TEST DRIVE THE RX SERIES

TEST DRIVE
THE RX
SERIES
We hope to have conveyed in these pages
that the RX Series offers a uniquely refined
and dynamic driving experience. But there's
only one way to truly feel the driving
pleasure it offers - and that's to get behind
the wheel and try it for yourself. So please
visit your local Lexus Centre to arrange a
test drive.
For more information and the location of
your local Lexus Centre, please visit our
website: www.lexus.co.uk or call
0845 278 8888.
Lexus (GB) Ltd
PO Box 32542
Chiswick
London
W4 5XN
Tel: 0845 278 8888
[email protected]
End-of-life vehicles
Taking care of the environment is a priority for
Lexus. We're making a huge effort to ensure that
during the life cycle of our vehicles - from design,
production, distribution, sales and service to
end-of-life - their environmental impact is
minimised.
You can find detailed information on
environmental performance at www.lexus.co.uk.
Please note: while every effort is made to
reproduce accurate information, we reserve the
right to change specifications, equipment and
availability without prior notice. The brochure
cannot be regarded as infallible (the vehicle
shown is left-hand drive) and as such does not
constitute an offer for sale of the particular
vehicle shown.
THE LEXUS
RX SERIES
:+((/6
7+(38568,7
2)3(5)(&7,21
7KH5;LVILWWHGZLWKLQFKDOOR\ZKHHOVDVVWDQGDUG
ZKLOHLQFKDOOR\ZKHHOVDUHVWDQGDUGRQWKH5;6(
DQG5;6(/
j:HZLOODOZD\VVWULYHWREXLOGWKHEHVWOX[XU\FDUVLQWKHZRUOGj
5;KPRGHOVKDYHWKHLURZQGLVWLQFWLYHLQFKZKHHOV
7$.(6+,<26+,'$0$1$*,1*2)),&(5/(;86',9,6,21
DVVWDQGDUG1
7KHIXQGDPHQWDOJXLGLQJSULQFLSOHIRU/H[XVLVWKHSXUVXLWRISHUIHFWLRQ
2XUDLPLVWRSURYLGHRXUFXVWRPHUVZLWKZRUOGFODVVFDUVDQG
ZRUOGFODVVFXVWRPHUVHUYLFHDQGZHDUHGHHSO\FRPPLWWHGWRILQGLQJ
EHWWHUZD\VRIDFKLHYLQJWKLV:HXVHWHFKQRORJ\DQGLQVLJKWWRLQQRYDWH
y632.($//2<:+((/5;
WRUHILQHDQGWRSXVKERXQGDULHV:HDOVRVWULYHWRSHUIHFWRXU
UHODWLRQVKLSZLWKRXUFXVWRPHUVFRQVWDQWO\VHHNLQJDGHHSHU
XQGHUVWDQGLQJRIWKHLUQHHGV
y632.($//2<:+((/5;6(DQG5;6(/
y632.($//2<:+((/5;K
8E<N
JK8E;8I;
K_\IOJ\i`\jd\Xejpfle\\[efcfe^\iZ_ffj\Y\kn\\ek_\i\]`e\d\ekf]XclolipZXi
Xe[k_\g\i]fidXeZ\f]XJgfikjLk`c`kpM\_`Zc\JLM %K_\IO[\c`m\ij`kXccÇ`eXdXee\ik_Xk
Y\]`kjXC\olj#]ifdk_\jkpc`j_XiZ_`k\Zkli\f]k_\ZXY`ekfk_\Zfekifcc\[gfn\if]k_\\e^`e\%
:fem\e`\eZ\Xe[jX]\kp^f_Xe[`e_Xe[`ek_\IO%K_\]fli$n_\\c$[i`m\jpjk\d`ek_\
IO+''_#]fi`ejkXeZ\#`jYXZb\[Yp`ek\cc`^\ekjkXY`c`kpXe[YiXb`e^X`[j%K_\M\_`Zc\;peXd`Zj
@ek\^iXk\[DXeX^\d\ekM;@D jpjk\d^Xk_\ijk_\j\jX]\kp]\Xkli\j`ekfXk_`eb`e^le`k
k_Xkgi\$\dgkj[`]]`Zlckj`klXk`fej%?fn\m\i#j_flc[jlZ_Xj`klXk`feXi`j\#k_\i\`jnfic[$ZcXjj
gXjj\e^\igifk\Zk`fe#`eZcl[`e^Y\jgfb\X`iYX^jpjk\dj#`egcXZ\%8cjfXmX`cXYc\Xi\k_fj\
]\Xkli\jk_XkdXb\fne`e^XC\oljXcck_\dfi\i\nXi[`e^#jlZ_Xjk_\fgk`feXckflZ_$jZi\\e
;M;$YXj\[eXm`^Xk`fejpjk\d#ZXd\iX$Xjj`jk\[i\m\ij`e^Xe[DXibC\m`ejfežI\]\i\eZ\
Jliifle[Jfle[Xl[`fjpjk\d%
@ejk`eZk`m\i\jgfej\jXi\Z_XiXZk\i`jk`Zf]j\m\iXc]\Xkli\j`ek_\IOJ\i`\j%?`^_`ek\ej`kp
[`jZ_Xi^\?@; _\X[c`^_kjk_Xkjn`kZ_feXlkfdXk`ZXccp`egffim`j`Y`c`kp#Xe[k_\X[mXeZ\[
kiXejd`jj`fefek_\IO*,'#n_`Z_kX`cfij^\Xij_`]kjkfjl`kk_\k\iiX`eXe[[i`m`e^jkpc\#Xi\
aljkknf\oXdgc\j%
8mX`cXYc\n`k_\`k_\iXjkXk\$f]$k_\$Xik_pYi`[gfn\ikiX`efek_\IO+''_#fiXjdffk_Xe[
i\]`e\[*%,$c`ki\M-g\kifc\e^`e\fek_\IO*,'#k_\IOJ\i`\jZfek`el\jkfj\kk_\jkXe[Xi[
]fik_\clolipJLM%
+
@EEFM8K@FE
8E;<MFCLK@FE
K_\]`ijkIOZi\Xk\[Xe\ek`i\cpe\nZcXjjf]m\_`Zc\n_\e`knXjcXleZ_\[`ek_\LJ8`e(00/%
Lek`ck_\e#k_\`[\Xf]XeJLMn`k_k_\_Xe[c`e^#g\i]fidXeZ\#i\]`e\d\ekXe[Zfd]fikf]X
clolipjXcffenXjaljkk_XkÇXe`[\X%N\_X[k_\Zfem`Zk`fekfdXb\`kXi\Xc`kp%
K_\cXk\jkIO*,'Xe[IO+''_Zfek`el\kf]fi^\Xe\nle[\ijkXe[`e^f]n_Xkkf\og\Zk
]ifdXeJLM%8cfe^Z_Xcc\e^`e^ifX[jk_\IO\e^X^\jc`b\XjgfikpjXcffe#p\k`kXcjf[`jgcXpj
lej_Xb\XYc\Zfdgfjli\fm\idfi\il^^\[k\iiX`e%@kZil`j\j\]]fikc\jjcp#n`k_k_\Zfd]fikpfl
nflc[\og\Zkf]XC\olj%8e[k_\jgXZ`fljZXY`e#n`k_`kjXdY`\eZ\f][`jZi\\k#Zfek\dgfiXip
clolip#gifm`[\jXn_`jg\i$hl`\ki\]l^\]ifdk_\ZcXdflif]k_\nfic[flkj`[\%
P\kk_\clolipf]k_\IO`jdfi\k_XealjkZfdgi\_\ej`m\jg\Z`]`ZXk`fe#X\jk_\k`ZmXcl\j#
[peXd`Zg\i]fidXeZ\fim\ijXk`c`kp%@kËjXcjf\m`[\ek`ek_\m\_`Zc\jZXgXZ`kpkfi\^`jk\ipfli
e\\[jXe[i\jgfe[kfk_\d`ekl`k`m\cp%Jfg_`jk`ZXk\[#lefYkilj`m\k\Z_efcf^pdXb\jc`]\\Xj`\i#
dfi\i\cXo`e^#dfi\i\nXi[`e^%8e[Çjfd\k_`e^k_XkdXkk\ij[\\gcpkfljÇjX]\i%K_`j`j
Zfek\dgfiXipclolipXZZfi[`e^kfC\olj%
8;M8E:<;8<IF;PE8D@:J
8\if[peXd`Z\]]`Z`\eZpYi`e^jdXepX[mXekX^\j#jlZ_Xjhl`\k\iZil`j`e^#\e_XeZ\[]l\c
\]]`Z`\eZpXe[^i\Xk\ijkXY`c`kpXk_`^_jg\\[j%K_XkËjn_pk_\IO`jfe\f]k_\dfjkX\if[peXd`Z
JLMj`ek_\nfic[%
Pfln`ccf]k\e]`e[[peXd`Z[`]]\i\eZ\j`ejlYkc\[\kX`cj#jlZ_Xjk_\jf]kcpifle[\[j_Xg\f]k_\
[ffid`iifij#n_`Z_i\[lZ\jn`e[ef`j\Ypj\m\iXc[\Z`Y\cj#fik_\]clj_jli]XZ\jXifle[k_\
n`e[jZi\\e#`egcXZ\f]Zfem\ek`feXc^lkk\ijk_XkZi\Xk\kliYlc\eZ\Xe[ef`j\%Jfd\k_`e^j#
