26/08/2025
©º¢ 8j´jçЩjº ¹jºÐ ´ÌjØ©º¢ ©äÌЩØçĘ ©º ©º¢ Ûº©Øç ©º ©ÌºÐ bÄ ôØÜ ä W ÄÜ ?ƄÜ ÜäéÄä ܪØÜ ÕÕØ ä ÊÄ ¤ÊØ Ãé½ä é½ä騽 éÕØ Ä¥ Ä¥ äªä ܪÕÜ ªØ Ää äûŪ
©Ø¿Ì©j´ TĚ ŕŘīŜŜŝř śśŝŝ #Ě ŕŘīŜŜŝŚ ŗśŗŚ Ě ´©ÐØç´ŃبÐÛº j©´çě¿¹ äÌØ©Ð©º¢ TĚ ŕŘīŜŜŝř ŝŝŝŝ Ě j äÌØ©ÐŃØ¨ÐÛº j©´çě¿¹
͓͗ ˜ ͓͓͖͑
SCAN ME
˻ ͓͗ ˜ ͓͓͖͑
RM1
WEEKLY FOCUS MONDAY ÏÍÒØÙÖÙÑã ËØÎ ÝÙÍÓËÖ ×ÏÎÓË
TUESDAY Ë×ÓÖã ËØÎ ÚËÜÏØÞÓØÑ
WEDNESDAY ËÝÒÓÙØ ËØÎ ÌÏËßÞã
THURSDAY Ù×Ï ËØÎ ÖÓàÓØÑ
Emotional struggle Depressive symptoms in teenagers – P22
FRIDAY ÜËàÏÖ ËØÎ ÖÏÓÝßÜÏ
SATURDAY ÙÙÎ ËØÎ ÌÏàÏÜËÑÏ
Malaysian Paper õõõŪäªÜéÄŪÃû S?ĝŪĜĜ P S EPt
3FQPSU PO T QBHF
SCAN ME 9¿ě ŝŝŞř HH ŗśřřħŖŗħŗŕŖŗ ljŕŘŖŖŞŚij
p 23 ÙÚ Ï×ÙØ ߨÞÏÜ ÍÒËÖÖÏØÑÏÝ ØÙÜ×Ý
p 25
INSIDE
ÏÓ ÓÜÎ ÝÏÞ ÞÙ ÏØÞÏÜÞËÓØ ÐËØÝ ÓØ ËÖËãÝÓË
PØÊÕÊܽ ¤ÊØ Ää ÊĽ ª ½ź¤Ø Ľû ÕÊØä½ äÊ ØÕÊØä é½½û Ä¥ ØõÜ Ã ú ôÊ Ü ¤ØÊà ª ½ØÄť õ äª ÕØ ôûť äØéÜä Ä ¤¤ä ôÄÜÜ Ä¥ ÃÄ ÊÄØÄÜŪ 8©º¿ÌÐ ÐÉj² ÛÉ 3FQPSU PO T QBHF $IJMESFO T WPJDFT QPJOU UP B DMFBS NFTTBHF VOMFTT UIF QSPQPTFE QPSUBM DBO QSPWF JU JT TFDVSF DPOGJEFOUJBM BOE CBDLFE CZ HFOVJOF TVQQPSU JU SJTLT CFJOH KVTU B XFMM NFBOJOH JEFB UIBU TUVEFOUT BSF UPP BGSBJE UP VTF o "* *."(& #: ";63" "#"4
H8Ě ¿ºĞØ ØÛ̺
äéº WØ ÄõØ +ت à ÜûÜ ½½ Ä ä ä ôÜ j´´¿jØ©¿ºÐ ©ºØ¿ É¿´¹©Ð 䴿ɹºØ
éÄØ ĝğ?P äÊ ÃÕ½ÃÄä ¤ ؽû Ä Ü ÊÄ ÄŪ
3FQPSU PO T QBHF
ƃ9äÜä ôÄä Ä äÜ ÊÄä ÄÄä½ ØéÜä Ääª PÄ ÄÜ齨 ?½ûÜ Üä ½½ ªÊ½Ü ääÊÄ ÜäØÜÜ äªä Ä Ø½Ü õ äªÊéä õØÄÄ¥ŪƄ jº©ºØ jÛ´Ø ´©ºÐĚ æÉÌØ O¢j¹jØ ËÛj² Щ¢ºj´Ð ÌjØ©äjØ©¿º ¿
3FQPSU PO T QBHF
˻ ͓͗ ˜ ͓͓͖͑
ħبÐۺش¢Ìj¹ #>33>a >9 T 3 $K 8 ¹ K 8 ħ Malaysian Paper
ºåjÌĚ ŖŘ8H j´´¿jØ©¿ºÐ jÐ ¿º º ÐĘ º¿Ø Ìj
#©Ðj´ ©©Ø Ì ÛØ©¿º ²ç Ø¿ ¹jºj¢©º¢ ØĚ H8 ,6"-" -6.163 5IF DPVOUSZ T OFX EFCU IBT HSBEVBMMZ EFDMJOFE EFTQJUF DPOUJOVJOH QPMFNJDT PO UIF OBUJPOBM EFCU QPTJUJPO 1SJNF .JOJTUFS %BUVL 4FSJ "OXBS *CSBIJN UPME UIF %FXBO /FHBSB ZFTUFSEBZ "OXBS TUSFTTFE UIBU SFEVDJOH UIF GJTDBM EFGJDJU JT DSVDJBM BT PWFSBMM EFCU XJMM DPOUJOVF UP SJTF GPS BT MPOH BT UIF EFGJDJU SFNBJOT i5IF GJTDBM EFGJDJU JOEFFE QPTFT B DIBMMFOHF 5IF GJSTU .BEBOJ HPWFSONFOU JT USZJOH UP SFEVDF UIF GJTDBM EFGJDJU BOE OFX EFCU FWFO UIPVHI JU SFNBJOT B OFWFS FOEJOH QPMJUJDBM QPMFNJD 8IZ EP XF OFFE UP SFEVDF UIF EFGJDJU *G XF EPO U UIF EFCU XJMM CBMMPPO i8F CSPVHIU JU EPXO GSPN PG HSPTT EPNFTUJD QSPEVDU UP JO GPMMPXFE CZ BOE OPX XF BSF QSPKFDUJOH GPS UIJT ZFBS BOE B DPOUJOVFE SFEVDUJPO UIF GPMMPXJOH ZFBSw IF TBJE XIFO UBCMJOH UIF UI .BMBZTJB 1MBO )F FYQMBJOFE UIBU UIF JODSFBTF JO PWFSBMM EFCU XBT EVF UP UIF JOUFSFTU CVSEFO GSPN MFHBDZ EFCUT OPU GSPN OFX CPSSPXJOHT BEEJOH UIBU SFDPSET DMFBSMZ TIPX OFX EFCU IBT EFDSFBTFE )F BEEFE UIBU UIF HPWFSONFOU SFNBJOT DPNNJUUFE UP HSBEVBMMZ SFEVDJOH UIF GJTDBM EFGJDJU XJUI B UBSHFU PG SFBDIJOH PG HSPTT EPNFTUJD QSPEVDU (%1 XJUIJO UIF OFYU GJWF ZFBST BOE MPXFSJOH UIF EFCU MFWFM UP OP NPSF UIBO PG (%1 o #FSOBNB $©¢ a¿Ì²ÌÐ ©´´ Øj´ ©º HjÌ´©j¹ºØ 1&5"-*/( +":" .PSF UIBO NJMMJPO .BMBZTJBOT TUBOE UP HBJO TUSPOHFS MFHBM QSPUFDUJPO BGUFS UIF HPWFSONFOU UBCMFE UIF (JH 8PSLFST #JMM JO 1BSMJBNFOU ZFTUFSEBZ B NPWF )VNBO 3FTPVSDFT .JOJTUFS 4UFWFO 4JN IBJMFE BT B iIJTUPSJD TUFQw GPS UIF DPVOUSZ T HSPXJOH QMBUGPSN FDPOPNZ 4JN TBJE UIF ESBGU MBX XBT UIF SFTVMU PG NPOUIT PG FOHBHFNFOU XJUI UIPVTBOET PG TUBLFIPMEFST UISPVHI DPOTVMUBUJPO TFTTJPOT BMPOH XJUI NPSF UIBO POMJOF TVCNJTTJPOT SFDFJWFE PWFS UIF QBTU ZFBS i5IJT JT OPU B #JMM ESBGUFE PVU PG UIJO BJS PS NFSF JNBHJOBUJPO *U IBT CFFO DBSFGVMMZ EFTJHOFE BGUFS SFDFJWJOH GFFECBDL GSPN BMM QBSUJFTw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i* BQQFBM UP BMM .1T CPUI HPWFSONFOU BOE PQQPTJUJPO UP DPNF UPHFUIFS BOE QBTT UIJT #JMM TP UIBU PVS HJH XPSLFST XJMM OP MPOHFS IBWF UP TUSVHHMF BMPOF UP CVJME UIF OBUJPO T FDPOPNZw IF BEEFE 5IF NJOJTUFS TBJE UIBU CFZPOE UIF NJMMJPO HJH XPSLFST UIF MBX XPVME JOEJSFDUMZ CFOFGJU BO FTUJNBUFE GJWF UP TJY NJMMJPO GBNJMZ NFNCFST )F BMTP QBJE USJCVUF UP F IBJMJOH BOE Q IBJMJOH ESJWFST DIJMEDBSF QSPWJEFST BOE PUIFS QMBUGPSN XPSLFST OPUJOH UIBU UIFZ iXPSLFE UJSFMFTTMZ UP QSPWJEF FTTFOUJBM TFSWJDFTw Ű OFXTEFTL!UIFTVOEBJMZ DPN
3. 8F IPQF QSJWBUF DPNQBOJFT FTQFDJBMMZ QSPGJUBCMF POFT GPMMPX UIJT FYBNQMFu IF BEEFE )F TBJE FEVDBUJPO GSPN QSFTDIPPM UP TFDPOEBSZ MFWFM XJMM DPOUJOVF UP CF TUSFOHUIFOFE QBSUJDVMBSMZ JO 4DJFODF 5FDIOPMPHZ &OHJOFFSJOH BOE .BUIFNBUJDT BOE EJHJUBM MJUFSBDZ UP FOTVSF OP DIJME JT MFGU CFIJOE 5IF HPWFSONFOU IBT BMTP MBVODIFE UIF 4FKBUJ .BEBOJ QSPHSBNNF XIJDI BMMPXT MPDBM DPNNVOJUJFT UP EFDJEF PO EFWFMPQNFOU QSPKFDUT TVDI BT FRVJQNFOU QVSDIBTFT MJWFTUPDL SFBSJOH PS PUIFS JOJUJBUJWFT )FSJUBHF QSFTFSWBUJPO XJMM SFNBJO B QSJPSJUZ VOEFS UIF .1 UP BMJHOFE XJUI UIF UIFNF PG i3FTIBQJOH .BEBOJ T %FWFMPQNFOU BOE &DPOPNZu 'MBHTIJQ QSPKFDUT JODMVEF SFTUPSJOH UIF 4VMUBO "CEVM 4BNBE #VJMEJOH .FSEFLB 4RVBSF BOE UIF ,VBMB -VNQVS 3BJMXBZ 4UBUJPO TVQQPSUFE CZ 3. CJMMJPO BMMPDBUFE UISPVHI ,IB[BOBI i4VDI QSPKFDUT OPU POMZ QSFTFSWF OBUJPOBM MBOENBSLT CVU BMTP SFTUPSF UIF USVF NFBOJOH PG PVS IFSJUBHF u "OXBS TBJE )F EFTDSJCFE UIF .1 BT B DPNQSFIFOTJWF GSBNFXPSL UP ESJWF QSPTQFSJUZ TUSFOHUIFO OBUJPOBM VOJUZ BOE FOIBODF RVBMJUZ PG MJGF *O VSHJOH TFOBUPST UP FOEPSTF UIF QMBO GPS UIF QFSJPE "OXBS TBJE JU GPDVTFT PO TUSBUFHJFT UP iSBJTF UIF DFJMJOHu CZ FYQBOEJOH HSPXUI BOE iSBJTF UIF GMPPSu CZ VQMJGUJOH XFMM CFJOH
