Die genetische Allianz

+*(:(56 'LH *HQHWLVFKH$OOLDQ] 352/2* 6LH KDWWH DOOH *HKHLPQLVVH GHU XUDOWHQ 6WDWLRQ LQ GHQ %HUJ...

15 downloads 572 Views 319KB Size Report

This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form

DOWNLOAD PDF

+*(:(56

'LH *HQHWLVFKH$OOLDQ]

352/2* 6LH KDWWH DOOH *HKHLPQLVVH GHU XUDOWHQ 6WDWLRQ LQ GHQ %HUJHQ GHU 6WXUPZHOW HQWVFKOHLHUWXQGDOOH5lWVHOGLHVLHVRXQKHLPOLFKJHPDFKWKDWWHQJHO|VW 6LHZXWHMHW]WZHUGLHLP)HOVYHUERUJHQH6WDWLRQYRU-DKUWDXVHQGHQDQJHOHJW KDWWH XQG ZDUXP ² XQG VLH ZXWH DXFK ZDUXP LKU JHWUHXHU 3DODGLQ LQ GLH *HVFKLFNHYHUVWULFNWZRUGHQZDU =ZDU KDWWH VLH HLQHQ SVLRQLVFKHQ 6FKRFN HUOLWWHQ DOV LKU %HZXWVHLQ EHL GHP 9HUVXFK GHQ ELRQLVFKHQ 7HLO GHV 6WDWLRQVJHKLUQV GXUFK 3HGRWUDQVIHULHUXQJ ]X EHUQHKPHQ JHJHQ HLQHQ [GLPHQVLRQDOHQ $EZHKUVFKLUP JHSUDOOW ZDU GRFK KDWWH GLHVHU 6FKRFN HLQHQ =HURWUDXP DXVJHO|VW LQ GHP VLH GLH *HVFKLFKWH GHU 6WDWLRQQDFKHUOHEWKDWWH 8QGQXQZXWHVLHDOOHV 'DVJODXEWHVLHMHGHQIDOOVELVLKUJHJHQ(QGHGHV=HURWUDXPVHLQH(ULQQHUXQJ DQ GLH 5HDOLWlW JHGlPPHUW ZDU *HZLVVH (LJHQKHLWHQ GHV 6WDWLRQVJHKLUQV VWLPPWHQPLWJHZLVVHQ(LJHQKHLWHQHLQHV0ROHNXODUJHKLUQVEHUHLQEHUGDVVLH YRUOlQJHUHU=HLWHLQHQ%HULFKWJHVLFKWHWKDWWH 'HQ %HULFKW EHU GLH 1HXEHOHEXQJ HLQHU 2UJDQLVDWLRQ GLH YRU YLHOHQ -DKUKXQGHUWHQ QDFK GHP %HLVSLHO GHV +WHUV GHV /LFKWV JURH /HLVWXQJHQ IU GHQ )ULHGHQ LQ XQG ]ZLVFKHQ GHQ *DOD[LHQ YROOEUDFKW KDWWH GDV ,QWHUJDODFWLF 3HDFH&RUSVNXU],3&JHQDQQW 1DFK GLHVHP %HULFKW KDWWHQ ]ZHL 9LURQDXWHQ GLH ;WKRUHULQ 6KDDQ\ 3XONU XQG GHU8NWDQHU-RUQ0DGG\VLFKQDFKGHUNDWDVWURSKDOHQ+DYDULHGHV9LUHQVFKLIIV *25'2167$5PLWHLQHP6HJPHQWDOVHLQ]LJHhEHUOHEHQGHDXIGHQ3ODQHWHQ :LOORFNDP5DQGGHU.OHLQJDOD[LV%HDUHWWHQN|QQHQ 'RUW ZDUHQ GLH EHLGHQ *DODNWLNHU LQ GHQ .ULHJ ]ZLVFKHQ GHQ 7UXQK XQG GHQ %DNWHQ YHUZLFNHOW ZRUGHQ GHU ZDKUVFKHLQOLFK PLW GHU JHJHQVHLWLJHQ 9HUQLFKWXQJDOOHU%HWHLOLJWHQJHHQGHWKlWWHZHQQHVWLHILP,QQHUQYRQ:LOORFN QLFKWHLQ0ROHNXODUJHKLUQJHJHEHQKlWWHLQGHVVHQ6SHLFKHUQGLH,QIRUPDWLRQHQ EHU +HUNXQIW XQG *HVFKLFKWH GHU 7UXQK XQG %DNWHQ HQWKDOWHQ ZDUHQ QHEHQ ]DKOORVHQDQGHUHQ,QIRUPDWLRQHQ 6KDDQ\ 3XONU XQG -RUQ 0DGG\ KDWWHQ GDV *HKHLPQLV GLHVHV XUDOWHQ *HKLUQV HQWVFKOHLHUWXQGHVGD]XEULQJHQN|QQHQ]ZLVFKHQGHQNULHJIKUHQGHQ3DUWHLHQ ]XYHUPLWWHOQXQG)ULHGHQ]XVWLIWHQ 1HEHQEHL DEHU KDWWHQ GLH 9LURQDXWHQ DXFK HLQLJHV EHU GLH *HVFKLFKWH GHV ,QWHUJDODFWLF 3HDFH &RUSV HUIDKUHQ XQG LKQHQ ZDU NODU JHZRUGHQ GD XQWHU LKUHQ9RUIDKUHQ$QJHK|ULJHMHQHUVHJHQVUHLFKHQ2UJDQLVDWLRQJHZHVHQZDUHQ 6KDDQ\ XQG -RUQ KLHOWHQ LKUH (UOHEQLVVH DXI :LOORFN IU HLQHQ :LQN GHV 6FKLFNVDOV XQG EHVFKORVVHQ GDV 9HUPlFKWQLV GHV ,3& PLW QHXHP /HEHQ ]X HUIOOHQ 6LH EUDFKHQ JHPHLQVDP PLW GHQ 7UXQK XQG %DNWHQ LQ HLQHU

'DNNDUUDXP3ODWWIRUPLQ5LFKWXQJ0LOFKVWUDHDXIXPGRUWQDFKGHQ8UHQNHOQ GHU )UDXHQ XQG 0lQQHU GHV ,QWHUJDODFWLF 3HDFH &RUSV ]X VXFKHQ XQG PLW LKUHU +LOIHGLHVH2UJDQLVDWLRQQHXDXI]XEDXHQ $QGLHVH,QIRUPDWLRQHQHULQQHUWHVLFKGLH=HURWUlXPHULQJHQDXDEHUDXFKGDUDQ GDLQGHU0LOFKVWUDHQLHPDOVHLQQHXHV,3&LQ(UVFKHLQXQJJHWUHWHQZDU 6KDDQ\XQG-RUQPXWHQPLWLKUHP9RUKDEHQJHVFKHLWHUWVHLQ 2GHU VLH ZDUHQ GXUFK ZLGULJH 8PVWlQGH DQ GHU 5FNNHKU LQ GLH 0LOFKVWUDH JHKLQGHUW ZRUGHQ VR ZLH DXFK MHW]W VLHEHQKXQGHUWIQI]HKQ -DKUH VSlWHU GLH 7DUNDQ)ORWWH XQWHU 3HUU\ 5KRGDQ ]X GHU GLH =HURWUlXPHULQ JHK|UW NHLQH 0|JOLFKNHLWIDQGLQGLHKHLPDWOLFKH*DOD[LV]XUFN]XNHKUHQ $EHUGDVZDUHVQLFKWZDVGLHHLQVDPH=HURWUl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|IIQHWH GHU =HURWUlXPHULQ GLH 0|JOLFKNHLW EHU GLH (QGORV6FKOHLIH GHQQRFK GHQ ELRQLVFKHQ 7HLO GHV 6WDWLRQVJHKLUQV ]X EHUQHKPHQ 'D VLH HLQ 3URGXNW GHU ² ZHQQ DXFK UXQG -DKUH ]XUFNOLHJHQGHQ9HUVFKPHO]XQJFDSSLQVFKHUXQGOHPXULVFKHU(UEDQODJHQZDU EHVD VLH QLFKW QXU GLH )lKLJNHLW GHV =HURWUlXPHQV VRQGHUQ DXFK GHU 3HGR WUDQVIHULHUXQJ 'LHVH )lKLJNHLW VHW]WH VLH MHW]W HLQ XP GLH %LRQLN GHV 3DUDOOD[XPV ]X EHUZlOWLJHQ XQG ]X HUIDKUHQ ZDV VHLQH ([LVWHQ] PLW GHQ GRPLQLHUHQGHQ ,QWHOOLJHQ]HQGHU*DOD[LV*UXHOILQ]XWXQKDWWH 6R VHKU ILHEHUWH VLH GDQDFK GD VLH LP HQWVFKHLGHQGHQ 0RPHQW YHUVlXPWH ]XHUVW DXV GHP =HURWUDXP LQ LKUHQ .|USHU ]XUFN]XNHKUHQ EHYRU VLH ]XU 3HGRWUDQVIHULHUXQJDQVHW]WH 6RNDPHVGDLKU%HZXWVHLQ]ZDULQGLH(QGORV6FKOHLIHGHV6WDWLRQVJHKLUQV HLQGULQJHQ GLH %LRQLN GLHVHV 0ROHNXODUJHKLUQV MHGRFK QLFKW EHUQHKPHQ NRQQWH 6WDWWGHVVHQZXUGHLKU%HZXWVHLQYRQHWZDVDQGHUHPEHUQRPPHQGDVLQGHU (QGORV6FKOHLIH JHIDQJHQ ZDU XQG QXU DXI HLQH VROFKH *HOHJHQKHLW JHZDUWHW KDWWH 'DV ZLHGHUXP DNWLYLHUWH HLQH YHUVWHFNWH 3URJUDPPLHUXQJ GHV 6WDWLRQVJHKLUQV (V OHLWHWH GLH 6HOEVW]HUVW|UXQJ HLQ XQG YHUQLFKWHWH VLFK PLWVDPW GHU XUDOWHQ $QODJH

=ZDU JHODQJ HV GHQ )UHXQGHQ GHU =HURWUlXPHULQ LQ OHW]WHU 6HNXQGH LKUHQ .|USHU DXV GHU 6WDWLRQ ]X EHUJHQ XQG DXI GHU 2EHUIOlFKH GHU 6WXUPZHOW LQ 6LFKHUKHLW ]X EULQJHQ GRFK GD LKU %HZXWVHLQ QLFKW ]XUFNNHKUWH NRQQWHQ VLH QXUZDUWHQXQGKRIIHQ (5:$&+(1 6LHHULQQHUWHVLFKGDUDQGDVLHODQJH=HLWLP.UHLVXPKHUJHLUUWZDUDEHUQRFK ZXWHVLHQLFKWZHUVLHZDUZRKHUVLHNDPXQGZRVLHVLFKEHIDQG 'LH6WLPPHGLHOHLVHXQGJHGXOGLJDXIVLHHLQUHGHWHYHUKLQGHUWHMHGRFKGDGHU DQIlQJOLFKH6FKRFNDQGDXHUWH$OOPlKOLFKHQWVSDQQWHXQGEHUXKLJWHVLHVLFKXQG YHUVXFKWHLQGHQDXIVLHHLQGULQJHQGHQ:RUWHQHLQHQ6LQQ]XHUNHQQHQ 6LH YHUVWDQG GD LKU 1DPH $PXQ6LWDL ZDU GD VLH VLFK DQ %RUG GHV =HUR .UHX]HUV *22/$56$1 EHIDQG XQG GD VLH PLW +LOIH HLQHV 3HGRWUDQVPLWWHUV DXI GHQ .UHX]HU ]XUFNJHNHKUW ZDU QDFKGHP VLH UXQG -DKUH 6WDQGDUG]HLW YHUVFKROOHQJHZHVHQZDU -DKUHYHUVFKROOHQ $PXQ6LWDL K|UWH ]ZDU GD GDV 0ROHNXODUJHKLUQ GHU *22/$56$1 LKU GDV VDJWHDEHUVLHEHJULIIHVQLFKWGHQQHVEHUVWLHJLKU9RUVWHOOXQJVYHUP|JHQ 1LHPDQGNRQQWHHLQHVRXQJHKHXHUODQJH=HLWVSDQQHYHUVFKROOHQVHLQXQGGDQQ ZRKOEHKDOWHQZLHGHUDXIWDXFKHQ ³:RZDULFKVRODQJH"IUDJWHVLH ³'DUEHU OLHJW NHLQH NRQNUHWH ,QIRUPDWLRQ YRU HUNOlUWH GDV 0ROHNXODUJHKLUQ ³'LH*22/$56$1EHIDQGVLFKPLWLKUHU%HVDW]XQJLP2UELWXPGHQ]ZHLWHQ 3ODQHWHQ HLQHU JHOEZHLHQ 6RQQH DOV HLQH 5HLKH KHIWLJHU (UVFKWWHUXQJHQ GHU 5DXP=HLW6WUXNWXU HUIROJWH 'X EHIDQGHVW GLFK ]X GLHVHU =HLW LQ HLQHU 3HGR .DSVHOXPGLFKLQHLQH6WDWLRQDXIGHP]ZHLWHQ3ODQHWHQ]XYHUVHW]HQ ³'DVLVWNHLQH$QWZRUWDXIPHLQH)UDJHHQWJHJQHWH$PXQ6LWDLYHUlUJHUW³,FK ZHL GD LFK PLW GHU 3HGR.DSVHO LQ GLH 6WDWLRQ GHV ]ZHLWHQ 3ODQHWHQ HLQGULQJHQZROOWHDEHULFKELQQLHGRUWDQJHNRPPHQ=XPLQGHVWNDQQLFKPLFK QLFKWGDUDQHULQQHUQ ³'X ELVW YRU UXQG ]ZHL 6WXQGHQ LQ GHP SHUPDQHQW DXI (PSIDQJ JHVFKDOWHWHQ 3HGR7UDQVPLWWHU GHV 6FKLIIHV PDWHULDOLVLHUW ² EHZXWORV DOOHUGLQJV HUNOlUWH GDV 0ROHNXODUJHKLUQ ³'DV EHGHXWHW GD GX ]XYRU LQ HLQHQ DXI 6HQGHQ JHVFKDOWHWHQ3HGR7UDQVPLWWHUJLQJVW'LH:DKUVFKHLQOLFKNHLWGDHVVLFKGDEHL XP GHQ 7UDQVPLWWHU GHLQHU 3HGR.DSVHO KDQGHOWH EHWUlJW PHKU DOV QHXQ]LJ 3UR]HQW 6LH ZLUG GDGXUFK HUKlUWHW GD GLH +\SHUVH[WD2UWXQJ GHU *22/$5 6$1 HLQHQ HQWVSUHFKHQGHQ 6HQGHLPSXOV UHJLVWULHUWH GHU YRQ GHP 3ODQHWHQ DXVJLQJGHQGXDXIVXFKHQZROOWHVW $PXQ6LWDLVFKORGLH$XJHQ 'LH (UNOlUXQJHQ GHV 0ROHNXODUJHKLUQV ZDUHQ HLQGHXWLJ XQG OLHHQ QXU GHQ 6FKOX]XGDVLHDXIGHP]ZHLWHQ3ODQHWHQJHZHVHQZDU 'HQQRFKYHUPRFKWHVLHVLFKQLFKWGDUDQ]XHULQQHUQ 'DV VWU]WH VLH LQ WLHIH 9HUZLUUXQJ GHQQ GHU LQ LKUHP *HKLUQ HLQJHEHWWHWH ,QWHUQ.RPSOH[ YHUKLQGHUWH PLW KXQGHUWSUR]HQWLJHU 6LFKHUKHLW GD VLH LUJHQG

HWZDVMHPDOVYHUJD 6RZDUHVMHGHQIDOOVJHZHVHQELVYRU-DKUHQ :DVZDUPLWGHP,QWHUQ.RPSOH[JHVFKHKHQ" (U ZDU QLFKW DXVJHIDOOHQ 'DV HUNDQQWH VLH GDUDQ GD LKUH QLFKW DQJHERUHQH )lKLJNHLWGHVH[WUHPDEVWUDNWORJLVFKHQ'HQNHQVZHLWHUKLQIXQNWLRQLHUWH 'HPQDFKKDQGHOWHHVVLFKXPHLQHQSDUWLHOOHQ)XQNWLRQVDXVIDOO 9LHOOHLFKW KDWWHQ GLH KHIWLJHQ (UVFKWWHUXQJHQ GHU 5DXP=HLW6WUXNWXU YRQ GHQHQ GDV 0ROHNXODUJHKLUQ EHULFKWHWH LKQ YHUXUVDFKW ,KUH $XVZLUNXQJHQ PXWHQXQJHKHXHUYLHOIlOWLJJHZHVHQVHLQ $PXQ6LWDLVHXI]WHXQG|IIQHWHLKUH$XJHQZLHGHU 5LQJVXPZDUQDFKZLHYRUGLH(LQULFKWXQJGHU0HGRVWDWLRQGHV=HUR.UHX]HUV XQG VLH VHOEVW VD XQYHUlQGHUW LQ GHP LKUHQ .|USHUIRUPHQ SHUIHNW DQJHSDWHQ %HKDQGOXQJVVHVVHODOOHUGLQJVRKQHSK\VLNDOLVFKWKHUDSLHUW]XZHUGHQ ³(LQ6SLHJHOIHOGEHIDKOVLH ,P QlFKVWHQ 0RPHQW EDXWH VLFK YRU LKU HLQ DEVRUSWLRQVIUHLHV HQHUJHWLVFKHV 6SLHJHOIHOGDXI 1DFKGHQNOLFK PXVWHUWH $PXQ6LWDL GDV $EELOG GHU KRPLQLGHQ ZHLEOLFKHQ *HVWDOW 6LH ZDU 0HWHU JUR KDWWH KHOOH IDVW ZHLH +DXW EODXVFKZDU]HV PHWDOOLVFK JOlQ]HQGHV HQJ DQOLHJHQGHV .RSIKDDU GDV 2KUHQ XQG 1DFNHQ IUHLOLHHLQVFKPDOHVODQJHV*HVLFKWXQGJROGIDUEHQH$XJHQ 'HU JU|WH 7HLO LKUHV VFKODQNHQ EHWRQW ZHLEOLFK SURSRUWLRQLHUWHQ .|USHUV VWHFNWH DOOHUGLQJV LQ LKUHP ;HQR HLQHU VFKZDU]HQ HQJDQOLHJHQGHQ 6FKXW]NRPELQDWLRQPLWLQWHJULHUWHPhEHUOHEHQVV\VWHP'HU;HQRZDUNHLQWRWHV 0DWHULDO VRQGHUQ HU YHUN|USHUWH V\QWKHWLVFKHV /HEHQ PLW HLJHQHU V\QWKHWLVFKHU ,QWHOOLJHQ]GLHDXIHLQHRSWLPDOH6\PELRVHPLWLKUHU7UlJHULQHLQJHVWHOOWZDU 'D]X JHK|UWH XQWHU DQGHUHP GD GHU ;HQR LKUH SK\VLVFKHQ XQG SV\FKLVFKHQ .UlIWH YHUVWlUNWH XQG VLH QDFK H[WUHPHQ %HDQVSUXFKXQJHQ UHODWLY UDVFK UHJHQHULHUWH 'LH(ULQQHUXQJGDUDQPDFKWH$PXQ6LWDLGLHZDFKVHQGHQ.UlIWHLQLKUEHZXW 6LHHQWVFKLHGGDVLHEHUHLWGDIUZDUGLH,QLWLDWLYH]XHUJUHLIHQDQVWDWWSDVVLY QDFK,QIRUPDWLRQHQ]XVXFKHQ ³:R ZLOOVW GX KLQ" IUDJWH GDV 0ROHNXODUJHKLUQ DOV VLH VLFK DXV LKUHP 6HVVHO HUKRE ³,Q GLH =HQWUDOH DQWZRUWHWH $PXQ6LWDL ³:LOOVW GX YHUVXFKHQ PLU GDV DXV]XUHGHQ" ³1HLQ HUZLGHUWH GDV *HKLUQ ³'X ELVW GLH .RPPDQGDQWLQ GHV 6FKLIIHV ,FK EHUDWH GLFK QXU (V VHL GHQQ GX ZlUHVW QLFKW LQ GHU /DJH GDV 6FKLII ]ZHFNGLHQOLFK]XIKUHQ $PXQ6LWDLVDJWHQLFKWVGD]XREZRKOVLHJDUQLFKWVLFKHUZDUGDVLHGDV6FKLII ZLUNOLFK]ZHFNGLHQOLFK]XIKUHQYHUPRFKWH=XYLHOHVJDEHVZRUDXIVLHNHLQH $QWZRUW ZXWH 6LH NRQQWH QXU KRIIHQ GD VLH GLH $QWZRUWHQ IDQG LQGHP VLH VLFK GHQ 5HDOLWlWHQ VWHOOWH XQG GD GLH :HFKVHOZLUNXQJ PLW LKQHQ LKUH EHJUDEHQHQ(ULQQHUXQJHQZLHGHUEHOHEWH 'LH.RUULGRUHPLWGHQ7UDQVSRUWElQGHUQDXV)RUPHQHUJLHVRZLHGLHYHUWLNDO]X

LKQHQ YHUODXIHQGHQ $QWLJUDYVFKlFKWH GLH VLH QDFK GHP 9HUODVVHQ GHU 0HGRVWDWLRQ YRUIDQG JDEHQ LKU GDV *HIKO VLFK GXUFK HLQH JU|WHQWHLOV YHUWUDXWH8PJHEXQJ]XEHZHJHQ 6LH KDWWH NHLQH 6FKZLHULJNHLWHQ EHL LKUHU %HQXW]XQJ XQG DXFK QLFKW EHL GHU 2ULHQWLHUXQJ LP 6FKLII 'HQQRFK EOLHE HLQ 5HVW YRQ 8QVLFKHUKHLW (V NDP LKU YRUDOVKlWWHQIUKHUDQGHUH9HUKlOWQLVVHDQ%RUGJHKHUUVFKW 9RU-DKUHQ 'LH/l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lPPHU]RQHQ JHLVWHUWHQ 1DFKHLQHUYROOHQ8PGUHKXQJEOLHE$PXQ6LWDLVWHKHQ 6LHPHUNWHGDVLFKLQLKUHP%HZXWVHLQGLH'HILQLWLRQIUGDV(WZDVIRUPHQ ZROOWH LQ GHP GLH *22/$56$1 VLFK EHIDQG 'RFK LKU YHUJHEOLFKHV $XVVFKDXHQQDFKGHP3ODQHWHQYRQGHPVLHJHNRPPHQVHLQVROOWHYHUKLQGHUWH LPPHUZLHGHUGDVLHVLFKDXVUHLFKHQGNRQ]HQWULHUWH ³'DV 6FKLII EHILQGHW VLFK LQ GHU 'DNNDU]RQH HUNOlUWH GDV 0ROHNXODUJHKLUQ XQJHIUDJW ³,FK ZHL HUZLGHUWH $PXQ6LWDL XQJHKDOWHQ ³0LU ILHO QXU GHU %HJULII QLFKW VRIRUW HLQ $EHU QDFKGHP GX PLU VDJWHVW GD GHU 6HQGHLPSXOV PHLQHV 3HGR 7UDQVPLWWHUV YRQ GHU +\SHUVH[WD2UWXQJ UHJLVWULHUW ZRUGHQ ZDU GUlQJWH GLH HQWVSUHFKHQGH(UNHQQWQLVDQGLH2EHUIOlFKHPHLQHV%HZXWVHLQV :HLWHUH%HJULIIHILHOHQLKUZLHGHUHLQ (V VFKLHQ DOV ZlUH GHU 'DPP GHV 9HUJHVVHQV GXUFKOlVVLJHU JHZRUGHQ ZHQQ DXFKNHLQHVZHJVJHERUVWHQ ³:DUXPLVWGDV6FKLIIQLFKWLP1RUPDOUDXP"IUDJWHVLH ³(V EHVWDQG NHLQH 1RWZHQGLJNHLW GD]X LQ GHQ 1RUPDOUDXP EHU]XZHFKVHOQ DQWZRUWHWH GDV 0ROHNXODUJHKLUQ ³'X NHKUWHVW ]XUFN EHYRU LFK HQWVSUHFKHQGH 6FKDOWXQJHQ DNWLYLHUHQ NRQQWH 'D GLH +\SHUVH[WD2UWXQJ DXHUGHP GLH (QHUJLHPXVWHUHLQHV5DXPVFKLIIVEHLP]ZHLWHQ3ODQHWHQUHJLVWULHUWHKLHOWLFKHV IUUDWVDPLQGHU'DNNDU]RQH]XEOHLEHQLQGLHGDVDQGHUH6FKLIIRIIHQEDUQLFKW KLQHLQRUWHQNDQQ)DOOVGXDOOHUGLQJVHLQhEHUZHFKVHOQZQVFKVWYLHOOHLFKWZHLO GX .RQWDNW ]X GHP IUHPGHQ 6FKLII DXIQHKPHQ ZLOOVW ZHUGH LFK GLH HQWVSUHFKHQGHQ6FKDOWXQJHQDNWLYLHUHQ $PXQ6LWDLHUWDSSWHVLFKGDEHLZLHVLHLPSXOVLYEHMDKHQGDXIGDV$QJHERWGHV

0ROHNXODUKLUQV HLQJHKHQ ZROOWH 'DV HUVFKUHFNWH VLH GHQQ VLH KDWWH NHLQH ORJLVFK]ZLQJHQGH1RWZHQGLJNHLW]XHLQHPVROFKHQ6FKULWWJHVHKHQXQGEHJULII GHVKDOEQLFKWLKUH5HDNWLRQ ³1HLQ HQWVFKLHG VLH ³,FK ZQVFKH NHLQHQ .RQWDNW PLW GHP IUHPGHQ 6FKLII 'DVZUGHQXUGLH'XUFKIKUXQJXQVHUHUHLJHQWOLFKHQ$XIJDEHYHU]|JHUQ 6LHVWRFNWHDOVLKUHLQILHOGDVLHGLHVH³HLJHQWOLFKH$XIJDEHEHUKDXSWQLFKW NDQQWHEH]LHKXQJVZHLVHQLFKWPHKUNDQQWH ³:DVLVWHLJHQWOLFKWXQVHUH0LVVLRQ"IUDJWHVLH ³'LH.RPPDQGDQWHQGHU*22/$56$1ZROOWHQGLFKQDFK*UXHOILQEULQJHQ VDJWHGDV0ROHNXODUJHKLUQ ³'LH .RPPDQGDQWHQ" HFKRWH $PXQ6LWDL ³9RUKLQ VDJWHVW GX LFK VHL GLH .RPPDQGDQWLQGLHVHV6FKLIIHV:DVVWLPPWQXQ" ³'XELVWGLH.RPPDQGDQWLQVHLW6LONH0DGG\VRQXQG%UDN6KDQVRQWRWVLQG HUNOlUWHGDV0ROHNXODUJHKLUQ ³6LONH0DGG\VRQXQG%UDN6KDQVRQ"VLQQLHUWH$PXQ6LWDLXQGODXVFKWHLQVLFK KLQHLQ³,FKHULQQHUHPLFKQLFKWDQVLH:HUZDUHQVLHXQGZHVKDOEVLQGVLHWRW" ³6LH ZDUHQ %HDXIWUDJWH GHV ,3& DQWZRUWHWH GDV 0ROHNXODUJHKLUQ GLHVPDO ]|JHUHQG ZLH HV $PXQ6LWDL VFKLHQ ³*HPHLQVDP PLW GHQ 7UXQK XQG %DNWHQ GLHVHU0LVVLRQZROOWHQVLHGLFKLQGLH*DOD[LV*UXHOILQEULQJHQ6LONH0DGG\VRQ XQG%UDN6KDQVRQVWDUEHQDOVLKUHQDWUOLFKH/HEHQVVSDQQHDEJHODXIHQZDUGLH ZHLWXQWHU-DKUHQODJ ³6LHEHVDHQNHLQH;HQRV"HQWIXKUHV$PXQ6LWDL ³'DVLVWULFKWLJEHVWlWLJWHGDV0ROHNXODUJHKLUQ ³8QG GLH 7UXQK XQG %DNWHQ" VWLH $PXQ6LWDL QDFK ³:DUHQ VLH DXFK %HDXIWUDJWHGHV,3&":DVKHLWEHUKDXSW,3&"8QGVWDUEHQVLHDXFK" 'HU %LOGVFKLUP HLQHV &RPSXWHU7HUPLQDOV OHXFKWHWH DXI XQG ]HLJWH HLQH 8QPHQJH JHVSHQVWLVFK DQPXWHQGHU ULHVLJHU 6SLQQHQQHW]H GLH VLOEULJ JOLW]HUQG GLH=ZLVFKHQUlXPHLUJHQZHOFKHU$JJUHJDWHEHUEUFNWHQ ³'LH7UXQKVLQGELRORJLVFKH*HVSLQVWHJURHUUlXPOLFKHU$XVGHKQXQJHUNOlUWH GDV 0ROHNXODUJHKLUQ ³6LH KDEHQ HLQH H[WUHP VWDUNH +\SHUVH[WD 0RGXOSDUVWUDKOXQJ XQG VLQG DXI .\EHUQHWLN VSH]LDOLVLHUW 1HZ /HWKRV &HQWHU VWHOOW ,3&.XQGVFKDIWHUQ PDQFKPDO HLQHQ 7UXQK ]XU 9HUIJXQJ ZHQQ HLQH EHVRQGHUVVFKZLHULJH0LVVLRQYRUOLHJW (LQ]ZHLWHU%LOGVFKLUPOHXFKWHWHDXI(U]HLJWHHLQH%DOOXQJKDQGJURHUURWXQG VFKZDU]JHIlUEWHUVSLQQHQDUWLJHU:HVHQGLHKXUWLJGXUFKHLQDQGHUZLPPHOWHQ ³'LH %DNWHQ VLQG DXI *HQWHFKQRORJLH VSH]LDOLVLHUWH :HVHQ GLH QRUPDOHUZHLVH HLQSDUDVLWLVFKHV/HEHQLP,QQHUQGHUYRQLKQHQJH]FKWHWHQ3HGRSRUWHUIKUHQ XQGVLFKJHQWHFKQLVFKLPPHUZLHGHUQHXH+LOIVNUlIWHKHUDQ]FKWHQ6LHZHUGHQ PHLVW]XVDPPHQPLW7UXQKHLQJHVHW]WGDHVNDXP$XIJDEHQJLEWGLHVLHQLFKW JHPHLQVDPO|VHQN|QQWHQ 7UXQK XQG %DNWHQ VLQG NHLQH %HDXIWUDJWHQ GHV ,3& VRQGHUQ +HOIHU YRQ ,3& %HDXIWUDJWHQ ,3& KHLW ,QWHUJDODFWLF 3HDFH &RUSV 'LH 7UXQK XQG %DNWHQ DXI GHU*22/$56$1NDPHQGXUFKGLH5DXP=HLW(UVFKWWHUXQJHQXP (LQH JDQ]H :HLOH VFKZLHJ $PXQ6LWDL GDQQ JLQJ VLH ]XP 6FKDOWSXOW GHV

.RPPDQGDQWHQ XQG VHW]WH VLFK LQ HLQHQ GHU EHLGHQ GDYRUVWHKHQGHQ .RQWXUVHVVHO ³'HPQDFKKDEHLFKDOOHLQEHUOHEWVWHOOWHVLHIHVW³:DUXP" ³'X PXWHVW GHQ =HUR.UHX]HU VFKRQ YHUODVVHQ KDEHQ DOV GLH 5DXP=HLW (UVFKWWHUXQJHQDXIWUDWHQDQWZRUWHWHGDV0ROHNXODUJHKLUQ³8QGZlKUHQGGHU IROJHQGHQ-DKUHZDUVWGXRIIHQEDUDQHLQHPEHVRQGHUVJXWJHVFKW]WHQ2UW :DVLP*UXQGHORJLVFKLVW ³:DUXP"ZROOWH$PXQ6LWDLZLVVHQ³:DUXPLVWGDVVRORJLVFK" ³'LHVH,QIRUPDWLRQLVWJHVLFKHUWHUZLGHUWHGDV0ROHNXODUJHKLUQ ³*HVLFKHUWJHVLFKHUWZLHGHUKROWH$PXQ6LWDLDXIJHEUDFKW³:DVEHGHXWHWGDV" 'D LFK GLH .RPPDQGDQWLQ ELQ VLQG PLU DOOH ,QIRUPDWLRQHQ ]XJlQJOLFK ]X PDFKHQ ³'X ELVW GLH .RPPDQGDQWLQ EHVWlWLJWH GDV 0ROHNXODUJHKLUQ ³$EHU HLQH JHZLVVH $XVZDKO DQ ,QIRUPDWLRQHQ GDUI QXU HLQHU 3HUVRQ ]XJlQJOLFK JHPDFKW ZHUGHQGLHVRZRKODOV.RPPDQGDQWLQDXWRULVLHUWLVWDOVDXFKHLQGHXWLJDOV,3& %HDXIWUDJWHLGHQWLIL]LHUWZHUGHQNDQQ ³,FK ELQ GHPQDFK NHLQH %HDXIWUDJWH GHV ,3&" ZROOWH HV $PXQ6LWDL JHQDX ZLVVHQ ³$PXQ6LWDL ZXUGH YRQ 6LONH 0DGG\VRQ XQG %UDN6KDQVRQLQGHQ5DQJHLQHU %HDXIWUDJWHQ GHV ,3& HUKREHQ HUNOlUWH GDV 0ROHNXODUJHKLUQ ³,KUH XQYHUZHFKVHOEDUH 0LWRVHVWUDKOXQJ ZXUGH ]ZHFNV ,GHQWLILNDWLRQ LQ PLFK HLQJHVSHLFKHUW 'LHVH 'DWHQ VLQG XQYHUlQGHUW JHEOLHEHQ DEHU GHLQH 0LWRVHVWUDKOXQJZHLFKWYRQLKQHQDEZHQQDXFKQXUPLQLPDOXQGXQSHULRGLVFK NXU]]HLWLJ $PXQ6LWDLVFKORGLH$XJHQZHLOHVLKUSO|W]OLFKVFKZLQGOLJZXUGHGRFKVLH |IIQHWHVLHJOHLFKZLHGHU ³:DVEHGHXWHWGHLQHOHW]WH$XVVDJHLP.ODUWH[W"IUDJWHVLH ³'DGXLGHQWLVFKPLW$PXQ6LWDLELVWDQWZRUWHWHGDV0ROHNXODUJHKLUQ³'DV UHLFKWDXVXPGLFKDOV.RPPDQGDQWLQDQ]XHUNHQQHQDEHUHVIHKOWGLHDOOHUOHW]WH 6LFKHUKHLW GLH JHJHEHQ VHLQ PX XP GLU EHVRQGHUV JHVLFKHUWH ,QIRUPDWLRQHQ ]XJlQJOLFK]XPDFKHQ ³,FKYHUVWHKHVDJWH$PXQ6LWDLOHLVH³0LWJURHU:DKUVFKHLQOLFKNHLWELQLFK $PXQ6LWDLDEHUQLFKWPLWOHW]WHU6LFKHUKHLW :DV EHGHXWHW GDV" IUDJWH VLH VLFK :XUGH LQ GHU 6WDWLRQ DXI GHP P\VWHUL|VHQ ]ZHLWHQ 3ODQHWHQ HLQH 1DFKELOGXQJ YRQ GHU HFKWHQ $PXQ6LWDL DQJHIHUWLJW XQG ]XUFNJHVFKLFNW"%LQLFKHWZDQXUHLQH.RSLHGLHVLFKHLQELOGHWGDV2ULJLQDO]X VHLQ" /DXWIUDJWHVLH ³,VW XQVHU =LHO LPPHU QRFK GLH *DOD[LV *UXHOILQ XQG ZLH NRPPHQ ZLU GRUWKLQ" ³8QVHU =LHO LVW XQYHUlQGHUW HUNOlUWH GDV 0ROHNXODUJHKLUQ ³:LU HUUHLFKHQ HV PLW]ZHL'DNNDUUDXPHWDSSHQ]ZLVFKHQGHQHQGHU'XUFKJDQJGXUFKGDV0LGDV 7RUHUIROJWGDV=HUR.UHX]HUQZLHGHU*22/$56$1GDVhEHUZHFKVHOQYRQ HLQHP 8QLYHUVXP LQV DQGHUH HUP|JOLFKW ² H[DNW JHVDJW YRP 8QLYHUVXP

7DUNDQLQV6WDQGDUGXQLYHUVXP $PXQ6LWDLHUZLGHUWHQLFKWVGDUDXIZHLOVLHPHUNWHGDLKUH*HGlFKWQLVOFNHQ VLH DP YROOHQ 9HUVWlQGQLV GHV *HVDJWHQ KLQGHUWHQ 6LH EHVFKOR HUVW HLQPDO DE]XZDUWHQXQGGDV.RPPHQGHEHUVLFKHUJHKHQ]XODVVHQ 9LHOOHLFKWGDVLFKGDQQGDVYHUORUHQH:LVVHQZLHGHUHLQVWHOOWH 67(51(1725 :lKUHQG GLH *22/$56$1 PLW YLHOIDFKHU hEHUOLFKWJHVFKZLQGLJNHLW GXUFK GHQ'DNNDUUDXPUDVWHZDVVRZRKOGLH.RQWUROOHQGHU6FKLIIV]HQWUDOHDQ]HLJWHQ DOVDXFKGDV0ROHNXODUJHKLUQDXVVDJWHYHUKLHOW$PXQ6LWDLVLFKZHLWHUKLQVWLOO ,KU ZXUGH LPPHU VWlUNHU EHZXW GD LKU HLJHQWOLFK QLFKWV EHU LKUH +HUNXQIW EHNDQQW ZDU 6LH ZXWH LP *UXQGH JHQRPPHQ QXU GD VLH HLQ KRPLQLGHV LQWHOOLJHQWHV /HEHZHVHQ ZDU GDV VLFK YRQ YLHOHQ DQGHUHQ LQWHOOLJHQWHQ /HEHZHVHQGXUFKPHKUHUH%HVRQGHUKHLWHQXQWHUVFKLHG (UVWHQVGXUFKGHQLQLKUHP*URKLUQHLQJHEHWWHWHQ,QWHUQ.RPSOH[YRQGHPVLH ZXWH GD HU DXV KRFKYHUGLFKWHWHU VHFKVGLPHQVLRQDO VFKZLQJHQGHU =HOOVXEVWDQ]PLWK\SHUVFKZHUHQ$WRPNHUQHQEHVWDQGXQGLKUGLH)lKLJNHLWGHV DEVWUDNWORJLVFKHQ'HQNHQVLQH[WUHPHP0DHUP|JOLFKWH2EZRKOGHU,QWHUQ .RPSOH[ QLFKW VR XPIDVVHQG IXQNWLRQLHUWH ZLH HU VROOWH YHUPLWWHOWH HU LKU GLH *HZLKHLWGDHUQDKH]XHLQPDOLJZDU =ZHLWHQV GXUFK LKUH ;HQR.RPELQDWLRQ GLH VLH QLFKW QXU YRU IHLQGOLFKHQ 8PZHOWHLQIOVVHQ VFKW]WH VRQGHUQ DXFK PLW H[WUHPHU 5HJHQHUDWLRQVIlKLJNHLW DXVVWDWWHWHXQGLKUHQ$OWHUXQJVSUR]HVWDUNYHU]|JHUWH :HOFKH 8QWHUVFKLHGH ]X DQGHUHQ ,QWHOOLJHQ]HQ HV QRFK JHEHQ PRFKWH ZDU LKU QLFKWNODU'RFKVLHDKQWH]XPLQGHVWGDVLHIUGDV,QWHUJDODFWLF3HDFH&RUSV YRQ JURHU :LFKWLJNHLW JHZHVHQ ZDU 'DV OLH VLFK GDUDXV VFKOLHHQ GD GLH ,3&%HDXIWUDJWHQ 6LONH 0DGG\VRQ XQG %UDN 6KDQVRQ VLH LQ GHQ 5DQJ HLQHU %HDXIWUDJWHQGHV,3&HUKREHQKDWWHQZlKUHQGVLHPLWLKULQGHU*22/$56$1 QDFK*UXHOILQXQWHUZHJVJHZHVHQZDUHQ (UKl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hEHUOHJXQJHQ IKUWHQ ]X QLFKWV ZDV LKU HLQHQ $QKDOWVSXQNW EHULKUH+HUNXQIWJDE6LHVFKLHQDXVGHP1LFKWVJHNRPPHQ]XVHLQYRQ]ZHL ,3&%HDXIWUDJWHQ DXIJHILVFKW XQG PLWJHQRPPHQ LQ HLQH *DOD[LV QDPHQV *UXHOILQLQGHUVLHQLHPDOVDQJHNRPPHQZDU 6WDWWGHVVHQKDWWHVLH-DKUHYHUORUHQZDUHQ6LONH0DGG\VRQ%UDN6KDQVRQ

VRZLH GLH 7UXQK XQG %DNWHQ JHVWRUEHQ XQG QXU GLH *22/$56$1 XQG GDV 0ROHNXODUJHKLUQZDUHQDXHULKUEULJJHEOLHEHQ 8QGQXQEHIDQGHQVLHVLFKDXIGHP:HJ]XHLQHP=LHOGDV0LGDV7RUKLHXQG GDVhEHUZHFKVHOQYRQHLQHP8QLYHUVXPLQVDQGHUHHUP|JOLFKHQVROOWH 9RP8QLYHUVXP7DUNDQLQV6WDQGDUGXQLYHUVXP 'D PLW GHP 6WDQGDUGXQLYHUVXP QXU GDV HLJHQH YHUWUDXWH 8QLYHUVXP JHPHLQW VHLQNRQQWHPXWHGDV8QLYHUVXP7DUNDQHLQIUHPGHV8QLYHUVXPVHLQ (LQ3DUDOOHOXQLYHUVXP" 2GHUHLQHQHUJHWLVFK³EHQDFKEDUWHVXQGVRPLWVRQDKHYHUZDQGWHV8QLYHUVXP GD HLQ 0DVVHDXVWDXVFK ]ZLVFKHQ LKP XQG GHP 6WDQGDUGXQLYHUVXP P|JOLFK ZDU" $PXQ6LWDLHUNDQQWHGDVLHEHUNRVPLVFKH=XVDPPHQKlQJH%HVFKHLGZXWH VRQVWKlWWHVLHGLHVHhEHUOHJXQJHQQLFKWDQVWHOOHQN|QQHQ'HQQRFKO|VWHGDVLKU +DXSWSUREOHPQLFKW 'DV 0ROHNXODUJHKLUQ VROOWH LKU GLH EUHQQHQGHQ )UDJHQ HLJHQWOLFK EHDQWZRUWHQ N|QQHQ 'RFK $PXQ6LWDL DKQWH ZLH HV DXI GLH HQWVSUHFKHQGH $XIIRUGHUXQJ UHDJLHUHQZUGH 6LHVSUDFKVLHGHQQRFKDXV ³'LHVH ,QIRUPDWLRQHQ VLQG JHVLFKHUW HUNOlUWH GDV 0ROHNXODUJHKLUQ HUZDUWXQJVJHPl ³2KQHVLHZHUGHLFKGLUNHLQHJURH+LOIHVHLQN|QQHQHUZLGHUWH$PXQ6LWDL YHUELWWHUW ³,FK EUDXFKH GHLQH +LOIH QLFKW GHQQ HV JHKW QXU XP GLH 5FNNHKU LQV 6WDQGDUGXQLYHUVXP XQG QDFK *UXHOILQ ² XQG GDUDXI ELQ LFK RSWLPDO SURJUDPPLHUWVWHOOWHGDV0ROHNXODUJHKLUQIHVW :HQLJH 0LQXWHQ VSlWHU ZHFKVHOWH GLH *22/$56$1 YRQ GHU +\SHUVH[WD +DOEVSXULQGDVJHZ|KQOLFKHYLHUGLPHQVLRQDOH5DXP=HLW.RQWLQXXP 6FKODJDUWLJ YHUVFKZDQGHQ GLH JUDXHQ 6FKDWWHQ DXV GHQ %LOGVFKLUPVHJPHQWHQ GHU5XQGXPEHREDFKWXQJ 8QG PDFKWHQ GHQ SXQNWI|UPLJHQ 0XVWHUQ NULVWDOONODU OHXFKWHQGHU 6WHUQH DXI HLQHPVDPWVFKZDU]HQ+LQWHUJUXQG3ODW] ³:LUEHILQGHQXQVPLWWHQLQHLQHU*DOD[LVVWHOOWH$PXQ6LWDLVDFKNXQGLJIHVW ³:HOFKHLVWHV" ³(VKDQGHOWVLFKXPGLH*DOD[LV+DQJD\LP8QLYHUVXP7DUNDQDQWZRUWHWHGDV 0ROHNXODUJHKLUQ ³:HQLJH /LFKWVHNXQGHQ YRUDXV EHILQGHW VLFK GDV 0LGDV7RU HLQ SUlSDULHUWHV %ODFN +ROH GDV YRQ =HUR.UHX]HUQ PLW LKUHU VSH]LHOOHQ $XVUVWXQJ DOV 7XQQHO GXUFK 5DXP XQG =HLW XQG PDQFKPDO ZLH KLHU DOV hEHUJDQJYRQHLQHP8QLYHUVXP]XPDQGHUHQEHQXW]WZHUGHQNDQQ ³(LQ%ODFN+ROHZLHGHUKROWH$PXQ6LWDLHUUHJW³-HGHV8QLYHUVXPLVWDEVROXW EHWUDFKWHW HLQH $UW YRQ %ODFN +ROH 1HLQ VDJWH VLH DOV LPPHU PHKU (ULQQHUXQJHQ NDPHQ ³8QLYHUVHQ OLHJHQ VR]XVDJHQ KLQWHU GHQ (UHLJQLVKRUL]RQWHQ YRQ 6XSHU%ODFN +ROHV GLH VLH VRZRKO JHJHQEHU DQGHUHQ 8QLYHUVHQ LVROLHUHQ DOV DXFK VLH YRU GHQ FKDRWLVFKHQ LQWHUXQLYHUVHOOHQ 9HUKlOWQLVVHQVFKW]HQ0DQEH]HLFKQHWGLHVH6XSHU%ODFN+ROHVDXFKDOV7LHIH

DOV3KlQRPHQHGLHGLH8QLYHUVHQXPJHEHQ ³'XVFKHLQVWVHKUYLHOGDUEHU]XZLVVHQPHLQWHGDV0ROHNXODUJHKLUQ³,Q1HZ /HWKRV &HQWHU ZLUG PDQ GLFK DOV KRFKZLOONRPPHQH QHXH 0LWDUEHLWHULQ EHJUHQ ³2EZRKOLFKQLFKWHLQGHXWLJLGHQWLIL]LHUWZHUGHQNDQQXQGGHVKDOEDXFKNHLQHQ =XJDQJ]XJHVLFKHUWHQ,QIRUPDWLRQHQKDEH"IUDJWH$PXQ6LWDLELWWHU ³,Q1HZ/HWKRV&HQWHUZLUGGDVDQGHUVVHLQJDEGDV0ROHNXODUJHKLUQ]XUFN ³'RUWNDQQPDQ(QWVFKHLGXQJHQWUHIIHQ]XGHQHQLFKQLFKWDXWRULVLHUWELQ ³,FK YHUVWHKH VDJWH $PXQ6LWDL XQG HUKRE VLFK XP QlKHU DQ GLH 'DWHQVLFKWVFKLUPH KHUDQ]XJHKHQ GLH VRHEHQ PLW HLQHU )OOH YRQ 'DWHQ GLH UDVFKH$QQlKHUXQJDQHLQ%ODFN+ROHDQ]HLJWHQGDVRSWLVFKQLFKWHUIDWZHUGHQ NRQQWH GD HV NHLQHQ %HJOHLWHU EHVD ³'HLQH 3URJUDPPLHUXQJ VLHKW VROFKH (QWVFKHLGXQJHQQLFKWYRU ³'DVWULIIW]XHUZLGHUWHGDV0ROHNXODUJHKLUQ³$EHUGXVROOWHVWGLFKVHW]HQXQG DQVFKQDOOHQ GHQQ WURW] DOOHU +LOIVPLWWHO HLQHV =HUR.UHX]HUV NDQQ HV EHLP (LQWDXFKHQLQV$XJHHLQHVURWLHUHQGHQ%ODFN+ROHVGXUFKGLH*H]HLWHQNUlIWH]X VWDUNHQ9LEUDWLRQHQNRPPHQ 6FKZHLJHQG VHW]H VLFK $PXQ6LWDL ZLHGHU XQG VFKQDOOWH VLFK DQ 6LH ZXWH ZHOFKHYHUKHHUHQGHQ:LUNXQJHQGLHXQJHKHXHUOLFKHQHQHUJHWLVFKHQ0DKOVWU|PH GHU *H]HLWHQNUlIWH HLQHV %ODFN +ROHV DXI HLQ 5DXPVFKLII KDEHQ NRQQWHQ GDV VLFKGLHVHQ.UlIWHQDXVVHW]WH *DQ] GDYRQ DEJHVHKHQ GD GDV $XJH HLQHV %ODFN +ROHV NHLQH ]ZHLGLPHQVLRQDOH )OlFKH ZDU GLH EOLW]VFKQHOO GXUFKVWRHQ ZXUGH VRQGHUQ HLQ [GLPHQVLRQDOHUUDVHQGURWLHUHQGHU7XQQHOGHUVLFKRIWZXUPDUWLJNUPPWHXQG ZDQG XQG GDGXUFK MHGHQ )UHPGN|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³'DV %ODFN +ROH KDW VLFK JUXQGOHJHQG YHUlQGHUW (V HUP|JOLFKW NHLQHQ hEHUJDQJ YRQ HLQHP 8QLYHUVXP ]XP DQGHUHQ PHKU 'DV EHGHXWHW ZLU VLQG LQ 7DUNDQJHIDQJHQ ³2GHU ZLU EHIDQGHQ XQV OlQJVW QLFKW PHKU LQ 7DUNDQ HQWJHJQHWH $PXQ6LWDL WRQORV ³.XU] YRU GHP (LQWDXFKHQ LQV $XJH GHV %ODFN +ROHV ZDU IU HLQH ZLQ]LJH =HLWVSDQQH HLQ hEHUEOLFN EHU GDV JDQ]H 6SHNWUXP GHV XQLYHUVHOOHQ (QHUJLHPXVWHUVP|JOLFK²XQGGDV(UJHEQLVHQWVSUDFKGHQ'DWHQGLHLFKEHU

GDV(QHUJLHPXVWHUGHV6WDQGDUGXQLYHUVXPVLQ(ULQQHUXQJKDEH ³,QGHLQHU(ULQQHUXQJRGHUJHVSHLFKHUWLQGHLQHP,QWHUQ.RPSOH["HUNXQGLJWH VLFKGDV0ROHNXODUJHKLUQ ³,QPHLQHU(ULQQHUXQJDQWZRUWHWH$PXQ6LWDL ³'DQQ EHIDQGHQ ZLU XQV WDWVlFKOLFK OlQJVW QLFKW PHKU LQ 7DUNDQ NRQVWDWLHUWH GDV 0ROHNXODUJHKLUQ ³*HQDX JHVDJW VHLW UXQG -DKUHQ QLFKW PHKU 'LH GDPDOLJHQ (UVFKWWHUXQJHQ GHU UDXP]HLWOLFKHQ 6WUXNWXUHQ ZDUHQ GHPQDFK %HJOHLWHUVFKHLQXQJHQ GHV hEHUJDQJV GHU *DOD[LV +DQJD\ DXV 7DUNDQ LQV 6WDQGDUGXQLYHUVXP 'DV EHGHXWHW GD GDV 0LGDV7RU QLFKW PHKU DOV 9HUELQGXQJ ]ZLVFKHQ ]ZHL 8QLYHUVHQ GLHQW VRQGHUQ DOV .XU]VFKOX YHUELQGXQJ ]ZLVFKHQ]ZHL3XQNWHQGHV6WDQGDUGXQLYHUVXPV ³$EHU GX KDVW NHLQH .RQWUROOH GDUEHU ZHLO GLH HQWVSUHFKHQGHQ 6\VWHPH GHU *22/$56$1 DXI HLQHQ hEHUJDQJ ]ZLVFKHQ ]ZHL 8QLYHUVHQ JHVFKDOWHW ZDUHQVDJWH$PXQ6LWDL ³'DVLVWULFKWLJJDEGDV0ROHNXODUJHKLUQ]X³$EHUVREDOGZLUGHQ'XUFKJDQJ JHVFKDIIW KDEHQ ZHUGH LFK IHVWVWHOOHQ N|QQHQ ZR LQ XQVHUHP 8QLYHUVXP ZLU XQVEHILQGHQ ³8QGZDQQHUJlQ]WH$PXQ6LWDLWURFNHQ 683(5&21752/ 'LH 9LEUDWLRQHQ ZXUGHQ VWlUNHU 'HU =HUR.UHX]HU VW|KQWH XQG lFK]WH ZLH HLQ W|GOLFK YHUZXQGHWHV :HVHQ 6HLQH =HOOHQYHUELQGXQJHQ VFKLHQHQ EUHFKHQ ]X ZROOHQ $PXQ6LWDLZXUGHPLWVDPWLKUHP.RQWXUVHVVHOGHUPDHQGXUFKJHUWWHOWGDVLH GDV *HIKO KDWWH HLQJHVWDPSIW ]X ZHUGHQ 'HQQRFK EUDFKWH VLH HV IHUWLJ GLH ZLFKWLJVWHQ GHU EHU GLH 'DWHQVFKLUPH MDJHQGHQ $QJDEHQ ]X OHVHQ XQG ]X YHUVWHKHQ 6LHEHJULIIQDFKXQGQDFKGDGDV0LGDV7RUVLFKWLHIJUHLIHQGYHUlQGHUWKDWWH VHLWHVQLFKWPHKUDOV9HUELQGXQJ]ZLVFKHQ7DUNDQXQGGHP6WDQGDUGXQLYHUVXP IQJLHUWH²XQG]XPHUVWHQPDOZXUGHVLHYRQ)XUFKWHUJULIIHQ :LH ZHQQ GDV 0LGDV7RU QDFK VHLQHU 9HUVHW]XQJ ]XVDPPHQ PLW GHU *DOD[LV +DQJD\QRFKNHLQHQ$QVFKOXDQHLQDQGHUHV%ODFN+ROHJHIXQGHQKDWWH" :UGHHVGDQQQLFKWDOOH)UHPGPDWHULHGLHGXUFKVHLQHURWLHUHQGH1DEHVWU]WH LQVDEVROXWH1LFKWVVFKOHXGHUQDQVWDWWVLHLQGHQ1RUPDOUDXP]XUFN]XWUDQVIH ULHUHQ" $PXQ6LWDLV %OLFN YHUVFKOHLHUWH VLFK DOV GLH 9LEUDWLRQHQ XQHUWUlJOLFK ZXUGHQ 6LH KDWWH GDV *HIKO DOV ZUGH LKU .|USHU LQ GLH /lQJH JH]RJHQ ]X HLQHP PROHNXODUHQ %UHL ]HUPDKOHQ XQG DQVFKOLHHQG DOV 7HLOFKHQVWUDKO LQV 1LFKWV DEJHVWRHQ 'DQQ HPSIDQG VLH QLFKWV PHKU $XFK GLH )XUFKW ILHO YRQ LKU DE $OOH LKUH :DKUQHKPXQJHQHUORVFKHQ ,UJHQGZDQQ VHW]WHQ LKUH (PSILQGXQJHQ ZLHGHU HLQ $PXQ6LWDL VSUWH GD VLH QRFK H[LVWLHUWH ,KUH +lQGH IKOWHQ GXUFK GLH PLW 6HQVR5H]HSWRUHQ DXVJHVWDWWHWHQ +DQGVFKXKH LKUHV ;HQRV GLH NKOH *OlWWH GHU $UPOHKQHQ LKUHV

.RQWXUVHVVHOV $OV VLH GLH $XJHQ |IIQHWH VDK VLH LP VFKZDFKHQ U|WOLFKHQ *OKHQ GHU 1RWEHOHXFKWXQJGLHGXQNOHQ8PULVVHGHU6FKDOWSXOWHLQQHUKDOEGHU=HQWUDOHGHV =HUR.UHX]HUV XQG GLH VFKZDU]HQ )Ol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² XQG SO|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|USHU2UJDQHHQWQRPPHQXQGGXUFKDQGHUH 2UJDQH HUVHW]W ZXUGHQ GLH LP $XVVHKHQ GHQ 2ULJLQDOHQ JOHLFK ZDUHQ DEHU LUJHQGZLH DQGHUV IXQNWLRQLHUWHQ =XOHW]W ZXUGH LKU .|USHU LQ HLQH IHXFKWH ZDUPHSXOVLHUHQGH)ROLHHLQJHVFKODJHQGLHVLH]XHUVWLFNHQVFKLHQ $PXQ6LWDL VFKULH HQWVHW]W DXI ² XQG YHUORU GHQ JHLVWLJHQ .RQWDNW PLW GHP HQHUJHWLVFKHQ1HW] 6FKZHU DWPHQG ODJ VLH LQ LKUHP .RQWXUVHVVHO 9HUVFKZXQGHQ ZDUHQ GLH XQGHXWOLFKHQ *HVWDOWHQ GHU 'URLGHQ XQG GLH V\QWURQLVFKH $SSDUDWXU 'RFK GLH (ULQQHUXQJ DQ GDV ZDV $PXQ6LWDL PLW LKUHP LQQHUHQ $XJH ³JHVHKHQ KDWWH OLHVLFKQLFKWDXVO|VFKHQ $OV GDV (QWVHW]HQ DENODQJ EHWDVWHWH $PXQ6LWDL QDFK XQG QDFK LKUHQ JDQ]HQ .|USHU QDFK 9HUlQGHUXQJHQ VXFKHQG 'RFK VLH IDQG NHLQH (UOHLFKWHUW NRQVWDWLHUWH VLH GD VLH XQYHUVHKUW JHEOLHEHQ ZDU 9LHOOHLFKW KDWWH VLH QXU VFKOHFKWJHWUlXPW ,QHLQHPKLQWHUHQ:LQNHOLKUHV%HZXWVHLQVEOLHEMHGRFKGLH$KQXQJGDGDV DOOHVNHLQ7UDXPJHZHVHQZDUVRQGHUQGLH(ULQQHUXQJDQHWZDVGDVLKUIUKHU HLQPDOYRQIUHPGHQ:HVHQDQJHWDQZRUGHQZDU ³9RQ&DQWDUR $PXQ6LWDL KDWWH HV KHUDXVJHVFKULHQ RKQH HV ]X ZROOHQ 'LH SO|W]OLFKH (LQJHEXQJZDU]XVWDUNJHZHVHQXPGHQ6FKUHL]XUFNKDOWHQ]XN|QQHQ ³:DV ZHLW GX YRQ GHQ &DQWDUR .RPPDQGDQWLQ" KDOOWH GLH )UDJH GHV 0ROHNXODUJHKLUQVGXUFKGLH=HQWUDOHGHU*22/$56$1

³6RJXWZLHQLFKWVHUZLGHUWH$PXQ6LWDL³.DQQVWGXPLUPHKUVDJHQ" ³'DV GDUI LFK QLFKW JDE GDV 0ROHNXODUJHKLUQ ]XUFN ³1LFKW EHYRU GX DOOH GHLQH(ULQQHUXQJHQDQGLHVH=HLWVSDQQHGHLQHV/HEHQVZLHGHUJHZRQQHQKDVW ³$EHUZLHVROOLFKGDVN|QQHQZHQQPLUQLHPDQGGDEHLKLOIW"ULHI$PXQ6LWDL ]RUQLJ ³,Q1HZ/HWKRV&HQWHUZLUGPDQGLUKHOIHQHUNOlUWHGDV0ROHNXODUJHKLUQ ³:HQQZLUMHPDOVQDFK1HZ/HWKRV&HQWHUNRPPHQJDE$PXQ6LWDLLURQLVFK ]XUFN ,P QlFKVWHQ 0RPHQW KLHOW VLH GHQ $WHP DQ GHQQ GD EDUVW GLH DEJUXQGWLHIH )LQVWHUQLV ULQJV XP GLH *22/$56$1 ² XQG KRFK EHU GHP 6FKLII ELOGHWH VLFKHLQH$UWVFKZDU]HU7ULFKWHULQGHVVHQ0LWWHHLQOHXFKWHQGHU0DKOVWURPDXV KRFKYHUGLFKWHWHQ.RUSXVNHKOZLUEHOWH (LQH XQVLFKWEDUH .UDIW SDFNWH GHQ =HUR.UHX]HU XQG UL LKQ LQ GHQ 0DKOVWURP KLQHLQ ³'LH *H]HLWHQNUlIWH GHV %ODFN +ROHV ZHUGHQ XQV GLHVPDO ]HUUHLHQ VWLH $PXQ6LWDLYHU]ZHLIHOWKHUYRU ,PDOOHUOHW]WHQ0RPHQWZXUGHLP=HQWUXPGHV0DKOVWURPVHLQVFKZDU]HU)OHFN HUNHQQEDU(UYHUJU|HUWHVLFKLQGHP0DZLHGDV6FKLIIVLFKLKPQlKHUWHXQG HQWSXSSWH VLFK VFKOLHOLFK DOV 0QGXQJ HLQHU VFKZDU]HQ VLFK ZXUPDUWLJ ZLQGHQGHQ5|KUH 'LH*22/$56$1ZXUGHYRQGHU5|KUHDXIJHVRJHQGXUFKVLHKLQGXUFKJHMDJW LQHLQ1LFKWVDXVJHVSLHQXQGDEHUPDOVGXUFKHLQDQGHUHV%ODFN+ROHWUDQVIHULHUW 'DV8QLYHUVXPVFKLHQ]XH[SORGLHUHQDOVVLHGLHVPDODXVJHVWRHQZXUGH 'RFK GDQQ EHUXKLJWH XQG QRUPDOLVLHUWH VLFK DOOHV ZLHGHU XQG $PXQ6LWDL HUNDQQWH DXI GHQ %LOGVFKLUPHQ GHU $XHQEHREDFKWXQJ VRZLH DQ GHQ $Q]HLJHQ GHU'DWHQVLFKWVFKLUPHGDGHU=HUR.UHX]HUKRFKEHUGHUZLUEHOQGHQGXQNOHQ 7LHIH HLQHV H[WUHP JURHQ %ODFN +ROHV LQ GHQ VRJHQDQQWHQ 1RUPDOUDXP ]XUFNJHNHKUWZDU 0LWWHQ ]ZLVFKHQ GHQ 6WHUQHQ XQG 6WDXEQHEHOQ HLQHU *DOD[LV XQG LQ GHU 1lKH HLQHU UHJHOPlLJHQ $QVDPPOXQJ YRQ PLQGHVWHQV KXQGHUW 6RQQHQ GLH HLQH NUHLVI|UPLJH$QRUGQXQJXPGDVULHVLJH%ODFN+ROH]XELOGHQVFKLHQHQ :lKUHQGGHUHUVWHQ6HNXQGHQLQGHQHQ$PXQ6LWDLGHQ$QEOLFNGHVVFKHLQEDU ELVLQGLH8QHQGOLFKNHLWKLQDEUHLFKHQGHQ$EJUXQGVGHV%ODFN+ROHVXQWHUGHP 6FKLIIDXIVLFKHLQZLUNHQOLHKDWWHVLHGDV*HIKOGHU=HUR.UHX]HUZUGHLQ GHQZLUEHOQGHQ6FKOXQG]XUFNVWU]HQXQGGRUW]HUPDOPWZHUGHQ 'RFKQLFKWVGHUJOHLFKHQJHVFKDKXQGDOVGLH.RPPDQGDQWLQGLH2UWXQJVXQG 0HGDWHQYRQGHQ.RQWUROOHQDEODVHUNDQQWHVLHGDGLH*22/$56$1ZHLW JHQXJ YRQ GHP %ODFN +ROH HQWIHUQW ZDU XQG NHLQH *HIDKU EHVWDQG YRQ GHQ 6FKZHUNUDIWZHOOHQEHUZlOWLJW]XZHUGHQ ³:LUKDEHQHVWDWVlFKOLFKJHVFKDIIWVWHOOWHVLHPLWHLQHU$QZDQGOXQJIUHXGLJHU (UUHJXQJIHVW³0ROHNXODUJHKLUQZLUVLQGGHQ.UlIWHQGHU)LQVWHUQLVHQWURQQHQ -HW]WEUDXFKVWGXQXUQRFKXQVHUH3RVLWLRQ]XHUPLWWHOQGDQQN|QQHQZLUQDFK *UXHOILQXQGQDFK1HZ/HWKRV&HQWHUIOLHJHQ ³'DV LVW ULFKWLJ SIOLFKWHWH GDV 0ROHNXODUJHKLUQ LKU EHL ³(V JLEW QXU HLQH