_fn\m\i#Xi\c\jjc`b\cpkf[iXnXkk\ek`fe%KXb\#]fi`ejkXeZ\#k_\X\if[peXd`Zle[\ikiXpÇX
]\Xkli\dfi\ZfddfecpXjjfZ`Xk\[n`k_=fidlcX(iXZ`e^ZXijÇn_`Z_Zfeki`Ylk\jkfXe
`dgi\jj`m\Zf\]]`Z`\ek[iX^Z[ f]'%**%
<m\en_\e`ek\cc`^\ekX\if[peXd`Z]\Xkli\jXi\efk`dd\[`Xk\cpefk`Z\XYc\#pflZXeXcnXpj
_\Xik_\[`]]\i\eZ\%8\if[peXd`Zj#kf^\k_\in`k_jkiXk\^`Zlj\f]jfle[$XYjfiY`e^dXk\i`XcXe[
Zc\m\i\e^`e\\i`e^#Xi\m`kXckfgi\j\im`e^k_\jXeZklXipf]k_\ZXY`e%
;I@M@E>@EK<CC@><E:<
<m\ipIOZfd\jn`k_`kjfnegligfj\$[\j`^e\[
]fli$n_\\c[i`m\Xe[jljg\ej`fejpjk\d%K_\jg\Z`]`Z
i\hl`i\d\ekjf]Xg\kifcfi_pYi`[\e^`e\Xi\kXb\e
`ekfXZZflek#n`k_dXo`dldjkXY`c`kpXkXcck`d\j%
IO+''_1<$=FLI
KfdXo`d`j\k_\\]]`Z`\eZ`\jf]_pYi`[k\Z_efcf^p#
n\[\m\cfg\[X]fli$n_\\c$[i`m\jpjk\dZXcc\[
<$=FLI%8kZil`j`e^jg\\[j#k_`j`eefmXk`m\jpjk\d
XlkfdXk`ZXccpj_`]kjk_\IO+''_]ifd]fli$n_\\c
kfknf$n_\\c[i`m\]fifgk`dld]l\c\ZfefdpXe[
i\[lZ\[\d`jj`fej%N_\ek_\m\_`Zc\`jjkXik`e^
lg#XZZ\c\iXk`e^#YiXb`e^Xe[jkfgg`e^#Xccn_\\cj
Xi\[i`m\e#b\\g`e^pfl`eZfekifc%JkXY`c`kp`jXcjf
`dgifm\[feZfie\ijXe[Z_Xcc\e^`e^jli]XZ\j
Y\ZXlj\<$=FLIXcnXpjfgk`d`j\jgfn\i
[`jki`Ylk`fe%K_\jpjk\d`j]lccpXlkfdXk`ZXe[nfibj
n`k_k_\<c\Zkife`ZXccp$Zfekifcc\[:fek`elfljcp
MXi`XYc\KiXejd`jj`fe<$:MK kf\ejli\k_\
jdffk_\jkXggc`ZXk`fef]gfn\iXe[dXo`dld
n_\\c^i`g`e\m\ipj`klXk`fe%
/
IO*,'1=FLI$N?<<C;I@M<
K_\IO*,'ZfdY`e\jk_\[i`m`e^Zfd]fikf]X
clolipjXcffen`k_k_\X[[\[kiXZk`feXe[jli\]ffk\[
gf`j\f]g\idXe\ek]fli$n_\\c[i`m\%@eefidXc
[i`m`e^Zfe[`k`fej#gfn\i`jjgc`k\m\ecpY\kn\\e
k_\]ifekXe[i\Xin_\\cj%@]Zfe[`k`fejZ_Xe^\#k_\
YXcXeZ\f]gfn\i`jXlkfdXk`ZXccpX[aljk\[YpXe
`ek\cc`^\ek\c\Zkife`Zgfn\i[`jki`Ylk`fele`k#dXeX^\[
Ypk_\M\_`Zc\JkXY`c`kp:fekifcMJ: jpjk\d%K_\
Xdflekf]gfn\iY\`e^[`i\Zk\[kfXep^`m\en_\\c
ZXeY\i\[`jki`Ylk\[kfk_fj\k_Xke\\[`kdfjk%Glcc
flkf]Xjc`gg\ipaleZk`fe#]fi\oXdgc\#Xe[pfl
ZXeY\jli\k_Xkk_\gfn\in`cc^fkfk_\n_\\cj
n`k_k_\dfjkkiXZk`fe%K_\jg\\[$j\ej`k`m\gfn\i
jk\\i`e^jpjk\dX[aljkjk_\c\m\cjf]Xjj`jkXeZ\Xjpfl
XZZ\c\iXk\#\ejli`e^dXo`dld]\\cXkXcck`d\j%
IO+''_1
C<OLJ?P9I@;;I@M<
8e\e^`e\\i`e^gXiX[foi\jfcm\[
K_\IO+''_dXibjXYfc[Xe[[\Z`j`m\jk\g`ekfk_\]lkli\f]
`ek\cc`^\ekdfkfi`e^%8kcXjk#Xcfe^$jkXe[`e^gXiX[fo_XjY\\ei\jfcm\[%
EfnpflZXe\eafpk_\gc\Xjli\jf]X_`^_$g\i]fidXeZ\clolipJLM
n_`c\Xggi\Z`Xk`e^k_\dXepY\e\]`kjf]]\n\i\d`jj`fej#cfnEf`j\#
M`YiXk`feXe[?Xij_e\jjEM? Xe[^i\Xkcpi\[lZ\[]l\cZfejldgk`fe%
K_\IO+''_gXike\ijXg\kifc\e^`e\n`k_knf\c\Zki`Zdfkfijkf
[\c`m\ij\Xdc\jjgfn\iXe[i\jgfej`m\e\jj%8kk_\_\Xikf]k_\m\_`Zc\
`jk_\`eefmXk`m\jpjk\dZXcc\[C\olj?pYi`[;i`m\#n_`Z_`ek\cc`^\ekcp
Xggc`\jgfn\i]ifdYfk_k_\\e^`e\Xe[k_\\c\Zki`Zdfkfij%8cfe^j`[\
ZcXjj$c\X[`e^]l\cZfejldgk`feXe[cfn\d`jj`fej#C\olj?pYi`[;i`m\
[\c`m\ijXi\dXibXYcpjdffk_#hl`\k[i`m\%
K_\IO+''_`jefk_`e^c\jjk_XeXgXiX[`^dj_`]k%=fid\icpfggfj`e^
]fiZ\jÇ_`^_g\i]fidXeZ\Xe[_`^_\]]`Z`\eZpÇefnnfibXjfe\%
G\i]fidXeZ\
Jpjk\dgfn\i1)-/Y_g)''bN 8ZZ\c\iXk`fe1'$-)dg_
`e.%-j\Zfe[j
DXo%jg\\[1()+dg_
:fdY`e\[]l\cZfejldgk`fe1
*+%0dg^/%(c&(''bd :fdY`e\[:F)\d`jj`fej1
(0)^&bd
IO+''_1
8GGC@<;K?@EB@E>
N_\e`kZXd\kf[\j`^e`e^k_\IO+''_#n\Z_Xe^\[k_\ilc\j%
K_\IO+''_`jle[flYk\[cpgfn\i]lcXe[\]]`Z`\ek%@kËjXcjf`ek\cc`^\ek%=fi\oXdgc\#k_\YXkk\ip
[i`m`e^`kj\c\Zki`Zdfkfij[f\jefke\\[\ok\ieXci\Z_Xi^`e^%K_\m\_`Zc\Z_\Zbj]fifgk`dld
g\i]fidXeZ\#]l\c\]]`Z`\eZpXe[\d`jj`fejXkXccjg\\[j#\`k_\iilee`e^aljkk_\\c\Zki`Zdfkfij#
k_\g\kifc\e^`e\#fiXZfdY`eXk`fef]k_\knf%@ki\ZpZc\j\e\i^p^\e\iXk\[]ifdYiXb`e^%8e[`k
[f\jXcfkdfi\#Xjpfln`cc[`jZfm\i%
K_\^fXcjXi\gfn\iXe[\ZfefdpXe[#f]Zflij\#Y\ZXlj\k_`j`jXC\olj#legXiXcc\c\[
Zfd]fikXe[jX]\kp%N`k_`kjYi\Xbk_ifl^_k\Z_efcf^p#\m\ip]leZk`feXe[Zfdgfe\ek`ek_`j
m\_`Zc\`j[\j`^e\[kfnfib`ejpe\i^p%
K_\IO+''_`ji\dXibXYcphl`\kn_`c\[i`m`e^Xe[giXZk`ZXccpj`c\ekXkcfnjg\\[j#n_\e`k`j
gfn\i\[jfc\cpYpk_\\c\Zki`Zdfkfij%8jpfl^X`ejg\\[#`kXggc`\j`kjgfn\i#i\XZ_`e^-)dg_
`e.%-j\Zfe[j#n_`c\jk`cci\kX`e`e^Xi\Xjjli`e^j\ej\f]YXcXeZ\Xe[gf`j\le[\i\m\ek_\dfjk
[\dXe[`e^Z`iZldjkXeZ\j%N_`c\Zil`j`e^#k_\IO+''_[iXnjgi`dXi`cpfek_\g\kifc\e^`e\%
9lkn_\epfl[\dXe[gfn\i#`k`jXmX`cXYc\Xjk_\g\kifc\e^`e\Xe[\c\Zki`Zdfkfijnfib
kf^\k_\ikfgifm`[\X]cfnf]`dgi\jj`m\cpjdffk_XZZ\c\iXk`fe%
K_ifl^_`ek\cc`^\ekXggc`ZXk`fef]flifneZXi\]lccp[\m\cfg\[_pYi`[k\Z_efcf^p#n\f]]\iXe
lei`mXcc\[[i`m`e^\og\i`\eZ\`ek_\IO+''_%
(*
IO+''_1?FNC<OLJ
?P9I@;;I@M<NFIBJ
8cck_\jpjk\dj`ek_\IO+''_Xi\`ek\cc`^\ekcp
`ek\^iXk\[kfZfejkXekcpdfe`kfiXe[dXeX^\k_\
m\_`Zc\Ëjgfn\ijfliZ\j#\ejli`e^k_\fgk`dld
YXcXeZ\Y\kn\\egfn\iXe[\Zfefdp%
<C<:KIFE@:8CCP$:FEKIFCC<;
:FEK@ELFLJCPM8I@89C<
KI8EJD@JJ@FE<$:MK <$:MK_XjY\\e[\j`^e\[kfdXb\Y\jklj\f]k_\
g\kifc\e^`e\Xe[\c\Zki`Zdfkfij`ek_\IO+''_%
8jpfl[i`m\#<$:MKj\Xdc\jjcpYc\e[jXe`e]`e`k\
eldY\if]^\XiiXk`fjYpZfdY`e`e^gcXe\kXip^\Xij
n`k_XjkXe[Xi[[`]]\i\ek`Xc%K_\i\jlck`jjdffk_
XZZ\c\iXk`feXe[[\Z\c\iXk`fe%Fgk`dld\]]`Z`\eZp
`jXjjli\[#n_Xk\m\ik_\[i`m`e^Zfe[`k`fej#Xjgfn\i
