#t$&|t^r'
!Uw $@=FE:@?D[ x?4^prx (@C=5H:56[ x?4] – }6HE@?[ |p $6AE] a__d – !C6D6?E
$6?:@C $JDE6>D t?8:?66C^pAA=:42E:@? t?8:?66C
$6=64E65 p44@>A=:D9>6?ED
#$p^'2D4@
'|(2C6
!6C7@C>2?46
&A8C256 ^ f]b DEF77
$p}
s@4F>6?E2E:@?
!#|
%C2:?:?8
%:G@=:
#6A=:42E:@? $EC2E68J
u24:=:E2E6 4@>>] q6EH66? "p 2?5 s6G[ >:E:82E6
%C@F3=6D9@@E[ E6DE[ 56A=@J :?E@ @FED@FC4:?8
|2?286 "p =23 – DF?^=:?FI^G>^D2?^6E4^4C2A
!Uw $@=FE:@?D[ x?4 – }6HE@?[ |p pF8] a__c – $6AE] a__d
%:6C b $FAA@CE t?8:?66C
$6=64E65 p44@>A=:D9>6?ED
!C@G:565 E9:C5\E:6C E649?:42= DFAA@CE E@ 7:?2?4:2= :?DE:EFE:@?D 7@C =2C86\D42=6 5:DEC:3FE65 x?E6C?6E 32?<:?8 AC@5F4ED
#6A=:42E65 4FDE@>6C\C6A@CE65 :DDF6D @? :?\9@FD6 DJDE6>D E@ =@8 2?5 EC24< 3F8D
$FAA@CE65 4=:6?ED 5FC:?8 ?6H :?DE2==2E:@?D 2?5 >2;@C D@7EH2C6 FA8C256D 3J AC@G:5:?8 565:42E65 E649?:42= DFAA@CE
5FC:?8 E96 =:76 4J4=6 @7 E96 AC@;64E’D :>A=6>6?E2E:@? A92D6
r@?7:8FC65 4=FDE6C65 2?5 D:=@ (63DA96C6 2AA=:42E:@? D6CG6C 6?G:C@?>6?ED 2?5 56A=@J65 yatt 2AA=:42E:@?D
qF:=E 2?5 25>:?:DE6C65 ~C24=6 D6CG6CD 2?5 D@7EH2C6 E6DE 6?G:C@?>6?ED :? H9:49 E@ C6AC@5F46 :DDF6D
#6D@=G65 :?E68C2E:@? :DDF6D H:E9 4=:6?ED’ D:?8=6 D:8?\@? A@CE2=D 2?5 #$p $64FCxs^'2D4@ D6CG6CD
qF:=E 4FDE@> E@@=D E@ 2DD:DE H:E9 :>A=6>6?E2E:@? 2?5 >2:?E6?2?46 @7 D6CG6CD
pDD:DE65 H:E9 H66<6?5 DJDE6> >2:?E6?2?46 2?5 D@7EH2C6 A2E49 :?DE2==2E:@?D
t)x%bb – q@DE@?[ |p $6AE] a__b – y2?] a__c
$@7EH2C6 s6G6=@A6C
$6=64E65 p44@>A=:D9>6?ED
s6G6=@A65 2? @3;64E\@C:6?E65 !w!\32D65 D@7EH2C6 2AA=:42E:@? FD:?8 2? :?E6C?2==J\56G6=@A65 !w! |'r 7C2>6H@C<
qF:=E 2?5 25>:?:DE6C65 4FDE@> 6\4@>>6C46 D:E6D 7@C 4=:6?ED
p5>:?:DE6C65 :?E6C?2= {:?FI\32D65 56G6=@A>6?E D6CG6CD 2?5 @77\D:E6 AC@5F4E:@? D6CG6CD
