4VSKVEQQWGL[IVTYROXI
*MKYV ;SLRYRKIR MR 1ILVJEQMPMIRLÇYWIVR REGL )VWXIPPYRKWTIVMSHI HMI MR HIR OSQQIRHIR (IOEHIR
ZSVIMRIV+IWEQXIVRIYIVYRKWXILIR5YIPPI?A (EFIM FIWXILX IMR IMKIRXPMGLIW )VRIYIVYRKWHM PIQQEHEJ²VZMIPIIVRIYIVXISHIVRIYKIFEYXI 3FNIOXI IMRI &VYXXSVIRHMXI ZSR FMW ERZMWMIVX[MVHHMIMRHIV6IKIPEFIVRYVMQ6EYQ
>²VMGL SHIV [IMXIVIR KV¸WWIVIR YRH QMXXPIVIR
>IRXVIRWS[MIMREXXVEOXMZIR8SYVMWQYW6IKMSRIR
^Y IV[MVXWGLEJXIR MWX -R HIV ²FVMKIR 7GL[IM^
O¸RRIR EYJKVYRH HIV FIWXILIRHIR [MVXWGLEJXPM GLIR 6ELQIRFIHMRKYRKIR OEYQ HMI RSX[IRHM KIR )VRIYIVYRKIR F^[ 2IYFEYXIR VIRXEFIP VIEPMWMIVX [IVHIR )W FIWXILX HMI +IJELV IMRIV IMKIRXPMGLIR :IVWPYQYRK *²V HMI )VRIYIVYRK WTMIPIR HEFIM IRIVKIXMWGLI *EOXSVIR FIWXIRJEPPW EQ6ERHIMRI6SPPI:MIP[MGLXMKIVWMRHFEYXIGL RMWGLI 4VSFPIQI [MI 7GLEPPWGLYX^ )VWEX^ ZSR 0IMXYRKIR JYROXMSREPI YRH WXVYOXYVIPPI )MRXIM PYRKHIV;SLRVÇYQIHMI6IEPMWMIVYRKZSR%YW RYX^YRKWVIWIVZIR &IM +IWEQXWERMIVYRKIR O¸R RIR MR HIV 6IKIP RYV HIV -RZIWXMXMSRIR EYJHMI1MIXTVIMWI²FIV[ÇP^X[IVHIR,IQQIRH [MVOX^YHIQHEWWHMIZSPPWXÇRHMKI0IIVYRKIMRIW 3FNIOXW^[MWGLIR1SREXIRYRH.ELVIRHEY IVROERR&IMWGLYX^[²VHMKIR+IFÇYHIROSQQX IMR )VWEX^FEY MR HIV 6IKIP RMGLX MR *VEKI %YW
¸OSPSKMWGLIV7MGLX[MVHJIWXKILEPXIRHEWWYRXIV 1MXFIV²GOWMGLXMKYRK HIV KVEYIR )RIVKMI IMR )VWEX^RIYFEY QMXXIP FMW PÇRKIVJVMWXMK :SVXIMPI
EYJ[IMWIROERR[SFIMIMRIRIVKIXMWGLIVSTXMQEP SVKERMWMIVXIV6IG]GPMRKQEVOXHEFIMIMRI[MGLXMKI 6SPPI WTMIPX /SWXIRQÇWWMK WMRH )VWEX^RIYFEYXIR EPPIVHMRKW FIM L¸LIVIQ ;IVX EYGL QMX L¸LIVIR /SWXIR ZIVFYRHIR 7S[SLP FIM +IWEQXIVRIYI VYRKIR [MI EYGL FIM )VWEX^RIYFEYXIR [MVH MQ 4VMR^MT FMPPMKIV ;SLRVEYQ ^IVWX¸VX [EW OYV^
YRH QMXXIPJVMWXMK WS^MEPTSPMXMWGLIR 7TVIRKWXSJJ FIMRLEPXIX 0ÇRKIVJVMWXMK LIFX WMGL HIV /SRJPMOX XIRHIR^MIPP EYJ HE XIYIVI ;SLRYRKIR MQQIV [MIHIVVIPEXMZK²RWXMKIV[IVHIRYRHHIR 1EVOX TVIMWK²RWXMKIV ;SLRYRKIR EPMQIRXMIVIR %YW WXÇHXIFEYPMGLIV7MGLXMWXHMIYQJEWWIRHI)VRIYI VYRK ZSR ;SLRVEYQ SHIV ZSR )VWEX^FEYXIR IV[²RWGLXHEMR+IFMIXIRQMX:IVWPYQYRKWXIR HIR^IRIMRI%YJ[IVXYRKZSVKIRSQQIR[IVHIR OERR %PW -RWXVYQIRXI J²V HMI * ¸VHIVYRK ZSR )VWEX^RIYFEYXIR WGLPEKIR HMI %YXSVIR IVL¸LXI
%FWGLVIMFYRKWQ¸KPMGLOIMXIR QMX HIV 7GLEJJYRK ZSR)VRIYIVYRKWJSRHWZSV>YHIQO¸RRXIR%YW R²X^YRKWFSRM J²V )VWEX^RIYFEYXIR JIWXKIPIKX [IVHIR ;IMXIV WSPPXIR HMI )VWGLPMIWWYRKW KIF²LVIR RYV J²V HMI /ETE^MXÇXWIV[IMXIVYRKIR YRHHMIIJJIOXMZIR1ILVEYJ[IRHYRKIRIVLSFIR [IVHIR (MI &I[MPPMKYRKWZIVJELVIR O¸RRXIR FIM JV²L^IMXMKIV TPERIVMWGLIV *IWXPIKYRK YRH 1IHME XMSRWZIVJELVIR IVPIMGLXIVX F^[ FIWGLPIYRMKX [IVHIR-RWKIWEQX WSPPXI HEW -QEKI ZSR )VWEX^
RIYFEYXIR F^[ YQJEWWIRHIR )VRIYIVYRKIR ZIVFIWWIVX[IVHIR+IRIVIPPTPÇHMIVIRHMI%YXS VIR HEJ²V RMGLX YRFIHMRKX HMI 5YERXMXÇX WSR HIVR HMI 5YEPMXÇX HIV )VWEX^RIYFEYXIR EPW ^IR XVEPI7XIYIVYRKWKV¸WWIMRW%YKI^YJEWWIR -Q4VSNIOX%O^ITXER^ZSR/SQJSVXP²JXYRKIR MQ ;SLRFIVIMGL %HLÃVIRGI HI PEÃVEXMSR HSYGIHERWPIWPSKIQIRXW?AKILXIWYQHMI
%REP]WIHIV/IRRXRMWWI^YV/SQJSVXP²JXYRKYRH HIV %O^ITXER^ FIM *EGLPIYXIR [MI EYGL FIM
;SLRYRKWIMKIRX²QIVRWS[MI1MIXIVRYRH1MI XIVMRRIR )W ^IMKX WMGL HEWW FIM HIR -RZIWXSVIR YRH %VGLMXIOXIR HMI *EOXSVIR *IYGLXMKOIMXWVI HYOXMSR /SQJSVX 0ÇVQWGLYX^ 0YJXUYEPMXÇX YRH )RIVKMIWTEVIR IX[E KPIMGL LÇYJMK KIRERRX [IV HIRW*MKYV8MXIPWIMXI)MR^MKFIMHIR%VGLMXIO XIR [IMWX HEW )RIVKMIWTEVIR IMR HIYXPMGLIW 4PYW EYJ -R IMRIQ [IMX KIVMRKIVIR %YWQEWW [IVHIR ZSRHIRKPIMGLIR+VYTTIR2EGLXIMPI[MI+IVÇY WGLI 9RXIVLEPXWMRXIRWMXÇX ^YWÇX^PMGLIV )RIVKMI ZIVFVEYGL %O^ITXER^ FIM &IRYX^IVR KIRERRX
%PW ^IRXVEPIV 2EGLXIMP ZSR /SQJSVXP²JXYRKIR [IVHIR IVL¸LXI /SWXIR LIVZSVKILSFIR :SR HIR 1MIXIVMRRIR YRH 1MIXIVR [MVH HMI KYXI 0YJXUYEPMXÇX FIM IMRIV /SQJSVXP²JXYRK ER IVWXIV 7XIPPI LIVZSVKILSFIR 1MIXIV-RRIR SLRI /SQ JSVXP²JXYRK IV[ÇLRIR Q¸KPMGLI +IVÇYWGLI EPW
RIKEXMZ HMINIRMKIR QMX /SQJSVXP²JXYRK L¸LIVI /SWXIR EPW [MGLXMKWXIV 2EGLXIMP +IVÇYWGL YRH +IVYGLWFIPÇWXMKYRKIR [IVHIR RYV MR [IRMKIR
*ÇPPIRIV[ÇLRX-RWKIWEQX^IMKXHMI7XYHMIHEWW
HMI /SQJSVXP²JXYRK WS[SLP FIM *EGLPIYXIR [MI EYGL FIM 1MIXIVMRRIR YRH 1MIXIVR r ZSV EPPIQ NIRIRQMX)VJELVYRKQMXIMRIV/SQJSVXP²JXYRKr IMRILSLI%O^ITXER^EYJ[IMWX
*MKYV)RX[MGOPYRKHIV/SWXIRZSR/SQTEOXJEWWEHIR[ÇVQIHÇQQYRKIR5YIPPI')4) -Q 4VSNIOX+VIR^OSWXIR FIM JSVGMIVXIR )RIV
KMI)JJM^MIR^QEWWRELQIR ?A OSRRXIR MQ &I VMGLXWNELV IVLIFPMGLI *SVXWGLVMXXI IV^MIPX [IVHIR )W[YVHIRHMI/SWXIRYRH2YX^IRZSR)RIVKMI -RZIWXMXMSRIR MQ &IVIMGL ;SLRKIFÇYHI MRWFI WSRHIVI ;ÇVQIWGLYX^MRZIWXMXMSRIR YRH HMI
*YROXMSR HIV ^YRILQIRHIR )RIVKMIIJJM^MIR^ J²V 2IYFEYXIR )MR YRH 1ILVJEQMPMIRLÇYWIV FI VIGLRIX %YWKILIRH ZSR HIR LIYXMKIR )RIVKMI ERJSVHIVYRKIR[YVHIRHIV1MRIVKMIWS[MIHIV 4EWWMZLEYWWXERHEVH EPW [IMXIVKILIRHI 2MZIEYW EREP]WMIVX(MI/SWXIR[YVHIRJ²VIMR^IPRI&EY XIMPI;ERH(EGL*IRWXIVHMVIOXFIM9RXIVRIL QIR IVLSFIR YRH HMI -RZIWXMXMSRIR QMXXIPW HIV
%RRYMXÇXWQIXLSHI EYJ .ELVIWOSWXIR YQKIVIGL RIX (IR +VIR^OSWXIR [YVHIR MR IMRIQ IVWXIR 7GLVMXX HMI ZIVQMIHIRIR ;ÇVQIOSWXIR YRH MR IMRIQ [IMXIVIR 7GLVMXX >YWEX^RYX^IR 'S
&IRIJMXW KIKIR²FIVKIWXIPPX &IM PIX^XIVIR ^IMKX WMGL^YV>IMXRSGLIMRIVIGLXKVSWWI9RWMGLIVLIMX 2IFIR HIR KIKIR[ÇVXMKIR /SWXIR OSRRXIR IFIRJEPPW 7GLÇX^YRKIR J²V HMI ^YO²RJXMKI )RX [MGOPYRK YRXIV )MRWGLPYWW ZSR 0IVR YRH 7OE PIRIJJIOXIRZSVKIRSQQIR[IVHIR(MI%YXSVIR LEPXIR JIWX HEWW HEW ^Y IVWGLPMIWWIRHI )RIV KMIIJJM^MIR^TSXIR^MEP ZSR ;ÇVQIWGLYX^QEWW RELQIR ER +IFÇYHIR KVSWW WIM WS[SLP FIM )VRIYIVYRKIR [MI EYGL FIM 2IYFEYXIR (MIWIW 4SXIR^MEP [²VHI ^Y IMRIQ KVSWWIR 8IMP MQ &I VIMGL HIV ;MVXWGLEJXPMGLOIMX PMIKIR HMIW YQWS QILV [IRR Q¸KPMGLI 6MWMOIR HIV )RIVKMITVIMW WXIMKIVYRKIR HIV >YWEX^RYX^IR F^[ HMI ZIV QMIHIRIR I\XIVRIR /SWXIR WS[MI KIWEQX [MVXWGLEJXPMGLI &IWGLÇJXMKYRKWIJJIOXI QMXIMRFI
^SKIR[²VHIRZKP*MKYV
(EW 4VSNIOX )VLIFYRK HIW )VRIYIVYRKWZIV LEPXIRWFIM;SLRKIFÇYHIR?A[MPPHMI)QTM VMI MR HMIWIQ 7IOXSV HIYXPMGL ZIVFIWWIVR 7S OSRRXIRHMIOERXSREPIR+IFÇYHIZIVWMGLIVYRKIR F^[HMIOERXSREPIR )RIVKMIJEGLWXIPPIR >, &)
%+ &0 &7 YRH 8+ KI[SRRIR [IVHIR IMRI FVIMX ERKIPIKXI 9QJVEKI FIM +IFÇYHIIMKIR X²QIVR^YWXEVXIR(MIFMWLIVMKI%YW[IVXYRKHIW 4VIXIWXW J²V HIR /ERXSR &EWIPPERH ^IMKX HEWW IMRILSLI6²GOPEYJUYSXIZSR²FIVIVVIMGLX [IVHIR OERR -R TVEOXMWGL EPPIR &IVIMGLIR HIV +IFÇYHIL²PPI YRH FIM HIR ,IM^ERPEKIR WMRH MR HIRPIX^XIR.ELVIRFIMHIV,ÇPJXIFMWFIM RELI ^[IM (VMXXIPR -RWXERHWIX^YRKIR YRH )V RIYIVYRKIRVIEPMWMIVX[SVHIR(IV%RXIMPIRIVKI XMWGLIV)VRIYIVYRKIR[EVHEFIMFIMHIR*IRWXIVR YRH EYGL MQ (EGLFIVIMGL [IWIRXPMGL L¸LIV EPW MQ;ERHYRH*EWWEHIRFIVIMGL[SFIMEYGLFIM HIRPIX^XIVIRIRIVKIXMWGLI)VRIYIVYRKIRFIM ZSVKIRSQQIR[YVHIR
