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3FMFFNSF
K>TUGP
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7SQPFGYRNQKUCUKG 8GVTFGP$=QTU HCTG ( ', TGRUGODGS (&'. '.%&.%&-
5G SCCF WCP FG IGOGGPUG 2TUGP0
IGZKGP JGU WQQSTUGN WCP JGU EQNNGIG WCP DVSIGOGGTUGS GP XGUJQVFGST WCP '* LVPK (&'.
OGU ZCCMPVOOGS (&'.&)*,-&0
IGJQQSF JGU CFWKGT WCP FG EQOOKTTKG 2NIGOGPG ZCMGP GP 4QPUSQN WCP + TGRUGODGS (&'.0
DGTNVKU/
'% FG ISQPFGYRNQKUCUKG UGP DGJQGWG WCP FG QPUXKMMGNKPI WCP JGU RSQLGEU 8GVTFGP$=QTU HCTG ( WCTU UG TUGNNGP0
(% FG DGISQUKPI UG XKLZKIGP EQPHQSO CFWKGT%
2NFVT WCTUIGTUGNF KP FG QRGPDCSG WGSICFGSKPI WCP FG SCCF WCP FG IGOGGPUG 2TUGP WCP ', TGRUGODGS (&'.%
5G SCCF WQQSPQGOF#
ISKHHKGS#
OS% ;%3%A% WCP 6SR$>QPPGOCPT
WQQSZKUUGS#
OS% 8%7% @QT
3FMFFNSF
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/45 A..69>882;- '%&,%()*+%
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PVOOGS/
R%J%/
7SQPFGYRNQKUCUKG 8GVTFGP$=QTU HCTG ( $)$ ', TGRUGODGS
(&'. '.%&.%&- 8;
FG SCCF
WCP FG IGOGGPUG 2TUGP
<BMFNUBSSING
5G IGOGGPUG KT DGZKI OGU FG QPUXKMMGNKPI WCP FG UXGGFG HCTG WCP FG XQQPXKLM 8GVTFGP$QQTU%
=OFCU JGU RSQLGEU XQSFU VKUIGWQGSF QPFGS CEUKGH ISQPFDGNGKF KT JGU PQQFZCMGNKLM FCU GGP ISQPFGYRNQKUCUKG XQSFU WCTUIGTUGNF%
/FRLIRPTNSFN 5G SCCF DGTNVKU/
'% FG ISQPFGYRNQKUCUKG UGP DGJQGWG WCP FG QPUXKMMGNKPI WCP JGU RSQLGEU 8GVTFGP$=QTU HCTG ( WCTU UG TUGNNGP0
(% FG DGISQUKPI UG XKLZKIGP EQPHQSO CFWKGT%
4NLFIEING
9P LVPK (&'( XGSF JGU DGTUGOOKPITRNCP 8GVTFGP :QOIGDKGF (&'' !8GVTFGP =QTU"
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
=OFCU KPOKFFGNT JGU TUGFGPDQVXMVPFKI RNCP GP JGU XKLZKIKPITRNCP DGTEJKMDCCS ZKLP# MCP GGP SGFGNKLMG KPTEJCUUKPI IGOCCMU XQSFGP WCP FG UQUCNG MQTUGP GP QRDSGPITUGP WCP FGZG
IGDKGFTQPUXKMMGNKPI% 5GSJCNWG KT WQQS FGZG IGDKGFTQPUXKMMGNKPI GGP ISQPFGYRNQKUCUKG QRIGTUGNF#
