pinto rfc109 los conflictos ambientales

I< N 2 ?BEB

4hY ;; ! GY%('0<F5A 0./$0/.$-)($'*0$*

AjWO\Y 8]ZOMSLV

78E86;B 4@5<8AG4?

7S\OM^Y\7\%4VNYEYN\gQ_OcFLVL]

14 36@7=>4569.:<:* $#)! 9465" !/:5:A ,<?B! 2B4"* -786 %#$#"%,* ;"+ &'Q%* ?G"

5:08 -+,!-,+!*&%!$'-!'

%"2I?NLEH="&" 6OLEMJLO@AH?E="122 '($

!#J<<C < ViX \ Y\WONY OVOM^\iXSMYNO ZeQSXL]1

87<6<BA8F 7<>d $9BEB 78 6HKB

G_M_WeX $&( !,,'(" :YNYb 6\_c

GOV&9La%!')-(" +)+$'+(.

@OXNYcL $ 4\QOX^SXL%

8$WLSV1ONSMSYXO]3PY\YNOM_bY%MYW

D_ONL ROMRY69NOZi]S^Y [_O Z\O`f 94?Ob J $$"'%&<WZ\O]Y OX@OXNYcL$4\QOX^SXL

C 8NSMSYXO]7SUf$9Y\Y NO 6_bY)'('

4A?D= @A?=N=FIC=?EYH.&'#$-#&$%$

7AR 8T &)"((*

/LN" &- ! 9OEAHAMLAJLI@OS?=HAH BILG= B=?MEGEF=LOHFE>LII J=LNAM@AVF MEH

=ONILES=?EYH@AMO=ONILR @AMOA@ENIL MALUHM=H?EIH=@IM?IH GOFN=@AJAMIMMANA?EAHNIM?EH?OAHN== @EASGEF"3H ?=MI @ALAEH?E@AH?E= F=JAH= MALU@AJLEMEYH@AOH GAM = @IM=XIM" 3MN=MM=H?EIHAMMA=JFE?=LUH=OH ?O=H@I F=LAJLI@O??EYHMA= LA@O?E@=I =GJFE=@=R MEAGJLAKOA AF DA?DI HI ?IHMNENOR=OH @AFENIGUMMAPAL=GAHNAJAH=@I"

140 HSPFGSVFHNSRJWPS\WLNL]RS J[TVJWFRPFSTNRNdRIJ PF0NVJHFaRRNIJ PF

' 1INXSVNFP&\WYWKNVQFRXJWWSRVJWTSRWFGPJWIJ PFWQNWQFW(

=YJIF VN(((LQD66FQJRXJTVSMNGNIF(WNRPFFYXSVNWFHNaRJWHVNXFIJ PSWXNXYPFVJWIJP$$/ST\VNLMG,&GFOSPFWWFRHNSRJWJWXFGPJHNIFWJR VL] VObO]#PFVJTVSIYHHNaRXFPF!S TFVHNFPIJ Y)F SGVFTSV HYFPUYNJVQJINSSTVSHJINQNJRXS&HSQTVJRINISWPFVJTVSP&VFKXF6!JPXVFXFQNJRXSNRKSVQaXN('S&%#PFINWXVNGYHNaRIJ JOJQTPFVJWIJ JPPFQJINFRXJFPUYNPJVS TVbWXFQSTeGPNHSW(

05> /@;> R&(!(&&#VV\V<<<VEH < =2 VVV

9519.>;? @5* 8 V O 9-??5:5 /;>>1- $2NPSWSKcF%

0V( /FVPS6-( 85B188->- $0JVJHGSIJP@VFGUOS%0V( -PGJVXS9FRYJP ?^:/41E$0JQ#G= <eGPNHS%

0V( /FVPS6IJ /-?-? $0JVJHGS<JP)F"0V( ;6P#FPIS/;88 $0JVJHGS/SQJVaF"

(0V( -PJOFRIVS.;A8_: $0JVJHMS<VSNJWFN%0V( >SGJVXSA>>A@53;5@D$0JVJHGS /NZN"0V( 0FRNJP.A?@;? 8-3;? $0JVJHMS/NZN

05 1/@;>1? 01 ?4 105/5`:+0VF( ?NPSNRF2A>8;@@5 $9JP)IS]F%

(9FVcF6:PNF.->>1?1 $:JYUYbR% ( &9FVcF3N9F <105/;:1 IJ B-88? $@XPN#YQFPP

IJP1WXJVS%FRNJXC'688-> !FFPXF\ A<VT"

S 36XP /_- C1:7 $2SVQSWF&/MFHS

< W

(+- "+*%('".+- )!'$*. ($-$* "/$*" - &0#,'" -<AF8DCDB H<A6<4?8E

<SV IP46!&9EXP)MGMS<6:?;

!&$"#% .+8;7 GYVWSWHIf]^YE IR PEPAITXcFPMEP1V.KIRXMRE#!PEQEXIVMEEQFMIRXEP/*&5P EQFMIRXIGSQS FMIRXYXIPEHSIR IP VeKMQIRGSRWXMXYHSREPQ/KIRXMRS/0+ 3SQTIXIRGMETEVEVIWSPYIV3() JPMXXS7EQFMIRXEPIWWSFVIVMSWMRXIVTVSSQEEMIWIR&1VKIRXMRE/E&5P HIWPMRHIHI GSQTIXIRGMEWSFVIEKY3P7IR IPWMWXIQEJIHIVEPEVKIRXMRS/F&FIE f!SRNPMHS&VIRXVI5WXEHSWTVSSMRGMEPIWWSFVI3@7^V;7MRXIVNYVMWHMGESREPIW/M&>SPYGMSRIWGSRYIRHSREPIW/MM&>SPYGMSRIWMYVMWHMGESREPIW/G&V**IE GSRNPMHS7TEVE PEXYXIPEHIPHIVIGLS7XPMNIXMZSEPEQFMIRXIIR GYIRGEWMRXIVNYVMWHMGESREPIW&b&3SRGMEWMSRIW&

! &58 +:7858 ,- )/:) -4 2) '-6>*20+) #7/-4904) < 2) 3)9-70))3*0-49)2

FX L\g€Yc`ZX<i^\ekèX j\ dXe`]`\jkX gfc}k`ZXd\ek\ Zfe leX\jkilZkliX k\ii`kfi`Xc fi^Xe`qX[X ]\[\iXcd\ek\ d\[`Xek\ /0 @jkX[fj fali`j[`ZZ`fe\j cfZXc\j Xlk•efdXj [\efdèX[Xj JifmèZ`Xj *d{j cXccXdX[Xu>`l[X[ <lk•efdX [\+ =l\efj <ì\jw*( Zfii\jgfe[`\e[f \c6.(0$ [\ jlj X^lXj XZl\eZXj èk\igifmèZ`Xc\j .+

@jkX[`m\ij`[X[ [\ ali`j[`ZZ`fe\j cfZXc\jhl\ ZfdgXik\e k\ii`kfi`Xc*d\ek\ cX^\e\iXc`[X[ [\ cXjZl\eZXj _}[i`ZXj `dgfikX cXe\Z\j`[X[ [\Xgi\Z`Xi\c i|^`d\e hl\ i\^lcX cXi\jfclZ`•e [\ cfj gifYc\dXj gifg`fj[\ cX^\jk`•e [\ cXj X^lXj( l d{j \jg\Z}]`ZXd\ek\ \e i\cXZ`•e X cXgi\j\imXZ`•e [\c XdY`\ek\ Zfe\of Xcfj Zlijfj [\ X^lX l jl ^\jk`•e+

JXiXgiXZk`ZXikXcXe{c`j`j(\e cfj XgXikX[fjj`^l`\ek\j XeXc`qXi\dfj\c XcZXeZ\[\c XdY`\ek\ Zfdf Y`\e klk\cX[f ali}[`ZXd\ek\( \e cXèk\c`^\eZ`Xhl\ j•cf cXX[\ZlX[X [\k\idèXZ`•e [\c gfj`Yc\ fYa\kf [\le Zfe]c`Zkf XdY`\ekXcgl\[\ \eZXlqXi X[\ZlX[Xd\ek\ cX\o`jk\eZ`X[\ le m\i[X[\if ZXjf \e cXdXk\i`X+@e \jkXZfej`[\iXZ`•e Zfek\dgcXi\*dfj cfj d\ZXe`jdfj [\ klk\cXXcfj hl\ gl\[\e i\Zliiì cfj Z`l[X[Xefj

* :FEJ<AF =<;<I8C ;< @EM<IJ@FE<J% ?[_ ^QOa^_[_ TUP^maXUO[_PQM^SQZÙZM%K! /% :=@%9hXabf 8\eXf% *2/2% cwZ' 1.'

*)/

!C'$))')')!'$) )!)')))*

Xek\ j`klXZ`fe\j [\ Xck%HD •e %** D %...8U.(Mc%7U@_?"W_3@@@@#"Utt _\g#*#"$** kc%XdgXif XdY`\ekXcf cX[\ iZZfiegfj` `•e [\ W*_**) "_ @____[\#"@*@3g@+j+

( J\if X[\d{j( XeXc`qXi\dfj kXdY`|e cXYXj\ ZfdgZkZeZ`Xchl\Zfii\jgfe[\ \e i\cXZ`•e Xcgf[\i p ]leZ`•e [\ gfc`Z}XXdY`\ekXcl [\X^lXj \e \c j`jk\dX ]\[\iXc Xi^\ekèf( Xgi\Z`Xe[f [\j[\ \jkXg\ijg\Zk`mXcfj d\ZXe`jdfj Zfejk`klZ`feXc\j gXkX[ì`dì Zfe]c`Zkfj \e cXdXk\i`X+

AèXcd\ek\( gifZliXi\dfj è]\iì ZfeZclj`fe\j \e ZlXekf Xc\jkX[fXZklXc[\c i|^`d\e ali}[`Zf hl\ \eZXlqX cfj Zfe]c`Zkfj XdY`\ekXc\j \eZl\eZXj èk\igifmèZ`Xc\j Xi^\ekèXj(

/+ @cXdY`\ek\ Zfdf Y`\e klk\cX[f \e \c i|^`d\e Zfejk`kl*Z`feXcXi^\ekèf+

>fdf leX Zl\jk`•e gi\c`dèXi( Xlehl\ ef d\efi gfi \ccf( \je\Z\jXi`f XeXc`qXi\c XcZXeZ\hl\ gi\j\ekX \c XeMYek\ Zfdf Y`\eklk\cX[f \e <i^\ekèX( @jkXZfej`[\iXZ`•e g\id`kì|% gfjk\i`fid\ek\Xk\e[\i \e cf jljkXeZ`Xc cX\o`jk\eZ`X [\ Zfe]c`Z j gfi X]\ZkXZ`•eXdY`\ekXc(pXj\X XgXikì[\ cX[\]\ejX [\c [\i\Z_f Xle XdY`\ek\ jXefp \hl`c`YiX[f \o`^`Yc\ gfi Gf _XY`kXek\(f pX j\X X gXikì [\ cXjfYc`^XZ`fe\j hl\ \o`jk\e \eki\ sjkU[fj gifmèZ`Xc\j(

FX >fejk`klZ`•e Xi^\ekèXjXeZ`fi`X[X**s520 ef Zfek\dgcXYX\ogc}Z`kXd\ek\ \c [\i\Z_f X le Z`\ikf e`m\c XdY`\ekXc( Xlehl\ cXali`jgil[\eZ`X, p [fZkièX%jlgf \eZfekiXi kXcgi\iif^Xk`mX `dgc}Z`kX

/ AhmZTWb ap + WX Ge\`XeT @afgTaV\T =XWXeT_:bagXaV\bfbTW`\a\fgeTg\ib% UZ^Q>M``MZ%8 &<' P bg Z+ :[NUQ^Z[ AMOU[ZMX#C[PQ^ 8VQOaÙb[$%fXagXaV\T WX_*) WX `TlbWX*21,% CT CXl%N\ *21,&;% cwZ' .0/'-p %AhmZTWb:\i\_' :b`XeV\T_ l D\aTf WXDXaWbmT%UZ^Q @[^MXQ_%HUO`[^ ;' p DUZMXPU='=' O(C^[bUZOUMPQ @QZP[fM \(4OOUqZ PQ 4Y\M^[%fXagXaV\T WX_+ WXbVghUeX WX *21/% <_ ;XeXV[b% K" *+,% g{h+ .,2'

0 ;XfWX _T WbVge\aT ]heyW\VT%gX`ceTaT`XagX X_ `TXfgeb >h\__Xe`b :8EFcebc\V\TUT WXfWXce\aV\c\bf WX_TWxVTWTWX*20) oX_ eXVbabV\`\Xagb f _XZ\g\`TV\{a WX_T VT_\WTWWX bUeTe%Xfgb Xf WX_WXeXV[b WX TVV\baTe ]hW\V\T_b TW`\a\fgeTg\iT`XagX TXag\WTWXf Vyi\VTf b T VhT_dh\XeT WX_chXU_b%Xa \agXexf WX_TcebgXVV\{a TÙ\XagT_r% _bdhX ocTeXVX fXe ha \afgeh`Xagb \aW\fcXafTU_X cTeT Vbage\Uh\e T _T XYXVg\iT Tc_\VTV\{aWX_T_XZ\f_TV\{a TÙ\XagT_' <_ gX`T ''' fX VXageTT_eXWXWbeWX_TaTgheT_XmTWX_WXeXV[bb \agXexf _XZ\g\`b _Xf\baTWb dhX cXe`\gT TVV\baTe Xa ]hfg\V\Tr4 o<a `\ bc\a\{a &WXXQSQRQ^QZPM&_bf f\Zh\XagXf WXUXe\Ta fXe T_Zhabf WX _bf ce\aV\c\bf WX_WXeXV[b TÙ\XagT_\agXeab3 ''' X$ cTeT eXVbabVXe gygh_bcTeT `biXe TVV\{a cebgXVgbeTb eXfTeV\gbe\T WX _bfWXeXV[bf TÙ\XagT_Xf% ab WXUXeyTfXe eXdhXe\WT_TcehXUT WXhaT _Xf\{a \aW\i\WhT_`XagXfhYe\WT b XfcXeTWT' WXU\XaWb UTfgTe _T WX_WTzb bU]Xg\ib T_ Xagbeab Vb`b U\Xa WXW\fYehgX Vb_XVg\ibr4 :8EF% >h\__Xe`b% o@agebWhVV\{a T_ ;XeXV[b l 8W`\a\fgeTV\{a8Ù\XagT_Xf 8eZXag\abfr% Xa 7[OaYQZ`[_ PQ F^MNMV[& *Tf' =[^ZMPM_ 4^SQZÙZM_ WX7Q^QOT[ p 4PYUZU_`^MOUqZ4YNUQZ`MXQ_%8fbV\TV\{a cTeT _T GebgXVV\{a WX_8Ù\XagX%

' 9hXabf 8\eXf% *.&*0 WXTUe\_WX*20-% cwZ' *1 R +1' <a \ZhT_ fXag\Wb' iXe iXef\baXf WXXfgX geTUT]b chU_\VTWTf Xa IXi\fgT CT CXl WX_**(*+(/-% p Xa fh Kb`b *.- #*20-$% cwZ'2*-'

*)0

;@X! <A<A'"

[\ekif c\ . M ccXdX[fj [ek%+_ j ef \eld\iX[fj hl\ klk\cX\c Xikf00[\c g+ok Zfejk`klZ`feXc+

@e .660( cXF\p eXZ`feXc/1+0-6 [\ZcXi• cXe\Z\j`[X[ [\ i\]fidXZfejk`klZ`feXc( [Xe[f ]fidXc è`Z`f X [`Z_f gifZ\jf( p [\c`d`k• cXjXki`YlZ`fe\j hl\ fjk\ekXi}X cX>fem\eZ`•e >fejk`klp\ek\( @e \jk\j\ek`[f( p Xjld`\e[f cXj \o`^\eZ`Xj Z`l\ \e dXk\i`X XdY`\ekXc_XY}Xk\e`[f hl\ ZfejldXi cXali`jgil[\eZ`X p [fZkièX i\]\i`[X( _XY`c`k•X[`Z_X >fem\eZ`•e X [\YXkì p i\jfcm\i jfYi\ gi\j\imXZ`•e [\c d\[`fXdY`\ek\ &Xik+0'(

FX>fem\eZ`•e >fejk`klp\ek\ [`jZlk`• [`m\ijfj gifp\Zkfj ]le[X*[fj \e le [\jgXZ_f gfi cXdXpfi}Xp \e [`m\ijfj [\jgXZ_fj dèfi`kXi`fj(< g\jXi [\ \jkXj [`m\i^\eZ`Xj( \e kf[fj cfj ZXjfj cfj [\jgXZ_fjZfèZ`[}Xe \e jlj i\jg\Zk`mXj gifgl\jkXj [\ i\[XZZ`•e \e \c k\okf [\c]lklif Xik}Zlcf \e cf hl\ _XZ\ Xci\ZfefZ`d`\ekf [\c [\i\Z_f XcXdY`\ek\!( >cXif \jk{ hl\ Xg\jXi [\ [`Z_XZfèZ`[\eZ`X( fkifj Xjg\Zkfj[\c Xik`ZlcX[f hl\ [\c`d`kXYXe cXZfe]fidXZ`•e [\ kXc[\i\Z_f efi\jlckXife kXegXZ}]`Zfj(Zfdf gl\[\ Xgi\Z`Xij\ [\ cXj gfj`Z`fe\j l

\ogi\j`fe\j hl\ cfj Zfem\eZ`feXc\j i\Xc`qXife Xcf cXi^f [\c [\YXk\+

<j}( gfi \a\dgcf( cXj [\fcf^}Xj hl\ gi\j\ekXYXe leX m`j`•e Zi}k`ZX[\c XekifgfZ\eki`jdf p cXj[\ dXpfi Zfdgifd`jf Zfe cXjfc`[Xi`[X[XdY`\ekXcgifg`Z`XYXele gXg\c^XiXek\[\c @jkX[f \e \c Xj\^liXd`\ekf[\c [\i\Z_f XcXdY`\ek\( @e \jk\ j\ek`[f( \c ZlXikf [\jgXZ_f gfi cXdèfi}X gi\j\ekX[f gfi E6R&<DB78D l fkifj *Xlehl\ dXek\e}X cX^\e\iXc`[X[ [\c k\okf gifgl\jkf gfi cXdXpfi}X\e cfj i\jkXek\j Xjg\Zkfjgifp\ZkX[fj \e cXdXk\i`X* gi\k\e[}X hl\ \c @jkX[f(d{j hl\ gifm\\i!(^XiXek`Z\cXlk`c`qXZ`•eiXZ`feXc[\ cfj i\Zlijfj eXkliXc\j( cX\[lZXZ`•eXdY`\ekXc(cXgifk\ZZ`•e [\ cXj\jg\Z`\j hl\ Zfe]`^liXe cX]cfiXp ]XleXj`cm\jki\j ZfekiXcfj d|kf[fj hl\ cc\m\eXjl [\gi\[XZ`•e( \c gXki`dfe`feXkliXc p ZlckliXc( cX[`m\ij`[X[ ^\s+|k`ZX(gi\ZXlk\cXe[f \c èk\i|jeXZ`feXcp \c [\i\Z_f XfYk\e\i p i\Z`Yì è]fidXZ`•e X[\ZlX[X+

<c ]le[Xi \jkX gfjkliX \c >fem\eZ`feXc E6R&<DB78D èkif[lafi\]c\o`fe\j jfYi\ cXe\Z\j`[X[ [\ XjfZ`XicXc`Y\ikX[XleX i\jgfejXY`c`*

1 :FEM<E:\vE E8:@FE8C :FEJK@KLP<EK<% ;\Te\b WXJXf\baXf% )+` IXha\{a%,p JXf\{a FeW\aTe\T%+) WX]h_\b WX*22-% cwZ' */).'

