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A

5REHUW%RVFK+DXVJHUlWH*PE+
HO
ȊʌȠįİȓȟİȚȢĮıijĮȜİȓĮȢ
ȆĮȡĮțĮȜȠȪȝİįȚĮȕȐıIJİʌȡȠıİȤIJȚțȐIJȚȢȠįȘȖȓİȢȤȡȒıȘȢ
ıȣȝȝȠȡijȦșİȓIJİȝ¶ĮȣIJȑȢțĮȚijȣȜȐȟIJİIJȚȢ
ǾıȣıțİȣȒșĮʌȡȑʌİȚȞĮıȣȞȠįİȪİIJĮȚĮʌȩIJȚȢʌĮȡȠȪıİȢȠįȘȖȓİȢȩIJĮȞ
ʌĮȡĮįȓįİIJĮȚıİȑȞĮȞȐȜȜȠȤȡȒıIJȘ
ǹȣIJȒȘıȣıțİȣȒİȓȞĮȚıȤİįȚĮıȝȑȞȘȖȚĮȠȚțȚĮțȒȤȡȒıȘȒȖȚĮȤȡȒıȘ
ıİȝȘİȝʌȠȡȚțȐȠȚțȚĮțȠȪIJȪʌȠȣʌİȡȚȕȐȜȜȠȞIJĮȈIJȚȢȠȚțȚĮțȑȢȤȡȒıİȚȢ
ʌİȡȚȜĮȝȕȐȞȠȞIJĮȚȝİIJĮȟȪȐȜȜȦȞȘȤȡȒıȘıİȤȫȡȠȣȢİıIJȓĮıȘȢ
ıȣȞİȡȖĮIJȫȞıİțĮIJĮıIJȒȝĮIJĮȖȡĮijİȓĮȖİȦȡȖȚțȑȢțĮȚȐȜȜİȢȝȚțȡȑȢ
İʌȚȤİȚȡȒıİȚȢțĮșȫȢțĮȚȘȤȡȒıȘĮʌȩʌİȜȐIJİȢʌĮȞįȠȤİȓȦȞȝȚțȡȫȞ
ȟİȞȠįȠȤİȓȦȞțĮȚȐȜȜȦȞʌĮȡȩȝȠȚȦȞțĮIJĮȜȣȝȐIJȦȞ
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ȀȓȞįȣȞȠȢȘȜİțIJȡȠʌȜȘȟȓĮȢțĮȚʌȣȡțĮȖȚȐȢ
ȈȣȞįȑıIJİțĮȚȜİȚIJȠȣȡȖİȓıIJİIJȘȞıȣıțİȣȒıȪȝijȦȞĮȝİIJĮ
ĮȞĮȖȡĮijȩȝİȞĮıIJȘȞʌȚȞĮțȓįĮIJȪʌȠȣ
ȆĮȚįȚȐțȐIJȦIJȦȞİIJȫȞįİȞİʌȚIJȡȑʌİIJĮȚȞĮȤȡȘıȚȝȠʌȠȚȠȪȞIJȘ
ıȣıțİȣȒ
ǹȣIJȑȢȠȚıȣıțİȣȑȢȝʌȠȡȠȪȞȞĮȤȡȘıȚȝȠʌȠȚȘșȠȪȞĮʌȩʌĮȚįȚȐ
ĮʌȩİIJȫȞțĮȚʌȐȞȦțĮȚĮʌȩȐIJȠȝĮȝİʌİȡȚȠȡȚıȝȑȞİȢijȣıȚțȑȢ
ĮȚıșȘIJȒȡȚİȢȒʌȞİȣȝĮIJȚțȑȢȚțĮȞȩIJȘIJİȢȒȝİĮȞİʌĮȡțȒİȝʌİȚȡȓĮ
țĮȚȒĮȞİʌĮȡțİȓȢȖȞȫıİȚȢȩIJĮȞİʌȚIJȘȡȠȪȞIJĮȚȒȑȤȠȣȞİȞȘȝİȡȦșİȓ
ıȤİIJȚțȐȝİIJȘȞĮıijĮȜȒȤȡȒıȘIJȘȢıȣıțİȣȒȢțĮȚȑȤȠȣȞțĮIJĮȞȠȒıİȚ
IJȠȣȢʌȚșĮȞȠȪȢĮʌȩIJȘȤȡȒıȘIJȘȢıȣıțİȣȒȢțȚȞįȪȞȠȣȢȉĮʌĮȚįȚȐ
įİȞİʌȚIJȡȑʌİIJĮȚȞĮʌĮȓȗȠȣȞȝİIJȘıȣıțİȣȒȅțĮșĮȡȚıȝȩȢțĮȚȘ
ıȣȞIJȒȡȘıȘĮʌȩIJȠȤȡȒıIJȘįİȞİʌȚIJȡȑʌİIJĮȚȞĮİțIJİȜİȓIJĮȚĮʌȩʌĮȚįȚȐ
ȤȦȡȓȢİʌȚIJȒȡȘıȘ
ȋȡȘıȚȝȠʌȠȚȒıIJİIJȘȞȝȩȞȠİijȩıȠȞIJȠțĮȜȫįȚȠIJȡȠijȠįȠıȓĮȢIJȘȢ
ıȣıțİȣȒȢįİȞʌĮȡȠȣıȚȐȗİȚȕȜȐȕİȢȉȡĮȕȒȟIJİIJȠijȚȢĮʌȩIJȘȞʌȡȓȗĮ
ȝİIJȐĮʌȩțȐșİȤȡȒıȘȒȩIJĮȞȣʌȐȡȤİȚıijȐȜȝĮ
ȅȚİʌȚıțİȣȑȢıIJȘȞıȣıțİȣȒȩʌȦȢʌȤȘĮȞIJȚțĮIJȐıIJĮıȘIJȠȣ
țĮȜȦįȓȠȣIJȡȠijȠįȠıȓĮȢıİʌİȡȓʌIJȦıȘȕȜȐȕȘȢİʌȚIJȡȑʌİIJĮȚȞĮ
ȖȓȞİȚȝȩȞȠĮʌȩIJĮįȚțȐȝĮȢțȑȞIJȡĮİȟȣʌȘȡȑIJȘıȘȢʌİȜĮIJȫȞȖȚĮȞĮ
ĮʌȠijİȣȤșȠȪȞȑIJıȚİʌȚțȓȞįȣȞİȢțĮIJĮıIJȐıİȚȢ

3+$
GH HO
ȉȠțĮȜȫįȚȠIJȡȠijȠįȠıȓĮȢįİȞİʌȚIJȡȑʌİIJĮȚ
Ɣ ȞĮȑȡșİȚıİİʌĮijȒȝİțĮȣIJȐĮȞIJȚțİȓȝİȞĮ
Ɣ ȞĮıȣȡșİȓʌȐȞȦıİțȠijIJİȡȑȢĮțȝȑȢ
Ɣ ȞĮȤȡȘıȚȝȠʌȠȚȘșİȓȦȢȤİȚȡȠȜĮȕȒ
ȆȡȚȞĮʌȩIJȠȞț
ĮșĮȡȚıȝȩIJȡĮȕȒȟIJİIJȠijȚȢĮʌȩIJȘȞʌȡȓȗĮ
ȆȠIJȑȝȘȕȠȣIJȒȟIJİIJȘȞıȣıțİȣȒıIJȠȞİȡȩ
ȂȘȞȤȡȘıȚȝȠʌȠȚİȓIJİʌȠIJȑĮIJȝȠțĮșĮȡȚıIJȒȡĮ
ǾȕȠȪȡIJıĮȗİıIJĮȓȞİIJĮȚʌȠȜȪ
ȂȘȞĮȖȖȓȗİIJİĮijȒıIJİʌȡȫIJĮȞĮțȡȣȫıİȚ
ȂȘȞIJȠȤȡȘıȚȝȠʌȠȚİȓIJİȖȚĮȝĮȜȜȚȐʌȠȣıIJȐȗȠȣȞȞİȡȩȒȖȚĮıȣȞșİIJȚțȐ
ȝĮȜȜȚȐ
ȂȘȞIJȘȞȤȡȘıȚȝȠʌȠȚİȓIJİțȠȞIJȐıİȞİȡȩʌȠȣȕȡȓıțİIJĮȚ
ȝȑıĮıİȝʌĮȞȚȑȡİȢȞȚʌIJȒȡİȢȒıİȐȜȜĮįȠȤİȓĮ
¡
ĬĮȞȐıȚȝȠȢțȓȞįȣȞȠȢ
ȂȘijȑȡȞİIJİʌȠIJȑIJȘȞıȣıțİȣȒıİİʌĮijȒȝİIJȠȞİȡȩȀȓȞįȣȞȠȢ
ȣʌȐȡȤİȚĮțȩȝĮțĮȚȩIJĮȞȘıȣıțİȣȒİȓȞĮȚĮʌİȞİȡȖȠʌȠȚȘȝȑȞȘțĮȚȖȚĮIJȠ
ȜȩȖȠĮȣIJȩȝİIJȐĮʌȩțȐșİȤȡȒıȘȒįȚĮțȠʌȒıIJȘįȚȐȡțİȚĮIJȘȢȤȡȒıȘȢ
IJȡĮȕȒȟIJİIJȠijȚȢĮʌȩIJȘȞʌȡȓȗĮ
ǼʌȚʌȡȩıșİIJȘĮıijȐȜİȚĮʌȡȠıijȑȡİȚȘʌȡȠıșȒțȘʌȡȠıIJĮIJİȣIJȚțȠȪȝİ
ȡİȜĮȓįȚĮijȣȖȒȢȝȑȤȡȚP$ıIJȘȞȘȜİțIJȡȚțȒİȖțĮIJȐıIJĮıȘIJȠȣıʌȚIJȚȠȪ
ǽȘIJȒıIJİıȣȝȕȠȣȜȒĮʌȩİȖțĮIJĮıIJȐIJȘȘȜİțIJȡȠȜȩȖȠ
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ȀȓȞįȣȞȠȢĮıijȣȟȓĮȢ
ȂȘȞĮijȒȞİIJİIJĮʌĮȚįȚȐȞĮʌĮȓȗȠȣȞȝİIJĮȣȜȚțȐıȣıțİȣĮıȓĮȢ

