Page 105 - <4556B8C5B0C5C1F85F3232C8A32834BFF9295FC0FCC3BC2E706466>
P. 105

103
                                                                                                       EV  102  | 103
                                                                                                       EV  102  |






               +PSFEP IGSRSQMG SYXTYX MR EHZERGIH IGSRSQMIW        PS[IV  -R .ETER  IQMWWMSRW HVSTTIH F]
               VIGSZIVIH XS TVI TERHIQMG PIZIPW MR              MR      ERH VIFSYRHIH F] PIWW XLER
               FYX '3  IQMWWMSRW VIFSYRHIH PIWW WLEVTP]    MR       %GVSWW EHZERGIH IGSRSQMIW SZIVEPP
               WMKREPPMRK E QSVI TIVQERIRX XVENIGXSV] SJ   WXVYGXYVEP GLERKIW WYGL EW MRGVIEWIH YTXEOI SJ
               WXVYGXYVEP  HIGPMRI   '3   IQMWWMSRW  MR  XLI   VIRI[EFPIW  IPIGXVMJMGEXMSR ERH IRIVK] IJJMGMIRG]
               9RMXIH 7XEXIW MR      [IVI   FIPS[ XLIMV   MQTVSZIQIRXW EZSMHIH ER EHHMXMSREP     1X SJ
                    PIZIP  -R XLI )YVSTIER 9RMSR  XLI] [IVI   '3  IQMWWMSRW MR      GSQTEVIH [MXL



               3HU FDSLWD &2  HPLVVLRQV LQ &KLQD QRZ H[FHHG WKH DYHUDJH LQ DGYDQFHG

               HFRQRPLHV


               3R E TIV GETMXE FEWMW  '3  IQMWWMSRW MR EHZERGIH   TIV 97(       SJ +(4  'LMRE RSRIXLIPIWW LEW
               IGSRSQMIW LEZI JEPPIR XS     XSRRIW SR EZIVEKI   XLI LMKLIWX IQMWWMSRW MRXIRWMX] SJ +(4 EQSRK
               ERH EVI RS[ FIPS[ XLI EZIVEKI SJ     XSRRIW MR   QENSV IGSRSQMIW  8LMW MW E VIWYPX SJ XLI HSQMRERX
               'LMRE  ,S[IZIV  XLI SZIVEPP EZIVEKI JSV EHZERGIH   VSPI SJ GSEP MR 'LMREޝW IRIVK] QM\      GSQTEVIH
               IGSRSQMIW QEWOW WMKRMJMGERX HMJJIVIRGIW  TIV   [MXL XLI KPSFEP EZIVEKI SJ      ERH XLI LMKL
               GETMXE IQMWWMSRW EZIVEKI    XSRRIW MR XLI 9RMXIH   WLEVI SJ MRHYWXV] MR 'LMREޝW +(4      GSQTEVIH
               7XEXIW    XSRRIW MR XLI )YVSTIER 9RMSR  ERH       [MXL XLI KPSFEP EZIVEKI SJ       8LI IQMWWMSRW
               XSRRIW MR 1I\MGS                          MRXIRWMX] SJ 'LMREޝW +(4 LEW RSRIXLIPIWW
                                                         HIGPMRIH F]     WMRGI XLI ]IEV
                                                         -R EHZERGIH IGSRSQMIW  XLI IQMWWMSRW MRXIRWMX]
                                                         SJ +(4 XMGOIH YT WPMKLXP] MR      FYX RSRIXLIPIWW
                                                         VIQEMRIH SR E HIGPMRMRK XVIRH  8LI 9RMXIH 7XEXIW
                                                         ERH XLI )YVSTIER 9RMSR LEZI EZIVEKIH ER ERRYEP
                                                         MQTVSZIQIRX VEXI SJ EVSYRH    WMRGI





               ;MXL FSXL KPSFEP '3  IQMWWMSRW ERH +(4 VMWMRK
               F] EVSYRH    MR       XLI EZIVEKI IQMWWMSRW
               MRXIRWMX] SJ KPSFEP IGSRSQMG SYXTYX WXE]IH
               GSRWXERX EX      XSRRIW SJ '3  TIV 97(
               8LI IQMWWMSRW MRXIRWMX] SJ +(4 HIGPMRIH MR 'LMRE
               JEPPMRK F] QSVI XLER    XS      XSRRIW SJ '3





               7KH MXPS LQ IRVVLO IXHO XVH SXVKHV JUHHQKRXVH JDV HPLVVLRQV WR D QHZ SHDN

               8LI VMWI MR IRIVK] VIPEXIH '3  IQMWWMSRW TYWLIH   SZIVEPP KVIIRLSYWI KEW IQMWWMSRW JVSQ IRIVK] XS
   100   101   102   103   104   105   106   107   108   109   110