2 <_ gXkgbTcebUTWb%hl f\`\_Te T_WXfcTV[b WX_T`TlbeyT% XfgTU_XVX dhX oCTfThgbe\WTWXf cebiXXewa T _TcebgXVV\{a WXXfgX WXeXV[b%T _T hg\_\mTV\{a eTV\baT_ WX _bfeXVhefbf aTgheT_Xf%T _TceXfXeiTV\{a WX_cTge\`ba\b aTgheT_l Vh_gheT_l WX_TW\iXef\WTWU\b_{Z\VT l T _T \aYbe`TV\{a l XWhVTV\{a TÙ\XagT_Xfr'

*)1

G,D,DD!k ,.. X.DDDcZc

[X[ jfZ`XcgXiXZfii\^ì \c [\jgi c{f\gb [ %cX@_h__?___@V_aW%***d___"c(7*k`^}Xi\\dgcXqXi cXm`j`•e [\c u[\jXiifccf _ldXefw gfU%Y c(. u[Zjeii ..jljk\ekXYc\w \e ZlXekf \c \a\ \Zfj`jk|d`Zf ef \j \c _ dYiZ+ )** \jkXYXj\ [\ g\ejXd`\ekf( jfjk\e[i{ hl\ \c @jkX[f ef [\Y\ gifm\\i jèf^XiXek`qXicf XdY`\ekXc(pXhl\ gifm\\i ef \j Xj\^liXi Xcfj Z`l[X[Xefj\c \a\iZ`Z`f [\c [\i\Z_f( j`k`f j•cf kfdXi XZZ`fe\j hl\ ef jfe [\]è`k`*mXj!+@jkXgfjkliX j\i{ i\X]ìdX[X cl\^f gfi fkifj Zfem\eZ`feXc\j Zfdf><AD@LI( =<L>@M<N(G<LNyH@S FF<HI l \c d`jdf M>CLI?@L4(

cfj hl\ gfe[i{e |e]Xj`j \e hl\ gifm\\i c`d`kX cXXZk`m`[X[\jkXkXcX[`jgfe\i cfj d\[`fj gXiXjXk`j]XZ\i cf hl\ j\ gifZliX( g\if ef Xj\^liXle i\jlckX[f klk\cXi(

>fdf ZfekiXgXik\( cXjgfjkliXj hl\ ZfcfZXYXeXc_fdYi\ Zfdf\c\d\ekf YXj\ [\ cX[`jZlj`@%e Zfe `[\Xc\j c`Y\iXc\j hl\ `dgfe}Xe lec}d`k\ XcgXg\c èk\km\es%f `jkX \jkXkXcef j•cf Yiè[Xife leX m`j`•e]`cfj•]`ZX [`jkèkX!( jèf l\ *ej\Zl\ek\j Zfe \jkX m`j`•e `dglcjXifele [\i\Z_f XcXdY`\ek\ eZXlqX[f \e c}d`k\j i\^lcXYcZj c\^Xcd\ek\ *Zfdf fZlii\ Zfe cXfY ^XZ`•e [\ i\Zfdgfe\i \c [X~f XdY`\ekXc hl\[\ XZl\i[f Xck\okf ]èXcd\ek\ XgifYX[f \j uj\^€e cf \jkXYc\qZX cXc\pw*( p [fe[\ Xc@jkX[f Zfii\jgfe[\ leX fYc`^XZ`•e [\ d\[`fj \eZlXekf ugifm\\w Xs gifk\ZZ`•e [\ \jk\ [\i\Z_f(

@e [\]è`k`mX(ssk}Zlcf 1. [\c k\okf Zfejk`klZ`feXc i\Zf^`• lei|^`d\e &cl\ Zfek\dgcX hl\ _?SHSW )(&)!LEFMXERXIW0KS\ER HIP HIVIGLSE YREQFMIRXI 7E))($ IUYMPMFVEHS$ETXSTEVE IP HIWEVVSPPSFZQERS [ TEVE UYI PEWEEMSMHEHIWTVSHSGXMSEW7EXM^JdKEPPPEWRIGIWMHEHIWTVIWIRXIWWMRGSQTVSQIXIVPEWHI PEWKIRIVEdSRIWJXPPP,VE&Pâ[ XMIRIRIP HIFIV HI TVIWIVSEVMS&5P HEgS EQFMIRXEPKIRIVEVdTVPSJMXEVMEQIRXIPESFPMKEGMhRHI VIGSQTSRIV$WIKiR PS IWXEFPI\GEPEPI[&' ' '

k` :FEM<E:\vE E8:@FE8C :FEJK@KLP<EK<%;\Te\b WXJXf\baXf% )+` IXha\{a%,p JXf\{a FeW\aTe\T%+) WX]h_\bWX*22-% cwZ' */+/ P ff'

t :FEM<E:\vE E8:@FE8C :FEJK@KLP<EK<%;\Te\b WXJXf\baXf% *-p IXha\{a%,p JXf\{a FeW\aTe\T%+* WX ]h_\b WX *22-% cwZf' *02)% *02,% *02- P *02.eXfcXVg\iT`XagX'

5 GbeX]X`c_b%_TVbaiXaV\baT_IFLC<K T_YhaWT`XagTe_TcbfgheT WX_WXfcTV[b`Tlbe\gTe\b fbfghib dhX _bdhX fX dh\XeXZTeTag\mTeoab Xf haT abV\{a dhX fX eXY\XeXT _bf Xdh\_\Ue\bfaTgheT_XfWX_TÙ\XagX \agTaZ\U_X%TdhX_WbaWXX_[bÙeX ab [T gXa\Wba\aZhaT TVg\i\WTW'J\Za\Y\VTX_Xdh\_\Ue\bWX_bf TÙ\XagXf geTafYbe`TWbfcbeX_[bÙeXr'CTVbaiXaV\baT_G<CK@<I fbfghib T fh iXm dhX oab fX WXUXb_i\WTedhX _TcebgXVV\{aWX_TÙ\XagX ab g\XaXcbe Y\aT_\WTWX_Vh\WTWbWX_TaTgheT_XmTXa fy `\f`b f\ab X_Vh\WTWbWX_[bÙeX l X_TY\TamT`\XagbWXfh W\Za\WTW%dhX \`cbaX _TfTg\fYTVV\{a WXfhf aXVXf\WTWXfr%:baY% :FEM<E:\vE E8:@FE8C :FEJK@KLP<EK<% ;\Te\b WXJXf\baXf% *,p IXha\{a% ,p JXf\{a FeW\aTe\T%+) WX]h_\bWX*22-% cwZf' */)1 P */*,eXfcXVg\iT`XagX%

**)

8J'7 `X( X[Y(<(" "<'6VP'6'$$!'6666#* *"XXX`^=(PM2U^=X<HI .7+.%,.. PQ^QOT[%E PE66PMPM\EdhPPVEGMSREDHI PSW("<"("<<<h<#$L66VP'P'QOP!#* PE\^Q_Q^[MOUmZHIPTEXVMQSRMSREXYVEPeQP'PPVEPe HI PEHM'PP!'.VMV'V'VJFMSP"fKj!E$e E PEMRJSVQEEdRe IHYGEEdREQFMIRXEPIW&

3SVVIWTSRHIE PE:EGMdR HMGXEVPEWR()-7PE>UYI GSRXIRKERXSWTVIWYTYIWXSWQMRMQSWHI TVSXIGEdR$[ E PEW\^[bUZMM_%PEWRIGIWEVMEWTEVE GSQTPIQIRXEVMEW$WMR"]AQ EUYIPPEWEPXIVIRPEWNYVMWHMEMSRIWPSGEPIW&

>I TVSFfFI IPMRKVI7SEPXIVVMXSVMSREGMSREPHI VIWMHYSWEGXYEPSTSXIRGMEPQIRXITIPMKVS7S&C^#!HI PSWVEHMEGXMMSWb&

Elekf Zfe \c i\ZfefZ`d`\ekf \ogi\jf [\c [\i\Z_f XcXdY`\ek\ \e\c k\okf Zfejk`klZ`feXc( \c Xik}Zlcf 10 [\ cX>XikX GXêX! i\X]ìd• cX\]\Zk`mXgifk\ZZ`•e ali`j[`ZZ`feXc [\ kXc[\i\Z_f( XcèZclì cf ui\cXk`mfX cfj [\i\Z_fj hl\ gifk\^\e XcXdY`\ek\w [\ekif [\c i|^`d\e [\ cXXZZ`•e \og\[`kX l i{g`[X [\ XdgXif gXiXcXgifk\ZZ`•e [\ cfj [\i\Z_fjl ^XiXek}XjZfejk`klZ`feXc\j mlce\iX[fj(

?\ \jk\ df[f( cfj Xik}Zlcfj 1. p 10 [\c el\mf k\okf [\ cX>fejk`klZ`•e HXZ`feXc i\ZfefZ\e \c [\i\Z_f X le XdY`\ek\ jXef(\hl`c`YiX[f( Xgkf gXiX\c [\jXiifccf _ldXef l gXiX hl\ cXjXZk`m`[X[\jgif[lZk`mXj jXk`j]X^XecXj e\Z\j`[X[\j gi\j\ek\j jè Zfdgifd\k\i cXj[\ cXj ^\e\iXZ`fe\j ]lkliXj8 Zfdf kXdY`|e \c Zfej`^l`\ek\ [\Y\i [\gi\j\imX[f( <j}( cXL\g€Yc`ZX <i^\ekèX j\ jld• X leX k\e[\eZ`Xgi\j\ek\ \e \c ?\i\Z_f >fejk`klZ`feXc ZfdgXiX[f .-( [Xe[f cl^Xi X cX

6 o8eg\Vh_b-,&"KbWTcXefbaT chXWX\agXecbaXeTVV\{aXkcXW\gTl ewc\WTWXT`cTeb%f\X`ceX dhX ab Xk\fgT bgeb`XW\b ]hW\V\T_wf \W{aXb%VbageTgbWbTVgbh b`\f\{a WXThgbe\WTWXfc|U_\VTf b WXcTeg\Vh_TeXf%dhX Xa Ybe`T TVghT_b \a`\aXagX _Xf\baX%eXfge\a]T%T_gXeXb T`XaTVX% Vba TeU\geTe\XWTWb \_XZT_\WTWTa\Y\XfgT%WXeXV[bf l ZTeTagyTfeXVbabV\WbfcbeXfgT:bafg\ghV\{a%ha geTgTWbb haT _Xl' <a X_VTfb%X_]hXmcbWewWXV_TeTe_T\aVbafg\ghV\baT_\WTWWX_Tabe`T Xa dhX fX YhaWXX_TVgbh b`\f\{a _Xf\iT'

GbWewa\agXecbaXeXfgT TVV\{a VbageTVhT_dh\XeYbe`T WXW\fVe\`\aTV\{a l Xa _beX_Tg\ibT _bf WXeXV[bfdhX cebgXZXaT_TÙ\XagX%T _TVb`cXgXaV\T%T_hfhTe\b l T_Vbafh`\Wbe%Tfy Vb`b T _bf WXeXV[bfWX\aV\WXaV\TVb_XVg\iTXa ZXaXeT_%X_TYXVgTWb%X_WXYXafbeWX_chXU_bl _TfTfbV\TV\baXf dhX cebcXaWTaT Xfbf Y\aXf%eXZ\fgeTWTfVbaYbe`XT _T_Xl%_TdhX WXgXe`\aTew_bf eXdh\f\gbf l Ybe`Tf WXfh beZTa\mTV\{a'

KbWTcXefbaT cbWew\agXecbaXeXfgT TVV\{acTeTgb`Te VbabV\`\Xagb WX_bf WTgbfT X__TeXYXe\Wbfl WXfh Y\aT_\WTW%dhX VbafgXaXa eXZ\fgebfb UTaVbf WXWTgbfc|U_\Vbf%b_bf ce\iTWbf WXfg\aTWbfT cebiXXe\aYbe`Xf%l Xa VTfb WXYT_fXWTWb W\fVe\`\aTV\{a%cTeTXk\Z\e_TfhceXf\{a% eXVg\Y\VTV\{a%VbaY\WXaV\T_\WTWbTVghT_\mTV\{aWXTdhX__bf%Eb cbWewTYXVgTefXX_fXVeXgbWX_Tf YhXagXfWX\aYbe`TV\{a cXe\bWyfg\VT%

:hTaWb X_WXeXV[b_Xf\baTWb%eXfge\aZ\Wb%T_gXeTWbb T`XaTmTWbYhXeT_T_\UXegTWYyf\VT%b Xa VTfb WXTZeTiT`\Xagb \_XZyg\`bXa _TYbe`T b VbaW\V\baXfWXWXgXaV\{a%bXa X_WXWXfTcTe\V\{a YbemTWTWXcXefbaTf% _TTVV\{a WX[TUXTf Vbechf cbWewfXe\agXechXfgTcbeX_TYXVgTWbb cbe VhT_dh\XeTXa fh YTibel X_]hXmeXfb_iXewWX\a`XW\TgbTha WheTagX_Ti\ZXaV\T WX_XfgTWbWXf\g\br%

.- 8WX`wf WX_Tf :bafg\ghV\baXf WXW\iXefbf <fgTWbf cebi\aV\T_Xf TeZXag\abfdhX \aghlXeba XfgT cXefcXVg\iT T cTeg\eb Vba cbfgXe\be\WTWT _TWxVTWTWX*21) &:[TVb% :[hUhg% CT GT`cT% 9hXabf 8\eXf%:\hWTW8hg{ab`T WX9hXabf 8\eXf%JTagT

...

16!66'6!'" "(a )!))))))

gfj`k`m`qXZ`•e \ogi\jX [\ gi\iif^Xk`mXj è[`m`[lXc\j t%k%k#*@*g$#t[%c cF@"

\c [\i\Z_f XgXikì[\ cX[fZkièX(cXali`jgil[\eZ`X l \c fi[ %.Uabe`Tg\ibgifmèZ`Xc+ %

( @cfYa\kf [\c [\i\Z_f [\ kf[fj cfj _XY`kXek\j\j \c XdY`\ek\ \ecfj k|idèfj i\^lcX[fj \e \c Xik`Zlcf 1. [\ cX>fejk`klZ`•e HXZ`feXc+

FX \o|^\j`j [\c d`jdf efj g\id`"i{àjkXYc\Z\i \c Zfek\e`[f hl\Zfii\jgfe[\ XcXgi\iif^Xk`mXXdY`\ekXc(g\ kd`k`\e[f \ccf cX[\k\idèX*Z`•e [\c fYa\kf [\ cfj \m\eklXc\j Zfe +Zk XdY`\ekXc\j \e Zl\eZXjèk\igifmèZ`Xc\j+

>fdf gi`d\i Xjg\Zkf X i\jXckXi( \c XdY`\ek\ Xchl\ j\ k`\e\[\i\Z_f ef `dgfikX le XdY`\ek\ gi}jkèf( gifg`f [\ leX efZ`•e \oki\dXhl\ [\jZfefqZX cXje\Z\j`[X[\j gif[lZk`mXj( >cXif \jk{ hl\ cXi\Xc`[X[XdY`\ekXc Xi^\ekèX \j dlp [`jkèkX X cX[\ \jX jl\ik\ [\ IWXEHSHIREXYVEPI\Ehl\ \eZfeki• cXZfcfe`qXZ`•e \jgX~fcX \e \c j`^cf QPD fèZcljf [\ Xhl\ccXhl\ j\ gi\j\ek• Xek\j [\c [\jXiifccf [\ cfj gl\Ycfj

++ + ..fe^...Xefj ( Jfi \c ZfekiXi`f( \c XdY`\ek\ Zfdf fYa\kf [\c [\i\Z_fZfejk`klZ`feXc`qX[f \j \c \ekfief Xekifg`qX[f !( [fe[\ j\ [\jXiifccXecXj uXZk`m`[X[\jgif[lZk`mXjw(

@e \jk\ ZfeZ\gkf( i\Zfi[Xdfj cXj [`jkèkXj efZ`fe\j hl\ _Xe[\]è`[f X[`Z_f XdY`\ek\( j\X \eld\iXe[f Xjg\Zkfj Xeki•g`Zfj [\ekif

[\ jlj Zfdgfe\eksj ,&-mèZlcXe[f Zfdf XdY`\ek\ Xcfj j`jk\dXj f\c\d\ekfj eXkliXc\&6" ZlckliXc\j.1(

:ehm%:bee\XagXf% EXhdhxa% :{eWbUT% JTa Ch\f% Iyb EXZeb%KhVh`wa% K\XeeTWX_=hXZb%=be`bfT% JTa AhTa%Ah]hl% CT I\b]T l JT_gT&%bgebf <fgTWbf `\XÙebf WXcTyfXf YXWXeT_Xf[Ta \aV_h\Wb X_ WXeXV[b T_ TÙ\XagX Xa fhf abe`Tf YhaWT`XagT_Xf #cbe X]X`c_b% Xa<fgTWbf" La\Wbf3 @__\ab\f%GXaf\_iTa\T% DTffTV[hffXgf% I[bWX @f_TaWl KXkTf$' <a X_WXeXV[b Vb`cTeTWb cbWX`bf eXYXe\eXa XfgX `\f`b fXag\Wb T _Tf :bafg\ghV\baXf WXGb_ba\T%PhZbf_Ti\T% GbeghZT_%<fcTzT% GbeghZT_%9eTf\_%:b_bÙ\T% :bfgT I\VT% :[\_X%<VhTWbe' Dxk\Vb% E\VTeTZhT% GTaT`w% GTeTZhTl% MXaXmhX_T%:beXT WX_Jhe%Khedh\T%XageX bgebf'

'% 9I8@CFMJBP% 8agba\b l =F>L<CD8E% ;\aT% @QY[ÛM bQ^PQ' ;U_`[ÛMQO[XqSUOMPQ XM4^SQZÙZM%JhWT`Xe\VTaT% 9hXabf 8\eXf% +))+% eXT_\mTaha Taw_\f\f WX_T geTafYbe`TV\{a WX_Xagbeab dhX ZXaXeTeba _bf chXU_bf ceX[\fcwa\Vbf% l _hXZb _TVb_ba\mTV\{a XhebcXT l X_ cbfgXe\be WXfTeeb__b aTV\baT_' <a fXag\Wb VbaVbeWTagX%9I8@CFMJBP% 8agba\b% ;U_`[ÛM QO[XqSUOMPQ <NQ^[MYnÛOM%:Tc\gT_ @agX_XVghT_%9hXabf8\eXf% +))/'

./ 8E;@EF% D{a\VT DTeVX_Tl G@EKF%DThe\V\b%o<_ WXeXV[b [h`Tab T_TÙ\XagXXa TeZXag\aT l fh eX_TV\{a Vba X_ f\fgX`T \agXeT`Xe\VTab WXWXeXV[bf [h`Tabfr% Xa<D9@; @ILAF%8agba\b #F\e$%8X PQ^QOT[ T aZ YQPU[ MYNUQZ`QMPQOaMP[%_hfgX_%DTWe\W%cwZ' -12' "

.0 :8EF% >h\__Xe`b% 7Q^QOT[%C[XoÙOM[ 4PYUZU_`^MOUqZ4YNUQZ`MXQ_%;XcT_`T%9hXabf 8\eXf% *201% cwZ' ++ '

! DFP8EF% 8ea\_VTe%4OOU[ZQ_ PQ \^Q_Q^bMOUqZ l PQ_M^^[XX[ PQX\M`ÛY[ZU[MYNUQZ`MX%<W\Te\h`% La\iXef\WTW WX DXaWbmT%*22)4 Q<98CCFJ ;< J@JKF% DTeyT

../

'#@" "gXG(H%*

FX`[\X [\ le a`_aV` " Xekifg`qX[f j\ Zfc`^\ Zfe cXi\]\i\eZ`XZfejk`klZ`feXc X jl Xgk`kl[ gXiX\c [\jXiifccf _ldXef( M\ kiXkX[\ leXdY`\ek\ hl\ j\ Zfe]fidX Xj}gXiX\c [\jXiifccf èk\îXc[\c _fdYi\ \ekf[Xj jlj [`d\ej`fe\j(! \e ZlXekf cXefZ`•e [\ [\jXiifccf _ldXef _Xjlg\iX[f X cXj [\ [\jXiifccf \Zfe•d`Zf f jfZ`Xc8\ `dgc`ZX Zi\Xi(gifdfm\i l [èXd`qXi Zfe[`Z`fe\j jfZ`Xc\j( \Zfe•d`ZXj( gfc}k`ZXj(ZlckliXc\j( XdY`\ekXc\jp ali}[`ZXjhl\ ]Xmfi\qZXecXZXgXZ`[X[[\ kf[Xj

cXjg\ijfeXj gXiXjl [\jXiifccf!