5REHUW%RVFK+DXVJHUlWH*PE+
HO
ȈȣȖȤĮȡȘIJȒȡȚĮʌȠȣĮȖȠȡȐıĮIJİĮȣIJȒȞIJȘ
ıȣıțİȣȒ%RVFKǹʌȠțIJȒıĮIJİȑȞĮʌȡȠȧȩȞ
ȣȥȘȜȒȢʌȠȚȩIJȘIJĮȢʌȠȣșĮıȐȢĮijȒıİȚ
ĮʌȩȜȣIJĮȚțĮȞȠʌȠȚȘȝȑȞȠȣȢ
ǹȣIJȑȢȠȚȠįȘȖȓİȢȤȡȒıȘȢʌİȡȚȖȡȐijȠȣȞȝȚĮ
ȕȠȪȡIJıĮVW\OLQJșİȡȝȠȪĮȑȡĮȝİİȟĮȡIJȒȝĮIJĮ
ȉȝȒȝĮIJĮȤİȚȡȚıIJȘȡȓȠȣ
țĮȚİȟĮȡIJȒȝĮIJĮ
ǻȚĮțȩʌIJȘȢĬİȡȝȠțȡĮıȓĮijȣıȘIJȒȡĮȢ
ȕĮșȝȓįİȢ
ȆȜȒțIJȡȠ&RRO3
ȆȜȒțIJȡȠĮʌȠįȑıȝİȣıȘȢ
ȈIJȡȩȖȖȣȜȘǺȠȪȡIJıĮȝİĮȞȐȝİȚțIJİȢ
IJȡȓȤİȢ
ȈIJȡȩȖȖȣȜȘȕȠȪȡIJıĮ
ȋȡȒıȘ
ȂȘȞțȜİȓȞİIJİʌȠIJȑIJȠȐȞȠȚȖȝĮIJȠȣĮȞİ
ȝȚıIJȒȡĮȒIJȠȐȞȠȚȖȝĮİȚıĮȖȦȖȒȢĮİȡĮ
ĭȡȠȞIJȓıIJİȫıIJİıIJȠȐȞȠȚȖȝĮİȚıĮȖȦȖȒȢ
ĮİȡĮȞĮȝȘȞȣʌȐȡȤȠȣȞȤȞȠȪįȚĮȒIJȡȓȤİȢ
ȈİʌİȡȓʌIJȦıȘȣʌİȡșȑȡȝĮȞıȘȢʌȤȜȩȖȦ
țȐȜȣȥȘȢIJȠȣĮȞȠȓȖȝĮIJȠȢĮȑȡĮȘȕȠȪȡIJıĮ
VW\OLQJȗİıIJȠȪĮȑȡĮįȚĮțȩʌIJİȚĮȣIJȩȝĮIJĮțĮȚ
ȝİIJȐĮʌȩȜȓȖĮȜİʌIJȐȟİțȚȞȐİȚʌȐȜȚ
ȉȠʌȠșİIJȒıIJİȩȜĮIJĮİȟĮȡIJȒȝĮIJĮıIJȘȞıȘȝİȚ
ȦȝȑȞȘșȑıȘ
ƔțĮȚȝİʌİȡȚıIJȡȠijȒĮıijĮȜȓıIJİ
IJȠıIJȠź
īȚĮĮȜȜĮȖȒIJȠȣİȟĮȡIJȒȝĮIJȠȢ
ʌȚȑıIJİIJȠʌȜȒțIJȡȠĮʌȠįȑıȝİȣ
ıȘȢțĮȚĮijĮȚȡȑıIJİIJȠİȟȐȡIJȘȝĮ
ıIJȡȑijȠȞIJȐȢIJȠʌȡȠȢIJĮʌȓıȦ
ǺȠȪȡIJıİȢ
ǹȞȐȜȠȖĮȝİIJȠȝȒțȠȢIJȦȞȝĮȜȜȚȫȞțĮȚIJȘȞ
İʌȚșȣȝȘIJȒțȩȝȝȦıȘİʌȚȜȑȟIJİȝȚĮȕȠȪȡIJıĮ
țĮȚIJȠʌȠșİIJȒıIJİIJȘȞ
īȣȡȓıIJİıİȝʌȠȪțȜĮȝȚĮıijȠȣȖȖȚıȝİȞȘ
IJȠȪijĮȝĮȜȜȚȫȞȟİțȚȞȫȞIJĮȢĮʌȩIJȚȢȐțȡİȢ
ǺȐȜIJİIJȠįȚĮțȩʌIJȘıIJȘȞ
ȕĮșȝȓįĮƔȜȓȖȠȗİıIJȩȒıIJȘȞ
ȕĮșȝȓįĮƔƔʌȠȜȪțĮȣIJȩțĮȚ
ıIJİȖȞȫıIJİIJȚȢIJȠȪijİȢȝİȗİıIJȩ
ĮȑȡĮ
ȂİİȞİȡȖȠʌȠȓȘıȘIJȠȣʌȜȒțIJȡȠȣ
FRROijȚȟȐȡİIJİțĮȚijȠȡȝȐȡİIJİ
IJȘȞIJȠȪijĮȝİȥȣȤȡȩIJİȡȠĮȑȡĮ
īȚĮʌİȡȚııȩIJİȡİȢʌȜȘȡȠijȠȡȓİȢıȤİIJȚțȐ
ȝİIJȠVW\OLQJIJȘȢ%RVFKİʌȚıțİijșİȓIJİIJȘȞ
ȚıIJȠıİȜȓįĮ
ZZZERVFKSHUVRQDOVW\OHFRP
ǹʌȠșȒțİȣıȘ
ȆȡȚȞĮʌȩIJȘijȪȜĮȟȘĮijȒıIJİIJȘıȣıțİȣȒȞĮ
țȡȣȫıİȚțĮȚIJȡĮȕȒȟIJİIJȠijȚȢĮʌȩIJȘȞʌȡȓȗĮ

3+$
GH HO
ȀĮșĮȡȚıȝȩȢ
¡
ȀȓȞįȣȞȠȢȘȜİțIJȡȠʌȜȘȟȓĮȢ
ȆȡȚȞĮʌȩIJȠȞțĮșĮȡȚıȝȩĮijȒıIJİIJȘıȣıțİȣȒ
ȞĮțȡȣȫıİȚțĮȚIJȡĮȕȒȟIJİIJ
ȠijȚȢĮʌȩIJȘȞ
ʌȡȓȗĮ
ȂȘȕȣșȓȗİIJİʌȠIJȑIJȘȞıȣıțİȣȒıİȞİȡȩ
ȂȘȤȡȘıȚȝȠʌ
ȠȚİȓIJİʌȠIJȑĮIJȝȠțĮșĮȡȚıIJȒȡĮ
ƔȈțȠȣʌȓıIJİIJȘȞıȣıțİȣȒȝȩȞȠĮʌ¶ȑȟȦ
ȝİȑȞĮȣȖȡȠʌĮȞȓȂȘȤȡȘıȚȝȠʌȠȚİȓIJİ
įȡĮıIJȚțȐȝȑıĮțĮșĮȡȚıȝȠȪȒĮȣIJȐʌȠȣ
ĮȞĮȖȡȐijȠȞIJĮȚȖȚĮIJȡȓȥȚȝȠ
ƔȀĮșĮȡȓȗİIJİIJȠʌȜȑȖȝĮĮʌȠȡȡȩijȘıȘȢĮȑȡĮ
IJĮțIJȚțȐȝİȑȞĮʌȚȞȑȜȠ
ƔǹijĮȚȡȑıIJİIJĮİȟĮȡIJȒȝĮIJĮțĮȚțĮșĮȡȓıIJİIJĮ
ȋȡȘıȚȝȠʌȠȚȒıIJİIJĮʌȐȜȚȩIJĮȞĮȞĮȖȡȐijȠ
ȞIJĮȚİȞIJİȜȫȢıIJİȖȞȐ
ȉİȤȞȚțȐȤĮȡĮțIJȘȡȚıIJȚțȐ
ǾȜİțIJȡȚțȒıȪȞįİıȘ
IJȐıȘıȣȤȞȩIJȘIJĮ
9
+]
ǹʌȠȡȡȠijȠȪȝİȞȘȚıȤȪȢ :
ǹʌȠțȠȝȚįȒ
ǹʌȠȡȡȓȥIJİIJȘıȣıțİȣĮıȓĮȝİIJȡȩʌȠijȚȜȚțȩ
ʌȡȠȢIJȠʌİȡȚȕȐȜȜȠȞǹȣIJȒȘıȣıțİȣȒ
ȤĮȡĮțIJȘȡȓȗİIJĮȚıȪȝijȦȞĮȝİIJȘȞİȣȡȦʌĮȧțȒ
ȠįȘȖȓĮǼȀʌİȡȓȘȜİțIJȡȚțȫȞțĮȚȘȜİ
țIJȡȠȞȚțȫȞıȣıțİȣȫȞZDVWHHOHFWULFDODQG
HOHFWURQLFHTXLSPHQW±:(((
ǾȠįȘȖȓĮʌȡȠțĮșȠȡȓȗİȚIJĮʌȜĮȓıȚĮȖȚĮȝȚĮ
ĮʌȩıȣȡıȘțĮȚĮȟȚȠʌȠȓȘıȘIJȦȞʌĮȜȚȫȞ
ıȣıțİȣȫȞȝİȚıȤȪı¶ȩȜȘIJȘȞǼǼīȚĮIJȠȣȢ
IJȡȩʌȠȣȢĮʌȠțȠȝȚįȒȢʌȠȣȚıȤȪȠȣȞİʌȓIJȠȣ
ʌĮȡȩȞIJȠȢșĮıĮȢİȞȘȝİȡȫıİȚȠİȚįȚțȩȢ
ȑȝʌȠȡȠȢ
A
ǵȡȠȚİȖȖȪȘıȘȢ
ǾǼȖȖȪȘıȘțĮȜȒȢȜİȚIJȠȣȡȖȓĮȢIJȦȞʌȡȠ
ȧȩȞIJȦȞȝĮȢʌĮȡȑȤİIJĮȚȖȚĮȤȡȠȞȚțȩįȚȐ
ıIJȘȝĮİȓțȠıȚIJİııȐȡȦȞȝȘȞȫȞĮʌȩ
IJȘȞȘȝİȡȠȝȘȞȓĮIJȘȢʌȡȫIJȘȢĮȖȠȡȐȢʌȠȣ
ĮȞĮȖȡȐijİIJĮȚıIJȘșİȦȡȘȝȑȞȘĮʌȩįİȚȟȘ
ĮȖȠȡȐȢīȚĮIJȘȞʌĮȡȠȤȒIJȘȢİȖȖȪȘıȘȢ
ĮʌĮȚIJİȓIJĮȚȘİʌȓįİȚȟȘIJȘȢșİȦȡȘȝȑȞȘȢ
ĮʌȩįİȚȟȘȢĮȖȠȡȐȢıIJȘȞȠʌȠȓĮĮȞĮȖȡȐijİ
IJĮȚȠIJȪʌȠȢțĮȚIJȠȝȠȞIJȑȜȠIJȠȣʌȡȠȧȩȞIJȠȢ
ǾİIJĮȚȡİȓĮȝȑıĮıIJĮĮȞȦIJȑȡȦȤȡȠȞȚțȐ
ȩȡȚĮıİʌİȡȓʌIJȦıȘʌȜȘȝȝİȜȠȪȢȜİȚIJȠȣȡ
ȖȓĮȢIJȘȢıȣıțİȣȒȢĮȞĮȜĮȝȕȐȞİȚIJȘȞȣʌȠ
ȤȡȑȦıȘIJȘȢİʌĮȞĮijȠȡȐȢIJȘȢıİȠȝĮȜȒ
ȜİȚIJȠȣȡȖȓĮțĮȚIJȘȢĮȞIJȚțĮIJȐıIJĮıȘȢțȐșİ
IJȣȤȩȞİȜĮIJIJȦȝĮIJȚțȠȪȝȑȡȠȣȢʌȜȘȞIJȦȞ
ĮȞĮȜȫıȚȝȦȞțĮȚIJȦȞİȣʌĮșȫȞȩʌȦȢIJĮ
ȖȣȐȜȚȞĮȜĮȝʌIJȒȡİȢțȜʌǹʌĮȡĮȓIJȘIJȘ
ʌȡȠȨʌȩșİıȘȖȚĮȞĮȚıȤȪİȚȘİȖȖȪȘıȘ
İȓȞĮȚȘȝȘȜİȚIJȠȣȡȖȓĮIJȘȢıȣıțİȣȒȢȞĮ
ʌȡȠȑȡȤİIJĮȚĮʌȩIJȘȞʌȠȜȣȝİȜȒțĮIJĮ
ıțİȣȒIJȘȢțĮȚȩȤȚİʌȓʌĮȡĮįİȓȖȝĮIJȚĮʌȩ
țĮțȒȤȡȒıȘȜĮȞșĮıȝȑȞȘİȖțĮIJȐıIJĮıȘ
ȝȘIJȒȡȘıȘIJȦȞȠįȘȖȚȫȞȤȡȒıȘȢIJȘȢ
ıȣıțİȣȒȢĮțĮIJȐȜȜȘȜȘıȣȞIJȒȡȘıȘĮʌȩ
ʌȡȩıȦʌĮȝȘİȟȠȣıȚȠįȠIJȘȝȑȞĮĮʌȩIJȘȞ
%6+ȅȚțȚĮțȑȢȈȣıțİȣȑȢǹǺǼȒĮʌȩ
İȟȦȖİȞİȓȢʌĮȡȐȖȠȞIJİȢȩʌȦȢįȚĮțȠʌȑȢ
ȘȜİțIJȡȚțȠȪȡİȪȝĮIJȠȢȒįȚĮijȠȡȠʌȠȓȘıȘȢ
IJȘȢIJȐıȘȢțȜʌ
ȈIJȘȞʌİȡȓʌIJȦıȘʌȠȣIJȠʌȡȠȧȩȞįİȞ
ȜİȚIJȠȣȡȖİȓıȦıIJȐȜȩȖȦIJȘȢțĮIJĮıțİȣȒȢ
IJȠȣțĮȚİijȩıȠȞȘʌȜȘȝȝİȜȒȢȜİȚIJȠȣȡȖȓĮ
İțįȘȜȫșȘțİțĮIJȐIJȘȞʌİȡȓȠįȠİȖȖȪȘıȘȢ
IJȠǼȟȠȣıȚȠįȠIJȘȝȑȞȠȈȑȡȕȚȢȘIJȠİȟȠȣıȚ
ȠįȠIJȘȝȑȞȠıȣȞİȡȖİȓȠIJȘȢ%6+ȅȚțȚĮțȑȢ
ȈȣıțİȣȑȢǹǺǼșĮIJȠİʌȚıțİȣȐıİȚȝİ
ıțȠʌȩIJȘȤȡȒıȘȖȚĮIJȘȞȠʌȠȓĮțĮIJĮıțİȣ
ȐıIJȘțİȤȦȡȓȢȞĮȣʌȐȡȟİȚȤȡȑȦıȘȖȚĮ
ĮȞIJĮȜȜĮțIJȚțȐȒIJȘȞİȡȖĮıȓĮ
ǻİȞțĮȜȪʌIJȠȞIJĮȚĮʌȩIJȘȞİȖȖȪȘıȘȠȚ
ȤȡİȫıİȚȢțĮȚȠȚțȓȞįȣȞȠȚʌȠȣıȤİIJȓȗȠȞIJĮȚ
ȝİIJȘȝİIJĮijȠȡȐIJȠȣʌȡȠȧȩȞIJȠȢʌȡȠȢ
İʌȚıțİȣȒıIJȠȞȝİIJĮʌȦȜȘIJȒȒʌȡȠȢIJȠ
ǼȟȠȣıȚȠįȠIJȘȝȑȞȠȈȑȡȕȚȢIJȘȢ%6+ȅȚțȚĮ
țȑȢȈȣıțİȣȑȢǹǺǼ

