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I Ndola Map No. 4007 Rev. 8 UNITED NATIONS Department of Peacekeeping Operations January 2004 Cartographic Section $VFDQGDOWKDWQHHGVWRHQG -RKQ+ROPHV :KLOHWKHFULVLVLQWKH.LYXVKDVEHHQDIRFXVRIDFWLRQDQG ȱȱ ȱȱ DGYRFDF\E\WKHLQWHUQDWLRQDOFRPPXQLW\IRUGHFDGHVIXUWKHU ȱ¢ȱȱěȱȱ FRQÁLFWVFKDUDFWHULVHGE\PDVVLYHLQWHUQDODQGFURVVERUGHU ȱȱȱȱ¡ȱ ȱȱȬȱȁȱ GLVSODFHPHQWVKDYHEHHQSUROLIHUDWLQJLQDOOIRXUFRUQHUVRIWKH Ȃȱ¢ȱěȱȱȱ 'HPRFUDWLF5HSXEOLFRI&RQJR '5& ȱȱȱȱȱ ǯȱȱȱ ¢ȱȱ ȱȱřŗȱ ¢ȱŘŖŗŖǰȱȱȱ ·ȱ·ȱȱǰȱ ȱȱȱȱȱȱ¡ȱ ŗǯşȱȱȱ ȱ¢ȱ Ǽȱȱȱȱȱ ȱȱȱěȱȱ ȱ ȱȱȱȱȱ ǰȱ ǰȱ¢ȱȱ ȱ ȱǰȱȱȱȱȱ ǰȱ ȱȱȱ ȱ·ǰŗȱȱȱ ȁ £ȂȱěȱȱȱȦ ȱȱǯȱȱȱȱ ·ȱȱȱ·ȱȱ ȱȱȱȱȱȱȱ ¢ȱ ȱȱĴȱȱ ȱȱ ȱǻǼǯȱȱȱȱȱ ŘŖŗŖȱȱȱ¢ǯȱȱȱ ȱȱȱȱȱȱȱȱ ŘŖŖşǰȱȱȱ¢ȱȱ ȱȱȱȱşŖǰŖŖŖȱǯȱ ȱǯȱȱȱȱǰȱ ȱȱ ǰȱ ȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱ ȱȱ ǰȱȱȱ ȱȱȱȬĚȱ ȱ ȱȱȱȱ ȱȱŘŖŖşȱȱŘŖŗŖȱ ěȱȱȱĞȱǯȱ ȱȱǰȱȱ ȱȱȱȱȱȱ ȱȱȱȱ¸ȱ ȱȱ¢ȱȱ 7KH.LYXV ȱȱȱ·ȱȱȱ ȱȱȱȮȱ¢ȱȱ ȱȱȱȱȱ ȱ ǻǼǯȱȱȱȱȱȱȱ ȱ ǰȱȱȱȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱ ȱ ȱȮȱȱȱȱȱ ȱ ȱȱȱȱȱȱ ȱŘŖŖşǯȱ ǰȱȱȱ ȱȱȱȱŜŘŜǰŖŖŖǯȱȱ ȱ ȱȱ ȱȱ ȱȱȱ ȱȱ ȱ¢ȱęȱȱ ȱ¢ȱǻȱ·ȱȱȱ ȱȱŞŝśǰŖŖŖȱȱȱȱ ǰȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱĚȱȱ¢ȱȱȱȱ ȱȱ ȱǰȱ ȱȱȱȱȱ ¢ȱȱ¢ȱȱȱ ȱȱȱȱ ¢ǯȱ ȱǰȱȱȱǰȱ ȱȱǰȱȱȱ 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ȱȱȱȱȱȱǯȱ -RKQ+ROPHV GLUHFWRU#GLWFKOH\FRXN ȱȱǯȱȱȱȱȱ ȱȱȱȱȱ ZDVWKH818QGHU6HFUHWDU\*HQHUDOIRU ȱĴȱȱȱŘŖŖŝǰȱ ȱ¢ȱǰȱȱȱ +XPDQLWDULDQ$IIDLUVDQG(PHUJHQF\ ŗǰŞşřȱȱȱȱǰȱ ŘśǰŖŖŖȱ ȱȱȱȱȱȱ 5HOLHI&RRUGLQDWRUDQGLVQRZ ȱȱŗǰŜŖŖȱȱȱ ȱȱ ȱŚŞǰŖŖŖȱȱ¢ȱȱȱ 'LUHFWRURIWKH'LWFKOH\)RXQGDWLRQ ŞśŚȱȱȱȱǯȱ ȱȱȱǯȱȱȱȱ KWWSZZZGLWFKOH\FRXN ¢ǰȱȱȱřşŖǰŖŖŖȱȱ ȱȱȱȱ¢ȱǯȱ ŗǯȱȱȱȱȱȱȱȱȱŗşşŚȱ ȱ¢ȱȱȱȱ Ȭȱ ȱȱȱȱȱ ȱ ȱȬ··ȱȱȱȱ ȱȱ¢ȱȱ¢ȱ '(02&5$7,&5(38%/,&2)&21*2 )05 7KHG\QDPLFVRILQVWDELOLW\LQ HDVWHUQ'5& 3LHUUH-DFTXHPRW 7KHFRQÁLFWLQHDVWHUQ&RQJRKDVEHHQWKHPRVWGHDGO\RQHVLQFH ǯȱȱȱȱȱ WKHVHFRQG:RUOG:DUDQGLWVVRFLDOFRQVHTXHQFHVKDYHEHHQ ȱȱȱ¡ȱȱ ȱ GLVDVWURXV6ROXWLRQVWRWKHFRQÁLFW²ZKLFKKDVLWVURRWVLQSROLWLFV ȱȱȱȱǰȱȱ ȱ¢ȱ ȱȱȱȱ LQGHPRJUDSKLFVDQGLQHFRQRPLFV²PXVWORRNWRWKHORQJWHUP ȱęȱȱȱ¢ǯ ȱęȱęȱȱȱ ȱȱ¡ȱȱ¢ȱ &ULPLQDOHFRQRP\ ȱ ŗȱȱȱ ȱȱǯȱȱ ȱ¢ȱ ȱ ȱȱ ȱȱŗşřŝȱ ȱȱǻȱȱ ȱȱ ȱȱȱ ȱȱȱǰȱǰȱ Ǽȱȱȱȱ ȱ ȱȱǻȱ ȱ ȱȱ¢ȱęȱȮȱ ȁȬȂȱ¢ ȱǻȱ ¢ȱǼǰȱȱ ȱȱȱȱȱȱǯȱ ȱ Ǽȱȱȱȱ ȱ ȱȱȱȱ ȱǰȱȱȱ¢ȱ¢ȱ ȱȱȱȱȱ ȱȱǰȱȱȱȱȱ ȱ ȱȱȱ¢ǰȱ ȱ·ȱ ȱȱȱȱȱ¢Dzȱ ȱ ȱȱȱȱȱ¢ȱęȱ ǻȱȱ ȱǰȱȱȱȱȱ ǯȱ ȱ ǰȱ ȱ ȱȱȱȱȱ Ǽǯȱ ȱ ȱȱ¢ȱȱ¢ȱ ȱ ȱ ěȱȱȱȱDzȱȱ ȱȱȱ ȱȱȱ£ȱȱȱ¢ȱȱ ȱȱ ȱȱȱǯȱȱȱ ¢ȱȱ ȱȱǰȱȱ¢ȱ ȱ ȱǯȱ ȱȱȱ¢ȱȱ ȱȱȱ¢ȱȱȱȱ ȱȱ ǰȱȱȱȱ¢ȱȱ ȱȱ ȱ ĚȱȮȱȱ¢ȱ ȱȱ ȱȱ ȱȱȱ ȱ ǰȱȱȱ ȱȱȱ ȱǰȱȬȱȱȱȱȱ ȱȱ ȱ¡ȱȱȱǰȱȱ ǯȱ ȱȱȱȱȱǯȱ ȱ ȱȱȱ ȱǰȱȱȱȱȱǯȱ ȱȱȱ ȱęȱȱȱ¡ȱ ȱȱȱ ȱĜȱȱȱȱ &KULVWLDQ$OVZZZFKULVWLDQDOVFRP ȱȱ ȱ ȱȱȱ¢ȱ ¢ǰȱ 7ZRER\VRQZDWFKIRUUHEHOVDWWKH0XJXQJDUHIXJHHFDPSQRUWKRI*RPD ȱę ȱ ǰȱȬȱǰȱ ȬŚŝǰȱ ȱ ǰȱȱȱȱ Ěȱ ȱ ȱȱǯȱȱȱ ȱ¡ȱȱ ȱȱȱȱǯȱȱ ȱȱȱ¢ȱȱǰȱȱ ęȱȱȁȂǯȱ¢ȱŗşŜŖȱȱ Ěȱ ȱ¢ȱȱ¢ȱ ȱȱȱȱ ȱ ȱȱŘŖŖǰŖŖŖȱ ȱ ȱǰȱ ȱȱ ȱȱǯȱȱȱȱȱŘŖŖşǰȱ ȱȱǯȱȱ ȱȱ ȱ ȱ¢ȱȱȱ ȱ ȱȱŚŖǰŖŖŖȱ ȱ ȱȱ ȱȱ ǰȱȱ ȱȱ¢ȱ ȱȱ ȱǯȱ ȱȱ ȱ ȱȱ ȱȱȱȱȱ ǯ ȂȱȱȱŗşŜŘDzȱ ȱȱȱȱȱ ȱĚȱȱ ȱȱ ȱȱȱȱȱŗşşŖǰȱȱ ȱ¡ȱȱĚDZȱȱ ȱȱȱȱ ȱ ȱȱȱȱȱ ǰȱȱ¢ȱ ȱȱǰȱ ¢ȱȱȱȱȱ ȱȱȱȱ ȱDZȱ ¢ȱǰȱǰȱȱ ȱŗşŝŘȱȱȱȱȱĚȱ ȱ¢ȱȱȱȬĞȱ ǰȱ¡ȱǯȱ ȱȱȱ ȱ ǯȱ ȱȱ¢ȱȱȱ ǰȱȱȱȱȱ ¢ȱȱ ȱȱ ȱȱȱȱ ǰȱ ȱ ¢ǰȱȱ ȱȱȱȱȱȱ ǰȱ ȱȱȱ ȱǰȱ¢ȱȱȱ ȱȱǯȱȱ Ȭȱȱȱȱ ȱȱǯȱ ȱȱȱȱǻȱȱ ȱȱȱǯȱ¢ȱ ¡ȱǼȱȱȱ ǰȱȱ ȱǯȱ ȱ ȱȱ ǰȱ ȱĚȱȱȱȱȱ ȱȱ ȱȱȱ ǰȱ ȱȱȱ¢ȱȱ ȱ ȱȱȱȱĞȱȱ ȱȱȱȱ ǰȱ ȱȱȱȱȁ Ȃȱ ȱȱȱŗşşŚȱ¢ȱ ǰȱǰȱǰȱȱȱ ȱȱȱȱȱǰȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱȱǰȱ ¢ ȱ¢ȱǰȱȱ ȱȱȱȱĴȱ ȱȱȱ ¢ ǯȱ ȱȱȱ ȱȱȱǯȱ Ěǰȱȱȱ ȱȱȱȱȱȱȱȁȱ ȱȬȱȱȱȱ Ȃȱǻ Ǽȱ¢ȱȱ·ȱȱ ȱȱȱȱȱȱ ȱ ¢ȱȱȱȱ ¢ȱ ȱȱȱ ȱ¢ȱȱȱ ȱ ȱȱȱȱȱ¢ǯȱȱ ¢ȱȱȱȱ ȱȱ ¢ȱ¢ȱǰȱȱȱ ȱȱȱȱȱ¢ȱȱ ¢ǯȱȱȱȱ¢ȱ ǰȱȱĞȱȱȱȱ ȱȱȱȱ ȱȱ ȱȱȱ ȱȁȂȱ ǯȱȱȱȱ śŜȱȱǰȱ¢ȱ ȱȁȬȂǯȱȱȱ¢ȱ ȱȱȱȱ¢ȱ ȁȂȱȱȱŗşŞŖǯȱȱ ȱ ȱ¢ȱěȱȱȱȱ ȱ ȱȱȱ¢ȱȱ ȁȱȂȱȱȱ ȱȱDzȱȱ ȱęȱȱǯȱ ȱȱȱȱęȱ ȱȱ ȱȱǰȱ ȱ¢ǯȱȱ¢ȱŘŖŖşȱ ȱ¢ȱȱȱǯȱ 3URWHFWLRQWKHKLJKHVWSULRULW\ ȱȱȁȱȂȱ ȱȱȱǻ ǰȱ ȱȱŘŖǰŖŖŖȱȱȱ 'LVDVWURXVVRFLDOFRQVHTXHQFHV ǰȱ Ǽȱȱȱǰȱ ȱȱȱȱǯȱ ȱ ȱȱȱȱȱȱ ę¢ȱȱȱȱŘŖŖşȱ ǰȱȱȱȱȱȱȱ ȱȱĚȱȱȱ¢ȱȱ ǻȱŗşŖŜǼȱȱ ȱŘŖŗŖȱ ȱȱȱȱȱ ǯȱ ȱȱŘŖŗŖǰȱȱ ȱȱ ǻȱŗşŘśǼǰȱȱȱȱ ¢ȱȮȱȱǰȱȱȱ¢ǰȱȱ ŗǯśȱȱȱǰȱȱ ȱ¢ȱȱȱ ȱȱěȱȱȱ¢ǯȱ ȱȱȱȱ ȱĚȱ ǰȱȱDZ ȱȱȱǰȱȱȱ ȱȱ ȱȱȱ ȱȱǰȱȱȱȱ ȱĴǰȱȱ¢ȱǰȱ Ięȱȱȱȱ ȱ ȱȱ¢ȱȱ ¢ȱȱȱ¢ǯȱȱ ȱȱȱ ŘŖŖşǰȱ ȱȱęȱȱȱ ȱȱȱȱ ȱȱȱǯȱȱǰȱ ¡ȱȱ ǯȱ¢ȱȱǻŞŚǯŝƖȱ Iȱȱȱȱ ȱ ȱ ȱǰȱ ȱ ȱȱ ȱȱŝřƖȱȱȱ ȱȱ ȱȱęȱȱȱȱ Ǽȱȱȱȱȱȱ ȱȱȱ¢ȱȱȱȱ ȱǻŝŗǯřƖǼǯȱȱĴȱ Iȱȱȱȱȱ ȱȱȱȱ ȱȱ¢ȱ ȱȱ¢ȱȱ ȱȱȱȱȱ ȱȱȱȱȱ ǻȱśřƖǼǰȱȱȱȱ ȱȱ ȱȱ¢ǰȱę¢ȱȱ ȱ¢ȱȱȱǯȱ¢ȱ ȱ ȱȱ ȱȱȱȱ ȱȱȱȱȱ IȱȱĴȱ ȱȱȱȱȱȱ ȱ ȱȱȱȱ ǰȱ¢ȱȱ ǰȱ ǯȱȱȱȱ¢ȱȱǯȱ ȱȱ¢ǯȱ ȱȱ ǰȱȱȱ ȱǰȱ ȱȱȱȱ ȱȱȱĚȱȱȱ ŘŝǰŝŖŖȱȱȱȱ ǰȱȱ Iȱȱȱȱȱ ȱ ȱȱǯȱĞȱȱ¢ȱ ȱŘŚǰŖŖŖȱȱȱȱ ǯȱ ȱȱȱȱȱȱ ¢ȱȱĚȱȱ¢ǰȱ ȱȱȱȱ¢ȱȱȱ ȱȱȱȱ Iȱ¢ȱȱ ȱȱȱȱǰȱȱȱ ǯȱȱȱȱȱ ȱȱȱȱ ȱȱȱȱĴȱ ęȱ¡ȱ ȱȱ ȱȱȱȱ ȱęȱȱǯȱ ǰȱ ȱǰȱȱȱ¢ȱ ȱȱǯ ȱȱȱ¢ȱȱȱȱ¢ȱ ȱȱȱ¢ȱ ȱȱȱȱȱȱ ǯȱȱȱȱȱ¡ȱ Ğȱȱȱǰȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱǯȱ ȱ¢ȱȮȱȱȱȱ ȱȱȱȱȱ ȱ¢ȱ¢ȱǰȱ ȱ ȱȱȱȱȮȱȱ ȱȱ¢ǰȱ¢ȱȱȱ ȱȱȱȱ ȱǰȱ ȱȱȱȱȱ ęȱȱȱǯȱ ȱ ȱȱěȱ¢ȱȱ ȱǰȱǰȱ ȱȱȱ¢ȱȱȱȱ ȱȱȱȱȮȱ ǰȱȱȱ ȱȱ¢ȱȱȱ ȱ¢ȱȱȱ ȱǻřǼȱȱȱ ¢ǰȱ¢ȱȱȱȱ ȱȱȱ ǯȱ ȱȱŘŖŖřȱȱ ȱȱȱ¢ǰȱ ȱ ǯȱ¢ȱěȱȱȱ ȱȱȱȱ ȱȱ ȱȱ ȱȱȱȱȱ ȱȱȱ ȱȱ¢ȱȱ ǯȱȱ¢ȱ¢ȱȱȱ ȱȱȱȱȱ ȱ¢ȱȱȱ ȱ ȱȱȱȱȱȬ ȱȱȱǯȱȱ¢ȱȱ ȱȱȱȱ ĚȱDzȱȱȬȱȱ ȱȱȱȱȱȱ ęȱȱ¢ȱ ȱ ȱȱȱǯ ȱȱȱǰȱĞȱǰȱ ǰȱȱȱȱȱ ȱ¢ȱȱȱǯȱ ¢ȱȱȱȱ ǯȱ 3LHUUH-DFTXHPRW 3LHUUH-$&48(027# ȱȱȱĚȱȱȱ ȱȱȱȱȱȱȱ GLSORPDWLHJRXYIU LV)UHQFK ȱ ȱȱȱȱȱ ȱ¢ǯȱŘŗǰśŖŖȱęȱ $PEDVVDGRUWRWKH'HPRFUDWLF Ĵȱ¢ȱȱȱȱ ȱȱȱȱȱ 5HSXEOLFRIWKH&RQJR ¢ȱȱǯȱ ȱȱ ȱ ȱŘŖŖřȱȱŘŖŖşǯȱ KWWSWLQ\XUOFRP)UDQFHJRYW'5& ǰȱȱȱȱȱ ȱȱȱȱŘŖŗŖǰȱȱ ȱ ŗǯȱȱȱ ¢ ǰȱȱȱȱ ȱȱȱȱȱȱȱ ¢ȱřǰŖŖŖȱęȱȱȱ ȱ ǯ ȱȱȱȱȱȱǯȱ ȱ ȱǯȱ '(02&5$7,&5(38%/,&2)&21*2 )05 7KHUROHRIJRYHUQDQFH DQGUHVHDUFK %HUQDUG0XPSDVL/XWXWDOD )RUFHGPLJUDWLRQLVQRWQHZWR'5&EXWLWVH[WHQWDQGLWV ·ȱȱȱǻǼǰȱ FRQVHTXHQFHVDUHVWLOOVKRFNLQJ*RRGJRYHUQDQFHDQGUHVHDUFK ȱȱȱȱȱȱ PXVWSOD\DVWURQJHUUROHLIOLIHLVWRLPSURYHIRUWKHFLWL]HQVRI'5& ȱȱȱȁȂǯȱ ǰȱ¢ȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱŗşŜŚǰȱ ȱȱ¢ȱȱ¢ȱȱ ȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱǯȱǰȱȱ ȱȱȱȱ ȱȱ¢ǰȱȱ ȱȱ ȱ ȱȱĚȱȱȱ ǻǼȱȱȱȱȱ ȱ ǻŗşŝŝȱȱŗşŝŞǼǰȱȱȱȱ ȱȱǰȱ¡ȱ ǯȱȱȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ¢ǯȱ £ȱȱȱȱěȱ¢ȱ ·ȱȱȱ·ȱ ¢ȱȱĞȱȱȱȱȱ ǰȱȱ¡ȱ¢ȱȱȱ ȱȱǻǼȱȱŗşşŜǰȱȱȬ ȱȱȱȱȱȱ ȱȱǯȱȱȱ ȱ ȱȱȱȱŗşşŞȱ ȮȱȱȱȱęȱȮȱȱ¢ȱ 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ȱ¢ǯȱ ȱ ¢ȱ ȱȱȱ ȱȱȱȱŘŖŖŚȱȱȬ ȱȱȱȱȱ ȱ¢ȱȱȱȱȱ ŘŖŖŜǰȱȱȱ¢ȱȱ ȱȱȱȱȱ Ȭȱȱ ȱȱŗşşŜǯȱ ȱȱ ȱȱȱ¢ȱȱȮȱ ȱȱȱȱȱȱ ¢ȱȱ ǰȱȱȱȱ ȱ ȱȱȱȱȱȂȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱ ȱȱȱŗȱ ȱǯȱȱĴȱ ȱȱ ȱȱȱȱ Ȯȱȱȱȱȱ ȱȱȱ ȱǰȱ¢ȱȱĞȱȱ ȱȱ ȱȱ ȱȱȱȱȱ ȱ¢ȱ¢ȱȱ ȱȱ ȱȱȱȱȱ ȱ ȱ ȱŘŖŖŜǯȱ ǰȱ ȱȱ ȱȱȱȱȱǯȱ ȱȱ ȱȱ¢ȱȱ ȱȱȱȱ ȱȱŘŖŖŖǯȱȱȱ ȱȱ ȱȱ ȱȱ 3DWWHUQVRIGLVSODFHPHQWV ȱȱǰȱ ȱȱȱȮȱ¢ȱȱ ȱȱ¢ȱȱ ȱęȱȱ ȱȱȱȱ ȱȱȱŘŖŖśȱȮȱ¢ȱ ȱȱĴǰȱ ȱ ȱ ȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱěȱȱȱȂȱ ȱȱȱȱǯȱ ȱǰȱȱȱǯȱ¢ȱĞȱ ȱǰȱȱȱȱ ȱȱȱȱȱ ǰȱ ȱ ȱȱ ȱȱǰȱ ȱȱ ȱȱȱȱȱǯȱȱ ȱȱřǯŚȱȱȱŘŖŖřǯȱ Ȃȱȱ¢ȱǻǼȱ ȱ ȱȱǰȱ ȱ¢ȱȱȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȬŘŖŖřȱ ¢ȱǰȱȱȱȱ Ğȱȱȱȱ ȱȱ ȱȱȱ ǰȱ ȱ ȱȱȱȱŘŖŖŞǰȱȱ ȱ¢ȱȱĚȱȱǰȱ ȱȱȱǰȱ ȱȱȱȱ¢ȱ ȱȱȱĜȱȱȱȱ ȱȱ¢ȱȬŘŖŖŚȱ ȱȱȱȱ ȱȱ ȱȱ ȱ¢ȱ ȱȱǯȱ ȱȱȱǯȱ ȱȱȱȱȱ¢ǯȱ ǰȱȱȱ Ȭȱ ȱȱȱ ȱȱ 7KHVWUXJJOHIRUUHVRXUFHV ȱȱȱȱ ȱǰȱȱȱ ȱȱȱ¢ȱȱ ȱȱ ¢ȱȱȱȱ ȱȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱȱ Ě¡ȱȱȱȱȱȱ ȱȱǯȱȱȱ ȱȱ¡ȱȱǰȱ ȱ ȱȱȱĞȱ ȱȱȱȱ ¢ȱȱ ȱȱȱǯȱ Ĵȱȱȱȱȱ ȱȱȱȱȱȱ ȱ¢ȱŘŖŖŝǰȱȱ¡ǰȱȱ ȱȱȱȱ ǯȱȱȱȱȱ ȱȱȱ ȱȱ ȱ ǰȱȱ ȱȱ ǯȱ ȱȱȮȱȱ ȱ ȱĚȱȱȱȱ ȱ ȱȱ ǰȱȱȱ ȱȱȱȱȱ ȱ ȱ ȱȱĚȱ ȱ ȱȱȱȱȱȱ ȱ ȱȱȱ ȱ ȱȱȱȱȱȱǯȱ ȱ ȱȱśƖȱȱŘŖŖśȱȱřśƖȱȱ ȱȱȮȱȱ ȱ ȱ¢ȱȱȱ ǰȱ ȱ ŘŖŖŞȱȱȱȱŗŜƖȱ¢ȱȬŘŖŗŖǯȱ ȱȱȱǰȱ ȱȱȱȱȱ ȱȱȱȱ ȱȱȱȱȱȱȱȱ ȱȱȱ ȱȱĚȱȱȱ ȱȱȱȱȱȱȱ ǰȱȱ¢ȱȱĚȱ ǯȱȱȱȱ ȱȱȱ ȱȱȱȱ ȱǯȱȱ ȱ ȱȱǰȱȱȱȱȱ ȱȱ ȱȱȱǯȱ ȱȱȱȱȱ ¢ȱȱȱ ȱȱ ęȱȱȱǰȱǰȱ ȱ¢ǯȱȱȱ ȱȂȱȱȱ ȱȱŘŖŖşȱȱȱȱȬ ȱ ǰȱȱǰȱȱ ȱȱȱȱȱȱ Ěȱ¢ȱ ȱȱ ȱ ȱȱȱȱ ȱ ¢ȱȱȱȱȱȱ ŘŖŖǰŖŖŖȱȱȱĚǰȱ Ȭȱ ȱȱȱȱ¢ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱȱ ȱȱȱĚǰȱĞȱ ǰȱȱȱ ȱǯȱ ȱȱȱ ȱȱȱȱȱ Ěȱȱȱȱȱ ŘŖŗŖȱȱȱȱŘȱǯŘȱ ȱȱǯȱ ȱȱȱȱȱȱȱ ȱȱȱ ȱȱ ȱĚ ȱȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱ ǰȱ '(02&5$7,&5(38%/,&2)&21*2 )05 81+&566FKXOPDQ ȱȱŗǰśŚŘǰŖŖŖȱȱǰȱ ȱȱĚȱǰȱȱȱ ȱȱȱȱ Ȭȱ ǯǯȱȱȱŝŞƖȱȱȱȱȱ ȱ¢ȱǰȱĚȱěȱȱ ȱ¢ǰȱȱȱ ȱ ǯȱȱȱȱȱȱ ȱȱǯȱȱȱȱ ȱȱȱȱȱǯ ȱȱȱȱȱȱ ȱȱȱȱ ȱŗŞȱǰȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ¡¢ȱȱ ȱ ȱȱȱȱȱȱ ǰȱȱȱȱǰȱ ȱ¡ȱȱ¢ȱȱ ȱ¢ȱȱȱ ȱȱǯȱȱȱ ¢ȱȱȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱěȱȱǯȱ ȱĚǯȱȱȱ¡ȱ Ĵȱȱȱǯ ȱ ȱȱȱȱĚȱȱȱ ȱ¡ȱȱȱȱ ȱȱ¢ȱǰȱ ǰȱȱȱȱ¡ȱȱ 9XOQHUDELOLW\H[DFHUEDWHG ȱȱȱ¢ȱ ǰȱȱ ȱȱȱ ȱ E\GLVSODFHPHQW ȱȱȱȱȱ ȱDzȱ ǰȱ¢ȱ ȱ ȱȱĴȂȱ ŘŖŖřȬŖŚǰȱȱȱǯȱ ȱȱȱ¢ȱȱȱ ǻ Ǽȱ¢ȱ¢ȱȱȱ ¡¢ȱȱ¢ȱǯȱ ȱȱȱȱȱȱ ¢ȱȱȱȱȱ ȱȱȱȱ Ěȱȱ ȱ¢ȱȱŘǯŚȱ ȱȱȱȱȱȱȱ ȱȱ¡ȱǰȱȱ ȱȱŘŖŖŗȱȱśǯŚȱȱȱŘŖŖşǯřȱ ǯȱ ȱȱȱ ȱȱȱ ȱ ȱȱěȱȱȱȱ ŘŖȬŚŖǰŖŖŖȱȱ ȱȱ ȱȱ¢ǰȱȱ ȱȱȱǯ ȱȱȱ ȱŘŖŖřȱ ȱȱȱ¢ǰȱ ȱŘŖŖśǰȱȱȱȱřǰŖŖŖȱ¢ȱŘŖŖŞǯȱ ȱȱǰȱȱȱ ȱȱȱǰȱȱ ȱȱȱȱ ǰȱ ȱȱȱǯȱ ȱȱęȱȱȱǰȱȱ ¢ȱȱȱȱ ȱȱȱȱȱ ȱǰȱȱȱȱȱ¢ȱ (URVLRQRIORFDOFDSDFLW\ ȱȱȱȱ¡¢ȱ ȱȱȱ¢ȱȱȱ ȱȱȱȂȱ Ĝȱȱȱ ȱ ȱȱȱȱȱ¡ǯȱ ¢ȱ¢ȱȱȱȱ ȱȱȱǰȱȱ Ğȱȱȱ ǰȱ¢ȱȱ ȱ ǰȱȱȱȱȱȱ ȱ ȱȱȱ ǯȱȱǰȱȱ ȱ¢ȱȱȱ ȱȱ ǯȱǰȱȱȱ ȱǰȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱǯȱȱȬ ȱȱȱȱȱȱȱ ǯȱȱȱȱ ȱ¢ǰȱ¢ȱȱȱ ȱȱ ȱȱǯȱ ȱĴȱ ȱȱȱ ȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱǰȱȱȱȱ ȱȱȱȱȱȱ ȱ ȱȱŘŖŖŚȱȱ ȱȱȱȱ ȱȱȱǯȱȱ ¢ȱȱȱ ȱ Ĝȱȱȱȱ ȱȱȱȱ¢ǯ ȱȱ ȱĴȱǯȱ ȱ ,QWHUQDWLRQDOKXPDQLWDULDQ ȱȱ ȱȱȱǰȱȱ DVVLVWDQFHDQGSURWHFWLRQ ȱȱȱȱ ȱȱȱ¢ȱ ȱȱȱ ȱǻ ȱȱȱ ¡ȱȱǯ ȱȱȱȱǰȱ ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱȱ ȱȱ ȱȱǼǰȱ ȱȱȱȱǯȱȱȱ ¢ǰȱȱȱȱ ȱȱȱȱ ¢ȱȱ ȱȱȱȱ ȱȱǰȱȱ¢ȱ ȱǻȱǼȱ ȱ ȱȱ ȱȱȱȱ ȱȱȱȱ ȱȱ ȱȱȱȱ ȱ ǰȱȱȱȱȱȱ ȱǯȱ ȱȱȱȱ¢ǯȱ ȱ Ȃȱǯȱȱȱ ȱȱȱ ȱȱȱ ȱȱ¢ȱȱȱȱ ȱ¢ȱȱĴȱ ȱȱ ȱȱ ȱȱȱȱ ęȱȱȱȱ ȱ ȱ ǰȱȱȱ ȱǯȱȱȱ ȱ ȱȱ¢ȱȱȱ ȱ ȱȱȱ¢ȱȱ ȱȱĞȱȱȱ DzȱĴȱȱȱ ȱȱȱǯ ȱȱĴȱȱ ȱ ȱȱěȱȱǯȱ ȱȱȱǯȱȱ ȱȱȱŘŖŖşǰȱȱǰȱ 5HFRPPHQGDWLRQVWRWKH ȱȱȱȱȱ ȱȱȱȱşŚƖȱȱȱ LQWHUQDWLRQDOFRPPXQLW\ ȱȱȱȱ¢ǰȱȱ ȱȱȱ ȱ ȱȱȱǰȱȱ Iȱȱȱȱ ȱȱ ȱ¢ȱȱǯȱ ȱȱȱȱȱ ȱȱȱȱ ȱȱ ȱȱȱȱ ǯȱ ȱ ǰȱȱȱ¢ȱ ȱ¢ȱ ȱȱ ȱȱȱǯȱ ȱȱȱȱǰȱȱ ȱȱǰȱȱ¢ȱ ȱȱȱȱȱ ǰȱȱȱȱ ȱ Iȱ¢ȱ ȱȱ ȱ¢ȱȱȱȱȱ ǯȱ¢ȱȱȱȱ ȱ ȱȱȱȱ ȱ ȱǰȱȱ ȱȱǰȱȱ ¢ȱȱ ¢ȱ ȱȱȱ ǯȱ ȱȱǰȱ¢ȱȱ ȱȱȱȱȱ ȱ ȱȱȱǯǯȱȱȱ ȱȱȱȱȱ ȱȱ¢ȱȱĴȱȱ ȱȱ ȱȱȱȱȱ ȱȱȱȱ ȱȱǯŚȱ ǰȱ ȱȱȱȱȱȱ ȱȱ ȱǰȱ ȱȱŘŖŖşȱ ȱȱ ȱȱȱǯ ȱȱȱȱȱ ȱȱǰȱ ȱȱ ȱǰȱȱȱȱ ȱȱȱǰȱȱ Iȱ ȱ¡ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱȱȱȱȱ ȱǰȱȱȱ ȱȱȱ ȱ ȱ¢ȱȱȱ ȱȱȱȱȱ ȱȱȱ ȱȱȱǯȱ ȱȱ ȱȱȱ ȱȱȱȱ ǰȱĚȱȱȱȱ ȱ ǰȱȱȱȱ ȱȱȱȱȱ ¢ȱȱȱǯȱ ȱȱȱȱȱȱ ȱȱȱǯ ȱȱȱȱ ȱ ȱȱȱěȱ ȱǯśȱȱȱȱ Iȱȱȱȱȱȱ ȱȱȱȱȱ ęȱȱȱȱȱ ȱ¢ȱȱȱ ȱȱȱȱȱ ¢ǯȱ ȱȱǰȱȱ ȱȱ ȱ ǰȱȱĚ¡ȱȱȱȱȱ Ȃȱ ȱȱȱ ȱȱȱȱǯ ȱȱȱȱȱȱ ǻȱȱěǰȱȱȱ *UHWD=HHQGHU JUHWD]HHQGHU#QUFFK ȱȱȱǰȱ ȱȱȱěǼǰȱȱȱ LV6HQLRU$QDO\VWIRUWKH$IULFDQ*UHDW ȱȱȱȱȱȱ ȱȱ¢ȱȱ /DNHVZLWKWKH,QWHUQDO'LVSODFHPHQW ¢ǯȱǰȱȱȱȱ¡ȱȱ ¢ȱȱȱȱȱ 0RQLWRULQJ&HQWUH 1RUZHJLDQ5HIXJHH ȱ ȱǰȱ ȱȱȱȮȱȱ¢ȱ &RXQFLO DQG-DFRE5RWKLQJ MDFRE ȱȱȱȱȱȱ ȱ¢ȱȱęȱȱ ¢ȱȱȱ URWKLQJ#QUFFK ZDVIRUPHUO\15& ȱĚȱȱȱȱěȱ ȱ ȱȱěȱȱȱ 3URWHFWLRQDQG$GYRFDF\$GYLVHULQ'5& ȱȱȱ ȱȱȱ ȱęǯȱ DQGLVFXUUHQWO\,'0&$QDO\VW,'0& ȱěȱȱǯȱ KWWSZZZLQWHUQDOGLVSODFHPHQWRUJ ǰȱ ȱȮȱȱȱȱȱ ȱȱȱȱȱȬ 15&KWWSZZZQUFQR ȱȱȮȱȱȱ ȱȱȱȱȱ ȱȱ ȱȱȱ ȱȱǰȱȱ ŗǯȱ ȱȱŗȱ ¢ȱŘŖŗŖȱȱȱȮȱȱ ȱȂȱȱȱȱȱ·ȱ ȱĚȱȱȱȱǰȱȱȱ ȱȱȱȱȱ ·ȱȱȱȦȱȱȱ£ȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱ £ȱȱȱȱȱȱȱȱ ȱȱȱ ȱ ǯȱȱȱȱǰȱȂȱ ȱǻ¢ȱȱȱŗşŘśǼ Řǯȱȱȱȱȱȱ ȱȱȱǯȱ¢ǰȱ ȱȱȱȱȱ ĴDZȦȦ ǯȬǯȦȦȱ ȱ¢ȱȱǰȱ ¢ȱȱ¢ȱȱȱȱȱ řǯȱĴDZȦȦ ǯǯȦȬȦȬĴȬȱ ȱȱȱǰȱȱȱ ¢ȱȱ¢ȱȱȱȱȱ¢ȱ Śǯȱȱȱȱ ȱȱȱȱȱ ǰȱȱȱ¢ǯȱȱ ĴDZȦȦ¢ǯȦȬȱ śǯȱĴDZȦȦ ǯ ǯȦȦȦŞŝŗŚŘȦȦŗŘȱ ¢ȱ ǰȱȱȱȱ ȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 %H\RQGWKHVLOHQFHVH[XDO YLROHQFHLQHDVWHUQ'5& -HVVLFD.HUDOLV 7KHVH[XDOYLROHQFHODZVLQWURGXFHGLQ'5&LQKDYHKDGRQO\ Ĵȱȱȱȱ¢ȱȁȂȱ OLPLWHGLPSDFW$PXFKORXGHUFRQGHPQDWLRQRIUDSHDQGDIDU ǯȱȱȱ ȱȱ PRUHSURDFWLYHDSSURDFKWRSUHYHQWLRQDUHXUJHQWO\QHHGHG ȱȱȱ ȱ ȱȱȱǯȱ ȱȱȱ ȱȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ ȱȁȱȱȂǯȱȱ ȱȱȱ ¢ȱȱŗŖȬŗŘȱ ȱȱȱ ¢ȱȱȱȱȱ¢ǰȱ ¢ȱȱ ȱȱ ¢Dzȱȱȱȱȱȱȱ ȱȱȱȱ £ȱǰȱȱȱȱ ȱ ȱ¢ǯȱȱȱȱ ȱȱȱȱǰȱȱ ȱȱ ȱȱȱȱ ȱ ȱĴȱȱ£ȱ ȱȱ¢ȱȱ¢ȱ ȱȱȱȱęŗȱȱ ȱȱ¢ǯȱȱ ȱ Ȭȱȱȱȱ ȱ ȱȱȱȱǯȱȱ ȱřǰŜŖŖȱ ȱȱ¢ȱȱ ȱȱDzȱȱȱȱ ¢ȱȱȱȱ¢ȱ¢ȱ ȱ¡¢ȱŗǰŖŖŖȱ ȱȱȱȱȱ ȱ£ȱȱȱȱȱ¢ȱȱ ȱȱȱ¢ǯȱȱ ȱȱěȂȱȱȱ ȱ¢ȱ¡ȱȱȱ ȱȱȱȱǯ ȱȱ ȱȮȱȱȱȱŜśǰŖŖŖȱ 7KHVH[XDOYLROHQFH ȱǯȱ ȱȱ¢ȱȱ ODZVOLPLWHGLPSDFW ȱ ǰȱȱ ȱȱȱ¢ȱ Ȃȱȱ¡ȱȱȱ ȱŘŖŖŜǰȱȱȱȱ ȱȱȱȱǰȱȱȱ ȱȱȱǯ ȱ ȱ ȱę¢ȱ ȱǰȱȱȱȱȱ ȱ¡ȱǯȱȱęȱ ǯȱȱȱȱȱȱ ȱȱȱŘŖŖŞǰȱȱȱȱ ȱȱȱęȱȱǰȱ ȱ¢ȱȱȱǯȱ ȱŘŗǰŖŖŖȱȱǰȱ¢ȱȱ ȱȱ¡ȱȱȱȱȱ ¢ȱȱĜȱȱȱ ȱȱǯȱȱȱȱ ǰȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ ȱȱ¢ȱȱ¢ȱȱȱ Ȃȱȱȱ¡ȱȱ ȱȱ Ȃȱǰȱ¡ȱ ¡ȱǰȱȱ¢ȱȱȱ ǯŘȱȱȱřřŚȱȱȱȱ ǰȱ¡ȱ¢ǰȱȱ ȱȱȱȱȱ ǰȱŘŖŖȱȱȱȱȱ ȱȱȱǯȱ ǯȱ¢ǰȱ¢ȱȱ ǰȱȱȱȱȱ ȱȱęȱ¡ȱȱ ȱ ȱȱ¢ȱ¢ȱȱ ȱȱŚśŖȱ¡ȱȱȱ ȱȱǻ¢ȱȱȱȱ ȱȱǻȱȱ ȱ ȱȱȱȱ¢ȱȱǯȱ ŗŜǼȱȱ¢ȱǰȱȱ ȱǼȱȱȱȱ ȱ ȱȱȱȱ¢ȱ¢ȱ ȱȱǰȱȱȱȱ ȱȱȱȱ¢ǯȱ +HDO$IULFD 7UDQVLW &HQWUHIRU ZRPHQ YLFWLPV RIVH[XDO YLROHQFH ,5,1$XEUH\*UDKDP '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱǰȱ ¢ǰȱȱ¢ȱ ȱ ȱ ȱȱȱȱĞȱ ǰȱȱ¡ȱȱ¢ȱ ȱ¢ȱȱȱ ȱȱȱDZȱȃȱȱ ȱȱȱȱȱ ȱȱȱȱ ǯ ȱ ȱȱȱȱȱ ¢ȱǯȱȱȱ ǯȱdz ȱȂȱȱ¢ȱȱ ȱ ȱȱȱȱ£ȱ ȱȱȱȱ ȱȱȱȮȱ¢ȱ ȱȱ ȱȱǰȱ ȱ ȱȱ¡ȱȱ ¢ȱȱȱȱȱ ǯȄ ȱȱȱ ȱȱ ȱ¢ȱDZȱȱ ȱȱȱȱ ȱȱȱ ȱȱȱ ȱȱ ȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱȱ ȱȱȱȱ ȱȱŘŖŖŞǰȱ ȱȱȱȱȱǯȱ ȱȱȱȱ ȱȱȱ +RZFDQSURWHFWLRQEHLPSURYHG" ȱĜȱȱ Ȭȱ ¢ȱȃȱȱ ȱȱȱȱ ȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱ ȱȱȱǯȄȱȱ ȱȱȱȱȱȱǰȱ ȱȱȱȱ ȱ ȱȱȱȱȱȱ ǰȱȱȱ -HVVLFD.HUDOLV MPNHUDOLV#JPDLO ȱȱ ȱȱ¢ȱȱȱ ȱ ȱȱǯȱȱȱ FRP LVD3XEOLF+HDOWK6XUYHLOODQFH ǯȱȱȱȱȱȱȱ ȱȱȱ¢ȱ 6SHFLDOLVWZLWK0F.LQJ&RQVXOWLQJ ¢ȱȱǰȱȱȱȱ ȱȱȱǰȱȱ ZRUNLQJZLWKWKH7H[DV'HSDUWPHQW ȱȱ¢ȱ ȱȱȱȱ ęȱȱȱȱǯ RI6WDWH+HDOWK6HUYLFHVLQ$XVWLQ ǰȱȱȱȱĞȱȱȱ 7H[DV7KLVDUWLFOHLVZULWWHQLQD ȱ ȱ ȱȱȱȱ ȱ ȱȱ SHUVRQDOFDSDFLW\DQGGRHVQRWUHÁHFW ǰȱ¢ȱȱȱ ȱę¢ȱȱȱ WKHYLHZVRI0F.LQJRU7H[DV'6+6 ȱȱęȱȱ¢ȱǯȱȱ DZȱȱȱȱ ȱ ȱȱǰȱ ȱȱȱ ȱȱȱȱȱ 6HH)05¶6H[XDOYLROHQFH ǰȱȱȱȬȱȱ ȱȱ ȱȱ ZHDSRQRIZDULPSHGLPHQWWR ȱȱ¡ȱȱȱȱ ęȱȱȱȱȱȱȱ SHDFH·RQOLQHDWKWWSZZZ ǯȱȱȱȱDZ ȱȱ¢ȱĴȱȱĴǯ IPUHYLHZRUJVH[XDOYLROHQFHKWP ŗǯȱȱȱȱ ȱȱȱȱ ȱ¡ȱ ȱȱȱ ȱȱȱȱDZȱ ȱȱ ȱȱȱȱȱȱȱ¢ȱȱȱ ¢DZȱȱȱȱȱ ȱ ȱȱȬȱ ǯȱȱȱȱȱȱ ȱǰȱȁȱęDZȱ ȱȱȱǰȂȱȱŘŝǰȱȱ ȱ ȱȱȱȱ ȱȱȱȱȱ ĴDZȦȦ ǯ ǯȦȦŘŝȦŗŖǯ ȱ¡ȱȱȱȱ ȱȱȱ ȱȱȱ Řǯȱ ȱ ȱ ȱ ȱ¡ȱ ǰȱȁ ǰȱȱ ȱȱ ȱDZȱȱ ȱǯȱȱȱȱ ȱȱǯȱȱ¢ȱȱȱȱ ȱȱ¡ȱȱȱȱȱ ȱȱȱȱ ȱȱȱ ȱ 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ŘŖŖşǯȱȱȱȱȱěȱ ȱȱ &RPPXQLW\PHPEHUVZLWKODQGSUREOHPVORRNLQJIRUDVVLVWDQFH.LWVKDQJD0DVLVLWHUULWRU\ ȱȱȱĚȱ ȱȱȱ¢ȱȱ ȱ¢ȱ¢ȱ¢ȱ ȱȱȱǰȱ ȱǰȱȱȱȱ ȱ ȱȱ¢ȱȱȱ ȱȱȱȱȱ ȱ ȱ¢ȱĚȱȱ ȱǰȱ¢ȱȱ ȱȱȱȱǯȱ ȱȱȱȱȱȱ ȱȱȱǯȱ ȱȱ ǰȱ ȱȬĚȱǰȱȱ ȱȱȱȱȱ ȱ¡ǰȱȱȱȱȱ ȱȱȱȱȱ ǯȱȱ ȱ ȱȱ ȱ ȱȱȱ ȱȱȱ ȱ Ğȱȱ¢ȱȱ ȱȱ ȱĚȱȱȱȱȱ ȱǰȱȱǰȱȱȱ ȱȱ ȱęȱȱ ȱȱ ȱȱȱ ȱȱȱ¢ǰȱȱȱ ȱǰȱȱȱĞȱ ¢ȱȱȱȱ¢ȱ ȱȱȬȱĚȱ ȱȱȱȱ ȱȱ¢ȱĴǯȱȱ ȱȱȱȱȱ¡ǯȱȱ ȱȱ¢ȱǯȱ ȱȱȱȱȱȱ ȱȱ ǰȱĚȱȱȱȮȱ ȱ¢ȱȬ ȱȱ ȱ Ğȱȱȱ¢ȱȮȱȱȱ¢ȱ ȱȱȱĚȱȱȱ ȱȱȱ¢ǯȱȱěȱ ȱǯȱȱȱȱ ȱȱ ȱ ȱ ěȱȱȱȱȱ ȱȱȱȱĚȱȱ ȱȱȱȱȱȱ ȱ ȱȱ ȱȱ ȱ ȱȱȱȱȱȱȱ ǯȱȱȱ¡ȱ ȱȱȱĚȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱȱȱȱ ¢ǰřȱ¢ȱȱȱȱ ȱȱȱȱȱ ȱȱěȱȱȱ ȱȱǰȱȱ £ȱȱȱ ȱȱȱȱȱ ȱęȱȱ ȱȱȱ ȱȱĚȬěȱȱȱ ȱ¢ȱȱȱȱ ȱ¢ȱ ȱȱ ȱȱǻǼȱ¢ȱ ȱ ȱȱȱȱȱȱĚǯȱ ȱȱȱȱȱȱ ȱȱ ȱȱȱȱ ȱ¢ȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱ ȬĚȱȱȱ ȱ ȱȱȱȱȱȱ ȱǯȱȱȱȱ ȱȱȱȱ¢ȱȱ ěȱ¢ȱȱĚǯȱ ȱȱȱȱȱ Ě¡¢ǰȱȱȱȱ ȱȱȱȱȱȱ ȱ¢ȱǰȱȱ¡ǰȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱȱȱȱ ȱȱŗşŝřȱȱȱȱ ȱȱ ȱȱȱǯȱ ȱȱȱȱ ȱȱȱȬȱ ȱȱȱȱĚǯ ȱȱȱ¢ǯȱǰȱȱ ȱȱȱȱȱȱ ȱȱȱȱě¢ȱ ȱ¢ǰȱȱȱȱ ȱȱȱȱ ȱȱǰȱ¢ȱȱȱ ȱȱȱȱȱȱȱ ȱȱ ȱȱȱ ȱ ȱȱȱ ȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱ ¢ȱȱȱȱ¢ǯȱ ȱ ¢ȱȱȱ ȱȱȱ ȱȱȬĚȱȱȱ ȱȱȱȱȱȱ ȱ ȱȱȱȱ ¢ȱȱȱȱȱȱ ȬĚȱǯȱȱ¡ǰȱ ȱ ȱȱȱ ȱȱǯȱȱ ȱ ȱěȱȱȱȱ ȱ ȱȱȱȱǰȱ ȱȱ ȱ ȱȱȱȱȬĴȱ :HDNQHVVRIWKHPHDQVDYDLODEOH ȱȱȱȱ ǰȱ ǯȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱȱǻȱȱ ȱȱȱ ȱ ȱ¢ȱȱęȱȱȱ ȱȱȱ ȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ¢ǼȱȱȬȱǰȱ śřǰŖŖŖȱȱȱ ȱȱ ȱĴȱȱȱȱ ȱȱȱǯȱ ȱ ȱȱȱȱȱ ǯȱ ȱȱǯȱȱ ȱ ȱȱ ȱȱ ȱȱ¢ȱȱ¢ȱ ȱȱȱȱȱȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱȱ ȱ ȱȱ ȱȱȱ ȱǰȱę¢ȱȱ ȱȱ¢Ȃȱȱȱ Ȭ¡ȱȱȱȱ ȱ ȱȱ ȱȱȱ ȱǰȱȱ¢ȱȱ ȱȱȱȱ ȱȱȱ ǰȱȱȱȱ ȱȱȱȱ¢ȱȬ ȱȱȱȱȱȱ ¢ȱȱȱ ǯȱǰȱȱȱ ȱ¢ȱȱȬȱǯȱȱ ȱȱȱȱ ǰȱ ȱ ǰȱȱȬ ȱ ȱ¡ȱȱȱȱ ȱ ǰȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱȱȱȁȱȂȱȱ ȱȱ ȱȱȱ ǯȱ ȱȱȱȱ ȱȱȱȱȱ ȱȱȱ¢ǯȱ ȱ ȱȱȱȱ ȱ ěȱȱȱȱ ȱȱȱȱ ȱȱȱȱ ȱȱĚȱȱȱȱȱȱ ȱȱȱȱȱȱ ǯȱȱǰȱȱȱ ȱȱȱȱ¡ȱȱ ȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱ ǯȱ ȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱ ȱ ȱǰȱȱ ȱȱ ȱȱȱȱȱǯȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱȱ ȱ ȱȱ¢ȱȱ ȱȱȱȱȱ ȱȱ ȱȱęȱȱ ȱ¢ǰȱȱ ȱȱȱȱ ȱȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱ¢ȱ ȱȱȱȱ ȱȱȱȱȱȱȱȱ ¢ȱȱȱȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱȱ ȱȱ ȱȃȱȱȱȱȱȄǯ ȱȱ¢ȱȱȱȱ ǯȱȱ ȱȱȱ ȱȱȱȱȱȱ ȱȱȱ¢ȱȱ ȱ ȱȱȱȱ ȱȱ ȱȱ ȱȱȱȱȱȱȱ ȱȱȱĚȱȱȱ ȱȱȱȱȱ ȱ¢ȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱ¢ȱȱȱȱ ȱ ȱȱȱĜ¢ȱȱ ȱ¢ȱȱȱȱ ȱ ǯŚȱȱȱ ȱȱ ȱȱȱȱȱ ȱȱ ȱ ȱěȱȱȱ ȱȱȱȱ ¢ȱȱĚȱ ȱȱ ȱȱȱȱȱȱ ȱȱ¢ǯ ȱȱȱǯȱȱȱȱ ȱȱǯȱȱ ¢ȱȬ ȱȱȱȱ 2XPDU6\OOD RXPDUV\OOD#XQKDELWDW ȱȱȱȱȱȱ &RQFHUWHGDQGFRRUGLQDWHGDFWLRQ RUJ LV+HDGRI(DVWHUQRIÀFHIRU81 ȱȱȱȱȱ ȱ¢ȱȱȱ ¢ȱ +$%,7$7LQ'5& ZZZXQKDELWDWRUJ ¢ǰȱ ȱȱȱȱ ȱȱȱȱȱ ŗǯȱĴDZȦȦ ǯǯȦŜȦȏ ȱ¢ȱȱȱ Ěȱȱȱ ȏȏǯȱǻǼȱ ¢ǰȱ¢ȱǰȱȱȱ ȱȱȱȱȱ ŘǯȱȬ ȱȱȱȱřŖŖȱȱĚȱ ȱȱȱȱŘŖŖşȱȱȱȱ ȱǯȱ ǰȱȱȱ ȱȱ ȱ¢ȱ ȱǯ ȱȱȱȱȱ ȱ ȱȱȱȱǯȱȱ řǯȱĴDZȦȦ¢ǯȦȬ ¢ȱȱȱȱ ȱȱ¢ȱȱ ŚǯȱĴDZȦȦ ǯǯȦȬǯ '(02&5$7,&5(38%/,&2)&21*2 )05 /DQG,'3VDQGPHGLDWLRQ %DSWLVWH5D\PRQG 8QPDQDJHGUHVHWWOHPHQWRI,'3VLQHDVWHUQ'5&PLJKW ȱȱȱȱ WKUHDWHQDQDOUHDG\IUDJLOHVHFXULW\VLWXDWLRQ ǰȱ¢ȱȱ ȱȱȱȱ ȱȱȱȱ¢ȱ ȬȱĚȱȱȱȱ ¢ȱȱȱȱ¡¢ȱȱ ǯȱȱȱȱȱ ȱȱȱȱȱȱǰȱ ȱ¢ǰȱȱȱȱȱȱȱ ǰȱ¢ȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱĴȱ¢ȱ ȱȱȱ ǰȱȱ ȱȱȱȱȱ ȱȱȱ¢ȱȱȱȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱȱ ȱ ȱ ȱȱǯȱȱ ȱȱȱ¢ȱȱǯȱ ¢ȱ¢ǯȱȱȱȱȱ ȱȱĚȱȱǰȱ ȱ ȱ¢ȱȱȱǰȱ ¢ȱȱȱȱ¢ȱȱ¢ȱ ȱȱ ǰȱȱȱ ȱ¢ȱȱȱ¢ȱ ȱȱȱȱȱ ȱȱ ȱ ǰřȱȱȱȱȱ ȱȱȱȱȱǯȱ¢ȱ ¢ǯȱǰȱ¢ȱ¢ȱ ȱȱ ȱȱȱȱ ȱȱȱȱ¡ȱȱ ȱȱȱȱȱȱ ȱȱ ȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱ ȱȱȂȱȱ ȱȱǰȱ¢ȱȱȱȱ ȱ ǯȱǰȱȱȱĴȱ ȱȱǰŚȱȱȱ ȱ ǰȱȱȱ¢ȱ ȱȱ ȱȱȱȱȱȱ ȱȱ ǯȱ ȱȱȱ ȱȱȱȱȱ ȱȱȱȱĴȱȱȱ ȱȱǻ¢ȱȱ ¢ǯȱ ȱȱ¢ȱ¢ȱǯ ǰȱȱ¢ȱȱȱȱ¢Ǽȱ ȱȱȱȱ ȱȱȱ ȱȱȱ ȱȱȱȱ ȱȱȱȱ£Ȭ ¢ȱŘŖŖŞȱ ȱȱȱ ȱǰȱȱȱ¢ȱȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱȱ ȱȱȱ¢ǰȱȱ ȱȱȱȱ ȱȱǯȱ ,5,1/LVD&OLIIRUG ȱȱȱȱȱ ȱȱǯȱ Ȃȱ :KDWUHDOO\PDWWHUV ȱȱŘŖŗŖȱȱȱȱȱȱ ȱȱȱĴȱȱ ŞŖƖȱȱȱ¢ȱȱ ȱȱȱ¢ȱȱȱ ȱȱ¢ȱȱȱ ȱ¢ȱȱȱ ȱ¢ȱȱǯȱ ȱȱǰȱȱȱǰȱ 7KHIHUWLOHKLOOVRI0DVLVLGLVWULFWLQ1RUWK.LYX ȱȱȱȱȱȱȱ ȱȱȬ ȱȱ ȱȱȱȱ ¢ȱȱȱȱ ǯȱĜ¢ȱȱȱ ȱȱȱȱȱ¢ȱ ȱȬȱĚȱȱ ȱȱ ȱȱȱȱ ȱȱ¢ȱǰȱǰȱ ȱȱȱȱȱȱ ¢ȱȱȱDZȱ ȱȱȱȱȱȱ ȱ ȱȱȱȱ ȱ¢ȱȱȱǰȱ ȱǰȱȱȱȱ ȱȱ¢ȱĚȱ ȱ¢ȱȱȱȱȱ ȱȱȱȱȱěǰȱ ȱȱȱĴȱ ȱǰȱȱȱȱ ȱȱ¢ȱȱȱ ȱ¢ȱȱǯȱȱ ȱ ȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ¢Ȭ ȱȱȱȱȱȱ¢ǯȱ ȱȱĚȱǯȱȱ ǰȱȱȱȱȱȱȱ ǰȱȱ ȱ¢ǰȱȱȱ ¢ȱǯȱȱ¡ǰȱ ȱĴȱěȱȱ ȱȱȱ¢ȱȱȱ ȱȱȱȱ ȱȱǯȱ ǰȱȱ ȱȱȱ ȱȱȱŘŖŖşȱȱ ȱ ȱ¢ȱȬ ȱȱ ȱȱȱȱȱ ȱȱȱ¢ȱȱȱĚȱ ȱŗŞřȱ¢ȱȱȱȱȱ ěȱȱȱȱȱ ȱȱȱȱ ȱȱ ȱǰȱ ȱȱȱȱ ȱ ȱȱȱȱȱ ȱǯȱ ȱȱȱȱ ¢ȱ ȱ¢ȱ ȱȱ ȱǯŗ ȱ¢ȱȱȱǰȱ ȱ ȱȱȱ ǰȱȱȱ ȱȱȱȱȱȱȱȱ ¢Ȭȱȱǰȱ ¢ǰȱȱȱ¢ȱȱȱ ȱȱȱȱǯȱȱȱ ȱȱ¢ȱȱ¢Ȭ ȱȱȱȱȱȬȱ Ěȱȱȱȱ ȱȱȱȱȱȱ Ěǯȱȱ ȱȱȱȱ ȱȱǰȱ ȱȱ ǰȱȱȱȱ ȱȱ¡ȱȱȱȱ ȱ¢ȱȱęǯȱ ȱ ȱĴȱȱȱ ȱȱ¡¢ȱȱǰȱȱ ǰȱȱȱȱȱ ȱȱĜȱȱ¡ȱǯȱ ȱ¢ȱȱ ǰȱ ȱ ȱȱ ȱȱȱ¢ȱȱ ȱȱȱ ȱȱ¢ȱȁȂȱ ¢ȱȱĴȱȱȱ ǰȱȱȱȱ ȱȱȁ Ȃȱȱȱȱ ȱȱȱȱȱ ǯȱ ȱȱȱǰȱ ¢ȱȱȁȂǯŘȱȱȱȱȱȱ ȱǰȱ¢ȱ¢ȱȱ ¡ȱȱȱȱȱȱ ȱȱȱȱ ȱȱ¢ȱȱȱȱǰȱ ȱ¢ȱȱ ȱȱ ȱ¢ȱǯȱ ȱȱ ȱȱĞȱȱȱ¢ȱȱ ȱȱȱȱ ȱ ǰȱȱȱȱĞȱ ȱȱȱ ǯȱȱȱȱǰȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 Ěǯȱ ǰȱȱȱȱȱ ȱ¢ȱȱȱȱȱ ǰȱĚȱȱ ¢ȱȱȱȱȱȱ ȱ¡ǯȱ ȱȱȱȱ ȱȱȱ¢ǰȱ ȱ ȱ ȱȱȱ ȱȱȬ ȱȱ ǰȱȱȱȱ ȬȱĚȱ¢ȱȱ ȱȱȱȱȱǰȱ ȱȱȱȱȱ ȱȱȱĚǯȱ ȱ ȱȱȱȱ¢ǰȱ ȱȱȱěǯȱ ȱ ȱȱȱȱȱȱ ¢ȱěȱȱȱȱ ȱȱȱȱǰȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱ ȱ ȱȱȱȱȱ ȱ ǰȱȱȱȱȱ¢ȱ ȱĴȱ ȱDZȱ ȱȱȱȱȱȱ ȱȱȱȱ ǯȱ ȱȱȱȱ Iȱȱȱ ȱȱȱȱ¢ǰȱ ¢ȱȱǰȱȱȱ ȱ ȱȱ ȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱǯȱ ȱȱȱȱȱȱ Iȱȱȱ ȱȱȱȱȱ ȱĴ ȱ¢Ȃȱȱȱȱȱ ȱȱǯȱ ȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱȱ Iȱ¢ȱ ȱ Ȭȱ ȱ ǰȱȱ ȱ¢ȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱȱȱ¡ȱ ȬȱĚ ǯȱȱ¢ȱȱȱ ȱȱ ȱȱȱǰȱ ¢ȱȱȂȱȱȱ ȱȱęȱȱ Iȱȱȱ ȱȱ ȱȱȱ ȱȱȱDZ ǰȱȱȱȱȱȱ ǰȱ ȱȱȱȱȱȱ ȱȱǯȱȱ ȱȱȱȱ ȱ I¢ȱȱȱȱȱ %DSWLVWH5D\PRQG ESUD\PRQG# ȱȱȱǻȱȱȱ ȱȱȱȱȱȱǰȱ JPDLOFRP LVDJUDGXDWHVWXGHQW ĞȱȱȱȱǼǯȱ ȱȱȱ ȱ DW&ROXPELD8QLYHUVLW\,QKH FRQGXFWHGUHVHDUFKRQGHIRUHVWDWLRQ ȱ ȱȱȱȱ Iȱ¢ȱȂȱ ODQGRZQHUVKLSSDWWHUQVDQGFRQÁLFWVLQ ¢ȱȱȱȱ '5&ZLWK&ODULVVD%DOGLQDQG6HYHULQH ȱȱȱȱǰȱȱȱȱȱ I¢ǰȱȱȱ¢ȱȱ /RVHPEHLQSDUWQHUVKLSZLWKWKH ȱȱȱ¢ǯȱȱ ¢ȱȱ $JHQFH)UDQoDLVHGH'pYHORSSHPHQW ȱȱȱ ȱȱȱȱȱ ȱȱ ȱȱȱǰȱ ȱȱ ŗǯȱĴDZȦȦ ǯǯȦ ȬȦȦ ¢ȱ ȱ¢ȱȱȱ ȏȏřǯȱ ŘǯȱȁȱȂȱȱÉȱȱȱȱȱȱȂȱ ȱȱȱȱ Ȭęȱ Iȱȱ ȱȱ ĴDZȦȦ¢ǯȦȬȬȬ ǯȱȱȱȱȱȱȱ Ĵȱěȱȱȱ řǯȱĴDZȦȦ ǯȬǯȦȱ ȱȱȱȱȱ ¢ȱȱ¢ȱ¢ȱ Śǯȱ··ȱȱȱȱȱ ȱȱȱȱȬ ȱĴDZȦȦ ǯǯȦ 1RWJRLQJKRPHGLVSODFHG\RXWK DIWHUZDU 7LPRWK\5DH\PDHNHUV ,QSUHSDULQJIRUDSRVWFRQÁLFW'5&ZHVKRXOGEHPRUHDZDUHRI ¢ǰȱ ȱȱȱȱ \RXQJSHRSOH·VDVSLUDWLRQVWKHRSSRUWXQLWLHVRSHQWRWKHPDQG ȱȱȱǻŘŞǯŜƖǼȱȱȱ WKHFKDOOHQJHVWKH\IDFHLQEXLOGLQJDGHFHQWOLIH ęȱȱȱȱȮȱ¢ȱȱĴ¢ȱ ȱǻŚŗǯŜƖǼȱȱȱ ȱȱȱ ȱȱȱȱęȱ ǻŘşǯŝƖǼȱȮȱȱȱȱ¢ȱ ȱȱ¢ȱȱȱȁ¢Ȃȱȱȱ ȱȱȱȱŘŖŖŞȱ ǯȱȱȱęȱǰȱȱ ȱ¢ȱȱȱȱ ȱȱȱȱǻǼȱ ȱ¢ȱȱ¢ȱ ȱȱȱȱȱȱ ȱ¢ȱ ȱȱ ¢ȱȱȱǻŘŝǯśƖǼǰȱĴ¢ȱ ȱȱȱȱ Ĵȱȱȱȱȱ¢ȱȱ ȱǻŗŗƖǼȱȱȱȱ ǯȱȱȱȱȱ ȱȱȱǯŗȱȱȱ ȱǻŜǯŞƖǼDzȱȱȱȱ¢ȱ ȱȱȱȱȁ¢ȱȂȱ ȱȱȱ¡ǰȱȱ ȱȱ¡ȱȱŝŖƖȱȱ ȱȱȱȱȱȱ¢ȱ ȱ¡ȱ Ȭěȱ¢ȱ ȱȱŗŘǯśƖȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ¢ȱ ȱȱǯȱȱ ȱȱȬȱȱȱ ȱȱȱȱ ȱȱȱȱȱ Ěǯȱȱȱȱ ȱȱȱȱȱ¢ȱ ȱȱǰȱȱȱȱ ¢ǰȱ¢ȱĴȱȱ ȱ ǰȱ¢ȱȱȱ ȱȱ¢ȱǻśŘƖǼȱ¢ȱ ȱȱȱ¢ȱ¢ȱȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱȱȱ ȱȱȱȱĴȱ ȱȱ¢ȱȱǯȱ ȱȱȱǯȱȱ ȱȱȱĞȱȱ ǯȱȱȱ ǰȱȱ¢ȱęȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ¢ȱǻşŞƖǼȱĞȱȱȱ ȱ¢ȱȱȱȱȱ ȱȱȱȱȱ ȱȱ ȱȱȱ¢ȱǯȱ ¢ȱȱ¢ǯȱȱ ȱȱȱȱȱ ȱȱȱȱ¢ǯȱ ȱȱȱ¢ȱ ȱȱȱ¢ȱěȱȱȱ ȱ¢ǰȱȱ ȱ¡ǯȱȱęȱȱ ȱȱȱȱȱȱ ȱȱȱęȱȱ ȱ¢Ȃȱȱȱ ȱ¡ǯȱȱȱȱ ȱȱȱȱǰȱ ȱȱȱȱǯȱ ȱȱȱȱȱ ȱȱȱȱȱ ¢ȱȱȱǰȱȱ ȱȱȱȱ ȱȱǰȱ ȱ¢ȱ¢ȱȱȱ ȱ¢ȱȱȱ ¢ȱ ȱȱ¢ȱ¢ȱ ȱȱǯȱȱȱȱ ǰȱ ȱȱȱȱȱȱ ¢ȱȱȱȱȱȱ ȱȱ¢ȱȱȱȱ ȱȱȱȱ ȱǰȱȱ¢ȱȱ ȱȱ¢ȱȱȱȱȱ ¢ȱȱȱȱȱȱ ȱȱȱȱȱǰȱȱ ȱȬȱȱȱȱ ȱȱȱȱ¢ȱǰȱȱ¡ǰȱ ȱȱǯȱ ȱȱȱȱȱ ȱȱȱȱȱȱȱȱ ȱȱȱǻȱ ȱȱȱȁȱ¢Ȃǰȱȱȱ ȱȱȱȱȱȱ ŚŖƖǼǰȱȱȱȱȱ Ĝ¢ȱȱȱȱ ȱ¢ȱȱȁȱȂŚȱ ȱȱ ȱǻŗŝƖǼǰȱȱ ȱȱȱȱ ȱȱȱȱȱǯȱ ȱǻŗŖƖǼȱȱȱ ȱȱ ¢ȱȱ ȱ ȱȱ ȱǻŗŖƖǼǯȱȱȱȱȱ ȱȱǯȱȱȱ ȱȱȱȱȱȱ ¢Ȃȱȱȱȱȱ ȱĴȱȱȱ ȱȱȱȱ ȱȱȱȱ ¢ȱȱȱȱȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱ ȱȱȱ ȱǰȱȱȱȱ ȱȱĞȱȱ¢ȱ ǻǼȱȱȱȱ ȱȱ ȱ¢ȱȱ¢ȱ ȱȱ¢ȱǰȱ ȱ ǰȱȱ ȱȱĴȱȱ ȱȱȱǻǼȱ ȱȱȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱ¢ȱ ȱȱȱȱȱ ȱȱȱĴȱȱ ȱǯȱ ȱȬȱ ȱȱȱȱȱȱ ȱȱȱȱǰȱ ǰȱȱȱȱ ȱȂȱȬȱ¢ȱ ǻǼȱȱ¢ǯȱ ȱ ǰȱȱȬȱ ȱȱ¢Ȃȱȱ ȱȱȱȱȂȱȱ ȱȱȱȱ ȱȱȱȱȱ ¢ȱȱȱǰȱȱ ȱȱ ȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȁȂȱ¢ȱ ȱȱǰȱ ǰȱȱȱ ȱȱȱȱ ¢ȱȱ¢ȱȮȱ ȱȱ¢ȱȱ¡ȱ ȱȱȱȱȱ Ěȱȱȱȱȱȱ ȱǯȱȱȱȱȱ ¢ȱȱȱȱĞȱ ȱȱȱȱ ǯŘȱ ȱȱȱȱȱ ȱȱȱ¢ǯȱ ȱȱ¢ȱȱȱȱ ȱȱȱȱȱǰȱ ȱȬ¡ȱǰȱȱȱ 7LPRWK\5DH\PDHNHUV 7LPRWK\ ȱȱȱȱ¢Ȃȱ ȱȱȱȱȱȱ 5DH\PDHNHUV#JHRX]KFK LVD ȱȱȱȱǯȱ ȱĚȱǯřȱȱ OHFWXUHUDWWKH'HSDUWPHQWRI ȱȱ¢ȱ¢ȱ ȱȱǻ ȱ¢ȱȱȱ *HRJUDSK\DWWKH8QLYHUVLW\RI ěȱȱȱ¢ȱȱȱȱ ȁ ŞȂǼȱ ȱȱȱȱȱ =XULFK KWWSZZZJHRX]KFK ǰȱȱ¢ȱ ȱ¢Ȭȱȱȱ Ğȱęȱȱȱȱȱ ȱȱȱȱȱ¡ȱ 7KDQNVWRP\&RQJROHVHUHVHDUFK ȱȱȱȱǰȱ ȱ ȱȱȱȱ WHDP XQGHUWKHVXSHUYLVLRQRI'U0HQL ȱȱȱȱ¢ȱȱ ȱȱȱȱ ȱǰȱ 0DOLNZLVKD WRP\0DVWHUVVWXGHQWV ȱǯȱȱȱ ȱȱȱȱ SDUWLFXODUO\/HQQDUW9DQGDPPH ȱȱȱ¢ȱȱ ¢ȱȱȱȱǯȱȱȱ DQG/LHV6DFUp DQGWRWKH(XURSHDQ ȱȱȱȱȱȱ¢ȱ ȱȱȱȱȱȱ &RPPLVVLRQDQG0,&52&21 ȱȱĴ¢ȱȱ ȱȱȱ¢ȱȱȱ ŗǯȱȱȱȱȱřŚŞȱȬĴȱ¢ȱ ȱ¢ȱǰȱȱ ȱȱ ȱ¢ȱĜȱȱȱȱ ǻŗşŖȱȱȱŗśŞȱȱ Ǽȱȱȱȱȱ ¢Ȃȱȱȱȱȱȱ ȱȱȱȱȱȁȂȱ¢ȱ ¢ȱ ȱȱ¢ȱȱȱȱȱȱ ¢ȱǻ¢ǼǰȱȱŗśȬřŜȱ¢ȱǻ ȱȱ ȮȱȁȱěȱȱȂǯȱȱ ǻȱęȱȱȮȱȱȱ ¢ȱȱŗŞȬŘŜǼǯ ¢ȱȱȱȱ¢ȱ ȱȮȱȱȱ¢ȱ ŘǯȱȱȱřŚȱȁȱȱȱȂȱ ȱȱȱȱȱ ȱȱǼǯȱȱȱ ĴDZȦȦ ǯ ǯȦȬȦȱ řǯȱȱ¢ǰȱȱǻŘŖŖŘǼȱȁ ȱǯȱȱ ȱȱ¢ȱȱǻ¢ȱ ȱȱȱȱȱȱȱ ȱȱȂȱȱȱ¢Ȃǰȱ ȱ¢ȱǼȱȱȱǰȱ ȱȱȱȬǰȱȬȱ ǰȱȱ DZȱȱ ĴDZȦȦ¢ǯȦ¢ŘŖŖŘȱȱǻŘŖŗŖǼȱ ȱȱȱǻȱȱ ȱȬȱȱęȱ ȁȱȱǵȱȱȱȱȱȱ £ȱǼȱȱȱȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȬȱȂǰȱȱ ȱǰȱ ¢ȱǻŚŗȦŚǼȱȱ ȱǻ¢ȱ Ȃȱ Ǽȱȱȱ ȱȁ ŞȂȱǯȱ ȱ ĴDZȦȦ¢ǯȦ¢ŘŖŗŖ ȱȱȱȱȱ ¢ȱ¢ȱȱȱ ŚǯȱȱǰȱȱǻŘŖŖřǼȱȁǰȱ ǰȱȱȱDZȱ ǰȱǰȱȱȂȱȱ ȱ¢ȱ¢ȱǻǼȱ ȱȱȱȁȂǯȱ ǰȱȱȱȱǰȱȱȱ¡ȱȱȱ ȱ ȱȂȱ¢ȱǯȱ DZȱȱȱȱ¢ȱȱĚȱȱȱ ,PSOLFDWLRQV ȱǰȱ ȱȱ ȱȱȱ ȱȱȱ¡¢ȱȱȱ ǰȱȱǰȱŘśȬŚŜȱȱ ȱȱǰȱǰȱ ȱȱȱȱȱ ĴDZȦȦ ǯ ǯȦȦȦŗǯȱ ȱȱ¢ȱȱ ȱǯȱȱȱȱǰȱ ȱȱȱȱȱ¢ȱȱ ȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 (YLFWLRQVIURP'5&·VSURWHFWHGDUHDV .DL6FKPLGW6ROWDX 7KHUHLVDQLQFUHDVLQJQXPEHURISHRSOHZKRDUHEHLQJ ȱȱȱ HYLFWHGIURP'5&·V¶SURWHFWHGDUHDV·ERWKE\WKHJRYHUQPHQW ȱęȱȱȱ¢ȱȱ DQGE\LQWHUQDWLRQDOFRQVHUYDWLRQRUJDQLVDWLRQV ȱȱȱȱǻȱȱȱ¢ȱ ȱȱ ȱ¢ȱǼȱ Ȭȱȱ ǰȱ ǰȱęĴȱĴȱ ȱȱȱȱȱȱĴȱ ȱ¢ȱȱȱ ȱȱȱȱ ȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ěȱȱȱȱȱȱȱ ȱȱȱȱǯȱȱȱ ȱȱĴȱ ȱȱȱȱ ¢ȱȱŗŝȱȱȱȱȱȮȱ ȱǰȱęȱȱȱ ȱȱ ȱȱȱȱ ȱ ¢ȱŘśƖȱȱȱȱǯȱ ȱ ȱȱȱȱȱ ȱȱȱĴǯȱ ȱȱȱ ȱȱ ȱȱDzȱȱȱȱ ȱ ȱȱȱȱȱŘŖȱȱ ȱȱȱȱ ȱȱȱǰȱ ȱȱȱȱȱ ȱȱȱȱȱȱȱ ȱşǰŖŖŖȱȱȱȱ ȱ ȱȂȱ¡ȱȱȱȱ ȱȱȱȱȱěȱ ȱȱȱȱȱȱȱ ȱśŝȱȱȱǰȱ ȱ £ȱę¢ȱǯȱȱȱ ȱȱȱȱȱȱ ȱȱȱŘŖȱȱǰȱ ȱȱȱȱȱȱ £ȱȱȱ¢ȱ ȱȱ ¢ȱȱȱęȱȱ ȱȱȮȱȱ¢ȱ ȱȱȱǯȱĞȱ ȱȱȱ ȱȱȱȱ Ȯȱ¢ȱ¡ȱȱȱ ǰȱȱ ȱȱ ȱȱȱȱȱȱȱ ȱ ȱǯȱ ȱȱ¡ȱ ȱĴȱȱȱȱȱȱ ȱȱȱȱǯ ȱȱȱȱȱ¢ȱŗşşŖǰȱ ǯȱȱȱȱ ¢ȱȱȱȱȱȱȱ ȱȱěȱȱȱ ȱȱęȱ Ĵȱȱȱȱǯȱ ǰȱȱȱ Ȭǯȱ Ȭȱȱȱ ȱȱȱǰȱȱȱȱ ȱ¢ȱȱȱ ȱŘŖŖřǰȱȱȱŗŞŖǰŖŖŖȱ ȱȱȱȱȱ ȱȱ ȱ ȱȱȂȱȱȱ ȱȱȱȱȱȱ ȱȱ ȱȱ ȁȱȱ ¢Ȃȱȱȱȱȱ ȱȱȱȱ¢ȱĴȱ ¢ȱ ȱȱȱȱȱȱ ȱȁȱȱ¢Ȃȱȱȱȱ ȱǻ ȱȱȁȱ ȱȱęȱȱȱĴǯȱȱ ǯȱȱȱǰȱȱ ȂǼȱȱ¢ȱȱ ȱ Ĵȱȱȱȱ ȱ ȱȱ¢ȱǰȱȱ ȱȱȱȱ ȱȱǯȱ¢ȱ¢ȱ ȱȱȱȦȱȱȱ ȱȱȱǻ ǼŘȱȱǯȱ ȱ ȱȱȱȱȱȱȱȱ¢ȱ ȱ¡ǯȱǰȱ ŘŖŖŚǰȱȱȱřśǰŖŖŖȱȱ ȱ ȱȱȱȱȱȱ¢ȱ ȱȱȱȱȱ ȁĴȂȱȱȱȱȬȱ ȱ ȱȱȱǯȱ ǰȱȱȱȱ¢ȱ ȱȱ ǯȱĜȱĴȱ ȱȱȱȱ¢ȱ ȱȱĴȱ ȱȱȱ ȱȱȱ ȱȱȱ ȱȬǰȱȱȱĴȱ ´2XUQHZPDVWHUV«OLNHWKHDQLPDOV ȱȱȱ ȱ ȱȱȱȱ PRUHWKDQKXPDQVDQGGRQRWPLQG ȱȱȱȱȱ ȱȱȱȱěȱ WKDWSHRSOHVXIIHUDVORQJDVWKH ȱǰȱęȱȱ ȱȱȱȱǯȱ DQLPDOVDUHKDSS\µ0EXWLOHDGHU ȱǰȱȱȱȱȱ ȱȱĴȱȱ ȱȱȱ¢¢ȱȱ ȱȱȱ¢ȱȱȱ ȱȱ¢ȱȱ ȱȱȱȱǰȱ ȱȱȱȱǯȱȱ ¢ȱȱ ȱȱȱ ȱȱȱȱȱěȱ ȱȱȱȱȱȱ ȱȱȱȬȱ ȱ ȱȱȱȱ¢ȱ ȱŘŖŖŜȱȱŘŖŖŝȱȱȱ ȱȱ ȱȱȱȱ ȱȱȱ ȱȱ ¢Dzȱȱȱȱȱ ȱ ¢ȱȱȱ ȃ¢ȱȱȱȱȱ ȱȱȱȱȱ¢ȱȱ ȱȱǰȱȱ ¢ȱȱȱȱȱ ȱǰȱȱȱȬǯȱȱ ȱ¢ȱȱȱȱ ȄȱȱȱȱȱĴȱ ȱȱȱȱ ¢ȱȱ¢ȱ ȱȱȱ ȱȱȱȱȱěȱ ´)LUVW0REXWR·VPHQORRWHGWKH Ğȱȱȱ¢ȱȱ ȱ ȱ¢ȱȱȱǯŗȱ ODQGWKHQ%HPED·VJDQJWKHQWKH ȃ ǰȱȱȱȱȱȱ 6XGDQHVHWKHQWKH/RUG·V5HVLVWDQFH ȱ¢ȱȱȄřȱȱȱ ȱȱ ȱȱȱȱȱȱ $UP\DQGQRZLWLV$IULFDQ3DUNVµ ȱȱĚȱȱȱǯȱȱȱȱ ȱȱȱȱȱȱ 1XQIURP)DUDGMHQHDUWKH*DUDPED ȱǰȱȱȱŗşŘśȱȱ 1DWLRQDO3DUN .DL6FKPLGW6ROWDX 6FKPLGW6RO# ȱȱȱǯȱ DROFRP LV'LUHFWRUDW6RFLDO ĞȱȱȱŗşŜŖǰȱȱ 6FLHQFH6ROXWLRQV ȱȱȱǻ¢ȱ ȱȱȱȱȱȱ ŗǯȱĴDZȦȦ¢ǯȦȬŚȬŗŘȬ ȬĴ ȱȱȱǼȱȱ ȱ Ȭȱȱ¢ȱ ŘǯȱĴDZȦȦ ǯǯȱ ȱȱǯȱȱȱ ȱȬȱȱȱȱ řǯȱȱȱȱ¢ȱȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 3UHVVJDQJHGFKLOGUHQ $[HO3RXOODUG $GGUHVVLQJWKHIDWHRIFKLOGUHQZKRDUHUHFUXLWHGLQWRDUPHG 