Sie sind auf Seite 1von 22



      


!#"%$
&')(+*-,.')/021436587239/;:+*-<=(+1>'1>'?3@*>1>A27?BC;DE:+(+F?39/5G/;:+H;36I25./J/;F)7KL/145.(M,N39*O/;*G1>'?36BL/5>3@A)*4397(+FL1>'2(+*G,NCPA25.*43;Q
R SUT-VXW>TZY [=\^] _8`bacWedgfih>j@TGkaE_
l 3m*41>/5>1
1>'2(+*,.')/0214365nIoBp(+Fq145.Cr72A),6(+F?HsKL/145.(M,N39*n/;F27t1>'239(u5/;:+H;36I25./vQUw=C;1>/1>(+CPF2/;:+:uB;xyKL/145.(+,N39*
/5>3m/
5>39,N1>/;F?HPA):+/5X/5>5z/9BmC;D{39:u39K39Fo1>*X7239F?C;14397sIrBm,6/0)(u1>/;:G:+361414365.*J|X}>~}>GQn&'?CP*43L39:+39K39Fq1>*X/5>35.36D365>5.397m14C
/;**>,6/;:M/5.*/;F27m7?39F?C;14397sIoB:uC<8365.,6/;*43:+361414365.*6x}.}>G}.9uQw@C;143L1>'2/11>'?3L*.,6/;:+/5.*/5>3LF?C;1F239,N39*>*>/5.(+:+B
,NCPF2*41>/;Fo1>*6O1>'?36BK/9BrI3J5>39/;:EC;5=,NCPK0:u3N
FrA2KXIb365.*6xv0bCP:uBrF2CPKL(+/;:+*6xrC;5=H;39F2365./;:EDA2F2,N1>(uCPF2*9Q
yc)^8CPF2*>(M7?3651>'?3JKL/145z(
= P;;P @; v J9 ;P @; P
.
;PLs6r) J ;;P ;;v9 ;;Ls6r2 = ; PP  ;;= s ;6r;P)
| ?9;;;
;  @ ;v9 ;Ls6 2 @v 
; ;;

@
&'2(M*(+*/ KL/145.(
<=(u1>'
5.39/;:E39Fq145z(u39*6QOFn1>'23C;1>'?365@'2/;F)7Ex
 G { 8 G 8  m
(+*/ L KL/145.(
C;D0bCP:uBrF2CPKL(+/;:+*8(+F
1>'?3/5.(+/I:u3 Q

LK /145.(u<@'2(+,.'^'2/;*J5>C<=*!/;F27^t,NCP:+A2KLF)*6x(+*X*>/;(+7^14CIb3L ZQ KL/145.(sKL/BmIb37?39F?C;14397IoB
|U q6<='?365>3 }666./;F27! }666zZQ
yc)&'?3!KL/145.(|U(+FZ?/;K0):u3 '2/;* 5.C<=*y/;F27 ,NCP:+A2KF2*6Q1>'?3!39:u39K39Fo1@)4 = P;;P
<='2(M:u3y > Q

*>,6/;:+/5y(+*/ ^ KL/145.(uQ-Ds1>'23JKL/145.(n(+**./;(+7n14CIb3*>rA2/5>3;QOD 1>'?3JKL/145z((+*/5>C<


KL/145.(u C;5@;39,N14C;5 Q{D 1>'23JKL/145.(n(+*/;F,NCP:+A2KLFKL/145.( C;5=;39,N14C;5 Q{D|(+*=*>oA)/5>31>'?39Fn<83
7?3NF231>'?3=;o6JC;D|IrB1>'23*>A2KC;D(u1>*72(M/H;CPF2/;:E39:u39K39Fo1>*6x)(Q3;Q

=;rN | + q

yc)8CPF2*>(M7?365  C;D-v/;KL0):u3 2x 1>'?39Fn=;o6 4 - { Q

E ;qmc2OP
&<8CKL/145.(+,N39*|/;F27m/5>339rA2/;:xE<5.(+141439Fm| x(uDO/;F27CPF2:uB(uDG|'2/;*1>'?3L*>/;K3LFrA2KXIb365yC;D85>C<=*
/;F27,NCP:MA2KLF2*/;*@ /;F27(uDoyzDC;5=/;:+:c>}?Q&<8CKL/145.(M,N39*=|/;F271>'2/1y'2/9;3X1>'?3J*>/;K3XFoA2KXIb365.*
C;D5>C<@*/;F27,NCP:+A)KLF2*KL/BIb3/;727?397C;5=*>A?I2145z/;,N1439739:u39K39Fo1IrB39:+39K39Fq16x(Q3;Q
 U 

| 
   >}
1>'?3LK!A2:u1>(u0:+(+,6/1>(uCPFC;D KL/145.(M,N39*|/;F27m 14CnC;I21>/;(+F  |JKL/BIb30b365>DC;5zK397(uDG/;F27CPF2:+B(uDO|
'2/;*1>'23J*>/;K3FrA2KXI365=C;D,NCP:+A)KLF2*/;*= '2/;*5>C<=*9QZFnD/;,N16x
 |y


 @

1>'?3KL/145z(  (+*8 (uD| (+*8 /;F)7(+*8  Q-w@C;1431>'2/1|KL/BF2C;136;39FnIb3723NF?397
/;F27
(u1
,N365>1>/;(+F):uB(+*yF?C;1@39rA2/;:14Cn|@ 36;39F<='?39FIC;1>'025>Cv72A2,N1>*y/5>37?3NF2397EQ@&'23!KL/145z(C;DG/;:+:6365>CP*(+*@1>'?3
wyA2:+:2KL/145z(xr/;F27L1>'23@*>rA2/5>3yKL/145.(L|<=(u1>'qc /;F)7o@ DC;5O  !(+*G1>'?3@(+7239Fq1>(u1BLKL/145.(bQ&'?3
(+7?39Fo1>(u1BKL/145z(
(M*7?39F?C;14397nIrB2Q-w@C;143J1>'2/1=| q||/;*>*>A2K(+F?H| (M*{ s/;*=(+*)Q
E   2;P  "!-$ #& %'()J;q mc2OP
&'?3DCP:+:uC<=(+F?H025.C;0365.1>(u39*8C;DK/145.( :uH;36I)5.//5>339/;*>(M:uB;365.(u)397
Q=| U* |
Q=|  | E 
Q= | | DC;5=/;:+:E*>,6/;:M/5=GQ
Q=||y
Q=|  |y 
Q=|  |@ | 
Q  |!|  |
E + ,yP. -/0) 1 23-5476-c; 1{. -/8 9 70;:?; ;q< :v5 
= 361| ZIb3/;F KL/145.(bQJ&'?3!145./;F2*>0CP*>3!C;D8|(+*7?39F2C;14397IoB?| > > -/;F27(+*y1>'?3. @)
KL/145.(uC;I21>/;(+F?397
IrB(MFq14365.,z'2/;F?HP(+F2H,NCP:MA2KLF2*8/;F27
5>C<=*6Q-&'?3KL/145z(|(+*BADC7EFEGIHKJDLNM(+D|| > xOADPQGSR;T
ADC7EFEUGVHKJWLKM(uD-| | >-Q :M*4C?x(+1@,6/;FIb3X*43639F1>'2/1 |y > X >| >-Q@eF1>'?3!,6/;*>3!<@'?365>3| ,NCPFq1>/;(MF2*
,NCPK0):+3N39:u39K39Fo1>*6xv <O3:u361Z|Y Ib3y1>'?3M\[7]_^D`"ab"HcG8C;D|<@'?CP*43y39:u39K39Fo1>*/5>3@1>'23,NCPF7d4A?HP/1439*C;Dc1>'?CP*43C;D|XQ
e /145.(+,N39*=*./1>(+*4DBr(+F2H| | Y >/5>g3 fgGSJWEFLhHKLNb7]/;F27
1>'?CP*43J*./1>(+*4DBr(+F2H| ?| Y >^/5>3 A\PQGVR;TNfgGSJWEFLhHKLNb7]2Q

E ji km?;2ml<--.-"m1{ <-nco18.-/8p23e.:rQc
eFX1>')(+**>39,N1>(uCPF<O3{<=(M:+:q,NCPF2*.(+7?365*>oA)/5>3KL/145.(+,N39*CPF2:uB;Q&'?3{7?3614365.K(+F2/;Fo1C;D/y*.oA2/5.38KL/145z(X|t7239F?C;14397
IrB qr6 | C;g5 r
| rv(+*/L*>,6/;:M/t5 s/;:MA?397nDA2F2,N1>(uCPF
C;D|/;F27n(+*HP(u;39F/;*DCP:+:uC<@*{DC;5@ } } Q
| r)4
Q x21>'?39uF r
| r)4. 4 2
Q x21>'?39uF r
| r)4 4 4 E 2 . 4 c ) . 4
Q x21>'?39uF r
v 1>/;F27)/5.7sK361>'?Cv72*/0)0):uBDC;5J,6/;:M,6A2:+/1>(+F?H723614365.KL(+F2/;Fo1>*6Q&'?37?3614365zKL(+F2/;Fo1C;D/*>rA2/5>3KL/145z((M* x
1>'2/1XC;D{/;F(+7?39Fo1>(u1BmKL/145z((M* x/;F27s1>'2/1JC;D/n145.(+/;F?HPA):+/5C;5X7)(+/H;CPF2/;:GK/145.(m(+*1>'?3025>Cv72A2,N1C;D/; :+:
72(+/H;CPF)/;:39:+39K39Fq1>*9QJG/;,z'39:u39K39Fo1o(+F/;F *.oA2/5.3!KL/145z(|')/;*/;*>*4Cv,6(+/14397<=(u1>'(u1/K(+F?C;5
~ C;I21>/;(MF?397/;*81>'?37?3614365.K(+F2/;Fo1GC;Dc1>'?3 ^ KL/145.(uL5>39*>A2:u1>(MF?HDC;5.Ki7239:u361>(+F?HX1>'?j3yy?(+ 1>'5>C<
/;F27n1>'23wde1>',NCP:MA2KLFEQnx?5.CPK 1>'?39*43XKL(+F?C;5.*9xr<83,6/;FC;I)1>/;(+Fn1>'?3,NC;D/;,N14C;5.*@HP(u;39FIrB  y J ~;Q
yc)( z|{(u;39F
.
|