DPOUSJCVUJPO BOE CBTJD DPOUSJCVUJPO BMPOH XJUI 3. CJMMJPO JO IPVTJOH BJE "OXBS PVUMJOFE OJOF JOJUJBUJWFT VOEFS UIF .1 TPDJBM FNQPXFSNFOU CBTFE PO UIF .BEBOJ DPODFQU BEESFTTJOH DPTU PG MJWJOH FRVJUBCMF FDPOPNJD EJTUSJCVUJPO FEVDBUJPO SFDPWFSZ BGGPSEBCMF IPVTJOH SFHJPOBM BOE SVSBM EFWFMPQNFOU TUSFOHUIFOJOH IJHI HSPXUI JOEVTUSJFT BEPQUJOH BSUJGJDJBM JOUFMMJHFODF "* BOE JNQSPWJOH HPWFSONFOU TFSWJDF EFMJWFSZ )F TUSFTTFE UIBU UIF .1 NVTU OPU SFNBJO B QMBOOJOH EPDVNFOU CVU BO BDUJPOBCMF QMBO NPOJUPSFE UP FOTVSF FWFSZ QSPKFDU EFMJWFST UBOHJCMF SFTVMUT #FSOBNB SFQPSUFE "T BO FYBNQMF IF QPJOUFE UP UIF VQHSBEJOH PG EJMBQJEBUFE TDIPPMT BT PG +VOF m UIF IJHIFTU BDIJFWFNFOU XJUIJO B TIPSU QFSJPE m BMPOHTJEF B TIBSQ SJTF JO OFX TDIPPM DPOTUSVDUJPO XJUI TDIPPMT CVJMU PWFS UIF QBTU UXP UP UISFF ZFBST DPNQBSFE XJUI BO FBSMJFS BWFSBHF PG UP 5IF .1 DPOUJOVFT UIF UI .BMBZTJB 1MBO BOE UIF .BEBOJ &DPOPNJD 'SBNFXPSL XJUI FNQIBTJT PO FBTJOH DPTU PG MJWJOH QSFTTVSFT 5IF HPWFSONFOU T NPWF UP SBJTF UIF NJOJNVN XBHF GSPN 3. UP 3. BOE OPX 3. DPVQMFE XJUI QSPHSFTTJWF XBHFT GPS QSJWBUF FNQMPZFFT BOE UIF 1VCMJD 4FSWJDF 3FNVOFSBUJPO 4DIFNF SFGMFDUFE UIJT QSJPSJUZ i5IFTF NFBTVSFT JOWPMWF 3. CJMMJPO JO FYUSB FYQFOEJUVSF UIJT ZFBS BOE 3. CJMMJPO OFYU ZFBS 'PS UIF GJSTU UJNF HPWFSONFOU MJOLFE DPNQBOJFT IBWF TFU B NJOJNVN XBHF PG
,6"-" -6.163 1SJNF .JOJTUFS %BUVL 4FSJ "OXBS *CSBIJN ZFTUFSEBZ DBVUJPOFE BHBJOTU UVSOJOH EFWFMPQNFOU BMMPDBUJPOT JOUP QPMFNJDT TUSFTTJOH UIBU BMM JOJUJBUJWFT VOEFS UIF UI .BMBZTJB 1MBO .1 BSF JNQMFNFOUFE GBJSMZ BOE CBTFE PO OFFE 5BCMJOH UIF .1 NPUJPO JO UIF %FXBO /FHBSB "OXBS TBJE UIF .BEBOJ HPWFSONFOU JT DPNNJUUFE UP FOTVSJOH .BMBZT $IJOFTF *OEJBOT #VNJQVUFSB PG 4BCBI BOE 4BSBXBL 0SBOH "TMJ XPNFO 1FSTPOT XJUI EJTBCJMJUJFT BOE ZPVUIT BMM CFOFGJU FRVJUBCMZ i* BN WFSZ VOIBQQZ XJUI TVDI QPMFNJDT CFDBVTF UIFZ DSFBUF UIF JNQSFTTJPO UIBU .BMBZT BSF DPNGPSUBCMF 5IF TBNF BQQMJFT UP UIF *OEJBO PS $IJOFTF DPNNVOJUJFT "MMPDBUJPOT BSF CBTFE PO OFFET OPU SBDF u IF UPME UIF VQQFS IPVTF )F IJHIMJHIUFE UIF 3BINBI DBTI DPOUSJCVUJPO BOE 3BINBI CBTJD DPOUSJCVUJPO XIJDI BSF EJTUSJCVUFE JODMVTJWFMZ XJUI OFBSMZ PG SFDJQJFOUT CFJOH .BMBZT QFS DFOU 4BCBI #VNJQVUFSB BOE QFS DFOU 4BSBXBL #VNJQVUFSB 5IF *OEJBO DPNNVOJUZ IBT BMTP SFDFJWFE 3. NJMMJPO UISPVHI DBTI ÜÓ×Ï ×ÓØÓÝÞÏÜ ÙßÞÖÓØÏÝ ØÓØÏ ÕÏã ÓØÓÞÓËÞÓàÏÝ ÞÙ ßÚÖÓÐÞ áÏÖÖ̋ ÌÏÓØÑ ËØÎ ÌÙÖÝÞÏÜ ßØÓÞã
ĝ8j´jçЩj å©´´ ºäÌ åjäÌ ©º º ©º¢ Hj´ÐØ©ºĞ
1BSUJDJQBOUT BU UIF FWFOU SFGMFDUJOH VOJUZ JO SFKFDUJOH PQQSFTTJPO BOE EFNBOEJOH KVTUJDF GPS UIF 1BMFTUJOJBO QFPQMF z #&3/"."1*$
,6"-" -6.163 .BMBZTJB IBT OFWFS XBWFSFE JO EFGFOEJOH UIF SJHIUT PG UIF 1BMFTUJOJBO QFPQMF FWFO BT NVDI PG UIF XPSME UVSOT BXBZ EFTQJUF SIFUPSJD PO IVNBO SJHIUT BOE EFNPDSBDZ TBJE 1SJNF .JOJTUFS %BUVL 4FSJ "OXBS *CSBIJN ZFTUFSEBZ )F TUSFTTFE UIBU JO FWFSZ JOUFSOBUJPOBM FOHBHFNFOU XIFUIFS JO 5PLZP #FJKJOH /FX %FMIJ PS &VSPQF IF OFWFS GBJMT UP SBJTF UIF QMJHIU PG UIPTF TVGGFSJOH JO (B[B i'PS EFDBEFT 1BMFTUJOJBO MBOE IBT CFFO TFJ[FE IPNFT EFTUSPZFE TDIPPMT EFNPMJTIFE BOE FWFO NPTRVFT BOE DIVSDIFT IBWF OPU CFFO TQBSFE GSPN ;JPOJTU BHHSFTTJPO 8IBU JT IBQQFOJOH JO (B[B UPEBZ JT OPU NFSFMZ XBS CVU
i8F LOPX UIJT TUSVHHMF DBO TPNFUJNFT GFFM FYIBVTUJOH FWFO IPQFMFTT #VU "MMBI T QSPNJTF JT DMFBS )JT IFMQ JT OFBS 8F NVTU DPOUJOVF UP CFMJFWF BOE NPWF GPSXBSE XJUI DPVSBHF BOE DPOWJDUJPO 3FTU BTTVSFE USVUI BOE KVTUJDF XJMM QSFWBJM w IF BEEFE "OXBS TBJE UIF .BMBN )JNQVOBO EBO 4FMBXBU .BMBZTJBLV #FSTBNB (B[B HBUIFSJOH PO 4VOEBZ OJHIU XIJDI ESFX UIPVTBOET PG QBSUJDJQBOUT SFGMFDUFE .BMBZTJBOT VOJUZ JO SFKFDUJOH PQQSFTTJPO DPOEFNOJOH UIF LJMMJOH PG XPNFO BOE DIJMESFO BOE EFNBOEJOH KVTUJDF MPOH EFOJFE UP UIF 1BMFTUJOJBO QFPQMF XIJMF UIF HMPCBM PSEFS GBJMT UP HVBSBOUFF UIFJS CBTJD SJHIUT o #FSOBNB
UIF IBSTIFTU BOE NPTU JOIVNBOF GPSN PG PDDVQBUJPO i5IJT JT OPU UIF BDU PG IVNBOT JU JT UIF BDU PG BOJNBMT &WFSZUIJOH IBT CFFO UBLFO o MBOE IPNFT GBNJMJFT MJWFTw IF XSPUF JO B 'BDFCPPL QPTU "OXBS SFBGGJSNFE UIBU .BMBZTJB XJMM DPOUJOVF UP TUFQ VQ TVQQPSU GPS (B[B BOE UIF TUSVHHMF GPS 1BMFTUJOJBO MJCFSBUJPO i.BMBZTJB UPHFUIFS XJUI JOUFSOBUJPOBM QBSUOFST DPOUJOVFT UP QSPWJEF BJE GSPN NFEJDBM USFBUNFOU UP FEVDBUJPO PQQPSUVOJUJFT -BTU OJHIU UIF .BEBOJ HPWFSONFOU BOOPVODFE BO BEEJUJPOBM 3. NJMMJPO BMMPDBUJPO GPS UIF 1BMFTUJOJBO QFPQMF
˻ ͓͗ ˜ ͓͓͖͑
¨©´ ̺ åjÌç ¿ É¿ÌØj´ Ø¿ ÌÉ¿ÌØ Û´´ç©º¢ ©º© ºØÐ
º¿ºç¹©ØçĘ jØj ÉÌ¿ØØ©¿º ÌÛ©j´ ¿Ì ¿º´©º ÐÉjĘ æÉÌØ åj̺Р1&5"-*/( +":" 5IF QSPQPTFE BOUJ CVMMZJOH QPSUBM NVTU QVU DIJMESFO T QSJWBDZ BOE TBGFUZ BU UIF GPSFGSPOU PS SJTL FYQPTJOH UIFN UP GVSUIFS IBSN B DZCFS MBX FYQFSU DBVUJPOFE *OUFSOBUJPOBM *TMBNJD 6OJWFSTJUZ .BMBZTJB TDIPMBS %S 4POOZ ;VMIVEB TBJE DIJMESFO DPVME OPU CF FYQFDUFE UP QSPUFDU UIFNTFMWFT POMJOF FTQFDJBMMZ GSPN JOUBOHJCMF IBSNT TVDI BT QSJWBDZ CSFBDIFT i$IJMESFO CZ OBUVSF DBOOPU CF FYQFDUFE UP UBLF DBSF PG UIFNTFMWFT FTQFDJBMMZ BHBJOTU IBSNT UIBU BSF OPU QIZTJDBM PS UBOHJCMF JO OBUVSF 1SJWBDZ UISFBUT BSF UZQJDBMMZ JOUBOHJCMF i-FUUJOH DIJMESFO IBOEMF UIF QSJWBDZ BOE TFDVSJUZ PG UIFJS PXO EBUB JT BMXBZT USJDLZ w 4POOZ TUSFTTFE UIBU UIF SFTQPOTJCJMJUZ NVTU MJF XJUI QBSFOUT UIF HPWFSONFOU BOE JOEVTUSZ QMBZFST i5IFSF JT OP DIPJDF o BMM NVTU CF DIJMESFO PSJFOUFE XIFO QSPWJEJOH POMJOF QPSUBMT PS PUIFS EJHJUBM TPMVUJPOT i5IF TZTUFNT NVTU CF QSJWBDZ TUSJDU BOE DIJMESFO PSJFOUFE CZ EFGBVMU w IF TBJE 8IJMF UIF QPSUBM DPVME HJWF WJDUJNT B OFX DIBOOFM UP TQFBL VQ JUT VTBCJMJUZ XPVME VMUJNBUFMZ EFUFSNJOF JUT TVDDFTT QBSUJDVMBSMZ GPS ZPVOHFS DIJMESFO BOE UIPTF JO SVSBM BSFBT