flkglk`jdXkZ_\[kfk_\kiXejd`jj`feXkXcck`d\j%
JK8IK$LG
Le[\iefidXcZfe[`k`fej#fecpk_\\c\Zki`Zdfkfij
Xi\lj\[n_\ek_\m\_`Zc\jkXikj#dfm\jf]]Xe[
kiXm\cjXkcfnjg\\[j%K_`jd\Xejq\if\d`jj`fej#
]fi\oXdgc\#`ejkfg$jkXikkfne[i`m`e^%N_\ek_\
m\_`Zc\XZZ\c\iXk\j#k_\YXkk\i`\jj\e[gfn\ikf
k_\Gfn\i:fekifcLe`kG:L %K_`jk_\ei\[`i\Zkj
gfn\ikfk_\\c\Zki`ZdfkfijXkk_\]ifekXe[i\Xi#
Xccfn`e^k_\IO+''_kfdfm\f]]jdffk_cp`e
]fli$n_\\c$[i`m\df[\%
EFID8C;I@M<:IL@J@E> N_\eZil`j`e^#k_\IO+''_jn`kZ_\jkf\e^`e\$
gfn\i\[]ifek$n_\\c[i`m\%N_\e\okiXgfn\i`j
e\\[\[#k_\]ifek\c\Zki`ZdfkfiXZk`mXk\jn_`c\
XcjfXZk`e^XjX^\e\iXkfik_Xk[i`m\jk_\dfkfi%
Gfn\iXccfZXk`fe`jZXi\]lccpdXeX^\[Xe[n_\e
k_\i\`jXjligclj`kjlj\[kfdX`ekX`e]lccZ_Xi^\
`ek_\YXkk\i`\j%
8::<C<I8K@FE
K_\M-\e^`e\gfn\ijk_\m\_`Zc\XjefidXcYlk#kf
^`m\_`^_XZZ\c\iXk`fe#k_\\c\Zki`Zdfkfijjlggfikk_\
\e^`e\#]fi`ejkXeZ\#n_\epfle\\[kffm\ikXb\%K_\
\e^`e\Xcjfgfn\ijk_\^\e\iXkfi#n_`Z_i\[`i\Zkj
jligcljgfn\ikfk_\G:L%N_\eXZZ\c\iXk`e^#k_\
m\_`Zc\jn`kZ_\jkf<$=FLIXcc$n_\\c$[i`m\df[\%
;<:<C<I8K@FE
B`e\k`Z\e\i^pk_Xknflc[fk_\in`j\Y\cfjk[li`e^
YiXb`e^`jZfem\ik\[`ekf\c\Zki`Z`kp#n_`Z_`eklie`j
j\ekYXZbkfk_\YXkk\i`\j%K_`jd\XejpflËcce\m\i
_Xm\kfnfiipXYflki\Z_Xi^`e^k_\d%=fijX]\
jkfgg`e^gfn\i#k_\IO+''_^f\j`ekfXcc$n_\\c$
[i`m\df[\n_\e[\Z\c\iXk`e^%
8::<C<I8K@FE
;<:<C<I8K@FE
(,
IO+''_1?P9I@;K<:?EFCF>P
=fi\oZ\gk`feXcg\i]fidXeZ\Xe[i\[lZ\[\d`jj`fejk_\IO+''_`ek\cc`^\ekcpZfdY`e\j
X*%*$c`ki\M-g\kifc\e^`e\n`k_knf_`^_$flkglk\c\Zki`Zdfkfij#XeX[mXeZ\[ZfdgXZkYXkk\ip#
Xj\Xdc\jj_pYi`[kiXejd`jj`feXe[XYi\Xbk_ifl^_Gfn\i:fekifcLe`k%
M-<E>@E<
K_\*%*$c`ki\M-\e^`e\`ek_\IO+''_`j`dgi\jj`m\`e`kjfnei`^_k%KfXcXi^\[\^i\\#k_`j
`jk_XebjkfMXi`XYc\MXcm\K`d`e^n`k_`ek\cc`^\eZ\MMK$` #XZfdglk\i$Zfekifcc\[jpjk\d
k_Xk_\cgjk_\\e^`e\Yi\Xk_\n`k_dXo`dld\]]`Z`\eZple[\iXccZfe[`k`fejYpmXip`e^
k_\Xdflekf]X`i`ekXb\%Lec`b\Zfem\ek`feXc\e^`e\j#k_\M-i\hl`i\jefjkXik\idfkfi#
Xck\ieXkfifi[i`m\Y\ck%@ejk\X[#k_\^\e\iXkfidfkfi`ek_\?pYi`[KiXejd`jj`feLe`k`jlj\[
kfjkXikk_\\e^`e\%Efkfecp[f\jk_`jle`hl\]\Xkli\`dgifm\i\jgfej`m\e\jj#`kXcjfdXb\j
k_\M-]Xidfi\]l\c\]]`Z`\ek#n_`c\i\[lZ`e^\d`jj`fej%
?@>?FLKGLK<C<:KI@:DFKFIJ
K_\IO+''__Xjknfgfn\i]lc\c\Zki`Zdfkfij%
8kk_\]ifekXoc\`jX()*bNle`kXe[Xkk_\i\Xi
k_\i\jX,'bNdfkfi%Nfib`e^`eZfealeZk`fe
n`k_k_\M-\e^`e\#k_\j\gifm`[\jdffk_#\]]fikc\jj
gfn\i%Kfihl\`jXcdfjk`ejkXekXe\fljXe[
XZZ\c\iXk`fe`jj\Xdc\jj%@kj\hlXccpgf`j\[n_\e
\Xj`e^f]]k_\k_ifkkc\#kff%
8;M8E:<;:FDG8:K98KK<IP
K_\C\olj?pYi`[;i`m\jpjk\d]\Xkli\jX
_`^_flkglk#e`Zb\c$d\kXc_p[i`[\)//mYXkk\ip#
n_`Z_`jZfejkXekcpi\Z_Xi^\[%K_\YXkk\ip
_XjX[\[`ZXk\[jlggfik[\m`Z\#k_\9Xkk\ip
Dfe`kfi`e^Jpjk\d9DJ #n_`Z__\cgjkf
\ejli\k_XkmfckX^\#Zlii\ekXe[k\dg\iXkli\
Xi\XcnXpjXkk_\`ifgk`dld%@]XepX[aljkd\ekj
Xi\i\hl`i\[#k_\9DJ`e`k`Xk\jk_\Xggifgi`Xk\
i\jgfej\#jlZ_XjXZk`mXk`e^Zffc`e^]Xej%K_\
YXkk\ipdf[lc\j`kje\Xkcple[\ik_\i\Xij\Xkj
jf`ek\i`fijgXZ\`jefkZfdgifd`j\[%
GFN<I:FEKIFCLE@KG:L
K_`j`jk_\YiX`ef]C\olj?pYi`[;i`m\%
@kj\Xdc\jjcpZfekifcjk_\XccfZXk`fef]gfn\i
i\jfliZ\jkf\ejli\fgk`dld\]]`Z`\eZpXkXcc
k`d\j%K_\G:LiX`j\jk_\mfckX^\f]Yfk_
\c\Zki`ZdfkfijXe[k_\^\e\iXkfikfXZ_`\m\
^i\Xk\i\]]`Z`\eZpXe[Zfeki`Ylk\kfk_\
\o_`cXiXk`e^g\i]fidXeZ\%N_\epfle\\[kf
`eZi\Xj\k_\]cfnf]gfn\i#k_\G:LgcXZ\j
k_\ZfdY`e\[]fiZ\f]k_\M-g\kifc\e^`e\
Xe[k_\\c\Zki`ZdfkfijXkpfli[`jgfjXc%8k
fk_\ik`d\jÇn_\eYiXb`e^#]fi\oXdgc\Çk_\
\e\i^pZi\Xk\[`jlj\[kfZ_Xi^\k_\YXkk\ip%
?P9I@;KI8EJD@JJ@FE
K_\C\olj?pYi`[;i`m\jpjk\dj]ifek\c\Zki`Z
dfkfi#^\e\iXkfiXe[gfn\ijgc`kgcXe\kXip
^\Xid\Z_Xe`jdXi\Xcc_flj\[`efe\
c`^_kn\`^_k#_`^_cpZfdgXZkkiXejd`jj`feZXj`e^#
efY`^^\ik_XeXefidXcXlkfdXk`Z^\XiYfo%@e
k_\IO+''_#k_\?pYi`[KiXejd`jj`fe`jk_\
b\pkfk_`jm\_`Zc\j\oZ\gk`feXcg\i]fidXeZ\#
]l\c\]]`Z`\eZpXe[hl`\ke\jj%
IO*,'1JFG?@JK@:8K<;
G<I=FID8E:<
K_\IO*,'\ol[\j[peXd`Zjfg_`jk`ZXk`fe]ifd
\m\ipXe^c\#Xe`dgi\jj`fek_Xk`jfecp_\`^_k\e\[
Ypk_\i\jgfej`m\e\jjf]`kj\e^`e\%
8;M8E:<;GFN<I
K_\)+$mXcm\*%,$c`ki\M-\e^`e\`ek_\IO*,'
[\c`m\ijk_\b`e[f]gfc`j_\[g\i]fidXeZ\k_XkY\]`kj
XclolipJLM]ifdC\olj%K_\k\Z_e`ZXccpX[mXeZ\[
M-`jjdffk_Xe[]l\c\]]`Z`\ek#n_`c\jk`ccf]]\i`e^
[peXd`Zgfk\ek`Xc#n_`jg\i$hl`\kZil`j`e^Xe[gc\ekp
f]cfn$i\mglcc]fikfn`e^Xe[f]]$ifX[lj\%K_\M-
\e^`e\j;lXcMXi`XYc\MXcm\K`d`e^n`k_`ek\cc`^\eZ\
;lXcMMK$` jpjk\d`eZi\Xj\j]l\c\]]`Z`\eZpXe[
_\cgjYffjki\jgfej\c\m\cjXZifjjk_\i\miXe^\
YpmXip`e^k_\X`i$]l\c`ekXb\Xe[\o_XljkmXcm\
k`d`e^kfjl`k[i`m`e^Zfe[`k`fej%
G\i]fidXeZ\
Jpjk\dgfn\i1).)Y_g)'*bN 8ZZ\c\iXk`fe1'$-)dg_
`e.%/j\Zfe[j
DXo%jg\\[1()+dg_
:fdY`e\[]l\cZfejldgk`fe1
),%)dg^((%)c&(''bd :fdY`e\[:F)\d`jj`fej1
)-+^&bd
<C<:KIFE@:8CCP$:FEKIFCC<;
KI8EJD@JJ@FE<:K K_\IO*,'_XjX]`m\$jg\\[XlkfdXk`Z<:K#n_`Z_
[`i\Zkjgfn\ikfXcc]flin_\\cj%8jn\ccXjj\Xdc\jj
]lccpXlkfdXk`Z^\XiZ_Xe^`e^#k_\<:Kf]]\ijk_\
Xck\ieXk`m\f]j\hl\ek`XcdXelXc^\Xij_`]kj%@kXcjf
X[Xgkjkfpfli[i`m`e^jkpc\Xe[ifX[Zfe[`k`fej%K_\
