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Uploaded by
juanmibecerra
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Municipios Andaluces. Datos Básicos 2009
Municipios Andaluces. Datos Básicos 2009. Instituto de Estadística de Andalucía
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Municipios Andaluces. Datos Básicos 2009
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8.
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<*6<7 .6 ,.6<:7; .;8.,J/2,7; ,757 4*; 26<.0:*-*; A .6 =62-*-.; .;8.,J/2,*; .6 ,.6<:7; 7:-26*:27; -. 26/*6<24 A -. 8:25*:2* =.6<. 76;.3.:J* -. -=,*,2H6 =:;7 &( % 1# # ! $# ' ! &! " #($ # !) 3 %. 8:787:,276* .4 87:,.6<*3. -. 8*:<2,28*,2H6 .6 4*; 4.,,276.; *4 #*:4*5.6<7 -. 6-*4=,J* ,.4.+:*-*; .4 -. 5*:B7 -. ;<. 87:,.6<*3. ;. ,*4,=4* ,757 ,7,2.6<. .6<:. .4 6G5.:7 -. >7<*6<.; A .4 ,.6;7 .4.,<7:*4 =.6<. 76;.3.:J* -. 7+.:6*,2H6 E '62-*- -. 5.-2-* )% & )!( *$' & 4 $' , & $ 6 +*:+.,17; ;. 26,4=A.6 <7-*; 4*; <2.::*; -. ,=4<2>7 .6 -.;,*6;7 7 67 7,=8*-*; -=:*6<. .4 *I7 87: ,=*49=2.: 57<2>7 *=69=. 1*A*6 ;2-7 *8:7>.,1*-*; ,757 8*;<7; 8*:* .4 0*6*-7 * ;=8.:/2,2. -.-2,*-* * ,=4<2>7; 1.:+L,.7; 26,4=A. 47; ,=4<2>7; <.587:*4.; 4*; 9=. -*6 -7; ,7;.,1*; ;. <75*6 .6 ,=.6<* =6* ;74* >.B 4*; 8:*-.:*; <.587:*4.; 8*:* ;2.0* 7 8*;<7:.7 A 4*; <2.::*; -.-2,*-*; * 1=.:<*; 26,4=2-7; 47; ,=4<2>7; -. 26>.:6*-.:7 =.6<. 76;.3.:J* -. 0:2,=4<=:* A #.;,* I7 76;2-.:*,276.; * <.6.: .6 ,=.6<* E *<7; .;<25*-7; E 7; -*<7; 8:7>26,2*4.; A .4 <7<*4 8*:* 4* 75=62-*- =<H675* *6-*4=B* <2.6.6 ,757 /=.6<. .4 6=*:27 ;<*-J;<2,7 -. 6-*4=,J* A .;<L6 :./.:2-7; *4 *I7 *<7; 8:7>2;276*4.; E '62-*- -. 5.-2-* 1.,<L:.*; )% & )!( *$' ! 2$'$' 7; ,=4<2>7; 4.I7;7; ;76 ,=4<2>7; 9=. 7,=8*6 .4 <.::.67 -=:*6<. 4*:07; 8.:27-7; A 67 6.,.;2<*6 ;.: :.84*6<*-7; -.;8=K; -. ,*-* ,7;.,1* 6,4=A. <2.::*; 7,=8*-*; 87: L:+74.; /:=<*4.; 670*4.; A L:+74.; -. /:=<7 ;.,7 742>7; >2-.; .<, 8.:7 .@,4=A. 4* <2.::* -.-2,*-* * L:+74.; 8*:* 4* 8:7-=,,2H6 -. 4.I* 7 5*-.:* =.6<. 76;.3.:J* -. 0:2,=4<=:* A #.;,* I7 76;2-.:*,276.; * <.6.: .6 ,=.6<* E *<7; .;<25*-7; E 7; -*<7; 8:7>26,2*4.; A .4 <7<*4 8*:* 4* 75=62-*- =<H675* *6-*4=B* <2.6.6 ,757 /=.6<. .4 6=*:27 ;<*-J;<2,7 -. 6-*4=,J* A .;<L6 :./.:2-7; *4 *I7 *<7; 8:7>2;276*4.; E '62-*- -. 5.-2-* 1.,<L:.*; 0" &$ * 3 )!$' ()& '"$' " (& )! $' 7; >.1J,=47; 5*<:2,=4*-7; ,758:.6-.6 47; -. /*+:2,*,2H6 6*,276*4 47; -. 2587:<*,2H6 A 47; -. ;=+*;<* (.1J,=47; <=:2;57; ;76 <7-7; *9=.447; >.1J,=47; -. :=.-*; -.;<26*-7; *4 <:*6;87:<. -. >2*3.:7; ,76 ,*8*,2-*- 26/.:27: * 6=.>. 84*B*; 26,4=A.6-7 *4 ,76-=,<7: =.6<. 262;<.:27 -.4 6<.:27: 2:.,,2H6 .6.:*4 -. &:L/2,7 ;<*-J;<2,* -. >.1J,=47; 5*<:2,=4*-7; I7 E *<7; 8:7>2;276*4.;
9.
0" &$
'( ! " #($' $( ! &$' '6 .;<*+4.,252.6<7 ;. ,76;2-.:* 17<.4.:7 ,=*6-7 .4 17;8.-*3. ,76;<2<=A. ;= *,<2>2-*- 8:26,28*4 *=69=. ;. -.;*::744.6 .6 K4 7<:*; *,<2>2-*-.; ;.,=6-*:2*; 4 .,:.<7 -. -. /.+:.:7 -. .;<*+4.,252.6<7; 17<.4.:7; ,76<2.6. 47; :.9=2;2<7; ,75=6.; A .;8.,J/2,7; -. ,*-* 57-*42-*- -. .;<*+4.,252.6<7 ;252;57 .;<*+4.,. 4* ,4*;2/2,*,2H6 -. 47; 52;57; ,76;2-.:L6-7;. 0:=87; ,*<.07:J*; 57-*42-*-.; A .6 ;= ,*;7 .;8.,2*42-*-.; 7; .;<*+4.,252.6<7; 17<.4.:7; ;. ,4*;2/2,*6 .6 47; ;20=2.6<.; 0:=87; E 7<.4 ;<*+4.,252.6<7; 17<.4.:7; 9=. ;*4>7 .6 *40=67; ;=8=.;<7; -.+.6 7,=8*: 4* <7<*42-*- 7 8*:<. 26-.8.6-2.6<. -. =6 .-2/2,27 7 =6 ,763=6<7 -. .-2/2,27; -. /7:5* 17570K6.* -2;8762.6-7 -. .6<:*-*; 8:782*; A .6 ;= ,*;7 *;,.6;7:.; A .;,*4.:*; -. =;7 .@,4=;2>7 E 7;<*4.; ;<*+4.,252.6<7; 17<.4.:7; 9=. 8=.-.6 7,=8*: ;H47 =6* 8*:<. -. =6 .-2/2,27 7; 17;<*4.; -.+.:L6 .;<*: -7<*-7; -. *;.7; .6 <7-*; 4*; =62-*-.; -. *473*52.6<7 E #.6;276.; ;<*+4.,252.6<7; 17<.4.:7; 9=. *-.5L; -. 87-.: 7,=8*: ;H47 8*:<. -. =6 .-2/2,27 8=.-.6 <.6.: 47; *;.7; 7 +*I7; /=.:* -. 4* =62-*- -. *473*52.6<7 E 7<.4.; *8*:<*5.6<7; ;<*+4.,252.6<7; 17<.4.:7; 9=. ,=.6<*6 ,76 4*; 26;<*4*,276.; *-.,=*-*; 8*:* 4* ,76;.:>*,2H6 .4*+7:*,2H6 A ,76;=57 -. *425.6<7; A +.+2-*; -.6<:7 -. ,*-* =62-*- -. *473*52.6<7 7; 17<.4.; *8*:<*5.6<7; ;*4>7 .6 *40=67; ;=8=.;<7; -.+.6 7,=8*: 4* <7<*42-*- 7 8*:<. 26-.8.6-2.6<. -. =6 .-2/2,27 7 =6 ,763=6<7 -. .-2/2,27; -. /7:5* 17570K6.* -2;8762.6-7 -. .6<:*-*; 8:782*; A .6 ;= ,*;7 *;,.6;7:.; A .;,*4.:*; -. =;7 .@,4=;2>7 =.6<. 76;.3.:J* -. &=:2;57 A .87:<. 2:.,,2H6 .6.:*4 -. #4*62/2,*,2H6 &=:J;<2,* I7 76;2-.:*,276.; * <.6.: .6 ,=.6<* E *<7; 8:7>2;276*4.; E %. ,76<*+242B*6 <7-7; *9=.447; .;<*+4.,252.6<7; 9=. 