Carmilla

6KHULGDQ/H)DQX &DUPLOOD GHXWVFKH)DVVXQJ KWWSZZZYDPS\UELEOLRWKHNGHGXQNOHBO\ULNKWP 2IIOLQH9HUVLRQE\0HPEDU...

Author: LeFanu Joseph Sheridan

67 downloads 1034 Views 623KB Size Report

This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!

Report copyright / DMCA form

DOWNLOAD PDF

6KHULGDQ/H)DQX

&DUPLOOD GHXWVFKH)DVVXQJ

KWWSZZZYDPS\UELEOLRWKHNGHGXQNOHBO\ULNKWP

2IIOLQH9HUVLRQE\0HPEDULV 6SHOOELQGHU

$XI HLQ %ODWW 3DSLHU ZHOFKHV GHP IROJHQGHQ %HULFKW EHLJHJHEHQ ZDU KDW

'U+HVVHOLXVHLQH]LHPOLFKDXVIKUOLFKH$QPHUNXQJJHVFKULHEHQXQGLKUHLQHQ +LQZHLV DXI VHLQH $EKDQGOXQJ EHU GDV PHUNZUGLJH 3UREOHP GDV LP 0DQXVNULSWEHOHXFKWHWZLUGKLQ]XJHIJW ,Q GHU HUZlKQWHQ 6FKULIW EHKDQGHOW HU MHQHV JHKHLPQLVYROOH 7KHPD PLW GHU LKP HLJHQHQ *HOHKUVDPNHLW XQG *HLVWHVVFKlUIH XQG ]XGHP EHPHUNHQVZHUW XQXPZXQGHQXQGSUl]LV'LH$EKDQGOXQJZLUGEULJHQVQXUHLQHQ%DQGGHU JHVDPPHOWHQ:HUNHGLHVHVDXHUJHZ|KQOLFKHQ0DQQHVDXVPDFKHQ :HQQ LFK DOOHLQ XP GDV ,QWHUHVVH GHU /DLHQ ]X ZHFNHQ GHQ EHWUHIIHQGHQ )DOO KLHU YHU|IIHQWOLFKH VR ZLOO LFK GHU NOXJHQ %HULFKWHUVWDWWHULQ LQ QLFKWV YRUJUHLIHQ$XVGHPJOHLFKHQ*UXQGHKDEHLFKPLFKQDFKUHLIOLFKHUh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lWWHDEHUDXFKVLHGHP%HULFKWZHQLJKLQ]XIJHQN|QQHQGHQ VLH VRZHLW LFK EHXUWHLOHQ NDQQ PLW JU|WHU *HZLVVHQKDIWLJNHLW DXI GHQ IROJHQGHQ6HLWHQHUVWDWWHWKDW

,)UKHV(QWVHW]HQ 2EZRKOZLUNHLQHVZHJVKRKH+HUUVFKDIWHQVLQGEHZRKQHQZLUHLQ6FKORLQ GHU6WHLHUPDUN,QGLHVHP7HLOGHU:HOWUHLFKWHLQEHVFKHLGHQHV(LQNRPPHQ

ZHLW$FKWRGHUQHXQKXQGHUW3IXQGMlKUOLFKZLUNHQKLHU:XQGHU=X+DXVH KlWWH PDQ XQV ZRKO NDXP ]X GHQ %HJWHUWHQ JH]lKOW 0HLQ 9DWHU LVW (QJOlQGHU XQG LFK WUDJH HLQHQ HQJOLVFKHQ 1DPHQ REJOHLFK LFK (QJODQG QLH JHVHKHQKDEH +LHUMHGRFKLQGLHVHUHLQVDPHQSULPLWLYHQ*HJHQGN|QQWHPDQ VHOEVW PLW XQEHJUHQ]WHQ ILQDQ]LHOOHQ 0LWWHOQ QLFKW EHTXHPHU MD OX[XUL|VHU OHEHQDOVZLUHVWXQ 0HLQ 9DWHU ZDU LQ |VWHUUHLFKLVFKHQ 'LHQVWHQ 1DFK VHLQHU 3HQVLRQLHUXQJ JULIIHUDXIVHLQYlWHUOLFKHV(UEWHLO]XUFNXQGHUZDUEGLHVHQ$GHOVVLW]VDPW GHPGD]XJHK|ULJHQNOHLQHQ/DQGJXW]XHLQHPlXHUVWJQVWLJHQ3UHLV 1LFKWVNDQQPDOHULVFKHUXQGHLQVDPHUVHLQDOVXQVHU6FKOR(VVWHKWPLWWHQ LP:DOGDXIHLQHUOHLFKWHQ$QK|KH'HUVFKPDOHDXVJHWUHWHQH:HJIKUWDQ GHU=XJEUFNHYRUEHLGLHVRODQJHLFKKLHUJHOHEWKDEHQLHPDOVKRFKJH]RJHQ ZRUGHQLVWXQGYHUOlXIWHQWODQJGHP%XUJJUDEHQLQGHP.DUSIHQJH]FKWHW ZHUGHQ XQG DXI GHVVHQ :DVVHUVSLHJHO YLHOH 6FKZl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|OI QDFK OLQNV 'DV QlFKVWH EHZRKQWH 'RUI OLHJW XQJHIlKU VLHEHQ HQJOLVFKH 0HLOHQ JHQ 2VWHQ GDV QlFKVWH EHZRKQWH 6FKOR YRQ KLVWRULVFKHP ,QWHUHVVH LVW GDV GHV DOWHQ *HQHUDOV 6SLHOVGRUI GDV LQ HQWJHJHQJHVHW]WHU5LFKWXQJIDVW]ZDQ]LJ0HLOHQHQWIHUQWOLHJW ,FKKDEHDEVLFKWOLFKYRPQlFKVWHQEHZRKQWHQ'RUIJHVSURFKHQGHQQQXUGUHL 0HLOHQZHVWOLFKDOVRLQGHUVHOEHQ5LFKWXQJZLH*HQHUDO6SLHOVGRUI6FKOR VWHKW HLQ YHUIDOOHQHV 'RUI PLW HLQHU NOHLQHQ DOWHUWPOLFKHQ .LUFKH GLH NHLQ 'DFK PHKU KDWXQG LQ GHUHQ 6HLWHQVFKLII GLH *UlEHU GHU VWRO]HQ .DUQVWHLQV ]HUEU|FNHOQ HLQHU DXVJHVWRUEHQHQ )DPLOLH HLQVW (LJHQWPHU GHV KHXWH HEHQIDOOVYHU|GHWHQ6FKORVVHVGDVYRQGLFKWHP:DOGXPJHEHQGLHVWXPPHQ 5XLQHQGHV'RUIHVEHUUDJW (LQH(UNOlUXQJGDIUZDUXPGLHVHUHLQGUXFNVYROOHPHODQFKROLVFKVWLPPHQGH

2UW YRQ VHLQHQ %HZRKQHUQ YHUODVVHQ ZXUGH ILQGHW VLFK LQ HLQHU DOWHQ *HVFKLFKWHGLHLFK,KQHQVSlWHUHU]lKOHQZHUGH -HW]WPXLFK6LHPLWGHPVHKUNOHLQHQ.UHLVYRQ0HQVFKHQEHNDQQWPDFKHQ GHU LQ XQVHUHP 6FKOR OHEW ,FK QHKPH GLH 'LHQHUVFKDIW XQG GLH LQ GHQ DQOLHJHQGHQ*HElXGHQZRKQHQGHQ$QJHVWHOOWHQDXV+|UHQXQGVWDXQHQ6LH 'D LVW PHLQ 9DWHU GHU JWLJVWH 0HQVFK DXI GHU :HOW DEHU HLQ DOWHUQGHU 0DQQ XQG GD ELQ LFK =X GHU =HLW YRQ GHU LFK EHULFKWHQ ZLOO ZDU LFK HUVW QHXQ]HKQ6HLWGHPVLQGDFKW-DKUHYHUJDQJHQ:LUEHLGHZDUHQGLH HLQ]LJHQ )DPLOLHQPLWJOLHGHU 0HLQH 0XWWHU HLQH 6WHLHUPlUNHULQ VWDUE DOV LFK QRFK JDQ]NOHLQZDUGRFKLFKKDWWHHLQHJXWPWLJH*RXYHUQDQWHGLHPLFKVHLWPHLQHU IUKHQ.LQGKHLWEHWUHXWH,KUGLFNOLFKHVZRKOZROOHQGHV*HVLFKWZDUPLUYRQ MHKHUYHUWUDXW0DGDPH3HUURGRQDXV%HUQJHEUWLJHUVHW]WHPLUPLWLKUHU )UVRUJOLFKNHLWXQGLKUHPJXWHQ+HU]HQZHQLJVWHQV]XP7HLOGLH/LHEHPHLQHU 0XWWHU GLH LFK ]X IUK YHUORUHQ KDWWH XP PLFK LKUHU HULQQHUQ ]X N|QQHQ 0DGDPHDOVRZDUGLH'ULWWHLQ XQVHUHU NOHLQHQ 7LVFKUXQGH 8QG GLH 9LHUWH ZDU 0DGHPRLVHOOH 'H /DIRQWDLQH GLH VLH YHUPXWOLFK DOV +DXVOHKUHULQ EH]HLFKQHQZUGHQ6LHVSUDFK)UDQ]|VLVFKXQG'HXWVFK0DGDPH3HUURGRQ )UDQ]|VLVFK XQG JHEURFKHQ (QJOLVFK ZlKUHQG PHLQ 9DWHU XQG LFK WHLOV XP GDV (QJOLVFKH QLFKW JDQ] XQG JDU ]X YHUJHVVHQ WHLOV DEHU DXFK DXV SDWULRWLVFKHQ*UQGHQXQVWlJOLFKLQGLHVHU6SUDFKHXQWHUKLHOWHQ'LH)ROJH ZDU HLQH EDE\ORQLVFKH 6SUDFKYHUZLUUXQJ EHU GLH IUHPGH %HVXFKHU VLFK DPVLHUWHQXQGGLHLFKLQGLHVHP%HULFKWQLFKWZLHGHUJHEHQZLOO+LHUXQGGD ZDUHQ]ZHLRGHUGUHLXQVEHIUHXQGHWHMXQJH'DPHQHWZDLQPHLQHP$OWHUEHL XQV]X*DVWXQGJHOHJHQWOLFKHUZLGHUWHLFKLKUHQ%HVXFK 'DVDOVRZDUPHLQWlJOLFKHU8PJDQJ$EHUQDWUOLFKVSUDFKHQELVZHLOHQDXFK 1DFKEDUQ EHL XQV YRU GLH IQI]HKQ ELV ]ZDQ]LJ 0HLOHQ HQWIHUQW ZRKQWHQ 7URW]GHPGDVN|QQHQ6LHPLUJODXEHQZDUPHLQ/HEHQUHFKWHLQVDP 0HLQH*RXYHUQDQWHQKDWWHQPLFKQXUVRZHLWLQGHU+DQGZLHHVHEHQP|JOLFK LVW ZHQQ HKUZUGLJH 'DPHQ HV PLW HLQHP ]LHPOLFK YHU]RJHQHQ MXQJHQ 0lGFKHQ]XWXQKDEHQGHVVHQ9DWHULKPIDVWLPPHUVHLQHQ:LOOHQOlW 'DV HUVWH (UHLJQLV PHLQHV /HEHQV GDV PLU HLQHQ IXUFKWEDUHQ 6FKUHFNHQ HLQMDJWHXQGPLUQLHPHKUDXVGHP*HGlFKWQLVJHVFKZXQGHQLVW]lKOW]XGHQ IUKHVWHQ 9RUIlOOHQ GHUHQ LFK PLFK EHUKDXSW HQWVLQQHQ NDQQ 0DQFK HLQHP PDJ HV ]X XQEHGHXWHQG HUVFKHLQHQ XP LQ GLHVHQ %HULFKW DXIJHQRPPHQ ]X

ZHUGHQ GRFK 6LH ZHUGHQ DOOPlKOLFK YHUVWHKHQ ZDUXP LFK HV HUZlKQH 'DV .LQGHU]LPPHUGDVVRJHQDQQWZXUGHREZRKOLFKHVDOOHLQEHZRKQWHZDUHLQ JURHU 5DXP LP REHUHQ 6WRFNZHUN GHV 6FKORVVHV XQPLWWHOEDU XQWHU GHP VWHLOHQHLFKHQHQ'DFKJHElON,FKZDUNDXPlOWHUDOVVHFKV-DKUHDOVLFKHLQHV 1DFKWV DXIZDFKWH PLFK YRP %HWW DXV LP =LPPHU XPVDK ZHGHU GLH .LQGHUIUDXQRFKGDVLKU]XJHWHLOWH+DXVPlGFKHQHQWGHFNWHXQGJODXEWHLFKVHL DOOHLQ ,FK IUFKWHWH PLFK QLFKW GHQQ LFK ZDU HLQHV MHQHU JOFNOLFKHQ .LQGHU GHQHQPDQDEVLFKWOLFKNHLQH*HLVWHUJHVFKLFKWHQ0lUFKHQRGHU6DJHQHU]lKOW XQGGLH GDKHUGHQ .RSI QLFKW XQWHU GLH %HWWGHFNH VWHFNHQ ZHQQ SO|W]OLFK GLH 7UNQDUUWRGHULP)ODFNHUQHLQHUQLHGHUJHEUDQQWHQ.HU]HGHU 6FKDWWHQ GHV %HWWSIRVWHQV DQ GHU :DQG WDQ]W JDQ] QDKH DP .RSINLVVHQ $EHU LFK ZDU lUJHUOLFK XQG EHOHLGLJW GHQQ LFK IKOWH PLFK YHUQDFKOlVVLJW LFK EHJDQQ ]X ZLPPHUQXQGZDUQDKHGDUDQLQKHIWLJHV*HVFKUHLDXV]XEUHFKHQ'DHUEOLFNWH LFK]XPHLQHUhEHUUDVFKXQJHLQ HUQVWHV DEHU VHKU OLHEUHL]HQGHV *HVLFKW GDV PLFK YRP 5DQG GHV %HWWHV KHU DQVDK (V ZDU GDV *HVLFKW HLQHU MXQJHQ 'DPHGLHQHEHQPLUNQLHWHXQGGLH+lQGHXQWHUGLH%HWWGHFNHJHVFKREHQKDWWH ,FK EHWUDFKWHWH VLH PLW IDVW IUHXGLJHP 6WDXQHQ XQG K|UWH DXI ]X VFKOXFK]HQ 6LH VWUHLFKHOWH PLFK ]lUWOLFK OHJWH VLFK QHEHQ PLFK DXIV %HWW XQG ]RJ PLFK OlFKHOQGDQVLFK6RIRUWIKOWHLFKPLFKZXQGHUEDUEHUXKLJWXQGVFKOLHIZLHGHU HLQ'RFKSO|W]OLFKVFKUHFNWHLFKKRFKPLUZDUDOVVHLHQ]ZHL1DGHOQWLHILQ PHLQH%UXVWJHGUXQJHQ,FKVWLHHLQHQODXWHQ6FKUHLDXV'LH'DPHULFKWHWH VLFKUDVFKDXIVWDUUWHPLFKDQOLHVLFK]X%RGHQJOHLWHQXQGVFKOSIWHZLH PLUVFKLHQXQWHUV%HWW -HW]WHUVWSDFNWHPLFKGLH$QJVWXQGLFKVFKULHVRODXWLFKNRQQWH.LQGHUIUDX 0lGFKHQ +DXVKlOWHULQ DOOH VWU]WHQ LQV =LPPHU K|UWHQ VLFK PHLQH *HVFKLFKWHDQYHUVXFKWHQVLHPLUDXV]XUHGHQXQGPLFK]XEHUXKLJHQ$EHULFK EHPHUNWHZHQQJOHLFKLFKQRFKHLQ.LQGZDUGDLKUH*HVLFKWHUEODZXUGHQ XQGHLQHQVHOWVDPlQJVWOLFKHQ$XVGUXFNDQQDKPHQXQGLFKVDKZLHVLHXQWHUV %HWW VFKDXWHQ VLFK LP =LPPHU XPEOLFNWHQ XQWHU GLH 7LVFKH OXJWHQ XQG GLH 6FKUlQNH |IIQHWHQ ,FK K|UWH ZLH GLH +DXVKlOWHULQ GHU .LQGHUIUDX ]XIOVWHUWH6SUHQ6LHGLHVH9HUWLHIXQJLP%HWW"+LHUKDWMHPDQGJHOHJHQ VRZDKUPLU*RWWKHOIH'LH6WHOOHLVWQRFKZDUP,FKZHLQRFKZLHGDV +DXVPlGFKHQPLFKVWUHLFKHOWHZLHDOOHGUHLPHLQHQ2EHUN|USHUEHVDKHQGRUW ZRLFKGLH6WLFKHJHVSUWKDWWHXQGGDQQHUNOlUWHQHVVHLQLFKWGDV*HULQJVWH

]XHQWGHFNHQ 'LH +DXVKlOWHULQ XQG GLH EHLGHQ IUV .LQGHU]LPPHU YHUDQWZRUWOLFKHQ 0lGFKHQZDFKWHQELV]XP0RUJHQEHLPLU8QGYRQMHQHP7DJELV]XPHLQHP YLHU]HKQWHQ/HEHQVMDKUYHUEUDFKWHVWHWVHLQH%HGLHQVWHWHGLH1DFKWLQPHLQHP =LPPHU 1DFKGLHVHP9RUIDOOZDULFKODQJH=HLWVHKUQHUY|V0DQKROWHHLQHQ$U]W HLQHQ EODVVHQ lOWOLFKHQ 0DQQ :LH JXW LFK PLFK DQ VHLQ ODQJHV PHODQFKROLVFKHV OHLFKW SRFNHQQDUELJHV *HVLFKW HULQQHUQ NDQQ (LQH =HLWODQJ HUVFKLHQHUMHGHQ]ZHLWHQ7DJXQGJDEPLUHLQH0HGL]LQHLQGLHLFKQDWUOLFK YHUDEVFKHXWH $P 0RUJHQ QDFK GHU QlFKWOLFKHQ (UVFKHLQXQJ KDWWH PLFK GDV (QWVHW]HQ VR JHSDFNWGDLFKHVQLFKWHUWUXJDXFKQXUHLQHQ$XJHQEOLFNDOOHLQJHODVVHQ]X ZHUGHQ REZRKO GRFK KHOOHU 7DJ ZDU ,FK HQWVLQQH PLFK GD PHLQ 9DWHU KHUDXINDPPXQWHUSODXGHUQGDQPHLQHP%HWWVWDQGHLQSDDU)UDJHQDQGLH .LQGHUIUDXULFKWHWHEHUHLQHLKUHU$QWZRUWHQKHU]OLFKODFKWHPHLQH6FKXOWHU WlWVFKHOWHPLFKNWHXQGPLU]XUHGHWHNHLQH$QJVW]XKDEHQHVVHLDOOHVQXU HLQ7UDXPJHZHVHQGHUPLUQLFKWVDQKDEHQN|QQH ,FKDEHUHPSIDQGNHLQHQ7URVWGHQQLFKZXWHGDGHU%HVXFKGHUIUHPGHQ 'DPHNHLQ7UDXPJHZHVHQZDU,FKKDWWHIXUFKWEDUH$QJVW (VKDOIDXFKQLFKWYLHOGDGDV+DXVPlGFKHQPLUYHUVLFKHUWHHVKDEHLQGHU 1DFKWQDFKPLUJHVHKHQXQGVLFK]XPLUDXIV%HWWJHOHJW2IIHQEDUKlWWHLFK LP +DOEVFKODI LKU *HVLFKW QLFKW HUNDQQW 2EZRKO GLH .LQGHUIUDX GDV DOOHV EHVWlWLJWHJDELFKPLFKPLWGLHVHU(UNOlUXQJQLFKW]XIULHGHQ ,FKZHLQRFKGDDPVHOEHQ7DJHLQHKUZUGLJHUDOWHU0DQQLQVFKZDU]HU 6RXWDQH YRQ GHU .LQGHUIUDX XQG GHP 0lGFKHQ LQV =LPPHU JHIKUW ZXUGH VLFK NXU] PLW EHLGHQ XQWHUKLHOW XQG VLFK GDQQ IUHXQGOLFK DQ PLFK ZDQGWH (U KDWWH HLQ PLOGHV JWLJHV *HVLFKW (U VDJWH HU ZROOH MHW]W PLW XQV EHWHQ HUJULIIPHLQH+lQGHOHJWHVLH]XVDPPHQXQGEDWPLFKOHLVHYRUPLFKKLQ]X VDJHQ2+HUUHUK|UHDOOHGLHIUXQVELWWHQXP-HVXZLOOHQ,FKJODXEH GDVZDUHQJHQDXGLH:RUWHGHQQLFKKDEHVLHLQ*HGDQNHQRIWZLHGHUKROWXQG PHLQH .LQGHUIUDX DFKWHWH MDKUHODQJ GDUDXI GD LFK VLH PHLQHQ *HEHWHQ ]XIJWH ,FKNDQQPLFKOHEKDIWDQGDVQDFKGHQNOLFKHPLOGH*HVLFKWMHQHVZHLKDDULJHQ DOWHQ 0DQQHV HULQQHUQ GHU LQ VHLQHU VFKZDU]HQ 6RXWDQH LQ GHP VWUHQJHQ

KRKHQEUDXQHQ5DXPPLWGHPVFKZHUIlOOLJHQ0RELOLDULP6WLOGHU=HLWYRU GUHLKXQGHUW -DKUHQ VWDQG HLQHP 5DXP GHVVHQ 'VWHUNHLW QXU VSlUOLFK YRQ GHP GXUFK GDV NOHLQH YHUJLWWHUWH )HQVWHU GULQJHQGHQ /LFKW HUKHOOW ZXUGH (U XQGGLHGUHL)UDXHQODJHQDXIGHQ.QLHQXQGHUEHWHWHVHKUODQJHZLHPLU VFKLHQPLWHUQVWHUEHEHQGHU6WLPPH$OOHVZDVLFKYRUGLHVHP7DJHUOHEW KDWWHKDEHLFKYHUJHVVHQXQGDXFKZDVLQGHUGDUDXIIROJHQGHQ=HLWJHVFKDK LVWYHUVXQNHQ'LH6]HQHQDEHUGLHLFKJHUDGHJHVFKLOGHUWKDEHVHKHLFKNODU XQG GHXWOLFK YRU PLU ZLH GLH XQ]XVDPPHQKlQJHQGHQ %LOGHU HLQHU DXV GHP 'XQNHODXIVWHLJHQGHQ3KDQWDVPDJRULH

,,(LQ*DVW :DVLFK,KQHQMHW]WEHULFKWHQZHUGHLVWVRVHOWVDPGD6LHHVQXUJODXEHQ ZHUGHQ ZHQQ 6LH PHLQHU :DKUKDIWLJNHLW YROO YHUWUDXHQ 0HLQH *HVFKLFKWH LVWZDKUPHKUQRFKLFKKDEHVLHVHOEVWHUOHEW (VZDUHLQPLOGHU6RPPHUDEHQGXQGPHLQ9DWHUIRUGHUWHPLFKZLHGHUHLQPDO ]XHLQHP6SD]LHUJDQJLQGHUKHUUOLFKHQ:DOGOLFKWXQJDXIGLHZLHLFKEHUHLWV HUZlKQWKDEHGLUHNWYRUGHP6FKORWRUEHJLQQW *HQHUDO 6SLHOVGRUI NDQQ QXQ GRFK QLFKW VR EDOG ]X XQV NRPPHQ ZLH LFK JHKRIIWKDWWHVDJWHPHLQ9DWHUZlKUHQGZLUGDKLQVFKULWWHQ 'HU *HQHUDO KDWWH JHSODQW XQV IU HLQLJH :RFKHQ ]X EHVXFKHQ XQG ZLU KDWWHQ LKQ EHUHLWV DP IROJHQGHQ 7DJ HUZDUWHW (U ZROOWH HLQH MXQJH 'DPH PLWEULQJHQ)UlXOHLQ5KHLQIHOGWVHLQH1LFKWHXQG]XJOHLFKVHLQ0QGHO,FK NDQQWH VLH QLFKW KDWWH DEHU JHK|UW VLH VHL HLQ UHL]HQGHV 0lGFKHQ XQG KDWWH PLFK DXI YLHOH VFK|QH 7DJH LQ LKUHU *HVHOOVFKDIW JHIUHXW ,FK ZDU WLHIHU HQWWlXVFKW DOV HLQH LQ GHU 6WDGW RGHU LQ HLQHU EHOHEWHQ OlQGOLFKHQ *HJHQG ZRKQHQGHMXQJH'DPHVLFKYRUVWHOOHQNDQQ6HLWYLHOHQ:RFKHQKDWWHLFKPLU GLHVHQ%HVXFKXQGGLHQHXH%HNDQQWVFKDIWLQPHLQHQ7DJWUlXPHQDXVJHPDOW :DQQZLUGHUGHQQNRPPHQ"IUDJWHLFK 1LFKW YRU GHP +HUEVW ,Q ]ZHL 0RQDWHQ ZDKUVFKHLQOLFK HUZLGHUWH PHLQ 9DWHU 8QG LFK ELQ MHW]W VHKU IURK GD GX )UlXOHLQ 5KHLQIHOGW QLH NHQQHQJHOHUQWKDVW

:DUXP"IUDJWHLFKEHWURIIHQXQGQHXJLHULJ]XJOHLFK :HLOGLHDUPHMXQJH'DPHWRWLVW,FKYHUJDEHLQDKHGDLFKHVGLUQRFK QLFKW HU]lKOW KDEH DEHU GX ZDUVW QLFKW LP =LPPHU DOV LFK KHXWH DEHQG GHQ %ULHIGHV*HQHUDOVHUKLHOW ,FKZDUHQWVHW]W*HQHUDO6SLHOVGRUIKDWWHLQVHLQHPHUVWHQ%ULHIYRUVHFKV RGHUVLHEHQ:RFKHQ]ZDUHUZlKQWGDVLHVLFKQLFKWZRKOIKOHDEHUQLFKWV KDWWHDXIGLHJHULQJVWH*HIDKUJHGHXWHW +LHU LVW GHU %ULHI GHV *HQHUDOV VDJWH PHLQ 9DWHU XQG JDE PLU GDV 6FKUHLEHQ ,FK IUFKWH HU LVW Y|OOLJ YHUVW|UW (UPX GHQ %ULHI LQ JURHU 9HUZLUUXQJJHVFKULHEHQKDEHQ :LUOLHHQXQVXQWHUKHUUOLFKHQ/LQGHQDXIHLQHUNORELJHQ%DQNQLHGHU$P EHZDOGHWHQ+RUL]RQWVDKHQZLUGLH6RQQHLQPHODQFKROLVFKHU3UDFKWVLQNHQ XQG LP )OX GHU DP 6FKOR YRUEHLIOLHW YRQ GHU EHUHLWV HUZlKQWHQ DOWHQ VWHLOHQ %UFNH EHUVSDQQW ZLUG XQG VLFK GDQQ IDVW ]X XQVHUHQ )HQ ]ZLVFKHQ ]DKOUHLFKHQ SUlFKWLJHQ %DXPJUXSSHQ KLQGXUFKVFKOlQJHOW VSLHJHOWH VLFKGHUYHUEODVVHQGH3XUSXUGHV$EHQGKLPPHOV*HQHUDO6SLHOVGRUIV%ULHI ZDUVRDXHUJHZ|KQOLFKVRKHIWLJXQGVWHOOHQZHLVHVRZLGHUVSUXFKVYROOGD LFK LKQ ]ZHLPDO ODV GDV ]ZHLWH 0DO ODXW LKQ DEHU DXFK GDQQ QRFK XQHUNOlUOLFKIDQGHVVHLGHQQPDQXQWHUVWHOOWHGDGHU .XPPHU GHQ *HLVW GHV*HQHUDOVYHUZLUUWKDWWH ,FK KDEH VR EHJDQQ HU PHLQH JHOLHEWH 7RFKWHU YHUORUHQ GHQQ DOV PHLQH 7RFKWHU KDEH LFK VLH EHWUDFKWHW :lKUHQG GHU OHW]WHQ .UDQNKHLWVWDJH PHLQHU OLHEHQ%HUWKDZDULFKQLFKWIlKLJ,KQHQ]XVFKUHLEHQ9RUKHUKDWWHLFKNHLQH $KQXQJ LQ ZHOFKHU *HIDKU VLH VFKZHEWH ,FK KDEH VLH YHUORUHQ XQG MHW]W VROOHQ 6LH DOOHV HUIDKUHQ ]X VSlW 6LH VWDUE LQ GHP )ULHGHQ GHQ GLH 8QVFKXOG JHZlKUW XQG LQ GHU ZXQGHUEDUHQ +RIIQXQJ DXI HLQH JHVHJQHWH =XNXQIW'HU8QKROGGHUXQVHUHOLHEHYROOH*DVWIUHXQGVFKDIWPLEUDXFKWKDW LVW DQ DOOHP VFKXOG ,FK JODXEWH PHLQ +DXV GHU 8QVFKXOG XQG +HLWHUNHLW JH|IIQHW XQG PHLQHU GDKLQJHJDQJHQHQ %HUWKD ]X HLQHU UHL]HQGHQ *HIlKUWLQ YHUKROIHQ]XKDEHQ+LPPHO:DVIUHLQ1DUU ELQLFKJHZHVHQ,FKGDQNH *RWWGDPHLQH7RFKWHUVWDUERKQHGLH8UVDFKHLKUHU/HLGHQ]XNHQQHQ6LH YHUVFKLHG RKQH ]X DKQHQ ZHOFKHU $UW LKUH .UDQNKHLW ZDU RKQH XP GLH YHUIOXFKWH/HLGHQVFKDIWMHQHV:HVHQV]XZLVVHQGDVIUXQVHUJDQ]HV(OHQG YHUDQWZRUWOLFK LVW,FK ZHUGH GHQ 5HVW PHLQHV /HEHQV GDPLW YHUEULQJHQ HLQ

8QJHKHXHU DXI]XVSUHQ XQG ]X YHUQLFKWHQ ,FK KDEH HUIDKUHQ GD PHLQ JHUHFKWHVXQGEDUPKHU]LJHV8QWHUIDQJHQ QLFKW DXVVLFKWVORV LVW *HJHQZlUWLJ MHGRFKLVWNDXPHLQ/LFKWVWUDKO]XHQWGHFNHQGHUPLUGHQUHFKWHQ:HJZHLVHQ N|QQWH ,FK YHUIOXFKH PHLQH EHUKHEOLFKH 8QJOlXELJNHLW PHLQ YHUDEVFKHXXQJVZUGLJ EHUOHJHQHV *HKDEH PHLQH %OLQGKHLW PHLQH 9HUERKUWKHLWDOOHV]XVSlW,FKNDQQMHW]WZHGHUYHUQQIWLJVFKUHLEHQQRFK NODUGHQNHQ,FKELQYHUZLUUW6REDOGLFKPLFKHWZDVHUKROWKDEHZHUGHLFK 1DFKIRUVFKXQJHQ DQVWHOOHQ GLH PLFK P|JOLFKHUZHLVH ELV QDFK :LHQ IKUHQ ZHUGHQ,UJHQGZDQQ LP+HUEVWLQ ]ZHL 0RQDWHQ RGHU IDOOV LFKGDQQ QRFK OHEH DXFK IUKHU ZHUGH LFK VLH DXIVXFKHQ YRUDXVJHVHW]W GD HV ,KQHQ JHQHKP LVW 'DQQ ZHUGH LFK ,KQHQ DOOHV HU]lKOHQ ZDV LFK MHW]W QLFKW GHP 3DSLHU DQ]XYHUWUDXHQ ZDJH /HEHQ 6LH ZRKO %HWHQ 6LH IU PLFK OLHEHU )UHXQG 0LW GLHVHQ :RUWHQ VFKOR GDV VHOWVDPH 6FKUHLEHQ 2EZRKO LFK %HUWKD 5KHLQIHOGWQLHEHJHJQHWZDUWULHEPLUGLHXQHUZDUWHWH1DFKULFKWGLH7UlQHQLQ GLH$XJHQ,FKZDUEHVWU]WXQGJOHLFK]HLWLJ]XWLHIVWHQWWlXVFKW 'LH6RQQHZDUXQWHUJHJDQJHQXQG'lPPHUOLFKWXPJDEXQVDOVLFKPHLQHP 9DWHUGHQ%ULHIGHV*HQHUDOV]XUFNJDE (VZDUHLQPLOGHUNODUHU$EHQG:LUJLQJHQODQJVDPQDFK+DXVHEHUGLH %HGHXWXQJ GHU ZLOGHQ XQ]XVDPPHQKlQJHQGHQ 6lW]H QDFKVLQQHQG GLH LFK VRHEHQJHOHVHQKDWWH:LUPXWHQHLQH0HLOH]XUFNOHJHQELVZLUGHQ:HJ YRUGHP6FKORHUUHLFKWHQ,Q]ZLVFKHQJOlQ]WHGHU0RQGDP+LPPHO$QGHU =XJEUFNH VDKHQ ZLU 0DGDPH 3HUURGRQ XQG 0DGHPRLVHOOH 'H /DIRQWDLQH VWHKHQGLHRKQH.RSIEHGHFNXQJLQV)UHLHJHNRPPHQZDUHQXPGHQKHUUOLFKHQ 0RQGVFKHLQ]XJHQLHHQ :lKUHQG ZLU XQV GHU =XJEUFNH QlKHUWHQ K|UWHQ ZLU GLH EHLGHQ DQJHUHJW SODXGHUQ:LUJHVHOOWHQXQV]XLKQHQXQGEHZXQGHUWHQJHPHLQVDPGDVVFK|QH 3DQRUDPD 'LH /LFKWXQJ GLH ZLU JHUDGH GXUFKTXHUW KDWWHQ ODJ YRU XQV =X XQVHUHU /LQNHQ ZDQG VLFK GHU VFKPDOH :HJ ]ZLVFKHQ HLQ]HOQHQ PDMHVWlWLVFKHQ %DXPJUXSSHQKLQGXUFKXQGYHUORUVLFKLP:DOGHVGLFNLFKW=XXQVHUHU/LQNHQ IKUWH GLHVHU :HJ EHU GLH VWHLOH PDOHULVFKH %UFNH LQ GHUHQ 1lKH HLQ YHUIDOOHQHU 7XUP VWDQG YRQ GHP DXV IUKHU GHU 3D EHZDFKW ZXUGH 8QG KLQWHU GLHVHU %UFNH HUKRE VLFK VFKURII HLQ EHZDOGHWHU %HUJ PLW

HIHXEHZDFKVHQHQ)HOVHQ hEHU GLH 7DOZLHVHQ VWDKOHQ VLFK GQQH 1HEHOVFKZDGHQ XQG KOOWHQ DOOHV LQ HLQHQ ]DUWHQ 6FKOHLHU +LHU XQG GD NRQQWH PDQ GHQ )OX LP 0RQGOLFKW VFKLPPHUQVHKHQ (V ZDU HLQ XQYHUJOHLFKOLFK IULHGYROOHU EHJOFNHQGHU $QEOLFN (U VWLPPWH PLFK GD LFK QRFK XQWHU GHP (LQGUXFN MHQHV %ULHIHV VWDQG ]ZDU UHFKW PHODQFKROLVFKGRFKGHUUXKLJHQ+HLWHUNHLWXQGGHPIDVWXQZLUNOLFKHQ=DXEHU GLHVHU 6]HQHULH NRQQWH DXFK LFK PLFK QLFKW HQW]LHKHQ =XVDPPHQ PLW PHLQHP 9DWHU GHQ GDV 0DOHULVFKH VWHWV HQW]FNW KDW VDK LFK VFKZHLJHQG LQ GLH QlFKWOLFKH /DQGVFKDIW KLQDXV +LQWHU XQV XQWHUKLHOWHQ VLFK GLH EHLGHQ (U]LHKHULQQHQ EHU GDV 3DQRUDPD XQG HUJLQJHQ VLFK LQ %HWUDFKWXQJHQ EHU GHQ0RQG 0DGDPH 3HUURGRQ EHOHLEW LQ PLWWOHUHQ -DKUHQ XQG URPDQWLVFK YHUDQODJW JDESRHWLVFKH(UJVVHXQG6HXI]HUYRQVLFK0DGHPRLVHOOH'H/DIRQWDLQH GLH HFKWH 7RFKWHU HLQHV 'HXWVFKHQ GHU ZLH HV KLH LQ GHU 3V\FKRORJLH XQG 0HWDSK\VLNEHZDQGHUWXQGVHOEVWVRHWZDVZLHHLQ0\VWLNHUZDUHUNOlUWH GD GHU 0RQGVFKHLQ YRQ VROFKHU ,QWHQVLWlW VSLULWXHOOHQ 9RUJlQJHQ EHNDQQWOLFK XQJHPHLQ I|UGHUOLFK VHL 'LH $XVZLUNXQJHQ HLQHV GHUDUW JOHLHQGHQ 9ROOPRQGHV VHLHQ YLHOIlOWLJ (U EHHLQIOXVVH 7UlXPH HEHQVR ZLH PRQGVFKWLJH XQG QHUY|VH 0HQVFKHQ XQG VWHKH LQ ZXQGHUEDUHP =XVDPPHQKDQJ PLW GHP /HEHQ DXI GHU (UGH 0DGHPRLVHOOH HU]lKOWH LKU &RXVLQ0DWURVHDXIHLQHP+DQGHOVVFKLIIVHLLQHLQHU1DFKW ZLH GLHVHU DXI 'HFN HLQJHVFKODIHQ DXI GHP 5FNHQ OLHJHQG GDV *HVLFKW GHP 0RQG ]XJHNHKUW XQG KDEH JHWUlXPW HLQH DOWH )UDX KDEH VLFK LQ VHLQH :DQJH YHUNUDOOW$OVHUHUZDFKWHVHLVHLQ*HVLFKWIXUFKWEDUYHU]HUUWJHZHVHQXQGELV KHXWHKDEHHVVHLQ(EHQPDQLFKWJDQ]]XUFNJHZRQQHQ 'HU 0RQG VDJWH VLH KDW KHXWH QDFKW VWDUNH RG\OLVFKH XQG PDJQHWLVFKH .UlIWH6HKHQ6LHQXUZLHGLH6FKORIHQVWHULQVHLQHP6LOEHUJODQ]IXQNHOQ XQGEOLW]HQ,VWHVQLFKWDOVKlWWHQXQVLFKWEDUH+lQGHGLH=LPPHUIU*lVWH DXVGHP(OIHQUHLFKHUOHXFKWHW" (V JLEW $XJHQEOLFNH LQ GHQHQ ZLU XQV QLFKW DXIUDIIHQ N|QQHQ DQ HLQHU 8QWHUKDOWXQJ WHLO]XQHKPHQ LQ GHQHQ MHGRFK GLH *HVSUlFKH DQGHUHU XQVHUHP WUlJHQ *HLVW ZRKOWXQ 6R VDK LFK ZlKUHQG LFK GHU DQJHQHKP SOlWVFKHUQGHQ .RQYHUVDWLRQGHU'DPHQODXVFKWHVWXPPLQGLH1DFKWKLQDXV

