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7KDOHU. 7KDOHU. 6R PD 3UHLVOLVWH /DQGX)RUVWWHFKQLN /DGHU. *UXQGDXVVWDWWXQJ ¼ 0RWRU =\OLQGHU<DQPDU0RWRU ZDVVHUJHNKOW .: 36 EHL 8PLQ NPK $QWULHE K\GURVWDWLVFKHU)DKUDQWULHE PLWD XWRPDWLYHU 6WHXHUXQJXQG0XOWLIXQNWLRQVKHEHO VWXILJ P LW,QFK3HGDO *HVFKZLQGLJNHLW VFKQHOOODQJVDP DXI-R\VWLFN%HUHLWXQJ $6 0DVFK LQHQEUHLWHFD PWU +|K H )HVWVWHOOEUHPVH (=76U\LWQRHOLKPXQHHGPEUHNHHUUIOOHXVELQWUVHHNXPLWQLHRVUGQXHHQ UD'JPX1PIH.LFWDK 6UDGFQ7DKLLVQSZFZSLPKIHXHOPQOQHNV$WDWLHRXXOQVIOXIDXQOQKJOHGUXD5QX5JIDGlVH5WGHUHLFE+UKHZHWLXELUPQHNJQHHVQFXZKGQHDGFQKL6VVHFHKQOHN9HURQ$UX)VXXIQQGNKWU5LXRQQFJ N$Z6UElWUHUDWLVW\HKEQGVHUDSUXH.OULLUNSHSFIVDFUK.DUOWHHOWXUU]LVPWH-X6RHW\HUVXXWQLHFJUNNXUHgQLGVO:YRDUVQVHHPULW +\GUDXOLN .RPELNKOHUYROOK\GUDXOLVFKH.QLFNSHQGHOOHQNXQJ+\GUDXOLNVFKXW]VFKOlXFKH )DKUHUVWDQG 0RWRUKDXEHQDFKKLQWHQNLSSEDU/HQNVlXOHYHUVWHOOEDU PLW%HWULHEVVWXQGHQ]lKOHU.UDIWVWRIIDQ]HLJH )DKUHUVLW]PLW 6LFKHUKHLWVJXUW )DKUHUVFKXW]GDFKXQG)DKUHUUFNKDOWHV\VWHPQDFKDNWXHOOHU0DVFKLQHQULFKWOLQLH =XEHK|U /(' $UEHLWVVFKHLQZHUIHU [KLQWHQXQG[YRUQHREHQDXI'DFKPRQWLHUW&( $EQDKPH'LHVHO XQG+\GUDXOLNWDQN MHZHLOV OWU%DWWHULHKDXSWVFKDOWHU+\GUDXOLVFKH9HUULHJHOXQJGHU$QEDXJHUlWH 7KDOHU$XIQKDPH EHU'UHLZHJHKDKQ 6RQGHUDXVVWDWWXQJ %H]HLFKQXQJ $OOH3UHLVH]]JOJHV0Z6W ¼ +\GUDXOLVFKH9HUULHJHOXQJ$QEDX JHUlWH 7K DOHU$XIQDKPH EHU6WHXHUJHUlW (XURDXIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU6WHXHUJHUlW ¼ ¼ (XURDXIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ ¼ 606$XIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU6WHXHUJHUlW ¼ 606$XIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ ¼ ¼ $$XXIIQQDDKKPPHHDDQQGGHHUUHHUU))DDEEUULLNNDDWWHHKP\HGFUKDDXQOLLVVFFKKH 