University of New MexicoUNM Digital Repository

Latin American Studies ETDs Electronic Theses and Dissertations

5-1-2011

"God Must Have Been a Feminist to Make Me":Writings from the Girls of El Hogar la BuenaEsperanzaAnna Lapera

Follow this and additional works at: https://digitalrepository.unm.edu/ltam_etds

Part of the Latin American Languages and Societies Commons

This Thesis is brought to you for free and open access by the Electronic Theses and Dissertations at UNM Digital Repository. It has been accepted forinclusion in Latin American Studies ETDs by an authorized administrator of UNM Digital Repository. For more information, please contactdisc@unm.edu.

Recommended CitationLapera, Anna. ""God Must Have Been a Feminist to Make Me": Writings from the Girls of El Hogar la Buena Esperanza." (2011).https://digitalrepository.unm.edu/ltam_etds/6

! "!

! ""!

! ! ! ! !

! !! !

! !! !

! !

!

!!!!!

!!"#$%!&'()!*+,-!.--/!+!0-&1/1()!)$!&+2-!&-"3!

451)1/#(!05$&!)*-!#156(!$0!!-6!*$#+5!6+!.'-/+!!

-(7-5+/8+!!

!

.9!!

!

+//+!6+7-5+!!

.+:*-6$5(!1/!7-+:-!()'%1-(;!#$':*-5!:$66-#-!

!!!!!

!

!!!!!

!!

!

!

!

!!

!

!!

#$%&'&!!

&()*"++,-!".!/01+"02!3(24"22*,.+!54!+6,!

7,8("1,*,.+9!451!+6,!:,;1,,!54!!

&<=>?@!AB!+@>=!6<>CD!+E?@CF<D!(>GHC?=!

!

#6,!<."=,19"+>!54!?,@!A,B"C5!D2)(8(,18(,E!?,@!A,B"C5!

!

!&<I!JKLL!

! """!

Dedicated to Petey,

Franca, Molly, y las Poetas del Convento

! "=!

! ! ! ! !

! !! !

! !! !

! !

!"#$%!&'()!*+,-!.--/!+!0-&1/1()!)$!&+2-!&-"3!!

451)1/#(!05$&!)*-!#156(!$0!-6!*$#+5!6+!.'-/+!-(7-5+/8+!

!!!!!

!!!

By

!

!

+//+!6+7-5+!!

!

!

!

!!

!

!

!

!

!

!

!!

ABSTRACT OF THESIS

!Submitted in Partial Fulfillment of the

Requirements for the Degree of

!

&<=>?@=!AB!+@>=!6<>CD!+E?@CF<D!(>GHC?=!

!The University of New Mexico

Albuquerque, New Mexico

!!

&<I!JKLL!

! =!

!"#$%&'($)*+,$-,,.$*$/,01.1'($("$%*2,$%,3$!

4@C>CDM=!B@AE!>N?!#C@O=!AB!-O!*AM<@!O<!.G?D<!-=P?@<DQ<!

!

.I!

!

+DD<!6<P?@<!

!

B.A., Peace Studies, Goucher College, 2008

!

+.()5+:)!!

A>!+6,9"9E!F!"#$%&'($)*+,$-,,.$*$/,01.1'($("$%*2,$%,3G!H1"+".;9!315*!+6,!

I"129!54!%2!$5;01!20!J(,.0!%9K,10.L0!"9!0!4,*"."9+!,+6.5;10K6>!54!0!K5,+1>!@51M965K!

'!C5.-(C+,-!5=,1!+61,,!*5.+69!".!,2!$5;01!20!J(,.0!%9K,10.L0E!0!65*,!451!(.-,1N

K1"="2,;,-!".-";,.5(9!;"129!25C0+,-!@"+6".!0!C25"9+,1,-!O01*,2"+,!O5.=,.+!".!+6,!

.51+6,09+,1.!/,1(="0.!D*0L5.P!!!J09,-!5.!9,=,.+,,.!;"129!0.-!5=,1!45(1+,,.!

-"44,1,.+!C1,0+"=,!@1"+".;!0C+"="+",9E!'!,BK251,!65@!+6,"1!@1"+".;9!1,=,02!K01+"C(201!

2"4,!6"9+51",9!".!Q0+".!D*,1"C0P!!315*!1,"*0;".".;!0.-!1,N@1"+".;!9+51",9!0.-!

*,*51",9!54!+6,"1!25.;!-,K01+,-!65*,+5@.9E!1,N@1"+".;!9*022N+5@.!6"9+51",9R!415*!

,BK251".;!+6,!C(2+(102!)51-,19!,BK,1",.C,-!".!+6,!2,0=".;!54!+10-"+"5.02!="220;,!2"4,!+5!

201;,!+5@.!K51+10"+!*0M".;!54!*(2+"K2,!"-,.+"+",9!+60+!965@!+60+!"-,.+"+",9!C0.!),!

*0.>E!0.-!451*!)>!,BK,1",.C,!10+6,1!+60.!5.!+6,!;,5NK52"+"C02!2".,9!+60+!9,K010+,9!

5.,!.0+"5.!415*!0.5+6,1R!415*!.0110+".;!="52,.+!K52"+"C02!C5.42"C+!),+@,,.!

".-";,.5(9!K52"+"C02!51;0."L0+"5.9!0.-!/,1(="0.!*"2"+01>!5=,1!20.-!+60+!451C,-!+6,*!

+5!2,0=,!+6,!C5.=,.+!451!0!*5.+6E!415*!,BK251".;!@60+!65*,!0.-!"-,.+"+>!*,0.!+5!

".-";,.5(9!;"129!".!0!)51-,1N".451*,-!K010-";*!54!0!Q0+".!D*,1"C0!+60+!@5(2-!

! ="!

10+6,1!.,0+2>!K20C,!+6,*!".!5.,!K20C,!415*!,BK251".;!+6,!)51-,120.-!+6,>!

,BK,1",.C,!),+@,,.!;"12655-!0.-!@5*0.655-E!0.-!"*0;".".;!0!4(+(1,!@5*0.655-!

41,,!54!C5.9+10".".;!K0++,19!;"129!01,!,BK,C+,-!+5!2"=,!5(+E!0.-!4(22!54!25=,E!+10=,2!0.-!

9,24N1,=,20+"5.!S@6"C6!+6,>!022!,BK1,99!+6,!-,9"1,!+5!60=,TR!415*!022!54!+6,9,E!+6,"1!

@1"+".;!+0M,9!(9!0.-!+6,*!+615(;6!2"++2,!M.5@.!)51-,120.-9!".!Q0+".!D*,1"C0.!0.-!

4,*"."9+!,BK,1",.C,P!

'.!+6,!+6,9"9E!'!,BK251,!+6,!K6>9"C02!0.-!C5.C,K+(02!)51-,120.-9!+6,>!C1599!".!

51-,1!+5!011"=,!0+!+6,!C5.=,.+E!0.-!65@!+6,>!"*0;".,-!.,;5+"0+".;!+6,9,!

)51-,120.-9!".!+6,!4(+(1,P!!#615(;6!+6,9,!0C+"="+",9E!+6,>!-,=,25K!)5+6!0!+,B+(02!0.-!

*0+,1"02!1,20+"5.96"K!@"+6!+6,*9,2=,9!09!;"129E!451C".;!(9E!09!@5*,.E!09!5.C,N;"129!

0.-!09!0C0-,*"C9!+5!1,N="9"+!0.-!1,N@51M!+6,!9K0C,9E!01C6"+,C+(1,E!)51-,120.-9E!

)5-",9E!+6,!-,4"."+"5.9!0.-!@51ME!+60+!)5+6!,.;0;,!0.-!01,!,.;0;,-!)>!I"129P!!

!

! =""!

)<RO?!AB!:AD>?D>=!

!

'.+15-(C+"5.! ! ! ! ! ! ! ! ! ! U!

O60K+,1!U! %+6.5;10K6>! ! ! ! ! ! ! ! VW! !

O60K+,1!V! %1$4"#,5$,'$)*6,5$7"8*5$9*'*':$ $ $ $ $ XW$

O522,C+"=,!*0K!415*!$5*,!+5!)";*5$

O60K+,1!X! <&$=18,.61"$,'(*$6"0"$'1$,8$>5?"8$."$',$%"+1,5*G! ! ! YZ!

D.![-,!+5!+6,!$5*,+5@.!'!2,4+!J,6".-!

O60K+,1!W! 9"0"$@8,;&A$*8$9".+,.("G! ! ! ! ! ! \Z! !

&,.951>!#10=,2!/5,*9!D)5(+!+6,!]5(1.,>!415*!$5*,!+5!O5.=,.+!

O60K+,1!Y! )"B$C*61D$E.*$C1F*$),50"'*$B$G,?,8#,:$ $ $ $ UU^!

?0110+"=,9!54!#10.9451*0+"5.! ! ! ! ! ! !

O60K+,1!^! O(,.+59!-,!20!$(,2;0!! ! ! ! ! ! UWX!

O60K+,1!_! H8&01.*.#"$,8$0&.#"I0,$6".+1,5("$,.$4JK*5":$ $ $ UY_!

$'.=,.+,-!2,;,.-9!0.-!;"12!K15+0;5."9+9!

O60K+,1!\! F`a(,!7,5;L,.M*N3$A,.9+1(0+"5.!0.-!K(),1+>!".!+6,!C5.=,.+! U\Y!

O60K+,1!Z! %1$=,65,("$(1,.,$'*?"5$*$0*.M*.*O$$ $ $ $ $ UZ^!

*$+,6,'$8"$;&*5#"O$*$+,6,'$8"$6&,.(":$b,,K".;!&,C1,+9!".!+6,!O5.=,.+$

O60K+,1!Uc! ="B$%&K,5O$="B$4,5&*.*O$B$88,+"$01$$ $ $ $ $ VUW!

P,50"'"$Q&,?8"$#,.(5"$#,$01:$/5,*9!0.-!/51+10"+9!54!'-,.+"+>!

O60K+,1!UU! %9K,d59! ! ! ! ! ! ! ! VX^!

O60K+,1!UV! R$-*551;*$S&,51#*G![-,9!+5!Q5=,-!0.-!$0+,-!J5->!/01+9! ! VWV!

O60K+,1!UX! ="B$8*$@8&+1"'*O$="B$8*$9*8&5"'*:$ $ $ $ $ V^W!

%BK251".;!@5*0.655-!+615(;6!K5,*9!+60+!),;".!

@"+6!Fe5!&5>f!

O60K+,1!UW! T'U$Q"#5U*$',5$8*$,V*6(*$0&K,5$,.$W&,$'"B$ $ $ $ V\_!

B$8*$W&,$W&1'1,5*$',5:$$$$/5,*9!0)5(+!@60+!"+!+0M,9!+5!),!0!@5*0.!

O60K+,1!UY! 3(22!H5*,.E!gS&,51#*$X"Y$Z,'#,$,8$/&(&5"E!0.-!! ! ! VZY!

95*,!O5.C2(9"5.9

! U!

1D>@AHGF>CAD!!

#5-0>!"9!A0-1,!IPh9!Xc+6!)"1+6-0>P!!&6,E!2"M,!A0-1,!'PE!652-9!0.!".+,1,9+".;!

K59"+"5.!@"+6".!+6,!C5.=,.+!9+1(C+(1,P!!A0-1,!I!0.-!A0-1,!'!01,!+6,!5.2>!.(.9!@65!

01,!.5+!C25"9+,1,-!".!+6,!$5;01!20!J(,.0!%9K,10.L0E!0!C5.=,.+!".!+6,!.51+6,09+,1.!

d(.;2,9!54!/,1(E!>,+!+6,>!9+10--2,!)5+6!+6,!C25"9+,1,-!0.-!+6,!.5.NC25"9+,1,-!K01+9!54!

+6,!C5.=,.+G!0)2,!+5!,.+,1!+6,!C25"9+,1!0.-!2,0=,!0+!@"22E!0!K1"="2,;,!5.2>!+6,!A0-1,!

&(K,1"510!0.-!+6,!/1"510!60=,P!!!Q"M,!+6,!U^!;"129!@65!01,!65(9,-!".!+6,!$5;01E!0.-!

2"M,!+6,!VV!.(.9!@65!2"=,!".9"-,!+6,!C25"9+,1,-!9,C+"5.!0.-!@65!.,=,1!2,0=,!0.-!01,!

.,=,1!9,,.E!)5+6!A0-1,!I!0.-!A0-1,!'!01,!".-";,.5(9!@5*,.!@65!60=,!+10=,22,-!401!

+5!011"=,!6,1,P!!!

!

Q"M,!+6,!;"129E!+6,>!0295!4"19+!011"=,-!6,1,!0+!+6,!$5;01!Q0!J(,.0!%9K,10.L0!0+!

0!>5(.;!0;,E!0.-!C0*,!54!0;,!09!1,9"-,.+9!54!+6,!C5.=,.+E!)5+6!),C5*".;!.(.9!)>!0;,!

U\P!!A0-1,!'!02@0>9!M.,@!96,!@0.+,-!+5!),!0!.(.P!!A0-1,!IE!5.!+6,!5+6,1!60.-E!@09!

9,.+!6,1,!)>!6,1!K01,.+9!0+!0;,!UV!04+,1!),".;!C0(;6+!-1".M".;!0.!,.+"1,!)5++2,!54!

@".,!0.-!2,++".;!2559,!Vcc!)0)>!C6"CM,.9P!!&6,!90"-!96,!60+,-!+6,!.(.9!451!+1>".;!+5!

C5.+152!6,1!2"4,P!![.,!.";6+!65@,=,1E!-(1".;!92,,KE!96,!,BK,1",.C,-!0!+10.9451*0+"5.P!!

H6,.!96,!0@5M,!+6,!.,B+!-0>E!96,!4,2+!0!C022".;!415*!I5-!+5!),C5*,!0!.(.P!!!

!

#5-0>!"9!A0-1,!Ih9!)"1+6-0>E!0.-!+6,!K01+>!"9!6,2-!".!+6,!25C(+51"5N!+6,!5.,!

155*!+60+!C5..,C+9!)5+6!K01+9!54!+6,!C5.=,.+!+615(;6!-5()2,!20>,19!54!@55-,.!)019P!!

[.!+6"9!.";6+E!+6,1,!"9!0!-0.C,!544E!@6,1,!022!+6,!C25"9+,1,-!.(.9!K1,K01,!+10-"+"5.02!

! V!

-0.C,9!415*!+6,"1!.0+"=,!C5**(."+",9!S2"M,!+6,!;"129E!022!C5*,!415*!-"9+".C+!.0+"=,!

C5**(."+",9TE!0.-!5.!+6,!5+6,1!,.-!54!+6,!25C(+51"5!01,!022!54!A0-1,!Ih9!.5.N

1,2";"5(9!41",.-9!S96,!609!*0.>T!09!@,22!09!+6,!4,@!K1",9+9!96,!90>9!96,!;,+9!025.;!

@"+6!0.-!-5.h+!d(-;,!6,1!*8,;5U*E!@65!@,1,!K1,K01".;!-"44,1,.+!.0+"5.02!-0.C,9E!

9(C6!09!%*51.,5*'!0.-!#*.M*'$["828D516*'P!!!

!

A0-1,!I!60-!9K,.+!022!.";6+!".!+6,!C25"9+,1!@"+6!+6,!.(.9E!96,!90"-E!K1,K01".;!

K,0C6!K"9C5!95(19P!!#615(;6!+6,!@55-,.!)019E!9.0CM9!0.-!9*022!K209+"C!965+9!@,1,!

K099,-E!09!@,22!09!92"K9!54!K0K,1!".!@6"C6!022!;(,9+9!=5+,-!5.!@6"C6!9"-,!@5.!+6,!

-0.C,N544G!C25"9+,1,-!.(.9!=9P!".="+,-!K01+>!;(,9+9P!!!

!

J,C0(9,!54!+6,!@55-,.!)019E!+6,!C25"9+,1,-!.(.9!C0..5+!),!9,,.!+55!C2,012>E!

10+6,1!5.2>!".!;2"*K9,9P!!#6,1,!"9!.5!5+6,1!K20C,!2"M,!+6,!8"6&("51"!+60+!,B,*K2"4",9!

65@!+6,!C5.C,K+!54!0!)51-,120.-!C5(2-!,B"9+!.5+!5.2>!09!0!;,5NK52"+"C02!)011",1E!)(+!

0295!09!0!C5.C,K+(02!415.+",1E!,=,.!@"+6".!0!9*022!9K0C,!2"M,!+6"9P!!#6,!8"6&("51"!"9!0!

)51-,120.-!+60+!,B"9+9!".9"-,!+6,!9+1(C+(1,!54!+6,!C5.=,.+E!-"="-".;!C5.=,.+!0.-!

C25"9+,1E!;"129!0.-!.(.9E!C5**(."+>!0.-!.(.9E!,+CP!)(+!@"+6".!+6"9!)011",1!+60+!-"="-,9!

C5.=,.+!0.-!C25"9+,1E!+6,1,!01,!0295!*0.>!9"*"201"+",9!),+@,,.!+6,9,!@512-9!

9,K010+,-!)>!@55-,.!)019P!!351!,B0*K2,E!*0.>!54!+6,9,!;"129!\*.(!+5!),C5*,!.(.9P!!

D2+65(;6!+6,>!01,!.5+!".!+6,!C5.=,.+!451!+6,!K(1K59,!51!+10".".;!54!),C5*".;!.(.9E!

+6,>!955.!-,=,25K!0.!".+,1,9+!".!"+E!0.-!*0.>E!0+!U\E!),C0(9,!54!,"+6,1!1,d,C+"5.!415*!

(."=,19"+",9E!0.!(.@"22".;.,99!+5!1,+(1.!+5!0!65*,+5@.!+5!),01!.(*,15(9!C6"2-1,.!

0.-!@51M!".!0;1"C(2+(1,E!51!K(1,!-,9"1,!0.-!C65"C,E!,.-!(K!09!."+161*']!!

! X!

#6(9E!+6"9!155*E!+6,!5.2>!155*!@6,1,!C25"9+,1!0.-!C5.=,.+!),C5*,!9,*"!

="9")2,!+5!,0C6!5+6,1E!1,=,02".;!+6,*9,2=,9!+5!,0C6!5+6,1E!4(.C+"5.9!09!0!)51-,120.-P!!

Q55M".;!0+!+6"9!9K0C,N+6,!,.+"1,!C5.=,.+!9+1(C+(1,!09!@,22!09!+6"9!155*N+615(;6!0!

C(2+(102!)51-,1!+6,51>!2,.9!1,=,029!0!;1,0+!-,02!0)5(+!;"129E!0.-!9K,C"4"C022>!+6,9,!

;"129h!,BK,1",.C,!54!Q0+".!D*,1"C0P!

!

!

-SPO<D<>CAD!AB!7@AT?F>!

!

'.!Vcc\E!'!4"19+!+10=,22,-!@"+6!41",.-9!0.-!,-(C0+519E!310.C0!0.-!A522>E!+5!

$5;01!20!J(,.0!%9K,10.L0!".!e(1"*0;(09!+5!-,=,25K!0!4,*"."9+!K5,+1>!C(11"C(2(*!

451!0!;15(K!54!;"129!@65!01,!(K155+,-!415*!401N0@0>!".-";,.5(9!65*,!="220;,9!0.-!

65(9,-!".!0!C5.=,.+!*0-,!(K!54!+@5!.5.NC25"9+,1,-!.(.9!0.-!5=,1!+@,.+>!C25"9+,1,-!

.(.9E!-,-"C0+,-!+5!K15="-".;!+6,9,!;"129!@"+6!C25+6".;E!455-E!96,2+,1!0.-!,-(C0+"5.!

@"+6!+6,!65K,9!+60+!04+,1!C5*K2,+".;!6";6!9C6552!+6,>!@"22!60=,!+6,!".-,K,.-,.C,!

0.-!,-(C0+"5.!0.-!C65"C,9!+5!)("2-!+6,!2"4,!+6,>!@0.+P!!'!1,+(1.,-!025.,!451!+61,,!

*5.+69!-(1".;!+6,!9(**,1!54!VcUc!@"+6!0.!0-0K+,-!C1,0+"=,!@1"+".;!C(11"C(2(*!

@6"C6!'!-,=,25K,-!".!+6,!65K,9!+60+!+6,!0C+"="+",9!@5(2-!0225@!+6,!9"B+,,.!;"129!+5!

,.;0;,!@"+6!+6,!@1"+".;!451!+6,!K(1K59,!54!;"=".;!+6,*!0!C60.C,!+5!=5"C,!0.-!

01+"C(20+,!+6,"1!,BK,1",.C,9P!!!

!

#6,!*0".!K(1K59,!),6".-!+6,9,!0C+"="+",9!@09!;"=".;!=5"C,!+5!+6,!+10.9"+"5.!

),+@,,.!;"12655-!0.-!@5*0.655-!+6,>!01,!,BK,1",.C".;P!'!C1,0+,-!+6,9,!+6"1+>!K2(9!

! W!

0C+"="+",9!".!+6,!65K,9!+60+!+6,>!@5(2-!5K,.!0!-"9C(99"5.!0)5(+!C(2+(102!)51-,120.-9E!

0.-!;"=,!=5"C,!+5!0!)1",4!0.-!C1"+"C02!*5*,.+!".!+6,!+10.9"+"5.!),+@,,.!>5(.;!

@5*0.655-!0.-!0-(2+!@5*0.655-P!!'!0295!65K,-!+60+!+6,!0C+"="+",9!@5(2-!0225@!

;"129!+5!,.;0;,!@"+6!0.-!;"=,!=5"C,!+5!0!9K0C,!0.-!*5*,.+!0.-!)51-,1!451!@6"C6!@,!

60=,!.5!0(+6,.+"C!@51M".;!-,4"."+"5.!51G!(P,15'!0.-!+60+!54!;"129!".!0!K01+"C(201!Q0+".!

D*,1"C0.!C5.+,B+P!!#6,!9+51",9!0.-!K5,*9!K15-(C,-!+615(;6!+6,9,!0C+"="+",9!)1".;!

5(+!@60+!'!@"22!-"9C(99!".!+6,!+6,9"9G!+6,!,BK,1",.C,!0.-!*5=,*,.+!+615(;6!

)51-,120.-9!,BK251,-!".!+6,!;"129h!@1"+".;E!0.-!0.!,BK2510+"5.!54!@60+!9K0C,!0.-!

)51-,19!60=,!+5!-5!@"+6!+6,"1!2"=,9!0.-!+6,"1!9,.9,!54!"-,.+"+>!0.-!@5*0.655-P!!

H60+!C5(2-!0.!,B0*".0+"5.!54!C1"+"C02!)51-,1!+6,51>!,BK20".!0)5(+!0!;15(K!54!9"B+,,.!

;"129!(K155+,-!415*!+6,"1!65*,!="220;,9!+5!2"=,!".!0!C5.=,.+!401!415*!65*,i!

!

#6,!0C+"="+",9!'!C1,0+,-!0.-!+6,!6,01+!54!+6"9!@51M!C5*,!415*!*>!409C".0+"5.!

@"+6!;"129h!C5*".;!54!0;,!9+51",9!0.-!*>!65K,!+60+!+6"9!C5(2-!),;".!+6,!C1,0+"5.!54!

C,.+,19!-,-"C0+,-!+5!K()2"96".;!+6,!@51M!54!;"129h!".!*01;".02"L,-!9,++".;9P!!'!

0KK150C6!+6,"1!@1"+".;!.5+!9"*K2>!09!),0(+"4(2!0.-!+02,.+,-!@51M9!S+65(;6!+6,>!01,!

)5+6TE!)(+!10+6,1E!'!255M!0+!@60+!C1,0+"=,!@1"+".;E!451!(P,0E!451!*01;".02"L,-!;,.-,19!

54!*01;".02"L,-!0;,9!54!*01;".02"L,-!,+6."C"+",9!54!*01;".02"L,-!C5**(."+",9E!C0.!

2,0-!(9!+5P!!D!C5.9"-,10+"5.!54!)51-,1!+6,51>!0225@9!(9!+5!=",@!+6,"1!@1"+".;!09!

C1599".;!)51-,19E!8(,9+"5.".;!)51-,19E!1,9"9+".;!)51-,19!+5@01-!0!201;,1!;502!54!

4,*".".,!2"),10+"5.!".!+6,*9,2=,9E!+6,!1,;"5.E!0.-!),>5.-P!

!

!

! Y!

:@C>CF<O!+PP@A<FN!

!

! ! ! ! ! [$!K0+1"0!8(,1"-0E!

! ! ! ! ! a(,!)5."+59!95.!209!6"9+51"09!-,!*"9!6,1*0.59!

! ! ! ! ! a(,!(.!-j0!259!,9K0k52,9!-,9+1(>,15.P!

! ! ! ! ! ! N75Cj5E!U\E!F[-0!0!A"!'-,.+"-0-f!

!

! ! ! ! ! #6,>!),C0*,!251-9!0.-!95(.-9!54!2,99,1!+6".;9E!

! ! ! ! ! #6,>!K099,-!.0+"5.9!+615(;6!+6,"1!*5(+69P!

! ! ! ! ! ! Nl510!?,02!$(19+5.E!!

F#6,"1!%>,9!H,1,!H0+C6".;!I5-f!UZX_!

!

!

#6,51"9+!%-@01-!&5d0!5K,.9!6"9!)55M!F&,,M".;!&K0+"02!](9+"C,f!SVcUcT!@"+6!0.!

,K";10K6!415*!0!2,++,1!A01+".!Q(+6,1!b".;!@15+,!".!J"1*".;60*!]0"2!".!UZ^XP!!'+!

1,0-9G!F!g'.d(9+"C,!0.>@6,1,!"9!0!+61,0+!+5!d(9+"C,!,=,1>@6,1,h!f!S=""TP!!'+!"9!+,22".;!+60+!

&5d0!5K,.9!0!)55M!0)5(+!)("2-".;!0!9K0+"022>N".451*,-!0KK150C6!+5!6"9+51>!0.-!

C(2+(1,E!@"+6!0!8(5+,!0)5(+!".d(9+"C,P!!!&5d0!),2",=,9!+60+!0+!+6,!6,01+!54!5(1!

".+,10C+"5.9E!09!6(*0.9E!+5!)5+6!5(1!K6>9"C02!0.-!"*0;".0+"=,!;,5;10K6",9E!"9!+6,!

C5.9+1(C+,-E!(.d(9+!@0>9!".!@6"C6!+60+!;,5;10K6>!C0*,!+5!),P!!35225@".;!+6"9!"-,0E!

@,!C5(2-!90>!+60+!451!C,1+0".!;,5;10K6",9!+5!@51M!451!95*,E!"+!"9!0+!+6,!,BK,.9,!54!

+6,"1!40"2(1,!451!5+6,19P!!#,.9"5.!01"9,9E!+6(9E!@6,.!022!K01+",9!4".-!+6,*9,2=,9!".!+6,!

)51-,120.-9!54!+6,9,!C5.9+1(C+,-!;,5;10K6",9P!!!&5d0h9!C5.C,1.!54!K5@,1!0.-!

".d(9+"C,!015(.-!+6,!*0."4,9+0+"5.!54!)51-,19!1,=,029!+6,!152,!54!+6,9,!)51-,19!".!+6,!

! ^!

*01;".02"L0+"5.!54!95*,!"-,.+"+",9!0.-!+6,!C,.+102"L".;!54!5+6,19P!!#6,!0@01,.,99!54!

+6,9,!451C,9!2,0-9!(9!+5!@60+!6,!C0229!0!.,@!9K0+"02!C5.9C"5(9.,99G!!

#6,!;,5;10K6",9!".!@6"C6!@,!2"=,!C0.!".+,.9"4>!0.-!9(9+0".!5(1!,BK25"+0+"5.!09!

@51M,19E!9(KK51+!5KK1,99"=,!451*9!54!C(2+(102!0.-!K52"+"C02!-5*".0+"5.!)09,-!5.!

10C,E!;,.-,1E!0.-!.0+"5.02"+>E!0.-!0;;10=0+,!022!451*9!54!-"9C1"*".0+"5.!0.-!".d(9+"C,P!!

H"+65(+!+6"9!1,C5;."+"5.E!9K0C,!"9!2"++2,!*51,!+60.!0!)0CM;15(.-!C5*K2"C0+"5.!

S=,,21.;$=Q*(1*8$^&'(16,O!UZTP!

!

&5!@60+!-5,9!0!-"9C(99"5.!54!;,5;10K6>!0.-!9K0C,!60=,!+5!-5!@"+6!9"B+,,.!

0-52,9C,.+!".-";,.5(9!;"129!(K155+,-!+5!0!C5.=,.+!".!0!C"+>!".!+6,!/,1(="0.!D*0L5.!

@6,1,!+6,>!2"=,!@"+6!+6,!*,*51>!54!K09+!;,5;10K6",9!0.-!C5*,!54!0;,!".!.,@!5.,9i!!

'4!@,!5K,.!+6"9!(K!+5!0!-"9C(99"5.!54!d(9+"C,E!09!&5d0!-5,9E!+6,.!;,5;10K6>!0.-!9K0C,!

01,!+6,!.0+(102!0.-!*59+!C1"+"C02!K5".+9!415*!@6"C6!@,!'P"&8#!),;".P!!!

!

&5d0h9!"-,09!451*!K01+!54!+6,!+6,51,+"C02!(.-,1K"..".;!54!@60+!".451*9!*>!

@51MG!O1"+"C02!J51-,1!#6,51>P!!O1"+"C02!J51-,1!#6,51>E!2"M,!*59+!+6,51",9!+60+!01,!

*5+"=0+,-!)>!0.-!.(1+(1,!+6,!"-,0!54!d(9+"C,E!0159,!5(+!54!+6,!96"4+".;!1,02"+",9!54!

*01;".02!C5**(."+",9P!!'+!"9!.5!25.;,1E!.51!965(2-!"+!,=,1!60=,!),,.E!9(44"C",.+!+5!+02M!

0)5(+!;,5;10K6>!09!+6,!.0+(102!9,K010+"5.!0.-!-,9";.0+"5.!54!K6>9"C02!9K0C,E!

),C0(9,!+6,1,!01,!*51,!0.-!*51,!K,5K2,!@65!,B"9+!@"+6".!+6,!)51-,120.-9!54!+6,9,!

9K0C,9P!!#6,1,451,E!0.!".-";,.5(9!;"12!@65!"9!10"9,-!".!0!+10-"+"5.02!="220;,!".!+6,!

?51+6,1.!D*0L5.!0.-!@65!"9!(K155+,-!),C0(9,!54!K5=,1+>!0.-!,C5.5*"C!

C"1C(*9+0.C,9E!+5!0!C5.=,.+!+60+!K15*"9,9!455-E!96,2+,1!0.-!,-(C0+"5.!".!0!95(+6,1.!

! _!

(1)0.!*,9+"L5!4"96".;!K51+!".!+6,!95(+6,1.!D*0L5.!@6,1,!96,!C5*,9!54!0;,E!C1,0+,9!

0!.,@!C5.C,K+(02!0.-!K6>9"C02!;,5N6"9+51>!0.-!451C,9!(9!+5!C5.9"-,1!.,@!"-,.+"+",9!

0.-!.,@!@0>9!54!".+,10C+".;!@"+6!+6,!@512-P!!

!

!! D!C1"+"C02!0KK150C6!+5!)51-,1!+6,51>E!+6(9E!)1".;9!+5!2";6+!+659,!@65!9+10--2,!

*(2+"K2,!@512-9!0.-!*(2+"K2,!"-,.+"+",9P!!315*!C525."L0+"5.h9!="52,.+!-10@".;!54!

2".,9!5.!+6,!D41"C0.!C5.+,.+!".+5!(..0+(102!0.-!K(1K59,4(22>!C(2+(1022>!C5.42"C+".;!

.0+"5.9E!+5!+6,!)01),-!@"1,!4,.C,9!025.;!+6,!A,B"C0.ND*,1"C0.!)51-,1E!+5!+6,!9,22".;!

54!".-";,.5(9NC(2+"=0+,-!20.-9!".!Q0+".!D*,1"C0!+5!K1"=0+,!".+,1.0+"5.02!,.+,1K1"9,9E!

+5!;,.+1"4"C0+"5.!".!+6,!<."+,-!&+0+,9!+60+!C0(9,9!+659,!),25@!+6,!K5=,1+>!2".,!+5!),!

65*,2,99!".!.,";6)51655-9!+60+!10"9,-!*(2+"K2,!;,.,10+"5.9!54!+6,"1!5@.!40*"2",9E!+5!

10C"02!9,;1,;0+"5.!54!C"+",9!015(.-!+6,!@512-!+60+!M,,K!C,1+0".!C5**(."+",9!

*01;".02!0.-!C,1+0".!".!+6,!C,.+,1R!+6,9,!96"4+".;!1,02!0.-!"*0;".,-!;,5;10K6",9E!

2".,9!0.-!)51-,19E!60=,!K15-(C,-!0.-!01,!K15-(C".;!.,@!"-,.+"+",9E!.,@!9"+,9!54!

".d(9+"C,!0.-!.,@!9"+,9!54!K&'(16,_',,21.;P!!351!,0C6!2".,E!@022!0.-!4,.C,!)("2+E!0!.,@!

"-,.+"+>!451*9P!

!

!,.,5*8$1#,*'$*.#$2,B$(P,"51'('$

$

J51-,1!#6,51>!96"4+9!+6,!45C(9!415*!0!C5.9"-,10+"5.!54!;,5K52"+"C02!)51-,19!

S2".,9!5.!0!*0KE!4,.C,9!".!+6,!-,9,1+T!+5!0!C5.9"-,10+"5.!54!C(2+(102!)51-,19E!

,B0*".".;!65@!K5@,1E!".,8(02"+>E!0.-!1,9"9+0.C,!4(.C+"5.!".!.0+"5.02E!C(2+(102E!0.-!

4".022>!*51,!1,C,.+2>E!;,.#,5!"-,.+"+>!451*0+"5.P!!D!C1"+"C02!0KK150C6!+5!)51-,1!

! \!

9+(-",9!609!021,0->!-,,K2>!".42(,.C,-!*0.>!95C"02!9C",.C,!0.-!6(*0."+",9!4",2-9E!

K(96".;!+6,*!+5!C5.9"-,1!51!1,NC5.9"-,1E!".!95*,!C09,9E!;,.-,1E!9K0+"02"+>E!K5@,1E!

0.-!C1"+"C02!0KK150C6,9!+5!6"9+51>P!!&5*,!M,>!+6,51"9+9!@65!60=,!".42(,.C,-!+6,!

O1"+"C02!J51-,1!#6,51>!01,!%-@01-!&5d0E!O2"4451-!I,,1+LE!D*m1"C5!/01,-,9E!J,.,-"C+!

D.-,195.E!I251"0!D.L02-n0E!]59m!Q"*o.E!7,.0+5!75902-5E!l510!?,02!$(19+5.!0.-!J,22!

$55M9P!!#6,"1!@51M9!9K0.!+6,!-"9C"K2".,9!54!D.+615K525;>E!DC+"="9*E!

,+6.5;10K6>p452M251,!0.-!2"+,10+(1,P!

!

&5d0h9!*59+!0KK2"C0)2,!+,1*E!FC1"+"C02!;,5;10K6"C!"*0;".0+"5.f!S<P15#$=Q*6,O$

UZZ^T!1,C5.C,K+(02"L,9!C5**(."+",9h!9K0C,!0.-!;,5;10K6>!09!0!K15-(C+!54!0!

C(2+(1,h9!C522,C+"=,!S1,T"*0;".".;!54!"+9!6"9+51>!0.-!"-,.+"+>P!!I,,1+L!"9!M.5@.!451!

C1,0+".;!+6,!".+,1K1,+"=,$0KK150C6E!1,-,4".".;!+6,!152,!54!+6,!,+6.5;10K6,1!0.-!

+6,1,451,!,+6.5;10K6>!"+9,24!09!0!@0>!+5!C1"+"C022>!255M!451!9>*)529!0.-!*,0.".;9E!

,BK0.-".;!+6,!C5.C,K+!54!9,*"5+"C9!+5!0!*51,!C5*K2"C0+,-!F+6"CM!-,9C1"K+"5.f!

SUZ_XTP!$"9!@51M!"9!6,2K4(2!".!0225@".;!*,!+5!1,N"*0;".,!*>!5@.!152,!09!

,+6.5;10K6,1E!09!@,22!09!".!(.-,19+0.-".;!+6,!".+,1K1,+"=,!0.-!->.0*"C!.0+(1,!54!

+6,!9+(->!54!C(2+(1,P!/01,-,9E!0!C511"-5!9K,C"02"9+!0.-!0(+651!54!FH"+6!6"9!/"9+52!".!6"9!

$0.-Ef!SUZY\T!-,4".,9!I1,0+,1!A,B"C5!09!0!C(2+(102!)51-,1!".!C5.+109+!+5!

;,5;10K6"C02!)51-,19E!45C(9".;!5.!"-,.+"+",9!+60+!451*!+6,*9,2=,9!)09,-!5.!9601,-!

C(2+(102!K10C+"C,9!0.-!*,0.".;9E!10+6,1!+60.!5.!+6,!;,5NK52"+"C02!2".,!+60+!9,K010+,9!

5.,!.0+"5.!415*!0.5+6,1P!!'.!-"9C(99".;!+6,!1,20+"5.96"K9!),+@,,.!)51-,1!0.-!

.0+"5.02"9*E!D.-,195.!099,1+9!+6,!C5.9+1(C+,-!.0+(1,!54!.0+"5.655-E!,B0*".".;!+6,!

! Z!

K599")"2"+",9!54!C1,0+".;!g"*0;".,-!C5**(."+",9h!.5!*0++,1!@6"C6!9"-,!54!0!K52"+"C02!

)51-,1!0!K01+"C(201!C5**(."+>!40229!(.-,1!SUZZUTP!!

J,22!$55M9!-,*0.-9!+6,!C,.+102"+>!54!10C,!0.-!;,.-,1!".!+6,!-"9C(99"5.!54!

(P15#$'Q*6,'`$+60+!"9E!9K0C,9!+60+!1,d,C+!+6,!)".01",9!0.-!K5@,1!-"44,1,.C,9!+60+!0!

+10-"+"5.02!-"9C(99"5.!54!9K0C,!0.-!;,5;10K6>!K15-(C,9!SUZ\WTP!!3".022>E!I251"0!

D.L02-n0h9!C0.5."C02!+,B+!-"5#,58*.#'I@*$/5".(,5*$SUZ\_T!;02=0."L,-!+6,$

+6,51"L0+"5.!54!)51-,120.-9!@"+6".!.5+!5.2>!A,B"C0.ND*,1"C0.!&+(-",9E!)(+!".!

0C0-,*"0!".!;,.,102P!D9!96,!9+0+,9E!FJ51-,19!01,!9,+!(K!+5!-,4".,!+6,!K20C,9!+60+!01,!

904,!0.-!(.904,E!+5!-"9+".;("96!&'!415*!(P,0P!D!)51-,1!"9!0!-"="-".;!2".,E!0!.0115@!

9+1"K!025.;!0!9+,,K!,-;,P!D!)51-,120.-!"9!0!=0;(,!0.-!(.-,+,1*".,-!K20C,!C1,0+,-!)>!

+6,!,*5+"5.02!1,9"-(,!54!0.!(..0+(102!)5(.-01>f!SVYTP!

!

J,>5.-!d(9+!K15="-".;!0!-"44,1,.+!2,.9!415*!@6"C6!+5!=",@!5(1!2"=,-!0.-!

C5.C,K+(02!;,5;10K6",9E!O1"+"C02!J51-,1!#6,51>!0225@9!(9!+5!C5.9"-,1!+6,!152,!54!

9K0C,!".!+6,!1,9"9+0.C,!0.-!,BK1,99"5.!54!+6,9,!)51-,19P!!&5d0h9!@51M!,9K,C"022>!

0225@9!451!.,@!-"025;(,9!5.!+6,!6"9+51"C02!0.-!+6,!95C"02E!0.-!)1".;9!(9!+5!0!.,@!

9K0+"02!C5.9C"5(9.,99E!90>".;!+60+!+6,!6"9+51"C02!0.-!+6,!95C"02!01,!C5*K5.,.+9!54!

9K0C,P!!7,+(1.".;!+5!+6,!"99(,9!54!".d(9+"C,E!6,!90>9!+60+!+6,1,!"9!0!9K0+"02!,2,*,.+!+5!

*01;".02"L0+"5.!0.-!".d(9+"C,!".!+60+!+6,>!01,!9K,C"4"C022>!*0KK,-!0.-!9K0C,-G!!

&K0C,q"9!*51,!+60.!d(9+!0!K6>9"C02!8(02"+>!54!+6,!*0+,1"02!@512-!51!0.!,99,.+"02!

K6"2595K6"C02!0++1")(+,!60=".;!0)952(+,E!1,20+"=,E!51!1,20+"5.02!-"*,.9"5.9P!!#6,9,!

K6>9"C02!0.-!K6"2595K6"C02!4,0+(1,9!54!9K0C,!60=,!-5*".0+,-!+6,!6"9+51"C02!-"9C5(19,!

5.!9K0C,!451!+6,!K09+!C,.+(1>E!,9K,C"022>!0*5.;!;,5;10K6,19P!!#6,>!1,*0".!1,2,=0.+!

! Uc!

+5!5(1!C5.+,*K5101>!(.-,19+0.-".;!54!+6,!9K0+"02"+>!54!6(*0.!2"4,E!)(+!45C(9".;!

,BC2(9"=,2>!5.!+6,*!C0.!2,0-!(9!0@0>!415*!0!C5;,.+E!0C+"=,E!0.-!C1"+"C02!

(.-,19+0.-".;!54!6(*0.!;,5;10K6",9f!S=,,21.;$=Q*(1*8$^&'(16,O$UYT!

!

H60+!"9!;1,0+2>!0KK2"C0)2,!+5!*>!K15d,C+!"9!65@!+6,!".+"*0+,!,BK,1",.C,!+60+!

K,5K2,!S;"129T!60=,!@"+6!+6,"1!;,5;10K6",9E!451*!+6,"1!0.-!5(1!+,22".;!54!5(1!2"4,!

6"9+51>P!!&5d0!9K,0M9!+5!+6,!".42(,.C,!54!;,5;10K6>!".!+6,!@0>!@,!*0M,!9,.9,!54!5(1!

2"=,9G!

D2+65(;6!95*,!*0>!+6".M!+6"9!+5!),!+55!5)="5(9!+5!*,.+"5.E!+6,!9K0+"02"+>!54!6(*0.!

2"4,!*(9+!),!".+,1K1,+,-!0.-!(.-,19+55-!09!4(.-0*,.+022>E!415*!+6,!9+01+E!0!C5*K2,B!

95C"02!K15-(C+E!0!C522,C+"=,2>!C1,0+,-!0.-!K(1K59,4(2!C5.4";(10+"5.!0.-!95C"02"L0+"5.!

54!9K0C,!+60+!-,4".,-!5(1!C5.+,B+(02!60)"+0+E!+6,!6(*0.!0.-!6(*0."L,-!;,5;10K6>!

".!@6"C6!@,!022!2"=,!5(+!5(1!2"=,9P!!&(C6!95C"02"L,-!2"=,-!9K0C,E!C5.9+1(C+,-!5(+!54!

K6>9"C02!0.-!.0+(102!9K0+"02!451*9E!*,.+022>!0.-!*0+,1"022>!".+,1+@".,9!@"+6!5(1!

95C"02"L,-!2"=,-!+"*,9!+5!C1,0+,!5(1!)"5;10K6",9!0.-!;,5N6"9+51",9!S=,,21.;$=Q*(1*8$

^&'(16,O$U_NU\T!

#6"9!C"+0+"5.!9K,0M9!+5!+6,!C1,0+"=,!0.-!C5.C,K+(02!451C,9!+60+!960K,!5(1!9+51",9R!0.-!

*0M,9!+6,!K5".+!+60+!+6,!9+51",9!@,!.0110+,!0)5(+!5(1!2"=,9!0295!1,=,02!K01+"C(201!

9+51",9!0)5(+!9K0C,P!

!

A(C6!2"M,!J,22!$55M9!0.-!I251"0!D.L02-n0E!&5d0!,BK20".9!C1"+"C02!)51-,1!

+6,51>!.5+!5.2>!09!0!.,@!@0>!+5!(.-,19+0.-!+6,!@512-E!)(+!0295!09!0!*,0.9!54!

9,,M".;!d(9+"C,!)>!0.-!".!*01;".02"L,-!C5**(."+",9G!!!

! UU!

#6,!*0".!"*K,+(9!451!+6"9!1,9(1;,.C,!0.-!-"44(9"5.!54!9K0+"02!+6".M".;!0.-!9K0+"02!

+6,51>!C0*,!"."+"022>!415*!C1"+"C02!6(*0.!;,5;10K6,19!)(+!609!),,.!C011",-!451@01-!

".!1,C,.+!>,019!)>!9C652019!415*!*0.>!-"44,1,.+!-"9C"K2".,9E!10.;".;!415*!

01C60,525;>E!01+E!0.-!0.+615K525;>!+5!20@E!+6,525;>E!0.-!,C5.5*"C9P!!H6"2,!+6,!

K1"="2,;".;!54!+6,!6"9+51"C02!0.-!+6,!95C"02!9+"22!K,19"9+9E!K,160K9!.,=,1!),451,!".!+6,!

K09+!UYc!>,019!609!0!C1"+"C02!9K0+"02!K,19K,C+"=,!),,.!95!@"-,9K1,0-!0.-!".42(,.+"02f!

S=,,21.;$=Q*(1*8$^&'(16,O$UWTP!!!

'.!+6"9!@0>E!255M".;!0+!+6".;9!415*!0!C1"+"C02!9K0+"02!K,19K,C+"=,!0295!),;".9!+5!

1,-,4".,!0.-!1,="=,!95C"02!d(9+"C,!09!0.!"*K51+0.+!K01+P!

!

3,*"."9+9!60=,!+0M,.!)51-,1!+6,51>!+5!0.!,=,.!-,,K,1!0.-!*51,!10-"C02!2,=,2P!!

H60+!0!4,*"."9+!0KK150C6!+5!)51-,1!+6,51>!-5,9!"9!F1,25C0+,!(9!.5+!".!+6,!K09+!51!".!

+6,!+0C"+2>!)("2+!,.="15.*,.+!54!+6,!C"+>E!)(+!".!+6,!*01;".02"+>!0.-!5=,120KK".;!

K9>C6525;"C02E!95C"02E!0.-!C(2+(102!)51-,120.-9!54!C5.+,*K5101>!81+,#!9K0C,9f!S<P15#$

=Q*6,O$UTP!

!

7,N="9"+".;!+6,!@51M9!54!I251"0!D.L02-n0!0.-!,9K,C"022>!+6,!4"C+"5.!54!l510!

?,02!$(19+5.!;"=,9!(9!0.!,=,.!-,,K,1!(.-,19+0.-".;!54!+6,!4,*".".,!,BK,1",.C,!54!

)51-,19!0.-!9K0C,E!),C0(9,!+6,>!1,=,02!0.-!42,96!5(+!.5+!5.2>!0!.,@!0KK150C6!+5!

C5.9+0.+2>!96"4+".;!0.-!"*K59".;!)51-,19E!)(+!+6,!*5=,*,.+!),+@,,.!+6,*P!!'+!"9!

+6"9!*5=,*,.+E!+6"9!C1599".;!+60+!"9!*59+!0KK2"C0)2,!+5!*>!@51MP!!'+!"9!+6,!C1599".;!54!

+6,9,!)51-,19!+60+!C0229!".+5!8(,9+"5.!.,@!;,5;10K6",9E!.,@!@512-9E!.,@!9"+,9!54!

2"),10+"5.!.5+!5.2>!".!+6,!C5.+,B+!54!".-";,.5(9!Q0+".!D*,1"C0E!)(+!".!1,=,02".;!+6,!

(."=,1902!4,*"."."+>!54!+6,!@512-P!!!

! UV!

!

'!+(1.!+5!D.L02-n0E!@65!K5";.0.+2>!8(,9+"5.9!.5+!5.2>!+6,!)51-,19!+60+!96,!

C0.!9,,!".!+6,"1!*0."4,9+0+"5.!54!4,.C,!0.-!)01)@"1,!-"="-".;!.0+"5.9!0.-!K,5K2,E!

)(+!0295!".!65@!+659,!)51-,19!*0."4,9+!".9"-,!54!6,1!SUZ\_TP!

!

'!@0.+!+5!C201"4>!+60+!),>5.-!),".;!".451*,-!)>!+6,9,!+6,51"9+9h!0.-!@1"+,19h!

42,96".;!54!+6,!*0".+,.0.C,E!-"="-".;E!1,9"9+".;!0.-!C1599".;!54!+6,9,!)51-,19E!'!

*5-,2,-!*>!0KK150C6!".!+6"9!+6,9"9!5.!l510!?,02!$(19+5.h9!4,*02,!C6010C+,19E!022!54!

@65*!9601,!+6,!90*,!,BK,1",.C,!54!*>!;"129!54!9+(->E!".!+60+!+6,>!2,0=,!65*,!0+!0!

>5(.;!C1(C"02!0;,!0.-!(.-,1;5!=01"5(9!451*9!54!+10.9451*0+"5.E!0.-!4".022>E!+6,!

C2"*0BE!".!)5+6!$(19+5.h9!4,*02,!C6010C+,19h!d5(1.,>9!0.-!+6,9,!;"129h!9+51",9E!5CC(1!

0+!+6,!*5*,.+!54!@6,+6,1!+5!1,+(1.!65*,!51!.5+E!0.-!"*0;".".;!+6,*9,2=,9!+5!),!

+10.9451*,-!@5*,.!(K5.!1,+(1.P!!!

!

Q"M,!+6,!;"129!54!+6,!C5.=,.+E!@60+!"9!0+!8(,9+"5.9!451!$(19+5.h9!4,*02,!

C6010C+,19!"9!"-,.+"+>!0.-!4,*"."9+!C5*".;!54!0;,R!"+!),C5*,9!+60+!@6"C6!".451*9!+6,!

+,22".;!54!+6,"1!2"4,!6"9+51",9E!0.-!+6,!,.="9"5.".;!54!+6,"1!4(+(1,9P!!]0.",E!$(19+5.h9!

*59+!40*5(9!C6010C+,1!".!F#6,"1!%>,9!H,1,!H0+C6".;!I5-f!1,+(1.9!65*,!04+,1!0!

25.;!d5(1.,>P!!&6,!+,229!6,1!41",.-E!FA51,!+60.!>5(1!2"4,N652-".;!@5*)!0.-!>5(1!2"4,N

;"=".;!K1"=0+,!K01+9q25=,!>5(1!6,01+P!!351!+6"9!"9!+6,!K1"L,f!P!!H6,.!6,1!41",.-!

/65,),!),;9!6,1!+5!9601,!6,1!.,@!9+51",9!0.-!".9";6+9E!]0.",!9(*9!(K!6,1!d5(1.,>!

@"+6!90>".;!+60+!96,!45(.-!0.-!0C6",=,-!F+60+!52-,9+!6(*0.!25.;".;N9,24!1,=,20+"5.f!

SUZX_TP!!!

! UX!

!

H6,1,09!&5d0!6,2K9!*,!C5.9"-,1!9K0C,!0.-!;,5;10K6>!".!.,@!0.-!C1"+"C02!

@0>9!0.-!K15="-,9!0!+6,51,+"C02!45(.-0+"5.!451!@6"C6!+5!K20C,!+6,!@1"+".;!+60+!+6,9,!

;"129!K15-(C,-E!D.L02-n0!0.-!$(19+5.!9K,0M!+5!@60+!"9!0+!6,01+!54!+6,"1!@1"+".;G!

@60+!"9!K15-(C,-!0.-!@65!-5!@,!),C5*,!@6,.!@,!65"''!+659,!)51-,19N!)5+6!

2"+,101"2>!0.-!K6>9"C022>i!

!

.A@H?@!:@A==CDM=!

!

D2+65(;6!'!0*!-,,K2>!".42(,.C,-!)>!O1"+"C02!J51-,1!#6,51>!0.-!+6,!"-,09!'!

-,9C1"),!0)5=,E!".!+6"9!+6,9"9!'!45C(9!9K,C"4"C022>!5.!+6,!)51-,1!C1599".;9E!.,;5+"0+"5.!

54!)51-,120.-9!0.-!*5=,*,.+9!),+@,,.!9K0C,9!,BK,1",.C,-!)>!+6,!9"B+,,.!;"129!

@659,!@51M!'!K1,9,.+!6,1,P!!#6,"1!@51M!"9!*>!*0".!1,4,1,.C,!K5".+P!!'!-5!.5+!255M!0+!

65@!+6,"1!@51M9!4"+9!".+5!+6,!+6,51,+"C02!410*,@51M!'!*,.+"5.,-!0)5=,R!)(+!10+6,1E!

65@!+6,"1!@51M!1,=,029!0!.,@!,BK1,99"5.!54!)51-,120.-9P!!A>!410*,@51M!"9!),++,1!

45(.-!".!+6,!".+"*0C>!54!+6,9,!;"129h!,BK,1",.C,9P!!#6,!9K0C,!'!-,02!@"+6!"9!65*,E!

+10=,2!15(+,9E!0.-!C5.=,.+R!0.-!+6,!)51-,120.-9!+60+!,B"9+!@"+6".!+60+!9K,C"4"C!

+10d,C+51>P!!

315*!1,"*0;".".;!0.-!1,N@1"+".;!9+51",9!0.-!*,*51",9!54!+6,"1!25.;!

-,K01+,-!65*,+5@.9E!1,N@1"+".;!9*022N+5@.!6"9+51",9R!415*!,BK251".;!+6,!C(2+(102!

)51-,19!,BK,1",.C,-!".!+6,!2,0=".;!54!+10-"+"5.02!="220;,!2"4,!+5!201;,!+5@.!K51+10"+!

*0M".;!54!*(2+"K2,!"-,.+"+",9!+60+!965@!+60+!"-,.+"+",9!C0.!),!*0.>E!0.-!451*!)>!

,BK,1",.C,!10+6,1!+60.!5.!+6,!;,5NK52"+"C02!2".,9!+60+!9,K010+,9!5.,!.0+"5.!415*!

! UW!

0.5+6,1R!415*!.0110+".;!="52,.+!K52"+"C02!C5.42"C+!),+@,,.!".-";,.5(9!K52"+"C02!

51;0."L0+"5.9!0.-!/,1(="0.!*"2"+01>!5=,1!20.-!+60+!451C,-!+6,*!+5!2,0=,!+6,!C5.=,.+!

451!0!*5.+6E!415*!,BK251".;!@60+!65*,!0.-!"-,.+"+>!*,0.!+5!".-";,.5(9!;"129!".!0!

)51-,1N".451*,-!K010-";*!54!0!Q0+".!D*,1"C0!+60+!@5(2-!10+6,1!.,0+2>!K20C,!+6,*!

".!5.,!K20C,!415*!,BK251".;!+6,!)51-,120.-!+6,>!,BK,1",.C,!),+@,,.!;"12655-!0.-!

@5*0.655-E!0.-!"*0;".".;!0!4(+(1,!@5*0.655-!41,,!54!C5.9+10".".;!K0++,19!;"129!

01,!,BK,C+,-!+5!2"=,!5(+E!0.-!4(22!54!25=,E!+10=,2!0.-!9,24N1,=,20+"5.!S@6"C6!+6,>!022!

,BK1,99!+6,!-,9"1,!+5!60=,TR!415*!022!54!+6,9,E!+6,"1!@1"+".;!+0M,9!(9!0.-!+6,*!

+615(;6!2"++2,!M.5@.!)51-,120.-9!".!Q0+".!D*,1"C0.!0.-!4,*"."9+!,BK,1",.C,P!

!

J,C0(9,!+6,!C5.=,.+!"9!0.!".6,1,.+2>!4,*".".,!9K0C,E!"+!0225@9!*,!+5!099(*,!

+6,!4,*"."."+>!54!+6,"1!@51M!0.-!+6,!45C(9!'!K1,9,.+P!!#6,!;,5;10K6>!0.-!)51-,19!

,BK1,99,-!".!+6,"1!@1"+".;!1,=,02!+6,!C5.=,.+!+5!),!)5+6!0!K20C,!54!C1599".;E!0.-!+6,!

9"+,!54!"-,.+"+>!451*0+"5.E!0225@".;!*,!+5!(9,!+6"9!K,19K,C+"=,!415*!@6"C6!+5!=",@!

+6,"1!9K0C,P!!#6,>!C1599!;,5;10K6"C!)51-,19!S1"=,19E!+5@.9E!1(102!+5!(1)0.E!65*,!+5!

C5.=,.+T!)(+!".!+6,!K15C,99E!0!M,>!0.-!C1"+"C02!+10.9"+"5.!0.-!+10.9451*0+"5.!5CC(19!

)5+6!-"9C(19"=,2>!0.-!".!1,02"+>G!+60+!415*!;"12655-!+5!@5*0.655-P!!O1599".;!

)51-,19E!451!+6,*E!4(.C+"5.!09!*51,!+60.!+6,!C1599".;!54!;,5;10K6"C!0.-!K6>9"C02!

9K0C,9E!)(+!0295!09!9"+,9!54!"-,.+"+>!451*".;!0.-!@5*0.N-,4".".;P!!'!255M!9K,C"4"C022>!

0+!+6,!*5=,*,.+!),+@,,.!9K0C,9!0.-!.,;5+"0+"5.!54!+6,"1!)51-,120.-9!".!+6,"1!

@1"+".;P!!#6,9,!01,!+6,!)51-,1!C1599".;9!'!4".-!".!+6,"1!@1"+".;G!

!

! UY!

G&5*8$'Q*6,$("$&5?*.$'Q*6,U!%0C6!;"12!609!2,4+!0!1(102!65*,!="220;,9!+5!+10=,2!+5!0!

C5**,1C"02!4"96".;!+5@.!Se(1"*0;(09T!@6,1,!96,!2"=,9!0.-!;5,9!+5!9C6552!451!0.!

(.-,+,1*".,-!0*5(.+!54!+"*,!@"+6!101,!="9"+9!)0CM!65*,P!

!

)"0,$("$1.'(1(&(1".N#6,!;"129!2,0=,!40*"2>!2"4,!0.-!+6,"1!65*,!9"+(0+"5.9!+5!2"=,!".!0!

C5.=,.+!@6,1,!+6,>!2"=,!C522,C+"=,2>!".!0!9*022E!9601,-!9K0C,!@"+6!5+6,1!;"129!0.-!

.(.9!

!

H.#1;,."&'$("$0,'(1M"_$#6,>!2,0=,!+10-"+"5.022>N1(.!0.-!,+6."C022>!".-";,.5(9!

65*,+5@.9!0.-!C5**(."+",9!+5!e(1"*0;(09E!0.!".-";,.5(9p*,9+"L5!(1)0."L,-!

4"96".;!K51+E!C1,0+".;!+6,!*0".!-"44,1,.C,!),+@,,.!+6,*!0.-!+6,!;"129!+6,>!;5!+5!

9C6552!@"+6P!!#6,>!,BK,1",.C,!),".;!*0-,!4(.!54!,9K,C"022>!)>!+6,"1!+,0C6,19!0.-!

9C6552*0+,9!@65!60=,!;15@.!(K!".!0!*51,!(1)0."L,-!9,++".;P!

!

H.#1;,."&'$8*.;&*;,$("$=Q*.1'PN!#6,!;"129h!4"19+!20.;(0;,!"9!+6,"1!".-";,.5(9!

20.;(0;,R!)(+!@6,.!+6,>!011"=,!+5!+6,!O5.=,.+!0.-!+5!e(1"*0;(09!+6,>!*(9+!9@"+C6!

+5!&K0."96!451!+@5!1,095.9G!4"19+E!"+!"9!+6,!K1,-5*".0.+!20.;(0;,!54!+6,!O"+>!0.-!+6,!

9C6552!0.-!9,C5.-E!),C0(9,!,0C6!;"12!9K,0M9!0!-"44,1,.+!".-";,.5(9!20.;(0;,!95!

&K0."96!),C5*,9!+6,!5.2>!@0>!+5!C5**(."C0+,P$$

!

!158'$*.#$.&.'N!A59+!54!+6,!.(.9!4"19+!011"=,-!0+!+6"9!C5.=,.+!451!+6,!90*,!1,095.!+60+!

+6,!;"129!011"=,!6,1,P!!D2*59+!022!54!+6,!.(.9!@,1,!4"19+!;"129!65(9,-!".!+6"9!C5.=,.+!

+60+!60-!2,4+!+6,"1!65*,9E!;1,@!(K!".!+6,!C5.=,.+E!0.-!20+,1!-,C"-,-!+5!),C5*,!.(.9P!

! U^!

#6,!;"129!0.-!.(.9!01,!9,K010+,-!)>!0!+6".!@022!+60+!9,K010+,9!+6,!C25"9+,1,-!0.-!

.5.NC25"9+,1,-!K01+9!54!+6,!C5.=,.+P!

!

X"&.;$\"0*.P""#$("$T#&8($\"0*.P""#N!'!4".-!+6"9!+5!),!+6,!*59+!".+,1,9+".;!

)51-,120.-!0.-!"+!"9!1,C(11,.+!".!+6,"1!@1"+".;P!!%0C6!54!+6,9,!;"129!011"=,9!+5!+6,!

C5.=,.+!0+!0!=,1>!>5(.;!0;,!0.-!+615(;65(+!+6,"1!2"=,9!".!+6,!C5.=,.+E!9+10--2,9!0!

)51-,120.-!),+@,,.!>5(.;!@5*0.655-!0.-!0-(2+!@5*0.655-E!-,4".".;!0.-!

1,-,4".".;!+6,"1!+10.9"+"5.!".+5!4,*02,!*0+(1"+>P!

!

[.,!54!+6,!)51-,1!C1599".;9!'!45C(9!5.!+6,!*59+!"9!+6,!)51-,1!),+@,,.!>5(.;!

@5*0.655-!0.-!0-(2+!@5*0.655-P!!#6"9!5.,!"9!K01+"C(2012>!*0."4,9+,-!".!=,1>!

".+,1,9+".;!@0>9E!),C0(9,!+6,"1!-,4"."+"5.9!54!@60+!M,,K9!+6,*!;"129!0.-!@60+!*0M,9!

+6,*!@5*,.!"9!+0M,.!-"1,C+2>!415*!+6,"1!2"4,!,BK,1",.C,9P!![1";".022>E!'!K20..,-!+5!

45C(9!C5*K2,+,2>!5.!+6,!@0>!>5(.;!@5*,.!,BK1,99!+6"9!)51-,1E!)(+!@60+!'!45(.-!

@09!+60+!+6"9!;"12655-p@5*0.655-!)51-,1!9K0C,!"9!45(.-!".!95!*0.>!451*9!0.-!

".451*9!95!*0.>!5+6,1!)51-,19!+6,>!,BK1,99P!!'!;5!".+5!;1,0+!-,+0"2!20+,1!".!+6"9!

+6,9"9E!)(+!+5!;"=,!0!)1",4!,B0*K2,!54!@60+!'!*,0.!)>!+6"9!"9!0.!0C+"="+>!@6,1,!'!09M,-!

+6,*!+5!*0M,!0!C601+!@"+6!+@5!C52(*.9!@6,1,!+6,>!60-!+5!*0M,!0!2"9+!54!+6,!+6".;9!

+60+!*0-,!+6,*!;"129!0.-!+6,!+6".;9!+60+!*0-,!+6,*!@5*,.P!!!

!

A0.>!54!+6,!;"129!@15+,!+60+!),".;!0!@5*0.!*,0.+!+10=,22".;!401!-"9+0.C,9P!!

#6"9!"9!.,"+6,1!+10-"+"5.022>N".451*,-!.51!*5-,1.NC"+>!".451*,-P!!70+6,1E!"+!"9!

".451*,-!)>!+6,"1!5@.!2"=,9!0.-!)>!+6,"1!5@.!,BK,1",.C,!54!C1599".;!)51-,19P!![.!

! U_!

+6,!5+6,1!60.-E!*0.>!,BK1,99,-!+60+!@60+!*0-,!"+!5)="5(9!+5!+6,*!+60+!+6,>!@,1,!

9+"22!;"129!@09!+60+!95*,+"*,9!+6,>!*"99!+6,"1!K01,.+9P!!#6"9!965@9!+60+!+6,"1!9,.9,!54!

)(--".;!@5*0.655-!"9!".451*,-!)>!+6,"1!2"4,!,BK,1",.C,9!54!+6,!*(2+"K2,!)51-,19!

+6,>!C1599P!!#6,"1!@5*0.655-!"9!.5+!d(9+!@60+!+6,>!+6".M!54!+6,*9,2=,9!09!@5*,.E!

)(+!@60+!+6,>!+6".M!54!+6,"1!2"4,!415*!+6,!9K0C,!54!+6,"1!+10.9"+"5.!".+5!@5*0.655-P!!

!

'!@0.+!+5!C201"4>!+60+!'!60=,!,BK20".,-!+6,!0)5=,!)51-,1!C1599".;9!".!+6,!90*,!

51-,1!09!+6,>!0KK,01!".!+6,!C60K+,19P!'!60=,!51;0."L,-!+6,!C60K+,19!95!+60+!,0C6!

C60K+,1!"9!0.!0C+"="+>!+60+!,BK1,99,9!0!K01+"C(201!)51-,120.-N!;5".;!415*!0!)150-,1!

;,5;10K6"C02!)51-,1!C1599".;E!+5!0.!"..,1!C1599".;!".+5!@5*0.655-P!!!

!

&?>NAHAOAMI!

!

'!,BK251,!022!54!+6,9,!;,5;10K6"C!0.-!C5.C,K+(02!)51-,120.-9!+615(;6!+6,"1!

@1"+".;E!@6"C6!+6,>!K15-(C,-!415*!C1,0+"=,!@1"+".;E!*0KN*0M".;!0.-!4"C+"5.N@1"+".;!

0C+"="+",9!'!C1,0+,-!+60+!+5(C6!5.!+6,!+5K"C9!54!*,*51>E!+10=,2E!C5*".;!54!0;,!0.-!

@5*0.655-P!#6,!45(1+,,.!0C+"="+",9!@6"C6!'!".C2(-,!".!+6"9!K15d,C+!@,1,!C5.9+1(C+,-!

)>!*,E!0.-!95*,!54!@6"C6!@,1,!0-0K+,-!415*!)"2".;(02!F.,";6)51655-!K5,+1>f!

@51M965K9!'!C1,0+,-!0.-!10.!415*!Vcc_NVcc\!".!J02+"*51,!O"+>!@"+6!0!;15(K!54!

*"--2,N9C6552!0;,-!;"129!".!0!*59+2>!"**";10.+!0.-!1,4(;,,!.,";6)51655-P!!'!

0-0K+,-!+6,9,!+5!&K0."96E!09!@,22!09!+5!+6,!K01+"C(201!,BK,1",.C,9!54!+6,!;"129!".!+6,!

$5;01P!!!D2+65(;6!+6,!+6,*,9!0.-!-,K+6!54!@60+!+6,!;"129!54!+6,!$5;01!K15-(C,-!@09!

.5+!K20..,-E!+6,>!,*,1;,-!415*!0C+"="+",9!+60+!@,1,!*,0.+!+5!-10@.!".@01-!".+5!

! U\!

65@!+6,9,!;"129!".+,1.02"L,!+6,"1!,BK,1",.C,9E!10+6,1!+60.!K15="-".;!K52"+"C02!51!

6"9+51"C02!C5**,.+01>!5.!0!K01+"C(201!K20C,P!!'.!+6"9!@0>E!+6,!K5,*9!0.-!.0110+"=,9!

+60+!9K,0M!+5!+6,"1!,BK,1",.C,9!@"+6!+10=,2E!C1599".;!201;,!;,5;10K6"C!-"9+0.C,9E!0.-!

),".;!(K155+,-!415*!+6,"1!40*"2",9!+5!2"=,!".!+6,!C5**(.02!9,++".;!54!+6,!C5.=,.+!

"22"C"+!-"9+".C+!0.-!*,0.".;4(2!.0110+"=,9!415*!,0C6E!),C0(9,!'!@51-,-!+6,!0C+"="+>!".!

0!@0>!+60+!@5(2-!0225@!+6,!;"129!+5!45C(9!5.!+6,"1!5@.!".+"*0+,!,BK,1",.C,!@"+6!,0C6!

+6,*,P!

! J,>5.-!d(9+!+6,!0C+"="+",9!'!C1,0+,-!S@6"C6!'!2"9+!".!-,+0"2!),25@TE!+6,1,!@09!

0295!0!.";6+2>!K,1451*0.C,!09K,C+!+5!+6,!@1"+".;!@51M965KE!40C"2"+0+,-!)>!+6,!40C+!

+60+!+@5!@,,M9!04+,1!'!011"=,-!".!e(1"*0;(09E!022!9C65529!".!+6,!+5@.!54!e(1"*0;(09!

@,1,!5.!9+1"M,E!0!9+1"M,!@6"C6!209+,-!+"22!+6,!+"*,!'!2,4+E!+@5!0.-!0!6024!*5.+69!20+,1P!!

#6"9!C022,-!451!*51,!@1"+".;!0C+"="+",9E!0.-!*51,!+"*,!+5!K,1451*!+6,!@51MP!!#6,!;"129!

1,8(,9+,-!+60+!04+,1!-"..,1!,0C6!.";6+!+60+!+6,>!K,1451*!+6,!K5,*9!+6,>!60-!@1"++,.!

45225@,-!)>!0!-0.C,!K01+>P!!#6,>!0295!1,8(,9+,-!+5!60=,!K5KC51.E!C6"K9E!0.-!H.2*$

9"8*P!!#6,!.(.9!,BK1,99,-!C5.C,1.!+60+!+6,>!@5(2-!),!;5".;!+5!92,,K!+55!20+,E!)(+!+6,!

;"129!1,*".-,-!+6,*!+60+!+6,"1!9C6552!@09!5.!9+1"M,!".-,4"."+,2>P!!#6(9E!,=,1>!.";6+!

015(.-!_GXc!04+,1!-"..,1E!@,!@5(2-!022!C2,0.!+6,!-"96,9E!9@,,K!+6,!42551E!0.-!*5=,!

+6,!+0)2,9!+5!+6,!,-;,9!54!+6,!155*E!0.-!)1".;!".!+6,!)55*!)5BP!!%0C6!;"12!@5(2-!+0M,!

+(1.9!1,0-".;!6,1!@51ME!0.-!04+,1!+6,!209+!;"12!K,1451*,-E!+6,1,!@5(2-!),!-0.C".;P!!

!'.!022!54!+6,"1!@51M9E!@60+!"9!02@0>9!K1,9,.+!"9!95*,!951+!54!1,4,1,.C,!+5!0.!

51";".02!65*,E!0.!,K"C!d5(1.,>!0.-!+5!0!K20C,!9>*)52"C!54!+6,!C5.=,.+!S@"+6!9"*"201!

C6010C+,1"9+"C9!;"=,.!+5!+6,!9>*)52"9*!54!+6,!C5.=,.+TP!'.!*>!,BK2510+"5.!54!65@!

+6,"1!@51M!C(2*".0+,9!".+5!0!9,24N1,=,20+"5.!".+5!+6,"1!5@.!9,.9,!54!@5*0.655-!0.-!

! UZ!

+10.9"+"5.!415*!;"12655-E!+6,!8(,9+"5.!'!,BK251,!"9G!@60+!"9!+6,!*,0.".;!54!P"0,E!(P,$

K"&5.,BE!0.-!(P,$6".+,.(E!09!*,+0K6519!".!+6,!.0110+"=,!C5.9+1(C+"5.9!54!"-,.+"+>!0.-!

;"12655-i!

!

'.!+6,!K0;,9!+60+!45225@E!'!0*!4"19+!;5".;!+5!;"=,!0.!,+6.5;10K6>!54!*>!

C5**(."+>!54!9+(->P!!D4+,1!+6,!"."+"02!,+6.5;10K6>!C60K+,1E!,=,1>!C60K+,1!"9!

-,-"C0+,-!+5!0!9K,C"4"C!@1"+".;!0C+"="+>P!!'!51-,1!+6,!C60K+,19!".!0!9K,C"4"C!@0>G!,0C6!

0--1,99!5.,!54!+6,!)51-,120.-9!'!2"9+!0)5=,P!!%0C6!C60K+,1!"9!9+1(C+(1,-!".!0!9"*"201!

@0>G!4"19+!'!.0*,!0.-!-,9C1"),!+6,!0C+"="+>P!!#6,.!'!K1,9,.+!90*K2,9!415*!+6,"1!@51ME!

0.-!20+,1!'!0.02>L,!+6,!+>K,!54!)51-,1!C1599".;!1,=,02,-!".!+6,"1!@1"+".;P!

#6,!45225@".;!"9!0!2"9+!54!+6,!0C+"="+",9!0.-!C60K+,19G!

$

9P*5($"[$T6(1+1(1,'$

O60K+,1!V!

%1$4"#,5$,'$)*6,5$7"8*5$

9*'*':$

O522,C+"=,!*0K!415*!

$5*,!+5!)";*5$

!

D!*0K!C522,C+"=,2>!-10@.!@"+65(+!0.>!1,4,1,.C,!+5!

,B"9+".;!*0K9!54!,0C6!;"12h9!65*,!="220;,!0.-!+10=,2!15(+,!

415*!65*,!+5!C5.=,.+E!".C2(-".;!1"=,19!0.-!="220;,9!

K099,-!025.;!+6,!@0>P!

!!!!!!!!!!!!!!O60K+,1!X!

<&$'18,.61"$,'(*$6"0"$'1$

,8$J5?"8$."$',$0"+1,5*:$

D.!5-,!+5!,0C6!;"129!65*,!+5@.E!(9".;!+@5!@51-9!".!+6,"1!

".-";,.5(9!20.;(0;,E!5.,!*,+0K651E!5.,!9"*"2,E!0.-!5.,!

1,4,1,.C,!+5!0!K6>9"C02!9K0C,!

! Vc!

D.![-,!+5!+6,!

65*,+5@.!'!2,4+!),6".-!

!

!!!!!!!!!!O60K+,1!W!

9"0"$@8,;&A$*8$

9".+,.("G!9,.951>!

K5,*9!5.!+10=,2!

D!K5,*!-,9C1")".;!+6,!+1"K!415*!65*,!+5!C5.=,.+E!

45C(9".;!5.!+6,!9,.951>!,BK,1",.C,9!54!+60+!d5(1.,>!

!!!!!!!!!!O60K+,1!Y!

)"B$C*61D$E.*$C1F*$

),50"'*$B$G,?,8#,a:$

?0110+"=,9!54!

#10.9451*0+"5.!

!

?0110+"=,9!0)5(+!0!+10.9451*0+"5.!,BK,1",.C,-!)>!,0C6!

;"129E!@1"++,.!415*!0!4"C+"5.N2"M,!+6"1-!=5"C,!

!!!!!!!!!!O60K+,1!^!

O(,.+59!-,!20!$(,2;0!

D!.0110+"=,!0.-!-10@".;!0)5(+!+6,!C5.42"C+!),+@,,.!

/,1(="0.!*"2"+01>!0.-!".-";,.5(9!K15+,9+,19!@6"C6!

C0(9,-!+6,!;"129!+5!2,0=,!+6,!C5.=,.+!

!!!!!!!!!!O60K+,1!_!

A>+6".;!*>!2"4,G!

".=,.+,-!*>+69!0.-!

2,;,.-9!@"+6!4,*02,!

K15+0;5."9+9!

D.!".=,.+,-!*>+6!51!2,;,.-!@6,1,!,0C6!;"12!60-!+5!

K51+10>!6,19,24!09!+6,!*0".!C6010C+,1!0.-!".C2(-,!0!*5102!

0+!+6,!,.-!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!U!D.+5.",+0E!UW!

! VU!

!!!!!!!!!!O60K+,1!\!

A,.9+1(0+"5.!

?0110+"=,9!0.-!5+6,1!

9C6552!.0110+"=,9!

?0110+"=,9!0)5(+!*,.9+1(0+".;!".!+6,!C5.=,.+!51!5.!0!

1,+(1.!="9"+!65*,P!!&5*,!;"129!4"19+!;5+!+6,"1!K,1"5-9!".!

9C6552E!2,0-".;!+5!5+6,1!.0110+"=,9!0)5(+!,*)011099".;!

*5*,.+9!".!0!.,@!9C6552!9,++".;!

!!!!!!!!!!O60K+,1!Z!

A"!&,C1,+5!/154(.-5!

/51+10"+9!0.-!.0110+"=,9!0)5(+!M,,K".;!9,C1,+9!".!+6,!

C5.=,.+!

!!!!!!!!!O60K+,1!Uc!

="B$%&K,5O$="B$4,5&*.*O$

B$88,+"$01$P,50"'"$

Q&,?8"$#,.(5"$#,$01:!

/5,*9!0.-!/51+10"+9!54!

'-,.+"+>!

!

D.!,BK2510+"5.!54!-(02!0.-!*(2+"K2,!"-,.+"+",9!+615(;6!

K5,+1>!0.-!K51+10"+N*0M".;!

!!!!!!!!O60K+,1!UU!

S&,$?,88"$,'$6"."6,5$

6"0"$'"B$B"$01'0*:$A,!

*"15!0!+10=m9!-,2!,9K,d5$

/5,*9!0)5(+!@60+!;"129!+6".M!+6,>!255M!2"M,!.5@E!0.-!

@60+!+6,>!@"22!255M!2"M,!".!4"=,!>,019!

!!!!!!!!O60K+,1!UV!

%1$6&,5Q"$,'$&.*$

0*5*+188*:$[-,!+5!Q5=,-!

0.-!$0+,-!)5->!K01+9!

!

%0C6!;"129!@15+,!0.!5-,!+5!6,1!40=51"+,!)5->!K01+E!0.-!6,1!

2,09+!40=51"+,!)5->!K01+!

! VV!

!!!!!!!!!O60K+,1!UX!

="B$8*$@8&+1"'*O$="B$8*$

9*8&5"'*:!%BK251".;!

@5*0.655-!+615(;6!

K5,*9!+60+!),;".!@"+6!

Fe5!&5>f!

!

/5,*9!+60+!),;".!@"+6!Fe5!&5>f!

!!!!!!O60K+,1!UW!

/010!&,1!A(d,1!

/5,*9!),;"..".;!@"+6!F/010!&,1!A(d,1f!+60+!,BK251,!

;,.,102!-,4"."+"5.9!54!@5*0.655-!

!!!O60K+,1!UYG!!

3(22!H5*,.E!

S&,51#*$X"G!Q,++,19!+5!

*>9,24!415*!0!4(+(1,!

0;,E!0.-!O5.C2(9"5.9!

#6,!;"129!60-!+5!K1,+,.-!+6,>!@,1,!+,.!>,019!52-,1!+60.!

+6,>!01,!.5@P!!315*!+60+!52-,1!K,19K,C+"=,E!+6,>!@15+,!0!

2,++,1!+5!+6,*9,2=,9!1,=,02".;!@60+!+6,>!-"-!0.-!@65!

+6,>!),C0*,!

!

!

3".022>E!'!K1,9,.+!0!C5.C2(9"5.!@6,1,!'!".C2(-,!+6,!=,1>!209+!0C+"="+>!)>!+6,!

;"129!),451,!'!2,4+!+6,!C5.=,.+G!0!2,++,1!@6,1,!,0C6!;"12!60-!+5!"*0;".,!6,19,24!+,.!

>,019!52-,1!+60.!96,!"9!.5@E!0.-!415*!+60+!K,19K,C+"=,E!+5!@1"+,!0!2,++,1!+5!6,19,24!0+!

6,1!K1,9,.+!0;,E!1,=,02".;!@65!96,!609!),C5*,!0.-!@60+!96,!609!-5.,P!!'!90=,!+6"9!

209+!2,++,1!099";.*,.+!451!+6,!C5.C2(9"5.!),C0(9,!"+!1,=,029!+6,"1!;5029E!+6,"1!-1,0*9!

0.-!+6,!@0>!+6,>!"*0;".,!+6,"1!4(+(1,P!!H6,1,09!+6,!5+6,1!0C+"="+",9!,BK251,!+6,!@0>!

+6,>!C1599,-!51!"*0;".,-!C1599".;!)51-,19!415*!+6,"1!K09+E!+6"9!0C+"="+",9!1,=,029!+6,!

! VX!

@0>!+60+!+6,>!"*0;".,-!+6,>!C1599,-!+6,9,!)51-,19!".!+6,!4(+(1,P!!'.!0--"+"5.!+5!

K1,9,.+".;!+6"9!0C+"="+>!".!+6,!C5.C2(9"5.E!'!0295!1,+(1.!+5!*>!"."+"02!,BK2510+"5.!54!

C1"+"C02!)51-,1!+6,51>E!255M".;!0+!65@!+6,"1!@1"+".;!1,=,029!+6,!".+"*0C>!54!0!

K01+"C(201!Q0+".!D*,1"C0.!0.-!4,*"."9+!C5.+,B+!0.-!5K,.9!(K!4(1+6,1!-"025;(,!5.!+6,!

"*K51+0.C,!54!;"129h!,BK,1",.C,!".!(.-,19+0.-".;!0.-!*0KK".;!+6,!@512-P!

!

!

!

! VW!

Chapter 2: Ethnography

2

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!V!/"C+(1,!+0M,.!)>!*,E!](2>!VcUU!

! VY!

!

.1$&.$5*B"$#,$'"8$ $ $ $ C"($,+,.$*$5*B$"[$'&.$

Q"#5U*$?"55*5$01$["50*$#,$',5]$ $ 9"&8#$,5*',$0B$\*B$"[$?,1.;$

.1$,8$,'(5&,.#"'"$5U"$ $ $ C"($,+,.$(P,$51+,5$\1(P$*88$1('$'(5,.;(PO$

6".$'&$[&51*$'*8+*K,]$ $ $ b1(P$1('$'*+*;,$[&5B$

.*#*]$ $ $ $ $ C"(P1.;]$

_H#*81*O$*;,$ac$$ $ $ _H#*81*O$*;,$ac!

$

$

dR&5$.,,#$["5$'("51,'$"[$"&5$81+,'$1'$'"$P&;,O$'"$1.(,.',O$'"$[&.#*0,.(*8O$(P*($\,$\"&8#$

8"',$"&5$P&0*.1(B$1[$\,$'("QQ,#$(5B1.;$("$(,88$'("51,'$"[$\P"$\,$(P1.2$\,$*5,3$$

$ $ $ _G&(P$-,P*5O$d<5*.'8*(,#$b"0*.3$aeef$

!

FD."+0E!?5!9";09!02!65*)1,!C5.!(.!K",!-,!0."*02E!5!+,!K,1-,1r9!K51!9",*K1,!,.!

20!9,2=0fP!!'!@09!@02M".;!),6".-!:"0.0E!0.-!96,!2"4+,-!6,1!9M"1+NC5++5.!0.-!40-".;E!+6".!

0.-!K".MNd(9+!0)5=,!6,1!M.,,9P!!$,1!2,;9!01,!9M"..>E!0.-!96,!20(;69!0!25+E!95*,+"*,9!

96>2>E!0.-!5+6,1!+"*,9!95!25(-!0.-!155*N4"22".;!+60+!'!"*0;".,!0!6(;,!*>+6"C02!

@5*0.!@02M".;!".!415.+!54!*,E!2,0-".;!*,!+5!+6,!,-;,!54!0!1"=,1P!!!

FD."+0E!?5!9";09!02!65*)1,!C5.!(.!K",!-,!0."*02E!5!+,!K,1-,1r9!K51!9",*K1,!,.!

20!9,2=0f!T.1(*O$#".Y($["88"\$(P,$0*.$\1(P$".,$*.10*8$[""(O$"5$B"&$\188$?,$8"'($1.$(P,$

K&.;8,$["5,+,5O!96,!+,229!*,E!255M".;!)0CM!+5@01-!*,!09!96,!90>9!+6,!209+!+@5!9>220)2,9!

54!D.N"+N+0R!0.-E!09!"4!'h=,!2"=,-!6,1,!451,=,1!0.-!025.;9"-,!6,1E!96,!09M9!*,!"4!'h=,!

,=,1!*,+!+6,!&60K".;5E!+6,!*0.!@"+6!0.!0."*02!455+!@65!+10.9451*9!6"*9,24!".+5!0.!

! V^!

".+"*0+,!41",.-!51!40*"2>!*,*),1E!+1"CM9!>5(!".+5!45225@".;!6"*E!0.-!+6,.!2,0=,9!>5(!

".!+6,!-,,K,9+!K01+9!54!+6,!d(.;2,!@6,1,!>5(!.,=,1!4".-!>5(1!@0>!65*,!0;0".P!

!!Fs02;(.0!=,L!+,!609!,.C5.+10-5!C5.!,2!&60K".;5E!-"if!

F.5!9mq!s8("m.!,9if!!'!-5.h+!M.5@E!@65!"9!6,i!'!09M,-!6,1E!C5.4(9,-E!0.-!96(442".;!

+615(;6!+6,!01C6"=,9!".!*>!5@.!*".-!54!I(0+,*020.!*>+6"C02!4";(1,9!'!*";6+!60=,!

;15@.!(K!@"+6E!)(+!+6,!5.2>!+6".;!'!C0.!+6".M!54!"9!+6,!*,+0K651!54!*,.P!!J(+!+6"9!"9!

.5+!0)5(+!*,.E!'!+6".ME!95!'!90>!.5+6".;P!

!F?5!+,!-,d,9!,.;0k01E!.5!9,09!)5)0P!$0>!8(,!*"1012,!(.0!K0+0P!!&"!+",.,!(.0!K0+0!-,!

0."*02!>!(.0!-,!65*)1,E!,9!,2!&60K".;5E!>!.5!60>!8(,!9,;("12,E!0(.8(,!+,!25!K"-,fP!

Z".Y($8,($B"&5',8[$?,$[""8,#O$#".Y($?,$'(&Q1#]$$X"&$P*+,$("$8""2$*($P1'$[,,(]$$H[$P,$P*'$".,$

*.10*8$[""($*.#$".,$P&0*.$[""(O$1($1'$(P,$=P*Q1.;"O$*.#$B"&$'P"&8#$."($["88"\$P10O$

,+,.$1[$P,$*'2']$

!

D+!,B0C+2>!6024!*>!0;,E!+@,2=,N>,01N52-!759"+0!"9!+6,!.,@,9+!0.-!>5(.;,9+!

*,*),1!0+!+6,!$5;01!Q0!J(,.0!%9K,10.L0E!20!6*'1(*_!09!+6,!;"129!C022!"+N@"+6".!0!

C25"9+,1,-!O01*,2"+,!C5.=,.+!".!+6,!.51+6,09+,1.!d(.;2,9!54!/,1(!+60+!65(9,9!(.-,1N

K1"="2,;,-!;"129!@65!C5*,!415*!=01"5(9!K01+9!54!+6,!D*0L5.!1,;"5.P!!A59+!C5*,!

415*!1"=,1!C5**(."+",9!.51+6!54!e(1"*0;(09N!Q0;(.09E!l0K5+,E!&0.!Q51,.L5E!

A010.0+5E!&0.!I0)1",2!-,!t010-,15E!/(,1+5!/51=,."1E!&0.+0!7590!-,!#"5>0C(E!

J0290>0C(E!],),159E!&0.+0!O1(LE!D+06(02K0P!!#6,>!C5*,!415*!0!*"B!54!O0.-596"!0.-!

O60>06("+0!'.-";,.5(9!;15(K9E!>,+!),C0(9,!54!25C0+"5.!025.;!+6,!1"=,1E!9K,0M!-"9+".C+!

20.;(0;,9!S09!@,22!09!-"02,C+9!54!+6,!".-";,.5(9!20.;(0;,9TE!9(C6!09!D@0d(.E!&60@"E!

O0.-596"!0.-!$(0.)"90E!0.-!8(,C6(0!".!101,!".9+0.C,9P!!

! V_!

759"+0!9601,9!0!201;,!155*!@"+6!,";6+,,.!5+6,1!;"129!@65!60=,!;15@.!(K!".!

+6,!C5.=,.+!451!*(C6!54!+6,"1!2"=,9E!2,4+!09!451;5++,.E!9,.+!451!0!),++,1!,-(C0+"5.!

),C0(9,!+6,1,!01,!.5!9C65529!".!+6,"1!="220;,9E!5+6,19!1,9C(,-!415*!C6"2-!K159+"+(+"5.E!

5+6,19!5(+!54!25=,E!0.-!5+6,19!451!0!904,!K20C,!+5!9+0>P!!A59+!54!+6,*!9K,.-!-0>9!5.!

1"=,1)50+9!+5!011"=,!6,1,E!@6"C6!"9!0!+1"K!54+,.!+55!,BK,.9"=,!0.-!+55!401!451!*59+!

40*"2",9!+5!04451-!+5!="9"+P!!:"0.0h9!C09,!"9!-"44,1,.+G!6,1!65*,+5@.!"9!5.2>!0!+@5N65(1!

d5(1.,>!K01+"022>!5.!1(;;,-!150-9!+615(;6!+6,!d(.;2,E!0.-!K01+"022>!5.!0!.,@!

6";6@0>!)("2+!".!VccZP!!e,+E!+6,9,!+@5!65(19!@"22!C5*,!+5!1,K1,9,.+!,8(022>!09!

K1545(.-!54!0!C5.C,K+(02!0.-!K6>9"C02!)51-,1!09!+6,!-"9+0.C,!),+@,,.!65*,!0.-!

C5.=,.+!-5,9!451!,=,1>!5+6,1!;"12!".!+6,!P";*5E!0.-!96,!@"22E!2"M,!*59+E!C5*,!54!0;,!

0@0>!415*!65*,P!

!

'.!+6,!9"2,.C,!".!),+@,,.!+6,!95(.-!54!4,,+!1,0C6".;!+6,!1"=,1E!0.-!+6,!2"4+".;!

54!,-;,9!54!9M"1+9!0@0>!415*!+6,!9(140C,!2".,!54!@0+,1E!'!0*!;,++".;!+5!M.5@!:"0.0!0+!

+6,!90*,!*5*,.+!+60+!96,!"9!;,++".;!+5!M.5@!6,19,24P!!

!

#6,9,!;"129h!d5(1.,>9!+5!+6,!C5.=,.+!1,K1,9,.+!-"9+".C+!6"9+51",9!54!+10=,2E!2"M,!

+@,.+>N5.,!>,01!52-!t"C+51"0P!!t"C+51"0E!0!O60>0("+0!'.-"0.E!),;;,-!6,1!40+6,1!+5!4".-!

6,1!@51M!".!+6,!C"+>!54!e(1"*0;(09!95!96,!@5(2-!.5+!60=,!+5!*011>!0+!+@,2=,!+5!0!

*(C6!52-,1!*0.!@65!544,1,-!6,1!40+6,1!2"8(51!415*!+6,!C"+>!".!,BC60.;,!451!6"9!

-0(;6+,1P!!&6,!,=,.+(022>!011"=,-!0+!+6,!C5.=,.+!>,019!0;5!04+,1!),".;!9,.+!)>!0!

@5*0.!@65!4,01,-!+60+!+6,!40*"2>!t"C+51"0!C2,0.,-!65(9,9!451!@5(2-!(9,!6,1!09!0!

