(AGENPARL) - Roma, 27 Febbraio 2023

(AGENPARL) – lun 27 febbraio 2023 BMW Group brings hydrogen cars to the road:
BMW iX5 Hydrogen pilot fleet launches
+++ Important next phase: pilot vehicles in real-world use deliver valuable knowledge +++ Paving the way for potential series production +++
Munich / Antwerp. The BMW Group is presenting international media representatives with the first vehicles in a pilot fleet that will go into service this year. After four years of development work, the BMW iX5 Hydrogen vehicle and development project is entering its critical next phase.
The fleet of under 100 vehicles will then be employed internationally for demonstration and trial purposes for various target groups. This active driving experience will therefore be the first chance for people not involved in the development process to gain a direct impression of what the BMW iX5 Hydrogen has to offer.
“Hydrogen is a versatile energy source that has a key role to play in the energy transition process and therefore in climate protection. After all, it is one of the most efficient ways of storing and transporting renewable energies”, said Oliver Zipse, Chairman of the Board of Management of BMW AG. “We should use this potential to also accelerate the transformation of the mobility sector. Hydrogen is the missing piece in the jigsaw when it comes to emission-free mobility. One technology on its own will not be enough to enable climate-neutral mobility worldwide.”
The BMW iX5 Hydrogen
The BMW iX5 Hydrogen developed on the basis of the current BMW X5 was first unveiled as a concept at the IAA show in 2019. Initial prototypes were then made available at the IAA Mobility 2021 for visitors to experience in action as shuttle vehicles.
Its hydrogen fuel cell system is further proof of the BMW Group’s leading development expertise in the field of electric drive technologies. The BMW Group is systematically pushing forward with development of hydrogen fuel cell technology as an additional option for locally emission-free individual mobility in the future.
BMW’s technological expertise
The BMW Group produces the highly efficient fuel cell systems for the pilot fleet at its in-house competence centre for hydrogen in Munich. This technology is one of the core elements in the BMW iX5 Hydrogen and generates a high continuous output of 125 kW/170 hp.
A chemical reaction takes place in the fuel cell between gaseous hydrogen from the tanks and oxygen from the air. Maintaining a steady supply of both elements to the fuel cell’s membrane is of crucial importance for the drive system’s efficiency. In addition to the technological equivalents of features found on combustion engines, such as charge air coolers, air filters, control units and sensors, the BMW Group also developed special hydrogen components for its new fuel cell system. These include the high-speed compressor with turbine and high-voltage coolant pump, for instance.
The BMW Group sources the individual fuel cells from the Toyota Motor Corporation. The two companies have enjoyed a partnership characterised by trust for many years and have been collaborating on fuel cell drive systems since 2013.
Fuel cell systems are manufactured in two main steps, based on the individual fuel cells. The cells are first assembled into a fuel cell stack. The next step involves fitting all the other components to produce a complete fuel cell system.
Stacking of the fuel cells is largely a fully automated process. Once the individual components have been inspected for any damage, the stack is compressed by machine with a force of five tonnes and placed in a housing. The stack housing is manufactured in the light metal foundry at BMW Group Plant Landshut using a sand casting technique.
For this, molten aluminium is poured into a mould made from compacted sand mixed with resin in a process specially designed for this small-series vehicle.
The pressure plate, which delivers hydrogen and oxygen to the fuel cell stack, is made from cast plastic parts and light-alloy castings, also from the Landshut plant. The pressure plate forms a gas-tight and water-tight seal around the stack housing.
Final assembly of the fuel cell stacks includes a voltage test along with extensive testing of the chemical reaction within the cells. Finally, all the different components are fitted together in the assembly area to produce the complete system.
During this system assembly stage, further components are fitted, such as the compressor, the anode and cathode of the fuel-cell system, the high-voltage coolant pump and the wiring harness.
In combination with a highly integrated drive unit using fifth-generation BMW eDrive technology (the electric motor, transmission and power electronics are grouped together in a compact housing) at the rear axle and a power battery with lithium-ion technology developed specially for this vehicle, the powertrain channels maximum output of 295kW / 401 hp onto the road. In coasting overrun and braking phases, the motor also serves as a generator, feeding energy back into a power battery.