@jk\ [\jXiifccf *d{j hl\ \c jlj kiXkf eXkliXc* [\Y\ Xk\e[\ijljkXeZ`Xcd\ek\ Xc e[`m`[lf \e jl [`d\ej`•e _ldXeX( JXkX_XYcXi[\[\jXiifccf _ldXef \j e\Z\jXi`f Zfek\dgcXicf \e jlj ]XZ\kXj\Zfe•d`ZX(jfZ`Xc(ZlckliXcl \Zfc•^`ZX( cXj ZlXc\j [\Y\e XZklXi[\ Zfejlef gXiX\m`kXi[`jkfij`fe\j hl\ ZfeZclpXe gfi X]\ZkXicXjXkf[Xj \ccXj(>lXchl`\iX&cl\]l\j\e cfj [`Xê•jk`Zfj hl\ ]le[Xd\ekXe cXjgifgl\jkXj [\ gfc}k`ZXj\Zfe•d`ZXj \e gif [\ cXjljk\ekXY`c`[X[ jfZ`f*XdY`ZekXc[\ [\jXiifccf([\Y\e fgkXigfi \c [\jXiifccf _ldXef jfjk\e`Yc\8 kf[f gcXe[\ [\jXiifccfhl\ ef Zfd`\eZ\ gfi gfe\i \e \c Z\ekif [\ jl gi\fZlgXZ`•e Xcj\i_ldXef p cXgfj`Y`c`[X[ [\ jl [\jXiifccf èk\îXc( ZXi\Z\ [\ dXpfi]le[Xd\ekf+ Hf j\ gl\[\ `êfiXi cX}ek`dX i\cXZ`•e \o`jk\ek\ \eki\[\jXiifccf( ZXc`[X[[\ m`[Xl d\[`f XdY`\ek\ .4+

?\ X_}hl\ \c XdY`\ek\( gfi j} d`jdf( ef \j \c fYa\kf [\ gifk\Z*Z`•e( jèf \e ]leZ`•e [\c [\jXiifccf _ldXef d\[`Xek\ \c Xgifm\Z_X*d`\ekf jfZ`Xc(ZlckliXcl gif[lZk`mf [\ cfj \c\d\ekfj eXkliXc\j( Jfi\ccf( j` Y`\e \jkX Xgk`kl[ [\c XdY`\ek\ Zfejk`klZ`feXc`qX[f kXdY`|eèZclp\ Xc[\jXiifccf \Zfe•d`Zf( ef \j j•cf |jk\ \c fYa\k`mf hl\ \cZfejk`klp\ek\ klmf \e m`jkX(jèf hl\ \j \c _fdYi\ \c fYa\kf gièZ`gXc[\ cXgifk\ZZ`•e @I%M Y`\e i\jlckX X_fiX è[`jg\ejXYc\ i\Zfi[Xi hl\ \c_fdYi\ \j gXik\ èk\îXek\ [\ le \Zfj`jk\dX( hl\ ef \jk{ ]l\iX e` gfi

:e\fg\aT% ;bf PnOMPM_PQ XQSU_XMOUqZMYNUQZ`MXQZ XM4^SQZÙZM%8Q <W\gbeXf%9hXabf

8\eXf% *22-% cwZ' k\k.2 HL@IF>8 C8M@u%?hÙXegb% oCT cebgXVV\{a WX_TÙ\XagX Xa _TeXYbe`T WX_T

:bafg\ghV\{a ETV\baT_r% CT CXl%*1 WX`Temb WX*22/% cwZ' *4 P o<_ XfgTWb XVb_{Z\Vb WXWXeXV[b Xa _T :bafg\ghV\{a ETV\baT_r% CT CXl% */ WXTUe\_WX *22/% cwZ'*

.3 ?FEFI89C< J<E8;F ;< C8 E8:\vE% GebZeT`T 8eZXag\ab WX;XfTeeb__b?h`Tab% <ZR[^YQ 4^SQZÙZ[ _[N^Q 7Q_M^^[XX[ ;aYMZ[ *22.% *22.% cwZ%*)/

(4 9<I><C% JT_iTWbe ;Teyb% o;XfTeeb__b fhfgXagTU_X l `XW\b TÙ\XagX3 _TcXefcXVg\iT _Tg\abT`Xe\VTaTr% DQbU_`MPQX7Q^QOT[ <ZPa_`ÛMX%9hXabf 8\eXf% aF -*%DTlb &8Zbfgb *22+% cwZ',+*

.5 HL@IF>8 C8M@u%?hÙXegb% oCT cebgXVV\{a WX_TÙ\XagX Xa _TeXYbe`T WX_T:bafg\ghV\{a ETV\baT_r% bU V\g4l o<_ XfgTWb XVb_{Z\Vb WXWXeXV[b Xa _T :bafg\ghV\{aETVybaT_r%bU V\g%cwZ'*

..0

.U ,t . ))'!) \ ... )!))))))

\eZ`dX jèf [\ekif [\ |c !( l ktO&8j` Y` %. cXeXkliXc\qX ++ODc ia_be v._fdYi\ [\Y\ i\jg\kX[X p Xpl[XicX(\c j\i _ldXef ef T] %.%D+G#$@"%..ejlZ\ekiXc`[X[+ Nf[X Zfdle`[X[ Y`•k`ZXi\jlckX mXc`fjX(g\if \e cXZ`dX[\ +\jkXZfdle`[X[ j\ _XccXgi\Z`jXd\ek\ \c _fdYi\+7!

J\if X jl m\q( \j\ XdY`\ek\ [\jXiifccX[f _ldXeXd\ek\ j\\eZl\ekiX Zfe[`Z`feX[f Xle îX[f [\ èk\im\eZ`•e hl\ ef cf Xck\i\ [\df[f kXchl\ g`\i[X jl ZlXc`[X[ [\ jXef p \hl`c`YiX[f( ZlXc`[X[\j hl\èii}ej`ZXie\ek\ ef [\aXe [\ _ldXe`qXek\j [\c \ekfief eXkliXc!+

@jkf €ck`df( [\efkX le dXiZf [\ jljk\ekXY`c`[X[ \e cXjXZk`m`[X*[\j Xeki•g`ZXj X\]\Zkf [\ hl\ ef Zfdgifd\kX kXc\jZXiXZk\i\j ef j•cf\e Zfej`[\iXZ`•e Xcfj XZklXc\j_XY`kXs\M&jèf kXdY`|e \e i\cXZ`•e Xcfj gfk\eZ`Xc\j f ]lklifj+ FX efidX Z ejgklZ`feXc \j \ogi\jX \e \jk\j\ek`[f( X[fgkXe[f \c gièZ`g`f [\c [\j(ikfccf [liX[\if: Xc\jkXYc\Z\ihl\ \c XdY`\ek\ Zfdf fYa\kf [\ cXgi\iif^Xk`mX klk\cX[X [\Y\ j\i XgkfugXiXhl\ cXjXZk`m`[X[\j gif[lZk`mXj jXk`j]X^XecXje\Z\j`[X[\j gi\j\e*k\j jè Zfdgifd\k\i cXj [\ cXj /7\e\iXZ`fe\j ]lkliXjw+

>

@jkXg\ijg\Zk`mX _ldXe`jkX _X cc\mX[f Xjfjk\e\i kcl\ \c [\i\Z_f_ldXef XcXdY`\ek\ Zfek\dgcX[f \e cX>fejk`klZ`•e Xi^\ekèX `dgfikX\c [\i\Z_f [\ ljXi l ^fqXi [\ cfj Y`\e\j XdY`\ekXc\j( Xlehl\ \jkfjY`\e\j jfe ali`[`ZXd\ekZ dk\cX[fj \e ZlXekf i\hl`\i\e ZlXc`[X[\j

!%+6:8EF% >h\__Xe`b% b_\g\VT8Ù\XagT_ p WX_bf IXVhefbf ETgheT_Xfr% IXi\fgT8Ù\XagX l IXVhefbf ETghe _Xf' ib__ % a)+%8Ue\_&Aha\b *21.% cwZ'**)' KTÙ\xa fX [TXkceXfTWb Xa XfgX fXag\Wb _T8J8D9C<8 ><E<I8C ;< C8J E8:@FE<J LE@;8J VhTaWbXa *21+ \aW\V{ Xa _T :TegT haW\T_WX_T ETgheT_XmTdhX 5WTXfcXV\X [h`TaT Xf cTegXWX _T aTgheT_XmTl _T i\WT WXcXaWXWX_YhaV\baT`\Xagb \a\agXeeh`c\Wb WX _bf f\fgX`TfaTgheT_Xf dhX "fba YhXagXf WXXaXeZyT l WX `TgXe\Tf ahge\g\iTfr

/- D8;;8C<E8% GTb_b%oCT geTafYbe`TV\{a WX_;XeXV[b T _T _hmWX_cebU_X`TTÙ\XagT_3 TfcXVgbf ZXaXeT_Xfr% IXiyfgT WX_;XeXV[b @aWhfge\T_%aF -*% DTlb&8Zbfgb*22+% cwZ',.*' <fgb Xf eXVbabV\WbXa _T;XV_TeTV\{a WXI\b fbUeX X_DXW\b 8Ù\XagX pX_;XfTeeb__b Xa *22+% VhTaWb X_Ge\aV\c\b * \aW\VTdhX oCbf fXeXf [h`Tabf Vbafg\ghlXaX_ VXageb WX _Tf ceXbVhcTV\baXf eX_TV\baTWTf Vba X_ WXfTeeb__b fbfgXa\U_X' K\XaXaWXeXV[b T haT i\WT fT_hWTU_Xp cebWhVg\iT Xa Te`bayT Vba _T aTgheT_XmTr'

/. 9TfgT iXe Xa XfgX fXag\Wb _b XkceXfTWb Xa _T :FEM<E:\vE E8:@FE8C:FEJK@KLP<EK<% ;\Te\b WXJXf\baXf% *,p IXha\{a% ,p JXf\{a FeW\aTe\T%+) WX]h_\b WX*22-% cwZ' */)1% WbaWX_T :baiXaV\baT_ IFLC<K% T_YhaWTeX_ WXfcTV[b `Tlbe\gTe\b%bUfXei{ _T VhT_\WTWWX ofTabr i\aVh_waWb_T ab fb_b T _T ceXfXeiTV\{a WX _bf U\XaXfTÙ\XagT_Xf WX_bf dhX WXcXaWXX_[bÙeX% f\ab gTÙ\xa T gbWbf _bf wÙ\gbf Vbafgeh\Wbfcbe X_[bÙeX3 ofTab f\Za\Y\VT haT V\hWTWVba V_bTVTf% Vba TZhT Vbee\XagX%Vbageb_WX_eh\Wb l WX _Tf X`TaTV\baXf% p Vba XfcTV\bf iXeWXf fhY\V\XagXf Xa eX_TV\{a T_ XfcTV\{Vbafgeh\Wb%''' i\i\XaWT TWXVhTWT''' %wÙ\gb&WX geTUT]b TWXVhTWb''' %XfVhX_Tf ''' r% XgV'<a eX_TV\{a T Xdh\_\UeTWbfbfghib dhX oab Xf haT abV\{a dhX fX eXY\XeXT _bf Xdh\_\Ue\bfaTgheT_Xf WX_TÙ\XagX \agTaZ\U_X%TdhX_ WbaWXX_[bÙeX ab [T gXa\Wba\aZhaT TVg\i\WTW'J\Za\Y\VT X_Xdh\_\Ue\b WX _bf TÙ\XagXf geTafYbe`TWbf cbe X_ [bÙeX ''' r

// M8CCJ% DTe\b ='% oGe\`XeTf eXY_Xk\baXf fbUeX _T V_whfh_T TÙ\XagT_ WX _T:bafg\ghV\{ar% 8X 7Q^QOT[%+-()1(*22-% chagb M

..1

(6# @#%,%,.%.&.+(.

`df jXef l Zhl`c`_ie De+l ZZej`^l`ZeZZdZeiZ( \c [\i\Z_f [\ ljf l^ \%\j XZfdgX~X[f e g\c [\Y\i [\ gifk\ZZ`•e Zfdf leX ZXi^Xg€Yc`ZX

\e ZXY\qX[\ kf[fj cfj è[`m`[lfj!+

U @j \ekfeZ\j hl\ kXcXdY`\ek\ *[fe[\ cfj mXcfi\j eXkliXc\j(Zsj( jfZ`Xc\j( \Zfe•d`Zfj( \kZ+(j\ Zfdgc\d\ekXe \e seZ`•e+ [\cXèk\îXc`[X[ _ldXeX*( ef j•cf `dgfikX le [\i\Z_f Xcd`jdf jèfkXdY`|e le [\Y\i \e jl gi\j\imXZ`•e+ R Zfej\Zl\ek\d\ek\ Zfe \jkXfYc`^XZ`•e \c [X~f XdY`\ekXc j\^€e \c k\okf Zfejk`klZ`feXc ^\e\iX cXfYc`^XZ`•e gi`fi`kXi`X [\ i\Zfdgfe\i( [\ mfcm\i cXj ZfjXj XcWXEXYWUYSERXI$Xjg\Zkf hl\ _X j`[f [\jXiifccX[f efiieXk`mXd\ek\ X kiXm|j [\ cXF\p /2+342( i\^lc{e[fj\ leX XZZ`•e [\ i\Zfdgfj`Z`•e XdY`\ekXc hl\k`\e[\ X \eZXlqXi cfj gifZ\jfj al[`Z`Xc\j Zcl\ è`Z`\e cfj X]\ZkX[fj fcXj Xlkfi`[X[\j g€Yc`ZXjZfe kXcfYa\kf+

< cfj \]\Zkfj [\ Zfe]fidXi l gifm\\i kXcXdY`\ek\( cX>fejk`klZ`•e`dgfe\ leX ]leZ`•e g€Yc`ZX\jg\Z}]`ZX X cXj Xlkfi`[X[\j( cXj hl\ \ejlj ]leZ`fe\j [\ @jkX[f *X[dè`jkiXk`mXj( c\^`jcXk`mXjf al[`Z`Xc\j*[\Y\e gif[lZì cfj d\[`fj Zfe[lZ\ek\j XcXgifk\ZZ`•e [\ \jk\ [\i\Z_f(XcXlk`c`qXZ`•e iXZ`feXc[\ cfj i\Zlijfj eXkliXc\j( XcXgi\j\imXZ`•e [\cgXki`dfe`f eXkliXcp ZlckliXcp [\ cX[`m\ij`[X[ Y`fc•^`ZX p XcX e]fidX*Z`•e p \[lZXZ`•e XdY`\ekXc\j+ J\if X[\d{j( c\^`k`dX Xcfj gXik`ZlcXi\jX]\ZkX[fj X g\ij\^lì al[`Z`Xcd\ek\ cXjXcmX^lXi[X[\ jl [\i\Z_f XcXdY`\ek\( j\X XkiXm|j [\ cXXZZ`•e [\ XdgXif XdY`\ekXc( f j\X XkiXm|j[\ cXi\Zfdgfj`Z`•e XdY`\ekXc+

" $536-9-4+0) 6)7) 7-852;-7 +54.20+958)3*0-49)2-8 85*7-7=58049-7675;04+0)2-8-4 #7/-4904)

) %2,-8204,- ,- +536-9-4+0) 85*7- )/:)8 -4 -2 8089-3).-,-7)2 )7/-49045

>fdf _\dfj m`jkf( cXj Xlkfi`[X[\j g€Yc`ZXj gi\j\ekXe leXfYc`^XZ`•e ^\e\iXc [\ gifm\\i cXgifk\ZZ`•e [\c [\i\Z_f Xle XdY`\ek\jXcl[XYc\ l \hl`c`YiX[f( Xjg\Zkf hl\ [\Y\ j\i XeXc`qX[f X cXclq [\ci|^`d\e ]\[\iXc [\ cXi\g€Yc`ZX <i^\ekèX+

'''''

@j hl\ cXeXkliXc\qX]\[\iXc [\c @jkX[f Xi^\ekèf &Xik+* XE$%\eZfekiXgfj`Z`•e Zfe df[\cfj le`kXi`fj hl\ ZfeZ\ekiXe \c gf[\i \e le€e`Zf ^fY`\ief Z\ekiXc( dgc`ZXcX\o`jk\eZ`X [\ [fj •i[\e\j [\ ^fY`\ic]f

/0 :8J89<E< ;< CLE8% JTaWeT%o8Ù\XagX l WXfTeeb__b"Xa _T :bafg\ghV\{aETV\baT_ WX *22-r% DQbU_`MPQ 7Q^QOT[ 4YNUQZ`MX%CXk\f EXk\f% 9hXabf 8\eXf% ap -%bVghUeX&W\V\XÙeX+)).% cwZ' *,0

..2

=L<D,D,%,>%,I ,*''')")

jfYi\ \c d`jdf k\ii`kfi`f( ZX[Xlef &.U MU+D#@$*" +jkX[%MW\f__"\Uh\WT

Zfejk`klZ`feXcd\ek\+

@cgi\jlgl\jkf _`jk•i`Zf [\ Zfej`[\iXi X cXjJifmèZ`Xj >IDN.-\ek`[X[\j gfc}k`ZXjXek\i`fi\j XcXHXZ`•e( j`\e[f \jkX€ck`dXZfejk`kl`[Xgf+k+7mfclekX[ [\c gl\Ycf hl\ _XY`kXYXcXjJifmèZ`Xj( `dgfikXi{ hl\ \c@jkX[f HXZ`feXc [\k\ek\ €e`ZXd\ek\ Xhl\ccfj gf[\i\j hl\ c\ j\Xe[\c\^X[fj \ogi\jXd\sgfi cXjJifmèZ`Xj(hl\[Xe[f i\j\imX[f \c i\jkf\e \jkX7ccck`seXj8(\jk\ \j ...[\ [\ gf[\i\j \j dXe`]`\jkXd\ek\ i\^lcX[f\e cX>fejk`klZ`•e [\ 520( ZfekèlXe[f cXefidX \e \c Xik}Zlcf ./.[\ cX>fejk`klZ`•e HXZ`feXc[\ .661+

< gXikì [\ \jkX YXj\( cX>fejk`klZ`•e HXZ`feXc[\c\^Xi{ Z`\ikXjXki`YlZ`fe\j \e cfj •i^Xefj [\c ^fY`\ief ]\[\iXc( m\[Xe[f X cXjslkfi`[X[\j cfZXc\j\c \a\iZ`Z`f [\ kXc\jgf[\i\j &Xik+./3 >H'( hl\[Xe[fèjkXliX[X *Zfdf \ogi\jX =D?<LN ><GJIM/1W( cXZfdYèXZ`•e [\leX ]l\iqX Z\eki}]l^X hl\ [\jZ\ekiXc`qX \c gf[\i _XZ`Xcfj @jkX[fjgifmèZ`Xc\j alekf X leX ]l\iqX Z\eki}g\kX hl\ gif[lZ\ cXle`•e [\mXi`fj @jkX[fj Xlk•efdfj \e le @jkX[f ]\[\iXc+

FXj Xki`YlZ`fe\j eXZ`feXc\j jfe \jkXYc\Z`[Xj[\ dXe\iX \ogi\jX\e cX>fejk`klZ`•e( j`\e[f kf[X fkiX gfk\jkX[ le i\dXe\ek\ hl\g\idXe\Z\ \e cXjgifmèZ`Xj8cXi\^cX \j cXZfdg\k\eZ`X gifmèZ`Xc(l cX

\oZ\gZ`•e \j cX]X+>OckX[;eXZ`feXchl\ j\X Zogi\jfd\ek\ [\c\^X[X \e \ck\okf Zfejk`klZ`feXc+

@e ZfeZi\kf( p UèZlcX[f X cX^\jk`•e _}[i`ZX(cX>fejk`klZ`•eHXZ`feXc \e jl Xik}Zlf 42 [`jgfe\ hl\ Zfii\jgfe[\ Xc>feî\jfHXZ`fes. ui\^cXd\ekXi cXc`Yi\eXm\^XZ`•e[\ cfj i}fj èk\i`fi\j( _XY`c`kXicfj gl\ikfj hl\ Zfej`[\i\ Zfem\e`\ek\jw &èZ+.-,2( ui\^cXi \c Zfd\iZ`fZfe cXjeXZ`fe\j \okiXea\iXj( l [\ cXjgifmèZ`Xj \eki\ j}w&èZ+.0' *cfhl\ èZclp\ \c Zfd\iZ`f ]clm`Xc*([`ZkXicfj >•[`^fj >`m`cl J\eXc &èZ+./,r(+ @e \c dXiZf [\ cfj Xik}Zlcfj/4( 42 èZ+// l /1 R 66 èZ+.. >H(

/v%9@;8IK :8DGFJ% >Xe`wa A'%6[Y\QZPU[ Q=Q7Q^QOT[ 6[Z_ÙàOU[ZMX <W\Te9hXabf 8\eXf%+))-% cwZ' -2 " %( (/2 <_ TegyVh_b%+/VbaVbeWTagX`XagXW\fcbaX dhX oCT aTiXZTV\{a WX_bf eybf\agXe\beXfWX_TETV\{a Xf _\UeXcTeTgbWTf_Tf UTaWXeTf%Vba fh]XV\{a |a\VT`XagX T _bfeXZ_T`Xagbf dhX W\VgX_TThgbe\WTWaTV\baT_r

