SU]HGPLRWHPSRVWĊSRZDQLDSU]HG7U\EXQDáHPSRVWĊSRZDQLHSU]\JRWRZDZF]HRV\JQDNW>@ .UDMRZ\.RPLWHW:\NRQDZF]\.33 GDOHM..:.33 ZSLĞPLH]OXWHJRUSRGSLVDQ\PSU]H] MHJRSU]HZRGQLF]ąFHJR]DMąáVWDQRZLVNRZVSUDZLHZQRV]ąFRRU]HF]HQLHĪH  FHOHSDUWLLRNUHĞORQHZMHMVWDWXFLHRUD]SURJUDPLHVą]JRGQH].RQVW\WXFMą  G]LDáDOQRĞüSDUWLLQLH]DNáDGDDQLQLHGRSXV]F]DVWRVRZDQLDSU]HPRF\ZFHOX]GRE\FLDZáDG]\DQL ZSá\ZXQDSROLW\NĊSDĔVWZDLRXPRU]HQLHSRVWĊSRZDQLDZSR]RVWDá\P]DNUHVLH  G]LDáDOQRĞüSDUWLLMHVW]JRGQD].RQVW\WXFMą ..:.33ZVND]DáĪHRNROLF]QRĞFLSU]HGVWDZLDQHSU]H]3*Vą]ELRUHPSU]HLQDF]HĔGRP\VáyZ ZDGOLZ\FKV\ORJL]PyZLVRIL]PDWyZ 3RGNUHĞOLáWDNĪHĪH.33RSRZLDGDVLĊ]DV\VWHPHPGHPRNUDW\F]Q\PLUR]ZRMHPGHPRNUDFMLD]DWHP VSU]HFLZLDVLĊWRWDOLWDU\]PRZL =GDQLHP..:.33NUHRZDQ\ZĞURGNDFKPDVRZHJRSU]HND]XREUD]LGHILQLFMDNRPXQL]PX]DZĊĪRQH ]RVWDá\GRLGHQW\ILNRZDQLDWHJRSRMĊFLDGRQHJDW\ZQ\FK]MDZLVN]ZLą]DQ\FK]LVWQLHQLHPNUDMyZW]Z UHDOQHJRVRFMDOL]PX NRPXQL]PX LZ\VWĊSXMąF\FKZLFKV\VWHPLHSROLW\F]Q\PGHIRUPDFMLNWyUHZLą]Dá\ VLĊ]QDUXV]HQLHPSUDZLZROQRĞFLF]áRZLHNDDZHNVWUHPDOQ\FKV\WXDFMDFKSU]\ELHUDá\IRUPĊG]LDáDĔ SU]HVWĊSF]\FKDQDZHW]EURGQLF]\FK7DNLHUR]XPLHQLHSRMĊFLDNRPXQL]PXMHVW]DZĊĪDQLHPMHJRLVWRW\ .RPXQL]PERZLHPMHVWWRZL]MDXVWURMRZDVSRáHF]HĔVWZDVSUDZLHGOLZRĞFLVSRáHF]QHMZROQHJRRG Z\]\VNXRSDUWHJRQDZVSyOQRFLHJRVSRGDURZDQLDJG]LHUR]ZyMNDĪGHMMHGQRVWNLMHVWZDUXQNLHPUR]ZRMX RJyáXVSRáHF]HĔVWZD 6NRQNOXGRZDáĪHRGZRá\ZDQLHVLĊGRLGHLNRPXQL]PXSU]H]SDUWLHSROLW\F]QHMHVW]JRGQH]SUDZHPGR ]U]HV]DQLDVLĊLSURZDG]HQLDG]LDáDOQRĞFLSROLW\F]QHM ..:.33ZVND]DáĪHDUW6WDWXWX.33SU]HVąG]DLĪMHVWRQDSDUWLąSROLW\F]QąG]LDáDMąFąZUDPDFK SRU]ąGNXSUDZQHJR5]HF]\SRVSROLWHM3ROVNLHMZ]ZLą]NX]W\PUHDOL]XMHVZRMHFHOHZ\áąF]QLHPHWRGDPL SRNRMRZ\PLL]JRGQLH]SUDZHP ..:.33VWZLHUG]LáĪH>]@DUyZQRZSURJUDPLHMDNLVWDWXFLHDQLZMDNLFKNROZLHNIRUPDFKG]LDáDOQRĞFL SDUWLLQLHVSRVyEGRVWU]HFSURSDJRZDQLDQLHQDZLĞFLUDVRZHMLQDURGRZRĞFLRZHMRUD]LQQ\FKIRUP QLHQDZLĞFL1DWRPLDVW]GDQLHP..:.33SURSDJRZDQLHLGHLNRPXQL]PXEH]RGZRáDQLDGR WRWDOLWDUQ\FKPHWRGLSUDNW\NPLHĞFLVLĊZJUDQLFDFKSUDZLZROQRĞFLRE\ZDWHOVNLFKRUD]MHVWOHJDOQH 3RGNUHĞOLáĪHSDUWLHNRPXQLVW\F]QHSRVLDGDMąVZRMHUHSUH]HQWDFMHZSDUODPHQWDFKNUDMRZ\FKDWDNĪH 3DUODPHQFLH(XURSHMVNLP QS&]HFK\*UHFMD3RUWXJDOLD+LV]SDQLD  3RQDGWRZVND]DáĪH.33]RVWDáDZSLVDQDGRHZLGHQFMLSDUWLLSROLW\F]Q\FKFRGRZRG]LWHJRLĪSDUWLDQLH RGZRáXMHVLĊZVZRLPSURJUDPLHGRWRWDOLWDUQ\FKPHWRGLSUDNW\N7UXGQRUyZQLHĪF]\QLü]DU]XWF]áRQNRP .33ĪHJáRV]ąSRJOąG\PDUNVLVWRZVNROHQLQRZVNLHVNRUR.33Z\UDĨQLHGHNODUXMHZVWDWXFLHSDUWLLĪH MHVWSDUWLąPDUNVLVWRZVNROHQLQRZVNą3DUWLDPDUNVLVWRZVNROHQLQRZVNDMHVWWRW\SSDUWLLPDUNVLVWRZVNLHM