7UDIQLHVNDUĪąF\SRGQRVLLĪSR]ZDQLQLH]DSU]HF]\OLWHPXĪHĪDGHQVWRVXQHNXPRZQ\QLHáąF]\áLFKWDN]H 6NDUEHP3DĔVWZDMDNLQDVWĊSQLH]SRZRGRZ\P3U]HGVLĊELRUVWZHP6WąGJG\E\SR]ZDQD6WHIDQLD3 QLHZ\ND]DáDVZHMREURQ\DPDWHULDáSURFHVRZ\GDZDáSRGVWDZĊGRX]QDQLDĪHRGZáDĞFLFLHOD SU]HGPLRWRZHG]LDáNLSU]HMĊáRZ]DU]ąGSRZRGRZH3U]HGVLĊELRUVWZRWRQLHE\áRE\SU]HFLZZVND]DĔGR NZHVWLRQRZDQLDVWDQRZLVND6ąGX5HMRQRZHJRĪHEXG\QNLVWRMąFHQDW\FKG]LDáNDFK]DMPXMąSR]ZDQLEH] W\WXáXSUDZQHJR:WDNLHMV\WXDFMLSRZyG]WZRZLQG\NDF\MQHMDNWRZVND]XMHDUW†NFSRZLQQR E\üXZ]JOĊGQLRQH=HVSyáRNROLF]QRĞFLZĞZLHWOHNWyU\FKEH]]ZáRF]QHZ\GDQLHSU]H]SR]ZDQ\FK QLHUXFKRPRĞFLF]\WHĪW\ONRVDP\FKEXG\QNyZE\áRE\GODQLFKV]F]HJyOQLHGRWNOLZHPyJáE\VNXWNRZDü MHG\QLHVNRU]\VWDQLHSU]H]VąGRU]HNDMąF\]XSUDZQLHQLDGRRGURF]HQLDUHDOL]DFMLRU]HF]HQLD XZ]JOĊGQLDMąFHJRSRZyG]WZRZLQG\NDF\MQH DUWNSF -HGQDNĪHMDNGRWąGSR]ZDQLRJUDQLF]\OL VLĊGRRGZRá\ZDQLDVLĊGRGáXJROHWQLHJRSRVLDGDQLDJUXQWyZLEXG\QNyZ3U]HFLZNRSR]ZDQHMZ\GDMHVLĊ SU]HPDZLDüLWRĪHMDNSRGQLRVáDZVZHMREURQLHSRSU]HFLZQHMVWURQLHGURJLPDZáDVQHJRVSRGDUVWZR UROQH7UXGQRZLĊFX]QDüDE\KRGRZODNXUQDSU]HGPLRWRZHMG]LDáFHPLDáDSU]\QRVLüMHMXVSUDZLHGOLZLRQH X]XSHáQLHQLHEXGĪHWX,ZWHMV\WXDFMLQDOHĪDáRE\X]QDüĪHRGGDOHQLHSRZyG]WZDQLHPLDáRZĞZLHWOH ]HEUDQHJRGRWąGPDWHULDáXX]DVDGQLHQLDZSRZRáDQ\FKSU]H]VNDUĪąFHJRSU]HSLVDFKSUDZDPDWHULDOQHJR =DFKRG]LZNRQVHNZHQFMLSLHUZV]DSRGVWDZDUHZL]MLQDG]Z\F]DMQHM]DUW  †NSF 'ODWHJR]DVNDUĪRQ\Z\URNXFK\ORQR DUW†NSF  5R]VWU]\JQLĊFLHRZSLVLHRGUHZL]MLQDG]Z\F]DMQHM]QDMGXMHX]DVDGQLHQLHZSU]HSLVLHDUWSRNV