/- <a X]XeV\V\bWXXfgTf Tge\UhV\baXf_Tf abe`Tf V\i\_Xf [Ta \aV_h\WbTfcXVgbffbUeX cebc\XWTWWX_Tf TZhTf #\aV_hfb%Xa ha XkVXfb abe`Tg\ib%TfcXVgbf dhX XkVXWXa_T `TgXe\T V\i\_$%fXei\WhÙeXf V\i\_Xf p eX_TV\baXfWXiXV\aWTWVba `bg\ib WX_TfTZhTf4 l _Tf cXaT_Xf eXZh_TaW\iXefbf WX_\gbf&hfhecTV\{a% TWh_gXeTV\{a%XgV&dhXVbaf\WXeTaX_TZhT Xa fh g\c\Y\VTV\{a

..3

Zfii\jgfe[\ iXe Y`|e Xcgf[\i ]\[\iXc \c dXek\e`d`\ekf [\ cXji\cXZ`fe\j[\ gXqe Zfd\iZ`f Zfe cXjgfk\eZ`Xj \okiXea\iXj gfi d\[`f [\ kiXkX[fj(cf hlsfecc\mX cXji\cXZ`fe\j Zfe i\jg\Zkf XX^lXj èk\ieXZ`feXc\j( jèg\ial]Z`f [\ cX]XZlckX[gifmèZ`Xchl\ \e cXdXk\i`Xi\j^lXi[X \c Xik}Zlcf./1 BU\cXd`jdX ZXikX+AèXcd\ek\( \c Xik}Zlcf 1. c\ ZfeZ\[\ X cXXlkfi`[X[ eXZ`feXccXgfk\jkX[ [\ [`ZkXicXjefidXj [\ gi\jlgl\jkfjd}e`dfj [\ gifk\ZZ`•e XdY`\ekXc(jè hl\ \jkXj efidXj Xck\i\e cXjali`j[`ZZ`fe\j cfZXc\j([\Y`\e[f cXjgifmèZ`Xj [`ZkXicXje\Z\jXi`Xj gXiXZfdgc\d\e kXicXj+

Jfi fkiX gXik\( \e cf hl\ i\]`\i\ XcX[`jki`YlZ`•e [\ gfk\jkX[\jal[`Z`Xc\j( \c Xik}Zlcf..3 [\c i\]\i`[f k\okf Zfejk`klZ`feXc [`jgfe\ hl\u>fii\jgfe[\ XcX>fik\ Mlgi\dX l X cfj ki`YleXc\j è]\i`fi\j [\ cXHXZ`•e( \c ZfefZ`d`\ekf e [\Z`j`•e [\ T!+VcXjZXljXj [\ XcdìXekXq^fl ali`j[`ZZ`•e dXi}k`dX((+w/4(

<c dXi^\e [\ \j\ j`jk\dX [\ gf[\i\j \ogi\jXd\ek\ [\c\^X[fj \e\c @jkX[f HXZ`feXcl ^\e|i`ZXd\ek\ i\j\imX[fj \e cXjgifmèZ`Xj hl\]àX\c Xik}Zlcf./. [\ cX>XikXGXêX(cXd`jdX >fejk`klZ`•e j\ \eZXi^X[\ i\jXckXiZ`\ikXjgfk\jkX[\j hl\ Zfii\jgfe[\e Xc{dY`kf gifmèZ`Xc+<j}( l Zf_\i\ek\d\ek\ Zfe cXXlkfefd}X [\ cfj @jkX[fj gifmèZ`Xc\j(Zfii\jgfe[\ Xcfj d`jdfj [Xij\ jl gifg`X fi^Xe`qXZ`•e Zfejk`klZ`feXc&Xik+2 p ./0 >H'( p \jkXYc\Z\i jlj gifg`Xj èjk`klZ`fe\j p \c\^ì jlj]leZ`feXi`fj jè èk\im\eZ`•e [\c ^fY`\ief ]\[\iXc &Xik(.// >H'+ >fdf@jkX[fj gi\\o`jk\ek\j( \e kf[f Xjg\Zkf hl\ ef j\X \ogi\jXd\ek\[\c\^X[f \e \c fi[\e ]\[\iXc dXek`\e\e iXj^fj [\ jfY\iXe}X( l gfi \ccfgl\[\e jè Xlkfi`qXZ`•e [\c ^fY`\ief ]\[\iXc i\Xc`qXikXekf kiXkX[fjZfdf jla\kf [\ [\i\Z_f èk\ieXZ`feXc f èk\i\jkX[lXc( Zfdf èZcljf^\e\iXi el\mXj \jkilZkliXj ]\[\iXk`mXj hl\ ef i\jlck\e èZfdgXk`Yc\jZfe \c @jkX[f ]\[\iXc Zfe]fidX[f &Xik+./1 l ./2 >H'(

@jkX€ck`dX gi\m`j`•e Zfejk`klZ`feXc( \j\eZ`Xc gXiX\c k\dX hl\XYfi[Xdfj( ef `dgfikX leX [\jd\dYiXZ`•e [\ cXle`•e ]\[\iXk`mXhl\ZfejXîX cX>fejk`klZ`•e HXZ`feXc8cfj @jkX[fj gifmèZ`Xc\j gl\[\eXZklXiXlk•efdXd\ek\ \e cfj Xjg\Zkfj ef [\c\^X[fj( Z\c\YiXe[f

/4 <_exZ\`Xa Vbafg\ghV\baT_%XfgTU_XVXTWX`wf _T]he\fW\VV\{aWX_T]hfg\V\TYXWXeT_cTeT X_VbabV\`\Xagb &XageXbgebf VTfbf& WX_bf Tfhagbf Xa dhX _TETV\{a fXT cTegX4WX_Tf VThfTf dhX fX fhfV\gXa XageXWbf b `wf cebi\aV\Tf4 XageXhaT cebi\aV\T l _bfiXV\abf WXbgeT4XageX_bf iXV\abf WXW\YXeXagXfcebi\aV\Tf #Teg'**/ :E$%Y\]TaWbXa X_Teg\Vh_b**0 :E _bf VTfbf Xa dhX _TVb`cXgXaV\T Xf be\Z\aTe\TWX_T:begX JhceX`T WX_TETV\{a' <fgbf ceXVXcgbfY\]Tewa_TTVghTV\{aWX_T]hfg\V\T YXWXeT_Xa VTfbf Xa dhXXk\fgT haT TYXVV\{aTÙ\XagT_\agXe]he\fW\VV\baT_'

..4

$@

s'kiXkX[fj \eki\ \ccfj \e kXcdXi f( J "@"#$De XckX[\ X C@"*! cf ef 8ntc`]` XleX Zfe]ifekXZ`•e ]{Zk`ZX\eki\ cfj d`jdfj jèf hl\ jlj [`]\i\eZ`Xj[\Y\e j\i jfd\k`[Xj XcXali`j[`ZZ`•e [ì`d\ek\ [\ cX>fik\ [\ Eljk`Z`X]\[\iXc( gl[`\e[f \c BfY`\ief ]\[\iXc `dg\[ì l i\gi`dì cfj _\Z_fj [\m`fc\eZ`X hl\ j\ gi\j\ek\e \e cXji\cXZ`fe\j èk\igifmèZ`Xc\j &Xik+./4>H'+

*L X&QVMGXS!******

Oe Xjg\Zkf d{j hl\ Zfe]`^liX \jk\ i|^`d\e( \j \c [fdè`ffi`^èXi`f [\ cfj i\Zlijfj eXkliXc\j \e ZXY\qX[\ cXj gifmèZ`Xj -/1>H'( .- hl\ i\]l\iqX cXèk\igi\kXZ`•e i\jki`Zk`mX[\ cXj Zfdg\k\eZ`Xj[\c\^X[Xj \e ]leZ`•e [\ cXj ]XZlckX[\j [fdè`Xc\j(

@e YXj\ Xcfj ZfeZ\gkfj [\jXiifccX[fj \e cfj g{iiX]fj gi\Z\[\ek\j(gf[\dfj X]ìdXi hl\ cXjX^lXj hl\ YX~Xed{j [\ le k\ii`kfi`f gifmè*Z`Xc(\e ZlXekf ef \o`jk\ [\c\^XZ`•e Zfejk`klZ`feXc( ef gl\[\e j\ii\^lcX[Xj e` X[dè`jkiX[Xj gfi cX Xlkfi`[X[ eXZ`feXc( e` |jkX [\Y\èk\im\eì e\Z\jXi`Xd\ek\ \e cXZfe]fidXZ`•e èjk`klZ`feXc l [\j`êX*Z`•e [\ kXcX[dè`jkiXZ`•e &Xik+.// >H'8 cXjgifmèZ`Xj Zfej\imXe \jkfjgf[\i\j ef [\c\^X[fj( ZfeZfi[Xek\j Zfe cXjXki`YlZ`fe\j gifg`Xj [\ jl[fdè`f _}[i`Zf( \jkXe[f gi\m`jkf \e cfj Xikj+ ./1 l ./2 >H \cd\ZXe`jdf Zfem\eZ`feXc gXiX[\jXiifccXi cXjXZZ`fe\j l X[dè`jkiXZ`•eZfd€e hl\ i\jlck\e e\Z\jXi`Xj( \e cXd\[`[X [\ hl\ cXZfdle`[X[ [\èk\i\j\j hl\ \ccXj gi\j\ekXe cf `dgfe^X+

@jkf ef `dgc`ZX hl\( \e cfj ZXjfj \e hl\ \c èk\i|j Zfd€e ef\oàXcXZfe]fidXZ`•e [\ leX ls,[X[ Zfd€e [\ X[dè`jkiXZ`•e XkiXm|j[\ le fi^Xe`jdf èk\igifmèZq .( cXle`[X[ [\ Zl\eZX i\jlck\ \okiX~X XcX \jk`•e[\cfj i}fj èk\igifm` Z`Xc\j+FX ^\jk`•e cfZXcjfYi\ cfj d`jdfj(\e Zl{ekf j\ i`^\e gfi \c [\i\Z_f èk\i\jkX[lXc!( [\Y\ i\jg\kXi cfjgièZ`g`fj hl\ `dgfe\ kXci|^`d\e+! X gXikì [\c ljf \hl`kXk`mf l

/3 :8EF% >h\__Xe`b%o8c_\VTU\_\WTWWX_bf ce\aV\c\bf WX_WXeXV[b\agXeaTV\baT_T_Tf eX_TV\baXf\agXecebi\aV\T_XfXa8eZXag\aTr%?M?Qe%KF*21-&:% cwZ' **+24 DFP8EF%8`\_VTe oKeTgTWbffbUeX _bf eXVhefbf [yWe\VbfVb`cTeg\Wbf Xa 8eZXag\aT'8 cebc{f\gbWX_Iyb :b_beTWbr%Xa CTCXl%G *221&8%cwZ' *)/+' :FIK< J__GI<D8 ;< ALJK@:@8;<C8 E8:\vE% =T__bf*//,.1% ,*)3+-02 l ,+,3*100

/6 CTVb`c_X`XagTe\XWTWXageXX_}XeXV[b \agXeaTV\baT_l '3__cebc\b dhX e\ZX_TfeX_TV\baXf \ageTYXWXeT_XfXageX<fgTWbf YXWXeTWbf[T f\Wb bUfXeiTWT ab f{_bWbVd`wg\VT`XagX% f\ab XfcXV\T_`XagXeXVXcgTWTXa _T]he\fcehWXaV\TfbUeX _T TgXe\T'8_ eXfcXVgb%_T :begX :bafg\ghV\baT_ T_X`TaT #E`MM`_SQÛOT`_T[R$Xa X_ TfhagbIlX``QYNQ^S MZPCâ_UMi' 0MPQZ#FTQ7[ZMabQ^_UZWaZS:TfX$% fXagXaV\TWX_*1 WX]ha\b WX*2+0%chU_\VTWbXa 4ZZaMX7USQ_bYCaNXUO<Z`Q^ZMÙ[ZMX?Mc :TfXf *2+0&+1%VTfX ap1/%JXe\X@agXeaTg\baT_C:RjIXcbegf%Mb_h`X -%8eab_W;' DVET\e#XW'$%:TÙe\WZXLa\iXef\gl GeXff%*2,+% cwZf' *+1 T *,+% Vbaf\WXe{Xa cwZ' *,) dhX Xa _Tf eX_TV\baXfWX_bf <fgTWbf YXWXeTWbfUZ`QfX WXUXTc_\VTefXX_;XeXV[b \agXeaTV\baT_%cbe VhTagb%

..5

sU

iXqfeXYc\( \c ef g\ial`Z`f j\ej`Yc\( l cXjfYc`^XZ`fe\j [\ Zffg\iXZ`•e(ZfejlckX \ è]fidXZ`•e( l \e gXik`ZlcXi(cXfYc`^XZ`•e [\ gi\j\imXi \ci\Zlijf _}[i`Zf ZfdgXik`[f!+

Jfi \ccf( ef j•cf j\ gi\j\ekXe [`jkèkXj k`gfcf^}Xj [\ XZl\i[fjèk\igifmèZ`Xc\j *Zfe]fid\ \c îX[f [\ èk\îXZ`•e hl\ j\ gif[lqZX\e cX \jk`•e [\c i\Zlijf*( jèf hl\ X[\d{j èZcljf \e Z`\ikXj fZXj`X+e\je` j`hl`\iX j\ gif[lZ\e XZl\i[fj ]fidXc\j( YXjkXe[f cXd\iX Zffi[èX*Z`•e X[dè`jkiXk`mX \ogi\jX( f `dgc}Z`kX X kiXm|j [\c i\jg\kf X cXjgi{Zk`ZXj Zfejl\kl[èXi`Xj hl\ mèZlcXe X cfj @jkX[fj \e Zl\jk`•e(

Ffj fi^Xe`jdfj [\ Zl\eZX( \e \jk\ \eZlX[i\ efidXk`mf( efi\jlckXe [\ \o`jk\eZ`X e\Z\jXi`X+ M•cf \e Xhl\ccfj ZXjfj \e hl\ j\ ^\e\i\le èk\i|j jl]`Z`\ek\ \e cXZfe]fidXZ`•e \e YXj\ X cXZl\eZX [\ leXX[dè`jkiXZ`•e Zfd€e gXiX Z`\ikfj Xjg\Zkfj [\ ^\jk`•e( cfj @jkX[fjgifmèZ`Xc\j _TSHVdR GVIEVVIKMSRI7TEVE IP HIWEVVSPPSIGSRdQMGE[WSGMEP[IWXEFPIGIVhVKERS7GSRBEGYPXEHIWTEVE IP GYQTPMQMIRXSHI 7@> RUZQ_j&Xik+./1\H'+ l ZlXe[f ef j\ ^\e\iXe \jkfj •i^Xefj( cXj Xlkfi`[X[\j [\ ZX[XgifmèZ`X [\Y\e i\^lcXi l ^\jk`feXi cXj X^lXj hl\ [`jZlii\e \e jlk\ii`kfi`f Xk\e[`\e[f \c ljf \hl`kXk`mf l iXqfeXYc\ \e kf[X cXZl\eZX(gl[`\e[f ^\e\iXi {dY`kfj \jkXYc\j [\ Zffi[èXZ`•e gfc}k`ZX!+

ThadhX fh]Xgbf T Vbaf\WXeTU_Xf_\`\gTV\baXf%fX geTgTWXeX_TV\banfnageX<fgnWbn' <afXag\WbVbaVbeWTagX%_TJhceX`T :begX abegXT`Xe\VTaTTWbcgb \Wxag\Vb Ve\gXe\bXa>MZ_M_i' 6[X[^MP[ #*2)+$%*1. LJ *+.4 >MZ_M_i' 6[X[^MP[ #*2)0$%+)/ LJ -/46[ZZQOÙOai' @M__MOTa__Q`_#*2,*$%+1+ LJ //)4 XageXbgebf' CTJhceX`T :begX WXJh\mT Xa X_Tfhagb KcUXXUW[Z7MY :TfX% fXagXaV\TWX_*+ WXXaXebWX*101%8Z`_OT'PQ_EOcQUfQÛ_OTQZ0aZPQ_SQÛOR=`_#*101$%ib_ @M%cwZ' ,-% geTafVe\cgbcTeV\T_`XagXcbei DV:8==I<P% JgXc[Xa :'% FTQ ?Mc bY <Z`Q^ZMÙ[ZMXIM`QÔ[a^_Q_' A[Z&AMbUSMÙ[ZMXLfXf% FkYbeW%+)),% cwZ' ++1%WbaWXXag_XnWXdhX XfcXV_T_eaXagXVhTaWb_Tf eX_TV\baXfXageXha\WTWXfWXha <fgTWbYXWXeT_XfgTa Xa ]hXZb%fX Tc_\VT_Tabe`TWX;XeXV[b \agXeaTV\baT_WXe\iTWTWX_T_Xl WX_TUhXaT iXV\aWTW'CT :begX JhceX`TTeZXag\aTgTÙ\xa TWbcg{gT_Ve\gXe\bUZeX?MCMY\M%C^[bUZOUMPQOX@QZP[fM%C^[bUZOUMPQ_(MOOUqZ\[_Q_[ÛM PQMSaM_p ^QSaXMOUqZPQ a_[_ #*210$%=T__bf,*)3+-02'

0- J8C@E8J8C:<>8% JXeZ\b%oCT VhXaVT[\WebZewY\VTXa _TVbaiXaV\{a fbUeXX_WXeXV[bWX_bf hfbf WX_bf Vhefbf WXTZhT \agXeaTV\baT_XfcTeTY\aXf W\fg\agbfWX_TaTiXZTV\{a%WX+* WXTlb WX*220r%Xa <D9@; @ILAF%8agba\b #;\e'$l BFCC_E>%DTe\b#:bbeW'$%:Q_ÙqZ PQX4SaM p PQ_OQZ`^MXUfMOUqZ\[XoÙOM%6[ZRQ^QZOUMUZ`Q^ZMOU[ZMXPQ SQ_ÙqZPQXMSaMXa \MU_Q_RQPQ^MXQ_p _QYQVMZ`Q_T X[_ RQPQ^MXQ_%8eTamTW\%ETiTeeT%+))2% cwZ' .-2% bUfXeiT _TXk\fgXaV\TWXXfgbf ce\aV\c\bf `wf T__wWX_T_TUbeVbaiXaV\baT_%l Xah`XeT Vb`b gT_XfT _Thg_\mTV\{al cTeg\V\cTV\{aXdh\gTg\iTl eTmbaTU_X%_TbU_\ZTV\{aWXab VThfTeWTzbf fXaf\U_Xf%_TbU_\ZTV\{aWXVbbcXeTe%l _Tf bU_\dTV\baXfeX_Tg\iTfT _TcebgXVV\{a%ceXfXeiTV\{a l ZXfg\{a WX_bf Vhefbf \agXeaTV\baT_Xf'

0%<fgX fXe\T X_VTfb%cbe X]X`c_b%WX_T:b`\f\{a @agXe]he\fW\VV\baT_WX_8ghX_@aYXe\be%_T:b`\f\{a @agXe]he\fW\VV\baT_WX_T:hXaVT WX_TCTZhaTCTG\VTfT%X_:b`\gxWX_T:hXaVT @agXe]he\fW\VV\baT_WX_T _nXZ\/a ?yWe\VT9T]bf JhU`Xe\W\baT_Xf%XageXbgebf'

..6

< )))))'!) !)') )!)))')) * (

* "'

@ R

UEY+Ffj Zfe]c`Zkfj \eki\ %@jkX[fjgifmè vzcckvt+tjfYi\ +lijfj

èk\iali`j[`ZZ`feXc\j'' \' MfclZ`fe\j Zfem\eZ`feXc\j

+ @cdXiZf Zfdg\k\eZ`Xc hl\ _\dfj jfjk\e`[f glekf Xek\i`fi`dgc`ZX hl\ cXj JifmèZ`Xj fjk\ekXe cXj Zfdg\k\eZ`Xj gifg`Xj [\ cXi\^lcXZ`•e [\ cXj X^lXj( jXcmfcXj hl\ Zfii\jgfe[\e X eXm\^XZ`•e pZfd\iZ`f èk\iali`j[`ZZ`feXc p efidXj [\ ]fe[f &c\^`jcXZ`•eZ`m`c(g\eXc(dè\iX( cXYfiXce Zfd\iZ`Xc'( f XcXi\^lcXZ`•e XdY`\ekXcd}e`dX+

@e \c \a\iZ`Z`f [\ kXc\jgfk\jkX[\j( cXjd`jdXj _Xe [\ ZfeZ\ikXicXji\cXZ`fe\j hl\ \eki\ \ccXjj\ ^\e\i\e \e kfief Xcfj Zlijfj [\ X^lXZfdgXik`[fj%!( cXjhl\ \e ^\e\iXc i\jlckXi{e XcZXeqX[Xjgfi cfj gièZ`*g`fj ^\e\iXc\j \jYfqX[fj [\j[\ cXgi{Zk`ZXek\ieXZ`feXc \ èkiX]\[\iXcZfdgXiX[X:%+