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ȱȱȱȱȱȱǯȱ ȱȱ ȱȱȱ ȱ ȱȱęȱȱȱȱȱ ȱȱ¢ȱȱȱȱȱ ǰȱȱȱ¢ȱ ȱǰȱȱȱȱȮȱȱ ȱȱȱȱ¢ȱ ȱȱǰȱȱȱȱ ȱǰȱȱȱ¢ȱȮȱ¢ȱ ȱȱȱȱȱȱǻǰȱȱ ȱȱ ȱȱ ȱȬȱ ȱȱ ȱǼȱȱȱȱ ȱȱȱȱȱ ȱȱȱ¢ȱǰȱ ȱǯȱ ȱȱȱ ȱȱȱȱȱ ȱ¢ȱȱ ȱ ȱȱȱȱȱ ȱȱȱǯȱ ǰȱȱȱȱ ¢ȱȱȱȱȱ ȱȱ¢ȱȱȱ ȱ ȱȱȱȱȱ¢ȱ ȱȱȱǰȱȱ ǯȱĞȱȱȱȱ ȱȱȱȱȱǯ ȱȱȱȱȱȱ¢ȱ ȱȱĴȱȱ¢ȱȱ ȱ ȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱ¢ȱȱ ¢ȱȱȱ¢ȱȱ ȱȱȱ ȱǰȱȱ ¢ȱȱȱǯȱ ȱ ȱȮȱȱ¢ǰȱȱǰȱȱ ȱ¢ȱȱȱȱȱȱ ȱȱȱȱȱȱ ¢ȱȮȱȱȱȱȱȱǯȱ ȱȱ ȱȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱęȱȱȱȱȱȱ ȱȱȱȱȱ ȱ ǯȱȱȱ ȱȱ ȱȱȱǰȱȱȬ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱȱ¢ȱ¢ȱ ȱęȱǯȱȱ¢ȱȱ ȱȱȱȱȱȱ ȱȱȱȱǯ ȱȱȱ¢ȱ ȱȱȱǰȱ ȱȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱǯȱȱ ȱȱ ȱȱȱȱȱ ¢ǰȱȱȱ ȱȱȱȱȱĴȱ ěȱȮȱȱȱȱęȱ ȱȱȱ ǰȱȱȱ ȱȱȱȱȱȱ ȱȱȱȮȱ ȱȱȱȱȱ ȱȱȱȱ ȱĜ¢ǰȱȱȱȱȱȱ ȱȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱ ȱȱȱ ȱȱȱǯȱȱ ǰȱȱȱěȱȱ ǯȱȱȱ ȱȱȱ ȱȱ ȱȱȱȱ ȱȱȱ¢ȱȱȱ ȱȱ¢ȱȱȱǞŗŘŖȱ ȱȱȱȱ¢ȱ ȱ¢ȱȱȱȱ ȱŘŖŖŚȱȱȱǞŜśŖȱȱŘŖŖşǯȱ ȱȱȱ¢ȱěȱ ȱȱǰȱȱȱ¢ȱȱ ȱȱȱ¢ǯȱȱȱ ȱȱȱȱȱȱ ȱŘŖŖşȱȱȱ ¡ȱȱěǰȱȱȱ ȱȱȱȱȱ ȱȱȱ ȱ ȱȱȱȱȱ ȱǯȱȱȱ¢ȱȱ ȱĴȱȱȱȱȱ ¡ȱȱǯȱ ȱȱȱȱǰȱȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱȱ¢ȱȱ 5RVV0RXQWDLQLV'LUHFWRU*HQHUDO ȱ ȱ ȱȱ ȱȱȱȱȱ RI'$5$ ZZZGDUDLQWRUJ +H ȱȱȱȬȱȱ ȱȱǰȱȱȱ ZDVSUHYLRXVO\'HSXW\6SHFLDO ȱȱȱǻȱ ¢ȱȱ ȱ¢ȱ ȱ 5HSUHVHQWDWLYHRIWKH816HFUHWDU\ ȱȱǰȱǼǯȱȱ ȱȱȱȱĴȱȱȱȱ *HQHUDODQG+XPDQLWDULDQ&RRUGLQDWRU ȱȱȱȱ ǯȱȱ ǰȱȱȱ LQ'5&IURP+HFDQEH ǰȱȱȱȱȱ ȱȱȱȱ FRQWDFWHGWKURXJKLQIR#GDUDLQWRUJ ¢ȱȱȱǯȱ ǰȱȱȱ ŗǯȱȱ ȱȱęȱDZȱȱ¢ǰȱ ¢ǰȱȱȱȱ ȱȱǰȱȱȱǰȱ ȱȱǰȱȱȱ¢ȱȱ ȱȱȱȱȱȱ ȱǰȱ¢ȱȱǰȱ ȱȦȱȱ¡ȱǯ ȱǰȱȱȱȱ ¢ȱ ȱȱȱȱ ¡¢ȱȱȱęȱȱ ȱȱȱȱ ȱȱȱȱȱȱ ĚȬȱȱȱȱ¢ǯ '5&DGRQRUSHUVSHFWLYH 6HE)RXTXHW 'RQRUHQJDJHPHQWLQ'5&LVPRUHLPSRUWDQWWKDQHYHU² ǰȱ ȱȱȱȱȱ EXWGRQRUVQHHGWRUHDVVHVVWKHLUVWUDWHJLHV ȱȱȱȱȱǯȱ ȱǰȱȱȱȱȱȱ ȱ ȱȱȱȱȂȱ ȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱĴȱ Ȭȱȱǰȱ ȱǰŗȱȱǰȱ ȱ¢ȱȱęDzȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱȱȱȱ ȱȱȱȱ Ȃȱȱ ȱȱ ȱ ȱ ¢ȱȱȱȱȱȱ ȱȱ¢ǯȱ ȱȱȱȱǯȱ ȱȱȱȱǰȱ ȱȱȱǰȱ ȱȱȱ ǯȱȱ ȱȱŘŖŖśȱȱȱȱǰȱ ȱȱȱȱ¢ȱ¢ȱ ȱ¢ȱȱȱȱȱȱ ȱȱȱȱȱȱ ǰȱȱȱȱĴȱ ęȱǰȱȱȱȱȱ ȱǰȱ¢ȱȱȱ ȱȱȱǰȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱǰȱǰȱ ȱȱȱȱȱȱȱ ȱȱȱ¢ȱȱ¢ȱ ĴȱǰȱĴȱȱȱ ȱȱȱ¢ǯȱ ȱǯȱȱ ȱȱȱęȱǯȱ ȱȱȱ¢ȱȱȱ ǯȱ ȱȮȱȱȱĴȱȱ ȱŘŖŖśǰȱȱȱ ¢Ȃȱȱȱȱ ȱȱȮȱȱȱȱȬ ȱȱȱȱȱȱ ȱ¢ȱǰȱȱȱ ȱȱ ¢ȱ ȱȱȱ ȱ¢ȱȱȱȱ ȱȱǰȱȱȬ ȱ ǯȱȱǰȱȱȱ ȱ ȱ ǰȱ ȱȱȱ ¢ǯȱ ȱȱȱȱȱ ȱȱ ǯȱȬȱȱȱ ȱ ȱȱǯ ȱěȱȱ¢ȱ ȱȱȱȱ ǻȱȱȱȱęǼȱ ȱȱȱȱǯȱ ȱŘŖŖśȱȱŘŖŗŖǰȱǞŘǯśȱȱ ȱȱ¢ȱȱȱȱȱ ȱȱǻȱ ȱȱ¢ǯȱȱ ȱȱȱ 6RZKDWQHHGVWRKDSSHQ" ȱǞŚŖŖȱȱȱȱȱŘŖŗŖǼȱ ȱȱ¢ȱ¢ȱ Ĵȱȱȱȱ ȱȱȱ¢ȱȱȱ ȱȱȱȱȱ ȱȱ ȱ¢DZȱ¢ȱǰȱ ȱȱȱǯȱȱ ¢ȱȱȱ¢ȱ ȱǯȱ ȱȱȱȮȱȱȱ £ȱȱȱĚ ȱȱęȱ ȱǯȱ¢ǰȱȱȱ ȱǻȱȱŘŖŖŘȱȱ ȱ ȱȱȱȱ ȱȱȱǻ ǼŘȱ ŘŖŖŜǼȱȱȱȱ¢ȱ ȱȱȱ ȱȱ ȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱǯȱȱȱȱȱ ¢ǰȱȱȱ řŜȱȱȱǻȱȱ ȱȱȱ ¢ȱȱȱȱ ȱ DZȱȱȱȱ ȱǼȱȱȱȱ ȱȱȮȱȱȱȱȱ ȱȱȱ¢ȱȱ ǯȱȱȱȱǰȱȱ¢ȱ ȱȱȱȱȱȱ ȱȱȱ¢ȱȱȱȱ ǰȱȱȱȱȱȱ ȱȱȱȱȱ ȱ¢ȱȮȱȱ ȱȱȱȱȱȱ ȱ ȱȱȱȱȱ ȱȱȱȱęǯȱ ȱ ǯȱ ȱȱȱ ȱȱ ǯȱȱȱȱ ȱȱȱ¢ȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱǯȱȱ ȱȱȱ ȱ¢ȱ ¢ȱȱ¢ȱȱȱȱ ȱȱȱȱ ȱȱ¢ȱ ȱǞŘǯśȱ ȱȱȱǯȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱǯȱ ȱ ȱȱ ȱȱȱ ȱȱǯȱȱ ȱ ȱȱ ȱȱ¢ȱ ȱ ȱȱ¢ȱȱ ȱ ȱȱȱȱȱęȱȱ ¢ȱȱȱȱǯȱ ȱȱȱ ȱȱȱ ȱ¢DZȱȱȱȱȱȱ ȱȱȱȱ ȱȱ ȱȱĴȱȱęǯȱ ȱȱ ȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱ ¢ǰȱȱȱȱȱ ȱ¢ȱȱȱ ȱȱȱǯȱ ȱ ȱȱǻǭǼȱǯȱȱ ȱ¢ȱȱȱȱȱȱ ¢ȱȱȱȱ ȱ¢ȱ ȱȱȱȱǯȱ ȱȱǰȱȱȱȱ ¢ȱȱȱȱ ȱ¢ȱȱȱȱȱ ¡ȱǰȱ ȱȱȱ ȱȱȱȱȱȱ ¢ȱ ȱȱȱȱ ȱ ȱȱȱȱęǯȱ ȱȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱȱȱ ǭȱ¢ȱȱȱȱ ǯȱȱȱȱȱȱ ȱȱȱǯȱ ȱȱȱȱȱȱ ȱĚȱȱȱ ȱǯȱȱȱ ȱ ȱȱȱȬ¢ȱ ȱȱȱ ȱȱȱȱ ȱȱȱȱȱ DZȱȱȱȱ ǻȱ¢Ǽȱȱ¢ȱȱ ȱ¢ȱǯȱ ȱȱȱȱȱ ȱ ȱȱȱǻȱ ȱȱ¡ȱȱ ȱęȱȱȱȱǯȱ ȱ Ǽǯȱȱȱȱ ȱ¢ȱȱ ȱȱ ȱȱ ȱȱȱȱ ȱȱ¢ȱȱȱ ȱȱȱȱǯ ȱȱȱ¢ȱȱ ȱŘŖƖȱȱȱȱ ȱȱȱȱ ȱ ȱȱ ǰȱȱȱȱȱ ȱȱ¢ȱȱȱȱȱ ȱȱȱǰȱȱȱ ǰȱȱȱȱ ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱǯȱ ȱȱȱȱȱ ȱ ȱȱȱȱȱ ǯȱ¢ȱ¡ȱȱĴȱ ȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱDzȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱȱȱȱȱ ȱ ȱ¢ȱȱȱ¢ȱȱ ȱȱȱǯȱȱ ȱȱȱȱȱȱȱ ȱȱ ȱ¢ȱȱȱ ȱȱȱȱ ȱȱȱ¢ȱ ǯȱ ȱȱ¢ȱȱ¢ȱ Ěȱ ȱȱȱ ȱȱȱěǯȱȱ Ȭ ȱȱȱȱȱ ȱ¢ȱǯȱȱ ȱȁ¢ȱ ȂȱŚȱ ȱȱȱȱȱ ȱ ȱȱȱǰȱĴȱ ȱȱȱȱ ȱȱ ȱ¢ȱȱȱ ǰȱȱȱ ȱȱȱȱ¢ȱȱ ȱȱȱĴǯȱȱȱ ȱȱǰȱĴȱ ȱȱȱȱȱȱ ¡ȱȱȱ ȱǰȱ ȱȱȱȱ ȱȱȱȱȱǯȱ ěȱȱ¢ǰȱȱȱ ȱȱȱȱȱ ȱȱǯȱ ȱȱ ȱȱǯȱȱȱ ȱȱȱȱȱȱ ȱȱȱ ȱǯȱ ȱȱ ȱȱȱ ȱȱȱȱȱǰȱ ȱȱěȱȱ ȱȱ ȱȱȱ 6HE)RXTXHW VIRXTXHW#GÀG ȱǯȱȱȱěȱ ȱǯȱ Ĵȱȱ ȱ JRYXN LV'5&+XPDQLWDULDQ ȱ ȱȱȱȱ ȱ ȱȱȱȱȱȱ $GYLVHUZLWKWKH8.'HSDUWPHQW ȱȱȱȱȱȱȱǯȱ ȱȱȱȱ ȱ IRU,QWHUQDWLRQDO'HYHORSPHQW ȱȱ ȱȱȱȱ ȱ KWWSZZZGÀGJRYXN ȱȱȱǰȱȱ ȱȱȱȱȱǯȱȱ ȱ ȱȱȱȱȱ ęȱȱȱȱ¢ȱ 7KHRSLQLRQVH[SUHVVHGLQWKLVDUWLFOH ȱȱȱĴȱȱȱȱ ȱȮȱȱ¢ȱ ȱȱȱ UHÁHFWWKHYLHZVRIWKHDXWKRUDQG ȱǯȱ ¢ȱǵȱȱȱ ȱȱ QRWQHFHVVDULO\WKRVHRI'),' řȱȱȱȱ ȱȱȱȱȱȱ ŗǯȱȱ¢ȱǰȱǰȱǰȱ ǰȱ ȱȱȱȱ ¡ȱȱȱȱȱȱ ¡ǰȱȱǰȱ ¢ǰȱǰȱ ȱ ȱȱȱǯȱȱ ȱȱȱȱȱ ȱȱ ǯȱ ȱŘŖŖşǰȱȱȱȱȱȱ ȱǞŗŖŗǯȱ ȱȮȱȱȱȮȱȱ ¢ȱȱȱȱǯ ŘǯȱĴDZȦȦ¢ǯȦȬ ŘŖŗŖ ȱȱ ȱřǯȱ¢ȱȱȮȱ ȱȱȱȱȱ ȱȱȱ *RRG+XPDQLWDULDQ'RQRUVKLS ȱ ȱȱ ȱȱǯȱȱ ŘŖŖşȱĴDZȦȦ ǯǯȦŖŖŖŖřşřřǯȱ ¡ȱȱȱȱ ȱ ȱȱȱǵȱȱ Śǯȱȱ¢ȱȱȱȱȱȱȱ ȱȱȱȱȱ ȱ ȱȱ ȱȱǯ ǰȱȱȱȱȱȱ ǻ ǼȱśȱȱȱŘŖŖřȱ śǯȱĴDZȦȦ ǯǯȦȱ ¢ȱȱȱȱǯȱ ȱŘřȱȱ ȱ '(02&5$7,&5(38%/,&2)&21*2 )05 3ODQQLQJIRUWKHIXWXUHRI 1RUWK.LYX )UDQoRLV7X\LKLPED]H5XFRJR]D ȱ:KLOH1RUWK.LYXLVVWLOOPLUHGLQWKHWURXEOHVRI\HVWHUGD\DQG