,FKELQKHXWHDEHQGZLHGHUHLQPDOUHFKWWUEVLQQLJVDJWHPHLQ9DWHUQDFK ODQJHP6FKZHLJHQXQGGDQQ]LWLHUWHHU6KDNHVSHDUHDXVGHVVHQ:HUNHQHU XQVYRU]XOHVHQSIOHJWHGDPLWXQVHU(QJOLVFKLQWDNWEOLHE

)UZDKULFKZHLQLFKWZDVPLFKWUDXULJPDFKW,FKELQHVVDWWLKUVDJW GDVVHLGLKUDXFK'RFKZLHLFKGUDQNDPZLHPLU VDQJHZHKW :LHHVZHLWHUJHKWZHLLFKQLFKWPHKU-HGHQIDOOVKDEHLFKGDV*HIKODOV OlJH JURHV 8QKHLO LQ GHU /XIW :DKUVFKHLQOLFK KDW GHU WUDXULJH %ULHI GHV *HQHUDOVHWZDVGDPLW]XWXQ ,QGLHVHP$XJHQEOLFNYHUQDKPHQZLUYRP:HJKHUGHQXQJHZRKQWHQ.ODQJ YRQ:DJHQUlGHUQXQG3IHUGHKXIHQ (U VFKLHQ VLFK YRQ GHU $QK|KH KLQWHU GHU %UFNH ]X QlKHUQ XQG WDWVlFKOLFK NRQQWHQZLUNXU]GDUDXIHLQH(TXLSDJHHUNHQQHQ=XHUVWVSUHQJWHQ]ZHL5HLWHU EHUGLH%UFNHGDQQHUVFKLHQHLQHYRQYLHU3IHUGHQJH]RJHQHQ.DURVVHGHU ZLHGHUXP]ZHL5HLWHUIROJWHQ 'DV*HIlKUWZDU RIIHQEDU GLH 5HLVHNXWVFKH HLQHU 3HUV|QOLFKNHLW YRQ 5DQJ *HEDQQWEHREDFKWHWHQZLUGDVVHOWHQH6FKDXVSLHO:HQLJH$XJHQEOLFNHVSlWHU ZXUGHHVQRFKGUDPDWLVFKHU*HUDGHDOVGLH.XWVFKHGHQK|FKVWHQ3XQNWGHU %UFNH SDVVLHUW KDWWH VFKHXWH HLQHV GHU /HLWSIHUGH GLH DQGHUHQ ZXUGHQ YRQ 3DQLNHUJULIIHQVFKOXJHQHLQSDDUPDOZLOGDXVGDVJDQ]H*HVSDQQYHUILHOLQ *DORSS UDVWH PLW GRQQHUQGHQ +XIHQ DQ GHQ 9RUUHLWHUQ YRUEHL XQG ZLH HLQ :LUEHOVWXUP DXI XQV ]X $XV GHU .XWVFKH GUDQJHQ GLH JHOOHQGHQ ODQJJH]RJHQHQ 6FKUHLH HLQHU )UDXHQVWLPPH XQG PDFKWHQ GLH 6]HQH QRFK HUUHJHQGHU 9RQ 1HXJLHU XQG (QWVHW]HQ JHSDFNW OLHIHQ ZLU HLQ 6WFN YRUZlUWV PHLQ 9DWHUVFKZHLJHQGZLUDQGHUHQVFKUHLHQG 'DVVSDQQHQGH6FKDXVSLHOIDQGHLQMlKHV(QGH.XU]YRUGHU=XJEUFNHVWHKW DQGHUHLQHQ6HLWHGHV:HJHVHLQHKHUUOLFKH/LQGHDQGHUDQGHUHQHLQ DOWHV 6WHLQNUHX]$OVGLHUDVHQGHQ3IHUGHGHP.UHX]DXVZHLFKHQZROOWHQJHULHWHQ GLH:DJHQUlGHUDXIGLHNQRUULJDXVGHP(UGERGHQUDJHQGHQ:XU]HOQ ,FK DKQWH ZDV QXQ JHVFKHKHQ ZUGH 8P HV QLFKW PLW DQVHKHQ ]X PVVHQ KLHOWLFKPLUGLH$XJHQ]XXQGZDQGWHPLFKDE,QGLHVHP0RPHQWK|UWHLFK PHLQH%HJOHLWHULQQHQGLHZHLWHUJHODXIHQZDUHQDXIVFKUHLHQ 'LH1HXJLHUEHZRJPLFKKLQ]XVHKHQ'DV'XUFKHLQDQGHUZDUXQEHVFKUHLEOLFK

=ZHL3IHUGHZDUHQJHVWU]WGLH.XWVFKHZDUXPJHNLSSW]ZHL5lGHUUDJWHQLQ GLH/XIW'LH0lQQHUYHUVXFKWHQGLH3IHUGHDXV]XVFKLUUHQ(LQH'DPHYRQ LPSRVDQWHU 6WDWXU XQG +DOWXQJ VWDQG QHEHQ GHP *HIlKUW UDQJ GLH +lQGH XQG IKUWH LPPHU ZLHGHU LKU 7DVFKHQWXFK DQ GLH $XJHQ 'DQQ ZXUGH GLH UHJXQJVORVH*HVWDOWHLQHVMXQJHQ0lGFKHQVDXVGHU.XWVFKHJHKREHQ0HLQ JXWHUDOWHU9DWHUZDUEHUHLWVDQGHU6HLWHGHUlOWHUHQ'DPHKDWWHGHQ+XW JH]RJHQXQGERWLKURIIHQEDUVHLQH+LOIHXQG*DVWIUHXQGVFKDIWDQ6LHMHGRFK VFKLHQ VHLQH :RUWH QLFKW ]X K|UHQ VLH KDWWH QXU $XJHQ IU GDV VFKODQNH 0lGFKHQ GDV MHW]W DQ GHU 8IHUE|VFKXQJ QLHGHUJHOHJW ZXUGH ,FK JLQJ ODQJVDP DXI GLH *UXSSH ]X 'LH MXQJH 'DPH OHEWH VFKLHQ MHGRFK HLQHQ VFKZHUHQ6FKRFNHUOLWWHQ]XKDEHQ0HLQ9DWHUGHUVLFKIUHLQHQKDOEHQ$U]W KLHOWIKOWHJHUDGHLKUHQ3XOVXQGYHUVLFKHUWHGHUDQGHUHQ'DPHGLHVLFKDOV GLH 0XWWHU GHV 0lGFKHQV DXVJDE HU N|QQH LKQ VSUHQ ZHQQ DXFK VFKZDFK XQG XQUHJHOPlLJ 'DUDXIKLQ IDOWHWH VLH GLH +lQGH XQG EOLFNWH ZLH YRQ 'DQNEDUNHLWEHUZlOWLJWJHQ+LPPHO$EHUVRIRUWYHUILHOVLHZLHGHULQMHQH WKHDWUDOLVFKH $WWLWGH GLH PHLQHU 0HLQXQJ QDFK EHVWLPPWHQ 0HQVFKHQ DQJHERUHQLVW )U LKU $OWHU ZDU VLH HLQH JXWDXVVHKHQGH )UDX XQG IUKHU GUIWH VLH VRJDU KEVFK JHZHVHQ VHLQ 6LH ZDU KRFKJHZDFKVHQ DEHU QLFKW KDJHU WUXJ VFKZDU]HQ6DPWVDK]LHPOLFKEODDXVXQGKDWWHVWRO]HKHUULVFKH=JHGLH MHW]WDOOHUGLQJV(UUHJXQJYHUULHWHQ :DU MHPDOV HLQ 0HQVFK VR YRP 8QJOFN YHUIROJW ZLH LFK" VDJWH VLH XQG UDQJGLH+lQGH,FKEHILQGHPLFKDXIHLQHU5HLVHEHLGHUHVXP/HEHQXQG 7RGJHKW(LQHHLQ]LJH6WXQGHYHUOLHUHQKHLWYLHOOHLFKWDOOHVYHUOLHUHQ:DQQ PHLQH 7RFKWHU ZRKO JHVXQG JHQXJ VHLQ ZLUG XP GLH )DKUW IRUW]XVHW]HQ LVW XQJHZL ,FK PX VLH ]XUFNODVVHQ GHQQ LFK NDQQ XQG GDUI QLFKW VlXPHQ .|QQHQ6LHPHLQ+HUUPLUVDJHQZLHZHLWHVELV]XPQlFKVWHQ'RUILVW" ,FK PX VLH GRUW XQWHUEULQJHQ XQG GDQQ ZHUGH LFK PHLQHQ /LHEOLQJ GUHL 0RQDWHODQJQLFKWVHKHQMDQLFKWHLQPDOYRQLKPK|UHQ ,FK ]XSIWH PHLQHQ 9DWHU DP 5RFN XQG IOVWHUWH LKP DXIJHUHJW ]X 3DSD IUDJGRFKREZLUVLHKLHUEHKDOWHQGUIHQHVZlUHKHUUOLFK%LWWHIUDJVLH GRFK )DOOV0DGDPHLKU.LQGGHU3IOHJHPHLQHU7RFKWHUXQGLKUHU*RXYHUQDQWH 0DGDPH 3HUURGRQ DQYHUWUDXHQ XQG HUODXEHQ ZROOWHQ GD GLH MXQJH 'DPH

ELV ]X 0DGDPHV 5FNNHKU *DVW XQVHUHV +DXVHV XQWHU PHLQHU 2EKXW LVW ZUGHQ ZLU XQV JHHKUW IKOHQ XQG LKU GLH )UVRUJH DQJHGHLKHQ ODVVHQ GLH HLQHPVRWHXUHQ6FKW]OLQJ]XVWHKW 'HPNDQQLFKXQP|JOLFK]XVWLPPHQPHLQ+HUUGHQQGDVKLHH,KUH*WH XQG5LWWHUOLFKNHLWVFKDPORVDXVQXW]HQHUZLGHUWHGLH'DPHYHUZLUUW *DQ]LP*HJHQWHLO6LHZUGHQXQVGDPLWHLQHQJURHQ*HIDOOHQHUZHLVHQ XQG]ZDUJHUDGHLQHLQHP$XJHQEOLFNGDZLUVHLQHUGULQJHQGEHGUIHQ0HLQH 7RFKWHULVWKHXWHELWWHUHQWWlXVFKWZRUGHQHLQJUDXVDPHV0LJHVFKLFNKDWVLH XPHLQHQ*DVWJHEUDFKWDXIGHVVHQ%HVXFKVLHVLFKVHLWODQJHPJHIUHXWKDW (VZLUGLKUHLQJURHU7URVWVHLQZHQQ6LHXQVGLHMXQJH'DPHDQYHUWUDXHQ 'DVQlFKVWH'RUIDXI,KUHU5RXWHLVWZHLWHQWIHUQWXQGKDWNHLQ*DVWKDXVLQ GHP 6LH ,KUH 7RFKWHU HLQTXDUWLHUHQ N|QQWHQ ,KU MHW]W HLQH OlQJHUH )DKUW ]X]XPXWHQ ZlUH JHIlKUOLFK :HQQ 6LH VLFK ZLUNOLFK NHLQH 8QWHUEUHFKXQJ OHLVWHQ N|QQHQ PVVHQ 6LH VLFK QRFK KHXWH QDFKW YRQ LKU WUHQQHQ XQG QLUJHQGVZLUGLKUHLQHOLHEHYROOHUH3IOHJH]XWHLOZHUGHQDOVEHLXQV 'DV$XIWUHWHQXQGGLH(UVFKHLQXQJGHU'DPHKDWWHHWZDVVR'LVWLQJXLHUWHV MD $FKWXQJJHELHWHQGHV GD PDQ VHOEVW ZHQQ PDQ GLH YRUQHKPH (TXLSDJH QLFKW JHVHKHQ KlWWH VLFKHU JHZHVHQ ZlUH HLQH 3HUV|QOLFKNHLW YRQ 5DQJ XQG 1DPHQYRUVLFK]XKDEHQ ,Q]ZLVFKHQVWDQGGLH.XWVFKHZLHGHUDXIGHQ5lGHUQGLH3IHUGHKDWWHQVLFK EHUXKLJWXQGZDUHQZLHGHUDQJHVFKLUUW 'LH'DPHZDUILKUHU7RFKWHUHLQHQ%OLFN]XGHUPLUQLFKWJDQ]VROLHEHYROO YRUNDPZLHHVQDFKGHP9RUDXVJHJDQJHQHQ]XHUZDUWHQJHZHVHQZlUH'DQQ ZLQNWH VLH PHLQHQ 9DWHU ]X VLFKXQG UHGHWH HUQVW XQG EHVWLPPWDXI LKQ HLQ JDQ]DQGHUVDOV]XYRU ,FK ZDU VHKU HUVWDXQW GD PHLQ 9DWHU GLHVH :DQGOXQJ QLFKW ]X EHPHUNHQ VFKLHQDEHUDXFKXQEHVFKUHLEOLFKQHXJLHULJ]XHUIDKUHQZDVVLHLKPVRHLOLJ ]XJHIOVWHUWKDWWH 'DV*DQ]HGDXHUWH]ZHLK|FKVWHQVGUHL0LQXWHQGDQQZDQGWHVLHVLFKDEXQG JLQJ KLQEHU ]X LKUHU 7RFKWHU GLH YRQ 0DGDPH 3HUURGRQ JHVWW]W QRFK LPPHUDXIGHU(UGHODJ'LH'DPHNQLHWHHLQHQ$XJHQEOLFNEHLLKUQLHGHUXQG IOVWHUWH LKU HWZDV ]X GDV 0DGDPH IU HLQHQ NXU]HQ 6HJHQVZXQVFK KLHOW 'DQQ NWH VLH VLH KDVWLJ EHVWLHJ GLH .XWVFKH GLH :DJHQWU ZXUGH JHVFKORVVHQGLH/DNDLHQLQLKUHQSUlFKWLJHQ/LYUHHQVSUDQJHQKLQWHQDXIGLH

9RUUHLWHU JDEHQ GHQ 3IHUGHQ GLH 6SRUHQ GLH .XWVFKHU OLHHQ GLH 3HLWVFKHQ NQDOOHQGLH3IHUGHVWDPSIWHQSUHVFKWHQORVDOVZROOWHQVLHVRIRUWZLHGHULQ ZLOGHQ *DORSS IDOOHQ XQG GLH .DURVVH MDJWH GDYRQ JHIROJW YRQ GHQ EHLGHQ 1DFKUHLWHUQ

,,,:LUWDXVFKHQ(ULQQHUXQJHQDXV :LU VDKHQ GHU 'DPH XQG LKUHP *HIROJH QDFK ELV VLH LP QHEOLJHQ :DOG YHUVFKZXQGHQ ZDUHQ XQG ODXVFKWHQ GHP .ODQJ GHU +XIH XQG 5lGHU ELV HU VLFKLQGHU1DFKWYHUORU 'HU HLQ]LJH %HZHLV GDIU GD ZLU GLHVHV $EHQWHXHU QLFKW QXU JHWUlXPW KDWWHQZDUGLHMXQJH'DPHGLHLQGLHVHP0RPHQWGLH$XJHQDXIVFKOXJ,KU *HVLFKWZDUPLUDEJHZDQGWDEHULFKVDKZLHVLHGHQ.RSIKRERIIHQEDUXP VLFK]XRULHQWLHUHQXQGK|UWHVLHPLWVDQIWHUNODJHQGHU6WLPPHIUDJHQ:R LVW0DPD" 8QVHUHWUHXH0DGDPH3HUURGRQEHVFKZLFKWLJWHVLHLQOLHEHYROOHP7RQ 'DQQK|UWHLFKGDV0lGFKHQIUDJHQ :RELQLFK":DUXPOLHJHLFKKLHU"8QGGDQQ:RLVWGLH.XWVFKH"8QG ZRLVW0DWVND" 0DGDPH EHDQWZRUWHWH LKUH )UDJHQ VRZHLW VLH LKU YHUVWlQGOLFK ZDUHQ $OOPlKOLFK HULQQHUWH VLFK GLH MXQJH 'DPH GHV XQJOFNVHOLJHQ 9RUIDOOV XQG ]HLJWH VLFK HUIUHXW GDUEHU GD ZHGHU GLH ,QVDVVHQ GHU .XWVFKH QRFK GLH %HGLHQVWHWHQ YHUOHW]W ZDUHQ $OV VLH HUIXKU GD GLH 0XWWHU VLH ELV ]X LKUHU 5FNNHKULQGUHL0RQDWHQKLHU]XUFNJHODVVHQKDWWHEHJDQQVLH]XZHLQHQ ,FKZROOWH]XLKUJHKHQXPVLHJHPHLQVDPPLW0DGDPH3HUURGRQ]XWU|VWHQ GRFK0DGHPRLVHOOH'H/DIRQWDLQHKLHOWPLFK]XUFN *HKQLFKWKLQ6LHGDUIMHW]WQLFKW]XYLHOVSUHFKHQ'LHJHULQJVWH(UUHJXQJ N|QQWH LKU VFKDGHQ 6REDOG VLH UXKLJ LP %HWW OLHJW GDFKWH LFK EHL PLU JHKHLFKKLQDXIXQGEHVXFKHVLH ,Q]ZLVFKHQ KDWWH PHLQ 9DWHU HLQHQ 'LHQHU EHDXIWUDJW ]XP $U]W GHU HWZD VHFKV 0HLOHQ HQWIHUQW ZRKQWH ]X UHLWHQ ,P 6FKOR ZXUGH EHUHLWV HLQ 6FKODI]LPPHU IU GLH MXQJH 'DPH KHUJHULFKWHW 1XQ HUKRE VLFK GLH )UHPGH

XQG JLQJ DXI 0DGDPHV $UP JHVWW]W ODQJVDP EHU GLH =XJEUFNH XQG GXUFKV6FKORWRU,QGHU+DOOHVWDQGHQ%HGLHQVWHWHEHUHLWXPVLH]XLKUHP =LPPHU]XEHJOHLWHQ 'HU 5DXP GHQ ZLU JHZ|KQOLFK DOV 6DORQ EHQXW]WHQ LVW ODQJ XQG KDW YLHU )HQVWHUGLHDXIGHQ%XUJJUDEHQGLH=XJEUFNHXQGGLHHLQJDQJVEHVFKULHEHQH :DOGOLFKWXQJ KLQDXVJHKHQ (U LVW PLW DOWHQ JHVFKQLW]WHQ (LFKHQP|EHOQ GDUXQWHU HLQLJH VFKZHUH 6FKUlQNH DXVJHVWDWWHW GLH 6WKOH VLQG PLW URWHP 8WUHFKWHU 6DPW JHSROVWHUW DQ GHQ :lQGHQ KlQJHQ *REHOLQV LQ VFKZHUHQ *ROGUDKPHQ DXI GHQHQ OHEHQVJURH )LJXUHQ LQ ZXQGHUOLFKHQ DOWPRGLVFKHQ *HZlQGHUQ EHL GHU -DJG GHU )DONQHUHL XQG YHUVFKLHGHQHQ )HVWOLFKNHLWHQ ]X VHKHQVLQG7URW]GHPLVWGLHVHV=LPPHUQLFKWVRSUlFKWLJGDPDQVLFKGDULQ QLFKWEHKDJOLFKJHIKOWKlWWH:LUIDQGHQXQVGRUWJHZ|KQOLFK]XP7HHHLQ 0HLQ9DWHUZDUQlPOLFKSDWULRWLVFKJHQXJXPGDUDXI]XEHVWHKHQGDQHEHQ .DIIHH XQG 6FKRNRODGH DXFK GDV HQJOLVFKH 1DWLRQDOJHWUlQN UHJHOPlLJ VHUYLHUWZXUGH ,QMHQHU1DFKWDOVRVDHQZLUGRUW]XVDPPHQXQGXQWHUKLHOWHQXQVEHUGDV VRHEHQ (UOHEWH $XFK 0DGDPH 3HUURGRQ XQG 0DGHPRLVHOOH 'H /DIRQWDLQH ZDUHQDQZHVHQG 'LH MXQJH )UHPGH ZDU VRIRUW QDFK GHP =XEHWWJHKHQ LQ WLHIHQ 6FKODI JHVXQNHQ XQG GLH EHLGHQ 'DPHQ KDWWHQ HLQH 'LHQHULQ EHDXIWUDJW EHL LKU ]X ZDFKHQ :LH JHIlOOW ,KQHQ XQVHU *DVW" IUDJWH LFK 0DGDPH DOV VLH LQV =LPPHU WUDW(U]lKOHQ6LHPLUDOOHVZDV6LHYRQLKUZLVVHQ 6LH JHIlOOW PLW DXHUJHZ|KQOLFK JXW ,FK JODXEH HLQ KEVFKHUHV *HVFK|SI KDEHLFKQRFKQLHJHVHKHQ6LHLVWXQJHIlKULQGHLQHP$OWHUXQGVLHLVWVHKU OLHEXQGQHWW 6LH LVW DXVJHVSURFKHQ VFK|Q ZDUI 0DGHPRLVHOOH HLQ GLH HLQHQ %OLFN LQV =LPPHUGHU)UHPGHQJHZRUIHQKDWWH 8QGVLHKDWHLQHVRVDQIWH6WLPPHVHW]WH0DGDPH3HUURGRQKLQ]X +DEHQ6LHDOVGLH.XWVFKHZLHGHUDXIJHULFKWHWZDUHLQH)UDXEHPHUNWGLH QLFKW DXVJHVWLHJHQ ZDU XQG QXU DXV GHP )HQVWHU VFKDXWH" IUDJWH 0DGHPRLVHOOH :LUKDWWHQVLHQLFKWJHVHKHQ 1XQ EHULFKWHWH VLH YRQ HLQHU XQKHLPOLFKHQ VFKZDU]HQ *HVWDOW GLH HLQH $UW

IDUELJHQ 7XUEDQ JHWUDJHQ GLH JDQ]H =HLW DXV GHP :DJHQ JHVWDUUW XQG GHQ 'DPHQ K|KQLVFK ]XJHQLFNW XQG ]XJHJULQVW KDEH PLW JOLW]HUQGHP %OLFN XQG ZLHYRU:XWJHIOHWVFKWHQ=lKQHQ ,VW,KQHQDXIJHIDOOHQZDVIUHLQHZVWH+RUGHGLH%HGLHQVWHWHQZDUHQ" IUDJWH0DGDPH -D HUZLGHUWH PHLQ 9DWHU GHU JHUDGH HLQJHWUHWHQ ZDU KlOLFKHUH *DOJHQY|JHOVLQGPLUQRFKQLHEHUGHQ:HJJHODXIHQ,FKKRIIHQXUGDVLH GLHDUPH'DPHQLFKWLP:DOG DXVUDXEHQ ZHUGHQ $EHU JHVFKLFNW VLQG GLHVH 6FKXUNHQ,P+DQGXPGUHKHQZDUDOOHVZLHGHULQ2UGQXQJ ,FKJODXEHIDVWVLHZDUHQYRQGHUODQJHQ5HLVHHUVFK|SIWVDJWH0DGDPH 6LH PDFKWHQ ]ZDU HLQHQ YHUUXFKWHQ (LQGUXFN DEHU LKUH *HVLFKWHU ZDUHQ DXIIDOOHQGKDJHUXQGZLUNWHQGVWHUXQGYHUGURVVHQ,FKJHEH]XGDPLFKGLH 1HXJLHU TXlOW $EHU VLFKHU ZLUG XQV GLH MXQJH 'DPH PRUJHQ ZHQQ VLH VLFK HLQLJHUPDHQHUKROWKDWDOOHVHU]lKOHQ 'DV JODXEH LFK QLFKW VDJWH PHLQ 9DWHU OlFKHOWH JHKHLPQLVYROO XQG QLFNWH YRUVLFKKLQDOVZWHHUHWZDVGDVHUXQVQLFKWVDJHQZROOWH 1XQ EUDQQWH LFK QRFK PHKU GDUDXI ]X HUIDKUHQ ZRYRQ HU XQG GLH 'DPH LQ 6FKZDU] ZlKUHQG GHU NXU]HQ HUQVWHQ 8QWHUKDOWXQJ YRU LKUHU $EIDKUW JHVSURFKHQKDWWHQ .DXPZDULFKPLWLKPDOOHLQGDEHVWUPWHLFKLKQDXFKVFKRQPLW)UDJHQ(U OLHVLFKQLFKWODQJHELWWHQ ,FKVHKHNHLQHQEHVRQGHUHQ*UXQGZDUXPLFKHVGLUYHUKHLPOLFKHQVROOWH6LH lXHUWH%HGHQNHQXQVPLWGHU3IOHJHLKUHU7RFKWHU]XEHODVWHQGDGLHVHYRQ ]DUWHU*HVXQGKHLWXQGVHKUQHUY|VVHL6LHIJWHYRQVLFKDXVKLQ]XGDGDV 0lGFKHQ DOOHUGLQJV ZHGHU DQ SO|W]OLFKHQ $QIlOOHQ QRFK DQ :DKQYRUVWHOOXQJHQOHLGHDOVRY|OOLJQRUPDOVHL +|FKVW VHOWVDP VR HWZDV ]X VDJHQ ZDUI LFK HLQ 'DV ZDU GRFK JDQ] XQQ|WLJ 1XQ VLH KDW HV MHGHQIDOOV JHVDJW HUZLGHUWH HU ODFKHQG XQG GD GX DOOHV ZDVJHVSURFKHQZXUGHZLVVHQZROOWHVWXQGHVZDUZHQLJJHQXJKDEHLFK DXFKGDVHUZlKQW$XHUGHPVDJWHVLHIROJHQGHV ,FKEHILQGHPLFKDXIHLQHU ODQJHQ OHEHQVZLFKWLJHQ 5HLVH VLH EHWRQWH GLHVHV :RUW GLH HLOLJ XQG JHKHLPLVW,QGUHL0RQDWHQZHUGHLFKPHLQH7RFKWHUDEKROHQLQ]ZLVFKHQDEHU ZLUG VLH PLW NHLQHP :RUW HUZlKQHQ ZHU ZLU VLQG ZRKHU ZLU NRPPHQ XQG

ZRKLQ ZLU UHLVHQ 0HKU VDJWH VLH QLFKW 6LH VSUDFK EULJHQV DN]HQWIUHLHV )UDQ]|VLVFK1DFKGHP:RUW JHKHLP ]|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lUH PLU HEHQVR XQP|JOLFK JHZHVHQ ZLH ]X )X GLH .XWVFKH HLQ]XKROHQLQGHUGLHIUVWOLFKH'DPHLQVFKZDU]HP6DPWGDYRQJHIDKUHQZDU $OVGHU$U]W]XXQVKHUXQWHUNDPEUDFKWHHUJXWH1DFKULFKWHQ'LH3DWLHQWLQ KDWWH VLFK LP %HWW DXIJHVHW]W LKU 3XOV ZDU UHJHOPlLJ XQG VLH IKOWH VLFK RIIHQEDU ZLHGHU ZRKO 6LH ZDU QLFKW YHUOHW]W XQG KDWWH GHQ OHLFKWHQ 1HUYHQVFKRFN JXW EHUVWDQGHQ )DOOV LFK VLH EHVXFKHQ ZROOH KDEH HU QLFKWV GDJHJHQ HLQ]XZHQGHQ 8QG VR OLH LFK EHL LKU DQIUDJHQ RE LFK DXI HLQ SDDU 0LQXWHQ]XLKUNRPPHQGUIH 'DV 'LHQVWPlGFKHQ ULFKWHWH PLU NXU] GDUDXI DXV VLH ZQVFKH VLFK QLFKWV VHKQOLFKHUDOVPHLQHQ%HVXFK 6LHN|QQHQVLFKYRUVWHOOHQZLHUDVFKLFKGLHVHU$XIIRUGHUXQJQDFKNDP 8QVHU *DVW ODJ LQ HLQHP GHU SUlFKWLJVWHQ =LPPHU GHV 6FKORVVHV (V ZDU YLHOOHLFKW HWZDV ]X SRPS|V 'HP %HWW JHJHQEHU KLQJ HLQ GVWHUHU *REHOLQ GHU.OHRSDWUDPLWGHQ6FKODQJHQDQGHU%UXVW]HLJWHXQGDXFKGLHDQGHUHQ :lQGHZDUHQPLWOHLFKWYHUEODWHQ'DUVWHOOXQJHQHUQVWHUNODVVLVFKHU0RWLYH EHGHFNW$EHUGDVYHUJROGHWH6FKQLW]ZHUNXQGGLHVDWWHQ)DUEHQGHUEULJHQ $XVVWDWWXQJPDFKWHQGHQEHGUFNHQGHQ(LQGUXFNGHUDOWHQ*REHOLQVPHKUDOV ZHWW $P%HWWEUDQQWHQ.HU]HQ6LHKDWWHVLFKDXIJHULFKWHWGHQVFK|QHQVFKODQNHQ .|USHU XPKOOWH GHU ZHLFKH VHLGHQH EOXPHQEHVWLFNWH XQG PLW JHVWHSSWHP 6HLGHQIXWWHUDXVJHVFKODJHQH0RUJHQURFNGHQGLH0XWWHULKUDOVVLHGUDXHQ DXIGHU(UGHODJEHUGLH)HJHZRUIHQKDWWH:DVZDUHVZRKOGDVPLFK DOV LFK DQV %HWW WUDW XQG JHUDGH HLQ SDDU %HJUXQJVZRUWH VDJHQ ZROOWH

DXJHQEOLFNOLFKYHUVWXPPHQXQGHLQSDDU6FKULWWH]XUFNZHLFKHQOLH",FKZLOO HV,KQHQVDJHQ ,FKEOLFNWHLQMHQHV*HVLFKWGDVPLUHLQVWLQGHU.LQGKHLWQDFKWVHUVFKLHQHQ ZDUGDVVLFKPHLQHP*HGlFKWQLVHLQJHSUlJWXQGEHUGDVLFKYLHOH-DKUHODQJ YROOHU(QWVHW]HQQDFKJHJUEHOWKDWWHRKQHGDGLHDQGHUHQHVDKQWHQ (VZDUKEVFKVRJDUVFK|QXQGHVKDWWHHLQHQ$XJHQEOLFNODQJGHQJOHLFKHQ PHODQFKROLVFKHQ$XVGUXFNZLHGDPDOV 'RFKLP QlFKVWHQ 0RPHQW ZLFK GLHVHU $XVGUXFN HLQHP HLJHQWPOLFK VWDUUHQ /lFKHOQGHV:LHGHUHUNHQQHQV (LQHYROOH0LQXWHODQJKHUUVFKWH6FKZHLJHQGDQQEHJDQQVLH]XVSUHFKHQLFK ZDUQLFKWIlKLJGD]X :LHZXQGHUEDUULHIVLH9RU]Z|OI-DKUHQLVWPLULKU*HVLFKWLP7UDXPH HUVFKLHQHQXQGVHLWGHPKDWHVPLFKVWlQGLJYHUIROJW (V LVW ZLUNOLFK ZXQGHUEDU HUZLGHUWH LFK PKVDP GHQ 6FKUHFNHQ EHUZLQGHQGGHUPLFKVSUDFKORVJHPDFKWKDWWH9RU]Z|OI-DKUHQKDEHDXFK LFK6LHJHVHKHQLP7UDXPHRGHULP:DFKHQ,FKNRQQWH,KU*HVLFKWQLFKW PHKUYHUJHVVHQ6WHWVKDEHLFKHVVHLWGHPYRU$XJHQJHKDEW ,KU /lFKHOQ ZDU VDQIW JHZRUGHQ :DV LPPHU PLFK GDUDQ VHOWVDP EHUKUW KDWWH ZDU YHUVFKZXQGHQ -HW]W ZLUNWH HV LP 9HUHLQ PLW LKUHQ NOHLQHQ *UEFKHQDXIUHL]HQGXQGNOXJ]XJOHLFK ,FK IKOWH PLFK EHUXKLJW EHVDQQ PLFK PHLQHU *DVWJHEHUUROOH VDJWH LKU ZLH VHKUZLUDOOHXQVEHULKUHQXQHUZDUWHWHQ%HVXFKIUHXWHQXQGGDLFKGDUEHU EHVRQGHUVJOFNOLFKVHL:lKUHQGLFKVSUDFKIDWHLFKQDFKLKUHU+DQG,FK ZDU HLQ ZHQLJ VFKHX ZLH DOOH HLQVDPHQ 0HQVFKHQ GLHVH %HJHJQXQJ DEHU PDFKWHPLFKEHUHGVDPMDNKQ'LH)UHPGHGUFNWHPHLQH+DQGEHGHFNWHVLH PLWGHULKUHQXQGLKUH$XJHQVWUDKOWHQDOVVLHPLUHLQHQ%OLFN]XZDUIZLHGHU OlFKHOWHXQGHUU|WHWH 6LH GDQNWH OLHEHQVZUGLJ IU PHLQHQ :LOONRPPHQVJUX 1RFK LPPHU VWDXQHQGVHW]WHLFKPLFK]XLKU ,FK PX ,KQHQ YRQ PHLQHU 9LVLRQ HU]lKOHQ EHJDQQ VLH (V LVW ZLUNOLFK VHKUVHOWVDP GD ZLU EHLGH VR OHEKDIW YRQHLQDQGHU JHWUlXPW KDEHQ XQG MHGH GLHDQGHUHVRJHVHKHQKDWZLHVLHKHXWHLVWREZRKOZLUGDPDOVQRFK.LQGHU ZDUHQ ,FK ZDU XQJHIlKU VHFKV -DKUH DOW XQG HUZDFKWH LQ MHQHU 1DFKW DXV HLQHPZLUUHQTXDOYROOHQ7UDXPIDQGPLFKLQHLQHP5DXPGHUQLFKWPHLQHP

.LQGHU]LPPHU JOLFK VRQGHUQ PLW UDXKHP GXQNOHP +RO] YHUNOHLGHW XQG PLW 6FKUlQNHQ %HWWHQ 6WKOHQ XQG %lQNHQ DXVJHVWDWWHW ZDU 'LH %HWWHQ VFKLHQHQ DOOH OHHU ]X VHLQ VR GD LFK JODXEWH DXHU PLU VHL QLHPDQG LP =LPPHU 1DFKGHP LFK PLFK HLQH =HLWODQJ XPJHVHKHQ XQG YRU DOOHP HLQHQ ]ZHLDUPLJHQ HLVHUQHQ /HXFKWHU GHQ LFK MHGHU]HLW ZLHGHUHUNHQQHQ ZUGH EHZXQGHUWKDWWHNURFKLFKXQWHUHLQVGHU%HWWHQXPYRQGRUWDXV]XP)HQVWHU ]XJHODQJHQ$OVLFKJHUDGHZLHGHUDXIWDXFKWHK|UWHLFKMHPDQGHQZHLQHQXQG DOVLFKQRFKDP%RGHQNQLHQGDXIVDKHUEOLFNWHLFK6LHZLH6LHOHLEHQXQG OHEHQ,KU$QEOLFNHQW]FNWHPLFK,FKNOHWWHUWHDXIV%HWWVFKODQJGLH$UPH XP 6LH XQG VRYLHO LFK ZHL VFKOLHIHQ ZLU JHPHLQVDP HLQ ,FK ZXUGH YRQ HLQHP6FKUHLJHZHFNW6LHVDHQLP%HWWXQGVFKULHQ9RQ)XUFKWJHSDFNW OLH LFK PLFK DXI GHQ %RGHQ JOHLWHQ XQG YHUORU DQVFKHLQHQG IU HLQHQ $XJHQEOLFNGDV%HZXWVHLQ$OVLFK]XPLUNDPZDULFKZLHGHU]X+DXVHLP .LQGHU]LPPHU ,KU *HVLFKW KDEH LFK QLH ZLHGHU YHUJHVVHQ N|QQHQ 9RQ HLQHU EORHQbKQOLFKNHLWZUGHLFKPLFKQLFKWQDUUHQODVVHQ6LHVLQGGLH'DPHGLH LFKLQMHQHU1DFKWVDK -HW]W ZDU HV DQ PLU YRQ GHU (UVFKHLQXQJ ]X EHULFKWHQ XQG LFK WDW HV ]XP XQYHUKOOWHQ6WDXQHQPHLQHUQHXHQ%HNDQQWHQ ,FKZHLQLFKWZHUYRQXQVEHLGHQVLFKDPPHLVWHQYRUGHUDQGHUHQIUFKWHQ VROOWHVDJWHVLHOlFKHOQG:lUHQ6LHZHQLJHUKEVFKKlWWHLFKVLFKHUJURH $QJVWYRU,KQHQDEHUZHQQLFK6LHVRDQVHKHXQGEHGHQNHZLHMXQJZLUEHLGH VLQG LVW HV PLU DOV NHQQH LFK 6LH VHLW ]Z|OI -DKUHQ XQG KlWWH EHUHLWV HLQ 5HFKWDXI,KUH)UHXQGVFKDIW-HGHQIDOOVVFKHLQWHVDOVVHLHVXQVEHLGHQYRQ .LQGKHLW DQ EHVWLPPW JHZHVHQ )UHXQGLQQHQ ]X ZHUGHQ ,FK ZWH JHUQ RE 6LHVLFKHEHQVRVHOWVDP]XPLUKLQJH]RJHQIKOHQZLHLFKPLFK]X,KQHQ,FK KDEHQLHPDOVHLQH)UHXQGLQJHKDEWRELFKZRKOMHW]WHLQHILQGHQZHUGH"6LH VHXI]WHXQGVDKPLFKPLWLKUHQVFK|QHQGXQNOHQ$XJHQOHLGHQVFKDIWOLFKDQ 8P GLH :DKUKHLW ]X VDJHQ ,FK ZDU PLU EHU PHLQH (PSILQGXQJHQ XQG *HIKOHIUGLHVFK|QH)UHPGHQLFKWLPNODUHQ,FKIKOWHPLFK]ZDU ]XLKU KLQJH]RJHQ ZLHVLHHVQDQQWHJOHLFK]HLWLJDEHUZDULFKLUJHQGZLHDEJHVWRHQ ,QGLHVHPLQQHUHQ=ZLHVSDOWZDUMHGRFKGLH$Q]LHKXQJVNUDIWGLHVLHDXIPLFK DXVEWHPlFKWLJHU'LH)UHPGHLQWHUHVVLHUWHPLFKXQGHVJHODQJLKUPLFK]X HUREHUQ6LHZDUVRVFK|QXQGKDWWHHLQXQEHVFKUHLEOLFKJHZLQQHQGHV:HVHQ $OVLFK=HLFKHQGHU(UPDWWXQJXQG(UVFK|SIXQJDQLKUZDKUQDKPEHHLOWHLFK

