ࡱ > $ + ` ^ \ Z X V T R P N L J H E bjbjWW 5 5 B 2, 2, ~- ~- ~- - - - 8 - 1 - b V 7 n8 ( 8 8 8 Uk Al L l ( _ 1 ` ` ` ` ` ` $ e vh ` ~- l h \ Uk l l ` 2, 2, 8 8 c0 a l ^ 2, 8 ~- 8 _ re R l _ ~ J - ^ T 8 8[ d 8N X _ a 0 b N i i T T 8 i ~- T l l l l l l l ` ` l l l b l l l l i l l l l l l l l l * : E M B E D W o r d . P i c t u r e . 8 ;5:B@>?@82@540 !@18X5 - ! @82@54=> @CHB2> "5@<>5;5:B@0=5 8:>;0 "5A;0, 1@5=>20F # " " ! " #(" " " " "!" . . & # # ( & 4 4 , 1 1 5 0 0 & O G R A N A K T E K o l u b a r a , 4@5A0: 3 . o k t o b r a 1 4 6 , 1 1 5 6 3 V E L I K I C R Q E N I T 5;5D0:A: 0 1 1 / 8 1 2 4 0 - 8 6 0 e - m a i l : d r a g i c a . j o v a n c i c @ t e n t . r s # ! #"& 02=0 =0102:0 1@>X 1 0 1 3 9 7 / 2 0 1 5 - B2>@5=8 ?>ABC?0: - @54<5B =0102:5: T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5 V E L I K I C R Q E N I , 2 0 . 0 4 . 2 0 1 5 . 3>4. 0 >A=>2C G;0=0 3 2 . 0:>=0 > X02=8< =0102:0<0 ( !;. 3;0A=8: ! 1@. 1 2 4 / 2 0 1 2 , C 40Y5< B5:ABC: ) 8 G;0=0 2 . @028;=8:0 > >10257=8< 5;5<5=B8<0 :>=:C@A=5 4>:C<5=B0F8X5 C ?>ABC?F8<0 X02=8E =0102:8 8 =0G8=C 4>:07820Z0 8A?CZ5=>AB8 CA;>20 ( !;. 3;0A=8: ! 1@. 2 9 / 2 0 1 3 ) , ?@8?@5<Y5=0 X5: # ! #"& 70 >B2>@5=8 ?>ABC?0:: T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5 1@. 1 0 1 3 9 7 / 2 0 1 5 >=:C@A=0 4>:C<5=B0F8X0 A04@68: 1 . O p { t i p o d a c i o j a v n o j nabavci2.Podaci o predmetu javne nabavke3.Uputstvo ponu|a~ima kako da sa~ine ponudu4.Obrazac ponude5.Uslovi za u~e{}e u postupku javne nabavke iz ~lana 75. i 76. ZJN-a i uputstvo kako se dokazuje ispuwenost tih uslova6.Obrazac strukture ponu|ene cene sa uputstvom kako da se popuni7.Obrazac tro{kova pripreme ponude8.Obrazac izjave o nezavisnoj ponudi9.Obrazac izjave o obavezama ponu|a~a na osnovu ~lana 75. stav 2. ZJN-a10.Model ugovora11.Tehni~ke specifikacije i tehni~ka dokumen t a c i j a E M B E D W o r d . P i c t u r e . 8 ;5:B@>?@82@540 !@18X5 - ! @82@54=> @CHB2> "5@<>5;5:B@0=5 8:>;0 "5A;0, 1@5=>20F K >=:C@A=0 4>:C<5=B0F8X0 1 . (" & & V E L I K I C R Q E N I , 2 0 . 0 4 . 2 0 1 5 . 3>4. 1 . (" & & 1 . 1 0782 8 04@5A0 =0@CG8>F0 #(" " " " "!" . . . & # # ( & 4 4 , 1 1 5 0 0 & 1 . 2 3@0=0: 4@CHB20 - =0782 8 04@5A0 O G R A N A K T E K o l u b a r a 3 . o k t o b r a 1 4 6 , 1 1 5 6 3 V e l i k i C r q e n i 1 . 3 =B5@=5B AB@0=8F0 =0@CG8>F0 w w w . t e n t . r s 1 . 4 @AB0 ?>ABC?:0 O t v o r e n i p o s t u p a k 1 . 5 @54<5B X02=5 =0102:5 0102:0 d o b a r a : T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5 1 . 6 &8Y ?>ABC?:0 >ABC?0: A5 A?@>2>48 @048 70:YCG5Z0 C3>2>@0 > X02=>X =0102F8 1 . 7 >=B0:B J O V A N ^ I ] D R A G I C A e - m a i l : d r a g i c a . j o v a n c i c @ t e n t . r s E M B E D W o r d . P i c t u r e . 8 ;5:B@>?@82@540 !@18X5 - ! @82@54=> @CHB2> "5@<>5;5:B@0=5 8:>;0 "5A;0, 1@5=>20F K >=:C@A=0 4>:C<5=B0F8X0 2 . & "# V E L I K I C R Q E N I , 2 0 . 0 4 . 2 0 1 5 . 3>4. 2 . & "# ?8A ?@54<5B0 X02=5 =0102:5 T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5 0782 8 >7=0:0 87 >?HB53 @5G=8:0 =0102:5 3 8 4 1 7 0 0 0 "5@<>5;5<5=B8 P r e d m e t n i j e o b l i k o v a n p o p a r t i j a m a E M B E D W o r d . P i c t u r e . 8 ;5:B@>?@82@540 !@18X5 - ! @82@54=> @CHB2> "5@<>5;5:B@0=5 8:>;0 "5A;0, 1@5=>20F K >=:C@A=0 4>:C<5=B0F8X0 3 . ##"!" #' !' ## V E L I K I C R Q E N I , 2 0 . 0 4 . 2 0 1 5 . 3>4. 0 >A=>2C G;0=0 6 1 . AB02 4 . B0G:0 1 . 0:>=0 > X02=8< =0102:0<0 ( !;. 3;0A=8: ! 1@. 1 2 4 / 2 0 1 2 , C40Y5< B5:ABC: ) 8 G;0=0 8 . @028;=8:0 > >10257=8< 5;5<5=B8<0 :>=:C@A=5 4>:C<5=B0F8X5 C ?>ABC?F8<0 X02=8E =0102:8 8 =0G8=C 4>:07820Z0 8A?CZ5=>AB8 CA;>20 ( !;. 3;0A=8: ! 1@. 2 9 / 2 0 1 3 ) , 4>=>A8 A5 #?CBAB2> ?