Der Kopfjäger

1U([FOXVLYB%DQG 'HU.RSIMlJHU YRQ.ODXV)LVFKHU ,P *URHQ ,PSHULXP GHU $UNRQLGHQ VFKUHLEW PDQ GDV...

Author: Fischer Klaus

19 downloads 400 Views 230KB 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

1U([FOXVLYB%DQG 'HU.RSIMlJHU YRQ.ODXV)LVFKHU

,P *URHQ ,PSHULXP GHU $UNRQLGHQ VFKUHLEW PDQ GDV -DKU Y $ HLQH =HLW GLH GHP -DKUWDXVHQG Y &KU HQWVSULFKW HLQH =HLW DOVR GD GLH (UGEHZRKQHU LQ %DUEDUHL XQG 3ULPLWLYLWlW YHUKDUUHQ XQG QLFKWVPHKUYRQGHQ6WHUQHQRGHUGHPJURHQ(UEHGHVXQWHUJHJDQJHQHQ/HPXULDZLVVHQ $UNRQKLQJHJHQ²RE]ZDULP.ULHJJHJHQGLH0DDKNVEHILQGOLFK²VWHKWLQYROOHU%OWH,PSHUDWRUGHV 5HLFKHVLVW2UEDQDVFKRO,,,HLQEUXWDOHUXQG(LVWLJHU0DQQGHUGHQ7RGVHLQHV%UXGHUV*RQR]DO9,,LQV]HQLHUW KDWXPVHOEVWGLH+HUUVFKDIWEHUQHKPHQ]XN|QQHQ $XFK ZHQQ 2UEDQDVFKRO VHLQH +HUUVFKDIW JHIHVWLJW KDW²HLQHQ 0DQQ KDW GHU ,PSHUDWRU YRQ $UNRQ ]X IUFKWHQ $WODQ GHQ UHFKWPlLJHQ 7KURQHUEHQ GHU NXU] QDFK GHP 7RGH *RQR]DOV ]XVDPPHQ PLW )DUWXORRQ GHVVHQ/HLEDU]WVSXUORVYHUVFKZDQGXQGEHLGHU$OOJHPHLQKHLWOlQJVWDOVYHUVFKROOHQRGHUWRWJLOW 'RFKGHUMXQJH.ULVWDOOSULQ]LVWTXLFNOHEHQGLJ1DFKGHPPDQLKQEHUVHLQHZDKUH+HUNXQIWLQIRUPLHUW XQG VHLQ ([WUDKLUQ DNWLYLHUW KDW LVW VHLQ JDQ]HV 6LQQHQ XQG 7UDFKWHQ QXU GDUDXI JHULFKWHW GHQ 8VXUSDWRU ]X VWU]HQ $EHU GLHVHV 9RUKDEHQ ZLUG $WODQ QLFKW OHLFKWJHPDFKW 1DFK GHP $XIWDXFKHQ GHU *HVSHQVWHUDUPHHQ ZLUG .UDXPRQ )DUWXORRQVJHKHLPHU+DXSWVWW]SXQNWYRQGHPDXVGLH.DPSDJQH JHJHQ 2UEDQDVFKROVHLQHQ $XVJDQJQHKPHQVROO]XP]ZHLWHQ0DO6FKDXSODW]HUELWWHUWHU.lPSIHDOVGLH$UPHHGHU7LHUHHUVFKHLQW²XQG GHUHQ)KUHU'(5.23)-b*(5 'LH+DXSWSHUVRQHQGDV5RPDQV $WODQ²'HU.ULVWDOOSULQ]ZLUGJHMDJW )DUWXORRQ²$WODQVYlWHUOLFKHU)UHXQGXQG%HVFKW]HU 0RUYRQHU6SUDQJN(LVNUDOOHXQG7LUDNR*DPQR²$WODQVYHUVFKZRUHQH9HUEQGHWH &RUSNRU²+HUUEHUHLQHXQKHLPOLFKH$UPHH 6FKZHL %OXW XQG GLH VFKDUIHQ $XVGQVWXQJHQ YRQ 5DXEWLHUHQ HUIOOWHQ GLH NQVWOLFKH 6XPSIODQGVFKDIW ZHKWHQ KLQEHU ]X GHQ *lQJHQBXQG EUDFKWHQ GLH LQ GHQ .lILJHQ YHUEOLHEHQHQ 7LHUH ]XU 5DVHUHL'LH/HLWHFKVHVWLHHLQHQVFKULOOHQ6FKUHLDXVXQGGLH5DXEVDXULHUIRUPLHUWHQVLFKQHX9|JHOJUHOOURW JHILHGHUW QLFKW OlQJHU DOV HLQHQ KDOEHQ )X PHVVHQG VWLHHQ YRQ REHQ DXI VLH KHUDE .QDSS REHUKDOE GHU 5HSWLOLHQEUHPVWHQVLHDE,KUH5RWRUIOJHOSHLWVFKWHQGLH/XIW]X:LUEHOQKLHOWHQGHQJHILHGHUWHQ.|USHUEHU GHP 1DFNHQ GHU )HLQGH 'LH JH]lKQWHQ 6FKQlEHO IXKUHQ DXI GHQ PDWWVFKLPPHUQGHQ 3DQ]HU KLQXQWHU XP GLH WUDSH]I|UPLJHQ6FKXSSHQDXI]XUHLHQ 'LH (FKVHQ NUPPWHQ GLH ODQJHQ EHZHJOLFKHQ +lOVH VFKQHOOWHQ GLH HLVHQKDUWHQ 6FKlGHO JHJHQ GLH $QJUHLIHU,KUHVWDFKHOEHZHKUWHQ6FKZlQ]HSHLWVFKWHQGXUFKGLH/XIWXPGLH5DXEY|JHO]X]HUVFKPHWWHUQ 'LH KHLVHUHQ 7URPSHWHQW|QH GHU NlPSIHQGHQ 6DXULHU XQG GLH 7RGHVVFKUHLH GHU YHUHQGHWHQ %HVWLHQ PLVFKWHQVLFKPLWGHPVDXVHQGHQ)OJHOVFKODJXQGGHQVFKULOOHQ6FKUHLHQGHUDQJUHLIHQGHQ.UDDXVV,P0RUDVW JXUJHOWHHV.|USHUNODWVFKWHQVFKZHULQGHQEURGHOQGHQ6FKODPPXQGYHUVDQNHQ 'LH1LHGHUODJHGHU(FKVHQ]HLFKQHWHVLFKDE 'D|IIQHWHVLFKKRFKREHQXQWHUGHP'DFKHLQHLVHUQHV6FKRWW$XVGHU+|KHGHU.XSSHOILHOHVKHUDE YLHUEHLQLJ YLHUIOJHOLJ GHQ HLQJHVFKQUWHQ .|USHU FKLWLQJHSDQ]HUW 7XOKB)DOWHU (LQ SDDU KXQGHUW YRQ LKQHQ 6LH VHJHOWHQ GLDJRQDO GXUFK GHQ 5DXP KLQ XQG KHU 'LH EXQWHQ 2UQDPHQWH DXI GHQ JURHQ 7UDSH]IOJHOQ OHXFKWHWHQLQYHUIKUHULVFKHQ)DUEHQ6RWDQ]WHQXQGVFKZHEWHQVLHDQGHQ.lPSIHQGHQYRUEHLXQGZHUYRQ GLHVHQ DXI GLH 2UQDPHQWLN GHU JUQHQ SXUSXUQHQ JHOEHQ XQG EODXHQ /LQLHQ XQG .UHLVH EOLFNWH YHUILHO

DXJHQEOLFNOLFKLQHLQHW|GOLFKH6WDUUH 5HSWLOLHQXQG9|JHOEHJULIIHQLQVWLQNWLYGLHW|GOLFKH%HGURKXQJ*HPHLQVDPZHKUWHQVLHVLFKJHJHQGHQ VFKLOOHUQGHQ 7RG +XQGHUWPDO VFKQHOOHU ZDUHQ LKUH %HZHJXQJHQ DOV GLHMHQLJHQ GHU 5LHVHQIDOWHU 9LEUDWRUHQ JOHLFK IXKUHQ GLH 6FKQlEHO GHU .UDDXVV GXUFK GLH /XIW 'LH 6FKZlQ]H GHU (FKVHQ VFKLHQHQ HLQHQ 2UNDQ ]X HQWIDFKHQ XQG EDOG ZDU GHU JUDXEUDXQH 0RUDVW EHU GHU .XQVWVWRIIGHFNH EHVlW PLW ,QVHNWHQJOLHGHUQ XQG ]HUVFKPHWWHUWHQ.|SIHQ 'HQQRFKZUGHDP(QGHGHU6LHJGHU7XOKVWHKHQ(VZDUHQLKUHU]XYLHOHXQGYRUGHPODXWORVHQ7RG GHQGLH+\SRB2UQDPHQWHDXILKUHQ7UDSH]IOJHOQVLJQDOLVLHUWHQJDEHVDXIGLH'DXHUNHLQ(QWNRPPHQ 'RFKVRZHLWVROOWHHVQDFKGHP:LOOHQGHVVHQGHUGLHVHQ.DPSIEHREDFKWHWHQLFKWNRPPHQ3O|W]OLFK HUVFKROOHQ DXV XQVLFKWEDUHQ 0HPEUDQHQ GXUFKGULQJHQGH ]LUSHQGH /DXWH (V ZDU DOV RE GLH LQ LKUHQ .DPSI YHUELVVHQHQ 7LHUH DXV HLQHP P|UGHULVFKHQ 7UDXP HUZDFKWHQ 'LH 7XOK HEHQ QRFK LQ LKUHP HLJHQWPOLFKHQ =LFN]DFNIOXJ DQ GHQ 5HLKHQ LKUHU *HJQHU YRUEHLWDXPHOQG IDOWHWHQ GLH GQQHQ 'HFNIOJHO EHU GLH 7RGHVPXVWHU KREHQ VLFK KRFK LQ GLH /XIW XQG IODWWHUWHQ GHU gIIQXQJ ]X DXV GHU VLH JHNRPPHQ ZDUHQ 'LH .UDDXVVIRUPLHUWHQVLFK]XHLQHP.HLOXQGIORJHQPLWNUDIWYROOHP)OJHOVFKODJ]XGHPVLFK|IIQHQGHQ6FKRWW DQGHU6WLUQVHLWHGHV5DXPHV'LHEHUOHEHQGHQ(FKVHQZlO]WHQVLFKVFKZHUIlOOLJGXUFKGHQ0RUDVWKLQEHU]X GHU6WHOOHZRGDVKRKHHLVHUQH*LWWHU]XU6HLWHJOLWWXQGGHQ:HJLQGHQ*DQJIUHLJDE 6FKRWWH |IIQHWHQ VLFK DQGHUH VFKORVVHQ VLFK 'LH IQI]LJ )X ODQJHQ JHVFKXSSWHQ 8QJHKHXHU IROJWHQ LKUHP/HLWWLHUGDVVLH]XUFN]XGHQ.lILJHQIKUWH 5RERWHUHUVFKLHQHQLQGHU$UHQD6LHIKUWHQ*HUlWH%DKUHQXQG6SH]LDOIDKU]HXJHPLWVLFK6LHQDKPHQ VLFKGHUYHUZXQGHWHQ7LHUHDQXQGVFKDIIWHQVLHDXVGHU+DOOH 'LH.XQVWVWRIIGHFNHXQWHUGHP6XPSIWHLOWHVLFK'LHEHLGHQ+lOIWHQQHLJWHQVLFKQDFKXQWHQ,UJHQGZR OLHIHQ*HQHUDWRUHQDQXQGYHUVRUJWHQGLH0DVFKLQHQPLW(QHUJLHGLHXQWHUWRVHQGHP/lUP6FKODPP:DVVHU .RW XQG 7LHUNDGDYHU LQ GLH $EIOXNDQlOH VDXJWHQ GLH ]X GHQ 6SH]LDOVFKOHXVHQ IKUWHQ 'DQQ |IIQHWHQ VLFK 'VHQXQGYRQYLHU6HLWHQ]XJOHLFKVFKRVVHQ:DVVHUXQG5HLQLJXQJVPLWWHOLQVFKDUIHP6WUDKOLQGLH+DOOH (LQH6WXQGHVSlWHUHULQQHUWHQLFKWVPHKUGDUDQGDLQGLHVHP5DXPNU]OLFKHLQP|UGHULVFKHU.DPSI VWDWWJHIXQGHQKDWWH 1LFKWV GHXWHWH DEHU DXFK GDUDXI KLQ GD GLH $UHQD LQ GHU YRQ =HLW ]X =HLW VROFKH 6FKODFKWHQ YHUDQVWDOWHW ZXUGHQ 7HLO HLQHV 5DXPVFKLIIHV ZDU GDV PLW KRKHU *HVFKZLQGLJNHLW VHLQHP =LHO LP :HOWDOO ]XUDVWH 'LHVHV=LHOZDUQXUHLQHP:HVHQDQ%RUGEHNDQQW &RUSNRUGHP.RSIMlJHU &RUSNRUHLQXQWHUVHW]WHUPXVNXO|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lQJHU JHZRUGHQ HLQ 6RQGHUOLQJ GHU YLHOOHLFKW QLH ZLHGHU VHLQHQ :HJ LQ GLH =LYLOLVDWLRQ ]XUFNILQGHQ ZUGH (U ZROOWH HV DXFK JDU QLFKW :lKUHQG GHU =HLW LQ GHU HU PLW LQWHOOLJHQWHQ :HVHQ ]XVDPPHQJHOHEW KDWWH KDWWHQ GLHVH LKP ZHQLJ *XWHV JHOHKUW (U YHUDFKWHWH VLH 6HOEVW MHQH LQ GHUHQ $XIWUDJHUGXUFKGLH*DOD[LVUHLVWHYHUPRFKWHQZHQQHUDQVLHGDFKWHNHLQHIUHXQGVFKDIWOLFKHQ*HIKOHLQLKP ZDFK]XUXIHQ,P*HJHQWHLO $XFK GHU QHXH ,PSHUDWRU PDFKWH GD NHLQH $XVQDKPH 6HLQHP 9RUJlQJHU *RQR]DO 9,,´ KDWWH HU &RUSNRU ZHQLJVWHQV HLQH JHZLVVH ZRKOZROOHQGH *OHLFKJOWLJNHLW JHJHQEHU JHZDKUW 'HU QHXH 0DQQ 2UEDQDVFKRO,,,´ZDUHLQH]ZLHOLFKWLJH3HUV|QOLFKNHLW(VNXUVLHUWHQJHZLVVH*HUFKWHGDUEHUGDHUEHLGHP -DJGXQIDOOVHLQHV%UXGHUV*RQR]DOVHLQH+DQGLP6SLHOJHKDEWKDWWH

&RUSNRU ZDUHQ GLHVH 'LQJH JOHLFKJOWLJ (U IKUWH VHLQHQ $XIWUDJ GXUFK XQG NDVVLHUWH GLH 3UlPLH 6ROOWHQVLFKDQGHUHGDUXPNPPHUQZDVDP+RIHGHVVHQJHVFKDKGHUDXIGHP7KURQGHV*URHQ,PSHULXPV VD &RUSNRUVDKDXIGHP6FKLUPZLHGLH6FKODFKWLQGHU7UDLQLQJVB$UHQDLQHLQHNULWLVFKH3KDVHWUDW'LH +\SQR)DOWHU ZDUHQ GHQ (FKVHQ XQG GHQ NOHLQHQ 5DXEY|JHOQ EHUOHJHQ 6HOEVW YHUHLQW NRQQWHQ .UDDXVV XQG 6DXULHU QLFKWV JHJHQ GLH 7XOK DXVULFKWHQ (V KlWWH VFKRQ GHV (LQVDW]HV DQGHUHU 7LHUDUWHQ EHGXUIW GDV *OHLFKJHZLFKWZLHGHUKHU]XVWHOOHQ'RFK HV KDWWHXQWHUGHQ.lPSIHQGHQ EHUHLWVJHQXJ9HUOXVWHJHJHEHQ'HU =ZHFN GHV .DPSIHV ZDU HV QLFKW GLH 7LHUDUWHQ ]X GH]LPLHUHQ VRQGHUQ VLH ]X WUDLQLHUHQ XQG WDNWLVFKH XQG VWUDWHJLVFKH0DQDKPHQ]XYHUEHVVHUQ (U GUFNWH HLQH 7DVWHQNRPELQDWLRQ DXI GHP JURHQ 6FKDOWSXOW YRU VLFK $XV GHP .RQWUROODXWVSUHFKHU GUDQJHLQH6HULHVFKULOOHU=LUSODXWH$XJHQEOLFNOLFKOLHHQGLH7LHUHYRQHLQDQGHUDEXQGQlKPHQ.XUVDXIGLH MHZHLOLJHQ$XVJlQJH$OVGDVOHW]WH5HSWLOGLH$UHQDYHUODVVHQKDWWHVFKDOWHWH&RUSNRUGHQ6FKLUPDE'DQQ GUFNWH HU HUQHXW HLQH 7DVWHQUHLKH 'LH HQWZLFNHOWHQ )LOPH GHU DXWRPDWLVFKHQ 6RIRUWB.DPHUDV ZUGHQ MHW]W GHP&RPSXWHUEHUJHEHQZHUGHQGHUVLHDQDO\VLHUHQXQGGDPLWGLH(LQVDW]BXQG.DPSISOlQHYHUYROOVWlQGLJHQ ZUGH &RUSNRUOlFKHOWHYHUlFKWOLFK(UYHUOLHVLFKOLHEHUDXIVHLQHQ,QVWLQNWXQGDXIVHLQHLPMDKU]HKQWHODQJHQ 8PJDQJ PLW GHQ 7LHUHQ HUZRUEHQH .HQQWQLV DOV DXI HLQH 0DVFKLQH 'HUHQ *UXQGSURJUDPP ZDU ]ZDU YRQ :LVVHQVFKDIWOHUQHQWZLFNHOWZRUGHQGLHVLFKLPWLHULVFKHQ9HUKDOWHQDXV]XNHQQHQJODXEWHQ :HU DEHU ZROOWH PLWLKPNRQNXUULHUHQPLW&RUSNRUGHPGLH=DPXFFVDXVGHU+DQGIUDHQXQGGHQGLH0RUGVFKXGHQDQLKUH %UXWOLHHQ &RUSNRU KDWWH QLFKWV JHJHQ SRVLWURQLVFKH *HUlWH ,P *HJHQWHLO GD HU ZlKUHQG GHV )OXJHV GXUFK GHQ :HOWUDXPYROOXQGJDQ]PLWVHLQHQ7LHUHQEHVFKlIWLJWZDUZDUHUDXIGLH$UEHLWGHU5HFKQHUDQJHZLHVHQ8QG DXFK GDQQ ZHQQ HU GDV =LHO VHLQHU 5HLVH HUUHLFKW KDWWH XQG HV DXI LUJHQGHLQHP 3ODQHWHQ ]XP (LQVDW] VHLQHU 7LHUDUPHHNDPZDUHVXQHUOlOLFKGD/DQGXQJ6WHXHUXQJXQG6WDUWGHV6FKLIIHVYROOURERWLVFKJHVFKDKHQ %LVKHUKDWWHHUVLFKLQGLHVHU+LQVLFKWDXIGLH0DVFKLQHQYHUODVVHQN|QQHQ8QGHVJDENHLQHQ*UXQG VLFKEHUVLHLQLUJHQGHLQHU:HLVH]XEHNODJHQ &RUSNRU EOLFNWH DXI GLH GUHLGLPHQVLRQDOH *UDSKLN GLH DXI HLQHP 0RQLWRU IOLPPHUWH 6LH VWHOOWH GDV ,QQHUH GHV VHFK]LJ 0HWHU GXUFKPHVVHQGHQ 5DXPVFKLIIV GDU (V EHVWDQG LQ GHU +DXSWVDFKH DXV *lQJHQ XQG .lILJHQGLHLQPHKUHUHQ6WRFNZHUNHQEHUHLQDQGHUDQJHOHJWZDUHQ'LH.lILJHKDWWHQPHLVWPHKUHUH6FKRWWH GLHDXIYHUVFKLHGHQH*lQJHKLQDXVIKUWHQXQGGLH*lQJHZLHGHUXPZDUHQWHLOZHLVHLQGHU$UWYRQ:HLFKHQ RGHU 'UHKVFKHLEHQ YHUVFKLHEEDU 'LH 0HFKDQLVPHQ GHU 7UHQ XQG *lQJHBZDUHQ DQ HLQH 3RVLWURQLN DQJHVFKORVVHQ 'HU 5HFKQHU ZDU YRQ HLQHU 7DVWDWXU DXV ]X EHGLHQHQ XQG GLH 9RUJlQJH GLH PDQ GXUFK VLH DXVO|VWHZXUGHQDXIGHU*UDSKLNVLFKWEDU 'LH 0RELOLWlW GHV *DQJV\VWHPV ZDU EHL GHU HQRUP JURHQ $Q]DKO GHU 7LHUH DXHURUGHQWOLFK ZLFKWLJ $XIGLHVH:HLVHNRQQWHEHUGLYHUVH6FKDOWXQJHQGDV/HEHQXQG7UHLEHQDOOHU7LHUHJHVWHXHUWZHUGHQ'XUFK HLQIDFKHQ 7DVWHQGUXFN NRQQWHQ YHUVFKLHGHQH 7LHUDUWHQ RGHU BIDPLOLHQ ]XVDPPHQJHEUDFKW ZHUGHQ 1LFKW DOOH 7LHUDUWHQYHUWUXJHQVLFKPLWHLQDQGHU]XPLQGHVWQLFKWRKQH&RUSNRUV*HJHQZDUW'DGHU.RSIMlJHUMHGRFKQLFKW EHUDOO]XJOHLFKVHLQNRQQWHZDUHQGLHSRVLWURQLVFKHQ6WHXHUXQJVPHFKDQLVPHQXQJHPHLQQW]OLFK $XFK GDV WlJOLFKH 7UDLQLQJ GLH 'UHVVXUB XQG 6FKXOXQJVYRUKDEHQ ZDUHQ DXI GLHVH :HLVH OHLFKWHU GXUFK]XIKUHQ+LHU]XJHK|UWHQDXFKGLH.lPSIHGLHDEXQG]XLQGHU$UHQDVWDWWIDQGHQ:HQQ&RUSNRUGLH HQWVSUHFKHQGHQ7LHUJUXSSHQDXVJHZlKOWKDWWHXQGVLHEHUGHQ&RPSXWHU]XU.DPSIVWlWWHVFKLFNWHEHREDFKWHWH HU DXI HLQHP 6FKLUP GDV *HVFKHKHQ 'XUFK HQWVSUHFKHQGH 6LJQDOH OHQNWH HU GHQ .DPSI XQG VWHXHUWH VHLQHQ $XVJDQJZLHHUHVIUULFKWLJKLHOW 'LH %HREDFKWXQJ XQG 6WHXHUXQJ GHU WLHULVFKHQ $XVHLQDQGHUVHW]XQJHQ GLHQWHQ QLFKW HWZD &RUSNRUV SHUV|QOLFKHP 9HUJQJHQ XQG VFKRQ JDU QLFKW GHU %HIULHGLJXQJ LUJHQGZHOFKHU VDGLVWLVFKHU 7ULHEH 'HU 7LHUElQGLJHUEHQXW]WHVLHYLHOPHKUDOV0LWWHOXPGLH6FKODJNUDIWVHLQHU3ULYDWDUPHHVWlQGLJDXIGHU+|KH]X KDOWHQXQGLKUH(LQVDW]P|JOLFKNHLWRSWLPDODXV]XQXW]HQ &RUSNRU ZDUI HLQHQ %OLFN DXI GHQ 2UWHUVFKLUP ,P =HQWUXP VWDQG GDV (FKR HLQHV 6WHUQV (V ZDU HLQH

NOHLQHQDPHQORVH6RQQHGLHYRQHLQHPHLQ]LJHQ3ODQHWHQXPNUHLVWZXUGH .UDXPRQ :UGHHUGRUWHLQHQGHU*HVXFKWHQILQGHQRGHUJDUEHLGH" (LQ%DXFKDXIVFKQHLGHUQDPHQV)DUWXORRQXQGGHU6RKQ*RQR]DOV9,,²GDVZDUHQGLHEHLGHQ0lQQHU GLH HU LP $XIWUDJ GHV ,PSHUDWRUV ILQGHQ VROOWH ,KUH (UJUHLIXQJ PXWH IU 2UEDQDVFKRO YRQ DXHURUGHQWOLFKHU %HGHXWXQJVHLQGHQQHUKDWWHKRKH3UlPLHQDXILKUH.|SIHDXVJHVHW]W (U &RUSNRU ZDU QLFKW GHU HLQ]LJH GHQ 2UEDQDVFKRO DXI GLH )lKUWH JHVHW]W KDWWH $XFK GHU %OLQGH 6RIJDUWPLWVHLQHQ.UDODVHQHQZDUKLQWHUGHQEHLGHQKHU'DVKDWWH&RUSNRUHUIDKUHQDOVHUDXI$UNRQ,QDFK 8QWHUODJHQ JHVXFKW KDWWH GLH LKQ DXI GLH 6SXU IKUHQ VROOWHQ 6RIJDUW VFKLHQ ELVKHU NHLQHQ (UIROJ JHKDEW ]X KDEHQ 'HU0DQQYRUGHP2UWHUVFKLUPYHU]RJVHLQ*HVLFKW]XHLQHU*ULPDVVH(UYHUDEVFKHXWHGLH0HWKRGHQ PLW GHQHQ GHU %OLQGH 6RIJDUW XQG VHLQH .UDODVHQHQ YRUJLQJHQ 6RIJDUW ZDU NHLQ -lJHU GHU ZLH &RUSNRU GHQ 0HQVFKHQIDQJ DXV -DJGOHLGHQVFKDIW EHWULHE 'HU %OLQGH ZDU HLQ HLVNDOWHU 9HUEUHFKHU HLQHU GHU VHLQH 2SIHU IROWHUWHXQGTXlOWH(UlKQHOWHHLQHU7DSSRJKB.DW]HGLHLKUH%HXWHILQJXPPLWLKUVRODQJH]XVSLHOHQELVGDV 2SIHU]XJUXQGHJLQJ &RUSNRU KLQJHJHQ OLHEWH GLH -DJG LQ DOOHQ LKUHQ 6SLHODUWHQ :DU GDV 2SIHU HLQPDO JHVWHOOW YHUORU HU VRJOHLFK MHJOLFKH /XVW DQ LKP 'LH %HXWH ZXUGH JHW|WHW NXU] XQG RKQH 8PVFKZHLIH RGHU VLH ZXUGH GHP $XIWUDJJHEHUEHUJHEHQMHQDFKGHPZLHGHU$XIWUDJODXWHWH 6HLQH$XIWUlJHKDWWHQLKQVFKRQTXHUGXUFKGLH*DOD[LVJHIKUW(UKDWWH/HEHZHVHQGHUYHUVFKLHGHQVWHQ $UWHQ JHMDJW VLH DXI ]DKOORVHQ 3ODQHWHQ LQ LKUHQ 6FKOXSIZLQNHOQ DXIJHVSUW XP VLH GDQQ PLW +LOIH VHLQHU 7LHUDUPHH]XEHNlPSIHQXQGVFKOLHOLFK]XEHVLHJHQ 'LHVPDOEHZHJWHVLFKVHLQ5DXPVFKLIILQGHU5DQG]RQHGHVJDODNWLVFKHQ=HQWUXPV'HU3ODQHWGHUGLH NOHLQHQDPHQORVH6RQQHGDYRULKPXPOLHIVFKLHQHLQHUGHUYLHU6WW]SXQNWH)DUWXORRQV]XVHLQ $OV HU DXI GHU .ULVWDOOZHOW QDFK GHQ 6SXUHQ GHV %DXFKDXIVFKQHLGHUV JHVXFKW KDWWH ZDUHQ LKP VFKOLHOLFKHLQLJH8QWHUODJHQLQGLH+lQGHJHIDOOHQGLHLKQDXIHLQH6SXUJHEUDFKWKDWWHQ0RQDWHODQJKDWWHHU VLFK YHUJHEOLFK DEJHPKW GLH JHKHLPQLVYROOHQ 6FKULIWHQ ]X HQWVFKOVVHOQ 6LH ZDUHQ LQ HLQHU XUDOWHQ 6FKULIW XQGLQHLQHP,GLRPDEJHIDWGDVLPJDQ]HQ,PSHULXPXQEHNDQQWZDU8QWHUGHU0LWKLOIHHLQHV6SUDFKBXQG 6FKULIWIRUVFKHUV ZDU HV LKP VFKOLHOLFK JHOXQJHQ ZHQLJVWHQV GLH XQJHIlKUHQ .RRUGLQDWHQ GHU 6WW]SXQNWH )DUWXORRQVKHUDXV]XILQGHQ $OV HU DXI VHLQHP²5HNRJQRV]LHUXQJVIOXJ GDQQ LQ GHU 1lKH YRQ .UDXPRQ NUHX]WH ZDU HLQ (UHLJQLV HLQJHWUHWHQGDVLKQYHUPXWHQOLHGDHUWDWVlFKOLFKDXIGHUULFKWLJHQ)lKUWHZDU 'LH,QVWUXPHQWHVHLQHV5DXPVFKLIIVKDWWHQHLQH([SORVLRQK\SHUHQHUJHWLVFKHU$UWDQJHPHVVHQGLHDXI .UDXPRQVWDWWJHIXQGHQKDEHQPXWH &RUSNRUHUKREVLFKHUJULIIHLQNOHLQHVRYDOHV*HUlWXQGYHUOLHGLH=HQWUDOH$XIGHP*DQJXPILQJHQ LKQ GLH YLHOIlOWLJHQ *HUFKH GHU 7LHUH (U EOLHE HLQHQ $XJHQEOLFN VWHKHQ XQG EHWUDW GDQQ GLH $XHQ]RQH GHV ]ZHLVWXILJHQ7UDQVSRUWEDQGV/DQJVDPJOLWWHUDQGHQODQJHQ5HLKHQGHU.lILJHYRUEHL +LHULQGHUXQPLWWHOEDUHQ1lKHGHU=HQWUDOHZDUHQGLHJURHQ5DXEZLUEHOWLHUHXQWHUJHEUDFKW(LQLJH GHU GLFNKlXWLJHQ =DPXFFV WURPSHWHWHQ KHLVHU DOV LKU +HUU DQ LKQHQ YRUEHUIXKU :HQQ PDQ VLH VR VDK GLH WRQQHQVFKZHUHQ.|USHUJHJHQGLH6WDKOJLWWHUVWlEHJHOHKQWNRQQWHPDQVLFKNDXPYRUVWHOOHQGDGLHVHWUlJHQ )OHLVFKNRORVVHVLFKVFKQHOOEHZHJHQNRQQWHQ$EHUGLH1DWXUKDWWHLKQHQDFKWVWlPPLJH%HLQHPLWJHJHEHQDXI GHQHQ VLH PLW HLQHU HUVWDXQOLFKHQ *HVFKZLQGLJNHLW EHU GLH KHLHQ +RFKVWHSSHQ LKUHV KHLPDWOLFKHQ 3ODQHWHQ UDVWHQ'LHGLFNH+DXWKDWWHQVLH]XP6FKXW]JHJHQLKUHQDWUOLFKHQ)HLQGHGLH5LHVHQLQVHNWHQJHELOGHWGLHLQ GHPIHXFKWKHLHQ.OLPD]XHLQHUIXUFKWEDUHQ3ODJHIUDOOHV/HEHQDXIGLHVHU:HOWJHZRUGHQZDUHQ %OXWKRUQLVVHQZXUGHQGLHVHJHQDQQWXQG&RUSNRUVJHKHLPQLVYROOHU*DEHZDUHVJHOXQJHQVHOEVWGLHVH JHIOJHOWHQ0|UGHU]X]lKPHQXQGIUVHLQH=ZHFNHHLQ]XVSDQQHQ6LHZXUGHQLQ6SH]LDONlILJHQLQHLQHPGHU XQWHUHQ6WRFNZHUNHJHKDOWHQXQGQXUXQWHUEHVRQGHUHQ9RUVLFKWVPDQDKPHQLP.DPSIHLQJHVHW]W 1DFK GHQ =DPXFFV NDPHQ GLH 6WHO]NDW]HQ 'HU .|USHU ZDU WURSIHQI|UPLJ +LQWHQ JLQJ HU IDVW XQPHUNOLFK LQ GHQ ODQJHQ EXVFKLJHQ 6FKZDQ] EHU YRUQ Z|OEWH HU VLFK ]X HLQHU PlFKWLJHQ WLHI

KHUDEJH]RJHQHQ %UXVW $XI LKUHQ VHFKV ODQJHQ JHVFKPHLGLJHQ %HLQHQ MDJWHQ VLH SIHLOVFKQHOO GXUFK GHQ WURSLVFKHQ5HJHQZDOG &RUSNRU JOLWW ZHLWHU YRUEHL DQ GHQ QLHGULJHQ .lILJHQ GHU YHUVFKLHGHQHQ 6FKXGHQB$UWHQ 'LH =ZHUJVFKXGHQYRP3ODQHWHQ%RV]QDJHElUGHWHQVLFKZLHWROODOVVLHLKUHQ0HLVWHUHUEOLFNWHQ6LHVSUDQJHQDQ GHQ *LWWHUVWlEHQ HPSRU XPNODPPHUWHQ VLH PLW LKUHQ .UDOOSIRWHQ XQG UWWHOWHQ GDUDQ 'DEHL ]HWHUWHQ VLH XQG VWLHHQGD]ZLVFKHQKHXOHQGH7|QHKHUYRU &RUSNRU DQWZRUWHWH LKQHQ DXI GLH JOHLFKH :HLVH :RUDXI DXFK GLH ZHLWHU KLQWHQ EHILQGOLFKHQ 7LHUH KHUEHLOLHIHQVLFK]ZLVFKHQGLHDQGHUHQGUlQJWHQXQGGHQ7LHUElQGLJHUEHJUWHQ 'LH -DJGB6FKXGHQ YRQ gSSlN 9,,, ZXUGHQ JHUDGH JHIWWHUW (LQ 7HLO GHU 5FNZDQG GHV .lILJV ZDU JH|IIQHW*URH0HQJHQURKHQ)OHLVFKHVJOLWWHQEHUGLH6FKUlJHGHU5DPSHXQGZXUGHQYRQGHQ5DXEWLHUHQ JLHULJYHUVFKOXQJHQ &RUSNRU JHODQJWH DQ HLQ VFKZHUHV 6FKRWW GDV GLHVHQ 7HLO GHV *DQJHV DEVFKOR (U VSUDQJ YRQ GHP 0RELOEDQGGDV]ZHL6FKULWWHZHLWHULQHLQHP%RGHQVFKOLW]YHUVFKZDQGKREGDVRYDOH*HUlWKRFKXQGGUHKWH PLWGHU5HFKWHQDQHLQHP.QRSI'DV6FKRWW|IIQHWHVLFK'HU$UNRQLGHVFKULWWKLQGXUFK (UEHIDQGVLFKMHW]WLQHLQHUTXDGUDWLVFKHQ.DPPHUYRQGHUDXVGUHLGXUFK7UHQYHUVFKORVVHQH*lQJH KLQZHJIKUWHQ 'HU OLQNH YHUOLHI VFKUlJ QDFK XQWHQ ]X GHQ %HKDXVXQJHQ GHU ,QVHNWHQ XQG 6SLQQHQWLHUH 'HU PLWWOHUHIKUWH]XGHQ5HSWLOLHQXQGGHUUHFKWH]XP,QQHQKRI &RUSNRU VFKOR GDV 6FKRWW GXUFK GDV HU VRHEHQ JHNRPPHQ ZDU XQG |IIQHWH ZLHGHUXP GXUFK )XQNEHIHKOGLHPLWWOHUH7U9RULKPODJGHUJHUlXPLJH³6DXULHUJDQJ´ 'LHVFKDUIHQ$XVGQVWXQJHQGHU5HSWLOLHQVFKOXJHQLKPHQWJHJHQDOVHUDXIHLQHPVFKPDOHQ0RELOEDQG VHLQH 5XQGIDKUW IRUWVHW]WH (LQLJH .lILJH ZDUHQ JH|IIQHW XQG &RUSNRU VDK ZLH VLFK HLQ SDDU EODXJOlQ]HQGH .HJHOVFKXSSHQB(FKVHQ YRUVLFKWLJ HLQHP ULHVLJHQ 6DXULHUYRP 3ODQHWHQ =\\O ,,, QlKHUWHQ GHU LKQHQ JHODVVHQ XQG RIIHQEDU IULHGOLFK HQWJHJHQEOLFNWH 'LH 7LHUH YHUPLHGHQ HV GHP 7UDQVSRUWEDQG DOO]X QDKH ]X NRPPHQ 'LHVHVZDUQlPOLFKGXUFKHLQHHOHNWULVFKH)HOGVSHUUHJHVFKW]W'DGXUFKZXUGHGLH*HIDKUXPJDQJHQGDHLQ 7LHUHWZDGDV%DQGJHUDGHGDQQEORFNLHUWHZHQQ&RUSNRUHVEHQXW]HQZROOWH

'HU 7LHUElQGLJHU SDVVLHUWH GLH 7LHUH XQG QlKHUWH VLFK GHP (QGH GHV *DQJHV DOV HLQ NODJHQGHU 7URPSHWHQWRQDQVHLQ2KUGUDQJ :HLR 'HU 0DQQ OlFKHOWH 9HUPLWWHOV HLQHV )XQNEHIHKOV DXV VHLQHP 0HKU]ZHFNJHUlW VFKDOWHWH HU IU HLQHQ$XJHQEOLFNGLH)HOGVSHUUHDXVXQGWUDWYRP%DQG(UZDUWHWH $XVHLQHPGHUKRKHQ.lILJHVSUDQJPLWHLQHPJHZDOWLJHQ6DW]GDV:HLRWRVWDQ(VVWUHFNWHZlKUHQGHV VLFKDXIGHQEHLGHQVWlPPLJHQ+LQWHUEHLQHQXQGGHP6SUXQJVFKZDQ]QDFKYRUQVFKQHOOWHGLHYHUNPPHUWHQ 9RUGHUEHLQHDXVXQGJULIIEOLW]VFKQHOO]X &RUSNRU IKOWH VLFK KRFKJHZLUEHOW (LQHQ NXU]HQ $XJHQEOLFN ODQJ KDWWH HU GLH (PSILQGXQJ QLFKW ]X ZLVVHQZDVREHQXQGXQWHQZDU'DQQVWDELOLVLHUWHVLFKVHLQ³)OXJ´XQGHUODQGHWHVDQIWDXIGHP5FNHQGHU JHZDOWLJHQ(FKVH $XVGHP5DFKHQPLWGHQGUHLIDFKHQ=DKQUHLKHQNDPHQ6HULHQYRQ*UXQ]BXQG6FKQDO]ODXWHQGLHVLFK DOOPlKOLFK]XGHP6DW]DUWLNXOLHUWHQ ³/DQJHJHZDUWHW´ 'HU7LHUElQGLJHUEOLFNWHDXIGHQPlFKWLJHQ+DOVGHUVLFKYRULKPHPSRUZ|OEWH6HLQHEHKDQGVFKXKWHQ )LQJHUXPNODPPHUWHQGLHOHLFKWDXIJHVWOSWHQ5lQGHUGHUURWEUDXQHQ6FKXSSHQ,QVHLQHP5FNHQVSUWHHUGLH JHVFKPHLGLJH6SLW]HGHV6FKZDQ]HVPLWGHUGHU6DXULHUVHLQHQ+HUUQVWW]WH ³:HLQ´VDJWHGHU0DQQ(UVSUDFKHVJXWWXUDODXVXQGJUXQ]WHGDEHL=lUWOLFKVFKOXJHUPLWGHU5HFKWHQ DXI GLH +DOVVFKXSSHQ 'DV :HLRWRVWDQ YHUILHO LQ HLQHQ ZLHJHQGHQ ]HLWOXSHQDUWLJHQ *DQJ (V VWLH HLQHQ NQDUUHQGHQ7URPSHWHQWRQDXVXQGGLH.HJHOVFKXSSHQB(FKVHQWUDPSHOWHQUHVSHNWYROO]XU6HLWH 'DV :HLRWRVWDQ ZDU KDOELQWHOOLJHQW (V VWDPPWH YRQ GHP 3ODQHWHQ (LGBG\ $XV GLHVHQ 7LHUHQ ZDUHQ

GRUWHLQVWLP/DXIHYRQ-DKUPLOOLRQHQLQWHOOLJHQWH:HVHQKHUYRUJHJDQJHQGLHVLFKVFKOLHOLFK]XUKHUUVFKHQGHQ $UWGHV3ODQHWHQDXIJHVFKZXQJHQKDWWHQ $OV&RUSNRUHLQVWLP$XIWUDJ*RQR]DOV9,,HLQH6SXUYHUIROJWHZDUHUQDFK(LGBG\JHNRPPHQ'RUW KDWWHHUGHQ*HVXFKWHQVFKOLHOLFKDXFKJHIXQGHQ'LHLQWHOOLJHQWHQ%HZRKQHUGHV3ODQHWHQKDWWHQLKPIUGLH -DJGHLQSDDUGHUYRQLKQHQJH]lKPWHQ+HUUHQWLHUHGHUVRJHQDQQWHQ:HLRWRVWDQV]XU9HUIJXQJJHVWHOOWPLW GHUHQ+LOIH&RUSNRUGHQ9HUEUHFKHUVFKOLHOLFK]XU6WUHFNHJHEUDFKWKDWWH (LQHVGLHVHU7LHUHKDWWHVLFKEHLGHU-DJGGXUFKVHLQH,QWHOOLJHQ]EHVRQGHUVKHUYRUJHWDQ&RUSNRUKDWWH HV QDFKGHP HU HLQH KEVFKH 6XPPH GDIU KDWWH EH]DKOHQ PVVHQ PLW DXI VHLQ 6FKLII JHQRPPHQ 'HP 7LHUElQGLJHU GHU HLQH JHUDGH]X SDUDSV\FKLVFKH %HJDEXQJ LP 8PJDQJ PLW 7LHUHQ EHVD ZDU HV QLFKW VFKZHUJHIDOOHQ GHQ HUZDFKHQGHQ ,QWHOOHNW GHU (FKVH ]X I|UGHUQ (U KDWWH ³:HLQV´ HLJHQWPOLFKH *UXQ]² 6FKQDO]BXQG.QDUUVSUDFKHVWXGLHUWXQGVLHLPWlJOLFKHQ'LDORJPLWGHP6DXULHUQRFKZHLWHUHQWZLFNHOW ³6WXGLHUW´ ZDU LQ GLHVHP =XVDPPHQKDQJ VLFKHU QLFKW GDV WUHIIHQGH :RUW &RUSNRU ZDU NHLQ 6SUDFKIRUVFKHU (U KDWWH LQ VHLQHP /HEHQ QLHPDOV HLQH6SUDFKHV\VWHPDWLVFKJHOHUQW'HQQRFKEHKHUUVFKWH HU HLQLJH +XQGHUW YHUVFKLHGHQHU 7LHUVSUDFKHQ YRQ GHQHQ HU QLFKW ZHQLJH VHOEVW ZHLWHUJHI|UGHUW XQG DXVJHEDXW KDWWH ,P/DXIHVHLQHVODQJHQ=XVDPPHQOHEHQVPLWGHQ7LHUHQKDWWHHUVLFKEHUGLHVHHLQLPPHQVHV:LVVHQ DQJHHLJQHWGDVMHGHU]HLWJUHLIEDUZDU6RZDUHVIULKQHLQH6HOEVWYHUVWlQGOLFKNHLWGDGLH6SUDFKHQGHU7LHUH VLFKQLFKWLP/DXWOLFKHQHUVFK|SIWHQ=XGHQGLYHUVHQ3IHLI²=LVFK²6FKQDO]²4XLHWVFK²*UXQ]²=LUSB XQG 6FKQDWWHUVSUDFKHQ WUDWHQ LP DNXVWLVFKHQ %HUHLFK UHLQ YRNDOLVFKH 9HUVWlQGLJXQJVZHLVHQ²ZREHL ELV ]X GUHLXQGVLHE]LJ 9RNDOQXDQFHQ YHUZHQGHW ZXUGHQ RGHU GLH 9HUVWlQGLJXQJ DXI QLFKWVWLPPOLFKH :HLVH EHLVSLHOVZHLVH GXUFK .ODSSHUQ RGHU 5DVVHOQ XQG VR ZHLWHU *OHLFKEHUHFKWLJW LP 7LHUUHLFK WUDW QHEHQ GLH HLJHQWOLFKH VSUDFKOLFKH .RPPXQLNDWLRQ MHGRFK QRFK GLH GHU *HVWLN GHU *HElGUH XQG GHU 0LPLN XQG YLHOH 7LHUDUWHQEHQXW]WHQPHKUHUHGLHVHUNRPPXQLNDWLYHQ0LWWHOQHEHQHLQDQGHUXPVLFK]XYHUVWlQGLJHQ &RUSNRUV WUDXPKDIWH 6LFKHUKHLW EHLP 8PJDQJ PLW MHJOLFKHP *HWLHU VHLQH XQDQWDVWEDUH 3RVLWLRQ DOV /HLWWLHUDOOHU7LHUDUWHQXQGBJUXSSHQVWDQGLQHLQHPXUVlFKOLFKHQ=XVDPPHQKDQJPLWGHU7DWVDFKHGDHUGLH WLHULVFKHQ 9HUVWlQGLJXQJVZHLVHQ LQ VROFKHU 9ROONRPPHQKHLW EHKHUUVFKWH 'LHV ZDU GLH HLQH WUDJHQGH .RPSRQHQWH'LHDQGHUHZDUVHLQH/LHEH]XP7LHU 'LHVH/LHEHVFKLHQLKPEHUHLWVPLWLQGLH:LHJHJHOHJWZRUGHQ]XVHLQ:HQQ&RUSNRU]XUFNGDFKWH NRQQWHHUVLFKDQNHLQH=HLWLQVHLQHPEHEHQHULQQHUQLQGHPHUQLFKWYRQ7LHUHQXPJHEHQJHZHVHQZDU 6HLQ 9DWHU ZDU HLQ EHNDQQWHU 7LHUSIOHJHU JHZHVHQ (U KDWWH GHQ -XQJHQ YRQ %HJLQQ DQ PLW DOOHP YHUWUDXW JHPDFKW ZDV PLW 7LHUSIOHJH XQG 7LHU]XFKW ]XVDPPHQKLQJ 6SlWHU KDWWH HU GHQ +HUDQZDFKVHQGHQ PLWJHQRPPHQ ZHQQ HU DXI IHUQHQ :HOWHQ VHOWHQH 7LHUH MDJWH XP GDPLW GHQ 7LHUEHVWDQG DXI GHP +HLPDWSODQHWHQ]XHUZHLWHUQ (V ZDU HLQH JOFNOLFKH =HLW JHZHVHQ 'LH JOFNOLFKVWH =HLW VHLQHV /HEHQV 6LH HQGHWH PLW GHP 7RG VHLQHV9DWHUV9RQGDDQKDWWHVHLQ/HEHQHLQHMlKH:HQGHJHQRPPHQ &RUSNRU HUZDFKWH DXV VHLQHQ *HGDQNHQ :HLR ZDU VWHKHQJHEOLHEHQ ³)UDJH KLQGXUFK"´ JUXQ]WH HU 'DEHLKlPPHUWHHUHLQLJH0DOHPLWVHLQHPKDUWHQ6FKlGHOJHJHQGDV6FKRWWGDVVLFK]XLKUHU5HFKWHQEHIDQG &RUSNRUJULQVWH'DV6FKRWWZDUGHU(LQJDQJ]XHLQHP.RUULGRUGHUVHLQHUVHLWVZLHGHU]XP,QQHQKRI IKUWH 'RUW ZDU XP GLHVH =HLW +RFKEHWULHE 7LHUH GHU YHUVFKLHGHQVWHQ *DWWXQJHQ EHZHJWHQ VLFK QDFK HLQHP EHVWLPPWHQ $XVZDKOSURJUDPP GRUW IUHL XPKHU 'DEHL NDP HV PDQFKPDO ]X VFKDUIHQ $XVHLQDQGHUVHW]XQJHQ GLH IU GLH %HWURIIHQHQ QLFKW XQJHIlKUOLFK ZDUHQ $OOHUGLQJV ZXUGH GLH 6]HQH VWlQGLJ YRQ GHU =HQWUDOH DXV SRVLWURQLVFKEHUZDFKWXQGMHGHUDXHUJHZ|KQOLFKH9RUIDOOZXUGH&RUSNRUVRIRUWSHU)XQNEHUPLWWHOW :HLR MHGHQIDOOV OLHEWH GLHVH 'XHOOH EHU DOOHV (U SIOHJWH GLH $XVHLQDQGHUVHW]XQJHQ PLW WURPSHWHQKDIWHP%HLIDOORGHU$QVSRUQ]XZU]HQ$XHUGHPKRIIWHHUVHLQH)UHXQGHGRUWYRU]XILQGHQ$\XDN GDV/\DXQNRB:HLEFKHQHLQHYLHU6FKULWWJURH+DPPHUVFKODQJHXQG7XWGHQ0HOGHYRJHO &RUSNRUVFKDOWHWHDQVHLQHP*HUlWXQGGDV6FKRWW|IIQHWHVLFK ³)HVWKDOWHQ´ VFKQDO]WH :HLR GUFNWH &RUSNRU VHLQHQ 6FKZDQ] IHVWHU LQ GHQ 5FNHQ XQG UDVWH PLW HLQJH]RJHQHP .RSI GXUFK GHQ QLHGULJHQ *DQJ :lKUHQG VLFK GHU 7LHUElQGLJHU YRUQ EHU QHLJWH XQG PLW GHU