&'?39Fcx2~ x  @ x2~  Q

v CPK3A)*436DA):b025>C;0b365>1>(u39*{C;D7?3614365.KL(MF2/;Fq1>*=/5>3J:+(+*>14397
I39:+C<
Q = 361=|/;F27nIb3 sKL/145.(+,N39*9x?1>'?39Fur |y}r r |
or Or}r#Q
Qg;r ||r ;r |?>~r
QD|,NCPFo1>/;(+F2*=/5>C<C;5@/L,NCP:+A)KLF
C;D6 365.CP*6x)1>'?39F~r |r Q

QDc/;FoB5>C< C;58,NCP:MA2KLF C;Dc|(M*-/X:M(+F?39/5G,NCPKXI)(+F2/1>(+CPFLC;DEC;1>'?36585>C<@* C;5{,NCP:+A2KLF)* xq1>'?39Fr|r Q


QKD{/<O145.3(n(+Fo(+14* 365.,.'2r/;|F2H;r#3Q /;FoB 5>C<@* C;5!,NCP:+A2KLF2* C;D/KL/145.(u|Xx1>'?37?3614365.K(+F2/;Fo1C;D{1>'?35>39*.A2:u1>(+F?H

C;5/^,NCP:+A2KF C;D/^KL/145z(| IrB/^*>,6/;:M/5Ox1>'?37?3614365.K(+F2/;Fo1LC;D1>'?3


Q5.D39*><OA2:u31>(+KXF2HA):uK1>(u/0)14:u5.B (/m(M*5>C< r|
r#Q
Q |Fo<=B(+1>K!'?A2CP:uA?1>1(u0),.:+'23/;C;F2DHP/!(+F?5>HC< 1>'?3C;5/;/:+A?,N3CP:+C;A)DKL1>'?F 3J K7236/914B365.IKL3y(+F2/;/;72Fo7?1639Q 714C/;FqBC;1>'?3655>C< C;5{,NCP:MA2KLF C;D/KL/145.(u

E  .-n1,@q:v)18.-8|-2
&'?35./;FtC;DJ/;F KL/145.(|7?39F?C;14397IrBt_ ;o) | (+*1>'?3*>(63C;DJ1>'?3:+/5>H;39*>1
F2CPF6365>C
7?3614365.K(+F2/;Fo181>')/1,6/;FnIb3@DC;5.K397
D5>CPK|XQGw=C;143J1>'2/1_tn9m}4PQ-D|(M**>oA)/5>3/;F27n(uDc_Zx
1>'?39F | (+*F2CPF2*>(+F?HPA):+/59QDy_ (+*1>'?35z/;FC;D| /;F27 (+*1>'?35./;F&C;DxO/;F27t(uD  |@x81>'?39F
0 tn 9_ -}40 wPQG&'?3145z/;,N3JC;D/L*>rA2/5>3KL/145.(u
| <8/;*@7?3NF?397
39/5z:+(u365=/;*{@ | * + qQ
yc) o

D|/;F27 /5.3=,NCPF?DC;5.KL/I):u3*>rA2/5>3KL/145z(+,N39*6x;= | = |  = xP/;F27!= |y = !| Q


:+*4C?xv= | p= | > Q
yc)' v '?C< 1>'2/1= |@  = >c|>  > Qxu( 5.*>16x<5.(u143n@ |y  =  |y x{1>'?39F
=  |yX > p=  |y x?1>'oA)*025>C;39FEQ

w@C;143J1>'2/1;o) |  o) | E ;q) /;F27n1>')/1= |@ p @ | = Q


yc)9 po

w@3Nr16x<O3!7?3NF?31>'?3X(+Fq;365z*43C;DZ/*>rA2/5>3;xF?CPF2*>(+F2HPA2:+/5KL/145.(n|/;*=1>'23J*>rA2/5>3KL/145.(unC;D1>'?3!*>/;K3
72(+KL39F2*>(uCPF2*{*>A),.'n1>'2/1
|y!|
1>'?3J(MFq;365.*>3(+*7?39F?C;14397IoB
| /;F)7KL/9BIb3DCPA)F27
IoB
>
| r 
| r
<='?365.3  (+*1>'?3KL/145.(uC;D,NC;D/;,N14C;5.*  C;Dy|XQw=C;1431>'2/1LDC;51>'?3(+Fo;365.*43n14Cm3N?(+*416x rZ
| rK!A2*41Ib3
F?CPF 6365.C?x2<='2(+,z'n(+*{39rA2(u/;:u39Fq114C*>/9Bv(+F?HL1>')/1=| (M*F?CPF2*>(+F2HPA2:+/59Q l 3X/;:+*>C<5.(u143  > B| q" E | Q
yc)' v '?C<1>'?3DCP:+:uC<=(+F?H025>C;0b365>1B
|@ |

/;*>*>A)KL(+F?HC;DG,NCPA?5.*431>'2/1| /;F)7 /5>3,NCPK0)/1>(uI:u3X/;F27IbC;1>'(+Fo;365>1>(uI):u3;Q&'?365.3X/5>3C;1>'?365(+KL0C;5.1>/;Fq1


5>39:+/1>(+CPF2*(+Fo;CP:ur(MF?H(+Fq;365z*439*C;DZKL/145.(+,N39*9x2CPF?3C;D<='2(+,z'n(+*{1>'?3gbQHKJWLD]&QGSJDADLN[7]()GVEgEb
| | | | | | | | | | | | |

yc)' -5>C;3 e =

E  5l5-;bQ|2PP)-.-/8U ;q<:v5
&'?3I/;*>(+,C;0b365./1>(uCPF2*,6/;:M:u397uGSjGSEUGV]5Hb7JWC [D&GSJtbQHKLK[Q]A=/5>3J/;*DCP:+:uC<=*
QeFo14365.,.'2/;F2H;3X/;FoB 5.C<=* C;5=,NCP:+A2KLF)*
Q e A2:u1>(+0):uB/;FoB
5>C< C;5y,NCP:+A2KLF IrBn/*>,6/;:+/5y
Q C;e 1>'2A236:u1>5=(+0)5>:uCB< /; FoC;B5@5>,NCCP< :+A)KL C;F 5X ,NCP:+A2KF IoBm/*.,6/;:+/5X/;F27s/;7)7m1>'?3L5>39*.A2:u1>(+F?H
5>C< C;5!,NCP:+A2KLF 14C/;FqB
w@C;143m1>'2/139/;,z'C;D1>'?39*>339:+39K39Fq1>/5.BtC;0b365./1>(uCPF2*KL/BtIb35>360)5>39*439Fo14397IoBt/0bCP*41>K!A2:u1>(u0):M(+,6/1>(uCPFDC;5
,NCP:+A2KFpC;0b365./1>(+CPF2* C;5025>39K!A2:u1>(+0):+(+,6/1>(uCPF DC;5n5>C<C;0b365./1>(uCPF2* IrBt39:+39K39Fq1>/5.BKL/145z(+,N39*
<='2(+,z'/5>3
F?CPF2*.(+F?HPA2:+/5Q
yc)^o = 361

|
X
&'?39Fcx2:u361A2*431>'?3JDCP:+:+C<=(+F2HX5>C<C;0b365./1>(uCPF)*6
Q=-v,z'2/;F?H;3X5>C<=* /;F27
Q e A2:u1>(+0):uBL5>C< IrB s /;F27n/;727(+114CL5>C<
Q e A2:u1>(+0):uBL5>C< IrB _  /;F27/;727(u114CL5>C<
Q e A2:u1>(+0):uBL5>C< IrB _ 
Q e A2:u1>(+0):uBL5>C< IrB " 
Q e A2:u1>(+0):uB,NCP:+A)KLF IrUB s /;F)7/;727(u114C,NCP:+A2KLF
Q e A2:u1>(+0):uB,NCP:+A)KLF IrB /;F)7/;727(u1{14C,NCP:+A2KLF
Q e A2:u1>(+0):uB,NCP:+A)KLF IrUB s _  /;F27/;727(+114C,NCP:+A2KLF
&'?339F)7n5>39*>A2:+1{(M*

