Das Schiff im Dunkeln

'DVQHXH$EHQWHXHU +DVVR*UDEQHU'DV6FKLIILP'XQNHOQ 9HUODJ1HXHV/HEHQ%HUOLQ 9E\'XPPH3XWH /L]HQ...

Author: Grabner Hasso

41 downloads 814 Views 596KB Size Report

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

Report copyright / DMCA form

DOWNLOAD PDF

'DVQHXH$EHQWHXHU

+DVVR*UDEQHU'DV6FKLIILP'XQNHOQ 9HUODJ1HXHV/HEHQ%HUOLQ 9E\'XPPH3XWH

/L]HQ]1U (6$ 8PVFKODJXQG,OOXVWUDWLRQHQ(UKDUG6FKUHLHU 7\SRJUDILH:DOWHU/HLSROG 6FKULIWS([FHOVLRU *HVDPWKHUVWHOOXQJ 'UXFNHUHL1HXHV'HXWVFKODQG%HUOLQ

0LWHLQHP5XFNGUHKWHGHU3URIHVVRUGDV5XQGIXQNJHUlW DE 5DGLR 3DULV ORJ $QGHUV NRQQWH PDQ GLH 1DFKULFKWHQ EHU GLH OHW]WHQ VFKUHFNOLFKHQ 7DJH QLFKW QHQQHQ -HGHU )UDQ]RVH ZXWH GLH GHXWVFKHQ )DVFKLVWHQ KDWWHQ DP 0DL PLW HLQHU 8QPDVVH YRQ 3DQ]HUQ %RPEHQIOXJ]HXJHQ XQGPRWRULVLHUWHQ9HUElQGHQGLH2IIHQVLYHEHJRQQHQGLH EHOJLVFKQLHGHUOlQGLVFKHQ *UHQ]EHIHVWLJXQJHQ GXUFKEUR FKHQ XQG QDFK YLHU 7DJHQ GLH QLHGHUOlQGLVFKH $UPHH ]XU .DSLWXODWLRQ JH]ZXQJHQ 'DYRQ VSUDFKHQ GLH 0HQVFKHQ VHLW IQI 7DJHQ EHUDOO QXU LQ GHQ 6HQGXQJHQ YRQ 5DGLR 3DULVZDUYRQHLQLJHQGUIWLJHQ6lW]HQDEJHVHKHQQLFKWV ]X K|UHQ 'HU 3URIHVVRU UL VLFK DP +HPGNUDJHQ 'LH HQWVHW]OLFKH 8QJHZLKHLW HUVWLFNWH LKQ IDVW :DV ZDU PLW )UDQNUHLFK" 'HU 3URIHVVRU VWHOOWH VLFK GLHVH )UDJH DXV ]ZHLHUOHL *UQGHQ (U ZDU )UDQ]RVH XQG ZLH MHGHU JXWH )UDQ]RVHXPGDV6FKLFNVDOVHLQHV9DWHUODQGHVEHVRUJW(U ZDUDEHUDXFK:LVVHQVFKDIWOHU HLQ EHGHXWHQGHU .HUQSK\ VLNHU GHVVHQ 1DPH ZHLW EHU )UDQNUHLFKV *UHQ]HQ HLQHQ JXWHQ.ODQJKDWWH0LWWLHIHU8QUXKHYHUIROJWHHUVHLW-DKU XQG7DJZLHNRUUXSWH3ROLWLNHUXQGXQIlKLJH0LOLWlUVDXV $QJVWYRUGHP9RONPLWGHQGHXWVFKHQ)DVFKLVWHQOLHElX JHOWHQGLH9HUWHLGLJXQJVNUDIWGHV/DQGHVOlKPWHQ9HUZLU UXQJXQG'HIlWLVPXVLQGLH%HY|ONHUXQJWUXJHQ 6HLW GLH 1D]LV LQ 3ROHQ HLQJHIDOOHQ ZDUHQ KDWWH HU GDV 0LQLVWHULXPEHVWUPWVRIRUWGLHPRGHUQH:LVVHQVFKDIWLQ GHQ'LHQVWGHU/DQGHVYHUWHLGLJXQJ]XVWHOOHQ1DFKODQJHQ 0RQDWHQ ZDU HV LKP HQGOLFK JHOXQJHQ 'DXWU\ GHQ 5 VWXQJVPLQLVWHU XQG *URLQGXVWULHOOHQ ]X EHZHJHQ LQ 1RUZHJHQ DOOHV YHUIJEDUH VFKZHUH :DVVHU DXI]XNDXIHQ 'DPLWYHUIJWH )UDQNUHLFKEHU HLQKXQGHUWIQIXQGDFKW]LJ .LOR GLHVHV VHOWHQHQ 6WRIIHV ZDV IDVW DOOH HXURSlLVFKHQ %HVWlQGHDXVPDFKWH

-HW]WKDWWHQGLH+LWOHUWUXSSHQ1RUZHJHQELVDXIZLQ]LJH 5HVWHEHVHW]WXQGGDPLWDXFKGLHÄ1RUVN+\GUR³(XURSDV HLQ]LJH)DEULNDWLRQVVWlWWHIUVFKZHUHV:DVVHU6RZUGHQ GLH 'HXWVFKHQ YRP 9HUNDXI GHU JHVDPWHQ %HVWlQGH DQ )UDQNUHLFKHUIDKUHQ'DUDXVHUJDEVLFKGHV*HOHKUWHQGRS SHOWH 6RUJH XP GHQ 6WDQG GHU 6FKODFKW DQ )UDQNUHLFKV 1RUGJUHQ]H+LHOWGLH )URQWVRPXWHQGLH]Z|OINRVWED UHQ .DQLVWHU LP ,QVWLWXW EOHLEHQ +LHOW GLH )URQW QLFKW VR PXWHQ GLH .DQLVWHU XQYHU]JOLFK DXV 3DULV JHVFKDIIW ZHUGHQDPEHVWHQJOHLFKDXHU/DQGHV 9RU GLHVHP 'LOHPPD VWDQG GHU 3URIHVVRU VHLW VHFKV 7D JHQ:lKUHQGGLHVHU=HLWKDWWHHUEHL'XW]HQGHQ%HK|UGHQ YRUJHVSURFKHQZDUYRQ'LHQVWVWHOOH]X'LHQVWVWHOOHJHODX IHQ KDWWH JHEHWWHOW JHIOHKW JHIRUGHUW JHGURKW ² YHUJH EHQV 1LHPDQG ZXWH HWZDV QLHPDQG ZROOWH RGHU NRQQWH LKP*HQDXHVVDJHQ 'HU 3URIHVVRU VSUDQJ DXI +DQGHOQ KDQGHOQ (V PXWH HWZDJHVFKHKHQHKHGLHOHW]WH6LFKHUKHLWGDKLQVFKPRO] (UYHUOLHGDV+DXV:RKLQ"9HUGDPPWHV.ULHJVPLQLVWH ULXP =HKQPDO ZRKO ZDU HU GRUW JHZHVHQ (U ZUGH HLQ HOIWHV 0DO KLQJHKHQ PVVHQ 'HU &KHIDGMXWDQW GHV .ULHJVPLQLVWHUV HPSILQJ GHQ LKP ZRKOEHNDQQWHQ *HOHKU WHQ PLW HLQHP $FKVHO]XFNHQ .HLQH JHQDXH .HQQWQLV GHU /DJH0RQVLHXU Ä,FKJHKH]XP3UlVLGHQWHQGHU5HSXEOLN³VDJWHGHU3UR IHVVRUGURKHQG 'HU$GMXWDQWQLFNWHÄ*HKHQ6LHPHLQ+HUU6LHN|QQHQ LKPZHLQHQKHOIHQPHKUDEHUQLFKW³ :RUWORV ZDQGWH VLFK GHU 3URIHVVRU DE XQG YHUOLH GDV +DXV $XI GHU $YHQXH 0DULJX\ WUDI HU 2EHUVW /HJUp 2EHUVW/HJUpV6RKQ
KDEHQGXUIWH'DVEHZRJGHQ3URIHVVRU GHP VFKQDX]ElU WLJHQ2EHUVWHQHLQHQ7HLOVHLQHU6RUJHQDQ]XYHUWUDXHQ 'HU$OWHUXQ]HOWHGLH6WLUQVHLQHEXVFKLJHQ$XJHQEUDX HQELOGHWHQHLQHVFKURIIH/LQLHÄ:HQQ6LHGLH)LVFKHQLFKW YHUJLIWHQ VFKWWHQ 6LH GDV =HXJ LQ GLH 6HLQH )UDQNUHLFK EUDXFKW VR HWZDV QLFKW PHKU .RORQLDOY|ONHU KDEHQ NHLQH :LVVHQVFKDIW³ 'HU 3URIHVVRU SDFNWH GHQ 0DQQ DP 5RFN Ä:DV VDJHQ 6LHGD"6LQG6LHNHLQ)UDQ]RVH"³ 'HU2EHUVWULVLFKORVÄ)UDJHQ6LHGLHGDREHQREGDV QRFK )UDQ]RVHQ VLQG (LQH %DQGH YRQ 9HUUlWHUQ LVW GDV 9LHU7DJHYLHUDUPVHOLJH7DJHJHQJWHQ+HUUQYRQ.OHLVW PLWVHLQHU3DQ]HUJUXSSHXQVHUH$UPHHKLQZHJ]XIHJHQ GLH 0DDV LP 5DXP 'LQDQW*LYHW XQG EHL 6HGDQ ]X EHU VFKUHLWHQ)UDQNUHLFKLVWYHUORUHQPHLQ+HUU³ 'HU3URIHVVRUIKOWHDOOHV %OXW DXV VHLQHP *HVLFKW ZHL FKHQÄ'LH1RUGIURQWGXUFKVWRHQ",VWGDVZDKU"³ 'HU$OWHQLFNWHVFKZHU Ä8QG YLHU]LJ .LORPHWHU NRPPHQ VLH WlJOLFK YRUDQ +HXWHVWHKHQVLHZRKOVFKRQEHL6DLQW4XHQWLQ³ +DVWLJYHUDEVFKLHGHWHVLFKGHU3URIHVVRUYRQGHPJHEUR FKHQHQ 0DQQ XQG UDQQWH LQ GDV 0DULQHPLQLVWHULXP 'HU 0DULQHPLQLVWHU ZDU LQ GLHVHU /DJH JHUDGH GHU ULFKWLJH 0DQQ (U HUNOlUWH VLFK QDFK NXU]HP =|JHUQ EHUHLW GDIU ]XVRUJHQGDLQ%RUGHDX[HLQ WFKWLJHV 6FKLII IU HLQHQ 6RQGHUWUDQVSRUW EHUHLWJHVWHOOW ZHUGH (V ZUGH 2UGHU EHNRPPHQVRIRUWLQ 6HH ]X VWHFKHQ XQG %ULVWRO DQ]XODX IHQ'HU3URIHVVRU]RJVLFKGDQNHQG]XUFN$OVHUZLHGHU LP ,QVWLWXW ZDU ILHO LKP HLQ HV VHL VLFKHUOLFK UDWVDP HUVW GLH ZLFKWLJVWHQ *HKHLPDNWHQ ]X VRUWLHUHQ GLH HEHQIDOOV ZHJJHVFKDIIW ZHUGHQ PXWHQ (U |IIQHWH GHQ 7UHVRU EH JDQQ ]X VWXGLHUHQ XQG KDWWH VLFK EDOG LQ GLH 6FKULIWHQ

YHUWLHIW

6R YHUJLQJHQ 6WXQGHQ RKQH GD HU HV EHPHUNWH 3O|W] OLFK VXPPWH GDV 7HOHIRQ hEHUUDVFKW IXKU GHU 3URIHVVRU KRFK:HUULHI]XVRVSlWHU6WXQGHDQ"(VPHOGHWHVLFKGHU 3I|UWQHU(LQHMXQJH'DPHZHOFKHEHKDXSWHLKU1DPHWXH QLFKWV ]XU 6DFKH JODXEH GHQ +HUUQ 3URIHVVRU JDQ] GULQ JHQG VSUHFKHQ ]X PVVHQ 6LH ODVVH VLFK PLW NHLQHP $U JXPHQWDEZHLVHQ Ä9HUGDPPWHU 8QVLQQ³ PXUPHOWH GHU 3URIHVVRU 'DQQ K|UWH HU GHXWOLFK VDJHQ Ä*HEHQ 6LH PLU GHQ +|UHU³ 'HU 3I|UWQHUVFKLHQVLFKHLQVFKFKWHUQ]XODVVHQJOHLFKGDUDXI YHUQDKP GHU 3URIHVVRU HLQH DQJHQHKPH )UDXHQVWLPPH Ä%LWWH ELWWH +HUU 3URIHVVRU HPSIDQJHQ 6LH PLFK HV LVW VHKUZLFKWLJ8QHUPHOLFKHU6FKDGHQGURKW%LWWH³ 'HU 3URIHVVRU ODXVFKWH 'LH 6WLPPH NODQJ VR GUlQJHQG (V NDP LKP LQ GHQ 6LQQ ZLH HU VHOEVW DOOH 7DJH DOV %LWW VWHOOHU KHUXPJHODXIHQ ZDU $XI VHLQH )UDJH PLW ZHP HU GHQQ GLH (KUH KDEH NDP GLH $QWZRUW GDV ZROOH VLH QXU LKPDOOHLQVDJHQ .XU]HQWVFKORVVHQRUGQHWHHUDQGLH%HVXFKHULQKHUDXI ]XIKUHQ'LH(LQWUHWHQGHPRFKWHHWZD$QIDQJGHU=ZDQ ]LJ VHLQ 6LH ZDU RKQH 7DVFKH GLH PDQ LKU ZRKO DXV 6L FKHUKHLWVJUQGHQDEJHQRPPHQKDWWH,P6FKHLQGHU7LVFK ODPSHVDKGHU3URIHVVRUGDVLHHLQHXQJHZ|KQOLFKVFK| QH)UDXZDU Ä0HLQ 1DPH LVW *HQHYLqYH 0LFKDXG LFK ELQ 6WXGHQWLQ GHU eFROH GHV %HDX[ $UWV KLHU ELWWH PHLQ 6WXGHQWHQDXV ZHLV³EHJDQQGLH%HVXFKHULQ Ä,FKQHKPHQLFKWDQGD6LHJHNRPPHQVLQGPLUGDV]X VDJHQ³ 'LHMXQJH'DPHVFKWWHOWHHUQVWGHQ.RSIÄ,FKNRPPH

ZHJHQ GHU HLQKXQGHUWIQIXQGDFKW]LJ .LOR VFKZHUHQ :DV VHUV³ 'HU 3URIHVVRU KDWWH LQ VHLQHP /HEHQ 6FKDXVSLHONQVWH QLHQ|WLJJHKDEW9HUIOXFKWDQPHLQHPHQWVHW]WHQ*HVLFKW VLHKWVLHPLUVRIRUWDQZLHHUVFKURFNHQLFKELQGDFKWHHU 7URW]GHP VSUDFK HU Ä(LQKXQGHUWIQIXQGDFKW]LJ .LOR 3DUEOHXHLQHVROFKH0HQJHGUIWHHVZRKODXIGHUJDQ]HQ (UGHQLFKWJHEHQ³ Ä$XHUGHQ]Z|OI.DQLVWHUQLQ,KUHP%HVLW]³ Ä)UVHLQ6WHFNHQSIHUGRSIHUWDXFKHLQ0DQQLQPHLQHQ -DKUHQJHUQHLQKDOEHV6WQGFKHQ0DGHPRLVHOOH%HVDJWHU 6WRII LVW PHLQ 6WHFNHQSIHUG LFK JHVWHKH HV SODXGHUQ 6LH UXKLJZHLWHU³ 'LH MXQJH 'DPH KROWH WLHI /XIW Ä,FK YHUVWHKH 6LH +HUU 3URIHVVRU %LWWH K|UHQ 6LH PLFK DQ ,FK ZDU HLQH NOHLQH 0RGLVWLQLP6DORQ-DFRPHW,P$UURQGLVVHPHQW9DXJLUDUG JURJHZRUGHQPHLQ9DWHUEHWUHLEWGRUWHLQH)OLFNVFKXVWH UHLKDWWHLFKQLHHLQH&KDQFHPHLQH%HJDEXQJLP0DOHQ ]XHQWZLFNHOQ0RGLVWLQEHL0DGDPH-DFRPHWGDVZDUGDV +|FKVWHUUHLFKEDUH9RQGHQ+HUUHQGLHLKUH'DPHQLQGHQ 6DORQ EHJOHLWHQ QlKHUQ VLFK QLFKW ZHQLJH GHQ 0RGLVWLQ QHQVRIHUQVLHJXWDXVVHKHQ(LQHV7DJHVVWHFNWHPLUHLQHU GHU +HUUHQ HLQ =HWWHOFKHQ ]X $OOH PDFKHQ GDV VR VDJWH LFKPLUXQGJLQJ]XGHP5HQGH]YRXV'HU+HUUIXKUGHQ JU|WHQ &LWURsQ XQG KDWWH =HLW PLW PLU QDFK 6DLQW&ORXG ]XIDKUHQ(VZDUHLQQHWWHU$EHQG'HU0DQQVFKLHQQLFKW ]XMHQHQ]XJHK|UHQGLHJODXEHQPDQPVVHLKQHQJOHLFK LQ GHQ HUVWHQ 6WXQGHQ ]X :LOOHQ VHLQ (U HUNXQGLJWH VLFK VHKU WHLOQDKPVYROO QDFK PHLQHP /HEHQ PHLQHQ :Q VFKHQXQG7UlXPHQ,FKHU]lKOWHLKPZLHJHUQLFK0DOH UHLVWXGLHUWKlWWH(UEUDFKWHPLFKQDFK+DXVH$OOHVKDWWH 6FKLFN XQG $QVWDQG :DUXP VROOWH LFK HLQH ]ZHLWH (LQOD

GXQJ DEOHKQHQ" 'HU 0DQQ VDK JXW DXV 0LWWH 9LHU]LJ WDGHOORVHU.DYDOLHU ,FKWUDI3DXO3LpWULVRQDQQWH HUVLFKZLHGHU$OOHVZDU ZLH EHLP HUVWHQPDO (U HU]lKOWH GHQ 6WDGWUDW IU .XOWXU XQGGHQ'LUHNWRUGHU+RFKVFKXOHGHU6FK|QHQ.QVWHVHKU JXW]XNHQQHQXQGHVVHLLKPHLQOHLFKWHVPLUHLQH )UHL VWHOOHXQGHLQ6WLSHQGLXP]XYHUVFKDIIHQ'DVPXWHDOOHV GHU:DKUKHLWHQWVSUHFKHQGHQQZHQLJH7DJHVSlWHUHUKLHOW LFK HLQH (LQODGXQJ PLFK LQ GHU 6FKXOH YRU]XVWHOOHQ ,FK ZXUGHDQJHQRPPHQXQG²ZDUJOFNOLFK

:LUWUDIHQXQVGDQQRIW6HLQH/HLGHQVFKDIWZDUGLHJUR H3ROLWLN'LQJHIUGLHLFKNDXP HLQHQ 6LQQ KDWWH $OO PlKOLFK OHUQWH LFK YLHO YRQ LKP )UDQNUHLFKV :LHGHUDXI