5REHUW%RVFK+DXVJHUlWH*PE+
HO
ǵȜİȢȠȚİʌȚıțİȣȑȢIJȘȢİȖȖȪȘıȘȢʌȡȑʌİȚ
ȞĮȖȓȞȠȞIJĮȚĮʌȩIJȠǼȟȠȣıȚȠįȠIJȘȝȑȞȠ
ȈȑȡȕȚȢȘIJȠİȟȠȣıȚȠįȠIJȘȝȑȞȠıȣȞİȡȖİȓȠ
IJȘȢ%6+ȅȚțȚĮțȑȢȈȣıțİȣȑȢǹǺǼ
ǾİȖȖȪȘıȘįİȞțĮȜȪʌIJİȚțĮȞȑȞĮʌȡȠȧȩȞ
ʌȠȣȤȡȘıȚȝȠʌȠȚİȓIJĮȚʌȑȡĮȞIJȦȞʌȡȠįȚĮ
ȖȡĮijȫȞȖȚĮIJȚȢȠʌȠȓİȢțĮIJĮıțİȣȐıIJȘțİ
ʌȤȠȚțȚĮțȒȤȡȒıȘ
ǾİȖȖȪȘıȘțĮȜȒȢȜİȚIJȠȣȡȖȓĮȢʌȠȣ
ʌĮȡȑȤİIJĮȚĮʌȩIJȠȞțĮIJĮıțİȣĮıIJȒʌĮȪİȚ
ĮȞĮʌȠțȠȜȜȘșȠȪȞĮȜȜȠȚȦșȠȪȞȒIJȡȠ
ʌȠʌȠȚȘșȠȪȞȝİȠʌȠȚȠįȒʌȠIJİIJȡȩʌȠȠȚ
IJĮȚȞȓİȢĮıijĮȜİȓĮȢȒȠȚİȚįȚțȑȢįȚĮțȡȚIJȚțȑȢ
ĮȣIJȠțȩȜȜȘIJİȢİIJȚțȑIJİȢİʌȓIJȦȞȠʌȠȓȦȞ
ĮȞĮȖȡȐijİIJĮȚȠĮȡȚșȝȩȢıİȚȡȐȢȒȘȘȝİ
ȡȠȝȘȞȓĮĮȖȠȡȐȢ
ǾİȖȖȪȘıȘįİȞțĮȜȪʌIJİȚ
±ǼʌȚıțİȣȑȢȝİIJĮIJȡȠʌȑȢȒțĮșĮȡȚıȝȠȪȢ
ʌȠȣȑȜĮȕĮȞȤȫȡĮıİțȑȞIJȡȠVHUYLFHȝȘ
İȟȠȣıȚȠįȠIJȘȝȑȞȠĮʌȩIJȘȞ%6+ȅȚțȚĮ
țȑȢȈȣıțİȣȑȢǹǺǼ
±ȁȐșȠȢȤȡȒıȘȣʌİȡȕȠȜȚțȒȤȡȒıȘȤİȚ
ȡȚıȝȩȒȜİȚIJȠȣȡȖȓĮIJȠȣʌȡȠȧȩȞIJȠȢțĮIJȐ
IJȡȩʌȠȝȘıȪȝijȦȞȠȝİIJȚȢȠįȘȖȓİȢʌȠȣ
ʌİȡȚȑȤȠȞIJĮȚıIJĮİȖȤİȚȡȓįȚĮȤȡȒıȘȢțĮȚȒ
ıIJĮıȤİIJȚțȐȑȖȖȡĮijĮȤȡȒıȘȢıȣȝʌİ
ȡȚȜĮȝȕĮȞȠȝȑȞȦȞIJȘȢʌȜȘȝȝİȜȠȪȢ
ijȪȜĮȟȘȢIJȘȢıȣıțİȣȒȢIJȘȢʌIJȫıȘȢ
IJȘȢıȣıțİȣȒȢțȜʌ
±ȆȡȠȧȩȞIJĮȝİįȣıĮȞȐȖȞȦıIJȠĮȡȚșȝȩ
ıİȚȡȐȢ
±ǽȘȝȚȑȢʌȠȣʌȡȠțĮȜȠȪȞIJĮȚİȞįİȚțIJȚțȐ
ĮʌȩĮıIJȡĮʌȑȢȞİȡȩȒȣȖȡĮıȓĮijȦIJȚȐ
ʌȩȜİȝȠįȘȝȩıȚİȢĮȞĮIJĮȡĮȤȑȢȜȐșȠȢ
IJȐıİȚȢIJȠȣįȚțIJȪȠȣʌĮȡȠȤȒȢȡİȪȝĮIJȠȢ
ȒȠʌȠȚȠįȒʌȠIJİȜȩȖȠʌȠȣİȓȞĮȚʌȑȡĮȞ
ĮʌȩIJȠȞȑȜİȖȤȠIJȠȣțĮIJĮıțİȣĮıIJȒȒ
IJȠȣİȟȠȣıȚȠįȠIJȘȝȑȞȠȣıȣȞİȡȖİȓȠȣ
ǾİȖȖȪȘıȘʌȠȣʌȡȠıijȑȡİIJĮȚʌĮȪİȚȞĮ
ȚıȤȪİȚİijȩıȠȞȘțȣȡȚȩIJȘIJĮIJȘȢıȣıțİȣȒȢ
ȝİIJĮȕȚȕĮıIJİȓıİIJȡȓIJȠʌȡȩıȦʌȠĮʌȩIJȠȞ
ĮȡȤȚțȩĮȖȠȡĮıIJȒIJȠȩȞȠȝĮIJȠȣȠʌȠȓȠȣ
ĮȞĮȖȡȐijİIJĮȚıIJȠʌĮȡĮıIJĮIJȚțȩĮȖȠȡȐȢ
IJȘȢıȣıțİȣȒȢ
ǹȞIJȚțĮIJȐıIJĮıȘIJȘȢıȣıțİȣȒȢȖȓȞİIJĮȚ
ȝȩȞȠİijȩıȠȞįİȞİȓȞĮȚįȣȞĮIJȒȘİʌȚįȚ
ȩȡșȦıȘIJȘȢțĮIJȩʌȚȞʌȚıIJȠʌȠȓȘıȘȢIJȘȢ
ĮįȣȞĮȝȓĮȢİʌȚıțİȣȒȢĮʌȩIJȠǼȟȠȣıȚȠ
įȠIJȘȝȑȞȠȈȑȡȕȚȢȘIJȠİȟȠȣıȚȠįȠIJȘȝȑȞȠ
ıȣȞİȡȖİȓȠIJȘȢ%6+ȅȚțȚĮțȑȢȈȣıțİȣȑȢ
ǹǺǼ
ǾțȐșİİʌȚıțİȣȒȒȘĮȞIJȚțĮIJȐıIJĮıȘ
İȜĮIJIJȦȝĮIJȚțȠȪȝȑȡȠȣȢįİȞʌĮȡĮIJİȓȞİȚIJȠȞ
ȤȡȩȞȠİȖȖȪȘıȘȢIJȠȣʌȡȠȧȩȞIJȠȢ
ǼȟĮȡIJȒȝĮIJĮțĮȚȣȜȚțȐʌȠȣĮȞIJȚțĮșȚ
ıIJȫȞIJĮȚțĮIJȐIJȘįȚȐȡțİȚĮIJȘȢİȖȖȪȘıȘȢ
İʌȚıIJȡȑijȠȞIJĮȚıIJȠıȣȞİȡȖİȓȠ
ȂİİʌȚijȪȜĮȟȘȖȚĮIJȚȢȩʌȠȚİȢĮȜȜĮȖȑȢ