6FKZLHULJNHLW'LH+\SHURUWXQJILQGHWNHLQHEHNDQQWHQ%H]XJVSXQNWHLQQHUKDOE LKUHU5HLFKZHLWH ³6ROO GDV KHLHQ GD ZLU NHLQH 0|JOLFKNHLW KDEHQ IHVW]XVWHOOHQ LQ ZHOFKH 5LFKWXQJZLUIOLHJHQPVVHQXPQDFK*UXHOILQ]XNRPPHQ"IUDJWH$PXQ6LWDL HQWJHLVWHUW ³'DUDXIOlXIWHVKLQDXVJHVWDQGGDV0ROHNXODUJHKLUQ³6HOEVWYHUVWlQGOLFKKDEH LFKDXFKVFKRQHLQ+\SHUIHOG7HOHVNRSDXHUKDOEGHU*22/$56$1DXIJHEDXW XQG PLW LKP GDV $OO GXUFKVXFKW (UIROJORV (V KDW VRJDU ZHGHU GLH VRJHQDQQWH /RNDOH*DOD[LHQJUXSSHQRFKGHQVRJHQDQQWHQ9LUJR+DXIHQJHIXQGHQGHPGLH *DOD[LVYRUJHODJHUWLVW:LUEHILQGHQXQVLQHLQHP6HNWRUGHV8QLYHUVXPVEHU GHQPLUNHLQHUOHL,QIRUPDWLRQHQYRUOLHJHQ ³'DVNRPPWGDYRQZHQQPDQVLFKLQHLQ%ODFN+ROHVWU]WRKQHEHUSUIW]X KDEHQ ZRKLQ HV IKUW VDJWH $PXQ6LWDL ³:LU EHILQGHQ XQV DOVR LQ Y|OOLJ XQHUIRUVFKWHP*HELHW$EHUYLHOOHLFKWLVWGDVJDUQLFKWVRVFKOHFKW6LHGHXWHWH PLW]ZHLKDOENUHLVI|UPLJHQ$UPEHZHJXQJHQDXIGHQ5LQJGHU6RQQHQGHUGDV *LJDQW%ODFN +ROH XPJDE ³(V ZlUH VLFKHU ODQJZHLOLJ ZHQQ ZLU VFKRQ DOOHV EHU GLHVHQ 5DXPVHNWRU ZWHQ 6R KDEHQ ZLU 1HXODQG YRU XQV (V ZLUG VHKU LQWHUHVVDQW VHLQ GDV DOOHV ]X HUIRUVFKHQ XQG YLHOOHLFKW ILQGHQ ZLU VRJDU HLQH =LYLOLVDWLRQGLHXQVKLOIWGHQ:HJQDFK*UXHOILQ]XILQGHQ ³$EHU GLH $QZHLVXQJ ODXWHWH GLFK VR VFKQHOO ZLH P|JOLFK QDFK 1HZ /HWKRV &HQWHU]XEULQJHQZDQGWHGDV0ROHNXODUJHKLUQHLQ ³:DUXP"IUDJWHGLH.RPPDQGDQWLQ ³'LHVH,QIRUPDWLRQEHJDQQGDV0ROHNXODUJHKLUQ ³LVW JHVLFKHUW EHHQGHWH $PXQ6LWDL LQ VDUNDVWLVFKHP 7RQIDOO GHQ 6DW] ³(V QW]W EHVWLPPW QLFKWV ZHQQ LFK GLU HUNOlUH GD DOOH $EVLFKHUXQJHQ YRQ ,QIRUPDWLRQHQDQJHVLFKWVXQVHUHU/DJHVLQQORVJHZRUGHQVLQG'XNDQQVWQLFKW JHJHQGHLQH3URJUDPPLHUXQJDQ,FKVDJHGLUDEHUGDHVPLUYRQMHW]WDQHJDO LVW ZDQQ XQG ZDUXP 1HZ /HWKRV &HQWHU PLFK KDEHQ ZROOWH ,FK ZLOO GD ZLU .RQWDNWPLWGHUQlFKVWHQHUUHLFKEDUHQ=LYLOLVDWLRQDXIQHKPHQ ³:HQQHVLQHUUHLFKEDUHU1lKHHLQHJLEWHUZLGHUWHGDV0ROHNXODUJHKLUQ ³6HLQLFKWHLQIlOWLJWDGHOWH$PXQ6LWDL³'DV*LJDQW%ODFN+ROHLVW7HLOHLQHV LQWHUJDODNWLVFKHQ 7UDQVLW6\VWHPV VRQVW ZlUHQ ZLU YRQ LKP QLFKW LQ GHQ 1RUPDOUDXP WUDQVIHULHUW ZRUGHQ 6FKZDU]/RFK7UDQVLW6\VWHPH DEHU VLQG GDV :HUN KRFKHQWZLFNHOWHU =LYLOLVDWLRQHQ (V JDE VLH VFKRQ YRU -DKUPLOOLDUGHQ =ZDU VLQG IDVW DOOH LP /DXI GHU =HLW HEHQVR ]XVDPPHQJHEURFKHQ ZLH GLH 6WHUQHQY|ONHUGLHVLHGXUFK0DQLSXODWLRQHQQRUPDOHU%ODFN+ROHVVFKXIHQDEHU GLHQRFKIXQNWLRQLHUHQGHQhEHUUHVWHGUIWHQZHLWHULQ%HWULHEVHLQ 6LHKRELKUH6WLPPH ³,FK DEHU ZHL GD KRFKHQWZLFNHOWH =LYLOLVDWLRQHQ VLFK PLW LKUHQ 6RQQHQV\VWHPHQ LQ GHU 1lKH YRQ %ODFN +ROHV DQJHVLHGHOW KDEHQ VRIHUQ GLHVH %ODFN +ROHV %HVWDQGWHLOH YRQ 7UDQVLW6\VWHPHQ ZDUHQ 6R HWZDV LVW HLQIDFK UDWLRQHOO XQG GDPLW SUDNWLVFK (V ]X XQWHUODVVHQ ZlUH GXPP GHQQ DXFK KRFKHQWZLFNHOWH =LYLOLVDWLRQHQ PVVHQ VSDUVDP PLW GHQ ]XU 9HUIJXQJ VWHKHQGHQ (QHUJLHTXHOOHQ XPJHKHQ (QHUJLHYHUVFKZHQGHU XQWHU GHQ

=LYLOLVDWLRQHQ VROOHQ IUKHU DOOHLQ IU .RPPXQLNDWLRQV]ZHFNH GLH (QHUJLHDEJDEH HLQHU JDQ]HQ *DOD[LV YHUZHQGHW KDEHQ 6LH H[LVWLHUWHQ QLH VHKU ODQJH ³'DV LVW PLU EHNDQQW HUZLGHUWH GDV 0ROHNXODUJHKLUQ ³0LU LVW DXFK EHNDQQW GD VLFK KRFKHQWZLFNHOWH =LYLOLVDWLRQHQ PHLVW LQ GHU 1lKH YRQ %ODFN +ROHV DQVLHGHOQ GLH YRQ LKQHQ ]X 7UDQVLW]ZHFNHQ JHQXW]W ZHUGHQ =ZLVFKHQ LKUHQ :HOWHQ VROOWH MHGRFK HLQH SHUPDQHQWHUHJH.RPPXQLNDWLRQVWDWWILQGHQ'DVLVW KLHUQLFKWGHU)DOO 9HU]ZHLIOXQJ ZROOWH $PXQ6LWDL EHUZlOWLJHQ DOV VLH IKOWH ZLH VHKU VLH SV\FKLVFK YRQ GHU .RPPXQLNDWLRQ PLW DQGHUHQ ,QWHOOLJHQ]HQ DEKlQJLJ ZDU 9|OOLJDXIVLFKDOOHLQJHVWHOOW]XVHLQHUVFKLHQLKUVFKOLPPHUDOVGHU7RG=ZDU JDEHVQRFKGDV0ROHNXODUJHKLUQXQGLKUH;HQR.RPELQDWLRQDEHUGDVZDUDXI GLH 'DXHU NHLQ (UVDW] IU .RQWDNWH PLW ELRORJLVFK JHZDFKVHQHQ ,QWHOOLJHQ]HQ HFKWHU+RFK]LYLOLVDWLRQHQ 'RFK GDQQ HUNDQQWH VLH GLH )HLQKHLWHQ LQ GHU $XGUXFNVZHLVH GHV 0ROHNXODUJHKLUQV (V KDWWH QXU JHVDJW GD ]ZLVFKHQ GHQ :HOWHQ ULQJV XP GDV %ODFN +ROH NHLQH SHUPDQHQWHUHJH.RPPXQLNDWLRQVWDWWIDQG ³*LEWHVYHUHLQ]HOWHQ+\SHUIXQNYHUNHKU"HUNXQGLJWHVLHVLFK ³,FK HPSIDQJH VFKZDFKH 6LJQDOH GLH YRQ VLHE]HKQ 3ODQHWHQ DXVJHKHQ DQWZRUWHWH GDV 0ROHNXODUJHKLUQ ³'DV VLQG DEHU DOOHV QXU NXU]H QLFKWVVDJHQGH ,PSXOVJUXSSHQ GLH DQVFKHLQHQG YRQ DXWRPDWLVFK DUEHLWHQGHQ VFKZDFKHQ +\SHUVHQGHUQ NRPPHQ /HGLJOLFK YRQ HLQHP 3ODQHWHQ NRPPHQ ZHFKVHOQGH ,PSXOVJUXSSHQ GLH YRQ LQWHOOLJHQWHQ :HVHQ ]XVDPPHQJHVWHOOW ZRUGHQ VHLQ N|QQWHQ 6LH VLQG DOOHUGLQJV KRFKZHUWLJ NRGLHUW VR GD LFK VLH ELVKHU QLFKW HQWVFKOVVHOQNRQQWH ³:LUIOLHJHQKLQHQWVFKLHG$PXQ6LWDLQDFKNXU]HPhEHUOHJHQ³1LPP.XUV DXIGHQ3ODQHWHQ:DVKDVWGXELVKHUEHULKQKHUDXVJHIXQGHQ" ³(VKDQGHOWVLFKXPGHQQHXQWHQ3ODQHWHQHLQHUPLWWHOJURHQEODXHQ6RQQHGLH YRQ LQVJHVDPW DFKWXQG]ZDQ]LJ 3ODQHWHQ XPNUHLVW ZLUG HUNOlUWH GDV 0ROHNXODUJHKLUQ³(ULVWHWZDVPHKUDOVHUGJURKDWHLQH6FKZHUNUDIWYRQ J XQG ZDKUVFKHLQOLFK HLQH JXWH 6DXHUVWRIIDWPRVSKlUH PLW HLQHU GXUFKVFKQLWWOLFKHQ7HPSHUDWRUYRQ]Z|OI*UDG&HOVLXV ³(UGJUR"HFKRWH$PXQ6LWDL³:DVEHGHXWHWGDV" ³(UGH RGHU 7HUUD LVW GHU 1DPH MHQHV 3ODQHWHQ YRQ GHP GLH *UQGHUYlWHU GHV ,3& VWDPPWHQ DQWZRUWHWH GDV 0ROHNXODUJHKLUQ ³'HVKDOE EH]LHKHQ VLFK DXFK KHXWHQRFKYLHOH$QJDEHQDXIGLHGRUWLJHQ9HUKlOWQLVVH ³0LUEHGHXWHWGDVQLFKWYLHOPHLQWH$PXQ6LWDL ³(V LVW DEHU QLFKW DXV]XVFKOLHHQ GD GX YRQ ,QWHOOLJHQ]HQ DEVWDPPVW GHUHQ 8UDKQHQ HLQVW DXI 7HUUD EHKHLPDWHW ZDUHQ ZDQGWH GDV 0ROHNXODUJHKLUQ HLQ ³(V JLEW ]ZLVFKHQ LKQHQ XQG GLU YLHOH SK\VLVFKH XQG SV\FKLVFKH hEHUHLQVWLPPXQJHQ ³'DV PDJ UHLQ ]XIlOOLJ VHLQ HQWJHJQHWH $PXQ6LWDL ³:DQQ ZHUGHQ ZLU EHL GHPQHXQWHQ3ODQHWHQGHUEODXHQ6RQQHDQNRPPHQ"

³,Q]LUNDYLHU6WXQGHQDQWZRUWHWHGDV0ROHNXODUJHKLUQ³(VGDXHUWGHVKDOEVR ODQJHZHLOGLH*22/$56$1DOV'DNNDUUDXP3ODWWIRUP]XVFKZDFKH+\SHU WULHEZHUNHEHVLW]WXPLQGHU1lKHHLQHV%ODFN+ROHVGDPLWHLQJHUPDHQVLFKHU QDYLJLHUHQ ]X N|QQHQ 'HVKDOE EHQXW]HQ ZLU GLH +\SHUVH[WD+DOEVSXU PVVHQ DEHU ZHJHQ GHU VSH]LHOOHQ :LUNXQJVZHLVH GHV 'LPHVH[WDWULHEZHUNV HLQHQ %RJHQEHUYLHOH0LOOLRQHQ/LFKWMDKUHVFKODJHQREZRKOGDV=LHOQXUYLHUHLQKDOE /LFKWMDKUHHQWIHUQWLVW ³,FK YHUVWHKH HUZLGHUWH $PXQ6LWDL ³%LVKHU KDEH LFK PLFK QLFKW XP GLH .RQVWUXNWLRQVPHUNPDOH GHU *22/$56$1 JHNPPHUW -HW]W ZLUG PLU NODU GD LFK ]X ZHQLJ EHU GDV 6FKLII ZHL 'X ZLUVW PLFK DOVR ZlKUHQG GHV 'DNNDUUDXPIOXJVGDUEHULQIRUPLHUHQ ³9HUVWDQGHQ.RPPDQGDQWLQVDJWHGDV0ROHNXODUJHKLUQ $OV GLH *22/$56$1 LP =LHOJHELHW LQ GHQ 1RUPDOUDXP ]XUFNILHO ZDU $PXQ6LWDL EHU GLH ZLFKWLJVWHQ .RQVWUXNWLRQV XQG /HLVWXQJVGDWHQ GHU 'DNNDUUDXP3ODWWIRUPLQIRUPLHUW 'HU=HUR.UHX]HUVHW]WHVLFKDXV+XQGHUWHQVWXPSIJUDXHU]\OLQGULVFKHU.|USHU ]XVDPPHQ GLH QDFK VWDWLVFKHQ *HVLFKWVSXQNWHQ PLWHLQDQGHU YHUEXQGHQ XQG IXQNWLRQHLO PLWHLQDQGHU ]X HLQHU (LQKHLW JHNRSSHOW ZDUHQ (LQH OFNHQORVH 9HUNOHLGXQJ DXV ² HEHQIDOOV VWXPSIJUDXHQ ² 0RGXOHQ ELOGHWH QLFKW QXU GLH +OOH VRQGHUQ RSWLPLHUWH GLH /HLVWXQJHQ GHU YLHOH 4XDGUDWPHWHU JURHQ 3ODWWIRUP :LFKWLJVWHV $QWULHEVV\VWHP ZDU GDV 'LPHVH[WD7ULHEZHUN GDV GLH *22/$. 6$1 LQ GLH /DJH YHUVHW]WH ]XU YLHOELOOLRQHQIDFK OLFKWVFKQHOOHQ )RUWEHZHJXQJ DXI GLH +\SHUVH[WD+DOEVSXU ]X ³JHKHQ HLQHP DXFK 'DNNDUUDXP JHQDQQWHQ 0HGLXP GDV DOV IQIGLPHQVLRQDOHV hEHUODJHUXQJVNRQWLQXXP GLH HQHUJHWLVFK QHXWUDOH /LEUDWLRQV]RQH ]ZLVFKHQ IQIWHU XQG VHFKVWHU 'LPHQVLRQ ELOGHWH 0LW GHP6H[WDGLPWULHEZHUNNRQQWHQGLH(QWIHUQXQJHQ]ZLVFKHQGHQ*DOD[LHQRKQH VFKZHUZLHJHQGHQ =HLWYHUOXVW EHUZXQGHQ ZHUGHQ )U )OJH EHU NU]HUH 'LVWDQ]HQZXUGHPHLVWGHU+\SHUUDXP+LOIVDQWULHEYHUZHQGHW 'LH=HQWUDOHGHU=HUR.UHX]HUVEHIDQGVLFKLQHLQHP]\OLQGULVFKHQ.|USHUGHV YRUGHUHQ'ULWWHOVQDFKDOOHQ6HLWHQJHGHFNWGXUFKDQGHUH=HOOHQXQG0RGXOHVR GD VLH QXU EHL VFKZHUVWHQ %HVFKlGLJXQJHQ GHV *HVDPWVFKLIIV JHIlKUGHW ZUGHQ =XUQRUPDOHQ$XVUVWXQJJHK|UWHQ'DNNDUNRP+\SHUNRP7UDQVIRUPNDQRQHQ 9LEUDWRUNDQRQHQ XQG 3DUDO\VHZDIIHQ VRZLH IQI %HLERRWH UHODWLY NOHLQH VSLQGHOI|UPLJH JROGIDUEHQH )DKU]HXJH RKQH 'LPHVH[WDWULHEZHUNH DEHU PLW HLQHU )OOH XQWHUVFKLHGOLFKVWHU :DIIHQ GLH MHGRFK DXVVFKOLHOLFK ]XU 9HUWHLGLJXQJHLQJHVHW]WZHUGHQGXUIWHQ 9RQ GHQ %HLERRWHQ ZDU QXU QRFK HLQHV YRUKDQGHQ GLH 'DNNDUNRPH ZDUHQ GXUFK )UHPGHLQZLUNXQJ XQEUDXFKEDU JHZRUGHQ XQG JXW HLQ 'ULWWHO DOOHU 3ODWWIRUP]HOOHQKDWWHGXUFKIHLQGOLFKHQ%HVFK6FKlGHQHUOLWWHQ/HW]WHUHVJDE $PXQ6LWDL DP PHLVWHQ ]X GHQNHQ GHQQ DQJHVLFKWV GHU VWDUNHQ 3DUDWURQ XQG 'DNNDUGLPVFKXW]VFKLUPHGHV=HUR.UHX]HUVKlWWHGDV6FKLIIGHV,3&HLJHQWOLFK XQYHUZXQGEDUVHLQPVVHQ6HLQH.RQVWUXNWHXUHZDUHQDQVFKHLQHQGDXFKGLHVHU

0HLQXQJ JHZHVHQ 6LH KDWWHQ GHPQDFK QLFKW HUZDUWHQ N|QQHQ GD GLH *22/$56$1YRQVRVWDUNHQ*HZDOWHQDQJHJULIIHQZRUGHQZDUZLHHVZRKO JHZHVHQVHLQPXWH :DKUVFKHLQOLFK KDWWH VLFK GDV LP 8QLYHUVXP 7DUNDQ HUHLJQHW EHUOHJWH GLH .RPPDQGDQWLQ 6LH IUDJWH GDV 0ROHNXODUJHKLUQ MHGRFK QLFKW GDQDFK ZHLO VLH DQQDKPGDGLHVH,QIRUPDWLRQ]XGHQVSH]LHOODEJHVLFKHUWHQJHK|UWH]XGHULKU GHU=XJULIIQLFKWHUODXEWZDU $XHUGHPJLQJGLH*24/$56$1]XGHU=HLWLQHLQHQ2UELWXPGHQQHXQWHQ 3ODQHWHQGHUEODXHQ6RQQHXQG$PXQ6LWDLULFKWHWHLKUHJDQ]H$XIPHUNVDPNHLW DXIGLH)OOHGHUHLQJHKHQGHQ2UWXQJVGDWHQ =XDOOHUHUVW LQWHUHVVLHUWH VLFK GLH .RPPDQGDQWLQ QDWUOLFK IU GHQ 6HQGHU DXI 1HXQZLHVLHGHQ3ODQHWHQYRUOlXILJQDQQWH'LH+\SHULPSXOVJUXSSHQGLHHULQ VFKQHOOHP :HFKVHO DXVVWUDKOWH EOLHEHQ IU GDV 0ROHNXODUJHKLUQ ZHLWHUKLQ XQYHUVWlQGOLFK$EHUZHQLJVWHQVIDQGHVKHUDXVZRUDQGDVODJ (V ODJ HLQIDFK GDUDQ GD PLW MHGHU QHXHQ ,PSXOVJUXSSH HLQ QHXHU .RGH YHUZHQGHW ZXUGH GHU VR ZLOONUOLFK JHZlKOW ZDU GD HU VLFK YRQ NHLQHP &RPSXWHUHQWVFKOVVHOQOLH :DVEHGHXWHWHGDGHU+\SHUVHQGHUYRQHLQHP&RPSXWHUJHVWHXHUWZXUGHGHU GHP0ROHNXODUJHKLUQPLQGHVWHQVHEHQEUWLJZDU ,Q NUDVVHP *HJHQVDW] ]X GLHVHU +LJK7HFK$XVVWDWWXQJ VWDQGHQ GLH *HELHWH 1HXQV DXHUKDOE GHV +\SHUVHQGHUV (V JDE LQVJHVDPW QHXQ .RQWLQHQWH XQG VLHEHQ0HHUH²XQGELVDXIGLHEHLGHQNOHLQHUHQSRODUHQ.RQWLQHQWHZDUHQDOOH DQGHUHQIUGLH(QWZLFNOXQJSIODQ]OLFKHQXQGWLHULVFKHQ/HEHQVJHHLJQHW 'HPHQWVSUHFKHQG GLFKW ZDU DXFK GLH )ORUD XQG GLH =HUHEUDOWDVWHU YHUULHWHQ GDHV]DKOORVH7LHUDUWHQDXI1HXQJDE 8QGHLQHGRPLQLHUHQGH7LHUDUWGHUHQ,QWHOOLJHQ]SRWHQWLDODXVJHUHLFKWKlWWHHLQH UDXPIDKUWWUHLEHQGH=LYLOLVDWLRQ]XHQWZLFNHOQ=HLWJHQXJGDIUKlWWHVLHJHKDEW GHQQ GLH 5XLQHQ DOWHU 6WlGWH XQG GLH 5HVWH XUDOWHU 6WlGWH XQWHU GHQ QHXHUHQ 6WlGWHQ YHUULHWHQ GD HV VFKRQ VHLW UXQG DQGHUWKDOE 0LOOLRQHQ -DKUHQ $QIlQJH HLQHU=LYLOLVDWLRQJHJHEHQKDWWH $XI DQGHUHQ :HOWHQ ZDU LQ NOHLQHUHQ =HLWUlXPHQ GHU 6FKULWW YRQ GHU SODQHWDULVFKHQ ]XU LQWHUSODQHWDULVFKHQ .XOWXU JHWDQ ZRUGHQ RIW VRJDU QRFK ZHLWHU ELV ]XU JDODNWLVFKHQ .XOWXU 6R JHVHKHQ ZDU 1HXQ HLQH HLQVDPH $XVQDKPH GHQQ GLH KHLPLVFKHQ ,QWHOOLJHQ]HQ KDWWHQ GLH (QWZLFNOXQJ LKUHU 7HFKQLNJHUDGHELV]XU'DPSIPDVFKLQHYRUDQJHWULHEHQ ³:HQLJVWHQV N|QQHQ VLH XQV QLFKW JHIlKUOLFK ZHUGHQ UHVPLHUWH $PXQ6LWDL QDFKGHPVLHDOOH)DNWHQJHSUIWKDWWH³,FKP|FKWHPLWGHP%HLERRWODQGHQXQG GHQ+\SHUVHQGHUDXIVXFKHQ ³(VNRPPWZHQLJHUGDUDXIDQREGLH3ODQHWDULHUXQVJHIlKUOLFKZHUGHQN|QQHQ VRQGHUQ GDUDXI RE ZLU LKQHQ VFKDGHQ N|QQWHQ HQWJHJQHWH GDV 0ROHNXODUJHKLUQ ³'DV ,3& LVW QLFKW DXI (UREHUXQJHQ DXV VRQGHUQ DUEHLWHW IU GLH)|UGHUXQJSRVLWLYHU(QWZLFNOXQJHQLP8QLYHUVXP :HQQ ZLU GHQ 3ODQHWDULHUQ YRQ 1HXQ HLQHQ .XOWXUVFKRFN YHUVHW]WHQ ZlUH GDV MHGRFKHLQQHJDWLYHU(IIHNW

³'LH3ODQHWDULHULQWHUHVVLHUHQPLFKQLFKWJDE$PXQ6LWDLKHUDEODVVHQG]XUFN ³,FKZLOOQXUIHVWVWHOOHQZHUGHQ+\SHUVHQGHUHUULFKWHWHXQG]XZHOFKHP=ZHFN XQG QDFK 0|JOLFKNHLW ZLOO LFK GLH .RGLHUXQJHQ GHU ,PSXOVJUXSSHQ HQWVFKOHLHUQVRGDLFKHUIDKUHZDVGLH6HQGXQJHQ]XEHGHXWHQKDEHQ ³'HLQH *OHLFKJOWLJNHLW JHJHQEHU GHQ 3ODQHWDULHUQ LVW DW\SLVFK IU HLQH ,3& %HDXIWUDJWHEHPlQJHOWHGDV0ROHNXODUJHKLUQ ³$XI 1HZ/HWKRV &HQWHU ZLUG PDQ GDV YHUVWHKHQ GHQQ VFKOLHOLFK ZXUGH LFK ]ZDULQGHQ5DQJHLQHU,3&%HDXIWUDJWHQHUKREHQDEHUQLFKWLQGLH*HVHW]HGHV ,3& HLQJHZHLKW HUZLGHUWH $PXQ6LWDL VDUNDVWLVFK ³=HLJH PLU GHQ :HJ ]XP %HLERRWXQGPDFKHPLFKPLWVHLQHU%HGLHQXQJYHUWUDXW$OV.RPPDQGDQWLQGHU *22/$56$1NDQQLFKZRKO*HKRUVDPYHUODQJHQ ³6HOEVWYHUVWlQGOLFKHUNOlUWHGDV0ROHNXODUJHKLUQ³,FKZROOWHGLFKQXUGDUDXI KLQZHLVHQGDGHLQ9HUKDOWHQVLFKJHlQGHUWKDWXQGGDGDVYLHOOHLFKWDXIHLQH 9HUlQGHUXQJ GHLQHU 3V\FKH ]XUFN]XIKUHQ LVW )DOOV GX HLQH HQWVSUHFKHQGH 8QWHUVXFKXQJEUDXFKVWVWHKHLFKGLU]XU9HUIJXQJ ³1HLQ OHKQWH $PXQ6LWDL HUKHLWHUW DE ³'X LUUVW GLFK ,FK KDEH PLFK QLFKW SV\FKLVFK YHUlQGHUW VRQGHUQ ELQ QXU XQJHGXOGLJ JHZRUGHQ ,FK ZLOO HQGOLFK DNWLYZHUGHQYHUVWHKWGX" ³,FKYHUVWHKHJDEGDV0ROHNXODUJHKLUQ]XUFN³%LWWHIROJHPHLQHQRSWLVFKHQ XQG DNXVWLVFKHQ 6LJQDOHQ ,FK EULQJH GLFK ]XP %HLERRW XQG ZHUGH GLFK GRUW HLQHUNXU]HQDEHUXPIDVVHQGHQ+\SQRVFKXOXQJ]XU%HGLHQXQJXQWHU]LHKHQ (LQH NQDSSH 6WXQGH VSlWHU ZDU GLH +\SQRVFKXOXQJ EHHQGHW XQG $PXQ6LWDL ZXWHGDVLHGDV%HLERRWEHKHUUVFKWH 6LHKLHOWVLFKQLFKWOlQJHUDXIVRQGHUQVWDUWHWHZlKUHQGGLH*22/$56$1LP :HOWUDXPEOLHEXQGLQHLQHQVWDWLRQlUHQ2UELWJLQJGHUVLHSHUPDQHQWEHUGHP +\SHUVHQGHU³YHUDQNHUWH $PXQ6LWDLDEHUVWHXHUWHGDV%HLERRW]XHUVWLQHLQHHOOLSWLVFKH8PODXIEDKQXQG GUFNWHHVDQVFKOLHHQGDOOPlKOLFKWLHIHULQGLH$WPRVSKlUH(LQH6WXQGHVSlWHU JLQJVLHELVGLFKWDQGLH2EHUIOlFKHKLQDE=XGLHVHP=HLWSXQNWEHIDQGVLHVLFK LQ/XIWOLQLHUXQGWDXVHQG.LORPHWHUYRQGHP+\SHUVHQGHUHQWIHUQW 1DFKGHP VLH HLQLJH 0LQXWHQ LQ 6FKOHLFKIDKUW ]XUFNJHOHJW KDWWH RKQH GD GHU 6HQGHU VHLQH 6HQGXQJHQ HLQJHVWHOOW RGHU YHUlQGHUW KlWWH RGHU GD $EZHKUPDQDKPHQ JHJHQ VLH HUJULIIHQ ZRUGHQ ZlUHQ EHVFKOHXQLJWH VLH XQG VWHXHUWHGDV%HLERRWLP7LHIVWIOXJDQLKU=LHOKHUDQ 'LHVPDO YHU]LFKWHWH VLH DXI GLH +\SHURUWXQJ GHVKDOE VDK VLH GDV *HElXGH LQ GHP GHU 6HQGHU YHUERUJHQ ZDU HUVW ZLHGHU QDFKGHP VLH LKP VFKRQ ]LHPOLFK QDKHJHNRPPHQZDU 'DV%DXZHUNZDUHLQHYHUZLWWHUWDXVVHKHQGH3\UDPLGHGLHYRQGHQ3ODQHWDULHUQ DQVFKHLQHQGDOV+HLOLJWXPYHUHKUWZXUGH'DVVFKW]WHGHQ6HQGHUZLUNVDPYRU (QWGHFNXQJ'LHQlFKVWH$QVLHGOXQJZDUUXQGGUHLLJ.LORPHWHUHQWIHUQWXQG ]ZLVFKHQ LKU XQG GHU 3\UDPLGH ODJ QLFKWV DOV HEHQH =ZHUJVWUDXFK7XQGUD GLH WHLOZHLVHYHUPRRUWZDUXQGVLFKLPVRPPHUOLFKHQ%OXPHQVFKPXFNEHIDQG ³=XVlW]OLFKHHQHUJHWLVFKH$NWLYLWlWPHOGHWHGHU$EOHJHUGHV0ROHNXODUJHKLUQV GHUDOV%RUGFRPSXWHULP%HLERRWDUEHLWHWHXQGYRQ$PXQ6LWDLNXU]HUKDQGPLW

GHP1DPHQ0RODEEHGDFKWZRUGHQZDU =X GHU =HLW KDWWH GDV %RRW GHQ lXHUHQ 5DQG GHU 7XQGUD ]ZLVFKHQ GHU $QVLHGOXQJ XQG GHU 3\UDPLGH EHUIORJHQ LQ HLQHQ 6LFKWVFKXW]VFKLUP JHKOOW GHUGLH3ODQHWDULHUYRUGHP$QEOLFNGHV%HVXFKHUVDXVGHP$OOEHZDKUWH ³'UFNHGLFKNRQNUHWHUDXVEHIDKO$PXQ6LWDL ³(V KDQGHOW VLFK XP VFKZDFKH 6H[WDGLPVWUDKOXQJ HUNOlUWH 0RODE ³:DKUVFKHLQOLFK LVW HV QXU GLH 6WUHXVWDKOXQJ YRQ $JJUHJDWHQ GHUHQ +DXSWVWUDKOXQJXQVHUH2UWXQJQLFKWHUIDVVHQNDQQ ³:DKUVFKHLQOLFK GLH 6WUHXVWUDKOXQJ YRQ $JJUHJDWHQ GLH XQV XQWHUVXFKHQ VROOHQ PHLQWH $PXQ6LWDL ³(V KlWWH PLFK JHZXQGHUW ZHQQ GHU +\SHUVHQGHU Y|OOLJVFKXW]ORVDXIGLHVHU%DUEDUHQZHOWVWHKHQZUGH%HVWHKW*HIDKUIUXQV 0RODE"0VVHQZLUGLH6FKXW]VFKLUPHDNWLYLHUHQ" ³9RUHUVW NHLQH GLUHNWH *HIDKU DQWZRUWHWH GHU %RUGFRPSXWHU ³'LH 6H[WDGLPVWUDKOXQJ KDW bKQOLFKNHLW PLW GHU 6WUHXVWUDKOXQJ HLQHV 'DNNDU 7DVWUHVRQDWRUV 'DPLW ZHUGHQ QRUPDOHUZHLVH 9RUJlQJH DXI GHU 6H[WDGLP +DOEVSXUDQJHSHLOW ³'DVNDQQXQVQLFKWEHWUHIIHQPHLQWH$PXQ6LWDLEHUXKLJW³:LUDUEHLWHQQLFKW PLW*HUlWHQGLH9RUJlQJHDXIGHU6H[WDGLP+DOEVSXUHU]HXJHQ ,PQlFKVWHQ0RPHQWIXKUVLHKHIWLJ]XVDPPHQ ³'X VDJWHVW QRUPDOHUZHLVH 0RODE ULHI VLH DKQXQJVYROO ³:R]X ZHUGHQ 'DNNDU7DVWUHVRQDWRUHQVRQVWQRFKYHUZHQGHW" ³=XU (QWVW|UXQJ EHL =HLWYHUVHW]XQJHQ DQWZRUWHWH GHU $EOHJHU ³$EHU ZHGHU KLHUQRFKDXI*22/$56$1EHILQGHQVLFK$JJUHJDWHGLH]X=HLWYHUVHW]XQJHQ GLHQHQ ³$EHU XQWHU XQV YLHOOHLFKW VFKULH $PXQ6LWDL LQ K|FKVWHU (UUHJXQJ ³1RWEHVFKOHXQLJXQJ 0RODE =XUFN ]XP =HUR.UHX]HU 8QG 1RWUXI DQ GDV 0ROHNXODUJHKLUQ ª1LFKWPHKUP|JOLFKWHLOWHGHU$EOHJHULKUPLW ³8QVHUH $JJUHJDWH ZHUGHQ QHXWUDOLVLHUW (LQ VHFKVGLPHQVLRQDOHV (QHUJLHIHOG PLW SDUDWHPSRUDOHQ 6FKZLQJXQJHQ XPJLEW XQV ,FK HPSIHKOH GHQ 'DNNDUGLP 6FKXW]VFKLUPDXI]XEDXHQ $PXQ6LWDLEHUOHJWHNXU]GDQQVDJWHVLH ³1HLQZLUYHUKDOWHQXQVSDVVLY-HPDQGKDWXQVQDFK1HXQJHORFNWXQGZLOOXQV LQ GHU =HLW YHUVHW]HQ 0LU VFKHLQW GD HU QLFKW QXU GD]X GLH 0|JOLFKNHLWHQ EHVLW]W VRQGHUQ DXFK GLH 0LWWHO XQVHUHQ :LGHUVWDQG ]X EUHFKHQ (V ZlUH XQORJLVFK YRQ XQV LKQ GD]X ]X SURYR]LHUHQ :LU PVVHQ GLH 9HUVHW]XQJ P|JOLFKVWXQEHVFKDGHWEHUVWHKHQXPGDQDFKQRFKDJLHUHQ]XN|QQHQ 6LH VD UXKLJ XQG IDVW HQWVSDQQW LQ LKUHP .RQWXUVHVVHO ZlKUHQG ULQJVXP VLFK HLQH $UW 6SLHJHOIHOG DXIEDXWH GDV DEHU QLFKWV DXHU GHP %HLERRW UHIOHNWLHUWH XQGGDVDXFKQRFKYLHOKXQGHUWIDFKXQGYHU]HUUW ,QLKUHP6FKlGHODEHUMDJWHQVLFKGLH*HGDQNHQ 6LH DKQWH GD GLH IHKOHQGHQ $Q]HLFKHQ IU 6XSHU]LYLOLVDWLRQHQ LQ GHQ 6RQQHQV\VWHPHQ ULQJV XP GDV *LJDQW%ODFN +ROH HLQH 7lXVFKXQJ ZDUHQ XP (QWGHFNHULQ6LFKHUKHLW]XZLHJHQXQGLQGLHYRUEHUHLWHWH)DOOH]XORFNHQ

6RZLHHLQH6SLQQHLKU%HXWHWLHULQ6LFKHUKHLWZLHJWXPGDQQDXVGHP=HQWUXP LKUHV1HW]HVKHUDXVDQ]XJUHLIHQ 1XUGDGDV=HQWUXPGLHVHV1HW]HVLQGHP)DOODXIHLQHUDQGHUHQ=HLWHEHQHODJ (QWZHGHULQGHU9HUJDQJHQKHLWRGHULQGHU=XNXQIW $PXQ6LWDL EUDXFKWH QLFKW ODQJH ]X ZDUHQ ELV GDV 6SLHJHOIHOG GDV LKUHU 0HLQXQJ QDFK QXU HLQ RSWLVFKHU 1HEHQHIIHNW HLQHV =HLWYHUVHW]XQJVIHOGV ZDU HUORVFKXQGGLH3\UDPLGHZLHGHUVLFKWEDUZXUGH $EHUZDVIUHLQH3\UDPLGH 6LHZDUDOOHVDQGHUHDOVHLQYHUZLWWHUWHV%DXZHUNDXV6WHLQEO|FNHQVRQGHUQHLQH EODXVLOEHUQVFKLPPHUQGH.RQVWUXNWLRQDXVPDNHOORVHP0HWDOOSODVWLN 8QG VLH VWDQG DXFK QLFKW LP 0LWWHOSXQNW HLQHU NUHLVUXQGHQ 7DEX]RQH PLW 7XQGUD9HJHWDWLRQ VRQGHUQ DXI HLQHU ULHVLJHQ )OlFKH GLH OFNHQORV YRQ GXQNHOJUDXHQ0HWDOOSODWWHQEHGHFNWZDUXQGDQGHUHQIHUQHP5DQGVLFKVLOEHUQH .XSSHOEDXWHQKRFKLQHLQHQEODXHQ+LPPHOHUKREHQ ³:DVVROOHQZLUWXQ"©ZLVSHUWH0RODE ³$EZDUWHQIOVWHUWH$PXQ6LWDL³-HPDQGIKOWVLFKVHKUVLFKHUXQGGHQNWHU N|QQWHPLWXQVPDFKHQZDVHUZLOO6RVROOHVEOHLEHQELVHU.RQWDNWPLWXQV DXIQLPPW 6LHZDUEHU]HXJWGDYRQORJLVFK]XKDQGHOQ'DVJHQJWHLKU0LWGHP,QWHUQ .RPSOH[ LKUHV *URKLUQV IKOWH VLH VLFK DOOHQ DQGHUHQ ,QWHOOLJHQ]HQ GHV 8QLYHUVXPV JHLVWLJ EHUOHJHQ DXFK ZHQQ LKUH (ULQQHUXQJHQ EHL ZHLWHP QLFKW DOOH]XUFNJHNHKUWZDUHQ $OV VLFK YRQ HLQHU GHU .XSSHOEDXWHQ HLQ HOOLSWLVFKHV )DKU]HXJ O|VWH XQG GLFKW EHUGHP%RGHQDXIGDV%HLERRW]XVFKZHEWHKDQGHOWHVLH 6LH DNWLYLHUWH GHQ 'DNNDUGLP6FKXW]VFKLUP GHU GDV %HLERRW TXDVL DXV GHP QRUPDOHQ8QLYHUVXPHQWIHUQWHXQGVFKDOWHWHGLH5HWWXQJVEHVFKOHXQLJXQJHLQ 'LHh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l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

GDV0ROHNXODUJHKLUQGHV=HUR.UHX]HUVVDJWHHPRWLRQVORV ³+LHU VSULFKW 6XSHUFRQWURO ,FK UXIH GDV IUHPGH 2EMHNW GDV LQ GLH +DXSW]HLW JHKROWZXUGH(VZlUHVLQQORVVLFK]XZLGHUVHW]HQ6FKDOWHQ6LHDOOHVDXVZDV ]XU$EZHKUIUHPGHU(LQIOVVHGLHQW:LUKROHQ6LHGDQQDXIGLH+DXSW]HLWZHOW 6LHPVVHQEHUSUIWZHUGHQ6XSHUFRQWURO(QGH '$6=(,7,03(5,80 $PXQ6LWDLUHDJLHUWHQLFKW6LHKLHOWHV]ZDUQLFKWIUDXVJHVFKORVVHQDEHUGRFK IU ZHQLJ ZDKUVFKHLQOLFK GD LKU NOHLQHV %HLERRW GHVVHQ (QHUJLHV\VWHPH VWLOOJHOHJWZDUHQJHRUWHWZXUGH 9LHO ZDKUVFKHLQOLFKHU ZDU GD 6XSHUFRQWURO ZHU RGHU ZDV LPPHU VLFK KLQWHU GLHVHU DQPDHQGHQ %H]HLFKQXQJ YHUEDUJ QXU DXI 9HUGDFKW QDFK LKU JHUXIHQ KDWWH ZHLO PDQ GRUW DQQDKP GD GDV %HLERRW VLFK QRFK LQQHUKDOE GHU +\SHUNRPUHLFKZHLWHEHIDQG 6WDWW GHVVHQ EHREDFKWHWH VLH PLW GHQ 6\VWHPHQ GHU 3DVVLY2UWXQJ GLH LQ GDV *LJDQW%ODFN+ROHHLQIOLHJHQGHQXQGDXVLKPKHUDXVNRPPHQGHQ5DXPVFKLIIH GHUHQ GLPHQVLRQDO EHUJHRUGQHWH (QHUJLHPXVWHU VFKZDFKH 5HIOH[H DXI GLH SDVVLYLVFKHQ%LOGVFKLUPHGHU+\SHURUWXQJ]HLFKQHWHQ $XI lKQOLFKH :HLVH UHJLVWULHUWH $PXQ6LWDL VRZRKO GLH K\SHUHQHUJHWLVFKHQ DOV DXFKGLHQRUPDOHQHUJHWLVFKHQ$NWLYLWl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|UPLJHQ (EHQH XPJDE LP *UXQGH HLQH HLQ]LJH ULHVLJH 6WHUQHQVWDGW ZDU HUULFKWHW YRQ DOOHQ KRFKVWHKHQGHQ =LYLOLVDWLRQHQHLQHUJDQ]HQ*DOD[LV 6LH QDQQWHQ LKUH 6WHUQHQVWDGW 0RQGRIDQDJK ZDV VRYLHO ZLH ³+DXSW]HLW,QVHO EHGHXWHWH 'LH WLHIHUH %HGHXWXQJ GHV :RUWHV JLQJ $PXQ6LWDL MHGRFK HUVW DXI DOV VLH HLQLJH 6HQGXQJHQ DEJHK|UW KDWWH EHL GHQHQ HV VLFK RIIHQEDU XP DOWH ORNDOH1DFKULFKWHQKDQGHOWH ,KUVWRFNWHGHU$WHPDOVVLHEHJULIIGDGLH6WHUQHQVWDGW0RQGRIDQDJKQXUGLH HUVWHXQGGRPLQLHUHQGH(EHQHQlPOLFKGLH+DXSW]HLWHEHQHHLQHU9LHO]DKOYRQ 3DUDOOHO]HLWHEHQHQ ZDU GLH VRZRKO JOHLFK]HLWLJ DOV DXFK LQ YHUVFKLHGHQHQ 9HUJDQJHQKHLWHQ H[LVWLHUWHQ XQG YRQ GHQ %HZRKQHUQ YRQ 0RQGRIDQDJK LQ VFKDPORVHU:HLVHSDUDVLWLVFKDXVJHEHXWHWZXUGHQ 'LH0RQGRIDQDJKVZLHVLFKGLH7ULOOLRQHQ%HZRKQHUGHU6WHUQHQVWDGWQDQQWHQ KLHOWHQ GLH ,QWHOOLJHQ]HQ GHU 3DUD]HLWHEHQHQ PLW VXEWLOHQ 0LWWHOQ DXI (QWZLFNOXQJVVWXIHQ GLH ZHLW XQWHU LKUHP HLJHQHQ (QWZLFNOXQJVQLYHDX ODJHQ 'DV HUP|JOLFKWH HV LKQHQ VLH DXV]XEHXWHQ VLH LKUHU ZHUWYROOVWHQ 5RKVWRIIH

GHUHQ %HGHXWXQJ IU LKUH :HLWHUHQWZLFNOXQJ YRQ LKQHQ QRFK JDU QLFKW HUNDQQW ZXUGHQ ]X EHUDXEHQ XQG DXV LKUHQ 9|ONHUQ XQWHU DOOHQ P|JOLFKHQ 9RUVSLHJHOXQJHQ )UHLZLOOLJH ]X UHNUXWLHUHQ GLH DXI GHQ ,QGXVWULHZHOWHQ GHU 0RQGRIDQDJKVIDNWLVFK6NODYHQDUEHLWYHUULFKWHWHQ 'LHVH,QGXVWULHZHOWHQEHIDQGHQVLFKQLFKWLQGHQ5LQJV\VWHPHQGHU6WHUQHQVWDGW VRQGHUQ ZHLWHU ZHJ YRQ GHP *LJDQW%ODFN +ROH LQ GHQ 7LHIHQ GHU *DOD[LV 1RFK ZHLWHU ZHJ YRQ GHU 6WHUQHQVWDGW GLH DQVFKHLQHQG LQ HUVWHU /LQLH :RKQ XQG 9HUZDOWXQJVZHOW IU GDV =HLWLPSHULXP ZDU ² ZHOFKHU %HJULII LPPHU ZLHGHU HUZlKQW ZXUGH ² ODJHQ 6RQQHQV\VWHPH PLW ODQGZLUWVFKDIWOLFK JHQXW]WHQYRQ$XWRPDWHQEHWUHXWHQ3ODQHWHQVRZLH|NRORJLVFKH5HVHUYDWHXQG :HOWHQGLHVSH]LHOOGHU(UKROXQJXQGGHU)UHL]HLWJHVWDOWXQJGLHQWHQ $OOHV DEHU ZXUGH DQVFKHLQHQG YRQ HLQHU ,QVWLWXWLRQ EHKHUUVFKW XQG UHJLHUW GLH VLFK6XSHUFRQWUROQDQQWH6XSHUFRQWUROVFKLHQDOOZLVVHQGXQGDOOPlFKWLJ]XVHLQ 1LFKWIUPLFKGDFKWH$PXQ6LWDL 6LH OlFKHOWH WULXPSKLHUHQG DEHU QLFKW ODQJH GHQQ LQIROJH LKUHV ,QWHUQ .RPSOH[HV NDP VLH QLFKW XP GLH ORJLVFKH (LQVLFKW KHUXP GD VLH DXFK GDQQ IDOOVHV6XSHUFRQWUROQLFKWJHODQJVLHHLQ]XIDQJHQQLFKWVJHZRQQHQKDWWH $OOHLQ XQG WRWDO DEJHVFKQLWWHQ YRQ LKUHU =HLWHEHQH XQG RKQH $XVVLFKW MHPDOV ZLHGHUGRUWKLQ]XNRPPHQXQG]XGHU*22/$56$1]XUFN]XNHKUHQ $OV KlWWH 6XSHUFRQWURO QXU DEJHZDUWHW ELV VLH ]X GLHVHU (LQVLFKW JHODQJW ZDU PHOGHWHVLHVLFK]XP]ZHLWHQPDOEHU+\SHUNRP ³6XSHUFRQWURODQGDVIUHPGH2EMHNWGDVDXIGLH+DXSW]HLWHEHQHJHKROWZXUGH VDJWHGLHHPRWLRQVORVH6WLPPH³6LHKDWWHQ=HLWJHQXJ]XU%HVLQQXQJ,FKKDEH 6LHXQYHUlQGHUWLQGHU2UWXQJXQGZHUGH6LHMHW]WPLWHLQHP7UDQVSRUWVWUDKODXI GLH+DXSW]HLWZHOW]XUFNKROHQ:LHVFKRQJHVDJWPVVHQ6LHEHUSUIWZHUGHQ /HLVWHQ6LHNHLQH*HJHQZHKU'DVZUGHQXU,KUHHLJHQH6LFKHUKHLWJHIlKUGHQ (UELWWHUWVWHOOWH$PXQ6LWDLIHVWGD6XSHUFRQWUROGLH+\SHUNRPDQWHQQHQLKUHV %HLERRWV EHU GLH (QWIHUQXQJ YRQ DQGHUKDOE /LFKWMDKUHQ KLQZHJ XQWHU (QHUJLH JHVHW]WKDWWHGDPLWGLH%RWVFKDIWGHXWOLFKDQNDP 'HU ,3&%HDXIWUDJWHQ ZXUGH NODU GD 6XSHUFRQWURO HLQGHXWLJ GLH EHVVHUHQ .DUWHQEHVD 6LHZUGHNHLQH*HJHQZHKUOHLVWHQVRQGHUQLP*HJHQWHLOYHUVXFKHQVLFKQDFK XQG QDFK ]XU .RRSHUDWLRQVEHUHLWVFKDIW ³EHUUHGHQ ]X ODVVHQ XQG Q|WLJHQIDOOV VRJDUPLW6XSHUFRQWURONRRSHULHUHQELVVLHGHUHQ6FKZDFKVWHOOHQJHIXQGHQKDWWH XQGPLWJHQJHQG$XVVLFKWDXI(UIROJ]XVFKODJHQNRQQWH ³,FKDN]HSWLHUH,KUHhEHUOHJHQKHLWVDJWHVLH 6HNXQGHQVSlWHUZXUGHGDV%HLERRWLQHLQHNXJHOI|UPLJH:RONHJHKOOWGLHDXV 0\ULDGHQ ]XFNHQGHU /LFKWEOLW]H ]X EHVWHKHQ VFKLHQ GDQQ SDFNWH HLQ KHIWLJHV 6FKZLQGHOJHIKOGLH,3&%HDXIWUDJWH $OVHVQDFKOLHYHUVFKZDQGGLH:RONHDXV/LFKWEOLW]HQ²XQG$PXQ6LWDLVDK GDLKU%HLERRWLQHLQHU.XSSHOKDOOHVWDQG 'LH$XHQPLNURSKRQHVFKDOWHWHQVLFKRKQHLKU=XWXQDQ ³6WHLJHQ6LHDXVVDJWHGLHHPRWLRQVORVH6WLPPH $PXQ6LWDLJHKRUFKWH

$OVVLHGDV%HLERRWYHUODVVHQKDWWHOHXFKWHWHYRULKUHLQEODXHU/LFKWSXQNWLQGHU /XIWDXI ³)ROJHQ6LHGHP/LFKWSXQNWEHIDKOGLHHPRWLRQVORVH6WLPPH 'LH ,3&%HDXIWUDJWH JHKRUFKWH DXFK GLHVPDO 'HU EODXH /LFKWSXQNW ZDQGHUWH YRULKUKHUDXVGHU.XSSHOKDOOHKLQDXVGXUFK6FKRWWHGLHVLFKYRULKU|IIQHWHQ XQGVLFKKLQWHULKUZLHGHUVFKORVVHQ]ZHLPDOHLQHQ$QWLJUDYOLIWXQGVFKOLHOLFK LQ HLQHQ JURHQ QFKWHUQ ZLUNHQGHQ 5DXP KLQHLQ DQ GHVVHQ :lQGHQ ]DKOORVH /LFKWSXQNWHEOLQNWHQ $PXQ6LWDLIUDJWHVLFKREVLHMHW]W6XSHUFRQWUROJHJHQEHUVWQGHGDVSUWHVLH ZLH XQVLFKWEDUH *UHLIHU VLH HUIDWHQ KRFKKREHQ XQG LQ HLQH KRUL]RQWDOH /DJH PLWWHQLQGHU/XIWGUHKWHQ ³:DVVROOGDV"IUDJWHVLH 8QG PHUNWH QXU QRFK ZLH HLQH XQZLGHUVWHKOLFKH 0GLJNHLW YRQ LKU %HVLW] HUJULII )LQVWHUQLVVFKOXJEHULKUHP%HZXWVHLQ]XVDPPHQ (ULQQHUXQJHQ WDXFKWHQ DXI XQG JLQJHQ ZLHGHU XQWHU ² PDO VFKHPHQKDIW YHUZDVFKHQ PDO NODU XQG GHXWOLFK XQG PDQFKPDO VR EL]DUU DOV ZlUHQ VLH QXU 7UlXPH $PXQ6LWDLIORJLQLKUHU3$51$;(GXUFKGLHDEJUXQGWLHIH'XQNHOKHLWGLHGDV 8QLYHUVXP]XVDPPHQKLHOW 6LH ZXWH QLFKW PHKU ZLH ODQJH VLH VFKRQ XQWHUZHJV ZDU XQG ZLH ODQJH VLH LQVJHVDPWXQWHUZHJVVHLQZUGH6LHZXWHQXUQRFKGDGLH3$51$;(HLQH 0RUXVSKlUH GLH LKU *HERUJHQKHLW :l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hEHUIDOO HLQHP 6WXU] GXUFK HLQ 6WHUQHQWRU XQG YRQ 'URLGHQ VDJWHQ GLH GLH 0RUXVSKlUH ]HUVW|UHQ ZROOWHQ XP $PXQ6LWDL LQ LKUH *HZDOW ]X EULQJHQ 6FKOLHOLFK ZDU GLH 3$51$;( JHVWRUEHQ :DV XQPLWWHOEDU GDUDXI IROJWH ZDU GHPHZLJHQ9HUJHVVHQSUHLVJHJHEHQZRUGHQ $PXQ6LWDL ZXWH DEHU GD HLQH *UXSSH YRQ 'URLGHQ LKU ]X HLQHP VSlWHUHQ =HLWSXQNW 2UJDQH HQWQRPPHQ XQG GXUFK DQGHUH 2UJDQH HUVHW]W KDWWH GLH LP $XVVHKHQ ]ZDU LKUHQ HLJHQHQ 2UJDQHQ JOLFKHQ DEHU SHUIHNWHU XQG YLHOVHLWLJHU IXQNWLRQLHUWHQ :HLOVLHVHPLN\EHUQHWLVFKH.RPSOH[HZDUHQ =XP 6FKOX ZXUGH $PXQ6LWDLV .|USHU LQ HLQH )ROLH HLQJHVFKODJHQ GLH VLH

VFKHLQEDU HUVWLFNHQ ZROOWH GDQQ MHGRFK ]X HLQHU ZRKOWlWLJHQ 6\PELRVH PLW LKU YHUVFKPRO]GLH;HQR.RPELQDWLRQ $OV$PXQ6LWDLV³%HKDQGOXQJYRUEHUZDUKDWWHHLQ'URLGH]XLKUJHVSURFKHQ (LQ&DQWDUR" $PXQ6LWDL ZXWH HV QLFKW PHKU JHQDX 6LH ZXWH DXFK QLFKW PHKU YLHO YRQ GHPZDVGHU'URLGHLKUPLWJHWHLOWKDWWHQXUGDVLHQXQPHKUYRQVHLQHP9RON DGRSWLHUWZDUXQGGHPQlFKVWHLQHHKUHQYROOH$XIJDEH]XJHWHLOWEHNlPH :HOFKHU $UW GLHVH $XIJDEH ZDU HUIXKU $PXQ6LWDL QLH GHQQ NXU] QDFK GLHVHU 0LWWHLOXQJKDWWHQVLFKULQJVXPVLHKHIWLJH.lPSIHDEJHVSLHOW =ZHL KRPLQLGH ,QWHOOLJHQ]ZHVHQ ZDUHQ HUVFKLHQHQ XQG KDWWHQ $PXQ6LWDL PLW DXILKUH'DNNDUUDXP3ODWWIRUPJHQRPPHQ 6LONH0DGG\VRQXQG%UDN6KDQVRQ =XVDPPHQPLWLKQHQVRZLHPLWGHQ%DNWHQXQG7UXQKGHU*22/$56$1ZDU $PXQ6LWDL DEHUPDOV GXUFK GLH DEJUXQGWLHIH 'XQNHOKHLW JHIORJHQ GLH GDV 8QLYHUVXP ]XVDPPHQKLHOW ,UJHQGZDQQ KDWWH GLH 2UWXQJ DXI HLQHP 3ODQHWHQ GHVVHQ :HJ VLH ]XIlOOLJ NUHX]WHQ HLQH *HKHLPVWDWLRQ HQWGHFNW GLH YRQ GHQ %DNWHQXQG7UXQKDOV6WDWLRQGHV%|VHQEH]HLFKQHWZRUGHQZDU 6LONH XQG %UDN ZDUHQ QDFK $XVZHUWXQJ GHU )HUQDQDO\VHQ ]X GHP 6FKOX JHNRPPHQGDGLHVH6WDWLRQJURHV8QKHLOKHUDXIEHVFKZ|UHQZUGHZHQQHV QLFKW JHODQJ LKU SVLRQLVFKHV 3URJUDPP ]X O|VFKHQ 'D]X DEHU PXWH MHPDQG PLW +LOIH HLQHU 3HGR.DSVHO LQ GLH 6WDWLRQ HLQGULQJHQ XQG GHQ :lFKWHU HLQH V\QWURQLVFKELRQLVFKH6\QWKRLQWHOOLJHQ]DXVVFKDOWHQ 'DV0ROHNXODUJHKLUQGHU*22/$56$1HUUHFKQHWHGDGLHVH$XIJDEHZHGHU YRQ6LONHXQG%UDNQRFKYRQGHQ%DNWHQXQG7UXQKJHO|VWZHUGHQNRQQWH'D]X ZlUHQXU$PXQ6LWDLLQIROJHLKUHU&DQWDUR0DQLSXOLHUXQJIlKLJ $OVR JLQJ $PXQ6LWDL DQ %RUG HLQHU 3HGR.DSVHO XQG OLH VLFK PLWWHQ LQ GLH 6WDWLRQGHV%|VHQDEVWUDKOHQ $XV ELVKHU XQEHNDQQWHU 8UVDFKH PXWHQ MHGRFK SO|W]OLFK LKUH EHVRQGHUHQ )lKLJNHLWHQ YHUVDJW KDEHQ 'DGXUFK ZDU VLH LQV GLPHQVLRQDO EHUJHRUGQHWH $EZHKUQHW]GHV:lFKWHUVHLQHVRJHQDQQWH(QGORV6FKOHLIHJHUDWHQXQGYRQLKU LQHLQHQVLFKHZLJZLHGHUKROHQGHQ.UHLVJHVFKLFNWZRUGHQ *HIDQJHQHELVLQDOOH(ZLJNHLW %LV VLFK HLQ DQGHUHV 2SIHU LP $EZHKUQHW] ILQJ GDV )lKLJNHLWHQ EHVD PLW GHUHQ+LOIHHV$PXQ6LWDLP|JOLFKJHZHVHQZDUVLFKLQGHQ3HGR7UDQVPLWWHU LKUHU3HGR.DSVHO]XUHWWHQXQGLQGLH*22/$56$1DEVWUDKOHQ]XODVVHQ :RVLFKGDQQKHUDXVVWHOOWHGD$PXQ6LWDL-DKUHYHUORUHQKDWWH ³+LHU LVW 6XSHUFRQWURO IOVWHUWH HLQH 6WLPPH LQ $PXQ6LWDLV %HZXWVHLQ ³9HUVWHKHQ6LHPLFK$PXQ6LWDL" $PXQ6LWDL DQWZRUWHWH QLFKW QLFKW HLQPDO LQ *HGDQNHQ ,KU %HZXWVHLQ ZDU YROODXIGDPLWEHVFKlIWLJWKHUDXV]XEHNRPPHQZRVLHVLFKEHIDQG 6LH JODXEWH VLFK DQ HLQHQ JURHQ QFKWHUQ ZLUNHQGHQ 5DXP ]X HULQQHUQ DQ GHVVHQ:lQGHQ]DKOORVH/LFKWSXQNWHEOLQNWHQ 'RFKLQGLHVH(ULQQHUXQJKLQHLQGUlQJWHVLFKGLH9RUVWHOOXQJHLQHV%URQ]HWRUV

PLW HLQHP 5HOLHI GDUDXI GDV GLH XQGHXWOLFKHQ .RQWXUHQ HLQHV *HVLFKWV ]HLJWH /LFKW XQG 6FKDWWHQ VSLHOWHQ GDUEHU KLQZHJ XQG YHUPLWWHOWHQ DEZHFKVHOQG GHQ (LQGUXFNWRWDOHU)UHPGDUWLJNHLWXQGJUHQ]HQORVHU9HUWUDXWKHLW ³+LHU LVW 6XSHUFRQWURO VDJWH HLQH PHWDOOLVFK NOLQJHQGH 6WLPPH ³$PXQ6LWDL 6LH ZXUGHQ EHUSUIW XQG DOV GHVWDELOLVLHUHQGHU )DNWRU HLQJHVWXIW 'HVKDOE ZXUGHHQWVFKLHGHQ6LHDXV]XVFKDOWHQ %OHLFKHV /LFKW ILHO DXI GDV %URQ]HWRU YHUZDQGHOWH GDV *HVLFKWVUHOLHI LQ HLQH E|VDUWLJH)UDW]H(VOLHDEHUDXFKGDV7RUGXUFKVLFKWLJZHUGHQ²XQG]ZLVFKHQ GHQ/LQLHQGHV*HVLFKWVZDUHLQHHQGORVHVWXUPGXUFKWRVWH:VWH]XVHKHQEHU GHU SIHLOVFKQHOO GXQNOH 6FKHPHQ PLW VLFKHOI|UPLJ JHNUPPWHQ )OXJKlXWHQ GDKLQMDJWHQ ³6LHZHUGHQQLFKWVWHUEHQKlPPHUWHGLHLPPHUPHWDOOLVFKHUNOLQJHQGH6WLPPH YRQ 6XSHUFRQWURO ³'D]X LVW ,KU .|USHU ]X ZHUWYROO 'DV )HKOHQ MHJOLFKHQ /LPELVFKHQ 6\VWHPV XQG HLQHV *OREXV SDOOLGXV JLEW ]XGHP 5lWVHO DXI GLH LUJHQGZDQQ JHO|VW ZHUGHQ PVVHQ DXFK ZHQQ GLH hEHUSUIXQJ GLHVPDO NHLQH $QWZRUW DXI GLHVH $QRPDOLHQ HUJDE ,KUH H[WUHP GLFKW JHSDFNWHQ *URKLUQZLQGXQJHQ XQG GHU TXDVLELRSKRULVFKH .RPSOH[ GDULQ TXDOLIL]LHUHQ GLHVHQ.|USHUDOV7UlJHUGHV%HZXWVHLQVHLQHVSRWHQWLHOOHQ=HLWNRRUGLQDWRUV )ROJHQGHV ZLUG JHVFKHKHQ ,KUH GHU]HLWLJH 3HUV|QOLFKNHLW ZLUG JHO|VFKW ,KU .|USHUZLUGPLWHLQHU3VHXGR3HUV|QOLFKNHLWDXVJHVWDWWHWGLHQDFKXQGQDFK]X HLQHU YROOZHUWLJHQ QHXHQ 3HUV|QOLFKNHLW DXIJHEDXW ZLUG 'LHVHU 3UR]H ZLUG LQ GHP 0RPHQW DEJHVFKORVVHQ LQ GHP %HGDUI IU HLQHQ QHXHQ =HLWNRRUGLQDWRU EHVWHKWGHUGDQQGHQ1DPHQ$PXQ6LWDLWUDJHQVROO 'DV %URQ]HWRU OHXFKWHWH LQ NDOWHP *OKHQ DXI GDQQ VFKOXJ HLQH 0DFKW ]X JHJHQ GLH HV NHLQHQ :LGHUVWDQG JDE $OOH 6\QDSVHQ |IIQHWHQ VLFK ZHLW NDOHLGRVNRSLVFK ZHFKVHOQGH %LOGHU *HUlXVFKH XQG *HIKOVHPSILQGXQJHQ VSXOWHQVLFKPLWLPPHUJU|HUHU*HVFKZLQGLJNHLWUFNZlUWVDE (LQJHOOHQGHU6FKUHLHUW|QWH 'HU7RGHVVFKUHLYRQ$PXQ6LWDLV3HUV|QOLFKNHLW $OOH 6\QDSVHQ VFKORVVHQ VLFK GDQQ |IIQHWHQ VLH VLFK ZLHGHU 'DV %URQ]HWRU ]HUVSUDQJ LQ WDXVHQG 6WFNH +XVFKHQGH 6FKDWWHQ GUlQJWHQ VLFK GXUFK GLH gIIQXQJ 'LH .RQWDNWVWHOOHQ ]ZLVFKHQ GHQ 1HUYHQ]HOOHQ QRUPDOLVLHUWHQ VLFK DOOPlKOLFK ZLHGHU ZlKUHQG GLH 6FKDWWHQ VLFK GXUFK GLH *HKLUQZLQGXQJHQ VFKOlQJHOWHQ XQG GHP DQVFKHLQHQG EHVLW]ORVHQ .|USHU LKUH 3VHXGR 3HUV|QOLFKNHLWDXIVFKDOWHWHQ %LV VLH DQ GHQ TXDVLELRSKRULVFKHQ .RPSOH[ JHULHWHQ XQG DXFK EHU LKQ GLH +HUUVFKDIWDQWUHWHQZROOWHQ 2KQHHV]XDKQHQZHFNWHQVLHGDEHLHWZDVGDVELVKHU]XU3DVVLYLWlWYHUXUWHLOW JHZHVHQZDU$EHUVLHPHUNWHQHVQLFKW 'HQQ GDV ZDV GD HUZDFKW ZDU UHDJLHUWH QLFKW PLW HLQHP 6FKUHL ZLH $PXQ 6LWDLVHUO|VFKHQGH3HUV|QOLFKNHLW(VJULIIODXWORVXQGGDGXUFKXPVRZLUNVDPHU DQ $OOHUGLQJV W|WHWH HV GLH VFKDWWHQKDIWH 3VHXGR3HUV|QOLFKNHLW LQ $PXQ6LWDLV .|USHUQLFKW(V]ZDQJLKUQXUVHLQHQ:LOOHQDXI