Production at Munich pilot plant
The BMW iX5 Hydrogen is being built in the BMW Group’s pilot plant at its Research and Innovation Centre (FIZ) in Munich. This is the interface between development and production where every new model from the company’s brands is made for the first time. Around 900 people work there in the body shop, assembly, model engineering, concept vehicle construction and additive manufacturing.
They are tasked with ensuring that both the product and the manufacturing process are ready for series production. In the case of the BMW iX5 Hydrogen, specialists in hydrogen technology, vehicle development and initial assembly of new models have been working closely together to integrate the cutting-edge drive and energy storage technology.
Hydrogen allows rapid re-fuelling
The hydrogen needed to supply the fuel cell is stored in two 700-bar tanks made of carbon-fibre reinforced plastic (CFRP). Together these hold almost six kilograms of hydrogen, enough to give the BMW iX5 Hydrogen a range of 504 km (313 miles) in the WLTP cycle. Filling up the hydrogen tanks only takes three to four minutes – so the BMW iX5 Hydrogen can also provide the driving pleasure for which BMW is renowned over long distances, with just a few, short stops along the way.
Summary of the technical data, performance, fuel consumption and range figures for the BMW iX5 Hydrogen:
Maximum output of overall drive system: 295 kW/401 hp
Electric continuous output of the fuel-cell system: 125 kW/170 hp
Maximum output of the battery (lithium-ion technology): 170 kW/231 hp
Maximum output of the highly integrated electric drive unit: 295 kW/401 hp
Capacity of the hydrogen tanks: 6 kg hydrogen (gaseous)
Acceleration 0-100 km/h (62 mph) < 6 s
Top speed: Over 180 km/h (112 mph)
Hydrogen consumption in the WLTP cycle: 1.19 kg/100 km
Range in the WLTP cycle: 504 km (313 miles)
FCEV technology contributes to decarbonisation
The BMW Group is the first German carmaker to have joined the “Business Ambition for 1.5°C campaign” led by the Science Based Targets initiative and is committed to achieving the goal of full climate neutrality throughout the value chain.
The next step in this process involves the BMW Group’s plan to reduce CO2 emissions per vehicle over its full lifecycle – i.e. supply chain, production and use phase – by at least 40 per cent by 2030 compared with 2019.
The BMW Group sold more than 215,000 fully electric vehicles worldwide in 2022, which represents an increase over the previous year of almost 108 per cent. Fully electric vehicles accounted for just under 9 per cent of total sales volumes last year, and this share is set to increase to 15 per cent in 2023.
By 2030 at the latest, the BMW Group is looking to reach a situation where fully electric vehicles claim a more than 50 per cent share of its overall sales.
The BMW Group views FCEV technology expressly as a potential addition to the drive technology used by battery-electric vehicles.
Hydrogen as part of global activities for CO2-free mobility
According to a report by the International Energy Agency (IEA), hydrogen offers considerable potential as a future energy source in connection with global energy transition activities. Thanks to its storage and transport capabilities, hydrogen can be used for a wide variety of applications.
Most industrialised countries are therefore adopting hydrogen strategies and backing them up with roadmaps and concrete projects. In the transport sector, hydrogen can become a further technology option, alongside battery-electric mobility, for shaping sustainable individual mobility in the long term.
However, this will depend on competitive production of sufficient quantities of hydrogen from green power, as well as expansion of the corresponding filling infrastructure, which is already being intensively pursued in many countries.
The BMW Group welcomes and supports activities to promote innovation in Germany and Europe that will help build a hydrogen economy and accelerate production of green hydrogen. These specifically include the large-scale hydrogen projects classified as Important Projects of Common European Interest (IPCEI).
The projects that comprise this European Union initiative, supported in Germany by the Federal Ministry of Economic Affairs and the Federal Ministry of Transport, span the entire value chain – from hydrogen production to transport to applications in industry.
With the right conditions, hydrogen fuel cell technology has the potential to become a further pillar in the BMW Group’s drive train portfolio for local CO2-free mobility.
In the event of enquiries please contact:
BMW Group, Corporate Communications
Carolin Seidel, Press Spokesperson Innovation and Technology
Bernhard Ederer, Press Spokesperson Innovation and Technology
Media website: http://www.press.bmwgroup.com
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.
In 2022, the BMW Group sold nearly 2.4 million passenger vehicles and more than 202,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.
[www.bmwgroup.com](about:blank)