i"OZ TZTUFN JOUFOEFE GPS DIJMESFO NVTU CF CVJMU XJUI QSJWBDZ BOE TFDVSJUZ QSPUFDUJPOT CZ EFTJHO i5IFSF NVTU CF GFBUVSFT XIFUIFS UISPVHI UFYU PS QJDUVSFT UIBU DBO DMFBSMZ DPNNVOJDBUF XIZ UIF TZTUFN JT CFOFGJDJBM i*U TIPVME BMTP FODPVSBHF QBSFOUBM PS BEVMU TVQFSWJTJPO i"CPWF BMM UIF QPSUBM NVTU CF TJNQMF GSJFOEMZ BOE FBTZ GPS DIJMESFO UP VTF w 0O UIF MFHBM GSPOU 4POOZ OPUFE TFWFSBM IVSEMFT )F TBJE BMUIPVHI UIF $IJME "DU UIF OFX 0OMJOF 4BGFUZ "DU BOE UIF 1FSTPOBM %BUB 1SPUFDUJPO "DU 1%1" QSPWJEF VTFGVM GSBNFXPSLT BQQMZJOH UIFN UP B HPWFSONFOU SVO QPSUBM XBT OPU TUSBJHIUGPSXBSE i5IF 1%1" EPFT OPU BQQMZ UP UIF HPWFSONFOU XIJDI DSFBUFT B VOJRVF DIBMMFOHF 4UJMM JUT QSJODJQMFT SFNBJO VTFGVM o DPOTFOU NVTU CF GSFFMZ HJWFO TQFDJGJD JOGPSNFE BOE VOBNCJHVPVT i5IF RVFTUJPO JT $BO NJOPST QSPWJEF TVDI DPOTFOU XIFO UIFZ NBZ OPU GVMMZ VOEFSTUBOE UIF DPOTFRVFODFT w )F QPJOUFE PVU UIBU VTJOH UIF QPSUBM XPVME SFRVJSF DIJMESFO UP BMMPX UIFJS QFSTPOBM EBUB UP CF QSPDFTTFE SBJTJOH EPVCUT BCPVU XIFUIFS UIFJS DPOTFOU DPVME CF WBMJE 5IJT IF TBJE NVTU CF DMBSJGJFE JO UIF QPSUBM T UFSNT PG VTF 4POOZ BMTP ESFX BO JNQPSUBOU EJTUJODUJPO i*G UIF QPSUBM JT PQFSBUFE EJSFDUMZ CZ UIF HPWFSONFOU GPS FYBNQMF CZ B NJOJTUSZ PS JUT EFQBSUNFOUT UIFO UIF 1%1" EPFT OPU BQQMZ #VU JG JU JT SVO CZ BOPUIFS FOUJUZ TVDI BT B DPNQBOZ TUBUVUPSZ CPEZ PS PSHBOJTBUJPO UIFO UIF 1%1" XPVME NPTU MJLFMZ BQQMZ i*O UIBU DBTF DMFBS QSJWBDZ OPUJDFT DPNQSFIFOTJWF EBUB QSPUFDUJPO UFSNT BOE TBGFHVBSET MJLF DPOTFOU EBUB NJOJNJTBUJPO BOE EBUB TFDVSJUZ BSF SFRVJSFE w 5P NJUJHBUF SJTLT 4POOZ QSPQPTFE TBGFHVBSET JODMVEJOH NBOEBUPSZ BEVMU BDDPNQBOJNFOU QSJWBDZ CZ EFTJHO QSJODJQMFT BOE SFHVMBS SJTL BTTFTTNFOUT )F BMTP DBVUJPOFE BHBJOTU NJTVTF UISPVHI GBMTF PS NBMJDJPVT DPNQMBJOUT i5IJT XJMM IBWF UP HP UISPVHI TFWFSBM MBZFST PG FWBMVBUJPO GSPN UIF EBUB HJWFO UIF DPOTJTUFODZ PG UIF OBSSBUJPO BT XFMM BT PUIFS TVQQPSUJOH JOGPSNBUJPO i$IJMESFO T JOGPSNBUJPO XPVME NPTU MJLFMZ OFFE UP CF DPSSPCPSBUFE XJUI BEEJUJPOBM FWJEFODF w o #Z )"3*5) ,"."-
ÜÙÚÙÝËÖ ÐÙÜ ÍÙ×ÚÖËÓØÞÝ ÚÖËÞÐÙÜ× ÝÚËÜÕÝ ÍËßÞÓÙßÝ ÓØÞÏÜÏÝÞ˜ áÓÞÒ ÝÞßÎÏØÞÝ ÍÓÞÓØÑ ÐÏËÜÝ ÙàÏÜ ÚÜÓàËÍ㘠ÞÜßÝÞ ËØÎ ÜÏËÖ ÚÜÙÞÏÍÞÓÙØ
Ű ˜ OFXTEFTL!UIFTVOEBJMZ DPN
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i8IFO * XBT TUJMM JO TDIPPM B MPU PG TUVEFOUT EJEO U EBSF TQFBL VQ 5FBDIFST UPME VT XF DPVME DPNF UP UIFN CVU NBOZ PG NZ GSJFOET GFMU MJLF OPUIJOH XPVME DIBOHF i*G UIFSF IBE CFFO BO PGGJDJBM QMBUGPSN TPNF QFPQMF XPVME IBWF GFMU CSBWFS UP UFMM UIFJS TUPSZ FTQFDJBMMZ JG UIF DPNQMBJOBOU DPVME SFNBJO BOPOZNPVT u /VS )BZGBB TBJE TIF XPVME IBWF DPOTJEFSFE VTJOH TVDI B TZTUFN QSPWJEFE IFS JEFOUJUZ XBT GVMMZ QSPUFDUFE i*U T FBTJFS UP UZQF XIBU ZPV GFFM UIBO UP TJU JO GSPOU PG B UFBDIFS #VU * E TUJMM XPSSZ JG NZ OBNF NJHIU MFBL PS JG UIF CVMMZ XPVME GJOE PVU u 4IF TVHHFTUFE UIBU DPNQMBJOUT CF IBOEMFE CZ OFVUSBM QBSUJFT SBUIFS UIBO TDIPPM EJTDJQMJOBSJBOT i5IFZ VTVBMMZ GPDVT PO QVOJTINFOU BOE TPNFUJNFT UIF CVMMJFT HFU BOHSJFS XIFO UIFZ SF QVOJTIFE i.BZCF TPNFPOF GSPN PVUTJEF UIF TDIPPM TZTUFN m B TPDJBM XPSLFS PS DPVOTFMMPS m XPVME NBLF TUVEFOUT GFFM TPNFPOF JT SFBMMZ MJTUFOJOH u "OPUIFS ZFBS PME CPZ XIP TQPLF PO DPOEJUJPO PG BOPOZNJUZ BHSFFE UIF QPSUBM DPVME UP WJDUJNT QBSFOUT QFFST BOE UFBDIFST XJUI XIJTUMFCMPXFS TUZMF TBGFHVBSET UP TIJFME DIJMESFO GSPN SFUBMJBUJPO 4IF BMTP RVFTUJPOFE IPX UIF QPSUBM XPVME XPSL BMPOHTJEF UIF &EVDBUJPO .JOJTUSZ T FYJTUJOH QVCMJD DPNQMBJOUT NBOBHFNFOU TZTUFN PS 4*41"" i8F OFFE USBOTQBSFODZ PO IPX NBOZ DBTFT IBWF CFFO GJMFE IPX NBOZ XFSF SFTPMWFE BOE XIBU JNQBDU UIF JOUFSWFOUJPOT IBE 0OMZ UIFO DBO XF EFDJEF JG B OFX TZTUFN JT OFDFTTBSZ w 4IF GVSUIFS QSPQPTFE JOEFQFOEFOU EJTDJQMJOBSZ QBOFMT PS TQFDJBM TUBUF FEVDBUJPO VOJUT UP IBOEMF DPNQMBJOUT JNQBSUJBMMZ XIJMF TUSFTTJOH UIF OFFE GPS UFBDIFS USBJOJOH BOE TUSPOHFS BDDPVOUBCJMJUZ i4DIPPMT NVTU OPU CF SFXBSEFE GPS A[FSP CVMMZJOH SFDPSET BT UIJT DPVME GVFM VOEFSSFQPSUJOH 3FDPHOJUJPO TIPVME HP JOTUFBE UP TDIPPMT UIBU GPMMPX QSPQFS QSPDFEVSFT BOE SFTPMWF DBTFT FGGFDUJWFMZ w 8BO "[MJBOB BMTP QVTIFE GPS BO "OUJ #VMMZJOH "DU UP DMFBSMZ EFGJOF CVMMZJOH PVUMJOF QVOJTINFOUT BOE NBOEBUF QSFWFOUJWF NFBTVSFT 4IF DJUFE UIF "INBE *LIXBO DBTF JO XIJDI UIF 'FEFSBM $PVSU IFME UIBU TDIPPMT BOE UIF HPWFSONFOU DBO CF MJBCMF JG UIFZ GBJM UP QSFWFOU CVMMZJOH i"HBJOTU UIJT CBDLESPQ UIF QSJNF NJOJTUFS T QSPQPTBM UP CSJOH BO "OUJ #VMMZJOH "DU UP $BCJOFU JT B NBKPS TUFQ GPSXBSE 8JUI DMFBS EFGJOJUJPOT
1&5"-*/( +":" 5IF QMBO GPS B DIJME GSJFOEMZ DPNQMBJOUT QPSUBM JT ESBXJOH QSBJTF CVU BMTP TDSVUJOZ XJUI FYQFSUT XBSOJOH UIBU UFDIOPMPHZ BMPOF XJMM OPU TUPQ BCVTF VOMFTT TDIPPMT BDU XJUI USVTU BOE BDDPVOUBCJMJUZ (FSBLBO (VCBM "LUB "OUJ #VMJ ("# DIBJSNBO %S 8BO "[MJBOB 8BO "EOBO TBJE UIF TZTUFN T TVDDFTT EFQFOET PO XIFUIFS TUVEFOUT GFFM TBGF BOE DPOGJEFOU UIBU UIFJS DPNQMBJOUT XJMM CF UBLFO TFSJPVTMZ i.PTU CVMMZJOH IBQQFOT JO TDIPPMT TP TUVEFOUT NVTU GFFM TFDVSF UP SFQPSU JU JNNFEJBUFMZ 4DIPPMT IBWF B SFTQPOTJCJMJUZ UP QSPUFDU UIFJS TUVEFOUT BOE UP SFTQPOE QSPNQUMZ BOE FGGFDUJWFMZ w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i* XPVMEO U GFFM DPNGPSUBCMF HPJOH POMJOF UP UFMM NZ TUPSZ VOMFTT UIF JODJEFOU XBT SFBMMZ TFWFSF i*G JU T TPNFUIJOH QFSTPOBM PS FNCBSSBTTJOH * E CF XPSSJFE JU DPVME BGGFDU NZ GVUVSF u IF UPME UIF4VO "MUIPVHI UIF QSPQPTFE QPSUBM QSPNJTFT BOPOZNJUZ &JONBM TBJE NPTU DIJMESFO XPVME TUJMM QSFGFS QBSFOUT PS UFBDIFST PWFS TUSBOHFST CFIJOE B TDSFFO i5IFZ BSF QFPQMF ZPV LOPX QFSTPOBMMZ BOE USVTU 8JUI B QPSUBM ZPV SF KVTU TIBSJOH XJUI TUSBOHFST BOE UIFSF T BMXBZT UIF GFBS UIBU JOGPSNBUJPO DPVME MFBL PVU u )JT TDFQUJDJTN SFGMFDUT XJEFS BOYJFUJFT BCPVU EJHJUBM TFDVSJUZ i* GFFM UIBU BOZ JOGP PS EBUB TIBSFE POMJOF JT OPU TFDVSF 8F IFBS PG EBUB GSBVE BOE TUPMFO EFUBJMT BMM UIF UJNFu IF TBJE BEEJOH UIBU CVMMJFT PS DMBTTNBUFT NJHIU EJTDPWFS B DPNQMBJOU JG TZTUFNT GBJM "TLFE XIBU LJOE PG BDUJPO IF XPVME XBOU &JONBM XBT CMVOU i5IF CVMMZ TIPVME CF NPWFE UP BOPUIFS TDIPPM BXBZ GSPN NF "OE OP POF TIPVME LOPX JU XBT NF XIP SFQPSUFE i.PTU PG VT XPVME QSFGFS UBMLJOH UP B UFBDIFS PS PVS QBSFOUTu IF TBJE TUSFTTJOH UIBU GBDF UP