M-\e^`e\Xe[]`m\$jg\\[kiXejd`jj`feZfek`elXccp
ÊkXcbËkf\XZ_fk_\iXe[jfg_`jk`ZXk\[jf]knXi\
Êc\XiejËk_\[i`m\iËjjkpc\%>\XiZ_Xe^\jY\Zfd\
dfi\i\cXo\[n_\epflXi\Zil`j`e^Xk_`^_\i
jg\\[j#Xe[hl`Zb\in_\epflXi\[i`m`e^dfi\
Yi`jbcpfi`ekiX]]`Z%N_\epflËi\[i`m`e^[fne_`cc#k_\
jpjk\d[fneZ_Xe^\jkfgifm`[\\e^`e\YiXb`e^%
8@IJLJG<EJ@FE
K_\IO*,'J<$C_XjX]fli$n_\\cX`ijljg\ej`fe
jpjk\dkf\e_XeZ\Zfd]fik#giXZk`ZXc`kpXe[_Xe[c`e^
Zfekifc%@eefidXc[i`m`e^Zfe[`k`fej#k_\jpjk\d
`e_`Y`kjk_\Yf[pifcck_XkZXeYl`c[lg`eXeJLM#
\jg\Z`Xccpfen`e[`e^ifX[j%@kXcjf_\cgjjdffk_
flkk_\\]]\Zkf]ilkk\[jli]XZ\j#n_`c\k_\[i`m\ijk`cc
dX`ekX`ejX_`^_[\^i\\f]Zfekifc%
8Yfm\-)dg_#k_\X`ijljg\ej`feXlkfdXk`ZXccp
cfn\ijk_\i`[\_\`^_kYp.%,ddkf`dgifm\jkXY`c`kp
Xe[]l\c\]]`Z`\eZp%K_\[i`m\iZXeXcjfZ_Xe^\k_\
_\`^_kdXelXccp#]fi\`k_\i\okiXf]]$ifX[ZXgXY`c`kp
fidfi\[peXd`Z_Xe[c`e^%N_\ek_\\e^`e\`jf]]#
k_\IO*,'ZXeXjjld\Ê8ZZ\jjËdf[\#cfn\i`e^
k_\m\_`Zc\Yp),ddkfdXb\`k\Xj`\ikf\ek\iXe[
c\Xm\k_\ZXY`e%8eXlkfdXk`Zj\c]$c\m\cc`e^]\Xkli\
i\kX`ejk_\m\_`Zc\jfgk`dldYXcXeZ\n_\k_\i
pflXi\[i`m`e^Xcfe\fi_Xm\X]lcccfX[%K_`j`j
gXik`ZlcXicpmXclXYc\]fiZflek\iXZk`e^XkiX`c\iËj
n\`^_kn_\ekfn`e^%
(0
;PE8D@:
J8=<KPK<:?EFCF>P
:fem\ek`feXcc`^_k`e^
@ek\cc`^\ek8[Xgk`m\=ifek$c`^_k`e^Jpjk\d
(,—
8%N`k_98J
9%N`k_flk98J
8%N`k_KI:
9%N`k_flkKI:
8%N`k_MJ:
9%N`k_flkMJ:
,—
9
C\]kKlie
I`^_kKlie
)(
8
8
89J#<9;#98J#KI:Xe[MJ:Xccnfib`e^kf^\k_\i
M<?@:C<;PE8D@:J@EK<>I8K<;
D8E8><D<EKM;@D K_\IO+''_]\Xkli\jjfd\f]k_\dfjk
jfg_`jk`ZXk\[k\Z_efcf^pp\kj\\e`eXep
m\_`Zc\#n_`Z_`jn_pn\_Xm\`eZfigfiXk\[
Xjpjk\dZXcc\[M;@Dkf\ejli\pfl\eafp
k_\\og\i`\eZ\kfk_\]lcc%M;@DgffcjXcck_\
m\_`Zc\jXZk`m\jX]\kpjpjk\djÇk_\8ek`$cfZb
9iXb`e^Jpjk\d89J #<c\Zkife`Z9iXb\]fiZ\
;`jki`Ylk`fe<9; #9iXb\8jj`jkJpjk\d98J #
KiXZk`fe:fekifcKI: #M\_`Zc\JkXY`c`kp
:fekifcMJ: #Xe[<c\Zki`ZGfn\iJk\\i`e^
Ç`ekfXk_`eb`e^le`kk_Xkgi\$\dgkj[`]]`Zlck
j`klXk`fej#i\jlck`e^`eXe\m\ejdffk_\i[i`m\%
9
@EK<CC@><EK8;8GK@M<=IFEK$
C@>?K@E>JPJK<D@$8=J =`kk\[XjjkXe[Xi[fek_\J<Xe[J<$Cdf[\cj#
@$8=JXlkfdXk`ZXccpjn`m\cjk_\_\X[c`^_kjYp
lgkf(,[\^i\\j`ekfXggifXZ_`e^Zfie\ij#
i\m\Xc`e^[\kX`cjk_Xknflc[efkfk_\in`j\Y\
m`j`Yc\%K_\_`^_`ek\ej`kp[`jZ_Xi^\?@; _\X[c`^_kjlj\o\efek\Z_efcf^pkf[\c`m\i
Zi`jgc`^_kXe[Xe\oZ\cc\ek]`\c[f]m`j`fe%8k
k_\i\Xi#c`^_k\d`kk`e^[`f[\C<; YiXb\c`^_kj
[feËkaljkcffb^ff[#k_\pXcjfi\XZk]Xjk\i#
Zfeki`Ylk`e^kffm\iXccjX]\kp%
9
<C<:KIFE@:9I8B<=FI:<
;@JKI@9LK@FE<9; K_\IOJ\i`\j`j\hl`gg\[n`k_Xe8ek`$cfZb
9iXb`e^Jpjk\d89J k_Xkgi\m\ekjk_\
kpi\j]ifdcfZb`e^lg`]pflYiXb\_Xi[fi
\eZflek\iXjc`gg\ipjli]XZ\%N`k_<9;#
k_fl^_#pfl^\kXe\m\ejX]\i#dfi\Zfdgfj\[
]\\c%;\g\e[`e^fek_\[i`m`e^Zfe[`k`fej#<9;
nfibjn`k_89Jkfi\^lcXk\k_\[`jki`Ylk`fef]
YiXb\]fiZ\Y\kn\\ek_\]ifekXe[i\Xi#Xe[
c\]kXe[i`^_kn_\\cj#_\cg`e^kfdX`ekX`e
\]]fikc\jjjkXY`c`kpn_\eZfie\i`e^Xe[YiXb`e^%
K_`jgi\m\ekjn_\\ccfZb#\e_XeZ`e^Zfekifc
Xe[YiXb`e^g\i]fidXeZ\%
8
9
9I8B<8JJ@JKJPJK<D98J K_`j[\m`Z\Zflc[dXb\XZilZ`Xc[`]]\i\eZ\`e
[`]]`ZlckZ`iZldjkXeZ\jYpiX`j`e^pfliYiXb`e^
XY`c`kp%@eXgXe`Zj`klXk`fe#`kjgfjj`Yc\]fiX
[i`m\ikfXggcp`ejl]]`Z`\ek]fiZ\kfk_\YiXb\
g\[Xc%@]k_`j_Xgg\ej#k_\98JXek`Z`gXk\jk_\
e\\[]fi\okiXYiXb\]fiZ\Xe[Xggc`\j`k%
8Zfdglk\ii\Zf^e`j\jk_\j`klXk`feYXj\[fe
`e]fidXk`fe]ifdk_\dXjk\iZpc`e[\igi\jjli\
j\ejfiXe[Xg\[Xcjkifb\j\ejfi%K_\YiXb\
XZklXkfik_\e`eZi\Xj\jk_\n_\\cZpc`e[\i
_p[iXlc`Zgi\jjli\#Xe[_\eZ\#jkfgg`e^gfn\i%
8
KI8:K@FE:FEKIFCKI: KI:dfe`kfijXe[Zfekifcjk_\Xdflekf]
kfihl\#fikn`jk`e^]fiZ\#Xk\XZ_n_\\ckf_\cg
\ejli\jX]\Xe[\]]\Zk`m\gfn\i[\c`m\ip%@]
`k[\k\Zkjk_XkXn_\\c`jjkXik`e^kfjc`gÇfe
Xn\kfidl[[pjli]XZ\#]fi`ejkXeZ\Çk_\
jpjk\dËjJb`[:fekifcZfdglk\i`ejkXekcp
[\k\id`e\jk_\Y\jknXpkfi\jkfi\kiXZk`fekf
k_Xkn_\\c%K_\e`kXlkfdXk`ZXccp[\Zi\Xj\jk_\
kfihl\Y\`e^[\c`m\i\[kfk_\n_\\c#fi`edfi\
\oki\d\ZXj\jXggc`\jk_\YiXb\jfek_Xkn_\\c
dfd\ekXi`cplek`c`ki\^X`ejkiXZk`fe%N_\epfl
e\\[kfXZZ\c\iXk\`ejc`gg\ipZfe[`k`fej#KI:
`jXcnXpjfe_Xe[kf_\cgpfl[fjfj\Zli\cp%
9
M<?@:C<JK89@C@KP:FEKIFCMJ: MJ:XZk`mXk\jn_\e\d\i^\eZpXmf`[XeZ\
dXef\lmi\jXi\i\hl`i\[%=fi`ejkXeZ\#`e
jfd\Z`iZldjkXeZ\j#\ek\i`e^XZfie\iX
c`kkc\kff]XjkXe[Xggcp`e^k_\YiXb\jZflc[
ZXlj\k_\n\`^_kf]k_\m\_`Zc\kfj_`]k]finXi[
Xe[k_\i\Xin_\\cjkfcfj\^i`g%N`k_MJ:#
jkiXk\^`ZXccpgcXZ\[j\ejfijnflc[Xjj\jj
n_XkËj_Xgg\e`e^#i\^`jk\i`e^Yf[pdfm\d\ek#
k_\Xe^c\f]k_\jk\\i`e^n_\\cXe[YiXb\
gi\jjli\#Xe[k_\jpjk\dnflc[k_\e[`jki`Ylk\
k_\gi\Z`j\Xdflekf]YiXb\gi\jjli\e\\[\[
kf_\cgdX`ekX`eXjX]\Zflij\%
8:K@M<I<8JJLI8E:<
K_\IOJ\i`\jZfdY`e\jk_\[i`m`e^Zfd]fikXe[
XZZ\c\iXk`fef]XclolipjXcffen`k_k_\kiXZk`feXe[
gf`j\f]]fli$n_\\c[i`m\%JkXk\$f]$k_\$Xikjpjk\dj
nfibj\Xdc\jjcpkf\ejli\\]]fikc\jj[i`m`e^Xe[X
jdffk_#Zfd]fikXYc\i`[\%
:FDD8E;8E;:FEKIFC
8ZfddXe[`e^#_`^_[i`m`e^gfj`k`fe`jXY`^gXik
f]XeJLMËjgiXZk`ZXcXgg\Xc%@ejfd\#_fn\m\i#k_\
g\eXckp]fik_`j]\Xkli\`ji\[lZ\[jkXY`c`kp%K_\i\`j
efjlZ_Zfjkn`k_k_\IO*,'fiIO+''_#XjYfk_
gifm`[\jlg\iY_Xe[c`e^#gi\Z`j`fejk\\i`e^Xe[_`^_$
