Tro, hopp och Clip Art-bilder

!

!

!

!

!

!

!

!

!

Tro, hopp och Clip Art-bilder

- En kvalitativ receptionsstudie av Stockholms stifts reklamannonser.

!

Södertörns högskola | Institutionen för historia och samtidsstudier

C-uppsats 15 hp | Religionsvetenskap med didaktisk inriktning C | Vårterminen 2013

(Frivilligt: Programmet för xxx )!

!

Av: Donya Shahabi

Handledare: David Thurfjell

!

! !

! 9!

!

"#$%&'(%!

)*%+,-!"#$%!&$''!(!)*+'!,#-./+*01#!!2:$!3;&4*/&/*;!.-<-=/*#$00/>,*-0/>,*-!&;!'/#<3(#4?0!

0/*@/0!.-34&?&$$#$0-.!

./0#,&!12!3'4,$-!!AB!!

"/%51&-!"#$%&!'(&(&)*!!

)/%1&-!"&;*,!6(>.@C-44!!

61/&$,-!'/>,%!#@!.-4*2*#$0!D!

7,&*18-!'=.*$2!9E78!

9:*;,&$*%<-!'<(##4!#@!1*0/#.*<&4!&$,!D#$/-?=#.&.%!0/>,*-0F!'+,-./+.$!G$*;-.0*/%!!

"#$%&'(%-!H$!/(*0!0/>,%!&!2.#>=!#@!'/#<3(#4?!I#?-$F!&2-,!9EJ9BF!(&;-!)--$!&03-,!I(&/!

/(-%!/(*$3!&)#>/!'/#<3(#4?K0!,*#<-0-L0!&,0M!6(-*.!/(#>2(/0!(&;-!)--$!<#?=&.-,!/#!I(&/!

'/#<3(#4?0!,*#<-0-!(&,!*$/-$,-,!/#!<#??>$*<&/-M!6(-.-@#.-F!/(-!&*?!#@!/(*0!0/>,%!(&0!

)--$! /#! -N&?*$-! I(-/(-.! /(-.-! *0! &! ,*0<.-=&$<%! )-/I--$! I(&/! /(-! '/#<3(#4?! I#?-$!

(&;-! =-.<-*;-,! @.#?! /(-! &,0! &$,! I(&/! /(-! &,;-./*0-.! (&;-! *$/-$,-,! /#! <#$;-%M! 6(-!

.-0>4/0!(&;-!)--$!<&/-2#.*O-,!&<<#.,*$2!&!?#,-4!=.#=#0-,!)%!/(-!<>4/>.&4!/(-#.*0/!&$,!

0#<*#4#2*0/!'/>&./!1&44M!6(-!?#,-4!0>22-0/0!/(&/!/(-.-!&.-!/(.--!I&%0!*$!I(*<(!<>4/>.&4!

*?&2-0!&$,!&./*@&</0!&.-!,-<#,-,M!6(-!?&*$!.-0>4/0!0(#I!/(&/!/(-!'/#<3(#4?!I#?-$!*$!

/(*0!0/>,%!/&3-!&!$-2#/*&/-,!=#0*/*#$F!I(*<(!?-&$0!/(&/!/(-%!&2.--!I*/(!0#?-!-4-?-$/0!

#@!/(-!&,0K!?-00&2-0M!1#I-;-.F!/(-!I#?-$!&.-!P>*/-!<4-&.!/(&/!/(-%!,#!$#/!&==.-<*&/-!

I(-$! /(-! &,0! 2-/! Q/##! D(.*0/*&$QM! ! H$! /(-! )*22-.! =*</>.-! (-$<-F! /(-.-! *0! &! ,*0<.-=&$<%!

)-/I--$!/(-!I-4<#?*$2!&$,!*$<4>,*$2!*?&2-!#@!/(-!<(>.<(!/(&/!/(-!&,0!I&$/!/#!<#$;-%F!

&$,! /(-! $&..#I! &$,! -N<4>,*$2! <#$$#/&/*#$0! /(&/! D(.*0/*&$! I#.,0! 0><(! &0! =.&%-.F! @&*/(!

&$,!R#,!2*;-!.*0-!/#!*$!/(-!/(#>2(/0!#@!/(-!*$@#.?&$/0M!!

!

=,<>1&8$-!'/#<3(#4?L0!,*#<-0-F!D(>.<(!#@!'I-,-$F!&,0F!&,;-./*0-?-$/F!'/>&./!1&44F!

D(.*0/*&$F!-$<#,*$2F!,-<#,*$2!!

! !

! 8!

!

?@!A:+,8:*:4!! ! ! ! $@B!

C@!D<2%,! ! ! ! ! $@B!

E@!F&G4,$%H++:*:4'&! ! ! ! $@B!

B@I,%18JI'%,&*'+! ! ! ! $@K!

!!!!!!SM7M!T;2.U$0$*$2&.! ! ! ! 0MA!

!!!!!!SM9M!V;&4*/&/*;&!*$/-.;C>-.!! ! ! 0MA!

!!!!!!SM8M!G.;&4!! ! ! ! 0MW!

!!!!!!SMSM!X-@4-N*;*/-/! ! ! ! 0MY!

!!!!!!SMBM!VU443.*/*3! ! ! ! 0MY!

!!!!!!SMAM!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.! ! 0MZ!

!!!!!!SMW!H$@#.?&$/-.$&! ! ! !! 0M7E!

K@!)*8*4'&,!21&$L:*:4!! ! ! ! $@??!

M@!N'L4&/:8!D;,:$L'!L<&L':! ! ! $@?E!

!!!!!!AM7M!T//!;&.&!Q3.*0/-$Q! ! ! ! 0M7S!

O@!),1&*-!P:(18*:4J!Q,(18*:4! ! ! $@?M!

R@!P:(18*:4!! ! ! ! $@?R!

S@!T,$/+%'%J":'+<$! ! ! ! $@CU!

?U@!D'00':2'%%:*:4! ! ! ! $@EO!

??@!=H++V1(5!+*%%,&'%/&2W&%,(L:*:4!! ! ! $@ER!

?C@!N*+'41&! ! ! ! ! $@B?!

!!!!!!79M7!H$/-.;C>@.[2#.!

!!!!!79M9!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.![.!9EE7J9E79!

! !

! S!

?@!A:+,8:*:4-!!

"-/!=[0/[0!#@/&!&//!;*!*!';-.*2-!4-;-.!*!;U.4,-$0!?-0/!0-3>4&.*0-.&,-!4&$,M!'&?/*,*2/!(&.!;*!

-$!@#433%.3&F!';-$03&!3%.3&$F!?-,!-$!(*0/#.*&!0#?!2[.!$U0/&$!/>0-$![.!/*44)&3&!*!/*,-$M!!

H!/&3/!?-,!&//!';-$03&!3%.3&$!#<(!0/&/-$!;*,!?*44-$$*>?03*@/-/!0-=&.-.&,-0F!(&?$&,-!

';-$03&!3%.3&$!*!-$!$%!#<(!3&$03-!*$/-!(-4/!-$3-4!0*/>&/*#$M!';-$03&!3%.3&$!;&.!/*,*2&.-!

;&.! -$! 0/&/4*2! ?%$,*2(-/! #<(! 0#?! 0[,&$! .&?&,-! ,-$! *$! ?-,)#.2&.$&0! 4*;! 2-$#?!

4*;0.*/-.F!(+2/*,-.F!@#43)#3@+.*$2!#<(!>$,-.;*0$*$2M!\>!@*<3!,-$!=4+/04*2/!/U$3&!*!/-.?-.!

&;! ?&.3$&,0@+.*$2M! V%.3&$! @*<3! ]!0#?! 0[! ?[$2&! &$,.&! &3/+.-.! *! ;[./! 0&?(U44-F! ?-,!

&$,.&!#.,!]!.U//&!0*2!-@/-.!?&.3$&,0-3#$#?*$0!0=-4.-24-.M!"-//&!*$$-)U.!*!=.&3/*3-$!&//!

3%.3&$F! -@/-.! 0-=&.&/*#$-$! @.[$! 0/&/-$! @[.! /.U$2&0! 0*,&! ;*,! 0*,&! ?-,! &$$#$0-.! @+.!

2%?=&03#.F! @U.,*2&! ?&/3&00&.! -44-.! &$$&/! 0#?! 3&$! /U$3&0! 3#$0>?-.&0! *! />$$-4)&$&$0!

&$$#$0=4&/0-.!*!(#==!#?!&//!@[$2&!.-0-$U.-.$&0!>==?U.30&?(-/M!

H!-//!4-,!*!&//!=[;-.3&!?U$$*03#.0![0*3/-.!#<(!(&$,4*$2&.!2+.!';-$03&!3%.3&$!*,&2!.-34&?!

=[! @4-.&! $*;[-.F! ,U.! *)4&$,! =[! 0/*@/0$*;[M! H! ,-$$&! 0/>,*-! 3&./4U220! -$! 2.>==! >$2&!

'/#<3(#4?03;*$$#.0! &//*/%,-.! /*44! '/#<3(#4?0! 0/*@/0! .-34&?M! "-//&! 2+.0! @+.! &//! .-,&! >/! *!

;*43-$! ?[$! .-34&?-$! *! ,-$$&! 2.>==! >==@&//&0! 0[! 0#?! &$$#$0+.-$! (&@/! @+.! &;0*3/! &//!

@+.?-,4&M!!

!

C@!D<2%,-!!

"-$$&!>==0&/0!(&.!@+.!&;0*3/!&//!>$,-.0+3&F!0&?/!*!;*00!?[$!U;-$!&$&4%0-.&F!-$!2.>==!

>$2&!#<(!3%.34*2/!*$&3/*;&!'/#<3(#4?03;*$$#.0!^*![4,.&.$&!9EJ9B[._!/&$3&.F!.-@4-3/*#$-.!

0&?/![0*3/-.!3.*$2!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.M!5*,&.-!0%@/&.!,-$$&!>==0&/0!/*44!&//!

CU?@+.&!3;*$$#.$&0!.-3/*#$-.!?-,!,-/!0/*@/-/!(&@/!@+.!&;0*3/!&//!*!#<(!?-,!&$$#$0-.$&!

@+.?-,4&M!"-//&!2+.0!@+.!&//!*!0*$!/>.!.-,&!>/!(>.>;*,&F!0&?/!*!;*43-$!?[$F!,-/!

@+.-3#??-.!-$!,*03.-=&$0!,U.!-?-44&$M!!

!

E@!F&G4,$%H++:*:4'&-!

J 5&,!3+**!'/#<3(#4?!0/*@/!3#??>$*<-.&!*!#<(!?-,!0*$&!.-34&?&$$#$0-.`!!

! !

! B!

J 1>.!4''56--6#!-$!2.>==!3%.34*2/!*$&3/*;&!'/#<3(#4?03;*$$#.!*![4,.&.$&!9EJ9B[.!

,-00&!.-34&?&$$#$0-.`!!

J 1>.!0/#.!U.!-$!-;-$/>-44!,*03.-=&$0!(U.!-?-44&$`!

!

B@!I,%18!1(5!0'%,&*'+-!!

"-$!(U.!>==0&/0-$!U?$&.!&44/0[!0;&.&!=[!/.-!@.[2-0/U44$*$2&.M!"-$!@+.0/&!&;!,-00&F!0%@/&.!

/*44!&//!@&0/04[!;&,!'/#<3(#4?0!0/*@/F!2-$#?!0*$&!.-34&?&$$#$0-.F!3+**!3#??>$*<-.&M!a+.!

&//!/&!.-,&!=[!,-//&!(&.!C&2!/*//&/!=[!,-$!,-4!&;!';-$03&!3%.3&$0!0/%.,#3>?-$/!0#?!

@#.?>4-.&.!,-00!3U.$;U.,-$M!:$4*2/!'/#<3(#4?0!0/*@/0!3#??>$*3&/*#$0-$(-/!U.!,-//&!,-$!

?-0/!.-4-;&$/&!)-03.*;$*$2-$!&;!;&,!0/*@/-/!;*44!3#??>$*<-.&M⁷!"-$!@+.0/&!

@.[2-0/U44$*$2-$!)-0;&.&0!U;-$!>/*@.[$!-$!*$/-.;C>!?-,!0/*@/0*$@#.?&/+.!b&00-!

'+,-.)-.2M⁹!'+,-.)-.2!*$2[.!*!0/*@/-/0!3#??>$*3&/*#$0-$(-/!#<(!U.!,U.@+.!;U4!*$0&//!*!

#.2&$*0&/*#$-$0!3#??>$*3&/*#$0?[4M!!

G==0&/0-$0!&$,.&!@.[2-0/U44$*$2F!]!(>.!3%.34*2/!*$&3/*;&!'/#<3(#4?03;*$$#.!*![4,-.$!9EJ 9B![.!4''56--6#!'/#<3(#4?0!0/*@/0!3#??>$*3&/*#$!]!)-0;&.&0!2-$#?!*$/-.;C>-.M!7B!

0/%<3-$!*$@#.?&$/-.!0#?!/*44(+.!,-$$&!?[42.>==!(&.!@[//!0-!0&?/4*2&!'/#<3(#4?0!0/*@/0!