'HQQHVEUDXFKWHGLH6FKDWWHQQRFK²ELVHVKHUDXVJHIXQGHQKDWWHZHUXQGZDV HVZDUZRKHUHVNDPXQGZDVVHLQ=LHOZDU ³$PXQ6LWDL 6LHK|UWHGLHHPRWLRQVORVH6WLPPHYRQ6XSHUFRQWUROUHDJLHUWHDEHUQRFKQLFKW ,QLKUNlPSIWHQZLGHUVWUHLWHQGH*HIKOHPLWHLQDQGHU 'D ZDU LKUH XUHLJHQVWH 3HUV|QOLFKNHLW GLH LQ HLQHP ELRSKRULVFKHQ .RPSOH[ JHIDQJHQJHZHVHQZDUGHU]XP.|USHU$PXQ6LWDLVJHK|UWKDWWH $PXQ6LWDLV 3HUV|QOLFKNHLW ZDU GXUFK HLQHQ EUXWDOHQ $NW YRQ 6XSHUFRQWURO DXVJHO|VFKW ZRUGHQ 1LFKW WRWDO GHQQ 6XSHUFRQWURO ZDU RIIHQNXQGLJ ]ZDU PlFKWLJDEHUQLFKWDOOPlFKWLJ (WZDV YRQ $PXQ6LWDLV 3HUV|QOLFKNHLW KLQJ QRFK DQ MHGHU HLQ]HOQHQ .|USHU]HOOHEHVRQGHUVDEHUDQMHGHU=HOOHGHVKRFKHQWZLFNHOWHQ2UJDQVGDVDXV :DVVHU /LSLGHQ (LZHL XQG HLQ ZHQLJ .RKOHQK\GUDWHQ JHELOGHW ZXUGH EHVRQGHUV VWRIIZHFKVHODNWLY ZDU XQG VLFK GXUFK KRKHQ *OXNRVHXPVDW] XQG KRKHQ6DXHUVWRIIYHUEUDXFKDXV]HLFKQHWHGDV*HKLUQ (V ZDUHQ QXU hEHUUHVWH GHU DOWHQ 3HUV|QOLFKNHLW GLH HLQHQ LPPDWHULHOOHQ 6FKOHLHU HU]HXJWHQ GXUFK GHQ GLH DXV GHP ,QWHUQ.RPSOH[ EHIUHLWH DQGHUH 3HUV|QOLFKNHLWELVKHUQXUXQGHXWOLFKKLQGXUFKOHXFKWHWH²QRFKQLFKWIlKLJVLFK NODU]XHUNHQQHQ 'RFKGLHhEHUUHVWHGHUDOWHQ3HUV|QOLFKNHLWZUGHQPLWGHU=HLWPHKUXQGPHKU YHUEODVVHQ XQG VFKOLHOLFK JDQ] HUO|VFKHQ ,P JOHLFKHQ 0D VR KRIIWH GLH EHIUHLWH3HUV|QOLFKNHLWZUGHVLHVLFKVWDELOLVLHUHQXQGVLFKLKUHUVHOEVWEHZXW ZHUGHQ %LVKHU KDWWH VLH OHGLJOLFK GLH YDJH $KQXQJ HWZDV PLW HLQHP :HVHQ ]X WXQ ]X KDEHQGDV%DVWKHWLVZDUGLH.DW]HQN|QLJLQ ³$PXQ6LWDL'LHVPDOZDUGHU5XI6XSHUFRQWUROVGUlQJHQGPDKQHQG 6LH ZXWH VLH ZUGH EDOG DQWZRUWHQ PVVHQ VRQVW ZUGH 6XSHUFRQWURO DUJZ|KQLVFKZHUGHQXQGHLQHQHXHhEHUSUIXQJYHUDQODVVHQ ,KUJU|WHV3UREOHPEHVWDQGDOOHUGLQJVGDULQGDVLHVLFKZHLWHUKLQLP.|USHU YRQ $PXQ6LWDL EHIDQG GHU QLFKW LKU XUHLJHQVWHU .|USHU ZDU XQG GD VLH 6XSHUFRQWURO YRUVSLHJHOQ PXWH VLH ZlUH GLH 3VHXGR3HUV|QOLFKNHLW GLH 6XSHUFRQWUROLQ$PXQ6LWDLV.|USHULQVWDOOLHUW]XKDEHQJODXEWH -HQHIDOVFKH3HUV|QOLFKNHLWGLHVLFKDOV$PXQ6LWDLYHUVWHKHQVROOWHREZRKOVLH QLHPDOV $PXQ6LWDL VHLQ RGHU ZHUGHQNRQQWH GHQQ HLQH JHO|VWH 3HUV|QOLFKNHLW EHIDQGVLFKMHQVHLWVDOOHUYRUVWHOOEDUHQ([LVWHQ] ³,FKK|UHVDJWHVLHPLW$PXQ6LWDLV0XQG³:DVEHIHKOHQ6LHPLU" ³6DJHQ6LHPLUZHULFKELQ"IRUGHUWH6XSHUFRQWURO ³6LH VLQG GLH =HQWUDOH .RQWUROOVWHOOH GHV (ZLJHQ =HLWLPSHULXPV DQWZRUWHWH %DVWKHWLVZlKUHQGVLHYHU]ZHLIHOWXPPHKU6HOEVWHUNHQQWQLVNlPSIWH³,QIHUQHU 9HUJDQJHQKHLWJDEHVHLQH=LYLOLVDWLRQGLHLKUH5RKVWRIIYRUUlWHHUVFK|SIWKDWWH EHYRU HV LKU JHOXQJHQ ZDU HLQH QHQQHQVZHUWH 5DXPIDKUW ]X HQWZLFNHOQ PLW GHUHQ +LOIH VLH VLFK 5RKVWRIIH YRQ DQGHUHQ XQEHZRKQWHQ :HOWHQ EHVFKDIIHQ NRQQWH %DVWKHWLV DQWZRUWHWH ZlKUHQG LKU GLHVH ,QIRUPDWLRQHQ DXV GHU SDUDO\VLHUWHQ

3VHXGR3HUV|QOLFKNHLW]XIO|VVHQ ³'LH 8U]LYLOLVDWLRQ ZDU LQIROJH GHU $EVWDPPXQJ LKUHU 7UlJHU DXV UHSWLOLVFKHQ 7LHUHQ VR RUJDQLVLHUW GD GHP 'UDQJ GHV ,QGLYLGXXPV ]X 0DFKW XQG SHUV|QOLFKHU %HUHLFKHUXQJ HLQ ZHLWHU 6SLHOUDXP HLQJHUlXPW ZDU 'DV YHUKLQGHUWH HLQ UHFKW]HLWLJHV 8PGHQNHQ GXUFK GDV DOOHLQ GLH ]JHOORVH $XVEHXWXQJ GHV JDQ]HQ 3ODQHWHQ KlWWH YHUKLQGHUW ZHUGHQ N|QQHQ XQG HLQH 5DXPIDKUW UHFKW]HLWLJ VR ZHLW HQWZLFNHOW ZRUGHQ ZlUH GD HLQ =XJULII DXI 5RKVWRIIHIHUQHU3ODQHWHQGHQ%HVWDQGGHU$UWKlWWHVLFKHUQN|QQHQ 6RMHGRFKNDPHV]XU9HUVHXFKXQJGHU$WPRVSKlUH]XP8PNLSSHQGHU0HHUH XQG ]X NDWDVWURSKDOHQ .OLPDYHUlQGHUXQJHQ 'LH 8U]LYLOLVDWLRQ VFKLHQ GHP 8QWHUJDQJJHZHLKW 'D HUIDQG HLQ JHQLDO EHJDEWHU 9HUWUHWHU MHQHU XQJOFNVHOLJHQ 6SH]LHV GHQ =HLWSKDVHQDQJOHLFKHU(UEHGHXWHWHGLH5HWWXQJXQG]XP*OFNZXUGHQVHLQH 0|JOLFKNHLWHQ YRQ GHQ KHUUVFKHQGHQ .UlIWHQ GHV JHVFKXQGHQHQ 3ODQHWHQ UHFKW]HLWLJHUNDQQWXQGNRQVHTXHQWJHQXW]W 0LW +LOIH GHV =HLWSKDVHQDQJOHLFKHUV NRQQWHQ DXI +XQGHUWHQ YHUVFKLHGHQHU =HLWHEHQHQXQG3DUDOOHO]HLWHEHQHQKHLPOLFKH=HLWNRORQLHQLQVWDOOLHUWZHUGHQGLH %RGHQVFKlW]H LP hEHUIOX JHZDQQHQ XQG ]XU +DXSW]HLWZHOW VFKLFNWHQ GLH GXUFK VLH GHV =ZDQJHV HQWKREHQ ZXUGH LKUH 1DWXU GXUFK GLH 9HUQLFKWXQJ GHU KHUUVFKHQGHQ6SH]LHVXQGLKUHU=LYLOLVDWLRQ]XUHWWHQ /HLGHUlQGHUWHVLFKGLH0HQWDOLWlWMHQHU6SH]LHVQLFKWVRVFKQHOOZLHGLHQHXHQ ZLUWVFKDIWOLFKHQ 0|JOLFKNHLWHQ XQG =XNXQIWVSHUVSHNWLYHQ ([SORGLHUHQGHU :RKOVWDQG6HOEVWVXFKWXQG5LYDOLWlWVGHQNHQSHUYHUWLHUWHQGLH(QWZLFNOXQJ ,PPHU PHKU :HOWHQ ZXUGHQ ]X +DXSW]HLWZHOWHQ HUNOlUW YRQ GHQHQ DXV LPPHU PHKU DQGHUHQ =HLWHEHQHQ XQG 3DUDOOHO]HLWHEHQHQ =HLWNRORQLHQ JHJUQGHW XQG VNUXSHOORV DXVJHEHXWHW ZXUGHQ 1LHPDQG NPPHUWH VLFK ]X MHQHU =HLW XP GLH ZHLWHUH(QWZLFNOXQJGHUDXVJHSRZHUWHQ:HOWHQDXIGHQHQYLHOIDFKLQWHOOLJHQWH 6SH]LHVH[LVWLHUWHQGLH]ZDUXQWHUHQWZLFNHOWZDUHQDEHUGXUFKDXVGDVJHLVWLJH 3RWHQWLDO EHVDHQ XP VLFK K|KHU ]X HQWZLFNHOQ XQG HLJHQH =LYLOLVDWLRQHQ DXI]XEDXHQ $OOHVJHULHWDXHU.RQWUROOH'LHULYDOLVLHUHQGHQ+DXSW]HLWZHOWHQJLQJHQLPPHU ZHLWHULQGLH9HUJDQJHQKHLW]XUFNXPLKUHQ+XQJHUQDFK5RKVWRIIHQ]XVWLOOHQ GHUOlQJVW]XPEORHQ3URILWKXQJHUHQWDUWHWZDU (VNDPZLHHVXQWHUVROFKHQ8PVWlQGHQNRPPHQPXWH9LHOH+DXSW]HLWZHOWHQ PXWHQLUJHQGZDQQHUNHQQHQGDVLHLQIHUQHU9HUJDQJHQKHLWGLH3ODQHWHQLKUHU ZLFKWLJVWHQ5RKVWRIIHEHUDXEWKDWWHQDXIGHQHQVLHLQGHU+DXSW]HLWH[LVWHUWHQ 3O|W]OLFKYHUDUPWHQ+DXSW]HLWZHOWHQ]X7DXVHQGHQ 'LH )ROJH ZDU GHU *URH 3DUD]HLWNULHJ HLQ 9HUWHLOXQJVNULHJ XP GLH YHUPHLQWOLFK OHW]WHQ 5HVHUYHQ DQ 5RKVWRIIHQ $UEHLWVVNODYHQ XQG JHQHWLVFKHQ 3RWHQWLDOHQ XQEHUKUWHU :HOWHQ (U ZlUH DEVROXW XQQ|WLJ JHZHVHQ KlWWHQ GLH +HUUVFKHU GHU GDPDOLJHQ +DXSW]HLWZHOWHQ VLFK ]XVDPPHQJHVHW]W XQG PLW +LOIH GHU EHVWHQ :LVVHQVFKDIWOHU XQG &RPSXWHU VWUHQJ ORJLVFK EHU LKUH 3UREOHPH QDFKJHGDFKW (UVW GDV GXUFK GHQ *URHQ 3DUD]HLWNULHJ DXVJHO|VWH &KDRV LQ GHVVHQ

5HYROXWLRQHQDOOHKHUUVFKHQGHQ5HJLHUXQJHQJHVWU]WXQGGLHPHLVWHQ+HUUVFKHU GHP9RONV]RUQJHRSIHUWZXUGHQHU|IIQHWHGLH0|JOLFKNHLW]XU1HXEHVLQQXQJ 6XSHUFRQWURO ZXUGH JHVFKDIIHQ GLH ]HQWUDOH (QWVFKHLGXQJV XQG .RRUGLQLHUXQJVVWHOOH IU DOOH NQIWLJHQ =HLWRSHUDWLRQHQ 6XSHUFRQWURO EUDFKWH 2UGQXQJ LQ GLH $XVEHXWXQJ YRQ =HLWNRORQLHQ XQG VWHOOWH DOOH HQWVSUHFKHQGHQ $NWLYLWlWHQ DXI HLQH ORJLVFK IXQGLHUWH ZLVVHQVFKDIWOLFKH %DVLV $OOHV ZDV GDJHJHQYHUVWLHZXUGHDXVJHVFKDOWHW 6XSHUFRQWURO VFKXI DXFK GDV $PW GHV =HLWNRRUGLQDWRUV GHQQ GLH (UIDKUXQJHQ ]HLJWHQ GD GLH ,QWHOOLJHQ]HQ GHV =HLWLPSHULXPV GLH YRQ 6XSHUFRQWURO HUODVVHQHQ *HVHW]H XQG $QZHLVXQJHQ ZLOOLJHU EHIROJWHQ ZHQQ VLH LKQHQ YRQ HLQHP ELRORJLVFK HQWVWDQGHQHQ :HVHQ JOHLFKHU RGHU YHUZDQGWHU $UW YHUNQGHW ZXUGHQ6LHPVVHQVLFKPLWGHP=HLWNRRUGLQDWRULGHQWLIL]LHUHQN|QQHQXQGHU PX&KDULVPDKDEHQGDPLWVLHLKPEHGLQJXQJVORVIROJHQ :lKUHQG%DVWKHWLVDXIVDJWHZDVLQGHU3VHXGR3HUV|QOLFKNHLW$PXQ6LWDLVDOV %DVLV(ULQQHUXQJ YHUDQNHUW ZDU HUNDQQWH VLH GD RKQH GLH ([LVWHQ] YRQ 6XSHUFRQWURO ZDKUVFKHLQOLFK 7DXVHQGH YRQ =LYLOLVDWLRQHQ LP &KDRV YHUVXQNHQ ZlUHQ *OHLFK]HLWLJ DEHU PXWH VLH DXFK HLQVHKHQ GD GHU YRQ 6XSHUFRQWURO HLQJHVFKODJHQH :HJ YHUKlQJQLVYROO ZDU GHQQ HU EHGHXWHWH GLH LPPHU VWlUNHUH 0DQLSXOLHUXQJ 7DXVHQGHU =LYLOLVDWLRQHQ PLW +LOIH GHV =HLWNRRUGLQDWRUV GHU OHW]WHQ (QGHV QXU HLQH 0DULRQHWWH YRQ 6XSHUFRQWURO ZDU GHQQ 6XSHUFRQWURO KDWWH QLFKW QXU GDV $PW GHV =HLWNRRUGLQDWRUV JHVFKDIIHQ VRQGHUQ DXFK GHQ HUVWHQXQGDOOHIROJHQGHQ=HLWNRRUGLQDWRUHQ ,QGHP VLH ,QWHOOLJHQ]HQ PLW KHUDXVUDJHQGHQ )lKLJNHLWHQ HLQILQJ LKUH 3HUV|QOLFKNHLWHQO|VFKWHXQGLKQHQ3VHXGR3HUV|QOLFKNHLWHQDXISUlJWHGLHTXDVL QLFKV DQGHUHV ZDUHQ DOV $EOHJHU LKUHU HLJHQHQ ZDKUVFKHLQOLFK V\QWKHWLVFKHQ 3HUV|QOLFKNHLW $XFK$PXQ6LWDLZDULQHLQHYRQ6XSHUFRQWURODXIJHVWHOOWH)DOOHJHJDQJHQXQG DEVLFKWOLFKDXIGLH+DXSW]HLWLQVHOKHUDXIJHKROWZRUGHQ 0LWGHPHLQ]LJHQ*UXQGXPVLHDOV(UVDW]IUGHQDPWLHUHQGHQ=HLWNRRUGLQDWRU YRU]XEHUHLWHQ 'LH1RWZHQGLJNHLW$PXQ6LWDLV3HUV|QOLFKNHLW]XO|VFKHQKDWWHVLFKGHPQDFK JDU QLFKW HUJHEHQ ZHLO VLH HLQ GHVWDELOLVLHUHQGHU )DNWRU IU GDV =HLWLPSHULXP JHZHVHQZDUVRQGHUQQXUDXVGHQSROLWLVFKHQ0RWLYHQ6XSHUFRQWUROVKHUDXV $OOHVZDUDXI/XJXQG7UXJDXIJHEDXW %DVWKHWLVEHJDQQ6XSHUFRQWURO]XKDVVHQ 8QGPLWWHQLQLKUHQ*HIKOVDXIUXKUKLQHLQVDJWHGLHDXWRPDWLVFKH6WLPPH ³'DV =HLWLPSHULXP KDW HLQHQ XQ]XUHLFKHQG TXDOLIL]LHUWHQ .RRUGLQDWRU 6HLQ &KDULVPD LVW ]X VFKZDFK XP GDV 9HUKlQJQLV DE]XZHQGHQ GDV GHQ +DXSW]HLWZHOWHQ GHV ,PSHULXPV GURKW 'HQQ HV NRPPW HLQH *HIDKU DXI VLH ]X JHJHQGLHDOOHIUKHUHQ*HIDKUHQDOVXQHUKHEOLFKHLQJHVWXIWZHUGHQPVVHQ 'LH *HIDKU GURKW YRQ ,QWHOOLJHQ]HQ GLH VLFK ]XU VRJHQDQQWHQ *HQHWLVFKHQ $OOLDQ] ]XVDPPHQJHVFKORVVHQ KDEHQ XQG GHUHQ (QG]LHO HV LVW GLH 'LYHUVLWlW DOVRGLH9HUVFKLHGHQKHLWEH]LHKXQJVZHLVH9LHOIDOWDOOHQ(UEJXWVLP.RVPRVDXI 1XOO ]X UHGX]LHUHQ XP GLH 9RUDXVVHW]XQJHQ ]XU *UQGXQJ HLQHU KRPRJHQHQ

XQLYHUVHOOHQ=LYLOLVDWLRQ]XVFKDIIHQ 'LHVH *HQHWLVFKH $OOLDQ] KDW GDV =HLWLPSHULXP HQWGHFNW XQG KlOW HV IU HLQH RSWLPDOH %DVLV ]XU (QWZLFNOXQJ XQG 'XUFKIKUXQJ LKUHU 3OlQH /HLGHU KDW VLH PLW LKUHQ VXEWLOHQ JHQWHFKQLVFKHQ 0LWWHOQ VFKRQ YLHO +DXSW]HLWZHOWHQ XQWHUZDQGHUWXQGLVWGDEHLGLH$XWRULWlWGHVDPWLHUHQGHQ=HLWNRRUGLQDWRUVXQG YRQ6XSHUFRQWURO]XXQWHUJUDEHQ :LU VLQG GLH OHW]WH %DVWLRQ GHU )UHLKHLW :HQQ HV GHU *HQHWLVFKHQ $OOLDQ] JHOLQJHQ VROOWH XQV ]X ]HUVFKPHWWHUQ GDQQ VWHKW GHU 'XUFKVHW]XQJ LKUHV /DQJ]HLWSODQV QLFKWV PHKU LP :HJ XQG GDQQ ZUGH XQVHU 8QLYHUVXP LQ DEVHKEDUHU =HLW QLFKW PHKU YRQ 9LHOIDOW EHY|ONHUW ZHUGHQ VRQGHUQ YRQ HLQHU KRPRJHQHQ 0DVVH DXV 2UJDQLVPHQ GLH DQ GHU HLJHQHQ (LQW|QLJNHLW ]XJUXQGH JLQJH 0LQXWHQODQJ VFKZLHJ 6XSHUFRQWURO XQG EHUOLH %DVWKHWLV LKUHP QHXHUOLFKHQ *HIKOVDXIUXKU $OV 6XSHUFRQWURO ZLHGHU VSUDFK NODQJ LKUH 6WLPPH QLFKW PHKU JDQ] VR HPRWLRQVORVZLH]XYRU ³1XUGXPLWGHLQHQEHUUDJHQGHQ)lKLJNHLWHQXQGPLWGHP&KDULVPDGDVLQGLU VFKOXPPHUWXQGQDFKXQGQDFKGXUFKEUHFKHQZLUGNDQQVWGLH=LYLOLVDWLRQHQGHV =HLWLPSHULXPV DXV LKUHU /HWKDUJLH UHLHQ XQG IU HLQHQ .ULHJ PRWLYLHUHQ GHU ]ZDU-DKUWDXVHQGHODQJGDXHUQNDQQXQG0\ULDGHQYRQ2SIHUQIRUGHUQZLUGGHU DEHUZHQQZLUVLHJUHLFKDXVLKPKHUYRUJHKHQGLH5HWWXQJIUGLH9LHOIDOWGHU *HVWDOWHQXQGGHV*HLVWHVLP8QLYHUVXPEHGHXWHW'XELVWGD]XDXVHUZlKOWGDV 8QLYHUVXP]XUHWWHQ$PXQ6LWDL 6XSHUFRQWURO VFKZLHJ XQG QDFK HLQHU :HLOH VSUWH %DVWKHWLV GD GLH V\QWKHWLVFKH ,QWHOOLJHQ] VLFK JDQ] ]XUFNJH]RJHQ KDWWH XP GHU 3VHXGR 3HUV|QOLFKNHLW$PXQ6LWDLV=HLWGD]X]XJHEHQGLH:RUWHYRQ6XSHUFRQWURODXI VLFKHLQZLUNHQ]XODVVHQ 8QGGHVVHQ$UJXPHQWH]XGHQHLJHQHQ]XPDFKHQ $UJXPHQWHGHUHQ/RJLNVLFKGLH3HUV|QOLFKNHLWGLHVLFKIUGLH.DW]HQN|QLJLQ KLHOWQLFKWYHUVFKOLHHQNRQQWH 9RUGHUHQ6FKOXIROJHUXQJHQVLHDEHUHQWVHW]W]XUFNVFKUHFNWHGHQQVLHKlWWHQ QLFKWQXU%OXWXQG7UlQHQIU0\ULDGHQYRQ=LYLOLVDWLRQHQEHGHXWHWVRQGHUQDP (QGHDXFKHLQH$XVEUHLWXQJGHV=HLWLPSHULXPVEHUGDVJDQ]H8QLYHUVXPXQG HLQHXQYRUVWHOOEDUH0DFKWVWHOOXQJIU6XSHUFRQWURO 8QG GDPLW OHW]WHQ (QGHV QLFKWV %HVVHUHV DOV GDV ZDV GLH *HQHWLVFKH $OOLDQ] DQVWUHEWH VRQGHUQ QXU HWZDV DQGHUHV GDV DEHU HEHQVR VFKOHFKW XQG W|GOLFK IU GLH(YROXWLRQGHV%HZXWVHLQVLP8QLYHUVXPVHLQZUGH '(5.5,(*(5921+257$&+ (LQVWZDUHVHLQ$OSWUDXPJHZHVHQMHW]WZDUHV5HDOLWlWGDV%URQ]HWRUPLWGHP 5HOLHIGDVGLHXQGHXWOLFKHQ.RQWXUHQHLQHV*HVLFKWV]HLJWH 6LHGLHVLFKDOV%DVWKHWLVHPSIDQGXQGGHQ.|USHUYRQ$PXQ6LWDLEHZRKQWH GHUHQ 3HUV|QOLFKNHLW DXVJHO|VFKW ZRUGHQ ZDU VWDQG YRU GHP 7RU XQG ZDUWHWH GDUDXIGDHVVLFK|IIQHWH

'HQQKLQWHULKPKRIIWHVLH6XSHUFRQWURO]XILQGHQGLHPlFKWLJVWHV\QWKHWLVFKH ,QWHOOLJHQ]GLHMHH[LVWLHUWKDWWHXQGGLHGDV=HLWLPSHULXPEHKHUUVFKWH (LQH)ROJHPHORGLVFKHU7|QHHUNODQJ 'DV %HZXWVHLQ LQ $PXQ6LWDLV .|USHU HUVWDUUWH 'LH 7|QH KDWWHQ HLQH ELVKHU VFKOXPPHUQGH6DLWHLQLKPDQNOLQJHQODVVHQ %DQVKHHURRPVDQJGLHVFKZLQJHQGH6DLWH'XELVW%DQVKHHURRPGLH:RKQXQJ GHU7RGHVIHH 1HLQ VFKULH GDV %HZXWVHLQ LQ $PXQ6LWDLV .|USHU ,FK ELQ %DVWKHWLV GLH .DW]HQN|QLJLQ 'XELVW%DQVKHHURRPGLH:RKQXQJLQGHUGLH7RGHVIHHKDXVWGLHDXVHUZlKOW ZXUGH XP GDV :HUN]HXJ GHU )LQVWHUQLV ]X YHUQLFKWHQ GDV GHQ 'HNDORJ GHU (OHPHQWHOHQNWXQG&KDRVLP8QLYHUVXPVlWVDQJGLH6DLWHXQEDUPKHU]LJ %DVWKHWLV VWDUUWH GDV 5HOLHI DXI GHP %URQ]HWRU DQ XQG ZHKUWH VLFK PLW DOOHQ .UlIWHQJHJHQGLHLQQHUH6WLPPHGLHLKUGDV/LHGYRQ7RGXQG9HUQLFKWXQJXQG 6FKOLPPHUHPVDQJ (V JHODQJ LKU VFKOLHOLFK VLH ]XP 9HUVWXPPHQ ]X EULQJHQ 'RFK ZlKUHQG GHV HUELWWHUWHQ.DPSIHVKDWWHQVLFKLKU%HJULIIHHLQJHSUlJWGLHVLHQLFKWZLHGHUDXV LKUHU(ULQQHUXQJ]XHQWIHUQHQPRFKWH 1DU]HVFKZDUHLQHUGLHVHU%HJULIIH:L QHLQDQGHUHU %DVWKHWLV IKOWH GD GLHVH %HJULIIH VFKLFNVDOKDIW IU VLH ZDUHQ REZRKO VLH VLH QLUJHQGVHLQRUGQHQNRQQWH (LVHVNlOWH NURFK LQ LKUH 6HHOH GXQNOH 6FKZLQJHQ VFKOXJHQ EHU LKUHP %HZXWVHLQ]XVDPPHQ6LHHUVFKDXGHUWH 'LH)ROJHPHORGLVFKHU7|QHEUDFKPLWHLQHP0LNODQJDE ³'XELVWXQNRQ]HQWULHUW$PXQ6LWDLVWHOOWHHLQH6WLPPHYRUZXUIVYROOIHVW 'LH6WLPPHYRQ6XSHUFRQWURO ³,FKIUFKWHPLFKHUNOlUWH%DVWKHWLVZDKUKHLWVJHPlGRFKLKUH:DKUKHLWZDU HLQHDQGHUHDOV6XSHUFRQWUROV:DKUKHLW ³'D]XEHVWHKWNHLQ*UXQGYHUVLFKHUWHGLH6WLPPH³7ULWWHLQ$PXQ6LWDL 'DV%URQ]HWRUVFKZDQJDXI'DKLQWHUZDUHVKHOO %DVWKHWLVJLQJLQGLH+HOOLJNHLWKLQHLQXQGVDKVLFKLQHLQHPZHLWHQXQGKRKHQ 5DXP JOHLFK GHP ,QQHUQ HLQHU .DWKHGUDOH *ROGHQH 6lXOHQ HQWVSUDQJHQ GHP %RGHQ]XEHLGHQ6HLWHQGHV0LWWHOVFKLIIVXQGYHUHLQLJWHQVLFKKRFKREHQ (LQ]HOKHLWHQZDUHQNDXP]XHUNHQQHQGHQQGDV/LFKWGDVDPDQGHUHQ(QGHGHU .DWKHGUDOHGXUFKIQIKRKHVFKPDOH)HQVWHUILHOZDUJUHOOXQGEOHQGHWH 8QZLOONUOLFKEOLHE%DVWKHWLVVWHKHQ ³.RPP QlKHU $PXQ6LWDL ORFNWH GLH 6WLPPH YRQ 6XSHUFRQWURO ³6LHK GLFK XP'DVLVWGDV+DXVDXVGHPGXGHUNQIWLJH=HLWNRRUGLQDWRUNRPPHQXQGLQ GDVGXZLHGHUHLQJHKHQZLUVWZHQQGHLQH=HLWDEJHODXIHQLVW %DVWKHWLV JLQJ ODQJVDP ZHLWHU /LQNV XQG UHFKWV NRQQWH VLH GD GDV EOHQGHQGH /LFKWGRUWKLQQLFKWUHLFKWHLQSUXQNYROODXVJHVWDWWHWHQ1LVFKHQGHU6HLWHQVFKLIIH JROGHQH 6DUNRSKDJH VWHKHQ VHKHQ DXI GHQHQ GLH DXV VFKZDU]HP 0DUPRU JHDUEHLWHWHQ OHEHQVJURHQ *DQ]ILJXUHQELOGQLVVH GHU 7RWHQ ODJHQ GLH LQ GHQ 6DUNRSKDJHQEHVWDWWHWZDUHQKRPLQLGH*HVWDOWHQHEHQVRZLHQLFKWKRPLQLGHXQG

3URWRIHOLQHQHEHQVRZLH3URWRVDXULGHQXQG3URWRXUVLQHQ %DVWKHWLV]lKOWHOLQNVXQGUHFKWVMH]Z|OI1LVFKHQ]ZHLYRQLKQHQZDUHQOHHU ³+LHUUXKHQGLHVWHUEOLFKHQ+OOHQGHU=HLWNRRUGLQDWRUHQGLHIUKHUGLH0DFKW GHV=HLWLPSHULXPVUHSUlVHQWLHUWHQHUNOlUWH6XSHUFRQWURO³+LHUZLUGDXFKGHLQH VWHUEOLFKH +OOH HLQVW ]XU OHW]WHQ 5XKH JHEHWWHW ZHUGHQ $PXQ6LWDL $EHU ELV GDKLQ YHUJHKHQ QRFK YLHOH -DKUWDXVHQGH GHQQ =HLWNRRUGLQDWRUHQ VLQG YLWDOVWDELOLVLHUW(LQODQJHV/HEHQOLHJWYRUGLUVRODQJXQGVRHUIOOWZLHGXHV LQGHLQHQNKQVWHQ7UlXPHQQLHKlWWHVWWUlXPHQN|QQHQ 'LH(UZlKQXQJGHV7UlXPHQVXQGGHU7UlXPHULDEUXSWXQGXQYHUKRIIWHLQHQ 6FKOHLHU EHLVHLWH GHU ]XVDPPHQ PLW DQGHUHQ 6FKOHLHUQ GDV %HZXWVHLQ LQ $PXQ6LWDLV.|USHUYHUGHFNWKDWWH (VDKQWHSO|W]OLFKGDHVLUJHQGZDQQIUKHUGHU6LQQVHLQHU([LVWHQ]JHZHVHQ ZDU]XWUlXPHQ ³9LHOH WDXVHQG -DKUH ZDUHQ ZLH HLQ 7DJ IOVWHUWH %DVWKHWLV XQG ZXUGH VLFK VFKPHU]KDIW EHZXW GD %DVWKHWLV QXU HLQ YRUGHUJUQGLJHU 7HLO LKUHU 3HUV|QOLFKNHLW ZDU KLQWHU GHP %DQVKHHURRP ODXHUWH GLH :RKQXQJ GHU 7RGHVIHH ³,P QDFKKLQHLQ ZHUGHQ YLHOH WDXVHQG -DKUH ZLH HLQ 7DJ VHLQ EHVWlWLJWH 6XSHUFRQWURO DKQXQJVORV ³$EHU HLQ =HLWNRRUGLQDWRU NDQQ DXFK DQ HLQHP HLQ]LJHQ 7DJH YLHOH 0LOOLRQHQ -DKUH HUOHEHQ 'DQN GHP XUDOWHQ 1HW] GHU 6FKZDU]HQ 6WHUQHQVWUDHQ GDV ZLU HQWGHFNW UHVWDXULHUW XQG PRGLIL]LHUW KDEHQ LVWGLHWLHIH9HUJDQJHQKHLWHEHQVR]XJlQJOLFKZLHGLHIHUQH=XNXQIWXQGEHLGHV NDQQJHlQGHUWZHUGHQ %DQVKHHURRP ² VLH HUVFKDXHUWH LPPHU QRFK EHLP 'HQNHQ GLHVHV 1DPHQV NDPHQ LPPHU PHKU =ZHLIHO DQ 6XSHUFRQWUROV 9ROONRPPHQKHLW 6R JUR GLH 0DFKW GLHVHU 6\QWKHWLVFKHQ ,QWHOOLJHQ] ZDU XQG %DQVKHHURRP KDWWH DOV *HIDQJHQH $PXQ6LWDLV GLH 0DFKW 6XSHUFRQWUROVPLWHPSIXQGHQ²VLHNRQQWH QLFKW XQEHJUHQ]W VHLQ $OOH =XNXQIW GLH REHUKDOE GHU 6HLQVHEHQH ODJ ZDU EHVWHQIDOOV HLQ LPPDWHULHOOHV *HPLVFK P|JOLFKHU (QWZLFNOXQJHQ ,KUH %HHLQIOXVVXQJPXWHMHQVHLWVGHU0DFKWPDWHULHOOHU([LVWHQ]OLHJHQ :DKUVFKHLQOLFKYHUPLVFKWHVLFKLQGHQ$XVVDJHQYRQ6XSHUFRQWURO:DKUKHLWPLW :XQVFKGHQNHQ'LH6\QWKRLQWHOOLJHQ]ZDUMDQLFKWHLQPDOIlKLJGHQ0LHUIROJ ]X HUNHQQHQ GHQ VLH PLW GHP 9HUVXFK HLQH 3VHXGR3HUV|QOLFKNHLW LQ $PXQ 6LWDLV.|USHU]XHWDEOLHUHQHUOLWWHQKDWWH6LHKDWWHQLFKWGLHJHULQJVWH$KQXQJ GDLQ$PXQ6LWDLV.|USHUGDV%HZXWVHLQYRQ%DQVKHHURRPZRKQWH 8QG GD %DQVKHHURRP VLFK QLHPDOV IU GLH ZDKQZLW]LJHQ 3OlQH 6XSHUFRQWUROV HLQVSDQQHQODVVHQZUGH 'DV 3UREOHP ZDU QXU ZLH VLH VLFK GHP :LOOHQ 6XSHUFRQWUROV ZLGHUVHW]HQ NRQQWH (LQH RIIHQH $XIOHKQXQJ NDP QLFKW LQ )UDJH GHQQ GDQQ KlWWH 6XSHUFRQWURO LKUH ([LVWHQ] DXVJHO|VFKW XQG QLFKWV ZlUH HUUHLFKW ZRUGHQ ,P *HJHQWHLO 'HU QlFKVWH $QZlUWHU DXI GDV $PW GHV =HLWNRRUGLQDWRUV ZlUH HLQ ZLOOIlKULJHV:HUN]HXJJHZHVHQZHLOHUPLWJU|WHU:DKUVFKHLQOLFKNHLWQXUHLQH HLQ]LJH3HUV|QOLFKNHLWEHVD %DQVKHHURRP HUUHLFKWH GLH )HQVWHUIURQW GHU .DWKHGUDOH XQG EOLHE VWHKHQ 'DV

JUHOOH/LFKW]ZDQJVLHGLH$XJHQ²$PXQ6LWDLV$XJHQ]XVFKOLHHQXQGHV HU]HXJWH6FKPHU]LQMHGHUHLQ]HOQHQ1HUYHQIDVHU ,P QlFKVWHQ 0RPHQW HUORVFK HV ² XQG %DQVKHHURRP JDE VLFK HUOHLFKWHUW GHU 'XQNHOKHLWKLQGLHEHUGLH.DWKHGUDOHKHUHLQJHEURFKHQZDU ³)UFKWH GLFK QLFKW $PXQ6LWDL VDJWH GLH 6WLPPH YRQ 6XSHUFRQWURO DXV GHU XQGXUFKGULQJOLFKHQ )LQVWHUQLV KHUDXV ³'X ZLUVW UXKHQ XQG WUlXPHQ XQG YLHO =HLWKDEHQGLH(LQKHLWYRQ.|USHUXQG*HLVW]XIHVWLJHQ,FKZHFNHGLFKZHQQ GLH=HLWJHNRPPHQLVW %DQVKHHURRP KDWWH GHQ (LQGUXFN VFKZHUH XQG N|USHUORV ]X ZHUGHQ XQG DOV UHLQHV %HZXWVHLQ GXUFK GLH OLFKWHUIOOWHQ +|KHQ XQG GXQNOHQ 7lOHU HLQHV 0HGLXPV]XVFKZHEHQGDVGLHGLPHQVLRQVIUHLHQ=RQHQ]ZLVFKHQGHQ.RQWLQXD GHV8QLYHUVXPVHUIOOWH 'HU=HURWUDXPNDPEHUJDQJVORV ,Q GHU HLQHQ 6HNXQGH KDWWH %DQVKHHURRP QRFK JHVFKODIHQ XQG VLFK LQ HLQHP JDQ]QRUPDOHQ7UDXPHQWVSDQQWXQGLQGHUQlFKVWHQ6HNXQGHYHUZDQGHOWHVLFK GLHVHU 7UDXP LQ HLQH LPPDWHULHOOH 6WUDH DXI GHU %DQVKHHURRP bRQHQ XQG 8QHQGOLFKNHLWHQEHUEUFNWHXQGGRUWODQGHWHZRDOOHVDQJHIDQJHQKDWWH 2GHUDOOHVHQGHQZUGH ,P=HURWUDXPZDQGHOWHVLHDPUXJHVFKZlU]WHQ6DXPHLQHV2]HDQVHQWODQJLQ GHP OlQJVW QLFKWV DQGHUHV PHKU ZRKQWH DOV GHU 7RG *HJHQEHU Z|OEWHQ VLFK VFKZDU]H 6FKODFNHQKJHO KLQ XQG ZLHGHU EL]DUUH IXUFKWHLQIO|HQGH )RUPHQ ELOGHQG(LQWUlJHU5HJHQYRQ$VFKHIORFNHQULHVHOWHDXIVLHXQGDXIGLHPRQRWRQ UDXVFKHQGH%UDQGXQJKHUDE:HLWKLQWHUGHQ+JHOQIODFNHUWHGHU:LGHUVFKHLQ YHU]HKUHQGHU)ODPPHQ %DQVKHHURRP IKOWH .lOWH XQG hEHONHLW DOV VLH LP 1RUGHQ GLH ZHLHQ 7UPH HUEOLFNWH GLH LQ JURHQ $EVWlQGHQ DXV GHU YHUZVWHWHQ 2EHUIOlFKH GHU :HOW UDJWHQ 6LHZXWH QRFKQLFKWZDVGLHVH7UPHEHGHXWHWHQDEHUVLHDKQWHGDVLHGDV *UDXHQHUZDUWHWHVROOWHVLHGLH6FKZHOOH]XU(UNHQQWQLVEHUVFKUHLWHQ 'LH)XUFKWGDYRUOLHVLH]XUFNVFKUHFNHQVFKOHXGHUWHVLHLP=HURWUDXP]XUFN EHU 8QHQGOLFKNHLWHQ XQG bRQHQ ]XUFN LQ GHQ .|USHU $PXQ6LWDLV XQG GRUW WLHIKLQHLQLQGHQTXDVLELRSKRULVFKHQ.RPSOH[GHUQRFKLPPHUIUDJPHQWDULVFKH 6FKOHLHUGHUXUVSUQJOLFKHQ3HUV|QOLFKNHLWGLHVHV:HVHQVEDUJ 8QG VLH EHJULII ]XP HUVWHQPDO ZDV $PXQ6LWDL ZLUNOLFK JHZHVHQ ZDU HLQH GXUFK0DWHULH6XJJHVWLRQNRSLHUWH,QNDUQDWLRQHLQHU.RVPRNUDWLQGLHZlKUHQG HLQHU KHLNOHQ 0LVVLRQ LQQHUKDOE GHU LP VRJHQDQQWHQ /LPEXV GHP LQWHUJDODNWLVFKHQ1LHPDQGVODQG]ZLVFKHQGHUHKHPDOLJHQ6XSHULQWHOOLJHQ]6HWK $SRSKLVXQGGHU6XSHULQWHOOLJHQ](6LKU/HEHQJHRSIHUWKDWWH :RUXP HV EHL GLHVHU 0LVVLRQ H[DNW JHJDQJHQ ZDU OLH VLFK DXV GHQ IUDJPHQWDULVFKHQ6FKOHLHUQGHUXUVSUQJOLFKHQ3HUV|QOLFKNHLW$PXQ6LWDLVQLFKW PHKUHUNHQQHQ ,PPHUKLQ DEHU UHLFKWHQ GLH hEHUUHVWH DXV XP %DQVKHHURRP LP =HURWUDXP QDFKHUOHEHQ ]X ODVVHQ ZLH HLQH *UXSSH YRQ +XPDQRLGHQ GLH VLFK .LWVDLPDQV (UEHQ QDQQWHQ GLH VWHUEOLFKHQ hEHUUHVWH $PXQ6LWDLV HLQVDPPHOWH XQG PLW

HLQHP 5DXPVFKLII LQ GHQ GLFKWHQ .XJHOVWHUQKDXIHQ 9DUORKU LQQHUKDOE GHU *DOD[LV7RUUDPlKQHEUDFKWH 'RUW VWHXHUWH GDV 6FKLII GLH EODXH 5LHVHQVRQQH ;HUDVFK DQ XQG ODQGHWH DXI GHVVHQQHXQWHP3ODQHWHQGHUGHQ1DPHQ'DUJKHWDWUXJ 'LHGRPLQLHUHQGHLQWHOOLJHQWH6SH]LHVYRQ'DUJKHWDGLH'DUJKHWHQKDWWHQGHQ (UEHQ .LWVDLPDQV DOV GLHVH YRU ODQJHU =HLW QDFK 7RUUDPlKQH YHUVFKODJHQ ZRUGHQZDUHQ([LOJHZlKUWXQGDUEHLWHWHQPLWLKQHQHEHQVRSRVLWLY]XVDPPHQ ZLH PLW DOOHQ DQGHUHQ ,QWHOOLJHQ]HQ LKUHU *DOD[LV PLW GHQHQ VLH LQ .RQWDNW VWDQGHQ $OVGLH.LWVDLPDQLV²EH]LHKXQJVZHLVH7LJHUNLGVZLHVLHVLFKDXFKRIWQDQQWHQ GHP5DWYRQ'DUJKHWDEHULFKWHWHQZHVVHQVWHUEOLFKHhEHUUHVWHVLHPLWJHEUDFKW KDWWHQXQGLQZHOFKHU0LVVLRQ$PXQ6LWDLXQWHUZHJVJHZHVHQZDUEHVFKORVVHQ GLH5DWVPLWJOLHGHUGLH,QNDUQDWLRQGHU.RVPRNUDWLQ]XUHJHQHULHUHQXQGVLHPLW GHQ 0LWWHOQ DXV]XVWDWWHQ GLH QRWZHQGLJ ZDUHQ GDPLW VLH LKUH 0LVVLRQ GRFK QRFKHUIOOHQNRQQWH 6R VHKU VLFK %DQVKHHURRP DEHU DXFK NRQ]HQWULHUWH VLH YHUPRFKWH QLFKW ]X HUNHQQHQZHOFKH$UWGLHVH0LVVLRQJHZHVHQZDU 'RFK VLH WUlXPWH LP =HURWUDXP ZLH GLH IlKLJVWHQ 0DWHULH6XJJHVWRUHQ XQWHU GHQ 'DUJKHWHQ ]XVDPPHQNDPHQ XP GHQ %HVFKOX GHV 5DWHV LQ GLH 7DW XP]XVHW]HQ 0DWHULH6XJJHVWRUHQ ZDUHQ 'DUJKHWHQ 0ROOXVNHQDEN|PPOLQJH GHUHQ SVLRQLVFKH*HKLUQVHNWLRQVRGLIIHUHQ]LHUWZDUGDVLHQLFKWQXU/HEHZHVHQDOV *DQ]HV VXJJHVWLY EHHLQIOXVVHQ NRQQWHQ ZLH DOOH 'DUJKHWHQ VRQGHUQ DXFK GLH VXEDWRPDUHQ %HVWDQGWHLOH DOOHU 0DWHULH ELV KLQXQWHU ]X LKUHQ 8UWHLOFKHQ GHQ 4XDUNV 6LH JLQJHQ GDEHL VR YRU GD VLH GDV 5HDNWLRQVYHUKDOWHQ YRQ 4XDUNV EH]LHKXQJVZHLVH $WRPHQ RGHU 0ROHNOHQ ]LHOJHULFKWHW YRUSODQHQG VR SURJUDPPLHUWHQGDDOV(UJHEQLVGDVJHZQVFKWH9HUKDOWHQKHUDXVNDP $XI GLHVH :HLVH YHUPRFKWHQ VLH XQWHU DQGHUHP GLH JHQHWLVFKHQ .RGHV YRQ ,QWHOOLJHQ]HQ 7LHUHQ 3IODQ]HQ %DNWHULHQ XQG 9LUHQ VXJJHVWLY VR QHX EH]LHKXQJVZHLVH XP]XJHVWDOWHQ GD EHLVSLHOVZHLVH Y|OOLJ QHXDUWLJH 6SH]LHV HQWVWDQGHQGDHKHPDOVOHEHQVJHIlKUOLFKH%DNWHULHQXQG9LUHQKDUPORVZXUGHQ RGHU IU JURWHFKQLVFKH 3UR]HVVH JDQ]HU =LYLOLVDWLRQHQ HLQJHVHW]W ZHUGHQ NRQQWHQ 6LHVHW]WHQLKUH)lKLJNHLWMHGRFKQLHPDOV]XP6FKDGHQYRQgNRV\VWHPHQRGHU /HEHZHVHQHLQGHQQVLHEHVDHQHLQHVHKUKRFKVWHKHQGH(WKLN'HVKDOEZXUGHQ VLH YRQ DOOHQ DQGHUHQ ,QWHOOLJHQ]HQ GLH VLH NHQQHQOHUQWHQ PLW $FKWXQJ XQG 5HVSHNWDQJHVHKHQDEHUQLHPDOVJHIUFKWHWRGHUDQJHIHLQGHW $OOHUGLQJVZDUQXUMHGHUWDXVHQGVWH'DUJKHWHDXFKHLQ0DWHULH6XJJHVWRUXQG YRQGHQHQHUUHLFKWHQZLHGHUXPQXUVHKUZHQLJHHLQH9ROONRPPHQKHLWGLHDXI GHQHUVWHQ%OLFNDQ=DXEHUHLKHUDQUHLFKWH :DV IDVW DOOHQ ,QWHOOLJHQ]HQ GHV 8QLYHUVXPV DOV DEVROXW XQP|JOLFK HUVFKLHQHQ ZlUHJHODQJGHU(OLWHGHUGDUJKHWLVFKHQ0DWHULH6XJJHVWRUHQ6LHUHJHQHULHUWHQ $PXQ6LWDLVHKUVRUJIlOWLJXQGVRSHUIHNWGDVLHTXDOLWDWLYVRJDUEHVVHUZDUDOV GLHXUVSUQJOLFKH,QNDUQDWLRQ'DVODJGDUDQGDGLH0DWHULH6XJJHVWRUHQVLFK

HLQHV HUVW NU]OLFK HQWGHFNWHQ 9HUIDKUHQV EHGLHQWHQ PLW GHP VLFK TXDVLELRSKRULVFKH 0DWHULH HU]HXJHQ OLH DOVR 0DWHULH GLH LQ 6WUXNWXU XQG 9HUKDOWHQ HQJ PLW 2Q XQG 1RRQ4XDQWHQ YHUZDQGW ZDU MHQHQ ELRSKRULVFKHQ K\SHUHQHUJHWLVFKHQ³/HEHQVWUlJHUQGLHLQJUDXHU9RU]HLWYRQGHQVRJHQDQQWHQ 0lFKWLJHQ LP $XIWUDJ GHU .RVPRNUDWHQ PLW +LOIH GHU 6SRUHQVFKLIIH LP 8QLYHUVXP³DXVJHVlWZRUGHQZDUHQ %HL $PXQ6LWDL ZXUGH GHU TXDVLELRSKRULVFKH ,QWHUQ.RPSOH[ GHU XQWHU GHU *URKLUQULQGH JHZDFKVHQ XQG DXVJHUHLIW ZDU XQG GHU DXV KRFKYHUGLFKWHWHU VHFKVGLPHQVLRQDO VFKZLQJHQGHU =HOOVXEVWDQ] PLW K\SHUVFKZHUHQ $WRPNHUQHQ EHVWDQG]XUHLJHQWOLFKHQ5HLQNDUQDWLRQGHU.RVPRNUDWLRQGLHVLFKHLQVWLQGHU IUKHUHQ$PXQ6LWDLPDQLIHVWLHUWKDWWH 'HQQRFKHLQHHFKWH,QNDUQDWLRQHLQHU.RVPRNUDWLQZDUDXFKGDVQLFKWGHQQGLH KlWWH DXVVFKOLHOLFK YRQ GHU EHWUHIIHQGHQ .RVPRNUDWLQ VHOEVW HU]HXJW ZHUGHQ N|QQHQ 'RFKHVZDUHLQIDVWYROOZHUWLJHU(UVDW] 8QG DOV GHU TXDVLELRSKRULVFKH .RPSOH[ DXVJHUHLIW ZDU EHUPLWWHOWH HU GHQ 'DUJKHWHQ HLQHQ 7HLO MHQHU ,QIRUPDWLRQHQ EHU GLH GDV 2ULJLQDO YHUIJW KDWWH 1DFKLKQHQZXUGHYRQGHQ0DWHULH6XJJHVWRUHQDXVQHXWUDOHU=HOOVXEVWDQ]GLH 0RUXVSKlUHQDPHQV3$51$;(UHNRQVWUXLHUWPLWGHUGLHRULJLQDOH$PXQ6LWDL GDV8QLYHUVXPGXUFKVWUHLIWKDWWHXP$VVXU+DWRQGHQ.ULHJHUYRQ+RUWDFK]X VXFKHQ 8QGDOVGLH3$51$;(IHUWLJJHVWHOOWZDUYHUOLH$PXQ6LWDLLQLKUHPOHEHQGHQ 5DXPVFKLII GHQ 3ODQHWHQ 'DUJKHWD GHQ .XJHOVWHUQKDXIHQ 9DUORKU XQG GLH *DOD[LV7RUUDPlKQH $OOHUGLQJVRKQH]XZLVVHQZDVLKU2ULJLQDOYRQ$VVXU+DWRQJHZROOWKDWWHZHU GHU .ULHJHU YRQ +RUWDFK ZDU XQG ZR VLH VHLQH 6SXU LP ZHLWHQ 8QLYHUVXP DXIQHKPHQNRQQWH 'DVPRFKWHGLH8UVDFKHGDIUJHZHVHQVHLQGDVLHQDFKODQJHU,UUIDKUWLQGLH *HZDOWGHU'URLGHQJHUDWHQZDUGLHLUJHQGHWZDVPLWVRJHQDQQWHQ&DQWDUR]X WXQ KDWWHQ ² RKQH GD $PXQ6LWDL KHUDXVEHNDP RE VLH QXQ VHOEVW &DQDWDUR ZDUHQRGHUQXU'URLGHQGLHGHQHFKWHQ&DQWDURQDFKHLIHUWHQ %HLGLHVHQ'URLGHQHUIXKU$PXQ6LWDLDXFKHUVWPDOVHWZDVEHUGLH6FKZDU]HQ 6WHUQHQVWUDHQ EH]LHKXQJVZHLVH GDV 6FKZDU]H/RFK7UDQVLW6\VWHP GDV PDQFKPDODXFK67$5*$7(JHQDQQWZXUGH(VVROOWHVLFKGDEHLXPHLQ5HOLNW GHV (UEHV GHV $OWHQ 9RONHV KDQGHOQ GDV YRU bRQHQ HQWVWDQGHQ XQG VSlWHU VXFKHQGYRQ*DOD[LV]X*DOD[LVJH]RJHQZDUXQGGDVDOVHUVWHVGDV/LFKWGHU (UNHQQWQLVLQGHU)LQVWHUQLVGHU8QZLVVHQKHLWDQJH]QGHWKDWWH 'LHVHVXQLYHUVHOOH7UDQVLW6\VWHPH[LVWLHUWHOlQJVWQLFKWPHKU(VZDU]HUIDOOHQ GXUFK QDWUOLFKH 9HUlQGHUXQJHQ XQEUDXFKEDU JHZRUGHQ RGHU LP 9HUODXI GHU (YROXWLRQGHU0DWHULHDXIK|KHUH'DVHLQVHEHQHQ³JHVSUXQJHQDXIGHQHQHVIU QRUPDOH,QWHOOLJHQ]HQIDNWLVFKQLFKWPHKUH[LVWLHUWH 1DFKIROJH=LYLOLVDWLRQHQGHV$OWHQ9RONHVKDWWHQKLQXQGZLHGHUhEHUUHVWHYRQ 67$5*$7(HQWGHFNWXQGPDQFKPDOHWZDVPLWLKQHQDQ]XIDQJHQJHZXW'DV ZDU DXI XQWHUVFKLHGOLFKH $UW XQG :HLVH JHVFKHKHQ XQG HV PRFKWH LQQHUKDOE

GHV *HVDPW8QLYHUVXPV XQ]lKOLJH YRQHLQDQGHU YHUVFKLHGHQH 6SLHODUWHQ GLHVHV 6\VWHPVJHEHQ 'LH 'URLGHQ GLH $PXQ6LWDL JHIDQJHQQDKPHQ KDWWHQ HLQH GLHVHU 6SLHODUWHQ UHFKW XQG VFKOHFKW EHKHUUVFKW ² XQG YLHOOHLFKW KDWWHQ VLH GLH JHIDQJHQH 5HLQNDUQDWLRQ HLQHU .RVPRNUDWLQ GD]X EHQXW]HQ ZROOHQ XP GLH LKQHQ ]XJlQJOLFKHQ5HOLNWHYRQ67$5*$7(HIIHNWLYHU]XQXW]HQ 6LH KDWWHQ $PXQ6LWDL ]X HLQHP KDOE N\EHUQHWLVFKHQ KDOE RUJDQLVFKHQ :HVHQ PDFKHQ ZROOHQ ZLH VLH DQVFKHLQHQG VHOEVW HV ZDUHQ 'XUFK GHQ $XVWDXVFK HLQLJHU LKUHU ELRORJLVFK JHZDFKVHQHQ 2UJDQH JHJHQ VHPLN\EHUQHWLVFKH .RPSOH[HZDU$PXQ6LWDLV/HLVWXQJVIlKLJNHLWWDWVlFKOLFKRSWLPLHUWZRUGHQ 'HQ 'URLGHQ ZDU DOOHUGLQJV HQWJDQJHQ GD GHU ,QWHUQ.RPSOH[ PLWWHQ LQ $PXQ6LWDLV *URKLUQ HLQ TXDVLELRSKRULVFKHU .RPSOH[ ZDU GHU VLFK LPPHU ZLHGHU ]XU DOWHQ 6WUXNWXU XQG IU GLH DOWHQ )XQNWLRQHQ UHRUJDQLVLHUWH ZHQQ HU YHUlQGHUW ZXUGH ² XQG ZHQQ QXU HLQ PLNURVNRSLVFK ZLQ]LJHV 7HLO YRQ LKP GDEHLLPDOWHQ=XVWDQGEOLHE $XVGLHVHP*UXQGZDU$PXQ6LWDLQXUYRUEHUJHKHQG]XHLQHP:HUN]HXJGHU 'URLGHQ JHZRUGHQ XQG QDFK GHU %HIUHLXQJ GXUFK GLH ,3&%HDXIWUDJWHQ VFKRQ EDOGZLHGHUGDVJHZHVHQDOVZDVHVYRQ'DUJKHWDDXIJHEURFKHQZDU 6RZHLW PLW LKUHP =HURWUDXP JHNRPPHQ HUNDQQWH %DQVKHHURRP LQ ORJLVFKHU .RQVHTXHQ]ZDVGDVIUVLHXQGLKUH%H]LHKXQJ]X$PXQ6LWDLEHGHXWHWH )UKHU RGHU VSlWHU ZUGH GLH 3HUV|QOLFKNHLW $PXQ6LWDLV VLFK WURW] LKUHU /|VFKXQJ GXUFK 6XSHUFRQWURO UHRUJDQLVLHUHQ XQG LKUH HLJHQH 3HUV|QOLFKNHLW YHUGUlQJHQRGHU]HUVW|UHQ 'DEHLKDWWHVLHLKUHHLJHQH3HUV|QOLFKNHLWELVKHUQLFKWHLQPDOULFKWLJHUNDQQW (VZXUGHK|FKVWH=HLWGDVLHGLHVHV=LHOHUUHLFKWH $OOHUGLQJVDKQWHVLHGDVLHGHQ(UIROJQLFKWJHVFKHQNWEHNRPPHQZUGH 6LHZUGHHWZDVGDIUWXQPVVHQ 6LHZUGHGDVWXQPVVHQZRIUGLHRULJLQDOH$PXQ6LWDLNRQGLWLRQLHUWZRUGHQ ZDU $VVXU+DWRQGHQ.ULHJHUYRQ+RUWDFKVXFKHQXQGGDUDXI]XKRIIHQGDHULKU VDJHQNRQQWHZDVLKUHZDKUH%HVWLPPXQJZDU 6FKODJDUWLJHQGHWHGHU=HURWUDXP %DQVKHHURRPIKOWHZLHVLHYRQHLQHPLPDJLQlUHQ6RJHUJULIIHQXQGDQLKUHQ $XVJDQJVSXQNW]XUFNJH]RJHQZXUGH 'DV ,QQHUH HLQHU $UW .DWKHGUDOH PLW JROGHQHQ 6lXOHQ ]ZHLXQG]ZDQ]LJ JROGHQHQ 6DUNRSKDJHQ XQG IQI KRKHQ VFKPDOHQ )HQVWHUQ GXUFK GLH JUHOOHV EOHQGHQGHV/LFKWILHO 'DV/LFKWIODFNHUWHGDQQVDJWHGLH6WLPPHYRQ6XSHUFRQWURO ³,FK KDEH GLFK QLFKW JHZHFNW $PXQ6LWDL GHQQ GLH =HLW LVW QRFK QLFKW JHNRPPHQ ³$EHULFKELQZDFKHUZLGHUWH%DQVKHHURRP³0XLFKGHQQZLHGHUVFKODIHQ" .DQQLFKQLFKWVWXQXPPLFKDXIPHLQHNQIWLJH$XIJDEHYRU]XEHUHLWHQ" ³'DVLVWDQVLFKXQQ|WLJHUNOlUWH6XSHUFRQWURO³'XZLUVWDOOHVZLVVHQZHQQGX HV EUDXFKVW 'RFK VSULFKW QLFKWV GDJHJHQ GD GX GLFK DXI GHU +DXSW]HLWZHOW

XPVLHKVW,FKJHEHGLUHLQHQ)KUHUPLWGDPLWGXGLFKQLFKWYHULUUVW %DQVKHHURRPHUZLGHUWHQLFKWVGDUDXI6LHEUDXFKWHLKUHJDQ]H(QHUJLHXPVLFK LKUH(UUHJXQJXQGLKUH)XUFKWYRU(QWODUYXQJQLFKWDQPHUNHQ]XODVVHQ 6HNXQGHQVSlWHUYHUQDKPVLHHLQ*HUlXVFKKLQWHUVLFK $OVVLHVLFKXPGUHKWHVDKVLHHLQHWZDPHWHUKRKHV]ZHLEHLQLJHV/HEHZHVHQGDV LQ HLQHQ XP VHLQHQ .|USHU VFKORWWHUQGHQ JUDXJUQHQ 6FKXW]DQ]XJ JHKOOW ZDU HLQHQ EUHLWHQ VFKZDU]HQ *UWHO VFKZDU]H 6WLHIHO XQG VFKZDU]H VHFKVILQJULJH +DQGVFKXKH WUXJ 'DV *HVLFKW ZDU RYDO EHVD ZHGHU VLFKWEDUH $XJHQ QRFK HLQHQ VLFKWEDUHQ 0XQG XQG VDK DXV ZLH HLQ )OHFNHQWHSSLFK DXV ZDKOORV ]XVDPPHQJHVHW]WHQ 6WRIIHW]HQ 6FKlGHOGHFNH XQG +LQWHUNRSI ZDUHQ LQ HLQHP HQJDQOLHJHQGHQ+HOPYHUERUJHQGHUDXVHOIHQEHLQIDUEHQHP3ODVWLNJHJRVVHQ]X VHLQVFKLHQ ³,FK ELQ %RQJDORU VDJWH GDV :HVHQ PLW UDXKHU 5DVSHOVWLPPH ³6XSHUFRQWURO KDWPLFKGLUDOV)KUHUEHLJHJHEHQ$PXQ6LWDL ³,FK IUHXH PLFK GHLQH %HNDQQWVFKDIW ]X PDFKHQ %RQJDORU HUZLGHUWH %DQVKHHURRP ³'XP|FKWHVWGLFKDXIGHU+DXSW]HLWZHOWXPVHKHQVDJWH%RQJDORU³:DVGDUI LFKGLU]HLJHQ" ³$OOHV ZDV IU HLQHQ ]XNQIWLJHQ =HLWNRRUGLQDWRU ZLFKWLJ VHLQ N|QQWH DQWZRUWHWH%DQVKHHURRP³'LH$XVZDKOPXLFKGLUEHUODVVHQ,FKZHLQLFKWV EHUGLH+DXSW]HLWZHOW ³'DQQ LVW HV ZDKUVFKHLQOLFK DP ]ZHFNPlLJVWHQ ZHQQ LFK GLU GHQ =HLWSKDVHQNRQWUROOHU]HLJHHUNOlUWH%RQJDORU³%LWWHIROJHPLU 'DVNOHLQH:HVHQJLQJGLUHNWDXIGDVPLWWOHUHGHUIQIKRKHQVFKPDOHQ)HQVWHU DP DQGHUHQ (QGH GHU ³.DWKHGUDOH ]X %DQVKHHURRP IROJWH LKP REZRKO GDV /LFKWLPPHUXQHUWUlJOLFKHUZXUGHMHZHLWHUVLHVLFKGHQ)HQVWHUQQlKHUWH-HGH HLQ]HOQHLKUHU1HUYHQIDVHUQVFKLHQLQ)ODPPHQ]XVWHKHQ $OV VLH JODXEWH YHUEUHQQHQ ]X PVVHQ ]XPDO LKUH ;HQR.RPELQDWLRQ LKUH 6FKXW]ZLUNXQJHLQJHEW]XKDEHQVFKLHQYHUVFKZDQG%RQJDORUYRULKU 'RUW ZR HU HEHQ QRFK JHJDQJHQ ZDU JODXEWH %DQVKHHURRP HLQHQ ZDEHUQGHQ )OHFNDXV'XQNHOKHLW]XVHKHQ ,KUHQ6FKPHU]XQGLKUH7RGHVIXUFKWEHUZLQGHQGWDWVLHHLQHQZHLWHUHQ6FKULWW LQGHQGXQNOHQ)OHFNKLQHLQ 8QGVWDQGLPQlFKVWHQ0RPHQWQHEHQ%RQJDORUDXIHLQHUNOHLQHQWUDQVSDUHQWHQ 3ODWWIRUP GLH LP H[DNWHQ 0LWWHOSXQNW HLQHU +RKONXJHO VFKZHEWH GHUHQ :DQGXQJDQGDV+RORIHOGHLQHV3URMHNWLRQVSODQHWDULXPVHULQQHUWH 0LW GHP 8QWHUVFKLHG GD LQ GLHVHP )HOG NHLQH 6WHUQH XQG NRVPLVFKH 6WDXEZRONHQ ]X VHKHQ ZDUHQ VRQGHUQ NUHLVUXQGH $XVVFKQLWWH DXV ]LUND KXQGHUWWDXVHQGYHUVFKLHGHQHQ3ODQHWHQREHUIOlFKHQ %DQVKHHURRPZDUEHUZlOWLJWYRQGHU)OOHGHU%LOGHUXQGQRFKVWlUNHUYRQGHU HQRUPHQ %DQGEUHLWH XQWHUVFKLHGOLFKVWHU 8PZHOWEHGLQJXQJHQ XQG /HEHQVIRUPHQGLHVLHLQGHQ$XVVFKQLWWHQVDK,KUHU|IIQHWHVLFKGHU%OLFNDXI (LVSODQHWHQ 9XONDQK|OOHQ GDPSIHQGH 'VFKXQJHOZHOWHQ VWXUPGXUFKWRVWH :VWHQXQGYRU/HEHQZLPPHOQGH0HHUH