5HFKWHQVLFKLQGLH+DOVVFKXSSHQGHU(FKVHYHUKDNWHGUFNWHHUPLWGHU/LQNHQHUQHXWHLQH7DVWHGHV*HUlWV GDVHULQ]ZLVFKHQDQVHLQHPEUHLWHQ*UWHOEHIHVWLJWKDWWH ,P QlFKVWHQ $XJHQEOLFN |IIQHWH VLFK GDV 6FKRWW YRU LKQHQ DP (QGH GHV *DQJHV XQG :HLR UDVWH LP JHVWUHFNWHQ*DORSSGXUFKGLHgIIQXQJ 6LHEHIDQGHQVLFKLPVRJHQDQQWHQ,QQHQKRI :lKUHQG :HLR VWHKHQEOLHE XQG VHLQH $QNXQIW PLW HLQHP ODXWHQ 7URPSHWHQVFKUHL VLJQDOLVLHUWH JOLWW &RUSNRUYRP5FNHQGHV6DXULHUV6HLQ%OLFNZDQGHUWHSUIHQGGXUFKGLHKRKH+DOOH 2EHQDQGHQNQVWOLFKHQ)HOVHQNOHEWHQGLH+DXWVHJOHUXQGlXJWHQVFKDUI]XLKPKHUDE'LHVHIXORVHQ 5DXEY|JHOVHJHOWHQODXWORVDXILKUH%HXWHKHUQLHGHUNOHEWHQVLFKPLWGHP6HNUHWGDVDXVGHQLQGHQ)OJHOQ YHUERUJHQHQ'UVHQWURIIDQLKUIHVWXQGULVVHQPLWVFKDUIHQ6FKQDEHOKLHEHQGLH+DOVVFKODJDGHUDXI $P)XGHU)HOVHQVRQQWHQVLFKHLQSDDUJHVFKXSSWH.ULHFKWLHUH7UlJHEOLFNWHQVLHEHUGHQ%DFKDXI GDVVWHSSHQDUWLJH8IHUKLQEHU'RUWWREWHHLQ5XGHO6FKXGHQKHUXP=ZHLYRQLKQHQYHUVXFKWHQHLQHULHVLJH 6FKOHXGHUVSLQQHYRQLKUHP5XKHSODW]]XYHUWUHLEHQ 'LH 6SLQQH HLQ ]Z|OIEHLQLJHV IXJURHV 0RQVWUXP ZHKUWH VLFK PLW (UIROJ 6LH IDEUL]LHUWH LQ %OLW]HVVFKQHOOHHLQGLFKWPDVFKLJHV1HW]XQGZDUIHVEHUHLQHVGHUJHLIHUQGHQ5DXEWLHUH 'HU6FKXGHKHXOWHDXIXQGELZLOGXPVLFK'RFKGDV1HW]ZLGHUVWDQGVHLQHQPHVVHUVFKDUIHQ=lKQHQ 8QGMHPHKUHU]DSSHOWHXPVRHQJHU]RJHQVLFKGLH0DVFKHQ]XVDPPHQ%DOGZDUDXVGHPEHEHQGHQ5DXEWLHU HLQIHVWYHUVFKQUWHVXQI|UPLJHV3DNHWJHZRUGHQ 'LH 6SLQQH KlWWH LKU 2SIHU YHUPXWOLFK OlQJVW GXUFK %LVVH XQG *LIWLQMHNWLRQHQ JHW|WHW $EHU VLH KDWWH GDPLW]XWXQVLFKGHQDQGHUHQ*HJQHUYRP/HLEH]XKDOWHQ,PPHUZHQQVLHVLFKLKUHU%HXWHQlKHUWHILHOVLH GDV.OHLQUDXEWLHUYRQKLQWHQDQXQGVFKQDSSWHPLWGHQ)DQJ]lKQHQQDFKLKUHQ%HLQHQ(VVFKLHQ]XZLVVHQGD HVHLQH:HLOHGDXHUWHELVGLH6SLQQHLQGHU/DJHZDUHLQQHXHV1HW]KHU]XVWHOOHQGHQQHVGUDQJIXUFKWORVDXI VLH HLQ XQG GLH 6SLQQH KDWWH HV QXU LKUHU XQJODXEOLFKHQ %HKHQGLJNHLW ]X YHUGDQNHQ GD VLH GHQ %LVVHQ GHU P|UGHULVFKHQ)lQJHLPPHUZLHGHUHQWJLQJ 'DQQZXUGHQLKUH%HZHJXQJHQODQJVDPHUVLHKDWWH]ZHLLKUHU%HLQHHLQJHEW6FKRQVDKHVVRDXVDOV RE VLH LKUHP )HLQG HQGJOWLJ HUOLHJHQ ZUGH 'RFK GLH 7RGHVIXUFKW PXWH GLH 7lWLJNHLW GHU 6SLQQGUVHQ YHUVWlUNWKDEHQ 'DV1HW]NDP:LHHLQHHLVHUQH.ODPPHUOHJWHHVVLFKEHUGLH)lQJHGHV6FKXGHQ'LH6SLQQHULFKWHWH VLFKDXIXQGQlKHUWHVLFKLKUHPYHU]ZHLIHOWXPVLFKVFKODJHQGHQ*HJQHU &RUSNRU VWHFNWH HLQHQ )LQJHU LQ GHQ 0XQG XQG VWLH HLQHQ GXUFKGULQJHQGHQ 3ILII DXV (V ZDU HLQ VHOWVDPHU7RQ(UVWLHJMlKLQGLH+|KHYHUKDUUWHHLQLJH$XJHQEOLFNHLQGHUVHOEHQ)UHTXHQ]XQGILHOGDQQLQ KDUWHP6WDNNDWRDXIGHQ*UXQGWRQ]XUFN 'LH .|SIH GHU DQZHVHQGHQ 7LHUH IXKUHQ KHUXP 6HOEVW LQ GLH WUlJHQ /HLEHU GHU 5HSWLOLHQ NDP %HZHJXQJ 6LH UHFNWHQ GLH JHVFKXSSWHQ +lOVH .UDFKHQG NODSSWHQ GLH .LHIHU ]XVDPPHQ (LQLJH +DXWVHJOHU VWDUWHWHQ]XHLQHPODXWORVHQ)OXJ'LH6FKXGHQDXIGHU6WHSSHXQWHUEUDFKHQLKUZLOGHV6SLHO 'LH6FKOHXGHUVSLQQHYHUKDUUWHPLWWHQLQGHU%HZHJXQJ'DQQPDFKWHVLHNHKUWXQGVWHO]WHDXIGHQ]HKQ JHVXQGHQ%HLQHQGDYRQ ³%HIUHLH VLH´ VFKQDO]WH &RUSNRU (LQ JHZDOWLJHU 6DW] EUDFKWH GDV :HLRWRVWDQ GRUW KLQ ZR GLH EHLGHQ 6FKXGHQ ZLQVHOQG DXI LKUH 5HWWXQJ ZDUWHWHQ =ZHLPDO IXKU GHU 6FKZDQ] GHU (FKVH KHUQLHGHU .OLUUHQG ]HUEDUVWHQGLH1HW]H8QYHUOHW]WVWDQGHQGLHEHLGHQ5DXEWLHUHDXIXQGGHKQWHQLKUH*OLHGHU /DQJVDPVFKULWW&RUSNRUGXUFKGDVEODXJUQH*UDVGHUIXKRKHQ6WHSSH$XVGHQ$XJHQZLQNHOQKHUDXV EHPHUNWHHUHLQHQ6FKDWWHQ'DQQYHUVSUWHHUHLQHQOHLFKWHQ'UXFNDXIVHLQHUOLQNHQ6FKXOWHU 7XW GHU 0HOGHYRJHO JXUUWH LKP LQV 2KU 'HU NOHLQH EXQWJHILHGHUWH .RSI ]XFNWH KLQ XQG KHU $OOPlKOLFK ZXUGH DXV GHP *XUUHQ HLQ .UlFK]HQ 'HU 6FKQDEHO ]ZLFNWH VDQIW GHQ +DOV GHV $UNRQLGHQ 'HU 0DQQJDEHLQSDDUEHUXKLJHQGH/DXWHYRQVLFKXQGVWULFKPLWVFKQHOOHU+DQGEHUGDV*HILHGHU 9RP +DXSWJDQJ GHU LQ GHQ ,QQHQKRI IKUWH K|UWH PDQ DXIJHUHJWHV *HVFKQDWWHU (V ZXUGH YRQ :HLR PLWKHOOHQ7URPSHWHQODXWHQEHDQWZRUWHW'DV/\DXQNRB:HLEFKHQNDPEOLW]VFKQHOOGXUFKGDV*UDVJHVFKRVVHQ (V VFKQDWWHUWH PLW GHQ /DXISODWWHQ ZREHL GLH YHUVFKLHGHQHQ 5K\WKPHQ YHUVFKLHGHQH $XVVDJHEHGHXWXQJHQ

KDWWHQ

=ZLVFKHQ GHU (FKVH XQG GHU +DPPHUVFKODQJH HQWVSDQQ VLFK HLQ VHOWVDPHU 'LDORJ &RUSNRU K|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lKOW EHL GHU GLH 0lQQFKHQ GLH (LHU DXVEUWHWHQ XQG LQ 6lXJHWLHUPDQLHUGLH-XQJHQJUR]RJHQ1RFKQLHKlWWHPDQHLQ:HLEFKHQJHVHKHQ &RUSNRUKDWWHEHUGLHVH(U]lKOXQJHQJHODFKWXQGVLHDOV5DXPIDKUHUJDUQDEJHWDQ'DQQKDWWHHUVLFK DXIGLH6XFKHQDFKGHQP\VWHUL|VHQ6FKODQJHQJHPDFKW $EHUHVKDWWHVLFKKHUDXVJHVWHOOWGDGLH%HULFKWHGHU.RORQLVWHQQLFKWDXVGHU/XIWJHJULIIHQZDUHQ(U ZDULQGHU7DW+XQGHUWHQYRQ/\DXQNRB0lQQFKHQEHJHJQHWRKQHHLQHLQ]LJHV:HLEFKHQJHVHKHQ]XKDEHQ 6FKRQJODXEWHHUGDGLH/\DXQNRB0lQQFKHQJDUNHLQH0lQQFKHQZDUHQVRQGHUQ]ZHLJHVFKOHFKWOLFKH 7LHUHGDHQWGHFNWHHULQHLQHUDEJHOHJHQHQ%RGHQK|KOHPLWWHQLPWLHIVWHQ'VFKXQJHOHLQH+DPPHUVFKODQJH GLH LQ *U|H XQG +DXW]HLFKQXQJ YRQ GHQ DQGHUHQ /\DXQNRV VWDUN DEZLFK =XQlFKVW KDWWH &RUSNRU JHJODXEW GD HV VLFK XP HLQH JDQ] DQGHUH $UW KDQGHOWH 2EZRKO GDV 7LHU XQJHPHLQ VFKHX ZDU ZDU HV &RUSNRU QLFKW VFKZHUJHIDOOHQ VLFK PLW LKP DQ]XIUHXQGHQ 'DEHL KDWWH HU DXFK IHVWJHVWHOOW GD GDV :HLEFKHQ ZHVHQWOLFK LQWHOOLJHQWHUZDUDOVVHLQHPlQQOLFKHQ$UWJHQRVVHQ 'D GLHV NHLQ =XIDOO ZDU KDWWH &RUSNRU EDOG HUIDKUHQ DOV HU LP /DXIH GHU QlFKVWHQ =HLW ZHLWHUHQ /\DXQNR:HLEFKHQEHJHJQHWH8QGDOOPlKOLFKOHUQWHHUDXFKGDVYROOVWlQGLJH*HKHLPQLVGLHVHUPHUNZUGLJHQ 7LHUDUWNHQQHQ 'LH/\DXQNRVZDUHQLQHLQHUHYROXWLRQlUHQ8PZDQGOXQJEHJULIIHQ$XVHLQHPXQHUNOlUOLFKHQ*UXQGH KHUDXV VWDUEHQ GLH ZHLEOLFKHQ 7LHUH DOOPlKOLFK DXV 'LH 6SH]LHV VFKLHQ VLFK DXI HLQH HLQJHVFKOHFKWOLFKH $UW XP]XVWHOOHQ GHUHQ (QGSURGXNW VLFK DXV GHQ PlQQOLFKHQ 6FKODQJHQ HQWZLFNHOWH 'LH EHUHLWV VHKU VHOWHQ JHZRUGHQHQ :HLEFKHQ JHZDQQHQ ]ZDU DQ ,QWHOOLJHQ] XQG /HEHQVHUZDUWXQJ ]DKOWHQ DEHU IU GLHVH (UUXQJHQVFKDIWHQHLQHQKRKHQ3UHLV 'LH8PVWHOOXQJGHU/\DXQNRVZDULQHLQLJHQ3XQNWHQEHUHLWVGHXWOLFK]XHUNHQQHQ'DZDUHLQPDOGLH hEHUQDKPHGHU%UXWWlWLJNHLWXQG$XI]XFKWGXUFKGLHPlQQOLFKHQ6FKODQJHQ=XJOHLFKHU=HLWKDWWHGLH1DWXU GHU VWDUNHQ 5HGX]LHUXQJ GHU ZHLEOLFKHQ .RPSRQHQWH GLHVHU $UW ZHLWJHKHQG 5HFKQXQJ JHWUDJHQ 'DPLW GHU ]DKOHQPlLJH%HVWDQGGHU6SH]LHVJHVLFKHUWEOLHEZXUGHGLH/HJHNDSD]LWlWGHU:HLEFKHQVWDUNHUZHLWHUW-HGHV /\DXQNR:HLEFKHQ SURGX]LHUWH LP /DXI VHLQHV /HEHQV ELV ]X ]HKQWDXVHQG (LHU 'LHVH OHJWH HV LQ JURH XQWHULUGLVFKH+|KOHQXQGOLHVLHGRUWOLHJHQ'DQQEHJDEHVVLFKDQGLH2EHUIOlFKHXQGYHUVWlQGLJWHGXUFKGLH FKDUDNWHULVWLVFKHQ.ODSSHUODXWHGLH0lQQFKHQ'LHVHNDPHQLQJURHU$Q]DKOXQGVFKOHSSWHQGLH(LHU]XGHQ %UXWSOlW]HQGLHVLHVHLWOlQJHUHU=HLWYRUEHUHLWHWKDWWHQ 6SlWHUVWLH&RUSNRUDXIHLQHGULWWH$UWYRQ/\DXQNRB6FKODQJHQ6LHZLHVHQHWZDGLHJOHLFKH*U|HDXI ZLH GLH 0lQQFKHQ 'RFK DOV &RUSNRU VLH QlKHU XQWHUVXFKWH VWHOOWH HU IHVW GD VLH 2UJDQH IU GLH HLQJHVFKOHFKWOLFKH)RUWSIODQ]XQJEHVDHQ 'DPLW KDWWH &RUSNRU GHQ OHW]WHQ %HZHLV GDIU HQWGHFNW GD GLH /\DXQNRV DXI 7DPPHUNDQJB8O WDWVlFKOLFKLP%HJULIIZDUHQGLH=ZHLJHVFKOHFKWOLFKNHLW]XYHUOLHUHQ $\XDN GDV /\DXQNRB:HLEFKHQ GHP HU ]XHUVW EHJHJQHW ZDU XQG PLW GHP LKQ OlQJVW HLQH HQJH )UHXQGVFKDIWYHUEDQGZDULKPDXIVHLQ5DXPVFKLIIJHIROJW 7XWGHU0HOGHYRJHOYHUOLHSO|W]OLFKVHLQH6FKXOWHUXQGIORJ]X$\XDNXQG:HLRKLQEHU(UXPNUHLVH GLHEHLGHQ5HSWLOLHQXQGILHONUlFK]HQGLQLKUH³8QWHUKDOWXQJ´HLQ7XWZDUJHZLVVHUPDHQGHU'ULWWHLP%XQG $OOHUGLQJVKDQGHOWHHVVLFKLQGLHVHP)DOOXPHLQHW\SLVFKH7LHUIUHXQGVFKDIW'LH9HUVWlQGLJXQJ]ZLVFKHQGHP 9RJHOXQGGHQEHLGHQ5HSWLOLHQEHUXKWHDXIHLQHUHPRWLRQDOHQXQGNHLQHULQWHOOHNWXHOOHQ%DVLV

&RUSNRUJLQJZHLWHU9RUEHLDQGHU5DJZXHB3DUGHQIDPLOLHXQGDQGHP&LQJNB7|WHUSDDUYRP3ODQHWHQ $WB&DQQ.XU]EHYRUHUGHQ,QQHQKRIYHUOLHVSUWHHU7XWZLHGHUDXIVHLQHU6FKXOWHU &RUSNRU EHWUDW GLH VRJHQDQQWH ³.OHLGHUNDPPHU´ +LHU EHIDQGHQ VLFK GLH 6FKXW]DQ]JH GHU ,VVFK¶DDV XQG3JH[GLHLQHLQHPWLHIHUJHOHJHQHQ6WRFNZHUNLQGHQ0HWKDQNlILJHQOHEWHQ &RUSNRUJLQJ]XP6FKDOWSXOWXQGGUFNWHHLQH7DVWH ,P +LQWHUJUXQG JOLWWHQ 3DQHOH ]XUFN XQG JDEHQ GHQ %OLFN IUHL DXI GLH ODQJHQ 5HLKHQ YRQ 5DXPNRPELQDWLRQHQGLHKLHUJHVWDIIHOWDQKRKHQ5HFNVKLQJHQ 'HU 7LHUElQGLJHU WUDW QDKH DQ GLH XQJHZ|KQOLFKH ³*DUGHUREH´ KHUDQ XQG OLH VHLQHQ %OLFN EHU GLH 6FKXW]DQ]JHZDQGHUQ9RUQDQKLQJHQGLH.RPELQDWLRQHQGHU3JH[6LHGHXWHWHQLQ)RUPXQG*U|HDXIGLH DUNRQLGRLGHQ)RUPHQGLHVHU0HWKDQDWPHUKLQ ,QGHQKLQWHUHQ5HLKHQHUEOLFNWHHUGLHULHVLJHQ$Q]JHGHU,VVFK¶DDV6LHKLQJHQGRSSHOWJHIDOWHWLQGHQ 6SH]LDOKDOWHUXQJHQXQGOLHHQGLH*U|HXQG8QI|UPLJNHLWGLHVHU$UWDKQHQ &RUSNRU QLFNWH JULPPLJ YRU VLFK KLQ :R GLH µ,VVFK¶DDV ]XP (LQVDW] NDPHQ GRUW ZXFKV LP EXFKVWlEOLFKHQ6LQQHGHV:RUWHV³NHLQ*UDVPHKU´ 'HU 7LHUElQGLJHU JLQJ ]XUFN ]XP 6FKDOWSXOW XQG NRQWUROOLHUWH GLH )XQNWLRQVIlKLJNHLW GHU $XVJDEHPHFKDQLVPHQ$OOHVZDULQ2UGQXQJ &RUSNRUEHJDEVLFKZLHGHUDXIGHQ.RUULGRUKLQDXV(UJLQJELV]XUQlFKVWHQ$E]ZHLJXQJXQGIXKUPLW GHP$QWLJUDYOLIWLQGDVWLHIHUJHOHJHQH6WRFNZHUN$OVHUDXIHLQHQVFKPDOHQ*DQJKLQDXVWUDWXPILQJLKQHLQ *HUlXVFK GDV VLFK ZLH GDV 7RVHQ HLQHV .RUSXVNXODUWULHEZHUNHV DQK|UWH 'RFK ZDU HV QLFKW VR PRQRWRQ (V VFKZROODQXQGDEYHUVWXPPWH]XZHLOHQIDVWJDQ]XPGDQQXPVRKHIWLJHUZLHGHUDXI]XEUDQGHQ 1HEHQ GHP *DQJ YHUOLHI HLQ HQJPDVFKLJHV *LWWHUZHUN (V EHVWDQG DXV HLVHUQHQ 6WDQJHQ GLH ELV ]XU 'HFNHUHLFKWHQ+LQWHUGLHVHP*LWWHUKLHOWHQVLFKGLHJHIlKUOLFKVWHQ0LWJOLHGHUGHU7LHUDUPHH&RUSNRUVDXI 'LH%OXWKRUQLVVHQ &RUSNRUEOLFNWHLQGHQ.lILJKLQHLQ 'LH ,QVHNWHQ VFKZlUPWHQ ,Q GLFKWHP 3XON XPIORJHQ VLH GHQ *LSIHO LKUHV :RKQIHOVHQV 'LH )OJHO URWLHUWHQ ZLH UDVHQG XP GHQ VFKLOOHUQGHQ JUQZHL JHVWUHLIWHQ .|USHU GHU ELV ]X HLQHP GUHLYLHUWHO )X ODQJ ZXUGH$XIGHP*LSIHOVHOEVWVDGLH.|QLJLQ,KUVFKODQNHUWRUSHGRJOHLFKHU/HLEKREVLFKGHXWOLFKJHJHQGHQ VWXPSIJUDXHQ6WHLQDE'LHULHVLJHQ)DFHWWHQDXJHQEOLFNWHQVWDUUZlKUHQGGLHDQWHQQHQJURHQ)KOHUDXIGHP .RSIXQDXIK|UOLFKLQ%HZHJXQJZDUHQ 'DV /LFKW GHU 'HFNHQVWUDKOHU GDV DXI GHQ HLVHQKDUWHQ &KLWLQSDQ]HUQ LUUOLFKWHUWH ZDU EODX 'LH %OXWKRUQLVVHQ HQWVWDPPWHQ GHP 3ODQHWHQV\VWHP HLQHV %ODXHQ 5LHVHQ 'DKHU UKUWH LKUH 9RUOLHEH IU EODXHV /LFKW 'DUDXV HUJDE VLFK DEHU DXFK GHU HLQ]LJH 1DFKWHLO GHU EHL HLQHP (LQVDW] GHU 5DXELQVHNWHQ DXIWUHWHQ NRQQWH /LFKW HLQHU OlQJHUHQ )UHTXHQ] EHHLQWUlFKWLJWH GDV 6HKYHUP|JHQ GHU 7LHUH :DUHQ VLH DXI HLQHP 3ODQHWHQ OlQJHUH =HLW JHOEHU RGHU JDU URWHU 6RQQHQHLQVWUDKOXQJ DXVJHVHW]W EWHQ VLH GDGXUFK DQ .DPSINUDIW HLQ 'LHVHV+DQGLNDSWUDWQRUPDOHUZHLVHMHGRFKHUVWQDFK6WXQGHQHLQ8QGGDQQZDUGHU.DPSIJHZ|KQOLFK OlQJVW ]XJXQVWHQ GHU JHIOJHOWHQ 5lXEHU HQWVFKLHGHQ *HJHQ GHQ $QJULII YRQ %OXWKRUQLVVHQ JDE HV NHLQH $EZHKU²ZHQQ PDQ QLFKW YRUEHUHLWHW ZDU 8QG VHOEVW 6WUDKOHQZDIIHQ ZDUHQ NHLQH VLFKHUH *DUDQWLH IU HLQH HUIROJUHLFKH 9HUWHLGLJXQJ 'LH 5DXELQVHNWHQ JULIIHQ PLW HLQHU *HVFKZLQGLJNHLW DQ GLH GLFKW XQWHUKDOE GHU 6FKDOOPDXHU ODJ 0LW GHQ VWDKOKDUWHQ =DQJHQ LKUHU 9RUGHUEHLQH KLHOWHQ VLH GDV 2SIHU IHVW XQG WULHEHQ EOLW]VFKQHOOGHQ%RKUVWDFKHOKLQHLQ'DV/lKPJLIWZLUNWHELQQHQ6HNXQGHQ0LWGHPODQJHQ5VVHOZXUGHGHP 2SIHUGDV%OXWDEJH]DSIW'LHVHVXQGGDV)OHLVFKZDUPEOWLJHU6lXJHWLHUHEHQ|WLJWHQGLH,QVHNWHQDOV1DKUXQJ IULKUH%UXW $XI LKUHU +HLPDWZHOW QLVWHWHQ GLH %OXWKRUQLVVHQ LQ )HOVK|KOHQ 6LH ELOGHWHQ .OHLQVWDDWHQ YRQ HLQLJHQ KXQGHUW,QGLYLGXHQGLHMHZHLOVYRQHLQHU.|QLJLQEHKHUUVFKWZXUGHQ &RUSNRU VSUWH ZLH 7XW XQUXKLJ ZXUGH DXI VHLQHU 6FKXOWHU 'HU 9RJHO ZUGH ZLH MHGHV DQGHUH 7LHU EHLP$QEOLFNGHU%OXWKRUQLVVHQOlQJVWLQSDQLVFKHU$QJVWGDV:HLWHJHVXFKWKDEHQ1XUGLH/LHEH]XVHLQHP +HUUQXQGGLHEHUXKLJHQGH.UDIWGLHYRQ&RUSNRUDXVJLQJKLHOWHQLKPDQVHLQHP3ODW]

'HU7LHUElQGLJHUWUDWGLFKWDQGHQ.lILJKHUDQ(UIRUPWHGLH+lQGHYRUGHP0XQGXQGVWLHGDQQHLQH 6HULHGXUFKGULQJHQGHU6XUUODXWHDXV1DFKGHPHUVLHZLHGHUKROWKDWWHlQGHUWHVLFKSO|W]OLFKGDV9HUKDOWHQGHU ,QVHNWHQ 'HU EHUZLHJHQGH 7HLO GHV 6FKZDUPV IORJ EUDXVHQG KLQZHJ XQG YHUVFKZDQG LQ GHU )HOVK|KOH ,P QlFKVWHQ $XJHQEOLFN HQWIDOWHWH GLH .|QLJLQ LKUH WUDQVSDUHQWHQ )OJHO XQG NDP EHJOHLWHW YRQ HLQHP 'XW]HQG :lFKWHUQ]XGHU6WHOOHKHUEHUJHIORJHQDQGHU&RUSNRUVLHHUZDUWHWH1RFKZlKUHQGGHV$QIOXJVVWUHFNWHVLH GLHVHFKVGLFKWEHKDDUWHQ%HLQHDXV'DQQODQGHWHVLHDQGHQ*LWWHUVWlEHQ,KUH$QWHQQHQIKOHUULFKWHWHQVLFKDXI GHQ0DQQhEHULKUYHUKDUUWHQGLH:lFKWHULP6WDQGIOXJ 'HU 9RJHO DXI &RUSNRUV 6FKXOWHU EHJDQQ ]X ]LWWHUQ 'HU 7LHUElQGLJHU VSUDFK HLQ SDDU EHUXKLJHQGH :RUWHXQGVWULFKPLWGHU+DQGEHU7XWV5FNHQ'DQQZDQGWHHUVLFKZLHGHUGHU.|QLJLQ]X 9RQGHQNHLOI|UPLJHQ=HOOHQGHUQDFKWVFKZDU]HQ)DFHWWHQDXJHQJLQJHLQH)UHPGKHLWDXVGLHQDPHQORVH 'URKXQJYRQHWZDV8QKHLPOLFKHPGDVQDFK&RUSNRUV%HZXWVHLQJULII 'HU %OLFN GHV 7LHUElQGLJHUV ERKUWH VLFK LQ GLH $XJHQ GHV ,QVHNWV VFKLHQ VLFK IU HLQHQ ]HLWORVHQ $XJHQEOLFNLQGHUDEJUQGLJHQ6FKZlU]H]XYHUOLHUHQ&RUSNRUVSUWHGHQIUHPGHQ:LOOHQGLH0DFKWGLHYRQ LKPDXVJLQJ'RFKVHLQHLJHQHU:LOOHZDUVWlUNHU 1DFKHLQHU:HLOHILQJHQGLH)KOHUDXIGHPPLWWOHUHQ.RSIULQJGHU.|QLJLQDQ]XYLEULHUHQ(LQ=LWWHUQ GXUFKUDQQ GHQ YLHOIDFK JHJOLHGHUWHQ .|USHU 'DQQ JOLWWHQ GLH 'HFNIOJHO DXVHLQDQGHU XQG KLQJHQ NUDIWORV ]X EHLGHQ6HLWHQGHV/HLEHVKHUDE ,PJOHLFKHQ0RPHQWWRUNHOWHQGLH:lFKWHU]X%RGHQ &RUSNRUODQJWHGXUFKGLHHLVHUQHQ0DVFKHQGHV.lILJVXQGVWULFKODQJVDPPLWGHQ)LQJHUVSLW]HQEHU GLHJUQZHLHQ%UXVWULQJHGHU.|QLJLQ 'DQQGUHKWHHUVLFKXPXQGJLQJ]XUFN]XP$QWLJUDYOLIW7XWDXIVHLQHU6FKXOWHUHUZDFKWHDXVVHLQHU (UVWDUUXQJ$OV&RUSNRUGHQ$XI]XJEHWUDWXQGGHQ6RJVSUWHK|UWHHUGLH+RUQLVVHQZLHGHUVFKZlUPHQ &RUSNRUIXKU]ZHL6WRFNZHUNHHPSRUXQGYHUOLHGHQ/LIWXPGLH*HKHJHGHU6WHSSHQB(ONKRVXQGGLH .lILJH GHU 6WHLQZUIH XQG )HOVNQDFNHU ]X LQVSL]LHUHQ 'D VXPPWH VHLQ )XQNJHUlW 'LH 5RERW]HQWUDOH ULHI DQ XQGPHOGHWH ³=LHOSODQHWRSWLVFKHUIDW3ODQHWIDOOLQDFKWXQG]ZDQ]LJ0LQXWHQ´ &RUSNRUEHJDEVLFKDXIGLUHNWHP:HJH]XU=HQWUDOHXPGHQ(LQVDW]YRU]XEHUHLWHQ :LUZDUHQQXQ]XIQIW)QIJHJHQHLQ,PSHULXP,FKVDKLQGLH*HVLFKWHUGHU)UHXQGHGLHJHVFKZRUHQ KDWWHQPLU]XPHLQHP5HFKW]XYHUKHOIHQNRVWHHVZDVHVZROOH 9LHU -DKUH ZDU LFK DOW JHZHVHQ DOV PHLQ 9DWHU *RQR]DO 9,,´ EHL HLQHP -DJGXQIDOO XPV /HEHQ JHNRPPHQZDU6HLWGHPVDVHLQ%UXGHU2UEDQDVFKRO,,,´DXIGHP7KURQGHV*URHQ,PSHULXPVXQGUHJLHUWH PLWHLVHUQHU+DQG'LH*HUFKWHGDHUEHLGHP7RGVHLQHV%UXGHUVPHLQHV9DWHUVGLH+DQGLP6SLHOHJHKDEW KDWWHZDUHQQLHYHUVWXPPW8QGGLHVH*HUFKWHZDUHQLQ]ZLVFKHQEHVWlWLJWZRUGHQ²EHVWlWLJWYRQ)DUWXORRQ PHLQHPYlWHUOLFKHQ)UHXQG /DQJH=HLWKDWWHLFKJHJODXEWHLQH9ROOZDLVH]XVHLQDXILUJHQGHLQH:HLVHDXIGHP3ODQHWHQ*RUWDYRU JHIXQGHQXQGYRQ)DUWXORRQDQ.LQGHVVWDWWDQJHQRPPHQ%LVLFKDXI/DUJDPHQLDGLH:DKUKHLWHUIDKUHQKDWWH ,FKZDUGHU.ULVWDOOSULQ]GHUUHFKWPlLJH1DFKIROJHUPHLQHVHUPRUGHWHQ9DWHUV,FKZUGHPLUPHLQ 5HFKWHUNlPSIHQXQGPHLQH)UHXQGHZUGHQPLUGDEHLKHOIHQ ,FKEOLFNWHLQGDV*HVLFKW7LUDNR*DPQRVGHUQHEHQPLUDUEHLWHWH'LHPHLVWHWZDVYHUWUlXPWHQ=JH KDWWHQ GHQ $XVGUXFN JU|WHU .RQ]HQWUDWLRQ DQJHQRPPHQ $XI GHU KRKHQ 6WLUQ SHUOWH GHU 6FKZHL (LQ VFKQHOOHVRIIHQHV/lFKHOQJOLWWEHUVHLQ*HVLFKWDOVHUPHLQHQ%OLFNEHPHUNWH'DQQYHUWLHIWHHUVLFKZLHGHULQ VHLQH$UEHLW :HLWHUKLQWHQVWDQG0RUYRQHU6SUDQJNXQGGLULJLHUWHPLWODXWHQ=XUXIHQGLH$UEHLWVURERWHU'HUNDKOH 6FKlGHO GHV QDKH]X VHFKVHLQKDOE )X JURHQ $UNRQLGHQ EHZHJWH VLFK ]ZLVFKHQ GHQ 0HWDOON|SIHQ GHU

0DVFKLQHQKLQXQGKHU'LH1DUEHQLQGHPKDUWHQ*HVLFKWZDUHQZLH&KLIIUHQ0DUNLHUXQJHQGLHGHU*URH 0HWKDQNULHJDQGLHVHPNDPSIHUSUREWHQ2IIL]LHUKLQWHUODVVHQKDWWH 'LH.DPSIHUIDKUXQJHQGHVDOWJHGLHQWHQ.RPPDQGDQWHQZUGHQPLUVRKRIIWHLFKHLQPDOYRQ1XW]HQ VHLQ -HQVHLWV GHU JURHQ KDOE]HUVW|UWHQ .XSSHO HUNDQQWH LFK GLH ]ZHUJHQKDIWH *HVWDOW (LVNUDOOHV 'HU &KUHWNRUIKOWHGLFKZRKOLQVHLQHU+DXW²ZHQLJVWHQVLP$XJHQEOLFN'DVZDUPH.OLPDGDVLQGLHVHQ%UHLWHQ KHUUVFKWHVFKLHQLKP]XEHKDJHQ(VIUDJWHVLFKQXUZLHODQJH" ,FKEOLFNWHPLFKXPZDUWHWHDXIGHQ0RQWDJHDXWRPDWHQ :LUKDWWHQQRFKHLQJHK|ULJHV6WFN$UEHLWYRUXQVELVGHU6WW]SXQNWZLHGHUYROONRPPHQLQ2UGQXQJ ZDU=XYLHOHVZDU]HUVW|UWZRUGHQ²QLFKWQXU*HElXGHVRQGHUQYRUDOOHPDXFKNRVWEDUH*HUlWH0DVFKLQHQ DXIGLHZLUDQJHZLHVHQZDUHQ 'LHV DOOHV NRVWHWH YLHO =HLW 9RQ 7DJ ]X 7DJ ZXFKV PHLQH 8QJHGXOG HQGOLFK JHJHQ PHLQH )HLQGH ORVVFKODJHQ ]X N|QQHQ ,PPHU ZLHGHU PXWH PLFK )DUWXORRQ EUHPVHQ ,PPHU ZLHGHU MHGRFK IJWH LFK PLFK GHP5DWGHV)UHXQGHV,FKZXWHQLFKW]XOHW]WGXUFKPHLQ([WUDKLUQGDHUUHFKWKDWWH1LFKWVZDULQGHU7DW YHUNHKUWHUDOVPHLQH*HJQHU]XXQWHUVFKlW]HQ8QGGRFKILHOPLUGDV:DUWHQVFKZHUJHQXJ 9RUPLUVHQNWHVLFKGHUULHVLJH$UPGHV0RQWDJHDXWRPDWHQKHUDE*HVSDQQWEHREDFKWHWHLFKZLHHUGLH PlFKWLJH6WDKOSODWWHLQGLH1XWHQGHU.XSSHOWUlJHU]ZlQJWH/DQJVDPPDQFKPDOHWZDVUXFNZHLVHQRFKJOLWW GLH :DQG GHP )XQGDPHQW HQWJHJHQ NDP LQ GHU 9HUWLHIXQJ ]XP 6WLOOVWDQG (OHNWURQLVFKH 6LJQDOH ZXUGHQ ]ZLVFKHQ GHQ 0DVFKLQHQ DXVJHWDXVFKW 'DQQ ]LVFKWH HV DXI DOV GLH DXWRPDWLVFKHQ +RFKGUXFNSUHVVHQ GLH $XVVSDUXQJLP)XQGDPHQWYRQ7UlJHU]X7UlJHUDXVJRVVHQ ,FK DWPHWH DXI 'DV .RPPXQLNDWLRQVV\VWHP ]ZLVFKHQ GHQ %DXDXWRPDWHQ ZDU ZLHGHU LQWDNW 'DV $UEHLWVSURJUDPP NRQQWH YROO DQODXIHQ ,Q GHQ HUVWHQ 7DJHQ QDFKGHP GHU .DPSI GHU *HLVWHUDUPHHQ EHHQGHW ZRUGHQ ZDU KDWWHQ HLQLJH YRQ XQV 7DJ XQG 1DFKW GDPLW YHUEUDFKW ]XQlFKVW HLQPDO GLH GHIHNWHQ 5HSDUDWXUURERWHUXQG0RQWDJHPDVFKLQHQZLHGHULQ2UGQXQJ]XEULQJHQ:lKUHQGGLHEULJHQLQGLHVHU=HLWLQ KDUWHPN|USHUOLFKHP(LQVDW]GLH$UEHLWGHU5RERWHUEHUQDKPHQ 'LH6FKZHUNUDIWDXI.UDXPRQZDUQXUJHULQJ6LHEHWUXJHWZD]ZHL'ULWWHOGHU*UDYLWDWLRQYRQ$UNRQ, 'HQQRFKNRQQWHQZLUQLFKWKRIIHQRKQHGLH0DVFKLQHQDXV]XNRPPHQ 0LW GLHVHQ *HGDQNHQ PDFKWH LFK PLFK DXI GHQ :HJ ]XU =HQWUDOH XP )DUWXORRQ DE]XO|VHQ GHU GRUW ZLHGHUHLQPDOVHLWYLHOHQ6WXQGHQDUEHLWHWH ,Q GLHVHP $XJHQEOLFN VFKULOOWH GHU $ODUP GXUFK GHQ 6WW]SXQNW ,FK UDQQWH ORV +LQWHU PLU K|UWH LFK *DPQR XQG 6SUDQJN ODXIHQ ZlKUHQG YRQ GHU DQGHUHQ 6HLWH KHU GHU &KUHWNRU DXI GHQ (LQJDQJ GHV +DXSWJHElXGHV]XHLOWH $OV LFK LQ GHU =HQWUDOH DQODQJWH HUEOLFNWH LFK )DUWXORRQ YRU GHP JURHQ 6FKLUP GHU )HUQRUWXQJ (U GUHKWHVLFKXPDOVHUXQVK|UWH ³(LQ 5DXPVFKLII´ VDJWH HU XQG ZLHV PLW GHU 5HFKWHQ DXI GHQ 5HIOH[ GHU VLFK ODQJVDP DXI GHQ 0LWWHOSXQNWGHV6FKLUPHV]XEHZHJWH ³6LQGVFKRQ:HUWHGD"´IUDJWHLFK )DUWXORRQ KRE GLH 6FKXOWHUQ ³1LFKW YLHO´ DQWZRUWHWH HU ³$UNRQLGLVFKH %DXDUW 'XUFKPHVVHU VHFK]LJ 0HWHU´ 'DV ZDU LQ GHU 7DW QLFKW YLHO 8QG HV VDJWH QLFKWV DXV EHU GLH $EVLFKW GHU %HVDW]XQJ ,FK EOLFNWH )DUWXORRQ DQ (U PDFKWH HLQ QDFKGHQNOLFKHV *HVLFKW ³(V NDQQ HLQ =XIDOO VHLQ´ VDJWH HU ]|JHUQG ³,FK QHKPHDQHVLVWHLQ6SH]LDOVFKLIIGDVQDFKGHUYHUVFKZXQGHQHQ$UPHHVXFKW´ ,FK GDFKWH EHU GLHVH :RUWH QDFK 9RU PHLQHP JHLVWLJHQ $XJH HQWVWDQGHQ QRFK HLQPDO GLH JHVSHQVWLVFKHQ6]HQHQGLHVLFKYRUHLQLJHU=HLWKLHUDEJHVSLHOWKDWWHQ$XVJHO|VWGXUFKGHQ(LQVDW]HLQHUQHXHQ K\SHUHQHUJHWLVFKHQ :DIIH GHU 0DDKNV ZDUHQ $UNRQLGHQ XQG 0DDKNV LQ GHQ =ZLVFKHQUDXP VRZLH LQ GHQ +\SHUUDXP KLQHLQJHULVVHQ ZRUGHQ XQG YRQ =HLW ]X =HLW DXI YHUVFKLHGHQHQ :HOWHQ LP 1RUPDOUDXP ZLHGHU YHUVWRIIOLFKW $XFK DXI .UDXPRQ ZDUHQ VLH PDWHULDOLVLHUW XQG KDWWHQ VLFK HLQHQ HUELWWHUWHQ XQG YHU]ZHLIHOWHQ .DPSIJHOLHIHUW

:lKUHQGLFKJHUDGHGDEHLJHZHVHQZDUHLQHQDUNRQLGLVFKHQ6ROGDWHQ]XYHUK|UHQZDULFKVHOEVWDXV GHP 1RUPDOUDXP JHULVVHQ ZRUGHQ XQG KDWWH HLQH =HLWODQJ XQWHU GHQ *HLVWHUDUPHHQ YHUEUDFKW HKH PLFK )DUWXORRQ GXUFK HLQH K\SHUHQHUJHWLVFKH ([SORVLRQ JHUHWWHW KDWWH 1HEHQ PLU ZDUHQ ]DKOUHLFKH $UNRQLGHQ XQG 0DDKNVHQGJOWLJYHUVWRIIOLFKW'HU.DPSI]ZLVFKHQGHQIHLQGOLFKHQ3DUWHLHQZDUZHLWHUJHJDQJHQXQGKDWWH]X 6FKlGHQDXIGHPJHVDPWHQ6WW]SXQNWJHIKUW ³'DV LVW JXW P|JOLFK´ PHOGHWH VLFK 0RUYRQHU 6SUDQJN ³'HQQRFK UDWH LFK ]XU 9RUVLFKW´ ,FK EOLFNWH GHQ.RPPDQGDQWHQDQ(UZDUGHUHLQ]LJHGHUGHQYHUKlQJQLVYROOHQ.DPSIDXI.UDXPRQEHUOHEWKDWWH ³:LUZHUGHQYRUVLFKWLJVHLQ.RPPDQGDQW´VDJWHLFK³=XQlFKVWGHQNHLFKZDUWHQZLUHLQPDODERE GDV5DXPVFKLIIKLHUODQGHWRGHUQLFKW´ )DUWXORRQ QLFNWH EHLIlOOLJ ³,Q GHU =ZLVFKHQ]HLW ZHUGHQ ZLU XQV YHUJHZLVVHUQ ZLHZHLW XQVHUH :DIIHQ ZLHGHUJHIHFKWVEHUHLWVLQG´