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ĪŇijĵĽĻŀĹ Łĸ Ňĺķ ĸňķľ ĵķľľŅ ĻŅ ľijńĹķľŌ ij ĸňľľŌ ijňŇŁĿijŇķĶ łńŁĵķŅŅ&#x0014; Ħŀĵķ Ňĺķ
ĻŀĶĻʼnĻĶňijľ ĵŁĿłŁŀķŀŇŅ ĺijʼnķ Ĵķķŀ ĻŀŅłķĵŇķĶ ĸŁń ijŀŌ ĶijĿijĹķ&#x0015; Ňĺķ ŅŇijĵĽ ĻŅ
ĵŁĿłńķŅŅķĶ ĴŌ ĿijĵĺĻŀķ ŊĻŇĺ ij ĸŁńĵķ Łĸ ĸĻʼnķ ŇŁŀŀķŅ ijŀĶ łľijĵķĶ Ļŀ ij ĺŁňŅĻŀĹ&#x0014;
Ĭĺķ ŅŇijĵĽ ĺŁňŅĻŀĹ ĻŅ ĿijŀňĸijĵŇňńķĶ Ļŀ Ňĺķ ľĻĹĺŇ ĿķŇijľ ĸŁňŀĶńŌ ijŇ ęĤį ĞńŁňł
ħľijŀŇ ģijŀĶŅĺňŇ ňŅĻŀĹ ij ŅijŀĶ ĵijŅŇĻŀĹ ŇķĵĺŀĻŃňķ&#x0014;

ĝŁń ŇĺĻŅ&#x0015; ĿŁľŇķŀ ijľňĿĻŀĻňĿ ĻŅ łŁňńķĶ ĻŀŇŁ ij ĿŁňľĶ ĿijĶķ ĸńŁĿ ĵŁĿłijĵŇķĶ ŅijŀĶ
ĿĻŋķĶ ŊĻŇĺ ńķŅĻŀ Ļŀ ij łńŁĵķŅŅ ŅłķĵĻijľľŌ ĶķŅĻĹŀķĶ ĸŁń ŇĺĻŅ ŅĿijľľ$ŅķńĻķŅ ʼnķĺĻĵľķ&#x0014;

Ĭĺķ łńķŅŅňńķ łľijŇķ&#x0015; ŊĺĻĵĺ ĶķľĻʼnķńŅ ĺŌĶńŁĹķŀ ijŀĶ ŁŋŌĹķŀ ŇŁ Ňĺķ ĸňķľ ĵķľľ ŅŇijĵĽ&#x0015;
ĻŅ ĿijĶķ ĸńŁĿ ĵijŅŇ łľijŅŇĻĵ łijńŇŅ ijŀĶ ľĻĹĺŇ$ijľľŁŌ ĵijŅŇĻŀĹŅ&#x0015; ijľŅŁ ĸńŁĿ Ňĺķ
ģijŀĶŅĺňŇ łľijŀŇ&#x0014; Ĭĺķ łńķŅŅňńķ łľijŇķ ĸŁńĿŅ ij ĹijŅ$ŇĻĹĺŇ ijŀĶ ŊijŇķń$ŇĻĹĺŇ Ņķijľ
ijńŁňŀĶ Ňĺķ ŅŇijĵĽ ĺŁňŅĻŀĹ&#x0014;

ĝĻŀijľ ijŅŅķĿĴľŌ Łĸ Ňĺķ ĸňķľ ĵķľľ ŅŇijĵĽŅ ĻŀĵľňĶķŅ ij ʼnŁľŇijĹķ ŇķŅŇ ijľŁŀĹ ŊĻŇĺ
ķŋŇķŀŅĻʼnķ ŇķŅŇĻŀĹ Łĸ Ňĺķ ĵĺķĿĻĵijľ ńķijĵŇĻŁŀ ŊĻŇĺĻŀ Ňĺķ ĵķľľŅ&#x0014; ĝĻŀijľľŌ&#x0015; ijľľ Ňĺķ
ĶĻĸĸķńķŀŇ ĵŁĿłŁŀķŀŇŅ ijńķ ĸĻŇŇķĶ ŇŁĹķŇĺķń Ļŀ Ňĺķ ijŅŅķĿĴľŌ ijńķij ŇŁ łńŁĶňĵķ Ňĺķ
ĵŁĿłľķŇķ ŅŌŅŇķĿ&#x0014;