+LHUXQGGDHQWGHFNWHVLHDXFK$Q]HLFKHQIUGLH([LVWHQ]LQWHOOLJHQWHU:HVHQ UDXFKHQGH )HXHU YRU +|KOHQHLQJlQJHQ PDXHUXPJUHQ]WH NOHLQH 6WlGWH PLW HQJHQ ZLQNOLJHQ *DVVHQ ILQVWHUH %XUJHQ DXI NDKOHQ %HUJHQ VRZLH NXQVWYROO NRQVWUXLHUWH(LVVHJOHUYROOHUYHUPXPPWHU*HVWDOWHQ 1XUGDVZDVVLHHUZDUWHWKDWWHVDKVLHQLFKWQlPOLFKPRGHUQH%HUJZHUNHPLW GHQHQ GLH %HZRKQHU GHU +DXSW]HLWHEHQH 5RKVWRIIH JHZDQQHQ XQG 8PVFKODJSOlW]H PLW GHQHQ GLHVH 5RKVWRIIH DXI GLH +DXSW]HLWHEHQH JHEUDFKW ZXUGHQ $OVVLHHLQHHQWVSUHFKHQGH)UDJHVWHOOWHHUNOlUWHLKU)KUHU ³6HLW GHU +HUUVFKDIW YRQ 6XSHUFRQWURO ZLUG VWUHQJ GDUDXI JHDFKWHW GD GLH :HOWHQDQGHUHU=HLWSKDVHQGLHZLU]XU5RKVWRIIYHUVRUJXQJKHUDQ]LHKHQY|OOLJ XQEHUKUW GXUFK IUHPGH ,QWHOOLJHQ]HQ HUVFKHLQHQ :LU ZLFNHOQ XQVHUH $NWLYLWlWHQHQWZHGHULP*HKHLPHQDELQGHPXQVHUH/HXWHXQG0DVFKLQHQXQWHU GHQ 3ODQHWHQREHUIOlFKHQ EOHLEHQ RGHU ZLU IRUFLHUHQ DXI VXEWLOH :HLVH GLH 5RKVWRIIJHZLQQXQJ GXUFK (LQJHERUHQH GLH DOOHUGLQJV SV\FKLVFK VR NRQGLWLRQLHUW VLQG GD VLH IU GLH :HLWHUOHLWXQJ GHU PHLVWHQ 5RKVWRIIH LQ GLH VXESODQHWDULVFKHQ6DPPOHUVRUJHQRKQHVLFKGDQDFKGDUDQ]XHULQQHUQ ³,QWHOOLJHQWH 3DUDVLWHQ ODVVHQ LKUH :LUWH QLFKWV YRQ LKUHU ([LVWHQ] PHUNHQ NRQVWDWLHUWH%DQVKHHURRP ³8QGVLHVFKlGLJHQLKUH:LUWHQLHPDOVHUJlQ]WH%RQJDORU 'HQQRFKZHUGHQDOOHGLHVH=HLWNRORQLHQWLHIJUHLIHQGEHHLQIOXWDXFKZHQQVLFK GLH 5HVXOWDWH HUVW LQ 7DXVHQGHQ YRQ -DKUHQ ]HLJHQ P|JHQ EHUOHJWH %DQVKHHURRP 6LH IXKU KHUXP DOV VLH LQPLWWHQ HLQHV NUHLVUXQGHQ +RORIHOGV GDV ELVKHU QLFKWV DOV6FKZlU]HJH]HLJWKDWWHHLQJUHOOHV)ODFNHUQEHPHUNWH(VOLHQDFKZlKUHQG VLHLKUHJDQ]H$XIPHUNVDPNHLWGDUDXIULFKWHWH 6HNXQGHQVSlWHUZDUHQLQGHP+RORIHOG]DKOUHLFKHVFKDUIXPJUHQ]WH/LFKWIOHFNH ]X VHKHQ GLH DQVFKHLQHQG YRQ GHQ 5lQGHUQ GHV NUHLVI|UPLJHQ %LOGDXVVFKQLWWV ]XP=HQWUXPVWU]WHQ %DQVKHHURRPHUZDUWHWHGDHVHLQHVWDUNH/LFKWH[SORVLRQJHEHQZUGHVREDOG GLH KHOOHQ )OHFNHQ ]XVDPPHQSUDOOWHQ XQG HYHQWXHOO PLWHLQDQGHU YHUVFKPRO]HQ 6LH ZDU YHUEOIIW DOV VLH VWDWW GHVVHQ QDFK NXU]HP $XIOHXFKWHQ YRQ HLQHP 0RPHQW]XPDQGHUHQVSXUORVYHUVFKZDQGHQ 'LHVPDOZXUGHHVMHGRFKQLFKWZLHGHUVRGXQNHOZLHDQIDQJVLQGHP+RORIHOG *DQ] QDKH DP 5DQG JDE HV HLQLJH ZLQ]LJH /LFKWSXQNWH GHUHQ /HXFKWHQ DOOHUGLQJV GLH NUHLVUXQGH )LQVWHUQLV GLH GHQ JU|WHQ 7HLO GHV )HOGHV DXVIOOWH XPNHLQELFKHQHUKHOOWH(VZDUHKHUVRDOVYHUVFKZlQGHLKU/LFKWVREDOGHVLQ GLH'XQNHOKHLWHLQGULQJHQZROOWH ³:DV LVW GDV" IUDJWH VLH XQG GHXWHWH PLW DXVJHVWUHFNWHP $UP DXI GDV LKU XQJHZRKQWH3KlQRPHQ ³(VLVW+RUWDFKNXU]QDFKLKUHU(QWVWHKXQJDQWZRUWHWH%RQJDORU +RUWDFK" ZLHGHUKROWH %DQVKHHURRP LQ *HGDQNHQ ,VW $VVXU+DWRQ GHQ GLH RULJLQDOH$PXQ6LWDLVXFKHQVROOWHXQGGHQLFKDQLKUHU6WDWWVXFKHQZLOOQLFKW GHU .ULHJHU YRQ +RUWDFK" :DV EHL DOOHQ 8QLYHUVHQ LVW GDQQ GDV IU HLQ

XQKHLPOLFKHU2UWYRQGHP$VVXU+DWRQVWDPPW" ³:DV LVW +RUWDFK" IUDJWH VLH ODXW EHPKW VLFK LKUH VWDUNH (UUHJXQJ QLFKW DQPHUNHQ]XODVVHQ ³$XIGHU2EHUHQ=HLWOLQLHGLHLGHQWLVFKPLWGHU5HDO]HLWGHU+DXSW]HLWLQVHOLVW LVW+RUWDFKHLQ.RVPRNUDWDQWZRUWHWH%RQJDORU³:DVGDV+RORIHOG]HLJWOLHJW DXIGHUXQWHUVWHQYRQ6XSHUFRQWUROHUIDWHQ=HLWOLQLHXQGLVWHLQH0DWHULHTXHOOH XQPLWWHOEDU QDFK LKUHU (QWVWHKXQJ 0DWHULHTXHOOHQ VLQG :HLWHUHQWZLFNOXQJHQ YRQ 6XSHULQWHOOLJHQ]HQ $XI GHP +|KHSXQNW LKUHU LQ XQVHUHP .RQWLQXXP P|JOLFKHQ (YROXWLRQ ]LHKHQ VLH GLH *DOD[LHQ LKUHU 0lFKWLJNHLWVEDOOXQJ ]XVDPPHQXQGYHUGLFKWHQVLH ³'DEHLPWHMDHLQULHVLJHV%ODFN+ROHHQWVWHKHQULHI%DQVKHHURRP ³'HU 9RUJDQJ LVW QLFKW LGHQWLVFK PLW GHU (QWVWHKXQJ HLQHV %ODFN +ROHV NRUULJLHUWH %RQJDORU ³(U lKQHOW LKP QXU ,P ,QQHUQ GHU 0DWHULHTXHOOH YHUVFKPHO]HQ ]DKOUHLFKH QRUPDOH %ODFN +ROHV PLWHLQDQGHU 'DGXUFK ZHUGHQ XQYRUVWHOOEDUH (QHUJLHQ IUHLJHVHW]W GLH VLFK VWDXHQ XQG VSlWHU ZHQQ GHU 6WDXGUXFN JUR JHQXJ LVW GXUFK QHXHQWVWHKHQGH :KLWH +ROHV LQV QRUPDOH 8QLYHUVXPDEJHEODVHQZHUGHQZRVLH]X0DVVHNRQGHQVLHUHQ %DQVKHHURRP KDWWH VHKU DXIPHUNVDP ]XJHK|UW XQG ZDU GDEHL LPPHU HUUHJWHU JHZRUGHQ GHQQ QDFK XQG QDFK KDWWH VLH JHPHUNW GD GDV ZDV %RQJDORU LKU HUNOlUWH VFKRQ HLQPDO ]X LKUHP :LVVHQ JHK|UW KDWWH ² XQG ]ZDU XQDEKlQJLJ YRP ,QWHUQ.RPSOH[ LQ GHP GDV JOHLFKH :LVVHQ HEHQIDOOV YHUERUJHQ ZDU $OOHUGLQJV ZDUHQ VLH XQG GHU ,QWHUQ.RPSOH[ QXU DOOJHPHLQ EHU 6XSHULQWHOOLJHQ]HQ0DWHULHTXHOOHQXQG.RVPRNUDWHQLQIRUPLHUWJHZHVHQQLFKW VSH]LHOO EHU GHQ .RVPRNUDWHQ +RUWDFK GHU DXV GHU 0DWHULHTXHOOH GHU 6XSHULQWHOOLJHQ]JOHLFKHQ1DPHQVKHUYRUJHJDQJHQVHLQVROOWH 6LHIUDJWHVLFKZHQQ+RUWDFKGHU1DPHHLQHV.RVPRNUDWHQZDUZHUGDQQGHU .ULHJHUYRQ+RUWDFKVHLQN|QQWH$VVXU+DUWRQ" 8QGSO|W]OLFKKDWWHVLHHLQH,GHH ,P HUVWHQ 0RPHQW ZXUGH LKU VFKZDU] YRU $XJHQ GHQQ LKUH ,GHH ZDU WROONKQ XQGEDUJXQJHDKQWH5LVLNHQLQVLFK'RFKZlKUHQGVLHQXUQRFKPLWKDOEHP2KU ]XK|UWHZLHLKU)KUHU1HEHQVlFKOLFKNHLWHQHUNOlUWHZXUGHLKUDOOPlKOLFKNODU GD GLH 'XUFKIKUXQJ GLHVHU ,GHH PLW VHKU JURHU :DKUVFKHLQOLFKNHLW GLH HLQ]LJH0|JOLFNHLWZDU.RQWDNWPLW$VVXU+DWRQDXI]XQHKPHQ 9RUDXVJHVHW]W 6XSHUFRQWURO VFK|SIWH NHLQHQ 9HUGDFKW ZHQQ VLH VLFK GXUFK %RQJDORUEHLLKUHUNXQGLJWHREHVHLQH0|JOLFKNHLWIUVLHJDEVLFKLQGLH1lKH GHU0DWHULHTXHOOH+RUWDFKYHUVHW]HQ]XODVVHQ (LQH6WXQGHVSlWHUODJVLHLQGHP6LFKHUKHLWVWDQNHLQHVVRJHQDQQWHQ2SHUDWRUV HLQHU$UW5DXP=HLW.UHX]HU²XQGUDVWHEOLQGXQGWDXEGXUFKXQEHNDQQWHXQG XQEHJUHLIOLFKH'LPHQVLRQHQ %DQVKHHURRP ZXWH QRFK LPPHU QLFKW RE LKU $QVLQQHQ 6XSHUFRQWURO LQ LUJHQGHLQHU :HLVH YHUGlFKWLJ YRUJHNRPPHQ ZDU XQG RE VLH YLHOOHLFKW LQ LKU 9HUGHUEHQ JHVFKLFNW ZXUGH DQVWDWW LQ GLH 1lKH GHU 0DWHULHTXHOOH +RUWDFK 'LHVH 8QJHZLKHLW TXlOWH VLH DQIDQJV VHKU DEHU QDFK XQG QDFK OHUQWH VLH LKU 6FKLFNVDODOVHWZDV9RUKHUEHVWLPPWHVKLQ]XQHKPHQ

%DQVKHHURRPJDEVLFKJDQ]GHU,OOXVLRQKLQKRFKEHUGHQ'LQJHQ]XVFKZHEHQ ELV HLQ KDUWHU 5XFN GXUFK GHQ 2SHUDWRU JLQJ XQG JOHLFK GDUDXI ]ZHL KDOENXJHOI|UPLJH 6FKDOHQ DXV +RORSURMHNWLRQHQ EHU XQG XQWHU GHP 6LFKHUKHLWVWDQNKHOOZXUGHQ $OOH+RORSURMHNWLRQHQ]XVDPPHQERWHQHLQHQ$QEOLFNGHUOlKPHQGHV(QWVHW]HQ LQ%DQVKHHURRPHU]HXJWH 'LH REHUH +DOENXJHOVFKDOH ZDU HUIOOW YRQ HLQHP YLROHWWHQ /HXFKWHQ ZLH %DQVKHHURRPHVQRFKQLHJHVHKHQKDWWH(VUKUWHYRQXQ]lKOLJHQ6WHUQHQXQG IHUQHQ6WHUQHQLQVHOQKHUGLHVLFK³EHUGHP2SHUDWRUEHIDQGHQ 'LH XQWHUH +DOENXJHOVFKDOH GDJHJHQ ZDU QDFKWVFKZDU] XQG HU]HXJWH GHQ (LQGUXFNHLQHVXQHQGOLFKWLHIHQ$EJUXQGVGHVVHQ5lQGHUQLFKW]XVHKHQZDUHQ ZHLOVLHVLFKKRUL]RQWDOQDFKDOOHQ5LFKWXQJHQELVDQV(QGHGHV8QLYHUVXPVXQG DQV(QGHDOOHU=HLWHQHUVWUHFNWHQ 'HU$QEOLFN³XQWHU%DQVKHHURRPHULQQHUWHVLHDQGDV*LJDQW%ODFN+ROHGDV YRQGHQ6RQQHQXQG3ODQHWHQGHU6WHUQHQVWDGW0RQGRIDQDJKJHVlXPWZXUGH 1XUZDUGDV%ODFN+ROHGHU6WHUQHQVWDGWWURW]VHLQHUJLJDQWLVFKHQ$XVGHKQXQJ HLQ UlXPOLFK EHJUHQ]WHV 2EMHNW GHVVHQ *UHQ]HQ YRQ GHU 2UWXQJ HUIDW XQG VLFKWEDUJHPDFKWZHUGHQNRQQWHQ 'D]X ZDU GLH 2UWXQJ EHL GHP YRQ GHU XQWHUHQ +DOENXJHOVFKDOH DEJHELOGHWHQ $EJUXQGRIIHQNXQGLJQLFKWLQGHU/DJH'HPQDFKKDQGHOWHHVVLFKQLFKWXPHLQ DXVHLQHU²XQGZHQQQRFKVRJURHQ²6RQQHHQWVWDQGHQGHQ%ODFN+ROH 1HLQGLHVHV*HELOGHZDUHWZDVJlQ]OLFKDQGHUHVHLQH0DWHULHTXHOOH 'DVOlKPHQGH(QWVHW]HQILHOYRQ%DQVKHHURRPDEDOVVLHGDVEHJULII$XFKGHU )DWDOLVPXVEU|FNHOWHQDFKXQGQDFKDEGHQQVLHZXWHSO|W]OLFKZLHGHUGDVLH QLFKWPHKUQXUHLQ6FKLFNVDOHUOHLGHQPXWHVRQGHUQHWZDVWXQNRQQWHXPLKU 6FKLFNVDO]XEHHLQIOXVVHQ 8QGYLHOOHLFKWDXFKGDV6FKLFNVDO]DKOORVHU=LYLOLVDWLRQHQ 6LHWUDWPLWLKUHU;HQR.RPELQDWLRQLQJHLVWLJH9HUELQGXQJXQGGHU6\PELRQW DNWLYLHUWHDOOHVHLQH5HVHUYH(QHUJLHQXQGNRQ]HQWULHUWHVLHDXIGLH$EVWUDKOXQJ HLQHV1RWUXIVDXI'DNNDUGLP%DVLV (LQHV1RWUXIVGHUDQ$VVXU+DWRQJHULFKWHWZDU 6LH ZDU VLFK GHV 5LVLNRV GDV VLH GDPLW HLQJLQJ GXUFKDXV EHZXW GHQQ VLH NRQQWHVLFKGHQNHQGDGHU2SHUDWRULQVWlQGLJHU9HUELQGXQJPLW6XSHUFRQWURO VWDQGXQG6XSHUFRQWUROGXUFKLKQGLH0|JOLFKNHLWKDWWH(LJHQPlFKWLJNHLWHQYRQ ³$PXQ6LWDLDE]XEORFNHQ $OOHUGLQJV KDWWH VLH QLFKW GDPLW JHUHFKQHW GD 6XSHUFRQWURO VR VFKQHOO XQG JQDGHQORVUHDJLHUHQZUGH =XHUVW NDP HLQ 1XOO]HLW)XQNVSUXFK DQ PLW GHP 6XSHUFRQWURO GDV 7RGHVXUWHLO IU³$PXQ6LWDLYHUNQGHWHXQGVRIRUWGDQDFKEHVFKOHXQLJWHGHU2SHUDWRULQ 5LFKWXQJGHVXQHQGOLFKHQ$EJUXQGVXQGVHLQH%HVFKOHXQLJXQJZXUGHYHUVWlUNW GXUFKGHQXQJHKHXUHQ6RJGHQGLHGHJHQHULHUWHXQGNROODELHUWH0DWHULHEDOOXQJ YRQXQ]lKOLJHQ7ULOOLRQHQ6RQQHQPDVVHQDXIMHGHDQGHUH0DWHULHDXVEWH %DQVKHHURRP ZXWH GD VLH GLHVHQ *HZDOWHQ KLOIORV DXVJHOLHIHUW ZDU XQG GD VLH ]XVDPPHQ PLW GHP 2SHUDWRU GXUFK GHQ 8QWHUVFKLHG ]ZLVFKHQ GHU

*UDYLWDWLRQDP%XJXQGDP+HFNSUDNWLVFKLQ1XOO]HLWVRODQJJH]RJHQZUGH GD VLH XQG LKU )DKU]HXJ QXU QRFK HLQH .HWWH ORVH DQHLQDQGHUJHUHLKWHU $WRPH ZDUHQGLHVLFKVFKQHOOHUDOVHLQ7RGHVVFKUHLYHUORUHQ $OOHUGLQJV ZUGH HV HLQH JHZLVVH =HLW GDXHUQ ELV VLH WLHI JHQXJ LQ GLH 0DWHULHEDOOXQJ HLQJHWDXFKW ZDU XQG VLH NODPPHUWH VLFK YHU]ZHLIHOW DQ GLH +RIIQXQJ $VVXU+DWRQ P|FKWH GHQ 1RWUXI HPSIDQJHQ XQG LKUHQ 7RGHVVWXU] LUJHQGZLHVWRSSHQ $OV GLH )LQVWHUQLV EHU LKU ]XVDPPHQVFKOXJ HUORVFK PLW GHP /LFKW DXFK GLHVH XQVLQQLJH+RIIQXQJ 6LHZXUGHYRQLUJHQGHWZDVJHZHFNW 'HQQRFKVDKXQGK|UWHVLHQLFKWV 9|OOLJ YHUNUDPSIW GXUFK GHQ 6FKRFN GHQ VLH LP $QJHVLFKW GHV DQVFKHLQHQG VLFKHUHQ 7RGHV HUOLWWHQ KDWWH YHUPRFKWH VLH QLFKW HLQHQ HLQ]LJHQ 0XVNHO ]X EHZHJHQ 'RFK GDV ZDV VLH JHZHFNW KDWWH UWWHOWH JHGXOGLJ ZHLWHU XQG O|VWH GLH 6WDUUH DOOPlKOLFK ,KU EHJDQQ ]X GlPPHUQ GD VLH QLFKW DOOHLQ ZDU VRQGHUQ GD LKUH ;HQR .RPELQDWLRQ IDVW PLW LKU YHUVFKPRO]HQ ZDU LQGHP VLH LKUH HLJHQHQ V\QWKR RUJDQLVFKHQ )XQNWLRQHQ GHQ QDWUOLFKHQ RUJDQLVFKHQ )XQNWLRQHQ YRQ LKU DQJOLFKHQ XQG VLH GDQDFK GXUFK VLFK ODQJVDP VWHLJHUQGH 5FNNRSSOXQJ YHUVWlUNWHQ 'HQQRFKZDJWHVLHHVQRFKQLFKWGLH$XJHQ]X|IIQHQ 6LH IUFKWHWH GDQQ DEHUPDOV LQ GLH 8QHQGOLFKNHLW GHV ILQVWHUHQ $EJUXQGV ]X VWU]HQXQGHUOHEHQ]XPVVHQZLHHUEHULKU]XVDPPHQVFKOXJEHYRUHUVLHLQ HLQHUDVFKYHUZHKHQGH.HWWHVXEDWRPDUHU7HLOFKHQYHUZDQGHOWH %LV VLH EHJULII GD LKU /HEHQVUK\WKPXV QLHPDOV YRQ LKUHP ;HQR KRFKJHVFKDXNHOWZRUGHQVHLQNRQQWHZHQQVLHWDWVlFKOLFKGDV6FKLFNVDOHUOLWWHQ KlWWHDQGDVVLHVLFK]XHULQQHUQJODXEWH =|JHUQGKREHQVLFKLKUH/LGHU ,KUH$XJHQHUEOLFNWHQPLOGHVJHOEOLFKHV/LFKW'DVZDUQLFKWGHU7RGVRQGHUQ GLH+HOOLJNHLWHLQHUOHEHQVIUHXQGOLFKHQ:HOWXQWHUHLQHUZDUPHQ6RQQH 6LH|IIQHWHGLH$XJHQJDQ] *OHLFK]HLWLJVSUWHVLHLKUHQ.|USHUVWlUNHU²XQGVLHVSUWHGLHV\PSDWKLVFKHQ ,PSXOVHGHV;HQRVGHUVLHXPKOOWHXQGQXULKUHQ.RSIIUHLOLH (LQHQ0RPHQWODQJGDFKWHVLHVLHZlUH$PXQ6LWDL$EHUGDQQZXWHVLHGD $PXQ6LWDLV3HUV|QOLFKNHLWYRQ6XSHUFRQWUROJHO|VFKWZRUGHQZDUXQGQXUQRFK IUDJPHQWDULVFK LP WLHIVWHQ :LQNHO GHV TXDVLELRSKRULVFKHQ .RPSOH[HV VFKOXPPHUWH 8QGVLHZXWHGDVLH%DQVKHHURRPZDUGDV%HZXWVHLQYRQHWZDV)UHPGHP GDVODQJH=HLWYRQ$PXQ6LWDLXQWHUGUFNWZRUGHQZDUXQGLKU(LJHQOHEHQHUVW QDFKGHP9HUO|VFKHQYRQ$PXQ6LWDLV3HUV|QOLFKNHLW]XUFNJHZRQQHQKDWWH 6LHIXKUKRFKDOVVLHVLFKDQQRFKPHKUHULQQHUWHDQGDVZDV6XSHUFRQWUROLKU YHUUDWHQKDWWHXQGDQGHQ2SHUDWRUGHQ6XSHUFRQWUROLKU]XU9HUIJXQJJHVWHOOW KDWWHGDPLWVLHGLH1lKHGHU0DWHULHTXHOOH+RUWDFKHUUHLFKHQNRQQWH

1DWUOLFK KDWWH 6XSHUFRQWURO LKU QLFKW JHWUDXW XQG GDIU JHVRUJW GD VLH VWDUE VREDOG VLH HWZDV WDW GDV QLFKW LP 6LQQ GLHVHU PlFKWLJHQ V\QWKHWLVFKHQ ,QWHOOLJHQ]ODJ 6LHUXQ]HOWHGLH6WLUQ $EHULFKELQQLFKWZLUNOLFKJHVWRUEHQGDFKWHVLHYHUZLUUW:LHLVWGDVP|JOLFK" $OOHLQPLWPHLQHP:LOOHQXQGPHLQHU;HQR.RPELQDWLRQKlWWHLFKQLFKWVJHJHQ 6XSHUFRQWURODXVULFKWHQN|QQHQ %DQVKHHURRPEOLFNWHVLFKXP 9RP 2SHUDWRU ZDU QLFKWV ]X VHKHQ (V JDE DXFK NHLQH 7UPPHU GLH GDUDXI KLQGHXWHWHQ GD GHU 2SHUDWRU KDYDULHUW ZlUH 5LQJVXP GHKQWH VLFK GHU *UXQG HLQHV 7DOHV GHVVHQ JUQHV *UDV DQVFKHLQHQGOFNHQORVZDUXQGVLFKDXFKGRUW QRFKHUVWUHFNWHZRVLFKGLH7DOZlQGHQDFKREHQZ|OEWHQ %DQVKHHURRPVWDQGDXIXQGGUHKWHVLFKHLQPDOXPVLFKVHOEVW hEHUDOOGHUJOHLFKH$QEOLFN 'LH 7DOZlQGH VFKLHQHQ ULQJVXPKHU VR KRFK DQ]XVWHLJHQ GD VLH PLW GHP PLOGHQ JHOEOLFKHQ /LFKW YHUVFKPRO]HQ GDV JOHLFKPlLJ YRP JDQ]HQ +LPPHO KHUDEVFKLHQ 9RQHLQHU6RQQHZDUQLFKV]XVHKHQ ³:HUELVWGX" 'LHVDQIWHXQGGHQQRFKHQHUJLVFKH6WLPPH³VWDQGXUSO|W]OLFKLQGHU/XIW $EHUPDOV GUHKWH %DQVKHHURRP VLFK XP VLFK VHOEVW 'RFK YRQ GHU 3HUVRQ GLH JHVSURFKHQKDWWHZDUQLFKWV]XVHKHQ ³:HUELVWGX"ULHIVLH³8QGZRELVWGX" ³'DV VLQG ]ZHL JXWH )UDJHQ HUVFKROO HV YRQ EHUDOO ]XJOHLFK ³$EHU PHLQH )UDJHZDUQLFKWVFKOHFKWHU'HQQRFKKDVWGXVLHQLFKWEHDQWZRUWHW ³,FK ELQ QLFKW $PXQ6LWDL DXFK ZHQQ LFK PLFK LQ GHP EHWUHIIHQGHQ .|USHU EHILQGHHUNOlUWH%DQVKHHURRPGHQQVLHKDWWHLQWXLWLY9HUWUDXHQ]XGHPJHIDW GHU]XLKUJHVSURFKHQKDWWH³,FKELQ%DQVKHHURRP ³,FK ZHL GD GX QLFKW $PXQ6LWDL ELVW HUNOlUWH GLH 6WLPPH ³$EHU GX ELVW DXFK QLFKW %DQVKHHURRP REZRKO HV PLU VFKHLQW DOV ZUGHVW GX GLU GDV WDWVlFKOLFK HLQELOGHQ 9HUVXFKH GLFK DQ GHLQH ,GHQWLWlW KLQWHU %DQVKHHURRP ]X HULQQHUQ ³,FK ELQ QLFKW %DQVKHHURRP" HFKRWH VLH XQG JODXEWH VLFK GDUDQ ]X HULQQHUQ GD VLH PDQFKPDO HLQH $KQXQJ JHKDEW KDWWH DOV ZlUH VLH QLFKW ZLUNOLFK %DQVKHHURRPGLH:RKQXQJGHU7RGHVIHH 'RFK VR VHKU VLH VLFK DXFK DQVWUHQJWH HV JHODQJ LKU QLFKW VLFK DQ HLQH DQGHUH 3HUV|QOLFKNHLWRGHUDXFKQXUDQHLQHQDQGHUHQ1DPHQ]XHULQQHUQ ³(VJHKWQLFKWVDJWHVLH³$EHUGXKDVWQRFKNHLQHPHLQHU)UDJHQEHDQWZRUWHW :DUXPOlWGXGLFKQLFKWZHQLJVWHQVVHKHQ" ³$XVGHPJOHLFKHQ*UXQGDXVGHPGXGLFKQLFKWVHKHQOlWQLFKWKLHUGHQQ KLHU ELVW GX QXU LP =HURWUDXP JHQDX ZLH LFK 'RFK ]X GHLQHQ)UDJHQ,FKELQ $VVXU+DWRQ XQG LFK EHILQGH PLFK LQ PHLQHU 7LHIHQVSKlUH DXI GHP :HJ ]X GHLQHP.|USHUGHULQHLQHP.ULVWDOODXVJHIURUHQHU(QHUJLHEHUGHP*URHQ $EJUXQGKlQJW

³$VVXU+DWRQ EUDFK HV IUHXGLJ HUUHJW DXV %DQVKHHURRP KHUDXV ³'HU .ULHJHU YRQ+RUWDFK'HU.ULHJHUGHV.RVPRNUDWHQ+RUWDFK ³0LFK.ULHJHU]XQHQQHQLVW]XVLPSHOHQWJHJQHWHGLH6WLPPH$VVXU+DWRQV ³0HLQH )XQNWLRQHQ VLQG VHKU YLHOIlOWLJ ,FK ELQ HLQ %HDXIWUDJWHU GHV .RVPRNUDWHQ+RUWDFKXQGPXWXQZDVJHUDGHQRWZHQGLJLVW'LH9HUQLFKWXQJ DQGHUHU,QWHOOLJHQ]HQJHK|UWQLFKWGD]XHVVHLGHQQVLHEUlFKWHQVLFKVHOEHUEHL GHP 9HUVXFKH XP DQGHUHV LQWHOOLJHQWHV /HEHQ DXV]XO|VFKHQ GDV YRQ PLU EHVFKW]WZLUG ³,FK YHUVWHKH IOVWHUWH %DQVKHHURRP ² XQG YHUVWDQG GRFK NDXP HWZDV 6LH ZXWHQXUGDVLHIURKGDUEHUZDULKUH,QWXLWLRQEHVWlWLJW]XEHNRPPHQGD VLH NHLQH )XUFKW YRU $VVXU+DWRQ KDEHQ PXWH (U ZDU NHLQ 0DQQ GHV 6FKZHUWHVGHUDOOH3UREOHPHQXUPLW%OXWO|VWH³,VWHVVFKOLPPGDLFKQLFKW $PXQ6LWDLELQ" ³(V LVW VFKOLPP GD GLH ,QNDUQDWLRQ GHU .RVPRNUDWLQ $PXQ6LWDL XQZLHGHUEULQJOLFKYHUJDQJHQLVWVDJWH$VVXU+DWRQ³'DVLVWHLQXQHUVHW]OLFKHU 9HUOXVW$EHUHVLVWEHUKDXSWQLFKWVFKOLPPGDGXQLFKW$PXQ6LWDLELVW-HGH NDQQQXUGLHVHLQGLHVLHLVW%HGDXHUOLFKLVWQXUGDGXQLFKWZHLWZHUGXELVW XQGGDLFKGHLQHZDKUH,GHQWLWlWQLFKW]XHUNHQQHQYHUPDJ'DVPXDQHLQHU [GLPHQVLRQDOHQ (PLVVLRQ GLHVHV TXDVLELRSKRULVFKHQ .RPSOH[HV OLHJHQ GHU LQ GDV*HKLUQGHUNRSLHUWHQ,QNDUQDWLRQ$PXQ6LWDLVHLQJHSIODQ]WZXUGH %DQVKHHURRP HULQQHUWH VLFK OFNHQORV DQ GHQ =HURWUDXP LQ GHP VLH GLHVH :DKUKHLW XQG DQGHUH :DKUKHLWHQ HUIDKUHQ KDWWH ² XQG VLH ZDU YHUEOIIW GDUEHUGD$VVXU+DWRQGDUEHU%HVFKHLGZXWH ³'DVZlUHP|JOLFKHUZLGHUWHVLH³'LH.RSLHUHUGHU,QNDUQDWLRQZDUHQ0HLVWHU LKUHV)DFKHV ³'DUJKHWLVFKH 0DWHULH6XJJHVWRUHQ VDJWH $VVXU+DWRQ XQG HV NODQJ LUJHQGZLHJUEHOQG 6FKZHLJHQ EUHLWHWH VLFK DXV ELV VLFK %DQVKHHURRP GDUDXI EHVDQQ ZHVKDOE VLH GHQ.RQWDNW]X$VVXU+DWRQJHVXFKWKDWWH ³6XSHUFRQWURO VDJWH PLU GLH *HQHWLVFKH $OOLDQ] EHDEVLFKWLJWH GLH 0DFKW EHU GDV =HLWLPSHULXP ]X EHUQHKPHQ XP HV DOV %DVLV IU GLH 'XUFKIKUXQJ LKUHV 3ODQHV]XEHQXW]HQGLH'LYHUVLWlWLP.RVPRV]XEHVHLWLJHQHUNOlUWHVLH³,FK ZDUYRQ6XSHUFRQWUROGD]XDXVHUVHKHQGLH=LYLOLVDWLRQHQGHV=HLWLPSHULXPVIU HLQHQ -DKUWDXVHQGNULHJ JHJHQ GLH *HQHWLVFKH $OOLDQ] ]X PRWLYLHUHQ %H]LHKXQJVZHLVHZDUGLHQHXH3HUV|QOLFKNHLW$PXQ6LWDLVGD]XDXVHUVHKHQ ³,FK ZHL HUZLGHUWH $VVXU+DWRQ VDQIW ³8QG LFK ZHL DXFK GD GX YRQ PLU HUZDUWHVW VRZRKO GDV =HLWLPSHULXP DOV DXFK GLH *HQHWLVFKH $OOLDQ] ]X ]HUVW|UHQ$EHUZHGHUGDVHLQHQRFKGDVDQGHUHVWHKWPLU]X%DQVKHHURRP ³$EHU DOV %HDXIWUDJWHU GHU .RVPRNUDWHQ PXW GX GRFK GLH 0DFKW KDEHQ QHJDWLYH(QWZLFNOXQJHQ]XYHUKLQGHUQEHJHKUWH%DQVKHHURRPDXI ³,FK ELQ QXU GHU %HDXIWUDJWH GHV .RVPRNUDWHQ +RUWDFK VWHOOWH $VVXU+DWRQ ULFKWLJ³0HLQH$XIJDEHQVLQGYLHOIlOWLJDEHUDXFKEHJUHQ]W0DQDKPHQJHJHQ GDV=HLWLPSHULXPRGHUJHJHQGLH*HQHWLVFKH$OOLDQ]JHK|UHQQLFKWGD]X ³-DDEHUGXKlWWHVWGRFKGLH0DFKWULHIVLHHQWUVWHW

³%LWWH XQWHUEUDFK GHU %HDXIWUDJWH VLH ³1LFKWV ZLUG VR RIW PLEUDXFKW ZLH 0DFKW 'HVKDOE JHK|UW HV ]X GHQ XQDQWDVWEDUHQ 3ULQ]LSLHQ HLQHV %HDXIWUDJWHQ YRQ.RVPRNUDWHQVHLQH0DFKWQLHPDOVZLOONUOLFKHLQ]XVHW]HQVRQGHUQQXULQ GHP 5DKPHQ GHQ VHLQH 0LVVLRQ LKP YRUJHVWHFNW KDW 'DV KDW JXWH *UQGH %DQVKHHURRP %HLVSLHOVZHLVH GHQ GD %HDXIWUDJWH ZLH LFK QLFKW JHQJHQG NRVPLVFKHQ hEHUEOLFN EHVLW]HQ XP EHXUWHLOHQ ]X N|QQHQ ZHOFKH (QWZLFNOXQJHQ LP QRUPDOHQ 8QLYHUVXP SRVLWLY XQG ZHOFKH QHJDWLY ]X ZHUWHQ VLQG ,FK ZHL QLFKW HLQPDO RE GLH .RVPRNUDWHQ VHOEVW GLHVHQ hEHUEOLFN EHVLW]HQ'DV*HIJHGHU(YROXWLRQLVW]XVHQVLEHODOVGD(LQJULIIHVWDWWILQGHQ GUIWHQGHUHQ$XVZLUNXQJHQQLFKWPLWDEVROXWHU6LFKHUKHLWYRUDXV]XEHUHFKQHQ VLQG 'DV DEHU WUDXHQ VLFK ZDKUVFKHLQOLFK VRJDU GLH .RVPRNUDWHQ LQ GHQ ZHQLJVWHQ)lOOHQ]X ³'DVOHXFKWHWPLUHLQPHLQWH%DQVKHHURRPQDFKHLQLJHP1DFKGHQNHQ³$EHU LFK KDEH 6XSHUFRQWURO HUOHEW XQG NDQQ PLU YRUVWHOOHQ ZDV HU PLW GHP =HLWLPSHULXPDQVWHOOHQNDQQ'HVKDOEEHILQGHLFKPLFKLQHLQHP=ZLHVSDOWGHU *HIKOH (LQDQGHUHU*HGDQNHNDPLKU ³:DV ZDU HLJHQWOLFK GLH 0LVVLRQ GHU RULJLQDOHQ ,QNDUQDWLRQ $PXQ6LWDLV" IUDJWHVLHJHVSDQQW ³(V LVW PLU QLFKW P|JOLFK GDV MHPDQGHP ]X YHUUDWHQ GHU QLFKW DXWRULVLHUW LVW GLHVH ,QIRUPDWLRQ ]X EHNRPPHQ HUNOlUWH $VVXU+DWRQ ³6HOEVW ZHQQ LFK GLU GHLQH )UDJH EHDQWZRUWHQ ZROOWH ZlUH HV PLU QLFKW P|JOLFK 8P HV PLW HLQHU 5HGHZHQGXQJ YRQ +RPLQLGHQ DXV]XGUFNHQ ,Q GLHVHU +LQVLFKW VLQG PHLQH /LSSHQYHUVLHJHOW %DQVKHHURRPEHUOHJWHODQJHGDQQVDJWHVLHEHGlFKWLJ ³$PXQ6LWDL NDP ZlKUHQG HLQHU KHLNOHQ 0LVVLRQ XP 'LH $PXQ6LWDL GLH VSlWHUYRQ'DUJKHWDDXVDXIEUDFKXPLKUH%HVWLPPXQJ]XVXFKHQZDUQLFKWGLH RULJLQDOH,QNDUQDWLRQ$EHUZHUDXHUYLHOOHLFKWGLUKlWWHGDVVFKRQHUNDQQW" ³1LHPDQG DQWZRUWHWH $VVXU+DWRQ ³$XHU YLHOOHLFKW HLQHP DQGHUHQ %HDXIWUDJWHQHLQHV.RVPRNUDWHQ:DUXPIUDJVWGX" ³'LH 'URLGHQ GLH GLH .RSLH LQ LKUH *HZDOW EUDFKWHQ PXWHQ VLH DOVR IU GLH RULJLQDOH ,QNDUQDWLRQ KDOWHQ UHVPLHUWH %DQVKHHURRP ³6LH PXWHQ IROJOLFK DXFKDQQHKPHQGD$PXQ6LWDLLKUHQ$XIWUDJNDQQWH ³'DVLVWZDKUVFKHLQOLFKPHLQWH$VVXU+DWRQ ³9LHOOHLFKW KDWWHQ VLH YRQ GLHVHP $XIWUDJ HUIDKUHQ VDJWH %DQVKHHURRP QDFKGHQNOLFK³'DVZlUHGRFKQLFKWXQP|JOLFKRGHU" ³(VZlUHQLFKWXQP|JOLFKJHZHVHQJDEGHU%HDXIWUDJWH]X³$EHULFKHUNHQQH QLFKWZRUDXIGXKLQDXVZLOOVW%DQVKHHURRP ³'LH'URLGHQKlWWHQVLFKHUMHGHU]HLWDOOHP|JOLFKHQ,QWHOOLJHQ]HQHLQIDQJHQXQG GXUFK N\EHUQHWLVFKH 0DQLSXODWLRQHQ DOV LKUH :HUN]HXJH HLQVHW]HQ N|QQHQ VLQQLHUWH %DQVKHHURRP ZHLWHU ³(V KlWWH QLFKW XQEHGLQJW $PXQ6LWDL VHLQ PVVHQHVVHLGHQQVLHKlWWHQEHLLKU,QIRUPDWLRQHQYHUPXWHWGLHVLHGULQJHQG EHQ|WLJWHQ ³'DVNOLQJWORJLVFKUlXPWH$VVXU+DWRQHLQ

³67$5*$7(VFKHLQWIUGLH'URLGHQHLQHHPLQHQWZLFKWLJH5ROOH]XVSLHOHQ HUNOlUWH %DQVKHHURRP VFKHLQEDU RKQH =XVDPPHQKDQJ PLW GHP ELVKHULJHQ )UDJHXQG$QWZRUWVSLHO ³67$5*$7("IUDJWHGHU%HDXIWUDJWHYHUVWlQGQLVORV ³,Q LUJHQGHLQHU =LYLOLVDWLRQ ZLUG GDV 6FKZDU]/RFK7UDQVLW6\VWHP GDV HLQ 5HOLNW GHV $OWHQ 9RONHV VHLQ VROO 67$5*$7( JHQDQQW HUOlXWHUWH %DQVKHHURRP ³'LH 'URLGHQ GLH $PXQ6LWDL JHIDQJHQDKPHQ EHQXW]WHQ HLQHQ 7HLO GLHVHV 5HOLNWV IU VLFK :HQQ VLH DQQDKPHQ GD VLH YRQ $PXQ6LWDL ZLFKWLJH,QIRUPDWLRQHQGDUEHUHUKDOWHQNRQQWHQZUGHGDVHUNOlUHQZDUXPVLH DXVJHUHFKQHW$PXQ6LWDLJHIDQJHQQDKPHQXQGPDQLSXOLHUWHQ 6LHKRELKUH6WLPPHXPDEVFKOLHHQGIHVW]XVWHOOHQ ³$PXQ6LWDLV 0LVVLRQ KDWWH PLW GHQ hEHUUHVWHQ GHV XUDOWHQ 6FKZDU]/RFK 7UDQVLW6\VWHPV ]X WXQ ,FK NDQQ PLU QLFKW YRUVWHOOHQ GD VLH GLHVH 5HOLNWH UHVWDXULHUHQ VROOWH %OHLEW HLJHQWOLFK QXU HLQHV 6LH VROOWH VLH XQEUDXFKEDU PDFKHQ ³0LUVLQG]ZDUGLH/LSSHQYHUVLHJHOWZDV$PXQ6LWDLV0LVVLRQDQJHKWDEHUGDV EHGHXWHWQLFKWGDLFKHLQHHLQPDODXVJHVSURFKHQH:DKUKHLWDEVWUHLWHQPX %DQVKHHURRP YHUVSUWH 7ULXPSK DEHU QXU YRUEHUJHKHQG GHQQ DOOHV ZDV VLH VDJWH RGHU WDW VROOWH QXU GHP =ZHFN GLHQHQ OHW]WHQ (QGHV ]X VLFK VHOEVW ]X ILQGHQ ³$PXQ6LWDLLVWQLFKWPHKUHUNOlUWHVLH³$EHULFKVWHKHDQLKUHU6WHOOH²XQG LFKELQEHUHLWPLWGHLQHU8QWHUVWW]XQJLKUH0LVVLRQ]XHUIOOHQ$VVXU+DWRQ 'HU %HDXIWUDJWH GHV .RVPRNUDWHQ +RUWDFK VFKZLHJ HLQH =HLWODQJ GDQQ HUZLGHUWHHUPLWVSU|GHU6WLPPH ³'HLQH (LQVDW]EHUHLWVFKDIW YHUGLHQW $QHUNHQQXQJ %DQVKHHURRP 'RFK DXFK .RVPRNUDWHQ VLQG QLFKW XQIHKOEDU $PXQ6LWDLV 0LVVLRQ HQWVSUDQJ HLQHU )HKOHLQVFKlW]XQJ GHU /DJH ,Q]ZLVFKHQ KDEH LFK :HLVXQJ YRQ +RUWDFK GLH 5HOLNWHGHVXUDOWHQ6WHUQHQVWUDHQ6\VWHPVQLFKWDQ]XWDVWHQ6HOEVWGDQQZHQQ HLQ7HLOYRQLKQHQPLEUDXFKWZUGHKlWWHGDVNHLQHQHJDWLYHQ$XVZLUNXQJHQ DXI GLH ZHLWHUH (YROXWLRQ ² VR ZLH GLH .RVPRNUDWHQ HV VHKHQ (KHU LP *HJHQWHLO 'DPLW HUVFK|SIW VLFK DOOHUGLQJV PHLQH 0|JOLFKNHLW GLU LQ GLHVHU 6DFKH $XVNQIWH ]X HUWHLOHQ ,FK PX VDJHQ GX KDVW PLFK DXVJHWULFNVW XQG GDGXUFKPHKUHUIDKUHQDOVGXVROOWHVW ³$EHU OHW]WHQ (QGHV QW]W PLU GDV JDU QLFKWV VWHOOWH %DQVKHHURRP HQWWlXVFKW IHVW³,FKZHLQLFKWZHULFKZLUNOLFKELQ²XQGLFKZHLQLFKWZR]XHVPLFK EHUKDXSWJLEW ³6RVFKQHOOZUGHLFKQLFKWUHVLJQLHUHQUJWH$VVXU+DWRQPLOGH³.HKUHMHW]W DXV GHP =HURWUDXP ]XUFN GHQQ PHLQH 7LHIHQVSKlUH HUUHLFKW VRHEHQ GHQ .ULVWDOOLQGHPGHLQ.|USHUEHUGHP*URHQ$EJUXQGKlQJWXQGLFKPXLKQ VFKQHOOVWHQVEHUJHQVRQVWVWU]WHUGRFKQRFKDE ³-DHUZLGHUWH%DQVKHHURRP³,FKYHUVWHKH$EHU]XPHUVWHQPDOZHLLFKQLFKW ZLHLFKPLFKDXVHLQHP=HURWUDXPO|VHQNDQQ,UJHQGHWZDVKlOWPLFKKLHUIHVW ³'DVLVWQXUGLH%HKDUUXQJVNUDIWYRQ=8)/8&+7GHU5LQJZHOWLP$EJUXQG VDJWHGHU%HDXIWUDJWHVFKQHOO³'XEHUZLQGHVWVLHLQGHPGXGLUEHZXWPDFKVW

GD GX K|KHU KLQDXIJHKHQ PXW (QWVFKXOGLJH GD LFK GLU GDV QLFKW JOHLFK VDJWH ³+|KHUKLQDXIZLHGHUKROWH%DQVKHHURRPDXWRPDWLVFK³=8)/8&+7EHILQGHW VLFKDOVRLP*URHQ$EJUXQG6LHHUVFKDXGHUWH ³=8)/8&+7LVWVWHWVDXFKEHIULVWHWGUlQJWH$VVXU+DWRQ³.RPPMHW]WRGHU GXELVWYHUORUHQ ³,FK NRPPH $VVXU+DWRQ IOVWHUWH %DQVKHHURRP XQG NRQ]HQWULHUWH VLFK PLW DOOHU.UDIW 6&+5(,$86'(0'81.(/ %OXWURWHV /LFKW EUDFK VLFK YLHOWDXVHQGIDFK LQ GHQ XQ]lKOLJHQ )DFHWWHQ GHV ULHVLJHQ .ULVWDOOV LQ GHVVHQ 0LWWHOSXQNW %DQVKHHURRP DXV GHP =HURWUDXP HUZDFKWH (UVFKURFNHQ EOLFNWH VLH VLFK XP ZlKUHQG GDV .ULVWDOOJLWWHU LQ 6FKZLQJXQJHQ JHULHW GLH HV HLQHU =HUUHLSUREH DXVVHW]HQ ZUGHQ ZHQQ VLH DQ 6WlUNH ]XQDKPHQ 'RFK QLFKW GHVZHJHQ ZDU %DQVKHHURRP HUVFKURFNHQ VRQGHUQ GHVKDOE ZHLO HV HLJHQWOLFKXQP|JOLFKZDUGDVLFKHLQHVROFKH/LFKWIOOHLQGHQ.ULVWDOOIDFHWWHQ EUDFK REZRKO GHU .ULVWDOO DXV JHIURUHQHU (QHUJLH EHU GHP $EJUXQG GHU 0DWHULHTXHOOH VFKZHEWH DXV GHU VLFK +RUWDFK HQWZLFNHOW KDWWH XQG PLW GHU GHU .RVPRNUDWDXIXQEHJUHLIOLFKH:HLVHLQ9HUELQGXQJ]XVWHKHQVFKLHQ 'HU $EJUXQG KlWWH DEVROXW OLFKWORV VHLQ VROOHQ XQG DOV %DQVKHHURRP KLQHLQEOLFNWH VDK VLH WDWVlFKOLFK QLFKWV 'LH 6FKZlU]H GHV XQHQGOLFK WLHIHQ $EJUXQGV OLH VLFK QXU HUDKQHQ QLFKW RSWLVFK ZDKUQHKPHQ ZHLO HU NHLQ /LFKW UHIOHNWLHUHQ NRQQWH 'LH PDWWH +HOOLJNHLW GHU 6WHUQH XQG 6WHUQHQLQVHOQ GLH +XQGHUWH RGHU 7DXVHQGH YRQ /LFKWMDKUHQ ZHLW HQWIHUQW ZDUHQ XQG IU %DQVKHHURRP EHU GHP .ULVWDOO VWDQGHQ ZDU QLFKW QXU ]X VFKZDFK VRQGHUQ DXFK GXUFK GDV JHZDOWLJH 6FKZHUHIHOG GHU 0DWHULHTXHOOH LQ 5LFKWXQJ K|KHUHU )UHTXHQ]HQ GHV HOHNWURPDJQHWLVFKHQ 6SHNWUXPV YHUVFKREHQ VR GD HV YLROHWW YHUIlUEWHUVFKLHQ 'HQQRFKZLUNWHGHU.ULVWDOODOVZlUHHULQIULVFKYHUJRVVHQHV%OXWJHWDXFKW 'LH8UVDFKHGDIUHQWGHFNWH%DQVKHHURRPHUVWDOVVLH]XU6HLWHEOLFNWH 9RQGRUWQlKHUWHVLFKHLQJURHVHLI|UPLJHV2EMHNWGHVVHQVWXPSIJUDXHSRU|V HUVFKHLQHQGH2EHUIOlFKHYRQEOXWURWHQ)ODPPHQXP]QJHOWZXUGH :LHEUHQQHQGH6WHLQNRKOHGXUFKIXKUHV%DQVKHHURRP 'HU JHGDFKWH %HJULII 6WHLQNRKOH ZROOWH WLHI YHUJUDEHQH (ULQQHUXQJHQ LQ LKU ZHFNHQ DEHU VLH HUKLHOW QLFKW GLH =HLW XP LQ GHQ :LQNHOQ LKUHV %HZXWVHLQV QDFKLKQHQ]XVXFKHQ 'DV HLI|UPLJH 2EMHNW VWLH QlPOLFK PLW KRKHU *HVFKZLQGLJNHLW PLW VHLQHP VWXPSIHQ (QGH JHJHQ GHQ .ULVWDOO XQG OLH LKQ LQ HLQHP JHVSHQVWLVFKHQ $XIIODFNHUQYHUJHKHQ 8QGQDKPDXIZDVHULQVLFKJHERUJHQKDWWH %DQVKHHURRPNlPSIWHVHNXQGHQODQJXPLKU*OHLFKJHZLFKWDOVVLHVLFKDXIGHP VLOEULJ VFKLPPHUQGHQ %RGHQ HLQHV KDOENXJHOI|UPLJHQ 5DXPHV YRQ XQJHIlKU

]HKQ 0HWHUQ +|KH ZLHGHUIDQG EHU GHVVHQ :DQGXQJ IDUELJH +RORELOGHU XQG 6\PEROHLQVFKQHOOHP:HFKVHOKXVFKWHQ 6LH JHZDQQ LKU *OHLFKJHZLFKW VFKQHOO ZLHGHU GRFK GDQDFK UDQJ VLH XP LKUH )DVVXQJGHQQVLHVDKVLFKHLQHP:HVHQJHJHQEHUGDVVLHDQHLQHYHUJHVVHQH %HJHJQXQJ HULQQHUQ ZROOWH XQG GDV PLW LKUHU ZDKUHQ ,GHQWLWlW ]X WXQ KDEHQ PXWH (LQ ]LUND GUHL 0HWHU KRKHV *HVFK|SI PLW NXU]HQ VWlPPLJHQ 6lXOHQEHLQHQ EHUODQJHQ $UPHQ XQG HLQHP NXJHOI|UPLJHQ JURHQ Y|OOLJ KDDUORVHQ 6FKlGHO RKQH 1DVHQDXIZ|OEXQJ GDIU MHGRFK PLW GUHL $XJHQ YRQ GHQHQ GDV PLWWOHUH U|WOLFKJOKWH 'LH.OHLGXQJEHVWDQGDXVHLQHPVFKZDU]HQ5DXPVFKXW]DQ]XJDXVGQQHPDEHU DXJHQVFKHLQOLFK VWUDSD]LHUIlKLJHP 0DWHULDO PLW ]DKOUHLFKHQ $XHQWDVFKHQ (LQ EUHLWHU EOXWURWHU *UWHO XPVFKODQJ GLH +IWHQ (EHQIDOOV EOXWURW ZDUHQ GLH :DGHQVWLHIHO GLH GLFNHU HUVFKLHQHQ DOV GLH .RPELQDWLRQ DEHU PLW LKQHQ HLQH (LQKHLW ELOGHWHQ 'LH IQIILQJULJHQ VHKU NUlIWLJ ZLUNHQGHQ +lQGH GHU YRU GHU EUHLWHQ%UXVWYHUVFKUlQNWHQ$UPHZDUHQQDFNWGXQNHOEUDXQOHGULJXQGKDDUORV 'LH (UVFKHLQXQJ ZDU GD]X DQJHWDQ EHL DOOHQ NOHLQHUHQ /HEHZHVHQ )XUFKW ]X HUUHJHQ 1LFKWVREHL%DQVKHHURRP 6LHIKOWHVLFKDXIXQHUNOlUOLFKH:HLVH]XGHP*LJDQWHQKLQJH]RJHQ 'HU*LJDQWEHZHJWHGLHVFKPDOHQ/LSSHQXQGVDJWH ³,FK ELQ $VVXU+DWRQ :LOONRPPHQ DQ %RUG PHLQHU 7LHIHQVSKlUH %DQVKHHURRP ³,FKGDQNHGLUGDIUGDGXPHLQ/HEHQJHUHWWHWKDVW$XVVXU+DWRQHUZLGHUWH VLH YHUZLUUW ZHJHQ VHLQHV $XVVHKHQV ³(QWVFKXOGLJH ELWWH GD LFK GLFK VR DQVWDUUH (V LVW ZHLO LFK GLFK PLU JDQ] DQGHUV YRUJHVWHOOW KDEH ² DOV %HDXIWUDJWHQHLQHV.RVPRNUDWHQ ³,FKVHKHLQGHLQHP%HZXWVHLQZLHGXPLFKVLHKVWVWHOOWH$XVVXU+DWRQIHVW ³$EHUGDVDOVZDVGXPLFKVLHKVWZLUGYRQGHLQHP8QWHUEHZXWVHLQLQGHLQH RSWLVFKH :DKUQHKPXQJ YRQ PLU KLQHLQSURML]LHUW (V LVW QLFKW PHLQH ZDKUH (UVFKHLQXQJVRQGHUQGDVDOVZDVGHLQ8QWHUEHZXWVHLQPLFKVHKHQZLOO-HGHV ,QGLYLGXXPVLHKWPLFKDQGHUVGHQQQLHPDQGYHUPDJPHLQHZDKUH(UVFKHLQXQJ ]X VHKHQ $OOHUGLQJV VHKHQ PLFK GLH PHLVWHQ ,QWHOOLJHQ]HQ DOV LGHDOLVLHUWH (EHQELOGHUYRQVLFKVHOEVW(VPXHLQHQVHKUEHGHXWVDPHQ*UXQGGDIUJHEHQ GDGXPLFKVRJDQ]DQGHUVVLHKVWDOVGXVHOEVWRSWLVFKHUVFKHLQVW ³-D LFK GHQNH DXFK JDE %DQVKHHURRP ]XUFN ³'HLQ $QEOLFN NRPPW DXV PHLQHQYHUVFKWWHWHQ(ULQQHUXQJHQXQGHUZHFNWSRVLWLYH(PSILQGXQJHQLQPLU 0HKUZHLLFKQRFKQLFKW ³,PPHUKLQVFKHLQWGLH$XVVLFKWJHZDFKVHQ]XVHLQGDGXGHLQHZDKUH,GHQWLWlW ZLHGHUILQGHVW %DQVKHHURRP HUNOlUWH $VVXU+DWRQ ³8QG GX PXW VLH ZLHGHUILQGHQ ZHQQ GX MH LQ GHQ 5DXP XQG GLH =HLW ]XUFNNHKUHQ ZLOOVW DXV GHQHQGXNRPPVW%LVGDKLQVFKODJHLFKYRUGDGXPLFKDXIPHLQHU0LVVLRQ EHJOHLWHVW 2IIHQ JHVDJW JLEW HV JDU NHLQH DQGHUH 0|JOLFKNHLW ZHQQ GX QLFKW EHUGHP*URHQ$EJUXQGDXVPHLQHU7LHIHQVSKlUHVWHLJHQZLOOVW

³1XU GDV QLFKW ZHKUWH %DQVKHHURRP HUVFKDXGHUQG DE ³$EHU VDJHPLU+HLW GHLQ )DKU]HXJ GHVKDOE 7LHIHQ6SKlUH ZHLO HV VLFK GXUFK HLQH 'LPHQVLRQ EHZHJWGLHXQWHU GHP5DXP=HLW.RQWLQXXPGHVQRUPDOHQ8QLYHUVXPVOLHJW" ³'LH 'LPHQVLRQ GLH GX PHLQVW LVW MHQH GLH DOOHV GXUFK]LHKW XQG GLH .QRWHQSXQNWH MHQHU GLPHQVLRQDO EHUJHRUGQHWHQ 'RSSHOKHOL[ ELUJW GLH LGHQWLVFK PLW GHP 0RUDOLVFKHQ .RGH GHV 8QLYHUVXPV LVW HUNOlUWH GHU %HDXIWUDJWH +RUWDFKV ³=X GLHVHU 'LPHQVLRQ KDEH LFK ZlKUHQG PHLQHU JHJHQZlUWLJHQ 0LVVLRQ NHLQHQ =XWULWW 0HLQ )DKU]HXJ KHLW 7LHIHQVSKlUH ZHLO HVVLFK]XUhEHUZLQGXQJNRVPLVFKHU'LVWDQ]HQGXUFKGLH)LQVWHUQLVGHV6XSHU %ODFN+ROHV EHZHJW GDV GDV QRUPDOH 8QLYHUVXP ]XVDPPHQKlOW XQG GHQ LPPHUZlKUHQGHQ5K\WKPXVVHLQHV6WHUEHQVXQGVHLQHU:LHGHUJHEXUWJDUDQWLHUW 'HU %HJULII 6XSHU%ODFN+ROH NHQQ]HLFKQHW GLHVHV 0HGLXP DEHU QXU JOHLFKQLVKDIW ,FK YHVWHKH GDFKWH %DQVKHHURRP 6RZHLW ,QWHOOLJHQ]HQ PHLQHU (YROXWLRQVVWXIH VRHWZDVYHUVWHKHQN|QQHQXQGGDPLWLVWHVQLFKWZHLWKHU ³$PXQ6LWDL PX PLW LKUHU 3$51$;( GXUFK GLHVHOEH 'XQNHOKHLW JHIORJHQ VHLQ GLH XQVHU 8QLYHUVXP XPJLEW VDJWH VLH QDFKGHQNOLFK ³$EHU GLHVHV )DKU]HXJZDUNHLQH7LHIHQVSKlUHVRQGHUQHLQH0RUXVSKlUH ³'DVLVWULFKWLJEHVWlWLJWH$VVXU+DWRQRKQHGLHXQPLYHUVWlQGOLFKH)UDJH]X EHDQWZRUWHQ GLH %DQVKHHURRP DQJHGHXWHW KDWWH GLH )UDJH ZDUXP $PXQ6LWDL HLQH 0RUXVSKlUH IU GHQ =ZHFN EHQXW]WH IU GHQ $VVXU+DWRQ HLQH 7LHIHQVSKlUHQDKP %DQVKHHURRP IDQG GLHVHV 9HUKDOWHQ DUURJDQW GRFK DOV $VVXU+DWRQ VLH DXIIRUGHUWH VLFK ]X VHW]HQ JHKRUFKWH VLH XQG QDKP DXI GHP 6HVVHO 3ODW] GHU VLFKDXVGHU:DQGKLQWHULKUKHUDXVELOGHWHXQGVLFKLKUHQ.|USHUIRUPHQDQSDWH $VVXU+DWRQ EOLHE DXIUHFKW VWHKHQ XQG EOLFNWH VWDUU DXI MHQH +RORELOGHU XQG 6\PEROH GLH DXI GHU ,QQHQZDQGXQJ LQ )OXJULFKWXQJ HQWVWDQGHQ IDOOV GLHVH 5LFKWXQJWDWVlFKOLFKGLH)OXJULFKWXQJZDU %DQVKHHURRPJDEVLFKJURH0KHYHUPRFKWHDEHUQLFKW]XHUNHQQHQREVLFK GLH7LHIHQVSKlUHLQGLHDQJHQRPPHQH5LFKWXQJEHZHJWH6LHJODXEWHOHGLJOLFK GDV DXV GHQ VFKQHOO ZHFKVHOQGHQ +RORELOGHUQ XQG 6\PEROHQ HQWQHKPHQ ]X N|QQHQ DXI GLH $VVXU+DWRQ VWDUUWH $QVFKHLQHQG PXWH PDQ GHU %HDXIWUDJWH HLQHV .RVPRNUDWHQ VHLQ XP HLQH 7LHIHQVSKlUH VWHXHUQ ]X N|QQHQ 9LHOOHLFKW ZDUGDVGHU*UXQGZDUXPGLH.RVPRNUDWHQ$PXQ6LWDLQXUGLH3$51$;(]XU 9HUIJXQJJHVWHOOWKDWWHQ ³:DVLVWXQVHU=LHO"IUDJWHVLHQDFKHLQLJHU=HLW ³(LQEHVWLPPWHU0DWHULHVWUDKOGHUDXVGHU4XHOOHGXUFKHLQVRJHQDQQWHV:KLWH +ROH LQV QRUPDOH 8QLYHUVXP EOlVW XQG GRUW ]X 0DVVH NRQGHQVLHUW DQWZRUWHWH $VVXU+DWRQJHLVWHVDEZHVHQG ³(LQHHUUHJHQGH9RUVWHOOXQJJDE%DQVKHHURRP]X³'RFKHLJHQWOLFKZROOWHLFK ZLVVHQZHOFKH$XIJDEHZLUHUIOOHQVROOHQ ³,FK ZXUGH EHDXIWUDJW LQ HLQHP 5DXPVHNWRU QDFK GHP 5HFKWHQ ]X VHKHQ LQ GHP HWZDV VHLQ 8QZHVHQ WUHLEW GDV YRQ HLQHP HQWDUWHWHQ $EOHJHU GHU 7LHIH JHERUHQZXUGHWHLOWH$VVXU+DWRQLKUPLW³(VVLQGGRUW'LQJHJHVFKHKHQGLH