'HU 5RERWSLORW DUEHLWHWH DXI +RFKWRXUHQ 'DV 6FKLII ZDU LQ GLH GQQH $WPRVSKlUH .UDXPRQV HLQJHWDXFKW 'LH HLQNRPPHQGHQ :HUWH ZXUGHQ YRP %RUGUHFKQHU YHUDUEHLWHW XQG DXI 0RQLWRUHQ VLFKWEDU JHPDFKW &RUSNRU VWDUUWH DXI GHQ JURHQ %LOGVFKLUP GHU GLH $XIQDKPHQ GHU 7HOHRSWLN ZLHGHUJDE 'LH $WPRVSKlUHGHV3ODQHWHQZDUGQQDEHUGHU=XVDPPHQVHW]XQJQDFKJXWDWHPEDU'LH*UDYLWDWLRQVZHUWHZDUHQ YHUJOHLFKVZHLVH JHULQJ 'HU 7LHUElQGLJHU QLFNWH EHIULHGLJW ,Q GLHVHU +LQVLFKW ZUGH HV IU VHLQH 7LHUH NHLQH 6FKZLHULJNHLWHQJHEHQ 'LH /DQGVFKDIW VFKLHQ ]XP JU|WHQ 7HLO ZVWHQDUWLJ -HGRFK ZDU ELVKHU HUVW HLQ JHULQJHU 7HLO GHU 2EHUIOlFKHEHUIORJHQZRUGHQ 'LH)UDJHZDU%HVDGLHVHU)DUWXORRQWDWVlFKOLFKDXIGLHVHU:HOWHLQHQ6WW]SXQNW"8QGZHQQMDZR ZDUHU" 'LH%RUGSRVLWURQLNKDWWHDXI&RUSNRUV%HIHKOHLQHVSLUDOLJH8PODXIEDKQHUUHFKQHW$OOPlKOLFKYHUOLH GDV6FKLIIGLHQ|UGOLFKH=RQHXQGQlKHUWHVLFKGHQlTXDWRULDOHQ%UHLWHQ 'DV /DQGVFKDIWVELOG lQGHUWH VLFK DEUXSW %XVFKB XQG EDXPORVH 6WHSSHQ WDXFKWHQ DXI XQG ZHFKVHOWHQ PLW DXVJHGHKQWHQ :lOGHUQ 1DFK HLQHU :HLOH NDPHQ YRQ 6GHQ KHU +JHONHWWHQ WHLOZHLVH EHZDOGHW LQV %OLFNIHOG)OVVHVFKlXPWHQ]X7DOZDQGHQVLFKGXUFK6WHSSHQXQG:lOGHUµ 3O|W]OLFK UHJLVWULHUWHQ GLH ,QVWUXPHQWH HQHUJHWLVFKH (PLVVLRQHQ &RUSNRU ZDU KHOOZDFK 'LH 6WUXNWXUDQDO\VHOLHNHLQHQ=ZHLIHO(VKDQGHOWHVLFKXPGLH6WUHXVWUDKOXQJQXNOHDUHU.UDIWZHUNH :lKUHQGHUGHP$XWRSLORWHQEHIDKOVHLQ3URJUDPP]XXQWHUEUHFKHQXQGHWZDVQDFK6GHQDE]XGUHKHQ EHUOHJWH&RUSNRUGLHQlFKVWHQ6FKULWWH 'RUWZRVLFKGLH4XHOOHGHU(PLVVLRQHQEHIDQGZDUGHU6WW]SXQNW)DUWXORRQV6WW]SXQNWVRYLHOZDU NODU'DHUPLW$EZHKUZDIIHQEHVWFNWZDUZDUZDKUVFKHLQOLFK$OVRKLHHVYRUVLFKWLJVHLQ &RUSNRU OlFKHOWH (U KDWWH VHLQH HLJHQHQ 0HWKRGHQ (LQH GHU EHZlKUWHVWHQ ZDU GDV 9RUWlXVFKHQ HLQHV 7ULHEZHUNVFKDGHQV0DQPXWHHLQH1RWODQGXQJPDFKHQ 'DVKDWWHELVKHUQRFKLPPHUIXQNWLRQLHUW 'HU.RSIMlJHUJDEGHU%RUGSRVLWURQLNHLQHQHQWVSUHFKHQGHQ%HIHKO .XU]H=HLWGDQDFKVSUWHGHU0DQQZLHGDV6FKLII]XVFKOLQJHUQEHJDQQ'DV*UROOHQGHU7ULHEZHUNH ZDUXQUHJHOPlLJ)U6HNXQGHQVHW]WHHVJDQ]DXV'DQQILHOGDV6FKLIILQHLQHUVWHLOHP3DUDEHOQDFKXQWHQ ELVKHIWLJH3DUWLNHOVW|HVHLQH%DKQZLHGHUVWDELOLVLHUWHQ ³6LHZHUGHQ5RERWNDPHUDVVFKLFNHQ´PXUPHOWH&RUSNRU³(VPXHFKWDXVVHKHQ´ (UQHXWVSUDFKHULQGDV0LNURSKRQ ³5HSDUDWXUURERWHU PLW 'HVLQWHJUDWRUZHUN]HXJ HLQVHW]HQ 7ULHEZHUNVFKlGHQ PVVHQ DXHQ VLFKWEDU VHLQ´ &RUSNRU VFKDOWHWH DE XQG ZLGPHWH VLFK GHU /DQGVFKDIWVDXI]HLFKQXQJ (V JDOW HLQHQ JHHLJQHWHQ

/DQGHSODW]]XILQGHQGHUQLFKW]XQDKHDEHUDXFKQLFKW]XZHLWYRQGHPJHRUWHWHQ6WW]SXQNWHQWIHUQWZDU %DOGKDWWHHUJHIXQGHQZDVHUVXFKWH

hEHUGHQ%LOGVFKLUPWRUNHOWHGDVDUNRQLGLVFKH5DXPVFKLII 9RU HLQLJHU =HLW ZDU HV LQ .UDXPRQV $WPRVSKlUH HLQJHWDXFKW XQG KDWWH GHQ 3ODQHWHQ HLQ SDDUPDO XPNUHLVW(VKDWWH]XQlFKVWVRDXVJHVHKHQDOVVXFKWHGLH%HVDW]XQJHWZDV'LH6SLUDOEDKQLQGHUGDV6FKLIIGLH Q|UGOLFKHQ%UHLWHQXPIORJHQKDWWHOLHGDUDXIVFKOLHHQ$OOPlKOLFKKDWWHHVVLFKGHUbTXDWRU]RQHXQGGDPLW DXFKXQVHUHU6WDWLRQJHQlKHUW 8QGGDQQDOVHVQXUQRFKHWZD7DXVHQGVFKULWWYRQXQVHQWIHUQWZDUKDWWHHVSO|W]OLFKDQJHIDQJHQ ]XVFKOLQJHUQXQG]XWUXGHOQ'LH9LEUDWLRQVDQDO\VHKDWWHHUJHEHQ7ULHEZHUNVFKDGHQ (VIUDJWHVLFKQXUREHVVLFKXPHLQHQZLUNOLFKHQ'HIHNWKDQGHOWHRGHUXPHLQH7lXVFKXQJ 3O|W]OLFKNLSSWHGDV5DXPVFKLIIVWHLODEXQGILHOZLHHLQ6WHLQGHU2EHUIOlFKH.UDXPRQVHQWJHJHQ,FK KLHOWGHQ$WHPDQ:UGHHVDP%RGHQ]HUVFKHOOHQ",FKVDKZLH)DUWXORRQQHEHQPLUDXIGHQ6FKLUPVWDUUWH $XFKHUVFKLHQHUUHJW 'RFK GDQQ QXU HLQLJH +XQGHUWVFKULWW EHU GHP %RGHQ ILQJ GHU 3LORW GDV 6FKLII QRFK DE $XV GHQ %UHPVGVHQVFKRVVHQVRQQHQKHOOH3DUWLNHOVWU|PHXQGGLH%DKQGHV)OXJN|USHUVVWDELOLVLHUWHVLFKZLHGHU'RFK QXU IU NXU]H =HLW (LQHV RGHU PHKUHUH GHU 7ULHEZHUNH PXWHQ HUQHXW DXVJHIDOOHQ VHLQ 'DV 6FKLII 6FKR LQ HLQHP ZLOGHQ =LFN]DFNIOXJ GXUFK GLH /XIW XQG YHUORU GDEHL ZHLWHU DQ¶ +|KH 6FKOLHOLFK YHUVFKZDQG HV DXV GHP(UIDVVXQJVEHUHLFKXQVHUHU,QVWUXPHQWH ³'LH%HUJH³PXUPHOWH)DUWXORRQ ,FK ZXWH ZDV HU PHLQWH 'DV 5DXPVFKLII EHZHJWH VLFK LQ]ZLVFKHQ DXI HLQHU )OXJEDKQ GLH HV JHUDGHZHJV LQ GDV +RFKWDO IKUWHQ GDV HWZD 7DXVHQGVFKULWW YRQ KLHU HQWIHUQW ]ZLVFKHQ GHQ %HUJHQ HLQJHVFKORVVHQZDU'RUWZUGHHVYHUPXWOLFKDQGHQ%HUJZlQGHQ]HUVFKHOOHQ :HQQQLFKWQRFKHLQ:XQGHUJHVFKDKBLQ)RUPHLQHU1RWODQGXQJ 6HNXQGHQODQJKLHOWHQZLUGHQ$WHPDQZDUWHWHQDXIGLH([SORVLRQ1LFKWVJHVFKDK :LUVDKHQXQVDQ ³(LQH1RWODQGXQJ"´IUDJWH)DUWXORRQJHGHKQW ³:LUZHUGHQHVHUIDKUHQ´DQWZRUWHWHLFK ³-D´QLFNWH)DUWXORRQ³:LUZHUGHQ5RERWNDPHUDVDXVVHQGHQ´ ³,Q]ZLVFKHQZHUGHLFKPLFKYHUJHZLVVHUQREGLH.DPSIURERWHUHLQVDW]EHUHLWVLQG´ 'HU,QWHUNRPPHOGHWHVLFK$XIGHP%LOGVFKLUPHUVFKLHQGDVQDUELJH*HVLFKW6SUDQJNV ³'LH$EZHKUIRUWVVLQGVDPWXQGVRQGHUVDXHU*HIHFKW,FKKRIIHMHGRFKGDGHU6FKDGHQ]XEHKHEHQ VHLQZLUG´ ³6FK|Q.RPPDQGDQW´VDJWHLFK³YHUVXFKHQ6LH,KU%HVWHV´ ,QGHU+DOOHLQGHUVLFKGLH.DPSIURERWHUEHIDQGHQWUDILFKDXI7LUDNR*DPQRGHUEHUHLWVGDEHLZDU GLH)XQNWLRQVIlKLJNHLWGHU0DVFKLQHQ]XEHUSUIHQ ³:lKUHQGGHU$XVHLQDQGHUVHW]XQJPLWGHQ0DDKNVVLQG]LHPOLFKYLHOH]HUVW|UWZRUGHQ´VDJWHHUDOVHU PLFK HUEOLFNWH ³'LH 0DVFKLQHQ PLW GHQ OHLFKWHUHQ 'HIHNWHQ VLQG EHUHLWVUHSDULHUW ZRUGHQ 'LH 5HSDUDWXU GHU JU|HUHQ6FKlGHQJHKWQXUVHKUODQJVDPYRUDQGDQLFKWJHQJHQG5HSDUDWXUHLQKHLWHQYRUKDQGHQVLQG´ ,Q GHU +DOOH KHUUVFKWH UHJH %HWULHEVDPNHLW hEHU GLH 2V]LOORJUDSKHQ KXVFKWHQ GLH 0HLPSXOVH $XV ]DKOORVHQ0HPEUDQHQW|QWHQDNXVWLVFKH6LJQDOH5HODLVNOLFNWHQ'LH:HUN]HXJKlQGHGHU5HSDUDWXUDXWRPDWHQ ZDUHQXQDXIK|UOLFKLQ%HZHJXQJ 1HEHQ PLU VWDQG HLQ 5RERWHU GHVVHQ 5XPSISODWWH JH|IIQHW ZDU (LQ %OLFN ]HLJWH PLU GD GLH +DXSWVHUYRPHFKDQLNIHKOWH ³'LH 6HUYRPHFKDQLN ZLUG DXVJHWDXVFKW´ EHPHUNWH 7LUDNR GHU PHLQHP %OLFN JHIROJW ZDU ³'DQQ LVW GLHVHUZLHGHULQ2UGQXQJ´

,FKGDFKWHDQGDV6FKLIIGDVHLQH1RWODQGXQJJHPDFKWKDWWH ³9LHOOHLFKWZHUGHQZLUEDOGDXIGLH+LOIHGHU.DPSIURERWHUDQJHZLHVHQVHLQ´ 7LUDNRVDKPLFKHLQHQ$XJHQEOLFNODQJDQ'DQQZDQGWHHUVLFKZLHGHUVHLQHU$UEHLW]X³'XJODXEVW DOVRQLFKWGDHVVLFKXPHLQ6XFKVFKLIIKDQGHOW"´ ³,FK KDOWH HV VRJDU IU VHKU ZDKUVFKHLQOLFK 'LH )UDJH LVW QXU ZHQ GLH %HVDW]XQJ GHV 6FKLIIHV VXFKW )DUWXORRQKDW5RERWVSLRQHDXVJHVDQGW%DOGZHUGHQZLUPHKUZLVVHQ´ +RIIHQWOLFKPHOGHWHVLFKPHLQ([WUDKLUQ'DV,QQHUHGHV6FKLIIHVN|QQHQVLHQLFKWSKRWRJUDSKLHUHQ 'LHQlFKVWH=HLWYHUEUDFKWHLFKGDPLWGLH:DIIHQNDPPHUXQGGLH0XQLWLRQVODJHU]XEHUSUIHQ'DQQ PHOGHWHVLFK)DUWXORRQ'LH5RERWNDPHUDVZDUHQ]XUFNJHNHKUW :HQLJ VSlWHU ZDUHQ ZLU DOOH LQ GHU =HQWUDOH YHUVDPPHOW *HVSDQQW EOLFNWHQ ZLU DXI GHQ 3URMHNWLRQVVFKLUP 'LH HUVWHQ %LOGHU]HLJWHQGLH/DQGVFKDIWLQGHUGDVIUHPGH5DXPVFKLIIJHODQGHW ZDU (LQ ODQJJHVWUHFNWHV+RFKWDOGDVVLFKQDFK1RUGHQ]XVFKOXFKWlKQOLFKYHUHQJWH,P6GHQWUDWHQGLH%HUJHZHLWHU ]XUFN'RUWZDUHQVLHQXUVSlUOLFKEHZDFKVHQZlKUHQGDXIGHUDQGHUHQ6HLWHGLH%HZDOGXQJGLFKWHUZXUGH (LQ)OXKDWWHVLFKVHLQ%HWWLQGHQ)HOVHQJUXQGJHJUDEHQ.DWDUDNWDUWLJVWU]WHHU]X7DOXQGZDQGVLFKGDQQ QRUGZlUWVGXUFKGLH.RFKHEHQH $XIHLQHPIHOVLJHQ$XVOlXIHUDP1RUGDXVJDQJGHU6FKOXFKWQLFKWZHLWYRQGHPWUEHGDKLQIOLHHQGHQ :DVVHUGHV)OXVVHVHQWIHUQWVWDQGGDV5DXPVFKLII (LQDUNRQLGLVFKHV6FKLII(WZDVHFK]LJ0HWHULP'XUFKPHVVHU 'LHQlFKVWHQ$XIQDKPHQ]HLJWHQGDV6FKLIIDXVGHU1lKH/DQJVDPJOLWWGLH2SWLNGHU.DPHUDEHUGLH NXJHOI|UPLJH 2EHUIOlFKH 'DV JUDXH 0HWDOO EOLQNWH PDWW LQ GHQ 6WUDKOHQ YRQ .UDXPRQV 6RQQH 'LH /DQGHVWW]HQ NDPHQ LQ 6LFKW 6LH ZDUHQ GXUFK GLH ZHLFKHUHQ (UGVFKLFKWHQ JHGUXQJHQ XQG KDWWHQ DXI GHP IHOVLJHQ*UXQG+DOWJHIXQGHQ 'LH.DPHUDJOLWWZHLWHU'LHgIIQXQJHQGHU,PSXOVWULHEZHUNHZXUGHQ6LFKWElU8QGGDZDUHQSO|W]OLFK 5RERWHUBXQGHLQ0DQQ (LQ$UNRQLGHHWZDIQIHLQKDOE)XJURYRQXQWHUVHW]WHPPXVNXO|VHP.|USHUEDX$XIHLQHQ%OLFN NRQQWHPDQHUNHQQHQGDGLHVHU0DQQLQVHLQHP/HEHQYLHOXQGKDUWJHDUEHLWHWKDWWH 6HLQ$OWHUPRFKWHHWZDVHFK]LJ-DKUHEHWUDJHQ 6HLQ*HVLFKWZLUNWHGVWHUYHUVFKORVVHQXQGKDUWXQGDOVGLH7HOHRSWLNGDV%LOGQlKHUKHUDQKROWHVDK PDQ GHXWOLFK GD GLH XQWHUH *HVLFKWVKlOIWH YRQ 1DUEHQ HQWVWHOOW ZDU 6LH VFKLHQHQ )ROJHQ YRQ %UDQGYHUOHW]XQJHQ]XVHLQXQGQRFKQLHPDOVPLW%LRSODVWRGHUbKQOLFKHPEHKDQGHOWZRUGHQ ,FKK|UWHHLQHQKDOEODXWHQXQGHILQLHUEDUHQ$XVUXI7LUDNR*DPQRV'DQQVDJWH)DUWXORRQ ³(LQ$UNRQLGH:DVZLOOHUKLHU"´ ³(U EHDXIVLFKWLJW GLH 5RERWHU EHL GHU $UEHLW´ VWHOOWH 0RUYRQHU 6SUDQJN IHVW ³6LH UHSDULHUHQ HLQ 7ULHEZHUN´ 'DVZDUULFKWLJ'LH6FKlGHQZDUHQGHXWOLFK]XHUNHQQHQ0DQVDKJHERUVWHQH0lQWHOYRQ'VHQ'DV 0HWDOOGHU$XHQVFKDOHZDUDXIJHULVVHQZLHYRQHLQHU([SORVLRQXQGKDWWHVLFKQDFKDXHQDXIJHZ|OEW ³6LHKWDXVDOVREGDV6FKLIIXQWHU%HVFKXJHVWDQGHQKDW´PHLQWH(LVNUDOOH 9LHOOHLFKWKDWWHGHU&KUHWNRUUHFKWGDFKWHLFK'DQQZDUHVGRFKHLQH1RWODQGXQJ 9LHOOHLFKW%HGHQNHDEHUZLHJHVFKLFNWGHU/DQGHSODW]DXVJHVXFKWZXUGHPHOGHWHVLFKPHLQ([WUDVLQQ ³(LQLGHDOHU/DQGHSODW]´VDJWHLFKODXW³'DV6FKLIILVWYRQKLHUDXVGLUHNWQLFKWHLQ]XVHKHQ(VEHILQGHW VLFKMHGRFKQDKHJHQXJXPXQVXQWHU%HREDFKWXQJ]XQHKPHQ´ )DUWXORRQQLFNWH]XVWLPPHQG 9LHOOHLFKW´ VDJWH 7LUDNR JHGDQNHQYROO ³LVW GHU 0DQQ GRUW GUEHQ GDV HLQ]LJH RUJDQLVFKH :HVHQ DQ %RUG´

'LH5HSDUDWXUDUEHLWHQZDUHQEHHQGHW&RUSNRUVWDQGLQGHU6FKOHXVHQNDPPHUXQGZDUWHWHELVVLHVLFK ZLHGHUPLW/XIWJHIOOWKDWWH+LQWHULKPVWDQGHQGLH5RERWHU$XFKVLHPXWHQZDUWHQ=ZDUZDUHQVLHQLFKW ZLHHUDXI$WHPOXIWDQJHZLHVHQ'RFKGLH(LQBXQG$XVVFKOHXVXQJVSUR]HGXUEOLHEDXFKIUVLHGLHJOHLFKHZLH IUGHQ0DQQ$QGHUQIDOOVKlWWHHVLP,QQHUQGHV6FKLIIHVHLQHQSO|W]OLFKHQ'UXFNYHUOXVWJHJHEHQ 'DV =LVFKHQ DXV GHQ 2[\JHQGVHQ HUVWDUE (LQH .RQWUROODPSH OHXFKWHWH DXI 'DQQ |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lFKOLFKLQGHU6WDWLRQEHIDQGGLH7DXVHQGVFKULWWYRQKLHUHQWIHUQWLQMHQHP7DOVWDQG (V VFKLHQ &RUSNRU QLFKW PHKU ]ZHLIHOKDIW GD HU HLQHQ GHU 6WW]SXQNWH GHV %DXFKDXIVFKQHLGHUV JHIXQGHQKDWWH2EVLFK)DUWXORRQMHGRFKLP$XJHQEOLFNGRUWDXIKLHOWZDUHLQHDQGHUH)UDJH=ZDUNRQQWHPDQ DQQHKPHQGDVLFKRUJDQLVFKH:HVHQLQGHU6WDWLRQEHIDQGHQ'LH(QHUJLHHPLVVLRQHQGHXWHWHQGDUDXIKLQ(V NRQQWHQDEHUDXFK0lQQHUVHLQGLHPLW)DUWXORRQLQ9HUELQGXQJVWDQGHQRGHUDXILKQZDUWHWHQ ,Q GLHVHP )DOO ZUGH HU VHLQH 6WUDWHJLH lQGHUQ (U ZUGH HLQHQ RGHU PHKUHUH GHU 6WW]SXQNWLQVDVVHQ JHIDQJHQQHKPHQ ODVVHQ XQG VLH YHUK|UHQ (U PXWH XQWHU DOOHQ 8PVWlQGHQ KHUDXVEHNRPPHQ ZR )DUWXORRQ ZDU ,Q GHU =HQWUDOH IODPPWH HLQ %LOGVFKLUP DXI GHU ELVODQJ QLFKW HLQJHVFKDOWHW ZRUGHQ ZDU 'DV ZDU GDV =HLFKHQGDGLHHUVWHQ&OL]]]XUFNJHNHKUWZDUHQ =XUJOHLFKHQ=HLWZXUGHZLH&RUSNRUZXWHGHU3UR]HGHU,QIRUPDWLRQVDEJDEHHLQJHOHLWHW 'LH &OL]] VXSHUVFKQHOOH )OXJLQVHNWHQ GHUHQ *HVFKZLQGLJNHLW GLFKW DQ GHU 6FKDOOJUHQ]H ODJ ZXUGHQ EHUHLQH6SH]LDOVFKOHXVHGLUHNWLQV,QIRUPDWLRQVODERUJHOHLWHW'RUWZXUGHQLKQHQYRQEHVRQGHUVDXVJHUVWHWHQ 5RERWHUQ (OHNWURGHQ DQ GLH ,QVHNWHQN|SIH DQJHVFKORVVHQ hEHU GLHVH ZXUGHQ GLH YRQ GHQ )DFHWWHQDXJHQ DXIJHQRPPHQHQXQGLP*HKLUQJHVSHLFKHUWHQ%LOGHUDEJHUXIHQXQGDXIHLQHP%LOGVFKLUPVLFKWEDUJHPDFKW %LV ]X ]HKQ ,QVHNWHQ NRQQWHQ JOHLFK]HLWLJ DEJHIHUWLJW ZHUGHQ (LQ 5HFKQHU NODVVLIL]LHUWH GLH ,QIRUPDWLRQHQXQGOHLWHWHVLHLQHLQHUEHVWLPPWHQ5HLKHQIROJHGHP%LOGVFKLUP]X 'HU7LHUElQGLJHUZDUWHWHJHGXOGLJ1DFKHLQHU:HLOHHUVFKLHQHQGLHHUVWHQ%LOGHU 6LH]HLJWHQHLQVHOWVDPHV,QGLYLGXXP'HU*HVWDOWQDFKZDUHVHLQ0DQQ 'DV%HVRQGHUHDQGLHVHP:HVHQZDUMHGRFKGDVHLQH+DXWWUDQVSDUHQWZDU:LHHLQHJOlVHUQH+OOH XPVFKORVLHGDV,QQHUH9HQHQ0XVNHOIDVHUQ2UJDQHDOOHVZDUGHXWOLFK]XHUNHQQHQ )DV]LQLHUWEHWUDFKWHWH&RUSNRUGLH%LOGHUGHUHQ4XDOLWlWEHGLQJWGXUFKGLHRUJDQLVFKH+HUNXQIWXQGGLH 6WUXNWXUGHU)DFHWWHQDXJHQVWDUNVFKZDQNWH (LQ &KUHWNRU 'HU 7LHUElQGLJHU HULQQHUWH VLFK GXQNHO YRQ GLHVHQ :HVHQ JHK|UW ]X KDEHQ ,KUH JHIlKUOLFKVWHQ:DIIHQZDUHQLKUHHLJHQHQ+lQGH$OOHVZDVGLHVHXPVFKORVVHQHUVWDUUWH]X(LV 'LH 5DVWHUSXQNWH ZXUGHQ JU|EHU 'LH %LOGHU ZXUGHQ XQGHXWOLFKHU 6W|UXQJHQ WUDWHQ DXI 'DQQ IROJWHQ ODQGVFKDIWOLFKH ,QIRUPDWLRQHQ &RUSNRU HUNDQQWH GD GLH 6WDWLRQ VLFK LQ HLQHP YHUKlOWQLVPlLJ JURHQ 7DO EHIDQG,UJHQGZRZDQGVLFKHLQ)OXGXUFKJUQHV*UDVODQG:DOGZHFKVHOWHPLW%XVFKODQG'DV.OLPDZDU ZDUPGLH6FKZHUNUDIWJHULQJ ³(LQH,GHDOH/DQGVFKDIW´VDJWHGHU7LHUElQGLJHUODXW(VEHVWDQGNHLQH6FKZLHULJNHLWDXFKGLHJURHQ

7LHUHHLQ]XVHW]HQ $XIHLQLJHQ%LOGHUQZDUHQ%DXWHQGHV6WW]SXQNWHV]XHUNHQQHQ+RKHNXSSHODUWLJHXQGODQJJHVWUHFNWH IODFKH*HElXGH:LHYLHOHHVYRQLKQHQJDEZDUQRFKQLFKWIHVW]XVWHOOHQ*HQDXHUH,QIRUPDWLRQHQZUGHQHUVW GLH 'DGDQJV EULQJHQ 8QG HV ZUGH QRFK HLQH :HLOH GDXHUQ ELV GLH HUVWHQ GLHVHU ZLQ]LJHQ +DXWIOJOHU DQODQJWHQ 'DQQ VWLH &RUSNRU HLQHQ 3ILII DXV $XI GHP 6FKLUP IRUPLHUWH VLFK HLQH *HVWDOW GLH GHU .RSIMlJHU VRJOHLFKLGHQWLIL]LHUWH $XV HLQHP YHUEHXOWHQ DEJHZHW]WHQ %UXVWSDQ]HU LQ GHP VLFK .UDXPRQV 6RQQH VSLHJHOWH TXROOHQ HLQ 3DDUPLWJHZDOWLJHQ0XVNHOSDNHWHQEHVHW]WH$UPH'HU6FKlGHOZDUNDKOXQGHVVFKLHQDOVREGHUVFKZDU]H JHNUlXVHOWH9ROOEDUWHLQHQ$XVJOHLFKGD]XKDWWHELOGHQVROOHQ 'LH$XJHQKLQWHU)HWWZOVWHQYHUERUJHQOHXFKWHWHQJHOEOLFK $QGHU+IWHGHV0DQQHVBGLH%LOGHUVFKZDQNWHQ]ZLVFKHQ.RSIBXQG5XPSIELOGBZDUGHU.QDXIHLQHV DOWHQ%UHLWVFKZHUWV]XVHKHQ'HQ.QDXI]LHUWHHLQHVLOEHUQVFKLPPHUQGH)LJXUGHUHQ%HGHXWXQJXQP|JOLFK]X EHVWLPPHQZDU )DUWXORRQ (LQ =ZHLIHO ZDU DXVJHVFKORVVHQ &RUSNRU HULQQHUWH VLFK DQ GLH $EELOGXQJHQ GLH HU YRQ GHP %DXFKDXIVFKQHLGHUJHVHKHQKDWWH &RUSNRU KDWWH GLH 7DWVDFKH GD HU )DUWXORRQ JHIXQGHQ KDWWH NDXP YHUGDXW DOV HLQ ]ZHLWHV %LOG DXIWDXFKWHEHLGHVVHQ$QEOLFNLKQVHOWVDPH*HIKOHEHUNDPHQ 0HUNZUGLJMHOlQJHUHUGDV*HVLFKWEHWUDFKWHWHXPVRZHQLJHUNRQQWHHUVHKHQZRULQGLHbKQOLFKNHLW EHVWDQG]ZLVFKHQ9DWHUXQG6RKQ :DU HV GHU +DELWXV GHV MXQJHQ 0DQQHV ODJ HV DP $XVGUXFN GHU U|WOLFKHQ $XJHQ RGHU ZDU HV JDQ] HLQIDFK GLH 6XPPH LUJHQGZHOFKHU XQEHVWLPPEDUHU 'LQJH GLH LKQ XQYHUPLWWHOW LQ GLH 9HUJDQJHQKHLW ]XUFNYHUVHW]WHBLQGLH=HLW*RQR]DOV9,,µ 'LHVHUMXQJH0DQQPXWHVHLQ6RKQVHLQ hEHU&RUSNRUVGVWHUHV*HVLFKWIORJIU6HNXQGHQHLQKHOOHU6FKLPPHU'DV6FKLFNVDOVFKLHQHVJXWPLW LKP]XPHLQHQ *RQR]DOV6RKQXQG)DUWXORRQ$XILKUHQ.|SIHQODJHQGLHK|FKVWHQ3UlPLHQGLHLKPMHPDOVRIIHULHUW ZRUGHQZDUHQ(VODJDQLKPDOOHLQREHUGHU=XNXQIWPLWGHU*HODVVHQKHLWGHVUHLFKHQ0DQQHVHQWJHJHQVHKHQ NRQQWH´ :HLWHUH %LOGHU HUVFKLHQHQ ]HLJWHQ GD VLFK LQVJHVDPW PLQGHVWHQV IQI 3HUVRQHQ DXI GHP 6WW]SXQNW DXIKLHOWHQ'LH)UDJHREVLFKLP,QQHUQQRFKZHLWHUH0lQQHUEHIDQGHQNRQQWHQRFKQLFKWVLFKHUEHDQWZRUWHW ZHUGHQ 'LH UHVWOLFKHQ %LOGHU²HV ZDUHQ GXUFKZHJ :LHGHUKROXQJHQ RGHU (UJlQ]XQJHQ GHU EHUHLWV EHNDQQWHQ ,QIRUPDWLRQHQ²LQWHUHVVLHUWHQ&RUSNRUQLFKWPHKU(UHUKREVLFKDXVVHLQHP6HVVHOXQGWUDWDQGLH3RVLWURQLN XPGHQ(LQVDW]SODQ]XHQWZHUIHQ 'LH JHRJUDSKLVFKH XQG JHRORJLVFKH 6LWXDWLRQ ZDU NODU 6LH EHGHXWHWH NHLQHUOHL (LQVFKUlQNXQJHQ KLQVLFKWOLFKGHU9HUZHQGXQJEHVWLPPWHU7LHUDUWHQ 'LH 6WHLQZUIH XQG GLH )HOVNQDFNHU ZUGHQ GLH 9RUDUEHLW OHLVWHQ *HElXGH XQG LKUH )XQGDPHQWH ZUGHQLKQHQ]XP2SIHUIDOOHQ'DQQNDPGHU$QJULIIGHU6FKXGHQ(U]LHOWHDXIGLH0lQQHULQGHU6WDWLRQDE ,KQHQIROJWHGHU(LQVDW]GHU,QVHNWHQ9|JHOXQG*URWLHUH 'LHJHULQJH6FKZHUNUDIWZUGHVLFKYRUDOOHPEHLP(LQJUHLIHQGHU0HWKDQDWPHUYRUWHLOKDIWDXVZLUNHQ 'LH µ,VVFK¶DDV ZUGHQ ULHVLJHQ .DPSIPDVFKLQHQ JOHLFK DOOHV ]HUPDOPHQ ZDV LKQHQ LP :HJ VWDQG 6LH EHVDHQGDUEHUKLQDXVQRFKDQGHUH4XDOLWlWHQ'DVDUWVSH]LILVFKH9HUKDOWHQGHUµ,VVFK¶DDVZDU]XQlFKVWQLFKW DXI GDV 7|WHQ DXVJHULFKWHW 'LH LQWHOOLJHQWHQ 0HWKDQVlXJHWLHUH ZDUHQ HV YLHOPHKU JHZ|KQW GLH %HXWH ]X YHUVFKOHSSHQXQGVLHHLQH:HLOHDOV6NODYHQ]XKDOWHQ 'DUDXIJUQGHWHVLFK&RUSNRUV3ODQ(UZROOWH*RQR]DOV6RKQXQG)DUWXORRQOHEHQG =HQWUDOHU 3XQNW GHV .DPSIHV ZUGH :HLR VHLQ :lKUHQG HU &RUSNRU GDV *HVFKHKHQ YRQ KLHU DXV

EHUZDFKWHXQGVWHXHUWHZUGHGLHLQWHOOLJHQWH(FKVHDQ2UWXQG6WHOOHGLHVWUDWHJLVFKHQ%HZHJXQJHQGHU7LHUH OHQNHQ

'LH$UEHLWLP0XQLWLRQVGHSRWZDUDEJHVFKORVVHQ5HJLVWUDWXU$XVJDEHXQG0DJD]LQZDUHQEHUSUIW ,FK EHIDQG PLFK DXI GHP :HJ ]X YHUVFKLHGHQHQ *HElXGHQ XP IHVW]XVWHOOHQ ZLH ZHLW GLH 0RQWDJH GHU 7UDQVSRUWElQGHUXQGGLH,QVWDOODWLRQGHU$QWLJUDYOLIWVYRUDQJHVFKULWWHQZDU 8QWHUZHJVWUDILFKDXI6SUDQJNXQG(LVNUDOOH'HU&KUHWNRUKLHOWHLQKDOEIXODQJHVEHSHO]WHV7LHULQGHU +DQG$OVHUPLFKHUEOLFNWHULHIHU ³$OODX VFKDX GLU GLHVHV 7LHU DQ 1RFK QLH VDK LFK HLQHV GLHVHU $UW LQ GLHVHU *HJHQG ,Q GHQ lXHUHQ *HElXGHQVLQGPLQGHVWHQVHLQ'XW]HQGGDYRQ´ (U|IIQHWHGLH+DQGXQGGHUHUVWDUUVWH.DGDYHUILHO]X%RGHQ ³(V LVW HLQ 6WHLQZXUI YRP 3ODQHWHQ 6XOSSXQ´ HUNOlUWH 6SUDQJN ³,FK ZXWH QLFKW GD HV GLHVH 6WHLQQDJHUDXFKKLHUJLEW´ ,FK EHUOHJWH NXU] ³:LU ZROOHQ )DUWXORRQ IUDJHQ´ HQWVFKLHG LFK GDQQ ³(U NHQQW GLH 7LHUZHOW GLHVHV 3ODQHWHQ´ $EHU)DUWXORRQVFKWWHOWHGHQ.RSIDOVHUGDVWRWH7LHUHUEOLFNWH ³(LQ 6WHLQZXUI ³ VDJWH HU JHGHKQW ³:LH NRPPW GHU KLHUKHU" 8QG GX VDJWHVW GX KlWWHVW QRFK PHKUHUHJHVHKHQ"´ (LVNUDOOHQLFNWH³6RLVWHV´HUNOlUWHHUPLW%HVWLPPWKHLW :LU VDKHQ XQV DQ VXFKWHQ QDFK HLQHU (UNOlUXQJ IU GLH P\VWHUL|VH 7DWVDFKH .RQQWH HV VHLQ GD )DUWXORRQVLFKLUUWH" ³:lUHHVQLFKWP|JOLFKGDHVDXI.UDXPRQ7LHUHJLEWGLHDXFKGLUXQEHNDQQWVLQG"´IUDJWHLFK ,QGLHVHP$XJHQEOLFNWUDW7LUDNR*DPQRKHUHLQ$OVVLFKXQVHUH%OLFNHLKP]XZDQGWHQVDKHQZLUGD DXFKHUHLQWRWHV7LHUEHLVLFKKDWWH(LQ7LHUZLHLFKHVQRFKQLH]XYRUJHVHKHQKDWWH (V ZDU HWZD YRQ GHU JOHLFKHQ *U|H ZLH GHU :XUI XQG ZLH MHQHU WUXJ DXFK VHLQ .|USHU HLQH GLFKWH GXQNHOEUDXQH3HO]GHFNH'RFKGDPLWHQGHWHGLHbKQOLFKNHLW 'DV 7LHU EHVD HLQHQ EHUGLPHQVLRQDO JURHQ NXJHOUXQGHQ .RSI GHU GLFKW XQWHU GHQ $XJHQ LQ HLQH WULFKWHUI|UPLJH 6FKQDX]H EHUJLQJ 6LH ZDU ZHLW DXIJHULVVHQ XQG LFK NRQQWH GLH GUHLIDFK JHJHQHLQDQGHU YHUVHW]WHQ5HLKHQ]XP7HLOK|FKVWVHOWVDPJHIRUPWHU=lKQHVHKHQ 1HEHQ JHZ|KQOLFKHQ 5HLB XQG =HUNOHLQHUXQJV]lKQHQ JDE HV VROFKH GLH IDVW ZDDJHUHFKW DXV GHP 5DFKHQ KHUYRUVWDFKHQ 6LH VDKHQ DXV ZLH ]XJHVSLW]WH .HJHO XQG VFKLHQHQ GXUFK HLQH EHVRQGHUH 0XVNHODSSDUDWXUPLWGHP.LHIHUYHUEXQGHQ )DUWXORRQZDUIHLQHQNXU]HQ%OLFNDXIGHQ.DGDYHU(UKREGLH$XJHQEUDXHQXQGVDJWH ³(LQ )HOVNQDFNHU 9HUGDPPW :R NRPPW GHU KHU"´ 'DQQ VDK HU PLFK DQ XQG IJWH KLQ]X ³$XI .UDXPRQJLEWHVNHLQHHLQ]LJH7LHUDUWLQGLHVHU*U|HGLHPLUXQEHNDQQWLVW'LHVH7LHUHVLQGQLFKWYRQGLHVHP 3ODQHWHQ´ 7LUDNR*DPQROHJWHGHQ)HOVNQDFNHUDXIGHQ%RGHQ'DQQJLQJHU]XU5HLQLJXQJVQLVFKHXPVLFKGLH +lQGH]XVlXEHUQ 'DVDJWH)DUWXORRQ ³(VJLEWHLJHQWOLFKQXUHLQH(UNOlUXQJIUGDV9RUKDQGHQVHLQGHUIUHPGHQ7LHUHDXI.UDXPRQ´8QGDOV ZLULKQJHVSDQQWDQVDKHQIXKUHUIRUW³(VPXPLWGHQK\SHUHQHUJHWLVFKHQ9RUJlQJHQ]XVDPPHQKlQJHQGLH GXUFK GLH :DIIH GHU 0DDKNV DXVJHO|VW ZXUGHQ 6R ZLH $UNRQLGHQ XQG 0DDKNV GXUFK GHQ +\SHUUDXP JHVFKOHXGHUW ZXUGHQ XQG DXI GLHVHP 3ODQHWHQ PDWHULDOLVLHUWHQ JHQDXVR JHVFKDK HV PLW GHQ 7LHUHQ GLH VLFK JHUDGHLQGHUNULWLVFKHQ5HJLRQEHIDQGHQ´ :HQLJVSlWHUQDKPHQZLUXQVHUHXQWHUEURFKHQH$UEHLWZLHGHUDXI :lKUHQG LFK HLQHQ $QWLJUDYOLIW NRQWUROOLHUWH GDFKWH LFK EHU )DUWXORRQV :RUWH QDFK 6HLQH (UNOlUXQJ

VFKLHQPLUHLQOHXFKWHQG$EHUPHLQ([WUDKLUQZLGHUVSUDFK ,QHLQHPVROFKHQ)DOOZlUHQGLHVH7LHUHEHUHLWVIUKHUDXIJHWUHWHQ 'DV+HXOHQGHU$ODUPVLUHQHQXQWHUEUDFKPHLQHQLQQHUHQ'LDORJ (LQ6FKLUPIODPPWHDXI'DV*HVLFKW)DUWXORRQVIRUPWHVLFK ³'HU6WW]SXQNWZLUGYRQ7LHUHQLQJURHU=DKODQJHJULIIHQ6LHVWU|PHQYRQ1RUGZHVWHQXQG6GHQLQ GDV 7DO 7HLOH YRQ LKQHQ VLQG EHUHLWV LQ HLQLJH *HElXGH HLQJHGUXQJHQ 5RERWHU EHILQGHQ VLFK LP .DPSI PLW LKQHQ´ 'LH+DOOHLQGHULFKPLFKJHUDGHEHIDQGVWDQGHWZDVDEVHLWVLP:HVWHQGHU$QODJH,FKHUJULIIPHLQHQ 6WUDKOHUXQGUDQQWHGHQ.RUULGRUHQWODQJ$OVLFKDP(LQJDQJDQODQJWHERWVLFKPLUHLQSKDQWDVWLVFKHU$QEOLFN 7LHUHYHUVFKLHGHQVWHU$UWXQG*U|HVWU|PWHQYRQ1RUGZHVWHQKHULQGDV7DO )HOVNQDFNHU XQG 6WHLQZUIH PXWHQ HV VHLQ GLH LQ HLQLJH *HElXGH EHUHLWV HLQJHGUXQJHQ ZDUHQ ,FK K|UWHEHUVWHQGHOLQGSROWHUQGH*HUlXVFKH ,FKWUDWLQV)UHLHXPIHVW]XVWHOOHQZRKHUGHU/lUPNDP (LQ 5XGHO )HOVNQDFNHU GUDQJ DXI PLFK HLQ GLH 7ULFKWHUUDFKHQ DXIJHULVVHQ ,FK VFKOHXGHUWH HLQLJH YRQ LKQHQPLW)XWULWWHQ]XU6HLWH6LHTXLHNWHQVFKULOOUDSSHOWHQVLFKEOLW]VFKQHOOZLHGHUDXIUDQQWHQDQPLUYRUEHL XQGYHUVFKZDQGHQLP(LQJDQJGHU+DOOH 'LH7LHUHZUGHQJURHV8QKHLOLP,QQHUHQGHV*HElXGHVDQULFKWHQ(LQHQ$XJHQEOLFNEHUOHJWHLFKRE LFKLKQHQIROJHQXQGVLHYHUQLFKWHQVROOWH'RFKHVJDEDXIGHU6WDWLRQJHQJHQG*HElXGHGHUHQ(LQULFKWXQJHQ ZLFKWLJHUXQGZHUWYROOHUZDUHQDOVGLHVH+DOOH 'DV)DXFKHQYHUHLQ]HOWHU6FKVVHZDU]XK|UHQ'DQQJDQ]H6HULHQ 'DVGXPSIH*HUlXVFKHLQHU([SORVLRQGDVYRQGHU6HLWHNDPLQGHUGLH+DXSWJHElXGHVWDQGHQOHQNWH PHLQH$XIPHUNVDPNHLWLQGLHVH5LFKWXQJ ,FK VDK ZLH LQ GHU 6HLWHQZDQG HLQHV .XSSHOEDXV HLQ /RFK HQWVWDQGHQ ZDU GXUFK GDV LUJHQGZHOFKH 7UPPHUVWFNHIORJHQ'HU%RGHQYLEULHUWH7DXVHQGHYRQ%HLQHQWUDPSHOWHQEHULKQKLQZHJ (VZXUGH(UQVW ,FKHQWVLFKHUWHGLH:DIIHXQGOLHIORV$OVLFKXPGDV*HElXGHKHUXPERJEOLFNWHLFKPLFKXP $XFKYRQ6GHQKHUGUlQJWHQGLH/HLEHUGHU7LHUHLQEUHLWHQ:HOOHQKHUDQ8QGLQPLWWHQHLQHVGLFNHQ .OXPSHQVVWDQGHLQ0DQQXQGIHXHUWHSDXVHQORV 0RUYRQHU6SUDQJN 'HUDUNRQLGLVFKH.RPPDQGDQWZDULQGHU.OHPPH=ZDUULVHLQH6WUDKOHQZDIIHIXUFKWEDUH/FNHQLQ GLH5HLKHQGHU$QJUHLIHU'RFKVFKORVVHQVLFKGLHVHLPPHUZLHGHUXQGGLHKHUDQVWUPHQGHQ7LHUHEHGUlQJWHQ LKQVWlQGLJYRQQHXHP (VZDUHQ=ZHUJVFKXGHQ 'LHVH IXJURHQ 5DXEWLHUH ZDUHQ YRQ XQJODXEOLFKHU %HKHQGLJNHLW 6LH EHVDHQ PHKUHUH 5HLKHQ PHVVHUVFKDUIHU =lKQH XQG JULIIHQ PLW ZDKUHU 7RGHVYHUDFKWXQJ DQ 6FKRQ KDWWHQ VLFK HLQLJH YRQ LKQHQ LQ 6SUDQJNV .DPSIDQ]XJ YHUELVVHQ 6LH VFKUlQNWHQ VHLQH %HZHJXQJVIUHLKHLW HLQ XQG JDEHQ LKUHQ $UWJHQRVVHQ GDGXUFKJU|HUH$QJULIIVFKDQFHQ ,P+LQWHUJUXQGHUEOLFNWHLFKHLQLJHJU|HUH5DXEWLHUH(VZDUHQ6WHKNDW]HQ:HQQGLHVHSIHLOVFKQHOOHQ 7LHUHLQGHQ.DPSIHLQJULIIHQZUGHHVNULWLVFKIU6SUDQJNZHUGHQ ,FKVWHOOWHPHLQH:DIIHDXI6WUHXEHVFKXYLVLHUWHNXU]XQGGUFNWHDE 'HU 6WUDKOHQIlFKHU PlKWH HLQ 'XW]HQG 6FKXOHQ QLHGHU XQG VFKXI HLQH *DVVH 'HU HUIDKUHQH .RPPDQGDQW UHDJLHUWH DXJHQEOLFNOLFK 0LW ZHLWHQ 6lW]HQ EHUEUFNWH HU GHQ 5DXP GHU LKQ YRQ PLU WUHQQWH ZlKUHQGHUVLFKJOHLFK]HLWLJYRQGHQ5DXEWLHUHQEHIUHLWHGLHVLFKDQVHLQHP$Q]XJIHVWJHELVVHQKDWWHQ ³'DQNH´ NHXFKWH HU ³'LHVH YHUGDPPWHQ %LHVWHU :HQQ GLH 6WHO]NDW]HQ KHUDQJHNRPPHQ ZlUHQ LFK

