SlideShare uma empresa Scribd logo
1 de 173
Baixar para ler offline
Universidade de Aveiro
Ano 2009
Secção Autónoma de Ciências Jurídicas e Políticas
EULÁLIA ENGRÁCIA
PEIXOTO PEREIRA
COMUNICAÇÃO AMBIENTAL – AS ALTERAÇÕES
CLIMÁTICAS NOS JORNAIS
Dissertação apresentada à Universidade de Aveiro para cumprimento dos
requisitos necessários à obtenção do grau de Mestre em Comunicação e
Educação em Ciência, realizada sob a orientação científica da Doutora Anabela
Carvalho, Professora Associada do Departamento de Ciências da
Comunicação da Universidade do Minho.
Apoio financeiro da FCT no âmbito do
projecto de investigação
POCI/COM/56973/2004 “A política das
Alterações Climáticas – Discursos e
Representações”.
Dedico este trabalho ao Simão Vilaverde, à Carla Quintas, à minha mãe e à
minha irmã, pelas horas de dedicação e paciência.
o júri
presidente Prof. Doutor Carlos Alberto Diogo Soares Borrego
professor Catedrático da Universidade de Aveiro
Prof. Doutor Victor Manuel Simões Gil
professor Catedrático Convidado Aposentado da Universidade de Aveiro
Prof. Doutora Anabela Simões Carvalho
professora Associada do Departamento de Ciências da Comunicação da Universidade do Minho
Prof. Doutora Fernanda Paula Martins e Castro
professora Associada do Departamento de Psicologia Social e das Organizações do Instituto
Superior de Ciências do Trabalho e da Empresa – Instituto Universitário de Lisboa (ISCTE-IUL)
agradecimentos O meu mais que sincero obrigada à orientadora deste trabalho, Professora
Doutora Anabela Carvalho, pela enorme tolerância e dedicação. Agradeço
ainda à Professora Doutora Sara Pereira, pela compreensão e abertura
palavras-chave Discursos, alterações climáticas, actores sociais, jornalistas, jornais.
resumo
abstract
A presente dissertação é um contributo para o estudo da comunicação das
alterações climáticas, tomando como ponto de partida os artigos publicados
nos jornais Público e Correio da Manhã no primeiro trimestre de 2007,
aquando da publicação do Sumário Executivo do quarto relatório do Painel
Intergovernamental para as Alterações Climáticas. A partir da análise de textos
jornalísticos e da realização de entrevistas semi-directivas a actores sociais e
jornalistas envolvidos na produção de textos acerca das alterações climáticas,
pretende-se aqui avançar na compreensão do processo de produção do
discurso mediatizado e das percepções mútuas de actores sociais e
jornalistas.
This master thesis offers a contribution to the study of communication on
climate change, based on news articles published in the newspapers Público
and Correio da Manhã from January to March 2007. This time frame
corresponds to the publication of the Summary for Policymakers of the 4th
Assessment Report of the Intergovernmental Panel on Climate Change.
Through the analysis of journalistic texts and semi-structured interviews with
social actors and journalists involved in the production of media texts on climate
change the thesis aims to further the understanding of the process of
production of mediated discourse and of mutual perceptions of social actors
and journalists.
!"#$%&
'()*+,-./01/0"+2.#,34.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
'()*+,-./001/5,(#2.6/+&72$%.6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#
"!$%$&'()*+,*$*$%$*-.&/%$.0(1)2%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "
!"!#$%&'()*+,-%#+&.)/(0+1#&/2)+0)3+2+""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""4
!"5#67)80/#9%:(+1)8&%#+&.)/(0+1;"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !!
3!$&-$&1,*4&/5*-$21)'6,)2&-$*$&-$+%,72)&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#$
5"!#<%0)*)+:#+8#+10/:+,=/8#*1)&>0)*+8#? #*:)0@:)%8#/#*%(80:+(A)&/(0%8"""""""""""""""""""""""""""""!B
5"5#C8#&/2)+#/#+8#D%(0/8#2/#)(D%:&+,-%""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" 5E
'()*+,-./0001/5,&6+8&6/9&+.#.-7:$%(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!38
"!$&+61)-*$9%-$&4,):%-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! %&
3!$*-,;9%$2%'$&2,%4*-$-%2)&)-$*$<%4+&1)-,&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!%'
'()*+,-./0;1/<$6%,26./9&#$=+$%./6.>2&/(-+&2(38&6/%-$9=+$%(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!=>
"!$9&9%-$?;&+,),&,)@%-$-%(4*$,*A,%-$<%4+&17-,)2%-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!%(
3!$4*.4*-*+,&/B%$9&-$&1,*4&/5*-$21)'6,)2&-$+%$!"#$%&'$*$+%$&'(()%'*+,*-,./0!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!')
'()*+,-./;1/?/)&26)&%+$@(/#(6/A."+&6/#&/$"A.29(34./!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!>"
"!$.*42*./B%$-%(4*$&1,*4&/5*-$21)'6,)2&-$*$-;&$$'*9)&,)C&/B%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!$#
3!$-*4$D%+,*$9*$)+D%4'&/B%$-%(4*$&1,*4&/5*-$21)'6,)2&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!()
=!$%$<%4+&1)-'%$*$%-$<%4+&1)-,&-$@)-,%-$.*1%-$&2,%4*-$-%2)&)-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!((
'()*+,-./;01/?/)&26)&%+$@(/#.6/B.2"(-$6+(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! #8
"!$%$<%4+&1)-'%$D&2*$&%-$9*-&D)%-$9&-$&1,*4&/5*-$21)'6,)2&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"(
3!$-*1*22)%+&4E$?;*$,*'&-$*$?;*$D%+,*-$9*$)+D%4'&/B%F!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#&)
5"!#F#:/*%1G+#2+#)(D%:&+,-%""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!HI
5"5#F8#D%(0/8#2/#)(D%:&+,-%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !HJ
'()*+,-./;001/'."%-,68&6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!""3
C$>-$.:2(A$(/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ""#
?"&D.6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"3G
E$6+(/#&/A$:,2(6
! "#$%&'()*(+ , - . "'(/.(0 "1%!' 2 (2 ' 3 " . (041. "0 56. 2 (&4% - #1% &0 2 (
7 8 34%&0/' 2 (7'" (9'"+ 04(
:90+.%"';- 0 " 5'(<==>?@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ AB
! "#$%&'(<*(0 "1%!' 2 (/'(!"###$%"&'(&)(*+,(2 . 4. & &%' +0/' 2 (70" 0(0+ #4% 2 .
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@C=
! "#$%&'(A*(0 "1%!' 2 (/'(-./0%!"(2 . 4. & &%'+ 0/' 2 (70" 0(0 + #4% 2 . @@@@@@@@@@@@@@@C=
F?CGE?/)H/?IF0JKL/IG'KEM0<KL/G/LGEG''0KN?<KL/O?I?/?NPE0LG/QR?NG0IKST?IUK/VWWXY(@@@@@@@@@@@@@AD
F?CGE?/VH/OIGLGNU?/<KL/?'FKIGL/LK'0?0L/NKL/FGZFKL/<K/!"#$%&'/G/<K/&'(()%'*+,*-,./0(@@@@@@@C)
!"#!$%&'()*+'
!"#$%&'()*+,-."/.0".'+($.12(0"-',)*+,-.0"34"#%$5(6+7$.4"7)."/.0").,0"/(0.8,.6+(0"/%"+()#%"
#$(0(6+(9":(6/%"7)".0076+%"/(-'.$./.)(6+("/("$.,;".)&,(6+.'4"6<%"0("#%/("/(,=.$"/(".'($+.$"
#.$.".".&$.6>?6-,."("-%)#'(=,/./("@7("(65%'5(9"A(60.6/%"()"+%/%"%"(0#(-+$%"@7("5.,"/(0/(".0"
-.70.0"B0"-%60(@7?6-,.0"/%0"8(6C)(6%0".00%-,./%0"B0")7/.61.0"-',)*+,-.0">'%&.,04"3"+%/%"7)"
'(@7("/(".0076+%04"*$(.0"/("(0+7/%"("-.)#%0"/("-%6D(-,)(6+%"@7("0(".&$("E"/(0/("."-,?6-,.4"
,65(0+,>.6/%".0"-.70.0"("8C$)7'.0"#.$.")('D%$"$(0#%6/($".%0",)#.-+%0"/.0".'+($.12(0"-',)*+,-.0"
(".0"(0+$.+3>,.0"/("),+,>.1<%"/%0")(0)%0F"/%".)&,(6+(4"B"#%'G+,-.4"#.00.6/%"#('."(-%6%),."H"
,6/I0+$,.4".>$,-7'+7$.4"0(-+%$"(6($>3+,-%"H4"6<%"(0@7(-(6/%".0"-,?6-,.0"0%-,.,09
J " 6% " @7./$% " /(0+. " $(/( " ,6+$,6-./. " /( " 8.-+%$(0 " ,6+($E " ( " -%$$('.-,%6./%0 " @7( " 0( " #$%/7; " ."
,65(0+,>.1<%".-($-."/%0"8(6C)(6%0"/,5($0%0"@7("6%0"I'+,)%0".6%0"5?)"0(6/%".00%-,./%0"B0"
.'+($.12(0"-',)*+,-.09"!",65(0+,>.1<%"#$%/7;,/."6."*$(."#($),+,7"@7("0(".+,6>,00("%"-%60(60%"
-,(6+G8,-% "$('.+,5.)(6+(" . "/,5($0%0 ".0#(-+%0 "/% "-%6D(-,)(6+% "0%&$( ".0" .'+($.12(0" -',)*+,-.0"
.6+$%#%>36,-.09"K.0"I'+,).0"/7.0"/3-./.0"."@7(0+<%"8%,E0("(0+(6/(6/%"."+%/.0".0".$(6.0"/."
0%-,(/./(4"0%&$(+7/%"."#.$+,$"/%")%)(6+%"()"@7(">.6D%7"(=,0+?6-,."#%'G+,-.9
L"+$.&.'D%"@7(".@7,"0(".#$(0(6+."#$(+(6/(".6.',0.$".'>7).0"/,)(602(0"/."-%)76,-.1<%"/.0"
.'+($.12(0"-',)*+,-.0"()"A%$+7>.'4"."#.$+,$"/%"+$.+.)(6+%"6%+,-,%0%"(8(-+7./%"#%$"/%,0"M%$6.,04"
/,$(--,%6./%0 " #.$. " /%,0 " 0(>)(6+%0 " /( " #I&',-% " /,0+,6+%0N " % "!"#$%&'" ( " % "('))*%' + ,- + .-/019"
A$(+(6/(E0( " @7( " (0+. " /,00($+.1<%4 " .&$,6/% " . " #$%&'().+,;.1<% " () " /,5($0%0 " 0(6+,/%04 " #%00."
-%6+$,&7,$"#.$."%").#(.)(6+%"/.0"6%+G-,.0"@7("0("(0-$(5()"0%&$(".0")7/.61.0"/%"-',).4"%0"
.-+%$(0"0%-,.,0"@7("6('.0"07$>()4"%"-%6D(-,)(6+%"/.0"07.0"#($-(#12(0"0%&$(".")(/,.+,;.1<%"/."
@7(0+<%"("/.0"#($-(#12(0"/%0"M%$6.',0+.04"0()"#($/($"/("5,0+.".".6*',0("/.0"/,8($(61.0"@7("
#%00.)"%-%$$($"6."-%)#%0,1<%"/.0"6%+G-,.0"#%$"8%$1."/."6.+7$(;."/%0"C$><%0"/("-%)76,-.1<%"
0('(--,%6./%0"#.$."%&M(-+%"/("(0+7/%9"O.$()%0"/("0(>7,/."7)."&$(5(".#$(0(6+.1<%"/%"-%6+(=+%"
D,0+C$,-%"(",60+,+7-,%6.'"/."#$%&'()*+,-."/.0".'+($.12(0"-',)*+,-.09
" !" '(>,+,).1<% " /% " 0.&($ " #$%/7;,/% " 0%&$( " (0+. " #$%&'()*+,-. " 3 " ,60+,+7-,%6.',;./. " .+$.530 " /."
(=,0+?6-,."/("7)"%$>.6,0)%",6+($6.-,%6.'"6.0-,/%"()"PQRR".%".&$,>%"/%"A$%>$.)."/.0"K.12(0"
S6,/.0"#.$."%"!)&,(6+("TAKS!U"("/."L$>.6,;.1<%"V76/,.'"/("V(+(%$%'%>,."TLVVU"H"%"A.,6('"
W6+($>%5($6.)(6+.'"#.$.".0"!'+($.12(0"X',)*+,-.0"TW6+($>%5($6)(6+.'"A.6('"%6"X',).+("XD.6>("H"
WAXXU4 " -7M%0 " $('.+C$,%0 " 0<% " 7) " ,60+$7)(6+% " ,)#%$+.6+( " /( " )(/,.1<% " (6+$( " % " -%6D(-,)(6+%"
-,(6+G8,-% " ( " . " #%'G+,-.9 " L " $('.+C$,% " ).,0 " $(-(6+( " >.6D%7 " 5,0,&,',/./( " 6% " ,6G-,% " /( " YZZ[ " ( " %"
$(-%6D(-,)(6+%"/."07.",)#%$+6-,."'(5%7"."@7("%"%$>.6,0)%"8%00("'.7$(./%"-%)"%"A$3),%"K%&('"
/."A.;4"$(#.$+,/%"-%)"%"(=E#%'G+,-%"-%65($+,/%"()".-+,5,0+."/."-.70."-',)*+,-.4"%"6%$+(E.)($,-.6%"
!'"]%$(9
L0 " $('.+C$,%0 " /% " WAXX " -%60+,+7() " 0G6+(0(0 " /% " -%6D(-,)(6+% " -,(6+G8,-% " $('.-,%6./% " -%) " .0"
.'+($.12(0"-',)*+,-.0"@7("0<%".-+7.',;./.0"-%)",6+($5.'%0"/("-($-."/("-,6-%".6%09"!",65(0+,>.1<%"
#$%/7;,/."6(0+."*$(."3"07M(,+."."$(5,0<%"(".5.',.1<%".#7$./.0"("-%)#,'./."6%0"$(8($,/%0"$('.+C$,%09"
L"WAXX"/,5,/(E0("()"+$?0"]$7#%0"/("^$.&.'D%9"L"]$7#%"/("^$.&.'D%"W"-(6+$.E0("0%&$("%0".0#(-+%0"
!
-,(6+G8,-%0"/.0")7/.61.0"/%"-',).4"%"]$7#%"WW"/(&$71.E0("0%&$("%0".0#(-+%0"0C-,%E(-%6C),-%04"
-%)"?68.0("6%0",)#.-+%0"("57'6($.&,',/./(04"(4"#%$"8,)4"%"]$7#%"WWW"(0+7/.".0"8%$).0"/("-%)&.+("
B0"(),002(0"/(">.0(0"-%)"(8(,+%"/("(0+78.4"/.6/%"%$,>()"."%$,(6+.12(0"0%&$(")(/,/.0"@7("
#%/()",65($+($".0")%/,8,-.12(0"6%"0,0+()."-',)*+,-%"/."^($$.4".00,)"-%)%"8%$)7'.".0")(/,/.0"/("
./.#+.1<%"B0")7/.61.0"@7("%-%$$()"M*"("@7("0($<%".>$.5./.0"6%"87+7$%9"
!'3) " /( " 0($() " 7) " ,)#%$+.6+( " ('()(6+% " .>$(>./%$ " ( " >($./%$ " /( " -%60(60% " () " +%$6% " /%"
-%6D(-,)(6+%"-,(6+G8,-%")7/.61.0"/%"-',).4"%0"$('.+C$,%0"/%"WAXX"0<%"+.)&3)"%"$(8($(6-,.'"#.$."
.".-1<%"#%'G+,-.",6+($6.-,%6.'9
_(0/("PQR[4"0%&$(+7/%4"/(7E0(",6G-,%"."7)"#$%-(00%"/(".#$%=,).1<%",6+($6.-,%6.'"B"#$%&'()*+,-."
/%"-',).">'%&.'9"K."`70+$,."("()"W+*',."/(-%$$($.)"(6-%6+$%0",6+($6.-,%6.,0"6%0"@7.,0"8%$.)"
'.61./.0 " .0 " #(/$.0 " /( " +%@7( " #.$. " . " 5,0,&,',/./( " /% " .@7(-,)(6+% " >'%&.'4 " % " ()&$,<% " /.0"
#$(%-7#.12(0 " #%'G+,-.0 " () " +%$6% " /% " #$%&'().9 " A%7-% " /(#%,04 " . " @7(0+<% " -%60(>7,7 " >.6D.$"
078,-,(6+("$('(56-,."#.$."0($"/,0-7+,/."6."!00()&'(,.E]($.'"/.0"K.12(0"S6,/.09"K."0(@7?6-,."
/(0+(0"#$,)(,$%0"(08%$1%0"07$>,7"%"WAXX9"!"5%;"/("-%).6/%"#.$.".".-1<%"8%,"/./."#('%"#$,)(,$%"
$('.+C$,%"/%"WAXX4"#7&',-./%"()"PQQZ4"6%"@7.'"-(6+(6.0"/("-,(6+,0+.0"'.61.5.)"%".#('%"B"+%)./."
/("#%0,12(0"(")(/,/.0"#.$."+$.5.$"%".@7(-,)(6+%"/."^($$.9
L"/%-7)(6+%"/("$(8($?6-,.")76/,.'"#.$."',/.$"-%)"+%/.0"."#$%&'()*+,-.0"/.0")7/.61.0">'%&.,0"
/%"-',)."8%,"'.61./%"6%"(6@7./$.)(6+%"/."X,)(,$."/."^($$.4"()"PQQY4"@7("/(-%$$(7"6%"a,%"/("
b.6(,$%4"+.)&3)"-%6D(-,/."-%)%"X,)(,$."/%"a,%"%7"a,%cQYN"."X%65(61<%"d7./$%"/.0"K.12(0"
S6,/.0"#.$.".0"!'+($.12(0"X',)*+,-.0"T2/%3*,+4-3%'/5+6)-7*8')9+('/:*/3%'/+'/+($%7-3*+(0-/;*+
H"SKOXXXU4"/.6/%"%$,>()"."$(76,2(0".67.,0"-D.)./.0"X%68($?6-,.0"/.0"A.$+(0"TXLAU"6.0"
@7.,0"0("0(6+.)"B")(0."%0"(65%'5,/%0"6."X%65(61<%"d7./$%9
K."-$%6%'%>,."/.0"a('.12(0"W6+($6.-,%6.,0"0%&$(".'+($.12(0"-',)*+,-.04"%").$-%"D,0+C$,-%"%-%$$(7"
-%)"."-3'(&$("ef"X%68($?6-,."/.0"A.$+(0"/("d7,%+%"TXLAeU"@7("/(-%$$(7"6."-,/./("M.#%6(0."@7("
'D("/*"6%)(4"()"PQQ[9"L0"'G/($(0")76/,.,0"$(#$(0(6+./%0"6."$(76,<%".-%$/.$.)".0">$.6/(0"
',6D.0".-($-."/.0"(),002(0"/(">.0(0"-%)"(8(,+%"/("(0+78.9"O,-%7"(0+.&('(-,/%"-%)%"%"A$%+%-%'%"
/("d7,%+%"/."X%65(61<%"d7./$%"/.0"K.12(0"S6,/.0"#.$.".0"!'+($.12(0"X',)*+,-.09":(>7,7E0("7)"
'%>%"#($G%/%"/("6(>%-,.12(0"@7("(6+$%7"()"5,>%$"()"O(5($(,$%"/("YZZg"T%,+%".6%0"/(#%,0"/%"
'.61.)(6+%U4").0"0()"-%6+.$"-%)"."./(0<%"/%"#.G0"$(0#%60*5('"#%$"-($-."/("7)"@7.$+%"/.0"
(),002(0".+)%083$,-.0"/%")76/%"H"%0"h0+./%0"S6,/%0"/."!)3$,-.9
S)."/.0"X%68($?6-,.0"/.0"A.$+(0").,0",)#%$+.6+(0"8%,"."XLAi4"@7("/(-%$$(7"()"j.,.4"YZZZ9"K."
5,$.>()"/%"03-7'%4"%0"%&M(-+,5%0"($.)".)&,-,%0%04").0".0"6(>%-,.12(0".-.&.$.)"#%$"8$.-.00.$9"!"
$(76,<%"#$%00(>7,7"6%".6%"0(>7,6+(4"()"k%6.4"()"b7'D%"/("YZZP9"!").$.+%6."/("6(>%-,.12(0"/("
lR"D%$.0"-%60(-7+,5.0"'(5%7"."7)".-%$/%"(6+$("%0"#.$+,-,#.6+(0"@7("8,-%7"-%6D(-,/%"-%)%"%0"
!-%$/%0"/("k%6.9"L"+(=+%"8,6.'"8%,"('.&%$./%"."#.$+,$"/%0"@7.+$%">$7#%0"/("+$.&.'D%"@7("/,0-7+,$.)N"
O,6.61.0F"V(-.6,0)%0F"!/(@7.1<%"("S0%"/%":%'%F"V7/.61."/("S0%"/%":%'%"("O'%$(0+.9"!0"
L$>.6,;.12(0"K<%E]%5($6.)(6+.,0"#$(0(6+(0"#$%)%5($.)"%"/(&.+("-%)"5,0+.".%"/,*'%>%"K%$+(E
:7'"0%&$(".0".'+($.12(0"-',)*+,-.09
"
!'>7).0"@7(0+2(0"/(,=./.0"#(6/(6+(0"+$.60,+.$.)"#.$."."XLA[4"@7("/(-%$$(7"()"V.$$.@7(=(4"
()"L7+7&$%"/("YZZP9"!"-%68($?6-,."876-,%6%7"-%)%"#$(#.$.1<%"#.$."."X,)(,$."/."^($$.4").$-./."
#.$. " b%.6(0&7$>%4 " 6% " .6% " 0(>7,6+(9 " K. " XLAR4 " @7( " +(5( " '7>.$ " () " YZZY4 " () " K%5. " _(D',4"
(0+.&('(-(7E0( " ',>.1<% " (6+$( " %0 " -%6-(,+%0 " /( " /(0(65%'5,)(6+% " 070+(6+*5(' " ( " /( " .'+($.12(0"
-',)*+,-.0"("."/(-'.$.1<%"8,6.'"/."$(76,<%".#('%7"B"(8(-+,5."$(/71<%"/.0"(),002(0"/("/,C=,/%"/("
-.$&%6%"("B"/,),67,1<%"/."57'6($.&,',/./("B0".'+($.12(0"-',)*+,-.09
h)"YZZl4"()"k7(6%0"!,$(04"6."XLAPZ4"8%,"/,0-7+,/%"%"87+7$%"/%"#$%+%-%'%"/("d7,%+%9"O%,"."I'+,)."
-%68($?6-,.".6+(0"/."(6+$./."()"5,>%$"/%"#$%+%-%'%"/("d7,%+%"("%0"Pi[">%5($6%0"$(#$(0(6+./%0"
+,5($.)"%-.0,<%"/("+%).$"/(-,02(0"("./%#+.$.)"/,5($0.0"-%6-'702(0"()"$('.1<%".".0076+%0"-%)%"
