plan wynikowy sprawdziany kontrolno - oceniaj ce wybranych ...
plan wynikowy sprawdziany kontrolno - oceniaj ce wybranych ...
plan wynikowy sprawdziany kontrolno - oceniaj ce wybranych ...
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
3/$1:
']LDá<br />
SURJU<br />
/HNNRDWOHW\ND<br />
7HPDW<br />
3R]QDMHP\üZLF]HQLDRJyOQRUR]ZRMRZH<br />
GRVNRQDOLP\Z\WU]\PDáRüSRSU]H]<br />
PDUV]RELHJWHUHQRZ\<br />
3R]QDMHP\]DVDG\UR]áR*HQLDVLáZELHJXQD<br />
UHGQLPLGáXJLPG\VWDQVLH<br />
2UJDQL]XMHP\PDUV]RELHJLZGRZROQ\P<br />
WHPSLHQDG\VWDQVLHGRP<br />
'RVNRQDOLP\WHFKQLN VWDUWXQLVNLHJRXF]\P\<br />
VL VNLSyZ$%&<br />
'RVNRQDOLP\WHFKQLN VNLSyZ$%&<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDVWDUWX<br />
QLVNLHJRLVNLSyZ$%&<br />
6DPRG]LHOQLHGRELHUDP\üZLF]HQLDUR]ZLMDMFH<br />
VL PP55LREUF]\EDUNRZHM<br />
5]XFDP\Uy*Q\PLSU]\ERUDPL]PLHMVFDL]<br />
UR]ELHJXGRFHOXLQDRGOHJáRü<br />
'RVNRQDOLP\WHFKQLN U]XWXSLáN FL*N ZW\á<br />
SRQDGJáRZ<br />
8F]\P\VL VNRNXZ]Z\* WHFKQLN QR*\FRZ<br />
:\NRQXMHP\üZLF]HQLDSU]\JRWRZDZF]HGR<br />
VNRNXZ]Z\* WHFKQLN IORS<br />
8F]\P\VL VNRNXZ]Z\* WHFKQLN IORS<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
]ZLQQRFLSUyEDVLá\55<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
V]\ENRFLSUyEDVLá\PPEU]XFKD<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyEDPRF\<br />
SUyEDZ\WU]\PDáRFL<br />
8:$*,25($/,=$&-,<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
:\NRQDPDUV]RELHJZZROQ\P<br />
WHPSLH<br />
:LHMDNUR]áR*\üVLá\ZELHJX<br />
:\NRQDPDUV]RELHJZZROQ\P<br />
WHPSLH<br />
:\NRQDSUDZLGáRZ\VWDUWQLVNLSR<br />
NRUHNFLHSU]H]QDXF]\FLHODZ\NRQD<br />
VNLS$ZZROQ\PWHPSLH<br />
:\NRQDVNLS$%&ZZROQ\PWHPSLH<br />
:\NRQDSUDZLGáRZ\VWDUQLVNL<br />
:\NRQDVNLS$%&SRNRUHNFLH<br />
QDXF]\FLHOD<br />
:\MDQLSRMFLHVLá\Z\NRQD<br />
üZLF]HQLDZJZVND]yZHNQOD<br />
3RSUDZQLHZ\NRQDU]XW\SR<br />
LQVWUXNFMDFKQDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDVFKHPDWUXFKRZ\<br />
U]XWX<br />
3RSUDZQLHZ\NRQDVNRNWHFKQLN<br />
QR*\FRZ<br />
:\NRQDüZLF]HQLDSU]\JRWRZDZF]H<br />
:\NRQDGREU\QDELHJWHFKQLND<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
:\NRQDSUyE\]PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\NRQDSUyE\]PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\NRQDSUyE\] PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
:\NRQDPDUV]RELHJZGREU\PWHPSLH<br />
8PLHMWQLHUR]áR*\VLá\SRGF]DVELHJX<br />
:\NRQDPDUV]RELHJZGREU\PWHPSLH<br />
6DPRG]LHOQLHZ\NRQDVWDUWQLVNL<br />
Z\NRQDVNLS$L&ZZROQ\PWHPSLH<br />
:\NRQDVNLS$%&ZRGSRZLHGQLP<br />
U\WPLH<br />
:\NRQDSUDZLGáRZ\VWDUQLVNLSHáQL<br />
URO VWDUWHUD<br />
:áDFLZLHZ\NRQDVNLS\$%&<br />
=QD]DVDG\SUDZLGáRZHJRGRERUXL<br />
Z\NRQ\ZDQLDüZLF]H VLáRZ\FK<br />
6ZRERGQLHZ\NRQDU]XW\<br />
'RNáDGQLHRGZ]RURZXMHVFKHPDW<br />
UXFKRZ\U]XWX<br />
3RSUDZQLHZ\NRQDVNRNWHFKQLN<br />
QR*\FRZ ]SRNRQDQLHPSRSU]HF]NL<br />
'RNáDGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]H<br />