1*A*6 <.62-7 *,<2>2-*- .6 *40G6 8.:27-7 -.4 *I7 '( ! " #($' $# (* $#1" 4 2:.,<7:27 -. ;<*+4.,252.6<7; ,76 ,<2>2-*- ,76H52,* .6 6-*4=,J* ,758:.6-. <7-7; 47; .;<*+4.,252.6<7; =+2,*-7; .6 4* 75=62-*- =<H675* -. 6-*4=,J* 4 <K:5267 .;<*+4.,252.6<7 1*,. :./.:.6,2* * =6* =62-*- 8:7-=,<7:* -. +2.6.; A 7 ;.:>2,27; 9=. -.;*::744* =6* 7 5L; *,<2>2-*-.; -. ,*:L,<.: .,76H52,7 7 ;7,2*4 +*37 4* :.;876;*+242-*- -. =6 <2<=4*: 7 .58:.;* .6 =6 47,*4 ;2<=*-7 .6 =6 .584*B*52.6<7 /237 A 8.:5*6.6<. * *,<=*42B*,2H6 -.4 -2:.,<7:27 ;. :.*42B* /=6-*5.6<*45.6<. ,76 26/7:5*,2H6 8:7,.-.6<. -. -2>.:;7; :.02;<:7; *-5262;<:*<2>7; A ,76 8.:27-2,2-*- *4 5.67; *6=*4 =69=. .6 .4 -2:.,<7:27 ;. 26,4=A.6 47; ,.6<:7; -. 8:7-=,,2H6 .,76H52,* -. 6-*4=,J* 67 ;. ,76;2-.:*6 ;26 .5+*:07 =6* ;.:2. -. *,<2>2-*-.; .,76H52,*; E *9=K44*; 9=. 67 .6<:*6 * /7:5*: 8*:<. -.4 #:7-=,<7 6<.:27: :=<7 :.0276*4 E 4*; *,<2>2-*-.; *0:*:2*; E 4*; *,<2>2-*-.; -. 4* -5262;<:*,2H6 #G+42,* E 4*; *,<2>2-*-.; :.*42B*-*; .6 =62-*-.; 5H>24.; 7 ;26 26;<*4*,2H6 8.:5*6.6<. E 4*; 9=. ;. :.*42B*6 .6 .4 26<.:27: -. >2>2.6-*; /*5242*:.; ;26 87;2+242-*- -. 2-.6<2/2,*,2H6 -.;-. .4 .@<.:27: A ;26 *,,.;7 /L,24 *4 8G+42,7 =.6<. 6;<2<=<7 -. ;<*-J;<2,* -. 6-*4=,J* 2:.,<7:27 -. ;<*+4.,252.6<7; ,76 ,<2>2-*- ,76H52,* .6 6-*4=,J* I7 E 6/7:5*,2H6 :./.:2-* * -. .6.:7
10.
&$ &
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
11.
# $&"
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
12.
)% &
&3 $! ' 0# ( %$ )!( *$ 2$ %. ;.4.,,276* 8*:* ,*-* 5=62,2827 .4 <287 -. ,=4<2>7 9=. 8:.-7526* .6 /=6,2H6 -.4 6G5.:7 -. 1.,<L:.*; 9=. 7,=8* =.6<. 76;.3.:J* -. 0:2,=4<=:* A #.;,* I7 76;2-.:*,276.; * <.6.: .6 ,=.6<* E *<7; .;<25*-7; E '62-*- -. 5.-2-* 8:26,28*4 <287 -. ,=4<2>7 '(& ) 1# ! (* ' 0# ! #0" &$ '( ! " #($' 2$ %. ,76;2-.:* 4* *,<2>2-*- ;.,,2H6 8:.-7526*6<. .6<.6-2K6-7;. 87: 4* 52;5* * *9=.44* 9=. <2.6. =6 5*A7: 6G5.:7 -. .;<*+4.,252.6<7; * ;.,,2H6 75.:,27 :.8*:*,2H6 -. >.1J,=47; -. 57<7: 57<7,2,4.<*; A ,2,4757<7:.; A *:<J,=47; 8.:;76*4.; A -. =;7 -75K;<2,7 87: *04=<26*: *,<2>2-*-.; :*B76*+4.5.6<. 8:.-7526*6<.; .6 4* 5*A7:J* -. 47; 5=62,2827; ;. 1* .@,4=2-7 A* 9=. ;= 26,4=;2H6 .42526*:J* .4 ,75876.6<. -. -2>.:;2-*- A -. 8.,=42*:2-*- 9=. ;. 8:.<.6-. 57;<:*: -. 4* *,<2>2-*- .,76H52,* =.6<. 6;<2<=<7 -. ;<*-J;<2,* -. 6-*4=,J* 2:.,<7:27 -. ;<*+4.,252.6<7; ,76 ,<2>2-*- ,76H52,* .6 6-*4=,J* I7 76;2-.:*,276.; * <.6.: .6 ,=.6<* E 6/7:5*,2H6 :./.:2-* * -. .6.:7 E =*6-7 .6 =6 5=62,2827 ,726,2-. .4 6G5.:7 -. .;<*+4.,252.6<7; *87:<*-7 87: -7; 7 5L; ;.,,276.; ;. ,76;2-.:* *9=.44* 9=. *87:<. 5*A7: 6G5.:7 -. .;<*+4.,252.6<7; 8*:* 6-*4=,J* E '62-*- -. 5.-2-* ;.,,2H6 -. *,<2>2-*- 9=. 8:.-7526* .6 /=6,2H6 -.4 6G5.:7 -. .;<*+4.,252.6<7; ) #( &($ &4 6;<2<=<7 -. *:<70:*/J* -. 6-*4=,J* $( ' *<7 67 -2;8762+4. *<7 67 :.8:.;.6<*<2>7
15.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 # " ! (1' !:2'3B' (7:)+3' !:2'3B' *7' '77:+)48 1(D3).+> !+/34 $3/*4 1(414*:= !:2'3B' 1(4< !+/34 $3/*4 1)41+' !+/34 $3/*4 1)@39'7 !+/34 $3/*4 1):*/' *+ 439+'-:* 4 7+57+8+39'9/;4 1.'(/' !:2'3B' & $ $ 1.'2' *+ 12+7B' !:2'3B' 1/)?3 4 7+57+8+39'9/;4 12+7B' '77:+)48 12@)/9' ):'*47 184*:< !+/34 $3/*4 39'8 !+/34 $3/*4 7(41+'8 !+/34 $3/*4 72:A' *+ 12'3>47' !+/34 $3/*4 ')'7+8 4 7+57+8+39'9/;4 '=D7)'1 !:2'3B' '='76:+ !+/34 $3/*4 C*'7 !+/34 $3/*4 +/7+8 4 7+57+8+39'9/;4 +3'.'*:< :1-'7/' +3/9'-1' 4 7+57+8+39'9/;4 :3/)/5/48 3*'1:)+8 '948 D8/)48
16.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 # " (1' (7:)+3' *7' 1(D3).+> 1(414*:= 1(4< 1)41+' 1)@39'7 1):*/' *+ 439+'-:* 1.'(/' ! & & # ' 1.'2' *+ 12+7B' 1/)?3 12+7B' 12@)/9' 184*:< 39'8 7(41+'8 72:A' *+ 12'3>47' ')'7+8 '=D7)'1 '='76:+ C*'7 +/7+8 +3'.'*:< +3/9'-1' 74;/3)/' *+ 12+7B'
17.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 +3/>'1@3 !+/34 $3/*4 +39'7/6:+ !:2'3B' +70' !:2'3B' '30D='7 !+/34 $3/*4 '3947/' !+/34 $3/*4 '7(43+7'8 '77:+)48 '8974 *+ /1'(7+8 4 7+57+8+39'9/;4 .+7)48 !+/34 $3/*4 ./7/;+1 !+/34 $3/*4 @(*'7 ):'*47 :+;'8 *+1 12'3>47' !+/34 $3/*4 '1B'8 '77:+)48 0/*4 1 '77:+)48 3/< !+/34 $3/*4 +1/< 1+2'3/' /3+8 !:2'3B' /A'3' !:2'3B' 43*@3 !:8/' D*47 !:2'3B' '11'7*48 48 !+/34 $3/*4 & % ! ' '77:).' !:2'3B' C7-'1 !:2'3B' :C)/0' 4 7+57+8+39'9/;4 :C7)'1 *+ 12+7B' '77:+)48 :C7)'1 ;+7' !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
18.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 +3/>'1@3 +39'7/6:+ +70' '30D='7 '3947/' '7(43+7'8 '8974 *+ /1'(7+8 .+7)48 ./7/;+1 @(*'7 :+;'8 *+1 12'3>47' '1B'8 0/*4 1 3/< +1/< /3+8 /A'3' 43*@3 D*47 '11'7*48 48 & & ' ' '77:).' C7-'1 :C)/0' :C7)'1 *+ 12+7B' :C7)'1 ;+7' 74;/3)/' *+ 12+7B'
19.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 11'7 !:8/' 389/3)/@3 /9:'3/' '74=' !:2'3B' D:0'7 *+ 3*'7'< !:2'3B' B0'7 /9:'3/' :(7B3 !+/34 $3/*4 :)'/3+3' *+ 1'8 #477+8 '77:+)48 ?)'7 !+/34 $3/*4 ')'+1 ):'*47 '7B' ):'*47 40D)'7 !+/34 $3/*4 4043+7' ' '77:+)48 ')/2/+394 !:2'3B' B0'7 '77:+)48 .'3+8 !:2'3B' 1:1' *+ '8974 !+/34 $3/*4 1:1' *+1 !B4 !:2'3B' 7/' !+/34 $3/*4 '*:1+8 !:2'3B' '79'14' !+/34 $3/*4 '9+73' *+1 !B4 !+/34 $3/*4 +)./3' !:2'3B' :15B ):'*47 :7).+3' 7-+39/3' !D-41 4 7+57+8+39'9/;4 :3/)/5/48 3*'1:)+8 '948 D8/)48
20.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 11'7 389/3)/@3 '74=' D:0'7 *+ 3*'7'< B0'7 :(7B3 :)'/3+3' *+ 1'8 #477+8 ?)'7 ')'+1 '7B' 40D)'7 4043+7' ' ')/2/+394 B0'7 .'3+8 1:1' *+ '8974 1:1' *+1 !B4 7/' '*:1+8 '79'14' ! ( % ! " ' '9+73' *+1 !B4 +)./3' :15B :7).+3' !D-41 74;/3)/' *+ 12+7B'
21.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 !/40' !:2'3B' !46:+9'8 *+ '7 !:2'3B' "'39' 7:> *+ '7).+3' :1-'7/' "'39' + *+ 43*?0'7 !:2'3B' "+3C8 !+/34 $3/*4 "+7@3 !+/34 $3/*4 "/+774 !+/34 $3/*4 "42439B3 !+/34 $3/*4 "47('8 !+/34 $3/*4 ":,1B !+/34 $3/*4 #'(+73'8 !:2'3B' #'(+734 !+/34 $3/*4 #'.'1 !:2'3B' #+76:+ !:2'3B' #B041' !:2'3B' #7+8 %/11'8 '8 !:2'3B' #:77+ !+/34 $3/*4 #:77/11'8 !:2'3B' $1+/1' *+1 '254 !+/34 $3/*4 $77D)'1 !+/34 $3/*4 %+1+,/6:+ 4 7+57+8+39'9/;4 %C1+> 1'3)4 !+/34 $3/*4 %C1+> !:(/4 !+/34 $3/*4 %+7' !+/34 $3/*4 %/'947 !:2'3B' %B)'7 '77:+)48 &:7-+3' !+/34 $3/*4 ! # ! & " % % ' :3/)/5/48 3*'1:)+8 '948 D8/)48
22.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 !/40' !46:+9'8 *+ '7 "'39' 7:> *+ '7).+3' "'39' + *+ 43*?0'7 "+3C8 "+7@3 "/+774 "42439B3 "47('8 ":,1B #'(+73'8 #'(+734 #'.'1 #+76:+ #B041' #7+8 %/11'8 '8 #:77+ #:77/11'8 $1+/1' *+1 '254 $77D)'1 %+1+,/6:+ %C1+> 1'3)4 %C1+> !:(/4 %+7' %/'947 %B)'7 &:7-+3' ! # 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 -1,2 -1 -0,8 -0,6 -0,4 -0,2 0 0,2 0,4 0,6 0,8 1 1,2 74;/3)/' *+ 12+7B'
24.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 # ! 1)'1D *+ 148 '>:1+8 !+/34 $3/*4 1)'1D *+1 %'11+ !:2'3B' 1-'7 !+/34 $3/*4 1-+)/7'8 '77:+)48 1-4*43'1+8 1+2'3/' & $ $ 7)48 *+ 1' 7439+7' !+/34 $3/*4 '7('9+ '77:+)48 '77/48 48 !+/34 $3/*4 +3'1:5 '8'8 %/+0'8 C1-/)' +3'4)'> !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
25.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 # ! 1)'1D *+ 148 '>:1+8 1)'1D *+1 %'11+ 1-'7 1-+)/7'8 1-4*43'1+8 ! & & # ' 7)48 *+ 1' 7439+7' '7('9+ '77/48 48 +3'1:5 '8'8 %/+0'8 +3'4)'> 74;/3)/' *+ D*/>
26.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 47348 !+/34 $3/*4 486:+ 1 '77:+)48 D*/> '77:+)48 '89+11'7 *+ 1' 7439+7' 1+2'3/' ./)1'3' *+ 1' 7439+7' !+/34 $3/*4 & % ! ' ./5/43' '77:+)48 43/1 *+ 1' 7439+7' 1+2'3/' 85+7' '77:+)48 '8947 1 !+/34 $3/*4 7'>'1+2' !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
27.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 47348 486:+ 1 D*/> '89+11'7 *+ 1' 7439+7' ./)1'3' *+ 1' 7439+7' & & ' ' ./5/43' 43/1 *+ 1' 7439+7' 85+7' '8947 1 7'>'1+2' 74;/3)/' *+ D*/>
28.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 +7+> *+ 1' 7439+7' 41/;/' /2+3' *+ 1' 7439+7' !:2'3B' B3+' *+ 1' 43)+5)/@3 ' !+/34 $3/*4 +*/3' "/*43/' !+/34 $3/*4 1;+7' !+/34 $3/*4 '9+73' *+ !/;+7' !+/34 $3/*4 7'*4 *+1 !+= C1-/)' :+794 *+ "'39' '7B' 1 41/;/' :+794 !+'1 '77:+)48 :+794 "+77'34 !:2'3B' !49' $$ *+ 2C7/)' "'3 +73'3*4 41/;/' "'3 48C *+1 %'11+ '77:+)48 "'3 !46:+ !+/34 $3/*4 "'31?)'7 *+ '77'2+*' '77:+)48 :3/)/5/48 3*'1:)+8 '948 D8/)48
29.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 +7+> *+ 1' 7439+7' /2+3' *+ 1' 7439+7' B3+' *+ 1' 43)+5)/@3 ' +*/3' "/*43/' 1;+7' ! ( % ! " ' '9+73' *+ !/;+7' 7'*4 *+1 !+= :+794 *+ "'39' '7B' 1 :+794 !+'1 :+794 "+77'34 !49' "'3 +73'3*4 "'3 48C *+1 %'11+ "'3 !46:+ "'31?)'7 *+ '77'2+*' 74;/3)/' *+ D*/>
30.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 "+9+3/1 *+ 1'8 4*+-'8 '7'-:'= #'7/,' 1+2'3/' #477+ 1.D6:/2+ 4 7+57+8+39'9/;4 #7+(:0+3' 41/;/' $(7/6:+ '77:+)48 %+0+7 *+ 1' 7439+7' !+/34 $3/*4 %/11'1:+3-' *+1 !48'7/4 4 7+57+8+39'9/;4 %/11'2'79B3 !:2'3B' &'.'7' !+/34 $3/*4 " ! & " % % ' :3/)/5/48 3*'1:)+8 '948 D8/)48
31.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 "+9+3/1 *+ 1'8 4*+-'8 #'7/,' #477+ 1.D6:/2+ #7+(:0+3' $(7/6:+ %+0+7 *+ 1' 7439+7' %/11'1:+3-' *+1 !48'7/4 %/11'2'79B3 &'.'7' " 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 -1,2 -1 -0,8 -0,6 -0,4 -0,2 0 0,2 0,4 0,6 0,8 1 1,2 74;/3)/' *+ D*/>
33.