r92C=6D $E2C< sC2A6C {23@C2E@CJ – r2>3C:586[ |p |2C] a__` – |2C] a__a
w2C5H2C6 %649?:42= $FAA@CE
$6=64E65 p44@>A=:D9>6?ED
!C@G:565 E649?:42= DFAA@CE E@ 6?5\FD6CD 7@C !rD[ ?6EH@C< 56G:46D[ D6CG6CD 2?5 4@>AFE6C A6C:A96C2=D
x?DE2==65 92C5H2C6 FA8C256D 2?5 AC6A2C65 ?6H 4@>AFE6CD 2?5 AC@;64E >249:?6D 7@C E96 sC2A6C ?6EH@C<
$2A:6?E r@CA@C2E:@? – r2>3C:586[ |p y2?] a___ – s64] a___
s2E2 (2C69@FD6 s6G6=@A6C
$6=64E65 p44@>A=:D9>6?ED
s6G6=@A65 2 4@CA@C2E6 52E2 H2C69@FD6 @? 3@E9 |:4C@D@7E $"{ $6CG6C 2?5 ~C24=6 g: A=2E7@C>D[ 4@>3:?:?8 52E2 7C@> >@C6 E92? E6? D@FC46 52E2 DJDE6>D H:E9:? E96 4@>A2?J
s6G6=@A65 F?:BF6 52E2 2?2=JK2E:@? AC@465FC6D E@ 56E64E 2?5 4@CC64E 6CC@?6@FD @C >2=7@C>65 52E2 7C@> E96 D@FC46 52E2 DJDE6>D 367@C6 :E 6?E6C65 E96 AC@5F4E:@? 52E2 H2C69@FD6
s6G6=@A65 4FDE@> 2?5 6I64FE:G6\=6G6= C6A@CE:?8 E@@=D 7@C FD6 H:E9 E96 52E2 H2C69@FD6
!C@G:565 D:K:?8 2?5 92C5H2C6 6DE:>2E6D 7@C $"{ $6CG6C E@ ~C24=6 D6CG6C >:8C2E:@? DEC2E68J
!@CE65 E96 52E2 H2C69@FD6 7C@> |$ $"{ $6CG6C E@ ~C24=6 @? 2 &}x) A=2E7@C>
s6D:8?65 2?5 :>A=6>6?E65 x?EC2?6E\32D65 H63D:E6 FD65 E@ EC24< 52E2 H2C69@FD6 24E:G:EJ
(:?E9C@A $49@@= s6A2CE>6?E – (:?E9C@A[ |p $6AE] `hhe – pAC] `hhh
}6EH@C< t?8:?66C
$6=64E65 p44@>A=:D9>6?ED
s6D:8?65 2?5 :>A=6>6?E65 D49@@=\H:56 4@>AFE6C ?6EH@C<[ :?4=F5:?8 H:C:?8 2?5 92C5H2C6 :?DE2==2E:@?[ D6CG6C 4@?7:8FC2E:@? 2?5 25>:?:DEC2E:@?[ FD6C 244@F?E >2?286>6?E[ DF3?6ED[ 2?5 :?E6C\3F:=5:?8 4@>>F?:42E:@?
r@??64E65 7@FC AF3=:4 D49@@=D 2?5 @E96C E@H? 724:=:E:6D E@ 2 H:56\2C62 ?6EH@C< 7@C FD6 :? =23D 2?5 4=2DDC@@>D
$6E FA }@G6== }6EH2C6 2?5 (:?5@HD }% 5@>2:? D6CG6CD[ 9625\6?5 4@?EC@==6CD[ C@FE6CD[ A2E49 A2?6=D[ swr!
