:\URN6ąGX2NUĊJRZHJR]DVNDUĪ\áDVNDUJąNDVDF\MQąXF]HVWQLF]ND'&=DU]XFLáDQDUXV]HQLHSUDZD PDWHULDOQHJRSU]H]EáĊGQąMHJRZ\NáDGQLĊWMDUWNFZ]Z]DUWNFSU]H]QLHWUDIQHSU]\MĊFLHĪH 6NDUE3DĔVWZDQDE\á]PRF\SUDZDZáDVQRĞüXG]LDáyZ5]H6/ZGURG]H]DVLHG]HQLDSRGF]DVJG\FR QDMZ\ĪHMPRĪQDSU]\MąüĪHZ\NRQ\ZDáMHG\QLH]DU]ąGSU]HGPLRWRZąQLHUXFKRPRĞFLąDUWNFZ]Z ]DUWSNWNFSU]H]SU]\MĊFLHĪHQLHLVWQLDáVWDQ]DZLHV]HQLDELHJXWHUPLQX]DVLHG]HQLDLDUWNF Z]Z]DUWNF SU]H]RSDUFLHVLĊGRPQLHPDQLXĪHWHQNWRIDNW\F]QLHZáDGDU]HF]ąMHVWMHMSRVLDGDF]HPVDPRLVWQ\PZ V\WXDFMLJG\EUDNSRGVWDZGRMHJR]DVWRVRZDQLDZVSUDZLHR]DVLHG]HQLHSU]H]ZVSyáZáDĞFLFLHOD QLHUXFKRPRĞFLXG]LDáXQDOHĪąFHJRGRGUXJLHJRZVSyáZáDĞFLFLHOD3RGQLRVáDWDNĪHQDUXV]HQLHSU]HSLVyZ SRVWĊSRZDQLDDWRDUWNSFZ]Z]DUWNSFSU]H]QLHUR]VWU]\JQLĊFLHIDNWyZPDMąF\FKGOD VSUDZ\LVWRWQH]QDF]HQLHLRSDUFLHXVWDOHĔIDNW\F]Q\FKMHG\QLHQDSRGVWDZLHF]ĊĞFL]JURPDG]RQHJRZ VSUDZLHPDWHULDáXGRZRGRZHJRRUD]DUWNSFSRSU]H]X]QDQLHLĪXF]HVWQLF]NDSU]\]QDáDĪH6NDUE 3DĔVWZDZáDGDQLHUXFKRPRĞFLąREMĊWąZQLRVNLHPSRF]ąZV]\RG]DNRĔF]HQLDG]LDáDĔZRMHQQ\FK6NDUĪąFD ZQLRVáDRXFK\OHQLH]DVNDUĪRQHJRRU]HF]HQLDRUD]SRVWDQRZLHQLDVąGXSLHUZV]HMLQVWDQFMLLSU]HND]DQLH VSUDZ\GRSRQRZQHJRUR]SR]QDQLD 8]DVDGQLHQLHSUDZQH 6ąG1DMZ\ĪV]\]ZDĪ\áFRQDVWĊSXMH 1LHX]DVDGQLRQHRND]Dá\VLĊ]DU]XW\GRW\F]ąFHREUD]\SUDZDSURFHVRZHJR:HGáXJDUW†NSF SRGVWDZąVNDUJLNDVDF\MQHMQLHPRJąE\ü]DU]XW\GRW\F]ąFHXVWDOHQLDIDNWyZOXERFHQ\GRZRGyZ 8QRUPRZDQLHWRMHVWZ\QLNLHPWHJRĪHGHOHJHODWDĞURGHNWHQSU]\VáXJXMHRGRU]HF]HĔSUDZRPRFQ\FK: ]ZLą]NX]W\PSRVWĊSRZDQLHSU]HG6ąGHP1DMZ\ĪV]\PWRF]\VLĊSU]HGHZV]\VWNLPZLQWHUHVLH SXEOLF]Q\PLGODWHJRMHVWRSDUWHQDRGPLHQQ\FK]DVDGDFKQLĪSRVWĊSRZDQLHSU]HGVąGHPDSHODF\MQ\P= WHJRZ]JOĊGXQLHPRĪQDRSLHUDüVNDUJLNDVDF\MQHMQD]DU]XFLHREUD]\DUW†NSF7DNL]DU]XWJG\E\ QLHGDOV]HZ\WNQLĊWHEUDNLSRGOHJDMąFHPHU\WRU\F]QHMRFHQLHPyJáE\VNXWNRZDüQDZHWRGU]XFHQLHPVNDUJL NDVDF\MQHM SRUQSSRVWDQRZLHQLH6ąGX1DMZ\ĪV]HJR]GQLDPDMDU,,,&=261&1U SR]LZ\URN6ąGX1DMZ\ĪV]HJR]GQLDOXWHJRU,,&6.QLHSXEOLNRZDQ\  =NROHLDUWNSFVWDQRZLĪHSU]HGPLRWHPGRZRGXPRJąE\üIDNW\PDMąFHGODUR]VWU]\JQLĊFLDVSUDZ\ LVWRWQH]QDF]HQLH:]DVDG]LHQLHPRĪHRQE\üSU]HGPLRWHPQDUXV]HQLDVąGXJG\ĪQLHMHVWRQĨUyGáHP RERZLą]NyZDQLXSUDZQLHĔMXU\VG\NF\MQ\FKOHF]RNUHĞODMHG\QLHZROĊXVWDZRGDZF\RJUDQLF]HQLDNUĊJX IDNWyZNWyUHPRJąE\üSU]HGPLRWHPGRZRGXZSRVWĊSRZDQLXF\ZLOQ\P SRURU]HF]HQLH6ąGX 1DMZ\ĪV]HJR]GQLDOXWHJRU,,,&.1QLHSXEOLNRZDQH *G\E\QDZHWSU]\MąüĪH RGGDOHQLHZQLRVNyZGRZRGRZ\FK]PLHU]DMąF\FKGRZ\MDĞQLHQLDLVWRWQ\FKRNROLF]QRĞFLVSUDZ\VWDQRZL QDUXV]HQLHWHJRDUW\NXáX SRUZ\URN6ąGX1DMZ\ĪV]HJR]GQLDPDUFDU,3.12613  DQLHXQRUPRZDQLD]DZDUWHJRZDUW†NSFNWyU\MDNRQLHSRZRáDQ\RF]\ZLĞFLHQLH PyJáE\üEUDQ\SRGXZDJĊWRLWDNWHQ]DU]XWE\áFK\ELRQ\VNRURMHG\Q\QLHXZ]JOĊGQLRQ\ZQLRVHN