+'3M3(5&.)M*(6(!I-*6"X3'/)H6-.+."%6"#="+%".J')-'"+%"=8#=C"&

D."n'&/.+."%/"6W/%.K"#7"+%".J')-'"+%"=88?4"I--:4MM}}}!b'&/.+.!H/.*!*2M=88?M8;M#7M(/+%2!:I:t)%3-('/å%):%3-.3H6')w.&-(36%å.#=/#%):""X3'/)H6-.+."%6"#B"+%".J')-'"+%"=8##C"&

D."n'&/.+."%/"6W/%.K"=#"+%"%/%&'"+%"=8##4"I--:4MM}}}!b'&/.+.!H/.*!*2M=8##M8#M=#M':(/('/M8=@.#:'6""X3'/)H6-.+."%6"#B"+%".J')-'"+%"=8##C"&

L*%"'%F&)(,/%F&

,/-&%L()-."3'/"Y(3%6."h%&/a/+%G"Ä.*'&.K"#?"+%"'3-HF&%"+%"=8#8"

99999999999999999999999999999999999999999999999999999K"#@"+%"/'L(%*F&%"+%"=8#8"

99999999999999999999999999999999999999999999999999999K"=B"+%"/'L(%*F&%"+%"=8=8"

"

,/-&%L()-."3'/"Y3%6."Q3.`."0'&.6%)K"=<"+%"/'L(%*F&%"+%"=8#8"

9999999999999999999999999999999999999999999999999K""?"+%"+(3(%*F&%"+%"=8#8"

"

,/-&%L()-."3'/"P%[/."V./-(.J'"P'+&WJH%GK"""="+%"+(3(%*F&%"+%"=8#8"

999999999999999999999999999999999999999999999999999999K"#8"+%"+(3(%*F&%"+%"=8#8"

216

,"%M)&0W&KAJC&I&2AG26<&T3732C?3<&DC2C&?C<&378234;<8C<&

&

Y" 3'/-(/H.3(E/K" 6." JHW." J%/%&.6" [" 6')" &HF&')" ." 3HF&(&" :.&." %)-&H3-H&.&" [" 3'/+H3(&" " 6."

%/-&%L()-.!"

"

d5W"#+,#,0&),7.-&"#

"

.C"Y3%&3.*(%/-'"J%/%&.6"["%)-&H3-H&."+%"6."I()-'&(."+%"L(+."

! R.-')"J%/%&.6%)4"&&

#C86<&T3732C?3<&B3&?C&378234;<8CBC& #C86<&B3?&SC@;?;C2&B3<CDC235;B6&

O'*F&%" O'*F&%"

h.*(6(.&"+%).:.&%3(+'" h%3I."+%"6."+%).:.&(3(E/"

Q&J./(G.3(E/" ,+.+"%/"]H%"6'""+%).:.&%3%/"

,+.+" DHJ.&"+%"+%-%/3(E/"

,)-.+'"3(L(6" Q3H:.3(E/"

DHJ.&"+%"/.3(*(%/-'" Q&J./(G.3(E/"

,)3'6.&(+.+" "

Q3H:.3(E/" "

P%6(J(E/"" "

$(:'"+%"5.*(6(." "

Z.)-')M(/J&%)')"*%/)H.6%)" "

i&':(%+.+%)" "

""

! R(L()(E/"+%")H"L(+."%/"%-.:.)"9/'"/%3%).&(.*%/-%"3&'/'6EJ(3.)9"F.)a/+')%"%/" 6')"

3&(-%&(')"+%")H"%6%33(E/"["%2:6(3./+'"%)-')"c6-(*')!"

! N+%/-(5(3.&" H/" %L%/-'" 3%/-&.6K" )(J/(5(3.-(L'" X(/+(3.+'&%)K" :H/-')" +%" (/56%2(E/C4"

%2:6(3.&"%6":'&]H1"+%"6."(*:'&-./3(.!"

! s,/"]H1"3.*F(E")H"L(+."3'/"%)%"%L%/-'t""X,)-.":&%JH/-.".:6(3."I.)-."]H%")%":.)."."

217

6." )%JH/+." %-.:.C!" T.*F(')" %/" 6.)" a&%.)4" 5.*(6(.&K" %)3'6.&K" :&'5%)('/.6" X6.F'&.6CK"

&%3&%.-(L." X-(%*:'" 6(F&%CK" %3'/E*(3." X3'/+(3('/%)"*.-%&(.6%)4" +E/+%" L(LW.K" 3E*'"

L(LW.K"3E*'")%"*./-%/W.d"%66."[")H"5.*(6(.CK")'3(.6K"+%":.&%b.K":'6W-(3.K"3H6-H&.6!"

