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UKUVGOCUFGKPHQTOCEKÎPCUGTOKITCFQUCUQHVYCTGNKDTG 'XCNWCT NQU EQUVQU FGN RNCP FG OKITCEKÎP ETQPQITCOC FGN RTQEGUQ FG OKITCEKÎP NC FKURQPKDKNKFCF [ ECRCEKFCF FGN +PUVKVWVQ0CEKQPCNFG'UVCFÈUVKECG+PHQTO¶VKEC )WÈCRCTCNC/KITCEKÎPFG 5QHVYCTG.KDTGGPNCU'PVKFCFGU2ÕDNKECU x x x x RGTUQPCNKPHQTO¶VKEQFGNCKPUVKVWEKÎPRCTCGHGEVWCTGNRNCP FG OKITCEKÎPQGPUWFGHGEVQGUVKOCTNCRCTVKEKRCEKÎPFGVGTEGTQU #UKIPCEKÎP FG NQU TGEWTUQU TGSWGTKFQU C PKXGN FG JCTFYCTG [ UQHVYCTGCUÈEQOQVCODKÃPFGNRGTUQPCNVÃEPKEQTGSWGTKFQ 5WRGTXKUCTGNEWORNKOKGPVQFGNCUOGVCURTQITCOCFCU 2TQOQXGT CEEKQPGU FG FKHWUKÎP UQDTG GN RNCP FG OKITCEKÎP [ UWUDGPGHKEKQUCNWUWCTKQGKPUVKVWEKÎP %QPUVKVWKT NQU UWDEQOKVÃU Q RTQ[GEVQU GP HWPEKÎP C NCU ECTCEVGTÈUVKECU[OCIPKVWFFGNC+PUVKVWEKÎP ,GHGUFG2TQ[GEVQ 2TQ[GEVQ#5GTXKFQTGUFG%QOWPKECEKQPGU 4GURQPUCDNG ,GHGFG)GUVKÎPFG%QOWPKECEKQPGU #EVKXKFCF #FOKPKUVTCEKÎPFGUGTXKFQTGUFGEQOWPKECEKQPGU 5GTXKFQT 9GD %QTTGQ 4GF (KTGYCNN &05 0(54GURQPUCDNGFGNTGURCNFQ (WPEKQPGUGURGEÈHKECUFGPVTQGNRNCPFGOKITCEKÎP x x x x 1TICPK\CT 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FCVQU FGUCTTQNNQ [ IGUVKÎPFGCFOKPKUVTCEKÎP 2CTVKEKRCT GP NC GNCDQTCEKÎP FG VCTGCU [ FGUCTTQNNQ FGN RTQ[GEVQ #RNKECT NQU RTQEGFKOKGPVQU GUVCDNGEKFQU RCTC NC TGCNK\CEKÎP FGN RTQ[GEVQ &KHWUKÎP +PXGPVCTKQ GXCNWCEKÎP FG NCU CRNKECEKQPGU [ JGTTCOKGPVCU )07.KPWZ C CFQRVCTUG KORNGOGPVCEKÎPRTWGDCUECRCEKVCEKÎPCNRGTUQPCNFGUW¶TGC [WUWCTKQUFQEWOGPVCTGNRTQEGUQCFSWKUKEKÎPFGOCPWCNGU FGWUWCTKQRCTCNQUUGTXKFQTGUOKITCFQU %QPVTQNCT [ UWRGTXKUCT GN EWORNKOKGPVQ FGN ETQPQITCOC CFCRVCPFQOGFKFCUEQTTGEVKXCUFGUGTPGEGUCTKQ 2TQ[GEVQ%#RN KECEKQPGUGUVTCVÃIKECU 4GURQPUCDNG ,GHGFGFGUCTTQNNQ #EVKXKFCF #FOKPKUVTCEKÎP FG CRNKECEKQPGU FG IGUVKÎP CFOKPKUVTCEKÎP QRGTCEKQPGU GUVTCVÃIKECU TGURQPUCDNGFGNTGURCNFQ (WPEKQPGUGURGEÈHKECUFGPVTQGNRNCPFGOKITCEKÎP x x x 1TICPK\CT EQQTFKPCT [EQPVTQNCTNQU TGEWTUQU FGJCTFYCTG[ UQHVYCTGFGUW¶TGCRCTCNCOKITCEKÎPCUQHVYCTGNKDTG 2CTVKEKRCT GP NC GNCDQTCEKÎP FG VCTGCU [ FGUCTTQNNQ FGN RTQ[GEVQ #RNKECT NQU RTQEGFKOKGPVQU GUVCDNGEKFQU RCTC NC TGCNK\CEKÎP FGN RTQ[GEVQ FKHWUKÎP +PXGPVCTKQ GXCNWCEKÎP FG NCU CRNKECEKQPGU [ JGTTCOKGPVCU )07.KPWZ C CFQRVCTUG KORNGOGPVCEKÎPRTWGDCUECRCEKVCEKÎPCNRGTUQPCNFGUW¶TGC [WUWCTKQUFQEWOGPVCTGNRTQEGUQCFSWKUKEKÎPFGOCPWCNGU FGWUWCTKQRCTCNQUUGTXKFQTGUOKITCFQU 2TQ[GEVQ&#RNKECE KQPGU1HKO¶VKEC 4GURQPUCDNG ,GHGFGUQRQTVGVÃEPKEQ #EVKXKFCF +PUVCNCEKÎP OCPVGPKOKGPVQ [ UQRQTVG C GUVCEKQPGU FG VTCDCLQ C PKXGN FG JCTFYCTG UQHVYCTG[TGURQPUCDNGFGNTGURCNFQ +PUVKVWVQ0CEKQPCNFG'UVCFÈUVKECG+PHQTO¶VKEC )WÈCRCTCNC/KITCEKÎPFG 5QHVYCTG.KDTGGPNCU'PVKFCFGU2ÕDNKECU (WPEKQPGUGURGEÈHKECUFGPVTQGNRNCPFGOKITCEKÎP x x x x 1TICPK\CT EQQTFKPCT [EQPVTQNCTNQU TGEWTUQU FGJCTFYCTG[ UQHVYCTGRCTCNQUWUWCTKQUHKPCNGUTGNCEKQPCFQUCNQUUKUVGOCU QRGTCVKXQU[NCUWKVGQHKO¶VKECC)07.KPWZ[5VCT1HHKEG TGURGEVKXCOGPVG 2CTVKEKRCT GP NC GNCDQTCEKÎP FG VCTGCU [ FGUCTTQNNQ FGN RTQ[GEVQ #RNKECTNQURTQEGFKOKGPVQUGUVCDNGEKFQURCTCNCTGCNK\CEKÎPFGN RTQ[GEVQ &KHWUKÎP KPXGPVCTKQ GXCNWCEKÎP G KORNGOGPVCEKÎP FG NCU CRNKECEKQPGU [ JGTTCOKGPVCU )07.KPWZ C CFQRVCTUG RTWGDCU ECRCEKVCEKÎP [ FQEWOGPVCEKÎP FGN RTQEGUQ 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FGUEQORQPG VQFQU NQU EQOCPFQU FG FKDWLQ GP XGEVQTGUGNGOGPVCNGU[NQUEQPXKGTVGGPWPCXCTKGFCFFGHQTOCVQUFGUCNKFCXGEVQTKCNGU [TCUVGTU *VVRVWPPGN ETGCWPCTWVCFGFCVQUXKTVWCNDKFKTGEEKQPCNSWGGUVCDNGEGUWEQOWPKECEKÎP CVTCXÃUFGTGSWKUKEKQPGUGP*662 *[RGTDQNG GUETKVQ RQT $QD 9GKPGT GP 'OCEU .KUR UG VTCVC FG WP UKUVGOC JKRGTVGZVQ CDKGTVQ GHKEKGPVG EQP CFOKPKUVTCEKÎP FG KPHQTOCEKÎP RTQITCOCDNG IGPGTCFQT FG GUSWGOCUCWVQPWOGTCFQURGPUCFQGPGNVTCDCLQFKCTKQRCTCHWPEKQPCTDCLQEWCNSWKGT RNCVCHQTOCFQPFGUGGLGEWVG'OCEU +&7VKNU GUWPRCSWGVGFGJGTTCOKGPVCUKPFGRGPFKGPVGUFGNNGPIWCLGUKORNGUT¶RKFCU[ FG CNVC ECRCEKFCF SWG IGPGTCP ÈPFKEGU FG KFGPVKHKECFQTGU FG RTQITCOCU PÕOGTQU NKVGTCNGUQRCNCDTCUFGVGZVQUNGIKDNGURCTCWPWUWCTKQ )07KPFGPV &CHQTOCVQCEÎFKIQUHWGPVGGP%C)07$5&-4 +PGVWVKNU GUWPCFKUVTKDWEKÎPFGWVKNGTÈCUFGWUQEQOÕPRCTCTGFGU[UGTXKFQTGU +URGNN GUWPTGXKUQTQTVQIT¶HKEQSWGUWIKGTGRCNCDTCUEGTECPCURCTCTGGORNC\CTRCNCDTCU PQTGEQPQEKFCU +PUVKVWVQ0CEKQPCNFG'UVCFÈUVKECG+PHQTO¶VKEC )WÈCRCTCNC/KITCEKÎPFG 5QHVYCTG.KDTGGPNCU'PVKFCFGU2ÕDNKECU x x x x x x x x x x x x x x x x x x x x x x ,#%#. 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