C6"2-!K159+"+(+,P!!&6,!9+1(;;2,9!@"+6!2"+,10C>E!)(+!+6,1,!"9!0!1"C6!@51-2,99!9+51>!

! V\!

),6".-!+6,!+6"CM!.5+,)55M!54!K5,+1>!96,!609!K15-(C,-P!!!'4!96,!C5(2-!60=,!5.,!K5@,1E!

96,!@1"+,9E!"+!@5(2-!),!+5!C1,0+,!0!@".-!95!9+15.;!+60+!96,!C5(2-!C0(9,!4,01!".!K,5K2,P!

!

#6,!O01*,2"+,!C5.=,.+!"9!02@0>9!*0-,!(K!54!0.>@6,1,!),+@,,.!VcNXc!

C25"9+,1,-!.(.9E!+@5!.5.NC25"9+,1,-!.(.9E!0.-!"+!65(9,9!0.>@6,1,!415*!UcNVV!;"129!

0+!0!;"=,.!+"*,P!#6,!.(.9!@"22!+,22!>5(!+60+!"+!"9!0.!0(+5.5*5(9!C5**(."+>!@"+6!C259,!

+",9!+5!9,=,102!".+("+"5.9!0.-!C6(1C6,9!".!+6,!J098(,!O5(.+1>E!9(C6!09!OD7'#D&E!

@6"C6!9,.-9!K1",9+9!0.-!=52(.+,,19!+5!@51M!451!+6,!*5.09+,1>P!!A59+!54!+6,!K1",9+9!

@65!1,9"-,!".!+6,!="C01"0+5!0C1599!+6,!1"=,1!01,!,"+6,1!415*!+6,!J098(,!C5(.+1>!51!

01,!25C02!/,1(="0.9P!!#6,!K0+15.!90".+!54!+6,!*5.09+,1>!"9!20!t"1;,.!-,2!O01*,.E!@65E!

0CC51-".;!+5!A0-1,!IP!0KK,01,-!+5!&0.!&"*o.!5.!*5(.+!O01*,25!".!&K0".P!!'+!@09!

#,1,90!-,!],9(9!@65!1,451*,-!Q09!O01*,2"+09!".+5!5.,!+60+!".C2(-,-!)5+6!*,.!0.-!

@5*,.P!!'.!UZ\cE!+6,!4"19+!;15(K!54!.(.9!011"=,-!415*!+6,!/,1(="0.!9",1109!+5!2"=,!0+!

+6,!&0.!]59m!*5.09+,1>E!4(.-,-!)>!A01j0!/"201!-,!],9(9P!!&,=,.!>,019!20+,1E!".!UZ\_!

+6,!4"19+!;15(K!54!;"129!@09!)15(;6+!".!+5!2"=,!0+!+6,!*5.09+,1>P!!!

! &".C,!+6,!4"19+!>,01!+6,!4"19+!;15(K!54!;"129!),;0.!2"=".;!".!+6,!C5.=,.+E!+6,!

K15C,99"5.!54!20!t"1;,.!-,2!O01*,.!609!+0M,.!K20C,!5.C,!0!>,01P!!#6"9!K15C,99"5.!609!

099,1+,-!+6,!C5.=,.+h9!K1,9,.C,!".!+6,!+5@.P!!Q0!t"1;,.!-,2!O01*,.E!9+0.-9!8(",+2>!".!

+6,!C5.=,.+h9!C60K,2!025.;!+6,!$(0220;0!1"=,1E!)(+!5.C,!0!>,01!96,!"9!)15(;6+!5(+!+5!

),!C011",-!5.!+6,!)0CM9!54!C5**(."+>!*,*),19!)2,99".;!+61,,!M,>!K20C,9!

+615(;65(+!+6,!C"+>!54!e(1"*0;(09G!+6,!-"9C5+6,8(,E!+6,!K1"95.E!0.-!+6,!*5.09+,1>P!!

D9!+6,!t"1;".!O01*,.!"9!+0M,.!015(.-!+6,!C"+>E!K,5K2,!2,0=,!+6,"1!65*,9!+5!

0CC5*K0.>!+6,!K15C,99"5.P!!#6,!;"129!2"=".;!".!+6,!C5.=,.+!K01+0M,!".!+10-"+"5.02!

! VZ!

/,1(="0.!452M!-0.C,9E!@6"C6E!0CC51-".;!+5!A0-1,!I(0-02(K,E!01,!0!1,K1,9,.+0+"5.!54!

/,1(="0.!C(2+(1,E!@"+6!-0.C,9!415*!+6,!9",110E!+6,!C509+E!0.-!+6,!D*0L5.!1,;"5.P!

!

!

e(1"*0;(09!"9!C5**5.2>!C022,-!+@5!+6".;9G!8*$6,K*$#,$8"'$T.#,'$S+6,!,>,)15@!

54!+6,!D.-,9T!0.-!8*$Q,58*$#,$8*$)&*88*;*$S+6,!K,012!54!+6,!$(0220;0!7"=,1TE!

9>*)52"L".;!"+9!+@5!*0".!,.+1>!K5".+9G!+6,!+61,,!1"=,19!+60+!9(115(.-!"+N&60.(9"E!

/010.0K10E!0.-!+6,!5.,!+60+!2,0-9!"+!+5!+6,!;1,0+,1!D*0L5.09E!+6,!$(0220;0N!0.-!+6,!

5.,!150-!+60+!2,0-9!+5!e(1"*0;(09!S+6,!,>,)15@TP!!D9!0!4"96".;!K51+E!+6,!7"=,1!"9!

e(1"*0;(09h!*0".!95(1C,!54!+10.9K51+0+"5.E!2"=,2"655-E!*>+6525;>E!0.-!".!+6,!C09,!54!

+6,!;"129E!54!011"=".;!0+!+6,!C5.=,.+!0.-!95*,+"*,9E!1,+(1.".;!65*,P!

!

!

!

&5*,!;"129!9601,-!9+51",9!54!),".;!9,.+!+5!+6,!C5.=,.+!451!),++,1!,-(C0+"5.02!

5KK51+(."+",9E!%0C6!;"12!C5*,9!415*!0!-"44,1,.+!="220;,E!".-";,.5(9!C5**(."+>E!

20.;(0;,!)0CM;15(.-!0.-!K20C,E!0.-!02+65(;6!+6,>!011"=,!0+!+6,!C5.=,.+!0+!-"9+".C+!

*5*,.+9!".!+6,"1!2"=,9E!+6,>!9601,!0!C5**5.!,BK,1",.C,!0.-!0!C5**5.!C5.+,B+!54!

C5*".;!54!0;,!".9"-,!+6,!C5.=,.+P!!A0.>!-5!.5+!M.5@!65@!25.;!+6,>!@"22!),!6,1,E!

@6,.!+6,"1!40*"2",9!@"22!),!0)2,!+5!04451-!+6,!25.;!+1"K!+5!="9"+E!51!@6,.!+6,>!@"22!

1,C,"=,!0!K65.,!C022!415*!65*,P!!&5*,!4,01!+6,!-0>!+6,>!4"."96!9C6552E!M.5@".;!+60+!

+6,>!@"22!*59+!2"M,2>!60=,!+5!2,0=,!(.2,99!+6,>!;5!+5!<."=,19"+>P!$5@,=,1E!+6,!+,9+9!

01,!601-!0.-!+6,!9K0C,9!451!(."=,19"+",9!01,!4,@P!!A0.>!9+0.-!2".,-!025.;!+6,!

! Xc!

9+0"1C09,!+60+!2,0-9!+5!+6,"1!155*9!@6"2,!0!40*"2>!C5*,9!+5!K"CM!(K!+6,"1!-0(;6+,1R!0!

*5*,.+!54!90-.,99!0.-!d,025(9>!9"+9!0.-!2".;,19!".!+6,!155*E!)(+!20+,1!"+!2,0=,9!0.-!

2"4,!*5=,9!5.P!

!

! ! ! ! ! uuu!

759"+0!90>9!+60+!0!@5*0.!"9!2"M,!0!425@,1!+60+!C0.!5K,.!"4!96,!+6".M9!96,!609!

2,+!95*,5.,!5K,.!6,1P!!&6,!90>9!+60+!@5*,.!01,!2"M,!159,9G!!+6,>!01,!),9+!C(2+"=0+,-!

)>!+6,"1!5@.!60.-9P!!759"+0!4"19+!-,9C1"),-!6,1!65*,+5@.!+5!*,!09!F.5!60>!

,2,C+1"C"-0-!K,15!60>!r1)52,9!-,!K0K0>0f!<P,5,$1'$."$,8,6(5161(B$?&($(P,5,$*5,$Q*Q*B*$

(5,,'P!!'+!@09!6,1,E!5.!0!+@5N65(1!d5(1.,>!+5!+6,!2";6+N2,99E!K0K0>0N4(22!65*,+5@.!54!

759"+0!+60+!'!4"19+!90@!A0-1,!'h9X!60"1P!!![.!+6"9!-0>E!'!0CC5*K0.",-!6,1!0.-!/0-1,!

/514"1"5!+5!-15K!544!759"+0!0+!6,1!65*,+5@.!),C0(9,!96,!@09!4,,2".;!65*,9"CMP!

'.!+6,!+@5!65(19!"+!+0M,9!+5!-1"=,!5(+!54!e(1"*0;(09E!759"+0h9!65*,+5@.!"9!

+6,!C259,9+!".!-"9+0.C,!+5!+6,!C5.=,.+!5(+!54!022!+6,!5+6,1!,";6+,,.!;"129!@65!01,!

65(9,-!+6,1,P!!'+!"9!6(*"-!+60+!-0>E!0.-!+6,!9@,0+!415*!5(1!60"1!K1,99,-!0;0".9+!5(1!

40C,!40229!".+5!5(1!*5(+6E!0.-!@,!01,!+55!+"1,-!+5!*5=,!"+P!!/0-1,!/514"1"5!+,229!A0-1,!

'!+5!2,+!0"1!".!+615(;6!6,1!.(.9h!60)"+!),C0(9,!"+!"9!0.!".d(9+"C,!+60+!.(.9!60=,!+5!

-1,99!+6,!@0>!+6,>!-5P!!&6,!20(;69!@,0M2>!0.-!9+"CM9!6,1!6,0-!5(+!+6,!@".-5@P!!H,!

9+5K!)>!0!1"=,1!),C0(9,!.5!5.,!C0.!9+0.-!+6,!6,0+P!!759"+0!09M9!*,!"4!'!M.5@!+6,!9+51>!

54!+6,!*0.!@"+6!5.,!6554!@65!-10;9!>5(!-,,K!".+5!+6,!d(.;2,!.,=,1!+5!),!45(.-!

0;0".P!

!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!X!O01*,2"+,!.(.9!01,!1,4,11,-!+5!09!A0-1,!gP!!A0-1,!'.,9!"9!+6,!.(.!".!C601;,!54!+6,!@,22N),".;!54!+6,!;"129!65(9,-!0+!+6,!O5.=,.+P!

! XU!

H,!@02M,-!-5@.!+5!0!9,C2(-,-!K01+!54!+6,!1"=,1E!@6,1,!A0-1,!'E!@659,!

0*5(.+9!54!9*"2,9!'!C5(2-!C5(.+!5.!5.,!60.-E!255M,-!0+!*,!0.-!90"-!Fa(,!*,!

K,1-5.,!:"59E!K,15!.0-01!.5!,9!K,C0-5f!%*B$!"#$["5;1+,$0,O$?&($'\1001.;$1'$."($*$

'1.P!!&6,!2"4+9!0!20>,1!54!6,1!1,2";"5(9!P*?1(E!0!)15@.!C250M!@51.!)>!022!O01*,2"+,!.(.9E!

0.-!925@2>!+0M,9!544!K".9!+60+!652-!"+!+5;,+6,1E!K(96".;!5+6,1!20>,19!-5@.!+5@01-!

6,1!.,CME!0.-!2";6+!)15@.!60"1!40229!-5@.!+5!6,1!965(2-,19P!!&6,!),.-9!5=,1!+6,!,-;,!

54!1"=,1E!0.-!"+!255M9!2"M,!96,!"9!-1".M".;!+6,!2,;,.-9!5(+!54!+6,!@0+,1E!40C,!0.-!*"2,9!

54!60"1!(.-,1.,0+6!@0+,1P!!'!C5(2-!60=,!@0+C6,-!6,1!451,=,1E!0!@5*0.!'!4,01,-!0.-!

@09!409C".0+,-!)>E!C250M,-!0.-!8(",+P!!'!@0.+,-!+5!09M!6,1!0)5(+!6,1!60"1E!+5!259,!

*>9,24!".!+6,!9+51",9!.,9+2,-!".!"+E!0.-!+5(C6!+6,!20>,19!54!60)"+!C25+6!C522,C+".;!90.-!

0.-!-"1+!5.!+6,!,-;,!54!+6,!1"=,1P!!

!

#,019!9@,22!(K!".!759"+0h9!,>,9!09!96,!1,C5;."L,9!6,1!40+6,1!C(++".;!K0K0>09!

544!54!+1,,9P!!#0++559!54!-5=,9!4"22!6"9!C6,9+!+65(;6!.5.,!01,!C5251,-!".P!!&6,!9,,9!6,1!

;10.-*5+6,1E!@1".M2,-E!),.+!0.-!@"+6!0!9*"2,!+60+!C5(2-!4"22!+6,!,.+"1,!201;,!155*!

@6,1,!+6,>!022!2"=,!@"+6!:"0.0h9!*5+6,1E!+@5!)15+6,19E!+@5!.,K6,@9!0.-!9"9+,1!S@65!

60-!5.C,!2"=,-!".!+6,!C5.=,.+TP!!#6,>!022!@0"+!451!759"+0!+5!C5*,!65*,P!

!

! ! ! ! ! uuu!

!

759"+0!255M9!(K!+5!+6,!52-,1!;"129!0+!+6,!C5.=,.+E!+65(;6!+6,>!54+,.!";.51,!6,1!

0.-!'!;,+!+6,!4,,2".;!+60+!0+!4"4+,,.!0.-!52-,1E!95*,!4,,2!+55!@5*0.2>!+5!+02M!+5!9(C6!0!

>5(.;!;"12P!!'!4"19+!*,+!I,.5=,=0!0.-!A"20;159!".!Vcc\!@6,.!+6,>!@,1,!.".,+,,.!0.-!

! XV!

,";6+,,.E!1,9K,C+"=,2>E!@6,.!I,.5=,=0!(9,-!+5!09M!*,!+5!0CC5*K0.>!6,1!+5!)(>!

C0..,-!*"2M!451!+6,!+@,.+>N+@5!;"129!0.-!+@5!.(.9E!0.-!+6"1+>!5+6,1!C25"9+,1,-!.(.9P!!

&5*,65@!@6,.,=,1!"+!@09!I,.5=,=0h9!+(1.!+5!K"CM!(K!*"2ME!@,!1,+(1.,-!@"+6!6,1!

K20..,-!K6109,!0.-!-10*0+"C!0K525;>E!F`>0!9,!+,1*".ovfP!!&6,!09M,-!*,!+5!

0CC5*K0.>!6,1!95!'!C5(2-!@0"+!@"+6!A"20;159!5.!+6,!9"-,!54!+6,!150-!@6"2,!96,!

+(1.,-!+6,!C51.,1!+5!M"99!0!)5>P!!'!2,+!"+!60KK,.!*0.>!+"*,9R!'!@0.+,-!+5!),!+6,!209+!

K,195.!@65!@5(2-!,=,1!K1,=,.+!25=,!415*!60KK,.".;P!!&6,h-!d5".!(9!)0CM!0+!+6,!9"-,!

54!+6,!150-E!0.-!@02M!)0CM!".!25=,N0C6".;!9"2,.C,!0.-!-,,K!)1,0+69P!!&6,!609!0!6(;,!

9*"2,E!0.-!6,1!,>,9!1522!+5!+6,!,-;,!54!6,1!6,0-!".!,B0;;,10+,-!*5=,*,.+9!0.-!96,!

2,+9!5(+!0!-,,K!)1,0+6P!!&6,!09M9!*,!"4!'!C0.!+,22!96,h9!".!25=,P!!h.*0"5*#U'10*E!'h-!

9*"2,!)0CME!C10=".;!+6,!9@,,+.,99!54!*"2M!+60+!9"+9!".!C0.9E!0.-!9,C1,+2>!@511",-!+60+!

+6,!25=,!+60+!96,!)1,0+6,-!".!0.-!5(+!5.!5(1!@02M9!)0CM!+5!+6,!"15.!;0+,9!54!+6,!

C5.=,.+!!N1(9+,-!1,-!"15.!+60+!9,K010+,-!+6,!+5@.!54!e(1"*0;(09!415*!+6,!C5.=,.+E!

+6,!;"129!415*!+6,!-0.;,19!54!*,.!0.-!@512-E!0*5.;!5+6,1!+6".;9N!@5(2-!+(1.!".+5!

C6"2-)"1+6!0.-!K5=,1+>!09!95!*0.>!+"*,9!"+!-5,9!451!;"129!6,1,!0.-!,=,1>@6,1,P!!!

!

J,6".-!+6,!)15@.N1,-!K0".+,-!"15.E!I,.5=,=0!0.-!A"20;159!@,1,!),9+!

41",.-9P!!J5+6!@,1,!0)5(+!+5!;10-(0+,!6";6!9C6552!@6,.!+6,>!*0-,!0!K0C+!+60+!+6,>!

@5(2-!.,=,1!),C5*,!.(.9R!+60+!@6,.!I,.5=,=0!1,+(1.,-!".!:,C,*),1!54!Vcc\!415*!

="9"+".;!6,1!40*"2>!".!+6,!+5@.!54!D+06(02K0E!+6,>!@5(2-!9+(->!K9>C6525;>!0+!+6,!

25C02!(."=,19"+>!0.-!),C5*,!9(CC,994(2!K9>C6525;"9+9P!!I,.5=,=0!0.-!A"20;159!60=,!

.,=,1!9K5M,.!+5!,0C6!5+6,1!9".C,!+6,"1!K0C+E!)(+!+6,>!2"=,!@"+6".!".C6,9!>,+!@512-9!54!

,0C6!5+6,1E!9,K010+,-!)>!0!@022!0+!+"*,9!09!9+15.;!09!I5-P!

! XX!

!

A"20;159!@"22!+(1.!+@,.+>!".9"-,!+6,!C25"9+,1E!@6,1,!96,!609!.5@!9K,.+!+@5!

>,019!@"+65(+!,=,1!60=".;!2,4+P!!!&6,!5.C,!-,9C1"),-!6,19,24!2"M,!0.!5."5.E!0!20>,1,-!

C"1C(201!*,99!54!I5-E!@5*0.655-!0.-!".-";,.5(9!20.;(0;,E!@6"C6!96,!-1,@!".!

-,+0"2!".9"-,!0!-10@".;!54!0!>,225@!5."5.!@"+6!0!C1599!"*K02".;!"+9!d("C,N4"22,-!

9(140C,P!!A"20;159E!@65!'!0*!.5+!0225@,-!+5!+5(C6W!),C0(9,!96,!"9!.5@!0!C25"9+,1,-!

.(.!-,=5+,-!+5!I5-!0.-!$,19,24E!60.-,-!*,!0!.,CM20C,!54!20!t"1;,.!A01j0!96,!609!

@51.!6,1!@652,!2"4,E!+615(;6!+6,!@55-,.!)019!54!+6,!*59+!K,.,+10)2,!9K0C,!".!+6,!

C5.=,.+!9+1(C+(1,G!+6,!25C(+51"5E!51E!="9"+".;!155*P!!#6"9!155*!"9!+6,!9"+,!54!="9"+9E!

-5C+51!C5.9(2+0+"5.9E!0.-!5CC09"5.022>!451)"--,.!25=,P!!&5*,+"*,9!"+!"9!+6,!9"+,!54!

+,019!>5(!C0.!5.2>!9,,!"4!>5(!255M!C259,2>P!!!

!!

'!C0+C6!;2"*K9,9!54!6,1!415*!+6,!25C(+51"5E!@6,1,!"*0;,9!54!+6,!@512-!54!

C25"9+,1!42096!+615(;6!+6,!9K0C,9!),+@,,.!@55-,.!)019!2"M,!2";6+9!+615(;6!)2".-9P!!

I,.5=,=0!"9!9+(->".;!+5!),!0!.(19,R!96,!965@9!*,!+,B+!*,990;,9!415*!+@5!25=,19!

0.-!90>9!+60+!96,!d(9+!C0.h+!-,C"-,!@6"C6!5.,!+5!C6559,E!0.-!@6>!965(2-!96,i!!&6,!

0.-!A"20;159!-5!.5+!9K,0M!0.>*51,P!'!"*0;".,!+6,"1!+@5N>,01!9"2,.C,!"9!K01+2>!415*!

K0".E!K01+2>!415*!+6,!9+1"C+!9C6,-(2,!54!C25"9+,1,-!.(.9!0.-!+6,!9651+!+@5!65(19!K,1!

-0>!+6,>!01,!025(-!+5!9K,0ME!0.-!K,160K9!+6,!@0229!0+!+"*,9!+55!+6"CM!+5!C5.C,"=,!54P!!!

!

D9!'!@02M!)0CM!+5!+6,!O5.=,.+!0.-!,.+,1!+615(;6!"+9!"15.!;0+,9E!'!K099!+6,!C5N

,-!K1"95.E!0.-!+6,!)5-,;0!@"+6!+6,!,";6+>N>,01!52-!*0.!@65!9"+9!5.!+6,!9+55K!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!W!A59+!C25"9+,1,-!.(.9!01,!.5+!0225@,-!+5!+5(C6!0.>5.,!51!),!+5(C6,-P!

! XW!

5(+9"-,!+6,!)5-,;0!022!-0>P!#6,!.(.9!60=,!1(*51,-!6,!"9!+6,!1,9"-,.+!FQ&("3P!!$,!

.,=,1!40"29!+5!>,22!0+!*,E!!

w*"!K1,C"590!C6"."+0v!O5.!(9+,-!*,!=5>!0!C0901wP!!

'!>,22!)0CME!w,9!8(,!)(9C5!(.5!*09!d5=,.C"+5wP!!

H,!20(;6E!5.2>!+5!1,K,0+!+6,!15(+".,!+6,!.,B+!-0>P!'!K099!+6,!201;,E!),0(+"4(2!

*5+6,12>!&,k510!@65!4"B,9!965,9E!C25+6,9E!9,@9!)(++5.9E!0.-!1,NC601;,9!C,22!K65.,9P!

D22!451$(5,'!'"8,'O$@6"C6!+6"9!@,,M!"9!0)5(+!,8("=02,.+!+5!5.,!-52201P!!

!

#6,!;"129!0+!+6,!$5;01!K099!)>!+6"9!9+1,,+!,=,1>!-0>!@6,.!+6,>!@02M!+5!9C6552P!!

D22!;"129!0++,.-!+6,!J52"=01!9C6552E!@6"C6!"9!d(9+!-5@.!+6,!150-!K099,-!+6,!K52"C,!

9+0+"5.P!!#6,!>5(.;,1!;"129!.5+!>,+!".!6";6!9C6552!2,0=,!09!0!;15(K!0+!^GXc!".!+6,!

*51.".;E!0.-!1,+(1.!)>!UVGccK*P!!D+!015(.-!UVGXcK*!022!+6,!;"129E!A0-1,!IP!0.-!

A0-1,!'P!60=,!2(.C6!+5;,+6,1E!0.-!0+!UGXc!+6,!6";6!9C6552N0;,-!;"129!*0M,!+6,"1!@0>!

+5!9C6552E!0.-!+6,>!01,!)0CM!)>!^K*P!!D+!^GXc!+6,>!9@,,K!+6,!C60K,2E!C2,0.!+6,!,0+".;!

01,0!@6"2,!+@5!;"129!0+!0!+"*,!C55M!*,029!451!022E!0.-!0+!\GXc!+6,>!9"+!-5@.!+5!@0+C6!

+,2,.5=,209P!!$

!

A0-1,!'E!+6,!.(.!".!C601;,!54!+6,!;"129!0.-!+6,!.5.NC25"9+,1,-!K01+!54!+6,!

C5.=,.+!+52-!*,!+60+!96,!@0.+9!+6,!C5.=,.+!+5!),!0.!02+,1.0+"=,!+5!+6,!*0C6"9*5!

+60+!+6,9,!;"129!S0.-!022!54!(9T!;15@!(K!@"+6E!0.-!0.!02+,1.0+"=,!+5!0.!02*59+!

0)952(+"9*!".!+6,"1!2"=,9G!+60+!+6,>!01,!5.2>!;55-!451!9,BE!+5!60=,!C6"2-1,.!S0.-!.5!

9,B!04+,1!+60+TE!+5!C55ME!0.-!+5!),!0"-,9!5.!+6,"1!6(9)0.-h9!401*9P!D.-!.5+!,=,.!451!

+6"9!01,!+6,>!=02(,-P!

! XY!

!

7,0-".;!+615(;6!+6,!9"B+,,.!)55M9!54!K5,+1>!0.-!2"4,!9+51",9!+6,>!60=,!;"=,.!

*,E!'!9,,!+60+!+6,>!".C2(-,!I5-!".!0!25+!54!+6,"1!@1"+".;E!)(+!.5+!0!I5-!+60+!*0M,9!

+6,*!5),-",.+!51!25>02P!'+!"9!0!I5-!+60+!*0M,9!+6,*!),0(+"4(2P!'!0*!0!9,-(C+1,99E!5.,!

54!+6,*!@1"+,9E!),C0(9,!I5-!;0=,!*,!+60+!K5@,1P!

!

D9!'!90+!@"+6!A0-1,!'!".!+6,!C51.,1!54!0!201;,!-".".;!155*!@"+6!@0229!C10CM,-!

415*!,01+68(0M,9!+615(;65(+!+6,!>,019!9".C,!"+!@09!4"19+!)("2+!".!UZ\WE!96,!+52-!*,!

0)5(+!:,"9>P!!:,"9>E!5.,!54!*>!),9+!K5,+9!0.-!(."8(,!C6010C+,19!415*!+6,!K5,+1>!

@51M965K!'!C5.-(C+,-!+@5!>,019!K1"51E!"9!,";6+,,.!0.-!K1,;.0.+!@"+6!6,1!+6"1-!

C6"2-P!#@5!>,019!0;5E!6,1!*5+6,1!K(22,-!6,1!5(+!54!+6,!C5.=,.+!0.-!90"-!96,!@5(2-!

.,=,1!),C5*,!(9,4(2!"4!96,!9+0>,-!".!+6,!C5.=,.+P!!&6,!+55M!:0"9>!)0CM!+5!+6,"1!

65*,+5@.P!!#@5!>,019!20+,1E!:,"9>!.5@!609!0!6(9)0.-E!0.-!"9!K1,;.0.+!@"+6!6,1!

+6"1-!C6"2-P!!

! ! ! ! ! uuu!

'!+6".M!54!+6,!)51-,120.-9!+60+!"9!e(1"*0;(09G!09!+6,!,>,)15@!54!)5+6!+6,!

d(.;2,!0.-!6";620.-9R!@6,1,!'.-";,.5(9!*,,+9!*,9+"L0d,E!.5!451*02!,-(C0+"5.!*,,+9!

9+1"C+!,-(C0+"5.9!9+1(C+(1,9E!0.-!@6,1,!;"129!*,,+!,0C6!5+6,1!0.-!+6,*9,2=,9E!".!0!

9K0C,!09!.(0.C,-!09!+6,"1!2"=,9!0.-!@1"+".;P!!

'!+6".M!0)5(+!+6,!,=,.!*51,!C5*K2,B!0.-!K1545(.-!9K0C,!+60+!"9!+6"9!

C25"9+,1,-!C5.=,.+E!5.!+6,!,-;,!54!0!+5@.!025.;!0!+1")(+01>!54!+6,!D*0L5.E!0.-!".!+6,!

C,.+,1!54!C5*K2,B!0.-!)(--".;!@5*0.655-P!

!

! X^!

! ! ! ! ! uuu!

!

D.!52-!)2".-".;!*0.E!+,.-,12>!M.5@.!09!,8$61,;&1("E!9"+9!(.-,1!0.!(*)1,220!

@"+6!6"9!+>K,@1"+,1E!@0"+".;!451!9+51",9P!!#6,!+5@.!2,++,1N@1"+,1P!!D!2".,!54!K,5K2,!".!

415.+!54!6"*G!+6,!"22"+,10+,E!+6,!".N25=,E!0.-!+6,!65*,9"CME!@"+6!2,++,19!5.!+6,"1!

+5.;(,9!+5!),!+52-!+5!6"*E!@51-!451!@51-E!2".,!)>!2".,P!!#6,!-,9K,10+"5.!+5!+,22!9+51",9!

"9!@60+!)15(;6+!*,!)0CM!6,1,!+5!C522,C+!+6,"1!9+51",9!0)5(+!I5-E!C5*".;!54!0;,E!

+10=,2E!0.-!9,B(02"+>P!!J>!P,5,E!'!-5!.5+!*,0.!+6,!/20L0!-,!D1*09!@6,1,!,2!C",;("+5!

*01M9!544!6"9!C51.,1E!".!),+@,,.!+6,!O0+652"C!C5251".;!)55M!9+51,!0.-!+6,!65,0"8*#*!

965KR!'!-5!.5+!*,0.!+6,!O5.=,.+!@6,1,!'h=,!9K,.+!4"=,!*5.+69!5=,1!+6,!K09+!+@5!

>,019!C522,C+".;!K5,+1>!0)5(+!I5-E!"-,.+"+>!0.-!@5*,.h9!9,B(02"+>R!51!e(1"*0;(09E!

51!,=,.!/,1(P!!J>!),5,E!'!*,0.!Q0+".!D*,1"C0P!!!!

!

'!+6".M!0)5(+!+6,!25C"!415*!@6"C6!+6,"1!2"4,!6"9+51",9!9K,0MP!#6,!+51.5G!

1,=52=".;!-551!54!,.-2,99!;599"KE!0!)1"-;,!),+@,,.!+6,!)51-,1!54!C25"9+,1!0.-!

C5.=,.+P!!#6,!25C(+51"5G!+6,!9"+,!54!40+6,19!),;;".;!-0(;6+,19!+5!C5*,!5(+E!40+6,19!

+61,0+,.".;!-0(;6+,19$1[!+6,>!C5*,!5(+E!9"+,!54!451)"--,.!25=,!0.-!+6,!+,*K+0+"5.!+5!

)1,0M!+6,!=5@9!54!C609+"+>P!!#6,"1!K5,+1>!"9!0!9"+,!54!C5.4,99"5.!0.-!9,24N1,=,20+"5.P!!

#6,"1!*0K9!01,!,BK2510+"5.9!54!+6,"1!+10=,2!15(+,9!".!),+@,,.!@512-9!0.-!)51-,19E!

415*!65*,!+5!C5.=,.+!0.-!;"12655-!+5!@5*0.655-P!!#615(;6!+6,!0C+!54!+,22".;!+6,"1!

2"4,!9+51",9E!+6,>!1,=,02!0!*51,!C5*K2,B!6"9+51>!54!D*m1"C0!Q0+".0E!0.-!1,NC20"*!"+9!

9,C1,+!0.-!9,C2(-,-!9K0C,9E!4"22".;!+6,*!@"+6!2"4,!0.-!@51-9P!

!

! X_!

'!02@0>9!M.,@!+60+!C5*".;!)0CM!+5!Q0+".!D*,1"C0!@5(2-!1,=,02!"+9,24!".!K01+9E!

.,=,1!C5*K2,+,E!)(+!".!9*022!K01+"02!+1(+69!9K0..".;!>,019P!!'!K099!,8$61,;&1("E!6"9!

+>K,@1"+,1!0.-!6"9!9,1K,.+N2"M,!2".,!54!9+51>+,22,19E!-5@.!e(1"*0;(09h!*0".!9+1,,+!+5!

+6,!C5.=,.+P!!'!011"=,!+5!+6,!@512-!54!+6,9,!9"B+,,.!;"129!0.-!+6,"1!9"B+,,.!.5+,)55M9!

4"22,-!@"+6!K5,+1>!0)5(+!)5->!K01+9!+6,>!25=,!0.-!+659,!+6,>!60+,R!*0K9!0.-!5->99,>!

.0110+"=,9!0)5(+!+6,"1!d5(1.,>9!415*!65*,!+5!C5.=,.+!0.-!+6,!,BC"+,*,.+!0.-!

25.,2".,99!+6,>!C011",-!5.!+6,!)50+9!025.;!+6,!1"=,19R!+,9+"*5."02!.0110+"=,9!0)5(+!

*,.9+1(0+"5.!0.-!+10.9451*0+"5.R!+6,"1!9,C1,+9E!K65+5;10K6"C!9,24NK51+10"+9E!2"4,!

9+51",9!0.-!-,C2010+"5.9!54!@5*0.655-P!$

!

'!K(+!+6"9!9+51>E!+6,.E!".!+6,!*5(+69!54!+6,9,!;"129!0.-!@5*,.!),C0(9,!"+!"9!

65@!'!M.5@!+6,!9+51",9!54!Q0+".!D*,1"C0E!)(+!0295!+5!;"=,!)"1+6!+5!+6,!2"4,E!"*0;,!0.-!

)5->!54!0.5+6,1!D*m1"C0!Q0+".0G!+6,!5.,!54!;"129!@65!C5*,!54!0;,!".!"+9!C5.=,.+9P!!

#6,!5.,!54!;"129!.,;5+"0+".;!"+9!C5.9+0.+!)51-,120.-9!415*!),6".-!+6,!"15.!;0+,!09!

9+15.;!09!+6,*E!0!9+1,.;+6!'h=,!C5*,!+5!M.5@!C5(2-!5.2>!*0+C6!+60+!54!@5*,.!51!

I5-P!!

! X\!

Y!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Y!A01"0!]59,4".0E!UYE!,BC,1K+!415*!0!2,++,1N@1"+".;!,B,1C"9,!

“Le pido a Dios que nos volveremos a ver”

-Maria-Josefina, 15 !

! XZ!

Chapter 2 / Capítulo 2!

“Mi Poder es Hace Volar Casas”:

Collective Map from Home to Hogar

Warm-Up Calentamiento

-3 sets of acrylic paint -3 trastes de pintura acrílica

-Brushes of all sizes and textures -Pinceles de varios tamaños y

colores

-Two large poster board papers -2 pedazos grades de papel

Sketch your hometown on a separate sheet of paper, without using any

maps as aides.

Later, put everything together in a collective map

Dibuje tu pueblo natal en un papel separado, sin usar mapas como guías.

Luego, juntar todo en una mapa colectiva

! Wc!

$

%1$4"#,5$,'$)*6,5$7"8*5$9*'*':$

O522,C+"=,!*0K!415*!$5*,!+5!)";*5$

!

!F'!+6".M!96,!25.;,-!+5!-@,22!".!+6,!65(9,!*>!9")2".;9!0.-!'!;1,@!(K!".!022!+6,!-0>9!54!

6,1!2"4,E!0.-!".!95*,!@0>9E!+6,!45(1!54!(9!9+"22!-@,22!".!5(1!C6"2-655-!65*,E!C011>!"+!

@"+6!(9E!2"M,!+(1+2,9!C011>!+6,"1!65*,9qf!!

! ! ! N/0+!A510E!F$5(9,!54!$5(9,9f!UZZ_!

!

Fx;,5;10K6",9y!01,!.5+!d(9+!-,0-!)0CM;15(.-!51!0!.,(+102!K6>9"C02!9+0;,!451!+6,!

6(*0.!-10*0!)(+!01,!4"22,-!@"+6!*0+,1"02!0.-!"*0;".,-!451C,9!+60+!044,C+!,=,.+9!0.-!

,BK,1",.C,9E!451C,9!+60+!C0.!6(1+!(9!51!6,2K!(9!".!.,012>!,=,1>+6".;!@,!-5E!

".-"="-(022>!0.-!C522,C+"=,2>f!

! ! ! ! N%-@01-!&5d0E!F&,,M".;!&K0+"02!](9+"C,f!VcUc!

!

#6,!2"+,10+(1,!54!+659,!@65!60=,!*";10+,-E!@6,+6,1!1,;"5.022>!51!

+10.9.0+"5.022>!101,2>!,=5M,!5.2>!5.,!K20C,P!!'+!"9!101,2>!5.2>!0)5(+!+6,!K20C,!011"=,-R!

10+6,1E!d(9+!09!K1,9,.+!"9!+6,!K20C,!+60+!@09!2,4+P!!H60+!01,!+6,!9+51",9!+6,!;"129!54!,2!

$5;01!20!J(,.0!%9K,10.L0!C011>!".+5!+6"9!65*,i!!$5@!"9!+6"9!65;01!)("2+!54!*0.>!

65;01,9R!@60+!01,!+6,!5+6,1!155*9E!+6,!5+6,1!),-9E!+6,!5+6,1!95(.-9!+60+!*0M,!(K!

+6"9!155*i!!'!),;".!@"+6!+6,!C,.+102!.5+"5.!54!-"9K20C,*,.+!".!+60+!+6,!0C+(02!

;,5;10K6"C!-"9+0.C,!415*!65*,!54!51";".!+5!+6"9!C5.=,.+!"9!K6>9"C022>!0.-!

;,5;10K6"C022>!6(;,P!!J(+!09!6(;,!09!+60+!"9E!z+6,!C5.C,K+(02"L,-!;,5;10K6"C02!

! WU!

-"9+0.C,!0.-!+6,!9+51",9!.0110+,-!015(.-!+6"9!d5(1.,>E!01,!,=,.!)";;,1P!!D2+65(;6!

*0.>!54!+6,!;"129!60=,!.5+!),,.!+5!+6,"1!65*,9!54!51";".!451!K,160K9!6024!+6,"1!2"4,E!

+6,>!1,*,*),1!+6,"1!65*,!54!)"1+6!@"+6!+6,!90*,!-,+0"2!09!+6,>!C5(2-!-,9C1"),!+6,!

C5.=,.+E!K,160K9!@"+6!+6,!6,2K!54!"*0;".0+"5.P!!

!

!

!

!

%2!$5;01!20!J(,.0!%9K,10.L0!"9!.5!5.,h9!4"19+!65*,R!.5.,!54!+6,!9"B+,,.!;"129E!

+@,.+>!+@5!C25"9+,1,-!.(.9!@65!2"=,!".9"-,!"+9!@0229E!51!+6,!+@5!.5.NC25"9+,1,-!.(.9!

@,1,!)51.!6,1,!51!0.>@6,1,!.,01!6,1,P!!e,+E!+6,!.0*,!54!+6"9!K20C,!,.-,01".;2>!

K20>9!544!@60+!"+!*,0.9E!x)";*5:$65*,yE!0.-!0*5.;!"+9!1,9"-,.+9!"+!"9!C022,-!@*$9*'1(*O$

51E!81((8,$P"0,P!!D22!54!+6,!;"129!0.-!@5*,.!@65!*0M,!(K!@*$9*'1(*!60=,!5.C,!

+10=,22,-!401!+5!011"=,!6,1,E!0.-!@"+65(+!+6,"1!40*"2>P!!&5*,!011"=,-!".!51-,1!+5!

),C5*,!.(.9E!0.-!5+6,19!011"=,-!0+!+6,!9(;;,9+"5.!54!.(.9!@65!K15*"9,-!;"129h!

! WV!

40*"2",9!41,,!.5.N1,2";"5(9!,-(C0+"5.E!0!K20C,!+5!92,,KE!455-E!C25+6,9!0.-!0!904,!K20C,!

451!+6,"1!-0(;6+,19!+5!;15@P!!<.0)2,!+5!04451-!+6,"1!-0(;6+,19E!+6,!40*"2",9!0;1,,-E!

0.-!,=,1>!]0.(01>!+6,1,!01,!02@0>9!0!4,@!.,@!;"129!0.-!0!4,@!.,@!.(.9!@65!@"22!

9+01+!+6,"1!2"4,!".!8*$6*'1(*P!

!

!

!

!

! ! ! G"6U"$*.#$(P,$!&,'($G""0$

!

!

#6,!;"129!M.5@!*>!4,01!54!;659+9E!0.-!*>!6,9"+0.C>!@"+6!92,,K".;!".!+6,!5.,!155*!

+60+!40C,9!+6,!5(+9"-,P!!F?5!+,!K1,5C(K,9E!D."+0fE!90>9!75Cj5E!F,1,9!(.0!)(,.0!

K,195.0E!>!],9(9"+5!-,!C("-01rfP!

!

75Cj5!*,!-"d5!8(,!9"!*,!09(9+5!,.!20!.5C6,E!8(,!

1,L,!0!],9(9"+5P!!&6,!+52-!*,!+5!K10>!+5!+6,!

K51+10"+!54!],9(9!0)5=,!*>!),-!".!+6,!155*!+6,>!

60=,!K20C,-!*,!".E!0!9,K010+,!155*E!+65(;6!9+"22!

".9"-,!+6,!C5.=,.+P!!'.!+6,!-".".;!155*!+60+!4255-9!

@6,.!"+!10".9E!9,=,.+,,.!;"129!9C1,0*,-!0.-!

961",M,-!+5!+6,"1!5@.!9+51",9!0)5(+!+6,!;659+9!

+60+!150*!+6,!C5.=,.+P!!#6,>!+52-!*,!+60+!+6,!

C5.=,.+!9"+9!5.!e(1"*0;(09h!4"19+!C,*,+,1>P!!#6,>!

M.5@!+6"9!),C0(9,!+6,>!9,,!+6,!52-!&K0."96!.(.!!

!

! WX!

!

! ! ! ! ! ^!

M.,,2,-!0+!+6,!4"19+!K,@!5.!+6,!2,4+q96,!"9!6,0-2,99E!0.-!*50.9P!!#6,>!9,,!6,1!@6,.!

+6,>!+0M,!+(1.9!+5!9@,,K!+6,!C6(1C6!0+!^GXc!0+!.";6+E!d(9+!),451,!-"..,1P!!#6,>!M.5@!

+6"9!),C0(9,!+6,>!9,,!+6,!*,0.E!02C5652"C!40+6,1!C5*".;!+5!)1".;!6"9!-0(;6+,1!)0CM!

65*,P!!'4!>5(!K10>E!6,!-"90KK,019P!!75Cj5!90"-!96,!@5(2-!),!9C01,-!"4!96,!,=,1!60-!+5!

92,,K!".!0!155*!025.,P!

! ! !

#6,!C5.=,.+!652-9!0!K15*".,.+!K20C,!".!+6,!C"+>!54!e(1"*0;(09P!!D22!+6,!

*5+5+0B"!-1"=,19!M.5@!@6,1,!"+!"9P!!D4+,1!0!@,,M!54!),".;!9,,.!5.!+6,!9+1,,+!@"+6!

A0-1,!IPE!)(>".;!41,96!4"96E!06jE!+5"2,+!K0K,1!0.-!5+6,1!C5.=,.+!.,C,99"+",9E!

,=,1>@6,1,!'!@02M,-!025.,!+5E!'!@5(2-!),!9+5KK,-!)>!>,22".;!*5+5C01!-1"=,19G!

FA0-1,C"+0v!!#,!22,=o!0!209!C01*,2"+09vf!SA0-1,C"+0!S+,1*!451!0!>5(.;!.(.TE!2,+!*,!

+0M,!>5(!+5!+6,!C5.=,.+TP!!D4+,1!0!@6"2,E!'!9+5KK,-!C201"4>".;!+60+!'!0*!.5+!0!.(.P!!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!^!:10@".;!)>!%2,.0!

! WW!

!

#6,!C5.=,.+!2",9!0+!+6,!5+6,1!,.-!54!+6,!/20L0!-,!D1*09E!0!+".>!C"1C2,!".!+6,!

C,.+,1!54!+5@.!@"+6!),.C6,9!5CC(K",-!)>!25=,19!0.-!@51M,19!S5.!+6,!-0>9!+6,!C"+>!

0..5(.C,9!0!9+1"M,E!@6"C6!"9!54+,.TP!!/0-1,!]E!0!>5(.;!40=51"+,!K1",9+!0*5.;!+6,!.(.9E!

@65!544,19!6"9!C60(44,(1!9,1="C,9!@6,.,=,1!+6,!.(.9!@0.+!+5!+0M,!0!4",2-!+1"KE!+52-!

*,!+60+!+6,!C51.,1!54!+5@.!@6,1,!+6,!C5.=,.+!"9!+6,!),9+!54!e(1"*0;(09R!+60+!".!0!

9*022!10-"(9E!"+!609!0.>+6".;!>5(!,=,1!.,,-!".!2"4,N!+6,!C,*,+,1>E!+6,!C5.=,.+E!+6,!

K1"95.E!0.-!+6,!-"9C5+6{8(,P!!!

#6,!5CC09"5.02!+,,.0;,1!)1,0M9!".!+5!+6,!C5.=,.+h9!P&,5(*N!0!201;,!;01-,.!

@"+6!0."*029!0.-!=,;,+0)2,9T!@6"2,!,=,1>5.,!"9!0+!C6(1C6!0.-!9+,029!0!C6"CM,.E!51!0!

*5.M,>E!)(+!@6,.!6,!"9!C0(;6+E!6,!"9!(9(022>!2,4+!".!+6,!K1"95.!451!0!4,@!-0>9!),451,!0!

.(.!+,229!+6,!;(01-9!"+!"9!5M0>!+5!2,+!6"*!;5E!09M".;!6"*!"4!6,!2,01.,-!6"9!2,995.P!!#6,!

155*!'!92,K+!".!451!*59+!54!+6,!+"*,!"9!+6,!155*!-10@.!5.!+6,!2,4+!54!+6,!-10@".;!

0)5=,E!(9(022>!1,9,1=,-!451!="9"+".;!.(.9!0.-!+6,!5CC09"5.02!40*"2>!*,*),19!@65!

C5*,!+5!="9"+!+6,!;"129P!!#6,!@".-5@9!01,!@55-,.!)019E!5K,.!+5!*598("+5,9E!+6",=,9E!

0.-!+6,!9".;".;!K10>,19!54!+6,!C25"9+,1,-!.(.9!0+!WGWY!,=,1>!*51.".;P!!!

Q09!O01*,2"+09E!09!+6,!+5@.!C0229!+6,!C5.=,.+!"9!+6,!K20C,!@6,1,!+5@.!452M!C5*,!+5!

;599"K!0.-!,BK1,99!@511>E!C5*K20".+9E!9,C1,+9!+615(;6!+6,!1,=52=".;!@".-5@!C022,-!

+6,!("5."P!!A0-1,!DE!+6,!K1"510!"9!".!C601;,!54!2"9+,.".;!+5!022!54!+6,!0)5=,P!!'+!"9!0295!

+6,!K20C,!+5!K(1C609,!"C,!C1,0*N!C5C5.(+E!9+10@),11>E!=0."220!0.-!C65C520+,P!!#5!)(>!

"C,!C1,0*!"+!"9!9"*K2,P!!e5(!1".;!+6,!),22!54!+6,!+51.5E!A0-1,!D!90>9!F0=,!*01j0!

K(1j9"*0fE!>5(!1,9K5.-!F9".!K,C0-5!C5.C,)"-5fE!>5(!K20C,!Yc!C,.+0=59!".!+6,!+51.5E!

! WY!

+(1.!"+!015(.-!0.-!90>!+6,!420=51!>5(!@5(2-!2"M,P!!#6,!Yc!C,.+0="+59!*0M,!+6,!+(1.E!

0.-!5.!+6,!X^c!4(22!-,;1,,9!+(1.E!+6,!9*022!C(K!54!"C,!C1,0*!"9!5.!+6,!5+6,1!9"-,P!!!

!

#6,1,!01,!9,=,.!*0".!01,09!".!+6,!C5.=,.+G!+6,!C6(1C6E!+6,!;(,9+!155*E!+6,!

C2099155*E!+6,!M"+C6,.E!+6,!6(,1+0E!+6,!C25"9+,1E!0.-!+6,!(K9+0"19!@6,1,!+6,!;"129!

9601,!5.,!201;,!155*!@6,1,!+6,>!92,,K!5.!)(.M),-9P!!!

!

#6,!$5(9,9!

d%1$Q"#,5$,'$P*6,5$+"8*5$6*'*'3$

d$H$P*+,$(P,$Q"\,5$("$0*2,$P"&','$[8B3$

_g&V1O$ai$

!

!

_!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!_!:10@".;!)>!A012,.,!

H5*,.!2,0=".;!+6,"1!65*,9E!,"+6,1!)>!451C,!51!)>!

+"8&.(*#E!609!02@0>9!K15-(C,-!,K"C!2"+,10+(1,!0)5(+!

C5*".;!54!0;,!0.-!@5*0.655-P!!#6,9,!;"129h!9+51",9!01,!

.5!-"44,1,.+N!)5+6!".!+60+!+6,!d5(1.,>!+6,>!,*)01M!5.!"9!

,K"CE!0.-!".!+60+!"+!"9!0.!,BK,1",.C,!+60+!+6,>!C5.+".(,!+5!

.0110+,N!4"C+"5.022>!0.-!1,02"9+"C022>N!+615(;65(+!+6,"1!

2"=,9!".!-"44,1,.+!C5.+,B+9P!!!

!

#6,1,!"9!0!1"C6!6"9+51>!54!2"+,10+(1,!)>!@5*,.!@65!60=,!

2,4+!65*,P!!#6,!0C+"="+",9!0.-!90*K2,9!54!+6,"1!@1"+".;!'!

K1,9,.+!".!+6,!1,9+!54!+6"9!)55M!01,!022!95*,@60+!1,20+,-!

+5!+6"9!"."+"02!d5(1.,>!54!2,0=".;!65*,!0.-!C5*".;!54!0;,!

".!+6,!C5.=,.+P!!

!

! W^!

!

!

!

'.!F#6,"1!%>,9!@,1,!H0+C6".;!I5-fE!+6,!C,.+102!C6010C+,1!]0.",E!2"M,!+6,!;"129!

54!%2!$5;01E!*5=,9!415*!+6,!65(9,!54!)"1+6G!+6,!65(9,!54!6,1!;10.-*5+6,1!0.-!@60+!

96,!022(-,9!+5!09!+6,!65(9,!54!+6,!2,;0C>!54!920=,1>P!!]0.",h9!d5(1.,>!0.-!9+1(;;2,!2",9!

".!+6,!40C+!60+!96,!+1",9!+5!C5.9+1(C+!0!65*,!+615(;6!*,.P!!D2+65(;6!96,!"9!+,09,-!

@"+6!+6,!+09+,!54!".-,K,.-,.C,E!"+!"9!8("CM2>!M"22,-E!),C0(9,!".!+6,!,.-E!022!+6,!65(9,9!

96,!*5=,9!".+5!@"+6!*,.!01,!*,.9h!65(9,9E!)("2+!0.-!M,K+!)>!*,.P!#6,9,!9+1(C+(1,9!

.,=,1!),C5*,!P,5'P!!#6,!5.2>!*5*,.+!96,!"9!60KK>!"9!".!+6,!+(*(2+(5(9E!(.9+0)2,E!

02@0>9!*5=".;!2"4,!96,!2,0-9!@"+6!#,0!O0M,E!@6,1,!K5=,1+>!0.-!1,9+2,99.,99!K1,=,.+!

+6,*!415*!,=,1>!)("2-".;!0!65*,P!!H60+,=,1!+6,>!)("2-!+60+!"9!C259,!+5!F65*,f!"9!

.,=,1!C5*K2,+,2>!*0."4,9+,-!".!0!9+0)2,!65(9,E!)(+!"+!"9!C5NC5.9+1(C+,-P!!H6,.!+6,>!

4".022>!9,++2,!".!0!+,.+!".!0!C0*K!@"+6!4,225@!*";10.+!9@0*K!@51M,19E!+6,1,!"9!0!6(;,!

6(11"C0.,E!@6,1,!#,0!O0M,!;,+9!10)",9E!0.-!]0.",!"9!451C,-!+5!9655+!6"*P!!

!'+!"9!0295!04+,1!+6"9E!+60+!96,!"9!0)2,!+5!1,+(1.!+5!+6,!C5**(."+>!54!%0+5.="22,E!

@5*0.!025.,E!+5!1,)("2-!0!2"4,!5.!6,1!5@.!+,1*9R!96,!609!,BK,1",.C,-!+1(,!25=,!

@6"C6!#,0!O0M,h9!-,0+6!609!965@.!+60+!+6,!95(1C,!54!+60+!25=,!"9!6,1!5@.!9,24E!0.-!

96,!*0>!4".022>!1,+(1.!+5!)("2-!0!65*,!54!6,1!5@.P!

'.!+6"9!@0>E!96,!,BK,1",.C,9!+61,,!*0d51!*5=,*,.+9G!2,0=".;!+6,!65(9,!54!

6,1!;10.-*5+6,1E!+6,!1,d,C+"5.!0.-!0)0.-5.*,.+!54!+6,!65*,9!54!6,1!6(9)0.-9!+5!

2,0-!0!2"4,!54!15*0.+"C!65*,2,99.,99!@"+6!#,0!O0M,E!0.-!+6,!1,+(1.!+5!0!K20C,!@6,1,!

.5!C5.4".".;!9+1(C+(1,!0@0"+9!6,1P!!'.!+6"9!@0>E!+6,!;"129!54!%2!$5;01!20!J(,.0!

! W_!

%9K,10.L0!45225@!0!9"*"201!+10d,C+51>!54!*5=,*,.+E!@6,1,!+6,>!*(9+!2,0=,!65*,!".!

51-,1!+5!-"9C5=,1!0!9,.9,!54!&,24!0.-!9,.9,!54!;"12655-!0.-!@5*0.655-P!!

!

'!@5.-,1!65@!*0.>!65*,9!01,!".!+6"9!O09"+0R!65@!*0.>!155*9!01,!".!+6"9!

155*!@6,1,!+6,>!;599"K!(.+"2!*51.".;E!@6,1,!+6,>!6"-,!C,22!K65.,9!+6,>!01,!.5+!

0225@,-!+5!60=,E!@6,1,!+6,>!9,.-!+,B+9E!4";6+9E!4022!092,,K!".!+6"9!9K0C,!+6,"1!9601,G!

65@!-5!022!+6,9,!65*,9E!022!+6,9,!155*9E!022!+6,9,!9+51",9E!4"+!".!+6"9!155*i!

\!

!

#6,!$5;01!20!J(,.0!%9K,10.L0!4(.C+"5.9!09!0!65*,G!@"+6!022!"+9!;659+9E!022!"+9!

@019E!022!"+9!;15@".;!K0".9E!+,.9"5.9E!25=,E!0.-!022!"+9!2"4,P!!J(+!+6,!K20C,!+6,>!

,.-,01".;2>!C022!@*$9*'1(*E!"9!5.,!+6,>!@,1,!451C,-!+5!)("2-R!5.,!+6,>!@,1,!451C,-!+5!

2,+!+6,"1!2"4,!0.-!9+51",9!;15@!".9"-,!"+9!@0229P!!#6,>!C5*,!@"+6!+6,!*,*51>!54!K09+!

65*,9P!!e,+!9+"22E!".!"+9!9*022!,.C259,-E!C25"9+,1,-!9K0C,!54!^!155*9E!0!;01-,.!54!

0."*029!0.-!*(-!5=,.9E!0.-!0!+6".!@022!+60+!9,K010+,9!;"129!415*!.(.9E!C25"9+,1,-!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!\!-10@".;!)>!75Cj5!

! W\!

0.>@6,1,!415*!+@5!@,,M9!+5!+61,,!-,C0-,9R!"+!"9!9+"22!0!K20C,!+60+!;"=,9!+6,*!

".9K"10+"5.E!9+51",9E!,BK,1",.C,9R!9"*K2,!5.!+6,!5(+9"-,E!>,+!0!20)>1".+6!+5!*5=,!+6,"1!

"*0;".0+"5.!+615(;6!415*!@"+6".P!

!

D.-!+6,!9+51",9!K15-(C,-!6,1,!".!+6,!9K0C,E!01,!0295E!2"M,!".!0.>!C5**(."+>!

51!9K0C,!54!K,5K2,!@65!60=,!"**";10+,-!51!*5=,-E!+6,!9+51",9!54!K09+!65*,9E!54!

K20C,9!54!51";".P!!:,!C0-0!2(;01E!60>!(.!51j;,.P!

!

!

9! !

!

'!),;0.!+6,!4"19+!C2099!@"+6!0!C522,C+"=,!*0KE!@6,1,!+6,>!+10C,-!+6,"1!15(+,9!0.-!

+10=,2!*,0.9!5.!+@5!201;,!K59+,1!)501-9P!!351!+6"9!0C+"="+>E!'!60-!+61,,!9,+9!54!0C1>2"C!

K0".+9E!)1(96,9!54!022!9"L,9!0.-!+,B+(1,9E!0.-!+@5!201;,!K59+,1!)501-!K0K,19E!+0K,-!

+5;,+6,1!5.!+6,!)0CMP!!'!+52-!+6,*!+60+!+6,"1!+09M!@09!+5!C522,C+"=,2>!-10@!0!*0K!54!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Z!/"C+(1,!+0M,.!)>!*,E!](2>!W+6E!VcUU!

! WZ!

/,1(E!@6"C6!@5(2-!".C2(-,!+6,"1!65*,!="220;,9E!+6,!C5.=,.+E!+6,!1"=,19!+6,>!+55M!+5!

011"=,!0+!+6,!C5.=,.+E!0.-!0.>!-,+0"2!+6,>!@0.+,-!+5!0--P!!'!C022,-!"+!,8$0*Q*$

,0"61".*8E!,.C5(10;".;!+6,*!+5!*0M,!+6,!*0K!09!K,195.02!09!K599")2,P!

We began with a discussion on maps. I asked them if they thought the

maps they saw at school represented them, and if they could see themselves in

those maps. A few were silent, and then several began shaking their heads,

saying, “no, nos reprenta”. When I asked why, Xuxi said, “porque no esta la

casita de mi abuelita”.

!

10!

!

#6,!5.2>!1(2,9!@,1,!+60+!+6,>!C5(2-!.5+!(9,!0.>!544"C"02!*0K!451!;("-0.C,E!0.-!+60+!

+6,>!60-!+5!-,C"-,!0*5.;!+6,*9,2=,9!65@!+5!(9,!+6,!9*022!9K0C,!54!+@5!K59+,1!

)501-!K0K,19P!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 11!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Uc!/"C+(1,!+0M,.!)>!*,E!](2>!Y+6!UU!](2>!Y+6!

! Yc!

)N?!:AOO?F>CV?!&<P!

!

!

12!

!

!!!H$(P1.2$'P,$8".;,#$("$#\,88$1.$(P,$P"&',$0B$'1?81.;'$*.#$H$;5,\$&Q$1.$*88$(P,$#*B'$"[$

P,5$81[,O$*.#$1.$'"0,$\*B'O$(P,$["&5$"[$&'$'(188$#\,88$1.$"&5$6P18#P""#$P"0,O$6*55B$1($\1(P$

&'O$812,$(&5(8,'$6*55B$(P,15$P"0,'j$

$ $ $ _4*($%"5*O3$)"&',$"[$)"&','3$

$

%2!$5;01!20!J(,.0!%9K,10.L0!"9!.5+!0!K20C,!54!51";".!451!0.>!54!+6,!;"129!51!

.(.9!@65!C(11,.+2>!2"=,!6,1,P!!?5.,!@,1,!)51.!6,1,!51!,=,.!C259,!+5!+6,!+5@.E!0.-!

*0.>!60=,!,BK,1",.C,-!0!9";."4"C0.+!d5(1.,>!+60+!2,-!+6,*!6,1,P!!#65(;6!*0.>!54!

+6,!;"129!S0.-!;"129!+(1.,-!.(.9T!@5(2-!C5.9"-,1!+6,*9,2=,9!+5!60=,!;15@.!(K!

@"+6".!+6,!C5.=,.+!@0229R!"+!"9!.5+!+6,"1!4"19+!65*,P!!#6,>!9601,!+6,!*,*51>!54!0!

65*,!54!51";".E!0!4"19+!65*,E!0!65*,!54!40*"2>R!0.-!@"+6!+60+E!0.5+6,1!;,5;10K6>!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!UV!](2>!W+6!

! YU!

+60.!+6,!5.,!+6,!C5.=,.+!9"+9!5.P!!H6,+6,1!+6,>!60=,!011"=,-!+615(;6!),".;!

+10.9"+"5.,-!415*!9,=,102!*"99"5.01>!65*,9!4"19+E!2(1,-!".+5!+6,!)";;,1!C"+",9!)>!

+659,!@65!9,01C6!="220;,9!451!>5(.;!;"129!@"22".;!+5!+0M,!0.>!d5)E!9,.+!),C0(9,!+6,!

40*"2>!C5(2-!.5+!04451-!+6,"1!-0(;6+,19E!51!),C0(9,!+6,"1!40*"2",9!@0.+,-!0!),++,1!

,-(C0+"5.!451!+6,"1!-0(;6+,19R!'!),;".!@"+6!0!C,.+102!.5+"5.!54!-"9K20C,*,.+P!!#6,>!

01,!-"9K20C,-!),C0(9,!K52"+"C02!0.-!,C5.5*"C!0.-!95C"02!C"1C(*9+0.C,9!609!*0-,!"+!

95!+60+!+6,!+5@.9!".!@6"C6!"*K5=,1"96,-!".-";,.5(9!;"129!01,!)51.E!C0..5+!652-!

+6,*E!0.-!95!5+6,1!401!0@0>!K20C,9!+1>P!!!

$5@,=,1E!+6,!,B"9+,.C,!54!0!4"19+!65*,E!51!K20C,E!54!51";".!C0..5+!),!*,1,2>!

9"*K2"4",-!51!C5.-,.9,-!-5@.!+5!+6"9!+,1*!S-"9K20C,*,.+T!54!+1,*,.-5(9!K52"+"C02!

@,";6+P!!J,C0(9,!@"+6".!+6"9!C,.+102!+6,*,!54!-"9K20C,*,.+!+6,1,!,B"9+9!0!6(.-1,-!

-"44,1,.+!".-"="-(02!1,095.9E!*,*51",9!0.-!9+51",9!+60+!,0C6!;"12!@1"+,9!54!+6"9P!!'4!+6,!

;,5;10K6"C02!-"9+0.C,!+60+!+6,9,!;"129!9K0.!415*!65*,!54!51";".!+5!$5;01!20!J(,.0!

%9K,10.L0E!+6,.!+6,!C5.C,K+(02"L,-!-"9+0.C,!54!+6,9,!;,5;10K6",9!"9!,=,.!)";;,1E!"4!

@,!45C(9!5.!+6,!9+51",9!+60+!+6,>!.0110+,!015(.-!+6,*P!

D2+65(;6!'!@0.+,-!+6,*!+5!@1"+,!09!*(C6!54!+6,"1!5@.!".-"="-(02!,BK,1",.C,E!

+6,1,!01,!C,1+0".!+6".;9!+60+!".!C,1+0".!@0>9!*0M,!,0C6E!K01+!54!0!C522,C+"=,!9+51>!54!

+6,9,!9"B+,,.!;"129P!!'.!+6"9!0C+"="+>E!0!C522,C+"=,!*0K!54!,0C6!".-"="-(02!65*,!54!51";".!

0.-!+10=,2!15(+,!+0M,.!+5!+6,!$5;01E!="9(022>!1,K1,9,.+9!+6,!)51-,19!+6,>!C1599,-!+5!

011"=,!0+!+6,!C5.=,.+P!!!!

!

! YV!

13!

!

D9!'!-"9C(99!20+,1!".!+6"9!C60K+,1E!0+!+6,!90*,!+"*,!+60+!+6,>!="9(022>!1,K1,9,.+!

+6,"1!,BK0.9"=,!;,5;10K6"C02!d5(1.,>9!0.-!C1599".;9!415*!65*,!+5!$5;01E!+6,>!01,!

0295!="9(022>!1,K1,9,.+".;!+6,"1!d5(1.,>9!".+5!4,*02,!*0+(1"+>E!),C0(9,!54!+6,!2".M9!

+6,>!*0M,!),+@,,.!+6"9!d5(1.,>!0.-!+6,"1!+10.9"+"5.!415*!;"12655-!".+5!

@5*0.655-P!!#6,!1,095.!+6,!C5.=,.+!C659,!+5!)("2-!0!65(9,!451!;"129!"9!.5+!),C0(9,!

54!0.!,*5+"5.02!K1,N-"9K59"+"5.!+5!;"129R!"+!"9!),C0(9,!-0(;6+,19!01,!5(1!*59+!

451;5++,.!*,*),19E!0.-!;"129!5(1!209+!5KK1,99,-!C2099P!!

14!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!UX!](2>!Y+6E!VcUU!UW!:10@".;!)>!A0.(,20!

$5@!-5,9!+6"9!C522,C+"=,!*0KE!-10@.!

@"+6".!+6,!C25"9+,1,-!@0229!54!0!C5.=,.+E!

C5.+1")(+,E!451*!K01+!54E!51!C5.+,9+!

.0+"5.02!.0110+"=,9!54!6"9+51>!0.-!

*";10+"5.i!!#6,!C522,C+"=,!*0K!;"=,9!+6,*!!

! YX!

0!C1,0+"=,!K1,9,.C,!".!+6"9!1,;"5.E!0.-!="9(02"L,9!+6,!+10d,C+51>!+60+!2,-!+6,*!+5!

@6,1,!+6,>!01,!.5@P!!H60+!"9!".+,1,9+".;!"9!+60+!*,*51>!.,=,1!40"29!+6,*R!+6,>!

1,*,*),1!".!;1,0+!-,+0"2!+6,!960K,9!54!1"=,19!+6,>!C1599,-!".!2,.;+6E!+6,!.0*,9!54!

+5@.9!+6,>!="9"+,-!025.;!+6,!@0>E!+6,!20>N5(+!54!+6,"1!.0+"=,!C5**(."+",9E!0.-!09!5.,!

;"12!K5".+,-!5(+E!+6,!@0>!+6,!d(.;2,!02@0>9!C60.;,9!960K,!0.-!C52519P!

:10@.!0.-!.0110+,-!415*!+6,!K,195.02!K,19K,C+"=,!54!9"B+,,.!;"129E!+6"9!

C522,C+"=,!*0K!;"=,9!0!-"44,1,.+!="9(02!54!+6"9!1,;"5.E!09!@,22!09!0!K01+"C(201!6"9+51>!54!

;"129P!

D9!'!*,.+"5.,-!0)5=,E!>5(.;!@5*,.!2,0=".;!+6,"1!65*,9!0.-!C5**(."+",9!54!

)"1+6!609!),,.!K15-(C".;!),0(+"4(2!2"+,10+(1,!022!015(.-!+6,!@512-!451!0!25.;!+"*,P!!

Q"M,!]0.",!S+6,!4"C+"5.02!C6010C+,1!@65!".9K"1,-!*,!+5!C522,C+!;"129h!9+51",9!".!+6,!4"19+!

K20C,T!".!$(19+5.h9!.5=,2E!@65!609!+5!2,0=,!65*,!+5!4".-!6,19,24E!+6,!;"129!54!

e(1"*0;(09!(9,!+6,"1!,K"C!d5(1.,>E!-"9+0.C,9!+10=,22,-!0.-!)51-,19!C1599,-!09!+6,!

C,.+102!K25+!54!+6,"1!C5*".;!54!0;,!9+51",9!0.-!K5,+1>!0)5(+!@5*0.655-P!

!

#6,"1!.0110+"=,9!0.-!*0K!965@!+60+!@6,.!@,!2,0=,!65*,E!@,!2,0=,!*51,!

+60.!+6,!@0229!+60+!,.C259,!(9P!!Q,0=".;!65*,E!451!]0.",E!@09!2,0=".;!0!;,.,10+"5.!54!

41,,-!920=,9!@65!9+"22!0C+,-!2"M,!920=,9E!09!]0.",!,BK20".9P!Q,0=".;!65*,!609!.,=,1!

),,.!9"*K2,!.51!1,-(C,-!+5!5.,!*,0.".;P!

!

D.-!2"M,!+6,9,!C6010C+,19E!1,+(1.".;!65*,!"9!54+,.!-"44"C(2+!0.-!9,2-5*P!!'.!

+6,!C09,!+60+!+6,>!-5!1,+(1.!65*,E!09!+6,9,!;"129!)5+6!95*,+"*,9!,BK,C+!+6,>!@"22!

0.-!-1,0*!+6,>!@5.h+R!+6,>!1,+(1.!04+,1!,BK,1",.C".;!0!+10.9451*0+"5.!S09!+6,>!

! YW!

-,9C1"),!"+TP!!&5*,!0.+"C"K0+,!+6,"1!1,+(1.!".!+,1*9!54!"*K15=".;!+6,"1!C5**(."+",9R!

)("2-".;!C2,0.!@0+,1!".4109+1(C+(1,E!6,2K".;!K,5K2,!M.5@!+6,"1!1";6+9E!,+CP!!?5!;"12!

,BK1,99,-!+6,!-,9"1,!+5!1,+(1.!+5!*011>!0.-!60=,!C6"2-1,.P!!D9!5.,!;"12!90"-E!2,0=".;!

@09!0!@0>!+5!965@!+60+!96,!@09.h+!d(9+!*,0.+!+5!60=,!C6"2-1,.R!+60+!96,!C5(2-!-5!

5+6,1!"*K51+0.+!+6".;9!4"19+P!!

!

'.!+6"9!@0>E!+6"9!*0K!0.-!+6,9,!0C+"="+",9!0225@!+6,*!+5!;"=,!*,0.".;!+5!+6,"1!

,BK,1",.C,9!0.-!;"=,!+6,*!0!9K0C,!+5!C1,0+,!+6,"1!5@.!K(1K59,9!451!+6,*9,2=,9P!

D4+,1!0!4,@!*".(+,9!54!-"9C(99"5.E!75Cj5!0.-!0!4,@!5+6,1!52-,1!;"129!-,C"-,-!+60+!+6,>!

@5(2-!-"="-,!+6,!*0K!)>!+659,!@65!+10=,22,-!*59+2>!)>!1"=,1!0.-!+659,!@65!

+10=,22,-!95*,@60+!)>!20.-P!!#60+!@0>E!+6,!;15(K!@65!9K,.+!-0>9!5.!1"=,1)50+9!

@5(2-!-,9";.!+6,!20>5(+!54!5.,!9"-,E!0.-!="C,!=,190P!

D22!54!+6,*!1,*,*),1,-!51!"*0;".,-!+6,"1!65*,+5@.9!0.-!+10=,2!15(+,9!@"+6!

;1,0+!-,+0"2P!

!

!

UY!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!UY!/"C+(1,9!+0M,.!)>!*,E!](2>!VcUU!

!

! YY!

'!K20C,!+6"9!0C+"="+>!4"19+!),C0(9,!"+!965@9!+6,!C522,C+"="+>!54!+6,"1!,BK,1",.C,E!

51!54!@60+!"9!K15-(C,-!"4!@,!C5.C,"=,!54!5(1!,BK,1",.C,9!09!0+!2,09+!K01+"022>!

C522,C+"=,P!!&65@.!6,1,!01,!+6,"1!K20C,!54!51";".E!+6,"1!C5**(."+",9E!+6,"1!,012>!

;"12655-9E!+6,"1!+10=,2!15(+,9!0.-!+6,"1!C522,C+"=,!-,9+".0+"5.!+5!0!K20C,!+60+!652-9!0!

K5@,14(2!-"9+".C+!*,+0K651!".!+6,!,*,1;".;!2"=,9!54!,0C6P!!#6,1,!"9!0!1"C6!@51-2,99!

9+51>!5.!+6"9!*0KE!022!54!@6"C6!45225@9!+6"9!C60K+,1P!!'.!+6,"1!,*,1;".;!@5*0.655-9E!

+6,"1!65*,!+5@.9E!,BK,1",.C,!54!+10=,2!0.-!C5.=,.+!9(1;,!09!K5@,14(2!*,+0K6519E!

@6,+6,1!@1"+".;!4,*02,NC,.+,1,-!*>+69E!*,.9+1(0+"5.!.0110+"=,9E!"-,.+"+>!K51+10"+9!

51!5-,9!+5!25=,-!0.-!60+,-!)5->!K01+9P!

!

A51,!+60.!d(9+!+6,!,BK,1",.C,!54!9601".;!+6"9!O09"+0R!+6,>!0295!9601,!+6,!

,BK,1",.C,!54!0!K09+!65*,R!54!2,0=".;!5.,!65*,N5.,!;,5;10K6>N!451!0.5+6,1P!!&5d0!

90>9G!!

D2+65(;6!95*,!*0>!+6".M!+6"9!+5!),!+55!5)="5(9!+5!*,.+"5.E!+6,!9K0+"02"+>!54!

6(*0.!2"4,!*(9+!),!".+,1K1,+,-!0.-!(.-,19+55-!09!4(.-0*,.+022>E!415*!+6,!

9+01+E!0!C5*K2,B!95C"02!K15-(C+E!0!C522,C+"=,2>!C1,0+,-!0.-!K(1K59,4(2!

C5.4";(10+"5.!0.-!95C"02"L0+"5.!54!9K0C,!+60+!-,4".,-!5(1!C5.+,B+(02!60)"+0+E!

+6,!6(*0.!0.-!6(*0."L,-!;,5;10K6>!".!@6"C6!@,!022!2"=,!5(+!5(1!2"=,9P!!&(C6!

95C"02"L,-!2"=,-!9K0C,E!C5.9+1(C+,-!5(+!54!K6>9"C02!0.-!.0+(102!9K0+"02!451*9E!

*,.+022>!0.-!*0+,1"022>!".+,1+@".,9!@"+6!5(1!95C"02"L,-!2"=,-!+"*,9!+5!C1,0+,!

5(1!)"5;10K6",9!0.-!;,5N6"9+51",9fS=,,21.;$="61*8$^&'(16,O$UZT!!!

#6,"1!;,5;10K6",9G!+659,!2,4+E!+659,!+10=,22,-!+615(;6!0.-!+659,!011"=,-!0+E!K20>!0!

201;,!152,!".!+6,"1!9,.9,!54!+6"9!9601,-!K20C,P!

!

! Y^!

'.!+6"9!@0>E!+6"9!C522,C+"=,!*0K!1,K1,9,.+9!+6,"1!;,56"9+51",9E!@"+6!,2,*,.+9!

54!*,*51>!0.-!"*0;".0+"5.!+5@01-!+6,"1!9K0+"02!K09+!0.-!K1,9,.+P!!&5d0!0--1,99,9!

+6,!K5@,1!54!"*0;".0+"5.!".!+6,!C1,0+"5.!54!;,56"9+51",9G!F$(*0.!2"4,!"9!

C5.9,8(,.+2>!0.-!C5.9,8(,.+"022>!9K0+"02E!+,*K5102E!0.-!95C"02E!9"*(2+0.,5(92>!0.-!

".+,10C+"=,2>!1,02!0.-!"*0;".,-P!![(1!;,5;10K6",9E!2"M,!5(1!6"9+51",9E!+0M,!5.!

*0+,1"02!451*!09!95C"02!1,20+"5.9!),C5*,!9K0+"02!)(+!01,!0295!C1,0+"=,2>!1,K1,9,.+,-!

".!"*0;,9E!"-,09E!0.-!"*0;".".;9f!SU\TP!

! Y_!

16

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!U^!A01(E!UYE!2,++,1!@1"+".;!0C+"="+>!

! Y\!

Chapter 3 / Capítulo 3

“Tu Silencio esta como si el Árbol no se

Moviera”:

An Ode to the Hometown I left Behind

!

!

!

Warm-up Calentamiento

-1 metaphor -1 metáfora

-2 similes -2 símil

-2 words in another language -2 palabras en otra idioma que

hablas

you speak, -Nombrar un lugar físico en

tu pueblo

-to name one physical place in that town.

!

! YZ!

$5*,+5@.9E!O5.=,.+9E!0.-!+6,!7"=,19!".!),+@,,.!

!

F'4!10-"C02!A5L0*)"8(,!9K,0M9!/51+(;(,9,E!!

+6,!9";."4"C0.C,!54!+6"9!"9!+60+!/51+(;(,9,!"9!+6,!!

*,-"(*!+615(;6!@6"C6!A5L0*)"8(,!"9!"*0;".,-f!!

! NJ,.,-"C+!D.-,195.E!F'*0;".,-!O5**(."+",9f!UZZU!

!

!

!

#6,!1"=,1!"9!0!95(1C,!54!2"4,!0.-!*>+6525;>!".!+6"9!1,;"5.E!0.-!K20>9!0!201;,!

152,!".!*,*51>!0.-!"*0;".0+"5.P!!'.!+6,!45225@".;!+61,,!*0".!0C+"="+",9N!5-,9!+5!

65*,+5@.9E!K5,*9!0)5(+!2,0=".;!65*,!0.-!+10=,22".;E!0.-!".=,.+,-!*>+69!@"+6!+6,!

C1,0+"5.!54!4,*02,!K15+0;5."9+9N+6,!1"=,1!02*59+!02@0>9!K20>9!0!C,.+102!152,!".!+6,!

@1"+".;P!!'.!0!9,.9,E!"+!"9!+6,!5.,!C5.9+0.+!),+@,,.!+6,"1!65*,+5@.9!0.-!

e(1"*0;(09G!+6,!1,=52=".;!54!0!C5**(."+>!015(.-!"+9!1"=,1!95(1C,P!!!

#6,!*59+!"*K51+0.+!K20C,9!C5.d(1,-!".!+6,9,!0C+"="+",9!01,!+6,"1!K20C,9!54!

51";".E!+6,!1"=,1E!0.-!+6,"1!K20C,9!54!011"=02P!!#6,!,B0*K2,9!415*!+6"9!0C+"="+>!0295!

1,=,02!0.-!6"--,.!9+51>!54!1,;"5.02!*";10+"5.R!965@".;!+6,"1!65*,+5@.9p51";".9!09!

0!K20C,!54!.59+02;"0E!0.-!+6,!C5.=,.+!09!0!K20C,!54!+10.9"+"5.E!02@0>9!@"+6!0!1"=,1!".!

),+@,,.P!

#6,!(."8(,.,99!54!+6,"1!9"+(0+"5.!"9!+60+!+6,>!01,!.5+!"**";10.+9R!>,+!.,"+6,1!

"9!"**";10+"5.!.51!Q0+".!D*,1"C0.!2"+,10+(1,!C259,-!0.-!1";"-!C0+,;51",9P!!'.!0!9,.9,E!

@60+!+6,>!@1"+,!609!,2,*,.+9!54!*";10+51>!2"+,10+(1,!0.-!1,=,02!9"*"201!9,.+"*,.+9!

! ^c!

+60+!"**";10+"5.!K15-(C,9P!!Q"M,!*(C6!54!2"+,10+(1,!54!-"9K20C,*,.+E!@60+!"9!

,BK1,99,-!"9!0!-,,K!.59+02;"0!0.-!25=,!54!+6,!65*,+5@.E!09!@,22!09!0!-"44"C(2+>!".!

1,+(1.".;P!!#6,>!01,!+6(9E!2"M,!*59+!*";10.+9E!+10KK,-!95*,@6,1,!".!0!C5.C,K+(02!

0.-!;,5;10K6"C!*"--2,G!9+10--2".;!9,=,102!)51-,19!)5+6!@"+6".!0.-!@"+65(+!+6,*P!!!

D.-!2"M,!*59+!*";10+51>!2"+,10+(1,E!+6,>!K15=,!+60+!5.,!C0.!9+"22!60=,!0!25=,!0.-!

.59+02;"0!451!0!K20C,!".!*51,!+60.!5.,!20.;(0;,P!!#6,!;"129!+52-!*,!+60+!5.!+6,!101,!

0.-!9K510-"C!5CC09"5.9!+6,>!1,+(1.!65*,E!+6,>!01,!*0-,!4(.!54!451!2"=".;!".!F+6,!)";!

C"+>fE!>,+!6,1,!".!e(1"*0;(09!@6,.!+6,>!;5!+5!+6,"1!9C65529E!+6,>!01,!*0-,!4(.!54!451!

+6,"1!".-";,.5(9.,99!S,=,.!+65(;6!022!+6,!5+6,1!9+(-,.+9!01,!".-";,.5(9E!)(+!+6,>!

-"-!.5+!;15@!(K!".!9*022!="220;,9TP!

#6,!45225@".;!0C+"="+",9!0.-!+6,!2"+,10+(1,!+6,>!K15-(C,-!9K,0M!+5!".-";,.5(9!

Q0+".!D*,1"C0!09!@,22!09!0!1,;"5.02!0.-!;,.-,1,-!Q0+".!D*,1"C0.!C5.+,B+P!!

7,;"5.022>E!+6,!1"=,1!"9!)5+6!@60+!+0M,9!+6,*!)0CM!65*,E!".!*,*51>!0.-!0C+(02"+>E!

0.-!@60+!+0M,9!+6,*!0@0>!415*!65*,P!!'+!"9!+615(;6!+6,!1"=,1!+60+!+6,>!2,0=,!65*,E!

0.-!+615(;6!+6,!1"=,1!+60+!+6,>!1,C5.9+1(C+!+6,"1!*,*51>!54!65*,!0.-!+10=,2P!!#6,!

1"=,1!"9!1,K1,9,.+,-!.5+!5.2>!09!0!95(1C,!54!+10=,2!0.-!2"4,!".!+6,!K5,*9!0)5(+!+6,"1!

65*,+5@.9!0.-!*,*51>!54!+10=,2R!)(+!"+!"9!0295!0!K20C,!54!*>+6"C02!0.-!"*0;".0+"=,!

+10.9451*0+"5.!".!+6,!".=,.+"5.!54!@5*0.NC,.+,1,-!2,;,.-9P!!'.!+6,"1!".=,.+,-!

2,;,.-9E!+6,!*>+6525;>!0.-!4(.C+"5.!54!+6,!1"=,1!K20>!0!201;,!152,!".!+6,"1!C5*".;!54!

0;,!0.-!C5.9+1(C+"5.!54!@5*0.655-E!1,K1,9,.+".;!+6,!1"=,1!09!0!;1,0+!95(1C,!54!

M.5@2,-;,!0.-!+10.9451*0+"5.P!

!

$

! ^U!

$

<&$'18,.61"$,'(*$6"0"$'1$,8$J5?"8$."$',$0"+1,5*ak:$

$$$$$$$D.![-,!+5!+6,!65*,+5@.!'!2,4+!),6".-!

!

F<.0!5-0!,9!(.!K5,*0!-,-"C0-5!0!02;5!8(,!0*09!+0.+5!8(,!.5!K5-,9!52="-01f!

N759"+0E!UV!

!

!

759"+0!+52-!*,!+60+!5.,N-0>!96,!65K,9!+5!;5!)0CM!+5!6,1!65*,+5@.E!)(+!96,!

609!.5!-,9"1,!+5!9+01+!0!40*"2>!>,+P!!$,1!0(.+!+52-!6,1!+60+!96,!965(2-!),C5*,!0!

20@>,1E!0.-!.5@!96,!609!9,+!6,1!*".-!+5!),!5.,P!!'4!'!;5!)0CM!+5!*>!65*,+5@.E!96,!

90>9E!"+!@"22!),!09!0!20@>,1!95!+60+!'!C0.!6,2K!022!+6,!K,5K2,!'!M.5@P!!!

H6,+6,1!+6,!;"129!"*0;".,!1,+(1.".;!+5!+6,"1!65*,+5@.9!09!20@>,19E!-5C+519E!

+,0C6,19E!51!d(9+!+5!="9"+R!+6,>!022!9601,!+60+!65K,G!!+60+!5.,!-0>!+6,>!@"22!1,+(1.E!

+65(;6!09!-"44,1,.+!0.-!+10.9451*,-!K,5K2,P!!D9!A01(!90"-E!Fe5!9j!=5>!0!1,;1,901!0!*"!

K(,)25E!K,15!C(0.-5!9,0!+5-0!(.0!9,k51"+0fP!!D.-!@6,+6,1!+6,>!2,4+!+6,"1!65*,+5@.9!

".!-,9K,10+,!.,C,99"+>!51!".!9,01C6!54!,-(C0+"5.!0.-!96,2+,1E!'!4".-!0!951+!54!25=,!0.-!

.59+02;"0!,BK1,99,-!451!+6,!K20C,!+60+!10"9,-!+6,*P!!'.!+6"9!@0>E!*0.>!54!+6,!;"129!

=",@!+6,"1!65*,+5@.!09!+6,!K20C,!+60+!10"9,-!+6,*E!0.-!+6,!C5.=,.+!09!+6,!K20C,!+60+!

*0M,9!+6,*!@5*,.P!!J5+6!,8(022>!*5.(*,.+02!".!+6,"1!2"=,9!0.-!".!+6,!.0110+"=,9!

+6,>!C1,0+,!0)5(+!+6,"1!2"=,9P!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!U_!315*!0!K5,*!@1"++,.!)>!Q(L!

! ^V!

?59+02;"0!,9K,C"022>!K20>9!0!201;,!152,!".!+6"9!.,B+!0C+"="+>E!F[-0!0!*"!/(,)25fP!!!

?59+02;"0!"9!0!4,,2".;!+60+!"9!C5.9+0.+!+615(;65(+!+6,"1!@51ME!,9K,C"022>!+615(;6!

,BK1,99".;!0.!*F"5*.M*!+5!1,+(1.P!

!

#6,!$5;01!"9!+6,!5.2>!K20C,!@6,1,!+6,>!4,,2!C5*451+0)2,!+02M".;!0)5(+!+6,"1!

65*,+5@.9!0.-!K20C,9!51!51";".E!)(+!,=,.!+6"9!609!+0M,.!+"*,!+5!)("2+!+6,!+1(9+!451P!!

#6,!;"129!01,!101,2>!09M,-!0)5(+!+6,"1!65*,+5@.9!0+!9C6552P!!#6,>!60=,!,=,.!

,BK1,99,-!,*)011099*,.+!".!+02M".;!0)5(+!@6,1,!+6,>!01,!415*E!),C0(9,!+6,>!90>!

*59+!K,5K2,!0+!9C6552!@"22!*0M,!4(.!54!+6,*!0.-!09M!+6,*!9+(K"-!8(,9+"5.9P!!#6,>!

C011>!+6,!*,*51>!54!+6,"1!65*,+5@.!02*59+!2"M,!0!9,C1,+R!95*,+6".;!5.2>!+5!-1,0*!

0)5(+!0.-!1,*,*),1!-(1".;!0.!5CC09"5.02!K65.,!C022!415*!65*,P!!#615(;6!+6"9!

K15C,99E!+6,>!90>!+60+!+6,>!0295!),;".!+5!451;,+!+6,!20.;(0;,!9K5M,.!0+!65*,P!!

:,9K"+,!+6"9E!+6,!;"129h!-"9+".C+!65*,+5@.9N@6,+6,1!2,4+!*5.+69!0;5!51!>,019!0;5N!

01,!K1,9,.+!".!+6,"1!@1"+".;E!@6,+6,1!+615(;6!*,+0K651!51!,BK2"C"+2>P!!#6,!0C+"="+>!

+5-0>!1,=52=,-!015(.-!1,*,*),1".;!+6,"1!65*,+5@.!0.-!;"=".;!"+!"*K51+0.C,!".!

+6,"1!K1,9,.+!2"4,P!!D4+,1!1,0-".;!/0)25!?,1(-0h9!FD2+(109!-,!A0C6(K"C6(f!S@*$

@*0Q*5*$,.$8*$<1,55*O$UZZUTE!+6,>!5K,.,-!(K!+6,"1!"*0;".0+"5.!0.-!*,*51>!54!+6,!

K20C,9!0.-!20.-9C0K,9!+60+!+6,>!60=,!+10=,22,-!+615(;6!0.-!+60+!+6,>!C5*,!415*P!!'!

C659,!?,1(-0h9!K5,*!),C0(9,!54!"+9!(9,!54!9"*"2,9E!*,+0K6519E!0.-!@51-9!".!

".-";,.5(9!20.;(0;,9!(9,-E!022!54!@6"C6!'!09M,-!+6,*!+5!K"CM!5(+P!!!!

!

D4+,1!1,0-".;!+6,!K5,*!0.-!-"9C(99".;!40=51"+,!51!".+,1,9+".;!@51-9!0.-!

+6,*,9E!'!09M,-!+6,*!+5!@1"+,!0!K5,*!0)5(+!+6,"1!65*,+5@.9P!D+!0!>5(.;!0;,E!+6,>!

! ^X!

*0M,!0!*0d51!d5(1.,>E!.5+!5.2>!,*5+"5.02!".!+60+!+6,>!2,0=,!+6,"1!65*,+5@.9E!

40*"2",9!0.-!20.;(0;,9E!)(+!0295!0!K6>9"C02!5.,E!C1599".;!=01"5(9!1"=,19!5=,1!-0>9E!

0.-!C1599".;!9,=,102!;,5NC(2+(102!)51-,19P!!#6,>!*0-,!0!*0K!54!+6,"1!C5(.+1>!09!

+6,>!,BK,1",.C,!"+!SO60K+,1!VTE!".C2(-".;!+6,!K20C,9!+6,>!60=,!),,.E!+6,!K20C,9!+60+!

10"9,-!+6,*E!0.-!+6,!15(+,9!+615(;6!@6"C6!+6,>!+10=,22,-P!!#6"9!5-,N@1"+".;!0C+"="+>!

45C(9,-!*51,!,BK2"C"+2>!5.!+6,!65*,!+5@.!"+9,24P!!'.!+6,!K5,*E!'!09M,-!+6,*!+5!(9,!

+6,!45225@".;G!!

U!*,+0K651!

V!9"*"2,9!

V!@51-9!".!0.5+6,1!20.;(0;,!+6,>!9K,0ME!0.-!!

+5!.0*,!5.,!K6>9"C02!K20C,!".!+60+!+5@.P!

!!

#6,>!9,,*,-!0!2"++2,!5=,1@6,2*,-!)(+!,BC"+,-!+5!@1"+,!0.!5-,!+5!+6,"1!

65*,+5@.P!!#6,>!+02M,-!0*5.;!+6,*9,2=,9E!;"=".;!,0C6!5+6,1!"-,09E!09M".;!@60+!+6,!

5+6,1!@"22!@1"+,E!0.-!*0.>!C5K>".;!+6,!4"19+!2".,!415*!?,1(-0h9!K5,*P!!e,99"C0E!0!

1,20+"=,2>!8(",+!;"12E!9+55-!(K!0.-!90"-E!!

F>5!=5>!0!,9C1")"1E!gD2+(109!-,2!O5.=,.+5hE!0.-!+6,>!022!20(;6,-P!

?,1(-0h9!K5,*E!+65(;6!.5+!9+1"C+2>!".!5-,!451*E!*0".2>!9,1=,-!09!0.!,B,1C"9,!".!

"*0;".0+"5.E!.5+!5.2>!451!"+9!C1,0+"="+>!0.-!K20>!@"+6!20.;(0;,E!)(+!),C0(9,!"+!

K15="-,-!+6,*!09!0!@0>!+5!"*0;".,!/,1(!5(+9"-,!54!+6,!d(.;2,P!!!!D9M".;!+6,*!+5!

".C2(-,!@51-9!".!+6,"1!".-";,.5(9!20.;(0;,9!@09!0!@0>!+5!)1,0M!@60+!+6,>!+,1*!09!

+6,!,*)011099*,.+!54!(9".;!".-";,.5(9!20.;(0;,9E!+5!K20>!@"+6!2"+,101>!-,="C,9E!0.-!