>=CR0G8<0 :0:> 40 A0G8=5 ?>=C4C 3 . 1 . & # # # !!" >=C40 <>@0 18B8 A0G8Z5=0 =0 A@?A:>< X578:C. #:>;8:> X5 >4@5R5=8 4>:C<5=B =0 AB@0=>< X578:C, ?>=CR0G X5 4C60= 40 ?>@54 4>:C<5=B0 =0 AB@0=>< X578:C 4>AB028 8 ?@52>4 B>3 4>:C<5=B0 =0 A@?A:8 X578:. 0B0;>78 8;8 872>48 87 :0B0;>30 <>3C 18B8 =0 A@?A:>< 8;8 5=3;5A:>< X578:C. 3 . 2 . ( # # & "% # # ! #"& >=C45 A5 ?>4=>A5 C ?8A0@=8F8 =5?>A@54=> 8;8 ?>HB>< =0 04@5AC 87 B0G:5 1 . 2 C @>:C >4 3 0 40=0 >4 40=0 >1X02Y820Z0 ?>7820 70 ?>4=>H5Z5 ?>=C40 =0 >@B0;C X02=8E =0102:8, >4=>A=> 4> 1 0 . 0 7 . 2 0 1 5 3>48=5 4> 1 1 : 3 0 G0A>20 A0 =07=0:><: " >=C40 70 1@. 1 0 1 3 9 7 / 2 0 1 5 =5 >B20@0B8 C@CG8B8 J O V A N ^ I ] D R A G I C A . >=C4C ?>A;0B8 C 1 ( X54=><) ?@8<5@:C. #:>;8:> @>: 8AB8G5 =0 40= :>X8 X5 =5@040= 8;8 =0 40= 4@602=>3 ?@07=8:0, :0> ?>A;54Z8 40= =02545=>3 @>:0 [5 A5 A<0B@0B8 ?@28 A;545[8 @04=8 40=. >=C45 ?>4=5B5 ?> 8AB5:C =02545=>3 @>:0 =5[5 A5 @07<0B@0B8 8 18[5 =5>B2>@5=5 2@0[5=5 ?>=CR0GC. ;03>2@5<5=>AB A5 F5=8 ?@5<0 40=C 8 A0BC ?@8A?5[0 C ?8A0@=8FC =0@CG8>F0, 0 =5 ?@5<0 40=C 8 A0BC ?@540X5 ?>HB8. B20@0Z5 ?>=C40 18[5 >102Y5=> 8AB>3 40=0 ?> 8AB5:C @>:0 70 ?>4=>H5Z5 C 1 2 : 0 0 G0A>20 C ?@>AB>@8X0<0 , >3@0=0: 4@CHB20O G R A N A K T E K o l u b a r a , 3 . o k t o b r a 1 4 6 . @54AB02=8F8 ?>=CR0G0 =0 >B20@0ZC <>@0XC ?@8;>68B8 ?C=><>[X5 70 70ABC?0Z5. >B20@0ZC ?>=C40 18[5 A0G8Z5= 70?8A=8: :>X8 [5 C @>:C >4 3 40=0, >4 40=0 >B20@0Z0, 18B8 4>AB02Y5= A28< ?>=CR0G8<0. >=C40 A5 ?>4=>A8 C :>25@B8/ ><>BC/ :CB8X8 :>X0 X5 70B2>@5=0 =0 A?>X528<0, B0:> 40 A5 ?@8 >B20@0ZC <>65 ?@>25@8B8 40 ;8 X5 70B2>@5=0 >=0:> :0:> X5 ?@540B0. >=C40 A5 A0AB02Y0 B0:> HB> ?>=CR0G C?8ACX5 B@065=5 ?>40B:5 C >1@070F ?>=C45 8 C7 8ABC ?@8;065 70EB520=C 4>:C<5=B0F8XC 8 A25 4>:075 ?@5428R5=5 >28< #?CBAB2>< 8 525=BC0;=> =0:=04=> ?>A;0B8< 4>40B=8< 70EB528<0 =0@CG8>F0. 1@070F ?>=C45 A5 ?>?CZ020 G8B:> @C:><, =0 ?8A0[>X <0H8=8, @0GC=0@C 8;8 4@C3>< B5E=8G:>< A@54AB2C A;8G=8E :0@0:B5@8AB8:0. >=C40 <>@0 18B8 X0A=0, =542>A<8A;5=0, >25@5=0 ?5G0B>< 8 ?>B?8A>< >2;0H[5=>3 ;8F0. >=CR0G <>65 4>AB028B8 A0<> X54=C ?>=C4C. >65Y=> X5 40 A28 4>:C<5=B8 ?>4=5B8 C ?>=C48 1C4C ?>2570=8 B@0:>< C F5;8=8 8 70?5G0[5=8, B0:> 40 A5 =5 <>3C C10F8B8, >4AB@0=8B8 8;8 70<5=8B8 ?>X548=0G=8 ;8AB>28, >4=>A=> ?@8;>78, 0 40 A5 284=> =5 >HB5B5 ;8AB>28 8;8 ?5G0B. #:>;8:> ?>=C4C ?>4=>A8 3@C?0 ?>=CR0G0, >1@0AF5 87 :>=:C@A=5 4>:C<5=B0F8X5 <>3C ?>?C=8B8, ?>B?8A0B8 8 ?5G0B>< >25@8B8 A28 G;0=>28 3@C?5 8;8 G;0=>28 3@C?5 <>3C >2;0AB8B8 X54=>3 G;0=0 ( =>A8>F0 ?>A;0) :>X8 [5 C 8<5 3@C?5 ?>?C=8B8, ?>B?8A0B8 8 ?5G0B>< >25@8B8 >1@0AF5 87 :>=:C@A=5 4>:C<5=B0F8X5, C :>< A;CG0XC X5 B> ?>B@51=> 45D8=8A0B8 A?>@07C<>< > 70X54=8G:>< =0ABC?C. #:>;8:> X5 =5>?E>4=> 40 ?>=CR0G 8A?@028 3@5H:5 :>X5 X5 =0?@028> ?@8;8:>< A0AB02Y0Z0 ?>=C45 8 ?>?CZ020Z0 >1@070F0 87 :>=:C@A=5 4>:C<5=B0F8X5, 4C60= X5 40 ?>@54 B0:25 8A?@02:5 AB028 ?>B?8A >A>15 8;8 >A>10 :>X5 AC ?>B?8A0;5 >1@070F ?>=C45 8 ?5G0B ?>=CR0G0. 3 . 3 . " @54<5B=0 X02=0 =0102:0 n i j e >1;8:>20=0 C 28H5 ?0@B8X0. 3 . 4 . " # 8X5 4>72>Y5=> ?>4=>H5Z5 ?>=C45 A0 20@8X0=B0<0. 3 . 5 . , # # # @>:C 70 ?>4=>H5Z5 ?>=C45 ?>=CR0G <>65 40 87<5=8, 4>?C=8 8;8 >?>7>25 A2>XC ?>=C4C, =0 8AB8 =0G8= =0 :>X8 X5 ?>4=5> 8 A0<C ?>=C4C - =5?>A@54=> 8;8 ?CB5< ?>HB5 C 70B2>@5=>X :>25@B8 8;8 :CB8X8. # A;CG0XC 87<5=5, 4>?C=5 8;8 >?>7820 ?>=C45, ?>=CR0G B@510 =0 :>25@B8 8;8 :CB8X8 40 =07=0G8 =0782 ?>=CR0G0, 04@5AC 8 B5;5D>=, :0> 8 8<5 8 ?@578<5 >2;0H[5=>3 ;8F0 70 :>=B0:B. # A;CG0XC 40 X5 ?>=C4C ?>4=5;0 3@C?0 ?>=CR0G0, =0 :>25@B8 X5 ?>B@51=> =07=0G8B8 40 A5 @048 > 3@C?8 ?>=CR0G0 8 =025AB8 =07825 8 04@5AC A28E CG5A=8:0 C 70X54=8G:>X ?>=C48. 7<5=C, 4>?C=C 8;8 >?>782 ?