jg\\[jkXY`c`kp`eXcdfjk\m\ipj`klXk`fe%K_`j`jdX[\
gfjj`Yc\YpX_fjkf]k\Z_e`ZXcX[mXeZ\d\ekj%=fi
`ejkXeZ\#j_flc[pflYiXb\jl[[\ecp#k_\DXZG_\ijfe
jkilk]ifekjljg\ej`fe^i\Xkcpi\[lZ\jk_\efj\[`m\
\]]\ZkpfldXp\og\i`\eZ\`efk_\im\_`Zc\j%J_fZb
XYjfiY\ijn`k_i\]`e\d\ekjkff`c#j\XcjXe[mXcm\j#
d\Xen_`c\#^`m\Xjdffk_\i#dfi\Zfd]fikXYc\
i`[\%@eX[[`k`fe#k_\IO*,'Xe[IO+''__Xm\X
i\cXk`m\cpjdXccklie`e^Z`iZc\]fiXeJLM#n_`Z_ZXe
Y\f]^i\XkmXcl\Xifle[kfne%
=fidXo`dldjki\e^k_#k_\m\_`Zc\j]ifekXe[i\Xi
jljg\ej`feZfe]`^liXk`fejXi\c`eb\[YpZifjjfm\i
YiXZ\j%K_\j\_\cgkfi\dfm\Yf[p]c\o`e^n_\e
kiXm\cc`e^fele\m\e^ifle[%8efk_\ijk\X[p`e^
\c\d\ek`ek_\IO`jk_\lj\f]e\^Xk`m\ZXdY\i
k\Z_efcf^pkfi\[lZ\Êc\XeË`eY\e[jYpc`d`k`e^k_\
ZXdY\iXe^c\f]k_\flk\in_\\cj%
<C<:KI@:GFN<IJK<<I@E><GJ K_\<GJjpjk\dfek_\IO+''__XjY\\e[\j`^e\[
kf\e_XeZ\k_\]\\c`e^f]`emfcm\d\ekXe[Zfekifc%
<GJlj\jX[mXeZ\[`eglkXe[jk\\i`e^Xe^c\j\ejfij
kf[\k\Zkk_\\oXZkc\m\cf]Xjj`jkXeZ\e\\[\[%@k`j
Xcjfjg\\[$j\ej`k`m\%8kcfn\ijg\\[j#`k]\\cjc`^_k\i
Ç`kkXb\jc\jj\]]fikkf^\kflkf]XgXib`e^jgXZ\#
n`k_c\jj]fiZ\e\\[\[kfkliek_\jk\\i`e^n_\\c%8j
pflXZZ\c\iXk\#`k^\e\iXk\jXgif^i\jj`m\cpdfi\
Êjfc`[Ë]\\c%8j]fik_\\]]`Z`\eZpY\e\]`kj#Zfem\ek`feXc
_p[iXlc`Zjpjk\dji\hl`i\ZfejkXekfg\iXk`fef]k_\
_p[iXlc`Zgldg2<GJ[f\jefk#gfn\i`e^k_\dfkfi
fecpn_\epfle\\[Xjj`jkXeZ\n`k_k_\jk\\i`e^%
N_\ec`kkc\fief_\cg`ji\hl`i\[#Xcdfjkef\e\i^p
`jlj\[%8e[k_Xki\[lZ\j]l\cZfejldgk`fe%
)*
*-'—GIFK<:K@FE
JX]\kp`jfe\f]fli_`^_\jkgi`fi`k`\jXkC\olj#n_`Z_`jn_pn\glk
k_\IOdf[\cjk_ifl^_jlZ_Xi`^fifljj\i`\jf]ZiXj_k\jkj%N\Xcjf
\ogcfi\[Xcc\m\eklXc`k`\jk_ifl^_X[mXeZ\[Zfdglk\idf[\cc`e^%Fli
Êc`m\Ëi\jlckj[\dfejkiXk\[k_\m\_`Zc\jkfY\ZXgXYc\f]n`k_jkXe[`e^
j\m\i\`dgXZkjn`k_fecpd`e`dXc[\]fidXk`fef]k_\jX]\kpZX^\%
<O:<GK@FE8C9F;PI@>@;@KP
Fli[\j`^e\ijXe[\e^`e\\ij_Xm\\ejli\[k_Xkk_\IO`j\oZ\gk`feXccp
jkife^#n`k_Xi`^`[Yf[pj_\ccXe[jkli[p]ifekjlY]iXd\\e_XeZ`e^
_Xe[c`e^Xe[jkXY`c`kp%@dgfikXekcp#jlZ_ZfejkilZk`feXcjf_XjflkjkXe[`e^
`dgXZk$XYjfigk`fehlXc`k`\j%K_\]iXd\`eZfigfiXk\jjkiXk\^`ZXccpgcXZ\[
Zildgc\qfe\jk_XkXYjfiY`dgXZk\e\i^pXe[_\cgd`e`d`j\[\]fidXk`fe
f]k_\ZXY`ejjX]\kpZX^\%
@ecfn$jg\\[XZZ`[\ekj#k_\]`ijk[\]\eZ\`jXm\_`Zc\j]ifekYldg\i%K_Xkj
n_pk_\IO_XjX]lcc$n`[k_#[\\gYldg\ik_Xkn`ccXYjfiYXd`efi`dgXZk
n`k_flkZiXZb`e^fi[\]fid`e^%@]k_\i\jXi\XiZfcc`j`fe#i\`e]fiZ\[i\Xi
]cffid\dY\ijjlggi\jjYf[p[`jkfik`fe%
8;M8E:<;G8JJ<E><IGIFK<:K@FE
J\ejfi$Zfekifcc\[]ifekX`iYX^jZXei\^`jk\ik_\`ek\ej`kpf]`dgXZk#
k_\j\Xkgfj`k`feXe[n_\k_\ifiefkj\XkY\ckjXi\]Xjk\e\[#Xe[i\XZk
XZZfi[`e^cp%;lXc$g_Xj\`e]cXk`fe_\cgji\[lZ\k_\Z_XeZ\f]`dgXZk
`eali`\j%@ek_\j`[\jf]k_\ZXY`e#K_fiXo#8Y[fd\eXe[G\cm`jK8G X`iYX^jXi\[\j`^e\[kfgifk\Zkjfd\f]k_\dfjkmlce\iXYc\Xi\Xjf]k_\
_ldXeYf[p%K_\pXi\cfZXk\[n`k_`ek_\j\Xkj#iXk_\ik_Xek_\[ffij#jf
k_\pXi\XcnXpj`ek_\`[\Xcgfj`k`fekfgifk\Zkpfl#i\^Xi[c\jjf]_fn\m\i
]XiYXZbfi]finXi[pflXi\j\Xk\[%K_\JIJZlikX`ej_`\c[X`iYX^jpjk\d
gifm`[\jp\k]lik_\icXk\iXcj\Zli`kp#gifk\Zk`e^k_\_\X[jf]XccfZZlgXekj
j_flc[k_\i\Y\Xj`[\$feZfcc`j`fe%8e[IOdf[\cjXi\k_\fecpm\_`Zc\j
`ek_\`iZcXjjkfgifk\Zkk_\d`[$kf$cfn\ic\^Xi\Xn`k_X[i`m\iËjj`[\
be\\YX^%
N?@GC8J?@EALIPC<JJ<E@E>N@C J<8KJ
8cck_\X`iYX^jfg\iXk\Xcfe^j`[\j\XkY\ckjn`k_gi\$k\ej`fe\ij#n_`Z_
`ejkXekcpi\jkiX`ek_\Yf[p`ek_\\m\ekf]Xe`dgXZk#Xe[N_`gcXj_@ealip
C\jj\e`e^N@C j\Xkj%K_\j\j\Xkj`eZfigfiXk\Xe`eefmXk`m\_\X[i\jk
Xe[j\XkYXZbk_Xkn`cc[\Zi\Xj\e\Zbdfk`fe`eXZfcc`j`fe%Jf`]pfl[f
jl]]\iXi\Xi\e[Zfcc`j`fe#k_\j\Xkn`ccXYjfiY\e\i^pkfd`e`d`j\k_\
n_`gcXj_$`e[lZ`e^dfm\d\ekY\kn\\epfli_\X[Xe[kfijf%
LE:FDGIFD@J<;J<:LI@KP
K_\IO`j\e^`e\\i\[kfi\j`jkleXlk_fi`j\[\ekip%K_\i\dfk\Zfekifc
Z\ekiXccfZb`e^jpjk\dn`cc[flYc\$cfZbk_\[ffij#jf\m\e`]jfd\fe\
n\i\kfYi\Xbk_ifl^_k_\^cXjj#k_\pnflc[jk`ccefkY\XYc\kflecfZb
k_\[ffijn`k_flkk_\b\p%9fk_df[\cjXcjf\dgcfpXjfg_`jk`ZXk\[
`ddfY`c`j\iXe[XcXidjpjk\d%
GI<D@LD
8:FLJK@:J
N_\k_\i`kËjkfZfdgc\d\ekk_\j\ejfipgc\Xjli\jf]k_\IOZXY`efikfgifm`[\X
_`^_$g\i]fidXeZ\YXZb`e^kiXZb#k_\jfle[jpjk\dZXe[\c`m\i\oXZkcpn_XkËji\hl`i\[%
=fipfliZfd]fikXe[Zfem\e`\eZ\#Xl[`fZfekifcjXi\dflek\[fek_\jk\\i`e^n_\\c%
8efgk`feXcDlck`d\[`XXe[EXm`^Xk`fegXZbX^\`jXcjfXmX`cXYc\%
K_\jkXe[Xi[Xl[`fjpjk\df]Yfk_m\_`Zc\jZfdgi`j\jXe`e$[Xj_j`o$:;Z_Xe^\i
Xe[I;JiX[`f#n`k_\`^_kjkiXk\^`ZXccpgcXZ\[jg\Xb\ij`eZcl[`e^gfn\i]lcnff]\ij]fi
i`Z_YXjji\gif[lZk`fe%
D8IBC<M@EJFEžI<=<I<E:<JLIIFLE;JFLE;8L;@FJPJK<D
=fik_\lck`dXk\Xl[`f\og\i`\eZ\#k_\IOf]]\ijk_\fggfikle`kpkflg^iX[\kfk_\DXib
C\m`ejfežI\]\i\eZ\Jliifle[Jfle[Xl[`fjpjk\d%DXibC\m`ejfež`jfe\f]k_\nfic[Ëj
c\X[`e^Xl[`f\og\ikj`ek_\]`\c[f]_`^_$\e[_`$]`%
Jfle[Zfd\j]ifd((jg\Xb\ijm`XX)+'$nXkkjpjk\dk_Xk[\c`m\iji`Z_#gfn\i]lcXe[
gli\jfle[n`k_Xd\i\'%'(kfkXc_Xidfe`Z[`jkfik`feXk]lcc)'?qkf)'b?qYXe[n`[k_%
;M;jZXeXcjfY\gcXp\[m`Xk_\`e$[Xj_j`o$;M;jpjk\d%
K_`jjpjk\dZfd\jXjXefgk`fefek_\IO*,'J<fiIO+''_J<#Xe[XjjkXe[Xi[
fek_\IO*,'J<$CfiIO+''_J<$C%
).
