How to create a budget-friendly travel itinerary for a family vacation

kAmu2>:=J G242E:@?D 4C62E6 >6>@C:6D E92E =2DE 2 =:76E:>6 — E96 7:CDE E:>6 J@FC <:5D D66 E96 @462?[ E96 42>A7:C6 DE@C:6D F?56C E96 DE2CD @C =2F89E6C 5FC:?8 2 C@25 EC:A D:?8\2=@?8] qFE H96? J@F’C6 3F586E:?8 7@C 2 72>:=J[ E92E 5C62> 86E2H2J @7E6? 766=D @FE @7 C6249] #:D:?8 4@DED 7@C 7=:89ED[ 9@E6=D 2?5 52:=J 6IA6?D6D >2<6 6G6? 2 D:>A=6 EC:A 766= @G6CH96=>:?8]k^Am

kAm(:E9 D>2CE A=2??:?8 2?5 E96 C:89E DEC2E68:6D[ J@F 42? 4C62E6 2 >6>@C23=6 G242E:@? H:E9 AC:46=6DD >@>6?ED H9:=6 DE2J:?8 @? 3F586E] %96 D64C6E :D 2AAC@249:?8 J@FC EC:A H:E9 2 4=62C A=2?[ <?@H:?8 H96C6 E@ D2G6 2?5 F?56CDE2?5:?8 9@H E@ >2<6 6G6CJ 5@==2C 4@F?E]k^Am

kAm(96E96C J@F’C6 5C62>:?8 @7 2 36249 6D42A6[ 2 ?2E:@?2= A2C< 25G6?EFC6 @C 2 4:EJ 6IA=@C2E:@?[ 4C62E:?8 2 3F586E\7C:6?5=J EC2G6= :E:?6C2CJ DE2CED H:E9 2 76H 7@F?52E:@?2= DE6AD] uC@> 49@@D:?8 E96 C:89E 56DE:?2E:@? E@ 3@@<:?8 2E E96 @AE:>2= E:>6[ D>2== 564:D:@?D 255 FA E@ D:8?:7:42?E D2G:?8D] (:E9 E:AD 7C@> k2 9C67lQ9EEADi^^46?EC2=A6??]222]4@>^nK:Al`f```U2>Aj56G:4645l!rU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lA2CE?6CD9:ADU2>AjFE>042>A2:8?l6>\DJ?5:42E:@?\3F586E7C:6?5=JEC2G6=:E:?6C2CJ72>:=JG242E:@?Qmppp r6?EC2= !6??k^2m[ J@F’== 5:D4@G6C 9@H E@ A=2? 2 3F586E\7C:6?5=J 72>:=J G242E:@? E92E’D C:49 :? 6IA6C:6?46D]k^Am

k9bmz6J %2<62H2JDk^9bm

kAm!=2??:?8 2 3F586E\7C:6?5=J 72>:=J G242E:@? :D 249:6G23=6 H:E9 E96 C:89E 2AAC@249] u@4FD @? E96D6 6DD6?E:2= DEC2E68:6Dik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ6hgd466a_aaad5ed__6d2bg52dbe27c4_QmkDEC@?8m$E2CE H:E9 2 C62=:DE:4 3F586Eik^DEC@?8m s6E6C>:?6 9@H >F49 J@F 42? DA6?5 2?5 3F:=5 J@FC :E:?6C2CJ 2C@F?5 E92E ?F>36C[ ?@E E96 @E96C H2J 2C@F?5]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6d_2h435366fddc_32dfc633h43hf`3a4QmkDEC@?8mr9@@D6 J@FC 56DE:?2E:@? DEC2E68:42==Jik^DEC@?8m %C2?DA@CE2E:@? 86?6C2==J 4@DED b_T E@ c_T @7 J@FC E@E2= G242E:@? 3F586E[ 244@C5:?8 E@ 2 k2 9C67lQ9EEADi^^HHH]6?5=6DDEC2G6=A=2?D]4@>^8F:56D^DEC2E68:4\A=2??:?8^2G6C286\72>:=J\G242E:@?\4@DEQma_ae t?5=6DD %C2G6= !=2?D 2CE:4=6k^2m[ >2<:?8 C@25 EC:AD @7E6? D:8?:7:42?E=J 4962A6C E92? 7=:89ED E@ 5:DE2?E =@42E:@?D]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6g2636`2g6ce7ad47efa`c3ga2efhbh3dQmkDEC@?8mq@@< 5FC:?8 D9@F=56C D62D@?ik^DEC@?8m %C2G6=:?8 5FC:?8 @77\A62< E:>6D D2G6D 72>:=:6D a_T E@ c_T @? 244@>>@52E:@?D 2?5 24E:G:E:6D[ 244@C5:?8 E@ t?5=6DD %C2G6= !=2?D]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6ec`63d66b`43_`4b5b5f5f_6ef4f_f_eQmkDEC@?8m!=2? >62=D H:D6=Jik^DEC@?8m !24<:?8 D?24<D 2?5 62E:?8 D@>6 >62=D 2E J@FC =@58:?8 AC6G6?ED 52:=J 7@@5 4@DED 7C@> DA:C2=:?8 @FE @7 4@?EC@=]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6_`e`6`b54_e2`5db`2526accb`2g7b6gQmkDEC@?8m|2I:>:K6 5:D4@F?ED 2?5 C6H2C5Dik^DEC@?8m &D6 4C65:E 42C5 A@:?ED[ >6>36CD9:A 36?67:ED 2?5 =@J2=EJ AC@8C2>D E@ C65F46 6IA6?D6D 2E 6G6CJ DE286]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6`5375_2bae3`a_da5decb`37_25665c_QmkDEC@?8m#6D62C49 7C66 24E:G:E:6Dik^DEC@?8m |2?J 56DE:?2E:@?D @776C ?@\4@DE 2EEC24E:@?D =:<6 A2C<D[ 362496D[ >FD6F>D H:E9 7C66\25>:DD:@? 52JD 2?5 4@>>F?:EJ 6G6?ED]k^=:mk^F=m

