Z\ZRá\ZDüLVWRWQHWUXGQRĞFLLQWHUSUHWDF\MQHQDOHĪ\]UR]ZDJąVWDZLDüXF]HVWQLNRPSRVWĊSRZDQLD
Z\PDJDQLDZ]DNUHVLHGRFKRZDQLDWHUPLQyZGRF]\QQRĞFLSURFHVRZ\FKLNLHURZDüVLĊZUHODFMDFKVąGX]H
VWURQDPL]DVDGąORMDOQRĞFLSURFHVRZHM ]REQSSRVWDQRZLHQLH61]OXWHJRU,,,&= :
W\PNRQWHNĞFLHLVWRWQH]QDF]HQLHPDWRĪH]DNWVSUDZ\QLHZ\QLNDDE\SU]\GRUĊF]HQLXSRVWDQRZLHQLD]
OLSFDU]X]DVDGQLHQLHP]RVWDáD]DZDUWDLQIRUPDFMDLĪMHVWWRHGRUĊF]HQLHGRNRQ\ZDQHQD
SRGVWDZLHDUW]]V XVWXVWDZ\&29,',QIRUPDFMDWHJRURG]DMX]RVWDáDSRUD]SLHUZV]\XG]LHORQD
SU]H]6ąG$SHODF\MQ\Z:DUV]DZLHGRSLHURSU]\GRUĊF]HQLXSRVWDQRZLHQLDWHJR6ąGXRGU]XFDMąFHJR
]DĪDOHQLHSR]ZDQHJRQD]DZDUWHZSRVWDQRZLHQLX]OLSFDUUR]VWU]\JQLĊFLHRNRV]WDFK
SRVWĊSRZDQLD
:NRQVHNZHQFMLWU]HEDVWZLHUG]LüĪHQLHGRVNRQDáRĞFLV\VWHPXGRUĊF]HĔSU]H]3RUWDO,QIRUPDF\MQ\DZ
V]F]HJyOQRĞFLZ\VWĊSXMąFDQDZF]HVQ\PHWDSLHIXQNFMRQRZDQLDWHJRV\VWHPXQLHMDVQRĞüFRGRFKDUDNWHUX
]DPLHV]F]DQ\FKWDPLQIRUPDFMLQLHSRZLQQDVNXWNRZDüQHJDW\ZQ\PLVNXWNDPLGODVWURQ\SRVWĊSRZDQLD
FRLQFDVXX]DVDGQLDáRSU]\MĊFLHĪHVNDUJDNDVDF\MQD]RVWDáDZQLHVLRQDZWHUPLQLHOLF]RQ\PRGGQLD
GRUĊF]HQLDGRNRQDQHJRQDZQLRVHNSRZRGDZU]HĞQLDU
1LHE\áRWDNĪHSRGVWDZGRRGU]XFHQLDVNDUJLNDVDF\MQHM]HZ]JOĊGXQDEáĊGQHZVND]DQLHSRGVWDZ\
NDVDF\MQHM]ZDĪ\ZV]\ĪHZ]DVNDUĪRQ\PSRVWDQRZLHQLX6ąG$SHODF\MQ\ZSURVWZVND]DáLĪSRGVWDZą
MHJRUR]VWU]\JQLĊFLDE\áDUW ]GNSF
3U]HFKRG]ąF]DĞGRUR]ZDĪHQLDVIRUPXáRZDQHJRZVNDUG]HNDVDF\MQHM]DU]XWXQDUXV]HQLDDUW ]G
NSFZ]Z]DUWSNWUR]SRU]ąG]HQLDNWyUHPLDáRSROHJDüQDX]QDQLXĪHLQFDVXSROVNL
VąGQLHMHVWXSUDZQLRQ\GRUR]VWU]\JDQLDĪąGDĔSR]ZXWU]HED]DXZDĪ\üLĪQDZVSDUFLHVZHJRVWDQRZLVND
VNDUĪąF\SU]\WRF]\áGZD]DVDGQLF]HDUJXPHQW\3RSLHUZV]HMHJR]GDQLHPLVWQLHMąRELHNW\ZQHLPRĪOLZH
GRZHU\ILNDFMLHOHPHQW\LQNU\PLQRZDQHMZ\SRZLHG]L SU]\SLVXMąFHM3RODNRPXWZRU]HQLHLSURZDG]HQLH
RER]X]DJáDG\Z7UHEOLQFH NWyUHSR]ZDODMąFKRFLDĪE\SRĞUHGQLR]LGHQW\ILNRZDüSRZRGD 3RODND
]DPLHV]NDáHJRZ3ROVFHE\áHJRZLĊĨQLDRER]XZ$XVFKZLW] =ZLą]NX%\á\FK:LĊĨQLyZ3ROLW\F]Q\FK
+LWOHURZVNLFK:LĊ]LHĔL2ER]yZ.RQFHQWUDF\MQ\FKDNW\ZQLHG]LDáDMąFHJRVSRáHF]QLHQDU]HF]
XSDPLĊWQLHQLDRILDUPLQ]EURGQLSRSHáQLRQ\FKZRER]LH]DJáDG\Z7UHEOLQFH SU]H]FRLVWQLHMąSU]HVáDQNL
GRX]QDQLDĪHZ3ROVFH]QDMGXMHVLĊPLHMVFHZNWyU\PQDVWąSLáROXEPRĪHQDVWąSLü]GDU]HQLHZ\ZRáXMąFH
V]NRGĊ3RGUXJLH]DĞSRZyG]ZUyFLáXZDJĊĪH]JRGQLH]W]ZUHJXáąPR]DLNLRVREDSRV]NRGRZDQDSU]H]
DUW\NXáSUDVRZ\UR]SRZV]HFKQLRQ\ZNLONXSDĔVWZDFKF]áRQNRZVNLFKPRĪHGRPDJDüVLĊRGV]NRGRZDQLD
RGZ\GDZF\]DUyZQRSU]HGVąGHPSDĔVWZDJG]LHZ\GDZFDWHMSXEOLNDFMLPDVLHG]LEĊMDNUyZQLHĪSU]HG
VąGHPSDĔVWZDF]áRQNRZVNLHJRZNWyU\PWDSXEOLNDFMD]RVWDáDUR]SRZV]HFKQLRQDLJG]LHSRV]NRGRZDQ\
GR]QDáNU]\ZG\]SRZRGXQDUXV]HQLDMHJRJRGQRĞFLQDURGRZHMLWRĪVDPRĞFLQDURGRZHM
5R]SDWUXMąFSLHUZV]\DUJXPHQW6ąG1DMZ\ĪV]\QLHPLDáĪDGQ\FKZąWSOLZRĞFLFRGR]ZLą]DQLDZ\URNLHP
7U\EXQDáX6SUDZLHGOLZRĞFL8QLL(XURSHMVNLHM]F]HUZFDU& LFRGRWHJRĪHZ\URNWHQ
Z\NOXF]DPRĪOLZRĞüSU]\]QDQLDZQLQLHMV]HMVSUDZLHVąGRZLSROVNLHPXMXU\VG\NFMLZRGQLHVLHQLXGR