ěňńĻŀĹ ŇĺĻŅ ŅŌŅŇķĿ ijŅŅķĿĴľŌ ŅŇijĹķ&#x0015; ĸňńŇĺķń ĵŁĿłŁŀķŀŇŅ ijńķ ĸĻŇŇķĶ&#x0015; Ņňĵĺ ijŅ Ňĺķ
ĵŁĿłńķŅŅŁń&#x0015; Ňĺķ ijŀŁĶķ ijŀĶ ĵijŇĺŁĶķ Łĸ Ňĺķ ĸňķľ$ĵķľľ ŅŌŅŇķĿ&#x0015; Ňĺķ ĺĻĹĺ$ʼnŁľŇijĹķ
ĵŁŁľijŀŇ łňĿł ijŀĶ Ňĺķ ŊĻńĻŀĹ ĺijńŀķŅŅ&#x0014;

Ġŀ ĵŁĿĴĻŀijŇĻŁŀ ŊĻŇĺ ij ĺĻĹĺľŌ ĻŀŇķĹńijŇķĶ ĶńĻʼnķ ňŀĻŇ ňŅĻŀĹ ĸĻĸŇĺ$ĹķŀķńijŇĻŁŀ ęĤį
ķěńĻʼnķ ŇķĵĺŀŁľŁĹŌ &#x000B;Ňĺķ ķľķĵŇńĻĵ ĿŁŇŁń&#x0015; ŇńijŀŅĿĻŅŅĻŁŀ ijŀĶ łŁŊķń ķľķĵŇńŁŀĻĵŅ ijńķ
ĹńŁňłķĶ ŇŁĹķŇĺķń Ļŀ ij ĵŁĿłijĵŇ ĺŁňŅĻŀĹ&#x000C; ijŇ Ňĺķ ńķijń ijŋľķ ijŀĶ ij łŁŊķń ĴijŇŇķńŌ
ŊĻŇĺ ľĻŇĺĻňĿ$ĻŁŀ ŇķĵĺŀŁľŁĹŌ ĶķʼnķľŁłķĶ ŅłķĵĻijľľŌ ĸŁń ŇĺĻŅ ʼnķĺĻĵľķ&#x0015; Ňĺķ
łŁŊķńŇńijĻŀ ĵĺijŀŀķľŅ ĿijŋĻĿňĿ ŁňŇłňŇ Łĸ ’™•Ä½Ä¯ &#x001F; ”‘ ĺł ŁŀŇŁ Ňĺķ ńŁijĶ&#x0014; Ġŀ
ĵŁijŅŇĻŀĹ Łʼnķńńňŀ ijŀĶ ĴńijĽĻŀĹ łĺijŅķŅ&#x0015; Ňĺķ ĿŁŇŁń ijľŅŁ ŅķńʼnķŅ ijŅ ij ĹķŀķńijŇŁń&#x0015;
ĸķķĶĻŀĹ ķŀķńĹŌ ĴijĵĽ ĻŀŇŁ ij łŁŊķń ĴijŇŇķńŌ&#x0014;

ĤķĶĻij ĻŀĸŁńĿijŇĻŁŀ

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ĪňĴļķĵŇ

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ħijĹķ

”

ĚŁńłŁńijŇķ ĚŁĿĿňŀĻĵijŇĻŁŀŅ

ħńŁĶňĵŇĻŁŀ ijŇ ĤňŀĻĵĺ łĻľŁŇ łľijŀŇ
Ĭĺķ ęĤį Ļİ• ğŌĶńŁĹķŀ ĻŅ ĴķĻŀĹ ĴňĻľŇ Ļŀ Ňĺķ ęĤį ĞńŁňł1Ņ łĻľŁŇ łľijŀŇ ijŇ ĻŇŅ
ĩķŅķijńĵĺ ijŀĶ ĠŀŀŁʼnijŇĻŁŀ ĚķŀŇńķ &#x000B;ĝĠIJ&#x000C; Ļŀ ĤňŀĻĵĺ&#x0014; ĬĺĻŅ ĻŅ Ňĺķ ĻŀŇķńĸijĵķ ĴķŇŊķķŀ
ĶķʼnķľŁłĿķŀŇ ijŀĶ łńŁĶňĵŇĻŁŀ Ŋĺķńķ ķʼnķńŌ ŀķŊ ĿŁĶķľ ĸńŁĿ Ňĺķ ĵŁĿłijŀŌ1Ņ
ĴńijŀĶŅ ĻŅ ĿijĶķ ĸŁń Ňĺķ ĸĻńŅŇ ŇĻĿķ&#x0014;