5(2')/A4
5(2')/A4 58)+4:'0+ *+ 58)+4:'0+ *+ 5(2')/A4 +=:8'40+8' 8+9/*+4:+ "'2*5 ')/3/+4:59 +,;4)/54+9 2;3459 658 #5:'2 ;0+8+9 65(2')/A4 65(2')/A4 B5 3/-8':58/5 B5 B5 685,+958 +4 B5 B5 3+458 3'>58 B5 +*;)')/A4 *+ 'B59 *+ 'B59 #5:'2 *+ ')/54'2/*'* 68+*53/4'4:+ (D9/)' B5 B5 +=:8'40+859 ;895 ')/54'2/*'* @3+85 *+ +=:8'40+859 # " ! $ *'3;? !;3'4C' -;/2'8 *+ 2' 854:+8' '88;+)59 2)'8')+059 !;3'4C' 23+*/4/22' !;3'4C' 235*A<'8 *+2 !C5 '88;+)59 B58' !;3'4C' '+4' !;3'4C' +2'2)D?'8 !;3'4C' +23+? !;3'4C' +4'3+0C '88;+)59 & $ $ 2D?7;+? 59 !;3'4C' ;0'2'4)+ !;3'4C' '(8' !;3'4C' 'B+:+ *+ 2'9 #588+9 '88;+)59 '8)'(;+> !;3'4C' ;4/)/6/59 4*'2;)+9 ':59 D9/)59
34.
'8:/)/6')/A4 ";6+8,/)/+
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50.
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5)2(*0B4 58*,4:(1, +, 58*,4:(1, +, 5)2(*0B4 ,=:8(41,8( 8,90+,4:, #(2+5 (*030,4:59 ,-;4*054,9 2;3459 658 $5:(2 ;1,8,9 65)2(*0B4 65)2(*0B4 C5 30.8(:5805 C5 C5 685-,958 ,4 C5 C5 3,458 3(>58 C5 ,+;*(*0B4 +, (C59 +, (C59 $5:(2 +, (*054(20+(+ 68,+5304(4:, )F90*( C5 C5 ,=:8(41,859 ;895 (*054(20+(+ A3,85 +, ,=:8(41,859 54:,-8D5 ",045 %40+5 54:,1D*(8 ",045 %40+5 54:022(4( ";3(4D( 58(2,+( +, '(-(>54( ",045 %40+5 58,2F)58 ";3(4D( 5:802 ";3(4D( ;8:(9 ",045 %40+5 ,<(+( ",045 %40+5 0.@,2(9 ",045 %40+5 D<(8 ",045 %40+5 .D1(8,9 (88;,*59 8*, ",045 %40+5 G8.0<( ",045 %40+5 :D<(8 ";3(4D( :;8( (88;,*59 (+;2 8.,4:04( (36(4,08( 5 8,68,9,4:(:0<5 ,+85 (8:D4,? ";3(4D( ,20.859 8.,4:04( ,?( ( (88;,*59 04(8 2 ",045 %40+5 0459 ,402 ",045 %40+5 0459 ;,4:, 520<0( DC(8 ";3(4D( 52D*(8 5 8,68,9,4:(:0<5 525659 ";3(4D( B8:;.59 ";3(4D( ;,)2( +, 54 (+807;, (88;,*59 ;20(4(9 /02, ;8;22,4( (88;,*59 !;E4:(8 2,3(40( ";)0:, ",045 %40+5 #(2(8 520<0( #(25)8,C( ",045 %40+5 #(4:( 8;? +,2 53,8*05 ",045 %40+5 #(4:( , 520<0( #5658:A1(8 5 8,68,9,4:(:0<5 #58<02F4 (88;,*59 $(/( ( ",045 %40+5 $588, (8+,2( 5 8,68,9,4:(:0<5 $58<0?*B4 ",045 %40+5 $8,<E2,? ",045 %40+5 $;8B4 ",045 %40+5 %.D1(8 ";3(4D( &(22, 2 ",045 %40+5 &(22, +,2 '(2()D ";90( &F258 5 8,68,9,4:(:0<5 &,.(9 +,2 ,402 520<0( &E2,? +, ,4(;+(22( ";3(4D( &,4:(9 +, ;,23( ";3(4D( ;40*06059 4+(2;*,9 (:59 F90*59
51.
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#;6,8-0*0, A3,85 +, A3,85 +, 9:()2,*030,4:59 (85 54:8(:59 54:8(:59 ;8)(4( ",4:( 4,:( ,4 2,**054,9 +,+0*(+( ( +,+0*(+( ( <,/D*;259 ,9:()2,*030,4:59 *54 8,.09:8(+5 8,.09:8(+59 8,.09:8(+59 ( A3,85 +, 3,+0( (2 (82(3,4:5 *;2:0<59 *;2:0<59 :;809359 /5:,2,859 (*:0<0+(+ C5 :5:(2,9 3;1,8,9 8,*0)59 +,*2(8(+( +, 4+(2;*D( /,8)F*,59 > 2,C5959 3(:80*;2(+59 C5 ,*54B30*( C5 C5 C5 C5 C5 )(8),*/59 C5 C5 C5 C5 54:,-8D5 54:,1D*(8 54:022(4( 58(2,+( +, '(-(>54( 58,2F)58 5:802 ;8:(9 ,<(+( 0.@,2(9 D<(8 .D1(8,9 8*, G8.0<( :D<(8 :;8( (+;2 (36(4,08( ,+85 (8:D4,? ,20.859 ,?( ( 04(8 2 0459 ,402 0459 ;,4:, DC(8 52D*(8 525659 B8:;.59 ;,)2( +, 54 (+807;, ;20(4(9 ;8;22,4( !;E4:(8 ";)0:, #(2(8 #(25)8,C( #(4:( 8;? +,2 53,8*05 #(4:( , #5658:A1(8 #58<02F4 $(/( ( $588, (8+,2( $58<0?*B4 $8,<E2,? $;8B4 %.D1(8 &(22, 2 &(22, +,2 '(2()D &F258 &,.(9 +,2 ,402 &E2,? +, ,4(;+(22( &,4:(9 +, ;,23( 85<04*0( +, 8(4(+(
52.
5)2(*0B4
5)2(*0B4 58*,4:(1, +, 58*,4:(1, +, 5)2(*0B4 ,=:8(41,8( 8,90+,4:, #(2+5 (*030,4:59 ,-;4*054,9 2;3459 658 $5:(2 ;1,8,9 65)2(*0B4 65)2(*0B4 C5 30.8(:5805 C5 C5 685-,958 ,4 C5 C5 3,458 3(>58 C5 ,+;*(*0B4 +, (C59 +, (C59 $5:(2 +, (*054(20+(+ 68,+5304(4:, )F90*( C5 C5 ,=:8(41,859 ;895 (*054(20+(+ A3,85 +, ,=:8(41,859 &022(3,4( ",045 %40+5 &022(4;,<( +, 2(9 $588,9 ;2.(80( &022(4;,<( ,9D( *;(+58 &D?4(8 520<0( '(-(88(>( (88;,*59 '(.8( ",045 %40+5 ';)0( ( 8.,4:04( 'A1(8 ";3(4D( " ! & " % % ' ;40*06059 4+(2;*,9 (:59 F90*59
53.