PLFKLKU*XWHQDFKW]XVDJHQ 'HU$U]WP|FKWHIJWHLFKKLQ]XGDKHXWHQDFKWMHPDQGEHL,KQHQZDFKW (LQHV XQVHUHU 0lGFKHQ KDW VLFK EHUHLW HUNOlUW HLQH WFKWLJH UXKLJH 3HUVRQ ZLH6LHVHKHQZHUGHQ :LH JWLJ YRQ ,KQHQ DEHU LFK N|QQWH QLFKW VFKODIHQ ZHQQ HLQ 'LHQVWERWH DQZHVHQGZlUHLFKKDEHHVQLHJHNRQQW,FKZHUGHNHLQH+LOIHEUDXFKHQ8QG QRFKHWZDVVROOLFK,KQHQGLHVH6FKZlFKHJHVWHKHQ"LFKOHEHLQVWlQGLJHU )XUFKW YRU (LQEUHFKHUQ 8QVHU +DXV LVW HLQPDO DXVJHUDXEW ZRUGHQ XQG VHLWGHPVFKOLHHLFKLPPHUPHLQH7UDE,FKKDEHPLFKGDUDQJHZ|KQWXQG 6LHPDFKHQHLQHQVRYHUVWlQGQLVYROOHQ(LQGUXFNGD6LHHVPLUVLFKHUQLFKW YHUEHOQZHUGHQ:LHLFKVHKHVWHFNWGHU6FKOVVHOLP7UVFKOR 3O|W]OLFKHLQHQ$XJHQEOLFNODQJVFKODQJVLHGLH$UPHXPPLFKGUFNWHPLFK DQVLFKXQGIOVWHUWHPLU]X*XWH1DFKW/LHEVWHHVIlOOWPLUVFKZHU6LH JHKHQ ]X ODVVHQ DEHU QXQ *XWH 1DFKW 0RUJHQ ZHQQ DXFK QLFKW ]X IUK VHKHQZLUXQVZLHGHU 0LW HLQHP 6HXI]HU VDQN VLH LQ GLH .LVVHQ LKUH VFK|QHQ $XJHQ EOLFNWHQ PLU ]lUWOLFKXQGVFKZHUPWLJQDFKXQGQRFK HLQPDOPXUPHOWH VLH *XWH 1DFKW OLHEVWH)UHXQGLQ -XQJH0HQVFKHQYHUVFKHQNHQLKUH6\PSDWKLHXQGVRJDULKUH/LHEHVSRQWDQ ,FKIKOWHPLFKJHVFKPHLFKHOWYRQGHUXQYHUKOOWHQZHQQDXFKQRFKJlQ]OLFK XQYHUGLHQWHQ =XQHLJXQJ GLH VLH PLU HQWJHJHQEUDFKWH (V JHILHO PLU GD VLH PLUVRIRUW9HUWUDXHQVFKHQNWH6LHVFKLHQHQWVFKORVVHQPLFK]XU)UHXQGLQ]X JHZLQQHQ $PQlFKVWHQ7DJVDKHQZLUXQVZLHGHU,FKZDUYRQPHLQHUQHXHQ*HIlKUWLQ HQW]FNWGDVKHLWLFKZDUHVLQYLHOHU+LQVLFKW 'DV 7DJHVOLFKW EHHLQWUlFKWLJWH LKU $XVVHKHQ QLFKW LP PLQGHVWHQ VLH ZDU ]ZHLIHOVRKQH GDV VFK|QVWH *HVFK|SI GDV PLU MHPDOV EHJHJQHW ZDU XQG GLH XQDQJHQHKPH (ULQQHUXQJ DQ PHLQHQ .LQGKHLWVWUDXP GLH PLFK EHL GHU HUVWHQ :LHGHUEHJHJQXQJEHXQUXKLJWKDWWHTXlOWHPLFKQLFKWOlQJHU 6LH JHVWDQG PLU VLH KDEH EHL PHLQHP HUVWHQ (LQWUHWHQ HLQHQ lKQOLFKHQ 6FKUHFNHQYHUVSUWXQGGLHJOHLFKHOHLFKWH$EQHLJXQJHPSIXQGHQGLHVLFKDXFK LQ PHLQH %HZXQGHUXQJ IU VLH JHPLVFKW KDWWH -HW]W ODFKWHQ ZLU EHLGH EHU XQVHUHQDQIlQJOLFKHQ6FKDXGHU

,9,KUH*HZRKQKHLWHQ(LQNXU]HU6SD]LHUJDQJ ,FK KDEH EHUHLWV HUZlKQW GD LFK VLH LQ YLHOHUOHL +LQVLFKW UHL]HQG IDQG 0DQFKHVDQLKUJHILHOPLUDOOHUGLQJVQLFKWVRJXW ,FK ZLOO ]XHUVW LKU bXHUHV EHVFKUHLEHQ )U HLQH MXQJH 'DPH ZDU VLH XQJHZ|KQOLFK JUR 6LH ZDU VFKODQN XQG ZXQGHUEDU JUD]L|V $EJHVHKHQ GDYRQGDLKUH%HZHJXQJHQHWZDVDXIIDOOHQG7UlJHVKDWWHQYHUULHWQLFKWVDQ LKUGDVLHHLQH5HNRQYDOHV]HQWLQZDU6LHKDWWHHLQHQOHEKDIWHQVWUDKOHQGHQ 7HLQW XQG HLQ VFKPDOHV ZRKOJHIRUPWHV *HVLFKW PLW JURHQ GXQNOHQ JOlQ]HQGHQ $XJHQ ,KU +DDU ZDU KHUUOLFK 1LH KDEH LFK SSLJHUHV XQG OlQJHUHVJHVHKHQDOVGDVLKUHZHQQVLHHVIUHLEHUGLH6FKXOWHUQZDOOHQOLH ,FK KDEH RIW PHLQH +lQGH GDULQ YHUJUDEHQ XQG LPPHU ZLHGHU IUHXGLJ IHVWJHVWHOOWZLHVFKZHUHVZDU(VIKOWHVLFKIHLQXQGZHLFKDQXQGEHUGHP GXQNOHQ VDWWHQ %UDXQ ODJ HLQ *ROGVFKLPPHU ,FK OLHEWH HV ZlKUHQG VLH LP 6HVVHOOHKQWHLKU+DDU]XO|VHQXQG]XVHKHQZLHHVVFKZHUKHUDEIOR,FK WHLOWHXQGIORFKWHVLFKEUHLWHWHHVXPVLHXQGVSLHOWHGDPLW+LPPHO+lWWHLFK GRFKGDPDOVDOOHVJHZXW ,FKVDJWHYRUKLQGDPLU HLQLJHVDQ LKU QLFKWJHILHO:LH LFK ,KQHQ HU]lKOW KDEHQDKPPLFKLKUH=XWUDXOLFKNHLWJOHLFKDPHUVWHQ$EHQGIUVLHHLQ'DQQ DEHUEHPHUNWHLFKGDVLHLQDOOHPZDVVLHVHOEVWLKUH0XWWHUMDEHUKDXSW LKU JDQ]HV ELVKHULJHV /HEHQ XQG LKUH ZHLWHUHQ 3OlQH EHWUDI lXHUVWH =XUFNKDOWXQJ EWH 9LHOOHLFKW ZDU LFK XQYHUQQIWLJ YLHOOHLFKW WlXVFKWH LFK PLFK6LFKHUKlWWHLFKGLHIHLHUOLFKH9HUSIOLFKWXQJGLHGLHYRUQHKPH'DPHLQ 6FKZDU]PHLQHP9DWHUDXIHUOHJWKDWWHUHVSHNWLHUHQVROOHQ$EHUGLH1HXJLHU LVW HLQH QLPPHUPGH EHGHQNHQORVH /HLGHQVFKDIW XQG NHLQ 0lGFKHQ NDQQ HV JHGXOGLJ HUWUDJHQ YRQ HLQHU )UHXQGLQ LP 8QJHZLVVHQ JHODVVHQ ]X ZHUGHQ :HPZUGHHVVFKRQVFKDGHQZHQQ VLH PLU YHUULHWH ZDVPLFK VR EUHQQHQG LQWHUHVVLHUWH" 6HW]WH VLH NHLQ 9HUWUDXHQ LQ PHLQ 8UWHLOVYHUP|JHQ XQG PHLQH 'LVNUHWLRQ" :DUXP JODXEWH VLH PLU QLFKW ZHQQ LFK LKU IHLHUOLFK YHUVSUDFK NHLQHP0HQVFKHQHLQ:RUW]XYHUUDWHQ" :HQQVLHVLFKOlFKHOQGPHODQFKROLVFKXQGKDUWQlFNLJZHLJHUWHPLFKDXFKQXU HLQHQ6FKLPPHUGHU:DKUKHLWHUKDVFKHQ]XODVVHQJODXEWHLFKHLQH.lOWH]X

VSUHQGLHVLFKPLWLKUHU-XJHQGQLFKWYHUWUXJ ,FKNDQQQLFKWEHKDXSWHQGDZLUXQVGHVZHJHQ]DQNWHQ6LH]DQNWHVLFKQLH PLWPLU(VZDUJHZLVHKUXQIDLUXQGXQK|IOLFKYRQPLUVLHPLW)UDJHQ]X EHGUlQJHQ DEHU LFK NRQQWH HLQIDFK QLFKW DQGHUV ,FK KlWWH HV OLHEHU EOHLEHQ ODVVHQVROOHQ :DV VLH PLU WDWVlFKOLFK HU]lKOWH VFKlW]WH LFK XQYHUQQIWLJ ZLH LFK ZDU JHULQJ (V OLH VLFK LQ GUHL PDJHUHQ 6lW]HQ ]XVDPPHQIDVVHQ 6LH KLH &DUPLOOD ,KUH )DPLOLH ZDU VHKU DOW XQG YRQ $GHO ,KUH +HLPDW ODJ LUJHQGZR LP :HVWHQ 6LHZROOWHPLUZHGHULKUHQ)DPLOLHQQDPHQQRFKLKU:DSSHQYHUUDWHQZHGHU GHQ1DPHQLKUHV:RKQVLW]HVQRFKLKU+HLPDWODQG'HQNHQ6LHELWWH QLFKW GDLFKVLHXQDEOlVVLJPLWPHLQHU1HXJLHUTXlOWH,FKZDUWHWHVWHWVDXIHLQH JXWH *HOHJHQKHLW XQG DXFK GDQQ VWHOOWH LFK HKHU EHLOlXILJH DOV GUlQJHQGH )UDJHQ(LQLJH0DOHJLQJLFKDOOHUGLQJVJHUDGHZHJVDXIPHLQ=LHOORV$EHU ZHOFKH7DNWLNLFKDXFKDQZDQGWH(UIROJKDWWHLFKQLH:HGHUPLW9RUZUIHQ QRFK PLW =lUWOLFKNHLWHQ ZDU LKU EHL]XNRPPHQ 8QG GHQQRFK ZHQQ VLH PLU DXVZLFK WDW VLH HV PLW VRYLHO VDQIWHU 6FKZHUPXW XQG OHLVHP 7DGHO PLW VR YLHOHQIDVWOHLGHQVFKDIWOLFKHQ9HUWUDXHQVXQG6\PSDWKLHEHNXQGXQJHQXQGPLW VRYLHOHQ9HUVSUHFKXQJHQPLUHLQHV7DJHVDOOHV]XHU]lKOHQGDLFKHVQLFKW EHUV+HU]EUDFKWHLKUODQJH]XJUROOHQ 2IWVFKODQJVLHGDQQLKUHVFK|QHQ$UPHXPPHLQHQ+DOV]RJPLFKDQVLFK OHJWHLKUH:DQJHDQGLHPHLQHXQGIOVWHUWHGLHKHLHQ/LSSHQDQPHLQ2KU JHSUHW/LHEVWHLFKZHLGXIKOVWGLFKLP,QQHUVWHQYHUOHW]W+DOWHPLFK QLFKWIUJUDXVDPZHQQLFKVRKDQGOHZLHGLH6WlUNHQXQG6FKZlFKHQPHLQHU 1DWXU HV PLU YRUVFKUHLEHQ :HQQ GHLQ VDQIWHV +HU] YHUZXQGHW LVW EOXWHW PHLQ ZLOGHV +HU] PLW LKP 0HLQH WLHIH 'HPWLJXQJ JHQLHHQG OHEH LFK LQ GHLQHP ZDUPHQ /HEHQ XQG GX ZLUVW LQ PHLQ /HEHQ KLQHLQVWHUEHQ V VWHUEHQ,FKNDQQQLFKWDQGHUV6RZLHLFKGLUKHXWHQDKHELQZLUVWGXHLQHV 7DJHVDQGHUHQQDKHVHLQXQGGLH:RQQHGLHVHU*UDXVDPNHLWGLHGRFKQLFKWV DOV /LHEH LVW NHQQHQOHUQHQ 9HUVXFKH DOVR YRUOlXILJ QLFKW PHKU HWZDV EHU PLFKXQGGLH0HLQHQ]XHUIDKUHQVRQGHUQYHUWUDXHPLUPLWGHUJDQ]HQ.UDIW GHLQHU/LHEH 1DFK GHUDUW EHUVFKZHQJOLFKHQ :RUWHQ VFKORVVHQ VLFK LKUH EHEHQGHQ $UPH

VWHWVQRFKIHVWHUXPPLFKXQGLKUHZDUPHQ/LSSHQNWHQVDQIWGLHPHLQHQ ,KUH(PSILQGXQJHQZDUHQPLUHEHQVRXQYHUVWlQGOLFKZLHLKUH:RUWH ,FKJHEH]XGDLFKPLFKGLHVHQW|ULFKWHQ8PDUPXQJHQ]XGHQHQHVEULJHQV QLFKW VR RIW NDP JHUQ HQW]RJHQ KlWWH DEHU PLU IHKOWH GLH .UDIW GD]X ,KU )OVWHUQ NODQJ PLU ZLH HLQ :LHJHQOLHG OlKPWH PHLQHQ :LGHUVWDQGVZLOOHQ XQGYHUVHW]WHPLFKLQHLQHQWUDQFHlKQOLFKHQ=XVWDQGDXVGHPLFKHUVWHUZDFKWH ZHQQVLHLKUH$UPHVLQNHQOLH ,QGLHVHQXQKHLPOLFKHQ$XJHQEOLFNHQ PRFKWH LFK VLH QLFKW ,FK HPSIDQGGDQQ MHGHV0DOHLQHVHOWVDPHVWUPLVFKH(UUHJXQJGLH]ZDUZRKOWXHQGZDULQGLH VLFK DEHU VRJOHLFK HLQ YDJHV *HIKO GHU $QJVW XQG GHV (NHOV HLQVFKOLFK :lKUHQGVROFKHU6]HQHQNRQQWHLFKNHLQHQNODUHQ*HGDQNHQIDVVHQHPSIDQG DEHU HLQH DQ $QEHWXQJ JUHQ]HQGH =XQHLJXQJ XQG ]XJOHLFK HLQH $UW $EVFKHX ,FK ZHL GDV NOLQJW SDUDGR[ DEHU DQGHUV NDQQ LFK GLHVHQ =XVWDQG QLFKW EHVFKUHLEHQ 1RFK KHXWH QDFK VR YLHOHQ -DKUHQ ]LWWHUW PLU GLH +DQG EHLP 6FKUHLEHQOlKPWPLFKGLHIXUFKWEDUH(ULQQHUXQJDQEHVWLPPWH9RUIlOOHXQG 6LWXDWLRQHQ GLH LFK EHUVWHKHQ PXWH RKQH LKUH %HGHXWXQJ ]X DKQHQ 'LH ZLFKWLJVWHQ(UHLJQLVVHPHLQHU*HVFKLFKWHMHGRFKVLQGPLUNODUXQGGHXWOLFKLQV *HGlFKWQLV HLQJHJUDEHQ :DKUVFKHLQOLFK JLEW HV LP /HEHQ HLQHV MHGHQ 0HQVFKHQ$XJHQEOLFNHLQGHQHQZLOGHXQGVFKUHFNOLFKH/HLGHQVFKDIWHQLKQVR EHUZlOWLJWKDEHQGDHUVLFKVSlWHUMHQHU0RPHQWHQXUQRFKYDJHHULQQHUW 0DQFKPDO QDKP PHLQH VFK|QH VHOWVDPH *HIlKUWLQ ZLH DXV ODQJHU $SDWKLH HUZDFKHQGPHLQH+DQGKLHOWVLHIHVWXQG]lUWOLFKXPVFKORVVHQXQGGUFNWHVLH LPPHU ZLHGHU 'DQQ EOLFNWH VLH PLFK VDQIW HUU|WHQG PLW VFKPDFKWHQGHQ EUHQQHQGHQ$XJHQDQXQGDWPHWHVRKHIWLJGDLKUH%UXVWVLFKVWUPLVFKKRE XQG VHQNWH (V ZDU DOV VlH PLU HLQ YRQ *OXW YHU]HKUWHU /LHEKDEHU JHJHQEHU0LUZDUGDVSHLQOLFK,FKIKOWHPLFKJOHLFK]HLWLJDEJHVWRHQXQG EHUZlOWLJW'DQQ]RJVLHPLFKPLWWULXPSKLHUHQGHQ%OLFNDQVLFKOLHLKUH KHLHQ/LSSHQEHUPHLQHZDQGHUQXQGIOVWHUWHIDVWVFKOXFK]HQG'XJHK|UVW PLUGXZLUVWPLULPPHUJHK|UHQXQGGXXQGLFKVLQGHLQVIUHZLJ'DQQ OLH VLH VLFK LQ GHQ 6HVVHO ]XUFNIDOOHQ XQG YHUEDUJ LKUH $XJHQ KLQWHU GHQ ]DUWHQ+lQGHQZlKUHQGLFK]LWWHUQGXQGEHEHQGQHEHQLKUVD 6LQGZLUPLWHLQDQGHUYHUZDQGW"IUDJWHLFKVLHRIW:DVPHLQVWGXZHQQ GXVRPLWPLUVSULFKVW"9LHOOHLFKWHULQQHUHLFKGLFKDQMHPDQGHQGHQGXOLHEVW" $EHUOD HVELWWHLFKKDVVHVROFKH6]HQHQ,FKHUNHQQHGLFKGDQQQLFKWZLHGHU

LFKNHQQHPLFKVHOEVWQLFKWPHKUZHQQGXPLFKVRDQVLHKVWXQGPLUVROFKH 'LQJHVDJVW 0HLVWHQWORFNWHLKUPHLQH+HIWLJNHLWHLQHQ6HXI]HUGDQQOLHVLHPHLQH+DQG ORVXQGZDQGWHVLFKDE8PVRQVWYHUVXFKWHLFKHLQHHLQOHXFKWHQGH(UNOlUXQJ IU GLHVH XQJHZ|KQOLFKHQ *HIKOVDXVEUFKH ]X ILQGHQ GLH VLFK ZHGHU DOV $IIHNWLHUWKHLW QRFK DOV 6FKHU] DEWXQ OLHHQ =ZHLIHOORV EUDFKHQ LQ VROFKHQ $XJHQEOLFNHQ XQWHUGUFNWH ,QVWLQNWH XQG 6HKQVFKWH KHUYRU /LWW VLH HQWJHJHQ GHU 9HUVLFKHUXQJ GLH LKUH 0XWWHU XQDXIJHIRUGHUW JHJHEHQ KDWWH XQWHUYRUEHUJHKHQGHQ:DKQVLQQVDQIlOOHQ"2GHUKDQGHOWHHVVLFKJDUXPHLQH URPDQWLVFKH 9HUNOHLGXQJVDIIlUH" ,Q DOWHQ *HVFKLFKWHQ KDWWH LFK YRQ VROFKHQ 'LQJHQ JHOHVHQ +DWWH YLHOOHLFKW HLQ NLQGLVFKHU %HZXQGHUHU XQWHUVWW]W YRQ HLQHUDOWHQVFKODXHQ$EHQWHXUHULQGHQ:HJLQXQVHU+DXVJHIXQGHQXPPLU LQ )UDXHQNOHLGHUQ GHQ +RI ]X PDFKHQ" $EHU YLHOHV VSUDFK JHJHQ GLHVH 9HUPXWXQJVRVHKUVLHDXFKPHLQHU(LWHONHLWVFKPHLFKHOWH $XIPHUNVDPNHLWHQ ZLH PDQ VLH YRQ JDODQWHQ +HUUHQ HUZDUWHQ GDUI ZXUGHQ PLU YRQ VHLWHQ &DUPLOODV QLFKW VHOWHQ ]XWHLO 6ROFKHP *HIKOVEHUVFKZDQJ IROJWHQVWHWV7DJHDQGHQHQQLFKWV%HVRQGHUHVJHVFKDKXQGGLHVLHHQWZHGHU KHLWHURGHULQEUWHQGHU6FKZHUPXWYHUEUDFKWH:HQQLFKQLFKWEHPHUNWKlWWH ZLHLKUHGVWHUJOKHQGHQ$XJHQPLFKYHUIROJWHQKlWWHLFKPDQFKPDOJODXEHQ N|QQHQ LFK H[LVWLHUWH JDU QLFKW IU VLH $EJHVHKHQ YRQ GHQ 0RPHQWHQ JHKHLPQLVYROOHU (UUHJXQJ EHQDKP VLH VLFK JDQ] ZLH HLQ QRUPDOHV MXQJHV 0lGFKHQXQGDXFKLKUHVWlQGLJH0DWWLJNHLWHQWVSUDFKNHLQHVZHJVGHP%LOG GDVPDQVLFKYRQHLQHPJHVXQGHQ0DQQPDFKW 6LH KDWWH HLQLJH VHOWVDPH $QJHZRKQKHLWHQ -HPDQG GHU LQ GHU 6WDGW ZRKQW ZLH6LHPDJGDUEHUIUHLOLFKDQGHUVGHQNHQDOVZLUDXIGHP/DQG6LHNDP LPPHUHUVWVHKUVSlW]XXQVKHUXQWHUPHLVWQLFKWYRUHLQ8KUPLWWDJVWUDQN HLQH 7DVVH 6FKRNRODGH D DEHU QLFKWV GD]X 'DQQ PDFKWHQ ZLU JHZ|KQOLFK HLQHQ6SD]LHUJDQJHLQHQVHKUNXU]HQDOOHUGLQJVGDVLHVRIRUWPGHZXUGHXQG HQWZHGHU LQV 6FKOR ]XUFNNHKUWH RGHU VLFK DXI HLQHU %DQN LP 6FKDWWHQ QLHGHUOLH ,KUH N|USHUOLFKH (UPDWWXQJ ZLUNWH VLFK DEHU QLFKW LP JHULQJVWHQ DXI LKUHQ *HLVW DXV 6WHWV XQWHUKLHOW VLH VLFK DQJHUHJW VWHWV ]HLJWH VLH HLQH ZDFKH,QWHOOLJHQ] 0DQFKPDOVSLHOWHVLHNXU]DXILKUH+HLPDWDQRGHUHUZlKQWHHLQ(UOHEQLVHLQH (LQ]HOKHLW RGHU HLQH .LQGKHLWVHULQQHUXQJ GLH DXI HLQ 9RON PLW VHOWVDPHQ

*HSIORJHQKHLWHQ VFKOLHHQ OLHHQ PLW 6LWWHQ GLH XQV XQEHNDQQW ZDUHQ ,FK HQWQDKP GLHVHQ JHOHJHQWOLFKHQ %HPHUNXQJHQ GD LKU +HLPDWODQG YLHO IHUQHU VHLQPXWHDOVLFKDQIDQJVYHUPXWHWKDWWH $OV ZLU HLQHV 1DFKPLWWDJV XQWHU GHQ %lXPHQ VDHQ NDP HLQ /HLFKHQ]XJ YRUEHL 0DQ WUXJ HLQ MXQJHV KEVFKHV 0lGFKHQ ]X *UDEH GHP LFK RIW EHJHJQHW ZDU GLH 7RFKWHU HLQHV :DOGKWHUV 'HU $UPH JLQJ JUDPJHEHXJW KLQWHUGHP6DUJVHLQHVHLQ]LJHQ.LQGHV,KPIROJWHQHLQ.LUFKHQOLHGVLQJHQG GLH%DXHUQ (KUIXUFKWVYROOVWDQGLFKDXIXQGVWLPPWHLQGHQWUDXULJHQ*HVDQJHLQ 'DJDEPLUPHLQH%HJOHLWHULQHLQHQUHFKWXQVDQIWHQ6WRhEHUUDVFKWVDKLFK VLHDQ+|UVWGXQLFKWZLHHQWVHW]OLFKIDOVFKGDVNOLQJW"IUDJWHVLHVFKURII ,P*HJHQWHLOLFKILQGHHVVFK|QXQGUKUHQGDQWZRUWHWHLFKYHUlUJHUWEHU GLH6W|UXQJXQGSHLQOLFKEHUKUWYRQGHP*HGDQNHQGLH/HXWHLP/HLFKHQ]XJ N|QQWHQGLH6]HQHEHREDFKWHWXQGEHOJHQRPPHQKDEHQ ,FK VDQJ ZHLWHU ZXUGH DEHU VRIRUW ZLHGHU XQWHUEURFKHQ 'X UXLQLHUVW PHLQ 7URPPHOIHOO ULHI &DUPLOOD lUJHUOLFK XQG KLHOW VLFK PLW LKUHQ VFKODQNHQ )LQJHUQGLH2KUHQ]X8QGZHLWGXGHQQEHUKDXSWREGXXQGLFKGLHVHOEH 5HOLJLRQ KDEHQ" 'HLQ 5LWXDO YHUOHW]W PLFK XQG DXHUGHP KDVVH LFK %HHUGLJXQJHQ6RHLQ*HWXH6WHUEHQPXVFKOLHOLFKMHGHUXQGMHGHUZLUG GDGXUFKJOFNOLFKHU 9DWHULVWPLWGHP3IDUUHU]XP)ULHGKRIJHJDQJHQ,FKGDFKWHGXZHLWGD VLHKHXWHEHJUDEHQZLUG :HU LVW VLH" ,FK YHUVFKZHQGH PHLQH *HGDQNHQ QLFKW DQ %DXHUQ ,FK ZHL QLFKWZHUVLHLVWHUZLGHUWH&DUPLOODPLWEOLW]HQGHQ$XJHQ 'DV DUPH 0lGFKHQ GDV VLFK YRU ]ZHL :RFKHQ HLQJHELOGHW KDWWH HLQ *HVSHQVW]XVHKHQXQGGDVVHLWGHPLPPHUNUlQNHUZXUGHXQGJHVWHUQVWDUE 6SULFK EOR QLFKW YRQ *HVSHQVWHUQ VRQVW NDQQ LFK KHXWH QDFKW QLFKW VFKODIHQ +RIIHQWOLFKLVWNHLQH6HXFKHLP$Q]XJIXKULFKIRUW$OOHVVFKHLQWGDUDXI KLQ]XGHXWHQ'LHMXQJH)UDXGHV6FKZHLQHKLUWHQLVWYRULJH:RFKHJHVWRUEHQ 6LH EHKDXSWHWH MHPDQG KDEH VLH QDFKWV LP %HWW DP +DOV JHSDFNW XQG IDVW HUZUJW 3DSD VDJW GD VROFKH VFKUHFNOLFKHQ 7UlXPH EHL EHVWLPPWHQ ILHEULJHQ(UNUDQNXQJHQDXIWUHWHQ6LHZDUDP7DJ]XYRUY|OOLJJHVXQG 1XQ LKU %HJUlEQLV LVW KRIIHQWOLFK YRUEHL XQG LKU .LUFKHQOLHG JHVXQJHQ

-HGHQIDOOV ZLUG PDQ XQVHUH 2KUHQ QLFKW QRFK HLQPDO PLW GHUJOHLFKHQ 0LW|QHQ XQG .DXGHUZHOVFK PDUWHUQ 6HW] GLFK ]X PLU JDQ] QDK +DOWH PHLQH+DQGJDQ]IHVWIHVWHUIHVWHU :LUZDUHQHLQ6WFN]XUFNJHJDQJHQXQGQXQOLHVLHVLFKDXIHLQHUDQGHUHQ %DQNQLHGHU,KU*HVLFKWYHUZDQGHOWHVLFKLQHLQHU:HLVHGLHPLU6FKUHFNHQ HLQHQ$XJHQEOLFNODQJVRJDU(QWVHW]HQHLQMDJWH(VYHUGVWHUWHVLFKXQGZXUGH IXUFKWEDU IDKO 0LW ]XVDPPHQJHELVVHQHQ =lKQHQ JHEDOOWHQ +lQGHQ JHUXQ]HOWHQ%UDXHQXQGDXIHLQDQGHUJHSUHWHQ/LSSHQVWDUUWHVLH]X%RGHQXQG ]LWWHUWH GDEHL DP JDQ]HQ .|USHU DOV VHL VLH YRQ KHIWLJHP 6FKWWHOIURVW EHIDOOHQ6LHVFKLHQPLWlXHUVWHU$QVWUHQJXQJHLQHQ$QIDOO]XXQWHUGUFNHQ (QGOLFK QDFK DWHPORVHP .DPSI EUDFK HLQ GXPSIHU HUVFKWWHUQGHU 6FKPHU]HQVVFKUHL DXV LKU KHUYRU XQG GDQQ YHUHEEWH LKUH K\VWHULVFKH (UUHJXQJ6LHKVWGXGDVNRPPWGDYRQZHQQVLHHLQHPPLW.LUFKHQOLHGHUQ GHQ+DOV]XVFKQUHQVDJWHVLHVFKOLHOLFK+DOW PLFKIHVWOD PLFKQLFKW ORV(VJHKWVFKRQYRUEHU (V JLQJ YRUEHU 8QG GDQQ YLHOOHLFKW XP PLFK GLHVH GHSULPLHUHQGH 6]HQH YHUJHVVHQ ]X ODVVHQ ZXUGH VLH XQJHZ|KQOLFK OHEKDIW XQG JHVSUlFKLJ 6R PDFKWHQZLUXQVDXIGHQ+HLPZHJ (VZDUGDVHUVWH0DOGDLFK=HLFKHQMHQHU$QIlOOLJNHLWDQLKUHQWGHFNWHYRQ GHU LKUH 0XWWHU JHVSURFKHQ KDWWH 8QG HV ZDU GDV HUVWH 0DO GD LFK VLH JHUHL]WVDK %HLGHVYHUIOFKWLJWHVLFKZLHHLQH:RONHDP6RPPHUKLPPHO1XUQRFKHLQ HLQ]LJHV0DOHUOHEWHLFKGDGHU=RUQIUHLQHQ$XJHQEOLFNPLWLKUGXUFKJLQJ ,FKZLOO,KQHQGDYRQEHULFKWHQ $OVZLUHLQHV7DJHVLP6DORQDQHLQHPGHUKRKHQ)HQVWHUVWDQGHQNDPYRQ GHU =XJEUFNH KHU HLQ :DQGHUHU LQ GHQ 6FKORKRI ,FK NDQQWH LKQ JXW (U NDPPHLVW]ZHLPDOLP-DKU]XXQV (UZDUEXFNOLJXQGKDWWHHLQKDJHUHVVFKDUIJHVFKQLWWHQHV*HVLFKWZLHPDQHV RIW EHL PLJHVWDOWHWHQ 0HQVFKHQ ILQGHW (U WUXJ HLQHQ VFKZDU]HQ 6SLW]EDUW XQGODFKWHEHUVJDQ]H*HVLFKWZREHLHUHLQZDKUHV5DXEWLHUJHEL]XU6FKDX VWHOOWH6HLQ*HZDQGZDUDXVOHGHUIDUEHQHPVFKZDU]HPXQGVFKDUODFKURWHP 7XFK GDUEHU WUXJ HU XQ]lKOLJH 5LHPHQ XQG *XUWH DQ GHQHQ GLH YHUVFKLHGHQVWHQ *HJHQVWlQGH KLQJHQ $XI GHQ 5FNHQ KDWWH HU VLFK HLQH /DWHUQDPDJLFDXQG]ZHLPLUZRKOEHNDQQWH.lVWFKHQJHSDFNWGDVHLQHHQWKLHOW

HLQHQ6DODPDQGHUGDV DQGHUH HLQH $OUDXQH 'LH EHLGHQ 8QJHKHXHU EUDFKWHQ PHLQHQ 9DWHU MHGHVPDO ]XP /DFKHQ 6LH EHVWDQGHQ DXV JHWURFNQHWHQ 7HLOHQ YRQ $IIHQ 3DSDJHLHQ (LFKK|UQFKHQ )LVFKHQ XQG ,JHOQ GLH IHLQ VlXEHUOLFK ]XVDPPHQJHQlKW ZDUHQ 'LH :LUNXQJ ZDU HUVWDXQOLFK 'HU %XFNOLJH KDWWH HLQH )LHGHO HLQH 6FKDFKWHO PLW 7DVFKHQVSLHOHUXWHQVLOLHQ ]ZHL )ORUHWWH XQG )HFKWPDVNHQ DP *UWHO KlQJHQ XP LKQ KHUXP EDXPHOWHQ PHKUHUH JHKHLPQLVYROOH.lVWFKHQXQGLQGHU+DQGKLHOWHUHLQHQVFKZDU]HQ6WDEPLW .XSIHUEHVFKOlJHQ (LQ GUUHU VWUXSSLJHU +XQG IROJWH LKP DXI GHQ )HUVHQ EOLHE MHGRFK DQ GHU =XJEUFNH SO|W]OLFK VWHKHQ ZLWWHUWH PLWUDXLVFK XQG EHJDQQGDQQMlPPHUOLFK]XMDXOHQ 'HU *DXNOHU ZDU PLWWHQ LP 6FKORKRI VWHKHQJHEOLHEHQ KDWWH VHLQHQ NRPLVFKHQ +XW JH]RJHQ VLFK JUDYLWlWLVFK YRU XQV YHUQHLJW XQG XQV LQ DEVFKHXOLFKHP)UDQ]|VLVFKXQGQLFKWYLHOEHVVHUHP'HXWVFKVHLQHQZRUWUHLFKHQ *UX HQWERWHQ 'DQQ KRE HU GLH )LHGHO NUDW]WH HLQH IU|KOLFKH :HLVH VDQJ GD]XXQEHNPPHUWLQGHUIDOVFKHQ7RQDUWXQGIKUWHHLQHQVRGUROOLJHQ7DQ] DXIGDLFKWURW]GHVVFKUHFNOLFKHQ+XQGHJHKHXOVODFKHQPXWH 'HQ+XWLQGHU+DQGXQGGLH)LHGHOXQWHUP$UPNDPHUGDQQ]XXQVKHUEHU SULHVPLWHLQHPHLQ]LJHQ:RUWVFKZDOOGHQJDQ]HQ.DWDORJVHLQHU.QVWHDQ XQG HUERW VLFK XQV DOOH P|JOLFKHQ .XULRVLWlWHQ XQG %HOXVWLJXQJHQ YRU]XIKUHQ :ROOHQ GLH KRFKZRKOJHERUHQHQ 'DPHQ YLHOOHLFKW HLQ $PXOHWW ]XP 6FKXW] JHJHQ GHQ 9DPS\U NDXIHQ GHU ZLH HLQ :ROI GXUFK GLHVH :lOGHU VWUHLIHQ VROO"IUDJWHHUXQGOLHVHLQHQ+XWDXIV3IODVWHUIDOOHQ5LQJVXPVWHUEHQ VHLQH2SIHULFKDEHUKDEHHLQ0LWWHOGDVQLHYHUVDJW6WHFNHQ6LHVLFK HLQ $PXOHWWDQV.RSINLVVHQXQG6LHN|QQHQLKPLQV*HVLFKWODFKHQ 6HLQH $PXOHWWH EHVWDQGHQ DXV 3HUJDPHQWVWUHLIHQ GLH PLW NDEDOLVWLVFKHQ =HLFKHQEHGHFNWZDUHQ &DUPLOODNDXIWHLKPVRIRUWHLQHVDEXQGLFKIROJWHLKUHP%HLVSLHO (U VDK ]X XQV KHUDXI ZLU EOLFNWHQ DPVLHUW ]X LKP KLQXQWHU ,FK MHGHQIDOOV KDWWHPHLQHQ6SDDQLKP:lKUHQGHUXQVPLWVHLQHQVWHFKHQGHQVFKZDU]HQ $XJHQDQVDKVFKLHQLUJHQGHWZDVVHLQH1HXJLHU]XHUUHJHQ ,P 1X KDWWH HU HLQH /HGHUUROOH JH|IIQHW GLH PLW VHOWVDPHQ NOHLQHQ 6WDKOLQVWUXPHQWHQYHUVFKLHGHQVWHU$UWJHIOOWZDU 6HKHQ 6LH VLFK GDV DQ PHLQ )UlXOHLQ VDJWH HU ]X PLU ,FK GDUI VDJHQ

GDLFKPLFKQHEHQDQGHUHQZHQLJHUQW]OLFKHQ'LQJHQDXFKDXIGLH.XQVWGHV 'HQWLVWHQ YHUVWHKH =XP 7HXIHO PLW GLHVHP +XQG XQWHUEUDFK HU VLFK SO|W]OLFK :LOOVW GX ZRKO UXKLJ VHLQ GX .DQDLOOH (U KHXOW VR GD (XHU +RFKZRKOJHERUHQNHLQ:RUWYHUVWHKHQN|QQHQ,KUHHUODXFKWH)UHXQGLQGLH MXQJH 'DPH GRUW KDW lXHUVW VFKDUIH =lKQH ODQJ GQQ XQG VSLW] ZLH 3IULHPHQRGHU1DGHOQ (U ODFKWH ,FK KDE VFKDUIH $XJHQ XQG NDQQ V YRQ KLHU DXV GHXWOLFK HUNHQQHQ 6LFKHU WXW VLH VLFK RIW ZHK GDPLW ,FK NDQQ LKU KHOIHQ +LHU KDEH LFK )HLOH 0HLHO XQG =DQJH :HQQ GLH 'DPH JHVWDWWHW ZHUGHLFKLKUH=lKQHKEVFK]XUHFKWIHLOHQ(LQHMXQJHVFK|QH'DPHGDUIGRFK NHLQH)LVFK]lKQHKDEHQQLFKWZDKU"2MH,VWPLUGLH'DPHE|VH":DULFK]X DXIGULQJOLFK"+DEHLFKVLHJHNUlQNW" 'LH MXQJH 'DPH PDFKWH WDWVlFKOLFK HLQ E|VHV *HVLFKW DOV VLH UDVFK ]XUFNWUDW :LH NDQQ GLHVHU 6FKDUODWDQ HV ZDJHQ XQV VR ]X EHOHLGLJHQ" :R LVW GHLQ 9DWHU",FKZHUGHLKQELWWHQGHQ.HUO]XU5HGH]XVWHOOHQ0HLQ9DWHUKlWWH GLHVHQHUElUPOLFKHQ6FKXIWDQGHQ3XPSHQVFKZHQJHOELQGHQDXVSHLWVFKHQXQG LKPXQVHU:DSSHQELVDXIGLH.QRFKHQHLQEUHQQHQODVVHQ 6LHHQWIHUQWHVLFKYRP)HQVWHUXQGVHW]WHVLFK$OVLKUGHU0LVVHWlWHUDXVGHQ $XJHQ ZDU OHJWH VLFK LKU =RUQ HEHQVR UDVFK ZLH HU DXIJHIODPPW ZDU $OOPlKOLFKIDQGVLHLKUH+DOWXQJZLHGHUXQGVFKLHQGHQNOHLQHQ%XFNOLJHQXQG VHLQH1DUUHWHLYHUJHVVHQ]XKDEHQ $Q GLHVHP $EHQG ZDU PHLQ 9DWHU LQ JHGUFNWHU 6WLPPXQJ 6FKRQ EHLP (LQWUHWHQHU]lKOWHHUXQVHVKDEHVLFKZLHGHUHLQlKQOLFKHU)DOOHUHLJQHWZLH GLHEHLGHQGLHYRUNXU]HPW|GOLFKDXVJHJDQJHQZDUHQ'LH6FKZHVWHUHLQHVLQ VHLQHQ'LHQVWHQVWHKHQGHQMXQJHQ%DXHUQGLHQXUHLQH0HLOHYRQXQVHQWIHUQW ZRKQWHZDUVHKUNUDQN,KUHU6FKLOGHUXQJQDFKZDUVLHDXIIDVWGLHJOHLFKH :HLVH ZLH GLH DQGHUHQ DQJHIDOOHQ ZRUGHQ XQG QXQ VLHFKWH VLH XQDXIKDOWVDP GDKLQ$OOHGLHVH)lOOHHUNOlUWHPHLQ9DWHUVLQG]ZHLIHOORVDXIQDWUOLFKH 8UVDFKHQ]XUFN]XIKUHQ'LHVHEHGDXHUQVZHUWHQ0HQVFKHQVWHFNHQHLQDQGHU PLW LKUHP $EHUJODXEHQ DQ XQG ELOGHQ VLFK GDQQ HLQ YRQ GHQ JOHLFKHQ VFKUHFNOLFKHQ(UVFKHLQXQJHQKHLPJHVXFKW]XZHUGHQZLHLKUH1DFKEDUQ $EHU GDV LVW HV MD JHUDGH ZDV HLQHP VR HQWVHW]OLFKH $QJVW HLQMDJW VDJWH &DUPLOOD :LHVR"IUDJWHPHLQ9DWHU

