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7KDOHU=XEHK|U 7KDOHU.DELQH 6R PD $EELOGXQJHQ /DQGX)RUVWWHFKQLN
7KDOHU=XEHK|U 5DXPJHZLFKWH NJPñ 5DXPJHZLFKWYRQ/DGHJWHUQ %DXVWRIIH NJPñ %UHQQVWRIIH NJPñ NJPñ NJPñ (UGHIHXFKW NJPñ +RO]VFKHLWH NJPñ .LHV NJPñ 3UHVVNRKOH .DON 6WHLQNRKOH 0|UWHO 6DQGWURFNHQ NJPñ 6DQGIHXFKW NJPñ *HWUHLGH NJPñ NJPñ *HUVWH 'QJHUPLQHUDOLVFK *UDVVDPHQ +DUQVWRII NJPñ +DIHU NJPñ .DOL NJPñ 0DLV NJPñ .DON NJPñ 5DSV NJPñ .DONVWLFNVWRII NJPñ 5RJJHQ NJPñ 3KRVSKDW6XSHU NJPñ :HL]HQ NJPñ 3KRVSKDW7KRPDV NJPñ 6DOSHWHU NJPñ 6LODJH NJPñ 9ROOGQJHU *UDV$QZHONVLODJH NJPñ NJPñ .DUWRIIHOQ NJPñ NJPñ .OHH NJPñ NJPñ 0DLV NJPñ NJPñ 0DLV&&0 NJPñ 5RJJHQ NJPñ 'QJHURUJDQLVFK 5EHQEODWW NJPñ .RPSRVW 0LVWIULVFK 0LVWYHUURWWHW 7RUIJHSUHVVW 7RUIORVHWURFNHQ NJPñ 7RUIORVHIHXFKW NJPñ *UQIXWWHU :LHVHQJUDV.OHH NJPñ +DFNIUFKWH .DUWRIIHOQ NJPñ =XFNHUUEHQ NJPñ 6RQVWLJHV NJPñ $OWSDSLHU NJPñ NJPñ +DXVPOO NJPñ NJPñ +RO]KDFNVFKQLW]HO NJPñ 6WURKXQG+HX NJPñ 6FKQHHORFNHU NJPñ NJPñ 6FKQHHIHXFKW NJPñ 6WURKORVH NJPñ 6WURK4XDGHUEDOOHQ NJPñ 6WURK5XQGEDOOHQ +HXORVH +HXJHKlFNVHOW +HX4XDGHUEDOOHQ +HX5XQGEDOOHQ
3UHLVOLVWH 7KDOHU$UEHLWVJHUlWH 7KDOHU=XEHK|U $UWLNH O1U FD $ $ GHUYHUVFK $ $XIQDKPHQ $ OOH6FKDXIHOQNRQLVFK (LJHQ 3UHLV $$ .. 7$$ 77$ (XUR JHZLFKW 9ROXP 0H [ZFVOW 77 $$ 7KDOHU ¼ [ 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKDXIHO NJ 6FKD XIHO PWU [ 6FKDXIHOPWU NJ ¼ [ 6FKDXIHOPWU NJ ¼ [ [ [ [ 6FKDXIHOPWU NJ ¼ [ [ [ 6FKDXIHOPWU NJ ¼ [ [ [ [ 6FKDXIHOPWU NJ ¼ [ [ [ 66FFKKDDXXIIHHOOPPWWUU NJ ¼¼ [ [ [ 6FKDXIHOPWU NJ ¼ [ [ [ NJ [ 6FKDXIHO PWU ¼ [ NJ 6FKDXIHOPWU NJ ¼ [ 6FKDXIHOP LW.URNRDXIVDW]QLFKW]XU6LODJHHQWQDKPHJHHLJQHW 6FKDXIHO PWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ 6FKDXIHOPWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ [ 6FKDXIHOPWUPLW.URNRDXIVDW] =\OLQGHU NJ ¼¼¼ [ [ [ [ 66FFKKDDXXIIHHOOPPWWUUPPLLWW..UURRNNRRDDXXIIVVDDWW]] ==\\OOLLQQGGHHUU NJ ¼ [ [ [ [ 6FKDXIHOPWUPLW.URNRDXIVDW] =\OLQGHU NJ [ NJ [ [ [ [ [ [ 6FKDX IHOPWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ 6FKDXIHOPWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ 6FKDXIHOPWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ 6FKDXIHO PWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ 6FKDXIHOPWUPLW.URNRDXIVDW]=\OLQGHU