Reiki mit Edelsteinen

5(,., 0,7 ('(/67(,1(1

5(,., PLW (GHOVWHLQHQ

8UVXOD .OLQJHU5DD]

5(,., PLW (GHOVWHLQHQ

0LW XQLYHUVDOHU /HEHQVNUDIW XQG GHQ OLFKWYROOHQ .UlIWHQ HGOHU 6WHLQH ]XU XUVSUQJOLFKHQ +DUPRQLH ILQGHQ

:,1'3)(5' 9HUODJVJHVHOOVFKDIW PE+

'LH LQ GLHVHP %XFK EHVFKULHEHQHQ +HLODQZHQGXQJHQ HQWVWDPPHQ GHU HLJHQHQ SUDNWLVFKHQ (UIDKUXQJ GHU $XWRULQ 6LH VROOHQ lU]WOLFKHQ 5DW XQG +LOIH DEHU NHLQHVIDOOV HUVHW]HQ 'LH $XWRULQ XQG GHU 9HUODJ EHUQHKPHQ NHLQH +DIWXQJ IU GLH 6FKlGHQ GLH DXV GHP ULFKWLJHQ RGHU XQULFKWLJHQ *HEUDXFK GHU GDUJHVWHOOWHQ 0HWKRGHQ UHVXOWLHUHQ

 $XIODJH   $XIODJH   $XIODJH   $XIODJH   $XIODJH 

Ý  E\ :LQGSIHUG 9HUODJVJHVHOOVFKDIW PE+

$OOH 5HFKWH YRUEHKDOWHQ

8PVFKODJJHVWDOWXQJ 0RQLND -HQQHPDQQ XQWHU 9HUZHQGXQJ HLQHU ,OOXVWUDWLRQ YRQ 3HWHU (KUKDUGW

=HLFKQXQJHQ LP ,QQHQWHLO 3HWHU (KUKDUGW

*HVDPWKHUVWHOOXQJ 6FKQHHO|ZH

,6%1 

3ULQWHG LQ *HUPDQ\

'LHVHV %XFK LVW GHU LPPHU JU|‰HU ZHUGHQGHQ 5HLNL)DPLOLH XQG GHQ )UHXQGHQ GHU HGOHQ 6WHLQH XQG .ULVWDOOH JHZLGPHW PLW DOO PHLQHU /LHEH )UHXGH XQG

'DQNEDUNHLW IU PHLQH YLHOHQ +HOIHU LQ GHU OLFKWHQ :HOW XQG DXI (UGHQ

,1+$/769(5=(,&+1,6 

9RUZRUW  0HLQ SHUV|QOLFKHU :HJ (LQOHLWXQJ  =ZHL QDWUOLFKH .Ul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|USHU3RVLWLRQHQ 'LH 5FNHQ3RVLWLRQHQ 'LH &KDNUD%DODQFH 'LH 5HLNL6HOEVWEHKDQGOXQJ LP 6LW]HQ 'LH 5HLNL6HOEVWEHKDQGOXQJ 5HLNL%HKDQGOXQJHQ PLW VLHEHQ EHVRQGHUV DXVJHZlKOWHQ (GHOVWHLQHQ 6LHEHQ *UDQDWH  )UHXGLJHU $XIEDX 9LWDOLWlW 7DWNUDIW 6LHEHQ .DUQHROH  'XUFKIOXWXQJ %HZHJXQJ LP )OX‰ VHLQ 6LHEHQ %HUQVWHLQH  (UIROJVEHKDQGOXQJ 6LHEHQ &LWULQH  :HLVKHLW 8PVHW]XQJ JHLVWLJHU (UNHQQWQLVVH 6LHEHQ 5XWLOTXDU]H  +DUPRQLH *ROGHQHV /LFKW 6HJHQ 6LHEHQ &KU\VRSUDVH  6WLUE XQG :HUGH 5HJHQHUDWLRQ 6LHEHQ 5RVHQTXDU]H  6DQIWKHLW EHGLQJXQJVORVH /LHEH (UEOKHQ 6LHEHQ &KDO]HGRQH

 6SUDFKOLFKH .RPPXQLNDWLRQ 5HGQHUVWHLQ 6LHEHQ $TXDPDULQH  %DOVDP IU GLH 6HHOH +HLOLJH +HLOXQJ 6LHEHQ /DSLVOD]XOL  *ODXEHQVNUDIW *|WWOLFKH )KUXQJ NRVPLVFKHU )ULHGHQ 6LHEHQ $PHWK\VWH  7UDQVIRUPDWLRQ .DUPDO|VXQJ GDV +|FKVWH LQ DOOHP 6LHEHQ %HUJNULVWDOOH  /LFKWEULQJHU 5HLQKHLW .ODUKHLW =LHOJHULFKWHWKHLW (LQIDFKKHLW 'LH :LUNXQJ GHU 5HLNL%HKDQGOXQJ PLW (GHOVWHLQHQ

925:257  0(,1 3(56g1/,&+(5 :(* 

%HLGH .UlIWH VLQG YRU YLHOHQ -DKUHQ GXUFK (LQZHLKXQJ ]X PLU JHNRPPHQ XQG ]X HLQHU NUDIWYROOHQ (LQKHLW YHUVFKPRO]HQ GLH PLFK PLW EHLGHQ )‰HQ DXI GHU (UGH VWHKHQ XQG PHLQ +HU] XQG PHLQHQ 6LQQ IU GLH (UIDKUXQJ GHU ZXQGHUEDUHQ $OO/LHEH XQG GHV /LFKWHV DXV J|WWOLFKHU 4XHOOH JH|IIQHW KDW 8QG LFK KDEH JHOHUQW GLHVH .UDIW LP WlJOLFKHQ /HEHQ XP]XVHW]HQ

5HLNL KDW PLFK ]XU 0HLVWHUVFKDIW PLW PLU VHOEVW PHLQHU 8PZHOW XQG GHU XQLYHUVHOOHQ /HEHQVNUDIW JHIKUW GLH (GHOVWHLQH XQG .ULVWDOOH KDEHQ PLFK ]XU (QWIDOWXQJ YRQ 6FK|QKHLW XQG )UHXGH .RQ]HQWUDWLRQ XQG (VVHQ] LQ PHLQHP /HEHQ JHOHLWHW

(LQ 5LHVHQVFKULWW DXI PHLQHP :HJ ]X 5HLNL ZXUGH GXUFK PHLQH VFKZLHULJH 6FKZDQJHUVFKDIW XQG GDV VFKPHU] XQG OHLGYROOH /RVODVVHQ XQG *HElUHQ HLQHV WRWHQ .LQGHV HLQJHOHLWHW ,Q GHU $XVHLQDQGHUVHW]XQJ PLW GLHVHP HLQVFKQHLGHQGHQ (UOHEQLV NDP LFK ]X PHLQHU 6SLULWXDOLWlW XQG GUHL -DKUH VSlWHU LQ PHLQHU 5HLQNDUQDWLRQVWKHUDSLH XQG DXVELOGXQJ ]XP XQLYHUVHOOHQ J|WWOLFKHQ /LFKWVWURP XQG VHLQHU JUR‰HQ EHIUHLHQGHQ KHLOHQGHQ .UDIW 'LHVHV 6FKOVVHOHUOHEQLV IKUWH PLFK NXU] GDQDFK LP 6RPPHU  ]X 5HLNL XQG PHLQHU , *UDG 5HLNL(LQZHLKXQJ 1RFK KHXWH HUIOOW PLFK JUR‰H 'DQNEDUNHLW IU PHLQH 5HLNL0HLVWHULQ %ULJLWWH 0OOHU GDPDOV GLH HLQ]LJH LQ 'HXWVFKODQG OHEHQGH 5HLNL0HLVWHULQ GXUFK GLH LFK GDV *HVFKHQN YRQ 5HLNL HUKDOWHQ GXUIWH

0LW PHLQHU 5HLNL(LQZHLKXQJ EHJDQQ IU PLFK HLQ QHXHU /HEHQVDEVFKQLWW 5HLNL JDE XQG JLEW PLU GLH YROONRPPHQH *HZL‰KHLW GXUFK GLH HUKDOWHQH (LQZHLKXQJ LQ DOOHU 1DWUOLFKNHLW 6HOEVWYHUVWlQGOLFKNHLW XQG (LQIDFKKHLW GXUFK GDV $XIOHJHQ PHLQHU +lQGH HLQ .DQDO IU GDV /LFKW GLH $OO/LHEH GLH KHLOHQGH J|WWOLFKH .UDIW ]X VHLQ  RKQH PLFK GDEHL DQVWUHQJHQ RGHU PLU

HWZDV YRUVWHOOHQ RGHU EHVWLPPWH 5LWXDOH RGHU %HGLQJXQJHQ HUIOOHQ ]X PVVHQ RKQH hEHUIRUGHUXQJ PHLQHU $XIPHUNVDPNHLW EHLP 5HLNL*HEHQ 0HLQH +lQGH VLQG LPPHU PLW PLU EHUHLW 5HLNL ]X JHEHQ 'DEHL IOLH‰W 5HLNL LPPHU YRQ VHOEVW RSWLPDO ]X GHP GHU 5HLNL HPSIlQJW VR ZLH HU HV EUDXFKHQ XQG DQQHKPHQ NDQQ JDQ] XQDEKlQJLJ YRQ PHLQHU 3HUVRQ 'LHV JLEW PLU GLH %DVLV DQGHUH 0HQVFKHQ PLW 5HLNL ]X XQWHUVWW]HQ LKUH 6HOEVWKHLOXQJVNUlIWH ]X DNWLYLHUHQ LKUH 'HQNZHLVH XQG /HEHQVHLQVWHOOXQJ VRZLH LKU 9HUKDOWHQ ]X EHUSUIHQ XQG ]X HUQHXHUQ XQG LKU %HZX‰WVHLQ ]X HUZHLWHUQ XQG ]X HUK|KHQ (LQHQ 0RQDW QDFK PHLQHU 5HLNL(LQZHLKXQJ LQ GHQ , *UDG HU|IIQHWH LFK GDV ,QVWLWXW IU *DQ]KHLWOLFKH 3V\FKRORJLH XQG DUEHLWH VHLWGHP VHOEVWlQGLJ PLW (LQ]HOQHQ XQG *UXSSHQ DXI GHU *UXQGODJH YRQ 5HLNL

(LQ -DKU VSlWHU LP 6RPPHU  NDP EHU GLH XQHUZDUWHWH DEHU VHKU HLQGUXFNVYROOH %HJHJQXQJ PLW HLQHP 6FKDPDQHQ DOV PLFK GLH LQQHUH (UIDKUXQJ GHV )HXHUV GHU (UGH ]X %RGHQ ZDUI HLQ ZLQ]LJHU VFKZDU]HU (GHOVWHLQ PLW ZHL‰HQ )OHFNHQ ]X PLU HLQ 6FKQHHIORFNHQREVLGLDQ 'HU 6FKDPDQH EHUJDE LKQ PLU PLW GHU $XIIRUGHUXQJ ]X K|UHQ ZDV PLU GLHVHU 6WHLQ ]X VDJHQ KDEH ,Q GLHVHP $XJHQEOLFN |IIQHWHQ VLFK LQ PLU QHXH 'LPHQVLRQHQ GLH (GHOVWHLQH XQG .ULVWDOOH EHJDQQHQ ]X PLU ]X VSUHFKHQ 2KQH MH ]XYRU GDYRQ HUIDKUHQ ]X KDEHQ NDP GHU +WHU GHU 6WHLQH DOV EHUJHRUGQHWHV J|WWOLFKHV %HZX‰WVHLQ GHU :HOW GHU (GHOVWHLQH LQ PHLQ %HZX‰WVHLQ DOV LFK ]XP HUVWHQPDO (GHOVWHLQH XQG .ULVWDOOH ]X HLQHP 0DQGDOD OHJWH XQG JDE PLU GLH HUVWHQ (LQEOLFNH XQG $QZHLVXQJHQ LP 8PJDQJ PLW GHQ ZXQGHUEDUHQ )DUEVFKZLQJXQJHQ GHU 6WHLQH ,FK HPSIDQG GLHV DOV WLHIH LQQHUH (LQZHLKXQJ XQG (LQIKUXQJ LQ HLQH OLFKWYROOH PLU ELV GDKLQ JlQ]OLFK YHUERUJHQH JHKHLPQLVYROOH :HOW LQ GHU LFK PLW GHU /LFKWVFKZLQJXQJ XQG $XVVWUDKOXQJ GHU (GHOVWHLQH XQG .ULVWDOOH VR LQQLJ YHUEXQGHQ ZXUGH GD‰ LFK VLH VHLWGHP DOV HLQHQ 7HLO YRQ PLU HUOHEH

$XI GHU %DVLV YRQ 5HLNL OHUQWH LFK GXUFK LQQHUH )KUXQJ GLH (GHOVWHLQH LQ PHLQH 5HLNLDUEHLW HLQ]XEH]LHKHQ 'LHV LQWHQVLYLHUWH PHLQH (QHUJLH VHKU XQG |IIQHWH PLFK ZHLWHU IU 5HLNL 1RFK LP VHOEHQ -DKU ZXUGH LFK LQ GHQ ,, 5HLNLJUDG HLQJHZHLKW ZDV PHLQ %HZX‰WVHLQ XQG PHLQHQ 8PJDQJ PLW 5HLNL XQG GHQ (GHOVWHLQHQ LQ QHXH 6HLQVEHUHLFKH XQG $QZHQGXQJVP|JOLFKNHLWHQ KRE 'DUDXV HQWIDOWHWH VLFK PHLQH EHZX‰WH :DKUQHKPXQJ GHU HQHUJHWLVFKHQ 9RUJlQJH XQG $EOlXIH LQ GHQ (QHUJLHN|USHUQ GHV 0HQVFKHQ VHLQHQ $XUHQ XQG (QHUJLH]HQWUHQ VRZLH PHLQH 0HGLDOLWlW GXUFK GLH LFK HUIDKUH ZHOFKHU 6WHLQ GHP 0HQVFKHQ LQ VHLQHU DNWXHOOHQ /HEHQVVLWXDWLRQ 8QWHUVWW]XQJ JHEHQ NDQQ 'HU (GHOVWHLQ OHQNW GDEHL PHLQH :DKUQHKPXQJ 0LW VHLQHQ IU PLFK GHXWOLFK VLFKWEDUHQ $XVVWUDKOXQJHQ JLEW HU NRQNUHWH +LQZHLVH XQG +LOIH hEHU VLH HUIDKUH LFK ZHOFKH 6HHOHQVFKZLQJXQJHQ QDFK $XVGUXFN YHUODQJHQ

'LH $UEHLW PLW 5HLNL XQG (GHOVWHLQHQ IKUW PLFK LPPHU ZLHGHU ]X QRFK YHUERUJHQHQ LQ PLU DQJHOHJWHQ )lKLJNHLWHQ XQG 3RWHQWLDOHQ XP VLH DQV

/LFKW  GK ]X %HZX‰WVHLQ ]X EULQJHQ 6R NDPHQ GLH (QJHO XQG JDQ] EHVRQGHUV YLHU (U]HQJHO XQG GLH (GHOVWHLQ XQG .ULVWDOO(QJHO LQ PHLQ /HEHQ XQG :LUNHQ XQG VHLW PHLQHU (LQZHLKXQJ ]XP 5HLNLPHLVWHU DXFK GLH DXIJHVWLHJHQHQ 0HLVWHU XQG KRKHQ /LFKW7UlJHU GLH LQ XQHQGOLFKHU /LHEH IU XQV DOOH XQDXIK|UOLFK GLH JUR‰HQ )DUEVWUDKOHQ DXV J|WWOLFKHU 4XHOOH LQ XQVHUHQ /HEHQVVWURP OHQNHQ

:lKUHQG PHLQHU YLHOHQ (UIDKUXQJHQ PLW 5HLNL XQG (GHOVWHLQHQ PLW PLU VHOEVW VRZLH GLH $QZHQGXQJ XQG ,QLWLDWLRQ EHLGHU .UlIWH EHL DQGHUHQ KDEH LFK PLFK DXV GHU JHLVWLJHQ :HOW IKUHQ ODVVHQ 'LH (VVHQ] GLHVHU (UOHEQLVVH EULQJH LFK LQ GLHVHP %XFK ]XP $XVGUXFN 'DV %HVRQGHUH DQ 5HLNL PLW (GHOVWHLQHQ LVW GDV QDWUOLFKH XQG GLUHNWH =XVDPPHQIOLH‰HQ EHLGHU .UlIWH GLH VLFK GDGXUFK DNWLYLHUHQ XQG HUK|KHQ XQG HV HQWVWHKW PHKU DOV QXU GLH 6XPPH EHLGHU (QHUJLHQ

(,1/(,781*  =:(, 1$7h5/,&+( .5b)7( 

,Q (GHOVWHLQHQ XQG .ULVWDOOHQ VLQG GLH OLFKWYROOHQ VWUDKOHQGHQ .UlIWH GHV 8QLYHUVXPV YHUERUJHQ GLH DXI QDWUOLFKH :HLVH XQVHUH 6HOEVWKHLOXQJVNUlIWH DNWLYLHUHQ XQG XQVHU J|WWOLFKHV /LFKWEHZX‰WVHLQ HQWIDOWHQ KHOIHQ 0LW 5HLNL HLQHU LQ -DSDQ ZLHGHUHQWGHFNWHQ 6HOEVW +HLOPHWKRGH N|QQHQ ZLU GLHVH OLFKWYROOHQ VWUDKOHQGHQ .UlIWH GHV 8QLYHUVXPV NDQDOLVLHUHQ XQG GXUFK GDV $XIOHJHQ XQVHUHU +lQGH ]X XQV VHOEVW XQG ]X DQGHUHQ IOLH‰HQ ODVVHQ :HQQ ZLU EHLGH .UlIWH PLWHLQDQGHU NRPELQLHUW XQG VLFK HUJlQ]HQG XQG LQWHQVLYLHUHQG ]X XQVHUHP :RKO HLQVHW]HQ GUIHQ ZLU ZXQGHUEDUH (UIDKUXQJHQ PDFKHQ

'LH :HOW GHU (GHOVWHLQH LVW WLHI LP ,QQHUHQ GHU (UGH LP 6FKR‰ YRQ 0XWWHU (UGH HQWVWDQGHQ 8QWHU JHZDOWLJHP 'UXFN XQG LQ XQYRUVWHOOEDU ODQJHU =HLW VLQG VLH LQ DOOHU 6WLOOH ZLH OHXFKWHQGH %OWHQ LQ GHU 'XQNHOKHLW JHZDFKVHQ ,Q LKQHQ LVW GDV J|WWOLFKH /LFKW LQ VHLQHU 9ROONRPPHQKHLW 5HLQKHLW .ODUKHLW XQG 9LHOIDOW HQWKDOWHQ )DUEHQ )RUPHQ XQG 6WUXNWXUHQ VLQG KLHU VR HLQ]LJDUWLJ NRQ]HQWULHUW PDQLIHVW JHZRUGHQ ZLH LQ NHLQHU DQGHUHQ YHUJOHLFKEDUHQ LUGLVFKHQ (UVFKHLQXQJVIRUP 'LH (LQKHLW YRQ +LPPOLVFKHP 9DWHU /LFKW *HLVW XQG 0XWWHU (UGH 'XQNHOKHLW 0DWHULH LVW LQ YROOHQGHWHU :HLVH LQ MHGHP (GHOVWHLQ XQG .ULVWDOO ]XP $XVGUXFN JHEUDFKW

$OOHLQ PLW XQVHUHQ lX‰HUHQ $XJHQ N|QQHQ ZLU ]ZDU GLH 6FK|QKHLW GDV )XQNHOQ GLH )DUELQWHQVLWlW GLH )RUP HLQHV (GHOVWHLQHV VHKHQ XQG XQV GDUDQ IUHXHQ DEHU VHLQH YHUERUJHQHQ .UlIWH VHLQ /HXFKWHQ XQG 6WUDKOHQ ZHLW KLQDXV LQ GDV 8QLYHUVXP VHLQH 9HUEXQGHQKHLW PLW GHU OLFKWHQ :HOW DXV GHU

HU XQG ZLU XQG DOOHV /HEHQ HQWVWDQGHQ LVW VHLQ %HGUIQLV ]X XQV ]X ILQGHQ DQJHQRPPHQ XQG JHOLHEW ]X ZHUGHQ XQG XQVHU %HZX‰WVHLQ ]XP *|WWOLFKHQ ]XP /LFKW ]XP *HLVW LQ GHU 0DWHULH KLQ ]X OHQNHQ ZLUG QXU XQVHU LQQHUHV $XJH HUNHQQHQ GUIHQ

'DV :RUW 5HLNL NRPPW DXV GHP -DSDQLVFKHQ XQG LVW $XVGUXFN IU GLH XQLYHUVHOOH /HEHQVNUDIW GLH YRQ HLQHP LQ -DSDQ OHEHQGHQ XQG OHKUHQGHQ FKULVWOLFKHQ 3ULHVWHU QDPHQV 'U 0LNDR 8VXL LP  -DKUKXQGHUW DOV GLH J|WWOLFKH XQLYHUVHOOH +HLONUDIW ZLHGHUHQWGHFNW ZXUGH PLW GHU VFKRQ %XGGKD XQG &KULVWXV GXUFK +DQGDXIOHJHQ JHKHLOW KDEHQ (V LVW GLH .UDIW GLH DXV GHU 4XHOOH GHV (ZLJHQ /LFKWHV ]X XQV IOLH‰W XQV GXUFKVWU|PW XQG XPJLEW (LQH .UDIW GLH LQ )OOH YRUKDQGHQ LVW XQG HLJHQWOLFK XQV DOOHQ ]XU 9HUIJXQJ VWHKW

0LW GHP (LQWULWW LQ GLHVHV /HEHQ VLQG ZLU DEHU HUVW HLQPDO VFKRQ GXUFK XQVHUHQ SK\VLVFKHQ .|USHU EHGLQJW DQ GLH JUREVWRIIOLFKHQ 6FKZLQJXQJHQ GHU 0DWHULH DQ LUGLVFKH 9RUJlQJH XQG GDUDXV UHVXOWLHUHQGH %HGUIQLVVH JHEXQGHQ QRFK ZHLW HQWIHUQW YRQ GHU :LHGHUHQWGHFNXQJ XQVHUHU /LFKWKHLPDW 'RFK PLW GHU ]XQHKPHQGHQ (QWIDOWXQJ XQVHUHV /LFKWEHZX‰WVHLQV GUIHQ ZLU =XVDPPHQKlQJH ]ZLVFKHQ 0DWHULH XQG *HLVW ZLHGHUHUNHQQHQ ZLUG GDV 6HKQHQ XQG 6WUHEHQ XQVHUHU 6HHOH ]XUFN ]XP 8UVSUXQJ ]XP /LFKW ]XP *|WWOLFKHQ LPPHU VWlUNHU XQG VR LQWHQVLY GD‰ GDV /LFKW YHUVWlUNW ]X XQV IOLH‰HQ NDQQ

(V JLEW YLHOH 0|JOLFKNHLWHQ XQVHUH /LFKWVFKZLQJXQJHQ VR ]X DNWLYLHUHQ GD‰ ZLU XQV GHP /LFKW GHV /HEHQV GHU 8QLYHUVHOOHQ /HEHQVNUDIW |IIQHQ N|QQHQ XQG VRPLW GHU KHLOVDPH J|WWOLFKH /LFKWVWUDKO PLW VHLQHU EHGLQJXQJVORVHQ /LHEH YHUVWlUNW ]X XQV IOLH‰HQ NDQQ

(LQH GHU 0|JOLFKNHLWHQ NUDIWYROO PLW GHU XQLYHUVHOOHQ /HEHQVNUDIW YHUEXQGHQ ]X VHLQ LVW GLH (LQZHLKXQJ LQ 5HLNL 0LW GLHVHU (LQZHLKXQJ ZLUG XQVHU +HLOXQJVNDQDO VR JHUHLQLJW XQG DNWLYLHUW GD‰ ZLU DXI HLQIDFKH XQG QDWUOLFKH :HLVH ]X HLQHP 9HUPLWWOHU ]ZLVFKHQ *HLVW XQG 0DWHULH ZHUGHQ 'LHVH /HEHQVNUDIW IOLH‰W YRQ VHOEVW GXUFK GLH HLQJHZHLKWHQ 5HLNL+lQGH ZDV LPPHU ZLU GDPLW EHUHLW VLQG ]X WXQ ZR LPPHU ZLU VLH DXIOHJHQ

%HLGH 5HLNL VRZLH (GHOVWHLQH VLQG QDWUOLFKH VWDUNH XQG NRQ]HQWULHUWH /LFKWNUlIWH GLH GDV J|WWOLFKH /LFKWEHZX‰WVHLQ ]X QHXHU /HEHQGLJNHLW LQ XQV HUZHFNHQ

',( (1767(+81* '(5 ('(/67(,1( $86 ,11(5(5 *(,67,*(5 6,&+7 

1RFK ODQJH EHYRU GLH (UGH VLFKWEDU ZXUGH HQWVWDQG LQ GHU :HOW GHV /LFKWHV HLQH ,GHH XQG HLQ 6FK|SIXQJVSODQ ]XU 9HUZLUNOLFKXQJ GLHVHU ,GHH $XV GHU (LQKHLW GHV /LFKWHV IRUPWHQ VLFK HLQH 9LHO]DKO XQWHUVFKLHGOLFKHU )DUEVWUDKOHQ XQG /LFKWZHVHQ GLH PLW GLHVHP )DUEVWUDKO YHUEXQGHQ VLQG -HGHU )DUEVWUDKO XQG MHGHV /LFKWZHVHQ VRUJHQ VHLWKHU GDIU GD‰ VLH VLFK HQWVSUHFKHQG LKUHU 6FKZLQJXQJ DXI GHU PDWHULHOOHQ (EHQH ]XP $XVGUXFN EULQJHQ N|QQHQ 'LH /LFKWZHVHQ GHU (GHOVWHLQH YHUEDUJHQ LKUH 0DQLIHVWDWLRQHQ WLHI LQ GHU 'XQNHOKHLW GHU (UGH QLFKW VLFKWEDU IU MHQH GHUHQ $XIPHUNVDPNHLW QLFKW LQ GLH 7LHIH JLQJ 8QDXIK|UOLFK EHJOHLWHWHQ GLHVH /LFKWZHVHQ GDV (QWVWHKHQ XQG :DFKVHQ LKUHV 6WHLQHV LP 6FKR‰ GHU (UGH KDOIHQ LKP GLH JHZDOWLJHQ 'UXFNYHUKlOWQLVVH DXV]XKDOWHQ VFKHQNWHQ LKP YRQ LKUHU OHXFKWHQGHQ )DUEH NRQ]HQWULHUWHQ LKQ LQ HLQHP XQHQGOLFK ODQJVDPHQ :DFKVWXPVSUR]H‰ 8QG VLH DFKWHWHQ GDUDXI GD‰ HU HLQ (EHQELOG LKUHU 6FKZLQJXQJ ZXUGH HLQ $XVGUXFN LKUHV /LFKWHV LKUHV JHLVWLJHQ IHLQVWRIIOLFKHQ 6HLQV=XVWDQGHV HLQJHEHWWHW LQ GLH %HGLQJXQJHQ XQG 0|JOLFKNHLWHQ 6WUXNWXUHQ )RUPHQ XQG )DUEHQ GHU JUREVWRIIOLFKHQ 6FKZLQJXQJHQ GHU (UGH

9ROOHU 9HUWUDXHQ XQG /LHEH VLFK LKUHU OHXFKWHQGHQ 6FK|QKHLW LP 9HUERUJHQHQ EHZX‰W ZDUWHQ GLH /LFKWZHVHQ GDUDXI ]7 EHU -DKUPLOOLRQHQ XQG -DKUWDXVHQGH ELV LKUH 0DQLIHVWDWLRQHQ GLH (GHOVWHLQH YRQ GHQ 0HQVFKHQ HQWGHFNW ZHUGHQ 6LH KHOIHQ 0XWWHU (UGH XQG LKUHQ 6WHLQ.LQGHUQ GDV JHZDOWVDPH +HUDXVKROHQ XQG /|VHQ DXV GHP 6FKR‰ GHU (UGH PLW +DPPHU XQG 0HL‰HO PLW 6SUHQJXQJ PLW %DJJHU ]X EHUVWHKHQ 8QG DXFK ZHQQ HLQ 6WHLQ JHVFKOLIIHQ ZLUG IKOHQ (QJHO VLFK YRQ GLHVHP EHZX‰WVHLQVHUK|KHQGHQ 9HUHGHOXQJVSUR]H‰ DQJH]RJHQ XQG EHJOHLWHQ GLHVHQ 9RUJDQJ GHU +HUYRUKHEXQJ XQG 9ROOHQGXQJ GHU 6FK|QKHLW GHV 6WHLQHV

8QG GDPLW VWHKHQ GLH /LFKWZHVHQ IU XQV EHUHLW XP (LQJDQJ LQ XQVHU %HZX‰WVHLQ ]X ILQGHQ ,Q DOWHQ .XOWXUHQ XQG 5HOLJLRQHQ KDEHQ (GHOVWHLQH XQG .ULVWDOOH HLQH EHVRQGHUH $FKWXQJ HUIDKUHQ GLH VLH LQ LKUHP $QVHKHQ

HUK|KWHQ LQGHP VLH QLFKW QXU DOV 6FKPXFN =LHUGH RGHU DOV :HUWJHJHQVWDQG EHDFKWHW ZXUGHQ VRQGHUQ DOV .UDIWWUlJHU *OFNVEULQJHU 7DOLVPDQ HWF *HUDGH LQ GHQ OHW]WHQ -DKUHQ VLQG YLHOH 0HQVFKHQ IU GLH YHUERUJHQHQ .UlIWH GLH IHLQVWRIIOLFKHQ 6FKZLQJXQJHQ GHU (GHOVWHLQH VR RIIHQ HPSIlQJOLFK XQG EHUHLW ZLH QRFK QLH ]XYRU 6R LVW HV P|JOLFK GD‰ MHW]W VHKU YLHOH /LFKWZHVHQ XQG (QJHO GHU (GHOVWHLQH IU LKU ODQJHV :DUWHQ EHORKQW ZHUGHQ XQG ]X GHQ 0HQVFKHQ XQG EHU GDV VLFK VWlUNHU HQWIDOWHQGH /LFKWEHZX‰WVHLQ GHV 0HQVFKHQ ]X LKUHU /LFKWDUEHLW DXI (UGHQ ILQGHQ

0LW MHGHP (GHOVWHLQ XQG .ULVWDOO GHQ LFK LQ GHU +DQG KDOWH ZLUG PLU GLHVHV :XQGHU GHU 6FK|SIXQJ EHZX‰WHU ELQ LFK PLW HLQHP 6WFN (ZLJNHLW LQ .RQWDNW PLW /LFKWNUlIWHQ GLH VHLW -DKUKXQGHUWHQ -DKUWDXVHQGHQ RGHU VRJDU

-DKUPLOOLRQHQ DXI PLFK JHZDUWHW KDEHQ

hEHU GLH 0|JOLFKNHLWHQ PLW GHQ /LFKWNUlIWHQ GHU 6WHLQH LQ 9HUELQGXQJ ]X NRPPHQ XQG LKUH 6FKZLQJXQJHQ IU +HLOXQJ XQG %HZX‰WVHLQVHQWIDOWXQJ ]X HUNHQQHQ XQG ]X QXW]HQ JLEW HV LQ]ZLVFKHQ VHKU YLHOH +LQZHLVH XQG /HKUHQ ,Q GLHVHP %XFK ZHUGH LFK ]HLJHQ ZLH GLH /LFKWNUlIWH YRQ (GHOVWHLQHQ XQG .ULVWDOOHQ EHU 5HLNL JDQ] QDWUOLFK DNWLYLHUW ZHUGHQ N|QQHQ  HLQH JDQ] EHVRQGHUH 0|JOLFKNHLW