09!0.!,B,1C"9,!".!*,*51>!0.-!"*0;".0+"5.!09!@,22P!

! ^W!

!

D2+65(;6!+6,9,!;"129!01,!.5+!"**";10.+9!S+6,>!@,1,!022!)51.!".!/,1(TE!+6,"1!

@51M!0.-!2"4,!6"9+51",9!1,42,C+!0!M".-!54![5".(,51M"$51!*";10+51>!2"+,10+(1,E!09!'!

*,.+"5.,-!K1,="5(92>E!),C0(9,!.5+!5.2>!-5!+6,>!C1599!;,5;10K6"C!0.-!,+6."C!

)51-,19!+5!011"=,!0+!+6"9!C5.=,.+R!+6,>!0295!-,=,25K!0![5".(,51M"!"-,.+"+>E!)5+6!".!+6,!

.,;5+"0+"5.!54!+6,!)51-,19!0.-!+10.9"+"5.!),+@,,.!;"12-655-!0.-!@5*0.655-E!0.-!

".!+6,!,BK2510+"5.!54!+6,!C5*K2,B!"-,.+"+>!8(,9+"5.".;!+60+!"9!,BK,1",.C,-!0+!),".;!

(K155+,-!0@0>!415*!0!+10-"+"5.02!9,++".;P!!!

'.!+6"9!@0>E!+6,"1!@51ME!,9K,C"022>!+6,!5-,9!+5!+6,"1!65*,+5@.9E!2"M,!".!*59+!

2"+,10+(1,!54!"**";10+"5.E!,B"2,!0.-!-"9K20C,*,.+E!C5.d(1,!+@5!=,1>!"*K51+0.+!

K20C,9G!+6,!K20C,!54!51";".E!0.-!+6,!K20C,!54!011"=02P!!#6,!65*,+5@.!"9!.,=,1!0)9,.+!

415*!.0110+"=,9!0)5(+!+6,!C5.=,.+E!0.-!+6,!C5.=,.+!"9!.5!25.;,1!,=,1!0)9,.+!415*!

.0110+"=,9!0)5(+!65*,P!!#6,9,!+@5!K20C,9!),C5*,!".+1".9"C!K01+9!54!+6,"1!"-,.+"+>!

0.-!+6,!.0110+"=,9!+60+!451*!015(.-!+6"9!"-,.+"+>P!!#6,>!C0.!.5!25.;,1!,=,1!),!415*!

d(9+!5.,!K20C,P!!#6,9,!,B0*K2,9E!+6,!5-,9!+5!+6,"1!65*,+5@.9E!01,!+6,!),;"..".;9!54!

0!*";10+51>!9,.9"+"="+>!'!4".-!+615(;65(+!022!+6,"1!@51MG!+6,!65*,+5@.p51";".!09!0!

K20C,!54!.59+02;"0E!0.-!+6,!C5.=,.+!09!0!K20C,!54!+10.9"+"5.P!!!

'!09M,-!+6,!C2099!@6>!?,1(-0!@15+,!0.!65*0;,!+5!A0C6(!/"C6(E!0.-!.5+!+5!0!

K,195.P!!759"+0E!+6,!*59+!1,C,.+!*,*),1E!8(",+!>,+!02@0>9!@1"+".;E!90"-E!F),C0(9,!

95*,+"*,9!>5(!C0.!25=,!0!K20C,!09!*(C6!09!0!K,195.Pf!!!

!

!

!

! ^Y!

!

!

!

!

!

!

#6,"1!5-,9!+5!+6,"1!

65*,+5@.9!965,!+6"9!M".-!54!

25=,!0.-!0!.59+02;"0!9+,,K,-!".!25=,!54!51";".E!".!+6,!*,*51>!54!,012>!;"12655-E!54!

K20>".;!@"+6!+6,!;,5;10K6>!+60+!;0=,!+6,*!+6,"1!4"19+!*,*51",9G!+6,!W&,?5*#*'alE!+6,!

1"=,19R!02@0>9!+6,!@0+,1G!0!95(1C,!54!2"4,E!+10=,2!0.-!*>+6P!!

!

!

!

!

'.!%2,.0h9!5-,!+5!6,1!65*,+5@.E!/0C0>0!&0*"1"0E!96,!;"=,9!65*0;,!+5!+6,!20M,!+60+!

6,1!+5@.!1,=52=,9!015(.-P!!'.!%2,.0h9!K01+"C(201!C09,E!96,!4"19+!2,4+!6,1!65*,+5@.!0+!

0;,!9,=,.E!@6,.!*"99"5.01",9!C5.=".C,-!6,1!K01,.+9!+60+!96,!@09!),++,1!544!".!0!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!U\!&*022!,.C20=,9!54!@0+,1E!2"M,!0!9@"**".;!652,E!(9(022>!@"+6!9*022!@0+,140229!

!

! !

!!

4*6*B*$=*0151*$$$R)O$@*;"$#,$81.#"'$6"8"5,'$B$?,88"'$4*1'*K,'O$W&,$6".$,8$*8?*$#,$6*#*$#U*$Z*'$+1#*$*$("#"'$8"'$*.10*8,'$B$,88"'$h'(*.$*;5*#,61#"'$Q"5$(,.,5$,8$8*;"$%J'$P,50"'"$#,8$0&.#"]$$R)O$8*;"$,5,'$6"0"$&.$0*.*.(1*8$Z,$P,50"'*'$6*'6*#*'$W&,$Q*5,6,.$h'0,5*8#*'O$(1.,'$8"'$0*B"5,'$=,65,("'$#,$8*$',8+*$Q,5&*.*$W&,$4*5,6,.$(,'"5"'$"6&8("']$$@*;"$#,$[8"5,'$P,50"'*'$W&,$6".$(&$T5"0*$Q,5[&0*'$,8$?,88"$6*.(*5$#,$@*'$*+,'O$@*;"$1.;5,1#"$W&,$."$#,K*'$=*6*5$8"'$?,88"'$*.10*8,'$W&,$+1+,.$Z,.(5"$#,$(1$B$B*\,Q1$2*Q*2*.2*.]$/HC]$X*\,Q1:$+1+,.$m*Q*2*.2*.:$[,816,'$H#1"0*$=P*\1$

!

!!

!

!

! ^^!

*"99"5.01>!65*,!".!0.5+6,1!+5@.E!0.-!+6,.!+@5!>,019!20+,1!+5!+6,!C5.=,.+E!@6,1,!

96,!"9!955.!C,2,)10+".;!6,1!U\+6!)"1+6-0>P!!'.!6,1!K5,*E!+6,!20M,!0.-!+6,!20.-9C0K,!

01,!9,,.!09!0!95(1C,!54!2"4,P!!&6,!-,9C1"),9!+6,!@0+,14022!09!0!652-,1!54!022!+6,!d(.;2,h9!

9,C1,+9P!!Q"M,!".!*59+!54!+6,!K5,*9E!+6,1,!"9!0.!0-*"10+"5.!451!+6,!(."8(,.,99!54!+6,!

@0+,1!95(1C,E!0.-!0!9,.9,!+60+!+6,1,!"9!.5!K20C,!2"M,!"+P!!#6,1,!"9!0295!0!@01.".;!+5!+6,!

20M,!+5!.5+!2,+!"+9!0."*029!0.-!2"4,!),!+0M,.!0@0>!415*!"+E!),C0(9,!+6,>!01,!60KK>!

+6,1,P!

!

!

!

!

!

!

!

T8(&5*'$#,$^,?,5"'$$ 4"5$G"6U"$$%1'(,51"'"$Q&,?81("O$%&A'(5*."'$(&$,.6*.("$W&,$(1,.,'$,'6".#1#"$$h'(*$."6P,$'*8#5J$(&$5,1.*$#,8$^,?,5"'$6"0"$&.*$#1"'*$,.6*.(*#"5*$,'0,5*8#*$$^,?,5"'O$W&,$?,88"$,.6*.("$,'6".#,'$?*K"$(&'$,V(5*F*'$,'$6"0"$&.*$K"B*$#1[U618$#,$6".',;&15$$h.$^,?,5"O$,8$*15,$,'$6"0"$&.$6&6,5"$n\"5#$1.$=P*\1o$W&,$."'$,0Q1,M*$*$(,0Q8*5$$@"'$Q1B*Q1'$W&,$88,;*.$*8$8&;*5$6".+,5'*.$6".$&.$,'Q151("$#,$*81+1"$$4"5W&,$X&'Q*51.$*$,88"'$8*'$0*5*+188*'$W&,$,.6".(5*0"'$'".$,8$,.6*.("$#,$01'(,51"'"$Q&,?81("$$9"0"$#16,.$8"'$'P1\18*'$.&,'(5"$Q&,?8"$,'$&.$6"[5,$88,."$#,$,.6*.("'$

-Por Rocío

!

! ^_!

!

!

!

'.!+6,!K1,="5(9!+@5!5-,9!)>!75Cj5!

0.-!Q5(1-,9E!)5+6!&60@"!+65(;6!415*!

-"9+".C+!="220;,9E!+6,!*,*51>!0.-!"-,.+"+>!C5.=,>,-!".!)5+6!"9!0.!".-";,.5(9!5.,E!

+02M".;!0)5(+!+6,!"*K51+0.C,!54!+6,!20.-!0.-!.0+(102!1,95(1C,9!+5!+6,!&60@"!K,5K2,P!!

'.!+6,9,!K5,*9E!+6,!;"129E!09!".-"="-(029E!9601,!0!C522,C+"=,!"-,.+"+>!@"+6!+6,!&60@"!

K,5K2,!0.-!652-!+6,!90*,!=02(,9!09!+6,*!+55P!

!

351!75Cj5E!6,1!65*,+5@.!],),159!"9!2"M,!0!6"--,.!d,@,2P!!Q"M,!%2,.0h9!K5,*E!

75Cj5h9!K5,*!1,K1,9,.+9!6,1!65*,+5@.!2"M,!0.!,.C60.+*,.+E!51!0!9,C1,+E!6"--,.!+5!

+659,!@65!01,!.5+!415*!+6,1,P!!&6,!09M9!],),159G!\P*($\".#,5'$#"$B"&$P1#,$

&.#,5.,*(P$B"&5$1.'1#,'p!!&6,!".C2(-,-!+61,,!@51-9!".!&6"@"25E!+6,!".-";,.5(9!

20.;(0;,!54!6,1!65*,+5@.E!0.-!96,!,.-9!+6,!K5,*!)>!90>".;E!!

FC5*5!-"C,.!259!96"@"20E!

.(,9+15!K(,)25!,9!(.!

C541,!22,.5!-,!,.C0.+59f!

#6,!".C2(9"5.!54!+6"9!209+!K01+!-,*5.9+10+,9!0.!65*0;,!.5+!5.2>!+5!+6,!20.-9C0K,!96,!!

!T8(&5*'$#,$4*1'*K,'$$ $ _4"5$@"&5#,'$$=".$8*'$Q8*.(*'$'&'$P"K*'$+&,8*.$Z,$5*0*']$7&,8*$,8$+*6U"$#,$'&'$5*0*'O$@*$Q8*.(*$#&5*$#,$'&$+1#*$Z,8$?"'W&,$R)O$Q8*.(*O$,5,'$'"."5,'$#,$'&'$)"K*'$W&,$'".$P,50"'"'O$+,5#,'$)"K*'$6"0"$&.*$0*51Q"'*$#,$9"8"5,'O$,5,'$Q8*.(*$5,8J0Q*;"$S&,$(1,.,'$6"8"5,']$$Z16,.$8"'$'P*\1'$@*'$Q8*.(,'$',$0*56P1(*.$6&*.#"$',$@,$("0*.O$,5,'$6"0"$&.*$.1Q1$n'P*\1:$P"501;*o$h'$8&;*5$W&,$,'$0&B$P,50"'"$S&,$P*B$0&6P"'$?"'W&,']$$$h'$,8$Q&,?8"$'P*\1 !

! ^\!

1,*,*),19!0.-!+60+!10"9,-!6,1E!)(+!0295!0.!65*0;,!0.-!1,C5;."+"5.!54!"*K51+0.C,!

+5!+6,!+10-"+"5.02!25C02!M.5@2,-;,!54!K20C,!0.-!+6,!90>".;9!54!0.C,9+519!0.-!

C5**(."+>!*,*),19P!!D+!+6,!90*,!+"*,!+60+!96,!1,*,*),19!0.-!-,9C1"),9!6,1!

65*,+5@.E!96,!0295!;"=,9!=5"C,!+5!+6,!9+51",9!54!+659,!@65!9+"22!2"=,!+6,1,!0.-!@65!

-"-!.5+!2,0=,!09!96,!-"-P!

!

!

$

$

$

$

$

$

$

$

$

!

@"'$),50"'"'$5U"'$#,$=*.$@"5,.M"$$ $ 4"5$%*.&,8*$$="B$#,$8*$',8+*$9"0"$8*'$#*.M*'$["828"516*'$h.(5,$8*'$Q1P(*$n[1,'(*'o]$$<&'$5U"'$6*&#*8"'"'$W&,$'&,.*.$9"0"$;51("'$#,$8"'$*.10*8,'$S&,$6&*.#"$65,6,'$*55*'(5*'$("#"$S&,$,.6&,.(5*']$$4,5"$,5,'$(*.$P,50"'"$6"0"$&.$.1F"O$4"5W&,$."'$*B&#*'$*$.*+,;*5$Q"5$(&$5U"$S&,$."'$*B&#*'O$6".$(&'$0*."'$."$,0Q&K*'$)*'(*$.&,'(5"$Q&,?8"$$X$(&'$*85,#,#"5,'$'".$P,50"'"'$4"5W&,$8"$(1,.,'$("#"$8"'$W&,$"(5"'$."$8"$(1,.,.$<&$(1,.,'$1'P*$n5U"o$W&,$."'$+*0"'$*$=*01(*5*\,$nQ,'6*5o$,.$(&$1'P*$P,50"'"$$h5,'$(*.$P,50"'"$W&,$,V1'(,$,.$E.YQ*.&\,$n01$(1,55*oO$,5,'$1.6"0Q*5*?8,$<,$W&1,5"$6".$("#"$01$6"5*M".$$<&$,5,'$01$*0"5$<,$*0"$1'P*$

!

! ^Z!

!

A0.(,20!@1"+,9!+60+!96,!"9!415*!+6,!d(.;2,E!d(9+!2"M,!452M!-0.C,9!01,!415*!+6,!

d(.;2,P!!&"*"201!+5!+6,!5+6,1!5-,9E!A0.(,20!".=5M,9!+6,!(."8(,.,99!54!6,1!65*,+5@.!

@"+6!0!45C(9!5.!"+9!20.-9C0K,P!!X"&$P*+,$\P*($."$".,$,8',$P*'E!96,!90>9E!*.#$(P*($1'$

\PB$B"&$*5,$?,*&(1[&8P!!A59+!54!6,1!25=,!+5@01-!6,1!65*,+5@.!"9!+5@01-!"+9!1"=,19E!

965@".;!+60+!+6,!1"=,1!"9!0!*5.(*,.+02!451C,!".!6,1!2"4,!0.-!9+51",9E!)5+6!09!0!6(;,!

9>*)52!".!+6,!*,*51>!54!65*,E!0.-!0295!09!+6,!451C,!+60+!+55M!6,1!S0.-!022!54!+6,*T!

0@0>!415*!65*,P!!!

&6,!90>9!+5!6,1!1"=,1G!B"&$*5,$?,*&(1[&8$812,$*$6P18#I?,6*&',$B"&$P,8Q$&'$.*+1;*(,$

B"&I?,6*&',$B"&$P,8Q$&'I*.#$\1(P$B"&5$P*.#'$B"&$Q&'P$&'$?*62$P"0,]!

!

!

!

!

!

!

!

!

4",0*$#,$#".#,$+1+"$$ $ _4"5$%*51*$G"'*$$h5*$&.*$81.#*$B$P,50"'*$61&#*#$#,$=".51M*'O$B"$(,$*0"$6".$("#"$01$9"5*MD.O$Q"5W&,$,'$01$61&#*#$#,$#".#,$X"$+1+"$B$0,$(5*,$0&6P"$5,6&,5#"'$4"5$#".#,$B"$Q*',*?*$B$Q"5$<"#*$8*$61&#*#$,5,'$8*$0J'$),50"'*]$<,$*0"$(*.("$Q"5$h'"$(,$,'651?"$,'(*$81.#*$B$),50"'*$Q",0*$W&,$(,$h'651?"$6".$6*51F"$B$*0"5$4"5$',5$8*$61&#*#$810Q1*$B$R5#,.*#*$B$Q"5$W&,$0,$#1'(,$@*$;5*.#,M*$#,$',5$&.*$6P16*$-&,.*$B$"5#,.*#*$Q*5*$'1,0Q5,$<,$*0"$0&6P"$'*.*01#1M*p$$h.$8*$P,50"'*$M".*O$=,$"'6&5,6,$6"0"$$h8$'18,.61"$#,$&.$?"'W&,$="81(*51"$B$+&,8*.$8"'$*+,'$9"0"$;1(*.*'$#,$E.$8&;*5$*8$"(5"$!

! _c!

!

'.!A01"0!7590h9!K5,*E!2"M,!".!*59+E!+6,!*0".!95(1C,!54!0KK1,C"0+"5.!0.-!25=,!

C5*,9!415*!+6,!4,,2".;!+60+!+6"9!K20C,N+6,!65*,+5@.!+6,>!@1"+,!0)5(+N"9!@60+!

451*,-!0!201;,!K01+!54!@65!+6,>!01,P!!#6,>!+6".M!54!"+!@"+6!45.-.,99E!),C0(9,!+6,>!

60=,!+6,!*,*51>!+5!-5!95P!!&6,!90>9!+60+!96,!1,*,*),19!+6,!K20C,9!96,!(9,-!+5!@02M!

+615(;6P!!?5+!5.2>!-5,9!96,!+6".M!54!6,1!65*,+5@.!09!),0(+"4(2E!)(+!+6"9!K5,*!0295!

965@9!+6,!0-*"10+"5.!96,!609!451!6,1!5@.!C1,0+"="+>!0.-!@1"+".;!0)"2"+>P!!#6"9!K5,*!

"9!".+,1,9+".;E!),C0(9,!96,!90>9!"+!"9!+6,!K20C,!@6,1,!)"1-9!1,+(1.E!)(+!0295!@6,1,!

)"1-9!0C+!2"M,!;>K9",9E!+10=,22".;!415*!5.,!K20C,!+5!0.5+6,1P!

!

!

!

!

!

!

!

!

!

@*'$P,50"'*'$W&,?5*#*'$#,$'*.(*$65&M$$ $ _4"5$%*5&$$T8(&5*$#,$8*'$W&,?5*#*'$$=&?,$$6".01;"O$*0"5$Q,5&*."$7,$,8$*;&*$#,$01$S&,?5*#*$#,$01$Q&,?8"O$8*'$48,.*'$*;&*'$#,$8*$W&,?5*#*$$)&,8,$,8$+*61"$#,$8*$,.5,#*#,5*$9".$'&'$*;&*'$P,50"'*'$W&,$T#015*$8*'$Q,5'".*'$B$8*$<,5.&5*$W&,$(1,.,.$P*6U*$(1]$$h5,'$8*$\,5*\,a$Q*5*$@*'$Q8*.(*'O$*.10*8,'O$B$Q,5'".*']$$9"0"$8*'$0*5*?188*'$#,$8"'$*.#,'$S&,$(&'$*;&*'$,'$6"0"$5,'?*8*#,5"$Z,$&.*$,'(5,88*$!

! _U!

#6"9!K5,*!965@9!.5+!5.2>!0!45.-.,99!54!*,*51>!+5@01-!+6,!8(,)10-09!

S9*022!,.C20=,9!54!1"=,1E!@6,1,!+6,!@0+,1!"9!9+"22E!(9(022>!@6,1,!M"-9!K20>!0.-!K,5K2,!

@096!+6,"1!C25+6,9TE!)(+!0295!0.!0-*"10+"5.!0.-!0!25=,!54!@0+,1!09!+6,!K20C,!+60+!

*0-,!;"12655-!4(.R!09!0!95(1C,!54!F@,10@,f!S2"4,!".!&60@"T!451!,=,1>+6".;!2"=".;P!

A59+!K,5K2,!".!+6,!1,;"5.!;15@!(K!015(.-!+6,!8(,)10-0R!"+!"9!0!K20C,!54!*>+6N

*0M".;E!-0.;,1!@01.".;9E!-0"2>!C2,0.9".;!0.-!K20>".;P!!#6,!1,095.!@6>!@0+,1!

S1"=,19E!8(,)10-09E!,+CPT!01,!95!K1,9,.+!".!*>+6525;>!"9!+60+!+6,>!01,!K1,9,.+!".!,=,1>!

-0>!2"4,P!!'.!+6"9!K5,*E!+6,!8(,)10-0!"9!.5+!d(9+!0!95(1C,!54!452M251,!)(+!5.,!54!

,99,.+"02!2"4,!0.-!+6,!C,.+102!K6>9"C02!K20C,!+60+!-,4".,9!K01+!54!+6,"1!,BK,1",.C,!54!

/,1(P!!

!

!

!

!

!

!

!

!

!

h8$@*;"$9&1Q*51$$ 4"5$%*58,.,$$h'$&.$8&;*5$0&B$P,50"'"$B$*(5*6(1+"$4*5*$("#*'$8*'$Q,5'".*'$6".$'&'$*;&*'$S&,$6"55,$6"55,$6"0"$&.*$?*8*$B$8"'$Q*K*5188"'$9*.(*.$'1.$Q*5*5$Q"5W&,$'".$0&B$[,816,'$4"5$(,.,5$&.$8&;*5$0&B$P,50"'"$@"'$P*?1(*.(,'$#,$,',$8&;*5$+1+,.$[,81MO$<"0*.$'&'$0*M*("'$B$6"01,.#"$'&$Q,'6*#"$9".$'&$\1."$B$Q8*(*."$@*'$[8"5,'$B$8"'$*5?"8,'$'".$0&B$/,816,'$B$8"'$?"'W&,'$Z,$*(*5#,6,5$8"'$*.10*8,'$+&,8+,.$*$'&'$C1#"']$X$*8$*."6P,6,5$8"'$*.10*8,'$."6(&5.*'$6*.(*.$9".$*8,;51*]$h5,'$8"$0,K"5$01$P,50"'"$8*;"$6&1Q*51$<,$*#"5"$B$(,$W&1,5"$0&6P"]$$!

! _V!

!

!

!

!

!

!

!

'.!A012,.,h9!5-,!+5!Q0;5!O("K01"E!0.-!O01*,20h9!5-,!+5!6,1!+5@.!/0C0>0!

&0*"1"0E!+6,1,!"9!0;0".!0!25=,!54!@0+,1E!0.-!0.!0-*"10+"5.!54!@0+,1!09!0!95(1C,!54!2"4,!

0.-!60KK".,99P!!A012,.,!90>9!+60+!+6,!@0+,1!5.!+6,!20M,!96,!;1,@!(K!5.!1(.9!2"M,!

)(22,+9G!02@0>9!*5=".;P!!&6,!-,9C1"),9!+6,!-0"2>!2"4,!0.-!15(+".,9!54!+659,!".!+6,!

C5**(."+>E!9(C6!09!-1".M".;!*090+5!S0!>(CC0N)09,-!-1".M!*0-,!)>!C6,@".;!>(CC0!

0.-!C6,@".;!+6,!1,9"-(,!".+5!0!201;,!K5+TE!0.-!,0+".;!\1."!S&60@"!451!K2r+0.5!

x)0.0.09!".!+6"9!1,;"5.yTP!!#6,1,!"9!0!;1,0+!-,02!54!25=,!0.-!*>+6525;>!015(.-!2"4,!5.!

+6,!20M,P!!$,1!K5,*!,.-9!@"+6!0!9"*"201!*,+0K651!09!%2,.0h9!".!+60+!"+!,=5M,9!0.!

"*0;,1>!54!5,(&5.1.;G!96,!,.-9!6,1!K5,*!@"+6!90>".;!+60+!022!0."*029!@65!2"=,!544!

@60+!+6,!20M,!K15="-,9!1,+(1.!+5!+6,"1!.,9+9!@6,.!+6,!9(.!),;".9!+5!-,9C,.-P!!

%1$Z&86,$4*1'*K,$$ $ _4"5$9*50,8*$R)O$4*6*B*$=*0151*$#,$Z&86,$Q*1'*K,O$,5,'$,8$4&80D.$#,8$0&.#"$6".$/8"5*$B$/*&.*]$$4"5$,'"$W&,$,V1'(,'O$,.$8"'$@*;"'$P,50"'"'$S&,$?*K*.$,.$8"'$1'P*$n51"'oO$@*'$,'6*8*'O$,.$&.$Q*5*1'"$("(*8]$$h.$8*$6*5Q*#*$M".*O$(*.*$n?"'W&,oO$7,5#,'O$W&,$0*.(1,.,$8"'$51"'$71+"'$6"0"$&.$.&,+"$'&,F"$Z,$*8,;5U*$!

! _X!

!!

'.!O01*,20h9!K5,*E!96,!(9,9!+6,!@51-!51+,5!9,=,102!+"*,9!".!)5+6!&K0."96!0.-!

&60@"P!!'.!02*59+!022!54!+6,9,!K5,*9E!+6,"1!65*,+5@.!9,,*9!+5!60=,!0!9,C1,+!+5!),!

45(.-E!5.,!+60+!5.2>!+60+!+5@.!M.5@9P!!#6,1,!"9!0!6,0=>!4,,2".;!54!.59+02;"0!+5!1,+(1.!

0.-!4".-!+60+P!!!

!

!

!

!

!

!

!

7,+(1.".;!+5!+6,!"-,0!54!.59+02;"0E!".!D.+5.",+0h9!5-,!@,!9,,!0!-,9"1,!+5!

1,+(1.!+5!6,1!65*,+5@.E!"4!5.2>!d(9+!+5!;,+!+5!M.5@!"+!),++,1P!!'.!+6"9!K5,*E!+6,1,!"9!

,8(022>!0!-,9"1,!+5!5,(&5.E!0.-!0!-,9"1,!+5!2."\!95*,+6".;!96,!C5(2-!.5+!60=,!M.5@.!

),451,P!!&6,!@0.+9!+5!M.5@!0.-!-"9C5=,1!*51,!),>5.-!d(9+!+6,!K20C,9!96,!K20>,-!".!

=*.;*?51,8$#,$7*5*#,5"$$$ _4"5$T.(".1,(*$$R)$+*5*#,5"$#,$81.#"'$4*1'*K,'$B$5U"'$P,50"'"'$X$0".(*F*'$*8(*']$$S&1,5"$'*?,5$0J'$*88*$Z,$8*'$0".(*F*'$Q*5*$S&,#*50,$*88$B$(5*.'["50*50,$h.$&.$'*8+*K,$(1;5,$$9P101.'*51.O$B$B*\,Q1$n0&51,.#"',$B$+1+1,.#"$K&.("$*$(1o]$!

! _W!

@6,.!96,!@09!>5(.;,1P!!'.9+,0-E!96,!@0.+9!+5!+(1.!".+5!0!@"2-!+";,1!0.-!,BK251,!022!

96,!-5,9!.5+!M.5@!54!6,1!65*,+5@.P!!

!

! ! ! ! ! u!u!u!

!

A0.>!54!+6,9,!K5,*9!-,K"C+!95*,!951+!54!*,+0K651!54!+6,!C5.=,.+E!0.-!0.!

022,;51>!54!2,0=".;!+6,"1!65*,+5@.E!@6,+6,1!"+!"9!".!0."*02!451*!@6,1,!0."*029!

.,,-!+5!1,+(1.!)>!9(.9,+!0.-!@0.+!+5!4".-!+6,!20M,!51!+5@.!".+0C+E!51!9+0+,-!-"1,C+2>!

".!+6,!451*!54!0!;"12!@65!@0"+9!+5!1,+(1.!5.,!-0>P!!#6"9!965@9!+6,"1!K01+"C(201!

,BK,1",.C,!@"+6!+6,"1!65*,+5@.G!0!K20C,!+6,>!2,4+!+60+!+6,>!65K,!+5!5.,N-0>!1,+(1.P!!

H,!9,,!,="-,.C,!54!+6,*!C5.d(1".;!+6,!C5.=,.+!0.-!+6,"1!,BK,1",.C,!54!+10=,22".;!+5!

"+E!".!+60+!+6,"1!5-,9!+5!+6,"1!65*,+5@.9!01,!.5+!d(9+!65*0;,9!+5!+6,!+5@.!"+9,24E!)(+!

+6,>!01,!(.-,12".,-!@"+6!0.5+6,1!.0110+"=,G!+60+!54!@0.+".;!+5!1,+(1.P!!J(+!".!+6,!

,=5M".;!54!)5+6!65*,+5@.!0.-!C5.=,.+E!+6,1,!"9!101,2>!0!-"9+".C+"5.!54!;55-!=9P!)0-!

@6,.!"+!C5*,9!+5!+6,*R!,0C6!652-9!0!9K,C"02!K20C,!".!+6,"1!6,01+!0.-!*,*51>E!0.-!

,0C6!60=,!+6,"1!4(.C+"5.9P!

!

/01+!54!+6,"1!"-,.+"+>!"9!155+,-!".!+6,!K6>9"C02!K20C,!+60+!10"9,-!+6,*!".!+6,"1!

>5(.;!@5*0.655-P!!#6,!5+6,1!K01+!"4!155+,-!".!+6,!C5.=,.+E!@6"C6!"9!+6,!*52-,1!54!

+6,"1!*0+(1"+>!0.-!4,*"."."+>P!!H6"2,!+6,!C5.=,.+!652-9!;1,0+!"*K51+0.C,!0.-!

".42(,.C,!".!+6,!C5.9+1(C+"5.!54!+6,"1!0-(2+!@5*0.655-E!@60+!+6,"1!5-,9!+5!+6,"1!

65*,+5@.9!965@E!"9!0.!".+"*0+,!.59+02;"C!2"+,101>!1,+(1.!+5!+6"9!"*K51+0.+!K20C,!

+6,>!60=,!2,4+P!!'.!+6"9!@0>!+6,>!)5+6!-,*5.9+10+,!+6,!K6>9"C02!C1599".;!54!)51-,19E!

! _Y!

415*!65*,!+5!C5.=,.+p!415*!="220;,!+5!1"=,1E!415*!1"=,1!+5!e(1"*0;(09E!415*!

".-";,.5(9!="220;,!+5!(1)0.!*,9+"L5!9K0C,R!0.-!,*5+"5.02!5.,!54!1,N"*0;".".;!"+9!

9+51",9E!"+9!+09+,9E!"+9!9";6+9E!95(.-9!0.-!,=,1>!-0>!2"4,P!!!

!

H60+!)51-,19!-5,9!+6,!@1"+".;!".!+6"9!0C+"="+>!1,42,C+!),".;!C1599,-!51!

.,;5+"0+,-i!! !

H,!60=,!+6,!)51-,1!C1599".;!),+@,,.!65*,!0.-!C5.=,.+E!*0".2>E!)(+!),C0(9,!54!+6,!

.0+(1,!54!+6,!K20C,!415*!@6"C6!+6,>!@1"+,G!e(1"*0;(09E!+6,1,!"9!0295!+6,!)51-,1!

),+@,,.!1(102!0.-!(1)0.P!!#6,!K6>9"C02!K20C,9E!+6,!.0+(1,E!+6,!20.-9C0K,!01,!9(K,1!

,*K609"L,-!6,1,E!),C0(9,!"+!"9!+6,!*0".!;,5;10K6"C!-"44,1,.C,!),+@,,.!="220;,!2"4,!

0.-!C"+>!2"4,P!!!

!

!

!

!

A0.(,20!4"."96,-!6,1!K5,*G!B"&$*5,$?,*&(1[&8$812,$*$6P18#I?,6*&',$B"&$P,8Q$&'$

.*+1;*(,$B"&I?,6*&',$B"&$P,8Q$&'I*.#$\1(P$B"&5$P*.#'$B"&$Q&'P$&'$?*62$P"0,]$$#6"9!

"9!9(C6!0!K5@,14(2!*,+0K651!54!6,1!5@.!2"4,!0.-!1,20+"5.96"K!+5!6,1!65*,+5@.P!!'+!

+,229!0!9+51>!54!2,0=".;!65*,!0.-!011"=".;!95*,@6,1,!,29,!SF>5(!6,2K!(9!.0=";0+,!

>5(fTE!)(+!"+!0295!965@9!+6,!.59+02;"0!54!+60+!K20C,!S+6,!-,9"1,!+5!1,+(1.TE!0.-!+6,!

"*0;".0+"5.!54!1,NC1599".;!+60+!)51-,1!".!0!4(+(1,!SF@"+6!>5(1!60.-9!>5(!K(96!(9!

)0CM!65*,fTP$

!

! _^!

$5@! -5,9! ),".;! 0+! +6,! C5.=,.+! ".42(,.C,! +6,! @0>! +6,>! +6".M! 0)5(+! +6,"1!

65*,+5@.9i! !H6>!-5!95*,!.0110+"=,9!K15-(C,!90-.,99!51!.,;0+"=,! 4,,2".;9!0)5(+!

65*,+5@.9!0.-!40*"2",9E!0.-!@6>!-5!5+6,19!,=5M,!.59+02;"0!0.-!>,01.".;i! !#6,9,!

,B0*K2,9! 965@! +6,! *(2+"K2,! "*0;,9! 0.-! 20>,19! +6,>! (9,! ".! 1,*,*),1".;! +6,"1!

65*,+5@.9!0.-!".!1,NC1599".;!+6,!)51-,19!+5!+6,"1!65*,+5@.9!415*!@"+6".!+6,!+,B+P!!

H60+!9()d,C+"="+",9!0.-!"-,.+"+",9!01,!K15-(C,-!".!1,*,*),1".;!+6,!65*,+5@.!415*!

+6,!C5.=,.+i! !J,.,-"C+!D.-,195.!90>9E! F'4! 10-"C02!A5L0*)"8(,!9K,0M9!/51+(;(,9,E!

+6,!9";."4"C0.C,!54!+6"9!"9!+60+!/51+(;(,9,!"9!+6,!*,-"(*!+615(;6!@6"C6!A5L0*)"8(,!

"9!"*0;".,-f!SUZ\XT!'.!+6,!90*,!@0>E!+6,!C5.=,.+!"9!+6,!9K0C,!0.-!*,-"(*!+615(;6!

@6"C6! 65*,+5@.9! 01,! "*0;".,-E! K20C,9! 01,! 1,*,*),1,-E! 0.-! ".9";6+9! 5.! +6,!

C5.=,.+!01,!1,=,02,-P!!

!!!

H60+!"9!+6,!+",!+60+!)".-9!+6,*!022!+5!+6,"1!65*,+5@.9i!!'+!"9!+6,!40C+!+60+!+6,>!022!!

9601,!+6,!1,02"+>!!54!.5+!),".;!415*!6,1,R!54!60=".;!0!65*,+5@.!+60+!"9!401!0@0>P!

! __!

19

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!UZ!D.+5.",+0E!UWE!Q,++,1!@1"+".;!0C+"="+>!

! _\!

Chapter 4 / Capítulo 4

“Como Lluegé al Convento”: Sensory Travel Poems About the Journey from

Home to Convent

Calentamiento, 4 de Julio Day 14 of classes. Day 2 of region-wide teacher’s strike * Cuando digo sabor, en que piensas? Sangre, humo,

cebolla, !

Cuando digo sonido, en que piensas?

, la lisura del cuerpo,

la madre del torno gritándome…

Cuando digo tocar y olor, en que piensas?

, tocar el suelo sucio, humo,

tocar un libro, tocar mi cuello…

* Piensa en esto, y luego, escribir tu favorito, y tu menos favorito para cada categoría. * Ahora, por favor piensa sobre tu primer viaje a Yurimaguas. Piensa en las sensaciones, piensa en los detalles, y en las emociones de ese viaje. Se acuerdan? Luego, escribe un poema sobre tu primer viaje a Yurimaguas. ¿A qué sonaba? A que sentía? A que olía? Que sabor tenía tu viaje? …. Escribelo en cualquier forma que deseas.

! _Z!

9"0"$@8,;&A$*8$9".+,.("G!!

&,.951>!+10=,2!K5,*9!0)5(+!+6,!d5(1.,>!415*!65*,!+5!C5.=,.+!

!

!

!

Vc!

!

D+!0;,!UWE!A012,.,!+10=,22,-!5.!7j5!/010.0K(10E!+6,.!5.!7j5!D*0L5.0!0.-!

20+,1!+6,!1,*0".".;!65(19!)>!150-E!".!51-,1!+5!011"=,!0+!+6,!$5;01!20!J(,.0!

%9K,10.L0P!!&6,!1,*,*),19!+6,!95(.-!54!+60+!+1"K!09G!'P*$'P*$'P*P!!A59+!54!+6,!;"129!

60=,!0!*,*51>!54!0!95(.-!+6,>!0++1")(+,!+5!+6,"1!d5(1.,>!415*!65*,!+5!C5.=,.+P!!

#6,1,!"9!0!9,.9,!54!;"12655-!+60+!"9!M,>!+5!(.-,19+0.-".;!+6,"1!1,*,*),1".;!54!+6"9!

d5(1.,>E!".!+6,!9,.9,!+60+!+6,"1!;"12655-!"9!201;,2>!-,4".,-!)>!+6"9!*0d51!d5(1.,>E!0.-!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Vc!A012,.,E!UW!

! \c!

0295!".!+6,!9,.9,!+60+!+6,>!54+,.!0++1")(+,!+6"9!d5(1.,>!09!+6,!4"19+!9+,K!".!

+10.9"+"5.".;!".+5!@5*0.655-P!

D2+65(;6!+6,!@1"+".;!".!+6"9!0C+"="+>!0295!1,=,029!".9";6+9!".+5!+6,!9";."4"C0.C,!

54!65*,R!+6"9!0C+"="+>!45C(9,9!5.!+6"9!+1"K!09!0.!,K"C!d5(1.,>!".!+6,"1!2"=,9G!+6,!-0>!

+6,>!2,0=,!65*,!+5!+10=,2!+5!+6,!C5.=,.+E!0.-!+6,!S54+,.T!-0>9!+6,!d5(1.,>!"+9,24!

+0M,9P!

&,,.!".+"*0+,2>E!+6"9!0C+"="+>!1,42,C+9!0.!,K"C!d5(1.,>!,*)01M,-!)>!;"129!@65!

K,1C,"=,!+6,!+1"K!09!+6,"1!4"19+!,BK,1",.C,!54!".-,K,.-,.C,!0.-!54!),C5*".;!@5*,.P!!

#6,!1,095.!+6,!d5(1.,>!"9!6(;,2>!"*K51+0.+!0.-!K1,9,.+!".!+6,"1!2"=,9!0.-!5+6,1!

.0110+"=,9!"9!.5+!d(9+!),C0(9,!"+!@09!4(.E!)(+!+60+!+6,>!01,!0+!0.!0;,!0.-!K5".+!".!+6,"1!

2"4,!@6,1,!+6,>!01,!-,4".".;!+6,"1!@5*0.655-E!0.-!K01+!54!@60+!+6,>!),2",=,!*0M,9!

+6,*!@5*,.!"9!+60+!+6,>!60=,!2,4+!+6,"1!40*"2",9E!+6(9!255M".;!0+!+6,!d5(1.,>!09!0!1"+,!

54!K0990;,!+5@01-!".-,K,.-,.C,P!!#6,!;"129!+1,0+!+6"9!d5(1.,>!09!0!1"+,!54!K0990;,!

".+5!@5*0.655-!0.-!".-,K,.-,.C,E!451,=,1!0995C"0+".;!+6,!+@5P!!#6"9!d5(1.,>!609!

),C5*,!0!K5@,14(2!9>*)52!".!+6,"1!2"=,9!0.-!".!+6,!@0>!+6,>!+6".M!0)5(+!+6,"1!4(+(1,!

09!@5*,.!)5+6!".!0.-!54!"+9,24E!0.-!".!+6,!1,;"5.P!

#6"9!d5(1.,>!".+5!0!.,@!C"+>E!0!.,@!@0>!54!2"=".;!0.-!.,@!,BK,1",.C,9!;"=,9!

0.5+6,1!9+51>E!0.5+6,1!-,K+6!+5!Q0+".!D*,1"C0.!0.-!4,*"."9+!,BK,1",.C,R!0.5+6,1!

255M!0+!65@!;"129!),C5*,!@5*,.E!0.5+6,1!255M!0+!65@!@,!-,4".,!2"+,10+(1,!54!

*";10+"5.R!0.5+6,1!255M!0+!C5*".;!54!0;,!".!*01;".02!K20C,9P!!!

#6"9!0C+"="+>!965@9!*51,!54!+6,!".-"="-(02!0.-!".+"*0+,!,BK,1",.C,!,0C6!;"12!

60-!@"+6!6,1!5@.!d5(1.,>P!!'.!1,NC1,0+".;!+6"9!d5(1.,>E!.,@!2"4,!9+51",9!,*,1;,P!!'.!

45C(9".;!5.!+6,!9,.951>!,BK,1",.C,E!6(.-1,-9!54!+6,"1!5@.!*"C15N9+51",9!@,1,!

! \U!

5K,.,-!(K!+5!+6,*P!!#6,!0C+"="+>!K01+"022>!4(.C+"5.,-!09!0!@0>!+5!+6".M!0)5(+!+6,"1!

,BK,1",.C,9E!0.-!),;".!+5!=02(,!+6,*E!)(+!"+!0295!96"4+,-!+6,!45C(9!+5!+6,!)5->P!!#6,!

,B0*K2,9!54!+6,"1!@1"+".;!01,!K1,9,.+,-!),25@E!0.-!,0C6!2,0-!(9!09!1,0-,19!+5!45C(9!

5.!,VQ,51,.6,N+6"9!K01+"C(201!,BK,1",.C,N!0.-!65@!"+!@09!,BK,1",.C,-!".!0.-!

+615(;6!+6,!)5->P!

'!C659,!+6,!45C(9!5.!+6,!)5->!0.-!+6,!9,.9,9!".!+6"9!K5,*E!),C0(9,!+6,!)5->!

"9!5(1!C259,+!2".M!+5!*0M".;!9,.9,!54!+6,!@0>!@,!K6>9"C022>!,BK,1",.C,!95*,+6".;P!!

3,*"."9+!+6,51"9+!&010!O09+15Nb201m.!90>9!FH60+!'!4".-!*59+!K15*"9".;!".!022!+6,9,!

x4,*"."9+y!-,)0+,9!"9!+6,!1,+(1.!54!+6,!@5*0.h9!)5->!09!0!C5.9+"+(+"=,!K01+!54!+6,!

6"9+51"C02!0.-!@"+6!"+!+6,!1,C(K,10+"5.!54!+6,!C5.C,K+!54!2"=,-!,BK,1",.C,f!Sb"0,.Y'$

b51(1.;$1.$@*(1.$T0,516*O$UYT!

'!@0.+,-!+6,*!+5!(9,!+6,"1!)5-",9!+5!1,*,*),1P!!'!@0.+,-!+6,*!+5!9,,!+6,"1!

)5->!09!0.!,.+"+>!+60+!6*.!1,*,*),1R!+60+!6*.!K15-(C,!C1,0+"="+>E!M.5@2,-;,E!

0,0"5Bj!D!45C(9!5.!+6,!)5->!2,0-9!(9!+5!0!-,,K,1!(.-,19+0.-".;!54!,VQ,51,.6,]!!

b0+62,,.!O0..".;!90>9E!F'.-,,-E!),C0(9,!*(C6!54!+6,!K15=5C0+"=,!1,+6".M".;!0.-!

1,C09+".;!54!+6,9,!+,1*9!609!+0M,.!K20C,!5(+9"-,!54!6"9+51>E!0++,*K+9!+5!1,-,4".,!

M,>@51-9!".!+6,!=5C0)(201>!54!95C"02!6"9+51>!0.-!@5*,.h9!6"9+51>N,VQ,51,.6,O$

*;,.6BO$#1'6"&5',O!0.-$1#,.(1(BN*(9+!),!,*),--,-!".!-,)0+,9!0C1599!-"9C"K2".,9f!

S/,01.1'($TQQ5"*6P,'$("$<P,"5B$*.#$%,(P"#"8";BO$WYTP!!O0..".;!;5,9!5.!+5!90>!+60+!

*59+!54!+6,!1,-,4".".;!54!+6,9,!@51-9!60=,!+0M,.!K20C,!F5(+9"-,!54!6"9+51>f!SWYTP!!351!

+6"9!1,095.E!'!C1,0+,-!0.!0C+"="+>!+60+!@5(2-!0+!+6,!2,09+E!K15-(C,!.0110+"=,9!54!

,BK,1",.C,!5(+9"-,!54!6"9+51>!".!+60+!+6,!C,.+102!M.5@2,-;,N*0M,1!0.-!45C(9!"9!+6,!

".+"*0C>!54!9,.9,9P!!H60+!+6,9,!;"129!60=,!0C+(022>!-5.,!".!1,NC1,0+".;!+6,"1!

! \V!

*,*51",9!"9!)0++2,!0;0".9+!K1,N,9+0)2"96,-!-5*".0.+!M.5@2,-;,9!09!@,22!09!K1,N

,9+0)2"96,-!-5*".0.+!)51-,19!0.-!@0>9!+5!C1599!+6,*P!O0..".;!90>9G!

H5*,.h9!6"9+51>!0.-!4,*"."9+!+6,51>!60=,!25.;!1,2",-!5.!9"*"201!.5+"5.9!54!

,BK,1",.C,!09!*,-"0+".;!),+@,,.!+6,!,BK,1",.C,9!54!9,B(02!5KK1,99"5.!0.-!

+6,!-,=,25K*,.+!54!4,*"."9+!C5.9C"5(9.,99!0.-!09!C1,0+".;!+6,!)09"9!451!

(."+>!51!"-,.+"+>!0*5.;!@5*,.!SWZT!

O0..".;!9"+,9!4,*"."9+9!09!(9".;!,BK,1",.C,!09!+6,!45(.-0+"5.!54!.,@!M.5@2,-;,!0.-!

.,@!C(2+(1,!SWZTP!!&5*,E!65@,=,1E!60=,!C1"+"C"L,-!+6,!.5+"5.!54!,BK,1",.C,E!90>".;!"+!

609!),,.!(9,-!09!(.C5.+,9+0)2,!,="-,.C,E!09!40C+E!0.-!5.,!+60+!,BK25"+9!0.-!

5)d,C+"4",9!F5+6,1.,99fP!!J(+E!@6,.!@,!60=,!"-,.+"+",9!+60+!01,!,9+0)2"96,-!5.2>!)>!

+6,!".-"="-(029!@65!C011>!+6,*R!@659,!)5-",9!01,!5+6,1@"9,!@51M,-!0.-!C25"9+,1,-E!

+6,.!0!K,19K,C+"=,N0!;15(.-".;N54!,BK,1",.C,!"9!=,1>!(9,4(2P!!'+!"9!(9,4(2!".!+6"9!

K01+"C(201!K15d,C+!),C0(9,!"+!"9!.,@E!"+!1,K1,9,.+9!9+51",9!+6,>!60=,!.,=,1!+52-E!+5!

,0C6!5+6,1E!2"M,2>!+5!+6,*9,2=,9E!0.-!.,=,1!09M,-!+5!9601,!"+!5(+!25(-P!!!

%BK,1",.C,E!,9K,C"022>!".!+6,!C09,!54!+6,"1!d5(1.,>9E!+6,!@0>!+6,>h=,!

,BK,1",.C,-!+6,*E!0.-!+6,!@0>9!+6,>!C5.C,K+(02"L,!+6,!d5(1.,>9E!"9!.5+!0.!0CC5(.+!

54!+6,!40C+(02E!2".,01E!10@!,=,.+9!54!0!+1"K!@"+6!0!9+01+!0.-!,.-!K5".+E!)(+!0!d5(1.,>!

".+5!+6,!"..,1!2"=,9!54!;"129!0.-!54!,=,.+9!5(+9"-,!54!-5*".0.+!K0++,19!54!6"9+51>E!09!

@,22!09!5(+9"-,!+6,"1!5@.!C(2+(1,9P!!#6,9,!d5(1.,>9!01,!(."8(,2>!+6,"19R!0.-!965(2-!

),!+6,"19!+5!),!9K5M,.!451P!!!

!

'!-10@!5.!+6,!9"*"201"+",9!+60+!+6,9,!d5(1.,>9!60-!451!,0C6!;"12E!*0".2>E!+6,!

,*5+"5.9!015(.-!".-,K,.-,.C,!415*!+6,"1!40*"2",9!451!+6,!4"19+!+"*,!".!+6,"1!2"=,9P!

! \X!

!

D+!4"19+!'!-,C"-,-!+5!*0M,!+6"9!0C+"="+>!*51,!54!0!;0*,R!),C0(9,!+6,!K5".+E!0+!

2,09+!451!*>!1,095.!451!C1,0+".;!"+E!@09!.5+!+5!1,*,*),1!+6,!,B0C+!0CC5(.+9!54!+10=,2E!

)(+!+5!K20>!@"+6!*,*51>!0.-!"*0;".0+"5.R!+5!K20>!@"+6!0.!,BK,1",.C,N!0!*5*,.+N!".!

+6,"1!2"=,9!+60+!"9!".+,.9"=,2>!".+"*0+,!0.-!K,195.02E!),C0(9,!+6,>!,BK,1",.C,-!"+!

025.,P!!#6"9!+1"KE!451!022!54!+6,*E!@09!0!*5*,.+!+60+!C5*)".,-!0!*"B!54!601-96"KE!

90-.,99E!-10*0+"C!C60.;,E!0.-!0+!+6,!90*,!+"*,E!0-=,.+(1,P!!!

'!),2",=,!"+!"9!)("2-".;!9+51",9!0)5(+!5(1!2"=,9!+60+!0225@!(9!+5!C5.+".(,!2"=".;!

0.-!+5!9+1(;;2,!+615(;6!601-96"KP!!'!@0.+,-!+6,*!+5!K20>!@"+6!"*0;,9E!@"+6!9*,229E!

@6,+6,1!1,02!51!.5+P!!A,*51>!,B"9+9!5.!0!@652,!5+6,1!2,=,2E!0.-!"+!"9!+6"9!2,=,2E!+6"9!

9K0C,E!+60+!'!@0.+,-!+6,*!+5!0CC,99!451!+6"9!0C+"="+>P!!%99,.+"022>E!+6"9!"9!+6,"1!

451;5++,.!;,5;10K6>R!.5+!,=,.!+6,!9"B+,,.!;"129!@65!9601,!+6"9!9K0C,!9601,!+6,!90*,!

+10=,2!15(+,R!+6,>!9601,!0!9+15.;!9"*"201"+>E!+65(;6P!!#6,>!9601,!+6,!25.;!-"9+0.C,9E!

+6,!d5(1.,>E!+6,!2,0=".;!),6".-!54!0!65*,E!0.-!+6,!011"=02!+5!+6"9!C5.=,.+P!!H"+6".!

+6,9,!*"C15!9+51",9E!65@,=,1E!,B"9+!*0.>!-"44,1,.+!1"=,19E!-"44,1,.+!)50+9E!+>K,9!54!

)50+9E!9*,229E!,BK,1",.C,9E!-"9+0.C,9E!0.-!-"44,1,.+!;,5;10K6",9P!

#6,"1!C522,C+"=,!*0K!".!+6,!K1,="5(9!C60K+,1!965@9!+6,!0C+(02!15(+,9R!+6,"1!

*,*51>!54!+6,"1!65*,!="220;,9!0.-!+6,!"*0;".0+"5.!"+!+55M!+5!*0K!0!d5(1.,>E!451!

95*,!.5+!25.;!0;5!0.-!5+6,19!>,019P!!#6,!*0K!965@9!+6,!C522,C+"="+>!+6,>!01,!0)2,!+5!

C1,0+,!@6,.!09M,-!+5E!0.-!+6,!-"9+0.C,9!+60+!+6,9,!;"129!60=,!+10=,2,-P!

!

D22!54!+6,9,!0C+"="+",9!+60+!60=,!+5!-5!@"+6!*0KK".;E!+10=,2!0.-!*5=,*,.+!

C5.+,9+!+6,!4,*"."9+!1,d,C+"5.!54!022!2".,01!0.-!)".01>!S+5!0.!,B+,.+T!+6".M".;P!!#6,9,!

! \W!

0C+"="+",9!C5.+,9+!"+!.5+!5.2>!),C0(9,!+6,>!K1,9,.+!.,@!6"9+51",9E!.,@!;,5;10K6",9E!

.,@!15(+,9E!0.-!.,@!9+51",9E!)(+!0295!),C0(9,!+6,>!01,!(."8(,!,BK,1",.C,9!451!+6,9,!

K01+"C(201!;"129E!5(+9"-,!54!0.>!+10-"+"5.02!K0++,1.!54!+6,"1!C5**(."+",9E!0.-!),C0(9,!

".!+6"9!0C+"="+>E!+6,>!01,!(9,-!09!0!95(1C,!54!@1"+".;!C1,0+"=,!K5,*9P!!H60+!+6,>!@1"+,!

"9!*0+,1"02!451!.,@!9()d,C+"="+",9P!

!

#6"9!0C+"="+>E!K5,*9!0)5(+!+6,!9,.951>!,BK,1",.C,!54!+6,"1!,K"C!d5(1.,>!415*!

65*,!+5!C5.=,.+E!K15="-,-!0!9K0C,E!0.-!1,095.!451!+6,*!+5!),;".!+5!)("2-!0!

1,20+"5.96"K!@"+6!+6,"1!5@.!d5(1.,>!0.-!65@!+6,>!,BK,1",.C,-!"+P!!#6,>!(9,!+6,"1!

5@.!,BK,1",.C,!09!+6,!*0+,1"02!415*!@6"C6!+5E!".!*,*51>!0.-!@1"+".;E!1,+(1.!+5!+6,!

9"+,!54!+6"9!*0d51!d5(1.,>E!+5!1,NK20C,!6,19,24!)0CM!5.!0!)50+!>,019!51!*5.+69!),451,E!

-,9C1")".;!+6,!9*,229E!9";6+9E!+09+,9!+60+!96,!*0>!51!*0>!.5+!60=,!9*,22,-E!9,,.E!51!

+09+,-P!H60+!*0++,19!6,1,!"9!+6,!@0>!+6,>!C6559,!+5!K1,9,.+!+6,"1!,BK,1",.C,!54!+6,!

+1"KP!!#6,"1!9,.9,!54!;"12655-!"9!M,>!+5!(.-,19+0.-".;!+6,!@0>!+6,>!-,K"C+!+6"9!

d5(1.,>!09!0!1"+,!54!K0990;,E!),C0(9,!*59+!0++1")(+,!+6"9!d5(1.,>E!+6,"1!9,K010+"5.!

415*!+6,"1!40*"2>E!0.-!+6,!".-,K,.-,.C,!+60+!C5*,9!@"+6!"+!+5!+6,!-,K01+(1,!54!

;"12655-!09!@,22P!

! ! ! ! ! u!u!u!

351!0!@01*N(KE!'!09M,-!+6,*!+5!@1"+,!0!9"*"2,!0)5(+!+10=,2P!!#6,>!@15+,!+6,"1!

9"*"2,9E!0.-!9601,-!+6,*!".!C2099!04+,1!+,.!*".(+,9!54!)10".9+51*".;!0.-!@1"+".;P!!

#6,.E!".!;15(K9!54!+61,,E!+6,>!60-!+5!+6".M!54!0!*5-,!54!+10.9K51+0+"5.E!@"+6!+@5!

1(2,9G!+6,>!C5(2-!.5+!.0*,!+6,!+10.9K51+0+"5.E!0.-!+6,>!C5(2-!.5+!.0*,!0.>+6".;!

@"+6!9";6+P!!#6,>!C5(2-!5.2>!-,9C1"),!95(.-9E!+09+,9!0.-!9*,229P!J,+@,,.!+6,!+61,,!54!

! \Y!

+6,*E!+6,>!60-!+5!451*!0!+".>!9K5M,.!K5,*!-,9C1")".;!+6,9,!9,.90+"5.9E!@6"2,!+6,!

5+6,1!;15(K9!60-!+5!C022!5(+!@60+!451*!54!+10.9K51+0+"5.!"+!@09P!

!

D4+,1!+6"9!4(.!@01*!(KE!'!+52-!+6,*!+5!@1"+,!0!K5,*!0)5(+!65@!+6,>!011"=,-!0+!

+6,!C5.=,.+E!0!+10=,25;(,E!0.,C-5+,E!K5,*!@6,1,!+6,>!60-!+5!*,.+"5.!0+!2,09+!5.,!

C5251E!5.,!95(.-E!5.,!+09+,E!5.,!9*,22E!0.-!+5!-,9C1"),!".!-,K+6!+6,!)5-"2>!

,BK,1",.C,!54!+6,!-0>9!51!@,,M9!5.!+6,"1!*5-,!54!+10.9K51+0+"5.P!

#6,>!@,1,!=,1>!,.;0;,-!@"+6!+6,!@1"+".;E!4"19+!-10@".;!".-"="-(02!*0K9!54!

@6,1,!+6,>!2,4+!415*E!0.-!+6,.!4"22".;!"+!".!@"+6!+6,!9,.951>!9+51",9P!

!

%*58,.,$

!

!

A012,.,!4"19+!-1,@!+6,!20>5(+!54!6,1!+5@.E!&0.!

I0)1",2!-,!t010-,15E!0.-!+6,.!-1,@!+6,!15(+,!

),+@,,.!65*,!0.-!C5.=,.+!95!96,!C5(2-!4"22!"+!

@"+6!6,1!K5,*E!51!95!+60+!"+!@5(2-!;"=,!6,1!

".9K"10+"5.!451!6,1!K5,*P!!:10@".;!+6,!+5@.!

4"19+!9,,*,-!+5!),!0!@0>!+5!1,*,*),1!+6,!+1"KP!

!

!

!

!

! \^!

!

!

!

A012,.,E!".9K"1,-!)>!5-,N@1"+".;E!C5.+".(,-!+5!@1"+,!02*59+!,=,1>!K5,*!".!

+6,!1,*0".".;!*5.+69!".!0.!5-,N451*E!".C2(-".;!+6"9!K5,*P!!&6,!),;".9!)>!-,9C1")".;!

),".;!5.!+6,!1"=,1!/010.0K(10E!@6,1,!96,!9+5K9!+5!)(>!](0.,9E!0!;1,,.!1"C,!0.-!

C6"CM,.!-"96!C55M,-!0.-!@10KK,-!".!6(;,!)0.0.0!2,0=,9!95!+60+!+6,>!*0>!209+!6,1!

+6,!,.+"1,!+1"KP!

A012,.,!+10=,2,-!+6,!2,.;+6!54!+6,!7"5!/010.0K(10!+5!011"=,!0+!e(1"*0;(09P!!&6,!

1,*,*),19!".!-,+0"2!+6,!95(.-9!54!+6,!1"=,1R!"+!"9!@60+!9+1(CM!6,1!*59+P!!#6,!1"=,19!

9".;9E!F960!960!960fG!

! \_!

!

$$4",0*$#,$8*$88,;*#*$*$X&510*;&*'$$RO$P,50"'"$5U"$Q*5*.*Q&5*$6".$*;&*'$68*5*'$#,$651'(*81.*$6&*.#"$W&,5,0"'$+1*K*5$*$X&510*;&*'$6"0Q5*0"'$^&*.,'$Q*5*$6"0,5$,.$,8$+1*K,]$$@8*0*0"'$,8$?"(,$W&,$0J'$."'$;&'(*]$R1;"$8"'$P,50"'"'$8*;"'$W&,$'&,.*.$*$$'P*O$'P*O$'P*$+1*K"$Q"5$01$P,50"'"$5U"O$,8$"8"5$,'$*8;"$P,50"'"$W&,$6&*.#"$+1*K*0"'$,8$*15,$(5*,$8*'$*50"'$#,$8*'$[8"5,']$$h8$'*?"5$,'$*8;"$6"0"$,8$+1,.("$W&,$6&*.#"$*?5"$01$?"6*$,.(5*$,8$*15,$B$'1,.("$,8$'*?"5$6"0"$,8$6*5*0,8"$0,.(*$$_4"5$%*58,.,]$$

!

!

! \\!

$

!

!

!

!

!

H60+!"9!(."8(,!".!+6"9!5.,!"9!+60+!+6,1,!"9!0!9,.9,!54!,BC"+,*,.+E!54!0!;1,0+,1!

K(1K59,!),>5.-!+6,!&,24E!".!*0M".;!+6"9!d5(1.,>P!!#6,1,!"9!0!4,,2".;!54!@0.+".;!+5!

,*)01M!5.!+6"9!d5(1.,>E!0.-!".!="9(02"L".;!+6,"1!-,9+".0+"5.N+6,!C5.=,.+N!09!0!

2"),10+".;!9K0C,!+60+!@"22!K15="-,!.,@!5KK51+(."+",9!0.-!(."8(,!,BK,1",.C,9P!!'!

@5(2-!*0M,!+6,!d(-;*,.+!+60+!+6"9!9,.9,!54!K(1K59,E!+6"9!C5.9C"5(9.,99!54!0!

K(1K59,!51!1,095.E!"9!95*,+6".;!+60+!*(9+!60=,!-,=,25K*,.+!K59+Nd5(1.,>E!".!+6,!

0C+!54!5,0,0?,51.;E!0.-!K,160K9!.5+!".!+6,!0C+(02!*5*,.+!54!+10=,2P!!#6"9!C5.C,K+E!

51!"-,0!5K,.!+6,!0C+!54!1,*,*),1".;!0.-!@1"+".;!09!0!=,1>!*(C6!02"=,!*5*,.+!0.-!

9K0C,!".!@6"C6!0.!".+1"C0+,!"..,1!2"4,!54!0.!,=,.+!"9!1,=,02,-!.5+!09!0!*,1,!(.452-".;!

54!0!2".,01!,=,.+E!)(+!09!+6,!(.452-".;!54!65@!+60+!,=,.!"9!,BK,1",.C,-E!0.-!65@!+60+!

,=,.+!"9!452-,-!".+5!+6,!C(11,.+!C5.C,K+(02"L0+"5.!0.-!C5.9+1(C+"5.!54!0!;"129h!

"-,.+"+>E!2"4,!0.-!,BK,1",.C,P!

4",0*$#,$6"0"$88,;&,$*$X&510*;&*'$$ _4"5$%*5&$$%1'$Q*#5,'$#,'1#1,5".$0*.(*50,$*$,'(&#1*5$Q*5*$+1+15$,.$,8$6"0?,.("$B$B"$8,'$#1K,$W&,$'1$W&1,5"$150,]$$T8$'1;&1,.(,$$#1*O$01$Q*Q*$?1."$*$X&510*;&*'O$B$."'$#1K"$W&,$(,.,0"'$W&,$+1*K*5]$T8$#1*$'1;&1,.(,$."'$*81'(*?0"'$6".$01$0*0*O$B$,.$8*$(*5#,$."'$[&10"'$*8$4&,5("$*$,'Q,5*5$8*$8*.6P*]$@*$8*.6P*$Q*'"$*$Q*5(15$#,$8*'$f$#,$8*$(*5#,$B$."'$,.?*56*0"'$6".$01$0*0*]$Z&5*.(,$W&,$+1*K*?*0"'O$+1$,.$8*$"5188*$#,8$5U"$&.*$8*.6P*$0&B$+1,K1(*$B$6&*.#"$,'(*?*0"'$0J'$*51?*O$"8U*$&."'$"8"5,'$0&B$516"'`$,5*.$8"'$"8"5,'$#,$&.*'$Q8*.(*'$W&,$,'(*?*.$6".$[8"5O$B$*'1$',;&1*0"'$+1*K*.#"j$"8U*0"'$0&B$516"'$"8"5,'$#,$6"01#"$W&,$+,.#,.$,8$,8$4&,5("$B$,.$8*$+&,8(*$#,$8*$5,0"81.*O$B*$+10"'$'&'$*.(,..*'$#,$X&510*;&*'O$B$*'1$88,;&,$*$X&510*;&*'!!

! \Z!

!

!

'!9,,!65@!"*K51+0.+!51!65@!,K"C!+6"9!d5(1.,>!@09!".!+6,"1!K01+"C(201!2"=,9!".!

+6,!-,;1,,!+5!@6"C6!+6,>!"*0;".,!"+P!!](9+!+6,!+5K"C!54!+6,!d5(1.,>!9K01M,-!

C5.=,190+"5.!0.-!20(;6+,1P!!&5*,!-,9C1"),-!5(+!25(-!+6,!9*,22!54!52-!@5*,.!0.-!

+6,"1!)09M,+9!54!41,96!4"96!2,4+!".!+6,!9(.!022!-0>E!95*,!90"-!"+!@09!-"LL>".;E!,9K,C"022>!

*"B,-!@"+6!+6,!9*,229!54!+6,!;0952".,!54!+6,!*5+519E!51!+6,!9*,22!54!;0952".,!"4!

+10=,22".;!)>!K"CMN(K!+1(CM!51!)(9P!!'.!+6,"1!C5.=,190+"5.9E!+6,>!-,9C1"),-!+6,!5+6,1!

@5*,.!5.!+6,!)50+!51!+1(CM9!09!),".;!=,1>!52-!0.-!+6,"1!)09M,+9!5=,1425@".;!@"+6!

6(;,!1"=,1!+15(+E!15++".;!".!+6,!9(.P!!#6,>!20(;6,-!0+!+6,9,!"*0;,9!+6,>!@,1,!C1,0+".;!

09!+6,>!9K5M,P!!A0.>!+02M,-!0)5(+!+6,!C52514(2!)"1-9!0.-!+6,"1!95.;9E!51!+6,!95(.-!54!

+6,!@0=,9!0+!.";6+P!!&5*,!90"-!+6,>!@0"+,-!022!-0>!+"22!0!)50+!011"=,-E!0.-!,=,.!+6,.!

+6,!)50+!-"-!.5+!9+5K!5+6,19!1(96,-!+5!;10)!+6".;9!09!+6,!)50+!.,01,-!+6,"1!,-;,!54!

="220;,P!!#6,.!+6,>!+02M,-!0)5(+!+6,"1!40=51"+,!0.-!2,09+!40=51"+,!95(.-9G!+6,!95(.-9!

54!+,B+!*,990;,9!".!+6,"1!155*9E!9,.-!8("CM2>!95!+6,!.(.9!@5.h+!6,01!+6,!95(.-E!+6,!

),229!54!+6,!C6(1C6E!+6,!+@5N65(1!K10>,1!54!+6,!C25"9+,1,-!.(.9E!),;"..".;!0+!WGWYP!!

A01"0!7590!90"-!+60+!@6,.!"+!"9!6,1!+(1.!+5!C55ME!96,!+1",9!+5!C55M!@"+65(+!5."5.E!

),C0(9,!96,!60+,9!+6,!9,.90+"5.!54!5."5.!1,9"-(,!5.!6,1!4".;,19P!!#6,>!022!20(;6,-P!!

'.!95*,!,B0*K2,9E!+6,!d5(1.,>E!+6"9!0C+"="+>E!K15-(C,-!0!.0110+"=,!54!

".-,K,.-,.C,E!,*K609"L".;!+6,!9,K010+"5.E!2,0=".;!+6,!40*"2>!0.-!65*,+5@.!

),6".-!+5!2"=,!".!+6,!C5.=,.+!0.-!;5!+5!9C6552E!0.-!".!K01+9E!1,K1,9,.+9!0!)1",4!

C5*".;!54!0;,!*5*,.+!".!+6,"1!2"=,9E!9(C6!09!759"+0h9G!

! Zc!

!

!

759"+0E!5.,!54!+6,!4,@!+5!+10=,2!)>!20.-E!1,C0229!+6,!9*,22!54!;01-,.9!0.-!

425@,19E!0.-!+6,!*(9"C!+60+!5+6,1!K099,.;,19!K20>,-!".!+6,!+1(CMP!!#6,!*0".!45C(9!54!

6,1!K5,*!"9!+6,!,BC"+,*,.+!0.-!0.+"C"K0+"5.!54!+10=,22".;!+5!e(1"*0;(09!0.-!

),;"..".;!6,1!2"4,!".!0!.,@!K20C,P!!&6,!,.-9!6,1!K5,*!@"+6!-,9C1")".;!+6,!,K"C!

4,,2".;!54!011"=".;!0+!+6,!C5.=,.+!0.-!9,,".;!022!+6,!.(.9!".!+6,"1!)15@.!0.-!@6"+,!

60)"+9P!

!

'.!+6,!45225@".;!K5,*E!75Cj5!1,C0229!0.!5=,1@6,2*".;!4,,2".;!54!,BC"+,*,.+!

@6,.!1,0C6".;!e(1"*0;(09G!

! ZU!

!

!

!

351!75Cj5E!+6,!d5(1.,>!+5!e(1"*0;(09!@09!4"22,-!@"+6!,BC"+,*,.+R!+6,!9*,229!

@,1,!2"M,!+60+!54!0!;01-,.E!0.-!+6,!*(9"C!@09!15*0.+"CE!@6"C6!6,2K,-!+5!451;,+!0)5(+!

022!+6,!)0-!+6".;9P!!3".022>E!-0>9!20+,1E!96,!011"=,-!+5!+6,!*59+!,.C60.+".;!C"+>!".!+6,!

@512-E!09!96,!C022,-!"+E!e(1"*0;(09P!

!

!

! ZV!

!

!

!

@"&5#,'$

! ZX!

!

!

!

! ZW!

'.!Q5(1-,9h!K5,*E!+6,!"*K51+0.C,!-5,9!.5+!1,4,1!95!*(C6!+5!+6,!0C+(02!

K6>9"C02!,BK,1",.C,!54!+6,!d5(1.,>E!)(+!".!+6,!C5.+,B+!54!2,0=".;!0.-!6,1!4,,2".;9!0+!

+6,!K15K59"+"5.!54!+10=,22".;!+5!e(1"*0;(09P!!H,!C0.!9,,!+6"9!),C0(9,!96,!45C(9,9!

*51,!5.!+6,!,=,.+!2,0-".;!(K!+5!+6,!d5(1.,>E!.5+!95!*(C6!+6,!K6>9"C02!d5(1.,>P!!&6,!

90>9!+60+!04+,1!4"."96".;!^+6!;10-,E!96,!;10-(0+,-!K1"*01"0P!!:(1".;!C,2,)10+"5.9E!6,1!

(.C2,!C0*,!+5!="9"+!415*!+6,!&0.!Q51,.L5E!0!K51+!+5@.!C259,1!+5!e(1"*0;(09P!!:(1".;!

+6,!K01+>E!6,!K15K59"+"5.,-!+5!Q5(1-,9h!40+6,1!+6,!K599")"2"+>!54!1,C,"=".;!0!),++,1!

,-(C0+"5.!451!6"9!-0(;6+,1E!+5!0!C5.=,.+!6,!M.,@!".!e(1"*0;(09P!!#6,.!+6,!(.C2,!

09M,-!Q5(1-,9!"4!96,!@5(2-!2"M,!+5!C5.+".(,!9+(->".;E!0.-!96,!90"-!>,9P!!D+!+6,!,.-!54!

+6,!K5,*p.0110+"=,E!96,!+0M,9!(9!5.!+6,!)50+E!0.-!-,9C1"),9!+6,!9*,22E!90>".;!+60+!5.!

+6,!8*.6P*!"+!9*,22,-!09!"4!0!K";!60-!,0+,.!95*,+6".;!+09+>P!! !

! !

!

! ZY!

Q5(1-,9!,.-9!"+!)>!+60.M".;!6,1!#j5!70n2!451!6,1!),".;!0+!+6,!C5.=,.+P!!J09,-!

5.!@60+!96,!609!@1"++,.E!"+!-5,9!.5+!9,,*!+60+!+6,!K6>9"C02!+1"K!@09!09!"*K51+0.+!09!

+6,!,=,.+9!2,0-".;!(K!+5!"+E!0.-!+6,!C5.C,K+(02"L0+"5.!54!6,1!K1,9,.C,!".!+6,!C5.=,.+!

09!95*,+6".;!;55-!0.-E!'!@5(2-!01;(,E!2"),10+".;P!!'.!+6"9!,B0*K2,E!+6,!d5(1.,>N!+6"9!

*5*,.+!".!6,1!2"4,N!9,,*9!+5!),!=,1>!"*K0C+4(2!".!65@!96,!-,4".,9!6,1!2"4,!0.-!

9"+(0+"5.P!!$5@!96,!2".M9!+6,!*5*,.+!".!6,1!>5(.;!@5*0.655-!0.-!,-(C0+"5.!54!

60=".;!d(9+!4"."96,-!+6,!^+6!;10-,!965@9!(9!+60+!96,!0995C"0+,9!+6"9!+1"KN+6"9!*0d51!

,=,.+N@"+6!6,1!C5*".;!54!0;,P!

!

%*51*$^"',[1.*$

!

A01"0!]59,4".0E!2"M,!759"+0E!"9!5.,!54!+6,!4,@!+60+!+10=,2,-!*59+2>!)>!20.-E!)(+!

6,1!1,095.!451!),".;!9,.+!0.-!6,1!d5(1.,>!025.;!+6,!@0>!"9!.5!2,99!".+,1,9+".;!+60.!

+659,!+60+!9K,.+!-0>9!5.!@0+,1P!

$71*K,$$%1$+1*K,$,5*$0&B$?".1("O$9".(,0Q8*5$,8$Q*1'*K,$0,$#1+,5(U*O$h'6&6P*5$,8$'".1#"$#,8$6*.("$#,$8"'$4JK*5"']$%,$*8,;5*?*$W&,$h8$6*55"$*+*.M*?*$0J'$B$0J'$4,5"$,8$"8"5$*$;*'"81.*$."$0,$!&'(*?*]$%,$0*5,*?*$8*$6*?,M*$B$0,$Z"81D$,8$,'(D0*;"]$C"$0,$;&'(*$,8$'".1#"$#,$8"'$+,PU6&8"'O$4,5"$0,$;&'(*$,8$"8"5$#,$@*'$[8"5,']$%1$+1*K,$,'$0*;.U[16"$Q*'*.#"$4"5$&.$'1..q0,5"'$#,$61&#*#,'O$

! Z^!

/1.*80,.(,$88,;"$*$X&510*;&*']$$_%*51*$^"',[1.*$!

$,1,!+6,!"*0;,1>!C5(2-!1,42,C+!65@!A01"0!]59,4".0!4,2+!0)5(+!+6,!+1"KP!!#6,!

+1(CM!1"-,!"+9,24!@09!.0(9,0+".;!415*!+6,!9*,22!54!;0952".,!0.-!+6,!95(.-!54!5+6,1!

C019E!)(+!+6,!9*,22!54!425@,19!*0-,!"+!),++,1P!!'+!9,,*9!09!+65(;6!+6,!9*,22!54!425@,19!

02@0>9!*0M,9!(.40=510)2,!9"+(0+"5.9!),++,1!451!+6,9,!;"129P!!D.-E!"4!@,!1,*5=,!@60+!

425@,19!1,K1,9,.+!09!C2"C6m!9>*)529!@,!C0.!9,,!0!-,,K,1!1,095.!451!C5.d(1".;!

425@,19G!!+6,!;"129!9K,.-!65(19!".!+6,!P&,5(*E!C(2+"=0+".;!425@,19E!K20.+9!0.-!10"9".;!

0."*029R!"+!"9!+6,!*59+!,.C259,-!9K0C,!".!+6,!C5.=,.+R!,=,.!+6,!C25"9+,1,-!K01+!9601,9!

0!@022!@"+6!+6,!9+1,,+P!!#6,!P&,5(*!9,1=,9!09!0!M".-!54!1,4(;,P!![=,1022E!96,!90>9!+6,!

+1"K!@09!@5.-,14(2!),C0(9,!96,!@09!0)2,!+5!@"+.,99!022!54!+6,!C"+",9!96,!K099,-E!(.+"2!

4".022>!1,0C6".;!e(1"*0;(09P!

!

D22!54!+6,!;"129!1,C022,-!+6,!+1"K!@"+6!;1,0+!-,+0"2E!*0.>!45C(9".;!5.!+6,!

20.-9C0K,!0.-!;,5;10K6",9!K099,-E!51!+6,!,*5+"5.02!)("2-N(K!),451,!2,0=".;P!![+6,19!

45C(9,-!5.!+6,!.,;0+"=,!9,.90+"5.9!+6,>!4,2+!5.!+6,!+1"KG!

!

71*K,$!

h5*$&.*$P,50"'*$0*F*.*$6&*.#"$+1*K*?*$Q"5$&.*$81.#*$8*.6P*$B$"U*$&.$'".1#"$0&B$[&,5(,$6"0"$&.$(5&,."]$%,$'".*?*$0&B$#1[,5,.(,]$$R8U*$&.$"8"5$%&B$Q"(,.(,$W&,$0,$P1M"$=,.(15$0*8O$6"0"$&.$*.10*8$,.;*+1*#"]$<"W&,$&.*$,.+"8(&5*$B$Q,.'A$W&,$[&,',$E.*$;*88,(*$Q,5"$."$,5*$8"$W&,$B"$4,.'A]$$$

! Z_!

9"0"$,'(*?*$(*.$"'6&5"$8"$W&1',$9"0,5$'1.$"8,58,$Q,5"$(,.1*$&.$'*?"5$%&BO$0&B$#1[,5,.(,]$! ! NA01"0!7590!

!

'.!+6"9!K5,*E!A01"0!7590!45C(9,9!5.!+6,!(.K2,090.+.,99!54!+6,!+1"KE!0.-!54!+6,!

-"90KK5".+*,.+!".!+6,!0@4(2!+09+,!54!@60+!96,!+65(;6+!@09!0!C55M",!@6,.!96,!

1,0C6,-!".+5!0!)0;!+5!,0+!@60+!9,,*,-!,-")2,P!

!

&"*"2012>E!D.+5.",+0!45C(9,9!*0".2>!5.!+6,!9,.951>!-,+0"29!54!+6,!+1"K!"+9,24E!

;"=".;!(9!1"C6!"*0;,9!54!+10=,2!,BK,1",.C,9!".!+6,!1,;"5.G!

!

!

! Z\!

!

!

D.+5.",+0E!UYE!@09!9,.+!+5!+10=,2!+5!e(1"*0;(09!025.,!0!4,@!>,019!0;5P!!&6,!

1,*,*),19!+6,!42551!54!+6,!)50+!),".;!-"1+>!@"+6!90.-!415*!+6,!1"=,1P!!$,1!*0".!

"*0;,!+60+!96,!1,*,*),19!"9!+6,!52-!@5*0.!.,B+!+5!6,1!@65!-1,.C6,-!6,19,24!@"+6!

K,14(*,E!4"22".;!+6,!)50+!@"+6!0!K5@,14(2!5-51E!C5*)".".;!6,1!9C,.+!0.-!+6,!)(CM,+!

54!4"96!96,!C011",-!451!-0>9P!!!

!

'+!"9!".+,1,9+".;!+60+!*0.>!54!+6,!;"129!45C(9!+6,"1!-,+0"2,-!-,9C1"K+"5.9!5.!

52-,1!@5*,.!@65!01,!5.!+6,!)50+9P!!#6"9!C5(2-!),!".!+6,"1!"*0;".0+"5.R!0.!"*0;,!

! ZZ!

+6,>!(9,!09!+6,>!C1"+"C022>!0.-!".+"*0+,2>!-,4".,!+6,"1!5@.!4,*"."."+>!51!+10d,C+51>!

".+5!@5*0.655-E!)(+!"+!C5(2-!0295!),!0!K51+10"+!54!+659,!@65!*0M,!+6,9,!+1"K9!-0"2>R!

+6,!@5*,.!+10.9K51+".;!4"96!415*!+5@.!+5!+5@.P!!#6,!-,+0"29!54!9M".!0;,E!0.-!

52-.,99E!51E!+6,!5KK59"+,!54!+6,*E!01,!,.60.C,-!0.-!=,1>!C1,0+"=,P!

!

&5*,!(9,-!+6,!K5,*!+5!-,9C1"),!*0".2>!+6,!,*5+"5.9!54!2,0=".;!40*"2>!0.-!65*,E!

9(C6!09!'90),2G!

!

!

!

!

A0.>!45C(9,-!5.!+6,!4,,2".;9!+5@01-9!+6,!011"=02E!0.-!2"M,!'90),2h9!K5,*E!5.!+6,!

4,,2".;!54!,.+,1".;!+6"9!C5.=,.+!0.-!9,,".;!+6,!5+6,1!;"129E!2"M,!](0.0G!

$,1,E!"+!"9!02*59+!09!"4!96,!"9!90>".;!

;55-)>,!+5!6,1!65*,+5@.E!)(+!96,!

+,229!"+E!09!@,22!09!6,1!40*"2>E!+5!.5+!+0M,!

"+!+55!K,195.022>E!+60+!+6,1,!@09!.5!

5+6,1!1,095.!451!6,1!+5!2,0=,!,BC,K+!+5!

;,+!0!;55-!,-(C0+"5.P!

'90),2E!2"M,!759"+0!0.-!A01"0!]59,4".0E!"9!

415*!0!65*,+5@.!0CC,99")2,!)>!20.-!

415*!+6,!C5.=,.+E!,BC,K+!451!@6,.!"+!

10".9E!96,!1,*".-9!*,P!

&6,!-,9C1"),9!+6,!95(.-!54!)"1-9E!0.-!

+6,!9@,,+!9*,22!54!+6,!K,14(*,!54!5+6,1!

K099,.;,19P!

!

H6,.!96,!011"=,-E!022!4,01!-"90KK,01,-E!

),C0(9,!96,!.5+"C,-!65@!60KK>!+6,!

.(.9!0.-!5+6,1!;"129!01,E!0.-!96,!;"=,9!

+60.M9!+5!I5-!451!;"=".;!2"4,!+5!+6"9P!

!!

! Ucc!

!

!

! ! ! !

! ! !

9&*.#"$B"$+1*K*?*$,'6&6P,$'".1#"$Z,$6*0Q*.*]$$<&$,5,'$6"0"$'*?"5$#,$6"61#"O$h5,'$6"0"$6"8"5$#,$[8"5$B$(&$)*6,'$',.(15$&.*$8&M$?5188*.(,]$R)$61&#*#$#,$X&510*;&*'O$&.$'"8$9*8"5$0&B$?5188*.(,'O$X$6&*.#"$88,;&A$4"5$Q510,5*$+,M$',.(U$0&B$*8,;5,$B$"5;&88"'*$Z,$("#*'$8*$6P16*']$$S&,$?".1("$*W&U]$$ _4"5$^&*.*

!

! UcU!

!

VU!

#6"9!d5(1.,>!415*!65*,!+5!C5.=,.+!4(.C+"5.9!09!0!1"+,!54!K0990;,P!!#6,!;"129!

-,9C1"),!+6,!C5.=,.+!0.-!e(1"*0;(09!09!0!K20C,!@6,1,!+6,>!@"22!"*K15=,E!;,+!

,-(C0+"5.E!,+CR!)(+!+6,!C5.=,.+!09!0!K20C,!54!"*0;".0+"5.!0.-!"-,02"L0+"5.!609!

0.5+6,1!20>,1G!+6,1,!"9!0295!0!-1,0*!0.-!;1,0+!"*0;".0+"5.!+5!1,+(1.P!!#6,!"*0;".".;9!

54!1,+(1.".;!01,!09!K152"4"C!0.-!-,+0"2,-!09!+659,!54!60=".;!2,4+P!!#6,!=,1>!+6".;!+60+!

9,K010+,9!+6,*!415*!+6"9!C5**(."+>!"9!0+!5.C,!;,5;10K6"C022>!@60+!C5..,C+9!+6,*E!

0.-!0+!+6,!90*,!+"*,!+6,!+6".;!+60+!1,044"1*9!0.-!4(.C+"5.9!09!0!9";."4",1!".!+6,"1!

"-,.+"+",9!09!".-,K,.-,.+!0.-!09!@5*,.!S+6,!1"=,1TP!!'.!+60+!9,.9,E!+6,!1"=,1!"9!0!

)51-,1!+5!),!C1599,-E!.,;5+"0+,-!0.-!1,C1,0+,-!".!-"44,1,.+!@0>9P!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VU!:10@".;!)>!D..0),220!

!

! UcV!

!

#6,!45C(9!5.!+6,!9,.951>!,BK,1",.C,!54!+6"9!d5(1.,>!0295!;"=,9!=5"C,!+5!+6,!

C(2+(102!"-"59>.C109",9!54!+6,!1,;"5.!0.-!54!+6,"1!,BK,1",.C,P!!'+!;"=,9!=5"C,!+5!+6,!

".+"*0+,!C52258("02!95(.-9E!9";6+9!0.-!9*,229!+60+!.5!+6,51,+"C02E!6"9+51"C02!51!

K52"+"C02!+,B+!C5(2-!-,K"C+R!"+!"9!(P,15!,BK,1",.C,!54!+10=,22".;!+615(;6!+6"9!1,;"5.P!

!

'.!0!9,.9,E!+6,"1!d5(1.,>!,BK,1",.C,9!,B"9+!09!9>*)529!),C0(9,!+6,>!-5!.5+!

451;,+!@60+!+60+!d5(1.,>!2,0-9!+6,*!+5!0.-!609!+0M,.!+6,*!0@0>!415*P!!'+!,B"9+9!09!0!

9>*)52!)5+6!".!1,*,*),1".;!+6,!K09+!0.-!"*0;".".;!+6,!4(+(1,P!!H6,.!+6,>!2,0=,!

+6,"1!65*,+5@.9E!+659,!65*,+5@.9!),C5*,!9>*)529!+60+!+6,>!C011>!+615(;65(+!

+6,"1!2"=,9!0.-!1,=,02!+615(;65(+!+6,"1!@1"+".;P!!#6,!1,095.!+6,!d5(1.,>!"9!*51,!

"*K51+0.+!0.-!K1,9,.+!".!+6,"1!2"=,9!0.-!5+6,1!.0110+"=,9!"9!.5+!d(9+!),C0(9,!"+!@09!0!

4(.!+1"KE!)(+!),C0(9,!+6,>!01,!0+!0.!0;,!0.-!K5".+!".!+6,"1!2"4,!@6,1,!+6,>!01,!

-,4".".;!+6,"1!@5*0.655-E!0.-!K01+!54!@60+!+6,>!),2",=,!*0M,9!+6,*!@5*,.!"9!+60+!

+6,>!60=,!2,4+!+6,"1!40*"2",9E!+6(9!255M".;!0+!+6,!d5(1.,>!09!0!1";6+!54!K0990;,!+5@01-!

".-,K,.-,.C,P!

#6"9!0C+(02!d5(1.,>!".+5!0.!(.M.5@.!@512-!0.-!2"4,E!0!.,@!C"+>E!0!.,@!@0>!54!

2"=".;!0.-!),".;!652-9!;1,0+!@,";6+!".!+6,"1!+65(;6+9E!@1"+".;!0.-!"*0;".0+"5.P!!

#615(;6!+6,!*(2+"K2,!"*0;,9!+6,>!K20>!@"+6!0.-!+6,!42096,9!54!*,*51>!+6,>!

.0110+"=,E!@,!;,+!0.5+6,1!9+51>E!0.5+6,1!-,K+6!54!Q0+".!D*,1"C0.!2"+,10+(1,!0.-!

,BK,1",.C,R!0.5+6,1!255M!0+!65@!;"129!),C5*,!@5*,.E!0.5+6,1!255M!0+!65@!@,!

-,4".,!2"+,10+(1,!54!*";10+"5.R!0.5+6,1!255M!0+!C5*".;!54!0;,!".!*01;".02!K20C,9P!!!

! UcX!

! #6"9!C60K+,1!9K,0M9!+5!+6,!C(2+(102!0.-!9,.951>!*,*51>!54!+6,!)51-,19!+6,>!

C1599,-!@6,.!".!),+@,,.!2,0=".;!65*,!0.-!011"=,!0+!+6,!C5.=,.+E!)(+!"+!0--9!

0.5+6,1!)51-,1G!*,*51>P!!:0="-!A0C:5(;022E!".!255M".;!0+!+6,!".+,19,C+"5.9!54!+6,!

)5->!0.-!+6,!"*0;,!90>9E!F[(1!9,,".;!"9!021,0->!-,,K2>!K1,-,+,1*".,-P!!A(C6!54!+6,!

M.5@2,-;,!@,!;0".!+615(;6!="9"5.!0.-!5(1!5+6,1!9,.9,9E!0.-!+6,!@0>!@,!-"1,C+!5(1!

9,,".;E!"9!6";62>!51;0."L,-q*,0.".;!"9!K15-(C,-!)>!5(1!@652,!)5-",9E!.5+!d(9+!)>!

C5.9C"5(9!+65(;6+f!S<P,$9"5Q"5,*8$H0*;,!XTP!!#6"9!,B,1C"9,!609!+5!-5!@"+6!@60+!

A0C:5(;022!C0229!F9,,".;!@"+6!+6,!)5->f!SWTE!95*,+6".;!+60+!K15-(C,9!*(C6!*51,!

+60.!d(9+!0.!"*0;,!51!-"44,1,.+!@0>9!+5!-,9C1"),!+6".;9P!!FH6,.!@,!255M!

K(1K59,4(22>E!0.-!@6,.!@,!+6".ME!@,!C5*K2"C0+,!+6,!K15C,99!54!9,,".;!

,.51*5(92>fSWTE!6,!90>9P!!'.!+6"9!@0>E!1,N9,,".;!415*!+6,!C5.=,.+!0--,-!0!

C5*K2"C0+"5.E!51!0.5+6,1!20>,1E!),C0(9,!"+!0--9!0.5+6,1!)51-,1E!9K0+"022>!09!@,22!09!

+6,!)51-,1!54!*,*51>P!!A,*51>E!".!+6"9!0C+"="+>E!),C5*,9!0.5+6,1!F,>,fE!0.-!,=,.!

0.5+6,1!)5->P!

H1"+".;!0)5(+!0!=,1>!C51K51,02!,BK,1",.C,!415*!+6,!9+0.-K5".+!54!1,NC1,0+".;!

"+!415*!0!-"9+0.+!K6>9"C02!K20C,!C1,0+,9!0!9K0C,!@6,1,!+6"9!,BK,1",.C,E!"+9!9>*)529!

0.-!*,0.".;9!01,!),".;!C5.9+0.+2>!.,;5+"0+,-P!!#65(;6!"+!6";62";6+!+6,!)51-,19!".!

K20C,E!"+!0295!451*9!+6"9!9K0C,!@6,1,!.,@!M.5@2,-;,!0.-!1,20+"5.96"K9!+5!,BK,1",.C,!

01,!C1,0+,-!0.-!,BK1,99,-G!!!

#6,!)5(.-01",9!),+@,,.!5(1!4"19+60.-!,BK,1",.C,9!0.-!+6,!@0>9!".!@6"C6!

@,!1,C022!0.-!1,C1,0+,!+6,*!01,!54+,.!(.C2,01P!!#6,9,!*0>!),!+6,!)5(.-01",9!

),+@,,.!9,.951>!K,1C,K+"5.!0.-!*,*51>q51!),+@,,.!+6,!C51K51,02!0.-!

! UcW!

".C51K51,02P!!7,K1,9,.+0+"5.9!54!,BK,1",.C,!"**,-"0+,2>!C1,0+,!.,@!