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#;6,8-0*0, A3,85 +, A3,85 +, 9:()2,*030,4:59 (85 54:8(:59 54:8(:59 ;8)(4( ",4:( 4,:( ,4 2,**054,9 +,+0*(+( ( +,+0*(+( ( <,/D*;259 ,9:()2,*030,4:59 *54 8,.09:8(+5 8,.09:8(+59 8,.09:8(+59 ( A3,85 +, 3,+0( (2 (82(3,4:5 *;2:0<59 *;2:0<59 :;809359 /5:,2,859 (*:0<0+(+ C5 :5:(2,9 3;1,8,9 8,*0)59 +,*2(8(+( +, 4+(2;*D( /,8)F*,59 > 2,C5959 3(:80*;2(+59 C5 ,*54B30*( C5 C5 C5 C5 C5 )(8),*/59 C5 C5 C5 C5 &022(3,4( &022(4;,<( +, 2(9 $588,9 &022(4;,<( ,9D( &D?4(8 '(-(88(>( '(.8( ';)0( ( 'A1(8 " 85<04*0( +, 8(4(+(
55.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 ! ! " 1D0'7 1+2'3/' 10'7'6:+ 479:-'1 12+3*74 1 479:-'1 1243'89+7 1' !+'1 !:2'3B' 12439+ !:2'3B' & $ $ 14834 !:2'3B' 7')+3' !:2'3B' 74).+ 479:-'1 774=4241/348 *+ +@3 4 7+57+8+39'9/;4 ='2439+ 479:-'1 +'8 !:2'3B' +774)'1 4 7+57+8+39'9/;4 411:1148 '7 *+1 43*'*4 !:2'3B' 43'7+8 !:2'3B' '(+>'8 !:(/'8 4143/' :3/)/5/48 3*'1:)+8 '948 D8/)48
56.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 ! ! 1D0'7 10'7'6:+ 12+3*74 1 1243'89+7 1' !+'1 12439+ ! & & # ' 14834 7')+3' 74).+ 774=4241/348 *+ +@3 ='2439+ +'8 +774)'1 411:1148 '7 *+1 43*'*4 43'7+8 '(+>'8 !:(/'8 74;/3)/' *+ :+1;'
57.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 '1' !:2'3B' '1'A'8 !:2'3B' '25/114 1 :1-'7/' '254,7B4 7'8/1 'A';+7'1 *+ +@3 4 7+57+8+39'9/;4 '79'=' !:2'3B' '89'A4 *+1 !4(1+*4 !+/34 $3/*4 +774 *+ 3*C;'14 1 !:2'3B' .:)+3' 1+2'3/' 479+)43)+5)/@3 !:2'3B' & % ! ' 479+-'3' 479:-'1 479+1'>47 4 7+57+8+39'9/;4 :2(7+8 *+ 32+*/4 4 7+57+8+39'9/;4 :2(7+8 *+ "'3 '794142C 4 7+57+8+39'9/;4 :2(7+8 '=47+8 !:2'3B' :3/)/5/48 3*'1:)+8 '948 D8/)48
58.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 '1' '1'A'8 '25/114 1 '254,7B4 'A';+7'1 *+ +@3 '79'=' '89'A4 *+1 !4(1+*4 +774 *+ 3*C;'14 1 .:)+3' 479+)43)+5)/@3 & & ' ' 479+-'3' 479+1'>47 :2(7+8 *+ 32+*/4 :2(7+8 *+ "'3 '794142C :2(7+8 '=47+8 74;/3)/' *+ :+1;'
59.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 3)/3'841' 479:-'1 8)')+3' *+1 '254 !:2'3B' :+39+.+7/*48 !:2'3B' '1'74>' !:2'3B' /(7'1+@3 !:2'3B' 7'3'*' *+ !B4 #/394 ' 4 7+57+8+39'9/;4 7'3'*4 1 479:-'1 /-:+7' *+ 1' "/+77' 7'8/1 /340'1+8 4 7+57+8+39'9/;4 /34048 !:2'3B' :+1;' !:2'3B' 81' 7/89/3' '77:+)48 '(:-4 !+/34 $3/*4 +5+ !:2'3B' /3'7+8 *+ 1' "/+77' 4 7+57+8+39'9/;4 :)+3' *+1 :+794 !:2'3B' '3>'3/11' !:2'3B' '7/3+8 48 !+/34 $3/*4 /3'8 *+ !/49/394 :1-'7/' 4-:+7 '77:+)48 ';' ' 479:-'1 +7;' :1-'7/' /+(1' !:2'3B' '12' *+1 43*'*4 ' !:2'3B' '148 *+ 1' 7439+7' !:2'3B' :3/)/5/48 3*'1:)+8 '948 D8/)48
60.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 3)/3'841' 8)')+3' *+1 '254 :+39+.+7/*48 '1'74>' /(7'1+@3 7'3'*' *+ !B4 #/394 ' 7'3'*4 1 /-:+7' *+ 1' "/+77' /340'1+8 /34048 :+1;' 81' 7/89/3' '(:-4 +5+ /3'7+8 *+ 1' "/+77' ! ( % ! " ' :)+3' *+1 :+794 '3>'3/11' '7/3+8 48 /3'8 *+ !/49/394 4-:+7 ';' ' +7;' /+(1' '12' *+1 43*'*4 ' '148 *+ 1' 7439+7' 74;/3)/' *+ :+1;'
61.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 '9+73' *+1 '254 !:2'3B' '=24-4 479:-'1 :+(1' *+ :>2D3 479:-'1 :+794 47'1 41/;/' :39' $2(7B' 4143/' !4)/'3' *+1 43*'*4 !:2'3B' !48'1 *+ 1' 7439+7' 479:-'1 "'3 '794142C *+ 1' #477+ !:2'3B' "'3 :'3 *+1 :+794 !:2'3B' "'3 "/1;+897+ *+ :>2D3 4143/' "'31?)'7 *+ :'*/'3' !+/34 $3/*4 "'39' 3' 1' !+'1 7'8/1 "'39' D7('7' *+ '8' !:2'3B' "'39' 1'11' *+1 '1' !:2'3B' #7/-:+748 !:2'3B' %'1*+1'7)4 4 7+57+8+39'9/;4 %'1;+7*+ *+1 '2/34 !:2'3B' %/11'(1'3)' !+/34 $3/*4 %/11'1(' *+1 1)47 !:2'3B' %/11'3:+;' *+ 1'8 7:)+8 !:2'3B' %/11'3:+;' *+ 148 '89/11+048 !:2'3B' %/11'77'8' !+/34 $3/*4 &'1'2+' 1' !+'1 !:2'3B' &:,7+ !:2'3B' " ! & " % % ' :3/)/5/48 3*'1:)+8 '948 D8/)48
62.
'79/)/5')/@3 ":5+7,/)/+
":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 '9+73' *+1 '254 '=24-4 :+(1' *+ :>2D3 :+794 47'1 :39' $2(7B' !4)/'3' *+1 43*'*4 !48'1 *+ 1' 7439+7' "'3 '794142C *+ 1' #477+ "'3 :'3 *+1 :+794 "'3 "/1;+897+ *+ :>2D3 "'31?)'7 *+ :'*/'3' "'39' 3' 1' !+'1 "'39' D7('7' *+ '8' "'39' 1'11' *+1 '1' #7/-:+748 %'1*+1'7)4 %'1;+7*+ *+1 '2/34 %/11'(1'3)' %/11'1(' *+1 1)47 %/11'3:+;' *+ 1'8 7:)+8 %/11'3:+;' *+ 148 '89/11+048 %/11'77'8' &'1'2+' 1' !+'1 &:,7+ " 74;/3)/' *+ :+1;'
64.
!5)2(*0A4
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65.
!(8:0*06(*0A4
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66.
!5)2(*0A4
!5)2(*0A4 !58*,4:(1, +, !58*,4:(1, +, !5)2(*0A4 ,=:8(41,8( 8,90+,4:, $(2+5 (*030,4:59 ,-;4*054,9 2;3459 658 %5:(2 ;1,8,9 65)2(*0A4 65)2(*0A4 B5 30.8(:5805 B5 B5 685-,958 ,4 B5 B5 3,458 3(>58 B5 ,+;*(*0A4 +, (B59 +, (B59 %5:(2 +, (*054(20+(+ 68,+5304(4:, )E90*( B5 B5 ,=:8(41,859 ;895 (*054(20+(+ @3,85 +, ,=:8(41,859 (9:0225 +, 5*;)C4 #,045 &40+5 (?(2022( #;3(4C( (?582( (88;,*59 /0*2(4( +, $,.;8( #;3(4C( /022;D<(8 2,3(40( 9*(B;,2( (88;,*59 96,2@> (88;,*59 8(02,9 #;3(4C( ;,49(4:( +, (8:59 #;3(4C( ;,8:, +,2 #,> (88;,*59 D4(<, #;3(4C( ;(8+0( +, (D4 ( #;3(4C( ;(8853E4 (88;,*59 0.;,8( +, (2(:8(<( (88;,*59 0451(8,9 #,045 &40+5 58459 2,3(40( ;,23( (88;,*59 ;,9( #;3(4C( )859 (88;,*59 8;,2( ( *;(+58 & % ! ' ?4(:58(- (88;,*59 ()(27;04:5 #;3(4C( (D4 (88;,*59 (302,4( 5253)0( 03,4( (88;,*59 ;40*06059 4+(2;*,9 (:59 E90*59
67.