>=C45 B@510 4>AB028B8 =0 04@5AC: @82@54=> 4@CHB2> , , "5@<>5;5:B@0=5 8:>;0 "5A;0' ' 4. >. >. , >3@0=0: 4@CHB20 T E K o l u b a r a , 5;8:8 &@Y5=8 A0 =07=0:><: 7<5=0 ?>=C45 70 >B2>@5=8 ?>ABC?0: 70 X02=C =0102:C i s p o r u k e d o b a r a - T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5, 1@. 1 0 1 3 9 7 / 2 0 1 5 8;8 >?C=0 ?>=C45 70 >B2>@5=8 ?>ABC?0: 70 X02=C =0102:C i s p o r u k e d o b a r a - T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5, 1@. 1 0 1 3 9 7 / 2 0 1 5 8;8 ?>782 ?>=C45 70 >B2>@5=8 ?>ABC?0: 70 X02=C =0102:C i s p o r u k e d o b a r a - T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5, 1@. 1 0 1 3 9 7 / 2 0 1 5 3 . 6 . #'!" # ' # ' >=CR0G <>65 40 ?>4=5A5 A0<> X54=C ?>=C4C. >=CR0G :>X8 X5 A0<>AB0;=> ?>4=5> ?>=C4C =5 <>65 8AB>2@5<5=> 40 CG5AB2CX5 C 70X54=8G:>X ?>=C48 8;8 :0> ?>4872>R0G, =8B8 8AB> ;8F5 <>65 CG5AB2>20B8 C 28H5 70X54=8G:8E ?>=C40. # AC?@>B=><, B0:25 ?>=C45 [5 18B8 >418X5=5. 3 . 7 . #'( ' #:>;8:> ?>=CR0G ?>4=>A8 ?>=C4C A0 ?>4872>R0G5<, 4C60= X5 40 C ?>=C48 =02545 40 [5 872@H5Z5 =0102:5 45;8<8G=> ?>25@8B8 ?>4872>R0GC, ?@>F5=0B C:C?=5 2@54=>AB8 =0102:5 :>X8 [5 ?>25@8B8 ?>4872>R0GC, :0> 8 45> ?@54<5B0 =0102:5 :>X8 [5 872@H8B8 ?@5:> ?>4872>R0G0. @>F5=0B C:C?=5 2@54=>AB8 =0102:5 :>X8 [5 ?>=CR0G ?>25@8B8 ?>4872>R0GC =5 <>65 18B8 25[8 >4 5 0 % . >=CR0G X5 4C60= 40 70 ?>4872>R0G5 4>AB028 4>:075 > 8A?CZ5=>AB8 CA;>20 :>X8 AC B@065=8 C #?CBAB2C :0:> A5 4>:07CX5 8A?CZ5=>AB CA;>20. >=CR0G X5 4C60= 40 =0@CG8>FC, =0 Z53>2 70EB52, ><>3C[8 ?@8ABC? :>4 ?>4872>R0G0 @048 CB2@R820Z0 8A?CZ5=>AB8 CA;>20. 0@CG8;0F <>65 =0 70EB52 ?>4872>R0G0 8 345 ?@8@>40 ?@54<5B0 =0102:5 B> 4>72>Y020 ?@5=5B8 4>A?5;0 ?>B@06820Z0 48@5:B=> ?>4872>R0GC, 70 45> =0102:5 :>X0 A5 872@H020 ?@5:> B>3 ?>4872>R0G0. @5 4>=>H5Z0 >4;C:5 > ?@5=>H5ZC 4>A?5;8E ?>B@06820Z0 48@5:B=> ?>4872>R0GC =0@CG8;0F [5 ><>3C[8B8 4>102Y0GC 40 C @>:C >4 5 40=0 >4 40=0 4>18X0Z0 ?>7820 =0@CG8>F0 ?@83>2>@8 C:>;8:> ?>B@06820Z5 =8X5 4>A?5;>. !25 >2> =5 CB8G5 =0 ?@028;> 40 ?>=CR0G, >4=>A=> 4>102Y0G C ?>B?C=>AB8 >43>20@0 =0@CG8>FC 70 872@H5Z5 >102570 87 ?>ABC?:0 X02=5 =0102:5, >4=>A=> 70 872@H5Z5 C3>2>@=8E >102570, 157 >178@0 =0 1@>X ?>4872>R0G0. 3 . 8 . ( ' # >=C4C <>65 ?>4=5B8 3@C?0 ?>=CR0G0. !0AB02=8 45> 70X54=8G:5 ?>=C45 X5 A?>@07C< :>X8< A5 ?>=CR0G8 87 3@C?5 <5RCA>1=> 8 ?@5<0 =0@CG8>FC >10257CXC =0 872@H5Z5 X02=5 =0102:5, 0 :>X8 >10257=> A04@68 ?>40B:5 >: 1 ) G;0=C 3@C?5 :>X8 [5 18B8 =>A8;0F ?>A;0, >4=>A=> :>X8 [5 ?>4=5B8 ?>=C4C 8 :>X8 [5 70ABC?0B8 3@C?C ?>=CR0G0 ?@54 =0@CG8>F5<; 2 ) ?>=CR0GC :>X8 [5 C 8<5 3@C?5 ?>=CR0G0 ?>B?8A0B8 C3>2>@; 3 ) ?>=CR0GC :>X8 [5 C 8<5 3@C?5 ?>=CR0G0 40B8 B@065=> A@54AB2> >15715R5Z0; 4 ) ?>=CR0GC :>X8 [5 8740B8 @0GC=; 5 ) @0GC=C =0 :>X8 [5 18B8 872@H5=> ?;0[0Z5; 6 ) >102575<0 A20:>3 >4 ?>=CR0G0 87 3@C?5 ?>=CR0G0 70 872@H5Z5 C3>2>@0. @C?0 ?>=CR0G0 X5 4C6=0 40 4>AB028 A25 B@065=5 4>:075 > 8A?CZ5=>AB8 CA;>20 :>X8 AC =02545=8 C #?CBAB2C :0:> A5 4>:07CX5 8A?CZ5=>AB CA;>20. 3 . 9 . !" %" #'& 0G8= 8 CA;>28 ?;0[0Z0: ;0[0Z5 A5 2@H8 C A:;04C A0 0:>=>< > @>:>28<0 87<8@5Z0 =>2G0=8E >102570 C :><5@F8X0;=8< B@0=A0:F8X0<0 ( !;. 3;0A=8: ! 1@>X 1 1 9 / 1 2 ) . >: 70 87<8@5Z5 =>2G0=8E >102570 X5 4 5 40=0, a C A:;04C A0 =0G8=>< 8 @>:>< ?;0[0Z0 :>X8 AC 45D8=8A0=8 <>45;>< C3>2>@0. >G5B0: @>:0 87<8@5Z0 =>2G0=8E >102570 @53C;8A0= X5 G;0=>< 3 . AB02 3 . 0:>=>< > @>:>28<0 87<8@5Z0 =>2G0=8E >102570 C :><5@F8X0;=8< B@0=A0:F8X0<0 ( !;. 3;0A=8: ! 1@>X 1 1 9 / 1 2 ) . 0@0=B=8 ?5@8>4: 0@0=B=8 ?5@8>4 =5 <>65 18B8 :@0[8 >4 2 4 <5A5F0 >4 40=0 i s p o r u k e d o b a r a . >: 8A?>@C:5 4>10@0: >: i s p o r u k e d o b a r a =5 <>65 18B8 4C68 >4 6 0 40=0 >4 ABC?0Z0 C3>2>@0 =0 A=03C. 5AB> 8A?