SRZRGDQDUXV]DMąFMHJRGREUDRVRELVWHWDNLHMDNF]HĞüJRGQRĞüLPLĊQD]ZLVNRDQDZHWZL]HUXQHN SRZRGD:RFHQLHSRZRGDSR]ZDQ\LGRSR]ZDQ\SU]HGVWDZLDMąQLHSUDZG]LZHLQIRUPDFMHRSRZRG]LH FHOHPMHJRSRQLĪHQLDXPQLHMV]HQLDMHJRZLDU\JRGQRĞFLZRSLQLLSXEOLF]QHMSRGF]DVRWZDUW\FKVSUDZ VąGRZ\FK1DGWRSR]ZDQ\LGRSR]ZDQ\SU]\SLVXMąSRZRGRZLEH]SUDZQLHRNUHĞORQHG]LDáDQLDZW\P SU]HVWĊSF]HQLHSRVLDGDMąFNXWHPXSRGVWDZLGRZRGyZ 3R]ZDQ\QDUR]SUDZLHZGQLXPDMDU F]DVUR]SUDZ\ ZQLyVáRRGGDOHQLHUR]V]HU]RQHJR SR]ZX 1DUR]SUDZLHZGQLXPDMDURGGDORQRZQLRVHNRZH]ZDQLHGRXG]LDáXZVSUDZLH.%1LH ]DFKRG]Lá\ERZLHPSU]HZLG]LDQHZDUW†NSFSU]HVáDQNLGRSR]ZDQLDDOERZLHPSRZyGQLH GRFKRG]LáZQLQLHMV]HMVSUDZQ\FKĪDGQ\FKURV]F]HĔNWyUHPRJá\E\E\üMHGQRF]HĞQLHGRFKRG]RQHZ VWRVXQNXGRSR]ZDQHJR33  RUD]ZVWRVXQNXGR.% 6ąG2NUĊJRZ\Z.UDNRZLH]DVNDUĪRQ\PZ\URNLHP  SRZyG]WZRRGGDOLá  ]DVąG]LáRGSRZRGD'0  QDU]HF]SR]ZDQHJR33  NZRWĊ]áRW\FKW\WXáHP]ZURWXNRV]WyZ SRVWĊSRZDQLD  SU]\]QDáRG6NDUEX3DĔVWZD6ąGX2NUĊJRZHJRZ.UDNRZLHQDU]HF]DGZRNDW00NZRWĊ]á JUW\WXáHPNRV]WyZQLHRSáDFRQHMSRPRF\SUDZQHMXG]LHORQHMSRZRGRZL]XU]ĊGX -DNRSRGVWDZĊIDNW\F]QąUR]VWU]\JQLĊFLD6ąGXVWDOLáQDVWĊSXMąF\VWDQIDNW\F]Q\ 3R]ZDQ\33  MHVWSHáQRPRFQLNLHPSR]ZDQHM%.ZVSUDZLH]SRZyG]WZD'0  RRGV]NRGRZDQLH ]DEH]XPRZQHNRU]\VWDQLH]ORNDOXXĪ\WNRZHJRWRF]ąFHMVLĊSU]H]WXW6ąGHPGRV\JQDNW  3RZyG'0  SU]HE\ZD,]UDHOX=RVWDáSU]\MĊW\QDURNDNDGHPLFNLQD  =DPLHV]NXMHZ PLHV]NDQLXVRFMDOQ\PRWU]\PXMHFRPLHVLĊF]QLHNZRWĊ,/6]L]UDHOVNLFKJUDQWyZU]ąGRZ\FK 2VREDRLPLHQLXLQD]ZLVNX'0  LQLHE\áDSUDFRZQLNLHP  GRZyGHPDLO]GQPDUFDU ZUD]]WáXPDF]HQLHPNSLVPR]GQJUXGQLDUZUD]]WáXPDF]HQLHPN 3R]ZDQ\ZQLQLHMV]HMVSUDZLH33  G]LDáDMąFMDNRSHáQRPRFQLNSR]ZDQHM%.ZVSUDZLHV\JQDNW  QDUR]SUDZLHZGQLXOLSFDU LQDVW SU]HGWXW6ąGHPRĞZLDGF]\áPLĊG]\LQQ\PLLĪ SU]HGáRĪRQHSU]H]SRZRGDGRZRG\]GRNXPHQWyZVąVIDEU\NRZDQHLQLHZLDU\JRGQHLZQLyVáRLFK RGGDOHQLH3RZyGIDEU\NXMHGRZRG\0DMąF]ĊĞFLRZRFHFK\SU]HURELHQLDPLQOLVW]SRJUyĪNDPLNWyU\ PLDáDZ\VáDüGRSRZRGDMHJRVLRVWUD2GQLyVáVLĊUyZQLHĪGRNZHVWLLSURILOXQDSRUWDOXVSRáHF]QRĞFLRZ\P  SR]ZDQHMRUD]GRSURILOXSRZRGDSRGDMąFLĪZLVWRFLHQDOHĪ\RQGRSRZRGDRF]\PĞZLDGF]\IDNWLĪ SRZyGXVXQąá]GMĊFLDQDNWyU\FKE\áZLGRF]Q\LXVXQąá]QDMRP\FK]:GRZyGSURWRNyáHOHNWURQLF]Q\ UR]SUDZ\]GQOLSFDUV\JQDNW  :SLĞPLH]GQLDPDUFDU]áRĪRQ\PGRVSUDZ\  33  G]LDáDMąFMDNRSHáQRPRFQLNSR]ZDQHM ZWHMVSUDZLH%.RĞZLDGF]\áPLĊG]\LQQ\PLĪHSR]ZDQDWUDNWXMHSRZyG]WZR'0  MDNRHOHPHQW