5(,., 8563581* 81' :,('(5(17'(&.81* 

'LH .UlIWH YRQ 5HLNL HQWVSULQJHQ GHU JOHLFKHQ 4XHOOH ZLH GLH GHU (GHOVWHLQH XQG LKUH /LFKWNUlIWH $OOHV /HEHQ EHUKDXSW HQWVSULQJW GLHVHU 4XHOOH GHP J|WWOLFKHQ /LFKW ,P %HZX‰WVHLQ GHV 0HQVFKHQ LVW HLQ J|WWOLFKHU )XQNH DXV GLHVHP 8UPHHU GHV /LFKWHV XQG GHU /LHEH HUKDOWHQ JHEOLHEHQ GHU GDQDFK VWUHEW KLHU DXI (UGHQ ]X HLQHP /LFKW.DQDO IU GLH KHLOHQGH XQG HUIOOHQGH $OO/LHEH GHU XQLYHUVHOOHQ /HEHQVNUDIW ]X ZHUGHQ $XFK GLH 0HQVFKHQ VLQG ]XHUVW DOV ,GHH LP JHLVWLJHQ 6FK|SIXQJVSODQ HQWVWDQGHQ XQG GDQQ DOV $EELOG *RWWHV PLW GHP +|KHUHQ 6HOEVW JHVFKDIIHQ ZRUGHQ 'DV +|KHUH 6HOEVW GHV 0HQVFKHQ LVW LPPHU LQ GHU :HOW GHV /LFKWHV XQG EHJOHLWHW XQG IKUW GHQ 0HQVFKHQ XQG OHQNW LKQ LPPHU ZLHGHU ]XP /LFKW GXUFK DOOH ,QNDUQDWLRQHQ ZlKUHQG DOOHQ (UIDKUXQJHQ 6RODQJH ZLU GDV /LFKW QLFKW HUNHQQHQ QXU PLW XQVHUHQ lX‰HUHQ $XJHQ LP *UREVWRIIOLFKHQ VFKDXHQ VLQG ZLU DXFK ZLH GLH (GHOVWHLQH LQ GHU 'XQNHOKHLW GHU (UGH ZHLW HQWIHUQW YRQ XQVHUHP 8UVSUXQJ GHU J|WWOLFKHQ .UDIW GHU /LHEH $EHU GXUFK GLH 9HUEXQGHQKHLW PLW XQVHUHP +|KHUHQ 6HOEVW GDV LQ VHLQHU XQHQGOLFKHQ /LHEH XQVHUH 6HHOH EHUHLWV LQ YLHOHQ 9HUN|USHUXQJHQ XQG 6FKOHLIXQJVSUR]HVVHQ LQ DOOHQ (UGHQOHEHQ EHJOHLWHW KDW HUKDOWHQ ZLU LPPHU ZLHGHU &KDQFHQ XP EHZX‰WHU ]XP /LFKW ]X ILQGHQ

:LU N|QQHQ DXI GLUHNWH XQG JDQ] EHVRQGHUH :HLVH PLW XQVHUHP +|KHUHQ 6HOEVW XQG GDUEHU KLQDXV PLW GHU XQLYHUVHOOHQ /HEHQVHQHUJLH GHP 8UPHHU GHV /LFKWHV LQ .RQWDNW NRPPHQ EHU GHQ /LFKWNDQDO GHQ ZLU DXFK +HLOXQJVNDQDO QHQQHQ

-HGRFK KDEHQ ZLU GXUFK XQVHUH +DQGOXQJHQ *HGDQNHQ XQG *HIKOH GLHVHQ /LFKWNDQDO EORFNLHUW (UVW GLH ]XQHKPHQGH +LQZHQGXQJ ]XP J|WWOLFKHQ %HZX‰WVHLQ XQG GDV VLFK YHUVWlUNHQGH %HGUIQLV QDFK (LQKHLW +DUPRQLH XQG +HLOXQJ DNWLYLHUHQ /LFKWVFKZLQJXQJHQ GLH HV GHU J|WWOLFKHQ XQLYHUVHOOHQ /LFKWHQHUJLH HUP|JOLFKHQ ]X XQV ]X IOLH‰HQ 'HU .DQDO ZLUG ZLHGHU JH|IIQHW

,Q DOOHQ 5HOLJLRQHQ XQG KRKHQ .XOWXUHQ JHKW HV XP GLH +LQZHQGXQJ GHV 0HQVFKHQ ]XP /LFKW XP GLH :LHGHUYHUHLQLJXQJ PLW GLHVHU OHEHQVVSHQGHQGHQ KHLOHQGHQ XQLYHUVHOOHQ $OO/LHEH XP GLH (LQKHLW PLW *RWW $OOH 5HOLJLRQVEHJUQGHU KDEHQ ]X GLHVHU (LQKHLW JHIXQGHQ XQG JHEHQ LKUHQ 6FKOHUQ +LOIHQ HEHQIDOOV GLHVHQ :HJ ]X ILQGHQ (V LVW HLQ 8UEHGUIQLV XQVHUHU 6HHOH ZLHGHU LQ GLH /LFKWKHLPDW ]XUFN]XNHKUHQ XQG HLQ]HOQH EHUHLWV EHVRQGHUV VWDUN LP /LFKWEHZX‰WVHLQ HQWZLFNHOWH 6HHOHQ LQNDUQLHUHQ LPPHU ZLHGHU DXI (UGHQ XP GLH 0HQVFKHQ ]X XQWHUVWW]HQ DXV GHU 8QEHZX‰WKHLW KHUDXV]XILQGHQ XQG GDEHL DXFK DQGHUHQ ]X KHOIHQ

'LH (QWGHFNXQJ YRQ 5HLNL LVW DXFK DXI GLHVH 6HKQVXFKW GHU 6HHOH QDFK :LHGHUYHUHLQLJXQJ PLW GHP J|WWOLFKHQ /LFKW XQG VHLQHU DOOHV KHLOHQGHQ /LHEH ]XUFN]XIKUHQ

(QGH GHV  -DKUKXQGHUWV OHEWH XQG OHKUWH LQ -DSDQ HLQ 3ULHVWHU QDPHQV 0LNDR 8VXL (U ZDU /HLWHU HLQHU NOHLQHQ FKULVWOLFKHQ 8QLYHUVLWlW LQ .\RWR 'LH )UDJH HLQHV VHLQHU lOWHVWHQ 6FKOHU RE HU ZLVVH ZLH -HVXV JHKHLOW KDEH" NRQQWH HU QLFKW EHDQWZRUWHQ XQG VR ZXUGH VLH IU LKQ ]XU +HUDXVIRUGHUXQJ (U OHJWH VHLQ $PW DOV /HLWHU GHU 'RVKLVKD 8QLYHUVLWlW QLHGHU XQG EHJDE VLFK DXI GLH 6XFKH QDFK +LQZHLVHQ =XHUVW UHLVWH HU LQ GLH 86$ XQG HUZDUE DQ GHU 8QLYHUVLWlW YRQ &KLFDJR GHQ 'RNWRUJUDG LQ DOWHQ 6SUDFKHQ LQ GHQHQ HU QDFK GHU (QWVFKOVVHOXQJ GHV *HKHLPQLVVHV VXFKWH (U ZXUGH QLFKW IQGLJ XQG NHKUWH QDFK -DSDQ ]XUFN DOV LKP EHZX‰W ZXUGH GD‰ DXFK LQ GHU 7UDGLWLRQ GHV %XGGKLVPXV YRQ GHU +HLONUDIW %XGGKDV XQG VHLQHU 6FKOHU EHULFKWHW ZLUG (U EHVXFKWH YHUVFKLHGHQH .O|VWHU VWXGLHUWH MDSDQLVFKH hEHUVHW]XQJHQ EXGGKLVWLVFKHU 6FKULIWHQ XQG OHUQWH FKLQHVLVFK XP HLQHQ QRFK JU|‰HUHQ hEHUEOLFN EHU GLH EXGGKLVWLVFKHQ 6FKULIWHQ ]X HUKDOWHQ 'RFK HUVW VHLQH (QWVFKHLGXQJ 6DQVNULW ]X OHUQHQ GLH 6SUDFKH GHU lOWHVWHQ EXGGKLVWLVFKHQ 6FKULIWHQ IKUWH LKQ ]X $XI]HLFKQXQJHQ HLQHV 6FKOHUV YRQ %XGGKD ]X %HVFKUHLEXQJHQ )RUPHOQ XQG 6\PEROHQ ZLH %XGGKD JHKHLOW KDW 1DFK VLHEHQ -DKUHQ KDWWH 'U 8VXL JHIXQGHQ ZRQDFK HU VXFKWH 'RFK VHLQ :LVVHQ XP GLH 6\PEROH JHQJWH QRFK QLFKW XP PLW GHU KHLOHQGHQ JHLVWLJHQ .UDIW LQ .RQWDNW ]X NRPPHQ (U IROJWH GHP 5DW HLQHV DOWHQ )UHXQGHV HLQHP $EW XQG IDVWHWH XQG PHGLWLHUWH  7DJH DXI HLQHP GHU KHLOLJHQ %HUJH -DSDQV (UVW DP  7DJ NDP HLQ JHZDOWLJHU /LFKWVWUDKO YRP +LPPHO DXI LKQ ]X YRU GHP HU HLQHP HUVWHQ ,PSXOV IROJHQG DP OLHEVWHQ GDYRQJHODXIHQ ZlUH 'RFK SO|W]OLFK ZX‰WH HU GD‰ HV JHQDX GDV ZDU ZRQDFK HU JHVXFKW ZRUDXI HU JHZDUWHW KDWWH

(U ZXUGH YRQ GLHVHP /LFKW EHUKUW HUOHEWH HLQHQ YHUlQGHUWHQ %HZX‰WVHLQV]XVWDQG XQG VDK ]X %RGHQ VLQNHQG LQ VFKQHOOHU $EIROJH LQ /LFKWEODVHQ GLH YRQ LKP LQ VHLQHQ 6WXGLHQ HQWGHFNWHQ 6\PEROH GLH VLFK

IHVW LQ VHLQ %HZX‰WVHLQ HLQEUDQQWHQ XQG VLFK LKP DOV 6FKOVVHO ]XU J|WWOLFKHQ +HLONUDIW HUVFKORVVHQ

'U 8VXL QDQQWH GLHVH YRQ LKP ZLHGHUHQWGHFNWH .UDIW PLW GHU VFKRQ %XGGKD XQG -HVXV GXUFK +DQGDXIOHJHQ KHLOWHQ 5HLNL 'LHV LVW GHU MDSDQLVFKH $XVGUXFN IU XQLYHUVHOOH /HEHQVNUDIW (U JUQGHWH GDV 8VXL6\VWHP GHU QDWUOLFKHQ +HLOXQJ JDE YLHOHQ 0HQVFKHQ 5HLNL XQG XQWHUULFKWHWH GLHMHQLJHQ GLH PHKU EHU GLHVH .UDIW ZLVVHQ ZROOWHQ LQ GHU $QZHQGXQJ YRQ 5HLNL (U OHKUWH VLH DXFK VLFK VHOEVW ]X KHLOHQ LKUH /HEHQVZHLVH PLW +LOIH GHU YRQ LKP YHUID‰WHQ 5HLNL/HEHQVUHJHOQ ]X lQGHUQ XQG GDGXUFK ]X HLQHU DQGHUHQ /HEHQVHLQVWHOOXQJ ]X ILQGHQ

8QG ELV KHXWH ZLUG 5HLNL WUDGLWLRQVJHPl‰ QXU EHU (LQZHLKXQJHQ GXUFK 5HLNL0HLVWHU ZHLWHUJHJHEHQ XQG JHOHKUW

9RU VHLQHP hEHUJDQJ LQ GLH JHLVWLJH :HOW HUQDQQWH 'U 8VXL HLQHQ VHLQHU LKP XQG 5HLNL WLHI YHUEXQGHQHQ 6FKOHU 'U &KXMLUR +D\DVKL HLQHQ SHQVLRQLHUWHQ 0DULQHRIIL]LHU ]X VHLQHP 1DFKIROJHU ]XP 0HLVWHU GHV 5HLNL XQG YHUWUDXWH LKP GLH (VVHQ] YRQ 5HLNL DQ

'U +D\DVKL JUQGHWH HLQH 5HLNL.OLQLN LQ .\RWR XQG 7RNLR LQ GLH  DXFK GLH LQ +DZDLL OHEHQGH -DSDQHULQ +DZD\R 7DNDWD PLW HLQHU 7XPRUHUNUDQNXQJ NDP 6LH ZXUGH GXUFK 5HLNL JHKHLOW XQG VHOEVW ]XP 5HLNL.DQDO 6LH EOLHE HLQ -DKU ]XU $XVELOGXQJ DQ GHU .OLQLN XQG NHKUWH GDQQ QDFK +DZDLL ]XUFN ZR VLH 5HLNL SUDNWL]LHUWH ,P -DKU  NDP 'U +D\DVKL PHKUHUH 0RQDWH ]X LKU ELOGHWH VLH ZHLWHU DXV XQG ZHLKWH VLH YRU VHLQHU $EUHLVH LP )HEUXDU  DOV HUVWH XQG GDPDOV HLQ]LJH 3HUVRQ LQ GHQ 86$ ]XP 0HLVWHU GHV 'U 8VXL 5HLNL  +HLOV\VWHPV

9RU $XVEUXFK GHV .ULHJHV ]ZLVFKHQ GHQ 86$ XQG -DSDQ EHUJDE HU +DZD\R 7DNDWD LQ -DSDQ GLH (VVHQ] YRQ 5HLNL HUQDQQWH VLH ]XP 0HLVWHU GHV 5HLNL VRZLH ]X VHLQHU 1DFKIROJHULQ XQG YHUOLH‰ GDQQ LP .UHLV VHLQHU )DPLOLH XQG GHU LQ -DSDQ OHKUHQGHQ 5HLNL0HLVWHU VHLQHQ .|USHU

0LW +DZD\R 7DNDWD ZXUGH 5HLNL LP :HVWHQ EHNDQQW 6LH ELOGHWH  5HLNL0HLVWHU DXV GDUXQWHU DXFK 3K\OOLV /HL )XUXPRWR LKUH (QNHOLQ GLH VFKRQ DOV .LQG YRQ LKU LQ 5HLNL HLQJHZHLKW ZXUGH DEHU HUVW QDFK &ROOHJH XQG .DUULHUH LP $OWHU YRQ  -DKUHQ  EHUHLW ZDU ]XP 0HLVWHU HLQJHZHLKW XQG LQWHQVLY LQ 5HLNL XQWHUULFKWHW XQG DXVJHELOGHW ]X ZHUGHQ +DZD\R 7DNDWD HUQDQQWH VLH YRU LKUHP hEHUJDQJ LQ GLH JHLVWLJH :HOW  ]XP 0HLVWHU GHV 5HLNL XQG PLW GHU (VVHQ] YRQ 5HLNL ]X LKUHU 1DFKIROJHULQ 6HLWGHP WUlJW 3K\OOLV /HL )XUXPRWR GLH 9HUDQWZRUWXQJ IU 5HLNL ,Q]ZLVFKHQ VLQG YLHOH 5HLNL0HLVWHU YRQ LKU XQG DQGHUHQ 5HLNL0HLVWHUQ HLQJHZHLKW ZRUGHQ GHU]HLW

ZHLW EHU  GLH DXI GHU JDQ]HQ :HOW 5HLNL LQLWLLHUHQ XQG OHKUHQ 8QG GLH 5HLNL)DPLOLH ZLUG LPPHU JU|‰HU XQG Ol‰W XQV KLHU DXI (UGHQ LQ /LFKW XQG /LHEH YHUEXQGHQ VHLQ ZLH ZLU HV OlQJVW LQ GHU JHLVWLJHQ :HOW VLQG

',( 5(,.,/(%(165(*(/1

*HUDGH KHXWH VHL QLFKW lUJHUOLFK

*HUDGH KHXWH VRUJH 'LFK QLFKW

(KUH 'HLQH (OWHUQ /HKUHU XQG GLH bOWHUHQ

9HUGLHQH 'HLQ %URW HKUOLFK

(PSILQGH 'DQNEDUNHLW IU DOOHV /HEHQGLJH

'U 0LNDR 8VXL

',( (,1:(,+81* ,1 5(,., 

'DV %HVRQGHUH YRQ 5HLNL LVW GLH 5HLQLJXQJ XQG $NWLYLHUXQJ GHV +HLOXQJVNDQDOV EHU GLH =HUHPRQLH GHU (LQZHLKXQJ XQG GLH (LQIDFKKHLW GHU $QZHQGXQJ EHU GDV $XIOHJHQ GHU +lQGH

'LH 5HLNL(LQZHLKXQJ NDQQ QXU GXUFK HLQHQ 5HLNL0HLVWHU JHJHEHQ ZHUGHQ (U YHUZHQGHW GD]X 6\PEROH XQG 0DQWUHQ GLH YRQ 'U 8VXL ZLHGHUHQWGHFNW XQG YRQ 0HLVWHU ]X 0HLVWHU ZHLWHUJHJHEHQ ZHUGHQ

$OOHLQ GDV %HGUIQLV +HLOXQJVNDQDO IU VLFK VHOEVW RGHU IU DQGHUH ]X VHLQ JHQJW XP LQ HLQHU 6FKZLQJXQJ ]X VHLQ GLH ]X 5HLNL IKUW -HGHU GHU ]XU 5HLNL(LQZHLKXQJ NRPPW LVW LQQHUOLFK PHKU RGHU ZHQLJHU EHZX‰W EHUHLW XQG YRUEHUHLWHW 5HLNL ]X HPSIDQJHQ 0LW VHLQHU $XVVWUDKOXQJ LVW HU ]X 0HQVFKHQ XQGRGHU 6FKULIWHQ JHIKUW ZRUGHQ GLH VHLQ %HZX‰WVHLQ IU 5HLNL VHQVLELOLVLHUW KDEHQ

6LHKH GD]X DXFK 3DXOD +RUDQ 5HLNL0HLVWHULQ 'LH 5HLNL.UDIW XQG %RGR

- %DJLQVNL XQG 6KDOLOD 6KDUDPRQ 5HLNL 8QLYHUVHOOH /HEHQVNUDIW

'LH (LQZHLKXQJ LQ 5HLNL XQWHUVWW]W YHUVWlUNW XQG EHVLHJHOW GLH GLUHNWH NUDIWYROOH XQG NRQ]HQWULHUWH 9HUELQGXQJ PLW GHU XQLYHUVHOOHQ /HEHQVNUDIW Ol‰W XQV ]XP .DQDO 9HUPLWWOHU XQG 7UDQVIRUPDWRU GLHVHU JHLVWLJHQ +HLONUDIW ZHUGHQ VR GD‰ VLH DXI DOOHQ (EHQHQ *HLVW 6HHOH .|USHU HPSIDQJHQ XQG JHQXW]W ZHUGHQ NDQQ XQG ]ZDU VR ZLH HV YRP (PSIDQJHQGHQ JHEUDXFKW XQG GXUFK VHLQH $XVVWUDKOXQJ GLUHNW HLQGHXWLJ XQG XQPL‰YHUVWlQGOLFK DQ GDV 8QLYHUVXP VLJQDOLVLHUW ZLUG

5HLNL ZLUG DXV GHU 7UDGLWLRQ KHUDXV LQ ]ZHL *UDGHQ GXUFK (LQZHLKXQJ ZHLWHUJHJHEHQ XQG JHOHKUW

',( 5(,.,(,1:(,+81* ,1 '(1 , *5$'

0LW GHU (LQZHLKXQJ GXUFK HLQHQ 5HLNL0HLVWHU LQ GHQ , 5HLNLJUDG ZLUG GHU (LQJHZHLKWH EHU YLHU DXIHLQDQGHUIROJHQGH (LQVWLPPXQJHQ ZLHGHU YROONRPPHQ PLW GHU XQLYHUVHOOHQ /HEHQVNUDIW GHP /LFKW GHV /HEHQV LQ 9HUELQGXQJ JHEUDFKW EHU GLH 5HLQLJXQJ XQG $NWLYLHUXQJ VHLQHV +HLOXQJVNDQDOV 'LHV EULQJW JOHLFK]HLWLJ HLQH LQWHQVLYH /LFKWGXUFKIOXWXQJ GHV SK\VLVFKHQ .|USHUV XQG VHLQHV (QHUJLHV\VWHPV PLW VLFK (LQH JUR‰H 5HLQLJXQJ GLH  7DJH ODQJ DQKlOW GXUFKIOXWHW GDEHL XQVHUHQ .|USHU DOWH 6FKPHU]HQ XQG /HLGHQ N|QQHQ DOV +HLOUHDNWLRQ ZLHGHU DXIWDXFKHQ XQG XQV KHUDXVIRUGHUQ XQV VHOEVW YLHO 5HLNL ]X JHEHQ $EHU DXFK %ORFNDGHQ XQG bQJVWH N|QQHQ VLFK LQ GLHVHU EHVRQGHUHQ 5HLQLJXQJVSKDVH ]HLJHQ 6LH NRPPHQ GXUFK 5HLNL ZLHGHU DQV /LFKW XQG ZHUGHQ HLQH QHXH $XVHLQDQGHUVHW]XQJ PLW XQVHUHQ 9HUKDOWHQVZHLVHQ PLW VLFK EULQJHQ

%HUHLWV PLW GHP , 5HLNLJUDG LVW GHU 5HLNL(LQJHZHLKWH GXUFK VHLQHQ EHVRQGHUV DNWLYLHUWHQ +HLOXQJVNDQDO LQ VWDUNHP .RQWDNW PLW GHU XQLYHUVHOOHQ /HEHQVNUDIW XQG 5HLNL IOLH‰W NUDIWYROO GXUFK VHLQH HLQJHZHLKWHQ +lQGH

:R LPPHU HLQ 5HLNL.DQDO VR ZLUG GHU 5HLNL(LQJHZHLKWH RIW EH]HLFKQHW VHLQH +lQGH DXIOHJW IOLH‰W 5HLNL YRQ VHOEVW XQG ]ZDU VR ZLH HV GHU (PSIDQJHQGH EUDXFKW XQG GXUFK VHLQH 6FKZLQJXQJHQ DQ]LHKW

0LW GHU (LQZHLKXQJ HUKlOW GHU 5HLNL6FKOHU DXFK 8QWHUZHLVXQJHQ LQ GHU $QZHQGXQJ YRQ 5HLNL XQG ZLH HU GLH +lQGH EHL VLFK VHOEVW RGHU DQGHUHQ DXIOHJHQ NDQQ XP HLQ RSWLPDOHV )OLH‰HQ YRQ 5HLNL ]X HUP|JOLFKHQ XQG LP 8PJDQJ PLW GLHVHU .UDIW DXI QDWUOLFKH XQG HLQIDFKH :HLVH YHUWUDXWHU ]X ZHUGHQ 'LH 5HLNL+DQGSRVLWLRQHQ VLQG NHLQ *HKHLPQLV XQG N|QQHQ YRQ MHGHP DXFK RKQH 5HLNL(LQZHLKXQJ JHQXW]W ZHUGHQ 'RFK LVW GLHV QLFKW PLW 5HLNL

]X YHUZHFKVHOQ XQG DXFK NHLQ (UVDW] IU GLH (LQZHLKXQJ LQ 5HLNL GLH GHQ +HLOXQJVNDQDO XQG GDV (QHUJLHQLYHDX GHV (LQJHZHLKWHQ LQ HLQH GDXHUKDIWH /LFKWVFKZLQJXQJ EULQJW GLH GHQ KHLOHQGHQ J|WWOLFKHQ (QHUJLHIOX‰ GXUFK GLH +lQGH DXI QDWUOLFKH :HLVH MHGHU]HLW ZLH YRQ VHOEVW VWU|PHQ Ol‰W RKQH $QVWUHQJXQJ RKQH 9LVXDOLVLHUXQJ RKQH $NWLYLHUXQJ RGHU $XIUHFKWHUKDOWXQJ LQQHUHU %LOGHU RGHU 9RUVWHOOXQJHQ

0LW GHU (LQZHLKXQJ ZLUG GHP 5HLNL6FKOHU YHUPLWWHOW GD‰ HU QXU .DQDO IU 5HLNL IU GLH XQLYHUVHOOH /HEHQVNUDIW LVW GLH DXV K|FKVWHU J|WWOLFKHU 4XHOOH GXUFK LKQ IOLH‰W IU VLFK VHOEVW RGHU DQGHUH 'DEHL EHVWLPPHQ QLFKW ZLU PLW XQVHUHP EHJUHQ]WHQ 9HUVWDQG ZLH VLFK GLHVH .UDIW DXVZLUNHQ VROO YLHOPHKU EHUODVVHQ ZLU HV XQVHUHU K|KHUHQ )KUXQJ 9ROOHU 9HUWUDXHQ XQG LP :LVVHQ GD‰ HV JHQDX LQ GHU EHQ|WLJWHQ ,QWHQVLWlW LQ GLH %HUHLFKH IOLH‰W ZR HV JHEUDXFKW ZLUG VLQG ZLU OHGLJOLFK GHU .DQDO

',( 5(,.,(,1:(,+81* ,1 '(1 ,, *5$'

'LH (LQZHLKXQJ LQ GHQ ,, 5HLNLJUDG HUIROJW GXUFK HLQHQ 5HLNL0HLVWHU PLW HLQHU (LQVWLPPXQJ hEHUJDEH XQG $XVELOGXQJ LQ GHU $QZHQGXQJ GHU 5HLNL6\PEROH LQ GHU )RUP ZLH VLH YRQ 'U 8VXL HQWGHFNW JHOHKUW XQG ZHLWHUJHJHEHQ ZXUGHQ 'LHVH (LQZHLKXQJ LQWHQVLYLHUW GLH 9HUELQGXQJ PLW 5HLNL XQG HUK|KW GLH /LFKWVFKZLQJXQJHQ LQ XQVHUHP +HLOXQJVNDQDO XQG LQ MHGHP XQVHUHU (QHUJLHN|USHU 'LH $XVVWUDKOXQJ HLQHV LQ GHQ ,, *UDG HLQJHZHLKWHQ 5HLNL6FKOHUV ZLUG GDGXUFK VHKU YLHO VWlUNHU XQG NRQ]HQWULHUWHU LQ VHLQHU /LFKWVFKZLQJXQJ $XFK GLHVHU (LQZHLKXQJ IROJHQ  7DJH GHU 5HLQLJXQJ GLH HQWVSUHFKHQG GHU VWDUNHQ /LFKWGXUFKIOXWXQJ DOOHU (QHUJLHN|USHU HLQH VWDUNH $XVHLQDQGHUVHW]XQJ PLW XQV VHOEVW IRUGHUW XQVHUHQ 6HOEVWNRQ]HSWHQ (UZDUWXQJHQ XQG ,GHDOHQ HUVWDUUWHQ 9HUKDOWHQVZHLVHQ9HUKDOWHQVPXVWHUQ YHUOHW]WHQ *HIKOHQ XQG EHODVWHQGHQ /HEHQVJHZRKQKHLWHQ

0LW GHU HUK|KWHQ /LFKWVFKZLQJXQJ LP +HLOXQJVNDQDO XQG LQ DOO XQVHUHQ (QHUJLHN|USHUQ VRZLH GXUFK GLH $QZHQGXQJ GHU 6\PEROH IOLH‰W 5HLNL VHKU YLHO NRQ]HQWULHUWHU GXUFK GHQ 5HLNL.DQDO 'LH VSLULWXHOOH (QWZLFNOXQJ VRZLH GLH 8PVHW]XQJ XQG (QWIDOWXQJ JHLVWLJHU (UNHQQWQLVVH XQG .UlIWH LP WlJOLFKHQ /HEHQ ZLUG GDPLW LQWHQVLYLHUW XQG EHVFKOHXQLJW *OHLFK]HLWLJ LVW HV GHP 6FKOHU GHV ,, *UDGHV P|JOLFK VLFK GXUFK GLH HUK|KWH /LFKWVFKZLQJXQJ LQ VHLQHP 5HLNL.DQDO XQG EHU GLH $QZHQGXQJ GHU 6\PEROH QHXH 'LPHQVLRQHQ GHV J|WWOLFKHQ 6HLQV ]X HUVFKOLH‰HQ GLH XQLYHUVHOOH /HEHQVNUDIW NRQ]HQWULHUW DQ MHGHP EHOLHELJHQ 2UW ]X YHUVWlUNHQ XQEHZX‰WH 9RUJlQJH VWlUNHU LQV %HZX‰WVHLQ ]X KHEHQ 0HQWDO XQG )HUQKHLOXQJHQ ]X JHEHQ GDV *|WWOLFKH LQ VHLQHQ (UVFKHLQXQJVIRUPHQ XQG 0DQLIHVWDWLRQHQ ]X

EHJU‰HQ 5HLNL LQ HLQH 6LWXDWLRQ LQ HLQHQ 5DXP LQ HLQH %HJHJQXQJ LQ HLQH (UIDKUXQJ DQ HLQH 3HUVRQ HLQHQ 6WHLQ HLQ 7LHU HLQH 3IODQ]H HLQ /LFKWZHVHQ HLQHQ (QJHO HLQ +|KHUHV 6HOEVW ]X VHQGHQ 'DULQ VWHFNW HLQ XQHUVFK|SIOLFKHV 3RWHQWLDO GHQQ XQDEKlQJLJ GDYRQ ZR ZLU XQV JHUDGH EHILQGHQ RGHU ZDV ZLU WXQ N|QQHQ ZLU 5HLNL DXVVHQGHQ :LU OHJHQ GDEHL  ZLH DXFK EHLP GLUHNWHQ 5HLNL*HEHQ GXUFK +DQGDXIOHJHQ  QLFKW IHVW ZDV 5HLNL EHLP (PSIDQJHQGHQ EHZLUNHQ VROO VRQGHUQ VWHOOHQ LKP GLHVH .UDIW HLQIDFK ]XU 9HUIJXQJ LP 9HUWUDXHQ XQG :LVVHQ GD‰ GLH J|WWOLFKH :HLVKHLW LQ 5HLNL XQG LP (PSIDQJHQGHQ DP EHVWHQ ZHL‰ ZDV PLW 5HLNL XQWHUVWW]W ZHUGHQ VROO

'LH (LQZHLKXQJHQ LQ 5HLNL VFKDIIHQ DXI QDWUOLFKH :HLVH GXUFK GDV $XIOHJHQ GHU +lQGH E]Z GHU .RQ]HQWUDWLRQ GHU XQLYHUVHOOHQ /HEHQVHQHUJLH HLQH %DVLV IU GDV .DQDO6HLQ :DV VLFK DXV GHU *UXQGODJH GLHVHV )XQGDPHQWHV GDQQ HQWIDOWHW KlQJW JDQ] YRQ GHU 5HLNL$QZHQGXQJ DE 'DIU WUlJW MHGHU 5HLNL(LQJHZHLKWH VHOEVW 9HUDQWZRUWXQJ (EHQIDOOV OLHJW HV DXFK DQ LKP RE HU GLHVH *DEHQ EUDFK OLHJHQ Ol‰W RGHU RE HU LKU :DFKVWXP ]XOl‰W

',( 9(5%,1'81* 921 5(,., 0,7 ('(/67(,1(1 

(GHOVWHLQH VLQG OHEHQGLJH SXOVLHUHQGH 6FKZLQJXQJHQ DXFK ZHQQ VLH XQV VWDUU XQG OHEORV HUVFKHLQHQ ,KUH 6FKZLQJXQJHQ VLQG HQWVSUHFKHQG LKUHP (UVFKHLQXQJVELOG XQG LKUHU =XVDPPHQVHW]XQJ VHKU IDUELQWHQVLY NRQ]HQWULHUW H[DNW IHVWJHOHJW LQ 6WUXNWXUHQ 0XVWHUQ XQG )RUPHQ :HQQ ZLU GLH IHLQVWRIIOLFKHQ /LFKWNUlIWH GHU (GHOVWHLQH XQG .ULVWDOOH EHUKUHQ DNWLYLHUHQ XQG ]X XQV OHQNHQ ZROOHQ PVVHQ ZLU VLH PLW /LFKW XQG /LHEH EHJU‰HQ :LU LQWHQVLYLHUHQ GDGXUFK LKUH OLFKWYROOH $XVVWUDKOXQJ :LU N|QQHQ GDV DXI YHUVFKLHGHQH $UW XQG :HLVH WXQ ]% 5LWXDOH 9LVXDOLVLHUXQJHQ 3URJUDPPLHUXQJHQ (LQH VHKU NUDIWYROOH HLQIDFKH QDWUOLFKH XQG NRQ]HQWULHUWH $NWLYLHUXQJ GHU /LFKWHQHUJLHQ GHU (GHOVWHLQH JHVFKLHKW GXUFK 5HLNL

8QVHUH HLQJHZHLKWHQ 5HLNL+lQGH VWUDKOHQ VHKU LQWHQVLY /LFKW XQG /LHEH DXV ZDV LPPHU VLH LQ GLHVHP %HZX‰WVHLQ EHUKUHQ :HQQ ZLU DOV 5HLNL.DQDO HLQHQ (GHOVWHLQ LQ GLH +DQG QHKPHQ IKOW HU VLFK VRIRUW JHOLHEW DQJHQRPPHQ PLW /LFKW XQG /LHEH GXUFKIOXWHW ,Q GLHVHU /LFKWDNWLYLHUXQJ NDQQ HU VLFK VRIRUW LQ VHLQHP J|WWOLFKHQ /HXFKWHQ XQG 6WUDKOHQ HQWIDOWHQ XQG HLQHQ LQQLJHQ =XJDQJ ]X XQV ILQGHQ

(V LVW IU HLQHQ (GHOVWHLQ ZXQGHUVFK|Q PLW 5HLNL EHUKUW ]X ZHUGHQ 6HLQH OLFKWGXUFKIOXWHWH OHXFKWHQGH )DUEVFKZLQJXQJ UHLFKW ZHLW KLQDXV LQ GDV