VWLHJVHLQH%HIUHLXQJDXVMGLVFKHQXQGIUHLPDXUHULVFKHQ )HVVHOQ KLQJH YRQ GHU GHXWVFKIUDQ]|VLVFKHQ 9HUVWlQGL JXQJDEIUGLHGDV&RPLWp)UDQFH$OOHPDJQHHLQWUHWH³ Ä'LHVH.DQDLOOH³HQWIXKUHVGHP3URIHVVRU 'LH MXQJH 'DPH VHXI]WH Ä:RKHU VROOWH LFK GDV ZLVVHQ" (VVDKGRFKDOOHVVRKDUPORVDXV (VZDUNQDSSHLQ-DKUYHUJDQJHQGDWHLOWHPLU3LpWULPLW LKP VHL ]X 2KUHQ JHNRPPHQ PHLQ 6WLSHQGLXP N|QQH QLFKW YHUOlQJHUW ZHUGHQ 'DV VHL VDJWH HU HLQH )ROJH GHU 3ROLWLNGHUKHXWLJHQ0DFKWKDEHUGLH)UDQNUHLFKGHP5XLQ HQWJHJHQIKUWHQ,FKZDUUDWORV %DOG GDQDFK KROWH PLFK 3LpWUL YRQ GHU 6FKXOH DE XP ZLHHUVDJWHPLWPLUHLQHUQVWHV:RUW]XUHGHQ(UVSUDFK YRQ GHU 1RWZHQGLJNHLW GHQ .DPSI XP )UDQNUHLFKV )UHL KHLW ]X YHUVWlUNHQ XQG YRQ GHQ JURKHU]LJHQ IUDQ]| VLVFKHQ )UDXHQ GLH IU GLHVHQ .DPSI ]X MHGHP 2SIHU EHUHLWVHLQPWHQ 3LpWUL PHLQWH GLH 0|JOLFKNHLW PHLQ 6WXGLXP ]X ILQDQ ]LHUHQEHVWHKHZHLWHUKlQJHDEHUYRQHLQHUDNWLYHQ8QWHU VWW]XQJGHUJXWHQ6DFKHDE ,FK VDK NHLQHQ *UXQG GDUDQ ]X ]ZHLIHOQ GD GLHVH 6D FKH JXW VHL XQG *HOG IU GDV 6WXGLXP NRQQWH LFK VHKU JHEUDXFKHQ 3LpWUL HUNOlUWH PLU ZDV YRQ PLU HUZDUWHW ZXUGH ,FK VROOWHGLH%HNDQQWVFKDIWHLQHVEHVWLPPWHQMXQJHQ0DQQHV PDFKHQXQGYHUVXFKHQLKPHWZDV]XEHGHXWHQ ,FK ZDU HQWVHW]W 3LpWUL PHLQWH GDV VHL HLQH LP SROLWL VFKHQ .DPSI EHUDOO JHEUlXFKOLFKH :DIIH XQG HV N|QQH NHLQH)UDXJHEHQGLHGDIUEHVVHUJHHLJQHWVHLDOVLFK,FK ZROOWHPLFKZHLJHUQ(U]HLJWHPLUHLQ%FKOHLQPLW]Z|OI XQWHUVFKULHEHQHQ 6FKHFNV XQG PHLQWH HLQHQ VROFKHQ EHNlPHLFKMHGHQ0RQDWLQ+|KHPHLQHV6WLSHQGLXPVXQG

GDV6WLSHQGLXPYRQGHU6FKXOHDXHUGHP 'HQNHQ6LH+HUU3URIHVVRUYRQPLUZDV6LHZROOHQ,FK VDJWH]X3LpWULIKUWHPLFKLQHLQNOHLQHVHOHJDQWHV&DIH $Q HLQHP 7LVFK VD HLQ MXQJHU VHKU JXW DXVVHKHQGHU 0DQQ :LU QDKPHQ GRUW 3ODW] 3LpWUL QDQQWH PLFK HLQLJH 0DOHPHLQHOLHEH1LFKWH(UYHUOLHVHKUEDOGGDV/RNDO ,FK ZDU PLW GHP MXQJHQ 0DQQ DOOHLQ :LH YRQ VHOEVW ND PHQZLULQV*HVSUlFK$XVGHPVSlWHQ1DFKPLWWDJZXUGH HLQIUKHU0RUJHQLQHLQHU7DQ]EDU:LUWUDIHQXQVZLHGHU XQGZLHGHUXQGNWHQXQV 0LW 3LpWUL ZDU DOOHV VHKU HLQIDFK (U YHUODQJWH YRQ PLU QLFKWV DQGHUHV DOV HEHQ PHLQHQ )UHXQG IHVW]XKDOWHQ 'DV NRQWUROOLHUWH HU ELVZHLOHQ LQGHP HU GLHVHOEHQ /RNDOH DXIVXFKWH LQ GHQHQ ZLU XQV WUDIHQ 'DEHL YHUPLHG 3LpWUL GD/XFLHQLKQVDK³ Ä/XFLHQ"³IUDJWHGHU3URIHVVRUJHGHKQW *HQHYLqYH QLFNWH Ä6LH DKQHQ GDV 5LFKWLJH PHLQ +HUU /XFLHQ'XFKLQ³ 'HP *HOHKUWHQ ZDU HV DOV JULIIH LKP HLQH +DQG DQV +HU] /XFLHQ'XFKLQVHLQ ]ZHLWHU $VVLVWHQW 0LW JHSUH WHU6WLPPHEUDFKWHHUKHUYRUÄ(LQ0lUFKHQ³ *HQHYLqYH VDK LKQ PLW JURHQ $XJHQ DQ 6LH IXKU IRUW Ä(V VFKHLQW EHLQDKH VR :HQQ GLH HLQKXQGHUWIQIXQGDFKW ]LJ .LOR VFKZHUHQ :DVVHUV DXFK HLQV ZlUHQ PLU ZDUåV OLHE³ 'HU3URIHVVRUNQLIIGLH$XJHQ]XVDPPHQ,FKPXGLHVH )UDXUHGHQODVVHQGDFKWHHULPPHUQXUUHGHQODVVHQ Ä,FK ELQ KLHUKHUJHNRPPHQ VHOEVW DXI GLH *HIDKU KLQ GD/XFLHQVHLQH6WHOOHYHUOLHUW'HU*HOLHEWHHLQHU$JHQ WLQ 'DYRQ GD 6LH PLFK GHU 3ROL]HL EHUJHEHQ N|QQHQ ZLOOLFKJDUQLFKWVSUHFKHQ ,FK KDEH 3LpWUL RIW JHIUDJW ZDV DXV GLHVHU *HVFKLFKWH

ZHUGHQ VROO $EZDUWHQå VDJWH HU ]XP JHJHEHQHQ =HLW SXQNWZHUGHQZLUGLH9HUELQGXQJJHEUDXFKHQN|QQHQå ,FK ZXWH QDWUOLFK ZR /XFLHQ DUEHLWHW XQG GD HU ,KU $VVLVWHQW LVW 'HU JURH 1DPH ,KUHV ,QVWLWXWV VDJWH PLU DXFK HLQLJHV EHU GLH :LFKWLJNHLW GHU $UEHLW /XFLHQV (U VHOEVWKDWPLUQLHHWZDVGDYRQHU]lKOW ,FKWUXJVFKZHUDQ GHP *HKHLPQLV GDV LFK LKP JHJHQ EHU KDWWH DEHU LFK ZDJWH HV QLFKW PLFK ]X RIIHQEDUHQ ,FKKDWWH$QJVWHUVFKLFNHPLFKZHJ'DVKlWWHPLFKDP $QIDQJZHQLJEHUKUW DEHUKHXWHP|FKWHLFKLKQQLHQLH PHKUYHUOLHUHQ 0HKUHUH 0DOH KDEH LFK 3LpWUL DXIJHIRUGHUW PLFK YRQ GHP $XIWUDJ ]X HQWELQGHQ (U DQWZRUWHWH PLU YRQ HLQHP $XIWUDJ N|QQH GRFK JDU NHLQH 5HGH VHLQ *HQDXJHQRP PHQEHNlPHLFKPHLQ*HOGIUXPVRQVW(UWDWDOVKlWWHHU 9HUVWlQGQLV IU PHLQH /DJH XQG PHLQWH XQWHU JHZLVVHQ 8PVWlQGHQN|QQWHQVLHDXIPLFKYHU]LFKWHQ6LHEHNlPHQ YLHOOHLFKW HLQH EHVVHUH 9HUELQGXQJ QXU VHL GHU 0DQQ IU OlQJHUH=HLWQLFKWLQ)UDQNUHLFKNRPPHHU]XUFNN|QQH PDQEHUGLH$XIKHEXQJPHLQHU9HUSIOLFKWXQJHQUHGHQ³ 'HU 3URIHVVRU GDFKWH DQJHVWUHQJW QDFK (LQ 9HUUlWHU LQ VHLQHP,QVWLWXW"(LQHUGHUOlQJHUH=HLWDXHU/DQGHVZDU" $XHU/DQGHVZDUQXU'U/DUULHUDEHUHUZDUHVQRFKXQG VDLQ(QJODQGHLQLJHUPDHQDEVHLWVYRP6FKX Ä6SUHFKHQ6LHZHLWHU³VDJWHHU Ä'HU 5HVW LVW VFKQHOO HU]lKOW :lKUHQG GHV NRPLVFKHQ .ULHJHVJLQJDOOHVVHLQHQQRUPDOHQ*DQJ6HLWVHFKV7DJHQ DEHU LVW YLHOHV DQGHUV :DV 3LpWUL PLU YRQ GHQ 'HXWVFKHQ HU]lKOW KDW LVW DOOHV /JH -HW]W ]HLJHQ VLH LKU ZDKUHV *HVLFKWXQGMHW]WZHLLFKDXFKZLHGHUGDLFK)UDQ]|VLQ ELQ +HXWHQDFKPLWWDJVXFKWHPLFK3LpWULDXI'LH6WXQGHGHU

%HZlKUXQJ VHL JHNRPPHQ VDJWH HU 1XQ VROOWH LFK KDQ GHOQ 0DQ PVVH XQEHGLQJW HUIDKUHQ ZR GDV VFKZHUH :DVVHU VHL ,FK IUDJWH LKQ ZHU GDV PDQå VHL 6WHOO GLFK QLFKWVRGXPPåDQWZRUWHWHHU,QZHQLJHQ7DJHQVLQGGLH 'HXWVFKHQ LQ 3DULV )UDQNUHLFK ZLUG 'HXWVFKODQGV 9HU EQGHWHULP.DPSIJHJHQ-XGHQWXPXQG%ROVFKHZLVPXV *OFNOLFK ZHU IU GLHVH (QWZLFNOXQJ JHNlPSIW KDW LKP LVWUHLFKHU/RKQVLFKHUå %OLW]VFKQHOOZXWHLFKZDVLFK]X WXQ KDWWH +LHU KDOI QXU 9HUVWHOOXQJ :LHYLHO EHNRPPH LFK"å ODXWHWH PHLQH ]ZHLWH )UDJH 3LpWUL VDJWH ODFKHQG =ZDQ]LJWDXVHQG ZDUXP VROOHQ QXU DQGHUH YHUGLHQHQ $EHU LQ GUHL 7DJHQ PVVHQ ZLU ZLVVHQ ZR GDV VFKZHUH :DVVHUVWHFNWå ,FKYHUVSUDFKPHLQP|JOLFKVWHV]XWXQ$P$EHQGJLQJ LFK]X/XFLHQ,FKZROOWHLKPDOOHVVDJHQEUDFKWHHVDEHU QLFKWEHUV+HU]9LHOOHLFKWZDUHVHLQUHLQHU=XIDOOGDHU PLUHU]lKOWH6LHKlWWHQLQGHQOHW]WHQ7DJHQYLHObUJHUPLW GHQ %HK|UGHQ ,FK ZXWH VRIRUW ZRULQ GLHVHU bUJHU EH VWDQG ,FK ZXWH DXFK DQ 6LH DQ NHLQHQ DQGHUHQ VRQVW PXWHLFKPLFKZHQGHQ³ *HQHYLqYHVFKZLHJ 'HU3URIHVVRUHUKREVLFKODQJVDPXQGJLQJJUEHOQGGHQ 5DXPDXIXQGDEÄ8QGQXQ"³IUDJWHHU Ä:DV 6LH ]X WXQ KDEHQ ZLVVHQ 6LH EHVVHU DOV LFK ,FK ZHUGH GHU 3ROL]HL KHOIHQ 3LpWUL ]X YHUKDIWHQ IDOOV PDQ GDUDXI:HUWOHJW³ 'HU3URIHVVRUEHUOHJWHDQJHVWUHQJW'DQQVDJWHHUWURN NHQÄ*XWZLH6LHZQVFKHQ³'DQQOLHHUGLH)UDXGXUFK HLQHQ:lFKWHUKLQDXVIKUHQ$OVGLH7UJHVFKORVVHQZDU ULHI HU /XFLHQ 'XFKLQ DQ VRIRUW LQV ,QVWLWXW ]X NRPPHQ 'U 'XFKLQ ZDU DXFK VRIRUW EHUHLW XQG HU]lKOWH VHLQHP &KHIQRFKVFKQHOO*DVWRQ/DUULHUVHLKHXWHDEHQGLQ3DULV

DQJHNRPPHQXQGKDEHLKQEHVXFKW« (LQHVHQVDWLRQHOOH1DFKULFKW'U /DUULHU LQ 3DULV 2KQH $XIWUDJ ]X HLQHU =HLW ZR DXI GHU 7DJHVRUGQXQJ VWDQG 3DULV]XYHUODVVHQ:DVVROOWH/DUULHUKLHU" (V ZDU MHW]W GULQJHQG JHUDWHQ PLW 5HQp %RQQDUG ]X VSUHFKHQ 5HQp ZDU GHU EHVRQGHUH 9HUWUDXWH GHV 3URIHV VRUV 9RU GHP 9HUERW GHU .RPPXQLVWLVFKHQ 3DUWHL ZDU HU ([SHGLHQWEHLGHUÄ+XPDQLWp³JHZHVHQ'DKLQWHUYHUEDUJ VLFK MHGRFK PHKU (U JDOW LQ HLQHP NOHLQHQ .UHLV (LQJH ZHLKWHU DOV DXVJH]HLFKQHWHU NRQVSLUDWLYHU 3DUWHLDUEHLWHU 'HVZHJHQ KDWWH LKQ GHU 3URIHVVRU DXFK LP 6HSWHPEHU YHUJDQJHQHQ -DKUHV RKQH JU|HUH %HGHQNHQ DP ,QVWLWXW HLQJHVWHOOWXPVRHKHUDOV5HQpHLQVHKUWFKWLJHU0HFKD QLNHU ZDU 5HQp ZDU WHOHIRQLVFK HUUHLFKEDU (U YHUVSUDFK LQHLQHUKDOEHQ6WXQGHGD]XVHLQ

'HU 3URIHVVRU K|UWH 'XFKLQV 6LPFD DXVODXIHQ :HQLJH 0LQXWHQVSlWHUVWDQGGHUMXQJH'RNWRUGHU3K\VLNLP%UR VHLQHV&KHIV Ä,FK KDEH 6LH KRIIHQWOLFK QLFKW DXV DQJHQHKPHU *HVHOO VFKDIW JHULVVHQ³ OHLWHWH GHU 3URIHVVRU GDV *HVSUlFK HLQ 'XFKLQ EHHLOWH VLFK ]X YHUVLFKHUQ GD GHP QLFKW VR VHL XQG ZHQQ ZlUH GDV DXFK QLFKW VFKOLPP (U ZLHGHUKROWH /DUULHU VHL DXI HLQ SDDU 0LQXWHQ ]X LKP JHNRPPHQ XP HLQ ELFKHQ GDUEHU ]X K|UHQ ZDV HV DP ,QVWLWXW 1HXHV JHEH Ä:DUXPLVWHUEHUKDXSWJHNRPPHQ"³IUDJWHGHU3URIHV VRU Ä/DUULHU PHLQWH LQ GHU 6WXQGH GHU *HIDKU JHK|UH GHU )UDQ]RVHDQVHLQHQ3ODW],FKILQGHGDVDXFK(LQSUlFKWL JHU0HQVFKGHU'RNWRU/DUULHU³DQWZRUWHWH'XFKLQ Ä*LEWHV1HXHVLQ/RQGRQ"³

Ä6LFKHUOLFK DEHU GDUEHU KDEHQ ZLU NDXP JHVSURFKHQ /DUULHU LVW EHVRUJW XP GDV VFKZHUH :DVVHU GDV LVW XQVHU +DXSWWKHPDJHZHVHQ³ Ä+DEHQ6LHLKPGDYRQHU]lKOW"³ Ä1HLQHUZXWHHVXQGPHLQWHPDQVROOWHHVLQLUJHQG HLQHP3DULVHU9RURUWYHUJUDEHQ³ Ä:UGHQ 6LH QDFK (QJODQG IDKUHQ" +DEHQ 6LH LUJHQG ZHOFKH %LQGXQJHQ GLH 6LH DQ 3DULV RGHU VDJHQ ZLU ZH QLJVWHQVDQ)UDQNUHLFKIHVVHOQ"³ Ä1DWUOLFK ZUGH LFK QDFK (QJODQG IDKUHQ YRUDXVJH VHW]WGDPDQGRUWDUEHLWHQNDQQVRQVWJHKHLFKOLHEHUDQ GLH)URQW³ Ä$OVRNHLQH%LQGXQJHQ"³ Ä,FK KDEH HLQH )UHXQGLQ DEHU GDV LVW HLQ HLQVLFKWLJHU 0HQVFK³ Ä(LQH.ROOHJLQ"³ Ä1HLQJDQ]DQGHUH)DNXOWlW²0DOHULQ³ 'DV 7HOHIRQ VXPPWH 'HU 3I|UWQHU PHOGHWH 5HQp %RQ QDUG 'XFKLQZDUHUVWDXQWÄ%RQQDUG"³ Ä-D %RQQDUG ,FK KDEH LKQ KHU JHEHWHQ 8QG 6LH ELWWH LFK LP 9RU]LPPHU 3ODW] ]X QHKPHQ (V ZLUG QLFKW ODQJH GDXHUQ³ Ä'DV LVW VFKRQ HLQ WROOHV 6WFN³ VDJWH %RQQDUG DOV GHU 3URIHVVRU VHLQHQ DXVIKUOLFKHQ %HULFKW EHHQGHW KDWWH Ä:HQQ PDQ ZWH RE PDQ GLHVHP 0lGFKHQ WUDXHQ GDUI ,QZHOFKH)DOOHN|QQHQZLUVWROSHUQ"³ %HLGH0lQQHUVFKZLHJHQ Ä:LU VROOWHQ HLQHQ 9HUVXFK PDFKHQ³ EHJDQQ %RQQDUG ]|JHUQGÄODPLFKPLWLKUUHGHQ³ *HQHYLqYHVSUDQJYRP6WXKOKRFKDOVVLFKGLHVFKZHUH

6WDKOWU|IIQHWHÄ.ULPLQDOSROL]HL³VDJWH%RQQDUGVWUHQJ Ä%LWWHVFK|QLFKELQEHUHLW³ Ä1LFKWVRKDVWLJ.OHLQHHU]lKOPDOOLHEHUHLQELFKHQ³ *HQHYLqYH EHULFKWHWH LKP LQ NXU]HQ =JHQ LKUH *H VFKLFKWH Ä'DV VLQG MD VFK|QH 6DFKHQ VR HLQ MXQJHV 'LQJ XQG VFKRQYRUV.ULHJVJHULFKW³VSUDFK%RQQDUGDOVVLHJHHQGHW KDWWH *HQHYLqYH YHUORU IU HLQHQ 0RPHQW GLH )DVVXQJ Ä.ULHJVJHULFKW"³ Ä7MD³VDJWH%RQQDUGXQJHUKUWÄ6SLRQDJHDOOHUJHKHLP VWH/DQGHVYHUWHLGLJXQJGDVVLHKWVFKOLPPDXV³ *HQHYLqYHWUDWHQ7UlQHQLQGLH$XJHQ Ä1XQMDGHQ.RSIZLUGHVQLFKWNRVWHQ³EHUXKLJWH%RQ QDUGVLH'DQQVWHOOWHHUHLQLJH)UDJHQGLHVLFKXP*HQH YLqYHVDQIlQJOLFKJXWHQ*ODXEHQGUHKWHQ(UOLHVLHDXFK ZLHGHUKROHQ ZDV VLH 3RVLWLYHV EHU 3LpWUL JHVDJW KDWWH 6FKOLHOLFKVWUHXWHHULQGDV *HVSUlFKYRUVLFKWLJH$QGHX WXQJHQ GDUEHU HLQ GD HV P|JOLFKHUZHLVH 5LFKWHU YLHO OHLFKWDXFKVFKRQ3ROL]HLEHDPWHJHEHGLHGHUQHXHQ/DJH 5HFKQXQJWUJHQ'LH'HXWVFKHQYRU3DULVZHUVHW]HVLFK GD JHUQ HLQH /DXV LQ GHQ 3HO]" %RQQDUG ZlKOWH VHKU JH VFKLFNWGLH:RUWHVRGDHV*HQHYLqYHLPHUVWHQ$XJHQ EOLFNZLHHLQ7URVWVFKLHQ$OVHUDEHUGLHVHV7KHPDPHK UHUH 0DOH EHUKUWH NDP LKU GHU 9HUGDFKW GHU 3URIHVVRU N|QQWHVLFKLQGHU$XVZDKOVHLQHU%H]LHKXQJHQ]XU3ROL]HL JHWlXVFKW XQG VR GHQ %RFN ]XP *lUWQHU JHPDFKW KDEHQ ,KU ZDU NODU ,Q GLHVHQ 6FKLFNVDOVVWXQGHQ )UDQNUHLFKV VFKLHGHQVLFKGLH*HLVWHU6RZLHVLH*HQHYLqYHLQOHW]WHU 0LQXWH ]X LKUHP 9DWHUODQG ]XUFNJHIXQGHQ KDWWH VR JDE HV VLFKHUOLFK DXFK VROFKH GLH JHVWHUQ QRFK ]XYHUOlVVLJ ZDUHQ XQG KHXWH VFKRQ QDFK GHQ QHXHQ +HUUHQ VFKLHOWHQ