3+$
GH WU
*YHQOLNX\DUÕODUÕ
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%XFLKD]HYGHNXOODQÕP\DGDHYRUWDPÕQDEHQ]HUWLFDULROPD\DQ
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GH\LPL\OH|UQH÷LQGNNDQEURWDUÕPVDOYHEDúNDLúOHWPHOHULQ
SHUVRQHOE|OPOHULQGHD\UÕFDSDQVL\RQNoNRWHOYHEHQ]HU
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NDVWHGLOPHNWHGLU
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YHNXOODQÕFÕEDNÕPÕ\DSPDVÕ\DVDNWÕU
&LKD]\DOQÕ]FDHOHNWULNNDEORVXQGDYHFLKD]ÕQJ|YGHVLQGHKLoELU
KDVDUJ|UQPHGL÷LWDNGLUGHNXOODQÕOPDOÕGÕU
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ȼɤɚɡɿɜɤɢɡɬɟɯɧɿɤɢɛɟɡɩɟɤɢ
ȱɧɫɬɪɭɤɰɿɸɡɟɤɫɩɥɭɚɬɚɰɿʀɬɪɟɛɚɭɜɚɠɧɨɩɪɨɱɢɬɚɬɢɞɿɹɬɢɜɿɞɧɨɫɧɨ
ɞɨɜɤɚɡɿɜɨɤɳɨɦɿɫɬɹɬɶɫɹɜɧɿɣɿɞɨɛɪɟɡɛɟɪɿɝɚɬɢ
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Ⱦɚɧɢɣɩɪɢɥɚɞɩɪɢɡɧɚɱɟɧɢɣɞɥɹɞɨɦɚɲɧɶɨɝɨɜɢɤɨɪɢɫɬɚɧɧɹ
ɚɛɨɞɥɹɜɢɤɨɪɢɫɬɚɧɧɹɜɧɟɤɨɦɟɪɰɿɣɧɿɣɩɨɛɭɬɨɜɿɣɫɟɪɟɞɿ
ɉɨɛɭɬɨɜɚɫɟɪɟɞɚɜɤɥɸɱɚɽɫɥɭɠɛɨɜɿɡɨɧɢɜɦɚɝɚɡɢɧɚɯɨɮɿɫɚɯ
ɫɿɥɶɫɶɤɨɝɨɫɩɨɞɚɪɫɶɤɢɯɬɚɿɧɲɢɯɦɚɥɢɯɩɿɞɩɪɢɽɦɫɬɜɚɯɚɬɚɤɨɠ
ɡɨɧɢɞɥɹɝɨɫɬɟɣɜɝɨɬɟɥɹɯɬɢɩɭ³ɧɨɱɿɜɥɹɬɚɫɧɿɞɚɧɨɤ´ɦɚɥɢɯ
ɝɨɬɟɥɹɯɬɚɠɢɬɥɨɜɢɯɛɭɞɿɜɥɹɯɚɧɚɥɨɝɿɱɧɨɝɨɬɢɩɭ
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ɇɟɛɟɡɩɟɤɚɜɪɚɠɟɧɧɹɟɥɟɤɬɪɢɱɧɢɦɫɬɪɭɦɨɦɿɩɨɠɟɠɿ
ɉɪɢɥɚɞɞɨɡɜɨɥɹɽɬɶɫɹɩɿɞ¶ɽɞɧɭɜɚɬɢɿɟɤɫɩɥɭɚɬɭɜɚɬɢɥɢɲɟ
ɜɿɞɩɨɜɿɞɧɨɞɨɞɚɧɢɯɧɚɡɚɜɨɞɫɶɤɿɣɬɚɛɥɢɱɰɿ
Ⱦɿɬɹɦɜɿɤɨɦɞɨɪɨɤɿɜɡɚɛɨɪɨɧɹɽɬɶɫɹɤɨɪɢɫɬɭɜɚɬɢɫɹɩɪɢɥɚɞɨɦ
ɐɢɦɢɩɪɢɥɚɞɚɦɢɞɨɡɜɨɥɹɽɬɶɫɹɤɨɪɢɫɬɭɜɚɬɢɫɹɞɿɬɹɦɜɿɤɨɦ
ɩɨɧɚɞɪɨɤɿɜɿɨɫɨɛɚɦɡɨɛɦɟɠɟɧɢɦɢɩɫɢɯɿɱɧɢɦɢɱɭɬɬɽɜɢɦɢ
ɚɛɨɪɨɡɭɦɨɜɢɦɢɡɞɚɬɧɨɫɬɹɦɢɚɛɨɧɟɞɨɫɬɚɬɧɿɦɞɨɫɜɿɞɨɦɬɚɚɛɨ
ɧɟɞɨɫɬɚɬɧɿɦɢɡɧɚɧɧɹɦɢɹɤɳɨɜɨɧɢɡɧɚɯɨɞɹɬɶɫɹɩɿɞɧɚɝɥɹɞɨɦ
ɚɛɨɩɪɨɣɲɥɢɜɿɞɩɨɜɿɞɧɢɣɿɧɫɬɪɭɤɬɚɠɫɬɨɫɨɜɧɨɛɟɡɩɟɱɧɨɝɨ
ɜɢɤɨɪɢɫɬɚɧɧɹɩɪɢɥɚɞɭɬɚɡɪɨɡɭɦɿɥɢɧɟɛɟɡɩɟɤɭɳɨɧɟɫɟɜɫɨɛɿ
ɩɪɢɥɚɞȾɿɬɹɦɡɚɛɨɪɨɧɹɽɬɶɫɹɝɪɚɬɢɫɹɡɩɪɢɥɚɞɨɦȾɿɬɹɦɹɤɿ
ɧɟɩɟɪɟɛɭɜɚɸɬɶɩɿɞɧɚɝɥɹɞɨɦɧɟɞɨɡɜɨɥɹɽɬɶɫɹɡɞɿɣɫɧɸɜɚɬɢ
ɨɱɢɳɟɧɧɹɬɚɪɨɛɨɬɢɡɬɟɯɧɿɱɧɨɝɨɨɛɫɥɭɝɨɜɭɜɚɧɧɹɩɪɢɥɚɞɭ
Ⱦɨɡɜɨɥɹɽɬɶɫɹɤɨɪɢɫɬɭɜɚɬɢɫɹɩɪɢɥɚɞɨɦɥɢɲɟɹɤɳɨɲɧɭɪɿɫɚɦ
ɩɪɢɥɚɞɧɟɩɨɲɤɨɞɠɟɧɿ
ɉɿɫɥɹɤɨɪɢɫɬɭɜɚɧɧɹɚɛɨɩɪɢɧɟɫɩɪɚɜɧɨɫɬɹɯɜɢɬɹɝɭɣɬɟɲɬɟɩɫɟɥɶɡ
ɪɨɡɟɬɤɢ
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ɩɨɲɤɨɞɠɟɧɢɣɲɧɭɪɞɨɡɜɨɥɹɽɬɶɫɹɥɢɲɟɜɧɚɲɿɣɫɟɪɜɿɫɧɿɣ
ɦɚɣɫɬɟɪɧɿ

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ɒɧɭɪ
Ɣ ɧɟɩɨɜɢɧɟɧɬɨɪɤɚɬɢɫɹɝɚɪɹɱɢɯɩɪɟɞɦɟɬɿɜ
Ɣ ɧɟɦɨɠɧɚɬɹɝɧɭɬɢɱɟɪɟɡɝɨɫɬɪɿɤɪɚʀ
Ɣ ɧɟɦɨɠɧɚɜɢɤɨɪɢɫɬɨɜɭɜɚɬɢɞɥɹɩɟɪɟɧɟɫɟɧɧɹɩɪɢɥɚɞɭ
ɉɟɪɟɞɨ
ɱɢɳɟɧɧɹɦɩɪɢɥɚɞɭɫɥɿɞɲɬɟɩɫɟɥɶɡɪɨɡɟɬɤɢ
ɇɿɤɨɥɢɧɟɡɚɧɭɪɸɣɬɟɩɪɢɫɬɪɿɣɭɜɨɞɭ
ɇɟɜɢɤɨɪɢɫɬɨɜɭɣɬɟɩɚɪɨɫɟɩɚɪɚɬɨɪ
ɓɿɬɤɚɧɚɝɪɿɜɚɽɬɶɫɹ
ɇɟɬɨɪɤɚɣɬɟɫɹɞɨɩɪɢɥɚɞɭɞɚɣɬɟɣɨɦɭɫɩɨɱɚɬɤɭɨɯɨɥɨɧɭɬɢ
ɇɟɜɢɤɨɪɢɫɬɨɜɭɜɚɬɢɧɚɡɨɜɫɿɦɦɨɤɪɨɦɭɚɛɨɲɬɭɱɧɨɦɭɜɨɥɨɫɫɿ
ɇɟɤɨɪɢɫɬɭɣɬɟɫɶɩɪɢɥɚɞɨɦɩɨɛɥɢɡɭɜɚɧɧɢɪɚɤɨɜɢɧɢ
ɱɢɿɧɲɢɯɽɦɧɨɫɬɟɣɜɹɤɢɯɦɿɫɬɢɬɶɫɹɜɨɞɚ
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ɡɚɝɪɨɡɭɧɚɜɿɬɶɡɜɢɦɤɧɟɧɢɦɠɢɜɥɟɧɧɹɦɜɢɦɢɤɚɣɬɟɩɪɢɥɚɞɡ
ɪɨɡɟɬɤɢɩɿɫɥɹɤɨɠɧɨɝɨɜɢɤɨɪɢɫɬɚɧɧɹɬɚɜɪɚɡɿɩɟɪɟɪɜɢɜɪɨɛɨɬɿ
Ⱦɥɹɞɨɞɚɬɤɨɜɨʀɛɟɡɩɟɤɢɪɟɤɨɦɟɧɞɭɽɬɶɫɹɜɫɬɚɧɨɜɢɬɢɜ
ɟɥɟɤɬɪɨɦɟɪɟɠɿɩɪɢɫɬɪɿɣɡɚɯɢɫɧɨɝɨɜɢɦɢɤɚɧɧɹɧɨɦɿɧɚɥɶɧɢɣ
ɡɚɥɢɲɤɨɜɢɣɫɬɪɭɦɹɤɨɝɨɧɟɩɟɪɟɜɢɳɭɽɦȺɉɪɨɤɨɧɫɭɥɶɬɭɣɬɟɫɶ
ɡɟɥɟɤɬɪɢɤɨɦ
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3+$
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ɓɢɪɨɞɹɤɭɽɦɨȼɚɦɡɚɬɟɳɨȼɢɨɛɪɚɥɢ
ɩɪɢɥɚɞɤɨɦɩɚɧɿʀ%RVFK
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ȿɥɟɦɟɧɬɢɭɩɪɚɜɥɿɧɧɹɿ
ɤɨɦɩɥɟɤɬɭɸɱɿɞɟɬɚɥɿ
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Ʉɧɨɩɤɚɨɯɨɥɨɞɠɟɧɧɹ
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Ʉɧɨɩɤɚɪɨɡɦɢɤɚɧɧɹ
Ʉɪɭɝɥɚɳɿɬɤɚɡɤɨɦɛɿɧɨɜɚɧɨɸ
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ɇɿɤɨɥɢɧɟɜɿɞɤɪɢɜɚɬɢɨɬɜɿɪɧɚɝɧɿɬɚɱɚɚɛɨ
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Ⱦɥɹɡɦɿɧɢɞɟɬɚɥɿɧɚɬɢɫɧɭɬɢ
ɤɧɨɩɤɭɪɨɡɦɢɤɚɧɧɹɿɡɧɹɬɢ
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ɇɚɫɚɞɤɚɳɿɬɨɤ
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ɨɜɭɜɚɬɢɩɚɪɨɫɟɩɚɪɚɬɨɪ
Ɣɉɪɨɬɢɪɚɬɢɩɪɢɫɬɪɿɣɥɢɲɟɡɡɨɜɧɿɜɨɥɨ
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ɩɨɜɟɪɯɧɸ
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ƔɁɧɿɦɚɬɢɣɱɢɫɬɢɬɢɤɨɦɩɥɟɤɬɭɸɱɿɞɟɬɚɥɿ
ȼɢɤɨɪɢɫɬɨɜɭɜɚɬɢʀɯɡɧɨɜɭɬɿɥɶɤɢɩɿɫɥɹ
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ɉɿɞɤɥɸɱɟɧɧɹɞɨɠɢɜɥɟɧɧɹ
ɧɚɩɪɭɝɚɱɚɫɬɨɬɚ
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ɹɤɿɽɞɿɣɫɧɢɦɢɭɦɟɠɚɯȯɜɪɨɩɟɣɫɶɤɨɝɨ
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ɛɭɜɲɢɯɭɜɢɤɨɪɢɫɬɚɧɧɿɩɪɢɥɚɞɿɜɉɪɨɚɤɬɭ
ɚɥɶɧɿɦɨɠɥɢɜɨɫɬɿɞɥɹɜɢɞɚɥɟɧɧɹɦɨɠɧɚ
ɞɿɡɧɚɬɢɫɹɜɫɩɟɰɿɚɥɿɡɨɜɚɧɨɦɭɦɚɝɚɡɢɧɿ
Ƚɚɪɚɧɬɿɹ
Ƚɚɪɚɧɬɿɣɧɿɭɦɨɜɢɞɥɹɰɶɨɝɨɩɪɢɥɚɞɭ
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ɭɹɤɨɝɨɛɭɥɨɩɪɢɞɛɚɧɨɰɟɣɩɪɢɥɚɞɉɪɢ
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Ɇɨɠɥɢɜɿɡɦɿɧɢ
A