(EW 4VSNIOX8IGLRSPSKMI1SRMXSVMRK ?A WSPP J²VEYWKI[ÇLPXI8IGLRSPSKMIR(EXIRVIMLIR²FIV HMI )RX[MGOPYRK HIV )RIVKMI+IWXILYRKWOSWXIR IVEVFIMXIR >YHIQ [IVHIR HMI +V²RHI J²V HMI NI[IMPMKI /SWXIRIRX[MGOPYRK [MI EYGL HMI 1EVOXTIRIXVEXMSR YRXIVWYGLX )W [MVH IMR W]WXI QEXMWGLIW 8IGLRSPSKMI1SRMXSVMRK QMX &IR GLQEVOMRKERKIWXVIFXHEW+VYRHPEKIRJ²VWXVE XIKMWGLI )RXWGLIMHI QMX IMRIQ Q¸KPMGLWX STXM QEPIR1MXXIPIMRWEX^FIVIMXWXIPPIRWSPP
(EW4VSNIOX',)RX[MGOPYRK;//?A[MPPHMI FMWLIVMKI YRH ^YO²RJXMKI ;//8IGLRSPSKMI EREP]WMIVIR :SVPMIKIRHI ;//4SXIRXMEPWXYHMIR WSPPIR OVMXMWGL EREP]WMIVX [IVHIR YRH EYJKVYRH
RIYIV 6ELQIRFIHMRKYRKIR YRH XIGLRSPSKM WGLIR *SVXWGLVMXXIR ZSV EPPIQ FIM OPIMRIVIR
;//%RPEKIR1MOVSXYVFMRIR&VIRRWXSJJ^IPPIR WMRH HMI 4SXIR^MEPI RIY ^Y FIYVXIMPIR (MI ^Y O²RJXMK[MVXWGLEJXPMGLIMRXIVIWWERXIR1EVOXFIVIM GLIWMRH^Y MHIRXMJM^MIVIRYRH ^Y UYERXMJM^MIVIR :IVFPIMFIRHI 6IEPMWMIVYRKWLIQQRMWWI WSPPIR YRXIVWYGLX [IVHIR (MI FMWLIVMKIR %VFIMXIR
^IMKIRHEWWHEROHIVRIYZIVJ²KFEVIR8IGLRS PSKMIR HEW 4SXIRXMEP J²V ;//%RPEKIR HIYXPMGL KIWXMIKIR MWX *²V IMR^IPRI 1EVOXWIKQIRXI YRH +V¸WWIROPEWWIR[MVHHIV%YWWGL¸TJYRKWKVEHEPW IVWXEYRPMGL LSGL FI^IMGLRIX /PEWWI J²V O;IP)W^IMKXIWMGLHEWWMRHIRPIX^XIR.EL VIR HMI WTI^MJMWGLIR -RZIWXMXMSRWOSWXIR HIYXPMGL VIHY^MIVXYRHHMI7XVSQOIRR^ELPIVL¸LX[IVHIR OSRRXI [EW ^Y IMRIV :IVVMRKIVVYRK HIV VIEPIR 7XVSQKIWXILYRKWOSWXIR J²LVXI YRH HMI 1EVOXGLERGIRZIVFIWWIVXI
(EW 4VSNIOX1EVKMREPI >ELPYRKWFIVIMXWGLEJX J²VIMRIIVL¸LXI-RXIVREPMWMIVYRKHIW6MWMOSW ZSR /IVROVEJX[IVOIR ?A ZIVWYGLX IVWXQEPW HMI 6MWMOSTVÇJIVIR^IR HIV &IZ¸POIVYRK FIMQ
&IXVMIFZSR/IVROVEJX[IVOIR^YIVQMXXIPR-R^[M WGLIRWMRH-RXIVZMI[WHYVGLKIJ²LVX[SVHIR (MI%YW[IVXYRKMWXEYJ1MXXI^YIV[EVXIR
&IM HIR 7GLÇX^YRKIR [YVHIR ERWTVYGLWZSPPI
%RJSVHIVYRKIR ER HMI &IJVEKXIR KIWXIPPX HMI 6MWMOSRIMKYRK KIKIR²FIV 6MWMOIR QMX OPIMRIR
;ELVWGLIMRPMGLOIMXIR YRH KVSWWIR %YW[MVOYR KIRFIYVXIMPIRWSPPXIR
1%772%,1)2
1MXHIQ4VSNIOX)\TSVXJ¸VHIVYRKMQ)RIVKMI FIVIMGL?AWMRHIVWXQEPWHMI)\TSVXZSPYQIRJ²V IRIVKMIIJJM^MIRXI 4VSHYOXI YRH 2YX^YRKWXIGLRM OIRIVRIYIVFEVIV)RIVKMIRKIWGLÇX^X[SVHIR)W
^IMKXWMGLHEFIMHEWWIMR:SPYQIRMQ;IVX ZSRVYRH1MSI\TSVXMIVX[SVHIRMWXHEWFMW EYJ 1MS ',* ERKIWXMIKIR MWX (EFIM RILQIRHMI)JJM^MIR^K²XIVQMXKYX1MS',*
IMRIR ^ILRQEP L¸LIVIR 7XIPPIR[IVX IMR EPW NIRI J²V IVRIYIVFEVI )RIVKMIR VYRH 1MS ',*
4VSHYOXFIKPIMXIRHI (MIRWXPIMWXYRKIR 4PERYRK
&EYFIXVIYYRK -RFIXVMIFRELQI *MRER^MIVYRK -RWXERHLEPXYRK YRH &IXVMIF J²V VYRH 1MS ',* OSQQIR LMR^Y *²V [IMXIVI OSRWXVYOXMZI /SQTSRIRXIR [MI FIM IRIVKMIIJJM^MIRXIR %RPE KIR SHIV *ELV^IYKIR OSRRXIR OIMRI %YJ[IR HYRKIR KIWGLÇX^X [IVHIR )W MWX ^Y ZIVQYXIR HEWWHEQMXRSGLQEPWIMR:SPYQIRZSRQILVIVIR 1MPPMEVHIR *VEROIR LMR^YOSQQIR [²VHI (MI 7GL[IM^[IMWXMQ)\TSVXMQ&IVIMGL)RIVKMIXIGL RSPSKMIR FIM IRIVKMIVIPIZERXIR 1IWWKIVÇXIR
LSGLIJJM^MIRXIR )PIOXVSQSXSVIR 8IMPIR ZSR
&VIRRIVR+EWWS[MI;EWWIVXYVFMRIRIMRILSLI 7TI^MEPMWMIVYRKYRHHEQMXEYGLIMRIKYXI;IXX FI[IVFWTSWMXMSR EYJ 9RXIVHYVGLWGLRMXXPMGL WMRH HMI;IXXFI[IVFWTSWMXMSRIRYEFIM)V^IYKRMWWIR
^YQ ;ÇVQIXEYWGL ^YV ;ÇVQIMWSPEXMSR YRH