ZHLQLFKW´ (LQH.HWWHYRQ'HWRQDWLRQHQULLKPGLH:RUWHYRUQ0XQG 8QVHUH.|SIHIXKUHQKHUXP 'DV*HElXGHYRUXQVILQJDQ]XZDFNHOQ4XDOPXQG'DPSIGUDQJHQGXUFKGLH(LQJDQJVWU'DQQJDE HVHLQODXWHVEHUVWHQGHV*HUlXVFKXQGXQWHUGRQQHUQGHP.UDFKHQEUDFKGLH)URQWZDQGDXVHLQDQGHU =LVFKHQGH'DPSIZRONHQGUDQJHQDXVGHP,QQHUQ6WLFKIODPPHQVFKOXJHQKHUDXV6WUDKOZDIIHQEOLW]WHQ DXI(LQSDDU.DPSIURERWHUHUVFKLHQHQDP(LQJDQJXPULQJWYRQ5DXEWLHUHQGHUHQVFKODQNH.|USHUYRQJHOEHQ XQGURVWEUDXQHQ)OHFNHQEHGHFNWZDUHQ ³5DJZXHB3DUGHQ´ VFKULH 6SUDQJN GXUFK GDV .DPSIJHW|VH (U ]LHOWH PLW VHLQHP 6WUDKOHU XQG VFKR HLQLJHGHU%HVWLHQDE ³:LUPVVHQ]XU=HQWUDOH´ULHILFK³'RUWEHILQGHQVLFKGLHZLFKWLJVWHQ*HUlWHXQGZLUZLVVHQQLFKW PLWZHOFKHU$UWBYRQ%HVWLHQHV)DUWXORRQGRUW]XWXQEHNRPPW´ 3O|W]OLFKZDUGLH/XIWYRQHLQHPGXUFKGULQJHQGHQ%UDXVHQHUIOOW,FKEOLFNWHQDFKREHQ'HU/XIWUDXP EHU .UDXPRQ ZDU LQ %HZHJXQJ JHUDWHQ 6FKZlUPH YRQ 9|JHOQ XQG DQGHUHQ )OXJWLHUHQ ZDUHQ DXIJHWDXFKW 9RQ1RUGZHVWHQKHUQlKHUWHVLFKHLQHVFKZDU]H:RONH,QVHNWHQVFKZlUPH 'LHVHU $QJULII ZDU RUJDQLVLHUW :HU VWHXHUWH LKQ" -HQHU 0DQQ GHQ ZLU DXI GHQ %LOGHUQ GHU 5RERWNDPHUDV JHVHKHQ KDWWHQ´ :DU HU GDV HLQ]LJH OHEHQGLJH :HVHQ DQ %RUG GHV JHODQGHWHQ 6FKLIIHV" :LU PXWHQGDV5DXPVFKLIIYHUQLFKWHQ6RVFKQHOOZLHP|JOLFK $OVLFKGDV)XQNJHUlWHLQVFKDOWHQZROOWHVSUDFKGHU6SUHFKHUDQ(VZDU)DUWXORRQ:lKUHQGHUVSUDFK K|UWHLFK6WUDKOVFKVVHXQGGDV.QDWWHUQNOHLQHUHU([SORVLRQHQ$OVRDXFKGRUWZXUGHEHUHLWVJHNlPSIW ³$WODQ ZR VHLG LKU" :LU EUDXFKHQ 8QWHUVWW]XQJ 6FKXOHQ +DPPHUVFKODQJHQ XQG 6SHLVSLQQHQ VLQG KLHUHLQJHGUXQJHQ'LH6SLQQHQKDEHQHLQHQ7HLOGHU.DPSIURERWHUPLWLKUHQ1HW]HQ]X3DNHWHQHLQJHVFKQUW 'LH6FKODQJHQ]HUTXHWVFKHQ0DVFKLQHQXQG*HUlWH*DPQR9HUGDPPW´(UXQWHUEUDFKVLFK,FKK|UWH HLQ KHOOHV 6LQJHQ 'DV 6NDUJ 'DQQ IXKU )DUWXORRQ NHXFKHQG IRUW´ *DPQR LVW LQ +DOOH YLHU HLQJHVFKORVVHQ (LVNUDOOHPHOGHWGDEHUHLWVPHKUHUH*HElXGHYHUORUHQJHJDQJHQVLQG³ ,FK VDK ZLH HLQH +HUGH =DPXFFV DXIWDXFKWH 'LH 'LFNKlXWHU YHUVSHUUWHQ PLU GLH 6LFKW DXI GDV +DXSWJHElXGH ³:LU ZHUGHQ XQV ]XU =HQWUDOH GXUFKNlPSIHQ´ YHUVSUDFK LFK ³:LU PVVHQ GDV JHODQGHWH 6FKLII ]HUVW|UHQ9RQGRUWNRPPWGHU$QJULII³ ³,FKZHUGH)OXJURERWHUHLQVHW]HQ%HHLOWHXFK(QGH´ $OV LFK GDV 0LNURSKRQ DXVVFKDOWHWH VSUWH LFK HLQ *HZLFKW DXI PHLQHU UHFKWHQ 6FKXOWHU 'DQQ HLQHQ 'UXFNDP5FNHQ$OVLFKGHQ.RSIGUHKWHVDKLFKHLQ.DOEIXJURHV)OHGHUWLHUGDVDQPHLQHP5DXPDQ]XJ NOHEWH,FKKDWWHVROFKH:HVHQVFKRQHLQPDOLQLUJHQGHLQHP]RRORJLVFKHQ3DUNJHVHKHQ(VZDUHQ+DXWIOJOHU 6LHEHVDHQNHLQH)HVRQGHUQKHIWHWHQVLHKPLWWHOVHLQHVNOHEULJHQ6HNUHWHVDQLKUHQ1LVWIHOVHQDEHUDXFKDQ LKUHQ%HXWHWLHUHQIHVW :lKUHQG LFK GDV 7LHU YRQ PHLQHU 6FKXOWHU UL VSUWH LFK ZLH HLQ ]ZHLWHU +DXWIOJOHU PLW GHP JHERJHQHQ6FKQDEHOLQPHLQHQ5FNHQKLHE'DQQZDU6SUDQJNQHEHQPLUXQGVFKOHXGHUWHGDV7LHU]X%RGHQ (LQVFKZLUUHQGHV*HUlXVFKEHUPLUOLHPLFKQDFKREHQEOLFNHQ .OHLQH XQVFKHLQEDUH 5DXEY|JHO YHUKDUUWHQ EHU PHLQHP .RSI LQ GHU /XIW ,KUH 5RWRUIOJHO NUHLVWHQ XQDXIK|UOLFKXPVLFKVHOEVW ³.UDDXVV´ULHI6SUDQJNDXV³6LHN|QQHQXQVQLFKWVDQKDEHQ,KU6FKQDEHOLVWJH]lKQWGRFKGULQJWHU QLFKWGXUFKGDV0DWHULDOXQVHUHU$Q]JH´µ :LULJQRULHUWHQGLH5DXEY|JHOXQGEOLFNWHQZLHGHU]XU+DXSWNXSSHOKLQEHU'LH=DPXFFVZDUHQDXI LKUHQDFKW%HLQHQGXUFKGDV7DOJHGRQQHUW6LHKDWWHQGDV7RUHLQHU/DJHUKDOOHHLQJHGUFNW-HW]WYHUZVWHWHQ VLH GDV LQQHUH :LU NRQQWHQ HV QLFKW YHUKLQGHUQ :LU PXWHQ XQEHGLQJW ]XU =HQWUDOH :HQQ VLH YHUORUHQJLQJ ZXUGHXQVHUH/DJHNULWLVFK$EJHVHKHQYRQGHQYHUKHHUHQGHQ6FKlGHQGHQGLHUDVHQGHQ7LHUHGRUWDQULFKWHWHQ ZUGHHVVFKZLHULJVHLQGLH$EZHKUPDQDKPHQ]XRUJDQLVLHUHQXQG]XNRRUGLQLHUHQ1RFKPXWH)DUWXORRQ GLHhEHUVLFKWKDEHQ$XIGHQ6FKLUPHQNRQQWHHUVHKHQZDVVLFKLQGHQHLQ]HOQHQ6HNWLRQHQGHV6WW]SXQNWV

DEVSLHOWH ,FK ZDU LP %HJULII ORV]XUHQQHQ DOV LFK HLQ VHOWVDPHV VFKDEHQGHV *HUlXVFK XQG JOHLFK]HLWLJ GHQ :DUQUXI6SUDQJNVK|UWH ,FKZDUIPLFKKHUXP =XVSlW(VJDEHLQH6HULHNOLUUHQGHU*HUlXVFKHDOVVLFKGDV1HW]GHU6FKOHXGHUVSLQQHEHUPLFKOHJWH 'HU 6WUDKOHU JOLWW PLU DXV GHU 5HFKWHQ UXWVFKWH GXUFK GLH 0DVFKHQ GHV1HW]HV KLQGXUFK XQG SROWHUWH DXI GHQ %RGHQ,Q6HNXQGHQVFKQHOOHVFKQUWHQPLUGLHVWDKOKDUWHQ)lGHQGHQ.|USHU]XVDPPHQ%HZHJXQJVXQIlKLJODJ LFKGDXQGVDKDXVGHQ$XJHQZLQNHOQHLQHQJURHQVFKZDU]HQ6FKDWWHQGHUVLFKPLUDXI]Z|OI%HLQHQQlKHUWH 9RUPLUHUVFKLHQGHUKlOLFKHEHKDDUWH.RSIGHV8QWLHUV ,FKK|UWHHLQVXUUHQGHV*HUlXVFK'HU.RSIGHU6SLQQH]XFNWH]XUFN'DQQOLHGHU'UXFNGHV1HW]HV QDFK 'LH )lGHQ ILHOHQ YRQ PLU DE hEHU PLFK JHEHXJW VWDQG 0RUYRQHU 6SUDQJN GDV 9LEUDWRUPHVVHU LQ GHU +DQG ,FKVSUDQJDXIXQGULHI³6FKQHOO]XU=HQWUDOHHKHHV]XVSlWLVW´ $EHUDOVLFK]XP+DXSWJHElXGHKLQEHUEOLFNWHHUKLHOWLFKHLQHQ6FKRFN =ZLVFKHQ XQVHUHP 6WDQGRUW XQG GHU JURHQ .XSSHO GUlQJWH VLFK HLQH +RUGH ULHVLJHU 5DXEHFKVHQ 6LH JHK|UWHQ YHUVFKLHGHQHQ $UWHQ DQ (LQLJH GHU ELV ]X VHFK]LJ )X PHVVHQGHQ 6DXULHU XQWHUVWW]WHQ GLH 6FKQHOONUDIWLKUHU+LQWHUEHLQHGXUFKEUHLWH6SUXQJVFKZlQ]H$QGHUHOLHHQLQLKUHQJH|IIQHWHQ5DFKHQPHKUHUH 5HLKHQ GROFKJURHU =lKQH VHKHQ :LHGHU DQGHUH WUXJHQ DXI LKUHP JHSDQ]HUWHQ 5FNHQ HLQH 'RSSHOUHLKH NHJHOI|UPLJHU6WDFKHOQ (LQHV GHU 8QWLHUH GHVVHQ GUHLHFNLJHU 6FKlGHO DXI HLQHP ELHJVDPHQ 6FKODQJHQKDOV VD KDWWH XQV HQWGHFNW (LQHQ $XJHQEOLFN VWDUUWH HV DXV VHLQHQ NOHLQHQ $XJHQ ]X XQV KHUEHU 'DQQ VWLH HV HLQHQ WURPSHWHQDUWLJHQ 6FKUHL DXV :RUDXI VLFK HLQ KDOEHV 'XW]HQG VHLQHU $UWJHQRVVHQ LQ XQVHUH 5LFKWXQJ LQ %HZHJXQJVHW]WH 6SUDQJNXQGLFKVFKRVVHQIDVWJOHLFK]HLWLJ'LHEHLGHQYRUGHUVWHQGHU$QJUHLIHUVWLHHQHLQXUZHOWOLFKHV *HEUOO DXV 6LH PDFKWHQ QRFK HLQHQ JHZDOWLJHQ 6DW] GHU VLH IDVW ELV ]X XQV KHUDQEUDFKWH 'DQQ EUDFKHQ VLH ]XVDPPHQ 1RFKZlKUHQGVLHU|FKHOQGYHUHQGHWHQKDWWHQZLUGLHQlFKVWHQGHU%HVWLHQDXIV.RUQJHQRPPHQ,FK GUFNWHDEXQGDOVLFKVDKGDLFKZLHGHUJHWURIIHQKDWWHZDUILFKHLQHQVFKQHOOHQ%OLFNKLQWHUPLFK0HLQH %HIUFKWXQJ HUZLHV VLFK DOV ULFKWLJ 6HOEVW ZHQQ ZLU PLW GHQ (FKVHQ IHUWLJZHUGHQ ZUGHQ XQVHUH 6WHOOXQJ NRQQWHQZLUQLFKWKDOWHQJHVFKZHLJHGHQQ]XU=HQWUDOHYRUVWRHQ9RQKLQWHQQlKHUWHQVLFKVFKQHOOH5DXEWLHUH ,Q.U]HZDUHQZLUHLQJHNUHLVW $XVGHU/DJHUKDOOHUHFKWVKLQWHUXQVGUDQJHQGLH*HUlXVFKHYRQ([SORVLRQHQ'RUWEHIDQGHQVLFKZLH LFK ZXWH (QHUJLHSURMHNWRUHQ XQG DQGHUHV ZHUWYROOHV HOHNWURQLVFKHV *HUlW 9LHOOHLFKW NRQQWHQ ZLU GLHVHV ZHQLJVWHQVYRUGHU9HUQLFKWXQJEHZDKUHQ ³6SUDQJN´ULHILFKGHP.RPPDQGDQWHQ]X³ZLUPVVHQLQGLH/DJHUKDOOH+LHUNRPPHQZLUMHW]WQLFKW GXUFK´ ,FK HUOHJWH QRFK HLQHQ GHU 6DXULHU GUHKWH PLFK XP XQG VWUPWH LQ ZHLWHQ 6lW]HQ ]XP (LQJDQJ GHV IODFKHQ*HElXGHV'HU.RPPDQGDQWIROJWHPLUDXIGHP)XH ,P,QQHUQGHU+DOOHKHUUVFKWH+DOEGXQNHO'DV/LFKWZDUDXVJHIDOOHQ1XUGLH1RWEHOHXFKWXQJEUDQQWH $XV GHP QlFKVWHQ 5DXP W|QWHQ OlUPHQGH *HUlXVFKH VFKZHUHV 3ROWHUQ 'U|KQHQ XQG .OLUUHQ YRQ EHUVWHQGHP*ODV,FKVWU]WHKLQHLQGHQ6WUDKOHUVFKXEHUHLW (LQULHVLJHU=DPXFFZDUTXHUGXUFKGHQ5DXPJHWUDPSHOWKDWWHGDV6FKDOWSXOW]HUPDOPWXQGZDULUU %HJULIIGLHLQGLH:lQGHHLQJHEDXWHQ5HJDOH]X]HUWUPPHUQ =ZLVFKHQ GHQ DFKW %HLQHQ GHV 'LFNKlXWHUV KXVFKWHQ 6WHLQQDJHU KLQ XQG KHU =XP HUVWHQPDO VDK LFK HLQHQ)HOVNQDFNHUEHLGHU$UEHLW 'DV 7LHU VWHPPWH VLFK PLW VHLQHQ NXU]HQ %HLQHQ DXI GHQ %RGHQ XQG GUFNWH GHQ .XJHONRSI PLW JH|IIQHWHP 7ULFKWHUUDFKHQ JHJHQ GLH :DQG LFK K|UWH HLQ PDKOHQGHV *HUlXVFK XQG VDK ZLH VLFK GLH ZDDJHUHFKWHQ=lKQHLQGLH:DQGERKUWHQXQG]XURWLHUHQEHJDQQHQ6LHGUHKWHQVLFKLQHLQHPUDVHQGHQ:LUEHO

%DOGEHJDQQGDVKDUWH0DWHULDODE]XEU|FNHOQXQGVLFKDXI]XO|VHQ ,FKULPLFKYRQGLHVHPIDV]LQLHUHQGHQ$QEOLFNORV]LHOWHVRUJIlOWLJDXIGHQ=DPXFFXQGGUFNWHDE (LQHQ$XJHQEOLFNODQJVWDQGGHU'LFNKlXWHUZLHHUVWDUUW'DQQEUDFKHUODXWORV]XVDPPHQ +DVWLJDNWLYLHUWHLFKPHLQ)XQNJHUlWXQGULHIGLH=HQWUDOH'RFKQLHPDQGPHOGHWHVLFK6ROOWHQGLH7LHUH VLHEHUHLWVHUREHUWKDEHQ"$EHUZDUXPKDWWHGDQQ)DUWXORRQPLFKQRFKQLFKWVHOEVWEHU)XQNEHQDFKULFKWLJW" +LQWHU PLU K|UWH LFK HLQ *HUlXVFK $OV LFK KHUXPIXKU VDK LFK ZLH VLFK 6SUDQJN ]ZHLHU %HVWLHQ HUZHKUWH6LHVDKHQDXVZLH6FKXGHQZDUHQDEHUJU|HUXQGNUlIWLJHUJHEDXW:lKUHQGLKUH)lQJHQDFKGHP .RPPDQGDQWHQVFKQDSSWHQGUDQJHLQKHOOHV6LQJHQDXVLKUHQ5DFKHQGDVPLFKDQLUJHQGHWZDVHULQQHUWH ,FK6FKRHLQHVGHU5DXEWLHUHDE6SUDQJNHUOHGLJWHGDVDQGHUH )LQVWHU VWDUUWH HU DXI GLH EHLGHQ .DGDYHU KLQDE0RUGVFKXGHQ´ VWLH HU KHUYRU ³'LHVH 9LHFKHU VLQG JHIlKUOLFK6LHVLQGVRIOLQNZLH%HUJVFKXGHQ$EHUVLHEHVLW]HQHLQ9LEUDWRUJHEL'DVGXUFKVFKQHLGHWXQVHUH $Q]JHZLHHLQ6WUDKOVFKX´ ³*OlQ]HQGH$XVVLFKWHQ´VDJWHLFKVDUNDVWLVFK³+RIIHQWOLFKKDEHQXQVHUH*HJQHUXQVQLFKWDOO]XYLHOH GDYRQDXIGHQ+DOVJHVFKLFNW´ =XZHLWHUHQ%HWUDFKWXQJHQKDWWHQZLUNHLQH=HLW:LUOLHIHQ]XUFNLQGHQ+DXSWJDQJXQGUDQQWHQEHU GDVVWLOOOLHJHQGH0RELOEDQG $QGHUQlFKVWHQ$E]ZHLJXQJVWLHHQZLUDXI6FKOHXGHUVSLQQHQ:LUKLHOWHQXQVQLFKWZHLWHUPLWLKQHQ DXI ZLFKHQ GHQ :XUIQHW]HQ DXV XQG HLOWHQ ]XP QlFKVWHQ 5DXP ZR VLFK ZLH ZLU ZXWHQ %LOGVFKLUPH EHIDQGHQ9LHOOHLFKWNRQQWHQZLUDXIGLHVH$UWHUIDKUHQZDVLP+DXSWJHElXGHJHVFKDK 'HU5DXPZDUOHHU6FKQHOOVFKDOWHWHLFKGLH6FKLUPHHLQ 'UHLGHUYLHU%LOGU|KUHQIODPPWHQDXI'RFKGDQQZDUQXUDXI]ZHLHQYRQLKQHQHWZDV]XHUNHQQHQ'HU 7RQZDUDXVJHIDOOHQ$EHUGDVZDVZLUVDKHQJDE$QOD]XGHQVFKOLPPVWHQ%HIUFKWXQJHQ hEHUDOO LQ GHU +DXSWNXSSHO VFKLHQ HV ]XP .DPSI JHNRPPHQ ]X VHLQ 1HEHQ YLHOHQ NOHLQHUHQ 5DXEWLHUHQZDUHQDXFKJU|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|W]OLFKEOLW]HQ'DV6NDUJ 6SLQQHQOHLEHU.|SIHXQG%HLQHGDQQGLH*OLHGPDHQYRQ5DXEWLHUHQZLUEHOWHQGXUFKGHQ5DXP)U HLQHQ $XJHQEOLFN ZDU )DUWXORRQ LP %LOG 0LW EHLGHQ $UPHQ VFKZDQJ HU GDV %UHLWVFKZHUW WUHQQWH HLQHP DQJUHLIHQGHQ5DJZXHB3DUGHQGHQ.RSIYRP5XPSI'DQQVFKZHQNWHGLH$XIQDKPHRSWLNHLQZHQLJ]XU6HLWH XQGLFKVDKQXUQRFKGDVEOLW]HQGHDXIBXQGDEVDXVHQGH6FKZHUW ,QGLHVHP$XJHQEOLFNILHOGHU7RQZLHGHUHLQ(UZDUEHUVWHXHUWXQGELVLFKGHQ5HJOHUJHGUHKWKDWWH EHUILHO XQV GLH *HUlXVFKNXOLVVH GHV .DPSIHV ZLH HLQ 2UNDQ +HXOHQ .UHLVFKHQ -DXOHQ XQG )DXFKHQ GD]ZLVFKHQ 7RGHVVFKUHLH XQG GDV =LVFKHQ XQG )DXFKHQ GHU 6WUDKOVFKVVH (V NQDWWHUWH XQG NUDFKWH ZHQQ LUJHQGZR&KHPLNDOLHQUHDJLHUWHQRGHUHOHNWURQLVFKHV*HUlW]HUEDUVW $XIHLQHPGHU%LOGVFKLUPHZHFKVHOWHGLH6]HQHULH(LQH.DPHUDGLHVLFKLQGHU)XQN]HQWUDOHEHIDQG ZXUGHHLQJHVFKDOWHW ³(LVNUDOOH´VWLH6SUDQJNKHUYRU 'HU &KUHWNRU KDWWH ZRKO YHUVXFKW VLFK ]X )DUWXORRQ GXUFK]XNlPSIHQ (QWZHGHU ZDU HU LQ GLH )XQN]HQWUDOHDEJHGUlQJWZRUGHQRGHUDEHUHUKDWWHVLHDXVHLJHQHP:LOOHQEHWUHWHQXPGLHZHUWYROOHQ*HUlWH ]XUHWWHQ 'LH )XQN]HQWUDOH KDWWHQ ZLU QDFK GHP .DPSI GHU ³*HVSHQVWHUDUPHHQ´ Y|OOLJ QHX QHEHQ GHU

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lQGHQHUVFKLHQHQGLHIXUFKWEDUHQ.UDOOHQXQGSDFNWHQ]X'LH6FKUHLHGHUEHLGHQ5DXEWLHUH EUDFKHQMlKDEDOVLKU.|USHUJHZHEH]X(LVHUVWDUUWH $QHLQHUDQGHUHQ6WHOOHGHV5DXPHVGLHJHUDGHQRFKLP(UIDVVXQJVEHUHLFKGHU.DPHUDODJKDWWHVLFK PLWWOHUZHLOHHLQH(QWZLFNOXQJDQJHEDKQWGLHIUGHQ&KUHWNRUJHIlKUOLFKZHUGHQNRQQWH =ZLVFKHQ GHQ 5DXEWLHUHQ VDK LFK GHQ .RSI HLQHU 6FKODQJH DXIWDXFKHQ 'DV 7LHU JHK|UWH HLQHU PLU XQEHNDQQWHQ $UW DQ 'LH VWDUUHQ OLGORVHQ $XJHQ ZDUHQ XQJHZ|KQOLFK JUR XQG VFKLHQHQ DXI HLQH VHOWVDPH :HLVH,QWHOOLJHQ]DXV]XVWUDKOHQ 0LW JHVFKPHLGLJHQ %HZHJXQJHQ O|VWH VLFK GLH 6FKODQJH DXV HLQHP 3XON 6FKXGHQ XQG JOLWW XQWHU GDV 6FKDOWSXOWGDVDXIHLQHP.XIHQVRFNHOVWDQG (LVNUDOOH GHU JHUDGH PLW GHQ EHLGHQ 5DXEWLHUHQ DXI GHU $QODJH ]X WXQ KDWWH KDWWH GLH *HIDKU QLFKW EHPHUNW ³*DOD[LV´NQXUUWHGHU.RPPDQGDQWQHEHQPLU³(ULVWYHUORUHQ´ (UKDWWHQRFKQLFKWDXVJHVSURFKHQGDK|UWHLFKB(LVNUDQHVZWHQGHQ6FKUHL'LH6FKODQJHPXWHLKP GLH %HLQH ZHJJH]RJHQ KDEHQ GHQQ LFK VDK ZLH GHU &KUHWNRU QDFK KLQWHQEHU ILHO 'LH .UDOOHQ JULIIHQ LQV /HHUH'DQQZDQGVLFKGHUDUPGLFNH.|USHUGHU6FKODQJHLQHLQHUEOLW]DUWLJHQ%HZHJXQJXP/HLEXQG*OLHGHU GHV0DQQHV/DQJVDPEHJDQQVLFKGLHW|GOLFKH6SLUDOH]XVDPPHQ]X]LHKHQ 3O|W]OLFKK|UWHQZLUHLQH6HULHYRQ6FKVVHQhEHUGDV%LOG]XFNWHHLQ6WUDKOHQIlFKHU'DQQZXUGHGHU 6FKLUPVFKZDU] ,FK YHUORU NHLQH ZHLWHUH 6HNXQGH VRQGHUQ UDQQWH DXV GHP 5DXP XQG VWUPWH GHQ .RUULGRU HQWODQJ +LQWHUPLUK|UWHLFK6SUDQJNVNHXFKHQGHQ$WHP :lKUHQG GHV /DXIHQV EHUOHJWH LFK RE LFK QLFKW HLQHQ )HKOHU JHPDFKW KlWWH 9LHOOHLFKW ZlUH HV GRFK EHVVHU JHZHVHQ GLHVHV *HElXGH KLHU PLWVDPW VHLQHP ,QKDOW ]X RSIHUQ XQG NRVWH HV ZDV HV ZROOH GHQ 'XUFKEUXFK]XU+DXSWNXSSHO]XHU]ZLQJHQ :DVZDUPLW(LVNUDOOH":DUHUWRW"'LH6WUDKOVFKVVHGLHLFKJHVHKHQKDWWHEHYRUGHU6FKLUPHUORVFK ZDUHQHLQ+RIIQXQJVVFKLPPHU :DUXP VFKZLHJ )DUWXORRQ" :LHGHU YHUVXFKWH LFK HLQH 9HUELQGXQJ ]X GHP %DXFKDXIVFKQHLGHU ]X EHNRPPHQ 9HUJHEHQV1LHPDQGPHOGHWHVLFK 'LH6RUJHXPGLH)UHXQGHWULHEPLFKYRUZlUWV:HLWHUKLQWHQPDFKWHGHU*DQJHLQH%LHJXQJ=ZDQ]LJ 6FKULWWZHLWHUEHIDQGVLFKHLQ]ZHLWHU$XVJDQJ 3O|W]OLFKK|UWHLFKODXWHV'U|KQHQXQGJOHLFKGDUDXIHLQGXUFKGULQJHQGHVKHLVHUHV7URPSHWHQ'DYRUQ PXWHHLQ6DXULHUDP:HUNVHLQ,FKVSUWHZLHGLH+DOOHEHEWH 'RFKZDUGLHVQXUGHU$QIDQJ,PQlFKVWHQ$XJHQEOLFNEUDFKGLH.DWDVWURSKHEHUXQVKHUHLQ=XHUVW YHUQDKPHQGLH2KUHQGHQWURPPHOIHOOHUVFKWWHUQGHQ.QDOOHLQHUVFKZHUHQ([SORVLRQ'DQQVDKHQZLUZLHVLFK YRUXQVGLHUHFKWH:DQGGHV.RUULGRUVQDFKLQQHQZ|OEWHXQGDXVHLQDQGHUEUDFK'LHQLHGULJH'HFNHVWU]WHDQ GLHVHU6WHOOHQDFKXQWHQ'LHVLFKDXVEUHLWHQGH'UXFNZHOOHHUIDWHXQVXQGOLHXQVJHJHQGLH:DQGWRUNHOQ $XVGHP/RFKYRUXQVGUDQVFKZDU]HU4XDOPXQGQDKPXQVGLH6LFKW'RFKDXFKVRZXWHQZLUGDGD YRUQNHLQ'XUFKNRPPHQP|JOLFKZDU'HU*DQJZDUDXIHLQHU/lQJHYRQPLQGHVWHQV]Z|OI6FKULWWYHUVFKWWHW $OV ZLU XQV XPGUHKWHQ K|UWHQ ZLU KHLVHUHV *HEUOO 9RQ GHP (LQJDQJ GXUFK GHQ ZLU JHNRPPHQ ZDUHQNDUUHQ*URUDXEWLHUHGHP7RQQDFKZDUHQHV=DPXFFV ,FK EOLFNWH PLFK XP 1HEHQ XQV EHIDQG VLFK HLQ 5DXP LQ GHP HOHNWURQLVFKHV .OHLQJXW ODJHUWH ,FK

HULQQHUWH PLFK GD DXI GHU DQGHUHQ 6HLWH GHV 5DXPHV HLQ ZHLWHUHU *DQJ YHUOLHI GHU ]X HLQHP $QWLJUDYOLIW IKUWH8QGGLHVHUZDUXPZDUPLUGDVQLFKWVFKRQIUKHUHLQJHIDOOHQ"BPQGHWHLQHLQHQXQWHULUGLVFKHQ*DQJ GXUFKGHQPDQLQGDV+DXSWJHElXGHJHODQJHQNRQQWH ³'D KLQHLQ´ ULHI LFK 6SUDQJN ]X XQG QDKP PLU QLFKW GLH =HLW HLQH (UNOlUXQJ DE]XJHEHQ 'HU .RPPDQGDQWZUGHEDOGVHOEVWGDKLQWHUNRPPHQZDVLFKYRUKDWWH $P (QGH GHV *DQJHV WDXFKWHQ GLH SOXPSHQ )RUPHQ HLQHV =DPXFFV DXI :HLWHUH 'LFNKlXWHU IROJWHQ 6SUDQJNXQGLFK]LHOWHQVRUJIlOWLJXQGGUFNWHQDE'HU5LHVHEUOOWHDXIDOVLKQGLH6FKVVHWUDIHQ(VGU|KQWH DOV GHU VFKZHUH .|USHU ]X %RGHQ VWU]WH 'LH QDFKIROJHQGHQ 7LHUH TXHWVFKWHQ VLFK DQ GHP JHW|WHWHQ $UWJHQRVVHQYRUEHL :LU|IIQHWHQGLH7U]XGHP/DJHUUDXPHLOWHQKLQGXUFKXQGEHWUDWHQGHQ*DQJDXIGHUDQGHUHQ6HLWH =HKQ 6FKULWWH ZHLWHU VWLHHQ ZLU DXI GHQ $QWLJUDYOLIW :LU VFKZDQJHQ XQV RKQH =|JHUQ KLQHLQ XQG VFKZHEWHQQDFKXQWHQ $OVZLUXQVGXUFKGHQXQWHULUGLVFKHQ*DQJEHZHJWHQHUORVFKSO|W]OLFKDXFKQRFKGLH1RWEHOHXFKWXQJ 6SUDQJNXQGLFKVFKDOWHWHQXQVHUH6FKHLQZHUIHUDQ 'LH IDKOHQ /LFKWNHJHO VWLHHQ LQ GLH )LQVWHUQLV YRU XQV XQG OLHHQ HUNHQQHQ GD GHU *DQJ HLQH .UPPXQJ PDFKWH 'LH :lQGH ELV KLHUKHU DXV 6WDKOSODVWLN JLQJHQ LQ 0DXHUZHUN EHU GDV DQ PDQFKHQ 6WHOOHQDEJHEU|FNHOWZDU3LO]HXQG)OHFKWHQEHGHFNWHQGLHXUDOWHQ6WHLQHXQGLQ1LVFKHQXQG/|FKHUQQLVWHWH DOOHUOHL*HWLHU 1DFK PHLQHU 5HFKQXQJ PXWHQ ZLU XQV EHUHLWV LP XQWHUHQ 7HLO GHV +DXSWJHElXGHV EHILQGHQ DOV LFK 5DVFKHOQXQG*HWUDSSHOK|UWH'HU6FKHLQZHUIHUNHJHOJOLWWEHUVFKZDU]EUDXQH7LHUOHLEHUKLQZHJWDVWHWHVLFK EHUGLH:DQGXQGHQWKOOWHHLQIXJURHV/RFKLP*HPlXHU (LQ7XQQHO 'LH6WHLQZUIHKDWWHQLKQJHJUDEHQ ,FKEOLHEVWHKHQKLHOWPHLQH:DIIHVFKXEHUHLWXQGOHXFKWHWHLQGDV/RFKKLQHLQ 9LHOOHLFKWNDPHQQRFKDQGHUH7LHUHGXUFKGHQ7XQQHO (LQKHLVHUHV.QXUUHQZDUQWHPLFK ,FK ZDUI PLFK ]XU 6HLWH .HLQH 6HNXQGH ]X IUK (LQ 6FKDWWHQ IORJ KHUDQ 'HU .|USHU HLQHV 7LHUHV VWUHLIWHPLFK6FKDUIH)lQJHVFKQDSSWHQ]X 6FKQHOOGUHKWHLFKPLFKXPOLHGHQ6WUDKOGHU/DPSHEHUGHQ%RGHQJOHLWHQ'DVJHVWU]WH7LHUHLQ 6FKXGHZDUVFKRQZLHGHUDXIGHQ%HLQHQXQGJULIIPLFKYRQQHXHPDQ ,FKVFKOXJLKPGHQ6WUDKOHUYRQXQWHQKHUJHJHQGLH6FKQDX]H'DV7LHUEHUVFKOXJVLFKXQGVWU]WHWRW ]X%RGHQ 6SUDQJN VWLH HLQHQ )OXFK DXV (V SROWHUWH 'DQQ HUORVFK GDV /LFKW VHLQHV 6FKHLQZHUIHUV *OHLFK]HLWLJ K|UWHLFKHVIDXFKHQXQGDOVLFKPHLQH/DPSHKHUXPVFKZHQNWHVDKLFKHLQHQVFKZDU]EUDXQHQ.OXPSHQGHU VLFK DXI GHP 5FNHQ GHV .RPPDQGDQWHQ IHVWJHNODPPHUW KDWWH :LHGHU K|UWH LFK GDV VFKDXULJH 6LQJHQ GHV 9LEUDWRUJHELVVHV ,FK VFKR VRIRUW 'HU 0RUGVFKXGH VFKULH DXI XQG ILHO KHUXQWHU ,FK K|UWH ZLH 6SUDQJN HLQ 6W|KQHQ YHUEL +DWHV6LHHUZLVFKW"¶IUDJWHLFK ³-D´NQXUUWHGHU.RPPDQGDQW³$QGHU6FKXOWHUBYHUIOXFKWH%HVWLH´ ,FKVFKZHQNWHGHQ6FKHLQZHUIHUXQGOHXFKWHWHGHQ*DQJXQGGDQQGHQ7XQQHODXV,P$XJHQEOLFNZDU NHLQ7LHU]XHQWGHFNHQ ,P/LFKWNHJHOIDQGLFK6SUDQJNV/DPSH6LHZDULQWDNW%HLP)DOOKDWWHVLHVLHOWOHGLJOLFKDXVJHVFKDOWHW ,FK VFKDOWHWH VLH ZLHGHU HLQ XQG VWHOOWH VLH VR DXI GHQ %RGHQ GD HLQ P|JOLFKVW JURHU 7HLO GHV *DQJHV DXVJHOHXFKWHWZXUGH'DQQWUDWLFK]X6SUDQJN 'HU.RPPDQGDQWKDWWHHLQHUVHLQHU7DVFKHQEHUHLWVGDV+HLOVSUD\HQWQRPPHQXQGKLHOWPLUGLH'RVH KLQ ,FK ULFKWHWH PHLQH HLJHQH /DPSH DXI VHLQH 6FKXOWHU 'LH :XQGH NODIIWH ILQJHUEUHLW DXVHLQDQGHU 'LH

=lKQHGHV6FKXGHQKDWWHQGDV)OHLVFKYRQGHQ.QRFKHQJHULVVHQ 6SUDQJNKDWWH*OFNLP8QJOFNJHKDEW(LQHVFKQHOOH%HZHJXQJGHV2EHUN|USHUVKDWWHLKQYHUPXWOLFK YRU6FKOLPPHUHPEHZDKUW'DVP|UGHULVFKH*HELKDWWHGDV.XJHOJHOHQNYHUIHKOW ,FKNOHPPWHGHQ6WUDKOHUVRXQWHUGHQOLQNHQ$UPGDGLH+DQGGHQ6FKHLQZHUIHUQRFKLQGHUULFKWLJHQ 6WHOOXQJKDOWHQNRQQWH'DQQVSUKWHLFKGDV+HLOPLWWHODXIGLH:XQGH ,FKIDQGJHUDGHQRFK=HLWGHP.RPPDQGDQWHQGLH'RVHLQGLH7DVFKH]XVFKLHEHQDOVDXVGHP/RFKLQ GHU:DQGGHU.RSIHLQHU6FKODQJHHUVFKLHQ 'LH7DUQ]HLFKQXQJREHUKDOEGHUVWDUUHQ$XJHQOHXFKWHWHIDKOJUQLP/LFKWGHV6FKHLQZHUIHUV$XIGHP .RSIGHV5HSWLOVZXFKVHQHLQ3DDUVHOWVDPJHIRUPWHU+|FNHU 3O|W]OLFKIODPPWHQGLHEHLGHQ+|FNHUDXIXQGHLQIQI6FKULWWODQJHU%OLW]IXKU]ZLVFKHQ6SUDQJNXQG PLUKLQGXUFKXQGVFKOXJKLQWHUXQVLQGLH:DQG ,FKJULIIEOLW]VFKQHOOPLWGHU5HFKWHQQDFKGHP6WUDKOHUXQGVFKRYRQGHU+IWHDXV 'DV5HSWLOYHUGDPSIWH (KH ZLU ZHLWHUHLOWHQ VFKORVVHQ ZLU GLH +HOPH XQVHUHU .DPSIDQ]JH 'DGXUFK ZDUHQ ZLU EHVVHU DXI ZHLWHUH=ZLVFKHQIlOOHYRUEHUHLWHW 1DFK HLQHU :HLOH K|UWHQ ZLU EHU XQV GXPSIHV *UROOHQ 9RQ GHU 'HFNH ILHOHQ %URFNHQ LQ GHQ *DQJ KHUXQWHU 'DV*UROOHQZLHGHUKROWHVLFKLQGHQQlFKVWHQ6HNXQGHQQRFKPHKUPDOV ([SORVLRQHQ:DVPRFKWHGDREHQORVVHLQ"/HEWHQGLH)UHXQGHQRFK":LHODQJHNRQQWHQVLHVLFKQRFK JHJHQGLHUDVHQGHQ%HVWLHQKDOWHQ" 'DV/LFKWXQVHUHU6FKHLQZHUIHUSUDOOWHDXIHLQH:DQG 'RUW YRUQ PDFKWH GHU *DQJ HLQHQ VFKDUIHQ .QLFN 'DKLQWHU PXWH VLFK GHU $QWLJUDYOLIW EHILQGHQ GHU XQVLQV,QQHUHGHV+DXSWJHElXGHVEHI|UGHUQVROOWH $EHUDOVZLUXPGLH(FNHERJHQVWRFNWHXQVHU6FKULWW 9RU XQV ODJ HLQH XQGXUFKGULQJOLFKH 0DVVH YRQ *HVWHLQ JHERUVWHQHQ 7UlJHUQ XQG JHVFKPRO]HQHP 6WDKOSODVWLN (LQH([SORVLRQPXWHQRFKHKHZLUGHQXQWHULUGLVFKHQ*DQJEHWUHWHQKDWWHQGLHVHQ7HLOGHV.RUULGRUV PLWVDPW$QWLJUDYDQODJH]HUVW|UWKDEHQ (VEOLHEXQVQLFKWVDQGHUHVEULJDOVGHQ:HJGHQZLUJHNRPPHQZDUHQZLHGHU]XUFN]XHLOHQ :lKUHQGGHV5FNPDUVFKHVGDFKWHLFKGDUDQZHOFKHQVFKZHUHQ)HKOHULFKEHJDQJHQKDWWHDOVLFKPLFK PLW6SUDQJN]XVDPPHQLQGHQXQWHULUGLVFKHQ7HLOGHU$QODJHEHJHEHQKDWWH *HZL LP HUVWHQ $XJHQEOLFN VFKLHQ HV GHU NU]HVWH :HJ ]XU =HQWUDOH ]X VHLQ 'RFK LFK KDWWH GLH *HIlKUOLFKNHLW GHU 7LHUH XQWHUVFKlW]W :HQQ ZLU MHW]W DXFK GHQ $QWLJUDYOLIW LQ GHU 3URMHNWRUKDOOH QLFKW PHKU HUUHLFKHQNRQQWHQZDUHQZLUDEJHVFKQLWWHQ 8QWHUZHJVHQWGHFNWHQZLUHLQHQ]ZHLWHQYRQ7LHUHQJHERKUWHQ7XQQHOGHQZLUYRUKHUEHUVHKHQKDWWHQ 0HLQH(UOHLFKWHUXQJZDUJURDOVZLUGHQ$QWLJUDYOLIWDP(QGHGHV*DQJHVHUUHLFKWHQ$EHUDOVZLULKQ XPSROHQZROOWHQHUOHEWHQZLUHLQHKHUEH(QWWlXVFKXQJ'DV)HOGEOLHEDEZlUWVJHULFKWHW :DV QXQ" 'DV 1DKHKHJHQGH ZDU GDV $QWLVFKZHUHIHOG JlQ]OLFK DE]XVFKDOWHQ XQG EHU GLH 6WHLJHLVHQ GHV1RWHLQVWLHJVGDVREHULUGLVFKH6WRFNZHUN]XHUUHLFKHQ 9RQREHQKHUZDUHQ*HUlXVFKH]XK|UHQGLHGLH$QZHVHQKHLWYRQ7LHUHQDQ]HLJWHQ:LUPXWHQREHQ VHLQHKH¶VLFKDOO]XYLHOHYRQLKQHQYRUGHP$XVJDQJGHV/LIWVYHUVDPPHOWKDWWHQ ,FK |IIQHWH GHQ 6FKDOWNDVWHQ 1DFK NXU]HU $QDO\VH VWHOOWH LFK IHVW GD VLFK QXU GLH 6FKDOWXQJ IU GLH )HOGXPSROXQJ GDULQ EHIDQG (LQH $NWLYLHUXQJ EH]LHKXQJVZHLVH 'HVDNWLYLHUXQJ ZDU YRQ KLHU DXV JDU QLFKW P|JOLFK 6SUDQJNGHUDQPHLQHU0LHQHHUNDQQWHGDHWZDVQLFKWLQ2UGQXQJZDUIUDJWH ³:DVLVWORV"6WLPPWHWZDVQLFKW"´ ,FKHUNOlUWHHVLKP ³8QGZHQQZLUGLH3ROVFKDOWXQJ]HUVW|UHQ"´

,FKVFKWWHOWHGHQ.RSI³'DVQW]WOHLGHUJDUQLFKWV$XIGLH)HOGSURMHNWLRQVHOEVWN|QQHQZLUYRQKLHU DXVDXINHLQH:HLVH(LQIOXQHKPHQ´ 8QVHU 9HUVXFK HQWJHJHQ GHU QDFK XQWHQ ZLUNHQGHQ .UDIW GHV $QWLJUDYLWDWLRQVIHOGHV GHQ $XIVWLHJ ]X VFKDIIHQ VFKHLWHUWH 'UHL )X EHU GHP %RGHQ VHW]WH GHU 6RJ EHUHLWV PLW YROOHU .UDIW HLQ XQG GUFNWH XQV XQZLGHUVWHKOLFK QDFK XQWHQ =X DOOHP hEHUIOX ZDU GHU *HUlXVFKSHJHO EHU XQV JHZDOWLJ JHVWLHJHQ (LQ =HLFKHQGDIUGDVLFKDXFKLQGLHVHU+LQVLFKWGLH/DJH]XXQVHUHP1DFKWHLOJHZDQGHOWKDWWH $OVLFKKLQXQGKHUEHUOHJWHXPHLQHQ$XVZHJ]XILQGHQILHOPLUGHU7XQQHOHLQDQGHPZLUJHUDGH YRUEHUJHNRPPHQZDUHQ ,FKULHIPLUGLH/DJHGHU*HElXGHGHV6WW]SXQNWHVLQV*HGlFKWQLV'DQDFKPXWHVLFKJDQ]LQGHU1lKH XQG ]ZDU LQ *DQJULFKWXQJ JHVHKHQ UHFKWV YRQ XQV GLH /DJHUKDOOH EHILQGHQ $XFK GLHVHV *HElXGH EHVD HLQHQ$QWLJUDYOLIWGHU]XXQWHULUGLVFKHQ5lXPHQIKUWH 'HU YRQ GHQ 7LHUHQ JHERKUWH 7XQQHO IKUWH²ZHQQ LFK PLFK QLFKW VHKU LUUWH²LQ GLH 5LFKWXQJ GHV 1DFKEDUJHElXGHV1DWUOLFKZDUHUIUXQVLQVHLQHUGHU]HLWLJHQ)RUPQLFKWEHQXW]EDU$EHUYLHOOHLFKWNRQQWHQ ZLULKQHUZHLWHUQ" ,FKHUNOlUWH6SUDQJNLQNXU]HQ:RUWHQPHLQH,GHHXQGZLUHLOWHQ]XGHU6WHOOHDQGHUVLFKGHU7XQQHO EHIDQG (UPQGHWHYRQOLQNVNRPPHQGLQGHQ*DQJXQGVHW]WHVLFKDQGHUDQGHUHQ6HLWHIRUW 'LH 5LFKWXQJ NRQQWH VWLPPHQ YRUDXVJHVHW]W GHU 7XQQHO PDFKWH NHLQHQ VFKDUIHQ .QLFN 1XQ ZLU ZUGHQVHKHQ 6SUDQJNOHXFKWHWHPLWVHLQHP6FKHLQZHUIHUKLQHLQ ³$OOHVKDUWHV*HVWHLQ´VDJWHHU 'DV ZDU JXW VR (V YHUULQJHUWH ZHQQ ZLU GHQ 4XHUVFKQLWW GHV 7XQQHOV HUZHLWHUWHQ GLH *HIDKU GD GLHVHUHLQVWU]WH'LH)UDJHZDUQXUREGDVEHUDOOVRZDU:LUPXWHQGDPLWUHFKQHQGDZLUDXIZHLFKHUHV *HVWHLQRGHUJDUDXI(UGUHLFKVWLHHQ'DQQZXUGHHVNULWLVFK (LQH DQGHUH )UDJH ZDU RE ZLU IDOOV ZLU ZLUNOLFK GDV 1DFKEDUJHElXGH HUUHLFKWHQ GRUW PHKU *OFN KDWWHQ1XQXQVEOLHENHLQHDQGHUH:DKODOVXQVHU*OFN]XYHUVXFKHQ ,FK QDKP HLQH HQWVSUHFKHQGH (LQVWHOOXQJ DQ PHLQHP 6WUDKOHU YRU 'DQQ VFKORVVHQ ZLU GLH +HOPH GLH ZLUYRUEHUJHKHQGZLHGHUJH|IIQHWKDWWHQXQGLFKEHJDQQGDVGHQ7XQQHOXPJHEHQGH*HVWHLQ]XYHUGDPSIHQ 'DV*HVWHLQVJDVZDOOWHLQJUDXHQ:RONHQDQXQVHUHQ.|SIHQYRUEHLXQGYHUIOFKWLJWHVLFKLP*DQJ :LU NDPHQ JXW YRUDQ 7LHUHQ EHJHJQHWHQ ZLU QLFKW :lKUHQG ZLU XQV 6FKULWW XP 6FKULWW GXUFK GHQ )HOVHQDUEHLWHWHQGDFKWHLFKPLW%HZXQGHUXQJGDUDQPLWZHOFKHQ.UlIWHQGLH1DWXUPDQFKHLKUHU*HVFK|SIH DXVJHVWDWWHW KDWWH 'DV ZR]X ZLU WKHUPRQXNOHDUH (QHUJLH EHQ|WLJWHQ VFKDIIWHQ GLH 6WHLQQDJHU DXV HLJHQHU .UDIW 1DFK HLQLJHU =HLW EHPHUNWHQ ZLU GD GDV *HVWHLQVJDV QDFK YRUQ DE]RJ 8QG NXU] GDUDXI VDKHQ ZLU HLQHQ/LFKWVFKLPPHU 9RU XQV ODJ HLQ XQWHULUGLVFKHU 5DXP $OV ZLU LQ LKQ HLQGUDQJHQ VDKHQ ZLU GD HU OHHU ZDU 'LH 1RWEHOHXFKWXQJEUDQQWH $XIGHUDQGHUHQ6HLWHGHV5DXPHVEHIDQGVLFKHLQH1LVFKH'HU(LQJDQJ]XP$QWLJUDYOLIW $OVLFKGLH6FKDOWXQJXQWHUVXFKWHNRQVWDWLHUWHLFKPLWJUHQ]HQORVHU(UOHLFKWHUXQJGDVLHIXQNWLRQLHUWH ,FKSROWHGDV)HOGXPXQGZLUVFKZHEWHQQDFKREHQ 'DV*HElXGHVFKLHQYRQ7LHUHQYHUODVVHQXQGZLUEHHLOWHQXQV]XP$XVJDQJ]XNRPPHQ $EHU DOV ZLUGLH/DJHUKDOOHGXUFKTXHUWHQVDKLFKZLHDXIGHUDQGHUHQ6HLWHGLH:DQG]XVFKZDQNHQ EHJDQQ (V JDE HLQ RKUHQEHWlXEHQGHV .UDFKHQ XQG LQ HLQHU /lQJH YRQ PLQGHVWHQV ]Z|OI 6FKULWW UL GDV 6WDKOSODVWLNELV]XU'HFNHDXIXQGEUDFKLQGLH+DOOH 0LWHLQHPJHZDOWLJHQ6DW]]XUFNEUDFKWHQZLUXQVLQ6LFKHUKHLWXQGKREHQJOHLFK]HLWLJXQVHUH:DIIHQ LQ6FKXVWHOOXQJ 9RUXQVUDJWHGHUEODXJHVFKXSSWH3DQ]HUHLQHV6DXULHUV(UZDUVRJURGDHUGLH+DOOHLQLKUHUJDQ]HQ +|KHDXVIOOWH