!(8:0*06(*0A4
$;6,8-0*0, $;6,8-0*0, @3,85 +, @3,85 +, 9:()2,*030,4:59 !(85 54:8(:59 54:8(:59 ;8)(4( #,4:( 4,:( ,4 2,**054,9 +,+0*(+( ( +,+0*(+( ( <,/C*;259 ,9:()2,*030,4:59 *54 8,.09:8(+5 8,.09:8(+59 8,.09:8(+59 ( @3,85 +, 3,+0( (2 !(82(3,4:5 *;2:0<59 *;2:0<59 :;809359 /5:,2,859 (*:0<0+(+ B5 :5:(2,9 3;1,8,9 8,*0)59 +,*2(8(+( +, 4+(2;*C( /,8)E*,59 > 2,B5959 3(:80*;2(+59 B5 ,*54A30*( B5 B5 B5 B5 B5 )(8),*/59 B5 B5 B5 B5 (9:0225 +, 5*;)C4 (?(2022( (?582( /0*2(4( +, $,.;8( /022;D<(8 9*(B;,2( 96,2@> 8(02,9 ;,49(4:( +, (8:59 ;,8:, +,2 #,> D4(<, ;(8+0( +, (D4 ( ;(8853E4 0.;,8( +, (2(:8(<( 0451(8,9 58459 ;,23( ;,9( )859 8;,2( ( & & ' ' ?4(:58(- ()(27;04:5 (D4 (302,4( 03,4( !85<04*0( +, (D4
68.
!5)2(*0A4
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69.
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$;6,8-0*0, $;6,8-0*0, @3,85 +, @3,85 +, 9:()2,*030,4:59 !(85 54:8(:59 54:8(:59 ;8)(4( #,4:( 4,:( ,4 2,**054,9 +,+0*(+( ( +,+0*(+( ( <,/C*;259 ,9:()2,*030,4:59 *54 8,.09:8(+5 8,.09:8(+59 8,.09:8(+59 ( @3,85 +, 3,+0( (2 !(82(3,4:5 *;2:0<59 *;2:0<59 :;809359 /5:,2,859 (*:0<0+(+ B5 :5:(2,9 3;1,8,9 8,*0)59 +,*2(8(+( +, 4+(2;*C( /,8)E*,59 > 2,B5959 3(:80*;2(+59 B5 ,*54A30*( B5 B5 B5 B5 B5 )(8),*/59 B5 B5 B5 B5 A+(8 (/0.;,8( (8<( 04(8,9 56,8( ;60A4 (4*/( #,(2 (8352,15 (8:59 ,4.C)(8 54:0?A4 (<(9 +, $(4 ;(4 5(2,15 8*,8( !,(2 +, ,*,885 !,.(2(1(8 !58*;4( !5?5 2*A4 !;,4:, +, D4(<, !;,8:( +, $,.;8( ( ! ( % ! " ' ";,9(+( #;9 $()05:, $(4:( 2,4( $(4:0(.5 +, (2(:8(<( !85<04*0( +, (D4
70.
!5)2(*0A4
!5)2(*0A4 !58*,4:(1, +, !58*,4:(1, +, !5)2(*0A4 ,=:8(41,8( 8,90+,4:, $(2+5 (*030,4:59 ,-;4*054,9 2;3459 658 %5:(2 ;1,8,9 65)2(*0A4 65)2(*0A4 B5 30.8(:5805 B5 B5 685-,958 ,4 B5 B5 3,458 3(>58 B5 ,+;*(*0A4 +, (B59 +, (B59 %5:(2 +, (*054(20+(+ 68,+5304(4:, )E90*( B5 B5 ,=:8(41,859 ;895 (*054(20+(+ @3,85 +, ,=:8(41,859 $(4:0(.5 !54:54,9 8.,20( $(4:09:,)(4 +,2 !;,8:5 (88;,*59 $(4:5 %53D #;3(4C( $,.;8( +, 2( $0,88( (88;,*59 $02,9 8.,20( $580/;,2( +,2 ;(+(203(8 (88;,*59 %588, +,2 (365 #;3(4C( %588,)2(9*56,+85 (88;,*59 %588,+54103,45 8.,20( %588,6,85.02 (88;,*59 %588,9 5253)0( %588,9 +, 2)E4*/,? *;(+58 F),+( #;3(4C( '(2+,6,B(9 +, (D4 #;3(4C( '02*/,9 (88;,*59 '022(*(880225 (88;,*59 '022(4;,<( +, 2( #,04( (88;,*59 '022(4;,<( +,2 8?5)0965 (88;,*59 '022(8+536(8+5 (88;,*59 '022(8,9 59 *;(+58 '022(885+80.5 5 8,68,9,4:(:0<5 '022(:588,9 (88;,*59 ! # ! & " % % ' ;40*06059 4+(2;*,9 (:59 E90*59
71.
!(8:0*06(*0A4
$;6,8-0*0, $;6,8-0*0, @3,85 +, @3,85 +, 9:()2,*030,4:59 !(85 54:8(:59 54:8(:59 ;8)(4( #,4:( 4,:( ,4 2,**054,9 +,+0*(+( ( +,+0*(+( ( <,/C*;259 ,9:()2,*030,4:59 *54 8,.09:8(+5 8,.09:8(+59 8,.09:8(+59 ( @3,85 +, 3,+0( (2 !(82(3,4:5 *;2:0<59 *;2:0<59 :;809359 /5:,2,859 (*:0<0+(+ B5 :5:(2,9 3;1,8,9 8,*0)59 +,*2(8(+( +, 4+(2;*C( /,8)E*,59 > 2,B5959 3(:80*;2(+59 B5 ,*54A30*( B5 B5 B5 B5 B5 )(8),*/59 B5 B5 B5 B5 $(4:0(.5 !54:54,9 $(4:09:,)(4 +,2 !;,8:5 $(4:5 %53D $,.;8( +, 2( $0,88( $02,9 $580/;,2( +,2 ;(+(203(8 %588, +,2 (365 %588,)2(9*56,+85 %588,+54103,45 %588,6,85.02 %588,9 %588,9 +, 2)E4*/,? F),+( '(2+,6,B(9 +, (D4 '02*/,9 '022(*(880225 '022(4;,<( +, 2( #,04( '022(4;,<( +,2 8?5)0965 '022(8+536(8+5 '022(8,9 59 '022(885+80.5 '022(:588,9 ! # 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 -1,2 -1 -0,8 -0,6 -0,4 -0,2 0 0,2 0,4 0,6 0,8 1 1,2 !85<04*0( +, (D4
73.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 # ! 1'2+*' !+/34 $3/*4 1)':)B3 !+/34 $3/*4 1,'73'9+ !+/34 $3/*4 1,'73'9+04 !+/34 $3/*4 1-'774(4 1+2'3/' 1-'94)B3 !+/34 $3/*4 1.':7B3 *+ 1' #477+ !+/34 $3/*4 1.':7B3 +1 7'3*+ !+/34 $3/*4 12D).'7 !+/34 $3/*4 12'7-+3 !:2'3B' & $ $ 124-B' !+/34 $3/*4 E147' !+/34 $3/*4 14>'/3' !+/34 $3/*4 15'3*+/7+ !+/34 $3/*4 39+6:+7' 7'8/1 E7).+> !+/34 $3/*4 7)./*43' !+/34 $3/*4 7*'1+8 '7'-:'= 7+3'8 !+/34 $3/*4 77/'9+ !+/34 $3/*4 9'0'9+ !+/34 $3/*4 +3'*'1/* !+/34 $3/*4 +3'.';B8 !+/34 $3/*4 +3'1':7B' !+/34 $3/*4 +3'12D*+3' !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
74.
'79/)/5')/@3
":5+7,/)/+ ":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 # ! 1'2+*' 1)':)B3 1,'73'9+ 1,'73'9+04 1-'774(4 1-'94)B3 1.':7B3 *+ 1' #477+ 1.':7B3 +1 7'3*+ 12D).'7 12'7-+3 ! & & # ' 124-B' E147' 14>'/3' 15'3*+/7+ 39+6:+7' E7).+> 7)./*43' 7*'1+8 7+3'8 77/'9+ 9'0'9+ +3'*'1/* +3'.';B8 +3'1':7B' +3'12D*+3' 74;/3)/' *+ D1'-'
75.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 +3'2'7-48' !+/34 $3/*4 +3'24)'77' !+/34 $3/*4 +3'40D3 !+/34 $3/*4 +3'77'(D !:2'3B' 47-+ 1 !+/34 $3/*4 :7-4 1 !+/34 $3/*4 '25/1148 !+/34 $3/*4 '3/11'8 *+ )+/9:34 !+/34 $3/*4 '3/11'8 *+ 1('/*' !+/34 $3/*4 'A+9+ 1' !+'1 '77:+)48 '77'97')' !:2'3B' '79'0/2' !+/34 $3/*4 D79'2' !+/34 $3/*4 '8'(+72+0' !+/34 $3/*4 '8'7'(43+1' !+/34 $3/*4 & % ! ' '8'7+8 !+/34 $3/*4 4B3 !+/34 $3/*4 412+3'7 !+/34 $3/*4 42'7+8 !+/34 $3/*4 @25+9' !+/34 $3/*4 479+8 *+ 1' 7439+7' !+/34 $3/*4 :+;'8 '0'8 !:2'3B' :+;'8 *+ "'3 '7)48 !:2'3B' :+;'8 *+1 +)+774 41/;/' ?9'7 !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
76.