U

yc)^{(u;39Fn1>'?3DCP:+:uC<=(+F?H!0bCP:uBvF?CPKL(+/;:bKL/145.(u


8
1>'?39Fn1>'23J,NC;5>5>39*40bCPF27)(+F?H!5>C<C;0b365./1>(+CPF2*/5>30b365>DC;5.K397c
Q=(MFq14365.,z'2/;F?H;35.C<=* /;F27 Q
Q=K!A2:u1>(+0):uBL5>C< IrB /;F27/;7)7(u114CL5>C<
Q=K!A2:u1>(+0):uBL5>C< IrB { /;F)7/;727n(u114CL5.C< Q
&')(+*,NC;5>5>39*40bCPF27)*{14CL1>'?3DCP:+:uC<@(+F?HKXA):u1>(u0):+(M,6/1>(uCPF2*OIoB
1>'?3KL/145z(+,N39*HP(u;39Fc
Q
{
 


Q
{



{

Q
{
 

8

e FH;39F?365z/;:x)DC;5@/;FoBKL/145.(nC;D5./;F
<83X,6/;F5>3972A2,N3X(u1v(+/L,NCP:+A2KF/;F27n5.C<C;0365z/1>(uCPF2*14CCPF?3JC;D
1>'?3DCP:+:uC<=(+F?HF?C;5.K/;:EDC;5zKL*

S}X Sr }X Sr > }  S

w@3Nr16x<O37)(+*>,6A2*>*{;39,N14C;5*40)/;,N39*9Q

pTn`[@a. _?F V@T/`[=aX_ZTn

eFKCP*41=C;DZCPA?5=/020):M(+,6/1>(uCPF2*6x?<83XF23639714C7239/;:c<=(u1>':+(+F?39/55>39/;:/;F27,NCPKL0):u3Nn;39,N14C;5*40)/;,N39*@<='2(+,z'/5>3
7?3NF2397n*>A?I)*439rA?39Fo1>:uB;Q
m h 
5.39/;:G:+(+F239/5;39,N14C;5*40)/;,N$3 JGWA.,NCPK0:u3Ns:+(+F?39/5;39,N14C;5*40/;,N3 LA3b'AVGIHG\V`L"G

R;LKHh (VL]bQJDC[DGVJbQHKLN[7]AVHhGFb""7LKHKLK[Q]\3b7]HhGAVM\b7b7JXEg`HKLOLNM\bQHKLN[7]AW`MVHhobQH
@ ~ @ }  @ } 
o@ hJ $o @ ~2 E$ }  @ } } 
m )GSJGgLAb7]GVGVEGV]5H " Lh](AD`&MSHhob"H@ " "
@ @ }  @
)[7JFG\b"MS@ /HhGSJGG"LASHhAXb7]GSjGSEUGS]H @ AD`&MVHhbQH@ @ @ c
@ "
)[7JbQAVM\b7b7JDXA ;6}4  cJtGSA
6}>  _ b7]OGb"MV @ RGob7QXG ;9 @ ;> @
cJtGSA 9 @ . @
")[7JuGbMS } JGWAc
 b7]Gb"MV~@ }t@ ! @ @ @ @ cJtGSA
 @ @ @ @
)[7Jb75ASMDb7bQJ\{A }4 ( JGWAc{ }>  _;b7]UG\b"MS@ RGBb77G @ @ @
cJtGSA @ 9@ @5
m)[7JFG\b"MS@ nRGob77G @ @$RGVJtG3LAHhGX`]&LKHKCL] JGWA.L] 
yc)^v)GV[7h[7R;Lh]mab7JGLh]OGb7JQGM_H[7JFAbMDGWAR;LKHhHhGUb0ADAS[IMILKb"HcG(ASMDb7bQJ?wGS0AV R;LKHh
 R;LKHh 

m hAD`5WAIGVHc~ [bQGM_H[7JAbMDGLAbFAD`5SAb"MWGL LhHnLAbL]OG\b7J7G\MIH[7JAcb"MWGLh]LKHhA[QR;]


JWLaQmHF]OGX]OG\MDGWADASb7JWCM\[7]QLhHKLN[7]V[7J=~ H[\GgbUAD`5SAb"MWGgLAHhobQHwLhHwM\[7]Hb7L]&AXHhG_GVJ[QGM_H[7JS

yc)^rrr

 #=<--2b-8-&-/8--/:v

8CPF2*.(+7?365J/F2(u143LFrA2KXI365JC;D;39,N14C;5.3* I@

I@ t} @ }666}t@ Ib39:uCPF2HP(+F?Hn14C/;39,N14C;5*40)/;,N3UQn&'?3
*4361I@)!(+*@*>/;(+7n14CIb3J:+(+F239/5.:uB(MF27?360b39F27?39Fo1(uDZ2@ @ 66 @ (MK0):+(u39*{1>')/1@/;:+:q Q
y1>'?365.<=(+*43;Ox I@) X(M**>/;(+7
14CIb3:+(+F239/5.:uB7?360b39F27239Fq16Q

yc)^m z &='?3*4361 6 L@ }666}4 (+*:M(+F?39/5.:uB(+F27?360b39F27?39Fo1(+F QF1>'?3C;1>'?365J'2/;F27cxE1>'?3
;39,N14C;5.*6x@&> U ^ @5> U s /5.3J:+(+F?39/5z:uB7?360b39F27?39Fo1(+F Q


@w C;143n1>'2/1/;FqB^*>361!C;D@;39,N14C;5.*L,NCPFo1>/;(+F2(+F2H1>'?36365>C;39,N14C;5(+*:+(MF?39/5.:uBm7?360b39F27?39Fo16Q :+*>C?xG(uDI@
X
0b}6396F267?39}4Fo16Q (+*yx:+(+(+F)F2/;39/:+:u5.B;:uxbB(uDZ7?1>36'?0b339F2*47?361g39FoI16@)xb/;72(M72*@(+F?:+(MH
F?39/
/5.F?:u36Bn<7?36;0b39,N3914F2C;7?539Fo@ 16 xy1>'?39<=FE(+xE:+:/F?1C;:u139/;KL*41y/7;CP3F?31>'?C;3D-F?1>'?36< 3;*43936,N114C;:+(+5.F?*39/(+F5z:uBn1>'?(+3F27?*4363S1 s
KL/BIb3<5z(u141439Fn/;*=/L:M(+F?39/5,NCPKJI(+F2/1>(uCPFnC;D1>'?3C;1>'2365.*6Q
C<7?CX<O3y1439*41{DC;5{:+(+F239/5O7?360b39F27?39F),N3 (+F27?360b39F27?39F),N3 {(u;39F
/J*43618C;Dc;39,N14C;5z* I@ y39/;,z'')/9v(+F?H
,NCPK0bCPF?39Fo1>*6Q x?C;5.K 1>'?3 K/145.(|<='2(+,z'm'2/;*1>'?3;39,N14C;5.* @ /;*(u1>*,NCP:+A2KF2*6QXw@C;143L1>'2/1(+D
 1>'?39F1>'?3*4361C;DG;39,N14C;5.*')/;*@14C
Ib3:+(+F?39/5.:+B
(MF27?360b39F27?39Fo16Q@&'2365>36DC;5.3;xb:+361yA2*,NCPF2*.(+7?365y1>'?3,6/;*43
<='?365.3@9 mnQ x2C;5.K 1>'?3 K/145.(  ?| >|/;F27n,.'?39\, (+D(u1{(+*{F?CPF2*>(+F2HPA2:+/59xq(Q3;Q-(uwD r  r  xv1>'?39F
I@) J(+*=:+(+F?39/5.:+B(+F27?360b39F27239Fq16xrC;1>'?365><=(M*4F3 I@) J(+*:M(+F?39/5.:uB7?360b39F27?39Fo16Q
{y36CPKL36145.(+,6/;:+:uB;xo:+(+F?39/5(+F27?360b39F27239F2,N3GKL/BXIb383Nr0):M/;(+F?397J(MF QZ{CPF2*>(+7?3651>'?3{0):+/;F23 /;F27*>A?020bCP*43
<83y'2/;3 ;39,N14C;5.* @8/;F2U7 @ QDE1>'23 ;39,N14C;5.*/5>3:+(+F?39/5.:+B!7?360b39F27239Fq16xo1>'?39UF @ m @cOC;58IbC;1>'L;39,N14C;5.*
:+(u3/;:uCPF?H1>'?3*./;K37)(u5>39,N1>(uCPFEQD1>'?36B^<O365>3
:+(+F239/5.:uBm(+F27?360b39F27239Fq16x1>'?39F^1>'236BsDC;5zK 1>'?3 *>(+7?39*XC;D=/
0)/5./;:M:u39:uC;H;5./;KnQ&'?365.36DC;5>3;xo(+F1>'?3=,6/;*43=C;Db:M(+F?39/5Z7?360b39F27?39F2,NB;xq1>'?30)/5./;:M:u39:uC;H;5./;KU7?36H;39F2365./143 14CX/*.(+F?HP:u3
:+(+F23;Q l 3,6/;F39rA2(u0/;39,N14C;5*40/;,N3X<=(+1>'KL/;FoBDA2F2,N1>(uCPF2*9Q@F?3JC;DG<='2(+,z'(+*@1>'?3X(MF2F?365=0)5>Cr7)A2,N1<='2(M,.'
1>7/ ;39*@1<8CL;39,N14C;5.*y(+(F U14C/*>,6/;:+/539(u1>'2365=(+F C;5=(+F  xv1>'?3C;1>'?365CPF23J(+*{1>'?3F?C;5zKC;D/;39,N14C;5y<='2(M,.'
1>7/ ;39*y/;39,N14C;5y(M(F U14C/L0CP*.(u1>(u;3/;:MA?3(+F Q
  
. c  :r7  
{(u;39F/;39,N14C;5*40)/;,NB3 ^xo<O3y*>/9B1>'2/1 )e}4 }666. @*40/;F (uDb36;365>B;39,N14C;5 @ KL/9BIb3<=5.(u141439F
/;*=/:M(+F?39/5,NCPKXI)(+F2/1>(uCPFC;D x2(Q3;Q

@

 q
)
DC;5{*>CPK3*>,6/;:+/5.*{oQ-&='?3*>,6/;:+/5.*{o/5>31>'?3,NCPK0bCPF?39Fo1>*{C;D @(+F1>'? 3 )72(u5>39,N1>(+CPF2*6QZw=C;1431>')/1{F2C;1>'2(+F?H
(+**>/;(M7/IbCPA? 1 )Ib36B;CPF27n1>'?3D/;,N11>'2/1=1>'?365>3(+*39F2CPA?HP'nC;D1>'?39K14CK/;FoA?D/;,N1>A?5>336;365.Bn;39,N14C;5y(+ F Q
yc)^ ;39,N14C;5z*@(+F

*4361XC;D;39,N14C;5.*3 }4 }666.