'HUHEHQIDOOVEODXJHVFKXSSWH+DOVZDUWLHIKHUDEJHERJHQXQGGHU.RSIPLWGHPDXIJHULVVHQHQ5DFKHQ SHQGHOWHKLQXQGKHU 6SUDQJNXQGLFKVFKRVVHQJOHLFK]HLWLJ $XV GHP 5DFKHQ EUDFK HLQ XUZHOWOLFKHV*HEUOO(LQYLROHWWHU%OXWVWURPVFKRDXVGHP6FKOXQG XQG GDV0RQVWUXPVWU]WH]X%RGHQ =XVSlWHUNDQQWHLFKGLHJUDXHQ)OHFNHQ]ZLVFKHQGHQ6FKXSSHQ,PQlFKVWHQ$XJHQEOLFNVWDUWHWHQGLH +DXWVHJOHU XQG ILHOHQ EHU XQV KHU (V JHODQJ XQV QRFK HLQ KDOEHV 'XW]HQG YRQ LKQHQ DE]XZHKUHQ $EHU HV ZDUHQ LKUHU ]X YLHOH ,FK VSUWH ZLH PHLQH $UPH VFKZHU ZXUGHQ 'DV HNOLJH 6HNUHW GUDQJ ]ZLVFKHQ PHLQH )LQJHU NOHEWH VLH DQHLQDQGHU 'HU 6WUDKOHU JOLWW ]X %RGHQ =XP *OFN ZDUHQ XQVHUH +HOPH QRFK LPPHU JHVFKORVVHQ 6HOWVDPHUZHLVHJHEUDXFKWHQGLH7LHUHQLFKWLKUHKDUWHQ6FKQlEHO 'DQQVDKLFKGLH6FKXGHQGXUFKGDV/RFKLQGLH+DOOHHLQGULQJHQ 'LH+|KOHPDDQGHUZHLWHVWHQ6WHOOHHWZD]HKQ6FKULWW,P,QQHUQGHV%HUJHVYHU]ZHLJWHVLHVLFK]X HLQHPDXVJHGHKQWHQ6\VWHPXQGIKUWHVFKUlJLQGHQ%DVDOWNHJHOKLQXQWHUGHUVLFKELVQDKHDQGHQ)OXODXI KHUDQVFKRE'LH5RERWHUKDWWHQDOOHQRWZHQGLJHQ *HUlWH 0DVFKLQHQ XQG'HSRWV KLHUKHUJHEUDFKW'DQQKDWWH &RUSNRUGDV6FKLIILQGHQ5DXPJHVFKLFNW (VZDUK|FKVWH=HLWJHZHVHQ.XU]GDQDFKZDUHQ)OXJURERWHUHUVFKLHQHQ6LHZDUHQVFKZHUEHZDIIQHW JHZHVHQXQGHVZDUXQVFKZHU]XHUNHQQHQGDVLHGHQ$XIWUDJHUKDOWHQKDWWHQGDV6FKLII]XYHUQLFKWHQ &RUSNRUJULQVWH6LHZDUHQYHUJHEOLFKJHNRPPHQ6HLQ6FKLIINUHLVWHLQHLQHPVWDWLRQlUHQ2UELWXPGHQ 3ODQHWHQ:HQQHUHVEUDXFKWHZUGHHUHVGXUFK)XQNEHIHKOKHUEHLUXIHQ &RUSNRU EOLFNWH DXI GLH 0RQLWRUHQ GLH DQ GHQ :lQGHQ GHU +|KOH PRQWLHUW ZRUGHQ ZDUHQ $XI LKQHQ HUVFKLHQHQGLH5DVWHUELOGHUGLHGLH*HKLUQHGHU&OL]]EHUPLWWHOWHQ'LH,QVHNWHQIORJHQGXUFKHLQHQNOHLQHQ ZHLWHU REHUKDOE JHOHJHQHQ (LQJDQJ LQ GDV +|KOHQV\VWHP HLQ XQG ZXUGHQ YRQ GHQ $XWRPDWHQ DQ GLH 6SH]LDODSSDUDWXUDQJHVFKORVVHQ -HPDQGHPGHUGLHVH$UWGHU%LOGEHUWUDJXQJQLFKWJHZ|KQWZDUZUGHHV6FKZLHULJNHLWHQPDFKHQGLH %LOGHULPPHUHLQZDQGIUHL]XHUNHQQHQ'RFKIU&RUSNRUH[LVWLHUWHQVROFKH3UREOHPHQLFKW 'HU 7LHUElQGLJHU EHREDFKWHWH GHQ $XIPDUVFK VHLQHU 7LHUH LQ GHP 7DO XQG LKUHQ $QJULII DXI GHQ 6WW]SXQNW 'HU5HFKQHUDUEHLWHWHRKQH6W|UXQJHQ'HQQRFKJHVFKDKHV]XZHLOHQGDGLH6]HQHQHWZDV]XDEUXSW ZHFKVHOWHQRGHUJHUDGHLPIDOVFKHQ0RPHQWDEEUDFKHQ'LH$XVZDKOXQGGLHhEHUWUDJXQJVIROJHKLQJQDWUOLFK DXFKGDYRQDEZLHYLHOH&OL]]JHUDGHLP(LQVDW]ZDUHQXQGZRVLHVLFKDXIKLHOWHQ 'LH 6WHLQQDJHU KDWWHQ JXWH 9RUDUEHLW JHOHLVWHW 'HU $QJULII JLQJ ]JLJ YRUDQ $Q HLQLJHQ *HElXGHQ ZDUHQ GLH HUVWHQ =HUVW|UXQJHQ ]X HUNHQQHQ =DKOUHLFKH 6FKXGHQ XQG HLQLJH JU|HUH 5DXEWLHUH GUDQJHQ HLQ =DPXFFV XQG .HJHOVFKXSSHQHFKVHQ GLH YRQ 6GHQ KHU KHUDQNDPHQ GUFNWHQ GLH :lQGH HLQHU NOHLQHUHQ .XSSHOHLQXQG]HUWUPPHUWHQGLH,QQHQHLQULFKWXQJ $OVGHUPXWPDOLFKH.ULVWDOOSULQ]LQGHQ(UIDVVXQJVEHUHLFKGHU)DFHWWHQDXJHQJHULHWZXFKV&RUSNRUV 6SDQQXQJ 'HU MXQJH 0DQQ ZDU HLQ KHUYRUUDJHQGHU .lPSIHU (U XQG HLQ DQGHUHU 0DQQ PLW GHQ 5DQJDE]HLFKHQ HLQHV DUNRQLGLVFKHQ 2IIL]LHUV DXI VHLQHP .DPSIDQ]XJ ULFKWHWHQ HLQ %OXWEDG XQWHU GHQ 7LHUHQ GHU HUVWHQ $QJULIIVZHOOHDQ ,P%LOGHUVFKLHQHQHLQLJH5DJZXHB3DUGHQ'DQQYHUVFKZDQGHQVLHZLHGHUYRP0RQLWRUXQGPLWLKQHQ DXFKGLHEHLGHQ0lQQHU (LQLJHGHU&OL]]ZDUHQLP*HIROJHDQGHUHU7LHUHLQV,QQHUHHLQHVJURHQ*HElXGHVHLQJHGUXQJHQ6LH EHUPLWWHOWHQ%LOGHUYRQGHPZDVVLFKGRUWDEVSLHOWH

6WHLQZUIH XQG )HOVNQDFNHU KDWWHQ 7XQQHO YRQ GHU 6HLWH XQG YRQ XQWHQ KHU KLQHLQJHERKUW 0HKUHUH 5XGHO YHUVFKLHGHQHU 6FKXGHQDUWHQ .DPSIVSLQQHQ XQG .ULHFKWLHUH ZDUHQ GXUFK GLH 7XQQHO LQV ,QQHUH GHU .XSSHOJHODQJW9RQDXHQNDPHQ6DXULHUXQG=DPXFFVXQGYHUVXFKWHQGLH:lQGHHLQ]XGUFNHQ %LOGHU YRQ GHQ 5lXPHQ XQG GHUHQ (LQULFKWXQJHQ OLHHQ &RUSNRU HUNHQQHQ GD HV VLFK XP GDV +DXSWJHElXGHPLW/HLWBXQG)XQN]HQWUDOHKDQGHOWH(LQPDOHUVFKLHQIUHLQLJH$XJHQEOLFNH)DUWXORRQDXIGHP %LOG (U VFKZDQJ HLQ EUHLWHV 6FKZHUW XQG W|WHWH GLH DQJUHLIHQGHQ 7LHUH UHLKHQZHLVH 'DQQ WDXFKWH GLH )XQN]HQWUDOHDXI(LQSDDU1DJHUZDUHQGDPLWEHVFKlIWLJWGLH:lQGHDQ]XERKUHQ9RQGHU6HLWHKHUEOLW]WHHV 6WUDKOVFKVVH'DQQZHFKVHOWHGLH6]HQHHUQHXW 'LHVPDOVDK&RUSNRUHLQHQMXQJHQKRFKJHZDFKVHQHQ$UNRQLGHQ(UZHKUWHPLWVHLQHU6WUDKOZDIIHGHQ $QJULII ]ZHLHU 5DJZXHB3DUGHQ DE (LQ .DPSIURERWHU GHU DQ VHLQHU 6HLWH NlPSIWH HUVFKR HLQHQ 0RUGVFKXGHQGHUGHPMXQJHQ0DQQDXIGHQ5FNHQVSUDQJ 3O|W]OLFKVWUPWHQ6WHO]NDW]HQEHUGLH6]HQH6LHVSUDQJHQGHQ5RERWHUYRQPHKUHUHQ6HLWHQ]XJOHLFK DQXQGEUDFKWHQLKQ]XP8PVWU]HQ 'DV*HVFKHKHQVFKLHQVLFKLQHLQHUIODFKHQ+DOOHDE]XVSLHOHQ'LH'HFNHZDUQLHGULJQRFKNHLQHVLHEHQ )XEHUGHP%RGHQ'HUMXQJH$UNRQLGHZHKUWHVLFKYHU]ZHLIHOW(UHUOHJWHGUHLGHU$QJUHLIHUEHYRULKQGHU YLHUWH]X%RGHQULXQGYHUVXFKWHLKPGLHVSLW]HQ.UDOOHQLQGLH%UXVW]XVFKODJHQ 'HU 0DQQ ]RJ GDV 9LEUDWRUPHVVHU DXV GHP )XWWHUDO XQG VWLH ]X &RUSNRU µVDK ZLH VLFK GDV 7LHU ]XVDPPHQNUPPWH*HLIHUIORLKPDXVGHP0DXO,P7RGHVNDPSIXPNODPPHUWHGLH5DXENDW]HLKUHQ*HJQHU XQG UL LKQ PLW VLFK 6LFK EHUVFKODJHQG VWU]WH GDV XQJOHLFKH 3DDU GXUFK HLQH VLFK |IIQHQGH 7U LQ HLQHQ DQGHUHQ5DXP 'LH3RVLWURQLNKDWWHJXWH$UEHLWJHOHLVWHW'LHhEHUWUDJXQJHQNDPHQMHW]WYRQHLQHP&OL]]GHUVLFKLQ GHP5DXPEHIDQGLQGHQGHU0DQQXQGGDVVWHUEHQGH7LHUJHVWU]WZDUHQ (UVFKLHQOHHU$QGHUUHFKWHQ:DQGVWDQGHQRYDOH%HKlOWHU]XORVHQ6lXOHQDXIHLQDQGHUJHVWDSHOW'HU OLQNH7HLOODJQLFKWLP(UIDVVXQJVEHUHLFKGHU,QVHNWHQDXJHQ 'HUMXQJH$UNRQLGHEHIUHLWHVLFKYHUPLWWHOVVHLQHV9LEUDWRUPHVVHUVDXVGHU8PNODPPHUXQJ(UNRQQWH VLFK QXU PKVDP HUKHEHQ XQG VFKZDQNWH OHLFKW (LQ 3UDQNHQKLHE KDWWH GLH 5DXPNRPELQDWLRQ DP OLQNHQ 2EHUVFKHQNHO]HUIHW]W&RUSNRUVDK%OXWKHUYRUTXHOOHQ 3O|W]OLFKEHJDQQGDVJDQ]H%LOG]XZDFNHOQ$POLQNHQ%LOGUDQGHQWVWDQGKHIWLJH%HZHJXQJ'DQQZDU GLHhEHUWUDJXQJVRVFKZDFKGD&RUSNRUNDXPHUNHQQHQNRQQWHZDVJHVFKDK0|JOLFKHUZHLVHZDUGHU&OL]] YHUOHW]WZRUGHQ(UVFKLHQZDKUVFKHLQOLFKGXUFKGLH'UXFNZHOOHHLQHU([SORVLRQGXUFKGHQ5DXPJHZLUEHOW]X ZHUGHQ6FKOLHOLFKNDPVHLQ)OXJGLFKWXQWHUKDOEGHU'HFNHZLHGHUKDOEZHJV]XU5XKH&RUSNRUEOLFNWHGXUFK GLH)DFHWWHQDXJHQMHW]WLQGLH5LFKWXQJLQGHUVLFKGHU(LQJDQJEHIDQGRGHUYLHOPHKUEHIXQGHQKDWWH'HQQ GRUWUDJWHHLQ%HUJUDXFKHQGHUXQGEUHQQHQGHU7UPPHUPDVVHQELV]XU'HFNHHPSRU )ODPPHQ OHFNWHQ LQ GHQ 5DXP KLQHLQ XQG GDQQ ZDU SO|W]OLFK GHU JDQ]H %LOGVFKLUP LQ HLQH ZHLH /LFKWIOXWJHEDGHW'LH6]HQHEUDFKDE (LQH HUQHXWH ([SORVLRQ GDFKWH &RUSNRU :DV VLH DXVJHO|VW KDWWH ZDU QLFKW ]X HUNHQQHQ JHZHVHQ (UVWDXQOLFKZDUGDHVGHP&OL]]JHOXQJHQZDUQRFKDXVGLHVHU+|OOH]XHQWNRPPHQ'HUMXQJH0DQQZDU YHUPXWOLFKWRW)UHLQHQ$XJHQEOLFNIKOWH&RUSNRUVRHWZDVZLH%HGDXHUQ'RFKGDQQYHUILQVWHUWHVLFKVHLQ *HVLFKW,QVHLQHP%HUXIZDUNHLQ3ODW]IU6HQWLPHQWDOLWlWHQ $XI GHP %LOGVFKLUP HUVFKLHQ HLQ 5DXP GHVVHQ (LQULFKWXQJ EHUHLWV VWDUN ]HUVW|UW ZDU *HUlWH XQG 0DVFKLQHQ ZDUHQ YRQ GHQ 7LHUHQ ELV ]XU 8QNHQQWOLFKNHLW ]HUWUPPHUW ZRUGHQ 7URW]GHP JODXEWH GHU 7LHUElQGLJHU]XZLVVHQGDHVVLFKXPGLH)XQN]HQWUDOHKDQGHOWH ,QGHU0LWWHGHV5DXPHVNlPSIWHMHPDQGXPVHLQ/HEHQ&RUSNRUVDKGDHVGHU&KUHWNRUZDU6HLQ NULVWDOOLQHU .|USHU ZDU YRQ HLQHU 5LHVHQVFKODQJH IHVW XPVFKOXQJHQ 6HLQH W|GOLFKHQ :DIIHQ GLH +lQGH ]XFNWHQKLQXQGKHUXQGJULIIHQLPPHUZLHGHULQV/HHUH ³$\XDN´ VWLH GHU .RSIMlJHU KHUYRU *HEDQQW VWDUUWH HU DXI GDV *HVFKHKHQ 'LH +DPPHUVFKODQJH ULQJHOWH VLFK LPPHU K|KHU XP GHQ .|USHU LKUHV 2SIHUV *DQ] DOOPlKOLFK ]RJHQ VLFK GLH :LQGXQJHQ HQJHU &RUSNRU YHUPHLQWH GDV 5|FKHOQ GHV &KUHWNRUV ]X K|UHQ (V ZDU QXU QRFK HLQH )UDJH GHU =HLW ZDQQ GLH

.QRFKHQGHV0DQQHVEUHFKHQZUGHQ 'RFK SO|W]OLFK ]XFNWH HLQ KHOOHU 6FKHLQ EHU GHQ %LOGVFKLUP 'LH hEHUWUDJXQJ ZHFKVHOWH &RUSNRU EHWUDFKWHWH GLH 9RUJlQJH MHW]W GXUFK GLH $XJHQ HLQHV ]ZHLWHQ &OL]] DXV HLQHU DQGHUHQ 3HUVSHNWLYHBXQG ]ZDU YRQREHQ .DPSIURERWHU HUVFKLHQHQ DP (LQJDQJ 6LH HUNlPSIWHQ VLFK HLQH *DVVH ]XU 0LWWH GHV 5DXPHV 'DQQ VSUDFKHQLKUH6WUDKOZDIIHQ6LHKDWWHQJXWJH]LHOW'HU.|USHUGHU+DPPHUVFKODQJHZXUGHVFKODII &RUSNRUVDKZLH$\XDNVWDUE6HLQH+lQGHYHUNUDPSIWHQVLFKXPGLH/HKQHVHLQHV6HVVHOV$\XDN 'HU&KUHWNRUZDUNDXPEHIUHLWGDVSUDQJHUDXIGLH%HLQHXQGVWU]WHVLFKLQGHQ.DPSI 6FKOHXGHUVSLQQHQZDUHQLQGHQ5DXPHLQJHGUXQJHQ6LHILHOHQGLH5RERWHUDQXQGGDVLHVHKU]DKOUHLFK ZDUHQPDFKWHQVLHGHQ0DVFKLQHQVFKZHU]XVFKDIIHQ 0HKUHUH.DPSIURERWHUODJHQEHUHLWVEHZHJXQJVXQIlKLJLQGLH1HW]HYHUVWULFNWDP%RGHQ6LHNRQQWHQ LKUH:DIIHQQLFKWPHKUJH]LHOWHLQVHW]HQ'DJULIIGHU&KUHWNRUHLQ 'DV NULVWDOOLQH :HVHQ VSUDQJ PLWWHQ XQWHU GLH DXI LKUHQ ]Z|OI %HLQHQ YRQ DOOHQ 6HLWHQ KHUDQHLOHQGHQ 6SLQQHQ6HLQH+lQGHDQGHQHQXQGHXWOLFK.UDOOHQ]XHUNHQQHQZDUHQSDFNWHQ]XBXQGGLH6FKOHXGHUVSLQQHQ HUVWDUUWHQ,KUH1HW]HEDUVWHQ6LHZDUHQ]X(LVHUVWDUUW &RUSNRUVDKQRFKZLHGHU&KUHWNRUDXVGHP5DXPHLOWH'DQQZDUHQDXIGHP%LOGVFKLUPQXUQRFKGLH ]HUVW|UWHQ*HUlWHXQGYLHOHWRWH7LHUH]XVHKHQ (LQH5RERWVWLPPHVDJWH ³'LHHUVWHQ'DGDQJVVLQGDQJHNRPPHQ,QIRUPDWLRQVWlQ]HKDEHQEHUHLWVEHJRQQHQ´ &RUSNRUEOLFNWHDXIGHQ0RQLWRU,P$XJHQEOLFNJHVFKDKQLFKWVYRQEHVRQGHUHU%HGHXWXQJ(UVFKDOWHWH DXI6SHLFKHUXQJXQGHUKREVLFK (LQHQ EHVVHUHQ 3ODW] KlWWH HU QLFKW ILQGHQ N|QQHQ GDFKWH HU ZlKUHQG HU EHU GHQ OHLFKW DEIDOOHQGHQ %RGHQWLHIHULQGDV+|KOHQV\VWHPKLQHLQVFKULWW'LH5RERWHUKDWWHQHLQHVWDUNH/LFKWDQODJHLQVWDOOLHUWGLHGLH 5lXPH KHOO DXVOHXFKWHWH +LHU NRQQWH HU XQJHVW|UW RSHULHUHQ 2SWLVFK NRQQWH HU QLFKW HQWGHFNW ZHUGHQ 1DWUOLFK GHU )HLQG KlWWH NHLQH 6FKZLHULJNHLWHQ JHKDEW LKQ PLW 2UWXQJVJHUlWHQ KLHU DXI]XVSUHQ 'LH )OXJURERWHU KDWWHQ RIIHQVLFKWOLFK DEHU QXU GHQ %HIHKO JHKDEW GDV 6FKLII ]X ]HUVW|UHQ 8QG LP $XJHQEOLFN KDWWHQGLH+HUUHQGHV6WW]SXQNWVDQGHUHV]XWXQDOVVLFKXPGHQ0DQQLQGHQ%HUJHQ]XNPPHUQ &RUSNRUJHODQJWHGXUFKHLQH(QJVWHOOHKLQGXUFKLQHLQHQ6HLWHQUDXP(UZDUVSH]LHOOIUGLH$XVZHUWXQJ GHU,QIRUPDWLRQHQGHU'DGDQJVHLQJHULFKWHWZRUGHQ 'LHVHZLQ]LJHQ)OXJLQVHNWHQGLHQWHQGD]XGHP7LHUElQGLJHUEHVWLPPWH,QIRUPDWLRQHQ]XEHUPLWWHOQ 6LHIORJHQEHGHXWHQGODQJVDPHUDOVGLHJU|HUHQ&OL]]$XVGLHVHP*UXQGHZDUHQGLHHUVWHQ'DGDQJVHUVWMHW]W DQJHODQJW ,KUH %RWVFKDIWHQ NRQQWHQ DXI NHLQHP %LOGVFKLUP VLFKWEDU JHPDFKW ZHUGHQ 'LH 'DGDQJV GUFNWHQ GDVZDVVLHJHVHKHQKDWWHQGXUFKYHUVFKLHGHQH$UWHQYRQ7lQ]HQDXVXQG&RUSNRUKDWWHJHOHUQWGLHVH7lQ]H ]X YHUVWHKHQ 0HKU QRFK HU KDWWH LQ MDKUHODQJHU PKHYROOHU $UEHLW GHQ 7LHUHQ EHLJHEUDFKW GLH 7DQ]IRUPHQ YLHOIDFK]XYDULLHUHQXQGLKU$XVGUXFNVUHSHUWRLUH]XHUZHLWHUQ 'HU 5DXP ZDU GXQNHO 'LH ,QVHNWHQ ZDUHQ HV JHZ|KQW LKUH 7lQ]H LQ VWRFNGXQNOHQ XQWHULUGLVFKHQ +|KOHQ ]X YROOIKUHQ 'HU .RSIMlJHU VFKDOWHWH HLQH PLW GHU 3RVLWURQLN JHNRSSHOWH )LOPNDPHUD HLQ 'DQQ HQWQDKP HU HLQHP %HKlOWQLV HLQH HLJHQDUWLJ JHIRUPWH %ULOOH XQG VHW]WH VLH DXI 'HU ,QIUDURWYRUVDW] OLH LKQ DXJHQEOLFNOLFKHUNHQQHQZDVYRUJLQJ ,Q HLQHU IODFKHQ GXUFK NOHLQH (UGNOXPSHQ DQJHKlXIWHQ 0XOGH GUlQJWHQ VLFK HLQ SDDU WDXVHQG QLFKW HLQPDO ILQJHUQDJHOJURH ,QVHNWHQ DQHLQDQGHU 6LH EHWDVWHWHQ HLQDQGHU PLW GHQ KDXFKGQQHQ )KOHUQ XQG VFKLHQHQVLFKDXIGLHVH:HLVH,QIRUPDWLRQHQGDUEHU]XKROHQZDVLQGHU0LWWHGHU0XOGHJHVFKDK 'RUWKDWWHQGLH7LHUHHLQHHWZDKDQGJURH)OlFKHDXVJHVSDUWXQGPLWIHXFKWHU(UGHVRDXVJHIOOWGDVLH YROONRPPHQHEHQZDU $XIGLHVHU(EHQHWDQ]WHQGLH.XQGVFKDIWHUGHU'DGDQJV &RUSNRU VWDQG JHEFNW YRU GHU 0XOGH XQG YHUIROJWH VFKDUIHQ $XJHV GDV *HVFKHKHQ (LQ 9HUJU|HUXQJVYRUVDW]HUP|JOLFKWHHVLKPMHGHHLQ]HOQH%HZHJXQJ]XHUNHQQHQ )DVW HLQH 6WXQGH ODQJ WDQ]WHQ GLH ,QVHNWHQ 8QG GLH )LJXUHQ GLH VLH WDQ]WHQ EHUPLWWHOWHQ &RUSNRU

'DWHQXQG:HUWHEHUGHQ6WW]SXQNWXQGVHLQH,QVDVVHQGLHIUGLH:HLWHUIKUXQJGHV.DPSIHVYRQJURHU :LFKWLJNHLWZDUHQ 'LH 6WDWLRQ EHVWDQG DXV VLHEHQXQGYLHU]LJ *HElXGHQ GLH ]XP 7HLO PHKU RGHU ZHQLJHU VWDUN ]HUVW|UW ZDUHQ6LHEHQ%DXZHUNHZDUHQJURH.XSSHOQ(LQHGDYRQHQWKLHOW/HLWBXQG)XQN]HQWUDOH(VJDEDFKW]HKQ IODFKHUXQGH%DXWHQXQGGLHhEHUUHVWHGUHLHU7UPH'LHEULJHQ*HElXGHZDUHQUHFKWHFNLJH+DOOHQ ,P ,QQHUQ GHU 6WDWLRQ KLHOWHQ VLFK µIQI 0lQQHU DXI XQG HWZD ]ZHL RGHU GUHL 'XW]HQG .DPSIURERWHU EHIDQGHQVLFKLP(LQVDW] 6LHEHQXQGYLHU]LJ*HElXGH 'DVZDUHQGRFKEHGHXWHQGPHKUDOVHUDXVGHQ,QIRUPDWLRQHQGHU&OL]]JHVFKORVVHQKDWWH 'LHV YRU DOOHP DEHU GLH 7DWVDFKH GD ]LHPOLFK YLHOH .DPSIURERWHU LP (LQVDW] ZDUHQ PDFKWHQ HV QRWZHQGLJPHKU7LHUHHLQ]XVHW]HQDOVHUDQIDQJVJHSODQWKDWWH &RUSNRUEHJDEVLFKLQMHQHQ 7HLO GHU+|KOHLQGHPGLH5RERWHUGLH3RVLWURQLNDXIJHVWHOOWKDWWHQ'LH $XIQDKPH GHU 7lQ]H GHU 'DGDQJV ZDUHQ DXVJHZHUWHW 'HU &RPSXWHU LQ GHQ GHU .RSIMlJHU GHQ %HXGHXWXQJVNRGH GHU 7DQ]IRUPHQ HLQJHVSHLVW KDWWH KlWWH DXIJUXQG GHU ,QIRUPDWLRQHQ HLQH JHQDXH .DUWH GHV 6WW]SXQNWVDXIJH]HLFKQHW 'HU7LHUElQGLJHUVWXGLHUWHVLHDXIPHUNVDP'LHPDVWDEJHWUHXH.DUWHDXIGHUGLH/DJHXQG*U|HGHU HLQ]HOQHQ%DXZHUNHJHQDXHLQJHWUDJHQZDUHQEHVWlUNWHLKQLQVHLQHP(QWVFKOXVHLQH6WUDWHJLH]XlQGHUQ 'LH *HElXGH ZDUHQ QLFKW DOOH PLWHLQDQGHU YHUEXQGHQ =XP 7HLO VWDQGHQ VLH YHUKlOWQLVPlLJ ZHLW YRQHLQDQGHU HQWIHUQW 'DPLW HUJDE VLFK GLH 0|JOLFKNHLW PLW PHKU XQG JU|HUHQ 7LHUHQ ]X RSHULHUHQ 'LH NOHLQHUHQ5DXEWLHUHBZLH]XP%HLVSLHOGLHYLHOHQ6FKXGHQDUWHQNDPHQQLFKWVRZLHHUZDUWHW]XP=XJH'DV PRFKWHDXFKGDUDQOLHJHQGDGLH.DPSIURERWHU]XYLHOHYRQLKQHQHUOHGLJWHQ 'LHIUHLHQ)OlFKHQ]ZLVFKHQGHQHLQ]HOQHQ%DXWHQERWHQGLH0|JOLFKNHLW=DPXFFV6DXULHUXQGDXFK ,VVFK¶DDVLQJU|HUHU$Q]DKOHLQ]XVHW]HQXPGHQ6WW]SXQNWYRQDXHQKHU]XHUVWUPHQ'LH6WHLQZUIHXQG )HOVNQDFNHUKDWWHQVFKRQVRJXWH9RUDUEHLWJHOHLVWHWGDHVIUGLH*URWLHUHQLFKWVFKZLHULJVHLQGUIWHGLH :lQGHXQG7UHQGHU*HElXGH]X]HUWUPPHUQ:DUHQGLHIQI0lQQHUHLQPDOGHU'HFNXQJEHUDXEWZDUHV OHLFKWHUPLWLKQHQIHUWLJ]XZHUGHQ$XHUGHPZDUHQGLH5DXELQVHNWHQGDQQDXFKZLUNXQJVYROOHU]XP(LQVDW] ]XEULQJHQ %HLGHUELVMHW]WJHEWHQ7DNWLNZDUHQGLH9HUOXVWHEHVRQGHUVXQWHUGHQ.OHLQUDXEWLHUHQVHKUJUR'LHV ZDUJDQ]XQGJDUQLFKWLQ&RUSNRUV6LQQ$XHUGHPZUGHGHU.DPSI]XODQJHGDXHUQ8QGZHUZXWHREGLH 0lQQHUGHV6WW]SXQNWHVQLFKWZRP|JOLFKQRFK9HUVWlUNXQJYRQDXHQHUKLHOWHQ &RUSNRU VDK QRFK HLQPDO DXI GLH /DJHNDUWH 'DQQ EHJDE HU VLFK ]XP +|KOHQHLQJDQJ 1DFK HLQHP SUIHQGHQ5XQGEOLFNWUDWHULQV)UHLH hEHULKPNUHLVWHQ9|JHO8QWHULKQHQEHIDQGHQVLFKDXFK7XWXQGVHLQH$UWJHQRVVHQ &RUSNRUVWLHHLQHQ3ILIIDXV (UK|UWHHLQ)OJHOSDDUKHUDQUDXVFKHQ'DQQODQGHWHGHU0HOGHYRJHODXIVHLQHUDXVJHVWUHFNWHQ+DQG 'HU7LHUElQGLJHUEHJDQQVHLQH%HIHKOH]XEHUPLWWHOQ

'HU $QVWXUP GHU 6FKXGHQ ZDUI PLFK ]X %RGHQ 9HUJHEOLFK YHUVXFKWH LFK GLH )LQJHU PHLQHU +DQGVFKXKHIUHL]XEHNRPPHQ'DV6HNUHWGHU+DXWIOJOHUZDUYRQHLQHUXQJODXEOLFKHQ.OHEHNUDIW'DQQZDUHQ GLH6FKXGHQEHUPLU'XUFKGHQ.DPSIDQ]XJKLQGXUFKVSUWHLFKGHQ'UXFNLKUHU=lKQH1RFKZLGHUVWDQGGDV 0DWHULDOGHQ%LVVHQ:HQQDOOHUGLQJV0RUGVFKXGHQNDPHQZDUHQZLUEHLGHYHUORUHQ'HP9LEUDWRUJHELZDU QLFKWV JHZDFKVHQ ,FK NRQQWH QXU KRIIHQ GD HLQ 5RERWHU GHV :HJHV NDP XQG XQV EHIUHLWH 'RFK GLH .DPSIPDVFKLQHQVFKLHQHQGLHVH+DOOHOlQJVWDXIJHJHEHQ]XKDEHQ 6WUDKOHQGH +HOOH EOHQGHWH PLFK IU HLQHQ $XJHQEOLFN (V IROJWH HLQ VFKULOOHU 7RGHVVFKUHL (LQHV GHU 5DXEWLHUHPXWHDQGHQ$E]XJPHLQHV6WUDKOHUVJHNRPPHQVHLQ(LQ6FKXKDWWHVLFKJHO|VWXQGGHQ6FKXGHQ JHW|WHW

0LU ZXUGH KHL :LH OHLFKW NRQQWHQ GLH $QJUHLIHU GLH /DJH XQVHUHU :DIIHQ YHUlQGHUQ (LQ ]XIlOOLJ DXVJHO|VWHU6FKXNRQQWHXQVW|WHQRGHUYHUVWPPHOQ ,FKYHUVXFKWHPLFKKHUXP]XZlO]HQXPIHVW]XVWHOOHQLQZHOFKHU/DJHVLFK0RUYRQHU6SUDQJNEHIDQG (V JHODQJ PLU QLFKW 'DV *HZLFKW GHU 7LHUH GUFNWH PHLQHQ .|USHU ]X %RGHQ $XHUGHP NRQQWH LFK PHLQH %HLQHQLFKWEHZHJHQ$XFKVLHKDWWHQGLH+DXWIOJOHUYHUNOHEW 6SUDQJN´VFKULHLFKLQGDV+HLPPLNURSKRQ³6SUDQJN´ ,FKHUKLHOWNHLQH$QWZRUW:DUGHU.RPPDQGDQWWRWRGHUQXURKQPlFKWLJ" (LQHVGHU7LHUHKDWWHVLFKDXIPHLQHU%UXVWIHVWJHNUDOOW,QRKQPlFKWLJHU:XWELHVLPPHUZLHGHUDXI GLH .ODUVLFKWVFKHLEH PHLQHV +HOPHV 'RFK GLH VFKDUIHQ )lQJH JOLWWHQ DQ GHP JODWWHQ 3DQ]HUJODV DE 'DQQ VFKLHQHVGHUYHUJHEOLFKHQ9HUVXFKHPGHJHZRUGHQ]XVHLQ(VVSUDQJYRQPHLQHU%UXVWKLQXQWHU 'DGXUFK EHNDP LFK ZLHGHU HLQHQ IUHLHQ %OLFN 'RFK ZDV LFK VDK OLH PLU GDV %OXW LQ GHQ $GHUQ JHULQQHQ 'HU .|USHU GHV 6DXULHUV GHQ ZLU JHW|WHW KDWWHQ YHUGHFNWH IDVW GLH +lOIWH GHV ULHVLJHQ /RFKV GDV HU GXUFKGLH:DQGJHGUFNWKDWWH'RFKLQGHPIUHLHQ6WFNHUVFKLHQGHUJHVFKXSSWH+DOVHLQHU(FKVHGLHQLFKW YLHO NOHLQHU VHLQ NRQQWH DOV GLH JHW|WHWH 8QWHUKDOE GHU 6WHOOH DQ GHU GHU +DOV LQ GHQ EUHLWHQ PLW URVWURWHQ 6FKXSSHQ EHGHFNWHQ 5XPSI EHUJLQJ ZXFKVHQ ]ZHL VWDUN YHUNPPHUWH 9RUGHUJOLHGPDHQ KHUDXV GLH LQ .UDOOHQ PQGHWHQ 'HU .|USHU ZXUGH YRQ ]ZHL PlFKWLJHQ 6lXOHQEHLQHQ JHWUDJHQ YRQ GHQHQ LFK DXV PHLQHU 3HUVSHNWLYHKHUDXVQXUGHQREHUHQ7HLOHUNHQQHQNRQQWH 'LH (FKVH PDFKWH HLQHQ 6FKULWW QDFK YRUQ²XQG VWDQG YRU PLU 8QZLOONUOLFK KLHOW LFK GHQ $WHP DQ -HGHQ$XJHQEOLFNPXWHVLFKHLQHVGHUEDXPGLFNHQ%HLQHKHEHQXQGPHLQHQ.|USHU]HUPDOPHQ 'HU 5DFKHQ GHV 0RQVWUXPV |IIQHWH VLFK 'UHL 5HLKHQ ILQJHUODQJHU =lKQH ZXUGHQ VLFKWEDU $XV GHP 0DXOGUDQJHLQH)ROJHVHOWVDPHU*UXQ]BXQG6FKQDO]ODXWH $XJHQEOLFNOLFKZLFKGHU'UXFNYRQPHLQHP.|USHU'LH6FKXGHQVSUDQJHQKHUXQWHUXQGYHUVFKZDQGHQ DXVGHP5DXP,FKVDKZLHGHU5LHVHGLHNOHLQHQLQWHOOLJHQWZLUNHQGHQ$XJHQDXIPLFKJHKHIWHWUFNZlUWV DXVGHU+DOOHWURWWHWH 9HUEOIIWEOLFNWHLFKLKPQDFK:DVEHLDOOHQ3ODQHWHQKDWWHGDV]XEHGHXWHQ",FKYHUVFKREGLH/|VXQJ GHV 5lWVHOV DXI VSlWHU XQG ZlO]WH PLFK KHUXP 'UHL 6FKULWWH YRQ PLU HQWIHUQW ODJ 6SUDQJN (U VFKLHQ JHUDGH ZLHGHU]XVLFK]XNRPPHQ$XFKHUZDUQDFKGHPLKQGLH+DXWIOJOHUDXHU*HIHFKWJHVHW]WKDWWHQYRQGHQ 6FKXGHQ XPJHVWRHQ ZRUGHQ 'DEHL PXWH HU PLW GHP .RSI DXI HLQHQ QHEHQ LKQ LQ GHQ 5DXP UDJHQGHQ 0HWDOOKROPHQDXIJHVFKODJHQVHLQXQGKDWWHYRUEHUJHKHQGGDV%HZXWVHLQYHUORUHQ ³6SUDQJN´ULHILFKZLHGHULQV0LNURSKRQ³.|QQHQ6LH,KUH)LQJHUEHZHJHQ"´ $XV GHP +HLPVSUHFKHU NDP HLQ 6W|KQHQ 'DQQ HLQ )OXFK ,FK PXWH JULQVHQ 'HU .RPPDQGDQW ZDU ZLHGHUGHUDOWH ³(VJHKWYHUGDPPWVFKZHU$EHUHVJHKW´ ,FK EHUOHJWH ILHEHUKDIW -HGHQ $XJHQEOLFN NRQQWHQ LUJHQGZHOFKH 7LHUH HUVFKHLQHQ XQG XQV HQGJOWLJ GHQ *DUDXV PDFKHQ :LH NRQQWH PDQ GDV NOHEULJH 6HNUHW HQWIHUQHQ" ,FK EHUOHJWH ZDV VLFK DOOHV LQ GHQ 7DVFKHQPHLQHV$Q]XJVEHIDQG 'DV 5HLQLJXQJVPLWWHO ILHO PLU HLQ 8UXWH[ 6HLQH *UXQGVXEVWDQ] ZDU HLQH VFKDUIH 6lXUH 'HP 0DWHULDOGHV$Q]XJVNRQQWHVLHQLFKWVDQKDEHQ'DV6HNUHWZUGHVLHMHGRFK²VRKRIIWHLFKBDXIO|VHQ ,FKUROOWHPLFK]X6SUDQJNKLQEHUXQGPDQ|YULHUWHPLFKLQHLQH3RVLWLRQGLHGLHEHWUHIIHQGH7DVFKH VHLQHQ+lQGHQ]XJlQJOLFKPDFKWH ³9HUVXFKHQ6LHGLH7DVFKH]X|IIQHQXQGGDV8UXWH[KHUDXV]XEHNRPPHQ8QGEHHLOHQ6LHVLFK´ 'HU.RPPDQGDQWEHJDQQDQPHLQHP$Q]XJKHUXP]XQHVWHOQ8QGQDFKHLQLJHU=HLWVDJWHHU ³,FKKDEHGDV=HXJ]ZLVFKHQGHQ)LQJHUQ,FKNDQQQXUPHLQH$UPHQLFKWEHZHJHQ:DUWHQ6LH³ ,FKVDKZLHHUVLFKDXIGHQ.QLHQDXIULFKWHWH$QVFKHLQHQGKDWWHQLKQGLH)OXJWLHUHVRYHUNOHEWGDHU VHLQH)HQLFKWYRP%RGHQO|VHQNRQQWH 'RFKLFKKDWWHPHLQHQ.|USHULQ]ZLVFKHQLQHLQH/DJHJHEUDFKWGLHHVLKPHUP|JOLFKWHGDV0LWWHODXI PHLQH+DQGVFKXKHDXI]XVSUKHQ

(V]LVFKWHDOVGHUIHLQH6WUDKODXVGHU'VH6FKR 6HNXQGHQ VSlWHU NRQQWH LFK GLH )LQJHU ZLHGHU EHZHJHQ ,FK YHUlQGHUWH PHLQH 3RVLWLRQ HUQHXW XQG 6SUDQJNVSUKWHGDV8UXWH[DXIPHLQH%HLQH ,FK VWDQG DXI XQG EFNWH PLFK QDFK GHP 6WUDKOHU (UVW GDQQ QDKP LFK GDV 5HLQLJXQJVPLWWHO DXV GHQ +lQGHQ GHV .RPPDQGDQWHQ XQG EHJDQQ LQ DOOHU (LOH VHLQH )H XQG GLH +lQGH JlQ]OLFK YRQ GHP YHUKlQJQLVYROOHQ6HNUHW]XEHIUHLHQ :LU|IIQHWHQXQVHUH+HOPHUDQQWHQDQGHP.DGDYHUGHV6DXULHUVYRUEHLLQGHQ+DXSWNRUULGRUXQGGDQQ ]XP$XVJDQJ 'HU$QEOLFNGHUVLFKXQVERWZDUZHQLJHUPXWLJHQG =DKOUHLFKH *HElXGH ZDUHQ PHKU RGHU ZHQLJHU VWDUN ]HUVW|UW $XV HLQLJHQ VFKOXJHQ )ODPPHQ 'HFNHQ XQG :lQGH VWU]WHQ HLQ 'DV +DXSWJHEl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lXGHHLOWHQXQGHLQHQ%OLFNVGZlUWVZDUIHQVDKHQZLU+HUGHQULHVLJHU 7LHUHKHUDQVWUPHQ 6DXULHU =DPXFFV XQG DQGHUH VHOWVDPH 8QJHWPH GLH²ZLH LFK VSlWHU EHPHUNWH²LQ .DPSIDQ]JHQ VWHFNWHQ ³*DOD[LV´VWLH6SUDQJN]ZLVFKHQGHQ=lKQHQKHUYRU ,Q GLHVHP $XJHQEOLFN VSUDFK PHLQ )XQNJHUlW DQ 0HLQH (UOHLFKWHUXQJ ZDU JUR DOV LFK )DUWXORRQV 6WLPPHK|UWH ³$WODQ$WODQPHOGHGLFK´ ,FKDQWZRUWHWHVRIRUW ³,FKK|UHGLFK)DUWXORRQ´ =XQlFKVWYHUQDKPLFK.DPSIHVOlUP(UNODQJJHGlPSIW'DQQNDPHQ)DUWXORRQV:RUWH³(LVNUDOOHXQG LFK KDEHQ XQV LQ GHU =HQWUDOH YHUVFKDQ]W 'LH )XQN]HQWUDOH LVW YHUORUHQJHJDQJHQ 'LH 7LHUH KDEHQ IDVW DOOH *HUlWH]HUVW|UW,FKKDEHDOOHUHVWOLFKHQ5RERWHU]XU+DXSWNXSSHOEHIRKOHQ³6HLQH6WLPPHEUDFKDE,FK K|UWHHLQHQ6WUDKOVFKXGDQQGHQ7RGHVVFKUHLHLQHV7LHUHV³:HQQGLH0DVFKLQHQKLHUVLQGPDFKHQZLUHLQHQ $XVIDOO3O|W]OLFKZDUHQDOOHNOHLQHUHQ5DXEWLHUHYHUVFKZXQGHQ,FKP|FKWHZLVVHQGDVGDKLQWHUVWHFNW´ ³(LQ:HFKVHOLQGHU6WUDWHJLH´JDELFK]XU$QWZRUW³:LUKDEHQMHW]WNHLQH=HLW]XP5HGHQ9RQ6GHQ KHUNRPPWHLQJDQ]HV+HHUYRQ*URWLHUHQKHUDQ1XUQRFKHLQH)UDJH:DVLVWPLWGHP6FKLII"´ ,FKK|UWH)DUWXORRQELWWHUDXIODFKHQ³:LU NDPHQ ]X VSlW 'DV 6FKLII ZDU EHUHLWV ZLHGHU LQGHQ5DXP JHVWDUWHW´ :lKUHQG GHV KDVWLJHQ 'LDORJV ZDUHQ 6SUDQJN XQG LFKZHLWHU LQ 5LFKWXQJ +DOOH JHHLOW (LVNUDOOH KDWWH VLFKDOVRUHWWHQN|QQHQ:RDEHUZDU7LUDNR"*HUDGHZROOWHLFKHLQHHQWVSUHFKHQGH)UDJHVWHOOHQDOVZLUDXV GHU/XIWDQJHJULIIHQZXUGHQ 'HU $QJULII HUIROJWH VR VFKQHOO GD XQV NDXP QRFK GLH =HLW ]XU 9HUWHLGLJXQJ EOLHE 'LH /XIW ZDU SO|W]OLFK YRQ HLQHP %UDXVHQ XQG 7RVHQ HUIOOW (V K|UWH VLFK DQ DOV RE HLQ 5DXPVFKLII EHU XQVHUH .|SIH KLQZHJIORJ$OVZLUQDFKREHQEOLFNWHQVDKHQZLUHLQHQ6FKZDUPULHVLJHU,QVHNWHQDXIXQVKHUDEVWRHQ ³%HLDOOHQ3ODQHWHQHVVLQG%OXWKRUQLVVHQ´VFKULH6SUDQJN 2EJOHLFK PLU GLHVH 7LHUH IUHPG ZDUHQ HUNDQQWH LFK VRIRUWLKUH*HIlKUOLFKNHLW,KUHEHUHLQHQKDOEHQ