.-34&?&$$#$0-.!#<(!,U.-@/-.!*$/-.;C>&/0!#?!0*$&!/&$3&.!#<(!.-&3/*#$-.!3.*$2!,-00&M!!

a+.!&//!0;&.&!=[!,-$!/.-,C-!@.[2-0/U44$*$2-$!]!(>.>;*,&F!0&?/!*!;*43-$!?[$F!,-/!

@+.-3#??-.!-$!,*03.-=&$0!?-44&$!,-/!'/#<3(#4?0!0/*@/!3+**!@+.?-,4&!#<(!(>.!&$$#$0-.$&!

@&3/*03/!4''56--67!](&.!C&2!&$&4%0-.&/!*$/-.;C>=-.0#$-.$&0!0;&.!?-,!(CU4=!&;!

3>4/>./-#.-/*3-.$!#<(!0#<*#4#2-$!'/>&./!1&440!/-#.*!3.*$2![03[,&.03&=M⁸!1&440!/-#.*!0%@/&.!

/*44!&//!;&.&!-//!.-,03&=F!?-,!;*43-/!.-0>4/&/-/!3&/-2#.*0-.&0M!!

"-/!&$$#$0?&/-.*&4!0#?!)-(&$,4&0!*!>==0&/0-$!)-0/[.!&;!?-.!U$!-//!,-<-$$*>?!&;!

/>$$-4)&$-&$$#$0-.M!c-.!0=-<*@*3/!.+.!,-/!0*2!#?!98!0/%<3-$!.-34&?&$$#$0-.!0#?!&44&!

@*2>.-.&/!*!3#44-3/*;/.&@*3-$M!"-$!U4,0/&!&$$#$0-$!U.!@.[$!9EE7!#<(!,-$!0-$&0/-!U.!@.[$![.!

9E79M^S!"-00;U..-!*$$-@&//&.!?&/-.*&4-/!*$/-!&$$#$0-.!@.[$![.!9E78M!"-//&!,[!,-/!*$/-!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7!H$/-.;C>!'+,-.)-.2!9WE89E78!

9!H$/-.;C>!'+,-.)-.2!9WE89E78!

8!1&44!7ZW8!

S!H$/-.;C>!'+,-.)-.2!9WE89E78!

! !

! A!

>==,&2&/0!&//!9E78![.0!&$$#$03&?=&$C!04U==/0!@+..U$!?*//!>$,-.!=[2[-$,-!

>$,-.0+3$*$2M!!

!

89:!,3;#<=7=+=;6#!

!6.#/0!&//!'/#<3(#4?0!0/*@/0!.-34&?!-$4*2/!';-$03&!3%.3&$0!0/%.,#3>?-$/!0%@/&.!/*44!&//!$[!

?[42.>==-$!Q&44&QF^B!)-(&$,4&.!>==0&/0-$!-$)&./!-$!2.>==!>$2&!;>N$&0!>==@&//$*$2!

3.*$2!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.M!"-//&!?#/*;-.&0!>/*@.[$!,-/!@&3/>?!&//!/*,*2&.-!

@#.03$*$2!;*0&/!&//!3%.3&$!/%<30!(&!-$!$[2#/!@+.0;&2&,!.-4&/*#$!/*44!>$2&F^A!;*43-/!*!0*$!/>.!

2+.!,-?!*$/.-00&$/&!&//!0/>,-.&M!5*,&.-!)-(&$,4&.!>==0&/0-$!-$)&./!,-!&$$#$0-.!

'/#<3(#4?0!0/*@/!4[/*/!@*2>.-.&!*!3#44-3/*;/.&@*3-$M!"-//&!/.#/0!&//!&$$#$0+.-$!U;-$!2C#./!

.-34&?!@+.!0*$!;-.30&?(-/!*!-N-?=-4;*0!,&20=.-00M^W!T;2.U$0$*$2-$!0#?!;*00-.4*2-$!

2C#./0!=[!2.>$,!&;!/*,0).*0/F!3&$!3&$03-!?#/*;-.&0!>/*@.[$!-//!&$/&2&$,-!#?!&//!,-/!

/.#4*2/;*0!U.!@4-.!>$2&!;>N$&!0#?!.-2-4)>$,-/![3-.!3#44-3/*;/.&@*3!U$!0#?!;&.C-!?#.2#$!

4U0-.!?#.2#$/*,$*$2-$M!!!!

!

89>!?36*+-6-+36!+=-1#3@41#!

"-!#;&$!$U?$,&!.-34&?&$$#$0-.$&!4*22-.!/*44!2.>$,!@+.!7B!0/%<3-$!-$03*4,&!3;&4*/&/*;&!

,C>=*$/-.;C>-.!!d!9EJSB!?*$M!5&4-/!&;!?-/#,!?#/*;-.&0!>/*@.[$!,-/!@&3/>?!&//!>==0&/0-$!

,-4;*0!0%@/&.!/*44!&//!.-,#2+.&!@+.!-$!2.>==!*$@#.?&$/-.0!.-&3/*#$-.F![0*3/-.F!3U$04#.!0&?/!

>==@&//$*$2&.!3.*$2!,-/!?&/-.*&4!0#?!#)0-.;-.&0M!e<(!*$/-!0U44&$!0/>,-.&0!C>0/!,-$!

0#./-$0!,&/&!?-,!(CU4=!&;!,C>=*$/-.;C>-.M^Y!V;&4*/&/*;&!*$/-.;C>-.!0#?!@+4C&3/4*2-$!U.!-//!

/*44;U2&2[$200U//!;*,!3;&4*/&/*;!@#.03$*$2^Z!#<(!)*,.&.!&44/0[!/*44!-$!@+.0/[-40-!@+.!,-!0U//!

;&.=[!*$@#.?&$/-.!@+.0/[.!$[2#/M^7E!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

B!H$/-.;C>!'+,-.)-.2!9WE89E78!

A!f.#?&$,-.!9EES!

W!H$/-.;C>!'+,-.)-.2!9WE89E78!

Y!"-$0<#?)-!9EEZF!00M989J!988!

Z!g&/-4!h!"&;*,0#$!9E77F!0M7S!

7E!"-$0<#?)-!9EEZF!0MS98!

! !

! W!

H$/-.;C>@.[2#.$&!^0-!)*@#2&/!&==-$,*N_!0#?!0%@/&.!/*44!&//!3&./4U22&!*$@#.?&$/-.$&0!

&//*/%,-.!3.*$2!'/#<3(#4?0!0/*@/0!&$$#$0?&/-.*&4F!U.!*!-$!0/.U;&$!&//!*$/-!0/%.&!$[2.&!

0;&.F!+==$&!/*44!0*$!3&.&3/U.M!5*,&.-!(&.!3;*$$#.$&!*$@#.?-.&/0!#?!&//!0=#$/&$&!>/.#=!

?-,!@+.,-4!3>$$&/!%//.&0!>$,-.!,-$!/*,!,-!#)0-.;-.&/!&$$#$0?&/-.*&4-/M!a.[2#.$&!0#?!

&44/0[!(&.!-$!4[2!2.&,!&;!0/.>3/>.-.*$2F!,[!,-!U.!+==$&F!(&.!;*,&.-!U;-$!-$!(+2!2.&,!&;!

0/&$,&.,*0-.*$2!*!/&3/!?-,!&//!,-!0[!3&44&,-!+==$&!@.[2#.$&![/-.3#??&$,-!0/U440!*!

0&??&!#.,$*$2M⁷⁷!!

5*,&.-!3&$!U;-$!$U?$&0!&//!0&?/4*2&!*$/-.;C>-.!0=-4&/0!*$!#<(!/.&$03.*)-.&/0!0&?/!&//!

*$/-.;C>#)C-3/-$!>/4#;&/0!&$#$%?*/-/M!!

H$/-.;C>-.$&!(&.!([44*/0!=[!3&@i-.F!=[!)*)4*#/-3F!=[!'/>,-$/=&4&/0-/F!+;-.!'3%=-!0&?/!

(-??&!(#0!-$0/&3&!*$@#.?&$/-.M!!

!

89A!B#36*!

'&?/4*2&!*$@#.?&$/-.!0#?!*$2[.!*!0/>,*-$!U.!3;*$$#.!@+,,&![.!7ZYY]7ZZ7!#<(!U.!

>==;>N$&!*!'/#<3(#4?0@+.#./-$!f.#??&M!"[!0&?/4*2&!3;*$$#.!*!0/>,*-$!=[!-//!-44-.!

&$$&/!0U//!*$2[.!*!?*$!)-3&$/03&=03.-/0F!*$$-)U.!,-//&!&//!>.;&4-/!U.!-//!0[!3&44&/!

)-3;U?4*2(-/0>.;&4M⁷⁹!c-,!,-//&!0&2/F!U.!,-/!,#<3!;*3/*2/!&//!>==?U.30&??&!&//!

)-3;U?4*2(-/!*$/-!=[!$[2#/!0U//!)+.!?#/*;-.&!;&4-/!&;!*$@#.?&$/-.M⁷⁸!G.;&4-/!3&$!3&$03-!

0$&.&.-!?#/*;-.&0!>/*@.[$!,-/!@&3/>?!&//!*$@#.?&$/-.$&!>/2+.!-//!?%<3-/!(#?#2-$/!

>$,-.4&2F!;*43-/!;*,&.-!3&$!/U$3&0!;&.&!/*44!@+.,-4!*!&.)-/-/!?-,!&//!@+.0+3&!=[;*0&!

/-$,-$0-.M!\&<3,-4-$!?-,!,-/!;&4,&!>.;&4-/!U.!,#<3!&//!.-0>4/&/-/!*$/-!U.!.-=.-0-$/&/*;/!

@+.!0&?(U44-/!*!+;.*2/M!"-//&!/*44!/.#/0!3&$!.-0>4/&/!(&!-//!-2-$;U.,-!*!0*2F!,[!,-/!/.#/0!&44/!

0U2-.!$[2#/!#?!-$!4*/-$!,-4!&;!,-$!/U$3/&!?[42.>==-$M!!

!

!

!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

77!g&/-4!h!"&;*,0#$!9E77F!0MY7!

79!"-$0<#?)-!9EEZ!

78!"-$0<#?)-!9EEZ!

! !

! Y!

898!C15*1D+3+-1-!

"[!,-$!0[!3&44&,-!(-.?-$->/*03&!@#.03&.-$!&$0-.!0*2!(&!0;[./!&//!Q0U//&!=&.&$/-0Q!3.*$2!

,-!-2$&!Q@U.2&,-!24&0+2#$-$QF^7S!(&.!.-0>4/&/-/!?-,!0/#.!0&$$#4*3(-/!=[;-.3&/0!&;!?*$!

$[2#/!03-=/*03&!*$0/U44$*$2!/*44!'/#<3(#4?0!0/*@/0!&$$#$0?&/-.*&4M!6.#/0!&//!C&2!/.#.!?*2!

;&.&!?-,;-/-$!#?!?*$&!0[!3&44&,-!Q@U.2&,-!24&0+2#$QF!;#.-!,-/!$&*;/!&//!/.#!&//!-$!0[,&$!

?-,;-/-$(-/!=[!$[2#/!0U//!03>44-!.U<3&!@+.!&//!*$/-!=[;-.3&!,-!04>/0&/0-.!0#?!,.&0!*!

>==0&/0-$M!:N-?=-4;*0!3&$!,-/!/U$3&0!&//!0[,&$/!0#?!/#$@&44!#<(!?*?*3!#?-,;-/-/!3&$!

(&!0/%./!*$@#.?&$/-.$&M!!

c-,!,-//&!0&2/!(&.!,#<3!-$!0/.U;&$!2C#./0!&//!*!0/+.0/&!?+C4*2&!?[$!@+.0+3&!2-!-$!.U//;*0!

)*4,!&;!*$@#.?&$/-.$&0!.-,#2+.-40-.M!a+.(#==$*$20;*0!(&.!?*$!>==@&//$*$2!3.*$2!

?&/-.*&4-/!*$/-!(&@/!-$!&44/!@+.!0/#.!*$;-.3&$!=[!,-/!0#;.&$,-!0#?!03-//!)4&$,!<*/&/-$M!!

5*,&.-!(&.!-$!&$0/.U$2$*$2!2C#./0!@+.!&//!0&?/4*2&!3;*$$#.$&!&44&!03&!(&!3#??*/!/*44!/&40!*!

>==0&/0-$F!?-$!?-,!,-//&!0&2/F!@*$$0!-$!.*03!&//!0[!*$/-!U.!@&44-/M!"-//&!)-.#.!@.&?@+.&44/!

=[!&//!;*00&!*$@#.?&$/-.!;&.*/!?-.!;U4/&4*2&!U$!&$,.&M!T//!-$0/&3&!*$@#.?&$/-.!;&4/!&//!

@&//&!0*2!3#./@&//&/!3&$!;*00-.4*2-$!(&!&//!2+.&!?-,!&//!,-!*$/-!3U$/!&//!&$$#$0?&/-.*&4-/!*!

0*2!;U<3/!0U.03*4/!?[$2&!/&$3&.!#<(!@>$,-.*$2&.M!!

!

89E!?<**F#+-+F!

"[!>==0&/0-$0!.-0>4/&/,-4!,-4;*0!)&0-.&0!=[!>//&4&$,-$!0&?/!=[!*$@#.?&/*#$!