XCCSKP JGU !HKPCPEK[NG" SGTVNUCCU WCP JGU RSQLGEU KPZKEJUGNKLM XQSFU IGOCCMU% 9P FG ISQPFGYRNQKUCUKG KT GGP SCOKPI XGGSIGIGWGP WCP WGSXCEJUG MQTUGP GP QRDSGPITUGP FKG KP FG NQQR WCP FG UKLF ZVNNGP QPUTUCCP% 5G ISQPFGYRNQKUCUKG IGGHU FCCSOGG GGP HKPCPEK[NG QPFGSDQVXKPI WQQS FG HKPCPEK[NG JCCNDCCSJGKF WCP FG IGDKGFTQPUXKMMGNKPI 8GVTFGP$=QTU HCTG (%
@BS VILLFN VF CFQFIKFN
8GU WCTUTUGNNGP WCP GGP ISQPFGYRNQKUCUKG KT IGGP FQGN QR ZKEJ# OCCS GGP OKFFGN QO UG MQOGP UQU GGP GHHGEUKGWG ISQPFGYRNQKUCUKG GP IGDKGFTQPUXKMMGNKPI% ;GU FGZG QPUXKMMGNKPI XQSFU FG DQVX WCP OCYKOCCN ). XQPKPIGP GP FG SGCNKTCUKG WCP GGP QPUTNVKUKPI WQQS NCPIZCCO WGSMGGS WQQS ZQXGN 8GVTFGP$=QTU HCTG ' CNT HCTG ( PCCS FG @NKPMGSU OQIGNKLM IGOCCMU%
@QQS XCU DGUSGHU FG HKPCPEK[P KT JGU FQGN WCP JGU RSQLGEU FCU FG ISQPFGYRNQKUCUKG UGPOKPTUG DVFIGUUCKS PGVUSCCN XQSFU VKUIGWQGSF%
@BS GBBN VF EBBQUOOQ EOFN
5G ISQPFGYRNQKUCUKG KT GGP KPTEJCUUKPI WCP RQUGPUK[NG MQTUGP GP QRDSGPITUGP# 9P UKLF VKUIGZGU% 9P FG WQQS V UGS KPZCIG NKIIGPFG OGOQ ?QGNKEJUKPI ISQPFGYRNQKUCUKG 8GVTFGP$=QTU HCTG ( XQSFU MQSU KPIGICCP QR FG QRZGU# QPFGSNKIIGPFG VKUICPITRVPUGP GP JGU SGTVNUCCU WCP FG GYRNQKUCUKG% 9P FG ISQPFGYRNQKUCUKG# XGNMG UGWGPT WQQS V UGS KPZCIG NKIU# WKPF V FG IGJGNG GYRNQKUCUKGQRZGU% 9P FG ISQPFGYRNQKUCUKG KT UGWGPT KPZKEJUGNKLM IGOCCMU KP XGNM LCCS XG WGSXCEJUGP XGNMG MQTUGP UG OCMGP
!GP FCCSCCP IGSGNCUGGSF XGNMG CEUKWKUGKUGP XG XCPPGGS WGSXCEJUGP VKU UG WQGSGP"%
6GP ISQPFGYRNQKUCUKGDGSGMGPKPI DGWCU IGIGWGPT FKG KP FGZG HCTG WCP JGU RSQEGT PKGU RVDNKGMGNKLM DGMGPF OQGUGP XQSFGP% 5GSJCNWG XQSFGP FGZG FQEVOGPUGP VKUTNVKUGPF QPFGS IGJGKOJQVFKPI !CSU%
'& AQD GP CSU% (+ 7GOX%" DGTEJKMDCCS IGTUGNF GP KT JGU PQQFZCMGNKLM FCU FG FQEVOGPUGP XCCSPCCS WGSXGZGP XQSFU KP GGP DGTNQUGP FGGN WCP FG WGSICFGSKPI DGJCPFGNF XQSFGP%
8OGFLIJKF BLSFQNBSIFUFN
?GP DGJQGWG WCP GGP RSQLGEU CNT FKU KT JGU PQQFZCMGNKLM GGP ISQPFGYRNQKUCUKG WCTU UG TUGNNGP%