,BK,1",.C,9!".!+6,"1!5@.!1";6+!SYT!

'.!5+6,1!@51-9E!),>5.-!d(9+!+6,!9,.951>!,BK1,99"5.!54!1,*,*),1".;!+6,!d5(1.,>!

415*!65*,!+5!C5.=,.+E!,0C6!;"12!),;".9!+5!451*!0!.,@!1,20+"5.96"K!),+@,,.!6,1!&,24!

".!1,20+"5.!+5!+6,!K59"+"5.02"+>!54!+6,!C5.=,.+E!0.-!+6,!,BK,1",.C,!54!011"=".;!0+!+6"9!

K59"+"5.02"+>P!!#6"9!0C+"="+>E!@6"C6!0+!40C,!=02(,!@09!0!K20>4(2!9,.951>N)09,-!

0.,C-5+,!54!+10=,2E!),C0*,!.0110+"=,9!0)5(+!.5+!5.2>!+6,!C(2+(102!0.-!;,5;10K6"C!

)51-,19!C1599,-!+5!011"=,!0+!+6,!C5.=,.+E!)(+!65@!+6,9,!)51-,19!),C5*,!"(P,5!

)51-,19!0.-!-,=,25K!>,+!"(P,5$*,0.".;9!0.-!9>*)529!@6,.!@,!(9,!*,*51>!0.-!

C1,0+"="+>!SC1,0+"5.T!+5!)1".;!+6,*!+5!2"4,P!!Q0(10!A01M9!90>9!+60+!F9,.9,9!01,!C0K0)2,!

54!2,01.".;!0.-!,.C5-".;!*,*51>f!S<P,$=21.$"[$/180$_T!0.-!+6(9!C011>".;!5(1!9,.9,9!

+615(;6!+6,!C1,0+"=,!K15C,99!54!*,*51>E!0.-!1,*,*),1".;!+6,*!0.-!1,C1,0+".;!

+6,*!+615(;6!@1"+".;!0225@9!451!+6,!1,*,*),1".;!54!+6,!d5(1.,>!+5!1,42,C+!S51!

C1,0+,T!+6,!*(2+"N20>,1-.,99!54!+6,!0C+(02!,BK,1",.C,P!!!!

! UcY!

22

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VV!%2,.0E!U_E!Q,++,1!@1"+".;!0C+"="+>!

! Uc^!

Chapter 5 / Capítulo 5

“Hoy Nació Una Niña Hermosa y Rebelde”:

Narratives of Transformation

Warm-Up Calentamiento -Write a simile -Escribe un símil sobre Yurimaguas

about Yurimaguas

! Uc_!

Hoy Nació Una Niña Hermosa y Rebelde23

:

Narratives of Transformation

“Why do certain events become central memories,

part of the core life story we create about ourselves?”

-Pat Mora, “House of Houses”

24

!

#5-0>h9!0C+"="+>!@09!+5!@1"+,!.0110+"=,9!54!+10.9451*0+"5.P!!'!09M,-!+6,!;"129!

+5!+1>!0.-!@1"+,!0)5(+!0!+10.9451*0+"5.!(.-,1;5.,!".!e(1"*0;(09E!),C0(9,!'!@09!

65K".;!9K,C"4"C022>!451!.0110+"=,9!5.!+10.9"+"5.".;!415*!;"12655-!".+5!@5*0.655-P!!

H60+!'!;5+!".9+,0-!@,1,!*(2+"K2,N20>,1,-!.0110+"=,9!@6,1,!+6"9!+10.9"+"5.!@09!5.,!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VX!D.+5.",+0E!UW!VW!/"C+(1,9!+0M,.!)>!*,E!](2>!VcUU!

! Uc\!

S0!=,1>!"*K51+0.+!5.,T!20>,1!54!*0.>P!!#6,"1!.0110+"=,9!,.-,-!(K!9K0..".;!9,=,102!

K20C,9E!.5+!d(9+!e(1"*0;(09P!!

J,451,!d(9+!09M".;!+6,*!+5!+6".M!0)5(+!0!+10.9451*0+"5.!".!+6,"1!2"=,9E!'!

@0.+,-!+5!9,,!+6,!M".-!54!C5*".;N54N0;,!9+51",9!+6,>!60=,!51!+60+!+6,>!@5(2-!+,22!

0)5(+!e(1"*0;(09P!!'!9,,!415*!+6,"1!+10=,2!K5,*9!0.-!415*!+6,"1!".=,.+,-!2,;,.-9E!

+60+!+6,"1!*5=,!415*!65*,!+5!C5.=,.+!@09!0!*0d51!+10.9"+"5.!".!+6,"1!2"=,9E!)(+!'!

@0.+,-!+5!9,,!+6,!M".-!54!C5*".;N54N0;,!,BK,1",.C,9!+6,>h=,!60-!9".C,!+6,>h=,!

011"=,-P!!!

3"19+E!09!0!C1,0+"=,!)10".9+51*".;!@01*N(KE!'!09M,-!+6,*!+5!@1"+,!0!9"*"2,!

0)5(+!e(1"*0;(09E!),C0(9,!'!@0.+,-!+6,*!+5!+10.9"+"5.!415*!K1,="5(9!0C+"="+",9!+5!

9+01+!+6".M".;!0)5(+!@6,1,!+6,>!01,!1";6+!.5@E!0.-!0295!+5!C5.9"-,1!+6,!".42(,.C,!5.!

.5+!5.2>!+6,!C5.=,.+E!)(+!5.!+6,!+5@.!"+9,24E!".!+6,"1!2"=,9P!!H60+!+6,>!,.-,-!(K!

@1"+".;!@09!C5*K2,+,2>!-"44,1,.+P!![.2>!015(.-!6024!@15+,!0)5(+!e(1"*0;(09E!0.-!

415*!+6"9!6024E!*59+!@15+,!0)5(+!+6,!0C+(02!+10=,2!415*!65*,!+5!C5.=,.+!09!+6,!

+10.9451*0+"5.P!![+6,19!@15+,!0)5(+!+10.9451*0+"5.9!)0CM!65*,E!@6,+6,1!"+!@09!

1,02"L".;!0!41",.-96"K!60-!,.-,-E!51!5+6,1!".C"-,.+9!54!40*"2>!2"4,P!!'.!022!54!+6,!

,B0*K2,9E!65@,=,1E!+6,1,!01,!*(2+"K2,!20>,19!54!,*5+"5.9!0.-!-,+0"29!C5.=,>,-P!!

7,0-".;!+615(;6!022!54!+6,*!0;0".!0.-!0;0".E!'!1,02"L,!+60+!02+65(;6!+6,>!10.;,!415*!

*0.>!+5K"C9E!+6,>!9+"22!1,42,C+!;"12655-E!+6,!+,.9"5.9!54!;"12655-!"+9,24E!0.-!

+10.9"+"5.".;!5(+!54!;"12655-P!

!

%012",1!+60+!*51.".;E!'!@02M,-!5=,1!+5!+6,!?0L01,+6!C5K>!C,.+,1E!-5@.!+@5!

-"1+!150-9!+60+!C5..,C+!+6,!C5.=,.+!+5!+6,!K52"C,!9+0+"5.E!+5!K"CM!(K!+6,!C5K",9!54!

! UcZ!

F<.0!&0.+0!?5C6,f!SUZZ^T!)>!&0.-10!O"9.,159E!0!9651+!9+51>!0)5(+!0!A,B"C0.N

D*,1"C0.!;"12!@65!"9!".!C601;,!54!9,22".;!+6,!"+,*9!54!+6,!40*"2>!K15-(C,!C01+P!!

:(1".;!5.,!54!6,1!1(.9E!96,!"9!9,-(C,-!)>!0.!52-,1!*0.!@65!+,229!6,1!9+51",9!54!),".;!

0!-,9C,.-,.+!54!A0>0.!;5-9P!!&6,!;,+9!K1,;.0.+E!0.-!6,1!;10.-*5+6,1!9,.-9!6,1!

)0CM!+5!A,B"C5E!@6,1,!+6,>!60-!5.C,!2,4+!),C0(9,!+6,!;"129h!*5+6,1!60-!),,.!

K1,;.0.+P!

#6,!+61,,!)5>9!@65!1(.!+6,!C5K>!C,.+,1E!022!(.-,1!U\E!09M,-!"4!+6,>!C5(2-!*0M,!0!4,@!

,B+10!C5K",9!451!+6,*9,2=,9E!),C0(9,!+6,>!1,022>!2"M,-!+6,!9+51>P!!'!+52-!+6,*!+5!;5!

06,0-P!

!

#6,!;"129!25=,-!+6,!9+51>E!02+65(;6!@,!9+5KK,-!*0.>!+"*,9E!),C0(9,!+6,>!

@,1,!C5.4(9,-!54!@6>!+6,1,!@,1,!@51-9!".!%.;2"96!0.-!&K0."96P!!#6"9!9+01+,-!0!

C5.=,190+"5.!0)5(+!20.;(0;,P!!'!09M,-!+6,*!"4!+6,>!,=,1!+6".M!".!+6,"1!.0+"=,!

20.;(0;,!"4!+6,>!,=,1!C0.h+!4".-!0!@51-!".!&K0."96E!51!"4!+6,>!@0.+!+5!+6".M!0!+65(;6+!

95!K1"=0+,!+60+!.5!5.,!,29,!C5(2-!,=,.!;(,99P!!A0.>!54!+6,*!90"-!>,9E!+60+!+6,"1!

".-";,.5(9!20.;(0;,!*"B,9!".P!!#6,>!@,1,!9(1K1"9,-!+5!2,01.!+60+!+6"9!60KK,.9!".!0!

25+!54!K20C,9P!!'!+52-!+6,*!0)5(+!?,@!A,B"C5N!+60+!*>!C2099,9!01,!54+,.!)5+6!%.;2"96!

0.-!&K0."96E!0.-!+60+!".+1";(,-!+6,*P!!75Cj5!K5".+,-!5(+!+60+!+60+!"9!0!;55-!+6".;E!

0.-!+60+!.5@!+6,1,!"9!.5!@0>!'!C5(2-!,=,1!259,!0!20.;(0;,P!!?5+!2"M,!6,1,E!96,!90"-P!!

#6,1,h9!5.2>!5.,!&60@"!C2099!+0(;6+E!0.-!+6,!+,0C6,1!-5,9.h+!,=,.!9K,0M!&60@"P!!

#6,>!022!20(;6,-P!!'!+52-!+6,*!.5+!+5!@511>E!+60+!+60+!0295!60KK,.9!,=,1>@6,1,P!

!

! UUc!

#6,>!@,1,!0295!409C".0+,-!)>!+6,!0.+0;5."9+N!FJ5>!J0)>fE!@65!C20"*,-!+5!),!0!

-,9C,.-,.+!54!A0>0.!I5-9P!!75Cj5E!@65!"9!52-,1!+60.!*59+!54!+6,!5+6,1!;"129!90"-!

F)(,.5!C6"C09E!06510!>0!90),.!8(,!60C,1!9"!(.!C6"C5!+,!-"C,!8(,!,9!-,9C,.-",.+,9!-,!

259!-"59,9!".C0q.5!60>!8(,!C1,,125vf!!#6,>!d5M,-!+60+!"4!0!)5>!90>9!6,!"9!0.!'.C0!;5-E!

-5.h+!),2",=,!6"*P!!!

!

'.!+6,!9+51>!F<.0!&0.+0!?5C6,fE!'!-"-!.5+!@0.+!+5!45C(9!09!*(C6!5.!+6,!

9,B(022>!0)(9"=,!.0+(1,!54!+6,!,BK,1",.C,!54!+6,!K15+0;5."9+!".!+6,!9+51>E!)(+!10+6,1E!

65@!96,!C6559,9!+5!+02M!0)5(+!6,1!,BK,1",.C,E!0.-!@60+!M".-!54!+10.9451*0+"5.9!96,!

;5,9!+615(;6P!!'!09M,-!+6,*!+5!255M!C259,2>!0+!+6,!>5(.;!K15+0;5."9+h9!=5"C,E!0.-!65@!

96,!C659,!+5!+02M!0)5(+!6,1!,BK,1",.C,9P!!3"19+E!@,!-"9C(99,-!@6,+6,1!96,!-"-!

,BK,1",.C,!0!+10.9451*0+"5.P!!'!09M,-!+6,*!+5!+6".M!0)5(+!+6,!.0110+"=,!"+9,24E!0.-!

0)5(+!;"129h!1";6+9!+5!+,22!+6,"1!5@.!9+51",9P!!#6,>!022!0;1,,-!+60+!6,1!9+51>!

1,K1,9,.+,-!0!+10.9451*0+"5.P!!$5@i!'!09M,-P!!:5,9!"+!*0M,!>5(!+6".M!54!>5(1!5@.!

+10.9451*0+"5.9!".!2"4,i!

#6,1,!@,1,!0!4,@!9,C5.-9!54!9"2,.C,E!0.-!A0.(,20!9K5M,!(KE!90>".;!!

F&"E!0.+,9!,10!(.0!K0+"+0E!>!06510!95>!(.0!K0+090vfP!

D4+,1!@,!022!20(;6,-E!A0.(,20!90"-!+60+!96,!M.,@!*0.>!;"129!@65!60-!),,.!0)(9,-!

2"M,!+6,!K15+0;5."9+!".!+6,!9+51>P!!#6"9!9K01M,-!0!25+!54!C5.=,190+"5.E!@6,1,!*0.>!

0;1,,-!0.-!90"-!+60+!+6,>!0295!M.,@!*0.>!;"129!@65!60=,!),,.!0)(9,-P!!75Cj5!0--,-E!

F)(+!.5!5.,!-5,9!0.>+6".;!0)5(+!"+fP!

D9!+6"9!C5.=,190+"5.!@09!9+01+".;!+5!+10"2!544E!'!09M,-!+6,*!@60+!+6,>!4,2+!@09!

*,0.+!+5!),!*51,!"*K51+0.+!".!+6,!9+51>G!+6,!,=,.+9!+60+!+55M!K20C,E!51!6,1!.0110+"=,!

! UUU!

015(.-!+6,!,=,.+9i!!'!09M,-!+6,*!+5!C5.9"-,1!65@!+6,!K15+0;5."9+!+02M9!0)5(+!J5>!

J0)>E!0.-!+6,>!K5".+,-!5(+!+60+!96,!.,=,1!0C+(022>!90>9!0.>+6".;!)0-!0)5(+!6"*P!!!

e,99"C0!90"-!96,!+65(;6+!@60+!@09!"*K51+0.+!@09!6,1!9+51>!0)5(+!"+E!),C0(9,!96,!

.,=,1!1,022>!,BK1,99,9!0.!5K"."5.E!96,!d(9+!+,229!0!9+51>P!!'!2,+!022!+6,!8(,9+"5.9!9"+!

+6,1,E!0.-!+6,.!'!09M,-!+6,*!+5!)10".9+51*!0)5(+!0!+10.9451*0+"5.!+6,>!60=,!

,BK,1",.C,-E!0.-!5.C,!+6,>!60=,!-5.,!+6"9E!+5!+(1.!@60+!+6,>!60=,!C659,.!".+5!0!

9651+!9+51>!.0110+"=,!".!@6"C6!0!C6010C+,1!;5,9!+615(;6!+60+!90*,!

,BK,1",.C,p+10.9451*0+"5.P!

!

#6,!1,095.!@6>!+(1.".;!0.!,BK,1",.C,!".+5!0!.0110+"=,!@09!0.-!"9!95!

C5*K,22".;E!"9!+60+!"+!1,=,029!+6,!409C".0+".;!+,.9"5.9!),+@,,.!0!K,195.!0.-!+6,!@0>!

96,!K,1C,"=,9!6,1!5@.!2"4,!9+51>!+5!),P!!J,".;!09M,-!+5!+(1.!>5(1!2"4,!6"9+51>!51!0!

9K,C"4"C!,BK,1",.C,!".+5!4"C+"5.E!51!".+5!0!9651+!9+51>!.0110+"=,!1,=,029!+6".;9!+60+!

*59+!2"M,2>!5+6,1@"9,!@5(2-!.5+!),!1,=,02,-!+615(;6E!2,+h9!90>!0.!".+,1=",@P!!D.-E!

@60+!+6,>!C659,!+5!@1"+,!0)5(+!0295!1,=,029!0!25+!0)5(+!@6,1,!+6,>!9+0.-!".!+6,"1!

5@.!2"4,!0+!+6,!*5*,.+P!!D9!'!@0+C6,-!+6,*!@1"+,!+6"9!099";.*,.+E!0.-!;";;2,!0.-!

C5*K01,!+5!,0C6!5+6,1!65@!1,=,02".;!51!65@!".+"*0+,!@09!+6,!,BK,1",.C,!+6,>!

C659,!+5!+(1.!".+5!0!9+51>E!'!K59,-!+6,!8(,9+"5.!+5!*>9,24G!@60+!@5(2-!'!@1"+,!0)5(+i!!

H60+!@5(2-!'!60=,!@1"++,.!0)5(+!0+!UVi!D+!UYi!!D.-!2"M,!+6,!8(,9+"5.!+60+!/0+!A510!

09M9!".!F$5(9,!54!$5(9,9fG!FH6>!-5!C,1+0".!,=,.+9!),C5*,!C,.+102!*,*51",9E!K01+!54!

+6,!C51,!2"4,!9+51>!@,!C1,0+,!0)5(+!5(19,2=,9if!SU\_TP!!$5@!-5!+6,9,!9651+!9+51>!

.0110+"=,9!)>!+6,9,!;"129!451*!0!K01+!54!+6,!C51,!2"4,!9+51>!+60+!+6,>!C1,0+,!0)5(+!

(P,0',8+,'i!!H60+!-5!+6,>!1,=,02!*51,!+60.!d(9+!0!9K,C"4"C!".C"-,.+i!

! UUV!

!

#6,!9651+!.0110+"=,9!+6,>!0C+(022>!@15+,!965@!+60+!+6,1,!".!40C+!C5(2-!60=,!

),,.!0!*0.>!-"44,1,.+!15(+,9!+6,"1!9+51",9!C5(2-!60=,!;5.,R!+6,1,!"9!.5!5.,!9".;2,!

+6,*,!54!,0C6!9+51>E!0.-!.,"+6,1!"9!+6,1,!9+1"C+2>!5.,!9".;2,!+10.9451*0+"5.!1,=,02,-P!!

J(+!@60+!@09!5)="5(9!@09!+6,!2"+,101>!.0110+"=,!+,.9"5.!),+@,,.!,0C6!;"12p0(+651!

0.-!+6,!C6010C+,1!96,!*0-,!54!6,19,24!S,=,.!".!+6,!9+51",9!@1"++,.!".!+6,!4"19+!

K,195.TP!!#6,!2".,!@09!.5+!9+1"C+!),+@,,.!&,24!0.-!C6010C+,1P!!H"+6".!02*59+!,=,1>!

,B0*K2,E!>5(!C0.!4,,2!+6,!*5*,.+!@6,.!+6,>!"**,19,-!+6,*9,2=,9!".!0.5+6,1!

C6010C+,1E!0.-!+6,.!+6,!*5*,.+!@6,1,!6,1!=5"C,!@09!+6,!=5"C,!54!6,19,24!09!0(+651P!!

#6"9!+,.9"5.!@09!;55-E!+65(;6E!0.-!'!),2",=,!"+!0295!C5*,9!415*!+,.9"5.9!".!+6,"1!

5@.!2"=,9!09!;"129!*0+(1".;!".+5!@5*0.655-P!!!#(1.".;!+6,*9,2=,9!".+5!C6010C+,19E!

51!@1"+".;!+6"9!,BK,1",.C,!09!0!9+51>E!".!9+51>N451*E!"9!C1(C"02!".!0225@".;!+6,*!+5!9,,!

+6,!*0.>!-"44,1,.+!@0>9!+5!+,22!0!9+51>E!0.-!+5!0295!=",@!+6,"1!2"4,!

,BK,1",.C,9p6"9+51>!09!@51+6>!54!K15-(C".;!9+51>!0.-!2"+,10+(1,P!

!

#6,"1!.0110+"=,9!54!+10.9451*0+"5.!1,=,02!+6,!-"9+".C+!0.-!(."8(,!.0+(1,!54!

C5*".;N54N0;,!,BK,1",.C,9!451!,0C6!;"12P!!#6,>!@15+,!9651+!.0110+"=,9!0)5(+!

),C5*".;!0-52,9C,.+9E!C5*".;!+5!+,1*9!@"+6!.,;2,C+4(2!40+6,19!0.-!9,K010+".;!

40*"2",9E!5.!;,++".;!(9,-!+5!+6,!C5.=,.+!0.-!60=".;!+5!9601,!0!9K0C,!@"+6!95!*0.>!

5+6,1!;"129E!5.!65@!5.,!C6010C+,1h9!C5.C,K+!54!41",.-96"K!C60.;,-!04+,1!),".;!9,.+!+5!

2"=,!".!+6,!C5.=,.+!),C0(9,!6,1!C5(9".!4,22!".!25=,!@"+6!6,1E!01,!0*5.;!*0.>!+6,*,9!

+60+!+6,9,!;"129!,BK1,99,-!+65(;6!9651+!9+51>!.0110+"=,9P!!#6,>!@,1,!95!409C".0+,-!)>!

+6,!@0>!&0.+0!?5C6,!@09!.0110+,-E!+60+!+6,>!,.-,-!(K!452-".;!+6,!9+51>!".+5!+6,"1!

! UUX!

5@.!".!=,1>!".+,1,9+".;!@0>9P!!F<.0!&0.+0!?5C6,f!),;".9!@"+6G!d="?5,$8*$+,5#*#3$SUTE!

@6"C6!"9!95*,+6".;!*59+!54!+6,!;"129!".C2(-,-!0+!+6,!),;"..".;!54!+6,"1!9+51",9P!

!

#6,!45225@".;!01,!,B0*K2,9!54!+6,"1!@51MG!

!

@"&5#,']$

Q5(1-,9h!K",C,E!,.+"+2,-!F<.0!+10.9451*0C"o.!8(,!*,!60!K090-5fE!),;".9!".!

4"19+!K,195.!.0110+"=,!".!6,1!C5**(."+>!54!l0K5+,E!@6,1,!96,!90>9!+60+!,=,1>!

&(.-0>E!6,1!*5+6,1!@5(2-!+0M,!6,1!+5!9K,.-!+"*,!@"+6!6,1!;10.-*5+6,1P!!&6,!

-,9C1"),9!6,1!;10.-*5+6,1h9!65(9,E!0.-!90>9!+60+!6,1!@,,M2>!="9"+9!6,2K,-!,09,!6,1!

;10.-*5+6,1h9!25.,2".,99P!!&6,!90>9!+60+!.5@!+60+!96,!"9!;15@.E!96,!609!1,02"L,-!+60+!

96,!@0.+9!+5!2"=,!+5!6,2K!6,1!40*"2>P!!&6,!90"-!+60+!+6"9!-,9"1,!"9!54+,.!-"44"C(2+!@6,.!

2"=,-!5(+E!),C0(9,!02+65(;6!96,!@0.+9!+5!60=,!*0.>!41",.-9E!96,!M.5@9!96,!609!+5!

45C(9!5.!9+(->".;!0.-!;,++".;!0!;55-!d5)!95!+60+!96,!-5,9.h+!9+0>!g0+!+6,!)5++5*hP!!&6,!

90>9!6,1!K01,.+9!,.C5(10;,!6,1!+5!9+(->!0.-!+5!*0M,!95*,+6".;!54!6,1!2"4,E!0.-!451!

+6"9!1,095.E!96,!-5,9.h+!+6".M!96,!C5(2-!,=,1!4022!".!25=,E!),C0(9,!+60+!@5(2-!+0M,!6,1!

0@0>!415*!),C5*".;!95*,+6".;!".!2"4,P!!&6,!@"22E!65@,=,1E!*0M,!9(1,!+5!60=,!

41",.-9P!!#60+!"9!65@!96,!,.-9!+6,!9+51>P!

!

G"'1(*$

$

759"+0E!@65!"9!+6,!>5(.;,9+!*,*),1!54!+6,!C5.=,.+E!0+!+@,2=,!>,019!52-E!

@1"+,9!6,19!".!+6,!4"19+!K,195.!.0110+"=,P!!$,1!9+51>!"9!0)5(+!0!>5(.;!;"12!@65!"9!

! UUW!

),C5*".;!0.!0-52,9C,.+E!0.-!+6,!9+51>!+0M,9!(9!+615(;6!022!6,1!C60.;,9P!!'.!5+6,1!

@51-9E!6,1!)";;,9+!+10.9451*0+"5.!09!96,!+6".M9!54!"+!0+!+6"9!K5".+!".!6,1!2"4,E!"9!

95*,+6".;!=,1>!K1,9,.+E!@6,1,09!+6,!52-,1!;"129!C6559,!5.;5".;!+6".;9!51!+6".;9!54!

+6,!K09+P!!759"+0!9,,9!6,19,24!09!;5".;!+615(;6!0!+10.9451*0+"5.!1";6+!.5@P!!!

$5@,=,1E!96,!90>9!+60+!+6,!+10.9451*0+"5.!96,!"9!0)5(+!+5!+,22!60KK,.,-!0!

25.;!+"*,!0;5E!0.-!+60+!96,!609!C60.;,-!95!*(C6!9".C,!+6,.P!!&6,!"9!+02M".;!0)5(+!6,1!

+10.9"+"5.!".+5!0-52,9C,.C,P!!!

H6,.!95*,5.,!),C5*,9!0.!0-52,9C,.+E!96,!90>9E!,=,1>+6".;!),;".9!+5!

C60.;,P!!351!,B0*K2,E!@,!-5.h+!@0.+!+5!),!9,,.!@"+6!5(1!60"1!(.C5*),-E!51!@,01".;!

C25+6,9!@"+6!652,9!".!+6,*P!![.,!54!+6,!*0d51!C60.;,9E!96,!90>9E!"9!5.,!+60+!96,!609!

6,01-!415*!5+6,19G!+60+!@6,.!5.,!,.+,19!0-52,9C,.C,E!5.,!),;".9!+5!4022!".!25=,!0.-!

+5!60=,!)5>41",.-9P!!&6,!609!-"9C5=,1,-E!65@,=,1E!+60+!+60+!"9!.5+!.,C,9901"2>!+1(,R!

96,!609!.5+!4022,.!".!25=,!>,+E!95!+60+!K15=,9!+60+!0-52,9C,.C,!C0.!C5*,!".!*0.>!

451*9P!!&6,!90>9!+60+!6,1!+10.9"+"5.!".+5!0-52,9C,.C,!609!),,.!-"44,1,.+!+60.!*59+E!

)(+!9+"22E!96,!1,C5**,.-9!"+!451!,=,1>5.,E!0.-!96,!90>9!+60+!@5*,.!965(2-!.5+!),!

,*)011099,-!0)5(+!+6"9!+10.9"+"5.E!),C0(9,!"+!"9!.0+(102!0.-!@,!965(2-!),!K15(-!54!

"+P!!!

! UUY!

!

%*58,.,$

!

A012,.,h9!9651+!.0110+"=,!"9!,.+"+2,-!FA"!C(,.+5!(.!-j0!,.!*"!K(,)25fP!!

A012,.,h9!5@.!9+51>!"9!=,1>!".+,1,9+".;!),C0(9,!96,!60-!021,0->!),,.!2"=".;!".!

e(1"*0;(09!),451,!C5*".;!+5!2"=,!".!+6,!C5.=,.+P!!&6,!"9!+6,!5.2>!;"12!@65!-"-!.5+!

*5=,!+5!e(1"*0;(09!9K,C"4"C022>!+5!2"=,!".!+6,!C5.=,.+P!!$,1!40+6,1!"9!0!+,0C6,1!@65!

+10=,29!015(.-!*0.>!+5@.9P!!&6,!),;".9!6,1!9+51>!0)5(+!@6,.!96,!@09!45(1!>,019!

52-E!6,1!40+6,1!-,C"-,9!+5!*5=,!+5!e(1"*0;(09!95!+60+!A012,.,!C5(2-!;5!+5!0!;55-!

9C6552!0.-!+5!60=,!0!K,1*0.,.+!K20C,!@6,1,!A012,.,!0.-!6,1!*5+6,1!C5(2-!2"=,!

@6"2,!6,1!40+6,1!+10=,22,-!+,*K5101"2>P!!H6,.!96,!@09!UVE!+6,>!-,C"-,!+5!*5=,!)0CM!

+5!+6,"1!65*,+5@.P!!A012,.,!45C(9,9!5.!+6,!-,9C1"K+"5.9!54!6,1!41",.-9!@65*!96,!

60-!.5+!9,,.!9".C,!96,!2,4+!0+!0;,!45(1P!!&6,!@1"+,9!0)5(+!0!)5>!C5*".;!(K!+5!6,1!0.-!

!

! UU^!

09M".;!6,1!"4!96,!@09!0225@,-!+5!K20>P!!&6,!90"-!>,9E!0.-!+6,>!9K,.+!022!-0>!+5;,+6,1!

,BK251".;!+6,!+5@.P!!!

&6,!-,9C1"),9!),".;!".!0!+5@.!4,9+"=02E!@6,.!+6,!90*,!)5>!C0*,!(K!+5!6,1!0.-!

09M,-!6,1!+5!-0.C,P!!&6,!1,9"9+,-E!90>".;!96,!-"-.h+!M.5@!65@!+5!-0.C,E!)(+!6,!

,=,.+(022>!C5.=".C,-!6,1P!!'.!+6,!C5(19,!54!+6,!4,@!65(19!54!-0.C".;E!96,!90>9!+60+!6,!

4,22!".!25=,!@"+6!6,1P!!$5@,=,1E!"+!C5(2-!.5+!,.-!60KK"2>E!),C0(9,!+6,>!955.!1,02"L,-!

+60+!+6,>!@,1,!C5(9".9P!!D4+,1!+6"9!".C"-,.+E!A012,.,h9!40+6,1!-,C"-,-!"+!@09!),9+!451!

6,1!+5!1,+(1.!+5!e(1"*0;(09E!@6,1,!96,!.5@!2"=,9!".!+6,!C5.=,.+P!

#6"9!9+51>!"9!".+,1,9+".;E!),C0(9,!+6,1,!01,!*0.>!+10.9451*0+"5.9E!0.-!"+!"9!

.5+!8("+,!C2,01!,B0C+2>!@6"C6!5.,!96,!"9!45C(9".;!5.G!1,02"L".;!+6,!)5>!".!25=,!@"+6!

6,1!"9!6,1!C5(9".E!1,+(1.".;!+5!6,1!65*,+5@.!04+,1!95!*0.>!>,019E!51!6,1!9,C5.-!

*5=,!+5!e(1"*0;(09P!

!

%*51*$^"',[1.*$

$

A01"0!]59,4".0h9!9+51>!9601,9!9"*"201"+",9!@"+6!A012,.,h9!9+51>P!!$,1!9+51>!"9!

*51,!54!0!2599!54!"..5C,.C,!0.-!C5*".;!54!0;,!".+5!0-(2+655-E!0.-!54!60=".;!+5!-,02!

@"+6!+6".;9!5.,9,24P!!&6,!),;".9!6,1!9+51>!)>!90>".;!+60+!".!6,1!65*,+5@.E!96,!

-,=,25K,-!0!=,1>!C259,!1,20+"5.96"K!@"+6!6,1!C5(9".P!!#6,>!K20>,-!+5;,+6,1E!0.-!

,=,.+(022>!+6,>!),C0*,!),9+!41",.-9P!!#6,>!C5.4"-,-!022!+6,"1!9,C1,+9!+5!,0C6!5+6,1E!

0.-!+6,"1!41",.-96"K!;1,@!+1,*,.-5(92>P!![.,!-0>E!96,!90>9E!95*,+6".;!6511")2,!

60KK,.,-P!!$,!4,22!".!25=,!@"+6!6,1P!!A01"0!]59,4".0!@1"+,9!+60+!96,!@09!0KK022,-!0+!

! UU_!

+6"9E!0.-!+60+!96,!),;0.!+5!60+,!6"*P!!H6,.!6,1!K01,.+9!45(.-!5(+E!+6,>!@,1,!=,1>!

(K9,+E!0.-!*0-,!"+!95!+60+!+6,>!01,!.5!25.;,1!".!,0C6!5+6,1h9!2"=,9P!!!

&6,!+6,.!96"4+9!+6,!.0110+"=,!+5!+02M!*51,!0)5(+!6,1!2"4,!".!6,1!65*,+5@.E!0.-!0)5(+!

+6,!9*022!+1"K9!0.-!0-=,.+(1,9!96,!+55M!@"+6!6,1!40*"2>P!!&6,!90>9!96,!@09!=,1>!

60KK>E!0.-!96,!60-!*0.>!41",.-9!0.-!0!;55-!1,20+"5.96"K!@"+6!6,1!40*"2>P!!

%=,1>+6".;!C60.;,-E!96,!90"-E!@6,.!96,!@09!9,.+!+5!+6,!C5.=,.+!+5!9+(->P!!&6,!90>9!

96,!@09!=,1>!90-!@6,.!96,!@09!9,.+!0@0>E!0.-!+60+!96,!9+"22!609!.5+!;5++,.!(9,-!+5!

"+E!)(+!+60+!96,!K(+9!".!022!+6,!,4451+!96,!C0.P!

!

H'*?,8$

!

'90),2!+,229!0!+10.9451*0+"5.!9+51>!+60+!+0M,9!K20C,!-(1".;!0!+"*,!),451,!+6,!

C5.=,.+E!)(+!"+!"9!0)5(+!+6,!4"19+!+"*,!96,!@09!9,.+!+5!2"=,!0@0>!415*!65*,E!".!0!+5@.!

C022,-!#010K5+5N!0!+5@.!X!65(19!0@0>!415*!e(1"*0;(09P!!&6,!+"+2,-!6,1!9+51>!F<.0!

+10.9451*0C"o.!-,!*"!="-0fE!+,229!+60+!5.,!-0>E!@6,.!96,!@09!UcE!6,1!K01,.+9!9,.+!

6,1!+5!2"=,!0+!6,1!C5(9".h9!65(9,!".!#010K5+5E!@6"C6!"9!0!*(C6!)";;,1!C"+>!@"+6!*51,!

5KK51+(."+",9E!C5*K01,-!+5!6,1!65*,+5@.P!!'90),2!".9"9+,-!+60+!96,!-"-!.5+!@0.+!+5!

*5=,!+5!#010K5+5!0.-!2"=,!@"+6!6,1!C5(9".9!0.-!0(.+!0.-!(.C2,E!),C0(9,!96,!@09!.5+!

(9,-!+5!+6,*!0.-!-"-!.5+!@0.+!+5!60=,!+5!0-0K+!+5!0!.,@!C"+>P!!$,1!40+6,1!2,4+E!2,0=".;!

'90),2!@"+6!6,1!,B+,.-,-!40*"2>P!!&6,!C5.+".(,-!+5!".9"9+!+60+!96,!@0.+,-!+5!;5!)0CM!

65*,E!+60+!96,!@09!(9,-!+5!2"=".;!@"+6!6,1!K01,.+9!0.-!+60+!"9!@65*!96,!@0.+,-!+5!

2"=,!@"+6P!!&6,!+61,0+,.,-!+5!1,+(1.!65*,!)>!6,19,24!"4!6,1!K01,.+9!-"-!.5+!K"CM!6,1!

(K!955.P!!&6,!9K,.+!95*,!+"*,!".!+6"9!65(9,E!)(+!+6,!@652,!+"*,E!96,!@0.+,-!+5!

! UU\!

+10.9451*!".+5!0!)"1-E!0.-!"*0;".,-!6,19,24!09!5.,E!(.+"2!4".022>!6,1!40+6,1!1,+(1.,-!

+5!K"CM!6,1!(KP!!&6,!,.-9!)>!90>".;!+60+!96,!1,*,*),19!+60+!+"*,!09!C52-!0.-!

-"44"C(2+P!

!

h8,.*$

!

%2,.0!@15+,!6,19!*51,!".!9+51>!451*P!!&6,!4"19+!0--,-!0!2"++2,!

,K";10K6p,BC,1K+!+60+!,BK20".9!+60+!+6,!9+51>!96,!"9!0)5(+!+5!+,22!"9!+0M,.!415*!0.!

0(+6,.+"C!,BK,1",.C,!54!6,19P!!%2,.0!+(1.,-!,";6+,,.!0!4,@!-0>9!04+,1!+6,!0C+"="+>P!!

&6,!609!),,.!".!+6,!C5.=,.+!9".C,!0;,!,2,=,.R!9".C,!+6,!0;,!54!9,=,.E!96,!609!;15@.!

(K!),+@,,.!*"99"5.01>!65*,9!0.-!+6,!C5.=,.+E!0.-!,=,.!),,.!015(.-!@6,.!95*,!

54!+6,!C(11,.+!.(.9!@,1,!>5(.;!0-52,9C,.+!;"129!2"M,!6,1P!!'.!+6,!".451*0+"5.!),451,!

6,1!9+51>E!96,!90>9!+60+!96,!1,*,*),19!=,1>!@,22!+60+!0+!9,=,.E!96,!@09!9,.+!0@0>!+5!

2"=,!".!0!65(9,!@"+6!*"99"5.01",9P!!35(1!>,019!@5(2-!K099!),451,!9,,".;!6,1!K01,.+9!

0;0".P!!&6,!90"-!+60+!96,!C1",-!0.-!C1",-!415*!60KK".,99!54!9,,".;!6,1!K01,.+9P!!?5@!

+60+!96,!"9!52-,1!0.-!*51,!*0+(1,E!96,!90>9E!96,!609!*51,!C5.+152!5=,1!6,1!

,*5+"5.9E!0.-!96,!609!2,01.,-!+5!-,02!*51,!@"+6!+6,!C"1C(*9+0.C,9!54!2"4,P!!$,1!9+51>!

45225@9G!

!

! UUZ!

%2,.0h9!9+51>!"9!

".+,1,9+".;E!),C0(9,!96,!2,4+!6,1!65*,!0+!_E!0.-!".!0!W!>,01!+10.9"+"5.E!9K,.+!+"*,!

2"=".;!@"+6!*"99"5.01",9P!!D+!0;,!UUE!96,!4".022>!90@!6,1!40*"2>!0;0".E!)(+!+60+!>,01!

+6,>!+55M!6,1!+5!+6,!C5.=,.+!95!+60+!96,!C5(2-!;,+!0.!,-(C0+"5.P!!'+!"9!=,1>!101,!+60+!

96,!609!9,,.!6,1!40*"2>!9".C,!+6,.P!

!

A0.>!54!+6,!;"129!,BK1,99!0!.,,-!+5!C5.+".(,!+6,!9+1(;;2,E!+5!M,,K!5.!2"=".;!

0.-!+5!255M!06,0-!0+!0!65K,4(22>!)1";6+!4(+(1,P!!#6"9!-5,9!.5+!"*K2>!+60+!022!+6,!

+10.9451*0+"5.!.0110+"=,9!60=,!.,;0+"=,!C6010C+,1!+5!+6,*R!.5E!95*,!01,!@1"++,.!09!

0.!,BC"+".;!,=,.+E!9(C6!09!759"+0E!@65!+02M,-!0)5(+!+6,!,BC"+".;!0.-!(.C,1+0".!

+10.9"+"5.!".+5!0-52,9C,.C,P!!J(+!9+"22E!+6,1,!"9!0!9,.9,E!0.-!*,990;,!+60+!+6,!

K01+"C(201!+10.9451*0+"5.!+60+!+6,!;"129!,BK,1",.C,-!2,0-9!+5@01-!0!4,,2".;!+60+!"+!"9!

.,C,9901>!+5!255M!06,0-E!0.-!+5!M,,K!@60+!60KK,.,-!".!+6,!K09+E!+6,1,!,B0C+2>G!+6,!

K09+P!!Q(LE!09!'!*,.+"5.,-!K1,="5(92>E!@1"+,9!,B+,.9"=,2>!5.!6,1!K01,.+h9!9,K010+"5.N!

@6,+6,1!"+!"9!".=,.+".;!9+51",9!0)5(+!0.!,K"C!25=".;!1,20+"5.96"KE!51!C5.4,99".;!".!0!

2,++,1!+60+!96,!1,9,.+9!6"*R!*(C6!54!6,1!@1"+".;!609!+5!-5!@"+6!,"+6,1!*0M".;!

! UVc!

0*,.-9!@"+6!0!K09+!+(*(2+(5(9!40*"2>!9"+(0+"5.E!51!1,NC5.9+1(C+".;!0!9+51>!".!0!@0>!

96,!@5(2-!10+6,1!"+!60=,!+0M,.!"+9!C5(19,P!!$,1!.0110+"=,!54!+10.9451*0+"5.!"9!0)5(+!0!

*5*,.+!54!5=,1C5*".;!+6,!K09+G!

!

!

351!Q(LE!6,1!+10.9451*0+"5.!@09!".!0++"+(-,E!@6"C6!'!+6".M!0295!"9!5.,!54!0-(2+!

*0+(1"+>E!54!+6,!C5.+,B+!+60+!6,1!2"4,!;0=,!6,1P!!$,1!+10.9451*0+"5.!@09.h+!5.,!

".C"-,.+!51!,=,.+E!)(+!+6,!K099".;!54!0!60196!1,02"+>!0.-!6,1!-,C"9"5.!+5!2"=,!6,1!5@.!

2"4,P!!&6,!9";.029!+6,!C5.=,.+E!+65(;6!09!+6,!K20C,!@6,1,!+60+!C60.;,!".!*0+(1"+>!!

S0.-!"-,.+"+>T!5CC(11,-P!!#65(;6!6,1!K09+!"9!5.,!+60+!"9!@51+6!451;,++".;E!96,!90>9E!

! UVU!

96,!609!C60.;,-!6,1!0++"+(-,!0.-!@0>!54!+6".M".;!+60+!0225@9!6,1!+5!*5=,!5.!0.-!+5!

2"=,!6,1!5@.!2"4,E!+6,!@0>!96,!@0.+9!+5P!

!

%*5&$

!

A01(!d(9+!+(1.,-!4"4+,,.!0.-!96,!"9!5.,!54!+6,!.,@,9+!*,*),19!54!+6,!

C5.=,.+E!95!+6,!+1"K!+5!+6,!C5.=,.+!"9!41,96!".!6,1!*".-E!0.-!96,!"-,.+"4",-!+60+!09!6,1!

*0".!+10.9451*0+"5.!9+51>P!!$,19!"9!".+,1,9+".;!),C0(9,!"+!-5,9!.5+!*01M!0!C2,01!

+10.9451*0+"5.!".+5!0-52,9C,.C,E!)(+!10+6,1!9K,0M9!+5!+6,!+,.9"5.9!54!M.5@".;!+60+!

5.,!'P"&8#!0C+!2"M,!0!*0+(1,!0-52,9C,.+E!)(+!0+!+"*,9!4,,2".;!2"M,!0!C6"2-E!0.-!.5+!

@0.+".;!+5!2,+!>5(1!;(01-!-5@.!@6,1,!+6,1,!01,!95!*0.>!.,@!K,5K2,!@65*!>5(!01,!

;,++".;!+5!M.5@P!!$5@,=,1E!"+!@09.h+!9+01+".;!6,1!.,@!2"4,!0+!+6,!C5.=,.+!5.2>!9,=,.!

*5.+69!),451,!@1"+".;!+6"9!+60+!K15K,22,-!+6,!+10.9"+"5.!".+5!0-52,9C,.C,R!+60+E!96,!

+,229!(9E!60KK,.,-!0+!+@,2=,P!!D-d(9+".;!6,1!2"4,!+5!+6,!C5.=,.+!609!C6022,.;,-!+6,!

9+1,.;+6!54!+60+!.,@!4,*02,!"-,.+"+>E!0.-!@60+!609!),,.!*59+!C6022,.;".;!"9!0C+".;!

9+15.;!@6,.!96,!*"99,9!6,1!40*"2>!0.-!65*,!95!*(C6G!

! UVV!

!

!

!

9*50,8*$

!

O01*,20!255M9!)0CM!0+!+6,!0C+(02!+10=,2!+5!+6,!C5.=,.+!0.-!9+01+".;!6,1!.,@!

2"4,!6,1,!09!+6,!*0d51!+10.9451*0+"=,!+(1.".;!K5".+!".!6,1!2"4,P!!'+h9!),,.!U!>,01!0.-!^!

*5.+69E!96,!90>9E!9".C,!96,!011"=,-!0+!+6,!C5.=,.+P!!&6,!@09!=,1>!90-!+5!2,0=,!65*,!

0.-!"+!609!),,.!-"44"C(2+!2"=".;!@"+65(+!6,1!40*"2>E!@65!96,!*"99,9!=,1>!*(C6!0.-!

C1",9!54+,.!@6,.!96,!+6".M9!0)5(+!+6,"1!9,K010+"5.P!!&6,!90>9!+60+!09!*51,!0.-!*51,!

+"*,!K099,9E!96,!;,+9!*51,!(9,-!+5!6,1!.,@!2"4,P!!&6,!,.-9!6,1!.0110+"=,!@"+6G!

H60+!"9!1,=,02,-!*59+E!"9!+6,!+,.9"5.!54!

;15@".;!(KE!54!),C5*".;!0!>5(.;!@5*0.E!0.-!

9(KK1,99".;!+6,!9"-,!54!6,1!+60+!.,,-9!6,1!

K01,.+9P!

!

#6"9!"9!0295!95*,+6".;!2"M,!0!9,C1,+E!),C0(9,!

96,!4,,29!96,!609!+5!0C+!0!C,1+0".!@0>!015(.-!

+6,!5+6,1!;"129!+5!0KK,01!9+15.;,1P!!&6,!609!

.,=,1!+52-!+6"9!+5!0.>5.,E!96,!90>9E!,BC,K+!451!

D."+0P!

! UVX!

!

!

%*.&,8*$

!

A0.(,20!0295!9";.02,-!6,1!*5=".;!+5!+6,!C5.=,.+!09!0!*0d51!+10.9451*0+"5.!

".!6,1!2"4,P!!&6,!90>9!+60+!"+!"9!02@0>9!-"44"C(2+!+5!),!0@0>!415*!>5(1!40*"2>E!)(+!+60+!

96,!1,02"L,-!"+!@09!95*,+6".;!+60+!*(9+!60KK,.E!95!96,!609!0CC,K+,-!"+E!0.-!"9!60KK>!

2"=".;!@"+6!.(.9P!!#6,!.(.9!01,!;55-!+5!6,1E!96,!90>9E!0.-!"+!"9!."C,!2"=".;!@"+6!95!

*0.>!5+6,1!;"129!6,1!0;,!),C0(9,!+6,>!C0.!022!40C,!+6,"1!K15)2,*9!C522,C+"=,2>!0.-!),!

+6,1,!451!,0C6!5+6,1P!!'+!"9!0295!+6,!K20C,E!96,!90>9E!@6,1,!96,!"9!.5@!&.*$',F"51(*P!!'.!

6,1!@1"+".;E!96,!C659,!+5!4"C+"5.02"L,!6,19,24G!

!

! UVW!

!

!

!

!

!

!

!

!

!

!

'.!+6,!,.-E!96,!2,0=,9!"+!(K!+5!I5-E!96,!90>9E!),C0(9,!I5-!"9!+6,!5.2>!5.,!@65!

+1(2>!M.5@9!6,1!-,9+".>P!!#6"9!1,=,029!+10.9451*0+"5.9!.5+!5.2>!K09+E!)(+!0295!+659,!

+5!C5*,E!0.-!0295!965@9!+60+!02+65(;6!*0.>!;"129!@5(2-!"-,.+"4>!+6,"1!011"=02!+5!+6,!

!

#6,!4"C+"5.02"L,-!.0+(1,!54!+6"9!9+51>!"9!=,1>!

".+,1,9+".;P!!'.!6,1!9+51>E!96,!"9!0!),0(+"4(2!

>5(.;!@5*0.!@65!2"=,9!@"+6!6,1!40+6,1P!!!

H60+!"9!".+,1,9+".;!"9!+6,!1,095.!96,!;"=,9!451!

+6,!,=,.+9!+60+!@5(2-!),C5*,!+6,!*0d51!

+10.9451*0+"5.P!!H6,1,09!*59+!.0110+"=,9!

0)5(+!2,0=".;!65*,!-,02!@"+6!K01,.+9!9,.-".;!

+6,"1!-0(;6+,1E!51!5+6,1!C5**(."+>!*,*),19!

9(;;,9+".;!+6,!C5.=,.+E!".!+6"9!9+51>E!+6,!

),0(+"4(2!>5(.;!-0(;6+,1!"."+"0+,9!+6,!*5=,P!!

&6,!+,229!6,1!40+6,1!+60+!96,!@0.+9!+5!9+(->!".!

0.5+6,1!C"+>P!!D2+65(;6!+6"9!@09!.5+!0.!,09>!

+6".;!+5!-5E!6,1!40+6,1!6,2K,-!6,1!0C6",=,!+6"9E!

0.-!.5@!96,!2"=,9!401!0@0>E!)(+!96,!"9!60KK>E!

0.-!9+(-",9!0!25+P!!&6,!,BK1,99,9!(.C,1+0".+>!

".!6,1!4(+(1,E!0.-!90>9!+60+!.5@!+6,!+"*,!"9!

.,01".;!@6,.!96,!609!+5!C6559,!@60+!+5!-5E!

96,!"9!C5.4(9,-E!),C0(9,!+6,1,!01,!+@5!

=5C0+"5.9!96,!@0.+9!0+!+6,!90*,!+"*,P!

! UVY!

C5.=,.+!09!0!K20C,!54!+10.9451*0+"5.!".!0.-!54!"+9,24E!)(+!0295!09!5.,9!+60+!K15K,2!0.-!

".9K"1,!5+6,1!+10.9451*0+"5.9P!!#6,!C5.=,.+E!09!+6,>!,BK,1",.C,!"+E!"9!.5+!0!9+0;.0.+!

K20C,E!"+!"9!.5+!0.!,.-G!"+!"9!0!K15K,22,1!54!+6,"1!2"4,!".+5!@5*0.655-E!0.-!"+!C5.+0".9!0!

4(+(1,E!@6"C6E!09!A0.(,20!,BK20".9E!5.2>!I5-!M.5@9P!

!

A0.>!54!+6,!;"129!=",@!2,0=".;!65*,!0.-!+6,"1!40*"2",9!+5!;5!+5!+6,!C5.=,.+!09!

0!*0d51!+10.9451*0+"5.!".!+6,"1!2"=,9P!!e,99"C0!0.-!A01"0!7590!0295!@1"+,!+6,"1!

.0110+"=,9!0)5(+!2,0=".;!+6,"1!40*"2",9!0.-!65@!+6"9!"9!+6,!5.9,+!54!2,0=".;!C6"2-655-!

0.-!,.+,1".;!0-52,9C,.C,E!51!2,0=".;!;"12655-E!0.-!,.+,1".;!>5(.;!@5*0.655-P!!'+!

K15=,9!+60+!*5=".;!+5!+6,!C5.=,.+!652-9!*0d51!@,";6+!".!+6,"1!2"=,9E!)(+!0295!1,=,029!

+6,!(."8(,.,99!54!+6,!d5(1.,>!09!0!2"4,NC60.;".;!+10.9451*0+"5.P!

!

g&V1$

$

|(B"h9!+10.9451*0+"5.!609!),,.!+6,!*59+!5)="5(9!0*5.;!+6,!5+6,1!;"129E!09!

@,22!09!+5!*>9,24E!9".C,!'!*,+!6,1!@6,.!96,!@09!+,.!0.-!)01,2>!9K5M,!0!@51-!+5!

0.>5.,P!!?5@E!0+!+@,2=,E!96,!9,,*9!2"M,!0!C5*K2,+,2>!-"44,1,.+!K,195.E!0.-!96,!"9!

K15(-!54!6,1!.,@2>!45(.-!C5.4"-,.C,P!!&6,!*01M9!+6"9!+10.9451*0+"5.!+65(;6E!+5!0.!

".C"-,.+!".!6,1!C2099155*P!!FJ(,.5E!>5!*,!+10.9451*mfE!96,!90>9E!F,.!*"!9025.fG!

! UV^!

!

$

%*58,.,$

!

A012,.,h9!.0110+"=,!1,=,029!0!25+!0)5(+!65@!96,!4,,29!0)5(+!+6,!C5.=,.+!09!0!

K20C,!@6,1,!96,!@"22!;15@P!!'.!6,1!9+51>E!+6,!*0d51!+10.9451*0+"5.!@09!*5=".;!+5!

+6,!C5.=,.+P!!&6,!90>9!+60+!".!6,1!65*,+5@.E!96,!-"-!.5+!4,,2!6,19,24P!!&6,!60-!0!601-!

2"4,E!96,!90>9E!0.-!96,!-"-.h+!4,,2!2"M,!96,!C5(2-!1,20+,!+5!+6,!5+6,1!;"129!".!6,1!+5@.P!!

&6,!,*)01M,-!5.!0!d5(1.,>!+5!+6,!C5.=,.+!),C0(9,!6,1!K01,.+9!@0.+,-!6,1!+5!60=,!0!

),++,1!,-(C0+"5.E!0.-!@6,.!96,!*,+!+6,!;"129!0+!+6,!C5.=,.+E!96,!4,2+!2"M,!96,!4"+!".P!!'+!

"9!".+,1,9+".;!+60+!96,!4,,29!2"M,!96,!4"+!@"+6!+6,9,!;"129N!),C0(9,!09!'!60=,!9+0+,-!

),451,E!+6,>!C5*,!415*!=,1>!-"44,1,.+!K20C,9!-"44,1,.+!20.;(0;,9P!!/,160K9!"+!"9!+6,!

C5**5.!9601,-!,BK,1",.C,!54!60=".;!+5!2"=,!".!+6,!C5.=,.+!+60+!(."+,9!6,1!+5!+6,*P!

'.!+6,!,.-E!96,!4,,29!2"M,!96,!C0.!),!6,19,24!".!+6,!C5.=,.+E!),C0(9,!+6,>!01,!

K15+,C+,-!0.-!"+!"9!0!K20C,!4(22!54!60KK".,99P!

!

! UV_!

T..*?,88*$

D..0),220h9!9+51>!"9!+6,!*59+!,20)510+,P!!$,19!"9!0!6,01+)1,0M".;!C5*".;!54!

0;,!9+51>!415*!6,1!65*,!="220;,P!!%.+"+2,-!T$6,5(*1.$#*B$1.$irriO$\P,.$*$;158$\*'$

'(&#B1.;$1.$P,5$[*(P,5Y'$("\.E!"+!45225@9!+6,!9+51>!54!0!>5(.;!;"12!@65!"9!+10=,22".;!)>!

C0.5,!+5!="9"+!6,1!40+6,1h9!5+6,1!65(9,P!!#615(;65(+!+6,!9+51>E!+6,1,!01,!*0.>!&60@"!

@51-9!*"B,-!".P!!H6,.!+6,>!011"=,!0+!6,1!40+6,1h9!5+6,1!65(9,E!+6,!>5(.;!;"12!09M9!

0.5+6,1!;"12!+5!K20>!@"+6!6,1P!!#6,>!;5!+5!6(.+!&(1"E!0!;1()!C5**5.2>!,0+,.!".!+6,!

1,;"5.E!90"-!+5!60=,!0!25+!54!K15+,".!0.-!,=,.!C(1,!C0.C,1P!![.!+6,"1!6(.+!451!&(1"E!

+6,>!-,C"-,!+5!C(+!0!4,@!*;&*;,!+1,,9!95!+60+!+6,>!C5(2-!+0M,!+6,!41("+!)0CM!65*,P!!'.!

+6,!K15C,99E!0!+1,,!40229!5.!+6,!5+6,1!;"12E!M"22".;!6,1P!!H6,.!6,1!*5+6,1!011"=,9!5.!+6,!

9C,.,E!96,!)20*,9!6,1!-0(;6+,1!0.-!+,229!6,1!+60+!"+!"9!6,1!40(2+!451!.5+!60=".;!5),>,-!

6,1G!

! UV\!

!

D2+65(;6!+6,!0C+(02!9+51>!,.-9!6,1,E!D..0),220!0--9!0!C5.C2(9"5.!@"+6!+6,!

+"+2,G!F,1,9!"*K51+0.+,!.5!25!52="-,9f!B"&$*5,$10Q"5(*.($*.#$#".Y($["5;,($1(E!@6,1,!96,!

+02M9!0)5(+!65@!"*K51+0.+!"+!"9!+5!60=,!0!C259,!1,20+"5.96"K!@"+6!>5(1!*5+6,1P!!&6,!

+,229!0!9651+!9+51>!54!+@5!41",.-9!@65!01,!60=".;!0!C5.=,190+"5.!0)5(+!+6,"1!*5+6,1P!!

&6,!90>9!+60+!96,!(9,-!+5!0=5"-!9K,0M".;!@"+6!6,1!*5+6,1E!)(+!+60+!1,C,.+2>!96,!609!

1,02"L,-!+6,!"*K51+0.C,!54!60=".;!+6"9!1,20+"5.96"KP!!'4!>5(!-5.h+E!96,!@01.9E!>5(!@"22!

60=,!0!=5"-!95!)";!+60+!425@,1!@"22!,=,.+(022>!;15@!".!"+P!

! UVZ!

!

!

! ! ! ! ! ! !

H60+!9+51",9!-5!@,!451*!0)5(+!K20C,9!54!51";".!@6,.!@,!01,!".!0!.,@!K20C,i!!

/0+!A510!09M9G!F@6>!-5!C,1+0".!,=,.+9!),C5*,!C,.+102!*,*51",9E!K01+!54!+6,!C51,!

2"4,!9+51>!@,!C1,0+,!0)5(+!5(19,2=,9if!SU\_T!H6>!-"-!*0.>!;"129!C6559,!+5!1,NC1,0+,!

0!+10.9451*0+"=,!,=,.+!".!+6,!65*,+5@.9!+6,>!2,4+!),6".-E!0.-!@6>!-"-!5+6,19!1,N

C1,0+,!5.,!".!e(1"*0;(09i!!#615(;6!+6,9,!9+51",9E!@60+!@,!9,,!"9!0!;2"*K9,!".+5!65@!

! UXc!

+6,9,!K20C,9!4(.C+"5.!".!0!M,>!+10.9451*0+"5.!+60+!+6,>!C5.+".(022>!C5.d(1,G!+6,!

+10.9"+"5.!".+5!@5*0.655-P!!'.!+6"9!0C+"="+>E!+6,>!K15-(C,-!4"C+"5.02!0.-!

0(+5)"5;10K6"C02!9+51",9E!)(+!@60+!01,!),6".-!+6,9,!9+51",9i!

'.!+6,9,!9+51",9E!+6,1,!"9!0.!(.-,12>".;!.0110+"=,!54!-"09K51"C!,BK,1",.C,E!

),C0(9,!),.,0+6!+6,!9+51",9!01,!*(2+"K2,!5+6,1!.0110+"=,9G!2,0=".;!65*,E!+10=,2E!

;2"*K9,9!54!65*,!2"4,E!0.-!".!+6,!C09,!54!+659,!@659,!9+51",9!+55M!K20C,!".!

e(1"*0;(09E!54!65@!+6,>!K,1C,"=,!54!+6"9!.,@!K20C,!@6,1,!+6,"1!2"=,9!01,!451*".;P!

J(+!".!+6"9!9K0C,!54!+6,!P";*5E!+6,1,!"9!.5+!d(9+!5.,!65*,+5@.!+60+!"9!,=5M,-!

0.-!)15(;6+!+5!2"4,R!+6,1,!01,!*0.>R!),C0(9,!,0C6!,BK,1",.C,E!02+65(;6!451*9!K01+!54!

0!C522,C+"=,!,BK,1",.C,E!"9!".-,K,.-,.+!54!+6,!5+6,19G!@"+6!"+9!5@.!65*,+5@.E!"+9!

5@.!+10=,2!15(+,E!0.-!"+9!5@.!,BK,1",.C,!54!+6,!K20C,!011"=,-P!!

'+!"9!+615(;6!9+51>!451*".;!+60+!.,@!M.5@2,-;,9!0)5(+!)5+6!K20C,!0.-!9,24!

01,!K15-(C,-!415*!0.!".+,1C(2+(102!0.-!*(2+"N20>,1,-!9K0C,!09!+6,!C5.=,.+P!!#6,9,!

.0110+"=,9!54!+10.9451*0+"5.!01,!0)5(+!+6,!9+51",9!+60+!2",!),.,0+6!*,+0N9+51",9R!

+6,>!01,!0)5(+!+6,!9+51",9!+60+!01,!+10C,-!@6,.!@,!C1599!)51-,19P!!'.!@1"+".;!+6,9,!

.0110+"=,9!0)5(+!9K,C"4"C!*5*,.+9!+60+!+6,>!60=,!"-,.+"4",-!09!(5*.'["50*(1".'E!+6,>!

01,!-10@".;!5.!9K,C"4"C!6"9+51",9E!51E!+6,>!01,!C1,0+".;!0!6"9+51"C02!+10d,C+51>!".!+6,!

K20C,!54!5.,!+60+!609!,BC2(-,-!51!40"2,-!+6,*P!!H60+!"9!6(;,2>!"*K51+0.+!".!,.;0;".;!

+6,9,!.0110+"=,9!"9!+6,!(.-,19+0.-".;!+60+!+6,>!01,!@1"++,.!415*!0!451*!54!-"09K51"C!

1,02"+>!51!9"+(0+"5.!+60+!+60+!+6,9,!;"129!40C,P!!315*!+6,!K59"+"5.!54!0!951+!54!

-"9K20C,*,.+!0+!+6,!C5.=,.+!0.-!".!+6,!9K0C,!54!+@5!65(19E!+6,>!(9,!*,*51>E!

"*0;".0+"5.E!4"C+"5.!0.-!2"4,!9+51>!+5!1,+(1.!+5!+6"9E!51!+5!0!*5*,.+!".!e(1"*0;(09!+5!

+,22!+6"9!9+51>P!

! UXU!

! UXV!

25

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VY!A0.(,20E!UYE!2,++,1!@1"+".;!0C+"="+>!

! UXX!

Chapter 6 / Capítulo 6

Cuentos de la Huelga

! UXW!

O(,.+59!-,!20!$(,2;0!

$

^&'($*'$.".,$"[$&'$1'$?,B".#$;,";5*QPBO$.".,$"[$&'$1'$

6"0Q8,(,8B$[5,,$[5"0$(P,$'(5&;;8,$"+,5$;,";5*QPB]$<P*($

'(5&;;8,$1'$6"0Q8,V$*.#$1.(,5,'(1.;$?,6*&',$1($1'$."($".8B$

*?"&($'"8#1,5'$*.#$6*..".'$?&($*8'"$*?"&($1#,*'O$*?"&($

["50'O$*?"&($10*;,'$*.#$10*;1.1.;'$

$ _h#\*5#$=*1#O$9&8(&5,$*.#$10Q,51*81'0O$aeef$

$

$ $ $ $ $ $ 9*01.A$Q"5$P"5*'O$B$'D8"$6"0U$#"'$.*5*.K*'$

$ $ $ $ $ $ $ $ _%*51*$^"',[1.*$

$

'.!Vcc^E!+6,!/,1(="0.!0.-!<."+,-!&+0+,9!;5=,1.*,.+9!9";.,-!0!#10-,!

K15*5+"5.!0;1,,*,.+E!@6"C6!2,-!+5!0!Vcc\!20@!".!/,1(E!".!@6"C6!".-";,.5(9!20.-9!

),C0*,!0=0"20)2,!451!K(1C609,!)>!".+,1.0+"5.02!K1"=0+,!,.+,1K1"9,9PV^!!#6,!20@!

,.C5(10;,-!+6,!/,1(="0.!;5=,1.*,.+!+5!0C8("1,!20.-9!".!+6,!d(.;2,!1,;"5.!+60+!@,1,!

451*022>!(.-,1!C5**(.02!5@.,196"KP!!J,451,!+6"9!".+,1.0+"5.02!0;1,,*,.+E!+6,!

;5=,1.*,.+!60-!0!-,02!@"+6!".-";,.5(9!2,0-,19!+60+!0.>!0C+"="+>!-5.,!5.!+6"9!20.-!

@5(2-!60=,!+5!),!C5.9(2+,-!@"+6!+6,!C5**(."+",9E!0C+"="+",9!".C2(-,-!25;;".;E!0.-!

5+6,1!.0+(102!1,95(1C,!,B+10C+"5.P!!'.-";,.5(9!K52"+"C02!;15(K9!0.-!2,0-,19!

K15+,9+,-E!0.-!D20.!I01Cj0h9!;5=,1.*,.+!@01.,-!/,1(="0.9!.5+!+5!;5!+5!+6,!d(.;2,!

1,;"5.E!C5**,.C".;!0!*099"=,!-"9C(19"=,!@01!0.-!C0*K0";.!0;0".9+!".-";,.5(9!

K,5K2,!09!+,1151"9+9!0.-!09!5KK59,-!+5!/,1(h9!,C5.5*"C!1,C5=,1>P!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!V^!(Ley 28852)!

! UXY!

H"+6!6(;,!K15+,9+9!;5".;!5.E!*0d51!150-9!0.-!1"=,1!@0>9!@,1,!)25CM,-P!!#6"9!

044,C+,-!e(1"*0;(09!9,=,1,2>E!".!+60+!+6,!*01M,+9!@,1,!2,4+!@"+6!.5!455-E!),C0(9,!

.,"+6,1!@,1,!-1",-!;55-9!0225@,-!".!+5!),!+10.9K51+,-!415*!+6,!5.,!150-!+60+!

C5..,C+,-!e(1"*0;(09!+5!+6,!1,9+!54!/,1(E!0.-!+6,!4"96,1*,.!0.-!@5*,.!@,1,!5.!

9+1"M,E!95!.5!4"96!@,1,!C5*".;!".P!!#6,!;"129!@,1,!2,4+!".!0!40*"2"01!9"+(0+"5.G!(K155+,-!

5.C,!0;0".E!451C,-!+5!*0M,!0!+1"K!)0CM!65*,!+6,!C5.=,.+!C5(2-!)01,2>!04451-P!!&5*,!

;"129!+,22!9+51",9!54!@02M".;!451!+6"1+>!65(19!+5!+5@.9!@"+6!455-R!5+6,19!*0-,!"+!5.!

)50+9!)0CM!+5!+6,"1!65*,+5@.9R!95*,!+52-!9+51",9!54!C5**(."+",9!9+0.-".;!025.;!+6,!

1"=,1h9!,-;,!@"+6!0115@9!K5".+,-!+5@01-!+6,!)50+9E!".+"*"-0+".;!K5+,.+"02!

451,";.,19E!*"2"+01>!51!1,95(1C,!,B+10C+519P!

351!+6"9!0C+"="+>E!'!09M,-!+6,!;"129!+5!@1"+,!0!.0110+"=,!0)5(+!+6,"1!,BK,1",.C,!

54!8*$P&,8;*!S+6,!9+1"M,TE!0.-!+5!"22(9+10+,!@6,1,!+6,>!@,1,!@6,.!+6,>!,BK,1",.C,-!"+P!!!

#6,!45225@".;!01,!+6,!9+51",9!0.-!"22(9+10+"5.9!54!@60+!+6,>!1,*,*),1!9,,".;!0.-!

@60+!+6,>!,BK,1",.C,-!),+@,,.!](.,ND(;(9+!Vcc\G!

@"&5#,'$

Q5(-1,9h!-10@".;!1,K1,9,.+9!+6,!

"*0;,9!96,!1,*,*),19!415*!+6,!

K15+,9+9P!!&6,!1,*,*),19!60=".;!+5!

@02M!*"2,9!5(+9"-,!54!e(1"*0;(09!0.-!9,,".;!+,.+9!+60+!".-";,.5(9!

K,5K2,!K(+!@"+6!K20.+0".9E!*0L0+5!S0!-1".M!*0-,!54!4,1*,.+,-!>(CC0!

0.-!9K"+TE!0.-!*0C6,+,9!451!

-,4,.9,P!!#6,!-10@".;!5.!+6,!2,4+!60.-!9"-,!

54!6,1!.0110+"=,!"22(9+10+,9!+6,9,!

+,.+9P!

&6,!0295!(9,9!6,1!"*0;".0+"5.!+5!

-,9C1"),!+6,!9"+(0+"5.!".!K20C,9!96,!

609!.5+!),,.!+5E!-,9C1")".;!5+6,1!

K20C,9!09!;5".;!+615(;6!+6,!90*,!

,BK,1",.C,P!

! UX^!

$

!

%*51*_^"',[1.*$

!

!

! UX_!

A01"0!]59,4".0!90>9!+60+!+6,!C5.42"C+!9+01+,-!),C0(9,!6,1!".-";,.5(9!)15+6,19!

0.-!9"9+,19!@,1,!-,4,.-".;!+6,"1!1";6+!+5!2"=,!5.!+6,"1!5@.!20.-P!!&6,!90>9!+60+!

),C0(9,!54!+6"9E!65@,=,1E!+6,>!)25CM,-!+6,!5.,!150-!+60+!C5..,C+9!e(1"*0;(09!+5!

5+6,1!20.-E!0.-!+6,1,451,!.5!455-!@09!0)2,!+5!C5*,!".P!!$,1!40+6,1!*0.0;,-!+5!011"=,!

+5!e(1"*0;(09!),451,!+6,!K15+,9+!;5+!*51,!="52,.+E!)(+!5.!+6,!@02M!)0CM!65*,E!+6,>!

60-!+5!@02M!Xc!M*P!!A01"0!]59,4".0!-,9C1"),9!4,,2".;!,B+1,*,2>!6(.;1>E!+6"19+>!0.-!

+60+!96,!@5(2-!.,=,1!011"=,!)0CM!65*,P!!&6,!,.-9!6,1!.0110+"=,!)>!90>".;!+60+!96,!

9(9+0".,-!6,19,24!5.!+@5!510.;,9P!

!

$

$

$

$

$

$

$

$

$

^&*.*$

! UX\!

$

!

](0.0h9!.0110+"=,!0.-!*,*51>!54!+6,!P&,8;*!"9!".+,1,9+".;E!),C0(9,!96,!"9!5.,!

54!+6,!4,@!;"129!@65!@09!.5+!0)2,!+5!1,+(1.!65*,E!0.-!95!96,!9+0>,-!".!+6,!C5.=,.+P!!

#60+!"9!@6>!96,!-10@9!+6,!)";*5P!!D.5+6,1!".+,1,9+".;!+6".;!"9!+60+!96,!@1"+,9!"+!

415*!+6,!K,19K,C+"=,!54!65@!"+!044,C+,-!9C6552P!!&6,!@1"+,9!+60+!96,!@09!9C01,-!

),C0(9,!96,!60-!6,01-!+60+!+6,!".-";,.5(9!K,5K2,!@,1,!M"22".;!+659,!@65!+1",-!+5!

+10=,2!0.-!+60+!+6,1,!@09!0.!5=,1022!4,,2".;!54!4,01P!!#6,!*59+!"*K0C+4(2!K01+!54!+6,!

P&,8;*$451!6,1!"9!+60+!96,!C5(2-!.5+!;5+!+5!9C6552!451!+61,,!*5.+69P!!!3".022>E!96,!90>9E!

5.!](2>!VW+6!C2099,9!9+01+,-!0;0".P!!&6,!,.-9!"+G!0.-!+60+!"9!65@!+6,!6(,2;0!60KK,.,-P!

!

!

!

!

! UXZ!

!

h8,.*$

!

!

%2,.0E!2"M,!](0.0E!9+0>,-!".!+6,!65;01!-(1".;!+6,!P&,8;*P!!Q"M,!*0.>!54!+6,!

5+6,1!.0110+"=,9E!96,!45C(9,9!5.!+6,!20CM!54!455-!".!+6,!*01M,+9P!!&6,!90"-!*0.>!

".-";,.5(9!K,5K2,!011"=,-!".!e(1"*0;(09!+5!)25CM!+6,!150-9E!@6"C6!+6,>!6,2-!(K!

@"+6!*0C6,+,9E!0115@9!0.-!;(.9P!!&6,!90"-!5.!95*,!-0>9!*0.>!K,5K2,!@,1,!M"22,-P!!

#6"9!.0110+"=,!10"9,9!0.!"*K51+0.+!)51-,120.-E!5.,!+60+!(.-,12".,9!0.!".-";,.5(9!

,BK,1",.C,R!0.-!+60+!"9!+6,!)51-,1!54!".451*0+"5.P!!#6,!-"9C(19"=,!@01!0;0".9+!

".-";,.5(9!C5**(."+",9!)>!+6,!/,1(="0.!;5=,1.*,.+!@09!d(9+!09!K5@,14(2!09!+6,!

K6>9"C02!0++0CM".;!0.-!15))".;!54!20.-9P!!70-"59E!+,2,="9"5.9!0.-!5+6,1!*,-"0!,C65,-!

+6,!K6109,G!+,1151"9+9E!)0CM@01-9E!90=0;,E!,+CP!!#6,!16,+51"C!@09!54+,.!,C65,-!)>!

".-";,.5(9!K,5K2,!+6,*9,2=,9P!!&6,!90>9E!+6,!".-";,.5(9!K,5K2,!-"-!.5+!1,9K,C+!+6,!

K52"C,P!!$5@,=,1E!@60+!96,!90>9!0+!+6,!,.-!-,*5.9+10+,9!+6,!C1599150-9!96,!"9!".G!

! UWc!

96,!0CM.5@2,-;,9!+60+!+6,!P&,8;*!60KK,.,-!),C0(9,!+6,!/1,9"-,.+!9+52,!".-";,.5(9!

20.-!0.-!@,!C0..5+!0;1,,!@"+6!+60+P!

!

!

@&M$

!

#6,!*59+!"*K0C+4(2!K01+!54!20!6(,2;0!451!Q(LE!2"M,!](0.0E!@09!),".;!5(+!54!

9C6552!0.-!.5+!),".;!0)2,!+5!1,+(1.!65*,P!!&6,!-,9C1"),9!0!4,,2".;!54!90-.,99!

),C0(9,!9C6552!@09!5(+E!0.-!0295!),C0(9,!6,1!*5+6,1!@09!.5+!0)2,!+5!K"CM!6,1!(K!

2"M,!96,!+65(;6+P!

!

! UWU!

!

!

!

%*51?,8$

$

!

!

!

$

$

$

$

A01"),2!,BK,1",.C,-!+6,!6(,2;0!415*!

65*,E!),C0(9,!96,!1,C,.+2>!011"=,-!0+!+6,!

C5.=,.+!".!VccZP!!$5@,=,1E!96,!

".C51K510+,9!e(1"*0;(09!".+5!6,1!

1,*,*),1".;!54!+6,!6(,2;0P!!&6,!90"-!+60+!

+6,1,!@09!0!9+1"M,!+60+!209+,-!0)5(+!0!@,,M!

".!6,1!65*,+5@.!)(+!+60+!e(1"*0;(09!60-!

.5+!,BK,1",.C,-!"+!>,+P!

&6,!90>9!0+!4"19+!6,1!,.+"1,!+5@.!2"9+,.,-!+5!

h01'"5*$R51,.(,E!0!1,;"5.02!10-"5!9+0+"5.E!

+5!6,01!.,@9!54!+6,!+10=,22".;!6(,2;0E!)(+!

925@2>!2,99!0.-!2,99!K,5K2,!2"9+,.,-!0.-!

,=,1>5.,!),;0.!+5!451;,+P!

'22(9+10+,-!"9!6,1!65(9,!415*!@6"C6!96,!

2"9+,.,-!+5!+6,!10-"5P!

! UWV!

$

$

$

$

$

%*58,.,$

$

!

!

A012,.,h9!.0110+"=,!965@9!0!-,,K!(.-,19+0.-".;!54!+6,!K52"+"C02!C5.+,B+!54!

+6,!6(,2;0P!!A012,.,!+10=,2,-!+5!6,1!65*,+5@.!-(1".;!+6,!6(,2;0E!0.-!".!6,1!

.0110+"=,E!2"M,!A01"),2E!96,!"*0;".,9!+6,!,44,C+!54!+6,!6(,2;0!5.!e(1"*0;(09E!,=,.!

+65(;6!96,!@09!.5+!".!e(1"*0;(09P!!Q"M,!*59+E!96,!K20C,9!0.!,*K609"9!5.!+6,!40C+!

+60+!5.C,!+6,!6(,2;0!@09!5=,1E!+6,>!C5(2-!4".022>!;5!+5!9C6552!0;0".P!

!

!

! UWX!

! ! ! ! ! u!u!u!

#6"9!0C+"="+>!1,=,02,-!+6,!C5*K2,B"+>!54!+6,!@0>!)51-,19!60=,!4(.C+"5.,-!".!

+6,!;"129h!2"=,9P!!!#6,"1!P&,8;*!.0110+"=,9!1,K1,9,.+!*(2+"K2,!C1599".;9!54!,B"9+".;!

)51-,120.-9R!0.-!+6,>!1,K1,9,.+!1,NC1599".;9!54!)51-,19!+6,>!60=,!021,0->!C1599,-G!

65*,!+5!C5.=,.+P!!?5@E!+6,>!01,!451C,-!+5!2,0=,!0;0".!0.-!".!+6,!C09,9!54!+659,!@65!

C0..5+E!+6,>!01,!451C,-!+5!@0"+!015(.-!+6,!C5.=,.+E!@"+6!.5!9C6552!0.-!.5+!,.5(;6!

455-P!!#6,!*0".!45C(9!451!022!54!+6,*!9,,*9!+5!),!+6,!C259".;!54!+6,!9C6552P!!#6,!

C5.C,1.!451!+6,!C259".;!54!+6,!9C6552!0.-!+6,!)51,-5*!54!.5+!),".;!".!9C6552!965@9!

65@!+6,9,!01,!.0110+"=,9!0)5(+!+6,!6(,2;0!415*!+6,!K,19K,C+"=,!54!>5(.;!;"129!@65!

-5!.5+!60=,!C259,!65*,9!+5!;5!+5!@6,.!*0d51!C5.42"C+!5CC(19!".!e(1"*0;(09P!

#6"9!C5.42"C+N!".6,1,.+2>!5=,1!;,5;10K6>N!"9!1,K1,9,.+,-!+615(;6!0!(."8(,!

K,19K,C+"=,!54!+6,!;,5;10K6>!54!+6,!C5.42"C+!"+9,24R!1,=,02".;!+6,!)51-,19!+6,>!60-!+5!

C1599!0.-!1,NC1599!),C0(9,!54!5(+9"-,!C"1C(*9+0.C,9P!

!

#6,!@1"+".;!0C+"="+>!"+9,24!K1,9,.+9!0!(."8(,!)51-,120.-!".!+60+!+6,!,=,.+!5.!

@6"C6!+6,>!01,!.0110+".;!"9!@60+!451,*59+!K20C,9!+6,*!".!0!951+!54!C1599N150-9E!

)51-,120.-!9K0C,P!!A59+!54!+6,!;"129!@,1,!451C,-!+5!1,+(1.!65*,E!0!K20C,!*0.>!60-!

.5+!),,.!+5!".!0!25.;!+"*,P!!D!4,@!65@,=,1E!2"M,!](0.0E!%2,.0!0.-!Q(L!@0.+,-!+5!;5!

)0CM!65*,!)(+!@,1,!.5+!0)2,!+5E!1,=,02".;!0!+,.9,!.,;5+"0+"5.!54!)51-,120.-9G!+659,!

+6,>!C5(2-!C1599E!+659,!+6,>!C5(2-!.5+E!0.-!+659,!+6,>!@,1,!451C,-!+5!1,NC1599P!

!

#6,>!60=,!),,.!(K155+,-!415*!+6,"1!65*,+5@.9!+5!2"=,!".!0!K20C,!+60+!609!

K15*"9,-!+6,*!,-(C0+"5.E!455-E!96,2+,1!0.-!,99,.+"022>!+5!),C5*,!".-,K,.-,.+!0.-!

! UWW!

9+15.;!@5*,.P!!D2*59+!022!54!+6,9,E!,BC,K+!451!+6,!209+!5.,E!@,1,!+0M,.!0@0>!-(1".;!

+6,!*5.+69!54!="52,.+!C5.42"C+P!!H60+!60KK,.,-!@09!+60+!+6,>!@,1,!5.C,!0;0".!

(K155+,-E!),C0(9,!+6,!C5.=,.+E!-(,!+5!5(+9"-,!C"1C(*9+0.C,9!@09!.5+!0)2,!+5!

K15="-,!+6,*!@"+6!@60+!+6,!4(.C+"5.!451G!455-!0.-!96,2+,1P!!%=,.!*51,!C5*K2"C0+,-G!

+6,!C5.=,.+!-"-!.5+!60=,!+6,!4(.-9!+5!9,.-!022!+6,!;"129!65*,R!*0.>!54!+6,!40*"2",9!

60-!+5!C5*,!(K!@"+6!+6,!*5.,>!+5!+10=,2!+5!+6,!C5.=,.+!".!51-,1!+5!-,2"=,1!*5.,>!

451!+6,!;"129!+5!+10=,2E!+6,1,451,!+10=,22".;!022!)0CM!+5;,+6,1!09!0!40*"2>P!!'.!+6,!

9"+(0+"5.9!@6,1,!+60+!@09!.5+!+6,!C09,E!*0.>!;"129!+,22!9+51",9!0)5(+!@02M".;!451!-0>9!

".!;15(K9!+5!-"44,1,.+!40*"2>!65*,9P!!#6,!;"129!@,1,!9+(CM!".!0!(."8(,!K52"+"C02!0.-!

;,5;10K6"C!)51-,120.-!".!+6"9!9"+(0+"5.G!!022!@,1,!5.!+6,!9"-,!54!+6,!".-";,.5(9!

K15+,9+,19!),C0(9,!+6,!"99(,!54!20.-!"9!95*,+6".;!+60+!"9!6,0="2>!4,2+!)>!+6,"1!5@.!

40*"2",9P!!e,+!0+!+6,!90*,!+"*,E!),C0(9,!54!+6,!K15+,9+9E!+6,>!C5(2-!.5+!1,C,"=,!+6,!

,99,.+"02!+6".;9!+5!9(1="=,E!2"M,!455-!0.-!96,2+,1P!!#6,1,451,E!@"+65(+!*5.,>!0.-!".!0!

)51-,120.-!0.>@0>9E!+6,>!@,1,!451C,-!+5!2,0=,E!),!(K155+,-E!5.C,!0;0".P!

!

D.!".-";,.5(9!.0110+"=,!54!+6"9!="52,.+!C5.42"C+!@09!*"99".;R!.0+"5.02!

1,9K5.9,!@09!10C"9+!0.-!-"9C(19"=,2>!0.-!K6>9"C022>!="52,.+E!".=,9+".;!6(;,!0*5(.+9!

54!*5.,>!".!0--9!+60+!2".M,-!".-";,.5(9!C5**(."+",9!+5!".+,1.0+"5.02!+,1151"9+!

0C+"="+",9!0.-!9()9,8(,.+2>E!+6,!.,@2>!"*K2,*,.+,-!20@!09!K01+!54!+6,!H,9+h9!H01!

5.!#,1151"9*P!!/,1(="0.!*,-"0!@09!-5*".0+,-!)>!6,0="2>!,-"+,-!="9(029!54!

".-";,.5(9!K15+,9+,19!+615@".;!15CM9!0+!F"..5C,.+f!952-",19P!!#6,!,BK,1",.C,!54!+6"9!

C5.42"C+!)>!+6,9,!K01+"C(201!;"129!1,=,029!0!*51,!C5*K2,B!4(.C+"5.!54!;,5;10K6>!".!

! UWY!

+6"9!1,;"5.P!!'+!1,=,029!65@!+6"9!;15(K!54!;"129!@1"+,!+6,*9,2=,9!".+5!0!6"9+51>!0.-!

-"9C5(19,!54!0.!".+,1.0+"5.02!C5.42"C+P!!b201m.!90>9G!

#6,!K15)2,*0+"C!1,20+"5.!54!@5*,.!".+,22,C+(029!x@5*,.!@65!@1"+,y!0.-!+6,!

+,1*9!54!K()2"C!-"9C5(19,!609!0295!),,.!;"=,.!0++,.+"5.!+5!)>!9C652019!@65!

60=,!,B0*".,-!+6,!@0>!".!@6"C6!@5*,.!0KK,01!".!+6,!@1"+".;!54!6"9+51>!

SVYTP!!

#6,9,!.0110+"=,9!0.-!"22(9+10+"5.9!0225@!+6,*!+5!F0KK,01f!".!+6"9!K01+"C(201!

6"9+51>!0.-!,=,.+E!@6,1,!+6,>!45C(9!5.!+6,!".+"*0C>!54!+6,"1!,BK,1",.C,9E!0.-!

1,=,02".;!+6,!@0>!+6"9!C5.42"C+!044,C+,-!+6,!".9+"+(+"5.9!0.-!K5K(20+"5.9!5+6,1@"9,!

";.51,-!0+!".+,1.0+"5.02!0.-!.0+"5.02!2,=,29G!9C65529E!C5.=,.+9E!0.-!+6,*P!

!

! UW^!

27

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!V_!Q(LE!UYE!2,++,1!@1"+".;!0C+"="+>!

! UW_!

Chapter 7 / Capítulo 7

Iluminando el mundo/me convierto en Pájaro: Invented Legends with Feminist

Protagonists

Warm-up Calentamiento 1) Writes about one power 1)Escribe un poder que

tienes You have

2) Write about one power you 2)Escribe un poder que te

Would like to have gustaría tener

! UW\!

H8&01.*.#"$,8$0&.#"I0,$6".+1,5("$,.$4JK*5":$$

'.=,.+,-!Q,;,.-9!@"+6!3,*"."9+!/15+0;5."9+9!

!

!

!

!

d@*$9P16*$h.(&61*'0*#*3$

-B$@&M$

$

<P,5,$\*'$".6,$*$21.;$\P"$P*#$(\"$#*&;P(,5']$$h'0,5*8#*$\*'$*8\*B'$6&51"&'`$

0&6P$0"5,$6&51"&'$(P*.$P,5$'1'(,5O$@&6U*]$R.,$.1;P(O$h'0,5*8#*$."(16,#$(P,$0"".$\*'$

8,''$?51;P(O$'"$'P,$',($"[[$("$,VQ8"5,$(P,$8*.#$".$\P16P$P,5$6*'(8,$\*'$?&18(O$\*82$

! UWZ!

(P5"&;P$(P,$("\.O$*.#$*'2$(P,$0"".$\PB$1('$81;P($;5,\$#100,5]$$<P,$0"5,$'P,$\*82,#O$

(P,$0"5,$(P,$0"".$8"'($1('$81;P(O$&.(18$[1.*88BO$(P,$,.(15,$Q*8*6,$\*'$#*52$*.#$(P,$Q,"Q8,$

"[$(P,$,0Q15,$;5,\$6".6,5.,#]$$h'0,5*8#*$["&.#$P,5$\*B$?*62$("$P,5$5""0O$1.("$(P,$

?,#$.,V($("$(P,$\1.#"\$(P*($."50*88B$\"&8#$P*+,$P*#$*$+1,\$"[$(P,$0"".O$*.#$(P,5,$

'P,$\,.($("$'8,,Q]$$=P,$*\"2,$("$*$\,*2,.,#$0"".$*($P,5$\1.#"\$6*881.;$P,5$.*0,:$$

dh'0,58*#*3O$dh'0,5*8#*3]$$$

=P,$'(*5,#$*($(P,$0"".O$1.$*#015*(1".O$*.#$[1.*88BO$*'2,#$(P,$0"".$\P*($'P,$\*.(,#]$$$

<P,$0"".O$?,.($*.#$(15,#O$'*1#:$

dh'0,5*8#*O$1($1'$."\$B"&5$K"?$("$188&01.*(,$(P,$\"58#O$?,6*&',$0B$(10,$P*'$

,.#,#3]$

h'0,5*8#*$*66,Q(,#]$$=P,$5*.$("$P,5$[*(P,5O$(P,$21.;O$("$(,88$P10$*?"&($P,5$.,\$#&(B$("$

188&01.*(,$(P,$\"58#]$$<P,$m1.;O$P"\,+,5O$\*'$&Q',($*.#$'*1#$'P,$1'$."($(P,$51;P($Q,5'".$

["5$(P1']$

h'0,5*8#*$651,#$*.#$651,#O$(51,#$("$6".+1.6,$P,5$[*(P,5O$(P,$21.;O$(P*($'P,$P*#$\P*($1($

(*2,'$("$188&01.*(,$(P,$\"58#$*.#$("$?,$(P,$\"58#Y'$',6".#$0"".]$

<P,$m1.;$;5,\$?1((,5O$*.#$',.($h'0,5*8#*$("$?,$8"62,#$1.$*$5""0$&.(18$(P,$8*'($#*B$"[$

P,5$81[,$

$ $ $ j$

$

<P,$0"5.1.;$"[$(P,$8*'($#*B$"[$P,5$81[,O$P,5$[*(P,5O$(P,$21.;O$',.($h'0,5*8#*$("$#1,$1.$*$

[*5$*\*B$#,',5(]$$

X,*5'$8*(,5O$(P,$0"".$5,(&5.,#O$\,*2$*.#$#10O$*.#$["&.#$"&($(P*($(P,$;158$\P"$\"&8#$

?,$(P,$\"58#Y'$',6".#$0"".$#1,#$1.$*$[*5$*\*B$#,',5(]$$$$

! UYc!

!

#6"9!9+51>!@09!+52-!+5!*,!)>!Q(LE!@6,1,!96,!90+E!09!02@0>9!".!+6,!-,9M!0+!+6,!

401+6,9+!2,4+!C51.,1!54!+6,!C2099155*!".!+6,!)";*5P!!&6,!@1"+,9!8(",+2>E!02@0>9!

,.+6(9"09+"C!0+!+6,!C60.C,!54!"22(9+10+"5.P!!#6"9!9+51>E!FQ0!O6"C0!%.+6(C"09*0-0f!"9!

@60+!96,!K15-(C,-!@6,.!96,!@09!09M,-!+5!".=,.+!0!2,;,.-!51!*>+6!@6,1,!96,!60-!

+5!+(1.!6,19,24!".+5!+6,!*0".!K15+0;5."9+P!!#6,!-0>!),451,E!96,!60-!@1"++,.!0.-!

"22(9+10+,-!@60+!96,!C20"*,-!+5!),!+6,!*59+!@,22NM.5@.!*>+6!".!022!54!+6,!D*0L5.!

0.-!022!54!/,1nE!0.-!5.,!+60+!51";".0+,-!".!6,1!="220;,!C5**(."+>P!!!

!

Q(LE!@65!"9!4"4+,,.!0.-!609!),,.!".!+6,!C5.=,.+!9".C,!96,!@09!,2,=,.E!@1"+,9!

6,1!5@.!2,;,.-!@6,1,!96,!1,C5.9+1(C+9!+6,!25=,!9+51>!),+@,,.!6,1!*5+6,1!0.-!

40+6,1E!1,4,11".;!+5!+6,*!09!*>+6"C02!;5-N2"M,!K,5K2,!@65!C1,0+,-!25=,!".!+6,!1,;"5.P!

'!-"9C5=,1,-E!+615(;6!6,1!2,++,19!65*,E!+60+!6,1!K01,.+9!01,!0C+(022>!-"=51C,-E!0.-!