59HUFUNLVHSJUHDOFXKQHJ EHU6WHXHUJHUlW 5FNVSUDFKH ¼ ¼ $XIQDKPHDQGHUHU)DEULNDWHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ 5FNVSUDFKH ¼ 6WHXHUNUHLVK\GUDXOLVFKSURSRUWLRQDOH6WHXHUXQJPLWIDFKHU5DVWH ¼ ¼ =XV6WHXHUNUHLVGRSSHOWZLUNHQGYRUQH 6WHXHUNUHLV =\OLQGHUVFKLHEHUHLQVHLWLJ5DVWHQGPHFKDQLVFK %DWWHULHKDXSWVFKDOWHUQDFKDXHQ YHUOHJW .LSSDQVFKOVVHKLQWHQGRSSHOWZLUNHQGEHU7$E]ZHLJ =\OLQGHUVFKLHEHU 'UXFNORVHU5FNODXI'1 ¼ =DKQUDGSXPSHFFP FDOWU ¼ ¼ 6LFKHUKHLWVSDNHW [(OHNWURPDJQHWYHQWLOVWURPORVJHVFKORVVHQ ¼ ¼ 0XOWLIXQNWLRQVOHQNVlXOHPLW7HPS XQG'LHVHODQ]HLJHVRZLH'UHK]DKOPHVVHU ¼ 6WUDHQWDXJOLFKH%HOHXFKWXQJ 679=2 1XULQ9HUELQGXQJPLW0XOWLIXQNWLRQVOHQNVlXOH ¼ 7h9*XWDFKWHQIU%HWULHEVHUODXEQLV $%(QXULQ9HUELQGXQJ 6W9=2 5XQGXPOHXFKWH DEQHKPEDU ¼ 6WHFNGRVHKLQWHQ3ROLJ QXULQ9HUELQGXQJPLW679=2 ¼ ]XVlW]OLFKHU/('$UEHLWVVFKHLQZHUIHUDXIGHP$UP ¼ ¼ ]XVlW]OLFKHU/('$UEHLWVVFKHLQZHUIHUKLQWHQDXI)REV5REV%JHO ¼ %UHLWUHLIHQ [$6 0DVFKLQHQEUHLWHFDPWU0DVFKLQHQK|KHPWU %UHLWUHLIHQ[$6 0DVFKLQHQEUHLWHPWU0DVFKLQHQK|KHPWU ,QGXVWULHSURILO[6.' 0DVFKLQHQEUHLWHFDPWU0DVFKLQHQK|K HPWU ¼ ¼ $65HLIHQ 0DVFKLQHQEUHLWH FDPWU0DVFKLQHQK|KHPWU %UHLWUHLIHQ$6 0DVFKLQHQEUHLWHPWU0DVFKLQHQK|KHPWU ¼ :DVVHUIOOXQJ9RUGHUDFKVH6WDQGDUGUHLIHQVFKPDO ¼ ¼ :DVVHUIOOXQJ+LQWHUDFKVH6WDQGDUGUHLIHQVFKPDO ¼ :DVVHUIOOXQJ9RUGHUDFKVH %UHLWUHLIHQEUHLW ¼ :8QDDVEVKHlUIQJOOLXJQHJ*+HLVQFWKHUZDLFQKGVLJHN%HULWHVLUWUHHJLHIHOXQQJEU +HLDWQG,QFKHOHNWULVFKVFKDOWEDU ¼ ¼ ¼ ¼ =XVDW]JHZLFKWKLQWHQ NJ ¼ ¼ =XVDW]JHZLFKWHKLQWHQ MHNJ =XVDW]JHZLFKWHKLQWHQ MHNJ $EVFKOHSSYRUULFKWXQJ QXULQ9HUELQGXQJPLW*HZLFKWP|JOLFK .XJHONRSI$QKlQJHNXSSOXQJ QXULQ9HUELQGXQJPLW$EVFKOHSSYRUULFKWXQJ P|JOLFK 5RSV%JHODOV(7;;. ¼ 5RSV)RSV'DFKK\GUDXOLVFKDEVHQNEDU XP FP ¼ ¼ 0RWRUYRUZlUPXQJ9 ¼ ¼ 0RWRUVFKXW]ZDQQH ¼ 6RQGHUODFNLHUXQJ5$/HLQIDUE LJ ]XVlW]OLFK:RFKHQ/LHIHU]HLW ¼ $EVFKOLHEDUHU7DQNGHFNHO ¼ $6WUDPQOGHDKUHGQVVLDW]W]PILWU6)LWD]KKUHHLU]VXLQW]JH ¼ ¼ ¼ 6FKQHHNHWWHQYRUEHUHLWXQJYRUQH RKQH6FKQHHNHWWHQ ¼ .DELQH6WDQGDUG PLW+HL]XQJIU[[. ¼ (UVDW]WHLOOLVWH ¼ ¼ (OHNWULVFKH'LHVHOKHL]XQJ9 /DGHU3DOHWWHQYHUODGXQJ .KOHUJULOODXV0HWDOO )UDFKWNRVWHQ
7KDOHU. 7KDOHU. 'DWHQEODWW +XENUDIW NJ .LSSODVW6FKDXIHO +XEJHUVWKRUL]RQWDO 0DVFKLQHJHUDGH NJ 0DVFKLQHJHNQLFNW NJ .LSSODVW3DOHWWHQJDEHO FP +XEJHUVWKRUL]RQWDO 0DVFKLQHJHUDGH NJ 0DVFKLQHJHNQLFNW NJ $ *HVDPWOlQJHPLW6FKDXIHO PP % *HVDPWOlQJHRKQH6FKDXIHO PP & $FKVPLWWHELV6FKDXIHOERO]HQ PP ' 5DGDEVWDQG PP ( +HFNEHUKDQJ PP ) +|KHEHU)RSV5RSV'DFK PP - *HVDPWDUEHLWVK|KH PP . PD[+|KHDP6FKDXIHOGUHKSXQNW PP / hEHUODGHK|KH PP 0 PD[$XVVFKWWK|KH PP 1 5HLFKZHLWHEHL0 PP 2 6FKUIWLHIH PP 3 *HVDPWEUHLWH6WDQGDUG PP 4 6SXUEUHLWH PP 5 %UHLWHEHU%JHO PP 6 %RGHQIUHLKHLW PP 7 PD[5DGLXV PP 8 5DGLXVDP$XHQUDQG PP 9 ,QQHQUDGLXV PP : .QLFNZLQNHO ; 5FNUROOZLQNHOEHLPD[+XEK|KH < PD[$XVNLSSZLQNHO = 5FNUROOZLQNHODP%RGHQ 9RUGHUDFKVJHZLFKW NJ +LQWHUDFKVJHZLFKW NJ /HHUJHZLFKW NJ %HWULHEVJHZLFKW NJ 0DHEHL6WDQGDUGEHUHLIXQJ %HPDXQJlQGHUWVLFKMHQDFK$QEDXJHUlWXQG%HUHLIXQJ VRZLHWHFKQLVFKHU:HLWHUHQWZLFNOXQJ $OOH$QJDEHQXQWHU9RUEHKDOWbQGHUXQJHQLP=XJH GHUWHFKQLVFKHQ:HLWHUHQWZLFNOXQJYRUEHKDOWHQ
7KDOHU. 7KDOHU. 6R PD 3UHLVOLVWH /DQGX)RUVWWHFKQLN /DGHU. *UXQGDXVVWDWWXQJ ¼ 0RWRU =\OLQGHU<DQPDU0RWRUZDVVHUJHNKOW.: 36 EHL8PLQNPK$QWULHE K\GURVWDWLVFKHU)DKUDQWULHEPLWDXWRPDWLYHU6WHXHUXQJXQG0XOWLIXQNWLRQVKHEHOVWXILJPLW,QFK3HGDO*HVFKZLQGLJNHLW VFKQHOOODQJVDPDXI-R\VWLFN%HUHLIXQJ $6 0DVFKLQHQEUHLWHFD0WU+|KH )HVWVWHOOEUHPVH +\GUDXOLN 