;ÇVQIIV^IYKYRKWS[MIFIM)PIOXVSQSXSVIR(IV KV¸WWXI8IMPHIV)\TSVXIKILXMRHMIFIREGLFEVXIR [IWXIYVSTÇMWGLIR0ÇRHIV(MI7GL[IM^IV)\TSVXI O¸RRXIR WMGL FMW MRW .ELV EYJ FMW 1ME )YVS ZIVHSTTIPR SHIV KEV ZIVHVIMJEGLIR (MI ;EGLWXYQWVEXIR LÇRKIR IRXWGLIMHIRH ZSR HIV)RIVKMITVIMWIRX[MGOPYRKYRHHIV/PMQETSPMXMO EF)MRIOPEVI(SQMRER^MWXHEFIMFIM HIV )RIV KMIIJJM^MIR^ ^Y IV[EVXIR )RXWGLIMHIRHI ;IXX FI[IVFWJEOXSVIRWMRHHIV4VIMWWS[MIHMIKIWEQ XI4VSHYOXIUYEPMXÇX:SRFIMRELIIFIRWSKVSWWIV
&IHIYXYRK WMRH FIKPIMXIRHI (MIRWXPIMWXYRKIR [MI;EVXYRK YRH -RWXERHLEPXYRK WS[MI HMI >Y WEQQIREVFIMXQMX:IVXVMIFWTEVXRIVR%PW,IQQ RMWWIFIWXILIRRIFIRHIV;ÇLVYRKWYRH0SLR TSPMXMO MQ -RPERH ZSV EPPIQ HMI XIGLRMWGLIR ,IQQRMWWIYRHHMINI[IMPMKIRKIWIX^PMGLIR:SV WGLVMJXIR ;MGLXMK MWX EYGL IMRI KYXI /IRRXRMW HIV PSOEPIR YRH VIKMSREPIR 1ÇVOXI &IM ZMIPIR /19WWMRHHMI/IRRXRMWWI²FIVHMIZSVLERHIRIR WXEEXPMGLIR )\TSVXJ¸VHIVYRKWMRWXVYQIRXI KIVMRK 2YV [IRMKI LEFIR WSPGLI -RWXVYQIRXI FIRYX^X YRHOSROVIXI9RXIVWX²X^YRKFIERXVEKX:MIPJEGL [MVHHMIWIW4VS^IHIVIEPW^YOSQTPM^MIVXFI^IMGL RIXYRHIW[²VHI^Y[IRMKEYJHMIWTI^MJMWGLIR
&IH²VJRMWWI IMRKILIR 1MX HIQ RIYIR )\TSVX J¸VHIVYRKWKIWIX^ MWX ^Y IV[EVXIR HEWW HMI 0IM WXYRKIRMR>YOYRJX^MIPKIVMGLXIXIVIVFVEGLX[IV HIR (MI /19W WMRH ZSV EPPIQ ER HIV &IWGLEJ JYRKZSR1EVOXMRJSVQEXMSRIRYRHHIV)VWXFIVE XYRKHYVGL)\TSVXJ¸VHIVIVMRXIVIWWMIVX>YHIQMWX IMRI9RXIVWX²X^YRKMQ &IVIMGL HIV 4VSNIOXJMRER
^MIVYRK&IVEXYRK>YWGL²WWIWS[MIIMRI9RXIV WX²X^YRKFIM*VEKIR^YXIGLRMWGLIR2SVQIRYRH 7XERHEVHWIV[²RWGLX(MI0IMWXYRKIRWSPPXIRQMX IMRIV %RWTVIGLTIVWSR /I]EGGSYRXIVW IVFVEGLX [IVHIR )FIRJEPPW [MVH IMRI 9RXIVWX²X^YRK MQ 6ELQIR ZSR *EGLQIWWIR YRH /SRJIVIR^IR WS [MIHEW0SFF]MRKEYJL¸GLWXIVTSPMXMWGLIV)FIRI IV[EVXIX 1MX IMRIV IVJSPKVIMGLIR )\TSVXJ¸VHI VYRK H²VJXI HMI 4SWMXMSR ZSR )JJM^MIR^XIGLRS PSKMIREFIVEYGLZSRIVRIYIVFEVIR8IGLRSPSKMIR [IWIRXPMGLZIVFIWWIVX[IVHIR/SWXIRWIROYRKIR MRJSPKIZSR0ÇVQYRH7OEPIRIJJIOXIR(EW&*) FIVIMXIX r KIWX²X^X EYJ HMIWI 7XYHMI r IMR /SR
^ITX^YV)\TSVXJ¸VHIVYRKZSV
(EW4VSNIOX8IGLRSPSKMIZIVQMXXPYRKMQ)RIV KMIFIVIMGL 8):) /ERXSR &IVR ?A LEX HMI IRXWTVIGLIRHIR &IQ²LYRKIR IZEPYMIVX HMI WIMX
.ELVIRPEYJIR)W[YVHIRHEFIMVYRHOER XSREPI YRH EYWWIVOERXSREPI /SRXEOXI JIWXKI WXIPPX HMIW FIM IMRIQ 4SXIRXMEP ZSR VYRH ERWÇWWMKIR*MVQIRMQ)RIVKMIFIVIMGL MQ/ERXSR
&IVR:SRHIRFIJVEKXIR9RXIVRILQIR[MVHHMI 8):) MQ /ERXSR &IVR EPW R²X^PMGLIW -RWXVYQIRX FIYVXIMPX:SVEPPIQHIV%WTIOXHIV2IX^[IVOFMP HYRK [MVH TSWMXMZ KI[IVXIX ,MRKIKIR OSRRXIR OIMRIHMVIOXIROEYWEPIR;MVOYRKIRHIV8ÇXMKOIM XIR HIV 8):) EYJ HMI 7GLEJJYRK ZSR %VFIMXW TPÇX^IRREGLKI[MIWIR[IVHIR )MR KYXIW (VMXXIP HIV FIJVEKXIR *MVQIR FIWXÇXMKX NIHSGL HEWW MLV /SRXEOX ^YV 8):)7XIPPI [IWIRXPMGL HE^Y FIMKI XVEKIRLEFIHEWWRIYI4VSHYOXI^YV7XIMKIVYRK HIV )RIVKMIIJJM^MIR^ F^[ ^YV *¸VHIVYRK HIV 2YX^YRKIVRIYIVFEVIV)RIVKMIRVIEPMWMIVX[IVHIR OSRRXI(MIIV^MIPXIRHMVIOXIR;MVOYRKIROSRR XIR EFIV EYGL MR HMIWIQ &IVIMGL RMGLX UYER XMJM^MIVX[IVHIR(MI8IGLRSPSKMIZIVQMXXPYRK[MI WMIMQ/ERXSR&IVRTVEOXM^MIVXYRHZSQ&*)QMX YRXIVWX²X^X [MVH IV^IYKX MQ ;IWIRXPMGLIR MRHM VIOXITSWMXMZI;MVOYRKIR(MI)ZEPYEXSVIRIQT JILPIRHEWWHMI%OXMZMXÇXIRHIV8):)RSGLWXÇV OIVEYJFIWXMQQXI%HVIWWEXIRYRH2YX^IVOVIMWI WS[MI EYJ ^Y FIEVFIMXIRHI 7GLP²WWIPXLIQIR JSOYWWMIVX [IVHIR (EW %RKIFSXW YRH /SQTI XIR^TVSJMP O¸RRXI HEQMX RSGL HIYXPMGLIV ^YQ
%YWHVYGOKIFVEGLX[IVHIR