96,!1,9,.+9!6,1!40+6,1!451!60=".;!0.5+6,1!40*"2>P!!&6,!90>9!96,!-5,9!.5+!1,*,*),1!

6,1!40+6,1!),451,!96,!@09!5.,!>,01!52-R!96,!5.2>!M.5@9!+60+!+60+h9!@6,.!,=,1>+6".;!

C60.;,-P!!!

&6,!@1"+,9E!!F06510!9",.+5!8(,!+(!4("9+,!*02!K0-1,!C5.!*";5R!K,15!09j!*"9*5!

+,!25!0;10-,LC5!0(.8(,!.5!60;09!.0-0!K51!*"q06510!8(,!,9+5>!;10.-,!.5!K(,-5!

9,.+"1!25!8(,!0.+,9!*,!0C01"C"0)09!C(0.-5!+,.j0!(.!0k5R!-,9-,!,9,!-j0!9,.+j!8(,!.5!

+(=",10!(.!K0-1,!0!*"!20-5fP!!C"\$H$2."\$(P*($B"&$\,5,$*$?*#$[*(P,5]$$C,+,5(P,8,''$H$

(P*.2$B"&$,+,.$(P"&;P$B"&$P*+,$#".,$."(P1.;$["5$0,j."\$(P*($H$*0$;5"\.O$H$6*.Y($

5,0,0?,5$\P*($1($[,8($812,$\P,.$B"&$&',#$("$P"8#$0,$\P,.$H$\*'$".,$B,*5$"8#]$$=1.6,$

(P*($#*BO$H$P*+,$*8\*B'$[,8($*'$(P"&;P$H$#".Y($P*+,$*$[*(P,5$?B$0B$'1#,]!!

! UYU!

A0.>!54!Q(Lh9!9+51",9!01,!4(22!54!,K"C!25=,!K25+9P!!&6,!609!".=,.+,-!+6,*!+5!

1,C5.9+1(C+!6,1!5@.!K01,.+h9!1,20+"5.96"KG!+615(;6!4"C+"5.E!96,!),C5*,9!@"+.,99!+5!0!

25=,!+60+!96,!C5(2-!.5+!60=,!K599")2>!),,.!@"+.,99!+5!),451,!96,!@09!)51.!51!),451,!

+6,!0;,!54!5.,P!!J(+!@65!"9!+5!90>!+60+!96,!@09!."(!@"+.,99!+5!"+i!!'+!"9!5)="5(92>!+6,!

@0>!96,!609!,BK,1",.C,-!"+R!96,!609!,=,.!C5.9+1(C+,-!0!@652,!.0110+"=,!015(.-!0.!

,=,.+!96,!-5,9!.5+!1,*,*),1P!!Q55M".;!0+!+6,!*,,+".;!54!4"C+"5.!0.-!F+1(+6fE!'!9,,!

65@!Q(L!609!(9,-!4"C+"5.!09!0!@0>!+5!1,N@1"+,!6,1!5@.!2"4,!9+51>E!@,!@,22!09!6,1!

K01,.+h9P!!O5.9"-,1!+6,!,=,.+9E!,BK,1",.C,9!0.-!F40C+9f!54!Q(Lh9!2"4,G!0)0.-5.,-!0+!

5.,E!2"=,-!@"+6!6,1!*5+6,1!(.+"2!,2,=,.E!9,.+!+5!+6,!C5.=,.+!0+!,2,=,.!@6,1,!96,!609!

9K,.+!45(1!>,019!1,C,"=".;!0.!,-(C0+"5.!".!+6,!+5@.!".!@6"C6!+6,!C5.=,.+!9"+9E!0.-!

C5.+1")(+".;!+5!+6,!-0"2>!C651,9!@6"C6!96,!9601,9!0.-!15+0+,9!0*5.;!9,=,.+,,.!

5+6,1!;"129P!!#6,!2,;,.-!+60+!Q(L!609!".=,.+,-!1,42,C+9!.5+!+6,!C615.525;"C02E!C0(902!

0.-!2".,01!,=,.+9!54!0!>5(.;!;"12h9!2"4,E!)(+!+6,!"..,1!C1,0+"=,!"*0;".0+"5.!54!65@!96,!

,BK,1",.C,9!+6"9!2"4,P!!A>+6!0.-!2,;,.-!C1,0+"5.!),C5*,!*,-"(*9!54!0(+5)"5;10K6>E!

4"22,-!@"+6!*,+0K651E!4"C+"5.E!0.-!C6010C+,1NC1,0+"5.9P!#6,!".=,.+,-!2,;,.-!),C5*,9!

+6,!*,-"(*N+6,!9K0C,N+615(;6!@6"C6!40C+(02!0(+5)"5;10K6>!0.-!*>+65NK5,+"C!

K15-(C+"5.!".+,19,C+!0.-!K15-(C,!0!2"4,!6"9+51>P!!!

H"+6".!+6,!2,;,.-p*>+6!+60+!Q(L!609!".=,.+,-E!+6,1,!01,!*,+0K6519!0.-!

9";."4",19!415*!+6,!,=,.+9!54!6,1!5@.!2"4,P!!'.!+6,!@512-!54!40C+(02!0(+5)"5;10K6>E!@,!

M.5@!+60+!Q(Lh9!40+6,1!2,4+!0+!0;,!5.,!0.-!+60+!96,!1,9,.+9!6"*!451!60=".;!0.5+6,1!

40*"2>P!!'.!6,1!".=,.+,-!2,;,.-E!96,!C1,0+,9!+@5!9"9+,19N!5.,!54!@6"C6!C5.+".(,9!+5!

2"=,!".!+6,!K020C,!0.-!609!.5+!90C1"4"C,-!0!40+6,1h9!25=,P!!#6"9!5+6,1!9"9+,1!"9!=5"C,2,99!

! UYV!

0.-!1,20+"=,2>!0;,.C>N2,99R!96,!5.2>!9K,0M9!(K!+5!09M!+6,!9,1=0.+!@6,1,!6,1!9"9+,1!

609!),,.!K20C,-N!)(+!,=,.!+6"9!8(,9+"5.!"9!.0110+,-E!10+6,1!+60.!K20C,-!".!-"025;(,G!!

!

!#6"9!5+6,1!9"9+,1E!K15+0;5."9+!%9*,102-0!SQ(LTE!"9!K(."96,-!451!@0.+".;!+5!),!+6,!

@512-h9!9,C5.-!*55.E!0.-!451!@0.+".;!+5!"22(*".0+,!+6,!@512-!".!+6,!K20C,!54!0!->".;!

*55.P!!D9!K(."96*,.+E!96,!"9!25CM,-!".!0!155*!(.+"2!+6,!209+!-0>!54!6,1!2"4,E!@6,1,!

6,1!40+,!@"22!+6,.!),!-,C"-,-P!!<K5.!+6,!*51.".;!54!+6,!209+!-0>E!6,1!40+6,1!9,.-9!6,1!

+5!-",!".!0!-,9,1+E!90C1"4"C".;!+6,!2";6+!54!+6,!@512-!0.-!2,0=".;!+6"9!*>+6"C02!+09M!54!

"22(*".0+"5.!+5!),!2,4+!(K!+5!0.!021,0->N->".;!*55.P!!!

#6,1,!01,!*0.>!*>+6"C02!,2,*,.+9!".!+6"9!9+51>E!K15=".;!+6,!0.C",.+!C5.C,K+!

+60+!6(*0.!,BK,1",.C,!"9!*>+6N*0M".;P!!Q(L!-5,9!.5+!C1,0+,!0!9,.9,!54!+"*,!".!6,1!

*>+6E!0.-!54!65@!*(C6!+"*,!+0M,9!K20C,!".!),+@,,.!),".;!25CM,-!0@0>!@6,1,!@,!

M.5@!.5+6".;!54!6,1!2"4,E!+5!@6,.!+6,!-551!"9!(.25CM,-!5.!+6,!209+!-0>!54!6,1!2"4,E!0.-!

96,!"9!9,.+!+5!-",!".!0!401!0@0>!-,9,1+E!@6,.E!*,+0K651"C022>E!0!2";6+!"9!M"22,-P!!'.!+6"9!

".=,.+,-!2,;,.-E!@,!4".-!+@5!*0".!+6,*,9G!+6,!+6,*,!54!0!;"12!9,01C6".;!451!+6,!

1,095.!0.-!C0(9,!54!6,1!*5=,*,.+N!".!+6"9!C09,E!),".;!9,.+!0.-!25CM,-!0@0>!".!0!

155*E!51!9,.+!+5!0!401!0@0>!-,9,1+!5.2>!+5!-",P!!#6,1,!"9!0295!+6,!+6,*,!54!),".;!

51-0".,-!@"+6!0!9K,C"02!+09MN!".!+6"9!C09,E!0!=,1>!"*0;".0+"=,!0.-!*>+6"C02!+09M!54!

"22(*".0+".;!+6,!@512-N!),C5*".;!0!*55.P!!

7(+6!J,601E!".!6,1!K5,+"C!9,01C6!451!%9K,10.L0h9!2"4,!6"9+51>E!90"-!+60+!09!0!

>5(.;!0.+615K525;>!9+(-,.+E!96,!+10=,22,-!+5!0!9*022!1(102!+5@.!".!A,B"C5!+5!C522,C+!

! UYX!

%9K,10.L0h9!9+51>P!!&6,!.0110+,9!+60+!(K5.!*,,+".;!%9K,10.L0E!96,!1,02"L,9!+60+!

%9K,10.L0!60-!021,0->!K15-(C,-!0!2"4,!6"9+51>!),451,!+6,"1!,.C5(.+,1R!+60+!96,!@09!

".!40C+!C5.9+0.+2>!K15-(C".;!6,1!2"4,!6"9+51>E!@6,+6,1!+5!6,1!C6"2-1,.E!51!+5!6,1!

C2",.+9!@65!)5(;6+!+6,!K15-(C+9!54!6,1!C01+P!&6,!@1"+,9G!FJ,451,!*>!011"=02E!

%9K,10.L0!60-!021,0->!+65(;6+!0)5(+!6,1!2"4,!09!0!+,B+E!+,22".;!0.-!1,+,22".;!6,1!2"4,!

9+51>!+5!6,1!C6"2-1,.qf!SJ,601!UZZXTP!!J,601h9!"-,0!54!+6,!42("-"+>!0.-!C1,0+"="+>!54!

0(+5)"5;10K6>!9+1,99,9!+6,!),2",4!+60+!0(+5)"5;10K6>!C0.!+0M,!*0.>!451*9E!0.-E!".!

+6,!C09,!54!".=,.+".;!2,;,.-9E!+60+!4"C+"5.!C0.!),!0.!0(+5)"5;10K6"C02!+552P!!

'!0;1,,!@"+6!J,601!+60+!@,!C0..5+!255M!451!K,5K2,!+5!+,22!+6,!9+51",9!+6,>!@0>!

@,!M.5@!65@!+5!1,C,"=,!+6,*P!!#6"9!"-,0!C1,0+,9!0@01,.,99!+60+!@60+,=,1!9+51>!

95*,5.,!"9!+,22".;E!96,!"9!+,22".;!6,1!5@.!9+51>P!!'.!C5.9"-,1".;!+6,!C1,0+"="+>!54!+6,!

451*9!+60+!0(+5)"5;10K6>!C0.!+0M,E!@,!-5!.5+!60=,!+5!09M!+6,!8(,9+"5.E!"9!+6"9!+1(,!

51!.5+!+1(,i!!Q"M,!J,601h9!9+51>!9+1,99,9E!@,!C0..5+!099(*,!+60+!K,5K2,!-5!.5+!

021,0->!60=,!95*,!951+!54!+,B+!54!0!9+51>!@,!09M!+6,*!+5!K15-(C,P!!#6,!+,B+!54!

95*,5.,h9!2"4,!"9!.5+!.,C,9901"2>!@1"++,.E!0.-!@,!C0.!1,0-!0!2"4,!+,B+!".!@60+,=,1!

9+51*!451*!"+!"9!;"=,.!+5!(9P!!J,601!90>9!+60+!%9K,10.L0!4"19+!),;0.!+5!-,=,25K!6,1!

2"4,!9+51>!0+!4"=,E!@6,.!96,!@"+.,99,-!6,1!*5+6,1!),".;!0)(9,-!0.-!),0+!)>!6,1!

40+6,1P!!!J,601h9!C1"+"8(,!54!+6,!D.+615K525;"C02!@0>!54!C522,C+".;!2"4,!6"9+51",9!

,BK1,99,9!+6,!"-,0!+60+!@6,.!5.,!09!0!1,9,01C6,1!9,+9!+5!C522,C+!0!K,195.h9!2"4,!

6"9+51>!51!9+51>E!5.,!C0.h+!099(*,!+60+!+6"9!K,195.!-5,9!.5+!021,0->!60=,!0!2"4,!9+51>P!!

%9K,10.L0h9!2"4,!9+51>!60-!021,0->!+0M,.!0!+65(90.-!-"=,19,!960K,9!0.-!+,B+(1,9!

),451,!J,601!011"=,-!+5!C522,C+!"+!+615(;6!5.,!*,-"(*P!!H60+!J,601h9!@51M!0.-!*>!

,BK,1",.C,!C522,C+".;!C1,0+"=,!@1"+".;!415*!9,=,.+,,.!;"129!609!1,=,02,-!+5!*,E!"9!

! UYW!

+60+!'!965(2-!1,0-!95*,5.,h9!2"4,!+,B+!".!+6,!451*!"+!"9!K1,9,.+,-P!!#,B+9!C0.!+0M,!

*0.>!451*9E!9"*"201!+5!+6,!@0>!5.,!C0.!1,0-!0!K",C,!54!*(9"C!09!+,B+E!1,0-!4"2*E!,+CP!

0.-!K(22!5(+!0!9+51>P!

#6,!K15)2,*!@"+6!@,9+,1.!0(+5)"5;10K6>!"9!+60+!@,!+0M,!K,5K2,h9!2"=,9!+55!

2"+,1022>P!!'!1,d,C+!+6,!099(*K+"5.!+60+!0.!0(+5)"5;10K6>!609!+5!+0M,!+6,!451*!54!0!

C615.525;"C02E!40C+(02E!K,195.02!2"4,!,=,.+P!!D(+5)"5;10K6>!965(2-!.5+!),!9,,.!09!0!

*,-"(*!+60+!d(9+!9K,0M9!+5!1,02!,=,.+9E!+60+!"+!"9!+1(+6E!51!+60+!+6,1,!"9!,=,.!0!+1(+6!+5!

),!+52-P!#6,!2".,01!,=,.+9!54!5(1!2"=,9!01,!.5+!@6,1,!C1,0+"="+>!2",9P!!H65!"9!+5!90>!

+60+!Q(Lh9!".=,.+,-!2,;,.-!"9!.5+!1,02i!!H65!"9!+5!90>!+60+!96,!"9!.5+!2"=".;!5(+!+6"9!

*>+6!96,!609!C1,0+,-i!

!

)&0*.$,VQ,51,.6,$*.#$0B(P$

#6,!2,;,.-!+60+!Q(L!@15+,!C0*,!5(+!54!0.!0C+"="+>!@6,1,!'!09M,-!+6,!;"129!54!

+6,!$5;01!20!J(,.0!%9K,10.L0!+5!@1"+,!0!2,;,.-!51!*>+6!@6,1,!,0C6!@1"+,1!@09!+6,!

*0".!K15+0;5."9+P!!H60+!@09!K15-(C,-!-(1".;!+6"9!0C+"="+>!+5(C6,9!5.!+6,!"-,0!+60+!

6(*0.!,BK,1",.C,!"9!*>+6N*0M".;P!!H60+!*>+69!-5!+6,>!K15-(C,i!!H6"C6!5.,9!-5!

+6,>!2"=,!5(+i!H6"C6!5.,9!-5!+6,>!C5.+,9+i!!'.!+6,!90*,!@0>!+60+!%9K,10.L0!60-!

021,0->!C1,0+,-!0!1"C6!+,B+(02!2"4,!54!6,1!2"4,!6"9+51>E!Q(L!0.-!+6,!9"B+,,.!5+6,1!;"129!

@65!@15+,!),9"-,!6,1E!60=,!0!1"C6!0.-!->.0*"C!2"4,!+,B+P!

#6,1,!01,!C5**5.!+6,*,9!+60+!,*,1;,-!".!022!+6,!9,=,.+,,.!".=,.+,-!

2,;,.-9!K15-(C,-E!54!@6"C6!'!"-,.+"4>!+61,,G!!!

UP #10=,2!0.-!,K"C!d5(1.,>9!

VP D!)51-,1!S0.-!)51-,1NC1599".;T!09!0!*>+6"C02!9K0C,E!0.-!5.,!54!K5@,1!

! UYY!

XP &,-(C+"5.!

D9!'!@"22!,BK20".!20+,1E!,8(022>!"*K51+0.+!09!@60+!+6,!+,B+9!90>!S4"C+"5.02!0.-!.5.N

4"C+"5.02!09K,C+9p+10=,2p9,B(02!0;,.C>p*5-,1.!25=,!9+51",9TE!"9!0295!@60+!-5!+6,>!#"!

SC1,0+,!C0*010-,1",E!C522,C+"="+>E!K,1451*0.C,E!C5.4"-,.C,TP!!!

'.!".=,.+".;!*>+69!0.-!2,;,.-9!@"+6!+6,*9,2=,9!09!K15+0;5."9+9E!+6,>!)5+6!

9601,!+6,"1!2"4,!9+51",9!0.-!0+!+6,!90*,!+"*,!,BK251,!0!9,.9,!54!9,24P!#6,!2,;,.-9!+6,>!

K15-(C,-!+,22!9+51",9!54!,K"C!25=,!0440"19E!*09+,14(22>!C104+,-!9,-(C+"5.9E!

0)0.-5.*,.+!0.-!9(1="=02E!+6,!.,,-!+5!4".-!0!;1,0+,1!+1(+6E!+10=,2!0.-!9,24N

+10.9451*0+"5.P!!A59+!".=52=,!0!>5(.;!;"12!09!+6,!K15+0;5."9+E!0.-!".!+6,!9+51",9!

@6,1,!+10=,22".;!".451*9!+6,!K25+E!+6,!K15+0;5."9+!"9!(9(022>!+6,!90*,!0;,!09!+6,!

0(+651!0+!+6,!0;,!96,!2,4+!65*,!0.-!011"=,-!0+!+6,!C5.=,.+P!

'.!099";.".;!+6"9!0C+"="+>E!'!C01,-!2,99!0)5(+!+6,!+6,51,+"C02!"*K2"C0+"5.9!+60+!+6,"1!

@51M!609E!)(+!+6,!"*K2"C0+"5.!"+!609!5.!+6,"1!2"=,9!0.-!+6,"1!"-,09!54!@60+!"+!*,0.9!+5!

),C5*,!0!@5*0.P!!!

'.!1,+(1.".;!+5!+6,!"-,0!+60+!@,!,BK,1",.C,!5(1!2"=,9!09!*>+6!0.-!5(1!*>+69!

09!5(1!2"=,9E!0.-!+60+!0(+5)"5;10K6>!"9!.,"+6,1!0)5(+!+6,!1,C5=,1".;!54!K20(9")2,!

,BK,1",.C,9!.51!+6,!8(,9+!451!+1(+6R!'!+6".M!"+!.,,-9!+5!),!0CM.5@2,-;,-!65@!+1(2>!

"..5=0+"=,!+6,"1!2,;,.-9!01,P!!#5!),;".!+5!9K,0M!54!+6,!1"C6!C1,0+"="+>!".!+6,"1!2,;,.-9!

0.-!+6,!9K0C,!54!,.C5(.+,1!0.-!".+,19,C+"5.!+6,>!C1,0+,!S0*5.;!+6,*G!4"C+"5.!=9P!

+1(+6E!".-";,.5(9!=9P!*5-,1.E!5102!=9P!@1"++,.TE!"+!"9!"*K51+0.+!+5!),;".!+6"9!9+51>!

@"+6!65@!+6,>!),;0.!+6,"1!9+51>G!+6,!C1,0+"5.!54!6,19,24!09!K15+0;5."9+P!

!

-,6"01.;$*$Q5"(*;".1'($

! UY^!

$dR&5$.,,#$["5$'("51,'$"[$"&5$81+,'$1'$'"$P&;,O$'"$1.(,.',O$'"$[&.#*0,.(*8O$(P*($

\,$\"&8#$8"',$"&5$P&0*.1(B$1[$\,$'("QQ,#$(5B1.;$("$(,88$'("51,'$"[$\P"$\,$

(P1.2$\,$*5,3$$

$ $ $ _G&(P$-,P*5O$d<5*.'8*(,#$b"0*.3$aeef$

d(P,$["&5$"[$&'$'(188$#\,88$1.$"&5$6P18#P""#$P"0,O$6*55B$1($\1(P$&'O$812,$(&5(8,'$

6*55B$(P,15$P"0,'3$$

$ $ $ _4*($%"5*O$d)"&',$"[$)"&','3$aeek!

!

#6,!C1,0+"5.!54!5.,9,24!09!0!K15+0;5."9+!C0.!),!2"),10+".;P!!D!C60.C,!+5!1,N

@1"+,!5.,h9!9+51>E!+5!+,22!"+E!+5!K15-(C,!95*,+6".;!C1,0+"=,E!"9!2"),10+".;G!0.-!".!+6,"1!

C09,E!"+!-,*5.9+10+,9!+6,!K15C,99!54!*0+(1".;!".+5!@5*0.655-P!!#6"9!"9!+6,!2"4,!9+51>!

+6,>!+,22G!+6,>!9K,0M!+5!0!9K0C,!1,20+"=,2>!=5"C,N2,99E!+5!0!9K0C,!".!@6"C6!+6,>!09!

>5(.;E!+6,>!09!@5*,.E!+6,>!09!".-";,.5(9E!01,!.,=,1!09M,-!+5!K15-(C,!0.>+6".;!)(+!

+6,!0;1"C(2+(1,!5.!@6"C6!+6,!C5(.+1>!9(9+0".9!"+9,24P!

A>!*0".!".+,1,9+!".!,BK251".;!),C5*".;!0!K15+0;5."9+!"9!".!@60+!+6,!

".=,.+"5.!54!0!K15+0;5."9+!*,0.9!451!+6,!C5.9+1(C+"5.!54!;"12655-E!0.-!65@!+6,!

,BK,1",.C,!54!+60+!K15+0;5."9+!1,=,02!)5+6!+6,!".9"-,!0.-!5(+9"-,!,2,*,.+9!54!+6,"1!

C5.+,B+!09!>5(.;!".-";,.5(9!@5*,.!65(9,-!".!0!O01*,2"+,!C5.=,.+E!0@0>!415*!

+10-"+"5.E!415*!40*"2>E!415*!5102!C(2+(1,E!0.-!451C,-!+5!C5*,!54!0;,!".!0!K15-(C+!54!

*5-,1."+>P!!#6,51"9+!],0.!310.C5!90>9!+60+!".!+6,!Q0+".!D*,1"C0.!2"+,101>!

"*0;".0+"5.E!+6,1,!01,!+@5!K010-";*0+"C!4";(1,9G!F+6,!C615."C2,1p9+51>+,22,1E!@659,!

9M"229!-,1"=,!415*!51022>!+10.9*"++,-!C(2+(1,E!0.-!+6,!9(K,19+01!54!*099!C(2+(1,!

K15-(C+"5.f!S951(16*8$4*''1".'$UW_TP!!#6"9!K010-";*!0295!"22(9+10+,9!+6,!K010-";*!0+!

! UY_!

4(.C+"5.!".!+6,9,!;"129h!2"+,101>!K15-(C+"5.!)5+6!".!+6,!451*!+615(;6!@6"C6!+6,>!

),C5*,p".=,.+!K15+0;5."9+9!S2,;,.-!0.-!*>+6N*0M".;TE!".!+6,!2"+,101>!0.-!

+10-"+"5.02!+,.9"5.9!+6"9!".=,.+"5.!1,=,029E!0.-!".!+6,!,.C5(.+,1!54!C(2+(1,9!+60+!

+0M,9!K20C,P!

310.C5!9+0+,9!+60+!415*!+6"9!K010-";*!".!Q0+".!D*,1"C0.!2"+,101>!6"9+51>E!

+6,1,!,*,1;,-!+61,,!4";(1,9G!F0(+651E!.0110+51!0.-!9(K,19+01f!SUW_TE!4";(1,9!+60+!

@,1,!)51.!415*!+6,!+,.9"5.!54!".-";,.5(9!5102!C(2+(1,!0.-!*5-,1."+>P!!#6,!0(+6519!

54!+6,9,!2,;,.-9!022!C5*,!415*!0.!".-";,.5(9E!51022>!+10.9*"++,-!C(2+(1,P!!351!+6,*E!

*>+6N*0M".;!"9!.5+!1,2,;0+,-!+5!+6,!,B5+"C!C0+,;51>!54!452M251,E!)(+!+6,>!*0M,!(K!+6,!

-0"2>!9+51",9!)>!@6"C6!2"4,!"9!,BK20".,-E!,BK,1",.C,-!0.-!2"=,-P!!310.C5!+02M9!0)5(+!

+6"9!6"9+51"C02!,.C5(.+,1!54!".-";,.5(9!5102"+>!0.-!C0K"+02"9+!*5-,1."+>!+615(;6!)5+6!

0!+"*,N9K0C,!0.-!2"+,101>!9K0C,P!!'.!0!9,.9,E!+6,!K15-(C+"5.!54!+6,9,!2,;,.-9!)>!+6,9,!

;"129!@"+6".!+6"9!C5.=,.+h9!@0229E!-,*5.9+10+,9!0!1,02!,B0*K2,!54!65@!+6"9!,.C5(.+,1!

"9!,BK,1",.C,-P!

O5*".;!415*!5102!+10-"+"5.E!+6,>!01,!,BK59,-!+5!+6,!-0"2>!950K!5K,109!54!

.(C2,01!40*"2",9E!54!40*"2",9!54!+@5!51!2,99!C6"2-1,.E!54!-5;N5@.".;E!-5;N@02M".;E!54!

1"C6!;"129E!54!9,-(C+"5.R!022!54!@6"C6!*0M,!"+!".+5!+6,"1!*>+69P!!H60+!+6,"1!5@.!*>+6N

@1"+".;!K15=,9!"9!+60+!+6,9,!+6".;9!*5,$*>+69E!+6,>!4(.C+"5.!09!*>+69E!0.-!+6,>!*0M,!

+6,"1!@0>!".+5!+6,"1!5@.!"*0;".0+"5.P!!351!,B0*K2,E!5.,!;"12!"22(9+10+,-!6,1!2,;,.-!

@"+6!0!*5+6,1!@0=".;!0+!6,1!601-N@51M".;!6(9)0.-E!@"+6!+@5!M"-9!)>!6,1!9"-,E!

9*"2".;!)>!+6,!415.+!-551P!

! UY\!

!

310.C5!45C(9,9!5.!I0)1",2!I01C"0!A018(,Lh9!*>+6"C02!>,+!1,02!K20C,G!A0C5.-5E!

@6,1,!'.-";,.5(9!5102!+10-"+"5.!0.-!*5-,1."+>!".+,19,C+!0.-!C5*,!".+5!C5.42"C+E!

1,9"9+".;!C0K"+02"9*P!!&6,!90>9!+60+!5102!C(2+(1,!"9!K5@,14(22>!C5.9,1=0+"=,E!>,+!

1,9"9+0.+E!0.-!+60+!F@"+6!K1".+!C(2+(1,E!C522,C+"=,!0.-!".-"="-(02!*,*51>!9K2"+!0K01+fP!!

&6,!90>9E!F$"9+51>!1,C51-9!K()2"C!,=,.+9!0.-!*0M,9!".-"="-(02!*,*51>!K,195.02!0.-!

"11,2,=0.+!+5!K59+,1"+>f!SUW\TP!!351!+6"9!1,095.E!K20C".;!+6,!@1"+".;9!54!+6,9,!;"129!5.!

0!6"9+51"C02!+"*,2".,!5.2>!@51M9!0;0".9+!+6,*E!),C0(9,!"+!"9!K1,C"9,2>!6"9+51>!+60+!609!

9,@.!+6,"1!*5(+69!0.-!4".;,19!09!>5(.;!".-";,.5(9!@5*,.P!!!&5!65@!-5,9!".=,.+".;!

0.-!@1"+".;!0!2,;,.-!@6,1,!>5(!01,!+6,!*0".!K15+0;5."9+E!2"),10+,i!!$5@!-5,9!"+!

,BK251,!+6,!9,24!>,+!C1,0+,!C522,C+"="+>i!!!

310.C5!90>9!+60+!2"+,10+(1,E!51!+6,!K1".+,-!+,B+E!"9!=,1>!-"="-,-!415*!6"9+51>P!!

&K,0M".;!415*!0.!6"9+51"C02!K,19K,C+"=,E!96,!9K,0M9!+5!+6,!"**51+02"+>!54!K1".+G!

F/1".+!544,1,-!0!.,@!M".-!54!"**51+02"+>E!+6,!"**51+02"+>!54!9(1="=02!25.;!04+,1!+6,!

-"90KK,010.C,!54!+6,!,*K"1"C02!K,195.!@65!60-!5.C,!)51.!0!.0*,P!!&5!&60M,9K,01,!

@5(2-!K15*"9,!+60+!g$"9!),0(+>!96022!".!+6,9,!)20CM!2".,9!),!9,,.!p!D.-!+6,>!96022!

2"=,E!0.-!6,!".!+6,*!9+"22!;1,,.hf!SUWZTP!!

! UYZ!

310.C5!"9!022(-".;!+5!+6,!"-,0!+60+!),C0(9,!54!+6,!,*,1;,.C,!54!K1".+E!.5+!5.2>!

+6,!K15+0;5."9+E!)(+!0295!+6,!0(+651!),C5*,9!"**51+02E!1"KK".;!6"*p6,19,24!5(+!54!

6"9+51>E!0.-!5(+!54!K010-";*9!0.-!9+1(C+(1,9!+60+!;"=,!95*,!K5@,1!0.-!2,+!5+6,19!

-",!".!9"2,.C,P!!$5@E!+6,.E!+615(;6!),C5*".;!)5+6!K15+0;5."9+!0.-!0(+651!54!6,1!5@.!

2"4,!9+51>E!-5,9!96,!".=,.+!0!.,@!@512-!45(.-,-!5.!4,*".".,!0.-!".-";,.5(9!

,BK,1",.C,E!5.!.,@!9"+,9!0.-!-,4"."+"5.9!54!0(+65196"KE!0.-!5.!+6,!)2(11".;!54!

0(+65196"K!0.-!5102"+>E!10+6,1!+60.!"+9!9+1"C+!0.-!2"+,102!9,K010+"5.i!!$5@!"9!+6"9!

9*022!C2099155*NK20C,-!2"M,!0!=022,>!),+@,,.!+6,"1!),-155*9E!+6,!@022!+60+!652-9!+6,!

C25"9+,1,-!.(.9!5.!+6,!5+6,1!9"-,E!0.-!+6,!-551!@"+6!+6,!-5()2,!)52+,-!25CM!+5!+6,!

5(+9"-,!@512-N!2"M,!+6,!*>+6"C02!0.-!1,02!+5@.!54!A018(,Lh9!A0C5.-5i!!$5@!"9!+6"9!

C2099155*E!54!-5.0+,-!-,9M9E!1,2";"5(9!)55M9E!01+"90.!C104+9!*0-,!)>!+6,"1!60.-9E!

K"C+(1,9!9,.+!0.-!0(+5;10K6,-!)>!K09+!*"99"5.01>N=52(.+,,19N!FH,!@"22!.,=,1!451;,+!

>5(vfN!2"M,!A0C5.-5i!!310.C5E!".!+02M".;!0)5(+!65@!4"C+"5.!-,K"C+9!+6,!Q0+".!

D*,1"C0.!6"9+51"C02!9+1(;;2,!54!0!95C",+>!*5=".;!0@0>!415*!5102!C(2+(1,!0.-!

C522,C+"="+>E!0.-!54!+6,!9,K010+"5.!54!"*0;".0+"5.!0.-!6"9+51>!90>9G!!

#6(9!R.,$)&.#5,#$X,*5'$"[$="81(&#,!,.0C+9!+6,!K15C,99!54!45(.-".;!0!.,@!

M".-!54!95C",+>!(.M.5@.!+5!H,9+,1.!C(2+(1,E!+10C,9!"+9!K0+659E!0.-!965@9!"+9!

(2+"*0+,!"*K599")"2"+>P!!#6,!2"*"+9!54!A0C5.-5!+10C,!0!95C"02!022,;51>E!

965@".;!+60+!+6,!,.,1;",9!@6"C6!01,!41(9+10+,-!".!+6,!1,02"+>!54!Q0+".!

D*,1"C0!C0.!),!1,2,09,-!".!4"C+"5.!0.-!+60+!4"C+"5.!C0.!9+0=,!544!+6,!+0)559!5.!

@6"C6!95C",+>!"9!45(.-,-P!!J(+!"+!"9!4"C+"5.!54!0!K,C(2"01!M".-P!!](9+!09!02C6,*>!

4(9,-!9C",.C,!0.-!1,2";"5.E!+6,51>!0.-!K10C+"C,E!),451,!+6,"1!9,K010+"5.!".!+6,!

*5-,1.!0;,E!95![.,!$(.-1,-!e,019!54!&52"+(-,!9,,M9!+5!1,="=,!+6,!C615."C2,1!

! U^c!

451!@65*!+6".;9!09!+6,>!01,!0.-!+6".;9!09!+6,>!*";6+!),!01,!.5+!>,+!-"9+".C+!

SUYVTP!

D9!+6,!45225@".;!+6,*,9!0.-!,B0*K2,9!415*!+6,!;"129h!@1"+".;!-,*5.9+10+,9E!

(P1.;'$*'$(P,B$*5,E!(P1.;'$*'$(P,B$01;P($P*+,$?,,.O$0.-!+6".;9!09!+6,>!6"&8#!),!01,!

*09+,14(22>!)2(11,-!0.-!C5.+,9+,-E!1,=,02".;!+6,!"..,1!2"4,!54!;"129E!+6,!*,9*,1"L".;!

0.-!1,2,.+2,99!65K,!0.-!+6,!@0>!+6,>!,BK,1",.C,!+6,"1!2"4,P!!

$

hQ16$^"&5.,BI<5*+,8$$

d)"\$0*.B$(10,'$6*.$B"&$2,,Q$;"1.;$?*62p$H$#".Y($(P1.2$B"&$.,,#$("$;"$?*62$

*.B0"5,]3$

$ $ 7(+6!J,601E!F$0=".;!+5!90>!)>,!+5!J0)0f!SVcc_T!

'.!J,601h9!,990>!5.!1,+(1.".;!+5!],@"96!O()0E!96,!1,9K5.-9!+5!6,1!40*"2>h9!

8(,9+"5.".;!54!\PB$5,(&5.i!!J,601!609!@1"++,.!5.!+6,!*0.>!@0>9!+5!1,+(1.!+5!0!K20C,E!

0.-!+6,!*0.>!*,0.".;9!54!+60+!1,+(1.P!!'.!95*,!54!+6,!".=,.+,-!2,;,.-9E!0!C5**5.!

+6,*,!,*,1;,-!54!0!>5(.;!;"12!),".;!;"=,.!0!-(+>!+5!+10=,2P!!H6"2,!,=5M".;!+10=,2E!

+6,>!0295!1,=,02!+6"9!C5.C,K+!54!1,+(1.P!!J>!1,C1,0+".;!d5(1.,>9!+60+!K01022,2!+6,"1!

5@.!d5(1.,>9E!+6,>!54+,.!*0M,!+6,"1!C6010C+,19!1,+(1.!65*,E!51!0+!2,09+!C1,0+,!0!K25+!

".!@6"C6!0!C6010C+,1!"9!9,.+!401!0@0>!

0.-!-1,0*9!54!1,+(1.".;!65*,P!

!

A01"0!7590E!U^E!@1"+,9!0!9+51>!C022,-!

FQ0!7590!-,!:"59fP!!&6,!.0110+,9!+60+!

".!UZZXE!+6,!*59+!),0(+"4(2!;"12!@09!

! U^U!

)51.!".!0!K551E!9*022!+5@.!".!+6,!D*0L5.P!!&6,!@09!)51.!@"+6!25.;!),0(+"4(2!60"1!0.-!

0!.0(;6+>!K,195.02"+>P!!J,C0(9,!+6,!+5@.!@09!95!K551!0.-!-,9K,10+,E!0.-!),C0(9,!

96,!@09!95!),0(+"4(2E!6,1!K01,.+9!.0*,-!6,1!7590E!0!425@,1!+60+!)1".;9!65K,!0.-!

),0(+>P!

#6,!9+51>!C5.+".(,9!+60+!0+!+6,!0;,!54!+,.E!6,1!K01,.+9!*5=,-!+5!0!)";;,1!C"+>E!@6,1,!

96,!*,+!0!60.-95*,!)5>P!!D+!+@,2=,E!65@,=,1E!+6,>!9+5KK,-!),".;!C6"2-1,.E!+6,>!

9+5KK,-!K20>".;E!0.-!+6,>!;1,@!0K01+P!!$5@,=,1E!6,1!0++10C+"5.!451!6"*!;1,@P!!!

DCC51-".;!+5!6,1!9+51>E!A01"0!7590h9!K15+0;5."9+E!7590E!@09!+6,!*59+!

),0(+"4(2!0.-!".+,22";,.+!;"12!".!+6,!@652,!="220;,!+60+!1,9K,C+,-!0.-!=02(,-!6,1!

K01,.+9P!!$,1!K01,.+9!@,1,!@511",-!+60+!96,!@5(2-!.5+!*0M,!0.>+6".;!5(+!54!6,1!2"4,!

"4!96,!9+0>,-!".!+6"9!C"+>E!95!0+!+6"1+,,.E!96,!2,4+!401!0@0>!95!96,!C5(2-!;5!+5!9C6552!95!

+60+!96,!C5(2-!*0M,!95*,+6".;!54!6,1!2"4,P!!'.9+,0-E!96,!45(.-!0!;"4+!415*!I5-P!!D+!

9"B+,,.E!I5-!C0*,!+5!6,1!5.,!-0>!0.-!+52-!6,1!+5!+10=,2!+5!0!C5.=,.+!401!0@0>P!!#60+!

"9!@6,.!96,!45(.-!I5-P!!3"C+"5.02!7590!.5@!2"=,9!".!+6,!C5.=,.+!@6,1,!96,!@51M9!+5!

4".-!I5-!0.-!1,C,"=,!0.!,-(C0+"5.!".!51-,1!+5!4(24"22!6,1!-(+>!+5!1,+(1.!+5!6,1!+5@.!

0.-!*0M,!"+!0!),++,1!K20C,P!!

'.!A01"0!7590h9!2,;,.-E!96,!".=,.+9!0!K15+0;5."9+!.0*,-!7590!@65!"9!;"=,.!0!

9K,C"4"C!-(+>!+5!;,+!0.!,-(C0+"5.!0.-!"*K15=,1!6,1!+5@.E!)(+!"+!"9!.5+!.,C,9901"2>!0!

-(+>!"*K59,-!5.!6,1R!10+6,1E!"+!"9!5.,!96,!4".-9!+615(;6!K0>".;!C259,!0++,.+"5.!0.-!

+615(;6!-,=,25K".;!0!0.!".+"*0+,!C259,.,99!+5!I5-P!!&5!@60+!C5(2-!),!=",@,-!09!

".6")"+".;!0.-!C5.9,1=0+"=,!".!0!K59+*5-,1.E!2"),102!K,19K,C+"=,!"9!0C+(022>!

2"),10+".;E!".+"*0+,E!K15=5M".;!0.-!0-=,.+(15(9P!!$,1!2,;,.-!"9!0.!,B0*K2,!54!0!

+6,*,!45(.-!".!5+6,1!2,;,.-9!@6,1,!+10=,2!@09!,=5M,-G!,BK2510+"5.!51!0.!".=,.+"5.!

! U^V!

54!+6,!1,095.!451!+10=,2P!!'.!+6,9,!90*,!2,;,.-9!+60+!9601,!+6"9!+6,*,E!+6,1,!"9!

@"+65(+!40"2!02@0>9!0!K20C,!@6,1,!+6,!>5(.;!4,*02,!K15+0;5."9+!"9!9,.+P!!#6"9!K20C,E!

+65(;6!95*,+"*,9!-"1,C+2>!.0*,-!09!+6,!C5.=,.+!0.-!5+6,1!+"*,9!.5+E!"9!0C+(022>!

+6,"1!*,+0K651"L".;!54!+6,!C5.=,.+P!!&5E!+615(;6!+6,"1!2,;,.-9E!+6,>!0C+(022>!;"=,!

+6,*9,2=,9!0!1,095.E!0.!,BK20.0+"5.E!0!C0(9,!451!),".;!9,.+!0@0>P!!H60+!@09!5.C,!0!

95(1C,!54!K0".!),C5*,9!0.!,K"C!C0(9,!+615(;6!4"C+"5.P!!

! A01"0!7590h9!9+51>!-,*5.9+10+,9!6,1!5@.!9,01C6!451!+6,!C0(9,!54!6,1!),".;!0+!

+6,!C5.=,.+P!!351!7590!+6,!K15+0;5."9+E!"+!"9!+5!;,+!0!),++,1!,-(C0+"5.E!),C0(9,!I5-!

609!;"=,.!6,1!0!-(+>!+5!1,+(1.!+5!6,1!+5@.!+5!"*K15=,!"+P!!$5@!01,!+6,>!9(1,!54!@6>!

+6,>!01,!9,.+!0@0>i!!H60+!01,!+6,!1,095.9i!!#6,!1,095.9!-5.h+!0C+(022>!*0++,1N!@60+!

*0++,19!"9!+6,!9+51>!+6,>!+,22!0)5(+!"+P!

'!60-!),;(.!@"+6!0!K1".C"K02!.5+"5.!54!-"9K20C,*,.+N!+60+!+6,9,!;"129E!451!

=01"5(9!1,095.9E!01,!9,.+!51!C6559,!+5!+10=,2!401!415*!65*,!+5!2"=,!".!0!C5.=,.+P!!

#10=,2E!".!95*,!451*!51!0.5+6,1E!"9!-,K"C+,-!".!+6,"1!9+51",9P!!#6,1,!01,!*(2+"K2,!

2,=,29!54!+10=,22".;P!!&5*,!,BK1,99!,K"C!d5(1.,>9!54!C1599".;!*(2+"K2,!1"=,19!5=,1!0!

9";."4"C0.+!K,1"5-!54!+"*,!S@6"C6!01,!+6,!5.,9!*59+!C259,!+5!+6,"1!1,02!2"4,!6"9+51",9TP!

[+6,19!,BK1,99!+10=,2!*51,!".!+6,!9,.9,!54!*5=,*,.+!0.-!+10.9C,.-,.C,E!9(C6!09!

),C5*".;!0!*>+6"C02!C1,0+(1,E!9,-(C".;!6(*0.9!0.-!451C".;!+6,"1!C0K+"=,9!+5!2"=,!

(.-,1!@0+,1!S@6"C6!9+"22!1,42,C+!2"4,!6"9+51",9!),C0(9,!"+!-,*5.9+10+,9!+6,!".42(,.C,!

54!*>+6N*0M".;!0.-!2,;,.-9!5.!+6,"1!2"=,9TP!![+6,19!,BK1,99!+10=,2!".!9*022,1!

;,5;10K6"C02!9C02,9E!)(+!,K"C!8(,9+9N!2"M,!9,01C6".;!451!0!6,02".;!+1,,!-,,K!".!+6,!

d(.;2,E!51!=,.+(1".;!+615(;6!5=,1;15@.!;01-,.9!+5!4".-!0!425@,1!54!65K,P!!'.!+6"9!

9,C+"5.E!'!45C(9!*51,!5.!+6,!4"19+!,BK1,99"5.9!54!+10=,2N!201;,N9C02,!;,5;10K6"C02!,K"C!

! U^X!

+10=,2P!

'.!+6,!9+51",9!54!+10=,2E!"+!"9!.5+!0!1"+,!54!K0990;,!+60+!C0(9,9!+6,*!+5!+10=,2E!

)(+!*(C6!2"M,!".!+6,"1!1,02!2"4,!,BK,1",.C,9E!"+!"9!C"1C(*9+0.C,P!!#6,!45C(9E!65@,=,1E!"9!

+6,!d5(1.,>P!

!

!

!

e,99"C0!@65!"9!9,=,.+,,.E!*5=,-!+5!+6,!C5.=,.+!@6,.!96,!@09!

.".,!>,019!52-P!!&6,!+"+2,-!6,1!".=,.+,-!2,;,.-!F%2!e0C(1(.0fP!!!

&6,!.0110+,9!+6,!9+51>!54!%2!'.-"5!?5,!/".,-5!S?5,!/".,-5E!+6,!

'.-"0.TP!!?5,!/".,-5!"9!0.!'.-"0.!*0.!@65!"9!+10=,22".;!-5@.!

+6,!D*0L5.!7"=,1!@"+6!6"9!.".,!>,01!52-!-0(;6+,1P!!

!

!

[.!0!C0.5,!+5!,2!4(.-5!&0.!e,99"C0P!!/".,-5!9,,9!0!.0M,-!@5*0.!@65!"9!+1>".;!+5!

9".M!+6,!C0.5,P!!?5,!/".,-5!0.-!6"9!-0(;6+,1!4".-!+6,*9,2=,9!".!0!65(9,!!!

! U^W!

!

!(.-,1!@0+,1!*0-,!54!90.-P!#6,!@0229!01,!*0-,!54!1"=,1!9.0M,9!0.-!+6,!),.C6,9!01,!

*0-,!5(+!54!),0(+"4(2!.0M,-!@5*,.!@"+6!+6,"1!)5-",9!".+,1+@".,-!+5;,+6,1P!!D.!52-!

*0.!9"+9!0+5K!0!),-P!!#6,!'.-"0.!?5,!/".,-5h9!-0(;6+,1!@0.+9!+5!9"+E!)(+!@6,.!96,!

0KK150C6,9!+6,!),.C6!*0-,!54!.0M,-!@5*,.E!96,!1,02"L,9!+6,!".+,.+"5.!54!+6,9,!

@5*,.!5(+!54!@6"C6!+6,!65(9,!"9!*0-,E!0.-!96,!),;".9!+5!1(.E!+1>".;!+5!,9C0K,P!!#6,!

52-!*0.!>,22,-E!10.!+6,*!544E!0.-!+6,>!45(.-!+6,*9,2=,9!5.C,!0;0".!5.!+6,!C0.5,E!

6,0-".;!+5@01-!e(1"*0;(09E!+5!,2!3(.-5!e,99"C0P!

e,99"C0!C5.9+1(C+9!0!C6010C+,1!0+!+6,!0;,!54!ZP!!&6,!"9!0C+(022>!9,=,.+,,.!0+!+6,!

+"*,!54!@1"+".;!+6"9E!)(+!+6,!1,095.!@6>!+6,!.(*),1!.".,!"9!95!"*K51+0.+!"9!+60+!.".,!

"9!+6,!0;,!@6,.!96,!+10=,2,-!+5!+6,!C5.=,.+E!95!96,!C659,!+5!C5.9+1(C+!0!C6010C+,1!

+60+!1,42,C+,-!0!)";!+10.9451*0+"=,!*5*,.+!".!6,1!2"4,N!0.-!+6,!1,095.!@,!M.5@!+60+!

96,!C5.C,"=,9!54!+6"9!d5(1.,>!09!+10.9451*0+"=,!"9!+60+!+6,!K25+!+615(;6!@6"C6!+6"9!

C5.9+1(C+,-!K15+0;5."9+!*5=,9!"9!+60+!,B0C+2>G!0.!,K"C!d5(1.,>!+5!+6,!C5.=,.+E!4(22!54!

0-=,.+(1,!0.-!*>+6"C02!01C6,+>K,9E!0.-!@"2-2>!"*0;".0+"=,!"*0;,9P!!!

! U^Y!

'!-5!.5+!@0.+!+5!";.51,!+6,!)1"22"0.+!C1,0+"="+>!54!+6,9,!"*0;,9P!!#6,1,!"9!

02*59+!.5!0.02>9"9!+5!),!-5.,E!)(+!@60+!"9!1,8("1,-!"9!+5!9"*K2>!0-*"1,!9(C6!0!

60(.+".;!0.-!C1,0+"=,!"*0;,!0.-!9+51>P!!#6"9!2,;,.-!"9!0.!,B0*K2,!54!+6,!".4"."+,!

"*0;,9!@,!(9,!+5!C1,0+,!*,0.".;!0.-!+5!C5.C,"=,!54!5(1!,B"9+,.C,!09!6(*0.9!0.-!09!

@5*,.P!!#6"9!2,;,.-!"9!=,1>!".+,1,9+".;!".!+60+!"+!C5*)".,9!)5+6!0.!,K"C!d5(1.,>!09!

@,22!09!=,1>!".+,1,9+".;!4,*"."9+!*>+6"C02!"*0;,9P!!'+!"9!0295!409C".0+".;!),C0(9,!"+!

*0M,9!0!C2,01!-"9+".C+"5.!),+@,,.!;"12!0.-!@5*0.P!!&6,E!+6,!;"12E!"9!+6,!5.2>!C25+6,-!

4,*02,!".!+6,!9+51>P!!&6,!"9!0!2"++2,!;"12!@65!"9!41";6+,.,-!54!+6,9,!.0M,-!*>+6"C02!

@5*,.!@65!0++,*K+!+5!+10K!6,1!0.-!6,1!40+6,1!(.-,1!@0+,1P!!'+!"9!e,99"C0E!+6,!;"12E!

0.-!.5+!?5,!/".,-5!@65!90=,!+6,*!0.-!0225@!+6,*!+5!C5.+".(,!+6,"1!d5(1.,>P!

#6,"1!-,K"C+,-!d5(1.,>9!K01022,2!+6,"1!5@.!8(,9+!54!4,*02,!"-,.+"+>P!!#615(;6!

+6,9,!-,K"C+"5.9!54!>5(.;!;"129!+10=,22".;!0.-!,.C5(.+,1".;!@"2-2>!"*0;".0+"=,!

9"+(0+"5.9E!+6,>!01,!0295!,.C5(.+,1".;!+6,*9,2=,9P!!#6,51"9+!O1"9+".0!&0.+59!90>9!+60+!

2"+,101>!,BK1,99"5.!C5.+,9+9!5.,h9!C(2+(102!C5.+,B+!SVccWTP!!!'.!+6"9!C09,E!+6,!".=,.+,-!

2,;,.-9!-5!1,K1,9,.+!9+1(;;2,!".!+6,"1!5@.!95C"02E!C(2+(102!0.-!,C5.5*"C!C5.+,B+9E!

@6,+6,1!)>!C1"+"C"L".;!*02,!9(KK1,99"5.!54!4,*02,!0)"2"+>E!)>!".=,.+".;!0!K25+!@6,1,!

6,1!+5@.!@09!;5".;!+615(;6!0.!,K"-,*"C!0.-!96,!60-!+5!+10=,2!401!".!51-,1!+5!),!

,-(C0+,-!0.-!1,+(1.!+5!90=,!+6,!+5@.E!51!)>!".=,.+".;!0!9"+(0+"5.!@6,1,!0!455-!

9651+0;,9!0.-!6(.;,1!@09!1,=,19,-!)>!0!*,1*0"-!4(24"22".;!0!1,K1,99,-!9,B(02!

-,9"1,P!!$5@,=,1E!+6,9,!C1,0+"=,!".=,.+"=,!2,;,.-9!-5!*51,!+60.!1,K1,9,.+!9+1(;;2,R!

+6,>!1.+,.(]$$#6,!-,K"C+"5.!54!9+1(;;2,!".!+6,9,!2,;,.-9!2",9!.5+!".!K15+,9+!)(+!".!

C1,0+"5.P!!&0.+59!90>9G!!

Q"+,10+(1,!"9!5.,!54!0!.(*),1!54!,BK1,99"=,!*5-,9!+60+!.5+!5.2>!C5.9+"+(+,9!0!

! U^^!

K,5K2,h9!1,9K5.9,!+5!2"4,!)(+!0295!960K,9!+6,"1!C5**(."+>P!!D.-!

C5.9,8(,.+2>E!+6,!45(.-0+"5.02!K1,*"9,!451!+6"9!)55M!"9!+60+!2"+,101>!6"9+51>!

"9!C5.9"-,1,-!+5!),!K01+!54!+6,!C522,C+"=,!*,*51>!54!"-,.+"+>P!!#0M".;!+6"9!".+5!

0CC5(.+E!"4!2"+,101>!6"9+51>!"9!+5!),!,44,C+"=,!"+!965(2-!0KK150C6!+6,!2"+,101>!

K09+!)>!".+,1K1,+".;!"+!09!K01+!54!+6,!K1,9,.+E!)(+!@"+65(+!+6,!-,C,K+"5.!54!

K(1K51+".;!+5!),!+6,!K09+!1,C0K+(1,-!S-,.#1.;$(P,$G&8,'$VTP!

!

#6"9!"-,0E!+60+!2"+,101>!C1,0+"5.!,BK1,99,9!+6,!C522,C+"=,!*,*51>!54!"-,.+"+>E!

609!+5!),!C5*K2"C0+,-!".!+6,!C5.+,B+!54!+6,"1!9"+(0+"5.E!),C0(9,!@60+!C0.!@,!C5.9"-,1!

C522,C+"=,!".!+6,!C5.+,B+!54!+6,"1!,BK,1",.C,i!!H60+!C5.9+"+(+,9!09!*,*51>!6,1,i!!

H6,1,!-5!@,!25C0+,!*,*51>i!!D.-!,=,.!*51,!C5*K2"C0+,-G!@60+!C5(2-!K599")2>!),!

C5.9"-,1,-!C522,C+"=,!*,*51>!P,5,i!!!

'.!+6"9!@0>E!+6,!".=,.+,-!2,;,.-9!+6,>!@15+,!1,42,C+!+6,"1!-,9"1,!+5!65,*(,!

C522,C+"="+>E!K15=,-!".!+6,!40C+!+60+!,=,1!9".;2,!5.,!54!+6,!2,;,.-9!K15-(C,-!

,BK1,99,-!95*,!951+!54!+10=,2E!0.-!95*,!951+!54!1,02!51!*,+0K651"C!-,K"C+"5.!54!+6,!

C5.=,.+P!!'+!"9!.,C,9901>!+5!@5.-,1E!@60+!"4!5.,!54!+6,!;"129!@09!;"=,.!+6"9!90*,!

099";.*,.+!".!0!10.-5*!C2099155*!".!+6,"1!K()2"C!9C65529!S@6"C6!"9!0!9K0C,!

0CC,K+0)2,!451!+6,!K15-(C+"5.!54!C522,C+"=,!*,*51>Ti!!H5(2-!+6,>!),!8("CM!+5!.0*,!

+6,!C5.=,.+i!!H5(2-!+6,>!C1,0+,!.0110+"=,9!54!+10=,2i!A59+!2"M,2>!.5+E!),C0(9,!+60+!"9!

.5+!0!*,*51>!+6,>!@5(2-!60=,!9601,-!@"+6!+6,!9+(-,.+9!015(.-!+6,*!@65!60=,!022!

),,.!10"9,-!".!+6"9!+5@.P!!H6>!"9!"+!+60+!,=,1>!;"12!.0*,9!51!C1,0+,9!0!*,+0K651!54!

+6,!C5.=,.+i!!!

$

G,_(P1.21.;$(P,$9".+,.($

! U^_!

-,$(P"&$*'$6P*'(,$*'$16,O$*'$Q&5,$*'$

'."\O$(P"&$'P*8($."($,'6*Q,$6*8&0.B]$!,($(P,,$("$*$

.&..,5BO$;"]$$

_)*08,(O$T6(]f$=6,.,a$

'.!,=5M".;!+6,!C5.=,.+E!)5+6!09!*,+0K651!0.-!09!2"+,102E!+6,"1!@51M!965@9!

+6,"1!=",@!0.-!,BK,1",.C,!54!+6,!C5.=,.+!09!0!2"),10+".;!9K0C,P!!#6,!.0110+"=,!54!

,BK,1",.C".;!0!C25"9+,1,-!9K0C,!09!2"),10+".;!,B"9+9!".!95!*0.>!C(2+(1,9!0.-!C5.+,B+9P!!

D.+615K525;"9+!7,),CC0!]P!Q,9+,1h9!)55ME!F],9(9!".![(1!H5*)9f!SVccYT!,BK251,9!.(.!

2"4,!".!0!1(102!A,B"C0.!C5.=,.+P!!&6,!,BK20".9!+60+!+6,!S*59+2>T!>5(.;!@5*,.!@65!

,.+,1!+6,!&",1=09!C5.;1,;0+"5.!;"=,!(K!9,BE!40*"2>E!*5.,>E!0.-!".-,K,.-,.C,E!)(+!

96,!,BK20".9G!!

'!@0.+!+5!),!C2,01!+60+!'!0*!.5+!".+,1,9+,-!".!K9>C650.02>L".;!+6,9,!@5*,.!

51!-"9C5=,1".;!@60+!-,,KN9,0+,-!C5.42"C+9!*";6+!60=,!K15*K+,-!+6,*!+5!;"=,!

(K!9,B!0.-!C5*451+!451!0!2"4,!54!)2,0M!0(9+,1"+>!0.-!90C1"4"C,P!!70+6,1E!'!

K15K59,!0.!0.9@,1!".!+,1*9!54!0!+10.9451*0+"5.!54!9()d,C+"="+>P!!'!90@!+60+E!

+615(;6!+6,!,.;0;,*,.+!54!+6,!9K,C"4"C!-0"2>!K10C+"C,9!54!C5.=,.+!2"4,E!.,@!

,.+10.+9!+5!+6"9!C5.;1,;0+"5.!(.-,1@,.+!0!96"4+!".!9,.9")"2"+",9E!K,1C,K+"5.9E!

".+,1K1,+0+"5.9E!-"9K59"+"5.9E!0.-!*,*51>N!0!+10.9451*0+"5.!54!9()d,C+"="+>!

+60+!+6,!9"9+,19!(.-,19+55-!09!+6,!K15;1,99"=,2>!0C(+,!-"9C,1.*,.+!54!+6,"1!

+1(,!=5C0+"5.!0CC51-".;!+5!I5-h9!K20.!SWTP!!!

$,1!01;(*,.+!"9!+60+!+6,9,!>5(.;!@5*,.!,.+,1,-!+6,!C5.=,.+!2"4,!".!51-,1!+5!

,BK251,!0.-!-,02!@"+6!+6,!+,.9"5.9!0)5(+!),".;!@5*,.!".!0!*5-,1.!9+0+,P!!&6,!

,BK20".9!+60+!+6,>!.,"+6,1!90@!+6,*9,2=,9!09!-5*,9+"C0+,-E!+10-"+"5.02E!5),-",.+!

@5*,.E!)(+!.,"+6,1!-"-!+6,>!9,,!+6,*9,2=,9!09!+6,!@"2-E!=02(,N2,99!@5*,.!54!Q0+".!

! U^\!

D*,1"C0.!950K!5K,109P!!Q,9+,1h9!)1"22"0.C,!54!6,1!+6,51>!2",9!".!6,1!,BK2510+"5.!54!

65@!C5.=,.+!2"4,!"9!1,022>!0.!".+,.9,!,BK2510+"5.!54!@5*0.655-!0.-!I5-E!0.!

,BK2510+"5.!+60+!0+!"+9!C51,!"9!9,.9(02!0.-!2"),10+".;P!!&6,!,BK20".9!+60+!+6,!0=,10;,!

0;,!54!@6,.!+6,9,!@5*,.!C20"*,-!+6,>!4,2+!I5-h9!C022".;!@09!015(.-!+6"1+,,.!>,019!

52-E!F9";."4"C0.+!".!+60+!+6"9!"9!+6,!0;,!0+!@6"C6!>5(.;!;"129!01,!54+,.!,.+,1".;!K(),1+>!

0.-!),;"..".;!+6,"1!+10.9"+"5.!".+5!@5*0.655-f!SUUTP!!H60+,=,1!5.,!*0>!+6".M!54!

C5.=,.+9E!+6,!40C+!"9!+60+!,=,1>!>,01E!*51,!0.-!*51,!>5(.;!@5*,.!".!Q0+".!D*,1"C0!

01,!,.+,1".;!C5.=,.+9E!09!Q,9+,1!,BK20".9E!0.-!+6"9!*,1"+9!*51,!C01,4(2!,BK2510+"5.P!!

$5@!C0.!@,!2,0=,!),6".-!5(1!@,9+,1.!.5+"5.!54!C25"9+,1,-!9K0C,9!0.-!=",@!+6,*!09!

".+,.9,2>!2"),10+".;!9K0C,9i!!$5@!-5!+6,!;"129!54!%2!$5;01!20!J(,.0!%9K,10.L0!-5!

+6"9i!

#6,1,!01,!*0.>!,B0*K2,9!".!+6,"1!".=,.+,-!2,;,.-9!54!65@!+6"9!C5.=,.+!"9!

2"),10+".;P!!7590E!451!,B0*K2,E!609!+5!2,0=,!6,1!+5@.!".!51-,1!+5!1,+(1.!0!9+15.;,1!

0.-!*51,!,-(C0+,-!@5*0.!@65!@"22!+10.9451*!+6"9!+5@.P!!'+!"9!+6,!C5.=,.+!+60+!

4(.C+"5.9!09!+6,!9K0C,!@6,1,!+6"9!+10.9451*0+"5.!"9!;5".;!+5!60KK,.P!!#6"9!965@9!

65@!+6,!C5.=,.+!"9!2"),10+".;!.5+!".!+6,!9+1"C+2>!2"+,102!9,.9,!54![5,,#"0E!)(+!".!+6,!

C1"+"C02!*5*,.+!54!1,42,C+"5.E!@6,.!5.,!"9!0)2,!+5!255M!0+!5.,h9!5@.!2"4,E!0.-!C1,0+,!0!

9+51>!5(+!54!"+P!!&5E!".!+6"9!C09,E!+6,!C5.=,.+!"9!2"),10+".;!.5+!),C0(9,!"+!"9!+6,!K20C,!

+60+!;"=,9!6,1!41,,-5*E!)(+!+6,!K20C,!+60+!;"=,9!6,1!M.5@2,-;,!0.-!K5@,1G!+6,!K20C,!

+60+!;"=,9!6,1!+6,!5KK51+(."+>!54!1,+(1.E!54!,BK2510+"5.E!0.-!54!-1,0*".;P!!#6"9!"-,0!

C5.=,>9!0.!".-";,.5(9!K52>+6,"9+"C!K9>C6525;>!S,=,.!+65(;6!7590!C5.d(1,9!0!

O61"9+"0.!I5-TP!!#6"9!965(2-!),!0.02>L,-!.5+!09!7590!),".;!C5.=,1+,-!+5!

*5.5+6,"9*E!)(+!9"*K2>!0.-!".+,1,9+".;2>!09!+6,9,!01,!+6,!"*0;,9!96,!"9!;"=,!0.-!

! U^Z!

@"+6!@6"C6!96,!"9!K20>".;!@"+6P!!H60+!'!*,0.!)>!+6"9!"9!+60+!+6,!C5.=,.+!"9!+6,!

,.C5(.+,1!@6,1,!022!+6,9,!"*0;,9!".+,10C+P!!'+!"9!0295!+6,!C5.+0".,1P!!!H60+!*0M,9!"+!

2"),10+".;!"9!+60+!"+!"9!+6,!K20C,!@6,1,!+6,"1!".-";,.5(9.,99!,.C5(.+,19!+6,!@,9+,1.!

@512-P!

#6,!@,9+,1.!.5+"5.!54!2"),10+"5.!"9!+6,!@,9+,1.!.5+"5.!54!,=,1>+6".;G!2"+,102P!!

'4!+6,"1!".=,.+,-!2,;,.-9!+55M!5.!0!@,9+,1.!.5+"5.!54!0(+5)"5;10K6>E!+6,.!+6,"1!2"4,!

9+51",9!@5(2-!),!.5+6".;!*51,!+60.!*0d51!,=,.+9P!!351!+6"9!1,095.E!"4!+6,>!01,!09M,-!

+5!+,22!0!9+51>E!+6,.!0.!0(+5)"5;10K6>!1"C6!@"+6!C1,0+"="+>!"9!K15-(C,-P!!'.!+6,!

@,9+,1.!K9>C6,E!5.,!-5,9!.5+!2"=,!".!6,1!"*0;".0+"5.P!!#6"9!"9!@6>!9(C6!0!(."8(,!

,=,.+!09!2"=".;!".!0!C25"9+,1,-!C5.=,.+E!".!0!@,9+,1.!0(+5)"5;10K6>E!@5(2-!),!+6,!

C,.+102!022N"*K51+0.+!,=,.+R!"+!@5(2-!),!+6,!C,.+102!+6".;!+60+!C1,0+,9!*,0.".;E!

@6,1,09!".!+6,"1!2,;,.-9E!+6,!C5.=,.+!"9!)(+!5.,!+6".;G!"+!"9!9"*K2>!0!9K0C,!415*!

@6"C6!9+51",9!01,!,*,1;,-!+615(;6!0.-!015(.-!"+P!!H60+!"9!54!"*K51+0.C,!"9!65@!+6"9!

C5.=,.+!"9!"*0;".,-!0.-!65@!"+!"9!,BK,1",.C,-P!

#6,!C5.=,.+!),".;!"*K59,-!5.!+6,"1!2"=,9!"9!.5+!0!451*!54!"*K,1"02"9*E!54!+6,!

@,9+!,0+".;!+6,!.5.N@,9+E!),C0(9,!+6,!C5.=,.+!),C5*,9!0!9K0C,!@6,1,!1,42,C+"5.!"9!

K599")2,P!!'+!"9!0!9K0C,!451!+,0C6".;!0.-!2,01.".;E!@6"C6!".6,1,.+2>!609!0!*,0.".;!

*0M".;!8(02"+>!+5!"+P!

#6,!0C+(02!,=,.+9!54!+6,"1!2"=,9!01,!d(9+!9(140C,E!0.-!".!+6"9!9(140C,!"9!.5+!

@6,1,!*,0.".;!60KK,.9P!!#6,>!*";6+!;5!5(+!+5!2"=,!+6,!90*,!2"4,E!,=,.+9!@"9,E!)(+!

+60+!"9!.5+!C1,0+"=,P!!!O1,0+"="+>!-5,9.h+!,B"9+!".!+6,!9(140C,!,=,.+9!54!5.,h9!2"4,E!)(+!".!

+6,!*5*,.+9!54!1,42,C+"5.P!

!

! U_c!

<5*+,8$*'$(5*.'6,.#,.6,$

A01"0!]59,4".0!@1"+,9!+6,!2,;,.-!F<.0!=02",.+,!K1".C,90fE!@6"C6!.0110+,9!+60+!

+6,1,!@09!5.C,!+6,!*59+!),0(+"4(2!0.-!*>9+,1"5(9!K1".C,99!".!+6,!@512-P!!H6,.!+6,!

K1".C,99!@09!4"4+,,.E!96,!259+!6,1!*5+6,1!".!415.+!54!6,1!=,1>!,>,9P!!#6,!M".;!+1",-!+5!

*0M,!6,1!60KK>E!)(+!+5!.5!(9,P!!&6,!@09!25.,2>!0.-!90-E!0.-!96,!@02M,-!015(.-!6,1!

;01-,.P!![.,!.";6+E!96,!@02M,-!5(+!+5!+6,!;01-,.E!255M".;!0+!+6,!),0(+"4(2!425@,19!

0.-!+6,!),0(+"4(2!)2(,!9M>E!0.-!96,!2",-!-5@.!5.!+6,!;1099P!!#6,!M".;!@,.+!+5!;5!255M!

451!6,1E!0.-!45(.-!.5+6".;E!,BC,K+!+6,!*59+!),0(+"4(2!101,!425@,1!0.>5.,!60-!,=,1!

9,,.E!;15@".;!".!+6,!;01-,.P!!'+!"9!90"-!+60+!+6,!),0(+"4(2!425@,1!"9!+6,!K1".C,99!

+10.9451*,-E!0.-!"+!"9!90"-!+60+!K,5K2,!+10.9451*!".!51-,1!+5!90=,!5+6,19!415*!K0".E!

),C0(9,!+6,!425@,1!"9!*51,!+60.!0!9>*)52!54!),0(+>E!)(+!54!25=,!0.-!4"-,2"+>P!!!

F3"-,2"+>f!"9!(9,-!".!0.!".+,1,9+".;!@0>E!"+!609!0.!".+,1,9+".;!4(.C+"5.P!!$,1,E!4"-,2"+>!

"9!+5@01-!+6,!25=,!54!6,1!*5+6,1P!

!

-"5#,5$*'$Q"\,5$

dH$P*+,$(P,$Q"\,5$("$0*2,$P"&','$[8B3$

$ $ _g&V1O$ai$

#6,!45225@".;E!F%2!D.C"0.5!>!Q0!&"1,.0Ef!@1"++,.!)>!'90),2E!"9!0.!,B0*K2,!54!0.!

".=,.+,-!2,;,.-!@6,1,!+6,!+6,*,!54!0!)51-,120.-!09!0!9K0C,!54!K5@,1!,*,1;,9G!

! U_U!

!

'90),2!.0110+,9!+60+!025.;!+6,!)51-,1!54!0!1"=,1E!0.!52-!*0.!@02M,-!0"*2,992>P!!

&0-E!65K,2,99E!6,!@02M,-!5.!20.-!+55!-1>!+5!;"=,!455-P!![.!5.,!54!6"9!@02M9E!0!

),0(+"4(2!*,1*0"-!0KK,01,-!),451,!6"*P!!F:5!.5+!4,01!*,fE!+6,!*,1*0"-!+,229!+6,!52-!

*0.P!!F'!M.5@!@6>!>5(!01,!9C01,-fP!&6,!+,229!6"*!.5+!+5!),!9C01,-E!96,!@"22!;"=,!6"*!

*0.>!4"96E!(.-,1!5.,!C5.-"+"5.G!+6,!+0"2!51!K,."9!54!+6,!4"96!*(9+!),!;"=,.!+5!+6,!95.P!!

#6,!52-!*0.!09M9!@6>i!&6,!90"-!95!+60+!6,!C0.!;15@!+022!0.-!409+!95!+60+!96,!C0.!

*0."4,9+!6,1!25=,!451!6"*P!!D.-!95E!@6,.!6,!;1,@E!96,!+55M!6"*E!0.-!+6,!52-!*0.!@09!

2,4+!=,1>!90-P!!J,C0(9,!54!6"9!90-.,99E!6,!+6,.!2"=,-!=,1>!4,@!-0>9P!

#6,!*,1*0"-!-5,9!.5+!2,0=,!6,1!1"=,1P!!&6,!-5*".0+,9!6,1!25=,1!)>!

*0."K(20+"5.E!)>!C(..".;.,99P!!&6,!;0".9!0;,.C>E!0.-!-5,9!.5+!4022!".+5!+6,!

! U_V!

C0+,;51",9!54!@5*0.P!!?5+!.,C,9901"2>!0!F;55-f!C6010C+,1E!+6,1,!"9!.5!*0.E!.5!

;1,0+,1!K5@,1E!.5!.0+(102!@512-!51-,1!+60+!K(."96,9!6,1P!!&6,!2"=,9!60KK"2>!,=,1!

04+,1E!),C0(9,!96,!90>9!95P!

'.!0.5+6,1!".=,.+,-!2,;,.-E!FQ0!&"1,.0!>!,2!/1".C"K,f!D.+5.",+0!.0110+,9!+6,!

2,;,.-!54!0!>5(.;!),0(+"4(2!*,1*0"-!@65!2"=,-!".!+6,!5C,0.!5.!0!15CMP!![.!20.-E!

+6,1,!@09!0!>5(.;!*0.!@65!@5(2-!@02M!0;0".9+!+6,!,-;,!54!+6,!5C,0.!,=,1>-0>!@"+6!

6"9!-5;P!!$"9!-5;!9*,22,-!+6,!*,1*0"-E!0.-!451!-0>9E!6,!+6,!>5(.;!*0.!9,01C6,-!451!

6,1P!![.,!-0>E!6,!4,22!".+5!+6,!5C,0.E!0.-!@6,.!96,!C0(;6+!6"*E!96,!F+1",-!6"*fP!!

H6,.!6,!0@5M,E!6,!@09!(.-,1@0+,1E!0.-!60-!.5+!C65"C,!)(+!+5!*011>!6,1E!@6,1,!6,!

),C0*,!0!*,1*0"-!0.-!+6,>!2"=,-!60KK"2>!,=,1!04+,1P!!

$

4,5["50*.6,$

'.!0!9,.9,E!+6,!2,;,.-9!0.-!*>+69!+60+!+6,>!@15+,!0.-!+6,!9+51",9!+60+!+6,>!

+,22!01,!0)5(+!@65!+6,>!+6".M!+6,>!01,P!!#6,>!(.-,1;5!+10.9451*0+"5.9!09!+6,"1!

C6010C+,19!(.-,1;5!+10.9451*0+"5.9P!!D9!6(*0.9E!@,!".=,.+!C6010C+,19E!@,!C022!"+!

4"C+"5.E!+5!C1,0+,!0!9K0C,!".!@6"C6!@,!*0>!+02M!0)5(+!5(1!2"=,9E!9K,0M!54!+6".;9!

(.9K,0M0)2,E!0.-!)1".;!+5!+,B+(02!2"4,!+60+!@6"C6!@,!60=,!.,=,1!9601,-P!!'.!+6"9!

K51+"5.!54!+6,!0C+"="+>E!*51,!+60.!".!0.>!5+6,1E!'E!0.-!@,E!@,1,!@"+.,99,9!.5+!5.2>!+5!

@60+!+6,!+,B+!C0.!90>E!)(+!@60+!"+!C0.!-5P!!#6,1,!@09!+6,!@1"+".;E!0.-!+6,1,!@09!+6,!

Q,5["50*.6,!54!@1"+".;P!!#6,!@1"+".;!0.-!9601".;!54!9+51",9!C1,0+,-!0!9,.9,!54!

C0*010-,1",!".!+6"9!9*022!155*!54!+".>!-,9M9!0.-!)(1",-!)55M9E!54!-5.0+,-!

C5*K(+,19!+60+!-5.h+!@51ME!0.-!0!9*022!+,2,="9"5.!+60+!@,!9"+!".!415.+!54!,=,1>!.";6+!

0+!ZK*!+5!@0+C6!FD2!35.-5!$0>!&"+"5fE!0!950K!5K,10!0)5(+!C2099!-"44,1,.C,9!".!Q"*0P!!

! U_X!

'+!;0=,!+6,!;"129!0!C60.C,!+5!4"C+"5.02"L,!@60+!+6,>!01,!0+!+"*,9!+55!96>!+5!C5.4,99P!!'.!

0!@0>E!+6,!@1"+".;!54!+6,9,!2,;,.-9E!@"2-!0.-!"*0;".0+"=,E!),C0*,!C5.4,99"5.02!0.-!

9,24N1,=,02".;!+,B+9E!@6,1,!+6,!;"129!.5+!5.2>!60-!+6,!C60.C,!+5!9601,!+6,"1!2"4,!9+51",9!

+5!+6,!;"129!@65!60=,!;15@.!0.-!@"22!;15@!(K!025.;9"-,!+6,*E!)(+!+5!9601,!+6,"1!2"4,!

9+51",9!+5!(P,0',8+,']!!

$5@!01,!+6,9,!".=,.+,-!2,;,.-9!*"11519!54!+6,"1!2"=,9i!!$5@!01,!+6,>!

*,+0K6519!54!+6,"1!5@.!,K"C!d5(1.,>9i!!$5@!01,!+6,>!4"C+"5.02"L,-!0CC5(.+9!54!+6,"1!

5@.!9+1(;;2,9E!+6,"1!5@.!9,24N1,=,20+"5.i!!!$5@!-5!+6,>!C011>!+6,"1!5@.!9+51",9!2"M,!

F+(1+2,9!C011>!+6,"1!65*,9fi!SA510TP!!'.!+6,!-,=,25K*,.+!54!+6,9,!+61,,!C,.+102!

+6,*,9E!+6,1,!01,!5+6,1!+6".;9!+60+!".+,19,C+P!!A0".2>E!+6,!1"C6!@51-2,99!2"4,!54!+6,!

0C+(02!@1"+".;!54!+6,!0C+"="+>E!+6,!@0>!+6,>!C5.9+1(C+!+6,!C5.=,.+E!+6,*9,2=,9E!0.-!

+6,!@0>!+6,>!1,=,02!+6"9!0C+"="+>!09!+6,!".+,19,C+"5.!54!".-";,.5(9!0.-!*5-,1.E!

4"C+"5.!0.-!+1(+6P!

D2+65(;6!'!-5!.5+!9,,!+6,"1!@1"+".;!09!9+1"C+!452M251,E!'!0;1,,!@"+6!7"C601-!

J0(*0.!+60+!452M251,!0.-!5102!2"+,10+(1,!"9!155+,-!".!95C"02!,=,.+9E!0.-!+60+!"+!"9!".!

40C+!0!95C"02!K15C,99!SUZ\^TP!!H60+!+6"9!*,0.9!"9!+60+E!09!'!9+0+,-!K1,="5(92>E!,8(022>!

"*K51+0.+!09!+6,!+,B+!K15-(C,-E!"9!+6,!+,B+!015(.-!+6,!0C+(02!,=,.+P!!'.!5+6,1!@51-9E!

"+!"9!"*K51+0.+!+5!255M!0+!+6,!K20C,!0.-!,=,.+!54!.0110+"5.!09!K01+!54!+6,!95C"02!

K15C,99!54!+,B+NC1,0+"5.P!!#6,1,!"9!+6,!@1"+".;!"+9,24E!0.-!+6,!,=,.+!54!+6,!@1"+".;G!+6,!

K5,+1>!54!+6,!+@5!65(19!"+!+55M!+5!@1"+,!+6"9R!+6,!1"C6!@51-2,99!9+51>!".!+6,!95(.-!54!

K,.C"29E!+6,!95(.-!54!,109".;E!+6,!*,+"C(25(9.,99!54!;"129h!@1"+".;E!+6,!95(.-!54!

20(;6+,1E!54!41(9+10+"5.E!54!60.-9!2"4+".;!+5!+6,!K0;,!+5!6"-,!+6,!9+51>N".NK15C,99!415*!

+6,!@0.-,1".;!,>,9!54!5+6,1!;"129E!0.-!*>!5@.P!!#6,1,!"9!K5,+1>!".!+6,!,=,.+E!".!+6,!

! U_W!

9C,.,E!0.-!".!+6,!95(.-9P!!#6,1,!"9!0!1"C6!@51-2,99!9+51>!".!+6,!K,1451*0.C,!54!

@1"+".;P!

#6,!0C+(02!K15C,99!54!@1"+".;!+6,9,!2,;,.-9!0C+,-!09!0!=,6"C2,!451!0!

C1599150-9E!@6,1,!+6,!".-"="-(02!0.-!95C"02!C5*,!+5;,+6,1G!".!C1,0+".;!0!9+51>!0)5(+!

+6,*9,2=,9E!+6,>!01,!0295!+,22".;!0!95C"02!9+51>R!-,*0.-".;!+60+!@,!C5.9"-,1!0!.,@!

95C"02!8(,9+"5.P!!'.!C5.9"-,1".;!@60+!+6,>!+,B+!.5+!5.2>!90"-E!)(+!@60+!"+!-"-R!+6,1,!"9!

0295!0!1,20+"5.96"K!,BC60.;,G!'!;0=,!+6,*!0!C60.C,!+5!@1"+,!C1,0+"=,2>E!0.-!+6,>!

+0(;6+!*,!0)5(+!+6,"1!2,;,.-9P!A59+!54!022E!+6,1,!"9!0!1"C6!0.-!-,+0"2,-!K,1451*0.C,!

".!+6,!0C+(022>!@1"+".;!54!+6,9,!2,;,.-9E!0.-!,9K,C"022>!".!+6,!K,1451*".;P!!H6"2,!+6,>!

@15+,!+6,"1!2,;,.-9E!*59+!C5=,1,-!+6,"1!.5+,)55M9E!,=,.!+65(;6!+6,>!M.,@!+60+!"+!

@5(2-!),!9601,-!20+,1!+60+!.";6+P!!

H6,.!"+!C0*,!+"*,!+5!1,0-".;!+6,"1!2,;,.-9E!+6,>!@5(2-!;,+!=,1>!.,1=5(9P!!

A59+!54!+6,!+"*,!@09!9K,.+!;";;2".;E!6"-".;!),6".-!-5519E!451*".;!9*022,1!;15(K9!54!

;"129!015(.-!+6,!.,B+!1,0-,1E!@659,!d5)!"+!@09!+5!955+6,!+6"9!1,0-,1!5(+!54!6,1!

.,1=5(9.,99PN!#6,>!;";;2,E!+6,>!+0M,!-,,K!)1,0+69E!+6,>!1(.!+5!0.5+6,1!C51.,1!54!+6,!

C5.=,.+!0.-!C022!95*,!54!+6,!5+6,1!;"129!+5!C5*,!1,0-!"+!0.-!+,22!+6,*!"+!"9!5M0>P!!!

#6,1,!"9!+6,!K,1451*0.C,!015(.-!0C+(022>!;,++".;!+5!1,0-!"+E!0.-!+6,.!+6,1,!"9!

0.5+6,1!,2,*,.+!54!K,1451*0.C,!".!+6,!K1,K010+"5.!54!+6,!,=,.+!54!1,0-".;!"+P!!#6,>!

@0.+,-!+6,!0C+(02!9601".;!54!+6,9,!2,;,.-9!+5!),!451*02P!!#6,>!@0.+,-!"+!+5!),!".!+6,!

)";;,9+!9K0C,!54!+6,!C5.=,.+G!+6,!-".".;!155*E!@6,1,!@,!*(9+!*5=,!+6,!+0)2,9!+5!+6,!

5(+,1*59+!@0229E!0.-!+,*K5101"2>!1,*5=,!+6,!201;,!9+0+(,!54!&+P!310.C"9!415*!0!

9*022,1!+0)2,E!95!+60+!"+!-5,9!.5+!;,+!M.5CM,-!-5@.!0.-!960++,1!-(1".;!+6,!-0.C,!

K01+>!+60+!@"22!02@0>9!+0M,!K20C,!04+,1!+6,"1!451*02!K,1451*0.C,9P!!#6,>!1,8(,9+,-!

! U_Y!

'.C0!O520E!O5C0!O520E!K5KC51.E!0.-!C0.->P!!#6,>!45(;6+!5=,1!@65!;5+!+5!0CC5*K0.>!

*,!+5!+6,!*01M,+!+5!C011>!+6,!2"+,19!54!C5M,!0.-!'.C0!O520R!),C0(9,!+6"9!K15="-,-!5.,!

54!+6,!5.2>!C60.C,9!+5!2,0=,!+6,!C5.=,.+!@0229!S),9"-,9!@02M".;!+6,!*"2,!+5!9C6552E!

)(+!9C65529!@,1,!5.!9+1"M,!9+01+".;!+60+!-0>!0.-!@5(2-!209+!(.+"2!5.,!@652,!*5.+6!

20+,1E!95!+6"9!@09!1,022>!+6,"1!5.2>!C60.C,TP!

#6,.!+6,1,!"9!0295!+6,!,2,*,.+!54!9+51>+,22".;!0*5.;!;"129E!0!+09M!.,"+6,1!

1,2,;0+,-!+5!;"129E!.51!K1,9,.+!0*5.;!;"129P!!#6,1,!"9!0295!+6,!K,1451*0.C,!@"+6".!+6,!

"."+"02!,BC60.;,!'!*,.+"5.,-!),451,P!!#6,>!5K,.,-!*>!*".-!0)5(+!@60+!K5,+1>!C5(2-!

),R!0)5(+!@60+!"+!C5(2-!-5R!0)5(+!@60+!"+!C5(2-!255M!2"M,P!!/5,+1>!@09!Ae!@0>!54!

)("2-".;!*>!5@.![,01.1'($*56P1(,6(&5,E!0.-!'!C5(2-!9601,!"+E!@"+6!".+"*0C>!0.-!

;,.(".,99E!0.-!K099"5.q)(+!@60+!@09!#$%'7!@0>i!!#6"9!),C0*,!+6,"1!40=51"+,!

0C+"="+>E!>,+!"+!@09!+6,!5.,!'!60-!),,.!*59+!6,9"+0.+!54P!!'+!+0(;6+!*,!+5!2"9+,.!+5!

+6,*P!!/01+!54!+6,!1,095.!"+!@09!+6,"1!40=51"+,!0C+"="+>!"9!+60+!+6,>!;5+!+5!K(22!415*!

+6,"1!5102!C(2+(1,9!".+5!0!*5-,1.!410*,@51MP!

#6,9,!".=,.+,-!2,;,.-9!;"=,!=5"C,!+5!0!4,*".".,!0.-!4,*"."9+!"-,.+"+>E!)(+!

0295!+5!0!4,*".".,!0.-!4,*"."9+!,BK,1",.C,P!!&0.+59!9K,0M9!+5!+6,!F".6,1,.+!9+1(;;2,!

451!+6,!K5@,1!54!,BK1,99"5.f!".!+6,!1,C5=,1>!54!4,*"."9+!+,B+9!)>!@5*,.!@1"+,19P!!

&6,!0295!90>9!+60+!+6,!(."=,1902!C(2+(102!C5.+,B+!S9K,C"4"C022>!".!Q0+".!D*,1"C0T!

1,8("1,9!@5*,.!+5!60=,!=,1>!9"2,.+!152,9E!0.-!+60+!2"+,10+(1,!C0.!),!0!*,-"(*!

+615(;6!@6"C6!@5*,.!4".-!F0(+6,.+"C!9,24N,BK1,99"5.f!S_TP!!D+!+6,!90*,!+"*,!+60+!

+6,1,!"9!0!->.0*"C!0.-!1"C6!Q0+".!D*,1"C0.!2"+,101>!+10-"+"5.!+60+!+6,9,!;"129h!

@1"+".;9!4022!@"+6".E!"+!0295!40229!@"+6".!+6,!9"2,.C,-!0.-!9()d(;0+,-!C5.+,B+!54!

! U_^!

@5*,.!@"+6".!+60+!+10-"+"5.P!!&0.+59!90>9!+60+!@5*,.!1,C5=,1!0.-!@1"+,!+6,"1!9,.9,!

54!0.!0(+6,.+"C!&,24!F@"+6".!0!95C"02!C5.+,B+!+60+!,BK,C+9!9,242,99!4,*02,!9()d,C+9f!S\TP!

&0.+59!9K,0M9!+5!+6,!K5@,1!54!+6,!+,B+!".!,BK251".;!4,*02,!"-,.+"+>G!

FQ0.;(0;,!"9!+6,!C5.9+1(C+!+615(;6!@6"C6!.0110+"="+>!"9!0++0".,-!0.-!"+!"9!0295!+6,!

*,+65-!)>!@6"C6!1,02"+>!"9!K15-(C,-P!!A51,!"*K51+0.+2>!20.;(0;,!"9!.5+!5.2>!+6,!

*,-"(*!+615(;6!@6"C6!".-"="-(029!,9+0)2"96,-!+6,*9,2=,9!09!9()d,C+9E!)(+!0295!+6,!

)09"9!5.!@6"C6!1,02"+>!"9!45(.-,-P!!#6(9E!+615(;6!20.;(0;,!+6,9,!9()d,C+9!9,01C6!+5!

,9+0)2"96!+6,*9,2=,9!".!+6,"1!5@.!1,02"+>f!SUVTP!!H6"2,!+6"9!8(5+,!"9!0!=02"-!0.-!

K5@,14(2!9+0+,*,.+E!"+!(.-,1*".,9!+6,!152,!54!".+,.+"5.02!4"C+"5.P!!'+!(.-,1*".,9!+6,!

1.(,.(!+5!4"C+"5.02"L,E!0.-!+6,!1"C6!K15C,99!"+!1,8("1,9P!!!

!

$

$

hQ16$8"+,$'("5BI',#&6(1".E![,01.1'($5,+1'1".]!

R.,$6*.."($#1'6"&.($(P*(O$P1'("516*88BO$0,.Y'$,VQ,51,.6,$P*'$'(""#$*'$(P,$

0,*'&51.;$'(162$["5$*88$P&0*.$,VQ,51,.6,$

$ $ $ $ _951'(1.*$=*.("'$

&0.+59!C20"*9!+60+!0.!0(+6,.+"C!4,*".".,!9,.9,!54!9,24!"9!@6,.!0!K15+0;5."9+!

1,C5=,19!0!9,.9,!+60+!"9!.5+!451,";.!+5!6,19,24P!!'.!5+6,1!@51-9E!96,!90>9!+60+!

6"9+51"C022>E!@5*,.N".!2"+,10+(1,!0.-!5(+9"-,!54!2"+,10+(1,N!-"90995C"0+,!415*!+6,"1!

5@.!9,24E!+6,"1!5@.!,BK1,99"5.E!0.-!+6,"1!5@.!,BK,1",.C,P!!!

A01(E!UYE!@15+,!FQ0!7590!75d0Ef!@6,1,!96,!.0110+,9!+60+!0!40*"2>!2"=,-!".!0.!

0.C",.+!;01-,.P!J,C0(9,!54!@51ME!+6,!40*"2>!60-!+5!*5=,!401!0@0>E!@6,1,!+6,>!

! U__!

@51M,-!5=,1!+6,!>,019P!![.,!-0>E!+6,>!-,C"-,-!+5!1,+(1.!+5!+6,!0.C",.+!65(9,!@"+6!

+6,!0.C",.+!;01-,.P!!H6,.!+6,>!1,+(1.,-E!+6,!;01-,.!@09!6(;,!@"+6!@,,-9!0.-!+022E!

),C0(9,!.5!5.,!60-!C2,0.,-!51!M,K+!"+P!!#6,>!-,C"-,-!+5!-5!+60+!4"B!+6,!;01-,.!0.-!+5!

1,9+51,!+6,!@0>!"+!60-!),,.P!!:(1".;!+6"9!+"*,E!+6,!-0(;6+,1!45(.-!0!),0(+"4(2!1,-!

159,!".!+6,!*"--2,!54!+6,!;01-,.P!!&".C,!+60+!-0>E!6,1!40*"2>!C022,-!6,1!+6,!1,-!159,E!20!

7590!75d0P!!#6,!*5102!54!6,1!9+51>!"9!+60+!+6,!;"12!;1,@!(K!=,1>!60KK>E!(9".;!+6,!.,@!

.0*,!6,1!K01,.+9!;0=,!6,1P!

'.!d@*$9*(*\*$n*5?D8$#,$8*$',8+*o3$?B$%*58,.,O$UWE!96,!.0110+,9!+6,!9+51>!54!0!

="220;,!+60+!"9!->".;!5(+!-,!+5!0.!,K"-,*"CP!!30*"2",9!01,!2,0=".;!+6,!="220;,9!0.-!

*";10+".;!+5!5+6,1!K20C,9P!![.,!K01+"C(201!40*"2>!451;,+9!+6,"1!-0(;6+,1!0+!65*,E!

2,0=".;!+6"9!0)0.-5.,-!-0(;6+,1!@6"2,!092,,KP!!H6,.!+6,!0)0.-5.,-!-0(;6+,1!