/*44(&$,&([44-/!&;!-$)&./!-$!0/*@/0*$@#.?&/+.F!,-/!;*44!0U2&!-$!/.-,C-,-4!&;!'/#<3(#4?0!

0/*@/0!3#??>$*3&/*#$0-$(-/F!@*$$0!-$!.*03!&//!,-$$-0!>==@&//$*$2&.!-$0&?/!@[//!

.-=.-0-$/-.&!0/*@/-/0!3#??>$*3&/*#$0&.)-/-M!"-//&!(&.!,#<3!*$/-!2[//!&//!=[;-.3&!,[!

.-0/-.&$,-!0/*@/0*$@#.?&/+.-.!*$/-!;&.*/!&$/.U@@)&.&!>$,-.!>==0&/0-$0!2[$2M!!

j//-.4*2&.-!-$!0;&2(-/!?-,!>==0&/0-$!U.!,-/!@&3/>?!&//!0&?/4*2&!*$@#.?&$/-.!=[!-//!-44-.!

&$$&/!0U//!&44/0[!*$2[.!*!?*$!;*,2&,-!>?2U$2-03.-/0M!V;*$$#.$&!0#?!;*00-.4*2-$!

*$/-.;C>&/0!-$03*4/F!3U$$-.!&44/0[!0-,&$!*$$&$!)[,-!?*2!#<(!;&.&$,.&M!"-//&!3&$!/U$3&0!

?-,@+.&!&//!*$@#.?&$/-.$&!@>$$*/!,-/!0;[./!&//!0;&.&!>==.*3/*2/!=[!,-!@.[2#.!0#?!0/U44/0M!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7S!g&/-4!h!"&;*,0#$!9E77F!0MY8!

! !

! Z!

6.#/0!&//!3;*$$#.$&!>/4#;&/0!&$#$%?*/-/!4U.!,-!#;&$!$U?$,&!#?0/U$,*2(-/-.$&!&44/0[!(&!

-$!$-2&/*;!*$;-.3&$!=[!.-0>4/&/-/0!.-4*&)*4*/-/M!!

!

89G!H-$IF&$*J7!7-+5-7!#1F*6J6==$=71#!

'/#<3(#4?0!0/*@/0!U4,0/&!.-34&?&$$#$0!U.!,&/-.&,![.!9EE7!#<(!;*//$&.!0[4,-0!#?!&//!

0/*@/-/!&44/!0-,&$!';-$03&!3%.3&$0!,-4$*$2!@.[$!0/&/-$!;*,!?*44-$$*>?03*@/-/F!2C#./!.-34&?!

@+.!0*$!;-.30&?(-/M!^7B!!

H!?[$2&!@&44!(&.!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.!03&=&/0!=[!4#3&4!$*;[!#<(!,-00&!(&.!

,[!&.)-/&/0!@.&?!&;!0/*@/-/0!3#??>$*3&/*#$0-$(-/M!V#??>$*3&/*#$0-$(-/!)-0/[.!&;!/;[!

0/*@/0*$@#.?&/+.-.!0&?/!-$!2.&@*03!@#.?2*;&.-F!0#?!;*,&.-!U;-$!(&.!/*44!>==2*@/!&//!

&$0;&.&!@+.!0/*@/-/0!-N/-.$&!0&?/!*$/-.$&!3#??>$*3&/*#$M!

H!&.)-/-/!?-,!&//!/&!@.&?!,-!.-34&?&$$#$0-.!0#?!*$2[.!*!>$,-.0+3$*$2-$F!(&.!

&.)-/02.>==-$!;&.*/!/;>$2-$!&//!@+.([44&!0*2!/*44!-$!.&,!0/%.,#3>?-$/M!"-00&!

0/%.,#3>?-$/!*$$-@&//&.!.*3/4*$C-.!@+.!(-4&!';-$03&!3%.3&$0!3#??>$*3&/*#$!#<(!2U44-.!

)4&$,!&$$&/!3#??>$*3&/*#$-$0!*$$-([44F!>/0--$,-!0&?/!3&$&4-.M!!

:@/-.!&//!3#??>$*3&/*#$0-$(-/-$!&.)-/-/!@.&?!.-34&?3&?=&$C-.$&F!(&.!,-00&!*$$&$!,-!

2[//!*!/.%<3F!2#,3U$$&0!&;!4-,$*$202.>==-$!=[!0/*@/03&$04*-/M!b-,$*$202.>==-$!)-0/[.!&;!

-$!@+.;&4/$*$20<(-@F!-$!>/;-<34*$20<(-@!0&?/!&;!)*03#=!:;&!f.>$$-M!"-!0-$&.-!

3#$0>4/-.&0!@+.!&//!@&0/04[!&//!&$$#$0-.$&!2#,3U$$0!2U44&$,-0!,-00!/-#4#2*03&!*$$-([44M!!

:$!,-4!&;!'/#<3(#4?0!0/*@/0!.-34&?&$$#$0-.F!(&.!;*00&![.!(&@/!0*//!>.0=.>$2!*!';-$03&!

3%.3&$0!$&/*#$-44&!.-34&?3&?=&$C-.M!"-00&!&$$#$0-.!(&.!,[!#@/&!/&2*/0!@.&?!&;!,*;-.0-!

0/#.&!.-34&?)%.[-.M!c-$!?%<3-/!&;!0/*@/-/0!.-34&?!(&.!&44/0[!3.--.&/0!=[!0/*@/0$*;[M!!

'/#<3(#4?0!0/*@/0!-N/-.$&!3#??>$*3&/*#$!*$$-@&//&.!@+.>/#?!&$$#$0-.*$2!*!

3#44-3/*;/.&@*3-$!)4&$,!&$$&/!U;-$!.-34&?!*!,&20=.-00F!)*#.-34&?!0&?/!=[!I-))-$M^7A!

!

!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7B!H$/-.;C>!'+,-.)-.2!9WE89E78!

7A!H$/-.;C>!'+,-.)-.2!9WE89E78!

! !

! 7E!

89K!L=5$#J6=-1#=6!!

'&?/4*2&!*$@#.?&$/-.!0#?!*$2[.!*!,-$$&!0/>,*-!U.!3;*$$#.!)#0&//&!*!'/#<3(#4?!#<(!&44&!U.!

>==;>N$&!*!,-!?-.!;U4?[-$,-!0/&,0,-4&.$&!&;!0/&,0,-40#?.[,-/!f.#??&M!V4&00?U00*2/!

(+.!,-!@4-0/&!/*44!?-,-434&00-$F!?-.!0=-<*@*3/!/*44!?-,-434&00-$0!+;.-!03*3/M!V;*$$#.$&!

*$2[.!=[!-//!-44-.!&$$&/!0U//!*!;&.&$,.&0!;*,2&,-!>?2U$2-03.-/0!#<(!,-!/%<30!+;-.4&2!

;&.&!2&$03&!0-2.-2-.&,-!@.[$!&$$&/!>?2U$2-M!5*,&.-!3&$!,-/!/U$3&0!&//!3;*$$#.$&!

*$$-(&.!4*3$&$,-!(&)*/>0M!!

"[!,-!&44&!>/4#;&/0!&$#$%?*/-/F!=.-0-$/-.&0!,-!$-,&$!>$,-.!=0->,#$%?k!!

QT4;&QF!@+,,!7ZYZF!.-,&3/+.!@+.!-//!?*$,.-!4*;00/*40?&2&0*$!#<(!>/)*4,&.!0*2!/*44!@#/#2.&@M!

c-,4-?!*!';3!#<(!>==2-.!&//!(#$!*$/-!(&@/!3#$/&3/!?-,!'/#<3(#4?0!0/*@/!,-/!0-$&0/-![.-/M!!

Qf*&$<&QF!@+,,!7ZZ7F!-4-;&00*0/-$!=[!-$!03#4&!*!'/#<3(#4?0#?.[,-/M!c-,4-?!*!';3!?-$!

)-03.*;-.!0*$!.-4&/*#$!/*44!';-$03&!3%.3&$!0#?!#)-@*$/4*2M!!

QD&?*44&QF!@+,,!7ZYZF!0/>,-.&.!/*44!0C>32%?$&0/M!l.!*$/-!?-,4-?!*!';3!#<(!>==2-.!0*2!;&.&!

&/-*0/M!!

Q"&$*-44&QF!@+,,!7ZYZF!0/>,-.&.!)-/--$,-;-/-$03&=!#<(!U.!=#4*/*03/!&3/*;!*!-//!

>$2,#?0@+.)>$,M!c-,4-?!*!';3!#<(!&$0-.!0*2!;&.&!&2$#0/*3-.M!!

Q:.*3&QF!@+,,!7ZYZF!0/>,-.&.!/*44!=0%3#4#2M!c-,4-?!*!';3!#<(!>==2-.!&//!(#$!03>44-!;&.*/!

3#$@*.?-.&,!#?!,-/!*$/-!;#.-!@+.!&//!(#$!*!0*0/&!0/>$,!*0/U44-/!@*<3!-.)C>,&$,-!#?!&//![3&!

=[!03*,.-0&!/*44!T4=-.$&M!!

Qa.-C&QF!@+,,!7ZYZF!0/>,-.&.!=[!0<-$03#4&M!c-,4-?!*!';3!?-$!U.!/%,4*2!?-,!&//!=[=-3&!&//!

,-/!-$)&./!)-.#.!=[!&//!(#$!;&.*/!@+.!4&/!@+.!&//!2[!>.M!!

QR-.&4,*$-QF!@+,,!7ZYZF!&.)-/&.!=[!gXJ)%.[M!c-,4-?!*!';3!#<(!>==2-.!&//!(#$!;&.*/!*!

3#$/&3/!?-,!';3!-$!,-4!,-$!0-$&0/-!/*,-$M!"-//&!,[!(#$!0$&./!03&!)4*!R>,@+.U4,-.M!

T$$&.0!-C!&3/*;M!!

Q1&$$&QF!@+,,!7ZYZF!0/>,-.&.!/*44!*$2-$C+.M!l.!0-,&$!7S![.0![4,-.!*$/-!?-,4-?!*!';3M!!

QH0&)-44&QF!@+,,!7ZZEF!0/>,-.&.!C>.*,*3M!c-,4-?!*!';3!#<(!>==2-.!&//!3#$/&3/-$!03-.!*!

0&?)&$,!?-,!)-2.&;$*$2&.F!,#=!#0;M!!

! !

! 77!

Qm#0-@*$QF!@+,,!7ZYZF!&.)-/&.!*!34U,)>/*3M!c-,4&?!*!';3!#<(!>==2-.!&//!,-/!)4&$,!&$$&/!

)-.#.!=[!(#$!*!@.&?/*,-$!2U.$&!;*44!2*@/&!0*2!*!3%.3&$M!!

QV&/*$3&QF!@+,,!7ZYZF!0/>,-.&.!/*44!0;-$034U.&.-M!c-,4-?!*!';3!#<(!>==2-.!&//!3#$/&3/-$!

03-.!*!0&?)&$,!?-,!)-2.&;$*$2&.F!,#=!#0;M!!

Qb#;&QF!@+,,!7ZYZF!&.)-/&.!=[!@+.03#4&M!'3&!=[)+.C&!=0%3#4#2*=.#2.&??-/!/*44!(+0/-$M!

c-,4-?!*!';3F!?-$!>==2-.!&//!?-,4-?03&=-/!)-.#.!=[!&//!(#$!;&.*/!@+.!4&/!@+.!&//!2[!>.!

3%.3&$M!!

Qc#&QF!@+,,!7ZYYF!&.)-/&.!=[!gXJ)%.[M!'-,&$!7Z[.0![4,-.!-C!4U$2.-!?-,4-?!*!';3M!!

Q\#;&QF!@+,,!7ZYZF!&.)-/&.!0#?!)&./-$,-.M!e0U3-.!=[!#?!(#$!U.!?-,4-?!*!';3M!!

Qe42&QF!@+,,!7ZZ7F!0/>,-.&.!?*4C+;-/-$03&=M!e0U3-.!=[!#?!(#$!U.!?-,4-?!*!';3M!!

!

K@!)*8*4'&,!21&$L:*:4-!

!';-$03&!3%.3&$!(&.!*$/-!?*$0/!0CU4;&!;&.*/!&3/*;!*!&//!>$,-.0+3&!(>.!,-!>==@&//&0!&;!

&44?U$(-/-$M!"-//&!(&.!@.&?@+.&44/!2C#./0!?-,!(CU4=!&;!/;[!?%<3-/!#?@&//&$,-!

>$,-.0+3$*$2&.F!,U.!@#3>0!;*00-.4*2-$!4-2&/!=[!';-$03&!3%.3&$0!?-,4-??&.M!!

'/>,*-$!B--#<01=!7$J!4-J6=6#!^7W!@+.@&//&,-0!&;!0#<*#4#2-$!m#$&0!f.#?&$,-.!.-,&$![.!

9EE8!#<(!;&.!-$!3;&4*/&/*;!>$,-.0+3$*$2!0#?!@+4C,-0!>==!&;!.&==#./-$!M10*1J!>NN8!.!

H31=7F6!FO#F6=%!0177!J10*1JJ6#!$I&!5#6J-+01=9^7Y!X&==#./-$!0%@/&,-!/*44!&//!.-,#2+.&!@+.!

?-,4-??&.$&0!.-4&/*#$!/*44!';-$03&!3%.3&$M^7Z!!