%"70%"/%0"0%'%0"(".")7/.61."/("70%"/%0"0%'%0"("8'%$(0+.0F")(-.6,0)%"8,6.6-(,$%"/."SKOXXXF"
-.#.-,/./("/(".-1<%F"(8(,+%0"./5($0%0"("./.#+.1<%"("7)".$+,>%"/."SKOXXX"0%&$("(/7-.1<%4"
8%$).1<%"("%#,6,<%"#I&',-."TWAXXN"YZZRU9
!"XLAPP"/(-%$$(7"6%"8,6.'"/("YZZg4"()"V%6+$(.'"TX.6./*U"("."XLAPY"6%"8,6.'"/("YZZi4"()"
K.,$%&,"Td736,.U9"h)"6(>%-,.1<%"(0+(5("."-%6+,67,/./("/%0".-%$/%0",6+($6.-,%6.,0"#.$.".'3)"/%"
',),+("/%"#$%+%-%'%"/("d7,%+%"("6(0+."-%68($?6-,.".0"#.$+(0"/(-,/,$.)"@7("D.5($,."-%6+,67,/./("
/.0")(/,/.0"@7("8,;($.)"#.$+("/%"/%-7)(6+%4"-%)".0"/(5,/.0"./.#+.12(09
!"$(76,<%"@7("0("0(>7,7"/(-%$$(7"6."`0,.4").,0"#$(-,0.)(6+("6."-,/./("/("k.',4"W6/%630,.4".%"
'%6>%"/("/7.0"0().6.0"Te"."Pl"/("_(;()&$%"/("YZZ[U9"!"XLAPe"8(;E0("6."-%6+,67,/./("/."
#$(/(-(00%$.4"-%)"5,0+."."(6-(+.$"7)"-%)#$%),00%",6+($6.-,%6.'"$('.+,5%"B0")(/,/.0"."5,>%$.$"
.#C0"-./7-.$"%"A$%+%-%'%"/("d7,%+%4"()"YZPY9"L"A'.6%"/("!-1<%"('.&%$./%"6."XLAPe"#$(5,."%"
/(-7$0%"/("7)"#($G%/%"6(>%-,.'"."/(-%$$($".+3".%"8,6.'"/("YZZQ4"-7M%"%&M(-+,5%"0($,."%"/("/(-,/,$"
(0+$.+3>,.0"#.$."070+($".0")7/.61.0"/%"-',).".#C0"YZPY9
K.")(0)."',6D."/("-%65($0.12(0",6+($6.-,%6.,04"."XLAPl"/(-%$$(7"7)".6%"/(#%,04"6."A%'C6,.9"
_(0+."$(76,<%"0.,7"7)"-%)#$%),00%"/.0"#.$+(0"()"'(5.$"B"-%68($?6-,."/("X%#(6D.>."YZZQ"7)"
+(=+%"#.$."/,0-700<%"(".-%$/%9"!0"-%6-'702(0").,0"$('(5.6+(0"@7("0.G$.)"/."XLAPl"/,;()"
$(0#(,+% "B" .&($+7$." .% ".-(00%"/%0" #.G0(0" ()"/(0(65%'5,)(6+%" .% "O76/% "/("!/.#+.1<%" /%"
A$%+%-%'%"/("d7,%+%9
!"#$C=,)."-%65(61<%4"."XLAPg4"(0+*").$-./."#.$."%0"/,.0"["."PR"/("_(;()&$%"/("YZZQ4"()"
X%#(6D.>.9 " "!" XLAPg " 3 " -%60,/($./. " -$7-,.' " #.$. " /(-,/,$ " @7( " 87+7$% " +($* " . " '7+. " -%6+$. " .0"
)7/.61.0"/%"-',).".00,)"@7("(=#,$("%"A$%+%-%'%"/("d7,%+%4"()"YZPY9"L0"+$.&.'D%0"/("#$(#.$.1<%"
#.$."." "-%65(61<%"/("X%#(6D.>."/(-%$$()".%"'%6>%"/%".6%"/("YZZQ9"S)"/(0+(0")%)(6+%04"
/(0+,6./%"."'.61.$"&.0(0"/("+$.&.'D%"#.$."."X%68($?6-,.4"+(5("'7>.$"6.",'D.",+.',.6."/.":,-G',.4"/("
YY"."Yl"/("!&$,'9"_7$.6+("+$?0"/,.0"(0+,5($.)"$(76,/%0"%0"'G/($(0"/.0"#.0+.0"/%"!)&,(6+("/%0"%,+%"
#.G0(0").,0",6/70+$,.',;./%0"/%")76/%"T]$<Ek$(+.6D.4"W+*',.4"O$.61.4"!'().6D.4"hS!4"X.6./*4"
b.#<%"("aI00,.U"/%0"#.G0(0"()"/(0(65%'5,)(6+%"TXD,6.4"m6/,.4"k$.0,'U4"$(#$(0(6+.6+(0"/."S6,<%"
h7$%#(,."("/.0"K.12(0"S6,/.04").,0"."_,6.).$-."6."@7.',/./("/("#.G0".68,+$,<%"/."XLAPg9"!0"
-%65($0.12(0"/(,=.$.)".,6/."B"5,0+.".0"-',5.>(60"(6+$("%0"#.G0(09
!"&$(5(".#$(0(6+.1<%"-$%6%'C>,-."/%0"(6-%6+$%0",6+($6.-,%6.,0".%").,0".'+%"6G5('",6/,-."@7("."
#$%&'()*+,-. " /.0 " .'+($.12(0 " -',)*+,-.0 " 8%, " >.6D.6/% " $('(56-,. " #%'G+,-. " +.' " @7( " @7.0( " /7.0"
#
-(6+(6.0 " /( " h0+./%0" #.$+,-,#.) " 6.0 " $(76,2(0 " ( " 0(6+()E0( " -%)#(',/%0 " . " .007),$"
,6+($6.-,%6.')(6+("$(0#%60.&,',/./(0"#%$"7)"$,0-%"@7("3">'%&.'4".007),6/%"@7(4"0()".".+,+7/("
-%6-($+./."/("+%/%04"6<%"#%/($<%"(=,0+,$"#$%>$(00%09
L"$(-%6D(-,)(6+%"/%"8(6C)(6%4"0C"#%$"0,4"(=,>("7)"#%0,-,%6.)(6+%"#%'G+,-%"T("3+,-%U"5%'+./%"#.$."
%"-%)&.+("B0"-.70.0"("#.$."."),6,),;.1<%"/%0"$,0-%0"#%+(6-,./%0"#('.0".'+($.12(0"-',)*+,-.09"L"
@7.$+%"$('.+C$,%"/%"WAXX".00,)"%"/(+($),6.9"L"-%6D(-,)(6+%"-,(6+G8,-%".-($-."/."(=,0+?6-,."("
>$.5,/./("/.0".'+($.12(0"-',)*+,-.0"+%$6%7E0(").,0"-%60(607.'9"A%$"0(7"+7$6%4".".-1<%",6/7;,/."
#('."+%)./."/("/(-,0<%".%"6G5('"#%'G+,-%"+($*".0"07.0",)#',-.12(0"0%&$("."5($+(6+("(-%6C),-."("
0%&$("."5,/."@7%+,/,.6."/%0"-,/./<%09"
!0 " ).-$%E/(-,02(04 " .0 " )(/,/.0 " -%6M(-+7$./.0 " ( " (8(-+,5./.0 " #('%0 " /(-,0%$(0 " #%'G+,-%04 " +?)"
$(#($-7002(0"6%0")%/%0"/("5,/."/.0"#%#7'.12(0"67)."(0-.'.".'.$>./.4".%",)#%$E0(".+$.530""/."
D,($.$@7,." 5($+,-.'"/." 0%-,(/./(9" V.0" .0" .'+($.12(0"-',)*+,-.0" +.)&3) ",)#',-.)" %" ,6/,5G/7%"
(6@7.6+%"76,/./(")G6,)."/("-%60+$71<%"/."0%-,(/./(4".0"(0-%'D.0",6/,5,/7.,0"("6.0"$(0%'712(0"
-%60+.6+(0"@7("6(-(00,+."+%).$9"_(").,%$"$('(5%4"6(0+."@7(0+<%4"0<%".0"%#12(0" "+%)./.0"/("
.-%$/%"-%)"(0+,'%0"/("5,/.4".0"(0-%'D.0"/(">$.6/("("/("#(@7(6%"-%607)%"/."5,/."@7%+,/,.6.9"!"
/(60,/./("/."#$%&'()*+,-.".7)(6+."@7.6/%"0(".007)("@7(".0"-%60(@7?6-,.0"/.0".'+($.12(0"
-',)*+,-.0"6<%"0("-%)#./(-()"-%)"8$%6+(,$.0"6.-,%6.,0"(".#('.)"B".-1<%"-%6-($+./."()"+($)%0"
,6+($6.-,%6.,09"
!#(0.$"/%"-%60(60%"-,(6+G8,-%"$('.+,5.)(6+("B0".'+($.12(0"-',)*+,-.04"6<%"#%/("0($"6(>',>(6-,./%"
%"#%+(6-,.'"/("-%68',+%"@7("#%/(",$$%)#($"6%"+(-,/%"0%-,.'"@7.6/%"0("+$.+."/("/.$"$(0#%0+."."7)."
#$%&'()*+,-."/("+.'"8%$).".&$.6>(6+(9"!0"#$(002(0"0<%"5.$,./.0"("(=($-()E0("/("8%$).").,0"%7"
)(6%0"(8(-+,5.9"h=()#'%".-.&./%"3"%".&.6/%6%"/%0"h0+./%0"S6,/%0"/%"#$%+%-%'%"/("d7,%+%4"
/7$.6+("%"-%607'./%"/("](%$>("n9"k70D4"()"YZZP4"0%&"."M70+,8,-.1<%"+.=.+,5."/."0.'5.>7.$/."/%0"
,6+($(00(0"(-%6C),-%0"/%"#.G09"L")(0)%".-%6+(-(7"-%)"."!70+$*',.9"h6+$(+.6+%4"%0"hS!"8%$.)"
/.6/%")%0+$.0"/(".'>7).".&($+7$."B0"6(>%-,.12(0"(".%"-%)&.+("B0".'+($.12(0"-',)*+,-.0".,6/."
/7$.6+("."!/),6,0+$.1<%"k70D4"-%)%"8%,"%"-.0%"/.0"#%0,12(0"./%#+./.0"6."XLAPe4"()"k.',9"
a(-%$/(E0("@7("%0"hS!"($.)4"B"/.+."/(".&.6/%6%"/%"A$%+%-%'%"/("d7,%+%4"%").,%$"(),00%$"/("
>.0(0"-%)"(8(,+%"/("(0+78.9"!"0,+7.1<%".'+($%7E0("(6+$(+.6+%"("%-7#.)".>%$."%"0(>76/%"'7>.$""6."
+.&('. " /%0 " ).,%$(0" #%'7,/%$(0" /. " .+)%08($.4 " 6<% " #%$@7( " .0 " 07.0 " (),002(0 " +(6D.) " 0%8$,/%"
>$.6/(0".'+($.12(04").0"#%$@7("."XD,6.4"(6@7.6+%"(-%6%),."()($>(6+(4".7)(6+%7"%0"0(70"
6G5(,0"/("(),00<%"/(">.0(0"-%)"(8(,+%"/("(0+78.9
d7.6/%"0("+%$6."6(-(00*$,%"-%65($+($".0"-%6-'702(0"/%0"(0+7/%0"-,(6+G8,-%0"()".-1<%"#%'G+,-."(4"
).,0".,6/.4"@7.6/%"D*"@7(".#',-.$".0")(/,/.0"./%#+./.0"#%',+,-.)(6+(4".0"5%;(0"/,00%6.6+(0"
.-.&.)"#%$",$$%)#($9":(M."/.",6/I0+$,.4"/.".>$,-7'+7$.4"/%"0(-+%$" (6($>3+,-%"%7")(0)%"/.0"
.+,+7/(0"/,0#',-(6+(0"/%0"-,/./<%04".0"/,0$7#12(0"#%/()"/(0(6-./(.$E0("M76+%"/("7)">$7#%"/("
.-+%$(0"0%-,.,09"!7)(6+.".".+$.-+,5,/./(")(/,*+,-."/."#$%&'()*+,-."/.0".'+($.12(0"-',)*+,-.04"0(M."
#('."6%+,-,.&,',/./("/%"5.'%$"6%+G-,."o-%68',+%p4"0(M."#('."#$%-7$."/%"(@7,'G&$,%"6.0"6%+G-,.04"@7("
.-.&."#%$"/,876/,$".6+.>%6,0)%0"@7("0("#%0,-,%6.)"6%"+(-,/%"0%-,.'4"6%"@7./$%"/%"#($).6(6+("
-%68',+%"/(",6+($(00(09"!",6+$%/71<%"/(")(+.0"/("(),002(0"/("XLY"(".",6+$%/71<%"/("7)")($-./%"
$
/("-%)3$-,%"/("(),002(0"/("6G5('"(7$%#(7"TXhqhU">($.)".'>7).0"$(0($5.0"#%$"#.$+("/%0"+,+7'.$(0"
/.0",6/I0+$,.0"@7("0<%"%&$,>./.0".",6+(>$.$"7)")(-.6,0)%"/("-%6+$%'%"/(00.0")(0).0"(),002(0"
.+)%083$,-.09
L"$(-%6D(-,)(6+%">(6($.',;./%"/%"8(6C)(6%4"0C"#%$"0,4"(=,>("7)"#%0,-,%6.)(6+%"#%'G+,-%"5%'+./%"
#.$. " % " -%)&.+( " B0 " -.70.0 " ( " #.$. " . " ),6,),;.1<% " /%0 " $,0-%0 " #%+(6-,./%0 " #('.0 " .'+($.12(0"
-',)*+,-.09"!"$(0#%60.&,',/./("#%'G+,-."6<%"#%/("0($"/(6(>./.4"7)."5(;".+,6>,/%"%"#.+.).$"/%"
-%60(60%"-,(6+G8,-%"()"$('.1<%"."7)"#$%&'().">'%&.'"("-7M.0"-%60(@7?6-,.0".+,6>()"+%/.0".0"
;%6.0"/%">'%&%N".0"@7("-%6+$,&7()").,0"(".0"@7("-%6+$,&7()")(6%0"#.$."%"$%'"/.0"-.70.0"/.0"
.'+($.12(0"-',)*+,-.0"0(6/%"@7("6.0"I'+,).0"%0",)#.-+%0"0($<%4"()")7,+%0"-.0%04"#,%$(0"/(5,/%"B0"
$(0#(-+,5.0"'.+,+7/(09"!0"-%60(@7?6-,.0"/.0")7/.61.0",6/7;,/.0"6."-%)#%0,1<% "@7G),-."/."
.+)%08($."6<%"0("-%)#./(-()"-%)"8$%6+(,$.0"6.-,%6.,0"(".#('.)"B".-1<%"-%6-($+./."()"+($)%0"
,6+($6.-,%6.,09"h6+$%6-.)".@7,"#$%&'().0"/("6.+7$(;."3+,-."$('.+,5%0"B"$(0#%60.&,',/./("/%0"
).,%$(0"#%'7,/%$(0"("B0"-$C6,-.0"/,8($(61.0"(6+$("$,-%0"("#%&$(04"-%)"+%/.0".0"/(0,>7.'/./(0"@7("
/(-%$$()"/%"8.-+%"/("-%6+$,&7G$()")(6%0"#.$."%"8(6C)(6%"("/("(0+.$()"#%+(6-,.')(6+(").,0"
/(0#$%+(>,/%0"8.-("B0").6,8(0+.12(0"/.0".'+($.12(0"/%"-',).">'%&.'9
! " #$(0(61. " /. " )7'+,/,)(60,%6.',/./( " /.0 " )7/.61.0 " -',)*+,-.0 " 6% " (0#.1% " #I&',-% " >.6D."
$('(56-,.4"#%$@7.6+%"0("+$.+."/("7)."#$%&'()*+,-."@7("6<%"3"(0+.6@7("("(=+$.5.0."+%/.0".0"
8$%6+(,$.0N"/."X,?6-,.4"/%"!)&,(6+(4"/."A%'G+,-.4"/."h-%6%),.4"/.0"a('.12(0"W6+($6.-,%6.,04"/."
:.I/(4"/%"a,0-%4"/."b70+,1.":%-,.'4"/."J+,-.4"6%"',),+(4"/("+%/.0".0"/,)(602(0"/."0%-,(/./("("/%0"
-%)#$%),00%0"@7("%"0($"D7).6%4"(6@7.6+%"0($"/%+./%"/("$.-,%6.',/./("/(5($*".007),$9
L"#$%-(00%"/("-%60+,+7,1<%"("0(/,)(6+.1<%"/("@7(0+2(0"()"+%$6%"/.0".'+($.12(0"-',)*+,-.0"8(;E0("
/("8%$)."#$%-(007.'4".%"'%6>%"/.0"I'+,).0"+$?0"/3-./.09"K7).").+3$,."6."@7.'"0(",6+($0(-+.)"
/7.0".$(6.04"."X,?6-,."("."A%'G+,-.4"."-%6-%$/6-,.">(6($.',;./."/%")(,%"-,(6+G8,-%"()"$('.1<%"."
7)"/./%"(0#(-G8,-%"/("7)."#$%&'()*+,-."#%/("-%60+,+7,$E0("-%)%"#(/$."/("+%@7("#.$.".".8,6.1<%"
/.0"#%'G+,-.0".)&,(6+.,0"-%65%-./.0"#('%"#$(007#%0+%"-%60(607.',;./%9"L$.4"()").+3$,.0"-%)%"."
/%"$,0-%".)&,(6+.'4"%"-%6D(-,)(6+%"-,(6+G8,-%"3"7)."/.0"#$($$%>.+,5.0"/.0"+%)./.0"/("/(-,0<%".%"
6G5('"#%'G+,-%4"0%&$(+7/%9"!",6-($+(;."-,(6+G8,-."()"$('.1<%"B0"$(.,0"-%60(@7?6-,.0"/.0")7/.61.0"
/%"-',)."3"7)."/.0"-.$.-+($G0+,-.0"@7("#($#.00.)"."@7(0+<%"/.0".'+($.12(0"-',)*+,-.04"#%6+%"/("
#.$+,/."#.$."+%/.0".0"/,0-7002(04"/(&.+(0"("$(87+.12(0"$('.+,5.)(6+("."(0+."+()*+,-.9
L0"#($,+%0"#$%/7;()4" /(0/("%0"#$,)C$/,%0" /. ")%/('.1<%" -',)*+,-.4" $('.+C$,%0" /(0+,6./%0" B0"
.7+%$,/./(0"()"+($)%0"/(".'+($.12(0"-',)*+,-.0".+$,&7G/.0"."-.70.0".6+$%#%>36,-.09"A%$+.6+%4"
/(0/("%0".6%0"PQ[Z"@7(".0"+%)./.0"/("/(-,0<%"6(0+."*$(."0<%".00(00%$./.0"#%$"$('.+C$,%0"@7("
-%)#,'.) " % " -%6D(-,)(6+% " (=,0+(6+( " 67) " $(>,0+% " #.00G5(' " /( " 0($ " -%)#$((6/,/% " #%$ " 6<%"
(0#(-,.',0+.09"L0"#$,)(,$%0"/%,0"/%-7)(6+%0".".&%$/.$"(0+.").+3$,."8%$.)"#$%/7;,/%0"()"PQ[Q"("
PQRe4"6%0"h0+./%0"S6,/%04".00(6+(0"6%"-%6-(,+%0"/("0(60,&,',/./("-',)*+,-.9"!)&%0"+,5($.)"
$(00%66-,.",6+($6.-,%6.'"(".-.&.$.)"#%$"0($",6-'7G/%0"()"/%-7)(6+%0"("#%'G+,-.0"/("5*$,%0"
#.G0(0"(",60+,+7,12(0",6+($6.-,%6.,04"-%)%"3"%"-.0%"/%"WAXX"T5.6"/($":'7,M04"b9"(3+-$<+PQQRU9
L"WAXX"+%)%7"%"#.#('"/(")(/,./%$"(6+$(".0"-%6-'702(0"/%"+$.&.'D%"-,(6+G8,-%"("%"-.)#%"/."
+%)./."/("/(-,02(04"/,0#%6,&,',;.6/%",68%$).1<%".-($-."/%0"$,0-%0"("/.0"-%60(@7?6-,.0"/.0"
%
,68'7?6-,.0".6+$%#%>36,-.0"0%&$("%"0,0+()."-',)*+,-%9"^%$6%7E0("7)")(,%",6+($6.-,%6.'"-%)#'(=%"
/(".00(>7$.$"7)"-%60(60%9
h)"5,6+(".6%0"/("$('.+C$,%04"%"-%6D(-,)(6+%".-($-."/%"0,0+()."-',)*+,-%"("%".#($8(,1%.)(6+%"/%0"
)%/('%0").+()*+,-%0"0%&$("%"-',)."8%,"7)."-%60+.6+("("%0"$('.+C$,%0"+,5($.)"07-(00,5.)(6+("@7("
,6+(>$.$"/./%0"6%5%04").0"%"-%60(60%",6,-,.'"#.$(-("+($E0(").6+,/%"(".+3"+($E0("$(8%$1./%9"!"
D,0+C$,."("."#$(5.'?6-,."/%0"-%60(60%0"-,(6+G8,-%0"+%$6.)"%"-.0%"/.0".'+($.12(0"-',)*+,-.0">'%&.,0"
,6+($(00.6+("#.$."."-%)#$((60<%"/%0"#$%-(00%0".+$.530"/%0"@7.,0"0<%".'-.61./%0"%0"-%60(60%09
!#(0.$"/(" .'>7)."/.",65(0+,>.1<%"-,(6+G8,-."@7("0("8.;"/(0/("0()#$("+(6/($"."$(8%$1.$".0"
8$%6+(,$.0"(6+$("%0"-.)#%0"/."-,?6-,."("/."#%'G+,-.4"D*"-,(6+,0+.0"/("*$(.0"#%',+,-.)(6+("$('(5.6+(0"
@7("$(-'.).)"@7("%0"-%60(60%0"-,(6+G8,-%0"0<%"7)."#(1."876/.)(6+.'"#.$."."'(>,+,).1<%"/.0"
)(/,/.0"("/(-,02(0"#%'G+,-.04"0("6<%")(0)%"7)."#$($$%>.+,5."876/.)(6+.'9"V.0".0"$('.12(0"(6+$("
%0"/%,0">$7#%0"6<%"0<%"+<%"',6(.$(0"@7.6+%"(0+."-%60+.+.1<%9"h0+."3"7)."$('.1<%"/(0,>7.'9"L"
-%60(60%"-,(6+G8,-%"#%/("0($"70./%"-%)%".$>7)(6+%"/("'(>,+,).1<%"/("7)."+%)./."/("/(-,0<%"
#%$")%+,5%0"@7("()"6./."0("$('.-,%6.)"-%)"."5($+(6+("-,(6+G8,-."/%"#$%&'()."()"-.70.4".00,)"
-%)%"#%/("0($",>6%$./%"6%"-.0%"/("-%6+$.$,.$"7)."/(-,0<%9
S)."#$%-7$."/%"-%60(60%"-,(6+G8,-%"#%$"#.$+("/."#%'G+,-."/(5($,."0($"%"$(07'+./%"/."-$(0-(6+("
,)#',-.1<%"/%0"/%,0"-.)#%09"_("8.-+%4"B")(/,/."@7("%0"$('.+C$,%0"/%"WAXX"8%$.)"07$>,6/%"("
-%68%$)("%"-',)."/.0"6(>%-,.12(0"8%,"#$%>$(/,6/%4"+.)&3)"8%,"-$(0-(6/%"."#$%-7$."/%0"#%'G+,-%0"
#%$"-($+(;.4"-%60,0+?6-,."("$%&70+(;"/%"-%6D(-,)(6+%"-,(6+G8,-%4".7)(6+.6/%"."#$(00<%"0%&$("%0"
-,(6+,0+.09
_(".-%$/%"-%)"."5,0<%"-'*00,-."/."-,?6-,."#('."#%'G+,-.4").,0"-%6D(-,)(6+%"0,>6,8,-.").,%$"
-($+(;.4"'(5.6/%"."7).").,%$"-%(0<%"/("#%'G+,-.09"A%$"%7+$%"'./%4"%0"(0+7/%0"0%&$("."-%6+$%53$0,."
6.0"#(0@7,0.0"-,(6+G8,-.0",6/,-.)"@7(").,0"-%6D(-,)(6+%"-,(6+G8,-%"'(5."."7).").,%$",6-($+(;.9"
h0+7/%0").,0"$(-(6+(0"5<%"6%"0(6+,/%"/("@7(".0"6%5%0"/./%0",6+$%/7;()").,%$"8'(=,&,',/./(4"
()&%$. " .0 " ',>.12(0 " ,6+($#$(+.+,5.0 " 6(>%-,./.0 " 0(M.) " )7,+.0 " 5(;(0 " ,6-%$#%$./.0 " -%)% " 0("
+,5(00()"07$>,/%"6.+7$.')(6+(9"K."',>.1<%"-,?6-,.E#%'G+,-."%"-%6D(-,)(6+%"-,(6+G8,-%"#%/("0($"5,0+%"
-%)%")I+7.4",60(#.$*5('"("0,6-$%6,-.)(6+("-%60+,+7G/%"-%)".0"$(0#%0+.0"("#$%-(00%0"#%'G+,-%0"("
)(0)%"-%)".0",/(6+,/./(0"/%0"/(-,0%$(09"!00,)4"%"0,>6,8,-./%"/("+($)%0"-%)%"c0(60,&,',/./("
-',)*+,-.c"#%/("#.$(-($"6.+7$.'"("."6(>%-,.1<%"/."07.").>6,+7/("#%/("#.$(-($"%"I6,-%".0076+%"
@7("(0+*"()"-.70.4").0"6."#$*+,-."/(-%$$("."6(>%-,.1<%"/%0"0,>6,8,-./%0"&*0,-%0"8G0,-%04"0%-,.,0"
("#%'G+,-%04",6-'7,6/%".",/(6+,/./("/%0".-+%$(04".+$.530"/(0+("#$%-(00%"%&M(-+,5%9
^$.&.'D.$"0%&$("%"-%60(60%"8.-,',+."."+%)./."/("/(-,0<%4").0"."8%$)."-%)%"(00("-%60(60%"3"
.'-.61./%"#%/("#$%/7;,$"(8(,+%0"0%&$("%0"#$%-(00%0"/("+%)./."/("/(-,0<%N"/./%0"6%5%0"(").,0"
-%6D(-,)(6+%" 0<%"7)" /(0.8,%" #($).6(6+( " B" (0+.&,',/./(" /%" -%60(60%" (" B" 8'(=,&,',/./(" /.0"
+%)./.0 " /( " /(-,0<%9 "!-+7.')(6+(4 " % " -%60(60% " -,(6+G8,-% " 0%&$( " . " (=,0+?6-,. " /( " .'+($.12(0"
-',)*+,-.0"6<%"+()")($(-,/%"-%60,0+(6+("%#%0,1<%9"!0").$>(60"#.$."."/I5,/."07$>()"0%&$(+7/%"
()"$('.1<%"B").>6,+7/("@7(".0".'+($.12(0"-',)*+,-.0"#%/()".+,6>,$"6%"87+7$%4"6."0(@7?6-,."/."
%-%$$?6-,. " /%0 " -(6*$,%0 " -',)*+,-%0 " )%/(',;./%0 " #('%0 " (0+7/%0 " -,(6+G8,-%09 " X,?6-,. " ( " A%'G+,-."
-%6+,67.)".",6+($0(-+.$E0("6.")(/,/."()"@7("%"-%60(60%"-,(6+G8,-%"-%65%-."%"#%/($"#%'G+,-%"#.$."
&
."+%)./."/("/(-,02(09"
K(0+("+$.&.'D%4"#$(+(6/(E0("-%)#$((6/($"@7.,0"0<%".0"5%;(0"#$%M(-+./.0"6%"(0#.1%"#I&',-%"
.+$.530"/.",)#$(60.9"d7.,0"0<%"%0".-+%$(0"0%-,.,0").,0"#$(0(6+(0"6.0"6%+G-,.0"$('.-,%6./.0"-%)"
.0 " )7/.61.0 " .6+$%#%>36,-.0 " /% " -',).r " X%)% " %'D.) " #.$. " %0 " M%$6.',0+.0 " ( " -%)% " 0( " 5?()"
$(+$.+./%0".+$.530"/.0"6%+G-,.0"6.0"@7.,0"0<%"-,+./%0r"_("@7("8%$)."(6-.$.)"%0"M%$6.',0+.0".0"
07.0"8%6+(0"/(",68%$).1<%"6%"-.)#%"/.0".'+($.12(0"-',)*+,-.0r"d7("/(0.8,%0"'D(0"-%'%-."7)"
+(). " /( " -%)#'(=,/./( " $(-%6D(-,/. " ( " -7M. " +$.605($0.',/./( " (=,>( " 7) " '(@7( " .&($+% " /("