ĘńŁňŀĶ ™ łķŁłľķ ŊŁńĽ Ňĺķńķ Ļŀ Ňĺķ ĴŁĶŌ
Ņ壳&#x0015; ijŅŅķĿĴľŌ&#x0015; ĿŁĶķľ ķŀĹĻŀķķńĻŀĹ&#x0015; ĵŁŀĵķłŇ ʼnķĺĻĵľķ ĵŁŀŅŇńňĵŇĻŁŀ ijŀĶ ijĶĶĻŇĻʼnķ
ĿijŀňĸijĵŇňńĻŀĹ&#x0014;

ĬĺķŌ ijńķ ŇijŅĽķĶ ŊĻŇĺ ķŀŅňńĻŀĹ ŇĺijŇ ĴŁŇĺ Ňĺķ łńŁĶňĵŇ ijŀĶ Ňĺķ ĿijŀňĸijĵŇňńĻŀĹ
łńŁĵķŅŅ ijńķ ńķijĶŌ ĸŁń ŅķńĻķŅ łńŁĶňĵŇĻŁŀ&#x0014; Ġŀ Ňĺķ ĵijŅķ Łĸ Ňĺķ ęĤį Ļİ•
ğŌĶńŁĹķŀ&#x0015; ŅłķĵĻijľĻŅŇŅ Ļŀ ĺŌĶńŁĹķŀ ŇķĵĺŀŁľŁĹŌ&#x0015; ʼnķĺĻĵľķ ĶķʼnķľŁłĿķŀŇ ijŀĶ ĻŀĻŇĻijľ
ijŅŅķĿĴľŌ Łĸ ŀķŊ ĿŁĶķľŅ ĺijʼnķ Ĵķķŀ ŊŁńĽĻŀĹ ĵľŁŅķľŌ ŇŁĹķŇĺķń ŇŁ ĻŀŇķĹńijŇķ Ňĺķ
ĵňŇŇĻŀĹ$ķĶĹķ ĶńĻʼnķ ijŀĶ ķŀķńĹŌ ŅŇŁńijĹķ ŇķĵĺŀŁľŁĹŌ&#x0014;

ğŌĶńŁĹķŀ ijľľŁŊŅ ńijłĻĶ ńķ$ĸňķľľĻŀĹ

Ĭĺķ ĺŌĶńŁĹķŀ ŀķķĶķĶ ŇŁ ŅňłłľŌ Ňĺķ ĸňķľ ĵķľľ ĻŅ ŅŇŁńķĶ Ļŀ ŇŊŁ —$Ĵijń ŇijŀĽŅ
ĿijĶķ Łĸ ĵijńĴŁŀ$ĸĻĴńķ ńķĻŀĸŁńĵķĶ łľijŅŇĻĵ &#x000B;Ěĝĩħ&#x000C;&#x0014; ĬŁĹķŇĺķń ŇĺķŅķ 壾Ķ ijľĿŁŅŇ
ŅĻŋ ĽĻľŁĹńijĿŅ Łĸ ĺŌĶńŁĹķŀ&#x0015; ķŀŁňĹĺ ŇŁ ĹĻʼnķ Ňĺķ ęĤį Ļİ• ğŌĶńŁĹķŀ ij ńijŀĹķ Łĸ
•” ĽĿ &#x000B;“‘“ ĿĻľķŅ&#x000C; Ļŀ Ňĺķ įģĬħ ĵŌĵľķ&#x0014; ĝĻľľĻŀĹ ňł Ňĺķ ĺŌĶńŁĹķŀ ŇijŀĽŅ ŁŀľŌ
ŇijĽķŅ Ňĺńķķ ŇŁ ĸŁňń ĿĻŀňŇķŅ % ŅŁ Ňĺķ ęĤį Ļİ• ğŌĶńŁĹķŀ ĵijŀ ijľŅŁ łńŁʼnĻĶķ Ňĺķ
ĶńĻʼnĻŀĹ łľķijŅňńķ ĸŁń ŊĺĻĵĺ ęĤį ĻŅ ńķŀŁŊŀķĶ Łʼnķń ľŁŀĹ ĶĻŅŇijŀĵķŅ&#x0015; ŊĻŇĺ ļňŅŇ ij
ĸķŊ&#x0015; ŅĺŁńŇ ŅŇŁłŅ ijľŁŀĹ Ňĺķ ŊijŌ&#x0014;