)X ODQJHQ .|USHU ZDUHQ JHSDQ]HUW XQG UHIOHNWLHUWHQ GDV 6RQQHQOLFKW $P +LQWHUOHLE JOlQ]WH VFKZDU] GHU GHXWOLFKVLFKWEDUH6WDFKHO6LHIORJHQPLWHLQHU*HVFKZLQGLJNHLWGLHGLFKWDQGHU6FKDOOPDXHUOLHJHQPXWH :LUYHUVWHOOWHQGLH6WUHXXQJXQVHUHU6WUDKOHUXQGEHJDQQHQ]XVFKLHHQ'LH9RUKXWGHU,QVHNWHQVWU]WH DE 'LH$QJUHLIHUZDUHQMHGRFKVR]DKOUHLFK GD ZLU LP IUHLHQ )HOGH NHLQH &KDQFH JHJHQ VLH KDWWHQ 'D ZLU YRP+DXSWJHElXGHQRFKLPPHU]XZHLWHQWIHUQWZDUHQEOLHEXQVQXUGHUDEHUPDOLJH5FN]XJ ³6FKQHOO´ULHILFK³]XU+DOOH]XUFNHVLVWXQVHUHHLQ]LJH&KDQFH´ :lKUHQG GHV /DXIHQV VFKRVVHQ ZLU ZLH UDVHQG NRQQWHQ MHGRFK QLFKW YHUKLQGHUQ GD XQV HLQLJH GHU 5DXELQVHNWHQHUUHLFKWHQ,FKVSUWHGDV*HZLFKWHLQHU+RUQLVVHDXIPHLQHP5FNHQ,FKULGDV9LEUDWRUPHVVHU KHUDXVXQGVWLH]X'DV,QVHNWILHOYRQPLUDE*OHLFK]HLWLJKDWWHLFKPLFK]X%RGHQIDOOHQODVVHQXQGPLFK KHUXPJHUROOWXPGHQDQJUHLIHQGHQ7LHUHQ]XHQWJHKHQ 'DV WRVHQGH *HUlXVFK GHU PLFK XPVFKZLUUHQGHQ ,QVHNWHQ PDFKWH PLFK IDVW WDXE $XI GHP 5FNHQ OLHJHQGVHW]WHLFKGHQ6WUDKOHUHLQ0HKUHUH5HLKHQGHU)OXJWLHUHVWU]WHQWRW]X%RGHQ )UHLQHQ$XJHQEOLFNKDWWHQZLU/XIW:LUHUUHLFKWHQGLH+DOOH:lKUHQG6SUDQJNGLHQDFKGUlQJHQGHQ ,QVHNWHQDEZHKUWHVFKDOWHWHLFKGDV)XQNJHUlWZLHGHUHLQXQGVSUDFK ³)DUWXORRQZLUZHUGHQYRQ%OXWKRUQLVVHQDQJHJULIIHQ:LUNRPPHQQLFKWGXUFK´ )DUWXORRQDQWZRUWHWHVRIRUW³,FKVFKLFNHHXFK.DPSIURERWHU6LHZHUGHQHXFKKHUDXVKDXHQ´ ,FKVFKDOWHWHDEXQGEOLFNWH]X6SUDQJNKLQEHUGHURIIHQVLFKWOLFK0KHKDWWHGHQ(LQJDQJGHU+DOOH JHJHQGLHXQJHKHXHUVFKQHOOHQ,QVHNWHQ]XYHUWHLGLJHQ(VZUGHQLFKWODQJHGDXHUQELVGLH.DPSIURERWHUKLHU ZDUHQ7URW]GHPNRQQWHHVGDQQEHUHLWV]XVSlWVHLQ'LH9RUKXWGHUYRQ6GHQKHUDQVWUPHQGHQ7LHUHKDWWH GHQ6WW]SXQNWEHUHLWVHUUHLFKW.UDFKHQGH*HUlXVFKHEHZLHVHQHV]XU*HQJH :lKUHQG LFK HLQHQ $QJUHLIHU QDFK GHP DQGHUHQ DEVFKR VXFKWHQ PHLQH $XJHQ GHQ +LPPHO DE 6FKOLHOLFKIDQGLFKZDVLFKVXFKWH (WZD ]ZHLKXQGHUW 6FKULWW EHU GHP (UGERGHQ LQPLWWHQ HLQHV 3XONV YRQ :lFKWHUQ GLH QDKH]X XQEHZHJOLFK LQ GHU /XIW YHUKDUUWHQ VWDQG HLQ WRUSHGRI|UPLJHU /HLE DXI¶ HVVHQ JUQZHLHQ 5LQJHQ VLFK .UDXPRQV6RQQHVSLHJHOWH 'LH.|QLJLQ ³6SUDQJNJHEHQ6LHPLU)HXHUVFKXW]´VDJWHLFK'HU.RPPDQGDQWZDUIHLQHQYHUZXQGHUWHQ%OLFN]X PLUKHUEHUXQGPXUPHOWH³6HOEVWYHUVWlQGOLFK´ ,FKYHUlQGHUWHGLH6WUHXXQJPHLQHV6WUDKOHUVXQG]LHOWHVRUJIlOWLJ'DQQNUPPWHLFKGHQ=HLJHILQJHU (LQ6WUDKOHQILQJHU6FKRLQGHQEODXBYLROHWWHQ+LPPHOHPSRU=ZHLKXQGHUW6FKULWWEHUXQVHQWVWDQG HLQ JOHLHQGHU %DOO 5DXFK EUHLWHWH VLFK QDFK DOOHQ 6HLWHQ DXV $OV HU VLFK YHU]RJHQ KDWWH ZDU GHU JOLW]HUQGH 7RUSHGROHLEYHUVFKZXQGHQXQGPLWLKPHLQJXWHV'XW]HQGGHU:lFKWHU 0HLQ6FKXKDWWHYHUEOIIHQGH)ROJHQ'LH$QJULIIHGHU%OXWKRUQLVVHQOLHHQDXJHQEOLFNOLFKQDFK,FK VDK ZLH GHU 6FKZDUP LQ GHU /XIW XUSO|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lPSIHQGHU7LHUHXQWHUHLQDQGHU 'LH =DPXFFV DQVFKHLQHQG IUFKWHWHQ VLH GHQ )HLQG DXV GHU /XIW DP PHLVWHQ²PDFKWHQ NHKUW XQG VWREHQ LQ ZLOGHU)OXFKWGDYRQ 'HU$QJULIIGHU7LHUHVFKLHQ]XP6WHKHQ]XNRPPHQ 1HEHQPLUJHZDKUWHLFKHLQHQ6FKDWWHQ$OVLFKKLQEOLFNWHVDKLFKHLQHURVWURWH(FKVHLQULHVLJHQ6lW]HQ QDFK6GHQUDVHQ(VZDUGDVVHOEH7LHUGDVLFKEHUHLWVPHKUPDOVJHVHKHQKDWWH

,FK ZDU LP %HJULII GDV )XQNJHUlW HLQ]XVFKDOWHQ XP )DUWXORRQ EHU GHQ QHXHQ 6WDQG GHU /DJH ]X EHULFKWHQDOVHLQ6FKZDUPULHVLJHU)DOWHUDQXQVYRUEHUVFKZHEWH 6LHIORJHQODQJVDP6RNRQQWHLFKVLHPLUJHQDXDQVHKHQ,KU.|USHUZDUGUHLIDFKXQWHUWHLOWXQGEHVD YLHU%HLQH$P+LQWHUOHLEEHIDQGVLFKHLQODQJHUELHJVDPHU/HJHVWDFKHO'LH6SDQQZHLWHLKUHUWUDSH]I|UPLJHQ )OJHOEHWUXJJXWXQGJHUQ]ZHL)X$QGLHVHQ)OJHOQOHXFKWHWHQHLJHQDUWLJHJHRPHWULVFKH2UQDPHQWHLQGHQ KHUUOLFKVWHQ)DUEHQ )DV]LQLHUWVWDUUWHLFKDXIGLHIOLHHQGHQ/LQLHQ.UHLVHXQG'UHLHFNH6LHZXUGHQJU|HUVFKLHQHQVLFK YRQGHQIODWWHUQGHQ)OJHOQ]XO|VHQXQGNDPHQDXIPLFK]X &RUSNRUV *HVLFKW YHU]HUUWH VLFK YRU :XW 0LW GHU JHEDOOWHQ )DXVW VFKOXJ HU DXI GLH 6FKDOWSODWWH 'HU 6FKLUPDXIGHPGLH,QIRUPDWLRQHQGHU&OL]]VLFKWEDUJHPDFKWZXUGHQHUORVFK 'HU.RSIMlJHUGXUFKTXHUWHGLH+|KOHXQGWUDWLQV)UHLH 'LH .|QLJLQ GHU %OXWKRUQLVVHQ ZDU WRW 1LFKW QXU GDV 'LH ,QVHNWHQ IKUHUORV JHZRUGHQ KDWWHQ VLFK JHJHQGLH+HUGHJHZDQGW'HU$QJULIIZDULQV6WRFNHQJHNRPPHQ 'DEHL KDWWH DOOHV VR JXW DXVJHVHKHQ 'LH ,QIRUPDWLRQHQ GLH HU ODXIHQG HUKLHOW KDWWHQ JH]HLJW GD GHU )HLQG LQ lXHUVWH %HGUlQJQLV JHUDWHQ ZDU (V VFKLHQ QXU QRFK HLQH )UDJH GHU =HLW ZDQQ GLH 6WDWLRQ PLWVDPW LKUHQ,QVDVVHQYHUQLFKWHWZXUGH 'LHIQI0lQQHUZDUHQLQGUHL*UXSSHQDXIJHVSDOWHQ(LQHUYRQLKQHQZDUZDKUVFKHLQOLFKWRW&RUSNRU KDWWHEHUHLWV%RWHQDXVJHVDQGWGLHGDIU6RUJHWUDJHQVROOWHQGDIDOOVGHU.ULVWDOOSULQ]XQG)DUWXORRQJHW|WHW ZXUGHQZHQLJVWHQVLKUH.|SIHXQEHVFKlGLJWEOLHEHQ 'DV%ODWWKDWWHVLFKXQYHUVHKHQVJHZHQGHW &RUSNRUEOLFNWHEHUGDV+RFKWDOKLQZHJQDFK2VWHQ (UPXWHHWZDVWXQ $P+LPPHOHUVFKLHQHLQNOHLQHU3XQNWZXUGHJU|HU(LQUDVFKHV)OJHOSDDU6FKRKHUDE7XWODQGHWH DXIGHU6FKXOWHUVHLQHV+HUUQ(UEHJDQQ]XNUlFK]HQXQG]XJXUUHQ 'DV*HVLFKWGHV.RSIMlJHUVEHJDQQVLFKZLHGHUDXI]XKHOOHQ =ZHLYRQGHQ0lQQHUQZDUHQGHQ7XOKB)DOWHUQ]XP2SIHUJHIDOOHQ:HLRGHUGHQ9RUIDOOEHREDFKWHW KDWWHKDWWHHLQLJHGHUZDUWHQGHQ,VVFK¶DDVPRELOLVLHUWXPGLH+\SQRWLVLHUWHQKLHUKHU]XEULQJHQ ³*XWJHPDFKW´VDJWH&RUSNRUODXW(UVWULFKEHUGDV*HILHGHUGHV9RJHOV7XWHUKREVLFKYRQVHLQHU 6FKXOWHUXQGIORJ]XUFNXPPLWVHLQHQVFKDUIHQ$XJHQGDVZHLWHUH*HVFKHKHQLP7DO]XEHREDFKWHQ (LQHUGHU]ZHLNRQQWHGHU.ULVWDOOSULQ]VHLQGDFKWHGHU.RSIMlJHUDOVHULQGLH+|KOH]XUFNJLQJ'HU 6RKQ*RQR]DOVXQGGHUDUNRQLGLVFKH2IIL]LHUZDUHQYRQGHQ)DFHWWHQDXJHQGHU&OL]]PHKUHUH0DOHLP)UHLHQ HUIDWZRUGHQ)DUWXORRQGDJHJHQKDWWHVLFKDXIGLH9HUWHLGLJXQJGHU+DXSWNXSSHONRQ]HQWULHUWµ 1XQHVZUGHVLFK]HLJHQ&RUSNRU]ZHLIHOWHQLFKWGDUDQGDHULQ.U]H$XIVFKOXEHUGLH,GHQWLWlW GHUEHLGHQ+\SQRWLVLHUWHQHUKDOWHQZUGH(LQLJHGHU&OL]]KDWWHQPLW6LFKHUKHLWGHQ9RUJDQJEHREDFKWHWXQG GLH8PVWlQGHXQWHUGHQHQHVGD]XJHNRPPHQZDUJHVSHLFKHUW &RUSNRUWUDWDQGLH3RVLWURQLNXQGVSUDFKHLQHQ%HIHKOLQGDV0LNURSKRQ (VGDXHUWHQXUZHQLJH$XJHQEOLFNHGDHUKHOOWHVLFKGHU,QIRUPDWLRQVVFKLUPXQGGLHHLJHQWPOLFKIODFK ZLUNHQGHQhEHUWUDJXQJVELOGHUGHU&OL]]HUVFKLHQHQ *HVSDQQWEHXJWHVLFKGHU7LHUElQGLJHUYRU 'HU5HFKQHUKDWWHVHLQH$XVZDKOJHWURIIHQ$XIGHP6FKLUPHUVFKLHQHLQ7HLOGHV6WW]SXQNWV&RUSNRU ZDUI HLQHQ %OLFN DXI GLH 6NL]]H GLH GHU &RPSXWHU YRQ GHU 6WDWLRQ HQWZRUIHQ KDWWH (V KDQGHOWH VLFK XP HLQ $UHDOGDVVLFK]ZLVFKHQGHP+DXSWJHElXGHXQGHLQHU/DJHUKDOOHEHIDQG =ZHL 0lQQHU HLOWHQ EHU GDV )HOG 6LH EHZHJWHQ VLFK LQ 5LFKWXQJ +DXSWJHElXGH DOV HLQ 6FKZDUP 7XOKB)DOWHUDXIWDXFKWH&RUSNRUVDKZLHGLHLQGHU1lKHEHILQGOLFKHQ7LHUHGDYRQVWREHQ6LHPLHGHQGHQDXFK

DXIVLHZLUN6DPHQ(LQIOXGHU+\SQRB2UQDPHQWH1XUGLH,QVHNWHQXQGGLH0HWKDQWLHUHZDUHQGDJHJHQJHIHLW 'LHEHLGHQ0lQQHUEOLHEHQVWHKHQXQGEOLFNWHQ]XGHQ)DOWHUQHPSRU 'HU.RSIMlJHUOlFKHOWHVDUGRQLVFK 'LHEHLGHQ0lQQHUDKQWHQQLFKWZHOFKH)ROJHQLKUH%OLFNHKDEHQZUGHQ 'LH QlFKVWHQ%LOGHUVWDPPWHQYRQ&OL]]GLHVLFKQlKHUDP2UWGHV*HVFKHKHQVEHIXQGHQ KDWWHQ 'LH *HVLFKWHUGHU2SIHUZDUHQµMHW]WJXW]XHUNHQQHQ(VKDQGHOWHVLFKLQGHU7DWXPGHQDUNRQLGLVFKHQ2IIL]LHUXQG XPMHQHQMXQJHQ0DQQYRQGHP&RUSNRUIHVWJODXEWHGDHVGHU.ULVWDOOSULQ]ZDU 'LH0lQQHUVWDQGHQIHVWLP%DQQHGHU+\SKRB2UQDPHQWH'HU2IIL]LHUKDWWHVHLQHQ6WUDKOHUEHUHLWVDXI GHQ %RGHQ JHOHJW 'HU MXQJH 0DQQ KLHOW VHLQH :DIIH PLW GHU 0QGXQJ ]XP %RGHQ 'LH %HZHJXQJHQ GHU 0lQQHU]HLJWHQ8QVFKOVVLJNHLW,KUH%OLFNHVFKLHQHQLQV/HHUHJHULFKWHW $XI GHP %LOG HUVFKLHQHQ SO|W]OLFK /LQLHQ XQG .UHLVH )U NXU]H =HLW ZDU GLH :LHGHUJDEH VWDUN YHUVFKZRPPHQ 'HU %OLFNZLQNHO lQGHUWH VLFK 'HU 5HFKQHU KDWWH DQGHUH &OL]]B,QGLYLGXHQ DOV ,QIRUPDWLRQVWUlJHU DXVJHZlKOW 'LH EHLGHQ 0lQQHU PDUVFKLHUWHQ PLW VWHLIHP 2EHUN|USHU XQG HFNLJ ZLUNHQGHQ %HZHJXQJHQ DXI HLQ LPDJLQlUHV=LHOLP1RUGZHVWHQGHV7DOHV]X $XILKUHP.|USHUVDHQPHKUHUH7XOK&RUSNRUVDKZLHVLHGHQ+LQWHUOHLENUPPWHQXPLKUHQ2SIHUQ GHQ/HJHVWDFKHOLQGHQ.|USHU]XERKUHQ'RFKVFKHLWHUWHGDVDQGHP0DWHULDOGHU.DPSIDQ]JH 'DQQJHVFKDKHQ]ZHL'LQJH]XJOHLFKGLHGHQ9RUJlQJHQHLQHGUDPDWLVFKH:HQGXQJJDEHQ 9RQ6GHQWHHUHUVFKLHQHLQ5XGHOµ,VVFK¶DDV'LH0HWKDQWLHUHGLHLQLKUHQXQI|UPLJHQ6FKXW]DQ]JHQ RKQHKLQ VFKRQ HLQHQ SKDQWDVWLVFKHQ $QEOLFN ERWHQ ZLUNWHQ DXV GHU )DFHWWHQSHUVSHNWLYH GHU &OL]]DXJHQ ZLH 8QJHKHXHUDXVHLQHP$OSWUDXP 'LH ULHVLJHQ 7LHUH EHZHJWHQ VLFK XQWHU GHQ QLHGULJHQ 6FKZHUNUDIWYHUKlOWQLVVHQ PLW VSLHOHULVFKHU /HLFKWLJNHLW 'LH GUHLHFNLJHQ .|SIH PLWVDPW GHQ 5VVHOQ XQWHU GHQ 6FKXW]KDXEHQ YHUERUJHQ VWUPWHQ VLH KHUDQ=ZHLYRQLKQHQXPVFKODQJHQGLHEHLGHQ0lQQHUPLWLKUHQ*UHLIVFKZlQ]HQXQGULVVHQVLHDQVLFK =XUJOHLFKHQ=HLWZDUDXIGHU.DPSIVWDWWHLQH5RWWH.DPSIURERWHUHUVFKLHQHQGHU5HFKQHU KDWWH XP GDV*HVFKHKHQGHXWOLFKHUZLHGHU]XJHEHQHLQHQ]ZHLWHQ0RQLWRUGD]XJHVFKDOWHW 'LH5RERWHUHU|IIQHWHQVRIRUW GDV)HXHU(LQLJHGHUµ,VVFK¶DDVEUDFKHQ]XVDPPHQ'DUXQWHUGDV7LHUGDVGHQDUNRQLGLVFKHQ2IIL]LHUHUJULIIHQ KDWWH 'LH 0HWKDQWLHUH HUKLHOWHQ 8QWHUVWW]XQJ GXUFK =DPXFFV XQG 5DXEVDXULHU GLH GLH 5RERWHU YRQ KLQWHQ DQJULIIHQ 'DGXUFK NRQQWH GDV 7LHU GDV GHQ YHUPXWOLFKHQ .ULVWDOOSULQ]HQ HUEHXWHW KDWWH HQWNRPPHQ (V VWUPWHYRQHLQLJHQ$UWJHQRVVHQEHJOHLWHWLQQRUGZHVWOLFKHU5LFKWXQJGDYRQ 'HU.RSIMlJHUDWPHWHDXI 1LFKWPHKUODQJHGDQQVWDQGHUGHP*HIDQJHQHQJHJHQEHU'DQQZUGHHVVLFKHQGJOWLJ]HLJHQRE GHUMXQJH0DQQGHU6RKQGHVWRWHQ,PSHUDWRUVZDU

,FKVWDQGDXIHLQHU:LHVH(LQHOHLFKWH%ULVHZHKWHGDUEHUKLQZLHJWHGLH6WHQJHOGHU%OXPHQ(LQLJH GHU%OWHQYRUPHLQHQ$XJHQZDUHQYRQXQEHVFKUHLEOLFKHU6FK|QKHLW'LHZHLWJH|IIQHWHQ.HOFKHZDUHQYRQ %OWHQEOlWWHUQ XPVWDQGHQ GLH LQ YLROHWWHQ JHOEHQ XQG URWHQ )DUEHQ OHXFKWHWHQ (LQH /RFNXQJ JLQJ YRQ GHQ %OXPHQDXVGHULFKQLFKW]XZLGHUVWHKHQYHUPRFKWH /DQJVDPJLQJLFKDXIVLH]X $OVLFKQDFKGHQ%OXPHQJULIIZLFKHQVLH]XUFN,FKIROJWHLKQHQXQGVLHVFKZHEWHQYRUPLUKHUGXUFK GDV*UDV ,FKEOLFNWH]XU6HLWH(LQSDDU6FKULWWHYRQPLUHQWIHUQWVWDQGHLQ0DQQ(UNDPPLUEHNDQQWYRUXQGLFK GDFKWHDQJHVWUHQJWGDUEHUQDFKZLHHUKLH1DFKHLQHU:HLOHILHOPLUVHLQ1DPHHLQ0RUYRQHU6SUDQJN(U KDWWHHLQHQ6WRFNLQGHU+DQGGHQHUMHW]WDXIGHQ%RGHQOHJWH

,FK VWHOOWH IHVW GD LFK DXFK HLQHQ VROFKHQ 6WRFN EHVD 6ROOWH LFK LKQ DXFK LQ GDV *UDV OHJHQ" ,FK EHWUDFKWHWHLKQXQVFKOVVLJ9LHOOHLFKWGDFKWHLFKZUGHLFKLKQQRFKEUDXFKHQ 3O|W]OLFKVSUWHLFKHLQHQVDQIWHQ'UXFNDXIPHLQHP.|USHU(LQLJHGHUOHXFKWHQGHQ%OWHQKDIWHWHQDQ PHLQHP$Q]XJ:lKUHQGLFKZHLWHUVFKULWWVSUWHLFKZLHGLH%OWHQYHUVXFKWHQPLWLKUHP6WHQJHOLQPHLQHQ .|USHUHLQ]XGULQJHQ,FKEHUOHJWHZLHLFKHVLKQHQOHLFKWHUPDFKHQNRQQWH 9LHOOHLFKW VROOWH LFK PHLQHQ +HOP |IIQHQ" :R]X ZDUGLHVHU +HOP EHUKDXSW JXW" 'LH /XIW DXI GLHVHU :HOWZDUVLFKHUDWHPEDU$OVRZDUHVXQVLQQLJGDV2[\JHQDXVGHP$Q]XJ]XDWPHQ ,UJHQGHWZDVLQPHLQHP,QQHUQVDJWH:HQQGXGHQ+HOP|IIQHVWELVWGXYHUORUHQ ,FK ]|JHUWH 'DQQ ZXUGH LFK DEJHOHQNW ,FK K|UWH GHQ :LUEHO QDFNWHU )H LP *UDV $OV LFK PLFK XPZDQGWH JHVFKDK HWZDV 6HOWVDPHV )U HLQHQ NXU]HQ $XJHQEOLFN JODXEWH LFK HLQH +RUGH VHFKVEHLQLJHU 0RQVWUHQDXIPLFK]XJDORSSLHUHQ]XVHKHQ'RFKGDQQHUNDQQWHLFKGDLFKPLFKJHWlXVFKWKDWWH(LQH*UXSSH )UDXHQ YRQ H[RWLVFKHU 6FK|QKHLW HLOWH DXI PLFK ]X ,KU VFKZDU]HV ODQJHV +DDU ZHKWH LP :LQG 6LH OlFKHOWHQ YHUIKUHULVFKXQGVWUHFNWHQLKUH+lQGHQDFKPLUDXV ,FK YHUVSUWH GHQ XQZLGHUVWHKOLFKHQ :XQVFK LKQHQ QDFK]XJHEHQ 3O|W]OLFK IKOWH LFK ZLH LFK KRFKJHKREHQ XQG GDYRQJHWUDJHQ ZXUGH (V ZDUHQ MHGRFK JDU NHLQH )UDXHQ GLH PLFK WUXJHQ ,FK KDWWH PLFK DEHUPDOVJHWlXVFKW'DKRQGUDB%|FNHMDJWHQDXIVFKQHOOHQ+XIHQEHUGLH6WHSSH(LQHU YRQ LKQHQWUXJPLFK DXIVHLQHP5FNHQ (LQ GXPSIHU 7RQ GUDQJ DQ PHLQ 2KU ,FK ZDQGWH GHQ .RSI ,Q GHU )HUQH VWDQGHQ KRKH PHWDOOHQ EOLW]HQGH*HVWDOWHQ9RQLKQHQO|VWHQVLFKEXQWH.XJHOQ6LHIORJHQGLFKWEHUXQVHUH.|SIHKLQZHJ$OVLFK ]XU 6HLWH VFKDXWH HUEOLFNWH LFK 0RUYRQHU 6SUDQJN $XFK HU ULWW DXI HLQHP 'DKRQGUD 'RFK LFK VDK ZLH GLH %HLQHGHV7LHUHVHLQNQLFNWHQXQG6SUDQJNYRQVHLQHP5FNHQKHUXQWHUILHO /D GLFK DXI GHQ %RGHQ IDOOHQ QRFK LVW HV =HLW GD]X VDJWH GLH 6WLPPH LQ PLU ,FK EOLFNWH DXI GHQ 6WHSSHQERGHQEHUGHQGLH+XIHPHLQHV5HLWWLHUVKLQZHJGRQQHUWHQ'HU6WRFNJOLWWPLUDXVGHU+DQG'DV7LHU YHUGRSSHOWHVHLQH*HVFKZLQGLJNHLWXQG3IODQ]HQXQG%VFKHZXUGHQ]X6WULFKHQ 1DFK HLQHU :HLOH lQGHUWH VLFK GLH /DQGVFKDIW 'LH %VFKH ZXUGHQ JU|HU XQG JLQJHQ VFKOLHOLFK LQ :DOGEHUDQGHVVHQ)ODQNHQVLFKYRQEHLGHQ6HLWHQ%HUJHKHUDQVFKREHQ ,FKVSUWHHLQHQGXPSIHQ'UXFNLP.RSIGHUVFKQHOOVWlUNHUZXUGH'DQQZDUPLUDOVRELQPHLQHP ,QQHUQ HLQ 9RUKDQJ ]HUUL 'DV *HIKO GD HWZDV QLFKW LQ 2UGQXQJ ZDU GUDQJ LQ PHLQ %HZXWVHLQ (WZDV EHPHUNWH LFK KLHOW PLFK IHVW XPNODPPHUW XQG WUXJ PLFK PLW JURHU *HVFKZLQGLJNHLW KLQZHJ JHJHQ PHLQHQ :LOOHQ *HJHQPHLQHQ:LOOHQ" 0LWHLQHP6FKODJEHUILHOPLFKGLH(ULQQHUXQJ'HU.DPSIGHU7LHUHXPGLH6WDWLRQ'HU$QJULIIZDU LQV6WRFNHQJHNRPPHQDOVLFKGLH.|QLJLQGHU%OXWKRUQLVVHQJHW|WHWKDWWH'DQQDOV6SUDQJNXQGLFKDXIGHP :HJH]XU+DXSWNXSSHOZDUHQZDULUJHQGHWZDVJHVFKHKHQ 'LH )DOWHU 'LH EXQWH 2UQDPHQWLN LKUHU 7UDSH]IOJHO 6HLW GHP $XJHQEOLFN DOV LFK DXI GLH IDUELJHQ /LQLHQXQG.UHLVHJHVFKDXWKDWWHVHW]WHPHLQH(ULQQHUXQJDXV'DIUJDEHVQXUHLQHHLQ]LJH(UNOlUXQJ9RQ GHQ)DOWHUQJLQJHQK\SQRBVXJJHVWLYH.UlIWHDXV ,FKGUHKWHGHQ.RSIHLQZHQLJXPIHVW]XVWHOOHQZDVIUHLQ7LHUGDVZDUGDVPLFKYHUVFKOHSSWH8QG LFK HUNDQQWH GD HV HLQHV MHQHU 0RQVWUHQ ZDU GLH VLFK XQWHU GHQ YRQ 6GHQ KHUDQVWUPHQGHQ *URWLHUHQ EHIXQGHQKDWWHQ (LQ7LHULUU6FKXW]DQ]XJ 'DV NRQQWH QXU EHGHXWHQ GD HV NHLQ 6DXHUVWRIIDWPHU ZDU 9LHOOHLFKW VWDPPWHQ GLH 7LHUH YRQ HLQHU $PPRQLDN0HWKDQB:HOW,QGLHVHP)DOOHPWHLFKHLQH&KDQFHKDEHQPLFK]XEHIUHLHQ:HQQHVPLUJHODQJ GHQ6FKXW]DQ]XJ]XEHVFKlGLJHQZUGHGDV7LHULQGHU2[\JHQB$WPRVSKlUHVWHUEHQ ,FK EHZHJWH PHLQH +lQGH XQG YHUVXFKWH DQ GDV 9LEUDWRUPHVVHU ]X JHODQJHQ 0HLQH $UPH VWHFNWHQ MHGRFKZLHLQHLQHUVWlKOHUQHQ=ZLQJHXQGLFKPXWHPHLQ9RUKDEHQDXIJHEHQ ,FKZXWHQLFKWZLHODQJHPHLQHXQIUHLZLOOLJH5HLVHVFKRQGDXHUWH'HQ/DQGVFKDIWVIRUPHQQDFKPXWH LFK PLFK EHUHLWV ]LHPOLFK ZHLW YRP 6WW]SXQNW HQWIHUQW KDEHQ ,FK YHUVXFKWH GHQ .RSI QRFK ZHLWHU

KHUXP]XGUHKHQXPKHUDXV]XILQGHQREDXFK6SUDQJNYRQGHQ0HWKDQWLHUHQJHIDQJHQZRUGHQZDU$EHUGDQQ ILHOHQ PLU GLH +DOOX]LQDWLRQHQ HLQ GLH LFK ZlKUHQG PHLQHU 7UDQFH JHKDEW KDWWH ,FK HULQQHUWH PLFK ZLH 6SUDQJNV5HLWWLHUYRQ0HWDOOZHVHQHUOHJWZRUGHQXQG6SUDQJN]X%RGHQJHIDOOHQZDU:HQQPDQGHQ%LOGHUQ *ODXEHQ VFKHQNHQ GXUIWH VR KDWWHQ .DPSIURERWHU GDV 0HWKDQWLHU GDV LP %HJULII ZDU 6SUDQJN ]X YHUVFKOHSSHQJHW|WHWXQGGHU.RPPDQGDQWZDUYRQGHQ0DVFKLQHQEHIUHLWZRUGHQ ,FK JODXEWH ]X ZLVVHQ ZRKLQ PLFK GLH 7LHUH YHUVFKOHSSWHQ %DOG ZUGH LFK GHPMHQLJHQ JHJHQEHUVWHKHQ GHU GLHVHQ $QJULII RUJDQLVLHUWH ,FK ZDU PLU QXQPHKU ]LHPOLFK VLFKHU GD HV HLQ HLQ]LJHU 0DQQZDUXQG]ZDUMHQHU$UNRQLGHGHQZLUPLWGHQ5HSDUDWXUURERWHUQ]XVDPPHQJHVHKHQKDWWHQ:HQQGLHV ]XWUDIZUGHLFKVRKRIIWHLFK]XYHUVLFKWOLFK0LWWHOXQG:HJHILQGHQPLWGHP0DQQIHUWLJ]XZHUGHQ :DUXPIUDJWHLFKPLFKKDWWH)DUWXORRQHLJHQWOLFKQLFKWYHUVXFKWIHVW]XVWHOOHQREVLFKLQGHQ%HUJHQ QLFKWMHPDQGYRQGHU%HVDW]XQJGHVLQGHQ5DXPJHIORKHQHQ6FKLIIHVYHUVWHFNWKLHOW"'HQ.DPSIURERWHUQGLH GDV 6FKLII YHUQLFKWHQ VROOWHQ ZlUH GLHV HLQ OHLFKWHV JHZHVHQ 1XQ YHUPXWOLFK KDWWH GHU %DXFKDXIVFKQHLGHU XQWHUGHP'UXFNGHV.DPSIHVQLFKWPHKUGDUDQJHGDFKW ,FKVFKlW]WHGDVHLWGHP=HLWSXQNWDQGHPLFKDXVPHLQHUK\SQRWLVFKHQ7UDQFHHUZDFKWZDUPHKUDOV HLQH6WXQGHYHUJDQJHQZDUDOVYRUPHLQHQ$XJHQ%HUJZlQGHDXIWDXFKWHQ'DV*HWUDSSHOGHU7LHUHNODQJMHW]W KRKO(LQ=HLFKHQGDDXFKDXIGHUDQGHUHQ6HLWH%HUJHZDUHQ:LUZDUHQLQHLQ7DOHLQJHGUXQJHQ9LHOOHLFKW ZDUHVDXFKHLQH6FKOXFKW 'LH $XHQPLNURSKRQH²PHLQ +HOP ZDU QRFK LPPHU JHVFKORVVHQ²EHUWUXJHQ GDV *HSOlWVFKHU HLQHV )OXVVHV,FKHULQQHUWHPLFKDQGLH%LOGHUGHU5RERWNDPHUDV:LUPXWHQEDOGDP=LHOVHLQ 'HU UDVHQGH *DORSS YHUODQJVDPWH VLFK 6FKOLHOLFK NDP HU JDQ] ]XP 6WLOOVWDQG 9RU PHLQHP *HVLFKWVNUHLVUDJWHHLQHPLW%XVFKZHUNXQG*UDVEHZDFKVHQH)HOVZDQG8QGDOVLFKPHLQHQ.RSIHWZDV]XU 6HLWHGUHKWHHUEOLFNWHLFKHLQHQ7HLOHLQHV+|KOHQHLQJDQJV +LQWHU PLU HUW|QWH HLQH 6WLPPH XQG REZRKO GLH /DXWH GLH VLH DXVVWLH UHLQ WLHULVFKHU 1DWXU ]X VHLQ VFKLHQHQZXWHLFKGDVLHHLQHP0HQVFKHQJHK|UWH 'LHHLVHUQH.ODPPHUGLHPLFKIHVWKLHOWORFNHUWHVLFK$OVLFK%RGHQXQWHUGHQ)HQVSUWHGUHKWHLFK PLFKXPXQGQDKPPLWHLQHPVFKQHOOHQ%OLFNGLH6]HQHLQPLFKDXI 'DV 0HWKDQWLHU DQ PHLQHU 6HLWH ZDU JXW XQG JHUQH ]HKQ )X KRFK 'HU 6FKXW]DQ]XJ XQWHUVWULFK GDV 0RQVWU|VH 8QI|UPLJH GHV :HVHQV 'LH 6FKXW]KDXEH GXUFK GHUHQ 6HKVFKOLW]H LFK QLFKWV DOV HLQ 3DDU U|WOLFK IXQNHOQGH $XJHQ DXVPDFKHQ NRQQWH EHVD DP YRUGHUHQ (QGH HLQHQ ODQJ KHUXQWHUKlQJHQGHQ KLQB XQG KHUSHQGHOQGHQ $XVZXFKV 'DULQ VFKLHQ VLFK HLQ 5VVHO ]X YHUEHUJHQ $XV GHU .UXSSH ZXFKV HLQ ODQJHU VFKHQNHOGLFNHU *UHLIVFKZDQ] 'LH 6FKXW]KOOH GLH LKQ XPVFKOR YHUULHW QLFKWV EHU VHLQH %HVFKDIIHQKHLW :HOFKH.UDIWLQLKPZRKQWHKDWWHLFKMHGRFK]XU*HQJHIHVWVWHOOHQN|QQHQ 6FKUlJKLQWHUGHP7LHUJHJHQEHUGHP+|KOHQHLQJDQJVWDQGPLWHLQHP6WUDKOHUEHZDIIQHWHLQ0DQQ (VZDUZLHLFKJHDKQWKDWWHGHUVHOEHGHQLFKYRQGHQ%LOGHUQKHUEHUHLWVNDQQWH6HLQ*HVLFKWZLUNWHMHW]WGD LFKHVYRQQDKHPEHWUDFKWHQNRQQWHZRP|JOLFKQRFKGVWHUHUQRFKYHUVFKORVVHQHUDOVYRUKHU$OVGHU0DQQ ]XVSUHFKHQDQILQJYHU]RJHQGLH%UDQGQDUEHQGHQXQWHUHQ7HLOVHLQHV*HVLFKWHV]XHLQHQ*ULPDVVH ³'HU 6RKQ *RQR]DOV ,FK GDFKWH HV PLU´ (U VSUDFK DUNRQLGLVFK GRFK PLW HLQHP XQJHZ|KQOLFK JXWWXUDOHQ$N]HQW'LHVHU0DQQPXWHQXUPLW7LHUHQ]XVDPPHQJHOHEWKDEHQ1LFKWQXUGLH6SUDFKHYHUULHWHV $XFKVHLQH*HVWHQVHLQH0LPLNMDVHLQJDQ]HU+DELWXVVFKLHQJHSUlJWYRPHQJHQ8PJDQJPLW7LHUHQXQG² YRQGHP)HKOHQIDVWMHJOLFKHQ.RQWDNWVPLWVHLQHQ0LWPHQVFKHQ (UKDWWHPLFKHUNDQQWXQGVHLQH:RUWHOLHHQGDUDXIVFKOLHHQGDHUDXFKPHLQHQ9DWHUJHNDQQWKDWWH (V JDOW KHUDXV]XILQGHQ ZLH JXW HU LKQ JHNDQQW KDWWH XQG ZHOFKH 0HLQXQJ HU YRQ LKP KDWWH ,FK KLHOW HV IU ZHQLJVLQQYROOPHLQH,GHQWLWlW]XOHXJQHQ ³-DLFKELQ$WODQGHU6RKQ*RQR]DOV8QGZHUVLQG6LH"´ (UPXVWHUWHPLFKHLQHQ$XJHQEOLFNHKHHUDQWZRUWHWH ³,FKELQ&RUSNRU8QGLFKKDEHHLQHQ$XIWUDJGXUFK]XIKUHQ9LHOOHLFKWLQWHUHVVLHUWHV6LHZDVGDVIU HLQ $XIWUDJ LVW"´ (U VDK PLFK DQ ,Q VHLQHP %OLFN ODJ SO|W]OLFK GDV /DXHUQ HLQHV 5DXEWLHUV $OV LFK VFKZLHJ IXKU HU IRUW ³0HLQ $XIWUDJ ODXWHW ]ZHL 0lQQHU ]X IDQJHQ 8QG ZHQQ LFK GLHVHQ $XIWUDJ GXUFKJHIKUW KDEH

ZHUGHLFKGLHK|FKVWHQ3UlPLHQNDVVLHUHQGLHPLUMHPDOVJHERWHQZXUGHQ'LHEHLGHQ0lQQHUVLQG)DUWXORRQ XQGGHU6RKQ*RQR]DOV´ :LHGHUXPEOLFNWHHUPLFKVFKDUIDQSUIWHPHLQH5HDNWLRQ ³:HU KDW ,KQHQ GHQ $XIWUDJ HUWHLOW &RUSNRU"´ IUDJWH LFK UXKLJ 2EZRKO LFK GLH $QWZRUW ]X ZLVVHQ JODXEWHZROOWHLFKJDQ]VLFKHUJHKHQ ³'HU,PSHUDWRU´NDPGLHNXU]H$QWZRUW &RUSNRUZDUDOVRHLQ.RSIMlJHUXQGHUMDJWHLP'LHQVWH2UEDQDVFKROVGHV0|UGHUVPHLQHV9DWHUV ,FKEOLFNWHDXIVHLQHQ6WUDKOHU,P$XJHQEOLFNEHIDQGLFKPLFKLQHLQHUZHQLJDXVVLFKWVUHLFKHQ3RVLWLRQ %LVDXIPHLQ9LEUDWRUPHVVHUZDULFKZDIIHQORV8QG&RUSNRUVFKLHQPLUHLQ]XHUIDKUHQHU-lJHU]XVHLQDOVGD HUPLUGLHVHVEHUNXU]RGHUODQJQLFKWDXFKQRFKDEQHKPHQZUGH=XU=HLWVFKLHQHUNHLQH$EVLFKW]XKHJHQ PLFK]XW|WHQ9LHOOHLFKWYHUVSUDFKHUVLFKHLQH(UK|KXQJGHU.RSISUlPLHZHQQHUPLFKVHLQHP$XIWUDJJHEHU OHEHQG EHUJDE $QGHUHUVHLWV ZUGH HU PLFKVLFKHUOLFKRKQH=|JHUQXPEULQJHQIDOOVHUHVGHU/DJHQDFKIU ULFKWLJKLHOW &RUSNRUXQWHUEUDFKPHLQH*HGDQNHQ ³:HUIHQ6LH,KU9LEUDWRUPHVVHUDXIGHQ%RGHQ$WODQ-HGRFK´HUJULQVWHK|KQLVFK³VFK|QODQJVDP XQGYHUVXFKHQ6LHNHLQH'XPPKHLWHQ´(UKREGHQ6WUDKOHUHLQZHQLJ ,FK ZXWH GD LFK NHLQH &KDQFH EHVD $XFK ZHQQ LFK GDV 0HVVHU DQVDW]ORV DXV GHU +IWH KHUDXV VFKOHXGHUWHZlUHLFKLQGHUQlFKVWHQ6HNXQGHHLQWRWHU0DQQVRNDPLFKVHLQHP%HIHKOQDFK 'HU.RSIMlJHUQLFNWH]XIULHGHQ(UQDKPGDV0HVVHUDQVLFK'DQQVHW]WHHUGLFKDXIGHQ%RGHQXQGDOV HUVSUDFKKDWWHVHLQH6WLPPHHLQHQLURQLVFKHQ.ODQJ ³3ULQ]YRQ$UNRQ²1HLQ%OHLEHQ6LHVWHKHQ´hEHUJDQJVORVZXUGHVHLQH6WLPPHVFKDUIDOVLFKPLFK HEHQIDOOVVHW]HQZROOWH(U]LHOWHPLWGHU:DIIHDXIPHLQH%UXVW³(VLVW´(UVFKLHQQDFKGHPUHFKWHQ:RUW ]XVXFKHQ³(VLVWHUKHEHQGIUPLFKPLFKPLW,KUHVJOHLFKHQHLQPDODXIGLHVH:HLVH]XXQWHUKDOWHQ´ ,FK YHUVFKUl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²ZLH LFK DQQDKP²ODQJH =HLW IDVW DXVVFKOLHOLFK PLW 7LHUHQ YHUEUDFKW ,Q GLHVHU =HLW ZDU HU ZDKUVFKHLQOLFK NDXP PLW 0HQVFKHQ ]XVDPPHQJHWURIIHQ XQG ZHQQ GDQQ QXU PLW 7\SHQ YRP 6FKODJH 2UEDQDVFKROV RGHU GHV %OLQGHQ 6RIJDUWV8QWHUGLHVHQ8PVWlQGHQPXWHLFKGDPLWUHFKQHQGDGHU7LHUElQGLJHU9HUKDOWHQVZHLVHQHQWZLFNHOW KDWWH GLH GHQMHQLJHQ HLQHV ³QRUPDOHQ´ 0DQQHV QLFKW HQWVSUDFKHQ XQG GHVKDOE VFKZHU YRUDXV]XEHUHFKQHQ ZDUHQ ,FK EHVFKOR YRUVLFKWLJ ]X VHLQ $XI GHU DQGHUHQ 6HLWH ZDU HV GHQNEDU GD LFK XQWHU 8PVWlQGHQ GLH EHVRQGHUH0HQWDOLWlWGHV7LHUElQGLJHUVIUPHLQH=ZHFNHDXV]XQXW]HQYHUPRFKWH (QWJHJHQVHLQHU$QNQGLJXQJVFKZLHJ&RUSNRU6FKOLHOLFKIUDJWHLFKLKQ ³6WDQGHQ6LHLP'LHQVWHPHLQHV9DWHUVDOVGLHVHUHUPRUGHWZXUGH"´ (VGDXHUWHHLQH=HLWODQJHKHVLFKGHU7LHUElQGLJHUHQWVFKORHWZDV]XDQWZRUWHQ ³*RQR]DO9,,VWDUEEHLHLQHP-DJGXQIDOO´ ³'DV LVW GLH 'DUVWHOOXQJVZHLVH 2UEDQDVFKROV´ VDJWH LFK HUUHJW ³,Q :LUNOLFKNHLW ILHO HU HLQHP 0RUGDQVFKODJ]XP2SIHU´ &RUSNRUPDFKWHHLQHZHJZHUIHQGH*HVWH ³*HUFKWH´VDJWHHUZRUWNDUJ ³8QGZDUXPJODXEHQ6LHLVWGHU,PSHUDWRUKLQWHUPHLQHP.RSIKHUZHQQHUXQVFKXOGLJLVW"´ (LQHQ $XJHQEOLFN ODQJ VDK LFK 8QVLFKHUKHLW LQ GHQ $XJHQ GHV 7LHUElQGLJHUV (U VWLH HLQHQ VHOWVDP NHKOLJHQ/DXWDXV'DQQVFKZLHJHU