-%6D(-,)(6+%0r "L " #$(0(6+( " +$.&.'D% " #$(+(6/(4 " #%$+.6+%4 " -%6+$,&7,$ " #.$. " . "-%)#$((60<% " /%"
#$%-(00%"/("#$%/71<%"/%"/,0-7$0%")(/,.+,;./%"0%&$(".'+($.12(0"-',)*+,-.04"()"#.$+,-7'.$"6%"@7("
/,;"$(0#(,+%"B"0('(-1<%"/("8%6+(04"&()"-%)%"-%6+$,&7,$"#.$.".".6*',0("/("#($-(#12(0")I+7.0"/("
.-+%$(0"0%-,.,0"("M%$6.',0+.09
L"(0+7/%"-%)#$((6/(".".6*',0("/.0"6%+G-,.0"#7&',-./.0"6%0"M%$6.,0"!"#$%&'"("('))*%'+,-+.-/01+
6%"#$,)(,$%"+$,)(0+$("/("YZZ[9"!"(0-%'D."/(0+("#($G%/%"+()#%$.'"#$(6/(E0("-%)"."#7&',-.1<%"/%"
07)*$,%"(=(-7+,5%"/%"ls"$('.+C$,%"/%"WAXX",6+,+7'./%"=>77-)?+@')+!'$%&?7-9*)54"7).",)#%$+.6+("
#.$+("/%"/%-7)(6+%",6+(>$.'"@7("0("/(0+,6."."',>.$".0"-%6-'702(0"/."X,?6-,." B".-1<%"#%'G+,-.9"
a(-%$$("+.)&3)"B".6*',0("/("(6+$(5,0+.0"$(.',;./.0".%0".-+%$(0"0%-,.,0"@7("07$>()"6.0"6%+G-,.0"
6." @7.',/./( "/("8%6+(0"/(",68%$).1<%" 0%&$(".'+($.12(0" -',)*+,-.09"!"$(-%'D."/(" 6%+G-,.0"8%,"
(8(-+7./."."#.$+,$"/.0"(/,12(0 "'/$%/*" /%0"M%$6.,04"-%)"$(-7$0%"B0"#.'.5$.0E-D.5(N"c.'+($.12(0"
-',)*+,-.0cF"c.@7(-,)(6+%">'%&.'c4"c#$%+%-%'%"/("d7,%+%c4"c(8(,+%"/("(0+78.c9
!"/,00($+.1<%"$(-%$$("+.)&3)"B".6*',0("/("(6+$(5,0+.0"$(.',;./.0".%0".-+%$(0"0%-,.,0"@7("07$>()"
6.0"6%+G-,.0+6."@7.',/./("/("8%6+(0"/(",68%$).1<%"0%&$(".'+($.12(0"-',)*+,-.04".%0"@7.,0"0("M76+%7"
7)"-%6M76+%"/("%7+$%0"@7("(0+.5.)".70(6+(0"6(00.0")(0).0"6%+G-,.09"!"(0-%'D."/%0"M%$6.',0+.0"
8%,"8(,+.".+$.530"/."-%6+.&,',;.1<%"/%0"@7(").,0"6%+G-,.0".00,6.$.)9
K%"-.#G+7'%"WW"0($*"+$.1./%"7)"(6@7./$.)(6+%"+(C$,-%"/.0".'+($.12(0"-',)*+,-.0"6%"(0#.1%"#I&',-%"
)(/,.+,;./%"()"/%,0"#%6+%0"/,0+,6+%0N"%"#$,)(,$%"/(&$71.E0("0%&$("."/,0-700<%".-($-."/%"'7>.$"
/%0".0076+%0".)&,(6+.,0"6%"(0#.1%"#I&',-%F"%"0(>76/%".#($+."%"(68%@7("("/,0-7+(".0"+(%$,.0"()"
+%$6%"/.0"8%$).0"/("6%+,-,.$".0".'+($.12(0"-',)*+,-.04"/(0/("%0"-$,+3$,%0"("%0"-%60+$.6>,)(6+%0"
@7("#$(0,/()"B"('.&%$.1<%"/.0"6%+G-,.04".+3"B0"$('.12(0"(6+$(")(/,."("8%6+(0"/(",68%$).1<%9
L"+($-(,$%"-.#G+7'%"$(8'(-+("0%&$(".0"@7(0+2(0")(+%/C'%>,-.0"/%"#$(0(6+("(0+7/%9":<%"(=#',-,+./.0"
.0"&.0(0")(+%/%'C>,-.0"@7("#$(0,/,$.)"B"('.&%$.1<%"/(0+."/,00($+.1<%9"K%"#$,)(,$%"#%6+%4"3"
.&%$/./."."8%$)."-%)%"8%,"(8(-+7./.".".6*',0("/%0"+(=+%0"$(-%'D,/%0"6%0"M%$6.,0"!"#$%&'"("('))*%'+
,-+.-/014"/(0/("%0"-$,+3$,%0"/("$(-%'D.4"#.00.6/%"#('%0"-$,+3$,%0"/("(0-%'D."/%0"+(=+%0".".6.',0.$4"
.+3"B"5,."+(C$,-."6."@7.'"0("&.0(%7".".6*',0("#$%#$,.)(6+("/,+.9"K%"0(>76/%"#%6+%"/(0+("-.#G+7'%"
0<%"./,.6+./.0".0"',6D.0")(+%/%'C>,-.0"7+,',;./.0"#.$."(0+7/.$".0"#($-(#12(0"/%0".-+%$(0"0%-,.,0"
("%0"M%$6.',0+.09":<%"(=#',-./.0".0"5,.0"#('.0"@7.,0"8%,"(8(-+7./."."0('(-1<%"/%0".-+%$(0"0%-,.,0"("
/%0"M%$6.',0+.0".%0"@7.,0"8%$.)".#',-./.0"(6+$(5,0+.0"0(),E/,$(-+,5.0"(4"/(#%,04"/("@7(").6(,$."8%,"
(8(-+7./%"%"(0+7/%"/(00.0"(6+$(5,0+.09
:(>7(E0( " % " -.#G+7'% " @7.$+%4 " /(/,-./% " B " .6*',0( " #$%#$,.)(6+( " /,+. " /% " ).+($,.' " M%$6.'G0+,-%"
0('(--,%6./%4"#$(+(6/(6/%"-%)"('("'.61.$".'>7).0"#,0+.0".-($."/."8%$)."-%)%"!"#$%&'"("('))*%'+
'
,-+.-/01".&%$/.)".0"@7(0+2(0"',>./.0"B0".'+($.12(0"-',)*+,-.09
K%"-.#G+7'%"-,6-%"(8(-+7.E0(".".6*',0("/.0"(6+$(5,0+.0"$(.',;./.0".".-+%$(0"0%-,.,09"L0"#%6+%0"/("
5,0+."/(0+(0")()&$%0"/."0%-,(/./("@7("0<%"8%6+(0"/(",68%$).1<%"0%&$(".0")7/.61.0">'%&.,0"/%"
-',)."0<%"(0+7/./%0"/("8%$)."."0($"#%00G5('"+$.1.$"7)"@7./$%"0%&$("."8%$)."-%)%"0("#%0,-,%6.)"
8.-( " B " .&%$/.>() " /. " #$%&'()*+,-. " /.0 " .'+($.12(0 " -',)*+,-.0 " 6%0 " M%$6.,04 " -%)% " %'D.) " ."
.&%$/.>()"/%0"M%$6.,04"-%)%"0("#%0,-,%6.)"8.-(".%0"M%$6.,04"-%)%".5.',.)"%"+$.&.'D%"/%0"
M%$6.',0+.0"@7(".&%$/.)"."#$%&'()*+,-.4"(6+$("%7+$%0"#%6+%0"/("/,0-700<%9
L"-.#G+7'%"0(,0"3"0()('D.6+(".%".6+($,%$4").0".").+3$,."()".6*',0("0<%".0"(6+$(5,0+.0"$(.',;./.0"
.%0"M%$6.',0+.0"@7("D.&,+7.')(6+("('.&%$.)"6%+G-,.0"0%&$(".'+($.12(0"-',)*+,-.09"!'>7).0"/.0"
#($0#(-+,5.0 " .6.',0./.0 " #.00.) " #('%0 " /(0.8,%0 " (0#(-G8,-%0 " /( " +$.+.$ " ,68%$).1<% " 0%&$( " .0"
.'+($.12(0"-',)*+,-.04".0"$('.12(0"-%)".0"8%6+(0"/(",68%$).1<%4"%0"-$,+3$,%0"/("0('(-1<%"/."
,68%$).1<%"("/.0"8%6+(04"%0"-%60+$.6>,)(6+%0"/."-%60+$71<%"/%0"+(=+%0"M%$6.'G0+,-%09
A%$"I'+,)%4"%"-.#G+7'%"0(+("-%60,0+("6.0"-%6-'702(0"$(+,$./.0"/("+%/%"%"(0+7/%"@7("(65%'5(7"+(=+%0"
M%$6.'G0+,-%04".-+%$(0"0%-,.,0"("M%$6.',0+.09"!'3)"/("6%+.0"-%6-'70,5.04"+.)&3)"0<%"'.61./.0"#,0+.0"
/("#%00G5(,0"/(0(65%'5,)(6+%0"87+7$%0"#.$."@7(0+2(0"'(5.6+./.0"#('."#$(0(6+("/,00($+.1<%9
(
!!"#,)-(&'.#%/0&12'.
3"#4#-561/$%/#/#'#/.7-*'#786912'
!"#$(0(61."/.0".'+($.12(0"-',)*+,-.0"6%"(0#.1%"#I&',-%4".+$.530"/("7)."/.0"8%$).0"#$,5,'(>,./.0"
/("-,$-7'.1<%"/.",68%$).1<%"("/."#%+(6-,.1<%"/%"/(&.+("6."0%-,(/./("-%)#'(=."H"%0")(,%0"/("
-%)76,-.1<% " /( " ).00. " H " #%/( " 0($ " 7) " /%0 " -.),6D%0 " #.$. " . " -%)#$((60<% " /.0 " .+,+7/(0 " ("
-%)#%$+.)(6+%0"/%0"-,/./<%0"/,.6+("/(0+."#$%&'()*+,-."("+.)&3)"/.".-1<%t,6.-1<%"#%'G+,-.9"
X%653)4"#%$+.6+%4"#($-(&($"/("@7("8%$).",$$%)#("%".0076+%"/.0".'+($.12(0"-',)*+,-.0".%"(0#.1%"
#I&',-%")(/,.+,;./%9
L0")(,%0"/("-%)76,-.1<%"/(").00."/(0()#(6D.)"7)"#.#('"/(">$.6/(",)#%$+6-,."#.$."%0"
-,/./<%0"6%"@7("$(0#(,+.".").+3$,."-,(6+G8,-."("/("+(-6%'%>,."("."#($-(#1<%"@7("#%007()"(6$.G;.E
0("6.0"$(#$(0(6+.12(0"@7("%0")(/,."/,876/()".-($-."/%"-%6D(-,)(6+%"-,(6+G8,-%"TX.$5.'D%4"
YZZ[U9"L0"C$><%0"/("-%)76,-.1<%"6<%"0<%"6(7+$%0"6."/,870<%"/.",68%$).1<%"("$(-%6D(-(E0("@7("
(=,0+("7)"#$%-(00%"/("+$.608%$).1<%"/.")(60.>()"/(0/(".",68%$).1<%"#$,)%$/,.'".+3".%"#$%/7+%"
8,6.'"0($5,/%".%"#I&',-%9"X%6-%$$()"/,5($0.0"0,+7.12(0"."(0+("6G5('"("6<%"3"6(>',>(6-,*5('"%"8.-+%"
/("%"#$%/7+%"8,6.'"0($"%"$(8'(=%"/("7)"-%6M76+%"/("(0-%'D.09
!0"%#12(0"0<%"8(,+.0"-%)"&.0("6.0"-%6/,-,%6.6+(0").,0"/,5($0.0"@7("-.$.-+($,;.)"%"(=($-G-,%"/."
#$%8,00<%"/("M%$6.',0+.9":<%"(0+.0"',),+.12(0"/($,5./.0"@7($"/."A)-B%5",6($(6+(".%"M%$6.',0)%4"@7($"
B"6.+7$(;."/."#$%8,00<%4"@7($".,6/.".%"(6@7./$.)(6+%"()#$(0.$,.'"/%"C$><%"/("-%)76,-.1<%"()"
-.70.9"L"@7("6%"8,6.'"5.,"$(-(&($"."/(0,>6.1<%"/("6%+G-,."0%8$(7"7)"#$%-(00.)(6+%"/%0"/./%0"
,6,-,.0"@7("0("$(8'(-+("6."8%$)."-%)%"('(0"0<%".#$(0(6+./%04"0%&"."8%$)."/("7)."6.$$.+,5.4"-%)"
#($0%6.>(60"("(6$(/%"7$/,/%09
!"u7C5*+*/+5&D/*v"/("+%/."."6%+G-,."/*"."5($"7)")76/%"8$.--,%6./%"()"#.$+(0".6+.>C6,-.09"!"
.70?6-,."/("7)"-%60(60%"#$%6+%"(".'.$>./%"()"+%$6%"/.0")(/,/.0"#%'G+,-.0",6+($6.-,%6.,0"."'(5.$"
. " (8(,+% " #.$. " % " -%)&.+( " B " ,68'7?6-,. " .6+$%#%>36,-. " 6(8.0+. " 0%&$( " % " -',). " 0<% " 0,6+%). " /."
/,8,-7'/./("/(">($.$"-%60(60%"#%'G+,-%"0%&$("7)"-%60(60%"-,(6+G8,-%"(0-.00.)(6+("-%6+(0+./%9
L0")(,%0"/("-%)76,-.1<%"/(").00."/(0()#(6D.)"7)"#.#('",)#%$+.6+(".%"6G5('"/."-,$-7'.1<%"
/.",68%$).1<%".-($-."/%".0076+%"("0<%"/(+($),6.6+(0"#.$."."8%$).1<%"/."%#,6,<%"#I&',-."()"
$('.1<%"B0"+()*+,-.0"@7("0("#$(6/()"-%)".0".'+($.12(0"-',)*+,-.04"0%&$(".0")(/,/.0"/("+(%$"
#%'G+,-%".5.61./.0".-($-."/%"#$%&'()."("#%/()",68'7(6-,.$".0"%#12(0"."+%).$9"L0")(,%0"/("
-%)76,-.1<%"/(").00."0<%"#.'-%0"#$,5,'(>,./%0"#.$."/,870<%"0%-,.'"/%0"0,>6,8,-./%0".+$,&7G/%0"."
(0+."+()*+,-."("(0+(0"(0+<%",)#$(>6./%0"/.0"&.0(0",/(%'C>,-.0"/%"#$C#$,%"C$><%"/("-%)76,-.1<%"
@7("%0"#$%/7;"("/,57'>."TX.$5.'D%4"YZZ[U9"J"6(0+("#%6+%"@7("-%65($>()"."-%)#'(=,/./("/%"
.0076+%".'+($.12(0"-',)*+,-.0"("."-%)#'(=,/./("/."0%-,(/./(")(/,.+,;./.9
EFE+('7>/%&-G1'+-7#%*/3-$+7*,%-3%H-,-
A%/(".@7,"0($"(5%-./."."(5%'71<%"/(")(,%"03-7'%"/("7)"%7+$%")%/('%"/("-%)76,-.1<%"()"+7/%"
0()('D.6+(".%".-,)."/(0-$,+%4").0".#',-./%"B"-%)76,-.1<%"-,(6+G8,-."/(").00."T/(0/(")(./%0"
)
/%"03-7'%"wwUN"%")%/('%"/(0(65%'5,/%"#%$"n(0+'(x"("V.-q(.6"T-,+9"#%$"q%>.64"YZZPU"(65%'5,."
8%6+(4 ")(60.>()4" -.6.'"("$(-(#+%$9 "!%"'%6>%" /("gZ".6%0"%")%/('%" 8%,"0%8$(6/%".'+($.12(0"
07-(00,5.0""("#.00%7".",6+(>$.$"+C#,-%0"-%)%".",68'7?6-,."/%"-',)."-7'+7$.'4",/(%'%>,.0"#%'G+,-."("
-7'+7$.'"/%),6.6+(04"#0,-%'%>,."0%-,.'4")%/('%0"-%>6,+,5%0"-%)#%$+.)(6+.,0"("-%6/,12(0"/("5,/."
Tq%>.64"YZZPU9"L"(6@7./$.)(6+%"-'*00,-%"/."-%)76,-.1<%"-,(6+G8,-."%-7#%7E0("#$%876/.)(6+("/%"
,)#.-+%"@7("(00."-%)76,-.1<%"+($,.".%"6G5('"/."$(-(#1<%9"A%$3)4"6<%"/(,=%7"/(">($.$",6+($(00("
()"/,5($0.0"%7+$.0"5($+(6+(0"(65%'5,/.0"6%"8'7=%"/.0"6%+G-,.04"#.$+,6/%"/%0"-,(6+,0+.04".+$.530"/%0"
M%$6.',0+.04".+3".%0"-,/./<%0"Tq%>.64"YZZPU9
V-d7.,'"T-,+9"#%$"q%>.64"YZZPU"-%6-'7,7"@7("%0",65(0+,>./%$(0"#.00.$.)"/%"#.+.).$"/.".5.',.1<%"
/. " -$(/,&,',/./( " /. " 8%6+( " #.$. " % " /. " -%)#'(=,/./( " /.0 " $('.12(0 " @7( " 0( " (0+.&('(-() " (6+$("
M%$6.',0+.04"8%6+(0"6%+,-,%0.0"("%7+$%0"('()(6+%0"@7(",6+($5?)"6."('.&%$.1<%"/.0"6%+G-,.09"!"
-%)#'(=,8,-.1<%"/%")%/('%"8%,"0(6/%".-(6+7./.9
!"-%)76,-.1<%".)&,(6+.'"6<%"$.$.0"5(;(0"5()".00%-,./."B"-%)76,-.1<%"-,(6+G8,-.9"^.'"3"%"-.0%"
/.0".'+($.12(0"-',)*+,-.09":%)%04"#%,04"'(5./%0"."./),+,$4"-%)%"X%="TYZZiU4"@7("."-%)76,-.1<%"
.)&,(6+.'"3"7)."8%$)."/(".-1<%"0,)&C',-.9"K(0+."#($0#(-+,5.4"(=($-,/.".%"6G5('"/."(08($."#I&',-.4"
>.6D."7)"#.#('".-+,5%"6.")%/('.1<%"/.0"#($-(#12(0"/%0",6/,5G/7%04"-%)%"$(07'+./%"/."'(,+7$."/%"
)76/%".+$.530"/("7)"-%6M76+%"/("0G)&%'%04"0(M.)"#.'.5$.04"0%604",).>(60"%7"6.$$.+,5.09
W)#%$+."/(05('.$"@7.'"0($*"%"#.#('"/%0")(,%0"/("-%)76,-.1<%"/(").00."0%&$(".0"#($-(#12(0"/%0"
,6/,5G/7%0"()"$('.1<%".%0"+().0".)&,(6+.,09
!/),+(E0("@7(".".-1<%"0,)&C',-.")(/(,.".0"#($-(#12(0"/("6.+7$(;.9"J".+$.530"/('."@7("%0"
,6/,5G/7%0"0<%"#$%5,/%0"/("7)"@7./$%"0(>76/%"%"@7.'"-%)#$((6/()"%")76/%9"h0+("8,'+$%"5.,"
#($),+,$ " @7( " . " $(.',/./( " -%)#'(=. " 0(M. " -%'%-./. " 0%& " 7). " #($0#(-+,5. " 8$.>)(6+./. " ("
$.-,%6.',;*5('9
J"6."/,0-700<%"070-,+./."6%"(0#.1%"#I&',-%"@7("(0+("@7./$%"(5%'7,9"V.0"-%653)"-%)#$((6/($"
@7("6<%"0("+$.+."/("7)"(0#.1%"#I&',-%"8,0,-.)(6+("/(',),+./%4"6()")(0)%"-%60,0+("67).".$(6."
/(',6(./."#('%"#%/($"#%'G+,-%9
L"(0#.1%"#I&',-%".-%6+(-("@7.6/%"%0",6/,5G/7%0".$>7)(6+.)4"-%65($0.)4"-%)76,-.)"#%6+%0"/("
5,0+.4 " $(-'.).) " .+$.530 " /( " )(,%0 " /( " -%)76,-.1<% " '%-.,0 " 0%&$( " .0076+%0 " @7( " -%60+,+7()"
#$(%-7#.12(0"-%)7609"A%$+.6+%4"(0+."(08($."#I&',-."3"7)"'7>.$"/,0-7$0,5%"TX%=4"YZZiU"("6<%"
/(5("0($"7)"(0#.1%"/("/(&.+("$(0+$,+%"B0"(',+(09"L"(0#.1%"#I&',-%"/()%-$*+,-%"-%)#$((6/("7)."
#%',8%6,. " /( " 5%;(0" @7(" /,;() " /. " 0.I/(" /( " 7). " /()%-$.-,. " #.$+,-,#.+,5. " ( " $%&70+.9 " K<%" 3"
76,8%$)(4 " #%/( " .6+(0 " -%)#$((6/($ " -.)#%0 " .'+($6.+,5%0 " /( " -%)76,-.1<% " #$%)%5,/%0 " #%$"
/(+($),6./%0">$7#%0"@7("-%)76,-.)"6%"0(7"0(,%9"L0".)&,(6+.',0+.04"#%$"(=()#'%4"#$%)%5()"
(0+$.+3>,.0"/("'(>,+,).1<%"/%0"#%6+%0"/("5,0+."@7("/(8(6/()"M76+%"/%0"$(0+.6+(0"('()(6+%0"/%"
(0#.1%"#I&',-%9"!"/,870<%"/%0"/,8($(6+(0"#%6+%0"/("5,0+."@7("#7'7'.)"6%"(0#.1%"#I&',-%"+%$6.E0("
7)."'7+."/("#%/($(0"#('."'(>,+,).1<%4"#('.".0-(60<%".%0")(,%0"/("-%)76,-.1<%"@7("#($),+.)"
.+,6>,$"%0").,0"5.$,./%0"6G5(,0"/%"+(-,/%"0%-,.'4"()"(0-.'.".'.$>./.9
K%"-%6+(=+%"/("7)."/()%-$.-,."$(#$(0(6+.+,5.4"%0")(/,."/(").00."0<%"%"#$,6-,#.'"5(G-7'%"/("
$(#$(0(6+.1<%".+$.530"/%"@7.'"%0"/,8($(6+(0"('()(6+%0"/."(08($."#I&',-."#%/()"-%60+,+7,$E0("
!*
07M(,+%0"("0($"-%6+(0+./%09"W0+%"-%)#%$+.",)#',-.12(0",/(%'C>,-.0"@7("0("#'.0).)"6%0"/,0-7$0%0"
#%'G+,-%0" 0%&$(" ." -,/./.6,.4 " +($)% " (5%-./% " 6<% " $.$.0" 5(;(0" /(" 8%$)." . " -%'%-.$ " ?68.0( " 6."
$(0#%60.&,',/./(",6/,5,/7.'4"@7.6/%"/("8.-+%"0("&.0(,.)"()"-%6-(,+%0"/("%7+$."6.+7$(;.4"-%)%"%0"
(-%6C),-%04"#%$"(=()#'%9
!" (=,0+?6-,. " /% " @7( " 0( " -D.). " -,/./.6,. " 6.0 " 0%-,(/./(0 " -%6+()#%$6(.0 " 6<% " 3 " .#(6.0"
/%-7)(6+./."#('%0")(,%0"/("-%)76,-.1<%"/(").00.9"V.,0"#$%876/.)(6+(4"(00."-,/./.6,.".#%,.E
0("6(00(0")(0)%0")(/,."#.$."(=,0+,$"Tn.D'Eb%$>(60(64"YZZiU4"-%)%"0("(=#',-.$*"."0(>7,$9"
L"#I'#,+%"#$%#%$-,%6./%"#('%0")(,%0"/("-%)76,-.1<%"/(6+$%"/%"(0#.1%"#I&',-%".-.&."#%$"0("
+%$6.$"7)"'%-.'"#$,5,'(>,./%"#.$."%"(=($-G-,%"/(")%5,)(6+%0"/("%#%0,1<%".%"(0+./%"/("-%,0.09"L0"
(=()#'%0 " /( " )%5,)(6+%0 " 6.0-,/%0 " 67) " )(,% " /( " -%)76,-.1<% " -%)% " . " W6+($6(+ " @7( " .G " 0("
%$>.6,;.)4"(=#.6/()4">.6D.)"$('(56-,."0%-,.'"(".'>7)."-$(/,&,',/./(".-.&.)"#%$"-%6@7,0+.$"
7)"'7>.$"(6+$(".0"8%6+(0"/(",68%$).1<%"/%0")(,%0"/("-%)76,-.1<%"/(").00."+$./,-,%6.,09"k.0+."
'.61.$"%0"%'D%0"0%&$(".0"6%+G-,.0"/,*$,.0"("5($,8,-.$"@7("M*"6<%"0<%"+<%"$.$.0".0"$(8($?6-,.0"."8%6+(0"
/( " ,68%$).1<% " B " ).$>() " /.0 " %8,-,.,0 " @7( " #%6+,8,-.) " 6. " W6+($6(+ " ( " @7( " . " #.$+,$ " /('. " 0<%"
0('(--,%6./.09"S)"/%0"-.0%0").,0"#($+,6(6+(0"3"%"@7(".-%6+(-("-%)"%0"&'%>7(04"."@7()".'>760"
.#(',/.)"/("5($/./(,$."$(5%'71<%"6%0"#.$)(+$%0"/."/()%-$.-,."#.$+,-,#.+,5."("6."/(8,6,1<%"/%"
'7>.$"/%"-,/./<%"6%"(0#.1%"#I&',-%")(/,.+,;./%9
h=,0+("7)."/,8,-7'/./(")(+%/%'C>,-.""@7("/,8,-7'+."%"(0+7/%"/%"(=($-G-,%"/."-,/./.6,."."#.$+,$"/%0"
+(=+%0"%7"/.0"#$*+,-.0"+(=+7.,0"Tn.D'Eb%$>(60(64"YZZiU9"!"#.$+,$"/(0+(0"('()(6+%0"#%/(E0("(0+7/.$"
.0"#$(0(61.0").0"6<%".0".70?6-,.0"/%"(=($-G-,%"/."-,/./.6,.4"3"#%00G5('"5($,8,-.$"@7()"(0+*"
#$(0(6+(4").0"6<%"3"0,)#'(0"/.$"-%6+."/.0".70?6-,.0"/."-,/./.6,.")(/,.+,;./.4"(")(6%0".,6/."
.0 " $.;2(0 " /(00. " (=-'70<%9 "!,6/. " @7( " % " .-(00% " B " /,0-700<% " .+$.530 " /%0 " 6%5%0 " )(,%0 " /("
-%)76,-.1<%"(0+(M."5(/./%"B"#.$+,/."."7)"-%6M76+%"/("#(00%.04"."(=-'70<%"6<%"0("&.0(,.".#(6.0"
6.0"/,8,-7'/./(0"/(".-(00%"8G0,-%"("/("D.&,',+.1<%"0C-,%E-7'+7$.,0"#.$."+.'4").0"#$(6/(E0(".,6/."
).,0"-%)".0"#$*+,-.0"-%)76,-.+,5.0"@7("#$(5.'(-()"()"/(+($),6./%0"8C$760")(/,.+,;./%09"!"
6.+7$(;. " )(/,.+,;./. " /. " -,/./.6,. " $('.-,%6.E0( " )7,+% " -%) " . " 8%$). " -%)% " .0 " +(602(0 " (6+$("
(0#.1%0" /( "-%)#$%),00% "#%'G+,-%" 0( ".$+,-7'.)9 " K<% "0( "#%/( " /.$" -%6+. " /. " #$%876/,/./(" /%"
-%6-(,+%"/("-,/./.6,."0()".+(6/($"B0"(0+$7+7$.0"/("#%/($"@7(".-%6+(-()".+$.530"("/(6+$%"/%"
/,0-7$0%")(/,.+,;./%9"
].6D."#($+,6?6-,."."/,0-700<%".-($-."/%0"-,$-7,+%0"@7("'(5.)".".'-.61.$"%"(0+.+7+%"/("8%6+("/("
,68%$).1<%9"K(0+("#%6+%4"/(-%$$()")7/.61.0",6/7;,/.0"#('%"07$>,)(6+%"/("6%5%0")(,%0"/("
-%)76,-.1<%4"-%)%"./,.6+("5($()%04".@7.6/%"/."/,0-700<%"/."#$%&'()*+,-."/.0"8%6+(09
EFIF+JB%53*+K')/-$%57'+-7#%*/3-$L
b%$6.',0+.0 " ( " (/,+%$(0 " +$.&.'D.) " () " &70-. " /( " 8%6+(0 " /( " ,68%$).1<% " .)&,(6+.' " -$(/G5(,0 " ("
/,0#%6G5(,0"()"3%7%/;5"-.#.;(0"/("0("-%./76.$()"B0"M.6('.0"/("+()#%"("/("(0#.1%"/,0#%6G5(,0"