>@C:5 4>10@0 8 ?0@8B5B: >=C40 A5 40X5 =0 ?0@8B5BC D- :> <030F8= >3@0=0: 4@CHB20 " >;C10@0, 0 <5AB> i s p o r u k e d o b a r a X5 <030F8= >3@0=0:0 4@CHB20 T E K o ;C10@0, 5;8:8 &@Y5=8. 06=>AB ?>=C45: >: 2065Z0 ?>=C45 =5 <>65 18B8 :@0[8 >4 4 5 d a n a >4 40=0 >B20@0Z0 ?>=C40. 3 . 1 0 . ' ' % " !20:0 AB@0=8F0 ?>=C45 :>X0 A04@68 ?>40B:5 :>X8 AC ?>25@Y828 70 ?>=CR0G0 B@510 C 3>@Z5< 45A=>< C3;C 40 A04@68 >7=0:C , , C A:;04C A0 G;0=>< 1 4 . - 0. 5[5 A5 A<0B@0B8 ?>25@Y828< 4>:078 > 8A?CZ5=>AB8 >10257=8E CA;>20, F5=0 8 4@C38 ?>40F8 87 ?>=C45 :>X8 AC >4 7=0G0X0 70 ?@8<5=C 5;5<5=0B0 :@8B5@8XC<0 8 @0=38@0Z5 ?>=C45. 0@CG8;0F j e 4C60= 40 GC20 :0> ?>25@Y825 A25 ?>40B:5 > ?>=CR0G8<0 A04@60=5 C?>=C48 :>X8 AC ?>A51=8< ?@>?8A>< CB2@R5=8 :0> ?>25@Y828 8 :>X5 X5 :0> B0:25 ?>=CR0G >7=0G8> C?>=C48. 0@CG8;0F [5 >418B8 40 40 8=D>@<0F8XC :>X0 18 7=0G8;0 ?>2@54C ?>25@Y82>AB8 ?>40B0:0 4>18X5=8E C ?>=C48. 0@CG8;0F [5 GC20B8 :0> ?>A;>2=C B0X=C 8<5=0 708=B5@5A>20=8E ;8F0, ?>=CR0G0 8 ?>40B:5 > ?>4=5B8< ?>=C40<04> >B20@0Z0 ?>=C40. 3 . 1 1 . #" ' " & # # &5=5 C ?>=C48 <>3C 18B8 8A:070=5 C 48=0@8<0 8;8 52@8<0, 157 , C:YCGCXC[8 5;5<5=B5 Z5=5 AB@C:BC@5 ( =?@. B@>H:>25 ?@52>70, @040, >A83C@0Z0, 52. ?>?CAB5, 8 4@C35 7028A=5 B@>H:>25) . #:>;8:> X5 F5=0 8A:070=0 C AB@0=>X 20;CB8, 70 ?@5@0GC= C 48=0@5, :>@8AB8[5 A5 A@54Z8 45287=8 :C@A 0@>4=5 10=:5 !@18X5 =0 40= :040 X5 70?>G5B> >B20@0Z5 ?>=C40. &5=0 X5 D8:A=0 8 =5 <>65 A5 <5Z0B8. 3 . 1 2 . #' ! & :> X5 C >=C48 8A:070=0 =5C18G0X5=> =8A:0 F5=0, =0@CG8;0F [5 ?>ABC?8B8 C A:;04C A0 G;0=>< 9 2 . 0@CG8;0F <>65 40 >418X5 ?>=C4C 71>3 =5C>18G0X5=> =8A:5 F5=5. :> =0@CG8;0F >F5=8 40 ?>=C40 A04@68 =5C>18G0X5=> =8A:C F5=C, 4C60= X5 40 >4 ?>=CR0G0 70EB520 45B0Y=> >1@07;>65Z5 A28E Z5=8E A0AB02=8E 45;>20 :>X5 A<0B@0 <5@>402=8<, 0 =0@>G8B> =02>45 C ?>3;54C 5:>=><8:5 =0G8=0 3@04Z5, ?@>872>4Z5 8;8 8701@0=8E B5E=8G:8E @5H5Z0, C ?>3;54C 87C75B=> ?>2>Y=8E CA;>20 :>X8 ?>=CR0GC AB>X5 =0 @0A?>;030ZC 70 872@H5Z5 C3>2>@0 8;8 C ?>3;54C >@838=0;=>AB8 ?@>872>40, CA;C30 8;8 @04>20 :>X5 ?>=CR0G =C48 0@CG8;0F X5 4C60= 40 ?>=CR0GC >4>1@8 ?@8<5@5= @>: 70 >43>2>@. 0@CG8;0F X5 4C60= 40 ?> 4>18X0ZC >1@07;>65Z0 ?@>25@8 <5@>402=5 A0AB02=5 5;5<5=B5 ?>=C45. 3 . 1 3 . & ! # " ! & ! , ("" " ! , ("" ( #, #! !. !# ( # & # !#'# % % ( # !" # >40F8 > ?>@5A:8< >102570<0 A5 <>3C 4>18B8 C >@5A:>X C?@028, 8=8AB0@AB20 D8=0=A8X0 8 ?@82@545. >40F8 > 70HB8B8 682>B=5 A@548=5 A5 <>3C 4>18B8 C 35=F8X8 70 70HB8BC 682>B=5 A@548=5 8 C 8=8AB0@AB2C 5=5@35B8:5, @072>X0 8 70HB8B5 682>B=5 A@548=5. >40F8 > 70HB8B8 ?@8 70?>HY020ZC 8 CA;>28<0 @040 A5 <>3C 4>18B8 C 8=8AB0@AB2C @040, 70?>HY020Z0 8 A>F8X0;=5 ?>;8B8:5. 3 . 1 4 . " !# # % - ! #' ! !!# "% $ & #:>;8:> C3>2>@ 1C45 4>45Y5= ?>=CR0GC :>X8 A5 =0;078 =0 A?8A:C =530B82=8E @5D5@5=F8 :>X8 2>48 #?@020 70 X02=5 =0102:5 0 :>X8 8<0 =530B82=C @5D5@5=FC 70 ?@54<5B :>X8 =8X5 8AB>2@AB0= ?@54<5BC :>=:@5B=5 X02=5 =0102:5 8AB8 X5 4C60= 40 C @>:C >4 3 0 40=0 >4 40=0 70:YCG5Z0 C3>2>@0 ?@540 =0@CG8>FC 10=:0@A:C 30@0=F8XC 70 4>1@> 872@H5Z5 ?>A;0, :>X0 [5 18B8 A0 :;0C7C;0<0: =5>?>7820, 157CA;>2=0, =0?;0B820 =0 ?@28 ?>782 8 157 ?@020 =0 ?@83>2>@. 0=:0@A:0 30@0=F8X0 70 4>1@> 872@H5Z5 ?>A;0 8740X5 A5 C 28A8=8 >4 1 5 % >4 C:C?=5 2@54=>AB8 C3>2>@0 157 , A0 @>:>< 206=>AB8 :>X8 X5 3 0 ( B@845A5B) 40=0 4C68 >4 8AB5:0 @>:0 70 :>=0G=> 872@H5Z5 ?>A;0. :> A5 70 2@5<5 B@0X0Z0 C3>2>@0 ?@><5=5 @>:>28 70 872@H5Z5 C3>2>@=5 >102575, 206=>AB 10=:0@A:5 30@0=F8X5 70 4>1@> 872@H5Z5 ?>A;0 <>@0 40 A5 ?@>4C68. 3 . 1 5 . $! !% %", # !" !", # # ("" !" " #'& !" #' ! , # #'## % ' >40F8 :>X8 A5 =0;075 C :>=:C@A=>X 4>:C<5=B0F8X8 =8AC ?>25@Y828. 3 . 