Dzȱȱěȱ¢ȱȱ WRGD\WKH$GPLQLVWUDWLRQLVDFWLYHO\SODQQLQJIRUWKHFUHDWLRQRID ȱȱęȱȱȱȱ EHWWHUIXWXUH Dzȱȱȱȱȱȱ ȱȱę¢ȱȱ¢Dzȱ ȱ¢ȱȱȱȱ ȱ¢ȱȱȱȁȂȱȱ ȱȱȱȱȱĞȱȱ ȱ¢ȱȱĞȱȱ ȱȱȱȱȱȱ ȱȱȱ¢ȱ ȱ ȱȱȱȱȱ ȱȱ ȱǻǼȱȱ ȱȱȱ 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ȱȱȱȱȱ RI$GPLQLVWUDWLRQ-XVWLFH+XPDQ ǰȱȱȱǯȱ ȱǯȱȱȱȱȱ 5LJKWVDQG&RPPXQLW\5HLQVHUWLRQ ȱȱȱȱȱȱȱ ȱȱȱȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 /LYHVDWULVN ȱǰȱȱŗŝǰȱȱȱȱȱ ȱȱȱȱȱ¢ǰȱȱȱ ȱȱ¢ȱ ȱȱȱȱȱęȱ ǯȱȱȱȱ¢ȱĚȱȱ¢ȱȱȱ ȱȱȱȱȱŘŖŖŞǰȱĞȱĴȱ¢ȱ ȱȂȱȱ¢ȱǻǼȱȱȱȱ ȱȱȱȱȱȱ ¢ȱěȱȱȱȱǯȱǰȱ ȱ ȱ ȱŗŜǰȱ ȱ ȱȱĴȱȱȱ ȱȱȱ¢Dzȱȱ ȱȱȱ ǰȱȱȱĚȱȱȱȱȱǯȱ ȃȱȱęȱǰȱ ȱĚȱȱȱǰȱ ǽ Ǿȱ¢ȱ ȱ¢dzȱȱ ȱȱȱȱȱ ȱȱȱǯȱ¢ȱȱ¢ȱȱȱǯȱ ȱȱȱDzȱ¢ȱǰȱ¢ȱ ȱȱȱ ǯȱ ȱȱȱȱȱȱȱȱȱęȱ ȱĴȱǰȱȱȱȱȱȱ ȱ¢ȱȱȱǯȱ ȱ ȱȱǯȱ ȱ ȱȱȱęȱ¢ȱ¢ǰȱȱȱȱȱ ȱȱȱǽ ǾȱȱǽȱŝŖŖȱǾǯȱ ȱȱȱ ȱȱ ȱȱȱǯȱ ¢ǰȱ ȱ ȱĞȱȱ¢ȱȱȱȱ ȱǯȱȱȱ ¢ǰȱ ȱȱȱȱȱȱ ȱǽȱ¢Ǿȱȱȱȱȱȱ¢Dzȱ ȱȱȱ¢ȱȱǰȱȱȱ ȱǰȱ ȱ ȱ ȱǯȱ ȱȱ ȱȱȱȱ¢ǰȱ¢ȱȱ ȱ ǰȱ ȱěȱȱȱȱȱȱ ȱȱ ȱȱȱǽ ȱǾȱȱ¢ȱ ȱȱȱ ǰȱȱȱ ȱȱǯȱȱȱȱǰȱ ¢ȱȱȱȱȱȱȯȱȱȱǯȱȱ ȱȱȱȱȱǰȱȱĞȱ ȱȱ ǰȱȱȱ¢ȱȱȱȱȱȱ ¢ǯ ȱȱ ȱȱȱęȱ¢ȱ¢ǰȱ ȱ ȱȱǰȱȱȱ ¢ȱȱȱȱȱ¢ǯǯǯȱȱȱ ȱȱȱ ȱȱȱěǵȄ ȱȱǰȱȱ ȱȱ ,5,15LFKDUG3LWXZD ĴDZȦȦ ǯ ǯȦǯ¡ǵ ƽŞŝŝŝŚȱ )LWLQD ȱȱ ȱ ȱȱȱǰȱȱȱ¢ȱ ȱ DZȱȱȱ ǯȱȱȱȱȱȱ ȱȱȱǯȱ ȱȱȱȱȱȱ ȱȱȱ ȱȱȱǰȱȱ¢ȱ ȱȱȱȱȱȱǰȱȱǯȱ ȱȱȱȱȱȱ ȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱ ȱǰȱȱ ȱȱȱȱǯȱȱȱǰȱȱ 2[IDP3LHUUH3HURQ ȱ ȱǯȄȱ '(02&5$7,&5(38%/,&2)&21*2 )05 .XED$XJXVWLQ ȃ ȱȱȱȱȱȱȱ ǯȱ ȱȱȱ ȱ ¢ȱ¢DZȱȱȱŗŘȱȱǯȱ¢ȱ¢ȱȱȱęȱ ȱȱȱȱŗśǯȱȱȱȱȱęȱȱȱ ȱȱ 2[IDP3LHUUH3HURQ ȱǯȱȱȱȱ¢ȱ¢ȱȱȱ ȱȱ¢ȱǯȱ 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ȱȱȱȱ ȱȱȱ ȱěȱǯȱȱȱȱ ȱ¢ȱȱȱ Ȃȱ ȱȱȱȱȱ ęȱ¢ȱȱ ȱĴDzȱ ȱȱȱ ǰȱ ȱȱȱ ȱȱȱȱ ȱȱ¢ȱȱȱ ȱȱǯȱȱ ȱȱȱȱȱ ȱȱ¢ȱȱȱ ȱȱȱȱ ȱȱȱȱȱȱ ȱęȱȱ ȱȱȱȱ ȱȱȱǯȱ &KLOGUHQLQ.DORQJHORRNDWDVLJQDERXW&RQJROHVHODZVSURWHFWLQJSHRSOHDJDLQVWXQODZIXODUUHVWDQGLPSULVRQPHQW ȱǰȱ ȱȱȱȱǯȱ Ȃȱ ȱȱ¢ȱ ȱ ȱȱȱ ȱȱȱĴȱȱ ȱȱȱȱȱȱ ¢ȱȱǰȱȱȱȱ ȱȱĴȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ¢ȱȱ ȱȱȂȱǯȱ ȱ¢ǯȱ ȱȱȱ ǯȱȱ¢ȱǰȱȱǰȱ ȱȮȱȱȱȱ ȱȱȱ ȱȱ ȱȱȱȱȱȱ ȱȱȱȱȮȱȱ ȱȱĴȱȱȱ ǰȱȱȱȱ ȱDzȱ ȱȱ¢ȱȱ ¢ȱȱȱȱȱ ȱȱȱȱǰȱȱ ¢ȱȱȱȱ ȱ¢ȱ ȱ ȱĴȱǯȱ ȱȱȱǰȱȱȱǯȱ ȱ¢ȱȱ ǯǯǯȱ ȱȱȱȱȱ ȱȱȱȱ (PPD)DQQLQJ HIDQQLQJ#R[IDPRUJ ȱ¢ȱȱȱ Ĵȱǰȱȱȱ XN LV3URWHFWLRQ0DQDJHU'5&ZLWK ȱȱ ȱȱȱȱȱ ȱȱ¢Ȭȱ 2[IDP*% KWWSZZZR[IDPRUJXN ȱ¢ǯȱȱ¢ȱȱȱȱȱ ǰȱȱǯȱ ŗǯȱȱȱȱǯ ǻȱ ȱȱȱ ȱ ȱȱȱȱȱ Řǯȱȱ·ȱȱ·ȱȱ Ȧ ȱȱȱȱǯȱ ȱȱǰȱ ȱȱ ȱȱȱȱȱȱ ¢ȱȱ¢ȱȱȱȱȱ ȱȱȱȱ ȱ ȱ řǯȱ¡ȱȱȱȱȱŘŖŗŖȱȱ ǭȱȱ ȱ ȱȱ ȱȱ¢ȱȱȱ ȱ¢ȱȱǯǼ ĴDZȦȦ¢ǯȦ¡ŘŖŗŖȱ ȱȱ¢ȱ ȱ¢ȱȱȱ ¢ȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ,QQRYDWLRQLQFDVKYRXFKHUSURJUDPPLQJ .RNRpYL6RVVRXYL &DVKYRXFKHUVRIIHUÁH[LELOLW\HQDEOLQJSD\PHQWIRUVFKRROIHHV Iȱȱȱȱȱȱ DVZHOODVIRUEDVLFQHFHVVLWLHV7KH\DOVRHPSRZHUSHRSOHZKRLQ ȱ¢ȱ ȱȱ GLVSODFHPHQWKDYHEHHQGHSULYHGRIFKRLFH ȱǯ ȱĚȱȱȱ ȱȱ ȱ ŘŗƖȱȱȱęȱȱ I ȱȱĜȱȱȱ ȱȱȱ¢ȱȱȱ 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LQSODFHVRIUHWXUQDFNQRZOHGJLQJWKDWWKHFDPSFORVXUHVZHUHSROLWLFDOO\GULYHQDQG ȱȱȱ ȱ¢ȱȱȱ LQDSSURSULDWH ȱȱȱȱ ȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ěDzȱȱȱȱȱȱ ŚŖǰŖŖŖȱȱȱ ȱĚȱ ȱȱȱ ȱȱȱȱȬ ȱ ȱȱȱȱ ȱ ȱȱȱǰȱȱ ȱȱ ȱęȱ ȱŗşşřȱȱȱȱĞȱȱȱ Ȧ ȱǰȱ ȱȱȱ ȱȱȱǯȱ ŗşşŚȱ ȱǯřȱȱǰȱ ¢ȱȱ¢ȱȱȱ ȱȱȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱ ȱȱ ȱ ȱȱ ȱ ȱȱȱȱȱ ȱ ȱ ȱȱȱȱ ȱȱǰȱȱȱȱ ȱȱȱDzȱȱȱȱ ȱĴȱȱȱȱ ȱȱȱ ȱȱȱȱȱȱ ȱȱǯȱȱȱȱ ȱȱȱȱȱ ȱȱ ȱ¢ȱ ȱ ȱȱ ȱ¢ȱ ȱȱȱ¢ȱȱ¢ȱ ȱȱȱȱ¢ȱȱȱȱȱ ȱȱȱ¢ȱȱ ȱȱȱȱȱ ¢ȱȱȱȱǯȱ ¡ȱǰȱ ǰȱ ȱȱǯȱȱ ȱȱȱǰȱ¢ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱ ȱȱȱ ȱȱȱȱȱ ȱȱ ȱȱȱȱ ȱȱȱȱȱ ȱǰȱȱȱ ȱȱ ȱȱȱĴȱȱ ǯȱȂȱȱ ȱȱ ¢ȱȱȱȱȱ ȱǯȱȱȱ ȱę¢ȱȱȱȱ ¢ȱȱȱȱ ȱȱȱ¢ȱ ȱǰȱȱǰȱ ¢ȱȱȱǯȱȱ ȱȱȱȱȱȱ ȱ¢ȱȱȱ¢ȱȱ ȱȱ¢ȱȱ ȱȱǰȱ ȱ ȱȱ ȱȱ ȱȱȱȱȱ ȱ ȱȱȱȱȱȱ ¢ǰȱȱȱȱȱ ȱ¢ȱ¡ȱȱ¡ȱ ȱȱȱȱǯ ȱȱȱ Dzȱ¢ȱ ¢ȱȱȱȱ¢ȱȱ ȱȱȱ ¢ǯȱ¢ȱȱ )HUJXV7KRPDV IHUJXVW#KRWPDLO ȱȱȱȱȱȱ ȱȱȱȱȱ FRP LV6WDELOLVDWLRQ&RRUGLQDWLRQ ȱȱȱȱȱ ȱȱȱȱȱȱ 2IÀFHUIRU1RUWK.LYXZLWK02186&2 ȱȱ ȱȱǯ ȱ¢ȱĴȱȱȱ ȱ KWWSPRQXVFRXQPLVVLRQVRUJ DQG ȱȱȱȱǯȱ ZDVSUHYLRXVO\WKH(DVWHUQ&RQJR ¢ǰȱȱ¢ȱŘŖŗŖȱȱ FRRUGLQDWRUIRU&RQFHUQ:RUOGZLGH ȱȱ ȱȱ ȱ¡ǰȱǰȱȱȱȱȱ ŗǯȱȱĴDZȦȦ ǯǯȦ ȦŘŖŖşȏŘşŜŗǯ ǰȱ ȱȱ ȱȱ ȱȱȱȱȱ ŘǯȱĴDZȦȦǯǯȦǯ¡ǵƽŚśŗŚȱ ȱ ¢ȱȱȱȱȱȱȱ ȱȱȱ DZȱǰȱ řǯȱȱȱ¢ȱȱȱŚŞȬşǯ 2IWULSDUWLWHVSHDFHDQGUHWXUQV 6WHYH+HJH $IWHULQWHUQDWLRQDODJUHHPHQWVFRYHULQJWKHUHWXUQRIUHIXJHHVWR ȱȱȱȱȱȱ (TXDWHXUDQG1RUWK.LYXWKHFKDOOHQJHLVWRFUHDWHORFDOVWUXFWXUHV ȱȱȱȱ¢ǯȱ WKDWFDQPDNHWKHDJUHHPHQWVZRUN ȱȱȱȱȱǰȱ ȱȱŘŖŗŖȱȱȱ Ğȱȱȱ ȱȱȱȱĞȱ ¢ȱȱ Ĵȱȱȱȱȱ ȱȱȱȱȱ ȱȬȱ¢ȱ ȱęȱĴȱ ȱ ȱȱȱȱ ǰȱȱ ȱȱȱǯŗȱ ȱȱ¢ȱ ȱȱ¢ȱȱǯȱȱĴȱ ȱȱȱȱȱȱ ȱȱ ȱȱȱǰȱ ȱȱ¢ȱȱ ȱȱȱȱȱ ǯ ȱȱȱȱ ȱȱ ȱǰȱȱ ȱȱȱȱ ȱȱǰȱ¢ȱ ȱȱęȱȱȱŘŖŗŖǰȱȱ ȱ ȱȱȱ¢ȱǰȱ ȱȱȱȱ ȱ ȱ ȱȱȱ ȱȱȱ ȱ 5HWXUQVWR1RUWK.LYX ȱȱȱȱȱȱ ȱȱȱ ȱ ȱ¢ǰȱȱȱ ȱȱǻȱȱ ȱȱǯȱȱ ȱȱȱȱ Ǽǯȱȱ¢ȱěȱ ¢ȱȱĚȱȱȱȱ ȱ ȱȱ ȱ ȱȱȱȱȱȱȱ ȱȂȱȱ¢ǰȱȱȱ ȱȱ ȱȱȱȱ ǰȱ¢ȱ ȱȱȱȱȱ ȱȱȱ¢ȱ ȱȱȱȱȱȱ ȱȱ¡ȱǯ ǯȱǰȱȱ ȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱ ǯȱȱ¢ȱȱ ȱǰȱȱȱęȱȱ ȱěȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱ ȱȱȱȱȱȱ ȱĴȱǻǼǰȱȱ ȱŗşşŚȱȱŗşşŜǰȱ ȱȱȱ ¢ȱȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱ ȱ ȱĚȱȱ ¡ȱȱȱȱȱ ȱȱȱȱ ȱ ȱȱȱȱĞȱ ȱȱȱǯȱȱȱ ȱ ȱȱȱȱȱ ȱȱ ȱǯȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ¢ȱȱ¡ȱȱ Ȃȱȱ ȱȱȱǯȱȱ ȱŘȱȱ¢ȱȱȱ ȱȱȱȱ ¢ȱŘŖŖşǰȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ¢ǰȱȱ ȱȱȱ ȱȮȱȱȱ ȱȱ ǰȱȱȱ ȱ ȱȮȱ ¢ȱȱȱȱ ȱȱ ȱęȱȬ ȱȱȱȱ ȱȱȱ ȱȱȱ ȱȱŘŖŗŗǰȱ ¢ȱȱ ȱ¢ȱȱ ȱȱȱ ȱȱȱ ǯȱ 5HWXUQVWR(TXDWHXU ȱȱȱ ȱ ȱ ȱȱ ȱŘŖŗŖȱ ȱȱȱȱȱ ŗŗśǰŖŖŖȱȱ ȱ Ěȱȱȱȱȱ ȱȮȱ££ȱ ǻǼȱȱȱȱȱ ȱ¢ȱ ȱ ȱȱ ȱ ȱȱȱ 81+&5.