8QLYHUVXP LQ GHQ JUR‰HQ (QHUJLHVWURP VHLQHV )DUEVWUDKOV +LHU ZLUG HU YRQ VHLQHQ /LFKWZHVHQ OLHEHYROO HPSIDQJHQ 'HU (GHOVWHLQ KDW VHLQH K|FKVWH (UIOOXQJ HUUHLFKW ZHQQ HU HLQHQ 0HQVFKHQ JHIXQGHQ KDW XQG EHU GHVVHQ /LFKW%HZX‰W6HLQ DXIVWHLJHQ XQG PLW GHU JHLVWLJHQ :HOW ZLHGHU HLQV VHLQ GDUI *UR‰ LVW GLH )UHXGH GHU :LHGHUYHUHLQLJXQJ LP /LFKW JUR‰ LVW DXFK GLH 'DQNEDUNHLW IU GHQ 0HQVFKHQ GHU GXUFK VHLQ /LFKWNDQDO6HLQ GXUFK 5HLNL GLHVH +HLPNHKU HUP|JOLFKW KDW XQG XQHQGOLFK OLHEHYROO XQG KHLOVDP LVW GHU 6HJHQ GHU ]XU (UGH XQG ]XP 5HLNL*HEHQGHQ XQG (PSIDQJHQGHQ GDGXUFK ]XUFNNRPPW

:HQQ GLH /LFKWVFKZLQJXQJHQ LQ XQVHUHP 5HLNL.DQDO LQ XQVHUHQ (QHUJLHN|USHUQ XQG LQ XQVHUHQ +lQGHQ PLW GHU (LQZHLKXQJ LQ GHQ ,, *UDG QRFK VWlUNHU HUK|KW XQG NRQ]HQWULHUW VLQG N|QQHQ ZLU EHU GLH $QZHQGXQJ GHU 6\PEROH GLH /LFKWNUDIW GHV 6WHLQHV XQG GDPLW GLH ,QWHQVLWlW VHLQHV /HXFKWHQV XQG 6WUDKOHQV DOVR VHLQH :LUNXQJ YHUVWlUNHQ :LU HUKDOWHQ HLQH LQWXLWLYH %RWVFKDIW YRP 6WHLQ NRPPHQ PLW GHP J|WWOLFKHQ :HVHQ GHV 6WHLQHV LQ %HUKUXQJ XQG YHUVFKPHO]HQ PLW LKP

:LUG HLQ (GHOVWHLQ GXUFK GLH 6\PEROH YRQ HLQHP LQ GHQ ,, 5HLNLJUDG (LQJHZHLKWHQ EHJU‰W DNWLYLHUW XQG YHUVWlUNW NDQQ VLFK VHLQH GDUDXIKLQ LP JUR‰HQ (QHUJLHVWURP VHLQHV )DUEVWUDKOV DXIVWHLJHQGH 6FKZLQJXQJ ELV ]X VHLQHP K|FKVWHQ /LFKWZHVHQ HUKHEHQ 'LHVH ZLHGHUJHIXQGHQH (LQKHLW O|VW HLQH JHZDOWLJH /LFKWZHOOH YROOHU )UHXGH /HEHQGLJNHLW XQG 6FK|QKHLW DXV GLH GXUFK DOOH (EHQHQ ELV ]XU (UGH IOXWHW XQG EHUDOO HLQHQ VHJHQVUHLFKHQ *ODQ] KLQWHUOl‰W

5HLNL ZLUNW DOVR DXI HLQIDFKH XQG QDWUOLFKH :HLVH VHKU EHOHEHQG XQG OLFKWDNWLYLHUHQG DXI GHQ 6WHLQ XQG HUP|JOLFKW LKP VR VLFK VHLQHU K|FKVWHQ %HVWLPPXQJ HQWVSUHFKHQG ]X HQWIDOWHQ XQG GXUFK VHLQ VWDUN DNWLYLHUHQGHV /HXFKWHQ XQG 6WUDKOHQ LQ VHLQHQ )DUEVWUDKO DXV GHP HU JHVFKDIIHQ ZXUGH DXI]XVWHLJHQ

'HQQ EH]LHKHQ ZLU (GHOVWHLQH XQG .ULVWDOOH LQ 5HLNL HLQ YHUVWlUNHQ NRQ]HQWULHUHQ XQG GLIIHUHQ]LHUHQ VLH GHQ 6WUDKO GHU XQLYHUVHOOHQ /HEHQVNUDIW 6LH OHQNHQ HLQHQ 7HLO GHV GXUFK XQV IOLH‰HQGHQ 5HLNL LQ GHQ %HUHLFK LQ GHP GLH 6WHLQH DXIOLHJHQ XQG YHUVWU|PHQ DQ GLHVHU 6WHOOH GLH VHKU LQWHQVLYH 6FKZLQJXQJ LKUHU OHXFKWHQGHQ (QHUJLH 'DEHL HUP|JOLFKHQ VLH HV GD‰ GLH /LFKWZHVHQ GHV )DUEVWUDKOV ]XU 8QWHUVWW]XQJ GHU 5HLNL(GHOVWHLQ%HKDQGOXQJ KLQ]XNRPPHQ

'HU 0HQVFK UHDJLHUW RE HU HV EHZX‰W ZDKUQLPPW RGHU QLFKW VHKU VWDUN DXI )DUEHQ :LU QHKPHQ )DUEHQ QLFKW EHU XQVHUH $XJHQ ZDKU VRQGHUQ DXFK EHU XQVHUH (QHUJLH]HQWUHQ GLH XQDXIK|UOLFK IHLQVWRIIOLFKH 6FKZLQJXQJHQ

DXIQHKPHQ XQG DEJHEHQ

%HL GHQ 5HLNL+DQGSRVLWLRQHQ ZHUGHQ GLHVH (QHUJLH]HQWUHQ JDQ] EHVRQGHUV EHGDFKW GLH +lQGH ZHUGHQ PLWHLQDQGHU DXI DOOH (QHUJLH]HQWUHQ DXIJHOHJW

:HUGHQ DXI HLQHV RGHU PHKUHUH (QHUJLH]HQWUHQ EHLP 5HLNL*HEHQ (GHOVWHLQH DXIJHOHJW YHUGLFKWHW VLFK GXUFK GLH NRQ]HQWULHUWH (QHUJLH 0DWHULH XQG /LFKWVWUDKOXQJ GHU (GHOVWHLQH GLH 8PVHW]XQJ GHU (QHUJLH 'DGXUFK ZLUG 5HLNL YHUVWlUNW DQJH]RJHQ XQG DXIJHQRPPHQ 5HLNL XQG GLH DNWLYLHUWHQ KHOO OHXFKWHQGHQ )DUEVFKZLQJXQJHQ GHU (GHOVWHLQH IOLH‰HQ GDQQ JHPHLQVDP XQG YHUVWlUNW LQ GDV (QHUJLH]HQWUXP LQ GHP GHU 6WHLQ XQWHU 5HLNL DXVVWUDKOHQGHQ +lQGHQ OLHJW

',( $86:$+/ '(5 ('(/67(,1( 

%HYRU ZLU 5HLNL LQ 9HUELQGXQJ PLW (GHOVWHLQHQ JHEHQ VROOWHQ ZLU XQV ]XYRU GHU :HOW GHU (GHOVWHLQH XQG LKUHQ )DUEVWUDKOHQ XQG /LFKWZHVHQ ]XZHQGHQ GLH GXUFK GLH 3UlVHQ] GHU YRU XQV OLHJHQGHQ 6WHLQH XQG GHU YRQ XQV DXVVWUDKOHQGHQ 5HLNL6FKZLQJXQJ JHJHQZlUWLJ VLQG

%HJU‰XQJ :LU EHJU‰HQ GLH (GHOVWHLQH LQ LKUHU 6FK|QKHLW XQG OHXFKWHQGHQ $XVVWUDKOXQJ VLQG XQV HLQHQ $XJHQEOLFN EHZX‰W GD‰ VLH HLQ 6WFN (ZLJNHLW PDQLIHVWLHUWHU OHEHQGLJHU OHXFKWHQGHU *HLVW VLQG :LU ZUGLJHQ GDPLW LKU J|WWOLFKHV :HVHQ ]HLJHQ 'DQNEDUNHLW GDIU GD‰ VLH IU XQV GD VLQG GDQNHQ LKUHU +LQJDEH XQG %HUHLWVFKDIW XQV ]X KHOIHQ

$XVZDKO (V JLEW VHKU YLHOH 0|JOLFKNHLWHQ (GHOVWHLQH IU HLQH 5HLNL6HOEVWEHKDQGOXQJ DXV]XZlKOHQ +LHU]X HLQLJH $QUHJXQJHQ :LU ZlKOHQ LQWXLWLY HLQHQ (GHOVWHLQ DXV XQG ELWWHQ XP LQQHUH )KUXQJ ZR ZLU LKQ DXIOHJHQ VROOHQ 2GHU ZLU OHJHQ LKQ DXI HLQ (QHUJLH]HQWUXP GDV GLH )DUEH GLHVHV 6WHLQHV JDQ] EHVRQGHUV EUDXFKW +LHUEHL VWUDKOW GLH /LFKWVFKZLQJXQJ GHV (GHOVWHLQV EHLP 5HLNL*HEHQ YRQ GHU 6WHOOH DXI GHU HU DXIOLHJW LQWHQVLY DXV XQG IOLH‰W YRQ GD DXV PLW GHP /LFKW XQG /LHEHVVWURP YRQ 5HLNL VDQIW LQ DOO GLH %HUHLFKH GLH 5HLNL EUDXFKHQ XQG DQ]LHKHQ

(,1( %(621'(5( )250

:LU N|QQHQ DXFK HLQHQ EHVRQGHUV JHIRUPWHQ (GHOVWHLQ DXVZlKOHQ EHLVSLHOVZHLVH HLQH .XJHO HLQ (L HLQH 3\UDPLGH HLQHQ 2EHOLVN HLQHQ IDFHWWLHUWHQ PXJHOLJHQ RGHU DXVNULVWDOOLVLHUWHQ (GHOVWHLQ

'LH /LFKWHQHUJLH GLHVHV (GHOVWHLQHV ZLUG ZlKUHQG GHU JHVDPWHQ 5HLNL6HOEVW %HKDQGOXQJ LQ GHQ EHUJHRUGQHWHQ %HUHLFK HLQHV XQVHUHU (QHUJLHN|USHU JHOHQNW

*/(,&+( )250 81' 817(56&+,('/,&+( 6758.785(1

:LU N|QQHQ PHKUHUH (GHOVWHLQH GHUVHOEHQ )RUP LQ XQWHUVFKLHGOLFKHQ 6WHLQDUWHQ DXVZlKOHQ EHLVSLHOVZHLVH GUHL 3\UDPLGHQ HLQH DXV %HUJNULVWDOO HLQH DXV &LWULQ HLQH DXV $PHWK\VW :LU OHJHQ VLH EHLP 5HLNL*HEHQ DXI GUHL YHUVFKLHGHQHQ (QHUJLH]HQWUHQ DXI 'DEHL ZLUG GLH 3\UDPLGHQ(QHUJLH LQ GUHL YHUVFKLHGHQHQ $VSHNWHQ DNWLYLHUW ,Q GLHVHP )DOO DOVR LQ GHU 0DQLIHVWDWLRQ YRQ :HLVKHLW %HUJNULVWDOO  0XW XQG 6HOEVWYHUWUDXHQ &LWULQ  ,QWXLWLRQ XQG 6SLULWXDOLWlW $PHWK\VW  8QG ]ZDU QRFKPDOV GLIIHUHQ]LHUW GXUFK GDV MHZHLOLJH (QHUJLH]HQWUXP LQ GHP GLH 3\UDPLGH DXIOLHJW

(,1( 67(,1$57 ,1 9(56&+,('(1(1 )250(1

:LU N|QQHQ DXFK PHKUHUH (GHOVWHLQH GHUVHOEHQ $UW LQ YHUVFKLHGHQHQ )RUPHQ DXVZlKOHQ EHLVSLHOVZHLVH HLQ (L HLQH .XJHO HLQH 3\UDPLGH XQG HLQHQ 2EHOLVN DXV 5RVHQTXDU] :LU OHJHQ ]XP 5HLNL*HEHQ GDV (L ]% DXI GDV  GLH .XJHO DXI GDV  GLH 3\UDPLGH DXI GDV  XQG VWHOOHQ GHQ 2EHOLVNHQ KLQWHU GHQ .RSI DXI GDV  (QHUJLH]HQWUXP RGHU ]ZLVFKHQ GLH )‰H )X‰]HQWUHQ  'LH 4XDOLWlW GHV 5RVHQTXDU] (UEOKHQ LQ EHGLQJXQJVORVHU /LHEH :LGHUVWlQGH XQG %ORFNDGHQ GDKLQVFKPHO]HQGH VDQIWH .UDIW IOLH‰W EHU GLH EHVRQGHUHQ )RUPHQ GHV (GHOVWHLQV LQ KRKH VHKU OLFKWYROOH URVDIDUEHQH 6FKZLQJXQJHQ XQVHUHU (QHUJLHN|USHU XQG LQ GLH .|USHU'UVHQEHUHLFKH GLH PLW GHP MHZHLOLJHQ (QHUJLH]HQWUXP LQ :HFKVHOZLUNXQJ VWHKHQ

1(81 67(,1( 817(56&+,('/,&+(5 )$5%(

:LU N|QQHQ  YHUVFKLHGHQIDUELJH (GHOVWHLQH DXVZlKOHQ :LU OHJHQ VLH HQWVSUHFKHQG LKUHU )DUEH DXI GLH  +DXSW XQG GLH ]ZHL ZLFKWLJHQ 1HEHQ]HQWUHQ DXI %HLVSLHOVZHLVH HLQHQ VFKZDU]ZHL‰HQ (GHOVWHLQ 6FKQHHIORFNHQREVLGLDQ RGHU 7XUPDOLQTXDU] ]ZLVFKHQ GLH )‰H ]XU $NWLYLHUXQJ GHU )X‰]HQWUHQ HLQHQ URWHQ 6WHLQ -DVSLV +lPDWLW *UDQDW RGHU 5XELQ LQ GDV  (QHUJLH]HQWUXP HLQHQ RUDQJHIDUEHQHQ 6WHLQ .DUQHRO LQ GDV  (QHUJLH]HQWUXP HLQHQ JHOEHQ 6WHLQ 7LJHUDXJH %HUQVWHLQ 3\ULW &LWULQ (GHOWRSDV RGHU 5XWLOTXDU] LQ GDV  (QHUJLH]HQWUXP HLQHQ JUQHQ XQG HLQHQ URVDIDUEHQHQ 6WHLQ &KU\VRNROO 0DODFKLW 0RRVDFKDW -DGH

&KU\VRSUDV &KU\VREHU\OO 2OLYLQ &DOFLW 6PDUDJG RGHU 7XUPDOLQ HLQHQ 5KRGRQLW 5KRGRFKURVLW 5RVHQTXDU] RGHU .XQ]LW LQ GDV  (QHUJLH]HQWUXP HLQHQ KHOOEODXHQ 6WHLQ 7UNLV /DULPDU &KDO]HGRQ EODXHU (GHOWRSDV RGHU $TXDPDULQ LQ GDV  (QHUJLH]HQWUXP HLQHQ GXQNHOEODXHQ 6WHLQ )DONHQDXJH 6RGDOLWK $]XULW /DSLVOD]XOL RGHU 6DSKLU LQ GDV  (QHUJLH]HQWUXP HLQHQ YLROHWWHQ 6WHLQ 6XJJLOLWK RGHU $PHWK\VW LQ GDV  (QHUJLH]HQWUXP HLQHQ %HUJNULVWDOO LQ HLQH +DQG +DQG(QHUJLH]HQWUHQ 

'DEHL HUKlOW MHGHV (QHUJLH]HQWUXP ]XU $QUHJXQJ XQG 8QWHUVWW]XQJ VHLQHU +DXSWIXQNWLRQ GLH HQWVSUHFKHQGH )DUEHQHUJLH EHU GHQ (GHOVWHLQ 'LHV LVW HLQH RSWLPDOH XQG JDQ]KHLWOLFKH $NWLYLHUXQJ 5HLQLJXQJ $XIODGXQJ XQG +DUPRQLVLHUXQJ GHU (QHUJLH]HQWUHQ XQG XQVHUHV JHVDPWHQ (QHUJLHV\VWHPV 'LHVH $NWLYLHUXQJ VROOWH QXU HLQPDO Z|FKHQWOLFK JHVFKHKHQ

'LHV LVW VHKU DXVIKUOLFK EHVFKULHEHQ LQ PHLQHP %XFK 'LH *HKHLPQLVVH (GOHU 6WHLQH  (LQH $QOHLWXQJ ]XU $NWLYLHUXQJ GHU  (QHUJLH]HQWUHQ GHV 0HQVFKHQ PLW 6WHLQHQ .ULVWDOOHQ 0LQHUDOLHQ :LQGSIHUG 9HUODJ $LWUDQJ 

6,(%(1 ('(/67(,1( '(56(/%(1 $57

:LU ZlKOHQ  (GHOVWHLQH GHUVHOEHQ $UW DXV XQG OHJHQ VLH ]XU 5HLNL%HKDQGOXQJ DXI GLH  +DXSWHQHUJLH]HQWUHQ EHLVSLHOVZHLVH  *UDQDWH RGHU  .DUQHROH RGHU  %HUQVWHLQH RGHU  &LWULQH RGHU  2OLYLQH RGHU  &KU\VRSUDVH RGHU  6PDUDJGH RGHU  7XUPDOLQH RGHU  $TXDPDULQH RGHU  /DSLVOD]XOL RGHU  6XJJLOLWKH RGHU  $PHWK\VWH RGHU  %HUJNULVWDOOH

'DGXUFK ZLUG LQ MHGHP (QHUJLH]HQWUXP HLQ $VSHNW JDQ] EHVRQGHUHU $UW DNWLYLHUW 'LHVHU $VSHNW NRPPW DXI DOOHQ (EHQHQ XQVHUHV 6HLQV JOHLFKHUPD‰HQ ]XP $XVGUXFN %HLVSLHOVZHLVH DNWLYLHUHQ GLH *UDQDWH PLW LKUHP OHXFKWHQGHQ 5RW IUHXGLJH 7DWNUDIW XQG JHEHQ GHP .|USHU 9LWDOLWlW 'LH .DUQHROH EULQJHQ XQV PLW LKUHP VDQIW VFKLPPHUQGHQ RUDQJHIDUEHQHQ /LFKW LQ )OX‰  GXUFKIOXWHQ XQV PLW :lUPH XQG HUK|KHQ XQVHU /HEHQVJHIKO %HUQVWHLQH KHOIHQ XQV (UIROJ LQ XQVHUHP /HEHQ ]X]XODVVHQ 'LH JHOEHQ &LWULQH HUPXWLJHQ XQV LQWXLWLY HUNDQQWH :DKUKHLWHQ LP SUDNWLVFKHQ /HEHQ XP]XVHW]HQ XQG :HLVKHLW OHEHQGLJ XQG 6LFKWEDUZHUGHQ ]X ODVVHQ 2OLYLQH VFKHQNHQ XQV PLW LKUHP *UQ +HU]HQVZlUPH XQG *WH 'LH DSIHOJUQ VFKLPPHUQGHQ &KU\VRSUDVH JHEHQ XQV HLQHQ QDWUOLFKHQ 8PJDQJ PLW GHQ :DQGOXQJVSUR]HVVHQ GHV /HEHQV PLW GHP :HUGHQ XQG 9HUJHKHQ 'LH LQWHQVLY OHXFKWHQGJUQHQ 6PDUDJGH YHUPLWWHOQ $OO/LHEH XQG 9HUDQWZRUWXQJ IU XQV VHOEVW DOOH *HVFK|SIH GLH (UGH XQG GDV 8QLYHUVXP 'LH JUQURVDIDUEHQHQ 7XUPDOLQ6WlEH HUP|JOLFKHQ XQV GHQ 'XUFKEUXFK ]XU EHGLQJXQJVORVHQ /LHEH 'LH KHOOEODX OHXFKWHQGHQ $TXDPDULQH

O|VHQ XQV DXV HPRWLRQDOHQ 9HUVWULFNXQJHQ XQG VLQG %DOVDP IU GLH 6HHOH 'HU GXQNHOEODXH /DSLVOD]XOL RIW PLW JROGVFKLPPHUQGHP 3\ULW GXUFK]RJHQ VWlUNW GLH JUR‰H *ODXEHQVNUDIW GHU 6HHOH XQG JLEW XQV LQQHUHQ )ULHGHQ 'LH YLROHWW VFKLPPHUQGHQ 6XJJLOLWKH KHOIHQ XQV GLH 0DFKW XQVHUHU *HGDQNHQ XQG *HIKOH EHVVHU NHQQHQ]XOHUQHQ XQG VLQQYROO LP J|WWOLFKHQ (LQNODQJ DQ]XZHQGHQ 'LH $PHWK\VWH ODVVHQ XQVHUH 7ULHEH ]X $QWULHEHQ IU VSLULWXHOOH (QWZLFNOXQJ ZHUGHQ XQG HUKHEHQ XQVHUH %HGUIQLVVH ]XP *|WWOLFKHQ KLQ 'LH %HUJNULVWDOOH EULQJHQ XQV ]XP /LFKW GHV /HEHQV UHLQLJHQ NOlUHQ XQG RUGQHQ XQVHUH IHLQVWRIIOLFKHQ (QHUJLHQ

'LHV LVW DXFK GLH $UW XQG :HLVH GHU $XVZDKO GLH LQ GLHVHP %XFK JDQ] EHVRQGHUV EHVFKULHEHQ ZLUG 'LH $QOHLWXQJ ]X GLHVHU $UEHLW PLW  JOHLFKHQ (GHOVWHLQHQ ZXUGH PLU DXV GHU JHLVWLJHQ :HOW HUVW JHJHEHQ  DOV LFK 5HLNL0HLVWHULQ ZXUGH XQG VLFK PLU JDQ] QHXH 'LPHQVLRQHQ GHV OLFKWYROOHQ 8QLYHUVXPV HUVFKO|VVHQ (V LVW HLQ ZXQGHUEDUHV (UOHEQLV DXI GLHVH :HLVH JDQ] YRQ GHU OHXFKWHQGHQ )DUEH HLQHV (GHOVWHLQHV GXUFKIOXWHW ]X ZHUGHQ XQG GDPLW VHKU LQWHQVLYH (UIDKUXQJHQ ]X PDFKHQ

,FK P|FKWH HV QRFK PDO HUZlKQHQ %HYRU ZLU HLQHQ (GHOVWHLQ DXVZlKOHQ VROOWHQ ZLU XP J|WWOLFKH )KUXQJ ELWWHQ (V ZHUGHQ GDQQ JDQ] VSRQWDQ ,PSXOVH (LQJHEXQJHQ XQG +LQZHLVH DXIWDXFKHQ LKQHQ VROOWHQ ZLU LQ DOOHU (LQIDFKKHLW IROJHQ

$XFK ZHQQ ZLU EHLVSLHOVZHLVH YRQ YRUQKHUHLQ IHVWOHJHQ PLW ZHOFKHQ (GHOVWHLQHQ ZLU DUEHLWHQ P|FKWHQ VROOWHQ ZLU XQV ZHLWHUKLQ LQWXLWLY GDEHL IKUHQ ODVVHQ ZHOFKH 6WHLQDUWHQ XQG )RUPHQ XQV EHL GHU 5HLNLEHKDQGOXQJ EHJOHLWHQ P|FKWHQ

:HQQ ZLU DXI XQVHUH K|KHUH LQQHUH )KUXQJ K|UHQ N|QQHQ ZLU GHU DXJHQEOLFNOLFKHQ /HEHQVVLWXDWLRQ XQG GHQ LQGLYLGXHOOHQ %HGUIQLVVHQ GHV 5HLNL(PSIDQJHQGHQ DP EHVWHQ HQWVSUHFKHQ XQG GLHV GXUFK GLH JHZlKOWHQ (GHOVWHLQH QRFK YHUVWlUNHQ )U GHQMHQLJHQ GHU GLH (GHOVWHLQH DXVZlKOW LVW HV HLQH VHKU JXWH 6FKXOXQJ VLFK LP 9HUWUDXHQ DXI GLH HLJHQH ,QWXLWLRQ IKUHQ ]X ODVVHQ

:,5.81*(1 '85&+ ',( 817(56&+,('/,&+( %(6&+$))(1+(,7 '(5 ('(/67(,1( 

'LH ,QWHQVLWlW XQG .ODUKHLW GHU )DUEH HLQHV (GHOVWHLQHV VHLQH =HLFKQXQJHQ XQG 0XVWHU VHLQH *U|‰H VHLQ 6FKOLII XQG VHLQH )RUP VLQG YRQ JUR‰HU %HGHXWXQJ IU VHLQH :LUNXQJ 'LH IHLQVWRIIOLFKHQ 6FKZLQJXQJHQ XQG :HVHQKHLWHQ GHV 6WHLQHV HQWVSUHFKHQ H[DNW GHQ lX‰HUOLFK VLFKWEDUHQ

0DQLIHVWDWLRQHQ GHV (GHOVWHLQHV

',( )$5%(

-HGH )DUEH VRZLH GLH YLHOHQ P|JOLFKHQ 1XDQFHQ HLQHU )DUEH EHILQGHQ VLFK LQ GHQ 6FKZLQJXQJHQ XQVHUHU (QHUJLH]HQWUHQ $XUHQ XQG (QHUJLHN|USHU (LQ (GHOVWHLQ UHJW H[DNW GLH )DUEQXDQFHQ LQ XQV DQ GLH ZLU DQ LKP VHKHQ N|QQHQ 'HVKDOE VROOWHQ ZLU GDUDXI DFKWHQ GD‰ ZLU NHLQH (GHOVWHLQH PLW VWXPSIHQ WUEHQ RGHU VFKPXW]LJHQ )DUEHQ DXVVXFKHQ VRQGHUQ 6WHLQH PLW NODUHQ UHLQHQ LQWHQVLYHQ )DUEHQ DXVZlKOHQ 'DQQ ZHUGHQ DXFK LQ XQV GLH )DUEVFKZLQJXQJHQ PLW VWDUN UHLQLJHQGHQ NOlUHQGHQ DXIODGHQGHQ .UlIWHQ DNWLYLHUW

2SDNH GK XQGXUFKVLFKWLJH (GHOVWHLQH GHUHQ )DUEHQ MD QLFKW OLFKWGXUFKOlVVLJ VLQG EULQJHQ GLH (QHUJLH LQ XQV LQ 6FKZLQJXQJHQ GLH DXI GLH LUGLVFK YHUN|USHUWH JUREVWRIIOLFKH GLFKWH 0DWHULH EH]RJHQ LVW %HLVSHOVZHLVH YHUZXU]HOW GHU VFKZDU]ZHL‰H 6FKQHHIORFNHQREVLGLLDQ XQV PLW 0XWWHU (UGH XQG Ol‰W XQV LKUH 6FK|QKHLW GLH DXV GHU OLHEHQGHQ (LQKHLW PLW GHP +LPPOLVFKHQ 9DWHU HQWVWHKW HUNHQQHQ XQG XQV GDUDQ HUIUHXHQ 'HU URWH -DVSLV KDUPRQLVLHUW NUDQNH EHODVWHQGH 6FKZLQJXQJHQ GHU *HElUPXWWHU XQG (LHUVW|FNH XQG LVW HLQ *HEXUWVKHOIHU  'DV JHOEEUDXQ VFKLPPHUQGH 7LJHUDXJH VWlUNW GLH ORJLVFKDQDO\WLVFKHQ *HGDQNHQNUlIWH GLH ZLLU RIW LQ 3UIXQJHQ EUDXFKHQ 'HU JUQH 0DODFKLW OHKUW XQV IU XQV VHOEVW 9HUDQWZRUWXQJ ]X EHUQHKPHQ XQG QLFKW PHKU DQGHUHQ GLH 6FKXOG IU GDV ]X JHEHQ ZDV XQV ]XVW|‰W 'HU URVDVFKZDU]H 5KRGRQLW IKUW XQV OLHEHYROO DQ XQVHUH 6FKDWWHQVHLWHQ XQG KLOIW XQV VLH DQ]XQHKPHQ XQG LQ XQVHU 3HUV|QOLFKNHLWVELOG ]X LQWHJULHUHQ 'HU KHOOEODXH &KDO]HGRQ VWlUNW XQVHUHQ VSUDFKOLFKHQ $XVGUXFN 'HU GXQNHOEODXH /DSLVOD]XOL Ol‰W XQVHUH KRKHQ ,GHDOH XQVHUH JHLVWLJHQ =LHOH XQVHUH 9HUEXQGHQKHLW PLW XQVHUHQ /LFKW+HOIHUQ DEHU DXFK XQVHU EHUK|KWHV 6HOEVWNRQ]HSW LQV %HZX‰WVHLQ NRPPHQ XQG HLQH OHEEDUH )RUP DQQHKPHQ 'HU YLROHWWH 6XJJLOLWK Ol‰W XQV HUNHQQHQ GD‰ GHU *HLVW GLH 0DWHULH JHVWDOWHW XQG OHKUW XQV GLH $QZHQGXQJ GHU 9RUVWHOOXQJVNUlIWH

/LFKWGXUFKOlVVLJH GXUFKVLFKWLJH GXUFKVFKLPPHUQGH (GHOVWHLQH EULQJHQ XQV LQ HUOHLFKWHUQGH 6FKZLQJXQJHQ GLH XQVHUH (QHUJLHQ YRQ %HODVWHQGHP EHIUHLHQ XQG XQVHUH /LFKWDXVVWUDKOXQJ HUK|KHQ

'HU 7XUPDOLQTXDU] O|VW XQV PLW GHQ VFKZDU]HQ 7XUPDOLQ1DGHOQ LP KHOOHQ %HUJNULVWDOO DXV GHU 7UDJLN GHU 6HHOH XQG DXV $EKlQJLJNHLWHQ LQ 9HUELQGXQJHQ XQG LUGLVFKHQ PDWHULHOOHQ *WHUQ 'HU 5XELQ YHUHLQLJW 5RW XQG %ODX 0DWHULH XQG *HLVW /HLE XQG 6HHOH 6H[XDOLWlW XQG 6SLULWXDOLWlW

7DWNUDIW XQG *ODXEHQVNUDIW 6SRQWDQHLWlW XQG 9HUQXQIW 'HU RUDQJH OHXFKWHQGH )HXHURSDO HUZHFNW GLH %HJHLVWHUXQJ XQVHUHV +HU]HQV XQG Ol‰W XQV GDPLW LQ VWDUNH %HZHJXQJ NRPPHQ LQ GHU ZLU DXFK DQGHUH EHZHJHQ  'HU 5XWLOTXDU] PLW VHLQHQ JROGHQHQ 5XWLO1DGHOQ LP KHOOHQ %HUJNULVWDOO EHVlQIWLJW KDUPRQLVLHUW XQG KHLOW 6FKPHU]HQ GLH DXV LQQHUHU =HUULVVHQKHLW VRZLH ]X VWDUNHQ 6SDQQXQJHQ HQWVWHKHQ 'HU JUQH 6PDUDJG VWlUNW XQV LQ GHU $OO/LHEH XQG |IIQHW XQVHU %HZX‰WVHLQ IU GDV =XODVVHQ XQG $QQHKPHQ YRQ /LHEH 'HU URVDIDUEHQH .XQ]LW IKUW XQV ]X K|FKVWHU VSLULWXHOOHU /LHEH +HU] XQG 9HUVWDQG ILQGHQ ]X HLQHU (LQKHLW GLH XQV DXV GHP (QWZHGHU2GHU HUO|VW 'HU KHOOEODXH (GHOWRSDV VFKZlPPW DXI VHKU VDQIWH :HLVH YHUKlUWHWH HUVWDUUWH EHUKROWH 9HUKDOWHQVZHLVHQ XQG 'HQNPXVWHU KLQZHJ 'HU GXQNHOEODXH 6DSKLU UXIW GLH JUR‰H *ODXEHQVNUDIW GHU 6HHOH ZDFK XQG GDV :LVVHQ XP GLH *HERUJHQKHLW LQ XQVHUHU NRVPLVFKHQ +HLPDW 'HU YLROHWWH $PHWK\VW VWlUNW GLH ,QWXLWLRQ IKUW XQV DXI GHQ :HJ ]XU (UOHXFKWXQJ

'HU UHLQH %HUJNULVWDOO UHLQLJW NOlUW XQG RUGQHW XQVHUH (QHUJLHQ JLEW XQV =LHOYRUVWHOOXQJHQ RIIHQEDUW XQV :HLVKHLW YHUHLQLJW XQV PLW GHP /LFKW LQ DOOHP