! i%&)'/.)"(*:'&-./-%)4"si'&"]H1t"X&%6.3(E/C"

! y(+."3'-(+(./.K"+W."3'-(+(./'"X:&a3-(3.)K"IaF(-')C!"r*F(-')"]H%")%":&%-%/+%/"3HF&(&4"

5.*(6(.&K" %)3'6.&K" :&'5%)('/.6" X6.F'&.6CK" &%3&%.-(L'" X-(%*:'" 6(F&%CK" )'3(.6K" :.&%b.K"

:'6W-(3'K"%3'/E*(3'K"3H6-H&.6"X-&.+(3('/%)C!""

! Y6J'"]H%"]H(%&.".J&%J.&!"

"

FC"PHF&')"'F6(J.+')K":&%JH/-.)"%):%3W5(3.)4""

"

• D."'&J./(G.3(E/4"

! TE*'"&%3'/-.&W."%66.")H"I()-'&(."+%":.&-(3(:.3(E/":'6W-(3.t"TE*'"6."

+%5(/(&W.M+%)3&(F(&W.t"

! I()-'&(."%/"6."'&J./(G.3(E/4":'&"]H1"66%JE".IW"["3E*'t"

! :.:%6"%/"6."'&J./(G.3(E/"

! &%:&%)%/-.3(E/"+%"6."'&J./(G.3(E/"X.):(&.3('/%)":%&)'/.6%)"+%"6."'&J./(G.3(E/4"

]H1"FH)3.tC"

! 0'-(L.3('/%)":.&."3'/-(/H.&"%/"6."'&J./(G.3(E/"XL%/-.b.)C"99ç"]H1"6%"+."6."

'&J./(G.3(E/"

! s,)-a").-()5%3I."3'/"%)."5'&*."+%":.&-(3(:.3(E/t"suH1"6%"(*:(+%":.&-(3(:.&"+%"

'-&."5'&*.t""

! $%/)('/%)"+%/-&'"+%"6."'&J./(G.3(E/""

! si'&"]H1"%)."'&J./(G.3(E/"["/'"'-&.t"

! $%/)('/%)".":.&-(&"+%"6.":.&-(3(:.3(E/"%/"6."'&J./(G.3(E/"X3'/"5.*(6(.C"

X+%)L%/-.b.)C""

! i'&"]H1")H)"5.*(6(.&%)"/'"%)-a/"%/"6."'&J./(G.3(E/t"suH1"':(/./"%66')"+%")H"

:.&-(3(:.3(E/t"

! suH1"%)":.&."%66.",H&%p.t"XY)'3(.3(E/"D(F&%C"

218

! sTE*'"L%"%6"5H-H&'"+%"6."'&J./(G.3(E/t"

! sV%JH(&W.":.&-(3(:./+'")(")%"66%J.&.".":&%)%/-.&".")H"5.*(6(.&t"

"

"

7C i&'[%3-'"+%"L(+.4"./-%)"["+%):H1)"+%"6."+%).:.&(3(E/""

#! Ñ,/"6.)"+()-(/-.)"%-.:.)"3E*'"5H%"3.*F(./+'")H"L()(E/"+%6"5H-H&'t"=! sYI'&.tÖ"

"""

• R%).:.&%3(+'" suH(1/"%)"2t" sTE*'"+%)3&(F%"."2t",/"-'+')"6')")%/-(+')!" TE*'"+%)3&(F%")H"&%6.3(E/"3'/"16M%66.!"

sTE*'"I."3.*F(.+'")H"&%6.3(E/"3'/"16M%66.t" QFb%-')M&%3H%&+')M6HJ.&")(*FE6(3'"+%6"+%).:.&%3(+'" sV%/-(*(%/-')"I.3(.")H"5.*(6(.&t""

uH1").FW.M]H1":%/)F.M(*.J(/.F."+%")H":.&-(3(:.3(E/":'6W-(3.!" ,L%/-'"+%"6."+%).:.&(3(E/!"