Mèg\ial`Z`f [\ kXc\jgièZ`g`fj gifm\e`\ek\j [\c fi[\e ali}[`Zfhl\ \o`jk\ \eki\ cfj @jkX[fj !( \j ZcXifhl\ cXXgc`ZXkfi`\[X[[\c ?\i\Z_fèk\ieXZ`feXc X cXj i\cXZ`fe\j èk\igifmèZ`Xc\j gi\j\ekX le Zfek\okf[\c`d`kX[f gfi cX>fejk`klZ`•e HXZ`feXc(\e ZlXekf cXjJifmèZ`Xj efjfe gifg`Xd\ek\ ueXZ`fe\jw( jèf u@jkX[fjw]\[\iX[fj YXaf\c j`jk\dXZfejk`klZ`feXc p jlj gi\m`j`fe\j+ ?\ Xc€(hl\ j\ \eZl\eki\e mèZlcX[XjX]XckX[\ XZl\i[f XleX ali`j[`ZZ`•e [ì`d\ek\ [\ cX>fik\ Mlgi\dX [\Eljk`Z`X[\ cXHXZ`•e &Xik+./4 >H'( f hl\ cfj kiXkX[fj gXiZ`Xc\jhl\Z\c\Yi\e \eki\ \ccXj[\YXe i\jlckXi XZfi[\j Xcfj gièZ`g`fj p Zfdg\k\e*Z`Xj Zfejk`klZ`feXc\j( p gfi \ccf [\YXe j\i gl\jkfj \e ZfefZ`d`\ekf

0/ :8EF'% >h\__Xe`b%o8W`\a\f TV\{a TÙ\XagT_r% DQbU_`M4YNUQZ`Qp DQOa^_[_AMà^MXQ_%ib_' .( ap -% bVghU X&W\V\XÙeX *21-% cwZ' .% bUfXeiT dhX _T\agXe]he\fW\VV\baT_\WTWWX_TTW`\ fgeTV\{a TÙ\XagT_ \`c_\VT ha cebU_X`T WXWXf_\aWX]he\fW\VV\baT_^MÙ[ZMQX[OUVhTaWb Xk\fgX haT W\fVbeWTaV\TXageX_TW\i\f\{a cb_yg\VTl _TXkgXaf\{a gXee\gbe\T_WX_TÙ\XagX% l X]X`c_\Y\VT Vb`b `XVTa\f`bf fhcXeTWbeXf WXgT_cebU_X`T T T_ZhaTf WX _Tf VbaYbe`TV\baXf VbaiXaV\baT_Xf dhX eXYXe\`bf Xa XfgXgeTUT]b'

00 <a XfgX fXag\Wb%VbaYbe`X Xkc_\VTa :8EF% >h\__Xe`b% o8c_\VTU\_\WTWWX_bfce\aV\c\bf WX_WXeXV[b \agXeaTV\baT_T _Tf eX_TV\baXf \agXecebi\aV\T_Xf Xa 8eZXag\aTr%bc' V\g'%cwZ' **+24 P DFP8EF% 8`y_VTe% oKeTgTWbf fbUeX _bf eXVhefbf [yWe\VbfVb`cTeg\Wbf Xa 8eZXag\aT' 8 cebc{f\gb WX_Iyb :b_beTWbr% bc' V\g'%cwZ' *)/+% Xa _bfTfhagbf cebc\T`XagX \agXeXfgTWhT_XfdhX eX_TV\baTa T _Tf Gebi\aV\Tf TeZXag\aTf%_Tf`\f`Tf TVg|Ta Xa ha `TeVb Thg{ab`b% l TagX _T ThfXaV\T WX abe`T Vbafg\ghV\baT_e\ZXa fhf eX_TV\baXf cbe _Tf abe`Tf WX_;XeXV[b \agXeaTV\baT_%chW\XaWbTVghTeVb`bfh]Xgbf Vba cXefbaT_\WTW\agXeXfgTWhT_eXfge\aZ\WT'

,- I<LK<I% GTh_%<Z`^[PaOOUqZMXPQ^QOT[PQX[_ F^M`MP[_%I<LK<I% =baWb WX:h_gheT <Vba{`\VT% Dxk\Vb% *222% cwZ' -,% bUfXeiT dhX _TXfXaV\T `\f`T WX_;XeXV[bWX _bf geTgTWbf \aV_hlX _bf ce\aV\c\bf Uwf\Vbf WX_;XeXV[b \agXeaTV\baT_ c|U_\Vb%fXzT_TaWb _T \agXeeX_TV\{a XageX _T gXbeyTWX _bf geTgTWbf l _T VbafgehVV\{a WX _bfce\aV\c\bf WX_;XeXV[b @agXeaTV\baT_'

*+)

< [2 "X"D<A''V

[\c &(-..!'.% % *cI&eik+ D(.. >H'+ kif kXekf fZlii\ Zfe cXgfj`Y`c`[X[ [\Z\c\YiXi #@*i"a\bg"\_*_"+ieXZèXc\j \e kXekfef j\Xe èZfdgXk`Yc\j ZfecXgfc}k`ZX\ok\i`fi [\ cXHXZ`•e p ef X]\Zk\e cXj]XZlckX[\j [\c\^X[XjXcBfY`\ief ]\[\iXc f \c Zi|[`kf g€Yc`Zf[\ cXHXZ`•e( Zfe ZfefZ`d`\ekf[\c >feî\jf HXZ`feXc&Xik+./1 >H'+

>fe \ccf( \c \jhl\dX ]\[\iXc Xi^\ekèf \jkXkl`[f Zfejk`klZ`feXc*d\ek\ \jk`glcX le i|^`d\e [\ JXZkfj èk\igifmèZ`Xc\j hl\ j\ gi\j\ekXZfdf cXèjkXeZ`Xèjkild\ekXc [\ cXj i\cXZ`fe\j ZfeZ\ikX[Xj [\ cXj\j]\iXj ]\[\iXk`mXj( j\X \e i\cXZ`fe\j [\ \jkXd\ekfj cfZXc\j \eki\ j}( f\eki\ |jkfj p \c gf[\i ^\e\iXc( \ èZcljf \eki\ cXjJifmèZ`Xj p fkiXjeXZ`fe\j \okiXea\iXj+

FXj i\cXZ`fe\j èk\igifmèZ`Xc\j hl\ j\ Zfejk`klp\e \e \j\\jhl\dX( j\ _XccXej`êX[Xj gfi [fj ZXiXZk\i}jk`ZXjgifg`Xj [\ cXjJifmèZ`Xj7 cX ^lXc[X[ l cXXlkfefd`X !+ >fej`^l`\ek\d\ek\( \j c•^`Zfhl\ \eki\ `^lXc\j hl\ j\ Xlkf^fY`\ieXe cfj Xjlekfj Zfdle\j j\Zfe[lqZXe d\[`Xek\ XZl\i[fj [\ mfclekX[\j!+ @e \jk\ Zfek\okf( \c\jkXYc\Z`d`\ekf [\ i\^}d\eZj XZfi[X[fj d\[`Xek\ JXZkfj èk\igifmè*Z`Xc\j gXiXcfj i}fj hl\ jliZXe \c XZklXck\ii`kfi`f eXZ`feXc(_X j`[fgXik\ [\c Zfek\e`[f [\ \jX kiX[`Z`•e gXZk`jkXgi\Zfejk`klp\ek\( kXcZfdf[\kXccXcXZXjl}jk`ZX[\jXiifccX[X gfi M<H G<LNDHI ?@ ?LIGD 04(

@e YXj\ X \jkfj Xjg\Zkfj( \j è[l[XYc\ hl\ \e cXA\[\iXZ`•eXi^\ekèX ef j•cf \o`jk\ le UJ7iXMSTEGXSV'PQZfejfc`[X[X \e cXgi{Zk`ZXkiX[`Z`feXc[\ jlj @jkX[fj ]\[\iX[fj( jèf hl\ cXd`jdX j\ \eZl\ekiX

02 :8JKFI@E8 ;< K8IHL@E@%DTe\T :X_\T%oCT Gebi\aV\T l _Tf Gebi\aV\Tfr% Xa898CFJ% DTeyT >TUe\X_T#VbbeW'$%7Q^QOT[CrNXUO[C^[bUZOUMXp @aZUOU\MX%Xa CT CXl%9hXabf 8\eXf% +)),%cwZ' +*0'

03 F:?F8&IL@Q% ETgT_\T%o;\fchgX JXgg_X`Xag biXe Eba&ETi\ZTg\baT_ LfXf bY@agXeaTg\baT_NTgXeVbhefXf3 K[Xbel TaWGeTVg\VXr%Xa 9F@JJFE ;< :?8QUhIE<J% C'P J8CD8E% J'D'8' #XWf'$%?Q_ ^Q__[aÔQ_QZ QMaQXXQP^[U` UZ`Q^ZMÙ[ZMX(IM`Q^DQ_[aÔQ_MZP<Z`QYMXU[ZMX?Mc%DTeg\ahf E\][bYY GhU_\f[Xef% CX\WXa(9bfgba%+)).'%cwZ' ,.-% eXY\XeXXa eX_TV\{a T _bf `XW\bf ab ]he\fW\VV\baT_Xf WXfb_hV\baTe W\fchgTffbUeX Vhefbf WX TZhTf \agXeaTV\baT_Xf dhX Xa _bf `\f`bf _Tf cTegXf `Tag\XaXa X_Vbageb_WX_cebVXfb% f\XaWb fh eXfh_gTWbbU_\ZTgbe\bfb_T`XagX f\ _b TVXcgTa' <fgTTceXV\TV\{a Xf XkgeTcb_TU_XT_ VTfb WX _bf eybf \agXecebi\aV\T_Xf Xa _bf f\fgX`TfYXWXeT_Xf%WbaWX_Tf Gebi\aV\Tf eXfh_gTa bU_\ZTWTf Xa VTfb WXTVhXeWb'

04 J8E D8IK@EF ;< ;IFD@% Dq' CTheT%7[OaYQZ`[_ 6[Z_ÙàOU[ZMXQ_4^SQZÙZ[_%:\hWTW 8eZXag\aT% 9hXabf 8\eXf% *22-% cwZ' *-+)% bUfXeiT W\iXefbfGTVgbf ceXVbafg\ghlXagXf WbaWX_Tf cebi\aV\Tf TVbeWTebaTfcXVgbf cebc\bf WX _bfeybf \agXecebi\aV\T_Xf%XfcXV\T_`XagX Xa eX_TV\{a T fh aTiXZTU\_\WTW'Gbe X]X`c_b% X_KeTgTWbWX_G\_TeWX *1+) XfgTU_XVyTdhX3 o<a _bf eybf LehZhTl l GTeTaw aTiXZTewa|a\VT`XagX UhdhXf WX_Tf cebi\aV\Tf T`\ZTf% VhlTf VbfgTf fXTa UTzTWTf cbe W\V[bfeybfr' ;\fcbf\V\baXf f\`\_TeXf fba bUfXeiTWTf Xa bgebf geTgTWbf'

./.

*<R"(<<<"<O"(*UP!MYX_

\eZXlqX[X \e \c d`jdf i|^`d\e Zfejk`klZ`feXc 5&Sh" _s. L %.. +iX[f Xc@jkX[f ]\[\iXc!+ @jkX\og\i`\eZ`X gXZk`jkX(\j leX \ogi\j`•e gifg`X [\cXji\cXZ`fe\j ZfcXYfiXZ`•ep \hl`c`Yi`f hl\ ZXiXZk\i`qXeXcfj EsjkX[fj]\[\iXc\j+

FX jè^lcXi`[X[ \e cXj jfclZ`fe\j ali}[`ZXj hl\ aljk`]`ZX cX\o`jk\eZ`X [\ le ?\i\Z_f YXjX[f \e kiXkX[fj \eki\ cfj @jkX[fjèk\i\jX[fj( \j cf hl\ g\id`k\ \eZXlqXi cXje\Z\j`[X[\j [\ ZX[Xi\cXZ`•eèk\i\jkX[lXc *j\X \eki\ @jkX[fj gifmèZ`Xc\j( f \eki\ |jkfj e \c @jkX[fH XZ`feXc*X gXikì [\ jlj c`ke`kXek\j_`[ifc•^`ZXj p ^\fî{]`ZXj( l [\jlj Zfe[`Z`feXd`\ekfj \Zfe•d`Zfj p gfc}k`Zfj+ @j c•^`Zf hl\ \ccf j\XXj}(pXhl\ Zfdf efj j\~XcX><MNILDH< ?@ N<LKODHD( \c kiXkX[fg\id`k\ jlg\iXi jXk`j]XZkfi`Xd\ek\ cXg\idXe\ek\ è\jkXY`c`[X[gfc}k`ZXgifg`X [\ cX Zf\o`jk\eZ`X [\ cXle`[X[ Zfe cX[`m\ij`[X[ hl\ \j^\e\iX[fiX [\ Zfe]c`Zkfj( p(\e ZXjf Zfe kiXi`f(cXjfclZ`•e m`\e\ `dgl\jkXgfi leX+jfcX [\ cXj gXik\j;!( Xjg\Zkf hl\ _XZ\ XcgXg\c [ì`d\ek\ [\Zfe]c`Zkfj èk\igifmèZ`Xc\j hl\ Zfii\jgfe[\ XcX>fik\ Mlgi\dX \e \cZfek\okf [\c Xik}Zlcf ./4 >H l hl\ i\]\iì\dfj Zfe dXpfi gi\Z`j`•e\e le dfd\ekf+

?\ \jk\ df[f( j\ Zfe]`^liX cXgi`d\iX ]fidX \e hl\ cXjJifmèZ`XjXi^\ekèXj gl\[\e jfclZ`feXi cfj Zfe]c`Zkfj XdY`\ekXc\j \e Zl\eZXjèk\igifmèZ`Xc\j+ FX e\^fZ`XZ`•e p XZl\i[f i\jlckXi{ cXYXj\ [\ cXi\^lcXZ`•e \e cXdXk\i`X+

@e \jk\ j\ek`[f( [`m\ijfj NiXkX[fj èk\igifmèZ`Xc\j gifZliXe^XiXek`qXiXjg\Zkfj \j\eZ`Xc\j [\ dXek\e`d`\ekf p ^\jk`•e XdY`\ekXc+FX fYcE^XZ`•e[\ gifk\^\i p Zsj\imXi cfj Zlijfj+[\ X^lXef \j \okiX~XXcX=7{Bk`‚X+Zfem\eZ`feXc\o`sssk\( k\e`se[; ([`jkèkXj+\oksi`fi`qXZ`fe\jhl\ i\jlckXe ZfeZfi[Xek\j ZfeUcXfYc`^XZ`•e Zfejk`klZ`feXc hl\ cXjXlkfi`[X[\j gifmèZ`Xc\j i\m`jk\e*\e cXdXk\i`X gfi [`jgfj`Z`•e \ogi\jX[\c Xik`Zlcf-* >H+

?\ \jk\ df[f( cXj \jkilZkliXj èk\igifmèZ`Xc\j [\jXiifccX[XjZfem\eZ`feXcd\ek\ gXiXcXZffg\iXZ`•e \ekfief Xle Zlijf [\ X^lX

!<a XfgX fXag\Wb%;8CC8M@8% 8_UXegbI'% @MZaMXPQ7Q^QOT[6[Z_ÙàOU[ZMX%CXk\f EXk\f% 9hXabf 8\eXf% +))-% cwZ' /02% bUfXeiT dhX ab chXWX WXfVbabVXefX _T\`cbegTaV\T dhX [Ta gXa\Wb_Tf YhXagXf WX_;XeXV[b \agXeaTV\baT_Xa _TVbaYbe`TV\{aWXahXfgeb ;XeXV[b Vbafg\ghV\baT_%WX`TaXeT dhX chXWXfXzT_TefX haT _yaXT[\fg{e\VTWXeXVXcV\{a WX_;XeXV[b \agXeaTV\baT_Xa X_;XeXV[b \agXeabVb`b YhXagXWX;XeXV[bl dhX fX eX`bagT *X _bf WXab`\aTWbf ocTVgbf ceXXk\fgXagXfr WX _T xcbVT WX _T:baYXWXeTV\{a'

06 :8JKFI@E8 ;< K8IHL@Ey%DTeyT :X_\T%oCT Gebi\aV\T l _Tf Gebi\aV\Tfr% bc%V\g'%cwZ' ++)'

.//

)#** <A(A @&\

DlZ[Ze gi\mZk {ZZ`fe\j \e cXdXkZi`X%!+@jk\ \j \c ZXjf( \eki\ fkisj( [\cX>fd`j`•e Dek\igifmèZ`Xc[\c <kl\c De]\i`fi [\jXiifccX[X XgXik7c.7[\cJifkfZfcf [\ @ek\e[`d`\ekf [\ .656 jljZi`gkf \eki\ G\e[fqX l FXJXdgX *[fe[\ cXj gXik\j Zfek\dgcXe XZZ`fe\j [\ i\Zlg\iXZ`•e pgifk\ZZ`•e [\c j`jk\dX \Zfc•^`Zf( \eki\ \ccXj \c Xld\ekf [\ cXf]\ikX_}[i`ZX X \]\Zkfj [\ jXk`j]XZ\i Xjg\Zkfj \Zfc•^`Zfj [\c Zlijf*( [\ cX<lkfi`[X[ [\ >l\eZX [\c L}f +<qlc &<>L<' *ZlpXj ]leZ`fe\jZfek\dgcXe cXgi\m\eZ`•e [\ cX ZfekXdèXZ`•e [\ cXj s^lXj( cX\jkXY`c`qXZ`•e[\ ZXlZ\j p d{i^\e\j ]clm`Xc\j(\c dXek\e`d`\ekf [\c\hl`c`Yi`f \Zfc•^`Zf \e cXi\^`•e( \eki\ fkiXj ]leZ`fe\j*( f [\ cX<lkfi`[X[ Dek\iali`j[`ZZ`feXc [\ cXj >l\eZXj [\ cfj L}fj H\îf(H\lhl|e p F`dXp &<c>' *Zlpf fYa\kf c\ `dgfe\ \ek\e[\i \e kf[f cfi\cXk`mfXcXgi\j\imXZ`•e [\ cfj Zlijfj [\ X^lX*f

Kl`q{j \c ZXjf gfi \oZ\c\eZ`X \e \c hl\ cXfYc`^XZ`•e[\ gi\j\imXi\c Zlijf [\ X^lXj\ dXe`]`\jkX( \j \c hl\ Zfii\jgfe[\ XcX<lkfi`[X[ [\>l\eZX GXkXeqX*L`XZ_l\cf &<>OG<L'( fi^Xe`jdf Zfejk`kl`[fZfem\eZ`feXcd\ek\ XgXikì [\ le gifZ\jf al[`Z`Xc[\ i\Zfdgfj`Z`•eXdY`\ekXc[\c Zlijf [\ X^lX\e YXj\ XcXik}Zlcf1. \H( p Zlpf fYa\kf \jcXi\^lcXZ`•e p Zfekifc [\ cXj XZk`m`[X[\jZfe èZ`[\eZ`X XdY`\ekXc+FXj Xki`YlZ`fe\j [\ \jk\ \ek\ èk\igifmèZ`Xc(Zf_\i\ek\d\ek\ Zfe jlfYa\kf( dl\jkiXe Zfe ZcXi`[X[ cXèjkild\ekXZ`•e [\c gièZ`g`f [\gi\j\imXZ`•e p Zfej\imXZ`•e [\ cfj Zlijfj [\ X^lX+

M`klXZ`•ej`d`cXi j\ gi\j\ekX Zfe cXjXki`YlZ`fe\j [\]è`[Xj \e \c{dY`kf [\ cX<D> *f( Xek\ cXXlj\eZ`X [\ iXk`]`ZXZ`•e(\e gifZ\jf [\]fidlcXZ`•e [\ efidXj UZRUQÛhl\ \e \c ZXjf [\c >fd`k| Dek\iali`j*[`ZZ`feXc[\c L}f >fcfiX[f &>IcL>I' Zfejk`klp\ \c NiXkX[f [\ .66/s\e i\cXZ`•e X cXgfj`Y`c`[X[ [\ gifgfe\i d\[`[Xj [\ gi\m\eZ`•e [\i\Zfdgfj`Z`•e [\ gifZ\jfj [\ ZfekXdèXZ`•e [\c Zlijf [\ X^lX Xcfj@jkX[fj i`Y\i\i`fj( p X[fgkXi jXeZ`fe\j \e ZXjf [\ èXZZ`•e [\ d\[`[Xj\]\Zk`mXj gfi cXj ali`j[`ZZ`fe\j i\jgfejXYc\j+ @jkX gfj`Y`c`[X[jXeZ`feXkfi`Xdl\jkiX Zfe ZcXi`[X[cXZfeZ`\eZ`X [\ fYc`^XZ`•e hl\ j\Zfe]fidX \e \c jlj kiXkfgifg`f [\ cXi\cXZ`•e èk\igifmèZ`Xc+