-Q 4VSNIOX)RIVKMIIJJM^MIR^ FIM )PIOXVSKIVÇ XIR r ;MVOYRK HIV -RWXVYQIRXI YRH 1EWW RELQIR?A[MVHJIWXKILEPXIRHEWW)PIOXVSKI VÇXI VYRH HIW IPIOXVMWGLIR )RIVKMI ZIVFVEYGLW EYWQEGLIR (IV )PIOXVSKIVÇXIQEVOX IV^MIPX MR HIV 7GL[IM^ IMRIR NÇLVPMGLIR 9QWEX^
ZSR GE 1ME ',* YRH IMRI ;IVXWGL¸TJYRK ZSR GE (EFIM LERHIPX IW WMGL YQ IMRIR WXEVO I\TERHMIVIRHIR 1EVOX QMX IMRIQ EYXSRS QIRXIGLRMWGLIR*SVXWGLVMXX(MI)RIVKMIIJJM^MIR
^IRX[MGOPYRK HIV )PIOXVSKIVÇXI [MVH ZSR 7IMXI HIV -RHYWXVMI KIQÇWW HIR 7XYHMIREYJXVEKRIL QIVR EPW ILIV WIOYRHÇV FIXVEGLXIX XIMP[IMWI WSKEV HYVGL KIKIRPÇYJMKI )RX[MGOPYRKIR KI WX¸VX )W Q²WWXIR ^YWÇX^PMGLI %RWXVIRKYRKIR YRXIVRSQQIR [IVHIR YQ ZSVLERHIRI IRIV KMIIJJM^MIRXI +IVÇXI EYW MLVIQ 7GLEXXIR F^[
2MWGLIRHEWIMRLIVEYW^YLSPIR)WJILPIER/SQ TIXIR^IRJ²VWIVMIRQÇWWMKLIVKIWXIPPXIIJJM^MIRXI IPIOXVMWGLI +IVÇXI (MI )RX[MGOPYRKIR [²VHIR WS[SLPOSRXMRYMIVPMGL[MIWTVYRKLEJXZSRWXEXXIR KILIR>IRXVEP[ÇVIEFIV[IRMKIVHMI8IGLRSPS KMIIRX[MGOPYRK EPW ZMIPQILV HMI 1EVOXHMJJYWMSR ZSRMQ4VMR^MTZSVLERHIRIRIJJM^MIRXIR+IVÇXIR (EFIM O¸RRXI RMGLX EPPIMRI EYJ JVIM[MPPMKI 1EWW RELQIRKIWIX^X[IVHIRZMIPQILVQ²WWXIRIMRI /IRR^IMGLRYRK WS[MI IMRI ;EVIRHIOPEVEXMSR
YRHMRIMRIVWTÇXIVIR4LEWI>YPEWWYRKWZSVWGLVMJ XIR J²V +IVÇXI WGLPIGLXIV 5YEPMXÇX IMRKIJ²LVX [IVHIR 1EWWRELQIR Q²WWXIR WS[SLP FIMQ TSMRXSJWEPIWREXMSREPIYRHMRXIVREXMSREPI,IV WXIPPIV WS[MI :IVOEYJWSVKERMWEXMSRIR [MI EYGL FIMQ TSMRX SJ TYVGLEWI TST HEW LIMWWX RMGLX SVKERMWMIVXI /ÇYJIVWGLEJX WS[MI FIMQ *EGL +VSWWZIVXIMPIVYRH(IXEMPLERHIPERWIX^IR -Q 4VSNIOX;MVOYRKWEREP]WI OERXSREPIV *¸V HIVTVSKVEQQI MQ 6ELQIR %VX )R+ ?A [MVH IMR 1SRMXSVMRK YRH )ZEPYEXMSRWW]WXIQ J²V HMI+PSFEPFIMXVÇKIJ²V*¸VHIVQEWWRELQIR7YF ZIRXMSRIR YRH MRHMVIOXI 1EWWRELQIR EYJKI FEYX [IPGLI HMI /ERXSRI ZSQ &YRH IVLEPXIR [IRRWMI²FIVIMRIMKIRIWOERXSREPIW*¸VHIVTVS KVEQQZIVJ²KIR(MI&IMXVÇKIHIW&YRHIWWSPPIR WMGLHEFIMREGLHIV,¸LIHIWOERXSREPIR/VIHM XIW WS[MI HIV ;MVOWEQOIMX HIW OERXSREPIR *¸V HIVTVSKVEQQW EYWVMGLXIR (MI /ERXSRI WMRH ZIVTJPMGLXIX HIQ &YRHIWEQX J²V )RIVKMI ²FIV HMI ;MVOWEQOIMX YRH HMI %YW[MVOYRKIR HIW HYVGLKIJ²LVXIR 4VSKVEQQW WS[MI HMI :IV[IR HYRK HIV ^YV :IVJ²KYRK KIWXIPPXIR JMRER^MIPPIR 1MXXIPNÇLVPMGL^YFIVMGLXIR -R^[MWGLIR WMRH HMI OSR^ITXMSRIPPIR +VYRHPEKIR J²V HMI ;MVOYRKW EREP]WIRHIV/ERXSRIIVWXIPPXYRHMREYWKI[ÇLP XIR/ERXSRIRWMRHTMPSXQÇWWMKIVWXI%R[IRHYR KIRMR&IXVMIFKIRSQQIR[SVHIR
(EW4VSNIOX:SPP^YK7-%2SVQIR+IFÇYHI?A MWXRIYKIWXEVXIX[SVHIR)WWSPPIRYRXIVWGLMIHPM GLI OERXSREPI :SPP^YKWJSVQIR YRXIVWYGLX YRH :SPP^YKWHIJM^MXIEREP]WMIVX[IVHIR)WFIWXILXHMI )V[EVXYRKHEWWPIMWXYRKWJÇLMKI:SVWGLPÇKI^&
7XÇVOYRK HIW ,EJXYRKWVIGLXW KIQEGLX [IVHIR O¸RRIR
-Q 4VSNIOX 1EVOXTSXIRXMEPI YRH 1EVOXLMR HIVRMWWIJ²VHMIXLIVQMWGLI7SPEVIRIVKMI?A WSPPIZEPYMIVX [IVHIR [IWLEPF IW HIV 7SPEVXLIV QMO FMWLIV RMGLX KIPYRKIR MWX ²FIV IMR OPIMRIW 4MSRMIVWIKQIRX LMREYW^YOSQQIR )W WSPPIR 'LERGIR YRH 1¸KPMGLOIMXIR J²V IMRI 1EVOXEYW [IMXYRKYRH7]RIVKMIRQMXHIV1MRIVKMIWXVEXIKMI HIV/ERXSRIEYJKI^IMKX[IVHIR
1MX HIV 7XYHMI 9Q[IPXQEREKIQIRX r -73 2SVQ r )MRFI^YK )RIVKMIIJJM^M IR^ ?A WSPP YRXIVWYGLX [IVHIR [MI HIV )RIV KMIIJJM^MIR^ MQ 6ELQIR ZSR 9Q[IPXQEREKI QIRXW]WXIQIR 917 IMRI KV¸WWIVI &IEGLXYRK ZIVWGLEJJX [IVHIR OERR )W [IVHIR ,IQQRMWWI YRH ZSV EPPIQ )VJSPKWJEOXSVIR LIVEYWKIEVFIMXIX YRH KIIMKRIXI 1EWWRELQIR J²V IMRIR ZIVWXÇVO XIR )MRFI^YK HIV )RIVKMIIJJM^MIR^ MQ 6ELQIR ZSR917IZEPYMIVX&I[YWWX[MVHHEFIMEYGLHIV