,FKIUFKWHPLFKGDYRUPLUHLQHV7DJHVDXFKVROFKH'LQJHHLQ]XELOGHQ,FK JODXEHGDVZlUHHEHQVRIXUFKWEDUZLHZHQQVLHWDWVlFKOLFKJHVFKlKHQ :LU VLQG DOOH LQ *RWWHV +DQG QLFKWV JHVFKLHKW JHJHQ VHLQHQ :LOOHQ XQG IUGLHGLH,KQOLHEHQZLUGDOOHV]XHLQHPJXWHQ(QGHNRPPHQ(ULVWXQVHU JHWUHXHU6FK|SIHU(UKDWXQVDOOHJHPDFKWXQGZLUGXQVEHKWHQ 6FK|SIHU" 1DWXU KLHOW GLH MXQJH 'DPH PHLQHP IURPPHQ 9DWHU HQWJHJHQ 8QGDXFKGLH.UDQNKHLWGLHKLHUDXIWULWWLVW HLQH QDWUOLFKH $QJHOHJHQKHLW 1DWXU$OOHVZDVLVWNRPPWDXVLKURGHUHWZDQLFKW"*HKRUFKHQQLFKWDOOH 'LQJH LP +LPPHO DXI (UGHQ XQG XQWHU GHU (UGH LKUHQ *HVHW]HQ" ,FK ELQ EHU]HXJWGDYRQ 1DFK OlQJHUHP 6FKZHLJHQ VDJWH PHLQ 9DWHU 'HU $U]W KDW VLFK IU KHXWH DQJHPHOGHW,FKZLOOZLVVHQZDVHUYRQGHU6DFKHKlOWXQGZDVHUXQV]XWXQ UlW bU]WHKDEHQPLUQLHKHOIHQN|QQHQEHPHUNWH&DUPLOOD 'DQQELVWGXDOVRNUDQNJHZHVHQ"IUDJWHLFK .UlQNHUDOVGXMHPDOVZDUVWDQWZRUWHWHVLH ,VWGDVVFKRQODQJHKHU" -DVHKUODQJH,FKOLWWDQJHQDXGHUJOHLFKHQ.UDQNKHLWDEHULFKNDQQPLFK QXU QRFK DQ PHLQH 6FKPHU]HQ XQG 6FKZlFKHDQIlOOH HULQQHUQ XQG GLH ZDUHQ QLFKWVRVFKOLPPZLHEHLDQGHUHQ(UNUDQNXQJHQ 'XPXWGDPDOVVHKUMXQJJHZHVHQVHLQ 'DVNDQQPDQZRKOVDJHQ$EHUVSUHFKHQZLUQLFKWPHKUGDYRQ'XZLUVW GRFK HLQHU )UHXQGLQ QLFKW ZHKWXQ ZROOHQ" 6LH VDK PLU VFKPDFKWHQG LQ GLH $XJHQ OHJWH PLU ]lUWOLFK GHQ $UP XP GLH 7DLOOH XQG IKUWH PLFK DXV GHP =LPPHU 0HLQ 9DWHU GHU VLFK DQV )HQVWHU JHVHW]W KDWWH XQG PLW HLQLJHQ 6FKULIWVWFNHQEHVFKlIWLJWZDUEOLHE]XUFN :DUXPPDFKWGHLQ3DSDXQVVRJHUQ$QJVW"IUDJWH&DUPLOODVHXI]HQGXQG OHLFKWHUVFKDXGHUQG $EHU&DUPLOODGDVWXWHUGRFKJDUQLFKW1LFKWVOlJHLKPIHUQHU )UFKWHVWGXGLFK/LHEVWH" ,FKZUGHPLFKVHKUIUFKWHQZHQQLFKPLFKLQGHUJOHLFKHQ*HIDKUZWHZLH GLHVHDUPHQ0HQVFKHQ )UFKWHVWGXGLFKYRUGHP6WHUEHQ" -D'DYRUIUFKWHWVLFKGRFKMHGHU

$EHU ]X VWHUEHQ ZLH ]ZHL /LHEHQGH PLWHLQDQGHU VWHUEHQ XP GDQDFK PLWHLQDQGHU OHEHQ ]X GUIHQ 'LH 0lGFKHQ YHUEULQJHQ LKU /HEHQ LQ GLHVHU :HOW ZLH 5DXSHQ XQG HUVW ZHQQ GHU 6RPPHU NRPPW ZHUGHQ VLH 6FKPHWWHUOLQJH9RUKHUDEHUVLQGVLHZLH0DGHQXQG/DUYHQQLFKWZDKUPLW GHQ JOHLFKHQ *HZRKQKHLWHQ XQG %HGUIQLVVHQ XQG YRQ GHU JOHLFKHQ %HVFKDIIHQKHLW ZLH GLHVH 'DV VFKUHLEW 0RQVLHXU %XIIRQ LQ VHLQHP JURHQ %XFKHVVWHKWGUEHQLP=LPPHU 6SlWHUNDPGHU$U]WXQGKDWWHHLQHYHUWUDXOLFKH8QWHUUHGXQJPLW3DSD(U ZDU HLQ VDFKNXQGLJHU 0DQQ LQ GHQ 6HFK]LJHUQ (U SXGHUWH VLFK XQG VHLQ EDUWORVHV*HVLFKWZDUJODWWZLHHLQ.UELV$OVHU]XVDPPHQPLW3DSDDXV GHP=LPPHUWUDWK|UWHLFKGLHVHQODFKHQGVDJHQ $OVRZLUNOLFKYRQHLQHPVRNOXJHQ0DQQZLH6LHHVVLQGKlWWHLFKGDVQLFKW HUZDUWHW:DVKDOWHQVLHGHQQYRQJHIOJHOWHQ3IHUGHQXQG'UDFKHQ" 'HU$U]WZLHJWHOlFKHOQGGHQ.RSI 7URW] DOOHPVDJWH HU /HEHQ XQG 7RGVLQG JHKHLPQLVYROOH %HUHLFKH XQG ZLUZLVVHQZHQLJEHUGLHGDULQZLUNVDPHQ.UlIWH 'DQQ JLQJHQ GLH EHLGHQ ZHLWHU XQG LFK NRQQWH QLFKWV PHKU YRQ LKUHU 8QWHUKDOWXQJ K|UHQ ,FK ZXWH GDPDOV QLFKW ZRYRQ GHU $U]W JHVSURFKHQ KDWWHKHXWHMHGRFKJODXEHLFKHVHUUDWHQ]XN|QQHQ

9(LQHZXQGHUEDUHbKQOLFKNHLW $P VHOEHQ $EHQG IXKU GHU 6RKQ GHV *HPl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

6FKUDXEHQ]LHKHULQGHU+DOOHZRDXFKZLUXQVHLQJHIXQGHQKDWWHQXPEHLP $XVSDFNHQ]X]XVHKHQ &DUPLOOD VD JHODQJZHLOW GD ZlKUHQG GLH UHVWDXULHUWHQ %LOGHU PHLVW 3RUWUlWV HLQV QDFK GHP DQGHUHQ KHUDXVJHKREHQ ZXUGHQ 0HLQH 0XWWHU HQWVWDPPWHHLQHUDOWHQXQJDULVFKHQ)DPLOLHXQGGHUJU|WH7HLOGHU%LOGHU GLHMHW]WZLHGHUDXIJHKlQJWZHUGHQVROOWHQKDWWHHLQVWLKUJHK|UW0HLQ9DWHU KLHOWHLQH/LVWHLQGHU+DQGXQGYHUODVZlKUHQGGHV$XVSDFNHQVGLH1XPPHUQ GHU%LOGHU2EGLH*HPlOGHEHVRQGHUVJXWZDUHQZHLLFK QLFKW MHGHQIDOOV ZDUHQVLHVHKUDOWXQGHLQLJHGDYRQZDUHQUHFKWPHUNZUGLJ'LHPHLVWHQVDK LFK DQ MHQHP $EHQG JHZLVVHUPDHQ ]XP HUVWHQ 0DO GHQQ GXUFK GHQ 5DXFK XQG6WDXEYLHOHU-DKUHZDUHQVLHYRUKHUIDVWXQNHQQWOLFKJHZHVHQ +LHULVWHLQ%LOGGDVLFKQRFKQLHULFKWLJJHVHKHQKDEHVDJWHPHLQ9DWHU 6RYLHO LFK ELVKHU HQW]LIIHUQ NRQQWH VWHKHQ LQ GHU REHUHQ (FNH GHU 1DPH

0DUFLD.DUQVWHLQ XQGGLH-DKUHV]DKO ,FKELQJHVSDQQWZLHHVMHW]W DXVVLHKW ,FKNRQQWHPLFKDQGDV%LOGHULQQHUQ(VZDUNOHLQXQJHIlKUHLQHLQKDOE)X KRFKIDVWTXDGUDWLVFK XQJHUDKPWXQG VR QDFKJHGXQNHOW GD LFK QLH JHZXW KDWWHZDVHVHLJHQWOLFKGDUVWHOOHQVROOWH 'HU5HVWDXUDWRU]HLJWHHVXQVPLWXQYHUKRKOHQHP6WRO](VZDUVHKUVFK|Q HVZDUYHUEOIIHQGXQGHVVFKLHQ]XOHEHQ(VZDUGDV(EHQELOG&DUPLOODV &DUPLOOD/LHEVWHGDVLVWZLUNOLFKHLQ:XQGHU'DVELVWGXZLHGXOHLEVW XQG OHEVW GDV LVW JHQDX GHLQ /lFKHOQ 0DQ PHLQW GLFK LP QlFKVWHQ $XJHQEOLFN VSUHFKHQ ]X K|UHQ 3DSD LVW HV QLFKW ZXQGHUVFK|Q" 6LHK QXU VRJDUGHUNOHLQH/HEHUIOHFNDQLKUHP+DOVLVWGD /DFKHQG DQWZRUWHWH PHLQ 9DWHU :LUNOLFK HLQH ZXQGHUEDUH bKQOLFKNHLW $EHU]XPHLQHUhEHUUDVFKXQJVFKLHQHUZHQLJEHHLQGUXFNWZDQGWHVLFKDEXQG XQWHUKLHOW VLFK ZHLWHU PLW GHP 5HVWDXUDWRU GHU VHOEVW VR HWZDV ZLH HLQ .QVWOHU ZDU XQG VLFK IDFKPlQQLVFK EHU GLH 3RUWUlWV XQG GLH DQGHUHQ *HPlOGHlXHUWHGLHHUJHUDGHDXIJHIULVFKWKDWWH,FKGDJHJHQVWDXQWHXPVR PHKUMHOlQJHULFKGDV%LOGEHWUDFKWHWH 3DSDGDUILFKHVLQPHLQHP=LPPHUDXIKlQJHQ"IUDJWHLFK *HZLPHLQ.LQGHUZLGHUWHHUOlFKHOQG(VIUHXWPLFKGDGXHVLKUVR lKQOLFKILQGHVW:HQQGDVZLUNOLFKGHU)DOOLVWPXHVQRFKKEVFKHUVHLQ DOVLFKGDFKWH

'LH MXQJH 'DPH UHDJLHUWH QLFKW DXI VHLQ .RPSOLPHQW VLH VFKLHQ HV QLFKW HLQPDOJHK|UW]XKDEHQ6LHVD]XUFNJHOHKQWLP6HVVHOKDWWHGLHVFK|QHQ $XJHQXQWHUGHQODQJHQ:LPSHUQQDFKGHQNOLFKDXIPLFKJHULFKWHWXQGOl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lJH 6LHK GRFK ZHOFK KHUUOLFKHU 0RQGVFKHLQ6LHEOLFNWH]XU+DOOHQWUGLHHLQZHQLJRIIHQVWDQG+lWWHVWGX /XVW HLQHQ NOHLQHQ 5XQGJDQJ LP 6FKORKRI ]X PDFKHQ XQG ]XP )OX KLQXQWHU]XVFKDXHQ" (VLVWHLQH1DFKWZLHGDPDOVDOVGX]XXQVNDPVWVDJWHLFK 6LHVHXI]WHXQGOlFKHOWH 'DQQHUKREVLHVLFKOHJWHGHQ$UPXPPLFKXQGVRWUDWHQZLULQV)UHLH /DQJVDPXQGVFKZHLJHQGJLQJHQZLUKLQXQWHU]XU=XJEUFNHXQGEHWUDFKWHWHQ GLHVFK|QH/DQGVFKDIW 'XKDVWDOVRDQGLH1DFKWJHGDFKWLQGHULFK]XHXFKNDP"IUDJWHVLHOHLVH %LVWGXIURKGDLFKKLHUELQ" 6HKUIURK&DUPLOOD 8QG GX ZLOOVW GDV %LOG GDV PLU GHLQHU 0HLQXQJ QDFK VR lKQOLFK LVW LQ GHLQHP =LPPHU DXIKlQJHQ" IOVWHUWH VLH PLW HLQHP 6HXI]HU OHJWH GHQ $UP IHVWHUXPPLFKXQGOLHGHQVFK|QHQ.RSIDQPHLQH6FKXOWHUVLQNHQ :LH URPDQWLVFK GX ELVW &DUPLOOD 6ROOWHVW GX PLU HLQHV 7DJHV GHLQH *HVFKLFKWH HU]lKOHQ GDQQ ZHUGH LFK VLFKHU YRQ HLQHU JURHQ /LHEH ]X K|UHQ EHNRPPHQ 6LHNWHPLFKVFKZHLJHQG

&DUPLOODLFKJODXEHEHVWLPPWGDGXYHUOLHEWZDUVWXQGGDDXFKMHW]WLQ GLHVHP0RPHQWHLQHV/LHEHVJHVFKLFKWHLP6SLHOLVW ,FKZDUQRFKQLHPDOVYHUOLHEWXQGZHUGHPLFKDXFKQLFKWYHUOLHEHQIOVWHUWH VLHHVVHLGHQQLQGLFK :LHVFK|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|VWOH IDVW +DEHLFKJHWUlXPW"/DXQVKLQHLQJHKHQ.RPP UDVFKLQV+DXV 'XVLHKVWNUDQNDXV&DUPLOOD(LQHOHLFKWH6FKZlFKH'XPXWXQEHGLQJW HLQHQ6FKOXFN:HLQWULQNHQ -DGDVZLOOLFKWXQ(VJHKWPLUVFKRQHWZDVEHVVHU,QHLQSDDU0LQXWHQ ZHUGH LFK ZLHGHU JDQ] ZRKO VHLQ -D JLE PLU HLQ ZHQLJ :HLQ VDJWH VLH ZlKUHQG ZLU DXIV +DXV ]XJLQJHQ /D XQV QRFK HLQHQ $XJHQEOLFN GLH /DQGVFKDIWEHWUDFKWHQHVLVWYLHOOHLFKWGDVOHW]WHPDOGDLFKJHPHLQVDPPLW GLUGHQ0RQGVFKHLQJHQLHH :LHIKOVWGXGLFKMHW]W&DUPLOOD"*HKWHVGLUZLUNOLFKEHVVHU"IUDJWHLFK ,FK EHJDQQ PLU 6RUJHQ ]X PDFKHQ RE VLH YLHOOHLFKW YRQ GHU VHOWVDPHQ (SLGHPLH EHIDOOHQ ZDU GLH GHP 9HUQHKPHQ QDFK LQ XQVHUHU *HJHQG XP VLFK JULII 3DSDZlUH]XWLHIVWEHNPPHUWZHQQHUJODXEHQPWHGDGXXQVEHUGDV JHULQJVWH 8QZRKOVHLQ QLFKW VRIRUW %HVFKHLG VDJVW :LU KDEHQ HLQHQ YRUWUHIIOLFKHQ$U]WLQGHU1DFKEDUVFKDIW*HUDGHKHXWHZDUHUEHL3DSD ,FK ]ZHLIOH QLFKW DQ VHLQHP .|QQHQ ,FK ZHL ZLH JXW LKU DOOH HV PLW PLU PHLQW DEHU JODXE PLU PHLQH /LHEH LFK IKOH PLFK ZLHGHU JDQ] ZRKO (LJHQWOLFK IHKOW PLU QLH HWZDV QXU PDQFKPDO EHUNRPPW PLFK HLQH OHLFKWH 6FKZlFKH 0DQ VDJW LFK HUPDWWH UDVFK ,FK ELQ $QVWUHQJXQJHQ QLFKW

JHZDFKVHQ,FKNDQQNDXPVRZHLWODXIHQZLHHLQGUHLMlKULJHV.LQGXQGKLHU XQGGDYHUOlWPLFKGDVELFKHQ.UDIWGDVLFKKDEHXQGGDQQHUJHKWHVPLU VRZLHGXHVHEHQHUOHEWKDVW$EHU]XP*OFNGDXHUWGDVQLHODQJHXQGLFK ELQ VHKU VFKQHOO ZLHGHU JDQ] LFK VHOEVW 0HUNVW GX QLFKW ZLH JXW LFK PLFK EHUHLWVHUKROWKDEH" (V JLQJ LKU WDWVlFKOLFK ZLHGHU JXW :LU XQWHUKLHOWHQ XQV DQJHUHJW VLH ZDU VHKU OHEKDIW XQG GHU $EHQG JLQJ YRUEHU RKQH GD VLH QRFK HLQPDO LQ LKUH 9HUQDUUWKHLW ZLH LFK HV QDQQWH YHUIDOOHQ ZlUH ,FK PHLQH GDPLW LKUH ZLUUHQ :RUWHXQG%OLFNHGLHPLUSHLQOLFKZDUHQXQGPLUVRJDU$QJVWPDFKWHQ ,QGLHVHU 1DFKW HUHLJQHWH VLFK HLQ 9RUIDOO GHUPHLQH *HGDQNHQ LQ HLQH JDQ] DQGHUH5LFKWXQJOHQNWHXQGVHOEVWGLHVRQVWVRWUlJH&DUPLOODIUNXU]H=HLW DXIUWWHOWH

9,(LQK|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|QQWH 'DV NDQQ LFK ,KQHQ QLFKW VDJHQ HUZLGHUWH VLH ]ZHLGHXWLJ DEHU LFK KDEH RKQHKLQGDUDQJHGDFKW,KU+DXV]XYHUODVVHQ6LHKDEHQPLUVFKRQDOO]XYLHO *DVWIUHXQGVFKDIW XQG *WH HUZLHVHQ ,FK KDEH ,KQHQ XQHQGOLFK YLHO 0KH EHUHLWHW XQG LFK P|FKWH HLQH .XWVFKH EHVWHOOHQ XQG PRUJHQ PHLQHU 0XWWHU QDFKIDKUHQ,FKZHLZRLFKVLHVFKOLHOLFKILQGHQZHUGHREZRKOLFKHV,KQHQ QLFKW]XVDJHQZDJH $EHUGDUDQGUIHQ6LHQLFKWHLQPDOLP7UDXPHGHQNHQULHIPHLQ9DWHU]X

PHLQHUJURHQ%HUXKLJXQJ:LUN|QQHQ6LHQLFKWHLQIDFK]LHKHQODVVHQ,FK ZHUGH ,KUHU $EUHLVH QLFKW ]XVWLPPHQ HV VHL GHQQ 6LH UHLVWHQ LQ GHU 2EKXW ,KUHU0XWWHUGLHXQVGHQ*HIDOOHQHUZLHV6LHELV]XLKUHU5FNNHKUEHLXQV ]XODVVHQ,FKKlWWHHVDOOHUGLQJVEHJUWZHQQ6LHLQ]ZLVFKHQYRQLKUJHK|UW KlWWHQGHQQGLH1DFKULFKWHQEHUGLHP\VWHUL|VH.UDQNKHLWLQXQVHUHU*HJHQG VLQGKHXWHDEHQGQRFKDODUPLHUHQGHUDOV]XYRUXQGGDLFKPLFKQLFKWPLW,KUHU 0XWWHUEHUDWHQNDQQODVWHWGLH9HUDQWZRUWXQJGLHLFKIU6LHWUDJHXPVR VFKZHUHU DXI PLU $EHU LFK ZHUGH WXQ ZDV LFK NDQQ (LQHV DOOHUGLQJV VWHKW IHVW 6LH GUIHQ XQV RKQH GLH DXVGUFNOLFKH $QZHLVXQJ ,KUHU 0XWWHU QLFKW YHUODVVHQ'LH7UHQQXQJYRQ,KQHQZUGHXQV]XVHKUVFKPHU]HQDOVGDZLU VLHVROHLFKWDXIXQVQlKPHQ +DEHQ6LHWDXVHQG'DQNIU,KUH*DVWIUHXQGVFKDIWDQWZRUWHWH&DUPLOOD PLWVFKHXHP/lFKHOQ6LHVLQGDOOHVRJXW]XPLU6HOWHQLP/HEHQKDEHLFK PLFK VR JOFNOLFK JHIKOW ZLH KLHU LQ ,KUHP VFK|QHQ 6FKORH XQWHU ,KUHU 2EKXWXQGLQGHU*HVHOOVFKDIW,KUHUOLHEHQ7RFKWHU /lFKHOQGXQGVLFKWOLFKHUIUHXWEHULKUHDUWLJHQ:RUWHNWHHULKUGDUDXIKLQ DOWPRGLVFKJDODQWGLH+DQG :LHVWHWVEHJOHLWHWHLFK&DUPLOODDXILKU=LPPHUXQGXQWHUKLHOWPLFKPLWLKU ZlKUHQGVLHVLFK]XP6FKODIHQJHKHQIHUWLJPDFKWH *ODXEVW 'X HLJHQWOLFK IUDJWH LFK HQGOLFK GD GX PLU MHPDOV DOOHV DQYHUWUDXHQZLUVW" 6LH VDK PLFK DQ JDE PLU DEHU NHLQH $QWZRUW VRQGHUQ OlFKHOWH PLU QXU XQEHZHJW]X 'X ZLOOVW PLU QLFKW DQWZRUWHQ VDJWH LFK 'X IKOVW GLFK DXHUVWDQGH PHLQH)UDJHIUHXQGOLFK]XEHDQWZRUWHQ,FKKlWWHVLHJDUQLFKWVWHOOHQVROOHQ 'RFKGXKDVWHLQ5HFKWGDUDXIXQGDXIMHGHDQGHUH)UDJHDXFK'XDKQVW QLFKWZLHOLHELFKGLFKKDEHVRQVWZWHVWGXQlPOLFKGDGXXQEHJUHQ]WHV 9HUWUDXHQ YRQ PLU HUZDUWHQ GDUIVW $EHU PLFK ELQGHW HLQ *HOEGH NHLQH 1RQQHKDWMHPDOVHLQDQQlKHUQGVWUHQJHVDEOHJHQPVVHQXQGLFKZDJHQRFK QLFKW MHPDQGHP PHLQH *HVFKLFKWH ]X HU]lKOHQ QLFKW HLQPDO GLU 'RFK GHU =HLWSXQNWDQGHPGXDOOHVHUIDKUHQZLUVWLVWQDKH6LFKHUKlOWVWGXPLFKIU JUDXVDP XQG VHKU VHOEVWVFKWLJ DEHU /LHEH LVW LPPHU VHOEVWVFKWLJ MH JOKHQGHUGHVWRVHOEVWVFKWLJHU'XDKQVWQLFKWZLHHLIHUVFKWLJLFKELQ'X PXWPLWPLUNRPPHQXQGPLFKOLHEHQELV]XP7RGRGHUDEHUPLFKKDVVHQELV

]XP7RGXQGGDUEHUKLQDXV'DV:RUW *OHLFKJOWLJNHLW H[LVWLHUWIUPLFK QLFKWZHQQLFKDXFKYRQ1DWXUDSDWKLVFKELQ &DUPLOOD MHW]W IlQJVW GX ZLHGHU PLW GLHVHP VFKUHFNOLFKHQ 8QVLQQ DQ XQWHUEUDFKLFKVLHKDVWLJ 'DV WXH LFK QLFKW REZRKO LFK HLQH DOEHUQH NOHLQH 1lUULQ XQG YROOHU ZXQGHUOLFKHU (LQIlOOH ELQ $EHU XP GHLQHWZLOOHQ ZLOO LFK ZLH HLQH DOWH HUIDKUHQH)UDXUHGHQ%LVWGXMHPDOVDXIHLQHP%DOOJHZHVHQ" 1HLQ $EHU ZLH NRPPVW GX GHQQ SO|W]OLFK GDUDXI" :LH JHKW HV GHQQ DXI HLQHP%DOO]X"(VPXZXQGHUVFK|QVHLQ ,FKKDEHHVIDVWYHUJHVVHQ(VLVWVFKRQ-DKUHKHU ,FKODFKWH 6R DOW ELVW GX MD QRFK JDU QLFKW 'X NDQQVW GRFK GHLQHQ HUVWHQ %DOO QRFK QLFKWYHUJHVVHQKDEHQ ,FKHULQQHUHPLFKMHGHU(LQ]HOKHLWDEHUQXUZHQQLFKPLFKVHKUDQVWUHQJH ,FKVHKHDOOHVYRUPLUVRZLHHLQ7DXFKHUGDVZDVEHULKPYRUVLFKJHKW VLHKWGXUFKHLQH=ZLVFKHQVFKLFKWGLHLQVWlQGLJHU%HZHJXQJXQGJOHLFK]HLWLJ GLFKWXQGGXUFKVLFKWLJLVW,QMHQHU1DFKWJHVFKDKHWZDVGDVGLH.RQWXUHQGHV %LOGHVXQGHXWOLFKZHUGHQXQGVHLQH)DUEHQYHUEODVVHQOLH,FKZXUGHEHLQDKH LP%HWWHUPRUGHWZXUGHKLHUYHUZXQGHWVLHEHUKUWHLKUH%UXVWXQGZDU VHLWGHPQLHPHKUVRZLHIUKHU :DUVWGXGHP7RGVHKUQDKH" -DVHKUQDKHHLQHJUDXVDPH/LHEHHLQHVHOWVDPH/LHEHGLHPLUGDV/HEHQ QHKPHQZROOWH'LH/LHEHZLOOLKUH2SIHUKDEHQ.HLQ2SIHURKQH%OXW/D XQVVFKODIHQJHKHQLFKIKOHPLFKVRWUlJH,FKZHLQLFKWZLHLFKMHW]WQRFK DXIVWHKHQVROOXPGLH7UDE]XVSHUUHQ 'HQ ]LHUOLFKHQ .RSI DXI GHP .LVVHQ GLH NOHLQHQ +lQGH XQWHU GLH :DQJH JHVFKREHQXQGLPGLFKWHQZHOOLJHQ+DDUYHUJUDEHQODJVLHGDXQGVDKPLFK PLW JOLW]HUQGHQ $XJHQ XQDEOlVVLJ DQ ,KU VFKHXHV /lFKHOQ JDE PLU 5lWVHO DXI ,FK VDJWH LKU *XWHQDFKW XQG VFKOLFK PLFK XQDQJHQHKP EHUKUW DXV GHP =LPPHU ,FKKDEHPLFKRIWJHIUDJWREXQVHUVFK|QHU*DVWMHPDOVEHWHWH,FKMHGHQIDOOV KDEH&DUPLOODQLHPDOVNQLHQGHUEOLFNW0RUJHQVNDPVLHLPPHUHUVWKHUXQWHU ZHQQZLUDQGHUHQOlQJVWJHPHLQVDPJHEHWHWKDWWHQXQGDEHQGVEOLHEVLHVWHWV

LP 6DORQ VLW]HQ ZHQQ ZLU XQV LQ GHU +DOOH ]X HLQHU NXU]HQ $QGDFKW YHUVDPPHOWHQ +lWWH VLH QLFKW HLQHV 7DJHV LP 9HUODXI HLQHU XQEHVFKZHUWHQ 8QWHUKDOWXQJ EHLOlXILJHUZlKQWGDVLHJHWDXIWVHLPLUZlUHQ=ZHLIHOJHNRPPHQRELFKHV EHUKDXSWPLWHLQHU&KULVWLQ]XWXQKDWWHhEHU5HOLJLRQKDWWHLFKVLHQLHDXFK QXUHLQ:RUWVDJHQJHK|UW:HQQLFKGLH:HOWEHVVHUJHNDQQWKlWWHZlUH LFK EHU GLHVH $UW YRQ 'HVLQWHUHVVH RGHU $EQHLJXQJ QLFKW VR EHUUDVFKW JHZHVHQ 'LH 9RUVLFKWVPDQDKPHQ lQJVWOLFKHU 0HQVFKHQ ZLUNHQ DQVWHFNHQG XQG ZHUGHQYRQ lKQOLFK 9HUDQODJWHQ IDVW LPPHU IUKHU RGHUVSlWHUEHUQRPPHQ $XFK LFK KDWWH PLU DQJHZ|KQW GLH 6FKODI]LPPHUWU DE]XVFKOLHHQ GD PLFK &DUPLOODV )XUFKW YRU QlFKWOLFKHQ (LQGULQJOLQJHQ XQG KHUXPOXQJHUQGHQ 0|UGHUQ EHHLQGUXFNW KDWWH 8QG ZLH &DUPLOOD YHUJHZLVVHUWH DXFK LFK PLFK VWHWV GD QLUJHQGZR LP 6FKODI]LPPHU HLQ 0|UGHU RGHU 5lXEHU DXI GHU /DXHUODJ 1DFKGHPLFKDXFKDQMHQHP$EHQGGLHVHZHLVHQ9RUNHKUXQJHQJHWURIIHQKDWWH JLQJLFK]X%HWWXQGVFKOLHIHLQ,P=LPPHUEUDQQWHHLQH.HU]H'DUDQZDU LFKVHLWYLHOHQ-DKUHQJHZ|KQWXQGQLFKWVKlWWHPLFKEHZHJHQN|QQHQGDUDXI ]XYHU]LFKWHQ 8QWHU GLHVHQ 8PVWlQGHQ KlWWH LFK EHUXKLJW VFKODIHQ N|QQHQ $EHU 7UlXPH GULQJHQVRJDUGXUFK0DXHUQXQGPDFKHQGXQNOH5lXPHKHOOXQGKHOOHGXQNHO LKUH3KDQWRPHWUHWHQHLQXQGYHUVFKZLQGHQZLHHVLKQHQJHIlOOWXQGPDFKHQ VLFKEHUGHQ6FKORVVHUOXVWLJ ,QMHQHU1DFKWKDWWHLFKHLQHQ7UDXPPLWGHPIUPLFKHLQHK|FKVWVHOWVDPH /HLGHQV]HLWEHJDQQ ,FKNDQQLKQQLFKWDOV$OSWUDXPEH]HLFKQHQGHQQLFKZDUPLUGLHJDQ]H=HLW EHUEHZXWGDLFKIHVWVFKOLHI*OHLFK]HLWLJDEHUZDUPLUEHZXWGDLFK PLFKLQPHLQHP=LPPHUEHIDQGXQGLQPHLQHP%HWWODJJDQ]VRZLHHVGHU :LUNOLFKNHLW HQWVSUDFK ,FK VDK RGHU ELOGHWH PLU HLQ HV ]X VHKHQ GDV =LPPHU XQG GLH 0|EHO ZLH LFK VLH YRU GHP (LQVFKODIHQ JHVHKHQ KDWWH QXU ZDUGHU5DXPMHW]WVHKUGXQNHO$P)XHQGHGHV%HWWHVEHZHJWHVLFKHWZDV GD LFK DQIDQJV QLFKW JHQDX HUNHQQHQ NRQQWH 'DQQ VDK LFK GD HV HLQ NRKOVFKZDU]HV7LHUZDUlKQOLFKHLQHUULHVLJHQ.DW]H(VVFKLHQYLHUELVIQI )X ODQJ ]X VHLQ JHQDX VR ODQJ ZLH GHU .DPLQYRUOHJHU EHU GHQ LFK HV

VFKOHLFKHQ VDK 8QKHLPOLFK UXKHORV ZLH HLQ ZLOGHV 7LHU LP .lILJ OLHI HV VWlQGLJKLQXQGKHU,FKZDUQLFKWIlKLJ]XVFKUHLHQREZRKOLFKZLH6LHVLFK GHQNHQN|QQHQHQWVHW]OLFKH$QJVWKDWWH(VEHZHJWHVLFKLPPHUVFKQHOOHULP =LPPHU ZXUGH HV LPPHU GXQNOHU XQG VFKOLHOLFK NRQQWH LFK QXU QRFK VHLQH $XJHQ VHKHQ ,FK VSUWH ZLH HV JHVFKPHLGLJ DXIV %HWWVSUDQJ 'LH JURHQ $XJHQQlKHUWHQVLFKPHLQHP*HVLFKWXQGSO|W]OLFKVSUWHLFKHLQHQVWHFKHQGHQ 6FKPHU]VRDOVGUlQJHQPLU]ZHLODQJH1DGHOQLP$EVWDQGYRQQXUZHQLJHQ =ROOWLHILQGLH%UXVW,FKHUZDFKWHPLWHLQHP6FKUHL,P6FKHLQGHU.HU]H GLHGLHJDQ]H1DFKWJHEUDQQWKDWWHVDKLFKHLQHZHLEOLFKH*HVWDOWDP)XHQGH GHV %HWWHV VWHKHQ HWZDV UHFKWV YRQ GHU 0LWWH 6LH WUXJ HLQ GXQNOHV ORVHV *HZDQGXQGGLH+DDUHILHOHQLKU DXI GLH 6FKXOWHUQ %HZHJXQJVORV ZLH HLQ )HOVEORFNVWDQGVLHGD1LFKWGHUOHLVHVWH$WHP]XJZDU]XYHUQHKPHQ'RFK ZlKUHQG LFK VLH DQVWDUUWH VFKLHQ VLH VLFK XQPHUNOLFK YRQ GHU 6WHOOH EHZHJW XQG GHU 7UH JHQlKHUW ]X KDEHQ $OV VLH NXU] GDYRU VWDQG |IIQHWH VLFK GLH 7UXQGGLH*HVWDOWYHUVFKZDQG ,FKIKOWHPLFKEHIUHLWNRQQWHZLHGHUDWPHQ XQG PLFK EHZHJHQ 0HLQ HUVWHU *HGDQNHZDUGD&DUPLOODPLUHLQHQ6WUHLFKJHVSLHOWXQGGDLFKYHUJHVVHQ KDWWH GLH 7U DE]XVFKOLHHQ ,FK OLHI KLQ XQG IDQG VLH ZLH VWHWV YRQ LQQHQ YHUVSHUUW,FKKDWWH$QJVWVLH]X|IIQHQLFKZDUYRQ(QWVHW]HQJHSDFNW,FK IORK LQV %HWW ]RJ PLU GLH 'HFNH EHU GHQ .RSI XQG EOLHE PHKU WRW DOV OHEHQGLJELV]XP0RUJHQVROLHJHQ

9,,$EVWLHJ (V ZlUH VLQQORV ZROOWH LFK YHUVXFKHQ ,KQHQ GHQ 6FKDXGHU ]X EHVFKUHLEHQ GHU PLFK QRFK KHXWH EHL GHU (ULQQHUXQJ DQ MHQH 1DFKW HUJUHLIW ,FK IKOWH GDPDOV QLFKW GHQ YRUEHUJHKHQGHQ 6FKUHFNHQ GHQ HLQ 7UDXP KHUYRUUXIW HV ZDU YLHOPHKU HLQ 6FKUHFNHQ GHU VWlQGLJ LQWHQVLYHU ZXUGH GHU VLFK GHP =LPPHUXQGGHP0RELOLDUGDVGLH(UVFKHLQXQJXPJHEHQKDWWHPLWWHLOWH $P IROJHQGHQ 7DJ HUWUXJ LFK HV QLFKW DXFK QXU HLQHQ $XJHQEOLFN DOOHLQ ]X VHLQ ,FK KlWWH 3DSD DOOHV HU]lKOHQ VROOHQ DEHU ]ZHL *UQGH KLHOWHQ PLFK GDYRQ DE ]XP HLQHQ JODXEWH LFK HU ZUGH PLFK DXVODFKHQ XQG LFK KlWWH HV

