capitais bálticas estónia - lituânia - letónia

capitais bálticas estónia - lituânia - letónia

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ϭϲϮϮ:h>,KϮϬϭϰ
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KEddͲEK^͊͊
d&>͘ϮϭϭϱϳϮϮϲϬ
D/>͗ƚ͘ƌĞůŝŐŝŽƐŽΛŐĞŽƐƚĂƌ͘Ɖƚ
WZK'ZDWZ>/D/EZs/'D
/ϭϲͬϳ;YƵĂ͘ͿͲ>/^KͬhZKWͬd>>/E
ŽŶĐĞŶƚƌĂĕĆŽ ũƵŶƚŽ ĂŽ ďĂůĐĆŽ ĚĂ 'ĞŽ^ƚĂƌ ƉĞůĂƐ ϭϬŚϬϬ Ğ ĂƐƐŝƐƚġŶĐŝĂ ŶĂƐ ĨŽƌŵĂůŝĚĂĚĞƐ ĚĞ
ĞŵďĂƌƋƵĞ ƉŽƌ ĚĞůĞŐĂĚŽ ĚĂ 'ĞŽ^ƚĂƌ͘ WĂƌƟĚĂ ăƐ ϭϮŚϭϬ Ğŵ ǀŽŽ ĚĞ ĐĂƌƌĞŝƌĂ ƌĞŐƵůĂƌ >ƵŌŚĂŶƐĂ
ĐŽŵ ĚĞƐƟŶŽ Ă dĂůůŝŶ͕ ǀŝĂ ĐŝĚĂĚĞ ĚĂ ƵƌŽƉĂ͘ ŚĞŐĂĚĂ ăƐ ϮϯŚϱϱ Ğ ƚƌĂŶƐƉŽƌƚĞ ƉĂƌĂ Ž ŚŽƚĞů͘
ŝƐƚƌŝďƵŝĕĆŽĚŽƐƋƵĂƌƚŽƐĞĂůŽũĂŵĞŶƚŽ͘
/ϭϳͬϳ;YƵŝ͘ͿͲd>>/E
WĞƋƵĞŶŽĂůŵŽĕŽŶŽŚŽƚĞů͘/ŶŝĐŝŽĚĂǀŝƐŝƚĂĚĂĐŝĚĂĚĞĚĞdĂůůŝŶ͕ƉŽƌƚŽĚŽŵĂƌĄůƟĐŽĞĐĂƉŝƚĂůĚĂ
ƐƚſŶŝĂ͕ Ă ŵĂŝƐ ĂŶƟŐĂ ĐŝĚĂĚĞ DĞĚŝĞǀĂů ĚŽ EŽƌƚĞ ĚĂ ƵƌŽƉĂ͕ ƋƵĞ ĨŽŝ ƌĞĐŽŶƐƚƌƵşĚĂ ĂƉſƐ Ă //
'ƵĞƌƌĂ DƵŶĚŝĂů Ğ ƋƵĞ ĐŽŶƐĞƌǀĂ ĂŝŶĚĂ ƵŵĂ ŵƵƌĂůŚĂ ĚĂ ĐŝĚĂĚĞ ŵĞĚŝĞǀĂů Ğ ƵŵĂ ĂƚĞĚƌĂů ĚŽ
^ĠĐƵůŽy///͘WĂƐƐĂƌĞŵŽƐƉĞůĂĐŽůŝŶĂĚĞdŽŽŵƉĞĂĐŽŵŽƐĞƵĐĂƐƚĞůŽ͕ĚĂƌĞŵŽƐĞƐƉĞĐŝĂůĚĞƐƚĂƋƵĞ
ƉĂƌĂ Ă ͞<ŝĞŬ ŝŶ Ğƌ <ŽŬ͕͟ ƵŵĂ ĚĂƐ ŵĂŝƐ ŝŵƉƌĞƐƐŝŽŶĂŶƚĞƐ dŽƌƌĞƐ ĚĞ ĚĞĨĞƐĂ ĚŽ DĂƌ ĄůƟĐŽ͘