ĪňĿĿijńŌ Łĸ Ňĺķ ŇķĵĺŀĻĵijľ ĶijŇij&#x0015; łķńĸŁńĿijŀĵķ&#x0015; ĸňķľ ĵŁŀŅňĿłŇĻŁŀ ijŀĶ ńijŀĹķ
ĸĻĹňńķŅ ĸŁń Ňĺķ ęĤį Ļİ• ğŌĶńŁĹķŀ&#x0016;

ĤijŋĻĿňĿ ŁňŇłňŇ Łĸ Łʼnķńijľľ ĶńĻʼnķ ŅŌŅŇķĿ
&#x0016; ’™• Ľį&#x001F;”‘ ĺł
ĜľķĵŇńĻĵ ĵŁŀŇĻŀňŁňŅ ŁňŇłňŇ Łĸ Ňĺķ ĸňķľ$ĵķľľ ŅŌŅŇķĿ&#x0016;
‘’• Ľį&#x001F;‘— ĺł
ĤijŋĻĿňĿ ŁňŇłňŇ Łĸ Ňĺķ ĴijŇŇķńŌ &#x000B;ľĻŇĺĻňĿ$ĻŁŀ ŇķĵĺŀŁľŁĹŌ&#x000C;&#x0016;
‘— Ľį&#x001F;’“‘ ĺł
ĤijŋĻĿňĿ ŁňŇłňŇ Łĸ Ňĺķ ĺĻĹĺľŌ ĻŀŇķĹńijŇķĶ ķľķĵŇńĻĵ ĶńĻʼnķ ňŀĻŇ&#x0016;
’™• Ľį&#x001F;”‘ ĺł
ĚijłijĵĻŇŌ Łĸ Ňĺķ ĺŌĶńŁĹķŀ ŇijŀĽŅ&#x0016;
– ĽĹ ĺŌĶńŁĹķŀ &#x000B;ĹijŅķŁňŅ&#x000C;
ĘĵĵķľķńijŇĻŁŀ $‘ ĽĿ&#x001F;ĺ &#x000B;–’ Ŀłĺ&#x000C; ó – Ņ
ĬŁł ŅłķķĶ&#x0016;
Ħʼnķń ‘˜ ĽĿ&#x001F;ĺ &#x000B;‘‘’ Ŀłĺ&#x000C;

ĤķĶĻij ĻŀĸŁńĿijŇĻŁŀ

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ĝķĴńňijń
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ĚŁńłŁńijŇķ ĚŁĿĿňŀĻĵijŇĻŁŀŅ

ğŌĶńŁĹķŀ ĵŁŀŅňĿłŇĻŁŀ Ļŀ Ňĺķ įģĬħ ĵŌĵľķ&#x0016;
‘&#x0014;‘™ ĽĹ&#x001F;‘ ĽĿ
ĩijŀĹķ Ļŀ Ňĺķ įģĬħ ĵŌĵľķ&#x0016;
•” ĽĿ &#x000B;“‘“ ĿĻľķŅ&#x000C;

ĝĚĜĮ ŇķĵĺŀŁľŁĹŌ ĵŁŀŇńĻĴňŇķŅ ŇŁ ĶķĵijńĴŁŀĻŅijŇĻŁŀ

Ĭĺķ ęĤį ĞńŁňł ĻŅ Ňĺķ ĸĻńŅŇ ĞķńĿijŀ ĵijńĿijĽķń ŇŁ ĺijʼnķ ļŁĻŀķĶ Ňĺķ -ęňŅĻŀķŅŅ
ĘĿĴĻŇĻŁŀ ĸŁń ‘&#x0014;•&#x0008;Ě ĵijĿłijĻĹŀ. ľķĶ ĴŌ Ňĺķ ĪĵĻķŀĵķ ęijŅķĶ ĬijńĹķŇŅ ĻŀĻŇĻijŇĻʼnķ ijŀĶ
ĻŅ ĵŁĿĿĻŇŇķĶ ŇŁ ijĵĺĻķʼnĻŀĹ Ňĺķ ĹŁijľ Łĸ ĸňľľ ĵľĻĿijŇķ ŀķňŇńijľĻŇŌ ŇĺńŁňĹĺŁňŇ Ňĺķ
ʼnijľňķ ĵĺijĻŀ&#x0014;