'HU 'LDPDQW EULQJW XQV YROONRPPHQHV /LFKW XQG /LHEH%HZX‰WVHLQ LQ DOOHQ $VSHNWHQ XQVHUHV 'DVHLQV ZHQQ HU DOV %ULOODQW JHVFKOLIIHQ XQG GDPLW LQ DOOHQ )DFHWWHQ LQ YROONRPPHQHU 5HLQKHLW XQG 6FK|QKHLW OHXFKWHW XQG VWUDKOW

',( =(,&+181*(1 81' 0867(581*(1

'LH =HLFKQXQJHQ 0XVWHUXQJHQ 6WUXNWXUHQ XQG (LQVFKOVVH GHU (GHOVWHLQH VLQG VR YHUVFKLHGHQ LQGLYLGXHOO XQG HLQPDOLJ ZLH MHGHU 0HQVFK /DVVHQ ZLU XQV WLHIHU GDUDXI HLQ ILQGHQ ZLU EHU VLH HLQHQ =XJDQJ ]X XQVHUHQ LQQHUHQ 6HHOHQELOGHUQ *HIKOH XQG (UIDKUXQJHQ GLH LQ XQV VLQG XQG GLH ZLHGHU DQV /LFKW GK LQV %HZX‰WVHLQ NRPPHQ ZROOHQ ZHUGHQ EHOHEW 'LHVHU 9RUJDQJ LVW VR VSH]LHOO GD‰ HV NHLQH YHUDOOJHPHLQHUQGHQ +LQZHLVH JLEW ZHOFKH =HLFKQXQJHQ GHV 6WHLQHV ZHOFKH (PSILQGXQJHQ GHV 0HQVFKHQ KHUYRUUXIHQ 'LH :LUNXQJ LVW VHKU LQWHQVLY DXI WLHIYHUERUJHQH 6HHOHQVWUXNWXUHQ EH]RJHQ

',( *5g66(

'LH *U|‰H HLQHV (GHOVWHLQHV DOOHLQ VDJW QRFK QLFKW VR YLHO EHU VHLQH :LUNXQJ DXV (V NRPPW VHKU DXI GLH ,QWHQVLWlW XQG 5HLQKHLW GHU )DUEH DQ RE GHU 6WHLQ JHVFKOLIIHQ RGHU XQJHVFKOLIIHQ YROONRPPHQ KHLO RGHU EHVFKlGLJW PLOFKLJ RGHU NODU LVW

(LQ NOHLQHU (GHOVWHLQ EHVRQGHUV HLQ OLFKWGXUFKOlVVLJHU IDFHWWLHUW JHVFKOLIIHQHU ZLUNW ZLH HLQ %UHQQSXQNW ]HQWULHUW XQVHUH (QHUJLH XQG OHQNW VLH DXI GDV :HVHQWOLFKH

(LQ JUR‰HU (GHOVWHLQ IRUGHUW XQV KHUDXV *HIKOH GHU 0LQGHUZHUWLJNHLW GHU (QJH XQG GHU .OHLQOLFKNHLW ]X EHUZLQGHQ XQG MD ]X VDJHQ ]X *U|‰H :HLWH XQG $XVGHKQXQJ

/LHJHQ MHGRFK )RUP 6FKOLII XQG 4XDOLWlW YRQ ]ZHL (GHOVWHLQHQ XQWHUVFKLHGOLFKHU *U|‰H JDQ] QDKH EHLHLQDQGHU GDQQ LVW GLH $XVVWUDKOXQJ GHV JU|‰HUHQ 6WHLQV VWlUNHU (V LVW DEHU JDQ] ZLFKWLJ GD‰ GHUMHQLJH GHU GHQ 6WHLQ WUlJW E]Z GHU GHP GHU 6WHLQ ZlKUHQG HLQHU 5HLNLEHKDQGOXQJ DXIJHOHJW ZLUG LP (LQNODQJ PLW GHU *U|‰H GHV 6WHLQHV LVW GK GD‰ GLH YRQ GHU *U|‰H XQG 6WUDKONUDIW GHV 6WHLQHV DXVJHKHQGH 6FKZLQJXQJ HLQH 5HVRQDQ] LQ LKP KHUYRUUXIW

6&+/,)) 81' )250

hEHU XQJHVFKOLIIHQH (GHOVWHLQH NRPPHQ ZLU PLW XQVHUHQ 8UNUlIWHQ GHQHQ XQVHUHU 8PJHEXQJ XQG GHQ 8UNUlIWHQ GHU JHLVWLJHQ :HOW LQ 9HUELQGXQJ (LQH JDQ] EHVRQGHUH %HGHXWXQJ KDEHQ GDEHL GLH %HUJNULVWDOOH XQG DOOH OLFKWYROO DXVNULVWDOOLVLHUWHQ 7HLOH HLQHU 6WHLQDUW %HLVSLHOVZHLVH GHU 5KRGRFKURVLW KlXILJ RSDN URVD PLW ZHL‰HQ /LQLHQ GXUFK]RJHQ NRPPW DXFK LQ JDQ] NULVWDOOLQHP GXUFKVFKHLQHQGHP LQWHQVLYHP 5RVD YRU 'HU $]XULW HLQ HKHU SRU|VHU 6WHLQ KlXILJ PLW 0DODFKLW XQG &KU\VRNROO YHUEXQGHQ NULVWDOOLVLHUW LQ NXJHOLJ ]XVDPPHQJHZDFKVHQHQ LQWHQVLY GXQNHOEODX VFKLPPHUQGHQ 1DGHOQ 'HU $PHWK\VW NRPPW LQ DOOHQ 9LROHWW)DUEW|QHQ YRU XQG ]ZDU YRQ JDQ] RSDN EHU GXUFKVFKHLQHQG ELV JDQ] OLFKWGXUFKOlVVLJ XD DXFK GHU &LWULQ 7RSDV 7XUPDOLQ 5RVHQTXDU] 2OLYLQ 'LRSWDV 6PDUDJG $TXDPDULQ 6DSKLU 5XELQ 'LDPDQW 'LH OLFKWGXUFKOlVVLJHQ .ULVWDOOLVDWLRQHQ LQ OHXFKWHQG UHLQHQ )DUEHQ WUDJHQ GLH (VVHQ] GHU 6FKZLQJXQJ HLQHV (GHOVWHLQHV LQ VLFK GLH K|FKVWH /LFKWPDQLIHVWDWLRQ XQG $XVVWUDKOXQJ GLH GLHVH 6WHLQDUW KHUYRUEULQJHQ NDQQ 6LH YHUELQGHQ XQV PLW 8UNUlIWHQ GHV /LFKWHV LQ GHQ JUR‰HQ )DUEVWUDKOHQ GHV 8QLYHUVXPV GLH YRQ $QEHJLQQ DQ GLH OHXFKWHQGH )DUEH DXV GHU (LQKHLW GHV UHLQHQ /LFKWHV HQWVWHKHQ OLH‰HQ 'LH LKQHQ LQQHQZRKQHQGHQ .UlIWH ZHUGHQ XQV GDPLW LQ YROONRPPHQVWHU :HLVH ]XWHLO

*HVFKOLIIHQH (GHOVWHLQH KDEHQ PLW LKUHU 9HUHGHOXQJ HLQH (UK|KXQJ LKUHU (QHUJLH HUIDKUHQ 8QHEHQKHLWHQ (LQVFKQLWWH 9HUOHW]XQJHQ HWF ZHUGHQ ZHJJHVFKOLIIHQ 'LH 6FK|QKHLW XQG /HXFKWNUDIW HLQHV 6WHLQHV ZLUG GDGXUFK VWlUNHU RGHU EHUKDXSW HUVW ]XP $XVGUXFN JHEUDFKW 'LH JHVFKOLIIHQHQ (GHOVWHLQH DNWLYLHUHQ LQ XQV JDQ] lKQOLFKH 3UR]HVVH

'LH )RUP LQ GLH HLQ 6WHLQ JHVFKOLIIHQ ZLUG LVW VHKU HQWVFKHLGHQG IU VHLQHQ :LUNXQJVEHUHLFK :lKUHQG GLH )DUEHQ DXI XQVHUH (QHUJLH]HQWUHQ ZLUNHQ XQV UHLQLJHQ DXIODGHQ XQG GXUFKIOXWHQ OHQNW GLH )RUP GLH (QHUJLH GHV 6WHLQHV HQWZHGHU VWlUNHU LQ N|USHUOLFKH VHHOLVFKH RGHU JHLVWLJH %HUHLFKH

7URPPHOJHVFKOLIIHQH (GHOVWHLQH ZHUGHQ ZLH LKU 1DPH VFKRQ VDJW LQ HLQHU 7URPPHO JHVFKOLIIHQ *HVWHLQVEURFNHQ 6FKOHLIPLWWHO XQG :DVVHU ZHUGHQ PLWHLQDQGHU LQ %HZHJXQJ JHVHW]W VR GD‰ VLFK GLH 6WHLQH JHJHQVHLWLJ VFKOHLIHQ hEHU GLHVH 6WHLQH NRPPHQ ZLU PLW .UlIWHQ XQG 0HQVFKHQ LQ .RQWDNW GLH 5HLEXQJVSUR]HVVH LQ XQV DXVO|VHQ GLH XQV HLQ 6SLHJHO VLQG IU GDV ZDV ZLU YRQ XQV VHOEVW QLFKW VHKHQ ZROOHQ 

0XJHOLJ JHVFKOLIIHQH (GHOVWHLQH VLQG LQ GHU &RERFKRQ)RUP ]X ILQGHQ XQG KDEHQ HLQH JHZ|OEWH )OlFKH HLQHQ %HUJ EHU GHU (EHQHQ%DVLV 6LH ZHUGHQ LQ UHFKWHFNLJH RYDOH WURSIHQI|UPLJH UXQGH XQG LQ 3KDQWDVLH)RUPHQ JHVFKOLIIHQ 'LH HEHQH %DVLV VFKHQNW XQV HLQHQ JXWHQ (UGEH]XJ GLH :|OEXQJ GDUEHU HLQH VDQIWH ZHLEOLFKH (QHUJLH 'LH $XVZLUNXQJ GHU HLQ]HOQHQ )RUPHQ LVW HQWVSUHFKHQG GHQHQ GHU IDFHWWLHUW JHVFKOLIIHQHQ (GHOVWHLQH GRFK LQVJHVDPW VHKU YLHO VDQIWHU XQG WUDJHQGHU

0LW GHP )DFHWWHQVFKOLII ZHUGHQ GLH RSWLVFKHQ (LJHQVFKDIWHQ GXUFKVLFKWLJHU (GHOVWHLQH GXUFK GHQ V\PPHWULVFKHQ 6FKOLII NOHLQHU JODWWHU ]DKOUHLFKHU H[DNWHU )OlFKHQ GHQ )DFHWWHQ KHUYRUJHKREHQ XQG EHWRQW (V JLEW LQQHUKDOE GHV )DFHWWHQVFKOLIIV YLHOH YHUVFKLHGHQH 6FKOLIIDUWHQ 6HKU EHNDQQW LVW GHU %ULOODQWVFKOLII GHU EHLP 'LDPDQW XQG DXFK DQGHUHQ GXUFKVLFKWLJHQ (GHOVWHLQHQ JHPDFKW ZLUG 'LH )DFHWWHQ VLQG VHKU ]DKOUHLFK XQG VR DQJHEUDFKW GD‰ GLH LQ GHQ 6WHLQ HLQIOLH‰HQGHQ /LFKWVWUDKOHQ QDFK ZLHGHUKROWHU 5HIOH[LRQ LP 6WHLQ YHUVWlUNW ZLHGHU DXVWUHWHQ XQG GDPLW VHKU LQWHQVLY DXVVWUDKOHQ 'LHV HUK|KW GHQ *ODQ] XQG GDV )XQNHOQ XQG 6WUDKOHQ GHU )DUEH HQWIDOWHW HLQ VWDUNHV )DUEHQVSLHO GDV )HXHU GHV (GHOVWHLQHV 'LHVHU 6FKOLII HQWIDFKW XQVHU LQQHUHV )HXHU GLH OHEHQGLJH /LHEH HLQH .UDIW GLH XQV DXIV +|FKVWH KHUDXVIRUGHUW XQG XQV DOOHV JLEW ZDV ZLU ]XU (QWIDOWXQJ GHV /LFKWHV LQ XQV EUDXFKHQ

)DFHWWLHUW JHVFKOLIIHQH (GHOVWHLQH VLQG ZLH %UHQQSXQNWH GLH GLH OLFKWGXUFKIOXWHWH )DUEHQHUJLH LKUHV 6WHLQHV VHKU VWDUN DXV GHQ JUR‰HQ )DUEVWUDKOHQ GHV 8QLYHUVXPV DQ]LHKHQ NRQ]HQWULHUHQ XQG LQ XQVHUH (QHUJLHV\VWHPH OHQNHQ 'LH )RUP GHU 2EHUIOlFKH EHVWLPPW LQ ZHOFKH .DQlOH GLHVH LQWHQVLY YLEULHUHQGH /LFKWHQHUJLH IOLH‰W

5HFKWHFNLJH YLHUHFNLJH )RUPHQ VLQG %DXVWHLQH IU GLH (UGH YHUVWlUNHQ GDV

(QHUJLHJHVFKHKHQ DXI (EHQHQ GLH PLW GHU ([LVWHQ]EHZlOWLJXQJ ]XVDPPHQKlQJHQ PDWHULDOLVLHUHQ JHLVWLJH 6FKZLQJXQJHQ ODVVHQ XQVHUH ,GHHQ (LQJHEXQJHQ XQG ,QWXLWLRQHQ VLFKWEDUH :LUNOLFKNHLW ZHUGHQ

2YDOH )RUPHQ VRUJHQ IU XQVHU N|USHUOLFKHV :RKOEHILQGHQ IU 6FKXW] XQG +HLOXQJ GHV .|USHUV IU GLH %HIULHGLJXQJ N|USHUOLFKHU %HGUIQLVVH

7URSIHQIRUPHQ YHUHLQLJHQ GDV DEJHUXQGHWH HPSIDQJHQGH KLQJHEXQJVYROOH WUDJHQGH :HLEOLFKH PLW GHP ]LHOJHULFKWHWHQ ]XP +|FKVWHQ VWUHEHQGH 0lQQOLFKH XQG DNWLYLHUHQ VWDUNH 6HHOHQNUlIWH VRZLH GLH %HKHUUVFKXQJ GHU (PRWLRQHQ

5XQGH )RUPHQ YHUVWlUNHQ LQ XQV GLH LQWXLWLYHQ LQVSLUDWLYHQ LPDJLQDWLYHQ LGHHQUHLFKHQ .UlIWH GHV *HLVWHV XQG UXQGHQ XQV DE

'LH (L)RUP DNWLYLHUW NUHDWLYVFK|SIHULVFKH 3UR]HVVH OHLWHW 1HXEHJLQQH HLQ Ol‰W QHXHV /HEHQ HQWVWHKHQ HUP|JOLFKW QHXH (UIDKUXQJHQ

'LH 'UHLHFNV)RUP |IIQHW XQV IU GLH :DKUQHKPXQJ XQG EHZX‰WH 1XW]XQJ JHLVWLJHU .UlIWH

'LH 3\UDPLGH YHUHLQLJW YLHU 'UHLHFNH DXI GHU %DVLV GHV 9LHUHFNV GDV PDQLIHVWLHUHQGH PDWHULHEH]RJHQH (QHUJLHQ DNWLYLHUW 6R ZLUG *HLVW PLW 0DWHULH YHUHLQW XQG GLH JHVDPWH (QHUJLH ZLUG ]XU (LQKHLW ]XP +|FKVWHQ ]XU 6SLW]H JHOHQNW ZR VLFK GLH (QHUJLHQ GHU YLHU 'UHLHFNH WUHIIHQ 'LHV KLOIW XQV GLH +HUDXVIRUGHUXQJHQ GHU 0DWHULH PLW JHLVWLJHU .UDIW ]X PHLVWHUQ XQG XQVHU (UGHQOHEHQ PLW JHLVWLJHP 6WUHEHQ ]XU (LQKHLW LP /LFKW ]X HUIOOHQ

'HU 2EHOLVN VWDELOLVLHUW GLH 3\UDPLGHQHQHUJLH JLEW XQV 6WDQGIHVWLJNHLW LQ XQVHUHP *ODXEHQ XQHUVFKWWHUOLFKHV 9HUWUDXHQ XQG HLQH ZHLW VLFKWEDUH /LFKWDXVVWUDKOXQJ lKQOLFK HLQHP /HXFKWWXUP

'LH .XJHO UXQGHW XQV XQG XQVHU :HOWELOG DE EULQJW $XVHLQDQGHUVHW]XQJHQ PLW 0DFKW XQG 6WlUNH EHIUHLW XQV YRQ VWDUNHQ :LGHUVWlQGHQ ]HQWULHUW XQV LQ XQVHUHU 0LWWH Ol‰W XQV 9HUDQWZRUWXQJ IU XQV VHOEVW GLH (UGH XQG GDV 8QLYHUVXP HQWIDOWHQ XQG YHUYROONRPPQHW XQV

0LW MHGHP (GHOVWHLQ GHU LQ HLQHU GLHVHU EHVRQGHUHQ )RUPHQ JHVFKOLIIHQ LVW PLW MHGHP %HUJNULVWDOO XQG PLW MHGHP OLFKWYROO DXVNULVWDOOLVLHUWHQ (GHOVWHLQ VLQG ZLU PLW /LFKWZHVHQ YHUEXQGHQ GLH VLFK PLU DOV (QJHO ]HLJHQ XQG PLWWHLOHQ 0LW LKUHU XQHQGOLFKHQ /LHEH IU XQV 0HQVFKHQ N|QQHQ VLH ]X XQV ILQGHQ ZHQQ ZLU GLH /LFKWNUlIWH GHV 6WHLQHV LQ /LHEH EHUKUHQ XQG HQWIDOWHQ 6LH VLQG VWHWV EHUHLW XQV GDULQ ]X XQWHUVWW]HQ XQVHU

%HZX‰WVHLQ XQG XQVHUH %HGUIQLVVH QDFK /LHEH ]XP /LFKW KLQ ]X HUKHEHQ XQV LQ XQVHUHP 6FKOHLIXQJVSUR]H‰ NUDIWYROO ]X EHJOHLWHQ XQG XQVHU /LFKWEHZX‰WVHLQ DXI (UGHQ VLFKWEDU XQG VSUEDU ZHUGHQ ]X ODVVHQ

$XI GLH %HGHXWXQJ GHU )RUPHQ GHU (GHOVWHLQH JHKH LFK DXVIKUOLFK HLQ LQ PHLQHP %XFK (QJHO XQG (GHOVWHLQH 'LH JHKHLPQLVYROOHQ .UlIWH YRQ JHVFKOLIIHQHQ 6WHLQHQ XQG .ULVWDOOHQ :LQGSIHUG 9HUODJ $LWUDQJ 

'$6 5(,1,*(1 81' $.7,9,(5(1 

9RU XQG QDFK MHGHU 5HLNL%HKDQGOXQJ PLW (GHOVWHLQHQ UHLQLJH LFK GLH GDIU DXVJHZlKOWHQ 6WHLQH PDQXHOO XQG VSLULWXHOO 'D]X KDOWH LFK VLH NXU]H =HLW XQWHU IOLH‰HQGHV NDOWHV :DVVHU XQG VWHOOH PLU GDEHL YRU ZLH DOOHV %HODVWHQGH 'XQNOH YRQ LKQHQ KLQZHJJHVFKZHPPW ZLUG

'DQDFK WURFNQH LFK VLH PLW HLQHP VDXEHUHQ %DXPZROOWXFK DE XQG KDOWH VLH LQ PHLQHQ 5HLNL+lQGHQ 'XUFK GLH YRQ VHOEVW GXUFK XQVHUH 5HLNL+lQGH DXVVWUDKOHQGH NRQ]HQWULHUWH /LFKWHQHUJLH XQG GLH /LHEH DXV J|WWOLFKHU XQLYHUVHOOHU 4XHOOH ZHUGHQ GLH 6WHLQH LQ LKUHQ /LFKWVFKZLQJXQJHQ DNWLYLHUW $XI GLHVH :HLVH VLQG GLH $XVVWUDKOXQJHQ GHU (GHOVWHLQH QLFKW QXU JHUHLQLJW VRQGHUQ DXFK LQ GLH NUDIWYROO KHLOVDPHQ KDUPRQLVLHUHQGHQ 6FKZLQJXQJHQ JHEUDFKW GLH GHP (QHUJLHIOX‰ YRQ 5HLNL HQWVSUHFKHQ

(UVW GLH %HUKUXQJ PLW /LFKW XQG /LHEH EULQJW GLH YHUERUJHQHQ IHLQVWRIIOLFKHQ /LFKWNUlIWH GHU (GHOVWHLQH KHUYRU

5HLNL+lQGH WXQ GDV YRQ VHOEVW DXI JDQ] HLQIDFKH XQG QDWUOLFKH :HLVH

:lKUHQG GHU 5HLNL%HKDQGOXQJ HUIDKUHQ GLH (GHOVWHLQH HLQH VWDUNH $XIODGXQJ PLW 5HLNL 'LHVH 5HLNL(QHUJLH VWUDKOHQ VLH DXFK QDFK %HHQGLJXQJ GHU %HKDQGOXQJ XQG QDFK GHU 5HLQLJXQJ QRFK ODQJH LQ GHQ 5DXP RGHU ]X GHP 0HQVFKHQ GLH GHQ 6WHLQ PLW VLFK QHKPHQ 'HVKDOE ODVVHQ ZLU GLH 6WHLQH PLW GHQHQ ZLU 5HLNL%HKDQGOXQJHQ JHJHEHQ KDEHQ LQ GHP 5DXP OLHJHQ VLH VRUJHQ GRUW IU HLQH ZRKOWXHQGH UHLQH XQG VFK|QH $WPRVSKlUH +DEHQ ZLU XQV HLQH 5HLNL6HOEVWEHKDQGOXQJ PLW YHUVFKLHGHQHQ (GHOVWHLQHQ JHJHEHQ N|QQHQ ZLU HLQHQ GDYRQ DXVZlKOHQ XQG LKQ WDJVEHU RGHU DXFK EHU HLQH OlQJHUH =HLW PLW XQV WUDJHQ (U ZLUG XQV PLW VHLQHP /LFKW ]XU 6HLWH VWHKHQ 5HLNL KDW VHLQH :LUNXQJ HUK|KW

'$6 $8)/(*(1 81' 237,0$/( $865,&+7(1 $8) '(1 (1(5*,(=(175(1



:LH GHU 1DPH VFKRQ VDJW VLQG XQVHUH (QHUJLH]HQWUHQ EHVRQGHUV HPSIlQJOLFK IU IHLQVWRIIOLFKH /LFKWHQHUJLHQ 6LH VLQG GLH %UFNHQ EHU GLH DOO XQVHUH .|USHU YRP 3K\VLVFKHQ ELV KLQ ]XP .RVPLVFKHQ LQ 9HUELQGXQJ XQG VWlQGLJHP (QHUJLHDXVWDXVFK VLQG -HGHV (QHUJLH]HQWUXP KDW GDEHL HLQH EHVRQGHUH $XIJDEH XQG )XQNWLRQ XQG GRFK LVW LQ MHGHP (QHUJLH]HQWUXP MHGH ,QIRUPDWLRQ SUlVHQW XQG HUUHLFKEDU

/HJHQ ZLU GHQ (GHOVWHLQ DXI HLQ (QHUJLH]HQWUXP IOLH‰W VHLQH DNWLYLHUWH /LFKWHQHUJLH LQ GLH (QHUJLHVWU|PH GHV =HQWUXPV (QWVSUHFKHQG GHU )DUEH )RUP *U|‰H =HLFKQXQJ XQG 0XVWHUXQJ GHV 6WHLQHV ZLUG GLH :LUNXQJ JHZLVVH 1XDQFHQ DXIZHLVHQ 'HQ (GHOVWHLQ IU GDV  (QHUJLH]HQWUXP %DVLV]HQWUXP OHJHQ ZLU GD]X DXI GHQ XQWHUHQ *HQLWDOEHUHLFK EHLP  (QHUJLH]HQWUXP 6DNUDO]HQWUXP DXI GHQ 8QWHUEDXFK XQWHUKDOE GHV 1DEHOV EHLP  (QHUJLH]HQWUXP 6RODUSOH[XV]HQWUXP REHUKDOE GHV 1DEHOV EHLP  (QHUJLH]HQWUXP +HU]]HQWUXP ]ZLVFKHQ GLH %UVWH EHLP  (QHUJLH]HQWUXP +DOV]HQWUXP LQ GLH +DOVNXKOH EHLP  (QHUJLH]HQWUXP 6WLUQ]HQWUXP EHU GLH 1DVHQZXU]HO ]ZLVFKHQ GLH $XJHQEUDXHQ EHLP  (QHUJLH]HQWUXP .RSI]HQWUXP KLQWHU GHQ .RSI

'HQ (GHOVWHLQ IU GLH )X‰]HQWUHQ ]ZLVFKHQ GLH )‰H IU GLH +DQG]HQWUHQ DXI GLH QDFK REHQ KLQ JH|IIQHWH +DQG RGHU XQWHU GLH +DQGLQQHQIOlFKH GLH ]XP %RGHQ ]HLJW

1DFK GHU ]XYRU EHVFKULHEHQHQ 5HLQLJXQJ XQG $NWLYLHUXQJ GHV (GHOVWHLQHV OHJHQ ZLU LKQ DXI XQG DFKWHQ GDUDXI GD‰ ZLU LKQ RSWLPDO DXVULFKWHQ -HGHU (GHOVWHLQ RE XQJHVFKOLIIHQ RGHU JHWURPPHOW LQ )DFHWWHQ RGHU DOV &DERFKRQ JHVFKOLIIHQ JLEW XQV GXUFK )RUP =HLFKQXQJ 0XVWHUXQJ :DFKVWXPVVWUXNWXUHQ RGHU (LQVFKOVVH +LQZHLVH EHU VHLQHQ (QHUJLHYHUODXI 0HLVWHQV ILQGHQ ZLU HLQH 6SLW]H HLQ 'UHLHFN HLQHQ %HUJ RGHU HLQHQ QXU ]X HUIKOHQGHQ +|KHSXQNW  ]X GHP GLH (QHUJLH KLQVWUHEW 'DV LVW GDQQ GLH 6WHOOH GHV 6WHLQHV GLH ]XP .RSI KLQ DXVJHULFKWHW ZHUGHQ VROO *DQ] GHXWOLFK LVW GLHV EHL %HUJNULVWDOOHQ RGHU lKQOLFKHQ 6WHLQHQ

%HLP $XIOHJHQ GHU 3\UDPLGH JLEW HV ]ZHL 0|JOLFKNHLWHQ GHU RSWLPDOHQ $XVULFKWXQJ

(LQH (FNH GHU 3\UDPLGH ]HLJW ]XP .RSI KLQ GLH (QHUJLH IOLH‰W YRP *HLVW LQ GLH 0DWHULH /LFKWHQHUJLH XQWHUVWW]W XQV LP LUGLVFKHQ *HVFKHKHQ

(LQH GHU *UXQGIOlFKHQ GHU 3\UDPLGH ]HLJW ]XP .RSI KLQ GLH (QHUJLH HUKHEW VLFK DXV GHU 0DWHULH ]XP *HLVW KLQ ZLU |IIQHQ XQV IU VSLULWXHOOH

JHLVWLJH XQG LQWXLWLYH (UNHQQWQLVVH XQG 6FKXOXQJHQ

2EHOLVNHQ VROOWHQ ZLU QLFKW OHJHQ VRQGHUQ DXIVWHOOHQ 'D GLHV QXU LP %HUHLFK GHU )X‰]HQWUHQ RGHU EHLP .RSI]HQWUXP P|JOLFK LVW VWHOOHQ ZLU EHL GHQ DQGHUHQ (QHUJLH]HQWUHQ GHQ 2EHOLVN LQ GLH $XUD QHEHQ GHQ .|USHU LQ GHQ %HUHLFK GHV MHZHLOLJHQ (QHUJLH]HQWUXPV 'LHV N|QQHQ ZLU DXFK PLW JUR‰HQ VFKZHUHQ (GHOVWHLQHQ WXQ RGHU PLW .XJHOQ XQG (LHUQ GLH ZHJUROOHQ 

:HQQ VLFK QDFK GHP $XIOHJHQ GHU (GHOVWHLQH RGHU DXFK EHLP 5HLNL*HEHQ GLH /DJH HLQHV RGHU PHKUHUHU 6WHLQH YHUlQGHUW ODVVHQ ZLU GLHV JHVFKHKHQ XQG OHJHQ LKQ QLFKW DQ GLH XUVSUQJOLFKH 6WHOOH ]XUFN )HLQVWH 5HJXQJHQ LP .|USHU KDEHQ LQ GLHVHQ )lOOHQ GD]X JHIKUW GD‰ GHU (GHOVWHLQ LQ HLQH IU GLH PRPHQWDQH 6LWXDWLRQ GHV (PSIDQJHQGHQ QRFK EHVVHUH 3RVLWLRQ NRPPW

%HLP $XIOHJHQ XQG $XVULFKWHQ GHU (GHOVWHLQH VROOWHQ ZLU JDQ] EHL GHU 6DFKH VHLQ GHQQ PLW MHGHP (GHOVWHLQ KDOWHQ ZLU NRQ]HQWULHUWH /LFKWHQHUJLH LQ XQVHUHQ +lQGHQ PLW GHU GDV )OLH‰HQ XQG $QQHKPHQ YRQ 5HLNL XQG GHVVHQ :LUNXQJ VHKU VWDUN DNWLYLHUW ZLUG

',( 5(,.,+$1'326,7,21(1

0LW 5HLNL ZHUGHQ *UXQGSRVLWLRQHQ ]XP $XIOHJHQ GHU +lQGH JHOHKUW GLH GXUFK LQQHUH )KUXQJ EHL DNXWHQ 6FKPHU]HQ XQG .UDQNKHLWHQ HUZHLWHUW ZHUGHQ N|QQHQ

,Q MHGHU 3RVLWLRQ EOHLEHQ XQVHUH +lQGH ]ZLVFKHQ  XQG  0LQXWHQ OLHJHQ (V NDQQ VHLQ GD‰ EHLP 5HLNL*HEHQ XQVHUH +lQGH VHKU KHL‰ RGHU LQ $XVQDKPHIlOOHQ DXFK HLVNDOW ZHUGHQ RGHU NULEEHOQ (V NDQQ VHLQ GD‰ ZLU LQ XQVHUHQ +lQGHQ GDV )OXWHQ GHU (QHUJLH VSUHQ RGHU DXFK GD‰ XQVHU .|USHU VHKU ZDUP GXUFKVWU|PW ZLUG :LU GUIHQ GDGXUFK WHLOKDEHQ DP )OLH‰HQ YRQ 5HLNL XQG HUKDOWHQ DXFK EHLP *HEHQ DXI JDQ] QDWUOLFKH :HLVH LPPHU HLQH 6HOEVWEHKDQGOXQJ 6HOEVW ZHQQ ZLU YRQ DOO GHP QLFKWV VSUHQ KHL‰W GDV QLFKW GD‰ NHLQ 5HLNL IOLH‰W 1XU QHKPHQ ZLU GDQQ DXV ZHOFKHP *UXQG DXFK LPPHU GDYRQ QLFKWV EHZX‰W ZDKU 'LH (UIDKUXQJHQ YRQ YLHOHQ 5HLNL3UDNWL]LHUHQGHQ EHVWlWLJHQ GLHV

$X‰HUGHP ULFKWHW VLFK 5HLNL LPPHU QDFK GHP %HGDUI GHV (PSIDQJHQGHQ XQG QLFKW QDFK GHP ZDV ZLU LKP JHEHQ ZROOHQ

'LH +lQGH VROOWHQ RKQH 'UXFN DXIOLHJHQ OHLFKW JHZ|OEW XQG VRPLW GHU .|USHUIRUP DQJHSD‰W 'LH )LQJHU OLHJHQ DXI QDWUOLFKH :HLVH JHVFKORVVHQ

QHEHQHLQDQGHU XP HLQHQ NRQ]HQWULHUWHQ (QHUJLHIOX‰ ]X JHZlKUOHLVWHQ 9RU XQG QDFK GHP 5HLNL*HEHQ VROOWHQ GLH +lQGH XQWHU IOLH‰HQGHP NDOWHQ :DVVHU JHUHLQLJW ZHUGHQ 6FKPXFN PLW GHP ZLU EHLP 5HLNL*HEHQ QLFKW JDQ] EHZX‰W LQ 9HUELQGXQJ VHLQ P|FKWHQ VROOWHQ ZLU DEOHJHQ DXFK GLH 8KU 'LHV JLOW HEHQVR IU GHQ 5HLNL(PSIDQJHQGHQ -HGHU 6FKPXFN GHU EHL GHU 5HLNL%HKDQGOXQJ JHWUDJHQ ZLUG VRZRKO YRP *HEHQGHQ ZLH DXFK YRQ (PSIDQJHQGHQ NRPPW GXUFK 5HLNL LQ 6FKZLQJXQJ VWUDKOW DXV XQG KDW HLQH :LUNXQJ