sŝƐŝƚĂƌĞŵŽƐĂĂƚĞĚƌĂůĚĞůĞdžĂŶĚĞƌEĞǀƐŬLJĐŽŶƐƚƌƵşĚĂƉĞůŽnjĂƌůĞdžĂŶĚƌĞ///͕Ă/ŐƌĞũĂŽŵĞ
Ğ Ž ĐĞŶƚƌŽ ŚŝƐƚſƌŝĐŽ͕ ĐŽŵ ŝŶƷŵĞƌĂƐ ůŽũĂƐ͕ ŐĂůĞƌŝĂƐ ĐŽŵĞƌĐŝĂŝƐ͕ ĐĂĨĞƚĂƌŝĂƐ͕ ƌĞƐƚĂƵƌĂŶƚĞƐ Ğ
ĞƐƉůĂŶĂĚĂƐ͕ ǀŝďƌĂŶƚĞ ĚĞ ĐŽƌ Ğ ŵŽǀŝŵĞŶƚŽ͘ ůŵŽĕŽ͘ Ğ ƚĂƌĚĞ͕ ĐŽŶƟŶƵĂĕĆŽ ĚĂƐ ǀŝƐŝƚĂƐ͕ ĐŽŵ
ĚĞƐƚĂƋƵĞ ƉĂƌĂ Ž ŽŶǀĞŶƚŽ ĚĞ ^ĂŶƚĂ ƌşŐŝĚĂ Ğ Ž sĂůĞ ĚĂƐ ĂŶĕƁĞƐ͘ &ŝŶĂůŝnjĂŵŽƐ ŶŽ WĂƌƋƵĞ
<ĂĚƌŝŽƌŐ͕ ĐŽŵ Ž WĂůĄĐŝŽ <ĂĚƌŝŽƌŐ͕ ƌŽĚĞĂĚŽ ĚĞ ǀĞŐĞƚĂĕĆŽ Ğ ůĂŐŽƐ͕ ĨŽŝ ĚĞƐĞŶŚĂĚŽ ƉĂƌĂ Ž njĂƌ
WĞĚƌŽK'ƌĂŶĚĞ͘ŵŚŽƌĂĂĐŽŵďŝŶĂƌ͕ƐĂşĚĂƉĂƌĂƵŵũĂŶƚĂƌơƉŝĐŽŵĞĚŝĞǀĂů͘ZĞŐƌĞƐƐŽĂŽŚŽƚĞů
ĞĂůŽũĂŵĞŶƚŽ͘
/ϭϴͬϳ;^Ğdž͘ͿͲd>>/EͬWZEhͬ^/'h>ͬZ/'
WĞƋƵĞŶŽĂůŵŽĕŽĞƉĂƌƟĚĂĞŵĚŝƌĞĐĕĆŽĂWĂƌŶƵ͕ǀŝƐŝƚĂĚĞƐƚĂĐŝĚĂĚĞĐŽŵŽƐĞƵďĂůŶĞĄƌŝŽĞĂƐƵĂ
ƚŽƌƌĞǀĞƌŵĞůŚĂ͘ůŵŽĕŽĞƉĂƌƟĚĂƌƵŵŽĂZŝŐĂ͕ƉĂƐƐĂŶĚŽƉĞůŽWĂƌƋƵĞEĂĐŝŽŶĂůĚĞ'ĂƵũĂŽŶĚĞ
ǀŝƐŝƚĂƌĞŵŽƐ ĂƐ ƌƵşŶĂƐ ĚŽ ĂƐƚĞůŽ ĚĂ KƌĚĞŵ ĚŽƐ ĂǀĂůĞŝƌŽƐ ƚĞƵƚſŶŝĐŽƐ ;ƐĠĐ͘y///Ϳ Ğ Ž ĂƐƚĞůŽ
ŵĞĚŝĞǀĂů ĚĞ dƵƌĂŝĚĂ͕ Ž ŵĂŝƐ ďĞŵ ĐŽŶƐĞƌǀĂĚŽ Ğŵ ƚŽĚĂ Ă >ĞƚſŶŝĂ͘ dĂŵďĠŵ ǀŝƐŝƚĂƌĞŵŽƐ Ž
DƵƐĞƵ ĚĞ ,ŝƐƚſƌŝĂ ůŽĐĂů ĚĞ ^ŝŐƵůĚĂ͕ Ž ƚƷŵƵůŽ ĚĞ dƵƌĂŝĚĂ͕ Ă ŐƌƵƚĂ 'ƵƚŵĂŶŶ Ğ Ž ƉĂƌƋƵĞ ĚĞ
ĞƐĐƵůƚƵƌĂƐĚĞĚŝĐĂĚĂƐĂŽĨŽůĐůŽƌĞĚĂ>ĞƚſŶŝĂ͘ŚĞŐĂĚĂĂZŝŐĂĂŽĮŶĂůĚŽĚŝĂ͘/ŶƐƚĂůĂĕĆŽŶŽŚŽƚĞů͕
ũĂŶƚĂƌĞĂůŽũĂŵĞŶƚŽ͘
/ϭϵͬϳ;^Ąď͘ͿͲZ/'
WĞƋƵĞŶŽ ĂůŵŽĕŽ ŶŽ ŚŽƚĞů Ğ ŝŶŝĐŝŽ ĚĂ ǀŝƐŝƚĂ ĚĂ ĐŝĚĂĚĞ ĚĞ ZŝŐĂ ĐŽŶŚĞĐŝĚĂ ĐŽŵŽ Ă ͞WĂƌŝƐ͟ ĚŽ
ĄůƟĐŽ͕ƷŶŝĐĂƉĞůĂƐƵĂƌŝƋƵĞnjĂĞƉĞůĂƋƵĂůŝĚĂĚĞĚĂƐƵĂĂƌƋƵŝƚĞĐƚƵƌĂŵŽĚĞƌŶĂĞĞŵŵĂĚĞŝƌĂ͕ĚŽ
ƐĠĐ͘y/y͘WĂƐƐĞŝŽĂƉĠƉĞůĂĐŝĚĂĚĞǀĞůŚĂ͕ĂƚƌĂǀĠƐĚĂƌƵĂ ƉĞĚŽŶĂů ĚĞ ŬĂůĨƵ͕ĂWƌĂĕĂ >ŝǀƐ ĐŽŵŽƐ
ƐĞƵƐĞĚŝİĐŝŽƐŵĞĚŝĞǀĂŝƐ͕ĂĂƚĞĚƌĂůŽŵĞĐŽŶƐƚƌƵşĚĂŶŽƐĠĐ͘y///͕ƋƵĞĂůďĞƌŐĂƵŵĚŽƐŵĂŝŽƌĞƐ
ſƌŐĆŽƐĚŽŵƵŶĚŽĐŽŵŵĂŝƐĚĞϲϳϬϬƚƵďŽƐ͕ĂĂƚĞĚƌĂůKƌƚŽĚŽdžĂ͕Ă/ŐƌĞũĂĚĞ^͘:ĂĐŽďĞŽ
ĞƉĂƌƚĂŵĞŶƚŽĚŽdƵƌŝƐŵŽZĞůŝŐŝŽƐŽΘƵůƚƵƌĂů
WZK'ZDWZ>/D/EZs/'D
ĂƐƚĞůŽ ĚĞ ZŝŐĂ͕ ƌĞƐŝĚġŶĐŝĂ ĚŽ ƉƌĞƐŝĚĞŶƚĞ ĚĂ >ĞƚſŶŝĂ͘ ůŵŽĕŽ͘ ŽŶƟŶƵĂĕĆŽ ĐŽŵ Ă ǀŝƐŝƚĂ ĚĂ
ĨĂŵŽƐĂĂǀĞŶŝĚĂůďĞƌƚĂƋƵĞŽĨĞƌĞĐĞĂŵĂŝƐ ĐŽŵƉůĞƚĂĐŽůĞĐĕĆŽĚĞĞĚŝİĐŝŽƐĚĞƌƚEŽǀĞĂƵĚĂ
ƵƌŽƉĂ͘ZĞŐƌĞƐƐŽĂŽŚŽƚĞůĂŽĮŶĂůĚŽĚŝĂ͘:ĂŶƚĂƌĞĂůŽũĂŵĞŶƚŽ͘
/ϮϬͬϳ;Žŵ͘ͿͲZ/'ͬ^h>/^ͬZhE>ͬs/>E/h^
WĞƋƵĞŶŽ ĂůŵŽĕŽ ŶŽ ŚŽƚĞů͘ ƉſƐ Ž ƋƵĂů ƉĂƌƟƌĞŵŽƐ Ğŵ ĚŝƌĞĐĕĆŽ Ă sŝůŶŝƵƐ͘ &ĂƌĞŵŽƐ ƵŵĂ
ƉĂƌĂŐĞŵŶĂ͞ŽůŝŶĂ ĚĞ ƌƵnjĞƐ͕͞ ůƵŐĂƌƐĂŐƌĂĚŽ͕ĂĚŽƌŶĂĚŽƉŽƌŵŝůŚĂƌĞƐĚĞĐƌƵnjĞƐĚĞƚŽĚŽƐŽƐ
ƚĂŵĂŶŚŽƐĞƋƵĞĚĞŵŽŶƐƚƌĂŵĂĨĠĚŽƉŽǀŽ>ŝƚƵĂŶŽĚƵƌĂŶƚĞŽƉŽĚĞƌ^ŽǀŝĠƟĐŽ͘dŽĚŽƐŽƐĂŶŽƐ
ĞƐƚĂ ĐŽůŝŶĂ Ġ ǀŝƐŝƚĂĚĂ ƉŽƌ ŵŝůŚĂƌĞƐ ĚĞ ƉĞƌĞŐƌŝŶŽƐ͘ ;ĞůĞďƌĂĕĆŽ ĚĂ ƵĐĂƌşƐƟĂͿ͘ ůŵŽĕŽ Ğ