YHUPXWHQODVVHQGDGLH-lJHUXPJHKHQXQG%HXWHPDFKHQ 'LH -lJHU UDXQWH HLQ *HGDQNHQHFKR LQ %DQVKHHURRPV %HZXWVHLQ XQG VLH YHUVSUWHHLQH$UW5XPRUHQLQLKUHQYHUVFKWWHWHQ(ULQQHUXQJHQIUFKWHWHVLFK SO|W]OLFKGHQQVLHDKQWHGDGLH-lJHULKULUJHQGZDQQHWZDVJHUDXEWKDWWHQZDV LKUOLHEXQGWHXHUJHZHVHQZDU ³:LHVHKHQGLH-lJHUDXVGLHGXPHLQVW"IUDJWHVLHEHNORPPHQ ³1LHPDQGKDWVLHMHJHVHKHQHUZLGHUWH$VVXU+DWRQ³-HGHQIDOOVQLHPDQGGHU GDUEHUEHULFKWHQN|QQWH,FKZXUGHQXUGDUEHULQIRUPLHUWGDLQGHU)LQVWHUQLV GHV HQWDUWHWHQ $EOHJHUV LUJHQG HWZDV DXI -DJG JHKW XQG GDV GDQQ ZHQQ GLH )LQVWHUQLV OlQJHU DOV HLQ SDDU 0LQXWHQ PDQLIHVW EOHLEW *HJHQVWlQGH XQG /HEHZHVHQ VSXUORV YHUVFKZLQGHQ XQG GD PDQ HV LQ GHU 'XQNHOKHLW VFKDEHQ XQGUDVFKHOQNQLUVFKHQXQGVFKQDXIHQK|UW %DQVKHHURRP]ZDQJVLFK]XHLQHPVS|WWLVFKHQ/DFKHQ ³'DV NOLQJW MD DOV RE ZLOGH 7LHUH GXUFK HLQHQ 'VFKXQJHO VFKOHLFKHQ PHLQWH VLH ³'LH )LQVWHUQLV HQWVWDPPW GHU =HLW GD GDV 8QLYHUVXP MXQJ XQG ZLOG XQG ]JHOORVZDUHUNOlUWH$VVXU+DWRQPLWHLQGULQJOLFKHP(UQVW³(VZDUHLQH=HLW GHU *UHQ]HQORVLJNHLW GHV NRVPLVFKHQ :LOGQLV LQ GHU 'LQJH P|JOLFK ZDUHQ JHJHQGLHGLHLP'VFKXQJHOGURKHQGHQ*HIDKUHQVRKDUPORVVLQGZLHHLQPLOGHU 6RPPHUUHJHQ 'DUDXI HUZLGHUWH %DQVKHHURRP QLFKWV GHQQ VLH VFKlPWH VLFK LKUHV QDLYHQ 6SRWWVEHZLHVHUGRFKZLHGXPPVLHZDUGDVLHDXFKQXUHLQHQ0RPHQWKDWWH GHQNHQ N|QQHQ GLH .RVPRNUDWHQ ZUGHQ VLFK XP 'LQJH NPPHUQ GLH QLFKW PLQGHVWHQV HLQH VFKZHUZLHJHQGH 6W|UXQJ GHU NRVPLVFKHQ (YROXWLRQ EHZLUNHQ NRQQWHQ ³%LVWGXEHUHLW"IUDJWH$VVXU+DWRQ -DLFKELQEUHLWDQWZRUWHWH%DQVKHHURRPEHGUFNW 9LHOHWDXVHQG-DKUHZDUHQZLHHLQ7DJ %DQVKHHURRP GDFKWH HV QLFKW ]XP HUVWHQPDO ² XQG VLH ZXWH GD VLH LUJHQGZDQQ HLQPDO GLH VFKLFNVDOKDIWH %HGHXWXQJ GLHVHV *HGDQNHQV NHQQHQJHOHUQWKDWWH 8QGLUJHQGZDQQVRZXWHVLHZUGHVLHVLFKGDUDQHULQQHUQXQGGDQQZUGH VLHZLVVHQZHUVLHZLUNOLFKZDU 6LH EHVFKlIWLJWH VLFK PLW VROFKHQ XQG lKQOLFKHQ hEHUOHJXQJHQ ZlKUHQG GLH 7LHIHQVSKlUH VLH XQG GHQ %HDXIWUDJWHQ GHV .RVPRNUDWHQ +RUWDFK DXI YHUVFKOXQJHQHQ 3IDGHQ GXUFK HLQHQ 7HLO GHV 6XSHU%ODFN+ROHV WUXJ GDV GDV 8QLYHUVXPLQVLFKEDUJ 1DFK XQG QDFK OHUQWH VLH GLH +RORELOGHU XQG 6\PEROH GLH EHU GLH ,QQHQZDQGXQJ GHU 6SKlUH KXVFKWHQ VRZHLW ]X GHXWHQ GD VLH VLFK HLQH XQJHIlKUH9RUVWHOOXQJYRQGHU8PJHEXQJXQGGHQ%HZHJXQJHQGLHVHV*HIlKUWV PDFKHQ NRQQWH 6LH EHJULII DQQlKHUQG GD GLH 6SKlUH VLFK ]X LKUHU )RUWEHZHJXQJ ]DKOORVH .UDIWIHOGSROH LQQHUKDOE GHU 'XQNHOKHLW ]XQXW]H PDFKWH XQGVLFKGDGXUFKVFKQHOOHUXQGEHUJU|HUH'LVWDQ]HQEHZHJHQNRQQWHDOVHV IUGLHOHLVWXQJVIlKLJVWH'DNNDUUDXP3ODWWIRUPMHPDOVHUUHLFKEDUZDU

'RFKZLHODQJH$VVXU+DWRQXQGVLHZLUNOLFKXQWHUZHJVJHZHVHQZDUHQDOVGLH 6SKlUH YRQ HLQHP XQJHKHXHUOLFKHQ 6RJ HUIDW XQG LQ HLQH $UW (QHUJLHVWUXGHO JHULVVHQZXUGHKlWWH%DQVKHHURRPQLFKWVDJHQN|QQHQ 6LHVFKULHHUVFKURFNHQDXIDOVGLHEOXWURWHQ)ODPPHQGLHELVKHUGLH2EHUIOlFKH GHU7LHIHQVSKlUHXP]QJHOWKDWWHQ]XORGHUQGHQ)DFNHOQYRQGHUYHU]HKUHQGHQ *OXWYRQ6RQQHQHUXSWLRQHQZXUGHQLQGHQHQGDVNOHLQH)DKU]HXJ]XYHUEUHQQHQ GURKWH 6WDWWGHVVHQVFKXIHQGLH(UXSWLRQHQHLQH6WLOOH=RQHULQJVXPGLH6SKlUHLQGHP VLH HLQHQ HLJHQHQ (QHUJLHVWUXGHO IRUPWHQ GHVVHQ 5RWDWLRQ GHU 5RWDWLRQ GHV XPJHEHQGHQ(QHUJLHVWUXGHOVHQWJHJHQJHVHW]WZDU $XIGLHVH:HLVHHQWJLQJGLH7LHIHQVSKlUHGHU9HUGLFKWXQJXQG8PZDQGOXQJLQ XOWUDKRFKIUHTXHQWH +\SHUHQHUJLH GHU DOOH DQGHUH LQ GHQ 6WUXGHO JHULVVHQH 0DWHULHDXVJHVHW]WZDU6LHEOLHELP$JJUHJDW]XVWDQGGHU0DVVH 6LHEOLHEHVDXFKGDQQQRFKDOVGLH6SKlUH]XVDPPHQPLWGHUVLHXPJHEHQGHQ XOWUDKRFKIUHTXHQWHQ +\SHUHQHUJLH LQ HLQH JLJDQWLVFKH %DOOXQJ DXV VR XQHUK|UW JUHOOHP ZHLHQ /HXFKWHQ JHVFKOHXGHUW ZXUGH GD GDV )DKU]HXJ VLFK LQ HLQHQ WUDQVSDUHQWHQ.|USHUYHUZDQGHOWHYRQGHP%DQVKHHURRPV$XJHQQXUQRFKGDV GXQNOHUH 1HW] GHU 6NHOHWWH DXV 9HUVWUHEXQJHQ ]X VHKHQ YHUPRFKWHQ EHYRU VLH LQIROJHGHU%OHQGXQJYHUVDJWHQ $VVXU+DWRQ UHGHWH EHUXKLJHQG DXI VLH HLQ VRQVW KlWWH VLH YLHOOHLFKW GHQ 9HUVWDQG YHUORUHQ (U HUNOlUWH GD VLH HLQH =RQH GXUFKTXHUWHQ LQ GHU GLH XOWUDKRFKIUHTXHQWH+\SHUHQHUJLHGHV0DWHULHVWUDKOVVFKODJDUWLJH[SDQGLHUWHXQG GDEHL HLQH VR JHZDOWLJH 0HQJH YRQ /LFKW XQG 5DGLRVWUDKOXQJ YRQ VLFK VFKOHXGHUWH GD GLH $VWURQRPHQ GHU PHLVWHQ KRFKHQWZLFNHOWHQ =LYLOLVDWLRQHQ QRFKLPPHUEHUGLHZDKUH1DWXUGLHVHU(UVFKHLQXQJHQUlWVHOWHQ (U HUNOlUWH DXHUGHP GD VHLQH 7LHIHQVSKlUH VLFK DXWRPDWLVFK LQ GHQ MHWlKQOLFKHQ 0DWHULHVWUDKO HLQIlGHOWH GHU YRQ GLHVHU ([SDQVLRQV]RQH DXVJLQJ XQG YRQ GHU )HUQH EHREDFKWHW +XQGHUWH YRQ /LFKWMDKUHQ ODQJ ZDU LQ :LUNOLFKNHLW DEHU VHLQHP UHODWLY GQQHQ ,QWHUQVWUDKO DXV JHULFKWHWHU XOWUDKRFKIUHTXHQWHU+\SHUHQHUJLH0LOOLDUGHQ/LFKWMDKUHZHLW]HLWYHUOXVWIUHLXQG SXQNWJHQDXLQV=HQWUXPGHVNXJHOI|UPLJHQ8QLYHUVXPVKLQHLQVFKR 'RUW H[SDQGLHUWH HU GDQQ HEHQIDOOV XQG EHVFKLFNWH GDV 8QLYHUVXP YRQ LQQHQ KHUDXV PLW HLQHP NRQWLQXLHUOLFKHQ 1DFKVFKXE YRQ 0DWHULH GLH ]X 0DVVH ³NRQGHQVLHUWH XQG GDIU VRUJWH GD GLH PLWWOHUH 0DWHULHGLFKWH GHV H[SDQGLHUHQGHQ8QLYHUVXPVLP/DXIGHU=HLWHQLPPHUGLHJOHLFKHEOLHE 'LHVH 9RUJlQJH ZDUHQ DEHU DXFK HLQH GHU 8UVDFKHQ GD VLFK LP H[DNWHQ =HQWUXPGHV8QLYHUVXPVHLQH*HVHW]ORVH5HJLRQJHELOGHWKDWWHXQGEHUbRQHQ KLQZHJVWDELOJHEOLHEHQZDU'RUWZXUGHGHU0RUDOLVFKH.RGHGHV8QLYHUVXPV DEVROXW QHJLHUW ² XQG GRUW VFKOLHI DXFK GHU HQWDUWHWH $EOHJHU GHU 7LHIH GHU PDQFKPDO MHQH DJJUHVVLYHQ .UHDWXUHQ JHEDU GLH VLFK MHGH $QRPDOLWlW GHV 8QLYHUVXPV ]XQXW]H PDFKWHQ XP IHUQ GHV =HQWUXPV 5HJLRQHQ GHU )LQVWHUQLV XQGGHV6FKUHFNHQV]XVFKDIIHQLQGHQHQGLH-lJHUXPJLQJHQ ³'X GDUIVW PLFK QLFKW IU QDLY KDOWHQ ZHLO LFK PLFK QDLY DXVGUFNH %DQVKHHURRP PDKQWH $VVXU+DWRQ PLW OHLVHP 6SRWW ³,FK VSUHFKH EHU

3KlQRPHQHGLHQXUYRQGHQ.RVPRNUDWHQLQLKUHP:HVHQYHUVWDQGHQZHUGHQ ,FK DOV %HDXIWUDJWHU HLQHV .RVPRNUDWHQ YHUPDJ QLFKW JDQ] VR DEVWUDNW ]X GHQNHQDEHULFKHUDKQHZHQLJVWHQVGDV:HVHQKLQWHUGHQ(UVFKHLQXQJHQ'XDOV 3URGXNW HLQHU %LRORJLH GLH EOLQGOLQJV PLW GHQ ,QVWUXPHQWHQ GHU (YROXWLRQ KHUXPVSLHOW ZUGHVW NHLQ :RUW YRQ GHP YHUVWHKHQ ZDV LFK GLU LQ PHLQHU DEVWUDNWHQ$XVGXFNVZHLVHVDJHQN|QQWH'HVKDOEEHGLHQHLFKPLFKGHUELOGKDIW YHUHLQIDFKWHQ$XVGUXFNVZHLVH %DQVKHHURRPKlWWHVLFKYRU6FKDPDPOLHEVWHQLQGHQ%RGHQYHUNURFKHQGHQQ $VVXU+DWRQKDWWHJHQDXGHQ.HUQSXQNWLKUHUhEHUOHJXQJHQJHWURIIHQ 1LFKW HU GDFKWH QDLY VRQGHUQ VLH ² XQG HU ZDU QXU DXI LKUH QDLYH 6WXIH GHV %HJUHLIHQVKHUDEJHVWLHJHQGDPLWVLHVLFKZHQLJVWHQVHLQHELOGOLFKH9RUVWHOOXQJ YRQ3KlQRPHQHQPDFKHQNRQQWHGLHVLHQLHPDOVZLUNOLFKYHUVWHKHQZUGH ³'X EUDXFKVW GLFK QLFKW ]X VFKlPHQ WU|VWHWH GHU %HDXIWUDJWH +RUWDFKV VLH LQ YHUV|KQOLFKHP 7RQIDOO ³(V ZDU GXPP YRQ PLU GLFK GDIU ]X UJHQ GD LFK PLFK GLU QLFKW YHUVWlQGOLFK PDFKHQ NRQQWH RKQH 0HWDSKUDVHQ ]X JHEUDXFKHQ )U PLFK LVW HV VHKU VFKZHU PLFK DXI HLQ VR WLHIHV 1LYHDX GHV 'HQNHQV ]X YHUVHW]HQGDLFKGDEHLXQZHLJHUOLFK)HKOHUPDFKH(QWVFKXOGLJHELWWH 'LHVPDOZDU%DQVKHHURRPYHUOHJHQ 'HU%HDXIWUDJWHHLQHV.RVPRNUDWHQHQWVFKXOGLJWHVLFKEHLLKUZHLOHUVLFKQLFKW LQ LKUH SULPLWLYH 9RUVWHOOXQJVZHOW YHUVHW]HQ NRQQWH 8QG VLH KDWWH ELVKHU JHJODXEW HLQHQ QLFKW XQHUKHEOLFKHQ (UNHQQWQLVJUDG EHU GDV :HVHQ XQG )XQNWLRQLHUHQGHV8QLYHUVXPVHUZRUEHQ]XKDEHQ ,Q:LUNOLFKNHLWZXWHVLHQLFKWV ³,FK KDEH PLFK VFKRQ ZLHGHU IDOVFK DXVJHGUFNW %DQVKHHURRP EHPHUNWH $VVXU+DWRQ UHVLJQLHUHQG ³(V JLEW ZHGHU 'LQJH QRFK /HEHZHVHQ GLH QLFKWV ZWHQ $OOH 0DWHULH VWHFNW YROOHU :LVVHQ (V LVW VHLW $QEHJLQQ LQ MHGHP (OHNWURQHQWKDOWHQ1XUZLUGHVHUVWPLWIRUWVFKUHLWHQGHU(YROXWLRQEHZXWGHQQ YRUKHUZlUHHVMDQXW]ORV9HUVWHKVWGXZDVLFKPHLQH" ³,FKGHQNHMDHUZLGHUWH%DQVKHHURRPNOHLQODXW ³:LUXPIOLHJHQMHW]WGLH*HVHW]ORVH5HJLRQZHFKVHOWH$VVXU+DWRQVRDEUXSW GDV 7KHPD GD %DQVKHHURRP ]XHUVW LUULWLHUW ZDU ³'D ]ZLVFKHQ GHP VFKODIHQGHQ $EOHJHU GHU 7LHIH XQG VHLQHQ *HVFK|SIHQ HLQH SHUPDQHQWH 5FNNRSSOXQJ EHVWHKW ZLUG GLH 7LHIHQVSKlUH EDOG ZLVVHQ LQ ZHOFKHP 5DXPVHNWRU GLH -lJHU XPJHKHQ XQG GDV ZLUG GDQQ GHU $QIDQJ YRP (QGH GLHVHU.UHDWXUHQVHLQ ³%LV GHU HQWDUWHWH $EOHJHU GHU 7LHIH GDV QlFKVWH *HVFK|SI JHElUW HUJlQ]WH %DQVKHHURRP ³'DV LVW ULFKWLJ VDJWH $VVXU+DWRQ UHVSHNWYROO ³,FK GDUI GLFK QLFKW XQWHUVFKlW]HQVRQVWVWLFKVWGXPLFKQRFKEHLPHLQHP.RVPRNUDWHQDXV ³6SRWWHQXUJDE%DQVKHHURRPEHUPWLJ]XUFN³6REDOGLFKHUVWPHLQHZDKUH ,GHQWLWlWNHQQHZLUVWGXGLFKZXQGHUQ ³'DVZlUHP|JOLFKVDJWH$VVXU+DWRQHUQVWKDIWXQGPXVWHUWHNRQ]HQWULHUWHLQH $QVDPPOXQJ IODFNHUQGHU 6\PEROH DXI GHU,QQHQZDQGXQJVHLQHU6SKlUH³:DV EHGHXWHWGHQQGDV"(LQHZLQ]LJHSXOVLHUHQGH%DOOXQJDXV6H[WDGLPHQHUJLHGLH

YRQ GUDXHQ NRPPW XQG DQVFKHLQHQG DXI GHU 6XFKH QDFK HWZDV LVW 0HUNZUGLJ %DQVKHHURRPZDJWHQLFKWHWZDV]XVDJHQGDVLHZXWHGDHVQXUIDOVFKRGHU EHUIOVVLJVHLQNRQQWHRGHUEHLGHV ³1HLQ NHLQH JHZ|KQOLFKH 6H[WDGLPHQHUJLH VWHOOWH $VVXU+DWRQ QDFK HLQLJHU =HLW IHVW ³(V KDQGHOW VLFK XP HLQHQ ,UUOlXIHU DXV UHLQHU +\SHUVH[WD 0RGXOSDUVWUDKOXQJ 1RUPDOHUZHLVH ZUGH LFK VDJHQ ZLU KlWWHQ HV PLW GHQ hEHUUHVWHQ HLQHU h%6().RQVWDQWH ]X WXQ DOVR PLW GHQ ]XVDPPHQJHEDOOWHQ )UDJPHQWHQHLQHV%HZXWVHLQVGDVJU|WHQWHLOVYHUZHKWLVW ³1RUPDOHUZHLVH" HFKRWH %DQVKHHURRPPLW GXQNOHU 9RUDKQXQJ ³$EHU HV LVW QLFKWQRUPDOHUZHLVHRGHU" ³1LFKW KLHU EHVWlWLJWH $VVXU+DWRQ ³h%6().RQVWDQWHQ RGHU LKUH hEHUUHVWH YHUIOFKWLJHQ VLFK QLFKW YRQ DXHQ QDFK LQQHQ VRQGHUQ QXU YRQ LQQHQ QDFK DXHQ²HVVHLGHQQVLHZlUHQ]XVlW]OLFKPLWHWZDVDXIJHODGHQZDVPLWGHP VFKODIHQGHQ$EOHJHULP=HQWUXPGHV8QLYHUVXPVYHUZDQGWLVW ³+\SHUVH[WD0RGXOSDUVWUDKOXQJULHI%DQVKHHURRPXQGHULQQHUWHVLFKSO|W]OLFK GDUDQGDVLHIUKHUHLQXPIDQJUHLFKHV:LVVHQGDUEHUEHVHVVHQKDWWH³:HQQ HV QLFKW GLH YROOVWlQGLJH +\SHUVH[WD0RGXOSDUVWUDKOXQJ HLQHV %HZXWVHLQV LVW VRQGHUQQXUHLQ5HVWGDQQN|QQWHVLHQLFKW]XVDPPHQJHEDOOWVHLQVRQGHUQZlUH OlQJVWYHUZHKW(VVHLGHQQGDVVWHUEHQGH:HVHQGHPGLHHKHPDOVYROOVWlQGLJH +\SHUVH[WD0RGXOSDUVWUDKOXQJJHK|UWHKlWWHPLWHLQHUNDXPYRUVWHOOEDUVWDUNHQ :LOOHQVDQVWUHQJXQJGLH=XVDPPHQEDOOXQJGHU)UDJPHQWHEHZLUNW ³0LW NDXP YRUVWHOOEDUHU VWDUNHU :LOOHQVDQVWUHQJXQJ XQG PLW SVLRQLVFKHQ .UlIWHQHUJlQ]WH$VVXU+DWRQ ³8QG PLW GHU $EVLFKW GD MHPDQG GLH %DOOXQJ DXIILVFKW XQG HLQH LQ LKU HQWKDOWHQH%RWVFKDIWOLHVWILHO%DQVKHHURRPVFKQHOOHLQ ³'DV N|QQWH GDQQ DEHU QXU LQ HLQHP $NW SXUHU 9HU]ZHLIOXQJ JHVFKHKHQ VHLQ PHLQWH GHU %HDXIWUDJWH +RUWDFKV GD]X ³'LHVH $UW YRQ %DOOXQJ NDQQ QlPOLFK QLHPDQG DXIILVFKHQ DXHU HLQHU 7LHIHQVSKlUH XQG GLH VLQG LP QRUPDOHQ 8QLYHUVXPVRKlXILJZLH0DWHULHVHQNHQ ³'DQQ OD VLH DXIILVFKHQ $VVXU+DWRQ VFKULH %DQVKHHURRP DOV JLQJH HV XP LKU/HEHQ³:RUDXIZDUWHVWGXQRFK" $VVXU+DWRQVDKVLHPHUNZUGLJDQGDQQOlFKHOWHHUEHJWLJHQGXQGHUNOlUWH ³6HOEVWYHUVWlQGOLFK KDW GLH 6SKlUH VLH LQ]ZLVFKHQ DXIJHILVFKW 6LH LVW VFKRQ GDEHL DXV GHQ )UDJPHQWHQ GHU +\SHUVH[WD0RGXOSDUVWUDKOXQJ GLH %RWVFKDIW KHUDXV]XILOWHUQGLHLQLKQHQHQWKDOWHQLVW2EZLUVLHDOOHUGLQJVMHPDOVYHUVWHKHQ ZHUGHQLVWHLQHJDQ]DQGHUH6DFKH /LFKWVFKDXHU LQ DOOHQ )DUEHQ GHV XQLYHUVHOOHQ 6SHNWUXPV KXVFKWHQ EHU GLH ,QQHQZDQGXQJGHU7LHIHQVSKlUHGDQQELOGHWHQVLFKQHXH6\PEROH ³6FKDGHEHGDXHUWH$VVXU+DWRQ³(VKDQGHOWVLFKXPHLQHPHQWDOH%RWVFKDIW GLH GHUPDHQ YRQ (PRWLRQHQ EHUODJHUW XQG GXUFKVHW]W LVW GD GHU ZLUNOLFKH ,QIRUPDWLRQVJHKDOW XQYHUVWlQGOLFK EOHLEHQ PX (LQH +RFKUDQJ.RGLHUXQJ N|QQWHQLFKWZLUNVDPHUVHLQ %DQVKHHURRPIKOWHGHSULPLHUHQGH(QWWlXVFKXQJ

6LH KDWWH GLH ,QWXLWLRQ JHKDEW GLH %RWVFKDIW N|QQWH LKU SHUV|QOLFK HWZDV EHGHXWHQXQGLKUGDEHLKHOIHQLKUHZDKUH,GHQWLWlWZLHGHU]XILQGHQ$EHUZHQQ GLH%RWVFKDIWXQYHUVWlQGOLFKEOLHEZDUGLH+RIIQXQJYHUJHEHQVJHZHVHQ 6LHSUHWHLKUH+DQGIOlFKHQJHJHQGLH6FKOlIHQXQGVW|KQWHZHLOVLHGDV*HIKO KDWWH GHQ 9HUVWDQG ]X YHUOLHUHQ ,KU %HZXWVHLQ VFKLHQ VLFK XQWHU GHP 'UXFN GHU(QWWlXVFKXQJ]XVSDOWHQ (LQ7HLOYRQLKPYHUILHOGHP:DKQHLQHDQGHUH3HUV|QOLFKNHLW]XVHLQ .D]]HQNDWW *OHLFK HLQHP %OLW] IXKU GLH (UNHQQWQLV GXUFK LKUHQ *HLVW GD VLH NHLQHVZHJV XQWHUHLQHU3V\FKRVHPLW9HUOXVWGHV6WUXNWXU]XVDPPHQKDOWVGHU3HUV|QOLFKNHLW XQG PLW GHU 6SDOWXQJ YRQ 'HQNHQ $IIHNW XQG (UOHEHQ OLWW VRQGHUQ GD LKU %HZXWVHLQ VLFK DEUXSW VR ZHLW JH|IIQHW KDWWH DOV HV GLH h%6().RQVWDQWH HLQHV )UHPGZHVHQV DQJHSHLOW XQG GLH )UDJPHQWH GLHVHU DQGHUHQ 3HUV|QOLFKNHLW PLWHLQHU)lKLJNHLWEHUODJHUWKDWWHGLHQLFKW]X%DQVKHHURRPJHK|UWH 6RQGHUQ]XMHQHU:HVHQKHLWGLHVLFKKLQWHUGHUYRQ%DQVKHHURRPYHUEDUJ 'LH)lKLJNHLWGHU3HGRWUDQVIHULHUXQJ %DQVKHHURRPV*HGDQNHQ]HUILHOHQ]XHLQHPXQJHRUGQHWHQ3X]]OH6LH³NDP]X VLFK XQG PHUNWH GD $VVXU+DWRQ VLH DQ GHQ 6FKXOWHUQ JHSDFNW KDWWH XQG VR NUlIWLJVFKWWHOWHGDVLHGDV*HIKOKDWWHLKUH+DOVZLUEHOZUGHQEUHFKHQ ³$XIK|UHQIOVWHUWHVLH $XJHQEOLFNOLFKK|UWH$VVXQ+DWRQDXI ³:DVZDUQXUPLWGLUORV"IUDJWHHUEHVRUJW³'XKDVWJHVFKULHQDOVKlWWHVWGX GHQ9HUVWDQGYHUORUHQ8QGLPPHUZLHGHUVFKULHVWGXHLQ:RUW.D]]HQNDWW,FK IUFKWHWHGXZlUVWVFKL]RSKUHQJHZRUGHQ 6LHVFKWWHOWHGHQ.RSI ³,FK OLWW QLFKW DQ %HZXWVHLQVVSDOWXQJ VRQGHUQ KDWWH HLQH 3HGRWUDQVIHULHUXQJ GXUFKJHIKUW VDJWH VLH WRQORV ³(LQH 3HGRWUDQVIHULHUXQJ DXI GLH ]XVDPPHQJHEDOOWHQ )UDJPHQWH GHV %HZXWVHLQV GLH LQ GHU DXIJHILVFKWHQ +\SHUVH[WD0RGXOSDUVWUDKOXQJHQWKDOWHQVLQG ³(LQH 3HGRWUDQVIHUHULQ VWHOOWH $VVXU+DWRQ EHUUDVFKW IHVW ³'X EHKHUUVFKVW QLFKW QXU GHQ =HURWUDXP VRQGHUQ DXFK GLH 3HGRWUDQVIHULHUXQJ ,FK ZXWH JDU QLFKWGDHVGLHVH'RSSHOEHJDEXQJJLEW ³,FKDXFKQLFKWHUZLGHUWH%DQVKHHURRP³6SULFKMHW]WQLFKWPHKUPLWPLU,FK PX GLH 3HGRWUDQVIHULHUXQJ ZLHGHUKROHQ GHQQ LFK NDP YRUKLQ QLFKW GD]X GHQ %HZXWVHLQVLQKDOWYRQ.D]]HQNDWWXQGGDPLWGLH%RWVFKDIW]XHUIDVVHQZHLOGX PLFKVW|UWHVW ³,FK ODVVH GLFK LQ 5XKH YHUVSUDFK $VVXU+DWRQ ³hEHUQLPP MHW]W (V VFKHLQW ZLFKWLJIUGLFK]XVHLQ $EHUGDVK|UWH%DQVKHHURRPVFKRQQLFKWPHKU 6LHKDWWHGLHIUHPGHQ%HZXWVHLQVIUDJPHQWHEHUHLWVEHUQRPPHQZDVGLHVPDO JDQ]OHLFKWJLQJGDVLHVFKRQHLQPDO³GRUWJHZHVHQZDU ,KU HUVWHU (LQGUXFN GD GLH %HZXWVHLQVIUDJPHQWH YRQ HLQHP :HVHQ QDPHQV .D]]HQNDWW VWDPPWHQ EHVWlWLJWH VLFK 'RFK GLH DQGHUHQ ,QIRUPDWLRQHQ GLH LQ GHQ %HZXWVHLQVIUDJPHQWHQ VWHFNWHQ ZDUHQ VFKZHUHU ]X HUNHQQHQ GHQQ VLH

ZDUHQYRQ3DQLNGXUFKGUXQJHQXQGDXHUGHPXQYROOVWlQGLJ2IIHQEDUKDWWHGLH %DOOXQJ DXV +\SHUVH[WD0RGXOSDUVWUDKOXQJ DXI LKUHP :HJ GXUFK GDV 1LFKWV YLHOYRQLKUHUXUVSUQJOLFKHQ³6XEVWDQ]HLQJHEW %DQVKHHURRP OLH MHGRFK QLFKW ORFNHU 6LH VFKUHFNWH DXFK QLFKW PHKU YRU GHQ PHQWDOHQ 9HU]ZHLIOXQJVVFKUHLHQ ]XUFN GLH YRQ GHQ )UDJPHQWHQ DXVJLQJHQ GHQQ VLH HUNDQQWH GD GLH 3HUV|QOLFKNHLW .D]]HQNDWWV VLFK LQ HLQHP XQDXIKDOWVDPHQ3UR]HGHU$XIO|VXQJEHIDQGVRGDHVK|FKVWHQVHLQ$NWGHU *QDGHZDUZHQQLKU=XJULIIGLHVHQ3UR]HEHVFKOHXQLJWH :DVVLHHUIXKUZDUHQQXUEUXFKVWFNKDIWH,QIRUPDWLRQHQDEHUHVJHQJWHXP VLHPLW*UDXHQ]XHUIOOHQ 'HPQDFK ZDU GDV :HVHQ QDPHQV .D]]HQNDWW HLQ 6DUOHQJRUW XQG HLQ =HURWUlXPHUJHZHVHQGHUVLFKYRQHLQHUPlFKWLJHQ:HVHQKHLWGHP+HUUQGHU 1HJDVSKlUHGXUFK'URKXQJHQXQG9HUVSUHFKXQJHQGD]XKDWWHYHUOHLWHQODVVHQ DOV (OHPHQW GHU /HQNXQJ GHQ 'HNDORJ GHU (OHPHQWH LQ GHQ .DPSI JHJHQ GLH .UlIWHGHU2UGQXQJ]XIKUHQZRLPPHUVLHVLFKPDQLIHVWLHUWHQ .D]]HQNDWWXQGVHLQH+HHUVFKDUHQKDWWHQJHJHQGLH3DWURXLOOHQYRQ:L QJHJHQ GLH*HQHWLVFKH$OOLDQ]GLH%HZRKQHUGHULVROLHUWHQ5HJLRQHQXQG]XOHW]WJHJHQ GLH*DOD[LV0LOFKVWUDHJHNlPSIW $XV GHQ HPRWLRQHOOHQ )OXWHQ GLH DXV .D]]HQNDWWV %HZXWVHLQVIUDJPHQWHQ LPPHU ZLHGHU KHUYRUEUDFKHQ HUVDK %DQVKHHURRP GD GHU =HURWUlXPHU VHLQH 7DWHQEHUHXWHZHLOLKPNODUJHZRUGHQZDUGDGDGXUFKSRVLWLYH(QWZLFNOXQJHQ LQQHJDWLYHXPJHNHKUWZRUGHQZDUHQ 'LH .HWWH GHU 6LHJH KDWWH DOOHUGLQJV LQ GHU *DOD[LV 0LOFKVWUDH HLQ MlKHV (QGH JHIXQGHQGHQQGRUWKDWWHQVLFKQLFKWQXUGLHHLQJHERUHQHQ=LYLOLVDWLRQHQJHJHQ GHQ 'HNDORJ GHU (OHPHQWH JHVWHPPW VRQGHUQ ]XVlW]OLFK DXFK GLH (QGORVH $UPDGD 2UGREDQV GDV 9LUHQ,PSHULXP XQG GLH ,QNDUQDWLRQHQ ]ZHLHU .RVPRNUDWHQ 'HQHQWVFKHLGHQGHQ6FKODJDEHUKDWWHLKPDQVFKHLQHQGHLQ:HVHQQDPHQV3HUU\ 5KRGDQ YHUVHW]W LQGHP HV VRJHQDQQWH &KURQRIRVVLOLHQ DNWLYLHUWH XQG VLFK ]XOHW]WDOVGLHVWlUNHUH3HUV|QOLFKNHLWHUZLHVHQKDWWHREZRKO.D]]HQNDWWLKQLQ VHLQHQ=HURWUDXPYHUVFKOHSSWHXQGGDV(OHPHQWGHU)LQVWHUQLV]X+LOIHULHI 3HUU\5KRGDQKDWWHVLFKEHIUHLHQN|QQHQ'DIUKDWWHGDV(OHPHQWGHU)LQVWHUQLV .D]]HQNDWWYHUVFKOXQJHQ =ZHLIHOORV ZDU .D]]HQNDWW WRW $EHU VHLQ /HEHQVZLOOH ZDU VR XQJHKHXHU VWDUN JHZHVHQGDHVLKPXQPLWWHOEDUYRUGHP(QGHJHOXQJHQZDU)UDJPHQWHVHLQHV %HZXWVHLQV LQ HLQHU %DOOXQJ YRQ +\SHUVH[WD0RGXOSDUVWUDKOXQJ ]X NRQVHUYLHUHQ XQG GLHVH %DOOXQJ LUJHQGZLH DXV GHU )LQVWHUQLV KLQDXV]XNDWDSXOWLHUHQ 'RFK REZRKO GLHVH %HZXWVHLQVIUDJPHQWH PLW GHQ PHQWDOHQ 6FKUHLHQ DXIJHODGHQ ZDUHQ LQ GHQHQ .D]]HQNDWW YHUVLFKHUWH HU ZUGH ZLHGHUNRPPHQ PXWH HU JHZXW KDEHQ GD HU VR RGHU VR YHUORUHQ ZDU GHQQ LP .HUQ VHLQHU %RWVFKDIW ZDU GLH GULQJHQGH $XIIRUGHUXQJ DQ GLH (PSIlQJHU HQWKDOWHQ DOOHV DXI]XELHWHQXPGHQ.RVPRNUDWHQPLW]XWHLOHQGDGLH*HQHWLVFKH$OOLDQ]GXUFK GDV:LUNHQGHV+HUUQGHU1HJDVSKlUHDXIHLQHQYHUKlQJQLVYROOHQ:HJJHEUDFKW

ZRUGHQ VHL GHU ]XP (UO|VFKHQ GHU (YROXWLRQ GHV 8QLYHUVXPV IKUHQ ZUGH IDOOVGLH*HQHWLVFKH$OOLDQ]GLH0DFKWPLWWHOGHV=HLWLPSHULXPVDQVLFKUL .D]]HQNDWW EHVFKZRU GLH (PSIlQJHU GHU %RWVFKDIW GLH .RVPRNUDWHQ DQ]XIOHKHQGXUFKGDV6WHUQHQWRU3WDKLQGLH9HUJDQJHQKHLW]XJHKHQGRUWGLH 6WHUQHQVWDGW $YDWDU GLH GHU .HUQ GHU $OOLDQ] JHZHVHQ ZDU DXI]XVXFKHQ XQG GDIU]XVRUJHQGDGLH*HQHWLNHUHUIXKUHQZHUIULKUH1LHGHUODJHJHJHQGHQ 'HNDORJ GHU (OHPHQWH ZLUNOLFK YHUDQWZRUWOLFK ZDU GLH =HURWUlXPHU LQ GHQ ZHLHQ7UPHQGHVYRQGHQ:L QYHUZVWHWHQ3ODQHWHQ6DUOHQJRUW :HQQ HV GHU *HQHWLVFKHQ $OOLDQ] VR GLH %RWVFKDIW JHOlQJH GLH LQ HLQHP GHU 7UPH VFKODIHQGH 6FKZHVWHU .D]]HQNDWWV ]X UDXEHQ XQG VLH GD]X ]X EULQJHQ LKUHQ %UXGHU ]X W|WHQ GDQQ ZUGHQ VLH LKUH HLJHQH 1LHGHUODJH JHJHQ GHQ 'HNDORJ NRPSHQVLHUHQ N|QQHQ XQG LKUH 3OlQH YHUZLUNOLFKHQ RKQH HLQHQ -DKUWDXVHQGNULHJ PLW 8QJHZLVVHP $XVJDQJ JHJHQ GDV =HLWLPSHULXP IKUHQ ]X PVVHQ 8QGLFKZUGHQLFKWYRQGHU)LQVWHUQLVYHUVFKOXQJHQXQGGHQ-lJHUQ]XP)UD YRUJHZRUIHQ KDWWH .D]]HQNDWW QRFK KLQ]XJHIJW EHYRU VHLQH %RWVFKDIW PLW HLQHPOHW]WHQYHU]ZHLIHOWHQ6FKUHLJHHQGHWKDWWH %DQVKHHURRPV %HZXWVHLQ NHKUWH LQ GHQ HLJHQHQ .|USHU ]XUFN DOV GLH 3HUV|QOLFKNHLW .D]]HQNDWWV VLFK HQGJOWLJ DXIO|VWH XQG QLFKWV DOV OHHUH )UDJPHQWH HLQHU QHXWUDOHQ +\SHUVH[WD0RGXOSDUVWUDKOXQJ KLQWHUOLH GLH XQDXIKDOWVDP]HUILHOHQ ³'X]LWWHUVWVDJWH$VVXU+DWRQDOVVLHZLHGHU³EHLVLFKZDU (VZDUZLH6FKWWHOIURVWQXUYLHOVFKOLPPHUGHQQGDV=LWWHUQZXUGHGXUFKGHQ HPRWLRQDOHQ6WXUPDXVJHO|VWGHUGXUFK%DQVKHHURRPWREWH ,KUH *HGDQNHQ ZLUEHOWHQ XQJHRUGQHW GXUFKHLQDQGHU 0HKU DXV HLQHU GXPSIHQ $KQXQJ KHUDXV VHW]WH VLH HLQH )lKLJNHLW HLQ GLH LKU ZLHGHU ]XJHIDOOHQ ZDU DOV VLH LKUH DQGHUH )lKLJNHLW GLH 3HGRWUDQVIHULHUXQJ ZLHGHUJHIXQGHQ KDWWH GLH )lKLJNHLWLKU%HZXWVHLQJHJHQSVLRQLVFKH$EK|UXQJDE]XVFKLUPHQ ³9LHOOHLFKWNDQQLFKGLUKHOIHQZHQQGXGHLQ%HZXWVHLQZLHGHU|IIQHVWVDJWH $VVXU+DWRQ³2GHUYHUWUDXVWGXPLUQLFKWPHKU 1DWUOLFK YHUWUDXH LFK GLU GHQQ GX ELVW GHU %HDXIWUDJWH HLQHV .RVPRNUDWHQ GDFKWH %DQVKHHURRP $EHU LFK ZLOO .D]]HQNDWWV 9HUPlFKWQLV HUIOOHQ XQG EUDXFKH GD]X GHLQH XQHLQJHVFKUlQNWH +LOIH ² XQG GLH JHZlKUVW GX PLU ZRP|JOLFKQLFKWZHQQLFKGLUGLH.HUQPRWLYDWLRQ.D]]HQNDWWVSUHLVJlEHQLFKW YRQ GHU )LQVWHUQLV YHUVFKOXQJHQ XQG QLFKW YRQ GHQ -lJHUQ JHW|WHW ]X ZHUGHQ VRQGHUQGHQ7RGGXUFKGLH+DQGVHLQHU6FKZHVWHU]XHUOHLGHQ ³0HLQ%HZXWVHLQJHK|UWPLU²XQGPLUDOOHLQVDJWHVLHKHIWLJDOVGDV=LWWHUQ DEJHNOXQJHQZDU 'DQDFKEHULFKWHWHVLHLKPYRQ.D]]HQNDWWV%RWVFKDIWZDV]XEHULFKWHQVLHIU DQJHPHVVHQKLHOWQLFKWPHKUXQGQLFKWZHQLJHU 'DEHLHUJULIIVLHVRVHKU3DUWHLIUGHQWRWHQ6DUOHQJRUWGDVLHVLFKLQVJHKHLP IUDJWHRE]ZLVFKHQ.D]]HQNDWWXQGLKUHLQHJHLVWLJH9HUZDQGWVFKDIWEHVWQGH GLHLKUNHLQHDQGHUH:DKOOLHDOVVLFKPLWVHLQHQ=LHOHQ]XLGHQWLIL]LHUHQ $VVXU+DWRQK|UWHLKU]XRKQHVLHHLQHLQ]LJHV0DO]XXQWHUEUHFKHQ

'DQDFKHUNOlUWHHU ³'LH%DOOXQJGHU)UDJPHQWHYRQ.D]]HQNDWWVh%6().RQVWDQWHNDPYLHOOHLFKW GRFK QLFKW YRQ DXHQ VRQGHUQ YRQ LQQHQ DXV GHU 6FKODIHQGHQ )LQVWHUQLV LP 6FKRGHU*HVHW]ORVHQ5HJLRQGHQQQXUYRQLKUN|QQWHHLQHSVLRQLVFKVRVWDUN EHJDEWH3HUV|QOLFKNHLWZLH.D]]HQNDWWEHVLHJWZHUGHQ ³:LUVWGXWXQZRUXPHUJHIOHKWKDW"IUDJWH%DQVKHHURRPHLQGULQJOLFK ³$XIMHGHQ)DOOZHUGHLFKGXUFKGDV6WHUQHQWRU3WDKLQGLH9HUJDQJHQKHLWJHKHQ XQG PLFK LQ GHU 6WHUQHQVWDGW $YDWDU XPVHKHQ DQWZRUWHWH $VVXU+DWRQ ³'DQDFK HUVW ZHUGH LFK HQWVFKHLGHQ RE LFK GLH *HQHWLNHU VR PRWLYLHUH ZLH .D]]HQNDWWHVVLFKYRUVWHOOWYRUDXVJHVHW]WLFKNDQQGDGXUFKGLH(QWZLFNOXQJ VRVWHXHUQGDGDVZDVYRQGHPHQWDUWHWHQ$EOHJHUGHU7LHIHJHERUHQZXUGH VLFK QLFKW VR VWDUN HQWIDOWHW GD LQ LKP GLH -lJHU XPJHKHQ XQG %HXWH PDFKHQ N|QQHQ %DQVKHHURRP EHJOFNZQVFKWH VLFK GD]X GD VLH GHP %HDXIWUDJWHQ GHV .RVPRNUDWHQQLFKWVYRQ.D]]HQNDWWV.HUQPRWLYDWLRQYHUUDWHQKDWWH ³'X PXW GD]X QLFKW HUVW GLH =XVWLPPXQJ +RUWDFKV HLQKROHQ" HUNXQGLJWH VLH VLFKLURQLVFK ³$OV %HDXIWUDJWHU HLQHV .RVPRNUDWHQ KDEH LFK ZHLWUHLFKHQGH .RPSHWHQ]HQ HUNOlUWH$VVXU+DWRQKRFKIDKUHQG³,FKZHUGHDOOHLQHQWVFKHLGHQ 8QGLFKZHUGHGLFKVWHXHUQGDFKWH%DQVKHHURRP /DXWIUDJWHVLH ³'DUILFKGLFKQDFK$YDWDUEHJOHLWHQ" $VVXU+DWRQVPLWWOHUHV$XJHIXQNHOWHJOKHQGURW ³'DV PXW GX ZRKO GHQQ HLQH (LQJHEXQJ VDJW PLU GD GX GRUW GHLQH ZDKUH ,GHQWLWlWZLHGHUILQGHQZLUVW=HURWUlXPHULQXQG3HGRWUDQVIHUHULQHUZLGHUWHHU *(1(7,6&+(65(6(592,5 (EHQ QRFK ZDU WLHIH 'XQNHOKHLW XP VLH KHUXP JHZHVHQ XQG DXFK LQ LKUHP %HZXWVHLQ 'DVKDWWHVLFKVFKODJDUWLJJHlQGHUW 1XU QRFK HLQ NUHLVUXQGHU ILQVWHUHU )OHFN LP 6WHUQHQPHHU EHU LKUHP 5DXPVFKLII HULQQHUWH DQ GHQ 6WXU] GXUFK GLH 'XQNHOKHLW XQG GLH =HLW %LV DXI GLHVHQ)OHFNZDUHVKHOOGHQQGDV6FKLIIEHIDQGVLFKQDKHGHU=HQWUXPVUHJLRQ HLQHU*DOD[LV 8QGDXFKLP%HZXWVHLQGHUHUGLHVLFKYRUKHUIU%DQVKHHURRPJHKDOWHQKDWWH IUGLH:RKQXQJGHU7RGHVIHHZDUHVKHOOJHZRUGHQ 6LHNDQQWHSO|W]OLFKLKUHZDKUH,GHQWLWlWXQGZXWHLKUHQULFKWLJHQ1DPHQ ,UXQDYRQ%DVV7HWK 'DIU MHGRFK KDWWH VLH HLQHQ KRKHQ 3UHLV EH]DKOW ² XQG VLH DKQWH GD VLH YHUORUHQZDUWLHILP5DXPXQGWLHILQGHU=HLW *UEHOQG PXVWHUWH VLH GLH +RORELOGHU XQG ZHFKVHOQGHQ 6\PEROH DXI GHU ,QQHQZDQGXQJ LKUHV 5DXPVFKLIIV ² XQG VLH VDK GD HV ]X IUK ZDU IU ZDV DXFKLPPHU 8QWHUGHQ3DQ]HUVFKDOHQGHU)LQVWHUHQ3ODQHWHQSXOVLHUWHGDV/HEHQ²VRZLH

HVHLQVWXQWHUGHQ6FKDOHQGHU5HSWLOLHQHLHUSXOVLHUWKDWWH ,UXQDYRQ%DVV7HWKZXWHQLFKWPHKUZRKHUVLHNDPXQGZRKLQVLHZROOWH6LH NDQQWHQXUQRFKLKUHQ1DPHQXQGGHQLKUHVXQHQGOLFKIHUQHQ*HIlKUWHQ$WODQV 1DPHQ 8QG VLH ZXWH GD VLH DXV GHP 6FKZDU]HQ 6WHUQHQWRU 3WDK LQ GLHVHQ 7HLO GHV 8QLYHUVXPV JHNRPPHQ ZDU LQ GHP GHU 6FKUHFNHQ UHJLHUWH GHU 6FKUHFNHQ HLQHU9HUEDQQXQJLQHLQH9HUJDQJHQKHLWLQGHUGLH(YROXWLRQQRFKQLFKWVRZHLW IRUWJHVFKULWWHQ ZDU GD ,UXQD *HVFK|SIH ILQGHQ ZUGH GLH GDFKWHQ XQG NRPPXQL]LHUWHQ ³9HUJDQJHQKHLW VDJWH VLH LP 6HOEVWJHVSUlFK ³:LH ELQ LFK VR WLHI LQ GLH 9HUJDQJHQKHLWJHUDWHQ":DUGDVPHLQ=LHOJHZHVHQ" 6LHVFKWWHOWHGHQ.RSI ³'DVLVWQLFKWP|JOLFKEHDQWZRUWHWHVLHVLFKLKUHOHW]WH)UDJHVHOEVW³:RQRFK QLFKWV H[LVWLHUW DXHU 3URWRZHOWHQ XQG 3URWROHEHQ NDQQ LFK DXFK QLFKWV DXVULFKWHQ )ROJOLFK ZDU HV HLQ 8QIDOO RGHU HLQ 0LJHVFKLFN GD LFK VR WLHI GXUFK GLH =HLW JHVWU]W ELQ :HQQ LFK ZHQLJVWHQV ZWH ZDV GDV IU HLQ 5DXPVFKLIILVWLQGHPLFKVLW]HXQGZLHLFKHVGD]XEULQJHQNDQQPLWPLUGXUFK 3WDKZLHGHUKLQDXI]XVWHLJHQLP6FKDFKWGHU=HLW$EHUDOOHVZDVLFKZHLLVW ZLHLFKGLH+RORELOGHUXQG6\PEROHGHXWHQPXXP]XHUNHQQHQZDVXPPLFK KHUXPJHVFKLHKW ³+DQGHOWHVVLFKXPHLQHQ1RWIDOO"IUDJWHHLQHHPRWLRQVORVH6WLPPH ,UXQDEOLFNWHVLFKVXFKHQGXP 1LHPDQGZDU]XVHKHQ ³:HUKDWGDJHVSURFKHQ"HUNXQGLJWHVLHVLFK ³+DQGHOW HV VLFK XP HLQHQ 1RWIDOO" ZLHGHUKROWH GLH HPRWLRQVORVH 6WLPPH VWHUHRW\S ³9HUGDPPWMDVFKULH,UXQDDXIJHEUDFKW³:HQQGDVQLFKWHLQ1RWIDOOLVWGDQQ JLEW HV NHLQH 1RWIlOOH 'LH 3ODQHWHQ XQWHU GHUHQ 3DQ]HUVFKDOHQ GDV /HEHQ SXOVLHUW VLQG YHUILQVWHUW REZRKO VLH GRFK XP KHOOH 6RQQHQ NUHLVHQ 'DV ZLUNW VLFKYHUKlQJQLVYROODXVGHQQIDOOVGRUWLQGHU)LQVWHUQLVGLH(YROXWLRQEHJLQQW ZLUGHVHLQ/HEHQVHLQGDVGDV8QLYHUVXPPLW'XQNHOKHLWIOOW 6LHZXWHQLFKWRELKUH%HKDXSWXQJHQ]XWUDIHQVRQGHUQVDJWHQXUZDV/RJLN XQG3KDQWDVLHLKUHLQJDEHQXQGZDVHLQHGXQNOH$KQXQJLKU]XUDXQWH ³'D HV VLFK XP HLQHQ HFKWHQ 1RWIDOO ]X KDQGHOQ VFKHLQW HUNOlUH LFK GHQ $XVQDKPH]XVWDQG VDJWH GLH HPRWLRQVORVH 6WLPPH ³+LHU VSULFKW GDV 6\QWKREHZXWVHLQ GHU 7LHIHQVSKlUH $VVXU+DWRQV %DQVKHHURRP XQEHNDQQWH (LQIOVVH KDEHQ ZlKUHQG GHV 'XUFKJDQJV GXUFK 3WDK GHQ %HDXIWUDJWHQ GHV .RVPRNUDWHQ +RUWDFK DXV GHU 6SKlUH HQWIHUQW ,FK HUQHQQH GLFK KLHUPLW ]X VHLQHP 1DFKIROJHU XQG HUWHLOH GLU GLH :HLVXQJ GLH 9HUKlOWQLVVH LQ GLHVHU 5HJLRQ GHV 8QLYHUVXPV ]X XQWHUVXFKHQ XQG DOOH QHJDWLYHQ (QWZLFNOXQJHQ DXI]XKDOWHQ GLH VLFK YHUKlQJQLVYROO DXI GLH (YROXWLRQ GHV /HEHQV DXVZLUNHQ N|QQHQ ,UXQDYRQ%DVV7HWKYHUVFKOXJHVGLH6SUDFKH *DQ]DEJHVHKHQGDYRQGDGDVZDVGDV6\QWKREHZXWVHLQGHV5DXPVFKLIIVDOV

(UHLJQLVGDUJHVWHOOWKDWWHVRXQJHKHXHUOLFKNODQJGDHVGDGXUFKVFKRQEHLQDKH JODXEKDIW ZXUGH HUVFKLHQ HV ,UXQD DOV EODQNHU +RKQ VLH ]XU 1DFKIROJHULQ GHV %HDXIWUDJWHQHLQHV.RVPRNUDWHQ]XHUQHQQHQ 6LHKDWWHYLHOYHUJHVVHQDEHUVRYLHOZXWHVLHQRFKGDVLHHLQ,QWHOOLJHQ]ZHVHQ ZDUGDVDXIHLQHUYLHOQLHGULJHUHQ6WXIHGHU(YROXWLRQVWDQGDOVHLQ.RVPRNUDW XQG GDV GHVKDOE QLHPDOV GLH 0LVVLRQ GHV %HDXIWUDJWHQ HLQHV .RVPRNUDWHQ GXUFKIKUHQNRQQWH (VZDUMDZRKOQLFKWP|JOLFKGDVLHPLWLKUHQEORHQ+lQGHQ(QWZLFNOXQJHQ DXIKLHOW GLH VLFK YHUKlQJQLVYROO DXI GLH (YROXWLRQ GHV /HEHQV DXVZLUNHQ NRQQWHQ ³,FK KHLH QLFKW %DQVKHHURRP VRQGHUQ ,UXQD YRQ %DVV7HWK HUNOlUWH VLH QDFKGHP VLH LKUH 6SUDFKH ZLHGHUJHIXQGHQ KDWWH ³8QG PHLQH )lKLJNHLWHQ ZHUGHQQLFKWGDGXUFKGLHHLQHV%HDXIWUDJWHQGHU.RVPRNUDWHQGDGXPLFK]X VHLQHU1DFKIROJHULQHUQHQQVW ³'X ELVW ,UXQD YRQ %DVV7HWK VWHOOWH GLH 7LHIHQVSKlUH IHVW ³'DV DOVR LVW GLH ZDKUH,GHQWLWlWQDFKGHUGXVXFKWHVW,UXQDYRQ%DVV7HWKDOV1DFKIROJHULQYRQ $VVXU+DWRQVWHKHQGLUVHOEVWYHUVWlQGOLFKDOOHPHLQH+LOIVPLWWHO]XU9HUIJXQJ ²HLQVFKOLHOLFKPHLQHUV\QWKHWLVFKHQ,QWHOOLJHQ] 'X KDVW YRUKLQ GHQ :XQVFK JHlXHUW ZLHGXPLFKGD]XEULQJHQN|QQWHVWPLW GLU GXUFK 3WDK ZLHGHU KLQDXI]XVWHLJHQ LP 6FKDFKW GHU =HLW 1XQ MHW]W LVW GDV JDQ] HLQIDFK $OV 1DFKIROJHULQ $VVXU+DWRQV EUDXFKVW GX HV PLU QXU ]X EHIHKOHQ ³'DQQEHIHKOHLFKHVGLUKLHUPLWVDJWH,UXQDVFKQHOO ³9RUDXVJHVHW]W DOOHUGLQJV GD GX YRUKHU GLH 0LVVLRQ GXUFKIKUVW GLH $VVXU +DWRQVLFKVHOEVWDXIHUOHJHQZUGHZlUHHUDQZHVHQGQlPOLFKGLH9HUKlOWQLVVH LQ GLHVHU 5HJLRQ GHV 8QLYHUVXPV ]X XQWHUVXFKHQ XQG DOOH QHJDWLYHQ (QWZLFNOXQJHQGLHVLFKYHUKlQJQLVYROODXIGLH(YROXWLRQGHV/HEHQVDXVZLUNHQ N|QQHQDXI]XKDOWHQ ³'DVLVW(USUHVVXQJHQWJHJQHWH,UXQD]RUQLJ³$XHUGHPZLHGHUKROVWGXGLFK QXU ³(V LVW NHLQH (USUHVVXQJ VRQGHUQ ]ZLQJHQGH /RJLN ZLGHUVSUDFK GLH 6SKlUH ³:DV KLHU JHVFKLHKW PX DXIJHKDOWHQ ZHUGHQ GHQQ IDOOV HV QLFKW DXIJHKDOWHQ ZLUGXQGHVVLFKYHUKlQJQLVYROODXIGLH(YROXWLRQGHV/HEHQVDXVZLUNWZUGHVW GXK|KHULQGHU=HLWQLFKWVPHKUVRYRUILQGHQZLHHVHLQPDOZDU ,UXQD EHJULII GD VLH VLFK GHQ $XIWUDJ GHQ GLH 6SKlUH LKU HUWHLOW KDWWH VHOEVW ]X]XVFKUHLEHQ KDWWH 6LH ZDU HV VFKOLHOLFK JHZHVHQ GLH EHKDXSWHW KDWWH GD GDV ZDV KLHU JHVFKDK VLFK YHUKlQJQLVYROO DXI GLH (YROXWLRQ GHV /HEHQV DXVZLUNWH $EHU ZHQQ VLH VLFK QLFKW GDUDXI EHUXIHQ KlWWH ZlUH GLH /DJH YRQ GHP 6\QWKREHZXWVHLQGHU6SKlUHQLFKWDOV1RWIDOOHLQJHVWXIWZRUGHQXQGVLHKlWWH QLHPDOV GLH 0|JOLFKNHLW EHNRPPHQ VLFK GHU )lKLJNHLWHQ GLHVHU 6SKlUH ]X EHGLHQHQ 8QG]XGHPZDULKUH/DJHHLQVFKlW]XQJQXUGDV(UJHEQLVGHU$XVZHUWXQJHQGHU +RORELOGHUXQG6\PEROHJHZHVHQGLHLKUYRQGHQXQYHUJOHLFKOLFKKRFKZHUWLJHQ

2UWXQJVDQODJHQ GHU 6SKlUH ]XU 9HUIJXQJ JHVWHOOW ZRUGHQ ZDUHQ GDPLW VLH HUNDQQWHZDVXPVLHKHUXPJHVFKDK :DV ,UXQD QLFKW EHJUHLIHQ NRQQWH ZDU ZLH GDV ZDV LQ GHU =XNXQIW EHUHLWV 7DWVDFKH ZDU GXUFK HWZDV ZDV QDFKWUlJOLFK LQ GHU 9HUJDQJHQKHLW JHVFKDK XPJHNUHPSHOWZHUGHQNRQQWH 6LHIUDJWHGLH6SKlUHGDQDFK ³'XKDVWGLUGHLQH)UDJHVFKRQVHOEHUEHDQWZRUWHW,UXQDYRQ%DVV7HWKVDJWH GLH 6SKlUH ³,QGHP GX HLQ *HVFKHKHQ DOV QDFKWUlJOLFK LQ GHU 9HUJDQJHQKHLW HLQVWXIWHVW :HQQ QlPOLFK GLH 9HUJDQJHQKHLW YHUlQGHUW ZLUG YHUlQGHUQ VLFK GDPLWGLH9RUDXVVHW]XQJHQIUGLH=XNXQIWXQGGDGXUFKQDFKGHQ*HVHW]HQGHU .DXVDOLWlWDXFKGLH9HUKlOWQLVVHLQGHU=XNXQIW:DVHLQPDOZDUZLUGHLQIDFK QLHPDOVJHZHVHQVHLQ ³$EHUULHIHGDVQLFKWHLQ=HLWSDUDGR[RQKHUYRU"HUNXQGLJWHVLFK,UXQD ³'DV LVW VRJDU VHKU ZDKUVFKHLQOLFK HUNOlUWH GLH 6SKlUH ³(V ZUGH GDV 9HUKlQJQLVDEHUQLFKWDEZHQGHQVRQGHUQQXUYHUJU|HUQ ³,FK QHKPH GHQ $XIWUDJ DQ HQWVFKLHG ,UXQD ³%HYRU ZLU ]X NRQNUHWHQ 0DQDKPHQ EHUJHKHQ YHUUDWH PLU QXU QRFK ZR]X GX HLJHQWOLFK PLFK HLQH XQZLVVHQGH XQG QLFKW VHKU LQWHOOLJHQWH 9HUWUHWHULQ HLQHU XQWHUHQWZLFNHOWHQ 6SH]LHVEUDXFKVWZHQQGXDOOHHUIRUGHUOLFKHQ0DQDKPHQPLWHLJHQHQ0LWWHOQ GXUFKIKUHQNDQQVW" ³%HYRU 0DQDKPHQ GXUFKJHIKUW ZHUGHQ PVVHQ (QWVFKHLGXQJHQ JHWURIIHQ ZHUGHQ DQWZRUWHWH GLH 6SKlUH ³0HLQH 0|JOLFKNHLWHQ EHUWUHIIHQ ZDKUVFKHLQOLFK GLH GLH GHLQH 6SH]LHV LKUHQ *|WWHUQ ]XJHVWHKW DEHU GDV )lOOHQ YRQ (QWVFKHLGXQJHQ JHK|UW QLFKW GD]X 'DV VWHKW DXVVFKOLHOLFK HLQHP .RVPRNUDWHQ RGHU VHLQHP %HDXIWUDJWHQ ]X ² EH]LHKXQJVZHLVH VHLQHU 1DFKIROJHULQ ³'LHGXLQGLHVHP)DOOVHOEVWHUQDQQWKDVWVWHOOWH,UXQDYROOHU6DUNDVPXVIHVW ³1LFKWHLJHQPlFKWLJZHKUWHGLH6SKlUHDE³6RQGHUQDXIJUXQGYRQ9RUJDEHQ GLH $VVXU+DWRQ IU HLQHQ 1RWIDOO ZLH GLHVHQ KLQWHUODVVHQ KDW ,FK ZDU DXFK LQ GHU%H]LHKXQJQXUDXVIKUHQGHV2UJDQ ³'HU9ROOVWUHFNHUPHLQWH,UXQDGLHVPDOIUHLYRQ6DUNDVPXVXQGIJWHKLQ]X VLFKDQHWZDVDXVLKUHUIHUQHQ=XNXQIWHULQQHUQG³:LH1HPHVLVGLH*|WWLQGHU YHUJHOWHQGHQ *HUHFKWLJNHLW ,FK QHQQH GLFK KLHUPLW 1HPHVLV GDV WULIIW HV YLHOOHLFKWEHVVHUDOVHLQEHOLHELJHU1DPHGHQQLUJHQGHLQHQ1DPHQKlWWHLFKGLU VRZLHVRJHJHEHQ ³:DUXPQLFKW6SKlUH"ZDQGWHGLH6SKlUHHLQ ³'DVLVWNHLQ1DPHZHKUWH,UXQDDE³.HLQH'LVNXVVLRQGDUEHU1HPHVLV'LH (QWVFKHLGXQJHQ WUHIIH LFK DXFK GLH LQ .OHLQLJNHLWHQ -HW]W XQVHUH HUVWH +DQGOXQJ 'X ZLUVW GHQ QlFKVWHQ )LQVWHUHQ 3ODQHWHQ DQIOLHJHQ XQG GRUW IHVWVWHOOHQ ZLH GDV /HEHQ XQWHU VHLQHU 3DQ]HUVFKDOH EHVFKDIIHQ LVW XQG RE HV VLFKDXIQDWUOLFKH$UWXQG:HLVH]XGHPHQWZLFNHOWKDWZDVHVLVW ³9HUVWDQGHQDQWZRUWHWH1HPHVLV³$XVIKUXQJHUIROJWVRIRUW 'LH 6SKlUH OHJWH GLH UXQG ]ZHLHLQKDOE /LFKWMDKUH (QWIHUQXQJ ]XP QlFKVWHQ 6RQQHQV\VWHP LQ ZHQLJHU =HLW DOV HLQHU 0LQXWH ]XUFN XQG EHQXW]WH GD]X GDV