8;M8E:<;
E8M@>8K@FEJPJK<D
8;M;$YXj\[eXm`^Xk`fejpjk\d`jXmX`cXYc\
n`k_k_\IOJ\i`\jXjgXikf]k_\Dlck`d\[`X
Xe[EXm`^Xk`fegXZbX^\fgk`fe%8ZZ\jj\[
k_ifl^_k_\<c\ZkifDlck`$M`j`fe<DM M>8
[`jgcXp#k_\jpjk\d`jfe\f]k_\dfjkX[mXeZ\[
Xe[lj\i$]i`\e[cpXmX`cXYc\%@kjlgkfj\m\e
k`d\jhl`Zb\ik_XedXepZfem\ek`feXcjpjk\dj#
Z\ikX`e]\Xkli\jZXeY\mf`Z\$XZk`mXk\[Xe[`k
]\Xkli\jX[lXc$dXg[`jgcXpÇcXi^\jZXc\Xe[
jdXccjZXc\%PflZXek\cc`kn_\i\pflnXekkf
^fYpX[[i\jj#jkfi\[[\jk`eXk`fejfigf`ekjf]
`ek\i\jk%@kZXe\m\eX[m`j\pfln_\i\kf]`e[
k_\e\Xi\jkg\kifcjkXk`fe%K_\jpjk\dZXcZlcXk\j
_fnjffepflZXe\og\Zkkf^\kkfpfli
[\jk`eXk`feXe[ZXef]]\iXmXi`\kpf]iflk\j
YXj\[fek_\j_fik\jk[`jkXeZ\fiaflie\pk`d\%
@eXi\Xjn_\i\;peXd`ZIflk\>l`[XeZ\
;I> !`jXmX`cXYc\#k_\eXm`^Xk`fele`k`j
ZfejkXekcplg[Xk\[fekiX]]`Z[\cXpjXe[
ZXejl^^\jkXeXck\ieXk`m\iflk\%K_\;M;
[XkXYXj\XcjfZfekX`ejX<lifg\$n`[\^l`[\kf
_fk\cj#j_fgg`e^Xi\XjXe[kfli`jkZ\eki\j%
G8IB@E>8JJ@JKDFE@KFI
K_\IO`ekif[lZ\[XZcXjj]`ijkn`k_k_`jjpjk\d#
n_`Z_`jfgk`feXcfeJ<df[\cjXe[jkXe[Xi[
feJ<$Cdf[\cj%Fg\iXk`e^k_ifl^_k_\<DM
M>8[`jgcXp#k_\GXib`e^8jj`jkDfe`kfi
]\Xkli\jXm`[\fZXd\iXdflek\[`ek_\i\Xi
eldY\igcXk\k_Xkgifa\ZkjX]lcc$Zfcflii\Xim`\n
f]k_\jliifle[`e^j%<m\e^i\Xk\iXZZliXZp`j
gifm`[\[Ypfe$jZi\\e^l`[\c`e\j%
MF@:<8:K@M8K@FE
=fipflijX]\kpXe[Zfem\e`\eZ\#k_\
Dlck`d\[`XXe[EXm`^Xk`fegXZbX^\`j
\hl`gg\[n`k_mf`Z\$XZk`mXk\[Zfekifcf]k_\
eXm`^Xk`fe#Xl[`f#X`i$Zfe[`k`fe`e^Xe[g_fe\
jpjk\dj%K_\i\`jXefe$jZi\\e?\cgYlkkfe
j_flc[pfle\\[Xep`ejkilZk`fej%
9CL<KFFK?ž:FEE<:K@M@KP
K_\9cl\kffk_žg_fe\jpjk\dXccfnjk_\
lj\ikfdXb\Xe[i\Z\`m\_Xe[j$]i\\dfY`c\
g_fe\ZXccj\`k_\iYpfg\iXk`e^k_\<DMM>8
[`jgcXp#k_\jk\\i`e^n_\\c$dflek\[jn`kZ_\j
fik_ifl^_mf`Z\ZfddXe[%8lj\]lc\okiX
]\Xkli\f]k_\jpjk\d`jk_Xk`kZXejkfi\Xcc
k_\ZfekXZkeldY\ij]ifdXdfY`c\g_fe\
fiG;8J@DZXi[%!!
!;I>`jXmX`cXYc\`eXi\Xjlj`e^k_\I;JiX[`fjpjk\d%K_\KiX]]`Z
D\jjX^`e^:_Xee\cn`cck_\e\eXYc\k_\lj\f];I>%
!!:fekXZkpflicfZXcC\olj:\eki\]fi[\kX`cjf]g_fe\
ZfdgXk`Y`c`kp%
8N<C:FD<=<<C@E>
K_\i\ËjXnfic[f]Zfd]fik`ej`[\k_\IOÇXe[`kËjXjgiXZk`ZXcXj`k`j
gc\Xj`e^kfk_\j\ej\j%=`ijk`dgi\jj`fejdXpY\k_\XifdXf]_`^_$^iX[\
c\Xk_\iXe[Xi\cXo`e^j\ej\f]jgXZ\Xe[ZXcd%K_\e#XjpflY\Zfd\
dfi\XZhlX`ek\[n`k_k_\IO#`kji\dXibXYc\m\ijXk`c`kpY\Zfd\jdfi\
XggXi\ek%DXepf]k_\j\`eefmXk`fej#f]Zflij\#Xi\jkXe[Xi[]\Xkli\j%
N<C:FD@E>C@>?KJ
8ke`^_k#k_\IOc`^_kjpfligXk_]ifdk_\[Xibe\jjflkj`[\kfk_\
nXidcpc`kjXeZklXipf]k_\ZXY`e%8jpfle\Xik_\m\_`Zc\#k_\b\p$
`ek\^iXk\[i\dfk\ZfekifcZ\ekiXc$cfZb`e^jpjk\dlecfZbjk_\[ffij
Xkk_\gi\jjf]XYlkkfeXe[c`^_kj`ccld`eXk\k_\[ffi_Xe[c\j#jZl]]
gcXk\jXe[]ffkn\ccj%@ej`[\#XlkfdXk`ZXe[`e[`m`[lXccpXZk`mXk\[c`^_k`e^
_\`^_k\ejk_\XdY`\eZ\Xe[giXZk`ZXc`kpf]k_\m\_`Zc\%
GFN<I<;J<8KJ
=fikfkXc\Xj\fe\m\ek_\cfe^\jkki`gj#\c\Zki`ZXccp$X[aljkXYc\]ifekj\Xkj
Xccfn[i`m\ijkfkX`cfik_\`idfjkZfd]fikXYc\Zfe]`^liXk`fe%FeJ<Xe[
J<$Cdf[\cj#k_\]ifekj\XkjXcjff]]\icldYXijlggfikXe[K_\idXc
:fekifc:_`gK:: _\Xk`e^#n`k_[Xj_$dflek\[Zfekifcj#]fiXiXg`[
nXid$lgfe]ifjkpdfie`e^j%
=FC;@E>J<8KFGK@FEJ
8cck_\gc\Xjli\Xe[k_\giXZk`ZXc`k`\jn`k_flkXepZfdgifd`j\j%PflËcc
]`e[k_`jflkn_\epfl\ogcfi\k_\dXepj\Xk`e^Zfe]`^liXk`fejf]]\i\[
Ypk_\IO%FeJ<Xe[J<$Cdf[\cj#k_\k_i\\i\Xij\XkYXZbjÇknf
n`[\flk\ife\jXe[XeXiifn\ife\`ek_\Z\eki\ÇZXe]fc[[fne
`e[\g\e[\ekcpfikf^\k_\ikff]]\iXn`[\mXi`\kpf]cl^^X^\jkfiX^\
fgk`fej%N`k_Xcck_\YXZbj\Xkj]fc[\[[fne#k_\i\ËjiffdkfZXiipcXi^\
cfX[j#Xe[n`k_k_\Z\ekiXcj\Zk`fecfn\i\[#]`j_`e^if[jfijb`jZXe
\ok\e[k_ifl^_]ifdk_\cl^^X^\ZfdgXikd\ek%CXpfe\f]k_\n`[\i
j\XkYXZbj[fneXe[\m\eXnbnXi[j_Xg\jZXeY\jkfi\[%
GFN<IK8@C>8K<
K_\kX`c^Xk\fek_\J<Xe[J<$Cdf[\cjfg\ejXe[Zcfj\jXkk_\gi\jj
f]Xb\pYlkkfe%@]jfd\k_`e^j_flc[YcfZb`kjgXk_#k_\kX`c^Xk\n`cci\m\ij\