:LUG DXI MHGHV (QHUJLH]HQWUXP HLQ (GHOVWHLQ DXIJHOHJW VROOWH P|JOLFKVW NHLQ +DOVVFKPXFN YRP (PSIDQJHQGHQ JHWUDJHQ ZHUGHQ ,Q GHQ PHLVWHU )lOOHQ ZUGH LQ 9HUELQGXQJ PLW GHQ DXIJHOHJWHQ (GHOVWHLQHQ GLH (QHUJLH ]X VWDUN DNWLYLHUW $XFK LQ GHU (GHOVWHLQWKHUDSLH NRPPW HV DXI GDV 0D‰ DQ :HQQ ]X YLHOH (GHOVWHLQH ]XU 5HLNL%HKDQGOXQJ DXIOLHJHQ NDQQ HV ]X HLQHU hEHUDNWLYLHUXQJ NRPPHQ DXI GLH GHU (PSIDQJHQGH PLW 'LFKWPDFKHQ RGHU VRJDU PLW (UPGXQJ ELV KLQ ]XU (UVFK|SIXQJ UHDJLHUHQ NDQQ

',( 5(,.,3$571(5%(+$1'/81* 

*HEHQ ZLU HLQHP 3DUWQHU 5HLNL NDQQ GLHV LP 6LW]HQ RGHU /LHJHQ JHVFKHKHQ ,P 6LW]HQ JHEHQ ZLU LKP HLQH 5HLNL6FKQHOOEHKDQGOXQJ YRQ HWZD  0LQXWHQ 'DXHU LP /LHJHQ HLQH YROOVWlQGLJH 5HLNL%HKDIOGOXQJ YRQ HLQHU ELV HLQHLQKDOE 6WXQGHQ 'DXHU ,P $QVFKOX‰ DQ GLH 5HLNL%HKDQGOXQJ LP /LHJHQ N|QQHQ ZLU QRFK HLQH &KDNUD%DODQFH JHEHQ

',( 5(,.,%(+$1'/81* ,0 /,(*(1 

'LHV LVW GLH 5HLNL%HKDQGOXQJ PLW GHU LQWHQVLYVWHQ $XVZLUNXQJ 6LH GDXHUW HLQ ELV HLQHLQKDOE 6WXQGHQ XPID‰W .RSI XQG .|USHU XQG 5FNHQEHKDQGOXQJ XQG VROOWH ]X %HJLQQ HLQHU 5HLNL%HKDQGOXQJVVHULH P|JOLFKVW YLHUPDO KLQWHUHLQDQGHU DQ YLHU DXIHLQDQGHUIROJHQGHQ 7DJHQ JHJHEHQ ZHUGHQ GD GLHVH WlJOLFKH 'XUFKIOXWXQJ DOOHU (QHUJLHV\VWHPH HLQH JUR‰H 5HLQLJXQJ DXI DOOHQ (EHQHQ DXVO|VW YLHOHV LQ %HZHJXQJ EULQJW XQG XQV GDEHL VWDUN XQG NUDIWYROO XQWHUVWW]W 'HU .|USHU NDQQ *LIW XQG DEJHODJHUWH 6FKODFNHVWRIIH DXVVFKHLGHQ 6FKPHU]HQ XQG FKURQLVFKH /HLGHQ N|QQHQ ZLHGHU DNXW ZHUGHQ XQG HUIDKUHQ HLQH OLHEHYROOH %HKDQGOXQJ GXUFK 5HLNL 6ROFKH 5HDNWLRQHQ YHUDQODVVHQ XQV ]X QHXHQ $XVHLQDQGHUVHW]XQJHQ PLW GHQ 8UVDFKHQ XQVHUHV /HLGHQV *HIKOH ZHUGHQ DQJHUHJW VLFK GHXWOLFKHU PLW]XWHLOHQ (V NRPPW ]X HPRWLRQDOHQ 5HDNWLRQHQ PLW GHU 0|JOLFKNHLW ]XU YHUWLHIWHQ (LQVLFKW ]XP

9HUJHEHQ XQG 9HU]HLKHQ GHVVHQ ZDV XQV GXUFK VFKPHU]KDIWH (UIDKUXQJHQ YHUOHW]W KDW 'HQN XQG 9HUKDOWHQVPXVWHU VRZLH 6HOEVWNRQ]HSWH ZHUGHQ XQV LQ LKUHU IHVVHOQGHQ HLQHQJHQGHQ EORFNLHUHQGHQ (QHUJLH EHZX‰WHU XQG HUIDKUHQ GDV HUO|VHQGH /LFKW YRQ 5HLNL 1DFK GLHVHU YLHUWlJLJHQ (UVWEHKDQGOXQJ IROJHQ ZHLWHUH 5HLNL%HKDQGOXQJHQ HLQ ELV ]ZHLPDO SUR :RFKH EHLVSLHOVZHLVH DOV EHJOHLWHQGH 0D‰QDKPH ZlKUHQG HLQHU DNXWHQ RGHU FKURQLVFKHQ (UNUDQNXQJ HLQHU VFKZHUHQ /HEHQVNULVH HLQHU 3UIXQJVSKDVH HLQHU JUR‰HQ +HUDXVIRUGHUXQJ

:HQQ ZLU HLQHP 3DUWQHU HLQH 5HLNL6LW]XQJ JHEHQ VROOWHQ ZLU YRU %HJLQQ HLQHQ DQJHPHVVHQHQ (QHUJLHDXVJOHLFK YHUDEUHGHQ 'LHV NDQQ EHU HLQH %H]DKOXQJ PLW *HOG RGHU HLQHQ DQGHUHQ $XVJOHLFK JHVFKHKHQ 'LHV LVW ZLFKWLJ GHQQ HV EHZDKUW GHQ *HEHQGHQ XQG (PSIDQJHQGHQ YRU 6FKXOGJHIKOHQ VRZLH IDOVFKHQ (UZDUWXQJVKDOWXQJHQ (V VWHKW XQV QLFKW ]X HLQ +HLOXQJVYHUVSUHFKHQ ]X JHEHQ GHQQ GLH .UDIW IU GLH ZLU DOV 5HLNL(LQJHZHLKWH .DQDO VLQG LVW DXV J|WWOLFKHU 4XHOOH XQG WUlJW LQ VLFK GDV $OO:LVVHQ ZLH GHU +HLOXQJVZHJ GHV

(PSIDQJHQGHQ DXVVLHKW ZHOFKH (UIDKUXQJHQ HU PLW VHLQHP /HLGHQ QRFK PDFKHQ GDUI ZRIU HU HV QRFK EUDXFKW ZDQQ HV JHO|VW XQG HUO|VW LVW :LU EHJOHLWHQ XQG XQWHUVWW]HQ GLHVHQ 6HOEVWHUIDKUXQJV (UNHQQWQLV XQG +HLOXQJVSUR]H‰ PLW 5HLNL XQG GHQ /LFKWNUlIWHQ GHU (GHOVWHLQH :LU JHEHQ GDPLW DOV 9HUPLWWOHU GHV J|WWOLFKHQ /LFKWHV GLH +LOIH XQG GLH .UDIW GLH GHU (PSIDQJHQGH MHW]W EUDXFKW GLH HU VHOEVW JHVXFKW GLH LKQ ]X XQV JHIKUW KDW

:LU VRUJHQ GDIU GD‰ ZLU 5HLNL LQ HLQHU UXKLJHQ HQWVSDQQWHQ IULHGYROOHQ $WPRVSKlUH JHEHQ /HLVH PHGLWDWLYH 0XVLN XQG HLQ IHLQHU 'XIW XQWHUVWW]HQ GLHV 'HU 3DUWQHU GHU YRQ XQV 5HLNL HPSIlQJW VROOWH VLFK LQ /LHEH DQJHQRPPHQ IKOHQ %HLP +LQOHJHQ DFKWHQ ZLU GDUDXI GD‰ HU VHLQH 8KU XQG GLH 6FKXKH HYHQWXHOO DXFK +DOVVFKPXFN DXV]LHKW HLQHQJHQGH .OHLGXQJVVWFNH *UWHO HWF ORFNHUW GLH %HLQH EHLP /LHJHQ QLFKW EHUNUHX]W XQG VHLQH $UPH QHEHQ GHQ .|USHU DEOHJW XQG GLH $XJHQ VFKOLH‰W :LU GHFNHQ LKQ PLW HLQHU :ROOGHFNH ]X VR ZLH HV IU LKQ DQJHQHKP LVW

1RFK EHYRU ZLU PLW GHP 5HLNL*HEHQ EHJLQQHQ UHLQLJHQ ZLU XQVHUH +lQGH XQWHU IOLH‰HQGHP NDOWHQ :DVVHU EHIUHLHQ VLH YRQ DOOHP ZDV VLH ]XYRU EHUKUW XQG JHWDQ KDEHQ O|VHQ XQV YRQ GHP ZDV XQV ELV GDKLQ QRFK EHVFKlIWLJW KDW ZDVFKHQ XQVHUH +lQGH LQ 8QVFKXOG  :LU VLQG IUHL YRQ GHP ZDV JHVFKLHKW ZDV GXUFK 5HLNL DNWLYLHUW ZLUG ZDV GHU (PSIDQJHQGH HUIlKUW :LU VLQG HLQ UHLQHU .DQDO GHU 5HLNL YHUPLWWHOW

:HQQ ZLU ZlKUHQG GLHVHU 5HLNL%HKDQGOOXQJ (GHOVWHLQH HLQEH]LHKHQ XQG DXI (QHUJLH]HQWUHQ DXIOHJHQ ZHUGHQ GLH /LFKWNUlIWH GLHVHU 6WHLQH VHKU VWDUN DNWLYLHUW XQG YRP (PSIDQJHQGHQ GXUFK GDV 5HLNL GDV ZlKUHQG GLHVHU HLQ ELV HLQHLQKDOE 6WXQGHQ IOLH‰W DXIJHQRPPHQ :LU ELWWHQ XP LQQHUH )KUXQJ ZHOFKH (GHOVWHLQH DXIJHOHJW ZHUGHQ P|FKWHQ ZlKOHQ VLH LQWXLWLY DXV UHLQLJHQ VLH EHJU‰HQ VLH PLW XQVHUHQ 5HLNL+lQGHQ XQG OHJHQ VLH DXI GHQ .|USHU GHV 5HLNL(PSI DQJHQGHQ DXI hEHU GLH (QHUJLH]HQWUHQ ZLUG GLH (QHUJLH GHU 6WHLQH DP VWlUNVWHQ DXIJHQRPPHQ VR GD‰ ZLU VLH DP EHVWHQ GRUW DXIOHJHQ 'DEHL DFKWHQ ZLU GDUDXI GD‰ VLH RSWLPDO DXVJHULFKWHW VLQG :LU VROOWHQ ZlKUHQGGHVVHQ XQG DXFK ]XP 5HLNL*HEHQ DQ GHU OLQNHQ 6HLWH GHV 3DUWQHUV VHLQ GD GLH OLQNH .|USHUVHLWH GLH HPSIDQJHQGH 6HLWH LVW XQG YRQ GDKHU EHVRQGHUV EHUHLW 5HLNL DQ]XQHKPHQ

=X %HJLQQ KDOWHQ ZLU NXU] HLQH LQQHUH (LQNHKU LQ GHU ZLU XQV YHUJHJHQZlUWLJHQ GD‰ ZLU HLQ 5HLNL.DQDO HLQ 9HUPLWWOHU IU GLH .UDIW GHU /LHEH XQG GHV /LFKWHV DXV J|WWOLFKHU 4XHOOH VLQG XQG GD‰ XQV NRQ]HQWULHUWH /LFKWPDQLIHVWDWLRQHQ DXV GLHVHU 4XHOOH GLH DXIJHOHJWHQ (GHOVWHLQH EHJOHLWHQ XQG XQWHUVWW]HQ

=XP 6FKXW] XQG ]XU $NWLYLHUXQJ XPIDKUHQ ZLU PLW HLQHU +DQG GLH $XUD

XQVHUHV 5HLNL3DUWQHUV GUHLPDO

ZLU EHJLQQHQ DQ VHLQHU OLQNHQ 6HLWH DQ GHU ZLU VWHKHQ ZHLWHU ]XP .RSI KLQ XP GHQ .RSI KHUXP GDQQ DXI VHLQHU UHFKWHQ .|USHUVHLWH HQWODQJ ]X GHQ )‰HQ XP GLH )‰H KHUXP XQG DQ GHU OLQNHQ .|USHUVHLWH ZLHGHU ]XUFN

',( .23)326,7,21(1 

 .RSISRVLWLRQ

:LU EHJLQQHQ GLH 5HLNL%HKDQGOXQJ PLW GHQ 5HLNL.RSI3RVLWLRQHQ 'D]X VHW]HQ ZLU XQV KLQWHU GHQ .RSI

:LU OHJHQ XQVHUH +lQGH RKQH 'UXFN DXI GDV *HVLFKW EHU 6WLUQ $XJHQ XQG :DQJHQ 5HLNL IOLH‰W LQ GDV  (QHUJLH]HQWUXP $XI N|USHUOLFKHU (EHQH ]X GHQ $XJHQ 6WLUQ .LHIHU 1DVHQ XQG 1HEHQK|KOHQ $XI GHU IHLQVWRIIOLFKHQ (EHQH ZLUG GDV 'ULWWH $XJH DNWLYLHUW VRZLH GDV 'XUFKVFKDXHQ GHU =XVDPPHQKlQJH ]ZLVFKHQ *HLVW XQG 0DWHULH GDV LQQHUH LQWXLWLYH 6FKDXHQ +HOOVHKHQ GLH ,PDJLQDWLRQ ,QVSLUDWLRQ ,GHHQ XQG 9RUVWHOOXQJVNUlIWH GLH

JUR‰H *ODXEHQVNUDIW GHU 6HHOH PLW LKUHP 9HUWUDXHQ LQ GLH J|WWOLFKH )KUXQJ DEHU DXFK GLH %HZX‰WZHUGXQJ XQG $XVHLQDQGHUVHW]XQJ PLW HUVWDUUWHQ 'HQNPXVWHUQ EHUVWHLJHUWHQ 6HOEVWNRQ]HSWHQ (UZDUWXQJHQ XQG =LHOHQ PLW 'RPLQDQ] (JR (LJHQZLOOHQ :LOOHQ J|WWOLFKHP :LOOHQ 2KQPDFKW XQG 0DFKW

 .RSI3RVLWLRQ

:LU OHJHQ XQVHUH +lQGH RKQH 'UXFN VHLWOLFK GHU 6FKOlIHQ ]X GHQ 2KUHQ KLQ 5HLNL ZLUNW KLHU EHUXKLJHQG XQG NOlUHQG HEHQVR EHIUHLHQG DXI *HGDQNHQ XQG LKUH EHODVWHQGHQ IHVVHOQGHQ HLQHQJHQGHQ .UlIWH $X‰HUGHP IOLH‰W 5HLNL ]X GHQ 2KUHQ VHQVLELOLVLHUW XQVHU %HZX‰WVHLQ GDIU ZDV ZLU QLFKW K|UHQ ZROOHQ DNWLYLHUW GDV LQQHUH +|UHQ GDV +HOO+|UHQ

 .RSI3RVLWLRQ

:LU OHJHQ XQVHUH +lQGH XQWHU GHQ .RSI GLH )LQJHUVSLW]HQ EHUKUHQ GLH 0HGXOOD 2EODQJDWD hEHUJDQJ YRP 1DFNHQ ]XP .RSI  5HLNL DNWLYLHUW XQG KDUPRQLVLHUW GDEHL EHVRQGHUV GLH EHLGHQ *HKLUQKlOIWHQ DXI GHU UHFKWHQ 6HLWH GDV LQWXLWLYH DVVR]LDWLYH ELOGKDIWH NUHDWLYH 'HQNHQ DXI GHU OLQNHQ 6HLWH GDV ORJLVFKDQDO\WLVFKH ZLVVHQVFKDIWOLFKH WDWVDFKHQRULHQWLHUWH 'HQNHQ VR GD‰ VLFK EHLGH 3RWHQWLDOH XQWHUVWW]HQ 'XUFK GLH LQ XQVHUHU =HLW HLQVHLWLJ EHYRU]XJWH XQG WUDLQLHUWH ORJLVFKDQDO\WLVFKH 'HQNZHLVH GHU OLQNHQ *HKLUQKlOIWH LVW GLH UHFKWH *HKLUQKlOIWH PHLVW YHUNPPHUW XQG EUDXFKW QHXH ,PSXOVH ,Q GLHVHU 3RVLWLRQ HPSILQGHW GHU 5HLNL(PSIDQJHQGH VHKU YLHO 6FKXW] XQG *HERUJHQKHLW XQG NDQQ GDGXUFK OHUQHQ VLFK YHUWUDXHQVYROO GHU WUDJHQGHQ OLHEHQGHQ .UDIW GHV /HEHQV ]X EHUODVVHQ XQG VLFK QHXHQ NUHDWLYHQ VFK|SIHULVFKHQ (UIDKUXQJHQ ]X |IIQHQ

 .RSI3RVLWLRQ

:LU OHJHQ XQVHUH +lQGH VDQIW DQ GLH 6FKXOWHUNXSSHQ 5HLNL IOXWHW GXUFK GHQ JDQ]HQ .|USHU ELV ]X GHQ )‰HQ XQG O|VW GLH (UIDKUXQJ GHU $XVZHLWXQJ GHV .|USHUEHZX‰WVHLQV XQG GLH %HIUHLXQJ YRQ GHU 6FKZHUH GHU 0DWHULH DXV

 .RSI3RVLWLRQ

:LU OHJHQ XQVHUH +lQGH VDQIW ]X HLQHP 'UHLHFN DXI GHQ %UXVWUDXP +LHUEHL IOLH‰W 5HLNL LQ GDV +DOV XQG LQ GDV +HU]=HQWUXP ,P .|USHU ZHUGHQ GLH 6FKZLQJXQJHQ GHU 6FKLOGGUVH GHV 6WRIIZHFKVHOJHVFKHKHQV GHU $WHPZHJH GHU

%URQFKLHQ XQG /XQJHQ VRZLH GHU %UVWH XQG GHV EHODVWHQGHQ 'UXFNV YRQ .XPPHU XQG 6RUJHQ EHU XQV VHOEVW XQG DQGHUHQ XQV EHVRQGHUV QDKHVWHKHQGHQ 0HQVFKHQ 6FKZLQJXQJHQ GHU 7UHQQXQJV XQG 9HUOXVWlQJVWH GHU $XVHLQDQGHUVHW]XQJHQ PLW *HEHQ XQG 1HKPHQ 6HOEVWPLWOHLG EHGLQJXQJVORVHU /LHEH 'LHVH 3RVLWLRQ LVW VHKU VSH]LHOO GD VLH GDV +HU]]HQWUXP XQG GDV +DOV]HQWUXP JOHLFK]HLWLJ DNWLYLHUW 'LH 6FKZLQJXQJHQ EHLGHU (QHUJLH]HQWUHQ YHUELQGHQ VLFK ]X HLQHP EHVRQGHUHQ (QHUJLHDXVWDXVFK XQG XQWHUVWW]HQ VLFK JHJHQVHLWLJ 'LH EHIUHLWHQ +HPPXQJHQ XQG GHU IUHLHUH 6HOEVWDXVGUXFN ODVVHQ GLH +HU]HQVOLHEH EHVVHU IOLH‰HQ YHUVWlUNWH +HU]HQVOLHEH ZLHGHUXP Ol‰W XQV OLHEHYROO NRPPXQL]LHUHQ

',( .g53(5326,7,21(1 

1XQ JHKHQ ZLU ]XU OLQNHQ 6HLWH GHV 3DUWQHUV XQG KDOWHQ GDEHL P|JOLFKVW PLW HLQHU +DQG ZHLWHUKLQ .|USHUNRQWDNW

 .|USHU3RVLWLRQ

:LU OHJHQ EHLGH +lQGH QHEHQHLQDQGHU XQWHU GLH UHFKWH %UXVW 5HLNL IOLH‰W KLHU LQ 6FKZLQJXQJVEHUHLFKH GHV  (QHUJLH]HQWUXPV ,P .|USHU ZHUGHQ /HEHU XQG *DOOHQEODVH XQWHUVWW]W XQG ]XP 7HLO DXFK GHU 0DJHQ ,P IHLQVWRIIOLFKHQ *HVFKHKHQ XQWHUVWW]W GLHVH 3RVLWLRQ $XVHLQDQGHUVHW]XQJHQ PLW 6HOEVWEHKHUUVFKXQJ XQG 8QWHUGUFNXQJ PLW 0D‰ XQG 0D‰ORVLJNHLW GLH 0HQJH EHVWLPPW DXI DOOHP (EHQHQ RE HWZDV 1DKUXQJ 0HGL]LQ RGHU *LIW LVW  PLW GHP :LOOHQ XQG (LJHQZLOOHQ PLW 0DFKW XQG 2KQPDFKW +LHUEHL VLQG GHXWOLFK =XVDPPHQKlQJH PLW 9RUJlQJHQ GHV  (QHUJLH]HQWUXPV GHP 'ULWWHQ $XJH ]X VHKHQ 'LHVH VFKZLQJHQ DEHU KLHU DXI HLQHU DQGHUHQ (EHQH QlPOLFK LQ 9HUELQGXQJ PLW GHP 6HOEVWZHUWJHIKO

 .|USHU3RVLWLRQ

:LU OHJHQ EHLGH +lQGH XQWHU GLH OLQNH %UXVW 5HLNL IOLH‰W DXFK KLHU LP %HUHLFKH GHV  (QHUJLH]HQWUXPV LP .|USHU ]X 0LO] %DXFKVSHLFKHOGUVH XQG WHLOZHLVH DXFK ]XP 0DJHQ $XI GHU IHLQVWRIIOLFKHQ (EHQH ZHUGHQ 'LVKDUPRQLHQ ]ZLVFKHQ =XODVVHQ XQG $EZHKUHQ *OHLFKJOWLJNHLW XQG .DPSI VRZLH GDV %HGUIQLV QDFK $XVWDXVFK YRQ =lUWOLFKNHLW YRQ 5HLNL EHUKUW

 .|USHU3RVLWLRQ

:LU OHJHQ XQVHUH +lQGH EHU XQG XQWHU GHQ 1DEHO +LHU ZHUGHQ JOHLFK]HLWLJ GDV  XQG  (QHUJLH]HQWUXP DNWLYLHUW ,P .|USHU IOLH‰W EHU GLHVH 3RVLWLRQ 5HLNL LQ GDV 9HUGDXXQJVJHVFKHKHQ ]XP 0DJHQ HEHQIDOOV WHLOZHLVH DXFK ]X /HEHU *DOOHQEODVH %DXFKVSHLFKHOGUVH XQG 0LO] VRZLH ]X LP 'QQGDUP XQG 'LFNGDUP XQG ]X GHQ 1LHUHQ $XI IHLQVWRIIOLFKHQ (EHQHQ ZLUG EHU GDV  (QHUJLH]HQWUXP GLH 9HUZDQGOXQJ YRP *UREVWRIIOLFKHQ ]X )HLQVWRIIOLFKHP XQWHUVWW]W HEHQVR XQVHUH LQQHUH 6RQQH  XQVHUH 6WUDKONUDIW XQG $XVVWUDKOXQJ /HEHQVIUHXGH 0XW XQG 6HOEVWYHUWUDXHQ VRZLH EHU GDV  (QHUJLH]HQWUXP GDV =XODVVHQ XQG /RVODVVHQ GLH %HZHJXQJ XQG )OH[LELOLWlW GDV LP )OX‰ VHLQ  (V ZHUGHQ DEHU DXFK 6SDQQXQJHQ XQG 'LVKDUPRQLHQ LQ GLHVHQ %HUHLFKHQ EHUKUW GLH QDFK JHZLVVHU =HLW ]X (UNUDQNXQJHQ GHV .|USHUV IKUHQ ZUGHQ 'D]X JHK|UHQ EHLVSLHOVZHLVH EHU GDV  (QHUJLH]HQWUXP 1HLG 0L‰JXQVW 0L‰WUDXHQ 0LQGHUZHUWLJNHLWVJHIKOH EHUVWHLJHUWH $QJVW VRZLH XQWHUGUFNWH XQG KHUXQWHUJHVFKOXFNWH (PRWLRQHQ hEHU GDV  (QHUJLH]HQWUXP JHK|UHQ 3DUWQHUVFKDIWVSUREOHPH GD]X QLFKW QXU PLW GHP /HEHQVSDUWQHU XQG GHU )DPLOLH VRQGHUQ DXFK PLW 3DUWQHUVFKDIWHQ YHUVFKLHGHQVWHU $UW GLH %HJHJQXQJ PLW GHP 'X  PLW GHP ZDV XQV QLFKW VR YHUWUDXW XQG YHUVWlQGOLFK LVW 6WDXXQJ XQG =XUFNKDOWXQJ YRQ YLWDOHQ *HIKOHQ 'LH 9HUELQGXQJ GLHVHU EHLGHQ (QHUJLH]HQWUHQ EHU GLHVH 5HLNL3RVLWLRQ EULQJW %HZHJXQJ )OLH‰HQ )OH[LELOLWlW LQ XQVHU EORFNLHUWHV EHKLQGHUWHV 6HOEVWYHUWUDXHQ XQG LQ XQVHUH $XVVWUDKOXQJVNUDIW $QGHUHUVHLWV KLOIW GDV DNWLYLHUWH 6HOEVWYHUWUDXHQ XP DQJVWIUHLHV 1HXHV 8QEHNDQQWHV =XUFNJHGUlQJWHV ]X]XODVVHQ GDPLW ZLU XQV EHVVHU YRP OHEHQGLJHQ YLWDOHQ /HEHQVVWURP WUDJHQ ODVVHQ N|QQHQ

 .|USHU3RVLWLRQ

:LU OHJHQ GLH +lQGH LQ GLH 93RVLWLRQ HQWODQJ GHQ /HLVWHQ DP 8QWHUOHLE 5HLNL IOLH‰W EHVRQGHUV LQ GDV  (QHUJLH]HQWUXP ]X XQVHUHQ *HVFKOHFKWVRUJDQHQ (V DNWLYLHUW ]XGHP GLH $XVVFKHLGXQJVYRUJlQJH DXI N|USHUOLFKHU (EHQH $EHU HV ZHUGHQ DXFK GLH $QWULHEVNUlIWH ]XU ([LVWHQ]EHZlOWLJXQJ DNWLYLHUW 7DWNUDIW 0RWLYDWLRQHQ ]XP /HEHQ ]XU VH[XHOOHQ /LHEH XQG LKUHU (UK|KXQJ 6XEOLPLHUXQJ XQG 7UDQVIRUPDWLRQ ]XU 3DUWQHUVFKDIW XQG )DPLOLH ]XU )RUWSIODQ]XQJ ]XP %HUXI ]XU .DUULHUH ]XU %HKHUUVFKXQJ GHU 7ULHEH ]XU %HIUHLXQJ YRQ $EKlQJLJNHLWHQ

:HQQ QRFK VSH]LHOOH N|USHUOLFKH 3UREOHPH YRUOLHJHQ OHJHQ ZLU EHLGH +lQGH DXFK GRUW DXI %HLVSLHOVZHLVH OHJHQ ZLU EHL %UXVWNUHEV MH HLQH +DQG DXI MHGH %UXVW EHL VFKPHU]HQGHU .QLHQ MH HLQH +DQG DXI HLQ .QLH EHL (UNUDQNXQJ GHU %URQFKLHQ EHLGH +lQGH QHEHQHLQDQGHU DXI GDV %UXVWEHLQ  MHZHLOV HWZD  0LQXWHQ

',( 5h&.(1326,7,21(1 

=XU DQVFKOLH‰HQGHQ 5FNHQEHKDQGOXQJ QHKPHQ ZLU GLH DXIJHOHJWHQ (GHOVWHLQH YRP .|USHU XQG OHJHQ VLH ]XU 6HLWH EHUKUHQ GHQ 3DUWQHU XQG ELWWHQ LKQ VLFK XP]XGUHKHQ XQG DXI GHQ %DXFK ]X OHJHQ GLH $UPH VROOWHQ GDEHL VHLWOLFK QHEHQ GHP .|USHU OLHJHQ

%HL GHU 5FNHQEHKDQGOXQJ ZHUGHQ ELV DXI ]ZHL $XVQDKPHQ NHLQH (GHOVWHLQH DXIJHOHJW (V NDQQ HUIRUGHUOLFK VHLQ EHL 1LHUHQSUREOHPHQ HLQHQ .DUQHRO ZlKUHQG GHU JDQ]HQ 5HLNL5FNHQEHKDQGOXQJ DXI GLH 1LHUHQ RGHU LKUHQ $XVVWUDKOXQJVEHUHLFK ]X OHJHQ %HL (UNUDQNXQJHQ GHU .QRFKHQ :LUEHO %DQGVFKHLEHQ RGHU :LUEHOVlXOH OHJHQ ZLU MH HLQHQ JUQHQ &DOFLW DXI GDV 6WHL‰EHLQ 'HU .DUQHRO XQWHUVWW]W GDV )OLH‰HQ XQG DXFK DOOH (QWVFKHLGXQJV XQG $XVVFKHLGXQJVSUR]HVVH 'HU JUQH &DOFLW EULQJW HLQH UHJHQHULHUHQGH OLHEHQGH .UDIW LQ =HUEURFKHQHV %UFKLJHV XQG (UVWDUUWHV

 5FNHQ3RVLWLRQ

:LU OHJHQ GLH +lQGH QHEHQHLQDQGHU DXI GHQ 1DFNHQ 5HLNL IOLH‰W GRUWKLQ ZR .|USHU XQG .RSI LQHLQDQGHU EHUJHKHQ XQG GDPLW LQ JHZLVVHU :HLVH LQ GLH hEHUJlQJH YRQ *HLVW XQG 0DWHULH

 5FNHQ3RVLWLRQ

:LU OHJHQ MH HLQH +DQG DXI GLH 6FKXOWHUQ 'DQQ IKUHQ ZLU GLH +lQGH DEZlUWV GDEHL LVW HLQH +DQG OLQNV GLH DQGHUH UHFKWV QHEHQ GHU :LUEHOVlXOH MHGRFK RKQH GLHVH GDEHL ]X EHUKUHQ ELV LQ 6WHL‰EHLQK|KH ,P 5FNHQ YHUVWHFNHQ ZLU ZDV ZLU QLFKW ZDKUKDEHQ ZDV ZLU QLFKW DQVFKDXHQ QLFKW YRQ XQV ]HLJHQ ZROOHQ ,P %HUHLFK GHU 6FKXOWHUQ ZLUG GLH /DVW EHUKUW GLH ZLU XQV DXIJHODGHQ KDEHQ ZLH (UIDKUXQJHQ XQG (QWVFKHLGXQJHQ GLH DXI XQV ODVWHQ 6FKXOGJHIKOH ,P REHUHQ 5FNHQEHUHLFK JHKW HV XP bQJVWH XQG *HIKOH GHU +HU]HQV/LHEH XP GLH )lKLJNHLW ]X OLHEHQ %H]LHKXQJHQ 9HUELQGXQJHQ ]X]XODVVHQ 9HUOXVWlQJVWH ]X EHUZLQGHQ ,P 1LHUHQEHUHLFK JHKW HV XP XQVHUH =HQWULHUXQJ XP XQVHUH 0LWWH LP %HFNHQEHUHLFK XP PDWHULHOOH ([LVWHQ] XQG ([LVWHQ]lQJVWH =X EHLGHQ 6HLWHQ HQWODQJ GHU :LUEHOVlXOH EHILQGHQ VLFK 1HUYHQHQGHQ PLW GHQHQ XQVHU ]HQWUDOHV 1HUYHQV\VWHP DNWLYLHUW ZLUG

hEHU GHP 6WHL‰EHLQ OHJHQ ZLU ZLHGHU EHLGH +lQGH QHEHQHLQDQGHU :LU YHUVWlUNHQ GDPLW GLH 5HLNL(QHUJLH EHU XQVHUHU %DVLV 

'DQQ VWHOOHQ ZLU HLQH 9HUELQGXQJ ]XP $XVJDQJVSXQNW GHU 5FNHQEHKDQGOXQJ KHU XQG OHJHQ HLQH +DQG EHU GHQ 1DFNHQ VR GD‰ HLQH +DQG DXI GHP 6WHL‰EHLQ XQG HLQH +DQG DXI GHP 1DFNHQ OLHJW $QIDQJ XQG (QGH HU :LUEHOVlXOH ZHUGHQ DNWLYLHUW ZDV HLQH 'XUFKIOXWXQJ GHV JHVDPWHQ 5FNHQV XQG HLQH ZRKOWXHQGH 6SDQQXQJ O|VHQGH +DUPRQLVLHUXQJ DXVO|VW