0HGLXPGHV/LQHDUUDXPV 'LFKW YRU GHP HOIWHQ 3ODQHWHQ HLQHU JURHQ EODXHQ 6RQQH NHKUWH VLH LQ GHQ 1RUPDOUDXP]XUFNXQGJLQJLQHLQHQ2UELWXPGHQ3ODQHWHQ$QVFKOLHHQGOLH VLHLKUH2UWXQJVV\VWHPHVSLHOHQ ³=ZLVFKHQ GHU 6RQQH XQG GLHVHP 3ODQHWHQ H[LVWLHUW HLQ [GLPHQVLRQDOHV $EVRUSWLRQVIHOG GDV DOOH 6WUDKOXQJ VFKOXFNW XQG YRQ GHP HOIWHQ 3ODQHWHQ IHUQKlOWEHULFKWHWHVLH,UXQD ³$OOH 6WUDKOXQJ GHU EODXHQ 6RQQH RGHU DOOH 6WUDKOXQJ EHUKDXSW" KDNWH ,UXQD QDFK ³$OOH 6WUDKOXQJ EHUKDXSW DQWZRUWHWH 1HPHVLV ³'DV EHWULIIW DEHU DXVVFKOLHOLFKGHQHOIWHQ3ODQHWHQ ,UXQD YRQ %DVV7HWK PXVWHUWH QDFKGHQNOLFK GLH +RORELOGHU XQG ZHFKVHOQGHQ 6\PEROH$XVGLHVHUJHULQJHQ(QWIHUQXQJYHUULHWHQVLHLKUGDGLH3DQ]HUVFKDOH GLHVHVILQVWHUHQ3ODQHWHQDXVHLQHUEHVRQGHUHQ$UWYRQ)RUPHQHUJLHEHVWDQGXQG GD GDUXQHU ELRORJLVFK OHEHQGH 0DWHULH XQWHU RSWLPDOHQ :DFKVWXPVEHGLQJXQJHQI|UPOLFKEURGHOWHXQGVLFKGDEHLLQNXU]HQ,QWHUYDOOHQ Y|OOLJ XPZDQGHOWH lKQOLFK ELRORJLVFKHQ 0HWDPRUSKRVHQ DEHU QLFKW LGHQWLVFK GDPLW GHQQ HV ELOGHWHQ VLFK QLHPDOV LQ VLFK JHVFKORVVHQH %LRV\VWHPH ZLH 2UJDQLVPHQKHUDXVVRQGHUQGLHELRORJLVFKH0DWHULHEOLHELPPHUHLQHDPRUSKH 0DVVH ³.DQQVWGXJHQDXHUIHVWVWHOOHQZDVXQWHUGHU3DQ]HUVFKDOHJHVFKLHKW"ZDQGWH VLFK,UXQDDQGLH6SKlUH³6ROOGRUWYLHOOHLFKWHLQSODQHWDULVFKHV.ROOHNWLYZHVHQ HQWVWHKHQ" ³'DV LVW QLFKW DXV]XVFKOLHHQ DQWZRUWHWH 1HPHVLV ³$OOHUGLQJV ILQGHW GHU]HLW QLFKWV DQGHUHV VWDWW DOV GLH IRUFLHUWH 3URGXNWLRQ YRQ *HQHQ GLH VWlQGLJ QHXH .HWWHQ'RSSHOVWUDQJ6SLUDOHQDXV'16)lGHQELOGHQ:DVGDEHLOHW]WHQ(QGHV KHUDXVNRPPHQZLUGOlWVLFKQRFKQLFKWDEVHKHQ 'LH (UZlKQXQJ YRQ *HQHQ XQG '16)lGHQ OHJWH HLQ SDDU YHUVFKWWHWH (ULQQHUXQJHQIUHLXQGPDFKWHVLH,UXQDV%HZXWVHLQZLHGHU]XJlQJOLFK ³'LH *HQHWLVFKH $OOLDQ] IOVWHUWH VLH XQG PHUNWH ZLH LKU NDOWH 6FKDXHU EHU GHQ5FNHQMDJWHQ³6LHVWUHEWGLH5HGX]LHUXQJGHUJHQHWLVFKHQ'LYHUVLWlWDOOHU /HEHQVIRUPHQGHV8QLYHUVXPVDQ:RKHUZHLLFKGDV" ³9RQ6XSHUFRQWURODQWZRUWHWH1HPHVLV $EHUPDOV ZXUGHQ YHUVFKWWHWH (ULQQHUXQJHQ ZLHGHU ,UXQDV %HZXWVHLQ ]XJlQJOLFK ³6XSHUFRQWURO'DV=HLWLPSHULXP:RKHUZHLWGXGDYRQ1HPHVLV ³'XJDEVWGLHVHXQGDQGHUH,QIRUPDWLRQHQ$VVXU+DWRQHUNOlUWHGLH6SKlUH ,UXQDYRQ%DVV7HWKZDUHUVFKWWHUW ³'XVFKHLQVWDOOHV]XZLVVHQZDVLFKYHUJHVVHQKDEHXQGEHKlOWVWHVIUGLFK ELVLFKGLFKGDQDFKIUDJH8QGLFK]HUEUHFKHPLUGLHJDQ]H=HLWEHUGHQ.RSI XPPLFKGDUDQ]XHULQQHUQZRKHULFKNDPXQGZRKLQLFKZROOWH ³,FK ELQ QLFKW EHIXJW GLU ,QIRUPDWLRQHQ DXI]XGUlQJHQ ,UXQD YRQ %DVV7HWK HUNOlUWH 1HPHVLV ³(V ZlUH PLU DXFK QLFKW P|JOLFK GLU DOOH ,QIRUPDWLRQHQ ]X JHEHQEHUGLHLFKYHUIJHGHQQGLH$XIQDKPHIlKLJNHLWYRQ:HVHQZLUGLULVW

EHJUHQ]WXQGGLH6FKZHOOH]XP:DKQVLQQVFKQHOOEHUVFKULWWHQ'RFKZHQQGX )UDJHQDQPLFKULFKWHVWZHUGHLFKVLHGLUDOOHEHDQWZRUWHQ ³8QGRELFK)UDJHQDQGLFKULFKWHQZHUGHULHI,UXQDLQHLQHP$XVEUXFKYRQ (XSKRULH ,PGDUDXIIROJHQGHQ)UDJHXQG$QWZRUWVSLHOHUIXKU,UXQDDOOGDVZDVVLH$VVXU +DWRQ EHU VLFK VHOEVW EHU GLH ([LVWHQ] LKUHV %HZXWVHLQV LQ HLQHP IUHPGHQ .|USHU GHP GHU NRSLHUWHQ ,QNDUQDWLRQ $PXQ6LWDL EHU 6XSHUFRQWURO XQG GDV =HLWLPSHULXP EHU GLH %RWVFKDIW GHV 6DUOHQJRUW QDPHQV .D]]HQNDWW XQG EHU YHUVFKLHGHQHVDQGHUHVPLWJHWHLOWKDWWH 6LHHUIXKUDXFKGD$VVXU+DWRQDXILKUH$XIIRUGXQJEHVFKORVVHQKDWWHPLWLKU LQVHLQHU7LHIHQVSKlUHGXUFKGDV6WHUQHQWRU3WDKLQGLH9HUJDQJHQKHLW]XJHKHQ XQG VLFK PLW LKU LQ GHU 6WHUQHQVWDGW $YDWDU XP]XVHKHQ XP GDQDFK ]X HQWVFKHLGHQ RE HU GLH *HQHWLNHU GHU *HQHWLVFKHQ $OOLDQ] VR PRWLYLHUHQ VROOWH ZLH.D]]HQNDWWHVVLFKYRUJHVWHOOWKDWWH 0HKUDOOHUGLQJVQLFKWGHQQ1HPHVLVKDWWHQXUVSHLFKHUQN|QQHQZDVVLH$VVXU +DWRQEHULFKWHWKDWWH'DUDXIKLQVFKPRO]LKUH(XSKRULHVFKQHOOGDKLQ ³,UXQD YRQ %DVV7HWK VWLH VLH QLHGHUJHVFKODJHQ KHUYRU ³:DV VDJW PLU GDV VFKRQ"(VLVWHLQ1DPHZHLWHUQLFKWV*HZLLFKHULQQHUHPLFKDXFKDQ$WODQ ZHL GD ZLU ]XVDPPHQOHEWHQ DEHU EHU VHLQH XQG PHLQH +HUNXQIW ZHL LFK QLFKWV :LU PVVHQ GRFK $QJHK|ULJH HLQHU =LYLOLVDWLRQ LUJHQGZR LP .RVPRV VHLQLQHLQHUDQGHUHQ5HJLRQGHV8QLYHUVXPVYLHOOHLFKWXQGYLHOOHLFKWDXFKDXI HLQHU DQGHUHQ =HLWHEHQH :HQQ LFK PHKU GDUEHU ZWH JHOlQJH HV PLU PLW GHLQHU+LOIH1HPHVLVP|JOLFKHUZHLVHGXUFK=HLWXQG5DXPKHLP]XILQGHQXQG ZLHGHUPLW$WODQYHUHLQW]XVHLQ ³'X ZLUVW HV KHUDXVILQGHQ ZHQQ GX XQEHLUUW GHQ :HJ JHKVW GHQ GX JHKHQ PXWVDJWHGLH6SKlUH ³0HLQ :HJ IKUW LQ 5LFKWXQJ =XNXQIW ² ELV GRUW KLQDXI ZR IU PLFK HLQPDO *HJHQZDUWZDUHUNOlUWH,UXQD³,UJHQGZRXQWHUZHJVKRIIHLFKPLWGHLQHU+LOIH .D]]HQNDWWV 9HUPlFKWQLV HUIOOHQ ]X N|QQHQ XQG GLH 1LHGHUODJH GHU *HQHWLVFKHQ $OOLDQ] XQJHVFKHKHQ ]X PDFKHQ LQGHP LFK LKQ YRQ VHLQHU 6FKZHVWHU W|WHQ ODVVH EHYRU HU ]XP /HQNXQJVHOHPHQW GHV 'HNDORJV GHU (OHPHQWHZHUGHQNDQQ,UJHQGZRXQWHUZHJVQDFKREHQ DEHUQLFKWKLHUZRHV QXU GLH )LQVWHUHQ 3ODQHWHQ JLEW GLH XQWHU LKUHQ 3DQ]HUVFKDOHQ QLFKWV DQGHUHV VLQGDOVJHQWHFKQLVFKH+H[HQNFKHQ ³'LHDEHUGDV9HUKlQJQLVIUGLH(YROXWLRQGHV8QLYHUVXPVKHUDXIEHVFKZ|UHQ VROOWHQ LKUH 3URGXNWH DXV GHU 7LHIH GHU 9HUJDQJHQKHLW HPSRUVWHLJHQ XQG GLH =XNXQIWEHUVFKZHPPHQZDUQWH1HPHVLV ³'DV ZHL LFK VHOEHU HUZLGHUWH ,UXQD ³)ROJOLFK VDJH LFK GLU 9HUQLFKWH GLH )LQVWHUHQ3ODQHWHQ²DOOHDXVQDKPVORV ³'DVLVWPLUQLFKWP|JOLFKJDEGLH6SKlUH]XUFN ³1LFKW P|JOLFK" EUDXVWH ,UXQD DXI ³+DVW GX QLFKW EHKDXSWHW GHLQH 0|JOLFKNHLWHQ ZUGHQ GLH EHUWUHIIHQ GLH PHLQH 6SH]LHV LKUHQ *|WWHUQ ]XJHVWHKW" ³'DVLVWULFKWLJHUZLGHUWH1HPHVLV³7KHRUHWLVFKN|QQWHLFKDXFKDXVQDKPVORV

DOOH )LQVWHUHQ 3ODQHWHQ GXUFK K\SHUVFKQHOOH =HUIDOOVLPSXOVH VWHULOLVLHUHQ 3UDNWLVFK JHKW GDV QLFKW ZHLO GLH =HUIDOOVLPSXOVH GLH $EVRUSWLRQVIHOGHU GHU )LQVWHUHQ3ODQHWHQQLFKWGXUFKGULQJHQN|QQHQ ³'LH *HQHWLVFKH $OOLDQ] KDW LKUH %UXW JXW JHVFKW]W VWHOOWH ,UXQD ]RUQLJ IHVW ³*LEWHVNHLQHDQGHUH0|JOLFKNHLW" ³(V JLEW VLH DEHU VLH LVW LQ GLHVHP )DOO QLFKW SUDNWLNDEHO ,FK PWH MHGHQ )LQVWHUHQ 3ODQHWHQ HLQ]HOQ DQIOLHJHQ XQG PLW =HUIDOOVLPSXOVHQ VWHULOLVLHUHQ 'D HV LQ GLHVHU *DOD[LV DEHU PLQGHVWHQV IQI]LJ 0LOOLDUGHQ )LQVWHUH 3ODQHWHQ JLEW EUDXFKWHLFKHLQLJH0LOOLRQHQ-DKUHXPGLHVH$XIJDEH]XEHZlOWLJHQ,QGLHVHU =HLWVSDQQH N|QQWH GLH *HQHWLVFKH $OOLDQ] ZDKUVFKHLQOLFK DXI DQGHUHQ =HLWHEHQHQ 0LOOLDUGHQ XQG DEHU 0LOOLDUGHQ QHXH +H[HQNFKHQ VFKDIIHQ 0HLQ 9RUJHKHQZlUHIROJOLFKY|OOLJQXW]ORV ³:DVVFKOlJVWGXDOVRYRU"IUDJWH,UXQDGXPSI ³:LUPVVHQXQV8QWHUVWW]XQJEHVRUJHQDQWZRUWHWH1HPHVLV ³9RQGHQ.RVPRNUDWHQ"IUDJWH,UXQD ³6LH ZlUHQ XQV NHLQH +LOIH HUNOlUWH GLH 6SKlUH ³(LQ GLUHNWHV (LQJUHLIHQ LVW LKQHQ XQP|JOLFK XQG GLH 0DFKWPPLWWHO EHU GLH VLH MHQVHLWV GHU 0DWHULHTXHOOHQ YHUIJHQ N|QQHQ VLH QLFKW LQV QRUPDOH 8QLYHUVXP WUDQVIHULHUHQ ,UXQD YRQ %DVV7HWK EHUOHJWH NXU] ZDV GHQQ GHQ 8QWHUVFKLHG ]ZLVFKHQ GHP VRJHQDQQWHQ QRUPDOHQ 8QLYHUVXP DXVPDFKWH XQG GHP 7HLO GHV *HVDPWXQLYHUVXPVLQGHPGLH.RVPRNUDWHQH[LVWLHUWHQGHQQGDLKUH5HJLRQ ]XU*HVDPWKHLWGHV8QLYHUVXPVJHK|UWHKLHOWVLHIUVHOEVWYHUVWlQGOLFK 6LHZDJWHQLFKWLQWHQVLYQDFKHLQHU$QWZRUW]XVXFKHQGHQQVLHIUFKWHWHLKU 6HOEVWEHZXWVHLQZUGHVLFKYHUIOFKWLJHQZHQQVLHGLH$QWZRUWIlQGH +DVWLJYHUGUlQJWHVLHGLHVHhEHUOHJXQJHQZLHGHUXQGGLHhEHUOHJXQJREHVVR WLHI LQ GHU 9HUJDQJHQKHLW EHUKDXSW VFKRQ 6XSHULQWHOOLJHQ]HQ JDE GLH VLFK ]X 0DWHULHTXHOOHQXQGZHLWHU]X.RVPRNUDWHQHQWZLFNHOWKDWWHQOLHVLHJDUQLFKW HUVWEHUGHQ$QVDW]KLQDXVNRPPHQ (V JLEW )UDJHQ GLH XQWHUHQWZLFNHOWH ,QWHOOLJHQ]HQ QLHPDOV VWHOOHQ VROOWHQ HQWVFKLHGVLH 'DQDFKKROWHVLHWLHI/XIWXQGIUDJWHPLWGHP0XWGHU9HU]ZHLIOXQJ ³6R ZHUGHQ ZLU XQV DOVR DQ GDV =HLWLPSHULXP ZHQGHQ PVVHQ GDPLW HV 6SH]LDOLVWHQQRFKWLHIHULQGLH9HUJDQJHQKHLWVFKLFNWXPGLH(QWVWHKXQJGLHVHU JHQWHFKQLVFKHQ+H[HQNFKHQYRUEHXJHQG]XYHUKLQGHUQ" ³,FK KDOWH HV IU XQZDKUVFKHLQOLFK GD GDV =HLWLPSHULXP GLH 0|JOLFKNHLW EHVLW]WVRWLHILQGLH9HUJDQJHQKHLWKLQDE]XWDXFKHQHQWJHJQHWH1HPHVLV³8QG ZHQQ GDQQ ZUGH HV DXV HLQHU HUIROJUHLFKHQ $NWLRQ JHJHQ GLH )LQVWHUHQ 3ODQHWHQVRJHIHVWLJWKHUYRUJHKHQGDHVVLFKLQGHU=XNXQIWEHUDOOHODWHUDOHQ XQG SDUDOOHOHQ =HLWGLPHQVLRQHQ GHV JDQ]HQ QRUPDOHQ 8QLYHUVXPV DXVEUHLWHQ N|QQWH ³$EHUGXVHOEVWVDJWHVWZLUEUDXFKWHQ8QWHUVWW]XQJULHI,UXQD³:HUN|QQWH XQVGHQQKHOIHQZHQQQLFKWGLH.RVPRNUDWHQRGHUGDV=HLWLPSHULXP" ³-HGHDQGHUH0DFKW²YRUDXVJHVHW]WVLHLVWNHLQHNRQVWUXNWLYH0DFKWVRQGHUQ

HLQH GHVWUXNWLYH VDJWH 1HPHVLV ³,FK NHQQH QXU HLQH VROFKH 0DFKW 'DV (OHPHQWGHU)LQVWHUQLV ,UXQDV$XJHQZHLWHWHQVLFKYRU8QJODXEHQXQG(QWVHW]HQ ³'DV (OHPHQW GHU )LQVWHUQLV" IUDJWH VLH PLW WRQORVHU 6WLPPH ³'LH IXUFKWEDUH 'XQNHOKHLW GLH LQ GHU *HVHW]ORVHQ 5HJLRQ LP =HQWUXP GHV QRUPDOHQ 8QLYHUVXPV VFKOXPPHUW XQG LQ GHU VLFK GLH -lJHU YHUEHUJHQ" 'HU .RVPRNUDW +RUWDFK VFKLFNWH VHLQHQ %HDXIWUDJWHQ $VVXU+DWRQ LQV QRUPDOH 8QLYHUVXP GDPLWHUHLQHQ$EOHJHUGLHVHU)LQVWHUQLVDXIVSUHQXQGHOLPLQLHUHQVROOWH²XQG GX UlWVW PLU GLH )LQVWHUQLV VHOEVW ]X +LOIH ]X KROHQ 6ROO VLFK GHQQ GDV &KDRV GXUFKVJHVDPWH8QLYHUVXPDXVEUHLWHQ" ³1XU DXI GLHVHU XQWHUHQ =HLWHEHQH DQWZRUWHWH 1HPHVLV VR HPRWLRQVORV ZLH LPPHU ³1DFK VHLQHP 6LHJ ZLUG HV VLFK VHOEVW ]HUIOHLVFKHQ XQG GDGXUFK GLH HLJHQH 0DFKW ZLHGHU ]XJUXQGH ULFKWHQ GHQQ VHLQH 0HQWDOLWlW LVW SHUPDQHQW GHVWUXNWLY 'DV LVW HV ZDV GDV (OHPHQW GHU )LQVWHUQLV YRQ DQGHUHQ 0lFKWHQ XQWHUVFKHLGHWHVNDQQHWZDVHUREHUQDEHUQLHPDOVODQJHEHKDOWHQ ,UXQDYRQ%DVV7HWKZDUQRFKLPPHUIDVVXQJVORV ³8QGGXELOGHVWGLUHLQGLH.RVPRNUDWHQZUGHQHLQHQ3DNWPLWGHU)LQVWHUQLV ELOOLJHQ" ³1DWUOLFK QLFKW DQWZRUWHWH 1HPHVLV ³1LFKW LP YRUDXV :HQQ GHU 3DNW DOOHUGLQJV GHQ EHDEVLFKWLJWHQ =ZHFN HUIOOW KDW ZHUGHQ VLH LKQ LP QDFKKLQHLQ DOVQRWZHQGLJHLQVWXIHQ ³'HU =ZHFN KHLOLJW DOVR DXFK EHL GHQ .RVPRNUDWHQ GLH 0LWWHO VWHOOWH ,UXQD ELWWHU IHVW ³$EHU ZDV LVW ZHQQ GHU 3DNW GHQ EHDEVLFKWLJWHQ =ZHFN QLFKW HUIOOW" ³,Q GLHVHP )DOO ZLUVW GX GLU NHLQH *HGDQNHQ PHKU GDUEHU PDFKHQ N|QQHQ HUZLGHUWHGLH6SKlUH ³$OVRVFK|QVDJWHVLHUHVLJQLHUHQG³'DQQUXIHGDV(OHPHQWGHU)LQVWHUQLV]X +LOIH1HPHVLVO ³'DVNDQQLFKQLFKWHUNOlUWHGLH6SKlUH³'DV(OHPHQWGHU)LQVWHUQLVNDQQQXU YRQ MHPDQG JHUXIHQ ZHUGHQ GHU GLH .XQVW GHV =HURWUlXPHQV EHKHUUVFKW XQG VLFKLQHLQHQVSH]LHOOHQVHKULQWHQVLYHQ=HURWUDXPKLQHLQ]XVWHLJHUQYHUPDJ ³:LH.D]]HQNDWWVWHOOWH,UXQDIHVW³$EHUGHU6DUOHQJRUWLVWQLFKWPHKU ³'XELVWQRFKVDJWH1HPHVLVXQHUELWWOLFK ,UXQDYRQ%DVV7HWKVSUWHHLVLJH.lOWHLQVLFKDXIVWHLJHQ ³$EHU LFK ELQ QXU HLQH VFKZDFKH =HURWUlXPHULQ ZDQGWH VLH HLQ ³(LQ 1LFKWV JHJHQEHUGHP/HQNHUGHV'HNDORJVGHU(OHPHQWH ³'HLQH 6HHOH LVW VR VWDUN ZLH HLQH VWlKOHUQH =LWDGHOOH LP 7REHQ GHU 1DWXUJHZDOWHQHLQHV3ODQHWHQVWHOOWHGLH6SKlUHIHVW ,UXQD PXWH EHU GLHVHQ 9HUJOHLFK ODXW ODFKHQ ² XQG ZlKUHQG VLH VLFK YRU +HLWHUNHLWVFKWWHOWHPHUNWHVLHZLHLKUHSV\FKLVFKH9HUNUDPSIXQJVLFKO|VWH ³'DVZDUDQJHZDQGWH3V\FKRWKHUDSLHVWHOOWHVLHWURFNHQIHVWQDFKGHPVLHVLFK ZLHGHUEHUXKLJWKDWWH ³7HLOV WHLOV VFKUlQNWH GLH 6SKlUH HLQ ³+lWWH LFK VWDWW GHV %HJULIIV 6HHOH GHQ ZLVVHQVFKDIWOLFKHQ %HJULII +\SHUVH[WD0RGXOSDUVWUDKOXQJYHUZHQGHW ZlUVW GX

HPRWLRQHOO XQEHWHLOLJW JHEOLHEHQ 'HQQRFK LVW HV HLQH 7DWVDFKH GD GHLQH +\SHUVH[WD0RGXOSDUVWUDKOXQJXQJHZ|KQOLFKVWDUNLVW,FKZUGHGLUVRQVWQLFKW ]XPXWHQ GDV (OHPHQW GHU )LQVWHUQLV ]X UXIHQ GHQQ HV JHK|UW HLQ JURHV 0D GLHVHU )lKLJNHLW GD]X XP QLFKW VHOEVW YRQ GHU )LQVWHUQLV YHUVFKOXQJHQ ]X ZHUGHQ ³'HLQ6SUXFKYRQGHU6HHOHZDUNU]HU²XQGHIIHNWLYHUVSRWWHWH,UXQD³0LW GHLQHUZLVVHQVFKDIWOLFKHQ(UNOlUXQJKDVWGXVHLQH:LUNXQJIDVWZLHGHU]HUUHGHW 'RFKLFKVHKHHLQGDLFKGDV5LVLNRHLQJHKHQPXGLH)LQVWHUQLV]XUXIHQ 6LHVFKORGLH$XJHQXQGNRQ]HQWULHUWHVLFKDXIHLQHQ=HURWUDXP ³+RIIHQWOLFK JHOLQJW HV PLU IOVWHUWH VLH EHYRU VLH KLQEHUJOLWW ³8QG KRIIHQWOLFKNULHJHQGLH-lJHUPLFKQLFKW 6781'(18// ,UXQD YRQ %DVV7HWK IKOWH ZLH VLFK GLH *DQ]KHLW LKUHV %HZXWVHLQV DXV GHQ )HVVHOQVHLQHUIOHLVFKOLFKHQ+OOHO|VWHXQGVLFKGDQQEHUGHPUHJORVHQ.|USHU ]XVDPPHQEDOOWHXPVHLQH.UlIWH]XVDPPHOQ )U NXU]H =HLW HUODJ VLH GHU ,OOXVLRQ LQ HLQHP lWKHULVFKHQ (EHQELOG LKUHV .|USHUV EHU GHU YHUODVVHQHQ +OOH ]X VFKZHEHQ XQG VLH GXUFK LKUH $XJHQ ]X EHREDFKWHQ (V LUUWLHUWH VLH QLFKW GHQQ HV ZDU EHL MHGHP =HURWUDXP VR ² XQG LQ JHZLVVHU :HLVHZDUHVQW]OLFK]XU2ULHQWLHUXQJGHV*HLVWHV ,UXQD ZDQGWH LKUH $XIPHUNVDPNHLW IOFKWLJ GHP ,QQHUQ GHU 7LHIHQVSKlUH ]X XQG]XFNWH]XVDPPHQGHQQLKUZDUDOVKlWWHVLHVFKHPHQKDIWGLH*HVWDOW$VVXU +DWRQVJHVHKHQHLQGUHL0HWHUJURHU³=\NORSPLWVFKZDU]EUDXQHU/HGHUKDXW NXJHOI|UPLJHQ 6FKlGHO PlFKWLJHQ 6FKXOWHUQ NXU]HQ VWlPPLJHQ 6lXOHQEHLQHQ EHUODQJHQ $UPHQ XQG HLQHP *HVLFKW RKQH 1DVH PLW GUHL $XJHQ XQG HLQHP VFKPDOHQ0XQGEHNOHLGHWPLWHLQHUVFKZDU]HQ5DXPNRPELQDWLRQ 'RFKZDVZDUGDV" :lKUHQG GLH VFKHPHQKDIWH (UVFKHLQXQJ VLFK ZLHGHU DXIO|VWH JODXEWH ,UXQD LQ HLQHP+DOIWHUDQGHPEUHLWHQ+IWJUWHOHLQHNORELJH+DQGZDIIH]XVHKHQXQG LQ HLQHU PLW .ULVWDOOHQ YHU]LHUWHQ 6FKHLGH HLQ /DQJVFKZHUW 8QG EHU GHP 5FNHQHLQHQJURHQJHZ|OEWHQ5XQGVFKLOGGHVVHQ$XIKlQJHYRUULFKWXQJEHU GLHUHFKWH6FKXOWHUJHVWUHLIWZDU +DOOX]LQDWLRQHQ (V NRQQWHQ QXU +DOOX]LQDWLRQHQ JHZHVHQ VHLQ GHQQ $VVXU+DWRQ ZDU XQEHZDIIQHW=XPLQGHVWKDWWHHUNHLQHVLFKWEDUHQ:DIIHQJHWUDJHQ 'DV *DQ]H ZDU HLQH EORH +DOOX]LQDWLRQ GDFKWH ,UXQD DXFK GLH (UVFKHLQXQJ $VVXU+DWRQV 6FKOLHOLFK ZHL LFK YRQ 1HPHVLV GD XQEHNDQQWH (LQIOVVH ZlKUHQG GHV 'XUFKJDQJV GXUFK GDV 6WHUQHQWRU 3WDK GHQ %HDXIWUDJWHQ GHV .RVPRNUDWHQ+RUWDFKDXVGHU6SKlUHHQWIHUQWKDEHQ 6LH ULHI VLFK ]XU 2UGQXQJ DOV VLH PHUNWH GD LKUH .RQ]HQWUDWLRQ DXI GLH HLJHQWOLFKH $XIJDEH QDFKJHODVVHQ KDWWH 'DEHL ZUGH VLH LKUH JDQ]H .RQ]HQWUDWLRQ EUDXFKHQ XP HWZDV ]X HUUHLFKHQ ZDV VLH ]XYRU QLFKW HLQPDO YHUVXFKWKDWWH

:LHLQWHQVLYLHUWPDQHLQHQ=HURWUDXP" 1LFKW HLQPDO GDV ZXWH VLH 'HVKDOE VDPPHOWH VLH LKUH JDQ]H SVLRQLVFKH .UDIW ZLH LQ HLQHU /LQVH XQG NRQ]HQWULHUWH VLFK HLQ]LJ XQG DOOHLQ GDUDXI PLW LKUHQ *HGDQNHQGDV(OHPHQWGHU)LQVWHUQLV]XHUUHLFKHQ 1DFK HLQLJHU =HLW KDWWH VLH GDV *HIKOHLQHSDUDHQHUJHWLVFKH)ODPPHJHVFKUW ]XKDEHQXQGYRQLKUHP)HXHUYHUEUDQQW]XZHUGHQ 6LHVFKUHFNWHQLFKW]XUFNVRQGHUQIDFKWHGLH)ODPPHPHKUXQGPHKUDQ %LVVLHVLFKVHOEVWY|OOLJYHUJD 8QGQXUQRFKGHU58)DQGDV(OHPHQWGHU)LQVWHUQLVZDU ,UJHQGZDQQEUDFKHLQ%DQQ 'HU6FKOlIHUHUZDFKWH 7LHIDP*UXQGGHU*HVHW]ORVHQ5HJLRQLP=HQWUXPGHV8QLYHUVXPVUHJWHVLFK HWZDV 'XQNOHV HU]LWWHUWH ² XQG HUVWDUUWH DOV HV GHQ 5XI GHU =HURWUlXPHULQ YHUVWDQG ,P QlFKVWHQ 0RPHQW KRE VLFK GLH HUZDFKWH %HVWLH DXV GHU 8U]HLW GHV 8QLYHUVXPV XQG H[SDQGLHUWH PLW VHLQHU JDQ]HQ GXQNOHQ 0DFKW VWLHJ DXV GHP 8QWHUJUXQG DOOHQ 6HLQV XQG VFKR PLW XQEH]lKPEDUHU :LOGKHLW XQG *LHU GRUWKLQZRGHU5XIGHU7UlXPHULQHQWVSUDQJ $OV ,UXQDV %HZXWVHLQ GLH 6WHUQH YHUO|VFKHQ VDK XQG HUNDQQWH GD GLH )LQVWHUQLVLKUHP5XIJHIROJWZDUJHULHWVLHLQ3DQLN 'HQQVLHZXWHPLWHLQHPPDOZDVGLH)LQVWHUQLVZLUNOLFKZDU 6LHHQWVWDPPWHGHU=HLWGDGDV8QLYHUVXPMXQJXQGZLOGXQG]JHOORVZDUGHU =HLW YRU GHP 6FK|SIXQJVSURJUDPP YRU GHP (QWVWHKHQ HUVWHU JHRUGQHWHU 6WUXNWXUHQGHU=HLWYRUGHP,QNUDIWWUHWHQGHV0RUDOLVFKHQ.RGHV 8QG ,UXQD EHJULII GD GLH )LQVWHUQLV lRQHQODQJ DOV NUDIWORVHU 6FKDWWHQ LKUHU VHOEVW GDKLQJHGlPPHUW ZDU ELV LUJHQGZDQQ GHU 0RUDOLVFKH .RGH EHVFKlGLJW ZXUGH XQG 7HLOH GHV 8QLYHUVXPV QDFK XQG QDFK LQ GHQ 8U]XVWDQG ]XUFN]XIDOOHQEHJDQQHQ $EHU GLH QRFK KHLOHQ *OLHGHU GHU 'RSSHOKHOL[ DXV XOWUDKRFKIUHTXHQWHU +\SHUHQHUJLHGLHXQVLFKWEDUGDVJHVDPWH8QLYHUVXPGXUFK]RJHQYHUKLQGHUWHQ ]XYHUOlVVLJGDVLFKGDV(OHPHQWGHU)LQVWHUQLVDXVGHUWLHIHQ*UXEHDP*UXQG GHU*HVHW]ORVHQ5HJLRQHUKRELQGLHHVYHUEDQQWZDU 1XUZHQQMHPDQGPLWDXHUJHZ|KQOLFKVWDUNHU:LOOHQVNUDIWLP=HURWUDXPQDFK GHU )LQVWHUQLV ULHI NRQQWH VLH VLFK YRQ GHP %DQQ EHIUHLHQ XQG LQ ]HLWYHUOXVWIUHLHQ6SUQJHQGDV8QLYHUVXPGXUFKHLOHQ 8P GHQ 8U]XVWDQG GLHVHV 8QLYHUVXPV ZLHGHUKHU]XVWHOOHQ XP DOOHV ZLHGHU ]X UHGX]LHUHQ DXI HLQHQ 3XQNW RKQH UlXPOLFKH $XVGHKQXQJ XQG RKQH ]HLWOLFKH 'DXHU ,Q GHP HV NHLQHQ 0RUDOLVFKHQ .RGH JDE VRQGHUQ QXU GLH =JHOORVLJNHLW GHU NRVPLVFKHQ:LOGQLV ,UXQD ZQVFKWH VLFK VLH N|QQWH LKUHQ 5XI ]XUFNKROHQ 'RFK GDV ZDU XQP|JOLFK 6LHJODXEWHHLQWLHUKDIWHV6W|KQHQ]XK|UHQDOVGLH'XDOLWlWYRQ=HLWXQG5DXP HUVFKWWHUW ZXUGH *OHLFK]HLWLJ VSUWH VLH GD GLH )LQVWHUQLV QDKH ZDU GLH

EHUJHRUGQHWHQ'LPHQVLRQHQGXUFKEUDQGHWHXQGPLWGHQLPPDWHULHOOHQ)LQJHUQ YRQ3DUDVLQQHQQDFKLKUWDVWHWH%HLMHGHU%HUKUXQJZXUGHHVIUGHQ%UXFKWHLO HLQHU6HNXQGHVRGXQNHOXPVLHKHUXPDOVVFKZHEWHVLHLQHLQHP%ODFN+ROH ,FK GDUI QLFKW OlQJHU ZDUWHQ VDJWH VLH VLFK 6RQVW YHUVFKOLQJW PLFK GLH )LQVWHUQLV $OOHV LQ LKU GUlQJWH GDQDFK GHQ =HURWUDXP DE]XEUHFKHQ XQG VLFK LQ LKUHQ .|USHU ]XUFN]XIOFKWHQ 6LH PXWH LKUH JDQ]H :LOOHQVNUDIW DXIELHWHQ XP GLHVHP'UDQJ]XZLGHUVWHKHQ 6LHVFKDIIWHHVZHLOVLHZXWHGDGLH%HVWLHVRQVWLKUHP,QVWLQNWJHIROJWZlUH XQG GLH 5DXP=HLW'XDOLWlW ]HUVW|UW KlWWH ZDV GDV 8QLYHUVXP LQ GHQ =XVWDQG GHU6WXQGH1XOO]XUFNJHZRUIHQKlWWH :RGXUFKDOOHV/HEHQDXVJHO|VFKWZRUGHQZlUHDXFKLKUHV 'DV YHUYLHOIDFKWH LKUH :LOOHQVNUDIW 6WDQGKDIW KLHOW VLH LP =HURWUDXP DXV XQG VFKOHXGHUWH GHU LPPHU QlKHU XQG QlKHU KHUDQWREHQGHQ 'XQNHOKHLW PLW ZDFKVHQGHU ,QWHQVLWlW GLH :LHGHUKROXQJ LKUHV 5XIHV HQWJHJHQ :lKUHQG VLH VSUWH XQG K|UWH ZLH HWZDV LQ GHU )LQVWHUQLV XPKHUVFKOLFK XQG GDUDXI ODXHUWH ]X]XSDFNHQVREDOGVLHLQGLH'XQNHOKHLWJHULHW]ZDQJVLHVLFKGD]XLKUH6HHOH PLWGHP6FKLOGDOOHVYHUDFKWHQGHU$UURJDQ]]XZDSSQHQXPGHU)LQVWHUQLVLKUH 8QQDKEDUNHLWXQGLKUH0DFKWEHUVLHVSUHQ]XODVVHQ 'HQQVLHKDWWHGLH%HVWLHLP=HURWUDXPJHUXIHQXQGDOVGLH)LQVWHUQLVGHP5XI IROJWH KDWWH VLH VLFK LKUHU %HIHKOVJHZDOW ]X XQWHUZHUIHQ 'DV ZDU QDWUOLFK ZLGHUGLH1DWXUGHU'XQNHOKHLWGLHHLQ3URGXNW]JHOORVHU:LOGKHLWZDU6LHERW GHVKDOE LKU JDQ]HV 5HSHUWRLUH DQ IXUFKWHLQIO|HQGHP *HKDEH DXI XP GLH =HURWUlXPHULQ]XYHUXQVLFKHUQGHQQVREDOGLKU6HOEVWYHUWUDXHQZDQNWHNRQQWH GLH)LQVWHUQLVDXVGHP=ZDQJGHV%HIHKOVDXVEUHFKHQ 8QGVLHYHUVFKOLQJHQ 'DV (OHPHQW GHU )LQVWHUQLV WREWH XQG EUOOWH XQG GURKWH 'RFK DOOH VHLQH 9HUVXFKH GHQ =ZDQJ GHV 5XIHV DE]XVFKWWHOQ VFKHLWHUWHQ DQ GHU 8QHUVFKWWHUOLFKNHLWYRQ,UXQDV:LOOHQVNUDIW:LHGLH)OXWHLQHV2]HDQVVLFKEHL (EEH ]XUFN]RJ VR ]RJ GLH 'XQNHOKHLW VLFK DXV GHU 1lKH GHU =HURWUlXPHULQ ]XUFNXQGILHOVWDWWGHVVHQEHUGLH)LQVWHUHQ3ODQHWHQKHU 'LH 3DQ]HUVFKDOHQ ]HUEUDFKHQ GLH [GLPHQVLRQDOHQ $EVRUSWLRQVIHOGHU ZXUGHQ DXVJHO|VFKW XQG GLH JUDXHQKDIWH %UXW GHU JHQWHFKQLVFKHQ +H[HQNFKH KDXFKWH XQWHUGHP]HUVW|UHULVFKHQ:LUNHQGHU)LQVWHUQLVLKUQRFKXQEHVHHOWHV/HEHQDXV 8QGZRVLFKGDQDFKQRFKHWZDVUHJWHZXUGHHVHLQHOHLFKWH%HXWHGHU-lJHUGLH LQGHU)LQVWHUQLVDXI3LUVFKJLQJHQ 'LH'XQNHOKHLWKDWWHJHVLHJW ,UXQDYRQ%DVV7HWKVSUWHZLHVLFKHLVNDOWH)XUFKWLQLKUH6HHOHVFKOLFK=ZDU KDWWHGDV(OHPHQWGHU)LQVWHUQLVLKUHP%HIHKOJHKRUFKWDEHUGXUFKVHLQHQ6LHJ EHUGLH6DWDQVEUXWGHU*HQHWLVFKHQ$OOLDQ]ZDUHVVWlUNHUJHZRUGHQ (V EHKHUUVFKWH GLH 5DXP=HLW6WUXNWXUHQ HLQHU JDQ]HQ *DOD[LV XQG GDPLW DXFK GLH LQ VLH HLQJHEHWWHWH 0DWHULH GHUHQ G\QDPLVFKH =HQWUHQ YRQ LQWHQVLYHQ .UDIWZLUNXQJHQHUIOOWZDUHQHLQJHZDOWLJHV0DFKWUHVHUYRLUGDVHQWZHGHUGHU (YROXWLRQ ]XU 9HUIJXQJ VWDQG RGHU LQ HLQH %DOOXQJ YRQ 1HJDWLRQVHQHUJLH

YHUZDQGHOW ZHUGHQ NRQQWH GLH VLFK GDQQ ODZLQHQDUWLJ GXUFK GDV JDQ]H 8QLYHUVXP DXVEUHLWHQ ZUGH XQG GRUW ZR VLH KLQNDP GLH (YROXWLRQ ]XP 6WLOOVWDQGEUlFKWH )DOOV GLH QHJDWLYHQ .UlIWH GHU )LQVWHUQLV VLFK LQ HLQHP HLQ]LJHQ VHOEVWORVHQ :LOOHQVDNWIUGLHVHV=LHOHQWVFKLHGHQZUGHGLH=HURWUlXPHULQLKUH0DFKWEHU VLHYHUOLHUHQXQGDOOH'lPPHZUGHQEUHFKHQ ,UXQDVh%6().RQVWDQWHYHU]HKUWHVLFKIDVWY|OOLJLP.DPSIJHJHQGLHHLJHQH )XUFKW 'RFK VLH VFKDIIWH HV XQG EHUZDQG VLFK GD]X QLFKW QXU $UURJDQ] DXV]XVWUDKOHQVRQGHUQDXFKHLVNDOWHQ=\QLVPXV 9HUXQVLFKHUWKLHOWGDV(OHPHQWGHU)LQVWHUQLVLQQH 6HLQH QHJDWLYHQ .UlIWH GLH QDKH GDUDQ JHZHVHQ ZDUHQ VLFK LQ HLQHP JLJDQWLVFKHQ:LOOHQVDNW]XYHUHLQLJHQEHODXHUWHQVLFKSO|W]OLFKJHJHQVHLWLJ 6LHGLHGHQ*HVHW]HQGHV'VFKXQJHOVGHU8U]HLWYRUGHU6FK|SIXQJJHKRUFKWHQ LQ GHP 0DWHULH XQG $QWLPDWHULH ]HUIOHLVFKHQG YHUQLFKWHQG XQG ]HUVW|UHQG DXIHLQDQGHUJHSUDOOW ZDUHQ DUJZ|KQWHQ SO|W]OLFK GD GLH =HURWUlXPHULQ IURKORFNWH ZHLO VLH GDEHL ZDUHQ LKUH 5LYDOLWlWHQ ]X YHUJHVVHQ XQG GDPLW LKUH ]JHOORVHQ)UHLKHLWHQDXI]XJHEHQ :HQQ DEHU GLH =HURWUlXPHULQ GDUEHU IURKORFNWH PXWH LKU (QWVFKOX IDOVFK JHZHVHQVHLQ 3O|W]OLFK EUDFK 3DQLN XQWHU GHQ QHJDWLYHQ .UlIWHQ DXV 3DQLN GDYRU VLFK HLQHU 2UGQXQJ]XXQWHUZHUIHQGHUHQLQQHUH*HVHW]PlLJNHLWHQVLHXQZLGHUUXIOLFK]X 6NODYHQ HLQHU *HPHLQVDPNHLW PDFKHQ ZUGHQ DXV GHU VLH QLH ZLHGHU DXV]XEUHFKHQYHUPRFKWHQ 1LFKW PHKU GLH 6WlUNVWHQ ZUGHQ GHQ /|ZHQDQWHLO HLQHU %HXWH EHNRPPHQ VRQGHUQVLHZUGHJOHLFKPlLJDQDOOHYHUWHLOWZHUGHQ²DXFKGLH%HXWHDXVGHQ JHQWHFKQLVFKHQ +H[HQNFKHQ GHU *HQHWLVFKHQ $OOLDQ] GLH VSKlULVFKHQ /HEHQVHQHUJLHQGHU6DWDQVEUXW (LQH GHU QHJDWLYHQ .UlIWH KLHOW GLHVH 9RUVWHOOXQJ QLFKW PHKU DXV 6LH UDIIWH VRYLHO GHU LQ LKUHU 1lKH EHILQGOLFKHQ %HXWH ]XVDPPHQ ZLH VLH IHVW]XKDOWHQ YHUPRFKWH 6RIRUW JLQJHQ GLH EHQDFKEDUWHQ 1HJDWLYNUlIWH ]XP $QJULII EHU XP VLFK ]XUFN]XKROHQ ZDV LKQHQ LKUHU 0HLQXQJ QDFK ]XVWDQG ² XQG GDEHL JOHLFK DQ GHQ$QWHLOHQDQGHUHU]HUUHQGXPVLFKDXILKUH.RVWHQ]XEHUHLFKHUQ 'LH DEJUXQGWLHIH 'XQNHOKHLW GLH VLFK EHU GLH *DOD[LV GHU HKHPDOLJHQ *HQEUWHU DXVJHEUHLWHW KDWWH ZDOOWH EURGHOQG DXI DOV XQWHU GHQ 1HJDWLYNUlIWHQ GHU.DPSIDOOHUJHJHQDOOHPLWXQYRUVWHOOEDUHU:XFKWXQG:LOGKHLWDXVEUDFK (VZDUHLQHUEDUPXQJVORVHU.DPSIEHLGHPQLHPDQGVLFKHUVHLQNRQQWHGLHDQ VLFK JHUDIIWH %HXWH EHKDOWHQ ]X N|QQHQ 'LH 0HXWH ZDU ]X JUR GLH .RQNXUUHQWHQ ]X QDKH EHLHLQDQGHU ² XQG GLH (QJH OLH GLH $JJUHVVLRQHQ I|UPOLFKH[SORGLHUHQ 'D]X NDP GD GLH =HURWUlXPHULQ ZHLWHUKLQ :DFKH KLHOW XQG GLH YRQ LKU DXVVWUDKOHQGHHLVLJH.lOWHGLH)XUFKWDXINHLPHQOLHVLHZDUWHWHQXUGDUDXIGD GLH QHJDWLYHQ .UlIWH VLFK LP .DPSI XP GLH %HXWH VR VFKZlFKWHQ GD GLH =HURWUlXPHULQ QXU ]X]XSDFNHQ EUDXFKWH XP GLH EHVWHQ %URFNHQ DQ VLFK ]X

UDIIHQ (LQHXQHUWUlJOLFKH9RUVWHOOXQJ 8QG HV JDE QLFKWV ZDV VLFK GDJHJHQ WXQ OLH GHQQ GD GLH =HURWUlXPHULQ XQQDKEDUEOLHEYHUPRFKWHQGLHQHJDWLYHQ(OHPHQWHLKUQLFKWVDQ]XKDEHQ ,Q LKUHU 1RW HQWVDQQHQ VLH VLFK ZLHGHU LKUHV 8UVSUXQJV WLHI DP *UXQG GHU *HVHW]ORVHQ5HJLRQ'RUWZDUHQVLH]ZDU*HIDQJHQHJHZHVHQGLHGDUDXIZDUWHQ PXWHQ ELV MHPDQG LQ HLQHP VSH]LHOOHQ VHKU LQWHQVLYHQ =HURWUDXP ULHI DEHU GRUWKDWWHDXFKQLHPDQGGHVDQGHUHQ%HXWHDQWDVWHQN|QQHQ 1DFKXQGQDFKOLHHQGLHQHJDWLYHQ.UlIWHYRQHLQDQGHUDE=|JHUQGHUVWGDQQ LPPHUVFKQHOOHU]RJHQVLHVLFKLQ5LFKWXQJGHU*HVHW]ORVHQ5HJLRQ]XUFN'LH 'XQNHOKHLW EHU GHU *DOD[LV GHU HKHPDOLJHQ *HQEUWHU OLFKWHWH VLFK DXI GHQ HKHPDOV )LQVWHUHQ 3ODQHWHQ IOOWHQ VLFK GLH *UXEHQ GHU +H[HQNFKHQ PLW :DVVHU²XQGGLH6WUDKOXQJLKUHU6RQQHQHUZlUPWHHVXQGVHW]WH5HDNWLRQHQLQ *DQJ GLH GHU $QEHJLQQ HLQHU QDWUOLFKHQ (YROXWLRQ ZDUHQ GLH GHP 0RUDOLVFKHQ.RGHGHV8QLYHUVXPVJHKRUFKWH 0HKUPDOV PDFKWH GLH )LQVWHUQLV DXI LKUHP 5FN]XJ KDOW JHElUGHWH VLFK ZLOG XQG GURKHQG JHJHQEHU GHU =HURWUlXPHULQ XP VLH ]X HUVFKUHFNHQ XQG HLQ]XVFKFKWHUQGHQQVLHDOV%HXWHHLQ]XEULQJHQZlUHGHUJU|WH7ULXPSKDOOHU =HLWHQJHZHVHQ 'RFK ,UXQD YRQ %DVV7HWK ZDQNWH QLFKW 6LH KDWWH HUOHEW GD LKU :LOOH GDV (OHPHQWGHU)LQVWHUQLVEHQXW]WXQGGDQDFKLQVHLQH6FKUDQNHQJHZLHVHQKDWWH 6FKOLHOLFK VWU]WH VLFK DXFK GHU OHW]WH 5HVW GHU )LQVWHUQLV QDFK HLQHP OHW]WHQ $XIElXPHQ]XUFNLQGLH7LHIH*UXEHDXVGHUVLHJHNRPPHQZDU 'LH'XDOLWlWYRQ=HLWXQG5DXPVWDELOLVLHUWHVLFK 'HU.DPSIZDUEHHQGHWGLH*HIDKUEHVHLWLJW ,PVHOEHQ$XJHQEOLFNEUDFKGLH.UDIWYRQ,UXQDV%HZXWVHLQLQVLFK]XVDPPHQ 6LHVDQNDXVGHP=HURWUDXPLQLKUHQ.|USHU]XUFNRKQHGLH*HZDOWEHULKQ ZLHGHU]XHUODQJHQ 6LH NRQQWH 1HPHVLV QRFK DQZHLVHQ GXUFK GDV 6WHUQHQWRU 3WDK LQ 5LFKWXQJ =XNXQIW]XVWHLJHQGDQQILHOVLHLQGHQWLHIHQ6FKODIWRWDOHU(UVFK|SIXQJ 67(51(1.5,(* $OV,UXQDYRQ%DVV7HWKHUZDFKWHZDUHVGXQNHO 9RUVLFKWVKDOEHU UKUWH VLH VLFK QLFKW VRQGHUQ VWUHQJWH QXU LKU *HK|U DQ XP YLHOOHLFKWDXIGLHVH:HLVHKHUDXV]XILQGHQZRVLHZDU 'RFKHVEOLHEVWLOO.HLQHLQ]LJHU/DXWHUVFKROO $OOPlKOLFK DEHU O|VWH VLFK GLH 6FKODIWUXQNHQKHLW DXI GLH ,UXQDV %HZXWVHLQ QRFK XPIDQJHQ KDWWH (ULQQHUXQJHQ HUZDFKWHQ (V VFKLHQHQ (ULQQHUXQJHQ DQ HLQHQ$OSWUDXP]XVHLQ(UVWDOV,UXQDYHUVXFKWHVLFKLQHLQHP=HURWUDXPLQGHU ZHLWHUHQ8PJHEXQJLKUHV$XIHQWKDOWVRUWVXP]XVFKDXHQXQGDOVGLHVHU9HUVXFK GDUDQVFKHLWHUWHGDVLFKLKUSVLRQLVFKHV.UDIWUHVHUYRLUGDVGHU9HUVHW]XQJLQ =HURWUlXPH GLHQWH WRWDO HUVFK|SIW KDWWH EHJULII VLH GD GHU YHUPHLQWOLFKH $OSWUDXP:LUNOLFKNHLWJHZHVHQZDU 1DFKWUlJOLFK HUVFKDXGHUWH VLH EHL GHU 9RUVWHOOXQJ GD VLH GDV (OHPHQW GHU

)LQVWHUQLV JHUXIHQ XQG VLFK GDPLW GHU *HIDKU DXVJHVHW]W KDWWH YRQ LKP YHUVFKOXQJHQ]XZHUGHQ 6LHPRFKWHHVNDXPJODXEHQGDHVLKUJHOXQJHQZDUGLH)LQVWHUQLVLQ6FKDFK ]X KDOWHQ VLH ]X ]ZLQJHQ GLH JHQWHFKQLVFKHQ +H[HQNFKHQ GHU *HQHWLVFKHQ $OOLDQ]]XYHUQLFKWHQXQGVLFKDQVFKOLHHQGZLHGHULQLKUH*UXEHDP*UXQGGHU *HVHW]ORVHQ5HJLRQGHV8QLYHUVXPV]XUFN]X]LHKHQ $EHUGLH(ULQQHUXQJHQZXUGHQLPPHUNODUHUVRGD,UXQDQLFKWPHKUDQLKUHP (UIROJ]ZHLIHOQNRQQWH $QVFKOLHHQGPXWHVLHDXVGHP=HURWUDXPLQLKUHQ.|USHU]XUFNJHNHKUWXQG YRU(UVFK|SIXQJ]XVDPPHQJHEURFKHQVHLQ 'DUDQDOOHUGLQJVHULQQHUWHVLHVLFKQXUJDQ]XQGHXWOLFK 6LHNRQ]HQWULHUWHVLFKGDUDXINODUHUH9RUVWHOOXQJHQGDYRQLQLKU%HZXWVHLQ]X UXIHQ ² XQG GDEHL ILHO LKU HLQ GD VLH EHYRU GLH (UVFK|SIXQJ VLH HQGJOWLJ EHUPDQQWH 1HPHVLV DQJHZLHVHQ KDWWH GXUFK GDV 6WHUQHQWRU 3WDK LQ 5LFKWXQJ =XNXQIW]XVWHLJHQ 1HPHVLVGLH7LHIHQVSKlUH$VVXU+DWRQV ,UXQD VHW]WH VLFK DXI XQG WDVWHWH XPKHU 6LH IKOWH JODWWHQ DEHU DQJHQHKP ZDUPHQ%RGHQGHVVHQ2EHUIOlFKHHODVWLVFKZDU :LHGHU%RGHQLP,QQHUQGHU6SKlUH ³1HPHVLV" IOVWHUWH VLH ³1HPHVLVO :HQQ GX NDQQVW GDQQ DQWZRUWH PLU :R VLQGZLU²XQGZDUXPLVWHVGXQNHOXQGVWLOO" ³:LU VLQG EHU GHP 6WHUQHQWRU 3WDK LQ HLQHU =HLWOLQLH LQ GHU 3WDK YRQ GHU 6WHUQHQVWDGW $YDWDU XPJHEHQ LVW UDXQWH GLH HPRWLRQVORVH 6WLPPH GHU 7LHIHQVSKlUH ³8QG HV LVW GXQNHO XQG VWLOO ZHLO LFK DOOH PHLQH 6\VWHPH DEJHVFKDOWHW KDEH GDPLW ZLU QLFKW JHRUWHW ZHUGHQ 8P XQV KHUXP ZLPPHOW HV QlPOLFKYRQ.DPSIVFKLIIHQPLWKRFKZHUWLJHQ2UWXQJVV\VWHPHQ(VVFKHLQWDOV KlWWHPDQXQVKLHUEHUHLWVHUZDUWHW ,UXQDVDJWHQLFKWVRIRUWHWZDVGDUDXIVRQGHUQGDFKWHQDFK 'LH *HQHWLVFKH $OOLDQ] ZXWH QDWUOLFK OlQJVW GD LKUH JHQWHFKQLVFKHQ +H[HQNFKHQ LQ GHU *DOD[LV GHU )LQVWHUHQ 3ODQHWHQ ]HUVW|UW ZRUGHQ ZDUHQ (EHQVR QDWUOLFK ZDU HV GD LKUH +HUUVFKHU DXI 5DFKH VDQQHQ 'RFK ZRKHU NRQQWHQ VLH ZLVVHQ ZHU IU GLH =HUVW|UXQJ LKUHU 6DWDQVEUXWZHOWHQ YHUDQWZRUWOLFK ZDU" (V JDE NHLQH =HXJHQ GDIU GD VLH LP =HURWUDXP GDV (OHPHQW GHU )LQVWHUQLV JHUXIHQ XQG LKP GLH )LQVWHUHQ 3ODQHWHQ ]XP )UD YRUJHZRUIHQKDWWH $XHU GHP (OHPHQW GHU )LQVWHUQLV VHOEVW XQG GDV KDWWH VLFK LQ VHLQHQ 6FKOXSIZLQNHO]XUFNJH]RJHQ *HGHPWLJWXQGKDHUIOOW 'LH)LQVWHUQLVPXGHQ*HQYHUEUHFKHUQYHUUDWHQKDEHQGDLFKVLHULHIXQGGLH JHQ WHFKQLVFKH =HLWERPEH GLH WLHI LQ GHU 9HUJDQJHQKHLW WLFNWH GXUFK VLH HQWVFKlUIHQ OLH EHUOHJWH ,UXQD 'DPLW ZROOWH VLFK GLH %HVWLH DQ PLU UlFKHQ 'DVLVWORJLVFK 'RFKHWZDVDQGHUHVLVWZHQLJHUORJLVFK :LHNRQQWHGLH*HQHWLVFKH$OOLDQ]VR WLHILQGHU9HUJDQJHQKHLWEHUKDXSWLKUH

+H[HQNFKHQ LQVWDOOLHUHQ" %HKHUUVFKW VLH HWZD GDV *HKHLPQLV GHU =HLWYHUVHW]XQJ" 8QG ZHQQ KDW VLH HV VHOEVW HUJUQGHW RGHU GHP =HLWLPSHULXP JHVWRKOHQ" ,UXQD HULQQHUWH VLFK GDUDQ GD 1HPHVLV HUNOlUW KDWWH VLH KLHOWH HV IU XQZDKUVFKHLQOLFK GD GDV =HLWLPSHULXP GLH 0|JOLFNHLW EHVlH VR WLHI LQ GLH 9HUJDQJHQKHLW KLQDE]XWDXFKHQ XP GLH (QWVWHKXQJ GHU JHQWHFKQLVFKHQ +H[HQNFKHQ]XYHUKLQGHUQ (QWZHGHUKDWWHGLH6SKlUHGDV=HLWLPSHULXPXQWHUVFKlW]WRGHUGLH*HQHWLVFKH $OOLDQ] KDWWH GLH =HLWUHLVH VFKRQ YLHO IUKHU XQG EHVVHU EHKHUUVFKW DOV GDV =HLWLPSHULXP LKUH 3UDNWL]LHUXQJ DEHU QXU VXEWLO EHWULHEHQ VR GD LKQHQ HLJHQWOLFKQLHPDQGDXIGLH6FKOLFKHKlWWHNRPPHQN|QQHQ 'D,UXQDDXIGLHJHQWHFKQLVFKHQ+H[HQNFKHQJHVWRHQZDUXQGGDGXUFKGHQ $QIDQJMHQHV)DGHQVJHIXQGHQKDWWHGHULKUOHW]WHQ(QGHVGDVJU|WH*HKHLPQLV GHU*HQHWLVFKHQ$OOLDQ]YHUULHWPXWH=XIDOOJHZHVHQVHLQ =XIDOOHLQH9HUNHWWXQJYRQ8UVDFKHQXQG:LUNXQJHQGLHZHGHUJHZROOWQRFK YRUDXVVHKEDUZDUXQGGHVKDOEDXFKQLFKWYHUKLQGHUWZHUGHQNRQQWH (LQ VROFKHU =XIDOO PXWH ]X GHQ XQEHNDQQWHQ (LQIOVVHQ JHIKUW KDEHQ GLH $VVXU+DWRQ ZlKUHQG GHV 6WXU]HV GHU 6SKlUH GXUFK 3WDK YHUVFKZLQGHQ OLHHQ ²XQGGLHVHOEH9HUNHWWXQJYRQ8UVDFKHQXQG:LUNXQJHQNRQQWHGD]XJHIKUW KDEHQ GD GLH 6SKlUH VHKU YLHO WLHIHU LQ GLH 9HUJDQJHQKHLW VWU]WH DOV EHDEVLFKWLJW 0|JOLFKHUZHLVH ZDU GLH 6SKlUH LQ GHQ :LUNXQJVEHUHLFK HLQHV YRQ GHU *HQHWLVFKHQ$OOLDQ]GXUFKJHIKUWHQ=HLWH[SHULPHQWVJHUDWHQ ,UXQDOHJWHGHU6SKlUHLKUHhEHUOHJXQJHQGDU ³'DV NDQQ QLFKW DXVJHVFKORVVHQ ZHUGHQ HUZLGHUWH 1HPHVLV ³:HQQ HV VR LVW EHILQGHW VLFK $XVVXU+DWRQ P|JOLFKHUZHLVH LQ GHU *HZDOW GHU *HQHWLVFKHQ $OOLDQ]'DQQKlWWHQZLUGLH3IOLFKWLKQ]XEHIUHLHQ ³,KQ ]X EHIUHLHQ" HFKRWH ,UXQD ³:LH GHQQ ZHQQ HV XP XQV KHUXP YRQ IHLQGOLFKHQ 6FKLIIHQ ZLPPHOW" 6ROO LFK YLHOOHLFKW ZLHGHU GDV (OHPHQW GHU )LQVWHUQLV]X+LOIHUXIHQ" ³'D]X EHVWHKW NHLQH ]ZLQJHQGH 1RWZHQGLJNHLW 'HVKDOE UDWH LFK GDYRQ DE HQWJHJQHWH1HPHVLV ³,FKKlWWHHVDXFKQLFKWJHWDQVDJH,UXQDKHIWLJ³1LHZLHGHU ³,UJHQGZDQQ ZHUGHQ GLH )ORWWHQNRPPDQGHXUH GHU *HQHWLVFKHQ $OOLDQ] GLH *HGXOGYHUOLHUHQXQGLKUH6FKLIIHDE]LHKHQPHLQWH1HPHVLV³'DQQN|QQHQZLU ZLHGHUDNWLYZHUGHQXQGPLWGHU6XFKHQDFK$VVXU+DWRQEHJLQQHQ'DVLFKHLQ %HDXIWUDJWHU HLQHV .RVPRNUDWHQ QLFKW LQ HLQHP QRUPDOHQ *HIlQJQLV IHVWKDOWHQ OlWPWHVLFKGHU2UWVHLQHV 'LH6WLPPHEUDFKDE ³:DUXPVSULFKVWGXQLFKWZHLWHU"IUDJWH,UXQD³0HLQVWGXGHU*HJQHUN|QQWH XQVK|UHQ" ³$QVWHLJHQGH $NWLYLWlWHQ LP XOWUDKRFKIUHTXHQWHQ +\SHUHQHUJLHEHUHLFK PHOGHWH GLH 6SKlUH ³6LH NRPPHQ QLFKW YRQ GHQ 5DXPVFKLIIHQ ULQJV XP XQV VRQGHUQDQVFKHLQHQGDXVGHP6WHUQHQWRU3WDK

³:DVN|QQWHGDVVHLQ"IUDJWH,UXQD ³=XZHQLJ'DWHQJDE1HPHVLV]XUFN³$FKWXQJ'LH6FKLIIHGHU*HQHWLVFKHQ $OOLDQ] VFKHLQHQ GLH $NWLYLWlWHQ HEHQIDOOV JHRUWHW ]X KDEHQ 6LH VFKDOWHQ LKUH $QWULHEVV\VWHPHKRFK ,UXQDYRQ%DVV7HWKVWHOOWHHLQSDDUWDNWLVFKHhEHUOHJXQJHQDQGDQQIUDJWHVLH ³%HVWHKW QRFK LPPHU GLH *HIDKU GD ZLU YRQ GHQ 6FKLIIHQ GHU *HQHWLVFKHQ $OOLDQ]JHRUWHWZHUGHQ1HPHVLV" ³1HLQDQWZRUWHWHGLH6SKlUH³6LHKDEHQLKUHK\SHUHQHUJHWLVFKHQ7DVWVWUDKOHQ DXVQDKPVORVLQGDV3WDK%ODFN+ROHJHULFKWHW ³'DQQ VFKDOWH GHLQH 6\VWHPH ZLHGHU HLQ XQG EULQJH XQV VFKQHOOVWHQV YRQ KLHU IRUWIRUGHUWH,UXQD³:HJYRQ$YDWDUXQGZHJYRQGHP%ODFN+ROHLQGHP VLFK8QKHLO]XVDPPHQ]XEUDXHQVFKHLQW ³$EHU$VVXU+DWRQ"ZDQGWH1HPHVLVHLQ ³8PLKQNPPHUQZLUXQVVSlWHUZHKUWH,UXQDDE³$EHUGDVZHUGHQZLUQXU GDQQN|QQHQZHQQZLUXQVMHW]WLQ6LFKHUKHLWEULQJHQVRIRUW ³9HUVWDQGHQHUZLGHUWHGLH6SKlUH³$XVIKUXQJIROJW 6FKODJDUWLJ ZXUGH GLH ,QQHQZDQGXQJ KHOO XQG OLH ]DKOUHLFKH +RORELOGHU XQG 6\PEROJUXSSHQHUNHQQHQ $QLKQHQVDK,UXQDGDGLH6SKlUHPLWZDKQZLW]LJHQ:HUWHQEHVFKOHXQLJWHXQG VLFK YRP 6WHUQHQWRU 3WDK IRUWEHZHJWH $OOHUGLQJV ZUGH VLH HUVW GDQQ HLQH QHQQHQVZHUWH'LVWDQ]]ZLVFKHQGDV%ODFN+ROHXQGVLFKOHJHQN|QQHQZHQQVLH ]XPhEHUOLFKWIOXJDQJHVHW]WKDWWH 'DVJHVFKDKHLQHNQDSSH0LQXWHVSlWHU .XU] YRUKHU VDK ,UXQD QRFK ZLH HLQ SDDU K\SHUVFKQHOOH 7DVWVWUDKOHQ YRQ 6FKLIIHQGHU*HQHWLVFKHQ$OOLDQ]]XU6SKlUHKRFK]XFNWHQ,KUH5HIOH[HPXWHQ GHQ .RPPDQGDQWHQ GHU EHWUHIIHQGHQ 6FKLIIH YHUUDWHQ ZDV LKUH 2UWXQJ HUIDW KDWWH 'HQQRFK IROJWHQ GHQ 7DVWVWUDKOHQ NHLQH .DPSIVWUDKOHQ ZDV QXU EHGHXWHQ NRQQWH GD GLH )ORWWH GHU *HQHWLVFKHQ $OOLDQ] VLFK QLFKW PHKU IU GLH 6SKlUH LQWHUHVVLHUWH 2GHU QLHPDOV ZHJHQ LKU EHU GHP %ODFN +ROH JHZDUWHW KDWWH EHUOHJWH ,UXQD ZlKUHQGGLH1HPHVLVLQGHQ/LQHUUDXPJLQJ 5XQG KXQGHUW /LFKWMDKUH EHU GHP 3WDK%ODFN +ROH NHKUWH GLH 6SKlUH LQ GHQ 1RUPDOUDXP]XUFN $XIGHQ+RORELOGHUQXQGDQGHQZHFKVHOQGHQ6\PEROHQDXIGHU,QQHQZDQGXQJ HUNDQQWH ,UXQD GD EHU GHP %ODFN +ROH HLQ ZDKUHU 2UNDQ YRQ (QHUJLHHQWODGXQJHQWREWH ³:DVJHVFKLHKWGRUW"ZDQGWHVLHVLFKDQGLH6SKlUH ³(LQH5DXPVFKODFKWILQGHWVWDWWDQWZRUWHWH1HPHVLV³=ZHLJLJDQWLVFKH)ORWWHQ NlPSIHQJHJHQHLQDQGHU-HGHYHUIJWEHUYLHOH0LOOLRQHQ6FKLIIHXQGLQMHGHU 6HNXQGHH[SORGLHUHQ7DXVHQGHYRQLKQHQ ³'DV LVW :DKQVLQQ IOVWHUWH ,UXQD ³.DQQVW GX QLFKWV GDJHJHQ XQWHUQHKPHQ" 1RWIDOOVPXWGXGLH.RVPRNUDWHQEHQDFKULFKWLJHQGDPLWVLHHLQJUHLIHQ ³,FK KDEH HLQ ,QIRUPDWLRQVVLJQDO LQ GLH 7LHIH JHVDQGW HUNOlUWH 1HPHVLV ³'LH