1 6 . " $ & ( # ! # 08=B5@5A>20=> ;8F5 <>65 C A:;04C A0 G;0=>< 6 3 . AB02 2 . , 8A:YCG82> C ?8A0=>< >1;8:C, B@068B8 >4 0@CG8>F0 4>40B=5 8=D>@<0F8X5 8;8 ?>X0HZ5Z0 C 2578 A0 ?@8?@5<0Z5< ?>=C45, =0X:0A=8X5 ?5B 40=0 ?@5 8AB5:0 @>:0 70 ?>4=>H5Z5 ?>=C45. 0@CG8;0F X5 4C60= 40 708=B5@5A>20=>< ;8FC C @>:C >4 B@8 40=0 >4 40=0 ?@8X5<0 70EB520, ?>H0Y5 >43>2>@ C ?8A0=>< >1;8:C 8 40 8AB>2@5<5=> >1X028 BC 8=D>@<0F8XC =0 >@B0;C X02=8E =0102:8 8 =0 A2>X>X 8=B5@=5B AB@0=8F8. ><C=8:0F8X0 A0 0@CG8>F5< 2@H8 A5 8A:YCG82> =0 =0G8= >4@5R5= G;0=>< 2 0 . , >4=>A=> ?8A0=8< ?CB5<, ?CB5< ?>HB5, 5;5:B@>=A:5 ?>HB5 8;8 D0:A><. "@065Z5 4>40B=8E 8=D>@<0F8X0 8 ?>X0HZ5Z0 B5;5D>=>< =8X5 4>72>Y5=>. :> =0@CG8;0F C @>:C ?@5428R5=>< 70 ?>4=>H5Z5 ?>=C40 87<5=8 8;8 4>?C=8 :>=:C@A=C 4>:C<5=B0F8XC, 4C60= X5 40 157 >4;030Z0 87<5=5 8;8 4>?C=5 >1X028 =0 >@B0;C X02=8E =0102:8 8 =0 A2>X>X 8=B5@=5B AB@0=8F8. :> =0@CG8;0F 87<5=8 8;8 4>?C=8 :>=:C@A=C 4>:C<5=B0F8XC >A0< 8;8 <0Z5 40=0 ?@5 8AB5:0 @>:0 70 ?>4=>H5Z5 ?>=C40, =0@CG8;0F X5 4C60= 40 ?@>4C68 @>: 70 ?>4=>H5Z5 ?>=C40 8 >1X028 >1025HB5Z5 > ?@>4C65ZC @>:0 70 ?>4=>H5Z5 ?>=C40. 3 . 1 7 . " ( #' &# # 0@CG8;0F <>65 40 70EB520 >4 ?>=CR0G0 4>40B=0 >1X0HZ5Z0 C A:;04C A0 G;0=>< 9 3 . !B02 1 . , :>X0 [5 <C ?><>[8 ?@8 ?@53;54C, 2@54=>20ZC 8 C?>@5R820ZC ?>=C40, 0 <>65 40 2@H8 8 :>=B@>;C ( C284) :>4 ?>=CR0G0, >4=>A=> Z53>2>3 ?>4872>R0G0. 0@CG8;0F =5 <>65 40 70EB520, 4>72>;8 8;8 ?>=C48 ?@><5=C 5;5<5=0B0 ?>=C45 :>X8 AC >4 7=0G0X0 70 ?@8<5=C :@8B5@8XC<0 70 4>45;C C3>2>@0, >4=>A=> ?@><5=C :>X>< 18 A5 ?>=C40 :>X0 X5 =5>43>20@0XC[0 8;8 =5?@8E20BY820 CG8=8;0 >43>20@0XCG><, >4=>A=> ?@8E20BY82><, >A8< 0:> 4@C30G8X5 ?@>87;8;078 87 ?@8@>45 ?>ABC?:0 X02=5 =0102:5. 0@CG8;0F <>65 C7 A03;0A=>AB ?>=CR0G0 40 872@H8 8A?@02:5 @0GC=A:8E 3@5H0:0 C>G5=8E ?@8;8:>< @07<0B@0Z0 ?>=C45 ?> >:>=G0=>< ?>ABC?:C >B20@0Z0 ?>=C40. # A;CG0XC @07;8:5 87<5HC X548=8G=5 8 C:C?=5 F5=5, <5@>42=0 X5 X548=8G=0 F5=0. :> A5 ?>=CR0G =5 A03;0A8 A0 8A?@02:>< @0GC=A:8E 3@5H0:0, =0@CG8;0F [5 Z53>2C ?>=C4C >418B8 :0> =5?@8E20BY82C. 0@CG8;0F [5 ?8A<5=>, C @>:C >4 1 0 40=0 =0:>= >B20@0Z0 >=C40, 70B@068B8, 525=BC0;=>, 4>40B=0 >1X0HZ5Z0 >4 >=CR0G0, =0 :>X0 X5 8AB8 4C60= 40 >43>2>@8 C @>:C >4 2 40=0 >4 ?@8X5<0 70EB520 70 4>40B=8< >1X0HZ5Z8<0. 0@CG8;0F C 8AB>< @>:C <>65 872@H8B8 C284 :>4 >=CR0G0, >4=>A=> Z53>2>3 ?>4872>R0G0, HB> X5 >20X 4C60= 40 ><>3C[8. 3 . 1 8 . " $ & ( #' # 0@CG8;0F [5 >418B8 ?>=C4C C:;8:> ?>A54CX5 4>:07 40 X5 ?>=CR0G C ?@5BE>4=5 B@8 3>48=5 C ?>ABC?:C X02=5 =0102:5: >ABC?8> AC?@>B=> 701@0=8 87 G;. 2 3 . 8 2 5 . . #G8=8> ?>2@54C :>=:C@5=F8X5. >AB028> =58AB8=8B5 ?>40B:5 C ?>=C48 8;8 157 >?@0240=8E @07;>30 >418> 40 70:YCG8 C3>2>@ > X02=>X =0102F8, =0:>= HB> <C X5 C3>2>@ 4>45Y5. 418> 40 4>AB028 4>:075 8 A@54AB20 >15715R5Z0 =0 HB0 A5 C ?>=C48 >102570>. 0@CG8;0F [5 >418B8 ?>=C4C C:>;8:> ?>A54CX5 4>:07 :>X8 ?>B2@RCX5 40 ?>=CR0G =8X5 8A?CZ020> A2>X5 >102575 ?> @0=8X5 70:YCG5=8< C3>2>@8<0 > X02=8< =0102:0<0 :>X8 AC A5 >4=>A8;8 =0 8AB8 ?@54<5B =0102:5, 70 ?5@8>4 >4 ?@54E>4=5 B@8 3>48=5. >:07 87 ?@54E>4=>3 AB020 <>65 18B8: @02>A=06=0 AC4A:0 >4;C:0 8;8 :>=0G=0 >4;C:0 4@C3>3 =04;56=>3 >@30=0. A?@020 > @50;87>20=>< A@54AB2C >15715R5Z0 8A?CZ5Z0 >102570 C ?>ABC?:C X02=5 =0102:5 8;8 8A?CZ5Z0 C3>2>@=8E >102570. A?@020 > =0?;0[5=>X C3>2>@=>X :07=8. 5:;0<0F8X0 ?>B@>H0G0, >4=>A=> :>@8A=8:0, 0:> =8AC >B:;>Z5=5 C C3>2>@5=>< @>:C. 725HB0X =047>@=>3 >@30=0 > 872545=8< @04>28<0:>X8 =8AC C A:;04C A0 ?@>X5:B><, >4=>A=> C3>2>@><. 7X020 > @0A:84C C3>2>@0 71>3 =58A?CZ5Z0 18B=8E 5;5<5=0B0 C3>2>@0 40B0 =0 =0G8= 8 ?>4 CA;>2>< ?@5428R5=8< 70:>=>< :>X8< A5 C@5RCXC >1;830F8>=8 >4=>A8. >:07 > 0=306>20ZC =0 872@H5ZC C3>2>@0 > X02=>X =0102F8 ;8F0 :>X0 =8AC >7=0G5=0 C ?>=C48 :0> ?