:IVOILVWFIVIMGL IMRFI^SKIR 2IFIR /19 YRH +VSWWYRXIVRILQIR[IVHIREYGL>IVXMJM^MIVYRKW JMVQIR9Q[IPXYRH)RIVKMIFIVEXYRKWYRXIVRIL QIR HMI ¸JJIRXPMGLI ,ERH *SVWGLYRKWMRWXMXYXI WS[MI 9RXIVRILQIRWZIVFÇRHI FIV²GOWMGLXMKX 2IFIR&IXVMIFIRHMIFIVIMXW²FIV9Q[IPXQERE KIQIRXW]WXIQI ZIVJ²KIR WSPPIR EYGL NIRI FI EGLXIX[IVHIRHMIRSGLRMGLXIMRKIWXMIKIRWMRH -28)6()4)2()2>)2
-Q4VSNIOX2EGLLEPXMKOIMX/VMXIVMIRYRH-RHM OEXSVIR J²V HIR )RIVKMIFIVIMGL ?A ^IMKX WMGL HEWW HIV )RIVKMIFIVIMGL [IKIR WIMRIV &I HIYXYRK J²V HMI ;MVXWGLEJXPMGLOIMX YRH )RX[MGO PYRK IMRI ^IRXVEPI 7XIPPYRK MQ 2EGLLEPXMKOIMXW OSR^ITX IMRRMQQX (EFIM OIRR^IMGLRIX IMR OSQTPI\IW;IGLWIPWTMIPZSR 9VWEGLIRYRH ;MV OYRKIRHIR)RIVKMIFIVIMGL)W[IVHIRHMI[MGL XMKWXIR MR YRH EYWPÇRHMWGLIR 7]WXIQI ZSR 2EGLLEPXMKOIMXW F^[ )RIVKMIMRHMOEXSVIR ZSVKI WXIPPX YRH EREP]WMIVX (MI &IEVFIMXIV WGLPEKIR EYJKVYRH HMIWIV &EWMW YRH [IMXIVKILIRHIR ÍFIVPIKYRKIR IMR >MIPW]WXIQ QMX /VMXIVMIR YRH-RHMOEXSVIRZSVJ²VHMI&IVIMGLI9Q[IPX
;MVXWGLEJX YRH +IWIPPWGLEJX (EFIM [IVHIR ZMIV 8]TIRZSR-RHMOEXSVIRYRXIVWGLMIHIR;MVOYRKW
%OXMZMXÇXW)RIVKMIIJJM^MIR^WS[MI4SPMXMOMRHMOE XSVIR(EW7]WXIQ[²VHIWMGLMRIVWXIV0MRMIJ²V IMRI REXMSREPI &IWXERHIWEYJRELQI YRH HMI )V WXIPPYRKZSR>IMXVIMLIRIMKRIR -R >YWEQQIREV FIMXQMXHIQ&YRHIWEQXJ²V)RIVKMI[YVHIHIV )VLIFYRKWEYJ[ERH J²V IMR^IPRI -RHMOEXSVIR KIWGLÇX^X-RIMRIQRÇGLWXIR7GLVMXXQ²WWXIRYR IMRITSPMXMWGLI*IWXPIKYRK HIV -RHMOEXSVIR IVJSP KIR YRH HMI >MIP[IVXI WS[MI EKKVIKMIVXI +I WEQXFI[IVXYRKIRO¸RRXIRIMRKIPIMXIX[IVHIR (EW 4VSNIOX 'SRGITXMSR HYRI TVSGÃHYVI HEMHIÆPEHÃGMWMSRIRQEXMÀVIHITSPMXMUYI ÃRIVKÃXMUYI FEWÃI WYV HIW GVMXÀVIW IX HIW MRHMGEXIYVW HI HÃZIPSTTIQIRX HYVEFPI?A KVIMJXHVIM%REP]WIMRWXVYQIRXIEYJYQHIR*SVX WGLVMXX HIV 2EGLLEPXMKOIMX ^Y IZEPYMIVIR F^[
ZIVWGLMIHIRI 2EGLLEPXMKOIMXWOVMXIVMIR EYJ IMRIQ L¸LIVIR %KKVIKEXWRMZIEY ^YWEQQIR^YJEWWIR (MI FIMHIR 1IXLSHIR ()% (EXE )RZIPSTQIRX
%REP]WMW YRH Þ0)'86) ÞPMQMREXMSR )X 'LSM\
8VEHYMWERX PE 6ÃEPMXÃ IVPEYFX HMI /PEWWMJM^MIVYRK IMRIV KVSWWIR %R^ELP ZSR 2EGLLEPXMKOIMXWMRHM OEXSVIR (MI HVMXXI 1IXLSHI KI[ÇLVPIMWXIX HMI
%KKVIKEXMSR ZSR 2EGLLEPXMKOIMXWMRHMOEXSVIR MRHIQ^YIVWXLSQSKIRI+VYTTIRKIFMPHIX[IV HIR(MIOSROVIXIR8IWXWHIV1IXLSHIR[IVHIR QMX MRXIVREXMSREPIR (EXIR HYVGLKIJ²LVX (EFIM
WMRH RYV FIWGLVÇROX IJJIOXMZ FVEYGLFEVI 2EGL LEPXMKOIMXWMRHMOEXSVIRZSVLERHIR
1%6/836(292+)2
(MI 7XYHMI /IRR^IMGLRYRK HIV )PIOXM^MXÇX KIQÇWW %VXMOIP )1+ ?A ^IMKX [IPGLI
%RJSVHIVYRKIR J²V HMI %YWKIWXEPXYRK IMRIV /IRR^IMGLRYRK IVJ²PPX [IVHIR Q²WWIR (MI ,IVOYRJX QYWW IMR[ERHJVIM REGLKI[MIWIR [IV HIRO¸RRIR(EW:IVJELVIRQYWWHIQLSLIR
%RXIMP HIW KVIR^²FIVWGLVIMXIRHIR 7XVSQJPYWWIW KIVIGLX [IVHIR YRH FIV²GOWMGLXMKIR HEWW HMI /IRR^IMGLRYRKMRHIV7GL[IM^EYGLYREFLÇRKMK ZSRHIV)9VIEPMWMIVFEVFPIMFX(IV:SPP^YKWSPP Q¸KPMGLWX IMRJEGL WIMR &MWLIV WMRH IVWX MR ZIV WGLMIHIRIR &YRHIWWXEEXIR HIV 97% YQJERKVIM GLI /IRR^IMGLRYRKWWXERHEVHW IMRKIJ²LVX [SV HIR(MI/IRR^IMGLRYRK[MVHHSVXEPWMRXIKVEPIV
&IWXERHXIMP IMRIW PMFIVEPMWMIVXIR )PIOXVM^MXÇXW QEVOXWFIXVEGLXIX