1- CTf Tge\UhV\baXf TÙ\XagT_Xf eXZh_TWTfVbaiXaV\baT_`XagX Xa gbeab T _bfeybf :b_beTWb%9Xe`X]b% 8mh_%C\`Tl% EXhdhxa l EXZeb%l DTgTamT&I\TV[hX_b%Tfy Vb`b_T gXaWXaV\T Xa _T '`TgXe\T% fX TaT_\mT Vba `Tlbe WXgT__XXa G@EKF%DThe\V\b %o:TeTVgXe\mTV\{a WX_bf FeZTa\f`bf WXVhXaVT Xa X_WXeXV[b TeZXag\abr%Xa <D9@;@ILAF%8agba\b l D8K?LJ <J:FI@?L<C8% D\ZhX_#;\e$ XgT_%B^S'hZU_Y[_PQOaQZOMQZ8_\MpM l 4^SQZÙZM2[^SMZUfMOUqZ%O[Y\Q`QZOUQ_l ÙZQZOUQOU[Z%;ha^Xa% 9hXabf8\eXf% +)*)% cwZ' *)1(*.+'

./0

%*X&<(<!Ô"Xa '!)))))) @ #U'

((%.. *

< jl m\q( cfj i\^`d . %M[ + E!&v+'lcsU&\e$ * c\ %XD[Xc vj X fi[X[i jèk\igifmèZ`Xcd\ek\ kXdY`|e \ok\i`fi`qXe cXgifk\ZZ`•e p gi\jZE7t7cZ`%e[\ cfj >lk(jfj Zfdf le g%ièZ`g`f[\c ?\i\Z_f èkiX]\[\iXc Xi^\ekèf( pXj\X(XkiXm\j[\ cXgi\m`j`fe [\ le ZXl[Xcd}e`df gXiX\c dXek\e`d`\ekf[\c ZXlZ\ :Zfdf fZlii\ \e \c NiXkX[f [\ .65/ jfYi\ \c i}f =\id\af*(f pXj\X XkiXm|j [\ cX]àXZ`•e[\\jk{e[Xi\j [\ ZXc`[X[hl\ c`d`kXe\cljf *Zfdf fZlii\ Zfe \c NiXkX[f[\ .643 jfYi\ \c i}f >fcfiX[f*f @jkXjj`klXZ`fe\j( dl\jkiXe el\mXd\ek\ cXmXi\]\i`[X i\cXZ`•e \o`jk\ek\ \eki\\c ljf \hl`kXk`mf p iXqfeXYc\ p cXgifk\ZZ`•e p gi\j\imXZ`•e [\ cfjZlijfj [\ X^lX+

00 (52:+054-8 1:708,0++054)2-8>fdf _\dfj X]ìdX[f Xek\i`fid\ek\( ZlXe[f le i}f kiXjgXjXcX

]sfek\iX \o`jk\ek\ \eki\ [fj @jkX[fj gifmèZ`Xc\j( j\X j\gXi{e[fcfj f

Zc`sZlsis\esf ([sj[\ les Xcfkif( \c ZXjf \j XcZXeqX[fgfi leX j\i`\ [\gic..>.gcIMali}[`Zfj hl\ `dgfikXe cXe\Z\j`[X[ [\ hl\ \eki\ \jfj @jkX[fjj\ i\Xc`+Z\le l7f \hl`kXk`mf l iXqfeXYc\(j\ \m`k\e g\ial`Z`fj j\ej`Yc\j(j\ i\ssZ\e giXZk`ZXjZffg\iXk`mXj( j\ gifk\aX l gi\j\im\ \c Zlijf( lkXdY`|e j\ gif[lqZX leX e\^fZ`XZ`•e \eki\ cfj i`Y\i\~fj+

@jkfj gièZ`g`fj( Zfe]fidXe le i|^`d\e ^\e\iXc Xgc`ZXYc\XcfjZlijsj [\ X^lX dk\i\jkX[lXc\j( Xlehl\ *Zfdf m`dfj \e \c XgXikX[fgi\msf*( cfj d`jdfj gl\[\e \jg\Z`]`ZXij\ l gXik`ZlcXi`qXij\d\[`Xek\i\cX>cfe\j Zfem\eZ`feXc\j+

+ Ns[f \ccf( jli^\ [\ cXZfdle`[X[ [\ èk\i\j\j hl\ \o`jk\ \eki\[`Z_fj @jkX[fj jfYi\ le i\Zsckjf ZfdgXik`[f( \j [\Zì( le i\Zlijf hl\gi\j\ekX sis sl +eXkliXc\qX+Z`\ikXj ZXiXZk\i}jk`ZXjhl\ `dgc`ZXe hl\ \csjf [\c dcsdf gfi leX [\`sXisZ+j s..gXZkXi{e\Z\jXi`Xd\ek\ \e cXji\jkXek\j( j`\e[f e\Z\jXef le \Zgx`c`Yef\eki\ cXjd`jdXj k\e[`\ek\ XcXgifm\Z_Xd`\ekf Xid•e`Zf+

+ @e sjk\ Zfek\okf( cXZffg\iXZ`•e &l cXZfej`^l`\ek\ ZfejlckX \è k\iZXieYaf [\ è]fiieXZ`•e \eki\ cfj i`Y\i\~fj* _X [\ Zfe[lZì cXZf\o`sk\eZ`X _XZ`XcX\hl`[X[ l iXqfeXY`c`[X[ \e cXgXik`Z`gXZ`•eZffi[èX[X [\ kf[Xj cXj gXik\j \e \c Zfek\okf [\ jlj e\Z\j`[X[\jgi\j\ek\j l [\jXiifccfj XcZXeqX[fj+J\if \jX Zffi[èXZ`•e ef j\ gif[lZ\(f ef jl\c\ gif[lZìj\ [\ dXe\iX \jgfek{e\X( jèf hl\ \j e\Z\jXi`fXcZXeqXileX X+i(dfe}X[\ èk\i\j\j XcXhl\ cXjgXik\j cc\^Xe d\[`Xek\leX Zfes\ikXZcIe( le XZl\i[f+ @jkXj`klXZ`•e X jl m\q( \o`^\ hl\ cXjgXik\j Xk`\e[Xe cfj dk\i\j\j i\Z}gifZfj l Xm\Z\j Zfekifm\ik`[fj( l j\i\cXZ`fe\e \e YljZX [\ leX mfclekX[ Zfd€e+

./1

.(7. e %^f*è `•e( c%W ! l( @ak%&%.X\"e \eki\ cfj @jkX[fj k\e[`\ek\jXXZ T[XileX jfcl `•l F__o*iiX[X( \j \c ZXdèf gfi \c hl\ cfj i`Y\i\~f jgifZliXe Xii`YXiXcX%l+i[f [\ mfclekX[\j( l gfi cf ^\e\iXc gl\[\

sèmfclZiXi gifZ\jfj Zfdgc\afj( Zfe [`m\ijXj ]XZ\kXjk|Ze`ZXj(\Zfe•d`*ZXj(jfZ`Xc\j( XdY`\ekXc\j( \k\+( hl\ gl\[\e [\dXe[Xi cXi^fj g\i`f[fj[\ Xe{c`j`j l Zfej`[\iXZ`•e!7

Mè \dYXi^f( [\Y\dfj i\Zfi[Xi hl\ e\^fZ`Xi ef `dgc`ZXe\Z\jXi`Xd\ek\ cXfYc`^XZ`•e [\ XZfi[Xi!( CXp fZXj`fe\j \e hl\ cfjèk\i\j\j [\ cXjgXik\j( j\ gi\j\ekXe [`jkXek\j X€e ZlXe[f j\ i\Xc`Z\e\j]l\iqfj gXiXXcZXeqXileX jfclZ`•e ZfdgXik`[X+ FXj ZìZlejkXeZ`Xj[\c ZXjf XcXclq [\ cXYl\eX ]\ jfe cXjhl\ dl\jkiXe _XjkX[fe[\ \jiXqfeXYc\ \ok\e[\i cXi\cXZ`•e e\^fZ`Xc( p ZlXe[f [`jk\e[\i jlZfekèl`[X[!8 l jl ZfeZclj`•e gl\[\ [\Y\ij\ Xle XZl\i[f *\e \c ZXjf[\ hl\ cXe\^fZ`XZ`•e j\X ]ilZk}]\iX*( f Xc[\j`jk`d`\ekf [\c gifZ\jfe\^fZ`Xc gfi \ek\e[\ij\ hl\ \c d`jdf j\ _XX^fkX[f jè gfj`Y`c`[X[ [\ZfeZ\ikXZ`•e(

>fe \ccf( \c gifZ\jf e\^fZ`Xc \eki\ cfj @jkX[fj i`Y\i\~fj [\ leZlijf [\ X^lX[\Y\ gi\j\ekXi cfj \j]l\iqfj iXqfeXYc\j gfi ZfeZ`c`Xicfjèk\i\j\j è`Z`Xcd\ek\ \e]i\ekX[fj%!( g\if ef e\Z\jXi`Xd\ek\ _X [\

'" La X]X`c_b \agXeXfTagX WXXfgbf cebVXfbf _b TaT_\mT`bf T_ Vbaf\WXeTe X_exZ\`Xa WX_I\b :b_beTWb%WbaWXX_ cebVXfb WXaXZbV\TV\{a dhX __Xi{ T_ TVhXeWbfXXkgXaW\{ Wbf WxVTWTf%X \aib_hVe{% TWX`wf WX VbaYXeXaV\Tf cXe\{W\VTf WX _bfeXceXfXagTagXf cb_yg\Vbf WX_bf <fgTWbf% X_ WXfTeeb__bWX_TUbeXf gxVa\VTf Vb`c_X]Tf'

1/ <_Ke\UhaT_8eU\geT_Xa X_4RRMU^QPa XMO?MZ[ad% fXagXaV\T WX_*/ WXabi\XÙeXWX*2.0% Xa DQ\[^`_ [R <Z`Q^ZMò[ZMX4^NU`^MX4cM^P_ & DQOaQUXPQ_ EQZ`QZOQ_4^NU`^MX%ib_' O@@%ETV\baXf La\WTf #LE JT_Xf Eb' *2/,M,$% +))/% cwZf' +1* T ,*0% bUfXei{ _TaXVXf\WTWWX aXZbV\Te WX UhXaT YX%_b dhX \`c_\VT dhX _Tf cTegXf WXUXagXaXe XaVbaf\WXeTV\{a _bf \agXeXfXf eXVycebVbf p geTgTeWXVbaV\_\Te_bfXYXVg\iT`XagX' GXeb _TThfXaV\T WXTVhXeWb%ab Vba__XiT _\`\gTV\{a T _TfbUXeTa\T WXa\aZhaT WX_Tf cTegXf%_Tf dhX chXWXa Vbag\ahTe fhf Vb`Xg\Wbf' <fgX `\f`b VbaVXcgb Xfgw ceXfXagX Xa X_cebahaV\T`\Xagb WX_T:begX @agXeaTV\baT_WXAhfg\V\T' fXagXaV\T WX_+) WXYXUeXebWX*2/2 Xa A[``Z fXT O[ZÙZQZ`MX_TQXRVTfXf% DQ\[^`_ [R =aPSYQZ`_' 4Pbo_[ê B\UZU[Z_MZP B^PQ^_%ClWX%*2/2% cwZf' , l ff' <a \ZhT_ fXag\Wb%TegyVh_b*0'+ WX_T:baiXaV\{aWXEhXiT Pbe^ WX*220' '

10 IXVbeWT`bf Xa XfgX fXag\WbdhX _T:begX GXe`TaXagX WXAhfg\V\T @agXeaTV\baT_%Xa X_Tfhagb DMUXcMe^MRRoONQ`cQQZ X&jRYIRMWMZP C[XMZP #^MUXcMe_QO`[^ XMZPcM^qc&WMU_UMP[ê_$%Fc\a\{a Vbafh_g\iT WX_ *. WXbVghUeXWX *2,*% =aPSYQZ`_% B^PQ^_ MZP4PbU_[ê [\UZU[Z_% JXe\Xf 8(9 Eb -+% IXZ\fgeb ZXaXeT_ap ,2% CXlWXf%*2,*% cwZf' *)1P ff'% XagXaW\{ dhX _T bU_\ZTV\{a WX aXZbV\Te3 oab f{_b Vbaf\fgX Xa XfgTU_XVXeaXZbV\TV\baXf' f\ab gTÙ\xa Xa cebfXZh\e xfgTf _b `wf _X]bf cbf\U_X Vba `\eTf TVbaVXegTe TVhXeWbfr' <a fXag\Wb VbaVbeWTagX%:begX @agXeaTV\baT_WX Ahfg\V\T%<Z`Q^\^Q`MÙ[Z [R `TQ 4S^QQYQZ` [R /2 YMÔT .62. NQ`cQQZ `TQ I;B MZP 8Se\`%Fc\a\{a Vbafh_g\iT WX_+) WX W\V\XÙeX WX *21)% DQ\[^`_ [R =aPSYQZ`_% 4PbU_[êB\UZU[Z_ MZP B^PQ^_% *21)% cwZ' 0,'

11 :begX @agXeaTV\baT_WXAhfg\V\T%fXagXaV\T WX_+) WXYXUeXebWX*2/2 Xa A[^`Z_QMO[ZÙZQZ`MX_TQXRVTfXf% bc' V\g'%cwZf' , p ff' <a \ZhT_ fXag\Wb%TegyVh_b*0'+ WX_T:baiXaV\{a WXEXj Pbe^ WX *220'

./2

%L<i<(< "(iDZc !**<*(* < < @

LZfeZclì \o`kfjXd\ekZ+ S"33**\c gi`d\if cb v+DnUR* #*%' )***# [ "@PAFJ

fYj\imX[f \e \c glekf Xek\i`fi( \j gfj`Yc\ D++cl(cX c30__!^3&\]fidXc`Z\e jlZfdgifd`jf d\[`Xek\ cXZ\c\YiXZ`•e [\ le kiXkX[f U+. fkiX ]fidXfYc`^XZ`feXc+ +

Mè\dYXi^f( \c gifYc\dX iX[`ZX\e Xhl\ccfj ZXjfj \e hl\ j\ _XeX^fkX[f cXj èjkXeZ`Xj iXqfeXYc\j [\ Y€jhl\[X [\ Zfej\ejf jè\eZfekiXij\ gfj`Y`c`[X[\j [\ XZl\i[f+ R \jk\ \jZ\eXi`f ef \j kXe\okiX~fj` Zfdgi\e[\dfj hl\ cXmfq VMYEP$j`ê`]`ZXk`mX[\ cXg\ijfeX hl\ XjgsXcXm\q Xcf d`jdf hl\ fkif( k`\e\ jl iX}qcXkèX\e VMYEPMW$\hl`mXc\ek\Xi`Y\i\~f( cXhl\ Xjl m\q gifm`\e\ [\ ^k=X=_&..-'128 \j [\Zì( i`Y\i\}`fni`mXc`[X[jfe \ogi\j`fe\j Zfe\oXj p Zfe \ccf gi\j\ekXe \c [\jXZl\i[fZfdf Xc^f èdXe\ek\+!+

@e cfj j`jk\dXj ]\[\iXc\j( \c XZ\imf Zffg\iXk`mf \eki\ cXjle`[X[\jhl\ cf èk\îXe Zfe j\^li`[X[ XgXi\Z\i{ gfk\eZ`X[f \e ZlXekf gi\j\ekXe]l\iqXj Z\eki}g\kXj d{j gifeleZ`X[Xj hl\ \c dXiZf èk\ieXZ`feXc^\e\iXc+ FX jfc`[Xi`[X[ eXZ`feXc(l cXXZZ`•eZfeZ\ikX[fiX hl\ g\id`k\cX\o`jk\eZ`X [\ leX Xlkfi`[X[ ]\[\iXc Zfd€e [\Y\ ]XZ`c`kXil gi`fi`qXi\jkXj èjkXeZ`Xj[\ XZl\i[f( kXcZfdf èj`jk\ek\d\ek\ _X jfjk\e`[f cXali`jgil[\eZ`X [\ \jk\ k`gf [\ @jkX[fj \e cfj Zfe]c`Zkfj jfYi\ i}fjZfdgXik`[fj hl\ j\ _Xe jljZ`kX[f \eki\ cfj @jkX[fj ]\[\iX[fj !(

1M 7UOOU[ZMÛ[PQ XM?QZSaM 8_\Qp[ Q% Mbm oI\iT_r% IXT_ 8VTWX`\T <fcTzb_T%DTWe\W%*20)% cwZ' **.*'

13 <a XfgX fXag\Wb%VbaVbeWT`bf Vba 8agba\b <D9@; @ILAF #55Ge{_bZbr%Xa <D9@;@ILAF%8agba\b #W\e'$p BF_C_E>% DTe\b #VbbeW'$%:Q_ÙqZ PQX4SaM p PQ_OQZ`^MXUfMOUqZ\[XoÙOM%bc' V\g'%cwZ' ,*$ VhTaWb bUfXeiT _T f\ghTV\{a `haW\T_ WX Ve\f\f Xa `TgXaT[\We\VT p TVhfT dhX3 oLaT WX _Tf VbafXVhXaV\T WX X__b Xf _T XkTVXeUTV\{a WX _TVbaY_\Vg\i\WTWdhX Xa X_wÙ\gb WX_TZhT fhX_X Xk\fg\e XageX _bf cTeg\Vh_TeXf%XageXxfgbfl _bf Id%W"XeXf" c|U_\Vbf% cXeb'@TeaU_xaXageX _bf <fgTWbf YXWXeTWbfXageXf\ l WXT_ZhabfWX xfgbf Vba _T =XWXeTVg{a e Xa ZXaXeT_%XageX _bf cbWXeXf WXfVXageT_\mTWbfcb_yg\VT`XagX$' <f Xa XfgX `TeVn X'n* dhX VeXVX l fX WXfTeeb__TWXW\fg\agTfYne`Tf XaX_wÙ\gb WX_TZhT _TVbaY_\Vg\i\WTWf\X`ceX _TgXagXXa X_ c_Tab WX_bf caaV\c\bf XageX_Tf W\fg\agTf cTegXf WX_<fgTWb Xa _bf <fgTWbf dhX fX XfgehVgheTa UT]b X_ce\aV\c\b WX_TWXfVXageT_\mTV\{a cb_yg\VTr%fXzT_TaWb _T W\iXef\WTW WX X]X`c_bf dhX fheZXa WX _TfXkcXe\XaV\Tf XkchXfgTf Xa W\V[T bUeT'

-0 <fgT cTeg\Vh_Te\WTWdhX fX ceXfXagT Xa _bf cebahaV\T`\Xagbf ]hW\V\T_Xf WX_bf<fgTWbf YXWXeT_Xf fbUeX VbaY_\Vgbf XageX fhf \agXZeTagXf cbe TZhTf Vb`cTeg\WTf%WbaWXXf Vb`|a _TbUfXeiTV\{a p eXVb`XaWTV\{a cbe cTegX WX_bf ge\UhaT_Xf [TV\T _bf<fgTWbf _\g\ZTagXf Xa VhTagb T _TVbaiXa\XaV\T WX_TeXfb_hV\{a WXgT_Xf W\YXeXaWbfcbe`XW\b WX TVhXeWbf aXZbV\TWbf' <fgX [T f\Wb% cbe X]X`c_b% X_ Ve\gXe\b WX _T :begXabegXT`Xe\VTaT Xa 6[X[^MP[ b' >MZ_M_ #*2-,$ ,+) LJ ,1,% 4Ûf[ZM b' 6MXUR[^ZUM#*2/,$% ,0, LJ .-/% AQN^M_WMb' Ie[YUZS Q` MX#*2-.$% ,+. LJ .12% XageX bgebf4Ve\gXe\baXZbV\T_ dhX [T XkceXfTWb gTÙ\xa Xa bgebf Tfhagbf W\fg\agbf T_WX_bf VhefbfWXTZhT%cXeb dhX Xa eXT_\WTWeXY\XeXT _TVbai\iXaV\T XageX _bf <fgTWbf% Vb`b bVheeXXa _Tf VhXfg\baXf _\`ygebYXf #cbe X]X`c_b% IM_TUZS`[Z b' B^QS[Z #*2)2$% +*- LJ +).$%b WXcebU_X`Tf eXZ\baT_Xf WXVbagT`\aTV\{a #AQc J[^W b' AQc =Q^_Qe #*2*1$%+./ LJ+2/$' <fgX Ve\gXe\baXZbV\T_ Xfgw ceXfXagX Xa _T]he\fcehWXaV\T TeZXag\aT eXYXe\WTT_ e\b8ghX_ dhX eXYXe\`bf Xa XfgX geTUT]b'