>4872>R0G8, >4=>A=> G;0=>28 3@C?5 ?>=CR0G0. 3 . 1 9 . " # # # : @8B5@8XC< 70 >F5Z820Z5 ?>=C40 j e N A J N I @ A P O N U \ E N A C E N A # A;CG0XC ?@8<5=5 :@8B5@8XC<0 =0X=865 ?>=CR5=5 F5=5, 0 C A8BC0F8X8 :040 ?>AB>X5 ?>=C45 ?>=CR0G0 :>X8 =C45 4>1@0 4><0[53 ?>@5:;0 8 ?>=C45 ?>=CR0G0 :>X8 =C45 4>1@0 AB@0=>3 ?>@5:;0, =0@CG8;0F <>@0 8701@0B8 ?>=C4C ?>=CR0G0 :>X8 =C48 4>1@0 4><0[53 ?>@5:;0 ?>4 CA;>2>< 40 Z53>20 ?>=CR5=0 F5=0 =8X5 ?@5:> 5 % 25[0 C >4=>AC =0 =0X=86C ?>=CR5=C F5=C ?>=CR0G0 :>X8 =C48 4>1@0 AB@0=>3 ?>@5:;0. # ?>=CR5=C F5=C AB@0=>3 ?>=CR0G0 C@0GC=020XC A5 8 F0@8=A:5 40618=5. ><0[8 ?>=CR0G X5 ?@02=> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>18B ?@02=8E ;8F0, >4=>A=> D878G:> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>E>40: 3@0R0=0. :> X5 ?>4=5B0 70X54=8G:0 ?>=C40, 3@C?0 ?>=CR0G0 A5 A<0B@0 4><0[8< ?>=CR0G5< 0:> X5 A20:8 G;0= 3@C?5 ?>=CR0G0 ?@02=> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>18B ?@02=8E ;8F0, >4=>A=> D878G:> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>E>40: 3@0R0=0 ( ;8F5 87 G;0=0 8 6 . AB020 6 . ) . :> X5 ?>4=5B0 ?>=C40 A0 ?>4872>R0G5<, ?>=CR0G A5 A<0B@0 4><0[8< ?>=CR0G5<, 0:> X5 ?>=CR0G 8 Z53>2 ?>4872>R0G ?@02=> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>18B ?@02=8E ;8F0, >4=>A=> D878G:> ;8F5 @57845=B C A<8A;C 70:>=0 :>X8< A5 C@5RCX5 ?>@57 =0 4>E>40: 3@0R0=0 ( ;8F5 87 G;0=0 8 6 . AB020 6 . ) . 040 ?>=CR0G 4>AB028 4>:07 40 =C48 4>1@0 4><0[53 ?>@5:;0, =0@CG8;0F [5, ?@5 @0=38@0Z0 ?>=C40, ?>720B8 A25 >AB0;5 ?>=CR0G5 G8X5 AC ?>=C45 >F5Z5=5 :0> ?@8E20BY825 40 A5 87X0A=5 40 ;8 =C45 4>1@0 4><0[53 ?>@5:;0 8 40 4>AB025 4>:07. @54=>AB 40B0 70 4><0[5 ?>=CR0G5 8 4>1@0 4><0[53 ?>@5:;0 ( G;0= 8 6 . AB02 1 . 4> 4 . ) C ?>ABC?F8<0 X02=8E =0102:8 C :>X8<0 CG5AB2CXC ?>=CR0G8 87 4@6020 ?>B?8A=8F0 !?>@07C<0 > A;>1>4=>X B@3>28=8 C F5=B@0;=>X 2@>?8 ( &$" 2 0 0 6 ) ?@8<5Z820[5 A5 AE>4=> >4@5410<0 B>3 A?>@07C<0. @54=>AB 40B0 70 4><0[5 ?>=CR0G5 8 4>1@0 4><0[53 ?>@5:;0 ( G;0= 8 6 . AB02 1 . 4> 4 . ) C ?>ABC?F8<0 X02=8E =0102:8 C :>X8<0 CG5AB2CXC ?>=CR0G8 87 4@6020 ?>B?8A=8F0 !?>@07C<0 > AB018;870F8X8 8 ?@84@C6820ZC 87<5RC 2@>?A:8E 70X54=8F0 8 Z8E>28E 4@6020 G;0=8F0, A0 X54=5 AB@0=5, 8 5?C1;8:5 !@18X5, A0 4@C35 AB@0=5, ?@8<5Z820[5 A5 AE>4=> >4@5410<0 B>3 A?>@07C<0. 3 . 2 0 . " " #: #:>;8:> C 425 8;8 28H5 ?>=C40 ?>=CR5=0 F5=0 1C45 8AB0, 0@CG8;0F [5 4>=5B8 >4;C:C 40 C3>2>@ 4>45;8 >=CR0GC :>X8 X5 ?>=C48> :@0[8 @>: 8A?>@C:5. #:>;8:> 8 70 B0X 5;5<5=B :@8B5@8XC<0 ?>=CR0G8 8<0XC 8AB5 CA;>25, 0@CG8;0F [5 4>=5B8 >4;C:C 40 C3>2>@ 4>45;8 ?>=CR0GC :>X8 ?>=C48 4C68 30@0=B=8 ?5@8>4. #:>;8:> 8 70 B0X 5;5<5=B :@8B5@8XC<0 ?>=CR0G8 8<0XC AB5 CA;>25, 0@CG8;0F [5 4>=5B8 >4;C:C > >1CAB028 ?>ABC?:0 ?@54<5B=5 =0102:5. 3 . 2 1 . #' '# 7 4 . !" 2 . 7 5 . !" 2 . - 0:=04C 70 :>@8H[5Z5 ?0B5=0B0, :0> 8 >43>2>@=>AB 70 ?>2@54C 70HB8[5=8E ?@020 8=B5;5:BC0;=5 A2>X8=5 B@5[8E ;8F0 A=>A8 >=CR0G. >=CR0G X5 4C60= 40 C ?>=C48 87@8G8B> =02545 40 X5 ?>HB>20> >102575 :>X5 ?@>87;075 87 2065[8E ?@>?8A0 > 70HB8B8 =0 @04C, 70?>HY020ZC 8 CA;>28<0 @040, 70HB8B8 682>B=5 A@548=5, :0> 8 40 30@0=BCX5 40 X5 8<0;0F ?@020 8=B5;5:BC0;=5 A2>X8=5. 1@070F 87X025 X5 40B =0 >1@0AFC 1@. 5 . 3 . 2 2 . A # >=C40 [5 18B8 >418X5=0 0:> X5 =51;03>2@5<5=0, =5?@8E20BY820 8;8 =5>43>20@0XC[0. :> A5 ?>=CR0G =5 A03;0A8 A0 8A?@02:>< @0GC=A:8E 3@5H0:0. :> 8<0 18B=5 =54>AB0B:5 AE>4=> G;0=C 1 0 6 . . 3 . 2 3 . %" (""# >ABC?0: 70HB8B5 ?@020 ?>=CR0G0 @53C;8A0= X5 >4@5410<0 G;0=0 1 3 8 . - 1 6 7 . - 0. 0EB52 70 70HB8BC ?@020 <>65 40 ?>4=5A5 ?>=CR0G, 708=B5@5A>20=> ;8F5, 8;8 ?>A;>2=> C4@C65Z5C Z8E>2> 8<5. 0EB52 70 70HB8BC ?@020 ?>4=>A8 A5 5?C1;8G:>X :><8A8X8 70 70HB8BC ?@020 C ?>ABC?F8<0 X02=8E =0102:8, 0 ?