QLFKW HUWUDJHQ ZHQQ PDQ GDV *DQ]H DOV HLQHQ 6FKHU] DEJHWDQ KlWWH ]XP DQGHUHQ IUFKWHWH LFK HU N|QQWH GHQNHQ LFK VHL YRQ MHQHP JHKHLPQLVYROOHQ /HLGHQ EHIDOOHQ GDV LQ GHU *HJHQG JUDVVLHUWH ,FK VHOEVW KDWWH LQ GLHVHU +LQVLFKWNHLQH%HGHQNHQXQGZROOWHLKPGDHUVHLWHLQLJHU=HLWNUlQNHOWHMHGH $XIUHJXQJHUVSDUHQ )U PLFK ZDU GLH $QZHVHQKHLW PHLQHU OLHEHQVZUGLJHQ *HVHOOVFKDIWHULQQHQ 0DGDPH3HUURGRQVXQGGHUPXQWHUHQ0DGHPRLVHOOH/DIRQWDLQH EHUXKLJHQG JHQXJ 'D EHLGH EHPHUNWHQ GD LFK GHSULPLHUW XQG QHUY|V ZDU HU]lKOWH LFK LKQHQVFKOLHOLFKZDVPLFKVRWLHIEHGUFNWH 0DGHPRLVHOOH ODFKWH LQ 0DGDPH 3HUURGRQV *HVLFKW KLQJHJHQ JODXEWH LFK $QJVW]XOHVHQ hEULJHQV VDJWH 0DGHPRLVHOOH ODFKHQG DXI GHU ODQJHQ /LQGHQDOOHH XQWHU &DUPLOODV6FKODI]LPPHUIHQVWHUVSXNW V 8QVLQQ ULHI 0DGDPH GHU HLQ VROFKHV 7KHPD LP $XJHQEOLFN ZRKO XQSDVVHQGHUVFKLHQ:HUYHUEUHLWHWGHQQVROFKH*HVFKLFKWHQPHLQH/LHEH" 0DUWLQ VDJW DOV GDV DOWH +RIWRU UHSDULHUW ZXUGH VHL HU ]ZHLPDO YRU 6RQQHQDXIJDQJ KHUDXIJHNRPPHQ XQG KDEH MHGHV 0DO JHVHKHQ ZLH HLQH ZHLEOLFKH*HVWDOWGLH/LQGHQDOOHHKLQXQWHUJLQJ 'DV LVW OHLFKW P|JOLFK GHQQ VFKOLHOLFK VLQG DXI GHQ :HLGHQ GUXQWHQ DP )OX.KHGLHJHPRONHQZHUGHQPVVHQ *HZL$EHU0DUWLQZLOOVLFKHEHQXQEHGLQJWIUFKWHQ8QGHLQ7|OSHOGHU VLFKPHKUIUFKWHWDOVGLHVHULVWPLUQRFKQLFKWEHJHJQHW 6LHGUIHQ&DUPLOODNHLQ:RUWGDYRQVDJHQZDUILFKHLQ6LHNDQQYRQ LKUHP)HQVWHUDXVGLH$OOHHVHKHQXQGVLHLVWZHQQGDVEHUKDXSWP|JOLFKLVW QRFKIHLJHUDOVLFK &DUPLOODNDPDQGLHVHP7DJQRFKVSlWHUDOVVRQVW]XXQVKHUXQWHU ,FKKDWWHKHXWHQDFKWVROFKH$QJVWVDJWHVLHVREDOGZLUDOOHLQZDUHQXQG LFKELQEHU]HXJWGDLFKHWZDV)XUFKWEDUHVJHVHKHQKlWWHZHQQLFKQLFKWGHP DUPHQ NOHLQHQ %XFNOLJHQ GHQ LFK VR KDUW JHVFKROWHQ KDEH HLQ $PXOHWW DEJHNDXIWKlWWH,FKVDKLP7UDXPHWZDV6FKZDU]HVXPPHLQ%HWWNULHFKHQ XQGDOVLFKYROOHU(QWVHW]HQHUZDFKWHJODXEWHLFKDP.DPLQVLPVHLQHGXQNOH *HVWDOW ]X HUNHQQHQ GRFK GDQQ VXFKWH LFK XQWHUP .RSINLVVHQ QDFK GHP $PXOHWWXQGDOVLFKHVEHUKUWHYHUVFKZDQGGLH(UVFKHLQXQJ,FKELQVLFKHU GD RKQH GDV $PXOHWW HWZDV 6FKUHFNOLFKHV DXIJHWDXFKW XQG PLFK YLHOOHLFKW

JHZUJWKlWWHJHQDXVRZLHMHQH%HGDXHUQVZHUWHQHVHUOHEWKDEHQ/DGLU HU]l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lFKVWH 1DFKW JLQJ JXW YRUEHU 0HLQ 6FKODI ZDU ZXQGHUEDU WLHI XQG WUDXPORV %HLP (UZDFKHQ DOOHUGLQJV ZDU LFK PDWW XQG PHODQFKROLVFK DEHUQRFKZDUHVHLQ=XVWDQGGHQLFKIDVWJHQR +DE LFK V GLU QLFKW JHVDJW" JDE PLU &DUPLOOD ]XU $QWZRUW DOV LFK LKU HU]lKOWHZLHJXWLFKMHW]WVFKOLHI$XFKLFKKDEHKHUUOLFKJHVFKODIHQ,FKKDWWH GDV$PXOHWWDQV1DFKWKHPGJHVWHFNW'LH1DFKWYRUKHUZDUHV]XZHLWYRQ PLUHQWIHUQW,FKELQ]LHPOLFKVLFKHUGDELVDXIGLH7UlXPHDOOHV(LQELOGXQJ JHZHVHQLVW)UKHUJODXEWHLFK7UlXPHVHLHQGDV:HUNE|VHU*HLVWHUDEHU XQVHU $U]W KDW PLU GDV DXVJHUHGHW (U VDJWH VLH N|QQWHQ GXUFK HLQ YRUEHUJHKHQGHV )LHEHU KHUYRUJHUXIHQ ZHUGHQ RGHU GDGXUFK GD LUJHQG HLQH DQGHUH.UDQNKHLWDQGLH7UNORSIWXQGXQVHUVFKUHFNWVLFKGDQQDEHUGDVLH QLFKWHLQJHODVVHQZLUGZLHGHUHQWIHUQW 8QGZDVKDWHVPLWGHP$PXOHWWDXIVLFK" (V LVW ZDKUVFKHLQOLFK LQ 5DXFK JHEHL]W RGHU LQ HLQH $U]QHL JHWDXFKW ZRUGHQ XQGZLUNWQXQZLHHLQ0LWWHOJHJHQGLH0DODULD 'DQQZLUNWHVDOVRQXUEHLN|USHUOLFKHQ/HLGHQ" 1DWUOLFK 'X JODXEVW GRFK ZRKO QLFKW GD E|VH *HLVWHU YRU HLQ ZHQLJ %DQG XQG $SRWKHNHQJHUXFK $QJVW EHNRPPHQ" $EHU ZHQQ HLQH .UDQNKHLW LQ GHU /XIW OLHJW YHUVXFKW VLH ]XHUVW GLH 1HUYHQ DQ]XJUHLIHQ XQG DXI GLHVHP :HJGDV*HKLUQ]XLQIL]LHUHQ'RFKEHYRUVLHXQVDWWDFNLHUHQNDQQZLUGVLH YRQGHP*HJHQPLWWHODEJHVWRHQ,FKJODXEHEHVWLPPWGDXQVHUH$PXOHWWH VR JHZLUNW KDEHQ 'DV LVW NHLQH =DXEHUHL VRQGHUQ HLQ JDQ] QDWUOLFKHU 9RUJDQJ

0LU ZlUH ZRKOHU JHZHVHQ KlWWH LFK &DUPLOODV 7KHRULH YROO XQG JDQ] ]XVWLPPHQ N|QQHQ $EHU LFK YHUVXFKWH HV ZHQLJVWHQV XQG VSUWH ZLH GLH :LUNXQJMHQHV(UOHEQLVVHVDOOPlKOLFKQDFKOLH ,Q GHQ IROJHQGHQ 1lFKWHQ VFKOLHI LFK WLHI DEHU DP 0RUJHQ IKOWH LFK PLFK VWHWVDEJHVSDQQWXQGGHQJDQ]HQ7DJZLFKGLHODVWHQGH0GLJNHLWQLFKWYRQ PLU ,FK IKOWH PLFK YHUZDQGHOW (LQH VHOWVDPH 6FKZHUPXW EHVFKOLFK PLFK HLQH 6FKZHUPXW DXV GHU LFK QLFKW DXIJHVW|UW VHLQ ZROOWH 9DJH 7RGHVJHGDQNHQ EHJDQQHQ VLFK LQ PLU ]X UHJHQ XQG GDV *HIKO HLQHV ODQJVDPHQ +LQDEVLQNHQV HUJULII VDQIW XQG JHZLVVHUPDHQ PLW PHLQHU WUDXULJHQ=XVWLPPXQJ%HVLW]YRQPLU0DJHVQRFKVRWUDXULJJHZHVHQVHLQ GLH6WLPPXQJLQGLHHVPLFKYHUVHW]WHHPSIDQGLFKMHGHQIDOOVDOVZRKOWXHQG *DQ]JOHLFKZDVPLWPLUJHVFKDKPHLQH6HHOHIKOWHVLFKGUHLQ ,FKJDEQLFKW]XGDLFKNUDQNZDULFKNRQQWHPLFKQLFKWHQWVFKOLHHQPLFK PHLQHP9DWHUDQ]XYHUWUDXHQXQGGHQ$U]WKROHQ]XODVVHQ &DUPLOODZLGPHWHVLFKPLUQRFK]lUWOLFKHUDOV]XYRUXQGOLHPLFKLPPHU|IWHU MHQH VFKPDFKWHQGH $QEHWXQJ VSUHQ GLH PLU VR SDUDGR[ HUVFKLHQ 'LH *OXW LKUHU %OLFNH ZXUGH XP VR YHU]HKUHQGHU MH PHKU PHLQH N|USHUOLFKHQ XQG VHHOLVFKHQ .UlIWH VFKZDQGHQ 'LHVH %OLFNH VFKRFNLHUWHQ PLFK LPPHU YRQ QHXHPVLHZDUHQZLHGDVPRPHQWDQH$XIIODFNHUQGHV:DKQVLQQV ,FK DKQWH QLFKW GD LFK PLFK EHUHLWV LQ HLQHP IRUWJHVFKULWWHQHQ .UDQNKHLWVVWDGLXPEHIDQGXQGGDPHLQ/HLGHQGDVVHOWVDPVWHZDUGDVGHQ 0HQVFKHQ EHIDOOHQ NDQQ 'LH IUKHQ 6\PSWRPH KDWWHQ PLFK XQHUNOlUOLFKHUZHLVH VR IDV]LQLHUW GD LFK GLH VSlWHU HLQVHW]HQGH OlKPHQGH :LUNXQJ QXU ]X JHUQ LQ .DXI QDKP -HQH )DV]LQDWLRQ KDWWH VLFK VWlQGLJ YHUVWlUNWELVGDQQYRQHLQHPEHVWLPPWHQ3XQNWDQGLH$KQXQJYRQHWZDV 6FKUHFNOLFKHP VLFK PLW LKU YHUPLVFKWH HLQH $KQXQJ GLH ZLH 6LH K|UHQ ZHUGHQ LPPHU GURKHQGHU ZXUGH XQG VFKOLHOLFK PHLQ JDQ]HV 'DVHLQ YHUGXQNHOWHXQGSHUYHUWLHUWH 'LHHUVWH9HUlQGHUXQJGLHPLWPLU YRUJLQJ ZDU QRFK UHFKW ZRKOWXHQG 6LH WUDW NXU] YRU GHP :HQGHSXQNW HLQ QDFK GHP GHU $EVWLHJ LQ GHQ $YHUQXV EHJDQQ ,P6FKODIEHUNDPHQPLFKXQNODUHVRQGHUEDUH(PSILQGXQJHQ0HLVWZDUHV ZLHGDVZRKOLJH(UVFKDXHUQGDVHLQHQEHIlOOWZHQQPDQVLFKEHLP%DGHQLP )OX GHU 6WU|PXQJ HQWJHJHQVWHOOW %DOG VWHOOWHQ VLFK 7UlXPH HLQ GLH VR

HQGORVXQGYDJHZDUHQGDLFKPLFKKLQWHUKHUZHGHUDQ6FKDXSOlW]HQRFKDQ 3HUVRQHQQRFKDQLUJHQGHLQHQ=XVDPPHQKDQJHULQQHUQNRQQWH'HQQRFKZDU LKUH1DFKZLUNXQJIXUFKWEDUVLHHUVFK|SIWHQPLFKVRDOVKlWWHLFKHLQHODQJH 3HULRGHJHLVWLJHU$QVWUHQJXQJRGHUJURHU*HIDKUKLQWHUPLU:HQQLFKDXV GLHVHQ 7UlXPHQ HUZDFKWH KDWWH LFK GDV *HIKO DQ HLQHP IDVW VWRFNGXQNOHQ 2UWJHZHVHQ]XVHLQXQGPLW/HXWHQJHVSURFKHQ]XKDEHQGLHLFKQLFKWVHKHQ NRQQWH 9RU DOOHP DEHU HULQQHUWH LFK PLFK DQ HLQH NODUH VHKU WLHIH )UDXHQVWLPPHGLHDXVGHU(QWIHUQXQJ]XNRPPHQVFKLHQJHWUDJHQNODQJXQG LQ PLU VWHWV HLQ XQEHVFKUHLEOLFKHV *HIKO HLQH 0LVFKXQJ YRQ (UQVW XQG )XUFKW DXVO|VWH 0DQFKPDO PHLQWH LFK ]X VSUHQ ZLH HLQH +DQG PLU VDQIW EHU :DQJHQ XQG +DOV VWULFK 0DQFKPDO ZDU PLU DOV NWH PLFK HLQ ZDUPHU0XQGLPPHUOlQJHUXQG]lUWOLFKHUMHQlKHUHUPHLQHU.HKOHNDPZR HU GDQQ MHGHV 0DO YHUKDUUWH 0HLQ +HU] VFKOXJ VFKQHOOHU LFK DWPHWH LPPHU UDVFKHUXQGWLHIHUGDQQ EHUNDPPLFKHLQ6FKOXFK]HQGDVPLUODQJVDPGHQ $WHPDEVFKQUWHELVPLFKVFKOLHOLFKHLQVFKUHFNOLFKHU.UDPSIVFKWWHOWHXQG LFKGDV%HZXWVHLQYHUORU 6HLWGUHL:RFKHQEHIDQGLFKPLFKQXQVFKRQLQGLHVHPUlWVHOKDIWHQ=XVWDQG XQG VHLW HLQHU :RFKH ZDU PLU DQ]XVHKHQ GD LFK OLWW ,FK ZDU EOD KDWWH 6FKDWWHQXQWHUGHQXQQDWUOLFKJURHUVFKHLQHQGHQ$XJHQXQGGLH0DWWLJNHLW YRQGHULFKVHLWODQJHPEHIDOOHQZDUYHUULHWVLFKLQPHLQHU+DOWXQJ 0HLQ9DWHUIUDJWHPLFKRIWRELFKNUDQNVHLDEHUPLWHLQHU+DUWQlFNLJNHLW GLHPLUKHXWHXQYHUVWlQGOLFKVFKHLQWYHUVLFKHUWHLFKLKPLPPHUZLHGHULFKIKOH PLFKGXUFKDXVZRKO ,QJHZLVVHU:HLVHWUDIGDVVRJDU]X,FKKDWWHNHLQH6FKPHU]HQXQGNRQQWH PLFK QLFKW EHU LUJHQG ZHOFKH SK\VLVFKHQ 6W|UXQJHQ EHNODJHQ (LQ]LJ PHLQ *HLVW XQG PHLQH 1HUYHQ VFKLHQHQ YRQ GHP /HLGHQ EHIDOOHQ XQG VR )UFKWHUOLFKHV LFK LQ GLHVHU +LQVLFKW DXFK HUGXOGHQ PXWH LQ NUDQNKDIWHU 6FKHXYHUVFKORLFKIDVWDOOHVLQPLU $XFK &DUPLOOD NODJWH EHU VFKOLPPH 7UlXPH XQG )LHEHUDQIlOOH GLH IUHLOLFK OlQJVW QLFKW VR DODUPLHUHQG ZDUHQ ZLH PHLQH +lWWH LFK JHDKQW ZDV PHLQ =XVWDQG ]X EHGHXWHQ KDWWH LFK KlWWH DXI .QLHQ XP 5DW XQG +LOIH JHIOHKW $EHU LFK VWDQG XQWHU GHP OlKPHQGHQ (LQIOX HLQHU PLU XQEHNDQQWHQ 0DFKW XQGPHLQ:DKUQHKPXQJVYHUP|JHQZDUJHWUEW ,FK ZLOO ,KQHQ MHW]W YRQ HLQHP 7UDXP EHULFKWHQ GHU JHUDGHZHJV ]X HLQHU

VHOWVDPHQ(QWGHFNXQJIKUWH (LQHV1DFKWVYHUQDKPLFKVWDWWGHUJHZRKQWHQ6WLPPHHLQHDQGHUHGLHVDQIW XQG]lUWOLFKNODQJXQGGRFKIXUFKWEDUZDU6LHVDJWH'HLQH0XWWHUZDUQW GLFK YRU GHP 0|UGHU ,P JOHLFKHQ $XJHQEOLFN ZXUGH HV KHOO XQG LFK VDK &DUPLOODDP)XHQGHGHV%HWWHVVWHKHQLQLKUHPZHLHQ1DFKWKHPGXQGYRQ .RSIELV)XPLW%OXWEHVSULW]W ,FK HUZDFKWH PLW HLQHP JHOOHQGHQ 6FKUHL EHVHVVHQ YRQ GHP *HGDQNHQ GD &DUPLOOD HUPRUGHW ZHUGHQ VROOWH ,FK ZHL QRFK GD LFK DXV GHP %HWW VSUDQJ XQG GDV QlFKVWH ZRUDQ LFK PLFK HULQQHUQ NDQQ LVW GD LFK LP .RUULGRU VWDQG XQG XP +LOIH ULHI 0DGDPH XQG 0DGHPRLVHOOH VWU]WHQ DXIJHUHJWDXVLKUHQ=LPPHUQHUEOLFNWHQPLFKLP6FKHLQGHU/DPSHGLHVWHWV LP.RUULGRUEUDQQWHXQGHUIXKUHQGHQ*UXQGPHLQHV6FKUHFNHQV ,FK EHVWDQG GDUDXI DQ &DUPLOODV 7U ]X NORSIHQ :LU HUKLHOWHQ NHLQH $QWZRUW'DQQKlPPHUWHQZLUXQJHVWPDXIGLH7UHLQXQGULHIHQODXWLKUHQ 1DPHQDEHUDOOHVZDUYHUJHEHQV )XUFKW HUJULII XQV GHQQ GLH 7U ZDU YHUVFKORVVHQ ,Q SDQLVFKHU $QJVW UDQQWHQ ZLU LQ PHLQ =LPPHU VWU]WHQ ]XU .OLQJHO XQG OlXWHWHQ ODQJ XQG KHIWLJ+lWWHPHLQ9DWHUDXFKLQGLHVHP)OJHOGHV+DXVHV JHVFKODIHQ ZLU KlWWHQ LKQ VRIRUW ]X +LOIH JHUXIHQ $EHU OHLGHU ZDU HU DXHU +|UZHLWH XQG NHLQHYRQXQVKDWWHGHQ0XWVLFKDXIGHQODQJHQ:HJELV]XVHLQHP=LPPHU ]XPDFKHQ .XU] GDQDFK HLOWHQ 'LHQVWERWHQ GLH 7UHSSH KHUDXI 0HLQH *HIlKUWLQQHQ XQG LFK KDWWHQ LQ]ZLVFKHQ 0RUJHQU|FNH XQG 3DQWRIIHOQ DQJH]RJHQ $OV ZLU GLH 6WLPPHQ GHU 'LHQHU K|UWHQ JLQJHQ ZLU ]X GULWW KLQDXV XQG QDFKGHP ZLU ZLHGHUYHUJHEOLFKDQ&DUPLOODV7UJHNORSIWKDWWHQEHIDKOLFKGHQ0lQQHUQ GDV6FKORDXI]XEUHFKHQ'DQQVWDQGHQZLUPLW.HU]HQLQGHQ+lQGHQDXI GHU6FKZHOOHXQGVWDUUWHQLQV=LPPHU :LU ULHIHQ LKUHQ 1DPHQ DEHU QRFK LPPHU NDP NHLQH $QWZRUW :LU VDKHQ XQVLP=LPPHUXP1LFKWVZDUYHUlQGHUW$OOHVZDUQRFKJHQDXVRZLHDP $EHQGDOVLFKLKU*XWHQDFKWJHVDJWKDWWH$EHU&DUPLOODZDUYHUVFKZXQGHQ

9,,,$XIGHU6XFKH

%HLP $QEOLFN GHV =LPPHUV LQ GHP VLFK DXHU XQVHUHP JHZDOWVDPHQ (LQGULQJHQQLFKWVHUHLJQHWKDWWHOLHXQVHUH$XIUHJXQJQDFKXQGEDOGZDUHQ ZLUJHIDWJHQXJXPGLH'LHQHUVFKDIWZHJ]XVFKLFNHQ0DGHPRLVHOOHNDPDXI GHQ *HGDQNHQ &DUPLOOD VHL YLHOOHLFKW GXUFK GHQ /lUP YRU LKUHU 7U DXIJHVFKUHFNWZRUGHQKDEHVLFKLQHLQHP6FKUDQNRGHUKLQWHUHLQHP9RUKDQJ YHUERUJHQ XQG VLFK YHUVWlQGOLFKHUZHLVH QLFKW KHUYRUJHZDJW VRODQJH GHU +DXVPHLVWHUXQGVHLQH*HKLOIHQLP=LPPHUZDUHQ:LUEHJDQQHQDOVRQDFK LKU]XVXFKHQXQGULHIHQYRQQHXHPLKUHQ1DPHQ (V ZDU ]ZHFNORV 8QVHUH %HVWU]XQJ XQG (UUHJXQJ ZXFKV :LU XQWHUVXFKWHQ GLH )HQVWHU DEHU VLH ZDUHQ YHUULHJHOW ,FK EDW &DUPLOOD LQVWlQGLJ VLFK QLFKW OlQJHU ]X YHUVWHFNHQ XQG XQV VR JUDXVDP PLW]XVSLHOHQ VRQGHUQKHUYRU]XNRPPHQXQGXQVHUHU6RUJHHLQ(QGH]XPDFKHQ$EHUDOOHV ZDUXPVRQVW-HW]WZDULFKEHU]HXJWGDVLHVLFKZHGHULP=LPPHUQRFKLP $QNOHLGHUDXPDXIKLHOWGHVVHQ7UYRQDXHQYHUVSHUUWZDU,FKZDUY|OOLJ YHUZLUUW +DWWH &DUPLOOD HWZD HLQHQ MHQHU *HKHLPJlQJH HQWGHFNW GLH QDFK $XVVDJH GHU DOWHQ +DXVKlOWHULQ IUKHU H[LVWLHUW KDWWHQ GHUHQ JHQDXH /DJH DEHU QLHPDQG PHKU NDQQWH" 1XQ VR YHUEOIIW ZLU LP $XJHQEOLFN ZDUHQ ELQQHQNXU]HPZUGHVLFKJHZLDOOHVDXINOlUHQ (V ZDU MHW]W QDFK YLHU 8KU PRUJHQV XQG LFK ]RJ HV YRU VRODQJH HV QRFK GXQNHOZDULQ0DGDPHV=LPPHU]XEOHLEHQ$EHUDXFKGDV7DJHVOLFKWEUDFKWH XQVGHU/|VXQJGHV5lWVHOVQLFKWQlKHU 'HUJDQ]H+DXVKDOWPHLQ9DWHUDQGHU6SLW]HZDUDPQlFKVWHQ0RUJHQLQ $XIUXKU 'DV 6FKOR ZXUGH JHQDX GXUFKVXFKW GHVJOHLFKHQ GLH QlKHUH 8PJHEXQJ9RQGHUYHUPLWHQMXQJHQ'DPHNHLQH6SXU0DQVFKLFNWHVLFK DQGHQ)OXQDFKLKUDE]XVXFKHQ0HLQ9DWHUZDUYHU]ZHLIHOW:DVVROOWHHU GHU 0XWWHU GHV DUPHQ 0lGFKHQV EHL LKUHU 5FNNHKU VDJHQ" $XFK LFK ZDU DXHUPLUZHQQJOHLFKPHLQ.XPPHUJDQ]DQGHUHU$UWZDU 'HU9RUPLWWDJYHUJLQJLQ6RUJHXQG$XIUHJXQJ(VZDUMHW]WHLQ8KUXQG QRFKLPPHUKDWWHQZLUNHLQH1DFKULFKW,FKJLQJKLQDXILQ&DUPLOODV=LPPHU XQGVDKVLHYRULKUHU)ULVLHUNRPPRGHVWHKHQ,FKWUDXWHPHLQHQ$XJHQQLFKW 6FKZHLJHQG KRE VLH GLH +DQG XQG ZLQNWH PLFK ]X VLFK ,KU *HVLFKW YHUULHW VFKUHFNOLFKH$QJVW

,Q HLQHP )UHXGHQWDXPHO UDQQWH LFK ]X LKU :LHGHU XQG ZLHGHU NWH XQG XPDUPWH LFK VLH 'DQQ OLHI LFK ]XU .OLQJHO XQG OlXWHWH PLW DOOHU .UDIW XP /HXWHKHUEHL]XUXIHQXQGPHLQHP9DWHUVRIRUWGLHJXWH1DFKULFKWEHUEULQJHQ ]XODVVHQ /LHEVWH&DUPLOODZDVLVWJHVFKHKHQ":LUKDEHQXQV]X7RGHJHlQJVWLJW ULHI LFK :R ZDUVW GX QXU GLH JDQ]H =HLW" 8QG ZLH ELVW GX ]XUFNJHNRPPHQ" 'LHVH1DFKWZDUHLQH1DFKWYROOHUP\VWHUL|VHU(UHLJQLVVHVDJWHVLH 8P+LPPHOVZLOOHQVRHU]lKO GRFK (V ZDU QDFK ]ZHL 8KU EHJDQQ VLH DOV LFK HQGOLFK HLQVFKOLHI :LH VWHWV KDWWH LFK GLH 7UHQ DEJHVFKORVVHQ GLH ]XP $QNOHLGHUDXP XQG GLH ]XP .RUULGRU,FKVFKOLHIUXKLJXQGZLHLFKJODXEHWUDXPORV$EHUHEHQELQLFK DXIGHP6RIDGUEHQLP$QNOHLGHUDXPDXIJHZDFKWIDQGGLHVH7URIIHQXQG GLH ]XP .RUULGRU DXIJHEURFKHQ :LH NRQQWH GDV JHVFKHKHQ RKQH GD LFK HWZDV GDYRQ JHK|UW KDEH" (V PX JURHQ /lUP YHUXUVDFKW KDEHQ XQG LFK KDEHGRFKVRQVWHLQHQDXVQHKPHQGOHLFKWHQ6FKODI8QGZLHNRQQWHPDQPLFK DXV GHP %HWW KHEHQ RKQH GD LFK DXIJHZDFKW ELQ ZR LFK GRFK VRQVW EHLP JHULQJVWHQ*HUlXVFKKRFKVFKUHFNH" ,Q]ZLVFKHQ ZDUHQ 0DGDPH 0DGHPRLVHOOH 3DSD XQG HLQLJH 'LHQVWERWHQ HUVFKLHQHQ 1DWUOLFK EHJUWHQ VLH &DUPLOOD IUHXGLJ EHJOFNZQVFKWHQ VLH XQG EHVWUPWHQ VLH PLW )UDJHQ 6LH HU]lKOWH LPPHU ZLHGHU GLH JOHLFKH *HVFKLFKWH XQG VFKLHQ DP ZHQLJVWHQ YRQ XQV DOOHQ LQ GHU /DJH GDV *HVFKHKHQH]XHUNOl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lWWHPHKU5HFKWGD]XDOV6LH"HUZLGHUWHVLH)UDJHQ6LHZDV6LH

ZROOHQ LFK ZHUGH DOOHV EHDQWZRUWHQ :DV LFK ]X EHULFKWHQ KDEH LVW DOOHUGLQJV YHUZLUUHQG XQG UlWVHOKDIW ,FK ZHL DEVROXW QLFKWV 6WHOOHQ 6LH )UDJHQ QDFK %HOLHEHQ 'LH %HVFKUlQNXQJHQ GLH 0DPD PLU DXIHUOHJW KDW NHQQHQ6LHMD *HZLOLHEHV.LQG(VLVWQLFKWQ|WLJGLH'LQJH]XHUZlKQHQEHUGLHZLU LKUHP :XQVFK HQWVSUHFKHQG VFKZHLJHQ PVVHQ $OVR GDV 5lWVHO GLHVHU 1DFKW EHVWHKW GDULQ GD PDQ 6LH DXV GHP %HWW XQG DXV GHP =LPPHU JHWUDJHQKDWRKQHGD6LHDXIZDFKWHQXQGGDVLFKGDVDOOHVDEVSLHOWHDOV GLH)HQVWHUQRFKYHUULHJHOWXQGGLH7UHQQRFKYRQLQQHQYHUVFKORVVHQZDUHQ 6LHVROOHQPHLQH7KHRULHHUIDKUHQ]XYRUDEHUP|FKWHLFK6LHHWZDVIUDJHQ $XI LKUHQ $UP JHOHKQW VD &DUPLOOD QLHGHUJHVFKODJHQ QHEHQ LKP ZlKUHQG 0DGDPHXQGLFKDWHPORVODXVFKWHQ +LHU PHLQH )UDJH ,VW ,KQHQ MHPDOV ]X 2KUHQ JHNRPPHQ GD 6LH VFKODIZDQGHOQ" 1LFKWPHKUVHLWPHLQHU.LQGKHLW $EHUGDPDOVVLQG6LHLP6FKODIJHZDQGHOW" -DLFKHULQQHUHPLFKQRFKJDQ]JHQDX0HLQHDOWH.LQGHUIUDXKDWHVPLURIW HU]lKOW 0HLQ9DWHUQLFNWHOlFKHOQG 1XQGDQQLVWDOVRIROJHQGHVJHVFKHKHQ6LHVLQGLP6FKODIDXIJHVWDQGHQ KDEHQ GLH 7U DXIJHVSHUUW GHQ 6FKOVVHO DEHU QLFKW ZLH JHZ|KQOLFK VWHFNHQ ODVVHQVRQGHUQDEJH]RJHQXQGGLH7UYRQDXHQYHUVFKORVVHQ'DQQKDEHQ 6LHGHQ6FKOVVHOZLHGHUDEJH]RJHQXQGLKQPLWJHQRPPHQYLHOOHLFKWLQHLQHQ GHU IQIXQG]ZDQ]LJ 5lXPH GLHVHV 6WRFNZHUNV YLHOOHLFKW LQ GHQ REHUHQ YLHOOHLFKWLQGHQXQWHUHQ6WRFN+LHUJLEWHVVRYLHOH=LPPHUXQG6FKUlQNH VRYLHOVFKZHUHV0RELOLDUXQGVROFKH0HQJHQYRQDOWHP*HUPSHOGDPDQ HLQH :RFKH EUDXFKWH ZROOWH PDQ GLHVHV +DXV JUQGOLFK GXUFKVXFKHQ 9HUVWHKHQ6LHMHW]WZDVLFKPHLQH"-DDEHUQLFKWDOOHVHUZLGHUWHVLH 3DSD ZLH HUNOlUVW GX GLU DEHU GD VLH DXI GHP 6RID LP $QNOHLGH]LPPHU DXIJHZDFKWLVWLQGHPZLUXQVGRFKVRJHQDXXPJHVHKHQKDEHQ" 6LH EHWUDW GHQ 5DXP QRFK LPPHU LP 6FKODI QDFKGHP LKU LKQ GXUFKVXFKW KDWWHW HUZDFKWH VFKOLHOLFK YRQ VHOEVW XQG ZDU HEHQVR HUVWDXQW GDUEHU ZR VLHVLFKEHIDQGZLHZLU,FKZROOWHDOOH*HKHLPQLVVHOLHHQVLFKVROHLFKWXQG KDUPORVDXINOlUHQZLH,KUHV&DUPLOODVDJWHHUODFKHQG8QGZLUN|QQHQ

XQV ]X GHU *HZLKHLW EHJOFNZQVFKHQ GD GLHVHU 9RUIDOO VLFK DXI GLH QDWUOLFKVWH :HLVH HUNOlUHQ OlW XQG QLFKWV PLW %HWlXEXQJVPLWWHOQ PDQLSXOLHUWHQ 7UVFKO|VVHUQ (LQEUHFKHUQ *LIWPLVFKHUQ RGHU +H[HQ ]X WXQ KDWPLWQLFKWVDOVRGDV&DUPLOODRGHUVRQVWMHPDQGHQYHUDQODVVHQN|QQWH XPXQVHUH6LFKHUKHLW]XIUFKWHQ &DUPLOODVDKUHL]HQGDXV,KUURVLJHU7HLQWZDUXQYHUJOHLFKOLFK,FKJODXEH GDGLHLKUHLJHQHWUlJH$QPXWLKUH6FK|QKHLWQRFKXQWHUVWULFK0HLQ9DWHU PXZRKOLKU$XVVHKHQLQVJHKHLPPLWPHLQHPYHUJOLFKHQKDEHQGHQQHUVDJWH ,FKZROOWHPHLQHDUPH/DXUDVlKHZLHGHUVRJHVXQGDXVZLHIUKHU 8QVHUH $XIUHJXQJ ZDU DOVR JOFNOLFK YRUEHU XQG &DUPLOOD ZDU LKUHQ )UHXQGHQZLHGHUJHJHEHQ

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lKOWHLKPPHLQH*HVFKLFKWHXQGHUZXUGH]XVHKHQGVHUQVWHU (UVWDQGPLULQHLQHUGHU)HQVWHUQLVFKHQJHJHQEHU$OVLFKLKPDOOHVJHVDJW KDWWHOHKQWHHUVLFKJHJHQGLH:DQGXQGVDKPLFKVFKDUIDQLQVHLQHQ$XJHQ JORPP(QWVHW]HQDXI 1DFK NXU]HP hEHUOHJHQ IUDJWH HU 0DGDPH RE HU PHLQHQ 9DWHU VSUHFKHQ N|QQH .XU]GDUDXIWUDWGLHVHUOlFKHOQGHLQXQGVDJWH +HUU'RNWRU6LHZROOHQPLUVLFKHUVDJHQGDLFKHLQDOWHU1DUUELQXQG 6LHXPVRQVWKHUJHEHWHQKDEH+RIIHQWOLFKLVWHVVR

'RFK VHLQ /lFKHOQ YHUVFKZDQG DOV GHU $U]W LKQ PLW HUQVWHU 0LHQH ]X VLFK ZLQNWH 'LHEHLGHQXQWHUKLHOWHQVLFKHLQH=HLWODQJLQGHUVHOEHQ)HQVWHUQLVFKHLQGHULFK PLW GHP $U]W JHVSURFKHQ KDWWH 6LH VFKLHQHQ HUQVWKDIW XQG YHUELVVHQ ]X GLVNXWLHUHQ 0DGDPH XQG LFK VWDQGHQ DP DQGHUHQ (QGH GHV VHKU JURHQ 5DXPHV XQG EUDQQWHQ YRU 1HXJLHU $EHU ZLU NRQQWHQ QLFKW HLQ :RUW YHUVWHKHQGHQQVLHVSUDFKHQVHKUOHLVH=XGHPYHUGHFNWHGLH1LVFKHGHQ$U]W JDQ] XQG YRQ PHLQHP 9DWHU NRQQWHQ ZLU QXU HLQH 6FKXOWHU HLQHQ )X XQG HLQHQ $UP VHKHQ 8QG ZDKUVFKHLQOLFK ZLUNWH GLH 1LVFKH VHOEVW GLH YRQ GHQ VWDUNHQ0DXHUQXQGGHP)HQVWHUJHELOGHWZXUGHVFKDOOGlPSIHQG 1DFK HLQLJHU =HLW VDK PHLQ 9DWHU ]X XQV KHUEHU 6HLQ *HVLFKW ZDU EOD QDFKGHQNOLFKXQGYHUULHWZLHPLUVFKLHQWLHIH(UUHJXQJ /DXUD NRPP HLQHQ $XJHQEOLFN KHU 0DGDPH GHU 'RNWRU PHLQW GD ZLU ,KUHU+LOIHLP$XJHQEOLFNQLFKWEHGUIHQ $OV LFK DXI GLH EHLGHQ ]XJLQJ HPSIDQG LFK ]XP HUVWHQ 0DO HLQH OHLFKWH %HVRUJQLV %LVKHU KDWWH LFK PLFK REZRKO LFK VHKU JHVFKZlFKW ZDU QLFKW HLJHQWOLFK NUDQN JHIKOW XQG PDQ ELOGHW VLFK MD LPPHU HLQ GD PDQ VFKRQ ZLHGHU]X.UlIWHQNRPPHQZLUGZHQQPDQHVHUQVWOLFKYHUVXFKW0HLQ9DWHU VWUHFNWHPLUGLH+DQGKLQVDKDEHUQLFKWPLFKVRQGHUQGHQ$U]WDQ(UVDJWH 'DV LVW DOOHV VHKU VHOWVDP ,FK NDQQ HV QLFKW JDQ] YHUVWHKHQ .RPP KHU /DXUD+|UH'RNWRU6SLHOVEHUJHLQPDOJDQ]DXIPHUNVDP]X/LHEHV 6LHHUZlKQWHQ6LHKlWWHQLQGHU1DFKW,KUHVHUVWHQVFKUHFNOLFKHQ7UDXPHV GDV*HIKOJHKDEWDOVGUlQJHQ,KQHQ]ZHL1DGHOQLQGLH+DXWXQG]ZDULQ GHU+DOVJHJHQG+DEHQ6LHGRUWQRFK6FKPHU]HQ" 1LFKWLPJHULQJVWHQ .|QQHQ6LHPLUXQJHIlKU]HLJHQZR6LHGDPDOVGHQ6FKPHU]VSUWHQ" (VZDUGLFKWXQWHUGHU.HKOHKLHU ,FKWUXJHLQ+DXVNOHLGGDVGLH6WHOOHDXIGLHLFKGHXWHWHYHUEDUJ -HW]W N|QQHQ 6LH VLFK YHUJHZLVVHUQ VDJWH GHU $U]W ]X PHLQHP 9DWHU /DXUD 6LH ZHUGHQ QLFKWV GDJHJHQ KDEHQ ZHQQ ,KU 3DSD ,KU .OHLG HLQ ZHQLJ KLQXQWHUVFKLHEW 1XU VR N|QQHQ ZLU HLQ 6\PSWRP GHU .UDQNKHLW HQWGHFNHQXQWHUGHU6LHJHOLWWHQKDEHQ ,FKJHKRUFKWH'LH6WHOOHZDUQXUHLQRGHU]ZHL=ROOXQWHUGHP.UDJHQUDQG *URHU*RWWKLHULVWHVULHIPHLQ9DWHUHUEOHLFKHQG