6%0")(,%0"/("-%)76,-.1<%"/(").00."+$./,-,%6.,09"!"W6+($6(+"/(0()#(6D."%"#.#('"#$,6-,#.'"."(0+("
6G5('9"L0"#$%8,00,%6.,0"/%"M%$6.',0)%"#%/()"(6-%6+$.$"7)"-%6M76+%"/("(6+,/./(0"@7("8%$6(-()"
-%'(-+6(.0"/(",68%$).1<%".-($-."/%0").,0"/,5($0%0".0076+%09
!!
!%")(0)%"+()#%4"%"/(0(6-.6+%"-%)"."8%$)."+$./,-,%6.'"-%)%"%0")(/,."+$.+.)".0").+3$,.0"
.)&,(6+.,0"'(5."B"#$%',8($.1<%"/("8%$).0".'+($6.+,5.0"/("-%)76,-.1<%"0%&$("%".)&,(6+(9"L0").,0"
/,5($0%0">$7#%0"-$,.)"-.6.,0"(0#(-G8,-%0"/("/,870<%"/(",68%$).1<%"("-%6D(-,)(6+%4"-%)%"3"%"
-.0% " /%0 " >$7#%0 " .)&,(6+.',0+.04 " 6%0 " @7.,0 " -%60(>7() " @7( " .0 " 07.0 " )(60.>(60 " 0(M.)"
#$,5,'(>,./.09"h=,0+(4"(6+<%4"7)."#7'5($,;.1<%"/.0"8%6+(0"/("6%+G-,.0"/(".)&,(6+(4"@7("876-,%6.)"
/("8%$)."#.$.'('.".%0")(,%0"/("-%)76,-.1<%"+$./,-,%6.,04").0"@7(".%")(0)%"+()#%"6<%"8,-.)"
+%+.')(6+("8%$."/('(04"#%$"6<%"0($()"(0+.6@7(0"6()"/(".-(00%"$(0+$,+%9"!-.&.)".+34".'>7).0"
5(;(04"#%$"0($"('(,+%0"-%)%"8%6+(0"/(",68%$).1<%"/%0")(/,."+$./,-,%6.,09
:7-(/()E0( " .0 " #7&',-.12(0 " -%)% " $(5,0+.0 " +()*+,-.0 " ,6/(#(6/(6+(04 " %0 " 8,')(04 " %0 " 0G+,%0 " 6."
W6+($6(+"#.$."/,57'>.1<%"/(",68%$).1<%".)&,(6+.'9"X%)"#I&',-%0"(0#(-G8,-%04"(0+(0"C$><%0"/("
-%)76,-.1<%"/(0.8,.)".".$@7,+(-+7$."/("-%)76,-.1<%"/%0")(/,."+$./,-,%6.,09"L"-.),6D%"/."
(0#(-,.',;.1<%"/.",68%$).1<%"0(>7("#%$"(00."5,.9"V.04".%")(0)%"+()#%4"(0+*E0("/,.6+("/("7)"
+,#%"/(",68%$).1<%"@7("(0-.#."B">$.6/(").,%$,."/%0"-,/./<%09":(6/%",)#%$+.6+("#('%"/,6.),0)%"
@7(",)#$,)(".%"(0#.1%"#I&',-%4"."(0-.00."/,870<%".-.&."#%$"6<%"#($),+,$"%0"(8(,+%0"/("(0-.'."
).,0".'.$>./."@7(".'>760"/(00(0">$7#%0">%0+.$,.)"/("+($"#.$."%0"0(70".0076+%0"("#%6+%0"/("
5,0+.9
K."+.$(8."/("+$.+.$"/(".0076+%0".)&,(6+.,04"%0"M%$6.',0+.0"0<%"/%0"#$,)(,$%0"."0(6+,$".".70?6-,."/("
,68%$).1<%"/("@7.',/./("("/,0#%6G5('"()"+()#%"I+,'9"K%0"h0+./%0"S6,/%04"07$>,7". "='&%*3?+'@+
J/:%)'/7*/3-$+M'>)/-$%535"T:hbU"."@7.'"(0+*"5%+./.".".M7/.$"."6%+,-,.$"%".)&,(6+("("-7M%"#$,6-,#.'"
%&M(-+,5%"3"8%$6(-($"."M%$6.',0+.0"("(/,+%$(0"-%)#$((60<%"#I&',-.".-($-."/(".0076+%0".)&,(6+.,0"
-$G+,-%09
!":hb").6+3)"7)."&.0("/("/./%0"/(0+,6./."."M%$6.',0+.0"@7("#$(+(6/()",65(0+,>.$"#%00G5(,0"
-%68',+%0"/( ",6+($(00( "(6+$( "-,(6+,0+.0"@7("#7&',-.)".-($-."/(".0076+%0"-%)#'(=%04"-%)% "%"
.@7(-,)(6+%">'%&.'9"!"&.0("/("/./%0"$(8($(".0"',>.12(0"/%0"-,(6+,0+.0"."()#$(0.0"%7"."%7+$.0"
(6+,/./(0"$('.-,%6./.0"-%)".0076+%0"@7("#%/()"(6+$.$"6%"/%)G6,%"/%".)&,(6+(9"^.)&3)"8%$6(-("
',0+.0 " /.0 " %$>.6,;.12(0 " 0() " 8,60 " '7-$.+,5%0 " ( " /( " 76,5($0,/./(0 " 07&0,/,./.0 " #%$ " ()#$(0.09"
L$>.6,;.12(0"0()('D.6+(0"(=,0+()"."6G5('",6+($6.-,%6.'"("-%)"%&M(-+,5%0",/?6+,-%0N"N5%-O!-&%@%&+
6')>7+'@+J/:%)'/7*/3-$+(+M'>)/-$%535+P/3*)/-3%'/-$+6*,*)-3%'/+'@+J/:%)'/7*/3-$+M'>)/-$%5359
L"./5(6+%"/."W6+($6(+"-(/%"#$%#%$-,%6%7"7)"$(-7$0%"7+,',;./%"+.)&3)"#.$."."/,870<%"/("6%+G-,.0"
/(".)&,(6+(9"O$,(/).6"TYZZlU".'($+%7"#.$."%"8.-+%"/(")7,+.0"/.0")7/.61.0"@7("%-%$$()".%"6G5('"
/.",68%$).1<%".)&,(6+.'"("/.0"8%6+(0"M%$6.'G0+,-.0"#%/($()"0($".00.-./.0"B
" "Q')$,+Q%,*+Q*#9"L"
J/:%)'/7*/3-$+4*85+=*):%&*" ThK:U"8%,"/.0"#$,)(,$.0"(=#($,?6-,.0"(8(-+7./.0"."(0+("6G5('4"()"
PQQZ9"X%60,0+("67)"#%$+.'"/("6%+G-,.0",6/(#(6/(6+("@7("3".',)(6+./%"#%$").,0"/("lZZ"0G+,%0"/("
6%+G-,.0".)&,(6+.,09"L7+$.0"0("'D("0(>7,$.)"("D%M("(=,0+("M*"7)"'(@7(".'.$>./%"/("0G+,%04").,0"%7"
)(6%0"(0#(-,.',;./%0"."8%$6(-($",68%$).1<%"/,0#%6,&,',;./."6%"-,&($(0#.1%9"K%"(6+.6+%4".'>760"
/(0+(0"0G+,%0"(0+<%".#(6.0".-(00G5(,0")(/,.6+("07&0-$,1<%4"%"@7("/,8,-7'+."/(0/("'%>%"%"8'7=%"',5$("
/.",68%$).1<%9"^%/.5,.4"+%/.0"(0+.0"(=#($,?6-,.0".%"6G5('"/."-%)76,-.1<%".)&,(6+.'"'(5.)"."
$(#(60.$".0"87612(0"/(";-3*9**A%/;"("%0"-$,+3$,%0"/("6%+,-,.&,',/./("T^7-D).64"PQ[RU4"7)."5(;"
@7("6<%"0("0.&(".%"-($+%"@7()"-%6+$%'."%".-(00%"B0"6%+G-,.04"0("3"@7("(=,0+("-%6+$%'%"/(".'>7)."
!"
(0#3-,(9"A.$(-("6<%"(=,0+,$()"/I5,/.0".-($-."/."-%)76,-.1<%")(/,*+,-."/(".0076+%0"/("-.$,;"
.)&,(6+.'9"V.0"-%'%-.E0("."@7(0+<%"/("(=,0+,$".'>%"."@7("0("-D.)("M%$6.',0)%".)&,(6+.'4",0+%"34"
7)."*$(."(0#(-G8,-."/(6+$%"/%"M%$6.',0)%"@7("/(+(6D."+($$(6%"("-.$.-+($G0+,-.0"@7("/(".'>7)."
8%$)."%"/,0+,6>.)"/("%7+$.0"5($+(6+(0"/%"M%$6.',0)%9
].6D. " #($+,6?6-,. " . " @7(0+<% " () " +%$6% " /. " -%6-(#+7.',;.1<% " /% " +$.+.)(6+% " M%$6.'G0+,-% " /.0"
.'+($.12(0"-',)*+,-.0">'%&.,0"0%&"."#($0#(-+,5.".)&,(6+.'9"J"6(-(00*$,%").6+($"#$(0(6+("@7("
M%$6.',0)% " .)&,(6+.' " 34 " .6+(0 " /( " ).,04 " M%$6.',0)% " ( " 6<% " #%/($*4 " #%$+.6+%4 " (0-.#.$ " B0"
-.$.-+($G0+,-.0").,0">($.,0"/."#$%8,00<%9"h0+.")(0)."(0#(-,.',;.1<%"5()"+%).6/%"-./."5(;").,%$"
/,)(60<%"6%"@7("0("$(8($(".%"M%$6.',0)%9"!"(5%'71<%"#('."5,."/."(0#(-,.',;.1<%"/%0"-%6+(I/%04"
/,$(--,%6./%0"#.$."#I&',-%0"(0#(-G8,-%04"3"7)"$(8'(=%"/."0%-,(/./("-%)#'(=."@7("0("./(60."
/,.6+("/%0"6%00%0"%'D%09"_(0+."8%$).4"6<%"0($*"/("(0+$.6D.$"@7("0("5($,8,@7(".")(0)."+(6/?6-,."
#.$." . " 8$.>)(6+.1<%" /% " -.)#%" /. " .-+,5,/./( " M%$6.'G0+,-. " (4 " -%6-%),+.6+()(6+(4 " /% " #$%/7+%"
M%$6.'G0+,-%9"J"#%00G5('",).>,6.$"."@7.6+,/./("/("#7&',-.12(0"(0#(-G8,-.0"@7("0("(6-%6+$."@7.6/%"
0("5,0,+."7)"@7,%0@7(r"!0"+,$.>(60"/(-$(0-(6+(0"/%0"M%$6.,0t$(5,0+.0"/(",68%$).1<%">(6($.',0+.0"
(0+<%".G"#.$."-%68,$).$"(0+("8.-+%9
h)"#.$.'('%4"."5('%-,/./("5($+,>,6%0."."@7("0("07-(/($.)"%0".5.61%0"-,(6+G8,-%0"("+(-6%'C>,-%0"
.%"'%6>%"/%"03-7'%"ww".>7/,;%7"."7$>?6-,."/("(65($(/.$"#('."8$.>)(6+.1<%"/%0"0.&($(04"/("
8%$)."@7("#%00.)"0($"/,876/,/%0"-%)").,%$"(8,-*-,."("#$%#$,(/./("."7)"#I&',-%"@7("0("@7($"
.'.$>./%"Ta(x(04"YZZeU9"J"6%".&,0)%"-.5./%"(6+$(".">(6($.',/./("/."0%-,(/./("("."-,?6-,."@7("
%0")(,%0"/("-%)76,-.1<%"#%/()"(6-%6+$.$"(0#.1%"#.$."(=($-($()"."8761<%"@7("(0+*"6."07."
>36(0(4",0+%"34"#.$."0("-%'%-.$()"-%)%"."#'.+.8%$)."@7("#($),+("."-%)76,-.1<%"(6+$("%0"
/,5($0%0"-%)#.$+,)(6+%0"/."0%-,(/./("-%)#'(=.9"V.,0".,6/."0("-%'%-."(0+("/(0.8,%"@7.6/%".0"
+(-6%'%>,.0"/("-%)76,-.1<%".5.61.)"."$,+)%0"5($+,>,6%0%0"#.$."8.-,',+.$()"(".+3",)#%$()"7)"
)%/('%"/("-%)76,-.1<%"()"$(/(4"B"$(5(',."/%0")%/('%0"D,($.$@7,;./%04").00,8,-./%0"("76G5%-%0"
+$./,-,%6.,09
L"#%6+%"/("(@7,'G&$,%"#.$(-("/,8G-,'"/(".'-.61.$"#.$."%0"/(0.8,./%0")(,%0"/("-%)76,-.1<%"(0-$,+."
()"#.#('4".%0"@7.,0"%",)(/,.+,0)%"/."/,870<%"/.",68%$).1<%"(0#(-,.',;./."-%'%-."()"-D(@7("#%$"
.8$%6+.$"("/(&('.$"%"0(7".&,0)%"+()#%$.'"("."76,5%-,/./(9"L0"-.),6D%0"/."(0#(-,.',;.1<%"("/."
.6*',0(4"/."(=#',-.1<%"("/%".#$%876/.)(6+%"/.0"+()*+,-.0"#.00.)"."(0+.$"/,.6+("/%0")(,%0"/("
-%)76,-.1<%"()"#.#('"-%)%"7)")%/('%"/("/,8($(6-,.1<%"("/("5.'%$,;.1<%"8.-(".%",)(/,.+,0)%"
/(")(,%0"('(-+$C6,-%04"#%$"(=()#'%9"S)."/.0"5,.0"@7("(0+."(0#(-,.',;.1<%"+()"+%)./%"/(6+$%"/%0"
)(,%0 " /( " -%)76,-.1<% " /( " ).00. " 3 " #$(-,0.)(6+( " . " (0#(-,.',;.1<% " /. " ,68%$).1<% " ()"
/(+($),6./%0"/%)G6,%09
a(+()%E6%0"6%"-%6-(,+%"@7.6/%".#',-./%"6%7+$%0"#.G0(09"K%0"h0+./%0"S6,/%04"%"8,6.'"/%0".6%0"
PQRZ"3"+,/%"-%)%"7)").$-%"#.$."%"/,0#.$%"/%"-$(0-,)(6+%"/."#$(0(61."/%".)&,(6+("6.0"6%+G-,.04"
() " 6%+G-,.0 " -%'%-./.0 " () " 0(-12(0 " #$C#$,.09 " h) " PQRR4 " . " $(5,0+. "R%7*" (0+.&('(-(7 " 7)"
-%)#$%),00%"/(".7)(6+.$"."-%&($+7$."/("+().0".)&,(6+.,0"("8?E'%".%"6%)(.$"."^($$."-%)%"
A'.6(+. " /%"!6% " TO$,(/).64 " PQQlU9 " a(5,0+.0 " @7( " 07$>,.) " (" (0+.12(0" /(" +('(5,0<% " #%$ " -.&%"
.676-,.5.)"()"PQQZ"@7("/(/,-.5.)".>%$.").,%$".+(61<%".%0".0076+%0".)&,(6+.,0"/%"@7("
!#
D.5,.)"8(,+%"6%0".6%0".6+($,%$(09
!#(0.$ " /( " 7) " .&$.6/.)(6+% " /% " -$(0-,)(6+% " ,6,-,.' " $(>,0+./% " 6% " @7( " 0( " -D.). " M%$6.',0)%"
.)&,(6+.'4"6%0"hS!4"%"8.-+%"3"@7("%".)&,(6+("#.00%7"."8.;($"#.$+("/."$%+,6."/.0"$(/.-12(04"+.'"
-%)%"3"$(8($,/%"#%$"7)"(0+7/%"'(5./%"."-.&%"()"PQQe4"()"@7("li"#%$"-(6+%"/%0"gPY"@7./$%0"/("
M%$6.,0"(6+$(5,0+./%0"#.$."."6'>/,-3%'/+'@+N7*)%&-/+('77>/%&-3%'/5"$(8($,$.)"@7("."%$>.6,;.1<%"
@7( " ,6+(>$.5.) " #$(0+.5. " ).,%$" -%&($+7$. " B0" @7(0+2(0 " .)&,(6+.,0" /% " @7( " .6+(0 "T:%-,(+x " %8"
h65,$%6)(6+.'"b%7$6.',0+04"YZZiU9"L0"M%$6.,04"0%&$(+7/%"%0").,%$(04"#.00.$.)"."5%+.$"#('%")(6%0"
7)"$(#C$+($"B0"@7(0+2(0"/%".)&,(6+("("Yi"#%$"-(6+%"/.0"+('(5,02(0"$(>,%6.,0"0(>7,$.)"%")(0)%"
-.),6D%9"
!"@7.6+,/./("/("/(/,-.1<%"+(5("+.)&3)"%".-%)#.6D.)(6+%"/."@7.',/./("("PQQY"8%,"%".6%"/("
.+$,&7,1<%"/%"#$3),%"A7',+;($"."+$.&.'D%"0%&$("7)."+()*+,-."$('.-,%6./."-%)"%".)&,(6+(4"#.$."%"
M%$6.' "=-&)-7*/3' + S**9 " L7+$%0 " #$3),%0 " /( " #$(0+G>,% " 8%$.) " 0(6/% " (6+$(>7(0 " . " +$.&.'D%0"
M%$6.'G0+,-%0"0%&$("."+()*+,-.".)&,(6+.'"TO$,(/).64"PQQlU9
L"$(-%6D(-,)(6+%"(6@7.6+%"*$(."(0#(-G8,-."/%"M%$6.',0)%4"-%)".7+%6%),."("(0#(-,.',;.1<%4"
#.00%7".,6/.4"-%)%"6<%"#%/($,."/(,=.$"/(".-%6+(-($4"#('."8%$).1<%"/%0"M%$6.',0+.0"/(".)&,(6+(9"
K%0"h0+./%0"S6,/%04"%0"#$,)(,$%0"-7$0%0"/("M%$6.',0)%".)&,(6+.'"+($<%".$$.6-./%".,6/."6."
/3-./."/("PQ[Z9"K%"(6+.6+%4"."%8($+."-%6+,67%7"."0($"/,),67+.9"h"%"-(6*$,%").6+(5(E0("-%)"."
,6+($',>.1<%"5($,8,-./."(6+$("%"M%$6.',0)%"/(".)&,(6+("("."(0-$,+."/("-,?6-,.9"h)"5*$,%0"-7$0%04"
(0+.5.)",6+(>$./%0".)&%0"%0"#$%>$.).09
!#(0.$ " /(0+. " ',>.1<% " 7)&,',-.'4 " % " /(0.8,% " -%'%-./% " #('. " -%&($+7$. " -$(0-(6+( " /( " .0076+%0"
-%)#'(=%0"/."*$(."/%".)&,(6+("'(5%7"."@7("%0"$(#C$+($(0"#$%-7$.00()"8%$).1<%",6,-,.'"6."*$(."("
.,6/."8%$).1<%"#($).6(6+(9
!"#$%-7$."/(0+(0"-7$0%04"@7("-$(0-,.)"6%0"&-7A%"76,5($0,+*$,%04"6<%"($."(=-'70,5."/%0"(0+7/.6+(0"
/("M%$6.',0)%"(",6+($(00.5."+.)&3)".%0".'76%0"#$%5(6,(6+(0"/."*$(."/.0"-,?6-,.09
K%0"h0+./%0"S6,/%0"(=,0+()").,0"/("5,6+("-7$0%0"07#($,%$(0"@7("/(/,-.)"#('%")(6%0"7)."#.$+("
B"-%)76,-.1<%"6."*$(."/%".)&,(6+(4"%7"#%007()"#7&',-.12(0"#($,C/,-.0".%".0076+%9"h=,0+()"
.'>7).0"76,5($0,/./(0"@7("/,0#%6,&,',;.)"-7$0%0".7+C6%)%0"/("M%$6.',0)%".)&,(6+.'9"
S)"/%0"#.00%0",)#%$+.6+(0"#.$."." /(',),+.1<%"/(" 7)"-.)#%4 "6(0+( "-.0%4" #$%8,00,%6.'"3" ."
(=,0+?6-,."/("7)"0(6+,)(6+%"/("#($+(61."."7)."-'.00("#$%8,00,%6.'"(0#(-G8,-.9"A.$."@7("+.'"
.-%6+(1."/(5("(0+.$E0("#($.6+("7)."-.+(>%$,."#$%8,00,%6.'"@7("0("-.$.-+($,;."#%$"#.$)(+$%0"@7("
."/(0+.-.)"()"$('.1<%"."+%/.0".0"%7+$.0"H"(=,>,6/%"7)"-%$#%"/("0.&($"(0#(-G8,-%4"7)"-%6M76+%"
/("+3-6,-.0"("7)"0.&($E8.;($"@7("0<%"/,0+,6+%0"/("+%/.0".0"%7+$.0"#$%8,002(0"%7"$.)%0"/("7)."
)(0)."#$%8,00<%4"0,6>7'.$,;.6/%E.9
A$%00(>7,6/%"-%)".".6*',0("/%"-.0%"/%0"hS!4"5($,8,-.E0("@7(4"()"-%60%66-,."-%)"%",6-$()(6+%"
/%"M%$6.',0)%".)&,(6+.'"5($,8,-./%"(6+$("%0".6%0"/("PQRR"("PQQZ4"07$>,7"()"PQRQ"."M*"$(8($,/."
='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535" T:hbU9"L"%$>.6,0)%4".>%$.",6+($6.-,%6.'4"$(07'+%7"/("7)"
>$7#%"/("M%$6.',0+.0">.'.$/%./%04"8%$)./%"#%$"$(#C$+($(04"(/,+%$(0"("#$%/7+%$(04"%$,76/%0"/%+R0*+
!0%$-,*$A0%-+P/T>%)*)F"/% "2=N+R',-?4"/% "R>)/*)+S)'-,&-53%/;F"/. ".%//*5'3-+!>#$%&+U-,%'" ("/%"
!$
4-3%'/-$+V*';)-A0%&9
!#C0"7)"#$%-(00%"/("-$(0-,)(6+%4".":hb"$%6/.5."%0"PPZZ".00%-,./%04"()"PQQ[9"!-+7.')(6+(4"/("
.-%$/%"-%)"%0"/./%0".5.61./%0"6."#*>,6."%8,-,.'"/%":hb"6."W6+($6(+"T:%-,(+x"%8"h65,$%6)(6+.'"
b%7$6.',0+04"YZZiU"$%6/.$*"%0"PlZZ".00%-,./%04"(6+$("M%$6.',0+.0"(".-./3),-%04"#($+(6-(6+(0".%0"
).,0"5.$,./%0"C$><%0"/("-%)76,-.1<%"0,+7./%0"6%0"h0+./%0"S6,/%0"("%7+$%0"eY"#.G0(09
J"7)."%$>.6,;.1<%"0()"8,60"'7-$.+,5%0"@7("8%$6(-("%#%$+76,/./(0"/("8%$).1<%"(".#%,%".%0"
M%$6.',0+.0"/("+%/%0"%0")(,%0"/("-%)76,-.1<%"@7("0("/(/,-.)"B"-%&($+7$."/("+().0".)&,(6+.,09"!"
8,6.',/./("."@7("0("5%+."3"0,6+(+,;./."6."/(-'.$.1<%"/("),00<%"/.":hbN
WR0*+7%55%'/+'@+30*+='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535+%5+3'+-,:-/&*+A>#$%&+>/,*)53-/,%/;+'@ +
*/:%)'/7*/3-$+%55>*5+#?+%7A)':%/;+30*+T>-$%3?<+-&&>)-&?<+-/,+:%5%#%$%3?+'/+*/:%)'/7*/3-$ +
)*A')3%/;FX+Y='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535<+IZZ[+
!"876/.1<%"/.":hb"#$%-7$%7"#$,).$"#('.",6/(#(6/?6-,."(4"#.$."+.'4"/(,=%7"/("8%$."@7.,0@7($"
.#%,%0 " %7 " #.+$%-G6,%0 " #$%5(6,(6+(0 " /( " (6+,/./(0 " #I&',-.0 " %7 " #$,5./.0 " @7( " 6<% " 8%00()"
(0+$,+.)(6+("/("6.+7$(;."M%$6.'G0+,-.9"!"#$,%$,/./("/.":hb"#.00.5."#%$4"/(0/(",6G-,%4").6+($"%"@7("
(6+(6/,.)"0($"7).").$-."/(",6/(#(6/?6-,."$('.+,5.)(6+("."#%/($(0",6/(0(M./%0"("#%$"#$(5(6,$"
(5(6+7.,0 " (0#.1%0 " #.$. " +(6+.+,5.0 " /( " /%),6.1<% " %7 " #.$. " (=($-G-,% " /( " #$(00<% " ,'(>G+,).9 "!"
/().$-.1<%"/(">$7#%0".)&,(6+.',0+.0"%7"/.0",6/I0+$,.0"/%".)&,(6+("8%,"7)."/.0"#$($$%>.+,5.0"
,6,-,.,09
K.0"#.'.5$.0"/%".-./3),-%"b%D6"!9"A.'(64"."876/.1<%"("%"/(0(65%'5,)(6+%",6,-,.'"/.":hb"0,+7.E0("
6.",6+($0(-1<%"/("/7.0"*$(.0"/(",65(0+,>.1<%".-./3),-.N"PU"%"/(0#%6+.$"/%"M%$6.',0)%".)&,(6+.'"
(6@7.6+%"-.)#%"(0#(-G8,-%"("YU"%"/(0(65%'5,)(6+%"/%"-%6-(,+%"/("%&M(-+,5,/./("/%"M%$6.',0)%"
.)($,-.6%"TA.'(64"PQQRU9
! " 8%$1. " @7( " % " .)&,(6+.',0)% " 8%, " >.6D.6/%4 " (6@7.6+% " #$%&'(). " 0%-,.' " ( " #%'G+,-%4 " 8(;E0("
.-%)#.6D.$"#('%"-%$$(0#%6/(6+("/(0#($+.$"/%"M%$6.',0)%".)&,(6+.'9"!"(0#(-,.',;.1<%">$./7.'"/%0"
M%$6.',0+.0"6."+()*+,-.".)&,(6+.'"'(5.6+%74"6%0"h0+./%0"S6,/%04".0"@7(0+2(0"/(",6/(#(6/?6-,."
/%0"$(#C$+($(0"("/.0"#$(002(0"."@7("8,-.)").,0"57'6($*5(,04".%0",6+($(00(0"/.0"8%6+(04"B"6<%"
/,5($0,8,-.1<%"/.0"8%6+(0"/(",68%$).1<%4"(6+$("%7+$.0"-.$.-+($G0+,-.09"L0"#$,)(,$%0"M%$6.',0+.0"/("
.)&,(6+("(68$(6+.$.)".,6/."."-%6-(#1<%"/("0("+$.+.$"/("7)"+,#%"/("M%$6.',0)%"),',+.6+("%7"
,/(%'%>,-.)(6+("-%)#$%)(+,/%"T,/()4",&,/()U9
!" h7$%#. " +.)&3) " (65($(/%7 " #('.0 " 5,.0 " /( " (0#(-,.',;.1<% " M%$6.'G0+,-.4 " 6%)(./.)(6+(4 " 6."
5($+(6+(".)&,(6+.'9"h)"h0#.6D.4"6%",6G-,%"/."/3-./."/("PQRZ4"."O.-7'/./("/("X,?6-,.0"/."
W68%$).1<%4"/."S6,5($0,/./("/(":(5,'D.4"+%)%7"%"$7)%"/."(0#(-,.',;.1<%".%",6+(>$.$"6%"0(7"#'.6%"
/("(0+7/%0"7)."-./(,$."/(6%),6./."W68%$).1<%"b%$6.'G0+,-."h0#(-,.',;./.4"/."@7.'"/($,5.5.)4"
()"0,0+()."/("%#1<%4".0"07&E*$(.0"/("b%$6.',0)%"X7'+7$.'4"b%$6.',0)%"_(0#%$+,5%4"b%$6.',0)%"
:%-,.'4 " b%$6.',0)% " A%'G+,-%4 " 0() " @7( " 6(6D7). " /.0 " (=,0+(6+(0 " 8%00( " /(/,-./. " .%0 " .0076+%0"
.)&,(6+.,09"XD(>%7"."(0+.$"#$(5,0+."."-./(,$."/("b%$6.',0)%"X,(6+G8,-%"("!)&,(6+.'4").0"(0+."
I'+,).".-.&%7"#%$"-.,$"#%$"+($$.4"#%$"(6+(6/($E0("(0+.$",6+(>$./."M*"6%"-%6-(,+%"/("o-,(6+G8,-%p9"
!%
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf
Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf

Mais conteúdo relacionado

Semelhante a Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf

my REsearch PROject final
my REsearch PROject finalmy REsearch PROject final
my REsearch PROject finalFaisal Waheed
 
Análisis económico de algunos impactos del cambio climático en Europa: un enf...
Análisis económico de algunos impactos del cambio climático en Europa: un enf...Análisis económico de algunos impactos del cambio climático en Europa: un enf...
Análisis económico de algunos impactos del cambio climático en Europa: un enf...EOI Escuela de Organización Industrial
 
Climate Change Impacts In Europe
Climate Change Impacts In EuropeClimate Change Impacts In Europe
Climate Change Impacts In Europercysostenibilidad
 
Presentación saia ingles
Presentación saia inglesPresentación saia ingles
Presentación saia ingleszodiak vargas
 
A SURVEY ON THE METHODS TO PREDICT RATE OF
A SURVEY ON THE METHODS TO PREDICT RATE OFA SURVEY ON THE METHODS TO PREDICT RATE OF
A SURVEY ON THE METHODS TO PREDICT RATE OFPanagiotis Iliopoulos
 
Grsg abstract book v5 Advances in Geological Remote Sensing
Grsg abstract book v5 Advances in Geological Remote Sensing Grsg abstract book v5 Advances in Geological Remote Sensing
Grsg abstract book v5 Advances in Geological Remote Sensing Remote Sensing GEOIMAGE
 
Ecel 2010-nyamapfene mt-cfp
Ecel 2010-nyamapfene mt-cfpEcel 2010-nyamapfene mt-cfp
Ecel 2010-nyamapfene mt-cfpAbel Nyamapfene
 
Comunicación cientítica
Comunicación cientíticaComunicación cientítica
Comunicación cientíticacmclasalle
 
executive_summary_TIRSAHSA (1)
executive_summary_TIRSAHSA (1)executive_summary_TIRSAHSA (1)
executive_summary_TIRSAHSA (1)Dione Negre
 
Dissertaton Benoît Robart - MSc. Environmental Entrepreneurship
Dissertaton Benoît Robart - MSc. Environmental EntrepreneurshipDissertaton Benoît Robart - MSc. Environmental Entrepreneurship
Dissertaton Benoît Robart - MSc. Environmental EntrepreneurshipBenoît Robart
 
Methods-qualitativeSampleTitleReferences.docx
Methods-qualitativeSampleTitleReferences.docxMethods-qualitativeSampleTitleReferences.docx
Methods-qualitativeSampleTitleReferences.docxARIV4
 

Semelhante a Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf (14)

my REsearch PROject final
my REsearch PROject finalmy REsearch PROject final
my REsearch PROject final
 
Accent Plus: Linking Science and Policy
Accent Plus: Linking Science and PolicyAccent Plus: Linking Science and Policy
Accent Plus: Linking Science and Policy
 
Análisis económico de algunos impactos del cambio climático en Europa: un enf...
Análisis económico de algunos impactos del cambio climático en Europa: un enf...Análisis económico de algunos impactos del cambio climático en Europa: un enf...
Análisis económico de algunos impactos del cambio climático en Europa: un enf...
 