3+$
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Ⱦɚɧɧɵɣɩɪɢɛɨɪɩɪɟɞɧɚɡɧɚɱɟɧɞɥɹɞɨɦɚɲɧɟɝɨɢɫɩɨɥɶɡɨɜɚɧɢɹ
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Ⱦɟɬɹɦɜɜɨɡɪɚɫɬɟɥɟɬɢɫɬɚɪɲɟɚɬɚɤɠɟɥɢɰɚɦɫ
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Ɣ ɢɫɩɨɥɶɡɨɜɚɬɶɫɹɜɤɚɱɟɫɬɜɟɪɭɱɤɢɞɥɹɧɨɲɟɧɢɹɩɪɢɛɨɪɚ
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ɨɣɜɵɧɶɬɟɜɢɥɤɭɫɟɬɟɜɨɝɨɩɪɨɜɨɞɚɢɡɪɨɡɟɬɤɢ
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ɇɟɩɪɢɤɚɫɚɣɬɟɫɶɫɧɚɱɚɥɚɞɨɠɞɢɬɟɫɶɨɯɥɚɠɞɟɧɢɹɩɪɢɛɨɪɚ
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ɩɚɪɢɤɨɜ
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Ɉɩɚɫɧɨɫɬɶɞɥɹɠɢɡɧɢ
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Ⱦɨɩɨɥɧɢɬɟɥɶɧɭɸɡɚɳɢɬɭɨɛɟɫɩɟɱɢɜɚɟɬɜɫɬɪɚɢɜɚɧɢɟɚɜɬɨɦɚɬɚ
ɡɚɳɢɬɧɨɝɨɨɬɤɥɸɱɟɧɢɹɞɨɦ$ɜɷɥɟɤɬɪɨɩɪɨɜɨɞɤɭɡɞɚɧɢɹ
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3+$
GH UX
ɉɨɡɞɪɚɜɥɹɟɦɫɩɪɢɨɛɪɟɬɟɧɢɟɦɞɚɧɧɨɝɨ
ɩɪɢɛɨɪɚɤɨɦɩɚɧɢɢ%RVFK
ȼɵɩɪɢɨɛɪɟɥɢɜɵɫɨɤɨɤɚɱɟɫɬɜɟɧɧɨɟ
ɢɡɞɟɥɢɟɤɨɬɨɪɨɟɞɨɫɬɚɜɢɬȼɚɦɦɚɫɫɭ
ɭɞɨɜɨɥɶɫɬɜɢɹ
ɗɬɚɢɧɫɬɪɭɤɰɢɹɩɨɷɤɫɩɥɭɚɬɚɰɢɢɨɩɢɫɵ
ɜɚɟɬɮɟɧɳɟɬɤɭɫɩɪɢɧɚɞɥɟɠɧɨɫɬɹɦɢ
ɗɥɟɦɟɧɬɵɭɩɪɚɜɥɟɧɢɹ
ɢɩɪɢɧɚɞɥɟɠɧɨɫɬɢ
ɉɟɪɟɤɥɸɱɚɬɟɥɶɪɟɠɢɦɨɜɮɟɧɚ
ɪɟɠɢɦɚɩɨɞɚɱɢɧɚɝɪɟɬɨɝɨɜɨɡɞɭɯɚ
Ʉɧɨɩɤɚɩɨɞɚɱɢɯɨɥɨɞɧɨɝɨɜɨɡɞɭɯɚ3
Ʉɧɨɩɤɚɪɚɡɛɥɨɤɢɪɨɜɚɧɢɹ
Ʉɪɭɝɥɚɹɳɟɬɤɚɫɪɚɡɥɢɱɧɵɦɢɡɭɛɶɹɦɢ
ɦɦ
Ʉɪɭɝɥɚɹɳɟɬɤɚ
ɗɤɫɩɥɭɚɬɚɰɢɹ
ɇɢɜɤɨɟɦɫɥɭɱɚɟɧɟɡɚɤɪɵɜɚɣɬɟɨɬɜɟɪ
ɫɬɢɟɜɟɧɬɢɥɹɬɨɪɚɢɥɢɜɨɡɞɭɯɨɡɚɛɨɪɧɨɟ
ɨɬɜɟɪɫɬɢɟ
ɋɥɟɞɢɬɟɡɚɬɟɦɱɬɨɛɵɜɜɨɡɞɭɯɨɡɚɛɨɪɧɨɦ
ɨɬɜɟɪɫɬɢɢɧɟɫɤɚɩɥɢɜɚɥɢɫɶɜɨɪɫɢɧɤɢ
ɢɜɨɥɨɫɵɉɪɢɩɟɪɟɝɪɟɜɟɜɵɡɜɚɧɧɨɦ
ɧɚɩɪɢɦɟɪɡɚɤɪɵɜɚɧɢɟɦɜɨɡɞɭɯɨɡɚɛɨɪɧɨɝɨ
ɨɬɜɟɪɫɬɢɹɳɟɬɤɚɞɥɹɝɨɪɹɱɟɣɭɤɥɚɞɤɢ
ɜɨɥɨɫɚɜɬɨɦɚɬɢɱɟɫɤɢɨɬɤɥɸɱɚɟɬɫɹɢɱɟɪɟɡ
ɧɟɫɤɨɥɶɤɨɦɢɧɭɬɜɤɥɸɱɚɟɬɫɹɫɧɨɜɚȾɥɹ
ɧɚɫɚɞɤɢɜɫɟɯɩɪɢɧɚɞɥɟɠɧɨɫɬɟɣɫɨɜɦɟ
ɫɬɢɬɟɦɟɬɤɢ
Ɣɢɡɚɛɥɨɤɢɪɭɣɬɟɩɪɢɧɚɞɥɟɠ
ɧɨɫɬɶɩɨɜɨɪɨɬɨɦɧɚɦɟɬɤɭź
Ⱦɥɹɡɚɦɟɧɵɩɪɢɧɚɞɥɟɠɧɨɫɬɢ
ɧɚɠɦɢɬɟɧɚɤɧɨɩɤɭɪɚɡɛɥɨ
ɤɢɪɨɜɚɧɢɹɢɨɬɫɨɟɞɢɧɢɬɟ
ɩɪɢɧɚɞɥɟɠɧɨɫɬɶɩɨɜɟɪɧɭɜɟɟ
ɜɨɛɪɚɬɧɨɦɧɚɩɪɚɜɥɟɧɢɢ
ɓɟɬɤɢ
ȼɵɛɟɪɢɬɟɳɟɬɤɭɜɡɚɜɢɫɢɦɨɫɬɢɨɬɞɥɢɧɵ
ɜɨɥɨɫɢɬɪɟɛɭɟɦɨɣɩɪɢɱɟɫɤɢɢɭɫɬɚɧɨɜɢɬɟ
ɟɟɧɚɪɭɱɤɭɇɚɤɪɭɬɢɬɟɬɨɧɤɢɟɩɪɹɞɢ
ɩɪɨɫɭɲɟɧɧɵɯɩɨɥɨɬɟɧɰɟɦɜɨɥɨɫɧɚɳɟɬɤɭ
ɜɧɚɩɪɚɜɥɟɧɢɢɨɬɤɨɧɱɢɤɨɜɜɨɥɨɫ
ɍɫɬɚɧɨɜɢɬɟɩɟɪɟɤɥɸɱɚɬɟɥɶ
ɧɚɪɟɠɢɦƔ©ɦɚɥɵɣɧɚɝɪɟɜ
ɬɟɩɥɵɣɜɨɡɞɭɯªɢɥɢƔƔ
©ɫɢɥɶɧɵɣɧɚɝɪɟɜɝɨɪɹɱɢɣ
ɜɨɡɞɭɯªɢɩɪɨɫɭɲɢɬɟɩɪɹɞɢ
ɜɨɥɨɫɬɟɩɥɵɦɜɨɡɞɭɯɨɦ
ɇɚɠɦɢɬɟɧɚɤɧɨɩɤɭɩɨɞɚɱɢ
ɯɨɥɨɞɧɨɝɨɜɨɡɞɭɯɚɞɥɹ
ɮɢɤɫɚɰɢɢɢɭɤɥɚɞɤɢɥɨɤɨɧɚ
ɛɨɥɟɟɯɨɥɨɞɧɵɦɜɨɡɞɭɯɨɦ
Ⱦɨɩɨɥɧɢɬɟɥɶɧɭɸɢɧɮɨɪɦɚɰɢɸɨɛɭɤɥɚɞɤɟ
ɜɨ
ɥɨɫɫɩɨɦɨɳɶɸɩɪɢɛɨɪɨɜ%RVFKɦɨɠɧɨ
ɧɚɣɬɢɧɚɜɟɛɫɚɣɬɟ
ZZZERVFKSHUVRQDOVW\OHFRP
ɏɪɚɧɟɧɢɟ
ɉɪɟɠɞɟɱɟɦɩɨɥɨɠɢɬɶɩɪɢɛɨɪɧɚɦɟɫɬɨ
ɞɨɠɞɢɬɟɫɶɩɨɤɚɨɧɨɫɬɵɧɟɬɢɜɵɧɶɬɟ
ɲɬɟɤɟɪɢɡɪɨɡɟɬɤɢ