%trw}xrp{ $zx{{$
r6CE:7:42E:@?D
#wrt W#65w2E r6CE:7:65 t?8:?66CX \ rFCC6?E @? #wt{d]I
!C@8C2>>:?8 {2?8F286D
r@>A:=65 r^rZZ[ rR[ y2G2^yatt[ ':DF2= q2D:4[ qp$xr[ |x!$ pDD6>3=J
$4C:AE:?8 $496>6[ !6C=[ {:DA[ !JE9@?[ #F3J[ %4=^%<[ ($w[ &}x) $96== !C@8C2>>:?8
(63\q2D65 y$![ !w![ p$![ )|{^)${%[ w%|{[ 'q$4C:AE[ y2G2$4:AE[ >@50A6C=[ $>2CEJ[ !tp#
s2E232D6 $"{[ !{^$"{[ %\$"{
~E96C ~~![ |'r
s2E232D6
!=2E7@C>D ~C24=6[ |:4C@D@7E $"{ $6CG6C[ !@DEvC6$"{[ |J$"{[ sqa
bC5 !2CEJ t#(:?[ ~{p! %@@=D[ qC:@[ %~ps
~A6C2E:?8 $JDE6>D
|:4C@D@7E |$\s~$[ (:?5@HD Wb]` E9C@F89 a__gX
&}x) $@=2C:D a]e – h]_[ s:8:E2= &}x)[ xC:I[ px) d]b
{:?FI s63:2?[ #65w2E t?E6CAC:D6 {:?FI[ &3F?EF
q$s ~A6?q$s[ }6Eq$s[ uC66q$s[ |24~$ )
$@7EH2C6
xstD |:4C@D@7E ':DF2= $EF5:@[ t4=:AD6 !=2E7@C>[ $F? }6Eq62?D
$@FC46 r@?EC@= r'$[ #r$[ $F3G6CD:@?[ $62A:?6 $FCC@F?5 2?5 %6DE%C24<[
|:4C@D@7E ':DF2= $@FC46$276[ q@C=2?5 $E2C%62>
}6EH@C< xq| (63$A96C6[ xq| w%%! $6CG6C[ }6ED42A6 :!=2?6E[ pA2496[ |:4C@D@7E xx$[
$F? pAA=:42E:@? $6CG6C[ !@DE7:I[ $2>32[ x|p![ s}$[ }u$[ swr![ u:C6H2==D[ '!}
'|(2C6 t$) a]d]I ^ b]_[ ':CEF2=r6?E6C `]_^a]_
~E96C D65[ 2H<[ G:[ $E2?52C5 &}x) E@@=D[ r~|Z ^ sr~| r@?7:8FC2E:@?
|6E2E@>:I x?E6C492?86 !=2E7@C>
w2C5H2C6
$JDE6>D x?E6=^p|s^p=A92 !rD^$6CG6CD[ xq| 6$6C:6D q=256r6?E6C[ xq| A$6C:6D $6CG6CD
pAA=6[ $F? (@C>@5@C6
$64FC:EJ #$p $64FCxs[ '2D4@
$p} w:E249: p|$d__^}$rdd tIA6C:6?46
{2?8F286 u=F6?E t?8=:D9[ x?E6C>65:2E6 v6C>2? 2?5 $A2?:D9[
q2D:4 tDA6C2?E@[ #FDD:2?[ z@C62? 2?5 u2CD:
ts&rp%x~}
}@CE962DE6C? &?:G6CD:EJ – q@DE@?[ |p `hhg \ a__b
q2496=@C @7 $4:6?46 :? r@>AFE6C $4:6?46
vC25F2E65 H:E9 b]_`d ^ c]___ v!p
#6=2E65 r@FCD6D r@>AFE6C ~C82?:K2E:@? 2?5 s6D:8?[ ~3;64E ~C:6?E65 s6D:8?[
~A6C2E:?8 $JDE6>D[ s2E232D6 s6D:8?[ %C2?D24E:@?2= !C@46DD:?8 $JDE6>D[
r@>>F?:42E:@? }6EH@CD[ $@7EH2C6 s6D:8? 2?5 s6G6=@A>6?E
(:?E9C@A w:89 $49@@= – (:?E9C@A[ |p `hhc – `hhg
vC25F2E65 H:E9 mb]ad_ ^ c]___ v!p