'LHVHU .ULPLQDOPHQVFK KLHU NRQQWH GXUFKDXV ]X MHQHQ JHK|UHQ -HW]W KLH HV DXI GHU +XW VHLQ +DWWH LKU 3LpWUL QLFKW JHVDJW HLQH )UDX ZLH VLH N|QQH EHL 0lQQHUQ DOOHV HUUHLFKHQ"0LWHLQHP%OLFNGHU6WHLQHHUZHLFKHQNRQQWH EDW VLH GHQ .ULPLQDOEHDPWHQ LKU DXV GHU VFKUHFNOLFKHQ /DJH]XKHOIHQ %RQQDUG WDW YHUOHJHQ DEHU QLFKW DEZHLVHQG (UVW PVVH PDQ GLHVHV +DXV YHUODVVHQ VDJWH HU GUDXHQ DXI GHU 6WUDHN|QQHPDQZHLWHUVHKHQ$UWXQG7RQVHLQHU:RUWH OLHHQYHUPXWHQGDHU*HQHYLqYHHYHQWXHOOGLH0|JOLFK NHLW JHEHQ ZUGH ]X HQWIOLHKHQ 6LH OlFKHOWH LKQ DQ XQG DXFKHUYHU]RJVHLQ*HVLFKW]XHLQHP*ULQVHQVFKHLQEDUHQ (LQYHUQHKPHQV 'DQQ YHUOLHHQ VLH GHQ 5DXP 'HU :lFKWHU JLQJ YRU LKQHQGLH7UHSSH KLQDE $XIIlOOLJ EDUVFK XQG VHKU JHJHQ VlW]OLFK ]X VHLQHP ELVKHULJHQ 7RQ VFKQDX]WH %RQQDUG Ä0DFKHQ6LHNHLQH'XPPKHLWHQEHLP JHULQJVWHQ)OXFKW YHUVXFKNQDOOWåV³ -HW]W ZXWH *HQHYLqYH GHU 0DQQ VSLHOWH .RP|GLH HU ZDUHLQ9HUUlWHU$OVVLHGHQ)OXUHUUHLFKWHQDXIGHPGDV %UR GHV 3URIHVVRUV ODJ XQG GLH HUVWHQ 6WXIHQ ]XU QlFK VWHQ(WDJHKLQDEVFKULWWHQJDEVLH %RQQDUG HLQHQ KHIWLJHQ 6WR GHU LKQ GLH KDOEH 7UHSSH KLQDEZDUI XQG MDJWH GHQ .RUULGRU]XUFNLQGDV =LPPHU GHV 'LUHNWRUV 6LH UL GLH 7U DXI XQG VFKULH Ä1LFKW PLW GLHVHP %HDPWHQ +HUU 3URIHVVRUQLFKWPLWGLHVHPGDVLVWHLQ9HUUlWHU³ ,Q GLHVHP $XJHQEOLFN NDP %RQQDUG ]XU 7U KHUHLQ *OHLFK]HLWLJ HQWGHFNWH *HQHYLqYH /XFLHQ ,Q K|FKVWHU 9HUZLUUXQJ ZDUI VLH VLFK GHP 3URIHVVRU LQ GLH $UPH Ä+HOIHQ6LH+HUU3URIHVVRUEHUDOO9HUUDW2K/XFLHQ³ 'XFKLQZDUDXIJHVSUXQJHQÄ*HQHYLqYH³

%RQQDUGZDQGWHVLFKDQGHQ3URIHVVRUÄ,FKJODXEHGDV LVWHLQH)UDQ]|VLQ³ 'LHEHLGHQ0lQQHUYHUVWlQGLJWHQVLFKPLWHLQHPUDVFKHQ %OLFN*HQHYLqYHKDWWHLKU9HUWUDXHQJHZRQQHQ 'HU3URIHVVRUHUNOlUWH'XFKLQNXU]GLH/DJH(UIRUGHUWH GHQ MXQJHQ 0DQQ DXI VLH QLFKW YRP 6WDQGSXQNW VHLQHU %H]LHKXQJHQ ]X *HQHYLqYH ]X EHWUDFKWHQ VRQGHUQ MHW]W HLQ]LJXQGDOOHLQDQGLH$XIJDEHQ]XGHQNHQ%RQQDUGEDW *HQHYLqYH XP (QWVFKXOGLJXQJ IU GLH NOHLQH .RP|GLH GHUHQ 6LQQ GXUFK LKU 5HDJLHUHQ VR JOlQ]HQG EHVWlWLJW ZRUGHQ ZDU 'XFKLQ VFKOXFNWH 9HUZXQGHUXQJ XQG bUJHU KLQXQWHU*HQHYLqYHOlFKHOWHZLHHUO|VW 'LH YLHU 0HQVFKHQ VHW]WHQ VLFK ]XVDPPHQ XQG KLHOWHQ

5DW 6LH ZDUHQ EDOG HLQLJ 'LH +LOIH GHV 0DULQHPLQLVWHUV PXWH DQJHQRPPHQ ZHUGHQ -HW]W ZDU HV QRFK P|JOLFK GLH ]Z|OI .DQLVWHU QDFK %RUGHDX[ ]X VFKDIIHQ 'RUW EH JDQQHQ GLH JU|WHQ *HIDKUHQ 'LH IUDQ]|VLVFKH $WODQWLN NVWH XQG DOOH HQJOLVFKHQ +lIHQ ODJHQ LP $NWLRQVEHUHLFK GHUIDVFKLVWLVFKHQ/XIWZDIIH 6LH VWHOOWHQ VLFK GLH )UDJH ZHU GHQ 7UDQVSRUW IKUHQ VROOWH 0HKU DOV ]ZHL 0DQQ GDPLW ]X EHWUDXHQ ZDU QLFKW UDWVDP (LQHU YRQ LKQHQ PXWH GLH 9HUDQWZRUWXQJ EHU QHKPHQ Ä/DUULHU³VDJWH%RQQDUG 'UHL $XJHQSDDUH VFKDXWHQ LKQ DQ DOV KlWWH HU GHQ 9HU VWDQGYHUORUHQ Ä/DUULHU LVW GHU ULFKWLJH 0DQQ (U ZLUG GLH ]Z|OI .DQL VWHUEHNRPPHQXQGQDFK(QJODQGUHLVHQ³ Ä,FKYHUVWHKHQLFKW³ZDUIGHU3URIHVVRUGD]ZLVFKHQ Ä,FK JODXEHÄ HV LVW HLQH JXWH ,GHH ,VW /DUULHU 3LpWULV 0DQQZLUG VLFK 3LpWUL VHKU GDUEHU IUHXHQ 'DV ZLUG PLU QLFKWYHUERUJHQEOHLEHQ³VDJWH*HQHYLqYH Ä:LU N|QQHQ /DUULHU QLFKW GDV VFKZHUH :DVVHU DQYHU WUDXHQ³PHLQWHGHU3URIHVVRU %RQQDUG DQWZRUWHWH OlFKHOQG Ä0HLQ OLHEHU *pUDUG GDV KDW DXFK QLHPDQG EHDEVLFKWLJW LFK VSUDFK YRQ GHQ .DQL VWHUQ :LU QlKHQ MHGHQ HLQ]HOQ LQ HLQHQ 6DFN HLQ XQG /DUULHUWUDQVSRUWLHUWSXUHV:DVVHU³ Ä:LHVR LQ HLQHQ 6DFN HLQQlKHQ XQG ZDV ZLUG PLW GHP VFKZHUHQ:DVVHU"³IUDJWH'XFKLQ Ä'HQ 6DFN ZHJHQ GHV 6LHJHOV 'LH 1RUVN +\GURå KDW ZRKO NHLQH 'XEOHWWHQ PLWJHOLHIHUW :LU PVVHQ VLH DEHU HUEUHFKHQGDV=HXJXPIOOHQLQ]HKQ.DQLVWHUZUGHLFK YRUVFKODJHQ XQG GLH VROOWH /XFLHQ 'XFKLQ QDFK (QJODQG VFKDIIHQ³

Ä8QP|JOLFKVLHEHJHJQHQVLFK MD DQ %RUG GHU 0DULQH PLQLVWHUZLUGXQVGRFKQXUHLQHQNOHLQHQ.DKQ]XU9HUI JXQJVWHOOHQN|QQHQ³JDEGHU3URIHVVRU]XEHGHQNHQ Ä=ZHLVROOHUJHEHQ]ZHLNOHLQH.lKQHZLUG)UDQNUHLFK ZRKOQRFKKDEHQXQG]ZHL+lIHQDXFK³HQWJHJQHWH%RQ QDUG Ä$XVJH]HLFKQHW³ 'HU3URIHVVRUVWUDKOWHXQGGLH EHLGHQ MXQJHQ/HXWHVWLPPWHQ]X *HQHYLqYH ZXUGH SO|W]OLFK QDFKGHQNOLFK Ä/DUULHU ZLUG YHUVXFKHQ DXI GHU 6WUHFNH OLHJHQ]XEOHLEHQ XP VLFK YRQ GHU )URQW EHUUROOHQ ]X ODVVHQ :LH ZLOO GHU GHU PLW LKP IlKUWGDVYHUKLQGHUQ"³ Ä'DV KlQJW GDYRQ DE ZHU PLW LKP DXI GLH 5HLVH JHKW ,FKVFKODJH2å&RQQRUYRU7RP2å&RQQRUZLUGJHUQLQGLH +HLPDWZROOHQ(ULVW GHU W\SLVFKH HQJOLVFKH 6SRUWVPDQQ IlKUW ZLH HLQ 7HXIHO $XWR XQG YHUVWHKW DXFK HWZDV YRQ 0DVFKLQHQ (U ZDU HQJOLVFKHU 6WXGHQWHQPHLVWHU LP +DOE VFKZHUJHZLFKW XQG KlOW HLQHQ 6WXEHQKRFNHU ZLH /DUULHU OHLFKWLQ6FKDFK:LUPVVHQQXUEHLGHQ HLQVFKlUIHQGD VLH GLH +DXSWVWUDH 3DULV²%RUGHDX[ QLFKW YHUODVVHQ /DUULHUZLUGHLQHQ2å&RQQRUQLFKWKLQGHUQN|QQHQGLHVHQ %HIHKODXV]XIKUHQ³0LWGLHVHP9RUVFKODJGHV3URIHVVRUV ]HLJWHVLFK%RQQDUGHLQYHUVWDQGHQXQGPHLQWHÄ8QGQXQ PHLQ )UlXOHLQ XQG DXFK LKU EHLGHQ DQ GLH $UEHLW 'DV KHLW*pUDUGXQG0RQVLHXU'XFKLQ]X%HWW'HU3URIHVVRU KDW PRUJHQ ² SDUGRQ ² KHXWH VWUDPPHQ 'LHQVW DXI GHU -DJG QDFK GHP 0DULQHPLQLVWHU +HUUQ 'XFKLQ EUDXFKHQ ZLUZDKUVFKHLQOLFKJXWDXVJHVFKODIHQ0DGHPRLVHOOHZLUG GDUDQGHQNHQGDPDQ LQ GHU HUVWHQ 1DFKW LP *HIlQJQLV NHLQHQ 6FKODI ILQGHW $OVR NDQQ VLH DXFK KLHU ZDFKHQ =HOWEDKQVWRII 1DGHO XQG )DGHQ KDEHQ ZLU LP +DXVH OlFKHUOLFK ]X JODXEHQ HLQH JHOHUQWH 0RGLVWLQ N|QQWH

NHLQH $OXPLQLXPEHKlOWHU EHNOHLGHQ ,FK ZHUGH ZHQQ GX JHVWDWWHVW OLHEHU *pUDUG GDV NRVWEDUH 1D XPIOOHQ )U GHQ5HVWGHU1DFKWILQGHWVLFKKLHUVFKRQHLQ3OlW]FKHQ³ 'DV .OHHEODWW YHUDEVFKLHGHWH VLFK YRQHLQDQGHU 5HQp IOVWHUWH GHP 3URIHVVRU XQDXIIlOOLJ ]X HU P|JH ELWWH HLQH 6WXQGHYRU'LHQVWEHJLQQ]XUFNVHLQ 'DQQ JLQJ HU PLW *HQHYLqYH DK GLH $UEHLW 1DFK HLQHU :HLOH VWHOOWH %RQQDUG ]XIULHGHQ IHVW GD VLH GHU MXQJHQ 'DPHJXWYRQGHU+DQGJLQJ%HLGHIKUWHQHLQDQJHUHJWHV *HVSUlFKGDVVLFK LP ZHVHQWOLFKHQ XP *HQHYLqYHV 7UHI IHQPLW3LpWULGUHKWH6LHZXUGHQVLFK HLQLJ %RQQDUGZDU EHUXKLJW GDV 0lGFKHQ ZUGH GHU 6LWXDWLRQ JHZDFKVHQ VHLQ $OV GHU 3URIHVVRU JHJHQ VLHEHQ 8KU GDV ,QVWLWXW EHWUDW NRQQWH 5HQp VFKRQ HLQHQ JHQDXHQ $UEHLWVSODQ IU GLH QlFKVWHQ ]Z|OI 6WXQGHQ YRUOHJHQ 'HU *HOHKUWH ZDU LKP GDQNEDU JHQDXVR KDWWH HU HV HUZDUWHW )U GHQ 3URIHVVRU EOLHE DOV +DXSWDUEHLW HLQ ]ZHLWHV 6FKLII ]X VLFKHUQ 'DV NRQQWH LKP NHLQHU DEQHKPHQ ZHU IlQGH LQ GLHVHQ 7DJHQ VRQVW =XWULWW ]X HLQHP 0LQLVWHU" 'DQQ PXWH HU /DUULHU HPSIDQJHQ VHKU HUIUHXW WXQ LKQ KLHU ]X VHKHQ XQG LKQ EHDXIWUDJHQ PLW 2å&RQQRU QRFK DP VHOEHQ $EHQG GLH 5FNUHLVH DQ]XWUHWHQ 'DUEHU KLQDXV EDW 5HQp VHLQHQ )UHXQG GHP MXQJHQ ,UHQ XQWHU YLHU $XJHQ ]X VDJHQ HU P|JH GHP 0HFKDQLNHU IU GHQ KHXWLJHQ 7DJ ]XU 9HU IJXQJVWHKHQXQGGDUEHUVWUHQJHV6WLOOVFKZHLJHQEHZDK UHQ'DQQEDW5HQpXPHLQHQ:DJHQ'DPLWVROOWHQJOHLFK QDFK GHU 5FNNHKU GHV 3URIHVVRUV YRP 0DULQHPLQLVWHU HLQLJH *HQRVVHQ QDFK 6GIUDQNUHLFK IDKUHQ 'LH 0lQQHU ZROOWH 5HQp VRIRUW EHQDFKULFKWLJHQ 6FKOLHOLFK EDW %RQ QDUGMHGHV=XVDPPHQWUHIIHQ]ZLVFKHQLKPXQG/DUULHU]X YHUKLQGHUQ

'HU3URIHVVRUIUDJWHQLFKWODQJH HUNOlUWHVLFKPLWDOOHP HLQYHUVWDQGHQXQGYHUOLHGDV+DXVXP2å&RQQRUDXI]X VXFKHQ %RQQDUG EHVWHOOWH HLQH 7D[H QDKP *HQHYLqYH PLW XP VLH]X+DXVHDE]XVHW]HQZlKUHQGHUVHOEVW]XP*HQRVVHQ ePLOH HLOWH GHP =LPPHUPDQQ XQG 9RUDUEHLWHU DXI GHP VWlGWLVFKHQ %DXKRI YRQ ,YU\ 0LW ePLOH ZXUGH HU VFKQHOO HLQLJHVZDUIUGHQHLQH.OHLQLJNHLWLQGLHVHU+RFKEXUJ GHU .RPPXQLVWHQ GUHL ZHLWHUH ]XYHUOlVVLJH =LPPHUOHXWH DXI]XWUHLEHQ 'DQQ IXKU %RQQDUG ]XUFN LQV ,QVWLWXW XQG JLQJVRIRUW]XGHPLQ]ZLVFKHQHLQJHWURIIHQHQ2å&RQQRU

$OV *HQHYLqYH NXU] QDFK GHP 0LWWDJ GDV NOHLQH &DIH QDKHGHU $YHQXH9LFWRU+XJREHWUDW ZDUWHWH 3LpWUL VFKRQ XQJHGXOGLJ 3LpWUL IUDJWH VLH ]LHPOLFK XQEHKHUUVFKW ZDV VLHHUPLWWHOWKDEH*HQHYLqYHHUNOlUWHGDVHLQ]LJHZDVVLH IHVWJHVWHOOW KDEH VHL GD HV WDWVlFKOLFK VROFK VFKZHUHV :DVVHU JHEH DEHU GDV KDEH VLH DXFK QXU HLQHP =XIDOO ]X YHUGDQNHQ Ä:DVIUHLQ=XIDOO"³IUDJWH3LpWULJHVSDQQW Ä$OVLFKDPVSlWHQ$EHQG]X'XFKLQNDP³HU]lKOWH*H QHYLqYH ÄIDQG LFK LKQ VHKU YHUlUJHUW 1DFK DOOHUOHL +LQ XQG +HU HU]lKOWH HU PLU YRQ HLQHP %HVXFK GHU LKQ HUVW ZHQLJH 0LQXWHQ YRUKHU YHUODVVHQ KDEH %HL LKUHP *H VSUlFK VHL HV XP HLQ XQJHZ|KQOLFK ZLFKWLJHV 0DWHULDO JHJDQJHQ ]HKQ ]Z|OI .DQLVWHU ZRKO (U 'XFKLQ VHL GDIU HLQJHWUHWHQ GD PDQ HV LUJHQGZR YHUJUDEH XP HV HLQHP HYHQWXHOOHQ =XJULII GHU 'HXWVFKHQ ]X HQW]LHKHQ 'HU %HVXFKHU VHL DQGHUHU 0HLQXQJ JHZHVHQ XQG EHDE VLFKWLJHGHP3URIHVVRU]XUDWHQGDV=HXJVFKOHXQLJVWDXV 3DULVIRUW]XVFKDIIHQLQMHGHU6DKDUDRDVHVHLHVVLFKHUHUDOV KLHU³

Ä+DVW GX 'XFKLQV 0HLQXQJ XQWHUVWW]W"³ IUDJWH 3LpWUL ODXHUQG Ä1DWUOLFK³VDJWH*HQHYLqYH Ä*XWXQG²KDW'XFKLQNHLQHQ1DPHQJHQDQQW"³ Ä(UVSUDFKLPPHUQXUYRQHLQHP*DVWRQ³ (LQVFKUlJHU%OLFNEHOHKUWH *HQHYLqYHZLHVLFKHUGLHVH %HPHUNXQJ JHWURIIHQ KDWWH 3LpWUL VFKZLHJ ODQJH XQG YHUWLHIWH VLFK LQ VHLQHQ $EVLQWK 6R HLQ 6FKZHLQ GLHVHU /DUULHUGDFKWHHU'LH.DQLVWHULUJHQGZRKLQVFKOHSSHQ]X ODVVHQ DP EHVWHQ YRQ LKP VHOEVW XQG GDQQ HLQHQ XQYHU VFKlPWHQ 3UHLV GDIU ]X YHUODQJHQ *HVWHUQ DEHQG KDWWH GDV JDQ] DQGHUV DXVJHVHKHQ /DUULHU KDWWH DXVGUFNOLFK ]XJHVWLPPW DOV 3LpWUL LKP EHIDKO VHLQHQ (LQIOX JHOWHQG ]X PDFKHQ GD PDQ GDV =HXJ YHUJUDEH (LQ *OFN GD ZHQLJVWHQV GLH .OHLQH ]XU 6WDQJH KLHOW $OOHV ZDV VLH JHVDJWKDWWHPXWHVWLPPHQVFKOLHOLFKZDU/DUULHUQLFKW DXV IUHLHQ 6WFNHQ ]X 'XFKLQ JHJDQJHQ VRQGHUQ DXI DXVGUFNOLFKH :HLVXQJ (V ZlUH P|JOLFK JHZHVHQ GD 'XFKLQ GHP 0lGFKHQ QLFKW JHVDJW KDWWH ZRUEHU HU LQ 6WUHLW JHUDWHQ ZDU NDXP DEHU GD HU GHQ %HVXFK JDQ] YHUVFKZLHJHQKlWWH*HQHYLqYHV%HULFKWZDUIU3LpWULHLQH JXWH.RQWUROOHLKUHU=XYHUOlVVLJNHLW :DVQXQ]XWXQZDUPXWHVLFK3LpWULHUVWUHLIOLFKEHU OHJHQ $OV HUVWHV GXUIWH HU GLH )UDX QLFKW PHUNHQ ODVVHQ ZLH ZLFKWLJ LKP LKUH (UPLWWOXQJHQ ZDUHQ (U ULHI GLH %HGLHQXQJXQG]DKOWH Ä8QG³IUDJWH*HQHYLqYHÄZDVLVWPLWPHLQHP*HOG"³ Ä+|UPDOJXW]XPHLQ.LQGZHQQGXHUUHLFKVWGDGDV =HXJ KLHU YHUJUDEHQ ZLUG VROOVW GX IQIXQG]ZDQ]LJWDX VHQGKDEHQ³ 6LHDQWZRUWHWHÄ*DUQLFKWZHQLJZDV6LHYHUODQJHQ³ Ä(VLVWDXFKJDUQLFKWZHQLJ*HOG³