';-$03&!3%.3&$0!&$,.&!#<(!0-$&0/-!.&==#./!M10*1J!>N:N.!P=!7-40+1!F#+=;!76J-+0!$I&!

@.&?/*,QF^9E!U;-$!,-$!0*2$-.&,!f.#?&$,-.F!;*0&.!&//!-//!0/#./!?-,4-?0&$/&4!(&.!

@+./.#-$,-!@+.!3%.3&$!#<(!&//!';-$03&!3%.3&$!#@/&!>==4-;0!0*2$&4-.&!/.#F!(#==!#<(!

+==-$(-/M!"-//&!/*44!/.#/0!>==2-0!0[!?%<3-/!0#?!ZE!n!&;!?-,4-??&.$&!(&!-$!2&$03&!

0;&2!.-4&/*#$!/*44!';-$03&!3%.3&$M!H!,-$!?[$!?-,4-??&.$&!U.!*!3#$/&3/!?-,!3%.3&$!03-.!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7W!f.#?&$,-.!9EE8!

7Y!f.#?&$,-.!9EES!

7Z!f.#?&$,-.!9EES!

9E!f.#?&$,-.!9E77!

! !

! 79!

,-$$&!3#$/&3/!;*,!0[!3&44&,-!3%.34*2&!(&$,4*$2&.M!5*,&.-!>==2-.!.&==#./-$!&//!@[!

>==4-;-.!3%.3&$!0#?!.-4-;&$/F!?-$!&//!';-$03&!3%.3&$!(-4/!34&./!3&$!0=-4&!-$!.#44!*!&//!

;-.3&!0#?!-$!,-4!*!0&?(U44-/0!03%,,0$U/M!X&==#./-$!>==2-.!&//!-$!?&C#.*/-/!&;!,-00!

?-,4-??&.!U;-$!@#./0U//$*$20;*0!3#??-.!&//!;*4C&!;&.&!C>0/!?-,4-??&.M!f.#?&$,-.!

03.*;-.!U;-$!#?!';-$03&!3%.3&$0!@.&?/*,&!>/?&$*$2&.F!0#?!,U.*)4&$,!/%<30!;&.&!&//k!

Q0/U.3&!,-!3%.34*2&!3#$/&3/-.$&!)4&$,!,&2-$0!>$2&Q!0&?/!&//!3%.3&$!U;-$!Q?[0/-!

@+.)-.-,&!0*2!=[!&//!3%.3&$!3#??-.!&//!(&!-$!0;&2&.-!.-4&/*#$!/*44!3#??&$,-!

2-$-.&/*#$-.QM⁹⁷

l;-$!-$!,-4!0/>,-$/.&==#./-.!(&.!0%@/&/!/*44!&//!&;(&$,4&!)*4,-$!&;!';-$03&!3%.3&$M!

"-00&!(&.!,[!@.&?@+.&44/!;&4/!&//!@#3>0-.&!=[!';-$03&!3%.3&$0!*?&2-!#<(!=.#@*4M!

"U.*)4&$,!"J>==0&/0-$!Q#$5+*!R!+J6;1%!1**1#S!P=!7-40+1!63!-#1!!

5T#76J*+=;6#!+=$J!H31=7F6!FO#F6=%^>>!0#?!U?$&.!>$,-.0+3&!(>.!/.-!#4*3&!@+.0&?4*$2&.!

>==@&//&0!&;!0?[)&.$0@+.U4,.&.!0&?/!DJ>==0&/0-$!U+*01=!63!H31=7F6!FO#F6=!2!B=;6!

J<==+7F$#7!+J6;1!63!$#;6=+76-+$=1=!+!@<J5T#1*71!J10!!

$#;6=+76-+$=1=7!'#$5+*F⁹⁸!;&.0!0%@/-!&44/0[!@.&?2[.!&;!/*/-4$M!!

g.-<*0!0#?!*!,-$!#;&$!$U?$,&!DJ>==0&/0-$F!>==?U.30&??&.!,-$$&!>==0&/0!';-$03&!

3%.3&$0!$[2#/!=.-3U.&!@+.([44&$,-!/*44!>$2&M!"-//&!U.!3&$03-!*$/-!0[!3#$0/*2/!,[!

f.#?&$,-.!>==2-.!,-$!$[2#/!0;&2&!.-4&/*#$-$!?-44&$!3%.3&$!#<(!>$2&!?U$$*03#.F!0#?!

-$!&;!';-$03&!3%.3&$0!@.&?/*,&!>/?&$*$2&.M^9S!

G==0&/0-$0!>==4U22!3.*$2!.-34&?&$$#$0-.!?#/*;-.&.!C&2!>/*@.[$!,-/!@&3/>?!&//!,-$!

/*,*2&.-!@#.03$*$2-$0!0/.U;&$!&//!2.-==&!&//*/%,-.!3.*$2!';-$03&!3%.3&$F!&4,.*2!2C#./!

?-,!>/2[$20=>$3/!*!3#$3.-/&!.-34&?3&?=&$C-.M!

5*,&.-!&$0-.!C&2!?*//!>==4U22!0#?!.-4-;&$/!,[!';-$03&!3%.3&$!,-!@&</#!2+.!.-34&?!@+.!

0*$!#.2&$*0&/*#$F!;*43-/!*!0*$!/>.!)#.,-!*$$-)U.&!&//!,-!*!#<(!?-,!.-34&?-$!@+.?#,&0!;*4C&!

=[;-.3&!&44?U$(-/-$0!)*4,!&;!';-$03&!3%.3&$M!5*,&.-!3&$!,-/!/U$3&0!&//!

.-34&?&$$#$0-.$&!*!0*2!3&$!;&.&!-$!*$3+.0=#./!/*44!,-$!.-4&/*#$!';-$03&!3%.3&$!0[!2U.$&!

;-.3&.!;*4C&!(&!?-,!,&2-$0!>$2&M

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

97!f.#?&$,-.!9E77F!0M77!

99!1>4/i$!h!m#(&$00#$!9EES!

98!R+.&$O#$!9EEA!

9S!f.#?&$,-.!9EES!

! !

! 78!

M@!N'L4&/:8!D;,:$L'!L<&L':-!

';-$03&!3%.3&$!(&.!2&?4&!&$#.!0[!4[$2/!/*44)&3&!0#?!=[!7EEE]77EEJ/&4-/F!,-$!/*,!,[!

';-.*2-!3#?!&//!)4*.!3.*0/-/M^9B!c*00*#$U.-.!@.[$!@.&?@+.&44/!6%034&$,!#<(!:$24&$,!0=.-,!

,-/!$%&!)>,03&=-/!#<(!4&$,-/!(+.,-!/*44!-$!)+.C&$!/*44!,-$!.#?-.03J3&/#403&!3%.3&$M^9A!H!

#<(!?-,!3%.3#?+/-/!*!G==0&4&!7BZ8!&$/#20!*0/U44-/!,-$!b>/(-.03&!4U.&$!#<(!';-.*2-!;&.!

$>?-.&!-//!4&$,!,U.!=.#/-0/&$/*0?-$!.[,,-M^9W!H!@+.4U$2$*$2-$!*$$-)&.!,-//&!&//!&44!&$$&$!

.-4*2*#$0>/+;$*$2!U$!,-$!4>/(-.03&!3#?!&//!)4*!0/.U$2/!@+.)C>,-$!#<(!3%.3&$0!0/U44$*$2!

2&.&$/-.&,-0!*$/-!?*$0/!&;!3>$2-$M^9Y!!

H$/-!@+..U$!7YAE![.0!,*00-$/-.4&2!)4-;!,-/!?+C4*2/!&//!>//.U,&!>.!';-$03&!3%.3&$!@+.!&//!

*0/U44-/!*$/.U,&!&$,.&!&;!0/&/-$!-.3U$,&!@+.0&?4*$2&.M!"-//&!.-2-4;-.3!2U44,-!@.&?!/*44!#<(!

?-,!7ZB7!?-$!,U.-@/-.!)4-;!,-/!?+C4*2/!?-,!>//.U,-!>/&$!&//!@+.!,-$!,-4-$!)-(+;&!2[!

?-,!*!$[2#$!&$$&$!@+.0&?4*$2M^9Z!!

:2-$$&?$-/!Q';-$03&!3%.3&$Q!&$;U$,-0!*$/-!#@@*<*-44/!@+..U$!=[!?*//-$!&;!7YEEJ/&4-/!

#<(!0&?@>$,0)-/-<3$*$2-$!(&,-!,-4;*0!&//!2+.&!?-,!&//!,-/!*!';-.*2-!>$,-.!,-$$&!/*,!

(&,-!)4#??&/!>==!$[2#/!&;!-$!.-4*2*+0!=4>.&4*0?M^8E!

7YEEJ/&4-/0!;U<3-40-.+.-40-!*$$-)&.!;*00-.4*2-$!&//!-$!.&,!$%&!@+.0&?4*$2&.!#<(!0&?@>$,!

)*4&,-0F!?-$!,-//&!*$$-)&.!@+.!,-$!,-4-$!*$/-!&//!&44&!,-00&!;*44-!?&.3-.&!&;0/[$,!@.[$!

0;-$03&!3%.3&$M⁸⁷!!

';-$03&!3%.3&$0!0/U44$*$2!/*44!0/&/-$!@+.U$,.&,-0!;*,!?*44-$$*>?03*@/-/M⁸⁹!"-00&!U.!

$>?-.&!0-=&.-.&,-F!?-$!';-$03&!3%.3&$!(&.!/.#/0!,-//&!-$!0U.0/U44$*$2!,[!,-$!-$4*2/!4&2!

U.!@&0/0/U44,!&//!;&.&!-//!-;&$2-40*03J4>/(-.03/!/.#00&?@>$,M⁸⁸!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

9B!f-N-44!h!1-440/.+?!9EE7F!00M!ZWJZY!

9A!f-N-44!h!1-440/.+?!9EE7F0MZY!

9W!f-N-44!h!1-440/.+?!9EE7F!07E7!

9Y!Bexell & Hellström 2001, s.102!

9Z!f-N-44!h!1-440/.+?!9EE7F!0MAA!

8E!f-N-44!h!1-440/.+?!9EE7F!0MZY!

87!f-N-44!h!1-440/.+?!9EE7F!0MAA!

89!f-N-44!h!1-440/.+?!9EE7F!0799T!

88!f-N-44!h!1-440/.+?!9EE7F!0M799T!

! !

! 7S!

5*,&.-!.-24-.&.!0;-$03!4&20/*@/$*$2!';-$03&!3%.3&$!/*44!&//!;&.&k!Q^JJJ_!-$!+==-$!

@#433%.3&F!0#?!*!0&?;-.3&$!?-44&$!-$!,-?#3.&/*03!#.2&$*0&/*#$!#<(!3%.3&$0!U?)-/-!

)-,.*;-.!-$!.*30/U<3&$,-!;-.30&?(-/QM^8S!!

';-$03&!3%.3&$0!(+20/&!)-04>/&$,-!#.2&$!U.!,-/!0[!3&44&,-!3%.3#?+/-/!#<(!';-$03&!

3%.3&$!U.!;*,&.-!>==,-4&,!*!/.-//#$!#4*3&!0/*@/M^8B!"-00&!0/*@/F!,U.*)4&$,!'/#<3(#4?0!0/*@/!

0#?!,-$$&!>==0&/0!@#3>0-.&.!=[F!4-,0!*!0*$!/>.!&;!-$!)*03#=M^8A!!

'/#<3(#4?0!0/*@/F!U.!=.-<*0!0#?!,-!+;.*2&!0/*@/-$F!U;-$!>==,-4&/!*!@+.0&?4*$2&.!;&.0!@%.&!

(>;>,>==2*@/-.! U.! &//! @*.&! 2>,0/CU$0/F! )-,.*;&! >$,-.;*0$*$2F! >/+;&! ,*&3#$*! 0&?/! &//!

?*00*#$-.&^8WM!!

c-,4-?03&=-/!)-3.U@/&0!2-$#?!,#=-/^8Y!#<(!AYn!&;!';-.*2-0!)-@#43$*$2!>==2-0!-$4*2/!

';-$03&!3%.3&$0!-2$&!>==2*@/-.!;&.&!?-,4-??&.!*!3%.3&$M^8Z!!!

';-$03&!3%.3&$!)-,.*;-.!-$!).-,!;-.30&?(-/!#<(!,-.&0!&.)-/-!*$$-@&//&.!)4&$,!&$$&/!-$!

,-4!*$/-.$&/*#$-44/!&.)-/-M^SE!!

!

G9:!,--!36#6!VF#+7-1=V!

6.#/0!&//!AYnF!,-/!;*44!0U2&!-$!?&C#.*/-/!&;!';-.*2-0!)-@#43$*$2!U.!?-,4-??&.!*!';-$03&!

3%.3&$F^S7!/&4&0!,-/!*!@#43?>$!*$/-!0U44&$!#?!';-.*2-!0#?!-//!>/&;!;U.4,-$0!?-0/!

0-3>4&.*0-.&,-!4U$,-.M^S9!!!

a+.!&//!@+.0/[!,-$!$[2#/!?#/0U2-40-@>44&!0*/>&/*#$-$!0;-$03&.$&!;-.3&.!)-@*$$&!0*2!*F!3&$!