Ĭĺķ ŀķŋŇ ŅŇķł Ļŀ ŇĺĻŅ łńŁĵķŅŅ ĻŀʼnŁľʼnķŅ Ňĺķ ęĤį ĞńŁňł1Ņ łľijŀ ŇŁ ńķĶňĵķ ĚĦ
’

ķĿĻŅŅĻŁŀŅ łķń ʼnķĺĻĵľķ Łʼnķń ĻŇŅ ĸňľľ ľĻĸķĵŌĵľķ % Ļ&#x0014;ķ&#x0014; ŅňłłľŌ ĵĺijĻŀ&#x0015; łńŁĶňĵŇĻŁŀ ijŀĶ
ňŅķ łĺijŅķ % ĴŌ ijŇ ľķijŅŇ ” łķń ĵķŀŇ ĴŌ ’“ ĵŁĿłijńķĶ ŊĻŇĺ ’‘™&#x0014;

Ĭĺķ ęĤį ĞńŁňł ŅŁľĶ ĿŁńķ Ňĺijŀ ’‘•&#x0015; ĸňľľŌ ķľķĵŇńĻĵ ʼnķĺĻĵľķŅ ŊŁńľĶŊĻĶķ Ļŀ
’’’&#x0015; ŊĺĻĵĺ ńķłńķŅķŀŇŅ ijŀ ĻŀĵńķijŅķ Łʼnķń Ňĺķ łńķʼnĻŁňŅ Ōķijń Łĸ ijľĿŁŅŇ ‘˜ łķń
ĵķŀŇ&#x0014; ĝňľľŌ ķľķĵŇńĻĵ ʼnķĺĻĵľķŅ ijĵĵŁňŀŇķĶ ĸŁń ļňŅŇ ňŀĶķń ™ łķń ĵķŀŇ Łĸ ŇŁŇijľ ŅijľķŅ
ʼnŁľňĿķŅ ľijŅŇ Ōķijń&#x0015; ijŀĶ ŇĺĻŅ Ņĺijńķ ĻŅ ŅķŇ ŇŁ ĻŀĵńķijŅķ ŇŁ ‘• łķń ĵķŀŇ Ļŀ ’’“&#x0014;

ęŌ ’“ ijŇ Ňĺķ ľijŇķŅŇ&#x0015; Ňĺķ ęĤį ĞńŁňł ĻŅ ľŁŁĽĻŀĹ ŇŁ ńķijĵĺ ij ŅĻŇňijŇĻŁŀ Ŋĺķńķ
ĸňľľŌ ķľķĵŇńĻĵ ʼnķĺĻĵľķŅ ĵľijĻĿ ij ĿŁńķ Ňĺijŀ • łķń ĵķŀŇ Ņĺijńķ Łĸ ĻŇŅ Łʼnķńijľľ ŅijľķŅ&#x0014;

Ĭĺķ ęĤį ĞńŁňł ʼnĻķŊŅ ĝĚĜĮ ŇķĵĺŀŁľŁĹŌ ķŋłńķŅŅľŌ ijŅ ij łŁŇķŀŇĻijľ ijĶĶĻŇĻŁŀ ŇŁ
Ňĺķ ĶńĻʼnķ ŇķĵĺŀŁľŁĹŌ ňŅķĶ ĴŌ ĴijŇŇķńŌ$ķľķĵŇńĻĵ ʼnķĺĻĵľķŅ&#x0014;

ğŌĶńŁĹķŀ ijŅ łijńŇ Łĸ ĹľŁĴijľ ijĵŇĻʼnĻŇĻķŅ ĸŁń ĚĦ
’
$ĸńķķ ĿŁĴĻľĻŇŌ
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