(+F9 (+*X*>/;(+7s14CIb3/I/;*>(+*C;D (uD(u1J*>0)/;F2* /;F27(u1X(M*:+(+F?39/5z:uB
(+F27236039F)7?39Fq16Q-&='2(+*(+*I)/;*>(+,6/;:+:+B1>'?3JK(+F2(+K!A2K FoA)KJIb365C;D;39,N14C;5.*yF?36397?39714C*40)/;F^Q{&'?3J72(MK39F2*>(uCPF
C;D(+*1>'?3FoA)KJIb365C;D;39,N14C;5.*y(+Fn/;FqBI)/;*>(M*C;DQG&'rA2* '2/;*72(+KL39F2*>(uCPFZQ
yc)^o = 36?1 Ib31>'?3;39,N14C;5*40)/;,N3XC;D/;:M:E;39,N14C;5.* @n @ 66B@ >*>A2,z'1>'2/1y/;:+:c,NCPK0bCPF?39Fo1>*
/5>339rA2/;:QZ&'?393F (+*8*40)/;F2F2397IrB1>'?3y;39,N14C;5C;D/;:M:  *6QO&'?365>36DC;5>372(+K QOF1>'?3@C;1>'2 365'2/;F27Ex
(uD (+*O1>'?3=;39,N14C;5*40)/;,N3yC;Dc/;:+:)0CP:+BrF?CPK(+/;:+*C;D7?36H;5.363= s C;5{:u39*>*6xv/I)/;*.(+*G(+?* }4z}4 }6669}4 @<='2(M,.'
KL7/ ;39*@72(+K ZQ

&'?3@DCP:M:uC<=(MF?HJ*439,N1>(uCPF
72(M*>,6A2*>*439*G1>'?3(+F2F?365-0)5>Cr7)A2,N1>*GC;DE;39,N14C;5z*{<='2(+,z'(+*G1>'?39FDCP:M:uC<8397IrBL/!*439,N1>(uCPFCPF
F?C;5.K*6Q

+ ---2";8/6/:r"

F(+F2F?365025>Cv72A2,N1Z(+*Z/;FC;0b365./1>(+CPFIb361<83639F1<8C;39,N14C;5.*GC;D/;39,N14C;58*40)/;,N3<=')(+,.'<=(M:+:o/;:M:uC< A2*14CX7?3NF?3
H;36CPK36145.(M,,NCPF2,N360)1>*!*.A2,.'/;*JC;5>1>'2C;H;CPF2/;:+(u1Bs/;F27ux2CPA?5.(u365!*4365.(u39*6x361>,Q&'23DCP:+:uC<@(+F?H7?3NF239*J/;F (+F2F?365
025>Cv72A2,N16Q
m h ]L]&]GSJ Jt[I7`&MIHGNn]OG[7QGSJb(7GM_H[7JFAb"MDGF LAbD`]M_HKLK[Q]u}6) mGKn]OG\XDJt[7E
H[ RGSJG LAXGVLhHhGVJ [7J  AD`&MSHhob"H  @} } }
@} y  Yt} @' RGVJtGFHhG uY}6& GS]["HcGWAXHhGFMD[7EBjGMD[7]I^W`QambQHcGI
o@} J$ y  @} @}
m@}>  @} }  
@t} @ RGSJGFHhG [IM\MI`oJDAg[7]5CBS[7J@n "
yc)^& &='?3A2*>A2/;:b7?C;1=025>Cv72A2,N1(+F (M*/;F(+F2F2365025>Cv72A2,N16Q

ji u cl
][QJDE (+*/ H;39F?365./;:+(9/1>(+CPFtC;DX1>'?3(M7?39/;*C;DJ72(+*41>/;F),N3/;F27:u39F2H;1>'EQ *n*41>/I)(M:+(u1B1>'?36C;5.Bp(+*A2*>A2/;:M:uB
,NCPF2,N365.F2397 <=(u1>'1>'23*>(6 3C;D*4CPK3;39,N14C;5z*/;F27tKL/145.(+,N39*6x8<83HP(u;3'?365.3/mI25.(u36Dy7?39*>,N5.(+021>(uCPF C;D*4CPK3
F?C;5.K*Z1>'2/1-<=(M:+:rI3A)*4397L(+F1>'2(M*ICrCQ Q l 3@<=(+:+:v,NCPF2*.(+7?365)5.*>1Z1>'?3=F?C;5.K*ZC;D;39,N14C;5z*O7?3NF?397CPFL/;39,N14C;5
*40)/;,N3
<=(+1>'
1>'?3/;*>*4Cv,6(+/14397*.,6/;:+/5)39:+7
C;D5>39/;:FoA2KXIb365.* Q
z   "_" !#($ !&%

l J3 *41>/5.1CPA?572(+*>,6A)*>*>(uCPFC;DF?C;5zKL*{IoB5>36v(u36<=(+F?H!1>'?3KCP*>1D/;KL(M:+(+/5{F?C;5.K397n*40/;,N39*6x?1>'2/1(+*{1>'?3*>0)/;,N39*
C;DZ;39,N14C;5.*y<=(u1>',NCPF2*41>/;Fo1@39Fo145.(u39*6Q{eF1>'?3JDCP:+:+C<=(+F2H?xr;'r?7?39F?C;1439*@1>'?3X/I)*>CP:+A?143/;:+A?3C;D-
DC;5@/5>39/;:
C;51>'?3XKL/HPF2(u1>A2723yC;DZ(uD(+*,NCPKL0):u3NbQ
m hZz|][7JWE(') '[UbQGMIH[QJ@LAbJGb7T0b7`5GXD`]M_HKLK[Q]$GNn]OG\'[7]$HhGU7G\MIH[7JFAcb"MWGX
AD`&MVHhbQH
* '+@ 'I V[7JXb7h&@ R;LhHh,'/@' L b7]O[7]&CUL @n
o* '8)&@ '*-prr.'/@+'S[QJXb7h5@ b7] b7]&CUASM\bQb7J
m* '@ ~ 'I/
'/+@ ' ' 'S[QJXb7h&@} $
yc)^o
&='?3DCP:+:uC<=(+F?H/5>38CPKLKLCPFF?C;5zKL*J(+F

<=(u1>'
5.39/;:c,NCPK0bCPF?39Fo1>*6Q
Q sF2C;5.Kn0 '/@'6 u r0@;r#Q

<='?365.3 (+*1>'23*4361!C;DFv ;39,N14C;5.*

Q sF2C;5.Kn0'/@' 1 + r0@ r x2/;:M*4CvF?C<=Fn/;*=1>'?3JOA2,6:+(+7?39/;F


F?C;5zK
Q0&sF?C;5.Kn '/@'32q u r@ 2 r 5 4 Q
Q 6 sOF?C;5.K '@+'87L K/r:9)r  () }666}>FEQ
yc)^o{CPF2*>(+7?365{1>'?3J;39,N14C;5


@n @

&'239FEx;'n@'6 <x 'n@+' /;F27='/@' 7 Q

l 3F2C< 025.39*439Fq1/;F^(+K0bC;5>1>/;Fo1y0)5>C;0b365>1BC;D8F2C;5.KL*C;D8;39,N14C;5.*J(+F <='2(+,z'<=(+:+:Ib3A2*436DA2:(+F1>'?3