@540X5 =0@CG8>FC. @8<5@0: 70EB520 70 70HB8BC ?@020 ?>4=>A8;0F 8AB>2@5<5=> 4>AB02Y0 5?C1;8G:>X :><8A8X8. 0EB52 70 70HB8BC ?@020 A5 4>AB02Y0 =5?>A@54=>, 5;5:B@>=A:>< ?>HB><, D0:A>< 8;8 ?@5?>@CG5=>< ?>H8Y:>< A0 ?>2@0B=8F><. 0EB52 70 70HB8BC ?@020 <>65 A5 ?>4=5B8 C B>:C F5;>3 ?>ABC?:0 X02=5 =0102:5, ?@>B82 A20:5 @04Z5 =0@CG8>F0, >A8< 0:> - >< =8X5 4@C30G8X5 >4@5R5=>. 0EB52 70 70HB8BC ?@020 :>X8< A5 >A?>@020 2@AB0 ?>ABC?:0, A04@68=0 ?>7820 70 ?>4=>H5Z5 ?>=C40 8;8 :>=:C@A=5 4>:C<5=B0F8X5 A<0B@0[5 A5 1;03>2@5<5=8< 0:> X5 ?@8<Y5= >4 AB@0=5 =0@CG8>F0 =0X:0A=8X5 A540< 40=0 ?@5 8AB5:0 @>:0 70 ?>4=>H5Z5 ?>=C40, 157 >178@0 =0 =0G8= 4>AB02Y0Z0. >A;5 4>=>H5Z0 >4;C:5 > 4>45;8 C3>2>@0 8;8 >4;C:5 > >1CAB028 ?>ABC?:0, @>: 70 ?>4=>H5Z5 70EB520 70 70HB8BC ?@020 X5 45A5B 40=0 >4 40=0 ?@8X5<0 >4;C:5. ?>4=5B>< 70EB52C 70 70HB8BC ?@020 0@CG8;0F >1025HB020 A25 CG5A=8:5 C ?>ABC?:C X02=5 =0102:5, >4=>A=> >1X02YCX5 >1025HB5Z5 > ?>4=5B>< 70EB52C =0 >@B0;C X02=8E =0102:8, =0X:0A=8X5 C @>:C >4 420 40=0 >4 40=0 ?@8X5<0 70EB520 70 70HB8BC ?@020. >4=>A8;0F 70EB520 X5 4C60= 40 =0 @0GC= 1C_5B0 5?C1;8:5 !@18X5 C?;0B8 B0:AC C 87=o AC >4 8 0 . 0 0 0 , 0 0 48=0@0 C:>;8:> >A?>@020 >4@5R5=C @04ZC =0@CG8>F0 ?@5 >B20@0Z0 ?>=C40 =0 1@>X 68@> @0GC=0: 8 4 0 - 7 4 2 2 2 1 8 4 3 - 5 7 , H8D@0 ?;0[0Z0: 1 5 3 , ?>782 =0 1@>X 9 7 5 0 - 0 1 6 , A2@E0 C?;0B5: 5?C1;8G:0 04<8=8AB@0B82=0 B0:A0 A0 =07=0:>< X02=5 =0102:5 =0 :>XC A5 >4=>A8 ( 1@>X 8;8 4@C30 >7=0:0 :>=:@5B=5 X02=5 =0102:5) , :>@8A=8:: 1C_5B 5?C1;8:5 !@18X5. #:>;8:> ?>4=>A8;0F 70EB520 >A?>@020 >4;C:C > 4>45;8 C3>2>@0 B0:A0 87=>A8 8 0 . 0 0 0 , 0 0 48=0@0 C:>;8:> ?>=CR5=0 F5=0 ?>=CR0G0 :>X5< X5 4>45Y5= C3>2>@ =8X5 25[0 >4 8 0 . 0 0 0 . 0 0 0 48=0@0, >4=>A=> B0:A0 87=>A8 0 , 1 % ?>=CR5=5 F5=5 ?>=CR0G0 :>X5< X5 4>45Y5= C3>2>@ 0:> X5 B0 2@54=>AB 25[0 >4 8 0 . 0 0 0 . 0 0 0 48=0@0. #:>;8:> ?>4=>A8;0F 70EB520 >A?>@020 >4;C:C > >1CAB028 ?>ABC?:0 X02=5 =0102:5 8;8 @04ZC =0@CG8>F0 >4 <><5=B0 >B20@0Z0 ?>=C40 4> 4>=>H5Z0 >4;C:5 > 4>45;8 C3>2>@0 8;8 >1CAB028 ?>ABC?:0, B0:A0 87=>A8 8 0 . 0 0 0 , 0 0 48=0@0 C:>;8:> ?@>F5Z5=0 2@54=>AB X02=5 =0102:5 ( :>XC [5 ?>4=>A8;0F A07=0B8 =0 >B20@0ZC ?>=C40 8;8 87 70?8A=8:0 > >B20@0ZC ?>=C40) =8X5 25[0 >4 8 0 . 0 0 0 . 0 0 0 48=0@0, >4=>A=> B0:A0 87=>A8 0 , 1 % ?@>F5Z5=5 2@54=>AB8 X02=5 =0102:5 0:> X5 B0 2@54=>AB 25[0 >4 8 0 . 0 0 0 . 0 0 0 48=0@0. 3 . 2 4 . #!" !"# 0@CG8;0F [5 >1CAB028B8 ?>ABC?0: X02=5 =0102:5 =0 >A=>2C 8725HB0X0 > AB@CG=>X >F5=8 ?>=C40 C A:;04C A0 G;0=>< 1 0 9 . . 0@CG8;0F X5 4C60= 40 C >4;CF8 > >1CAB028 ?>ABC?:0 X02=5 =0102:5 >4;CG8 > B@>H:>28<0 ?>=C45 87 G;0=0 8 8 . AB02 3 . >2>3 0:>=0. 3 . 2 5 . # # #"&# >=CR0G 8<0 ?@02> 40 872@H8 C284 C 4>:C<5=B0F8XC > A?@>2545=>< ?>ABC?:C X02=5 =0102:5 ?>A;5 4>=>H5Z0 >4;C:5 > 4>45;8 C3>2>@0, >4=>A=> >4;C:5 > >1CAB028 ?>ABC?:0 > G5<C <>65 ?>4=5B8 ?8A<5=8 70EB52 =0@CG8>FC. 0@CG8;0F X5 4C60= 40 ;8FC 87 AB020 1 . >2>3 G;0=0, ><>3C[8 C284 C 4>:C<5=B0F8XC 8 :>?8@0Z5 4>:C<5=B0F8X5 87 ?>ABC?:0 > B@>H:C ?>4=>A8>F0 70EB520, C @>:C >4 420 40=0 >4 40=0 ?@8X5<0 ?8A0=>3 70EB520, C7 >10257C 40 70HB8B8 ?>40B:5 C A:;04C A0 G;0=>< 1 4 . . 3 . 2 6 . #' # 0@CG8;0F X5 4C60= 40 C @>:C >4 8 40=0 >4 8AB5:0 @>:0 70 ?>4=>H5Z5 70EB520 70 70HB8BC ?@020 70:YCG8 C3>2>@ A0 8701@0=8< >=CR0G5<. #:>;8:> C @>:C 70 ?>4=>H5Z5 ?>=C40 ?@8AB83=5 A0<> X54=0 ?>=C40 8 B0 ?>=C40 1C45 ?@8E20BY820, =0@CG8;0F [5 AE>4=> G;0=C 1 1 2 . AB02 2 . B0G:0 5 . - 0 70:YCG8B8 C3>2>@ A0 ?>=CR0G5< ?@5 8AB5:0 @>:0 70 ?>4=>H5Z5 70EB520 70 70HB8BC ?@020. 0@CG8;0F =5 <>65 70:YCG8B8 C3>2>@ > X02=>X =0102F8 A0 ?>=CR0G5< C A;CG0XC ?>AB>X0Z0 AC:>10 8=B5@5A0 ( G;0= 3 0 . ) . E M B E D W o r d . P i c t u r e . 8 ;5:B@>?