IFMQ CVU TBJE GFBST PG FYQPTVSF BOE SFUBMJBUJPO BSF B NBKPS DPODFSO i5IFZ BMXBZT TBZ JU T QSJWBUF CVU IPX EP XF LOPX *G UIF CVMMZ GJOET PVU UIBU T UIF TDBSZ QBSU u )F BEEFE UIBU IF XPVME QSFGFS B DPVOTFMMPS PS TPNFPOF USBJOFE UP XPSL XJUI DIJMESFO i/PU KVTU B UFBDIFS XIP TBZT AEPO U GJHIU BOE UIBU T JU i* XBOU TPNFPOF XIP XJMM UBLF NF TFSJPVTMZ BOE NBLF HPJOH UP TDIPPM GFFM TBGF BHBJO u QSFWFOUJWF NFBTVSFT BOE QSPQFS FOGPSDFNFOU UIF MBX DBO USBOTGPSN IPX .BMBZTJB UBDLMFT CVMMZJOH w $1$ *OUFSOBUJPOBM NBOBHJOH EJSFDUPS BOE DIJME DMJOJDBM QTZDIPMPHJTU %S /PPS "JTIBI 3PTMJ BHSFFE UIBU B QPSUBM BMPOF JT JOTVGGJDJFOU TUSFTTJOH UIF OFFE GPS DPVOTFMMJOH TVQQPSU BOE DMFBS TDIPPM QSPUPDPMT i$IJMESFO NVTU LOPX UIFJS WPJDFT XJMM CF IFBSE .JTIBOEMJOH DPNQMBJOUT DBO SFUSBVNBUJTF WJDUJNT MFBWF UIFN GFFMJOH BOYJPVT XJUIESBXO PS NJTUSVTUGVM PG BVUIPSJUZ w 4IF OPUFE UIBU PMEFS DIJMESFO DBO HFOFSBMMZ OBWJHBUF EJHJUBM TZTUFNT XIJMF ZPVOHFS QVQJMT NBZ OFFE HVJEBODF "OZ QMBUGPSN TIF TBJE NVTU VTF DIJME GSJFOEMZ MBOHVBHF WJTVBM DVFT BOE TUSBJHIUGPSXBSE TUFQT i*OUSPEVDJOH B QPSUBM XJUIPVU TUSFOHUIFOJOH DPVOTFMMJOH TVQQPSU XPVME CF JODPNQMFUF 4DIPPMT NVTU FOTVSF USBJOFE DPVOTFMMPST PS QTZDIPMPHJTUT BSF BWBJMBCMF UP QSPWJEF JNNFEJBUF DBSF w /PPS "JTIBI TBJE TDIPPMT BSF UIF GJSTU MJOF PG SFTQPOTF BOE NVTU IBWF DMFBS JOWFTUJHBUJPO BOE GPMMPX VQ QSPUPDPMT XJUI BENJOJTUSBUPST IFME BDDPVOUBCMF JG UIFZ GBJM UP BDU i#VMMZJOH JT OFWFS KVTU B DIJMEIPPE SJUF PG QBTTBHF &WFSZ DIJME EFTFSWFT UP GFFM TBGF JO TDIPPM BOE FWFSZ DPNQMBJOU NVTU CF USFBUFE XJUI TFSJPVTOFTT BOE DPNQBTTJPO i TIF BEEFE o #Z ,*35*/&& 3".&4)
OÛÉÉ¿ÌØ ¨Û å´¿¹ Ę ÛØ 婨¨ Ðj¢ÛjÌ Ð
˻ ͓͗ ˜ ͓͓͖͑
8¿ä Ø¿ ĝÌШjÉĞ ÉÌÉØ©¿º ¿ H9 8j´jçī8Ûд©¹ j¢º j
O¢j¹jØ ËÛj² ØÌ©¢¢Ì ç jº©ºØ jÛ´Ø ÌjØ©äjØ©¿º +0)03 #")36 5IF FBSUIRVBLF UIBU TUSVDL 4FHBNBU PO 4VOEBZ JOEJDBUFT UIBU UIF DPOUJOFOUBM DSVTU CFOFBUI 1FOJOTVMBS .BMBZTJB TUJMM IPMET UFDUPOJD TUSFTT UIBU DBO CF SFMFBTFE XJUIPVU XBSOJOH +PIPS .JOFSBM BOE (FPTDJFODF %FQBSUNFOU EJSFDUPS /PPSB[IBS /HBUJNJO TBJE QSFMJNJOBSZ HFPMPHJDBM NBQQJOH JOEJDBUFE UIBU UIF 4FHBNBU FQJDFOUSF MJFT OFBS BO FYUFOTJPO PG UIF .FSTJOH 'BVMU ;POF XIJDI USFOET GSPN XFTU OPSUIXFTU UP FBTU TPVUIFBTU i5IJT FWFOU QPJOUT UP UIF SFBDUJWBUJPO PG BO BODJFOU GBVMU SFMFBTJOH TUPSFE UFDUPOJD FOFSHZ XJUIJO UIF DPOUJOFOUBM DSVTU 5IF RVBLF T EFQUI BCPVU LN DPOGJSNT JU PSJHJOBUFE GSPN DSVTUBM NPWFNFOU OPU WPMDBOJD BDUJWJUZ PS EFFQ TFB TVCEVDUJPO w IF TBJE )F OPUFE UIBU GBVMU SFBDUJWBUJPO JT OPU OFX JO 1FOJOTVMBS .BMBZTJB DJUJOH QSFWJPVT USFNPST JO #VLJU 5JOHHJ 1BIBOH o ,FOZJS 5FSFOHHBOV ,VBMB 1JMBI /FHFSJ 4FNCJMBO BOE .BOKVOHo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i4VDI FWFOUT BSF SBSF CFDBVTF 1FOJOTVMBS .BMBZTJB TJUT PO UIF 4VOEB 1MBUF B SFMBUJWFMZ TUBCMF UFDUPOJD [POF w IF TBJE o #FSOBNB UIPVHI UIF SPX VOEFSTDPSFT JUT GSBHJMJUZ i* UIJOL UIF DPBMJUJPO BT B XIPMF JT TUJMM TUBCMF CFDBVTF JU SFBMMZ JT B %"1 "LNBM EJTQVUF #VU JG JU ESBHT PO BOE PUIFS MFBEFST HFU QVMMFE JO UIFO JU CFDPNFT IBSEFS UP FYQMBJO UIFN XPSLJOH UPHFUIFSw TIF TBJE 4ZB[B EFTDSJCFE UIF VOJUZ HPWFSONFOU BT B iDPBMJUJPO PG DPOWFOJFODFw SBUIFS UIBO BO JEFPMPHJDBM BMMJBODF DPNQMJDBUJOH DPPQFSBUJPO i*G TUBCJMJUZ JT UIF HPBM UIFO JU T FBTZ UP XPSL UPHFUIFS BOE QVU UIF DPBMJUJPO GJSTU #VU JG UIF FOE HPBM JT BMXBZT GPS UIF QBSUZ UP DPNF PVU PO UPQ UIFO PG DPVSTF UIF QSJPSJUZ XPVME CF UIF QBSUZw TIF TBJE
Ű OFXTEFTL!UIFTVOEBJMZ DPN
ÙËÖÓÞÓÙØ ÓØÓÞÓËÞÓàÏ ÍÜßÍÓËÖ ÞÙ ÌÜÙËÎÏØ ËÚÚÏËÖ ÙÐ ÚËÜÞã ËØÎ ÚÜÏÝÏØÞ ÝÞÜÙØÑ˜ ÍÙ×ÚÜÏÒÏØÝÓàÏ ÙÐÐÏÜ ÞÙ ËÖÖ ÍÓÞÓäÏØÝ˜ ÝËãÝ ÏÜÝËÞß ÜÏÚÜÏÝÏØÞËÞÓàÏ
TUSPOH NPNFOUVN i8F CFMJFWF XF SF PO UIF SJHIU USBDL UP UBLF PWFS MFBEFSTIJQ JO 4FMBOHPSu IF TBJE )F BEEFE UIBU TUBUFT TVDI BT .BMBDDB /FHFSJ 4FNCJMBO 1BIBOH BOE 4BCBI BMTP IFME QSPNJTF GPS 1/ QBSUJDVMBSMZ BNJE HSPXJOH EJTTBUJTGBDUJPO XJUI TPNF TUBUF BENJOJTUSBUJPOT .FBOXIJMF %"1 +FMVUPOH .1 34/ 3BZFS EJTNJTTFE UIF OFX DPBMJUJPO BT B GVUJMF FYFSDJTF UIBU QPTFE OP UISFBU UP UIF TUBCJMJUZ PG UIF HPWFSONFOU i5IFZ 1/ XFSF QSFWJPVTMZ HJWFO UIF PQQPSUVOJUZ UP GPSN B HPWFSONFOU XJUI VT CVU UIFZ SFGVTFE 4P IPX DBO UIFZ UBML BCPVU VOJUZ OPX XIFO XF WF TFFO 5BO 4SJ .VIZJEEJO IBE DMBTIFE XJUI GPSNFS 1FOBOH EFQVUZ DIJFG NJOJTUFS ** %S 1 3BNBTBNZ XIP OPX MFBET 6SJNBJ JO UIF QBTU i1"4 IBT BMTP IBE EJTQVUFT XJUI 3BNBTBNZ BOE .BMBZTJBO "EWBODFNFOU 1BSUZ QSFTJEFOU 1 8BZUIB .PPSUIZ FWFO BDDVTJOH UIFN PG CFJOH BOUJ *TMBN 4P JU JT DMFBS UIBU UIFJS POMZ HPBM JT UP CSJOH EPXO UIF HPWFSONFOU BOE UIF QFPQMF DBO TFF UIJT GPS UIFNTFMWFT u IF TBJE