*HQHYLqYHQLFNWH]XVWLPPHQG'DQQYHUOLHHQVLHQDFK HLQDQGHUGDV&DIH %RQQDUG ZDU PLW 2å&RQQRU ]XIULHGHQ 'HU MXQJH :LV VHQVFKDIWOHU KDWWH LKP HLQH NOHLQH $SSDUDWXU JHEDXW 6LH HQWKLHOW HLQHQ KRFKH[SORVLYHQ 6WRII XQG HLQH )OVVLJNHLW GLH GLHVHQ 6SUHQJVWRII ]XU 'HWRQDWLRQ EUDFKWH VREDOG VLH *HOHJHQKHLW IDQG VLFK PLW LKP ]X YHUELQGHQ 'DV ZUGH EHLVSLHOVZHLVH HLQWUHWHQ ZHQQ GDV 5|KUFKHQ EHL HLQHP KHIWLJHQ 6FKODJ ]HUEUDFK 'DPLW NHLQ 8QJOFN JHVFKHKHQ NRQQWH ZDUHQ HLQLJH 9HU]|JHUXQJHQ HLQJHEDXW 'HU GHU GDV*HKHLPQLVGLHVHV.lVWFKHQVNDQQWHXQGHVYHUVHKHQW OLFKIDOOHQOLHKDWWHQRFKJXWH]HKQ0LQXWHQ=HLWGDYRQ ]XODXIHQ $OVDOOHVIHUWLJZDUO|WHWH%RQQDUGGHQ%OHFKNDVWHQ]X 'HQ+DQGJULIIVWULFKHUZLH]XU9HU]LHUXQJJUQDQ 'DQQVDJWHHU]X2å&RQQRUÄ(LQE|VHV6SLHO]HXJZDV" (V ZLUG XQV VHLQH 'LHQVWH OHLVWHQ VRIHUQ ZLU HV Q|WLJ KDEHQ VROOWHQ +RIIHQWOLFK JHOLQJW HV MHGHP HKUOLFKHQ 0HQVFKHQUHFKW]HLWLJGDYRQ]XODXIHQZHQQGDV.lVWFKHQ LQ$NWLRQWULWW0LW6FKXIWHQVROOHVUXKLJDEUHFKQHQ8QG 6LH2å&RQQRUKDEHQGDV'LQJ QLH JHVHKHQ 9HUVSUHFKHQ 6LHPLUGDV"³ 2å&RQQRU WDW HV HLQJHGHQN GHU HUQVWHQ :RUWH GLH GHU 3URIHVVRUKHXWHIUKDQLKQJHULFKWHWKDWWH ,QGHU=ZLVFKHQ]HLWKDWWHGHU*HOHKUWHVHLQ=LHOHUUHLFKW 1DFKYLHOHQ%HPKXQJHQZDUHVLKPJHOXQJHQGHQ0DUL QHPLQLVWHU]XVSUHFKHQXQGLKQ]XEHZHJHQHLQHP]ZHL WHQ 6FKLII LP +DIHQ YRQ /D 5RFKHOOH 2UGHU ]X JHEHQ HLQHQ6SH]LDOWUDQVSRUWDQ%RUG]XQHKPHQXQGHLOHQGVGLH $QNHU ]X OLFKWHQ 'LHVH 2UGHU QDKP GHU 3URIHVVRU JOHLFK PLW6LHZDUDQGHQ+DIHQNRPPDQGDQWHQJHULFKWHW'LHVHU ZUGHGDVSDVVHQGH6FKLIIKHUDXVVXFKHQ

6RDXVJHVWDWWHWNDPGHU3URIHVVRULQGDV,QVWLWXW(UOLH %RQQDUGVRIRUWUXIHQXQGEHULFKWHWHLKPNXU]5HQpQDKP GDV 3DSLHU XQG OLH GDV YHUVSURFKHQH $XWR YRUIDKUHQ 'DQQEDWHUGHQ3URIHVVRULQGHU=HLWLQGHUHUQDFK,YU\ IDKUHQ XQG VHLQHQ =LPPHUPDQQVWUDQVSRUW VWDUWHQ ODVVHQ ZROOWHPLW/DUULHU]XVSUHFKHQ-HGHQ9RUVFKODJ /DUULHUV GLH .DQLVWHU ]X YHUJUDEHQ VROOWH HU XQWHU %HUXIXQJ DXI HLQHQ5HJLHUXQJVEHIHKOPLW%HGDXHUQDEOHKQHQ+LQJHJHQ VROOWH HU YRUVFKODJHQ GD /DUULHU GHQ 7UDQVSRUW GHV VFKZHUHQ :DVVHUV QDFK (QJODQG EHUQHKPH /DUULHU VHL GHUULFKWLJHNHQQHHUGRFKGLHHQJOLVFKHQ9HUKlOWQLVVHDP

EHVWHQ $XV GHP JOHLFKHQ *UXQGH VROOH 2å&RQQRU 'U /DUULHUEHJOHLWHQ'LH5HLVHPVVHXPQXOO8KUDQJHWUHWHQ ZHUGHQXQGIKUHEHU%RUGHDX[QDFK%ULVWRO 6REDOGVLFK/DUULHUHLQYHUVWDQGHQHUNOlUWKDEHXQG%RQ QDUG ]ZHLIHOWH QLFKW GDUDQ GD MHQHU VLFK HLQYHUVWDQGHQ HUNOlUHQ ZUGH VROOWH GHU 3URIHVVRU GHQ $VVLVWHQWHQ 2å&RQQRU KLQ]XELWWHQ XQG EHLGHQ GLH VWUHQJH $QZHLVXQJ HUWHLOHQ HUVWHQV GHQ NU]HVWHQ :HJ QDFK %RUGHDX[ ]X ZlKOHQ ]ZHLWHQV GLH 6FKLIIV]LPPHUPDQQVZHUNVWDWW LP +DIHQ DXI]XVXFKHQ XP GRUW YRQ HLQHP JHZLVVHQ ePLOH HLQHYHUVLHJHOWHVFKULIWOLFKH2UGHUHQWJHJHQ]XQHKPHQXQG GULWWHQVGLHVH2UGHUH[DNWDXV]XIKUHQ Ä:DVIUHLQH2UGHU"³IUDJWHGHU3URIHVVRU Ä%LWWH XQWHUVFKUHLE³ DQWZRUWHWH 5HQp XQG OHJWH GHP 3URIHVVRUHLQ3DSLHUYRU-HQHUODV Ä$Q GLH +HUUHQ 'U *DVWRQ /DUULHU XQG 'U 7RP 2å&RQQRU ,P+DIHQYRQ%RUGHDX[ZLUG,KQHQGHUhEHUEULQJHUGLH VHV%ULHIHVHLQVHHWFKWLJHV)OREHUJHEHQ$XIGHP)OR EHILQGHQ VLFK EHUHLWV /HEHQVPLWWHO XQG 7ULQNZDVVHU IU YLHU]HKQ 7DJH 6LH KDEHQ GLH ]Z|OI .DQLVWHU JHJHQ MHGHQ 6WXUP XQG 6HHJDQJ VLFKHU DXI GHP )OR ]X EHIHVWLJHQ 'DEHL ZLUG ,KQHQ JHKROIHQ ZHUGHQ 'DV )OR LVW DQ %RUG GHU Ä6W1D]DLUH³ ]X KLHYHQ XQG DXI 'HFN VR ]X EHIHVWL JHQ GD HV OHLFKW LQV :DVVHU JHVWRHQ ZHUGHQ NDQQ ,P )DOOH HLQHV $QJULIIV DXI GLH Ä6W1D]DLUH³ RGHU ZHQQ VLH DXI HLQH 0LQH ODXIHQ VROOWH PX GDV )OR EHU %RUG JH EUDFKW ZHUGHQ XQG 6LH PVVHQ KLQWHUKHUVSULQJHQ 0LW GHP 6FKLII LVW DXI HLQHU :HOOHQOlQJH GLH VWlQGLJ YRQ GHU EULWLVFKHQ 0DULQHIOLHJHUHL DEJHK|UW ZLUG HLQ EHVRQGHUHV 6HHQRWIXQNVLJQDODXVJHPDFKW6LHZHUGHQDOVRJHK|UWXQG DOOHVZLUGJHWDQZHUGHQ,KQHQ]XKHOIHQ

9RQGHUVWULNWHQ%HIROJXQJGLHVHU$QZHLVXQJKlQJWDOOHV DEQLFKW]XOHW]W,KUH(KUH(VOHEH)UDQNUHLFK³ 'HU 3URIHVVRU XQWHUVFKULHE GHQ %ULHI VLHJHOWH LKQ XQG JDE LKQ %RQQDUG 0LW HLQHP NXU]HQ 0HUFL YHUOLH 5HQp GDV+DXV 'U*DVWRQ/DUULHUKDWWHVLFKZLHYRQ%RQQDUGYHUPXWHW ZRUGHQZDURKQH =|JHUQEHUHLWHUNOlUWGHQ7UDQVSRUW]X EHUQHKPHQ QDFKGHP HU JHPHUNW KDWWH GD VHLQ 9RU VFKODJ GLH .DQLVWHU LQ 3DULV ]X YHUJUDEHQ QLFKW GLH JH ULQJVWH *HJHQOLHEH JHIXQGHQ KDWWH (U ZDU VLFKHU 3LpWUL ]XIULHGHQ]XVHKHQZDUGRFKGDV =LHO IDVW HUUHLFKW ZHQQ DXFK DXI HLQH NRPSOL]LHUWHUH :HLVH 3LpWUL ZUGH HLQHQ :HJILQGHQGHUQLFKWLQHLQHPHQJOLVFKHQ+DIHQHQGHWH 'HQ HLQ]LJHQ 6FK|QKHLWVIHKOHU VWHOOWH GLHVHU MXQJH ,UH GDU.HLQDQGHUHUZUGHVRHQHUJLVFKGDUDXIGULQJHQQDFK (QJODQG]XNRPPHQZLHHU(UIXKUQLFKWQXUQDFK+DXVH VRQGHUQ EUDFKWH QRFK GD]X VHLQHQ /DQGVOHXWHQ HLQHQ PlUFKHQKDIWHQ6FKDW]PLWZHQQDOOHVJXWJLQJ,KQDE]X VFKWWHOQZUGHQLFKWOHLFKWVHLQ'DDXFKIHVWJHOHJWZRU GHQ ZDU GD HU GHQ VFKZHUHQ 3HXJHRW OHQNWH ZDU ZHQLJ $XVVLFKW ODQJVDP JHQXJ ]X IDKUHQ XP VLFK YRQ GHU VL FKHUOLFKLPPHUVFKQHOOHUKHUDQUFNHQGHQ)URQWEHUUROOHQ ]XODVVHQ(LQ0DQQZLH2å&RQQRUZUGHVHOEVWZHQQGLH 6WUDHQ DUJ YHUVWRSIW ZDUHQ QLFKW OlQJHU DOV ]ZHL 7DJH EUDXFKHQ XP %RUGHDX[ ]X HUUHLFKHQ %HVWHFKHQ NRQQWH PDQ GHQ -XQJHQ DXFK QLFKW GLH 2å&RQQRU KDWWHQ 0KH GLH=LQVHQLKUHV.DSLWDOV]XYHU]HKUHQ$OOHVLQDOOHP'HU ,UHZDUHLQHUQVW]XQHKPHQGHV+LQGHUQLVPDQZUGHJXW GDUDQWXQIUDOOH)lOOHHLQHQ%URZQLQJPLW]XQHKPHQ 3LpWUL K|UWH VLFK /DUULHUV %HULFKW PLW NUlQNHQGHU *HODV VHQKHLW DQ (U VWHOOWH DXFK NDXP =ZLVFKHQIUDJHQ XQG IRUGHUWH GHQ 'RNWRU QXU DXI VHLQH :RKQXQJ QLFKW ]X

YHUODVVHQELVHU]XUFNNRPPH'DQQYHUDEVFKLHGHWHVLFK GHU0DQQVFKQHOOXQGOLH /DUULHUPLWHLQHPHLJHQDUWLJHQ *HIKOGHU8QVLFKHUKHLW]XUFN,FKZHUGHPLFKHLQ:HLO FKHQ DXIV 2KU OHJHQ GDFKWH /DUULHU GLH 1DFKW ZLUG DQ VWUHQJHQGZHUGHQ 1DFK HWZD GUHL 6WXQGHQ ZDU 3LpWUL ZLHGHU LQ /DUULHUV :RKQXQJ(UVFKLHQMHW]W]XIULHGHQHU]XVHLQ6HLQH1DFK IRUVFKXQJHQ KDWWHQ HUJHEHQ GD GLH Ä6W1D]DLUH³ GDV PRGHUQVWHXQWHUGHQNOHLQHQ)UDFKWVFKLIIHQHLQHU5HHGHUHL ZDUGLHGLH/LQLH%RUGHDX[²/LVVDERQUHJHOPlLJEHIXK UHQ 'HU 'LUHNWRU GHU 5HHGHUHL ZUGH /DUULHU HLQHQ %ULHI EHUJHEHQ GHQ GLHVHU GHP .DSLWlQ GHU Ä6W1D]DLUH³ DXI KRKHU6HHDXVKlQGLJHQVROOWH'HU%ULHIHQWKLHOWGLH2UGHU YRP EHIRKOHQHQ .XUV DE]XZHLFKHQ XQG 6DQWDQGHU DQ]X ODXIHQ 'HU .DSLWlQ ZDU $QJHVWHOOWHU GHU 5HHGHUHL GDV +HPGZUGHLKPZDKUVFKHLQOLFKQlKHUVHLQDOVGHU5RFN :HQQ HV /DUULHU DOVR QLFKW JHOLQJHQ VROOWH GLH .DQLVWHU LUJHQGZR LQ )UDQNUHLFK LQ 6LFKHUKHLW ]X EULQJHQ EOLHE GLHVHU :HJ RIIHQ 'LH 'HXWVFKHQ XQWHUKLHOWHQ ]X +HUUQ )UDQFR EHVWH %H]LHKXQJHQ VLH ZUGHQ VLFK VFKRQ ]X KHOIHQZLVVHQQDFKGHPGLHÄ6W1D]DLUH³DQHLQHPVSDQL VFKHQ.DLIHVWJHPDFKWKlWWH Ä6R GDV ZlUH 1XPPHU HLQV³ IXKU 3LpWUL IRUW Ä'DQQ KDEH LFK QRFK HLQHQ ZHLWHUHQ :XQVFK :LU PVVHQ HLQH MXQJH 'DPH IU HLQH :HLOH YHUVFKZLQGHQ ODVVHQ 6LH ZHUGHQ VLH PLWQHKPHQ 6DJHQ 6LH 2å&RQQRU HV VHL ,KUH %UDXW.HLQH$QJVWVLHLVWVHKUDWWUDNWLYXQGYHUVWHKWDXFK HLQH%UDXWUROOH]XVSLHOHQ³ /DUULHU HUVFKUDN GDV ZDU HLQH XQDQJHQHKPH .RPSOLND WLRQ GHP ,UHQ HLQHQ VROFKHQ %lUHQ DXI]XELQGHQ ZUGH VFKZLHULJVHLQXQGHUVDJWHGDV3LpWUL 3LpWULZLQNWHDE'HU ,UHZHUGH HLQ*HQWOHPDQVHLQ XQG

YHUVWHKHQZHQQVHLQ.ROOHJH /DUULHUHLQHVRVFK|QH )UDX QLFKW LQ GHU 6WDGW ODVVHQ ZROOH LQ GHU GLH 'HXWVFKHQ LQ .U]H DXI -DJG JLQJHQ )U /DUULHU VHL GDV HLQH LGHDOH /|VXQJLQGHU'DPHKDEHHUHLQH*HKLOILQVLHVHLHQVRPLW JHJHQ 2å&RQQRU ]X ]ZHLW 'DV ]X HUUHLFKHQ JLQJH EHU KDXSWQXUPLWHLQHU)UDXHLQHQ0DQQPLWIDKUHQ]XODVVHQ OLHHVLFKGXUFKQLFKWVEHJUQGHQ 'LHVHV$UJXPHQWOHXFKWHWHHLQ/DUULHUIUDJWHLQZLHZHLW GLH'DPHXQWHUULFKWHWVHL3LpWULDQWZRUWHWHGDVLHZLVVH HV KDQGHOH VLFK XP HLQHQ ZLFKWLJHQ 7UDQVSRUW ZHLWHU QLFKWV(VVHLDXFKQLFKWHUZQVFKWGDVLHPHKUHUIDKUH XQG2å&RQQRUZHUGHLKUEHVWLPPWQLFKWVVDJHQ Ä'DQQKDEHLFKQRFKHLQ6SLHO]HXJIU6LHPLWJHEUDFKW 'LH$NWHQPDSSHKLHUHQWKlOWHLQOHLVWXQJVVWDUNHV)XQNJH UlW:HQQHVJDQ]VFKOLPPNRPPWJHEHQ6LHGDUDXIVRRIW XQG VRODQJH HV JHKW R D N GXUFK 'LH :HOOHQOlQJH LVW HLQJHUDVWHW 6LH ZLUG DE PRUJHQ IUK VHFKV 8KU VWlQGLJ EHVHW]W VHLQ 6LH ZHUGHQ VHKHQ ZLH VFKQHOO 6LH DQJHSHLOW VHLQ ZHUGHQ XQG ZHOFKH ZLUNVDPH +LOIH VLH GDPLW DXVO| VHQ³ 0LWGLHVHQ:RUWHQYHUDEVFKLHGHWHVLFK3LpWUL(UZDUPLW VLFK HLQLJHUPDHQ ]XIULHGHQ KDWWH HU GRFK JHWDQ ZDV HU NRQQWHXPGHP,QVWLWXWEH]LHKXQJVZHLVHGHQ(QJOlQGHUQ GHQ ZLFKWLJHQ 5RKVWRII DE]XMDJHQ XQG JOHLFK]HLWLJ /DUUL HUV 'RSSHOVSLHO ]X GXUFKNUHX]HQ 'HU 'RNWRU ZUGH GDV QRFKVHKUEHUHXHQ *HQHYLqYHEHUOHJWHQXU]XP6FKHLQHLQHNXU]H=HLWDOV 3LpWULVLHDXIIRUGHUWH/DUULHUDXIVHLQHU5HLVH]XEHJOHLWHQ $OOHUGLQJV YHUODQJWH VLH HLQHQ 6FKHFN EHU ]HKQWDXVHQG )UDQFVDOV$Q]DKOXQJ(VNDPLKUGDUDXIDQEHL3LpWULGHQ (LQGUXFNHLQHUGXUFKWULHEHQHQDXI*HOGYHUVHVVHQHQ)UDX ]X PDFKHQ .QXUUHQG IJWH VLFK 3LpWUL LKP EOLHE NHLQH

