:DUV]DZDV  3U]HZLG]LDQDZDUWXVWL.RQVW\WXFMLJZDUDQFMDZROQRĞFLUHOLJLLREHMPXMHGRNRQ\ZDQLHZV]HONLFK F]\QQRĞFL SUDNW\NREU]ĊGyZU\WXDáyZ NWyUHPDMąFKDUDNWHUUHOLJLMQ\.RQVW\WXF\MQDRFKURQDREHMPXMH UyZQLHĪF]\QQRĞFLUHOLJLMQHGDOHNLHRG]DFKRZDĔNRQZHQFMRQDOQ\FKGRPLQXMąF\FKZGDQ\PSDĔVWZLHZ W\PF]\QQRĞFLQLHSRSXODUQH]SXQNWXZLG]HQLDVSRáHF]QHMZLĊNV]RĞFL ]RE7-=LHOLĔVNLNRPHQWDU]V  =HZ]JOĊGXQDJZDUDQFMHSU]HZLG]LDQHZDUWLDUW.RQVW\WXFMLZáDG]HSXEOLF]QHQLHSRZLQQ\ RFHQLDü]DVDGQRĞFLSU]HNRQDĔUHOLJLMQ\FKDQLVSRVREyZ]DSRPRFąNWyU\FKVąRQHZ\UDĪDQH=DUD]HP ZROQRĞüUHOLJLLQLHPDFKDUDNWHUXDEVROXWQHJR0RĪHSRGOHJDüRJUDQLF]HQLRPQD]DVDGDFKRNUHĞORQ\FKZ DUWXVW.RQVW\WXFML =XZDJLQDSRZ\ĪV]H7U\EXQDá.RQVW\WXF\MQ\VWZLHUG]LáĪHZSROVNLPSRU]ąGNXNRQVW\WXF\MQ\PXEyM ]ZLHU]ąWZHGáXJV]F]HJyOQ\FKPHWRGNWyUHZ\PDJDQHVąSU]H]REU]ĊG\UHOLJLMQHZFHOXX]\VNDQLD GR]ZRORQHJRSRĪ\ZLHQLDSRGOHJDRFKURQLHZUDPDFKZROQRĞFLUHOLJLLJZDUDQWRZDQHMSU]H]DUWXVWL .RQVW\WXFML 8EyMU\WXDOQ\GRSXV]F]DOQ\MHVWZ]GHF\GRZDQHMZLĊNV]RĞFLSDĔVWZF]áRQNRZVNLFK8QLL(XURSHMVNLHM =RWU]\PDQ\FKSU]H]7U\EXQDáLQIRUPDFMLZ\QLNDĪHQDG]LHĔRU]HNDQLD]DND]XERMXU\WXDOQHJR RERZLą]XMHZ\áąF]QLHZ6]ZHFML3ROVFHL'DQLLDWDNĪHQD/LWZLHJG]LHSU]\MĊWRMHGQDNSU]HSLV\ GRSXV]F]DMąFHWHQXEyMRGVW\F]QLDU:PRW\ZLHUR]SRU]ąG]HQLD5DG\QUZVND]DQR ĪHXWU]\PDQLHRGVWĊSVWZDRGZ\PRJXRJáXV]DQLD]ZLHU]ąWSU]HGXĞPLHUFHQLHPMHVWLVWRWQHDOERZLHPZ WHQVSRVyEUR]SRU]ąG]HQLHUHVSHNWXMHZROQRĞüZ\]QDQLDLSUDZRGRX]HZQĊWU]QLDQLDUHOLJLLOXESU]HNRQDĔ SRSU]H]XSUDZLDQLHNXOWXQDXF]DQLHSUDNW\NRZDQLHLXF]HVWQLF]HQLHZREU]ĊGDFKNWyUHJZDUDQWXMHDUW .DUW\8SU]HGQLRDQDORJLF]QHRGVWĊSVWZRRGZ\PRJXRJáXV]DQLDSU]HZLG]LDQRZG\UHNW\ZLH5DG\QU :(:SUHDPEXOHG\UHNW\Z\SRGNUHĞORQRĪHZSU]\SDGNXUHJXODFMLXERMX]ZLHU]ąWQLH]EĊGQHMHVW XZ]JOĊGQLHQLHV]F]HJyOQ\FKZ\PDJDĔZ\QLNDMąF\FK]RE\F]DMyZUHOLJLMQ\FK3RGREQLHSU]HZLG\ZDáD SUHDPEXáDG\UHNW\Z\5DG\(:* 8EyM]ZLHU]ąWZHGáXJV]F]HJyOQ\FKPHWRGZ\PDJDQ\FKSU]H]REU]ĊG\UHOLJLMQHZFHOXX]\VNDQLD GR]ZRORQHJRGRVSRĪ\FLDPLĊVD]RVWDáRNUHĞORQ\ZRU]HF]QLFWZLHHXURSHMVNLFKVąGyZNRQVW\WXF\MQ\FK MDNRLVWRWQ\HOHPHQWZROQRĞFLZ\]QDQLD:Z\URNXQLHPLHFNLHJR)HGHUDOQHJR6ąGX.RQVW\WXF\MQHJR] VW\F]QLDU 3LHUZV]\6HQDW%Y5SNWX]DVDGQLHQLD VWZLHUG]RQRĪHGRNRQ\ZDQLHXERMX ]ZLHU]ąWSU]H]PX]XáPDĔVNLFKU]H]DNyZZHGáXJV]F]HJyOQ\FKPHWRGZ\PDJDQ\FKSU]H]LVODPSRGOHJD NRQVW\WXF\MQHMRFKURQLHQLHW\ONRZUDPDFKZROQRĞFLZ\NRQ\ZDQLD]DZRGXOHF]WDNĪHZ]ZLą]NX]DUW †LQLHPLHFNLHMXVWDZ\]DVDGQLF]HMSU]HZLGXMąF\PZROQRĞüZ\]QDQLDLVZRERGĊZ\NRQ\ZDQLDSUDNW\N UHOLJLMQ\FK3RGREQLHRU]HNáDXVWULDFNL7U\EXQDá.RQVW\WXF\MQ\ZZ\URNX]JUXGQLDU % 9I6OJ  7U\EXQDá.RQVW\WXF\MQ\]ZUyFLáXZDJĊUyZQLHĪQDZ\URN6ąGX1DMZ\ĪV]HJR86$]F]HUZFDUZ VSUDZLH&KXUFKRIWKH/XNXPL%DEDOX$\HY&LW\RI+LDOHDK 86 ZNWyU\P]DSU]HMDZ