1&5"-*/( 1FSJLBUBO /BTJPOBM 1/ JT CBOLJOH PO JUT iMPPTF DPBMJUJPOu XJUI PUIFS 0QQPTJUJPO QBSUJFT UP TIBLF PGG JUT JNBHF PG CFJOH B .BMBZ #VNJQVUFSB DFOUSJD CMPD XJUI MFBEFST JOTJTUJOH JU DBO OPX PGGFS B CSPBEFS EFBM UP BMM .BMBZTJBOT #FSTBUV 4VQSFNF $PVODJM NFNCFS %BUVL 8BO 4BJGVM 8BO +BO TBJE UIF JOJUJBUJWF XBT B TUFQ UPXBSET SFTIBQJOH QFSDFQUJPOT UIBU 1/ XBT UPP OBSSPXMZ GPDVTFE PO UIF .BMBZ .VTMJN BHFOEB i0VS BJN JT UP QSFTFOU PGGFST UP UIF FOUJSF QPQVMBUJPO i#VU UIF QPMJUJDBM SFBMJUZ JT UIBU VOUJM OPX XF BSF TFFO BT B QBSUZ UIBU T UPP GPDVTFE PO UIF .BMBZ .VTMJN #VNJQVUFSB BHFOEB i5IBU JT PVS DPSF BHFOEB ZFT CVU JU EPFT OPU NFBO XF OFHMFDU PUIFS NBUUFST i4P XJUI UIJT DPBMJUJPO * UIJOL XF OPX IBWF UIF PQQPSUVOJUZ UP QSFTFOU B TUSPOH DPNQSFIFOTJWF PGGFS UP BMM DJUJ[FOT u UIF 5BTFL (FMVHPS .1 UPME UIF4VO JO BO JOUFSWJFX SFDFOUMZ 5IF DPBMJUJPO BOOPVODFE MBTU XFFL TBX 1/ XIJDI DPNQSJTFT +":"
i'SPN UIFSF XF DBO GJOE DPNNPO HSPVOE UIBU XF DBO GJHIU GPS UPHFUIFSu IF TBJE )F TUSFTTFE UIBU UIF DPMMBCPSBUJPO SFNBJOFE BU UIF EJTDVTTJPO TUBHF BOE EJE OPU JOWPMWF TFBU BMMPDBUJPOT i5IF JNQPSUBOU UIJOH JT UIBU UIFZ XBOU UIFJS WPJDFT UP CF IFBSE BOE 1FSJLBUBO /BTJPOBM JT PQFOJOH UIF EPPS UP UIBU u IF BEEFE 8BO 4BJGVM TBJE TVTUBJOFE FOHBHFNFOU DPVME IFMQ 1/ DSBGU BO BHFOEB BQQFBMJOH UP B XJEFS EFNPHSBQIJD XJUIPVU BMJFOBUJOH JUT DPSF TVQQPSUFST 0O TUBUF QPMJUJDT IF TBJE 1/ T BNCJUJPO UP HPWFSO 4FMBOHPS XBT OPU OFX BOE FGGPSUT UP TUSFOHUIFO JUT GPPUIPME UIFSF XFSF POHPJOH )F QPJOUFE UP UIF FOUSZ PG GPSNFS 4FMBOHPS NFOUFSJ CFTBS %BUVL 4FSJ ,IJS 5PZP BOE GPSNFS $BCJOFU NJOJTUFS 5BO 4SJ /PI 0NBS JOUP #FSTBUV BT B CPPTU UP 1/ T QSPTQFDUT i"MPOH XJUI FYJTUJOH MFBEFST MJLF %BUVL 4FSJ "[NJO "MJ XF SF CVJMEJOH
#FSTBUV 1"4 (FSBLBO BOE UIF .BMBZTJBO *OEJBO 1FPQMF T 1BSUZ KPJOJOH GPSDFT XJUI .VEB 1BSUJ 1FKVBOH 5BOBIBJS 1BSUJ #VNJQVUFSB 1FSLBTB .BMBZTJB #FSKBTB .BMBZTJBO "EWBODFNFOU 1BSUZ UIF /BUJPOBM *OEJBO .VTMJN "MMJBODF 1BSUZ BOE UIF ZFU UP CF SFHJTUFSFE 6SJNBJ 1/ DIBJSNBO BOE #FSTBUV QSFTJEFOU 5BO 4SJ .VIZJEEJO :BTTJO TBJE UIF NPWF XPVME HJWF UIF PQQPTJUJPO BO PQQPSUVOJUZ UP QSPWF JUT TUSVHHMF JT JODMVTJWF BOE OPU MJNJUFE UP POF DPNNVOJUZ 8BO 4BJGVM TBJE UIF DPMMBCPSBUJPO XBT DSVDJBM UP CSPBEFOJOH 1/ T BQQFBM BMUIPVHI IF BENJUUFE JU XPVME OPU CF XJUIPVU DIBMMFOHFT QBSUJDVMBSMZ JO NBOBHJOH TDFQUJDJTN BNPOH .BMBZ WPUFST i8F IBWF UP SFDPHOJTF UIF SFBMJUZ PG UIPTF EJWJTJPOT #VU JO UIF EJTDVTTJPOT XF WF IBE JU JT PVS SFTQPOTJCJMJUZ UP ESBX UIFN BT DMPTF BT QPTTJCMF UP PVS QFSTQFDUJWF
1"53*05*$ 41*3*5 0QFSBUPST JO ,VBMB 5FSFOHHBOV JOTUBMM UIF +BMVS (FNJMBOH PO UIFJS CPBUT UP NBSL UIF UI /BUJPOBM %BZ DFMFCSBUJPO PO "VH o #&3/"."1*$
ºj´çÐØÐ å©¢¨ ²¹j´ī H ©ÐÉÛØ ©¹ÉjØ ¿º Ûº©Øç ¢¿äØ
Ű OFXTEFTL!UIFTVOEBJMZ DPN
DPNNVOJUZ SFQSFTFOUBUJWFT )F TBJE %"1 XJUI JUT MBSHFMZ OPO .BMBZ CBTF XPVME iVOEFSTUBOEBCMZ IBWF UP SFBDU BDDPSEJOHMZw 8IJMF 6NOP IBT BU UJNFT EJTUBODFE JUTFMG GSPN "LNBM JO UIF OBNF PG DPBMJUJPO VOJUZ 0I TVHHFTUFE SFDFOU EFWFMPQNFOUT QPJOUFE UP B NPSF EFMJDBUF CBMBODF i%"1 JT CPZDPUUJOH "LNBM TQFDJGJDBMMZ #VU JG UIF 6NOP NBJOTUSFBN JT UP FOEPSTF IJN UIFO JOUFS QBSUZ UJFT XPVME MJLFMZ CF TUSBJOFE w IF TBJE *OUFSOBUJPOBM *TMBNJD 6OJWFSTJUZ .BMBZTJB BTTPDJBUF QSPGFTTPS %S 4ZB[B 4IVLSJ XIP JT BMTP B GFMMPX BU UIF *4&"4o:VTPG *TIBL *OTUJUVUF TBJE UIF DPBMJUJPO SFNBJOT CSPBEMZ TUBCMF
DIBNQJPOJOH JTTVFT GPS QPMJUJDBM NJMFBHF #VU UIBU T BMM UIF NPSF SFBTPO %"1 TIPVME KVTU JHOPSF IJN i8IFUIFS UIJT DSFBUFT UFOTJPO XJUIJO UIF VOJUZ HPWFSONFOU * UIJOL %S "LNBM JT B WFSZ TNBMM NBUUFS DPNQBSFE UP UIF PWFSBMM SFMBUJPOTIJQ CFUXFFO UIF DPBMJUJPO QBSUJFT w IF TBJE 4JOHBQPSF *OTUJUVUF PG *OUFSOBUJPOBM "GGBJST TFOJPS GFMMPX %S 0I &J 4VO PGGFSFE B EJGGFSFOU WJFX TBZJOH "LNBM T BQQSPBDI FDIPFE UIBU PG NBOZ GPSNFS 6NOP :PVUI DIJFGT i"LNBM T QPMJUJDBM TUZMF JT OPU VOVTVBM BT JU NJSSPST UIBU PG IJT QSFEFDFTTPSTw 0I TBJE OPUJOH UIBU UIJT PGUFO JOWPMWFE SBJTJOH TFOTJUJWF JTTVFT UP CVJME QPMJUJDBM DBQJUBM BOE CVSOJTI UIFJS JNBHF BT
)F BEEFE UIBU %"1 T TUSPOH SFTQPOTF NBZ IBWF XPSLFE JO "LNBM T GBWPVS i5IF QSPCMFN XJUI %"1 SFBDUJOH TUSPOHMZ JT UIBU JU BDUVBMMZ HJWFT "LNBM NPSF DSFEJCJMJUZ 8JUIJO 6NOP IF T POMZ UIF ZPVUI DIJFG i:FT CZ WJSUVF PG UIBU SPMF IF TJUT PO UIF 4VQSFNF $PVODJM BOE QFSIBQT IF IBT JOGMVFODF JO .BMBDDB CVU OPU OBUJPOBMMZw IF TBJE "[NJ TBJE 6NOP JT VOMJLFMZ UP SFJO IJN JO HJWFO IJT HSBTTSPPUT BQQFBM i4PNFUJNFT IF HPFT PWFSCPBSE JO PGGJDJBM QPTJUJPO i)JT BDUJPOT BSF OFJUIFS FOEPSTFE OPS FODPVSBHFE CZ 6NOP #VU JO B XBZ 6NOP EPFT OFFE TPNFPOF MJLF "LNBM w "[NJ TBJE
1&5"-*/( +":" 5IF SFDFOU DMBTI CFUXFFO 6NOP :PVUI DIJFG %S "LNBM 4BMFI BOE %"1 IBT TUJSSFE EFCBUF PWFS JUT JNQMJDBUJPOT GPS UIF VOJUZ HPWFSONFOU BOE .BMBZTJB T NVMUJ FUIOJD QPMJUJDBM MBOETDBQF "OBMZTUT PGGFSFE NJYFE WJFXT XJUI TPNF BSHVJOH %"1 T SFBDUJPO JOBEWFSUFOUMZ CPPTUFE "LNBM T QSPGJMF XIJMF PUIFST TFF IJT DPOEVDU BT QBSU PG UIF XJEFS DIBMMFOHF PG NBOBHJOH B DPBMJUJPO PG EJWFSTF QBSUJFT /VTBOUBSB "DBEFNZ PG 4USBUFHJD 3FTFBSDI TFOJPS GFMMPX 1SPG %S "[NJ )BTTBO TBJE "LNBM T SFNBSLT TIPVME OPU CF UBLFO BT 6NOP T
TUESDAY | AUG 26, 2025 | 5
˻ ͓͗ ˜ ͓͓͖͑
8۴ة۴ØÛÌj´ ç¿ÛØ¨Ð Ì´Ø ¿º 8j´jçЩjº © ºØ©Øç