,-/!@*$$&0!-//!;U.,-!*!&//!2[!/*44)&3&!*!4&$,-/0!(*0/#.*&M!"-//&!,[!';-.*2-0!(*0/#.*&!*$/-!

?*$0/!;*//$&.!#?!&//!)-2.-==-/!Q3.*0/-$Q!+;-./*,!(&@/!-$!$[2#/!;&.*-.&,!*$$-)+.,M^S8!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

8SW6;!$J!-#$776J54=0!'a'!7ZZYk7BZ7!

8B!f-N-44!h!1-440/.+?!9EE7F00M!799fJ!799!D!

8A!f-N-44!h!1-440/.+?!9EE7F0M!799!D!!

8W!f-N-44!h!1-440/.+?!9EE7F0M799"!

8Y!f-N-44!h!1-440/.+?!9EE7F!0M799"!

8Z!(//=0kooIIIM0;-$03&3%.3&$M0-o,-@&>4/M&0=N`*,pA8YZ7Z!

SE!(//=0kooIIIM0;-$03&3%.3&$M0-o,-@&>4/M&0=N`*,pABZ899!

S7!(//=0kooIIIM0;-$03&3%.3&$M0-o,-@&>4/M&0=N`*,pA8YZ7Z!

S9!6(>.@C-44!9E78F!0M7!

! !

! 7B!

T//!;&.&!4>/(-.03!3.*0/-$!;&.!/*,*2&.-!*!;[.!(*0/#.*&F!$U0/!*$!/*44!0%$#$%?/!?-,!&//!;&.&!

0;-$03!#<(!;*,&.-!;&.!,-/!Q3.*0/-$(-/-$Q!0#?!-$&,-!$&/*#$-$M^SS!

f-2.-==-/!Q3.*0/-$Q!0#?!*,&2!*$/-!0U44&$!>==@&//&0!0#?!$[2#/!0$U;/!#<(!)-2.U$0&$,-F!

;*//$&,-!&44/0[!/*,*2&.-!0$&.&0/!#?!.&3&!?#/0&/0-$M^SB!"-$!)-2.-==0@+.U$,.*$2!0#?!+;-.!

/*,!(&.!03-//!>==2-0!)-.#!=[!-$!.&,!@&3/#.-.!,U.*)4&$,!>==3#?0/-$!&;!-//!=4>.&4*0/*03/!

3.*0/-/!4&$,03&=!0&?/!,-$!0-3>4U.&!.-4*2*#$03.*/*3-$0!@.&?@&./M^SA!!!

!

T;2+.&$,-!/%<30!*$/-!?*$0/!7ZEEJ/&4-/0!@+.U$,.&,-!.-4&/*#$!?-44&$!3%.3&!#<(!0/&/!(&!

;&.*/M^SW!a+.U$,.*$2&.$&!)-0/#,!)4&$,!&$$&/!&;!7ZB7![.0!.-4*2*#$0@.*(-/04&2!0&?/!-$!

3.*0/-$,#?0>$,-.;*0$*$2!0#?!*$/-!4U$2.-!03-,,-!*!.-2*!&;!3%.3&$M^SY!"-//&!*$$-)&.!*!

@+.4U$2$*$2-$!&//!3%.3&!#<(!0/&/!0$&./!3#?!&//!>==@&//&0!0#?!/;[!0-=&.&/&!&3/+.-.M^SZ!e<(!

=&.&,*2?03*@/-/!03-,,-!@+.!+;.*2/!U;-$!*!-//!';-.*2-!,U.!@#43.+.-40-.$&!&44/!?-.!(&,-!

3#??*/!&//!0=-4&!-$!&;2+.&$,-!.#44!*!&//!@&0/0/U44&!,-$!*!0&?(U44-/!.[,&$,-!,#N&$M^BE! H!/&3/!?-,!&//!3%.3&$0!/*,*2&.-!0/U44$*$2!*!;*00!2.&,!(#/&,-0!&;!0-3>4U.&!.-4*2*#$03.*/*3-.F!

(&,-!$>!,-00&!=4+/04*2/!U;-$!-$!=[;-.3&$!=[!;&,!)-2.-==-/!Q3.*0/-$Q!(&,-!@+.!

3#$$#/&/*#$M^B7!f-2.-==-/!0#?!&;!&44?U$(-/-$!/*,*2&.-!(&,-!>==@&//&0!0#?!$[2#/!&;!-//!

=&.&=4%)-2.-==!*$$-@&//&$,-!Q-$!.&,!0U//!&//!;&.&!3.*0/-$!=[QF!@*<3!&;!.-4*2*#$03.*/*3-.!-$!

?%<3-/!?-.!0$U;!)-2.-==0@+.34&.*$2!0#?!3$&==&0/!;&.!3U$04*2!@+.!$%&$0-.M^B9!!

f*0&../!$#2!,-4&,-0!.-4*2*#$03.*/*3-.$&0!)-2.U$0&$,-!>==@&//$*$2!#?!

3.*0/-$,#?0)-2.-==-/!U;-$!&;!;U<3-40-3.*0/$&M^B8!e<(!U;-$!,-!;U<3-40-3.*0/$&!2*<3!/*44!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

S8!6(>.C-44!9E78!

SS!6(>.@C-44!9E78F!0MS!

SB!6(>.@C-44!9E78F!0MS!

SA!6(>.@C-44!9E78F!0MB!

SW!6(>.@C-44!9E78!

SY!6(>.@C-44!9E78F!0M7W!

SZ!6(>.@C-44!9E78F!0M7W!

BE!6(>.@C-44!9E78F!0M7B!

B7!6(>.@C-44!9E78F!07A!

B9!6(>.@C-44!9E78F!0M7A!

B86(>.@C-44!9E78F!0M9S!

! !

! 7A!

&$2.-==!?#/!,-$!0/&/03%.3&!0#?!*$/-!=[!$[2#/!0U//!4U$2.-!/%<3/-0!(&!$[2#/!

/#43$*$20@+.-/.U,-!*!/&4-/!#?!;&,!Q3.*0/-$(-/Q!3>$,-!*$$-)U.&M^BS!

'#?!-//!0;&.!=[!,-//&!@+.0+3/-!';-$03&!3%.3&$!^0#?!;*00-.4*2-$!0CU4;!;&.!$[2#/!0=4*//.&,!

#<(!*$$-@&//&,-0!&;!-$!,-4!#4*3&!/-#4#2*03&!.+0/-.^BB_F!/.%<3&!=[!/&$3-$!#?!-$!@#433%.3&M^BA! a#433%.3#/&$3-$!0#?!*$$-)&.!-$!/&$3-!#?!-$!*$34>,-.&$,-!3%.3&!@+.!&44&!0;-$03&.F^BW! /%<3/-0!,-4;*0!0%@/&!/*44!&//!;&.&!-//!.-,03&=!?-,!;*43&!3%.3&$!03>44-!/&!/*44)&3&!

Q3.*0/-$(-/-$Q!?-,M^BY!"-//&!2C#.,-0!*!-$!0/.U;&$!&//!*$/-!4[/&!;&.3-$!;U<3-40-3.*0/$&!-44-.!

.-4*2*#$03.*/*3-.!(&!/#43$*$20@+.-/.U,-!*!/&4-/!#?!Q3.*0/-$(-/-$QM^BZ!!

6#43$*$20@+.-/.U,-/!;*0&,-!0*2!,#<3!@+.!4U$2-!0-,&$!;&.&!@+.4#.&/M^AE!"-$!0[!3&44&,-!

1-,-$*>0,-)&//-$!0#?!)4#00&,-!>==!=[!7ZBEJ/&4-/!#<(!0#?!*$$-)&.!&//!';-$03&!3%.3&$!

&$34&2&,-0!@+.!&//!*$$-(&!&44-(&$,&!#0?*<3.&$,-!&//.*)>/F^A7!;*0&,-!0$&.-!=[!&//!';-$03&!

3%.3&$!*$/-!=[!$[2#/!0U//!4U$2.-!(&,-!,-$!0/&.3&!0/U44$*$2!,-$!/*,*2&.-!(&@/M^A9!!

T//!*$/-!;*4C&!@+.3$*==&!,-$!-2$&!0CU4;)*4,-$!?-,!Q3.*0/-$(-/QF!/.#/0!&//!,-/!&44/0[!U.!

/%,4*2/!&//!3.*0/-$,#?-$!=[!?[$2&!0U//!@U.2&.!;[.&!4*;F!(&.!0#?!#;&$!;*0&/!&44/0[!&//!2+.&!

?-,!&//!2-?-$-!?&$!3$&==&0/!@+.3$*==&.!&//!;&.&!3.*0/-$!?-,!$[2#/!).-//!#<(!@#434*2/F!

>/&$!0$&.&.-!?-,!$[2#/!0$U;/F!)-2.U$0&$,-!#<(!4*/-!$-2&/*;/M^A8!

!

O@!),1&*-!P:(18*:4J8,(18*:4-!

\-,&$!.-,#2+.0!@+.!,-$!/-#.*!C&2!&$;U$/!?*2!&;!$U.!C&2!&$&4%0-.&/!*$@#.?&$/-.$&0!

.-&3/*#$-.!=[!.-34&?&$$#$0-.$&M!6-#.*$!0%@/&.!/*44!&//!;&.&!-//!.-,03&=F!?-,!;*43-/!

.-0>4/&/-/!3&/-2#.*0-.&0M!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

BS!6(>.@C-44!9E78F!0M9S!

BB!6(>.@C-44!9E78F!0M97!

BA!6(>.@C-44!9E78F!0M7Z!

BW!6(>.@C-44!9E78F!0M7Z!

BY!6(>.@C-44!9E78F!0M7Z!

BZ!6(>.@C-44!9E78F!0M7Z!

AE!6(>.@C-44!9E78F!0M97!

A7!6(>.@C-44!9E78F!0M97!

A9!6(>.@C-44!9E78F!0M97!

A8!6(>.@C-44!9E78!

! !

! 7W!

H!3>4/>./-#.-/*3-.$!#<(!0#<*#4#2-$!'/>&./!1&440!&./*3-4!Q:$<#,*$2!&$,!,-<#,*$2!*$!

6-4-;*0*#$!"*0<#>.<-Q!@.[$!7ZW8!.-,#2+.!1&44!@+.!,-$!03M!-$<#,*$2o,-<#,*$2J?#,-44!(&$!

>/&.)-/&/M^AS!H!,-$!@+.!?&00?-,*-@#.03$*$2-$!?%<3-/!)-/%,&$,-!&./*3-4$^AB!?-$&.!1&44!&//!

,-/!*!=.#,>3/*#$-$!&;!-//!;-.3!03-.!-$!*$3#,$*$2!^-$<#,*$2_!&;!-//!)>,03&=!0#?!0-,&$!

=[!-//!-44-.!&$$&/!0U//!&;3#,&0!^,-<#,*$2_!&;!)-/.&3/&.-$M^AA!!!

5*,&.-!?-$&.!1&44!&//!)-/.&3/&.-$!*!0*$!/>.!3&$!*$/&!/.-!#4*3&!=#0*/*#$-.!>/*@.[$!;*43-$!

(-$!&;3#,&.!;-.3-/!*!@.[2&M!"-00&!/.-!#4*3&!=#0*/*#$-.!U.k!

7M "#?*$&$/!/#43$*$2k!V#$0-$0>0!>==0/[.!?-44&$!&;0U$,&.-$!#<(!?#//&2&.-$!,[!

)-/.&3/&.-$!/#43&.!;-.3-/!*!-$4*2(-/!?-,!&;0U$,&.-$0!*$/-$/*#$-.M^AW!!!!

9M a+.(&$,4&$,-!/#43$*$2k!f-/.&3/&.-$!/#43&.!*!;*00!?[$!;-.3-/!*!-$4*2(-/!?-,!

&;0U$,&.-$0!*$/-$/*#$-.M^AY!

8M e==#0*/*#$-44!/#43$*$2k!f-/.&3/&.-$!&;3#,&.!*$/-!&440!;-.3-/!*!-$4*2(-/!?-,!

&;0U$,&.-$0!*$/-$/*#$-.M^AZ!!

5&,!2U44-.!,-$!,#?*$&$/&!/#43$*$2-$F!U.!,-//&!-$!%//-.0/!#;&$4*2!=#0*/*#$!&//!*$/&!,[!

;U4,*2/!@[!)-/.&3/&.-!@+.([44-.!0*2!0[!=&00!=&00*;/!/*44!-//!;-.3!0#?!=#0*/*#$-$!*!@.[2&!

@&3/*03/!3.U;-.M^WE!a+4C&3/4*2-$!*$$-)U.!,-//&!&//!-$!+;-.;U2&$,-!,-4!&;!&44&![03[,&.-!*$/&.!

,-!/;[!0-$&.-!=#0*/*#$-.$&!,[!-//!;-.3!03[,&0M^W7!!

1&440!/-#.*!*@.[2&0U//-.!&44/0[!3#??>$*3&/*#$0=.#<-00-$!0#?!-$!4*$CU.!=.#<-00!,U.!

)>,03&=!+;-.@+.0!,*.-3/!@.[$!&;0U$,&.-!/*44!?#//&2&.-M^W9!1&44!?-$&.!*0/U44-/!&//!