@0M,9!(KE!96,!),;".9!+5!C1>P!!O1>".;!0.-!25.,2>E!96,!;10)9!0!*0C6,+,!0.-!=,.+(1,9!

".+5!+6,!d(.;2,!+5!C(+!+6,!2,0=,9!544!+6,!O0+0@0E!0.!D*0L5."0.!+1,,P!&6,!C522,C+,-!+6,!

2,0=,9E!C55M,-!+6,*!0.-!-10.M!+6,*E!04+,1!@6"C6!96,!40".+,-P!!H6,.!96,!0@5M,!96,!

),C0*,!0!),0(+"4(2!)"1-!.0*,-!&60.965P!

!

#60+!"9!@6>E!96,!90>9E!@6,.!K,5K2,!415*!+6,!d(.;2,!01,!90-E!+6,>!M"22!&60.9659!0.-!

,0+!+6,*E!0.-!+6"9!1,9+51,9!+6,"1!60KK".,99!0.-!9+1,.;+6P!

#6"9!9+51>!".=52=,9!,2,*,.+9!54!)5+6!0!2"4,!6"9+51>!54!C5.C,K+(02"L,9!6,1!

,BK,1",.C,!54!+6,!C5.=,.+!09!0)0.-5.*,.+E!09!@,22!09!+6,!+10-"+"5.02!6,02".;!K5@,1!

! U_\!

54!K20.+9E!0.-!+10.9C,.-,.C,G!54!),C5*".;!0!90C1"4"C"02!*>+6"C02!)"1-P!!&6,E!65@,=,1E!

2"=,9!5.E!),C0(9,!02+65(;6!+6,!*5102!;5,9!+60+!+6,9,!)"1-9!*(9+!),!M"22,-E!K20C".;!"+!

".!*>+6!*0M,9!"+!"**51+02P!!&6,!"9!.5+!5.,!)"1-R!96,!"9!*0.>P$

d<*(1_X*6&3$?B$G"6U"$

!

!75Cj5E!U\E!.0110+,9!+6,!2,;,.-!0)5(+!0!),0(+"4(2!@5*0.!

.0*,-!#0+"Ne0C(E!@65!9,-(C,9!0.>5.,!@65!C1599,9!6,1!K0+6P!!&6,!9(.)0+6,9!,=,1>!

-0>!95!+60+!>5(.;!*,.!*0>!.5+"C,!6,1E!)(+!96,!5.2>!0225@9!6024!6,1!)5->!+5!),!9,,.P!!

[.,!-0>E!96,!40229!".!25=,!@"+6!0!>5(.;!*0.E!0.-!".="+,9!6"*!+5!6,1!65*,!(.-,1!

@0+,1P!!$,!-,C2".,9!+6,!4"19+!+"*,P!#6,.E!,=,1>!-0>!04+,1!WK*!451!+61,,!*5.+69!+6,>!

*,,+!0+!6,1!K20C,P!!$,!@0.+9!+5!*011>!6,1E!)(+!96,!90>9!.5E!6,1!65*,!"9!(.-,1!@0+,1E!

0.-!6"9!"9!20.-P!!&6,!K15K59,9!6,!2"=,!(.-,1!@0+,1!95!+60+!6,1!40*"2>!C0.!),!K1,9,.+!

@6,.!+6,>!*011>P!!&5*,!+"*,!K099,9!0.-!+6,>!;,+!*011",-P!!#6,!)5>!.,=,1!1,+(1.9!+5!

-1>!20.-P!

! U_Z!

#6,!*5102!54!+6,!2,;,.-!"9!+60+!@5*,.!2"M,!#0+"Ne0C(!@65!2"=,!".!+6,!1"=,1!01,!

9,-(C+1,99,9P!H"+6!6(;,!K5@,19!0.-!@"+6!;1,0+!,09,!+6,>!0C6",=,!@60+!+6,>!9,+!5(+!

+5!0C6",=,P! !

H60+!"9!0+!+6,!6,01+!54!+6,"1!@1"+".;i!!'9!"+!+6,!,BK1,99"5.!54!4,*"."."+>i!!'9!"+!

0)5(+!0!4,*"."9+!1,="9"5.!54!+6,!@512-i!!A>!51";".02!".+,.+!451!099";.".;!+6"9!0C+"="+>!

@09!9"*K2>!+60+G!'!@0.+,-!+6,!;"129!+5!60=,!0.!5KK51+(."+>!+5!C1,0+,!0!4,*"."9+!

1,="9"5.!54!6"9+51>E!0.-!'!C659,!+6,!2,;,.-!451*!),C0(9,!+60+!"9!0!+10-"+"5.!+6,>!01,!

40*"2"01!@"+6P!!H60+!'!45(.-!".!+6,!+@5!65(19!+60+!+6"9!0C+"="+>!+55ME!65@,=,1E!@09!

+60+!+6"9!"9!),>5.-!F1,="9"5.fP!!

! #6,!2,;,.-!54!#0+"Ne0C(!1,K,0+9!"*0;,1>!45(.-!".!*0.>!54!+6,!".=,.+,-!

2,;,.-9G!@5*,.!@65!2"=,!(.-,1!@0+,1!0.-!@65!9,-(C,!*,.!+5!2,0=,!+6,"1!65*,9!

0.-!;,5;10K6",9!0.-!,.+,1!+6,"19P!!#6,1,!"9!0.!,2,*,.+!54!-,C,K+"5.!".!+6"9!2,;,.-!

+55E!),C0(9,!6024!54!6,1!)5->!"9!02@0>9!6"--,.P!!'!@0.+!+5!9+1,99!+6,!"*K51+0.C,!54!

4,*"."."+>!+60+!+6,!".=,.+"5.!54!4,*02,!K15+0;5."9+9!S,9K,C"022>!".!+6"9!2,;,.-T!

,BK1,99,9P!!75Cj5!C5.4,99,-!+5!*,!+60+!96,!4,,29!K1,99(1,!+5!4".-!0!d5)!51!;5!)0CM!

65*,!04+,1!96,!;10-(0+,9!6";6!9C6552!+6"9!>,01E!)(+!+60+!96,!609!0!;1,0+!9,C1,+!

)("2-".;!".9"-,P!!'!09M,-!6,1!@60+!+60+!@09E!0.-!96,!2,-!*,!+5!+6,!)0CM!54!+6,!

C5.=,.+E!0@0>!415*!+6,!C(1"5(9!,019!54!5+6,1!;"129!0.-!.(.9P!!Q55M".;!015(.-!+5!

! U\c!

*0M,!9(1,!+60+!.5!5.,!@09!2"9+,.".;E!96,!@6"9K,1,-!".!*>!,01!+60+!6,1!)";;,9+!9,C1,+!

@09!+60+!96,!@0.+,-!+5!),C5*,!0!.(.P!

! D2+65(;6!".!6,1!2,;,.-!96,!,BK1,99,9!0!-,9"1,!+5!9,-(C,E!+5!*011>!0.-!+5!

,BK251,!6,1!9,B(02"+>E!+6,1,!01,!+@5!.0110+"=,9!;5".;!5.G!4"19+E!+6,9,!-,9"1,9!

,BK1,99,-!01,!.,"+6,1!401!.51!5KK59".;!+5!65@!+6,9,!;"129!=",@!I5-!51!+6,!C5.=,.+E!

0.-!9,C5.-E!+6"9!9,C1,+!@6"C6!96,!C20"*9!"9!)("2-".;!".9"-,!54!6,1E!"9!,BK1,99,-!

+615(;6!+6,!*5102!54!6,1!9+51>G!+60+!@5*,.!2"M,!#0+"Ne0C(!@"22!0C6",=,!@60+!+6,>!

@0.+!09!25.;!09!+6,>!9,+!+6,"1!*".-!+5!"+P!!I5".;!)0CM!+5!+6,51"9+!O1"9+".0!&0.+59E!96,!

90>9G!FD9!25.;!09!@,!60=,!+6,!C0K0C"+>!+5!,.;0;,!".!-"025;(,!@,!60=,!+6,!K5+,.+"02!

451!-"9C5=,1>!54!95*,+6".;!.,@E!0.-!09!25.;!09!+6,!2"+,101>!+,B+!K15=5M,9!+6,!1,0-,1!

+5!9(1K099!+6,!9,*0.+"C!"*K,1+".,.C,!54!-"9C5(19,!@,!C0.!"*0;".,!@60+!@09!),451,!

(."*0;".0)2,fSUVTP!!!

! H60+!+6,"1!@51M!0.-!+6"9!"-,0!9K,0M!+5E!"9!+6,!5K,.N*".-,-.,99!54!+,B+!+60+!

J,601!,BK1,99,9P!#6,!'.=,.+,-!2,;,.-!0C+"="+>!5K,.9!(K!.,@!@0>9!54!

C5.C,K+(02"L".;!+6,"1!2"4,!6"9+51>E!)(+!"+!-5,9!*51,!+60.!+60+P!!#6,!-,C5.9+1(C+"5.!54!

@60+!0(+5)"5;10K6>!C5(2-!255M!2"M,!"9!.5!25.;,1!,BC"+".;!.51!"..5=0+"=,E!),C0(9,!"+!

609!021,0->!),,.!-5.,P!!#6,!@0=,!54!-,C5.9+1(C+"5.!609!K09+E!0.-!+6,1,!"9!.5+6".;!'!

C5(2-!C5.+1")(+,!+5!"+E!,BC,K+!+5!+0M,!"+!+5!0.5+6,1!2,=,2G!+5!01;(,!+60+!+60+!+6,"1!

K01+"C(201!2"4,!6"9+51",9!9K,0M!+5!.,@!C5.C,K+9!54!2"),10+"5.P!!#6,>!9K,0M!+5!4,*02,!

2"),10+"5.!0.-!+6,>!9K,0M!+5!+6,!9K0C,9!0.-!K20C,9!@6,1,!4,*02,!2"),10+"5.!+0M,9!

K20C,P!

! U\U!

Chapter 8 / Capítulo 8

“¡Que Verguenza!”

Menstruation and puberty in the convent

! U\V!

F`a(,!7,5;&,.M*N3$A,.9+1(0+"5.!0.-!K(),1+>!".!+6,!C5.=,.+!

!

%=,.!".!0!155*!4(22!54!;"129E!+6,!+5K"C!54!K,1"5-9!9+"22!)1".;9!5.!20(;6+,1E!

,*)011099*,.+!0.-!96>.,99P!!A0.(,20!90>9!+60+!@6,.!96,!;,+9!6,1!K,1"5-E!+60+!"9!

@6,.!96,!-5,9.h+!2"M,!),".;!0!@5*0.R!96,!-5,9.h+!M.5@!@6>!I5-!*0-,!@5*,.!60=,!

K,1"5-9!0.-!.5+!*,.P!!!

J,C0(9,!54!+6,!>5(.;!0;,!+60+!+6,>!2,0=,!65*,E!*,.9+1(0+"5.!0.-!;,++".;!

+6,"1!K,1"5-!451!+6,!4"19+!+"*,!"9!9,@.!".+5!+6,!K15C,99!54!C5*".;!54!0;,!".!+6,!

C5.=,.+P!!351!+6"9!0C+"="+>E!'!@0.+,-!+6,*!+5!1,C022!+6,!,B0C+!*5*,.+!54!+6"9!2"++2,!

+02M,-N0)5(+!>,+!".+"*0+,2>!*5.(*,.+02!,=,.+P!!'!09M,-!+6,*!+5!-,9C1"),!+6,!4"19+!

+"*,!+6,>!;5+!+6,"1!K,1"5-!+615(;6!0!.0110+"=,!+60+!45C(9,-!5.!+6,!,=,.+!"+9,24E!09!

@,22!+615(;6!0.!"22(9+10+"5.!54!+6,"1!4"19+!+"*,P!!'!@09!6,9"+0.+!+5!09M!+6,*!451!0.!

"22(9+10+"5.E!+6".M".;!K,160K9!"+!@5(2-!C0(9,!C5.4(9"5.!0.-!.5!5.,!@5(2-!-5!"+E!)(+!'!

@09!C5*K2,+,2>!@15.;P!!A59+!@,1,!8("CM!+5!-10@!),451,!@1"+".;E!0--".;!".!-,+0"29E!

K20C,!0.-!,BK1,99"5.P!!D22!54!+6,!;"129!4"19+!;5+!+6,"1!K,1"5-!04+,1!+6,>!60-!021,0->!

*5=,-!+5!+6,!P";*5O$>,+!+6,1,!@09!0!*"B!54!.0110+"=,9!0)5(+!4"19+!;,++".;!"+!".!+6,"1!

C2099155*9!0+!9C6552E!5.!0!="9"+!65*,E!51!".!+6,!C5.=,.+P!!?5!*0++,1!@6,1,!+6,!K20C,E!

65@,=,1E!022!95*,65@!2,0-!+5!65@!+6,!C5.=,.+!4(.C+"5.9!".!+6,"1!+10.9"+"5.!415*!

;"12655-!+5!@5*0.655-E!415*!C6"2-655-!+5!0-(2+655-E!0.-!415*!40*"2>!2"4,!+5!

".-,K,.-,.C,P!!!J,25@E!+6,>!1,=,02!4(..>!K51+10"+9!54!+6,!+,.9"5.9E!*5*,.+9!0.-!

C5*K2,B"+",9!54!C5*".;!54!0;,!".!+6"9!C5.=,.+P!

A,.9+1(0+"5.!609!02@0>9!K20>,-!0.!"*K51+0.+!152,!".!C5*".;!54!0;,!9+51",9!

451!;"129R!95!'!@0.+,-!+6,*!+5!;,+!0!C60.C,!+5!@1"+,!0)5(+!+6,"19P!!#6,"1!.0110+"=,9!54!

! U\X!

;,++".;!+6,"1!K,1"5-9!1,=,02!0.!".+"*0+,!K51+10"+!54!C5*".;!54!0;,!@"+6".!+6,!

C5.=,.+h9!@0229E!09!@,22!09!65@!+6,>!1,=,02!+6,!)51-,120.-!),+@,,.!;"12655-!0.-!

@5*0.655-P!!#6,"1!@1"+".;!1,=,029!.5+!5.2>!+6,"1!+65(;6+9!5.!@60+!"+!*,0.9!+5!

),C5*,!0!@5*0.E!)(+!0295E!".!95*,!C09,9E!+6,"1!=",@9!5.!(.-,1;5".;!+6"9!".+"*0+,!

,BK,1",.C,!@6,.!+6,>!01,!0@0>!415*!65*,P!

#6,"1!*,.9+1(0+"5.!.0110+"=,9!01,!".+,1,9+".;!),C0(9,!*59+!;,+!+6,"1!K,1"5-!

04+,1!011"=".;!0+!+6,!C5.=,.+P!!#6,!C5.=,.+E!+6,1,451,E!K20>9!0!)";!152,!".!65@!+6,>!

K,1C,"=,!*,.9+1(0+"5.!@"+6".!+6,"1!5@.!C5*".;!54!0;,P!!H6,+6,1!+6,>!4"19+!;5+!"+!".!

9C6552N0!K20C,!@6,1,!+6,>!60=,!021,0->!4,2+!"9520+,-R!@6,+6,1!+6,>!;5+!"+!0+!+6,!

C5.=,.+!0.-!60-!+5!+,22!+6,!.(.9E!51!@6,+6,1!+6,>!;5+!"+!5.!0!101,!="9"+!)0CM!65*,!

0.-!60-!+5!+,22!+6,"1!40*"2",9R!+6,"1!+,22".;!54!+6"9!,=,.+!1,=,029!0.!".+"*0+,!K51+10"+!54!

65@!+6,>!=",@!+6,!+,.9"5.9E!6(*51E!C(2+(102!)5(.-01",9!54!C5*".;!54!0;,!415*!

9C6552E!65*,E!0.-!C5.=,.+P!!

!

A0.>!9+51",9!@,1,!=,1)022>!+52-!),451,!0.>!54!+6,!;"129!9+01+,-!@1"+".;E!2"M,!

](0.0!@65!90"-!+60+!96,!60-!02@0>9!6,01-!96,!@5(2-!;,+!"+!5.,!-0>P!!#6,!.(.9!

965@,-!6,1!+6,!K0.+1>!@6,1,!+6,!K0-9!@,1,!M,K+!451!@6,.!+6,!+"*,!C0*,P!!$5@,=,1E!

96,!-"-!.5+!;,+!"+!".!+6,!C5.=,.+E!)(+!-(1".;!0!@,,M!96,!+10=,22,-!65*,!+5!="9"+!0!9"CM!

40*"2>!*,*),1P!!&6,!,BK20".9!+60+!96,!4,2+!-"44,1,.+E!0!2"++2,!.0(9,5(9E!0.-!96,!M.,@!

+60+!96,!60-!;5++,.!6,1!K,1"5-P!!&6,!60-!.5+!9,,.!6,1!40*"2>!".!0!@6"2,E!0.-!@09!

,*)011099,-!+5!+,22!+6,*P!!D+!+60+!*5*,.+E!96,!@"96,-!96,!@,1,!)0CM!".!+6,!

C5.=,.+E!),C0(9,!+6,.!96,!@5(2-.h+!60=,!+5!+,22!0.>5.,R!96,!@5(2-!d(9+!M.5@!+60+!

+6,!K0-9!01,!".!+6,!K0.+1>P!!D.-!,=,.!"4!+6,!5+6,1!;"129!90@!6,1!;5!".!+6,1,E!96,!C5(2-!

! U\W!

02@0>9!d(9+!K1,+,.-!96,!@09!;,++".;!950KP!!J,25@!01,!+6,"1!*,.9+1(0+"5.!.0110+"=,9E!

-"="-,-!)>!+659,!@65!;5+!"+!".!9C6552E!+659,!@65!;5+!"+!0+!65*,E!0.-!+659,!@65!;5+!"+!

".!+6,!C5.=,.+P!

!

h.$,8$6"8,;1"j$

!

D.+5.",+0!-,9C1"),9!0!-0>!0+!9C6552!@6,.!96,!C5(2-!9,.9,!+60+!6,1!)5->!@09!

C60.;".;P!!&6,!90>9!5(+9"-,!@09!10".".;E!)(+!"+!@09!1,C,99!+"*,!95!022!+6,!9C6552!

C6"2-1,.!60-!+5!;5!5(+9"-,!+55P!![.,!54!6,1!41",.-9!@09!C022".;!6,1!.0*,E!),;;".;!6,1!

+5!6(11>!(K!0.-!@02M!5(+9"-,P!!3".022>E!D.+5.",+0!@02M,-!-5@.!+6,!9+,K9!".+5!+6,!

K20>;15(.-E!0.-!022!54!0!9(--,.!,=,1>5.,!@09!20(;6".;!0.-!K5".+".;!0+!6,1!),C0(9,!

96,!60-!0!)";!9+0".!5.!6,1!K0.+9P!!D+!+60+!*5*,.+E!96,!90>9E!96,!@"96,-!96,!C5(2-!

C10@2!".!0!652,!0.-!.,=,1!C5*,!5(+P!

!

$

'90),2!90>9!6,1!*59+!,*)011099".;!*5*,.+!@09!@6,.!96,!;5+!6,1!K,1"5-!".!

415.+!54!+6,!@652,!9C6552P!!&6,!60-!),,.!C659,.!09!6,1!C2099!1,K1,9,.+0+"=,!-(1".;!

+6,!452M!4,9+"=029!".!e(1"*0;(09E!451!@6"C6!96,!60-!+5!K1,K01,!0!.0+"=,!-0.C,!".!415.+!

54!+6,!@652,!9C6552P!!&6,!@09!021,0->!96>E!96,!90>9E!95!96,!-"-!.5+!@0.+!+5!;,+!(K!0.-!

-0.C,E!)(+!6,1!41",.-9!C5.=".C,-!6,1!+5!;,+!(KP!!D9!96,!9+55-!5.!+6,!9+0;,E!96,!

.5+"C,-!,=,1>5.,!@09!20(;6".;P!!#60+h9!@6,.!96,!1,02"L,-!96,!60-!;5++,.!6,1!K,1"5-P!!

$

! U\Y!

)"0,$

!

!!

!

!

!

Fsa(m!+",.,9E!Q5(1-,9i!!/518(,!.5!+10)0d09i!/518(,!,9+09!09j!)",.!09(9+0-0i!!:"*,E!

8(",15!90),1!8(,!K15)2,*09!+",.,9f!

Q5(1-,9!+,229!6,1!*5+6,1E!FA0*"E!K518(,!*,!)0d5!90.;1,!-,!*"!=0;".0fP!

$,1!*5+6,1!+,229!6,1!.5+!+5!@511>E!+60+!96,!;5+!6,1!K,1"5-P!!&6,!+55M!Q5(1-,9!".9"-,!

+5!K(+!0.!5".+*,.+!5.!"+E!0.-!+60+!"9!65@!"+!60KK,.,-P!

$

Q5(1-,9!+10=,22,-!)>!)50+!+5!6,1!

="220;,!+5!="9"+!6,1!40*"2>!0.-!+5!

6,2K!+6,*!5.!+6,!6P*65*P!!H6"2,!96,!

@09!@51M".;E!96,!4,2+!0.!(;2>!

9,.90+"5.P!

:"0.0!90>9!96,!255M,-!2"M,!0!;659+P!!

$,1!*5+6,1!09M,-!6,1G!!

! U\^!

$

$

$

$

$

$

G"6U"!.0110+,9!0!9+51>!0)5(+!65@!"+!"9!"*K51+0.+!+5!2"9+,.!+5!>5(1!*5+6,1G!

!

](0.0!90>9!96,!4"19+!;5+!6,1!K,1"5-!@6,.!

96,!@09!0+!65*,P!!&6,!@1"+,9!+60+!96,!@09!

9C01,-!0.-!-"-!.5+!@0.+!+5!+,22!6,1!*5+6,1P!!

F#,.j0!),1;(,.L0!K51!8(,!*,!K090-5!-,!

*"!402-0fP!!&6,!@1"+,9!+60+!96,!-"-!.5+!

M.5@!"+!60-!;5.,!+615(;6!6,1!9M"1+E!

),C0(9,!96,!-"-!.5+!M.5@!@60+!"+!@09!

(.+"2!"+!C5*K2,+,2>!@,.+!+615(;6P!!&6,!90>9!

96,!1,*,*),19!"+!),".;!95*,@60+!1,-P!!!

D+!9"B+,,.E!96,!.5!25.;,1!;,+9!

,*)011099,-G!Fe!06510!8(,!95>!;10.-,!*,!

-0!.51*02*,.+,!>!09"!.0-0fP!C"\$(P*($H$*0$

"8#,5O$1($6"0,'$.*(&5*88B$*.#$*'$1[$."(P1.;3$

! U\_!

!

!

! U\\!

!

O5.=,.+!

!

Q(L!

%2,.0!4"19+!;5+!6,1!K,1"5-!5.!0!="9"+!65*,!0!

4,@!>,019!04+,1!),".;!9,.+!+5!2"=,!@"+6!

*"99"5.01",9!".!0.5+6,1!+5@.P!!&6,!

1,*,*),19!+60+!96,!@09!".!6,1!155*!

@6,.!96,!4"19+!;5+!"+P!!$,1!*5+6,1!@02M,-!

".!+6,!6,1!155*!0.-!45(.-!)255-E!0.-!+6,.!

09M,-!6,1!"4!96,!;5+!6,1!K,1"5-P!!%2,.0!90"-!

>,9E!0.-!+6,>!@,.+!+5!;5!;,+!M5+,BP!!&6,!

-,9C1"),9!4,,2".;!=,1>!9C01,-P!

! U\Z!

!

!

!

!

!

!

!

!

!

!

!

A0.(,20!

!

! UZc!

!

!

!

!

!

!

!

!

!

!

!

H6,+6,1!+6,!;"129!;5+!+6,"1!K,1"5-9!".!+6,!C5.=,.+E!5.!0!="9"+!65*,E!51!".!

9C6552E!022!1,=,02!+6,!".+"*0+,!.,;5+"0+"5.9!+60+!;5!5.!015(.-!-,K01+".;!;"12655-E!

0.-!+6,!C5.=,.+h9!152,!".!+6"9!+10.9"+"5.P!!H6,+6,1!"+!"9!](0.0!@65!@,.+!65*,!0.-!

@"96,-!96,!@09!".!+6,!C5.=,.+!),C0(9,!96,!M.,@!,B0C+2>!@6,1,!+6,!M5+,B!@,1,E!51!

Q(L!@65!;5+!"+!".!+6,!6(,1+0!54!+6,!P";*5`$022!1,=,02!+6,!".+"*0+,!1,20+"5.96"K!

),+@,,.!+6,!C5.=,.+!0.-!),C5*".;!@5*,.E!0.-!d(9+!09!"*K51+0.+2>E!"+!1,=,029!+6,!

)51-,19!+6,>!C1599!0.-!#"$."(!@0.+!+5!C1599!".!+6,!K15C,99!54!;,++".;!+6,"1!K,1"5-9P$

A0.(,20!4"19+!;5+!6,1!K,1"5-!@6,.!96,!@09!

92,,K".;!".!+6,!65;01P!!&6,!90"-!96,!4,2+!0!

@01*!9,.90+"5.!0.-!d(9+!+65(;6+!"+!@09!(1".,P!!

H6,.!96,!0@5M,E!96,!1,02"L,-!+6,!),-!@09!4(22!

54!9K5+9!54!)255-P!!&6,!96>2>!C022,-!".!A0-1,!'P!

+5!965@!6,1P!!A0-1,!'!)15(;6+!6,1!M5+,B!0.-!

965@,-!6,1!65@!+5!K(+!"+!5.P!!A0.(,20!

-,9C1"),9!),".;!9C01,-!0.-!@511",-E!)(+!

A0-1,!'P!1,099(1,-!6,1!.5+!+5!@511>R!+60+!+6"9!

60KK,.9!+5!022!@5*,.P!!D4+,1!+60+E!A0.(,20!

90"-!96,!4,2+!),++,1!0.-!2"M,!0!@5*0.E!0.-!

-5,9.h+!C5*K1,6,.-!@6>!96,!@09!,=,1>!

9C01,-P!

! UZU!

#65(;6!+6,!45C(9!"9!65@!+6,>!".+,1K1,+!+6,"1!@5*0.655-!5.C,!".!+6,!

C5.=,.+E!+6,1,!"9!*(C6!9";."4"C0.C,!".!+6,!5.,9!+60+!5CC(11,-!0+!65*,P!!#6,!

9";."4"C0.C,!"9!+60+!"+!1,=,029!40*"2>!2"4,E!0.-!"+!0295!1,K0"19!0.-!1,N@1"+,9!,012>!

1,20+"5.96"K9!0.-!+",9!+5!*5+6,19!0.-!65*,!="220;,9P!

!

D4+,1!0)5(+!+6"1+>!*".(+,9!54!@1"+".;E!0.-!759"+0!@02M".;!015(.-!+6,!155*!+5!

1,0-!,=,1>5.,h9!.0110+"=,E!96,!4".022>!10"9,-!6,1!60.-P!!&6,!60-!0!90-!255M!5.!6,1!

40C,E!0.-!09M,-G!bP*($*0$H$'&QQ"',#$("$\51(,$1[$H$P*+,.Y($;"((,.$1($B,(i!!D+!+60+!

*5*,.+E!'!4,2+!(.K1,K01,-!0.-!1,02"L,-!+60+!'!60-!.5+!,=,.!+65(;6+!+60+!*0>),!

+6,1,!@09!0!;"12!@65!60-!.5+!;5++,.!6,1!K,1"5-!>,+P!!!

D4+,1!0!*5*,.+!54!9"2,.C,E!'!+52-!6,1!+60+!96,!C5(2-!@1"+,!0)5(+!@60+!96,!

"*0;".,9!"+!@"22!),!2"M,P!!D+!+60+!*5*,.+E!+6,!5+6,1!;"129!K(+!-5@.!+6,"1!K,.C"29!0.-!

544,1,-!759"+0!9(;;,9+"5.9!0.-!@51-9!54!0-="C,P!!F?5!+,!K1,C5C(K,9E!759"+0E!.5!=0!

,9+01!+0.!*02f!S-5.h+!@511>E!759"+0P!!'+!@5.h+!),!+60+!)0-fP!!!

D9!+6,!;"129!+1",-!+5!C5.952,!759"+0!0.-!544,1!@5*0.2>!0-="C,E!759"+0!),;0.!+5!

-10@E!255M,-!(KE!9*"2,-E!0.-!90"-E!Fe5!C1,5!8(,!=0!9,1!(.0!C590!*(>!6,1*590fP!!

!

! UZV!

Chapter 9 / Capítulo 9

Mi Secreto tiene sabor a manzana, a veces lo

guardo, a veces lo cuento:

Keeping Secrets in the Convent

! UZX!

%1$=,65,("$(1,.,$'*?"5$*$0*.M*.*O$*$+,6,'$8"$;&*5#"O$*$+,6,'$8"$6&,.(":$

b,,K".;!&,C1,+9!".!+6,!O5.=,.+!

!

'.!5.,!)";!155*E!+6,!;"129h!)(.M!),-9!2".,!(KP!!%0C6!;"12!;,+9!0!9*022!98(01,-!

C(K)501-!+5!K(+!6,1!9+(44!".N!C25+6,9E!+55+6)1(96E!0.-!0.>!K,195.02!"+,*9!+6,>!*0>!

60=,P!!#6"9!0C+"="+>!1,=,029!65@!+6,>!".+,10C+!@"+6!,0C6!5+6,1!09!;"129!0.-!".!+6,!

C522,C+"="+>!54!+6,!C5.=,.+P!!'+!1,=,029!+6,!)51-,120.-9!+6,>!60=,!>,+!+5!C1599!0.-!

@0.+!+5P!!'+!1,=,029!+6,!,BK,1",.C,!54!2"=".;!C5**(.022>!0.-!".!+6"9!C5.+,B+P!

'.!+6,!+,22".;!54!+6,"1!9,C1,+9!0.-!65@!+6,>!M,,K!+6,*E!+6,>!0295!1,=,02!0.!,2,*,.+!54!

-0"2>!2"4,!0+!+6,!C5.=,.+P!!#6,!9,C1,+9!1,=,02!.5+!d(9+!+6,"1!9,C1,+9E!)(+!".!;,.,102E!+6,!

@0>9!".!@6"C6!+6,>!".+,10C+!@"+6!,0C6!5+6,1!09!;"129P!!?0110+"=,9!0)5(+!M,,K".;!

9,C1,+9!60=,!0.!(.-,12>".;!.0110+"=,!+5!"+G!!+60+!54!C5*".;!54!0;,R!+6,!+6".;9!@,!

C6559,!+5!+,22!0.-!+6,!+6".;9!@,h-!10+6,1!.5+P!!'+!0295!1,=,029G!!65@!:[!>5(!M,,K!

9,C1,+9!".!+6,!C5.=,.+P!

'!@0.+!+5!;"=,!"*K51+0.C,!+5!+6,"1!9,C1,+9E!0.-!65@!+6,>!C011>!+6,"1!9,C1,+9!".!+6,!

C5.=,.+P!!#6,"1!9,C1,+9!01,!0)5(+!25=,E!0)5(+!@0.+".;!+5!),C5*,!.(.9E!*0".2>R!+6".;9!

+60+!1,42,C+!+6,"1!C5*".;!54!0;,P!

!

! UZW!

!

!

!

!

A012,.,!

!

A"!9,C1,+5G!!

A"!9,C1,+5!,9!*(>!"*K51+0.+,E!%2!9,C1,+5!8(,!+,.;5!,9!,2!

Ar9!)5."+5!>!*r9!6,1*595!

A01(!!

A"!9,C1,+5!

A"!9,C1,+5!,9!*(>!-"4"C"2!-,!;(01-01E!K518(,!08("!="=*59!

=01"09P!

A"!9,C1,+5!+",.,!95."-5!02!*01E!!#0.!02,;1,!02!0*0.,C,1P!

#0*)",.!,9!C5*5!,2!90)51!

:,!20!*0.L0.0!!

! UZY!

!

!

!

!

!

!

!

!

!

!

A01"0!7590!

!A"!9,C1,+5!

A"!9,C1,+5!,9!-"4jC"2!-,!

O5.+0125!K518(,!95*59!

t01"09!

e!0!=,C,9!9,.+"*59!*(C60!t,1;},.L0!C5.+0125P!

A0.(,20!

!A"!&,C1,+5!

!

A"!9,C1,+5!,9!40C"2!;(01-0125!K518(,!

Q09!C6"C09!.59!C(,.+0.!9(!9,C1,+5!K518(,!

C5.4"0.!,.!.595+159!>!.595+159!+,.,*59!8(,!

;(01-01!9(!9,C1,+5!>!.5!-,C"125!0!.0-",P!

!

A"!9,C1,+5!9(,.0!C5*5!,2!1,2r*K0;5P!

75Cj5!

A"!9,C1,+5G!

!

a(",15!9,1!*5.d0!

! UZ^!

!

Q(L!

!

!

!

! UZ_!

! !

!

!

!

D..0),220!

!

A"!9,C1,+5!

!A"!9,C1,+5!9",*K1,!,9+0!,.!*"!!

O510Lo.!.5!25!K(,-5!90C01!

:,!*"!K,C65!!

! UZ\!

!

!

!

!

D.+5.",+0!

!A"!&,C1,+5G!

!

#,.;5!,.0*510-5!

'90),2!

!A"!9,C1,+5!

!

A"!9,C1,+5!,9!*(>!-"4"C"2!;(01-25!,.!,2!

C5.=,.+5!

! UZZ!

!

!

!

!

!

A01"0N]59,4".0!

!A"!&,C1,+5!

!

A"!9,C1,+5!6(,2,!0!+",110!6n*,-0!

A"!9,C1,+5!90),!0!.010.d0!

A"!9,C1,+5!9(,.0!C5*5!*n9"C0!15*0.+"C0!

|(B"!

!A"!9,C1,+5!

!

A"!9,C1,+5!9(,.0!C5.5!20!22(="0!

A"!9,C1,+5!,9!C5*5!+5C01!(.0!K025*"+0!

9(0=,!

! Vcc!

!

!

!

#6,!9,C1,+9!1,=,02!-0"2>!2"4,!54!+6,!C5.=,.+E!0.-!0295!0)5(+!+6,"1!".+,10C+"5.9!

@"+6!+659,!+6,>!9601,!0.!".+"*0+,!9K0C,!@"+6G!,0C6!5+6,1P!!?5+!5.2>!01,!+6,9,!0295!

.0110+"=,9!54!0-0K+".;!+5!0!.,@!2"4,E!)(+!+6,>!1,=,02!95*,+6".;!0)5(+!)51-,120.-9!

+55P!!#6,>!1,=,02!+6,!)51-,120.-!),+@,,.!>5(.;!@5*0.655-!0.-!0-(2+!

@5*0.655-R!0.-!),+@,,.!;"129!0.-!.(.9P!!!

H1"+".;!0)5(+!9,C1,+9!1,=,02,-!*51,!+60.!d(9+!+6,!K,195.02!".+"*0+,!9,C1,+9!

54!0-52,9C,.+!;"129E!)(+!"+!"22(9+10+,9E!".!95*,!C09,9E!;"129h!1,20+"5.96"K!+5!+6,!C5.=,.+E!

;"129h!1,20+"5.96"K9!+5!C25"9+,1,-!9K0C,9E!+5!+6,"1!5@.!"*0;".0+"5.E!09!@,22!09!;"129h!

1,20+"5.96"K9!+5!+6,!-1,0*9!0.-!"*0;".0+"5.9!54!+6,"1!5@.!4(+(1,P!!#6,>!1,=,02!

@6,1,!+6,>!9,,!+6,"1!2"=,9!;5".;E!-,9K"+,!51!),C0(9,!54!+6,"1!K09+R!+6,>!)1,0M!

)011",19E!9(C6!09!75Cj5!@0.+".;!+5!),C5*,!0!.(.!0;0".9+!6,1!40*"2>h9!@"96,9!+60+!96,!

),C5*,!0!*5+6,1P!!#6,9,!9,C1,+9!01,!@60+!*0M,!(K!0.-!K099!+615(;6!+6,!@0229!+60+!

-"="-,!+6,!C5.=,.+E!+6,!9+51",9!+60+!C5..,C+!+6,!;"129!0.-!0!)2(,K1".+!54!+6,!+6".;9!

O01*,20!

!A"!&,C1,+5!

!

A"!9,C1,+5!9(,.0!`+10C!+10Cv!C(0.-5!9,!

90),!,2!9,C1,+5P!

A"!9,C1,+5!,9+0!,.!,2!C5.=,.+5!

! VcU!

+60+!*0M,!(K!;"129h!2"=,9R!+6,!+6".;9!+6,>!4,,2!C5.+0".!+6,*E!0.-!+659,!+6,>!4,,2!+60+!

2"),10+,!+6,*P!!H"+6".!+6,9,!@0229!+6,1,!01,!+65(90.-9!54!9,C1,+9E!2"M,!+6,!.(.9!

@65h=,!0-*"++,-!+60+!C25"9+,1,-!2"4,!"9!25.,2>R!+659,!@65!60=,!2,4+!),C0(9,!+6,>h=,!

4022,.!".!25=,R!+659,!@65!,.+,1,-!+6,!C25"9+,1!+5!,9C0K,!9,B(02!0)(9,E!0.-!+659,!@65!

"*0;".,!,.+,1".;!+6,!C25"9+,1!451!0.!5KK51+(."+>!+5!),!41,,!+5!2,01.E!1,0-!0.-!;15@P!!

! VcV!

Chapter 10 / Capítulo 10

Soy Mujer, Soy Peruana, y llevo mi hermoso pueblo dentro de mi:

Poems and Portraits of Identity Warm-Up Calentamiento -Write down every identity -Escribe cada identidad que tiene

that you have

! VcX!

="B$%&K,5O$="B$4,5&*.*O$B$88,+"$01$P,50"'"$Q&,?8"$#,.(5"$#,$01:$$/5,*9!0.-!/51+10"+9!54!'-,.+"+>!

!! ! ! !!

!

F&5*,!54!(9!M,,K!C5*".;!)0CMP!!&5*,!54!(9!25=,E!0.-!95*,!54!(9!

60+,E!95*,!54!(9!)5+6!25=,!0.-!60+,!5(1!)51-,120.-9P!!&5*,!54!

(9!1,*,*),1E!95*,!54!(9!451;,+f!

N?51*0!%2"0!O0.+nE!FO0.jC(20f!UZZY!

!

FA51,!+60.!>5(1!2"4,N652-".;!@5*)!0.-!>5(1!2"4,N;"=".;!K1"=0+,!K01+9q25=,!>5(1!

6,01+P!!351!+6"9!"9!+6,!K1"L,f!

! ! N]0.",E!".!F#6,"1!%>,9!H,1,!H0+C6".;!I5-f!

!

#6,!;"129!54!+6,$P";*5!,BK,1",.C,!*0.>!1#,.(1#*#,'$[5".(,51M"'R!+6,>!01,!.,"+6,1!".!

5.,!K20C,!.51!+6,!5+6,1P!

! VcW!

#6,"1!"-,.+"+>!"9!451*,-!+615(;6!9,=,102!9>*)529!0.-!1,4,1,.+9E!-,4".".;!"+9,24!0.-!

1,-,4".".;!"+9,24!".!-"44,1,.+!9"+(0+"5.9P!!D9!@,!9,,!".!+6,"1!9+51",9!0)5(+!+6,"1!

65*,+5@.9!@6,1,!+6,>!(9,!+6,"1!*,*51>!0.-!"*0;".0+"5.!+5!1,C1,0+,!0.-!

1,*,*),1!9+51",9!+60+!+0M,!K20C,!".!+6,!65*,+5@.9!+6,>!2,4+!),6".-R!".!+6,"1!K5,*9!

0)5(+!2,0=".;!65*,!0.-!+10=,22".;!+6,!,K"C!;,5;10K6"C!0.-!C5.C,K+(02!d5(1.,>!+5!+6,!

C5.=,.+R!@,!9,,!+6,!*,+0K6519!0.-!+6,!9";."4",19!54!+6,"1!451*".;!"-,.+"+",9P!!351!

,B0*K2,E!+6,!C5.=,.+!"9!02@0>9!+6,1,!09!*,+0K651!51!09!40C+P!

!

J,C0(9,!54!+6,"1!(."8(,!,BK,1",.C,E!),C0(9,!+6,>!01,!(.C0+,;51"L0)2,!

C1,0+"=,!),".;9E!+6,>!,BK1,99!)51-,19!+60+!01,!.5+!.,C,9901"2>!;,5;10K6"C02!)(+!

C(2+(102P!!#6,>!01,!-"9C5(10;,-!415*!,BK1,99".;!+6,"1!".-";,.5(9!"-,.+"+",9P!!H60+!"9!

".+,1,9+".;!"9!+60+!.5+!0!9".;2,!5.C,!C20"*9!0.!".-";,.5(9!"-,.+"+>!".!+6"9!0C+"="+>E!)(+!

".!0!@0>E!+6,>!:[!),C0(9,!+6,>!C20"*!+6,"1!.0+"=,!C5**(."+",9P!!#6,>!-10@!+6,"1!

.0+"=,!C5**(."+",9!5.!+6,"1!)5-",9E!9601".;!"+!@"+6!,"+6,1!+6,"1!"-,.+"+",9!09!

9+(-,.+9E!51!09!@5*,.P!

#6,9,!;"129E!),C0(9,!54!+6,"1!C5.+,B+E!+6,!.0+(1,!54!+6,"1!,BK,1",.C,E!9+10--2,!

9,=,102!"-,.+"+",9P!!#6,>!01,!)5+6!;"129!0.-!@5*,.E!/,1(="0.!0.-!".-";,.5(9E!9*022!

="220;,!0.-!201;,!+5@.E!,+CP!!D9!0!@01*!(KE!@,!+02M,-!0)5(+!+6,!-"44,1,.+!"-,.+"+",9!

+60+!,B"9+E!0.-!65@!*0.>!"-,.+"+",9!5.,!K,195.!C5(2-!60=,P!!&5*,!90"-!+60+!"+!@09.h+!

K599")2,!+5!5.2>!60=,!5.,P!!'!09M,-!+6,*!+5!@1"+,!-5@.!,=,1>!"-,.+"+>!+6,>!C5(2-!

+6".M!54!+60+!+6,>!60=,P!!#6,>!)10".9+51*,-!"-,.+"+",9!+60+!@,1,!5(+9"-,!54!+6,!

;,.,102!C0+,;51",9!54!;,.-,1!0.-!.0+"5.02"+>E!0.-!965@,-!+6,!C5*K2,B"+",9!0.-!

-,K+6!54!+6,9,!"-,.+"+",9!".!+6,!"22(9+10+"5.9!+60+!0CC5*K0.",-!+6,!K5,*9P!

! VcY!

!

!

!

!

$,1,E!A01(!"-,.+"4",9!6,19,24!*59+2>!@"+6!4,*02,.,99N!;"12655-!0.-!

@5*0.655-P!!&6,!C,2,)10+,9!6,1!;"12655-E!0.-!90>9!"+!"9!2"M,!0!),0(+"4(2!159,P!!'+!"9!

0295!2"M,!0!C259,-!2,++,1!+60+!M,,K9!"+9!4,,2".;9!".9"-,!6,1!C6,9+P!!H,!9,,!415*!6,1!

-10@".;!5.!6,1!C6,9+!+60+!6,1!65*,+5@.!"9!"*K2"C0+,-!".E!0.-!451*9!+6,!9,.9,!54!

@5*0.655-!96,!"9!*0+(1".;!".+5P!!H6,1,09!@5*0.655-!C0.!)25995*!5.!+6,!

5(+9"-,E!".!K()2"C!=",@R!+6,!25=,E!*,*51>!0.-!.59+02;"0!54!65*,+5@.!)25995*9!5.2>!

5.!+6,!".9"-,!0.-!5.2>!101,2>!"9!"+!9601,-P!!#6,!9,C1,+E!+6,!,*5+"5.9!M,K+E!+6(9E!01,!

+6,!,B"9+,.C,!54!0!65*,+5@.!401!415*!+6,!C5.=,.+E!0.-!01,!1,K1,9,.+,-!".!+6,!

-10@".;!5.!+6,!*"--2,!54!6,1!C6,9+P!!!

#6,1,!"9!0.!".C1,-")2,!.59+02;"0!451!6,1!65*,+5@.E!)(+!"+!"9!0!.59+02;"0!M,K+!

@"+6".E!@"+66,2-E!.5+!5.2>!),C0(9,!96,!"9!401!415*!65*,E!)(+!0295!),C0(9,!.5!5.,!

[-0!0!*"!*"9*0!

!

[6!6,1*590!>!+",1.0!."k0E!!a(,!,1,9!C5*5!(.0!

7590!6,1*590P!a(,!+0*)",.!,1,9!C5*5!

<.0!C01+0!*(>!C,110-0!

a(,!;(01-09!+(9!9,.+"*",.+59!%.!+(!K,C65!

/,15!C(0.-5!25!1,C(,1-09!

Q5!C(,.+09!0!+(9!0*";09!:,!+(!6,1*595!K(,)25!

a(,!2,!22,=09!-,.+15!-,2!

/,C65!C5.!+0.+5!0*51!

e!C01"k5!8(,!2,!+",.,9P!

!! ! N/51!A01(!

!

!

! Vc^!

,29,!".!6,1!C(11,.+!"**,-"0+,!2"4,!0+!+6,!C5.=,.+!51!0+!9C6552!9601,9!+6"9!65*,+5@.P!!

&5!96,!@"+6652-9!"+!02*59+!2"M,!0!9,C1,+P!

!

!

!

!

!

!

!

!

Q"M,!A01(E!A012,.,!C5*)".,9!@5*0.655-!0.-!65*,+5@.!09!6,1!+@5!*0".!

"-,.+"+",9!0.-!+6,!5.,9!+60+!),9+!-,9C1"),!6,1P!!&6,!+0M,9!;1,0+!K1"-,!".!6,1!

4,*"."."+>E!,BK20".".;!+60+!96,!C659,!+5!-10@!6,1!"-,.+"+>!5.!+5K!54!+@5!9,B>!2,;9P!!

#6,!)5++5*9!54!6,1!2,;9!01,!-10@.!2"M,!1"=,19E!0.-!5.!+6,!6"K9!"9!0!="220;,!@"+6!9*022!

65(9,9P!!#6,1,!"9!0295!0!)"1-E!@6"C6!"9!0!1,C(11".;!9>*)52!".!9,=,102!54!A012,.,h9!

! ! [-0!0!*"!-")(d5!!

A,!6"C,!,9+0!+01-,!

<.!6,1*595!-")(d5!

%9!,2!*,-"5!-,2!

O(,1K5!-,!(.0!&,B"!*(d,1!95)1,!

Q59!K",1.09!-")(d,!

Q09!0;(09!>!(.0!

O0.50!>!(.09!

O0909P!

&5)1,!209!-59!!

/",1.09!,9+0!

:")(d0-5!(.!

$,1*595!K0"90d,!

%9+0!+0.!6,1*595!*"!:")(d5P!

%9!=,1-0-,15E!,9!

Q5!8(,!9",.+5!

/51!*"!*"+0-!

:,!*"!C(,1K5!!

! ! ! N/51!A012,.,!

! Vc_!

K5,*9P!!D!25+!54!6,1!9+51",9!0.-!K5,*9!01,!".42(,.C,-!)>!+6,!*>+6525;>!54!+6,!

*>+6"C02!&60.!&65!)"1-P!!#6,!".C2(9"5.!54!+6"9!)"1-!*0M,9!"+!5)="5(9!+60+!+6,!+5@.!

96,!-,K"C+9!"9!6,1!65*,+5@.P!!&6,!-,9C1"),9!+6"9!+5@.!09!60=".;!),0(+"4(2!20.-9C0K,R!

0.-!+6,!C0.5,E!1"=,1E!0.-!65(9,9!2",!5.!+6,!2,;9!54!0!),0(+"4(2!@5*0.P!

!

!

!

!

!

A01"0!]59,4".0!45C(9,-!*51,!5.!6,1!"-,.+"+>!09!

0!@5*0.P!!$5@,=,1E!6,!9,.9,!54!@5*0.655-!"9!.5+!"9520+,-P!!Q"M,!".!95*,!54!+6,!

! ! A"!'-,.+"-0-!

!

e5!95>!20!."k0!

&".C,10!

A,!9",.+5!02,;1,!Q59!-j09!!

a(,!,2!C",25!9,!K5.,!0Ln2!

!

Q0!*"+0-!-,!*"!C010!

%9!(.!

/0"90d,!

!

&5>!*010="22590!!

&5>!4",2!

e!!

D2,;1,!

!

%9+5>!,C60!(.0!*(d,1!

#,.;5!,2!C0),225!.,;15!

!

a("9",10!9,1!(.!C,115!

%2!*r9!02+5!

!A",.+109!+0.+5!8("9",10!

&,;("1!9",.-5!(.0!

?"k0!02,;1,!

! Vc\!

5+6,1!,B0*K2,9E!96,!2".M9!+6,!K09+!0.-!K1,9,.+E!65*,+5@.!0.-!@5*0.655-!+5!+02M!

0)5(+!6,1!"-,.+"+>P!!&6,!"9!0!+5+02!@5*0.E!96,!90>9E!0.-!96,!@0.+9!+5!),!+6,!+022,9+!

*5(.+0".!-,K"C+,-!".!6,1!-10@".;E!)(+!*,0.@6"2,E!96,!@0.+9!+5!C5.+".(,!),".;!+6,!

60KK>!;"12!+60+!96,!"9P!

!

!

!

!

!

!

!

!

!

!

! ! [-0!0!*"!-")(d5!

!`[$v!A"!6,1*595!-")(d5!

8(,!1,K1,9,.+0!*"9!2".-5!

K0"90d,!8(,!-09!

,2!0"1,!K(15!

,1,9!C*5!9"!4(,10!

,2!(."C0!8(,!,B"9+,!,.!,2!*(.-5P!

!

A,!;(9+0!259!!O5251,9!8(,!+,!K".+,!

A"!2".-5!-")(d5!

/518(,!.59!-09!+(!2".-5!

/0"90d,!>!0-510-59!

7j59!>!r1)52,9!

!

! ! ! N/51!O01*,20!

! VcZ!

!

!

O01*,20h9!K5,*!0.-!-10@".;!1,K1,9,.+9!*51,!54!6,1!65*,+5@.E!@6"C6!96,!

-10@9!5.!+6,!2,4+!6024!54!6,1!)5->P!!D2+65(;6!96,!-5,9!.5+!.0*,!,B0C+2>!@60+!+6,!

5+6,1!"-,.+"+>!"9R!+6,1,!"9!9+"22!0!6024!(..0*,-E!>,+!,B"9+,.+P!!'.!0!9,.9,E!+6"9!C5(2-!

1,K1,9,.+!0.!"-,.+"+>!@0"+".;!+5!),!4"22,-!0.-!9+"22!-,=,25K".;R!"+!1,K1,9,.+9!0.!

(..0*,-!K1,9,.+P!!'*K51+0.+!+5!+6"9!(..0*,-!6024!"9!+6,!6024!+60+!96,!4"229!@"+6!

"*0;,9!54!6,1!65*,+5@.P!!!

&6,!-,9C1"),9!0!9,.9,!54!K(1"+>!0)5(+!+6"9!65*,+5@.E!0.-!.59+02;"0!54!@60+!"+!

"9!2"M,P!!J,>5.-!0!4,,2".;!54!.59+02;"0E!+6,1,!"9!K1"-,!".!"+9!(."8(,.,99!0.-!-,K+6!".!"+9!

*,*51>!@6,.!96,!90>9!+60+!96,!4,,29!2"M,!6,1!="220;,!"9!+6,!5.2>!5.,!+60+!,B"9+9P!!&6,!

+60.M9!6,1!="220;,!451!+6,!1"=,19!0.-!+1,,9!+60+!,=,1>5.,!25=,9P!

!

!

! VUc!

!

!

H"+6!%2,.0h9!K5,*!0.-!-10@".;E!),;".9!0.!"-,.+"+>!+60+!*0M,9!0!*51,!

5)="5(9!C5..,C+"5.!54!+6,"1!C(11,.+!2"4,!".!e(1"*0;(09!+5!+6,"1!"-,.+"+>P!!$,1,E!6,1!

"-,.+"+>!9K0.9!)5+6!K09+p.0+"5.02"+>p65*,+5@.E!+5!+6,!),;"..".;!54!6,1!2"4,!09!0!

9+(-,.+!@6,.!011"=".;!+5!+6,!C5.=,.+P!!&6,!),;".9!+6,!K5,*!)>!90>".;!+60+!4"19+!96,!

"9!/,1(="0.E!0.-!K15(-!+5!),!415*!9(C6!0!),0(+"4(2!="220;,P!!$,1!="220;,!"9!-10@.!5.!

+6,!2,4+!60.-!9"-,E!0.-!2"M,!*59+!54!+6,!5+6,1!;"129h!="220;,9E!"9!-,K"C+,-!@"+6!0!4,@!

9*022!65(9,9!C259,!+5;,+6,1E!0.-!@"+6!C0.5,!9"++".;!".!+6,!1"=,1P!!D2+65(;6!96,!"9!

+02M".;!0)5(+!6,1!="220;,E!96,!1,4,19!+5!+6,!="220;,!5.2>!09!F/,1(fP!!&6,!90>9E!/,1(E!>5(!

*(9+!),!K15(-!+5!60=,!+659,!),0(+"4(2!65(9,9P!!&6,!90>9!+60+!/,1(!S6,1!="220;,T!@"22!

.,=,1!;"=,!(K!0.-!+60+!"+!C0.!0C6",=,!0.>+6".;!"4!"+!4";6+9!451!"+P!!!

D+!+6,!,.-!54!+6,!K5,*E!/,1(!+6,.!),C5*,9!.5+!6,1!="220;,E!)(+!6,1!K1,9,.+!

C5.+,B+!54!2"=".;!0.-!;5".;!+5!9C6552!".!0!)";;,1!C"+>!Se(1"*0;(09TP!!&6,!90>9E!/,1(E!

! !

[-0!0!A"!'-,.+"-0-!!

&5>!/,1(0.0!-,!C510Lo.!>!*,!

&",.+5!51;(22595!K51!+,.,1!(.0!

O5*(."-0-!+0.!),220E!+(!8(,!+,!

&",.+,9!-"C6590!-,!+,.,1!(.09!C0909!$,1*5909E!.(.C0!+,!-,9!K51!=,.C"-0E!

&";0!K15;1,90.-5!>!=,10L!8(,!25!

Q5;10109E!+(!8(,!*,!-"9+,!(.0!J(,.0!,.9,k0.L0!>!,.!*"!C510Lo.!

Q2,=5!20!".9";."0!8(,!*,!"-,.+"4"C0!O5*5!)(,.0!,9+(-"0.+,9P!

#(!K(,-,9P!

!3".P!

!

! ! ! N%2,.0!

! VUU!

@65!;0=,!*,!0.!,-(C0+"5.G!+60+!"9!@6>!'!-10@!*>!9C6552!9>*)52!5.!+6,!1";6+!9"-,!54!

*>!)5->P!!/,1(E!451!%2,.0!"9!022!54!+6"9P!!'+!"9!+6,!C5**(."+>!+60+!)15(;6+!6,1!+5!2"4,E!

+6,!C5**(."+>!54!9*022!65(9,9E!6P*65*'!0.-!C0.5,9!+60+!+0M,!5.,!5.!+6,!1"=,19!+60+!

C5..,C+!/,1(R!+6,!C5**(."+>!+60+!*"99"5.01",9!,.+,1,-!+5!1,C1("+!>5(.;!;"129!0+E!0.-!

4".022>E!"+!"9!+6,!C5.=,.+!@659,!.(.9!45(.-!6,1!0.-!-,C"-,-!96,!@5(2-!),!),++,1!544!

;,++".;!0.!,-(C0+"5.!+60.!),".;!0!*"99"5.01>P!!%2,.0~9!"-,.+"+>!9K0.9!0!201;,!

;,5;10K6"C!0.-!,*5+"5.02!01,0!0.-!-,K"C+9!.5+!5.2>!+6,!1,02"+>!54!+6,!C5.+,B+!54!6,1!

2"4,E!)(+!54!0!C,1+0".!/,1(="0.!C5.+,B+!201;,2>!";.51,-E!)(+!0295!@6"C6!+6,9,!9"B+,,.!

;"129!2"=,!@"+6P!

!

!

!

!

!

!

!

!

!

!

!

!

!

!

! VUV!

!

!

!

!

Q"M,!%2,.0h9!"-,.+"+>!K5,*!0.-!-10@".;E!75Cj5h9!-5,9!.5+!*0M,!0!.0+"5.02"9+!!

-"9+".C+"5.!),+@,,.!6,1!="220;,!0.-!C(11,.+!2"4,!".!+6,!)";!+5@.P!!/,1(E!6,1!Q*(51*$

W&,51#*E!"9!0+!5.C,!+6,!="220;,!+60+!90@!6,1!;15@!2"M,!C10-2,!4(22!54!*,*51",9!96,!

!

! [-0!0!*"!K0+1"0!-,.+15!-,!*j!!

[6E!K0+1"0!8(,1"-0!

#(!*,!="9+,!C1,C,1!

%1,9!K010!*"!(.0!

O(.0!22,.5!-,!1,C(,1-59!

K51!1,C51-01P!

!

D6510!8(,!9";5!C1,C",.-5!t5>!-,9C()1",.-5!

%2!,.C0.+5!-,!.(,9+159!

D.C,9+159E!8(,!)5."+5!

&5.!209!6"9+51"09!

:,!*"9!6,1*0.59!8(,!

<.!-j0!259!,9K0k52,9!

:,9+1(>,15.P!

![6E!K0+1"0!8(,1"-0!,.!

A"!K154(.-5!C510Lo.!

#,!22,=5!C5.!*(C65!51;(225!

/51!8(,!,.!+(!9,.5!*,!

&59+",.,E!C5*5!959+",.,!<.!."-5!0!(.!K0d015!

!#,!0*51!/,1n!

!

N/51!75Cj5!!

! VUX!

@0.+9!+5!1,*,*),1!S22,.5!-,!1,C(,1-59!K51!1,C51-01TR!0.-!0+!5.C,!022!54!".-";,.5(9!

/,1(P!!&6,!90>9E!.5@!+60+!'!*0+(1,E!'!0*!".!+6,!K15C,99!54!-"9C5=,1".;!+6,!),0(+>!54!

5(1!0.C,9+519P!!&6,!C5.+".(,9G!65@!),0(+"4(2!01,!+6,!9+51",9!54!*>!K,5K2,!+60+!+6,!

&K0."96!-,9+15>,-P!!315*!6,1!-10@".;E!@,!M.5@!+6,!5+6,1!6024!54!6,1!"-,.+"+>!"9!0!

9+(-,.+E!+6,!K20C,!@6,1,!"9!*0+(1".;P!!D+!+6,!,.-!54!+6,!K5,*E!96,!C5*K01,9!6,1!

1,20+"5.96"K!+5!/,1(!2"M,!0!.,9+!+60+!.(1+(1,9!0!)"1-P!

!

!

[$!

/,1n!

8(,!

! #(9!2".-59!C5251,9!8!95.!

75d5!>!)20.C5!

%2!15d5!9";."4"C0!

a(,!*(C659!

/,1(0.59!

:,110*015.!20!90.;1,!

/51!902=01!0!.(,9+10!)0.-,10!

!!!!!!!!!!!!!e!,2!C5251!)20.C5!

!!%9!20!K0L!!

! !!!!!!!!!!!!/010!+5-5!,2!*(.-5P!

!

A"!"-,.+"-0-!

u&5>!*(d,1!

u&5>!)",.!K,1(0."+0!

u&5>!,9+(-"0.+,!

u&5>!>(1"*0;(".0!>!=015-,1".0!uQ51,+0.0!

!

[-0!0!*"!K0+1"0!>!0!*"!159+15!

!

! ! !

! VUW!

D.+5.",+0h9!K5,*!"9!*(C6!*51,!0)5(+!.0+"5.02"9+!"-,.+"+>P!!#6,1,!"9!*(C6!*51,!

0)5(+!6,1!4,,2".;9!+5@01-!/,1(!".!+6,!0C+(02!@1"+".;E!)(+!6,1!-10@".;!"9!*51,!

K,195.02E!0--".;!".!+6,!"-,.+"+>!54!0&K,5!0.-!-10@".;!6,1!2"4,!9+51>!5.!6,1!)5->P!!?5+!

5.2>!"9!96,!0!0&K,5$Q,5&*.*E!)(+!0!@5*0.!@"+6!+@5!65*,9!0.!,BK0.9"=,!.0+"5.02!0.-!

;,5;10K6"C!"-,.+"+>E!09!+6,!+10=,2!15(+,!415*!C090pC60C10!+5!C5.=,.+!"9!-10@.!5.!6,1!

)5->P!!$,1!C090!0.-!C60C10!01,!*0-,!+5!255M!2"M,!+6,>!01,!d(9+!(K!+6,!150-!415*!+6,!

C5.=,.+E!1,K1,9,.+,-!@"+6!+6,!201;,!"15.!9";.G!F&525!:"59!J09+0f!!"#$1'$*88$B"&$.,,#]$

$

!

!

!

$,1,E!|(B"!-,C"-,-!+5!@1"+,!*51,!0)5(+!+6,!+1,0+*,.+!54!+6,!20.-!09!0!@0>!+5!+02M!

0)5(+!"-,.+"+>P!!D2+65(;6!96,!-5,9!.5+!@1"+,!9K,C"4"C022>!0)5(+!6,19,24E!+6,1,!"9!0!

*,+0K651!".!+6"9!K5,*!0)5(+!+6,!5=,1022!+1,0+*,.+!54!".-";,.5(9!C5**(."+",9!".!

+6"9!1,;"5.P!!D!*"9+1,0+*,.+!54!20.-!".!+6"9!1,;"5.02!"4!9>.5.>*5(9!@"+6!0!

*"9+1,0+*,.+!54!K,5K2,P!!|(B"!609!@0+C6,-!6,1!5@.!40*"2>!9(44,1P!!D4+,1!022E!*59+!54!

! Q0!#",110!,9+0!9(41",.-5!

!Q0!+",110!,9+0!9(41",.-5!

/518(,!.5!20!C("-0*59!>!

#"10*59!20!)09(10!>!C5.+0*".0*59!,2!

A01!8(,!*09!K5-,*59!,9K,101!

Q0!+",110!,9+0!9(41",.-5!K51!8(,!

#020*59!259!r1)52,9!>!K518(,!

A0+0*59!0!9(9!0."*02,9P!!

3'?P!

!

! ! N/51!|(B"!

! VUY!

+6,!;"129!".!+6"9!C5.=,.+!01,!6,1,!),C0(9,!+6,"1!40*"2",9!C0..5+!04451-!+6,"1!

-0(;6+,19E!0.-!@"+6!+6,!1,C,.+!9,22".;!54!C5**(."+>!0.-!".-";,.5(9N5@.,-!20.-9!

(.-,1!0!.,@!/,1(="0.!20@!)0CM,-!)>!+6,!<."+,-!&+0+,9E!+6,>!.5!25.;,1!5@.!+6,!20.-9!

+6,>!60=,!9K,.+!;,.,10+"5.9!@51M".;!5.P!

!

!

!

! ! ! ! ! ! uuu!

!

!

!

#6,!C5.=,190+"5.!015(.-!"-,.+"+>!@09!*59+2>!8(",+E!(.+"2!+6,>!0C+(022>!9+01+,-!

-10@".;!0.-!2"9+".;!+6,"1!"-,.+"+",9P!!A0.>!54!+6,!;"129E!,9K,C"022>!+6,!>5(.;,1!5.,9E!

*0>),!4,2+!+60+!+6,>!60-!+5!-,K"C+!0!.0+"5.02"9+!"-,.+"+>!+60+!+6,>!K,160K9!-"-!.5+!

4,,2E!)(+!+6,>!90@!+6,!5+6,1!;"129!-,K"C+".;!+6"9P!!:"0.0E!+6,!>5(.;,9+!0.-!+6,!5.,!

@65!*59+!1,C,.+2>!2,4+!6,1!="220;,E!K1,9,.+,-!6,1!"-,.+"+>!09!9(C6G!

!

!

!

!

!

!

!

! ! [-0!0!*"!"-,.+"-0-!

&5>!(.0!*(d,1!K,1(0.0!Q2,.0!-,!+,1.(10!8(,!+",.,!

#5-5P!!t"=5!,.!(.0!C09"+0!

$,1*590!22,.0!-,!C5909!>!

#,.;5!(.!C(,1K5!,2,;0.+,!

a(,!K51!,95!Q0!,9C5;"!,90!K01+,!

a(,!*,!;(9+0!*r9!

:,!+5-09!209!K01+,9!>!K51!a(,!,9!,.C0.+0-510!

! ! N759"+0!

! VU^!

759"+0!@15+,!+6"9!8("CM2>!0.-!@09!5)="5(92>!(.90+"94",-!@"+6!"+E!K,160K9!),C0(9,!+6,!

-10@".;!+55!C259,2>!1,9,*)2,-!5+6,1!-10@".;9P!!&6,!@09!0295!(.90+"94",-!@"+6!@60+!

96,!@15+,E!9C10+C6".;!5(+!,=,1>!2".,!0.-!+,01".;!K0;,9!415*!6,1!.5+,)55M9!0.-!

K(++".;!6,1!6,0-!40C,!-5@.!5.!+6,!-,9MP!!3".022>E!96,!09M,-!*,E!Fs&,k51"+0!D..0E!9"!

>5!K",.95!8(,!95>!6,1*590qP,95!K(,-,!9,1!*"!"-,.+"-0-if!

D2+65(;6!"+!@09.h+!,B0C+2>!@60+!'!@09!255M".;!451E!'!1,02"L,-!+60+!"+!@09!.5+!0)5(+!

@60+!'!@09!255M".;!451P!!'!90"-E!FC2015!8(,!9"fP!!!

!

!

#6,9,!01,!022!+6,!"-,.+"+",9!+60+!+6,>!9+10--2,!0.-!.,;5+"0+,E!0.-!+6,>!01,!K(22,-!

415*!+6,"1!2"4,!,BK,1",.C,9P!!#6"9!"9!.5+!.,C,9901"2>!0)5(+!+6,!"-,.+"+",9!+6,>!C6559,E!

)(+!022!54!+6,"1!"-,.+"+",9E!0.-!65@!+6,>!.,;5+"0+,!),+@,,.!022!54!+6,*P!!#6,"1!

"-,.+"+",9!01,!".451*,-!)>!+6,"1!,BK,1",.C,9P!

! VU_!

28

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!V\!D..0),220E!415*!F3(+(1,!Q,++,1!+5!&,24f!0C+"="+>!

! VU\!

-"5#,58*.#$?,(\,,.$B"&.;$\"0*.P""#$*.#$*#&8($\"0*.P""#$

$

[.,!-0>!),451,!0.!0C+"="+>!@6,1,!'!09M,-!+6,*!+5!@1"+,!K5,*9!+60+!),;0.!

@"+6!Fe5!&5>fE!H$*0E!'!09M,-!+6,!C2099!".451*022>!@60+!+6,!)5->!@5(2-!90>!"4!"+!C5(2-!

9K,0MP!!#0+"0.0E!".!0!25@!=5"C,E!09!"4!"+!@,1,!C5*".;!415*!95*,@6,1,!,29,E!1,9K5.-,-E!

Fa(",15!9,1!(.!C(,1K5!C5*K2,+5fP!!%=,1>5.,!20(;6,-P!!!

!

'.!+6".M".;!0)5(+!+6,!,=5M".;!54!+6,"1!.0+"=,!65*,9E!+6,!d5(1.,>!415*!+60+!

65*,!+5!+6,!C5.=,.+E!0.-!4".022>E!+6,!C5.=,.+E!'!4".-!0+!"+9!-,K+6!0!9+1(;;2,!+5!-,4".,!

0.-!?,C5*,$@5*,.P!!#6,1,!01,!*0.>!,2,*,.+9!+5!+6,!,BK2510+"5.!54!+6,!)51-,19!0.-!

9K0C,!),+@,,.!+6,"1!;"12655-!0.-!@5*0.655-E!415*!;"=".;!+6,"1!5K"."5.9!5.!25=,E!

+5!*0M".;!0!C601+!@6,1,!+6,>!9,K010+,!+6,!+6".;9!+60+!*0M,9!+6,*!@5*,.!0.-!+6,!

+6".;9!+60+!M,,K!+6,*!;"129E!+5!@1"+".;!5-,9!+5!25=,-!0.-!60+,-!)5->!K01+9!0.-!

@1"+".;!K5,*9!9+01+".;!@"+6!F/010!&,1!A(d,1f!S'.!51-,1!+5!),!0!@5*0.PPTP!!!

!

!

'!+6".M!0)5(+!75Cj5h9!d5M,!54+,.E!0.-!@60+!"+!C5(2-!*,0.!+5!),!0!6&,5Q"$

6"0Q8,("P!!!D2+65(;6!@60+!96,!90"-!@09!*,0.+!09!0!d5M,!+5!*0M,!022!+6,!5+6,1!;"129!

20(;6E!+6,1,!"9!95*,+6".;!=,1>!1,02!0.-!=,1>!+,22".;!".!@60+!+60+!C5(2-!*,0.G!+5!),!0!

C5*K2,+,!)5->P!!A0.>!54!+6,!;"129!60=,!),,.!9,B(022>!0)(9,-!),451,!011"=".;!+5!+6,!

C5.=,.+E!022!60=,!),,.!9,K010+,-!)>!+6,"1!40*"2",9!(.-,1!C5*K2"C0+,-!0.-!601-!

C5.-"+"5.9E!0.-!022!,BK1,99!0!-,9"1,!+60+!@6,.!+6,>!2,0=,!+6,!C5.=,.+!+5!),C5*,!

".-,K,.-,.+!@5*,.!0.-!+5!.5+!60=,!+5!*011>!0.-!60=,!*0.>!C6"2-1,.!0+!0!>5(.;!

! VUZ!

0;,P!!'.!5+6,1!@51-9E!+6,"1!4,019E!-,9"1,9E!"*0;".0+"5.9E!K20.9!C0.!),!25C0+,-!+5!+6,!

)5->P!

!

#6,!+5K"C!54!+6,!)5->!"9!6(;,!"9!+6,"1!C5.=,190+"5.9E!@1"+".;9E!0.-!d5M,9E!

),C0(9,!+6,>!01,!0+!0.!0;,!@6,.!+6,>!01,!,BK251".;!"+!0.-!,BK251,!"+!,09"2>!".!0.!

".6,1,.+2>!4,*".".,!9K0C,!2"M,!+6,!C5.=,.+P!!#6,"1!,BK2510+"5.!54!+6,"1!)5->!"9!0!

K15*".,.+!,2,*,.+!".!+6,!,BK2510+"5.!54!+6,"1!5=,1022!@5*0.655-!0.-!+6,"1!

"-,.+"+",9R!0.-!@,!9,,!"+9!"*K51+0.C,!,=,.!".!+6,!0C+"="+",9!.5+!9K,C"4"C022>!*,0.+!+5!

,B+10C+!0!.0110+"=,!54!)5-",9!51!@5*0.655-E!9(C6!09!+6,!'.=,.+,-!Q,;,.-!@6,1,!

*59+!".=,.+,-!4,*02,!K15+0;5."9+9!K599,99,-!95*,!951+!54!)5-"2>!K5@,1!+60+E!

+615(;6!4"C+"5.E!1,N@15+,!,*5+"5.022>!-"44"C(2+!,=,.+9!".!+6,"1!0C+(02!2"=,9P!!#6,1,451,E!

1,+(1.".;!+5!+6,!,=5M".;!54!65*,9E!d5(1.,>9!0.-!+6,!C5.=,.+R!+6,9,!+61,,!01,!,=5M,-!

.5+!5.2>!),C0(9,!+6,>!451*!K01+!54!,0C6!;"129h!,BK,1",.C,E!)(+!),C0(9,!+6,9,!+61,,!

,2,*,.+9!60=,!;"=,.!+6,*!0!9K0C,!@"+6!@6"C6!+5!K20>!@"+6!+6,!*,0.".;9!54!+6,*!+55P!!

#6,>!451*!K1545(.-2>!".42(,.+"02!K01+9!54!65@!+6,>!C6559,!+5!.0110+,!+6,!9+51",9!

0)5(+!+6,"1!2"=,9R!0+!+6,"1!C51,!02@0>9!0!8(,9+"5.!0)5(+!@5*0.655-P!

!

D2+65(;6!+6,!K1,="5(9!C60K+,19!60=,!*51,!+5!-5!@"+6!;,5;10K6"CE!C(2+(102E!

20.;(0;,!0.-!9K0C,!)51-,19R!+6,>!01,!022!".451*,-!)>!+6,"1!451*".;!9,.9,!54!

@5*0.655-P!!%=,.!+65(;6!+6,>!.,;5+"0+,!+6,!)51-,19!),+@,,.!65*,!0.-!C5.=,.+E!

1(102!0.-!(1)0.E!".-";,.5(9!20.;(0;,!0.-!&K0."96E!40*"2>!0.-!.(.9E!,+CP!;("-".;!+60+!

"9!+6,"1!5@.!C5*".;!54!0;,!".+5!@5*0.655-G!0!+10.9"+"5.!-,4".,-!0.-!".451*,-!)>!

+6,9,!5+6,1!)51-,120.-9!0.-!="C,!=,190P!!!

! VVc!

#6,!209+!K01+!54!+6"9!+6,9"9!"9!-,-"C0+,-!+5!K5,+1>E!9+51",9!0.-!.0110+"=,9!+60+!60=,!+5!

-5!@"+6!+6,!+10.9"+"5.!415*!;"12655-!".+5!@5*0.655-P!

!

'!@0.+!+5!;"=,!"*K51+0.C,!+5!+6,!(."8(,!K20C,!@6,1,!+6"9!+10.9"+"5.!"9!

60KK,.".;G!0.!".6,1,.+2>!4,*"."9+!K20C,G!+6,!C5.=,.+P!!'+!"9!".!+6,9,!C60K+,19!+60+!+6,!

C5.=,.+!K20>9!"+9!*59+!"*K51+0.+!152,E!),C0(9,!d(9+!09!@,!1,0C6!+6,!209+!90*K2,9!54!

@1"+".;E!*0.>!54!+6,*!01,!0295!1,0C6".;!+6,!*5*,.+!@6,.!+6,>!*(9+!-,C"-,!@60+!

K0+6!+5!C6559,P!!&5*,!@"22!C6559,!+5!),C5*,!.(.9qP!!&5*,!"*0;".,!+6,*9,2=,9!09!

.(.9!D?:!4022".;!".!25=,!5.,!-0>!0.-!;,++".;!*011",-P!!&5*,!"*0;".,!+6,*9,2=,9!09!

.(.9!0.-!+10=,22".;!+6,!@512-P!!&5*,!"*0;".,!1,+(1.".;!+5!65*,E!,-(C0+,-!0.-!

K1,K01,-!+5!2,0-!+6,"1!C5**(."+",9P!!?5!5.,!"*0;".,9!0!*,-"5C1,!2"4,P!!/,160K9!

),C0(9,!+6,>!01,!;"129!0.-!),C0(9,!+6,>!01,!>5(.;q)(+!.5.,!9()*"+!+5!@60+!+6,>!

60=,!,BK1,99,-!01,!+6,!C5.9+10".".;!K0++,1.9!+6,>!01,!,BK,C+,-!+5!2"=,!5(+P!!!

!

#6,!45225@".;!C60K+,19!9K,0M!+5!+6,!=01"5(9!@0>9!+6,>!,BK1,99!+6,!+10.9"+"5.!

415*!;"12655-!+5!@5*0.655-R!415*!1,=,02".;!+6,"1!9,C1,+9!0)5(+!@0.+".;!+5!),C5*,!

.(.9R!415*!@60+!+6,>!60=,!+5!90>!0)5(+!9,C1,+9!0.-!+6,!K,1"29!0.-!M".M9!54!M,,K".;!"+!

".!+6,!C5.=,.+R!415*!@60+!+6,>!60=,!+5!90>!0)5(+!+6,"1!)5-",9!+615(;6!5-,9!+5!+6,!

*59+!25=,-!0.-!*59+!60+,-!K01+9R!0.-!@60+!+6,>!60=,!+5!90>!0)5(+!+6,"1!5@.!4,*02,!

"-,.+"+>!+615(;6!K5,*9!+60+!),;".!@"+6!F>5!95>fE!0.-!+6,.!@60+!+6,>!+6".M!0)5(+!

@5*0.655-!".!;,.,102!".!K5,*9!+60+!),;".!@"+6!FK010!9,1!*(d,1fE!0.-!65@!+6,"1!

5@.!,BK,1",.C,!4"+9!".+5!+60+P!!D22!54!+6,9,!0C+"="+",9!1,=,02!65@!+6,"1!,BK,1",.C,9!

60=,!*52-,-!+6"9!+10.9"+"5.P!

! VVU!

! ! ! ! ! u!u!u!

!

75Cj5!09M,-!*,!+5!45225@!6,1!+5!C51.,1!54!+6,!C5.=,.+!),C0(9,!96,!@0.+,-!+5!

+,22!*,!0!9,C1,+P!!&6,!+52-!*,!+60+!96,!@0.+9!+5!),C5*,!0!.(.P!!'+!*(9+!),!95!."C,E!96,!

90>9P!!&6,!09M9!*,!"4!'h=,!+65(;6+!0)5(+!),C5*".;!0!.(.P!!&6,!@09!9(1K1"9,-!@6,.!'!

90"-!.5E!.,=,1P!!F/,15!60!-,!9,1!+0.!2".-5E!D."+0P!!/5-,1!="0d01E!C5.5C,1!;,.+,!-,!+5-5!

,2!*(.-5E!+,.,1!+(!K15K"5!C(01+5E!K5-,1!2,,1fP!!'!@09!965CM,-!+60+!96,!90"-!96,!

@0.+,-!+5!),!0!.(.P!!#6,!5.2>!+6".;!'!C5(2-!09M!6,1!@09G!)(+!-5.h+!>5(!@0.+!

)5>41",.-9E!1,20+"5.96"K9E!25=,i!!F&"fE!96,!+52-!*,E!F/,15!,95!,9!K010!*",.+109fP!!X,'O$

?&($(P*($1'$1.$(P,$0,*.(10,]!

!

H60+!+6,!45225@".;!C60K+,19!-5E!),>5.-!d(9+!1,=,02!+6,"1!+65(;6+9!5.!

@5*0.655-E!"9!0295!;"=,!=5"C,!+5!+6,!+10.9"+"5.9!0.-!+,.9"5.9!54!+6,!)51-,1!),+@,,.!

>5(.;!@5*0.655-!0.-!0-(2+!@5*0.655-P!!Q"M,!+6,!9+51",9!0)5(+!65*,+5@.9E!

2,0=".;!+659,!65*,+5@.9E!0.-!011"=".;!0+!+6,!C5.=,.+!+60+!01,!4"22,-!".451*,-!)>!

+6,"1!)(--".;!@5*0.655-R!+6,!45225@".;!C60K+,19!-"1,C+2>!0)5(+!@5*0.655-!01,!

4"22,-!@"+6!+6,!*,+0K6519!54!65*,E!+10=,2!0.-!C5.=,.+P!!#6,"1!+10.9"+"5.!".+5!

@5*0.655-!"9!-,4".,-!)>!+6,"1!9,.9,!54!+6,"1!2"4,!,BK,1",.C,P!

!

D9!0!8("CM!@01*!(K!5.,!-0>E!'!09M,-!+6,*!+5!*0M,!0!C601+!@"+6!+@5!C52(*.9!

+60+!9,K010+,-!F."k0f!0.-!F*(d,1fE!0.-!'!09M,-!+6,*!+5!@1"+,!-5@.!@60+!*0-,!+6,*!

;"129!0.-!@60+!*0-,!+6,*!@5*,.P!'.!+6,!45225@".;!0C+"="+>E!'!09M,-!+6,!;"129!+5!*0M,!

0!C601+!@"+6!+@5!C52(*.9!-"="-".;!F?"k0f!0.-!FA(d,1fP!!#6,!K(1K59,!54!+6"9!0C+"="+>!

! VVV!

@09!+5!9,,!65@!+6,>!;0=,!=5"C,!+5!+6,"1!+10.9"+"5.!415*!>5(.;!@5*0.655-!+5!0-(2+!

@5*0.655-R!@60+!".!+6,"1!2"4,!@5(2-!+6,>!(9,!+5!-,4".,!+60+!+10.9"+"5.i!!'!0295!

@0.+,-!+6,*!+5!(9,!+6,!C601+!09!0!@0>!+5!+02M!0)5(+!+6,"1!;"12655-!51!@5*0.655-!".!

+6,"1!5@.!+,1*9E!0.-!+5!9,,!@60+!+6,>!.0*,!51!1,4,1,.C,!+5!-,4".,!+6,"1!;"12655-!

0.-!@60+!+6,>!.0*,!51!1,4,1,.C,!+5!-,4".,!+6,"1!@5*0.655-P!

A59+!54!+6,*!90"-!+60+!+6,!*5*,.+9!+60+!*0-,!+6,*!@5*,.!@,1,!@6,.!+6,>!

+65(;6+!0)5(+!+6,"1!4(+(1,E!@6,.!+6,>!+65(;6+!".!@5*0.2>!@0>9E!51!@6,.!+6,>!4,2+!

1,9K5.9")2,P!!A59+!54!+6,*!90"-!+60+!+6,!*5*,.+9!+6,>!4,2+!2"M,!;"129!@,1,!@6,.!+6,>!

*"99,-!+6,"1!K01,.+9E!51!@6,.!+6,>!C1",-E!@6,.!+6,>!K20>,-!@"+6!5+6,1!2"++2,!;"129E!51!

@6,.!+6,>!*"99,-!),".;!65*,P! ! !

#6,>!-,4".,!+6,"1!@5*0.655-E!51!+10.9"+"5.!".+5!@5*0.655-!)>!+6,!

,BK,1",.C,!+6,>!60=,!60-!+615(;6!d5(1.,>".;P!!'.!+6,"1!="220;,9E!"+!"9!.5+!.,C,9901"2>!

+10-"+"5.!+5!2,0=,!>5(1!40*"2>!@6,.!>5(!),C5*,!0!@5*0.R!65*,9!01,!9601,-!)>!

201;,!40*"2",9P!!!#6,>!9,01C6!+6,"1!,BK,1",.C,!451!+6,!@0>!+6,>!"-,.+"4>!+6,*9,2=,9P!!

351!,B0*K2,E!75Cj5!90>9!+60+!96,!"9!C259,1!+5!),".;!0!@5*0.E!),C0(9,!96,!609!

021,0->!9,K010+,-!415*!6,1!40*"2>P!!#6"9!965@9!+60+!+6,>!0295!=",@!+6,"1!d5(1.,>!+5!

0.-!2"4,!0+!+6,!C5.=,.+!09!0!451*!54!".-,K,.-,.C,!0.-!*0+(1"+>!".+5!@5*0.655-!

!

H60+!"9!".+,1,9+".;!"9!+60+!+6,"1!9,.9,!54!;"12655-E!@5*0.655-E!0.-!+6,!42("-!

+10.9"+"5.9!),+@,,.!)5+6!01,!.5+!d(9+!;,.,1"C!-,4"."+"5.9!0.-!0++1")(+,9!0995C"0+,-!

@"+6!,0C6E!51!,=,.!0!45C(9!5.!C60.;,9!".!+6,!)5->E!09!'!@5(2-!60=,!,BK,C+,-P!!

'.9+,0-E!+6,>!01,!+0M,.!-"1,C+2>!415*!+6,"1!2"=,9P!!#6,!45225@".;!C60K+,19G!SO60K+,1!

UUT!/5,*9!0)5(+!*"11519E!SO60K+,1!UVT![-,9!+5!25=,-!0.-!60+,-!)5->!K01+9E!

! VVX!

SO60K+,1!UXT!/5,*9!+60+!),;".!@"+6!Fe5!&5>fE!SO60K+,1!UWT!/5,*9!+60+!),;".!@"+6!

F/010!&,1!A(d,1f!+60+!,BK251,!@60+!"+!+0M,9!+5!),!0!@5*0.E!0.-!SO60K+,1!UYT!Q,++,19!

@1"++,.!+5!+6,*9,2=,9!415*!0!4(+(1,!0;,R!022!9K,0M!+5!+6,!)51-,120.-!),+@,,.!>5(.;!

@5*0.655-!0.-!0-(2+!@5*0.655-E!+6,!K099".;!+615(;6!"+E!0.-!+6,!65K,9!0.-!

"*0;".0+"5.9!54!@60+!@5*0.655-!@"22!),P!

!

!

!

! VVW!

Chapter 11 / Capítulo 11

Espejos

Warm-up Calentamiento

-Write 5 words that -Escribe 5 palabras que

you would use to describe usarías para describirte

yourself a ti misma

! VVY!

%9K,d59!

!

Fa(",15!9,1!(.!C(,1K5!C5*K2,+5f!

! ! 75Cj5E!U\!

!

#6,!45225@".;!0C+"="+>!@09!K20..,-!09!0!@01*N(KP!!%0C6!;"12!1,C,"=,-!0!9*022!

01+"90.!*"1151E!@6"C6!@09!K20C,-!40C,-5@.!5.!6,1!-,9MP!!J,451,!(9".;!+6,!*"1151E!

+6,!2,995.!!

),;0.!@"+6!+6,!1,0-".;!54!+6,!45225@".;!+@5!K5,*9E!+6,!4"19+!)>!'-,0!t"201"k5E!0.-!

+6,!9,C5.-!)>!O6015!3(,.+,9P!!!!

!

O<D?:[!O[A/7%!<?!%&/%][!

!

O(0.-5!C5*K1,!(.!,9K,d5!K010!,2!)0k5!

=5>!0!=,1*,!20!C010!

=5>!0!=,1*,!

K(,9!8(m!5+10!*0.,10!60>!-"C,*,!

8(m!5+10!*0.,10!-,!90),1!8(",.!95>P!!

O0-0!=,L!8(,!-,9K1,.-0!20!C0),L0!!

-,2!4r110;5!-,!2")159!>!-,!65d09!!

>!8(,!20!22,=,!6(,C0!0+")5110-0!

>!20!-,d,!(.!1,K595!022j!(.!*5*,.+5!

20!*"101m!0!259!5d59!C5.!(.!K5C5!!

-,!0.9",-0-!-,!C(1"59"-0-!-,!*",-5!

! VV^!

5!9o25!C5.!C0.90.C"5!C5.!609+j5!

C5.!20!=",d0!0*"9+0-!C511,9K5.-",.+,!

5!0+,.+0!>!9,1"0*,.+,!*"101,*,!!

C5*5!,9,!,B+10k0!=,L!�*"9!5.C,!0k59�!

>!*,!-"1m!*"1r!06j!,9+r9!

9,;(15!

K,.901m!.5!*,!;(9+0!5!K,.901m!

8(,!,90!C010!4(,!20!n."C0!K59")2,!!

>!*,!-"1m!,90!95>!m90!,9!"-,0!

>!2,!95.1,"1m!-r.-5*,!r."*59P!!

!

- '-,0!t"201"k5!SVccWT!

!

%-!:W&$!61(1!(-!&15W!!+6!-(7-X$!9!,1W(-!5$(+!!

!!

%2!,9K,d5!*,!,.41,.+0!,.!(.59!5d59!!

-(159!>!+",1.59!C5*5!*"!*"10-0!!

20!)5C0!1,+10j-0E!20!0*K2"0!41,.+,!!

K2,.0!-,!9(1C59!,!".+,115;0C"5.,9!!

20!04"20-0!.01"LE!259!C"1C(.42,d59!!

01C59!8(,!,.d("C"0.!>!8(,!K,".0.!C0.09P!!

%90!95>!>5E!C5.!*"!1"L0-5!K,25!!

8(,!0.+,9!4(m!.,;15!>!06510!,9!.,;15!!

20!0*K2"0!95.1"90E!,2!2(.01!1,-5.-5!!

>!011(;09!-,!,BK1,9"o.E!-(2C,!,(4,*"9*5!!

! VV_!

SK(,-,9!60C,1+,!(.!2"4+".;T!sC(r.+59!9";259!!

K,1,L590!;10.-j9"*0!8(,!.5!=09!02!;"*.09"5i!!

`%9+10;59!-,!20!="-0!5!-,!+(!="-0v!!

a(,!.(.C0!*r9!9,1r!'+r2"C0E!!

40*590E!!

>0!25!90),9P!!

N!O6015!3(,.+,9!SUZZ_TP!

!

D4+,1E!@,!1,0-!+6,!+@5!K5,*9!5(+!25(-!09!0!C2099E!'!09M,-!+6,*!+5!C"1C2,!+6,!@51-9!

51!K6109,9!+60+!9+(CM!5(+!+5!+6,*E!0.-!20+,1!@,!-"9C(99,-!+6,"1!4,,2".;9!54!+6,!K5,*9P!!

#6,1,!@09!5.,!2".,!+60+!9+(CM!5(+!+5!9,=,102!54!+6,!;"129G!FK(,9!8(m!5+10!*0.,10!60>!

-"C,*,p8(m!5+10!*0.,10!-,!90),1!8(",.!95>if!St"201"k5E!2".,9!WNYT!

#6,>!45(.-!+6"9!".+,1,9+".;!),C0(9,!+6,>!90"-!"+!09M9!0!K1,++>!;55-!8(,9+"5.P!!

](9+!09!@5*,.!2,0=".;!65*,!609!".9K"1,-!1"C6!2"+,10+(1,E!95!609!+6,!0C+!54!@5*,.!

255M".;!".!+6,!*"1151R!95!*(C6!95!+60+!@,!9,,!+6,!*,+0K6519!54!*"11519!,=,1>@6,1,P!

!

#6,!,.6&,.(5"$54!0!@5*0.!@"+6!6,1!5@.!"*0;,!".!+6,!*"1151!"9!0!

*5.(*,.+02!+6".;R!@,!60=,!1,0-!,B0*K2,9!0.-!0.,C-5+,9!54!+6,9,!*,,+".;9G!415*!

I251"0!D.L02-n0h9!5)9"-"0.!*"11519!S-"5#,58*.#'I@*$/5".(,5*$UZ\_TE!+5!$(19+5.h9!

]0.",!9,,".;!6,1!1,42,C+"5.!".!+6,!K,01!+1,,9!SUZX_TE!*"11519!0.-!+6,"1!*,+0K6519!

60=,!4(.C+"5.,-!09!0!@0>!+5!K099E!0!*,,+".;E!0.-!0.!,BK2510+"5.!54!95*,+6".;!-,,K,1!

+60.!d(9+!+6,!"*0;,!S>,+!0295!+6,!-,K+6!54!+6,!"*0;,!"+9,24TP!

!

! VV\!

#5!9,,!@60+!C5(2-!),!K15-(C,-E!2"+,101"2>E!@6,.!9"B+,,.!;"129!C5.415.+!+6,"1!

5@.!"*0;,E!'!9+01+,-!@"+6G!9"B+,,.!+".>!*"11519E!0!4,@!;55-!9"*"2,9!451!".9K"10+"5.E!

+6,!+@5!K5,*!0)5=,!+5!2559,.!+6,*!(K!0.-!+5!-,*5.9+10+,!@60+!0.!5-,!"9E!0.-!+@5!