5REHUW%RVFK+DXVJHUlWH*PE+
UX
ɑɢɫɬɤɚ
¡
Ɉɩɚɫɧɨɫɬɶɩɨɪɚɠɟɧɢɹɬɨɤɨɦ
ɉɟɪɟɞɨɱɢɫɬɤɨɣɩɪɢɛɨɪɚɞɨɠɞɢɬɟɫɶɩɨɤɚ
ɨɧɨɫɬɵɧɟɬɢɜɵɧɶ
ɬɟɲɬɟɤɟɪɢɡɪɨɡɟɬɤɢ
ɇɢɜɤɨɟɦɫɥɭɱɚɟɧɟɩɨɝɪɭɠɚɣɬɟɩɪɢɛɨɪ
ɜɜɨɞɭ
ɇɟɩɨɥɶɡɭɣɬɟɫɶɭɫɬɪɨɣɫɬɜɚɦɢɩɚɪɨɜɨɣ
ɱɢɫɬɤɢ
Ɣɉɪɨɬɢɪɚɣɬɟɩɪɢɛɨɪɫɧɚɪɭɠɢɢɫɩɨɥɶɡɭɹ
ɜɷɬɢɯɰɟɥɹɯɬɨɥɶɤɨɜɥɚɠɧɭɸɬɪɹɩɤɭ
ɇɟɢɫɩɨɥɶɡɭɣɬɟɞɥɹɷɬɨɝɨɨɫɬɪɵɟɢɥɢ
ɰɚɪɚɩɚɸɳɢɟɩɪɟɞɦɟɬɵ
ƔɊɟɝɭɥɹɪɧɨɩɪɨɱɢɳɚɣɬɟɦɹɝɤɨɣɤɢɫɬɶɸ
ɪɟɲɟɬɤɭɜɨɡɞɭɯɨɡɚɛɨɪɧɨɝɨɨɬɜɟɪɫɬɢɹ
Ɣɋɧɢɦɢɬɟɩɪɢɧɚɞɥɟɠɧɨɫɬɢɢɩɪɨɢɡɜɟ
ɞɢɬɟɢɯɱɢɫɬɤɭɉɨɜɬɨɪɧɨɟɩɨɥɶɡɨɜɚɧɢɟ
ɢɦɢɜɨɡɦɨɠɧɨɬɨɥɶɤɨɩɨɫɥɟɩɨɥɧɨɣ
ɩɪɨɫɭɲɤɢ
Ɍɟɯɧɢɱɟɫɤɢɟ
ɯɚɪɚɤɬɟɪɢɫɬɢɤɢ
ɉɚɪɚɦɟɬɪɵ
ɷɥɟɤɬɪɨɩɢɬɚɧɢɹ
ɧɚɩɪɹɠɟɧɢɟɱɚɫɬɨɬɚ
ȼ
Ƚɰ
Ɇɨɳɧɨɫɬɶ ȼɬ
ɍɬɢɥɢɡɚɰɢɹ
ɍɬɢɥɢɡɢɪɭɣɬɟɭɩɚɤɨɜɤɭɫɢɫɩɨɥɶɡɨɜɚɧɢɟɦ
ɷɤɨɥɨɝɢɱɟɫɤɢɛɟɡɨɩɚɫɧɵɯɦɟɬɨɞɨɜ
Ⱦɚɧɧɵɣɩɪɢɛɨɪɢɦɟɟɬɨɬɦɟɬɤɭɨɫɨɨɬ
ɜɟɬɫɬɜɢɢɟɜɪɨɩɟɣɫɤɢɦɧɨɪɦɚɦ(*
ɭɬɢɥɢɡɚɰɢɢɷɥɟɤɬɪɢɱɟɫɤɢɯɢɷɥɟɤɬɪɨɧɧɵɯ
ɩɪɢɛɨɪɨɜZDVWHHOHFWULFDODQGHOHFWURQLF
HTXLSPHQW±:(((Ⱦɚɧɧɵɟɧɨɪɦɵ
ɨɩɪɟɞɟɥɹɸɬɞɟɣɫɬɜɭɸɳɢɟɧɚɬɟɪɪɢɬɨɪɢɢ
ȿɜɪɨɫɨɸɡɚɩɪɚɜɢɥɚɜɨɡɜɪɚɬɚɢɭɬɢɥɢ
ɡɚɰɢɢɫɬɚɪɵɯɩɪɢɛɨɪɨɜɂɧɮɨɪɦɚɰɢɸɨɛ
ɚɤɬɭɚɥɶɧɵɯɜɨɡɦɨɠɧɨɫɬɹɯɭɬɢɥɢɡɚɰɢɢȼɵ
ɦɨɠɟɬɟɩɨɥɭɱɢɬɶɜɦɚɝɚɡɢɧɟɜɤɨɬɨɪɨɦ
ȼɵɩɪɢɨɛɪɟɥɢɩɪɢɛɨɪ
ɍɫɥɨɜɢɹɝɚɪɚɧɬɢɣɧɨɝɨ
ɨɛɫɥɭɠɢɜɚɧɢɹ
ɉɨɥɭɱɢɬɶɢɫɱɟɪɩɵɜɚɸɳɭɸɢɧɮɨɪɦɚɰɢɸ
ɨɛɭɫɥɨɜɢɹɯɝɚɪɚɧɬɢɣɧɨɝɨɨɛɫɥɭɠɢɜɚɧɢɹ
ȼɵɦɨɠɟɬɟɜȼɚɲɟɦɛɥɢɠɚɣɲɟɦɚɜɬɨɪɢ
ɡɨɜɚɧɧɨɦɫɟɪɜɢɫɧɨɦɰɟɧɬɪɟɢɥɢɜ
ɫɟɪɜɢɫɧɨɦɰɟɧɬɪɟɨɬɩɪɨɢɡɜɨɞɢɬɟɥɹɈɈɈ
©ȻɋɏȻɵɬɨɜɚɹɬɟɯɧɢɤɚªɚɬɚɤɠɟɧɚɣɬɢɜ
ɮɢɪɦɟɧɧɨɦɝɚɪɚɧɬɢɣɧɨɦɬɚɥɨɧɟɜɵɞɚ
ɜɚɟɦɨɦɩɪɢɩɪɨɞɚɠɟ
Ɇɵɨɫɬɚɜɥɹɟɦɡɚɫɨɛɨɣɩɪɚɜɨɧɚ
ɜɧɟɫɟɧɢɟɢɡɦɟɧɟɧɢɣ
A

3+$
GH
DU
A
ίΎϬΟϟϥϣιϠΧΗϟ
υΎϔΣϟϡϋΩϳΏϭϠγ΄ΑίΎϬΟϟΓϭΑϋϥϣιϠΧΗ
ΔϳΑϟϰϠϋ
ΔϳΑέϭϷΔϔλϭϣϠϟϕΑΎρϣίΎϬΟϟΫϫ
ΔϳΑέϭϷΔϳΩΎλΗϗϻΔϋϭϣΟϣϟ
ΔϳϧϭέΗϛϟϹϭΔϳΎΑέϬϛϟΓίϬΟϷΎΑΔλΎΧϟ
ΔϣϳΩϘϟ
ZDVWHHOHFWULFDODQG
HOHFWURQLFHTXLSPHQW±:(((
ΩϋϭϘϟϡΎόϟέΎρϹΩΩΣΗΔϔλϭϣϟϩΫϫϭ
ϲΑέϭϷΩΎΣΗϻϝϭΩϊϳϣΟϲϓϱέγΗ
ΓΩΎϋ·ϭΔϣϳΩϘϟΓίϬΟϷΓΩΎόΗγιϭλΧΑ
ΎϬϟϼϐΗγ
ΙΩΣΔϓέόϣϟϲϠΣϣϟϡϛϋίϭϣΓέΎηΗγΎΑϲϣϭϗ
ΓίϬΟϻϥϣιϠΧΗϠϟΎϳϟΎΣΔόΑΗϣϟΔϣυϧϻ
ΔϣϳΩϘϟ
ϥΎϣοϟ
ϝΑϗϥϣίΎϬΟϟΫϬϟϥΎϣοϟρϭέηΩϳΩΣΗϡΗϳ
ίΎϬΟϟϊϳΑΎϬϳϓϡΗϳϲΗϟΔϟϭΩϟϲϓΎϧϠΛϣϣ
ϥϣρϭέηϟϩΫϫϝϳλΎϔΗϰϠϋϝϭλΣϟϙϧϛϣϳ
ϰΟέϳίΎϬΟϟϪϧϣΕϳέΗηϱΫϟωίϭϣϟϝΑϗ
ϝΎΣϲϓ˯έηϟϝΎλϳ·ϭΓέϭΗΎϓέΎοΣ·
ϥΎϣοϟϪϳρϐϳΉέΎρϱϙίΎϬΟΏΎλ
ΕϼϳΩόΗΔϳ˯έΟ·ϲϓΎϧϘΣΑυϔΗΣϧ
ΔϳϧϔϟΕΎϔλϭϣϟ
Εϟϭϓ
ίΗέϫ
˯ΎΑέϬϛϟΎΑϝϳλϭΗϟ
ΩΩέΗϟௗௗΩϬΟϟ
Εϭ
ΓέΩϘϟ