*439rA?39:Q
> r ^
)GVH'@?'A@b7]O+'@B'ACDGb7]&C(HKR/['][7JWEgA3[Ub(7GM_H[7J@ ~)GS]$HhGSJGG"LASHhAn]&LKHcG
[0AWLhHKLh7GM\[7]ASHb7]5HhA ?F b7]O AW`&MSHhobQH
'/@' @ D'n@+'ACXZ 'n@' @ @ (
&'231<8CF?C;5.KL*J(+F1>'?3:u39KLK//5.3*>/;(+714CIb339rA2(u/;:u39Fo1/;F)7m1>'2(+*0)/5.1>(+,6A2:+/5025>C;0b365>1B<@(+:+:'?CP:+7
DC;5=/;FqB
1<OCF?C;5.KL*{CPF Q
yc)5 FEX[QHcGXHhGV[7h[7R;Lh]ma
Q1=,6/;FnIb3*>'2C<=Fn1>')/1DC;5 @ (
rr @rr%
HG rr @rr
rr @;rr 7 rr @rr%
rr @rr 7
rr @rr G rr @;rr 7
Qy{CPF2*>(+7?365/HP/;(MFn1>'?3;39,N14C;5yC;D-v/;KL0):u3 Q Q QO&='?39Fn<83J,6/;F,.'239, n1>'2/1
rr @rr G rr @rr
rr @rr 7 rr @rr%
rr @rr 7
rr @;rr G rr @rr 7
6


w@C;143L1>'2/1/nF?C;5.K K/9BI37?3NF?397m(+F27?360b39F27239Fq1>:uB
D5>CPK/;Fm(+F)F?365025>Cv72A2,N16Q :+*4C?x<O3L,6/;Fs723NF?31>'?3
H;39F?365./;:M(6397/;F?HP:u3Ib361<O3639F ;39,N14C;5.*y(+F A2*.(+F?H

@  @} I 'n@'J ' 'G,NCP8* K
<='?365. 3 K(M*{1>'?3/;F?HP:u3Ib361<83639F @/;F)7 )Q Ly*>(+F?H1>'?3(MF2F?365{025>Cv72A2,N16xv<83,6/;F7?3NF?31>'?3C;5.1>'?C;H;CPF2/;:+(u1BC;D
;39,N14C;5.*@IrB

@  @}
<='2(M,.'
C;DZ,NCPA?5.*43KL39/;F2*1>'2/M1 K! O NP Q
Q R\W T-_T
a SUV_8`bW.B[ F
eFKL/;FoB,NCPFo145>CP:c0)5>C;I):u39KL*9xr<83J'2/;314C7?39/;:c<=(u1>'n/L*4361=C;D*.(+KXA):u1>/;F?36CPA2*:+(MF?39/5/;:uH;36I25./;(+,39rA2/1>(uCPF)*
24 @ 2 @ 66 ) @
@ 4 @ 66 @
QQ QQ

@ @ 66 @




C;5=(+FnK/145.(nF?C;1>/1>(uCPF
6
B| @
DC;5@/;F ^KL/145.(un|Xx)/;F s ;39,N14C;5@/;F27/;F;39,N14C;5 Q{&'?30)5>C;I):u39K (M*14CLF)7n1>'?3J*4CP:MA?1>(uCPF
;39,N14C;5 @x?HP(u;39F| /;F27 QG&='?5>363,6/;*439*yKL(uHP'o11>7/ ;3J0):+/;,N3;
Q=w@C*4CP:MA?1>(uCPF
3N?(+*41
Q A2F)(+oA23y*4CP:MA?1>(uCPF
3N?(+*41>*
Q F(+F?F2(u143FoA)KJIb365C;DZ*4CP:+A?1>(+CPF2*{3Nv(M*41
eFC;5z7?365{14CLA2F27?365.*>1>/;F27<@'2/18(M*OH;CP(MF?HCPFExv<O3*>'?CPA):+7:+CoQC (+Fq14C!1>'?35./;F?H;3*40/;,N3/;F271>'?3FoA2:M:)*40)/;,N3C;D
1>'?3KL/145z(|Xx?<='2(+,z'
/5>37?3NF?397
/;*DCP:+:uC<=*6Z&'?35./;F2H;3C;D|<5.(u141439Fn/; * W |
+ @
C;5y1>'?3J*4361@C;DZ;39,N14C;5.*   KL/;7?3JA20C;D-/;:+:E0bCP*>*.(uI):u3:+(+F239/5=,NCPKJI(+F2/1>(uCPF2*=C;DZ1>'?3J,NCP:+A)KLF2*C;DZ|XQ@F
1>'?3LC;1>'2365J'2/;F27Ex1>'?3FrA2:+:*40)/;,N3LC;D{| 7?39F?C;1439Y7 X |
I@tbB| @ C;5X1>'?3L*4361C;D{;39,N14C;5.X* @
*>A2,z'n1>'2/1=B| @
Q
yc)c v '?C <1>')/Z1 W | (+*/L*.A?I)*40)/;,N3C;D  /;F)*7 X | (+*/*>A?I)*40/;,N3C;D Q

w@C<xG:+CoCQv(+F?HI)/;,^/11>'?3
:+(+F239/5X39rA2/1>(uCPF |@p x-(u1X(M*JC;Irr(+CPA2*!1>'2/1 *>'?CPA2:+7^Ib3(+F&W | DC;5/
*4CP:+A21>(uCP F @14CL3N?(+*416x(+F
C;1>'?365<8C;5.72*6x(uD<83DC;5.K
[ U |r
;
1>'?39Fo) \ [ ;o) | (+*/F239,N39*>*>/5>Bn,NCPF272(+1>(uCPFnDC;5=1>'?33N?(+*41439F),N3JC;DZ/1@:u39/;*>1CPF?3X*>CP:+A?1>(uCPFEQOw=C<x
(uD X | x/;F)7^(uwD @ (M*J/;FoBs*4CP:+A?1>(uCPFs14CB| @ x1>'239F @ (+*J/;:M*4C/*>CP:+A?1>(uCPFEQ&'?365>36DC;5>3;xDC;5/
A2F2(MoA?3*>CP:+A?1>(uCPFn14C3N?(+*416x)<83XF2363971>'2/]1 X | Q&='2/1=<=(M:+:b5>39rA2(u5>31>')/1=1>'?3!,NCP:+A2KLF2*C;D-|DC;5.K/
I)/;*>(M*C;D;W | x(Q3;QO1>'2/11>'?365>3J<=(+:+:Ib3sC;D1>'?39K /;F271>'2/1=1>'? 36B
<=(M:+:I3:M(+F?39/5.:uB(+F27?360b39F27239Fq16x?/;F27nC;D
72(+KL39F2*>(uCPFZQ-&'?39Fcx?1>'?3|KL/145.(
(+*(+Fo;365>1>(uI):+3/;F) 7 @n| (M*1>'?3A2F2(MoA?3*4CP:MA?1>(uCPFEQ
^ SW>j@/T V_Ah V/T ?_ F_SW>j@/T VynT `[@.a
= 361|Ib3J/;F KL/145.(bx/;F277?39F?C;143!1>'?3X,NC;5.5>39*40bCPF272(+F2HL(+7?39Fo1>(u1BKL/145z(nIoB )Q=&'?39FEx:u361 @ZIb3X/
F?CPF6365.CL;39,N14C;5y(MF /;F27a`2I3*.,6/;:+/5=*>A2,z'n1>'2/1
9
B| @)cb
`&@)
&'?39Fccx `2(+*8/;F39(uH;39Fq/;:+A?3yC;D|/;F)U7 @(+*O1>'?3y,NC;5.5>39*40bCPF272(+F2H39(uH;39Fo;39,N14C;59QO&'2365>3@<@(+:+:?Ib3y39(uH;39Fo/;:MA?39*
C;D@| *4CPK3
C;D=<@'2(+,.' 5>397)A2F272/;Fo1 QmF C;5.72365!14CF27^1>'2339(+H;39Fq/;:+A?39*!C;D@| <O3
5>36<=5.(u1431>'?3
025>36v(uCPA2*
39rA2/1>(uCPF
| `?K  @
9
w@C;1>(+F?HJ1>')//1 @ ,6/;FF?C;1OI3=1>'?3 6365>CX;39,N14C;59x2/;F275>39,6/;:+:+(+F2H1>'?3@,NCPF27)(u1>(uCPF2*ZCPF1>'?33N?(+*41439F),N3@C;Dc*4CP:MA?1>(uCPF2*
C;DZ:+(+F?39/5{39rA2/1>(uCPF2*9x2<O3*>3631>'2/1<83J'2/;3J14CL5>39rA2(u5.3
N
qo6 | `   r | `  r
l 3=1>'rA2*GC;I21>/;(+F/;FEe d7?36H;5>363@0bCP:uBrF2CPKL(+/;:x<='2(M,.'<='239FL*4361G14XC 6365>C?xrHP(u;39*G1>'23=,.'2/5z/;,N14365.(+*41>(+,=39oA)/1>(uCPF
r | `5 ri f `
` ` 66 ` hg
9
J ` `b  4 ` ` ]i 66 ` `j2  5
&'?365.36DC;5>3;$x `2Z(+*/;F39(+H;39Fq/;:+A?3C;D|C;D/;:uH;36I)5./;(+,K!A2:u1>(u0:+(+,6(u1BnQ8F?3,6/;F1>'?39F*.'?C<=*9x
@ | + J y

9
r

| r +k `2E g
:+*4C?x2(u)D `?(+*/;F39(uH;39Fq/;:+A?3;x?1>'239F*4C(+* `?Y Q
C<7?C<O3X7?3614365.KL(+F2339(uH;39Fq;39,N14C;5zD* l 3X72(M*41>(+F?HPA2(M*>' ,6/;*>39*6
9