-RHIV7XYHMI+VYRHWÇX^IJ²V2IX^FIRYX^YRK WXEVMJI?A[IVHIRHMIZIVWGLMIHIRIR%RJSVHI VYRKIR 8VERWTEVIR^ )MRJEGLLIMX :IVYVWEGLIV KIVIGLXMKOIMXYW[HMWOYXMIVXHMIERHMI7XVYOXYV RMGLX ER HMI NI[IMPMKI ,¸LI HIV (YVGLPIM XYRKWZIVK²XYRKKIWXIPPX[IVHIR;IMXIV[IVHIR HMI XLISVIXMWGLIR +VYRHPEKIR EYWPÇRHMWGLI )VJELVYRKIRWS[MI0¸WYRKWQ¸KPMGLOIMXIREYJKI
^IMKXYRHQMXHIRZSVPMIKIRHIR:SVWGLPÇKIRHIW :7) ZIVKPMGLIR (MI )QTJILPYRKIR J²V HMI %YW KIWXEPXYRK HIV 2IX^TVIMWWXVYOXYVIR [IVHIR MR
%FLÇRKMKOIMX HIV >MIPWIX^YRKIR JSVQYPMIVX [S FIM)JJM^MIR^F^[)RIVKMIWTEV^MIPI MRIMRIQ KI [MWWIROSROYVVIR^MIVIRHIR:IVLÇPXRMWWXILIR -R HIV 7XYHMI (EXE6SSQ 4MPSXTVSNIOX ?A [YVHI MR )VKÇR^YRK ^YQ 4VSNIOX4MPSX &IRGL QEVOMRK 2IX^I IMRI ;IF FEWMIVXI )7IVZMGI 0¸WYRKHYVGLKIWTMIPXYRHJ²V7GL[IM^IV)PIO XVM^MXÇXWYRXIVRILQIR MQTPIQIRXMIVX (MI KIWIX^
XIR >MIPI [MI )JJM^MIR^ HIW -RJS,ERHPMRKW 7M GLIVLIMX HIV ÍFIVQMXXPYRK %RSR]QMWMIVYRK HIV -RJSVQEXMSR KIKIR²FIV (VMXXTIVWSRIR YRH ,ERHPYRKWJVIMLIMX HIV VIKSPEXSVMWGLIR &IL¸VHIR OSRRXIRIVJ²PPX[IVHIR
(MI7XYHMI6IKYPMIVYRK HIV :IVXIMPRIX^TVIMWI
^Y &IKMRR HIV 1EVOX¸JJRYRK ?A EREP]WMIVX HEW:SVKILIRZSR2SV[IKIRYRH7GL[IHIR^Y
&IKMRR HIV 1EVOX¸JJRYRK J²V IMRI OSWXIRSVMIR XMIVXI 6IKYPMIVYRK HIV 2IX^TVIMWI -R 2SV[IKIR LEFIR HMI ^Y KIVMRKIR )JJM^MIR^WXIMKIVYRKIR HE^Y FIMKIXVEKIR HEWW IMRI ERVIM^SVMIRXMIVXI 6IKYPMIVYRK)VP¸WSFIVKVIR^IQMX&IRGLQEVOMRK IMRKIJ²LVX[YVHI-R7GL[IHIR[MVHEQOSWXIR
SVMIRXMIVXIR /SR^ITX QMX I\TSWX1SRMXSVMRK JIWXKILEPXIR [SFIM HMI 6IKYPMIVYRKWFIL¸VHI 4VIMWWIROYRKIRZSR HIR2IX^FIXVIMFIVRJSVHIVX -RFIMHIR0ÇRHIVR[MVHHMI*IWXPIKYRKHIV7XVYO XYV HIV 2IX^TVIMWI HIR 2IX^FIXVIMFIVR ²FIVPEW WIR IW [IVHIR PIHMKPMGL EPPKIQIMRI :SVKEFIR FI^²KPMGL:IVYVWEGLIVKIVIGLXMKOIMXYRH2MGLXHMW OVMQMRMIVYRK KIQEGLX -R FIMHIR 0ÇRHIVR [IV HIRVYRHFMW4IVWSRIR^YV6IKYPMIVYRKHIV 2IX^TVIMWIIMRKIWIX^X(MI%RJSVHIVYRKIRERHEW 6IGLRYRKW[IWIR WXIPPX HMI FIXVSJJIRIR 9RXIV RILQIRZSVXIMP[IMWIFIXVÇGLXPMGLI,IVEYWJSVHI VYRKIR
-RHIR4IVWTIOXMZIRJ²VHMI;EWWIVOVEJX[IV OIMRHIV7GL[IM^?A[MVHYRXIVWYGLXSFHMI 7XVSQQEVOXPMFIVEPMWMIVYRK HMI PERKJVMWXMKI ;IXX FI[IVFWJÇLMKOIMX HIV ;EWWIVOVEJX[IVOI FIIMR XVÇGLXMKI YRH [IPGLI 1EWWRELQIR HEKIKIR IVKVMJJIR [IVHIR O¸RRXIR (MI [MGLXMKWXIR (I XIVQMRERXIRHIV;IXXFI[IVFWJÇLMKOIMXWMRH HMI
^YO²RJXMKIR 7XVSQQEVOXTVIMWI HMI /ETMXEP OSWXIR HMI ;EWWIV^MRWI &IWXMQQYRKIR ^Y HIR 6IWX[EWWIVQIRKIR YRH HMI 7XIYIVR J²V 9RXIV RILQIRHMIWMGLRELIERHIV6IRXEFMPMXÇXWKVIR
^IFIJMRHIR(MI)VKIFRMWWIHIV%REP]WIHIYXIR HEVEYJLMRHEWWMR>YOYRJXQMXIMRIVFIHIYXIR HIR%R^ELPZSR9RXIVRILQIRKIVIGLRIX[IVHIR QYWW HMI EYJ IMRI )VRIYIVYRK MLVIV %RPEKIR ZIV^MGLXIR [²VHIR [IRR WMGL HMI 6ELQIRFI HMRKYRKIR J²V HMI ;EWWIVOVEJX MR >YOYRJX RMGLX ÇRHIVR (MI 4VSKRSWIR WMRH EPPIVHMRKW QMX KVS WWIR 9RWMGLIVLIMXIR ZIVFYRHIR %PW FIWSRHIVW IVJSPKZIVWTVIGLIRH [IVHIR EPPI 1EWWRELQIR MR 6MGLXYRK -RXIVREPMWMIVYRK HIV I\XIVRIR /SWXIR HIV)RIVKMIIV^IYKYRKFI^IMGLRIX>YHIQWSPPXIR KI^MIPXI9RXIVWX²X^YRKWQEWWRELQIRJ²VIMR^IPRI
;IVOIJPEROMIVIRHIMRKIWIX^X[IVHIR
-Q6ELQIRHIW4VSNIOXIW4IVWTIOXMZIRJ²VHMI
;EWWIVOVEJX[IVOIMRHIV7GL[IM^WMRH^YHIQ HMI'LERGIR HIW ÓOSWXVSQQEVOXIW ?A EF KIOPÇVX [SVHIR +VYRHWÇX^PMGL OERR ZSR IMRIQ -RXIVIWWIZMIPIV/SRWYQIRXMRRIRYRH/SRWYQIR XIRERHIV2YX^YRKIVRIYIVFEVIV)RIVKMIHIVIR