:HQQ HV EHVRQGHUH 5FNHQSUREOHPH JLEW N|QQHQ ZLU XQVHUH +lQGH QXQ QRFK HLQPDO QHEHQHLQDQGHUOLHJHQG GLUHNW DXI GLHVHQ %HUHLFK DXIOHJHQ XQG  0LQXWHQ OLHJHQODVVHQ

=XU JDQ]KHLWOLFKHQ $NWLYLHUXQJ XQG DXFK ]XU (UGXQJ LVW HV VHKU DQJHQHKP GLH +lQGH LQ GLH .QLHNHKOHQ XQGRGHU DXI GLH )X‰VRKOHQ ]X OHJHQ )LQJHUVSLW]HQ DXI GLH =HKHQVSLW]HQ 'LHV O|VW PHLVW HLQ VHKU YHUV|KQOLFKHV PLW GHP (UGHQOHEHQ YHUV|KQWHV *HIKO DXV

'LH .RSI .|USHU XQG 5FNHQEHKDQGOXQJ VROOWH MHZHLOV HWZD  0LQXWHQ GDXHUQ VR GD‰ GLH JDQ]H 5HLNL6LW]XQJ HWZD HLQH 6WXQGH GDXHUW :HQQ ZLU DXI HLQ]HOQHQ .|USHUVWHOOHQ GLH +lQGH OlQJHU OLHJHQ ODVVHQ RGHU HUNUDQNWHQ .|USHUWHLOHQ ]XVlW]OLFK 5HLNL JHEHQ P|FKWHQ NDQQ VLFK GLH 5HLNL6LW]XQJ DXFK DXI HLQHLQKDOE 6WXQGHQ DXVGHKQHQ (WZD JHQDXVR ODQJH GDXHUW HV ZHQQ ZLU QRFK HLQH ]XVlW]OLFKH &KDNUD%DODQFH JHEHQ

=XU %HHQGLJXQJ XPIDKUHQ ZLU ZLHGHU GUHLPDO GLH $XUD GHV 3DUWQHUV XQG PDFKHQ HLQHQ DNWLYLHUHQGHQ DXIEDXHQGHQ XQG DEVFKOLH‰HQGHQ (QHUJLHVFKXEYRP 6WHL‰EHLQ ]XP .RSI



:LU GDQNHQ IU GDV JHPHLQVDP HUOHEWH *HVFKHQN YRQ 5HLNL XQG GDQNHQ GHQ (GHOVWHLQHQ XQG LKUHQ .UlIWHQ UHLQLJHQ VLH XQG XQVHUH +lQGH XQWHU IOLH‰HQGHP NDOWHP :DVVHU

',( &+$.5$%$/$1&( 

:LU N|QQHQ GLH &KDNUD%DODQFH LP $QVFKOX‰ DQ GLH ]XYRU EHVFKULHEHQH PLQWLJH 5HLNLEHKDQGOXQJ JHEHQ 'D]X ELWWHQ ZLU GHQ 3DUWQHU VLFK ZLHGHU DXI GHQ 5FNHQ ]X OHJHQ XQG JHEHQ GLH &KDNUD%DODQFH RKQH QRFKPDOLJHV $XIOHJHQ GHU (GHOVWHLQH HWZD  0LQXWHQ 

(V LVW DEHU DXFK P|JOLFK GLH &KDNUD%DODQFH GHQ .RSI XQG

.|USHU3RVLWLRQHQ DQ]XVFKOLH‰HQ RKQH ]XYRU HLQH 5FNHQEHKDQGOXQJ JHJHEHQ ]X KDEHQ HWZD  0LQXWHQ  ,Q GLHVHP )DOO N|QQHQ GLH (GHOVWHLQH DXI GHQ (QHUJLH]HQWUHQ OLHJHQ EOHLEHQ GD VLH IU HLQHQ LQWHQVLYHQ $XVJOHLFK GHU 6FKZLQJXQJHQ LQ GHQ (QHUJLH]HQWUHQ VRUJHQ

:LU N|QQHQ GLH &KDNUD%DODQFH DEHU DXFK RKQH YRUKHULJH 5HLNL%HKDQGOXQJ JHEHQ XQG DXI HLQ]HOQH RGHU DOOH (QHUJLH]HQWUHQ (GHOVWHLQH GLH ZLU PLW +LOIH LQWXLWLYHU )KUXQJ DXVJHZlKOW KDEHQ DXIOHJHQ ,Q GLHVHP )DOO VROOWHQ ZLU XQV IU GLH &KDNUD%DODQFH HWZD HLQH KDOEH 6WXQGH =HLW QHKPHQ GDV VLQG XQJHIlKU ]HKQ 0LQXWHQ IU MHGH +DQGSRVLWLRQ

'HU 3DUWQHU OLHJW DXI GHP 5FNHQ :LU OHJHQ GLH JHUHLQLJWHQ (GHOVWHLQH DXI JHKHQ ]XU OLQNHQ 6HLWH XQVHUHV 3DUWQHUV XQG XPIDKUHQ VHLQH $XUD GUHLPDO

 :LU OHJHQ GLH OLQNH +DQG DXI GDV  XQG GLH UHFKWH +DQG VHKU VDQIW DXI GDV  (QHUJLH]HQWUXP 'LH (QHUJLHQ EHLGHU =HQWUHQ IOLH‰HQ GDEHL LQHLQDQGHU EHU ILQGHQ ]XU (LQKHLW XQWHUVWW]HQ VLFK VLQG LP RSWLPDOHQ (QHUJLHDXVWDXVFK 'DEHL YHUHLQLJHQ VLFK GLH DNWLYLHUHQGHQ VSRQWDQHQ DXI XQVHU (UGHQOHEHQ XQG GLH H[LVWHQWLHOOHQ $QWULHEH XQG %HGUIQLVVH EH]RJHQHQ (QHUJLHQ GHV  =HQWUXPV PLW GHP J|WWOLFKHQ %HZX‰WVHLQ GHU JUR‰HQ *ODXEHQVNUDIW GHU 6HHOH GLH EHNDQQWOLFK %HUJH YHUVHW]HQ 8QP|JOLFKHV P|JOLFK PDFKHQ NDQQ PLW GHU 9HUQXQIW PLW GHP LQQHUHQ NRVPLVFKHQ )ULHGHQ PLW GHQ 9RUVWHOOXQJV XQG *HGDQNHQNUlIWHQ GHV  &KDNUDV (LQH +DUPRQLVLHUXQJ XQG %HIUXFKWXQJ ]ZLVFKHQ GLHVHQ EHLGHQ JHJHQVlW]OLFKHQ .UlIWHQ 0DWHULH XQG *HLVW ZLUG GDGXUFK P|JOLFK

 1DFK HWZD  0LQXWHQ ODVVHQ ZLU XQVHUH +lQGH QlKHU ]XHLQDQGHUNRPPHQ 'LH OLQNH +DQG OHJHQ ZLU -HW]W DXI GDV  (QHUJLH]HQWUXP GLH UHFKWH +DQG VHKU ORFNHU GHQ +DOV QXU LQGLUHNW EHUKUHQG DXI GDV  (QHUJLH]HQWUXP +LHUEHL YHUHLQLJHQ VLFK GLH .UlIWH GHV OHEHQGLJHQ YLWDOHQ )OLH‰HQV GHV =XODVVHQV XQG /RVODVVHQV PLW GHP VSUDFKOLFKHQ 6HOEVWDXVGUXFN XQG GHU )lKLJNHLW ]X NRPPXQL]LHUHQ :LU OHUQHQ XQV IOLH‰HQGHU EHU GLH 6SUDFKH DXV]XGUFNHQ XQG PLW]XWHLOHQ XQG ILQGHQ VR QHXH 0|JOLFKNHLWHQ GHU %HJHJQXQJ PLW DQGHUHQ PLW 8QEHNDQQWHP 8QVHUH 3DUWQHUVFKDIWHQ XQG XQVHUH .RPPXQLNDWLRQ PLW GHU 8PZHOW EHOHEHQ VLFK ZHUGHQ SKDQWDVLHYROOHU XQG IUHXGLJHU

 'DQDFK NRPPHQ XQVHUH +lQGH QRFK QlKHU ]XVDPPHQ 'LH OLQNH +DQG OLHJW DXI GHP  GLH UHFKWH +DQG DXI GHP  (QHUJLH]HQWUXP 'LH VWUDKOHQGH 6RQQH XQVHUHU 0LWWH YHUHLQLJW VLFK PLW GHU +HU]HQVOLHEH 8QVHU 6HOEVWZHUWJHIKO XQG PLW LKP XQVHUH $XVVWUDKOXQJVNUDIW NRPPW LQ HLQH KDUPRQLVFKH 6FKZLQJXQJ GXUFK GLH +HU]HQVOLHEH VR GD‰ EHUVWHLJHUWH RGHU lQJVWOLFK ]XUFNJHKDOWHQH 0DFKW XQG 'RPLQDQ]HQHUJLHQ LQ HLQ VWLPPLJHUHV

9HUKlOWQLV ]X DQGHUHQ /HEHQVEHGUIQLVVHQ NRPPHQ 'DV LQ VLFK UXKHQGH 6HOEVWZHUWJHIKO LVW IU GLH +HU]HQVOLHEH HLQH VWDUNH %DVLV VLFK PLW GHU JHVDPWHQ 3HUV|QOLFKNHLW DXI ZXQGHUEDUH :HLVH QDFK DX‰HQ KLQ ]X ]HLJHQ 'LHVH 3HUV|QOLFKNHLW YHUVWHFNW VLFK QLFKW PHKU KLQWHU IDOVFKHU %HVFKHLGHQKHLW LVW QLFKW PHKU EORFNLHUW GXUFK YHUOHW]WH *HIKOH RGHU GXUFK ]X 8QUHFKW HPSIXQGHQH 'HPWLJXQJHQ VRQGHUQ JHWUDJHQ YRQ GHU QDWUOLFKHQ 6FK|QKHLW VWUDKOHQGHU /LHEH

'LH /LHEH XQVHUHV +HU]HQV ILQGHW LKUHQ NUDIWYROOHQ :HJ QDFK DX‰HQ GLH 6RQQH XQVHUHU 0LWWH ZLUG YRQ GHU (LWHONHLW EHIUHLW XQG LQ /LHEH LQ LKUHU $XVVWUDKOXQJ XQG :LUNXQJ HUK|KW

=XP $EVFKOX‰ GLHVHU &KDNUD%HKDQGOXQJ XPIDKUHQ ZLU ZLHGHU GUHLPDO GLH $XUD XQVHUHV 3DUWQHUV GDQNHQ XQG OHJHQ GLH (GHOVWHLQH ]XU 6HLWH XP VLH VSlWHU ]X UHLQLJHQ :LU KROHQ GDQQ GHQ 3DUWQHU GXUFK HLQH .|USHUEHUKUXQJ ]XUFN LQ GDV +LHU XQG -HW]W

'LH &KDNUD%DODQFH LVW HLQ ZXQGHUEDUHU $XVJOHLFK DOOHU (QHUJLHQ LQ XQV XQG ZLUNW JHUDGH GXUFK GDV =XVDPPHQIOLH‰HQ YRQ YHUVFKLHGHQHQ .UlIWHQ VR VWDUN KDUPRQLVLHUHQG XQG HUQHXHUQG 'LHVHU 3UR]H‰ ZLUG XQWHUVWW]W ZHQQ ZLU GDEHL DXI MHGHP (QHUJLH]HQWUXP HLQHQ (GHOVWHLQ DXIOHJHQ $EHU ZLU N|QQHQ XQV DXFK JHQDXVRJXW GDIU HQWVFKHLGHQ QXU DXI HLQ]HOQH (QHUJLH]HQWUHQ GLH HLQH EHVRQGHUH $NWLYLHUXQJ EHQ|WLJHQ HLQHQ (GHOVWHLQ DXI]XOHJHQ

:HQQ GHU (GHOVWHLQ GHQ ZLU DXI HLQ (QHUJLH]HQWUXP JHOHJW KDEHQ QLFKW DOO]X JUR‰ LVW N|QQHQ ZLU GLH +DQG GLUHNW GDUEHU OHJHQ 'DQQ IOLH‰W 5HLNL GLUHNW GXUFK GHQ 6WHLQ XQG VHLQH OHXFKWHQGHQ )DUEVWUDKOHQ LQ GDV (QHUJLH]HQWUXP ,VW GHU 6WHLQ GDJHJHQ VHKU JUR‰ LVW HV EHVVHU GLH +DQG GDQHEHQ ]X OHJHQ

',( 5(,.,6&+1(//%(+$1'/81* ,0 6,7=(1 

=XU 5HLNL%HKDQGOXQJ LP 6LW]HQ N|QQHQ ZLU VHKU JXW HLQHQ (GHOVWHLQ HLQEH]LHKHQ GHQ ZLU GHP (PSIDQJHQGHQ ]ZLVFKHQ GLH )‰H DXI GHQ %RGHQ OHJHQ RGHU EHVVHU QRFK LKP LQ GLH +lQGH JHEHQ GLH HU ZLH HLQH RIIHQH 6FKDOH DXI GHP 6FKR‰ RGHU GHQ 2EHUVFKHQNHOQ OLHJHQ KDW

'HQ (GHOVWHLQ ZlKOHQ ZLU ]XYRU LQWXLWLY GXUFK LQQHUH (LQVWLPPXQJ DXV EHJU‰HQ LKQ OLHEHYROO UHLQLJHQ LKQ XQG KDOWHQ LKQ LQ XQVHUHQ 5HLNL+lQGHQ GDPLW VHLQH /LFKWNUlIWH DNWLYLHUW ZHUGHQ 6HLQ OHXFKWHQGHU )DUEVWUDKO VWHLJW DXI XQG IOLH‰W EHLP 5HLNL*HEHQ YRQ VHOEVW GRUWKLQ ZR

XQVHUH +lQGH OLHJHQ

:HQQ HV P|JOLFK LVW VWHKHQ ZLU DQ GHU OLQNHQ 6HLWH XQVHUHV 3DUWQHUV

:LU OHJHQ XQVHUH +lQGH DXI GLH 6FKXOWHUQ 5HLNL IOLH‰W LQ 6FKPHU]EHUHLFKH GHU 6FKXOWHUQ ]X (UIDKUXQJHQ GLH DXI XQV ODVWHQ GLH ZLU XQV DXIJHODGHQ

XQG PLW GHQHQ ZLU 6FKXOGJHIKOH HQWZLFNHOW KDEHQ

:LU OHJHQ HLQH +DQG DXI GLH 6WLUQ GLH DQGHUH +DQG DXI GHQ +LQWHUNRSI 5HLNL IOLH‰W ]XP  (QHUJLH]HQWUXP 6WLUQ]HQWUXP 'ULWWHV $XJH 

:LU OHJHQ HLQH +DQG DXI GLH +DOVJUXEH RKQH GHQ +DOV GDEHL GLUHNW ]X EHUKUHQ GLH DQGHUH +DQG LQ GHQ 1DFNHQ 5HLNL IOLH‰W LQ GDV  (QHUJLH]HQWUXP +DOV]HQWUXP 

:LU OHJHQ HLQH +DQG DXI %UXVW XQG +HU]EHUHLFK GLH DQGHUH +DQG DXI GHQ 5FNHQ DXI JOHLFKH +|KH 5HLNL IOLH‰W ]XP  (QHUJLH]HQWUXP +HU]]HQWUXP 

:LU OHJHQ HLQH +DQG REHUKDOE GHV 1DEHOV DXI GLH DQGHUH +DQG DXI GHQ 5FNHQ LQ JOHLFKHU +|KH 5HLNL IOLH‰W LQ GDV  (QHUJLH]HQWUXP 6RODUSOH[XV]HQWUXP 0LWWH 

:LU OHJHQ HLQH +DQG XQWHUKDOE GHV 1DEHOV DXI GLH DQGHUH +DQG DXI GHQ 5FNHQ LQ JOHLFKHU +|KH 5HLNL IOLH‰W LQ GDV  (QHUJLH]HQWUXP 6DNUDO]HQWUXP )OLH‰HQ 

:LU OHJHQ HLQH +DQG DXI GHQ 8QWHUOHLE GLH DQGHUH +DQG DXI GDV 6WHL‰EHLQ 5HLNL IOLH‰W LQ GDV  (QHUJLH]HQWUXP %DVLV]HQWUXP 

=XP $EVFKOX‰ PDFKHQ ZLU ]XU 6WDELOLVLHUXQJ GHU (QHUJLH PLW HLQHU +DQG HLQHQ DXIZlUWVIKUHQGHQ (QHUJLHVWULFK YRP 6WHL‰EHLQ ]XP .RSI]HQWUXP EHU GHQ 6FKHLWHO

:LU GDQNHQ IU 5HLNL XQG GLH 8QWHUVWW]XQJ GHV (GHOVWHLQHV EHUKUHQ XQVHUHQ 3DUWQHU VDQIW GDPLW HU ZLHGHU LQ GDV $X‰HQ ]XUFNNRPPW 6SlWHU UHLQLJHQ ZLU GHQ 6WHLQ XQG KDOWHQ LKQ LQ XQVHUHQ 5HLNL+lQGHQ

'LHVH 5HLNL6FKQHOOEHKDQGOXQJ LP 6LW]HQ LVW HLQH ZXQGHUEDU NUDIWJHEHQGH VWDELOLVLHUHQGH DXIEDXHQGH %HKDQGOXQJ XQG GHVKDOE ]XP $XIWDQNHQ

JHHLJQHW =XJOHLFK VWHOOW VLH DEHU DXFK HLQH VHKU VFK|QH XQG ZLUNXQJVYROOH 0|JOLFKNHLW GDU HLQHP 0HQVFKHQ GHU 5HLNL NHQQHQOHUQHQ P|FKWH DXI GLHVH :HLVH HLQH 6FKQHOOEHKDQGOXQJ ]X JHEHQ 6LH VROOWH ]ZLVFKHQ    0LQXWHQ GDXHUQ

'DV %HVRQGHUH GLHVHU %HKDQGOXQJ LVW GLH JOHLFK]HLWLJH %HUKUXQJ XQG $NWLYLHUXQJ YRQ 5FNHQ XQG 9RUGHUN|USHU ,P 5FNHQ EUDXFKHQ ZLU +DOW %HZDKUHQGHV 6WDELOLWlW XQG 6FKXW] IU GLH 9RUGHUVHLWH XQVHUHV .|USHUV PLW GHU ZLU VHKU RIIHQ XQG YHUOHW]OLFK VLQG $OOH (QHUJLHQ QHKPHQ ZLU YRQ YRUQ DXI 8QVHUH (QHUJLH=HQWUHQ |IIQHQ VLFK ZLH %OWHQNHOFKH DXI GHU 9RUGHUVHLWH GHV .|USHUV KLHU VLQG ZLU VWlQGLJ LP (QHUJLHDXVWDXVFK :HQQ EHLGHV JOHLFK]HLWLJ PLW 5HLNL XQWHUVWW]W ZLUG HUVWDUNHQ GLH .UlIWH LQ VLFK XQG JHEHQ XQV HLQ *HIKO ZRKOWXHQGHU 6WDELOLWlW

',( 5(,.,6(/%67%(+$1'/81* 

'LH 5HLNL6HOEVWEHKDQGOXQJ N|QQHQ ZLU LP 6LW]HQ RGHU /LHJHQ GXUFKIKUHQ ,P 6LW]HQ LVW HV P|JOLFK HLQHQ (GHOVWHLQ GHVVHQ (QHUJLH ZLU LQ GLH %HKDQGOXQJ HLQEH]LHKHQ P|FKWHQ QDFK VHLQHU 9RUEHUHLWXQJ ]ZLVFKHQ XQVHUH )‰H DXI GHQ %RGHQ ]X OHJHQ 6HLQ OHXFKWHQGHU )DUEVWUDKO VWHLJW ZlKUHQG GHU 6HOEVWEHKDQGOXQJ DXI XQG ZLUG EHVRQGHUV GRUW YRQ XQV DXIJHQRPPHQ ZR MHZHLOV XQVHUH +lQGH DXIOLHJHQ

0DFKHQ ZLU GLH 6HOEVWEHKDQGOXQJ LP /LHJHQ N|QQHQ ZLU DXI HLQ]HOQH RGHU DOOH (QHUJLH]HQWUHQ HLQHQ (GHOVWHLQ DXIOHJHQ XQG DXI GLHVH :HLVH GHQ (QHUJLHIOX‰ YRQ 5HLNL LQWHQVLYLHUHQ 'LHV JHVFKLHKW YRQ VHOEVW XQG EHVRQGHUV GD ZR XQVHUH +lQGH JHUDGH DXIOLHJHQ

 =XHUVW OHJHQ ZLU EHLGH +lQGH DXI GDV *HVLFKW EHU GLH $XJHQ  (QHUJLH]HQWUXP 

 GDQQ VHLWOLFK ]X GHQ 6FKOlIHQ

 GDQDFK DP +LQWHUNRSI EHUHLQDQGHU

 GDQQ DXI +HU] XQG %UXVW    (QHUJLH]HQWUXP 

 GDQQ HLQH +DQG EHU XQG HLQH +DQG XQWHU GHQ 1DEHO    (QHUJLH]HQWUXP 

 GDQQ ELOGHQ ZLU PLW EHLGHQ +lQGHQ HLQ 7 DP 8QWHUOHLE  (QHUJLH]HQWUXP 

'LH $XVZLUNXQJHQ GLHVHU 5HLNL3RVLWLRQHQ DXI XQVHUHQ .|USHU XQG GLH IHLQVWRIIOLFKHQ 9RUJlQJH ZXUGHQ VFKRQ EHL GHU 5HLNL%HKDQGOXQJ LP /LHJHQ

EHVFKULHEHQ

5(,.,%(+$1'/81* 0,7 6,(%(1 %(621'(56 $86*(:b+/7(1 ('(/67(,1(1 

)DVW MHGH (GHOVWHLQDOW LVW ]XU 5HLNL%HKDQGOXQJ JHHLJQHW ,FK KDEH KLHU DXV MHGHP )DUEVWUDKO GLH ZLFKWLJVWHQ (GHOVWHLQH DXVJHZDOOW XQG LQ LKUHU :LUNVDPNHLW EHVFKULHEHQ 7URW]GHP VROOWHQ ZLU XQV EHZX‰W VHLQ GD‰ QRFK VHKU YLHO PHKU +HLOVDPHV JHVFKLHKW DOV ZDKUQHKPEDU XQG EHVFKUHLEEDU LVW

5RWHU )DUEVWUDKO *UDQDW 2UDQJHIDUEHQHU )DUEVWUDKO .DUQHRO *HOEHU )DUEVWUDKO %HUQVWHLQ &LWULQ 5XWLOTXDU] *UQHU )DUEVWUDKO &KU\VRSUDV 5RVDIDUEHQHU )DUEVWUDKO 5RVHQTXDU] +HOOEODXHU )DUEVWUDKO &KDO]HGRQ $TXDPDULQ 7LHIEODXHU )DUEVWUDKO /DSLVOD]XOL 9LROHWWHU )DUEVWUDKO $PHWK\VW 6WUDKOW LP NODUHQ /LFKW %HUJNULVWDOO

6,(%(1 *5$1$7(

IUHXGLJHU $XIEDX 9LWDOLWlW 7DWNUDIW

/HJHQ ZLU ]XU 5HLNL6HOEVW %HKDQGOXQJ DXI MHGHV +DXSWHQHUJLH]HQWUXP HLQHQ *UDQDW IOLH‰W HLQ VWDUN OHXFKWHQGHV NUlIWLJHV 5RW LQ DOOH (QHUJLHV\VWHPH

%HLP 5HLNL*HEHQ IOLH‰W VHKU YLHO /LFKWHQHUJLH ]X GHQ *UDQDWHQ XQG EHOHEW LKU OHXFKWHQGHV 5RW LP )HLQVWRIIOLFKHQ VR GD‰ HV ]XQHKPHQG LQ GHQ OHXFKWHQGURWHQ )DUEVWURP GHV 8QLYHUVXPV DXIVWHLJW :HVHQKHLWHQ GLHVHV )DUEVWURPHV GLH PLW GHU DXIVWHLJHQGHQ /LFKWHQHUJLH GHV *UDQDWHV YHUEXQGHQ VLQG VSUHQ GLHV IKOHQ VLFK JHUXIHQ  6LH IUHXHQ VLFK GDUEHU GHQQ DXI GLHVHQ 0RPHQW KDEHQ VLH JHZDUWHW VHLWGHP VLH GHQ *UDQDW LQ GHU (UGH ZDFKVHQ OLH‰HQ ,Q GLHVHP URWGXUFKIOXWHWHQ /HXFKWHQ XQG 6WUDKOHQ GDV YRQ GHU (UGH ]X LKQHQ DXIVWHLJW N|QQHQ VLH KHUDENRPPHQ LQ GLH JUREVWRIIOLFKHUHQ 6FKZLQJXQJHQ GHU 0DWHULH 'LH GXUFK 5HLNL DNWLYLHUWHQ *UDQDWVFKZLQJXQJHQ ODVVHQ EHL MHGHP DXIOLHJHQGHQ *UDQDW HLQHQ URWOHXFKWHQGHQ /LFKWNDQDO QDFK REHQ LQ GHQ URWHQ )DUEVWURP JHKHQ VR GD‰ GLH /LFKWZHVHQ GHV *UDQDW EHU GLHVHQ /LFKWVWUDKO LQ GLH 6FKZLQJXQJHQ GHU (QHUJLH]HQWUHQ XQG GDPLW LQ GDV (QHUJLHJHVFKHKHQ GHV 5HLNL(PSIDQJHQGHQ NRPPHQ N|QQHQ 6LH ODVVHQ LKU NUDIWYROO OHXFKWHQGHV 5RW EHU GLH GXUFK

5HLNL LQ LKUHU /LFKWHQHUJLH DNWLYLHUWHQ *UDQDWH YHUVWU|PHQ XQG EULQJHQ LQ DOOH HQHUJHWLVFKHQ 9RUJlQJH GLH EHU XQVHUH (QHUJLH]HQWUHQ HUUHLFKW ZHUGHQ GLH IU GHQ *UDQDW W\SLVFKH (QHUJLH GHV IUHXGLJHQ $XIEDXV XQG GLH GD]X EHQ|WLJWH 9LWDOLWlW $QWULHEVNUDIW 6SRQWDQHLWlW XQG 7DWNUDIW

'LHV LVW GDQQ EHVRQGHUV KLOIUHLFK ZHQQ VLFK HLQ 0HQVFK N|USHUOLFK VHKU NUDIWORV IKOW QDFK OlQJHUHU .UDQNKHLW JU|‰HUHP %OXWYHUOXVW EHL IHKOHQGHU $QWULHEVNUDIW XQG /HEHQVPRWLYDWLRQ LQ $XIEDXSKDVHQ VHL HV DXI PDWHULHOOHU N|USHUOLFKHU H[LVWHQWLHOOHU EHUXIOLFKHU SHUV|QOLFKHU RGHU HLQHU DQGHUHQ (EHQH

'HU *UDQDW LQ GHQ HLQ]HOQHQ (QHUJLH]HQWUHQ

,P  (QHUJLH]HQWUXP WULIIW GDV OLFKWGXUFKIOXWHWH 5RW GHV *UDQDW DXI GLH GRPLQLHUHQGH 6FKZLQJXQJ GHV (QHUJLH]HQWUXPV XQG XQWHUVWW]W GHPHQWVSUHFKHQG GHVVHQ +DXSWIXQNWLRQ )UHXGYROOHU $XIEDX +HUDXVIRUGHUXQJHQ GHU 0DWHULH .|USHUJHVFKHKHQ %HLVSLHOVZHLVH VRUJW GLH *UDQDWHQHUJLH IU HLQHQ JHVXQGHQ %OXW XQG =HOODXIEDX IU HLQH +DUPRQLVLHUXQJ GHV %OXWELOGHV IU YLWDOH 6H[XDOLWlW XQG $QWULHEVNUDIW IU GHQ $XIEDX HLQHU 3DUWQHUVFKDIW XQG )DPLOLH IU GLH %HIULHGLJXQJ H[LVWHQWLHOOHU %HGUIQLVVH IU GHQ $XIEDX HLQHU EHUXIOLFKHQ .DUULHUH IU HLQ DNWLYHV G\QDPLVFKHV /HEHQVJHIKO

,P  (QHUJLH]HQWUXP YHUVWlUNW GLH NUDIWYROOH OHEHQVVSHQGHQGH XQG LPSXOVLYH OHXFKWHQGURWH 6FKZLQJXQJ GHV *UDQDW GDV )OLH‰HQ  GHQ %OXWNUHLVODXI XQG GLH 'XUFKEOXWXQJ PRWLYLHUW XQV LQ $XVHLQDQGHUVHW]XQJHQ PLW GHP 'X  GHP 3DUWQHU XQG LQ (QWVFKHLGXQJVVLWXDWLRQHQ VSRQWDQ NUHDWLY XQG WDWNUlIWLJ ]X VHLQ Ol‰W XQV SUDNWLVFK XQG SKDQWDVLHYROO KDQGHOQ 'LH )UHXGH DP *HOLQJHQ EULQJW XQV LQ 6FKZXQJ

,P  (QHUJLH]HQWUXP ZLUNW GHU URWH *UDQDW DXIEDXHQG DXI GLH =HOOHUQHXHUXQJ YRQ /HEHU *DOOH 0DJHQ 0LO] XQG %DXFKVSHLFKHOGUVH XQG LQWHQVLYLHUW GHQ $EEDX XQG $EWUDQVSRUW YRQ 6FKODFNHVWRIIHQ 'HU *UDQDW VWlUNW DEHU DXFK XQVHU 6HOEVWEHZX‰WVHLQ HUPXWLJW XQV G\QDPLVFKHU XQG VSRQWDQHU DXV XQV KHUDXV]XJHKHQ WUHLEW XQV YRUDQ XQV PHKU ]X]XWUDXHQ XQG DXV]XIKUHQ ZDV XQV ZLFKWLJ LVW 7DWNUlIWLJHU 0XW KLOIW GD‰ ZLU %ORFNDGHQ EHUZLQGHQ GLH XQV EHKLQGHUQ

,P  (QHUJLH]HQWUXP +HU]]HQWUXP ZLUG GDV =HQWUXP XQVHUHU /LHEH PLW GHU IOLH‰HQGHQ URWHQ *UDQDWHQHUJLH YHUVWlUNW $XI GHU N|USHUOLFKHQ (EHQH HUKlOW EHVRQGHUV GHU +HU]PXVNHO XQG GDPLW GLH (QHUJLHYHUVRUJXQJ GHU *HZHEH VRZLH GHU .UHLVODXI HLQH VWDUNH 9LWDOLVLHUXQJ 8QVHUH )lKLJNHLW ]X OLHEHQ ZLUG LQ IUHXGLJH (UUHJXQJ YHUVHW]W 6SRQWDQHLWlW XQWHUVWW]W XQV PHKU /LHEH

]X]XODVVHQ XQG KLOIW XQV GLH ORGHUQGH )ODPPH XQVHUHU +HU]HQVOLHEH GXUFK GDV (USUREHQ GHU )HXHUNUDIW NHQQHQ]XOHUQHQ

,P  (QHUJLH]HQWUXP NRPPW GDV VWUDKOHQGH *UDQDWURW LQ GDV +DOV]HQWUXP XQG DNWLYLHUW GLH .UDIW XQVHUHU VSUDFKOLFKHQ $XVGUXFNVP|JOLFKNHLWHQ :LU VSUXGHOQ VSUDFKOLFK JHUDGH]X EHU YRU )UHXGH XQG KDEHQ HV OHLFKWHU QHXH .RQWDNWH DXI]XQHKPHQ XQG 9HUELQGXQJHQ DXI]XEDXHQ

,P  (QHUJLH]HQWUXP IRUGHUW VHLQ URWHV /HXFKWHQ GHQ *ODXEHQ DQ XQV VHOEVW KHUDXV XQG HQWIDOWHW GLH :LOOHQVNUDIW ]XU 9HUZLUNOLFKXQJ XQVHUHU 3OlQH XQG 9RUKDEHQ ]XU %HIULHGLJXQJ H[LVWHQWLHOOHU %HGUIQLVVH 7DWNUDIW XQG *ODXEHQVNUDIW ODVVHQ KRKH =LHOH :LUNOLFKNHLW ZHUGHQ

,P  (QHUJLH]HQWUXP Ol‰W XQV GLH URWH *UDQDWVFKZLQJXQJ PLW )UHXGH XQG (LIHU PHGLWLHUHQ 6LH YHUVWlUNW LQ XQV GLH (LQJHEXQJHQ XQG ,GHHQ IU GLH SUDNWLVFKHQ (UIRUGHUQLVVH XQVHUHV $OOWDJV 'LH )UHXGH DQ GHU )OOH GHU 0|JOLFKNHLWHQ LGHHOOHU XQG PDWHULHOOHU :RKOVWDQG JHKHQ XQV GDV *HIKO YRQ 5HLFKWXP DXI DOOHQ (EHQHQ