k9bm%96 x>A@CE2?46 @7 2 u2>:=J %C2G6= qF586Ek^9bm

kAmp EC2G6= 3F586E :D?’E 23@FE =:>:E:?8 J@FC 7F? — :E’D 23@FE 6>A@H6C:?8 J@FC 49@:46D] z?@H:?8 6I24E=J 9@H >F49 J@F’== DA6?5 8:G6D J@F E96 7C665@> E@ >2<6 :?E6?E:@?2= 564:D:@?D E92E 2=:8? H:E9 J@FC 72>:=J’D AC:@C:E:6D] s@ J@F G2=F6 2 ?:46C 9@E6=[ @C H@F=5 J@F C2E96C AFE E9@D6 7F?5D E@H2C5 >6>@C23=6 6IA6C:6?46Dn p 3F586E 96=AD J@F 2?DH6C E96D6 BF6DE:@?D 367@C6 J@F’C6 DE2?5:?8 2E 2 E:4<6E 4@F?E6C >2<:?8 CFD965 564:D:@?D]k^Am

kAmx? E@52J’D 64@?@>:4 4=:>2E6[ 3F586E:?8 92D 364@>6 6G6? >@C6 6DD6?E:2=] %96 2G6C286 G242E:@? 4@DE 7@C EH@ A6@A=6 C62496D k2 9C67lQ9EEADi^^HHH]A242D@]4@>^3=@8^2G6C286\G242E:@?\4@DEQmSc[dbe 7@C @?6 H66<k^2m[ 2?5 E92E 7:8FC6 4=:>3D D:8?:7:42?E=J H96? J@F 255 49:=5C6? E@ E96 >:I] u@C 2 72>:=J @7 7@FC[ 4@DED 42? 62D:=J 5@F3=6 @C EC:A=6 56A6?5:?8 @? 56DE:?2E:@? 49@:46D 2?5 EC2G6= DEJ=6]k^Am

kAmqF586E:?8 EC2?D7@C>D 2?I:6EJ :?E@ 24E:@?] x?DE625 @7 H@?56C:?8 :7 J@F’== 277@C5 2 EC:A[ J@F 4C62E6 2 C@25>2A E92E D9@HD 6I24E=J 9@H E@ >2<6 :E 92AA6?] *@F :56?E:7J H96C6 E@ DA=FC86 2?5 H96C6 E@ D2G6[ 6?DFC:?8 E92E 6G6CJ 5@==2C 4@?EC:3FE6D E@ 6IA6C:6?46D J@FC 72>:=J H:== EC62DFC6] p 3F586E 2=D@ AC6G6?ED E96 A@DE\G242E:@? 7:?2?4:2= 92?8@G6C E92E 4@>6D 7C@> @G6CDA6?5:?8 @? 4C65:E 42C5D @C 56A=6E:?8 6>6C86?4J D2G:?8D]k^Am