NJ ¼ [ [ /HLFKWJXW*URUDXP PWU NJ ¼¼¼ [ //HHLLFFKKWWJJXXWW**UURRUUDDXXPPPPWWUU NJ NJ [ [ [ /HLFKWJXW*URUDXPPWU NJ ¼ [ [ [ [ /HLFKWJXW*URUDXPPWU NJ ¼ [ [ [ [ 6R PD /HLFKWJXW*URUDXPPWU NJ ¼ [ [ [ /DQGX)RUVWWHFKQLN /HLFKWJXW*URUDXPPWU NJ ¼ [ [ [ NJ ¼ [ /HLFKWJXW*URUDXPPWU NJ ¼¼ /HLFKWJXW*URUDXPPWU NJ ¼ //HHLLFFKKWWJJXXWW**UURRUUDDXXPP PPWWUU NJ
$UWLNHO1U FD $ GHUYHUVFK (LJHQ 3UHLV $ $XIQDKPHQ $OOH6FKDXIHOQNRQLVFK JHZLFKW H[FO 7$ $ 9ROXP 0ZVW $ . $ 7$ 7$ 7KDOHU $ . 7$ 7 (XUR 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKDXIHO ,,QQGGXXVVWWUULLHHVVFFKKDDXXIIHHOO PPWWUU55XXQQGG NJ ¼¼ NJ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ ,QGXVWULHVFKDXIHOPWU5XQG NJ ¼ [ ,,QQGGXXVVWWUULLHHVVFFKKDDXXIIHHOO PPWWUU55XXQQGG NJ ¼¼ [ ,QGXVWULHVFKDXIHO PWU5XQGPLW(UG]lKQHQ NJ ¼ NJ [ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ [ [ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ [ [ ,,QQGGXXVVWWUULLHHVVFFKKDDXXIIHHOOPPWWUU55XXQQGGPPLLWW((UUGG]]llKKQQHHQQ NJ ¼¼ [ [ [ NJ ¼ [ ,QGXVWULHVFKDXIHOPWU5XQGPLW (UG]lKQHQ NJ [ ,QGXVWULHVFKDXIHO PWU5XQGPLW(UG]lKQHQ NJ ¼ [ 7KDOHU=XEHK|U ,QGXVWULHVFKDXIHOPWU5XQGPLW(UG]lKQHQ NJ ¼ [ $UEHLWVJHUlWH *UHLIJDEHOVFKZHUH$XVIKUXQJ PWU NJ [ ¼ [ 3UHLVOLVWH *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [ [ *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [ [ [ *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [ [ [ *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [[ [ *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [[ [ *UHLIJDEHOVFKZHUH$XVIKUXQJPWU NJ [ ¼ [
3UHLVOLVWH 7KDOHU$UEHLWVJHUlWH 7KDOHU=XEHK|U $ 3UHLV $ $UWLNHO 1U $OOH6FKDXIHOQNRQLVFK FD H[FO $ $ GHUYHUVFK $ 77$$ (LJHQ 0ZVW 77$ $XIQDKPHQ (XUR JHZLFKW 9ROXP . 7$$ 7KDOHU 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKQHLGOHLVWH . . URNRGLOJHELVVQLFKW]XU6LODJHHQWQDKPHJHHLJQHW .URNRGLOJHELVV PWUPLW=\OLQGHU NJ [ ¼ [ .URNRGLOJHELVVPWUPLW=\OLQGHU NJ [ ¼ [ [ [ [ .URNRGLOJHELVVPWUPLW=\OLQGHU NJ [ ¼ [ [ [ .URNRGLOJHELVVPWUPLW=\OLQGHU NJ [ ¼ [ [ [ [ .URNRGLOJHELVVPWUPLW=\OLQGHU NJ [ ¼ [ [ .URNRGLOJHELVVPWUPLW=\OLQGHU [ ¼ [ NJ [ 3DOHWWHQJDEHOPWUEUHLW=LQNHQOlQJH PWU [ ¼ [ [ [ [ NJ [ [ 3DOHWWHQJDEHOPWUEUHLW=LQNHQOlQJHPWU NJ ¼ [ [ ¼ [ [ 3DOHWWHQJDEHOPWUEUHLW=LQNHQOlQJHPWU