³&RUSNRU´EHJDQQLFKYRQQHXHP³6LHVWHKHQDXIGHUIDOVFKHQ6HLWH´ 'HU .RSIMlJHU PDFKWH HLQH XQNRQWUROOLHUWH *HVWH PLW GHP 6WUDKOHU ,FK JODXEWH VFKRQ HU ZUGH VFKLHHQ ³,FK VWHKH DXI QLHPDQGHV 6HLWH´ ULHI HU VFKURII ³,FK WXH PHLQH $UEHLW ZLH MHGHU DQGHUH DXFK XQG HUKDOWHPHLQH%H]DKOXQJGDIU8QGMHVFKZLHULJHUGLH$XIJDEHLVWGHVWRPHKU*HOGEHNRPPHLFK´ ³6LHMDJHQ0HQVFKHQJDQ]JOHLFKREVLHVLFKHWZDVKDEHQ]XVFKXOGHQNRPPHQODVVHQRGHUQLFKWXQG OLHIHUQVLHLKUHQ+HQNHUQDXV'DIUEHNRPPHQ6LH,KU*HOG´VDJWHLFKVFKDUI &RUSNRUVSUDQJDXIGLH)H(UNDPDQPLFKKHUDQXQGVWLHPLUGHQ6WUDKOHUYRUGLH%UXVW ³+DOWHQ6LH,KUHQ0XQG$WODQ´VFKULHHUXQEHKHUUVFKW³6RQVWZHUGHLFKLKQIULPPHUVWRSIHQ´ ,FKEOLFNWHLKPNKOHQWJHJHQ ³'DVZHUGHQ6LHQLFKWWXQ&RUSNRU,KUH3UlPLHGUIWHVLFKQlPOLFKHUKHEOLFKHUK|KHQZHQQ6LHPLFK EHL,KUHP$XIWUDJJHEHUOHEHQGDEOLHIHUQ´ &RUSNRUVWDUUWHPLFKHLQH:HLOHDQ3O|W]OLFKJLQJHLQ*ULQVHQEHUVHLQ*HVLFKWXQGHUVDJWH ³6LHVLQGHLQVFKODXHU%XUVFKH$WODQ6LHZROOHQPLFKUHL]HQVRGDLFKPLFK]XHLQHU8QDFKWVDPNHLW KLQUHLHQODVVH´ 6HLQ*HVLFKWZXUGHKDUW³*HQXJMHW]W,FKKDEHDQGHUHV]XWXQDOVPLU,KU*HUHGHDQ]XK|UHQ*HKHQ 6LHGRUWKLQHLQ´ (UGHXWHWHPLWGHU:DIIH]XP(LQJDQJGHU+|KOH ,FK KDWWH NHLQH DQGHUH :DKO $OV LFK YRU GHP (LQJDQJ VWDQG IKOWH LFK &RUSNRUV 6WUDKOHU LQ PHLQHP 5FNHQ%HLP(LQWULWWLQGLH+|KOHIODPPWH/LFKWDXI 0DQPXWHHVGHP0DQQODVVHQ(UKDWWHVHLQ8QWHUQHKPHQJOlQ]HQGRUJDQLVLHUW:lKUHQGLFKKLQXQG ZLHGHUGXUFKGHQYHUVWlUNWHQ'UXFNGHV6WUDKOHUVLP5FNHQHUPXQWHUWWLHIHULQGDV+|KOHQV\VWHPGHV%HUJHV HLQGUDQJ HUNDQQWH LFK GD &RUSNRU GLH |UWOLFKHQ *HJHEHQKHLWHQ RSWLPDO IU VHLQH =ZHFNH JHQXW]W KDWWH (V KDWWH GDV ZXUGH GHXWOLFKBYRQ YRUQKHUHLQ LQ VHLQHU $EVLFKW JHOHJHQ GDV 5DXPVFKLII ZLHGHU ZHJ]XVFKLFNHQ $OOHVZDVHUEHQ|WLJWHKDWWHHUYRQ5RERWHUQKLHUKHUEULQJHQXQGLQVWDOOLHUHQODVVHQ (OHNWURQLVFKH *HUlWH *HQHUDWRUHQ 1DKUXQJVPLWWHO XQG PHGL]LQLVFKH 'HSRWV $XVWDXVFKDJJUHJDWH $OOHVZDUYRUKDQGHQ 8QG7LHUH (V ZDUHQ LQ GHU +DXSWVDFKH NOHLQHUH $UWHQ GLH XQV EHJHJQHWHQ ,QVHNWHQ 6SLQQHQ XQG .ULHFKWLHUH VRZLHHLQLJH6FKXGHQ 7LHUHYRQRIWJUXQGYHUVFKLHGHQHU$UWMDVHOEVWVROFKHGLHYRQ1DWXUDXV]X)HLQGHQEHVWLPPWZDUHQ OHEWHQKLHUZLHLFKVDKLQIULHGOLFKHU.RH[LVWHQ]PLWHLQDQGHU 'LHV ZDU GDV :HUN &RUSNRUV (V ZDU ZLH LFK PLU HLQJHVWDQG IDV]LQLHUHQG ]X HUOHEHQ PLW ZHOFK VHOEVWYHUVWlQGOLFKHU*HODVVHQKHLWVLFK&RUSNRULQPLWWHQGHU7LHUHEHZHJWHXQGDXIZHOFKH:HLVHHUPLWLKQHQ NRPPXQL]LHUWH 0LW WUDXPZDQGOHULVFKHU 6LFKHUKHLW ZHFKVHOWH GHU 7LHUElQGLJHU YRQ HLQHU 7LHUVSUDFKH ]XU DQGHUHQJOHLFKJOWLJREGLHMHZHLOLJH.RPPXQNDWLRQVZHLVHGXUFK7|QH0LPLN*HVWHQRGHUDXIVRQVWHLQH$UW DXVJHEWZXUGH 0|JOLFKHUZHLVHGDFKWHLFKZDUKLHUHLQHSDUDSV\FKLVFKH*DEHDP:HUN ³+DOW´ :LUEHIDQGHQXQVLQHLQHUNOHLQHQ1HEHQK|KOHGLHOHHUZDUXQGRKQHHLJHQH%HOHXFKWXQJ ,FK EOLHE VWHKHQ XQG EHUOHJWH RELFK PLFK XPGUHKHQ XQG YHUVXFKHQ VROOWH GLH :DIIH ZHJ]XGUFNHQ XQG&RUSNRU]XEHUZlOWLJHQ $EHUGHU.RSIMlJHUVFKLHQDXFKIUPHQVFKOLFKH$EVLFKWHQHLQ*HVSU]XKDEHQ(UVDJWHZDUQHQG ³%OHLEHQ6LHVWHKHQXQGGUHKHQ6LHVLFKQLFKWXPELVLFKGLHVHQ5DXPYHUODVVHQKDEH8QG´VHLQH 6WLPPHZXUGHVFKlUIHU³IDOOV6LH)OXFKWDEVLFKWHQKHJHQLFKSRVWLHUHGUDXHQHLQSDDU0RUGVFKXGHQ6LH VLQG]LHPOLFKKXQJULJ´ (UODFKWHKDUWDXI'DQQYHUVFKZDQGGHU'UXFNGHV6WUDKOHUVYRQPHLQHP5FNHQXQGLFKDKQWHGD &RUSNRUVLFKHQWIHUQWH+|UHQNRQQWHLFKHVQLFKWGHU7LHUElQGLJHUEHVDGHQODXWORVHQ*DQJHLQHV5DXEWLHUV

(LQJHOOHQGHU3ILIIGXUFKVFKQLWWGLH6WLOOH(UZXUGHYRQKHXOHQGHQXQGZLQVHOQGHQ7|QHQEHDQWZRUWHW GLHVFKQHOOODXWHUZXUGHQ 0HLQH:lFKWHU /DQJVDPJLQJLFKDXIGLH(QJVWHOOH]XGXUFKGLHPDQLQGHQDQJUHQ]HQGHQ+|KOHQUDXPJHODQJWH$OV LFKVLHHUUHLFKWKDWWHEOLFNWHLFKLQGHQDXIJHULVVHQHQ5DFKHQHLQHV6FKXGHQ'DVP|UGHULVFKH*HELEOLQNWHLP /LFKWGHU+|KOHQEHOHXFKWXQJ'HXWOLFKVDKLFKGLHGROFKDUWLJHQ=lKQHXQGGLHXQJHZ|KQOLFKVWlUNHQ0XVNHOQ PLW+LOIHGHUHUGDV7LHUGHQ9LEUDWRUHIIHNWKHUYRUULHI $XVGHP5DFKHQGUDQJHQJUROOHQGH7|QH5DXEWLHUJHVWDQNVFKOXJPLUHQWJHJHQ ,FK EOLHE VWHKHQ XQG ZDUI HLQHQ %OLFN GXUFK GHQ 6SDOW GXUFK GHQ HLQ 0DQQ VLFK KLQGXUFK]ZlQJHQ PXWH 'UHL0RUGVFKXGHQKDWWH&RUSNRU]XPHLQHU%HZDFKXQJSRVWLHUW'HU.RSIMlJHUVFKLHQVLFKVHLQHU6DFKH VHKUVFKHU]XVHLQ 1XQMDGDFKWHLFKHUKDWWHDOOHQ*UXQGGD]X2KQH:DIIHQKDEHLFKJHJHQGLH5DXEWLHUHNHLQH&KDQFH 'HU 7LHUElQGLJHU ZDU LQWHOOLJHQWHU DOV HV ]XHUVW GHQ $QVFKHLQ JHKDEW KDWWH 6RPLW ZDU HU DXFK JHIlKUOLFKHU (UYHUIJWHEHU0LWWHOGHQ(LQVDW]GHU7LHUHLP.DPSIXPGHQ6WW]SXQNW]XVWHXHUQ8QGHUVFKLHQ ODXIHQG,QIRUPDWLRQHQEHUGHQMHZHLOLJHQ6WDQGGHU(UHLJQLVVH]XHUKDOWHQ $XIZHOFKH:HLVHHUVLFKGLHVH,QIRUPDWLRQHQYHUVFKDIIWHZDUPLUQRFKQLFKWJDQ]NODUJHZRUGHQ$XI MHGHQ)DOOZDUHQVSH]LHOODXI0HOGXQJHQDEJHULFKWHWH7LHUH²9|JHOZDKUVFKHLQOLFKDXFK,QVHNWHQ²]XGLHVHP =ZHFNLP(LQVDW] (LQ JU|HUHU 5DXP GHQ ZLU GXUFKTXHUW KDWWHQ ZXUGH YRQ &RUSNRU DQVFKHLQHQG DOV HLQH $UW =HQWUDOH YHUZHQGHW ,FK KDWWH HLQHQ 6FKLUP JHVHKHQ GHU HLQ HLJHQWPOLFK UDVWHUI|UPLJHV %LOG SURGX]LHUWH 7URW] GHU XQVFKDUIHQXQGVHOWVDPYHU]HUUWHQ:LHGHUJDEHJODXEWHLFK5RERWHUHUNDQQW]XKDEHQGLHLQHLQHU+DOOHJHJHQ =DPXFFVXQG3DUGHQNlPSIWHQ :DV IU HLQH $UW YRQ RSWLVFKHU hEHUWUDJXQJ IDQG GD VWDWW XQG ZHU RGHU ZDV ZDUHQ GLH ,QIRUPDWLRQVWUlJHU" 1XQGLHVH)UDJHZDULP0RPHQWXQZLFKWLJ:HLWZLFKWLJHUZlUHHVJHZHVHQ]XZLVVHQREGHU$QJULII GHU 7LHUH DXI GHQ 6WW]SXQNW HQGJOWLJ ]XP 6WLOOVWDQG JHNRPPHQ ZDU RGHU RE &RUSNRU 0LWWHO XQG :HJH JHIXQGHQKDWWHVHLQHDXVGHQ)XJHQJHUDWHQH7LHUDUPHHZLHGHUQHX]XIRUPLHUHQ(VZUGHVLFKHUOLFKDXFKIU LKQQLFKWOHLFKWVHLQGHQIKUHUORVHQ+RUQLVVHQVFKZDUPZLHGHUXQWHU.RQWUROOH]XEULQJHQ :LH LPPHU GLH 'LQJH VWDQGHQ LP $XJHQEOLFN ZDU PHLQ YRUGULQJOLFKVWHV 3UREOHP GLH )UDJH ZLH LFK PHLQHP*HIlQJQLVHQWULQQHQNRQQWH ,FKVDKPLFKXP'DV/LFKWGDVGXUFKGHQ6SDOWILHOHUKHOOWHGHQ5DXPQXUVFKZDFK'RFKLFKVDKGD GLH:lQGHVWDUN]HUNOIWHWZDUHQXQGGHU%RGHQGHUQDFKKLQWHQKLQOHLFKWDEILHOGXUFKYLHOH6FKZHOOHQXQG 8QHEHQKHLWHQXQWHUEURFKHQZDU 'LH $XJHQ DXI GDV NQXUUHQGH 5DXEWLHU JHULFKWHW ]RJ LFK PLFK ELV ]XU 0LWWH GHV 5DXPHV ]XUFN ,FK GUHKWHPLFKODQJVDPXPXQGOLHPHLQHQ%OLFNEHUGHQ%RGHQZDQGHUQ1LUJHQGZRZDUDXFKQXUHLQ6WHLQ]X HQWGHFNHQGHQLFKDOV:DIIHJHJHQPHLQH%HZDFKHUKlWWHEHQXW]HQN|QQHQ ,FK JLQJ ]XP KLQWHUHQ 7HLO GHU +|KOH +LHU ZDU GLH 'HFNH VR QLHGULJ GD LFK PLFK DXI GLH .QLH QLHGHUODVVHQPXWH,FKKROWHGHQ+DQGVFKHLQZHUIHUKHUYRU²ZHQLJVWHQVGHQKDWWH&RUSNRUPLUJHODVVHQ²XQG OHXFKWHWHGLH6WHOOHDXV 0HLQH+RIIQXQJHLQHQ'XUFKJDQJ]XILQGHQZXUGHHQWWlXVFKW²'HU/LFKWNHJHOILHODXIQDFNWHQ)HOV $XFKGDV$ENORSIHQGHV*HVWHLQVQDFK+RKOUlXPHQ]HLWLJWHNHLQHQ(UIROJ ,FKVHW]WHPLFKDXIGHQ%RGHQXQGEHUOHJWH(VPXWHHLQHQ$XVZHJJHEHQ

:lKUHQGGHV:DUWHQVDXIGLHµ,VVFK¶DDVXQGLKUHQ*HIDQJHQHQZDULQ&RUSNRUHLQ(QWVFKOXJHUHLIW 'HU.DPSIXPGLH6WDWLRQKDWWHIULKQXQGVHLQH7LHUHHLQHXQJQVWLJH:HQGXQJJHQRPPHQ&RUSNRU NRQQWHMHW]WQLFKWPHKUVLFKHUVHLQREGLH*HIDQJHQQDKPH)DUWXORRQVRGHUVHLQH/LTXLGLHUXQJQRFKJHOlQJH(U KDWWHVLFKJHIUDJWREHVQLFKWYLHOOHLFKWEHVVHUZDUGDV5DXPVFKLII]XUFN]XEHRUGHUQXQG.UDXPRQPLWGHP JHIDQJHQHQ$WODQ]XVDPPHQ]XYHUODVVHQ 'LH 3UlPLH GLH HU IU GHQ /HEHQGHQ 6RKQ *RQR]DOV HUKLHOWBLPPHU YRUDXVJHVHW]W GHU *HIDQJHQH ZDU WDWVlFKOLFKGHU.ULVWDOOSULQ]²ZUGHDOOHLQDXVUHLFKHQLKQ&RUSNRU]XPUHLFKHQ0DQQ]XPDFKHQ -HW]W QDFKGHP GLH ,GHQWLWlW $WODQV HUZLHVHQ ZDU HQWVFKOR VLFK GHU .RSIlJHU VHLQHQ 3ODQ LQ GLH 7DW XP]XVHW]HQ (UHUWHLOWHGHU3RVLWURQLNGHQ%HIHKOGHQHQWVSUHFKHQGHQ)XQNLPSXOVDQGDV5DXPVFKLII]XVHQGHQ 'DQQYHUOLHHUGLH+|KOHXPHLQHQ0HOGHYRJHOLQGDV7DO]XVFKLFNHQ(UVROOWH:HLRYHUDQODVVHQGHQ .DPSIDE]XEUHFKHQXQGGLH7LHUH]XUFN]XVFKLFNHQ 'DV IHLQH *HK|U GHV 7LHUElQGLJHUV QDKP HLQ VFKZDFKHV 9LEULHUHQ GHV %RGHQV ZDKU &RUSNRU JOLWW ]X %RGHQXQGSUHWHVHLQ2KUDXIGLH(UGH'HXWOLFKK|UWHHUMHW]WGDVIHUQH'U|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lO]WH 6HLQH7LHUH²JHVFKODJHQJHVFKXQGHQYHUVW|UWXQGJHKHW]W 'LHVZDUGHU5HVW'LHDQGHUHQZDUHQWRWRGHUVFKZHUYHUOHW]WDXIGHU.DPSIVWDWWJHEOLHEHQ &RUSNRU EOLFNWH QDFK REHQ 'RUW NUHLVWHQ .UDDXVV XQG DQGHUH 9|JHO 'LH EHUOHEHQGHQ +DXWIOJOHU NOHEWHQ DQ GHQ )HOVHQ 0GH KLQJHQ LKUH .|SIH KHUDE $XI GHQ bVWHQ GHU %lXPH KRFNWHQ GLH NOHLQHQ 0HOGHY|JHO 7XWZDUQLFKWXQWHULKQHQ(UPXWHXPJHNRPPHQVHLQ $XFK$\XDNZDUWRW9RQVHLQHQHQJVWHQ)UHXQGHQZDUDOOHLQ:HLRQRFKDP/HEHQ 9HU]ZHLIOXQJ GURKWH GHQ 7LHUEl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|KOH:DVHUVDKOLHLKPGHQ$WHPVWRFNHQ )OXJURERWHUVFKZHEWHQGXUFKGLH6FKOXFKWXQGHU|IIQHWHQDXVVFKZHUHQ'HVLQWHJUDWRUHQGDV)HXHUDXI GDV5DXPVFKLII 9HU]ZHLIHOW IUDJWH VLFK &RUSNRU ZLH HV KDWWH JHVFKHKHQ N|QQHQ GD GLH .DPSIPDVFKLQHQ QLFKW UHFKW]HLWLJJHRUWHWZRUGHQZDUHQ(VPXWHHLQ'HIHNWLQGHU2UWXQJVDQODJHYRUOLHJHQ$QGHUVZDUGLHVQLFKW]X HUNOlUHQ'DV6FKLIIGDVDXIGHU7DOVRKOHJHODQGHWZDUEHIDQGVLFKLQHLQHUXQJQVWLJHQ/DJH(VNRQQWHVHLQ ,PSXOVJHVFKW]QLFKWJHJHQGLH)OXJURERWHUHLQVHW]HQRKQHGLH7LHUHLQJURH*HIDKU]XEULQJHQGLHVLFKLQ GHU6FKOXFKWYHUVDPPHOWKDWWHQ$XVGLHVHP*UXQGNRQQWHDXFKGHU6FKXW]VFKLUPQLFKWDNWLYLHUWZHUGHQ 'DGDV6FKLIIQLFKWRKQH&RUSNRUV)XQNEHIHKOVWDUWHQNRQQWHHLOWHGHU.RSIMlJHULQGLH+|KOHXPGDV

)XQNJHUlW HLQ]XVFKDOWHQ 'RFK HV ZDU VFKRQ ]X VSlW 'LH 5RERWHU KDWWHQ LQ NU]HVWHU =HLW GDV 5DXPVFKLII IOXJXQIlKLJJHVFKRVVHQ &RUSNRUVWU]WHLQV)UHLH,QRKQPlFKWLJHU:XWEOLFNWHHU]XGHQ5RERWHUQHPSRUGLHEHUGHU6FKOXFKW VFKZHEWHQ 6HLQH +DQG GLH GHQ 6WUDKOHU XPVFKOR ]XFNWH 'RFK GDQQ VLHJWH GLH 9HUQXQIW 1RFK HKH HU GLH :DIIH KlWWH LQ $QVFKODJ EULQJHQ N|QQHQ KlWWH LKP GHU 6FKX DXV HLQHP 'HVLQWHJUDWRU GDV /HEHQVOLFKW DXVJHEODVHQ (VZDURKQHKLQYHUZXQGHUOLFKGDGLH.DPSIPDVFKLQHQQLFKWOlQJVWGDV)HXHUDXIGLHGLFKWJHGUlQJWHQ 7LHUHHU|IIQHWKDWWHQ'RFKVLHVFKLHQHQLKUHQ$XIWUDJHUIOOW]XKDEHQ6LHVFKDOWHWHQGLH7ULHEZHUNHHLQXQG IORJHQGDYRQ 2KQHVLFK]XUKUHQVWDUUWHGHU.RSIMlJHULKQHQQDFK6FKOLHOLFKNDP%HZHJXQJLQLKQ (UNOHWWHUWHDXIHLQHQ)HOVHQYRQGHPHUDOOH7LHUHEHUEOLFNHQNRQQWHGLHLQGHU6FKOXFKWVWDQGHQXQG DXIVHLQH%HIHKOHZDUWHWHQ 'HU $QEOLFN GHU YLHOHQ YHUOHW]HQ XQG VWHUEHQGHQ 7LHUH²HLQLJH KDWWHQ VLFK PLW OHW]WHU .UDIW QRFK ELV KLHUKHUVFKOHSSHQN|QQHQXPGDQQ]XYHUHQGHQ²EUDFKWH&RUSNRUV%OXWLQ:DOOXQJ(UYHUPRFKWHNDXPPHKU NODU]XGHQNHQ(LQ=LWWHUQGXUFKUDQQVHLQHQ.|USHU$XVVHLQHP0XQGEUDFKHLQXQDUWLNXOLHUWHU6FKUHL 'LH7LHUHGHQHQVLFKGLHVHHOLVFKH9HUIDVVXQJLKUHV+HUUQOlQJVWPLWJHWHLOWKDWWHEUOOWHQYLHOVWLPPLJ DXI'DQQZDUIHQVLHGLH.|SIHHPSRUXQGJDORSSLHUWHQGDYRQ (LQ'RQQHUQEUDFKVLFKDQGHQ:lQGHQGHU%HUJHDOV&RUSNRUV+HUGHGXUFKGLH6FKOXFKWUDVWH 'HU 7LHUElQGLJHU ZDU LP %HJULII VLFK GHQ 6FKZHUYHUOHW]WHQ XQWHU GHQ 7LHUHQ ]X]XZHQGHQ DOV HWZDV HLQWUDWZRPLWHUDPZHQLJVWHQJHUHFKQHWKDWWH

'HU%RGHQYLEULHUWH,FKOHJWHPHLQ2KUDXIGHQ)HOVERGHQ-HW]WVSUWHLFKHVGHXWOLFKGDV*HWUDSSHO XQG*HWUDPSHO]DKOORVHU7LHUEHLQH :DV KDWWH GDV ]X EHGHXWHQ" +DWWHQ GLH 7LHUH GLH 6WDWLRQ HQGJOWLJ ]HUVW|UW XQG GLH 0HQVFKHQ GDULQ YHUQLFKWHW"2GHUNHKUWHQVLHJHVFKODJHQ]XUFN" 'DVOHW]WHUHZDUGDV:DKUVFKHLQOLFKHUH ,Q GHP $XJHQEOLFN DOV GLH %OXWKRUQLVVHQ VLFK JHJHQ GLH HLJHQHQ 5HLKHQ JHZDQGW KDWWHQ ZDU GHU $QJULIIGHU7LHUHVRJOlQ]HQGRUJDQLVLHUWXQGPLWJU|WHU=LHOVWUHELJNHLWYRUDQJHWUDJHQ]XVDPPHQJHEURFKHQ $XFKHLQ0DQQZLHGLHVHU&RUSNRUGHUDEVROXWH0DFKWEHUGLH7LHUHEHVDKlWWHGDV%ODWWLQVRNXU]HU=HLW NDXP]XZHQGHQYHUPRFKW :HQQHVVRZDUZLHLFKYHUPXWHWHPXWHLFKGDPLWUHFKQHQGDGHU.RSIMlJHUVHLQHQXUVSUQJOLFKHQ 3ODQ DXFK )DUWXORRQ LQ VHLQH *HZDOW ]X EULQJHQ DXIJHEHQ XQG YHUVXFKHQ ZUGH PLW PLU ]XVDPPHQ YRQ .UDXPRQ]XIOLHKHQ 'DV*HWUDPSHOXQG*HVWDPSIHNDPQlKHU,FKPXWHHWZDVXQWHUQHKPHQ$EHUZDV" $XVGHQ$XJHQZLQNHOQQDKPLFKHLQH%HZHJXQJZDKU ,FKYHUKLHOWPLFKDEVROXWVWLOOGUHKWHQXUGHQ.RSILQGLH5LFKWXQJLQGHULFKGLH%HZHJXQJJHVHKHQ KDWWH 7URW] GHV *HUlXVFKHV GDV GLH QlKHU NRPPHQGH +HUGH YHUXUVDFKWH XQWHUVFKLHG LFK MHW]W QRFK HLQHQ DQGHUHQ7RQ(VNODQJDOVRELUJHQGHWZDVJHJHQ6WHLQVFKOXJ 'LHEHWUHIIHQGH(FNHGHU+|KOHZDUVWDUN]HUNOIWHW'DVVSlUOLFKH/LFKWPDFKWHHVPLUIDVWXQP|JOLFK ]XHUNHQQHQZDVGRUWYRUVLFKJLQJ$XIMHGHQ)DOOPXWHHVVLFKXPHLQ7LHUKDQGHOQGDVGRUWDP:HUNZDU 'LH/DPSHZDJWHLFKQLFKWHLQ]XVFKDOWHQDXV)XUFKWGDV7LHUZLHGHU]XYHUVFKHXFKHQ2EZRKOLFKLQGLHVHP $XJHQEOLFNQRFKQLFKWZXWHDXIZHOFKH:HLVHHVPLUKHOIHQVROOWHKDWWHVLFKPHLQ8QWHUEHZXWVHLQEHUHLWV GHUQHXHQ6LWXDWLRQEHPlFKWLJWXQGHUZRJDOOHP|JOLFKHQ3OlQHXPHLQHQ1XW]HQGDUDXV]X]LHKHQ (LQH%HXWHIUGLH6FKXGHQEHPHUNWHPHLQ([WUDKLUQ -DGDVZDUHV*HODQJHVµPLUGDV7LHU]XIDQJHQVREHVDLFKHLQHQ.|GHUPLWGHPLFKPLQGHVWHQV HLQHQPHLQHU:lFKWHUDXVVFKDOWHQNRQQWH

)DOOV HV QLFKW HLQHV YRQ &RUSNRUV HLJHQHQ 7LHUHQ ZDU EHUOHJWH LFK 'HU 7LHUElQGLJHU VFKLHQ HLQH GHUDUWLJH0DFKWEHUVHLQH7LHUH]XEHVLW]HQGDLFKQLFKWDQQHKPHQGXUIWHGLH0RUGVFKXGHQZUGHQDXFK ZHQQVLHQRFKVRKXQJULJZDUHQVLFKDQHLQHP7LHUYHUJUHLIHQGDV&RUSNRUV*HUXFKWUXJ 1XQGDVZUGHVLFK]HLJHQ (LQH)UDJHGLHPLFKLP$XJHQEOLFNPHKUEHVFKlIWLJWHZDUDXIZHOFKH:HLVHLFKGHV7LHUHVEHUKDXSW KDEKDIW ZHUGHQ NRQQWH 'LH +|KOH ZDU OHHU (V JDE NHLQHQ HLQ]LJHQ 6WHLQ GHQ LFK DOV :XUIJHVFKR KlWWH YHUZHQGHQN|QQHQ(LQVROFKHVDEHUEUDXFKWHLFKZHQQLFK(UIROJKDEHQVROOWH (LQOHLVHVNHFNHUQGHV*HUlXVFKXQWHUEUDFKPHLQH*HGDQNHQ 8QZLOONUOLFKDWPHWHLFKDXI'LHVH7|QHNDQQWHLFK6LHZXUGHQYRQGHQ.ODPPHUUDWWHQDXVJHVWRHQ 'DVZDUHQNOHLQH1DJHWLHUHYRQGHQHQHVDXI.UDXPRQYLHOHJDE'DPLWZDUHLQ3UREOHPJHO|VW'DGDV7LHU QLFKWYRQ%RUGGHV5DXPVFKLIIVVWDPPWHZUGHQGLH5DXEWLHUHGLHYRUGHP6SDOWVDHQXQGPLFKEHZDFKWHQ HVDOV%HXWHDN]HSWLHUHQ -HW]WVDKLFKDXFKGDV7LHU(VPXWHDXVHLQHPZLQ]LJHQ/RFKLP)HOVHQJHNRPPHQVHLQ(VVHW]WHVLFK DXIVHLQH+LQWHUSIRWHQ'DVZHLH%DXFKIHOOVFKLPPHUWHIDKO 0HLQH 5HFKWH XPNODPPHUWH GHQ +DQGVFKHLQZHUIHU ,Q GLHVHP 0RPHQW HQWVFKOR LFK PLFK LKQ ]X RSIHUQ(LQHDQGHUH0|JOLFKNHLWGHQ1DJHU]XHUZLVFKHQVDKLFKQLFKW 1RFKZDUWHWHLFK 'LH.ODPPHUUDWWHPDFKWHHLQHQ6DW]XQGODQGHWHLQHLQHU)HOVQLVFKH'DQQVSUDQJVLHEHEHQGHYRQ6WHLQ ]X 6WHLQ ZREHL VLH VLFK PLW GHP 6FKZDQ] GHU EHVRQGHUH .ODPPHUKlNFKHQ EHVD JHVFKLFNW DQ GHP JODWWHQ )HOVIHVWNODPPHUWH ,FKVWDQGEHZHJXQJVORVLP+LQWHUJUXQGGHU+|KOHXQGZDUWHWHDXIPHLQH&KDQFH'DV7LHUGDVPLFK QLFKW]XEHPHUNHQVFKLHQNDPLPPHUQlKHU$OVHVQXUQRFKHWZDIQI)XYRQPLUHQWIHUQWZDUVWLHHLQHU GHU6FKXGHQLPEHQDFKEDUWHQ5DXPHLQGXPSIHV.QXUUHQDXV 'LH5DWWHHUVWDUUWH,PVHOEHQ$XJHQEOLFNVFKOHXGHUWHLFKGLH/DPSH(VJDEHLQHQNOLUUHQGHQ7RQXQG HLQKHOOHV4XLHWVFKHQ,FKKDWWHJHWURIIHQ 'XUFKGHQ6SDOWGUDQJZWHQGHV)DXFKHQXQG.QXUUHQ,FKEOLFNWHKLQEHUGDUDXIJHIDWGDGLH7LHUH KLHUHLQGULQJHQZUGHQ$OVQLFKWVGHUJOHLFKHQJHVFKDKJLQJLFK]XGHU6WHOOHDQGHUGLH.ODPPHUUDWWHODJ6LH ZDUWRW'DV*ODVGHV6FKHLQZHUIHUVZDU]HUEURFKHQ 'DV *HUlXVFK GHU VLFK QlKHUQGHQ +HUGH ZDU ODXWHU JHZRUGHQ -HGHQ $XJHQEOLFN NRQQWH &RUSNRU HUVFKHLQHQ ,FK HUJULII GDV WRWH 7LHU XQG EOLFNWH KLQEHU ]X GHP 6SDOW YRU GHP GLH NQXUUHQGHQ 5DXEWLHUH VWDQGHQXQGPLWKXQJULJHQ$XJHQMHGHPHLQHU%HZHJXQJYHUIROJWHQ (LQ HLQ]HOQHV %HXWHWLHU XQG GUHL KDOEYHUKXQJHUWH 0RUGVFKXGHQ 'HU $XVJDQJ PHLQHV 9RUKDEHQV HUVFKLHQPLUPLWHLQHP0DOH]LHPOLFK]ZHLIHOKDIW /DQJVDP JLQJ LFK DXI GLH ZDUWHQGHQ %HVWLHQ ]X GHQ .|GHU LQ GHU +DQG -H QlKHU LFK NDP GHVWR XQUXKLJHUZXUGHQGLH7LHUH6LHIOHWVFKWHQGLH=lKQHVWUlXEWHQGDV)HOOXQGGXFNWHQVLFK]XP6SUXQJ =ZHL 6FKULWW YRQ GHP 6SDOW HQWIHUQW EOLHE LFK VWHKHQ 0HLQH /LQNH WDVWHWH EHU GLH )URQWVHLWH PHLQHV .DPSIDQ]XJV%HVDLFKQLFKWGRFKLUJHQGHWZDVGDVPLULP.DPSIJHJHQGLH%HVWLHQQW]OLFKVHLQNRQQWH" 0HLQH+DQGVWLHDQHWZDV*ODWWHV5XQGHV 'DV8UXWH['DLFKQLFKWIUKHUGDUDXIJHNRPPHQZDU /DQJVDPPLWYRUVLFKWLJHQ%HZHJXQJHQXPGLH7LHUHQLFKW]XPYRU]HLWLJHQ$QJULII]XUHL]HQ|IIQHWH LFKGLH7DVFKHXQGHQWQDKPLKUGLH'RVHPLWGHPVlXUHKDOWLJHQ5HLQLJXQJVPLWWHO :lKUHQGLFKGLH.DSSHDEQDKPVFKULWWLFKZHLWHUDXIGLH5DXEWLHUH]X 6LH JHElUGHWHQ VLFK ZLH WROO -HGHQ $XJHQEOLFN PXWH HLQHV YRQ LKQHQ PLFK DQIDOOHQ 'DQQ NDP GHU HQWVFKHLGHQGH$XJHQEOLFN0LWGHU5HFKWHQVFKOHXGHUWHLFKGLH.ODPPHUUDWWHGHPHLQHQGHU0RUGVFKXGHQYRU GHQ JHLIHUQGHQ 5DFKHQ *OHLFK]HLWLJ ]LHOWH LFK PLW GHU 'RVH DXI GHQ .RSI GHV ]ZHLWHQ XQG GUFNWH DXI GHQ $XVO|VHU 'DVJHWURIIHQH7LHUKHXOWHDXIYRU6FKPHU]XQG:XW9HUPXWOLFKZDUHVHUEOLQGHW(VYHUVXFKWHPLWGHQ 3IRWHQGDVlW]HQGH0LWWHODXVGHQ$XJHQKHUDXV]XUHLEHQXQGUDVWHGDQQGXUFKGHQ5DXP6HLQ*HKHXOKDOOWH

VFKDXULJGXUFKGLH+|KOH'DQQHUVWDUEHV'LH%HVWLHKDWWHVLFKDQGHPKDUWHQ*HVWHLQGHQ6FKlGHOHLQJHUDQQW 'HU6FKXGHGHPLFKGLH5DWWHYRUZDUIKDWWHVHLQH=lKQHLQGLH%HXWHJHJUDEHQ6FKDXGHUQGK|UWHLFK GDV6LQJHQGHV9LEUDWRUJHELVVHV 'LH GULWWH %HVWLH VFKLHQ HLQHQ 0RPHQW XQVFKOVVLJ ZDV VLH WXQ VROOWH ,KUH $XIPHUNVDPNHLW ZDU IU HLQHQ$XJHQEOLFN]ZLVFKHQPLUXQGLKUHPJLHULJIUHVVHQGHQ*HIlKUWHQJHWHLOW'LHVZXUGHLKU]XP9HUKlQJQLV ,FKWUDW]X0LWYROOHU:XFKWWUDIPHLQ6WLHIHOYRQXQWHQKHUGLH.LQQODGHGHV5DXEWLHUV(VNUDFKWH'DQQILHO GHU6FKXGHWRWXP ,FKKDWWHQXUQRFKHLQHQ*HJQHU (VZDUPHLQ9RUWHLOGDGDVGULWWH5DXEWLHUQRFKLPPHUPLWVHLQHU%HXWHEHVFKlIWLJWZDU=ZDUKDWWHQ GLH P|UGHULVFKHQ =lKQH GHQ .|USHU GHU .ODPPHUUDWWH OlQJVW ]HUVWFNHOW 'RFK XP VHLQH JHIlKUOLFKVWH :DIIH JHJHQPLFKHLQVHW]HQ]XN|QQHQPXWHGHU5DFKHQOHHUVHLQ8QGGLH=HLWGLHGDV5DXEWLHUEUDXFKWHXPGLH %HXWHKLQXQWHU]XVFKOLQJHQJHQJWHPLU0LWHLQHPKDUWHQ+DQGNDQWHQVFKODJ]HUEUDFKLFKLKPGDV*HQLFN 'LH %HVWLHQ ZDUHQ WRW ,FK KDWWH HV JHVFKDIIW $EHU QRFK ZDU LFK QLFKW IUHL -HGHQ $XJHQEOLFN NRQQWH &RUSNRU ]XUFNNRPPHQ :HQQ HU VDK ZDV JHVFKHKHQ ZDU ZUGH HU VLFKHUOLFK QLFKW ]|JHUQ PLFK ]X HUVFKLHHQ ,FK ODXVFKWH HLQHQ $XJHQEOLFN $OV VLFK QLFKWV UKUWH GXUFKTXHUWH LFK GHQ 5DXP XQG EOLFNWH LQ GLH 1DFKEDUK|KOH6LHZDU]LHPOLFKJHUlXPLJ&RUSNRUV$XWRPDWHQKDWWHQDOOHUOHL%HKlOWQLVVHJHVWDSHOW$QHLQHU 6WHOOH]ZHLJWHHLQ6HLWHQUDXPDE9RUVLFKWLJJLQJLFKEHUGHQOHLFKWDQVWHLJHQGHQ%RGHQDXIGLH(QJVWHOOH]X GLHGHQ5DXPPLWGHPDQJUHQ]HQGHQYHUEDQG 'DV 7UDPSHOQ XQG 6WDPSIHQ GDV YRQ GUDXHQ ]X K|UHQ ZDU KDWWH PHKU XQG PHKU QDFKJHODVVHQ XQG VFKOLHOLFKJDQ]DXIJHK|UW:lKUHQGLFKPLFKYRUVLFKWLJYRQ5DXP]X5DXPVFKOLFKVWHWVJHZlUWLJYRQ7LHUHQ DQJHIDOOHQRGHUYRQ&RUSNRUVHOEVWDQJHJULIIHQ]XZHUGHQKRUFKWHLFKDXIMHGHQ/DXWGHUQRFK]XK|UHQZDU :DUXPZDUHVVRVWLOO"8QGZDUXPZDUNHLQ7LHU]XVHKHQ":DVSODQWHGHU.RSIMlJHU" 0HLQH *HGDQNHQ ZXUGHQ YRQ HLQHP GRQQHUQGHQ 7RVHQ XQWHUEURFKHQ 'LHVHV *HUlXVFK ZDU XQYHUZHFKVHOEDU (V ZXUGH GXUFK KHLHV 3ODVPDJDV YHUXUVDFKW GDV DXV GHQ 'VHQ HLQHV ,PSXOVWULHEZHUNV VWU|PWH &RUSNRUKDWWHVHLQ5DXPVFKLII]XUFNJHKROW :lKUHQG LFK PLFK ZHLWHU LQ 5LFKWXQJ$XVJDQJEHZHJWHNUHLVWHQPHLQH*HGDQNHQXPGLH )UDJH ZLH LFKZDIIHQORVPLW&RUSNRUIHUWLJZHUGHQVROOWH 3O|W]OLFKK|UWHLFKHLQQHXHV*HUlXVFK$XFKGLHVHV*HUlXVFKNDQQWHLFK(VZDUHLQ6FKXDXVHLQHP VFKZHUHQ'HVLQWHJUDWRU *OHLFKGDUDXIIROJWHHLQHJDQ]H6DOYH 'DV NRQQWH QXU HLQHV EHGHXWHQ )DUWXORRQ KDWWH GDV ]XUFNNHKUHQGH 5DXPVFKLII JHRUWHW XQG DEHUPDOV )OXJURERWHUORVJHVFKLFNWXPHVGLHVPDOHQGJOWLJ]XYHUQLFKWHQ :HQQ GDV 9RUKDEHQ JHODQJ NRQQWH &RUSNRU VHLQHQ 3ODQ PLW PLU YRQ .UDXPRQ ]X IOLHKHQ QLFKW YHUZLUNOLFKHQ9LHOOHLFKWZUGHHUHVGDQQYRU]LHKHQPLFK]XW|WHQ ,FK PXWH LKP ]XYRUNRPPHQ 'LH *HOHJHQKHLW ZDU JQVWLJ 'DV )HXHUJHIHFKW ZUGH GLH $XIPHUNVDPNHLW GHV .RSIMlJHUV LQ $QVSUXFK QHKPHQ 'D LFK VLFKHU VHLQ GXUIWH GD PLU LP $XJHQEOLFN YRQ &RUSNRUV6HLWHNHLQH*HIDKUGURKWHEHVFKOHXQLJWHLFKPHLQH6FKULWWHXPVRVFKQHOOZLHP|JOLFKLQV)UHLH]X JHODQJHQ 9RU PLU JDEHOWH VLFK GDV +|KOHQV\VWHP 6FKUlJ QDFK UHFKWV JLQJ HV ZLH LFK PLFK HULQQHUWH ]XP +|KOHQDXVJDQJ$XVGHPQDFKOLQNVDE]ZHLJHQGHQ5DXPGUDQJHLQKHOOHV6XPPHQ,QVHNWHQ" %LVKHU KDWWH LFK PLFK YHUJHEOLFK QDFK HWZDV XPJHVHKHQ GDV LFK YLHOOHLFKW DOV :DIIH JHJHQ GHQ .RSIMlJHU EHQXW]HQ N|QQWH 1LFKW HLQ HLQ]LJHU 6WHLQ KDWWH VLFK ILQGHQ ODVVHQ :DKUVFKHLQOLFK KDWWHQ 5RERWHU DOOHVZHJJHUlXPW $Q HLQ *HUlW RGHU HLQH 0DVFKLQH JHWUDXWH LFK PLFK QLFKW KHUDQ DXV )XUFKW VLH N|QQWHQ DQ HLQ :DUQV\VWHPDQJHVFKORVVHQVHLQ 9LHOOHLFKW KDWWH LFK MHW]W HQGOLFK *OFN ,FK WUDW DQ GHQ )HOVVSDOW KHUDQ XQG ZDUI HLQHQ %OLFN LQ GHQ

5DXPDXVGHPGDV6XPPHQNDP 'HU5DXPZDUVRGXQNHOGDLFKQLFKWVZHLWHUHUNHQQHQNRQQWHDOVHLQHQVFKZDU]HQ.OXPSHQGHUDXI GHP%RGHQODJXQGVLFKEHZHJWH (VPRFKWHQLQGHU7DW,QVHNWHQVHLQ'LHVH)UDJHVFKLHQPLUDXIHLQPDORKQH%HGHXWXQJ9LHOZLFKWLJHU ZDUHLQHDQGHUH :RKHUNDPGHU/LFKWVFKHLQGHUGHQKLQWHUHQ7HLOGHV5DXPHVVFKZDFKEHOHXFKWHWH" 'DV/LFKWGDVLQQHUKDOEGHVPLUEHNDQQWHQ7HLOVGHU+|KOHYHUZHQGHWZXUGHZDUEOlXOLFKHV.XQVWOLFKW 'LHVHV KLHU KLQJHJHQ ZDU YRQ U|WOLFKBJHOEHU )DUEH YRQ GHU JOHLFKHQ )DUEH GLH GLH 6WUDKOHQ GHU 6RQQH .UDXPRQVXPGLHVH7DJHV]HLWHWZDKDEHQPXWHQ +DWWHLFKHLQHQ]ZHLWHQ(LQJDQJ]XU+|KOHJHIXQGHQ"'DVZUGHPHLQH$XVVLFKWHQJHJHQEHU&RUSNRU YHUJU|HUQ ,Q]ZLVFKHQ KDWWHQ VLFK PHLQH $XJHQ DQ GLH 'XQNHOKHLW JHZ|KQW 'HU 5DXP ZDU ELV DXI GHQ ,QVHNWHQNOXPSHQ DP %RGHQ OHHU (LQ JURHU 6FKULWW EUDFKWH PLFK EHU GLHVHQ KLQZHJ 'HU /LFKWVFKHLQ ILHO GXUFKHLQHQ6SDOWGXUFKGHQLFKPLFKPKVDPKLQGXUFKTXHWVFKHQPXWH 'HU5DXPGDKLQWHUZDUPHKUHLQHHQJH5|KUH6LHIKUWHLQHLQHPVWHLOHQ:LQNHODXIZlUWVXQGHQGHWHLQ HLQHP/RFKKLQWHUGHPGDV7DJHVOLFKWVFKLPPHUWH ,FK DUEHLWHWH PLFK )H XQG 6FKXOWHUQ JHJHQ 9RUVSUQJH XQG $EVlW]H VWHPPHQG LQ GHP HQJHQ +|KOHQVFKDFKWHPSRU$OVLFKIDVWGHQ5DQGGHV/RFKHVHUUHLFKWKDWWHILHOHLQ6FKDWWHQDXIGLHgIIQXQJ (LQ 6FKZDUP NOHLQHU ,QVHNWHQ IORJ GXUFK GDV /RFK LQ GLH +|KOH HLQ 9RUVLFKWVKDOEHU VFKOR LFK GHQ 5DXPKHOPXQGSUHWHPLFKDQGLH:DQG'RFKQLFKWVJHVFKDK'LHZLQ]LJHQ,QVHNWHQQDKPHQNHLQH1RWL]YRQ PLUVRQGHUQIORJHQDQPLUYRUEHLWLHIHULQGLH+|KOHKLQHLQ (VZDUHLQKDUWHV6WFN$UEHLWELVLFKPLFKGXUFKGDVHQJH/RFKQDFKGUDXHQJH]ZlQJWKDWWH 'DQQZDULFKLP)UHLHQ,FK|IIQHWHGHQ+HOPXQGEOLFNWHPLFKYRUVLFKWLJXP 'LH 6WHOOH DQ GHU LFK KHUDXVJHNRPPHQ ZDU ODJ HWZD GUHLLJ 6FKULWW YRP +DXSWHLQJDQJ GHU +|KOH HQWIHUQW XQG ]ZDU VFKUlJ EHU MHQHP 'LFKWHV %XVFKZHUN JDE PLU HLQH DXVJH]HLFKQHWH 'HFNXQJ VR GD LFK PLFKRULHQWLHUHQNRQQWHRKQHVHOEVWJHVHKHQ]XZHUGHQ 8QWHUPLUHUVWUHFNWHVLFKGLH6FKOXFKW'RUWZRVLHDPEUHLWHVWHQZDUVWDQGGDV5DXPVFKLII(VZLHV VWDUNH%HVFKlGLJXQJHQDXIXQGVFKLHQQLFKWPHKUIOXJIlKLJ]XVHLQ )DVWDOOH6FKOHXVHQZDUHQJH|IIQHW9HUVFKLHGHQDUWLJH5DPSHQZDUHQDXVJHIDKUHQZRUGHQ(LQLJHYRQ LKQHQPHKURGHUPLQGHUVWDUNEHVFKlGLJW=XEHLGHQ6HLWHQGHV5DXPVFKLIIVGUl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|IIQHWKDWWHQ :DKUVFKHLQOLFKKDWWH)DUWXORRQGHUGXUFK6SUDQJNYRQPHLQHU*HIDQJHQQDKPHHUIDKUHQKDEHQPXWH GLHV:LFKWJHZDJW(UPXWHGDPLWUHFKQHQGDZHULPPHUPLFKLQVHLQHU*HZDOWKDOWHPLFKW|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lWWHUZHUN GHV