kAmp H6==\4C27E65 3F586E 6?92?46D J@FC G242E:@? 3J 8:G:?8 J@F A6246 @7 >:?5 7C@> E96 >@>6?E J@F DE2CE A=2??:?8 F?E:= J@F C6EFC? 9@>6]k^Am

k9bm$E6AD 7@C 2 qF586E\uC:6?5=J u2>:=J '242E:@?k^9bm

kAmrC62E:?8 2 3F586E\7C:6?5=J EC2G6= :E:?6C2CJ C6BF:C6D 3C62<:?8 5@H? E96 A=2??:?8 AC@46DD :?E@ >2?28623=6 DE6AD] t249 564:D:@? J@F >2<6 — 7C@> H96C6 J@F 8@ E@ 9@H J@F 86E E96C6 — :>A24ED J@FC 4@DED] qJ 2AAC@249:?8 J@FC EC:A >6E9@5:42==J[ J@F’== F?4@G6C D2G:?8D @AA@CEF?:E:6D 2E 6G6CJ DE286 H9:=6 3F:=5:?8 2? :E:?6C2CJ E92E 56=:G6CD >2I:>F> G2=F6 7@C J@FC :?G6DE>6?E]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_h^b_^$E6AD\7@C\2\qF586E\uC:6?5=J\u2>:=J\'242E:@?]A?8Q 2=ElQp? :?7@8C2A9:4 D9@H:?8 E96 6DD6?E:2= DE6AD 7@C 2 3F586E\7C:6?5=J 72>:=J G242E:@?]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mppp r6?EC2= !6??k^7:842AE:@?mk^7:8FC6m

k9bmk3C ^m$6EE:?8 2 qF586Ek^9bm

kAmq67@C6 J@F 3@@< 2?JE9:?8[ 6DE23=:D9 J@FC 7:?2?4:2= 7@F?52E:@?] $E2CE 3J 56E6C>:?:?8 J@FC E@E2= EC2G6= 3F586E] #6G:6H J@FC >@?E9=J :?4@>6 2?5 6IA6?D6D E@ 56E6C>:?6 9@H >F49 J@F 42? C62=:DE:42==J D6E 2D:56 7@C 2 G242E:@?] %9:D >:89E :?G@=G6 D2G:?8 @G6C D6G6C2= >@?E9D @C 2==@42E:?8 7F?5D 7C@> 2 DA64:7:4 D@FC46[ DF49 2D 2 E2I C67F?5 @C 3@?FD] q6 9@?6DE 23@FE H92E J@F’== 277@C5 — F?56C6DE:>2E:?8 4@DED =625D E@ DEC6DD 2?5 @G6CDA6?5:?8 @?46 J@F’C6 @? E96 C@25]k^Am

kAm~?46 J@F 92G6 J@FC E@E2=[ 564:56 H9:49 3F586E DECF4EFC6 H@C<D 36DE 7@C J@FC 72>:=Jik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ6a23`e_a_cf227gfd_dbahd55cg`aadc`QmkDEC@?8mt?G6=@A6\DEJ=6ik^DEC@?8m $@>6 72>:=:6D AC676C 2? 6?G6=@A6\DEJ=6 3F586E[ 2==@42E:?8 DA64:7:4 2>@F?ED E@ 42E68@C:6D =:<6 EC2?DA@CE2E:@?[ =@58:?8[ 7@@5 2?5 24E:G:E:6D]k^=:mk=: 52E2\=:DE\:E6>\:5lQ637h5ea`a_7efd2_63db5da57a_da`a_5QmkDEC@?8m+6C@\32D65ik^DEC@?8m ~E96C 72>:=:6D FD6 2 K6C@\32D65 3F586E[ 2DD:8?:?8 6G6CJ 5@==2C 2 AFCA@D6 367@C6 E96 EC:A 368:?D]k^=:mk=: 52E2\=:DE\:E6>\:5lQ65e334754bc2b6baad2f_e7gh`g253`6dQmkDEC@?8ms:8:E2= 3F586E:?8ik^DEC@?8m s:8:E2= 3F586E:?8 2AAD 96=A J@F EC24< 6IA6?D6D :? C62= E:>6[ 6?DFC:?8 J@F DE2J @? E2C86E E9C@F89@FE J@FC ;@FC?6J]k^=:mk^F=m

kAm(92E6G6C >6E9@5 J@F 49@@D6[ 3F:=5 :? 2 4FD9:@? 7@C F?6IA64E65 6IA6?D6D — D@FG6?:CD[ A2C<:?8 766D 2?5 F?A=2??65 D?24<D 92G6 2 H2J @7 2AA62C:?8 H96? J@F =62DE 6IA64E E96>]k^Am