65(19!+5!@1"+,P!!!D4+,1!-"9C(99".;!+6,!K5,*9E!'!09M,-!+6,*!+5!@1"+,!Y!@51-9!+6,>!

@5(2-!(9,!+5!-,9C1"),!+6,*9,2=,9P!

!

H6"2,!+6,>!)10".9+51*,-!0.-!C01,4(22>!C659,!0.-!,109,-!@51-9!415*!+6,"1!

.5+,)55M9E!'!09M,-!+6,*!65@!*(C6!+6,>!+6".M!0)5(+!+6,"1!)5-",9P!!#6,"1!1,9K5.9,!

@09!5)="5(9G!022!+6,!+"*,E!),C0(9,!@,h1,!02@0>9!".!+6,*P!

$

T:$s=1$(&$6&,5Q"$Q"#5U*$P*?8*5O$W&,$#15U*p$

G:$S&1,5"$',5$&.$6&,5Q"$6"0Q8,("$

!!!

351!4"=,!*".(+,9E!+6,>!0.9@,1,-!+6"9!8(,9+"5.!09!0!@01*N(KE!C5.9"-,1".;!

+6,"1!1,20+"5.96"K!+5!+6,"1!5@.!)5->E!@60+!+6,>!2"M,E!@60+!+6,>!-"92"M,E!65@!+6,"1!

)5->!4,,29!+5!+6,*E!,+CP!

#6,.E!'!09M,-!+6,*!+5!@1"+,!-5@.!+6,!4"19+!4"=,!@51-9!+60+!C5*,!+5!*".-!+60+!

+6,>!@5(2-!(9,!+5!-,9C1"),!+6,*9,2=,9P!

!

D*5.;!+6,!@51-9!@,1,G!!

-&,.*$ $ $ G,'Q,(&"'*$ $ <"#*$&.*$0&K,5$ $ $

G,'Q,(&"'*$ $ *0*?8,$ $ <"#*$&.*$',F"51(*$

H.(,81;,.(,$ $ 6*51F"'*$

! VVZ!

-".1(*$$ $ 5,'Q".'*?8,$

=1.6,5*$ $ P,50"'*$ $ $

!

D4+,1!+6"9E!'!09M,-!+6,*!+5!0.9@,1!+6,!8(,9+"5.!K59,-!".!+6,!4"19+!K5,*G!$5@!

,29,!"9!+6,1,!+5!M.5@!5.,9,24!)(+!+5!255M!".!+6,!*"1151i!!D4+,1!C5.9"-,1".;!+6"9!

8(,9+"5.E!'!+6,.!09M,-!+6,*!+5!;10)!+6,"1!*"11519E!0.-!+5!4".-!0!9K0C,!".!+6,!C5.=,.+!

@6,1,!.5!5.,!,29,!C0.!9,,!+6,*P!!'!09M,-!+6,*!+5!@1"+,!-5@.!,=,1>+6".;!+6,>!9,,E!

K6>9"C022>!0.-!.5+!K6>9"C022>P!!'!09M,-!+6,*!+5!+1,0+!+6,!*"1151!+6,!@0>!+60+!+6,!

K5,+9!".!+6,!,B0*K2,9!@,!1,0-!(9,!+6,"1!*"11519E!65@!(P,B!9,,!+6,*9,2=,9!+615(;6!

+6,"1!*"11519P!!'!09M,-!+6,*!+5!C5.9"-,1!+6,!+6".;9!+60+!K,160K9!5.2>!+6,>!C0.!9,,P!

#6,>!@,1,!=,1>!.,1=5(9!0.-!,BC"+,-!+5!K"CM!(K!+6,!*"11519E!0.-!+6,>!@0.+,-!

+5!6(11>!(K!0.-!;5!(9,!+6,*P!!H6,.!'!;0=,!+6,*!+6,!099";.*,.+E!+6,>!022!965+!(K!0+!

5.C,E!)(+!09!+6,>!@,1,!0)5(+!+5!1(.!5(+!+6,!-551E!'!1,*".-,-!+6,*!+60+!+6,>!.,,-,-!

+6,"1!.5+,)55M9E!95!+6,>!022!10.!)0CME!9+(*)2,-!5.!,0C6!5+6,1!+5!;10)!+6,"1!

.5+,)55M9P!

!

D4+,1!+,.!*".(+,9!54!C259,!".9K,C+"5.E!'!09M,-!+6,*!+5!9@"+C6!0.-!+5!@1"+,!

0)5(+!@60+!+6,>!@"22!9,,!".!4"=,!>,019P!!H6,.!+6,>!1,+(1.,-E!015(.-!Vc!*".(+,9!

20+,1E!,*)011099,-!0.-!20(;6".;E!.5+!0)2,!+5!K(+!+6,!*"11519!-5@.P!!&5*,!;"129!

".9"9+,-!5.!9601".;!+6,"1!5)9,1=0+"5.9!0+!5.C,P!!#6,>!@,1,!965(+".;!5=,1!,0C6!5+6,1E!

90>".;!+60+!+60+!+6,>!@5(2-!9,,!@6"+,!60"1!0.-!@1".M2,9P!!&5*,!90"-!+6,"1!."KK2,9!

@5(2-!C60.;,!960K,E!0.-!+60+!+6,>!@5(2-!),!K154,99"5.029E!0.-!".!25=,P!D2@0>9!".!

25=,P!

! VXc!

!

|(B"E!@65!.51*022>!609!+5!),!K2,0-,-!@"+6!+5!9601,!0.>+6".;E!9+55-!(KE!0.-!1,0-!6,1!

5)9,1=0+"5.9!415*!6,1!.5+,)55M9G!

!

9"0"$0,$+,"$

X"$0,$+,"$6".$01$6*5*$

%"5,.*$B$01$6*?,88"$8*5;"$B$

%1'$"K"'$Q,W&,F"'$

_g&V1$

$

$

$

<6,.!%2,.0!1,0-!6,1!5)9,1=0+"5.9G!

!

!

9"0"$%,$7,"$

9".$&."'$6*?,88"'$8*5;"'$B$

),50"'"'O$(,.;"$&.*$'".51'*$

-5188*.(,O$01$6*5*$,'$5,#".#*$

<,.;"$&."'$"K"'$Q,W&,F"'$B$0,$

7,"$#1[,5,.(,$

N%2,.0!

!

! VXU!

%=,1>5.,!,29,!@09!4,,2".;!+55!96>!+5!9601,E!)(+!4".022>E!04+,1!+6,!5+6,1!;"129!),;;,-!

6,1!+5E!Q(L!9+55-!(K!+5!9601,!6,1!5)9,1=0+"5.9!".!0!=,1>!954+!=5"C,G!

&6,!1,0-!544!6,1!.5+,)55MG!

$

h.$01$5"'(5"$"?',5+":$

=,K*'$.,;5*'$

RK"'$5,#".#*'$#,$6"8"5$0*55".$"'6&5"$B$&.$Q&.("$

C,;5"]$$%1$.*51M$&.$Q"6"$8*5;"$

%1$8*?1"$,'$#,$6"8"5$0*5".$B$8*$&.*$Q*5(,$

h'$#,$6"8"5$5"K"]$

<,.;"$,8$6*?,88"$.,;5"$

<,.;"$#"'$8&.*5,'$,.$8*$6*5*$

_@&M$

$

D4+,1!+6,>!9,++2,-!-5@.!0!2"++2,!415*!@6"9K,1".;!5=,1!,0C6!5+6,1h9!

5)9,1=0+"5.9E!0.-!,-"+".;!+6,"1!5@.!04+,1!6,01".;!+6,!+61,,!=52(.+,,19E!'!09M,-!+6,*!

+5!9+01+!+6,"1!4"19+!K5,*G!+5!@1"+,!0!K5,*!0)5(+!@60+!>5(!9,,!".!+6,!*"1151E!0.-!>5(1!

1,0C+"5.!+5!>5(1!5@.!"*0;,E!2"M,!+6,!K5,+9!".!+6,!,B0*K2,9!@,!1,0-P!

!

H6"2,!+6,!;"129!@15+,E!+6,>!-"-!+6,!(9(02E!C5=,1".;!+6,"1!-,9M9!@"+6!4(22!

)5-",9E!1,9+1"C+".;!@0.-,1".;!,>,9!415*!5+6,1!;"129P!!H6"2,!+6,>!-"-!+6"9!65@,=,1E!

+6,>!@15+,E!1,N@15+,E!,-"+,-E!+51,!5(+!K0;,9E!4"22,-!K0;,9E!+(1.,-!K0;,9!4"22".;!*51,!

K0;,9E!0.-!09!+6,>!-"-!+6"9E!+6,>!09M,-!+6,"1!.,";6)519!451!"-,09!54!@60+!,29,!C5(2-!

! VXV!

),!9,,.!".!+6,!*"1151P!!F'!-5.h+!M.5@fE!5.,!@5(2-!1,9K5.-E!F'!-"-.h+!255M!".+5!>5(1!

*"1151fE!0.-!+6,!8(,9+"5.!@5(2-!),!1,K,0+,-G!Fe,06E!)(+!'!@0.+!+5!M.5@!@60+!e[<!

90@!".!e[<7!*"1151q'h*!d(9+!C(1"5(9fP!!!

'.!+6"9!0C+"="+>E!+6,>!@,1,!,9K,C"022>!K1"=0+,P!![.!0!4,@!5CC09"5.9E!A0-1,!'!

@5(2-!@02M!)>E!0.-!+6,.!/0-1,!]P!@5(2-!@02M!)>!+5!09M!@60+!+6,>!@,1,!@1"+".;!

0)5(+E!0.-!+6,>!@5(2-!022!>,22!".!(."95.E!F?D:Dvvvf!0.-!+6,.!;";;2,E!0.-!d(9+!95!+60+!

+6,!.(.!0.-!K1",9+!@5(2-!.5+!+6".M!'!@09!*0M".;!+6,*!@1"+,!0.>+6".;!+6,>!@5(2-!

4".-!".0KK15K1"0+,!)09,-!5.!+6,!1,0C+"5.!54!+6,!;"129E!'!@09!8("CM!+5!,BK20".!+60+!+6,>!

01,!@1"+".;!0!K5,*!0)5(+!+6,"1!"*0;,!".!+6,!*"1151P!

!

'!1,*".-,-!+6,*!+60+!@,!@5(2-!90=,!Xc!*".(+,9!+5!1,0-!022!54!+6,!K5,*9!0.-!

20+,1!-"9C(99!+6,*E!09!+6,>!1,8(,9+,-!+5!9601,!+6,*!5.2>!+5!+6,!C2099E!)(+!.5+!".!+6,!

,20)510+,!K,1451*0.C,!9,++".;E!@6"C6!@09!),".;!-5.,!451!K1,="5(9!099";.*,.+9P!

!

A"1151!/5,*9!

!

Q5!a(,!t"!,.!,2!%9K,d5G!

! N/51!%2,.0!

9"0"$0,$+,"$

%,$+,"$&.*$Q,5'".*$

45"[,''1".*8O$6".$&.$

-&,.$6"5*MD.$6".$;*.*'$$

Z,$',;&15$+1+1,.#"O$+,"$

! VXX!

E.*$P&018#*#$,.$01'$"K"'$

9".$&.*$(1,5.*$%15*#*$

u!u!u!

$,1,E!Q(L!+02M9!

0)5(+!+6,!4,,2".;!54!*01=,2!0.-!0@,!@6,.!255M".;!0+!5.,h9!5@.!"*0;,!0.-!5)9,1=".;!

"+9!-"44,1,.+!K01+9P!!&6,!),;".9!)>!90>".;E!F$5@!),0(+"4(2!"+!"9!+5!;,+!+5!M.5@!*>9,24vf!!

&6,!90>9!6,1!"*0;,!"9!2"M,!0.!0KK2,!C(+!".!6024E!6,1!2"K9!01,!)15@.E!0.-!"+!255M9!2"M,!

C65C520+,!K0".+9!+6,*P!!$,1!60"1E!96,!90>9E!1,9,*)2,!+1,,!)10.C6,9P!

$

$

H60+!"9!".+,1,9+".;!0)5(+!+6,9,!"9!+60+E!+65(;6!'!*,0.+!451!+6,!099";.*,.+!54!

@1"+".;!0)5(+!@60+!>5(!@"22!9,,!".!Y!>,019!09!K6>9"C02E!@60+!"9!1,=,02,-!".!+6,9,!

,B0*K2,9!54!65@!+6,>!9,,!+6,*9,2=,9!09!@5*,.!".!+6,"1!C5**(."+",9P!!J,451,!+6,>!

9+01+,-!@1"+".;!+6"9!9,C5.-!K5,*E!'!09M,-!+6,*!+5!)10".9+51*!@60+!+6,>!+6".M!@"22!

),!-"44,1,.+!0)5(+!+6,*E!K6>9"C022>!".!Y!>,019P!!Q5(1-,9!90"-!96,!@5(2-!),!+022,1E!)(+!

! VXW!

+60+!6,1!.59,!@5(2-!),!1,--,1P!!bPB$\"&8#$1($?,$0"5,$5,#i!'!09M,-!6,1P!!$,1!0.9@,1!

@09!9"*K2>q+60+!96,h-!),!52-,1E!*r9!9,k51"+0P!!$5@,=,1E!%2,.0!0--,-!+60+!+65(;6!

+6,!.59,!+6".;!C5(2-!),!+1(,E!+6,!,019!01,!+6,!5.,!C5.9+0.+!54!@5*,.h9!)5-",9!+60+!

-5.h+!C60.;,P!!!

)"\$#",'$,+,5B(P1.;$,8',$6P*.;,i!'!09M,-P!

#6,1,!@,1,!9,=,102!1,9K5.9,9E!+6,!)5->!),;".9!+5!C60.;,!0.-!+0M,!451*E!>5(1!

."KK2,9!C60.;,!960K,!0.-!C5251q!0.-!K,5K2,!9+01+!+5!.5+"C,!>5(!*51,E!+60+h9!65@!

>5(!M.5@!>5(!01,!C60.;".;P!!!

#6,>!+52-!*,!+60+!".!Y!>,019E!*59+!54!+6,"1!C60.;,9!@"22!K15)0)2>!021,0->!),!

".!K20C,E!)(+!451!+6,!>5(.;!5.,9E!+6,>!*";6+!),!d(9+!9+01+".;P!

!

351!,B0*K2,E!|(B"!@1"+,9!+6,!K5,*G!

!

9&*.#"$9"0Q5,$01$h'Q,K"$

$

h.$61.6"$*F"'$6&*.#"$6"0Q5,$01$

h'Q,K"O$?&,."$*P"5*$(,.;"$ai$*F"'O$B$

T$8"'$at$*F"'$6&*.#"$0,$015,$

T8$,'Q,K"$',$W&,$,P$

9*0?1*#"$?*'(*.(,]$$h8$5"'(5"$',$

)1M"$0J'$',F"51(*O$

<,.#,5$,8$6&,5Q"$?1,.$["50*#"O$B$$

9".$Q5"[,'1D.$#,$Q5"[,'"5*$#,$Q510*51*]$

! VXY!

$

%2,.0!@09!".9"9+,.+!+60+!96,!@0.+,-!+5!9601,!6,1!K5,*E!)(+!"+!+55M!0!@6"2,!451!6,1!+5!

;0+6,1!+6,!C5(10;,!0.-!C5.+0".!+6,!20(;6+,1!+5!-5!"+P!!3".022>E!96,!1,0-!"+G!

!

9"0"$0,$+,5A$,.$61.6"$*F"'$

$

%,$+,5A$&.*$Q,5'".*$0*B"5O$

9".$&.$Q"6"$#,$*55&;*'O$("#"$

E.*$0&K,5O$B$6".$;*.*'$#,$

=,;&15$*#,8*.(,]$

$

$,1,E!%2,.0!,BK1,99,9!0!9,.9,!54!9+1(;;2,!0.-!+1"(*K6!@6,.!"*0;".".;!+6,!

K,195.!96,!@"22!9,,!".!0!*"1151!Y!>,019!415*!.5@P!!'.!+6,!4,@!,B0*K2,9!+60+!'!60=,!54!

+6,*!"*0;".".;!+6,"1!"*0;,!".!Y!>,019E!"+!"9!*59+2>!-10*0+"C!K6>9"C022>P!!D2+65(;6!

+6,>!90>!+60+!+6,>!@"22!60=,!),C5*,!@5*,.E!0.-!+6,>!@"22!60=,!0!K154,99"5.!0.-!),!

-5".;!95*,+6".;!,29,E!+6,>!0295!90>!+60+!+6,>!@"22!60=,!@1".M2,9P!

Q(L!H1"+,9G!

%1$+1#*$',$15J$*+*.M*.#"$8,.(*0,.(,$

X$0,$'*8#5J$*55&;*'$,.$,8$5"'(5"`$

%1$6*?,88"$',5*$6"5("O$."$8"$'Aj$

@"$W&,$0J'$0,$+*8,$',5$,'$(,.,5$Q*61,.61*$

h.$+,58"$6D0"$',5*$,.$8"'$61.6"$*F"'$

_@&M$

! VX^!

$

#6"9!@01*N(K!0C+"="+>!1,=,02,-!0!25+!0)5(+!@60+!+6,!;"129!+65(;6+!0)5(+!+6,"1!

)5-",9E!9,24N"*0;,!0.-!4(+(1,P!!'+!1,=,029!65@!+6,>!K20>,-!@"+6!*"11519!09!*,+0K6519!

54!)5+6!C5.415.+".;!+6,"1!5@.!"*0;,E!0.-!0295!65"''1.;E!".!+6,!9,.9,!+60+!+6,>!

K1,-"C+,-!+6,"1!"*0;,9!0.-!2"=,9!".!+6,!4(+(1,P!!'+!1,=,029!+6,!4(..>!@0>9!".!@6"C6!

;"129!"*0;".,!@5*0.655-P!

! VX_!

Chapter 12 / Capítulo 12

O Barriga Querida:

Odes to Loved and Hated Body Parts

Warm-up Calentamiento

1. En una hoja de papel, escribe la primera parte de un símil original al

tope de la hoja, y luego termine el símil en el último espacio de la

hoja.

! VX\!

2. Corta la hoja en medio, separando las dos partes del símil, y

escribe #1 atrás de la primera parte, y #2 atrás de la segunda parte

3. Boca abajo, mezcla todas las de #1 y todas las de #2, y escoge uno

de cada uno y lea lo que te sale

Tus labios son / como el repollo (Your lips are like cabbage)

Tus senos son / como pestañas de chanchos (your nipples are like pig’s

eyelashes)

! VXZ!

Tu cabeza es / como el rio amazona (your head is like the Amazon river)

Tus pestañas / son como los chanchos (your eye lashes are like pigs)

Cuando mi pelo esta sucio / es como la estrella (when my hair is dirty, it is

like a star)

! VWc!

R$-*551;*$S&,51#*G![-,9!+5!Q5=,-!0.-!$0+,-!J5->!/01+9!

!

F$5@!*(C6!-5,9!5(1!)5->!M.5@!+60+!@,!M.5@!.5+P!!O0.!

"+!),!C0d52,-!+5!1,=,02!"+9!9,C1,+9if!

! ! ! ! ! ! N/0+!A510E!F$5(9,!54!$5(9,9f!

!

FA"!C(,1K5!,9!(.0!*010="220P!!!

I10C"09!0!:"59!8(,!*,!-"5!!

20!4(,1L0!K010!9,;("1!0!C5.5C,120!*09f!

! ! ! NQ(LE!UY!

!

A0-1,!'E!A0-1,!IP!0.-!'!6(11",-!+5!0!155*!@"+6!0!*51,!9+0)2,!1554!@6,.!"+!

),;0.!+5!10".!95!601-!+60+!+6,!-".".;!155*!@09!;5".;!+5!C5220K9,P!!F%9+,!+,C65!.5!

,9+0!,9+0)2,E!C5.!20!22(="0!9,!=0!C0,1fP!!'!1,*,*),1!6,01".;!+6"9!+@5!>,019!K1"51E!0.-!

+65(;6!"+!609!.,=,1!0C+(022>!4022,.E!+6,!+61,0+!1,*0".9P!!#6,!;"129!@,1,!0+!+6,"1!209+!

-0>!54!9C6552!),451,!+6,!0..5(.C,-!9+1"M,!+60+!@09!9C6,-(2,-!+5!),;".!+5*5115@E!95!

'!@09!025.,!@"+6!A0-1,!IP!0.-!A0-1,!'P!!'!60-!),C5*,!C259,!@"+6!0!;"12!.0*,-!A01C"0!

@65!-1,0*,-!54!),C5*".;!0!20@>,1P!!$,1!40+6,1!60-!9,B(022>!0)(9,-!6,1!0.-!96,!

,=,.+(022>!@,.+!+5!2"=,!@"+6!6,1!0(.+!),451,!C5*".;!+5!+6,!C5.=,.+!".!6,1!,012>!

+,,.9P!!'!+65(;6!0)5(+!A01C"0!@6"2,!A0-1,!'P!0.-!A0-1,!IP!255M,-!5=,1!+6,"1!4".0.C,9!

+5!9,,!65@!K599")2,!"+!@09!+5!)("2-!0!9C6552!5.,!-0>!95!+6,!;"129!@5(2-!.,=,1!60=,!+5!

2,0=,!+6,!C5.=,.+P!!!

! VWU!

#6,!+65(;6+!54!+60+!@,.+!+5!*>!;(+R!"+!9,,*,-!2"M,!0.!0@4(2!"-,0N!9C6552!"9!

+6,1,!5.2>!C60.C,!+5!2,0=,!+6,!C5.=,.+E!@6>!@5(2-!+6,>!;"=,!+6,*!+60+i!!'!09M,-!@6>!

+6,>!@0.+,-!+6,!;"129!+5!60=,!+6,"1!5@.!9C6552P!!F?5>!60>!C590!8(,!.5!2,9!K09,!,.!

,959!C52,;"59f!90"-!A0-1,P!IP!!&6,!90"-!95*,!54!+6,!;"129!60=,!),,.!9,B(022>!0)(9,-!0+!

65*,!),451,!011"=".;!0+!+6,!C5.=,.+E!0.-!+6,.!+6,>!2,01.!+5!K(+!(K!@"+6!"+!".!9C6552P!!

#6,!9C6552!65(9,-!".9"-,!+6,!C5.=,.+!@5(2-!),!0!@0>!+5!+1>!0.-!K1,=,.+!+6"9!

K0++,1.!54!0)(9,E!;"=".;!+6,*!+6,!41,,-5*!+5!2,01.!0.-!1,0-E!@51M!0.-!-1,0*!0)5(+!

+6,"1!4(+(1,P!!'+!9+1(CM!*,!65@!*(C6!+6"9!9K0C,!0.-!+6,!9K0C,!+6,!.(.9!01,!+1>".;!+5!

C1,0+,!@"+6!)01,2>!,.5(;6!*5.,>!"9E!0+!"+9!6,01+E!451!+6,!2"),10+"5.!54!;"129P!!!

!

D+!"+9!C51,E!+6"9!01C6"+,C+(102!)2(,K1".+!54!C2099155*9E!.,@!-,9M9E!C60"19E!

)55M9E!+,0C6,19E!9,,*,-!2"M,!0!1,=52(+"5.01>!K15d,C+!),".;!2,-!)>!+@5!.(.9!@65!

@,1,!5.C,!;"129!".!+6,!90*,!65;01R!0.-!+6,!4";6+!451!0.!02+,1.0+"=,!2"4,!451!;"129h!

*".-9E!C1,0+".;!9K0C,9!+60+!@"22!0225@!+6,*!+5!2"=,!2"=,9!54!C1,0+"="+>E!54!+6,!*".-E!54!

@51M!+60+!"9!+6,"19E!54!2"),10+"5.E!0.-!54!60KK".,99E!609!95!*(C6!+5!-5!@"+6!+6,!)5->P!

#6,!C5.=,.+E!+6,!C25"9+,1,-!0.-!9,C2(-,-!.0+(1,!54!+6"9!9K0C,!K15="-,9!;"129!

@"+6!+6,!5KK51+(."+>!+5!M.5@!0.-!+5!,BK251,!+6,"1!)5-",9P!!J(+!+6,!C525."L".;!451C,!

+60+!609!K1,=,.+,-!@5*,.!415*!),".;!C5.9C"5(9!54!+6,"1!5@.!)5->!0.-!9,B(02"+>!"9!

95!9+15.;!+60+!+6,1,!.,,-!.5+!),!0!9".;2,!*0.!".!+6"9!C5.=,.+!451!+6"9!2,;0C>!+5!),!

02"=,!0.-!@,22P!!

!

! VWV!

#6,!45225@".;!90*K2,9!54!@1"+".;9!C5*,9!415*!0.!5-,N@1"+".;!0C+"="+>E!@6,1,!

'!09M,-!+6,!;"129!+5!@1"+,!5-,9!+5!SUT!0!)5->!K01+!+6,>!25=,!0.-!SVT!0!)5->!K01+!+6,>!

60+,E!+65(;6!;"=".;!65*0;,!0.-!2"4,!+5!)5+6P!

J,25@!01,!90*K2,9!415*!+6"9!0C+"="+>G!

!

$H<!+!&C!7<@>?!0<VA@C><!!

Fe5!95>!C5*5!(.0!4251E!

*(>!6,1*590!,.!9(!d01-j.f!

N759"+0!

!

759"+0!.,=,1!1,022>!45225@,-!+6,!099";.*,.+9E!+65(;6!+6,!0C+(02!099";.*,.+9!

@5(2-E!'!+6".ME!".9K"1,!6,1!+5!@1"+,!+6".;9!54!6,1!5@.!C1,0+"5.P!!&6,!-"-!.5+!@1"+,!0!

4(22!K5,*!451!0.>!54!+6,!5-,9P!!'.9+,0-E!96,!@15+,!5=,1!Vc!9"*"2,9!0)5(+!6,19,24P!!&6,!

@1"+,9!0!25+!0)5(+!;01-,.9P!!'.!+6"9!;01-,.!@6"C6!96,!)1".;9!(K!".!02*59+!,=,1>!9".;2,!

K0;,!54!6,1!.5+,)55ME!96,!90>9!96,!"9!0!425@,1E!@0"+".;!+5!;15@E!51!0!)(++,142>E!

),0(+"4(2!0.-!+10KK,-E!51!),C0(9,!54!6,1!),0(+>E!6,2K".;!5+6,1!425@,19!+5!;15@P!!'.!

022!54!+6,!5-,9E!,9K,C"022>!".!+6,!5-,9!+5!+6,"1!40=51"+,!)5->!K01+9E!+6,1,!+,.-9!+5!),!0!

K20C,!@6,1,!+6"9!)5->!K01+!425(1"96,9E!51!;15@9P!!'+!"9!0!K20C,!@6,1,!+6"9!)5->!K01+!

4(.C+"5.9E!)(+!"+!(9(022>!45225@9!0!*,+0K651!54!425(1"96".;P!!759"+0!609!C659,.!0.-!

C20"*,-!+6,!;01-,.!09!6,1!9K0C,E!)(+!+6,!5+6,1!;"129!C20"*!9K0C,9!09!@,22!".!@6"C6!

+6,9,!)5->!K01+9!*5=,!+615(;6G!+6,!1"=,1E!+6,!4",2-E!,+CP!!#6,9,!)5->!K01+9!),C5*,!

"*K51+0.+E!+6,"1!"*K51+0.C,!"9!-,*5.9+10+,-P!

!

! VWX!

F[-0!0!A"9![d59fE!K51!75Cj5!

!

!

!

!

$,1,E!75Cj5!),;".9!)>!-,9C1")".;!6,1!,>,9!09!),0(+"4(2!0.-!15(.-P!!#6,1,!"9!

95*,+6".;!=,1>!".+,1,9+".;!".!+6"9!K5,*E!),C0(9,!96,!-,9C1"),9!6,1!,>,9!09!6"-".;!0!

=,1>!"*K51+0.+!9,C1,+E!@6"C6!5.2>!96,E!0.-!+6,!1,0-,1!M.5@P!!&6,!"9!,09>!+5!C1>E!)(+!

6,1!,>,9!6,2K!6,1!+5!C5.C,02!+6"9P!!/,5K2,!9,,!6,1!C1>E!)(+!+6,>!"**,-"0+,2>!099(*,!

+60+!"+!*(9+!),!+6,!6,0+E!51!95*,+6".;!,29,P!!H60+!+6,>!-5.h+!M.5@E!96,!90>9E!"9!+60+!

6,1!,>,9!01,!2"M,!1"=,19!+60+!,.+,1!0.-!,B"+!@6,1,=,1!+6,>!C0.P!!'.!+6,!,.-E!96,!;"=,9!

0.!5-,!+5!6,1!,>,9!),C0(9,!6,1!,>,9!01,!@60+!0225@!6,1!+5!9,,!+6,!),0(+>!54!+6,!

@512-E!0.-!+5!9,,!+659,!96,!F25=,9!+55!*(C6fP!

! VWW!

!

A01"0!]59,4".0!0295!@1"+,9!0)5(+!6,1!,>,9!09!0!C5.+0".,1!54!9,C1,+9!".!6,1!5-,E!

F[-0!0!A"9![d59fG!

!

!

A01"0!]59,4".0!0.-!75Cj5!)5+6!@1"+,!0)5(+!+6,"1!,>,9!09!)5+6!652-,19!54!9,C1,+9E!0.-!

09!@60+!2,+9!+6,*!255M!0+!+659,!+6,>!01,!".!25=,!@"+6P!!#6,!+6,*,!54!+6,!,>,9!09!+6,!

*59+!),0(+"4(2!0.-!*>9+,1"5(9!K01+!54!+6,!)5->!"9!9,,.!".!9,=,102!54!+6,"1!K5,+1>P!!

](2"0.0!9601,9!+6"9!".!6,1!F[-0!0!A"9![d59fG!!

!

! VWY!

Q"M,!75Cj5h9!0.-!A01"0!]59,4".0h9!5-,!+5!

+6,"1!,>,9E!%2,.0h9h9!,>,9!K20>!*(2+"K2,!152,9!".!6,1!2"4,P!!&"*"2012>E!+6,>!01,!*,0.+!+5!

9,-(C,!0.-!C0K+"=0+,E!0.-!+5!9,,!+659,!96,!25=,9E!)(+!+6,>!01,!0295!601-!@51M".;E!

1,=,02".;!95*,+6".;!9+15.;G!5,8*0Q*;&,*.(,']$$!

#6,!+6,*,!54!+6,!)5->!K01+9!09!),".;!601-!@51M".;!01,!9,,.!".!5+6,1!5-,9!+5!

)5->!K01+9E!2"M,!A0.(,20h9G!

! VW^!

!

$,1,E!+6,1,!"9!+6,!1,K,0+,-!*,+0K651!54!+6,!1"=,1E!965@".;!65@!+6,9,!;"129!

(9,!+6,!!

;,5;10K6>!015(.-!+6,*!+5!452-!".+5!9"*"2,9!0.-!*,+0K6519!54!+6,"1!)5-",9P!!$,1,E!

96,!90>9!+60+!6,1!60.-9!01,!*,0.+!.5+!5.2>!451!@51M".;!601-E!)(+!+5!*0M,!0*5*+188*'!

54!022!!M".-9P!!!

'.-,4".0)2,E!0.-!09!9+15.;E!+65(;6E!09!+6,!1"=,1!+60+!;10)9!,=,1>+6".;!".!"+9!

1,0C6P!!/5@,1P!

|(B"E!759"+0h9!),9+!41",.-!0.-!C259,9+!".!0;,E!0+!02*59+!UXE!0295!+,.-9!+5!

-"91,;01-!+6,!099";.*,.+9P!!'.!+6"9!C09,E!)5+6!;5+!9+(CM!0+!+6,!9"*"2,9P!!|(B"!

,=,.+(022>!@15+,!0.!5-,!+5!6,1!60"1E!@6"C6!96,!609!+52-!*,!"9!+6,!K1"-,!54!@65!96,!"9E!

)(+!96,!,-"+,-!9,=,102!+"*,9E!4"19+!@1"+".;!0!9,1",9!54!9"*"2,9G!

!

FA"9!9,.59!95.!C5*5!(.!2"*5.!d5;595!>!(.0!.010.d0!*(>!1"C0E!

>!*"!C510Lo.!,9!C5*5!20!*0.L0.0!15d0fP!

!

! VW_!

|(B"E!0+!UVE!"9!+6,!*59+!96>E!0.-!96,!"9!C5.9+0.+2>!*0-,!4(.!54!451!6,1!96>.,99P!!!&5!

@6,.!+6,!5+6,1!;"129!1,0-!+6,9,!209+!9"*"2,9E!+6,1,!@09!0!25+!54!;";;2".;E!0.-!&(90.0!

8("CM2>!9C10+C6,-!"+!5(+!0.-!@15+,!+6"9!5.,G!

!

d%1$Q,8"$,'$?5188*.(,$B$

.,;5"O$B$6&*.#"$0,$?*F"O$

8,$8*?"$+1,.]$

4"5$,'"$,'$81.#"O$B$$

@,$Q,1."$*$6*(*$5*("]$

@,$Q".;"$6*6P"'$B$8,$P,6P"$

95,0*O$Q*5*$W&,$',*$0*'$

-5188*.(,]$

/1.]3$

!

'.!A01(h9!5-,E!96,!;"=,9!65*0;,!+5!6,1!6,0-E!-(,!*59+2>!+5!"+h9!K,14,C+"5.!".!960K,E!

0.-!"+9!10+"5.02"+>G!

! VW\!

!

),*#O!96,!90>9E!B"&$*5,$5"&.#$812,$!"#$0*#,$B"&P!!!A01(!60-!-"9C(99,-!6,1!

C65"C,!54!)5->!K01+!@"+6!+6,!1,9+!54!+6,!;"129P!!H6>!+6,!6,0-i!'!09M,-!A01"),2P!!

-,6*&',$1($#",'$0B$P"0,\"52O$1($(P1.2'O$1($2."\'$(P1.;'$(P*($."$".,$,8',$2."\'O$*.#$1($

6P""','$("$(,88$"5$."(]!!#6,1,!@09!0!K0(9,E!0.-!+6,!5+6,1!;"129!20(;6,-!0+!+6,!

K154(.-"+>!54!9(C6!0!C5**,.+P!!A01"),2!)(1",-!6,1!6,0-!20(;6".;E!0.-!C5.+".(,-!+5!

@1"+,E!C5=,1".;!6,1!96,,+P!

!

A01"0!7590!"9!(9(022>!5.,!54!+6,!8("CM,9+!+5!@1"+,E!0.-!96,!@1"+,9!@"+6!

".C1,-")2,!-,+0"2P!!&6,!+,.-9!+5!-10@!0!25+!54!0++,.+"5.!+5!6,19,24E!0.-!@6,.!'!09M,-!

+6,*!@60+!+6,>!+65(;6+!+6,>!@5(2-!@1"+,!0)5(+E!96,!"**,-"0+,2>!9+01+,-!.0*".;!

! VWZ!

6,1!)5->!K01+9!0.-!90>".;!@6>!+6,>!9+55-!5(+!415*!,=,1>5.,!,29,h9P!!!H6,.!+6,!

@1"+".;!9+01+,-E!96,!@09!60=".;!0!601-!+"*,!C6559".;!0!)5->!K01+P!!'!90+!-5@.!@"+6!

6,1!0.-!09M,-!6,1!+5!-,9C1"),!,0C6!54!6,1!)5->!K01+9E!.5+!d(9+!@6>!96,!+65(;6+!+6,>!

@,1,!),0(+"4(2E!)(+!@6>!+6,>!@,1,!(."8(,E!@6>!+6,>!@,1,!".+,1,9+".;E!@6>!+6,>!

@,1,!@,"1-P!!'!-5.h+!M.5@!@6>!'!+1",-!+5!;,+!6,1!+5!45C(9!5.!+6,!@,"1-E!K,160K9!

),C0(9,!'!+65(;6+!"+!@5(2-!),!0!;55-!C6022,.;,P!!'.!+6,!,.-E!96,!C5(2-!.5+!C6559,!5.,!

9".;2,!)5->!K01+E!95!96,!@15+,!0.!5-,!+5!6,1!@652,!)5->G!

!

R)O$81.#"$B$P,50"'"$6&,5Q"O$'1.$

(1$."$',51*$(*.$?,88*]$

S&,$("#"'$W&1,5,.$(,.,5$Q,5"$

h'$'"8"$0U"$B$.*#1,$Q"#5J$

<,.,5$&.$81.#"$6&,5Q"$6"0"$

h8$W&,$B"$(,.;"]$

="B$6"0"$&.*$Q51.6,'*$',.(*#*$

h.$'&$(5"."O$

S&,$0,$(5*(,.$6".$*0"5$B$Q*61,.61*]$

<,$*#015"$81.#"$6&,5Q"O$,5,'$

@*$?,88,M*$W&,$(,.;"$

h.$01$6&,5Q"$B$,8$1.1;&*8*?8,]$

<,$*0"$0&6P"$Q"5$',5$$

h8$*["5(&.*#"$#,$',5$01$$

@1.#"$B$*#"5*?8,$6&,5Q"]$

! VYc!

!

'!@0.+!+5!)1".;!0++,.+"5.!+5!+6"9!209+!K5,*!)>!A01"0!7590P!!D2+65(;6!"+!*0>!

9,,*!5=,1!+6,!+5KE!2"M,!0.!5=,1!".-(2;,.C,!".!5.,h9!5@.!255M9E!@,!965(2-!45C(9!5.!

+6,!25=,!,BK1,99,-!+5@01-!5.,h9!5@.!)5->P!!'.!0!@0>E!+6,!*,990;,!C5.=,>,-!".!+6"9!

K5,*!"9!0295!1,9"9+".;!,2!(5*(*01,.("!(9(022>!;"=,.!+5!;"129h!)5-",9P!!#6,1,!01,!K20C,9!

+615(;65(+!+6,!K5,*!+60+!,BK1,99!4,*"."9+!C5.C,1.9E!9(C6!09!M.5@".;!0.-!

1,C5;."L".;!5.,h9!5@.!)5->P!!!#65(;6!"+!C5(2-!9,,*!09!+65(;6!96,!"9!90>".;!+60+!

5+6,1!;"129!@0.+!+6,!)5->!96,!609E!+6,1,!"9!.5!9K,C"4"C"+>!@65!96,!"9!0C+(022>!+02M".;!

+5G!"+!C5(2-!),!+5@01-!K5+,.+"02!25=,19E!6(9)0.-9G!Fa(,!+5-59!8(",1,.!+,.,1E!K,15!,!

9525!*j5fP!!D!4,@!2".,9!20+,1E!96,!@1"+,9E!F8(,!*,!+10+,.!C5.!0*51!>!K0C",.C"0f!S+1,0+!

*,!@"+6!25=,!0.-!K0+",.C,TP!!!

!

$H<!<!O<!P<@>?!H?!EC!FG?@PA!YG?!DA!E?!MG=><!

!

F#(!K,25!6(,2,!C5*5!,2!C60.C65f!

! ! ! NQ5(1-,9E!UY!

!

#6,!;"129!60-!*51,!4(.!@1"+".;!0)5(+!-"92"M,-!)5->!K01+9!+60.!0)5(+!25=,-!

)5->!K01+9P!!#6,>!60=,!54+,.!,BK1,99,-!+5!*,!C5.C,1.9!54!+6,"19G!60"1!4022".;!5(+E!0!

C155M,-!+55+6E!41,CM2,9!415*!+6,!9(.E!0!),22>E!60"1!2,;9E!,+CP!0.-!@6,.!"+!C5*,9!(K!".!

10.-5*!C5.=,190+"5.E!"+!"9!(9(022>!.5+!0!+5K"C!54!0*(9,*,.+P!!'.!+6"9!K01+!54!+6,!

0C+"="+>E!+6,>!;5+!+5!)1".;!5(+!022!+6,"1!".9,C(1"+",9!0)5(+!+6,"1!)5-",9!5.!+6,!+0)2,E!

0.-!,99,.+"022>E!K20>!@"+6!+6,*!+615(;6!@1"+".;P!!'.!*59+!C09,9E!+6,>!0C+(022>!,.-,-!

! VYU!

(K!,B0;;,10+".;!+6,!C6010C+,1"9+"C9!54!+6"9!60+,-!)5->!K01+P!!!'4!0!4,@!60"19!@,1,!

4022".;!5(+!".!1,02"+>E!+6,.!".!+6,!K5,*E!)02-!K0+C6,9!C5=,1,-!+6,!6,0-P!!'4!+6,1,!@09!0!

2"++2,!),22>!".!1,02"+>E!+6,.!".!+6,!K5,*E!+6,!),22>!@09!2"M,!0.!509"9!".!+6,!-,9,1+P!

&5*,E!+65(;6E!2"M,!".!+6,!5-,9!+5!25=,-!)5->!K01+9E!1,=,02,-!+6,!)5->!S51!)5->!K01+T!

+5!),!5.C,!0;0".E!0!652-,1!54!9,C1,+9E!2"M,!A01"0!]59,4".0h9G!

!

!

!

! VYV!

'.!+6"9!K5,*E!A01"0!]59,4".0!90>9!+60+!96,!@"96,9!6,1!9C01!@5(2-!;5!0@0>E!

),C0(9,!+6,.!*0>),!+6,!*,*51>!54!+60+!-0>!@5(2-!;5!0@0>!09!@,22P!!#6,!9C01!5.!6,1!

2,4+!2,;!"9!0!*,*51>!54!6,1!C6"2-655-P!

!

A01(!60-!@1"++,.!0)5(+!6,1!6,0-P!!#6,!K5,*!@09!1,20+"=,2>!C5.9,1=0+"=,E!

1,=,02".;!+6,!10+"5.02"+>!54!+6,!960K,!0.-!4(.C+"5.!54!+6,!6,0-P!!351!6,1!5-,!+5!0!

-"92"M,-!)5->!K01+E!96,!C659,!6,1!9+5*0C6G!

!

!

!FJ,22>fE!96,!@1"+,9E!F>5(!01,!

2"M,!0!-1>!509"9E!2"M,!+6,!6(;,!451,9+E!2"M,!0!?"0?"P!!e5(!01,!1"-"C(25(9!),C0(9,!

,=,1>5.,!255M9!0+!>5(E!0.-!>5(!60=,!.5!960*,E!>5(!01,!0!#,'6*5*#*E!0.-!+60+!"9!@6>!

'!-5.h+!2"M,!>5(E!),C0(9,!>5(!01,!(.),010)2,fP!

!

h8,.*$

! VYX!

$

F?01"L!1,9K".;0-0!>!4,0!

-"C6590!+(!02!9,1!09jE!

+",.,9!,2!-5.!-,!52,1!C5909!

-,9-,!*(>!2,d59P!

O(0.-5!+,-!0!20!;1"K,!

#,!K5.,9!*(>!-,2"C0-0!

e!22515.0f!

!

G"6U"$

!

F[-0!0!*"!O0),225!

201;5!>!C09+0k5!

C5*5!*,!C(,9+0!

K,".01+,E!20=01+,!

+5-09!209!*0k0.09P!

O0),225E!

O5*5!8("9",10!8(,!

Ar;"C0*,.+,!+,!6"C",109!

#5-5!25!8(,!>5!+,!60;5!

/010!09"!*,!-,d,9!

#10.8("20!>!09"!-,d5!

:,!K,.901!,.!+"f!

! VYW!

!

$,1,E!75Cj5!0295!1,=,029!+6,!,=,1>!-0>!15(+".,!54!;,++".;!1,0->!451!9C6552E!0.-!

+6,!15(+".,!54!+6,!5+6,1!;"129!09!@,22P!

#6,!45225@".;!9651+!5-,9!)>!Q5(1-,9!0.-!A0.(,20!965@!+6,!

(.C5*451+0)2.,99!54!C60.;".;!)5-",9E!0.-!K(),1+>G!

!

F[6!?01"LE!

5251!-,!C,)5220E!

K518(,!+,.;5!,9K"."2209E!

6(,2,!C5*5!,2!*0.+,8("220f!

!

%*.&,8*$

$

F[-0!0!A"9![1,d09!

[1,d09!201;09!C5*5!,2!C5.,d5!

a(,!,9+09!9",*K1,!C5.*";5!

%.!C(028(",1!2(;01!8(,!*,!,.C(,.+1,!

%1,9!*(>!201;5!C5*5!20!C011,+,10!

#0.!201;5!C5*5!,2!".4"."+5E!

a(,!,1,9!".C5.+15220)2,P!

e!8(,!.5!+,!K(,-5!,9C5.-,1!

%.!.".;(.!2(;01!-,!20!+",110f!

!

! VYY!

#6,9,!5-,9!965@!+6,!1,20+"5.96"K9!54!+6,!;"129!@"+6!+6,"1!)5->!K01+9P!!t02,1"0!

J0-0.5E!90>9G!F%2!C(,1K5!,.!,4,C+5E!.5!.59!K,1+,.,Cj0!609+0!259!0k59!-,2!9";25!8(,!

K09oP!!D(.!."!9(K5.j0*59!(.!60C,1!.5!*,10*,.+,!1,K15-(C+"=5!C5.!m2f!S)1'("51*$#,$

%&K,5,'E!VccZTP!!#6"9!4,,2".;!"9!.,012>!0.C",.+R!"+!,C65,9!@60+!&51P!](0.0!'.,9!-,!20!

O1(L!90"-!0)5(+!6,1!5@.!-,C"9"5.!+5!),!0!.(.!0.-!+6,!2"*"+0+"5.9!+60+!+6,!@512-!

K1,9,.+,-!5.!6,1!*".-!0.-!)5->P!!O,.+(1",9!20+,1E!@,!9+"22!C0.!)01,2>!"*0;".,!0!)5->!

5(+9"-,!54!1,K15-(C+"5.R!0!)5->!+60+!C5.+0".9!M.5@2,-;,E!K2,09(1,E!

K5@,1qK15-(C,9!M.5@2,-;,E!K2,09(1,E!K5@,1q!!0.-!0!C,.+(1",9!20+,1E!;"129!@65!

60=,!.,=,1!,=,.!1,0-!&51!](0.0E!@65!60=,!.,=,1!1,0-!4,*"."9+!+,B+9E!@65!60=,!

9,2-5*!),,.!-"1,C+2>!09M,-!+5!C5.9"-,1!0!-"44,1,.+!0.-!2"),10+,-!4(+(1,!451!+6,"1!

*".-9!0.-!)5-",9E!01,!K15-(C".;!4,*"."9+!+,B+9!C5.C,1.".;!+6,"1!5@.!)5-",9P!!#6,!

9+1(;;2,!+5!2"),10+,!"9!.5+!0!2,01.,-!+6".;R!"+!"9!.0+(102P!!#6,!)5->!M.5@9!@6,.!"+!"9!

),".;!5KK1,99,-R!5(1!*".-9!01,!d(9+!54+,.!+55!5KK1,99,-!+5!2"),10+,!"+P!

J0-0.5!@1"+,9E!F9,!*"10!>!.5!9,!+5C0f!SZTP!!=P,$8""2'$*($P,5',8[O$?&($'P,$#",'$."($

("&6P$P,5',8[P!!#615(;6!@1"+".;E!,9K,C"022>!+615(;6!4"C+"5.E!@,!C0.!1,0C6!+6,9,!K5".+9!

54!,.C(,.+15E!54!+5(C6".;E!+60+!5(1!2"=,9!09!C5.+,B+9!K1,=,.+!(9!415*!-5".;E!51!415*!

),".;!C5.9C"5(9!54!-5".;!"4!@,!60=,!-5.,!"+P!!A(C6!2"M,!10C"02!1,K1,99"5.E!+6,!*59+!

,44,C+"=,!1,K1,99"5.!54!@5*,.!609!),,.!+5!9,K010+,!@5*,.!415*!+6,"1!)5-",9P!!#6,!

C25"9+,1!K15="-,9!0!9,C2(-,-!9K0C,!@6,1,!@,!*0>!),;".!+5!1,)("2-!+60+!9,.9(02!0.-!

".+"*0+,!1,20+"5.96"K!@"+6!5(1!5@.!)5-",9!09!@5*,.P!

!

#6,!)5->!C5*,9!(K!0!25+!09!0!K15*".,.+!+6,*,E!),C0(9,!+6,!;"129!01,!

,BK251".;!+6,"1!)5-",9E!0.-!".!0!9,.9,E!+6,>!60=,!+6,!41,,-5*!+5!-5!95!".!+6,!C5.=,.+P!!

! VY^!

H6,.!'!09M,-!+6,*!"4!2"=".;!6,1,!609!0225@,-!+6,*!+5!,BK251,!+6,"1!)5-",9!*51,E!

+6,>!90"-!+60+!".!+6,"1!65*,+5@.9E!+6,>!@5(2-!*59+!2"M,2>!),!60=".;!C6"2-1,.!1";6+!

.5@P!

!

I15@".;!(KE!*>!40=51"+,!K5,+!@09!/0)25!?,1(-0R!K15)0)2>!),C0(9,!'!+65(;6+!

6,!965(2-!),!*>!40=51"+,!K5,+P!!'.!6"9!K5,*9!+5!@5*,.E!'!+65(;6+!6,!*0-,!+6,*!

),0(+"4(2E!".+,1,9+".;E!-0.;,15(9E!8(",+P!!J(+!".!022!54!+6,9,!K5,*9E!+6,!@5*,.!,B"9+!

451!5.,!+6".;E!+5!),!,0+,.!02"=,E!K01+!)>!K01+E!0.-!".!+6,!8(",+.,99!54!+6"9!+>K,!54!

-,0+6!"9!+6"9!),0(+>P!!&5!"4!@5*,.!@15+,!5-,9!+5!+6,"1!5@.!)5->!K01+9R!"4!@5*,.!

C5*K01,-!+6,*9,2=,9!+5!5."5.9!S2"M,!?,1(-0!-5,9TE!@5(2-!+6,>!),!20>,19!+60+!K,,2,-!

0.-!1,=,02,-!+6".;9i!!H5(2-!+6,>!),!FK0.E!5,6"'(*#"$B$G,#".#"3p!!H5(2-!+6,>!),!

FQ*.!C5*5C".+(10E!)5C0E!9,.59E!C52".09!-,!20!+",110E!="-09E!9(),!,2!C0251E!+,!".(.-0!20!

K2,."+(-E!,2!=",.+5!-,!20!4,C(.-"-0-E!>!,.+5.C,9!9,!".*5="2"L0!+(!C5251!-,!515E!>!

C(0.-5!9,!K1,k015.!+(9!K,8(,k59!=",.+1,9E!20!C"C0+1"L!*51,.0!-,do!9(!8(,*0-(10!,.!

+5-5!+(!-510-5!9"9+,*0!-,!6,*"94,1"59P!D6510E!".+0C+5E!,1,9!0CC"o.!-,!

65*)1,E!*"20;15!1,K,+"-5E!=52(.+0-!-,!20!="-0f!SR#*'$h8,0,.(*8,'O$VWoP!!H5(2-!+6,>!

,B"9+!09!410;*,.+,-!K01+9!54!)5-",9E!(9,4(2!".!+6,"1!2"4,2,99.,99i!

D2"C"0!J51".9M>!".!6,1!C60K+,1!5.!@5*,.h9!1,20+"5.96"K9!+5!+6,"1!)5-",9!".!

2"+,10+(1,!90>9!+60+!@5*,.h9!9,.9,9!54!,BK,1",.C,!0.-!9,B(02"+>!C5*,9!415*!

1,20+"5.96"K9!+5!*,.E!0.-!+60+!0!*09C(2".,N-,4".,-!K(1,!0.-!K099"5.0+,!25=,!0.-!

9,B(02"+>!1,8("1,9!+6,!9"2,.C,!51!-,0+6!54!@5*,.G!

! ! FQ0!K1,;(.+0!-,!$("-5)15!gs"1j09!0!9,1!*(-0!8(,!:"59!+,!-"5!,959!!

! VY_!

5d59ihE!20!C,1+,L0!-,!/0)5!?,1(-0!C(0.-5!09,;(10!8(,!g*,!;(9+0!

C(0.-5!C02209!K518(,!,9+r9!C5*5!0(9,.+,hE!20!"15.j0!-,!J51;,9!02!-,C"1!

,.!,2!T8,QP!8(,!20!*(,1+,!-,!J,0+1"L!t"+,1)5!2,!K,1*"+j0!-,-"C019,!0!

0*0120!9".!,2!1",9;5!-,!9,1!6(*"220-5!>!,2!C(2+5!6"K,1)o2"C5!-,2!0*0.+,!

,.2(+0-5!,.!@*$T0*#*$1.0D+18$#,$T0*#"$C,5+"!9(K5.,.!8(,!,2!

9"2,.C"5!-,!209!*(d,1,9!K(,-,!9,1!".+,1K1,+0-5!C5*5!(.!C0Kj+(25!

,25C(,.+,!-,2!=j.C(25!0*51595f!S)1'("51*$#,$%&K,5,'O$U\YT!

$

A02,!@1"+,19!60=,!60-!0!*5.5K52>!5.!+6,!+6,*,!54!@5*,.h9!)5-",9P!!Q0+".!

D*,1"C0.!@5*,.h9!2"+,10+(1,!0)5(+!+6,"1!)5-",9E!)1,0M9!0@0>!415*!0!C0.5.!54!*,.E!

@65!".!+6,!2"+,101>!-,C2010+"5.9!54!9,B!0.-!25=,E!60=,!,99,.+"022>!,0+,.!0.-!M"22,-!

@5*,.h9!)5-",9R!+6,>!60=,!*0-,!+6,*!,+,1.022>!-,0-E!1,="=,-!5.2>!+5!),!C5*K01,-!

+5!)1,0-E!0.!5."5.E!F(.!K0.!-,!C0-0!)5C0f!S?,1(-0E!R#*$*8$4*.T!

! ! ! ! ! ! u!u!u!

#65(;6!"+!*0>!9,,*!9"*K2,!+5!d(9+!60=,!+6,*!@1"+,!0.!5-,!+5!0!)5->!K01+E!"+!"9!.5+!95!

9"*K2,!"4!@,!C5.9"-,1!+6,!6"9+51"C02!+10d,C+51>!54!+659,!".-"="-(02!)5-",9!K1,9,.+,-!

09!K5,*9!6,1,P!!?5+!95!9"*K2,!"4!@,!C5.9"-,1!+6,!,BK,C+,-!4(+(1,!54!+6,9,!)5-",9E!0.-!

"4!@,!C5.9"-,1!+6,!,BK2510+"5.!54!0!;"12!0.-!6,1!)5->!+5!),!0!+1(2>!1,=52(+"5.01>!

*5*,.+P!!#6,!K5,*9!K1,9,.+,-!6,1,!0)5(+!25=,-!0.-!60+,-!)5->!K01+9E!,B"9+!".!+60+!

1,=52(+"5.01>!,.6&,.(5"R!+6,>!01,!)5(.-2,99!".!"+E!09!+6,>!965(2-!),P!

H60+!.,@!M.5@2,-;,9!-5!+6,>!4".-!".!,BK251".;!+6,!)5->!".!.,@!@0>9R!".!

9(1=,>".;E!+615(;6!5-,9!+60+!K20>!@"+6!*(2+"K2,!"*0;,9E!+6,!,BK,1",.C,!54!+6,!)5->!

0.-!(P,15$,BK,1",.C,!@"+6!(P,15!)5->i!!#6,9,!5-,9!+5!)5->!K01+9!01,!@1"++,.!415*!

! VY\!

*01;".02"L,-!9K0C,9!+65(;6!+6,!,BK,1",.C,!54!+6,9,!)5-",9!01,!C,.+1022>!"*K51+0.+!

451!+6,9,!;"129R!+6,>!01,!@1"++,.!415*!,.;0;".;!+6,9,!".N),+@,,.!9K0C,9!@6,1,!M.,@!

M.5@2,-;,9!01,!45(.-P!!'+!"9!".!,.;0;".;!+6,9,!9K0C,9!54!C1599".;!+60+!+6,!)51-,1N4(22!

K01+9!54!+6,!)5->!01,!1,.-,1,-!)51-,1N2,99E!->.0*"CE!0.-!02"=,!+615(;6!+6,9,!K5,*9P!!

#6,9,!K5,*9!K15="-,!*(C6!*51,!+60.!d(9+!.,@!@0>9!54!90>".;!+6".;9R!*(C6!*51,!

+60.!.,@!@51-9!+5!(9,R!)(+!,.+"1,2>!.,@!)5-",9!0.-!.,@!1,20+"5.96"K9!+60+!C5(2-!),!

C011",-!".+5!@5*0.655-P!

! VYZ!

Chapter 13 / Capítulo 13

Soy la Lluviosa, Soy la Calurosa:

Exploring womanhood through poems that begin

with “Yo Soy”

! V^c!

="B$8*$@8&+1"'*O$="B$8*$9*8&5"'*:!

%BK251".;!@5*0.655-!+615(;6!K5,*9!+60+!),;".!@"+6!Fe5!&5>f!

!

C"$P*B$?&,.*'$B$0*8*'$Q*8*?5*']$$$

=D8"$P*B$Q*8*?5*']$$X$,88*'$'15+,.$#,$0*'6*5*$Q*5*$,8$B"$$

n8"'$uB",'Yo$W&,$P*?1(*.$*$8*$0&K,5$

Nt02",10!J0-0.5E!F$"9+51"0!-,!A(d,1,9f!!

!

T.#$1[$;"1.;$P"0,$1'$#,.1,#$0,$(P,.$H$\188$

P*+,$("$'(*.#$*.#$68*10$0B$'Q*6,O$0*21.;$*$.,\$

6&8(&5,_&.*$6&8(&5*$0,'(1M*_$\1(P$0B$"\.$8&0?,5O$

0B$"\.$?5162'$*.#$0"5(*5$*.#$0B$"\.$[,01.1'($

*56P1(,6(&5,$

! ! ! ! ! NI251"0!D.L02-n0E!FJ51-,120.-9pQ0!315.+,10f!

!

'.!022!54!+6,!0C+"="+",9!K1,9,.+,-!".!+6"9!K15d,C+E!@60+!"9!C,.+102!0.-!,*,1;,.+N!

),>5.-!,BK251".;!0.!".-";,.5(9!51";".E!),>5.-!9+51",9!+60+!1,8("1,!+6,!(9,!54!

*,*51>!0.-!"*0;".0+"5.!".!1,NC1,0+".;!*5*,.+9!".!+6,"1!401N0@0>!65*,+5@.9E!

),>5.-!9K,0M".;!+5!+6,!9K0C,9!0.-!,BK,1",.C,9!@6,1,!;"129!C5*,!54!0;,E!0.-!),>5.-!

.,@!".+,1K1,+0+"5.9!54!;,5;10K6"C!"-,.+"+",9!0.-!+10=,2!15(+,9N"9!0!451*".;!0.-!

-,=,25K".;!Fe5fP!!H6,+6,1!+60+!Fe5f!"9!,BK1,99,-!+615(;6!+6,!".=,.+"5.!54!4,*02,!

K15+0;5."9+9!@65!45225@!0!9"*"201!2"4,!,BK,1",.C,!09!+6,!0(+651E!51!@65!(.-,1;5!0!

+10.9451*0+"5.E!51!@6,+6,1!"+!"9!,BK1,99,-!+615(;6!.0110+"=,9!+60+!1,NC1,0+,!+10=,2!

! V^U!

,BK,1",.C,9!415*!*,*51>!0.-!"*0;".0+"5.E!51!1,=,02!65@!9,C1,+9!01,!+52-!0.-!M,K+!

0+!+6,!C5.=,.+R!+6,1,!"9!02@0>9!0!ge5h!+60+!"9!9+15.;2>!K1,9,.+E!451*".;E!0.-!,*,1;,.+P!!!!!

!

#6"9!K01+"C(201!0C+"="+>N!+5!@1"+,!K5,*9!+60+!),;".!@"+6!Fe5!&5>fN!45C(9,9!

9K,C"4"C022>!5.!+6,9,!Fe5,9fP!!!#6"9!0C+"="+>!1,42,C+9!65@!0(+6519!.,;5+"0+,!022!54!+6,"1!

"-,.+"+",9E!45C(9".;!5.!*88!54!+6,!=,5,'$+6,>!4,,2!+60+!+6,>!01,!51!+60+!+6,>!60=,!

,BK,1",.C,-E!+615(;6!K20>".;!0.-!,BK,1"*,.+".;!@"+6!9,.951>!@51-9!0.-!5)d,C+9P!!

D.-!@6"2,!+6,!ge5h!,*,1;,9!".!022!54!+6,!0C+"="+",9!".!-"44,1,.+!451*9!0.-!C5.+,B+9E!"+!"9!

K(1K59,4(22>!,BK2"C"+!".!+6"9!0C+"="+>P!

!

Q"M,!+6,"1!)51-,19N!+6,!5.,9!+6,>!60=,!C1599,-!K6>9"C022>!0.-!*,+0K651"C022>!

09!@,22!09!+659,!>,+!+5!C1599N!+6,"1!g>5h9h!01,!C5.9+0.+2>!.,;5+"0+,-E!09!@,22!09!+6,"1!

"-,.+"+",9P!!#6,!ge5hN!+6,!C,.+,1!54!0(+5)"5;10K6"C02!@1"+".;N"9!@60+!"9!),".;!

.,;5+"0+,-!".!+6,!K5,*9!+6,>!@15+,!451!+6"9!0C+"="+>P!!#6,!0C+"="+>!),;0.!@"+6!1,0-".;!

+6,!45225@".;!K5,*!)>!%"2"96!ACD1+!09!0!@01*N(KE!(9,-!09!0.!,B0*K2,!451!+6,!;"129!+5!

9,,!+6,!9+1(C+(1,!54!+6,!1,K,+"+"5.!54!Fe5!&5>fP!

!

9A!(AI!6<!&GT?@!

!

&5>!*(d,1!!

&5>!+5-09!209!*(d,1,9!

&5>!(.0!4(,.+,!-,!C1,0+"="-0-!

! V^V!

&5>!(.0!4(,.+,!-,!*010="220!

&5>!(.0!4(,.+,!

&5>!*(C609!K01+,9!-,!(.0!K,195.0!

&5>!,2!,K"+5*,!-,!-5251!>!K20C,1!

&5>!K(10!>!K1,C"590!

&5>!(.!4,.o*,.5!

&5>!(.!,9Kj1"+(!2")1,!

&5>!4,2".0!>!0;1,9"=0!

%9+5>!22,.0!-,!+,*51!

&5>!(.0!4(,.+,!-,!+,*51!!

&5>!9,.9(02!

%9+5>!9(C(2,.+0!-,!C01.,!

&5>!(.0!9"1,.0!9()1,02!

&5>!9(-51!�!&5>!20!9,1K",.+,!

&5>!,2!1"+*5!-,!20!Co2,10!

&5>!,2!1"+*5!-,2!C"C25!

&5>!,2!1,4(;"5!

#,.;5!(.!0K,+"+5!=510L!

&5>!(.0!1,02"-0-!1j+*"C0!

&5>!20!d5>0!,.!C1,0C"o.!

&5>!*(d,1!

%9+5>!08(j!

&5>!

e5!

!

! V^X!

%"2"96!AC!D1+!SVcc_T!

!

D4+,1!C"1C2".;!+6,!@51-9!+6,>!45(.-!".+,1,9+".;E!@,!60-!0!-"9C(99"5.!0)5(+!

-(02"9*9E!@6,1,!'!09M,-!+6,*G!"9!"+!K599")2,!+5!),!+@5!+6".;9!0+!5.C,i!!35(1!+6".;9!0+!

5.C,i!!#@5!5KK59".;!+6".;9!0+!5.C,i!!#6,"1!0.9@,19!@,1,G!B,'P!!H,!+02M,-!0)5(+!+6"9!

451!02*59+!+6"1+>!*".(+,9E!@6,1,!*0.>!54!+6,!;"129!90"-!+60+!"+!"9!K599")2,!+5!60=,!0.-!

,B"9+!".!-(02"9*9!),C0(9,!54+,.!@5*,.!4,,2!*0.>!+6".;9!0+!5.C,!0.-!+6,1,451,!"+!"9!

K599")2,P!!'!09M,-E!\PB$".8B$\"0,.pE!0.-!+6,>!011"=,-!0+!+6,!C5.9,.9(9!+60+!"+!"9!

),C0(9,!@,!01,!d(9+!*51,!C5*K2"C0+,-!0.-!@,!+6".M!*51,P!'!09M,-!+6,*!@60+!+6,>!

+65(;6+!"+!*,0.+!+5!"\.!+659,!"-,.+"+",9E!0.-!@60+!+60+!C5(2-!255M!2"M,i!!759"+0!

K5".+,-!5(+!+60+!K,5K2,!+6".M!;"129!01,!95!9"*K2,E!)(+!+60+!95*,+"*,9!".!C2099E!96,!

C5(2-!),!90-!0.-!60KK>!0+!+6,!90*,!+"*,E!0.-!.5!5.,!1,022>!(.-,19+0.-9!+60+P!!A0.>!

0;1,,-P!

!

D4+,1!+6"9!-"9C(99"5.E!'!09M,-!+6,*!+5!)10".9+51*!0)5(+!022!+6,!-(02"9*9!+6,>!

60=,E!)(+!+5!C5.9"-,1!,9K,C"022>!,2,*,.+02!+6".;9E!2"M,!+6,!+6".;9!+6,>!,.C5(.+,1!

,=,1>!-0>E!),!"+!".!+6,!M"+C6,.E!+6,"1!155*9E!5.!+6,"1!@02M!+5!9C6552E!0+!C6(1C6E!".!+6,!

P&,5(*E!,+CP!0.-!4(1+6,1*51,!+5!C5.9"-,1!+6,!C6010C+,1"9+"C9!+60+!+6,9,!+6".;9!60=,P!!'!

@0.+,-!+6,*!+5!)1".;!+5!2"4,!0.-!;"=,!"*K51+0.C,!.5+!+5!*,+0K6519E!,2,*,.+9!0.-!

9>*)529!+60+!,B"9+!5.2>!".!40*5(9!K5,*9!51!".!5+6,1!K,5K2,9h!,BK,1",.C,9E!)(+!+6,!

5.,9!+60+!,B"9+!".!(P,15'P!!'!@0.+,-!+6,*!+5!(9,!@60+!+6,>!60=,!0.-!+5(C6E!+5!*0M,!

.0110+"=,9!0.-!K5,*9!5(+!54!+6,9,!+6".;9R!0.-!'!@0.+,-!+6,*!+5!),;".!+5!255M!*51,!

! V^W!

C259,2>!0.-!255M!C1,0+"=,2>!S95*,+6".;!+6,>!021,0->!-5T!0+!+6,!+6".;9!0.-!9,.9,9!

+6,>!".+,10C+!@"+6!5.!0!-0"2>!)09"9E!".!+6,"1!-0"2>!C651,9!0.-!15(+".,9P!

H02M".;!015(.-!+6,!155*E!95*,!@15+,!+60+!+6,>!@,1,!0+!5.C,!>(CC0!155+9!

0.-!0+!5.C,!5."5.9E!0+!5.C,!0!65+!-0>!0.-!0+!5.C,!0!C52-!5.,E!0+!5.C,!0!)(++,142>!0.-!

0+!5.C,!(1,55*O$0*5.;!5+6,19P!!D4+,1!0!4,@!*".(+,9!54!)10".9+51*".;E!'!09M,-!+6,*!+5!

@1"+,!022!54!+6,"1!"-,.+"+",9E!-(02"9*9!0.-!C6010C+,1"9+"C9!(.-,1!0!K5,*!+"+2,-E!9"*"201!

+5!%"2"96!ACD1+h9E!Fe5!&5>fP!

J,25@!01,!90*K2,9!54!+6,"1!K5,*9G!!

!

G"6U"G!

!

! V^Y!

!

!

$

%*.&,8*G!

!

!

N75Cj5!),;0.!6,1!K5,*!@"+6!0!9651+!,K";10K6P!!

&6,!90>9!+60+!),".;!0!@5*0.!"9!2"M,!0!),0(+"4(2!

1,2";"5.!+60+!-,9+".>!)209K6,*"9,9P!!75Cj5h9E!2"M,!

*59+!54!+6,!5+6,1!K5,*9!".!+6"9!0C+"="+>E!,BK1,99,9!

0!(."8(,!0.-!155,Q,(1?8,N.,99!".!6,1!

9,24655-p@5*0.655-P!!&6,!0295!C5*K01,9!6,19,24!

+5!.0+(102!+6".;9E!)(+!+6,!(."8(,.,99!54!+60+!ge5h!

"9!@60+!9+0.-9!5(+P!!&6,!90>9!96,!"9!+6,!-"0*5.-!54!

+6,!@512-P!!#6,>!,BK1,99!0!C,.+1"9+!(."8(,.,99!

+60+!+6,>!-5.h+!,BK1,99!".!5+6,1!9"+(0+"5.9P!!351!

75Cj5E!6,1!@5*0.655-!"9!".!6,1!1,20+"5.96"K!+5!

I5-E!09!@,22!09!6,1!(."8(,.,99!+5!6,19,24!09!0!

K,195.!0.-!6,19,24!09!0!@5*0.!

!

A0.(,20!C5*K01,9!6,19,24!+5!+6,!

9K1".;!0.-!@".+,1E!0.-!90>9!96,!"9!)5+6R!

96,!"9!)5+6!9@,,+!0.-!)"++,1E!9(..>!0.-!

960->P!!&6,!90>9!96,!"9!4,"9+>!0.-!

60KK>E!0.-!+60+!"9!d(9+!@65!96,!"9P!

!

! V^^!

!

!

!

h8,.*G!

!

!

$

$

$

$

$

$

$

%2,.0!90>9!+60+!6,1!*0".!-(02"9*!"9!+60+!96,!"9!

)5+6!4(22!54!@01*+6E!>,+!10".>!0+!+6,!90*,!

+"*,P!!!

Q"M,!".!*0.>!54!+6,!5+6,1!,B0*K2,9E!](2"0.0!

@1"+,9!0)5(+!0!425@,1P!!D!9"*"201"+>!'!4".-!".!

*(C6!54!+6,"1!@1"+".;!"9!+60+!+6,1,!"9!0!

*,+0K651!54!0!425@,1N!K,160K9!+6"9!0295!

-,*5.9+10+,9!+6,"1!(.-,19+0.-".;!54!-(02"9*E!

04+,1!022E!@60+!609!*51,!-(02"9*!+60.!0!

425@,1i!!&6,!0295!90>9!+60+!96,!"9!K(1,E!)(+!".!

+6,!9,.9,!+60+!96,!"9!2"M,!@0+,1P!!&5!+6,1,!"9!

*,+0K651!54!@0+,1E!)"1-9!0.-!425@,19P!

!

! V^_!

$

$

$

$

$

%*5&G!

!

!

!

%*58,.,G!

!

A01(!+6".M9!54!6,19,24!09!=,1>!),0(+"4(2P!!Q"M,!

02*59+!022E!96,!C5*K01,9!6,19,24!+5!0!425@,1P!!

&6,!0295!90>9!+60+!96,!"9!+6,!95(1C,!54!022!2"4,E!0!

C20"*!+60+!"9!0+!5.C,!1,2";"5(9E!4,*"."9+!0.-!

C1,0+"=,P!

!

! V^\!

!

!

Q5(1-,9P!

!

!

!

A012,.,h9!K5,*!60-!0!25+!+5!-5!@"+6!+6,!

-(02"+",9!54!2"4,!0.-!-,0+6E!)"1+6!0.-!0;,P!!&6,!

C5*K01,9!6,19,24!+5!9M",9!+60+!01,!95!-01M!

+6,>!01,!25.,2>E!>,+!0295!0!.";6+!4(22!54!9+019P!!

&6,!90>9!96,!"9!)5+6!)0-!0.-!;55-P!!'.!+6,!,.-!

96,!90>9!96,!,B"9+9!@"+6".!022!54!+6,9,!

!

Q5(1-,9!90>9!96,!"9!+6,!@".-P!!$,1!-(02"9*!

"9!95*,@60+!*>+6"C02E!90>".;!96,!"9!)5+6!

,01+6!0.-!@".-E!)5+6!95*,+6".;!+60+!;10)9!

,=,1>+6".;!".!"+9!1,0C6E!>,+!0295!+6,!159,!

+60+!;,+9!C1(96,-P!!J(+E!@6,.!96,!"9!+6,!

@".-E!96,!C011",-!+6,!159,9!5.!6,1!)0CME!

2"M,!0!)(++,142>P!

!

! V^Z!

#6,1,!01,!C5**5.!+6,*,9!".!022!54!+6,9,!K5,*9P!!A0".2>E!+6,"1!9,.9,!54!@65!

+6,>!01,!1,=52=,9!015(.-!+6,!(."8(,.,99!54!+6,"1!2"4,!,BK,1",.C,P!!!%=,.!".!+6,!

C5.=,190+"5.9E!0.-!,9K,C"022>!".!+6,!@1"+".;E!@,!9,,!+6,"1!2"4,!6"9+51>!(.452-".;!".!0!

@0>!+6,>!60-!.5+!>,+!,BK1,99,-!51!,BK251,-!"+G!+615(;6!+6,!.,;5+"0+"5.!54!;,.-,1,-!

Fe5,h9fP!!D2+65(;6!+6,!+6,!K5,*9!@,1,!.5+!-"1,C+2>!51!K(1K59,4(22>!0)5(+!;"12655-!

0.-!@5*0.655-E!+6,>!,.-,-!),C5*".;!+60+P!!!

351!+6,9,!;"129E!@65!01,!401!415*!65*,!0.-!@65!01,!2"=".;!0.-!C5*".;!54!0;,!

".!0.!1#,.(1#*#$[5".(,51M*E!+6,"1!9,.9,!54!@5*0.655-!(.452-9!025.;!+6,!@0>E!".!+6,"1!

5@.!+,1*9P!!#6"9!9,.9,!54!@5*0.655-!0.-!"-,.+"+>!"9!C1,0+,-!025.;!+6,!@0>E!0.-!".!0!

C522,C+,-!,BK,1",.C,!54!2"=".;!".!0!C25"9+,1,-!C5.=,.+P!!'.!+6,!90*K2,9!965@.!0)5=,E!

+6,1,!"9!0.!,BK2"C"+!+,.9"5.!),+@,,.!;"12655-!0.-!@5*0.655-R!0!-,9"1,!+5!-,4".,!

0.-!-,C201,!+6,"1!@5*0.655-P!!$5@,=,1E!@60+!"9!0295!K1,9,.+!"9!+6,!9K0C,!@6,1,!

+6,>!01,!".!+6,!*"--2,!54!+6,9,!+@5!"-,.+"+",9P!!H5*0.655-!"9!.5+!+6,!5.2>!"-,0!51!

"-,.+"+>!,BK1,99,-E!+65(;6R!+6,1,!"9!0295!0!.,;5+"0+"5.!54!65@!+6,9,!"-,.+"+",9!*5=,!

+615(;6!+6,!9K0C,9!".!@6"C6!+6,>!2"=,P!!!

!

#615(;6!+6,!,BK1,99"5.!0.-!.0110+".;!54!-(02"9*9!".!Fe5!&5>f!K5,*9E!+6,>!

0295!1,=,02!+6,"1!,BK,1",.C,9!;5".;!+5!9C6552!".!e(1"*0;(09E!51!+6,"1!"-,.+"+",9!".!

1,20+"5.!+5!+6,"1!51";".9!".!+6,"1!65*,+5@.9P!!'.!95*,!".9+0.C,9E!+6,!Fe5!&5>f!451*!

0225@9!+6,!;"129!+5!-,4".,!+@5!=,1>!K15*".,.+!"-,.+"+",9!0.-!9K0C,9G!@5*0.655-!0.-!

C5.=,.+P!!D.!,B0*K2,!54!+6"9!"9!75Cj5h9!K5,*E!@6,1,!96,!-,4".,9!6,1!;15@".;!9,.9,!

54!@5*0.655-E!)(+!,.-9!+6,!K5,*!@"+6!90>".;E!F&5>!,2!;10.5!-,!*"!:"59fE!H$*0$(P,$

;5*1.$"[$0B$!"#E!0!2".,!@6"C6!9"+(0+,9!+60+!"-,.+"+>!".!6,1!C(11,.+!25C0+"5.G!+6,!

! V_c!

C5.=,.+P!!D!9,.9,!54!@5*0.655-E!+6,.E!"9!6(;,2>!".42(,.C,-!)>!+6,"1!2"4,!".!+6,!

C5.=,.+P!

!

I251"0!D.L02-n0!9K,0M9!+5!+6,!9K0C,!+60+!-(02"9*9!C1,0+,E!,9K,C"022>!451!

@5*,.P!!&6,!C0229!+6"9!FQ0!?(,=0!A,9+"L0f!S-"5#,58*.#'I@*$/5".(,5*o!09!5.,!@6,1,!

+6,!@0>9!".!@6"C6!5(1!"-,.+"+>!09!@5*,.!01,!451*,-!60KK,.9!+615(;6!*(2+"K2,!

@0>9!0.-!"9!C5.9+0.+2>!96"4+".;P!!!F#6,!.,@!*,9+"L0!C5.9+0.+2>!*";10+,9!),+@,,.!

M.5@".;!6,19,24Ef!96,!90>9!0.-!,B"9+9!@"+6".!0.-!*5=,9!+615(;6!F6,1!*(2+"K2,!

9()d,C+"="+",9f!SUccTP!!'!4".-!D.L02-n0h9!10-"C02!4,*"."9+!0KK150C6!+5!"-,.+"+>!

451*0+"5.!0.-!"-,.+"+>N,B"9+".;!(9,4(2!".!+6,!.,;5+"0+"5.!54!"-,.+"+",9!,BK,1",.C,-!)>!

+6,9,!;"129!),C0(9,!2"M,!+6,!@5*,.!D.0L02-n0!9K,0M9!54E!+6,9,!;"129!01,!*01;".02"L,-!

".!*0.>!@0>9E!0.-!.5+!d(9+!+615(;6!;,.-,1P!!D.-!@6,1,09!D.L02-n0!C022,-!+6"9!.,@!

M.5@,-;,!F9601,-!"*0;".0+"5.f!S-"5#,58*.#'I@*$/5".(,5*oE!96,!2,4+!5(+!+6,!=5"C,!54!

@5*,.!?,8"\!6,1!)51-,1E!C1599".;!5+6,1!>,+!9"*"201!)51-,19P!!

!

#6,!Fe5!&5>f!K5,*9!9K,0M!+5!+6"9!9K0C,!@6,1,!0!+6"1-!C(2+(1,E!0!+6"1-!;,.-,1E!

+6"1-!"-,.+"+",9!01,!.,;5+"0+,-P!!#65(;6!+6,!5+6,1!)51-,120.-9!01,!.5+!+55!,BK2"C"+2>!

1,=,02,-!6,1,E!@,!9,,!+6,*E!5.C,!0;0".E!+615(;6!*,+0K651!51!9>*)52P!!#6,!*59+!

,*,1;,.+!"-,.+"+>!".!+6,!Fe5!&5>f!K5,*9E!"9!+6,!4,*".".,!Fe5Ef!0.-!"+!"9!0!g>5h!-,4".,-!

+615(;6!*0d51!,BK,1",.C,9!".!+6,"1!2"4,!6"9+51>E!9(C6!09!2,0=".;!65*,E!+10=,22".;E!0.-!

2"4,!".!+6,!C5.=,.+P!!#60+!+10=,2R!+60+!d5(1.,>E!@6"C6!+6,!4"19+!K01+!54!+6"9!@51M!@09!

-,-"C0+,-!+5E!"9!0.!".+"*0+,!0.-!"*K51+0.+!9";."4",1!54!+6,"1!+10.9"+"5.!".+5!0-(2+!

@5*0.655-R!@51M".;!09!)5+6!*,+0K651!0.-!09!2"+,102P!!#6,!*,+0K651!54!+6,!,K"C!

! V_U!

d5(1.,>!"9!45(.-!+615(;65(+!*(C6!54!+6,"1!@51MP!!%=,.!@6,.!+10=,2!"9!.5+!.0*,-!

-"1,C+2>!51!2"+,1022>E!"+!"9!K1,9,.+P!!351!,B0*K2,E!"4!+6,>!90>!+6,>!01,!@5*,.!),C0(9,!

+6,>!60=,!2,4+!+6,"1!40*"2>!0.-!2"=,!".!+6,!C"+>!54!e(1"*0;(09R!"+!"9!.5+!+6,!C"+>!54!

e(1"*0;(09!+60+!609!K15="-,-!+6,*!+6,"1!@5*0.655-!S),C0(9,!+5!e(1"*0;(09E!+6,>!

01,!d(9+!C5.9"-,1,-!+6,!".-";,.5(9!51K60.9!0+!+6,!O01*,2"+,!C5.=,.+TR!"+!"9!+6,!

d5(1.,>!,*)01M,-!025.,E!2,0=".;!5.,!@512-!451!0.5+6,1E!5.,!"-,.+"+>!".+5!0.5+6,1E!

0.-!".+5!0.!,BK2510+"5.!54!@5*0.655-!+6,>!60-!.5+!>,+!,BK,1",.C,-P!!'+!"9!.5+!

e(1"*0;(09!+60+!;"=,9!+6,*!+6"9!9,.9,E!)(+!+6,!,K"C!d5(1.,>P!!'.!+6"9!@0>E!+6,"1!2"4,!

6"9+51",9!,B"9+!@"+6".!0!K,.-(2(*!),+@,,.!+6,!65*,pd5(1.,>!0.-!+6,!C5.=,.+P!

!

D+!"+9!*59+!9"*K2,E!+6,9,!K5,*9!1,=,02!0!-"9C(99"5.!5.!@5*0.655-R!

-,*5.9+10+".;!@60+!+6,>!+65(;6+!54!@5*0.655-!0.-!54!+6,*9,2=,9!09!@5*,.!0.-!

.5+!".!@60+!),".;!0!@5*0.!*,0.+!+5!+6,"1!C5**(."+>E!+6,"1!9C6552E!+6,!C5.=,.+E!+5!

+6,"1!40*"2",9E!,+CP!)(+!@60+!),".;!0!@5*0.!*,0.+!+5!(P,0]$$'.!95*,!K5,*9E!+6,!

Fe5,h9f!@,1,!-,4".,-!)>!+6,"1!9,.9(02"+>E!2"M,!A01"0!7590h9!K5,*9P$$A01"0!7590!

C5*K01,9!6,1!@5*0.655-!+5!10".E!),C0(9,!"+!C1",9E!96,!90>9P!!D4+,1!96,!C5*K01,9!

6,19,24!+5!9,=,102!.0+(102!,2,*,.+9E!96,!90>9!96,!"9!0!=,1>!9,.9(02!;"12P!!351!6,1E!6,1!

;"12655-!"9!-,4".,-!)>!6,1!2"M,.,99!+5!10".!0.-!425@,19E!0.-!+5!6,1!41,,!9K"1"+!0.-!

9,.9(02"+>P$

!

#6,!C5.=,.+!K20>9!0!*0d51!152,!".!+6,"1!.,;5+"0+"5.!54!Fe5,h9fP!!:5,9!"+9!

C25"9+,1,-!.0+(1,!0225@!+6,*!+5!;15@i!!:5,9!"+!C25"9+,1,-!.0+(1,!;"=,!+6,*!+6"9!9,.9,!

54!9,.9(02"+>E!51!-"-!+60+!9(1;,!),C0(9,!'!09M,-!+6,*!+5!45C(9!5.!,2,*,.+02!+6".;9E!

! V_V!

9,.9(02!)>!.0+(1,i!!'.!*0.>!54!+6,9,E!+6,1,!"9!0!9601,-!+6,*,!54!I5-!0.-!54!60=".;!0!

6";6,1!K(1K59,P!!%2"L0),+6!Q,9+,1E!0(+651!54!F],9(9!".![(1!H5*)9fE!@65!'!*,.+"5.,-!

".!O60K+,1!_!+02M9!0)5(+!+6,!9,.9(02!"-,.+"+>!451*0+"5.!+60+!60=".;!0!1,20+"5.96"K!+5!

I5-!*0>!)1".;P!!D2+65(;6!*,9+"L5!A,B"C5!O"+>!0.-!".-";,.5(9!/,1(="0.!D*0L5.!01,!

.5+!+6,!90*,E!6,1!,BK2510+"5.!54!+6,!1,095.9!0.-!*,-"(*9!+615(;6!@6"C6!>5(.;!

@5*,.!C6559,!0!1,20+"5.96"K!@"+6!I5-!".!0!Q0+".!D*,1"C0.!C5.+,B+!"9!C1"+"C02!451!+6,!

(.-,19+0.-".;!54!+6,9,!>5(.;!@5*,.P!'.!+6"9!@0>E!'!9,,!+6,!4(.C+"5.!54!+6,!C5.=,.+!

.5+!09!C20(9+15K65)"C!9K0C,E!)(+!09!5.,!+60+!0225@9!451!0!*51,!2"),10+".;!C5*".;!54!

0;,!".+5!@5*0.655-P!!D2+65(;6!+6"9!@51M!"9!.5+!0)5(+!.(.9E!S.51!01,!0.>!54!+6,9,!

;"129!.(.9!>,+TE!)(+!0!C1"+"C02!255M!0+!+6,!C5.=,.+!0.-!I5-!"9!.,C,9901>!),C0(9,!*0.>!

),C5*,!-5!,.-!(K!),C5*".;!.(.9E!0.-!*0.>!,BK1,99!+6"9!-,9"1,E!2,0-".;!(9!+5!+6,!

8(,9+"5.G!!H60+!"9!0!.(.i!!D!.(.!"9!60=".;!0!9K,C"02!1,20+"5.96"K!@"+6!;5-P!!D.-!

@6,+6,1!+6,!Fe5,h9f!,BK1,99,-!".!+6,9,!K5,*9!01,!),".;!@1"++,.!),451,!),C5*".;!

.(.9!51!.5+R!+6,>!9K,0M!+5!+60+!9K0C,!".!+6,!01##8,E!1.$?,(\,,.E!@6,1,!;"129!01,!

-,4".".;!@65!+6,>!"*0;".,!),C5*".;P!

!

#6,!*>+6!54!@0.+".;!+5!),C5*,!0!.(.E!+6,!1,20+"5.96"K!@"+6!I5-E!0.-!+6,!2"4,!

+6,>!"*0;".,!09!.(.9E!"9!2"),10+".;E!),C0(9,!".!0!9,.9,E!"+!"9!5(+9"-,!+6,!9+1(C+(1,!54!

1,2";"5.P!H6,.!+6,!.5+"5.!54!C25"9+,1!"9!+0M,.!2"+,1022>E!54!C5(19,!"+!"9!5KK1,99"=,!)(+!

@6,.!"+!"9!+0M,.!09!0!C1,0+"=,!1,20+"5.96"K!@"+6!95*,+6".;!)";;,1!+60.!>5(E!"+!"9!

2"),10+".;E!09!@,!9,,!".!+6,9,!K5,*9P!

#0M".;!+6,9,!;"129!".E!+6,!C5.=,.+!4(.C+"5.9!09!0!40*"2>!09!@,22!09!K15="-,9!0!

K20C,!451!;"129!+5!C5*,!54!0;,!".P!!'+!K15="-,9!0!9K0C,!451!0!(."8(,!9,.9,!54!

! V_X!

@5*0.655-!+5!-,=,25KE!0@0>!415*!40*"2>E!0@0>!415*!+10-"+"5.E!0@0>!415*!51";".P!!

'.!+6,!C5.C1,+,!0)9,.C,!54!,0C6E!+6,>!C1,0+,!+6,"1!5@.P!!D.-!02+65(;6!+6,>!60=,!2,4+!

+6,!9+1(C+(1,!54!+6,"1!5@.!40*"2",9!0.-!C5**(."+",9E!+6,>!,.+,1!0.5+6,1!5.,E!".!

@6"C6!+6,!.(.9!C522,C+"=,2>!10"9,!+6,*!".!+6,!)51-,120.-!54!C5.=,.+!0.-!C25"9+,1P!

#6"9!0C+"="+>E!0!K5,*!+60+!),;".9!@"+6!Fe5!&5>fE!H$T0E!9K,0M9!+5!022!54!+6,"1!

"-,.+"+",9!451*".;!".!+6"9!C5.=,.+E!1,=,02".;!@6"C6!5.,9!+6,>!40=51!5=,1!5+6,19P!!

#6,9,!K5,*9!9K,0M!+5!"-,.+"+",9!+60+!01,!451*,-!0.-!.,;5+"0+,-!415*!+6,!.(1+(1".;E!

,.C259".;!@0229!54!+6,!C5.=,.+E!1,=,02".;!"+9!".+"*0+,!904,.,99!>,+!"+9!K5@,14(2!

)51-,19P!

!

! V_W!

Chapter 14 / Capítulo 14

Así podría ser la

exacta mujer en que soy

y la que quisiera ser: Poems about what it takes

to be a woman

! V_Y!

$

T'U$Q"#5U*$',5$8*$

,V*6(*$0&K,5$,.$W&,$'"B$

B$8*$W&,$W&1'1,5*$',5:$$$$/5,*9!0)5(+!@60+!"+!+0M,9!+5!),!0!@5*0.!

!

D..0),220E!0+!+@,.+>N5.,E!"9!9+01+".;!6,1!4"19+!>,01!54!6";6!9C6552P!!&6,!"9!+6,!

52-,9+!54!+@,2=,!9")2".;9P!!&6,!609!),,.!0+!+6,!P";*5!9".C,!0;,!+@,2=,!51!95E!0.-!96,!

+52-!*,!+60+!*0.>!54!+6,!C25"9+,1,-!.(.9!@,1,!5.C,!;"129!2"M,!6,1!@65!011"=,-!0+!+6,!

C5.=,.+!0+!+6,!90*,!+"*,P!!'!09M,-!6,1!"4!96,!609!,=,1!+1",-!+5!9K,0M!+5!+6,*!+615(;6!

+6,!@0229!51!".!+6,!="9"+".;!155*!@"+6!+6,!@55-,.!)019P!!&6,!90"-!.5E!)(+!+60+!

95*,+"*,9!@6,.!96,!"9!0)5(+!+5!;5!+5!92,,KE!96,!1,*,*),19!+60+!+6,>!(9,-!+5!),!5.!

+6,!90*,!9"-,!09!6,1E!@6"9K,1".;!0.-!@5.-,1".;!0)5(+!+6,!90*,!+6".;9P!!!

D..0),220!60-!021,0->!+10=,22,-!+5!e(1"*0;(09!),451,!,.+,1".;!+6,!P";*5P!!

H6,.!96,!@09!,2,=,.E!0.!52-,1!*0.!".!6"9!Wc9!60-!C5*,!+5!6,1!="220;,!0.-!09M,-!6,1!

40+6,1!"4!6,!C5(2-!*011>!6,1P!!D..0),220!C20"*9!+60+!96,!),;;,-!6,1!40+6,1!+5!9,.-!

6,1!+5!+6,!C"+>!96,!60-!6,01-!0)5(+Ne(1"*0;(09N!@6,1,!96,!C5(2-!@51M!0.-!9,.-!

*5.,>!)0CM!0.-!*0>),!,=,.!;5!+5!9C6552P!!$,1!40+6,1!0;1,,-E!0.-!*0-,!+6,!-0>9N

25.;!+1"K!@"+6!6,1!+5!e(1"*0;(09P!!&6,!90"-!96,!),;0.!C2,0.".;!65(9,9!451!0!40*"2>!".!

