,,$.]3RVWDQRZLHQLH6ąGX$SHODF\MQHJRZ/XEOLQLH /(;QU 3RVWDQRZLHQLH 6ąGX$SHODF\MQHJRZ/XEOLQLH ]GQLDVW\F]QLDU ,,$.] 7(=$DNWXDOQD :\SRZLDGDQLHVLĊQDWHPDWX]DVDGQLRQHMREDZ\SRGGDQLDRVRE\ĞFLJDQHMWRUWXURPOXEQLHOXG]NLHPX EąGĨSRQLĪDMąFHPXWUDNWRZDQLXQLHPRĪHE\üWUHĞFLą]H]QDĔĞZLDGNDF]\WHĪRSLQLLELHJáHJRDOERZLHPWD NZHVWLDMHVWZZ\áąF]QHMVIHU]HRFHQ\VąGXPHULWL DUW†SNWNSN MDNRW]ZSU]HV]NRGD HNVWUDG\F\MQD 2F]\ZLVW\PMHVWĪHVNRUR3ROVNDUDW\ILNRZDáDHXURSHMVNą.RQZHQFMĊRRFKURQLHSUDZF]áRZLHNDL SRGVWDZRZ\FKZROQRĞFL ']8]U1USR]]H]P LVWDQRZLRQDF]ĊĞüNUDMRZHJRSRU]ąGNX SUDZQHJRLMHVWEH]SRĞUHGQLRVWRVRZDQD DUWXVW.RQVW\WXFML53 WRIDNWLĪRGOLSFDUZ NSNRERNSU]HV]NRG\RNUHĞORQHMZDUW†SNWNSNWMVSU]HF]QRĞFL]SUDZHPSROVNLPSRMDZLá VLĊSU]HSLVDUW†SNWNSNGRW\F]ąF\X]DVDGQLRQHMREDZ\SRGGDQLDWRUWXURPQLHPDĪDGQHJR ]QDF]HQLDDOERZLHP]DND]WRUWXUXMĊW\E\áWDNĪHZWUHĞFLDUW.RQZHQFML 3UDZGRSRGRELHĔVWZRSRGGDQLDRVRE\ĞFLJDQHMWUDNWRZDQLXVSU]HF]QHPX]Z\PDJDQLDPL(.3&]D ]DWHPWDNĪHW\PLXMĊW\PLZDUWMHVWVWRSQLRZDOQH:WHMV\WXDFMLPXV]ąLVWQLHüRNUHĞORQHIDNW\NWyUH SRWZLHUG]DMąLVWQLHQLHU]HF]\ZLVWHJRU\]\NDWUDNWRZDQLDGDQHMRVRE\VSU]HF]QLH]WUHĞFLąDUW(.3&] ,VWQLHQLHU\]\ND]áHJRWUDNWRZDQLDSU]H]SU\]PDWDUW(.3&]PXVLE\üRFHQLDQHZRGQLHVLHQLXGRW\FK IDNWyZNWyUHVą]QDQHZF]DVLHSRVWĊSRZDQLDHNVWUDG\F\MQHJR 7(=$DNWXDOQD 2GQRV]ąFVLĊGRWUHĞFLWHJR]DU]XWX RGGDOHQLHZQLRVNXGRZRGRZHJR Z\SDGDSU]\SRPQLHüĪHVNDUĪąF\ ]áRĪ\OLZQLRVHNGRZRGRZ\ZSRVWDFLGRSXV]F]HQLDGRZRGX]]H]QDĔĞZLDGNDZ\]QDF]RQHJRSU]H]%LXUR 6WRZDU]\V]HQLD$PQHVW\,QWHUQDWLRQDOQDRNROLF]QRĞüUDSRUWyZVSRU]ąG]RQ\FKSU]H]RUJDQL]DFMĊ GRW\F]ąF\FKGUDPDW\F]QLHWUXGQHMV\WXDFMLZLĊĨQLyZZ)HGHUDFML5RV\MVNLHMRUD]LVWQLHQLDX]DVDGQLRQHM