:HQQ GLH $QWULHEVVFKZlFKH DXI N|USHUOLFKH 0DQJHOHUVFKHLQXQJHQ ]XUFN]XIKUHQ LVW KHOIHQ JDQ] EHVRQGHUV *UDWH GLH LQ RYDOHU )RUP JHVFKOLIIHQ VLQG VHL HV DOV &DERFKRQ RGHU LQ )DFHWWHQ 'HU &DERFKRQ LVW ZHLFKHU  VDQIWHU EHKXWVDPHU LQ VHLQHU $QWULHEVNUDIW -HGHU IDFHWWLHUW JHVFKOLIIHQH *UDQDW LVW HLQ %UHQQSXQNW XQG IRUFLHUW GLH DNWLYLHUWHQ $VSHNWH QRFKPDOV

,VW GLH $QWULHEVVFKZlFKH HKHU SV\FKLVFKHQ 8UVSUXQJV IHKOW GLH 0RWLYDWLRQ VLQG (PRWLRQHQ VWDUN ]XUFNJHKDOWHQ VLQG GLH WURSIHQI|UPLJ JHVFKOLIIHQHQ *UDQDWH EHVRQGHUV GLH IDFHWWLHUWHQ OHXFKWHQGURWHQ KLOIUHLFK

)HKOHQ GLH LPSXOVJHEHQGHQ VSRQWDQHQ ,GHHQ IU GHQ 1HXDXIEDX JHEHQ UXQGH )RUPHQ LP &DERFKRQ RGHU )DFHWWHQVFKOLII EHVRQGHUH 8QWHUVWW]XQJ

'HU UXQGJHVFKOLIIHQH *UDQDW&DERFKRQ EHUXKLJW HUKLW]WH *HPWHU XQG EULQJW VRPLW PHKU *HODVVHQKHLW LQ GLH *HGDQNHQZHOW

'HU UXQGH *UDQDW LP )DFHWWHQVFKOLII ZLUNW LQ MHGHU $NWLYLHUXQJVHQHUJLH QRFK ]XVlW]OLFK VWDUN NRQ]HQWULHUHQG

=XU .RQNUHWLVLHUXQJ GHU .RQ]HSWH HLQHV 1HXDXIEDXV LQ HLQHP H[LVWHQWLHOOHQ %HUHLFK XQVHUHV /HEHQV LVW GHU UHFKWHFNLJH *UDQDW LQ )DFHWWHQ PHLVW LP $FKWHFNVFKOLII GHU JHHLJQHWH +HOIHU GD HU YLHOVHLWLJH )UHXGH XQG 7DWNUDIW ]XP $XIEDX QLFKW QXU DXVO|VW VRQGHUQ DXFK PDQLIHVWLHUW XQG LQ GLH

SK\VLVFKH 5HDOLWlW XPVHW]W

:LU N|QQHQ HLQHUVHLWV GLHVHOEH )RUP IU DOOH (QHUJLH]HQWUHQ DXVZlKOHQ ZLU N|QQHQ XQV DEHU DXFK DXI MHGHV (QHUJLH]HQWUXP GLIIHUHQ]LHUW HLQVWLPPHQ XQG HLQH EHVRQGHUH )RUP GLH GHQ MHZHLOLJHQ %HGUIQLVVHQ GHV (QHUJLH]HQWUXPV DP PHLVWHQ HQWVSULFKW DXVZlKOHQ

'HU 7URPPHOVWHLQ HLJQHW VLFK ]XU DOOJHPHLQHQ $NWLYLHUXQJ GHU *UDQDW(QHUJLH DXI DOOHQ (EHQHQ XQG OHLVWHW YRUEHUJHKHQG +LOIH ZHQQ PDQ VLFK QRFK QLFKW IHVWOHJHQ P|FKWH 6SlWHU NDQQ GDQQ GLH (QHUJLH EHU H[SRQLHUWHUH )RUPHQ LQ HLQGHXWLJHUH %DKQHQ JHOHQNW ZHUGHQ 'LH OHXFKWHQGURWHQ 6FKZLQJXQJHQ XQG /LFKWZHVHQ GLH EHU GHQ *UDQDW ]X XQV NRPPHQ GXUFKIOXWHQ XQV JDQ] PLW GLHVHP 5RW 'LHV LVW HLQH VHKU VWDUNH $NWLYLHUXQJ GLH ZLU ZLUNOLFK QXU ZlKOHQ VROOWHQ ZHQQ HLQ 0HQVFK VHKU DXVJHODXJW NUDIWORV DQWULHEVVFKZDFK DP /HEHQ GHVLQWHUHVVLHUW RGHU LQ HLQHU *HQHVXQJVSKDVH QDFK HLQHU .UDQNKHLW RGHU 2SHUDWLRQ LVW

6,(%(1 .$51(2/(

'XUFKIOXWXQJ %HZHJXQJ LP )OX‰ VHLQ

:LU OHJHQ ]XU 5HLNL6HOEVW %HKDQGOXQJ DXI MHGHV (QHUJLH]HQWUXP HLQHQ .DUQHRO 0LW 5HLNL EULQJHQ ZLU VHLQ ZDUPHV 2UDQJH ]XP /HXFKWHQ GDV LQ MHGHV (QHUJLH]HQWUXP KLQHLQIOLH‰W XQG VLFK ]X HLQHP VWDUNHQ RUDQJHIDUEHQHQ (QHUJLHVWURP YHUHLQLJW 8QVHU JHVDPWHV (QHUJLHV\VWHP ZLUG GDYRQ GXUFKIOXWHW XQG LQ XQVHUHP /HEHQVVWURP ZLUG GHU RUDQJHIDUEHQH 6WUDKO VHKU VWDUN 2EHU MHGHV VR DNWLYLHUWH (QHUJLH]HQWUXP XQG EHU GHQ /HEHQVVWURP VWHLJHQ RUDQJHIDUEHQH /LFKWVFKZLQJXQJHQ DXI LQ GLH :HOW GHU JUR‰HQ NRVPLVFKHQ )DUEVWU|PH XQG UXIHQ GLH /LFKWZHVHQ GHU .DUQHROH LQ GLH 0DWHULH ]X LKUHP 6WHLQ 6LH OHQNHQ GDV YRQ 5HLNL GXUFKIOXWHWH RUDQJHIDUEHQH /LFKW GHU .DUQHROH LQ XQVHUHP (QHUJLHV\VWHP XQG EHZLUNHQ PLW GLHVHP EHVWlQGLJ IOLH‰HQGHQ 2UDQJH GD‰ VLFK 6WDXXQJHQ $EODJHUXQJHQ 9HUKlUWXQJHQ %ORFNDGHQ O|VHQ N|QQHQ XQG LQ GLHVHP JUR‰HQ )OLH‰HQ XQG 6WU|PHQ KLQZHJJHWUDJHQ ZHUGHQ 'LHV O|VW HLQHUVHLWV HLQH LQWHQVLYH SXOVLHUHQGH %H 5HLQLJXQJ DXV DQGHUHUVHLWV HLQH (QHUJLH DXIODGXQJ GLH XQVHU /HEHQVJHIKO HUK|KW

'HU .DUQHRO LQ GHQ HLQ]HOQHQ (QHUJLH]HQWUHQ

,P  (QHUJLH]HQWUXP EULQJW GHU .DUQHRO PHKU %HZHJOLFKNHLW XQG (ODVWL]LWlW VRZLH HLQH JHZLVVH (UOHLFKWHUXQJ XQG HLQ :RKOJHIKO LQ GDV HKHU LPSXOVLYH

DJJUHVVLYH XQV ]XU hEHUOHEHQVVLFKHUXQJ VWHWV DQWUHLEHQGH (QHUJLHSRWHQWLDO :LU N|QQHQ PLW GHQ $QIRUGHUXQJHQ XQG +HUDXVIRUGHUXQJHQ GHV $OOWDJV JHO|VWHU XQG VHKU YLHO JHVFKPHLGLJHU XPJHKHQ

,P  (QHUJLH]HQWUXP IOLH‰W GLH /LFKWHQHUJLH GHV .DUQHROV LQ GHQ +DXSWHQHUJLHVWURP GLHVHV =HQWUXPV GHU LP 2UDQJH VFKZLQJW +LHU XQWHUVWW]HQ GLH /LFKWZHVHQ GHV .DUQHROV GDV )OLH‰HQ LQ XQV $XI GHU N|USHUOLFKHQ (EHQH KDW GLHV HLQHQ EHVRQGHUV KDUPRQLVLHUHQGHQ (LQIOX‰ DXI GHQ %OXWNUHLVODXI GLH 'XUFKEOXWXQJ GHQ %OXWGUXFN XQG LVW VHKU KLOIUHLFK EHL .UDPSIDGHUQ *OHLFK]HLWLJ ZHUGHQ GLH 1LHUHQ GXUFKVSOW JHUHLQLJW XQG HQWODVWHW 6HKU VWDUN LVW GLH $XVZLUNXQJ DXI GHU *HIKOVHEHQH ZR ZLU LQ GLHVHP =HQWUXP GLH $XVHLQDQGHUVHW]XQJ PLW GHP 'X  PLW GHP 3DUWQHU PLW GHP ZDV ZLU DOV DQGHUV XQG DOV JHWUHQQW YRQ XQV HUOHEHQ ZDV ZLU DEOHKQHQ EHZXQGHUQ RGHU ]X EHZlOWLJHQ KDEHQ 'DV EHVWlQGLJH )OLH‰HQ GLH IOXWHQGH ZRKOWXHQGH :lUPH GHV .DUQHROV Ol‰W XQV IUHLHU IOH[LEOHU XQG NUHDWLYHU PLW XQVHUHU 8PZHOW XPJHKHQ XQG KLOIW *HIKOVVWDXXQJHQ XQG 9HUKlUWXQJHQ ]X O|VHQ $XI GHU 6FKZLQJXQJVHEHQH XQVHUHU *HGDQNHQ 9RUVWHOOXQJHQ ,GHHQ XQG ,GHDOH EHUVFKZHPPW XQV GHU .DUQHRO PLW VHLQHP )OLH‰HQ XQG EULQJW GDPLW HUVWDUUWH 'HQNPXVWHU XQG HLQJHIURUHQH 6HOEVWNRQ]HSWH LQ JUR‰]JLJHUH %DKQHQ Ol‰W XQV HQWVFKHLGXQJVIUHXGLJHU VHLQ

,P  (QHUJLH]HQWUXP EULQJW GDV OHXFKWHQGH 2UDQJH GHV .DUQHROV XQVHUHU 6RQQHQNUDIW HLQH IOLH‰HQGH :lUPHHQHUJLH GLH LQ GLH $XVVWUDKOXQJ XQVHUHV 6HOEVWEHZX‰WVHLQV PHKU 3KDQWDVLH XQG HLQ HQWVSDQQWHV 9HUKDOWHQ EULQJW :LU ILQGHQ DXV H[WUHPHQ 9HUKDOWHQVZHLVHQ ZLHGHU ]XU 0LWWH

,P  (QHUJLH]HQWUXP VWlUNW GLH .DUQHROHQHUJLH XQVHUH +HU]WlWLJNHLW EULQJW DXI GHU *HIKOVHEHQH HLQ 0HHU YRQ XQJHZHLQWHQ 7UlQHQ DXV GHQ VFKPHU]OLFKHQ (ULQQHUXQJHQ GHU 6HHOH LQ %HZHJXQJ GDPLW VLH IOLH‰HQ N|QQHQ XQG XQV (UOHLFKWHUXQJ XQG /|VXQJ YRQ EHODVWHQGHQ YHUOHW]WHQ *HIKOHQ HUP|JOLFKHQ

,P  (QHUJLH]HQWUXP EHOHEW GHU .DUQHRO PLW VHLQHP OHXFKWHQGHQ 2UDQJH XQVHUH .RPPXQLNDWLRQ XQG XQVHU %HGUIQLV XQV PLW]XWHLOHQ 6SUDFKOLFKH +HPPXQJHQ N|QQHQ VLFK OHLFKWHU O|VHQ :HQQ GLH $WHPZHJH HUNUDQNW VLQG IOLH‰W PLW GHP .DUQHRO ZRKOWXHQGH O|VHQGH :lUPH GXUFK GLHVHQ N|USHUOLFKHQ %HUHLFK

,P  (QHUJLH]HQWUXP JLEW GHU OHXFKWHQG RUDQJHIDUEHQH (QHUJLHVWURP GHV DXIOLHJHQGHQ .DUQHROV XQVHUHQ *HGDQNHQ NUHDWLYVFK|SIHULVFKH ,PSXOVH 'LH *HGDQNHQVWU|PH NRPPHQ LQ IOLH‰HQGH 6FKZLQJXQJHQ GLH ,GHHQ XQG SKDQWDVLHYROOH (LQJHEXQJHQ OHLFKWHU DXIQHKPHQ XQG ZHLWHUOHLWHQ N|QQHQ +RKH =LHOH XQG ,GHDOH ZHUGHQ YRQ (LQVHLWLJNHLWHQ XQG (UVWDUUXQJHQ EHIUHLW LQ XQVHUH 6HOEVWNRQ]HSWH XQG *ODXEHQVNUDIW NRPPW EHOHEHQGHU 6FKZXQJ XQG

YHUWUHLEW HLQH JHZLVVH /DQJHZHLOH

,P  (QHUJLH]HQWUXP KLOIW XQV GHU RUDQJH OHXFKWHQGH .DUQHRO LQ .RQWDNW PLW XQVHUHU +|KHUHQ )KUXQJ ]X NRPPHQ XQG (QWVFKHLGXQJHQ PLW J|WWOLFKHU ,QWXLWLRQ ]X WUHIIHQ

(LQH 5HLNL.DUQHRO%HKDQGOXQJ LVW GDQQ EHVRQGHUV KLOIUHLFK ZHQQ PHKU 6FKZXQJ )OH[LELOLWlW 3KDQWDVLH XQG /HLFKWLJNHLW JHEUDXFKW ZHUGHQ

%HL .UDPSIDGHUQ 'XUFKEOXWXQJV XQG %OXWGUXFNVW|UXQJHQ VRZLH 1LHUHQSUREOHPHQ LVW HLQ RYDOHU .DUQHROFDERFKRQ EHVRQGHUV ZLUNVDP GD GLHVH )RUP GLH (QHUJLH LQ GLH .|USHUHEHQH IOLH‰HQ Ol‰W

=HLJHQ VLFK YHUPHKUW 6SDQQXQJHQ LP 3DUWQHUVFKDIWVEHUHLFK LVW GHU .DUQHRO DOV 7URPPHOVWHLQ HKHU JHHLJQHW GD ZLU PLW VHLQHQ EHVWlQGLJ IOLH‰HQGHQ (QHUJLHQ OHUQHQ LQ GHQ DXIUHLEHQGHQ 6LWXDWLRQHQ QLFKW VWHFNHQ ]X EOHLEHQ VRQGHUQ )lKLJNHLWHQ ]X HQWZLFNHOQ IHLQIKOLJ PLWHLQDQGHU XP]XJHKHQ XQG GDV /HEHQ WURW] DOOHU 5HLEXQJVSXQNWH DN]HSWLHUHQ ]X N|QQHQ

6,(%(1 %(5167(,1(

(UIROJVEHKDQGOXQJ

'LH 5HLNL6HOEVW %HKDQGOXQJ PLW %HUQVWHLQ EULQJW OHXFKWHQGHV +RQLJ*HOE LQ XQVHUHQ /HEHQVVWURP XQG HUP|JOLFKW YLHOHQ VRQQHQKDIWHQ :HVHQ XQV LKUH )UHXGH PLWHUOHEHQ ]X ODVVHQ XQG XQV ]X GHQ 0HQVFKHQ ]X IKUHQ GLH XQV ]XP (UIROJ YHUKHOIHQ

'LH *DQ]KHLWOLFKH 'XUFKIOXWXQJ XQVHUHV (QHUJLHV\VWHPV PLW GHU )UHXGH DP (UIROJ O|VW DXI DOOHQ (EHQHQ GLH %ORFNDGHQ bQJVWH XQG 6HOEVWNRQ]HSWH GLH XQVHUHQ (UIROJ EH XQG YHUKLQGHUQ JLEW XQV GLH .UDIW XQG $XVGDXHU HLQ =LHO ]X HUUHLFKHQ (LQ ZRQQLJHV /HEHQVJHIKO GXUFKVWU|PW XQV ZHQQ ZLU GHQ (UIROJ ]XODVVHQ

'HU %HUQVWHLQ LQ GHQ HLQ]HOQHQ (QHUJLH]HQWUHQ

,P , (QHUJLH]HQWUXP ZLUG EHVRQGHUV GHU (UIROJ LP ([LVWHQWLHOOHQ 0DWHULHOOHQ XQWHUVWW]W :LU ZHUGHQ ]X



0HQVFKHQ JHIKUW GLH XQV EHLVSLHOVZHLVH ]X EHUXIOLFKHP ILQDQ]LHOOHP XQGRGHU SHUV|QOLFKHP (UIROJ YHUKHOIHQ 0LW LKUHU +LOIH ILQGHQ ZLU HLQ +DXV HLQH :RKQXQJ HLQHQ 3DUWQHU JXWH *HVFKlIWVYHUELQGXQJHQ JHHLJQHWH 3UD[LVUlXPH 

,P  (QHUJLH]HQWUXP IOLH‰W GLH KRQLJJHOEH

%HUQVWHLQ(QHUJLH LQ GLH

%H]LHKXQJV XQG 3DUWQHUVFKDIWVHEHQH +LHU O|VHQ GLH VRQQHQKDIWHQ :HVHQ 9HUKDOWHQVZHLVHQ DXI GLH LPPHU ZLHGHU HUIROJUHLFKH %H]LHKXQJHQ ]HUVW|UHQ RGHU JDU QLFKW HUVW =XVWDQGHNRPPHQ ODVVHQ ZROOHQ XQG UHJHQ GLH .UHDWLYLWlW XQG 3KDQWDVLH DQ GLH XQV LP 8PJDQJ PLW DQGHUHQ 0HQVFKHQ HUIROJUHLFK VHLQ Ol‰W

,P  (QHUJLH]HQWUXP YHUELQGHQ VLFK GLH :HVHQ GHV %HUQVWHLQV PLW GHU LQ GLHVHP =HQWUXP GRPLQLHUHQGHQ JHOEHQ 6FKZLQJXQJ PLW XQVHUHU LQQHUHQ 6RQQH  'LHV KDW VWDUNH $XVZLUNXQJHQ DXI XQVHU 6HOEVWEHZX‰WVHLQ VR GD‰ ZLU EHU XQVHUHQ 6FKDWWHQ VSULQJHQ XQG JUR‰H (UIROJH ]XODVVHQ N|QQHQ 'DEHL EHUZLQGHQ ZLU bQJVWH YRU %HJHJQXQJHQ XQG +HUDXVIRUGHUXQJHQ 0LQGHUZHUWLJNHLWVJHIKOH DEHU DXFK EHUK|KWH 6HOEVWHLQVFKlW]XQJHQ EHUVWHLJHUWHQ (KUJHL] XQG *HOWXQJVWULHE 'XUFK XQVHUH VRQQLJH $XVVWUDKOXQJVNUDIW VSULQJW OHEHQGLJH /HEHQVIUHXGH DXI DQGHUH EHU XQG WUlJW YRQ VHOEVW GD]X EHL GD‰ XQVHUH $QZHVHQKHLW YRQ DOOHQ VHKU JHVFKlW]W ZLUG 2KQH HV ]X ZROOHQ VWHKHQ ZLU LP 0LWWHOSXQNW GHU $XIPHUNVDPNHLW XQG OHUQHQ GDEHL HLQ QDWUOLFKHV 6HOEVWYHUVWlQGQLV *UR‰]JLJNHLW XQG )UHXGH ]X HQWIDOWHQ XQG DXV]XVWUDKOHQ

,P  (QHUJLH]HQWUXP YHUELQGHW VLFK GDV OHXFKWHQGH +RQLJJHOE GHV %HUQVWHLQV PLW XQVHUHU +HU]HQVOLHEH 6HLQH (QJHO O|VHQ VHKU YLHO +HU]HQVZlUPH IUHXGH XQG *WH DXV XQG |IIQHQ XQV DXI GLHVH :HLVH GLH 7RUH ]XP (UIROJ 0LW +HU]

HUREHUQ ZLU XQV LQ GLHVHU 6FKZLQJXQJ GLH :HOW 'DV ZDV XQV HLQHUVHLWV HUIROJUHLFK LQ +HU]HQVDQJHOHJHQKHLWHQ VHLQ Ol‰W WUlJW DQGHUHUVHLWV DOO XQVHU 6WUHEHQ QDFK (UIROJ PLW 0LWJHIKO XQG /LHEH :LU NRPPHQ QLFKW DXI .RVWHQ YRQ DQGHUHQ ]XP (UIROJ VRQGHUQ DXV )UHXGH XQG %HJHLVWHUXQJ DXV /LHEH ]XP /HEHQ

,P  (QHUJLH]HQWUXP JLEW GHU %HUQVWHLQ XQVHUHU 6WLPPH HLQHQ ZRKOWXHQGHQ .ODQJ GHU VRJDU VHKU YHUORFNHQG XQG YHUIKUHULVFK VHLQ NDQQ RKQH JHNQVWHOW ]X ZLUNHQ 'LHV Ol‰W XQVHUH .RPPXQLNDWLRQ HUIROJUHLFK ZHUGHQ $XI GHU N|USHUOLFKHQ (EHQH KDW GHU KRQLJJHOEH %HUQVWHLQ KHLOVDPH $XVZLUNXQJHQ DXI YHUVFKOHLPWH $WHPZHJH

,P  (QHUJLH]HQWUXP GXUFKVWU|PW GHU HUIROJEULQJHQGH (QHUJLHVWURP GHV %HUQVWHLQV PLW VHLQHP OHXFKWHQGHQ *HOE XQVHUH 6HOEVWNRQ]HSWH GLH *HGDQNHQVWUXNWXUHQ XQG 'HQNPXVWHU IRUPHQ 'LH VRQQLJHQ :HVHQ GHV %HUQVWHLQV

OHJHQ KLHU GHQ *UXQGVWHLQ IU HLQH HUIROJUHLFKH /HEHQVHUZDUWXQJ :LU |IIQHQ XQV IU HLQ HUIROJUHLFKHV /HEHQVNRQ]HSW GHQQ ZLU N|QQHQ XQV YRUVWHOOHQ HUIROJUHLFK ]X VHLQ

,P  (QHUJLH]HQWUXP XQWHUVWW]W GHU %HUQVWHLQ GHQ (UIROJ LQ GHU 0HGLWDWLRQ LP *HEHW LQ GHU ,QQHQVFKDX 6HLQH /LFKWZHVHQ KHOIHQ XQV GXUFK GLH (QWIDOWXQJ YRQ %HVWlQGLJNHLW XQG $XVGDXHU HUIROJUHLFK ]X VHLQ LQ XQVHUHU (LQNHKU QDFK ,QQHQ LQ XQVHUHU %HJHJQXQJ PLW GHP +|FKVWHQ

%HUQVWHLQH ZHUGHQ PHLVW LQ 3KDQWDVLHIRUPHQ JHVFKOLIIHQ VLQG DEHU DXFK DOV 7URPPHOVWHLQH XQG LP &DERFKRQ6FKOLII ]X ILQGHQ 'LH *U|‰H GHV 6WHLQHV VHLQ OHXFKWHQGHV *HOE XQG VHLQH (LQVFKOVVH HQWVFKHLGHQ VWlUNHU DOV VHLQH lX‰HUH )RUP EHU GLH :LUNXQJVZHLVH 'LH PHKU LQV FRJQDFIDUEHQH *HOE EHUJHKHQGHQ %HUQVWHLQH O|VHQ VHKU YLHO PHKU HUGEH]RJHQH (UIROJVNUDIW DXV ZlKUHQG GLH KHOOHUHQ VRQQHQJHOEHQ GHQ (UIROJ LQ GHU (QWIDOWXQJ XQG $XVVWUDKOXQJ YRQ /LFKWHQHUJLH DXI DOOHQ (EHQHQ XQWHUVWW]HQ ,FK DUEHLWH DP OLHEVWHQ PLW GHQ OHXFKWHQGHQ KHOOHUHQ %HUQVWHLQHQ PLW (LQVFKOVVHQ GLH ZLH NOHLQH 6RQQHQ DXVVHKHQ 6LH I|UGHUQ XQVHUH %HJHJQXQJ PLW 0HQVFKHQ GLH DXI XQVHUHP :HJ LP /LFKW XQVHU 6RQQHQEHZX‰WVHLQ VWlUNHQ

6HOEVW ZHQQ ZLU 7URPPHOVWHLQH YHUZHQGHQ ZLUG DXI DOOHQ (EHQHQ HLQH (UIROJVVFKZLQJXQJ DNWLYLHUW :LU N|QQHQ VLH ZHVHQWOLFK HUK|KHQ LQGHP ZLU DXI HLQ (QHUJLH]HQWUXP GHVVHQ (UIROJVDXVVWUDKOXQJ ZLU DP PHLVWHQ YHUVWlUNHQ P|FKWHQ VWDWW HLQHV 7URPPHOVWHLQV HLQHQ VFK|QHQ JUR‰HQ %HUQVWHLQ OHJHQ

'LHVH (UIROJV%HKDQGOXQJ PLW GHQ VLHEHQ %HUQVWHLQHQ HPSIHKOH LFK DOOHQ 0HQVFKHQ GLH VLFK EHZX‰W RGHU LQVJHKHLP QDFK (UIROJ VHKQHQ XQG WURW]GHP QLFKW PLW )UHXGH HUIROJUHLFK VLQG $XFK ZHQQ HLQ QHXHU /HEHQVDEVFKQLWW VLFK DQEDKQW ZHQQ ZLU HWZDV 1HXHV EHJLQQHQ LVW GLHVH %HKDQGOXQJ EDKQEUHFKHQG IU GHQ (UIROJ 'HU %HUQVWHLQ PLW 6RQQHQHLQVFKOVVHQ LVW HLQ *OFNVEULQJHU

6,(%(1 &,75,1(

:HLVKHLW 8PVHW]XQJ JHLVWLJHU (UNHQQWQLVVH

0LW GHQ &LWULQHQ NRPPW OLFKWHV *HOE LQ XQVHUHQ /HEHQVVWURP XQG LQ XQVHUH $XVVWUDKOXQJ 'DV LQ GLH OLFKWH :HOW DXIVWHLJHQGH OHXFKWHQGH IHLQH *HOE LVW IU GLH /LFKWZHVHQ LP JHOEHQ )DUEVWURP GDV 6LJQDO GD‰ VLH DXI (UGHQ JHEUDXFKW ZHUGHQ /HXFKWHQG YRU )UHXGH NRPPHQ VLH ]X LKUHQ 0DQLIHVWDWLRQHQ GHQ &LWULQHQ GHUHQ /LFKWVFKZLQJXQJHQ GXUFK 5HLNL VR VWDUN JHZRUGHQ VLQG

GD‰ LKUH :HVHQ DXI GHQ OHXFKWHQGJHOEHQ 6WUDKOHQ ]X XQV NRPPHQ N|QQHQ

1XU ZHQLJH &LWULQH VLQG LQ GHU (UGH EHUHLWV DOV JHOEH &LWULQH JHZDFKVHQ 'LH PHLVWHQ VLQG DXV GHP YLROHWWHQ $PHWK\VW JHEUDQQW ZRUGHQ 'HU QDWUOLFKH &LWULQ XQG VHLQH OLFKWHQ :HVHQ DNWLYLHUHQ VHKU VWDUN GLH EHUHLWV LQ 9RUOHEHQ EHZX‰W JHZRUGHQH :HLVKHLW XQVHUHU 6HHOH (U EULQJW VLH ZLHGHU NUDIWYROO ]X %HZX‰WVHLQ DNWLYLHUW XQVHU VSLULWXHOOHV /HEHQ (V LVW HLQH VHKU IHLQH XQG NODUH (QHUJLH GLH HLQ :LVVHQ EHUKUW GDV WLHI LQ XQV OLHJW :LU OHUQHQ HV ZLHGHU LQ (LQIDFKKHLW XQG HUKDEHQHU 6WLOOH QDFK DX‰HQ ]X WUDJHQ XQVHUH :HLVKHLW OHEHQGLJ VLFKWEDU XQG OHEEDU ZHUGHQ ]X ODVVHQ

$QGHUV ZLUNW GLH (QHUJLH GHU &LWULQH GLH ]XYRU $PHWK\VWH ZDUHQ $OV $PHWK\VW ZDUHQ VLH PLW GHP YLROHWWHQ )DUEVWUDKO YHUEXQGHQ YRQ GHVVHQ /LFKWZHVHQ VLH DXI (UGHQ PDQLIHVWLHUW ZXUGHQ 6LH NRPPHQ DXV GHU K|FKVWHQ 6FKZLQJXQJVIUHTXHQ] GLH XQVHU %HZX‰WVHLQ EHU GDV .RSI=HQWUXP IU GLH K|FKVWH ,QWXLWLRQ |IIQHW 'XUFK GDV %UHQQHQ ZHUGHQ VLH ]X &LWULQHQ XQG NRPPHQ PLW LKUHQ 6FKZLQJXQJHQ LQ GHQ JHOEHQ )DUEVWUDKO $XFK LKUH /LFKWZHVHQ HUOHEHQ GLHVH )HXHU7UDQVIRUPDWLRQ XQG NRPPHQ LQ GHQ JUR‰HQ JHOEHQ )DUEVWUDKO ZR VLH GLH LKQHQ LPPDQHQWH :HLVKHLW GHV 6RQQHQOLFKWV LQ GLH (UGH DXVVWUDKOHQ 'LH 9HUELQGXQJ GLHVHU EHLGHQ .UlIWH GHU LQWXLWLYHQ XQG OHEEDUHQ :HLVKHLW NRPPW ZHQQ DXFK VHKU VHOWHQ LQ GHU 1DWXU LP $PHWULQ YRU 'HU $PHWULQ LVW HLQ 6WHLQ GHU ]XP 7HLO $PHWK\VW ]XP 7HLO &LWULQ LVW XQG EHLGH .UlIWH LQ VLFK YHUHLQW KDW (U EHVLW]W XQG DNWLYLHUW EHLGHV GLH 9HUELQGXQJ PLW GHU KRKHQ ,QWXLWLRQ XQG GLH ZLHGHU LQV %HZX‰WVHLQ NRPPHQGH :HLVKHLW GHU 6HHOH 1DWUOLFKH &LWULQH XQG $PHWULQH VLQG VHKU VHOWHQ 'HVKDOE EHVFKUHLEH LFK KLHU GLH HQHUJHWLVFKHQ :LUNXQJHQ GHU &LWULQH GLH DXV $PHWK\VW JHEUDQQW ZXUGHQ ,KUH %HVRQGHUKHLW LVW GLH .UDIW GHU 7UDQVIRUPDWLRQ YRQ KRKHQ LQ WLHIH 6FKZLQJXQJHQ ,Q LKQHQ VFKZLQJW QRFK GDV 9LROHWW GHU KRKHQ ,QWXLWLRQ GLH +LQZHQGXQJ XQG gIIQXQJ ]XP *|WWOLFKHQ GRFK VLQG VLH GXUFK GDV *HOE LQ HLQH SUDNWLNDEOH 8PVHW]XQJVHQHUJLH JHNRPPHQ 'LH LQWXLWLYH :DKUQHKPXQJ LP 9LROHWW LVW XPIDVVHQG DXJHQEOLFNOLFK XQG QLFKW GDXHUKDIW ID‰EDU 'LH ,QWHJUDWLRQ XQG 8PVHW]XQJ GLHVHU :DKUQHKPXQJHQ LQ GDV DOOWlJOLFKH /HEHQ EUDXFKW GDV *HOE GLH 6RQQHQNUDIW GLH OHXFKWHQGHV /LFKW DXVVWUDKOW GDV DXI (UGHQ JHEUDXFKW ZLUG XP XQVHU /LFKWEHZX‰WEHLQ ]XP $XVGUXFN ]X EULQJHQ

'LH &LWULQ5HLNL6HOEVW %HKDQGOXQJ EHJOHLWHW MHGHQ DXI VHLQHP :HJ PLW /LFKW 6LH XQWHUVWW]W LQ XQV GLH )lKLJNHLW LQWXLWLYH :DKUQHKPXQJHQ GHV *|WWOLFKHQ LQ OHEEDUH XQG OHKUEDUH :HLVKHLW XP]XVHW]HQ XQG PLW +LOIH GHU $XVVWUDKOXQJ XQG :LUNVDPNHLW XQVHUHV 6HOEVWEHZX‰WVHLQV VLFKWEDU XQG VSUEDU ZHUGHQ ]X ODVVHQ