-HW]W VHKHQ 6LH HV PLW HLJHQHQ $XJHQ VDJWH GHU $U]W LP 7RQ GVWHUHQ 7ULXPSKHV :DVLVWGHQQGD]XVHKHQ"IUDJWHLFKYROOHU$QJVW 1LFKWVZHLWHUPHLQ)UlXOHLQDOVHLQZLQ]LJHUEODXHU)OHFNQLFKWJU|HUDOV GLH 6SLW]H ,KUHV NOHLQHQ )LQJHUV 8QG MHW]W IJWH HU ]X 3DSD JHZDQGW KLQ]XLVW]XEHUOHJHQZDVZLUWXQVROOHQ ,VWHVJHIlKUOLFK"IUDJWHLFKEHVWU]W ,FKJODXEHQLFKWOLHEHV.LQGHUZLGHUWHGHU$U]W1LFKWVVSULFKWGDJHJHQ GD6LHZLHGHUJDQ]JHVXQGZHUGHQXQGQLFKWVGDJHJHQGD6LHVRIRUWGDPLW EHJLQQHQ*HKWGDVZUJHQGH*HIKOYRQGLHVHU6WHOOHDXV" ,FKEHMDKWH 8QGYHUVXFKHQ6LHVLFKJHQDX]XHULQQHUQZDUGDVDXFKGLH6WHOOHYRQ GHU GDV (UVFKDXHUQ DXVJLQJ GDV 6LH PLU YRUKLQ EHVFKULHEHQ KDEHQ GDV *HIKODOVVWlQGHQ6LHLQGHUNDOWHQ6WU|PXQJHLQHV)OXVVHV" (VNDQQVHLQLFKJODXEHMD 6HKHQ 6LH" VDJWH HU ]X PHLQHP 9DWHU 6ROO LFK MHW]W PLW 0DGDPH VSUHFKHQ" 8QEHGLQJW 'HU$U]WULHI0DGDPH]XVLFKXQGHUNOlUWHLKU ,FK ELQ PLW GHP *HVXQGKHLWV]XVWDQG XQVHUHU MXQJHQ )UHXQGLQ JDU QLFKW ]XIULHGHQ ,FK KRIIH HV LVW QLFKWV (UQVWHV DEHU ZLU PVVHQ WURW]GHP HWZDV XQWHUQHKPHQ ,FK ZHUGH GLH Q|WLJHQ $QZHLVXQJHQ UHFKW]HLWLJ JHEHQ %LWWH VRUJHQ 6LH 0DGDPH LQ]ZLVFKHQ GDIU GD )UlXOHLQ /DXUD NHLQHQ $XJHQEOLFN DOOHLQ LVW )UV HUVWH JHQJW GLHVH 9RUVLFKWVPDQDKPH 6LH LVW XQEHGLQJW]XEHDFKWHQ 0DGDPHLFKZHLGDZLUXQVDXI6LHYHUODVVHQN|QQHQVHW]WHPHLQ9DWHU KLQ]X6LHEHVWlWLJWHHVLKPQDFKGUFNOLFK 8QGLFKZHLGDGX/DXUDGLHVH$QZHLVXQJEHIROJHQZLUVW =XP $U]W JHZDQGW IXKU HU IRUW ,FK ZUGH JHUQH ,KUH 0HLQXQJ EHU HLQH DQGHUH3DWLHQWLQK|UHQGHUHQ.UDQNKHLWVV\PSWRPHHLQHHQWIHUQWHbKQOLFKNHLW PLW GHQHQ PHLQHU 7RFKWHU KDEHQ 6LH VLQG ]ZDU OlQJVW QLFKW VR DXVJHSUlJW VFKHLQHQDEHUDXIGLHJOHLFKH8UVDFKH]XUFN]XJHKHQ(VKDQGHOWVLFKXPHLQH MXQJH'DPHGLHEHLXQV]X*DVWLVW'D6LHPLUVDJWHQGD,KU:HJ6LH KHXWHDEHQGZLHGHUKLHUYRUEHLIKUHQZLUGZlUHHVGDVEHVWHZHQQ6LHEHLXQV

VSHLVWHQXQGVLHEHLGLHVHU*HOHJHQKHLWWUHIIHQN|QQWHQ6LHNRPPWLPPHUHUVW DP1DFKPLWWDJKHUXQWHU 9LHOHQ 'DQN IU GLH (LQODGXQJ VDJWH GHU $U]W ,FK ZHUGH DOVR JHJHQ VLHEHQ8KUKLHUVHLQ 1RFKHLQPDOOHJWHQGLHEHLGHQ0DGDPH XQGPLU DQV +HU]GLH $QZHLVXQJHQ JHQDX]XEHIROJHQXQGGDQQEHJOHLWHWH3DSDGHQ$U]WKLQDXV,FKEHREDFKWHWH ZLHHUPLWLKPDXIGHPJUDVEHZDFKVHQHQ3ODWHDXYRUGHP6FKOR]ZLVFKHQ :HJ XQG %XUJJUDEHQ DXI XQG DE JLQJ RIIHQEDU LQ HLQ HUQVWHV *HVSUlFK YHUWLHIW 'HU $U]W NDP QLFKW ]X XQV ]XUFN )DVW ]XU JOHLFKHQ =HLW DOV LFK LKQ GRUW XQWHQ DXIV 3IHUG VWHLJHQ VLFK YHUDEVFKLHGHQ XQG RVWZlUWV GXUFK GHQ :DOG GDYRQUHLWHQ VDK WUDW GHU 0DQQ HLQ GHU XQV UHJHOPlLJ GLH 3RVW DXV 'UDQVIHOG EUDFKWH ,FK VDK LKQ DEVLW]HQ XQG PHLQHP 9DWHU GLH 3RVWWDVFKH EHUJHEHQ 0DGDPHXQGLFKVWHOOWHQLQ]ZLVFKHQHLIULJ9HUPXWXQJHQEHUGLH*UQGHDQ GLHGHQ$U]WXQG3DSD]XMHQHUVWULNWHQ$QZHLVXQJEHZRJHQKDEHQN|QQWHQ :LHVLHPLUVSlWHUHU]lKOWHEHIUFKWHWH0DGDPHGHU$U]WUHFKQHPLWHLQHP SO|W]OLFKHQ $QIDOO GHU PLFK IDOOV QLFKW VRIRUW +LOIH ]XU +DQG ZlUH GDV /HEHQNRVWHQRGHUPLU]XPLQGHVWHUQVWKDIWVFKDGHQN|QQWH 0LUNDPGLHVHU*HGDQNHQLFKW,FKJODXEWH XQG GDV ZDU VLFKHUEHVVHU IU PHLQH1HUYHQGLH9RUVLFKWVPDQDKPH]LHOHOHGLJOLFKGDUDXIDEGDVWlQGLJ MHPDQG EHL PLU ZDU GHU DXISDWH GD LFK PLFK QLFKW EHUDQVWUHQJWH NHLQ XQUHLIHV2EVWDXQGNHLQHGHUYLHOHQ7RUKHLWHQEHJLQJGLHPDQYRQMXQJHQ /HXWHQ]XHUZDUWHQVFKHLQW (WZD HLQH KDOEH 6WXQGH VSlWHU WUDW PHLQ 9DWHU LQV =LPPHU (U KLHOW HLQHQ %ULHILQGHU+DQG'LHVHV6FKUHLEHQLVWYHUVSlWHWDQJHNRPPHQ(VLVWYRQ *HQHUDO 6SLHOVGRUI (U KlWWH EHUHLWV JHVWHUQ KLHUVHLQ N|QQHQ HV NDQQ DEHU DXFKVHLQGDHUKHXWHRGHUPRUJHQHLQWULIIW (UJDEPLUGHQ%ULHI0LUILHODXIGD3DSDGHUJHUQ%HVXFKHPSILQJXQG EHVRQGHUVJHUQGHQ*HQHUDOGLHVPDOQLFKWVHKUHUIUHXWVFKLHQ,P*HJHQWHLO HU VDK DXV DOV ZQVFKWH HU LKQ GRUWKLQ ZR GHU 3IHIIHU ZlFKVW 2IIHQEDU EHZHJWHLKQHWZDVZRUEHUHUQLFKWVSUHFKHQZROOWH 3DSD ZLOOVW GX PLU HLQH )UDJH EHDQWZRUWHQ" ,FK IDWH LPSXOVLY QDFK VHLQHP$UPXQGVDKLKQIOHKHQGDQ

9LHOOHLFKWDQWZRUWHWHHUXQGVWULFKPLU]lUWOLFKEHUV+DDU +DWGHU'RNWRUJHVDJWGDLFKVHKUNUDQNELQ" 1HLQ /LHEHV (U JODXEW GD GX IDOOV GLH ULFKWLJHQ 0DQDKPHQ JHWURIIHQ ZHUGHQLQHLQELV]ZHL7DJHQZLHGHUJDQ]JHVXQGRGHUGRFKDXIGHP:HJ]XU Y|OOLJHQ *HQHVXQJ VHLQ ZLUVW VDJWH HU HWZDV ]XUFNKDOWHQG ,FK ZROOWH XQVHU)UHXQGGHU*HQHUDOKlWWHVLFKQLFKWJHUDGHMHW]WDQJHPHOGHW(VZlUH PLUMHGHQIDOOVOLHEHUZHQQGXEHLVHLQHP%HVXFKZLHGHUJDQ]JHVXQGZlUVW %LWWH3DSDGUlQJWHLFKZDVKDWGHU$U]WJHVDJW":DVIHKOWPLU" 1LFKWV4XlOHPLFKGRFKQLFKWPLWVROFKHQ)UDJHQ(UZDUlUJHUOLFKHUDOV LFK LKQ MH JHVHKHQ KDWWH 'DQQ VFKLHQ HU ]X EHPHUNHQ GD LFK PLFK YHUOHW]W IKOWHNWHPLFKXQGVDJWH,QHLQSDDU7DJHQVROOVWGXDOOHVHUIDKUHQGDV KHLWDOOHVZDVLFKVHOEVWZHL%LVGDKLQGDUIVWGXGLUDEHUNHLQHVIDOOVGHQ .RSIGDUEHU]HUEUHFKHQ 'DQQ JLQJ HU KLQDXV $EHU QRFK EHYRU LFK GDUEHU QDFKGHQNHQ NRQQWH ZLH VHOWVDP GDV DOOHV ZDU NDP HU ]XUFN XP PLU PLW]XWHLOHQ GD HU HWZDV LQ .DUQVWHLQ]XHUOHGLJHQKDEHGDGLH.XWVFKHXP]Z|OI8KUEHUHLWVWlQGHXQG 0DGDPHXQGLFKLKQEHJOHLWHQVROOWHQ(UKDEHHLQLJHVPLWGHP*HLVWOLFKHQ]X EHVSUHFKHQGHULQGHU1lKHGHVPDOHULVFKHQ2UWHVZRKQWH8QGGD&DUPLOOD QRFKQLHGRUW JHZHVHQ VHLVROOH VLHXQVVSlWHU ]XVDPPHQPLW 0DGHPRLVHOOH IROJHQ GLH DOOHV 1RWZHQGLJH IU HLQ 3LFNQLFN LQ GHU 6FKORUXLQH HLQSDFNHQ ZHUGH ,FKZDUSQNWOLFKIHUWLJXQGNXU]QDFK]Z|OI8KUEUDFKHQ3DSD0DGDPHXQG LFKDXI+LQWHUGHU=XJEUFNHERJHQZLUQDFKUHFKWVLQGHQ:HJHLQGHUEHU GLHJRWLVFKH%UFNHZHVWZlUWV]XGHPYHUODVVHQHQ'RUIXQGGHPYHUIDOOHQHQ 6FKORIKUW 'LH )DKUW GXUFK GHQ :DOG ZDU XQYHUJOHLFKOLFK VFK|Q hEHU VDQIWH +JHO XQG 7DOVHQNHQ EUHLWHWH VLFK GHU JUQH 7HSSLFK GHU :lOGHU GHUHQ 8QEHUKUWKHLW QRFK QLFKW GHU IRUVWZLUWVFKDIWOLFKHQ .XOWLYLHUXQJ ]XP 2SIHU JHIDOOHQZDU,QGLHVHPXQHUVFKORVVHQHQ*HOlQGHZLQGHWVLFKGHU:HJKlXILJ DP5DQGH]HUNOIWHWHU7lOHUXQGDP)XVWHLOHU$QK|KHQHQWODQJLQPLWWHQ HLQHUXQHUVFK|SIOLFKDEZHFKVOXQJVUHLFKHQ/DQGVFKDIW $QHLQHU%LHJXQJVDKHQZLUSO|W]OLFKXQVHUHQDOWHQ)UHXQGGHQ*HQHUDODXI XQV ]XUHLWHQ (U ZXUGH YRQ HLQHP EHULWWHQHQ 'LHQHU EHJOHLWHW VHLQ *HSlFN IROJWHSHU0LHWZDJHQRGHUZLHZLUKLHUVDJHQSHU)XKUZHUN

(U VD DE ZLU KLHOWHQ DQ XQG QDFK GHU %HJUXQJ HUNOlUWH HU VLFK JHUQ EHUHLWEHLXQVHLQ]XVWHLJHQ6HLQ3IHUGEHUJDEHUGHP%HGLHQVWHWHQGHU]X XQVHUHP6FKORHZHLWHUULWW

;(LQVFKZHUHU9HUOXVW (V ZDU QXU HWZD ]HKQ 0RQDWH KHU GD ZLU GHQ *HQHUDO ]XOHW]W JHVHKHQ KDWWHQDEHULQ]ZLVFKHQZDUHUXP-DKUHJHDOWHUW(UZDUVFKPDOHUJHZRUGHQ 'LHKHLWHUH*HODVVHQKHLWGLHHUVWHWVDXVJHVWUDKOWKDWWHZDUHLQHUVHOWVDPHQ 'VWHUNHLWXQG5XKHORVLJNHLWJHZLFKHQ6HLQ%OLFNZDULPPHUGXUFKGULQJHQG JHZHVHQMHW]WDEHUKDWWHQGLHGXQNHOEODXHQ$XJHQXQWHUGHQEXVFKLJHQ%UDXHQ HLQHQKDUWHQ*ODQ]'LH7UDXHUDOOHLQNRQQWHGLHVH9HUZDQGOXQJQLFKWEHZLUNW KDEHQKLHUVFKLHQHQKHIWLJHUH(PSILQGXQJHQLP6SLHO]XVHLQ :LUVHW]WHQGLH)DKUWIRUWXQGNXU]GDUDXIEHJDQQGHU*HQHUDOPLWGHULKP HLJHQHQ VROGDWLVFKHQ 8QXPZXQGHQKHLW YRQ GHP VFKUHFNOLFKHQ 9HUOXVW ]X VSUHFKHQ GHQ HU GXUFK GHQ 7RG VHLQHV JHOLHEWHQ 0QGHOV VHLQHU 1LFKWH %HUWKD HUOLWWHQ KDWWH 9RP ELWWHUHQ =RUQ HUJULIIHQ YHUZQVFKWH HU GLH

+|OOHQNQVWH GHQHQ VLH ]XP 2SIHU JHIDOOHQ ZDU XQG PLW YLHO (QWUVWXQJ XQG ZHQLJ (KUIXUFKW lXHUWH HU VHLQ (UVWDXQHQ GDUEHU GD GHU +LPPHO HLQHQVRXQJHKHXHUOLFKHQ$XVEUXFKK|OOLVFKHU%HJLHUGHXQG%RVKHLWGXOGH 0HLQ9DWHUGHUVRIRUWVSUWHGDHWZDVJDQ]$XHUJHZ|KQOLFKHVJHVFKHKHQ VHLQPXWHEDWLKQHUP|JHIDOOVHVLKQQLFKW]XVHKUVFKPHU]HEHULFKWHQ ZDVLKQ]XGHUDUWKHIWLJHQ:RUWHQYHUDQODWKDEH ,FK ZUGH HV ,KQHQ JHUQH HU]lKOHQ VDJWH GHU *HQHUDO DEHU 6LH ZUGHQ PLUQLFKWJODXEHQ 8QGZDUXPQLFKW" :HLO6LHHUZLGHUWHHUJHUHL]WDQQLFKWVJODXEHQGDVLFKQLFKWPLW,KUHQ SHUV|QOLFKHQ9RUVWHOOXQJHQXQG9RUXUWHLOHQYHUHLQEDUHQOlW,FKZDUIUKHU JHQDXVRDEHULQ]ZLVFKHQKDEHLFKHLQLJHVGD]XJHOHUQW 6WHOOHQ6LHPLFKGRFKDXIGLH3UREH,FKELQQLFKWVRGRJPDWLVFKZLH6LH DQQHKPHQ 8QG DXHUGHP ZHL LFK VHKU ZRKO GD 6LH %HZHLVH YHUODQJHQ EHYRU6LHDQHWZDVJODXEHQ(VLVWGDKHUVHKUZDKUVFKHLQOLFKGDLFKPLFK

,KUHQ(UNHQQWQLVVHQQLFKWYHUVFKOLHHQZHUGH (VLVWPLUWDWVlFKOLFKQLFKWOHLFKWJHIDOOHQDQGDV8QJODXEOLFKH]XJODXEHQ GHQQ ZDV LFK HUOHEW KDEH LVW XQJODXEOLFK XQG HV WULIIW ]X GD QXU EHUZlOWLJHQGH%HZHLVHPLFKGD]XEULQJHQNRQQWHQHWZDV]XDN]HSWLHUHQGDV PHLQHQhEHU]HXJXQJHQJlQ]OLFK]XZLGHUOlXIW,FKELQLQHLQH9HUVFKZ|UXQJ EHUQDWUOLFKHU.UlIWHYHUVWULFNWZRUGHQ 2EZRKOPHLQ9DWHUGHP*HQHUDOYHUVLFKHUWKDWWHHUVHW]HYROOHV9HUWUDXHQLQ VHLQH8UWHLOVNUDIWZDUIHULKPMHW]WHLQHQ%OLFN]XDOV]ZHLIOHHUDQVHLQHP 9HUVWDQG 'HU*HQHUDOEHPHUNWHHV]XP*OFNQLFKW'VWHUXQGJHVSDQQWEOLFNWHHUGHQ /LFKWXQJHQXQG:DOGVFKQHLVHQHQWJHJHQGLHVLFKYRUXQVDXIWDWHQ 6LHIDKUHQDOVR]XU5XLQHGHV6FKORVVHV.DUQVWHLQ"IUDJWHHUGDQQ'DV LVW ZLUNOLFK HLQ JOFNOLFKHU =XIDOO ,FK ZROOWH 6LH RKQHKLQ ELWWHQ PLFK KLQ]XIDKUHQ,FKP|FKWHPLUGRUWHWZDVJDQ]%HVWLPPWHVDQVHKHQ6WHKWGRUW QLFKW HLQH YHUIDOOHQH .DSHOOH PLW GHQ *UDEVWlWWHQ YLHOHU 0LWJOLHGHU MHQHU DXVJHVWRUEHQHQ)DPLOLH" -D XQG VLH VLQG VHKU VHKHQVZHUW HUZLGHUWH PHLQ 9DWHU 'DUI LFK DQQHKPHQGD6LH$QVSUXFKDXI%HVLW]XQG7LWHOHUKHEHQZROOHQ" $XI GLHVH KHLWHUH )UDJH UHDJLHUWH GHU *HQHUDO QLFKW VR ZLH PDQ HV K|IOLFKHUZHLVHWXWZHQQHLQ)UHXQGVLFKHLQHQ6FKHU]HUODXEW(UODFKWHQLFKW OlFKHOWH QLFKW HLQPDO VRQGHUQ VDK HUQVW MD JULPPLJ YRU VLFK KLQ XQG GDFKWH RIIHQEDUEHUHWZDVQDFKGDVLKQLQ=RUQXQG6FKUHFNHQYHUVHW]WH ,FKZLOOHWZDVJDQ]DQGHUHVVDJWHHUVFKURII,FKZLOOHLQSDDUYRQGLHVHQ IHLQHQ +HUUVFKDIWHQ DQV 7DJHVOLFKW EHI|UGHUQ 0LW *RWWHV +LOIH P|FKWH LFK HLQ IURPPHV 6DNULOHJ EHJHKHQ GDV GLH :HOW YRQ JHZLVVHQ 8QJHKHXHUQ EHIUHLHQ XQG GDIU VRUJHQ VROO GD DQVWlQGLJH 0HQVFKHQ ZLHGHU UXKLJ VFKODIHQN|QQHQXQGQLFKWYRQ0|UGHUQEHUIDOOHQZHUGHQ/LHEHU)UHXQGLFK KDEH,KQHQPHUNZUGLJH'LQJH]XEHULFKWHQ'LQJHGLHLFKQRFKYRUZHQLJHQ 0RQDWHQYHUlFKWOLFKDEJHWDQKlWWH :LHGHUZDUIPHLQ9DWHULKPHLQHQ%OLFN]XGLHVPDOMHGRFKZDUHQGDULQQLFKW =ZHLIHOVRQGHUQJHVSDQQWH$XIPHUNVDPNHLWXQG%HVWU]XQJ]XOHVHQ 'DV *HVFKOHFKW GHU .DUQVWHLQ VDJWH HU LVW VHLW ODQJHP DXVJHVWRUEHQ PLQGHVWHQV VHLW KXQGHUW -DKUHQ 0HLQH )UDX VWDPPWH PWWHUOLFKHUVHLWV YRQ GHQ.DUQVWHLQVDE1DPHXQG7LWHOH[LVWLHUHQOlQJVWQLFKWPHKU'DV6FKOR

LVW YHUIDOOHQ GDV 'RUI YHUODVVHQ 6HLW IQI]LJ -DKUHQ KDWGRUW NHLQ .DPLQ PHKUJHUDXFKWXQGKHXWHILQGHQ6LHGRUWNHLQHLQ]LJHV'DFKPHKU *DQ]UHFKW,FKKDEHYLHOGDUEHUJHK|UWVHLWZLUXQV]XOHW]WJHVHKHQKDEHQ XQGYLHOHVGDYRQZLUG6LHLQ(UVWDXQHQVHW]HQ$EHULFKZLOOGHU5HLKHQDFK HU]lKOHQ6LHNDQQWHQPHLQ0QGHOPHLQH7RFKWHUZLHLFKVLHZRKOQHQQHQ GDUI 0DQ NDQQ VLFK ZRKO NDXP HLQ VFK|QHUHV *HVFK|SI YRUVWHOOHQ ZRKO NDXPHLQEOKHQGHUHV0lGFKHQDOVVLHHVQRFKYRUGUHL0RQDWHQZDU 'LHbUPVWH,FKHULQQHUHPLFKZLHUHL]HQGVLHDXVVDKDOVLFKLKU]XPOHW]WHQ 0DOH EHJHJQHWH 'LH 7UDXHUQDFKULFKW KDW PLFK WLHIHU HUVFKWWHUW DOV LFK ,KQHQOLHEHU)UHXQGVDJHQNDQQ,FKZHLZDVGLHVHU6FKLFNVDOVVFKODJIU 6LHEHGHXWHW (U GUFNWH GHP *HQHUDO GLH +DQG 'HP DOWHQ 6ROGDWHQ NDPHQ GLH 7UlQHQ XQGHUYHUVXFKWHQLFKWVLH]XYHUEHUJHQ :LUVLQGDOWH)UHXQGHVDJWH HU ,FK ZXWHGD 6LH YHUVWHKHQ ZUGHQ ZLH VFKZHU PLFK GHU 9HUOXVW PHLQHU 7RFKWHU WULIIW 6LH ZDU PLU DQV +HU] JHZDFKVHQ XQG YHUJDOW PHLQH )UVRUJH PLW HLQHU WLHIHQ =XQHLJXQJ GLH PLFK IURKXQGJOFNOLFKPDFKWH8QGMHW]WLVWDOOHVYRUEHL9LHOOHLFKWKDEHLFKDXFK QLFKWPHKUODQJH]XOHEHQDEHULFKKRIIH]X*RWWGD HV PLU QRFK YHUJ|QQW VHLQZLUGGHU0HQVFKKHLWHLQHQ'LHQVW]XHUZHLVHQXQGGLH8QKROGHGLHPHLQ DUPHV.LQGLP)UKOLQJGHV/HEHQVJHPRUGHWKDEHQGHU5DFKHGHV+LPPHOV ]XEHUDQWZRUWHQ 6LHYHUVSUDFKHQDOOHVGHU5HLKHQDFK]XHU]lKOHQ%LWWHKDOWHQ6LH:RUW 8QGJODXEHQ6LHPLULFKELWWH6LHQLFKWQXUDXV1HXJLHUGDUXP :LUKDWWHQMHW]WGLH6WHOOHHUUHLFKWDQGHUGHU:HJQDFK'UXQVWDOOYRQZR GHU*HQHUDOJHNRPPHQZDUYRQGHPQDFK.DUQVWHLQDE]ZHLJW :LH ZHLW LVW HV QRFK ELV ]XU 5XLQH" IUDJWH GHU *HQHUDO RIIHQEDU YRQ 8QUXKHHUJULIIHQ(WZDHLQHLQKDOE0HLOHQ$OVRELWWHHU]lKOHQ6LH

;,'HU%HULFKW 9RQ +HU]HQ JHUQ VDJWH GHU *HQHUDO DEHU PDQ VDK LKP DQ GD HV LKQ hEHUZLQGXQJ NRVWHWH 1DFK NXU]HP 1DFKGHQNHQ EHJDQQ HU PLW VHLQHU

*HVFKLFKWHHLQHUGHUPHUNZUGLJVWHQGLHLFKMHJHK|UWKDEH 0HLQ.LQGIUHXWHVLFKVHKUDXIGHQ%HVXFKEHL,KQHQXQGEHVRQGHUVDXIGLH %HJHJQXQJPLW,KUHUUHL]HQGHQ7RFKWHU(UYHUEHXJWHVLFKJDODQWDEHUPLW PHODQFKROLVFKHP %OLFN ,Q]ZLVFKHQ KDWWH HLQ DOWHU )UHXQG YRQ PLU *UDI &DUOVIHOGGHVVHQ6FKORNQDSS]ZDQ]LJ0HLOHQYRQ.DUQVWHLQHQWIHUQWOLHJW XQV]XGHQ)HVWOLFKNHLWHQHLQJHODGHQGLHHU]X(KUHQVHLQHVLOOXVWUHQ*DVWHV GHV*URKHU]RJV.DUOYHUDQVWDOWHWH6LHKDEHQVLFKHUGDYRQJHK|UW -D6LHVROOHQVHKUJODQ]YROOJHZHVHQVHLQ )UVWOLFK $EHU GDV VLQG &DUOVIHOGV *HVHOOVFKDIWHQ LPPHU (U VFKHLQW $ODGLQV:XQGHUODPSH]XEHVLW]HQ$QGHP$EHQGDQGHPPHLQJDQ]HV(OHQG EHJDQQIDQGHLQSUlFKWLJHU0DVNHQEDOOVWDWW'LH*DUWHQDQODJHQVWDQGHQGHQ *lVWHQ RIIHQ DQ GHQ %lXPHQ KLQJHQ EXQWH /DWHUQHQ 0DQ EUDQQWH HLQ )HXHUZHUNDEZLHPDQHVVHOEVWLQ3DULVQLFKWVFK|QHUHUOHEHQNDQQ8QGGLH 0XVLNLFKKDEHLPPHUHLQH6FKZlFKHIU0XVLNJHKDEWGLHVHKLQUHLHQGH 0XVLN 'DV YLHOOHLFKW EHVWH 2UFKHVWHU GHU :HOW XQG GLH EHUKPWHVWHQ 6lQJHU DXV GHQ JURHQ 2SHUQKlXVHUQ (XURSDV :lKUHQG PDQ LQ GHQ SKDQWDVWLVFK LOOXPLQLHUWHQ $QODJHQ SURPHQLHUWH YRU VLFK GDV LP 0RQGOLFKW VFKLPPHUQGH6FKORDXVGHVVHQODQJHQ)HQVWHUUHLKHQZDUPHU.HU]HQVFKHLQ GUDQJK|UWHPDQSO|W]OLFKGLHVHEHUFNHQGHQ6WLPPHQXQWHUHLQHUGHUVWLOOHQ %DXPJUXSSHQRGHULQGHQ%RRWHQDXIGHP6HHDXINOLQJHQ,FKIKOWHPLFKLQ PHLQH.LQGKHLWPLWDOOLKUHU3RHVLHXQG5RPDQWLN]XUFNYHUVHW]W 1DFK GHP )HXHUZHUN NHKUWHQ ZLU LQ GLH SUlFKWLJHQ 6lOH ]XUFN XQG QXQ EHJDQQ GHU %DOO 6LH ZLVVHQ MD HLQ 0DVNHQEDOO LVW LPPHU HLQ KHUUOLFKHU $QEOLFNGLHVHUDEHUZDUHLQ6FKDXVSLHOZLHLFKHVJODQ]YROOHUQLHHUOHEWKDEH 'LH 7UlJHU NOLQJHQGHU 1DPHQ KDWWHQ VLFK KLHU YHUVDPPHOW ,FK ZDU VR XQJHIlKUGHUHLQ]LJH 1LHPDQG LQGLHVHP.UHLV 0HLQH 7RFKWHU VDK ZXQGHUVFK|Q DXV 6LH WUXJ NHLQH 0DVNH 'LH IUHXGLJH (UUHJXQJYHUOLHKLKUHQ=JHQHLQHQXQEHVFKUHLEOLFKHQ5HL]0LUILHODXIGD HLQH MXQJH 'DPH GLH SUlFKWLJ JHNOHLGHW ZDU XQG HLQH 0DVNH WUXJ PHLQ 0QGHO K|FKVW LQWHUHVVLHUW ]X EHREDFKWHQ VFKLHQ ,FK KDWWH VFKRQ IUKHU DP $EHQG LQ GHU +DOOH EHPHUNW XQG GDQDFK DXI GHU 7HUUDVVH ZR VLH HLQ SDDU 0LQXWHQ ODQJ LQ XQVHUHU 1lKH DXI XQG DE JHJDQJHQ ZDU XQG ]X XQV KHUEHUJHVHKHQKDWWH6LHZXUGHYRQHLQHU'DPHEHJOHLWHWGLHHLQNRVWEDUHV GXQNOHV *HZDQG XQG HEHQIDOOV HLQH 0DVNH WUXJ XQG GHUHQ YRUQHKPH

(UVFKHLQXQJDXIHLQH3HUV|QOLFKNHLWYRQ5DQJXQG1DPHQVFKOLHHQOLH'D GLH 0DVNH GDV *HVLFKWGHU MXQJHQ 'DPH YHUEDUJ NRQQWH LFK QDWUOLFK QLFKW JHQDX IHVWVWHOOHQ RE GLHVH WDWVlFKOLFK PHLQHQ DUPHQ /LHEOLQJ EHREDFKWHWH +HXWHELQLFKGHVVHQVLFKHU :LUEHIDQGHQXQVMHW]WLQHLQHPGHU6DORQV0HLQH7RFKWHUUXKWHVLFKJHUDGH DXIHLQHPQDKHGHU7UVWHKHQGHQ6WXKOHLQZHQLJYRP7DQ]HQDXV,FKVWDQG QHEHQLKU-HQHEHLGHQ'DPHQKDWWHQVLFKXQVJHQlKHUWGLHMQJHUHVHW]WHVLFK QHEHQPHLQ0QGHOLKUH%HJOHLWHULQEOLHEDQPHLQHU6HLWHVWHKHQXQGVSUDFK HLQHQ$XJHQEOLFNODQJPLWOHLVHU6WLPPHDXILKUHQ6FKW]OLQJHLQ 'DQQ QXW]WH VLH GLH 0DVNHQIUHLKHLW DXV VSUDFK PLFK DQ QDQQWH PLFK EHLP 1DPHQ XQG EHJDQQ DOV VHLHQ ZLU DOWH %HNDQQWH HLQ *HVSUlFK GDV PHLQH 1HXJLHUHUUHJWH6LHEH]RJVLFKDXI]DKOUHLFKHIUKHUH%HJHJQXQJHQPLWPLU EHL+RIHXQGLQGHQ+lXVHUQYRUQHKPHU)DPLOLHQ6LHHUZlKQWHEHODQJORVH 9RUIlOOHGLHLFKOlQJVWYHUJHVVHQKDWWHGHUHQLFKPLFKDEHUVREDOGVLHGDUDXI ]XVSUHFKHQNDPZLHGHUOHEKDIWHULQQHUWH ,FKZXUGHLPPHUQHXJLHULJHU]XHUIDKUHQZHQLFKYRUPLUKDWWH'RFKVLHZLFK PHLQHQ YHUVWHFNWHQ )UDJHQ JHVFKLFNW XQG IUHXQGOLFK DXV (V ZDU PLU Y|OOLJ XQHUNOlUOLFK ZLH VLH EHU VR YLHOH (LQ]HOKHLWHQ DXV PHLQHP /HEHQ %HVFKHLG ZLVVHQ NRQQWH 6LH VFKLHQ HV JDQ] XQYHUKRKOHQ ]X JHQLHHQ PHLQH 1HXJLHU DQ]XVWDFKHOQXQG]XEHREDFKWHQZLHLFKLQLPPHUWLHIHUH9HUZLUUXQJJHULHW 'LH MXQJH 'DPH GLH YRQ LKUHU 0XWWHU HLQ SDDUPDO PLW GHP HLJHQDUWLJHQ 1DPHQ 0LOODUFD DQJHUHGHW ZRUGHQ ZDU KDWWH LQ]ZLVFKHQ DXI lKQOLFK XQJH]ZXQJHQH XQG FKDUPDQWH :HLVH HLQ *HVSUlFK PLW PHLQHP 0QGHO DQJHNQSIW 6LHKDWWHHVPLWGHU%HPHUNXQJHLQJHOHLWHWLKUH0XWWHUVHLHLQHDOWH%HNDQQWH YRQ PLU 'DV 7UDJHQ HLQHU 0DVNH VDJWH VLH YHUVFKDIIH HLQHP GLH ZLOONRPPHQH *HOHJHQKHLW NKQHU DOV VRQVW ]X VHLQ 6LH XQWHUKLHOW VLFK PLW %HUWKD ZLH PLW HLQHU DOWHQ )UHXQGLQ EHZXQGHUWH LKU .OHLG XQG JDE DXI FKDUPDQWH$UW]XHUNHQQHQGDVLHYRQLKUHU6FK|QKHLWEHHLQGUXFNWZDU6LH HUKHLWHUWHVLHPLWLURQLVFKHQ%HPHUNXQJHQEHUGLH*lVWHGLHVLFKLP%DOOVDDO GUlQJWHQ XQG YHUPHUNWH ODFKHQG ZLH PHLQ DUPHV .LQG VLFK EHU LKUHQ .RPPHQWDUDPVLHUWH6LHNRQQWHMHQDFK/DXQHVHKUJHLVWUHLFKXQGOHEKDIW VHLQ1DFKNXU]HU=HLWKDWWHQVLFKGLHEHLGHQDQJHIUHXQGHW1XQQDKPGLHMXQJH 'DPH GLH 0DVNH DE XQG ZLU HUEOLFNWHQ HLQ *HVLFKW YRQ JURHU 6FK|QKHLW

,FK KDWWH HV QRFK QLH JHVHKHQ XQG DXFK PHLQHP .LQG ZDU HV IUHPG 'LHVHV *HVLFKWZDUQLFKWQXUVFK|QHVKDWWHDXFK HWZDVVR *HZLQQHQGHV GD PDQ VLFK VRIRUW XQZLGHUVWHKOLFK DQJH]RJHQ IKOWH 0HLQHU 7RFKWHU MHGHQIDOOV HUJLQJHVVR1LH]XYRUKDWWHLFKHUOHEWGDHLQ0HQVFKHLQHPDQGHUHQDXIGHQ HUVWHQ%OLFNVR]XJHWDQZDU$XIGLH)UHPGHWUDIGDVDOOHUGLQJVDXFK]XVLH VFKLHQLKU+HU]DQPHLQ0QGHOYHUORUHQ]XKDEHQ $XFKLFKPDFKWHPLUMHW]WGLHEHLHLQHP0DVNHQIHVWHUODXEWH)UHL]JLJNHLW]X HLJHQXQGEHGUlQJWHGLHlOWHUH'DPHPLW)UDJHQ

6LHKDEHQPLFKDXIVK|FKVWHYHUEOIIW VDJWHLFKOlFKHOQG *HQJW,KQHQGDV QRFKQLFKW":ROOHQ6LHPLUMHW]WQLFKWDXFKHLQH&KDQFHJHEHQXQGGLH0DVNH DEQHKPHQ"

+DWPDQMHYRQHLQHPXQEHVFKHLGHQHUHQ$QVLQQHQJHK|UW":LHNDQQPDQYRQ HLQHU'DPHYHUODQJHQ HLQHQ 9RUWHLO DXI]XJHEHQ" 8QG EHUKDXSW VLQG 6LH VLFKHU GD 6LH PLFK ZLHGHUHUNHQQHQ ZUGHQ" 6FKOLHOLFK JHKHQ GLH -DKUH QLFKWVSXUORVDQXQVYRUEHU

:LH 6LH DQ PLU VHKHQ VDJWH LFK PLW HLQHU 9HUEHXJXQJ XQG PLW OHLVHP YHUPXWOLFKUHFKWPHODQFKROLVFKNOLQJHQGHP/DFKHQ

:LHXQVGLH3KLORVRSKHQOHKUHQ HUZLGHUWHVLH 8QGZLHZROOHQ6LHZLVVHQ GDGHU$QEOLFNPHLQHV*HVLFKWV,KQHQZHLWHUKHOIHQZUGH"

,FK ODVVH HV JHUQ GDUDXI DQNRPPHQ 6LH YHUVXFKHQ XPVRQVW VLFK DOV DOWH )UDXDXV]XJHEHQ,KUH)LJXUVSULFKWGDJHJHQ

7URW]GHPHVLVW-DKUHKHUVHLWLFK6LH]XOHW]WJHVHKHQKDEHRGHUYLHOPHKU VHLW6LHPLFK]XOHW]WJHVHKHQKDEHQGHQQGDUDXINRPPWHVPLUDQ0LOODUFD GDV MXQJH 0lGFKHQ GRUW LVW PHLQH 7RFKWHU ,FK NDQQ DOVR QLFKW PHKU MXQJ VHLQQLFKWHLQPDOLQGHQ$XJHQGHUHUGLHJHOHUQWKDEHQQDFKVLFKWLJ]XVHLQ XQGYLHOOHLFKWP|FKWHLFKQLFKWGD6LHPLFKPLWGHUYHUJOHLFKHQDQGLH6LH VLFK HULQQHUQ 'D 6LH VHOEVW NHLQH 0DVNH WUDJHQ N|QQWHQ 6LH VLFK QLFKW HLQPDOEHLPLUUHYDQFKLHUHQ

0HLQH%LWWHXP'HPDVNLHUXQJULFKWHWVLFKDXVVFKOLHOLFKDQ,KU0LWOHLG

8QGPHLQH%LWWHGDUDXI]XYHU]LFKWHQDQGDV,KUH

1XQ JXW DEHU 6LH N|QQWHQ PLU ZHQLJVWHQV VDJHQ RE VLH )UDQ]|VLQ RGHU 'HXWVFKHVLQG6LHEHKHUUVFKHQEHLGH6SUDFKHQYROONRPPHQ

,FKJODXEH*HQHUDODXFKGDVZHUGHLFK,KQHQQLFKWEHDQWZRUWHQ6LHSODQHQ RIIHQEDUHLQHQhEHUUDVFKXQJVDQJULIIXQGEHUOHJHQVLFKMHW]WYRQZRDXV6LH

DPEHVWHQDWWDFNLHUHQN|QQHQ

(LQVZHUGHQ6LHMHGHQIDOOV]XJHEHQPVVHQ HQWJHJQHWHLFK :HQQ6LHPLU VFKRQ GLH (KUH HUZHLVHQ PLFK LQV *HVSUlFK ]X ]LHKHQ GDQQ VROOWHQ 6LH PLU ZHQLJVWHQV VDJHQ ZLH LFK 6LH DQ]XUHGHQ KDEH 6ROO LFK 6LH 0DGDPH OD &RPWHVVHQHQQHQ"