9POKFFGNT JGGHU GGP !QPUXGSR"XKLZKIKPITRNCP UGS KPZCIG IGNGIGP# QR DCTKT XCCSWCP GGP IGFGIGP KPTEJCUUKPI IGOCCMU MCP XQSFGP WCP FG MQTUGP GP QRDSGPITUGP GP FG NQQRUKLF WCP JGU RSQLGEU% =O UG WQQSMQOGP FCU TUGGFT WQQSDGSGKFKPITMSGFKGUGP FQQS VX SCCF UGS DGTEJKMMKPI OQGUGP XQSFGP IGTUGNF# XQSFU UJCPT WQQSIGTUGNF QO FG UQUCNG ISQPFGYRNQKUCUKG WQQS JGU RSQLGEU WCTU UG TUGNNGP%
;IRIDO R
=OFCU GGP ISQPFGYRNQKUCUKG KP CNNG IGWCNNGP GGP KPTEJCUUKPI KT WCP FG UG OCMGP MQTUGP GP FG UG WGSXCEJUGP QRDSGPITUGP# ZKLP GS CNUKLF !HKPCPEK[NG" SKTKEQ T CCP WGSDQPFGP% @QQS GGP WGSFGSG DGTEJSKLWKPI WCP FG SKTKEQ T WCP FGZG ISQPFGYRNQKUCUKG XQSFU WGSXGZGP PCCS FG DKLNCIGP DKL FKU WQQSTUGN%
0OMMTNIDBSIF
BQCNT GGSFGS CCPIGIGWGP DGWCU FG ISQPFGYRNQKUCUKGDGSGMGPKPI IGIGWGPT FKG KP FGZG HCTG WCP JGU RSQEGT PKGU RVDNKGMGNKLM DGMGPF OQGUGP XQSFGP% 3GTNVKUWQSOKPI QWGS JGU SCCFTWQQSTUGN WKPFU RNCCUT KP FG QRGPDCSG WGSICFGSKPI%
@BS MBG HFS KORSFN
BQCNT KP JGU WQSGPTUCCPFG CN KT CCPIGIGWGP KT JGU VKUICPITRVPU FCU FG ISQPFGYRNQKUCUKG WQQS FKU RSQLGEU UGPOKPTUG DVFIGUUCKS PGVUSCCN XQSFU VKUIGWQGSF% 5G DGISQUKPI ZCN XQSFGP IGXKLZKIF EQPHQSO FG WQQSNKIIGPFG ISQPFGYRNQKUCUKG%
<C WCTUTUGNNKPI FQQS VX SCCF WQSOU FG ISQPFGYRNQKUCUKG FG WGSFGSG HKPCPEK[NG DCTKT WQQS FG VKUWQGSKPI WCP JGU RSQLGEU% =OFCU FG ISQPFGYRNQKUCUKG CNUKLF GGP OQOGPUQRPCOG KT# ZCN DGXCMKPI GP DKLTUGNNKPI IGFVSGPFG FG NQQRUKLF WCP JGU RSQLGEU TUGGFT PQFKI ZKLP% 8GU KT DKPPGP FG
ISQPFGYRNQKUCUKG IGDSVKMGNKLM FG DVFIGUUGP DKL WCTUTUGNNKPI WCP FG LCCSSGMGPKPI TUGGFT FQQS FG SCCF UG NCUGP CEUVCNKTGSGP% ;QEJU JKGSUQG CCPNGKFKPI ZKLP# DKLWQQSDGGNF WCPXGIG QPWQQSZKGPG
QOTUCPFKIJGFGP OGU ISQUG HKPCPEK[NG IGWQNIGP# FCP MCP CCPRCTTKPI OGGSFGSG MGSGP RGS LCCS RNCCUT WKPFGP%
/IJLBGF N!$SFQ INWBGF INDI# EODTMFNS"NQ!
?GS KPZCIG !WGSUSQVXGNKLM# PKGU QR TKUG"/
'% 7SQPFGYRNQKUCUKG 8GVTFGP$=QTU HCTG ( !(&'.&),(.*"
(% ;GOQ ?QGNKEJUKPI 7SQPFGYRNQKUCUKG 8GVTFGP$=QTU HCTG ( !(&'.&)+&--"
5%WCPFGPQGUGNCCS1CTUGP%PN