k9bm!:4<:?8 2 s6DE:?2E:@?k^9bm

kAm(:E9 J@FC 3F586E 7C2>6H@C< :? A=246[ :E’D ?@H E:>6 E@ 49@@D6 J@FC 56DE:?2E:@?] %9:D 49@:46 5C2>2E:42==J 27764ED J@FC 3@EE@> =:?6] %C2?DA@CE2E:@? 4@DED EJA:42==J 244@F?E 7@C b_T E@ c_T @7 J@FC E@E2= G242E:@? 6IA6?D6D[ 244@C5:?8 E@ t?5=6DD %C2G6= !=2?D[ >2<:?8 E96 5:776C6?46 36EH66? 2 C@25 EC:A 2?5 2 7=:89E D:8?:7:42?E] u@C 6I2>A=6[ 2 5C:G6 E@ 2 ?2E:@?2= A2C< E9C66 9@FCD 2H2J >2J 4@DE Sd_[ H9:=6 7=:89ED 7@C 2 72>:=J @7 7@FC E@ 2 36249 56DE:?2E:@? 4@F=5 6I4665 S`[a__]k^Am

kAmtIA=@C6 56DE:?2E:@?D H:E9:? 5C:G:?8 5:DE2?46 7:CDE] $E2E6 A2C<D[ ?62C3J 4:E:6D H:E9 72>:=J\7C:6?5=J 2EEC24E:@?D 2?5 C68:@?2= 56DE:?2E:@?D AC@G:56 C:49 6IA6C:6?46D 2E 2 7C24E:@? @7 E96 4@DE @7 5:DE2?E EC2G6=] x7 J@F’C6 D6E @? 2 =@42E:@? E92E C6BF:C6D 7=J:?8[ 724E@C :? E96 >2;@C 6IA6?D6 7C@> E96 DE2CE 2?5 25;FDE @E96C 42E68@C:6D 244@C5:?8=J] $@>6E:>6D[ E96 >@DE >6>@C23=6 G242E:@?D 92AA6? 4=@D6C E@ 9@>6 E92? J@F’5 :>28:?6]k^Am

k9bmq@@<:?8 %C2?DA@CE2E:@? 2?5 {@58:?8k^9bm

kAm%:>:?8 2?5 7=6I:3:=:EJ 2C6 J@FC 8C62E6DE 2==:6D H96? 3@@<:?8 E96 >2;@C 4@>A@?6?ED @7 J@FC EC:A] !6C t?5=6DD %C2G6= A=2?D[ D9@F=56C\D62D@? EC2G6= D2G6D 72>:=:6D a_T E@ c_T 4@>A2C65 E@ A62< EC2G6= E:>6D] $9@F=56C D62D@? C676CD E@ E96 A6C:@5D ;FDE 367@C6 2?5 27E6C 9:89 D62D@? — =2E6 DAC:?8 @C 62C=J 72== 7@C >2?J 36249 56DE:?2E:@?D[ @C >:5H66< DE2JD :?DE625 @7 H66<6?5 86E2H2JD] *@F 86E D>2==6C 4C@H5D[ >@C6 2EE6?E:G6 D6CG:46 2?5 =@H6C AC:46D 5FC:?8 E96D6 H:?5@HD]k^Am

kAmr@>A2C:?8 244@>>@52E:@? @AE:@?D C6BF:C6D E9:?<:?8 36J@?5 E96 ?:89E=J C2E6] p 9@E6= C@@> H:E9 2 <:E496?6EE6 >:89E 4@DE >@C6 A6C ?:89E E92? 2 DE2?52C5 C@@>[ 3FE :E 4@F=5 D2G6 J@F S`__ A6C 52J @C >@C6 @? C6DE2FC2?E >62=D] '242E:@? C6?E2=D AC@G:56 7F== <:E496?D[ >F=E:A=6 365C@@>D 2?5 =2F?5CJ 724:=:E:6D[ @776C:?8 3@E9 4@>7@CE 2?5 4@DE D2G:?8D 7@C 72>:=:6D A=2??:?8 =@?86C DE2JD] r2=4F=2E6 E96 E@E2= G2=F6[ ?@E ;FDE E96 FA\7C@?E 4@DE]k^Am