5REHUW%RVFK+DXVJHUlWH*PE+
ΫϫϡϛέηϰϠϋϲϧΎϬΗϟϕΩλ΄ΑϡϛϟϡΩϘΗϧ
%RVFKΔϛέηϥϣΞΗϧϣϟίΎϬΟϟ
ϰϠϋίΎϬΟϡϛϟέϓϭΗϳίΎϬΟϟΫϬϟϡϛέηΑ
έϭέγϟΙόΑϳγΎϣϣΓΩϭΟϟϥϣϲϟΎϋϯϭΗγϣ
ΓέϣϝϛϲϓϪϟΎϣόΗγΩϧϋϡϛγϔϧϲϓ
ϡΩΧΗγΔϘϳέρΡέηΗϩΫϫϝΎϣόΗγϻΕΎϣϳϠόΗ
ϊϣϥΧΎγϟ˯ϭϬϟΎΑέόηϟϥϳϳίΗΓΎηέϓ
ΎϬΗΎϘΣϠϣ
ΔϳϓΎοϹϭΔϣΩΧΗγϣϟ˯ίΟϷ
ϥϳΗΟέΩΑΙϔϧϟΓέέΣϟΔΟέΩέί
ΩϳέΑΗϟέί
ϙϳϛϔΗϟέί
ϡϣωϭϧΗϣέόηΑΓέϭΩϣΓΎηέϓ
έρϗΓέϭΩϣΓΎηέϓ
ϝΎϣόΗγϻ
˯ϭϬϟΏΣγΫϔϧϣϭΦϔϧϟΔΣΗϓΩΑϲρϐΗϻ
ρϭϳΧϟϭέόηϟϕϠόϳϻϥϰϠϋϲλέΣϭ
ϥϳΧγΗϟΔϟΎΣϲϓ˯ϭϬϟΏΣγΔΣΗϓϲϓ
ΔΣΗϓΔϳρϐΗΩϧϋΙΩΣϳΎϣϛˬίΎϬΟϠϟρέϔϣϟ
ϑϳϔλΗΓΎηέϓΎϳϟ˯ϲϔρϧΗγˬ˯ϭϬϟΏΣγ
ϝϣόϟΩϭΎόΗϡΛέΎΣϟ˯ϭϬϟϰϠϋΔϠϣΎόϟέόηϟ
ϕΎϗΩΓΩϋΩόΑ
ϰϠϋΎϬϳΗΑΛϡΛƔΓέΎη·ϰϠϋίΎϬΟϟΔϓΎϛϲόο
ΎϬΗέΩ·ϝϼΧϥϣ
źΓέΎη·
ϲρϐοϡΩΧΗγϣϟ˯ίΟϟέϳϳϐΗϟ
ΫϫϲϠλϓϡΛ
ΗϔϟέίϰϠϋ
αϛϋϲϓϪΗέΩ·ϕϳέρϥϋ˯ίΟϟ
ϪΑΣγϭϩΎΟΗϻ
ϲθέϔϟ
έόηϟϝϭρΏγΣΔΑγΎϧϣϟΓΎηέϔϟϱέΎΗΧ
ίΎϬΟϟϰϠϋΎϬϳΗΑΛϡΛΓΫΑΣϣϟέόηϟΔΣϳέγΗϭ
ϝϭΣΔϔηϧϣϟΎΑΩϳΟΔϔϔΟϣϟέόηϟϝλΧϲϔϟ
ΝέΎΧϟϰϟ·έόηϟϝλϥϣ˯ΩΑΓΎηέϔϟ
ϲϠϐη
ƔΔΟέΩϟϰϠϋ
ϡϗέέίϟ
ƔƔΔΟέΩϟϭ˯ϲϓΩϝΩΗόϣ
ϑϳϔΟΗϝΟϥϣέΎΣΩϳΩη
˯ϭϬϟΎΑέόηϟΕϼλΧ
ΎϬϳϔϔλϭΕϼλΧϟϲΗΑΛϭέΎΣϟ
ϝϳϐηΗϝϼΧϥϣΩέΎΑϟ˯ϭϬϟΎΑ
ΩϳέΑΗϟέί
ϡΩΧΗγΎΑϑϳϔλΗϟϝϭΣΕΎϣϭϠόϣϟϥϣΩϳίϣϟ
ϊϗϭϣϟΓέΎϳίΑϭϠοϔΗˬ
%RVFKΓίϬΟ
ZZZERVFKSHUVRQDOVW\OHFRP
ΔϳΎϋέϟ
ϪϠλϓϭϪϧϳίΧΗϝΑϗΩέΑϳϟίΎϬΟϟϙέΗϰΟέϳ
ΔϳΎΑέϬϛϟΔϳΫϐΗϟϥϋ
ϑϳυϧΗϟ
¡
ΔϳΎΑέϬϛϟΔϣΩλϟέρΧ
ϪϠλϓϭΩέΑϳϟϪϛέΗϰΟέϳίΎϬΟϟϑϳυϧΗϝΑϗ
ΔϳΎΑέϬϛϟΔϳΫϐΗϟϥϋ
˯ΎϣϟϲϓίΎϬΟϟέϣϏΔϘϠρϣΓέϭλΑϭέυΣϳ
˯ΎϣϟέΎΧΑΑϝϣΎόϟϑυϧϣϟϡΩΧΗγϡΩϋΏΟϳ
ϝϳΩϧϣϡΩΧΗγΎΑΝέΎΧϟϥϣίΎϬΟϟϲΣγϣ
ΓΩΎΣϑϳυϧΗΕϭΩϲϣΩΧΗγΗϻρϘϓΏρέ
ΔηέΧϣϭ
ϡΩΧΗγΎΑϡΎυΗϧΎΑ˯ϭϬϟΏΣγΔϛΑηϲϔυϧ
ΔϣϋΎϧΓΎηέϓ
ΎϬϳϔυϧϭίΎϬΟϟΎΑΔϘΣϠϣϟ˯ίΟϷϲϠλϓ
ΎϣΎϣΗϑΟΗϥΩόΑϻ·ΔϳϧΎΛΎϬϳϣΩΧΗγΗϻϭ

3+$
GH
DU
ϑϳυϧΗϟϝΑϗϲΎΑέϬϛϟέΎϳΗϟΎΑΔϳΫϐΗϟαΑϘϣϥϣίΎϬΟϟαΑΎϗΝέΧ·ΏΟϳ
˯ΎϣϟϲϓέϣϏΔϘϠρϣΓέϭλΑϭέυΣϳ
ΔϳέΎΧΑϑϳυϧΗΓίϬΟϡΩΧΗγϡΩϋΏΟϳ
ΩέΑΩϗϥϭϛϳϰΗΣϪϛέΗϻϭΏΟϳˬαϣϠϟϡΩϋΏΟϳΔϧΧΎγΑλΗγΓΎηέϔϟ
ϲϋΎϧρλέόηϊϣϻϭ˯ΎϣϟϪϧϣρϘϧϳϝϠΑϣέόηϊϣΎϬϳϣΩΧΗγΗϻ
ϡΎϣΣΗγνϭΣϲϓΩϭΟϭϣ˯ΎϣϥϣΏέϘϟΎΑίΎϬΟϟϡΩΧΗγϡΩϋΏΟϳ
ϯέΧΕΎϳϭΎΣϭΔϳϋϭϭϝγϏνϭΣϭϭϳϧΎΑ
¡ ΓΎϳΣϟϰϠϋέρΧ
ϥΎϛϭϟϭϰΗΣΎοϳΎϣΎϗϥϭϛϳέρΧϟ˯ΎϣϊϣίΎϬΟϠϟαϣϼΗϱΙϭΩΣΏϧΟΗΏΟϳ
ΔϳΫϐΗϟαΑϘϣϥϣίΎϬΟϟαΑΎϗΝέΧ·ΏΟϳΏΑγϟΫϬϟˬϝϳϐηΗϟϑΎϘϳ·ϊοϭϲϓίΎϬΟϟ
˯ΎϧΛΔΗϗ΅ϣΓέϭλΑϝϳϐηΗϟϥϋϑϗϭΗϟΩϧϋϭϡΩΧΗγϻϥϣ˯ΎϬΗϧϻΩόΑϲΎΑέϬϛϟέΎϳΗϟΎΑ
ϡΩΧΗγϻ
ΓέΩϘΑϝρόϟέΎϳΗϥϣϲϗϭΓέΩϊρΎϗΏϳϛέΗϝϼΧϥϣΔϳϓΎο·ΔϳΎϣΣϕϳϘΣΗϥϛϣϳϭ
ϰΟέϳϙϟΫΑϕϠόΗϳΎϣϳϓΔϳϟίϧϣϟΔϳΎΑέϬϛϟΕΎΑϳϛέΗϟϕΎρϧϲϓέϳΑϣϲϠϣ
ϰΗΣϝλΗ
ΔϳΎΑέϬϛΕΎΑϳϛέΗϲϧϘΗΓέΎηΗγϡϛϧϣ
¡ ϕΎϧΗΧΙϭΩΣέρΧ
ϑϳϠϐΗϟΩϭϣΑΏόϠϟΎΑϝΎϔρϷΡΎϣγϟϡΩϋΏΟϳ

5REHUW%RVFK+DXVJHUlWH*PE+
DU
ΔϣϼγϟΕΩΎηέ·
ϥΎϛϣϲϓΎϬΑϲυϔΗΣϭΎϬϳϠϋϲλέΣϡΛˬΔϳΎϧόΑϡΩΧΗγϻΕΎϣϳϠόΗωΎΑΗϭΓ˯έϗ˯ΎΟέϟ
ϥϣ
έΧιΧηϟϪΗϳρϋΎϣΫ·ίΎϬΟϟϊϣΕΩΎηέϹϩΫϫϕΎϓέ·ΏΟϳ
ϭΔϳέΎΟΗέϳϐϟΕΎϳΑϟϲϓϡΩΧΗγϺϟϭϲϟίϧϣϟϡΩΧΗγϺϟΎ
˱
λϳλΧΩόϣίΎϬΟϟΫϫ
ΔλλΧϣϕρΎϧϣϰϠϋϝίϧϣϟΔϳΑΑΔϬϳΑηϟΕΎϳΑϟϝϣΗηΗϝίϧϣϟΎΑΔϬϳΑηϟΕΎϳΑϟ
ϕρΎϧϣϭΓέϳϐλϟΕΎϛέηϟϭΔϳϋέίϟϕρΎϧϣϟϭΏΗΎϛϣϟϭΕϼΣϣϟϲϓϝϣόϟϡϘρϷ
ΔϳϧϛγϟΕηϧϣϟϭΓέϳϐλϟϕΩΎϧϔϟϭϝί
˵
ϧϟϝΛϣϑϭϳοϟϝΑϗϥϣϡΩΧΗγϼϟΔλλΧϣ
ΔϬΑΎηϣϟ
¡ ϕϳέΣΙϭΩΣέρΧϭΔϳΎΑέϬϛΔϣΩλΙϭΩΣέρΧ
ΕΎϧΎϳΑΔΣϭϟϲϓΎϬϳϠϋιϭλϧϣϟΕΎϧΎϳΑϠϟΎϘϓϭϻ·ίΎϬΟϟϝϳϐηΗϭϝϳλϭΗϡΩϋΏΟϳ
ίέρϟ
ΕϭϧγϥϋϡϫέϣϋϝϘϳϝΎϔρϝΑϗϥϣίΎϬΟϟϝϳϐηΗέυΣϳ
ϥϋΩϳίϳΎϣϭΕϭϧγϡϫέϣϋώϠΑϳϝΎϔρϝΑϗϥϣΎϬϣΩΧΗγϡΗϳϥϥϛϣϳΓίϬΟϷϩΫϫ
ΓέΑΧϟϲϓιϘϧϭΓΩϭΩΣϣΔϳϧϫΫϭΔϳγΣϭΔϳϧΩΑΕέΩϗϱϭΫιΎΧηϝΑϗϥϣϭϙϟΫ
ϥΩόΑϭϡϬϳϠϋϑέηϹϱέΎΟϥϭϛϳΎϣΩϧϋϙϟΫϭˬΕΎϣϭϠόϣϟϭϑέΎόϣϟϲϓιϘϧϭϭ
ϭϧϭϛϳϥΩόΑϭίΎϬΟϠϟϥϣϵϡΩΧΗγϻΔϳϔϳϛϥ΄ηΑΔϳϠϳλϔΗΕΩΎηέ·ϡϬΎρϋ·ϡΗΩϗϥϭϛϳ
ϥ΄ΑϝΎϔρϸϟΡΎϣγϟϡΩϋΏΟϳίΎϬΟϟϡΩΧΗγϰϠϋΔΑΗέΗϣϟέΎρΧϷΩϳΟϭϣϬϓΩϗ
ίΎϬΟϟΎΑΏόϠϟΎΑϭϣϭϘϳ
ϥϥϭΩΑϝΎϔρϝΑϗϥϣϡΩΧΗγϣϟϝΑϗϥϣίΎϬΟϟΔϧΎϳλϭϑϳυϧΗϝΎϣϋ˯έΟΈΑϣγϳϻ
ϙϟΫΑϡϬϣΎϳϗΩϧϋϡϬϳϠϋϑέηϹϱέΎΟϥϭϛϳ
ΔϣϳϠγΔϟΎΣϲϓίΎϬΟϟϭ˯ΎΑέϬϛϟΎΑΩΩϣϹϝΑϛϥϭϛϳΎϣΩϧϋϻ·ίΎϬΟϟϡΩΧΗγϡΩϋΏΟϳ
ϑϠΗϱΎϣϬΑαϳϟϭ
ϡΩΧΗγϻϥϣ˯ΎϬΗϧϻΩόΑϲΎΑέϬϛϟέΎϳΗϟΎΑΔϳΫϐΗϟαΑϘϣϥϣίΎϬΟϟαΑΎϗΝέΧ·ΏΟϳ
ϝϠΧΙϭΩΣΔϟΎΣϲϓϭΓέϣϝϛϲϓ
ϝΑϗϥϣϻ·ˬϑϟΎΗ˯ΎΑέϬϛϟΎΑΩΩϣ·ϝΑϛϝΩΑΗγϝΛϣˬΡϼλ·ϝΎϣϋΔϳ˯έΟΈΑϣγϳϻ
έρΧϠϟ˯ΎϳηϭιΎΧηνϳέόΗΏϧΟΗϟϙϟΫϭˬΎϧΗϛέηϟΔόΑΎΗϟ˯ϼϣόϟΔϣΩΧ
ϪοϳέόΗϡΩϋΏΟϳ˯ΎΑέϬϛϟΎΑΩΩϣϹϝΑϛ
•˭ΔϧΧΎγ˯ίΟϊϣαϣϼΗϠϟ
•˭ΓΩΎΣϑϭΣϕϭϓΏΣγϠϟ
•ίΎϬΟϟϝϣΣϟνΑϘϣϛϡΩΧΗγϼϟ