jc`^_kcpkfi\c`\m\Xepgi\jjli\Xe[XnXie`e^n`ccjfle[%8e[Y\ZXlj\
j\Zli`kp`j`dgfikXek#k_\cl^^X^\Xi\X_XjXkfee\XlZfm\ikfb\\gpfli
Y\cfe^`e^jflkf]j`^_k1j`dgcpfg\ek_\kX`c^Xk\Xe[`ki\kiXZkj%
D<DFIPJ<8K@E>
K_`j]\Xkli\#jkXe[Xi[feJ<Xe[J<$Cdf[\cj#`jXn\cZfd`e^g\ijfeXc
kflZ_k_Xkd\XejpflËccXcnXpjY\XYc\kfi\kliekfpflifnej\Xk`e^
gi\]\i\eZ\jXkk_\kflZ_f]XYlkkfe%J`dgcp]`e[k_\dfjkZfd]fikXYc\
gfj`k`fe#gi\jjk_\ÊJ\kËYlkkfeXe[k_\jpjk\dn`ccjXm\lgkfknf[i`m\ij
j\kk`e^j#Xcfe^n`k_k_\gfj`k`fejf]k_\flkj`[\i\Xi$m`\nd`iifiXe[
jk\\i`e^n_\\c%
C<OLJ:FD=FIK
N_\i\m\igfjj`Yc\#n\Ëm\jfl^_kkfZliYef`j\c\m\cj
n`k_k_\IOXe[k_\\ok\i`fi[\j`^egcXpjXb\pgXik`e
XZ_`\m`e^k_`j%K_\jleiff]fek_\J<Xe[J<$Cdf[\cj#
]fi\oXdgc\#_XjY\\ei\[\j`^e\[jfk_XkX`igXjj\j
jdffk_cpfm\i`kjjli]XZ\#_\cg`e^kf\c`d`eXk\n`e[
ef`j\%C`b\n`j\#k_\\oZ\gk`feXccpZcfj\]`kf]k_\gXe\cj
\eZfliX^\jX`ikf]cfnhl`\kcpfm\ik_\Yf[pnfib%
K_\`dgi\jj`m\Yf[pi`^`[`kp#Xe8Zk`m\:fekifc<e^`e\
DflekXe[k_\i\[\j`^e\[\o_Xljkg`g\nfibkf^\k_\i
kfm`iklXccp\iX[`ZXk\m`YiXk`feÇk_\cXi^\jkZfeki`Ylkfikf
lenXek\[ef`j\%C`^_kn\`^_kjfle[$[\X[\e`e^dXk\i`Xcj
Xe[ef`j\$i\[lZ`e^^cXjjXi\lj\[k_ifl^_flkk_\m\_`Zc\
kfZi\Xk\XZXcd\em`ifed\ek%
GIFK<:K@M<>C8JJ
Kfgifk\ZkpfligXjj\e^\ijgi`mXZp#[Xib^i\p^cXjj`j
lj\[`ek_\i\Xi[ffi#i\XihlXik\igXe\cXe[kX`c^Xk\
n`e[fnj%8ccn`e[fnjXi\]`kk\[n`k_LM$ZlkXe[_\Xk$
`ejlcXk`e^k`ek\[^cXjjkfc`d`kk_\jlej`dgXZk%K_\]ifek
[ffin`e[fnjXi\ki\Xk\[n`k_XZfXk`e^kfi\g\cnXk\i
Xe[`dgifm\m`j`Y`c`kp%
Zfd]fik]fi\m\ipaflie\p#n_`c\X_ld`[`kpZfekifc
j\ejfigi\m\ekjZXY`eX`i[ip`e^flk%8efk_\ilj\]lc
]\Xkli\`jXZc\Xe$X`i]`ck\iZfekX`e`e^XZk`m\Z_XiZfXc
kfi\dfm\f[flijXe[i\[lZ\k_\Xdflekf]X`iYfie\
gXik`Zc\j#`eZcl[`e^gfcc\eXe[[ljk#\ek\i`e^k_\ZXY`e%
Fek_\IO+''_#k_\jpjk\d]\Xkli\jXe\c\Zki`ZX`i$
Zfe[`k`fe`e^Zfdgi\jjfi%K_`j`jgfn\i\[Ypk_\_`^_$
mfckX^\YXkk\ip#jfk_\i\jefe\\[kf`[c\k_\\e^`e\aljk
kfZffck_\`ek\i`fi#]l\c\Zfefdp`jefkZfdgifd`j\[
Xe[Zffc`e^\]]`Z`\eZpXe[Zfd]fikXi\\e_XeZ\[%
GFN<IK@CK8E;K<C<J:FG@:JK<<I@E>
KfdXb\\ek\i`e^Xe[\o`k`e^k_\m\_`Zc\Xj\XjpXj
gfjj`Yc\#k_\jk\\i`e^n_\\cXlkfdXk`ZXccpdfm\jkf`kj
dfjklefYkilj`m\gfj`k`fen_\ek_\\e^`e\`jjn`kZ_\[f]]%
=`e`j_\[`e_`^_$^iX[\c\Xk_\ifiXc\Xk_\i$nff[
ZfdY`eXk`fe#k_\jk\\i`e^n_\\c`eZfigfiXk\jXeldY\i
f][`jZi\\kcpi\Z\jj\[Zfekifcjjfpfli_Xe[jZXei\dX`e
n_\i\k_\pXi\Xjpflkliek_\n_\\c#`e]lccXe[jX]\
Zfekifcf]k_\m\_`Zc\%
8EK@$>C8I<D@IIFIJ
Kfc`d`k[`jkiXZk`e^Xe[gfjj`Ycp[Xe^\iflj^cXi\]ifdk_\
_\X[c`^_kjf]]fccfn`e^ZXij#k_\[ffid`iifijXe[`ek\ieXc
i\Xi$m`\nd`iifi\dgcfpj\ejfijc`eb\[kfXe\c\Zkif$
Z_ifdXk`Zjli]XZ\k_XkXlkfdXk`ZXccp[Xib\ejn_\e
i\hl`i\[%K_\i\XZk`m\^cXjjXcjfnfibj[li`e^k_\[Xp#
X[aljk`e^`kj\c]kfk_\XdY`\ekc`^_k%
=C<O@9C<JKFI8><
N_\i\m\ipflcffb`ej`[\k_\IO#pflËcc]`e[lj\]lc
jkfiX^\jgXZ\1`ek_\Z\eki\Zfejfc\#k_\cXi^\^cfm\
ZfdgXikd\ek#k_\i\XiXidi\jkXe[\m\ele[\ik_\
kX`c^Xk\]cffin_\i\k_\i\Xi\ZfeZ\Xc\[ZfdgXikd\ekj%
PflËccXcjf]`e[Zlg_fc[\ijk_ifl^_flkk_\m\_`Zc\#fek_\
[i`m\iËjj`[\`ejkild\ekgXe\c#`ek_\Z\eki\Zfejfc\Xe[
`ek_\i\XiXidi\jkj%
<C<:KIFE@::C@D8K<:FEKIFC
K_`j]lccpXlkfdXk`Zjpjk\d#n_`Z_Zfd\jXjjkXe[Xi[#
dfe`kfijXe[ZfekifcjX`imfcld\[`jki`Ylk`feXe[ZXeY\
\Xj`cpX[aljk\[m`Xk_\[Xj_YfXi[Ylkkfejfik_\kflZ_$
jZi\\e<c\ZkifDlck`$M`j`fe<DM M>8[`jgcXp%!K_\
jpjk\d]\Xkli\j`e[\g\e[\ekc\]kXe[i`^_kZfekifcj]fik_\
[i`m\iXe[]ifekj\XkgXjj\e^\i#\ejli`e^g\ijfeXc`j\[
!N_\e]`kk\[n`k_k_\Dlck`d\[`XXe[EXm`^Xk`fegXZbX^\%
**
JG<:@=@:8K@FEJ
<e^`e\
=ifekdfkfi
I\Xidfkfi
Jpjk\dflkglk
KiXejd`jj`fe
G\i]fidXeZ\
=l\cZfejldgk`fe
XZZfi[`e^kf0*&((-&<<: 9iXb\j
Jljg\ej`fe
;`d\ej`fej
N\`^_kj
<e^`e\kpg\
:XgXZ`kpZd* DXo%flkglkbN&Y_g7igd DXo%kfihl\Ed7igd IO*,'
M-&)+#[lXcMMK$`
*#+,-
)'*&).)7-#)''
*+)7+#.''