k9bm!24<28:?8 s62=Dk^9bm

kAmqF?5=:?8 J@FC 7=:89E 2?5 9@E6=[ @C 4@>3:?:?8 244@>>@52E:@?D H:E9 2EEC24E:@? E:4<6ED[ @7E6? J:6=5D 36EE6C AC:4:?8 E92? 3@@<:?8 6249 4@>A@?6?E D6A2C2E6=J] %96D6 A24<286D 2=D@ D:>A=:7J A=2??:?8[ 8:G:?8 J@F @?6 =6DD 564:D:@? E@ >2?286] r@>A2C6 AC:46D 24C@DD >F=E:A=6 3@@<:?8 A=2E7@C>D E@ 6?DFC6 J@F’C6 86EE:?8 E96 36DE 562= — D@>6E:>6D[ 3@@<:?8 5:C64E=J H:E9 9@E6=D @776CD A6C<D =:<6 7C66 3C62<72DE @C C@@> FA8C256D E92E E9:C5\A2CEJ D:E6D 5@?’E 25G6CE:D6]k^Am

kAmu:?5 277@C523=6 EC2G6= @AE:@?D 3J 3@@<:?8 7=:89ED 5FC:?8 @77\A62< 9@FCD :7 J@FC D4965F=6 2==@HD] t2C=J\>@C?:?8 @C =2E6\6G6?:?8 56A2CEFC6D EJA:42==J 4@DE =6DD E92? >:552J @AE:@?D] u@C 42C C6?E2=D[ 4@>A2C6 AC:46D 7C@> 2:CA@CE =@42E:@?D G6CDFD @77\D:E6 724:=:E:6D]k^Am

k9bm$ECF4EFC:?8 2 uCF82= s2:=J xE:?6C2CJk^9bm

kAms2:=J G242E:@? 4@DED 56C2:= 6G6? E96 >@DE 42C67F==J A=2??65 3F586E :7 J@F 5@?’E >2?286 E96> :?E6?E:@?2==J] %96 2G6C286 52:=J 7@@5 4@DE 7@C 2 k2 9C67lQ9EEADi^^HHH]?2GJ7656C2=]@C8^>2<:?846?ED^D2G:?8D\3F586E:?8^EC2G6=\E:AD\E@\DEC6E49\J@FC\7@@5\3F586E]9E>=RiOiE6IElu2>:=JTa_D:K6Ta_>F=E:A=:6DTa_>62=Ta_4@DED[56=:G6CJTa_766DTarTa_6E4]Qm72>:=J @7 7@FC C62496D Sa__k^2m[ F?56CD4@C:?8 E92E E9C66 C6DE2FC2?E >62=D A6C 52J 42? 4@?DF>6 2 D:8?:7:42?E A2CE @7 J@FC 3F586E] ~G6C 2 H66<=@?8 EC:A[ E92E’D S`[c__ ;FDE 7@C >62=D — >@C6 E92? E96 4@DE @7 =@58:?8 :? >2?J 56DE:?2E:@?D]k^Am

kAmr@>32E E9:D 3J A=2??:?8 2 >:I @7 5:?:?8 6IA6C:6?46D] !24< D?24<D 7@C E96 42C @C 52J @FE:?8D — 8C2?@=2 32CD[ 7CF:E 2?5 D2?5H:496D AC6G6?E 6IA6?D:G6 :>AF=D6 AFC492D6D 2E E@FC:DE EC2AD] t?;@J E96 4@>A=:>6?E2CJ 3C62<72DE :7 2G2:=23=6 @C AC6A2C6 D:>A=6 >62=D :? J@FC C@@>] #6D6CG6 C6DE2FC2?E G:D:ED 7@C 5:??6C[ >2<:?8 E96> DA64:2= 6G6?ED C2E96C E92? 5672F=E 49@:46D] !:4< @?6 @C EH@ “DA=FC86 >62=D” E@ ECJ =@42= DA64:2=E:6D @C 5:?6 2E 2 >FDE\G:D:E C6DE2FC2?E[ E96? 32=2?46 E96> H:E9 3F586E\7C:6?5=J @AE:@?D E9C@F89@FE E96 C6DE @7 J@FC EC:A]k^Am