1´jºØjº Ìj© Ð ¿©´ йۢ¢´©º¢ ¿ ÐÛЩ ©Ð ¢¿¿ Ð ,05" #)"36 5IF (FOFSBM 0QFSBUJPOT 'PSDF (0' #BUUBMJPO TFJ[FE NPSF UIBO TFWFO UPOOFT PG TVCTJEJTFE HPPET JODMVEJOH DPPLJOH PJM SJDF BOE TVHBS JO TFQBSBUF SBJET VOEFS 0Q 5BSJOH 8BXBTBO ,FMBOUBO (0' TPVUIFBTU CSJHBEF DPNNBOEFS %BUVL /JL 3PT "[IBO /JL "C )BNJE TBJE UIF GJSTU SBJE UPPL QMBDF BU B QSFNJTFT JO +BMBO #BOEBS 3IV 5VNQBU BU BCPVU QN MBTU 4BUVSEBZ 5IF UFBN DPOGJTDBUFE LH PG DPPLJOH PJM PG WBSJPVT CSBOET LH PG XIJUF SJDF BOE LH PG TVHBS XPSUI BCPVU 3. i"MM UIF JUFNT BSF TVTQFDUFE UP IBWF CFFO TUPSFE JMMFHBMMZ BU UIF QSFNJTFT " ZFBS PME NBO XIP JT UIF DBSFUBLFS PG UIF QSFNJTFT XBT EFUBJOFE UP BTTJTU JO UIF JOWFTUJHBUJPO w IF TBJE JO B TUBUFNFOU ZFTUFSEBZ *O B TFQBSBUF PQFSBUJPO BU BCPVU QN PO 4VOEBZ UIF UFBN TFJ[FE QBDLFUT PG DPPLJOH PJM GSPN B WFIJDMF BCBOEPOFE CZ UIF SPBETJEF JO +BMBO #FTBS ,BNQVOH 4JSBN 1BTJS .BT 5IF TVTQFDU JT CFMJFWFE UP IBWF MFGU UIF WFIJDMF CFIJOE JO BO BUUFNQU UP TNVHHMF UIF DPPLJOH PJM UP 5IBJMBOE BGUFS SFBMJTJOH IJT NPWFNFOUT IBE CFFO EFUFDUFE CZ UIF BVUIPSJUJFT #PUI DBTFT BSF CFJOH JOWFTUJHBUFE VOEFS 4FDUJPO PG UIF $POUSPM PG 4VQQMJFT "DU o #FSOBNB jÌÐĘ ¹¿Ø¿Ìç´Ð Ìjê ©º å¿Ì²Ð¨¿É ´jê 4)") "-". 5IJSUZ TFWFO DBST BOE TFWFO NPUPSDZDMFT XFSF EFTUSPZFE JO B GJSF BU B XPSLTIPQ JO 4FLTZFO 4IBI "MBN PO 4VOEBZ OJHIU 4FMBOHPS 'JSF BOE 3FTDVF %FQBSUNFOU PQFSBUJPOT BTTJTUBOU EJSFDUPS "INBE .VLIMJT .VLIUBS TBJE BO FNFSHFODZ DBMM XBT SFDFJWFE BU QN 5XFOUZ POF GJSFGJHIUFST TVQQPSUFE CZ UISFF GJSF FOHJOFT BOE B XBUFS UBOLFS GSPN UIF 4IBI "MBN BOE +FMVUPOH TUBUJPOT XFSF EJTQBUDIFE UP UIF TDFOF 0O BSSJWBM UIFZ GPVOE B DPOWFSUFE XPSLTIPQ NFBTVSJOH CZ TR GU FOHVMGFE JO GMBNFT XJUI BCPVU PG UIF TUSVDUVSF EFTUSPZFE i/P WJDUJNT XFSF USBQQFE JO UIF CVJMEJOH " XPSLTIPQ XPSLFS TVGGFSFE CVSOT UP IJT IBOET XIJMF USZJOH UP NPWF B WFIJDMF )F JT JO TUBCMF DPOEJUJPO BOE XBT UBLFO UP IPTQJUBM CZ GBNJMZ NFNCFST w "INBE .VLIMJT TBJE JO B TUBUFNFOU 5IF DBVTF PG UIF GJSF JT VOEFS JOWFTUJHBUJPO o #FSOBNB a¿Ì´ ajÌ (( ¿¹ ¿Ûº ©º 3j¨j jØÛ -")"% %"56 "O VOFYQMPEFE PSEOBODF GSPN 8PSME 8BS ** XBT EJTDPWFSFE CZ B NBO PO UIF CBOLT PG 4VOHBJ 4FHBNB PO 4VOEBZ -BIBE %BUV EJTUSJDU QPMJDF DIJFG "$1 %[VMCBIBSJO *TNBJM TBJE UIF CPNC CFMJFWFE UP CF PG #SJUJTI PSJHJO XBT WFSJGJFE CZ UIF XFBQPOT EJWJTJPO PG UIF EJTUSJDU QPMJDF IFBERVBSUFST i5IF CPNC NFBTVSFT BCPVU DFOUJNFUSFT JO DJSDVNGFSFODF DFOUJNFUSFT JO MFOHUI BOE JT FTUJNBUFE UP XFJHI LH i*U XBT EJTDPWFSFE CZ B ZFBS PME NBO XIJMF DBTUJOH B GJTIJOH OFU JO UIF BSFB XIP MBUFS SFQPSUFE UIF GJOEJOH UP UIF QPMJDF w IF TBJE JO B TUBUFNFOU 'PMMPXJOH UIF EJTDPWFSZ %[VMCBIBSJO BEWJTFE UIF QVCMJD UP TUBZ BXBZ GSPN UIF BSFB VOUJM UIF CPNC EJTQPTBM VOJU GSPN UIF 4BCBI QPMJDF DPOUJOHFOU IFBERVBSUFST DBSSJFT PVU UIF EJTQPTBM PQFSBUJPO o #FSOBNB
ËÜÕÓØÑ ͙͗ ãÏËÜÝ ÙÐ ÓØÎÏÚÏØÎÏØÍϘ ãÙßØÑ àÙÓÍÏÝ ÜÏÐÖÏÍÞ ÙØ ÞÒÏ àËÖßÏÝ ÞÒËÞ ÕÏÏÚ ÞÒÏ ØËÞÓÙØ ߨÓÞÏÎ
Ű OFXTEFTL!UIFTVOEBJMZ DPN
1&5"-*/( +":" 'PS ZFBS PME 6OJWFSTJUJ 4BJOT .BMBZTJB 64. TUVEFOU 3IFNB 4FOH CFJOH .BMBZTJBO NFBOT DFMFCSBUJOH EJWFSTJUZ GJOEJOH VOJUZ JO EJGGFSFODFT BOE DPOOFDUJOH UISPVHI MBOHVBHF BOE TIBSFE DVMUVSBM FYQFSJFODFT i.Z NPUIFS JT B 4BCBI +BWBOFTF BOE NZ GBUIFS JT B $BOUPOFTF $IJOFTF GSPN *QPI * TFF NZTFMG BT B .BMBZTJBO m QBSU #VNJQVUFSB m KVTU MJLF UIF DPNNVOJUZ * HSFX VQ XJUI BOE BU UIF TBNF UJNF B QSPVE EFTDFOEBOU PG UIF $IJOFTF DPNNVOJUZ u TIF TBJE 3BJTFE JO B NVMUJDVMUVSBM IPVTFIPME 3IFNB SFDPVOUFE IPX $IJOFTF /FX :FBS XBT BMXBZT B NFBOJOHGVM DFMFCSBUJPO GJMMFE XJUI XBSNUI BOE UPHFUIFSOFTT i#FDBVTF XF SF $ISJTUJBOT NZ NPUIFS XPVME KPJO BMM UIF $IJOFTF /FX :FBS GFTUJWJUJFT XJUI NZ GBUIFS T GBNJMZ 4IF DBO FWFO DPPL $IJOFTF EJTIFT BOE NZ GBUIFS TQFBLT GMVFOU +BWBOFTF i.Z NVN EPFTO U TQFBL $BOUPOFTF TP EVSJOH GBNJMZ HBUIFSJOHT XIFO XF TXJUDI UP $BOUPOFTF TIF MM RVJDLMZ SFNJOE VT BOE UIFO XF MM BMM HP CBDL UP #BIBTB .BMBZTJB u 3IFNB BOE IFS TJCMJOHT HSFX VQ TQFBLJOH GPVS MBOHVBHFT #BIBTB .BMBZTJB &OHMJTI .BOEBSJO BOE +BWBOFTF i*U T OPU WFSZ DPNNPO CVU GPS VT JU XBT OBUVSBM 0VS +BWBOFTF JT BMTP MPDBMJTFE UP 4BCBI TJODF UIBU T XIFSF NZ NPUIFS DPNFT GSPN TP TPNFUJNFT XF FWFO TPVOE 4BCBIBOu TIF TBJE 4IF BENJUUFE UIBU QFPQMF PGUFO HPU DPOGVTFE CZ IFS GBNJMZ T JEFOUJUZ i8F TQFBL +BWBOFTF TPVOE B CJU 4BCBIBO BOE MPPL $IJOFTF 4P ZFT JU UISPXT QFPQMF PGG TPNFUJNFTu TIF TBJE XJUI B MBVHI 'PS 3IFNB MBOHVBHF JT BU UIF IFBSU PG CFJOH .BMBZTJBO i#BIBTB .BMBZTJB USVMZ SFGMFDUT XIP XF BSF 5IFSF BSF DFSUBJO XPSET TVDI BT TBZBOH PS NBOKB UIBU EPO U FYJTU JO .BOEBSJO 5IFTF XPSET FYQSFTT BGGFDUJPO JO B XBZ POMZ
3BJTFE JO B NVMUJDVMUVSBM IPVTFIPME 3IFNB SFDPVOUFE IPX $IJOFTF /FX :FBS XBT BMXBZT B NFBOJOHGVM DFMFCSBUJPO GJMMFE XJUI XBSNUI BOE UPHFUIFSOFTT
UIF POF XIP DPPLT BOE NZ EBE KVTU FOKPZT XIBUFWFS TIF NBLFTu TIF TBJE XJUI B MBVHI 3BJTFE JO 4BCBI #FBUSJDF BENJUUFE UIBU HSPXJOH VQ BT B NJYFE SBDF DIJME DBNF XJUI JUT DIBMMFOHFT i5IFSF BSFO U NBOZ *OEJBOT JO 4BCBI TP * EJEO U GFFM WFSZ DPOOFDUFE UP NZ *OEJBO IFSJUBHF VOUJM * NPWFE UP 1FOBOH GPS VOJWFSTJUZ #BDL JO TDIPPM * XBT PGUFO UIF POMZ *OEJBO TUVEFOU JO DMBTT * MPPLFE EJGGFSFOU NZ TLJO XBT EBSLFS BOE NZ IBJS XBTO U MJLF UIF PUIFS HJSMT i4PNF QFPQMF NBEF GVO PG NF CVU NZ GSJFOET OFWFS USFBUFE NF EJGGFSFOUMZ * XBT BMXBZT JODMVEFE JO FWFSZUIJOH u #FBUSJDF TBJE .BMBZTJB T VOJRVFOFTT MJFT JO IPX EJGGFSFODFT BSF OPU KVTU BDDFQUFE CVU DFMFCSBUFE i5IF CFBVUZ PG .BMBZTJB MJFT JO IPX XF DPNF UPHFUIFS -PPL BU NZ GBNJMZ m XF SF GSPN UXP DPNQMFUFMZ EJGGFSFOU DVMUVSFT CVU XF MJWF IBQQJMZ VOEFS POF SPPG 5IBU UP NF JT UIF USVF NFBOJOH PG VOJUZ u