&IVIMXWXIPPYRK HMI 9Q[IPX [IRMK FIPEWXIX EYW KIKERKIR [IVHIR -R &IJVEKYRKIR [MVH IX[E IMRI>ELPYRKWFIVIMXWGLEJXJ²VL¸LIVI4VIMWI L¸LIVI %RJSVHIVYRKIR ER HMI ¸OSPSKMWGLI 4VS HYOXMSRHIW7XVSQIWKIWXIPPX[IVHIR
-Q 6ELQIR HIV :IVERWXEPXYRK ZSQ 2SZIQ FIV ÓJJRYRK HIW 7XVSQQEVOXIW &IM XVÇKIHIVIRIVKMI[MVXWGLEJXPMGLIR*SVWGLYRK
?A[IPGLIQMX4IVWSRIRWILVKYXFIWYGLX [SVHIRMWX[YVHIRHMI4VSNIOXI3YZIVXYVI HY QEVGLÃ HI PÃPIGXVMGMXÃ Æ PE GSRGYVVIRGI ÞZSPYXMSR Æ PÃXVERKIV?A YRH0MFIVEPMWMI VYRK YRH 7IVZMGI TYFPMG 1MX 7TMIPVIKIPR
^YQ(STTIPWMIK?AHYVGLKIJ²LVX+VYRHWÇX^
PMGL OERR HMI 7XVSQQEVOX¸JJRYRK KIQÇWW EYW PÇRHMWGLIV)VJELVYRKIR^YFIJVMIHMKIRHIR6IWYP XEXIR J²LVIR 4VSFPIQI YRH 7GL[MIVMKOIMXIR H²VJIREFIVRMGLXYRXIVWGLÇX^X[IVHIR1MXOPE VIR WXEEXPMGLIR 6ELQIRFIHMRKYRKIR YRXIV ER HIVIQIMRIV6IKYPMIVYRKWFIL¸VHIO¸RRIRRIKE XMZI)JJIOXIFIWIMXMKX[IVHIR(EFIMWMRHZSRHIV 6IKYPMIVYRKWFIL¸VHIHMI1EVOXOVÇJXI^YFIV²GO WMGLXMKIR (EQMX O¸RRIR *ILPIRX[MGOPYRKIR r [MIIX[EMR/EPMJSVRMIRrZIVQMIHIR[IVHIR-R HIV7XYHMI0MFIVEPMWMIVYRKYRH7IVZMGITYFPMG[MVH HMIWIVOPEVHIJMRMIVX)W[MVHHEVKIPIKXHEWWHIV 7IVZMGI TYFPMG EYJ HMI ZSVKIWILIRIR JPEROMIVIR HIR 1EWWRELQIR KIQÇWW )PIOXVM^MXÇXW QEVOXKIWIX^ ERKI[MIWIR MWX [SFIM HIV JVIMI 2IX^^YKERK HMI JPÇGLIRHIGOIRHI )VWGLPMIWWYRK YRH HMI ERKIQIWWIRI 4VIMWWSPMHEVMXÇX ^Y HIR [MGLXMKWXIR)PIQIRXIRKIL¸VIR
(EW 4VSNIOX7XVSQIMRJYLV SHIV +EWZIVWXVSQ YRKMQ-RPERH?AKIPERKX^YQ)VKIFRMWHEWW KIKIR)RHI+Y(/VEJX[IVOIQMXIMRIV 0IMWXYRKWOPEWWI ZSR FMW 1;IPKIFEYX [IVHIR O¸RRXIR )W [MVH RMGLX EYWKIWGLPSWWIR HEWW HIVEVXMKI /VEJX[IVOI EYGL MR HIV 7GL[IM^
IVWXIPPX [IVHIR [SFIM WMGL HMI -RZIWXSVIRIRX WGLIMHIEQIYVSTÇMWGLIR)RIVKMIQEVOXYRHHIR IYVSTE[IMXIR 7XERHSVXQ¸KPMGLOIMXIR J²V +Y(
%RPEKIR SVMIRXMIVIR (MI %YW[MVOYRKIR HIW
&EYW ZSR +Y(%RPEKIR FIXVIJJIR ZSV EPPIQ HMI /SWXIR )QMWWMSRIR YRH HIR 4VMQÇVIRIVKMIZIV FVEYGL-Q:IVKPIMGL^YQIYVSTÇMWGLIR)RIVKMI QEVOX IVKIFIR WMGL K²RWXMKIVI :IVLÇPXRMWWI J²V IMRI +EWZIVWXVSQYRK MR HIV 7GL[IM^ EPW J²V IM RIR 7XVSQMQTSVX 0IX^XPMGL MWX J²V HMI 7XERHSVX FIYVXIMPYRK HMI YRXIVRILQIVMWGLI 7MGLX IMRIW TSXIR^MIPPIR-RZIWXSVWQEWWKIFIRH
(MI 7XYHMI%YW[MVOYRKIR HIV 1EVOX¸JJRYRK MQ +EWFIVIMGL?A ^IMKX HEWW WMGL RIY IMR
;IXXFI[IVF HIV +EWPMIJIVERXIR IMRWXIPPIR OERR (EFIM MWX HMI )VHKEW;VMXWGLEJX WIMX NILIV HIV /SROYVVIR^QMXHIQ;ÇVQIQEVOXZSVEPPIQQMX ,IM^¸P EYWKIWIX^X YRH YRXIV IRXWTVIGLIRHIQ /SWXIRHVYGO -Q +IKIRWEX^ ^YV )PIOXVM^MXÇXW ZIVWSVKYRK OSRRXIR HIWLEPF OIMRI 1SRSTSP VIRXIREYJKIFEYX[IVHIR(MI+EW[MVXWGLEJXEYJ
HIQ IYVSTÇMWGLIR /SRXMRIRX MWX KITVÇKX HYVGL IMR3PMKSTSPFIMHIV4VSHYOXMSR(MI)VHKEWTVIMWI HIVPERKJVMWXMKIR0MIJIVZIVXVÇKIWMRHERHMI4VIMW IRX[MGOPYRK ZSR ,IM^¸P ;ÇVQIQEVOX F^[
/SLPI )PIOXVM^MXÇXWQEVOX KIFYRHIR 1ER OERR HEZSR EYWKILIR HEWW HMIWI 4VIMWFMRHYRKIR EYGL FIM KI¸JJRIXIQ 1EVOX FIWXILIR FPIMFIR -RXIVREXMSREPI +VSWWLÇRHPIV [IVHIR MR HIR 7GL[IM^IV1EVOXIMRHVMRKIR(MIWIV;IXXFI[IVF [MVH WMGL EYJ HMI KV¸WWIVIR /YRHIR MR HIV 7GL[IM^OSR^IRXVMIVIR YRH MR IVWXIV 0MRMI HMINI
RMKIR QMX EFWGLEPXFEVIR 0MIJIVYRKIR FIXVIJJIR (MI)RHZIVOÇYJIVTVIMWIJ²V,EYWLEPXI[IVHIRZSV EPPIQFIMIMRIQXMIJIVIR2MZIEYHIV,IM^¸PTVIMWI
RMKIR QMX EFWGLEPXFEVIR 0MIJIVYRKIR FIXVIJJIR (MI)RHZIVOÇYJIVTVIMWIJ²V,EYWLEPXI[IVHIRZSV EPPIQFIMIMRIQXMIJIVIR2MZIEYHIV,IM^¸PTVIMWI