Z\UDĪDüNU\W\F]Q\VWRVXQHNGRUR]PDLW\FK]MDZLVNĪ\FLDVSRáHF]QHJR']LHQQLNDU]HPDMąSUDZRGR RĞPLHV]HQLDWDNLFKV\WXDFMLSRVWĊSRZDQLDSRV]F]HJyOQ\FKOXG]LEąGĨFDá\FKJUXSVSRáHF]Q\FKSRGGDQLDZ W\P]DNUHVLHNU\W\FH]Z\F]DMyZRE\F]DMyZĞZLDWRSRJOąGRZ\FKDUW\VW\F]Q\FK']LHQQLNDU]HPDMąWDNĪH SUDZRNRPHQWRZDQLDWDNLFK]MDZLVNVSRáHF]Q\FKDWDNĪHLFKZ\V]\G]DQLDL]QLHNV]WDáFDQLDZW\P RGQRV]ąF\FKVLĊGRSROVNLFKZDGLSU]\ZDU']LHQQLNDU]HPDMąSUDZRXĪ\ZDüVáyZNWyUHPRJąE\ü X]QDZDQH]DREUDĨOLZHRUD]ZXOJDUQH]W\P]DVWU]HĪHQLHPĪHZSU]\SDGNXSU]HNURF]HQLDJUDQLFVZRERG\ Z\SRZLHG]LD]DWHPZ\MĞFLDSR]DGRSXV]F]DOQ\]DNUHVDNFHSWRZDOQRĞFLSU]H]SU]HFLĊWQHJRRGELRUFĊ PXV]ąOLF]\üVLĊ]NRQVHNZHQFMDPL-DNMXĪERZLHPZVSRPQLDQR]]DZRGHPG]LHQQLNDU]DZLąĪHVLĊQLH W\ONRSUDZDDOHLRERZLą]NLNWyU\FKQDUXV]HQLHVNXWNXMHRGSRZLHG]LDOQRĞFLą 2JUDQLF]HQLDSUDZDGRVZRERG\Z\SRZLHG]LG]LHQQLNDUVNLHMRFKDUDNWHU]HVDW\U\F]Q\PPXV]ąE\üQD JUXQFLHDUWXVW.RQZHQFMLLQWHUSUHWRZDQHĞFLĞOHDNRQLHF]QRĞüLFK]DVWRVRZDQLDPXVLE\ü X]DVDGQLRQDZVSRVyESU]HNRQ\ZDMąF\ ]REQSZ\URN(73&]GQLDOLVWRSDGDU2L* SU]HFLZNR=MHGQRF]RQHPX.UyOHVWZXVNDUJD   =W\FKZ]JOĊGyZ6ąG2NUĊJRZ\X]QDáĪH]DNZHVWLRQRZDQ\SU]H]  SU]HND]]HZ]JOĊGXQDIRUPĊL WUHĞüMHVWXWZRUHPVDW\U\F]Q\P ']LHQQLNDU]HSU]HGVWDZLDOLIDNW\NWyUHPLDá\PLHMVFHZU]HF]\ZLVWRĞFL 2GQRVLVLĊWRZV]F]HJyOQRĞFLGRKLVWRULL  ]%NRQIHUHQFMLZ:DW\NDQLHPDMąWNX)XQGDFML   RNROLF]QRĞFLĞPLHUFL  SRGDURZDQLDILRONLNUZL5.F]\Z\NRQDQLDUHOLNZLLRUD]Z\SRZLHG]L75 :RFHQLH6ąGX,LQVWDQFMLG]LHQQLNDU]HQLHSU]HNURF]\OLJUDQLF\VZRERG\Z\SRZLHG]LRNUHĞORQHMZDUW XVWXUW]XZ]JOĊGQLHQLHPDUW.RQZHQFML7U]HEDPLHüQDXZDG]HUHJXá\RJUDQLF]HQLDVZRERG\ Z\SRZLHG]LNWyUHRGQRV]ąVLĊGRVąGyZZDUWRĞFLXMąF\FKDQLHGRIDNWyZ 6ąG\ZDUWRĞFLXMąFHQLHPRJą ]RVWDüERZLHPXGRZRGQLRQHQLHSRGGDMąVLĊRFHQLHZNDWHJRULLSUDZG\LIDáV]X 3U]\LQIRUPRZDQLXR VąGDFKRFHQQ\FKQLHZ\PDJDVLĊGXĪHMVWDUDQQRĞFLWUXGQRSRGGDüMHRJUDQLF]HQLRPJG\ĪVWDQRZLąMąGUR GHEDW\SXEOLF]QHM :HGáXJ6ąG2NUĊJRZHJRQLHVSRVyEX]QDüLĪDXG\FMD  SURPRZDáDSRVWDZ\F]\SRJOąG\VSU]HF]QH] PRUDOQRĞFLąF]\GREUHPVSRáHF]Q\P .U\W\FHSRGGDQRERZLHP]DFKRZDQLDVSU]HF]QHZVSRVyE RF]\ZLVW\]SRU]ąGNLHPSUDZQ\PWDNLHMDNLHMDNSHGRILOLDDOHUyZQLHĪQLHVWRVRZQHSRVWDZ\L]DFKRZDQLD RVyENWyUHVąNDSáDQDPLAZW\PZąWHNZ\QDMĊFLDSáDWQ\FK]DEyMFyZZFHOXREHMĞFLD]DND]XSRSHáQLHQLD VDPREyMVWZDQDGPLHUQHJRERJDFHQLDVLĊRUD]SRJOąG\REUDNXSRZLQQRĞFLSáDFHQLDSRGDWNyZ 1LHVSRVyEX]QDüĪHNSLQ\GRW\F]\á\.RĞFLRáDF]\NVLĊĪ\ZRJyOH$QDOL]DSU]HND]XMHJRWUHĞFLLIRUP\ ZVND]XMHQDWRĪHSRUXV]DQHZąWNLĪ\FLDĞPLHUFLFKRURE\UHOLNZLLNXOWX0DUNL%RVNLHMQLH]DZLHUDá\ WUHĞFLZVND]XMąFHQDSU]HNURF]HQLHJUDQLFSRV]DQRZDQLDSU]HNRQDĔUHOLJLMQ\FKLFKU]HĞFLMDĔVNLHJR V\VWHPXZDUWRĞFL:SURJUDPLHQLHSDGDá\WDNĪHVáRZD      :WRNXJU\VáyZSURZDG]ąF\FK DXG\FMĊLVWRWQLH0DWND%RVNDNWyUHMNXOWZ3ROVFHSRVWU]HJDQ\MHVWMDNRĪ\Z\QD]ZDQD]RVWDáDĩ\GyZNą F]DUQąPUyZNRQQą6ąG,LQVWDQFMLX]QDáLĪRNUHĞOHQLHĩ\GyZNDGODRVRE\SRFKRG]HQLDĪ\GRZVNLHJR REUDĨOLZ\PE\üQLHPRĪH 2NUHĞOHQLH]DĞF]DUQDPUyZNRQQąQLHVWDQRZLGUZLQ\]NXOWX0DWNL%RĪHM