DQGHUH:DKO'HU$EHQGZDUDQJHEURFKHQLQNQDSSVHFKV 6WXQGHQ VROOWH GLH 0LFKDXG DQ GHU 0HWURVWDWLRQ 4XDL Gå$XVWHUOLW] LQ GHQ GXQNHOJUQHQ 3HXJHRW VWHLJHQ 'U /DUULHU NVVHQ XQG ]X 0LVWHU 2å&RQQRU YHUVFKlPWDUWLJ JXWHQ$EHQGVDJHQ *HQHYLqYH YHUVSUDFK GDV DOOHV 3LpWUL ZQVFKWH LKU HLQH JXWH5HLVHXQGJLQJ6LHZDUWHWHHLQH:HLOHGDQQULHIVLH 'XFKLQDQ'HUMXQJH0DQQVDYROOELWWHUHU*HGDQNHQLQ VHLQHU :RKQXQJ (UVW DQ GLHVHP 7DJ ZDU LKP EHZXW JHZRUGHQZLHWHXHULKP*HQHYLqYHJHZHVHQZDU $OVLKPLKUH6WLPPHDXVGHP+|UHUHQWJHJHQNODQJEH PKWHHUVLFKK|IOLFK]XDQWZRUWHQ(VJLQJMHW]WQLFKWXP SHUV|QOLFKH 'LQJH HV ZDU NHLQH =HLW IU EHOHLGLJWH *H IKOH 'HU 3URIHVVRU KDWWH VLFK IU HLQH =XVDPPHQDUEHLW PLW GLHVHU )UDX HQWVFKLHGHQ GHP PXWH VLFK VHLQ $VVL VWHQWIJHQ *HQHYLqYH WDW /XFLHQV NKOH 6WLPPH ZHK DEHU VLH VFKOXFNWHHVWDSIHUKLQXQWHU'HU)UHXQGKDWWHUHFKWZHQQ VLH DXFK DOOHV WDW XP LKUH DQIlQJOLFK QLHGHUWUlFKWLJH +DQGOXQJVZHLVH ZLHGHUJXW]XPDFKHQ :LH JHUQ KlWWH VLH GHQ *HOLHEWHQ YRU LKUHU )DKUW QRFK HLQPDO JHVHKHQ DEHU VLH YHU]LFKWHWH GDUDXI :RP|JOLFK OLH 3LpWUL VLH XQG /X FLHQ EHUZDFKHQ 6R EDW VLH /XFLHQ 0RQVLHXU 5 DXV]X ULFKWHQHUP|JHXPHLQXQG]ZDQ]LJ8KU (FNH $YHQXH GH 0DLQH XQG 5XH 9HUFLQJpWRUL[ VHLQ 'XFKLQ YHUVSUDFK LKUHQ:XQVFK]XHUIOOHQ *HQHYLqYHYHUOLHGDV+DXV]HLWLJJHQXJXPHLQHQODQ JHQ 8PZHJ QDFK 0RQWSDUQDVVH PDFKHQ ]X N|QQHQ 6LH IXKUPLWGHU0HWURNUHX]XQGTXHUELVVLHJDQ]VLFKHUZDU MHGHQ P|JOLFKHQ 9HUIROJHU DEJHVFKWWHOW ]X KDEHQ 5HQp HUZDUWHWHVLHVFKRQ6LHVXFKWHQHLQEHVFKHLGHQHV5HVWDX UDQWDXILQGHPHVVLFKXQJHVW|UWVSUHFKHQOLH5HQpZDU

DQJHQHKP EHUUDVFKW YRQ GHU :HQGXQJ GLH GLH 'LQJH JHQRPPHQ KDWWHQ /DUULHU ZDU HQWODUYW :HQQ HV QXU XP LKQJLQJHKlWWHPDQ]XIDVVHQN|QQHQ'DVDEHUZUGHGLH .UHDWXUHQ QLFKW DEKDOWHQ QDFK GHP VFKZHUHQ :DVVHU ]X MDJHQ (V ZDU EHVVHU ZHQQ VLH HV LQ GHQ +lQGHQ HLQHV LKUHU VFKPXW]LJHQ +HOIHUVKHOIHU ZlKQWHQ GDV ZUGH GHP ZLUNOLFKHQ 7UDQVSRUW HQGJOWLJ GHQ 5FNHQ IUHL KDOWHQ (LQH DQGHUH 6DFKH ZDU GHU %HVFKOX GLHVHV 3LpWUL *HQH YLqYH PLW DXI GLH 5HLVH ]X VFKLFNHQ 'DV ZUGH YLHO 0XW XQG8PVLFKWYRQLKUHUIRUGHUQ*HQHYLqYHQLFNWHQXU 5HQp VHXI]WH WLHI DXI -HW]W PXWH HU GLHVHU )UDX JDQ] YHUWUDXHQXQGDOOH.DUWHQDXIGHQ7LVFKOHJHQ(LQHU)UDX YRQGHUHUIDVWQLFKWVZXWHXQGGLHHUXQWHUGHQEHGHQN OLFKVWHQ 8PVWlQGHQ NHQQHQJHOHUQW KDWWH $EHU HV EOLHE LKPNHLQHDQGHUH0|JOLFKNHLW (UHU]lKOWHLKUYRQePLOHGHVVHQ=LPPHUOHXWHQXQGYRQ GHP)OR6WRFNHQGEHULFKWHWHHUGDQQ YRQ GHP $SSDUDW GHQ HU PLW 2å&RQQRU JHEDXW KDWWH 'LHVHU .DVWHQ VROOWH 'XFKLQ PLWJHJHEHQ ZHUGHQ GDPLW HU LKQ LQ K|FKVWHU 1RW GD]X EHQXW]HQ N|QQH GDV VFKZHUH :DVVHU ]X YHUQLFKWHQ 1DFKGHP GLH $XIPHUNVDPNHLW GHU )DVFKLVWHQ QXQ VR JQVWLJ DEJHOHQNW ZRUGHQ ZDU ZUGH HLQH VROFKH *HIDKU QLFKW PHKU EHVWHKHQ 6R NDP 5HQp GHU *HGDQNH GLHVH JHIlKUOLFKH 0DVFKLQH GHP 0lGFKHQ PLW]XJHEHQ 6LH N|QQH GDPLW LQ JHZLVVHQ 6LWXDWLRQHQ JDQ] HQWVFKHLGHQG HLQJUHLIHQ*DEHVGDIUNHLQHQ$QODXPVREHVVHU *HQHYLqYH NRQQWH HLQHQ OHLFKWHQ 6FKUHFN QLFKW YHUEHU JHQDOVLKU%RQQDUGGLH+DQGKDEXQJGHV.RIIHUVHUNOlUWH 'HQQRFK HQWVFKOR VLH VLFK GHQ $SSDUDW PLW]XQHKPHQ 6LHYHUOLHHQGDV/RNDO*HQHYLqYHZDUWHWHHLQLJH6WUDHQ ZHLWHULQHLQHP&DIH5HQpIXKUPLWGHU7D[HLQV,QVWLWXW XPGHQ.RIIHU]XKROHQ

)UGLH)UDXZXUGHHVGDQDFKK|FKVWH =HLWQDFK+DXVH ]X IDKUHQ XP VLFK DXI GLH 5HLVH YRU]XEHUHLWHQ 5HQp GUFNWH LKU EHLP $EVFKLHG IHVW GLH +DQG Ä,FK ZHUGH /XFLHQ 'XFKLQ VDJHQ GD *HQHYLqYH 0LFKDXG HLQH WDS IHUH )UDX HLQH WUHXH 7RFKWHU )UDQNUHLFKV XQG HLQ JXWHU 0HQVFKLVW³ 3O|W]OLFK ILHO *HQHYLqYH GHU 6FKHFN HLQ 6LH KDWWH LKQ VFKRQNXU]HUZlKQW Ä'HU6FKHFNJHK|UW,KQHQ0DGHPRLVHOOH³VDJWH5HQp *HQHYLqYHVDKLKQXQZLOOLJDQÄ1HKPHQ6LHLKQ³VWLH VLHKHIWLJKHUYRU 5HQp VWHFNWH GDV ZHUWYROOH 3DSLHU HLQ *HOG ZUGHQ VLH LQ GHU QlFKVWHQ =HLW JHEUDXFKHQ N|QQHQ DXHUGHP ZDU DXI GHU %DQN YLHOOHLFKW HWZDV EHU GLH .RQWRLQKDEHU ]X HUIDKUHQ

%RQQDUGHLOWH]XP,QVWLWXW]XUFN(UHUVWDWWHWHGHP3UR IHVVRU %HULFKWXQG EDW LKQ GULQJHQG GLH HNHOKDIWH .RP| GLH PLW /DUULHU JXW ]X (QGH ]X VSLHOHQ (U DKQWH ZLH VFKZHUHVGHPJUDGOLQLJHQ*HOHKUWHQIDOOHQZUGHGLHVHP 0HQVFKHQ]XP$EVFKLHGIUHXQGOLFKGLH+DQG]XGUFNHQ 'DQQYHUVFKZDQG5HQp .XU]H =HLW VSlWHU HUVFKLHQ 2å&RQQRU UHLVHIHUWLJ LKP IROJWHIDVWDXIGHP)XH/DUULHU 'HU*HOHKUWHULFKWHWHVWHKHQGDQGLHEHLGHQ0lQQHUHLQH NXU]H ZUGLJH 5HGH (U EHJOFNZQVFKWH VLH DXVHUZlKOW ]XVHLQGHU)UHLKHLWHLQHQJURHQ'LHQVWOHLVWHQ]XGUIHQ XQG ZQVFKWH LKQHQ YROOHV *HOLQJHQ Ä1DFK GHP .ULHJ QDFKGHP6LHJHVHKHQZLUXQVZLHGHU³VFKORHU 3QNWOLFK UROOWH GHU VFKZHUH 5HLVHZDJHQ GXUFK GDV 7RU GHV,QVWLWXWV5HQpKDWWHDQJHZLHVHQGDLKQDOOH3I|UWQHU XQG:lFKWHUYHUDEVFKLHGHWHQ(VZDULKPDQYLHOHQ =HX

JHQ JHOHJHQ DXHUGHP NRQQWH HU VHOEVW XQDXIIlOOLJ YHU ERUJHQ LQ GHU 0HQJH GLHVHQ 'U /DUULHU VHKHQ VLFK GDV *HVLFKWGHVYHUKDWHQ)HLQGHVHLQSUlJHQ

2å&RQQRU KLHOW GDV /HQNUDG PLW OlVVLJHU +DQG (U ZDU YHUJQJW OLHEWH HU GRFK $EHQWHXHU XQG HV JLQJ GHU +HL PDW]X$OVVLHIQI0LQXWHQJHIDKUHQZDUHQUFNWH /DU ULHU %HNOHPPXQJHQ QLFKW QXU YRUWlXVFKHQG PLW VHLQHP $QOLHJHQKHUDXV 2å&RQQRUZDUYHUEOIIWÄ6LHKDEHQHLQH%UDXW"³ /DUULHUQLFNWHÄ,FKEULQJHHVQLFKWEHUV+HU]VLHKLHU ]XODVVHQ'HU.ULHJNDQQ-DKUHGDXHUQ³ 2å&RQQRU KDWWH (LQZlQGH HU PHLQWH HV ZlUH EHVVHU JHZHVHQ PLW GHP &KHI GDUEHU ]X VSUHFKHQ /DUULHU DQWZRUWHWHVHXI]HQGHUKDEHGDVQLFKWJHZDJW'HU3URIHV VRU KDOWH VHOEVW VWUHQJ GLHQVWOLFKH XQG SHUV|QOLFKH 'LQJH DXVHLQDQGHU 2å&RQQRUEHUOHJWH(LQH3HUVRQKDWWHVFKRQQRFK3ODW] XQG HLQ *HQWOHPDQ OlW NHLQH /DG\ LP 6WLFK 'DV *DQ]H ZDU HLQ ULFKWLJHU -XQJHQVWUHLFK GHQ HU GHP EURNUDWLVFK JODWWHQ/DUULHUHLJHQWOLFKJDUQLFKW]XJHWUDXWKlWWH$XHU GHP WUXJ GHU )UDQ]RVH GLH 9HUDQWZRUWXQJ HU ZDU GHU 7UDQVSRUWIKUHU (U ERJ QDFK OLQNV DE ]XP 4XDL Gå$XVWHUOLW] *HQHYLqYHZDUWHWHVFKRQ$OVGHU:DJHQDQGDV7URWWRLU KHUDQIXKU WUDW VLH VFKQHOO KLQ]X |IIQHWH GHQ 6FKODJ XQG IOVWHUWH Ä*DVWRQ PHLQ /LHEHU³ 'LH 0lQQHU VSUDQJHQ KHUDXV /DUULHU VWHOOWH *HQHYLqYH VHLQHQ )UHXQG 7RP YRU %HLGHZDUHQYHUEOIIWEHUGLHVFK|QH5HLVHJHIlKUWLQDEHU QXU 2å&RQQRU OLH HV VLFK PHUNHQ 6HKU ]XIULHGHQ ZDU HU PLW GHP JHULQJHQ 5HLVHJHSlFN GHU 0DGHPRLVHOOH =ZHL NOHLQH.|IIHUFKHQZUGHPDQVFKRQQRFKXQWHUEULQJHQ(U

|IIQHWH GHQ KLQWHUHQ :DJHQVFKODJ XQG EDW *HQHYLqYH HLQ]XVWHLJHQ6LHQDKP3ODW]XQGZLQNWHDEDOVVLFK7RP XPLKUHQ]ZHLWHQ.RIIHUEHPKHQZROOWH'DV.|IIHUFKHQ N|QQHVLHEHTXHPDXIGHP6FKRKDOWHQ .XU]H=HLWVSlWHUMDJWHGHU:DJHQGLHIUKHUVRSUlFKWLJ HUKHOOWHMHW]WYHUGXQNHOWH$YHQXHGH&KRLV\KLQXQWHUGHU $XVIDOOVWUDHQDFK2UOHDQVHQWJHJHQ -HPHKUVLH VLFK GHP 6WDGWUDQG QlKHUWHQ XP VR GLFKWHU ZXUGHGHU9HUNHKU$XVGHQ =XIDKUWVVWUDHQUROOWHQ )DKU ]HXJH DOOHU $UW KHUDQ VR GD EDOG HLQ EUHLWHU $XWRVWURP VGZlUWVIOR'DHVVRJXWZLHNHLQHQ*HJHQYHUNHKUJDE ZDU GDV 7HPSR QRFK HLQLJHUPDHQ ZHQQ 2å&RQQRU PLW VHLQHQ KXQGHUWYLHU]LJ 36 XQWHU GHU 0RWRUKDXEH DXFK QLFKWVDQIDQJHQNRQQWH6RRIWHVQXUJLQJVFKRGHU3HX JHRW DXV GHU 5HLKH KHUYRU PXWH VLFK DEHU EDOG ZLHGHU XQZLOOLJLQLUJHQGHLQH/FNHTXHWVFKHQ'HP,UHQPDFKWH GLHVHU 6SRUW 6SD *HQHYLqYH DEHU ZDU EHWUEW VR YLHOH 0HQVFKHQDXV3DULVIOLHKHQ]XVHKHQ'DEHLLVWGDVHUVWGHU $QIDQJGDFKWHVLHZLHPDJHV]ZHLGUHL7DJHVSlWHUDXI GLHVHU6WUDHDXVVHKHQ" /DUULHU ILQJ DQ EHU GDV XQJHQJHQGH 7HPSR ]X PDX OHQ(UIUDJWHREHVYLHOOHLFKWUDWVDPVHLGLH+DXSWVWUDH ]XYHUODVVHQ:HLWHU|VWOLFKPHLQWHHUPVVHHVGRFKDXFK YHUQQIWLJH 6WUDHQ JHEHQ DXI GHQHQ PDQ VLFKHUOLFK VFKQHOOHUYRUZlUWVNRPPH Ä:LHVR|VWOLFK"³IUDJWH2å&RQQRU /DUULHU EHHLOWH VLFK ]X HUNOlUHQ HU ZLVVH GD %RUGHDX[ LP 6GZHVWHQ OLHJH DEHU JHUDGH GHVKDE VHL HU IU HLQHQ |VWOLFKHUJHOHJHQHQ:HJ1DFK6GZHVWHQIKUWHQDOOH *HQHYLqYHODXVFKWHGHU8QWHUKDOWXQJJHVSDQQW6LHHUULHW /DUULHUV $EVLFKW OHLFKW 'LH 'HXWVFKHQ KDWWHQ EHL 6HGDQ GLH )URQW GXUFKEURFKHQ 6LH ZUGHQ IDOOV PDQ VLH QLFKW

DXIKLHOWDXIGHPNU]HVWHQ:HJHQDFK6GHQVWRHQXP 3DULV ]X XPNODPPHUQ 'DV ZDU JHQDX GLH 5LFKWXQJ GHU /DUULHU]XVWUHEHQZROOWH 2å&RQQRU QDKP GLH 6KDJSIHLIH DXV GHP 0XQG Ä'HU &KHIKDWXQV HLQJHVFKlUIW GHQ NU]HVWHQ :HJ ]X ZlKOHQ GLH +DXSWVWUDH QLFKW ]X YHUODVVHQ³ EUXPPWH HU /DUULHU YHUVXFKWH LKP NODU]XPDFKHQ GDPLW N|QQH GRFK QXU GHU VFKQHOOVWH :HJ JHPHLQW VHLQ Ä,FK YHUVWHKH³ VDJWH 2å&RQQRU XQG WUDW DXI GDV *DVSHGDO 6HLQ (KUJHL] ZDU HUZDFKW QXQ ZROOWH HU GHP IUDQ]|VLVFKHQ .ROOHJHQ ]HL JHQ ZLH HLQ HQJOLVFKHU 6SRUWVPDQQ GDV /HQNUDG EH KHUUVFKW 0LW HLQHP JHZDOWLJHQ 6DW] VSUDQJ GHU :DJHQ YRUZlUWV /DUULHU ZXUGH HV DQJVW XQG EDQJH 'LHVHU YHU UFNWH ,UH ZUGH LQ ZHQLJHQ 0LQXWHQ DXI LUJHQGHLQ +LQ GHUQLV SUDOOHQ 2IW SUHVFKWH HU QXU PLW =HQWLPHWHUDEVWDQG DQGHQ)DKU]HXJHQYRUEHLGLHJHULQJVWHQ/FNHQQXW]HQG GLHVLFKLUJHQGZLHERWHQ /DUULHU VHXI]WH DXI 0LW GLHVHP VW|UULVFKHQ (VHO ZDU LP 0RPHQW QLFKWV DQ]XIDQJHQ MHW]W NRQQWH PDQ QXU GDV %HVWHKRIIHQ(UJHEHQOHKQWHHUVLFK]XUFNXQGYHUVXFKWH GLH $XJHQ ]X VFKOLHHQ XP YRQ GHU KDOVEUHFKHULVFKHQ )DKUWQLFKWV]XVHKHQ$EHUGHUVFKOLQJHUQGHKHXOHQGHRIW UXFNDUWLJJHEUHPVWH:DJHQUL/DUULHULPPHUZLHGHUKRFK XQG]ZDQJLKQPLWVFKUHFNJHZHLWHWHQ$XJHQDXIGLHYRQ URWHQ 6FKOXOLFKWHUQ EHUVlWH XQWHU LKQHQ GDKLQIOLHJHQGH 6WUDH]XVWDUUHQ 2å&RQQRUVFKDXWHDXIGLH8KU(VZDUGUHL8KUPRUJHQV 8QWHU QRUPDOHQ 8PVWlQGHQ PWHQ VLH LQ 2UOHDQV VHLQ DEHU VLH ZDUHQ HUVW HLQ 6WFN EHU eWDPSHV KLQDXV (U KDWWHVLFKYRUJHQRPPHQGLH6WUHFNH3DULV²%RUGHDX[LP 1RQVWRS]XIDKUHQ ZHQQ DEHU DXV ]HKQ ]ZDQ]LJ 6WXQGHQ ZUGHQ PXWH GDV HLQH WFKWLJH 6WUDSD]H ZHUGHQ 7URW]

GHPEHDEVLFKWLJWHHUDXHUHLQHPNXU]HQ$XIHQWKDOW]XP 7DQNHQNHLQH3DXVHHLQ]XOHJHQ 6LH HUUHLFKWHQ 2UOHDQV +LHU KDWWH VLFK GHU 9HUNHKU ]X HLQHP GLFKWHQ .QRWHQ JHVFKU]W GLH 3ROL]HL NRQWUROOLHUWH DOOH)DKU]HXJH'DVGDXHUWHVHLQH=HLW2å&RQQRUHPSIDKO /DUULHU ELV ]XU 6SHUUH YRU]XJHKHQ XQG HLQH EHYRU]XJWH $EIHUWLJXQJ GXUFK]XVHW]HQ /DUULHU EHUOHJWH :HQQ HU MHW]WDXVVWLHJHXQGGDQQÄYHUVHKHQWOLFK³GHQ:DJHQ QLFKW ZLHGHUIlQGH N|QQWH HU HLQHQ $XIHQWKDOW YRQ ]ZHL GUHL 6WXQGHQ HU]ZLQJHQ 2KQH LKQ ZUGH 2å&RQQRU QLFKW DEIDKUHQ6RHUNOlUWHHUVLFKEHUHLW

Ä,FKJHKHPLWPHLQ /LHEHU³IO|WHWH*HQHYLqYH]lUWOLFK /DUULHU EL VLFK DXI GLH /LSSHQ 1DWUOLFK GLHVH 'DPH ZROOWH GLH HUVWH *HOHJHQKHLW EHQXW]HQ XP VLFK PLW LKP XQWHU YLHU $XJHQ DXV]XVSUHFKHQ 'DJHJHQ ZDU JDU QLFKWV ]XVDJHQZHQQHVDXFKQLFKWVRQGHUOLFKDQJHQHKPZDU