7URPPHOEUHPVHDXI.DUGDQZHOOHDXIDOOH5lGHUZLUNHQG $UEHLWVK\GUDXOLNFDOWU(LQKHEHOVWHXHUXQJPLW6FKZLPPVWHOOXQJDXIGHU+HEHQXQG6HQNHQ)XQNWLRQ6WHXHUNUHLVYRUQHPLW)DKUHUVWDQG =\OLQGHUIXQNWLRQ '1 7LSSIXQNWLRQXQG5DVWHEHLPHFKDQLVFKHU$XVIKUXQJ6WUDHQVSHUUHIU.UHX]VWHXHUXQJXQG=XEHK|U 6WHXHUNUHLVLQGHUPHFKDQLVFKHQ$XVIKUXQJ5LFKWXQJVZHFKVHO9RUXQG5FNZlUWVEHU.LSSVFKDOWHULP-R\VWLFNgO:DVVHU .RPELNKOHUYROOK\GUDXOLVFKH.QLFNSHQGHOOHQNXQJ+\GUDXOLNVFKXW]VFKOlXFKH 0RWRUKDXEHQDFKKLQWHQNLSSEDU/HQNVlXOHYHUVWHOOEDUPLW%HWULHEVVWXQGHQ]lKOHU.UDIWVWRIIDQ]HLJH)DKUHUVLW]PLW 6LFKHUKHLWVJXUW)DKUHUVFKXW]GDFKXQG)DKUHUUFNKDOWHV\VWHPQDFKDNWXHOOHU0DVFKLQHQULFKWOLQLH /('$UEHLWVVFKHLQZHUIHU[KLQWHQXQG[YRUQHREHQDXI'DFKPRQWLHUW&($EQDKPH'LHVHOXQG+\GUDXOLNWDQNMHZHLOV OWU%DWWHULHKDXSWVFKDOWHU+\GUDXOLVFKH9HUULHJHOXQJGHU$QEDXJHUlWH 7KDOHU$XIQDKPH EHU'UHLZHJHKDKQ6RQGHUDXVVWDWWXQJ %H]HLFKQXQJ $OOH3UHLVH]]JOJHV0Z6W +\GUDXOLVFKH9HUULHJHOXQJ$QEDXJHUlWH 7KDOHU$XIQDKPH EHU6WHXHUJHUlW ¼ (XURDXIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU6WHXHUJHUlW ¼ (XURDXIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ ¼ 606$XIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU6WHXHUJHUlW ¼ 606$XIQDKPHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ ¼ $XIQDKPHDQGHUHU)DEULNDWHPHFKDQLVFK 5FNVSUDFKH ¼ ¼ $XIQDKPHDQGHUHU)DEULNDWHK\GUDXOLVFKH9HUULHJHOXQJEHU6WHXHUJHUlW 5FNVSUDFKH ¼ ¼ $XIQDKPHDQGHUHU)DEULNDWHK\GUDXOLVFKH9HUULHJHOXQJEHU'UHLZHJHKDKQ 5FNVSUDFKH ¼ 6WHXHUNUHLVK\GUDXOLVFKSURSRUWLRQDOH6WHXHUXQJPLWIDFKHU5DVWH ¼ ¼ =XV6WHXHUNUHLVGRSSHOWZLUNHQGYRUQH 6WHXHUNUHLV=\OLQGHUVFKLHEHUHLQVHLWLJ5DVWHQGPHFKDQLVFK ¼ %DWWHULHKDXSWVFKDOWHUQDFKDXHQYHUHOJW ¼ .LSSDQVFKOVVHKLQWHQGRSSHOWZLUNHQGEHU7$E]ZHLJ =\OLQGHUVFKLHEHU 'UXFNORVHU5FNODXI'1 =DKQUDGSXPSHFFP FDOWU =DKQUDGSXPSHFFP FDOWU ¼ 9HUVWlUNWHU$QWULHE JU|HUHUgOPRWRU ¼ 6LFKHUKHLWVSDNHW [(OHNWURPDJQHWYHQWLOVWURPORVJHVFKORVVHQ ¼ 0XOWLIXQNWLRQVOHQNVlXOHPLW7HPSXQG'LHVHODQ]HLJHVRZLH'UHK]DKOPHVVHU ¼ 6WUDHQWDXJOLFKH%HOHXFKWXQJ 679=2 1XULQ9HUELQGXQJPLW0XOWLIXQNWLRQVOHQNVlXOH ¼ ¼ 7h9*XWDFKWHQIU%HWULHEVHUODXEQLV $%(QXULQ9HUELQGXQJ 6W9=2 ¼ 5XQGXPOHXFKWH DEQHKPEDU 6WHFNGRVHKLQWHQ3ROLJ QXULQ9HUELQGXQJPLW679=2 ¼ ]XVlW]OLFKHU/('$UEHLWVVFKHLQZHUIHUDXIGHP$UP ¼ ]XVlW]OLFKHU/('$UEHLWVVFKHLQZHUIHUKLQWHQDXI)REV5REV%JHO ¼ %UHLWUHLIHQ [$6 0DVFKLQHQEUHLWHFDPWU0DVFKLQHQK|KHPWU ¼ ¼ %UHLWUHLIHQ[$6 0DVFKLQHQEUHLWHPWU0DVFKLQHQK|KHPWU ¼ ,QGXVWULHSURILO[6.' 0DVFKLQHQEUHLWHFDPWU0DVFKLQHQK|KHPWU ¼ %UHLWUHLIHQ$6 0DVFKLQHQEUHLWHPWU0DVFKLQHQK|KHPWU ¼ ¼ :DVVHUIOOXQJ9RUGHUDFKVH6WDQGDUGUHLIHQVFKPDO ¼ ¼ :DVVHUIOOXQJ+LQWHUDFKVH6WDQGDUGUHLIHQVFKPDO ¼ :DVVHUIOOXQJ9RUGHUDFKVH%UHLWUHLIHQEUHLW :DVVHUIOOXQJ+LQWHUDFKVH%UHLWUHLIHQEUHLW 8QDEKlQJLJH*HVFKZLQGLJNHLWVUHJHOXQJ +DQG,QFKHOHNWULVFKVFKDOWEDU NPK9DULDQWH ¼ ¼ =XVDW]JHZLFKWKLQWHQ NJ ¼ ¼ =XVDW]JHZLFKWHKLQWHQ MHNJ ¼ ¼ =XVDW]JHZLFKWHKLQWHQ MHNJ $EVFKOHSSYRUULFKWXQJ QXULQ9HUELQGXQJPLW*HZLFKWP|JOLFK .XJHONRSI$QKlQJHNXSSOXQJ QXULQ9HUELQGXQJPLW$EVFKOHSSYRUULFKWXQJP|JOLFK 5RSV%JHODOV(7;;. ¼ 5RSV)RSV'DFKK\GUDXOLVFKDEVHQNEDUXPFP ¼ 0RWRUYRUZlUPXQJ9 ¼ 0RWRUVFKXW]ZDQQH ¼ 6RQGHUODFNLHUXQJ5$/HLQIDUELJ ]XVlW]OLFK:RFKHQ/LHIHU]HLW ¼ $EVFKOLHEDUHU7DQNGHFNHO 6WDQGDUGVLW]PLW6LW]KHL]XQJ ¼ $UPOHKHQVDW]IU)DKUHUVLW]H ¼ 6FKQHHNHWWHQYRUEHUHLWXQJYRUQH RKQH6FKQHHNHWWHQ ¼ .DELQH6WDQGDUWPLW+HL]XQJIU[[. ¼ (UVDW]WHLOOLVWH ¼ (OHNWULVFKH'LHVHOKHL]XQJ9 /DGHU3DOHWWHQYHUODGXQJ ¼ .KOHUJULOODXV0HWDOO ¼ ¼ )UDFKWNRVWHQ ¼ ¼
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