6LH ODFKWH XQG ZROOWH PLFK RKQH =ZHLIHO PLW LUJHQG HLQHU QHXHQ $XVIOXFKW DEVSHLVHQ$EHUZDULQGLHVHU8QWHUKDOWXQJGLHZLHLFKMHW]WZHLELVLQMHGH (LQ]HOKHLW PLW GHU JU|WHQ 5DIILQHVVH YRUDXVJHSODQW ZDU EHUKDXSW HWZDV YRP=XIDOODEKlQJLJ"

:DV GDV EHWULIIW EHJDQQ VLH GRFK LQ GLHVHP $XJHQEOLFN ZXUGH VLH YRQ HLQHP VFKZDU]JHNOHLGHWHQ +HUUQ XQWHUEURFKHQ GHU DXVQHKPHQG HOHJDQW XQG GLVWLQJXLHUWZLUNWHGHVVHQ*HVLFKWDEHUYRQHLQHU%OlVVHEHU]RJHQZDUZLH LFK VLH ELV GDKLQ QXU EHL 7RWHQ JHVHKHQ KDWWH (U WUXJ NHLQ 0DVNHQNRVWP VRQGHUQ GHQ EOLFKHQ $EHQGDQ]XJ GHV YRUQHKPHQ +HUUQ 2KQH GHQ OHLVHVWHQ $QIOXJGHV/lFKHOQVGRFKPLWHLQHUK|ILVFKHQDXIIDOOHQGWLHIHQ9HUQHLJXQJ VDJWHHU

:UGHQ0DGDPHOD&RPWHVVHPLUHLQSDDU:RUWHJHVWDWWHQGLHIUVLHYRQ ,QWHUHVVHVHLQN|QQWHQ"

5DVFK ZDQGWH VLFK GLH 'DPH LKP ]X XQG OHJWH GHQ )LQJHU DXI GLH /LSSHQ 'DQQVDJWHVLH]XPLU

+DOWHQ 6LH GLHVHQ 3ODW] IU PLFK IUHL *HQHUDO ,FK ZHUGH VRIRUW ]XUFNNRPPHQ

0LWGLHVHPOlFKHOQGHUWHLOWHQ%HIHKOYHUOLHVLHPLFKXPPLWGHP+HUUQLQ 6FKZDU]HLQZHQLJ]XU6HLWH]XWUHWHQXQGHLQRIIHQEDUVHKUHUQVWHV*HVSUlFK YRQ HLQLJHQ 0LQXWHQ ]X IKUHQ 'DQQ HQWIHUQWHQ VLFK EHLGH JHPHVVHQHQ 6FKULWWHVXQGLQGHU0HQJHYHUORULFKVLHIUNXU]H=HLWDXVGHQ$XJHQ ,Q]ZLVFKHQ ]HUPDUWHUWH LFK PLU GDV *HKLUQ QDFK GHP 1DPHQ GHU 'DPH GLH VLFKPHLQHUVRIUHXQGOLFK]XHULQQHUQVFKLHQ,FKEHUOHJWHRELFKPLFKLQGDV *HVSUlFK]ZLVFKHQLKUHU7RFKWHUXQGPHLQHP0QGHOHLQVFKDOWHQ VROOWHXP GLH*UlILQEHLLKUHU5FNNHKUGDPLWEHUUDVFKHQ]XN|QQHQGDLFKEHULKUHQ 1DPHQ7LWHOXQG:RKQVLW]EHVWHQVLQIRUPLHUWZDU'RFKVFKRQHUVFKLHQVLH ZLHGHUJHIROJWYRQGHP+HUUQLQ6FKZDU]

,FKZHUGH0DGDPHOD&RPWHVVHPHOGHQZHQQGLH.XWVFKHYRUJHIDKUHQLVW VDJWHHU

'DQQYHUQHLJWHHUVLFKXQGYHUVFKZDQG

;,,(LQ$QVXFKHQ

1XQPVVHQZLUDOVRGLH*HVHOOVFKDIWYRQ0DGDPHOD&RPWHVVHHQWEHKUHQ" +RIIHQWOLFKQXUIUNXU]H=HLW VDJWHLFKPLWHLQHUOHLFKWHQ9HUEHXJXQJ

9LHOOHLFKW ZLUNOLFK QLFKW IU OlQJHU YLHOOHLFKW DEHU DXFK IU HLQLJH :RFKHQ (VLVWVHKUEHGDXHUOLFKGDHUGLHVH1DFKULFKWJHUDGHMHW]WEHUEULQJHQPXWH :LVVHQ6LHQXQZHULFKELQ"

,FKYHUQHLQWH

6LHZHUGHQHVHUIDKUHQDEHUQLFKWVRIRUW:LUEHLGHNHQQHQXQVOlQJHUXQG EHVVHU DOV 6LH YLHOOHLFKW JODXEHQ ,P $XJHQEOLFN NDQQ LFK PLFK QLFKW ]X HUNHQQHQJHEHQDEHULQGUHL:RFKHQZLUGPLFKPHLQ:HJDQ,KUHPVFK|QHQ 6FKORYRUEHLIKUHQEHUGDVLFKPLFKJHQDXHUNXQGLJWKDEH,FKZHUGH6LH GDQQNXU]EHVXFKHQXPHLQH)UHXQGVFKDIWDXI]XIULVFKHQDQGLHLFKPLWWDXVHQG )UHXGHQ ]XUFNGHQNH 'LH 1DFKULFKW HEHQ NDP ZLH HLQ %OLW] DXV KHLWHUHP +LPPHO,FKPXVRIRUWDXIEUHFKHQXQGHLQHXQZHJVDPH6WUHFNHYRQQDKH]X KXQGHUW 0HLOHQ ]XUFNOHJHQ ,FK EHILQGH PLFK LQ HLQHU lXHUVW VFKZLHULJHQ /DJH 1XU GLH 9HUSIOLFKWXQJ EHU PHLQHQ 1DPHQ 6WLOOVFKZHLJHQ ]X EHZDKUHQ OlW PLFK ]|JHUQ HLQH XQJHZ|KQOLFKH %LWWH DQ 6LH ]X ULFKWHQ 0HLQHDUPH7RFKWHUKDWVLFKQRFKQLFKWY|OOLJHUKROW6LHLVWEHLHLQHU-DJG YRP 3IHUG JHVWU]W XQG KDW GHQ 6FKRFN QRFK QLFKW JDQ] EHUZXQGHQ $XV GLHVHP *UXQG KDEHQ ZLU XQV IU GLH 5HLVH KLHUKHU YLHO =HLW JHQRPPHQ XQG VLQGWlJOLFKNDXPPHKUDOVIQI]HKQ0HLOHQJHIDKUHQ8QGMHW]WPXLFK7DJ XQG1DFKWXQWHUZHJVVHLQLQ HLQHU $QJHOHJHQKHLWEHLGHU HVXP/HEHQ RGHU 7RG JHKW XQG EHU GHUHQ 7UDJZHLWH LFK 6LH HUVW DXINOlUHQ NDQQ ZHQQ ZLU XQVZLHLFKKRIIHLQHLQSDDU:RFKHQZLHGHUVHKHQ'HQQGDQQZLUGHVQLFKW PHKUQ|WLJVHLQVLHJHKHLP]XKDOWHQ

6LHIXKUIRUWPLULKUH%LWWH]XXQWHUEUHLWHQXQGVLHWDWHVVRDOVHUZLHVHVLH PLU HLQH *QDGH XQG QLFKW DOV ElWH VLH PLFK XP HLQHQ *HIDOOHQ $OOHUGLQJV ZDU HVQXULKU *HEDUHQGDVGLHVHQ (LQGUXFNHUZHFNWHXQGVLH VHOEVWVFKLHQ VLFKGHVVHQQLFKWEHZXW]XVHLQ'LH:RUWHLQGLHVLHLKU$QVXFKHQNOHLGHWH KlWWHQQLFKWIOHKHQWOLFKHUVHLQN|QQHQ 6LHZROOWHQLFKWPHKUXQGQLFKWZHQLJHUDOVPHLQ(LQYHUVWlQGQLVLKUH7RFKWHU ZlKUHQGLKUHU$EZHVHQKHLWEHLXQVDXI]XQHKPHQ 'DVZDUJHQDXEHVHKHQHLQH VHOWVDPHXPQLFKW]XVDJHQ NKQH %LWWH,FK IKOWH PLFK JOHLFKZRKO HQWZDIIQHW GD GLH *UlILQ VHOEVW DOOH P|JOLFKHQ *HJHQDUJXPHQWH YRUEUDFKWH XQG JDQ] DXI PHLQH 5LWWHUOLFKNHLW EDXWH 'DV 8QKHLOGDVEHUDOOHQZHLWHUHQ(UHLJQLVVHQZDOWHWHZROOWHHVGDLQGLHVHP $XJHQEOLFNPHLQHDUPH7RFKWHU]XPLUWUDWXQGPLFKOHLVHDQIOHKWHLKUHQHXH )UHXQGLQ]XXQVHLQ]XODGHQ6LHKDEHVLFKVRHEHQYHUJHZLVVHUWGD0LOODUFD XQVJHUQEHVXFKHQZUGHIDOOVLKUH0XWWHUHLQYHUVWDQGHQZlUH

;,,,'HU+RO]IlOOHU $EHU VFKRQ EDOG NDPHQ PLU %HGHQNHQ =XP HLQHQ NODJWH 0LOODUFD VWlQGLJ EHUJURH0GLJNHLWHLQH)ROJHLKUHUNU]OLFKHQ(UNUDQNXQJXQGYHUOLH LKU=LPPHUVWHWVHUVWLP/DXIHGHV1DFKPLWWDJV=XPDQGHUHQHQWGHFNWHQZLU ]XIlOOLJGDVLHPDQFKPDOREJOHLFKVLHLKUH7UHVWHWVYRQLQQHQYHUVFKOR XQGHUVWZLHGHU|IIQHWHZHQQGLH=RIHLKUEHLGHU7RLOHWWHKHOIHQVROOWHVHKU IUKDP0RUJHQXQGDXFKVSlWHUDP7DJQLFKWLQLKUHP=LPPHUZDU]XHLQHU =HLWDOVRGDZLUDQQHKPHQVROOWHQVLHVHLQRFKQLFKWDXIJHVWDQGHQ9RQGHQ 6FKORIHQVWHUQ DXV ZXUGH ZLHGHUKROW EHREDFKWHW ZLH VLH LP 0RUJHQJUDXHQ GHQ QDFK 2VWHQ IKUHQGHQ :DOGZHJ HLQVFKOXJ DQVFKHLQHQG LQ HLQHP WUDQFHlKQOLFKHQ =XVWDQG 'DV EUDFKWH PLFK DXI GHQ *HGDQNHQ GD VLH 6FKODIZDQGOHULQ ZDU 8QG GRFK ZDU GDPLW GDV 5lWVHO QLFKW JHO|VW :LH NRQQWHVLHLKU=LPPHUYHUODVVHQZHQQGLH7UYRQLQQHQYHUVFKORVVHQEOLHE" :LHDXVGHP+DXVJHODQJHQRKQH7RURGHU)HQVWHU]XHQWULHJHOQ" $EHU ZlKUHQG LFK PLFK QRFK PLW GLHVHQ )UDJHQ KHUXPVFKOXJ EHJDQQ HLQH DQGHUHYLHOHUQVWHUH$QJHOHJHQKHLWPLFK]XEHXQUXKLJHQ 0HLQHJHOLHEWH7RFKWHUYHUORULKUIULVFKHV$XVVHKHQXQGEHJDQQ]XNUlQNHOQ DXI HLQH VR UlWVHOKDIWH MD JUDXHQYROOH :HLVH GD PLFK HLQH WLHIH )XUFKW HUJULII =XHUVWKDWWHVLHHQWVHW]OLFKH7UlXPHGDQQJODXEWHVLHYRQHLQHUXQGHXWOLFKHQ (UVFKHLQXQJKHLPJHVXFKW]XZHUGHQGLHPDQFKPDO0LOODUFDPDQFKPDOHLQHP 7LHUJOLFKXQGVLFKDP)XHQGHGHV%HWWHVKLQXQGKHUEHZHJWH6FKOLHOLFK VWHOOWHQ VLFK EHVWLPPWH (PSILQGXQJHQ HLQ $QIDQJV KDWWH VLH GDV LKUHU %HVFKUHLEXQJQDFKQLFKWXQDQJHQHKPHDEHUHLJHQWPOLFKH*HIKODOVEUDQGH HLQHLVLJHU6WURPJHJHQLKUH%UXVW6SlWHUVSUWHVLHGLFKWXQWHUGHU.HKOH HLQHQVFKDUIHQ6FKPHU]VRDOVGUlQJHQLKU]ZHLODQJH1DGHOQLQGLH+DXW :HQLJH1lFKWHVSlWHUVHW]WHHLQVLFKDOOPlKOLFKYHUVWlUNHQGHVNUDPSIDUWLJHV :UJHJHIKOHLQGHP%HZXWORVLJNHLWIROJWH ,FK NRQQWH MHGHV :RUW GHV DOWHQ *HQHUDOV YHUVWHKHQ GHQQ ZLU IXKUHQ MHW]W EHUHLWV EHU GLH :LHVHQ GLH VLFK NXU] YRU GHP YHU|GHWHQ 'RUI LQ GHP VHLW IQI]LJ-DKUHQNHLQ.DPLQPHKUJHUDXFKWKDWWH]XEHLGHQ6HLWHQGHV:HJHV HUVWUHFNHQ

6LHN|QQHQVLFKGHQNHQZLHEHWURIIHQLFKZDULQGHQ.UDQNKHLWVV\PSWRPHQ GHVDUPHQ0lGFKHQVGDVZlUHHVQLFKW]XU.DWDVWURSKHJHNRPPHQMHW]W]X %HVXFK LQ XQVHUHP 6FKORH JHZHLOW KlWWH KDDUJHQDX PHLQH HLJHQHQ ]X HUNHQQHQ8QG6LHN|QQHQVLFKVLFKHUDXFKYRUVWHOOHQZDVLFKHPSIDQGDOV GHU *HQHUDO MHQH UlWVHOKDIWHQ $QJHZRKQKHLWHQ XQG (LJHQVFKDIWHQ VFKLOGHUWH GLHDXFKDXIXQVHUHQVFK|QHQ*DVW&DUPLOOD]XWUDIHQ 9RUXQVWDWVLFKHLQH:DOGOLFKWXQJDXIXQGPLWHLQHPPDOVDKHQZLUXQVYRQ GHQ *LHEHOQ XQG .DPLQHQ GHV YHUIDOOHQHQ 'RUIHV XPJHEHQ GLH EHUUDJW ZXUGHQ YRQ GHQ 7UPHQ XQG 0DXHUQ GHU 6FKORUXLQH ,QPLWWHQ ULHVLJHU %lXPHVWDQGVLHDXIHLQHUOHLFKWHQ$QK|KH :LHLQHLQHP$QJVWWUDXPEHIDQJHQVWLHJLFKDXVGHU.XWVFKH 6FKZHLJHQG GHQQMHGHUYRQXQVKDWWHPHKUDOVJHQXJPLWVHLQHQHLJHQHQ*HGDQNHQ]XWXQ JLQJHQZLUEHUJDQXQGEHWUDWHQGDVYHUIDOOHQH6FKORPLWVHLQHQJHUlXPLJHQ =LPPHUQVHLQHQ:HQGHOWUHSSHQXQGGXQNOHQ*lQJHQ 'DV DOVR ZDU GHUHLQVW GLH KRFKKHUUVFKDIWOLFKH 5HVLGHQ] GHUHU YRQ .DUQVWHLQ VDJWH VFKOLHOLFK GHU *HQHUDO ZlKUHQG HU YRQ HLQHP JURHQ )HQVWHU DXV EHU GDV 'RUI KLQZHJ DXI GLH EHZDOGHWHQ +JHONHWWHQ EOLFNWH (V ZDU HLQ YHUGHUEWHV *HVFKOHFKW XQG KLHU DQ GLHVHU 6WHOOH ZXUGHQ VHLQH EOXWLJHQ&KURQLNHQJHVFKULHEHQ(VLVWHQWVHW]OLFKGDHVEHUGHQ7RGKLQDXV GLH0HQVFKHQPLWVHLQHQJUDXVDPHQ%HJLHUGHQTXlOHQPX'RUWXQWHQLVWGLH .DSHOOHGHU.DUQVWHLQV (U GHXWHWH DXI GLH JUDXHQ 0DXHUQ GHV JRWLVFKHQ %DXZHUNV GDV YRQ %DXPZLSIHOQKDOEYHUGHFNWHWZDVXQWHUKDOEGHV6FKORVVHVDP$EKDQJODJ 'RUWVFKHLQWHLQ+RO]IlOOHU]XDUEHLWHQ,FKK|UH$[WVFKOlJH9LHOOHLFKWNDQQ HU PLU ]HLJHQ ZDV LFK VXFKH GDV *UDE YRQ 0LUFDOOD .RPWH .DUQVWHLQ 8QWHUGHU/DQGEHY|ONHUXQJKlOWVLFKJHZ|KQOLFKGLH(ULQQHUXQJDQEHUKPWH )DPLOLHQ OHEHQGLJ ZlKUHQG UHLFKH DGHOLJH .UHLVH GDV PHLVWH YHUJHVVHQ VREDOGGLHEHWUHIIHQGHQ*HVFKOHFKWHUDXVJHVWRUEHQVLQG :LU KDEHQ ]X +DXVH HLQ 3RUWUDLW YRQ 0LUFDOOD .RPWH .DUQVWHLQ 0|FKWHQ6LHHVVHKHQ"IUDJWHPHLQ9DWHU 'DVN|QQHQZLUXQVIUVSlWHUDXIVSDUHQ,FKJODXEHLFKKDEHGLHZLUNOLFKH 0LUFDOOD JHVHKHQ (LQHU GHU *UQGH ZDUXP LFK IUKHU DOV EHDEVLFKWLJW ]X ,KQHQJHNRPPHQELQZDUGHU:XQVFKGLH.DSHOOHJHQDX]XXQWHUVXFKHQ :DVVDJHQ6LHGD"'LH.RPWH0LUFDOODJHVHKHQ"'LHLVWGRFKVHLWEHU

KXQGHUW-DKUHQWRW 1LFKWVRWRWZLH6LHJODXEHQQDFKDOOHPZDVLFKHUIDKUHQKDEH ,FK PX JHVWHKHQ GD 6LH PLU 5lWVHO DXIJHEHQ 0HLQ 9DWHU ZDUI LKP HLQHQ %OLFN ]X LQ GHP LFK GLH JOHLFKHQ =ZHLIHO ZLH YRUKLQ ]X OHVHQ JODXEWH $EHUZHQQJOHLFKGHU*HQHUDOHLQLJH0DOHYRU=RUQXQG$EVFKHXJHEHEWKDWWH GHXWHWHQLFKWVGDUDXIKLQGDHUVLFK+LUQJHVSLQVWHQKLQJDE $OV ZLU GXUFK GDV KRKH 3RUWDO LQ GLH .LUFKH WUDWHQ GLH $XVPDH GHV %DXZHUNVHQWVSUDFKHQWDWVlFKOLFKGHQHQHLQHU.LUFKH VDJWHGHU*HQHUDO,Q GHQZHQLJHQ-DKUHQGLHLFKQRFK]XOHEHQKDEHJLEWHVIUPLFKQXUQRFKHLQ =LHOGLH5DFKHDQLKU]XEHQGLHZLHLFK]X*RWWKRIIHHLQHP6WHUEOLFKHQ YRUEHKDOWHQLVW :DVIUHLQH5DFKH"IUDJWHPHLQ9DWHUDXIVK|FKVWHYHUZXQGHUW 'DV8QJHKHXHUN|SIHQ,QZLOGHU(UUHJXQJVWDPSIWHGHU*HQHUDOPLWGHP )X DXI GD HV GXPSI GXUFK GDV YHUIDOOHQH *HZ|OEH KDOOWH (U KRE GLH JHEDOOWH )DXVW DOV XPNODPPHUWH HU GHQ 6WLHO HLQHU $[W XQG VFKWWHOWH VLH ZXWHQWEUDQQW :DV"ULHIPHLQ9DWHUYHUEOIIW ,KPGHQ.RSIDEVFKODJHQ 'HQ.RSIDEVFKODJHQ" -DZRKOPLWHLQHU$[WRGHUHLQHP6SDWHQRGHUHWZDVDQGHUHPZRPLWPDQLKU GLHP|UGHULVFKH.HKOHVSDOWHQNDQQ,FKZLOOHV,KQHQHUNOlUHQ9RU:XW ]LWWHUQGHLOWHHUZHLWHU 'LHVHU%DONHQVDJWHHUNDQQDOV6LW]JHOHJHQKHLWGLHQHQ,KUH7RFKWHULVW PGH 6LH VROO VLFK DXVUXKHQ XQG LFK ZHUGH PHLQH VFKUHFNOLFKH *HVFKLFKWH UDVFK]X(QGHHU]lKOHQ ,FK ZDU IURK GHQ NDQWLJHQ %DONHQ GHU DXI GHP YRQ *UDV EHUZXFKHUWHQ 6WHLQERGHQGHU.DSHOOHODJDOV%DQNEHQXW]HQ]XN|QQHQ,Q]ZLVFKHQKDWWH GHU*HQHUDOGHP+RO]IlOOHUGHUJHUDGHHLQLJHDQGHQDOWHQ0DXHUQOHKQHQGH bVWHZHJWUXJHWZDV]XJHUXIHQ.XU]GDQDFKVWDQGGHUVWlPPLJHDOWH0DQQ GLH$[WLQGHU+DQGYRUXQV hEHUGLH*UDEVWlWWHQZXWHHUQLFKWV]XEHULFKWHQ(UHU]lKOWHDEHUGDVLFK LQ GHP HWZD ]ZHL 0HLOHQ HQWIHUQWHQ 3IDUUKDXV ]XU =HLW HLQ DOWHU +HUU DXIKDOWH GHU YLHO LQ GLHVHP :DOG XPKHUZDQGHUH XQG XQV VlPWOLFKH *UlEHU GHU)DPLOLH.DUQVWHLQ]HLJHQN|QQH)UHLQ7ULQNJHOGHUNOlUWHHUVLFKEHUHLW

GLHVHQ0DQQLQHLQHUJXWHQKDOEHQ6WXQGHKHUEHL]XKROHQIDOOVZLULKPHLQV XQVHUHU3IHUGHOHLKHQZROOWHQ $UEHLWHQ6LHVFKRQODQJHLQGLHVHU*HJHQG"IUDJWHPHLQ9DWHUGHQ$OWHQ ,FK ELQ VHLW PHLQHU -XJHQG EHLP KLHVLJHQ )|UVWHU DOV :DOGDUEHLWHU EHVFKlIWLJWDQWZRUWHWHHULPODQGHVEOLFKHQ'LDOHNWJHQDXZLHPHLQ9DWHU XQGPHLQ*URYDWHUXQGYLHOHPHLQHU9RUIDKUHQ,FK NDQQ ,KQHQ VRJDU GDV +DXVGUEHQLP'RUI]HLJHQLQGHPVLHJHZRKQWKDEHQ :DUXPLVWGDV'RUIYHU|GHW"IUDJWHGHU*HQHUDO :HLOKLHUGLH*HLVWHUGHU7RWHQJHVSXNWKDEHQ+HUU(LQLJHKDWPDQELV]X LKUHQ *UlEHUQ YHUIROJW GXUFK GLH EOLFKHQ 8QWHUVXFKXQJHQ LGHQWLIL]LHUW XQG GDQQDXIGLHEOLFKH$UWYHUQLFKWHWGXUFK.|SIHQ3IlKOHQXQG9HUEUHQQHQ 9RUKHUDOOHUGLQJVPXWHQYLHOH'|UIOHULKU/HEHQODVVHQ$EHUREZRKOPDQ VWUHQJQDFKGHP*HVHW]]DKOUHLFKH*UlEHUJH|IIQHWXQGYLHOH9DPSLUHHLQIU DOOHPDODP:HLWHUOHEHQJHKLQGHUWKDWWHNRQQWHGDV'RUINHLQH5XKHILQGHQ 'D IXKU HLQHV 7DJHV HLQ (GHOPDQQ DXV 0lKUHQ GXUFK GLHVH *HJHQG K|UWH YRQGHQ9RUIlOOHQXQGHUERWVLFKGDHUZLHYLHOHVHLQHU/DQGVOHXWHLQVROFKHQ 'LQJHQ (UIDKUXQJ KDWWH GDV 'RUI YRQ VHLQHP 3HLQLJHU ]X EHIUHLHQ 'DV JHODQJLKPDXIIROJHQGH:HLVH'DLQMHQHU1DFKWKHOOHU0RQGVFKHLQZDU VWLHJHUNXU]QDFK6RQQHQXQWHUJDQJDXIGHQ7XUPGLHVHU.DSHOOHYRQZRDXV HUGHQ)ULHGKRIGHQ6LHGXUFKV)HQVWHUGRUWVHKHQJHQDXEHREDFKWHQNRQQWH (UZDUWHWHELVHUVDKZLHGHU9DPSLUDXVVHLQHP*UDEVWLHJGLH/HLQWFKHU LQGLHHUJHKOOWZDUGDQHEHQOHJWHXQGGDYRQKXVFKWHXPGLH/HXWHLP'RUI ]XSHLQLJHQ 1XQVWLHJGHU)UHPGHYRP7XUPKHUDEQDKPGLH*UDEWFKHUGHV9DPSLUVDQ VLFK XQG EHJDE VLFK ZLHGHU DXI VHLQHQ :DFKWSRVWHQ $OV GHU 9DPSLU YRQ VHLQHP QlFKWOLFKHQ 6WUHLI]XJ ]XUFNNHKUWH GLH 7FKHU QLFKW YRUIDQG XQG GHQ 0DQQ DXI GHP 7XUP REHQ VWHKHQ VDK VWLH HU HLQHQ ZWHQGHQ 6FKUHL DXV 'DUDXIEHGHXWHWHLKPGHU+HUUDXV0lKUHQKHUDXI]XNRPPHQXQGGLH7FKHU ]X KROHQ 'HU 9DPSLU HUNORPP GHQ 7XUP XQG KDWWH NDXP GLH 3ODWWIRUP HUUHLFKWDOVGHU)UHPGHLKPPLWHLQHP6FKZHUWVWUHLFKGHQ6FKlGHOVSDOWHWH 'DQQ VFKOHXGHUWH HU GHQ .|USHU LQ GHQ )ULHGKRI OLHI GLH :HQGHOWUHSSH KLQXQWHUXQGVFKOXJGHP9DPSLUGHQ.RSIDE$PQlFKVWHQ7DJEHUJDEHU .|USHU XQG .RSI GHQ 'RUIEHZRKQHUQ GLH GLH 3IlKOXQJ XQG 9HUEUHQQXQJ YRUQDKPHQ

'HU PlKULVFKH (GHOPDQQ HUKLHOW YRP GDPDOLJHQ 2EHUKDXSW GHU )DPLOLH GLH (UODXEQLV GLH *UDEVWlWWH 0LUFDOODV .RPWH .DUQVWHLQ ]X ]HUVW|UHQ XQG GDV WDW HU VR JUQGOLFK GD ZHQLJ VSlWHU IDVW QLHPDQG PHKU ZXWH ZR VLH VLFKEHIXQGHQKDWWH .|QQHQ6LHXQVGLH6WHOOH]HLJHQ"IUDJWHGHU*HQHUDOJHVSDQQW 'HU+RO]IlOOHUVFKWWHOWHIUHXQGOLFKOlFKHOQGGHQ.RSI 'DV NDQQ KHXWH QLHPDQG PHKU $XHUGHP KHLW HV GLH /HLFKH VHL ZHJJHVFKDIIWZRUGHQ$EHUDXFKGDVZHLPDQQLFKWJHQDX 'DQQOLHHUGDGLH=HLWGUlQJWHVHLQH$[W]X%RGHQIDOOHQXQGPDFKWHVLFK DXIGHQ:HJ:LUDEHUK|UWHQQXQGHQ5HVW GHU VHOWVDPHQ *HVFKLFKWH GHV *HQHUDOV

;,9'LH%HJHJQXQJ 0HLQ JHOLHEWHV .LQG YHUILHO QXQ LPPHU VFKQHOOHU 'HU EHKDQGHOQGH $U]W NRQQWHJHJHQGLH.UDQNKHLWGHQQIUHLQHVROFKHKLHOWLFK%HUWKDV=XVWDQG QLFKW GDV *HULQJVWH DXVULFKWHQ (U EHPHUNWH PHLQH $QJVW XQG VFKOXJ YRU HLQHQ.ROOHJHQ]X]X]LHKHQ,FKVDQGWHQDFKHLQHPHUIDKUHQHQ$U]WGHULQ*UD] ZRKQW%LV]XVHLQHU$QNXQIWYHUVWULFKHQPHKUHUH7DJH(UHUZLHVVLFKDOVHLQ JXWHU IURPPHU XQG KRFKJHOHKUWHU 0DQQ 1DFKGHP GLH EHLGHQ bU]WH EHL PHLQHP0QGHOJHZHVHQZDUHQ]RJHQVLHVLFK]XU%HUDWXQJLQGLH%LEOLRWKHN ]XUFN:lKUHQGLFKLP=LPPHUQHEHQDQGDUDXIZDUWHWH]XLKQHQJHUXIHQ]X ZHUGHQ K|UWH LFK ZLH GLH EHLGHQ +HUUHQ DXIHLQDQGHU HLQVSUDFKHQ ODXWHU DOV PDQ HV EHL HLQHP *HGDQNHQDXVWDXVFK ]X WXQ SIOHJW ,FK NORSIWH DQ XQG WUDW HLQ 'HU DOWH *UD]HU $U]W YHUWHLGLJWH JHUDGH VHLQH 'LDJQRVH JHJHQ GLH VHLQ .RQNXUUHQWPLWXQYHUKRKOHQVS|WWLVFKHQYRQ/DFKVDOYHQEHJOHLWHWHQ:RUWHQ ]X )HOGH ]RJ %HL PHLQHP (LQWUHWHQ YHUVWXPPWHQ GLHVH $XVIlOOH XQG GHU :RUWZHFKVHOZXUGHDEJHEURFKHQ 0LUVFKHLQW VDJWHGHU]XHUVWNRQVXOWLHUWH $U]W ]X PLU PHLQ JHOHKUWHU .ROOHJH LVW GHU 0HLQXQJ GD 6LH NHLQHQ 0HGL]LQHUVRQGHUQHLQHQ7HXIHOVEHVFKZ|UHUEUDXFKHQ

(QWVFKXOGLJHQ 6LH JHIlOOLJVW ZDUI GHU *UD]HU $U]W lUJHUOLFK HLQ DEHU LFK ZHUGHPHLQH0HLQXQJEHUGLHVHQ)DOOVSlWHUlXHUQXQG]ZDULQGHU)RUP

GLH LFK IU ULFKWLJ KDOWH +HUU *HQHUDO LFK EHGDXUH DXIULFKWLJ GD PHLQ :LVVHQ XQG PHLQH SUDNWLVFKH (UIDKUXQJ KLHU YHUVDJHQ 9RU PHLQHU $EUHLVH ZHUGHLFKPLUJHVWDWWHQ,KQHQHLQHQ9RUVFKODJ]XPDFKHQ

1DFKGHQNOLFK VHW]WH HU VLFK DQ GHQ 7LVFK XQG EHJDQQ ]X VFKUHLEHQ %LWWHU HQWWlXVFKWYHUEHXJWHLFKPLFKXQGJLQJDXIGLH7U]X'DEHLEHPHUNWHLFKZLH GHU DQGHUH $U]W EHU GLH 6FKXOWHU DXI VHLQHQ VFKUHLEHQGHQ .ROOHJHQ GHXWHWH GLH$FKVHOQ]XFNWHXQGPLWGHP)LQJHUYLHOVDJHQGDQVHLQH6WLUQWLSSWH 'LH .RQVXOWDWLRQ KDWWH PLFK DOVR NHLQHQ 6FKULWW ZHLWHU JHEUDFKW 9HUZLUUW JLQJ LFK KLQDXV LQV )UHLH (WZD ]HKQ 0LQXWHQ VSlWHU KROWH PLFK GHU *UD]HU $U]WHLQ(UVHLPLUVDJWHHUHQWVFKXOGLJHQGQXUGHVKDOEJHIROJWZHLOHUHV PLW VHLQHP *HZLVVHQ QLFKW YHUHLQEDUHQ N|QQH DE]XIDKUHQ RKQH PLW PLU JHVSURFKHQ ]X KDEHQ (U WlXVFKH VLFK JHZL QLFKW HV JHEH NHLQH QDWUOLFKH .UDQNKHLWPLWlKQOLFKHQ6\PSWRPHQGHU7RGVHLEHUHLWVLQEHGURKOLFKH1lKH JHUFNW GRFK N|QQH GLH .UDQNH VHLQHU 0HLQXQJ QDFK QRFK HLQHQ 7DJ P|JOLFKHUZHLVHDXFK]ZHLGXUFKKDOWHQ6ROOWHHVJHOLQJHQGHQHQWVFKHLGHQGHQ $QIDOO VRIRUW ]X XQWHUELQGHQ GDQQ ZUGH VLH EHL VRUJIlOWLJVWHU 3IOHJH YLHOOHLFKW ZLHGHU ]X .UlIWHQ NRPPHQ $OOHV KLQJH MHW]W GDYRQ DE GDV 8QDXIKDOWVDPH XQWHU .RQWUROOH ]X KDOWHQ (LQ HLQ]LJHU $QIDOO N|QQWH LQ GLHVHP6WDGLXPGHQOHW]WHQVFKZDFKHQ/HEHQVIXQNHQDXVO|VFKHQ

8QGZHOFKHU$UWVLQGGLHVH$QIlOOH" IUDJWHLFKXQJHGXOGLJ

'DVKDEHLFKDOOHVVFKULIWOLFKGDUJHOHJW,FKEHUJHEH,KQHQPHLQHQ%HULFKW XQWHU GHU %HGLQJXQJ GD 6LH VRIRUW HLQHQ *HLVWOLFKHQ KROHQ ODVVHQ XQG LQ VHLQHU*HJHQZDUWGLHVHQ8PVFKODJ|IIQHQ/HVHQ6LHGLHVH=HLOHQDXINHLQHQ )DOOYRUKHU6LHZUGHQVLHQLFKWHUQVWQHKPHQDEHUJODXEHQ6LHPLUHVJHKW WDWVlFKOLFK XP /HEHQ XQG 7RG 6ROOWH GHU 3IDUUHU YHUKLQGHUW VHLQ GDQQ PVVHQ6LHDOOHUGLQJVGHQ%HULFKWDOOHLQOHVHQ

%HYRUHUVLFKYHUDEVFKLHGHWHIUDJWHHURELFKHLQHQ0DQQNHQQHQOHUQHQZROOH GHUHUVWDXQOLFKH.HQQWQLVVHDXIGHP*HELHWEHVLW]HGHPQDFKGHU/HNWUHGHV %HULFKWV ZDKUVFKHLQOLFK DXFK PHLQ EHVRQGHUHV ,QWHUHVVH JHOWHQ ZUGH 0LW GHPGULQJHQGHQ5DWGLHVHQ0DQQHLQ]XODGHQYHUOLHHUPLFK 'HU*HLVWOLFKHZDUQLFKW]X+DXVHXQGVRODVLFKGLH$XI]HLFKQXQJHQDOOHLQ 8QWHUDQGHUHQ8PVWlQGHQKlWWHLFKVLFKHUGDUEHU JHODFKW $EHU ]X ZHOFKHQ 4XDFNVDOEHUHLHQQLPPWPDQQLFKW=XIOXFKWZHQQDOOHDQGHUHQ0LWWHOYHUVDJW KDEHQXQGGDV/HEHQHLQHVJHOLHEWHQ0HQVFKHQDXIGHP6SLHOHVWHKW

(WZDV 8QVLQQLJHUHV DOV GDV 6FKUHLEHQ MHQHV HUIDKUHQHQ $U]WHV N|QQHQ 6LH VLFK NDXP YRUVWHOOHQ (V ZDU DEVXUG JHQXJ XP VHLQH (LQOLHIHUXQJ LQV ,UUHQKDXV ]X UHFKWIHUWLJHQ (U EHKDXSWHWH GLH 3DWLHQWLQ ZHUGH YRQ HLQHP 9DPSLU KHLPJHVXFKW 'LH 6WLFKH GLH VLH DQ GHU .HKOH YHUVSUW KDWWH VWDPPWHQ VHLQHU hEHU]HXJXQJ QDFK YRQ GHQ EHLGHQ ODQJHQ GQQHQ VSLW]HQ =lKQHQGLHEHNDQQWOLFKHLQ0HUNPDOGHV9DPSLUVVHLHQ$XFK]ZHLIOHHUQLFKW LPJHULQJVWHQGDUDQGDMHQHUGHXWOLFKHUNHQQEDUHNOHLQHEOlXOLFKH)OHFNYRQ GHQ/LSSHQGHV'lPRQVKLQWHUODVVHQZRUGHQVHL)HUQHUHQWVSUlFKHQDOOHYRQ GHU .UDQNHQ VHOEVW JHVFKLOGHUWHQ 6\PSWRPH JHQDX GHQHQ GLH PDQ LQ lKQOLFKHQ)lOOHQIHVWJHVWHOOWKDEH 'D LFK QLFKW DQ (UVFKHLQXQJHQ ZLH 9DPSLUH JODXEWH VDK LFK LQ GHU EHUQDWUOLFKHQ (UNOlUXQJ GHV $U]WHV HLQHQ ZHLWHUHQ %HZHLV GDIU GD *HOHKUVDPNHLW XQG ,QWHOOLJHQ] KlXILJ HLQHQ VHOWVDPHQ %XQG PLW LUJHQGZHOFKHQ:DKQYRUVWHOOXQJHQHLQJHKHQ$EHULFKZDUVRYHU]ZHLIHOWGD LFKXPEHUKDXSWHWZDV]XWXQGHQVFKULIWOLFKHQ$QZHLVXQJHQIROJWH ,FKYHUVWHFNWHPLFKLQGHPGXQNOHQ$QNOHLGHUDXPQHEHQGHPYRQHLQHUHLQ]LJHQ .HU]H HUOHXFKWHWHQ =LPPHU GHU 3DWLHQWLQ XQG EHREDFKWHWH ZLH VLH HLQVFKOLHI ,FK VWDQG KLQWHU GHU 7U XQG VSlKWH GXUFK GHQ VFKPDOHQ 6SDOW 'HU ,QVWUXNWLRQ HQWVSUHFKHQG KDWWH LFK PHLQ 6FKZHUW QHEHQ PLFK DXI GHQ 7LVFK JHOHJW .XU] QDFK HLQ 8KU JODXEWH LFK ]X VHKHQ ZLH HLQ JURHV VFKZDU]HV (WZDVGHVVHQ8PULVVHYHUVFKZRPPHQZDUHQEHUGDV)XHQGHGHV%HWWHV NURFK VLFK UDVFK ELV ]XP +DOV GHV 0lGFKHQV YRUVFKRE XQG LP QlFKVWHQ 0RPHQW]XHLQHPULHVLJHQYLEULHUHQGHQ.OXPSHQDQVFKZROO (LQ SDDU $XJHQEOLFNH ODQJ ZDU LFK ZLH YHUVWHLQHUW 'DQQ HUJULII LFK PHLQ 6FKZHUW XQG VWUPWH LQV =LPPHU 8USO|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