6LHGUlQJWHQVLFKPLW0KHGXUFKGHQHQGORVHQ:DJHQ VWDX KLQGXUFK /DUULHU HQWGHFNWH DQ HLQHU +lXVHUIURQW HLQHQ /DXEHQJDQJ XQG VWHXHUWH GDUDXI ]X +LHU ZDUHQ ZHQLJ 0HQVFKHQ /DUULHU EOLHE VWHKHQ Ä,FK GHQNH ZLU KDEHQ XQV HLQLJHV ]X VDJHQ 0DGHPRLVHOOH³ EHJDQQ HU *HQHYLqYHQLFNWHXQGVFKZLHJ Ä=XHUVW³ IXKU /DUULHU IRUW ÄGLH $UW XQVHUHV 8PJDQJV 'DVWUDXOLFKH'XZLUGQLFKW]XXPJHKHQVHLQLFKELWWHGDV ]XYHUVWHKHQHVZlUHDQGHUVXQQDWUOLFK³ *HQHYLqYHQLFNWHZLHGHU6LHKDWWHQLFKWGLH$EVLFKW]X GLHVHU $XVVSUDFKH YLHO EHL]XWUDJHQ ZRKO DEHU GHQ :XQVFK YLHO ]X K|UHQ Ä'X PXW ZLVVHQ³ VDJWH /DUULHU ÄGD ZLU PLW GLHVHP ,UHQ QLFKW UHFKQHQ N|QQHQ ² RGHU DXFK UHFKQHQ PVVHQ JDQ] ZLH GX ZLOOVW (LQH 1LHGHU WUDFKWDXVJHUHFKQHWGHQPLW]XVFKLFNHQ'LHVHU%XOOHZLUG VLFK QLFKW DXIKDOWHQ ODVVHQ :LU PVVHQ EHIUFKWHQ VFKQHOOHU LQ %RUGHDX[ DQ]XNRPPHQ DOV XQV OLHE LVW 6R WFKWLJVLQGVHOEVWGLH3DQ]HUWUXSSHQGHV+HUUQYRQ.OHLVW QLFKW GD VLH HLQHQ 2å&RQQRU HLQKROHQ ,FK VHKH XQV VFKRQKHXWHDEHQGDXIGHP6FKLII³ Ä1DXQG"³ZDUI*HQHYLqYHHLQ Ä1DXQG"³JDE/DUULHUPLODXQLJ]XUFNÄ(VLVW.ULHJ :LVVHQ ZLU JHQDX RE GHU .DSLWlQ GHU 6W1D]DLUHå GLH 5HHGHUHLRUGHUEHIROJWXQG6DQWDQGHUDQVWHXHUW ZHQQ LKP +DIHQNRPPDQGDQW XQG 0DULQHPLQLVWHULXP %ULVWRO EHIRK OHQKDEHQ"³ *HQHYLqYH YHUEDUJ PKVDP LKUHQ 6FKUHFN (LQ *OFN GD HV QRFK IDVW GXQNHO ZDU 6DWDQGHU ZDU DOVR GDV =LHO 6LH OlFKHOWH YHUNUDPSIW ZLH HV LKU VHOEVW VFKLHQ Ä%HL XQVHUHQ *HVFKlIWHQ GDUI PDQ QLFKW DXV ODXWHU %HGHQNHQ EHVWHKHQ³ /DUULHU EHUUDVFKWH GLHVH NDOWEOWLJ ZLUNHQGH $QWZRUWDQJHQHKP

Ä:ROOHQZLUGHQ,UHQQLFKWHLQSDDU6WXQGHQZDUWHQODV VHQ" ,FK PHLQH EHL GHP *HZKO IlOOW GDV JDU QLFKW DXI³ PHLQWHHUK|KQLVFK Ä'HQ" 'HU LVW LPVWDQGH XQG IlKUW RKQH XQV ZHLWHU ,FK ZUGH LKQ EHUKDXSW QLFKW DXV GHQ $XJHQ ODVVHQ³ DQW ZRUWHWH*HQHYLqYH /DUULHU QLFNWH QDFKGHQNOLFK 'LH .OHLQH KDWWH YLHOOHLFKW UHFKW(QWVHW]OLFKGHU*HGDQNHVLHVWQGHQLUJHQGZRXQG 2å&RQQRU HUUHLFKWH PLW GHU NRVWEDUHQ )UDFKW %RUGHDX[ 'D MHQHU GLH 3DSLHUH QLFKW KDWWH ² GX OLHEHU *RWW ]ZL VFKHQGHP+DIHQNRPPDQGDQWHQXQGGHP0DULQHPLQLVWHU JDEHVVLFKHUOLFKHLQH7HOHIRQYHUELQGXQJ6RKDWWH/DUULHU HVSO|W]OLFKHLOLJ 'HUGLHQVWKDEHQGH3ROL]HLRIIL]LHUZDU YRQ HLQHU GLFKWHQ 0HQVFKHQWUDXEH XPULQJW $OOH JODXEWHQ HLQHQ *UXQG ]X KDEHQ EHYRU]XJW DEJHIHUWLJW ]X ZHUGHQ DOOH VFKZHQNWHQ PLW ZLOGHQ *HVWHQ LUJHQGZHOFKH 3DSLHUH LQ GHU /XIW 'HU /HXWQDQWEHKLHOWGLHHUIRUGHUOLFKH5XKHÄ:LFKWLJLVWZDV )UDQNUHLFK QW]W DXV 3DULV ]X IOLHKHQ LVW QLFKW ZLFKWLJ³ VDJWHHUHLQEHUVDQGHUH0DOPLWVS|WWLVFKHP/lFKHOQ /DUULHUXQG*HQHYLqYHVDKHQVLFKDQ%HLGLHVHP0DQQ GDFKWH *HQHYLqYH EHL GLHVHP 7|OSHO GDFKWH /DUULHU ZUGHQVLHVFKQHOODEJHIHUWLJWZHUGHQ Ä'UlQJHQ6LHVLFKGXUFK³VDJWH*HQHYLqYH Ä'UlQJ GLFK GXUFK KHLW GDV³ YHUEHVVHUWH VLH /DUULHU 'DQQ YHUVXFKWH HU GHQ 0HQVFKHQZDOO ]X GXUFKEUHFKHQ *HQHYLqYH EHPHUNWH GD HU HV QXU PLW KDOEHU .UDIW WDW 'HU *HGDQNH NDP LKU VLFK VHOEVW ]X GHP 3ROL]HLRIIL]LHU GXUFK]XVFKODJHQ 'DV VFKLHQ HLQ HFKWHU )UDQ]RVH ]X VHLQ :HQQ VLH LKP HUNOlUHQ N|QQWH ZRUXP HV JLQJ ZUGH HU /DUULHU EHVWLPPW LQ HLQ VLFKHUHV /RFK VSHUUHQ (KH 3LpWUL GDYRQ :LQG EHNlPH ZlUH GLH Ä6W1D]DLUH³ PLW 2å&RQ

QRU XQG VHLQHP *HSlFN OlQJVW LQ %ULVWRO ,P VHOEHQ $X JHQEOLFNPXWHVLHEHUVLFKVHOEVWOlFKHUQ'DVLVWMDDOOHV 8QVLQQ GDFKWH VLH 6DQWDQGHU 6DQWDQGHU LVW JHQDX GHU ULFKWLJH +DIHQ (LQ ]ZHL 7DJH ZUGHQ GLH 'HXWVFKHQ PLQGHVWHQV EUDXFKHQ XP PLW GHQ VSDQLVFKHQ )DVFKLVWHQ GLHhEHUJDEHGHU.DQLVWHUDXV]XKDQGHOQ(LQHQ7DJZUGH GHU 7UDQVSRUW QDFK 'HXWVFKODQG GDXHUQ GD KLHH YRU GUHL 7DJHQ ZUGHQ GLH 'HXWVFKHQ QLFKW ZLVVHQ GD VLH HLQKXQGHUWIQIXQGDFKW]LJ /LWHU KDUPORVHV 3DULVHU /HL WXQJVZDVVHU JHMDJW XQG HUEHXWHW KDWWHQ LQ GLHVHQ GUHL 7DJHQ ZlUH /XFLHQ PLW VHLQHU )UDFKW OlQJVW LQ (QJODQG 8QWHU GLHVHP *HVLFKWVSXQNW ZDU HV JDU QLFKW VR ZLFKWLJ RE VLH GHU EUDYH /HXWQDQW VFKQHOOHU SDVVLHUHQ OLH RGHU QLFKW6ROOWHVLFK/DUULHU]XP6FKHLQEHPKHQVLHZDUWHWH DP5DQGHGHV0HQVFKHQNQlXHOVELVHU]XUFNNDPXP]X EHULFKWHQPLWGHP0DQQN|QQHQLHPDQGUHGHQ $OV VLH PLW /DUULHU ]X 2å&RQQRU ]XUFNOLHI ZDU VLH LQ WLHIVWHU 6HHOH JOFNOLFK EHU 5HQp %RQQDUGV 6FKDUIVLQQ EHU GHQ 5HLQIDOO GHQ GLH 9HUUlWHU XP 3LpWUL XQG /DUULHU HUOHEHQZUGHQ 2å&RQQRUZDUZHQLJHU]XIULHGHQ(UVDJWHQLFKWYLHOXQG QDKP VLFK YRU GLH =ZDQJVSDXVH GXUFK VHLQH )DKUNXQVW ZHLWJHKHQG ZHWW]XPDFKHQ *HQHYLqYHV VWUDKOHQGH /DXQH EHVlQIWLJWH LKQ UDVFK .RPLVFK GD GLH IDGHVWHQ 0lQQHU LPPHUGLHWROOVWHQ)UDXHQKDEHQGDFKWHHU =ZHL 6WXQGHQ VSlWHU UROOWH GHU 3HXJHRW DXI GHU 6WUDH QDFK7RXUV ,QGHU6WDGW JDE HV QXU HLQHQ NXU]HQ $XIHQW KDOW'HU9HUNHKUZDUHWZDVDEJHIODXWXQGHVJLQJEDOGLQ 5LFKWXQJ3RLWLHUVZHLWHU

.XU]YRU3RLWLHUVHUHLJQHWHVLFKGDV8QJOFN2å&RQQRU ZROOWH HLQHU HQWJHJHQNRPPHQGHQ .RORQQH YRQ 0LOLWlU

IDKU]HXJHQDXVZHLFKHQ'HU6WUDHQJUDEHQZDUVHKUIODFK 2å&RQQRUEHUTXHUWHLKQXQGIXKUHLQ6WFNDXIGHP)HOG HQWODQJ $OV HU GLH 6WUDH ZLHGHUJHZLQQHQ ZROOWH JDE HV HLQHQ KlOLFKHQ .UDW]HU (U WDW 2å&RQQRU IDVW N|USHUOLFK ZHKGDDEHUGLH0DVFKLQHXQEHLUUWZHLWHUOLHIHUUHLFKWHHU QRFK GHQ 6WDGWUDQG YRQ 3RLWLHUV 'RUW EOLHE GHU 0RWRU VWHKHQ GLH .UDIWVWRII]XIXKU KDWWH DXVJHVHW]W 2å&RQQRU ZXWH VRIRUW ZDV ORV ZDU 'DV %HQ]LQ NRQQWH QLFKW YHU EUDXFKWGHU7DQNPXWHOHFNVHLQ 6LH VWDQGHQ YRU HLQHU PlFKWLJHQ GVWHUHQ 0DXHU 'D KLQWHU UDJWHQ JUDXH *HElXGH PLW YHUJLWWHUWHQ )HQVWHUQ KHUYRU 2å&RQQRU NDP HLQ JXWHU *HGDQNH ,Q GLHVHP 6WDDWVJHIlQJQLV PXWHQ GLH .DQLVWHU EHVWHQV DXIJHKREHQ VHLQ VRODQJH GHU %HQ]LQWDQN UHSDULHUW ZXUGH (U IRUGHUWH /DUULHU DXI PLW GHP $QVWDOWVGLUHNWRU ]X YHUKDQGHOQ /DU ULHUNOHWWHUWHDXVGHP:DJHQ*HQHYLqYHIROJWHLKPVRIRUW 'HU*HIlQJQLVGLUHNWRU+HQUL*HPLHUVDKGLHEHLGHQ%LWW VWHOOHU PLW HLQHP VFKUlJHQ %OLFN DQ ,KUH 3DSLHUH ZDUHQ HFKW XQG YRQ *HZLFKW HU ZDU DOV 6WDDWVEHDPWHU YHU SIOLFKWHWLKQHQ]XKHOIHQ1XUKlWWHHUJDU]XJHUQJHZXW ZDV VLH VR :LFKWLJHV ]X WUDQVSRUWLHUHQ KDWWHQ GD VLH QXU GDV*HIlQJQLVDOVJHHLJQHWHQ$XIEHZDKUXQJVRUWDQVDKHQ 6LFKHUOLFK ZDUHQ GLH 'HXWVFKHQ GHP 0DWHULDO DXI GHU 6SXU 9RP HUVWHQ $XJHQEOLFN DQ VSLHOWH *HPLHU PLW GHP *HGDQNHQ 'U /DUULHU GLHVH %HXWH DE]XMDJHQ YLHOOHLFKW NRQQWH HU GHQ QHXHQ +HUUHQ GDPLW VHLQH (UJHEHQKHLW EH ZHLVHQ"0LWJURHU /LHEHQVZUGLJNHLWHUNOlUWHHU /DUULHU VWHWV]X'LHQVWHQ]XVHLQOLHHLQH=HOOHIUHLPDFKHQXQG EHRUGHUWH *HIDQJHQH GLH .DQLVWHU DXV GHP :DJHQ ]X KROHQXQGLQGLH=HOOH]XVFKDIIHQ *HQHYLqYHKDWWHHLQHQXQDQJHQHKPHQ(LQGUXFNYRQGHP 0DQQ XQG EDW GDUXP PLW LQ GLH =HOOH HLQJHVFKORVVHQ ]X

ZHUGHQ 6LH N|QQH DXI GHU 3ULWVFKH HLQ ZHQLJ UXKHQ GDV ZUGH LKU JXWWXQ (V JLQJ LKU GDEHL DXFK XP LKU .|IIHU FKHQ GDV VLH DQ VLFK JHQRPPHQ DOV VLH PLW /DUULHU GLH *HIDQJHQHQ YRP $XWR ]X GHU =HOOH EHJOHLWHW KDWWH 'RUW KDWWHVLHHVZLH]XIlOOLJQHEHQGLH.DQLVWHUJHVWHOOW 0RQVLHXU *HPLHU VFKOXJ GLH +lQGH EHU GHP .RSI ]X VDPPHQ :DV 0DGDPH ZRKO YRQ LKP KDOWH ² HLQH *H IDQJHQHQSULWVFKH DOV 5XKHEHWW 1HLQ QHLQ LP *HIlQJQLV ZlUHQ VFKRQ QRFK 5lXPH GLH HLQHU 'DPH ZHLW EHVVHU DQVWQGHQ 6RIRUW ZHUGH HU 0DGDPH HLQ EHVFKHLGHQHV DEHUGRFKEHTXHPHV/DJHU]XU9HUIJXQJVWHOOHQ(VEOLHE *HQHYLqYHQLFKWVEULJDOVGLH=HOOH]XYHUODVVHQ/DUULHU GXUFK GHQ K|IOLFKHQ *HIlQJQLVGLUHNWRU HUPXQWHUW EHVDQQ VLFK DXI VHLQH .DYDOLHUVSIOLFKWHQ XQG JULII QDFK *HQH YLqYHV YHUPHLQWOLFKHP 7RLOHWWHQN|IIHUFKHQ (U ZDU EHU UDVFKWZLHVFKZHUHVZDU *HQHYLqYH HUKLHOW GHQ 1DFKWGLHQVWUDXP GHU *HIlQJ QLVREHULQVSHNWRUHQ ]XJHZLHVHQ GHU PLW HLQHP JXWHQ %HWW DXVJHVWDWWHW ZDU 5DVFK GUlQJWH VLH /DUULHU KLQDXV GHU $QVWDOWHQPDFKHQZROOWHVLFKKLHUDXFKDXV]XUXKHQXQG IRUGHUWH LKQ DXI 2å&RQQRU ]XU +DQG ]X JHKHQ $OV VLH DOOHLQ ZDU OHJWH VLH VLFK DQJHNOHLGHW QLHGHU XQG ILHO LQ HLQHQXQUXKLJHQ6FKODI 'LH 6RQQH KDWWH GHQ =HQLW VFKRQ EHUVFKULWWHQ DOV DQ *HQHYLqYHV 7U JHNORSIW ZXUGH /DUULHU XQG 2å&RQQRU EHWUDWHQ GHQ 5DXP *HPHLQVDP VXFKWHQ VLH GHQ 'LUHNWRU DXI *HPLHU HPSILQJ VLH VHKU NKO WURW] GHU IUHXQGOLFKHQ 'DQNHVZRUWH /DUULHUV (U WURPPHOWH PLW GHQ )LQJHUQ DXI GHQ6FKUHLEWLVFKXQGEHJDQQÄ-DPHLQH+HUUVFKDIWHQLFK KDEH GDUEHU QDFKJHGDFKW ZLH YLHOH /HXWH KHXW]XWDJH ZRKO 6FKlW]H LQV $XVODQG VFKDIIHQ GLH LP *UXQGH GHP

IUDQ]|VLVFKHQ9RONJHK|UHQ'DVP|JHQVLHPLWPHKURGHU ZHQLJHUJXWHQ3DSLHUHQEHZHUNVWHOOLJHQ,KUH3DSLHUHVLQG JXWVHKU JXW YLHOOHLFKW HLQ ZHQLJ ]X JXW ,FK KDOWH HV IU PHLQH SDWULRWLVFKH 3IOLFKW EHU PHLQHQ 'LHQVWZHJ .ODU KHLW]XHUODQJHQZDVHVPLWGLHVHP7UDQVSRUWDXIVLFKKDW HKHLFKGLH:DUHKHUDXVJHEH*HKWDOOHVVHLQHQJHUHJHOWHQ *DQJELWWHVFK|QGDQQZHUGHLFK,KQHQJXWH5HLVHZQ VFKHQ 6LH YHUVWHKHQ LFK ELQ )UDQ]RVH GDV 9DWHUODQG EUDXFKWKHXWH ZDFKVDPH6|KQH ,FK HPSIHKOH ,KQHQ VLFK LQ 3RLWLHUV 4XDUWLHU ]X VXFKHQ PRUJHQ RGHU EHUPRUJHQ ZHUGHQZLUZHLWHUVHKHQ³ 'LH GUHL %HVXFKHU ZDUHQ ZLH YRP 'RQQHU JHUKUW 'DV LVW HLQ )HXHUNUHX]OHU GHU /XQWH JHURFKHQ KDW GDFKWH *HQHYLqYH (V LVW GRFK QLFKW DOOHV GLFKW XP 3LpWUL EHU OHJWH/DUULHU ,UJHQGHLQHUYRQVHLQHQ0lQQHUQDUEHLWHWIU GLH 6XUHWp VLH KDW XQV /HXWH KLQWHUKHUJHMDJW XQG KLHU JHVWHOOW2å&RQQRUPDFKWHVLFKGLH6DFKHZHQLJHUNRPSOL ]LHUWHUEUXPPWHOHLVHLQVLFKKLQHLQÄ9HUIOXFKWHU,GLRW³ /DUULHU EHJDQQ ]X UHGHQ (U EHVFKZRU +HUUQ *HPLHU GHP 9DWHUODQG QLFKW LQ GHQ 5FNHQ ]X IDOOHQ 'DV EH VWlUNWHGHQ+HUUQ'LUHNWRUQXULQVHLQHU$EVLFKW(UEHWHX HUWH HEHQ GDV 9DWHUODQG VFKW]HQ ]X ZROOHQ (U VHKH QLU JHQGVHLQHQ*UXQG]XU(LOH*HZLLP0RPHQWVWHKHGLH )URQW VFKOHFKW DEHU )UDQNUHLFKV JORUUHLFKH $UPHHQ ZU GHQ GLH 'HXWVFKHQ EDOG ]XP 6WHKHQ EULQJHQ Ä'HU *HLVW YRQ9HUGXQZLUGDXIOHEHQ³ULHIHUSDWKHWLVFKDXV6RJHEH HV JDU NHLQHQ *UXQG ]XU $XIUHJXQJ ,UJHQGZDQQ NRPPH GLH %HVWlWLJXQJ GD DOOHV VWLPPH ZDV GLH +HUUVFKDIWHQ HU]lKOHQRGHU²VLHNRPPHQLFKW,QMHGHP)DOOHKDEHHU *HPLHU VHLQH 3IOLFKW HUIOOW 2å&RQQRU VSUDQJ DXI XQG JLQJ HUUHJW LP =LPPHU DXI XQG DE :LH ]XIlOOLJ EOLHE HU DP)HQVWHUVWHKHQ'RUWGUEHQKLQWHUGHU,QQHQKRIPDXHU

