%H]VSRUQLHSRZ\ĪV]DZ\SRZLHGĨGRW\F]ąFDyZF]HVQHJRSRVáDQD6HMP5]HF]SRVSROLWHM RUD]NRRUG\QDWRUDJUXS\SROVNLFKHNVSHUWyZGRVSUDZUHIRUP\VDPRU]ąGRZHMQD80 ĝZSURVW]DZLHUDáDGH]DSUREDWĊGODMHJRSXEOLF]QHMG]LDáDOQRĞFLQDU]HF]SRSUDZ\ VWRVXQNyZSROVNRXNUDLĔVNLFKRUD]RUĊGRZQLFWZDGODLGHLZVSDUFLD8-HGQRF]HĞQLH RF]\ZLĞFLHQLHZLDU\JRGQHMHVWHNVSRQRZDQHZDSHODFMLWZLHUG]HQLHRVNDUĪRQHJRMDNRE\ PLDáWRE\üZ\UD]NU\W\NLZREHFVNLHURZDQLDSU]H]0ĝSLVPGR0LQLVWUD6SUDZ :HZQĊWU]Q\FKZUDPDFKREURQ\MDZQLH  JUXS\PX]\F]QHM29VNRURMHVWWR FDáNRZLFLHVSU]HF]QH]FKURQRORJLą]GDU]HĔ)DNWHPSRZV]HFKQLH]QDQ\PL NRPHQWRZDQ\PZPHGLDFKSR]RVWDMHLĪLQWHUSHODFMĊGR0LQLVWUD6SUDZ:HZQĊWU]Q\FKL $GPLQLVWUDFML0ĝVNLHURZDáERZLHPGRSLHURZVLHUSQLXU ,QWHUSHODFMD  SR W\PMDNU]HF]RQHMJUXSLHQLHXG]LHORQRZGQLXOLSFDU]H]ZROHQLDQDZMD]GQD WHU\WRULXP3ROVNL7\PVDP\PRF]\ZLVW\PMHVWĪHRVNDUĪRQ\QLHPyJáNU\W\NRZDüWHJR NRQNUHWQHJRSU]HMDZXDNW\ZQRĞFLyZF]HVQHJRSRVáD]DQLP]DLVWQLDáR]GDU]HQLH VWDQRZLąFHMHMSU]\F]\QĊ :ĞZLHWOHFDáRNV]WDáWXRGZ]RURZDQHMZDNWDFKDNW\ZQRĞFLRVNDUĪRQHJRQLHEXG]LWHĪ ZąWSOLZRĞFLĪHSLĊWQRZDáRQZHUEDOQLH]DDQJDĪRZDQLHSRVáDZáDĞQLH]HZ]JOĊGXQD ZáDVQHG\VNU\PLQDF\MQHQDVWDZLHQLHGRQDURGX   3RG]LHOLüQDOHĪ\MHGQDNVWDQRZLVNRVNDUĪąFHJRĪHE\áWRMHG\QLHSU]HMDZNU\W\NL G]LDáDOQRĞFLSXEOLF]QHM0ĝNWyUDFKRüZVSRVRELHZ\UD]XGDOHNDE\áDNXUWXD]MLD QDZHWIXQGDPHQWDOQHMSRSUDZQRĞFLQLHPRĪHMHGQDN]RVWDüX]QDQD]DUyZQRZDĪQą SRFKZDOHZ\VWĊSNXQDUXV]HQLDQLHW\NDOQRĞFLFLHOHVQHMDGZHUVDU]D 3U\PLW\ZL]PZ\SRZLHG]LMDNNROZLHNZSLVXMHVLĊZFKDUDNWHU\VW\NĊVW\OXRVNDUĪRQHJR ZRGQLHVLHQLXGR]MDZLVNSU]H]QLHJRQLHDNFHSWRZDQ\FKQLH]DZLHUD]QDPLRQ SU]\SLVDQHJRSU]HVWĊSVWZD]DUW†NNDMHG\QLHVWDQRZLZ\UD]GH]DSUREDW\GOD OLQLLSRVWĊSRZDQLDSR]RVWDMąFHMZRF]\ZLVWHMVSU]HF]QRĞFL]]DSDWU\ZDQLDPLL RF]HNLZDQLDPLRVNDUĪRQHJR 3U]HGPLRWRZ\NRPHQWDU]RGQRVLáVLĊERZLHPGRLQWHUQHWRZHMSXEOLNDFMLDUW\NXáX8 DSHOXMąRQLHSRUXV]DQLHVSUDZ\OXGREyMVWZD  JG\W\PF]DVHPNXOW\ZRZDQLHSDPLĊFL W\FKZ\GDU]HĔVWDQRZLFHOSXEOLF]QHMG]LDáDOQRĞFLRVNDUĪRQHJRFRRQVDPNRQVHNZHQWQLH SU]\]QDZDáLFRNRUHVSRQGXMH]MHJRXGRNXPHQWRZDQąZDNWDFKDNW\ZQRĞFLąZVLHFL )XQGDPHQWDOQLHQLHJRG]ąFVLĊQDSRPLMDQLHWHJRWHPDWXZUHODFMDFKSROVNRXNUDLĔVNLFK RVNDUĪRQ\ZWU\ZLDOQ\VSRVyE]DDNFHQWRZDáĪH0ĝQLHVáXV]QLHVSU]\MDWDNLP RF]HNLZDQLRP 1LHPQLHM]ZURWSURVLüVLĊRFRĞQLHMHVWUyZQR]QDF]Q\]H]ZURWHP]DVáXJLZDüQD FRĞZV]DNR]QDF]DRQJUDELüVRELHLJUDüSRGSDGDü]ELHUDüQDVLHELHSXQNW\