ĐŽŶƟŶƵĂĕĆŽƉĂƌĂsŝůŶŝƵƐ͕ŶŽƉĞƌĐƵƌƐŽĨĂƌĞŵŽƐĂŝŶĚĂƵŵĂƉĂƌĂŐĞŵĞŵZƵŶĚĂůĞ͕ƉĂƌĂǀŝƐŝƚĂĚŽ
ĨĂŵŽƐŽ ƉĂůĄĐŝŽ ďĂƌƌŽĐŽ ĚŽ ƐĠĐ ys///͕ Ă ͞sĞƌƐĂůŚĞƐ ĚŽ ĄůƟĐŽ͕͟ ĐŽŵŽ ƚĂŵďĠŵ Ġ ĐŽŶŚĞĐŝĚĂ Ă
ĂŶƟŐĂƌĞƐŝĚġŶĐŝĂĚĞǀĞƌĆŽĚŽƐĚƵƋƵĞƐĚĞŽƵƌůĂŶĚ͘ŚĞŐĂĚĂĂŽŚŽƚĞů͕ũĂŶƚĂƌĞĂůŽũĂŵĞŶƚŽ͘
/Ϯϭͬϳ;^ĞŐ͘ͿͲs/>E/h^
WĞƋƵĞŶŽĂůŵŽĕŽŶŽŚŽƚĞů͘ŵĂŶŚĆƐĞƌĄĚĞĚŝĐĂĚĂăǀŝƐŝƚĂĚĂĐŝĚĂĚĞ͘ĂŵŝŶŚĂŶĚŽĂŽůŽŶŐŽĚŽ
ƐĞƵ ĞŶƚƌŽ ŚŝƐƚſƌŝĐŽ ŵĞĚŝĞǀĂů͕ ĐůĂƐƐŝĮĐĂĚŽ ĐŽŵŽ WĂƚƌŝŵſŶŝŽ ĚĂ ,ƵŵĂŶŝĚĂĚĞ ƉĞůĂ hŶĞƐĐŽ͕
ƐĂůŝĞŶƚĂŵŽƐ͗Ă/ŐƌĞũĂĚĞ^͘WĞĚƌŽĞ^͘WĂƵůŽ͕ĐŽŶƚĞŶĚŽŵĂŝƐĚĞϮϬϬϬĞƐƚĄƚƵĂƐ͖Ă/ŐƌĞũĂĚĞ^ĂŶƚĂ
ŶĂ͕ ĐŽŶƐƚƌƵşĚĂ Ğŵ ĞƐƟůŽ ŐſƟĐŽ Ğ ĚĞĐŽƌĂĚĂ ĐŽŵ ŵĂŝƐ ĚĞ ϯϯ ƟƉŽƐ ĚŝĨĞƌĞŶƚĞƐ ĚĞ ůĂĚƌŝůŚŽƐ͕ Ă
hŶŝǀĞƌƐŝĚĂĚĞ sĞůŚĂ͕ ĐŽŶƐƚƌƵşĚĂ Ğŵ ϭϱϳϵ͕ Ğ Ă WŽƌƚĂ ĚĂ ƵƌŽƌĂ͕ ĂůďĞƌŐĂŶĚŽ ƵŵĂ ŝŵĂŐĞŵ ĚĂ
sŝƌŐĞŵ͕ sĞŶĞƌĂĚĂ ƉŽƌ ŵƵŝƚŽƐ ĚĞǀŽƚŽƐ ĚŽƐ ƉĂşƐĞƐ ǀŝnjŝŶŚŽƐ͕ ƋƵĞ Ăş ƐĞ ĚĞƐůŽĐĂŵ Ğŵ
WĞƌĞŐƌŝŶĂĕĆŽ͘KĂůŵŽĕŽƐĞƌĄ ĞŵƌĞƐƚĂƵƌĂŶƚĞůŽĐĂů͘sŝƐŝƚĂĂŽDƵƐĞƵ ƚŶŽŐƌĄĮĐŽ ĚĞ ZŽĐĐĂ Ăů
DĂƌĞ͘KDƵƐĞƵƚĞŵŶŽƐƐĞƵƐĂƌƌĞĚŽƌĞƐŵĂŝƐĚĞϭϬϬĐŽŶƐƚƌƵĕƁĞƐĞdžƉŽƐƚĂƐĞŵϴϰŚĞĐƚĂƌĞƐĚĞ
ďŽƐƋƵĞ ŶĂ ĐŽƐƚĂ ĚŽ ŐŽůĨŽ ĚĞ <ŽƉůŝ Ğ ƋƵĞ ƌĞƉƌĞƐĞŶƚĂŵ ŽƐ ĚŝĨĞƌĞŶƚĞƐ ĞƐƟůŽƐ ĚĞ ĂƌƋƵŝƚĞĐƚƵƌĂ