), 6XRPL)LQODQG
%6+.RGLQNRQHHW2\
,WlODKGHQNDWX$3/
+HOVLQNL
7HO
)D[
PDLOWR%RVFK6HUYLFH),#EVKJFRP
ZZZERVFKKRPHIL
/DQNDSXKHOLPHVWDVQWSXKHOX
VQWPLQDOY
0DWNDSXKHOLPHVWDVQWSXKHOX
VQWPLQDOY
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6$,1728(1FHGH[
6HUYLFHLQWHUYHQWLRQVjGRPLFLOH
6HUYLFH&RQVRPPDWHXUV
¼77&PQ
PDLOWRVRDERVFKFRQVR#EVKJFRP
6HUYLFH3LqFHV'pWDFKpHVHW
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¼77&PQ
ZZZERVFKKRPHIU
*% *UHDW%ULWDLQ
%6++RPH$SSOLDQFHV/WG
*UDQG8QLRQ+RXVH
2OG:ROYHUWRQ5RDG
:ROYHUWRQ
0LOWRQ.H\QHV0.37
7RDUUDQJHDQHQJLQHHUYLVLWWR
RUGHUVSDUHSDUWVDQGDFFHVVRULHV
RUIRUSURGXFWDGYLFHSOHDVHYLVLW
ZZZERVFKKRPHFRXN
RUFDOO
7HO
&DOOVIURPD%7ODQGOLQHZLOOEHFKDUJHGDW
XSWRSHQFHSHUPLQXWH$FDOOVHWXSIHH
RIXSWRSHQFHPD\DSSO\
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ZZZERVFKKRPHJU
+. +RQJ.RQJ㚅
%6++RPH$SSOLDQFHV/LPLWHG
8QLWUG)ORRU
1RUWK%ORFN6N\ZD\+RXVH
6KDP0RQJ5RDG
7DL.RN7VXL.RZORRQ
+RQJ.RQJ
7HO
)D[
PDLOWREVKKNJVHUYLFH#EVKJFRP
ZZZERVFKKRPHFQ
+5 +UYDWVND&URDWLD
%6+NXüQLXUHÿDMLGRR
.QH]D%UDQLPLUD
=DJUHE
7HO
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PDLOWRLQIRUPDFLMHVHUYLVKU#
EVKJFRP
ZZZERVFKKRPHFRPKU
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%XGDSHVW
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7HO
)D[
PDLOWRKLEDEHMHOHQWHV#EVKKX
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7HO
)D[
PDLOWRDONDWUHV]UHQGHOHV#EVKKX
ZZZERVFKKRPHFRPKX
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%6++RPH$SSOLDQFHV/WG
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%DOO\PRXQW,QGXVWULDO(VWDWH
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6SDUHVDQG$FFHVVRULHV
7HO
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ZZZERVFKKRPHFRXN
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7HO
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ZZZERVFKKRPHFRLO
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0DKDNDOL&DYHV5RDG$QGKHUL(DVW
0XPEDL
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6PLWK1RUODQGKI
1RDWXQL
5H\NMDYLN
7HO
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ZZZVPLQRULV
,7 ,WDOLD,WDO\
%6+(OHWWURGRPHVWLFL6S$
9LD01L]]ROL
0LODQR0,
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ZZZERVFKKRPHFRPLW
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7HO
PDLOWR,QIR#7HKHQL+DQDFRP
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7HO
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/8 /X[HPERXUJ
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6HQQLQJHUEHUJ
7HO
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PDLOWROX[VHUYLFHHOHFWURPHQDJHU#
EVKJFRP
ZZZERVFKKRPHOX
/9 /DWYLMD/DWYLD
*HQHUDO6HUYLVV/LPLWHG
%XOOXVWUHHWF
5LJD
7HO
PDLOWREW#ROLPSHNVOY
(ONRU6HUYLVV
%ULYLEDVJDWYH
5LJD
7HO
)D[
PDLOWRGRPRVHUYLFH#HONRUOY
ZZZVHUYLVDFHQWUVO
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ɬɟɥɮɚɤɫ
PDLOWRERVFKPG#PDLOUX
0( &UQD*RUD0RQWHQHJUR
(OHNWURQLNDNRPHUF
8O6ORERGH
%LMHOR3ROMH
7HO)D[
0RELO
PDLOWRHNRERVFKVHUYLV#
WFRPPH
0. 0DFHGRQLDɆɚɤɟɞɨɧɢʁɚ
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-DQH6DQGDQVNLORN
6NRSMH
7HO
0RELO
PDLOWRJRUHQHF#\DKRRFRP

07 0DOWD
2[IRUG+RXVH/WG
1RWDELOH5RDG
0ULHKHO%.5
7HO
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09 5DDMMH\JH-XPKRRUL\\DD
0DOHGLYHV
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0D0DDGKHOL0DMHHGKHH0DJX
0DOp
7HO
PDLOWRPRKDPHG]XKXUHH#
OLQWHOFRPPY
1/ 1HGHUODQG1HWKHUODQGV
%6++XLVKRXGDSSDUDWHQ%9
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6WRULQJVPHOGLQJ
7HO
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PDLOWRERVFKFRQWDFWFHQWHU#
EVKJFRP
2QGHUGHOHQYHUNRRS
7HO
)D[
PDLOWRERVFKRQGHUGHOHQ#EVKJFRP
ZZZERVFKKRPHQO
12 1RUJH1RUZD\
%6++XVKROGQLQJVDSSDUDWHU$6
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2VOR
7HO
)D[
PDLOWR%RVFK6HUYLFH12#
EVKJFRP
ZZZERVFKKRPHQR
1= 1HZ=HDODQG
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PDLOWREVKQ]FV#EVKJFRP
ZZZERVFKKRPHFRQ]
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7HO
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ZZZERVFKKRPHSO
37 3RUWXJDO
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7HO
)D[
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EVKJFRP
ZZZERVFKKRPHSW
52 5RPkQLD5RPDQLD
%6+(OHFWURFDVQLFHVUO
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QUVHFW
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7HO
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PDLOWRVHUYLFHURPDQLD#EVKJFRP
ZZZERVFKKRPHUR
58 5XVVLDɊɨɫɫɢɹ
222ȻɋɏȻɵɬɨɜɚɹɬɟɯɧɢɤɚ
ɋɟɪɜɢɫɨɬɩɪɨɢɡɜɨɞɢɬɟɥɹ
ɆɚɥɚɹɄɚɥɭɠɫɤɚɹ
Ɇɨɫɤɜɚ
ɬɟɥ
PDLOWRPRNNGKO#EVKJFRP
ZZZERVFKKRPHFRP
6$6DXGL$UDELD
ΔϳΩϮόδϟΔϴΑήόϟΔϜϠϤϤϟ
%6++RPH$SSOLDQFHV
6DXGL$UDELD//&
%LQ+DPUDQ&RPPHUFLDO&HQWU
WK)ORRU%
-HGGDK
7HO
PDLOWRVHUYLFHNVD#EVKJFRP
ZZZERVFKKRPHFRPVD
6( 6YHULJH6ZHGHQ
%6++XVKnOOVDSSDUDWHU$%
/DQGVYlJHQ
6ROQD
7HO
PDLOWR%RVFK6HUYLFH6(#
EVKJFRP
ZZZERVFKKRPHVH
6* 6LQJDSRUHᣂ
ടပ
%6++RPH$SSOLDQFHV3WH/WG
-DODQ3HPLPSLQ
8QLRQ,QGXVWULDO%XLOGLQJ
%ORFN$
6LQJDSRUH
7HO
)D[
PDLOWREVKVJSVHUYLFH#EVKJFRP
ZZZERVFKKRPHFRPVJ
6, 6ORYHQLMD6ORYHQLD
%6++LãQLDSDUDWLGRR
/LWRVWURMVND
/MXEOMDQD
7HO
)D[
PDLOWRLQIRUPDFLMHVHUYLV#
EVKJFRP
ZZZERVFKKRPHFRPVL
6. 6ORYHQVNR6ORYDNLD
%6+GRPiFLVSRWĜHELþHVUR
2UJDQL]DþQi]ORåND%UDWLVODYD
*DOYDQLKR&
%UDWLVODYD
7HO
PDLOWRRSUDY\#EVKJFRP
ZZZERVFKKRPHFRPVN
75 7UNL\H7XUNH\
%6+(Y$OHWOHUL6DQD\L
YH7LFDUHW$6
)DWLK6XOWDQ0HKPHW0DKDOOHVL
%DONDQ&DGGHVL1R
hPUDQL\H,VWDQEXO
7HO
)D[
PDLOWRFDUHOLQHWXUNH\#EVKJFRP
ZZZERVFKKRPHFRPWU
7: 7DLZDQ
บḧ
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WKIORRU1R6HF
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7DLSHL52&
7HO
PDLOWR%RVFK#DFKHOLVFRPWZ
8$ 8NUDLQHɍɤɪɚʀɧɚ
ɌɈȼȻɋɏɉɨɛɭɬɨɜɚɌɟɯɧɿɤɚ
ɬɟɥ
ZZZERVFKKRPHFRPXD
;. .RVRYR
173*$0$
5UXJD0DJ3ULVKWLQH)HUL]DM
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9000 824 396 – 10/12