kAmp4E:G:E:6D C6AC6D6?E 2?@E96C 2C62 H96C6 C6D62C49 A2JD 5:G:56?5D] tG6CJ 56DE:?2E:@? @776CD 7C66 @C =@H\4@DE @AE:@?D :7 J@F <?@H H96C6 E@ =@@<ik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ6``b_7hhabfhd7f367b52ah_gb`75ach5Qmr:EJ A2C<D[ AF3=:4 362496D[ 9:<:?8 EC2:=D 2?5 A=2J8C@F?5D 4@DE ?@E9:?8 3FE 56=:G6C 9@FCD @7 72>:=J 7F?]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6ccg2f7_ggedfb6b2g453f6ha27`_c_75Qm|FD6F>D @7E6? @776C 7C66\25>:DD:@? 52JD @C 5:D4@F?E65 6G6?:?8 9@FCD]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6h5743g2h7`6c2gdf34cb72g7a2gab_c_Qm{@42= E@FC:D> H63D:E6D 9:89=:89E 4@>>F?:EJ 6G6?ED =:<6 @FE5@@C 4@?46CED[ 76DE:G2=D @C 72C>6CD >2C<6ED E92E H6=4@>6 G:D:E@CD 2E ?@ 492C86]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6c``76ed2`6ggfdf7g546cdgcda4ac7c2Qm$E2E6 2?5 ?2E:@?2= A2C<D EJA:42==J 492C86 >:?:>2= 6?EC2?46 766D H9:=6 AC@G:5:?8 H@C=5\4=2DD ?2EFC2= 2EEC24E:@?D]k^=:mk^F=m

kAm!2J:?8 7@C 24E:G:E:6D C6BF:C6D AC:@C:E:K:?8 6IA6C:6?46D E92E 2=:8? H:E9 J@FC 72>:=J’D :?E6C6DED] ~?6 >6>@C23=6 52J 2E 2 E96>6 A2C<[ H96C6 J@FC 49:=5C6? 92G6 366? 5C62>:?8 23@FE 2 C:56[ >:89E 36 H@CE9 >@C6 E92? E9C66 >65:@4C6 A2:5 2EEC24E:@?D] "F2=:EJ @G6C BF2?E:EJ 2AA=:6D E@ 72>:=J EC2G6= @? 2 3F586E ;FDE 2D >F49 2D :E 5@6D E@ 2?J @E96C 2DA64E @7 =:76] {@@< 7@C 4@>3:?2E:@? E:4<6ED @C 4:EJ A2DD6D E92E 3F?5=6 2EEC24E:@?D 2E 2 C65F465 C2E6 :7 J@F A=2? E@ G:D:E D6G6C2= A2:5 D:E6D]k^Am

k9bm{6G6C28:?8 %C2G6= s:D4@F?ED 2?5 #6H2C5Dk^9bm

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_h^b_^{6G6C286\%C2G6=\s:D4@F?ED\2?5\#6H2C5D]A?8Q 2=ElQp? :?7@8C2A9:4 D9@H:?8 E96 H2JD E@ =6G6C286 EC2G6= 5:D4@F?ED 2?5 C6H2C5D]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?mppp r6?EC2= !6??k^7:842AE:@?mk^7:8FC6m