"• Y3-H.&"-&.)"6."+%-%/3(E/"+%"-'+')"6')"5.*(6(.&%)MJ%/-%"3%&3./."Xzc)]H%+.C4""

uH(1/K"+E/+%K"."]H(1/".3H+%/!!!"I.)-."3Ha/+'"FH)3./!!!"i'&"]H1".IWK":'&"]H1"/'"%/"'-&')"6.+')K"]H1"J&H:')"3'/'3W./":.&.".3H+(&!"

sTE*'"I.")(+'"%6":&'3%)'"+%"Fc)]H%+.t"" s,):%&.t" sm.[" .6J'" ]H%" I." +%b.+'" +%" I.3%&" '" I." I%3I'" %/" 5H/3(E/" +%" %)-."%):%&.MFc)]H%+.t"

"• D."+(5%&%/3(."./-%"'-&.)":1&+(+.)"

""

BC R%).:.&(3(E/"X&%:&%)%/-.3(E/C4"#! uH1"%)"H/"+%).:.&%3(+'":'6W-(3't"X.)'3(.3(E/" 6(F&%CMuH(1/"%)"H/"+%).:.&%3(+'"

:'6W-(3't"=! sTE*'"I."3.*F(.+'"%6"-1&*(/'":.&."%66.M]H1")%"(*.J(/.F."./-%)M]H1").FW."+%"

6.")(-H.3(E/K"3E*'")%"6."%2:6(3.F.t""

"

AC P%6.3('/%)")'3(.6%)4"./-%)"["+%):H1)"+%"6."+%).:.&(3(E/4"

219

ÑsTE*'"3.*F(E"6."J%/-%"3'/"%66.t"sR%/-&'"+%"6."5.*(6(."%/-&%"%66')"*()*')t"mHF'"

+()3H)('/%)"(/-%&/.)".6"&%):%3-'t"R(L()('/%)"5.*(6(.&%)t"s,66."3'/")H)")%&%)"]H%&(+')"["

3%&3./')4".*(J')K":.&%b.)K"5.*(6(.t"sR%"6."J%/-%"%2-%&/."I.3(."6."5.*(6(.t"s3E*'"3.*F(E")H"

&%6.3(E/"3'/"%)-.)":%&)'/.)t"s,)-(J*.)"I.3(.")H"5.*(6(.&t"XuH1")%"+%3W."+%"164""3').)"

:')(-(L.)"["/%J.-(L.)d"]H1")%"+%3W."+%"6.")(-H.3(E/K"3E*'")%"6."%2:6(3.F.C!""

7C V'3(.6(G.3(E/"+%6":&'F6%*.4"sm.F6.F./"+%"%)-'"%/"6."5.*(6(.t"sD'"I.F6.F."%66."3'/"

.6JH(%/tÖ"

?C 0(%+')"

#! sTHa6%)")'/"%/"6.)"+()-(/-.)"%-.:.)t"

=! sTE*'")%"I."(+'"-&./)5'&*./+'t""

@! s,/"]H1")%"I./"(+'"-&./)5'&*./+'t"

;C $&./)*()(E/"

#! sD%J.+'"+%"%66.t"

=! suH1":.:%6"+%"%66."L%")%*F&.+'"%/"%6"5H-H&'"+%"6."6H3I.":'&"6')"+%).:.&%3(+')t""

<C N+%/-(+.+"

#! suH(1/"%)"6."%/-&%L()-.+.t"

=! suH(1/"/'"%)t"

@! suH1"6."+%5(/%t"

""

&

V%" I(G'" %6" 3'*:&'*()'" +%" %/-&%J.&" 6." %/-&%L()-." 3'*:6%-.*%/-%" -&./)3&(-." ." 6.)"

%/-&%L()-.+.)!",/":&(*%&"6HJ.&K":.&."]H%"-HL(%&./".")H"+():')(3(E/"%6"*.-%&(.6d""%/")%JH/+'"

6HJ.&K" :.&." ]H%" 6." -&./)3&(:3(E/" 5H%&." &%L().+." :'&" %66.)" [" :H+(%&./" I.3%&K" %/" 6.)"

:')-%&('&%)" )%)('/%)" X'" %/" H/." )%)(E/" %2-&." .6" 5(/.6CK" 6.)" .36.&.3('/%)K" 3%/)H&.)K"

*'+(5(3.3('/%)K" %2:6(3.3('/%)K" ./'-.3('/%)" [" :&'5H/+(G.3('/%)" ]H%" %66.)" 3'/)(+%&.&./"

/%3%).&(.)!"

"