=DXZDĪ\üSU]\W\PWU]HEDLĪGHF\GXMąFH]QDF]HQLHGODGRNRQDQLDWHMRFHQ\PDVDPF]\QSU]HVWĊSQ\ EĊGąF\SU]HGPLRWHPSRVWĊSRZDQLDDQLH]DVWRVRZDQDSU]H]SRNU]\ZG]RQ\FKZ]DZLDGRPLHQLXOXESU]H] 3URNXUDWRUDZGHF\]MLNRĔF]ąFHMSRVWĊSRZDQLHNZDOLILNDFMDSUDZQDF]\OL]DNZDOLILNRZDQLHGDQHJR ]DFKRZDQLDMDNRSU]HVWĊSVWZDZ\SHáQLDMąFHJR]QDPLRQDRNUHĞORQHJRF]\QX]DEURQLRQHJRVW\SL]RZDQHJR ZNRQNUHWQ\PSU]HSLVLH.RGHNVXNDUQHJROXELQQHMXVWDZ\ :]DZLDGRPLHQLXRSRSHáQLHQLXSU]HVWĊSVWZD]PDUFDU$6L.-LQIRUPRZDOLLĪ-8 XPLHĞFLáDZSLV\RQDVWĊSXMąFHMWUHĞFL=EURGQLH               =DELMDMąF\ĩ\GyZ      %DQG\FLWRZ\RUD]ĪRáQLHU]HZ\NOĊFLEDQG\FLSU]HNOĊFL: RFHQLH]DZLDGDPLDMąF\FKZSLVRWUHĞFL=DELMDMąF\ĩ\GyZ      %DQG\FLWRZ\ Z\SHáQLDá]QDPLRQDSU]HVWĊSVWZD]DUW†NN3RQDGWR]DZLDGDPLDMąF\VWZLHUG]DOLLĪQD]ZDQLH Z\PLHQLRQ\FKSU]H]-8]SVHXGRQLPyZRVyEEDQG\WDPLL]DEyMFDPLĩ\GyZZ\SHáQLD]QDPLRQD SU]HVWĊSVWZ]DUW†NNRUD]VWDQRZLSU]HVWĊSVWZR]DUWNNER]QLHZDĪDMąFWHRVRE\ ]QLHZDĪDáDRQDZLVWRFLHWDNĪH1DUyG3ROVNL =NROHLSRSU]HSURZDG]HQLXGRFKRG]HQLDSRVWDQRZLHQLHP]GQLDPDMDUZVSUDZLHV\JQDNW35 'V3URNXUDWRU3URNXUDWXU\5HMRQRZHMZ&XPRU]\áGRFKRG]HQLHZVSUDZLHSXEOLF]QHJR QDZRá\ZDQLDGRQLHQDZLĞFLPDMąFHJRPLHMVFHZRNUHVLHRGOXWHJRUGRPDUFDUZ&]D SRĞUHGQLFWZHPVLHFL,QWHUQHWQDSRUWDOXVSRáHF]QRĞFLRZ\P  SRSU]H]XPLHV]F]HQLHZSLVyZRWUHĞFL ĪRáQLHU]HZ\NOĊFLEDQG\FLSU]HNOĊFLRUD]=EURGQLH              =DELMDMąF\ ĩ\GyZ      %DQG\FLWR:\]QLHZDĪDMąF\FKSXEOLF]QLH1DUyGOXE5]HF]SRVSROLWą3ROVNąWMR SU]HVWĊSVWZR]DUW†NNLDUWNNSU]\]DVWRVRZDQLXDUW†NN ,VWRWąF]\QXNWyU\PLDáSRGOHJDüĞFLJDQLXE\áRZLĊFXPLHV]F]HQLHWUHĞFLNWyUHPLDá\]QLHZDĪDüJUXSĊ OXG]LRNUHĞODQąMDNRĪRáQLHU]HZ\NOĊFLRUD]NRQNUHWQHRVRE\ZVND]DQHSRSU]H]SRGDQLHLFK NRQVSLUDF\MQ\FKSVHXGRQLPyZ                    :]ZLą]NX]SRZ\ĪV]\P WUHĞFLRGQRV]ąFHVLĊGRWHMJUXS\OXG]LRUD]VNRQNUHW\]RZDQ\FKRVyE]DPLHV]F]DQHZLQWHUQHFLHSU]H]- 8PLDá\HZHQWXDOQLH]QLHZDĪDüEąGĨ]QLHVáDZLDüJUXSĊOXG]LRNUHĞODQąMDNRĪRáQLHU]HZ\NOĊFLRUD] RVRE\XĪ\ZDMąFHSVHXGRQLPyZ                    0RJáRZLĊFHZHQWXDOQLH GRMĞüGREH]SRĞUHGQLHJRQDUXV]HQLDGyEUSUDZQ\FKMHG\QLHRVyEZFKRG]ąF\FKZVNáDGJUXS\OXG]L RNUHĞODQHMMDNRĪRáQLHU]HZ\NOĊFLRUD]RVyEXĪ\ZDMąF\FKSVHXGRQLPyZ                    1DWRPLDVWWUHĞFL]DPLHV]F]RQHSU]H]-8NWyUHGRW\F]\á\ZZRVyEZĪDGHQVSRVyE QLHGRW\F]ą$6L.-LEUDNMHVWMDNLFKNROZLHNSRGVWDZGRSU]\MĊFLDLĪRSLVDQHSRZ\ĪHMZSLV\ EH]SRĞUHGQLRQDUXV]Dá\OXE]DJUDĪDá\GREURPSUDZQ\P$6L.-:\NOXF]DWRPRĪOLZRĞüSU]\]QDQLD VNDUĪąF\PSU]\PLRWXRVyESRNU]\ZG]RQ\FKF]\QHPNWyU\PLDáE\üSU]HGPLRWHPSRVWĊSRZDQLD SU]\JRWRZDZF]HJR =DXZDĪ\üUyZQLHĪQDOHĪ\LĪEUDNMHVWMDNLFKNROZLHNSRGVWDZGRSU]\MĊFLDLĪRSLVDQHSRZ\ĪHMZSLV\ PRJá\]QLHZDĪDü1DUyGOXE5]HF]SRVSROLWą3ROVNąDFR]DW\PLG]LHPLHĞFLüVLĊZG\VSR]\FMLDUWNN