@+.([44&$,-/!?-44&$!&;0U$,&.-F!)*4,-.F!/-N/F!3#$/-N/!0&?/!?#//&2&.-!U.!?-.!3#?=4-N/!U$!

0[^W8!#<(!;*,&.-!?-$&.!(&$!&//!)-/.&3/&.-$0!?*$$-$F!/*,*2&.-!3>$03&=!0&?/!3>4/>.-44&!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

AS!1&44!7ZW8!

AB!R.*=0.>,!9E77F!0MZE!

AA!1&44!7ZW8F!0M78A!

AW!1&44!7ZW8F!0M78A!

AY!1&44!7ZW8F!0M78W!

AZ!1&44!7ZW8F!0M78Y!

WE!'/>.3-$!h!D&./I.*2(/F!9EEZF!0MW8!

W7!'/>.3-$!h!D&./I.*2(/F!9EEZF!0MW8!

W9!R.*=0.>,!9E77F!0MZE!

W8!'/>.3-$!h!D&./I.*2(/!9EEZF!0MW9!

! !

! 7Y!

#<(!0#<*&4&!.&?;-.3!0=-4&.!-$!&;2+.&$,-!.#44!@+.!?#//&2&$,-/!&;!,-/!&;0U$,&.-$!(&.!@+.!

&;0*3/!&//!@+.?-,4&M^WS!!!

1&440!/-#.*!(&.!;*00-.4*2-$!3.*/*0-.&/0!@+.!&//!;&.&!&$*$2-$!@+.!-$3-40=[.*2F!,[!,-$!-$)&./!

-.)C>,-.!)-/.&3/&.-$!/.-!#4*3&!=#0*/*#$-.!&//!*$/&M!5*,&.-!?-$&.!3.*/*3-.$&!&//!?&$!0#?!

)-/.&3/&.-!0$&.&.-!0/U$,*2/!)-@*$$-.!0*2!*!-$!=#0*/*#$!&;!3#$/*$>-.4*2/!@+.(&$,4&$,-!*!

@+.([44&$,-!/*44!-//!;-.3M^WB!!

"-//&!/*44!/.#/0!&$0-.!C&2!&//!/-#.*$!?-,!@+.,-4!3&$!&$;U$,&0!*!>==0&/0-$!,[!,-$!U.!-$3-4!

&//!@+.0/[M!5*,&.-!)&0-.&.!C&2!U;-$!?*//!0/U44$*$20/&2&$,-!=[!,-/!@&3/>?!&//!/-#.*$!(&.!0*$!

@+./CU$0/!*!&//!/&!(U$0%$!/*44!(-4&!,-/!;*,2&,-!/-N/)-2.-==-/F!,-/!;*44!0U2&!)[,-!

&$$#$0-.$&0!)*4,!0&?/!/-N/M^WA!!

H!?*$!>$,-.0+3$*$2!3#??-.!C&2!&44/0[!&//!&$;U$,&!?*2!&;!1&440!?#,-44!@+.!&//!@+.0+3&!

0;&.&!=[!(>.>;*,&!,-/!@+.-3#??-.!-$!,*03.-=&$0!?-44&$!,-/!'/#<3(#4?0!0/*@/!;*44!

@+.?-,4&!#<(!,-/!*$@#.?&$/-.$&!>==@&//&.!&//!&$$#$0?&/-.*&4-/!*!@.[2&!@&3/*03/!

>//.%<3-.M!5*,&.-!U.!/-#.*$!-//!.-,03&=!0#?!(CU4=-.!/*44!&//!)-03.*;&!(>.!0/#.!,-$!

-;-$/>-44&!,*03.-=&$0-$!?-44&$!&;0U$,&.-!#<(!?#//&2&.-!*!0[,&$/!@&44!U.M!!!!

T;04>/$*$20;*0!3&$!$U?$&0!&//!;*,&.-!0/>,*-.!;*0&/!&//!*$,*;*,-.!?-,!0&??&!0#<*&4&!

)&32.>$,!#@/&!*$/&.!0&??&!=#0*/*#$!*!@+.([44&$,-!/*44!-//!;-.3M^WW!!

!

R@!P:(18*:4!

a+4C&$,-!&;0$*//!0%@/&.!/*44!&//!.-,#2+.&!@+.!,-/!)>,03&=!'/#<3(#4?0!0/*@/!3+**!*$3#,&!*!0*$&!

&$$#$03&?=&$C-.!#<(!)&0-.&0!=[!-$!*$/-.;C>!?-,!0/*@/0*$@#.?&/+.!b&00-!'+,-.)-.2!

0&?/!,-4&.!&;!';-$03&!3%.3&$0!0/%.,#3>?-$/!@+.!#.2&$*0&/*#$-$0!3#??>$*3&/*#$M!!

'+,-.)-.2!>==2-.!&//!,[!&$$#$03&?=&$C-.$&!3.--.&/0!(&.!/&$3-$!;&.*/!&//!,-!

2-$#?2[-$,-!03&44!2-$#?0%.&0!&;!';-$03&!3%.3&$0!/.-!3U.$;U.,-$k!$U.;&.#F!+==-$(-/!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WS!'/>.3-$!h!D&./I.*2(/!9EEZF!0MWS!

WB!'/>.3-$!h!D&./I.*2(/!9EEZF!0MWB!

WA!'/>.3-$!h!D&./I.*2(/!9EEZF!0MW9!

WW!R.*=0.>,!9E77F!0MZ7!

! !

! 7Z!

#<(!(#==M^WY!://!3U.$;U.,-!*$$-)U.!-$4*2/!#.2&$*0&/*#$-$0!-2-/!0/%.,#3>?-$/!@+4C&$,-k!

QVU.$;U.,-$&!>/2+.!2.>$,=-4&.$&!@+.!';-$03&!3%.3&$0!3#??>$*3&/*#$M!"-!03&!2-!

.*3/$*$2!#<(!*$0=*.&/*#$!0[;U4!*$/-.$!0#?!-N/-.$/MQ!^WZ!!

c-.!0=-<*@*3/!*$$-)U.!,-00&!3U.$;U.,-$!@+4C&$,-k!!

X<#36#$!Y407!=<#36#$!+!3<#*01=!5T#1;Z#!6**-!6==6-9![1-!<#!+!Y40!7$J!3+!*131#%!#T#!$77!$I&!<#!

-+**9!?O#F6=7!4''0#6;!<#!6--!;1!#4J!5T#!01=!=<#36#$=!+!*+31-7!6**6!7F101=9!H31=7F6!FO#F6=!3+**!

36#6!1=!5T*@17*6;6#1!/Z01!+!36#06;1=!$I&!3+0!;407-@<=7-1#!$I&!&T;-+01#!7$J!0$'%!

F$=5+#J6-+$=%!3+;71*!$I&!/1;#63=+=;9!H31=7F6!FO#F6=!3+**!1#/@406!JT@*+;&1-1#!-+**!7-T0%!

15-1#-6=F1%!1=;6;1J6=;!$I&!-#$9!!H31=7F6!FO#F6=!3+**!36#6!=<#6!;*<0@1=!$I&!=<#6!7$#;1=%!

=<#6!*+31-7!Y409!H31=7F6!FO#F6=!5+==7!+!&1*6!H31#+;1!J10!7+=6!5T#76J*+=;6#!$I&!7+=6!FO#F$#%!

$I&!<#!1=!01*!63!01=!3<#*073+06!FO#F6=9!

!\''1=&1-!H31=7F6!FO#F6=!3+**!36#6!1=!T''1=!5$*FFO#F6!7$J!3<*F$J=6#!36#!$I&!1=!7$J!7TF1#!

7+;!-+**!&1==19!"#$1=01%!7TF6#1!1**1#!-3+3*6#1%!J10*1J!1**1#!+IF1!J10*1J!.!H31=7F6!FO#F6=!3+**!

36#6!T''1=!5T#!6**69!H31=7F6!FO#F6=!3+**!36#6!T''1=!5T#!15-1#-6=F1%!7-+**&1-!$I&!76J-6*!F#+=;!

*+3%!-#$!$I&!-3+31*9!H31=7F6!FO#F6=!3+**!;1!#4J!5T#!JT-1=!J10!Y40!$I&!J10!01=!7$J!-O0*+;67-!

*Z-1#!$77!6=6!31J!Y40!<#%!]1747!?#+7-479!.!H31=7F6!FO#F6=!3+**!36#6!1=!*O&T#0!FO#F6!7$J!3Z;6#!

36#6!<#*+;!F#+=;!-#$=7!3+**F$#!+!76J-+01=9!!H31=7F6!FO#F6=!<#!01J$F#6-+7F-!4''/O;;0!$I&!

/1#$1=01!63!J<==+7F$#7!1=;6;1J6=;9!,**6!F6=!36#6!J10!$I&!'Z31#F6!$I&!01-!5+==7!#4J!5T#!

JZ=;6!$*+F6!7<--!6--!-6!6=736#!5T#!7+=!-#$9!

!!^$''_!H31=7F6!FO#F6=!3+**!+=7'+#1#6!-+**!5#6J-+07-#$!+!/Z01!*@476!$I&!JT#F6!7-4=01#9!`6#@1!

J<==+7F6!<#!7F6'60!-+**!Y407!63/+*0!$I&!&6#!#<--!-+**!1--!3<#0+;-!*+39!?O#F6=!3+**!/+0#6!-+**!6--!

36#!$I&!1=!F6=!5Z!4''*136!7+--!*+3!7$J!J1=+=;754**-9!?O#F6=!3+**!;1!#4J!5T#!01=!-+**+-!7$J!;T#!

01-!JT@*+;-!6--!$#F6!*136!$I&!01-!&$''!7$J!F6=!/<#6!;1=$J!-+**F$#-6F$JJ6=01=%!7$#;!$I&!

0T09![1-!+==1#7-6!+!H31=7F6!FO#F6=!<#!-#$=!'Z!Y40%!1=!F<#*1F754**!a601#%!1=!*136=01!$I&!

=<#36#6=01!?#+7-47!$I&!1=!&1*+;%!*+3;+36=01!,=019![1=!-#$=!<#!1=!;Z36!7$J!7F6'67!+!JT-1-!

J1**6=!J<==+7F$#!$I&!01=!Y40!7$J!+!36#@1!T;$=/*+IF!3+**!/15#+6%!5T#<=0#6!$I&!7F6'6!.!'Z!

=O--9^bN!

!

'#?!@.&?2[.!&;!/-N/-$!#;&$!#<(!0#?!'+,-.)-.2!U;-$!=[=-3&.!U.!?[42.>==-$!&44&M!"-//&!

U.!#<30[!*$$-)+.,-$!*!';-$03&!3%.3&$0!&?)*/*#$!&//!;&.&!-$!@#433%.3&M^Y7!5*,&.-!+$03&.!

'+,-.)-.2!&//!@4-.!?U$$*03#.!03&!>==@&//&!';-$03&!3%.3&$!0#?!-$!=4&/0!@+.!,-?!#<(!

@+4C&3/4*2-$!*$$-)U.!,-//&!&//!?[4-/!?-,!3&?=&$C;-.30&?(-/-$!U;-$!U.!$[2#/!04&20!

.-4&/*#$003&=&$,-M!a+.!&//!,-//&!03&!03-!U.!&$$#$0+.-$!?-,;-/-$!#?!&//!,-!)+.!;&.&!

0%$4*2&!*!,-/!#@@-$/4*2&!.>??-/!#<(!-$!+3&,!0%$4*2(-/!U.!%//-.4*2&.-!$[2#/!&$$#$0-.*$2-$!

/%<30!0%@/&!/*44M^Y9!

!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

WY!H$/-.;C>!'+,-.)-.2!9WE89E78!

WZ!V#??>$*3&/*#$0=4&//@#.?!';3F!ESEA99!

YE!V#??>$*3&/*#$0=4&//@#.?!';3F!ESEA99!

Y7!V#??>$*3&/*#$0=4&//@#.?!';3F!ESEA99!0&?/!H$/-.;C>!'+,-.)-.2!9WE89E78!

Y9!H$/-.;C>!'+,-.)-.2!9WE89E78!

! !

! 9E!

S@!T,$/+%'%J':'+<$-!!

a+4C&$,-!&;0$*//!0%@/&.!/*44!&//!.-,#2+.&!@+.!0&?/!.-0#$-.&!3.*$2!(>.!*$@#.?&$/-.$&!

&;3#,&.!-44-.!/#43&.!,-/!)>,03&=!0#?!'/#<3(#4?0!0/*@/!*$3#,&/!*!&$$#$0?&/-.*&4-/M!

T$$#$0?&/-.*&4-/!@*$$0!&//!/*442[!*!)*@#2&/!&==-$,*NM!

!

VU1+;6V!/+*01#!$I&!6==6-!$/1;#+'*+;-!!

:$!;&$4*2!0%$=>$3/!,[!*$@#.?&$/-.$&!>//&4&.!0*2!3.*$2!?&/-.*&4-/F!/%<30!;&.&!3.*$2!;&4-/!

&;!)*4,-.M!f*4,-.$&!3#??-$/-.&0!?%<3-/!#@/&!*!$-2&/*;&!#.,&4&2!#<(!/%<30!*$/-!?*$0/!

;U<3&!-$!,-4!^&;!&$$#$0+.-$!/.#4*2-$!#+$03&,-_!3U$04#.M!!'/>$,/&40!>==2-0!,-!;&.&k!