.BMBZTJBOT VOEFSTUBOE i8IFO XF TQFBL JO B XBZ POMZ .BMBZTJBOT EP UIBU T XIFO XF CFDPNF POF QFPQMF -BOHVBHF VOJUFT VT m XF SF OP MPOHFS EJWJEFE CZ SBDF u 8JUI UIF DPVOUSZ QSFQBSJOH UP NBSL JUT UI .FSEFLB DFMFCSBUJPO 3IFNB FYQSFTTFE IFS HSBUJUVEF GPS UIF EJWFSTF VQCSJOHJOH UIBU TIBQFE IFS JEFOUJUZ i* N HMBE * XBT CPSO JOUP B NJYFE GBNJMZ 0UIFSXJTF * EPO U UIJOL * XPVME IBWF GVMMZ VOEFSTUPPE XIBU JU NFBOT UP CF USVMZ .BMBZTJBO u 'PS ZFBS PME DPNNVOJDBUJPO TUVEFOU #FBUSJDF "V 'FSOBOEF[ BMTP BU 64. UIF USVF FTTFODF PG CFJOH .BMBZTJBO JT GPVOE JO UIF XBSNUI PG TIBSFE NFBMT GSPN EJGGFSFOU DVMUVSFT #PSO UP B $IJOFTF NPUIFS BOE BO *OEJBO GBUIFS #FBUSJDF BGGFDUJPOBUFMZ EFTDSJCFT IFSTFMG BT i$IJOEJBOu m B MJWJOH SFGMFDUJPO PG .BMBZTJB T NVMUJDVMUVSBM TQJSJU i.Z NVN JT $IJOFTF BOE NZ EBE JT *OEJBO CVU NPTU PG UIF UJNF PVS NFBMT BU IPNF BSF $IJOFTF EJTIFT * UIJOL JU T CFDBVTF NZ NVN JT
Tº ²©´´ ©º ÌjШ jØÌ Ø´´©º¢ jØ¨Ì Ð¨ ¹©ÐÐ ¨©¹ ,6"/5"/ 4JUJ "VOJ 4ZBGJRB 4IFJLI "MJ XIP XBT LJMMFE JO B DSBTI BMPOH +BMBO #BIBV ,FSBUPOH OFBS ,BNQVOH #VLJU 4FSPL ZFTUFSEBZ IBE NBEF B WJEFP DBMM XJUI IFS GBUIFS UIF EBZ CFGPSF UP UFMM IJN IPX NVDI TIF NJTTFE IJN XIP JT TUVEZJOH JO 5BOKVOH .BMJN i4JUJ "VOJ 4ZBGJRB TBJE A* NJTT ZPV "ZBI * DBO U XBJU UP DPNF IPNF BOE IVH ZPV #VU ZFTUFSEBZ FWFOJOH TPNFPOF DBMMFE UP JOGPSN NF UIBU TIF XBT OP MPOHFS BSPVOE BGUFS CFJOH JOWPMWFE JO B DSBTI w IF TBJE BU UIF 'PSFOTJD %FQBSUNFOU PG 5FOHLV "NQVBO "G[BO )PTQJUBM IBE TFDVSFE BOPUIFS DBSEJPMPHZ BQQPJOUNFOUw IF TIBSFE *O UIF JODJEFOU o XIJDI PDDVSSFE BU BCPVU QN o UISFF QFPQMF JODMVEJOH 4JUJ "VOJ 4ZBGJRB XFSF LJMMFE XIJMF GPVS PUIFST XFSF JOKVSFE XIFO UIF DBS UIFZ XFSF USBWFMMJOH JO TLJEEFE BOE DPMMJEFE XJUI B GPVS XIFFM ESJWF PO UIF XBZ CBDL UP ,VBOUBO 4JUJ "EBXJZB 4ZBVRJOB TVTUBJOFE TFSJPVT IFBE BOE GBDJBM JOKVSJFT )FS GBUIFS 4IFJLI "MJ 4IFJLI .VTUBGB SFDBMMFE UIBU EVSJOH UIF DBMM 4JUJ "VOJ 4ZBGJRB XIP XBT XJUI IFS ZPVOHFS TJTUFS 4JUJ "EBXJZB 4ZBVRJOB UPME IJN TIF DPVME OPU XBJU UP SFUVSO IPNF BGUFS BUUFOEJOH B XFEEJOH GFBTU JO "MPS (BKBI .FMBLB i5IF MBTU UJNF * NFU UIFN XBT PO 5IVSTEBZ CFGPSF UIFZ MFGU GPS "MPS (BKBI XJUI UIFJS NPUIFS 0O 4BUVSEBZ XF IBE B WJEFP DBMM XJUI NZ FMEFTU DIJME 'PS 4IFJLI "MJ UIPTF XPSET BSF OPX BO FWFSMBTUJOH NFNPSZ SFNJOEJOH IJN PG IJT EBVHIUFS T SFTJMJFODF i4IF XBT BMXBZT TUSPOH FWFO UIPVHI TJODF UIF BHF PG GPVS TIF IBE UP HP CBDL BOE GPSUI UP UIF /BUJPOBM )FBSU *OTUJUVUF GPS USFBUNFOU *O GBDU TIF 5IFJS NPUIFS 4BMNJF[B .VIBNFE XBT OPU JOWPMWFE JO UIF DSBTI BT TIF XBT USBWFMMJOH JO BOPUIFS WFIJDMF o #FSOBNB
#¿ÛÌ ¹º ¨jÌ¢ ¿äÌ É¿´©¹jºĞÐ ¹ÛÌ Ì "-03 4&5"3 'PVS NFO XFSF DIBSHFE JO UIF .BHJTUSBUF T $PVSU ZFTUFSEBZ XJUI UIF NVSEFS PG B QPMJDF PGGJDFS PO "VH
1FOBM $PEF XIJDI DBSSJFT UIF EFBUI QFOBMUZ PS JNQSJTPONFOU PG CFUXFFO BOE ZFBST BMPOH XJUI B NJOJNVN PG TUSPLFT PG UIF DBOF VQPO DPOWJDUJPO 5IF DPVSU GJYFE /PW GPS DBTF NFOUJPO CFGPSF UIF NBUUFS JT USBOTGFSSFE UP UIF )JHI $PVSU o #FSOBNB
UIF KVSJTEJDUJPO PG UIF )JHI $PVSU 5IFZ BSF KPJOUMZ BDDVTFE PG NVSEFSJOH $QM .PIE )BGJ[VM *[IBN .B[MBO PG UIF ,FEBI QPMJDF DPOUJOHFOU DSJNJOBM JOWFTUJHBUJPO EFQBSUNFOU JO GSPOU PG B IPVTF BU 5BNBO (PMG BU QN PO "VH "MM GPVS GBDF DIBSHFT VOEFS 4FDUJPO PG UIF
/P QMFBT XFSF SFDPSEFE GSPN .VIBNBE #BESZ .VIBNBE "[BNJ .PIBNBE )BGJ[ ,IB[MJ #BESJ *NBO "CEVM /BTJS BOE .PIE 4BJGVBO .PIE /PPS BT UIF DBTF GBMMT VOEFS
˻ ͓͗ ˜ ͓͓͖͑
`©Øºj¹ äjÛjØÐ ÌЩ ºØÐ j¨j ¿ Tçɨ¿¿º 1j±©²©
$014 %&1-0:&% "5 +","35" 1305&45 +","35" .PSF UIBO TFDVSJUZ QFSTPOOFM XFSF EFQMPZFE JO +BLBSUB ZFTUFSEBZ UP FOTVSF PSEFS XBT NBJOUBJOFE EVSJOH B QSPUFTU OFBS UIF QBSMJBNFOU DPNQMFY QPMJDF TBJE $FOUSBM +BLBSUB 1PMJDF $IJFG $PNNJTTJPOFS 4VTBUZP 1VSOPNP $POESP TBJE UIF GPSDF XIJDI JODMVEFE QPMJDF TPMEJFST BOE MPDBM HPWFSONFOU PGGJDFST XBT OPU DBSSZJOH GJSFBSNT 5IF EFNPOTUSBUJPO JOWPMWFE TFWFSBM DPNNVOJUZ BMMJBODFT WPJDJOH DPODFSOT PWFS QPMJDJFT QFSDFJWFE UP BGGFDU UIF QVCMJD o #FSOBNB 30"% $3"4) ,*--4 */+63&4 */ */%*" #6-"/%4)")3 "U MFBTU FJHIU QFPQMF JODMVEJOH UXP XPNFO BOE B DIJME XFSF LJMMFE BOE BSPVOE PUIFST JOKVSFE XIFO B DPOUBJOFS USVDL DPMMJEFE XJUI B USBDUPS DBSSZJOH EFWPUFFT JO *OEJB T OPSUIFSO TUBUF PG 6UUBS 1SBEFTI ZFTUFSEBZ QPMJDF TBJE i5ISFF QFPQMF BSF JO TFSJPVT DPOEJUJPO w TBJE #VMBOETIBIS EJTUSJDU QPMJDF DIJFG %JOFTI ,VNBS 4JOHI o 3FVUFST
UIFSF JT MFTT PDFBO IFBU DPOUFOUu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m "'1
DBNQFE PVU BU UIF FWBDVBUJPO TJUF ZFTUFSEBZ NPSOJOH 5IF UZQIPPO JT FYQFDUFE UP NBLF MBOEGBMM BU BSPVOE QN (.5 XJUI XJOET PG LQI TBJE UIF /BUJPOBM $FOUSF GPS )ZESP .FUFPSPMPHJDBM 'PSFDBTUJOH 4DJFOUJTUT TBZ IVNBO DBVTFE DMJNBUF DIBOHF JT ESJWJOH NPSF JOUFOTF BOE VOQSFEJDUBCMF XFBUIFS QBUUFSOT UIBU DPVME NBLF EFTUSVDUJWF GMPPET BOE TUPSNT NPSF MJLFMZ QBSUJDVMBSMZ JO UIF USPQJDT i/PSNBMMZ XF HFU TUPSNT BOE GMPPEJOH CVU OFWFS UIJT CJH u TBJE ZFBS PME /HVZFO 5IJ /IBO 5IF UZQIPPO T QPXFS JT EVF UP EJTTJQBUF BGUFS JU NBLFT MBOEGBMM 5IF +PJOU 5ZQIPPO 8BSOJOH $FOUSF TBJE DPOEJUJPOT TVHHFTUFE iBO BQQSPBDIJOH XFBLFOJOH USFOE BT UIF TZTUFN BQQSPBDIFT UIF DPOUJOFOUBM TIFMG PG UIF (VMG PG 5POLJO XIFSF
ßÞÒÙÜÓÞÓÏÝ ÝËã ÝÍÒÙÙÖÝ ËØÎ ÚßÌÖÓÍ ÌßÓÖÎÓØÑÝ ÍÙØàÏÜÞÏÎ ÓØÞÙ ÞÏ×ÚÙÜËÜã ÝÒÏÖÞÏÜÝ