Q =& '?:+:3939FE(uxvH;*>39A2Fo,6,N/;39:+A?*>*>39(+*J;39/:u5.BL3*>72A?(+I)*4*>1>1>(MF2(u1>,NA?161>(+F?HFm391>/;'),z(+'
*39,6(u/;H;*4393;Fox<O/;:+3A23 5.`2*41/;F2F277m*4| 39:u39q ,N1> |(+F?H! /;`5FqB F?<@CPF(u1>6'365>`C,N/;CP*:+A2/nKL0)F/5.HP/;(uKL;3936*{1436/;59:+:Q
39(+H;39Fq;39,N14C;5.*9Q
yc)) = 361

|
J9 @P J6
1>'239FEx)*4CP:u;3DC;5
r| `5r ` t6 ` P ` t9
<@'2(+,.''2/;* *>CP:+A?1>(uCPF2*9lx `E J } ` @ } ` @ Qw@C<x:+361A)*y*>CP:u;3DC;51>'23!39(+H;39Fq;39,N14C;5.*
A)*>(+F?H1>'?3J*.A?H;H;39*414397KL361>'?Cr7
` 6 ` P ` 6
| q | `& X9
` 6 ` `
`
J9
@P ` t9 `
*>CL1>'2/1DC;5 ` J <83J,6/;F*4363J1>'2/1=,NCP:+A2KF (+*
@c8U 9 99 >
v (+KL(+:+/5z:uB;"x @ U pv; > /;F)37 @ U !; > Q-&'?365.3y(+*8/;F?C;1>'?365KL361>'?Cr7C;DC;I)1>/;(+F2(+F?HX1>'?3
39(+H;39Fq;39,N14C;5.*yD5>CPK1>'?3723NF2(u1>(uCPFIrB/;,N1>A)/;:+:uB
*4CP:uv(+F?H| @b `?h @)

@w C;1431>'2/1CPF),N3/;:+:39(uH;39Fq;39,N14C;5z*=/5>3C;I21>/;(MF?397Exv<O3,6/;F/5.5./;F?H;31>'?39K (+F
/;F
KCv72/;:EKL/145.(u
~ @c@ 66\@ Qw=C;1431>'2/11>'?339(uH;39Fo;39,N14C;5.*!/5>3F?C;1XA2F2(+rA?3*>(+F2,N3L(uD@)(+*/;F^39(uH;39Fq;39,N14C;5x
1>'239F*4C(+*/; FoBn)@ DC;5=/;FoBn*>,6/;:+/5=OQ
Q F2v C;CP1-K3N3v39(M*4(uH;16Q39Fov A?/;02:+A20b39CP*Z*4M3 /5>`23b5>(M36*-0b/;39FL/143939(u7EH;39FoeF/;1>:+A?'23(+*<=,6/;(+1>*4'3;xr/;/FD/;A):u:+H;:o36*>I2365z1Z/;C;(+,D(+K!F)7?A236:u1>0b(u0)39F2:M(+7?,6(u391FoB1n39(uH;QZ39Fo&;'?3939,NFE14C;xq5.1>*G'?3@K72/9(MB!KC;395-F2KL*>(uCP/9BF
C;D{1>'?3w@A2:M:Z*40)/;,N3C;D| `?K <@'2(+,.'m(M*/;:+*4C1>'23FoA)KJIb365C;D:+(+F239/5.:uB(+F)7?360b39F27?39Fo1y39(+H;39Fq;39,N14C;5.*
/;*.*4Cr,6(M/14397<=(u1>'a` (+*1>'?3H;36CPKL36145.(+,JK!A2:u1>(+0):+(+,6(u1B C;D1>'2339(uH;39Fo/;:+A23m` Q l 3X,6/;F72(+*41>(MF?HPA2(+*>'
,6/;*>39*
/ x)A2:+:uB^7236H;39F?365./143,6/;*43 nF 1>'2(M*X,6/;*43n1>'2365>3
<=(+:+:GI3 y(+F27?360b39F27?39Fo1J*4CP:MA?1>(uCPF2*X14C
| `  @ 5./1>'23651>'2/;gF d>A2*41CPF?3;Q
yc)2|
{(u;39Fn1>'23JKL/145.(
6 P J J P .
| @ P J P
@ P J ; P
9

&='?39FEx2(u1>*,z'2/5./;,N14365.(M*41>(+,39rA2/1>(uCPF(M*
f ` n
` tN `  ` 9 ` 9;
&='?365>3L/5>3 5>CrC;1>*6<x ` <x ` o
` p
` Q l 3,6/;FmF271>'?339(uH;39Fo;39,N14C;5!/;*.*4Cr,6(M/14397
<@(u1>a' `b=/;* @cOU JJUt t > Q- &'?39FEx? <83 F27
P J P .
 | @ P J P @
P J P
&='?365>3/5>3/;Ft(+F?F2(u143
FoA)KJIb365LC;D*4CP:MA?1>(uCPF2*6x C;D<='2(M,.' /5>(3 @ s >U@
L > @ U L >

w@C;143m1>'2/1
F?C< (uD @ }66 @ /5.339(uH;39Fo;39,N14C;5.*nDC;5
39(uH;39Fo/;:+A2q3 ` x=1>'?39F*4C (M*/;FoB
+ K @)Q

I v (+K0):u37?36H;39F2365./143@,6/;*43 c 365>3=<O3=,6/;FF271>'23)5.*41Z39(+H;39Fq;39,N14C;5(+F1>'?3@A2*>A2/;:2KL39/;F2*6x
1>'239Fn<O3X'2/9;3X t amGS]GSJtb7Lj_G\GSLamGV]&7G\MIH[7JDAzQG&='?39*43/5>3C;I)1>/;(+F?397/;*
B| @ ` @
| `? @ @c
QQ QQ
| `? @ @

w@C;143J1>')/1=/;:+: @)DCPA2F27
1>'2(M*{<8/B
/5.3J:+(+F?39/5zs:uBr (+F27236039F)s7?r 39Fq16Q
yc) z

|
y J9 y
(+1>*,.'2/5z/;,N14365.(+*41>(+,0CP:+BrF?CPK(+/;:b(+*
f ` b
` ` 9 `  `
1>'239FE x ` X x ` t
` t
` QU&'?339(uH;39Fo;39,N14C;5C;D ` (M*39/;*>(M:uB DCPA2F27p14C Ib3
@ J  > QmF^ 1>'23C; 1>'?365@'2/; F27cxCPF2339(uH;39Fo;39,N14C;5 D y (+*XDCPA)F27s14CIbU3 @

>Gxb1>'?39'F @ |  @ :u39/;72(+F?H14C @
>
/; :M*49C?;&x @ ;|  J p @ *>C1>'2/?1 @ 9P ^ 9P 9;L > 9P ; ;
N

, { 39F?365./;:Z,6/;*43 
*>CP:u;31>'?30)5>C;I):u39KIrB<=5.(u1>(+F?H
| `?K  @
| `  @
| `?K  @

365>3;x/H;39F?365./;:14C;0&s7?C<=FmKL361>'?Cr7*>'2CPA2:+7I3A2*4397cQ 365>3<83

@  | `  @
@  | `?K @
| `2K @ |

| `  @
| `?K @ @c 
9
`2h  @c8
&='2(+*/02025.CP/;,.'^,NCPFo1>(+FrA?39*A2Fo1>(+:<83L5>39/;,z's1>'?3(MF27?3N C;MD ` Q&'2(+*(+F)7?3N(+*DCPA2F27m/;*J1>'?3
*.KL/;:+:u39*41(MFq1436H;365y*>A2,.'1>'2/1
9
;q) | `2h  n
1>'23y(+F)7?3N(MF272(+,6/1439*G1>'?3y:+39F?H;1>'LC;Dc1>'23@:uCPF?H;39*>1O,.')/;(+FC;DE39(+H;39Fq;39,N14C;5.*/;F)7H;39F?365z/;:+( 639739(uH;39F s
;39,N14C;5z*@/;*>*>Cr,6(+/14397<=(u1>a' `2Q
yc)5

|

(+1>*,.'2/5z/;,N14365.(+*41>(+,0CP:+BrF?CPK(+/;:b(+*
f ` b
`
*>C `bO <=(u1>'O QZw=3Nv16xrDC;5.KU| `E !|Xxo/;F27723614365.KL(+F?31>')/1Zo) | `b  Q
&='?365>3/5>31>'?39F 39(+H;39Fq;39,N14C;5.*J/;F27 H;39F2365./;:+( 639739(uH;39Fo;39,N14C;5.*6Q!&'?3XrA?39*41>(+CPF(M*@<@'?361>'?365
<83X')/9;3JCPF23J39(uH;39Fo;39,N14C;t5 sH;39F?365./;:M( 639739(uH;39Fq;39,N14C;5,z'2/;(+FnC;D-:+39F?H;1>' xC;5 ,z'2/;(+F2*=C;D-:u39F?H;1>'
(MF2Qn7?3N&mC(+,z*'?v39,Xs 1>')/Q16x1>'2F2(+C;*1431>'?1>39'2Fs/1XHPA2 /5z /;Fq 143639 *X1>'2xZ//;1JF2CP7sF21>3'2/,.'21J/;;(MF^o) '2 /; *| :+39 F?H;` 1> '  x KL/7 vx(+1>F?'?Hn365>1>36'?D3C;5>:u3;39xF?H;1>'?1>' 3
C;DZ1>'23JC;1>'?365,.'2 /;(MF ?Q x(u5.*416x,NCPF2*>(+72365 | `E  @ FoBn;39,N14C;5*> /1>(+*e39*=1>'2(M*39oA)/1>(uCPF
IA?1CPF2:uB ;39,N14C;5z*J/5>3L:+(MF?39/5.:uB(+F)7?360b39F27?39Fo16Q = 361A2*,z'?CrCP*43@c nn > Q!*1>'2(+*/;F
39(+H;39Fq;39,N14C;5C;5/H;39F?365z/;:+( 6397 39(uH;39Fo;39,N14C;W5 1(+*!/;F39(uH;39Fo;39,N14C;5*>(+F2,N3 | `E\  @c Q
v (+KL(+:+/5z:uB;x;@ nm > (+*/;F39(+H;39Fq;39,N14C;59QF1>'?3nC;1>'?365'2/;F27Exn@ ^n > (+*
/H;39F?365./;:+j( 6397^39(uH;39Fo;39,N14C;5*>(+F2,N3 | `2N  @
@c  Q v (+KL(+:+/5z:uB;.x @ > (M*J/
H;39F2365./;:+(6397n39(+H;39Fq;39,N14C;5/;*>*4Cv,6(+/14397<=(u1>' @ Q