.RVPRNUDWHQ ZHUGHQ HV HPSIDQJHQ XQG HUIDKUHQ GDGXUFK ZDV KLHU JHVFKLHKW ,FKVDJWHGLUDEHUVFKRQHLQPDOGDLKQHQHLQGLUHNWHV(LQJUHLIHQXQP|JOLFKLVW 6LH N|QQWHQ YRUEHXJHQGH 0DQDKPHQ HLQOHLWHQ GLH MHQH (QWZLFNOXQJVOLQLHQ VWRSSHQ GLH ]X GLHVHU 5DXPVFKODFKW IKUHQ 'D GLH 5DXPVFKODFKW MHGRFK VWDWWILQGHW KDEHQ VLH HV QLFKW JHWDQ :DKUVFKHLQOLFK PXWHQ GLH (QWZLFNOXQJVOLQLHQ XQEHUKUW EOHLEHQ ZHLO VRQVW QRFK YLHO JU|HUHU 6FKDGHQ DQJHULFKWHWZRUGHQZlUH ³1RFKJU|HUHU6FKDGHQ"IOVWHUWH,UXQDIDVVXQJVORV ³:HQQ LQ MHGHU 6HNXQGH 0LOOLRQHQ LQWHOOLJHQWHU :HVHQ VWHUEHQ LVW GLHVHU 6FKDGHQQLFKWJURJHQXJXPLKPYRU]XEHXJHQ" ³'LH .RVPRNUDWHQ GHQNHQ LQ Y|OOLJ DQGHUHQ 5HODWLRQHQ JDE 1HPHVLV ]X EHGHQNHQ ³,P JHVDPWHQ 1RUPDOXQLYHUVXP VWHUEHQ LQ HLQHU 1DQRVHNXQGH 7ULOOLDUGHQLQWHOOLJHQWHU:HVHQ'DJHJHQIDOOHQGLHGLHGRUWXQWHQXPNRPPHQ QLFKWLQV*HZLFKW ³,FKYHUPDJQLHPDOVVR]XGHQNHQHQWUVWHWHVLFK,UXQD²XQGVDKGRFKHLQ GDVLHDQGLH'HQNZHLVHGHU.RVPRNUDWHQQLFKWLKUH0DVWlEHDQOHJHQNRQQWH 9LHOH0LQXWHQODQJVDVLHUHJORVGDXQGVWDUUWHGLH,QQHQZDQGXQJGHU6SKlUH DQ GLH LKU GLH =HLFKHQ GHV 6FKUHFNHQV ]XVSLHOWH $EHU VLH VWDUUWH GXUFK VLH KLQGXUFK VR GD LKU HUVW PLW HLQLJHU 9HU]|JHUXQJ DXIILHO GD GLH (QHUJLHHQWODGXQJHQDXIJHK|UWKDWWHQ ³1HPHVLVULHIVLH³+DEHQGLH)ORWWHQVLFKJHJHQVHLWLJYHUQLFKWHW" ³1HLQ DQWZRUWHWH GLH 6SKlUH ³'LH HLQH )ORWWH ]RJ VLFK SO|W]OLFK PLW hEHUOLFKWJHVFKZLQGLJNHLWDXVGHP.DPSIJHELHWXQGDXVGHP%HUHLFKGHV%ODFN +ROHV ]XUFN $Q GHQ (QHUJLHDEGUFNHQ LKUHU 6FKLIIH LGHQWLIL]LHUWH LFK GLHVH )ORWWHDOVGLHGHU*HQHWLVFKHQ$OOLDQ] ³8QGZDVWDWGLHJHJQHULVFKH)ORWWH"EHJHKUWH,UXQD]XZLVVHQ ³6LH VWLH GHQ )OLHKHQGHQ QDFK DQWZRUHWH 1HPHVLV ³'DQQ DEHU VWRSSWH VLH SO|W]OLFK DE NHKUWH XP XQG VDPPHOWH VLFK EHU GHP 0LWWHOSXQNW GHV %ODFN +ROH .XU] GDUDXI EHVFKOHXQLJWH VLH PLW +|FKVWZHUWHQ XQG VWU]WH VLFK PLW DQQlKHUQG/LFKWJHVFKZLQGLJNHLWLQV$XJHGHVURWLHUHQGHQ%ODFN+ROH ³'LHVHV 9HUKDOWHQ LVW GRFK QLFKW QRUPDO VWHOOWH ,UXQD IHVW ³'LH HLQH )ORWWH IOLHKW YRP %ODFN +ROH ZHJ XQG GLH DQGHUH VWU]W VLFK KLQHLQ +DVW GX HLQH (UNOlUXQJGDIUGLHHLQLJHUPDHQORJLVFKNOLQJW" ³1XU HLQH 9HUPXWXQJ HUZLGHUWH GLH 6SKlUH ³6LH EDVLHUW GDUDXI GD GLH $NWLYLWlWHQ LP XOWUDKRFKIUHTXHQWHQ +\SHUHQHUJLHEHUHLFK VWDUN KRFKJHVFKQHOOW VLQGZlKUHQGVLHDP%HJLQQGHU5DXPVFKODFKWIDVWY|OOLJDEJHNOXQJHQZDUHQ 6LH VWHLJHQ EULJHQV ZHLWHU DQ ² XQG ]ZDU LPPHU VFKQHOOHU :HQQ GDV VR ZHLWHUJHKW EHUVWHLJW LKU (QHUJLHSRWHQWLDO LQ HWZD YLHU 0LQXWHQ GDV (QHUJLHSRWHQWLDO HLQHU JURHQ *DOD[LV ,FK PHLQH GDEHL LPPHU 3RWHQWLDOH LP XOWUDKRFKIUHTXHQWHQ +\SHUHQHUJLHEHUHLFK 1DFK PHLQHQ %HUHFKQXQJHQ VFKDXNHOWVLFKGDHWZDVDXIGDVGHP9HUVFKPHO]HQ]DKOUHLFKHU%ODFN+ROHVLP ,QQHUQYRQ0DWHULHTXHOOHQlKQHOW ³:DV" VFKULH ,UXQD ³'DQQ HQWZLFNHOW VLFK YLHOOHLFKW GLHVH JDQ]H *DOD[LV ]X HLQHU%RPEH1RWVWDUW1HPHVLV)OLHKHVRVFKQHOOGXNDQQVW

³$N]HSWLHUW HUZLGHUWH GLH 6SKlUH ³/DJH HUODXEW PLU GHQ (LQVDW] HLQHU =HUR 3ROXQJ,QHLQHU6HNXQGHZHUGHQZLUHLQH0LOOLRQ/LFKWMDKUHYRQGLHVHU*DOD[LV HQWIHUQWVHLQ 'LH ,QQHQZDQGXQJ GHU 6SKlUH ZXUGH GXQNHO XQG LP QlFKVWHQ 0RPHQW ZLHGHU KHOO ³=HUR3ROXQJIOVWHUWH,UXQDYRQ%DVV7HWKHUVFKWWHUW³0LWHLQHP:HUN]HXJ GHU.RVPRNUDWHQHUOHEWPDQLPPHUZLHGHUQHXHhEHUUDVFKXQJHQ6LQGZLUMHW]W WDWVlFKOLFKHLQH0LOOLRQ/LFKWMDKUHYRP6WHUQHQWRU3WDKHQWIHUQW" ³=LHPOLFK JHQDX DQWZRUWHWH 1HPHVLV ³,FK EDXH HLQ VSH]LHOOHV +RORIHOG DXI GDV GLH EHVRQGHUH $UW GHLQHU :DKUQHKPXQJHQ EHUFNVLFKWLJW ,Q LKP ZLUVW GX GLH *DOD[LV GHU *HQHWLVFKHQ $OOLDQ] VR VHKHQ ZLH VLH GRUW ZLUNOLFK LVW RKQH MHGH=HLWYHU]|JHUXQJ ³%HVRQGHUH $UW PHLQHU :DKUQHKPXQJHQ PXUPHOWH ,UXQD VHOEVWLURQLVFK ZlKUHQG VLH EHREDFKWHWH ZLH VLFK EHU HLQHU +lOIWH GHU ,QQHQZDQGXQJ HLQ +RORIHOG DXIEDXWH GDV GUHLGLPHQVLRQDO HLQHQ WLHIHQ $XVVFKQLWW GHV $OOV ]HLJWH XQGLQGHVVHQ0LWWHOSXQNWHLQHJURHIDVWH[DNWNXJHOI|UPLJH*DOD[LV³0HLQHU SULPLWLYHQ:DKUQHKPXQJHQPHLQVWGXZRKO 'DQDFKVFKZLHJVLH (V ZDU HLQ %LOG WLHIVWHQ )ULHGHQV GDV GLH .XJHOJDOD[LV ERW 'LHVH XQJHKHXHUOLFKH'LVNUHSDQ]LP9HUJOHLFK]XU:LUNOLFKNHLWZDUHUVFKUHFNHQG :LHYLHOH0LOOLRQHQ=LYLOLVDWLRQHQP|JHQLQGLHVHU*DOD[LVH[LVWLHUHQXQGQLFKW GDV JHULQJVWH YRQ GHP 9HUKlQJQLV DKQHQ GDV LQ ZHQLJHQ 0LQXWHQ EHU VLH KHUHLQEULFKW" IUDJWH VLFK ,UXQD 8QG LKUH $KQXQJVORVLJNHLW LVW VRJDU QRFK HLQH *QDGH ³.ULWLVFKHV 3RWHQWLDO LVW EHUVFKULWWHQ VDJWH 1HPHVLV VR HPRWLRQVORV ZLH LPPHU ,UXQD JODXEWH DQ NHLQHQ *RWW 'HQQRFK VDJWH VLH SO|W]OLFK YROOHU ,QEUXQVW HLQ *HEHW DXI GDV VLH LUJHQGZDQQ HLQPDO JHK|UW KDWWH ² XQG VLH ZQVFKWH VLFK YHU]ZHLIHOWJODXEHQ]XN|QQHQGDHVHUK|UWZXUGH ³'DVEHWUHIIHQGH3RWHQWLDOLVWDXI1XOOJHVXQNHQEHULFKWHWHGLH6SKlUH³.HLQH XQQDWUOLFKHQ$NWLYLWlWHQLPXOWUDKRFKIUHTXHQWHQ+\SHUHQHUJLHEHUHLFKPHKU ³'LH%RPEHLVWQLFKWKRFKJHJDQJHQVDJWH,UXQDWRQORVXQGRKQH%HJUHLIHQ ,PQlFKVWHQ0RPHQWKDWWHVLHGDV*HIKODOVJHU|QQHLKUGDV%OXWLQGHQ$GHUQ 'HQQ ULQJV XP GLH GUHLGLPHQVLRQDOH $EELOGXQJ GHU .XJHOJDOD[LV JDE HV SO|W]OLFK HLQHQ GDV *DQ]H XPIDVVHQGHQ 5LQJ DXV 'VWHUQLV GHU HLQHQ $XJHQEOLFNYRUKHUQLFKWH[LVWLHUWKDWWH ³'DV(OHPHQWGHU)LQVWHUQLVVWLH,UXQDHQWVHW]WKHUYRU³(VZLOOVLFKHLQIDFK GLHVH*DOD[LVHLQYHUOHLEHQ ³(V LVW EORH 6WDXEPDWHULH VWHOOWH GLH 6SKlUH IHVW ³(LQ GXQNOHU 5LQJ YRQ XQGXUFKVLFKWLJHU 6WDXEPDWHULH GHU VLFK DXHUKDOE GHU .XJHOJDOD[LV PDWHULDOLVLHUWKDW ³1LFKWGLH%HVWLH"IUDJWH,UXQDOHLVH ³1LFKWGLH%HVWLHEHVWlWLJWH1HPHVLV ³$EHU ZRKHU XQG ZLH NDP GLHVH JLJDQWLVFKH 0DVVH SO|W]OLFK KHU" IUDJWH GLH

=HURWUlXPHULQ³.DQQVWGXIHVWVWHOOHQ1HPHVLVREHLQHlTXLYDOHQWH0DVVHDXV GHU.XJHOJDOD[LVYHUVFKZXQGHQLVW" ³%HUHLWV JHVFKHKHQ DQWZRUWHWH GLH 6SKlUH ³1HJDWLY 'LH .XJHOJDOD[LV KDW NHLQH0DVVHYHUORUHQQLFKWDXIGLHVHU=HLWOLQLH ³:LH PHLQVW GX GDV" HUNXQGLJWH VLFK ,UXQD VWLUQUXQ]HOQG ³,UJHQGZRKHU PX GLH0DVVHJHNRPPHQVHLQ'XPHLQVWDXVGHU9HUJDQJHQKHLW"$EHUZLH" 6LHVHW]WHVLFKSO|W]OLFKNHU]HQJHUDGHDXI ³'LH $NWLYLWlWHQ LP XOWUDKRFKIUHTXHQWHQ+\SHUHQHUJLHEHUHLFKULHIVLH³.DQQ HVVHLQGDWLHILQGHU9HUJDQJHQKHLWHLQHGHP6WDXEULQJHQWVSUHFKHQGH0DVVH LQ XOWUDKRFKIUHTXHQWH +\SHUHQHUJLH XPJHZDQGHOW XQG VR GXUFK GDV 3WDK%ODFN +ROHDXIGLHVH=HLWOLQLHJHVFKLFNWZXUGH" ³0HLQH%HUHFKQXQJHQVSUHFKHQIUGLHVH0|JOLFKNHLWHUZLGHUWH1HPHVLV ³8QG]XZHOFKHP=ZHFN"IUDJWH,UXQDEHKDUUOLFKZHLWHU ³'DUEHU YHUPDJ LFK QXU ]X VSHNXOLHUHQ HUNOlUWH GLH 6SKlUH ³:HQQ GLH EHREDFKWHWH 5DXPVFKODFKW ]ZLVFKHQ )ORWWHQ GHU *HQHWLVFKHQ $OOLDQ] XQG GHV =HLWLPSHULXPV VWDWWIDQG GDQQ N|QQWH 6XSHUFRQWURO VHLQH 7UXSSHQ GXUFK HLQ 6\VWHP YRQ =HLWWXQQHOQ KHUDQJHIKUW KDEHQ GLH LQ GDV 6WHUQHQWRU 3WDK PQGHWHQ XQG YRQ GRUW GLH =HLWOLQLH ]XJlQJOLFK PDFKWHQ DXI GHU GLH 6WHUQHQVWDGW$YDWDULQYROOHU%OWHVWDQG ³8QG ZHQQ GLH *HQHWLVFKH $OOLDQ] GHP =HLWLPSHULXP KLQVLFKWOLFK YRQ =HLWPDQLSXODWLRQHQ VRZHLW YRUDXV ZDU ZLH HV GLH ([LVWHQ] GHU *DOD[LV GHU )LQVWHUHQ3ODQHWHQYHUPXWHQOlWKDWVLHGDVYRUDXVJHVHKHQXQGHLQHVHKUJURH 0DVVHLQXOWUDKRFKIUHTXHQWH+\SHUHQHUJLHWUDQVIRUPLHUWGLHVLHGDQQLQQHUKDOE GHV%ODFN+ROHVRVWDUNYHUGLFKWHWHGDVLHHLQHQ+\SHUVSUXQJYROOIKUWHXQGLQ )RUPGHV6WDXEULQJVDXHUKDOEGHU*DOD[LVPDWHULDOLVLHUHQOLHIKUWH,UXQDGLH 6SHNXODWLRQHQZHLWHU³,FKGHQNHGDGDGXUFKGLH=XJlQJHGHV=HLWLPSHULXPV ]XP6WHUQHQWRU3WDKIUDOOH=HLWHQEORFNLHUWZXUGHQ ³'DV LVW LQ VLFK ORJLVFK PHLQWH 1HPHVLV ³'LH *HQHWLVFKH $OOLDQ] KDW DOVR JHVLHJW ,KUH 6WHUQHQVWDGW $YDWDU GUIWH GHPQDFK QRFK H[LVWLHUHQ ,FK VFKODJH YRUZLUNHKUHQ]XLKU]XUFNXQGEHIUHLHQ$VVXU+DWRQ ³'DV DXFK 1HPHVLV© VWLPPWH ,UXQD ]X XQG VWDUUWH ZLH JHEDQQW DXI GLH KHOO VWUDKOHQGHNXJHOI|UPLJH6WHUQHQLQVHOPLWGHPZHLWHQ5LQJDXV6WDXEPDWHULH 8QGLKUZDUDOVKlWWHVLHGLHVHV%LOGQLFKW]XPHUVWHQPDOJHVHKHQ *$/$;,6,0$8)58+5 ³:DVLVWJHVFKHKHQ"IUDJWH,UXQDYRQ%DVV7HWKDOVGDVVSH]LHOOH+RORELOGXQG GLH $EELOGXQJ GHU 6WDXEULQJJDOD[LV HUORVFKHQ XQG NXU] GDUDXI DQ GHU ,QQHQIOlFKH GHU 6SKlUH ZLHGHU GLH NOHLQHQ +RORELOGHU XQG GLH ZHFKVHOQGHQ 6\PEROHDXIJHWDXFKWZDUHQXQGGHU=HURWUlXPHULQYHUULHWHQGDGLH1HPHVLV ZLHGHU EHU GHP 3WDK%ODFN +ROH VFKZHEWH XQG GD ULQJV XP GDV %ODFN +ROH GLH ]DKOUHLFKHQ 6RQQHQV\VWHPH VWDQGHQ GHUHQ *HVDPWKHLW DOV 6WHUQHQVWDGW $YDWDUEH]HLFKQHWZXUGH ³,FK KDEH XQV GHU (LQIDFKKHLW KDOEHU ZLHGHU PLW HLQHU =HURSROXQJ ]XUFNYHUVHW]WHUNOlUWHGLH6SKlUH³(VEHVWHKWNHLQH2UWXQJVJHIDKU

,P QlFKVWHQ 0RPHQW ZXUGH GLH 6SKlUH JOHLFK YRQ PHKUHUHQ 6HLWHQ DXV PLW VWDUNHQ+\SHUWDVWLPSXOVHQLOOXPLQLHUW ³.HLQH2UWXQJVJHIDKUVSRWWHWH,UXQD³:RKHUNRPPHQGLH7DVWLPSXOVH" ³9RQ 3ODQHWHQ GHU 6WHUQHQVWDGW DQWZRUWHWH 1HPHVLV ³$FKWXQJ HEHQ HUUHLFKW XQV HLQ +\SHUNRPVWUDKO PLW JHEQGHOWHQ ,PSXOVJUXSSHQ GHQHQ GDV (UNHQQXQJVVLJQDO $VVXU+DWRQ DXIJHVFKDOWHW LVW 'DV HUNOlUW DXFK ZDUXP ZLU JHRUWHWZXUGHQ'HU%HDXIWUDJWHHLQHV.RVPRNUDWHQKDWLQVHLQHU$XVUVWXQJHLQ *HUlW PLW GHP HU MHGHU]HLW GLH 3RVLWLRQ VHLQHU 7LHIHQVSKlUH IHVWVWHOOHQ NDQQ ZHQQVLHVLFKDXIGHUVHOEHQ=HLWOLQLHZLHHUEHILQGHW ³$KDVDJH,UXQD³,FKZLOOPLWLKPVSUHFKHQ ³'HU+\SHUNRPVWUDKOLVWDXIPLFKJHULFKWHWZDQGWH1HPHVLVHLQ ³,FK ELQ KLHU GLH %HDXIWUDJWH GHV .RVPRNUDWHQ +RUWDFK VWHOOWH ,UXQD IHVW ³-HGHQIDOOV VRODQJH $VVXU+DWRQ QLFKW DQ %RUG LVW )ROJOLFK QHKPH LFK GDV *HVSUlFKHQWJHJHQ ³$N]HSWLHUWHUZLGHUWHGLH6SKlUH ,Q GHU QlFKVWHQ 6HNXQGH ZXUGH ,UXQD JHJHQEHU HLQ OHEHQVJURHV XQG OHEHQVHFKW ZLUNHQGHV +ROR YRQ $VVXU+DWRQ SURML]LHUW (V VDK DXV DOV VWQGH GHU%HDXIWUDJWHYRULKU ³,FKELQIURKGLFKZLHGHU]XVHKHQ%DQVKHHURRPVDJWH$VVXU+DWRQ ³,FKKHLH,UXQDYRQ%DVV7HWKNRUULJLHUWHLKQGLH=HURWUlXPHULQ³,FKZXWH HV SO|W]OLFK DOV LFK PLW 1HPHVLV DXI GLH =HLWOLQLH JHULHW LQ GHU GLH *HQHWLVFKH $OOLDQ] QRFK LKUH JHQWHFKQLVFKHQ +H[HQNFKHQ LQ GHU *DOD[LV GHU )LQVWHUHQ 3ODQHWHQXQWHUKLHOW ³1HPHVLV" IUDJWH $VVXU+DWRQ XQG VHLQ PLWWOHUHV ]\NORSHQKDIWHV $XJH OHXFKWHWHGXQNHOURW ³6RQDQQWHLFKGLH6SKlUHHUNOlUWH,UXQD³$EHUGDVLVWXQZLFKWLJ'XKDVWGLH 6SKlUH PLW +LOIH GHLQHU $XVUVWXQJ HQWGHFNW ,OOXPLQLHUW ZXUGH VLH DEHU YRQ +\SHUWDVWLPSXOVHQ DXV GHU 6WHUQHQVWDGW $YDWDU %HGHXWHW GDV GD HV HLQH .RRSHUDWLRQ]ZLVFKHQGLUXQGGHU*HQHWLVFKHQ$OOLDQ]JLEW" $VVXU+DWRQODFKWHGU|KQHQGZXUGHDEHUVRIRUWZLHGHUHUQVW ³(V EHGHXWHW GD GLH *HQHWLVFKH $OOLDQ] QLFKW PHKU H[LVWLHUW VWHOOWH HU NODU ³$OV LFK ZlKUHQG GHV 6WXU]HV GHU 6SKlUH GXUFK GLH LP 3WDK%ODFN +ROH YHUGLFKWHWHQ =HLWOLQLHQ GXUFK HLQH 6H[WDGLP)DQJVFKDOWXQJ DXV GHU 6SKlUH HQWIHUQW XQG DXI GHU =HLWOLQLH IHVWJHKDOWHQ ZXUGH DXI GHU ZLU XQV MHW]W DOOH EHILQGHQKHUUVFKWHLQGHU*DOD[LV*HPSRUQRFKGLH*HQHWLVFKH$OOLDQ]PLWGHP *HQHWLVFKHQ5DWDQGHU6SLW]H ,FK ZXUGH JHIDQJHQJHQRPPHQ GXUFKJHWHVWHW XQG GDQDFK LQ HLQ K\SHUHQHUJHWLVFK JHVLFKHUWHV *HIlQJQLV JHVWHFNW 1DWUOLFK NRQQWH PLFK GDV QLFKW IHVWKDOWHQ GD]X KlWWH HV PLW HLQHP *LWWHU DXV 6H[WDGLPHQHUJLH JHVLFKHUW ZHUGHQPVVHQ ,FK HQWZLFK KHLPOLFK XQG EHZHJWH PLFK PLW DNWLYLHUWHP 6LFKWVFKXW] GXUFK $WDYDU%DOGHUNDQQWHLFKGDHVHLQHVWDUNH2SSRVLWLRQJHJHQGHQ*HQHWLVFKHQ 5DWJDE.RSIGHU2SSRVLWLRQZDU0DUSDQDXVGHP9RONGHU6FKRURQHQGDVGHQ EHUZLHJHQGHQ7HLOGHU%HY|ONHUXQJYRQ$YDWDUVWHOOWDEHUYRQGHU0LQGHUKHLW

GHU*HPSRUHQXQWHUGUFNWZXUGHGLHDXFKDOOH5DWVPLWJOLHGHUXQGGHQ'LUHNWRU GHU7UDQNDUKLHVWHOOWHQ ,FK QDKP .RQWDNW PLW 0DUSDQ DXI XQG NRQQWH GDQDFK DXFK PLW DQGHUHQ 2SSRVLWLRQVIKUHUQVSUHFKHQ6LHHUNOlUWHQPLUGDVLHHLQHQ8PVWXU]SODQWHQ GD DEHU GHU *HQHWLVFKH 5DW ]X PlFKWLJ ZDU ZHLO HU JHKHLPH =XJlQJH ]X DQGHUHQ=HLWOLQLHQEHVD 9RQHLQHUGLHVHU=HLWOLQLHQKROWHVLFKGHU5DWODXIHQGJHQWHFKQLVFKDXIEHUHLWHWHV 5RKPDWHULDO GDV EHUZLHJHQG DXI GHQ *HQWHFK,QGXVWULHZHOWHQ YHUHGHOW XQG GDQDFKGD]XYHUZHQGHWZXUGHgGSODQHWHQPLW7LHUXQG3IODQ]HQSRSXODWLRQHQ ]XYHUVHKHQGXUFKGLHGLHVH:HOWHQLGHDOH6LHGOXQJVZHOWHQZXUGHQ 'DVYHUVFKDIIWHGHU*HQHWLVFKHQ$OOLDQ]XQGGHP*HQHWLVFKHQ5DWHLQVRJURHV 0DDQ%HOLHEWKHLWXQWHUGHQ]DKOUHLFKHQ=LYLOLVDWLRQHQGLHVHU*DOD[LVGDLKUH 0DFKWIDVWXQHUVFKWWHUOLFKZXUGH ,QVJHKHLP DEHU IKUWHQ GLH (LQVDW]JUXSSHQ GHV *HQHWLVFKHQ 5DWHV JHQHWLVFKH 0DQLSXODWLRQHQGXUFKGLHDXIHLQHGUDVWLVFKH5HGX]LHUXQJGHU'LYHUVLWlWDOOHQ (UEJXWV DE]LHOWHQ (LQH JHZLVVH $QJOHLFKXQJ GHU *HQNRGHV GHU YHUVFKLHGHQHQ 9|ONHU LVW EHUHLWV HLQJHWUHWHQ VR GD GLHVH *DOD[LV HLQPDO YRQ HLQHP 9RON EHKHUUVFKWZHUGHQZLUGGHVVHQ6WlPPHDOOHPLWHLQDQGHUYHUZDQGWVLQG ³,VWGDVQLFKWHKHUHLQ9RUWHLODOVHLQ1DFKWHLO"HUNXQGLJWHVLFK,UXQD ³2EHUIOlFKOLFK EHWUDFKWHW MD HUZLGHUWH $VVXU+DWRQ ³$XI GLH 'DXHU JHVHKHQ N|QQWH VLFK HLQH VWDUNH 5HGX]LHUXQJ GHU JHQHWLVFKHQ 9HUVFKLHGHQKHLW NDWDVWURSKDO DXVZLUNHQ 'D GLH $QJOHLFKXQJ VR HUIROJW GD GLH (UEDQODJHQ RSWLPDO DQ GLH GHU]HLWLJHQ |NRORJLVFKHQ |NRQRPLVFKHQ XQG NOLPDWLVFKHQ %HGLQJXQJHQ DQJHSDW VLQG ZUGH GLH hEHUOHEHQVUDWH EHL HLQVFKQHLGHQGHQ %HGLQJXQJHQ VR NOHLQ VHLQ GD GLH hEHUOHEHQGHQ NHLQH QHXHQ 3RSXODWLRQHQ JUQGHQN|QQWHQ.XU]JHVDJW'DV/HEHQLQGLHVHU*DOD[LVZUGHEHUZLHJHQG HUO|VFKHQ 'D]XNRPPWQRFKGDGLH*HQHWLVFKH$OOLDQ]LKUHJHQHWLVFKHQ0DQLSXODWLRQHQ EHUHLWV DXI DQGHUH *DOD[LHQ DXVJHGHKQW KDW VR EHLVSLHOVZHLVH DXI GLH ZHLW HQWIHUQWH *DOD[LV 7RFK5DPHQQ XQG GLH HWZDV QlKHUH PLW GHU .DWDORJ %H]HLFKXQJ87ZRVLFKLQHLQHP6RQQHQV\VWHPQDPHQV7UDQDWDXIGHP 3ODQHWHQ/RWURQLQ]ZLVFKHQVFKRQHLQH=ZHLJVWHOOHGHU$OOLDQ]EHILQGHW ³1XQGHPDOOHPKDVWGXRIIHQVLFKWOLFKHLQ(QGHEHUHLWHWPHLQWH,UXQD³6RQVW N|QQWHQZLUKLHUQLFKWRIIHQPLWHLQDQGHUNRPPXQL]LHUHQ ³'X LUUVW ZLGHUVSUDFK $VVXU+DWRQ ³,FK ZDU QLFKW DXWRULVLHUW DNWLY HLQ]XJUHLIHQ $OOHUGLQJV IDQG LFK PLW PHLQHP +LOIVPLWWHOQ KHUDXV GD HV ]ZLVFKHQ GHP *HQHWLVFKHQ 5DW XQG 6XSHUFRQWURO YRP =HLWLPSHULXP HLQH 9HUVFKZ|UXQJJDE%HLGH6HLWHQZROOWHQHLQHQ6WHUQHQNULHJYRP=DXQEUHFKHQ XPGLHLQQHUH*HVFKORVVHQKHLWLKUHU,PSHULHQ]XVWlUNHQ$XHUGHPZXUGHHLQ $XVWDXVFK ZLVVHQVFKDIWOLFKHU (UJHEQLVVH YHUHLQEDUW VR GD GDV =HLWLPSHULXP JHQWHFKQLVFKH *HKHLPQLVVH ]XJHVSLHOW EHNDP ZlKUHQG GLH *HQHWLVFKH $OOLDQ] GLH=HLWOLQLHHUVFKORVVHQXQGIUVLHUHVHUYLHUWHUKLHOWZRVLHLKUHJHQWHFKQLVFKHQ +H[HQNFKHQGLH)LQVWHUHQ3ODQHWHQLQVWDOOLHUWH ³'DVZDUMD+RFKYHUUDWDXIEHLGHQ6HLWHQVWHOOWH,UXQDDQJHZLGHUWIHVW

³8QGGDVEUDFKWHVFKOLHOLFKVRZRKOGHQ*HQHWLVFKHQ5DWDOVDXFK6XSHUFRQWURO ]X )DOO VDJWH $VVXU+DWRQ ³,QGHP LFK GLH 2SSRVLWLRQ EHU GHQ +RFKYHUUDW LQIRUPLHUWH YHUVFKDIIWH LFK LKU GDV 0DWHULDO PLW GHP VLH GHQ *HQHWLVFKHQ 5DW EHL GHQ PHLVWHQ 9|ONHUQ GLHVHU *DOD[LV VR YHUKDW PDFKWH GD VLH GHVVHQ $EVHW]XQJXQWHUVWW]WHQ 0DUSDQ EUDFKWH VRJDU GDV 0HLVWHUVWFN IHUWLJ .RQWDNW PLW GHU 2SSRVLWLRQVIKUXQJ GHV =HLWLPSHULXPV DXI]XQHKPHQ XQG LKU VRYLHO ,QIRUPDWLRQHQ]X]XVSLHOHQGDVLH]XYHUVLFKWOLFKZDU6XSHUFRQWUROHQWPDFKWHQ ]X N|QQHQ XQG GHQ $EEDX YRQ 5RKVWRIIHQ DXI DQGHUHQ =HLWOLQLHQ DXI VROFKH :HOWHQEHVFKUlQNHQ]XODVVHQGLHXQEHVLHGHOWZDUHQXQGQLHPDOV=LYLOLVDWLRQHQ WUDJHQZUGHQ /HLGHUVFKDIIWHQGLH2SSRVLWLRQHQHVQLFKWGHQ$XVEUXFKGHV6WHUQHQNULHJV]X YHUKLQGHUQ(UNRVWHWHVHKUYLHOH2SIHU$QGHUHUVHLWVHUP|JOLFKWHQGLH.lPSIH HVGHQ2SSRVLWLRQHQGLH=HLWWXQQHO]ZLVFKHQGHU*HQHWLVFKHQ$OOLDQ]XQGGHP =HLWLPSHULXP ]X EORFNLHUHQ LQGHP VLH HLQH VHKU JURH 0DVVH LQ XOWUDKRFKIUHTXHQWH +\SHUHQHUJLH WUDQVIRUPLHUWH GLH VLH LQQHUKDOE GHV 3WDK %ODFN +ROHV VR VWDUN NRPSULPLHUWH GD VLH HLQHQ +\SHUVSUXQJ YROOIKUHQ XQG VLFK DXHUKDOE GHU *DOD[LV DOV GXQNOHU 6WDXEULQJ PDWHULDOLVLHUHQ NRQQWH 'HU 6SUXQJO|VWHGLH=HLWEORFNDGHLP3WDK%ODFN+ROHDXV 'LH EHU GHP %ODFN +ROH NlPSIHQGHQ IHLQGOLFKHQ )ORWWHQ ZXUGHQ NXU] YRUKHU EHUGLH%ORFNDGHLQIRUPLHUWZRUDXIKLQVLFKGLH)ORWWHGHU$OOLDQ]]XUFN]RJ ZlKUHQGGLH)ORWWHDXVGHP=HLWLPSHULXPVLFKLQV%ODFN+ROHVWU]WHXPQRFK YRUGHU%ORFNDGHLKUH=HLWWXQQHO]XHUUHLFKHQXQGQDFK+DXVH]XIOLHJHQ :lKUHQGGLHVHU9RUJlQJHGLHJURH.RQIXVLRQEHUGHQ*HQHWLVFKHQ5DWXQG VHLQH0DFKWLQVWUXPHQWHEUDFKWHVFKOXJGLH2SSRVLWLRQPLW+LOIHUHEHOOLHUHQGHU )ORWWHQYHUElQGHXQGGHUPDVVLYHQ8QWHUVWW]XQJYHUEQGHWHUDQGHUHU9|ONHU]X 'HU 8PVWXU] JLQJ VR JODWW EHU GLH %KQH GD .lPSIH JURHQ $XVPDHV YHUPLHGHQZHUGHQNRQQWHQ 'HUHKHPDOLJH2SSRVLWLRQVIKUHU0DUSDQKHUUVFKWMHW]WEHUGLHVH*DOD[LVGLH QDFKGHU0HKUKHLWLQ$YDWDUGHQ6FKRURQHQMHW]W6FKRURILQKHLW(UXQGVHLQ 6FKRURQDW JHQDQQWHV 'LUHNWRULXP ZHUGHQ GLH *HQWHFK,QGXVWULHZHOWHQ DXI GLH )XQNWLRQ UHGX]LHUHQ 1XW]SRSXODWLRQHQ IU QHXH 6LHGOXQJVZHOWHQ ]X VFKDIIHQ *HQHWLVFKH0DQLSXODWLRQDP(UEJXWYRQ,QWHOOLJHQ]HQZLUGHVQLFKWPHKUJHEHQ hEULJHQV HUIXKU LFK GD YRU GHU =HLWEORFNDGH GHV 3WDK%ODFN +ROH GLH ,QIRUPDWLRQ GXUFKNDP GD GLH JHQWHFKQLVFKHQ +H[HQNFKHQ GHU )LQVWHUHQ 3ODQHWHQ YRP (OHPHQW GHU )LQVWHUQLV DXV GHU *HVHW]ORVHQ 5HJLRQ ]HUWUPPHUW XQGDXVJHUDXEWZXUGHQ+DVWGXHLQH$KQXQJZHUGLH)LQVWHUQLVJHUXIHQKDEHQ N|QQWH,UXQD"(LJHQLQLWLDWLYHNDQQVLHQlPOLFKQLFKWHQWZLFNHOQ ³'DV ZDU LFK ² LQ HLQHP =HURWUDXP DQWZRUWHWH ,UXQD YRQ %DVV7HWK EHUHLW DOOH 9RUZUIH HLQ]XVWHFNHQ GLH LKU GHU %HDXIWUDJWH GHV .RVPRNUDWHQ +RUWDFK PDFKWH ³'DVZDUHLQ0HLVWHUVWFNOREWH$VVXU+DWRQVLH]XLKUHUhEHUUDVFKXQJ³'HU $XVIDOO GHU /LHIHUXQJHQ DQ JHQWHFKQLVFKHP 5RKPDWHULDO KDW HQWVFKHLGHQG ]XP 6WXU] GHV *HQHWLVFKHQ 5DWHV EHLJHWUDJHQ GHQQ HU NRQQWH SO|W]OLFK YLHOH

/LHIHUYHUSIOLFKWXQJHQ QLFKW PHKU HUIOOHQ %HVRQGHUV VWRO] ELQ LFK DXI GLFK DOOHUGLQJV ZHLO GX HV IHUWLJEUDFKWHVW GDV (OHPHQW GHU )LQVWHUQLV LP =DXP ]X KDOWHQ ³(VZDUQLFKWOHLFKWJDE,UXQD]X³1RFKHLQPDOP|FKWHLFKHLQVROFKHV5LVLNR QLFKWHLQJHKHQ ³'DVZLUVWGXDXFKNDXPPVVHQVDJWH$VVXU+DWRQ³,FKVRUJHQlPOLFKGDIU GD GX DXI GHLQH XUHLJHQH =HLWOLQLH ]XUFNJHEUDFKW ZLUVW 6REDOG PHLQH HQWVSUHFKHQGHQ1DFKIRUVFKXQJHQGHQHUKRIIWHQ(UIROJEULQJHQJHKWHVORV'X ZlUVW DXI GLHVHU =HLWOLQLH QlPOLFK GHLQHV /HEHQV QLFKW PHKU VLFKHU ,FK KDEH HUIDKUHQ GD HV HLQHP 7HLO GHV *HQHWLVFKHQ 5DWHV XQWHU GHU )KUXQJ GHU VNUXSHOORVHQ *HPSHQ%UGHU JHOXQJHQ LVW JHPHLQVDP PLW +XQGHUWWDXVHQGHQ YRQ $QKlQJHUQ XQG HLQHP )ORWWHQYHUEDQG DXV 6FKRURILQ ]X HQWNRPPHQ 6LH VROOHQ JHVFKZRUHQ KDEHQ DQ HLQHP 6DUOHQJRUW QDPHQV .D]]HQNDWW VHLQHU 6FKZHVWHU XQG HLQHU JHZLVVHQ ,UXQD YRQ %DVV7HWK JUDXVDPH 5DFKH IU GHQ 9HUOXVW GHU )LQVWHUHQ 3ODQHWHQ XQG GDV =HUEUHFKHQ GHU *HQHWLVFKHQ $OOLDQ] ]X EHQ %HYRU LFK PLW GLU VSUDFK DKQWH LFK QRFK QLFKW GD GLHVH ,UXQD YRQ %DVV7HWK LGHQWLVFK PLW GHU %DQVKHHURRP LVW DOV GLH LFK GLFK ]XHUVW NHQQHQOHUQWH DEHU MHW]WGDLFKHVZHLKDEHLFKGLH3IOLFKWGLFK]XEHVFKW]HQ ³,FK IUFKWH PLFK QLFKW HUNOlUWH ,UXQD³'HQQRFKZlUHLFKGLUGDQNEDUZHQQ GX PLU KHOIHQ ZUGHVW PLFK ZLHGHU ]X PLU VHOEVW XQG DXI PHLQH =HLWOLQLH ]XUFN]XILQGHQ 2EZRKO LFK QDWUOLFK PHLQH (UOHEQLVVH PLW GLU 1HPHVLV XQG PLWGHP(OHPHQWGHU)LQVWHUQLVQLFKWPLVVHQP|FKWH ³'X ZLUVW GLFK GDUDQ HULQQHUQ KRIIH LFK VDJWH 1HPHVLV ³'LH =HLW LVW HLQ /DE\ULQWKLQGHPYLHOH:HJHLQVLFKJHVFKORVVHQH.UHLVHVLQGDXIGHQHQVLFK PDQFKPDO:HVHQVHOEVWEHJHJQHQ ³'DQQPWHQVLHVLFKMDYRUKHUDXIJHVSDOWHQKDEHQULHI,UXQDVS|WWLVFKGHQQ VLHKLHOWGLH$XVVDJHGHU6SKlUHIUHLQHQ6FKHU] ³2GHU :HVHQ PWHQ VLFK ]XHUVW VHOEVW EHJHJQHQ XP VLFK IUKHU DXIJHVSDOWHQ ]X KDEHQ ZDUI $VVXU+DWRQ HLQ ³1HJDWLRQ GHU 1HJDWLRQ JHK|UW ]X GHQ 3KlQRPHQGHVVHQZDVZLU=HLWQHQQHQ ,UXQD HUZLGHUWH QLFKWV GDUDXI 6LH ZDU ZLHGHU HLQPDO VHKU QDFKGHQNOLFK JHZRUGHQ GHQQ VLH DKQWH GD PLW HLQHU 5FNNHKU DXI LKUH XUHLJHQH =HLWOLQLH OlQJVWQLFKWDOOHV]X(QGHVHLQZUGHZDVKLHUDQJHIDQJHQKDWWH1RFKZDUGHU .UHLVQLFKWJHVFKORVVHQ '(5.5,(**(*(1',(:, 1 6DUOHQJRUWZDUHLQ3DUDGLHV 2]HDQH EHGHFNWHQ PHKU DOV GLH +lOIWH GHU 3ODQHWHQREHUIOlFKH )HOVLJH ,QVHOQ UDJWHQ ZLH 5XLQHQ ]HUVW|UWHU 5LWWHUEXUJHQ VFKDXPXPNUlQ]W DXV GHQ :DVVHUQ VFKZDU]H9|JHOQLVWHWHQLQLKUHQ+|KOHQ $Q/DQG]RJHQVLFKZHLWHIODFKH6WUDQGHGDKLQEHGHFNWYRQVFKZDU]HP6DQG GHUPLW0\ULDGHQEXQWHU(GHOVWHLQHYHUPLVFKWZDUGLHLQ-DKUPLOOLRQHQLP6SLHO YRQ(EEHXQG)OXWJHVFKOLIIHQZRUGHQZDUHQ

'DKLQWHUHUVWUHFNWHQVLFKGVWHUH'VFKXQJHOLQGHQHQ]ZLVFKHQ*LIWVWUlXFKHUQ :UJHUWHSSLFKHQ 0DPEDEOXPHQ XQG XQWHU NQRUULJHQ %DXPNURQHQ DOOHUOHL *HWLHU KDXVWH GDV XQDEOlVVLJ GDPLW EHVFKlIWLJW ZDU VLFK JHJHQVHLWLJ XP]XEULQJHQ =DKOORVH NOHLQH XQG PLWWOHUH 6HHQ ODJHQ LQ GHQ 'VFKXQJHO KLQHLQJHVWUHXW ,Q LKQHQ OHEWHQ GLH 8QJHKHXHU GLH GLUHNW YRQ GHQHQ GHU 8U]HLW GHV 3ODQHWHQ DEVWDPPWHQ (V JDE DXFK 6PSIH DXI 6DUOHQJRUW $XV GHP VFKZDU]HQ )DXOEUHL LKUHU 2EHUIOlFKHQ UDJWHQ GLH ZHLHQ 5HOLNWH WRWHU %DXPVWlPPH ,Q LKQHQ OHEWHQ GLH 1DFKWPDKUH 7DJVEHU VFKOLHIHQ VLH DEHU QDFKWV ZHQQ GLH 0RQGH ]X VHKHQ ZDUHQ YHUOLHHQ VLH GLH KRKOHQ 6WDPPUXLQHQ ZDQGHOWHQ EHU GLH 6FKZLPPEOlWWHU GHU $DVSIODQ]HQ XQG GUDQJHQ LQ GLH 'VFKXQJHO HLQ XP YRU 7DJHVDQEUXFK PLW GHQ 6HHOHQ GHU .REROGH LQ LKUH 9HUVWHFNH ]XUFN]XNHKUHQ GLHVLHEHLP7DQ]DXIGHQ:UJHWHSSLFKHQEHUUDVFKWKDWWHQ 6LH EHUDXVFKWHQ VLFK DQ GHQ KLOIORVHQ 3V\FKHQ XQG IJWHQ LKQHQ LPPHU QHXH 4XDOHQ ]X :HQQ VLH HV ]X DUJ WULHEHQ NRQQWHQ GLH DP +LPPHO NUHLVHQGHQ 7RWHQNRSIGUDFKHQ GLH 6FKUHLH GHU JHTXlOWHQ 6HHOHQ K|UHQ XQG GDGXUFK GDV 9HUVWHFN GHU EHWUHIIHQGHQ 1DFKWPDKUH DXVPDFKHQ 'DQQ VWLHHQ VLH KHUDE EOLHVHQ )HXHUVWDXE EHU GLH HQWGHFNWHQ 9HUVWHFNH XQG SDFNWHQ GLH EOLQG KHUDXVVWUPHQGHQ0DKUHXPVLH]XHLQHP%UHL]X]HUNDXHQLQGHQVLHLKUH(LHU OHJWHQ :R GDV /DQG K|KHU DQVWLHJ ZXUGH HV WURFNHQHU 'DUEHU Z|OEWHQ VLFK GLH :DQGHUGQHQ YRQ 6DQGZVWHQ =ZLVFKHQ LKQHQ VWDQGHQ ZHLH 7UPH DXV XQ]HUVW|UEDUHQ6WDKOOHJLHUXQJHQ²XQGQLFKWQXULQGHQ:VWHQVRQGHUQDXFK LP 6DQG GHU 6WUDQGH ,Q LKQHQ VFKOLHIHQ GLH 7UlXPHU GLH VLFK QDFK LKUHU :HOW GLH6DUOHQJRUWQDQQWHQ 9RU ODQJHU =HLW ZDUHQ LKUH 9RUIDKUHQ 7LHUH JHZHVHQ GLH LQ GHQ 'VFKXQJHOQ JHOHEWKDWWHQ,KU/HEHQZDUHLQHLQ]LJHU.DPSIJHZHVHQGHQQHJDOREGLHURWH RGHUZHLH6RQQHDP+LPPHOVWDQGRGHUREHV1DFKWZDUXQGGLHJROGIDUEHQHQ 0RQGHYHUKHLXQJVYROOOHXFKWHWHQPXWHQVLHVLFKGHU$QJULIIHYRQ7LHUHQXQG 3IODQ]HQHUZHKUHQ 6FKODIIDQGHQVLHVRJXWZLHQLH 'RFKGHUJQDGHQORVHhEHUOHEHQVNDPSIIUGHQVLHN|USHUOLFKZHQLJHUJHUVWHW ZDUHQDOVGLHPHLVWHQDQGHUHQ7LHUHEHIOJHOWHGDV:DFKVWXPLKUHU*HKLUQHXQG UHJWH]X0XWDWLRQHQDQGLHVFKOLHOLFKHWZDVKHUYRUEUDFKWHQZDVGLHVH:HVHQ DOOHPDQGHUHQ/HEHQDXI6DUOHQJRUWEHUOHJHQPDFKWH 'LH .UDIW GHV =HURWUDXPV PLW GHP GLH EHZXW GHQNHQGHQ :HVHQ 0DFKW EHU DOOH DQGHUHQ /HEHZHVHQ LKUHU :HOW JHZDQQHQ XQG LKQHQ LKUHQ :LOOHQ DXI]ZDQJHQXQGGXUFKGLH6DUOHQJRUWIUVLH]XP3DUDGLHVZXUGH 0LW GLHVHU QHXHQ .UDIW JHZDQQHQ VLH GHQ hEHUOHEHQVNDPSI VFKXIHQ VLFK HLQH ZHLWH'LVWDQ]]XPWLHULVFKHQXQGSIODQ]OLFKHQ/HEHQOLHHQVLHHVVLFKVHOEVWDOV 2SIHU GDUEULQJHQ ² ]XHUVW QXU ]XU (UQlKUXQJ VSlWHU DEHU DXFK IU 6NODYHQGLHQVWHLQGHPVLH6PSIHWURFNHQOHJWHQ:lOGHUURGHWHQXQGGLHZHLWHQ 6WUDQGHXQGKRKHQ:VWHQVFKXIHQLQGHQHQNHLQ/HEHQPHKUH[LVWLHUHQGXUIWH

DXHUGHQ6DUOHQJRUW (LQ SDDU WDXVHQG -DKUH ODQJ XQWHUKLHOWHQ GLH 6DUOHQJRUW HLQH WHFKQLVFKH =LYLOLVDWLRQ 6LH EDXWHQ 6WlGWH XQG ,QGXVWULHNRPSOH[H HUULFKWHWHQ LKUH ZHLHQ 7UPHLQGHQHQVLHEDOGDPOLHEVWHQVFKOLHIHQXQGWUlXPWHQXQGVFKXIHQVLFK VWlKOHUQH (EHQELOGHU GLH IU VLH )DKU]HXJH EDXWHQ PLW GHQHQ GLH 6DUOHQJRUW ]XHUVW LKU HLJHQHV 6RQQHQV\VWHP HUIRUVFKWHQ XQG VLFK GDQDFK EHU GLH JDQ]H *DOD[LV1DU]HVFKDXVEUHLWHWHQ 6LH VWLHHQ DXI YLHOH DQGHUH =LYLOLVDWLRQHQ GLH VLFK LQ DOOHQ 6WDGLHQ GHU (QWZLFNOXQJ EHIDQGHQ YRQ %DUEDUHQZHOWHQ ELV KLQ ]X 6WHUQHQUHLFKHQ 0DQFKPDOJDEHV=XVDPPHQVW|HPLWGHQ9HUWUHWHUQNULHJHULVFKHU9|ONHUXQG PDQFKPDO ZXUGHQ GDEHL 6DUOHQJRUW JHW|WHW 'RFK OHW]WHQ (QGHVEOLHEHQLPPHU GLH 6DUOHQJRUW GLH 6LHJHU GHQQ VLH KDWWHQ GHQ XUDOWHQ .DPSIJHLVW JHHUEW GHQ LKUHWLHULVFKHQ9RUOlXIHUHQWZLFNHOWHQXPEHUOHEHQ]XN|QQHQ .ULHJZDUMHGRFKQLHPDOVHWZDVGDVGLH6DUOHQJRUWUHL]WHRGHUJDUEHJHLVWHUWH 6LHNlPSIWHQKDUWJQDGHQORVXQGVLHJUHLFKDEHUDXFKXQZLOOLJGHQQVLHZROOWHQ LKUH .UlIWH XQG LKU %OXW QLFKW GXUFK .ULHJH YHUJHXGHQ VRQGHUQ DXV GHP 9HUERUJHQHQKHUDXVKHUUVFKHQXQGPLWDQGHUHQ9|ONHUQVSLHOHQVRZLHVLHDXI 6DUOHQJRUW EHU GDV 7LHU XQG 3IODQ]HQUHLFK KHUUVFKWHQ XQG PLW LKUHQ $UWHQ VSLHOWHQ 6LHOHUQWHQDXVLKUHQZHLHQ7UPHQKHUDXVLP=HURWUDXPGLH*HVFKLFKWHYRQ ]DKOORVHQ :HOWHQ XQG 9|ONHUQ ]X EHVWLPPHQ .|USHUORV ZXUGHQ VLH ]X +HUUHQ EHU KXQGHUWIQI]LJ 0LOOLDUGHQ 6RQQHQ +HUUHQ EHU 5DXP XQG =HLW XQG ]X +HUUHQEHUGDV/HEHQYRQ%LOOLRQHQLQWHOOLJHQWHU:HVHQ $OVHVIUVLHLQ1DU]HVFKNHLQH2SIHUPHKUJDEGHQHQVLHLP=HURWUDXPLKUH VDQIWH+HUUVFKDIWDXI]ZLQJHQNRQQWHQVFKLFNWHQVLHLKUH6SlKVFKLIIHGXUFKGLH /HHUH GHV LQWHUJDODNWLVFKHQ 5DXPHV XQG OLHHQ VLH DQGHUH *DOD[LHQ XQG IHUQH 1HEHOFOXVWHUHUNXQGHQ 9RU DOOHP VXFKWHQ VLH QDFK 5LYDOHQ GLH VWDUN XQG NOXJ JHQXJ ZDUHQ XP LKUH HLJHQH 0DFKW ]X JHIlKUGHQ GHQQ OlQJVW ZDUHQ VLH YRQ 6SLHOOHLGHQVFKDIW HUJULIIHQZRUGHQXQGGHU6XFKWHUOHJHQLKUH6SLHOHVRZHLW]XWUHLEHQGDGLH HLJHQH([LVWHQ]JHIlKUGHWZDU ,KU+HUUVFKDIWVEHUHLFKGHKQWHVLFKXQHUPHOLFKDXVXQGVLHIKOWHQVLFKOlQJVW DOVGLH+HUUHQGHV8QLYHUVXPVGHQHQNHLQHDQGHUHQ,QWHOOLJHQ]HQDXIGLH'DXHU JHZDFKVHQZDUHQ (LQHV 7DJHV NHKUWHQ 6SlKVFKLIIH ]XUFN XQG EUDFKWHQ ,QIRUPDWLRQHQ EHU HLQH IHUQH EODXOHXFKWHQGH *DOD[LV EHU GLH ,QWHOOLJHQ]HQ KHUUVFKWHQ GLH VLFK GLH :L QQDQQWHQGLH8QEHVLHJEDUHQ 'DV ZDU HQGOLFK GLH +HUDXVIRUGHUXQJ QDFK GHU GLH =HURWUlXPHU VFKRQ VHLW bRQHQYHUJHEOLFKJHVXFKWKDWWHQ 'HU,QYDVLRQVSODQZXUGHJHERUHQXQGQDKP*HVWDOWDQ 'LHEHLGHQ:HVHQXQWHUVFKLHGHQVLFKlXHUOLFKNUDYRQHLQDQGHU 6LH VWDQGHQ LP .RPPDQGRUDXP GHV )HUQNDPSIVFKLIIVGDVGHQVWRO]HQ1DPHQ 6$5/(1*257 WUXJ XQG JHPHLQVDP PLW UXQG HLQHU 0LOOLRQ DQGHUHQ )HUQNDPSIVFKLIIHQ ]ZLVFKHQ GHU 3DUDGLHVZHOW XQG LKUHQ *ROGHQHQ 0RQGHQ LP

$OOVFKZHEWH 'DVHLQH:HVHQZDU]LUNDPJURVFKPlFKWLJXQGYRQNDONZHLHP7HLQW (VKDWWHNXU]H%HLQHGLHEHLGH$UPHZDUHQODQJXQGGLH+lQGHDFKWILQJULJ'HU IODFKHKDDUORVHDQHLQHQ=LHJHOVWHLQHULQQHUQGH.RSIVDDXI]ZHLNQRUSHOLJHQ KDQGODQJHQ +lOVHQ YRQ GHQHQ HLQHU GHU 1DKUXQJVDXIQDKPH GHU DQGHUH GHU $WPXQJGLHQWH5|WOLFKHULQJVXPGHQ.RSIYHUWHLOWH³)OHFNHQGLHQWHQDOV6HK +|U XQG 5LHFKRUJDQH =ZHL QHEHQHLQDQGHU OLHJHQGH OLSSHQORVH 0QGHU EHIDQGHQ VLFK DQ GHU 9RUGHUVHLWH GHV .RSIHV QXU GXUFK HLQ ILQJHUQDJHOJURHV .QRUSHOVWFNYRQHLQDQGHUJHWUHQQW'LH*HVWDOWZDUYRQ.RSIELV)XLQHLQHQ WUDQVSDUHQWHQ5DXPDQ]XJJHKOOW 'DV ]ZHLWH :HVHQ ZDU NQDSS ]ZHL 0HWHU JUR EL]DUU JHIRUPW XQG YRQ JROGHQHP 7HLQW (V KDWWH ]ZHL ODQJH UHODWLY GQQH DEHU GHQQRFK NUlIWLJ ZLUNHQGH %HLQH GLH EHLGHQ $UPH ZDUHQ VHKU ODQJ KDWWHQ MHZHLOV ]ZHL (OOHQERJHQJHOHQNH XQG MH HLQ +DQGJHOHQN 'LH +lQGH ZDUHQ DFKWILQJULJ XQG NRQQWHQEOLW]VFKQHOO]XSDFNHQ'HU5XPSIZDU]ZLVFKHQ8QWHUOHLEXQG%UXVWWHLO VWDUN HLQJHVFKQUW :lKUHQG GHU 8QWHUOHLE ]\OLQGULVFK JHIRUPW ZDU XQG VSLW] DXVOLHIZDUGHU%UXVWWHLOIODFKXQGKDWWHLQHWZDGLH)RUPZLH]ZHLDXVSXUHP *ROGJHKlPPHUWHWUDSH]I|UPLJH7DIHOQGLHPLWLKUHQEHLGHQOlQJVWHQ6HLWHQLQ HLQHU IDXVWGLFNHQ 1DKW YHUVFKPRO]HQ ZDUHQ GLH EHLGHQ ]ZHLWOlQJVWHQ 6HLWHQ DXVZlUWVJHVFKZXQJHQQDFKXQWHQJHULFKWHWXQGGLHGULWWOlQJVWHQ6HLWHQHLQZlUWV JHVFKZXQJHQ QDFK REHQ ZlKUHQG GLH NU]HVWHQ 6HLWHQ VFKQXUJHUDGH ZLH DEJHVFKQLWWHQH7UDJIOlFKHQQDFKDXHQZLHVHQ'HURYDOHQXUDXV.QRFKHQXQG VWUDII JHVSDQQWHU JROGHQHU +DXW EHVWHKHQGH .RSI VD PLW HLQHP NXU]HQ 'UHKJHOHQN DXI GHP REHUHQ (QGH GHU %UXVWQDKW =ZHL KDOENXJHOI|UPLJH $XVEXFKWXQJHQ UDJWHQ ]X EHLGHQ 6HLWHQ KHUDXV DXI LKQHQ ZDUHQ U|WOLFKH 6LQQHVIOHFNHQYHUWHLOW'HU0XQGEHVDVLQQOLFKYRUJHZ|OEWH/LSSHQXQGEHIDQG VLFK DP XQWHUHQ (QGH GHV .RSIHV $P REHUHQ (QGH EHVD GHU 6FKlGHO HLQHQ ]ZHLJHWHLOWHQ.QRFKHQNDPPGHULQ]ZHLJHVSUHL]WHGQQH³%OlWWHUDXVOLHIGLH DQ6lEHONOLQJHQHULQQHUWHQ$XFKGLHVH*HVWDOWZDUYRQ.RSIELV)XLQHLQHQ WUDQVSDUHQWHQ5DXPDQ]XJJHKOOW .HLQH)UHPGLQWHOOLJHQ]KlWWHDXFKQXUYHUPXWHWGLHEHLGHQVRXQWHUVFKLHGOLFKHQ :HVHQ N|QQWHQ GHUVHOEHQ 6SH]LHV RGHU DXFK QXU PLWHLQDQGHU YHUZDQGWHQ 6SH]LHVHQWVWDPPHQ 'HQQRFKZDUHVJHQDXVR %HLGH:HVHQJHK|UWHQ]XP9RONGHU6DUOHQJRUW0HKUQRFK6LHZDUHQVRHQJ PLWHLQDQGHUYHUZDQGWZLH/HEHZHVHQHVQXUVHLQNRQQWHQ 6LH HQWVWDPPWHQ GHPVHOEHQ (L GDV GUHLLJ -DKUH ODQJ LP 0XWWHUOHLE KHUDQJHZDFKVHQZDUZLHHVEHLDOOHQ6DUOHQJRUWVFKRQVHLWGHU=HLWZDUDOVVLH QRFK WLHUKDIW LQ GHQ 'VFKXQJHOQ OHEWHQ (LQHQ EHVVHUHQ 6FKXW] KlWWH HV IU .LQGHU QLFKW JHEHQ N|QQHQ LQ HLQHU P|UGHULVFKHQ 8PZHOW XQG DXFK NHLQHQ EHVVHUHQ6WDUWLQVKDUWH/HEHQGHQQDOVGLH0XWWHULQHLQHPOHW]WHQLQWHQVLYHQ 7UDXP LKUHQ *HLVW DXIJDE GD HQWVFKOSIWHQ GHP LQ]ZLVFKHQ GHQ JDQ]HQ 8QWHUOHLEIOOHQGHQ(L]ZHL6DUOHQJRUWGLH]ZDUQRFKQLFKWGLHYROOH*U|HYRQ (UZDFKVHQHQ EHVDHQ DEHU VFKRQ GLHVHOEH 6WlUNH GDV JOHLFKH JXWH