./3

Z# $#" =' ]%((

* "3* **"3*g 3@Wb_"__@@"X_Tf gXik\j( \ekfeZ\j( g\id`k\ jlg\iXi cXg\idX*e\ek\ è +jkXY`c`[X[gfc}k`ZXgifg`X [\ cXZf\o`jk\eZ`X [\ cXle`[X[ ZfecX[`m\ij`[X[ hl\ \j ^\e\iX[fiX [\ Zfe]c`Zkfj( cfj ZlXc\j gl\[\s j\iXccXeX[fj jXk`j]XZkfi`Xd\ek\ gfi \jkX m}X(J\if \e ZXjf ZfekiXi`f( cXjfclZ`•e m`\e\ `dgl\jkX gfi leX jfcX [\ cXj gXik\j( ^\e\iXcd\ek\ cXd{j ]l\ik\( f j\X \c •i^Xef Z\ekiXcf ]\[\iXc!+

>fej\Zl\ek\d\ek\( ZlXe[f kXc\j ZfeZ\ikXZ`fe\j ef i\jlck\egfj`Yc\j( cXle`•e ]\[\iXk`mX `dgfe\ cXe\Z\j`[X[ [\ leX jfclZ`•ejlg\iX[fiX [\ cXjZfekifm\ij`Xj \eki\ cfj \ jkXd\ekf j(hl\ cXZfe]fidXe+@j gfi \ccf hl\ ef i\jlckX \okiX~f hl\ \e kXc\ji\^le\i7\j ]\[siXkDmfj\o`jkXe d\ZXe`jdfj gXiX*\e Z`\ikfj jlgl\jkfj l YXaf gXik`ZlcXi\jZXiXZk\i}jk`ZXj[\k\idèX[Xj gfi cfj jla\kfj èmfclZiX[fj* ZfeZclì cXj[`jglkXj hl\ j\ ^\e\i\e \eki\ cfj \jkXd\ekfj cfZXc\j \eki\ j}( f \eki\|jkfj l cXXlkfi`[X[ Z\ekiXc!+ +

>fe \ccf( le iXj^f g\Zlc`Xi [\c i|^`d\e ]\[\iXc Xi^\ekèf &l \e^\e\iXc [\ kf[f \eZlX[i\ ]\[\iXk`mf* \j cX\o`jk\eZ`X [\ le •i^Xef\eZXi^X[f [\ [ì`dì Zfe]c`Zkfj \eki\ cXA\[\iXZ`•e l cfj @jkX[fjd`\dYifj( jXcmX^lXi[Xe[f cXgi`dXZ}XZfejk`klZ`feXc%!(

@e \jk\ j\ek`[f( \c j`jk\dX Zfejk`klZ`feXc Xi^\ekèf ef _X j`[fXa\ef X \jkX [`j]leZ`•e \e cXj i\cXZ`fe\j èk\igifmèZ`Xc\j \e+ \kXisjèZcljf Xek\i`fi\j Xjl ^\e\j`j+ Jfi kXcZXljX(XZfi[X[X cX>fejk`klZ`•eHXZ`feXc \e .520( cfj @jkX[fj gifmèZ`Xc\j Zfejfc`[Xe[f cXle`•e]\[\iXk`mXhl\ cf ZXiXZk\i`qXi\^lcXife \e ]fidX \ogi\jX cX\oZclj`•e[\ cX]l\iqX gXiXjfclZ`feXi jlj Zfe]c`Zkfj èk\i\jkX[lXc\j+

< kXc\]\Zkf( \c \ekfeZ\j Xik}Zlcf.-6 >H [\ .520 *ZfeZfi[Xek\Zfe \c XZklXcXik}Zlcf./4 >H [\ .661* [`jgljf hl\7 ueè^leX gifmèZ`Xgl\[\ [\ZcXiXi(e` _XZ\i cX^l\iiX XfkiX gifmèZ`X( Mlj hl\aXj [\Y\ej\i jfd\k`[Xj XcX>fik\ Mlgi\dX [\ Eljk`Z`Xl [ì`d`[Xj gfi \ccX+Mlj_fjk`c`[X[\j [\ _\Z_f jfe XZkfj [\ ^l\iiX Z`m`c(ZXc`]`ZX[fj[\ j\[`Z`•ef XjfeX[X( hl\ \c BfY`\ief A\[\iXc [\Y\ jf]fZXi l i\gi`dì Zfe]fid\XcXc\pw2.+

***1\ :8JKFI@E8 ;< K8IHL@E@%DTeyT :X_\n% o_T Gebi\aV\T p _Tf Gebi\aV\Tfr% bc%V\g'%cwZ' ++)''

16 IF9C<;F% Exfgbe ;'% o<_ VTfb 9TWTeb s_T :begX JhceX`T iT [TV\T ha ahXibeb_\afg\ghV\baT_7r% DQbU_`M?M ?Qe%e+))0&8% cwZ' +-)'

2- =<IEtE;<Q J<>8;F% =eTaV\fVb% o<_ YXWXeT_\f`b Xa 8`xe\VT _Tg\aTr% Xa98Q8E% M\VgbeXgT_%7QRQZ_MPQ _T6[Z_ÙàOUqZ2SM^MZÙ_Y[ l O[Z`^[XQ_%<W\Te%9hXabf8\eXf% +)),% cwZ' **0-' '

2. _T \WXTWX_TagXa\`\Xagb cTVyY\Vb`XW\TagX _Tfb_hV\{a WXVbagebiXef\Tf cbe`XW\bf ab UX_\ZXeTagXf%dhX Xa _T :bafg\ghV\{a WX *1., fX WX_XZTXa _T ]hW\VTgheT

./4

<@

U 3M

@e \jk\ \jhl\dX( cfj Zfe]c`Zkfj èkZigifmè kXc%jk.F. % eZ j\i\jl\cmXe e\^fZ`Xcd\ek\( ef gl\[\e ZfekèlXi gfi m}Xj[\ _\Z_f [\df[f kXchl\ X]\Zk\e cX^fY\ieXY`c`[X[ [\ cfj @jkX[fj \e [`jglkX( l[\Y\e j\i jfd\k`[fj XcgXg\c [ì`d\ek\ [\ cX>fik\ Mlgi\dX [\ Eljk`Z`X[\ cXHXZ`•e+ >fe \ccf( \c i|^`d\e Zfejk`klZ`feXc Xi^\ekèf èkif[laf\e jl k\okf gfj`k`mf d\ZXe`jdfj jlg\iX[fi\j [\ cXj Zfe]ifekXZ`fe\jgifg`Xj [\ cXjXlkfefd}Xj ^lY\ieXk`mXj hl\ `dgfe\ cXZf\o`jk\eZ`X [\[fj j`jk\dXj \jkX[lXc\j *\c ]\[\iXc l cfj [`m\ijfj \jkXd\ekfj gifm`^Z`Xc\j* \e le d`jdf k\ii`kfi`f 2/+

9;@6!'G!'37 '!)'))))

?\Y\ k\e\ij\ gi\j\ek\ gXiXZfdgi\e[\i \c j\ek`[f [\ |jkX p fkiXj[`jgfj`Z`fe\j hl\ i\^lcXe cXèk\im\eZ`•e al[`Z`Xc \e cXm`[X Zfk`[`XeX(hl\ Xek\ cX\o`jk\eZ`X [\ j`klXZ`fe\j Zfe]c`Zk`mXj\eki\ cfj d`\dYifj[\ leX Zfdle`[X[ *f \eki\ Xhl\ccfj p |jkX*( j\ _XZ\ e\Z\jXi`f hl\kXc\j j`klXZ`fe\j ef j\ dXek\e^Xe( j`\e[f gi\Z`jf _XZ\icXj [\jXgXi\Z\igXiXhl\ cXgXq jfZ`Xc ef j\ g\ikliY\ è[\]è`[Xd\ek\+ >fdf cXXlkf[\*]\ejX \j le d\[`f `dg\i]\Zkf gXiX \ccf( Xci\ZfefZ\i cXgfj`Y`c`[X[ [\

YXWXeT_%ceXfXagT TagXVXWXagXf Xa _Tf T_\TamTf cebi\aV\T_Xf WXbe\dXa cTVg\fgT' <a gT_fXag\Wb%DX CTheT J8E D8IK@EF ;< ;IFD@ #7[OaYQZ`[_ 6[Z_ÙàOU[ZMXQ_4^SQZÙZ[_%bc' V\g'%cwZ' *,11$ WXfVe\UX X_KeTgTWbWX T`\fgTW l T_\TamT XageX _Tf Gebi\aV\Tf WX:{eWbUT% :TgT`TeVT% JTa Ch\f%DXaWbmT l CT I\b]T% fhfVe\cgb X_. WX]h_\b WX*1,)% dhXXfg\ch_T dhX3 o<a X_ VTfb WX ZhXeeT XageX bgeTf cebi\aV\Tf cebVheTewa cbe gbWbf _bf`XW\bf cbf\U_Xf \`cbaXe _bf bY\V\bf WX `XW\TV\{a T`\fgbfT XageX _Tf cTegXfUX_\ZXeTagXfr' <a XfgX fXag\Wb%_T ThgbeT eXVhXeWTdhX Xa _T `TlbeyT WX _bf cTVgbf\agXecebi\aV\T_Xf ceXXk\fgXagXf T_ exZ\`Xa Vbafg\ghV\baT_ aTV\baT_%_bf dhX Xa ZXaXeT_gXaWyTaT _bZeTe_T ha\{a l cTm WX_Tf cebi\aV\Tf% TcTeXVX _TY\ZheT WX3ohaT Gebi\aV\TVb`b ZTeTagX' <__TWXUyTVbaV\_\Te_Tf ceXgXaf\baXf bchXfgTf% TcTV\ZhTe eXfXag\`\Xagbfl Vbageb_Te _bf \aVh`c_\`\Xagbf% TVghTaWb Vb`b ZTeTagX cTeT Xi\gTe dhX fXWXfXaVTWXaXa ahXibf VbaY_\Vgbf XageX _Tf cTegXf Y\e`TagXfr '

+ • • M; CT :bafg\ghV\{a abegXT`Xe\VTaT% `bWX_b dhX \aY_hl{ Xa _bf Vbafg\ghlXagXfTeZXag\abf% ab XkceXfT V_TeT`XagX haT ]he\fW\VV\{a W\e\`XagX Vb`b _TVbagX`c_TWT XaX_TegyVh_b*+0 :E% f\zFdgAX'''%fX_\`\gT T eXZh_TeWXagebWX_T]he\fW\VV\{a be\Z\aTe\T WX_T:begX _Tf VbagebiXef\Tf Xa dhX fXTa cTegX _bf <fgTWbf La\Wbf% l _Tf VbagebiXef\TfXageX Wbf b `wf <fgTWbf% f\fgX`T Taw_bZb T_ ceXi\fgb Xa _bf TegyVh_bf **/ l **0 WX _T:bafg\ghV\{a TeZXag\aT' <a gT_VbaVXcgb%C_E8I<J HL@EK8E8% JXZhaWb Z&$F^M`MP[ PQUZ`Q^\^Q`MOUqZO[Z_ÙàOU[ZMX%+WT XW'%8UX_XWb GXeebg%9hXabf 8\eXf% +))0% K! .( cwZ'+)0% Xag\XaWXdhX _T:TegT abegXT`Xe\VTaT ab Vbag\XaX ha ceXVXcgb fX`X]TagX T_TegyVh_b*+0 :E' J\a XÙTeZb% NI@>?K% ;X\_ J'% CM^M QZ`QZPQ^ XM_ ^QXMOU[ZQ_UZ`Q^SaNQ^ZMYQZ`MXQ_%geTW'WXDTeyT 8agba\XgT EX\eT 9\ZbeeT%La\iXef\WTW WX:b_\`T%DXk\Vb% *220% cwZ' *)/% bUfXeiT dhX T cTeg\e WX_ VTfb FM^NQX%WbaWX _T :begXabegXT`Xe\VTaT W\VgT`\a{ dhX WXagebWX _bf _y`\gXf gXee\gbe\T_XfWX VTWT <fgTWb [TlWbf >bU\Xeabf _\`\gTWbf Xa fh XfYXeT WX TVV\{a cXeb \aWXcXaW\XagXf XageX fy lfhceX`bf WXagebWXfhf eXfcXVg\iTf XfYXeTf% _T `\f`T :begX ghib dhX VbaiXeg\efX XaweU\gebcTeT fhcXeTe _Tf W\YXeXaV\TfXageXXfTf XfYXeTf \aWXcXaW\XagXf' <a XfX fXag\Wb%[T fbfgXa\Wb dhX3 o_bf `xgbWbf geTW\V\baT_Xf WX dhX W\fcbayT ha fbUXeTab cTeT X_TeeXZ_b WX XfTf W\fchgTf XeTa _T W\c_b`TV\T l _T ZhXeeTr% XagXaW\XaWb dhX _bfcebVXW\`\Xagbf ]hW\V\T_Xf TagX XfT :begX fX W\fchf\Xeba Vb`b haT T_gXeaTg\iT%VbaY':Q[^SUM b' CQZZ_eXbMZUMI' :b' #*2-.$% ,+- L'J' -,2' '

./5

clZ_X( \j è\cl[`Yc\ hl\ \c @jkX[f Zfejk`klpX •i^Xefj \eZXi^X[fj [\\oXdèXi cXjgi\k\ej`fe\j hl\ lef \jî`d\ ]i\ek\ Xfkif( i\Zf^`\e[f l

XZklXe[f \e jl ZXjf cXhl\ j\X Zfe]fid\ Xcfi[\eXd`\ekf ali}[`Zf+>fej\Zl\ek\d\ek\( lef [\ cfj Zfd\k`[fj \o`jk\eZ`Xc\j [\ cXZfe]fidX*Z`•e \jkXkXc \j cXi\jfclZ`•e [\ Zfe]c`Zkfj 27.+

N\e`\e[f \jkf gi\j\ek\( \j ZcXif hl\ cX Zfe]`^liXZ`•e [\ lej`jk\dX \jkXkXcZfdgl\jkf f ]\[\iXc `dgfikX cXe\Z\j`[X[ [\ leX efidXZfdf cXgi\m`jkX \e \c i\]\i`[f Xik}Zlcf ./4 >H+ FX _`jkfi`X Xi^\ekèXhl\ Zfecc\m• Xcg\i`f[f [\ Zfe]fidXZ`•e [\c @jkX[f ]\[\iXc \jk{ j`êX[Xgfi Zil\ekXj clZ_Xj gXiX [ì`dì cX [`jki`YlZ`•e [\c gf[\i \eki\JifmèZ`Xj ^fY\ieX[Xj gfi ZXl[`ccfj( cf hl\ \o`^`• XcZfejk`klp\ek\ cXgi\m`j`•e [\ le d\ZXe`jdf \]`ZXq [\ jfclZ`•e [\ Zfekifm\ij`Xj \eki\cfj @jkX[fj ]\[\iX[fj gi\\o`jk\ek\j( Xj\^liXe[f hl\ \e [\]è`k`mX \cgifp\Zkf eXZ`feXc j\ Zfejfc`[XiX \]\Zk`mXd\ek\ Zfdf leX YRMhRMRHIWXVYGXMFPIHI 5WXEHSWMRHIWXVYGEFPIW&

@jkXZfe]`^liXZ`•e [\ cX>fejk`klZ`•e HXZ`feXc(Zfe ]l\ik\ XZ\ekf\e cXgXZ`]`ZXZ`•e [\ cXj clZ_Xj èk\jkèXj( \j j\^liXd\ek\ jlg\iX[Xgfi cXi\Xc`[X[ XZklXc(jld`[X \e le @jkX[f [\ ?\i\Z_f hl\ \oZclp\\e cXi\^lcXi`[X[ [\ cXj ZìZlejkXeZ`Xj XZkfj hl\ gl\[Xe Zfejk`klìu^l\iiX X fkiX JifmèZ`Xw f uèmXj`•e [\ fkiX JifmèZ`Xw( Xjg\Zkf hl\pX ]l\ fYj\imX[f gfi <BOMNyH ?@ P@?D<21 p GIHN@M ?@ I>U22XgièZ`g`fj [\c j`^cf QQ+

20 J8ID@<EKF >8I:y8% AbeZX #W\e'$Xg T_%7Q^QOT[ CrNXUO[%:\hWTW 8eZXag\aT%9hXabf 8\eXf% *220% cwZ' -,'

2%;< M<;@8% 8Zhfg\a% 6[Z_ÙàOUqZ 4^SQZÙZM%@`ceXagT :ba\ ?abf'% 9hXabf8\eXf% *2)0% cwZ' .00% T_ Vb`XagTe X_ XagbaVXf Teg\Vh_b *)2 :E WX *1.,(/) #TVghT_TegyVh_b*+0 :E$% XkceXfTUT dhX3 oE\aZhaT bU]XV\{a [T fhfV\gTWb X_TegyVh_bl gT`cbVb[T f\Wb aXVXfTe\b \aibVTe_b% chXf a\aZhaT Gebi\aV\T [T \agXagTWb [TVXe _T ZhXeeT TbgeT%WXfWX_TbeZTa\mTV\{a Vbafg\ghV\baT_' Eb [Ta Xk\fg\Wb [bfg\_\WTWXf WX[XV[b XageXX__Tf%a\ [T [TU\Wb ]aQVM_ fb`Xg\WTf cbe gT_VThfT T _T :begX JhceX`T' <_ TegyVh_b*)2ab [T gXa\Wb Tc_\VTV\{a T_ZhaTr' J\a cXe]h\V\b WX _T eXT_\WTWYwVg\VTdhX WXfVe\UX X_']he\fgT dhX V\gT`bf% W\fXag\`bf WX_TTY\e`TV\{a WXdhX ab ghi\XeT Tc_\VTV\{a X_TegyVh_b%Xa VhTagb _TThfXaV\T WX[bfg\_\WTWXf \agXecebi\aV\T_Xf dhX fX XibVT ab Xf `wf dhX X_Vh`c_\`\Xagb WX_\f`b' ~

22 @BAF8E 78 B64% DTahX_% ?QOOU[ZQ_PQ PQ^QOT[ O[Z_ÙàOU[ZMX%C\gbZeTYyT_T 9hXabf 8\eXf% Ki__% 9hXabf 8\eXf% *2*0% cwZ' -..% T_ TaT_\mTeX_ gXkgb WX_TegyVh_b*)2 WX_T :TegT WX *1.,(/) #TVghT_TegyVh_b*+0 :E$ XagXaW\T dhX3 oCTf Gebi\aV\Tf ab[Ta f\Wb XafTaZeXagTWTf cbe XfTf _hV[Tf XkgXeaTf #cbWeyTaWXab`\aTefX Tfy$ WXdhXW\Xeba gTagbf l gTa eXcXg\Wbf X]X`c_bf WheTagX_TZXfgTV\{a WX ahXfgeT aTV\baT_\WTW4_bf `bi\`\Xagbf fXW\V\bfbf bUfXeiTWbf WXfchxf WX _T eXbeZTa\mTV\{a [Ta f\WbT_mT`\Xagbf Xa Te`Tf WXhaT Gebi\aV\T b WXcTegXWXhaT Gebi\aV\T VbageT X_>bU\XeabETV\baT_4 cXeb _Tf _hV[Tf l W\fXaf\baXf WX_Tf Gebi\aV\Tf dhX Xfc\Ta fhf `bi\`\XagbfeXVycebVbf%T VThfT WXVX_bf l WXe\iT_\WTWXf%fX [Ta TVTUTWb Xa i\eghW WX_bW\fchXfgbXa X_Teg\Vh_b*)2!'

./6

,cIk "* A<A <

D@@(@("\Wh*"3*****

Mè\dYXi^[ l &g\jXi [\ cXZ`m`c`[X[hl% _X 9+.%aX[9[`jl\ckXj %&.