+6,!+5@.E!)(+!+60+!"9!@6,1,!+6,!.(.9h!9+51>!K"CM9!(KP!!D!@5*0.!415*!e(1"*0;(09E!

=";"20.+!54!+6,!9"+(0+"5.9!95*,!;"129!4".-!+6,*9,2=,9!".!@6,.!+6,>!011"=,!415*!9*022!

="220;,9E!0KK150C6,-!+6,!.(.9!54!+6,!$5;01!0.-!,BK1,99,-!0!C5.C,1.!+60+!+6,!40*"2>!

D..0),220!@09!@51M".;!451!@0.+,-!+5!K159+"+(+,!6,1P!!D+!+@,2=,E!D..0),220!011"=,-!0+!

+6,!$5;01E!0.-!6,1!9"9+,1!|(B"E!,2,=,.!>,019!>5(.;,1E!011"=,-!0!4,@!>,019!20+,1P!!

! V_^!

D..0),220h9!K01,.+9!0.-!>5(.;,9+!9")2".;9!C0*,!+5!9+0>!0+!+6,!C5.=,.+!451!0!4,@!-0>9!

,.!15(+,!)0CM!65*,!415*!0;1"C(2+(102!@51M!+6,>!45(.-!".!0!.,01)>!+5@.P!!A0-1,!'P!

@09!+02M".;!+5!D..0),220h9!40+6,1E!C5.=".C".;!6"*!+5!9,.-!5.,!54!6"9!-0(;6+,1h9!6,1,N!

D..0),220!0.-!|(B"h9!+,.!>,01!52-!9"9+,1!@65!@09!1,C,.+2>!K15*"9,-!+5!),!*011",-!

544!+5!0!451+>!>,01!52-!*0.!+10=,22".;!415*!#010K5+5!@65!;0=,!+6,"1!40+6,1!0!)5++2,!54!

2"8(51!".!,BC60.;,!451!+6"9!-0(;6+,1E!02+65(;6!+6,!*0.!1,8(,9+,-!+60+!+6,!40*"2>!

90=,!6,1!451!6"*!+"22!96,!+(1.,-!,2,=,.!51!+@,2=,P!

D9!+6"9!C5.=,190+"5.!@09!;5".;!5.E!A0-1,!IP!K(22,-!*,!+5!+6,!9"-,!0.-!90"-!

+60+!+6,!1,095.!t"CM"h9!*5+6,1!-"-!.5+!90>!0!@51-!"9!.5+!+60+!96,!-5,9.h+!(.-,19+0.-!

&K0."96N!"+!"9!+60+!".!+6,"1!C5**(."+>!"+!"9!-"9C5(10;,-!451!@5*,.!+5!2,01.!&K0."96E!

K1,=,.+".;!+6,*!415*!+10=,22".;!),>5.-!+6,!="220;,P!!!

'!45225@,-!A0-1,!IP!+5!0!201;,!01,0!),6".-!+6,!C25"9+,1!@6,1,!C5.9+1(C+"5.!

@51M,19!@,1,!*0M".;!C,*,.+P!!&6,!965@,-!*,!+6,!)2(,K1".+!451!+6,!9C6552!+6,>!

9+01+,-!+5!)("2-!(.+"2!+6,>!45(.-!5(+!+6,>!-"-!.5+!1,C,"=,!+6,!;5=,1.*,.+!;10.+!+6,>!

0KK2",-!451P!!#6,!C5.9+1(C+"5.E!+6,.E!609!60-!+5!;5!925@2>!),C0(9,!+6,>!01,!.5@!

-,K,.-".;!5.!-5.0+"5.9E!@6,.,=,1!+659,!C5*,!+615(;6E!@6"C6E!".!0!+5@.!09!

1,95(1C,N1"C6!0.-!,C5.5*"C022>!K551!09!e(1"*0;(09E!"9!.5+!54+,.P!

'!09M,-!A0-1,P!I!@6>!+6,>!@0.+,-!+6,!;"129!+5!;5!+5!9C6552!".9"-,!+6,!C5.=,.+!

@0229R!+60+!@5(2-.h+!"+!),!),9+!451!+6,*!+5!;5!+5!9C6552!".!+6,!C5**(."+>!0.-!.5+!),!

95!"9520+,-i!!A0-1,!IP!90"-!+60+!+60+!@5(2-!),!"-,02E!)(+!+60+!6511")2,!+6".;9!60KK,.!

+5!+6,*!".!+659,!9C65529P!!<.451+(.0+,2>E!96,!90"-E!*0.>!;"129!60=,!60-!+5!2,0=,!

),C0(9,!+6,>!;,+!".=52=,-!@"+6!)5>9!@65!K099!+6,*!C5C0".,!51!;,+!+6,*!K1,;.0.+P!!

#60+h9!+6,!"15.>E!96,!90"-G!+6,>!2,0=,!65*,!255M".;!451!),++,1!5KK51+(."+",9E!0.-!+6,>!

! V__!

*,,+!@519,!5.,9!".!9C65529!.5!5.,!1,9K,C+9!+6,*P!!A0-1,!'!0.-!A0-1,!Ih9!952(+"5.E!

+6,.E!@09!+5!C1,0+,!0!9C6552!@"+6".!+6,!65;01!@6,1,!+6,>!C5(2-!),!,-(C0+,-E!41,,!54!

0)(9,E!41,,!54!)0-!".42(,.C,E!41,,!54!(.@0.+,-!K1,;.0.C",9P!!!

&C6552E!0+!+6,!*5*,.+E!"9!+6,!5.2>!C60.C,!+6,>!60=,!+5!2,0=,!+6,!65;01R!>,+!".!

+6,!904,!60=,.!+60+!+6,!65;01!0.-!"+9!9+15.;!@0229!K15="-,E!"4!255M,-!0+!*51,!

C1"+"C022>!+60.!d(9+!95*,+6".;!+60+!"9520+,9!51!C5.4".,9!51!K15="-,9!F904,+>fE!+6,1,!"9!

95*,+6".;!*51,!(."8(,P!!!

#6,!C5.=,.+N!".!)5+6!"+9!K6"2595K6>!".!K15="-".;!;"129!0!9K0C,!+5!),C5*,!

,-(C0+,-!0.-!6,02+6>!@5*,.!".!0!904,!,.="15.*,.+E!0.-!".!"+9!K10C+"C02!4(.C+"5.G!0!

9K0C,!@6,1,!9"B+,,.!;"129!9K,.-!0.!,.51*5(9!0*5(.+!54!+"*,!+5;,+6,1E!"*0;".,!

+5;,+6,1E!,0+!+5;,+6,1E!9601,!0!155*!+5;,+6,1E!K10>!+5;,+6,1!0.-!-1,0*!+5;,+6,1!

0@0>!415*!65*,!0.-!40*"2>NK15="-,9!0!(."8(,!9K0C,!451!;"129!+5!-,=,25K!+6,"1!9,.9,!

54!@5*0.655-P!

D.-!@6"2,!+6,!K5,*9!415*!+6,!209+!C60K+,1E!Fe5!&5>Ef!1,=,02!+6,"1!5@.!9,.9,!

54!9,24655-E!@5*0.655-E!C5*K2,B"+",9!+60+!*0M,!+6,*!@65!+6,>!01,!0.-!.0110+,!0!

Fe5f!+60+!"9!9"+(0+,-!".!+6,"1!,BK,1",.C,!54!@65!+6,>!01,E!+6,!K5,*9!54!+6"9!0C+"="+>E!

,.+"+2,-!F/010!&,1!A(d,1f!1,=,02!+6,"1!=",@9!54!0!;,.,102!(."=,1902!-,4"."+"5.!54!

@5*0.655-!@6,1,!+6,>!C5*)".,!+6,"1!K,195.02!,BK,1",.C,!54!@5*0.655-!09!@,22!

09!+6,"1!(."=,1902!K,1C,K+"5.9P!

3,*"."9+9!9C652019!60=,!@1"++,.!0)5(+!C1"+"C02!*5*,.+9G!F.,@!*5*,.+9!54!

".9C1"K+"5.f!SO0..".;E!Y_TP!!#6,9,!K5,*9!1,K1,9,.+E!".!0!@0>E!0!.,@!*5*,.+!54!

".9C1"K+"5.!".!+6,"1!2"=,9!09!@5*,.P!!J,C0(9,!6,1,E!+6,>!+6".M!0)5(+!@5*0.655-!".!0!

@0>!+6,>!90>!+6,>!60=,!.,=,1!+65(;6+!),451,P!

! V_\!

#6,9,!K5,*9!-5C(*,.+!*5*,.+9!".!@6"C6!+6,>!),2",=,!+6,>!60=,!),C5*,E!51!

+60+!+6,>!@"22!),C5*,E!@5*,.E!1,=,02".;!+6,!+10.9"+"5.!09!0!451*!54!+10.9451*0+"5.P!!

A0.>!54!+6,*!"-,.+"4>!+6"9!+10.9451*0+"5.!".!C5.C1,+,!,B0*K2,9!54!@60+!*0M,!

@5*,.R!+6,!+10.9451*0+"5.!),".;!.5+!95!*(C6!0.!"..,1!,*5+"5.02!5.,E!)(+!5.,!

45(.-!".!+6,!)5->!0.-!".!+6,"1!2"M,9!0.-!-"92"M,9P!!

&5*,!+0M,!+6,"1!;,.,102!-,4"."+"5.!54!@5*0.655-!415*!+6,"1!5@.!2"4,!

,BK,1",.C,9P!!351!,B0*K2,E!75Cj5!90>9!+60+!;"129!),C5*,!@5*,.!@6,.!+6,>!2,0=,!

+6,"1!40*"2>R!95*,+6".;!45(.-!".!.,"+6,1!+10-"+"5.02!="220;,!2"4,!.51!".!e(1"*0;(09!

.51!;25)022>E!>,+!),C0(9,!+60+!609!),,.!6,1!,BK,1",.C,E!"+!),C5*,9!6,1!9,.9,!54!65@!

@5*0.655-!"9!1,0C6,-P!!&6,!90>9!+60+!6,1!+10.9451*0+"5.!".+5!@5*0.655-!),;0.!

@6,.!96,!9+5KK,-!*"99".;!6,1!40*"2>!+60+!*(C6P!!#6,1,451,E!451!75Cj5E!6,1!9,.9,!54!

@5*0.655-!"9!155+,-!".!6,1!S0.-!+6,"1T!(."8(,!,BK,1",.C,!0.-!C5.+,B+!54!),".;!

(K155+,-!415*!6,1!40*"2>!0.-!C5**(."+>!0.-!C5*".;!54!0;,!".!6,1!K1,9,.+!C5.+,B+P!

D+!+6"9!0;,E!+6,"1!=",@!54!@60+!"9!1,8("1,-!+5!),C5*,!0!@5*0.!"9!.5+!0!;,.,102!

-,4"."+"5.!54!@5*0.655-E!)(+!+0M,.!-"1,C+2>!+5!+6,"1!2"=,9!0.-!C(11,.+!9+0+,!54!*".-P!!

#6,"1!2"=,9!01,!+6,"1!+6,51>!)09,R!+6,"1!2"=,9!01,!+6,!K5529!54!M.5@2,-;,!415*!@6"C6!

+5!,BK1,99!+6,"1!4,,2".;!54!@5*0.655-P!

#6,>!@,1,!=,1>!".9K"1,-!)>!+6,!K5,*E!F/010!9,1!*(d,1f!)>!D.0!'9+01nE!@6"C6!

+5(C6,9!5.!+6,!.,;0+"=,!09K,C+9!54!),".;!0!@5*0.!".!+6,!@512-E!0.-!@659,!+"+2,!'!

+52-!+6,*!+6,>!C5(2-!(9,P!!F*,!-",15.!*"9!-59!)10L59!-,!*(d,1fE!90>9!+6,!K5,*E!F>!.5!

*,!-"d,15.!C5*5!15*K,1!259!C,1159f!S4*5*$=,5$%&K,5$2".,9!UNVTP!!'!C659,!+6"9!K5,*!

.5+!5.2>!),C0(9,!54!+6,!+6,*,9!"+!)15(;6+!(KE!)(+!),C0(9,!"+!25C0+,-!+6,!9()d(;0+"5.!

! V_Z!

54!@5*,.!".!@5*,.h9!)5-",9E!0.-!(9,-!)5->!K01+9!C1,0+"=,2>!+5!+,22!0!K,195.02!0.-!

(."=,1902!9+51>!0)5(+!),".;!@5*0.P!

!

'.!+6,"1!=,19"5.9!54!+6,!K5,*E!F/010!&,1!A(d,1fE!'!09M,-!+6,*!+5!C6559,!0+!

2,09+!+61,,!)5->!K01+9!+5!+02M!0)5(+!".!+6,!K5,*!0.-!+5!2".M!+60+!@"+6!+6,"1!

-,4"."+"5.9!54!@60+!"+!+0M,9!+5!),!0!@5*0.E!51!54!@5*,.h9!,BK,1",.C,!".!;,.,102P!

!

D..0),20!C659,!+5!@1"+,!0!K,195.02!5.,!54!@6>!96,!+6".M9!96,!"9!0!@5*0.!

021,0->E!"-,.+"4>".;!+6,!+10.9451*0+"5.E!09!'!*,.+"5.,-E!".!1,02!,BK,1",.C,P!

!

&5>!A(d,1!

&5>!*(d,1!C5*5!="1;,.!*01j0!

e5!*,!9",.+5!4,2jL!

e0!95>!*(>!9,k51"+0!K518(,!

#,.;5!-,1,C659!8/(,!-,C"1!

D2;5P!

D!=,C,9!C(0.-5!-";5!02;5E!

Q5!-";5!C5*5!*(d,1P!

/51!,95!*,!9",.+5!9,k51"+0E!

e!C(0.-5!,9+5>!C5.!*"9!

/0K09E!K518(,!95>!20!*0>51!

:,!*"9!6,1*0.59P!

_4"5$T..*?,88*$

! V\c!

!

%*58,.,:$

&5>!A(d,1!

/51!8(,!+,.;5!9,.9(02"-0-!

A,!-",15.!259!)10L59!

/010!-,9+1("1!209!*0209!

O5909P!

A,!-",15.!K",1.09!

D+10C+"=09!K010!60C,1!

&(41"1P!

A,!-",15.!C0),225!201;5!

/010!K01,C,1*,!*r9!

&,.9(02!>!0+10C+"=0!

&5>!*(d,1!9,.9(02!!

e!0+10C+"=0!

!

%*51*$G"'*:$

A,!-",15.!,9+09!*0.59!-,!*(d,1!

/,15!.5!*,!-"d,15.!C5*5!*0.,d01259E!

/,15E!

O5*5!,10!".+,2";,.+,E!

&(K,!C5*5!*0.,d0125!

!

! V\U!

D6510!,9!*(>!6,1*595!

&0),1!C5*5!*0.,d01!!

A"9!K15K"09!*0.59!

!

@&M:$

/010!&,1!A(d,1!

A,!-",15.!*"9!5d59!

:,!*(d,1!

e!*,!-"d,15.!C5*5!*"101!>!C5*K1,.-,1!

A"!="-0P!

e!06510!8(,!6,!0K1,.-"-5!0!

O5.5C,1!,2!*(.-5!

%.+1,!*"9!5d59!59C(159!>!+",1.59!

A,!8("+0.!20!C201"-0-!P!

Q2,=5!20!0.;(9+"0!,.!*"!C510Lo.E!

&"!02;(.!-j0!

e5!K(-",10!+,.,1!209!4(,1L09!>!

%2!=0251!-,!9,;("1!

&".!-,1(*),!

O5*5!*(d,1E!

&,1m!4(,1+,!>!4,2"LE!

Q2,.0!-,!51;(225!-,!9,1!*(d,1P!

!

! V\V!

G"6U":$

:"59!*,!-"5!+5-5!25!8!

&5>!>!,.!,9K,C"02!*"9!

[d59!>!K010!09"!K5-,1!

t,1!,2!*"9+,1"5!8(,!,2!

A,!+",.,!K1,K010-5!

e!0-,*09!20!".+,2";,.C"0!

a(,!;10C"09!0!,225!K(,-5!

O5*K1,.-,1!,2!0*51!8(,!

%2!*,!+",.,P!

&"!>5!K(-",10!C5*K01+"1!

Q0!".*,.90!4,2"C"-0-!8(,!!

Q2,=5!K51!-,.+15!2,9!

:"1j0!8(,!95>!20!*(d,1!

Ar9!4,2"L!-,2!*(.-5!

!

!

!

'90),2G!

A,!-",15.!*"9!!

O0),2259!-,!*(d,1!

e!.5!*,!-"d,15.!C5*5!*0.+,.,125!

!

! V\X!

e!06510!8(,!*,!!

$,!+10.9451*0-5!,.!(.0!!

t,1-0-,10!*(d,1!

!

a(,!C5.!*"!)5C0!95.1j5!

e!60;5!02,;1,9!0!20!;,.+,E!

D!259!+1"9+,9!6(,140.59!>!C5.!

A"9!*0.59!0C01"C"01259!

e!K5.-,12,9!,.!*"9!)10L59!

!

e!09j!259!."k59!9,!22,.01j0.!

:,!02,;1j0!>!09j!K5-1j0!9,1!20!

%B0C+0!*(d,1!,.!8(,!95>!

e!25!8(,!8("9",10!9,1P!

!

#6"9!209+!K5,*!9K,0M9!*51,!+5!+6,!-0"2>!15(+".,9!54!;"129R!+6,!*0".+,.0.C,!54!60"1E!

,+CP!0.-!".!0!9,.9,E!C5(2-!0295!9K,0M!+5!+6,!40C+!+60+!+6,!C5.=,.+!451!022!+60+!"+!

K15="-,9!0.-!022!+60+!"+!"9E!-5,9!.5+!K15="-,!0!9K0C,!5.!),".;!0!;"12P!!'+!609!*0.>!5+6,1!

,2,*,.+9!09!@,22!+65(;6P!!D+!5.,!K5".+E!96,!0295!90>9!+60+!@"+6!6,1!9*"2,!96,!C5(2-!

*0M,!51K60.9!60KK>E!0.-!+60+!6,1!60.-9!C5(2-!C5*451+!+6,*!0.-!652-!+6,*!0.-!

*0M,!+6,*!60KK>P!!'4!+60+!@,1,!+6,!C09,E!96,!90>9E!"4!96,!@,1,!41,,!09!0!@5*0.!+5!-5!

+60+!@"+6!6,1!60.-9!0.-!9*"2,E!+60+!96,!C5(2-!),!+6,!,B0C+!@5*0.!96,!"9!0.-!@5(2-!

2"M,!+5!),P!

! V\W!

!

!

9*50,8*:$

/010!&,1!A(d,1!

A,!-",15.!*"9!51,d09!

/010!K5-,1!5"1!

Q59!C0.+59!-,!259!!

/0d0159!>!209!=5C,9!

:,!209!K,195.09P!

!

&,1!*(d,1!,9!

&,.+"1!20!+,1.(10!8(,!

#",.,9P!

&,1!*(d,1!,9!25!*09!

J,220!8(,!+,.,*59!

!

!

!

%*.&,8*:$

/010!9,1!*(d,1E!

A,!-",15.!*"9!K",1.09!

/010!0.-01!K51!(.!)(,.!C0*".5P!

A,!-",15.!*"9!5d59!K010!

! V\Y!

A"101!209!C5909!*0209!

a(,!60>!,.!,9+,!*(.-5P!

A,!-",15.!*"9!*0.59!

:,!20!,9K,10.L0!K010!

$0C,1!209!C5909!C5.!0*51P!

:"59!*,!-"5!+5-5!25!8(,!

<.0!*(d,1!8(",1,!>!25!8(,!

:,),!+,.,1E!K010!9,1!*(d,1!

$0>!8(,!9,1!*(C65!*r9!

A(d,1!9".!+,*59E!=,1;},.L0E!

e!9,1!(.0!*"9*0!

e!(.0!*(d,1!=,1-0-,10P!

!

$,1,E!A0.(,20!,BK1,99,9!+6,!.,,-!+5!),!+1(,!+5!6,19,24E!0.-!5.,9,24!09!0!@5*0.P!!

#60+!"9!@60+!*0M,9!0!5,*8!@5*0.E!96,!90>9P!

!

%*51*$^"',[1.*:$

/010!9,1!*(d,1!+,.;5!

D2*0!>!C510Lo.P!

:,!*(d,1!>!

%2!*(.-5!8(",1,!

a(,!9,!-"4,1,.+,!

/,15!>5!95>!-,)"2!>!41r;"2P!

! V\^!

&"!02;n.!-j0!>5!K(-,1"0!9,1!2")1,E!

O0*".01!K51!209!0.C609!C022,9E!

&,.+"1!20!C5*K1,9"o.!-,2!*(.-5P!

&"!>5!K(-,1"0!1,0C,125!+5-5E!

t"="1!0!*"!*0.,10E!>!

:,=52=,12,!,2!=,1-51!02!r1)52!C0j-5!

&,!*,!02,;101j0!,2!C510Lo.!>!

O5.!*"9!)10L59!-,!*(d,1!

D)10L01j0!0!*"9!0*";59E!>!

A"!C(,1K5!-,!*(d,1!9,!22,.01j0!-,!02,;1j0!

!

h8,.*:$

/010!&,1!A(d,1!

A,!-",15.!(.!C(,1K5!K010!K5-,1!

75*K,1!209!K01,-,9!>!*(102209!>!+5-5!

[)9+rC(25!8(,!60>!,.!.(,9+109!

t"-09P!

!

A,!-"9+,!(.!C,1,)15!K010!K5-,1!

/,.901!209!C5909!*,d51!>!C5.!

O02*0!>!09j!="="1!,.!(.!*(.-5!

:5.-,!,B"9+0!2"),1+0-P!

/010!9,1!*(d,1!.,C,9"+5!20!!

! V\_!

&(4"C",.+,!4(,1L0!K010!15*K,1!

#5-5!*02!8(,!.59!-,9+1(>,P!

!

a(",15!9,1!K",9!K010!C0*".01!

#5-5!259!2(;01,9!9".!K5-,1!

O0.901*,!>!+,.,1!(.59!K",9!!

J(,.59!K010!C511,1!>!902=01.59!

:,!.(,9+159!,.,*";59P!

!

#6,9,!K5,*9!9K,0M!+5!+6,!)51-,120.-!),+@,,.!;"12655-!0.-!@5*0.655-p51!

>5(.;!@5*0.655-!0.-!0-(2+!@5*0.655-P!!e,+!(.-,1.,0+6!+6"9!*0".!+6,*,!9,=,102!

5+6,1!)51-,120.-9!01,!1,=,02,-P!!'.!+6,9,!K5,*9!+6,>!01,!.5+!5.2>!+02M".;!0)5(+!

+6,*9,2=,9R!+6,>!01,!0295!1,=,02".;!+6,"1!4,,2".;9!0.-!+65(;6+9!5.!@5*0.655-!".!

;,.,102R!C1,0+"=,2>!,BK1,99".;!65@!+6,>!4"+!".!51!-5!.5+!4"+!".+5!+60+!"*0;,P!!:5!+6,>!

)09,!+6,"1!5@.!@5*0.655-!5.!@60+!+6,>!+6".M!0)5(+!@5*0.655-!".!;,.,102i!

!

! ! ! ! ! u!u!u!

!

@*$C&,+*$/1'6*8$h'6"8*5$

!

'+!@09!75Cj5h9!0.-!A01"0!]59,4".0h9!+(1.!+5!C55M!+6,!.";6+!04+,1!+6"9!0C+"="+>P!!#6,>!

@,1,!C55M".;!,012>!0.-!409+N!41>".;!Vc!,;;9!0.-!0)5(+!Yc!K20.+0".9P!!75Cj5!1,C,"=,-!

;55-!.,@9!+5-0>N!96,!@09!9,2,C+,-!5(+!54!,=,1>5.,!,29,!".!6,1!>,01!+5!),!+6,!FC2099!

! V\\!

20@>,1fE!".!0!K15;10*!9+01+,-!)>!+61,,!20@>,19!".!+6,!1,;"5.!@65!@0.+,-!>5(.;!

K,5K2,!+5!),!+10".,-!+5!),!0@01,!54!-5*,9+"C!0)(9,!0.-!+5!1,K51+!"+P!!$,1!d5)!@5(2-!

),!+5!".+,1=",@!6,1!C2099*0+,h9!40*"2",9!5.!+6,"1!40*"2>!2"4,E!09!@,22!09!),!+10".,-!".!

+6,!9+,K9!+5!1,K51+!9(9K,C+,-!0)(9,!"4!96,!M.5@9!54!0!C2099*0+,!),".;!0)(9,-P!!75Cj5!

+52-!*,!+60+!6,1!d5)!@09!=,1>!"*K51+0.+P!!&6,!,BK20".,-!+5!*,!+60+!+6,1,!"9!0)(9,!0+!

022!2,=,29!54!95C",+>E!0.-!96,!+6".M9!+60+!"4!+6,!20@>,19!d(9+!9K,.-!+"*,!".!+6,"1!544"C,9E!

+6,.!+6,>!-5.h+!M.5@!"4!0!9"B+,,.N>,01N52-!;"12!".!6,1!C2099!"9!),".;!0)(9,-P!!75Cj5!

+52-!*,!0)5(+!6,1!-,-"C0+"5.!+5!,.-".;!="52,.C,!0;0".9+!@5*,.!,=,1>@6,1,E!)(+!

+60+!"+!"9!.,C,9901>!+5!9+01+!".!+6,!C2099155*P!!F*"9!C5*K0k,109!,9+0.!0+10K0-09!,.!

9(9!K15)2,*09fE!96,!+52-!*,P!

H,!@09!8(",+E!6(11",-2>!42"KK".;!+6,!K20.+0".9!5.!+6,!41>".;!K0.9!95!+60+!+6,>!C5(2-!

*0M,!"+!+5!C6(1C6!".!+@,.+>!*".(+,9P!!&6,!+6,.!+52-!(9!+60+!96,!;1,@!(K!@"+6!0!

C5(9".!@65!@09!1,K,0+,-2>!10K,-!0+!4"=,!>,019!52-!)>!6,1!(.C2,9P!!$,1!C5(9".!.,=,1!

90"-!0.>+6".;!(.+"2!96,!+(1.,-!,";6+,,.P!

!

! ! ! ! ! u!u!u! !

!

A01;01"+0!0.-!e(1"*0;(09h!?,@!:5*,9+"C!D)(9,!Q0@!

!

#615(;65(+!*>!9+0>E!'!),C0*,!;55-!41",.-9!@"+6!A0-1,!DPE!+6,!K1"510E!@6"C6!"9!5.,!

9+,K!-5@.!415*!+6,!A5+6,1!9(K,1"51P!!&5*,+"*,9!96,!0225@,-!*,!9"+!".9"-,!+6,!

("5."E!@6,1,!'!K1,+,.-,-!'!@09!+6,!/"510!09!K,5K2,!C5*,!+5!9601,!+6,"1!;599"K!0.-!

09M!451!0-="C,P!!#6,!),22!10.;P!!FD=,!*01j0!K(1j9"*0f!P!F9".!K,C0-5!C5.C,)"-5fP!!'+!@09!

! V\Z!

4(..>E!(.+"2!A01;01"+0!C0*,E!),0+!(K!0.-!@"+6!6,1!+61,,!>,01!52-!-0(;6+,1!".!6,1!

01*9P!!A0-1,!IP!+52-!*,!+60+!A01;01"+0!(9,-!+5!@51M!451!+6,!*0".!)0.M!".!+5@.R!+60+!

96,!@09!@,22!M.5@.!0.-!*0-,!0!25+!54!*5.,>P!!#6,.E!96,!90"-E!96,!4,22!".!25=,E!0.-!6,!

*0-,!6,1!8("+!6,1!d5)P!!C"$(,$6*','O$T.1(*E!96,!".+,1d,C+9P!?5@E!6,!),0+9!6,1!,=,1>!

5.C,!".!0!@6"2,E!0.-!96,!C5*,9!+5!+6,!+51.5!451!6,2KP!!J,C0(9,!-5*,9+"C!0)(9,!609!

),C5*,!9(C6!0!)";!K15)2,*!".!e(1"*0;(09E!+6,!C"+>!*0-,!0!.,@!20@!+60+!9+0+,9!+60+!

*,.!C0.!;5!+5!d0"2!451!(K!+5!0!>,01!"4!+6,>!6"+!0!@5*0.!(\16,P!!!

! ! ! ! u! u! u!

!

#6,!65K,9E!-1,0*9!0.-!"*0;,9!+60+!+6,!;"129!"*0;".,!@5*0.655-!+5!),E!".!0!

@0>!1,d,C+!+6,!.,;0+"=,!,BK,1",.C,9!54!4,*"."."+>!+60+!+6,>!60=,!@"+.,99,-!".!+6,"1!

2"=,9P!!#6,!@0>!+6,>!"*0;".,!+6,!+10.9"+"5.!09!@,22!09!?,1.;!54!@5*,.E!-,=,25K9!

@"+6".!0.!".+,19,C+"5.!54!1,9"9+0.C,!+5!@60+!+6,>!60=,!@"+.,99,-!0.-!0.!,BK1,99"5.!

54!+6,!+>K,!54!@5*,.!+6,>!65K,!+6,>!@"22!),C5*,P!

! VZc!

3(22!H5*,.E!gS&,51#*$X"Y$Z,'#,$,8$/&(&5"E!0.-!95*,!O5.C2(9"5.9!

$

dT$+,6,'$,5,'$0&K,5$'1.$'*?,53$$$

n'"0,(10,'$B"&$*5,$*$\"0*.$\1(P"&($2."\1.;$B"&$*5,$*$\"0*.o$

$ $ _%*.&,8*$

!

d<P,$0,0"5B$"[$"QQ5,'',#$Q,"Q8,$6*.."($?,$(*2,.$*\*B]$$T.#$["5$'&6P$Q,"Q8,$5,+"8($1'$

*8\*B'$*.$1.6P$?,8"\$(P,$'&5[*6,3$

$ $ _)"\*5#$v1..O$irrcie$

!

!Xc'.!+6"9!".6,1,.+2>!4,*".".,!9K0C,E!0@0>!415*!40*"2>!0.-!

K20C,9!54!51";".E!+6,!9,=,.+,,.!;"129!54!%2!$5;01!20!J(,.0!%9K,10.L0!01,!C1,0+".;!

95*,+6".;!),>5.-!d(9+!.5+,)55M9!4"22,-!@"+6!@1"+".;P!!'.!+6,!K15-(C+"5.!54!+6,9,!

*>+69E!4"C+"5.!K",C,9!0.-!K5,+1>!+60+!+6,>!)5+6!@1"+,!09!@,22!09!2"=,!5(+E!+6,>!1,=,02!0!

C,1+0".!Q0+".!D*,1"C0.!0.-!4,*"."9+!,BK,1",.C,!+60+!)5+6!.,;5+"0+,!0.-!+10.9C,.-!

+6"9!)51-,1N".451*,-!K20C,P!!'.!95*,!C09,9E!+6,"1!@1"+".;!1,=,029!0!9+1(;;2,!+5!;"=,!

+6,"1!(K155+".;!+5!+6,!C5.=,.+!0!6";6,1!K(1K59,!0.-!1,095.E!9(C6!09!Q(LG!!'.!C60K+,1!

_E!Q(L!".=,.+,-!0!*>+6!@6,1,!0!;"12!)>!6,1!90*,!.0*,!@09!;"=,.!0!9K,C"02!+09M!+5!

"22(*".0+,!+6,!@512-!".!+6,!K20C,!54!0!->".;!*55.P!!$,1!40+6,1E!+6,!b".;E!"9!0.;,1,-!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!VZ!l"..E!$5@01-P!FD!/,5K2,h9!$"9+51>!54!+6,!<."+,-!&+0+,9f!VccY!Xc!t01"5(9!-10@".;9!+0M,.!415*!;"129h!.5+,)55M9!

! VZU!

)>!+6"9!0.-!9,.-9!6,1!+5!-",!".!0!C259,-!0.-!25CM,-!155*!401!0@0>!@6,1,!96,!*(9+!

1,*0".!(.+"2!+6,!209+!-0>!54!6,1!2"4,P!!!

'.!+6"9!@0>E!Q(L!"9!2"=".;!5(+!+6,!*>+6!96,!609!C1,0+,-R!+6"9!"9!+6,!9+51>!96,!

609!451*,-!015(.-!@6>!96,!"9!6,1,P!!&6,!"9!C1,0+".;!.0110+"=,9!015(.-!+6,!

C"1C(*9+0.C,9!54!6,1!2"4,!0.-!C5.9,8(,.+2>!"*0;".".;!0!-"44,1,.+!4(+(1,E!5.,!+60+!

K20>9!5(+!".!6,1!+,1*9P!!!

!

H6,+6,1!"+!"9!+615(;6!*>+6NC1,0+"5.!51!!!

/5,+1>E!+6,!9+51",9!+60+!+6,9,!;"129!60=,!K15-(C,-!9K,0M!+5!

d(9+!+60+G!+6,!1";6+!+5!+,22!+6,"1!5@.!9+51>!+615(;6!+6,!*(2+"K2,!

=5"C,9E!2,.9,9!0.-!20>,19!+6,>!(9,E!0.-!+6,!"*0;".".;!54!0!

)51-,12,99!0.-!02+,1.0+"=,!4(+(1,E!@6,1,!+6,>!+0M,!+6,"1!2"4,!

6"9+51",9!0.-!.0110+,!+6,*!+5!4"+!+6,"1!-1,0*9!0.-!65K,9P!!!

J,.,-"C+!D.-,195.!10"9,9!+6,!8(,9+"5.G!@60+!M".-9!54!9K0C,9!-5!@,!C1,0+,!@6,.!@,!

"*0;".,!+6,*i!!301!0@0>!415*!0.!".-";,.5(9!65*,!0.-!40*"2>!0.-!(K155+,-!+5!0!

C25"9+,1,-!C5.=,.+!".!0!*,9+"L5!+5@.E!@60+!"-,.+"+",9!-5!+6,>!451*i!!'.!-"9C(99".;!

+6,!1,20+"5.96"K!),+@,,.!)51-,19!0.-!.0+"5.02!"-,.+"+>E!D.-,195.!099,1+9!+6,!

C5.9+1(C+,-!.0+(1,!54!.0+"5.655-E!0225@".;!(9!+5!,B0*".,!+6,!K599")"2"+>!54!

F"*0;".,-!C5**(."+",9fP!!#6,!)51-,19E!9K0C,9!0.-!C5**(."+",9!+60+!+6,9,!;"129!

,BK,1",.C,!K15="-,9!+6,!-"9C(99"5.!54!F"*0;".,-!C5**(."+",9f!@"+6!*51,!20>,19!54!

-,K+6E!".!+60+!.5+!5.2>!-5,9!+6,"1!C5.-"+"5.!0225@!(9!+5!,B0*".,!+6,!C5.9+1(C+,-.,99!

54!;,5;10K6>E!"-,.+"+>!0.-!)51-,19!+60+!60=,!2,-!+6,*!+5!+6"9!9601,-!9K0C,E!)(+!+6,>E!

+615(;6!@1"+".;E!01,!,.;0;,-!".!0!->.0*"C!,BK2510+"5.!54!+6,"1!5@.!"*0;".,-!

!

! VZV!

C5**(."+>E!1,-,4".".;!0.-!1,C5.9+1(C+".;!+6,"1!9K0C,!09!+6,>!*0M,!+6,!+10.9"+"5.!

415*!>5(.;!@5*0.655-!+5!0-(2+!@5*0.655-P!!!

!

!

#6,>!0295!+0M,!+6"9!-"9C(99"5.!+5!0!*51,!K1545(.-!

2,=,2!".!+60+!+6,>!01,!-,02".;!@"+6!*0.>!"*0;".,-!

C5**(."+",9P!!'!),;0.!+6"9!@51M!)>!09M".;E!P"\$0*.B$

P"0,'$*5,$1.$(P1'$9*'1(*p$$)"\$0*.B$5""0'$0*2,$&Q$

(P1'$".,$8*5;,$5""0$(P*($(P,B$*88$'P*5,p$$)"\$0*.B$

P"0,("\.'$0*2,$&Q$(P1'$.,\$Q8*6,O$,8$)";*5p!!#6,!

0.9@,1!+5!022!54!+6,9,!"9!0*.BP!!#6,>!C011>!+6,"1!65*,+5@.9!0.-!+6,"1!d5(1.,>9!@"+6!

+6,*E!.(1+(1".;!+6,*!".!+6"9!K20C,!+60+!609!*0-,!+6,"1!,BK,1",.C,!C522,C+"=,E!1,N

@1"+".;!0.-!1,N"*0;".".;!+6,!@0>!+6,"1!d5(1.,>9!60=,!K20>,-!5(+!0.-!+6,!@0>!+6,>!

"*0;".,!+60+!+6,>!@"22!K20>!5(+P!!H60+!C5**(."+",9!01,!),".;!C1,0+,-!+60+!+10.9C,.-!

+6"9!@022!),+@,,.!C5.=,.+!0.-!C25"9+,1N!0+!5.C,!95!+6"CM!0.-!0+!5.C,!95!+6".N!+60+!

9,K010+,9!.(.9!0.-!;"129E!)5+6!54!@65*!9601,!0!6"9+51>!9,K010+,-!5.2>!)>!0!9".;2,!

C65"C,G!+659,!@65!60=,!C659,.!+5!),C5*,!.(.9E!0.-!+659,!@65!60=,!.5+!>,+!*0-,!0!

C65"C,i!!J(+!09!@,!9,,E!*0.>!9+51",9!4"22!+6"9!8(,9+"5.P!!

! !

!

!

!

'!),;0.!+6"9!@"+6!0!C5.9"-,10+"5.!54!C1"+"C02!

!

!

! VZX!

)51-,1!+6,51>!),C0(9,!54!+6,!.,@!9K0C,9!0.-!=5"C,9!+60+!01,!C1,0+,-!@6,.!@,!

C6022,.;,!0.-!-,4>!+6,!C5.9+1(C+,-!*0K9E!;,5;10K6",9!0.-!"-,.+"+",9!@,!01,!)51.!

".+5!9"*K2>!)>!+6,!.0+(1,!54!5(1!,BK,1",.C,9!0.-!+6,!@0>!@,!C6559,!0.-!01,!*5=,-!

+5!.0110+,!+6,*P!!H60+!C5**(."+",9!-5!+6,>!C5.9+1(C+!(K5.!+6,!5.,9!+6,>!60=,!2,4+!

),6".-i!#6,!9"B+,,.!;"129!0.-!+@,.+>N+@5!C25"9+,1,-!.(.9E!415*!+6,!*5*,.+!+6,>!

,*)01M!5.!+6"9!d5(1.,>!+60+!+6,>!-,4".,!09!0!C5*".;N54N0;,!*5*,.+!54!

".-,K,.-,.C,E!),;".!+5!-,=,25K!@60+!&5d0!C0229!+6,!FC1"+"C02!;,5;10K6"C!

"*0;".0+"5.fE!@6"C6!1,C5.C,K+(02"L,9!C5**(."+",9h!9K0C,!0.-!;,5;10K6>!09!0!

K15-(C+!54!0!C(2+(1,h9!C522,C+"=,!S1,T"*0;".".;!54!"+9!6"9+51>!0.-!"-,.+"+>P!!!

! ! ! ! !

! !

#6,9,!;"129h!*5=,*,.+!+615(;6!+6,!

)51-,19!+0M,!+6"9!C5.C,K+!+5!0!6";6,1!

2,=,2E!)1".;".;!4,*"."."+>!".+5!0!9+15.;,1!

8(,9+"5.!0.-!K1,9,.C,!".!+6,!

1,C5.9"-,1".;!54!.5+!5.2>!+6,!@0>!@5*,.!*5=,!+615(;6!)51-,19E!)(+!".!+6,!@0>E!09!

D.L02-n0!90>9E!+60+!+6,9,!)51-,19!*5=,!+615(;6!&'P!!#6,>!2(1,!+6"9!".+5!0!6";6,1!

2,=,2!0295!".!+6,!"**,-"0+,!K1,9,.C,!54!+6,"1!,BK,1",.C,G!+6,"1!6"9+51"C02!1,4,1,.C,9!

01,!+6,"1!"**,-"0+,!K09+9R!+6,!K20C,9!+6,>!1,*,*),1!0.-!1,N@1"+,!@"+6!".+"*0+,!0.-!

"*0;".0+"=,!.59+02;"0!01,!+6,!K20C,9!+6,>!2,4+!5.2>!0!4,@!>,019!51!0!4,@!*5.+6!0;5!

0.-!+6,!"-,.+"+",9!+6,>!01,!.0110+".;!01,!),".;!C1,0+,-!09!@,!9K,0ME!".451*,-!.5+!)>!

!

! VZW!

+10-"+"5.!)(+!)>!+6,"1!5@.!C1,0+"5.P! !

!

#6,!;"129!54!%2!$5;01!20!J(,.0!%9K,10.L0!C011>!+6,"1!@5*0.655-!5.!+6"9!

d5(1.,>E!451*".;!"+!025.;!+6,!@0>E!0.-!+6,>!C5.+".(,!+5!451*!"+!@"+6".!+6,!C5.=,.+9h!

@0229R!95*,!"*0;".".;!4(+(1,!2"4,!".!+6,!C5.=,.+R!5+6,19!"*0;".".;!0!6";6,1!K(1K59,!

54!1,+(1.".;!+5!+6,"1!65*,+5@.9E!0.-!5+6,19!"*0;".".;!4(1+6,1!+10=,2!".+5!(.M.5@.!

C"+",9!0.-!2"=,9P!!!

#6,!45225@".;!4,@!,B0*K2,9!C5*,!415*!+6,!209+!0C+"="+>E!C5.-(C+,-!+6,!-0>!),451,!'!

2,4+!e(1"*0;(09E!0.-!+6,>!9K,0M!+5!+6,!)51-,120.-9!>,+!(.+5(C6,-!".!+6"9!+6,9"9G!

+659,!+6,>!60=,!>,+!+5!C1599!0.-!+659,!+6,>!"*0;".,!C1599".;!".!+6,!4(+(1,P!

'.!+6,!4".02!0C+"="+>E!'!09M,-!+6,!;"129!+5!@1"+,!2,++,19!+5!+6,*9,2=,9!415*!0!

4(+(1,!0;,!S+,.!>,019!52-,1!+60.!+6,>!01,!.5@TP!!H6,.!'!60-!K1,="5(92>!09M,-!+6,*!

+5!"*0;".,!+6,*9,2=,9!4"=,!>,019!415*!.5@E!+6,>!*59+2>!@15+,!+60+!+6,>!@5(2-!),!

52-E!@1".M2,-!0.-!@"9,E!K20>".;!@"+6!+6,"1!"*0;".0+"5.!54!+6,!4(+(1,!SO60K+,1!UUTP!!'.!

+6"9!209+!0C+"="+>E!65@,=,1E!+6,>!C5.4,99,-!+5!+6,*9,2=,9!+6,!K,5K2,!+6,>!@5(2-!

),C5*,!0.-!+6,!+6".;9!+6,>!@5(2-!-5P!#6,>!1,=,02,-!0.!".+"*0+,!2"4,!9+51>!>,+!+5!

60KK,.P!759"+0E!415*!0.!"*0;".01>!0;,!54!VVE!@15+,!+5!UV!>,01!52-!759"+0!+,22".;!6,1!

! VZY!

+5!9"+!)0CM!0.-!2"9+,.!+5!+6,!9+51>!96,!"9!0)5(+!+5!+,22P!!&6,!+,229!6,1!UV!>,01!52-!9,24!

+60+!96,!2,0-!0.!".+,1,9+".;!0.-!),0(+"4(2!2"4,E!),;"..".;!".!+6,!C5.=,.+!@6,1,!96,!

1,02"L,-!@60+!96,!@09!*,0.+!+5!-5!".!2"4,G!+5!),C5*,!0!20@>,1P!!D+!+6,!C5.=,.+E!96,!

-1,0*,-!54!60=".;!0!K154,99"5.!0.-!),".;!9(CC,994(2P!!?5@E!0+!VVE!96,!90>9E!96,!9"+9!

".!6,1!544"C,!0.-!@51M9!@"+6!>5(.;!;"129!@65!C5*,!".!0.-!.,,-!6,2KP!!<P,',$;158'$

5,01.#$0,$"[$0B',8[E!96,!90>9E!0.-!255M9!)0CM!0+!6,1!2"4,!0.-!+6,!@5.-,14(2!9+51>!"+!

609!),,.P!

!

759"+0E!2"M,!022!54!+6,9,!;"129E!01,!0+!0!*5*,.+!".!+6,"1!2"=,9!@6,1,!+6,>!01,!

-,4".".;!+6,*9,2=,9P!'!0*!;,++".;!+5!M.5@!+6,*!0+!+6,!90*,!+"*,!+60+!+6,>!01,!

;,++".;!+5!M.5@!+6,*9,2=,9E!0.-!+60+!+6,>!01,!C6559".;!C1,0+"=,!@0>9!".!@6"C6!.5+!

*,1,2>!+5!-5C(*,.+!+6,"1!2"=,9E!)(+!+5!,BK251,!+6,*!5.!+6,"1!5@.!+,1*9P!!H60+!"9!

"*K51+0.+!6,1,!"9!.5+!d(9+!+6,!201;,1!65K,!+60+!+6,"1!2"=,9!0.-!,BK,1",.C,9!01,!+0M,.!

".+5!C5.9"-,10+"5.!@6,.!@,!)("2-!+6,!".9+"+(+"5.9!+60+!;"129!;5!+615(;6E!51!@6,.!@,!

K20.!+6,!C(11"C(2(*9!+60+!01,!9(KK59,-!+5!K1,K01,!>5(.;!@5*,.P!!70+6,1E!"+!"9!".!

+6,9,!9*022,1!*5*,.+9!54!9,24N1,=,20+"5.P!

!

#6,!*,0.".;!54!+6,9,!+61,,!+6".;9N!2,0=".;!65*,E!+10=,22".;E!0.-!C5*".;!54!0;,!".!

+6,!C5.=,.+!S65*,E!d5(1.,>E!C5.=,.+T!"9!+60+!+6,"1!,BK,1",.C,9!60=,!".451*,-!+6,!

@0>!+6,>!=",@!+6,"1!4(+(1,!0.-!+6,>!965@!(K!C5.9"9+,.+2>E!,"+6,1!2"+,1022>!51!+615(;6!

*,+0K651!".!02*59+!022!54!+6,!0C+"="+",9P!!!

#6,"1!d5(1.,>9!54!*5=".;!+615(;6!+6,9,!)51-,120.-9!60=,!2,-!+6,*!+5!"*0;".,!0!

)51-,12,99!4(+(1,!".!+6,"1!2"=,9!09!@5*,.P!

! VZ^!

A01(!@1"+,9G!

!

!

A01(E!0+!+6,!4(+(1,!0;,!54!VY!"9!0!+,0C6,1!@65!25=,9!6,1!9+(-,.+9P!!&6,!"9!0!4(22!

@5*0.E!96,!90>9E!0.-!96,!"9!60KK>P!!&6,!90>9!96,!@"22!02@0>9!1,*,*),1!@6,.!96,!

@09!4"4+,,.E!@6,.!96,!@09!0!.1F*$(5*+1,'*O$2"=".;!".!+6,!C5.=,.+!0.-!@6,.!96,!

2,01.,-!65@!+5!@1"+,!K5,+1>!0.-!0)5(+!65@!+5!25=,!6,19,24P!

!

D2*59+!022!54!+6,!;"129!255M!)0CM!0+!+6,"1!65*,+5@.9!09!K20C,9!+60+!.(19,-!0.-!

10"9,-!+6,*E!0.-!022!54!+6,*!,.="9"5.!1,+(1.".;!".!+6,"1!5@.!(."8(,!@0>P!!#6,1,!01,!

0!+65(90.-!@0>9!+60+!+6"9!5,(&5.!255M9!2"M,!".!+6,"1!@1"+".;G!451!95*,!"+!"9!@"2-2>!

"*0;".0+"=,!".!+6,!451*!54!".=,.+,-!2,;,.-9P!!&5*,!1,N@1"+,!0.-!"*0;".,!0!C0(9,!54!

60=".;!2,4+!+6,!65*,+5@.E!9(C6!09!+615(;6!+6,!".=,.+,-!2,;,.-!@6,1,!#0."!)1".;9!+5!

! VZ_!

2"4,!0!*>+6"C02!)"1-!@65!*(9+!42>!401!0@0>!451!0!4,@!>,019!".!51-,1!+5!-"9C5=,1!.,@!

6,1)9!+60+!@"22!C(1,!0!K0.-,*"C!044,C+".;!6,1!+5@.P!!A01"0!7590!)1".;9!+5!2"4,!0!

>5(.;!;"129h!C6010C+,1!+60+!"9!451C,-!+5!+10=,2!+5!0!401!0@0>!+5@.!".!51-,1!+5!;,+!

,-(C0+"5.!95!+60+!96,!*0>!1,+(1.!+5!6,1!65*,+5@.!0.-!"*K15=,!"+P!!Q(L!C1,0+,9!0!

>5(.;!;"129h!C6010C+,1!@65!609!+5!C6559,!),+@,,.!0CC,K+0.C,!415*!6,1!40+6,1!51!

45225@".;!-"=".,!51-,1!415*!0!*55.!@65!+52-!6,1!96,!*(9+!+10=,2!401!".!51-,1!+5!

),C5*,!+6,!9,C5.-!*55.!0.-!+0M,!5=,1!@6,.!+6,!*55.h9!+"*,!"9!-5.,P!!J,>5.-!

,BK1,99".;!0!9+15.;!-,9"1,!+5!),!".!C5.+152!54!+6,"1!2"4,!-,C"9"5.9E!0.-!1,N@1"+".;!+6,!

C"1C(*9+0.C,9!+60+!)15(;6+!+6,*!6,1,E!+6,9,!965@!+6,!C1,0+"=,!451*9!".!@6"C6!+6,>!

60=,!C1599,-!)51-,19!51!60=,!.,;5+"0+,-!)51-,120.-9!".!+6,"1!2"4,!6"9+51",9!0.-!

,BK,1",.C,9P!!D.-!@6"2,!+6,9,!9+51",9!9K,0M!+5!)51-,120.-9!C1599,-!0.-!.,;5+"0+,-R!

5+6,19!9K,0M!+5!+659,!>,+!+5!C1599P!!#6,1,!"9!*(C6!+5!),!90"-!0)5(+!65@!+6,>!"*0;".,!

C1599".;!C,1+0".!)51-,19!".!+6,!4(+(1,E!0.-!+6,!1,20+"5.96"K!54!+6"9!0.-!+6,!*0.>!

@0>9!+6,>!"*0;".,!1,+(1.".;!65*,P!!

'.!"*0;".".;!C1599".;!)51-,19!".!+6,!4(+(1,E!95*,!"*0;".,!1,NC1599".;!+6,!

"."+"02!)51-,1!415*!65*,!+5!C5.=,.+E!9(C6!09!759"+0!@65!90>9!+60+!96,!"9!6,1,!+5!

),C5*,!0!20@>,1!95!+60+!@6,.!96,!"9!52-,1E!96,!C0.!1,+(1.!0.-!6,2K!+6,!K,5K2,!54!6,1!

+5@.!0.-!+,0C6!+6,*!0)5(+!+6,"1!1";6+9P!!&5*,!"*0;".,!C1599".;!+6,!)51-,1!54!;"129!

0.-!.(.9E!90>".;!+60+!5.,!-0>E!04+,1!96,!40229!".25=,E!9+(-",9E!0.-!*0>),!,=,.!

),C5*,9!0!)(9".,99!@5*0.E!6,1!(2+"*0+,!-,9+".>!@"22!),!+5!),C5*,!0!.(.E!@6,1,!96,!

@"22!4(24"22!+6,!-,9"1,9!54!I5-P!!H60+,=,1!+6,!)51-,1E!022!"*0;".,!0.!,K"C!

+10.9451*0+"5.!;("-,-!6,0="2>!)>!+6,"1!K1,9,.+2>!451*".;!@5*0.655-P!

D!@,,M!),451,!2,0=".;!e(1"*0;(09E!'!90+!5(+9"-,!@"+6!75Cj5N!+6,!;"12!@65!

! VZ\!

w0*0!-,*09"0-5wE!@65!-1,0*9!54!+10=,22".;!401E!4022".;!".!25=,E!),C5*".;!0!)(9".,99!

@5*0.!0.-!,=,.+(022>!0!.(.N!0.-!96,!09M,-!*,E!

wD."+0E!+(!.(.C0!K",.909!9,1!*5.d"+0iw!

nT.1(*O$B"&w+,$.,+,5$(P"&;P($*?"&($?,6"01.;$*$.&.po!

!

$5.,9+2>E!'!+52-!6,1P!?[P!'!@5(2-.�+!209+P!&6,!20(;6,-P!

!

b,88O$H$\*.($("$?,]!

'!@09!C5*K2,+,2>!C0(;6+!)>!9(1K1"9,P!

dZ,$+,5#*#pN3$'!09M,-]$d4"5W&,p3$!

!

'!9+5KK,-!*>9,24P!#6"9!@09!75Cj5E!@65!"9!w+55!".!25=,wE!09!96,!@1"+,9!5.!+6,!,-;,9!54!

6,1!.5+,)55MP!!75Cj5E!@65!@1"+,9!25=,!.5+,9!".!+6,!C51.,19!54!6,1!.5+,)55MP!!75Cj5E!

@65!M,,K9!022!+6,!)55M9!54!gK5,9j0!,9C0.-02590h!(.-,1!6,1!K"225@!0.-!1,0-9!"+PPP@0.+9!

+5!),!0!.(.P!

!

wO1,5!8(,!:"59!*,!220*0E!C1,5!8(,!,95!,9!*"!=5C0C"o.w!

!"#$1'$(,881.;$0,$("$?,$*$.&.]$H$812,$(P,$81[,$(P,B$8,*#O$'P,$(,88'$0,]$<P,B$;"$Q8*6,'O$(P,B$

0,,($Q,"Q8,O$(P,B$81+,]!

!

-&($#".w($B"&$\*.($?"B[51,.#'ppp$'!d5M,-!@"+6!6,1P!

!

X,*PE!96,!90"-P$<P"',$*5,$["5$uQ*5*$01,.(5*'Y$n1.$(P,$0,*.(10,o]$

! VZZ!

$

351!+6"9!209+!0C+"="+>E!'!@09!,BK,C+".;!4(..>!9+51",9!0)5(+!;15@".;!52-!0.-!

),".;!*011",-P!!'.9+,0-E!'!;5+!9+51",9!+60+!1,=,02,-!+6,!+65(90.-9!54!@0>9!;5".;!

65*,E!@5*0.655-!0.-!2"4,!C5(2-!255M!2"M,R!+6,!*(2+"K2,!@0>9!+6,>!C5(2-!C5.C,"=,!54!

+6,!;,5;10K6",9!+6,>!60=,!K099,-!+615(;6!0.-!+659,!+6,>!60=,!>,+!+5!,BK,1",.C,R!

+6,!*(2+"K2,!)51-,19!+6,>!60=,!0.-!01,!K1,9,.+2>!.,;5+"0+".;!".!+6,!"*0;".".;!54!0!

)51-,12,99!4(+(1,P!

!

#6,!2,++,1!75Cj5!@15+,!+5!6,19,24E!),>5.-!*0M".;!*,!C1>!0+!+6,!+65(;6+!54!

2,0=".;!+6"9!K20C,E!*0-,!*,!8(,9+"5.!*>!5@.!@5*0.655-!0.-!+6,>!@0>!'!

C5.C,K+(02"L,!*>!5@.!;,5;10K6",9!0.-!)51-,19E!09!@,22!09!+6,!K599")"2"+",9!+60+!

@1"+".;!0.-!C1,0+"5.!C0.!;"=,!".!"*K15=".;!+6,!2"=,9!54!;"129P!

!

! Xcc!

$

$

75Cj5!@1"+,9!+5!6,19,24!0+!,";6+,,.!+60+!".!+6"9!4(+(1,!0;,!54!V\E!96,!"9!0!

C5*K2,+,!@5*0.E!@"+6!0!4(+(1,!0.-!0!K154,99"5.!".!)(9".,99E!0.-!0!)5>41",.-!@65!

+1,0+9!6,1!@,22P!

&6,!1,*,*),19!@6,.!96,!@09!U\E!96,!90>9E!0.-!022!+6,!,BK,1",.C,9!0.-!+6".;9!+60+!

60KK,.,-!+5!6,1!2,0-".;!(K!+5+!60+!0;,P!!&6,!M.,@!.5+6".;!0)5(+!2"4,E!96,!90>9E!)(+!

96,!C011",9!+6,!*,*51",9!@"+6!6,1!54!2"=".;!".!+6,!C5.=,.+P!![.,!"*K51+0.+!*,*51>!

96,!90>9E!"9!@6,.!0!451,";.!+,0C6,1!C0*,!+5!+,0C6!022!+6,!;"129P!!315*!+60+!*5*,.+!5.E!

96,!90>9E!96,!2,01.,-!+60+!),".;!0!@5*0.!@09!0!=,1>!9K,C"02!+6".;P!!J,C0(9,!54!6,1!

C2099E!96,!90>9E!96,!"9!.5@!F+5-0!(.0!*(d,1fE!0!C5*K2,+,!@5*0.P!!&6,!90>9!+60+!96,!

95*,+"*,9!96,!40229!".25=,!0.-!95*,+"*,9!96,!-5,9.h+E!95*,+"*,9!96,!@1"+,9!0.-!

95*,+"*,9!96,!-5,9.h+E!)(+!+60+!@6,.!96,!@1"+,9!96,!1,*,*),19!*,!!0.-!+6,!C2099!

! XcU!

0.-!@5.-,19!@6,1,!'!0*P!!&6,!609!.5+!6,01-!415*!*,!".!0!25.;!+"*,E!96,!90>9E!)(+!

+60+!96,!K10>9!+5!I5-!+60+!'!0*!-5".;!@60+!'!@0.+!+5!),!-5".;P!!

$

H6,.!'!1,0-!+6"9E!+6,!@51-!2"),10+"5.!C0*,!+5!*>!*".-R!@60+!"+!*,0.9!0.-!

@60+!"+!C5(2-!255M!2"M,P!!75Cj5!60-!*0-,!*,!+6".M!54!*>!5@.!)51-,1N4(22!K09+!0.-!

)51-,12,99!4(+(1,E!0.-!65@!*>!5@.!2"4,!K20>,-!".+5!(.-,19+0.-".;!+6,!;,5;10K6",9!

@,!01,!)51.!".+5!0.-!+6,!5.,9!@,!C1,0+,P!!H60+!9>*)529!-5!@,!C011>!@"+6!(9!@6,.!

@,!.0110+,!5(1!2"4,!9+51",9i!

D22!54!+6,"1!K09+!,BK,1",.C,9!0.-!+6,!9>*)529!+6,>!(9,!".!+6,"1!@1"+".;N+6,!

65*,+5@.E!+6,!d5(1.,>E!+6,!C5.=,.+q4(.C+"5.!09!9>*)529!0.-!*,+0K6519!451!@6"C6!

+6,>!"*0;".,!.,@!)51-,19!+5!C1599!".!+6,!4(+(1,R!0!@0>!+5!2"),10+,!+6,*9,2=,9!415*!

@60+!"9!,BK,C+,-!54!+6,*P!

!

H6,.!'!2,4+!+6,!C5.=,.+E!+6,!65;01E!20!O09"+0!@6,1,!'!60-!9+0>,-!451!+61,,!

*5.+69!)01,2>!2,0=".;!"+9!@0229E!"+!4,2+!09!"4!*>!6,01+!0.-!"-,09!@,";6,-!+65(90.-9!54!

K5(.-9!0.-!-10;;,-!2"M,!6(;,!0.C6519!.,B+!+5!*,P!H6,.!'!+6".M!0)5(+!+6,9,!;"129E!

0)5(+!+6,"1!@1"+".;E!0)5(+!+6,"1!01+PPP'!+6".M!0)5(+!@60+!]0.",!90"-!0)5(+!9,24N

1,=,20+"5.P!#6,!K15)2,*!"9!+60+!*59+!-,4"."+"5.9!54!+6"9!@51-!".C2(-,!0!C0(+"5.G!+60+!

9,24N1,=,20+"5.!"9!=,1>!54+,.!�@"+65(+!-,2"),10+,!".+,.+�P!'.!+6,!C09,!54!+6,!;"129!54!+6,!

e(1"*0;(09!O5.=,.+E!+6,>!1,=,02!+6,*9,2=,9!+5!+6,*9,2=,9!@"+6!,=,1>!K6>9"C02E!

,01+62>!0.-!@"2-!".+,.+"5.P!D.-!*(C6!*51,!),0(+"4(2!+60.!1,=,02".;!>5(19,24!+5!

95*,5.,!,29,E!51!,BK1,99".;!25=,!51!0.;,1!51!K5,+1>!+5!95*,5.,!,29,E!"9!+6,!*5*,.+!

@6,.!>5(!1,=,02!"+!+5!>5(19,24R!+6,!*5*,.+!+6,>!1,=,02!+6,"1!5@.!K5,+1>!+5!+6,"1!

! XcV!

5@.!9,2=,9!0.-!+6,"1!5@.!)5-",9E!),C0(9,!"+!K15-(C,9!0.!0(+5N25=,!0.-!-"9C5=,1>!

+60+!209+9!*(C6!25.;,1!0.-!.(1+(1,9!"+9,24!*(C6!-,,K,1!+60.!0.>!5+6,1!5.,P!

!

#6"9!"-,0E!+6,!"-,0!+60+!"4!;"129!25=,-E!1,NC1,0+,-E!1,=,02,-!0.-!-"9C5=,1,-!

+6,*9,2=,9E!+60+!+6,>!C5(2-!C1,0+,!6(;,!C"+",9!S+5!),!*,+0K651"C02TE!0.-!,.+"1,!

@512-9!S+5!),!1,02"9+"CTE!609!*0-,!*,!4,,2!2"M,!'!60=,!0!Uccc!K5(.-!*(102!54!6,01+9!

+60+!'!-10;!015(.-!,=,1>@6,1,E!+60+!M,,K!*,!6,1,E!0.-!;15@9!0.5+6,1!2"*)!,0C6!

+"*,!'!C5*,!)0CM!0.-!,0C6!+"*,!'!2,0=,P!'!-10;;,-!+6"9!+6".;!5.!+6,!+61,,!-0>!)50+!

1"-,!'!+55M!+6,!-0>!'!2,4+E!0!4,@!@,,M9!)0CME!0.-!".!+6,!65(19!'!9K,.+!1,0-".;!0.-!1,N

1,0-".;!+6,"1!@1"+".;E!".!+6,!-,+0"29!'!*"99,-E!0.-!C1>".;!*51,!+60.!'!,=,1!+65(;6+!'!

C5(2-!C1>P!!#6,!.";6+!),451,!'!;5+!5.!+6,!)50+E!'!90"-!)>,!+5!,=,1>5.,E!0.-!2"+,1022>E!

=,1>!2"+,1022>E!C1",-!022!.";6+P!#6,!"*0;,!+60+!609!9+(CM!@"+6!*,!"9!54!75Cj5!@1"+".;!

+60+!*59+!-0>9E!96,!1,*,*),19!0!+"*,!@6,.!96,!2,01.,-!+60+!),".;!0!@5*0.!@09!

8("+,!K15)0)2>!+6,!*59+!0*0L".;!+6".;!".!+6,!@512-P!A51,!0*0L".;!+60.!+6"9!+65(;6E!

@09!�9,1!(.0!*(d,1!+5+02�P!O5*K2,+,P!A(d,1!+5+02P!

!

'!+65(;6+!451!-0>9!0)5(+!@60+!"+!*,0.+!+5!),!0!C5*K2,+,!@5*0.P!!%=,.!95*,!

*,.!".!+6,!+5@.!60-!"-,09!0)5(+!+6"9P!3,2"B!"9!+6,!52-,1!*0.!@65!5@.9!+6,!9"B!

+,2,K65.,!C0)".9!-5@.!+6,!9+1,,+P!!H,!),C0*,!41",.-9!+5@01-!+6,!,.-!54!*>!+1"KE!

0.-!'!@5(2-!="9"+!6"*!5.!*>!@0>!)0CM!+5!+6,!C5.=,.+!,=,1>!-0>!0+!YGXcK*P!$,!

C20"*,-!+60+!6,!M.,@!*(C6!*51,!0)5(+!@5*,.!+60.!@5*,.!-"-E!)(+!+60+!@5*,.!

@5(2-!5.,!-0>!M.5@!+6,!+1(+6P!?0+(1022>E!'!@09!".+,1,9+,-E!95!6,!;0=,!*,!@"9,!

0-="C,!,=,1>!-0>!451!+@5!@,,M9P!

! XcX!

#6,!209+!0-="C,!6,!;0=,!*,!),451,!'!2,4+E!@09!+60+!@5*,.~9!)";;,9+!*"9+0M,9!

@,1,!+5!C5.+152!+6,"1!@"2-!6,01+9P!&0),9E!6,!+52-!*,E!�>5!K(,-5!=,1!0!(.0!K,195.0!>!

90),1!C5*5!95.�P!�#(�E!6,!+52-!*,E!�+",.,9!(.!C510Lo.!,110.+,E!+",.,9!8(,!0K1,.-,1!0!

,9C(C60120�P!�e5(!60=,!0!.5*0-"C!6,01+E!0.-!>5(!60=,!+5!2,01.!+5!2"9+,.!+5!"+�P!

3,2"Bh9!0-="C,!@09!2"M,!]0.",h9E!@65E!5.!6,1!25.;!@02M!)0CM!+5!6,1!65*,+5@.E!

96,!9"+9!-5@.!0+!/65,),h9!K51C6!0.-!90>9!F*51,!+60.!>5(1!2"4,N652-".;!@5*)!0.-!

2"4,N;"=".;!K1"=0+,!K01+9E!25=,!>5(1!6,01+N!451!+6"9!"9!+6,!K1"L,fP!!#6"9!*0-,!*,!+6".M!

0)5(+!0!6,01+E!0.-!0)5(+!+6,!0)"2"+>!+5!4,,2!"+E!.5+!09!0!*,+0K651E!)(+!09!0!*,99!54!

)255-!0.-!9()9+0.C,E!54!@"2-!0.-!9,24N1,=,02".;!+6".;9!0.-!*5*,.+9P!

!

! #6,>!1,NC1,0+,-!C"+",9E!C5**(."+",9!0.-!9+51",9!5(+!54!+6"9E!@"2-!0.-!

5=,1@6,2*".;!01C6"+,C+(1,9!@6"C6!+6,>!9601,-!".!+6"9!9*022!K20C,!*0-,!54!*0.>!

@0229E!155*9!0.-!9+51",9P!!#6,>!),;0.!+5!4".-!0!+>K,!54!M.5@2,-;,!+60+!C5*,9!415*!

+6,!*59+!9,.9"+"=,!0.-!1,02!54!K20C,9G!

+6,!)5->E!0.-!+6,!"*0;".0+"5.!+60+!

C5*,9!415*!M.5@".;!+60+!>5(!01,!".!

>5(1!5@.E!0.-!+6,!9,24N1,=,20+"5.!

+60+!+0M,9!"+9!K20C,P!

!

H60+!"9!+6,!K(1K59,!54!+6,9,!0C+"="+",9i!!#6,9,!0C+"="+",9!-5!.5+!;"=,!022!+6,!

0.9@,19R!04+,1!022E!+6,>!@,1,!C1,0+,-!0.-!".9K"1,-!5(+!54!*>!5@.!,BK,1",.C,!09!0!

@5*0.!0.-!09!0!@5*0.!+60+!@51M9!@"+6!5+6,1!@5*,.E!0.-!*>!5@.!,BK,1",.C,!@"+6!

+6,!8(,9+"5.9!54!4,*"."9*P!!J(+!+6,>!1,=,02!95*,+6".;E!451!9(1,E!0.-!"4!0.>+6".;E!

!

! XcW!

0225@!;"129!+5!C5.415.+!".!9,=,102!-"44,1,.+!451*9E!@0>9!0.-!*,-"(*9E!+6,!8(,9+"5.9!

+6,>h=,!),,.!+10".,-!+5!.5+!09M!0.-!+5!"*0;".,!2"=,9!+6,!@0>!+6,>h1,!+10".,-!+5!.5+!

"*0;".,G!5.!+6,"1!5@.!+,1*9N!@6,+6,1!+5!),C5*,!0!.(.E!0!20@>,1E!0!)(9".,99!

@5*0.E!0!*5+6,1N!02@0>9E!5.!+6,"1!5@.!+,1*9P!!H1"+".;!".!+6"9!9K0C,!;"=,9!+6,*!0.!

5KK51+(."+>!+5!"*0;".,!0!2"4,!@"+6".!0.-!@"+65(+!*5+6,1655-P!!'+!0225@9!+6,*!+5!9,,!

+6,!C522,C+"="+>!54!+6,"1!,BK,1",.C,9E!>,+!+6,!(."8(,.,99!".!+6,!952"+(-,!0.-!

".-,K,.-,.C,!".!@6"C6!+6,>!60=,!C011",-!5(+!+6,!,BK,1",.C,9!+60+!(."+,!+6,*N!

2,0=".;!65*,E!+10=,22".;E!C5*".;!54!0;,P!

!

'�=,!+65(;6+!0)5(+!*>!*,+65-N!0.-!@60+!"9!1,8("1,-!+5!C5*,!5(+!54!+6"9P!'4!

95*,5.,!@,1,!+5!09M!*,!@60+!+6,!*,+65-!"9E!'!�-!90>!+60+!"+!"9!0!*,+65-!+60+!"9!+1(,!

+5!+6,"1!2"=,9!0.-!,BK,1",.C,-E!0.-!+5!+6,"1!C5*K2,B!0.-!.(0.C,-!9,2=,9P!'!C5.9"-,1!"+!

0!42("-!0.-!C1,0+"=,2>!C5.9+1(C+,-!*,+65-P!?5!=01"0)2,9!+5!.0*,E!.5!;15(K9!+5!),!

0225C0+,-!".+5!C0+,;51",9P!&"*K2>!0.-!C5*K2,B2>!+6,!9"B+,,.!;"129!@65!60=,!9K,.+!0!

C1(C"02!K,1"5-!54!+6,"1!2"=,9N+6,"1!;"12655-N!".!0!O01*,2"+,!O5.=,.+!401!415*!65*,P!'+!

"9!0.!0CC5(.+!54!+6,"1!C1,0+"="+>N54!@60+!+6,>!C1,0+,!"4!>5(!d(9+!09M!+6,*!+5P!#6,"1!

)0CM;15(.-E!1,095.!451!),".;!6,1,E!6"9+51>E!"-,.+"+>N!01,!+61,0-9!@6"C6!C0.!),!45(.-!

".!+6,"1!@1"+".;E!)(+!"+!"9!.5+!0)5(+!+60+P!

#6"9!"9!0)5(+!@60+!+6,>!"*0;".,!0.-!C5.9+1(C+!5(+!54!+6,"1!5@.!C1,0+"5.E!)>!

+6,"1!9601,-!0.-!".-"="-(02!;"12655-P!!H60+!)51-,19!-5!+6,>!C1599!(P5"&;P!+,B+i!!

H60+!.0+"5.02!)51-,19i!!H60+!C(2+(102!)51-,19i!!'.!C1599".;!+6,9,!)51-,19E!+6,>!01,!

C1,0+".;!.,@!)51-,19!>,+!0295!1,.-,1".;!+6,*!)51-,1N2,99P!!#6,>!01,!@1"+".;!415*!

*01;".02"L,-!9K0C,9E!@"+6!=5"C,9!101,2>!+0M,.!".+5!0CC5(.+!09!4,*02,E!".-";,.5(9E!

! XcY!

1(102!0.-!K551P!!'.!,.;0;".;!+6,9,!9K0C,9!S0.-!".!+6,!K15C,99!C1,0+".;!.,@!5.,9!0.-!

-"9*0.+2".;!52-!5.,9TE!+6,>!C6022,.;,!+6,!C5.+".,.+h9!0.-!+6,!@512-h9!.5+"5.9!54!

*0K655-!0.-!.0+"5.655-P!!H,!C0..5+!9,K010+,!+6,!451*!415*!+6,!;,5;10K6"CE!

C(2+(102E!6"9+51"C02!0.-!;,.-,1,-!C5.-"+"5.9!".!@6"C6!+6,9,!K",C,9!01,!K15-(C,-P!!

%.;0;".;!+6,9,!9K0C,9E!.5+!5.2>!-5!+6,>!-"9*0.+2,!+6,!)51-,19!+60+!60=,!M,K+!+6,*!

5KK1,99,-E!)(+!+6,>!C1,0+,!+6,9,!1,20+"5.96"K9!),+@,,.!+6,*9,2=,9!09!;"129!0.-!+6,!

9K0C,9!+6,>!".60)"+P!!H1"+".;!"9!@60+!K15="-,9!+6,!*,-"(*!+615(;6!@6"C6!+5!"*0;".,!

0.-!C1,0+,!+6,9,!.,@!1,20+"5.96"K9E!.5+!5.2>!),C0(9,!54!+6,!9+1(C+(1,!54!+6,!C2099!

@6"C6!0225@,-!+6,*!+6,!+"*,!0.-!9K0C,E!)(+!),C0(9,!54!+6,!*"B!54!4"C+"5.E!+,9+"*5.>!

0.-!K5,+1>!09!+6,!*(2+"K2,!451*9!0=0"20)2,!+5!+6,*!+5!+,22!+6,9,!9+51",9P!!#6,"1!@51M!

"9!K(1,!C1,0+"5.P!!

'.!+6,!+61,,!*5.+69!+60+!'!9K,.+!".!+6,!P";*5O$'!@15+,!+5!0!41",.-!+5!+1>!+5!;,+!

"-,09!54!65@!+5!+1,0+!+6,"1!@1"+".;P!!D.-!2"M,!*59+!"-,09!0.-!+6,51",9!+60+!'!;,+!415*!

+6,!;"129!0.-!@5*,.!".!*>!2"4,E!96,!90"-!95*,+6".;!+60+!*0-,!*,!1,N+6".M!+6"9!@652,!

K15d,C+P!!

&6,!90"-!+60+!+6"9!K15d,C+!-5,9!.5+!0.-!965(2-!.5+!4022!".+5!*59+!K5,+1>!

K15d,C+9!+60+!C20"*!+60+!K5,+1>!M,,K9!;"129!904,E!+60+!"+!M,,K9!+6,*!415*!;,++".;!

K1,;.0.+P!!/5,+1>!@09!02@0>9!*,0.+!+5!K15=5M,P!!

#6,!K5".+E!96,!90"-E!"9!+5!;"=,!+6,*!0!C60.C,!+5!w,BK251,!+6,*9,2=,9!),451,!+6,>!;,+!

,BK251,-N!2"M,!0!M".-!54!K1,;.0.C>!+60+!-5,9.h+!*,0.!60=".;!+5!)(>!)";;,1!K0.+9wP!!'!

-5()+!+60+!+6"9!@5(2-!@51M!"+9!@0>!".+5!)55M9!54!4,*"."9+!+6,51>E!)(+!2"M,!*59+!

10-"C02!0.-!*01;".02"L,-!*5=,*,.+9E!2"M,!@5*0."9*E!"+!-"-!.5+!9+01+!09!+6".;9!

@1"++,.!".!)55M9E!)(+!+6".;9!@6"9K,1,-!".!C6(1C6P!

! Xc^!

!

#6"9!K15d,C+!609!,=,1>+6".;!+5!-5!@"+6!+6,!C60.C,!+5!,BK251,!5.,9,24P!!#6,!.(.9!+,22!

*,!+60+!*0.>!54!+6,9,!;"129!;,+!0)(9,-!),451,!+6,>!0C+(022>!M.5@!+6,!5KK59"+,!54!

+60+P!#6,>!;5!+615(;6!@60+!*0.>!;"129!0.-!@5*,.!;5!+615(;6N!)>!+6,!+"*,!+6,>!

60=,!+6,"1!4"19+!w9,B(02!,BK,1",.C,wS".C2(-".;!0)(9,TE!+6,>!-5!.5+!1,022>!M.5@!

+6,*9,2=,9N!9,B(02"+>!0.-!0.>!9,B(02!"-,.+"+>!"9!;"=,.!+5!+6,*!S)>!+6,!2,09+!8(02"4",-!

K,5K2,TP!

H60+!-5,9!+6"9!C5.=,.+!1,K1,9,.+!09!0!9K0C,!54!2"),10+"5.i!!H60+!01,!"+9!

K599")"2"+",9N!@60+!C0.!),E!0.-!"9E!C1,0+,-!0.-!"*0;".,-!@"+6".!"+!0.-!@"+65(+!"+i!!

D.-!+6,!K5".+!54!K5,+1>E!+6,.E!"9!.5+!+5!M,,K!+6,*!415*!;,++".;!K1,;.0.+E!09!A"C6,22,!

1,*".-,-!*,P!#6,!K5".+!54!K5,+1>!"9!.5+!09!0!C0+6019"9E!.5+!09!0.!5=,1N(9,-!

w,*K5@,1*,.+!*,C60."9*fP!!#6,!K5".+E!09!A"C6,22,!90"-E!"9!+5!,BK251,!>5(1!)5->!

),451,!95*,5.,!,29,!-5,9E!+5!C1,0+,!0!2"4,!9+51>!0.-!4(+(1,!5.!+6,"1!5@.!+,1*9E!@"+6!

+6,"1!F5@.!2(*)01E!*>!5@.!)1"CM9q0.-!*>!5@.!4,*"."9+!01C6"+,C+(1,f!SD.L02-n0E!

-"5#,58*.#'I@*$/5".(,5*o!

!

'!60=,!54+,.!+65(;6+R!"4!5.2>!@5*,.h9!4"19+!,BK,1",.C,9!@,1,!@"+6!5+6,1!

@5*,.PPP"*0;".,!+6,!M".-!54!@5*,.!+6,>!@5(2-!021,0->!?,!@"+65(+!60=".;!+5!

?,6"0,]!!J(+!0+!+6,!90*,!+"*,E!+6"9!),C5*".;!"9!@60+!K5,+1>!"9!022!0)5(+P!!#6,"1!

@1"+".;!K15="-,9!0!@0>!+5!1,+6".M!+6,!)5->E!1,+6".M!+6,!C5.=,.+E!0.-!1,+6".M!+6,!

".9+"+(+"5.9E!+10=,2!15(+,9!0.-!9K0C,9!+60+!5CC(K>!0.-!01,!5CC(K",-!)>!;"129P!

!

! Xc_!

759"+0E!+6,!>5(.;,9+E!609!2,99!,.-(10.C,!".!@1"+".;R!51!K,160K9!96,!90>9!.5!

*51,!+60.!96,!C5.9"-,19!.,C,9901>P!!'!M.5@!96,!"9!4"."96,-!@6,.!96,!920*9!6,1!

K,.C"2!-5@.E!K20>9!@"+6!+6,!"+,*9!".9"-,!6,1!-,9ME!@02M9!015(.-!+6,!155*!

".9+";0+".;!0.-!K15=5M".;!+6,!5+6,1!;"129E!0.-!+6,.!9"+9!)0CM!-5@.E!".!K1,K010+"5.!+5!

09M!*,!0!8(,9+"5.!5(+!25(-P!!!

FD."+0E!C(0.+5!;0.0.!209!4,*"."9+09iF!n)"\$0&6P$#"$[,01.1'('$0*2,po!!'!+1",-!+5!

,BK20".!+5!6,1!+60+!F4,*"."9+f!@09.h+!0!K154,99"5.E!K,1!9,P!!#60+!5.,!-5,9.h+!F*0M,!

*5.,>f!-5".;!"+R!+60+!+6,1,!01,!4,*"."9+9!".!022!M".-9!54!@51MG!+6,1,!01,!4,*"."9+9!".!

9C6552E!4,*"."9+9!@65!@1"+,E!4,*"."9+9!@65!C55ME!4,*"."9+9!@65!+,0C6E!4,*"."9+9!@65!

01,!20@>,19E!4,*"."9+9!@65!9+0>!0+!65*,E!4,*"."9+9!@65!01,!)(9".,99!@5*,.P!

#65(;6!@60+!'!60=,!K1,9,.+,-!6,1,!"9!K01+2>!0!C1,0+"=,!@1"+".;!C(11"C(2(*!

451!;"129E!025.;!@"+6!90*K2,9!54!+6,"1!@1"+".;!0.-!0.!,BK2510+"5.!54!+6,!-,K+6!+60+!

4,*"."9+!,BK,1",.C,!C0.!;"=,!(9!".!)51-,1!+6,51>E!*>!65K,!"9!+60+!"+!"9!+6,!),;"..".;!

54!+6,!)2(,!K1".+!451!C1,0+".;!".9+"+(+"5.9!9K,C"4"C022>!451!+6,!2"),10+"5.!54!+6,!209+!

5KK1,99,-!;15(K9N!;"129P!!759"+0h9!8(,9+"5.!-,*0.-9!+60+!@,!1,+6".M!+6,!".9+"+(+"5.9E!

*0K9!0.-!9K0C,9!+60+!40"2!;"129P!

'!.,=,1!;0=,!759"+0!0!C2,01!0.9@,1!+5!6,1!8(,9+"5.E!)(+!'!60=,!1,N09M,-!*>!

9,24!+6,!8(,9+"5.!".!*0.>!@0>9P!!![.!0!201;,1!(."=,1902!9C02,E!+6"9!K15d,C+!"9!+5@01-!

+6,!65K,!+60+!5.,!-0>!K159+"+(+"5.!@"22!.5+!),!+6,!5.2>!K154,99"5.!@6,1,!@5*,.!

*0M,!*51,!+60.!*,.R!51!+60+!;"129!;15@!(K!,.;0;,-!".!+6,!@5*0.655-!+6,>!5.C,!

-,9C1"),-!09!;"129E!0.-!5.!0!*51,!".+"*0+,!9C02,E!+5@01-!+6,!65K,!+60+!"4E!2"M,!]0.",!".!

! Xc\!

F#6,"1!%>,9!H,1,!H0+C6".;!I5-fE!+6,>!1,+(1.!65*,E!+60+!+6,>!1,+(1.!F@"+6!+60+!

52-,9+!6(*0.!25.;".;G!9,24!1,=,20+"5.fXUP!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!XU!$(19+5.E!F#6,"1!%>,9!H,1,!H0+C6".;!I5-fP!

! XcZ!

7,4,1,.C,9!

D.-,195.E!J,.,-"C+!7P![~IP!H0*;1.,#$9"00&.1(1,':$G,[8,6(1".'$".$(P,$R51;1.$*.#$$

=Q5,*#$"[$C*(1".*81'0P!Q5.-5.G!t,195E!UZZUP!/1".+!

D.L02-n0E!I251"0P!-"5#,58*.#'O$@*$/5".(,5*:$(P,$C,\$%,'(1M*P!&0.!310.C"9C5G!D(.+!!

Q(+,E!UZ\_P!/1".+P!

J0-0.5E!t02,1"0P!@*'$R(5*'$%15*#*':$)1'("51*'$Z,$%&K,5,'$:$="?5,$<,V("'$Z,$9]$-*K"O$=]$$

%"88"BO$h]$HM*;&155,O$@]$7*8,.M&,8*O$^]$95&MP!J(,.59!D"1,9G!%-"+51"02!?(,=0!

I,.,10C"o.E!VccZP!/1".+P!

J0(*0.E!7"C601-P!=("5BO$4,5["50*.6,O$*.#$h+,.(:$9".(,V(&*8$=(&#1,'$"[$R5*8$$

C*55*(1+,P!O0*)1"-;,!xO0*)1"-;,96"1,G!O0*)1"-;,!</E!UZ\^P!/1".+P!

J,601E!7(+6P!<5*.'8*(,#$b"0*.:$95"''1.;$(P,$-"5#,5$\1(P$h'Q,5*.M*x'$=("5BP!J59+5.G!!

J,0C5.E!UZZXP!/1".+P!

J,601E!7(+6P!�$0=".;!+5!90>!)>,!+5!J0)0;"!<P,$^,\1'P$T#+"6*(,E!31"-0>E![C+5),1!V^E!

Vcc_P!

O0..".;E!b0+62,,.P!�3,*"."9+!$"9+51>!D4+,1!+6,!Q".;("9+"C!#(1.G!$"9+51"C"L".;!!

:"9C5(19,!0.-!%BK,1",.C,P�!/,01.1'($TQQ5"*6P,'$("$<P,"5B$*.#$%,(P"#"8";B:$

*.$H.(,5#1'61Q81.*5B$G,*#,5P!%-P!&6012,.,!?0;>P!$,99,NJ"),1E!O61"9+".0!bP!

I"2*01+".E!0.-!75)".!Q>-,.),1;P!?,@!e51MG![B451-!</E!UZZZP!WYN_ZP!/1".+P!

O09+15Nb201m.E!&010E!&>2="0!A5225>E!0.-!J,0+1"L!&0125P!b"0,.x'$b51(1.;$1.$@*(1.$$

T0,516*:$*.$T.(P"8";BP!J5(2-,1G!H,9+=",@E!UZZUP!/1".+P!

O"9.,159E!&0.-10P!�<.0!&0.+0!?5C6,P�!h8$T55"B"$Z,$@*$@8"5".*$X$R(5"'$9&,.("'P!?,@!!

e51MG!t".+0;,E!UZZ^P!/1".+P!

!

! XUc!

3(,.+,9E!O6015P!�:,!Oo*5!Q"9"!&,!A"1o!D2!%9K,d5!e!t"o9,!7590P�!@U.,*'P!l(1;0"P!H,)P!!

�6++KGpp@@@PL(1;0"PC5*p/:3pcUUZZ\UcXPK-4�P!UZZ_P!

310.C5E!],0.P!951(16*8$4*''1".':$=,8,6(,#$h''*B'P!%-P!A01>!Q5("9,!/10++!0.-!b0+62,,.!%P!!

?,@*0.P!:(160*G!:(M,!</E!UZZZP!/1".+P!

I,,1+LE!O2"4451-P!F#6"CM!:,9C1"K+"5.G!#5@01-!0.!'.+,1K1,+"=,!#6,51>!54!O(2+(1,Pf!<P,$$

H.(,5Q5,(*(1".$"[$9&8(&5,'P!?,@!e51MG!J09"C!J55M9E!UZ_XP!/1".+P!

$55M9E!J,22P!/,01.1'($<P,"5B$[5"0$%*5;1.$("$9,.(,5P!J59+5.E!ADG!&5(+6!%.-E!UZ\WP!!

/1".+P!

$(19+5.E!l510!?,02,P!<P,15$hB,'$b,5,$b*(6P1.;$!"#P!?,@!e51MG!$01K,1!/,1,.."02!!

A5-,1.!O2099"C9E!Vcc^P!/1".+P!

'9+01nE!D.0P!�/010!&,1!A(d,1P�!4",(*'$4",0*'P!/5,+09!/5,*09P!H,)P!X!3,)P!VcUUP!!

�6++KGpp@@@PK5,+09K5,*09PC5*p0.0N"9+01(pK010N9,1N*(d,1�P!

Q,9+,1E!7,),CC0!]P!^,'&'$1.$R&5$b"0?':$h0?"#B1.;$%"#,5.1(B$1.$*$%,V16*.$9".+,.(P!!

J,1M,2,>G!<."=,19"+>!54!O02"451."0E!VccYP!/1".+P!

A0C:5(;022E!:0="-P!<P,$9"5Q"5,*8$H0*;,:$/180O$h(P.";5*QPBO$*.#$(P,$=,.','P!!

/1".C,+5.E!?]G!/1".C,+5.!</E!Vcc^P!/1".+P!

A01M9E!Q0(10!<P!<P,$=21.$"[$(P,$/180:$H.(,56&8(&5*8$91.,0*O$h0?"#10,.(O$*.#$(P,$$

=,.','P!:(160*G!:(M,!</E!VcccP!/1".+P!

ACD1+E!%"2"96P!�A(d,1P�!l$Z,$%*5M"P!&+,0!3,-,10C"o.E!\!A01P!Vcc_P!H,)P!Y!](2>!VcUcP!!

�6++KGpp@@@P9+,0P,9pA<]%7p\A01L5pc_�7,="9+0�Vc\�VcA01L5PK-4�P!

A510E!/0+P!)"&',$"[$)"&','P!J59+5.G!J,0C5.E!UZZ_P!/1".+P!

?,1(-0E!/0)25P!@*$@*0Q*5*$h.$@*$<1,55*$X$T8(&5*'$Z,$%*66P&$4166P&P!J01C,25.0G!!

%-"+51"02!D.-1,9!J,225E!UZZZP!/1".+P!

! XUU!

/01,-,9E!D*m1"C5P!yb1(P$)1'$41'("8$1.$)1'$)*.#Oy$*$-"5#,5$-*88*#$*.#$H('$),5"]!D(9+".G!!

<."=,19"+>!54!#,B09E!UZY\P!/1".+P!

&0"-E!%-@01-!HP!9&8(&5,$*.#$H0Q,51*81'0P!?,@!e51MG!b.5K4E!UZZXP!/1".+P!

&0.+59E!O1"9+".0P!-,.#1.;$(P,$G&8,'$1.$(P,$S&,'($["5$*.$T&(P,.(16$/,0*8,$H#,.(1(B:$$

98*516,$@1'Q,6("5$*.#$9*50,.$-"&88"'*P!?,@!e51MG!/P!Q0.;E!VccWP!/1".+!

&5d0E!%-@01-!HP!=,,21.;$=Q*(1*8$^&'(16,P!A"..,0K52"9G!<."=,19"+>!54!A"..,95+0E!VcUcP!!

/1".+P!

&5d0E!%-@01-!HP!<P15#'Q*6,:$^"&5.,B'$("$@"'$T.;,8,'$*.#$R(P,5$G,*8_*.#_H0*;1.,#$$

48*6,'P![B451-G!J09"2!J20CM@,22P!UZZ^P!/1".+P!

t"201"k5E!'-,0P!FO(0.-5!O5*K1,!<.!%9K,d5fP!:,!Ft(,25!C",;5fE!O52,CC"o.!t"951!!

-,!/5,9j0E!A0-1"-!VccW!

!

O1,0+"=,!H1"+".;!]5(1.029!

75Cj5P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

A01(P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

A0.(,20P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

%2,.0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

A012,.,P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

! XUV!

!

D.+5.",+0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,N!

D(;(9+E!VcUUP!!e(1"*0;(09E!/,1(P!!

D..0),220P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,N!

D(;(9+E!VcUUP!!e(1"*0;(09E!/,1(P!!

O01*,20P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

Q5(1-,9P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

|(B"P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

759"+0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

](0.0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

'90),2P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

Q(LP!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

A01"0!7590P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,N!

D(;(9+E!VcUUP!!e(1"*0;(09E!/,1(P!!

A01"0!]59,4".0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,N!

D(;(9+E!VcUUP!!e(1"*0;(09E!/,1(P!

! XUX!

e,99"C0P!%BC,1K+9!415*!O1,0+"=,!H1"+".;!d5(1.02P!!O5.-(C+,-!),+@,,.!](.,ND(;(9+E!!

VcUUP!!e(1"*0;(09E!/,1(P!!

!

!