'79/)/5')/@3
":5+7,/)/+ ":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 +3'2'7-48' +3'24)'77' +3'40D3 +3'77'(D 47-+ 1 :7-4 1 '25/1148 '3/11'8 *+ )+/9:34 '3/11'8 *+ 1('/*' 'A+9+ 1' !+'1 '77'97')' '79'0/2' D79'2' '8'(+72+0' '8'7'(43+1' & & ' ' '8'7+8 4B3 412+3'7 42'7+8 @25+9' 479+8 *+ 1' 7439+7' :+;'8 '0'8 :+;'8 *+ "'3 '7)48 :+;'8 *+1 +)+774 ?9'7 74;/3)/' *+ D1'-'
77.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 89+543' !+/34 $3/*4 '7'0D3 !+/34 $3/*4 7/-/1/'3' !+/34 $3/*4 :+3-/741' !+/34 $3/*4 :+39+ *+ /+*7' !+/34 $3/*4 ':)B3 !+/34 $3/*4 +3'1-:')/1 1+2'3/' :'74 !+/34 $3/*4 :2/11'*+74 !+/34 $3/*4 -:'1+0' !:2'3B' 89D3 !+/34 $3/*4 >3'9+ !+/34 $3/*4 /2+7' *+ B('7 !+/34 $3/*4 :(7/6:+ !+/34 $3/*4 ?>)'7 !+/34 $3/*4 ').'7';/'=' 1+2'3/' D1'-' '77:+)48 '3/1;' !+/34 $3/*4 '7(+11' !+/34 $3/*4 /0'8 !+/34 $3/*4 4)1/3+04 !+/34 $3/*4 411/3' !+/34 $3/*4 43*' '77:+)48 439+0'6:+ !+/34 $3/*4 +70' !+/34 $3/*4 :3/)/5/48 3*'1:)+8 '948 D8/)48
78.
'79/)/5')/@3
":5+7,/)/+ ":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 89+543' '7'0D3 7/-/1/'3' :+3-/741' :+39+ *+ /+*7' ':)B3 +3'1-:')/1 :'74 :2/11'*+74 -:'1+0' ! ( % ! " ' 89D3 >3'9+ /2+7' *+ B('7 :(7/6:+ ?>)'7 ').'7';/'=' D1'-' '3/1;' '7(+11' /0'8 4)1/3+04 411/3' 43*' 439+0'6:+ +70' 74;/3)/' *+ D1'-'
79.
4(1')/@3
4(1')/@3 47)+39'0+ *+ 47)+39'0+ *+ 4(1')/@3 +<97'30+7' 7+8/*+39+ "'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 #49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 #49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 0C3 !+/34 $3/*4 '7':9' 4 7+57+8+39'9/;4 +7/'3' !+/34 $3/*4 />'77' !+/34 $3/*4 :0+77' 4 7+57+8+39'9/;4 !/3)@3 *+ 1' %/)947/' 7-+39/3' !/4-47*4 !+/34 $3/*4 !43*' !+/34 $3/*4 "'1'7+8 !+/34 $3/*4 "'='143-' !+/34 $3/*4 "+*+11' !+/34 $3/*4 "/+77' *+ &+-:'8 !+/34 $3/*4 #+(' !+/34 $3/*4 #414< !+/34 $3/*4 #477+241/348 !+/34 $3/*4 #4774< 1+2'3/' #49'1D3 !+/34 $3/*4 %'11+ *+ (*'1'0B8 !+/34 $3/*4 %C1+> D1'-' !:2'3B' %/11'3:+;' *+ 1-'/*'8 !+/34 $3/*4 %/11'3:+;' *+ #'5/' !+/34 $3/*4 %/11'3:+;' *+1 !48'7/4 !+/34 $3/*4 %/11'3:+;' *+1 #7'(:)4 !+/34 $3/*4 %/A:+1' !+/34 $3/*4 &:36:+7' !+/34 $3/*4 " ! & " % % ' :3/)/5/48 3*'1:)+8 '948 D8/)48
80.
'79/)/5')/@3
":5+7,/)/+ ":5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 '74 4397'948 4397'948 :7('3' !+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 '71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 0C3 '7':9' +7/'3' />'77' :0+77' !/3)@3 *+ 1' %/)947/' !/4-47*4 !43*' "'1'7+8 "'='143-' "+*+11' "/+77' *+ &+-:'8 #+(' #414< #477+241/348 #4774< #49'1D3 %'11+ *+ (*'1'0B8 %C1+> D1'-' %/11'3:+;' *+ 1-'/*'8 %/11'3:+;' *+ #'5/' %/11'3:+;' *+1 !48'7/4 %/11'3:+;' *+1 #7'(:)4 %/A:+1' &:36:+7' " 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 -1,2 -1 -0,8 -0,6 -0,4 -0,2 0 0,2 0,4 0,6 0,8 1 1,2 74;/3)/' *+ D1'-'
82.
!4(1')/@3
!4(1')/@3 !47)+39'0+ *+ !47)+39'0+ *+ !4(1')/@3 +<97'30+7' 7+8/*+39+ #'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 $49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 $49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 ! ! " -:'*:1)+ "+/34 %3/*4 1'3B8 9'1/' 1('/*' *+1 10'7',+ ":2'3B' 1)'1D *+ :'*'B7' '77:+)48 1)'1D *+1 "B4 ":2'3B' 1)41+' *+1 "B4 7'3)/' 1-'(' ' ":2'3B' 1-D2/9'8 ":2'3B' 12'*C3 *+ 1' !1'9' "+/34 %3/*4 12+38/11' ":2'3B' 7'.'1 '77:+)48 >3'1)D>'7 ":2'3B' >3'1)@11'7 ":2'3B' '*41'948' "+/34 %3/*4 +3')'>@3 ":2'3B' & $ $ 411:1148 *+ 1' /9')/@3 ":2'3B' 472:048 ":2'3B' 7+3+8 ":2'3B' :7-:/1148 ":2'3B' '(+>'8 *+ #'3 :'3 '8 '77:+)48 '2'8 4142(/' '25'3' ' ":2'3B' '39/11'3' ":2'3B' 'A'*' "48'1 ":2'3B' '7243' '77:+)48 :3/)/5/48 3*'1:)+8 '948 D8/)48
83.
!'79/)/5')/@3
#:5+7,/)/+ #:5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 !'74 4397'948 4397'948 :7('3' "+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 !'71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 ! ! -:'*:1)+ 1'3B8 1('/*' *+1 10'7',+ 1)'1D *+ :'*'B7' 1)'1D *+1 "B4 1)41+' *+1 "B4 1-'(' ' 1-D2/9'8 12'*C3 *+ 1' !1'9' 12+38/11' 7'.'1 >3'1)D>'7 >3'1)@11'7 '*41'948' +3')'>@3 ! & & # ' 411:1148 *+ 1' /9')/@3 472:048 7+3+8 :7-:/1148 '(+>'8 *+ #'3 :'3 '8 '2'8 '25'3' ' '39/11'3' 'A'*' "48'1 '7243' !74;/3)/' *+ #+;/11'
84.
!4(1')/@3
!4(1')/@3 !47)+39'0+ *+ !47)+39'0+ *+ !4(1')/@3 +<97'30+7' 7+8/*+39+ #'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 $49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 $49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 '77/@3 *+ 148 C85+*+8 ":2'3B' '8'7/).+ '77:+)48 '89/1(1'3)4 *+ 148 774=48 ":2'3B' '89/11+0' *+ :>2D3 ":2'3B' '89/11+0' *+ 1' :+89' 41/;/' '89/11+0' *+1 '254 '77:+)48 '89/114 *+ 1'8 :'7*'8 1 41/;/' '>'11' *+ 1' #/+77' ":2'3B' 4389'39/3' ":2'3B' 47/' *+1 "B4 41/;/' 47/5+ ":2'3B' 4743/1 1 '77:+)48 477'1+8 48 ":2'3B' :+7;4 *+ #+;/11' 1 41/;/' 48 +72'3'8 '77:+)48 & % ! ' :3/)/5/48 3*'1:)+8 '948 D8/)48
85.
