=JRGQLH]DUWXVWXRWS7.ZQLRVHNZVSUDZLH]JRGQRĞFL].RQVW\WXFMąFHOyZSDUWLLSROLW\F]QHM RNUHĞORQ\FKZVWDWXFLHOXESURJUDPLH]DZLHUDWDNĪHZVND]DQLHVWDWXWXOXESURJUDPXSDUWLLSROLW\F]QHMDOER MHJRF]ĊĞFLNWyUHEXG]ąZąWSOLZRĞFLNRQVW\WXF\MQH =JRGQLH]DUWXVWXRWS7.ZQLRVHNZVSUDZLH]JRGQRĞFL].RQVW\WXFMąG]LDáDOQRĞFLSDUWLL SROLW\F]QHM]DZLHUDWDNĪHZVND]DQLHRSLVXG]LDáDOQRĞFLSDUWLLSROLW\F]QHMNWyUąZQLRVNRGDZFDFKFHSRGGDü RFHQLH =NROHLNRQVW\WXF\MQąNRPSHWHQFMą7U\EXQDáXMHVW]JRGQLH]DUWSNW.RQVW\WXFMLRU]HNDQLHZ VSUDZDFK]JRGQRĞFL].RQVW\WXFMąFHOyZOXEG]LDáDOQRĞFLSDUWLLSROLW\F]Q\FK.RQVW\WXFMDQLHRJUDQLF]D ]DWHPNRJQLFML7.GRNRQWUROLFHOyZSDUWLLSROLW\F]Q\FKZ\UDĪRQ\FKZ\áąF]QLHZLFKVWDWXFLHOXE GRNXPHQFLHQD]ZDQ\PSURJUDPHPSDUWLLSROLW\F]QHM3U]HFLZQLH]DUWSNW.RQVW\WXFMLZ\QLNDĪH FHOSDUWLLSROLW\F]QHMPRĪHSRGOHJDüUHNRQVWUXNFMLWDNĪHZRSDUFLXRLQQHGRZRG\ 3URNRQVW\WXF\MQDZ\NáDGQLDDUWXRWS7.SURZDG]LGRNRQNOX]MLĪHSURJUDPSDUWLLRNWyU\PVWDQRZL ZVND]DQ\SU]HSLVXVWDZ\RRUJDQL]DFML7.QLHRJUDQLF]DVLĊZ\áąF]QLHGRGRNXPHQWXRWDNLHMQD]ZLH SU]\MĊWHJRSU]H]VWDWXWRZHRUJDQ\SDUWLLSROLW\F]QHMDOHZ\QLNDUyZQLHĪ]LQQ\FKGRNXPHQWyZ SURJUDPRZ\FKSURSDJRZDQLDSURJUDPXSDUWLLZSXEOLNDFMDFKSU]H]QLąZ\GDZDQ\FKF]\]Z\SRZLHG]L SXEOLF]Q\FKF]áRQNyZVWDWXWRZ\FKRUJDQyZSDUWLL 3RQDGWRSRVáXĪHQLHVLĊSU]H]XVWURMRGDZFĊZDUWSNW.RQVW\WXFMLVSyMQLNLHPOXERGG]LHODMąF\PFHO SDUWLLSROLW\F]QHMRGMHMG]LDáDOQRĞFLSRGREQLHMDNSU]H]XVWDZRGDZFĊZDUWXRWS7.ZVND]XMHQD PRĪOLZRĞüZ]DMHPQHJRRGG]LDá\ZDQLDFHOyZSDUWLLSROLW\F]QHMLMHMG]LDáDOQRĞFLNWyUDPRĪHVWDQRZLü F]ĊVWRNURüZ\UD]NRQNUHWQHJRVSRVREXUR]XPLHQLDFHOyZSDUWLLRNUHĞORQ\FKZMHMV]HURNRUR]XPLDQ\P SURJUDPLH]ZáDV]F]DZWHG\JG\SURJUDPSDUWLLXFKZDORQ\SU]H]MHMVWDWXWRZHRUJDQ\SRVáXJXMHVLĊ SRMĊFLDPLRJyOQ\PLLZLHOR]QDF]Q\PL'RVWU]HJáWRUyZQLHĪMDNPRĪQDSU]\SXV]F]DüXVWDZRGDZFD PRG\ILNXMąFSURFHGXUĊUR]SR]QDZDQLDSU]H]7U\EXQDá.RQVW\WXF\MQ\ZQLRVNXZVSUDZLH]JRGQRĞFL G]LDáDOQRĞFLSDUWLLSROLW\F]QHM].RQVW\WXFMą2GVWąSLáRGRGSRZLHGQLHJRVWRVRZDQLDNRGHNVXSRVWĊSRZDQLD NDUQHJRLXUHJXORZDáZDUWXRWS7.MHGQROLFLHSRVWĊSRZDQLHZVSUDZLHZQLRVNXGRW\F]ąFHJR ]JRGQRĞFL].RQVW\WXFMąFHOyZSDUWLLSROLW\F]Q\FKRNUHĞORQ\FKZVWDWXFLHOXESURJUDPLHRUD]ZQLRVNX GRW\F]ąFHJRNRQVW\WXF\MQRĞFLG]LDáDOQRĞFLSDUWLLSROLW\F]QHMQDND]XMąFZRE\GZXSU]\SDGNDFK SURFHGRZDQLHQD]DVDGDFKLZWU\ELHSU]HZLG]LDQ\PGODUR]SR]QDZDQLDZQLRVNyZZVSUDZLH]JRGQRĞFL DNWyZQRUPDW\ZQ\FK].RQVW\WXFMąUDW\ILNRZDQ\PLXPRZDPLPLĊG]\QDURGRZ\PLOXEXVWDZDPL 3U]HGPLRWZQLRVNXLSU]HGPLRWNRQWUROL :QLQLHMV]HMVSUDZLH3UH]\GHQWZQLyVáRVWZLHUG]HQLHQLH]JRGQRĞFL  FHOyZZSLVDQHMGRHZLGHQFMLSDUWLLSROLW\F]Q\FKSRGQXPHUHP(Z3SDUWLLSROLW\F]QHM.33WDN RNUHĞORQ\FKZSUHDPEXOHDUWXVWL6WDWXWX.RPXQLVW\F]QHM3DUWLL3ROVNL'ąEURZD*yUQLF]D OLSLHFRUD]3URJUDPLH.RPXQLVW\F]QHM3DUWLL3ROVNLXFKZDORQ\PQD,9=MHĨG]LH'ąEURZD *yUQLF]DJUXG]LHĔ GDOHM3URJUDP.33 MDNLZ\QLNDMąF\FK]SURJUDPRZHMG]LDáDOQRĞFLWHMSDUWLL