ODJ GDV *HElXGH LQ GHP VLFK GLH =HOOH EHIDQG 2KQH GLHVHQ JRWWYHUGDPPWHQ 'LUHNWRU IKUWH NHLQ :HJ GRUW KLQHLQ 'HU ,UH WUDW YRQ KLQWHQ DQ GHQ 6FKUHLEWLVFK GHV 'LUHNWRUV XQG NORSIWH LKP ZLH IUHXQGVFKDIWOLFK DXI GLH 6FKXOWHU $OV VLFK *HPLHU OHLFKW HUVFKUHFNW XPZDQGWH EOLFNWHHUGLUHNWLQGHQ3LVWROHQODXI

Ä*HVWDWWHQ 6LH PLU PHLQ +HUU PLFK PLW HLQHP NOHLQHQ 9RUVFKODJ DQ GHU 8QWHUKDOWXQJ ]X EHWHLOLJHQ³ VDJWH 2å&RQQRUOlFKHOQGÄ,FKKRIIHHUZLUGGHP+HUUQ'LUHN WRUDQJHQHKPVHLQDQJHQHKPHUMHGHQIDOOVDOVHLQ/RFKLP .RSI .HLQH $QJVW HV KDQGHOW VLFK QXU XP HLQH NOHLQH 0KH 'HU +HUU 'LUHNWRU JHUXKHQ VHLQHQ :DFKKDEHQGHQ ]X UXIHQ 6REDOG MHQHU DQ GHU 7U HUVFKHLQW VFKlW]H LFK ZLUG LKP GHU +HUU 'LUHNWRU EHIHKOHQ GLH .DQLVWHU DQ GDV *HIlQJQLVWRUVFKDIIHQ]XODVVHQXQGWHOHIRQLVFKGHQ9ROO ]XJ]XPHOGHQ(VZlUHIUHXQGOLFKZHQQGHU+HUU'LUHN

WRU GLHVHP %HIHKO KLQ]XIJHQ ZROOWH GLH +HUUVFKDIWHQ ZUGHQ VLFK DOVEDOG DQ GDV 7RU EHPKHQ XP VLFK ]X YHUDEVFKLHGHQ6RZHLWPHLQ9RUVFKODJ(VLVWLQGHV+HUUQ 'LUHNWRUV YROOHV (UPHVVHQ JHVWHOOW LKQ DQ]XQHKPHQ RGHU QLFKW %HL GHU (QWVFKHLGXQJ GDUEHU HPSIHKOH LFK DOOHU GLQJVGLH*HVFKZLQGLJNHLWHLQHU3LVWROHQNXJHO]XEHUFN VLFKWLJHQ 6LH LVW ZHVHQWOLFK K|KHU DOV GLH GHV VFKQHOOVWHQ *HIlQJQLVEHDPWHQ -HQHU ZUGH QXU QRFK *HOHJHQKHLW KDEHQVHLQHPWRWHQ&KHIGLHOHW]WH(KUH]XHUZHLVHQ$XI HLQHWHFKQLVFKH+HPPXQJGHV%URZQLQJVZUGHLFKQLFKW EDXHQYLHOZHQLJHUQRFKDXIHLQHPRUDOLVFKHVHLQHV%HVLW ]HUV (V LVW .ULHJ VRIHUQ LFK UHFKW XQWHUULFKWHW ELQ ,P .ULHJKHLWHVZLUGPLW9HUUlWHUQNXU]HU3UR]HJHPDFKW (V ZLUG XQV QLFKW VFKZHUIDOOHQ QDFKWUlJOLFK QDFK]XZHL VHQLQZHOFKKRKHP*UDGHZLUXQVGD]XEHUHFKWLJWKDOWHQ GXUIWHQ8QGZHQQQLFKW²GHQ+HUUQ*HPLHUPDFKWGDV DXFKQLFKWZLHGHUOHEHQGLJ³ *HPLHUVWDUUWHHQWVHW]WDXIGLHGURKHQGHNUHLVUXQGHgII QXQJ (U UDQJ VLFK HLQ NUDPSIKDIWHV /lFKHOQ DE Ä$EHU PHLQH +HUUVFKDIWHQ LFK IUFKWH GDV LVW DOOHV HLQ JURHU ,UUWXP³VWDPPHOWHHU Ä6LH PDFKHQ PLFK JOFNOLFK PHLQ +HUU³ DQWZRUWHWH 2å&RQQRU Ä(LQ ,UUWXP :LH VFKQHOO LVW HLQ ,UUWXP ]X EHULFKWLJHQ (LQ NOXJHU 'LUHNWRU HLQ NOHLQHV .OLQJHO]HL FKHQ HLQ GLV]LSOLQLHUWHU %HDPWHU ² VFKRQ LVW DOOHV LQ EHVWHU2UGQXQJ³ *HPLHUKDWWHGLH0|JOLFKNHLWGLH$ODUPDQODJH]XEHWl WLJHQDEHUGHQGDUDXIIROJHQGHQ/lUPZUGHHUQLFKWPHKU ELV ]XP (QGH K|UHQ 'LHVHU VFKUHFNOLFKH URWKDDULJH %XU VFKH VDK QLFKW VR DXV DOV KDEH HU $QJVW YRU GHU HLJHQHQ &RXUDJH 6R GUFNWH GHU 'LUHNWRU EUDY GHQ .OLQJHONQRSI XQG VFKQDUUWH GHP HLQWUHWHQGHQ %HDPWHQ GDV EHIRKOHQH

6SUFKOHLQ HQWJHJHQ 6FKOLHOLFK VLQG GLH 6WUROFKH QRFK QLFKW GUDXHQ GDFKWH HU (KH VLH GDV YRUGHUH 7RU HUUHL FKHQ ZLUG HV IU VLH JHVFKORVVHQ VHLQ =ZDQ]LJ %HDPWH PLW .DUDELQHUQ ZHUGHQ VLFK YRU GHU 3LVWROH GHV 5RWKDDUL JHQQLFKWIUFKWHQ Ä6HKUVFK|Q³VDJWH2å&RQQRUDOVGHU:DFKWPHLVWHUJH JDQJHQ ZDU =X *HQHYLqYH JHZDQGW IXKU GHU ,UH IRUW Ä:ROOHQ6LHELWWHYRP)HQVWHUDXVGHQO|EOLFKHQ'LHQVWHL IHU GHU 8QWHUJHEHQHQ GLHVHV +HUUQ EHREDFKWHQ XQG %H VFKHLG VDJHQ ZHQQ VLH GLH ]Z|OI .DQLVWHU GXUFK GDV 7RU JHWUDJHQKDEHQ³ *HQHYLqYHWUDW]XP)HQVWHU1DFKHLQHU:HLOH]lKOWHVLH HLQH5HLKH*HIDQJHQHXQGGHUHQ/DVWHQ Ä1XQ ZLUG PDQ EDOG WHOHIRQLHUHQ PHLQ +HUU ,FK UDWH ,KQHQ JXW VDJHQ 6LH 0HUFLå XQG 'LH +HUUVFKDIWHQ NRP PHQ JOHLFKå .HLQ :RUW PHKU³ VSUDFK 2å&RQQRU ]X *H PLHU .XU]GDUDXIVXUUWHGDV7HOHIRQXQG*HPLHUWDWZDVLKP EHIRKOHQZDU2å&RQQRUIXKUIRUWÄ6RQXQQRFKHLQSDDU .OHLQLJNHLWHQ 6HW]HQ 6LH VLFK GRFK ELWWH GRUW YRU GHU +HL]XQJ DXI GHQ )XERGHQ³ *HPLHU ]|JHUWH DEHU 2å&RQQRUSUHWHLKPGHQ3LVWROHQODXILQGHQ5FNHQXQG ]ZDQJLKQLKP]XIROJHQ Ä6LHPHLQ/LHEHU³VSUDFKGHU,UH]X/DUULHUÄVFKQHLGHQ ELWWH GLH VFK|QHQ *DUGLQHQVFKQUH DE +LHU LVW PHLQ 7D VFKHQPHVVHU³ /DUULHUWDWZDVLKPJHKHLHQ Ä8QG 6LH 0DGDPH ELQGHQ QXQ GLHVHQ +HUUHQ UHFKW KEVFKIHVW(LQH6FKOLQJHXPGHQ+DOVGLHVLFK]X]LHKW GDV DQGHUH (QGH XP GHQ +HL]N|USHU GDV GlPPW GLH %H ZHJXQJVOXVW'DQQGLH+lQGHHLQ]HOQXQGGLH%HLQHEHU .UHX]³

*HQHYLqYH WDW HV PLW 9HUJQJHQ GLHVHU 2å&RQQRU ZDU HLQ SUlFKWLJHU %XUVFKH 6LH YHUVFKQUWH *HPLHU NXQVWJH UHFKW XQG VWRSIWH LKP GDV 7DVFKHQWXFK GDV LKU 2å&RQQRU ]XZDUIWLHILQGHQ0XQG'LHKDHUIOOWHQ$XJHQ*HPLHUV VW|UWHQVLHGDEHLQLFKWLPPLQGHVWHQ Ä:LUJHKHQMHW]W:LUNRPPHQDEHUDXFKHLQPDOZLHGHU :HQQ ZLU XQV JHWlXVFKW KDEHQ ZHUGHQ ZLU XQV HQWVFKXO GLJHQZHQQQLFKWZLUG,KQHQ)UDQNUHLFKV9RONGLH5HFK QXQJYRUOHJHQ³ 1DFK GLHVHQ :RUWHQ 2å&RQQRUV YHUOLHHQ GLH GUHL GDV 'LHQVW]LPPHU XQG JLQJHQ LQ XQDXIIlOOLJHU (LOH ]XP +DXSWWRU'RUWJUWHQ]ZHL%HDPWHPLOLWlULVFKXQGKDOIHQ VFKQHOO PLW GLH .DQLVWHU LP :DJHQ ]X YHUVWDXHQ 1DFK ZHQLJHQ0LQXWHQEUDXVWHGHUGXQNHOJUQH3HXJHRWGDYRQ *HQHYLqYH SUHWH LKU .|IIHUFKHQ IHVW DQ VLFK LKU +HU] VFKOXJZLOGXQGVFKPHU]KDIW /DUULHUZDUVHLQHP.ROOHJHQGDQNEDU2KQHLKQZlUHGLH 6XUHWp MHW]W LP %HVLW] GHV VFKZHUHQ :DVVHUV XQG 3LpWUL ZUGH DOOH VHLQH %H]LHKXQJHQ VSLHOHQ ODVVHQ PVVHQ XP HV GRUW ZLHGHU ORV]XHLVHQ 'DV DEHU KlWWH /DUULHUV $QWHLO DQGHU%HXWHDXIHLQ1LFKWV]XVDPPHQVFKUXPSIHQODVVHQ :HUEH]DKOWHVFKRQHLQHQGHUPLWOHHUHQ+lQGHQNDP" /HLGHUKDWWHGLH6DFKH HLQHQ+DNHQ ,QVSlWHVWHQV]ZHL GUHL 6WXQGHQ ZUGH GHU YHUVFKQUWH *HIlQJQLVGLUHNWRU DXIJHIXQGHQ ZRUGHQ VHLQ ZHQQ QLFKW MHW]W VFKRQ 'DV 7HOHIRQ LVW VFKQHOOHU DOV GHU VFKQHOOVWH 3HXJHRW LQ $Q JRXOrPHEHUHLWVNRQQWHQEHZDIIQHWH0lQQHUGHU5HLVHHLQ (QGHVHW]HQ 2å&RQQRUZXQGHUWHVLFKGD/DUULHUDXIHLQPDO]XU(LOH WULHE ,KP ZDU HV UHFKW GDV ,QWHUPH]]R LQ 3RLWLHUV KDWWH VHLQH (QHUJLH DXIV K|FKVWH JHVSDQQW ,KQ TXlOWH QXU GLH )UDJHREHUGLHVHP0RQVLHXU*HPLHUXQUHFKWJHWDQKDWWH

RGHUQLFKW *HQHYLqYHZDUYRUhEHUOHJXQJHQGLHVHU $UW JHIHLW 'D IU PDFKWH LKU HWZDV DQGHUHV 6RUJH 6LH KDWWH VHKU ZRKO /DUULHUV (UVWDXQHQ EHPHUNW DOV HU GDV .|IIHUFKHQ DQKRE GDVVRJDUQLFKWGHP*HZLFKWGHUNOHLQHQ7RLOHWWHQXWHQVL OLHQHQWVSUDFKGLHHLQH'DPHDXI5HLVHQEHQ|WLJWH(VZDU GXUFKDXVP|JOLFKGDHUGDQDFKIUDJWHZDVVROOWHVLHLKP DQWZRUWHQ"

6LH HUUHLFKWHQ GDV 7DO GHU &KDUHQWH 'HU 9HUNHKU ZDU ZHVHQWOLFK GQQHU JHZRUGHQ XQG GHU 3HXJHRW PDFKWH IORWWH )DKUW /DUULHUV %HIUFKWXQJHQ EHZDKUKHLWHWHQ VLFK QLFKW VLH GXUFKTXHUWHQ XQJHKLQGHUW $QJRXOHPH 'HU 7DJ JLQJ ]XU 1HLJH XQG 2å&RQQRU VWHOOWH ZWHQG IHVW HV ZUGH0LWWHUQDFKWZHUGHQHKHVLH%RUGHDX[HUUHLFKWHQ (VEHUXKLJWH /DUULHU HLQZHQLJLQ$QJRXOrPHQLFKW DQ JHKDOWHQ ZRUGHQ ]X VHLQ 'DQQ PXWH HU VLFK DEHU VDJHQ IUGLH6XUHWpZlUHHVDPHLQIDFKVWHQGHQ7UDQVSRUWGLUHNW DQ GHU Ä6W1D]DLUH³ DE]XIDQJHQ ZR]X VROOWH VLH VLFK XQWHUZHJV EHPKHQ ZHQQ LKU GHU 9RJHO GRUW VLFKHU LQV *DUQJLQJ.UDPSIKDIWEHUOHJWHHUREHVQLFKWHLQHQ:HJ JHEH GLHVHU JHIlKUOLFKHQ =ZLVFKHQVWDWLRQ DXV]XZHLFKHQ DEHU HV ILHO LKP QLFKWV HLQ $Q 2å&RQQRUV (QWVFKORVVHQ KHLW GDV 6FKLII ]X HUUHLFKHQ ZDU QLFKW ]X ]ZHLIHOQ (U /DUULHUZDUGHUOHW]WHGHULKQGDUDQKLQGHUQNRQQWH (V ZDU 1DFKW *LHULJ WDVWHWHQ GLH 6FKHLQZHUIHU GLH VFKDUIHQ.XUYHQDP8IHUGHU'URQQHDE6LHMDJWHQGXUFK &RXWUDV XQG /LERXUQH 2å&RQQRU KDWWH VLFK GLH .DUWH JUQGOLFKDQJHVHKHQ(UZXWH]XGHP9RUKDIHQ3DXLOODF LQGHPGLHÄ6W1D]DLUH³ODJPXWHQVLHGLH*DURQQH DXI GHQ PlFKWLJHQ VWHLQHUQHQ 3RQW GH %RUGHDX[ EHUTXHUHQ XQG GDQQ QRFK IQI]LJ .LORPHWHU GLH *LURQGH VHHZlUWV

KLQDEIDKUHQ$OVGLH5RVWUDOVlXOHQGHU3ODFHGHV4XLQFRQ FHV LP 6FKHLQZHUIHUOLFKW DXIOHXFKWHWHQ VFKOXJ HV YRQ 6DLQW$QGUp XQG 6DLQW0LFKHO HLQ 8KU .HLQH $XVVLFKW PHKULQGLHVHU1DFKWQRFKLQ6HH]XVWHFKHQ

'LH=LPPHUOHXWHePLOHXQG-DFTXHVVDHQIU|VWHOQGYRU GHU6FKLIIV]LPPHUHLGHU+DIHQYHUZDOWXQJ6LHKDWWHQLKUH $UEHLW JHWDQ HLQ VHHWFKWLJHV )OR ODJ DQ GHU Ä6W1D ]DLUH³ EHUHLW 6LH KDWWHQ DXFK +|O]HU YRUEHUHLWHW XP GDV 7UDQVSRUWJXWGDUDXI]XEHIHVWLJHQ-HW]WEUDXFKWHQXUQRFK GHU:DJHQ]XNRPPHQ 'HQ JDQ]HQ $EHQG KDWWHQ VLH DEZHFKVHOQG DP 5DGLR JHVHVVHQXP1DFKULFKWHQYRP.ULHJVVFKDXSODW]]XK|UHQ 6LHZDUHQGUIWLJEHGLHQWZRUGHQXQGVLHZDUHQSROLWLVFK JHVFKXOWJHQXJGDULQHLQVFKOHFKWHV=HLFKHQ]XVHKHQ Ä+RIIHQWOLFK VLQG ZLU PRUJHQ LQ 3DULV³ EUXPPWH -DFTXHVÄGDPLWLFKPLFK]XU$UPHHPHOGHQNDQQ³ Ä9HUVXFK GDV PHLQ -XQJH³ DQWZRUWHWH GHU JUDXKDDULJH ePLOH ÄPLFK $OWHQ QHKPHQ VLH QLFKW REJOHLFK VLH ZHL *RWW MHGHQ .RPPXQLVWHQ JHEUDXFKHQ N|QQWHQ 9RUDXVJH VHW]WVLHODVVHQGLFKJHKHQ3DULVZLUGVHLQH=LPPHUOHXWH Q|WLJKDEHQ³ Ä6R HLQ *HVLQGHO GLH *HQHUDOH GLH 0LQLVWHU =HKQWDX VHQGH*HQRVVHQKDOWHQVLHKLQWHU6FKORXQG5LHJHOJHUD GH GLH GLH ZLH GLH 7HXIHO JHJHQ GLH )DVFKLVWHQ NlPSIHQ ZUGHQ³ ePLOHZROOWHDQWZRUWHQDOVHLQ:DJHQGHQ4XDLKHUDXI MDJWH'LHEHLGHQ0lQQHUVFKQHOOWHQKRFK-DFTXHV UDQQWH GDYRQXPGHQ.DSLWlQGHUÄ6W1D]DLUH³]XEHQDFKULFKWL JHQ GHVVHQ 6FKLII VHLW 6WXQGHQ PLW ZDUPJHODXIHQHQ 0R WRUHQGHU$EIDKUWKDUUWH 1XQ JLQJ DOOHV EOLW]VFKQHOO ePLOH EHUJDE /DUULHU GHQ

%ULHI GHV 3URIHVVRUV XQG IKUWH GHQ :DJHQ DQ GDV )OR GDVXQWHUHLQHP.UDQGLFKWQHEHQGHP6FKLIIVOHLEODJ Ä7ULQNZDVVHU 9HUSIOHJXQJ JHQXJ /HXFKWSLVWROHQ HLQH 7DNHODJH =HOWSODQHDOOHVLVWVFKRQIHVWYHUVWDXW PLW GHP 'LQJ ZUGH LFK QDFK $PHULND IDKUHQ³ VDJWH HU ODFKHQG XQG EHJDQQ PLW ZXFKWLJHQ 6FKOlJHQ GDV *HVWHOO IU GLH .DQLVWHU]X]LPPHUQ -DFTXHV NDP PLW GHP .DSLWlQ KHUDQ Ä6FKQHOO VFKQHOO PHLQH +HUUHQ³ VDJWH GHU 6HHPDQQ ÄHV LVW QRFK HLQLJH 6WXQGHQGXQNHOJHQXJXPLQ6HH]XVWHFKHQ³ 2å&RQQRU ZDU GHU EHWULHEVDPH (LIHU DQJHQHKP XQG /DUULHUWDWDOVIUHXWHHUVLFKDXFKGDUEHU*HQHYLqYHZDU ]XIULHGHQ 3LpWUL KDWWH EHVWLPPW VHLQH 6SLW]HO LQ GLHVHP +DIHQ 6LH ZUGHQ LKP GLH $EIDKUW GHV 6FKLIIHV PHOGHQ 'DVGUIWHLKQEHUXKLJHQ1LHPDQGZUGHDXIGHQ*HGDQ NHQNRPPHQGD]XU6WXQGHHLQ6FKLII /D 5RFKHOOH YHU ODVVHQKDWWHXQGVLFKZRKOVFKRQDXIKRKHU6HHEHIDQGHLQ 6FKLIIPLW/XFLHQXQGGHPVFKZHUHQ:DVVHUDQ%RUG .XU]H=HLWVSDWHUVFKZHEWHGDV)ORDQVWDUNHQ.UDQKD NHQKLQDXIDXIGDV'HFNGHUÄ6W1D]DLUH³-DFTXHVePLOH XQG 2IIL]LHUH GHU +DIHQNRPPDQGDWXU JUWHQ GDV PLW DEJHGXQNHOWHQ/LFKWHUQGDYRQJOHLWHQGH6FKLII 1DFKGHPGHU.DSLWlQ'U/DUULHUYRQGHU5HHGHUHLHLQHQ %ULHI DXVJHKlQGLJW KDWWH OLH HU VHLQHQ GUHL 3DVVDJLHUHQ LKUH .DELQHQ ]XZHLVHQ (U ZXQGHUWH VLFK HLQ ZHQLJ GD ]ZHL YRQ LKQHQ GLH 'DPH XQG 'U /DUULHU LKQ ZLH HV VFKLHQXQDEKlQJLJYRQHLQDQGHUIOVWHUQGEDWHQVLHLQGUHL 6WXQGHQZHFNHQ]XODVVHQ *HQHYLqYH]ZDQJGLH0GLJNHLWQLHGHU$QJHNOHLGHWODJ VLHDXIGHP%HWWXQGJUEHOWH:DVZUGHGHU.DSLWlQWXQ ZHQQ /DUULHU LKP GLH 2UGHU GHU 6FKLIIDKUWVJHVHOOVFKDIW ]XUFNJDEGHQ.XUV]XlQGHUQ":DQQZUGHQVLH6DQWDQ