kAm$>2CE EC2G6=6CD <?@H E92E >2?J 5:D4@F?E @AA@CEF?:E:6D 6I:DE 7@C E9@D6 H:==:?8 E@ D66< E96> @FE[ FD:?8 A@:?ED 2?5 C6H2C5D E@ 4@G6C EC2G6= 6IA6?D6D] %96 <6J :D DE24<:?8 E96D6 D2G:?8D DEC2E68:42==J E@ >2I:>:K6 J@FC 3F586E’D :>A24Eik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ6h4cbda4d7d6c4ge2gad_3f5df6`d627cQmkDEC@?8m#6G:6H J@FC 4C65:E 42C5 36?67:EDik^DEC@?8m |2?J 42C5D @776C 42D9 324< @? EC2G6= AFC492D6D @C 2==@H J@F E@ 244F>F=2E6 A@:?ED C6566>23=6 7@C 7=:89ED[ 9@E6=D @C DE2E6>6?E 4C65:ED] $@>6 42C5D AC@G:56 3@?FD A@:?ED 7@C EC2G6=\C6=2E65 DA6?5:?8[ 2446=6C2E:?8 J@FC C6H2C5D 244F>F=2E:@?]k^=:mk=: 52E2\=:DE\:E6>\:5lQ625_ef27hg6f`f3ac5d44`bdacgcd42`fQmkDEC@?8m#6566> J@FC A@:?EDik^DEC@?8m x7 J@F’G6 366? 62C?:?8 A@:?ED E9C@F89@FE E96 J62C[ 2 72>:=J G242E:@? AC6D6?ED E96 A6C764E @AA@CEF?:EJ E@ C6566> E96>] r2=4F=2E6 E96 C656>AE:@? G2=F6 42C67F==J — D@>6E:>6D[ FD:?8 A@:?ED 7@C 6IA6?D:G6 7=:89ED 56=:G6CD >@C6 G2=F6 E92? C6566>:?8 E96> 7@C 9@E6= DE2JD @C DE2E6>6?E 4C65:ED] p55:E:@?2==J[ <66A :? >:?5 E92E >6>36CD9:A AC@8C2>D 6IE6?5 36J@?5 4C65:E 42C5D] %96D6 D2G:?8D 2AA=J E@ 3@E9 E96 3@@<:?8 AC@46DD 2?5 @?\D:E6 AFC492D6D[ 96=A:?8 J@F C65F46 4@DED 7C@> A=2??:?8 E9C@F89 J@FC EC:A]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6c3ce75724_ah6g3ebh2``hh_gea442g5QmkDEC@?8mr@?DF=E 5:D4@F?E A=2E7@C>Dik^DEC@?8m %9:C5\A2CEJ 5:D4@F?E A=2E7@C>D 2=D@ >6C:E 6IA=@C2E:@?] (63D:E6D DA64:2=:K:?8 :? G242E:@? A24<286D[ =2DE\>:?FE6 9@E6= 562=D @C 3F?5=65 2EEC24E:@?D @776C D:8?:7:42?E D2G:?8D[ A2CE:4F=2C=J :7 J@F >2:?E2:? 7=6I:3:=:EJ H:E9 J@FC EC2G6= 52E6D] $:8? FA 7@C 6>2:= 2=6CED 7C@> E96D6 A=2E7@C>D E@ C646:G6 ?@E:7:42E:@?D 23@FE 562=D E92E >2E49 J@FC 56D:C65 56DE:?2E:@?D] *@F 42? 2=D@ 5@H?=@25 2AAD E92E @776C 42D9 324< @C A@:?ED 7@C 6G6CJ52J AFC492D6D =625:?8 FA E@ J@FC EC:A[ E96? C6566> E9@D6 C6H2C5D 7@C EC2G6= 6IA6?D6D]k^=:mk^F=m

kAms@?’E @G6C=@@< E96 A@H6C @7 2D<:?8 5:C64E=J] q@@<:?8 244@>>@52E:@?D 3J A9@?6 =6ED J@F 2D< 23@FE F?AF3=:D965 C2E6D @C DA64:2= @776CD] w@E6=D H@F=5 C2E96C 7:== C@@>D 2E 2 >@56DE 5:D4@F?E E92? =62G6 E96> 6>AEJ[ D@ 5@?’E 96D:E2E6 E@ ?68@E:2E6[ 6DA64:2==J :7 J@F’C6 3@@<:?8 >F=E:A=6 C@@>D @C 2? 6IE6?565 DE2J]k^Am