eF*>A2KLKL/5.B39/;,z' KL/145.(')/;*=39(uH;39Fq/;:+A?39*y/;F27:+(MF?39/5.:uB
(+F27?360b39F27239Fq1;39,N14C;5.*9x39(+1>'?365
39(+H;39Fq;39,N14C;5.*yC;5H;39F2365./;:+(6397n39(+H;39Fq;39,N14C;5.*9Q
9

i- uc8-.-Tv;l

w /;*4397CPF1>'?3n/;F2/;:uBv*>(+*!/IbC;3;x8<O3n,6/;F025.Cr72A),N31>'?3Yx;C;5z72/;F DC;5.K C;D@/;FqB KL/145.(bQmeFD/;,N16xO(+D


<83'2/9;3n72(zyb365>39Fo1X39(+H;39Fq/;:+A?39*6xO<O3,6/;F F27/;:+:839(uH;39Fq;39,N14C;5z*@)xO*.A2,.' 1>'2/ 1L|B@)J{`2 @xG1>'?39F:u361
~ U @c? @ 66B @ x2/;F2Y7 | qPj } `2 QG&'2(M*8:+39/;72*{14C|y~ ~~|@Q l 3vF?C<1>'2/1~ 3N?(+*41>*=*>(+F2,N3
/;:+:G39(uH;39Fq;39,N14C;5z*L/5> 3(MF27?360b39F27?39Fo1J/;F27^1>'?365>36DC;5>3| ~ |@~iQ&'23Ix;C;5.7)/;F^DC;5.KC;D=|(+*X1>'?39F&|@Q
D-1>'?339(uH;39Fo;39,N14C;5.*J/5>3C;5>1>'2CPF?C;5.KL/;:xE~ U~ > QF1>'? 3,6/;*431>')/1 -nxE<83025>Cv,N363971>'?3*>/;K3
<{/9B14CC;I21>/;(+F t
|=QFs1>'?3C;1>'?365J'2/;F)7Ex(uD 8 x1>'?39FsA)*>(+F?H
1>'?339(uH;39Fo;39,N14C;5.*!/;F27H;39F?365./;:M( 6397
39(uH;39Fo;39,N14C;5.*/;*,NCP:+A)KLF2*OC;D~ <=(+:M:):u39/;714C qPj} 66 2 <@'?365>3y39/;,.' (M*O /;F27'2/;*
1>'?3DCP:+:uC<=(+F?H!DC;5.K
` 66 .
`2 66
` 66
Q Q Q Q Q
Q Q Q Q Q
`?
66_
66`2
x(+F2/;:+:+B;xr1>'23H;39F?365./;:c,6/;*>3<=(+:+:b'2/;3 xPC;5.72/;F
I):uCv, v*39/;,z'C;D*>( 63 P/;*@*>'?C<=Fn(+Fn1>'?33N?/;K0):+39*Ib39:uC<Q
yc)5 = 361

|
J9 @P J6
1>'?339(+H;39Fq/;:+A?39*/5.3 `bO X } ` @ } ` @ QG&'?339(+H;39Fq;39,N14C;5.*y/5>3
@c8 t >
v (+K(+:+/5.:uB;mx @ U L >/;F27 @ U ; >GQG&'?39Fcx

~ J @ @
;
1>'?39F

~ J J 9P = 9P
;;P PP
1>'?39YF |~ |@~iQ

yc)*{(u;39Fn1>'?3JK/145.(

6 P J X P
| @ P X P
@ P J ; P
&'?39Fcx2(u1>*,.'2/5z/;,N14365.(+*41>(+,39oA2/1>(+CPF(+*
f ` b
` pN `  ` t9 ` 9;
&'?365.3/5.3 5>CrC;1>*6x` x`
`
` Q l 3L,6/;FF271>'?339(uH;39Fo;39,N14C;5X/;*>*4Cv,6(+/14397m<@(u1>',` /;*
@c8 JU tp > Q-& '?39FE x?<83 F) 7 @ U L > @ L > ?@  > &='?365>36DC;5>3;x
J .
~ J
J @
1>'?39F
J P P J P J P .
~ J P P PP J P P JJ PP
P P J P P
1>'?39F

yc)5w@C<,NCPF2*>(+72365


|
@

.


J9

(u1>*,z'2/5./;,N14365.(M*41>(+,0bCP:uBvF?CPKL(+/;:b(+*
f ` b` ` 9 `  `

1>'?39FEx$` J x` b ` b ` @ Q/x(+F2739(uH;39Fo;39,N14C;5.*/;*Ib36DC;5>3/;F27nDC;5.K


J P 9P 9P
~ J X P P J P P @ P 9P
X

&'?39Fcx
J
@

@ @
yc)5

(u1>*,z'2/5./;,N14365.(M*41>(+,0bCP:uBvF?CPKL(+/;:b(+*
*4C`EO =< (+1>'
8 QG&'?39Fcx
1>'?365>36DC;5>3JK/7r(+F2H

f ` n`

zW he`[ ?T-[@aET
w@C;143J1>'2/1=| |^66 | (c1>(+K39*6Q-&'239FEx?<O3X'2/9;31>'23!{/9Bv:u36Bms /;K(+:u14CPFn1>'?36C;5.39K
o"!r = 361=| I3/;F sKL/145.(<=(u1>'n/L,z'2/5./;,N14365.(M*41>(+,39rA2/1>(uCPF
r | `5 f `
` 8` 66 8` g


&'?39Fcx
f | J | >| 66 .| g 

?T/_<Xh>T) _Z

yc)nLy*431>'?3{/9Bv:u36Bms /;KL(M:u14CPFn1>'?36C;5>39K 14CF27


1>'23(+Fq;365z*43C;D/LKL/145.(n|
J | .| 66 .| g 
1>'?39FEx
J | .| 66 \ g |
| g J | .| 66 \ ;


v

] [=aET [B ] _8`bacWZTn
&'?3y3Nv025>39*>*>(+CPFY }>|@y >|B@(+*O/XI)(+:M(+F?39/5GDC;5.KnQ l '?39F @n<O3'2/;3/!rA2/;7?5./1>(+,@DC;5.K @&>|B@Q
-;365.BK/145.(|,6/;FIb3<5.(u141439FL/;*G1>'?3=*>A)KUC;DE/J*4BvKLK36145.(M,/;F27L*t;36<*4BrKK36145.(+,KL/145z(+,N39*G(uDb(u1-(+*-5>39/;:x
/;F27
C;D/ 365zKL(u1>(+/;Fn/;F27n*;36<s 365zKL(u1>(+/;Fn(uD(u1(+*,NCPK0):+3NQ-&'239FnF?C;1431>'2/10@}>|@y @}>|@'(+D
|(+*5>39/;:x2/;F)q7 @}>B| @y  @}> | @((uD|(+*,NCPK0):u3NbQ
F)PN : Skm w-G;^;qc :v5 
{(u;39F/;F sKL/145.(uY x?1>'?39F
Q (+*0bCP*>(u1>(+;S3 s7?3NF2(u143;x?(uD/;F27nCPF2:+B(u]D @8} @(
DC;5@/;:+: @  Q
Q (+*0bCP*>(u1>(+;3*>39KL(+7?3NF)(u143(uD @8} @' DC;5=/;:+: @Q
9

Q (+*(+F)7?3NF2(u143(usD @8} @'


DC;5=*>CPK3@/;F)7q@}8@' DC;5=C;1>'?365@Q
(M*ZF?36HP/1>(u;3@723NF2(u143 C;5G*439K(+7?3NF2(+143 (+D (M*Z0bCP*>(u1>(u;37?3NF)(u143 C;5G*439KL(+723NF2(u143 QDl(+*G*4BrKK36145.(+,
1>'?39F/;:M:E(u1>*39(uH;39Fo/;:MA?39*/5>35.39/;:Q
yc) rr

