SLĞPLH]GQLDUZNWyU\PVWZLHUG]LáĪHJHWWRZ*URGQLH]RVWDáR]OLNZLGRZDQHPDUFD U JRG]LQDUDQRRVWDWQLWUDQVSRUW  1LHEXG]L]DWHPZąWSOLZRĞFL]DVDGQRĞüRGPRZ\SU]\]QDQLDXSUDZQLHĔ]W\WXáXSRE\WXZJHWFLHZRNUHVLH RGNZLHWQLDGROLSFDUWMXNU\ZDQLDVLĊSU]HGZáDG]DPLKLWOHURZVNLPLQDWHUHQLHQLHLVWQLHMąFHJRMXĪ JHWWD 5DFMĊPDMąRUJDQ\RU]HNDMąFHZVSUDZLHĪHEUDNMHVWSRGVWDZGRX]QDQLD]DUHSUHVMĊZUR]XPLHQLXXVWDZ\ NRPEDWDQFNLHMRNUHVyZXNU\ZDQLDVLĊVNDUĪąFHJRQDWHUHQLHE\áHJRJHWWDLQDVWU\FKXZDUV]WDWX PDVDUVNLHJR0LFKDáD6ZRNUHVLHRGPDUFDUGROLSFDUDWDNĪHZ\NRQ\ZDQLDUREyW SU]\PXVRZ\FKZF]DVLHRNXSDFMLQLHPLHFNLHM*URGQDRGGQLDF]HUZFDUGRSDĨG]LHUQLND U =DUyZQRRERZLą]HNZ\NRQ\ZDQLDUREyWSU]\PXVRZ\FKMDNLXNU\ZDQLDVLĊVNDUĪąFHJRE\á\QDVWĊSVWZHP G]LDáDĔHNVWHUPLQDF\MQ\FKZáDG]KLWOHURZVNLFKZREHFRVyESRFKRG]HQLDĪ\GRZVNLHJROHF]SU]HSLV\ XVWDZ\NRPEDWDQFNLHMQLHSU]HZLGXMąPRĪOLZRĞFLSU]\]QDQLD]WHJRW\WXáXXSUDZQLHĔNRPEDWDQFNLFK 1LHZąWSOLZLHZDUXQNLSRE\WXZMDNLFKXNU\ZDáVLĊVNDUĪąF\QDWHUHQLHEJHWWDMDNLQDVWU\FKXZDUV]WDWX QDSU]HGPLHĞFLX*URGQDE\á\Z\MąWNRZRFLĊĪNLH1LHPRĪQDMHGQDNPLHMVFDXNU\ZDQLDVLĊXWRĪVDPLDü] PLHMVFDPLRGRVREQLHQLDZUR]XPLHQLXDUWXVWSNWOLWEXVWDZ\RNRPEDWDQWDFKZNWyU\FKZDUXQNL SRE\WXQLHUyĪQLá\VLĊRGZDUXQNyZZRER]DFKNRQFHQWUDF\MQ\FKDRVRE\WDPRVDG]RQHSR]RVWDZDá\Z G\VSR]\FMLKLWOHURZVNLFKZáDG]EH]SLHF]HĔVWZD :F]DVLHXNU\ZDQLDVLĊVNDUĪąF\QLHE\áRVREąRVDG]RQąSU]H]ZáDG]HQLHPLHFNLHDQLWHĪQLHSR]RVWDZDáZ G\VSR]\FMLKLWOHURZVNLFKZáDG]EH]SLHF]HĔVWZD =JRG]LüVLĊWDNĪHQDOHĪ\]HVWDQRZLVNLHP.LHURZQLND8U]ĊGXĪHRPDZLDQDXVWDZDRNRPEDWDQWDFKQLH SU]HZLGXMHPRĪOLZRĞFLSRWZLHUG]HQLDXSUDZQLHĔNRPEDWDQFNLFK]SRZRGXV]\NDQVWRVRZDQ\FKSU]H] ZáDG]H35/ZREHFVNDUĪąFHJRZODWDFKNWyUHMDNZ\MDĞQLáZSLVPDFK]GQLDU] GQLDUL]GQLDUSROHJDá\QD]ZROQLHQLX]SUDF\SURZDG]HQLXSU]H]SURNXUDWXUĊ SRVWĊSRZDQLDNDUQHJRRSRSHáQLHQLXSU]HVWĊSVWZD]DUW..QDVWĊSQLHXPRU]RQHJRZGQLXOLSFD UQDSRGVWDZLHXVWDZ\RDPQHVWLL]GQLDOLSFDUDZNRQVHNZHQFML]PXV]HQLDGRHPLJUDFML =GDU]HĔW\FKQLHREHMPXMHSU]HSLVDUWXVWSNWXVWDZ\RNRPEDWDQWDFKNWyU\GRW\F]\SU]HE\ZDQLDZ ZLĊ]LHQLDFKSROVNLFKQDPRF\VND]DQLDZODWDFKSU]H]SROVNLHVąG\SRZV]HFKQHZRMVNRZHOXE VSHFMDOQHDOERSU]HE\ZDQLHZW\PF]DVLHZZLĊ]LHQLDFKEH]Z\URNX]DG]LDáDOQRĞüSROLW\F]QąEąGĨ UHOLJLMQą]ZLą]DQą]ZDONąRVXZHUHQQRĞüLQLHSRGOHJáRĞü 3RPLMDMąFWRĪHVNDUĪąF\QLHSU]HE\ZDáZZLĊ]LHQLDFKSROVNLFKWRSU]\ZRáDQLHSU]H]QLHJR]GDU]HQLD PLDá\PLHMVFHZODWDFKDQLHZODWDFK3RGREQLHWHĪRERZLą]XMąFDXVWDZDR NRPEDWDQWDFKQLH]DOLF]DFKRUyELREUDĪHĔFLDáDGR]QDQ\FKSRGF]DVRPDZLDQHJRZF]HĞQLHMXNU\ZDQLDVLĊ SU]HGZáDG]DPLQLHPLHFNLPLEąGĨGR]QDQ\FKSRGF]DVSHáQLHQLDVáXĪE\Z$UPLL5DG]LHFNLHMZF]DVLH ZRMQ\GRRNROLF]QRĞFLX]DVDGQLDMąF\FKSU]\]QDQLHXSUDZQLHĔNRPEDWDQFNLFK