URUHPRQWDFKLRGEXGRZLHWRQLHSR]ZDODáRX]QDüWHJRZáDGDQLD]DSRVLDGDQLHVDPRLVWQHDMHG\QLH ]DG]LHUĪHQLH SSU]\ZRáDQHMXĪZ\ĪHMSRVWDQRZLHQLH61]GQLDOLVWRSDGDU,,,&6.  :QLRVNXWHJRWDNĪHQLH]PLHQLDLWR FRWDNĪH]QDMGXMHSRWZLHUG]HQLHZSU]\ZRáDQ\PMXĪSU]H]6ąG 2NUĊJRZ\RU]HF]QLFWZLH ĪH6NDUE3DĔVWZDQLHZ\VWĊSRZDáRZSLVKLSRWHNLSU]\PXVRZHMQD ]DEH]SLHF]HQLHZLHU]\WHOQRĞFL]W\WXáX]ZURWXNRV]WyZSRQLHVLRQ\FKQDUHPRQWXEXG\QNX-HVWWDNGODWHJR ĪH]áRĪHQLHZQLRVNXRZSLVWDNLHMKLSRWHNLQLHMHVWMHG\QąRNROLF]QRĞFLąZVND]XMąFąQDFKDUDNWHUZáDG]WZD QDGQLHUXFKRPRĞFLą SWDNĪHSRVWDQRZLHQLH61]GQLDJUXGQLDU,,,&6.  :\WáXPDF]HQLHWDNLHJRVWDQXWMEUDNLQLFMDW\Z\Z]DNUHVLHX]\VNDQLD]DEH]SLHF]HQLDKLSRWHF]QHJR Z\GDMHVLĊE\üGRĞüRF]\ZLVWH0XVLDá\WRE\üWDNGUREQHLSUDZGRSRGREQHQLVNRQDNáDGRZHSUDFHVNRUR VDP6NDUE3DĔVWZDQDZHWLFKQLHGRNáDGQLQLHLQZHQWDU\]RZDáLQLHSU]\ZLą]\ZDáGRQLFKZLĊNV]HMWDNĪH HNRQRPLF]QLHZDJL:SU]HFLZQ\PUD]LHRELHNW\ZQLHU]HF]SRMPXMąFPXVLDáE\Z\ND]Dü]XSHáQLHLQQą SRVWDZĊZUDPDFKZáDĞFLZLHSRMPRZDQHMGEDáRĞFLRLQWHUHVSXEOLF]Q\ 5HDVXPXMąFQLHXOHJDĪDGQHMZąWSOLZRĞFLWRĪHSU]HGPLRWRZDQLHUXFKRPRĞü]RVWDáDIDNW\F]QLHSU]HMĊWDZ ]DU]ąGMHGQRVWNLRUJDQL]DF\MQHM6NDUEX3DĔVWZDZ]ZLą]NX]ZSURZDG]HQLHPSXEOLF]QHMJRVSRGDUNL ORNDODPL1LHPD]QDF]HQLDWRĪHE\áRWRSU]HMĊFLHIDNW\F]QHDZLĊFEH]XSU]HGQLHJRZ\GDQLDZW\P ]DNUHVLHVNRQNUHW\]RZDQ\FKUR]VWU]\JQLĊüZSU]HZLG]LDQHMSUDZHPIRUPLH,VWRWQHMHVWERZLHPWRĪH ZV]\VWNLHF]\QQRĞFLQDNWyUHSRZRá\ZDáVLĊZQLRVNRGDZFDD]DWHPVSRU]ąG]DQLHSURWRNRáyZ]GDZF]R RGELRUF]\FKZ\GDZDQLHGHF\]MLZSU]HGPLRFLHQDMPXORNDOL]DZLHUDQLHXPyZQDMPXORNDOL]ELHUDQLH F]\QV]X]QDMPXORNDOLSUDFHQDSUDZF]HLUHPRQWRZHPLDá\VZHĨUyGáRZSU]\ZRáDQ\FKMXĪZ\ĪHM RERZLą]XMąF\FKZyZF]DVSU]HSLVDFK:áDĞQLH]WHMSU]\F]\Q\VWDQRZLá\MHG\QLHRZ\NRQ\ZDQLX]DU]ąGX SU]HGPLRWRZąQLHUXFKRPRĞFLąFRR]QDF]DáRĪHWDNUHDOL]RZDQHZáDGDQLHVWDQRZLáRG]LHUĪHQLHZ UR]XPLHQLXDUWNFDQLHSRVLDGDQLHVDPRLVWQHZUR]XPLHQLXDUWNF7RRVWDWQLHPRJáRE\PLHü PLHMVFHMHG\QLHZyZF]DVNLHG\6NDUE3DĔVWZDZ\NRQ\ZDáE\SUDNW\F]QLHWHVDPHF]\QQRĞFLF]\OL SRNU\ZDá\E\VLĊRQH]W\PLZZDOHQLHPLDá\E\RQHĪDGQHJRXVWDZRZHJRRSDUFLDZSU]\ZRáDQ\FK SRGVWDZDFKERMHG\QLHZWDNLHMV\WXDFMLWHDNW\ZáDGDQLDPRJá\E\E\üX]QDQH]DSRVLDGDQLHVDPRLVWQH ,QQ\PLVáRZ\FKRG]LRV\WXDFMĊZNWyUHMEH]SU]HGPLRWRZ\PE\áRE\VLĊJDQLHSRWRGRGDWNRZHNU\WHULXP LGHQW\ILNDFMLFKDUDNWHUXZáDGDQLDDZLĊFRSUyF]VDPHMRFHQ\]HZQĊWU]Q\FKIRUPZáDGDQLDWDNĪHSR DQDOL]ĊSRGVWDZ\SUDZQHMWHJRZáDGDQLD]SU]\F]\QMXĪZ\F]HUSXMąFRSU]H]6ąG2NUĊJRZ\Z\MDĞQLRQ\FK =W\FKZV]\VWNLFKSU]\F]\QGRV]áRGRVNXWHF]QHJRZ]UXV]HQLDGRPQLHPDQLDSRVLDGDQLDVDPRLVWQHJR 6NDUEX3DĔVWZDFRGRSU]HGPLRWRZHMQLHUXFKRPRĞFLZRNUHVLHF]DVXSU]HZLG]LDQ\PGR]DVLHG]HQLDZ UR]XPLHQLXDUWNF7RR]QDF]DĪHEUDNE\áR]DVDGQLF]HMXVWDZRZHMSU]HVáDQNL]DVLHG]HQLD QLHUXFKRPRĞFLSU]H]6NDUE3DĔVWZDZ\QLNDMąFHM]DUWNFWMSRRVLDGDQLDVDPRLVWQHJRZUR]XPLHQLX DUWNF=DWHPZáDĞFLZHRSDUFLH]QDOD]á\]DU]XW\QDUXV]HQLDSUDZDPDWHULDOQHJR]JáRV]RQHZDSHODFML ZW\P]DNUHVLHZMDNLPGRW\F]\á\SUDZLGáRZRĞFLSU]\SLVDQLDSU]H]6ąGSLHUZV]HMLQVWDQFMLVDPRLVWQHJR SRVLDGDQLD6NDUERZL3DĔVWZD:NRQVHNZHQFMLRGPLHQQHMRFHQ\ZW\P]DNUHVLHGRNRQDQHMSU]H]6ąG 2NUĊJRZ\EH]SU]HGPLRWRZHVWDáRVLĊUR]ZDĪDQLH]DVDGQRĞFLWHMF]ĊĞFL]DU]XWyZQDUXV]HQLDSUDZD