Climate Change Impacts In Europe
Climate Change Impacts In EuropeClimate Change Impacts In Europe
Climate Change Impacts In Europe
 
Presentación saia ingles
Presentación saia inglesPresentación saia ingles
Presentación saia ingles
 
A SURVEY ON THE METHODS TO PREDICT RATE OF
A SURVEY ON THE METHODS TO PREDICT RATE OFA SURVEY ON THE METHODS TO PREDICT RATE OF
A SURVEY ON THE METHODS TO PREDICT RATE OF
 
Grsg abstract book v5 Advances in Geological Remote Sensing
Grsg abstract book v5 Advances in Geological Remote Sensing Grsg abstract book v5 Advances in Geological Remote Sensing
Grsg abstract book v5 Advances in Geological Remote Sensing
 
Ecel 2010-nyamapfene mt-cfp
Ecel 2010-nyamapfene mt-cfpEcel 2010-nyamapfene mt-cfp
Ecel 2010-nyamapfene mt-cfp
 
Comunicación cientítica
Comunicación cientíticaComunicación cientítica
Comunicación cientítica
 
executive_summary_TIRSAHSA (1)
executive_summary_TIRSAHSA (1)executive_summary_TIRSAHSA (1)
executive_summary_TIRSAHSA (1)
 
Dissertaton Benoît Robart - MSc. Environmental Entrepreneurship
Dissertaton Benoît Robart - MSc. Environmental EntrepreneurshipDissertaton Benoît Robart - MSc. Environmental Entrepreneurship
Dissertaton Benoît Robart - MSc. Environmental Entrepreneurship
 
Thesis Final Sept 2.15 PDF as published
Thesis  Final Sept 2.15 PDF as publishedThesis  Final Sept 2.15 PDF as published
Thesis Final Sept 2.15 PDF as published
 
Methods-qualitativeSampleTitleReferences.docx
Methods-qualitativeSampleTitleReferences.docxMethods-qualitativeSampleTitleReferences.docx
Methods-qualitativeSampleTitleReferences.docx
 
WIPAC Monthly - February 2022
WIPAC Monthly - February 2022WIPAC Monthly - February 2022
WIPAC Monthly - February 2022
 

Mais de João Soares

DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSO
DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSODANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSO
DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSOJoão Soares
 
How Google enables Big Oil’s greenwashing-Final Report
How Google enables Big Oil’s greenwashing-Final ReportHow Google enables Big Oil’s greenwashing-Final Report
How Google enables Big Oil’s greenwashing-Final ReportJoão Soares
 
The Entropy Law and the Economic Process
The Entropy Law and the Economic ProcessThe Entropy Law and the Economic Process
The Entropy Law and the Economic ProcessJoão Soares
 
E-Livro - Elogio da Loucura, por Erasmo de Roterdão
E-Livro - Elogio da Loucura, por Erasmo de RoterdãoE-Livro - Elogio da Loucura, por Erasmo de Roterdão
E-Livro - Elogio da Loucura, por Erasmo de RoterdãoJoão Soares
 
Constituição da República Portuguesa 1976
Constituição da República Portuguesa 1976Constituição da República Portuguesa 1976
Constituição da República Portuguesa 1976João Soares
 
War is a crime against humanity: The Story of War Resisters’ International
War is a crime against humanity: The Story of War Resisters’ InternationalWar is a crime against humanity: The Story of War Resisters’ International
War is a crime against humanity: The Story of War Resisters’ InternationalJoão Soares
 
Extending Russia: Competing from Advantageous Ground
Extending Russia: Competing from Advantageous GroundExtending Russia: Competing from Advantageous Ground
Extending Russia: Competing from Advantageous GroundJoão Soares
 
Pensar Portugal – A modernidade de um país antigo
Pensar Portugal – A modernidade de um país antigoPensar Portugal – A modernidade de um país antigo
Pensar Portugal – A modernidade de um país antigoJoão Soares
 
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdf
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdfVista do Ethos Mundial - Um consenso mínimo entre os humanos.pdf
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdfJoão Soares
 
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-Statement
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-StatementBulletin of the Atomic Scientisits 2024-Doomsday-Clock-Statement
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-StatementJoão Soares
 
The Man in The High Castle Philip K. Dick
The Man in The High Castle Philip K. DickThe Man in The High Castle Philip K. Dick
The Man in The High Castle Philip K. DickJoão Soares
 
o homem do castelo alto - philip k. dick
o homem do castelo alto - philip k. dicko homem do castelo alto - philip k. dick
o homem do castelo alto - philip k. dickJoão Soares
 
Falsas catástrofes invisíveis e ameaças de destruição
Falsas catástrofes invisíveis e ameaças de destruiçãoFalsas catástrofes invisíveis e ameaças de destruição
Falsas catástrofes invisíveis e ameaças de destruiçãoJoão Soares
 
Cronologia das organizações de direita (1973-1976)
Cronologia das organizações de direita (1973-1976)Cronologia das organizações de direita (1973-1976)
Cronologia das organizações de direita (1973-1976)João Soares
 
Introdução ao pensamento feminista negro
Introdução ao pensamento feminista negroIntrodução ao pensamento feminista negro
Introdução ao pensamento feminista negroJoão Soares
 
Queer Palestine and the Empire of Critique
Queer Palestine and the Empire of CritiqueQueer Palestine and the Empire of Critique
Queer Palestine and the Empire of CritiqueJoão Soares
 
Livro - Modernidade liquida por Zygmunt Bauman
Livro - Modernidade liquida por Zygmunt BaumanLivro - Modernidade liquida por Zygmunt Bauman
Livro - Modernidade liquida por Zygmunt BaumanJoão Soares
 
Um Manifesto Anarquista - Louisa Sarah Bevington
Um Manifesto Anarquista - Louisa Sarah BevingtonUm Manifesto Anarquista - Louisa Sarah Bevington
Um Manifesto Anarquista - Louisa Sarah BevingtonJoão Soares
 
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...João Soares
 
Tese Doutoramento sobre a "cunha" em Portugal - João Ribeiro
Tese  Doutoramento sobre a "cunha" em Portugal - João RibeiroTese  Doutoramento sobre a "cunha" em Portugal - João Ribeiro
Tese Doutoramento sobre a "cunha" em Portugal - João RibeiroJoão Soares
 

Mais de João Soares (20)

DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSO
DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSODANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSO
DANÇAR O ZEN: APRENDIZADO E POÉTICAS DE UM PROCESSO
 
How Google enables Big Oil’s greenwashing-Final Report
How Google enables Big Oil’s greenwashing-Final ReportHow Google enables Big Oil’s greenwashing-Final Report
How Google enables Big Oil’s greenwashing-Final Report
 
The Entropy Law and the Economic Process
The Entropy Law and the Economic ProcessThe Entropy Law and the Economic Process
The Entropy Law and the Economic Process
 
E-Livro - Elogio da Loucura, por Erasmo de Roterdão
E-Livro - Elogio da Loucura, por Erasmo de RoterdãoE-Livro - Elogio da Loucura, por Erasmo de Roterdão
E-Livro - Elogio da Loucura, por Erasmo de Roterdão
 
Constituição da República Portuguesa 1976
Constituição da República Portuguesa 1976Constituição da República Portuguesa 1976
Constituição da República Portuguesa 1976
 
War is a crime against humanity: The Story of War Resisters’ International
War is a crime against humanity: The Story of War Resisters’ InternationalWar is a crime against humanity: The Story of War Resisters’ International
War is a crime against humanity: The Story of War Resisters’ International
 
Extending Russia: Competing from Advantageous Ground
Extending Russia: Competing from Advantageous GroundExtending Russia: Competing from Advantageous Ground
Extending Russia: Competing from Advantageous Ground
 
Pensar Portugal – A modernidade de um país antigo
Pensar Portugal – A modernidade de um país antigoPensar Portugal – A modernidade de um país antigo
Pensar Portugal – A modernidade de um país antigo
 
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdf
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdfVista do Ethos Mundial - Um consenso mínimo entre os humanos.pdf
Vista do Ethos Mundial - Um consenso mínimo entre os humanos.pdf
 
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-Statement
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-StatementBulletin of the Atomic Scientisits 2024-Doomsday-Clock-Statement
Bulletin of the Atomic Scientisits 2024-Doomsday-Clock-Statement
 
The Man in The High Castle Philip K. Dick
The Man in The High Castle Philip K. DickThe Man in The High Castle Philip K. Dick
The Man in The High Castle Philip K. Dick
 
o homem do castelo alto - philip k. dick
o homem do castelo alto - philip k. dicko homem do castelo alto - philip k. dick
o homem do castelo alto - philip k. dick
 
Falsas catástrofes invisíveis e ameaças de destruição
Falsas catástrofes invisíveis e ameaças de destruiçãoFalsas catástrofes invisíveis e ameaças de destruição
Falsas catástrofes invisíveis e ameaças de destruição
 
Cronologia das organizações de direita (1973-1976)
Cronologia das organizações de direita (1973-1976)Cronologia das organizações de direita (1973-1976)
Cronologia das organizações de direita (1973-1976)
 
Introdução ao pensamento feminista negro
Introdução ao pensamento feminista negroIntrodução ao pensamento feminista negro
Introdução ao pensamento feminista negro
 
Queer Palestine and the Empire of Critique
Queer Palestine and the Empire of CritiqueQueer Palestine and the Empire of Critique
Queer Palestine and the Empire of Critique
 
Livro - Modernidade liquida por Zygmunt Bauman
Livro - Modernidade liquida por Zygmunt BaumanLivro - Modernidade liquida por Zygmunt Bauman
Livro - Modernidade liquida por Zygmunt Bauman
 
Um Manifesto Anarquista - Louisa Sarah Bevington
Um Manifesto Anarquista - Louisa Sarah BevingtonUm Manifesto Anarquista - Louisa Sarah Bevington
Um Manifesto Anarquista - Louisa Sarah Bevington
 
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...
Inquérito aos Hábitos de Leitura dos Estudantes do 1.º Ciclo do Ensino Superi...
 
Tese Doutoramento sobre a "cunha" em Portugal - João Ribeiro
Tese  Doutoramento sobre a "cunha" em Portugal - João RibeiroTese  Doutoramento sobre a "cunha" em Portugal - João Ribeiro
Tese Doutoramento sobre a "cunha" em Portugal - João Ribeiro
 

Último

Contact Number Call Girls Service In Goa 9316020077 Goa Call Girls Service
Contact Number Call Girls Service In Goa  9316020077 Goa  Call Girls ServiceContact Number Call Girls Service In Goa  9316020077 Goa  Call Girls Service
Contact Number Call Girls Service In Goa 9316020077 Goa Call Girls Servicesexy call girls service in goa
 
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Number
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp NumberHot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Number
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Numberkumarajju5765
 
Booking open Available Pune Call Girls Parvati Darshan 6297143586 Call Hot I...
Booking open Available Pune Call Girls Parvati Darshan  6297143586 Call Hot I...Booking open Available Pune Call Girls Parvati Darshan  6297143586 Call Hot I...
Booking open Available Pune Call Girls Parvati Darshan 6297143586 Call Hot I...Call Girls in Nagpur High Profile
 
Horizon Net Zero Dawn – keynote slides by Ben Abraham
Horizon Net Zero Dawn – keynote slides by Ben AbrahamHorizon Net Zero Dawn – keynote slides by Ben Abraham
Horizon Net Zero Dawn – keynote slides by Ben Abrahamssuserbb03ff
 
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...PsychicRuben LoveSpells
 
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Booking
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance BookingCall Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Booking
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Bookingroncy bisnoi
 
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...SUHANI PANDEY
 
Alandi Road ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready ...
Alandi Road ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready ...Alandi Road ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready ...
Alandi Road ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready ...tanu pandey
 
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...Call Girls in Nagpur High Profile
 
Kondhwa ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready For ...
Kondhwa ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready For ...Kondhwa ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready For ...
Kondhwa ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready For ...tanu pandey
 
Book Sex Workers Available Pune Call Girls Kondhwa 6297143586 Call Hot India...
Book Sex Workers Available Pune Call Girls Kondhwa  6297143586 Call Hot India...Book Sex Workers Available Pune Call Girls Kondhwa  6297143586 Call Hot India...
Book Sex Workers Available Pune Call Girls Kondhwa 6297143586 Call Hot India...Call Girls in Nagpur High Profile
 
Proposed Amendments to Chapter 15, Article X: Wetland Conservation Areas
Proposed Amendments to Chapter 15, Article X: Wetland Conservation AreasProposed Amendments to Chapter 15, Article X: Wetland Conservation Areas
Proposed Amendments to Chapter 15, Article X: Wetland Conservation Areas💥Victoria K. Colangelo
 
DENR EPR Law Compliance Updates April 2024
DENR EPR Law Compliance Updates April 2024DENR EPR Law Compliance Updates April 2024
DENR EPR Law Compliance Updates April 2024itadmin50
 
Call On 6297143586 Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...
Call On 6297143586  Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...Call On 6297143586  Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...
Call On 6297143586 Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...tanu pandey
 
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Stand
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night StandHot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Stand
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Standkumarajju5765
 
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...SUHANI PANDEY
 
Booking open Available Pune Call Girls Yewalewadi 6297143586 Call Hot Indian...
Booking open Available Pune Call Girls Yewalewadi  6297143586 Call Hot Indian...Booking open Available Pune Call Girls Yewalewadi  6297143586 Call Hot Indian...
Booking open Available Pune Call Girls Yewalewadi 6297143586 Call Hot Indian...Call Girls in Nagpur High Profile
 

Último (20)

Contact Number Call Girls Service In Goa 9316020077 Goa Call Girls Service
Contact Number Call Girls Service In Goa  9316020077 Goa  Call Girls ServiceContact Number Call Girls Service In Goa  9316020077 Goa  Call Girls Service
Contact Number Call Girls Service In Goa 9316020077 Goa Call Girls Service
 
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Number
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp NumberHot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Number
Hot Call Girls 🫤 Malviya Nagar ➡️ 9711199171 ➡️ Delhi 🫦 Whatsapp Number
 
Booking open Available Pune Call Girls Parvati Darshan 6297143586 Call Hot I...
Booking open Available Pune Call Girls Parvati Darshan  6297143586 Call Hot I...Booking open Available Pune Call Girls Parvati Darshan  6297143586 Call Hot I...
Booking open Available Pune Call Girls Parvati Darshan 6297143586 Call Hot I...
 
Horizon Net Zero Dawn – keynote slides by Ben Abraham
Horizon Net Zero Dawn – keynote slides by Ben AbrahamHorizon Net Zero Dawn – keynote slides by Ben Abraham
Horizon Net Zero Dawn – keynote slides by Ben Abraham
 
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...
$ Love Spells 💎 (310) 882-6330 in Pennsylvania, PA | Psychic Reading Best Bla...
 
Sustainable Packaging
Sustainable PackagingSustainable Packaging
Sustainable Packaging
 
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Booking
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance BookingCall Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Booking
Call Girls Budhwar Peth Call Me 7737669865 Budget Friendly No Advance Booking
 
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...
VIP Model Call Girls Bhosari ( Pune ) Call ON 8005736733 Starting From 5K to ...
 
Alandi Road ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready ...
Alandi Road ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready ...Alandi Road ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready ...
Alandi Road ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready ...
 
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...
VVIP Pune Call Girls Koregaon Park (7001035870) Pune Escorts Nearby with Comp...
 
Kondhwa ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready For ...
Kondhwa ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready For ...Kondhwa ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready For ...
Kondhwa ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready For ...
 
Book Sex Workers Available Pune Call Girls Kondhwa 6297143586 Call Hot India...
Book Sex Workers Available Pune Call Girls Kondhwa  6297143586 Call Hot India...Book Sex Workers Available Pune Call Girls Kondhwa  6297143586 Call Hot India...
Book Sex Workers Available Pune Call Girls Kondhwa 6297143586 Call Hot India...
 
young Whatsapp Call Girls in Delhi Cantt🔝 9953056974 🔝 escort service
young Whatsapp Call Girls in Delhi Cantt🔝 9953056974 🔝 escort serviceyoung Whatsapp Call Girls in Delhi Cantt🔝 9953056974 🔝 escort service
young Whatsapp Call Girls in Delhi Cantt🔝 9953056974 🔝 escort service
 
E Waste Management
E Waste ManagementE Waste Management
E Waste Management
 
Proposed Amendments to Chapter 15, Article X: Wetland Conservation Areas
Proposed Amendments to Chapter 15, Article X: Wetland Conservation AreasProposed Amendments to Chapter 15, Article X: Wetland Conservation Areas
Proposed Amendments to Chapter 15, Article X: Wetland Conservation Areas
 
DENR EPR Law Compliance Updates April 2024
DENR EPR Law Compliance Updates April 2024DENR EPR Law Compliance Updates April 2024
DENR EPR Law Compliance Updates April 2024
 
Call On 6297143586 Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...
Call On 6297143586  Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...Call On 6297143586  Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...
Call On 6297143586 Pimpri Chinchwad Call Girls In All Pune 24/7 Provide Call...
 
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Stand
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night StandHot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Stand
Hot Call Girls |Delhi |Preet Vihar ☎ 9711199171 Book Your One night Stand
 
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...
VIP Model Call Girls Chakan ( Pune ) Call ON 8005736733 Starting From 5K to 2...
 
Booking open Available Pune Call Girls Yewalewadi 6297143586 Call Hot Indian...
Booking open Available Pune Call Girls Yewalewadi  6297143586 Call Hot Indian...Booking open Available Pune Call Girls Yewalewadi  6297143586 Call Hot Indian...
Booking open Available Pune Call Girls Yewalewadi 6297143586 Call Hot Indian...
 