ƌƵƌĂůĂƚƌĂǀĠƐĚĞϭϱϬĂŶŽƐĚĞŚŝƐƚſƌŝĂ͘ZĞŐƌĞƐƐŽĂŽŚŽƚĞů͘:ĂŶƚĂƌĞĂůŽũĂŵĞŶƚŽ͘
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WĞƋƵĞŶŽĂůŵŽĕŽŶŽŚŽƚĞů͘ĞŵĂŶŚĆ͕ƉĂƌƟƌĞŵŽƐƉĂƌĂĂĐĂƉŝƚĂůŵĞĚŝĞǀĂůĚĂ>ŝƚƵąŶŝĂ͕dƌĂŬĂŝ͕
ĐŝĚĂĚĞƌŽĚĞĂĚĂƉŽƌϭϬƉĞƋƵĞŶŽƐůĂŐŽƐĞĐŽŵŽƐĞƵĨĂŵŽƐŽĂƐƚĞůŽĚŽ^ĠĐƵůŽy/s͘ůŵŽĕŽĞŵ
ƌĞƐƚĂƵƌĂŶƚĞ ůŽĐĂů͘ ŵ ŚŽƌĂ Ă ŝŶĚŝĐĂƌ ƐĂşĚĂ ƉĂƌĂ Ž ĂĞƌŽƉŽƌƚŽ͘ &ŽƌŵĂůŝĚĂĚĞƐ ĚĞ ĞŵďĂƌƋƵĞ Ğ
ƉĂƌƟĚĂăƐϭϱŚϬϱĞŵǀŽŽĚĂ>ƵŌŚĂŶƐĂĐŽŵĚĞƐƟŶŽĂ>ŝƐďŽĂ͕ǀŝĂĐŝĚĂĚĞĚĂƵƌŽƉĂ͘ŚĞŐĂĚĂĂ
>ŝƐďŽĂƉĞůĂƐϮϯŚϬϬ
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ĞƉĂƌƚĂŵĞŶƚŽĚŽdƵƌŝƐŵŽZĞůŝŐŝŽƐŽΘƵůƚƵƌĂů
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YƵĂƌƚŽĚƵƉůŽ;ŵşŶŝŵŽĚĞϰϬƉĂƌƟĐŝƉĂŶƚĞƐͿ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϯϵϬ͕ϬϬΦ
^ƵƉůĞŵĞŶƚŽƉĂƌĂYƵĂƌƚŽ/ŶĚŝǀŝĚƵĂů͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϮϱϬ͕ϬϬΦ
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;ĚŽĐƵŵĞŶƚŽǀĄůŝĚŽƉĂƌĂĂǀŝĂŐĞŵͿ
^Zs/K^/E>h1K^͗
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WĂƐƐĂŐĞŵĂĠƌĞĂĞŵǀŽŽƐƌĞŐƵůĂƌĞƐĞĚŝƌĞŝƚŽĂŽƚƌĂŶƐƉŽƌƚĞĚĞϮϯŬŐĚĞďĂŐĂŐĞŵ;ϭƉĞĕĂͿ͖