k9bm!C24E:4:?8 $FDE2:?23=6 %C2G6= %:ADk^9bm

kAmt4@\4@?D4:@FD 564:D:@?D E9C@F89@FE J@FC EC:A 255 FA E@ D:8?:7:42?E D2G:?8D[ AC@G:?8 E92E 3F586E\7C:6?5=J EC2G6= 2?5 C6DA@?D:3=6 E@FC:D> 8@ 92?5 :? 92?5] w6C6 2C6 D@>6 A@:?ED E@ 4@?D:56Cik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ67a32a4f537ff6a6hd56ba7gdehebcdfaQmkDEC@?8m%C2?DA@CE2E:@?ik^DEC@?8m !F3=:4 EC2?DA@CE2E:@? @776CD @?6 @7 E96 >@DE :>A24E7F= H2JD E@ D2G6 >@?6J 2?5 >:?:>:K6 J@FC 42C3@? 7@@EAC:?E] qFD6D[ EC2:?D 2?5 DF3H2JD 4@DE 2 7C24E:@? @7 C6?E2= 42CD @C C:56\D92C:?8 D6CG:46D :? >@DE 4:E:6D] |2?J 4:E:6D @776C >F=E:52J EC2?D:E A2DD6D 2E 5:D4@F?E65 C2E6D[ >2<:?8 E9:D @AE:@? 6G6? >@C6 64@?@>:42=]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6g7gc77h7733_eh65f_2_736adf2_hdhfQmkDEC@?8m{@58:?8ik^DEC@?8m t4@\7C:6?5=J =@58:?8 AC@G:56D 2?@E96C @AA@CEF?:EJ E@ 2=:8? DFDE2:?23:=:EJ H:E9 D2G:?8D] w@E6=D 2?5 G242E:@? C6?E2=D H:E9 8C66? 46CE:7:42E:@?D FD6 6?6C8J\677:4:6?E DJDE6>D E92E =@H6C @A6C2E:?8 4@DED — D2G:?8D E96J A2DD @? E@ 8F6DED E9C@F89 4@>A6E:E:G6 C2E6D] !C@A6CE:6D E92E @776C C67:==23=6 E@:=6EC:6D[ H2E6C DE2E:@?D 2?5 C64J4=:?8 AC@8C2>D C65F46 H2DE6 H9:=6 <66A:?8 C@@> AC:46D 277@C523=6]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6h7325f65ccecfh7fac3b75ab7e7dc`f7QmkDEC@?8m~E96C 49@:46Dik^DEC@?8m $>2== 49@:46D E9C@F89@FE J@FC EC:A 4@>A@F?5 E96 D2G:?8D] r2CCJ:?8 C67:==23=6 H2E6C 3@EE=6D 6=:>:?2E6D E96 ?665 E@ 3FJ 3@EE=65 H2E6C 2E E@FC:DE AC:46D[ 2?5 E96J’C6 2? 64@\7C:6?5=:6C @AE:@?] !24<:?8 C6FD23=6 D9@AA:?8 328D[ FE6?D:=D 2?5 4@?E2:?6CD 7@C =67E@G6CD >:?:>:K6D D:?8=6\FD6 A=2DE:4 AFC492D6D H9:=6 C65F4:?8 >62= H2DE6]k^=:mk^F=m

kAm%96D6 DFDE2:?23=6 AC24E:46D E6249 49:=5C6? G2=F23=6 =6DD@?D 23@FE 6?G:C@?>6?E2= DE6H2C5D9:A H9:=6 56>@?DEC2E:?8 E92E C6DA@?D:3=6 49@:46D 5@?’E C6BF:C6 D24C:7:46] *@FC 72>:=J 6?;@JD E96 D2>6 6IA6C:6?46D 2E =@H6C 4@DED[ 2?5 J@F C6EFC? 9@>6 <?@H:?8 J@FC G242E:@? =67E 2 =:89E6C 7@@EAC:?E @? E96 56DE:?2E:@?D J@F G:D:E65]k^Am

k9bm|2<6 {2DE:?8 |6>@C:6D @? 2 $>2CE qF586Ek^9bm

kAm%96 36DE 72>:=J G242E:@?D 2C6 567:?65 3J E96 >@>6?ED J@F D92C6] p H6==\A=2??65[ 3F586E\7C:6?5=J EC:A 56=:G6CD ;FDE 2D >F49 ;@J 2?5 4@??64E:@? 2D 2? 6IA6?D:G6 C6D@CE DE2J] %96 <6J :D AC6A2C2E:@?[ D>2CE 49@:46D 2?5 <?@H:?8 H96C6 E@ 7:?5 G2=F6] u@C A6CD@?2=:K65 96=A 2?5 6IA6CE 25G:46 @? >2<:?8 E96 >@DE @7 J@FC EC2G6= 3F586E[ 4@?D:56C DA62<:?8 H:E9 2 EC2G6= AC@76DD:@?2= H9@ 42? 8F:56 J@F E@ E96 36DE 562=D 2?5 56DE:?2E:@?D 7@C J@FC 72>:=J’D F?:BF6 ?665D] (:E9 E96 C:89E A=2??:?8 2?5 DFAA@CE[ J@FC 5C62> G242E:@? :D 4=@D6C E92? J@F E9:?<]k^Am

kAmk2 9C67lQ9EEADi^^46?EC2=A6??]222]4@>^3=@8^3F586E\7C:6?5=J\72>:=J\G242E:@?\:E:?6C2CJ^nK:Al`f```U2>Aj56G:4645l!rQmk6>m%9:D DE@CJk^6>mk^2m k6>mH2D AC@5F465 3Jk^6>m k2 9C67lQ9EEADi^^46?EC2=A6??]222]4@>^nK:Al`f```U2>Aj56G:4645l!rU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lA2CE?6CD9:ADU2>AjFE>042>A2:8?l6>\DJ?5:42E:@?\3F586E7C:6?5=JEC2G6=:E:?6C2CJ72>:=JG242E:@?Qmk6>mppp r6?EC2= !6??k^6>mk^2m k6>m2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2m]k^Am