Comunicação Ambiental – As Alterações Climáticas Nos Jornais.pdf

  • 1. Universidade de Aveiro Ano 2009 Secção Autónoma de Ciências Jurídicas e Políticas EULÁLIA ENGRÁCIA PEIXOTO PEREIRA COMUNICAÇÃO AMBIENTAL – AS ALTERAÇÕES CLIMÁTICAS NOS JORNAIS Dissertação apresentada à Universidade de Aveiro para cumprimento dos requisitos necessários à obtenção do grau de Mestre em Comunicação e Educação em Ciência, realizada sob a orientação científica da Doutora Anabela Carvalho, Professora Associada do Departamento de Ciências da Comunicação da Universidade do Minho. Apoio financeiro da FCT no âmbito do projecto de investigação POCI/COM/56973/2004 “A política das Alterações Climáticas – Discursos e Representações”.
  • 2. Dedico este trabalho ao Simão Vilaverde, à Carla Quintas, à minha mãe e à minha irmã, pelas horas de dedicação e paciência.
  • 3. o júri presidente Prof. Doutor Carlos Alberto Diogo Soares Borrego professor Catedrático da Universidade de Aveiro Prof. Doutor Victor Manuel Simões Gil professor Catedrático Convidado Aposentado da Universidade de Aveiro Prof. Doutora Anabela Simões Carvalho professora Associada do Departamento de Ciências da Comunicação da Universidade do Minho Prof. Doutora Fernanda Paula Martins e Castro professora Associada do Departamento de Psicologia Social e das Organizações do Instituto Superior de Ciências do Trabalho e da Empresa – Instituto Universitário de Lisboa (ISCTE-IUL)
  • 4. agradecimentos O meu mais que sincero obrigada à orientadora deste trabalho, Professora Doutora Anabela Carvalho, pela enorme tolerância e dedicação. Agradeço ainda à Professora Doutora Sara Pereira, pela compreensão e abertura
  • 5. palavras-chave Discursos, alterações climáticas, actores sociais, jornalistas, jornais. resumo abstract A presente dissertação é um contributo para o estudo da comunicação das alterações climáticas, tomando como ponto de partida os artigos publicados nos jornais Público e Correio da Manhã no primeiro trimestre de 2007, aquando da publicação do Sumário Executivo do quarto relatório do Painel Intergovernamental para as Alterações Climáticas. A partir da análise de textos jornalísticos e da realização de entrevistas semi-directivas a actores sociais e jornalistas envolvidos na produção de textos acerca das alterações climáticas, pretende-se aqui avançar na compreensão do processo de produção do discurso mediatizado e das percepções mútuas de actores sociais e jornalistas. This master thesis offers a contribution to the study of communication on climate change, based on news articles published in the newspapers Público and Correio da Manhã from January to March 2007. This time frame corresponds to the publication of the Summary for Policymakers of the 4th Assessment Report of the Intergovernmental Panel on Climate Change. Through the analysis of journalistic texts and semi-structured interviews with social actors and journalists involved in the production of media texts on climate change the thesis aims to further the understanding of the process of production of mediated discourse and of mutual perceptions of social actors and journalists.
  • 6. !"#$%& '()*+,-./01/0"+2.#,34.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!" '()*+,-./001/5,(#2.6/+&72$%.6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!# "!$%$&'()*+,*$*$%$*-.&/%$.0(1)2%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! " !"!#$%&'()*+,-%#+&.)/(0+1#&/2)+0)3+2+""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""4 !"5#67)80/#9%:(+1)8&%#+&.)/(0+1;"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !! 3!$&-$&1,*4&/5*-$21)'6,)2&-$*$&-$+%,72)&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#$ 5"!#<%0)*)+:#+8#+10/:+,=/8#*1)&>0)*+8#? #*:)0@:)%8#/#*%(80:+(A)&/(0%8"""""""""""""""""""""""""""""!B 5"5#C8#&/2)+#/#+8#D%(0/8#2/#)(D%:&+,-%""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" 5E '()*+,-./0001/5,&6+8&6/9&+.#.-7:$%(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!38 "!$&+61)-*$9%-$&4,):%-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! %& 3!$*-,;9%$2%'$&2,%4*-$-%2)&)-$*$<%4+&1)-,&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!%' '()*+,-./0;1/<$6%,26./9&#$=+$%./6.>2&/(-+&2(38&6/%-$9=+$%(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!=> "!$9&9%-$?;&+,),&,)@%-$-%(4*$,*A,%-$<%4+&17-,)2%-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!%( 3!$4*.4*-*+,&/B%$9&-$&1,*4&/5*-$21)'6,)2&-$+%$!"#$%&'$*$+%$&'(()%'*+,*-,./0!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!') '()*+,-./;1/?/)&26)&%+$@(/#(6/A."+&6/#&/$"A.29(34./!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!>" "!$.*42*./B%$-%(4*$&1,*4&/5*-$21)'6,)2&-$*$-;&$$'*9)&,)C&/B%!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!$# 3!$-*4$D%+,*$9*$)+D%4'&/B%$-%(4*$&1,*4&/5*-$21)'6,)2&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!() =!$%$<%4+&1)-'%$*$%-$<%4+&1)-,&-$@)-,%-$.*1%-$&2,%4*-$-%2)&)-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!(( '()*+,-./;01/?/)&26)&%+$@(/#.6/B.2"(-$6+(6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! #8 "!$%$<%4+&1)-'%$D&2*$&%-$9*-&D)%-$9&-$&1,*4&/5*-$21)'6,)2&-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"( 3!$-*1*22)%+&4E$?;*$,*'&-$*$?;*$D%+,*-$9*$)+D%4'&/B%F!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#&) 5"!#F#:/*%1G+#2+#)(D%:&+,-%""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""!HI 5"5#F8#D%(0/8#2/#)(D%:&+,-%"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" !HJ '()*+,-./;001/'."%-,68&6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!""3 C$>-$.:2(A$(/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ""# ?"&D.6/!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"3G
  •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
  •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
  •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`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a,%"/(" b.6(,$%4"+.)&3)"-%6D(-,/."-%)%"X,)(,$."/%"a,%"%7"a,%cQYN"."X%65(61<%"d7./$%"/.0"K.12(0" S6,/.0"#.$.".0"!'+($.12(0"X',)*+,-.0"T2/%3*,+4-3%'/5+6)-7*8')9+('/:*/3%'/+'/+($%7-3*+(0-/;*+ H"SKOXXXU4"/.6/%"%$,>()"."$(76,2(0".67.,0"-D.)./.0"X%68($?6-,.0"/.0"A.$+(0"TXLAU"6.0" @7.,0"0("0(6+.)"B")(0."%0"(65%'5,/%0"6."X%65(61<%"d7./$%9 K."-$%6%'%>,."/.0"a('.12(0"W6+($6.-,%6.,0"0%&$(".'+($.12(0"-',)*+,-.04"%").$-%"D,0+C$,-%"%-%$$(7" -%)"."-3'(&$("ef"X%68($?6-,."/.0"A.$+(0"/("d7,%+%"TXLAeU"@7("/(-%$$(7"6."-,/./("M.#%6(0."@7(" 'D("/*"6%)(4"()"PQQ[9"L0"'G/($(0")76/,.,0"$(#$(0(6+./%0"6."$(76,<%".-%$/.$.)".0">$.6/(0" ',6D.0".-($-."/.0"(),002(0"/(">.0(0"-%)"(8(,+%"/("(0+78.9"O,-%7"(0+.&('(-,/%"-%)%"%"A$%+%-%'%" /("d7,%+%"/."X%65(61<%"d7./$%"/.0"K.12(0"S6,/.0"#.$.".0"!'+($.12(0"X',)*+,-.09":(>7,7E0("7)" '%>%"#($G%/%"/("6(>%-,.12(0"@7("(6+$%7"()"5,>%$"()"O(5($(,$%"/("YZZg"T%,+%".6%0"/(#%,0"/%" '.61.)(6+%U4").0"0()"-%6+.$"-%)"."./(0<%"/%"#.G0"$(0#%60*5('"#%$"-($-."/("7)"@7.$+%"/.0" (),002(0".+)%083$,-.0"/%")76/%"H"%0"h0+./%0"S6,/%0"/."!)3$,-.9 S)."/.0"X%68($?6-,.0"/.0"A.$+(0").,0",)#%$+.6+(0"8%,"."XLAi4"@7("/(-%$$(7"()"j.,.4"YZZZ9"K." 5,$.>()"/%"03-7'%4"%0"%&M(-+,5%0"($.)".)&,-,%0%04").0".0"6(>%-,.12(0".-.&.$.)"#%$"8$.-.00.$9"!" $(76,<%"#$%00(>7,7"6%".6%"0(>7,6+(4"()"k%6.4"()"b7'D%"/("YZZP9"!").$.+%6."/("6(>%-,.12(0"/(" lR"D%$.0"-%60(-7+,5.0"'(5%7"."7)".-%$/%"(6+$("%0"#.$+,-,#.6+(0"@7("8,-%7"-%6D(-,/%"-%)%"%0" !-%$/%0"/("k%6.9"L"+(=+%"8,6.'"8%,"('.&%$./%"."#.$+,$"/%0"@7.+$%">$7#%0"/("+$.&.'D%"@7("/,0-7+,$.)N" O,6.61.0F"V(-.6,0)%0F"!/(@7.1<%"("S0%"/%":%'%F"V7/.61."/("S0%"/%":%'%"("O'%$(0+.9"!0" L$>.6,;.12(0"K<%E]%5($6.)(6+.,0"#$(0(6+(0"#$%)%5($.)"%"/(&.+("-%)"5,0+.".%"/,*'%>%"K%$+(E :7'"0%&$(".0".'+($.12(0"-',)*+,-.09 "
  • 10. !'>7).0"@7(0+2(0"/(,=./.0"#(6/(6+(0"+$.60,+.$.)"#.$."."XLA[4"@7("/(-%$$(7"()"V.$$.@7(=(4" ()"L7+7&$%"/("YZZP9"!"-%68($?6-,."876-,%6%7"-%)%"#$(#.$.1<%"#.$."."X,)(,$."/."^($$.4").$-./." #.$. " b%.6(0&7$>%4 " 6% " .6% " 0(>7,6+(9 " K. " XLAR4 " @7( " +(5( " '7>.$ " () " YZZY4 " () " K%5. " _(D',4" (0+.&('(-(7E0( " ',>.1<% " (6+$( " %0 " -%6-(,+%0 " /( " /(0(65%'5,)(6+% " 070+(6+*5(' " ( " /( " .'+($.12(0" -',)*+,-.0"("."/(-'.$.1<%"8,6.'"/."$(76,<%".#('%7"B"(8(-+,5."$(/71<%"/.0"(),002(0"/("/,C=,/%"/(" -.$&%6%"("B"/,),67,1<%"/."57'6($.&,',/./("B0".'+($.12(0"-',)*+,-.09 h)"YZZl4"()"k7(6%0"!,$(04"6."XLAPZ4"8%,"/,0-7+,/%"%"87+7$%"/%"#$%+%-%'%"/("d7,%+%9"O%,"."I'+,)." -%68($?6-,.".6+(0"/."(6+$./."()"5,>%$"/%"#$%+%-%'%"/("d7,%+%"("%0"Pi[">%5($6%0"$(#$(0(6+./%0" +,5($.)"%-.0,<%"/("+%).$"/(-,02(0"("./%#+.$.)"/,5($0.0"-%6-'702(0"()"$('.1<%".".0076+%0"-%)%" %"70%"/%0"0%'%0"(".")7/.61."/("70%"/%0"0%'%0"("8'%$(0+.0F")(-.6,0)%"8,6.6-(,$%"/."SKOXXXF" -.#.-,/./("/(".-1<%F"(8(,+%0"./5($0%0"("./.#+.1<%"("7)".$+,>%"/."SKOXXX"0%&$("(/7-.1<%4" 8%$).1<%"("%#,6,<%"#I&',-."TWAXXN"YZZRU9 !"XLAPP"/(-%$$(7"6%"8,6.'"/("YZZg4"()"V%6+$(.'"TX.6./*U"("."XLAPY"6%"8,6.'"/("YZZi4"()" K.,$%&,"Td736,.U9"h)"6(>%-,.1<%"(0+(5("."-%6+,67,/./("/%0".-%$/%0",6+($6.-,%6.,0"#.$.".'3)"/%" ',),+("/%"#$%+%-%'%"/("d7,%+%"("6(0+."-%68($?6-,.".0"#.$+(0"/(-,/,$.)"@7("D.5($,."-%6+,67,/./(" /.0")(/,/.0"@7("8,;($.)"#.$+("/%"/%-7)(6+%4"-%)".0"/(5,/.0"./.#+.12(09 !"$(76,<%"@7("0("0(>7,7"/(-%$$(7"6."`0,.4").,0"#$(-,0.)(6+("6."-,/./("/("k.',4"W6/%630,.4".%" '%6>%"/("/7.0"0().6.0"Te"."Pl"/("_(;()&$%"/("YZZ[U9"!"XLAPe"8(;E0("6."-%6+,67,/./("/." #$(/(-(00%$.4"-%)"5,0+."."(6-(+.$"7)"-%)#$%),00%",6+($6.-,%6.'"$('.+,5%"B0")(/,/.0"."5,>%$.$" .#C0"-./7-.$"%"A$%+%-%'%"/("d7,%+%4"()"YZPY9"L"A'.6%"/("!-1<%"('.&%$./%"6."XLAPe"#$(5,."%" /(-7$0%"/("7)"#($G%/%"6(>%-,.'"."/(-%$$($".+3".%"8,6.'"/("YZZQ4"-7M%"%&M(-+,5%"0($,."%"/("/(-,/,$" (0+$.+3>,.0"#.$."070+($".0")7/.61.0"/%"-',).".#C0"YZPY9 K.")(0)."',6D."/("-%65($0.12(0",6+($6.-,%6.,04"."XLAPl"/(-%$$(7"7)".6%"/(#%,04"6."A%'C6,.9" _(0+."$(76,<%"0.,7"7)"-%)#$%),00%"/.0"#.$+(0"()"'(5.$"B"-%68($?6-,."/("X%#(6D.>."YZZQ"7)" +(=+%"#.$."/,0-700<%"(".-%$/%9"!0"-%6-'702(0").,0"$('(5.6+(0"@7("0.G$.)"/."XLAPl"/,;()" $(0#(,+% "B" .&($+7$." .% ".-(00%"/%0" #.G0(0" ()"/(0(65%'5,)(6+%" .% "O76/% "/("!/.#+.1<%" /%" A$%+%-%'%"/("d7,%+%9 !"#$C=,)."-%65(61<%4"."XLAPg4"(0+*").$-./."#.$."%0"/,.0"["."PR"/("_(;()&$%"/("YZZQ4"()" X%#(6D.>.9 " "!" XLAPg " 3 " -%60,/($./. " -$7-,.' " #.$. " /(-,/,$ " @7( " 87+7$% " +($* " . " '7+. " -%6+$. " .0" )7/.61.0"/%"-',).".00,)"@7("(=#,$("%"A$%+%-%'%"/("d7,%+%4"()"YZPY9"L0"+$.&.'D%0"/("#$(#.$.1<%" #.$."." "-%65(61<%"/("X%#(6D.>."/(-%$$()".%"'%6>%"/%".6%"/("YZZQ9"S)"/(0+(0")%)(6+%04" /(0+,6./%"."'.61.$"&.0(0"/("+$.&.'D%"#.$."."X%68($?6-,.4"+(5("'7>.$"6.",'D.",+.',.6."/.":,-G',.4"/(" YY"."Yl"/("!&$,'9"_7$.6+("+$?0"/,.0"(0+,5($.)"$(76,/%0"%0"'G/($(0"/.0"#.0+.0"/%"!)&,(6+("/%0"%,+%" #.G0(0").,0",6/70+$,.',;./%0"/%")76/%"T]$<Ek$(+.6D.4"W+*',.4"O$.61.4"!'().6D.4"hS!4"X.6./*4" b.#<%"("aI00,.U"/%0"#.G0(0"()"/(0(65%'5,)(6+%"TXD,6.4"m6/,.4"k$.0,'U4"$(#$(0(6+.6+(0"/."S6,<%" h7$%#(,."("/.0"K.12(0"S6,/.04").,0"."_,6.).$-."6."@7.',/./("/("#.G0".68,+$,<%"/."XLAPg9"!0" -%65($0.12(0"/(,=.$.)".,6/."B"5,0+.".0"-',5.>(60"(6+$("%0"#.G0(09 !"&$(5(".#$(0(6+.1<%"-$%6%'C>,-."/%0"(6-%6+$%0",6+($6.-,%6.,0".%").,0".'+%"6G5('",6/,-."@7("." #$%&'()*+,-. " /.0 " .'+($.12(0 " -',)*+,-.0 " 8%, " >.6D.6/% " $('(56-,. " #%'G+,-. " +.' " @7( " @7.0( " /7.0" #
  • 11. -(6+(6.0 " /( " h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h=()#'%".-.&./%"3"%".&.6/%6%"/%0"h0+./%0"S6,/%0"/%"#$%+%-%'%"/("d7,%+%4" /7$.6+("%"-%607'./%"/("](%$>("n9"k70D4"()"YZZP4"0%&"."M70+,8,-.1<%"+.=.+,5."/."0.'5.>7.$/."/%0" ,6+($(00(0"(-%6C),-%0"/%"#.G09"L")(0)%".-%6+(-(7"-%)"."!70+$*',.9"h6+$(+.6+%4"%0"hS!"8%$.)" /.6/%")%0+$.0"/(".'>7).".&($+7$."B0"6(>%-,.12(0"(".%"-%)&.+("B0".'+($.12(0"-',)*+,-.0".,6/." /7$.6+("."!/),6,0+$.1<%"k70D4"-%)%"8%,"%"-.0%"/.0"#%0,12(0"./%#+./.0"6."XLAPe4"()"k.',9" a(-%$/(E0("@7("%0"hS!"($.)4"B"/.+."/(".&.6/%6%"/%"A$%+%-%'%"/("d7,%+%4"%").,%$"(),00%$"/(" >.0(0"-%)"(8(,+%"/("(0+78.9"!"0,+7.1<%".'+($%7E0("(6+$(+.6+%"("%-7#.)".>%$."%"0(>76/%"'7>.$""6." +.&('. " /%0 " ).,%$(0" #%'7,/%$(0" /. " .+)%08($.4 " 6<% " #%$@7( " .0 " 07.0 " (),002(0 " +(6D.) " 0%8$,/%" >$.6/(0".'+($.12(04").0"#%$@7("."XD,6.4"(6@7.6+%"(-%6%),."()($>(6+(4".7)(6+%7"%0"0(70" 6G5(,0"/("(),00<%"/(">.0(0"-%)"(8(,+%"/("(0+78.9 d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o-%68',+%p4"0(M."#('."#$%-7$."/%"(@7,'G&$,%"6.0"6%+G-,.04"@7(" .-.&."#%$"/,876/,$".6+.>%6,0)%0"@7("0("#%0,-,%6.)"6%"+(-,/%"0%-,.'4"6%"@7./$%"/%"#($).6(6+(" -%68',+%"/(",6+($(00(09"!",6+$%/71<%"/(")(+.0"/("(),002(0"/("XLY"(".",6+$%/71<%"/("7)")($-./%" $
  • 12. /("-%)3$-,%"/("(),002(0"/("6G5('"(7$%#(7"TXhqh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h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h-%6%),.4"/.0"a('.12(0"W6+($6.-,%6.,04"/." :.I/(4"/%"a,0-%4"/."b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e4"6%0"h0+./%0"S6,/%04".00(6+(0"6%"-%6-(,+%0"/("0(60,&,',/./("-',)*+,-.9"!)&%0"+,5($.)" $(00%66-,.",6+($6.-,%6.'"(".-.&.$.)"#%$"0($",6-'7G/%0"()"/%-7)(6+%0"("#%'G+,-.0"/("5*$,%0" #.G0(0"(",60+,+7,12(0",6+($6.-,%6.,04"-%)%"3"%"-.0%"/%"WAXX"T5.6"/($":'7,M04"b9"(3+-$<+PQQRU9 L"WAXX"+%)%7"%"#.#('"/(")(/,./%$"(6+$(".0"-%6-'702(0"/%"+$.&.'D%"-,(6+G8,-%"("%"-.)#%"/." +%)./."/("/(-,02(04"/,0#%6,&,',;.6/%",68%$).1<%".-($-."/%0"$,0-%0"("/.0"-%60(@7?6-,.0"/.0" %
  • 13. ,68'7?6-,.0".6+$%#%>36,-.0"0%&$("%"0,0+()."-',)*+,-%9"^%$6%7E0("7)")(,%",6+($6.-,%6.'"-%)#'(=%" /(".00(>7$.$"7)"-%60(60%9 h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h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h0+7/%0").,0"$(-(6+(0"5<%"6%"0(6+,/%"/("@7(".0"6%5%0"/./%0",6+$%/7;()").,%$"8'(=,&,',/./(4" ()&%$. " .0 " ',>.12(0 " ,6+($#$(+.+,5.0 " 6(>%-,./.0 " 0(M.) " )7,+.0 " 5(;(0 " ,6-%$#%$./.0 " -%)% " 0(" +,5(00()"07$>,/%"6.+7$.')(6+(9"K."',>.1<%"-,?6-,.E#%'G+,-."%"-%6D(-,)(6+%"-,(6+G8,-%"#%/("0($"5,0+%" -%)%")I+7.4",60(#.$*5('"("0,6-$%6,-.)(6+("-%60+,+7G/%"-%)".0"$(0#%0+.0"("#$%-(00%0"#%'G+,-%0"(" )(0)%"-%)".0",/(6+,/./(0"/%0"/(-,0%$(09"!00,)4"%"0,>6,8,-./%"/("+($)%0"-%)%"c0(60,&,',/./(" -',)*+,-.c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
  • 14. ."+%)./."/("/(-,02(09" K(0+("+$.&.'D%4"#$(+(6/(E0("-%)#$((6/($"@7.,0"0<%".0"5%;(0"#$%M(-+./.0"6%"(0#.1%"#I&',-%" .+$.530"/.",)#$(60.9"d7.,0"0<%"%0".-+%$(0"0%-,.,0").,0"#$(0(6+(0"6.0"6%+G-,.0"$('.-,%6./.0"-%)" .0 " )7/.61.0 " .6+$%#%>36,-.0 " /% " -',).r " X%)% " %'D.) " #.$. " %0 " M%$6.',0+.0 " ( " -%)% " 0( " 5?()" $(+$.+./%0".+$.530"/.0"6%+G-,.0"6.0"@7.,0"0<%"-,+./%0r"_("@7("8%$)."(6-.$.)"%0"M%$6.',0+.0".0" 07.0"8%6+(0"/(",68%$).1<%"6%"-.)#%"/.0".'+($.12(0"-',)*+,-.0r"d7("/(0.8,%0"'D(0"-%'%-."7)" +(). " /( " -%)#'(=,/./( " $(-%6D(-,/. " ( " -7M. " +$.605($0.',/./( " (=,>( " 7) " '(@7( " .&($+% " /(" -%6D(-,)(6+%0r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ls"$('.+C$,%"/%"WAXX",6+,+7'./%"=>77-)?+@')+!'$%&?7-9*)54"7).",)#%$+.6+(" #.$+("/%"/%-7)(6+%",6+(>$.'"@7("0("/(0+,6."."',>.$".0"-%6-'702(0"/."X,?6-,." B".-1<%"#%'G+,-.9" a(-%$$("+.)&3)"B".6*',0("/("(6+$(5,0+.0"$(.',;./.0".%0".-+%$(0"0%-,.,0"@7("07$>()"6.0"6%+G-,.0" 6." @7.',/./( "/("8%6+(0"/(",68%$).1<%" 0%&$(".'+($.12(0" -',)*+,-.09"!"$(-%'D."/(" 6%+G-,.0"8%," (8(-+7./."."#.$+,$"/.0"(/,12(0 "'/$%/*" /%0"M%$6.,04"-%)"$(-7$0%"B0"#.'.5$.0E-D.5(N"c.'+($.12(0" -',)*+,-.0cF"c.@7(-,)(6+%">'%&.'c4"c#$%+%-%'%"/("d7,%+%c4"c(8(,+%"/("(0+78.c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