!'79/)/5')/@3
#:5+7,/)/+ #:5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 !'74 4397'948 4397'948 :7('3' "+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 !'71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 '77/@3 *+ 148 C85+*+8 '8'7/).+ '89/1(1'3)4 *+ 148 774=48 '89/11+0' *+ :>2D3 '89/11+0' *+ 1' :+89' '89/11+0' *+1 '254 '89/114 *+ 1'8 :'7*'8 1 '>'11' *+ 1' #/+77' 4389'39/3' 47/' *+1 "B4 47/5+ 4743/1 1 477'1+8 48 :+7;4 *+ #+;/11' 1 48 +72'3'8 & & ' ' !74;/3)/' *+ #+;/11'
86.
!4(1')/@3
!4(1')/@3 !47)+39'0+ *+ !47)+39'0+ *+ !4(1')/@3 +<97'30+7' 7+8/*+39+ #'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 $49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 $49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 E)/0' ":2'3B' 85'79/3'8 "+/34 %3/*4 89+5' '77:+)48 :+39+8 *+ 3*'1:)B' '77:+)48 '774(4 1 7'8/1 +1;+8 "+/34 %3/*4 +7+3' 72+3/' /1+3' ":2'3B' /3+8 '77:+)48 :'*'1)'3'1 ":2'3B' :/11+3' ":2'3B' +77+7' '77:+)48 :C;'7 *+1 10'7',+ 41/;/' 81' '=47 ":2'3B' '39+0:+1' ' ":2'3B' :3/)/5/48 3*'1:)+8 '948 D8/)48
87.
!'79/)/5')/@3
#:5+7,/)/+ #:5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 !'74 4397'948 4397'948 :7('3' "+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 !'71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 E)/0' 85'79/3'8 89+5' :+39+8 *+ 3*'1:)B' '774(4 1 +1;+8 +7+3' /1+3' /3+8 :'*'1)'3'1 :/11+3' +77+7' :C;'7 *+1 10'7',+ 81' '=47 '39+0:+1' ' ! ( % ! " ' !74;/3)/' *+ #+;/11'
88.
!4(1')/@3
!4(1')/@3 !47)+39'0+ *+ !47)+39'0+ *+ !4(1')/@3 +<97'30+7' 7+8/*+39+ #'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 $49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 $49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 +(7/0' ":2'3B' 47' *+ 89+5' "+/34 %3/*4 47' *+1 "B4 ":2'3B' :/8/'3' ' ":2'3B' '*74A4 1 4 7+57+8+39'9/;4 '/7+3' *+1 1)47 '77:+)48 '/7+3' *+1 10'7',+ ):'*47 '7).+3' ":2'3B' '7/3'1+*' "+/34 %3/*4 '79B3 *+ 1' '7' ":2'3B' 41'7+8 48 ":2'3B' 439+11'34 ":2'3B' 47@3 *+ 1' 7439+7' '77:+)48 ';'8 *+ 1' 43)+5)/@3 '8 :1-'7/' 1/;'7+8 ":2'3B' 8:3' ":2'3B' !'1')/48 = &/11',7'3)' 48 '77:+)48 !'142'7+8 *+1 "B4 "+/34 %3/*4 !'7'*'8 ":2'3B' !+*7+7' ":2'3B' !+*7484 1 ":2'3B' !+A',147 ":2'3B' !/1'8 ":2'3B' !7:3' "+/34 %3/*4 !:+(1' *+ '>'11' ' ":2'3B' !:+(1' *+ 148 3,'39+8 ' ":2'3B' !:+(1' *+1 "B4 ' 41/;/' "+'1 *+ 1' '7' 1 !479:-'1 "/3)43'*' ' ":2'3B' "4*' *+ 3*'1:)B' ' ":2'3B' "436:/114 1 ":2'3B' ":(/4 1 "+/34 %3/*4 #'19+7'8 ":2'3B' #'3 :'3 *+ >3'1,'7').+ "+5 42/3/)'3' #'3 /)41D8 *+1 !:+794 !+7? :3/)/5/48 3*'1:)+8 '948 D8/)48
89.
!'79/)/5')/@3
#:5+7,/)/+ #:5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 !'74 4397'948 4397'948 :7('3' "+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 !'71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 +(7/0' 47' *+ 89+5' 47' *+1 "B4 :/8/'3' ' '*74A4 1 '/7+3' *+1 1)47 '/7+3' *+1 10'7',+ '7).+3' '7/3'1+*' '79B3 *+ 1' '7' 41'7+8 48 439+11'34 47@3 *+ 1' 7439+7' ';'8 *+ 1' 43)+5)/@3 '8 1/;'7+8 8:3' !'1')/48 = &/11',7'3)' 48 !'142'7+8 *+1 "B4 !'7'*'8 !+*7+7' !+*7484 1 !+A',147 !/1'8 !7:3' !:+(1' *+ '>'11' ' !:+(1' *+ 148 3,'39+8 ' !:+(1' *+1 "B4 ' "+'1 *+ 1' '7' 1 "/3)43'*' ' "4*' *+ 3*'1:)B' ' "436:/114 1 ":(/4 1 #'19+7'8 #'3 :'3 *+ >3'1,'7').+ #'3 /)41D8 *+1 !:+794 !74;/3)/' *+ #+;/11'
90.
!4(1')/@3
!4(1')/@3 !47)+39'0+ *+ !47)+39'0+ *+ !4(1')/@3 +<97'30+7' 7+8/*+39+ #'1*4 ')/2/+3948 +,:3)/43+8 1:2348 547 $49'1 :0+7+8 54(1')/@3 54(1')/@3 A4 2/-7'947/4 A4 A4 574,+847 +3 A4 A4 2+347 2'=47 A4 +*:)')/@3 *+ 'A48 *+ 'A48 $49'1 *+ ')/43'1/*'* 57+*42/3'39+ (D8/)' A4 A4 +<97'30+748 :784 ')/43'1/*'* ?2+74 *+ +<97'30+748 #'31?)'7 1' '=47 ":2'3B' #'39/543)+ !479:-'1 #':)+04 1 ":2'3B' #+;/11' '77:+)48 $4)/3' ":2'3B' $42'7+8 7'3)/' %2(7+9+ ":2'3B' %97+7' ":2'3B' &'1+3)/3' *+ 1' 43)+5)/@3 "+/34 %3/*4 &/11'2'37/6:+ *+ 1' 43*+8' ":2'3B' &/11'3:+;' *+ #'3 :'3 "+/34 %3/*4 &/11'3:+;' *+1 7/8)'1 ":2'3B' &/11'3:+;' *+1 "B4 = /3'8 ":2'3B' &/11';+7*+ *+1 "B4 ":2'3B' &/84 *+1 1)47 1 '77:+)48 " ! & " % % ' :3/)/5/48 3*'1:)+8 '948 D8/)48
91.
!'79/)/5')/@3
#:5+7,/)/+ #:5+7,/)/+ ?2+74 *+ ?2+74 *+ 89'(1+)/2/+3948 !'74 4397'948 4397'948 :7('3' "+39' 3+9' +3 1+))/43+8 *+*/)'*' ' *+*/)'*' ' ;+.B):148 +89'(1+)/2/+3948 )43 7+-/897'*4 7+-/897'*48 7+-/897'*48 ' ?2+74 *+ 2+*/' '1 !'71'2+394 ):19/;48 ):19/;48 9:7/8248 .49+1+748 ')9/;/*'* A4 949'1+8 2:0+7+8 7+)/(48 *+)1'7'*' *+ 3*'1:)B' .+7(D)+48 = 1+A4848 2'97/):1'*48 A4 +)43@2/)' A4 A4 A4 A4 A4 ('7(+).48 A4 A4 A4 A4 #'31?)'7 1' '=47 #'39/543)+ #':)+04 1 #+;/11' $4)/3' $42'7+8 %2(7+9+ %97+7' &'1+3)/3' *+ 1' 43)+5)/@3 &/11'2'37/6:+ *+ 1' 43*+8' &/11'3:+;' *+ #'3 :'3 &/11'3:+;' *+1 7/8)'1 &/11'3:+;' *+1 "B4 = /3'8 &/11';+7*+ *+1 "B4 &/84 *+1 1)47 1 " 100 95 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 0 -1,2 -1 -0,8 -0,6 -0,4 -0,2 0 0,2 0,4 0,6 0,8 1 1,2 !74;/3)/' *+ #+;/11'
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