V\JQ3  :UH]XOWDFLHXZDĪDPĪH7U\EXQDá.RQVW\WXF\MQ\ZUDPDFKEDGDQLDSU]HVáDQNLIXQNFMRQDOQHMS\WDQLD SUDZQHJRSRZLQLHQE\áSRSU]HVWDüQDSRUyZQDQLXVWDQXIDNW\F]QHJRVSUDZ\UR]VWU]\JDQHMSU]H]VąG S\WDMąF\RUD]WUHĞFLNZHVWLRQRZDQHJRSU]HSLVXLW\ONRQDWHMSRGVWDZLHXVWDOLüF]\DUWXVWXVWDZ\R JPLQDFKĪ\GRZVNLFKPRĪHPLHü]DVWRVRZDQLHZWHMVSUDZLH%LRUąFSRGXZDJĊĪHSRZyGGRPDJDVLĊ SU]\MĊFLDGRJPLQ\Z\]QDQLRZHMĪ\GRZVNLHMDSU]HVáDQNLSU]\QDOHĪQRĞFLGRWHMJPLQ\VąRNUHĞORQHZDUW XVWXVWDZ\RJPLQDFKĪ\GRZVNLFK RUD]ZSUDZLHZHZQĊWU]Q\PRF]\PGDOHM Z\QLNWDNLHMNRQWUROL SRZLQLHQE\üMHGQR]QDF]QLHSR]\W\ZQ\0RLP]GDQLHPMHVWRF]\ZLVWHLĪNDĪGHPHU\WRU\F]QHRU]HF]HQLH 62Z.UDNRZLHEĊG]LHPXVLDáRXZ]JOĊGQLDüWHQSU]HSLV QLHPDSU]\W\PZLĊNV]HJR]QDF]HQLDĪHQLH EĊG]LHRQMHG\QąSRGVWDZąRU]HNDQLDSRUQLĪHM  :UH]XOWDFLHXZDĪDPĪHRERZLą]\ZDQLHDUWXVWXVWDZ\RJPLQDFKĪ\GRZVNLFKZV\VWHPLHSUDZQ\P OXEMHJRGHURJDFMD]SRZRGXQLH]JRGQRĞFL].RQVW\WXFMą QLHW\ONRPRJąDOH]FDáąSHZQRĞFLąEĊGąPLDá\ ZSá\ZQDVSUDZĊUR]SDWU\ZDQąSU]H]VąGS\WDMąF\ZUR]XPLHQLXDUWXVWXVWDZ\R7.5RG]LWR NRQLHF]QRĞüPHU\WRU\F]QHMRFHQ\WHJRSU]HSLVXSU]H]7U\EXQDá.RQVW\WXF\MQ\ 3RGUXJLHZGRW\FKF]DVRZ\PGRURENXRU]HF]QLF]\P7U\EXQDáX.RQVW\WXF\MQHJRNZHVWLąVSRUQą RND]DáRVLĊUyZQLHĪWRZF]\PSRZLQLHQVLĊSU]HMDZLDüZSá\ZRGSRZLHG]LQDS\WDQLHSUDZQHQDVSUDZĊ UR]SDWU\ZDQąSU]H]VąGS\WDMąF\ :LĊNV]RĞüVNáDGXRU]HNDMąFHJRZQLQLHMV]HMVSUDZLHSU]\MĊáDQDMEDUG]LHMUHVWU\NF\MQH]PRĪOLZ\FKZW\P ]DNUHVLHVWDQRZLVNZP\ĞONWyUHJRZSá\ZWHQPXVLPLHüFKDUDNWHUNZDOLILNRZDQ\WMZVSUDZDFK F\ZLOQ\FKEH]SRĞUHGQLRLVDPRG]LHOQLHGHWHUPLQRZDüZ\QLNSRVWĊSRZDQLDZNDWHJRULDFKXZ]JOĊGQLHQLH RGGDOHQLHSRZyG]WZD Z]DOHĪQRĞFLRGUH]XOWDWXNRQWUROLDUWXVWXVWDZ\RJPLQDFKĪ\GRZVNLFK  7DNĪHWHQSRJOąGQDZLą]XMHGRJUXS\RU]HF]HĔ7U\EXQDáX.RQVW\WXF\MQHJRZNWyU\FKSU]\MPRZDQRĪH S\WDQLHSUDZQHQLHVSHáQLDSU]HVáDQNLIXQNFMRQDOQHMSRQLHZDĪVąGS\WDMąF\QLHZ\ND]DáĪH UR]VWU]\JQLĊFLH]DZLVáHMSU]HGQLPVSUDZ\EĊG]LHRGPLHQQHZSU]\SDGNXX]QDQLDSU]H]7U\EXQDá QLH]JRGQRĞFL].RQVW\WXFMąNZHVWLRQRZDQ\FKSU]HSLVyZ SRVWDQRZLHQLH]SDĨG]LHUQLNDUV\JQ 327.=8QU$SR]SRGREQLHQSSRVWDQRZLHQLD]OLSFDUV\JQ327. =8QU$SR]SDĨG]LHUQLNDUV\JQ327.=8QU$SR]OLSFD UV\JQ327.=8QU$SR]OLVWRSDGDUV\JQ327.=8QU $SR]OXWHJRUV\JQ327.=8QU$SR]JUXGQLDU V\JQ327.=8QU$SR]LJUXGQLDUV\JQ327.=8QU $SR]  0RLP]GDQLHPQDSRSDUFLH]DVáXJXMHMHGQDNVWDQRZLVNREDUG]LHMOLEHUDOQHZP\ĞONWyUHJRZ\VWDUF]\DE\ ]DVNDUĪRQ\SU]HSLVE\áMHGQą]QLH]EĊGQ\FKSRGVWDZUR]VWU]\JQLĊFLDVSUDZ\]DZLVáHMSU]HGVąGHP S\WDMąF\PQLHNRQLHF]QLHVDPRG]LHOQLHGHF\GXMąFąRRVWDWHF]Q\PNLHUXQNXRU]HNDQLD8ZDĪDPĪHW\ONR WDNDLQWHUSUHWDFMDDUWXVWXVWDZ\R7.]DSHZQLDRGSRZLHGQLSR]LRPRFKURQ\SUDZLZROQRĞFL