GHUHUUHLFKHQ":DQQZUGHQGLH'HXWVFKHQGLH.DQLVWHULQ GHQ +lQGHQ KDEHQ ZDQQ PHUNHQ GD VLH JHQDVIKUW ZRUGHQVLQG" $PEHVWHQZlUHHVEHUOHJWH*HQHYLqYHVLHZUGHQHV EHUKDXSW QLH PHUNHQ :HQQ PDQ MHW]W LQ GHU 1DFKW GDV )OREHU%RUGVWU]HQN|QQWH-DZHQQ6LHVHOEVWKlWWH QLHGLH.UDIWYRQGHU%RUGZDFKHJDQ]DEJHVHKHQGLHGDV YHUKLQGHUQ ZUGH 9LHOOHLFKW ZLUG GDV 6FKLII DQJHJULIIHQ YRQ'HXWVFKHQGLHQLFKWZLVVHQGDHVHLQHLKUHUQLHGHU WUlFKWLJHQ+RIIQXQJHQELUJWYRQ )UDQ]RVHQZHQQHVGHQ 6GNXUV HLQVFKOlJW" -D GDV ZlUH GDV EHVWH GLH Ä6W 1D]DLUH³ERPEDUGLHUWGLH.DQLVWHUYHUQLFKWHW(VPXWHMD QLFKWJOHLFKDXIV*DQ]HJHKHQ *HQHYLqYH ZXWH ZDV VLH ]X WXQ KDWWH %HL GHU HUVWHQ EHVWHQ *HOHJHQKHLW ZUGH VLH LKU %OHFKN|IIHUFKHQ ]ZL VFKHQ GLH .DQLVWHU VWHOOHQ XQG LQ $NWLRQ VHW]HQ 'HU *H GDQNH GD VLH GDPLW LKU HLJHQHV 6FKLFNVDO EHVLHJHOQ N|QQWH NDP LKU QLFKW ,UJHQGZLH ZUGH DOOHV JXW JHKHQ 'LHVH hEHU]HXJXQJ ZDU LQ LKU IDVW EHUPlFKWLJ XQG OLH VLHEHLQDKHVHKQVFKWLJDXIHLQH*HOHJHQKHLW]XP+DQGHOQ KRIIHQ:LHEHIUHLWJDEVLHVLFKHLQHPNXU]HQ6FKODIKLQ

'HU.DSLWlQHUIDWHPLWHLQHP6FKODJGLH/DJHDOVLKP /DUULHU LP 0RUJHQJUDXHQ GHQ %ULHI EHUJDE Ä+DEHQ 6LH .HQQWQLVYRP,QKDOWGLHVHV6FKUHLEHQVPHLQ+HUU"³IUDJWH HU PLW XQEHZHJWHU 0LHQH /DUULHU EHMDKWH 'HU .DSLWlQ EHGDQNWH VLFK K|IOLFK XQG HUNOlUWH VHLQH 3IOLFKW NRUUHNW HUIOOHQ]XZROOHQ%HUXKLJWYHUOLH/DUULHUGLH%UFNH 'HU .DSLWlQ VFKZDQNWH RE HU GHQ 9HUUlWHU JOHLFK IHVW VHW]HQ VROOWH HQWVFKLHG VLFK DEHU GDQQ GRFK GDV LQ (QJ ODQG YLHO XQDXIIlOOLJHU WXQ ]X N|QQHQ (U EHUSUIWH QRFK HLQPDOGHQ.XUVXQGEHIDKOÄbXHUVWH.UDIWYRUDXV³0LW

VFKlXPHQGHU %XJZHOOH VWDPSIWH GLH Ä6W1D]DLUH³ JHQ 1RUGZHVWHQ

6WXQGHQ ZDUHQ YHUJDQJHQ )UDQNUHLFKV .VWH ODJ JXWH HLQKXQGHUW]ZDQ]LJ 6HHPHLOHQ ]XUFN 'D EHJDQQ /DUULHU XQUXKLJ ]X ZHUGHQ (U YHUVWDQG QLFKWV YRQ 1DYLJDWLRQ DEHUGHP6RQQHQVWDQGQDFKIXKUGLHÄ6W1D]DLUH³NHLQHQ 6GNXUV$XIPHUNVDPEHREDFKWHWHHUPLW+LOIHVHLQHU8KU GDV*HVWLUQHLQH:HLOHELVLKPVHLQ9HUGDFKW]XU*HZL KHLW ZXUGH 'HU .DSLWlQ PLDFKWHWH GLH $QZHLVXQJ GHU 6FKLIIDKUWVJHVHOOVFKDIWXQGVWHXHUWH(QJODQG]X (LQHLVLJHU6FKUHFNGXUFKIXKU/DUULHU-HW]WVDHULQGHU )DOOH$OOH0KHZDUYHUJHEHQVJHZHVHQXQGGHU%ULHILQ GHU +DQG GHV .DSLWlQV ZXUGH ]XP 6WULFN XP /DUULHUV +DOV -HW]WJDEHVQXUQRFKHLQHZLQ]LJH&KDQFH3LpWULV)XQN JHUlW 0LW JU|WHU 6HOEVWEHKHUUVFKXQJ VFKOHQGHUWH /DUULHU YRP+HFNGHV6FKLIIHV]XVHLQHU.DMWH'RUWSDFNWHHULQ ILHEHUKDIWHU(LOHGDV*HUlWDXVXQGEHJDQQ]XPRUVHQRD N²RDN²RDN«0LWNORSIHQGHP+HU]HQKRUFKWHHU ULQJVXP:HUNRQQWHZLVVHQREVHLQH0RUVH]HLFKHQQLFKW GLH )XQNDQODJH GHV 6FKLIIHV VW|UWHQ" 1LFKWV UKUWH VLFK 1XQMDJWH/DUULHUVHLQ'DGDGD²GLGD²GDGLGDSDXVHQ ORVLQGHQbWKHUKLQDXV(U KDWWH ZHQLJ +RIIQXQJ JHK|UW ]XZHUGHQ'LHÄ6W1D]DLUH³ZDUZRKOVFKRQ]XZHLWYRP GHXWVFKHQ0DFKWEHUHLFKHQWIHUQW *HQHYLqYH ZDU HUZDFKW 6RIRUW ILHO LKU ZLHGHU HLQ ZDV VLHYRUGHP(LQVFKODIHQJHGDFKWKDWWH6LHKRELKU.|IIHU FKHQ DXI GHQ .DMWHQWLVFK XQG NODSSWH GHQ 'HFNHO KRFK XPGHQ%OHFKEHKlOWHULPHQWVFKHLGHQGHQ0RPHQWJULIIEH UHLW]XKDEHQ'DQQPDFKWHVLHHLQZHQLJ7RLOHWWHXQGJLQJ

DQ'HFN)UHXQGOLFKJUWHVLH]XU%UFNHKLQDXIXQGZDU EHUGHQXQK|IOLFKHQ*HJHQJUXHUVWDXQW9LHOOHLFKWSDWH HV GHP DOWHQ 6HHElUHQ QLFKW GDV IDVFKLVWLVFKH 6SDQLHQ DQODXIHQ]XPVVHQGDFKWHVLH:HQQGHPVRZlUHKlWWH VLHLKQJHUQEHUXKLJWDEHUGD]XKDWWHVLHNHLQ5HFKW:DQQ ZUGHGDV6FKLII)UDQNUHLFKZLHGHUVHKHQ)UDQNUHLFKGDV LUJHQGZRGRUWKLQWHQEHUGHP+HFNOLHJHQPXWH" *HQHYLqYHEHVFKORVLFKZLHDXV1HXJLHUGHLQGHQ0D VFKLQHQUDXP]XSLUVFKHQ9LHOOHLFKWNRQQWHVLH GRUW XQWHQ HWZDVEHUGHQ.XUVHUIDKUHQGHQ.DSLWlQ]XIUDJHQZlUH ]X DXIIlOOLJ JHZHVHQ 'HU 0DVFKLQHQPDDW HUIUHXW HLQHQ VRVFK|QHQ%HVXFK]XEHNRPPHQZDU]XP3ODXGHUQJHUQ EHUHLW 'HQQRFK VFKLHQ HU HLQ )XFKV ]X VHLQ GHU VLFK *HQHYLqYHVYRUVLFKWLJHQ)UDJHQJHJHQEHUGXPPVWHOOWH 3O|W]OLFKGXUFKKHXOWHGLH$ODUPVLUHQHGDV6FKLII*HQH YLqYHVWU]WH DXV GHP 0DVFKLQHQUDXP YHUOLHI VLFK LQ GHU (LOHXQGJHODQJWHYLHOVSlWHUDQ'HFNDOVLKUOLHEZDU6LH K|UWH0RWRUHQJHEUXPPXQGVDK]ZHLNOHLQH XQG HLQ JUR HV )OXJ]HXJ UDVHQG VFKQHOO DXI GDV 6FKLII ]XNRPPHQ =XJOHLFK HQWGHFNWHVLH2å&RQQRUGHUPLWKDVWLJHQ6FKOl JHQGLH+DOWHWDXHGHV)ORHVNDSSWH(UULHILKUHWZDV]X DEHU VLH YHUVWDQG LKQ QLFKW 'DV .|IIHUFKHQ IXKU HV LKU EOLW]VFKQHOO GXUFK GHQ .RSI -HW]W RGHU QLH NRQQWH HV QW]OLFKZHUGHQ(LOHQGVOLHIVLH]XLKUHU.DMWH

/DUULHUVSUDQJEHLPHUVWHQ7RQGHU$ODUPVLUHQHDXI6LH KDWWHQ LKQ JHK|UW -HW]W VFKQHOO PLW GHP )OR EHU %RUG QRFK NRQQWH DOOHV JHOLQJHQ (U UDQQWH GHQ .DMWHQJDQJ HQWODQJ $OV HU DQ *HQHYLqYHV .DMWHQWU YRUEHLNDP VWRFNWH VHLQ )X (LJHQWOLFK KlWWH HU VHLQH YHUPHLQWOLFKH .RPSOLFLQPLWQHKPHQPVVHQ$EHUGDQQILHOLKP*HQH YLqYHV JHKHLPQLVYROOHU .RIIHU HLQ ,QGXVWULHGLDPDQWHQ

HQWKLHOWH HU KDWWH VLH DXI VHLQH )UDJH JHDQWZRUWHW 6LH PXWHQ HLQHQ EHGHXWHQGHQ :HUW GDUVWHOOHQ :HQQ HU GHQ .RIIHU PLWQlKPH XQG GLH )UDX DEVFKWWHOWH KlWWH HU HLQ VFK|QHV6WFN*HOG]XVlW]OLFK (U VWLH GLH 7U DXI 'D ODJ GHU .RIIHU RIIHQ DXI GHP 7LVFK PLW HLQHP KDQGOLFKHQ %OHFKEHKlOWHU JHIOOW (U UL LKQKHUDXVXQGSUHVFKWHGLH7UHSSHHPSRU$OVHUGDV'HFN HUUHLFKWH HU|IIQHWHQ GLH %HJOHLWMlJHU GHV :DVVHU IOXJ]HXJHV GDV )HXHU DXV LKUHQ %RUGZDIIHQ 8QWHU GHQ SIHLIHQGHQ (LQVFKOlJHQ UDVWH /DUULHU ]XP )OR 'RUW EH PKWHVLFK2å&RQQRUVFKRQGDVVFKZHUH%DONHQJHVWHOO]X EHZHJHQ +DVWLJ SDFNWH /DUULHU PLW ]X 'DV )OR EHJDQQ ]X UROOHQ XQG NODWVFKWH PLW ODXWHP .QDOO DXI GDV :DVVHU DXI /DUULHU JULII QDFK GHP %HKlOWHU 2å&RQQRU GHU LQ GLHVHP 0RPHQW LQV 0HHU VSULQJHQ ZROOWH VDK LQ OHW]WHU 6HNXQGH GDV %OHFKJHKlXVH PLW GHQ JUQHQ +DQGJULIIHQ (UVWXW]WH'HU%HKlOWHU(UZDUQLFKWLQ3DULV JHEOLHEHQ" ² +RIIHQWOLFK JHOLQJW HV MHGHP HKUOLFKHQ 0HQVFKHQ GD YRQ]XODXIHQ0LW6FKXIWHQVROOHUUXKLJDEUHFKQHQ²'DV ZDUHQ GRFK %RQQDUGV :RUWH JHZHVHQ 'DV *DQ]H PXWH HLQ VFKUHFNOLFKHU ,UUWXP VHLQ 'U /DUULHU PLW GHU +|OOHQ PDVFKLQHLQGHU+DQGÄ'HQ.RIIHUKHU³VFKULH2å&RQQRU GHQ 'RNWRU DQ /DUULHU EHUOHJWH QLFKW LQZLHZHLW GHU ,UH EHUKDXSW HWZDV YRQ *HQHYLqYHV Ä,QGXVWULHGLDPDQWHQ³ ZLVVHQ NRQQWH (U YHUQDKP QXU GD LKP 2å&RQQRU GLH NRVWEDUH%HXWHVWUHLWLJPDFKHQZROOWH:WHQGJDEHUGHP .ROOHJHQHLQHQKHIWLJHQ6WRYRUGLH%UXVWGHUGHQhEHU UDVFKWHQ ]X %RGHQ ZDUI /DUULHU VSUDQJ +HIWLJ SUDOOWH HU DXI GLH :DVVHUREHUIOlFKH 2å&RQQRU UDSSHOWH VLFK KRFK XQG VDK ZLH /DUULHU PLW HLQHU +DQG UXGHUQG PKVDP GHP)OR]XVWUHEWH6HLQ.DPHUDGVFKDIWVJHIKOVLHJWH(U VHW]WH ]XP 6SUXQJ DQ 'D UL LKQ *HQHYLqYH DWHPORV

NHXFKHQG]XUFN 'DV )OXJERRW PLW GHQ %DONHQNUHX]HQ KDWWH VHLQH HUVWH %RPEHDEJHZRUIHQ'UHLLJ0HWHUYRP%XJGHUÄ6W1D ]DLUH³HQWIHUQWVFKRHLQH )RQWlQHDXVGHU6HH'LH-lJHU GUHKWHQ KRFK DP +LPPHO LKUH .XUYHQ ]X HLQHP QHXHQ $QJULII ,P =LFN]DFNNXUV VWDPSIWH GLH Ä6W1D]DLUH³ GDKLQ 2IIHQVLFKWOLFK KDWWH GHU %RPEHUSLORW GDV )OR HUVSlKW $OV VLFK VHLQ )OXJ]HXJ ZLHGHU QlKHUWH YHU]LFKWHWH HU DXI HLQHQ]ZHLWHQ%RPEHQDEZXUIXP]RJGDV)ORPLWLPPHU QLHGULJHUHQ .UHLVHQ XQG ZDVVHUWH EDOG LQ VHLQHU 1lKH :lKUHQGGHVVHQ JULIIHQ GLH -DJGIOXJ]HXJH GLH Ä6W1D ]DLUH³ZLHGHUKROWDQRKQHPLWLKUHQ=ZHL]HQWLPHWHUNDQR QHQ6FKDGHQDQ]XULFKWHQ *HQHYLqYHKDWWHVLFKIHVWLQ2å&RQQRUV-DFNHWWYHUNUDOOW Ä%OHLEHQ 6LH KLHU XP *RWWHV ZLOOHQ EOHLEHQ 6LH KLHU³ VFKULH VLH 2å&RQQRU GDFKWH DQ %RQQDUG :DUXP VDJWH GLHVHV0lGFKHQGDVVHOEHZLHGHU0HFKDQLNHU" 6FKOLHOLFKHQWVFKORHUVLFKGRFKLKUH:DUQXQJ]XEH DFKWHQXQG]RJ*HQHYLqYHLQGHQ6FKXW]HLQHV%HLERRWHV 'LH 6FKLIIVEHVDW]XQJ YHUKLHOW VLFK WDSIHU -HGHU 0DQQ VWDQGDQVHLQHP3ODW]VRGDQXU*HQHYLqYHXQG2å&RQ QRU DXI 'HFN ZDUHQ 1RFK LPPHU JULIIHQ GLH -lJHU DQ REZRKOVLHOlQJVWHUNDQQWKDEHQPXWHQGDVLHDOOHLQGDV 6FKLIIQLFKWVWRSSHQNRQQWHQ $XIJHUHJW VSUXGHOWH *HQHYLqYH HLQH 2å&RQQRU Y|OOLJ XQYHUVWlQGOLFKH(UNOlUXQJKHUYRU'DVVFKZHUH:DVVHUVHL JDUNHLQVFKZHUHV:DVVHUGDIUDEHU/DUULHU HLQ9HUUlWHU (U ZUGH DEHU NHLQH )UHXGH DQ VHLQHP 9HUUDW KDEHQ -D YLHOOHLFKWVRJDUDQLKP]XJUXQGHJHKHQ 'HU ,UH ZXUGH DXV DOOGHP QLFKW NOXJ (U UDQQWH ]XU .RPPDQGREUFNH XQG UL GHP .DSLWlQ GDV 'RSSHOJODV

DXVGHU+DQG'HXWOLFKHUNDQQWHHUZLHVLFKGDV)OXJERRW GHP )OR QlKHUWH XQG ZLH /DUULHU GHU GDV )OR HUUHLFKW KDWWHKHIWLJZLQNWH ,Q GLHVHP $XJHQEOLFN VFKR HLQH 6WLFKIODPPH DXI GHP )OR HPSRU $OV VLFK GHU :LUEHO JHOHJW KDWWH VDK 2å&RQQRUQXUQRFKZLOGDXIGHQ:HOOHQWDQ]HQGH%DONHQ XQGGDVJHNHQWHUWH)OXJERRWPLWDEJHULVVHQHU7UDJGHFNH

*HQHYLqYH ODJ HUVFK|SIW DXI GHQ 'HFNSODQNHQ $OV VLH GLH'HWRQDWLRQK|UWHVFKORVLHJOFNOLFKGLH$XJHQ9RU LKUHPLQQHUHQ*HVLFKWVDKVLHHLQ6FKLIIDXIGHP.XUV/D 5RFKHOOH%ULVWRO VWHXHUQ HLQ 6FKLII PLW HLQHU ZHUWYROOHQ )UDFKWDQ%RUGHLQ6FKLIIPLW/XFLHQGHP*HOLHEWHQ

+HIW

+DQV6FKQHLGHU .UHX]ZHJDP$EJUXQG

+HUEVW0DQIUHG%HUJPDQQNRPPWDXVGHU*HIDQ JHQVFKDIW LQ VHLQ +HLPDWGRUI XQG PX VLFK HQWVFKHLGHQ RE HU IU GLH UHLFKHQ *UREDXHUQ RGHU GLH KXQJHUQGHQ 1HXEDXHUQDUEHLWHQZLOO'DV'RUINRPPWQLFKW]XU5XKH LPPHU ZLHGHU ]HUVW|UHQ 6DERWHXUH ODQGZLUWVFKDIWOLFKH 0DVFKLQHQ XQG VWHFNHQ 6FKHXQHQ LQ %UDQG 'DV JLEW IU 0DQIUHG GHQ $XVVFKODJ (U ZLUG ZlKUHQG GHU (UQWH]HLW 1DFKW IU 1DFKW LQ GHU HKHPDOLJHQ *XWVVFKPLHGH IU GLH 1HXEDXHUQ DUEHLWHQ $OV HU ZlKUHQG GHU HUVWHQ 6FKLFKW QDFK0LWWHUQDFKWHLQH3DXVHHLQOHJWXQGLWZLUGHUSO|W] OLFK VWDUU YRU 6FKUHFN 'LFKW EHU GHP 6FKPLHGHIHXHU KlQJWDQHLQHP'UDKWHLQH6SUHQJJUDQDWH