IO+''_
M-&)+#MMK$`
*#*((
(,,&)'/7,#-''
)//7+#+''
DXo%flkglkbN DXo%kfihl\Ed $
$
()*
***
DXo%flkglkbN DXo%kfihl\Ed $
$
,'
(*'
DXo%flkglkbN&Y_g )''&)-/
>\XiYfo
=fli$n_\\c[i`m\
<$=FLI
,$jg\\[XlkfdXk`Z
<$:MK<c\Zkife`ZXccp$Zfekifcc\[
:fek`elfljcpMXi`XYc\KiXejd`jj`fe
8ik`]`Z`Xc@ek\cc`^\eZ\XlkfdXk`Zj_`]k
n`k_<:K$`j\hl\ek`XciXe^\j\c\Zk`fe
DXo%jg\\[dg_bd&_ '$-)dg_j ()+)'' .%/
()+)''
.%-
LiYXedg^c&(''bd <okiXliYXedg^c&(''bd :fdY`e\[dg^c&(''bd :F)\d`jj`fej^&bd 9@BKXoYXe[
(/%'(,%. **%)/%, ),%)((%) )-+
*,
*(%'0%(
*.%).%*+%0/%(
(0)
))
=ifek
I\Xi
M\ek`cXk\[[`jZj
Jfc`[[`jZj
M\ek`cXk\[[`jZj
Jfc`[[`jZj
=ifekXe[i\Xi
DXZG_\ijfejkilk#Zf`cjgi`e^j
DXZG_\ijfejkilk#Zf`cjgi`e^j
X`ijljg\ej`fefeIO*,'J<$C C\e^k_dd N`[k_dd ?\`^_kdd Zf`cjljg\ej`fen`k_iff]iX`c ?\`^_kdd X`ijljg\ej`fen`k_iff]iX`cfeIO*,'J<$C N_\\cYXj\dd Cl^^X^\ZfdgXikd\ekd* +#.+'
(#/+,
(#.(,
(#-0'$(#.*,
)#.)'
'%+*0
+#.-'
(#/+,
(#.)'
$
)#.)'
'%+*0
B\iYn\`^_kd`e%$dXo% b^ (#/*,$(#0(,
)#'''$)#'+'
JK8E;8I;<HL@GD<EK
JX]\kpXe[j\Zli`kp
89J8ek`$cfZb9iXb`e^Jpjk\d 98J9iXb\8jj`jkJpjk\d KI:KiXZk`fe:fekifc <9;<c\Zkife`Z9iXb\]fiZ\;`jki`Ylk`fe MJ:M\_`Zc\JkXY`c`kp:fekifc 8ek`$k_\]kjpjk\d#`ddfY`c`j\iXe[[flYc\[fficfZb
;i`m\iXe[]ifekgXjj\e^\i)$jkX^\X`iYX^
Be\\X`iYX^[i`m\iXe[]ifekgXjj\e^\i K8GK_fiXo8Y[fd\eG\cm`j X`iYX^[i`m\iXe[]ifekgXjj\e^\i :likX`ej_`\c[X`iYX^]ifekXe[i\Xi
N@C]ifekj\XkjN_`gcXj_@ealipC\jj\e`e^ @JF=@OXkkXZ_d\ek#i\Xij\Xkj
J\XkY\ckgi\$k\ej`fe\ij]ifekXe[i\Xi
<ok\i`fi
Iff]iX`cj
Flkj`[\i\Xi$m`\nd`iifi1\c\Zki`ZXccpX[aljkXYc\#_\Xk\[#\c\Zkif$Z_ifdXk`ZXlkf$[`dd`e^
?@;_`^_`ek\ej`kp[`jZ_Xi^\ [`gg\[_\X[c`^_kjn`k_gfg$lgnXj_\ij
C<;c`^_k\d`kk`e^[`f[\ i\Xic`^_kj
NXk\ii\g\cc\ek]ifek[ffi^cXjj
LM$Zlk]ifekj`[\^cXjj
@ek\i`fi
Fgk`kife[`jgcXpn`k_<:;<c\Zkif:_ifdXk`Z;\m`Z\
@ej`[\i\Xi$m`\nd`iifi1\c\Zkif$Z_ifdXk`ZXlkf$[`dd`e^
:il`j\Zfekifc
C\Xk_\i^\Xij_`]kc\m\i#c\Xk_\ijk\\i`e^n_\\c
Jk\\i`e^n_\\cfg\iXk`fe]fiXl[`fXe[g_fe\
@e$[Xj_#j`e^c\$jcfk-$:;XlkfZ_Xe^\i
Dlck`$@e]fidXk`fe;`jgcXp`eZ\eki\`ejkild\ekZcljk\i
Fe\$kflZ_gfn\in`e[fnj]ifekXe[i\Xi
<c\Zkife`Z:c`dXk\:fekifc
J\gXiXk\[i`m\i&gXjj\e^\ik\dg\iXkli\Zfekifcj
<c\Zki`ZXccp$X[aljkXYc\]ifekj\Xkj[i`m\i/$nXp#gXjj\e^\i+$nXp
:c\XeX`i]`ck\in`k_gfcc\ei\dfmXcdf[\
-'&+'i\Xij\Xkjgc`k
()mXZZ\jjfipflkc\k#]ifekXe[Yffk
8[[`k`feXcjg\Z`]`ZXk`fej
IO*,'
IO*,'J<
8jIO*,'#gclj1
IO*,'J<$C
8jIO*,'J<#gclj1
(.É-$jgfb\Xccfpn_\\cj)),&-'I(.
=XYi`Zlg_fcjk\ip
Nff[`ej\ikj
Gi\d`ldXl[`fn`k_j`e^c\$jcfk-$:;XlkfZ_Xe^\i
Fgk`feXcGi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
(/É,$jgfb\Xccfpn_\\cj)*,&,,I(/
@$8=J@ek\cc`^\ek8[Xgk`m\=ifek$c`^_k`e^Jpjk\d
Gfn\i$fg\iXk\[kX`c^Xk\
<c\Zki`ZXccp$X[aljkXYc\jk\\i`e^n_\\c
<c\Zki`ZXccp$X[aljkXYc\]ifekj\Xkjn`k_cldYXijlggfik
[i`m\i/$nXp#gXjj\e^\i/$nXp
C\Xk_\ilg_fcjk\ipXe[_\Xk\[]ifekj\Xkj
D\dfipgXZbX^\]fi[i`m\iËjj\Xk#\ok\i`fid`iifij
Xe[jk\\i`e^n_\\c
+'&)'&+']fc[XYc\i\Xij\Xkj
<c\Zki`Zjleiff]
Fgk`feXcDlck`d\[`XgXZbX^\Ê',;M;$YXj\[
jXk\cc`k\eXm`^Xk`fe2.M>8jZi\\e2DXibC\m`ejfež
Xl[`fR((jg\Xb\ij2-$;M;Z_Xe^\iT29cl\kffk_ž
Zfee\Zk`m`kp2GXib`e^8jj`jkDfe`kfi
Fgk`feXcGi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
8`ijljg\ej`fe
Nff[gXZbjk\\i`e^n_\\cXe[^\Xij_`]kc\m\i
Dlck`d\[`XgXZbX^\Ê',;M;$YXj\[jXk\cc`k\
eXm`^Xk`fe2.M>8jZi\\e2DXibC\m`ejfežXl[`fR((
jg\Xb\ij2-$;M;Z_Xe^\iT29cl\kffk_ž
Zfee\Zk`m`kp2GXib`e^8jj`jkDfe`kfi
Gi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
IO+''_
IO+''_J<
8jIO+''_#gclj1
IO+''_J<$C
8jIO+''_J<#gclj1
(/É,$jgfb\Xccfpn_\\cj)*,&,,I(/
<:9<c\Zkife`ZXccp:fekifcc\[9iXb`e^
<$:MK<c\Zkife`ZXccp$Zfekifcc\[:fek`elfljcp
MXi`XYc\KiXejd`jj`fe <GJ<c\Zki`ZGfn\iJk\\i`e^
M;@DM\_`Zc\;peXd`Zj@ek\^iXk\[DXeX^\d\ek
=XYi`Zlg_fcjk\ip
8cld`e`ld`ej\ikj
Gi\d`ldXl[`fn`k_j`e^c\$jcfk-$:;XlkfZ_Xe^\i
Fgk`feXcGi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
Fgk`feXcnff[gXZbkfi\gcXZ\Xcld`e`ld`ej\ik
@$8=J@ek\cc`^\ek8[Xgk`m\=ifek$c`^_k`e^Jpjk\d
IX`e$j\ej`e^n`g\ij
Gfn\i$fg\iXk\[kX`c^Xk\
<c\Zki`ZXccp$X[aljkXYc\jk\\i`e^n_\\c
<c\Zki`ZXccp$X[aljkXYc\_\Xk\[]ifekj\Xkjn`k_cldYXi
jlggfik[i`m\i/$nXp#gXjj\e^\i/$nXp
C\Xk_\ilg_fcjk\ip
D\dfipgXZbX^\]fi[i`m\iËjj\Xk#\ok\i`fid`iifij
Xe[jk\\i`e^n_\\c
+'&)'&+']fc[XYc\i\Xij\Xkj
<c\Zki`Zjleiff]
Fgk`feXcDlck`d\[`XgXZbX^\Ê',;M;$YXj\[
jXk\cc`k\eXm`^Xk`fe2.M>8jZi\\e2DXibC\m`ejfež
Xl[`fR((jg\Xb\ij2-$;M;Z_Xe^\iT29cl\kffk_ž
Zfee\Zk`m`kp2GXib`e^8jj`jkDfe`kfi
Fgk`feXcGi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
Fgk`feXcnff[gXZbkfi\gcXZ\Xcld`e`ld`ej\ik
Dlck`d\[`XgXZbX^\Ê',;M;$YXj\[jXk\cc`k\
eXm`^Xk`fe2.M>8jZi\\e2DXibC\m`ejfežXl[`fR((
jg\Xb\ij2-$;M;Z_Xe^\iT29cl\kffk_žZfee\Zk`m`kp2
GXib`e^8jj`jkDfe`kfi
Gi\d`ld@:<@e$:Xi<ek\ikX`ed\ek jpjk\d
Fgk`feXcnff[gXZbkfi\gcXZ\Xcld`e`ld`ej\ik
IO*,'C<
(/É.$jgfb\Xccfpn_\\cj
C\Xk_\ilg_fcjk\ip
Nff[`ej\ikj
<c\Zki`ZXccp$X[aljkXYc\_\Xk\[]ifekj\Xkj
Fgk`feXcDlck`d\[`XgXZbX^\Ê',;M;$YXj\[
jXk\cc`k\eXm`^Xk`fe2.M>8jZi\\e2DXibC\m`ejfež
Xl[`fR((jg\Xb\ij2-$;M;Z_Xe^\iT29cl\kffk_ž
Zfee\Zk`m`kp2GXib`e^8jj`jkDfe`kfi