'HU &LWULQ LQ GHQ HLQ]HOQHQ (QHUJLH]HQWUHQ

,P  (QHUJLH]HQWUXP GXUFKVWU|PW PLW GHP &LWULQ OHXFKWHQGHV OLFKWHV *HOE DOO XQVHUH H[LVWHQWLHOOHQ bQJVWH :QVFKH XQG %HGUIQLVVH 'DV :HVHQ GHV &LWULQV VWlUNW XQVHU 6HOEVWEHZX‰WVHLQ GDV JHWUDJHQ LVW YRQ K|FKVWHU ,QWXLWLRQ XQG J|WWOLFKHU :HLVKHLW :LU ZHUGHQ HUPXWLJW LQWXLWLY HUNDQQWH :DKUKHLWHQ LQ GLH %HZlOWLJXQJ XQVHUHV $OOWDJV LQ XQVHUH =LHOVHW]XQJHQ HLQ]XEH]LHKHQ ,P (QHUJLHIOX‰ GHU J|WWOLFKHQ :HLVKHLW VFKZLQGHW XQVHUH hEHU /HEHQVDQJVW XQG XQVHUH H[LVWHQWLHOOHQ %HGUIQLVVH ZDQGHOQ VLFK GHU :XQVFK GDV *|WWOLFKH LP ,UGLVFKHQ ]X OHEHQ ZLUG LPPHU VWlUNHU XQG YHUZLUNOLFKW VLFK

,P  (QHUJLH]HQWUXP IOLH‰W GDV OHXFKWHQGH *HOE GHV &LWULQV LQ GLH $XVHLQDQGHUVHW]XQJ PLW GHP 'X  LQ GLH 3DUWQHUVFKDIWV XQG %H]LHKXQJVHEHQH *|WWOLFKH :HLVKHLW GXUFKIOXWHW XQVHUH %HJHJQXQJHQ GDV ZDV ZLU DEOHKQHQ XQG GDV ZRQDFK ZLU XQV VHKQHQ :LU ZLVVHQ LQWXLWLY ZLH ZLU XQV DQGHUHQ JHJHQEHU YHUKDOWHQ VROOWHQ XQG ZLU HUKDOWHQ GLH .UDIW XQG GHQ 0XW GLHVH (LQJHEXQJHQ DXFK XP]XVHW]HQ

,P  (QHUJLH]HQWUXP NRPPHQ GLH /LFKWZHVHQ GHV &LWULQV LQ GHQ +DXSWHQHUJLHVWURP GLHVHV =HQWUXPV GHU JHOE LVW 6LH YHUVWlUNHQ KLHU VHKU GLH 6RQQHQNUDIW GHU J|WWOLFKHQ 6HOEVW9HUZLUNOLFKXQJ ,QWXLWLY HUNDQQWH :HLVKHLW ZLUG ]X HUIDKUEDUHP :LVVHQ XQG EULQJW XQVHU 6HOEVWEHZX‰WVHLQ LQ (LQNODQJ PLW GHP J|WWOLFKHQ :LOOHQ 6WDUN LVW GLH $XVZLUNXQJ GHV &LWULQV LQ GLHVHP (QHUJLH]HQWUXP DXFK DXI GHU N|USHUOLFKHQ (EHQH XQG GHQ GDPLW YHUEXQGHQHQ 9RUJlQJHQ LQ XQVHUHQ (QHUJLHN|USHUQ 'LH 9HUGDXXQJVDUEHLW GHV 0DJHQV ZLUG EHVRQGHUV XQWHUVWW]W YRQ GHU /LFKWNUDIW GHV &LWULQV GLH GXUFK 7UDQVIRUPDWLRQ YRP 9LROHWW ]XP *HOE ZXUGH GHQQ LP 0DJHQ ILQGHW HLQH IU XQV HQWVFKHLGHQGH 8PZDQGOXQJ GHU DXIJHQRPPHQHQ 1DKUXQJ VWDWW 'DEHL ZLUG QLFKW QXU YHUDUEHLWHW ZDV ZLU JHJHVVHQ XQG JHWUXQNHQ KDEHQ VRQGHUQ DXFK ZLH ZLU GDV JHWDQ KDEHQ 'HQQ HV EHVWHKW HLQ =XVDPPHQKDQJ ]X GHU $UW XQG :HLVH ZLH ZLU XQVHUH 6HHOH XQG XQVHUHQ *HLVW QlKUHQ 'LH /LFKWZHVHQ GHV &LWULQV ODVVHQ XQV VWlUNHU XQG EHZX‰WHU PLW GHU 6RQQHQNUDIW PLW GHP /LFKW LQ GLHVHU 1DKUXQJ YHUEXQGHQ VHLQ XQG KHOIHQ XQV HV LQ /LHEH XQG 'DQNEDUNHLW PLW GHP (VVHQ DXI]XQHKPHQ

6R ZLUG GLH LUGLVFKH 1DKUXQJ ]X HLQHU J|WWOLFKHQ 6SHLVH PLW GHU XQVHU .|USHU XQVHUH 6HHOH XQG XQVHU *HLVW LQ OLHEHQGHP %HZX‰WVHLQ JHQlKUW ZLUG

=XGHP KDEHQ GLH /LFKWZHVHQ GHV &LWULQV HLQHQ HQWODVWHQGHQ (LQIOX‰ DXI GLH /HEHU EHVRQGHUV DXI GHUHQ (QWJLIWXQJVDUEHLW 8QVHU (LJHQZLOOH YHUVFKPLO]W PLW GHU :HLVKHLW GHV J|WWOLFKHQ :LOOHQV XQG HU]HXJW NHLQH ZHLWHUHQ YHUJLIWHQGHQ *HGDQNHQ (PRWLRQHQ XQG =LHOVHW]XQJHQ

$XFK GLH %DXFKVSHLFKHOGUVH XQG GLH 0LO] ZHUGHQ YRP JHOEHQ /LFKW GHV &LWULQV EHHLQIOX‰W 8QVHU =lUWOLFKNHLWVEHGUIQLV GDV PLW GHU ,QVXOLQDXVVFKWWXQJ GHU %DXFKVSHLFKHOGUVH YHUEXQGHQ LVW ZLUG VWlUNHU XQG P|FKWH DXVJHOHEW ZHUGHQ 'LH %LOGXQJ GHU $EZHKUNUlIWH LQ GHU 0LO] JHVFKLHKW LP (LQNODQJ PLW GHU J|WWOLFKHQ :HLVKHLW XQG EHIUHLW XQV YRQ GHP %HGUIQLV DXV 3ULQ]LS JHJHQ HWZDV RGHU MHPDQGHQ ]X VHLQ XQV DQPD‰HQG XQG VHOEVWKHUUOLFK YHUWHLGLJHQ ]X PVVHQ

0LW GHP KHOO OHXFKWHQGHQ *HOE GHV &LWULQV ZHUGHQ ZLU PLW XQVHUHQ 6FKDWWHQVHLWHQ NRQIURQWLHUW XQG JOHLFK]HLWLJ HUPXWLJW VLH PLW :HLVKHLW ]X J|WWOLFKHQ *DEHQ ZHUGHQ ]X ODVVHQ

,P  (QHUJLH]HQWUXP DNWLYLHUW GDV OLFKWH *HOE GHV &LWULQV GLH :HLVKHLW GHV +HU]HQV 'LHV EHIUHLW XQV YRQ EHUWULHEHQHU IDOVFK YHUVWDQGHQHU %HVFKHLGHQKHLW XQG 6HOEVW 0LWOHLG XQG O|VW XQV DXV GHP .UHLVODXI GHV /HLGHQV :LU HUNHQQHQ GHQ 6LQQ GHV /HLGHQV XQG DXFK GD‰ ZLU QXU VR ODQJH OHLGHQ ZLH ZLU QLFKW HLQVHKHQ  GD‰ ZLU VHOEVW GLH 8UVDFKH GLHVHV /HLGHQV VLQG 'HQQ ZLU KDEHQ VWHWV GLH )UHLKHLW XQV IU GLH $QJVW RGHU IU GLH /LHEH ]X HQWVFKHLGHQ

,P  (QHUJLH]HQWUXP EHOHEW GHU &LWULQ XQVHUHQ VSUDFKOLFKHQ $XVGUXFN PLW GHU LQV %HZX‰WVHLQ NRPPHQGHQ J|WWOLFKHQ :HLVKHLW  :LU ZHUGHQ PXWLJHU XQG IlKLJHU XQVHUH /LFKWHUIDKUXQJHQ EHU :RUWH PLW]XWHLOHQ XQG EHU GDV ]X VSUHFKHQ ZDV ZLU HUNDQQW KDEHQ 'DV XQHUVFK|SIOLFKH :LVVHQ GHV J|WWOLFKHQ 6HLQV NRPPW EHU XQVHUH .RPPXQLNDWLRQ VWlUNHU XQG YHUVWlQGOLFKHU ]X GHQ 0HQVFKHQ

,P  (QHUJLH]HQWUXP EHUKUW GHU &LWULQ PLW GHP OHXFKWHQGHQ *HOE XQVHU *|WWOLFKHV $XJH XQG LQWHQVLYLHUW XQVHUH 9HUELQGXQJ PLW GHP $OO:LVVHQ *HIKOH GHU $OOPDFKW GHV J|WWOLFKHQ :LOOHQV XQG GHU 2KQ0DFKW GHV HJR]HQWULVFKHQ :LOOHQV NRPPHQ DQV /LFKW  GK VLH ZHUGHQ XQV EHZX‰W :LU GUIHQ OHUQHQ 0DFKW DOV HLQH .UDIW GHU :LOOHQV 6WlUNH ]X HUIDKUHQ XQG LP J|WWOLFKHQ 6LQQH DQ]XZHQGHQ 'DGXUFK ZHUGHQ ZLU NUHDWLYVFK|SIHULVFK GHU (UUHLFKXQJ GHV +|FKVWHQ ]XJHZDQGW IUHL YRQ ZHUWHQGHQ 8UWHLOHQ XQG ]HUVW|UHULVFKHQ 6HOEVWNRQ]HSWHQ IUHL YRQ GHU +HUUVFKDIW EHU DQGHUH

,P  (QHUJLH]HQWUXP ILQGHW GHU JHEUDQQWH &LWULQ ZLHGHU ]XUFN ]XP 9LROHWW DXV GHP HU HQWVWDQGHQ LVW (UOHXFKWXQJVHUJHEQLVVH /LFKWHUIDKUXQJHQ *HGDQNHQEOLW]H HUKHOOHQ XQVHU %HZX‰WVHLQ XQG EHVWlUNHQ XQV GDULQ XQV GHU :HLVKHLW GHV XQLYHUVHOOHQ *HLVWHV ]X |IIQHQ

*DQ] EHVRQGHUV VWDUN LVW GLH $NWLYLHUXQJ XQVHUHU (QHUJLH ZHQQ ZLU DXI

MHGHV (QHUJLH]HQWUXP HLQH XQJHVFKOLIIHQH &LWULQVSLW]H OHJHQ GLH 6SLW]H ]XP .RSI KLQ DXVJHULFKWHW (LQH VWDUNH JHOE OHXFKWHQGH )ODPPH GXUFKVWUDKOW MHGHV (QHUJLH]HQWUXP XQG YHUHLQLJW VLFK LQ XQVHUHQ (QHUJLHN|USHUQ XQG LQ XQVHUHP /HEHQVVWURP ]X HLQHU JUR‰HQ PlFKWLJHQ JHOEHQ )ODPPH GLH LQ XQV VWDUN OHXFKWHQGH 6RQQHQNUDIW XQG VWUDKOHQGHV 6HOEVWEHZX‰WVHLQ YROOHU %HJHLVWHUXQJ HQW]QGHW XQG DOOHV 'XQNOH $QJVW PDFKHQGH KLQZHJEUHQQW

'LHVH 5HLNL%HKDQGOXQJ PLW XQJHVFKOLIIHQHQ &LWULQ6SLW]HQ EULQJW HLQH JUR‰H %HUHLQLJXQJ XQG %HIUHLXQJ YRQ lQJVWOLFKHQ 0XVWHUQ XQG GLH )UHLVHW]XQJ XQVHUHU 6RQQHQNUDIW XQVHUHU OLFKWYROOHQ $XVVWUDKOXQJ PLW VLFK XQG LVW JHUDGH GDQQ ZLFKWLJ ZHQQ ZLU LPPHU ZLHGHU YRQ 6HOEVW]ZHLIHOQ 0XWORVLJNHLW 'HSUHVVLRQHQ JHTXlOW VLQG ZLGHU EHVVHUHV :LVVHQ KDQGHOQ XQV XQG DQGHUH XQWHUGUFNHQ XQG GDPLW .UDIW ELQGHQ XQG PL‰EUDXFKHQ

%HL %HVFKZHUGHQ GHV 0DJHQV GHU /HEHU XQG *DOOH GHU %DXFKVSHLFKHOGUVH XQG ,QVXOLQDXVVFKWWXQJ XQGRGHU GHU 0LO] XQG ]XU 6WHLJHUXQJ GHU $EZHKUNUDIW LVW GHU &LWULQ DOV RYDO JHVFKOLIIHQHU &DERFKRQ DXI MHGHP (QHUJLH]HQWUXP VHKU KLOIUHLFK &LWULQ&DERFKRQH LQ UXQGHU )RUP DXI MHGHP (QHUJLH]HQWUXP XQWHUVWW]HQ XQV EHVRQGHUV EHL PDQJHOQGHP 6HOEVWYHUWUDXHQ

/HJHQ ZLU IDFHWWLHUW JHVFKOLIIHQH &LWULQH DXI GLH (QHUJLH]HQWUHQ HUZHFNW MHGH )DFHWWH PLW LKUHQ /LFKWZHVHQ HLQHQ OHXFKWHQGHQ 6RQQHQVWUDKO LQ XQVHUHP :HVHQ XQG VWUDKOW )UHXGH OHEHQVVSHQGHQGH :lUPH XQG EHJHLVWHUQGH :HLVKHLW DXV $OOH XQVHUH 6FKDWWHQVHLWHQ ZHUGHQ GHP /LFKW ]XJHZDQGW ZLU OHUQHQ EHU XQVHUHQ 6FKDWWHQ ]X VSULQJHQ XQG XQVHU /HEHQ PLW J|WWOLFKHU :HLVKHLW ]X PHLVWHUQ 'LHV HUIRUGHUW 0XW XQG %HUHLWVFKDIW GLH $QJVW YRU XQVHUHU JUR‰HQ .UDIW XQG 0DFKW HKUOLFK ]X]XODVVHQ XP VLH GDQQ ORV]XODVVHQ XQG IUHL ]X VHLQ GDV *UR‰DUWLJH ]X WXQ

'LH RYDOH )RUP IRUGHUW XQV GDEHL DXI GHU N|USHUOLFKHQ (EHQH KHUDXV XQG EULQJW /LFKW ]X GHQ GXQNOHQ GK NUDQNHQ .|USHUVWHOOHQ :LU HUNHQQHQ GHQ 6LQQ GLHVHU (UNUDQNXQJ IU XQV 'LH 7URSIHQIRUP Ol‰W GDV 6RQQHQOLFKW LQ GLH 6HHOH IOLH‰HQ XQG VRUJW IU HLQ VRQQLJHV *HPW 'LH UXQGH )RUP HUKHOOW

XQVHUHQ *HLVW VFKHQNW OLFKWH *HGDQNHQ XQG 6HOEVWHUNHQQWQLV 'LH UHFKWHFNLJH )RUP PDQLIHVWLHUW GLH LQ XQV HUZDFKWH 6RQQHQNUDIW LP ,UGLVFKHQ :HOWOLFKHQ 3UREOHPH GHV $OOWDJV O|VHQ ZLU LQGHP ZLU JHLVWLJH (UNHQQWQLVVH LQ VWUDKOHQGHP 6HOEVWEHZX‰WVHLQ XPVHW]HQ

6,(%(1 587,/48$5=(

+DUPRQLH *ROGHQHV /LFKW 6HJHQ

'LH 5HLNL6HOEVW %HKDQGOXQJ PLW HLQHP 5XWLOTXDU] DXI MHGHP (QHUJLH]HQWUXP EULQJW VHKU YLHO JROGHQ OHXFKWHQGHV UHLQHV /LFKW LQ XQVHUH (QHUJLHV\VWHPH XQG VWHLJW LQ JROGHQ IOXWHQGHQ /LFKWZHOOHQ DXI LQ GHQ J|WWOLFKHQ 6HJHQVVWURP XQG ]X VHLQHQ /LFKWWUlJHUQ GLH XQV HLQH JDQ] EHVRQGHUH OLHEHQGH (QHUJLH YRQ XQVHUHP 6FK|SIHU EULQJHQ 6R ZLH LQ LKUHP 6WHLQ LP UHLQHQ /LFKW GHV .ULVWDOOV JROGHQH 1DGHOQ PDQLIHVWLHUW VLQG NRPPHQ VLH DOV *|WWHUERWHQ PLW JROGHQHQ /LFKWSIHLOHQ ]X XQV

'LH LQ GHQ 5XWLO1DGHOQ PDQLIHVWLHUWHQ *ROGVFKZLQJXQJHQ VLQG SIHLOVFKQHOO XQG ]LHOJHULFKWHW XQG XPJHEHQ YRP UHLQHQ /LFKW GHV .ULVWDOOV 'LHVH HLQ]LJDUWLJH .RPELQDWLRQ HQWIDOWHW LQ XQV YROONRPPHQH J|WWOLFKH +DUPRQLH XQG 6FK|QKHLW DXIIDOOHQ (EHQHQ 'DV J|WWOLFKH /LFKW LQ VHLQHU UHLQHQ 6FK|QKHLW XQG VHJHQVSHQGHQGHQ .UDIW HUK|KW XQVHUH /LFKWVFKZLQJXQJHQ XQG PDFKW XQV ]XP /LFKWYHUEQGHWHQ DXI (UGHQ GHU EHU /LFKWSIHLOH +DUPRQLH XQG 6HJHQ DXVVHQGHW

,P .|USHUJHVFKHKHQ O|VW GLH VWDUNH +DUPRQLH XQG VHJHQVUHLFKOLHEHQGH 9HUELQGXQJ PLW XQVHUHP 6FK|SIHU 6FKPHU]OLQGHUXQJ XQG +HLOXQJ DXV LQ GHQ 6HHOHQVFKZLQJXQJHQ O|VHQ VLFK H[WUHPH *HIKOVVFKZDQNXQJHQ XQG LQQHUH =HUULVVHQKHLW DXI GHU *HLVWHEHQH ZHUGHQ GLH (QHUJLHQ GHU *HGDQNHQ XQG 'HQNVWUXNWXUHQ YRQ GHQ OHXFKWHQGHQ /LFKWSIHLOHQ LQ HLQH J|WWOLFKH 5LFKWXQJ JHOHQNW

'HU 5XWLOTXDU] LQ GHQ HLQ]HOQHQ (QHUJLH]HQWUHQ

,P  (QHUJLH]HQWUXP YHUELQGHW VLFK GDV UHLQH JROGHQOHXFKWHQGH /LFKW GHV 5XWLOTXDU]HV EHU VHLQH /LFKWWUlJHU PLW GHP *UXQGEHGUIQLV XQVHUHU 6HHOH XQVHU (UGHQOHEHQ ]X (KUHQ GHV 6FK|SIHUV XQG ]XP 6HJHQ VHLQHU 6FK|SIXQJ GHUHQ 7HLO ZLU VLQG ]X OHEHQ 'LH %H $FKWXQJ GHU J|WWOLFKHQ 6FK|QKHLW )UHXGH XQG 6WUDKONUDIW LQ MHGHU %HJHJQXQJ OHEHQGLJOLHEHQGH 9HUEXQGHQKHLW PLW DOOHP *HVFKDIIHQHQ PDFKW XQVHU (UGHQOHEHQ UHLFK DQ )UHXGH +DUPRQLH XQG 6HJHQ XQG IUHL YRQ H[LVWHQWLHOOHQ 6RUJHQ XQG 1|WHQ -HGH %HJHJQXQJ MHGH +DQGOXQJ ZLUG ]X HLQHU (UIDKUXQJ XQG ]X HLQHP $XVWDXVFK J|WWOLFKHU /LHEH LQ LKUHU YROOHQGHWHQ 6FK|QKHLW

,P  (QHUJLH]HQWUXP IOLH‰W EHU GHQ 5XWLOTXDU] XQG VHLQHQ /LFKWWUlJHUQ GDV JROGHQ OHXFKWHQGH /LFKW LQ XQVHUH ]HUULVVHQHQ *HIKOH LQ XQVHU *HVSDOWHQVHLQ LP =XVDPPHQOHEHQ PLW DQGHUHQ ,Q GLHVHP (QHUJLHIOX‰ OHUQHQ ZLU GHQ DQGHUHQ LQ VHLQHU %HVRQGHUKHLW ]X DFKWHQ XQG HLQH QHXH 4XDOLWlW LQ SDUWQHUVFKDIWOLFKHQ %H]LHKXQJHQ KHU]XVWHOOHQ XQWHUVWW]HQG SKDQWDVLHYROO ZRKOWXHQG HQWVSDQQHQG XQG DQ]LHKHQG EHLHLQDQGHU]XVHLQ XQG GLH HLQPDOLJH 6FK|QKHLW MHGHV (LQ]HOQHQ KHUYRU]XKHEHQ

,P  (QHUJLH]HQWUXP GXUFKVWU|PW GHU 5XWLOTXDU] GHQ +DXSWHQHUJLHVWURP GLHVHV =HQWUXPV GHU LP *HOE VFKZLQJW 6HLQ OHXFKWHQG JROGGXUFKIOXWHWHV /LFKW HUK|KW GLH 6FKZLQJXQJ XQG $XVVWUDKOXQJ XQVHUHU LQQHUHQ 6RQQH VR GD‰ XQVHU 6HOEVWEHZX‰WVHLQ VLFK VHKU VWDUN LQ LQQHUHU )UHXGH 6FK|QKHLW +DUPRQLH XQG *UR‰]JLJNHLW ]XP $XVGUXFN EULQJW

'LH JROGHQHQ /LFKWSIHLOH GHV 5XWLOTXDU]HV KHOIHQ XQV KLHU JDQ] EHVRQGHUV J|WWOLFKH 4XDOLWlWHQ LP 8PJDQJ PLW XQVHUHQ LQQHUHQ 9HUKDOWHQV XQG 5HDNWLRQVZHLVHQ ]X HQWIDOWHQ 9HUDQWZRUWXQJ IU LKUH $XVZLUNXQJHQ ]X EHUQHKPHQ XQG 0HLVWHUVFKDIW PLW XQV VHOEVW ]X HQWZLFNHOQ :LU EHIUHLHQ XQV DXV 8QEHZX‰WKHLW VRZLH DXV (PRWLRQHQ XQG 9HUKDOWHQVZHLVHQ GLH XQV DEKlQJLJ PDFKHQ YRQ 7ULHEHQ XQG 6FKWHQ :DKUH 6HOEVW %HKHUUVFKXQJ JHVFKLHKW DXV /LHEH ]XP /HEHQ ]XU /HEHQGLJNHLW

,P  (QHUJLH]HQWUXP O|VHQ VLFK PLW GHP 5XWLOTXDU] YLHOH GDV +HU] EHODVWHQGH (UIDKUXQJHQ YRQ VHOEVW GD VHLQH JROGHQHQ /LFKWSIHLOH XQVHUH YHUOHW]WHQ *HIKOH WUHIIHQ XQG LKQHQ GLH %RWVFKDIW GHU DOOHV YHUVWHKHQGHQ J|WWOLFKHQ /LHEH EULQJHQ 'HU 6FKPHU] XQVHUHV +HU]HQV GHU GHQ WLHIHQ 6FKPHU] GHU 6HHOH QLFKW JHQXJ JHOLHEW ]X ZHUGHQ LQ VLFK WUlJW PX‰ VLFK QLFKW OlQJHU JHJHQ GLH VWDUNH .UDIW GHU /LHEH ZHKUHQ :LU N|QQHQ XQV PHKU LQ XQVHUHU +HU]HQVHQHUJLH |IIQHQ XQG /LHEH ]XODVVHQ 'LH $QJVW LQ GLHVHU 2IIHQKHLW ZLHGHU YHUOHW]W ]X ZHUGHQ WUDJHQ GLH JROGHQHQ /LFKWSIHLOH KLQZHJ

0LW GHP UHLQHQ JROGGXUFKIOXWHWHQ /LFKW |IIQHQ VLFK ZHQQ HV VHLQ GDUI GLH 7RUH ]XP ,QQHUVWHQ XQVHUHV /LFKWWHPSHOV ZR XQV +HLOLJH +HLOXQJ 6HJQXQJ :HLKH XQG (LQZHLKXQJ LQ GDV +HLOLJH 0\VWHULXP GHV *|WWOLFKHQ 6HLQV HUZDUWHW :LU GUIHQ ]XUFNNHKUHQ ]X XQVHUHP J|WWOLFKHQ 8UVSUXQJ ]XU *UR‰HQ 0XWWHU ]XP +LPPOLVFKHQ 9DWHU :LU GUIHQ XQVHUH J|WWOLFKH :LHGHUJHEXUW HUOHEHQ XQG XQVHUH J|WWOLFKHQ *DEHQ IU GLHVHV /HEHQ EHZX‰W HPSIDQJHQ 'LH $OOPDFKW GHU /LHEH HQWIDOWHW VLFK LQ XQVHUHU PHQVFKOLFKHQ XQG J|WWOLFKHQ 3HUV|QOLFKNHLW XQG ZLUG ]X HLQHP 6HJHQ IU GLH 0HQVFKHQ XQG GLH (UGH PLW DOO LKUHQ *HVFK|SIHQ

LP  (QHUJLH]HQWUXP VWUDKOHQ GLH /LFKWZHVHQ GHV 5XWLOTXDU] +DUPRQLH XQG 6FK|QKHLW LQ XQVHUHQ VSUDFKOLFKHQ $XVGUXFN 'LH :RUWH GLH ZLU VSUHFKHQ RGHU VFKUHLEHQ VLQG GXUFKGUXQJHQ YRQ J|WWOLFKHP *HLVW XQG EHIOJHOQ XQV XQG DQGHUH 'LH JROGHQHQ /LFKWSIHLOH EULQJHQ DEHU DXFK ]X GHQ %URQFKLHQ /XQJHQ $WHPZHJHQ XQG JDQ] EHVRQGHUV ]XU 6FKLOGGUVH KDUPRQLVLHUHQGH +HLOXQJVHQHUJLH %HL )XQNWLRQVVW|UXQJHQ GHU 6FKLOGGUVH ZLUNW GLHV DXVJOHLFKHQG ZLU NRPPHQ DXV H[WUHPHQ *HIKOVVFKZDQNXQJHQ KHUDXV XQG ILQGHQ ]X HLQHU ZRKOWXHQGHQ /HEHQGLJNHLW 'LHV VWlUNW XQVHU :RKOEHILQGHQ XQG

VFKHQNW XQV HLQ KDUPRQLVFKHV /HEHQVJHIKO

,P  (QHUJLH]HQWUXP DNWLYLHUHQ GLH :HVHQ GHV 5XWLOTXDU] PLW LKUHQ /LFKWSIHLOHQ GDV JROGHQH /LFKW LQ XQVHUHP *|WWOLFKHQ $XJH  JHEHQ GDPLW XQVHUHP :LOOHQ HLQH HUK|KWH $XVULFKWXQJ XQG =LHOJHULFKWHWKHLW ]XU (UIOOXQJ GHV J|WWOLFKHQ :LOOHQV 8QVHUH 9RUVWHOOXQJHQ XQG *HGDQNHQ ,GHHQ XQG ,GHDOH ZHQGHQ VLFK GHP +|FKVWHQ ]X *|WWOLFKH 6FK|QKHLW RIIHQEDUW VLFK LQ DOOHP ZLU HUNHQQHQ GLH +DUPRQLH GHU 6FK|SIXQJ

,P  (QHUJLH]HQWUXP IKUHQ XQV GLH JROGHQ OHXFKWHQGHQ /LFKWSIHLOH GHV 5XWLOTXDU] LQ K|FKVWH P\VWLVFKH (UIDKUXQJHQ GHV J|WWOLFKHQ /LFKWHV 8QVHUH :LGHUVWlQGH 9RUEHKDOWH bQJVWH XQG %ORFNDGHQ VFKPHO]HQ LP JROGHQ OHXFKWHQGHQ /LFKWVWURP GDKLQ :LU NRPPHQ PLW GHP HZLJ OLHEHQGHQ J|WWOLFKHQ %HZX‰WVHLQ DXI HLQHU XQYRUVWHOOEDU KRKHQ (EHQH LQ .RQWDNW

%HL N|USHUOLFKHQ 6FKPHU]HQ XQG (UNUDQNXQJHQ LVW HLQ 5XWLOTXDU] LQ GHU )RUP HLQHV RYDOHQ &DERFKRQV DXI MHGHP (QHUJLH]HQWUXP EHVRQGHUV KLOIUHLFK GD GDQQ VHLQH JROGHQ OHXFKWHQGHQ /LFKWSIHLOH GLH LQ 'LVKDUPRQLH VFKZLQJHQGHQ .|USHU]HOOHQ VFKQHOOVWHQV PLW +DUPRQLH DXV GHU /LHEH XQVHUHV 6FK|SIHUV IU XQV GXUFKIOXWHQ

:HQQ 0HQVFKHQ ]X LQQHUHU =HUULVVHQKHLW LQ LKUHU *HIKOV XQG *HGDQNHQZHOW QHLJHQ QLFKW ZLVVHQ ZDV VLH ZROOHQ LKUH .UlIWH LP +LQ XQG +HUEHUOHJHQ YHUEUDXFKHQ VROOWHQ ZLU DXI MHGHV (QHUJLH]HQWUXP HLQHQ 5XWLOTXDU] LQ 7URSIHQIRUP OHJHQ 'LH )RUP GHV 7URSIHQV YHUHLQW GLH *HJHQVlW]H XQG EULQJW VLH LQ YROOHQGHWHU 6FK|QKHLW ]XP $XVGUXFN GDV $EJHUXQGHWH (PSIDQJHQGH XQG GLH ]LHOJHULFKWHWH 6SLW]H

(LQ UXQGHU 5XWLOTXDU]&DERFKRQ DXI MHGHP (QHUJLH]HQWUXP EULQJW +DUPRQLH LQ GLH *HGDQNHQZHOW :HQQ ZLU XQV ]X YLHOH *HGDQNHQ PDFKHQ NHLQH 5XKH ILQGHQ YRU VWHWV NUHLVHQGHQ *HGDQNHQ VWHWV DQ GDV 6FKOLPPVWH GHQNHQ IKUHQ GLH /LFKWWUlJHU GHV 5XWLOTXDU] EHU GLHVH DEJHUXQGHWH )RUP VWDUNH /LFKWJHGDQNHQ EHU LKUH JROGHQ OHXFKWHQGHQ /LFKWSIHLOH ]X XQV

,Q JDQ] DQGHUH 'LPHQVLRQHQ IOLH‰W GLH 5XWLOTXDU](QHUJLH ZHQQ ZLU DXI MHGHV (QHUJLH]HQWUXP HLQH 5XWLOTXDU]3\UDPLGH OHJHQ +LHUEHL ZLUG GLH (QWVFKOVVHOXQJ GHV +HLOLJHQ 0\VWHULXPV DNWLYLHUW ZLU GUIHQ HLQWDXFKHQ LQ GDV JROGHQ OHXFKWHQGH /LFKW

/HJHQ ZLU HLQ 5XWLOTXDU](L DXI MHGHV (QHUJLH]HQWUXP GDUI 1HXHV JHVFKHKHQ K|FKVWH 6FK|SIHUNUDIW XQWHUVWW]W XQG DNWLYLHUW XQV EHU MHGHQ /LFKWSIHLO

0LW HLQHU 5XWLOTXDU].XJHO DXI MHGHP (QHUJLH]HQWUXP NRPPHQ ZLU LQ

6FKZLQJXQJHQ GHU +HLOLJHQ +HLOXQJ 8QVHUH WLHIVWHQ 9HUOHW]XQJHQ ZHUGHQ PLW K|FKVWHU J|WWOLFKHU /LHEH EHUKUW VR GD‰ ZLU XQVHUH (LJHQZLOOLJNHLW XQG 6HOEVWEHPLWOHLGXQJ DXIJHEHQ XQG XQV |IIQHQ N|QQHQ IU GHQ 6HJHQ GHU +HLOXQJ :LU HUNHQQHQ ]XWLHIVW GD‰ ZLU GHQ 6FKPHU] GHU 9HUOHW]XQJ QLFKW PHKU EUDXFKHQ XP PLW XQVHUHP 6FK|SIHU LQ .RQWDNW ]X EOHLEHQ :LU ILQGHQ HLQH XQHQGOLFK EHJOFNHQGH 9HUELQGXQJ LP /LFKW

6,(%(1 &+5