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dĂdžĂƐĚĞĂĞƌŽƉŽƌƚŽ͕ƐĞŐƵƌĂŶĕĂĞĐŽŵďƵƐơǀĞů͖
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dƌĂŶƐƉŽƌƚĞĞŵĂƵƚŽĐĂƌƌŽĚĞƚƵƌŝƐŵŽĚŽƐĂĞƌŽƉŽƌƚŽƐĂŽƐŚŽƚĠŝƐĞǀŝĐĞͲǀĞƌƐĂ͖
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ŝƌĐƵŝƚŽĞŵĂƵƚŽĐĂƌƌŽƉƌŝǀĂƟǀŽĚĞƚƵƌŝƐŵŽĐŽŵĂƌĐŽŶĚŝĐŝŽŶĂĚŽ͖
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ƐƚĂĚŝĂĞŵŚŽƚĠŝƐĚĞƉƌŝŵĞŝƌĂĐĂƚĞŐŽƌŝĂ͕ĞŵƋƵĂƌƚŽ;ĞƐĐŽůŚŝĚŽͿĐŽŵďĂŶŚŽŽƵĚƵĐŚĞ͖
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ZĞĨĞŝĕƁĞƐĚĞĂĐŽƌĚŽĐŽŵŽƉƌĞƐĞŶƚĞƉƌŽŐƌĂŵĂĚĞǀŝĂŐĞŵ;ŵĞŶƷĮdžŽͿ͖
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džĐƵƌƐƁĞƐĞǀŝƐŝƚĂƐĚĞĂĐŽƌĚŽĐŽŵŽƉƌĞƐĞŶƚĞƉƌŽŐƌĂŵĂ͕ŽƌŝĞŶƚĂĚĂƐƉŽƌŐƵŝĂƐůŽĐĂŝƐĂĨĂůĂƌ
ƉŽƌƚƵŐƵġƐŽƵĞƐƉĂŶŚŽůĚĞĂĐŽƌĚŽĐŽŵĂƐĚŝƐƉŽŶŝďŝůŝĚĂĚĞƐ͖
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ŶƚƌĂĚĂƐƉĂŐĂƐĞŵDƵƐĞƵƚŶŽŐƌĄĮĐŽĚĞZŽĐĐĂĂůDĂƌĞŶĂƐƚſŶŝĂ͕WĂůĄĐŝŽĚĞZƵŶĚĂůĞ͕
ĂƚĞĚƌĂůĚĞŽŵĞ͕/ŐƌĞũĂĚĞ^͘WĞĚƌŽĞdŽƌƌĞWĂŶŽƌĂŵĂ͕WĂƌƋƵĞEĂĐŝŽŶĂůĚĞ^ŝŐƵůĚĂŶĂ
>ĞƚſŶŝĂ͕hŶŝǀĞƌƐŝĚĂĚĞĚĞsŝůŶŝƵƐĞĂƐƚĞůŽĚĞdƌĂŬĂŝŶĂ>ŝƚƵąŶŝĂ͖
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'ƵŝĂĂĐŽŵƉĂŶŚĂŶƚĞĚƵƌĂŶƚĞƚŽĚŽŽĐŝƌĐƵŝƚŽĚĞdĂůůŝŶĂsŝůŶŝƵƐ͖