Q*$/-!0[!CU//-.#4*2&QF!Q@+.!.+.*2&QF!Q@+.!?[$2&QF!Q@+.!0/#.&Q!#<(!Q@+.!=4#//.*2&QM!5*00&!

*$@#.?&$/-.!>==2-.!;*00-.4*2-$!&//!)*4,-.$&!)4*.!)U//.-!=[!0-$&.-![.F!?-$!,-$$&!

>==@&//$*$2!U.!3$&==&0/!$[2#/!0#?!,-4&0!&;!0&?/4*2&!3;*$$#.M^Y8!!

Q"-/!U.!?U.34*2/!&//!?&$!*$/-!4&2/!?-.!3.>/!=[!)*4,-.$&QF^YS!0U2-.!H0&)-44&!#<(!

.-0#$-?&$2-/!,-4&0!&;!@4-.&!&$,.&!*$@#.?&$/-.!U;-$!#?!$[2.&!/%<30!;&.&!?-.!

=.#;#<-.&,-!&;!;&4-/!&;!)*4,-.!U$!C>0/!H0&)-44&M!\#;&!@+.34&.&.!&//!?[$2&!&;!)*4,-.$&!0-.!

>/!&//!3#??&!@.[$!D4*=!T./!^4U//*442U$24*2&!)*4,-.!#<(!*3#$-.!0#?!@*$$0!&//!/*442[!*!

c*<.#0#@/!e@@*<-!=.#2.&?_!#<(!&//!,-!3U$$0!Q)-*2&Q!^*!,-//&!&;0--$,-!>==@&//&/!0#?!Q*$/-!

;U42C#.,&Q_#<(!(#$!/*44U22-.!&//!(#$!/*,;*0!*$/-!&440!@+.0/[.!;&,!,-!;*44!(&!>/!&;!

.-34&?)*4,-.$&M!1#$!/*44U22-.!&//!(#$!3U$$-.!&//!.-34&?)*4,-.$&!#@/&!U.!@+.!,[4*2/!2C#.,&!

@+.!&//!@+.?-,4&!$[2#/!,C>=/M^YB!!

"-//&!?-$&.!U;-$!R-.&4,*$-!0#?!@+.+;.*2/!>//.%<3-.!0*2!=[!@+4C&$,-!0U//!,[!(#$!#?)-,0!

)-03.*;&!,-/!?&/-.*&4!(#$!$%00!(&.!03[,&/k!Q"-/!0-.!>/!0#?!?&$!/&2*/!)*4,-.!>.!?#.?#.0!

@#/#&4)>?M!6%=!$U.!?&$!*$/-!(&,-!-$!,*2*/&43&?-.&!0[!&//!?&$!*$/-!0[2!;&,!,-/!;&.!@+.!

)*4,!@+..U$!-@/-.!@.&?3&44$*$2-$MQ!^YA!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Y8!H$/-.;C>-.!EYES9E78J7BES9E78!

YS!H$/-.;C>!QH0&)-44&Q!77ES9E78!

YB!H$/-.;C>!Q\#;&Q!7BES9E78!

YA!H$/-.;C>!QR-.&4,*$-Q!77ES9E78!

! !

! 97!

R-.&4,*$-!/*44U22-.!,#<3!&//!)*4,-.$&!)4*.!)U//.-!=[!0-$&.-![.F!?-$!U.!/%,4*2!?-,!&//!

=[=-3&!&//!0[!4U$2-!-$!)*4,!*$/-!/*44/&4&.!(-$$-!)4*.!,-$!0&?4&,-!)-,+?$*$2-$!3.*$2!

&$$#$0-$!$-2&/*;M^YW!!!

T//!)*4,-.$&!>==@&//&0!0#?!@>4&!/%<30!2U44&!0&?/4*2&!*$@#.?&$/-.!U;-$!#?!2.&,-$!&;!

=.#;#3&/*#$!/%<30!;&.*-.&!3;*$$#.$&!-?-44&$M!T44&!*$@#.?&$/-.!U.!&44/0[!*$/-!4*3&!3.*/*03&M!

V&/*$3&F!m#0-@*$F!f*&$<&!#<(!:.*3&!;U4C-.!&//!*!@+.)*@&./-$!-$)&./!=[=-3&!&//!)*4,-.$&!

2U.$&!(&,-!@[//!;&.&!?-.!Q2.&@*03&QF!Q0/*4.-$&Q!-44-.!Q;&<3.&QM^YY!

c-$!>==-$)&./!U.!&//!=.#)4-?&/*3-$!3.*$2!)*4,-.$&!*$/-!>/-04>/&$,-!(&$,4&.!#?!&//!,-!

>==@&//&0!0#?!@>4&!-44-.!/.[3*2&M!c[$2&!>//.%<3-.!U;-$!&//!)*4,-.$&!U.!*$/-/0U2&$,-!#<(!

&//!)*4,;&4-$!@+.0/[0!0#?!)*0&..&M!H$@#.?&$/-.$&!0/U44-.!0*2!@.[2&$,-!/*44!,-/!,-!>//.%<3-.!

0#?!).*0/!=[!0&?0=-4!?-44&$!)*4,!#<(!/-N/M!^YZa.-C&!0U2-.!)4&$,!&$$&/k!Qm&2!@&//&.!*$/-!,-!

(U.!$&/>.)*4,-.$&!.*3/*2/qQ^ZE!

e<(!a.-C&!U.!*$/-!-$0&?!#?!&//!*$/-!@+.0/[!3#==4*$2-$!?-44&$!,-!#@/&!@+.-3#??&$,-!

$&/>.)*4,-.$&!#<(!3%.3&$M^Z7!1&$$&!(&.!,#<3!-$!(%=#/-0!3.*$2!,-/!(#$!;U4C-.!&//!>//.%<3&!

0#?!Q;U4,*2/!2-$-.-44&!)*4,-.Q!,[!(#$!0U2-.k!Q"-!3&$03-!;*44!;*0&!&//!3%.3&$!U.!&44/F!

4*30#?MQ^Z9!!

:$!)*4,!0#?!#@/&!3#??-$/-.&0!0#?!@>4!#<(o-44-.!*$/-/0U2&$,-!U.!,-$!?&$!@*$$-.!=[!

&$$#$0!9E77!<M!f*4,-$!/%<30!;&.&!/&2-$!-$!0#??&.,&2!#<(!@+.-0/U44-.!-//!4*/-/!@4+/-!*!;*//!

#<(!.+//F!@4%/&$,-0!*!;&//$-/M!a+.>/#?!#.2&$*0&/*#$04#22&!0&?/!(U$;*0$*$2!/*44!'/#<3(#4?0!

0/*@/0!I-))&,.-00!@*$$-.!?&$!-$!&$$#$0/-N/!0#?!4%,-.k!QV%.3&$!/&.!*$/-!0-?-0/-.M!

a+.0&?4*$2&.$&!*$)C>,-.!/*44!?>0*3=.#2.&?F!<&@i-.F!@+.-,.&2F!;*0$*$2&.!#<(!?%<3-/!?-.!

>$,-.!0#??&.-$MQ!!

H0&)-44&F!0#?!>$,-.!*$/-.;C>$!#@/&!@$*00&.F!@+.0+3-.!?*//!*!&44/!@$*00&$,-!U$,[!@+.34&.&!;&,!

(#$!?-$&.!,[!(#$!=[0/[.!&//!/-N/!#<(!)*4,!*$/-!0&?0=-4&.k!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

YW!H$/-.;C>!QR-.&4,*$-Q!77ES9E78!

YY!H$/-.;C>-.!EYES9E78J7BES9E78!

YZ!H$/-.;C>-.!EYES9E78J7BES9E78!

ZE!H$/-.;C>!Qa.-C&Q!EZES9E78!

Z7!H$/-.;C>-.!EYES9E78J7BES9E78!

Z9!H$/-.;C>!Q1&$$&Q!77ES9E78!

! !

! 99!

Qm&2!;-/!*$/-M!c-$!C&2!;-/!*$/-!#?!C&2!@[.!,-$!3U$04&$!&;!)*4,-$QF!0U2-.!H0&)-44&!0#?!0%@/&.!

=[!/-N/-$!0#?!>==2-.!&//!3%.3&$!*$/-!/&.!0-?-0/-.M!5*,&.-!>$,.&.!(#$!;&,!&$$#$0+.-$!

;*44!0U2&k!Q"-/!3U$$0!0#?!&//!,-!;*44!0U2&k!K5*!/&.!*$/-!0-?-0/-.M!c-$!$U.!,>!U.!=[!

0-?-0/-.q!0[!@*03&.!,>`KM!1#$!@#./0U//-.k!Qe?!,-!;*44!@+.?-,4&!2-?%/4*2!0/U?$*$2r!3#?!

#<(!(U$2F!0[!@+.0/[.!C&2![/-.*2-$!*$/-!)*4,-$M!5&,!U.!,-/!-$0!@+.!$[2#$/*$2`!"-/!(&,-!

)-(+;/!;&.&!?U$$*03#.!/%=MQ^Z8!

l;-$!-$!,-4!&$,.&!*$@#.?&$/-.!/%<30!;&.&!*$$-!=[!H0&)-44&0!0=[.!#<(!-@/-.4%0-.!

)*4,&$$#$0-.!,U.!-$!?U$034*2!.-4&/*#$!/%,4*2&.-!@.&?2[.M^ZS!"U.*)4&$,!b#;&!0#?!=[=-3&.!

&//!3%.3&$!@&3/*03/!2+.!-$!(-4!,-4!0#<*&4/!&.)-/-!0#?!(#$!/%<3-.!U.!).&!#<(!;*3/*2/!#<(!

0#?!(#$!+$03&.!&//!&$$#$0-.$&!2U.$&!(&,-!@[//!@+.?-,4&M!b#;&!0U2-.!&//!&$$#$0-.$&!*!0[!

@&44!03>44-!3U$$&0!?-.!Q=[!.*3/*2/QM!1#$!@#./0U//-.k!Q"-!(&,-!;>$$*/!0[!?%<3-/!=[!&//!;*0&!

(>.!,-/!-2-$/4*2-$!U.!*!3%.3&$M!"-/!(&,-!>==@&//&/0!0#?!0[!?%<3-/!+==$&.-!#<(!U.4*2&.-M!

H0/U44-/!;-.3&.!,-!(&!;&4/!&//!(&!)*4,-.!=[!3&)4&.!-44-.!;&,!,-/!$>!U.MQ^ZB!

l;-$!#?!?[$2&!*$@#.?&$/-.!(-4/!34&./!0/U44-.!0*2!@.[2&$,-!/*44!?%<3-/!&;!?&/-.*&4-/!#<(!

0>=-.4&/*;-$!#@/&!>/-)4*.^ZA!U.!,-/!,#<3!*$2-$!0#?!)4*.!0[!=.#;#<-.&,!&;!&$$#$0-.$&!0#?!

"&$*-44&M!"&$*-44&!>//.%<3-.!)4&$,!&$$&/!&//!(#$!U.!;U4,*2/!@+.;[$&,!+;-.!&//!$[2#$!

@&3/*03/!)-/&4&/!@+.!&//!0U//&!>==!,-?!*!3#44-3/*;/.&@*3-$!#<(!;*,&.-!>/.%<3-.!(#$!-$!

@+./;*;4&$!+;-.!&//!03&//-=-$2&.!2[.!/*44!C>0/!0[,&$/!(U.M!"&$*-44&k!Q'[$/!(U.!2+.!?*2qMQ!

1#$!03&3&.!@.>0/.-.&/!=[!(>;>,-/!#<(!@#./0U//-.k!QH!-$!).&!&$$#$0!3&$!)*4,-$!/&4&!@+.!0*2!

0CU4;M!6-N/-$!03&!*$/-!)-(+;&!@+.34&.&qQ!

\U.!C&2!)-.!(-$$-!@+.0+3&!0&??&$@&//&!;&,!,-/!U.!0#?!2+.!(-$$-!0[!>==.+.,!0U2-.!(#$k!

Q">!;-/!$U.!?&$!@[.!3U$04&$!&//!?&$!0#?!)-/.&3/&.-!)4*.!4*/-!$-.;U.,-.&,MQ^ZW!

"&$*-44&!3&$!;*00-.4*2-$!&4,.*2!@.[$/&0!0*$!>==@&//$*$2F!?-$!@.[2&$!U.!#?!*$/-!

*$@#.?&$/-.$&!0/>$,/&40!3&$03-!>$,-.03&//&.!'/#<3(#4?0!0/*@/!0#?!&$$#$0+.M!"-//&!)4*.!

/%,4*2/!,[!&$$#$0!9EEW!&!0#?!)-0/[.!&;!-$!)*4,!@+.-0/U44&$,-0!-$!$%34U<3/!3%<34*$2!0&?/!

-$!/-N/!0#?!4%,-.k!Qa*.&!=[03M!b*;-/!0-2.&.sQ!3#??-$/-.&0M!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Z8!H$/-.;C>!QH0&)-44&Q!77ES9E78!

ZS!H$/-.;C>-.!EYES9E78J7BES9E78!

ZB!H$/-.;C>!Qb#;&Q!79ES9E78!

ZA!H$/-.;C>-.!EYES9E78J7BES9E78!