  •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
  • 16. !!"#,)-(&'.#%/0&12'. 3"#4#-561/$%/#/#'#/.7-*'#786912' !"#$(0(61."/.0".'+($.12(0"-',)*+,-.0"6%"(0#.1%"#I&',-%4".+$.530"/("7)."/.0"8%$).0"#$,5,'(>,./.0" /("-,$-7'.1<%"/.",68%$).1<%"("/."#%+(6-,.1<%"/%"/(&.+("6."0%-,(/./("-%)#'(=."H"%0")(,%0"/(" -%)76,-.1<% " /( " ).00. " H " #%/( " 0($ " 7) " /%0 " -.),6D%0 " #.$. " . " -%)#$((60<% " /.0 " .+,+7/(0 " (" -%)#%$+.)(6+%0"/%0"-,/./<%0"/,.6+("/(0+."#$%&'()*+,-."("+.)&3)"/.".-1<%t,6.-1<%"#%'G+,-.9" X%653)4"#%$+.6+%4"#($-(&($"/("@7("8%$).",$$%)#("%".0076+%"/.0".'+($.12(0"-',)*+,-.0".%"(0#.1%" #I&',-%")(/,.+,;./%9 L0")(,%0"/("-%)76,-.1<%"/(").00."/(0()#(6D.)"7)"#.#('"/(">$.6/(",)#%$+6-,."#.$."%0" -,/./<%0"6%"@7("$(0#(,+.".").+3$,."-,(6+G8,-."("/("+(-6%'%>,."("."#($-(#1<%"@7("#%007()"(6$.G;.E 0("6.0"$(#$(0(6+.12(0"@7("%0")(/,."/,876/()".-($-."/%"-%6D(-,)(6+%"-,(6+G8,-%"TX.$5.'D%4" YZZ[U9"L0"C$><%0"/("-%)76,-.1<%"6<%"0<%"6(7+$%0"6."/,870<%"/.",68%$).1<%"("$(-%6D(-(E0("@7(" (=,0+("7)"#$%-(00%"/("+$.608%$).1<%"/.")(60.>()"/(0/(".",68%$).1<%"#$,)%$/,.'".+3".%"#$%/7+%" 8,6.'"0($5,/%".%"#I&',-%9"X%6-%$$()"/,5($0.0"0,+7.12(0"."(0+("6G5('"("6<%"3"6(>',>(6-,*5('"%"8.-+%" /("%"#$%/7+%"8,6.'"0($"%"$(8'(=%"/("7)"-%6M76+%"/("(0-%'D.09 !0"%#12(0"0<%"8(,+.0"-%)"&.0("6.0"-%6/,-,%6.6+(0").,0"/,5($0.0"@7("-.$.-+($,;.)"%"(=($-G-,%"/." #$%8,00<%"/("M%$6.',0+.9":<%"(0+.0"',),+.12(0"/($,5./.0"@7($"/."A)-B%5",6($(6+(".%"M%$6.',0)%4"@7($" B"6.+7$(;."/."#$%8,00<%4"@7($".,6/.".%"(6@7./$.)(6+%"()#$(0.$,.'"/%"C$><%"/("-%)76,-.1<%"()" -.70.9"L"@7("6%"8,6.'"5.,"$(-(&($"."/(0,>6.1<%"/("6%+G-,."0%8$(7"7)"#$%-(00.)(6+%"/%0"/./%0" ,6,-,.0"@7("0("$(8'(-+("6."8%$)."-%)%"('(0"0<%".#$(0(6+./%04"0%&"."8%$)."/("7)."6.$$.+,5.4"-%)" #($0%6.>(60"("(6$(/%"7$/,/%09 !"u7C5*+*/+5&D/*v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
  • 17. /%"03-7'%"wwUN"%")%/('%"/(0(65%'5,/%"#%$"n(0+'(x"("V.-q(.6"T-,+9"#%$"q%>.64"YZZPU"(65%'5,." 8%6+(4 ")(60.>()4" -.6.'"("$(-(#+%$9 "!%"'%6>%" /("gZ".6%0"%")%/('%" 8%,"0%8$(6/%".'+($.12(0" 07-(00,5.0""("#.00%7".",6+(>$.$"+C#,-%0"-%)%".",68'7?6-,."/%"-',)."-7'+7$.'4",/(%'%>,.0"#%'G+,-."(" -7'+7$.'"/%),6.6+(04"#0,-%'%>,."0%-,.'4")%/('%0"-%>6,+,5%0"-%)#%$+.)(6+.,0"("-%6/,12(0"/("5,/." Tq%>.64"YZZPU9"L"(6@7./$.)(6+%"-'*00,-%"/."-%)76,-.1<%"-,(6+G8,-."%-7#%7E0("#$%876/.)(6+("/%" ,)#.-+%"@7("(00."-%)76,-.1<%"+($,.".%"6G5('"/."$(-(#1<%9"A%$3)4"6<%"/(,=%7"/(">($.$",6+($(00(" ()"/,5($0.0"%7+$.0"5($+(6+(0"(65%'5,/.0"6%"8'7=%"/.0"6%+G-,.04"#.$+,6/%"/%0"-,(6+,0+.04".+$.530"/%0" M%$6.',0+.04".+3".%0"-,/./<%0"Tq%>.64"YZZPU9 V-d7.,'"T-,+9"#%$"q%>.64"YZZPU"-%6-'7,7"@7("%0",65(0+,>./%$(0"#.00.$.)"/%"#.+.).$"/.".5.',.1<%" /. " -$(/,&,',/./( " /. " 8%6+( " #.$. " % " /. " -%)#'(=,/./( " /.0 " $('.12(0 " @7( " 0( " (0+.&('(-() " (6+$(" M%$6.',0+.04"8%6+(0"6%+,-,%0.0"("%7+$%0"('()(6+%0"@7(",6+($5?)"6."('.&%$.1<%"/.0"6%+G-,.09"!" -%)#'(=,8,-.1<%"/%")%/('%"8%,"0(6/%".-(6+7./.9 !"-%)76,-.1<%".)&,(6+.'"6<%"$.$.0"5(;(0"5()".00%-,./."B"-%)76,-.1<%"-,(6+G8,-.9"^.'"3"%"-.0%" /.0".'+($.12(0"-',)*+,-.09":%)%04"#%,04"'(5./%0"."./),+,$4"-%)%"X%="TYZZi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h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i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
  • 18. 07M(,+%0"("0($"-%6+(0+./%09"W0+%"-%)#%$+.",)#',-.12(0",/(%'C>,-.0"@7("0("#'.0).)"6%0"/,0-7$0%0" #%'G+,-%0" 0%&$(" ." -,/./.6,.4 " +($)% " (5%-./% " 6<% " $.$.0" 5(;(0" /(" 8%$)." . " -%'%-.$ " ?68.0( " 6." $(0#%60.&,',/./(",6/,5,/7.'4"@7.6/%"/("8.-+%"0("&.0(,.)"()"-%6-(,+%0"/("%7+$."6.+7$(;.4"-%)%"%0" (-%6C),-%04"#%$"(=()#'%9 !" (=,0+?6-,. " /% " @7( " 0( " -D.). " -,/./.6,. " 6.0 " 0%-,(/./(0 " -%6+()#%$6(.0 " 6<% " 3 " .#(6.0" /%-7)(6+./."#('%0")(,%0"/("-%)76,-.1<%"/(").00.9"V.,0"#$%876/.)(6+(4"(00."-,/./.6,.".#%,.E 0("6(00(0")(0)%0")(/,."#.$."(=,0+,$"Tn.D'Eb%$>(60(64"YZZi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k.0+." '.61.$"%0"%'D%0"0%&$(".0"6%+G-,.0"/,*$,.0"("5($,8,-.$"@7("M*"6<%"0<%"+<%"$.$.0".0"$(8($?6-,.0"."8%6+(0" /( " ,68%$).1<% " B " ).$>() " /.0 " %8,-,.,0 " @7( " #%6+,8,-.) " 6. " W6+($6(+ " ( " @7( " . " #.$+,$ " /('. " 0<%" 0('(--,%6./.09"S)"/%0"-.0%0").,0"#($+,6(6+(0"3"%"@7(".-%6+(-("-%)"%0"&'%>7(04"."@7()".'>760" .#(',/.)"/("5($/./(,$."$(5%'71<%"6%0"#.$)(+$%0"/."/()%-$.-,."#.$+,-,#.+,5."("6."/(8,6,1<%"/%" '7>.$"/%"-,/./<%"6%"(0#.1%"#I&',-%")(/,.+,;./%9 h=,0+("7)."/,8,-7'/./(")(+%/%'C>,-.""@7("/,8,-7'+."%"(0+7/%"/%"(=($-G-,%"/."-,/./.6,."."#.$+,$"/%0" +(=+%0"%7"/.0"#$*+,-.0"+(=+7.,0"Tn.D'Eb%$>(60(64"YZZi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b%$6.',0+.0 " ( " (/,+%$(0 " +$.&.'D.) " () " &70-. " /( " 8%6+(0 " /( " ,68%$).1<% " .)&,(6+.' " -$(/G5(,0 " (" /,0#%6G5(,0"()"3%7%/;5"-.#.;(0"/("0("-%./76.$()"B0"M.6('.0"/("+()#%"("/("(0#.1%"/,0#%6G5(,0" 6%0")(,%0"/("-%)76,-.1<%"/(").00."+$./,-,%6.,09"!"W6+($6(+"/(0()#(6D."%"#.#('"#$,6-,#.'"."(0+(" 6G5('9"L0"#$%8,00,%6.,0"/%"M%$6.',0)%"#%/()"(6-%6+$.$"7)"-%6M76+%"/("(6+,/./(0"@7("8%$6(-()" -%'(-+6(.0"/(",68%$).1<%".-($-."/%0").,0"/,5($0%0".0076+%09 !!
  • 19. !%")(0)%"+()#%4"%"/(0(6-.6+%"-%)"."8%$)."+$./,-,%6.'"-%)%"%0")(/,."+$.+.)".0").+3$,.0" .)&,(6+.,0"'(5."B"#$%',8($.1<%"/("8%$).0".'+($6.+,5.0"/("-%)76,-.1<%"0%&$("%".)&,(6+(9"L0").,0" /,5($0%0">$7#%0"-$,.)"-.6.,0"(0#(-G8,-%0"/("/,870<%"/(",68%$).1<%"("-%6D(-,)(6+%4"-%)%"3"%" -.0% " /%0 " >$7#%0 " .)&,(6+.',0+.04 " 6%0 " @7.,0 " -%60(>7() " @7( " .0 " 07.0 " )(60.>(60 " 0(M.)" #$,5,'(>,./.09"h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h0+./%0"S6,/%04"07$>,7". "='&%*3?+'@+ J/:%)'/7*/3-$+M'>)/-$%535"T:hbU"."@7.'"(0+*"5%+./.".".M7/.$"."6%+,-,.$"%".)&,(6+("("-7M%"#$,6-,#.'" %&M(-+,5%"3"8%$6(-($"."M%$6.',0+.0"("(/,+%$(0"-%)#$((60<%"#I&',-.".-($-."/(".0076+%0".)&,(6+.,0" -$G+,-%09 !":hb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lU".'($+%7"#.$."%"8.-+%"/(")7,+.0"/.0")7/.61.0"@7("%-%$$()".%"6G5('" /.",68%$).1<%".)&,(6+.'"("/.0"8%6+(0"M%$6.'G0+,-.0"#%/($()"0($".00.-./.0"B " "Q')$,+Q%,*+Q*#9"L" J/:%)'/7*/3-$+4*85+=*):%&*" ThK:U"8%,"/.0"#$,)(,$.0"(=#($,?6-,.0"(8(-+7./.0"."(0+("6G5('4"()" PQQZ9"X%60,0+("67)"#%$+.'"/("6%+G-,.0",6/(#(6/(6+("@7("3".',)(6+./%"#%$").,0"/("l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
  •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h0+.")(0)."(0#(-,.',;.1<%"5()"+%).6/%"-./."5(;").,%$" /,)(60<%"6%"@7("0("$(8($(".%"M%$6.',0)%9"!"(5%'71<%"#('."5,."/."(0#(-,.',;.1<%"/%0"-%6+(I/%04" /,$(--,%6./%0"#.$."#I&',-%0"(0#(-G8,-%04"3"7)"$(8'(=%"/."0%-,(/./("-%)#'(=."@7("0("./(60." /,.6+("/%0"6%00%0"%'D%09"_(0+."8%$).4"6<%"0($*"/("(0+$.6D.$"@7("0("5($,8,@7(".")(0)."+(6/?6-,." #.$." . " 8$.>)(6+.1<%" /% " -.)#%" /. " .-+,5,/./( " M%$6.'G0+,-. " (4 " -%6-%),+.6+()(6+(4 " /% " #$%/7+%" M%$6.'G0+,-%9"J"#%00G5('",).>,6.$"."@7.6+,/./("/("#7&',-.12(0"(0#(-G8,-.0"@7("0("(6-%6+$."@7.6/%" 0("5,0,+."7)"@7,%0@7(r"!0"+,$.>(60"/(-$(0-(6+(0"/%0"M%$6.,0t$(5,0+.0"/(",68%$).1<%">(6($.',0+.0" (0+<%".G"#.$."-%68,$).$"(0+("8.-+%9 h)"#.$.'('%4"."5('%-,/./("5($+,>,6%0."."@7("0("07-(/($.)"%0".5.61%0"-,(6+G8,-%0"("+(-6%'C>,-%0" .%"'%6>%"/%"03-7'%"ww".>7/,;%7"."7$>?6-,."/("(65($(/.$"#('."8$.>)(6+.1<%"/%0"0.&($(04"/(" 8%$)."@7("#%00.)"0($"/,876/,/%0"-%)").,%$"(8,-*-,."("#$%#$,(/./("."7)"#I&',-%"@7("0("@7($" .'.$>./%"Ta(x(04"YZZeU9"J"6%".&,0)%"-.5./%"(6+$(".">(6($.',/./("/."0%-,(/./("("."-,?6-,."@7(" %0")(,%0"/("-%)76,-.1<%"#%/()"(6-%6+$.$"(0#.1%"#.$."(=($-($()"."8761<%"@7("(0+*"6."07." >36(0(4",0+%"34"#.$."0("-%'%-.$()"-%)%"."#'.+.8%$)."@7("#($),+("."-%)76,-.1<%"(6+$("%0" /,5($0%0"-%)#.$+,)(6+%0"/."0%-,(/./("-%)#'(=.9"V.,0".,6/."0("-%'%-."(0+("/(0.8,%"@7.6/%".0" +(-6%'%>,.0"/("-%)76,-.1<%".5.61.)"."$,+)%0"5($+,>,6%0%0"#.$."8.-,',+.$()"(".+3",)#%$()"7)" )%/('%"/("-%)76,-.1<%"()"$(/(4"B"$(5(',."/%0")%/('%0"D,($.$@7,;./%04").00,8,-./%0"("76G5%-%0" +$./,-,%6.,09 L"#%6+%"/("(@7,'G&$,%"#.$(-("/,8G-,'"/(".'-.61.$"#.$."%0"/(0.8,./%0")(,%0"/("-%)76,-.1<%"(0-$,+." ()"#.#('4".%0"@7.,0"%",)(/,.+,0)%"/."/,870<%"/.",68%$).1<%"(0#(-,.',;./."-%'%-."()"-D(@7("#%$" .8$%6+.$"("/(&('.$"%"0(7".&,0)%"+()#%$.'"("."76,5%-,/./(9"L0"-.),6D%0"/."(0#(-,.',;.1<%"("/." .6*',0(4"/."(=#',-.1<%"("/%".#$%876/.)(6+%"/.0"+()*+,-.0"#.00.)"."(0+.$"/,.6+("/%0")(,%0"/(" -%)76,-.1<%"()"#.#('"-%)%"7)")%/('%"/("/,8($(6-,.1<%"("/("5.'%$,;.1<%"8.-(".%",)(/,.+,0)%" /(")(,%0"('(-+$C6,-%04"#%$"(=()#'%9"S)."/.0"5,.0"@7("(0+."(0#(-,.',;.1<%"+()"+%)./%"/(6+$%"/%0" )(,%0 " /( " -%)76,-.1<% " /( " ).00. " 3 " #$(-,0.)(6+( " . " (0#(-,.',;.1<% " /. " ,68%$).1<% " ()" /(+($),6./%0"/%)G6,%09 a(+()%E6%0"6%"-%6-(,+%"@7.6/%".#',-./%"6%7+$%0"#.G0(09"K%0"h0+./%0"S6,/%04"%"8,6.'"/%0".6%0" PQRZ"3"+,/%"-%)%"7)").$-%"#.$."%"/,0#.$%"/%"-$(0-,)(6+%"/."#$(0(61."/%".)&,(6+("6.0"6%+G-,.04" () " 6%+G-,.0 " -%'%-./.0 " () " 0(-12(0 " #$C#$,.09 " h) " PQRR4 " . " $(5,0+. "R%7*" (0+.&('(-(7 " 7)" -%)#$%),00%"/(".7)(6+.$"."-%&($+7$."/("+().0".)&,(6+.,0"("8?E'%".%"6%)(.$"."^($$."-%)%" A'.6(+. " /%"!6% " TO$,(/).64 " PQQlU9 " a(5,0+.0 " @7( " 07$>,.) " (" (0+.12(0" /(" +('(5,0<% " #%$ " -.&%" .676-,.5.)"()"PQQZ"@7("/(/,-.5.)".>%$.").,%$".+(61<%".%0".0076+%0".)&,(6+.,0"/%"@7(" !#
  • 21. D.5,.)"8(,+%"6%0".6%0".6+($,%$(09 !#(0.$ " /( " 7) " .&$.6/.)(6+% " /% " -$(0-,)(6+% " ,6,-,.' " $(>,0+./% " 6% " @7( " 0( " -D.). " M%$6.',0)%" .)&,(6+.'4"6%0"hS!4"%"8.-+%"3"@7("%".)&,(6+("#.00%7"."8.;($"#.$+("/."$%+,6."/.0"$(/.-12(04"+.'" -%)%"3"$(8($,/%"#%$"7)"(0+7/%"'(5./%"."-.&%"()"PQQe4"()"@7("li"#%$"-(6+%"/%0"gPY"@7./$%0"/(" M%$6.,0"(6+$(5,0+./%0"#.$."."6'>/,-3%'/+'@+N7*)%&-/+('77>/%&-3%'/5"$(8($,$.)"@7("."%$>.6,;.1<%" @7( " ,6+(>$.5.) " #$(0+.5. " ).,%$" -%&($+7$. " B0" @7(0+2(0 " .)&,(6+.,0" /% " @7( " .6+(0 "T:%-,(+x " %8" h65,$%6)(6+.'"b%7$6.',0+04"YZZiU9"L0"M%$6.,04"0%&$(+7/%"%0").,%$(04"#.00.$.)"."5%+.$"#('%")(6%0" 7)"$(#C$+($"B0"@7(0+2(0"/%".)&,(6+("("Yi"#%$"-(6+%"/.0"+('(5,02(0"$(>,%6.,0"0(>7,$.)"%")(0)%" -.),6D%9" !"@7.6+,/./("/("/(/,-.1<%"+(5("+.)&3)"%".-%)#.6D.)(6+%"/."@7.',/./("("PQQY"8%,"%".6%"/(" .+$,&7,1<%"/%"#$3),%"A7',+;($"."+$.&.'D%"0%&$("7)."+()*+,-."$('.-,%6./."-%)"%".)&,(6+(4"#.$."%" M%$6.' "=-&)-7*/3' + S**9 " L7+$%0 " #$3),%0 " /( " #$(0+G>,% " 8%$.) " 0(6/% " (6+$(>7(0 " . " +$.&.'D%0" M%$6.'G0+,-%0"0%&$("."+()*+,-.".)&,(6+.'"TO$,(/).64"PQQlU9 L"$(-%6D(-,)(6+%"(6@7.6+%"*$(."(0#(-G8,-."/%"M%$6.',0)%4"-%)".7+%6%),."("(0#(-,.',;.1<%4" #.00%7".,6/.4"-%)%"6<%"#%/($,."/(,=.$"/(".-%6+(-($4"#('."8%$).1<%"/%0"M%$6.',0+.0"/(".)&,(6+(9" K%0"h0+./%0"S6,/%04"%0"#$,)(,$%0"-7$0%0"/("M%$6.',0)%".)&,(6+.'"+($<%".$$.6-./%".,6/."6." /3-./."/("PQ[Z9"K%"(6+.6+%4"."%8($+."-%6+,67%7"."0($"/,),67+.9"h"%"-(6*$,%").6+(5(E0("-%)"." ,6+($',>.1<%"5($,8,-./."(6+$("%"M%$6.',0)%"/(".)&,(6+("("."(0-$,+."/("-,?6-,.9"h)"5*$,%0"-7$0%04" (0+.5.)",6+(>$./%0".)&%0"%0"#$%>$.).09 !#(0.$ " /(0+. " ',>.1<% " 7)&,',-.'4 " % " /(0.8,% " -%'%-./% " #('. " -%&($+7$. " -$(0-(6+( " /( " .0076+%0" -%)#'(=%0"/."*$(."/%".)&,(6+("'(5%7"."@7("%0"$(#C$+($(0"#$%-7$.00()"8%$).1<%",6,-,.'"6."*$(."(" .,6/."8%$).1<%"#($).6(6+(9 !"#$%-7$."/(0+(0"-7$0%04"@7("-$(0-,.)"6%0"&-7A%"76,5($0,+*$,%04"6<%"($."(=-'70,5."/%0"(0+7/.6+(0" /("M%$6.',0)%"(",6+($(00.5."+.)&3)".%0".'76%0"#$%5(6,(6+(0"/."*$(."/.0"-,?6-,.09 K%0"h0+./%0"S6,/%0"(=,0+()").,0"/("5,6+("-7$0%0"07#($,%$(0"@7("/(/,-.)"#('%")(6%0"7)."#.$+(" B"-%)76,-.1<%"6."*$(."/%".)&,(6+(4"%7"#%007()"#7&',-.12(0"#($,C/,-.0".%".0076+%9"h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hS!4"5($,8,-.E0("@7(4"()"-%60%66-,."-%)"%",6-$()(6+%" /%"M%$6.',0)%".)&,(6+.'"5($,8,-./%"(6+$("%0".6%0"/("PQRR"("PQQZ4"07$>,7"()"PQRQ"."M*"$(8($,/." ='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535" T:hbU9"L"%$>.6,0)%4".>%$.",6+($6.-,%6.'4"$(07'+%7"/("7)" >$7#%"/("M%$6.',0+.0">.'.$/%./%04"8%$)./%"#%$"$(#C$+($(04"(/,+%$(0"("#$%/7+%$(04"%$,76/%0"/%+R0*+ !0%$-,*$A0%-+P/T>%)*)F"/% "2=N+R',-?4"/% "R>)/*)+S)'-,&-53%/;F"/. ".%//*5'3-+!>#$%&+U-,%'" ("/%" !$
  • 22. 4-3%'/-$+V*';)-A0%&9 !#C0"7)"#$%-(00%"/("-$(0-,)(6+%4".":hb"$%6/.5."%0"PPZZ".00%-,./%04"()"PQQ[9"!-+7.')(6+(4"/(" .-%$/%"-%)"%0"/./%0".5.61./%0"6."#*>,6."%8,-,.'"/%":hb"6."W6+($6(+"T:%-,(+x"%8"h65,$%6)(6+.'" b%7$6.',0+04"YZZiU"$%6/.$*"%0"PlZZ".00%-,./%04"(6+$("M%$6.',0+.0"(".-./3),-%04"#($+(6-(6+(0".%0" ).,0"5.$,./%0"C$><%0"/("-%)76,-.1<%"0,+7./%0"6%0"h0+./%0"S6,/%0"("%7+$%0"eY"#.G0(09 J"7)."%$>.6,;.1<%"0()"8,60"'7-$.+,5%0"@7("8%$6(-("%#%$+76,/./(0"/("8%$).1<%"(".#%,%".%0" M%$6.',0+.0"/("+%/%0"%0")(,%0"/("-%)76,-.1<%"@7("0("/(/,-.)"B"-%&($+7$."/("+().0".)&,(6+.,09"!" 8,6.',/./("."@7("0("5%+."3"0,6+(+,;./."6."/(-'.$.1<%"/("),00<%"/.":hbN WR0*+7%55%'/+'@+30*+='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535+%5+3'+-,:-/&*+A>#$%&+>/,*)53-/,%/;+'@ + */:%)'/7*/3-$+%55>*5+#?+%7A)':%/;+30*+T>-$%3?<+-&&>)-&?<+-/,+:%5%#%$%3?+'/+*/:%)'/7*/3-$ + )*A')3%/;FX+Y='&%*3?+'@+J/:%)'/7*/3-$+M'>)/-$%535<+IZZ[+ !"876/.1<%"/.":hb"#$%-7$%7"#$,).$"#('.",6/(#(6/?6-,."(4"#.$."+.'4"/(,=%7"/("8%$."@7.,0@7($" .#%,%0 " %7 " #.+$%-G6,%0 " #$%5(6,(6+(0 " /( " (6+,/./(0 " #I&',-.0 " %7 " #$,5./.0 " @7( " 6<% " 8%00()" (0+$,+.)(6+("/("6.+7$(;."M%$6.'G0+,-.9"!"#$,%$,/./("/.":hb"#.00.5."#%$4"/(0/(",6G-,%4").6+($"%"@7(" (6+(6/,.)"0($"7).").$-."/(",6/(#(6/?6-,."$('.+,5.)(6+("."#%/($(0",6/(0(M./%0"("#%$"#$(5(6,$" (5(6+7.,0 " (0#.1%0 " #.$. " +(6+.+,5.0 " /( " /%),6.1<% " %7 " #.$. " (=($-G-,% " /( " #$(00<% " ,'(>G+,).9 "!" /().$-.1<%"/(">$7#%0".)&,(6+.',0+.0"%7"/.0",6/I0+$,.0"/%".)&,(6+("8%,"7)."/.0"#$($$%>.+,5.0" ,6,-,.,09 K.0"#.'.5$.0"/%".-./3),-%"b%D6"!9"A.'(64"."876/.1<%"("%"/(0(65%'5,)(6+%",6,-,.'"/.":hb"0,+7.E0(" 6.",6+($0(-1<%"/("/7.0"*$(.0"/(",65(0+,>.1<%".-./3),-.N"PU"%"/(0#%6+.$"/%"M%$6.',0)%".)&,(6+.'" (6@7.6+%"-.)#%"(0#(-G8,-%"("YU"%"/(0(65%'5,)(6+%"/%"-%6-(,+%"/("%&M(-+,5,/./("/%"M%$6.',0)%" .)($,-.6%"TA.'(64"PQQRU9 ! " 8%$1. " @7( " % " .)&,(6+.',0)% " 8%, " >.6D.6/%4 " (6@7.6+% " #$%&'(). " 0%-,.' " ( " #%'G+,-%4 " 8(;E0(" .-%)#.6D.$"#('%"-%$$(0#%6/(6+("/(0#($+.$"/%"M%$6.',0)%".)&,(6+.'9"!"(0#(-,.',;.1<%">$./7.'"/%0" M%$6.',0+.0"6."+()*+,-.".)&,(6+.'"'(5.6+%74"6%0"h0+./%0"S6,/%04".0"@7(0+2(0"/(",6/(#(6/?6-,." /%0"$(#C$+($(0"("/.0"#$(002(0"."@7("8,-.)").,0"57'6($*5(,04".%0",6+($(00(0"/.0"8%6+(04"B"6<%" /,5($0,8,-.1<%"/.0"8%6+(0"/(",68%$).1<%4"(6+$("%7+$.0"-.$.-+($G0+,-.09"L0"#$,)(,$%0"M%$6.',0+.0"/(" .)&,(6+("(68$(6+.$.)".,6/."."-%6-(#1<%"/("0("+$.+.$"/("7)"+,#%"/("M%$6.',0)%"),',+.6+("%7" ,/(%'%>,-.)(6+("-%)#$%)(+,/%"T,/()4",&,/()U9 !" h7$%#. " +.)&3) " (65($(/%7 " #('.0 " 5,.0 " /( " (0#(-,.',;.1<% " M%$6.'G0+,-.4 " 6%)(./.)(6+(4 " 6." 5($+(6+(".)&,(6+.'9"h)"h0#.6D.4"6%",6G-,%"/."/3-./."/("PQRZ4"."O.-7'/./("/("X,?6-,.0"/." W68%$).1<%4"/."S6,5($0,/./("/(":(5,'D.4"+%)%7"%"$7)%"/."(0#(-,.',;.1<%".%",6+(>$.$"6%"0(7"#'.6%" /("(0+7/%0"7)."-./(,$."/(6%),6./."W68%$).1<%"b%$6.'G0+,-."h0#(-,.',;./.4"/."@7.'"/($,5.5.)4" ()"0,0+()."/("%#1<%4".0"07&E*$(.0"/("b%$6.',0)%"X7'+7$.'4"b%$6.',0)%"_(0#%$+,5%4"b%$6.',0)%" :%-,.'4 " b%$6.',0)% " A%'G+,-%4 " 0() " @7( " 6(6D7). " /.0 " (=,0+(6+(0 " 8%00( " /(/,-./. " .%0 " .0076+%0" .)&,(6+.,09"XD(>%7"."(0+.$"#$(5,0+."."-./(,$."/("b%$6.',0)%"X,(6+G8,-%"("!)&,(6+.'4").0"(0+." I'+,).".-.&%7"#%$"-.,$"#%$"+($$.4"#%$"(6+(6/($E0("(0+.$",6+(>$./."M*"6%"-%6-(,+%"/("o-,(6+G8,-%p9" !%