\c k`\dgf cXj^l\<XE [\ ZXl[`ccfj( cXj \o`^\eZ`Xj [\ leX F!ocZiX `•e[fe[\ Zf\o`jk\e [`jkèkfj gf[\i\j cfZXc\j [`m\i^\ek\j \e leX le`•e^\e\iXc( `dgc`ZX cXgfj`Y`c`[X[ [\ Zfe]c`Zkfj \eki\ kXc\j Z\ekifj [\^fY`\ief cfZXc(p \eki\ |jkfj p \c ]\[\iXc( j`\e[f gfi \ccf [\ gc\eXXZklXc`[X[\c i|^`d\e [\ jfclZ`•e [\ Zfe]c`Zkfj d\[`Xek\ cXali`j[`ZZ`•e

[ì`d\ek\ [\ cX>fik\ ]\[\iXc+

@e i\cXZ`•e X cX^\jk`•e [\ cfj i\Zlijfj _}[i`Zfj \e Zl\eZXjèk\igifmèZ`Xc\j( \o`jk\ Z`\ikXgi{Zk`ZXali`jgil[\eZ`Xc hl\ _X [ì`d`[fZfe]c`Zkfj jljZ`kX[f \eki\ JifmèZ`Xj Zfe i\jg\Zkf Xcljf [\ cXjX^lXjp jl `dgXZkf \e cfj k\ii`kfi`fj m\Zèfj( gl[`|e[fj\ Z`kXicXZ|c\Yi\ZXljX \eki\ G\e[fqX p FX JXdgX gfi cXjX^lXj [\c i}f <kl\c!( f \cZfe]c`Zkf \eki\ =l\efj <ì\j l MXekXA\ gfi cX \jk`•e [\ cXjX^lXj [\

cXFX^leX FX J`ZXjX%!+

Mè\dYXi^f( ef j\ _Xe gif[lZ`[f _XjkX\c dfd\ekf Zfe]c`Zkfj[ì`d\ek\ j [\ \jki`Zkf Zfik\ XdY`\ekXc\eki\ @jkX[fj gifmèZ`Xc\j+@e\c ?\i\Z_f Xi^\ekèf( Xc`^lXc hl\ \e cX\og\i`\eZ`X [\ fkifj gX}j\j]\[\iXc\j 25( cfj Zfe]c`Zkfj al[`Z`Xc\j èk\i\jkXkXc\j _Xe j`[f ljX[fjgièZ`gXcd\ek\ gXiXkiXkXi[\ gfe\i c}d`k\j XcXZXek`[X[[\ X^lXhl\j\ gl\[\ \okiX\i [\ le i}f gfi cfj @jkX[fj \e Zfe]c`Zkf8p Xlehl\ cXXZk`m`[X[al[`Z`Xc[ì`d\ek\ j\ gf[i}X Xgc`ZXiX Zl\jk`fe\j [`]\i\ek\j[\ cXXj`êXZ`•e [\ ZXek`[X[\j [\ X^lX*Zfdf gf[i}X j\i Xcfj ]clafje\Z\jXi`fj gXiX[`jdèlì cXZfekXdèXZ`•e*( ef j\ _X gif[lZ`[f leX

gi{Zk`ZX\e \jk\ j\ek`[f +

+!Jfj`Yc\d\ek\ \ccf j\ [\YX Xhl\ *Zfdf X[m`\ik\ B@N>C@M26*

ZfcX XZs[X[ cXc`k`^XZ`•e\e i\cXZ`•e XcXgi\j\imXZ`•e XdY`\ekXc%\

23 VbegnceX`T WX Ahfg\V\T WX _T ETV\{a UZ ^Q CT CMY\M% C^[bUZOUMPQ QX@QZP[fM% C^[bUZOUMPQ _XMQOUqZ\[_Q_[ÛM PQ MSaM_ p ^QSaXMOUqZPQ a_[_ #*10/$%

=T__bf ,*)3+-02.":begX JhceX`T WXAhfg\V\T WX _T ETV\{a UZeX 5aQZ[_ 4U^Q_%C^[bUZOUMPQ QX

EMZ`M 9Q C^[bUZOUMPQ #+)))$% =T__bf%,+,3 *100 '25%><K:?<J% ;Ti\W% oIXfb_hV\{a ]he\W\VT WX _bf VbaY_\Vgbf fbUeX TZhTf

geTafYebagXe\mTfXa _bf <fgTWbf La\Wbfr% geTW'cbe 8agba\b <Ù\W @eh]b%Xa <D9@; @ILAF%8agba\b #W\e'$Xg T_%G_Ta\Y\VTV\{a ?\Web_{Z\VT l Gb_yg\VT?\Wewh_\VT#<_ C\Ueb 9_TaVb WX_

TZhT$%:\i\gTf% DTWe\W%*222% cwZ' +0' '.2 8_ eXfcXVgb%Vb`cTeT X_VTfb @UXcMaWQQb' <<RUZ[U_#*20+$%*')/ LJ 2* #fXZha

X_dhX _T_Xl WXha <fgTWb ab WXUXVbageb_Te_TTVg\i\WTWXa bgeb$Vba aÙZ[U_i @U(cMaWQQ#*21*$% -.* LJ ,)- #cTeT X_ dhX _bf eX`XW\bf TWbcgTWbf cbe X_ beWXaT`\XagbVbafhXghW\aTe\b &O[YY[Z XMc& YXWXeT_fbUeX VbagT`\aTV\{a \agXeXfgTgT_ WX TZhTWXi\a\Xeba Xa \aaXVXfTe\bf cbe _Tf ahXiTf abe`Tf XfgTghgTe\Tf YXWXeT_XffbUeX Vbageb_

WX_T VbagT`\aTV\{a$'

*,)

. XZe]f X[f g\%j[ @_( **#"*" J "#"* `mX[\ cXjc\p\j [\ gi\j +imX`•e Xdc``\lkec\e cl^Xi [\ Zfej`[ +iXkj( cXd`jdX \e YXj\ Xcfj gièZ`g` j !Vc+k+ i +c(W3___

cXj i\cXZ`fe\j èkZi\jkXkXc\j( cf hl\ efj i\d`k\ X cXj XZZ` ** "_"\ [&.gi\j\imXZ`•e [\c [\i\Z_f XcXdY`\ek\ p i\Zfdgfj`Z`•e [\c W3_@*b

XdY`\ekXc(Xjg\Zkf hl\ èkif[la`dfj XcXeXc`qXi\c XcZXeZ\[\c XdY` "a\"~

Zfdf Y`\e klk\cX[f( p hl\ gif]le[`qXi\dfj \e \c glekf j`^l`\ek\;%(

Z+Ffj Zfe]c`Zkfj gXiXcXklk\cX[\c [\i\Z_f jlYa\k`mf XcXdY`\ek\ \e Zl\eZXj èk\iali`j[`ZZ`feXc\j

G{j Xcc{[\ cXXZklXZ`•e[\ cXjgifmèZ`XjgXiXi\^lcXi p ^\jk`fcc7ckjlj Zl\eZXj èk\igifmèZ`Xc\j( pXj\X ZfeZ\ikX[Xd\ek\ \eki\ \ccXj&'W#"dXe\iX [ì`d`[X gfi cX>fik\ Mlgi\dX ]\[\iXc( _\dfj i\]\i`[f XcTaT_\m3*@

\c XcZXeZ\[\c [\i\Z_f XcXdY`\ek\ klk\cX[f \e <i^\ekèX hl\ +`jl*eXZZ`fe\j [\ XdgXif gXiXcXgi\j\imXZ`•e XdY`\ekXc &Xik+10 H'( @

XZZ`fe\j [\ i\Zfdgfj`Z`•e [\c [X~f XdY`\ekXc&Xik+1. >H p F\p /234+ '+

@jkXjXZZ`fe\j( gi\j\ekXe Zfdf jla\kfj c\^`k`dX[fj XZk`mXdZe@X cXj Xlkfi`[X[\j g€Yc`ZXj Zfdg\k\ek\j \e kXcgi\j\imXZ`•e( g\k%'kXdY`|e Xcfj gifg`fj X]\ZkX[fj p XcXjXjfZ`XZ`fe\j l fi^Xe`qXZ`fe jef ^lY\ieXd\ekXc\j hl\ gifg\e[\e \jfj ]è\j+

@e gièZ`g`f( gfi `dg\i`f [\c d`jdf Xik}Zlcf1. >H( p [\c Xik+4[\ cXF\p /2342( cXZfdg\k\eZ`X gXiXi\jfcm\i \jk\ k`gf [\ gifZ\jfj \e\dè\ek\d\ek\ gifmèZ`Xc(Zfe cf hl\ kf[f Zfe]c`Zkf XdY`\ekXc\egièZ`g`f j\ jljkXeZ`XXek\cXdX^`jkiXkliX[\ ZX[XJifmèZ`X+@oZ\gZ`f*eXcd\ek\( cXali`j[`ZZ`•e [\ cXXlkfi`[X[ al[`Z`Xc]\[\iXc j\ XZk`mX\eZl\jk`fe\j hl\ gif[lqZXe `dgXZkf XdY`\ekXc ek\iali`j[`ZZ`feXc( f \e

3- <a XfgX fXag\Wb%eXfT_gT X_ eXV\XagXcebahaV\T`\Xagb WX _T:begX TeZXag\aT UZ^Q ?M CMY\M% C^[bUZOUMPQ QX@QZP[fM%C^[bUZOUMPQ _(MOOUqZ\[_Q_[ÛM PQ MSaM_ p^QSaXMOUqZPQ a_[_ #+))2$% eXfb_hV\{a WX *0 WX`Temb WX+))2% WbaWXfX WXfXfg\`{ X_cXW\WbYbe`h_TWb cbe beZTa\mTV\baXf TÙ\XagT_\fgTf dhX &ceXfXagwaWbfX Vb`b gXeVXebf_\g\fVbafbegXf l Thg{ab`bf& fb_\V\gTUTa _TeXVbaWhVV\{a 'WX_cebVXfb W\e\`XagX VbaV_h\WbXageX_bf <fgTWbf WXDXaWbmT l CT GT`cT Xa *210 [TV\T haT TVV\{a WXeXVb`cbf\V\{aWX_WTzb TÙ\XagT_%c_TagXTWTVb`b ha VbagXa\Wb cebc\b WX_hfb Xdh\gTg\ib l eTmbaTU_XdhX WXUX Xk\fg\e WX _T VhXaVT' KT_ Vb`b TaT_]mT`bf bcbeghaT`XagX% _T TVV\{a WXeXVb`cbf\V\{a TÙ\XagT_ eXfh_gTcebc\T WX_bf cebVXfbf cTeT _TWXYXafTWX_bf WXeXV[bfT_ TÙ\XagX fTab l Xdh\_\UeTWb%_b dhX Xf ha XkgeX`b cXeg\aXagX WX _T ]he\fW\VV\{a]hW\V\T_dhX eXZh_Ta _bf Teg\Vh_Tf -*% -,% **/ P **0 :E' <a X_cebVXfb eXfhX_gb Xa *210%fhfgTaV\TWb \a\V\T_`XagX UT]b _Tf eXZ_Tf WX_TYhaV\{a W\e\`XagX eXZh_TWTcbe X_TegyVh_b*+0 :E% _T:begX XagXaW\{ dhX _b cXg\V\baTWb3 uT+++Vab chXWX XaVbageTe VTU\WTXa XfgTVThfT% Xa i\eghW WX_T`TgXe\T WXVbabV\`\Xagb dhX Y\]Teba bcbeghaT`XagX _Tf cTegXf%lWX_VbafXVhXagX T_VTaVX bU]Xg\ib WX _T fXagXaV\T WX Yf' **+,(*+.* igT'r% _b dhX XaahXfgeT bc\a\{a WX]T XageXiXe _T W\fg\aV\{a cebVXfT_ XageX ha cebVXfb W\e\`XagX &WXfg\aTWb T eXfb_iXe VbaY_\VgbfXageX <fgTWbf& l hab ]hW\V\T_&WXfg\aTWb T TfXZheTe X_Vh`c_\`\Xagb WX_;XeXV[b&'

.0.

@aaÛOai'!)))'))

Xhl\ccfj ZXjfj \e hl\ kXcEli`j[`ZZ`•e \ ii %M'#$_*gU >%cc _"a3 'F@@.( .Gi\jkXek\j gi\m`j`fe\j hsjfYi\ cXj g\ijfeXj( cl^Xi f ...7U. vicXjli^\e[\c Xikf..3 >H&(D+

@e i\cXZ`•e XcXgifk\ZZ`•e p i\Zfdgfj`Z`•e XdY`\ekXc[\ Zl\eZXjèk\iali`j[`ZZ`feXc\j( i\jXckX\c ZXjf jljkXeZ`X[f Xek\ cX>fik\ Mlgi\dX[\ Eljk`Z`X[\ cXHXZ`•e MRVI9IRHS\E$ 2IEXVM\>&XM5WXEHS:EHSREP[ SXWWMHEgSW[ TIXNYMdS7&@e \jk\ gifZ\jf( Zfe [fj [\jkXZX[fj gifeleZ`X*d`\ekfj \e \c /--3 p \e \c /--5( cXXlkfi`[X[ al[`Z`Xcef j•cf [`jkè^l`•Zfe ZcXi`[X[\c [X~f XdY`\ekXc[\ cfj [X~fj gXki`dfe`Xc\j è[`m`[lXc\jZXljX[fj gfi leX X]\ZZ`•e XdY`\ekXc*\jkXYc\Z`\e[f jl \oZ\gZ`feXcZfdg\k\eZ`X j•cf jfYi\ Xhl|c* p dfk`m• cX]fidXZ`•e Zfem\eZ`feXc &XkiXm|j [\ cXF\p*>fem\e`f /3.35 [\c @jkX[f A\[\iXc( XcXhl\ X[_`\i\ec\^`jcXk`mXd\ek\X\]\Zkfj [\ [Xi m`^\eZ`XcXJifmèZ`X [\ =l\efj <ì\jp cX>`l[X[ <lk•efdX [\ =l\efj <ì\j' [\ cX<lkfi`[X[ [\ >l\eZXGXkXeqXL`XZ_l\cf( jèf hl\ Zfe[\e• XcXjXlkfi`[X[\j i\jgfejXYc\j Xle gifîXdX [\ i\Zfdgfj`Z`•e [\ cXZl\eZX Xck\iX[X+

LI?LDBO@S M<F<M(Zfe Yi`ccXek\gi\Z`j`•e( fYj\imX hl\ \jk\gifZ\jf _Xm\[X[f cXgfk\jkX[ [`jZi\Z`feXc [\ cfj @jkX[fj cfZXc\j gXiX\a\iZ\i jlj ]leZ`fe\j gfc`Z`Xc\j[\ df[f èZfdgXk`Yc\ Zfe cXj XiXek}Xj(gièZ`g`fj p [\i\Z_fj klk\cX[fj Zfejk`klZ`feXcd\ek\%!( Zfej`[\iXZ`•ehl\ `dgfikX \eki\cXqXicXfYc`^XZ`•e[\ gifk\^\i p Zfej\imXi \c XdY`\ek\[\ cXjZl\eZXj èk\iali`j[`ZZ`feXc\j hl\ cfj @jkX[fj gifmèZ`Xc\j [\Y\ejXk`j]XZ\i(Zfe cXgfj`Y`c`[X[ [\ cfj Z`l[X[Xefj [\ èjkXi cXgifk\ZZ`•e[\ kXcXdY`\ek\ X kiXm|j [\ cXklk\cXal[`Z`Xc+

1+>feZclj`fe\j+

Fs L\g€Yc`>Xk<i^\ekèX gi\j\ekX cX \e\iXc`[X[ [\ jlj X^lXj [\ZXi{Zk\i ek\igifmè +`Xc(cf hl\ `dgfikX le Zfe^cfd\iX[f [\ Zfdg\k\e*Z`Xji\cXk`mXjXcX^ jk`•e [\ cXjX^lXj l cXgi\j\imXZ`•e XdY`\ekXc+

< cfj ]è\j [\ Zfej`[\iXi cXZfe]`^liXZ`•e [\ Zfe]c`Zkfj [\eXkliXc\qX XdY`\ekXc( i\jlckX kiXjZ\e[\ek\ \c XcZXeZ\hl\ kXcfYa\kf

3. <J8@E%Abfx% oCT Vb`cXgXaV\T ]hW\V\T_YXWXeT_TÙ\XagT_ Xa eTm{a WX_T`TgXe\Tp WX_Tf cXefbaTf Xa haT fT_hWTU_XW\f\WXaV\T WX_TJhceX`T :begX WX9hXabf 8\eXfr%abgT T YT__bWX _T JhceX`T :begX WX 9hXabf 8\eXf% fXagXaV\T WX_+-()2(+))1 \a eX:^MZPM%4ZUNMXl [`_' M' 8PQXM\J8' IXi\fgT WX;XeXV[b 8Ù\XagT_% 8UX_XWb GXeebg%aF*1' TUe\_&]ha\b+))2% 8UX_XWb GXeebg' 9hXabf 8\eXf% cwZ' ,, P ff'

3/ IF;I@>L<Q J8C8J% 8_Wb%o<_ Y\a WX_YXWXeT_\f`b W\fVeXV\baT_r%abgT T YT__bWX _T :begX JhceX`T WX Ahfg\V\T WX _T ETV\{a UZeX @QZP[fM 5QM`ÛfJ' Q(8_`MP[AMOU[ZMX[ [`_ _(PMp[_ [ \Q^VaUOU[_%fXagXaV\T WX )1()0()1% IXi\fgT WX ;XeXV[b8Ù\XagT_% 8UX_XWb GXeebg%a7 */% bVghUeX&W\V\XÙeX +))1% 8UX_XWb GXeeb %9hXabf8\eXf% cwZ' 10'

.0/

`Z $2"Y(A%<

gifk\^`[f+ @e \c dXiZf Zfejk`klZ`feXc Xi^\esef \c XdY`\ek\ Zsdf Y`\eklkZcX[f \j le \ekfief Xekifg`qX[fj hl\ *M... g\i[\i jlj ZlXc`[X[\j [\jXef l \hl`c`YiX[f* [\Y\ i\jlckXi Xgkf gXiX \c [\jXiifccf _ldXef(g\id`k`\e[f cXjXZklXc\jXZk`m`[X[\jgif[lZk`mXj jè Zfdgifd\k\i cXj

[\ cXj^\e\iXZ`fe\j ]lkliXj+

>fe \ccf kf[f Zfe]c`Zkf XdY`\ekXcj\ Zfejk`klì{ :d{j hl\ jfYi\\c dXek\e`d`\ekf [\ le \ekfief MRREXYVE%\e ]leZ`•e [\ ^XiXek`qXile

XdY`\ek\ _ldXef jXef l \hl`c`YiX[f+

@e \jk\ \jhl\dX [\ klk\cXXdY`\ekXc(cX \e\iXc`[X[ [\ Zfdg\k\e*Z`XjjfYi\ ^\jk`•e [\ cXjX^lXj l gifk\ZZ`•e [\c XdY`\ek\ \j leX \j]\iXgifg`X [\ cXjXlkfi`[X[\j gifmèZ`Xc\j &Xik+./. sH'( cXjhl\ \+e\c ZXjf[\ Zlijfj èk\igifmèZ`Xc\j [\Y\e XZklXiZffi[èX[Xd\ek\( èZcljf XkiXm|j [\ d\ZXe`jdfj Zfem\eZ`feXc\j gi\m`jkfj \e \c Xikf ./1 >H(gl[`\e[f XZl[ì XcXali`j[`ZZ`•e [ì`d\ek\ [\ cX>fik\ ]\[\iXc \e ZXjf

[\ [\jXZl\i[f+

Mè g\ial`Z`f [\ kf[f \ccf( \c [\i\Z_f XcXdY`\ek\ klk\cX[fZfejk`klZ`feXcd\ek\ _XY`c`kXXkf[f X]\ZkX[f Xi\Zliiì XcXm}Xali`j[`Z*Z`feXc gXiX èjkXi cXklk\cX [\ jl [\i\Z_f( j\X gXiX cXgi\m\eZ`•e fZ\jXZ`•e [\ leX XZk`m`[X[[\k\i`fiXik\ [\c \ekfief( f j\X gXiXi\Zfd*

gfe\i \c XdY`\ek\ XcWXEXYWUYSXek\i`fi Xle d\efjZXYf+

FX ZXjl}jk`ZXdl\jkiX hl\ \j leX gi{Zk`ZX_XY`klXccX\o`jk\eZ`X[\ XZZ`fe\j l Zfem\e`fj èk\igifmèZ`Xc\j hl\ \eZXlqXe d\[`[Xj [\gi\j\imXZ`•e l ^\jk`•e XdY`\ekXc\e cfj Zlijfj [\ X^lXj èk\+iali`j[`ZZ`f*eXc\j+ Mè \dYXi^f( \e Xhl\ccfj ZXjfj \e hl\ kXc\j XZZ`fe\j ef j\gif[lZ\e( cfj X]\ZkX[fj _Xe gf[`[f \o`^ì ali`j[`ZZ`feXcd\ek\ cXklk\cX[\c XdY`\ek\ X]\ZkX[f \e jXcmX^lXi[X[\c [\i\Z_f XcXdY`\ek\ hl\

gifk\^\ \c Xikf1. \H+

.00

pinto rfc109 los conflictos ambientales

Documents