5HDNWLRQVYHUP|JHQGHQJOHLFKHQ.DPSIJHLVWGHQJOHLFKHQhEHUOHEHQVLQVWLQNW XQGDOOHVZDVGLH0XWWHUDQ:LVVHQXQG(UIDKUXQJHQEHVHVVHQKDWWH $PWDUGHU%UXGHU²XQG6KXVKWDUGLH6FKZHVWHU -HGHU 6DUOHQJRUW IKOWH DQ LKUHU DUWW\SLVFKHQ $XVVWUDKOXQJ GD VLH %UXGHU XQG 6FKZHVWHU ZDUHQ GLH LP VHOEHQ (L KHUDQJHZDFKVHQ XQG VHLWGHP GXUFK HLQ XQVLFKWEDUHV XQG XQ]HUUHLEDUHV SDUDSV\FKLVFKHV %DQG PLWHLQDQGHU YHUEXQGHQ ZDUHQGDVHUVWGHU7RG]HUVW|UHQNRQQWH²XQGDXFKQXUGDQQZHQQHUDEVROXW ZDU ³'LH ,QYDVLRQ GHU %ODXHQ *DOD[LV ZLUG GLH JU|WH 7DW VHLQ GLH XQVHU 9RON MHPDOV YROOEUDFKWH VDJWH $PWDU PLW GHU IU PlQQOLFKH 6DUOHQJRUW W\SLVFKHQ KHOOHQ6WLPPH ³8QG GHU .ULHJ JHJHQ GLH :L Q GHU EOXWLJVWH .ULHJ XQVHUHU *HVFKLFKWH HUZLGHUWH6KXVKWDU ³.ULHJ ULHI $PWDU XQZLOOLJ ³(V ZLUG NHLQ .ULHJ VHLQ VRQGHUQ HLQH ,QEHVLW]QDKPH6FKZHVWHUEOXW ³,FK ZHL QLFKW %UXGHUEOXW VDJWH 6KXVKWDU VFKZHUPWLJ ³'LH QHXQ]LJ :L Q GLHPLWLKUHP5DXPVFKLIIYRQXQVHUHQ(UNXQGHUQHLQJHIDQJHQZXUGHQHUZLHVHQ VLFKDOVGLHKlUWHVWHQ,QWHOOLJHQ]HQGLHZLUMHDQWUDIHQ(VGDXHUWHPHKUDOVHLQ -DKU XP LKUHQ PHQWDOHQ :LGHUVWDQG ]X EUHFKHQ XQG VLH UHLI IU GLH /HQNXQJ GXUFK =HURWUlXPHU ]X PDFKHQ ² XQG GDQQOHEWHQVLHQLFKWPHKUODQJHJHQXJ DOV GD ZLU GLH WLHIVWHQ 7LHIHQ LKUHU %HZXWVHLQH DXVORWHQ XQG LKQHQ ,QIRUPDWLRQHQ EHU GLH 0DFKW XQG GLH .UDIW LKUHV ,PSHULXPV HQWUHLHQ NRQQWHQ ³(VZDUHLQEHGDXHUOLFKHU8QIDOOGHUGDV6FKLIIH[SORGLHUHQOLHGDVVLHYRQGHU 4XDUDQWlQHZHOW5XJQDUKLHUKHUQDFK6DUOHQJRUWEHUIKUHQVROOWH ³(VZDULKU6FKLIIHLQ6FKLIIGHU:L QVDJWH6KXVKWDUEHGHXWXQJVYROO ³$EHU HV ZXUGH YRQ HLQHU 0DQQVFKDIW DXV 6DUOHQJRUW JHIKUW XQG GLH *HIDQJHQHQZDUHQJHIHVVHOWLQ.DELQHQXQWHUJHEUDFKWGLHYRQVDUOHQJRUWLVFKHQ 3URMHNWRUHQ LQ (QHUJLHVFKLUPH JHKOOW ZXUGHQ ZHKUWH $PWDU GLH XQDXVJHVSURFKHQHQ9HUPXWXQJHQVHLQHU6FKZHVWHUDE³'HU0$05HDNWRUGHV 6FKLIIHV EH]LHKXQJVZHLVH VHLQH 1XOOIHOG3URMHNWRUHQYHUVDJWHQVRGD0DWHULH XQG$QWLPDWHULHPLWHLQDQGHUUHDJLHUHQNRQQWHQ ³'HQQRFK KDEH LFK HLQ XQJXWHV *HIKO XQG HLQH $KQXQJ EHYRUVWHKHQGHQ 8QKHLOV ZDQGWH 6KXVKWDU HLQ ³9LHOOHLFKW QXU GHVZHJHQ ZHLO XQVHU :LVVHQ EHUGLH:L QVRJHULQJLVW ³'DUXP LVW XQVHUH ,QYDVLRQVIORWWH GLHVPDO VRYLHO JU|HU DOV IUKHUH ,QYDVLRQVIORWWHQ VDJWH $PWDU EHVFKZLFKWLJHQG ³'DUXP DXFK JHK|UHQ LKU IDVW WDXVHQGPDOPHKU6DUOHQJRUWDQDOVMH]XYRUXQGGDUXPVWRHQZLUQLFKWGLUHNW LQ GLH %ODXH *DOD[LV KLQHLQ VRQGHUQ VFKZlUPHQ LP .DOR XQG DQ GHQ 5lQGHUQ GHU JDODNWLVFKHQ (EHQH DXV XQG ZHUGHQ DXV GLHVHQ 3RVLWLRQHQ GLH :L Q LP =HURWUDXPEHUUXPSHOQ 6HLQH+lQGHJOLWWHQ]lUWOLFKEHUGLH6LQQHVRUJDQHVHLQHU%OXWVFKZHVWHU ³8QGGDUXPNRPPDQGLHUHQZLUEHLGHGDV)ODJJVFKLIIGLH6$5/(1*257ZLU GLH IlKLJVWHQ =HURWUlXPHU XQVHUHV 9RONHV 'HU 6LHJ LVW XQVHU 6KXVKWDU =HLW

]XP$XIEUXFK,FKJHEHGDV6LJQDO 6KXVKWDU HUZLGHUWH GLH EOXWJHVFKZLVWHUOLFKH *HVWH GHU =XQHLJXQJ LQGHP VLH LKUHUVHLWVPLWGHQ+lQGHQGLFKWEHUGLH6LQQHVIOHFNHLKUHV%UXGHUVJOLWW ³'HU 6LHJ LVW XQVHU VDJWH VLH PLW LKUHU IU ZHLEOLFKH 6DUOHQJRUW W\SLVFKHQ GXQNOHQ 6WLPPH GHUHQ LQGLYLGXHOOH .ODQJIDUEHDOOHPlQQOLFKHQ6DUOHQJRUWXP GHQ9HUVWDQGEUDFKWHZLHEHKDXSWHWZXUGHDXHULKUHQ%UXGHUQDWUOLFK ,UJHQGZDQQZUGH6KXVKWDUGLHVHV/RFNPLWWHOHLQVHW]HQXPVLFKHLQHQ3DUWQHU ]X VXFKHQ PLW GHP VLH VLFK YHUHLQLJWH XP VHLQH XQG LKUH *HQH LKUHQ .LQGHUJHVFKZLVWHUQ]XYHUHUEHQ'RFKVRZHLWZDUHVQRFKODQJHQLFKW6KXKVWDU KDWWHQRFKYLHOH$XIJDEHQ]XHUIOOHQXPGLH*U|HXQGGHQ5XKP6DUOHQJRUWV ]XHUK|KHQXQGLKUZDUQRFKQLHHLQPlQQOLFKHU6DUOHQJRUWEHJHJQHWGHQVLH VLFKDOV*DWWHQKlWWHDXVHUZlKOHQP|JHQ 'DUDQ GDFKWH VLH MHGRFK QXU IOFKWLJ ZlKUHQG GLH JLJDQWLVFKH ,QYDVLRQVIORWWH VLFK LQ %HZHJXQJ VHW]WH GDV 6\VWHP GHU 'RSSHOVRQQH YHUOLH XQG LP LQWHUVWHOODUHQ5DXP]XP'LPHWUDQVIOXJDQVHW]WHXPLQNU]HVWHU=HLWGLH%ODXH *DOD[LV]XHUUHLFKHQ +DXSWVlFKOLFKGDFKWHGLH6DUOHQJRUWDQHLQHQLQQHUHQ7UDXPGHQVLHYRUHLQLJHU =HLWJHKDEWKDWWH(LQLQQHUHU7UDXPZDUHWZDVY|OOLJDQGHUHVDOVHLQ=HURWUDXP (U ZXUGH QLFKW YRP %HZXWVHLQ JHVWHXHUW VRQGHUQ YRP 8QWHUEHZXWVHLQ XQG ZDU WHLOZHLVH HLQ 1LHGHUVFKODJ YRQ 6SH]LHV(UIDKUXQJHQ DXV bRQHQ XQG WHLOZHLVHHLQH4XDVL3UlNRJQLWLRQGLHDXIGHUXQWHUEHZXWHQ9HUDUEHLWXQJYRQ $KQXQJHQEHUXKHQVROOWH 8QG LQ GLHVHP LQQHUHQ 7UDXP KDWWH 6KXVKWDU EHUGHXWOLFK HLQHQ YHU]ZHLIHOWHQ 6FKUHLLKUHV%UXGHUVJHK|UW ,FKNRPPHZLHGHU 'DQDFK ZDU LKU %UXGHU YRQ HWZDV )LQVWHUHP YHUVFKOXQJHQ ZRUGHQ EHL GHVVHQ 7UDXPYRUVWHOOXQJ6KXVKWDUPLWHLQHP7RGHVVW|KQHQDXVGHP6FKODIJHVFKUHFNW ZDU 0LWHLQHP7RGHVVW|KQHQ .HLQH6DUOHQJRUWVW|KQWHMHPDOVVRHVVHLGHQQLQGHPOHW]WHQLQWHQVLYHQ7UDXP LQGHPVLHLKUHQ*HLVWDXIJDEXQGGDV(L]HUVSUDQJXP%UXGHUXQG6FKZHVWHU LQV$XHQOHEHQ]XHQWODVVHQ 6KXVKWDU ZXUGH QLFKW GDPLW IHUWLJ 6LH YHUVXFKWH VLFK ZLHGHU XQG ZLHGHU HLQ]XUHGHQGDVLHVLFKLKU7RGHVVW|KQHQQXUHLQJHELOGHWKDWWHXQGGRFKZXWH VLHGDHV7DWVDFKHJHZHVHQZDU 8QG VLH ZXWH LQWXLWLY GD VLFK 8QKHLO EHU GHP 9RON GHU 6DUOHQJRUW ]XVDPPHQEUDXWHXQGGDHVVFKRQMHW]WYHUORUHQZDU 'RFKDOV6FKZHVWHUGHVVWlUNVWHQ=HURWUlXPHUVXQG/HQNHUVGHU,QYDVLRQVIORWWH GXUIWHVLHGDVQLHPDOVDXVVSUHFKHQ 5XQG HLQH 0LOOLRQ JLJDQWLVFKHU .DPSIVFKLIIH YHUOLHHQ GLH 6H[WDGLP+DOEVSXU XQGNHKUWHQJHQDXQDFKGHPJHQLDOHQ3ODQ$PWDUVLQGHQ1RUPDOUDXP]XUFN DQGHQVWUDWHJLVFKRSWLPDOHQ3RVLWLRQHQLP+DORGHU%ODXHQ*DOD[LVGHUREHU XQG XQWHUKDOE GHU JDODNWLVFKHQ (EHQH KDOENXJHOI|UPLJ ZHLW LQ GHQ /HHUDXP UDJWH XQG GDV 0HGLXP GHU .XJHOVWHUQKDXIHQ ZDU ² XQG ULQJVXP DQ GHQ

5lQGHUQGHUJDODNWLVFKHQ(EHQHDXVGHUGLH]HUIDVHUWHQ6SLW]HQGHU6WHUQXQG 6WDXEVSLUDOHQ]QJHOWHQ $XV GHP )ODJJVFKLII MDJWH GDV $QJULIIVVLJQDO DQ DOOH 6DUOHQJRUW LQ GHQ .DPSIVFKLIIHQ 1HKPWVLHLQ%HVLW] 0LOOLRQHQXQGDEHU0LOOLRQHQ6DUOHQJRUWYHUVHW]WHQVLFKLQLKUH=HURWUlXPHXP VLFKGDUDXI]XNRQ]HQWULHUHQGLH%HZXWVHLQHGHU:L QLQ%HVLW]]XQHKPHQ 6LHEHIDQGHQVLFKQRFKLQLKUHQ6FKLIIHQDEHUVLHZDUHQJHLVWLJDEZHVHQG 1XUGLH2UWXQJVVHQVRUHQZDFKWHQEHULKUH6LFKHUKHLW 6LHUHJLVWULHUWHQ]XVSlWGDGHU*HJHQDQJULIIVFKRQEHJRQQHQKDWWH .HLQ6DUOHQJRUWKDWWHPLWGLHVHU0|JOLFKNHLWJHUHFKQHWZHLOGLH,QIRUPDWLRQHQ EHUGLH:L Q]XVSlUOLFKZDUHQ 1LHPDQGKDWWHJHDKQWGDGLH*HVDPWKHLWGHU%ODXHQ*DOD[LVGLH6WHUQXQG 6WDXEVSLUDOHQGHUJDODNWLVFKHQ(EHQHVRZRKODOVDXFKGLH.XJHOVWHUQKDXIHQGHV .DORVEHUXQGXQWHUGHU(EHQHXQXPVFKUlQNWHU%HVLW]GHU:L QZDUHQ (EHQVRZHQLJ KDWWHQ GLH 6DUOHQJRUW JHZXW GD GLH :L Q GXUFK HLQHQ LQWHUJDODNWLVFKHQ .ULHJ GHQ VLH EHU YLHOH -DKUKXQGHUWH KLQZHJ JHJHQ HLQHQ PlFKWLJHQ )HLQG JHIKUW KDWWHQ NDPSIHUSUREW XQG PLW WHFKQLVFKHQ .DPSIPLWWHOQDXVJHUVWHWZDUHQGHQHQVWlUNHUH*HJQHUDOVGLH7UlXPHUQLFKWV *OHLFKZHUWLJHVHQWJHJHQ]XVHW]HQJHKDEWKlWWHQ 9RUDOOHPDEHUKDWWHQGLH6DUOHQJRUWQLFKWGDPLWJHUHFKQHWGDLKQHQVHHOHQORVH )HLQGH JHJHQEHUWUHWHQ ZUGHQ JLJDQWLVFKH 0DVFKLQHQ GLH QXU IU GHQ .ULHJ HUEDXWXQGSURJUDPPLHUWZDUHQXQGGHQHQPLWNHLQHP=HURWUDXPEHL]XNRPPHQ ZDU 'LHVH:lFKWHUHQWGHFNWHQGLH,QYDVLRQVIORWWHLQGHP0RPHQWLQGHPVLHLQGHQ 1RUPDOUDXP]XUFNVWU]WH 8QGVLHJULIIHQDQZlKUHQGGLH6DUOHQJRUWLKUHQ7UDXPYRQGHU,QEHVLW]QDKPH GHU%ODXHQ*DOD[LVXQGGHU:L Q]XWUlXPHQEHJRQQHQKDWWHQ 1XU ZHQLJH 6DUOHQJRUW HUZDFKWHQ DXV LKUHP =HURWUDXP 'LH PHLVWHQ VWDUEHQ WUlXPHQGPLWLKUHQ6FKLIIHQ %LV DXI GDV )ODJJVFKLII GDV DOV HLQ]LJHV PLW GHP QHXHQWZLFNHOWHQ 0ROHNXODUJHKLUQDXVSDUDOOHOJHVFKDOWHWHQ6\QWKRLQWHOOLJHQ]HQDXVJHVWDWWHWZDU (VHUNDQQWHGLH*HIDKUUHFKW]HLWLJXQGHVUHDJLHUWHPLWGHUHLQ]LJHQORJLVFKHQ (QWVFKHLGXQJGDUDXIGHU(QWVFKHLGXQJ]XU)OXFKW $PWDU XQG 6KXVKWDU ZXUGHQ LP DOOHUOHW]WHQ 0RPHQW DXV LKUHQ =HURWUlXPHQ JHULVVHQ EHYRU GLH 6$5/(1*257 VLFK LQ GLH 6H[WDGLP+DOEVSXU HLQIlGHOWH VRQVWZlUHQLKUH%HZXWVHLQHYHUORUHQJHZHVHQ 6LH IDQGHQ NDXP =HLW JHQXJ XP VLFK SV\FKLVFK ]X VWDELOLVLHUHQ XQG YRP 0ROHNXODUJHKLUQ GLH JUDXVDPH :DKUKHLW ]X HUIDKUHQ GD NHKUWH LKU 6FKLII DXFK VFKRQQDKHGHU'RSSHOVRQQHGHV+HLPDWV\VWHPVLQGHQ1RUPDOUDXP]XUFN :lKUHQG GDV 6FKLII DXI VFKQHOOVWHP :HJ ]XU +HLPDWZHOW ]XUFNIORJ JDEHQ $PWDUXQG6KXVKWDUEHU'DNNDUNRP$ODUPIUGLH*DOD[LV1DU]HVFKGDPLWGHU :LGHUVWDQG RUJDQLVLHUW ZHUGHQ NRQQWH IU GHQ )DOO GD GLH :L Q LKUHQ *HJHQDQJULIIELVLQGLH*DOD[LVGHU7UlXPHUYRUWUXJHQ

$EHUGDV9HUKlQJQLVKDWWHVFKRQVHLQHQ/DXIJHQRPPHQ .DXP ZDU GLH 6$5/(1*257 DXI GHU +HLPDWZHOW JHODQGHW ILHOHQ GLH 3DWURXLOOHQ GHU :L Q JOHLFK +HXVFKUHFNHQVFKZlUPHQ EHU 1DU]HVFK KHU 0LOOLRQHQ XQG DEHU 0LOOLRQHQ VFKQHOOHU VFKZHUEHZDIIQHWHU 5DXPVFKLIIH PLW HLQHU 7HFKQLN GLH DOOH DQGHUHQ .DPSIVFKLIIH YRQ 1DU]HVFK XQG DOOHU DQGHUHQ *DOD[LHQGHV&OXVWHUV]X7RQWDXEHQGHJUDGLHUWHQ /lKPHQGHV (QWVHW]HQ EUHLWHWH VLFK LQ 1DU]HVFK XQG LQ GHQ 7UPHQ YRQ 6DUOHQJRUW DXV LQ GHQHQ GLH 7UlXPHU VDHQ GLH QLFKW DP )OXJ ]XU %ODXHQ *DOD[LVWHLOJHQRPPHQKDWWHQDOVGLH]XULHVLJHQ)ORWWHQIRUPLHUWHQ3DWURXLOOHQ GHU :L Q ]XHUVW GLH 6DWHOOLWHQLPSHULHQ 6DUOHQJRUWV ]HUVFKOXJHQ MHGHQ :LGHUVWDQGPLWNRPSURPLORVHU%UXWDOLWlWEUDFKHQXQGGDQQGHQ+LPPHOEHU 6DUOHQJRUWYHUGXQNHOWHQ 9LHU 7DJH VSlWHU ZDU GDV VWRO]H 6DUOHQJRUW YHUEUDQQW ZDU GLH 0DFKW GHU 7UlXPHUJHEURFKHQZDUGDV3DUDGLHVDQGHU2EHUIOlFKHGHV+HLPDWSODQHWHQ]X $VFKHXQGVFKZDU]HP5XJHZRUGHQ 0LW$XVQDKPHGHUZHLHQ7UPHXQGGHULQLKQHQWUlXPHQGHQ6DUOHQJRUWGLH GHQ:L QVRHUELWWHUWHQ:LGHUVWDQGJHOHLVWHWKDWWHQGDLKUHJHZDOWLJHQ)ORWWHQ GH]LPLHUWZRUGHQZDUHQ 1DFKYLHU7DJHQXQG1lFKWHQDEHUEUDFKDXFKGHUOHW]WH:LGHUVWDQG]XVDPPHQ 'LH7UlXPHUNRQQWHQGHP)HLQGNHLQHZHLWHUHQ9HUOXVWHEHLEULQJHQ 'RFK DXFK GLH :L Q ZDUHQ DP (QGH 9HUJHEHQV UDQQWHQ VLH PLW DOOHQ 0LWWHOQ JHJHQ GLH ZHLHQ 7UPH DQ ELV VLH HLQVHKHQ PXWHQ GD VLH DXFK IU VLH XQ]HUVW|UEDU ZDUHQ XQDQJUHLIEDUH )HVWXQJHQ DQ GHQHQ VLFK MHGHU )HLQG GLH =lKQHDXVEL $EHUGLH:L QKDWWHQLKUH(UIDKUXQJHQ²XQGVLHKROWHQDXVGHU%ODXHQ*DOD[LV 1DFKVFKXE LQ )RUP YRQ WHFKQLVFKHQ +LOIVPLWWHOQ XQG YRQ SVLRQLVFK EHJDEWHQ :HVHQGLHVLHVFKRQYRUODQJHU=HLWXQWHUZRUIHQKDWWHQXQGGLHHVQLFKWDQGHUV JHZRKQWZDUHQDOVLKUH3DUDVLQQHLP'LHQVWLKUHU+HUUHQHLQ]XVHW]HQ 8QGVRYHUZDQGHOWHQVLFKGLHZHLHQ7UPHLQ.HUNHUXQGGLH7UlXPHGHUGDULQ EHJUDEHQHQ6FKOlIHULQ$OSWUlXPHRKQH$QIDQJXQGRKQH(QGH1DFKXQGQDFK YHUILHOHQGLH6DUOHQJRUWGHP:DKQVLQQELVDXI]ZHLGHUHQ.UDIW]XVWDUNZDU DOV GD VLH GHU *QDGH JHLVWLJHU 8PQDFKWXQJ WHLOKDIWLJ ZHUGHQ NRQQWHQ $PWDU XQG6KXVKWDU 5(.587,(581* 'XQVW ODVWHWH DXI GHP *UDX GHV ]lKIOVVLJHQ 2]HDQV $VFKH ODJ DXI GHP YHUEUDQQWHQ/DQGXQG5XIORFNHQZLUEHOWHQGXUFKGLHVWHULOH/XIWGLHQXUQRFK GXUFKGLH(LQIOVVHYRQ+LW]HXQG.lOWHEHZHJWZXUGH 6KXVKWDUV %HZXWVHLQ ZDU HEHQVR JHIDQJHQ ZLH GDV DOOHU 6DUOHQJRUW LQ LKUHQ ZHLHQ7UPHQ'RFKKLQXQGZLHGHUJHODQJHVLKULPPDWHULHOOH3VHXGRSRGLHQ DXV]XVWUHFNHQXQGPLWLKQHQ,QIRUPDWLRQHQEHUGLH9HUKlOWQLVVHDXI6DUOHQJRUW ]XVDPPHOQ 6LHVDKGDVURWHXQGGDVZHLH$XJHGHU'RSSHOVRQQHDXIXQGXQWHUJHKHQXQG VLH VDK QDFKWV GLH 0RQGH GLH ZLH 7URSIHQ DXV JHVFKPRO]HQHP *ROG GLH

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lPPHUQ %LVHLQHV7DJHVDXVGHU1DFKWGLHVLFKEHUGHQ7HLOGHV3ODQHWHQJHVHQNWKDWWH DXIGHP$PWDUVXQG6KXVKWDUV7UPHVWDQGHQHLQHGXQNOH*HVWDOWJHWUHWHQZDU GXQNOHUDOVGHU5XXQGIUHPGHUDOVDOOHVZDVGLH$VFKHZHOWMHJHVHKHQKDWWH 'LH *HVWDOW ZDU DXV GHP 1LFKWV JHNRPPHQ DXI :HJHQ GLH NHLQ QRUPDOHV :HVHQ EHVFKUHLWHQ NRQQWH XQG PLW HLQHU 0DFKW DXVJHVWDWWHW ZLH VLH QLFKW HLQPDO6DUOHQJRUWXQG:L QJHPHLQVDPKlWWHQEHVLW]HQN|QQHQ +LOIORV KDWWH 6KXVKWDU PLWHUOHEHQ PVVHQ ZLH GLH 0DFKW GHU GXQNOHQ *HVWDOW HLQHQGHUXQ]HUVW|UEDUHQZHLHQ7UPHDXIEUDFKGHQ7XUPLKUHV%UXGHUVXQG ZLHVLH$PWDUDXVVHLQHP7UDXPJHIlQJQLVEHIUHLWH (QWVHW]W KDWWH GLH 6DUOHQJRUW PLWHUOHEW ZLH GHU )UHPGH GHU VLFK DOV +HUU GHU 1HJDVSKlUH EH]HLFKQHWH PLW 'URKXQJHQ PLW /RFNXQJHQ XQG PLW EUXWDOHU *HZDOWLKUHQ%UXGHUVRODQJHEHDUEHLWHWHELV$PWDUV6DUOHQJRUW(WKLNVLFKLQV 1HJDWLYH YHUNHKUWH XQG HU VHLQHQ .|USHU XQG VHLQH 6HHOH GHP +HUUQ GHU 1HJDVSKlUH DXVOLHIHUWH XP LKQ DOV /HQNXQJVHOHPHQW VHLQHV 'HNDORJV GHU (OHPHQWH]XGLHQHQ 9HU]ZHLIHOWKDWWH6KXVKWDUYHUVXFKWVLFKDXVLKUHP7XUP]XEHIUHLHQXQGLKUHQ %UXGHUYRUGHP9HUGHUEHQ]XUHWWHQXQGDOVHVLKUQLFKWJHODQJKDWWHVLHDOOHV GDUDQJHVHW]WLKPZHQLJVWHQVIROJHQ]XN|QQHQZRKLQDXFKLPPHU $XFKGDEHLZDUVLHJHVFKHLWHUW $PWDU GHU VLFK QDFK GHP :LOOHQ VHLQHV +HUUQ HLQHQ QHXHQ 1DPHQ ]XJHOHJW KDWWHXQGMHW]W.D]]HQNDWWKLHZDUGHP1DPHQORVHQGXUFKGDV1LFKWVXQGGLH 'XQNHOKHLWLQV5HLFKGHV%|VHQJHIROJW²XQGGDV%DQG]ZLVFKHQ%UXGHUXQG 6FKZHVWHUZDU]HUULVVHQ 6KXVKWDUEOLHELQ6FKPHU]XQG7UDXHULQLKUHQ.HUNHUJHEDQQWXQGVHKQWHVLFK QDFKQLFKWVVWlUNHUDOVQDFKGHU(UO|VXQJLP7RG ',(5b&+(5 9LHOHWDXVHQG-DKUHZDUHQZLHHLQ7DJ

,KU5HLFKZDU9HUJDQJHQKHLW'LHHVDXIJHEDXWKDWWHQZDUHQHEHQVRWRWZLHGLH GLH HV YHUORUHQ KDWWHQ XQG ZLH GLH *HQHUDWLRQHQ GLH QDFK LKQHQ JHNRPPHQ ZDUHQ 1XU GHU +D ZDU JHEOLHEHQ DXI GDV ZDV HKHGHP GLH KRFKIOLHJHQGHQ 3OlQH ]X )DOO JHEUDFKW KDWWH GHU +D XQG HLQH YRQ *HQHUDWLRQ ]X *HQHUDWLRQ ZHLWHUJHJHEHQH9HUSIOLFKWXQJ]XU5DFKH =XU 5DFKH DP /HQNHU GHV 'HNDORJV GHU (OHPHQWH GHU GHQ 9HUVXFK YHUHLWHOW KDWWHHLQ]ZHLWHV,PSHULXP]XHUULFKWHQXQG]XU5DFKHDQGHU+HOIHUVKHOIHULQ HLQHV .RVPRNUDWHQ GLH LQ WLHIHU 9HUJDQJHQKHLW GLH *UXQGODJH LKUHV HUVWHQ ,PSHULXPV]HUVW|UWKDWWH 'RFKDOOH9HUVXFKHDQGDV(OHPHQWGHU/HQNXQJKHUDQ]XNRPPHQVFKHLWHUWHQ GDUDQ GD HV YRQ GHQ DQGHUHQ (OHPHQWHQ GHV 'HNDORJV XQG YRU DOOHP YRP +HUUQ GHU 1HJDVSKlUH DEJHVFKLUPW ZXUGH .D]]HQNDWW HUZLHV VLFK DOV XQDQJUHLIEDU %LVHLQH6SXUJHIXQGHQZXUGHGLH$QOD]XQHXHU+RIIQXQJERW 6KXVKWDU EHPHUNWH GD )UHPGH DXI 6DUOHQJRUW ODQGHWHQ XQG YHUVXFKWHQ LQ GLH ZHLHQ7UPHHLQ]XEUHFKHQ 6LHZDUGDUEHUQLFKWEHXQUXKLJWGHQQGLHVH)UHPGHQZDUHQNHLQHhEHUZHVHQ ZLH GHU +HUU GHU 1HJDVSKlUH VRQGHUQ JHZ|KQOLFKH ,QWHOOLJHQ]HQ GLH VLFK LP 9HUODXIGHUQRUPDOHQ(YROXWLRQDXVRUJDQLVFKHU0DWHULHHQWZLFNHOWKDWWHQ =XP HUVWHQPDO VHLW .D]]HQNDWWV (QWIKUXQJ VWUHFNWH VLH ZLHGHU LPPDWHULHOOH 3VHXGRSRGLHQDXV6LHVRQGLHUWHGLH$QN|PPOLQJHXQGHUIXKUGDHV$JHQWHQ GHU*HQHWLVFKHQ$OOLDQ]ZDUHQHLQHV,PSHULXPVGDVQXUQRFKLQ(ULQQHUXQJHQ /HJHQGHQXQG6DJHQEHVWDQG 8QGGXUFKGHQ:LOOHQHVQHX]XHUULFKWHQ 'LHVHP=LHOGLHQWHQ]DKOORVH$JHQWHQGLHLQYLHOHQ*DOD[LHQXQWHUZHJVZDUHQ ² DXI GHU 6XFKH QDFK GHQ +LQWHUODVVHQVFKDIWHQ YRU bRQHQ HQWVWDQGHQHU XQG OlQJVW ZLHGHU XQWHUJHJDQJHQHU +RFK]LYLOLVDWLRQHQ GLH LKQHQ YLHOOHLFKW KHOIHQ NRQQWHQLKUH0DFKW]XYHUJU|HUQ 8QGDXIGHU6XFKHQDFK.D]]HQNDWWXPLKQ]XYHUQLFKWHQ 6KXVKWDUHUVFKUDN]XWLHIVWDOVVLHGHQ+DXQGGLH5DFKHJHOVWHVSUWHXQGGDV 2EMHNWDXIGDVVLHDXVJHULFKWHWZDUHQ 'DGXUFKYHUQDFKOlVVLJWHVLHLKUHJHLVWLJH$EVFKLUPXQJ $OVVLHHVPHUNWHZDUHV]XVSlWGHQQGDKDWWHQGLH,QVWUXPHQWHGHU)UHPGHQ VFKRQLKUHJHKHLPVWHQ*HGDQNHQXQG*HIKOHDQJH]DSIWXQGGLH7UlXPHULQDOV .D]]HQNDWWV6FKZHVWHUHQWWDUQW 6LHHUVDQQHQHLQHQWHXIOLVFKHQ3ODQ 6KXVKWDU VROOWH LKQHQ DOV :HUN]HXJ GHU 5DFKH GLHQHQ GDV VLH QDKH JHQXJ DQ .D]]HQNDWWKHUDQVWHXHUQNRQQWHQXPGDVXUDOWH8UWHLO]XYROOVWUHFNHQ 6KXVKWDU]RJLKUHLPPDWHULHOOHQ3VHXGRSRGLHQ]XUFNXQGNDSVHOWHVLFKLQLKUHP 7XUPHLQDXIVHLQH8Q]HUVW|UEDUNHLWYHUWUDXHQG 6LHEHUXKLJWHVLFKDOVVLHPHUNWHGDHVGHQ$JHQWHQGHU*HQHWLVFKHQ$OOLDQ] QLFKW JHODQJ LQ GHQ ZHLHQ 7XUP HLQ]XEUHFKHQ DXFK GDQQ QLFKW DOV VLH 9HUVWlUNXQJXQG]XVlW]OLFKHWHFKQLVFKH+LOIVPLWWHOQDFK6DUOHQJRUWKROWHQ

'RFK GLHVH ,QWHOOLJHQ]HQ YHUIJWHQ EHU DQGHUH )lKLJNHLWHQ ² XQG VLH KDWWHQ *HGXOG 0LW +LOIH LKUHU 6\QWKHWLVFKHQ %LRORJLH GLH VLH DXV GHU SHUIHNWLRQLHUWHQ 0ROHNXODUELRORJLH XQG *HQV\QWKHVH HQWZLFNHOW KDWWHQ NRQVWUXLHUWHQ XQG ³EDXWHQVLH.UHDWXUHQGLHLQQHUKDOE HLQHVODQJHQ=HLWUDXPVGHQ7UDXPNHUNHU 6KXVKWDUVDXIZHLFKWHQXQGGXUFKOlVVLJPDFKWHQ 'DQDFK KROWHQ GLH $JHQWHQ GHU *HQHWLVFKHQ $OOLDQ] (QNHO XQG 8UHQNHO GHUMHQLJHQ GLH HLQVW 6DUOHQJRUW HQWGHFNWHQ .D]]HQNDWWV 6FKZHVWHU DXV LKUHP 7XUP YHUQLFKWHWHQ GLH 6\QWKRNUHDWXUHQ GLH LKQHQ JHKROIHQ KDWWHQ EHUWUXJHQ GDV %HZXWVHLQ GHU 6DUOHQJRUW DXI 6WDKO XQG VFKPRO]HQ LKUHQ .|USHU ]X HLQHU DPRUSKHQ0DVVHHLQ 'DVJHVFKDK]XHLQHU=HLWDOVDQGHUH,QWHOOLJHQ]HQLQHLQHUDQGHUHU*DOD[LVGDV -DKU1HXHU*DODNWLVFKHU=HLWUHFKQXQJVFKULHEHQ ',(*(03(1%5h'(5 (V ZDU LP -DKUH 1*= DOV VLFK GLH 6SLW]HQDJHQWLQ GHV DNRQLVFKHQ (QHUJLHNRPPDQGRV XQG $QJHK|ULJH GHU DNRQLVFKHQ +RFKDULVWRNUDWLH LQ HLQHP NOHLQHQ5DXPVFKLIIDXIGHQ:HJ]XP.XJHOVWHUQKDXIHQ1*&PDFKWH 6LHQDQQWHVLFK1DVKDUDWL%RVKDLJXQ²XQGLKU5DXPVFKLIIKLH0,1$0272 LQ $QOHKQXQJ DQ GLH XUDOWH WHUUDQLVFKMDSDQLVFKH 7UDGLWLRQ GHU DXI *lD DQVlVVLJHQ)DPLOLH%RVKDLJXQ 1DVKDUDWL %RVKDLJXQ DUEHLWHWH VFKRQ ODQJH DOV 7HFKQRORJLH7UDQVIHU $EZLFNOHULQ GHV 3ODQHWHQ *lD LQ GHU 'XQNHOZRONH 3URYFRQ)DXVW ² XQG LKU JHK|UWHDXFKGDVNOHLQHXQGVFKQHOOH5DXPVFKLII0,1$0272 $EHU GLH )UDX GLH LKU DXIV +DDU JOLFK GHUHQ 5HWLQD$EGUXFNH GHQ LKUHQ HQWSUDFKHQ XQG GHUHQ =HOONHUQVWUDKOXQJ QDKH]X PLW LKUHU LGHQWLVFK ZDU KLH QLFKWZLUNOLFK1DVKHUDWL%RVKDLJXQ 6LHKLH,UXQDYRQ%DVV7HWK 'LH $NRQLQ KDWWH GLH ,GHQWLWlW XQG GDV $XVVHKHQ GHU 7HFKQRORJLH7UDQVIHU $EZLFNOHULQ DQJHQRPPHQ QDFKGHP VLH PLW 1DVKHUDWL HLQ ODQJHV *HVSUlFK JHIKUWXQGLKUH(LQZLOOLJXQJ]XGHP7DXVFKHUKDOWHQKDWWH1DVKDUDWLZDUPLW +LOIH DQGHUHU $JHQWHQ GHV (QHUJLHNRPPDQGRV XQEHPHUNW XQWHUJHWDXFKW XQG ZUGH VR ODQJH LQ LKUHP VLFKHUHQ 9HUVWHFN EOHLEHQ ELV ,UXQD LKUH 0LVVLRQ HUIROJUHLFKEHHQGHWKDWWH 2GHUWRWZDU 'HQQGLH)HLQGHJHJHQGLHVLFKLKUH$NWLYLWlWHQULFKWHWHQZDUHQVNUXSHOORVXQG NDQQWHQNHLQH*QDGHJHJHQEHU:LGHUVDFKHUQ (V KDQGHOWH VLFK XP GLH *HKHLPRUJDQLVDWLRQ GHU *HPSHQ%UGHU YRQ GHU $XHQVWHKHQGH QLFKW PHKU ZXWHQ DOV GD HV ,QWHOOLJHQ]HQ ZDUHQ GHUHQ $NWLYLWlWHQVFKRQLQYLHOHQ5DXPVHNWRUHQGHU0LOFKVWUDH]XP=XVDPPHQEUXFK YRQ JDQ]HQ :LUWVFKDIWV]ZHLJHQ JHIKUW KDWWHQ XQG GLH YHUDQWZRUWOLFK GDIU ]X VHLQ VFKLHQHQ GD LPPHU ZLHGHU =ZLHWUDFKW ]ZLVFKHQ GHQ UDXPIDKUHQGHQ =LYLOLVDWLRQHQJHVlWZXUGH 'LH YRQ LKQHQ DXVJHKHQGH *HIDKU ZXUGH YRQ GHQ $EZHKUGLHQVWHQ GHU JURHQ

JDODNWLVFKHQ=LYLOLVDWLRQHQQLFKWJHULQJHUHLQJHVFKlW]WDOVGLH*HIDKUGLHIUKHU HLQPDOYRQGHU&RQGRV9DVDFJHGURKWKDWWH 'DPDOV DOOHUGLQJV ZDUHQ $NRQHQ GLH 'UDKW]LHKHU GHU &RQGRV 9DVDF JHZHVHQ XQGKDWWHQVLFKGDV(QHUJLHNRPPDQGRXQGGLH6RODUH$EZHKUVRZLHGLH862LQ W|GOLFKHU)HLQGVFKDIWJHJHQEHUJHVWDQGHQ ,P-DKUH1*=ZDUHQDXVGHQHKHPDOLJHQ(UEIHLQGHQOlQJVW9HUEQGHWHXQG )UHXQGH JHZRUGHQ GLH ZLUWVFKDIWOLFK WHFKQRORJLVFK XQG NXOWXUHOO HQJ ]XVDPPHQDUEHLWHWHQ 8QGJHKHLPGLHQVWOLFK :LHEHLGHU0LVVLRQLQGHU,UXQDYRQ%DVV7HWKXQWHUZHJVZDU 6LH VROOWH VLFK LP .XJHOVWHUQKDXIHQ 1*& PLW HLQHP +DQVH6SH]LDOLVWHQ QDPHQV (]UD YDQ $DOHQ WUHIIHQ GHU 9HUELQGXQJ ]X HLQHP 6WW]SXQNW GHU *HPSHQ%UGHU LQ 1*& DXIJHQRPPHQ KDWWH LQ GHU 0DVNH XQG PLW GHU KLHE XQG VWLFKIHVWHQ /HJHQGH HLQHV GHVHUWLHUWHQ &DSWDLQV GHU 5DXPVWUHLWNUlIWH GHU /LJD )UHLHU 7HUUDQHU GHU VLFK DXIGHU )UHLKDQGHOVZHOW /HSVRHLQH([LVWHQ] DOV 'URJHQKlQGOHU DXIJHEDXW XQG QXQ LQV VFKPXW]LJH *HVFKlIW GHU 8QWHUJUXQGSROLWLNHLQVWHLJHQZROOWH *HJHQEHU GHQ /HXWHQ GHU *HPSHQ2UJDQLVDWLRQ LP 6WW]SXQNW KDWWH HU DQJHJHEHQHLQH*lDQHULQQDPHQV1DVKDUDWL%RVKDLJXQNHQQHQJHOHUQW]XKDEHQ GLH QHEHQ LKUHU RIIL]LHOOHQ 7lWLJNHLW DOV 7HFKQRORJLH7UDQVIHU$EZLFNOHULQ LOOHJDOH *HVFKlIWH PLW +LJK7HFK:DIIHQV\VWHPHQ EHWULHE GLH YRQ GHQ (U]HXJHUVWDDWHQQLFKWH[SRUWLHUWZHUGHQGXUIWHQ 'LH*HPSHQ%UGHUVFKLHQHQDQJHELVVHQ]XKDEHQ ,UXQD OlFKHOWH VWLOO LQ VLFK KLQHLQ DOV VLH GDUDQ GDFKWH GD GDV QLFKW YHUZXQGHUOLFK ZDU GHQ (]UD YDQ $DOHQ KDWWH HLQH $XVELOGXQJ QDFK GHQ DOWHQ 862*UXQGVlW]HQ DEVROYLHUW XQG GD]X JHK|UWH HLQH SHUIHNWH (LQVLFNHUXQJVWDNWLN LQV IHLQGOLFKH /DJHU XQG GDV $XIVSUHQ GHV .RSIHV YHUEUHFKHULVFKHU2UJDQLVDWLRQHQ (V ZDUHQ GLH JOHLFKH *UXQGVlW]H QDFK GHQHQ ,UXQD YRQ %DVV7HWK DXVJHELOGHW ZRUGHQZDU 'RFK QLFKW QXU GHVZHJHQ KDWWH PDQ VLH IU GLH =XVDPPHQDUEHLW PLW (]UD YDQ $DOHQ DXVJHZlKOW VRQGHUQ DXIJUXQG LKUHU ELVKHULJHQ %HZlKUXQJ EHL VFKZLHULJVWHQ 0LVVLRQHQ XQG ZHLO VLH GHQ 6FKDWWHQ HLQHU )lKLJNHLW EHVD GLH PLWJURHU:DKUVFKHLQOLFKNHLWDXIGLH:XU]HOQLKUHU$EVWDPPXQJ]XUFNJLQJ GLHELVYRUGLH%OWH]HLWGHV/HPXULVFKHQ,PSHULXPVDXVJHIRUVFKWZRUGHQZDU (V ZDU GLH =HLW YRU PHKU DOV -DKUHQ JHZHVHQ LQ GHU YHUEUHFKHULVFKH *HQHWLNHUGHUDXV*UXHOILQVWDPPHQGHQ7DNHUHUDXVGHQ8UPHQVFKHQGHU(UGH GLH GDPDOV /RWURQ KLH XQG DXV HQWIKUWHQ *DQMDVHQ GDV 9RON GHU /HPXUHU KHUDQJH]FKWHWKDWWHQ 'LHVHV VFKDWWHQKDIWH (UEH EHIlKLJWH ,UXQD GD]X LQ NULWLVFKHQ 6LWXDWLRQHQ GLH VHFKVGLPHQVLRQDOHQ(QHUJLHNRQVWDQWHQDQGHUHU,QWHOOLJHQ]HQDQ]XSHLOHQXQG]X HUDKQHQREVLHHVPLW)UHXQGRGHU)HLQG]XWXQKDWWHXQGPDQFKPDODXFKHWZDV EHUGHUHQ$EVLFKWHQ'DVKDWWHVLHVFKRQYRUHLQLJHQ+LQWHUKDOWHQJHUHWWHW $OV GLH 0,1$0272 LQ GHQ 1RUPDOUDXP ]XUFNILHO EHIDQG VLH VLFK LP

=HQWUXP HLQHV U|WOLFK JOKHQGHQ 1HEHOV LQQHUKDOE YRQ 1*& ,UXQD VFKDOWHWHDOOH6\VWHPHKHUXQWHUODXVFKWHQXUPLWGHU3DVVLY2UWXQJXQGZDUWHWH DXIGLH%RWVFKDIWYDQ$DOHQVGLHLKUGHQ7UHIISXQNWQHQQHQVROOWH 6LH ODXVFKWH DXHUGHP PLW GHP 5HOLNW GHU VHLW bRQHQ LQ LKUHU )DPLOLH ZHLWHUJHJHEHQHQ)l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lKLJNHLW HLQ XQG NRQQWH VFKOLHOLFK HLQH HLQ]HOQH h%6().RQVWDQWH DXIVSUHQ $XV GHQ HPRWLRQHOOHQ 6FKZLQJXQJHQ GLH YRQ GHU h%6().RQVWDQWH DXVJLQJHQ HUNDQQWH GLH $NRQLQ GD HV LP %HZXWVHLQGHVEHWUHIIHQGHQ,QWHOOLJHQ]ZHVHQVNHLQH+HLPWFNHJDE (VPXWHIROJOLFKYDQ$DOHQVHLQGHUDXIGHP]ZHLWHQ3ODQHWHQZDUWHWH -HW]W]|JHUWH,UXQDQLFKWOlQJHU6LHODQGHWHHEHQIDOOVDXIGHP]ZHLWHQ3ODQHWHQ HLQHU 'VFKXQJHOZHOW XQG QDFKGHP GHU +DQVH6SH]LDOLVW XQG VLH VLFK HLQH =HLWODQJJHJHQVHLWLJXPVFKOLFKHQKDWWHQWUDIHQVLHVLFKPLWWHQLQGHU:LOGQLV (]UDYDQ$DOHQEHULFKWHWHGDHULQ]ZLVFKHQKDXWQDKHQ.RQWDNWPLWGHQ/HXWHQ LP 6WW]SXQNW GHU *HPSHQ%UGHU JHKDEW KDWWH XQG ,UXQD EUDQQWH GDUDXI ]X HUIDKUHQ ZHOFKHP 9RON GLHVH /HXWH DQJHK|UWHQ GHQQ GDUEHU ZXWHQ ZHGHU GDV(QHUJLHNRPPDQGRQRFKGLH$EZHKUGHU.RVPLVFKHQ+DQVHELVKHUHWZDV 9DQ $DOHQ VFKLOGHUWH GLH /HXWH GLH HU NRQWDNWLHUW KDWWH DOV :HVHQ YRQ JURHU 0HQVFKHQlKQOLFKNHLW 6LH KDWWHQ KHOOEUDXQH +DXW XQG VFKPDOH OHLFKW JHNUPPWH1DVHQ'LH0lQQHUXQWHULKQHQZDUHQDWKOHWLVFKJHEDXWPLWKDUWHQ NDQWLJHQ*HVLFKWHUQXQGEHUZLHJHQGJODWWHQVFKZDU]HQ+DDUGLH)UDXHQZDUHQ HEHQIDOOV JUR DEHU VFKODQNHU XQG LKU +DDU VFKLPPHUWH JOHLFK IOVVLJHP .XSIHU (LQH HLQGHXWLJH =XRUGQXQJ ]X HLQHP EHNDQQWHQ 9RON ZDU YDQ $DOHQ QLFKW P|JOLFK JHZHVHQ REZRKO HU LQ VHLQHP .|USHU HLQ JHWDUQWHV 0LNUR 6RQGLHUXQJVJHUlW WUXJ PLW GHVVHQ +LOIH QRUPDOHUZHLVH GDV ,QQHUH YRQ /HEHZHVHQ LQ HLQHU $UW YHUIHLQHUWHU 5|QWJHQDXIQDKPHQ DXI HLQHP 0LNURILOP VLFKWEDUJHPDFKWZHUGHQNRQQWH 'DV*HUlWKDWWH]ZDUJHDUEHLWHWDEHUGHU)LOPZDUDXVXQHUILQGOLFKHQ*UQGHQ

XQEUDXFKEDUJHZHVHQXQGKDWWHQLFKWVJH]HLJWDXHUEHL]ZHLGHUNRQWDNWLHUWHQ /HXWH GLH 8PULVVH YRQ /HEHUQ GLH VLFK LQ )RUP XQG *U|H YRQ DOOHQ IXQNWLRQVJOHLFKHQ 2UJDQHQ DOOHU EHNDQQWHQ KRPLQLGHQ 6SH]LHV VWDUN XQWHUVFKLHGHQ 'HP +DQVH6SH]LDOLVWHQ ZDU GDV QLFKW YHUGlFKWLJ HUVFKLHQHQ DEHU GLH $NRQLQ KDWWH EHLP $QEOLFN GHU $EELOGXQJHQ VRIRUW JHZXW GD VLH XQG (]UD LQ HLQH KHLPWFNLVFKH )DOOH JHJDQJHQ ZDUHQ GHQQ VROFKH /HEHUQ ZLH DXI GHP 0LNURILOP KDWWHQ NHLQH ,QWHOOLJHQ]HQ GHU 0LOFKVWUDH ZRKO DEHU GLH $QJHK|ULJHQMHQHVDOWHQ9RONHVDXVGHPYRUPHKUDOV-DKUHQDXIGHU (UGHGDV9RONGHU/HPXUHUKHUDQJH]FKWHWZRUGHQZDUXQWHU9HUZHQGXQJGHV *HQPDWHULDOVHLQJHERUHQHU8UPHQVFKHQ 'DV 9RON GHU *DQMDVHQ GDV ]X GHQ &DSSLQ9|ONHUQ DXV GHU *DOD[LV *UXHOILQ JHK|UWHXQGXQWHUGHPZLHEHLDOOHQDQGHUHQ&DSSLQ9|ONHUQDXFKGLH)lKLJNHLW GHU 3HGRWUDQVIRUPLHUXQJ ZHLWYHUEUHLWHW ZDU ² XQG DXFK GLH )lKLJNHLW VLFK JHJHQGLH3HGRDQSHLOXQJVFKZlFKHUEHJDEWHU3HGRWUDQVIHUHUDE]XVFKLUPHQ $OV ,UXQD GDV HUNDQQWH ZDU HV DEHU VFKRQ ]X VSlW JHZHVHQ (LQ XQJODXEOLFK VWDUNHVIUHPGHV%HZXWVHLQZDUVFKODJDUWLJLQLKU%HZXWVHLQHLQJHGUXQJHQXQG KDWWHHVVLFKXQWHUZRUIHQ (LQH*HJHQZHKUZDUQLFKWP|JOLFKJHZHVHQ=XDEVROXWHU3DVVLYLWlWYHUXUWHLOW KDWWH ,UXQDV %HZXWVHLQ QXU PLWEHNRPPHQ GD IUHPGH ,QWHOOLJHQ]HQ DXIJHWDXFKW ZDUHQ LQ GHQHQ VLH &DSSLQV HUNDQQWH GD VLH (]UD YDQ $DOHQ EHVFKRVVHQ XQG VLFK LQ *HVSUlFKHQ GDUEHU DXVJHODVVHQ KDWWHQ GD GLH %H]HLFKQXQJ *HPSHQ%UGHU QXU HLQ 7DUQQDPH MHQHU YHUEUHFKHULVFKHQ 2UJDQLVDWLRQ ZDU GLH LQ PHKUHUHQ *DOD[LHQ LKU 8QZHVHQ WULHE XQG GDQDFK VWUHEWH GDV HKHPDOLJH PlFKWLJH ,PSHULXP LP DOWHQ *ODQ] ZLHGHUHUVWHKHQ ]X ODVVHQGDVHLQVWGLH6RPEUHUR*DOD[LVEHKHUUVFKWKDWWH 'DV,PSHULXPGHU*HQHWLVFKHQ$OOLDQ] 6HKU YLHO VSlWHU XQG DQ HLQHP DQGHUHQ 2UW KDWWH ,UXQD YRQ %DVV7HWK GDQQ HUIDKUHQ GD LKUH *HIDQJHQQDKPH GXUFK GLH *HPSHQ%UGHU 7HLO HLQHV YRQ ODQJHU+DQGYRUEHUHLWHWHQ3ODQHVZDUGHUGD]XGLHQHQVROOWHHLQ7RGHVXUWHLO]X YROOVWUHFNHQGDV7RGHVXUWHLOGDVEHU.D]]HQNDWWJHIlOOWZRUGHQZDU (UVFKWWHUW XQG YRQ *UDXHQ JHSDFNW PXWH ,UXQDV %HZXWVHLQ GLH 3UR]HGXU HUOHEHQGLHLKU]XJHGDFKWZDU ,KU*HLVWZXUGHDXI6WDKOEHUWUDJHQXQGLKU.|USHU]XHLQHUDPRUSKHQ0DVVH HLQJHVFKPRO]HQGLHYRQGHQ*HQWHFKQLNHUQGHUYHUEUHFKHULVFKHQ2UJDQLVDWLRQ HLQHU LQWHQVLYHQ 8QWHUVXFKXQJ XQWHU]RJHQ ZXUGH $QVFKOLHHQG ZlKOWHQ VLH HLQHQ 7HLO GHV =HOOPDWHULDOV DXV XQG ³EDXWHQ DXV LKP XQG DXV DXVJHZlKOWHP =HOOPDWHULDOHLQHVDQGHUHQ:HVHQVHLQHQHLQ]LJHQ.|USHU $QIDQJV DKQWH ,UXQD QLFKW ZHU GLHVHV DQGHUH :HVHQ ZDU (UVW DOV LKU %HZXWVHLQ XQG GDV DQGHUH PLWVDPW GHQ LQGLYLGXHOOHQ h%6().RQVWDQWHQ DXI GHQ 9HUVFKPHO]XQJVN|USHU EHUWUDJHQ ZDUHQ XQG HEHQIDOOV PLWHLQDQGHU YHUVFKPRO]HQ HUIXKU VLH GD LKUH /HLGHQVJHIlKUWLQ HLQH 6DUOHQJRUW ZDU GLH 6FKZHVWHUYRQ.D]]HQNDWWGHUVLFKDOV/HQNXQJVHOHPHQWGHV'HNDORJVGHQ+D GHU*HPSHQ%UGHU]XJH]RJHQKDWWH

:DVYRQ6KXVKWDUVWDPPWHEOLHEMHGRFKXQWHUGHU2EHUIOlFKHGHQQVRZROOWHQ HV GLH *HQWHFKQLNHU 'HU JHPHLQVDPH .|USHU VROOWH TXDVL LGHQWLVFK PLW GHP HKHPDOLJHQ .|USHU GHU RULJLQDOHQ ,UXQD YRQ %DVV7HWK VHLQ 6RJDU GLH 0LWRVHVWUDKOXQJ VWLPPWH PLW GHU GHU $NRQLQ EHUHLQ XQG LQ GHQ EHLGHQ PLWHLQDQGHU YHUVFKPRO]HQHQ h%6().RQVWDQWHQ ZDU GLH GHU 6DUOHQJRUW VR SHUIHNW EHUODJHUW GD VLH QLFKW QXU HLQ]LJ XQG DOOHLQ DOV h%6().RQVWDQWH ,UXQDV HUNDQQW ZXUGH VRQGHUQ VLFK VRJDU VHOEVW DOV h%6().RQVWDQWH ,UXQDV HPSIDQG $XFK GDV ZDU YRQ GHQ $JHQWHQ GHU *HQHWLVFKHQ $OOLDQ] XQG GHQ *HPSHQ %UGHUQ XQG LKUH *HQWHFKQLNHUQ VR YRUSURJUDPPLHUW ZRUGHQ GHQQ QXU GDQQ ZHQQ.D]]HQNDWWV6FKZHVWHUVLFKQLFKWEORlXHUOLFKDOV,UXQDYRQ%DVV7HWK WDUQWH VRQGHUQ VLFK DXFK DOV ,UXQD YRQ %DVV7HWK IKOWH ZUGH 6KXVKWDU QDKH JHQXJDQ.D]]HQNDWWKHUDQNRPPHQXPLKQW|WHQ]XN|QQHQ :LHVLFKGLH*HPSHQ%UGHUGHQ6FKOXDNWYRUVWHOOWHQEOLHELPGXQNHOQGHQQ GDV 3URGXNW GHU 9HUVFKPHO]XQJ HQWZLFNHOWH )lKLJNHLWHQ GLH GLH (LQ]HOZHVHQ QLHPDOV EHVHVVHQ KDWWHQ 0LW +LOIH GLHVHU )lKLJNHLWHQ NRQQWHQ ,UXQD6KXVKWDU IOLHKHQ 'HU6FKHPHQ6KXVKWDUVLQ,UXQDKDWWHQXUGDVHLQH=LHO.D]]HQNDWWVRZRKOYRU GHQ $JHQWHQ GHU *HQHWLVFKHQ $OOLDQ] ]X ZDUQHQ DOV DXFK DXV GHU *HZDOW GHV +HUUQGHU1HJDVSKlUH]XEHIUHLHQ ,UXQDYHUVWDQG6KXVKWDUV%HZHJJUQGHXQGWDWDOOHVXPLKU]XKHOIHQ 'RFKGHU9HUVXFKZDU]XP6FKHLWHUQYHUXUWHLOWZHLO.D]]HQNDWWLP$QJHVLFKW HLQHU 1LHGHUODJH GDV (OHPHQW GHU )LQVWHUQLV JHUXIHQ KDWWH XQG YRQ LKP YHUVFKOXQJHQZRUGHQZDU 'DV *HPHLQVFKDIWVZHVHQ DEHU YHUZLUUWH VLFK LP 3VLRQLVFKHQ 1HW] GHV 8QLYHUVXPV XQG ZXUGH VSlWHU DOV GLPHQVLRQDO EHUJHRUGQHWHU ,PSXOV LQV 7LHIHQODQGDEJHVWUDKOW (3,/2* 7DXVHQG-DKUHZDUHQZLHHLQ7DJ ,UXQDYRQ%DVV7HWKZXWHGDGLH=HLWUFNZlUWVJHODXIHQZDUZHLOVLHQDFK XUDOWHQ*HVHW]PlLJNHLWHQHLQHQ.UHLVEHVFKULHEHQKDWWH6LHYHUVWDQGQLFKWZLH VRHWZDVLPHLQ]HOQHQIXQNWLRQLHUWHVLHZXWHHVOHGLJOLFKZHLO$PXQ6LWDLHV LKUPLWJHWHLOWKDWWH $PXQ6LWDLGLHUHJHQHULHUWH,QNDUQDWLRQGHU.RVPRNUDWLQJOHLFKHQ1DPHQV $PXQ6LWDLLQGHUHQ%HZXWVHLQVLHJHIDQJHQJHZHVHQZDUXQGDOVGLHVLHVLFK ODQJH =HLW HPSIXQGHQ KDWWH ZHLO VLH LQIROJH HLQHV PHQWDOHQ 6FKRFNV XQIlKLJ JHZHVHQZDUVLFKDQLKUHZDKUH,GHQWLWlW]XHULQQHUQ 6LH EHIDQG VLFK QRFK LPPHU LQ $PXQ6LWDLV %HZXWVHLQ DEHU VLH ZDU NHLQH *HIDQJHQHPHKUVRQGHUQPLWLKUEHIUHXQGHW²XQG$PXQ6LWDLZDUGDEHLVLH GRUWKLQ]XUFN]XEULQJHQZRVLHKLQJHK|UWHZHLOVLFKLKU.|USHUGRUWEHIDQG 6LH HULQQHUWH VLFK JHQDX GDUDQ ZDV LQ GHU )HVWXQJ GHU 7RWHQ $XJHQ DXI %XJDNOLV JHVFKHKHQ ZDU ZLH VLH PLW )UHXQGHQ GRUWKLQ ]XUFNJHNHKUW ZDU XP GDV *HKHLPQLV GLHVHV 6WW]SXQNWHV ]X HQWVFKOHLHUQ GDV LKU EHLP HUVWHQPDO

YHUVFKORVVHQJHEOLHEHQZDUZHLOVLHGHQ1DDW7DYRRUUHWWHQPXWHXQGGDQDFK DQGHUH$XIJDEHQGULQJHQGHUJHZHVHQZDUHQ %HLP ]ZHLWHQPDO KDWWH VLH HV IDVW JHVFKDIIW (V ZDU LKU JHOXQJHQ GLH h%6() .RQVWDQWH GHV ELRQLVFKHQ 7HLOV GHU 0DVFKLQH DQ]XSHLOHQ GLH GDV 1HUYHQ]HQWUXP GHV 6WW]SXQNWV ZDU %HL GHP 9HUVXFK GLH %LRWURQLN GXUFK 3HGRWUDQVIHULHUXQJ]XEHUQHKPHQZDULKU%HZXWVHLQJHJHQHLQHQSVLRQLVFKHQ :DOOJHSUDOOW 'DV KDWWH LKP HLQHQ VROFKHQ 6FKRFN YHUVHW]W GD VLH LQ HLQHQ =HURWUDXP JHVFKOHXGHUWZRUGHQZDUXQGGDEHLYRP%HZXWVHLQ$PXQ6LWDLVEHUQRPPHQ ZRUGHQ ZDU GDV LQ GHU VHFKVGLPHQVLRQDOHQ (QGORV6FKOHLIH GHV 6WW]SXQNWJHKLUQVJHIDQJHQJHZHVHQZDU $PXQ6LWDLV %HZXWVHLQ KDWWH LQVWLQNWLY UHDJLHUW XQG GLH 0|JOLFKNHLW JHQXW]W GLH VLFK LKP PLW GHP MlKHQ =XIOX GHU 6H[WDGLP(QHUJLHQ HLQHU DQGHUHQ h%6().RQVWDQWHHUVFKORVVHQKDWWH 6LH ZDU LQ LKUHQ .|USHU ]XUFNJHNHKUW GHU EHZXWORV LQ GHU 3HGRNDSVHO JHVWHFNWKDWWHPLWGHU$PXQ6LWDLYRUODQJHU=HLWDXVLKUHP=HUR.UHX]HULQGLH *HKHLPVWDWLRQJHNRPPHQZDUXQGPLW+LOIHGHU3HGRWUDQVPLWWHUVFKDOWXQJGHU .DSVHO ZDU VLH DQ %RUG GHV LP 'DNNDUUDXP ZDUWHQGHQ =HUR.UHX]HUV ]XUFNYHUVHW]WZRUGHQ 1DFK-DKUHQ ,UXQD YRQ %DVV7HWK DEHU KDWWH HLQH DOSWUDXPKDIWH 2G\VVHH LKUHV %HZXWVHLQV HUOHEW GHQQ GLH (ULQQHUXQJ DQ LKUH ZDKUH ,GHQWLWlW ZDU DQIDQJV VR VHKU YHUVFKWWHWJHZHVHQGDVLHVLFKIU$PXQ6LWDLJHKDOWHQKDWWH :DV VLFK GDQDFK DOOHV HUHLJQHW KDWWH VFKLHQ LP 'XQNHO GHV 9HUJHVVHQV YHUVXQNHQ]XVHLQ9LHOOHLFKWZDUGDVDXFKJDQ]JXWVRGHQQ,UXQDDKQWHGDVLH ZlKUHQG GHU 2G\VVHH PHKU GXUFKJHPDFKW KDWWH DOV VLH MH VHHOLVFK KlWWH YHUNUDIWHQN|QQHQZUGHVLHVLFKDQDOOHVHULQQHUQ 6LH DKQWH DEHU DXFK GD VLH ZlKUHQG GHU 2G\VVHH HLQHQ WLHIHQ (LQEOLFN LQ GLH *HKHLPQLVVHXQG=XVDPPHQKlQJHGHV8QLYHUVXPVJHZRQQHQKDWWH²XQGVLH KRIIWH GD LUJHQGZDQQ VSlWHU ZHQLJVWHQV HLQ SDDU LKUHU (ULQQHUXQJHQ ZLHGHU HUZDFKWHQ 9LHOOHLFKWZUGHGDVQLFKWQXULKUH:LEHJLHU]XIULHGHQVWHOOHQVRQGHUQLKUQHXH 0|JOLFKNHLWHQ HU|IIQHQ $WODQ XQG VHLQHQ )UHXQGHQ EHL GHU /|VXQJ GHU VFKHLQEDU XQEHUZLQGOLFKHQ 3UREOHPH ]X KHOIHQ GLH JOHLFK HLQHU JLJDQWLVFKHQ 0DXHUYRULKQHQDXIUDJWHQ *OHLFKLVWHVVRZHLWUDXQWH$PXQ6LWDLV%HZXWVHLQLKU]X :LUG HV JHOLQJHQ" ZLVSHUWH ,UXQD ]ZLVFKHQ +RIIHQ XQG %DQJHQ :HUGH LFK LQ PHLQHQ.|USHU]XUFNWUDQVIHULHUWZHUGHQN|QQHQ" (V ZLUG JHOLQJHQ DQWZRUWHWH $PXQ6LWDL 9RUDXVJHVHW]W GHLQH )UHXQGH KDEHQ GHLQHQ .|USHU QLFKW YRQ GHU 6WXUPZHOW HQWIHUQW GHQQ QXU GRUW ZLUG HU LQ GHU 5HLFKZHLWHGHLQHU3DUDNUDIWVHLQ 0HLQH )UHXQGH VLQQLHUWH ,UXQD (LQ SDDU )UHLKlQGOHU XQG (LUHQH 5KRGDQ GLH HLJHQWOLFK QLFKW PHLQH )UHXQGLQ LVW =XPLQGHVW KDW VLH GDV ELVKHU QLFKW ]X HUNHQQHQJHJHEHQ$EHUDOV*HVLOV7RFKWHUNDQQVLHQLFKWVFKOHFKWVHLQ²XQG

VLHLVW]ZHLIHOORVLQWHOOLJHQWHUDOVVLHQRUPDOHUZHLVHHUNHQQHQOLH *HVLOV7RFKWHUIOVWHUWH$PXQ6LWDL$VVXU+DWRQPXGDVJHZXWKDEHQGHQQ GDVHUNOlUWZDUXPHUVR]XYHUVLFKWOLFKZDUGDGXJHUHWWHWZLUVW $VVXU+DWRQ"VLQQLHUWH,UXQDXQGVSUWHZLHHLQH:RJHYRQ(ULQQHUXQJHQLQ LKUDXIVWHLJHQZROOWH:HULVW$VVXU+DWRQ" 'LH :RJH GHU (ULQQHUXQJHQ IODFKWH DE XQG JOLWW ]XUFN LQ GLH 'XQNHOKHLW DXV GHUVLHHPSRUJHZDOOWZDU (VLVWQLFKWZLFKWLJHUNOlUWH$PXQ6LWDL:LUVLQGMHW]WLP'DNNDUUDXPVRGLFKW DQGLH6WXUPZHOWKHUDQJHNRPPHQGDGDV=LHOLQQHUKDOEGHLQHV$NWLRQVUDGLXV OLHJW6SULQJ,UXQDYRQ%DVV7HWK 8QG,UXQDYRQ%DVV7HWKVSUDQJ (1'(

Die genetische Allianz

Die Genetische Allianz

Die allianz

Die Allianz

Die Tryonische Allianz

Die Tryonische Allianz

Die Tryonische Allianz

Die Allianz der Tugendhaften

Das genetische Magazin

Allianz der Galaktiker

Eine unheilvolle Allianz

Allianz der Galaktiker

Allianz der Vergessenen

Der genetische Krieg

Das genetische Magazin

Allianz der Vergessenen

Allianz der Galaktiker

Allianz der Galaktiker

Der genetische Krieg

Automatische genetische Analytik

Allianz der Galaktiker

Allianz der Galaktiker

Das genetische Siegel: Perry Rhodan - Die Tefroder 1 - Roman

Allianz der Vergessenen

Allianz der Galaktiker

Allianz gegen den Wahnsinn

Allianz der Galaktiker

Einfuhrung in die Genetische Epidemiologie (Statistik und ihre Anwendungen)

Perry Rhodan 85: Allianz der Galaktiker

Kriminalbiologie. Genetische Fingerabdrücke und Insekten auf Leichen GERMAN

Allianz and the German Insurance Business, 1933-1945

Die genetische Allianz