YHUVFKZXQGHQ XQG VHLQ 2SIHU YHUILHO ]XVHKHQGV XQG VWDUE QRFK YRU 0RUJHQJUDXHQ 'HUDOWH*HQHUDO]LWWHUWHYRU(UUHJXQJ:LUDQGHUHQVFKZLHJHQ0HLQ9DWHU JLQJ KLQEHU ]X GHQ *UDEVWHLQHQ XQG ODV GLH ,QVFKULIWHQ 0LW VHLQHQ 1DFKIRUVFKXQJHQ EHVFKlIWLJW YHUVFKZDQG HU LQ HLQHP 6HLWHQVFKLII 'HU *HQHUDOKDWWHVLFKJHJHQGLH0DXHUJHOHKQWXQGWURFNQHWHVLFKPLWHLQHPWLHIHQ 6HXI]HU GLH $XJHQ ,FK DWPHWH DXI DOV LFK 6WLPPHQ K|UWH &DUPLOOD XQG 0DGDPH ZDUHQ DXI GHP :HJ ]X XQV 'RFK NXU] GDUDXI HQWIHUQWHQ VLFK GLH 6WLPPHQZLHGHU ,Q GLHVHU (LQVDPNHLW QRFK JDQ] XQWHU GHP (LQGUXFN GHU VHOWVDPHQ *HVFKLFKWHGLH]ZHLIHOORVHWZDVPLWGHQHUODXFKWHQ7RWHQGHUHQ*UlEHUULQJV XP XQV XQWHU 6WDXE XQG (IHX YHUPRGHUWHQ ]X WXQ KDWWH XQG GLH LQ DOOHQ (LQ]HOKHLWHQ PHLQHP HLJHQHQ UlWVHOKDIWHQ )DOO JOLFK DQ GLHVHP JHVSHQVWLVFKHQ 2UW GHVVHQ VWXPPH 0DXHUQ YRQ KRKHQ %lXPHQ XPJHEHQ ZDUHQ GXUFK GHUHQ GLFKWHV /DXE NDXP HLQ /LFKWVWUDKO GUDQJ IKOWH LFK GDV (QWVHW]HQ QDFK PLU JUHLIHQ 'HU *HGDQNH GD PHLQH *HIlKUWLQQHQ P|JOLFKHUZHLVHQLFKWKHUHLQNRPPHQXQGGLHVHWUDXULJHGVWHUH6]HQHEHHQGHQ ZUGHQHUIOOWHPLFKPLW$QJVW 'HU DOWH *HQHUDO VWDQG JHVHQNWHQ %OLFNHV GD GHQ $UP DXI GLH 6WHLQSODWWH HLQHVYHUIDOOHQHQ*UDEPDOHVJHVWW]W 'XUFK HLQHQ VFKPDOHQ 7RUERJHQ EHU GHP VLFK HLQH MHQHU JURWHVNHQ 'lPRQHQIUDW]HQ EHIDQG ZLH VLH LPPHU ZLHGHU GHU ]\QLVFKHQ JUDXVDPHQ 3KDQWDVLH GHU JRWLVFKHQ 6WHLQPHW]HQ HQWVSUXQJHQ VLQG VDK LFK LQ GLHVHP $XJHQEOLFN ]X PHLQHU (UOHLFKWHUXQJ GLH VFK|QH *HVWDOW &DUPLOODV LQ GLH GVWHUH.DSHOOHWUHWHQ ,FK QLFNWH LKU ]X VLH JUWH PLW LKUHP HLJHQWPOLFK DQ]LHKHQGHQ /lFKHOQ ]XUFN ,FK ZROOWH JHUDGH DXIVWHKHQ XQG ]X LKU JHKHQ DOV SO|W]OLFK GHU DOWH 0DQQQHEHQPLUPLWHLQHP$XIVFKUHLQDFKGHU$[WGHV+RO]IlOOHUVJULIIXQG DXI&DUPLOOD]XVWU]WH$OVVLHLKQHUEOLFNWHQDKPLKU*HVLFKWHLQHQEUXWDOHQ $XVGUXFNDQ'LHVHIXUFKWEDUH9HUZDQGOXQJJLQJEOLW]DUWLJYRUVLFKXQGLP VHOEHQ0RPHQWGXFNWHVLFKLKUH*HVWDOWXQGPDFKWHHLQHQ6FKULWWUFNZlUWV %HYRU LFK VFKUHLHQ NRQQWH VFKOXJ HU PLW DOOHU .UDIW QDFK LKU VLH DEHU ZLFK GHP+LHEDXVEOLHEXQYHUOHW]WXQGXPNODPPHUWHPLWLKUHQ]DUWHQ)LQJHUQVHLQ +DQGJHOHQN (LQHQ $XJHQEOLFN ODQJ YHUVXFKWH HU YHU]ZHLIHOW VHLQHQ $UP ]X

EHIUHLHQGDQQOLHHUGLH$[W]X%RGHQIDOOHQ&DUPLOODZDUYHUVFKZXQGHQ 7DXPHOQG OHKQWH HU VLFK JHJHQ GLH 0DXHU 6HLQH JUDXHQ +DDUH ZDUHQ JHVWUlXEWXQGGHU6FKZHLVWDQGLKPLQV*HVLFKW(UVDKDXVDOVZUGHHU LQGHUQlFKVWHQ6HNXQGHVHLQHQ*HLVWDXIJHEHQ 'LHJDQ]HHQWVHW]OLFKH6]HQHKDWWHQXUHLQHQ0RPHQWJHGDXHUW'DVQlFKVWH DQ GDV LFK PLFK HULQQHUQ NDQQ LVW GD 0DGDPH YRU PLU VWDQG XQG LPPHU ZLHGHUIUDJWH:RLVW0DGHPRLVHOOH&DUPLOOD" 6FKOLHOLFKVWDPPHOWHLFK,FKZHLQLFKWLFK NDQQ V QLFKW VDJHQ VLH LVW GRUWKLQJHJDQJHQ,FKGHXWHWHDXIGLH3IRUWHGXUFKGLH0DGDPHHLQJHWUHWHQ ZDU $EHU LFK ZDU GRFK LQ GHP 'XUFKJDQJ GRUW GUEHQ VHLW 0DGHPRLVHOOH &DUPLOOD KLHU KHUHLQJHNRPPHQ LVW 8QG GRUW LVW VLH EHVWLPPW QLFKW ZLHGHU DXIJHWDXFKW 'DQQ EHJDQQ VLH DQ VlPWOLFKHQ 7UHQ LQ DOOHQ *lQJHQ XQG YRQ GHQ )HQVWHUQDXVQDFK&DUPLOOD]XUXIHQ(VNDPNHLQH$QWZRUW 6LHKDWVLFK &DUPLOOD JHQDQQW"IUDJWHQRFKLPPHUHUUHJWGHU*HQHUDO ,FKEHMDKWH (VVWLPPWVDJWHHUVLHLVW0LOODUFD8QGVLHLVWGLHVHOEHGLHYRUODQJHU =HLW 0LUFDOOD .RPWH .DUQVWHLQ KLH /LHEHV .LQG YHUODVVHQ 6LH GLHVHQ YHUIOXFKWHQ 2UW VR VFKQHOO 6LH N|QQHQ )DKUHQ 6LH ]XP 3IDUUKDXV XQG ZDUWHQ 6LH GRUW DXI XQV +RIIHQWOLFK VHKHQ 6LH &DUPLOOD QLHPDOV ZLHGHU +LHUZHUGHQ6LHVLHQLFKWILQGHQ

;99HUIDKUHQXQG9ROOVWUHFNXQJ :lKUHQG HU VSUDFK WUDW YRQ GHP 7RUERJHQ KHU XQWHU GHP &DUPLOOD HUVFKLHQHQXQGYHUVFKZXQGHQZDUHLQHUGHUVHOWVDPVWHQ0HQVFKHQGLHPLUMH EHJHJQHW VLQG LQ GLH .DSHOOH (U ZDU JUR XQG VFKPDOEUVWLJ JLQJ PLW KRFKJH]RJHQHQ 6FKXOWHUQ YRUQEHUJHEHXJW XQG ZDU VFKZDU] JHNOHLGHW 6HLQ EUDXQHV YHUWURFNQHWHV *HVLFKW ZDU YRQ WLHIHQ )XUFKHQ GXUFK]RJHQ (U WUXJ HLQHQ PHUNZUGLJHQ EUHLWNUHPSLJHQ +XW XQG HLQH %ULOOH PLW *ROGUDQG (U JLQJ ODQJVDP PLW VHOWVDP ZDWVFKHOQGHQ %HZHJXQJHQ XQG VHLQ PDQFKPDO

GHP +LPPHO PDQFKPDO GHU (UGH ]XJHNHKUWHV *HVLFKW VFKLHQ VWlQGLJ ]X OlFKHOQ (U VFKZHQNWH GLH ODQJHQ GQQHQ $UPH XQG JHVWLNXOLHUWH PLW GHQ VFKPDOHQ+lQGHQGLHLQYLHO]XZHLWHQVFKZDU]HQ+DQGVFKXKHQVWHFNWHQ 'DLVWHUMDULHIGHU*HQHUDOXQGJLQJPLWDOOHQ=HLFKHQGHU)UHXGHDXIGHQ 0DQQ]X 0HLQ OLHEHU %DURQ LFK ELQ JOFNOLFK 6LH KLHU ]X VHKHQ ,FK KDWWH QLFKW JHKRIIW ,KQHQ VREDOG ZLHGHU]XEHJHJQHQ (U JDE PHLQHP LQ]ZLVFKHQ ]XUFNJHNHKUWHQ9DWHUHLQ=HLFKHQIKUWHGHQZXQGHUOLFKHQDOWHQ+HUUQ]XLKP XQG VWHOOWH LKQ YRU 'DUDXI YHUWLHIWHQ VLH VLFK LQ HLQ HUQVWHV *HVSUlFK 'HU )UHPGH]RJHLQ]XVDPPHQJHUROOWHV'RNXPHQWDXVGHU7DVFKHXQGEUHLWHWHHV DXIHLQHUYHUZLWWHUWHQ*UDESODWWHDXV0LWHLQHP%OHLVWLIWGHXWHWHHUDXIGHP 3DSLHU 9HUELQGXQJVOLQLHQ ]ZLVFKHQ HLQ]HOQHQ 3XQNWHQ DQ 'DUDXV GD GLH GUHL LPPHU ZLHGHU DXIVDKHQ XQG EHVWLPPWH 6WHOOHQ GHV %DXZHUNV LQV $XJH IDWHQVFKORLFKGDVLHHLQHQ*UXQGULGHU.DSHOOHYRUVLFKKDWWHQ6HLQHQ 9RUWUDJZLHLFKHVQHQQHQP|FKWHHUJlQ]WHGHU)UHPGHGXUFKJHOHJHQWOLFKHV 9RUOHVHQDXVHLQHPDEJHJULIIHQHQNOHLQHQ%XFKGHVVHQYHUJLOEWH6HLWHQHQJ EHVFKULHEHQZDUHQ .XU] GDUDXI JLQJHQ GLH GUHL SODXGHUQG GXUFK GDV PHLQHP 3ODW]H JHJHQEHUOLHJHQGH 6HLWHQVFKLII 'DQQ EHJDQQHQ VLH (QWIHUQXQJHQ DE]XVFKUHLWHQ XQG VFKOLHOLFK EOLHEHQ VLH DQ HLQHU EHVWLPPWHQ 6WHOOH GHU $XHQPDXHUVWHKHQGLHVLHSHLQOLFKJHQDXXQWHUVXFKWHQ=XHUVWHQWIHUQWHQVLH GLH(IHXUDQNHQGDQQNUDW]WHQXQGNORSIWHQVLHPLWLKUHQ6W|FNHQGHQ9HUSXW] KHUXQWHU(QGOLFKVWLHHQVLHDXIHLQHJURH0DUPRUSODWWHPLWHUK|KWHQDXV 6WHLQJHPHLHOWHQ/HWWHUQ %DOGGDQDFKNDPGHU+RO]IlOOHU]XUFNXQGPLWVHLQHU+LOIHOHJWHQVLHHLQH LPSRVDQWH,QVFKULIWXQGHLQ:DSSHQIUHLGLHEHZLHVHQGDHVVLFKXPGDVVR ODQJH LQ 9HUJHVVHQKHLW JHUDWHQH *UDEPDO 0LUFDOODV .RPWH .DUQVWHLQ KDQGHOWH 'HUDOWH*HQHUDOGHUHLJHQWOLFKQLFKWGHQ(LQGUXFNPDFKWHDOVEHWHWHHURIW KREGLHJHIDOWHWHQ+lQGHXQGVDQGWHHLQVWXPPHV'DQNJHEHW]XP+LPPHO 0RUJHQ K|UWH LFK LKQ VDJHQ ZLUG GHU .RPPLVVlU KLHU VHLQ XQG GLH DPWOLFKHQ8QWHUVXFKXQJHQGXUFKIKUHQ 'DQQZDQGWHHUVLFK]XGHPDOWHQ0DQQPLWGHUJROGJHUlQGHUWHQ%ULOOHXQG VFKWWHOWHLKPKHU]OLFKGLH+lQGH

+HUU%DURQZLHVROOLFK,KQHQGDQNHQ":LHVROOHQZLUDOOH,KQHQGDQNHQ" 6LH KDEHQ GLHVHQ /DQGVWULFK YRQ HLQHU 3ODJH EHIUHLW GLH VHLW EHU KXQGHUW -DKUHQ GLH %HY|ONHUXQJ KHLPJHVXFKW KDW *RWW VHL /RE XQG 'DQN GHU VFKUHFNOLFKH)HLQGLVWHQGOLFKDXIJHVSUW 0HLQ9DWHUQDKPGHQ)UHPGHQEHLVHLWHGHU*HQHUDOIROJWHLKQHQ,FKZXWH GDVLHDXHU +|UZHLWH JLQJHQ ZHLO PHLQ 9DWHU EHU PHLQHQ )DOO EHULFKWHQ ZROOWHXQGLFKEHPHUNWHZLHVLHLP9HUODXIGHV*HVSUlFKVPHKUPDOVNXU]]X PLUKHUEHUVDKHQ 'DQQ WUDW 3DSD ]X PLU NWH PLFK LPPHU ZLHGHU XQG EHJOHLWHWH PLFK VFKOLHOLFKKLQDXV (VLVWK|FKVWH=HLW]XP+HLPIDKUHQDEHU]XYRUZROOHQZLUGHQ*HLVWOLFKHQ GHUJDQ]LQGHU1lKHZRKQWELWWHQPLWXQV]XNRPPHQ 8QVHUH (LQODGXQJ ZXUGH DQJHQRPPHQ ,FK ZDU XQEHVFKUHLEOLFK PGH XQG IUHXWHPLFKZLHGHU]X+DXVH]XVHLQ'RFKGLH)UHXGHZLFKGHU%HVWU]XQJ DOV LFK HUIXKU GD QLHPDQG HWZDV YRQ &DUPLOOD JHK|UW KDWWH hEHU GLH %HGHXWXQJ GHU 6]HQH GLH LFK LQ GHU YHUIDOOHQHQ .DSHOOH EHREDFKWHW KDWWH ZXUGH LFK QLFKW DXIJHNOlUW 0HLQ 9DWHU ZDU RIIHQEDU HQWVFKORVVHQ PLU GDV *HKHLPQLVYRUOlXILJQLFKW]XHQWKOOHQ 'LH XQHUNOlUOLFKH $EZHVHQKHLW &DUPLOODV OLH PLU MHQHQ 9RUIDOO QRFK VFKUHFNOLFKHU HUVFKHLQHQ 'LH 9RUEHUHLWXQJHQ IU GLH NRPPHQGH 1DFKW ZDUHQ DXHUJHZ|KQOLFK =ZHL +DXVDQJHVWHOOWH XQG 0DGDPH VROOWHQ LQ PHLQHP =LPPHUZDFKHQGHU*HLVWOLFKHXQGPHLQ9DWHUQHEHQDQ 'HU 3ULHVWHU ]HOHEULHUWH DQ MHQHP $EHQG IHLHUOLFKH 5LWHQ GHUHQ 6LQQ LFK HEHQVRZHQLJ YHUVWDQG ZLH GLH *UQGH IU GLH XQJHZ|KQOLFKHQ 6LFKHUKHLWVPDQDKPHQ (LQSDDU7DJHVSlWHUZDUPLUDOOHVNODU 1DFKGHP9HUVFKZLQGHQ&DUPLOODVK|UWHQPHLQHQlFKWOLFKHQ+HLPVXFKXQJHQ DXI 6LHKDEHQEHVWLPPWVFKRQYRQGHPJUlOLFKHQ$EHUJODXEHQJHK|UWGHULQGHU 6WHLHUPDUN LQ 0lKUHQ 6FKOHVLHQ LP WUNLVFKHQ 6HUELHQ LQ 3ROHQ XQG VRJDULQ5XODQGJUDVVLHUWGHP$EHUJODXEHQGHQQVRPVVHQZLUHVQHQQHQ GDHV9DPSLUHJLEW :HQQ PDQ GHQ =HXJHQDXVVDJHQ :HUW EHLPHVVHQ ZLOO GLH PLW JU|WHU *HQDXLJNHLWXQGLQDOOHU)HLHUOLFKNHLWYRUXQ]lKOLJHQ.RPPLVVLRQHQDEJHOHJW

ZXUGHQGHUHQ0LWJOLHGHUDXI*UXQGLKUHU,QWHJULWlWXQG,QWHOOLJHQ]HUQDQQW ZXUGHQXQGGHUHQ%HULFKWHZDKUVFKHLQOLFKXPIDQJUHLFKHUVLQGDOVDOOHVZDV MHPDOV EHU DQGHUH )lOOH YHU|IIHQWOLFKW ZXUGH GDQQ ZLUG PDQ VFKZHUOLFK EHVWUHLWHQ MD QLFKW HLQPDO EH]ZHLIHOQ N|QQHQ GD HV 3KlQRPHQH ZLH GHQ 9DPSLUWDWVlFKOLFKJLEW :DVPLFKEHWULIIWVRKDEHLFKIUPHLQHHLJHQHQ(UOHEQLVVHXQG(UIDKUXQJHQ QRFKNHLQHDQGHUH(UNOlUXQJILQGHQN|QQHQDOVGLHMHQLJHGLHGHUDOWHYLHOIDFK EHVWlWLJWH9RONVJODXEHDQ]XELHWHQKDW $PIROJHQGHQ7DJHIDQGLQGHU.DSHOOH]X.DUQVWHLQGDVYRUVFKULIWVPlLJH 9HUIDKUHQ VWDWW .RPWH 0LUFDOODV *UDE ZXUGH JH|IIQHW XQG DOV GHU *HQHUDOXQGPHLQ9DWHUGDV*HVLFKWLP6DUJHUEOLFNWHQHUNDQQWHQEHLGHLKUHQ VFK|QHQ KHLPWFNLVFKHQ +DXVJDVW 2EZRKO VHLW GHP %HJUlEQLV 0LUFDOODV KXQGHUWXQGIQI]LJ -DKUH YHUJDQJHQ ZDUHQ ]HLJWH LKU *HVLFKW GLH ZDUPHQ )DUEHQ GHV /HEHQV 'LH $XJHQ VWDQGHQ RIIHQ GHP 6DUJ HQWVWU|PWH NHLQ /HLFKHQJHUXFK 'LH EHLGHQ DQZHVHQGHQ bU]WH GHU HLQH ZDU YRQ GHU .RPPLVVLRQGHUDQGHUHYRP,QLWLDWRUGHU8QWHUVXFKXQJ]XJH]RJHQZRUGHQ PDFKWHQGLHHUVWDXQOLFKH)HVWVWHOOXQJGDGLH$WPXQJVRUJDQHXQGGDV+HU] VFKZDFK IXQNWLRQLHUWHQ 'LH *OLHGPDHQ ZDUHQ ELHJVDP GDV )OHLVFK HODVWLVFK'HU6DUJZDUPLW%OXWJHIOOWGHU.|USHUODJVLHEHQ=ROOWLHILQ %OXWJHWDXFKW'DPLWZDUHQDOOHHUIRUGHUOLFKHQ%HZHLVH IU HLQHQ )DOO YRQ 9DPSLULVPXVHUEUDFKW'HPDOWHQ%UDXFKJHPlZXUGHGHU.|USHUDXVGHP 6DUJJHKREHQXQGHLQVSLW]HU3IDKOGXUFKGDV+HU]GHV9DPSLUVJHWULHEHQ GHU LP VHOEHQ 0RPHQW HLQHQ JHOOHQGHQ 6FKUHL DXVVWLH (V NODQJ QLFKW DQGHUVDOVZHQQHLQ0HQVFKLP7RGHVNDPSIVFKUHLW'DQQZXUGHGHU.RSI DEJHVFKODJHQ$XVGHPGXUFKKDFNWHQ+DOVTXROOHLQ%OXWVWURP.|USHUXQG .RSIOHJWHPDQDXIHLQHQ6FKHLWHUKDXIHQOLHVLH]X$VFKHYHUEUHQQHQZDUI GLHVHLQGHQ)OXXQGOLHVLHZHJVFKZHPPHQ6HLWGHPLVWGLHVHU/DQGVWULFK QLHZLHGHUYRQHLQHP9DPSLUJHSODJWZRUGHQ

;9,6FKOX 6LHJODXEHQVLFKHUGDLFKEHLGHU1LHGHUVFKULIWGLHVHV%HULFKWVY|OOLJJHIDW

ZDU 'DV WULIIW NHLQHVZHJV ]X ,FK NDQQ QLFKW RKQH (UUHJXQJ DQ GDV *HVFKHKHQH GHQNHQ 1XU ,KUH ZLHGHUKROWHQ GULQJHQGHQ $QIUDJHQ KDEHQ PLFK ]X GLHVHP 8QWHUIDQJHQ EHZRJHQ GDV PHLQH 1HUYHQ DXI 0RQDWH KLQDXV EHODVWHQZLUGXQGGDVYRQQHXHPHWZDVYRQMHQHPXQVlJOLFKHQ*UDXHQLQPLU ZDFKJHUXIHQKDWGDVQRFK-DKUHQDFKPHLQHU5HWWXQJPHLQH7DJHXQG1lFKWH PLW)XUFKWHUIOOWHXQGPLUMHGHV$OOHLQVHLQXQHUWUlJOLFKPDFKWH /DVVHQ 6LH PLFK QRFK HLQ SDDU :RUWH EHU MHQHQ ZXQGHUOLFKHQ %DURQ 9RUGHQEXUJVDJHQGHVVHQ9HUWUDXWKHLWPLWHLQHUVHOWVDPHQhEHUOLHIHUXQJZLU GLH(QWGHFNXQJYRQ.RPWH.DUQVWHLQV*UDE]XYHUGDQNHQKDWWHQ (UKDWWH*UD]DOV:RKQVLW]JHZlKOWOHEWHGRUWNPPHUOLFKYRQGHPZHQLJHQ GDV LKP YRQ GHQ ZDKUKDIW IUVWOLFKHQ REHUVWHLULVFKHQ %HVLW]XQJHQ VHLQHU )DPLOLH JHEOLHEHQ ZDU XQG ZLGPHWH VLFK XQHUPGOLFK XQG PLW JU|WHU 6RUJIDOW GHU (UIRUVFKXQJ GHU HUVWDXQOLFK JXW EHOHJWHQ *HVFKLFKWH GHV 9DPSLULVPXV (U ZDU DXIV EHVWH YHUWUDXW PLW GHU PHKU RGHU ZHQLJHU EHNDQQWHQ HLQVFKOlJLJHQ /LWHUDWXU PLW 0DJLD 3RVWKXPD 3KOHJRQ GH 0LUDELOLEXV$XJXVWLQXVGH FXUjSUR 0RUWXLV 3KLORVRSKLFDH HW &KULVWLDQDH &RJLWDWLRQHV GH 9DPSLULV YRQ -RKDQQHV &KULVWRIHU +HUHQEHUJ XQG PLW +XQGHUWHQ YRQ DQGHUHQ :HUNHQ YRQ GHQHQ PLU QXU HLQLJH GLH HU PHLQHP 9DWHU JHOLHKHQ KDWWH LQ (ULQQHUXQJ JHEOLHEHQ VLQG (U EHVD HLQH XPIDQJUHLFKH 6DPPOXQJ VlPWOLFKHU *HULFKWVYHUIDKUHQ XQG KDWWH DXI GLHVHU *UXQGODJH V\VWHPDWLVFK DOO MHQH 0HUNPDOH ]XVDPPHQJHVWHOOW DQ GHQHQ 9DPSLUH JUXQGVlW]OLFK RGHU QXU LQ EHVRQGHUHQ )lOOHQ ]X HUNHQQHQ VLQG 1HEHQEHL P|FKWH LFK HUZlKQHQ GD GLH 7RWHQEOlVVH GLH PDQ GLHVHQ 3KDQWRPHQ ]XVFKUHLEW QLFKWV DQGHUHV DOV HLQH PHORGUDPDWLVFKH $XVVFKPFNXQJ LVW 7DWVlFKOLFK VHKHQ VLH JDQ] JOHLFK REVLH VLFK LP 6DUJ RGHUXQWHU0HQVFKHQDXIKDOWHQZLHGDVEOKHQGH/HEHQDXV:HQQPDQVLH LP JH|IIQHWHQ *UDEH OLHJHQ VLHKW VWHOOW PDQ DQ LKQHQ DOOH MHQH 6\PSWRPH IHVW GLH LQ XQVHUHP )DOOH GHQ %HZHLV GDIU OLHIHUWHQ GD GLH VHLW ODQJHP YHUVWRUEHQH.RPWH.DUQVWHLQHLQ9DPSLUZDU :LHHVLKQHQP|JOLFKLVWLKUH*UlEHU]XYHUODVVHQXQGWlJOLFK]XEHVWLPPWHQ =HLWHQ GRUWKLQ ]XUFN]XNHKUHQ RKQH GDV (UGUHLFK DXI]XZKOHQ RGHU GHQ =XVWDQG GHV 6DUJHV XQG GHU /HLFKHQJHZlQGHU ]X YHUlQGHUQ LVW ]XJHJHEHQHUPDHQ ELV KHXWH Y|OOLJ XQHUNOlUOLFK JHEOLHEHQ 'LH DPSKLELVFKH ([LVWHQ]GHV9DPSLUVLVWGXUFKGHQWlJOLFKHQ*UDEHVVFKOXPPHUJHZlKUOHLVWHW

'LH (QHUJLHTXHOOH VHLQHU ([LVWHQ] QDFK GHP (UZDFKHQ LVW VHLQH HQWVHW]OLFKH *LHU QDFK ZDUPHP %OXW 9DPSLUH IKOHQ VLFK KlXILJ PLW HLQHU GHU /LHEHVOHLGHQVFKDIW lKQOLFKHQ +HIWLJNHLW YRQ EHVWLPPWHQ 0HQVFKHQ IDV]LQLHUW 'DQQ YHUIROJHQ VLH LKU =LHO PLW XQHUVFK|SIOLFKHU *HGXOG XQG /LVW GHQQ RIW VWHOOHQVLFKLKQHQ]DKOUHLFKH+LQGHUQLVVHLQGHQ:HJ6LHJHEHQQLHDXIEHYRU VLHQLFKWLKUH/HLGHQVFKDIWJHVWLOOWXQGLKUHP2SIHUGHQOHW]WHQ%OXWVWURSIHQ DXVGHQ$GHUQJHVDXJWKDEHQ,QVROFKHQ)lOOHQJHQLHHQXQGYHUOlQJHUQVLH PLWGHU5DIILQHVVHHLQHV(SLNXUHHUVLKUP|UGHULVFKHV9HUJQJHQXQGHUK|KHQ HV GDGXUFK GD VLH DOOH 6WDGLHQ HLQHU NOXJ GXUFKGDFKWHQ :HUEXQJ GXUFKODXIHQ 'DEHL VHKQHQ VLH VLFK VRJDU QDFK HLQHU $UW 6\PSDWKLH RGHU =XVWLPPXQJ*HZ|KQOLFKDEHUJHKHQVLHLKU2SIHURKQH8PVFKZHLIHDQXQG RIWEHUZlOWLJHQZUJHQXQGYHUQLFKWHQVLHHVLQHLQHPHLQ]LJHQ%OXWUDXVFK ,QPDQFKHQ)lOOHQVFKHLQWGHU9DPSLUEHVRQGHUHQ%HGLQJXQJHQXQWHUZRUIHQ ]XVHLQ%HL0LUFDOODZDUHVGLH%LQGXQJDQHLQHQEHVWLPPWHQ1DPHQGHU ZHQ HU VFKRQ QLFKW LKU XUVSUQJOLFKHU ZDU GRFK VlPWOLFKH %XFKVWDEHQ DXV GHQHQGLHVHUEHVWDQGHQWKDOWHQPXWH&DUPLOODZDUHLQVROFKHV$QDJUDPP 0LOODUFDHEHQIDOOV 0HLQ9DWHUHU]lKOWHGHP%DURQ9RUGHQEXUJGHUQDFKGHPJHZDOWVDPHQ(QGH &DUPLOODV HLQLJH :RFKHQ ODQJ XQVHU *DVW ZDU GLH *HVFKLFKWH YRQ GHP PlKULVFKHQ (GHOPDQQ XQG GHP 9DPSLU DXI GHP )ULHGKRI YRQ .DUQVWHLQ 'DQQ IUDJWH HU LKQ ZLH HU GLH JHQDXH 6WHOOH HUPLWWHOW KDEH DQ GHU VLFK .RPWH.DUQVWHLQV*UDEEHIDQG'DHUVFKLHQDXIGHQJURWHVNHQ=JHQGHV %DURQV HLQ JHKHLPQLVYROOHV /lFKHOQ HU VHQNWH GHQ .RSI XQG VSLHOWH HLQH =HLWODQJPLWVHLQHPDEJHJULIIHQHQ%ULOOHQHWXL$XIEOLFNHQGVDJWHHUGDQQ ,QPHLQHP%HVLW]EHILQGHQVLFKYLHOH7DJHEFKHUXQGDQGHUH$XI]HLFKQXQJHQ GLHVHV LQWHUHVVDQWHQ 0DQQHV $P VHOWVDPVWHQ LVW VHLQ %HULFKW EHU GHQ %HVXFK LQ .DUQVWHLQ YRQ GHP 6LH JHUDGH HU]lKOW KDEHQ 0DQ N|QQWH GHQ +HUUQ]ZDULQVRIHUQDOVHLQHQPlKULVFKHQ(GHOPDQQEH]HLFKQHQDOVHUVHLQHQ :RKQVLW]QDFK0lKUHQYHUOHJWKDWWHXQGYRQ$GHOZDULQ:LUNOLFKNHLWDEHU VWDPPWHHUDXVGHU2EHUVWHLHUPDUN(VPDJJHQJHQZHQQLFK,KQHQVDJH GD HU LQ VHKU MXQJHQ -DKUHQ HLQ OHLGHQVFKDIWOLFKHU XQG DXVVLFKWVUHLFKHU 9HUHKUHUGHUVFK|QHQ0LUFDOOD.DUQVWHLQZDUXQGGDLKUIUKHU7RGLKQLQ DEJUXQGWLHIH9HU]ZHLIOXQJVWU]WH (V LVW HUZLHVHQ GD GLH $Q]DKO GHU 9DPSLUH VLFK VWlQGLJ YHUJU|HUW XQG

YHUYLHOIDFKWGLH*HVHW]PlLJNHLWGLHVHV9RUJDQJHVLVWJHVSHQVWLVFK1HKPHQ ZLU HLQPDO DQ HLQ EHVWLPPWHU /DQGVWULFK VHL Y|OOLJ IUHL YRQ GLHVHU 3ODJH :LH DOVR NDQQ GRUW GDV 8QZHVHQ EHJLQQHQ ZLH VLFK DXVEUHLWHQ" 9LHOOHLFKW QLPPW HLQ PHKU RGHU ZHQLJHU VQGLJHU 0HQVFK VLFK HLQHV 7DJHV GDV /HEHQ $XVHLQHP6HOEVWP|UGHUNDQQXQWHUEHVWLPPWHQ9RUDXVVHW]XQJHQHLQ9DPSLU ZHUGHQ'LHVHUVXFKWVFKODIHQGH0HQVFKHQKHLP6LHVWHUEHQXQGHQWZLFNHOQ VLFK GDQQ LP *UDEH IDVW DXVQDKPVORV HEHQIDOOV ]X 9DPSLUHQ 'DV JHVFKDK PLW GHU VFK|QHQ 0LUFDOOD QDFKGHP VLH GDV 2SIHU HLQHV MHQHU 8QJHKHXHU JHZRUGHQ ZDU 0HLQ 9RUIDKU 9RUGHQEXUJ GHVVHQ 7LWHO LFK QRFK WUDJH HQWGHFNWH NXU] GDUDXI GLHVHQ 6DFKYHUKDOW XQG ZLGPHWH VLFK IRUWDQ GHP 6WXGLXPGHV9DPSLULVPXV8QWHUDQGHUHPNDPHU]XGHP6FKOXGDPDQ GLH WRWH .RPWH GLH HLQVW VHLQ ,GRO JHZHVHQ ZDU PLW JURHU :DKUVFKHLQOLFKNHLWIUKHURGHUVSlWHUYHUGlFKWLJHQ ZUGH *DQ] JOHLFK ZDV DXVLKUJHZRUGHQZDUGHU*HGDQNHLKUHVWHUEOLFKHQhEHUUHVWHN|QQWHQHLQHV 7DJHV GXUFK GLH 8QJHKHXHUOLFKNHLW HLQHU SRVWKXPHQ +LQULFKWXQJ HQWZHLKW ZHUGHQ HUIOOWH LKQ PLW (QWVHW]HQ (U KDW HLQH ZXQGHUOLFKH $EKDQGOXQJ KLQWHUODVVHQ GLH EHZHLVHQ VROO GD 9DPSLUH QDFK GHU JHZDOWVDPHQ %HHQGLJXQJ LKUHU DPSKLELVFKHQ ([LVWHQ] LQ HLQHQ QRFK YLHO VFKUHFNOLFKHUHQ =XVWDQG YHUVHW]W ZHUGHQ -HGHQIDOOV EHVFKOR HU 0LUFDOOD VHLQH HLQVWLJH /LHEHYRUGLHVHP6FKLFNVDO]XEHZDKUHQ (U NRQ]LSLHUWH HLQHQ 3ODQ ZLH HU QDFK .DUQVWHLQ UHLVHQ LKUH VWHUEOLFKHQ hEHUUHVWH DQJHEOLFK HQWIHUQHQ XQG LKU *UDEPDO IU LPPHU XQDXIILQGEDU PDFKHQN|QQWH$OVHUHLQDOWHU0DQQJHZRUGHQZDUXQGEHUGHQ$EJUXQG GHU -DKUH KLQZHJ DQ MHQH 9RUIlOOH ]XUFNGDFKWH VDK HU GDV ZDV HU JHWDQ KDWWHLQHLQHPDQGHUHQ/LFKWXQGQXQHUJULIILKQHLQIXUFKWEDUHU6FKUHFNHQ (U IHUWLJWH GLH 6NL]]HQ DQ GLH PLFK ]XU ULFKWLJHQ 6WHOOH JHIKUW KDEHQ XQG OHJWH HLQ VFKULIWOLFKHV *HVWlQGQLV VHLQHV 7lXVFKXQJVPDQ|YHUV DE 0|JOLFKHUZHLVH KDWWH HU GLH $EVLFKW LQ GLHVHU $QJHOHJHQKHLW QRFK PHKU ]X XQWHUQHKPHQ DEHU GHU 7RG NDP LKP ]XYRU 8QG VR EOLHE HV HLQHP VHLQHU VSlWHQ1DFKIDKUHQYRUEHKDOWHQGLH5XKHVWlWWHGHV6FKHXVDOV]XHQWGHFNHQ ,PZHLWHUHQ9HUODXIGHV*HVSUlFKHVHUNOlUWHHUXQVXQWHUDQGHUHPIROJHQGHV (LQ .HQQ]HLFKHQ GHV 9DPSLUV VLQG GLH XQJHZ|KQOLFK NUlIWLJHQ +lQGH 0LUFDOODV VFKODQNH )LQJHU VFKORVVHQ VLFK ZLH HLQ 6FKUDXEVWRFN XP GDV +DQGJHOHQNGHV*HQHUDOVDOVGLHVHUGLH$[W]XP6FKODJKRE'LHXQJHKHXUH

:LUNXQJ HLQHV VROFKHQ *ULIIHV UHLFKW DEHU QRFK ZHLWHU 'LH 6WHOOH GHV .|USHUVDQGHUGHU9DPSLU]XJHSDFNWKDWZLUGJHIKOORVXQGGLHVH6WDUUH O|VWVLFKQXUVHKUODQJVDPZHQQEHUKDXSW ,PQlFKVWHQ)UKMDKUQDKPPLFKPHLQ9DWHUDXIHLQH,WDOLHQUHLVHPLW:LU EOLHEHQ EHU HLQ -DKU IRUW (V GDXHUWH ODQJH ELV GLH (ULQQHUXQJ DQ GDV *HVFKHKHQH HWZDV YRQ LKUHP 6FKUHFNHQ YHUORU $EHU ELV ]XP KHXWLJHQ 7DJH KDEH LFK &DUPLOOD XQG LKUH ]ZHL *HVLFKWHU LPPHU ZLHGHU YRU PLU JHVHKHQ PDQFKPDO GDV YHUVSLHOWH WUlJH VFK|QH MXQJH 0lGFKHQ PDQFKPDO GHQ VLFK ZLQGHQGHQ 8QKROG DXV GHU YHUIDOOHQHQ .DSHOOH 8QG RIW ZHQQ LFK LQ *HGDQNHQYHUVXQNHQZDUELQLFKKRFKJHVFKUHFNWXQGHVZDUPLUDOVK|UWHLFK DQGHU:RKQ]LPPHUWU&DUPLOODVOHLFKWHQ6FKULWW

(QGH

Carmilla

carmilla

Carmilla

Carmilla A5

Carmilla (Duke Classics)

Carmilla (Duke Classics)

Le Fanu, J Sheridan - Carmilla

Le Fanu, J Sheridan - Carmilla

Our partners will collect data and use cookies for ad personalization and measurement. Learn how we and our ad partner Google, collect and use data. Agree & close