QDVWąSLüGRSLHURSRVSU]HGDĪ\SU]HGPLRWXXPRZ\QDQLHXZ]JOĊGQLHQLXĪHZPDWHULDOHGRZRGRZ\P
LVWQLHMąGZLHIDNWXU\9$7R]QDF]RQHW\PVDP\PQXPHUHP ]GQLDF]HUZFDLOLSFDUFR
GRSURZDG]LáRGREáĊGQHJRXVWDOHQLDĪHLVWQLHMHW\ONRMHGQDIDNWXUDNWyUD]GDQLHP6ąGX]RVWDáD
XUHJXORZDQDZJRWyZFH
QDUXV]HQLHDUWNSFSRSU]H]SU]HNURF]HQLHJUDQLFVZRERGQHMRFHQ\GRZRGyZLXVWDOHQLHQD
SRGVWDZLH]H]QDĔĞZLDGNyZ6..= =0L]H]QDĔ,, ĪHSUDFH]RVWDá\Z\NRQDQHZDGOLZLH
SRGF]DVJG\]ZSLVXZG]LHQQLNXEXGRZ\Z\QLNDĪHSR]ZDQDQLH]JáDV]DáD]DVWU]HĪHĔGRZ\NRQDQLDSUDF
SRSU]H]EáĊGQHSU]\MĊFLHQDSRGVWDZLH]H]QDĔĞZLDGND00 ĪH0'RWU]\PDáRGSR]ZDQHMNZRWĊ
]áRUD]SRSU]H]SU]\MĊFLHĪHZSáDW\GRNRQDQHSU]H]SR]ZDQąQDRVRELVW\UDFKXQHN0'
ĞZLDGF]ąR]DSáDFLHXPyZLRQHJRZ\QDJURG]HQLDQDU]HF]SRZyGNL
QDUXV]HQLHDUWNSFSROHJDMąF\QDGRSXV]F]HQLXGRZRGXSU]HFLZNRRVQRZLHGRNXPHQWyZZSRVWDFL
]H]QDĔSRZ\ĪV]\FKĞZLDGNyZLSR]ZDQHMQDRNROLF]QRĞFLZ\QLNDMąFH]WUHĞFLSURWRNRáX]DNRĔF]HQLDSUDF
EXGRZODQ\FK]GQLDOLSFDURUD]]GRNXPHQWXXU]ĊGRZHJRG]LHQQLNDEXGRZ\
QDUXV]HQLHDUWNSFSRSU]H]EUDNZVND]DQLDSRGVWDZ\IDNW\F]QHMLSUDZQHMUR]VWU]\JQLĊFLDRUD]
F]\]H]QDQLDĞZLDGND6.6ąGX]QDá]DZLDU\JRGQHZFDáRĞFLF]\ZF]ĊĞFLFRXQLHPRĪOLZLDLQVWDQF\MQą
NRQWUROĊRU]HF]HQLD
QDUXV]HQLHDUWNSFSRSU]H]SU]HSURZDG]HQLHGRZRGX]RSLQLLELHJáHJRQDRNROLF]QRĞüZDUWRĞFL
SUDFQLHZ\NRQDQ\FKSRGF]DVJG\ELHJá\WHQQLHSRVLDGDZLDGRPRĞFLVSHFMDOQ\FKZ]DNUHVLH
NRV]WRU\VRZDQLDUREyWEXGRZODQ\FKSRSU]H]SU]\MĊFLH]DZáDVQ\NRV]WRU\VXVSRU]ąG]RQHJRSU]H]RVREĊ
LQQąQLĪSRZRáDQ\ZVSUDZLHELHJá\RUD]SRSU]H]QLHZ\NRQDQLHSU]H]ELHJáHJRSRVWDQRZLHQLDVąGXFRGR
RNUHĞOHQLDSUDFQLHZ\NRQDQ\FK
QDUXV]HQLHDUWNSFZ]Z]DUWNSFSRSU]H]QLHUR]SR]QDQLHZQLRVNXGRZRGRZHJR]DZDUWHJR
ZSLĞPLH]GQLDPDMDUR]RERZLą]DQLHSR]ZDQHMGRSU]HGáRĪHQLDDNWXQRWDULDOQHJRVSU]HGDĪ\
SU]HGPLRWRZHMQLHUXFKRPRĞFLQDRNROLF]QRĞüFHQ\X]\VNDQHM]HVSU]HGDĪ\
:NRQNOX]MLDSHODFMLSRZyGNDZQLRVáDRXFK\OHQLH]DVNDUĪRQHJRZ\URNXLSU]HND]DQLHVSUDZ\VąGRZL
SLHUZV]HMLQVWDQFMLGRSRQRZQHJRUR]SR]QDQLD]XZDJLQDNRQLHF]QRĞüSU]HSURZDG]HQLDZFDáRĞFL
SRVWĊSRZDQLDGRZRGRZHJR 3RQDGWRSRZyGNDZQLRVáDRSU]HSURZDG]HQLHZSRVWĊSRZDQLXDSHODF\MQ\P
GRZRGX]RSLQLLELHJáHJRRVSHFMDOQRĞFLNRV]WRU\VRZDQLDUREyWEXGRZODQ\FKQDRNROLF]QRĞüZDUWRĞFL
QLHZ\NRQDQ\FKUREyWRUD]GRZRGX]DNWXQRWDULDOQHJRXPRZ\VSU]HGDĪ\SU]H]SR]ZDQąGRPXW\SX
QDRNROLF]QRĞüV]NRG\MDNąSRQLRVáDSR]ZDQD
8]DVDGQLHQLHSUDZQH
6ąG$SHODF\MQ\]ZDĪ\áFRQDVWĊSXMH
$SHODFMDSRZyGNLSR]EDZLRQDMHVWX]DVDGQLRQ\FKSRGVWDZSUDZQ\FKLMDNRWDNDSRGOHJDRGGDOHQLX
6ąG$SHODF\MQ\DSUREXMHGRNRQDQHSU]H]6ąG2NUĊJRZ\XVWDOHQLDIDNW\F]QHLSU]\MPXMHMH]DZáDVQH