XUHJXORZDQHMV\WXDFMLSUDZQHMOHF]SRGF]DVUR]SUDZ\RND]DáRVLĊĪHPLDáRWRQDFHOXQDZLą]DQLHGR EU]PLHQLDDUWXVWXVWDZ\RRFKURQLH]ZLHU]ąWRERZLą]XMąFHMGRUDQLHREMĊFLH]DNUHVHP ]DVNDUĪHQLDZ\]QDZFyZLVODPX SRUQDVWĊSXMąFHZ\SRZLHG]LSHáQRPRFQLNDZQLRVNRGDZF\ ZVSRPQLDáHPZVZRLPZ\VWąSLHQLXWDNĪHRLVODPLH  $OHRF]\ZLĞFLHZQLRVHNGRW\F]\W\ONRZROQRĞFL UHOLJLMQHMZ]DNUHVLHGRW\F]ąF\PVSRáHF]QRĞFLĪ\GRZVNLHMF]\Z\]QDZFyZMXGDL]PXZ3ROVFH0LPRĪH RJUDQLF]DP\ERPXVLP\RJUDQLF]DüZQLRVHNGRSUDZLZROQRĞFLF]áRQNyZVSRáHF]QRĞFLĪ\GRZVNLHMWR =ZLą]HN*PLQ:\]QDQLRZ\FKĩ\GRZVNLFKV\PSDW\]XMH]ORVHPWDNĪHPX]XáPDQyZNWyU]\VąZ DQDORJLF]Q\PSRáRĪHQLXVLVWHQRJUDPXUR]SUDZ\  :W\PNRQWHNĞFLH]QDF]QLHV]HUV]DNRQFHSFMDSU]\MĊWDSU]H]ZLĊNV]RĞüVNáDGXRU]HNDMąFHJRQDUXV]D ]DVDGĊRU]HNDQLDZJUDQLFDFKZQLRVNX SRUDUWXVWDZ\R7. 0RĪHRQDPLHüWDNĪHGDOV]HUHSHUNXVMH GODUR]XPLHQLDOHJLW\PDFMLV]F]HJyOQHMLRJyOQHMZSRVWĊSRZDQLXSU]HG7U\EXQDáHP.RQVW\WXF\MQ\P ]DFLHUDMąFHUyĪQLFHPLĊG]\QLPL ZEUHZZ\UDĨQHPXZ\RGUĊEQLHQLXW\FKGZyFKLQVW\WXFMLZDUW .RQVW\WXFML :UD]LHMHMNRQVHNZHQWQHJRVWRVRZDQLD]ZLą]NLZ\]QDQLRZHX]\VNDá\E\NRPSHWHQFMĊGR GRZROQHJRNZHVWLRQRZDQLDZV]\VWNLFKUHJXODFMLGRW\F]ąF\FKV]HURNRUR]XPLDQHMZROQRĞFLUHOLJLLQDZHW ZWHG\JG\SRWHQFMDOQLHQHJDW\ZQHVNXWNL]DVNDUĪRQ\FKSU]HSLVyZQLHGRW\F]\á\E\EH]SRĞUHGQLRDQLW\FK SRGPLRWyZDQLWHĪRVyEZ\]QDMąF\FKGDQąUHOLJLĊ=SUDZGRSRGRELHĔVWZHPJUDQLF]ąF\P]SHZQRĞFLą PRĪQDERZLHP]DáRĪ\üĪHNDĪG\]ZLą]HNZ\]QDQLRZ\RXUHJXORZDQHMV\WXDFMLSUDZQHMPDZĞUyGVZRLFK FHOyZRUJDQL]DFMĊSUDNW\NUHOLJLMQ\FKLGEDáRĞüRVSUDZ\ZLDU\DF]DVHPMHG\QLH]NRQWHNVWXWHJRW\SX SU]HSLVyZZ\QLNDMDNLHJRZ\]QDQLDWRGRW\F]\ -HĪHOLMHGQDN7U\EXQDá.RQVW\WXF\MQ\]GHF\GRZDáVLĊQDUR]FLąJQLĊFLHVNXWNyZZ\URNXQDZV]HONLH REU]ĊG\UHOLJLMQHNWyUHSRWHQFMDOQLHPRJąE\üSUDNW\NRZDQHZ3ROVFHSRZLQQRWR]QDOHĨüRGSRZLHGQLH RG]ZLHUFLHGOHQLHZX]DVDGQLHQLXZ\URNX7\PF]DVHPZ\PLHQLRQHVąZQLPMHG\QLHGZDURG]DMHXERMX U\WXDOQHJR]JRGQLH]]DVDGDPLMXGDL]PXLLVODPXSU]\QLHVąRQHRPDZLDQHQDWDNLPVDP\PSR]LRPLH V]F]HJyáRZRĞFL V]HFKLWDMHVWDQDOL]RZDQDVWRVXQNRZRGRNáDGQLH]DĞXEyMPX]XáPDĔVNLSRELHĪQLHSRU F],,,SNWLX]DVDGQLHQLDZ\URNX  1D]DNRĔF]HQLHWHMF]ĊĞFLUR]ZDĪDĔFKFLDáE\P]D]QDF]\üĪHV]F]HJyOQDOHJLW\PDFMDZQLRVNRGDZF\ SRZLQQDVNáRQLü7U\EXQDá.RQVW\WXF\MQ\MHG\QLHGRRJUDQLF]HQLD]DNUHVX]DVNDUĪHQLDDQLHGRXPRU]HQLD SRVWĊSRZDQLD MDNZQLRVNRZDáZQLQLHMV]\PSRVWĊSRZDQLX6HMP  3RGUXJLHRGPLHQQLHQDOHĪDáRWHĪXNV]WDáWRZDüWHU\WRULDOQ\]DNUHVZ\URNX7U\EXQDáX .RQVW\WXF\MQHJR8ZDĪDPĪHQDOHĪDáRRU]HFRGRSXV]F]DOQRĞFL]DND]XXERMXU\WXDOQHJRQDSRWU]HE\ NUDMRZH WMZ\]QDZFyZMXGDL]PXSUDNW\NXMąF\FKZ3ROVFH SRPLMDMąFNZHVWLĊGRSXV]F]DOQRĞFLHNVSRUWX PLĊVDNRV]HUQHJR DZLĊFGRNRQ\ZDQLDXERMXU\WXDOQHJRQDSRWU]HE\Z\]QDZFyZMXGDL]PX SUDNW\NXMąF\FK]DJUDQLFą  :W\PNRQWHNĞFLHGZX]QDF]QHZ\GDMHPLVLĊSRGVXPRZDQLHZ\SRZLHG]LSU]HGVWDZLFLHODZQLRVNRGDZF\ SRGF]DVUR]SUDZ\]DZDUWHZF],,X]DVDGQLHQLDZ\URNX&KRG]LZV]F]HJyOQRĞFLRVWZLHUG]HQLHMDNRE\