<* J[=\6`rY_aET

[`Tn_?FgSUT-\9TGaET/FZTn

paE[@kh.T

!0"r Z
G5>C;3J1>'?3 e

/145.(
Fo;365.*>(uCPF:u39KLKL/v
| | | | | | | | | | | | |
!0"r v '?C<1>'2/1/*4361yC;D-;39,N14C;5.*(M*=:+(+F239/5.:uB
7?360b39F27?39Fo1@(uDZ/;F27CPF2:uB(uDZCPF23JC;D-1>'?3!;39,N14C;5.*(+*y/
:+(+F239/5,NCPKJI)(MF2/1>(uCPF
C;D1>'?3C;1>'?365=;39,N14C;5.*@(MF
1>'?3J*43616Q
!0"r v '?C<1>'2/1@/;FqBn:+(+F239/5,NCPKJI)(MF2/1>(uCPFnC;D;39,N14C;5.*@D5>CP
K p(+*/;:M*4C(+F @Q
!0"r z 5>31>'?3J;39,N14C;5.*=(+F
1>'23I)/;*>(+*{DC;5=/0/5>1>(+,6A2:+/5*.A?I)*40)/;,N3A)F2(+rA?3
!0"r {(u;39Fs/I/;*>(+*DC;5J/*.A?I)*40)/;,N*3 @x,6/;Fs36;365>Bm;39,N14C;5(++
F Ib3LA2F2(+rA?39:uB5>36025>39*439Fo14397^/;*!/
:+(+F239/5,NCPKJI)(MF2/1>(uCPF
C;D1>'?39*43I/;*>(+*{;39,N14C;5.D*
!0"r v '?C<1>'2/1@(uD|(+*/L*4BvKLK36145z(+,KL/145.( (Q3;Qux2|| >-x?<='?365>31>'?3*.A?0b365.*>,N5.(u0)1G 7239F?C;1439*
145./;F2*>0CP*>3 x?1>'?39F
@ > | > | @
DC;5=/;:+:b;39,N14C;5.B* @/;F)7 C;D1>'?3J/0)025>C;025.(M/1437)(+K39F2*>(+CPFEQ
{(u;39F

@ @ > B| @ > @
<='?365.3| (+*=/;Fn s*4BvKLK36145.(M,yK/145.(bx)(+* /;Fn s72(+KL39F2*>(uCPF2/;:;39,N14C;59x/;F27 /L*>,6/;:+/5Q v '?C<1>'2/1
 @ | @

/;F27

@ |


!0"r {CPF2*>(+7?365{1>'?3JDCP:+:+C<=(+F2H!KL/145z(


|

Qe*1>'2(M*KL/145.(
(+Fo;365>1>(uI):u3axPA2*>1>(uDBB;CPA?5=/;F2*><O365
Q x:M(+F?(+F)397/5./;:uB:+:E(+39F2(u7?H;36390bFo39/;F2:+7?A?3939Fo*y18/;C;F25@7n:+(+1>F2'?393!/5.,N:uC;B5>5>7?3936*40b0b39CPF2F2727239(MFqF?D1 Ha39xP(uH;A239*4Fq1>;(+D39B,N14B;C;CP5zA?*@5=C;/;DZF21>*4')<8(+*365KL /145.(uQ 5.31>'?3J39(+H;39Fq;39,N14C;5.*
MQ Ly*431>'23!{/9Bv:u36mB s /;K(+:u14CPFn1>'?36C;5.39K14CLF)71>'23J(+Fo;365.*43C;DZ| (+D|(+*(+Fo;365>1>(uI:u3 Q
!0"r {CPF2*>(+7?365{1>'?3X*>/;K3KL/145.(u

|

Qe*1>'2(M*KL/145.(0bCP*>(u1>(u;S3 s7?3NF2(u143 nF236HP/1>(u;S3 s7?3NF2(+143 (MF27?3NF2(+143 xPA2*>1>(uDBB;CPA?5@/;F2*><O365
Qy/;F 72z( yb365>39Fo1KL/145.(+,N39*='2/9;3X1>'?3*>/;K339(+H;39Fq/;:+A?39D* xPA)*41>(uDBB;CPA?5=/;F)*4<O365
!0"r = 361| Ib3/;F ,NCPF2*41>/;Fo1KL/145z(Q&'239FExO<83,6/;F7?3NF23n1>'?3KL/145z(3Nr0bCPF?39Fo1>(+/;:
V@j |@ /;*@/;Fn mKL/145.(ux2*4CP:MA?1>(uCPF
14CL1>'?3XKL/145.(n72z( yb365>39Fo1>(+/;:b39oA)/1>(uCPF
qj | 
qP
<='?365.3   (M7?39Fq1>(+1B KL/145.(uQeFtC;1>'2365<8C;5.72*6x=I @ |@ *>/1>(+*4)39*1>'23/IbC;3mKL/145.(u
72(zyb365>39Fo1>(+/;:b39rA2/1>(uCPF/;F27/;:+*4CV@j | )Q
MQ Ly*431>'23D/;,N1>*=HP(u;39F*4CD/5=/;F)7n1>'?3025>C;0b365>1BC;D1>'?3 = /0):+/;,N3145z/;F2*4DC;5.KL*
 ? 
14C*>'?C< 1>'2/1
"  |=
Q=G;39F(uDB;CPA7?CPF  1025>C;3J1>'?3025>36v(uCPA2*{5.39:+/1>(uCPFEx2A2*>3(u114CF27 " (+D
| n
!0"r m = 361L| I3n/KL/145.(uD5>CPK 14C  (Q3;Q| '2/;*g5>C<=*L/;F27 ,NCP:+A2KF2*6xG*4C1>'2/1L(+D
@ ' x?1>'?39F |B@ '  Q
v

Q *.v A?'?I)C*4<0)/;1>,N'23/1{C;D 1>'? 3wyQ A2:+:*40)/;,N3C;D|XxX | (+*{/*>A?I)*>0)/;,N3@C;D /;F271>'2/11>'?35./;F?H;3C;D|Jx:W | (+*{/



39F2,N3;xcX | /;F)7aW | '2/9;3<839:+:s7?3NF?39772(+KL39F2*>(uCPF2*9Q8eFD/;,N16xb1>'?3!72(+K39F2*.(uCPFnC;D<W | (+*1>'23J5./;F
C;DG| 7239F?C;14397IoB;o) | <='2(M,.'(+*=1>'23!FrA2KXI365yC;DG:+(MF?39/5.:uBn(+F272360 39F)7?39Fq1,NCP:MA2KLF2*y(+F|JQ y39F?C;1431>'?3
72(+KL39F2*>(uCPF
C;DlX | IoB
J | Q{&'?39F,NCPF2*>(+72365=/;FqB
I)/;*.(+*I@) + C;DlX | x/;F)7,NCPK0):u36143X1>'2(+*I/;*>(+*
(+Fo14C/LI/;*>(+*C;D IoBn/;7272(MF?H J | :+(+F?39/5.:+B(+F27236039F)7?39Fq1{;39,N14C;5.X* I@ + y Q{&'?365.36DC;5>3;x/;FqB
@ ' KL/BIb3<5z(u141439Fn/;*=/L:M(+F?39/5,NCPKJI(+F2/1>(uCPFnC;D @*4C1>'2/1

@
+ h @)
Q w:M(+F?B39/DC;5.:u5.BKL(+(+F2F27?H360bB| 39@F27?*>39'?FoC16< QZ&1>'2'?/3615>361>DC;'25>33;x2;*>39'2,N14CC;<5.'* 1>'2 / 1 c + y B| @) + y *40/;F W | /;F27p/5>3


o) | c J |
!0"r ) v A?020bCP*43 @
(M*O/X;39,N14C;5(+F X | Q v '?C<p1>'2/w1 @n(+*OC;5>1>'?C;H;CPF2/;:14C!36;365>BL;39,N14C;5=(+F W | > Q
!0"r r {(u;39F/m*4361C;Dy;39,N14C;5.
* I@c6}666t} @PQ v '?C< '?C< 14CF27/m*4361C;gD [7JSHho[7]O[7JDEb7G;39W, s
14C;5. * }666} j >~ /*>0)/;F2F2(+F2H1>'?3*>/;K3*40)/;,N31>'2/1<8/;**40)/;F2F2397IrZB I@ PQ 39,6/;:+:{1>')/1/;F
C;5>1>'?CPF2C;5.KL/;:c*4361=C;D;39,N14C;5.*y(+*/L*>361C;DZ:+(+F?39/5.:+B(+F27?360b39F27239Fq18;39,N14C;5.*@39/;,.'')/9v(+F?HLF?C;5.K C;D Q
365.(uDB1>'2/1=,NCPK0):+3N
FrA2KXI365z*,6/;FIb35>36025>39*439Fo14397IrB
KL/145.(+,N39*v(+/
Z

<=(u1>'1>'?3
A2*>A2/;:O5.A2:+39*JC;D=,NCPKL0):u3NFrA2KXI365z*X/;F27 C;D=K/145.(^KL/;F2(+0)A2:+/1>(uCPF)*6x(Q3;Q,z'?39, /;7272(+1>(uCPFExZ/;F27
K!A2:u1>(u0):M(+,6/1>(uCPFEQ
!0"r o|
{(u;39F/L14C;0 s,NCPK0)/;F2(+CPFKL/145.(
) 66
66
| QQ QQ QQ QQ
QQ

66

v '?C<1>'2/1=(+D;`(+*/;Fn39(uH;39Fo/;:+A?3C;D|1>'?39F
U` 66` >(+*1>'?3,NC;5.5>39*40bCPF272(+F2H!39(+H;39Fq;39,N14C;59Q

Das könnte Ihnen auch gefallen