7*/) 5FOT PG UIPVTBOET PG SFTJEFOUT XFSF FWBDVBUFE GSPN DPBTUBM 7JFUOBN ZFTUFSEBZ BT 5ZQIPPO ,BKJLJ CBSSFMMFE UPXBSET MBOEGBMM FYQFDUFE UP MBTI UIF DPVOUSZ T DFOUSBM CFMU XJUI HBMFT PG BSPVOE LQI .PSF UIBO SFTJEFOUT JO GJWF DPBTUBM QSPWJODFT IBWF CFFO TMBUFE GPS FWBDVBUJPO UP TDIPPMT BOE QVCMJD CVJMEJOHT DPOWFSUFE JOUP UFNQPSBSZ TIFMUFST BVUIPSJUJFT TBJE 5IF XBUFSGSPOU DJUZ PG 7JOI XBT EFMVHFE PWFSOJHIU XJUI JUT TUSFFUT MBSHFMZ EFTFSUFE CZ NPSOJOH BOE NPTU TIPQT BOE SFTUBVSBOUT DMPTFE BT SFTJEFOUT BOE CVTJOFTT PXOFST TBOECBHHFE UIFJS QSPQFSUZ FOUSBODFT
#Z EBXO OFBSMZ QFPQMF IBE CFFO FWBDVBUFE GSPN UIF SFHJPO BT NJMJUBSZ QFSTPOOFM XFSF NPCJMJTFE 5XP EPNFTUJD BJSQPSUT XFSF TIVU BOE BMM GJTIJOH TIJQT JO UIF UZQIPPO T QBUI XFSF DBMMFE CBDL UP IBSCPVS i* IBWF OFWFS IFBSE PG B UZQIPPO PG UIJT TDBMF DPNJOH UP PVS DJUZ u TBJE ZFBS PME -F .BOI 5VOH BU B 7JOI JOEPPS TQPSUT TUBEJVN XIFSF FWBDVBUFE GBNJMJFT EJOFE PO B TJNQMF CSFBLGBTU PG TUJDLZ SJDF i* BN B CJU TDBSFE CVU XF IBWF UP BDDFQU JU CFDBVTF JU JT OBUVSF 8F DBOOPU EP BOZUIJOH u IF UPME "'1 BNPOH POMZ B GFX EP[FO QFPQMF
Hj²©ÐØjºĘ jº¢´j Ш Ø¿ ¿¿ÐØ Ø©Ð /&8 %&-)* 1BLJTUBO BOE #BOHMBEFTI IBWF SFBGGJSNFE UIFJS DPNNJUNFOU UP DMPTFS SFHJPOBM DPPQFSBUJPO BOE TUSPOHFS CJMBUFSBM SFMBUJPOT EVSJOH 1BLJTUBOJ %FQVUZ 1SJNF .JOJTUFS BOE 'PSFJHO .JOJTUFS *TIBR %BS T MBOENBSL WJTJU UP %IBLB %BS XIP XBT JO #BOHMBEFTI GPS B UXP EBZ USJQ DBMMFE PO UIF JOUFSJN HPWFSONFOU T $IJFG "EWJTFS UIF CSPUIFSMZ SFMBUJPOT CFUXFFO UIF DPVOUSJFT BOE UIFJS TIBSFE EFTJSF UP BVHNFOU FOHBHFNFOU BOE DPPQFSBUJPO 5IF UXP TJEFT BHSFFE UP JNQSPWF DPPQFSBUJPO JO BSFBT TVDI BT USBEF JOWFTUNFOU BHSJDVMUVSF FEVDBUJPO IFBMUI FOFSHZ USBOTQPSU BOE UPVSJTN
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i#Z 0DUPCFS XF IPQF UIBU 'MZ +JOOBI XPVME MBVODI EJSFDU GMJHIUT CFUXFFO PVS UXP DPVOUSJFT 1BLJTUBO *OUFSOBUJPOBM "JSMJOFT JT BMTP FYQFDUFE UP MBVODI EJSFDU GMJHIUT UP %IBLB PODF UIF BJSMJOF JT QSJWBUJTFE i %BS XBT RVPUFE BT TBZJOH JO UIF SFQPSU 5IF EJTDVTTJPOT BMTP GPDVTFE PO NBKPS JOUFSOBUJPOBM JTTVFT #BOHMBEFTI IBT TPVHIU 1BLJTUBO T DPOUJOVFE TVQQPSU JO FGGPSUT UP FOTVSF BO FBSMZ TBGF WPMVOUBSZ BOE EJHOJGJFE SFUVSO PG 3PIJOHZB SFGVHFFT UP .ZBONBS 0WFS NJMMJPO 3PIJOHZBT IBWF TPVHIU SFGVHF JO #BOHMBEFTI GMFFJOH HFOPDJEF BOE QFSTFDVUJPO JO .ZBONBS o #FSOBNB
.VIBNNBE :VOVT PO 4VOEBZ BOE IFME XJEF SBOHJOH UBMLT XJUI 'PSFJHO "GGBJST "EWJTFS 5PVIJE )PTTBJO BT XFMM BT NFFUJOHT XJUI PUIFS TFOJPS #BOHMBEFTIJ PGGJDJBMT JOUFMMFDUVBMT CVTJOFTT MFBEFST BOE UPQ QPMJUJDBM GJHVSFT )JT WJTJU IPMET JNNFOTF QSPNJTF UP UBLF UIF *TMBNBCBE %IBLB SFMBUJPOTIJQ UP B OFX MFWFM BOE JT UIF GJSTU CZ B 1BLJTUBOJ GPSFJHO NJOJTUFS UP %IBLB JO ZFBST i* BN DPOGJEFOU UIBU UIJT WJTJU XPVME BEE OFX NPNFOUVN UP 1BLJTUBO #BOHMBEFTI SFMBUJPOT XJUI NPSF GSFRVFOU FYDIBOHFT BOE FOIBODFE DPPQFSBUJPO BDSPTT BMM TFDUPST i IF TBJE JO B QPTU PO 9 "DDPSEJOH UP B #BOHMBEFTI 4BOHCBE 4BOHTUIB OFXT BHFODZ SFQPSU :VOVT TBJE 1BLJTUBO BOE #BOHMBEFTI IBWF DPNNPO JOUFSFTUT JO SFWJUBMJTJOH UIF 4PVUI "TJBO "TTPDJBUJPO GPS 3FHJPOBM $PPQFSBUJPO 4""3$ i&WFSZ UJNF 1SJNF .JOJTUFS 4IFICB[ 4IBSJG BOE * NFFU XF TQFBL BCPVU 4""3$ 0VS WJTJPOT BSF BMJHOFE BOE 4""3$ SFNBJOT B UPQ QSJPSJUZ GPS CPUI PG VT i :VOVT UPME %BS i* FODPVSBHF 4""3$ BOE * TFF PVS SFMBUJPOTIJQ XJUI 1BLJTUBO BOE PUIFS 4""3$ DPVOUSJFT BT POF PG UIF IJHIFTU QSJPSJUJFT i :VOVT XBT RVPUFE BT TBZJOH JO UIF SFQPSU 5IF FJHIU NFNCFS SFHJPOBM CPEZ IBT OPU IFME B MFBEFSTIJQ TVNNJU TJODF B NFFUJOH JO ,BUINBOEV *O B TUBUFNFOU #BOHMBEFTI T 'PSFJHO .JOJTUSZ TBJE UIF CJMBUFSBM NFFUJOH UPPL QMBDF JO B TQJSJU PG XBSNUI BOE HPPEXJMM SFGMFDUJOH
6/*5&% */ &9*-& 3PIJOHZB SFGVHFFT JO $PY T #B[BS #BOHMBEFTI ZFTUFSEBZ UBLJOH QBSU JO B SBMMZ JOTJEF B SFGVHFF DBNQ UP NBSL UIF FJHIUI BOOJWFSTBSZ PG UIFJS FYPEVT o 3&65&341*$
9å ´jå j´´¿åÐ ÐØÌ©ÉÉ©º¢ ¿ ©Ø©êºÐ¨©É
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iXPVME IBWF B DIJMMJOH FGGFDU PO UIF GSFFEPN PG TQFFDI PG BMM $BNCPEJBO DJUJ[FOTw i5IF QPUFOUJBM GPS BCVTF JO UIF JNQMFNFOUBUJPO PG UIJT WBHVFMZ
TBZ iSFDFJWJOH MPTJOH BOE SFWPLJOH ,INFS OBUJPOBMJUZ TIBMM CF EFUFSNJOFE CZ MBXw i*G ZPV CFUSBZ UIF OBUJPO UIF OBUJPO XJMM OPU LFFQ ZPV w TBJE +VTUJDF .JOJTUFS ,PFVU 3JUI -BTU NPOUI "NOFTUZ *OUFSOBUJPOBM DBMMFE UIF MFHJTMBUJPO B iIFJOPVT WJPMBUJPO PG JOUFSOBUJPOBM MBXw i*U DPNFT BHBJOTU B CBDLESPQ JO XIJDI $BNCPEJBO BVUIPSJUJFT IBWF GBJMFE UP TBGFHVBSE UIF JOUFHSJUZ PG UIF DPVOUSZ T DPVSUT w TBJE SFHJPOBM SFTFBSDI EJSFDUPS .POUTF 'FSSFS i5IJT IBT FOBCMFE UIF HPWFSONFOU T BVUIPSJUBSJBO QSBDUJDFT UP DPOUJOVF VODIFDLFE TVDI BT JUT QFSTFDVUJPO PG PQQPTJUJPO MFBEFST BDUJWJTUT BOE JOEFQFOEFOU KPVSOBMJTUT w 4DPSFT PG PQQPTJUJPO BDUJWJTUT IBWF CFFO KBJMFE PS GBDF MFHBM DBTFT GJMFE CZ $BNCPEJBO BVUIPSJUJFT o "'1
XPSEFE MBX UP UBSHFU QFPQMF PO UIF CBTJT PG UIFJS FUIOJDJUZ QPMJUJDBM PQJOJPOT TQFFDI BOE BDUJWJTN JT TJNQMZ UPP IJHI UP BDDFQU w JU BEEFE i5IF HPWFSONFOU IBT NBOZ QPXFST CVU UIFZ TIPVME OPU IBWF UIF QPXFS UP BSCJUSBSJMZ EFDJEF XIP JT BOE JT OPU B $BNCPEJBO w 5IF MFHJTMBUJPO NVTU CF QBTTFE CZ $BNCPEJB T VQQFS IPVTF CFGPSF CFJOH FOBDUFE CZ UIF IFBE PG TUBUF CVU CPUI BSF DPOTJEFSFE SVCCFS TUBNQ TUFQT $JUJ[FOTIJQ DBO CF SFWPLFE PO HSPVOET PG USFBTPO PS EJTMPZBMUZ JO &VSPQFBO 6OJPO DPVOUSJFT BOE POMZ GPS OBUVSBMJTFE DJUJ[FOT JO FJHIU PG UIPTF BDDPSEJOH UP B &VSPQFBO 1BSMJBNFOU CSJFGJOH JO 'FCSVBSZ 5IF VODPOEJUJPOBM SJHIU UP DJUJ[FOTIJQ XBT FOTISJOFE JO $BNCPEJB T $POTUJUVUJPO CVU MBXNBLFST MBTU NPOUI BNFOEFE JU UP
Made with FlippingBook Digital Proposal Maker