%DUQHV ȱȱȬŘŖŖşǯȱ ȱȱȱ 5HSDWULDWLRQIURP=DPELDWR0RED.DWDQJD'5&0D\ ȱȱ¢ȱȱ ȱȱȱȃȱ ȱȱȱȱȱȱ ȱȱȱȱ¢ȱ ȱ ȱȱȱȬ¢ȱ ȱȱ¡ȱȱȱęȱ ȱȱ¢ȱȱȱȱ ȱ ȱǯȄśȱȱ ȱȱȱȬ¢ȱȱȱ ȱȱǯȱȱȱȱ ȱ ȱ¢ȱȱȱ ǯȱȱȱȱȱ ȱȱ¢ȱȱȱ ȱȱȱȱȱ ȱȱȬȱȱ Ĝȱȱȱȱȱ ȱȱȱǰȱ ȱǰȱȱȱ ȱȱȱ ȱȱ ȱ ȱȱȱȱ¢ȱȱ ȱȱ¡ȱȱȱȱ £ȱȱȱȱȱ ȱȱȱȱȱ ǯȱ ȱȱȱȱ¢ȱȱȱěȬ ȱǯȱȱȱȱ ȱȱȱȱǯȱ ȱȱȱȱȱȱȱ ȱȱȱ ȱȱȱ ȱ¢ȱȱ¢ȱȱȱ ǰȱȱȱȱ Ȭȱȱ ȱȱ ȱȂȱ¢ȱȱȱ ¢ȱȱȱȱ¢ȱ ȱȱȱȱ ȱȱ ȱȱȱȱ ¢ȱ ȱ ȱȱǯř ȱȱȱ¢ǯȱȱȂȱ ȱȱȱȱǯȱ ȱȱȱȱȱ ȱĚȱȱȱ ȱ ȱȱȱȱ¢ȱ ȱ¡ȱȱȱȱ ȱ¢ȱȱȱęȱ ȱȱȱ ȱȱȱȱ ȱ ȱȱ ȱȱȱȱȱȱ ǯȱ ȱ ȱȱȱȱ ȱȱ¢ȱȱ Ğȱȱȱȱȱȱ ¢ȱȱȱǯȱȱȱǰȱ ȱȱȱȱǯȱ ȱȱ ȱȱȱȱ ȱȱȱȱ Ğȱ¢ȱȱ ȱȱ ȱȱȱěȱȱȱȱ ȱȱȱȱȱȱȱ ȱ¡¢ȱȱȱ ȱȱ ȱȱȱȱĚȱȱ ǯȱ ȱȱȱȱȱ Ȭȱȱȱȱȱ ȱȱȱȱ Ȭȱȱȱȱ ǻŗşşŞȬŘŖŖŘǼǰȱ¢ȱȱȱ ȱȱ¢ȱȬ ǯȱ ȱȱȱŘŖŖşǰȱĞȱ ¢ȱȱȱȱĴȱ ȱȱȱǰȱȬȱ ȱȱȱȱȱȱȱ ȱȬȱȱ ȱ ȱ ȱȱȱȱȱȱȱ ¢ǰȱȱȱĴȱȱ ȱ¢ȱȱȱȱ Ĵȱȱȱ¡ǯȱȱ ǰȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ¢ȱȱȱ¢ȱ ȱȱȱȱřŖŖȱǯŜ ȱ ǯȱȱȱȱȱ ¢ȱȱȱȱȱȱ ȱȱȱȱ ǰȱȱȱ ȱȱ ȱ¡ȱȱȱ ȱȱȱȱȱŗśŖǰŖŖŖȱ ȱȱȱ ȱ ȱ ȱȱȱȱȱ Ȭȱȱȱ ȱȱȱ ȱȱȱ ȱȱ ȱȱȱ¢ȱȱȱ ȱȱ ȱȱȱ ȱ ȱȱǯŚ ǯȱȬȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱ¢ȱȱȱȱȱ ¢ȱȱ¢ȱ¢ȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȁĞȂȱ ȱǰȱȱȱ ȱȱȱȱȱȱ Ĵȱȱ¢ȱĚȱȱȱȱȱ ǰȱ¢ȱȱȱ ȱȱ ȱȱȱ ȱȱȱȱȱȱ Ȭȱȱȱ¢ȱȱ ǯȱȱȱȬ ȱǯȱȱȱ¢ȱ ȱȱȱǯȱȱ ¢ȱǰȱȱ ȱȱȱȱȱȱ ȱȱȱȱȱȱ ȬȱĚǰȱǰȱ ȱȱȱȱȱȱ ǰȱȱȱȱ¡ȱȱ ȱĚȱȱȱȱ ȱȱȱȱȱȯȱ ȱȱȱȱ ¢ǯȱȱȱȱ ȱȱȱȱ ȱȱȱȱȱ ȱȱȱȱȱȱ ȱ ȱȮȱȱȱ ȱȱ ǯȱ¢ǰȱȱ ȱȱȱȱǯȱ ȱȱȱȱȱȱȱ ěȱȱȱȱȱȱȱ ȱ¡ȱȱǯȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱ ȱȱȱ¢Ȭȱȱȱ ȱȱȱȱ ǰȱȱȱȱȱ ¢ȱȱȱȱȱ¢ȱ ȱ¢ȱ ȱȱ ȱȱǰȱȱǰȱ ȱȱ¡ȱǯȱ ęȱ¡ȱȱȱ¢ȱ ȱ¢ȱȱȱȱ ȱȱȱȱȱ ȱȱǻǼȱǰȱȱȱ ȱȱȱȱ ¢ȱȱ ȱȱȱȱȱȱ ȱȱ¡ȱȱȱǯȱȱ ȱȱȱ ȱȱȱȱȱ ȱȱ ȱ¢ȱȱ ȱȬȱǯȱ ȱȱȱȱǯȱ ȱȱȱĴȱ ȱȱȱȱȱȱ ȱȱȱȱȱ ȱȱȱ¢ȱ ȱ ǰȱ¢ȱȱ¢ȱȱ ȱ¡ȱȱȱȱ ȱȱ¢Ȭěȱȱȱǰȱ ȱȱȱ ȱȱȱȱȱ ȱȱ¢ȱȱ ǰȱ¢ȱȱ ¡ȱȱ ȱ¢ȱǰȱ ȱ ȱȬȱǯȱ¢ǰȱ ȱȱȱȱȱ Ĝȱȱȱȱ ȱȱȱȱȱȱ ȱȱȱǯȱ ȱȱȱȱȱ ȱȱȱȱȱ ǰȱ ȱȱȱ ¢ȱȱȱ¢ǯȱ ȱ ǰȱ¢ȱȱ ȱȱĴȱ¡ȱȱ ¢ȱȱȱȱȱȱȱ ¢ȱȱȱȱȱ ǰȱȱȱȱ ȱȱȱȱȱ ¢ȱ ȱ ȱȱ ¢ȱȱȱǰȱȱȱ ȱȱ¢ȱȱ ȱǯȱ ȱȱ ȱȱ ȱ ¡ȱȱǯ ȱȱȱȱ¢Ȭȱ /LPLWDWLRQVDQGNH\VWR ȱȱĚǯȱȱǰȱȱȱ 6WHYH+HJH VWHYHKHJH# VXFFHVVIRU/3&V ȱȱȱ ¢ȱȱȱ¡ȱ SHDFHDSSHDORUJ LVDQDVVRFLDWH ¡ȱȱȱȱ ȱ ȱ¢ȱȱȱ ȱȱ ZLWKWKH3HDFH$SSHDO)RXQGDWLRQ ȱȱȱȱȱȱ¢ȱ ¢ȱȱȱȱȱ KWWSSHDFHDSSHDORUJ DQG ȱȱȱȱȱǯŝȱ ȱȱǰȱȱ¢ȱȱ LVDOVRDPHPEHURIWKH*URXS ǰȱȱȱȱȱȱ ȱȱ¢ȱȱȱ RI([SHUWVIRUWKH'5&DSSRLQWHG Ĵȱ ȱȱȱ ȱȱȬȱ E\WKH816HFXULW\&RXQFLO ȱȱȱ ǰȱȱ ȱȱȱǯȱ ȱȱĜȱ¢ȱȱ 5HSRUWVRIWKH*URXSRI([SHUWV ȱȱǯȱȱȱ ¢ǰȱȱȱȱȱȱ IRU'5&KWWSZZZXQRUJVF ȱ¢ȱȱȱ ȱ Ěȱ ȱȱȱȱȱȱ FRPPLWWHHVHJURXSVKWPO ȱ¡ȱȱȱȱĞȱ ȱ ȱȱȱȱ ȱȱȱȱ ȱȱ¢ȱĚȱȱ ,QGH[RI816HFXULW\&RXQFLO ȱȱȱȱ ȱȱȱǯȱ SXEOLFDWLRQVRQ'5& ȱȱȱ ȱȱ ǰȱȱȱȱȱ KWWSWLQ\XUOFRP81'5&GRFV ȱȱĚǯȱȱǰȱ ȱȱȱȱȱȱȱȱȱ ŗǯȱȱȱȱȱǰȱȁȱȱ ȱȱȱȱȱȱ ȱ¡ȱȱȱȱ ȱ ĴDZȱȱĚȱǭȱȱȂǰȱ ȱȱ¡ȱȱ ȱ¢ȱȱȱȱ ¢ȱȱȱǰȱŘŖŖŞǯȱȱ ĴDZȦȦ¢ǯȦȬȬ ȱȱȱȱ ȱȱȱȱȱȱ Řǯȱȱȱȱȱȱȱȱȱ ȱȱȱȱȱȱ ǯȱ ȱ¢ȱȱǯȱ ǻ¸ȱȱȱȱ·ȱȱǼ ȱȱȱ¡ȱȱȱ řǯȱȱ ǰȱȁȱDZȱȱȱ ȱȂǰȱŘŖȱȱŘŖŗŖǯȱȱ ǰȱȱȱȱȱȱ ȱȱȱȱȱ ĴDZȦȦ¢ǯȦ ȬȬŘŖŗŖ ȱȱȱ ȱ ȱ¢ȱȱȱȱȱȱ Śǯȱ ǰȱȁȬ DZȱȱ ȱȱȂȱ ȱȱȱȱȱ ȱȱȱȱǯȱȱ ȂǰȱŘȱ ¢ȱŘŖŗŖǯȱȱ ĴDZȦȦ ǯ ǯȦǯ¡ǵƽŞşŝŖŞȱȱ ǯȱ ȱȱ ȱȱȱ¢ȱȱ¢ȱŘŖȬŗǯ ¡ȱȱȱȱȱ &RQFOXVLRQ śǯȱȱȱȱ ȱ ȱǭȱǰȱśȱ ȱȱ¢ȱ¢ȱ ȱȱȱȱȱ ȱŘŖŗŖǯȱĴDZȦȦ¢ǯȦȬ Ŝǯȱȱ ǰȱȁȱDZȱȱȱȱ ȱ ȱȱȱȱ ȱȱĞȱȱ ȱȂǰȱřŗȱȱŘŖŗŖǯȱȱ Ěȱȱȱȱȱ ȱȱȱȱ ĴDZȦȦ¢ǯȦ ȬȬŘŖŗŖ ȱȱȱȱ ȱȱȱ ȱȱȱȱ ŝǯȱȱȱȱȱȱ ȱȱ ǰȱ ȱȱȱ ȱȱȱȱ ȱǯȱȱȱȱ ȱȱȱȱȱ ȱȱǰȱȱŘŖŗŖǯȱȱ ȱ ȱȱȱȱ ȱȱǯȱȱȱ ȱȱĴDZȦȦ ǯǯȦ ȦřŗŗŞśŚŘŚ ȱȱȱȱȱ ȱęȱ¢ȱ ȱȱȱǯȱ ȱȱȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 )RXQGDWLRQVIRUUHSDWULDWLRQDQG SHDFHLQ'5& 9DQHVVD1RsO%URZQ 3DUWLHVWRWKHSURWUDFWHG&RQJROHVHFRQÁLFWKDYHORQJSURPRWHG ȱȱȱȦ IHDURI¶WKHRWKHU·DQGDWKLUVWIRUUHYHQJHWKHVHDWWLWXGHVPXVWEH ¢ȱǰȱĚȱȱ DGGUHVVHGLISHDFHLVWRKDYHDFKDQFH ȱȱȱǰȱȬ ¢ȱǰȱȱȱ ȱŘŖŗŖȱȱȱȱȱ¢ȱ ǯŗȱȱȱ¢ȱ ȱȱ ǰȱȱĚȱȱȱ ȱȱȱȱȱ Ěȱȱȱȱ ȱ¢ȱȱȱ ȱǯ ȱȱȱȱȱȱ ¢ȱȱȱ Ĝȱȱȱȱȱȱ ȱȱȱȱȱ£ǰȱ ȱȱȱȱȱ ȱȱȱȱȱǯȱȱ ȱȱǰȱȱ ȱȱ ȱȱȱȱ ȱȱȱ ȱȱ£ǰȱ ȱȱȱȱ ȱȱȱȱ ǰȱȱȱȱȱȱ £ȱȱȱȱȱ ȱȱ ȱȱȱǯȱȱ ȱȱȱ¢ȱȱ ȱȱǻ¢ȱȱ ȱȱȱȱǰȱ ȱ£ȱ ȱȱ Ȃȱ ȱȱ£ȱȱȱȱ ȱȱȱȱ ȱȱȱ¢ȱ ǰȱȱȱ ȱȱȱ ȱȱȱǰȱ ǯȱȱȱȱȱ ǰȱȱ ȱȱȱ Ǽǯȱ ȱȱȬȱȱ ȱȱ ȱȱȱ ȱȱȱĚǯȱ ȱ¡ȱȱȱȱȱ ȱȱȱȱĚȱ ȱŘŖŖŞȱ ȱȱȱ ȱȱȱǰȱȱ ȱȱȱȱ ȱ ȱȱȱȱ ȱ¢ȱ¢ȱ¡ȱ¢ȱ ȱ¡ȱǰȱ ȱȱ ȱȱȱ¡ȱȱȱ ǯȱ ȱȱȱ ȱȱȱ ȱȱȱ¢ȱȱ ȱ ȱ ȱǰȱ ȱĚȱȱ 6)&* ȱȱȱ ǰȱȱ ¢ȱȱȱ ȱȱȬ ȱȱ£ǯ ȱȱȱ ȱȱ ȱȱ¡ȱ ȱȱȱȱ ȱȱȱ Ĵȱȱȱȱ ȱǻ Ǽȱȱ ǰȱȱȱ ȱȱȱȱ ȱȱȱȱ ȱȱȱȱ ȱǯŘ ȱ£ȱȱȱ ȱȱȱ 5HIXJHHVUHWXUQDQG ȱǰȱȱȱ FRPPXQLW\EXLOGLQJ ȱȱȱǰȱ ȂȱȬȱ ȱȱĞȱĴȱȱ ȱȱȬ ȱȱęȱȱ ǰȱȱȱȱ ¡ȱȱȬȱ ¢ȱȱȱ ǯȱ ȂȱȬȱ ȱȱȱ ȱȱȱ ǻȁȱȱȱȂǼǰȱ Ěȱȱȱ ȱȱȱ£ȱ ȱ ȱȱ 3DUWLFLSDWRU\7KHDWUHIRU&RQÁLFW7UDQVIRUPDWLRQ ȱȱȱȱ Ȭȱ ȱȱȱ ȱ ȱȱȱȱ ǰȱȱ ȱȱȱ ¢ȱȱȱȱȱ ȱȱȱǰȱȱ ȱȱȱȱȱ ȱȱȱǯȱ ȱȱȱȬȱȱ ȱǰȱ£ȱȱǯȱ ȱȱĚǰȱȱ¢ȱ ȱǰȱ ȱǻ ȱ¢ȱ ȱȱ ȱȱȱ ȱȱĞȱȱ ȱȱ·Ǽȱȱ Ĵȱȱǯȱȱȱ ȱĴȱ¢ȱȱ ȱŗŖŖȱȱȱȱ ȱȱȱȱȱ ȱȱȱ¢ǰȱȱ ȱǰȱ¢ȱǰȱ ȱ ȱȱȱǻ ȱȱȁ¢ȱ ȱȱȱȁȂȱȱȱ ȱȱȱȱ ȱȱ¢ȱȂǼǰȱȱ ȱęȱȱȱ ¢ȱ ǯȱȱŘŖŖśǰȱȱ ȱȱ Ȃȱȱ ȱ ȱȱǰȱȱ ȱȱȱȱ ¢ȱȱȱĚȱ ȱȱȱȱȱ ȱȱǰȱ ȱ ȱȱȱŗǯŜȱ ȱȱĚȱȱȱ ȱěȱȱȱ ȱȱ ȱȱȱȱ ǯȱȱȱȱ ȱȱȱǯȱȱ ȱȱȱ£ȱȱȱ Ěȱȱȱȱ ȱȱȱȱȱ '(02&5$7,&5(38%/,&2)&21*2 )05 ȱȱȱȱǰȱ Ȃȱȱȱ ȱȱȱ ǰȱȬȱȱȱ ȱȱȱȱȱȱ ǯŚȱ¢ȱ¢ȱŘŖŗŖȱȱęȱȱ ȱȱ ȱȱȱ ȱȃȄȱ ȱȱȱȱȱ ȱ ȱȱȱŚŖŖǰŖŖŖȱ ȱȬ¡ȱȱȱȱȱ ǯȱ Ȃȱȱȱǰȱ ȱȱȱȱȱ ȱ ȱȱȱȱȱ ȱȱ ȱȱȱ ȱȱ ȱǯȱȱ ȱ¢ȱȱǯȱ ǰȱȱȱȱȱȱ ęȱęȱ¢ȱȱȱȱ ȱǯȱȱ¢ȱ ȱ¡ȱǰȱ¡ȱȱ 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