NJ ¼ 3DOHWWHQJDEHOPWUEUHLW=LQNHQOlQJHPWU NJ [ ¼ =LQNHQOlQJH PWU ¼ 3DOHWWHQJDEHOPWUIU7HOHVNRSRKQH6FKUlJH NJ [ [ [ ¼ [ [ =LQNHQOlQJH PWU 3DOHWWHQJDEHOPWUIU7HOHVNRSRKQH6FKUlJH NJ [ ¼¼ ¼ [ [ NJ [ ¼ . )XWWHUVFKLHEHUPWURKQH*XPP L NJ ¼ [ [ [ NJ [ ¼ [ [ [ . )XWWHUVFKLHEHUPWURKQH*XPPL [ [ . )XWWHUVFKLHEHU PWURKQH*XPPL [ . )XWWHUVFKLHEHUPP*XPPL NJ [ ¼ . )XWWHUVFKLHEHUPP*XPPL NJ [ [ . NJ [ [ . )XWWHUVFKLHEHUPWUPLW*XP PL [ . [ . +\GUDXOLVFKH9HUVWHOOOXQJ)XWWHUVFKLHEHU [ . $XIQDKPH7KDOHU [ $XIQDKPH(XUR NJ $XIQDKPH606 6WHLQVFKDXIHO PWU 6R PD 6WHLQVFKDXIHOPWU NJ ¼ [ [ /DQGX)RUVWWHFKQLN 6WHLQVFKDXIHOPWU NJ ¼ [ [ [ 6WHLQVFKDXIHOPWU NJ ¼ [ [ [ 6WHLQVFKDXIHOPWU NJ ¼ [ 6WHLQVFKDXIHOPWU [ NJ ¼
$UWLNHO 1U $OOH6FKDXIHOQNRQLVFK $ $ $ GHUYHUVFK $ $ FD 77$ (X UR . 77$$ $XIQDKPHQ (LJHQ . 7$$ JHZLFKW 9ROXP 3UH LV 7KDOHU 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKQHLGOHLVWH ¼ +\GUD XOLVFKHU*UHLIDUPIU3DOOHWWHQJDEHO NJ [ [ [ 6LORJUHLIVF KDXIHO PWU NJ ¼ [ NJ ¼ [ 6LORJUH LIVFKDXIHOPWU NJ ¼ [ 6LORJUHLIVFKDXIHOPWU [ [ [ NJ ¼ [ [ [ 6LORJUH LIVFKDXIHOPWU NJ ¼ [ [ 6LORJUH LIVFKDXIHOPWU NJ ¼ 6LORJUH LIVFKDXIHOPWU [ 6LORJUH LIVFKDXIHOPWU NJ ¼ [ [ [ (LQIDFKHU%DOOHQWUDQVSRUW=LQNHQ PLW [ [ 5FNUROOVLFKHUXQJ NJ [ ¼ [ [ [ 7KDOHU=XEHK|U *OOHVFKLH EHU$UEHLWVEPWU NJ [ ¼ [ [ [ [ [ $UEHLWVJHUlWH [ [ [ [ *OOHVFKLH EHU$UEHLWVEPWU NJ [ ¼ [ [ [ [ 3UHLVOLVWH *OOHVFKLH EHU$UEHLWVEPWU NJ [ ¼ [ [ [ [ HLQIDFKHU/DVWKDNHQVWDUU$XVODGXQJ0HWHU [ ¼ [ NJ7UDJNUDIW
3UHLVOLVWH 7KDOHU$UEHLWVJHUlWH 7KDOHU=XEHK|U $ 7$$ 77$$$ 77$$ $UWLNHO 1U $OOH6FKDXIHOQNRQLVFK FD 3UHLV $ GHUYHUVFK 0H[ZFVOW $ (LJHQ $XIQDKPHQ (XUR JHZLFKW 9ROXP . . 7KDOHU 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKQHLGOHLVWH [ (LQ]HODXIQDKPHIUYRUK*HUlWHPLW*UXQGSODWWH NJ [ ¼ [ [ [ [ [ (LQ]HODXIQDKPHIUYRUK*HUlWHRKQH*UXQGSODWWH NJ [ ¼ [ [ [ [ ¼¼ [ [ [ ++RRFFKKNNLLSSSSVV FFKKDDXXIIHHOOFFDDPPWWUU NJ [ [[ [[ NJ +RFKNLSSVFKDXIHOFDPWU NJ [ ¼ +RFKNLSSVFKDXIHOFDPWU ¼ [ 0DPXW6LORVFKQHLG]6& PJH]6FKQHLGH NJ ¼ [ [ 00DDPPXXWW66LLOORRVVFFKKQQHHLLGG]]66&(11PPJJHH]]66FFKKQQHHLLGGHH NJ ¼¼ [ [[ NJ [ [ [ [ $GDSWHU7KDOHUDXI(XUR NJ [ ¼ [ [ [ [ [ $GDSWHU(XURDXI7KDOHU NJ ¼ [ [ [ [ [ $GDSWHU7KDOHUDXI.DW ¼ [ [ [ [ [ 7UDQVSRUWER[ NJ [ ¼ 6R PD /DQGX)RUVWWHFKQLN V/FDKVZWKHDQNNHEQDU*UDGVWHLJHQGXQG*UDG VRZLH6FKQHOOYHUVWHOOXQJGHV+DNHQV ¼ [ [ [ [ [ $XVODGXQJPWU NJ7UDJNUDIW