@82@540 !@18X5 - ! @82@54=> @CHB2> "5@<>5;5:B@0=5 8:>;0 "5A;0, 1@5=>20F K >=:C@A=0 4>:C<5=B0F8X0 @54<5B X02=5 =0102:5: T e @<>AB0B8 8 ?@5B20@0G8 B5<?5@0BC@5 4 . & # & #'# 0782 ?>=CR0G0: 4@5A0 ?>=CR0G0: <5 >A>15 70 :>=B0:B: e - m a i l : "5;5D>=: "5;5D0:A: >@5A:8 1@>X ?>=CR0G0 ( ) : 0B8G=8 1@>X ?>=CR0G0: (8D@0 45;0B=>AB8: 0782 10=:5 8 1@>X @0GC=0: 8F5 >2;0H[5=> 70 ?>B?8A820Z5 C3>2>@0: >=C4C 40X5<: ( 70>:@C68B8 =0G8= 4020Z0 ?>=C45 8 C?8A0B8 ?>40B:5 ?>4 ) 8 ) ) !!" ) ! ' 1 ) 0782 ?>4872>R0G0: 4@5A0: 0B8G=8 1@>X: >@5A:8 845=B8D8:0F8>=8 1@>X: <5 >A>15 70 :>=B0:B: @>F5=0B C:C?=5 2@54=>AB8 =0102:5 :>X8 [5 872@H8B8 ?>4872>R0G: 5> ?@54<5B0 =0102:5 :>X8 [5 872@H8B8 ?>4872>R0G: ) '# ## 1 ) 0782 CG5A=8:0 C 70X54=8G:>X ?>=C48: 4@5A0: 0B8G=8 1@>X: >@5A:8 845=B8D8:0F8>=8 1@>X: <5 >A>15 70 :>=B0:B: 0?><5=0: - #:>;8:> 8<0 28H5 ?>4872>R0G0 8;8 CG5A=8:0 C 70X54=8G:>X ?>=C48 =53> HB> 8<0 <5AB0 C B015;8 ?>B@51=> X5 :>?8@0B8 B015;C 8 ?>?C=8B8 ?>40B:5 70 A25 ?>4872>R0G5 8;8 CG5A=8:5 C 70X54=8G:>X ?>=C48. #:>;8:> 3@C?0 ?>=CR0G0 ?>4=>A8 70X54=8G:C ?>=C4C B015;C & #'# B@510 A0 A2>X8< ?>40F8<0 40 ?>?C=8 =>A8;0F ?>A;0, 4>: ?>40B:5 > >AB0;8< CG5A=8F8<0 C 70X54=8G:>X ?>=C48 B@510 =025AB8 C 4@C3>X B015;8 >2>3 >1@0AF0. # . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3>48=5 > X02=>X =0102F8 1@. 1 0 1 3 9 7 / 2 0 1 5 54. 1@>X @54<5B =0102:5 @>872>R0G 54. <5@5 >;8G8=0 &5=0 / 7=>A "5@<>AB0B A0 :0?8;0@>< 5;8G8=0: D N 1 0 0 0B5@8X0;: 1 . 4 3 0 1 >=B060: ?@54Z8 ?0=5; 70 <>=B06C =0 ?@8@C1=8FC @5G=8: A>=45 :>X0 A5 C@0Z0: 8 m m C68=0 A>=45 :>X0 A5 C@0Z0: 1 6 0 m m 0?8;0@0: 1 . 4 5 4 1 , A0 70HB8B>< 1 . 4 3 0 1 , = 6 . 0 m m ( 4> 8 0 0 C ) C68=0 :0?8;0@5: 3 m !:0;0: C ?A53: 0 . . . 1 6 0 C @5H:0: 0 , 6 % 0782=8 =0?>= =0 :>=B0:B8<0: 2 2 0 V D C !0 <5E0=8G:8< :>=B0:B8<0 ( >10 :>=B0:B0 N O ) #25@5Z5 > 5B0;>=8@0ZC C 3 B0G:5 8740B> >4 0:@548B>20=5 ;01>@0B>@8X5 ( 2 5 % , 5 0 % , 7 5 % >4 >?A530) B A U M E R T S F E 1 0 0 - 2 2 1 . 1 B 4 . x x T . 3 0 . 5 0 1 1 8;8 >43>20@0XC[5 :><. 5 "@0=A<8B5@8 B5<?5@0BC@5 @>3@0<018;=8 B@0=A<8B5@ B5<?5@0BC@5 70 <>=B06C C 3;02C B5@<>5;5<5=B0 "8? B #;07 B@0=A<8B5@0: P t 1 0 0 , P t 1 0 0 0 , T i p J , K , L @5H:0 <5@5Z0: 0 , 0 8 % >4 ?>45H5=>3 <5@=>3 >?A530 >45H5= C >?A53C 2 0 6 0 0 C 70 B8? $01@8G:8 :0;81@0F8>=8 A5@B8D8:0B ?@>872>R0G0 C <8=8<0;=> 5 B0G0:0 C >?A53C :>X8 X5 45D8=8A0= !0 ?@81>@>< 70 <>=B06C =0 D I N H8=C :><. 1 2 >45< 70 ?>257820Z5 A0 P C - X5< C F8YC A5B>20Z0 B@0=A<8B5@0 B5<?5@0BC@5 =0 ?>B@51=5 2@54=>AB8 :><. 1 ##: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ n 48=0@0/ 52@0 : _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 48=0@0/ 52@0 #"# _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 48=0@0/ 52@a >: 8 =0G8= ?;0[0Z0 ( 4 5 40=0) : _ _ _ _ _ 40=0, C A:;04C A0 =0G8=>< ?;0[0Z0 45D8=8A0=8< <>45;>< C3>2>@0 06=>AB ?>=C45 ( =5 :@0[5 >4 4 5 d a n a >4 40=0 >B20@0Z0 ?>=C40) : _ _ _ _ 0 2 6 8 : @ | L n 0 ᩙuuauMuMauauaua &hi hi 5OJ QJ \^J mH sH &hi hi 5OJ QJ \^J mHsH hi hi 5OJ QJ \^J &hi hi 5:OJ QJ ^J mHsH hi hi 5:OJ QJ ^J hi hi 5OJ QJ ^J ,j hi hi OJ QJ U^J mH nH u $jbLC hi hi OJ QJ U^J hi hi OJ QJ ^J !j hi hi OJ QJ U^J 8 < > @ | $$If a$gdi Q kd $$If l 0 M6# #6 4 l a yti $If gdi ($If ^(gdi $If ^gdi L 2 4 ^ & ( * , . 0 dh gdi $dh a$gdi Q kd $$If l J0 M6# #6 4 l a yti 0 2 \ ^ l & , . 0 ^ ` | ʺʺʺzbL: #hi hi 5OJ QJ ^J nH tH +hi hi 5OJ QJ ^J mHnH sHtH /hi hi 5@ OJ QJ ^J mHnH sHtH /hi hi 5@ OJ QJ ^J mHnH sHtH &hi hi 5OJ QJ \^J mH sH &hi hi 5OJ QJ \^J mHsH hi hi 5OJ QJ \^J &hi hi 5OJ QJ \^J mH sH #hi hi 5OJ QJ ^J mH sH hi hi 5OJ QJ \^J 0 ` 6 8 : < > @ B D gdi $7$ 8$ H$ a$gdi $7$ 8$ H$ `a$gdi $dh a$gdi $ a$gdi $n ]^na$gdi 4 6 < @ B D Ȳv`P