ZW!H$/-.;C>!Q"&$*-44&Q!EZES9E78!

! !

! 98!

T$$#$0-$!2-$-.-.&.!-$!.&,!@.[2-/-<3-$^ZY!#<(!@+4C&$,-!3#??-$/&.!&;!e42&!3&$!?%<3-/!

;U4!0&??&$@&//&!/C-C-.$&0!.-&3/*#$-.M!e42&!0U2-.k!Qm&2!@+.0/[.!*$/-!.*3/*2/M!"-/!(U.!2[.!*$/-!

(-?!&440M!m&2!@&//&.!*$/-!.*3/*2/!3#?)#$!&;!)*4,!#<(!/-N/M!Q^ZZ!

g[!&$,.&!([44!U.!,#<3!@+.;*..*$2-$!0/+..-!#<(!H0&)-44&!%//.&.!@+4C&$,-k!Qm&2!U.!C>!@+.!

&)#./.U//F!0[!C&2!)4*.!4*/-!*..*/-.&,M!VU$$0!0#?!&//!,-!;*44!;&.&!34&/<(*2&M!:44-.!C&2!;-/!*$/-!

#?!C&2!@+.0/[.!,-$`Q!^7EE!

G/&;!0&?/4*2&!*$@#.?&$/-.!U.!,-/!-$)&./!-$!*$@#.?&$/!0#?!0-.!-$!3#==4*$2!?-44&$!m-0>0!

[/-.>==0/[$,-40-F!/-N/-$!Q4*;-/!0-2.&.Q!0&?/!-$!$%<34U<3/!=[033%<34*$2M^7E7!T//!

'/#<3(#4?0!0/*@/!;&4/!-$!)*4,!=[!-$!3%<34*$2!#<(!*$/-!m-0>0!U.!^/.#/0!@+.;*..*$2-$_!3&$03-!

@+.!+;.*2/!-//!?%<3-/!0?&./!,.&2!,[!?[$2&!3;*$$#.!,U.*)4&$,!\#;&F!:.*3&!#<(!m#0-@*$!

/%,4*2/!=[=-3&.!&//!,-!*$/-!>==03&//&.!,[!)*4,-.$&!)4*.!Q@+.!3.*0/$&QM!e<(!,-//&!)4*.!U$$>!

/%,4*2&.-!,[!*$@#.?&$/-.$&!3#??-$/-.&.!&$$#$0?&/-.*&4-/0!03.*@/4*2&!=&./*M^7E9!!

"[!';-$03&!3%.3&$!-$4*2/!,-00!-2$&!0/%.,#3>?-$/!&$0-.!0*2!0CU4;!;&.&!-$!

@#433%.3&^7E8(&.!,-/!&44/0[!*$3#,&/0!*!&$$#$0-.$&!&//!0&?/4*2&!3;*$$#.!*!>$,-.0+3$*$2-$F!

=.-<*0!0#?!&44&!&$,.&F!(+.!/*44!,-$!?[42.>==!&$$#$0-.$&!(&.!@+.!&;0*3/!&//!$[M!

^5*00-.4*2-$!@*$$0!,-/!@&4&$2-.!*$#?!';3!0#?!*$/-!,-4&.!@#433%.3#/&$3-$F^7ES!?-$!,[!';30!

0/%.,#3>?-$/!-C!/&.!(U$0%$!/*44!,-//&F!>==?U.30&??&0!,-/!*$/-!(-44-.!*!,-$$&!>==0&/0_M!

c-$!>/*@.[$!.-,#2+.-40-$!#;&$!3&$!?&$!@.[2&!0*2!#?!;&4-/!&;!)*4,-.!;-.34*2-$!)*,.&.!/*44!

&//!3;*$$#.$&!3U$$-.!&//!,-!*$$-@&//&0!&;!?[42.>==-$`!!!

R-.&4,*$-0!3#==4*$2!/*44!Q?#.?#.0!@#/#&4)>?Q!/%<30!/*44!-N-?=-4!;*//$&!#?!&//!

&$$#$0-.$&!3&$03-!0$&.&.-!;U$,-.!0*2!/*44!-$!4*/-!U4,.-!=>)4*3M!e<(!;*,&.-!3&$!?&$!@.[2&!

0*2!#?!3;*$$#.$&!0#?!0[!#@/&!)-03.*;-.!)*4,-.$&!*!$-2&/*;&!#.,&4&2F!2U.$&!;*44!&00#<*-.&!

,-$!-2$&!0CU4;)*4,-$!?-,!$[2#/!,-!.-$/!-0/-/*03/!*$/-!;-.3&.!/*44/&4&0!&;`!"&$*-44&0!

>/4U22$*$2!#?!)-/.&3/&.-$!0#?!$-.;U.,-.&,!)#.,-!*!@+.4U$2$*$2-$!#<30[!*$$-)U.&!&//!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

ZY!H$/-.;C>-.!EYES9E78J7BES9E78!

ZZ!H$/-.;C>!Qe42&Q!7BES9E78!

7EE!H$/-.;C>!QH0&)-44&Q!77ES9E78!

7E7!H$/-.;C>-.!EYES9E78J7BES9E78!

7E9!H$/-.;C>-.!EYES9E78J7BES9E78!

7E8!V#??>$*3&/*#$0=4&//@#.?!';3F!ESEA99!

7ES!6(>.@C-44!9E78!

! !

! 9S!

(#$!*!/&3/!?-,!&//!(#$!*$/-!4[/-.!0*2!Q$-.;U.,-.&0Q!&;!&$$#$0+.-$F!*$/-!(-44-.!0-.!0*2!0CU4;!

0#?!-$!,-4!&;!,-$!Q>$,-.03&//&,-Q!=>)4*3-$M!!

T//!*$/-!@+.0/[!;&,!&$$#$0+.-$!2C#./!@+.!3#==4*$2!?-44&$!)*4,!#<(!/-N/F!&//!0/U44&!0*2!

@.[2&$,-!/*44!;&4-/!&;!)*4,-.!0&?/!*!H0&)-44&0!@&44!>==@&//&!&$$#$0-$!?-,!=[033%<34*$2-$!

0#?!-//!>//.%<3!@+.!-//!=.#J4*@-!0/U44$*$20/&2&$,-!^0$&.&.-!U$!-$!>==?&$*$2!/*44!&//!@*.&!

=[03_F!)#.,-!/%,&!=[!&//!&$$#$0-.$&0!;*0>-44&!=&./*!/*44!?[$2/!#<(!?%<3-/!&;3#,&/0!4[$2/!

*@.[$!&;0U$,&.-$0!*$/-$/*#$-.M!!

!

!

[1-!7F#+3=6!

6-N/?&00&$!>==@&//&0!?%<3-/!#@/&!0#?!@+.!0/#.!#<(o-44-.!@+.!*$@#.?&/*;M!"-/!@.&?2[.!

,#<3!&//!@4-.&!*$@#.?&$/-.!>==@&//&.!&$$#$0-.$&0!/-N/!0#?!)U//.-!#<(!?-.!04&23.&@/*2!=[!

0-$&.-![.F!U;-$!#?!,-$$&!>==@&//$*$2!*$/-!,-4&0!&;!&44&!3;*$$#.M^7EB!!

H!,-!@&44!/-N/-$!U.!>/@#.?&,!0#?!-$!@.[2&!*!0/*4!?-,!QV&$!?&$!/.#`QF!>==03&//&0!,-//&!&;!

)4&$,!&$,.&!e42&!0#?!@+.+;.*2/!@+.0+3-.!0U//&!@*$2.-/!=[!;&,!(#$!/%<3-.!U.!).&M!1#$!

0U2-.k!Qm>0/!&//!,-/!U.!-$!@.[2&!U.!).&M!"-/!U.!?-.!+,?C>3/!3U$$0!,-/!0#?MQ!^7EA! 5*,&.-!/%<30!@#.?>4-.*$2-$!>==@&//&0!0#?!).&!,[!,-$!>==2-0!;&.&!*$/.-00&$/!#<(!

*$)C>,&$,-!#<(!2+.!&//!&$$#$0-$!*$/-!(-44-.!3U$$0!Q@+.!3.*0/-$QM!T//!,-/!*$/-!@[.!)4*!Q@+.!

3.*0/-/Q!U.!;*3/*2/^7EW!#<(!,-/!=[=-3&.!)4&$,!&$,.&!:.*3&!0#?!0U2-.!&//!,-/!,[!)4*.!0;[./!&//!

*,-$/*@*-.&!0*2!?-,!)>,03&=-/M!!1#$!/*44U22-.k!Q\U.!,-/!)4*.!@+.!3.*0/-/!@[.!C&2!4*/-!=&$*3M!

5*00&!3U$$0!@+.!3%.34*2&!=[!$[2#/!;*0M!^JJJ_!m&2!)4*.!/*44!-N-?=-4!4*/-!03.U?,!&;!#.,-/!)+$M!

^JJJ_!\U.!?&$!0CU4;!*$/-!;>N*/!>==!3.*0/-/!)4*.!,-/!@+.!3%.34*2/!@+.!?*2!*!&44&!@&44MQ^7EY!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7EB!H$/-.;C>-.!EYES9E78J7BES9E78!

7EA!H$/-.;C>!Qe42&Q!7BES9E78!

7EW!H$/-.;C>-.!EYES9E78J7BES9E78!

7EY!H$/-.;C>!Q:.*3&Q!EZES9E78!

! !

! 9B!

5*,&.-!3&$!U;-$!$U?$&0!&//!/.#/0!&//!?[$2&!*$@#.?&$/-.!>==2-.!&//!&$$#$0-.$&!*$/-!

2U.$&!03&!*$$-([44&!?-.!/-N/!U$!-$F!?&N!/;[!?-$*$2&.F!/%<30!&$$#$0-$!Qe?/&$3-$0!

3.&@/Q!@.[$!9EEB!U$,[!>==@&//&0!0#?!?%<3-/!).&M^7EZ!a+4C&$,-!/-N/![/-.@*$$0!=[!&$$#$0-$k!!

!!!!!:$!>/0/.U<3/!(&$,!

-//!4%00$&$,-!+.&!

-$!.+0/!@+.!,-!0;&2&!

?U$$*03#.!0#?!4%@/-.!#<(!)U.!

0#?!*$/-!04U==-.!/&2-/!

>/&$!/[4?#,*2/!/&4&.!#?!(#==-/!

!

6-N/-$!/%<30!;&.&!/*44/&4&$,-!,[!,-$!&4,.*2!$U?$-.!R>,F!;*0&.!=[!-$!2-?-$03&=!0&?/!

*$$-@&//&.!$[2#$!04&20!?U$034*2!.-4&/*#$M^77E!!

a.-C&!?-$&.!&//!/-N/-$!U.!).&!-@/-.0#?!,-$!U.!)-03.*;&$,-!#<(!/*44!@+.!&44&M!1#$!/*44U22-.k!

Q6-N/?U00*2/!)U0/!?-$!)*4,-$!U.!(-4/q`Q!1#$!)-/#$&.!#.,-/!Q(-4/QF!(+C-.!=[!+2#$).%$-$!

#<(!03&3&.!@.[2&$,-!=[!(>;>,-/M⁷⁷⁷!^f*4,-$!@+.-0/U44-.!3-,C#._M!!

V&/*$3&!0#?!;*00-.4*2-$!U.!>/?U.3&$,-!*!0*$&![0*3/-.!,[!(#$!0U44&$!3#??-$/-.&.!

?&/-.*&4-/!*!$-2&/*;&!#.,&4&2F!&00#<*-.&.!&$$#$0-$!/*44!-$!)#3!(#$!4U0/M!1#$!)-.U//&.k!Qm&2!

4U0/-!-$!)#3!#?!-$!/C-C!0#?!(&,-!;&.*/!?-,!*!@4#,;[203&/&0/.#@-$!#<(!(#$!@*<3!0[!(*?4&!

?%<3-/!0/+,!#<(!(CU4=!@.[$!3%.3&$M!e<(!4*30#?!$[2#$!2[$2!3&$03-!?&$!0CU4;!)-(+;-.!

,-/qMQ⁷⁷⁹!!

T$$#$0-.$&0!/-N/=&./*!;-.3&.!*!0/+..-!?[$!U$!,-00!)*4,-.!(&!&;3#,&/0!*!-$4*2(-/!?-,!

&;0U$,&.-$0!*$/-$/*#$-.M!"-//&!U.!3&$03-!@.&?@+.&44/!/%,4*2/!,[!e42&!?-,!@4-.!>==@&//&.!

3%.3&$!0#?!-$!=4&/0!,U.!/;*;-4!=.-<*0!0#?!/.#!(+.!(-??&M!e<(!,-//&!U.!C>!=.-<*0!,-$!

+==-$(-/!'/#<3(#4?0!0/*@/!;*44!&//!,-.&0!&$$#$0-.!03&!2-$#?0%.&0!&;M⁷⁷⁸!t==-$(-/-$!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

7EZ!H$/-.;C>-.!EYES9E78J7BES9E78!

77E!H$/-.;C>-.!EYES9E78J7BES9E78!

777!H$/-.;C>!Qa.-C&Q!EZES9E78!

779!H$/-.;C>!QV&/*$3&Q!79ES9E78!

778!H$/-.;C>!'+,-.)-.2!9WE89E78!