%XVFKHV]XLKPKLQ(UZDUQDKHJHQXJVRGDLFKVHLQ*HVLFKWJXWHUNHQQHQNRQQWH 'LHVHV *HVLFKW ZUGH LFK QLFKW VR OHLFKW YHUJHVVHQ (V ZDU OHLFKHQEOD GHU 0XQG ZDU HLQ VFKPDOHU EOXWOHHUHU6WULFKXQGGLH$XJHQIXQNHOWHQYRU+DXQGZDKUVFKHLQOLFKDXFKYRU9HU]ZHLIOXQJ9HU]ZHLIOXQJ EHUGLHYLHOHQYHUZXQGHWHQXQGWRWHQ7LHUHGLHGLHVHUZDKQZLW]LJH.DPSIJHNRVWHWKDWWH'HU7LHUElQGLJHU KlWWHVLFKVDJHQPVVHQGDHLQH)RUWVHW]XQJGHV.DPSIHVQRFKZHLWHUHJU|HUH2SIHUIRUGHUQZUGH$OOHLQ VHLQ*HVLFKWVDXVGUXFNOLHHUNHQQHQGDVHLQH9HUQXQIWEHLVHLWHJHGUlQJWXQGVHLQ*HLVWQXUQRFKYRQHLQHP *HGDQNHQEHKHUUVFKWZXUGHYRQGHPGHU5DFKH ,FK EHUOHJWH ZLH LFK PLFK LKP XQEHPHUNW QlKHUQ NRQQWH 'DV EHZDFKVHQH *HOLQGH ERW JHQJHQG 'HFNXQJVP|JOLFKNHLWHQ 'RFK IUFKWHWH LFK GD PLFKVFKDUIH 9RJHODXJHQ DXVPDFKHQ XQG GLHVH (QWGHFNXQJ VRIRUWDQGHQ.RSI-lJHU:HLWHUPHOGHQZUGHQ (LQ .UDPSI VFKLHQ GHQ 0DQQ GRUW REHQ ]X VFKWWHOQ 6HLQ 0XQG |IIQHWH VLFK XQG GDQQ GUDQJ DXV &RUSNRUV .HKOH HLQ PDUNHUVFKWWHUQGHU 6FKUHL $XV GLHVHP 6FKUHL VSUDFKHQ VR YLHO DQLPDOLVFKH :XW XQG 9HU]ZHLIOXQJGDLFKHUVFKDXHUWH 'LH $QWZRUW GHU 7LHUH ZDU QLFKW PLQGHU HUUHJHQG (V ZDU HLQH 3RO\SKRQLH KHXOHQGHU NODJHQGHU EUOOHQGHU VFKUHLHQGHU NUHLVFKHQGHU XQG JUROOHQGHU 7|QH GLH GXUFK GLH 6FKOXFKW UDVWH XQG VLFK YLHOIlOWLJ DQ GHQVWHLOHQ%HUJZlQGHQEUDFK 'DQQNDP%HZHJXQJLQGLH0DVVHQ)DVWDOOH7LHUH²LFKVDKGDVRJDUGLHOHLFKWHUYHUOHW]WHQPLW]RJHQ QXUGLHEHVRQGHUVVFKZHUYHUOHW]WHQEOLHEHQGDBVWUPWHQQDFK6GHQ $OV LFK VDK ZLH VLFK DXFK GLH 9RJHOVFKZlUPH ]XP $XIEUXFK IRUPLHUWHQ KLHOW LFK PHLQH =HLW IU JHNRPPHQ 9RUVLFKWLJ MHGH 'HFNXQJ DXVQXW]HQG NOHWWHUWH LFK GHQ %HUJ KLQDXI XQG ZDQGWH PLFK GDQQ QDFK UHFKWVXPLQGHQ5FNHQGHV.RSIMlJHUV]XJHODQJHQ ,FKKDWWH&RUSNRUIDVWHUUHLFKWDOVHUPLFKEHPHUNWH(UUHDJLHUWHXQJODXEOLFKVFKQHOOXQGDOVLFKVDK ZLHGLH+DQGPLWGHP6WUDKOHULQGLH+|KHNDPVFKORLFKEHUHLWVPLWPHLQHP/HEHQDE'RFKLFKKDWWHQRFK HLQPDO *OFN 'HU .RSIMlJHU JOLWW GXUFK GLH VFKQHOOH DEUXSWH %HZHJXQJ DXI GHP JODWWHQ )HOV DXV XQG VHLQ 6FKXJLQJLQGLH/XIW,PQlFKVWHQ$XJHQEOLFNKDWWHLFKPLFKDXILKQJHZRUIHQ 6FKRQ LQ GHQ HUVWHQ 6HNXQGHQ GLHVHV =ZHLNDPSIHV PHUNWH LFK GD LFK HV PLW HLQHP EHUDXV JHIlKUOLFKHQ*HJQHU]XWXQKDWWH1RFKZlKUHQGZLUGXUFKGLH:XFKWGHV=XVDPPHQSUDOOV]X%RGHQVWU]WHQ IKUWHLFKHLQHQKDUWHQ+LHEJHJHQVHLQHQUHFKWHQ8QWHUDUP6HLQH+DQG|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lKOLFK LPPHU ZHLWHU QDFK XQWHQ XQG GHU =HLWSXQNW ZDU QLFKW PHKU IHUQ GD ZLU EHLGH DXI GHU 6RKOH GHU 6FKOXFKW DQODQJHQ PXWHQ )U &RUSNRU EHGHXWHWH GLHVH (QWZLFNOXQJ HLQHQ 9RUWHLO 'LHV HUNDQQWH LFK VSlWHVWHQV ]X GHP =HLWSXQNW DOV LFK HLQHQ VFKQHOOHQ %OLFN QDFK XQWHQ ZHUIHQG VDK ZLH VLFK HLQLJH GHU YHUOHW]WHQ7LHUHLQ%HZHJXQJVHW]WHQ ,KUH$EVLFKWZDUNODU6LHZROOWHQLKUHP+HUUQXQG0HLVWHU]X+LOIHNRPPHQ 0LU EOLHE NHLQH =HLW KHUDXV]XILQGHQ PLW ZHOFKHU $UW YRQ 7LHUHQ LFK HV ]X WXQ EHNRPPHQ ZUGH -HGRFK KDWWH LFK LP /DXIH GHV .DPSIHV XP GHQ 6WW]SXQNW GLH (UIDKUXQJ JHPDFKW GD HV XQWHU &RUSNRUV 7LHUHQNHLQH´VJDEGDVQLFKWJHIlKUOLFKZDU 'LH (UNHQQWQLV GD VLFK PHLQH /DJH LQ ZHQLJHQ $XJHQEOLFNHQ ZHVHQWOLFK YHUVFKOHFKWHUQ ZUGH YHUGRSSHOWH PHLQH $QVWUHQJXQJHQ ,FK EORFNWH HLQHQ KDUWHQ 6FKODJ GHV 7LHUElQGLJHUV DE ZLFK HLQHP VHLQHU W\SLVFKHQ%HLQWULWWHDXVXQGGDQQNDPLFKPLW]ZHL'DJKRUB*ULIIHQGXUFK'HU.RSIMlJHUEUDFK]XVDPPHQ

,FKKDWWHNHLQH=HLWPLFKZHLWHUXPLKQ]XNPPHUQ,Q]ZLVFKHQKDWWHVLFKPLWHLQ5DJZXHB3DUGHVR ZHLWJHQlKHUWGDHUPLUJHIlKUOLFKZXUGH'DV7LHUZDUEOXWYHUNUXVWHWXQGKLQNWHDXIGHUUHFKWHQ+LQWHUKDQG $XVEOXWXQWHUODXIHQHQ$XJHQVWDUUWHHVPLFKDQXQGGXFNWHVLFK]XP6SUXQJ ,FKEFNWHPLFKEHNDPHLQHQJU|HUHQ6WHLQ]XIDVVHQXQGVFKOHXGHUWHLKQDXIGLH%HVWLH$OVLFKLKU QDFKEOLFNWH ZLH VLH VLFK EHUVFKODJHQG GLH OHW]WHQ 6FKULWWH GHV +DQJHV DEZlUWV VWU]WH K|UWH LFK HLQHQ PHUNZUGLJHQ7RQ(UNDPPLUEHNDQQWYRU,FKZROOWHPLFKXPGUHKHQXPQDFKGHU8UVDFKHGHV*HUlXVFKHV ]XVHKHQ,FKNDPMHGRFKQLFKWPHKUGD]X(WZDVVFKODQJVLFKXPPHLQH%HLQHXQGULPLFK]X%RGHQ ,PVHOEHQ$XJHQEOLFNZXWHLFKZHOFKHV7LHUPLFKDQJHJULIIHQKDWWHHLQ&LQJNB7|WHU 'LHVH7LHUHGLHHVDXFKDXI*RUWDYRUJDEJHK|UWHQ]XGHQVHOWVDPVWHQ/HEHZHVHQGLHLFKNDQQWH6LH ZDUHQHWZDGUHL)XODQJXQGEHZHJWHQVLFKlXHUVWIOLQNDXI]Z|OI/DXIUROOHQ'DVZDUHQGXUFK+RUQSODWWHQ JHVFKW]WH XQG PLW +DIWKlNFKHQ YHUVHKHQH *HZHEHEDOOHQ GLH LQ .QRFKHQODJHUQ OLHIHQ XQG GXUFK VWDUNH 0XVNHOVWUlQJH EHZHJW ZXUGHQ 'LH HPSILQGOLFKHQ /DXIEDOOHQ ZXUGHQ GXUFK HLQ WLHI KHUDEUHLFKHQGHV .QRFKHQVFKLOG JHVFKW]WBGDV DXV HLQHU 5HLKH PLWHLQDQGHU GXUFK +DXWODSSHQ YHUEXQGHQHU 6HJPHQWH EHVWDQG 'DGXUFKHUKLHOWGHUYLHOJOLHGULJH.|USHUHLQHDXHURUGHQWOLFKH:HQGLJNHLW 'HU &LQJNB7|WHU EHVD HLQHQ :UJHVFKZDQ] GHU PHKU DOV GRSSHOW VR ODQJ ZDU ZLH VHLQ .|USHU 0LW GLHVHPXPVFKODQJHUVHLQH%HXWHXQGHUZUJWHVLH6HLQH)HLQGHZDUHQYRUDOOHPGLHULHVLJHQ&LQJNB.U|WHQ 'D GLHVH MHGRFK DOOPlKOLFK DXVVWDUEHQ KDWWH VLFK GHU &LQJNB7|WHU DXFK DXI DQGHUH 7LHUH VHOEVW DXIJU|HUH 5DXEWLHUHVSH]LDOLVLHUW 'DV*HUlXVFKGDVLFKJHK|UWKDWWHHQWVWDQGZHQQVLFKHLQVROFKHV7LHUEHUHLQHPHKURGHUZHQLJHU JODWWH 2EHUIOlFKH EHZHJWH (V ZXUGH GDGXUFK YHUXUVDFKW GD GLH PLW HLQHU KDUWHQ +RUQVFKLFKW YHUVHKHQHQ /DXIEDOOHQEHUGHQ%RGHQUDVVHOWHQ 1RFK ZlKUHQG GHV )DOOHQV VSUWH LFK ZLH VLFK GHU :UJHVFKZDQ] GHV 7LHUHV XP PHLQHQ .|USHU HPSRUZDQG=XPHLQHP*OFNZDUDXFKGHU&LQJNB7|WHUQLFKWPHKULP9ROOEHVLW]VHLQHU.UlIWH$QGHUQIDOOV KlWWHQPLFKGLHVWDUNHQ0XVNHOVWUlQJHGHV6FKZDQ]HVOlQJVW]XHLQHPEHZHJXQJVXQIlKLJHQ3DNHWYHUVFKQUW XQG]HUTXHWVFKW 'HU&LQJNB7|WHULVWHLQHLHUOHJHQGHV5DXEWLHU6HLQEUHLWHV0DXOYHUIJWDEHUEHUNHLQH(LQULFKWXQJHQ ]XP =HUNOHLQHUQ GHU %HXWH (U YHUWLOJW VLH lKQOLFK ZLH PDQFKH 5HSWLOLHQDUWHQ LQGHP HU VLH LP *DQ]HQ KHUXQWHUVFKOLQJW ,FK VWHPPWH PLFK PLW DOOHU .UDIW JHJHQ GLH VLFK DOOPlKOLFK YHUHQJHQGHQ :LQGXQJHQ DQ 1RFK ZDUHQ PHLQH$UPHXQG+lQGHIUHL9RUPHLQHP*HVLFKWSHQGHOWHGHUKlOLFKHGUHLHFNLJH6FKlGHO'HUHNOLJH$WHP GHV7LHUHVVWLHJPLULQGLH1DVH 0HLQH/LQNHGLHGHQ%RGHQDEWDVWHWHEHNDPHLQHQOlQJOLFKHQVFKDUINDQWLJHQ6WHLQ]XIDVVHQ ,P OHW]WHQ $XJHQEOLFNBGLH :LQGXQJHQ GHV 6FKZDQ]HV KDWWHQ EHUHLWV PHLQHQ JHVDPWHQ 2EHUN|USHU HLQJHVFKQUWEHNDPLFKGHQ+DOVGHV7LHUHVXQPLWWHOEDUKLQWHUGHP.RSI]XIDVVHQ0LWGHU/LQNHQUDPPWHLFK LKPGHQ6WHLQLQGHQDXIJHULVVHQHQ6FKOXQG 'HU&LQJNB7|WHUHUVWLFNWH,QVHLQHP7RGHVNDPSI]RJHQVLFKQRFKHLQOHW]WHV0DOGLH0XVNHOQVHLQHV :UJHVFKZDQ]HV ]XVDPPHQ (LQHQ $XJHQEOLFN PHLQWH LFK PHLQH .QRFKHQ ZUGHQ EUHFKHQ 'DQQ HQGOLFK O|VWHVLFKGLHW|GOLFKH8PNODPPHUXQJ .HXFKHQG ULFKWHWH LFK PLFK DXI $EHU DOV LFK GLH ]lKQHIOHWVFKHQGHQ %HVWLHQ VDK GLH²]XP 7HLO VR VFKZHU YHUOHW]W GD VLH GDV +LQWHUWHLO DXI GHP %RGHQ QDFK]RJHQ²GHQ +DQJ HPSRU]XNOLPPHQ EHJDQQHQ ZXWHLFKGDGHU.DPSIQRFKQLFKWYRUEHLZDU hEHUPLUODJPLWGHP.RSIQDFKXQWHQGHU7LHUElQGLJHU(UUHJWHVLFKEHUHLWVZLHGHU(LQ=HLFKHQGD HU]XVLFKNDP 8QG GDQQ HQWGHFNWHQ PHLQH $XJHQ GHQ 6WUDKOHU (U KDWWH VLFK ]ZLVFKHQ GHQ :XU]HOQ HLQHV %XVFKHV YHUIDQJHQ ,FK KDVWHWH GHQ $EKDQJ ZLHGHU KLQDXI 8QG HUVW DOV LFK GDV NKOH 0HWDOO ]ZLVFKHQ GHQ )LQJHUQ VSUWHZXWHLFKGDLFKJHZRQQHQKDWWH ,FKVFKRDXIGHQPLU]XQlFKVWEHILQGOLFKHQ$QJUHLIHUHLQH6WHO]NDW]HGLHPHKUHUHIDXVWJURH:XQGHQ LP 5FNHQ KDWWH 'DV 5DXEWLHU EHUVFKOXJ VLFK XQG UXWVFKWH GHQ +DQJ KLQXQWHU'LH DQGHUHQ 7LHUH ]|JHUWHQ

MHW]W'DQQVDKLFKZLHVLFK&RUSNRUPKVDPDXIULFKWHWH ,FKPDFKWHHLQLJH6FKULWWHDXILKQ]XXQGULHI ³(VLVWYRUEHL&RUSNRU*HEHQ6LHDXI´ 6WDWWHLQHU$QWZRUWVSLHGHU.RSIMlJHUDXIGHQ%RGHQ'DQQEHJDQQHUKXPSHOQGGLHHLQH+DQGDXIGLH 6WHOOHVHLQHV+DOVHVJHSUHWZRLKQPHLQH+DQGNDQWHJHWURIIHQKDWWHGHQ+DQJDEZlUWV]XNOHWWHUQ ³%OHLEHQ6LHVWHKHQ&RUSNRU´ULHILFK³6RQVWW|WHLFK6LH´ 'HU7LHUElQGLJHUWDWDOVK|UWHHUPLFKQLFKWXQGVHW]WHVHLQHQ:HJIRUW(LQSDDU7LHUHZDUHQDQVHLQHU 6HLWH6LHOHFNWHQVHLQHKHUDEKlQJHQGH/LQNH ,FKPDFKWHHLQHQ6SUXQJGHUPLFKDXIGLHJOHLFKH+|KHPLWLKPEUDFKWHEDQQ]LHOWHLFKVRUJIlOWLJXQG VHW]WHHLQHQ%XVFKLQ)ODPPHQJHUDGHLQGHP$XJHQEOLFNDOV&RUSNRULP%HJULIIZDULKQ]XSDVVLHUHQ 'LH 7LHUH ]XFNWHQ ]XUFN $EHU GHU .RSIMlJHU JLQJ XQEHLUUW VHLQHV :HJHV (U VFKLHQ HLQ 6WDGLXP HUUHLFKW]XKDEHQEHLGHPGHU7RGNHLQH'URKXQJPHKUDXILKQDXV]XEHQYHUPRFKWH 'DULHILFKVFKDUI :HQQ6LHQLFKWVWHKHQEOHLEHQW|WHLFK,KUH7LHUH&RUSNRU´ 'DVZLUNWH'HU.RSIMlJHUYHUKLHOWVHLQHQ6FKULWW/DQJVDPGUHKWHHUVHLQHQ.RSIXQGVDKPLFKDQ:LH ]ZHL EUHQQHQGH .RKOHQVWFNH IXQNHOWHQ GLH $XJHQ LQ GHP EOHLFKHQ *HVLFKW 6HLQH 6WLPPH NODQJ ZLH GDV .QXUUHQHLQHV5DXEWLHUVDOVHUKHUYRUVWLH ³:DV²ZROOHQ²6LHBYRQ²PLU"´'DEHL]HUELHUGLHHLQ]HOQHQ:RUWHIDVW]XU8QYHUVWlQGOLFKNHLW :LUKDWWHQLQ]ZLVFKHQGLH6RKOHGHV7DOHVHUUHLFKW,FKWUDWQRFKQlKHUDQLKQKHUDQ ³6LHVWHKHQDXIGHUIDOVFKHQ6HLWH8QG6LHNlPSIHQIUGHQIDOVFKHQ0DQQ&RUSNRU´ (U VWDUUWH PLFK DQ ,FK YHUVXFKWH ]X HUNHQQHQ ZDV LQ LKP YRUJLQJ 'RFK GLH VWHLQHUQH 0DVNH VHLQHV *HVLFKWVZDUXQGXUFKGULQJOLFK ³6LHVROOWHQHVVLFKEHUOHJHQRE6LHHLQHP0HXFKHOP|UGHUKHOIHQZROOHQEHJDQJHQHV8QUHFKWQRFK]X YHUJU|HUQ2GHURE6LH,KUH)lKLJNHLWHQLQGHQ'LHQVWGHVVHQVWHOOHQZROOHQGHUGDV5HFKWDXIVHLQHU6HLWHKDW ,FKZHUGHPLUPHLQ5HFKWHUNlPSIHQ&RUSNRURE6LHPLUGDEHLKHOIHQZROOHQRGHUQLFKW´ 'LH1DUEHQLQGHP*HVLFKWYRUPLUVFKLHQHQ]XJOKHQ,FKDKQWHGDVLFKLP,QQHUQGHV0DQQHVHLQ .DPSIDEVSLHOWH6FKZHLJHQGZDUWHWHLFK 6FKOLHOLFKVSUDFKHU6HLQH6WLPPHKDWWHVLFKYHUlQGHUW'LH:RUWHNDPHQ]|JHUQGVWRFNHQG ³,FKKDEH²,KUHQ9DWHUJHNDQQW$WODQ²(UZDUHLQ²JXWHU0DQQ(UZDUDQGHUVDOV2UEDQDVFKRO´ (UEUDFKSO|W]OLFKZLHGHUDE'HQQRFKGLH0DXHUGLHGHU7LHUElQGLJHUXPVLFKKHUXPDXIJHEDXWKDWWHEHJDQQ ]XZDQNHQ,FKEHUOHJWHZLHLFKVLH]XP(LQVWU]HQEULQJHQNRQQWHGDVWLHHUSO|W]OLFKKHUYRU ³8QGPHLQH7LHUH"0HLQH7LHUHVLQGPHLQ/HEHQ$WODQ´ (QGOLFKKDWWHLFKLKQGDZRLFKLKQKDEHQZROOWH/lQJVWZDUPLUNODUJHZRUGHQGHU:HJ]X&RUSNRU IKUWHEHUVHLQH7LHUH8QGHUVHOEVWKDWWHPLUGDV6WLFKZRUWJHJHEHQ,FKEUDXFKWHHVQXUDXI]XJUHLIHQ8QG HWZDVDQGHUHVZDUPLUHEHQIDOOVDXIJHJDQJHQ:HQQLFKGLHVHQ0DQQDXIPHLQH6HLWHEUDFKWHZDUHLQZHLWHUHU 6FKULWWJHWDQLQ5LFKWXQJDXIGDV=LHO2UEDQDVFKRO]XVWU]HQXQGPHLQHQ9DWHU]XUlFKHQ&RUSNRUXQGVHLQH 7LHUDUPHHZUGHQHLQH9HUVWlUNXQJEHGHXWHQLP.DPSIXPPHLQ5HFKW ³,FK ELHWH ,KQHQ HLQ %QGQLV DQ &RUSNRU :LU ZHUGHQ ,KQHQ GLH 0|JOLFKNHLW JHEHQ ,KUH 7LHUH ]X YHUVRUJHQ VR ZLH VLH HV ELVKHU JHZ|KQW ZDUHQ 9RU DOOHP ZHUGHQ ZLU XQV GHU YHUOHW]WHQ 7LHUH DQQHKPHQ )DUWXORRQV 0LWWHO XQG 0|JOLFKNHLWHQ VLQG XQEHVFKUlQNW 9RQ LKP ZHUGHQ 6LH DOOHV HUKDOWHQ ZDV 6LH EHQ|WLJHQ´ ,FKPDFKWHHLQH3DXVHJDELKPGLH0|JOLFKNHLWGDV*HK|UWH]XYHUDUEHLWHQ ³'DIU ZHUGHQ 6LH YRQ QXQ DQ IU PLFK DUEHLWHQ IU PLFK $WODQ GHQ UHFKWPlLJHQ (UEHQ ,PSHUDWRU *RQR]DOV´ &RUSNRUKDWWHGHQ.RSIJHVHQNW*HLVWHVDEZHVHQGVWDUUWHHUDXIGHQ0RUGVFKXGHQGHULKPGHQVWDXEB XQGEOXWYHUNUXVWHWHQ.|USHUGLFKWDQLKQJHVFKPLHJWGLH+lQGHOHFNWH $OVLFKGXUFKGLH6FKOXFKWEOLFNWHGLHLP6GHQLQGDV+RFKWDOEHUJLQJVDKLFKHLQH6WDXEZRONH.XU] GDUDXIEHPHUNWHLFKZLHGHU%RGHQYLEULHUWH

'LH7LHUHNDPHQ]XUFN6LFKHUOLFKZDUHQVLHYRQ&RUSNRUV0HOGHWLHUHQEHUXQVHU'XHOOEHLGHU+|KOH LQIRUPLHUWZRUGHQ6LHNDPHQXPLKUHP+HUUQ]XKHOIHQ 1LFKW PHKU ODQJH GDQQ ZDUHQ VLH KLHU :LH ZUGH VLFK &RUSNRU HQWVFKHLGHQ" ,P *UXQGH PHLQHV +HU]HQVZDULFKRSWLPLVWLVFK 'LHZDUPH/XIWLQGHU6FKOXFKWWUXJGDV7URPPHOQGHUJDORSSLHUHQGHQ%HLQHKHUDQ,FKNRQQWHEHUHLWV YHUVFKLHGHQH7LHUDUWHQXQWHUVFKHLGHQ$QGHU6SLW]HVWUPWHQGLHVFKQHOOVWHQYRQLKQHQ1RFKLPPHUVFKZLHJ GHU7LHUElQGLJHU 6FKOLHOLFKMHGRFKGUHKWHHUPLUGHQ.RSIZLHGHU]XXQGVDJWHPLWUDXKHU6WLPPH ³,FKQHKPHGDV%QGQLVDQB$WODQ´ 6FKZHLJHQGVWUHFNWHLFKLKPPHLQH5HFKWHHQWJHJHQ1DFKNXU]HP=|JHUQHUJULIIHUVLH'DQQZDUWHWHQ ZLUDXIGLH7LHUH%DOGEHPHUNWHLFKGDQLFKWDOOH7LHUH]XUFNJHNHKUWZDUHQVRQGHUQK|FKVWHQVHLQ'ULWWHO %HIDQGHQVLFKGLHUHVWOLFKHQQRFKLP.DPSIXPGHQ6WW]SXQNW"2GHUZDUHQVLHWRW" /HW]WHUHV ZDU ZRKO QLFKW ]X EHIUFKWHQ &RUSNRU KDWWH ZlKUHQG HU XP HLQH OHEHQVZLFKWLJH (QWVFKHLGXQJUDQJQLFKWIUHLQHQ$XJHQEOLFNGHQ.RQWDNW]XGHQ7LHUHQYHUORUHQ'HQ%HZHLVGDIUOLHIHUWHQ VHLQHQlFKVWHQ:RUWH ³'LHVH7LHUHVLQGJHNRPPHQXPPLU]XKHOIHQ'HU5HVWNlPSIWQRFKLPPHUJHJHQ,KUH/HXWHDXIGHU 6WDWLRQ,FKZHUGHVLHEHQDFKULFKWLJHQ´ (U VWLH HLQHQ VFKULOOHQ 3ILII DXV $XV HLQHU %DXPNURQH O|VWH VLFK HLQ NOHLQHU 9RJHO VFKR LQ HLQHP ZLOGHQ6WXU]IOXJKHUDEXQGODQGHWHDXI&RUSNRUV6FKXOWHU)DV]LQLHUWEHREDFKWHWHLFKZLHGHU7LHUElQGLJHUPLW VHOWVDPJXUUHQGHQXQGGDQQZLHGHUNUlFK]HQGHQ/DXWHQDXILKQHLQUHGHWH $OVGHU9RJHOVLFKZLHGHULQGLH/IWHHUKREHQKDWWHXQGQDFK6GHQGDYRQVFKRVDJWH&RUSNRUOHLVH ³(UKDWGLH6WHOOH7XWVHLQJHQRPPHQ7XWLVWWRW´ ,FK EOLFNWH LKQ DQ $OOPlKOLFK EHJDQQ VLFK GDV %LOG ]X UXQGHQ GDV LFK PLU YRQ GHP 7LHUElQGLJHU JHPDFKWKDWWH (LQPDOZDUGDGHU0DQQGHUVNUXSHOORVXQGRKQH5FNVLFKWDXIPHQVFKOLFKH*HIKOHVHLQHQ$XIWUDJ GXUFKIKUWH 'HU JQDGHQORVH -lJHU GHU GHQ :HUW GHU 0HQVFKHQ GLH HU MDJWH QXU QDFK GHU +|KH GHU 3UlPLH PDGLHDXIVLHDXVJHVHW]WZRUGHQZDU 'LHVZDU&RUSNRUGHU.RSIMlJHU 'DQQZDUGDQRFKGHUDQGHUH&RUSNRU'HU)UHXQGXQG%UXGHUGHU7LHUH'HU0DQQGHPGLH0|UGHU GHV'VFKXQJHOVXQWHUWDQZDUHQGHUGLH7LHUHEHLP1DPHQULHIXQGPLWLKQHQVSUDFK :HQQ&RUSNRUHLQYROOZHUWLJHV0LWJOLHGXQVHUHU*HPHLQVFKDIWZHUGHQVROOWHPXWHGLHVHU:LGHUVSUXFK LQVHLQHP:HVHQJHO|VWZHUGHQ$EHUZDUHVGHQQHLQ:LGHUVSUXFK" :DUQLFKWGDVHLQHGXUFKGDVDQGHUHEHGLQJW":DUGLHWRWDOH+LQZHQGXQJ]XP7LHUQLFKWHLQH)ROJHGHU WRWDOHQ $EZHQGXQJ YRP 0HQVFKHQ" 'LH )UDJH ZDU GDQQ :DV ZDU GDV IU HLQ (UHLJQLV GDV &RUSNRU GD]X JHEUDFKWKDWWHGLH0HQVFKHQ]XPHLGHQVLH]XKDVVHQ" 'LH$QWZRUWDXIGLHVH)UDJHZDUGHU6FKOVVHO]X&RUSNRUV:HVHQ'RFKGLHVHQ6FKOVVHOPXWHGHU 7LHUElQGLJHUVHOEVWSUlVHQWLHUHQBIUHLZLOOLJ 'HU $XJHQEOLFN ILHO PLU HLQ DOV LFK DXV GHU +|KOH LQV )UHLH JHODQJW ZDU XQG &RUSNRU DXI GLH µYHUZXQGHWHQ7LHUHLQGHU6FKOXFKWKDWWHEOLFNHQVHKHQ :DUHVGHU$QEOLFNGHUJHPDUWHUWHQXQGJHVFKXQGHQHQ.UHDWXUGHULKQIDVWKDWWHYHU]ZHLIHOQODVVHQ GHU YLHOOHLFKW VRJDU DQ VHLQHP YHUKlUWHWHQ *HZLVVHQ JHUKUW KDWWH" 2GHU ZDUHQ HV (QWWlXVFKXQJ XQG RKQPlFKWLJH:XWEHUGLH1LHGHUODJHGLHLKQJHVFKWWHOWKDWWHQ" ,FKEHVD]XZHQLJ(UIDKUXQJXPGLHVH)UDJHPLW6LFKHUKHLWEHDQWZRUWHQ]XN|QQHQ$EHUGDVZDVPLU GLH .OXJKHLW XQG GLH :HLVKHLW )DUWXORRQV DXI GLHVHP *HELHW YHUPLWWHOW KDWWHQ OLH PLFK GLH YLHOVFKLFKWLJHQ =XVDPPHQKlQJHDKQHQ'LH7LHUHZDUHQ&RUSNRUV/HEHQ(ULGHQWLIL]LHUWHVLFKPLWLKQHQ(UOHEWHXQGOLWWPLW LKQHQ *HZLXQWHUKLHOW&RUSNRUDXILUJHQGHLQHP3ODQHWHQVHLQHQSULYDWHQ7LHUSDUNDXVGHPHUMHGHU]HLWGLH HQWVWDQGHQHQ /FNHQ ZUGH ZLHGHU DXIIOOHQ N|QQHQ =ZHLIHOORV NDQQWH HU DXFK GLH .RRUGLQDWHQ ]DKOUHLFKHU

:HOWHQDXIGHQHQHUVHLQHQ7LHUEHVWDQGHUZHLWHUQNRQQWH 'HQQRFK1LHGHUODJHQEHVDHQIU&RUSNRUVLFKHUOLFK6HOWHQKHLWVZHUWHLQH6FKODSSHZLHGLHVHKDWWHGHU .RSIMlJHUZDKUVFKHLQOLFKQRFKQLHPDOVHUOHEW 8QGVRELOGHWHGLH7LHUJHPHLQVFKDIWGLHDXIOlQJHUH=HLWGDV /HEHQ PLW LKP WHLOWH JHZLVVHUPDHQ GDV HUZHLWHUWH ,FK &RUSNRUV 'HU 9HUOXVW EHVRQGHUV GHU LKP QDKHVWHKHQGHQ7LHUHWUDILKQSHUV|QOLFK:HQQVLHVWDUEHQVWDUEDXFKHLQ7HLOYRQ&RUSNRUV6HOEVW

'HU EUHLWH 5FNHQ GHV µ,VVFK¶DDV GHU PLFK SIHLOVFKQHOO ]XU 6WDWLRQ ]XUFNWUXJ VFKDXNHOWH DXI XQG QLHGHU 'LHVPDO JLQJ GHU 7UDQVSRUW DXI DQGHUH :HLVH YRQVWDWWHQ =XYRU KDWWH PLFK HLQ 0HWKDQWLHU LQ HLQHU K|FKVW XQEHTXHPHQ ³%HXWHOKDOWHUXQJ´ ]XU +|KOH JHVFKOHSSW -HW]W VD LFK LQ HLQHP YRQ &RUSNRUV 6SH]LDOVlWWHOQ 'HU *UHLIVFKZDQ] ODJ IHVW XP PHLQHQ .|USHU YHUKLQGHUWH GD LFK EHL GHP UDVHQGHQ 5LWW KHUXQWHUILHO 9RUPLUJDORSSLHUWHGDV7LHU&RUSNRUV'HU7LHUElQGLJHUKDWWHPLUDQJHERWHQPLFKDXIGLHVH$UW]XP 6WW]SXQNW]XUFN]XEULQJHQXQGLFKKDWWHHV$QJHERWDQJHQRPPHQ 'LH)UHXQGHHUZDUWHWHQPLFK(LQHUGHVVSH]LHOODEJHULFKWHWHQ0HOGHY|JHOKDWWHHLQHKDQGJHVFKULHEHQH %RWVFKDIWYRQPLU]XP6WW]SXQNWJHIORJHQ'LHNOHLQHQ7LHUHHUUHLFKWHQHLQHKRKH*HVFKZLQGLJNHLWXQGGLH 1DFKULFKWPXWHOlQJVWLQ)DUWXORRQV+lQGHQVHLQ :lKUHQGZLUGHP7DOHQWJHJHQVWUPWHQIOXWHWHQGLH7LHUHDQXQVYRUEHLGLH&RUSNRUV%HIHKOYRQGHU 6WDWLRQ]XUFNJHKROWKDWWH9RQGHQ9HUOHW]WHQZDUHQQXUGLHOHLFKWHUHQ)lOOHGDEHL 5RERWHU GHU 6WDWLRQ ZUGHQ VLFK GHU VFKZHU YHUOHW]WHQ 7LHUH DQQHKPHQ XQG VLH VR JXW ZLH P|JOLFK YHUVRUJHQ&RUSNRUKDWWHGDUXPJHEHWHQXQGLFKKDWWHGLHVH%LWWHLQPHLQH%RWVFKDIWHLQJHVFKORVVHQ $OVZLULQGDV7DOHLQULWWHQVDKLFKVFKRQYRQZHLWHPGLHJURHQ=HUVW|UlQJHQGLHGLH7LHUHDQJHULFKWHW KDWWHQ (V ZUGH DXFK GLHVPDO ZLHGHU VHLQH =HLW EUDXFKHQ ELV DOOH +DOOHQ .XSSHOQ XQG 7UPH ZLHGHUDXIJHEDXW XQG GLH YLHOHQ YHUQLFKWHWHQ XQG EHVFKlGLJWHQ (LQULFKWXQJHQ 0DVFKLQHQ XQG *HUlWH ZLHGHUKHUJHVWHOOWZRUGHQZDUHQ 'LHYHUKlQJQLVYROOH6FKODFKWKDWWHPLFKHUQHXW]XUFNJHZRUIHQ:DQQHQGOLFKNRQQWHLFKORVVFKODJHQ JHJHQ2UEDQDVFKROXQGVHLQHYHUEUHFKHULVFKH&OLTXH"'HU9HUUlWHUVROOWHHQGOLFKHUIDKUHQGDLFKDP/HEHQ ZDUXQGGDLFKQLFKWUXKHQZUGHELVLFKGHQ7RGPHLQHV9DWHUVJHUlFKWKDWWH 9RU GHP VWDUN ]HUVW|UWHQ +DXSWJHElXGH VWDQGHQ )DUWXORRQ XQG (LVNUDOOH (UOHLFKWHUXQJ ZDU LQ LKUHQ *HVLFKWHUQDOVVLHPLFKZRKOEHKDOWHQVDKHQ (UOHLFKWHUXQJ VSUWH DXFK LFK DOV LFK 7LUDNR *DPQR YRQ UHFKWV NRPPHQ VDK 6HLQ OLQNHU $UP ZDU JHVFKLHQW6RQVWVFKLHQLKPQLFKWV]XIHKOHQ &RUSNRUJDEHLQHQGXPSIHQ*UXQ]ODXWYRQVLFK'DUDXIKLQVFKODQJVLFKGHU*UHLIVFKZDQ]PHLQHV7LHUHV IHVWHUXPPHLQHQ.|USHUKREPLFKYRUVLFKWLJDXVGHP6DWWHOXQGVWHOOWHPLFKDXIGHQ%RGHQ&RUSNRUVWLHJDXI GLHJOHLFKH:HLVHDE 'LH GUHL 0lQQHU VWDUUWHQ DEZHFKVHOQG DXI GHQ .RSIMlJHU XQG GLH 0HWKDQPRQVWUHQ ,KUH *HVLFKWHU GUFNWHQVRYLHOHZLGHUVWUHLWHQGH*HIKOHDXVGDLFKODFKHQPXWH ³'X VFKHLQVW HLQH DPVDQWH =HLW KLQWHU GLU ]X KDEHQ´ VDJWH )DUWXORRQ OHLFKW YHUlUJHUW ³:lKUHQG ZLU XQVXPGLFKJHVRUJWKDEHQ´ ³$XFKLFKZDUDXINHLQHP7DQ]YHUJQJHQ´NRQWHUWHLFK³$EHUGDUEHUVSlWHUPHKU:RLVW6SUDQNJ"´ ³%HUHLWV ZLHGHU DQ GHU $UEHLW :LU ZHUGHQ ZLHGHU HLQH :HLOH ]X WXQ KDEHQ 'DV $XVPD GHU 9HUZVWXQJHQXQG6FKlGHQLVWQRFKQLFKW]XEHUVHKHQ8QGGLHV´HUWUDWDXIGHQ7LHUElQGLJHU]X³KDEHQ ZLUZHQQLFKQLFKWLUUHGLHVHP0DQQ]XYHUGDQNHQ´ ,Q&RUSNRUVKDUWHP*HVLFKW]XFNWHNHLQ0XVNHO(UJDENHLQH$QWZRUW ³&RUSNRU´VDJWHLFKUXKLJ³ZLUGYRQQXQDQIUXQVDUEHLWHQ´ )DUWXORRQVWDUUWHPLFKDQ ³,FKJODXEHGDVZLUVWGXGLUQRFKHLQPDOEHUOHJHQ$WODQ:LOOVWGXHLQHP0DQQYHUWUDXHQGHUHLQH

JDQ]H$UPHHYRQ7LHUHQHLQJHVHW]WKDWXPXQVXP]XEULQJHQ"´ ³&RUSNRUKDQGHOWHLP$XIWUDJ2UEDQDVFKROVGHUEHNDQQWOLFKKRKH3UlPLHQDXIXQVHUH.|SIHDXVJHVHW]W KDW´ ³(ULVWDOVRHLQ.RSIMlJHU´VDJWH)DUWXORRQ9HUDFKWXQJVFKZDQJLQVHLQHU6WLPPH³(UZLUGGLUEHLGHU QlFKVWHQ*HOHJHQKHLWLQGHQ5FNHQIDOOHQ´ (LQHQ$XJHQEOLFNVFKZDQNWHLFK,FKEOLFNWH&RUSNRULQV*HVLFKW5XKLJJDEHUGHQ%OLFN]XUFN'LH $XJHQXQWHUGHQEXVFKLJHQ%UDXHQYHUULHWHQQLFKWV ,FKGDFKWHEHUGLHOHW]WHQ:RUWH)DUWXORRQVQDFK (UZDUQLFKWYRQ$QIDQJDQVRZLHHUMHW]WLVWVDJWHPHLQ([WUDVLQQ 'DV ZDU HV ,UJHQG HWZDV KDWWH &RUSNRU ]XP 0HQVFKHQIHLQG JHPDFKW KDWWH LKQ LQ GLH $UPH MHQHU JHWULHEHQ GLH GDV 9HUEUHFKHQ SURIHVVLRQDOLVLHUWHQ HV ]XP 6WW]SIHLOHU LKUHU 0DFKW HUKREHQ 0DQ PXWH LKP ]HLJHQGDHV0lQQHUJDEGLHIUHLQDQGHUHLQVWDQGHQGLHVLFKEHGLQJXQJVORVDXIHLQDQGHUYHUODVVHQNRQQWHQ &RUSNRUPXWHHLQPDOGLH(UIDKUXQJPDFKHQGDHVHLQH7UHXHJDEGLHQLFKWPLWPDWHULHOOHQ:HUWHQ KRQRULHUW ZXUGH XQG GLH GHVKDOE XP VR IHVWHU EDQG 'DQQ ZUGH²VR JODXEWH LFK IHVWBDXFK GLH 0DXHU HLQEUHFKHQGLHHULP/DXIHGHU=HLWXPVHLQ,QQHUHVJHWUPWKDWWH 6HLQ 9HUKlOWQLV ]X GHQ 7LHUHQ KDWWH PLU JH]HLJW &RUSNRUV HWKLVFKH XQG PRUDOLVFKH (PSILQGXQJHQ ZDUHQBQXUYHUVFKWWHWQLFKWYHUVLHJW )DUWXORRQ ZXWH QLFKWV YRQ PHLQHQ %HREDFKWXQJHQ XQG hEHUOHJXQJHQ 6HLQ 0LWUDXHQ ZDU YHUVWlQGOLFK(VZUGHVFKZLQGHQQDFKGHPLFKLKPGLHOHW]WHQ6WXQGHQJHVFKLOGHUWKlWWH'DQQZUGHDXFKHU HLQVHKHQ GD GHU 7LHUElQGLJHU BZDU HU HLQPDO LQ XQVHUH *HPHLQVFKDIW KLQHLQJHZDFKVHQ²HLQH ZHVHQWOLFKH 9HUVWlUNXQJEHGHXWHWH ³'HU7DJZLUGNRPPHQDQGHP&RUSNRUXQGVHLQH7LHUDUPHHXQVQRFKHLQPDOYRQJURHP1XW]HQVHLQ ZHUGHQ´VDJWHLFK (1'( /HVHQ6LHQlFKVWH:RFKH $7/$11U %HIHKOHGHV%|VHQ YRQ(UQVW9OFHN 7HUURUDXI3ORSKRV²0HQVFKHQLP%DQQHHLQHUGXQNOHQ0DFKW hEHUDOOLP=HLWVFKULIWHQBXQG%DKQKRIVEXFKKDQGHOHUKlOWOLFK 3UHLV'0

Der Ruf der Trommel

Der Ruf der Trommel

Der Ruf Der Trommel

Der Ruf Der Trommel

Der Fluch der Sphinx

Der Fluch der Sphinx

Der Ruf der Trommel

Der Ruf der Trommel

Der Sand der Seele

Der Sand der Seele

Der Fluch der Meerjungfrau

Der Fluch der Meerjungfrau

Der Gott der Mar'osianer

Der Gott der Mar'osianer

Der Schläfer der Zeiten

Der Schläfer der Zeiten

Der Sand der Seele

Der Sand der Seele

Der Stern der Gewalt

Der Stern der Gewalt

Der Fall der Muschel

Der Fall der Muschel

Der Fluch der Opale

Der Fluch der Opale

Der Fluch der Kosmokratin

Der Fluch der Kosmokratin

Der Fluch der Meerjungfrau

Der Fluch der Meerjungfrau

Der Tempel der Ewigkeit

Der Tempel der Ewigkeit

Der Kerker der Wölfe

Der Kerker der Wölfe

Der Ring der Kosmokraten

Der Ring der Kosmokraten

Der Magier der Erdsee

Der Magier der Erdsee

Der Tempel der Mondgottin

Der Tempel der Mondgottin

Der Club der Teufelinnen

Der Club der Teufelinnen

Der Fluch der Schriftrollen

Der Fluch der Schriftrollen

Der Stein der Weisen

Der Stein der Weisen

Der Stern der Nacht

Der Stern der Nacht

Der Amboss der Sterne

Der Amboss der Sterne

Der Fürst der Finsternis

Der Fürst der Finsternis

Der Preis der Unsterblichkeit

Der Preis der Unsterblichkeit

Der letzte der Machtigen

Der letzte der Machtigen

Der Traum der Nevever

Der Traum der Nevever

Der Herr der Drachen

Der Herr der Drachen

Der Herr der Lügen

Der Herr der Lügen

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