77$$$$ 77$$ 7$$ [ $UWLNHO 1U $OOH6FKDXIHOQNRQLVFK 3UHLV $ [ GHUYHUVFK FD 0H[ZFVOW $ (LJHQ $XIQDKPHQ 9ROXP [ . JHZLFKW 7KDOHU (XUR 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKQHLGOHLVWH NJ . [ =ZLFNVFKDXIHO*UHLIVFKDXIHOPWU ¼ [ [ [ [ =ZLFNVFKDXIHO*UHLIVFKDXIHOPWU NJ ¼ NJ ¼ =ZLFNVFKDXIHO*UHLIVFKDXIHOPWU 5%)XRlWGXWHHPUQUEDlUQXHSPLWDHHVUVXOLQQJNFVPRXGQHGUUFHDFKWVOPLQgOEHGD UILQNO NJ ¼ ¼ .UDIWIXWWHUEHKlOWHU 3ODQLHUUDKPHQP NJ [ 33OODDQQLLHHUUUUDD KKPPHHQQPP NJ [ ¼ NJ [ ¼ ¼ 8QDEKlQJLJH *HVFKZLQGLJNHLWVUHJHOXQJHPSIRKOHQ 7KDOHU=XEHK|U +DQGLQFK $UEHLWVJHUlWH NJ [ [ [ . 00XX OOFFKKJJHHUUllWW$$UUEEHHLLWWVVEE UUHHLLWWHH NJ [ ¼ [ [ 3UHLVOLVWH . ¼ [ [ [ . $XIQDKPH 7KDOHU [ . $XIQDKPH(XUR [ . $XIQDKPH606 [ ]X0XFKOJHUlWPWU) UDFKWN RVWHQDQWHLOIU0XOFKJHUlW'HXWVFKODQG ¼ ]X0XOFKJHUlW PWU) UDFKWNRVWHQDQWHLOIU0XOFKJHUlW'HXWVFKODQG ¼
3UHLVOLVWH 7KDOHU$UEHLWVJHUlWH 7KDOHU=XEHK|U $GHUWULNYHHOUV1FUK $OOH6FKDXIHOQNRQLVFK $ $XIQDKPHQ $ FD 3UHLV . [7$$ [77$$$ 7[7$ (LJHQ . H[FO $ 7KDOHU (XUR 606 $UWLNHOEH]HLFKQXQJ%UHLWHGHU6FKQHLGOHLVWH JHZLFKW 9ROXP [$ [ (UG ERKUHU [ 0ZVW ¼ [ [ [ [ %RKUHU'PPFDPWU [ ¼ [ [ %RKUHU'PPFDPWU [ ¼ [ [ [ [ %RKUHU'PPFDPWU [ ¼ [ [ [ [ [ +\GU% DOOHQ]DQJH3URIL&RPEL NJ [ $QDIUXDIJ H [ [ [ [ [ NJ 6SH UUJXWVFKD XIHOPLW$XIVD6W]SHPUULFJKXWWV]FXKUDX6ILHOROHPQLWWQ$DXKIVPDHW]JH=HL\JOLQQHGWHU NJ ¼ [ [ ¼ [ 6SHUUJXWVFKDXIHOPLW$XIVDW]=\OLQGHU [ [ 6SHUUJXWVFKDXIHOPLW$XIVDW]=\OLQGHU NJ ¼ [ [ [ 6SHUUJXWVFKDXIHOPLW$XIVDW]=\OLQGHU NJ ¼ [ [ 6SHUUJXWVFKDXIHOPLW$XIVDW]=\OLQGHU NJ ¼ NJ 6SHUUJXWVFKDXIHOPLW$XIVDW]=\OLQGHU ¼ OJ [ [ 9ROX PHQPLW6HLWHQZlQGH NJ [ NJ ¼ [ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG NJ ¼ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG NJ ¼ [ [ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG NJ ¼ [ [ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG ¼ [ [ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG [ ¼ [ 6SHUUJXWVFKDXIHOP$XIVDW]=\OP6HLWHQZDQG NJ [ ¼ ¼ 6HLWHQZlQGHIU6SHUUJXWVFKDXIHO6DW] 6LFK HOPlKZHUNPWU 6R PD 6LFKHOPlKZHUNPWU NJ [ ¼ [ /DQGX)RUVWWHFKQLN 6LFKHOPlKZHUNPWU NJ [ ¼ [ [ [ 8QDEKlQJLJH*HVFKZLQGLJNHLWVUHJHOXQJHPSIRKOHQ +DQGLQFK
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