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dĂdžĂƐĚĞƚƵƌŝƐŵŽĞƐĞƌǀŝĕŽ͖
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^ĞŐƵƌŽĚĞǀŝĂŐĞŵ͕^ĂĐŽĚĞǀŝĂŐĞŵ'ĞŽ^ƚĂƌ͖
^Zs/K^EK/E>h1K^͗
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ĞďŝĚĂƐ ăƐ ƌĞĨĞŝĕƁĞƐ͕ ƌĞĨĞŝĕƁĞƐ ĞƐƉĞĐŝĂŝƐ ŽƵ ŶĆŽ ŵĞŶĐŝŽŶĂĚĂƐ͕ ŐƌĂƟĮĐĂĕƁĞƐ Ă ŐƵŝĂƐ Ğ
ŵŽƚŽƌŝƐƚĂƐ͕ďĂŐĂŐĞŝƌŽƐ͕ĞŶƚƌĂĚĂƐĞŵŵƵƐĞƵƐĞŵŽŶƵŵĞŶƚŽƐƋƵĂŶĚŽŶĆŽĞƐƚĞũĂĞdžƉůşĐŝƚŽĂ
ǀŝƐŝƚĂ ĚŽ ŝŶƚĞƌŝŽƌ͕ ĞdžƚƌĂƐ ĚĞ ĐĂƌĄĐƚĞƌ ƉĞƐƐŽĂů Ğ ƚƵĚŽ Ž ƋƵĞ ŶĆŽ ĞƐƚĞũĂ ĚĞǀŝĚĂŵĞŶƚĞ
ĞƐƉĞĐŝĮĐĂĚŽŶŽƉƌĞƐĞŶƚĞƉƌŽŐƌĂŵĂ͘
>dZKWZK^͗
KƐƉƌĞĕŽƐĐŽŶƐƚĂŶƚĞƐŶĞƐƚĞƉƌŽŐƌĂŵĂĞƐƚĆŽĐŽƟnjĂĚŽƐĚĞĂĐŽƌĚŽ͕ĐŽŵĂƐƚĂdžĂƐĚĞĐąŵďŝŽǀŝŐĞŶƚĞƐ
ăĚĂƚĂĚĞƐƚĂŝŵƉƌĞƐƐĆŽ͕ĂƐƐŝŵĐŽŵŽ͕ŽĐƵƐƚŽĚĂƐƚĂdžĂƐĚĞ͗ĂĞƌŽƉŽƌƚŽ͕ƐĞŐƵƌĂŶĕĂĞĐŽŵďƵƐơǀĞŝƐ͕
ƉĞůŽƋƵĞŽƉƌĞĕŽƉŽĚĞƌĄƐĞƌĂůƚĞƌĂĚŽĐĂƐŽƐĞǀĞƌŝĮƋƵĞĂŇƵƚƵĂĕĆŽĚĂƐŵĞƐŵĂƐ͘
ĂƚĂĚĞ/ŵƉƌĞƐƐĆŽ͗ϮϬͬϬϭͬϮϬϭϰ
WZdDEdKKdhZ/^DKZ>/'/K^KΘh>dhZ>
'K^dZͮ^ĞĚĞ͗dŽƌƌĞKƌŝĞŶƚĞ͕ǀĞŶŝĚĂĚŽŽůĠŐŝŽDŝůŝƚĂƌ͕ŶǑϯϳ&͕ϱǑͲϭϱϬϬͲϬϴϭ>ŝƐďŽĂ
ŽŶƚĂƚŽƐ͗ϮϭϭϱϳϮϮϲϬͬϮϲϲͬϮϲϳͬϮϲϴͮŵĂŝů͗ƚ͘ƌĞůŝŐŝŽƐŽΛŐĞŽƐƚĂƌ͘Ɖƚͮ>ŝŶŚĂϮϰ,ŽƌĂƐϳϬϳϮϰϭϰϭϰ
ĂƉŝƚĂů^ŽĐŝĂůhZϲϬϬϬϬϬϬͮDdZ/͘Z>ŝƐďŽĂͬE/WϱϬϬϴϴϲϭϭϯͮZEsdEǑZĞŐŝƐƚŽϭϴϭϵ