6DPRG]LHOQLHZ\NRQDQDELHJLVNRN<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH<br />
VSUDZG]LDQ\ 7HUP<br />
GOD8SURSRQXMFHJRJU<br />
OXE]DEDZ<br />
GODZV]\VWNLFKNWyU]\<br />
GRELHJOLEH]]DWU]\PDQLD<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
2FHQ\]DWHFKQLN Z\NRQDQLD<br />
GOD8QDMEDUG]LHM<br />
]DDQJD*RZDQHJRZOHNFM<br />
]DQDMOHSV]\Z\QLN<br />
GODSDU\Z\NRQXMFHM<br />
QDMV]\EFLHM]DGDQLH<br />
2FHQ\ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
‹E\:RMWHN8ODWRZVNL<br />
ZZZZ\FKRZDQLHIL]\F]QHSO<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
:\NRQXMHP\üZLF]HQLDNV]WDáWXMFHUDPLRQ<br />
QyJWXáRZLDJáRZ\<br />
8F]\P\VL FKRGXSRSU]\U]GDFK<br />
UyZQRZD*Q\FK<br />
'RVNRQDOLP\FKyGSRSU]\U]GDFK<br />
UyZQRZD*Q\FK<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
:\NRQDFKyGSRSU]\U]GDFK]<br />
DVHNXUDFM QDXF]\FLHOD<br />
:\NRQDFKyGVDPRG]LHOQLHWHFKQLND<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3URSRQXMHLZ\NRQDüZSU]\JRWRZXMFH<br />
GRZ\VLáNXIL]\F]QHJR<br />
6DPRG]LHOQLHZ\NRQDFKyGSR<br />
SU]\U]GDFK<br />
6ZRERGQLHLGRNáDGQLHZ\NRQDFKyGSR<br />
SU]\U]GDFK<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HSU]HMFLH<br />
'RVNRQDOLP\SU]HZUyWZSU]yG]SU]\VLDGXGR<br />
SU]\VLDGXSRGSDUWHJR<br />
'RVNRQDOLP\SU]HZUyWZW\á]SU]\VLDGXGR<br />
SU]\VLDGXSRGSDUWHJR<br />
8F]\P\VL SU]HZURWXZSU]yGORWQHJR<br />
<br />
<br />
<br />
:\NRQDSU]HZUyWWHFKQLNDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
:\NRQDSU]HZUyWWHFKQLNDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
'RNáDGQLHZ\NRQDSU]HZUyWEH]<br />
GRGDWNRZHMSRPRF\<br />
'RNáDGQLHZ\NRQDSU]HZUyWEH]<br />
GRGDWNRZHMSRPRF\<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
GOD8QDMOHSLHM<br />
Z\NRQXMFHJRDVHNXUDFM<br />
8F]\P\VL SU]HZURWXZSU]yG]QDVNRNX<br />
ORWQHJR<br />
'RVNRQDOLP\SU]HZUyWZSU]yG]QDVNRNX<br />
ORWQHJR<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLD<br />
SU]HZURWXZSU]yG]QDVNRNXORWQHJR<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
:\NRQDSU]HZUyW]SRPRF<br />
QDXF]\FLHOD<br />
:\NRQDVDPRG]LHOQLHSU]HZUyWSR<br />
NRUHNFLHSU]H]QDXF]\FLHOD<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
'RNáDGQLHZ\NRQDSU]HZUyWEH]<br />
GRGDWNRZHMSRPRF\<br />
6DPRG]LHOQLHLGRNáDGQLHZ\NRQD<br />
SU]HZUyWZSU]yGORWQ\<br />
GOD8QDMEDUG]LHM<br />
]DDQJD*RZDQHJRZOHNFM<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
8F]\P\VL SU]HZURWXZW\áRQRJDFKSURVW\FK<br />
'RVNRQDOLP\SU]HZUyWZW\áRQRJDFK<br />
SURVW\FK<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLD<br />
SU]HZURWXZW\áRQRJDFKSURVW\FK<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
:\NRQDSU]HZUyW]SRPRF<br />
QDXF]\FLHOD<br />
:\NRQDVDPRG]LHOQLHSU]HZUyWSR<br />
NRUHNFLHSU]H]QDXF]\FLHOD<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSU]HZURWX<br />
'RNáDGQLHZ\NRQDSU]HZUyWZW\áEH]<br />
GRGDWNRZHMSRPRF\<br />
6DPRG]LHOQLHLGRNáDGQLHZ\NRQD<br />
SU]HZUyWZW\á<br />
GOD8QDMOHSLHM<br />
Z\NRQXMFHJRDVHNXUDFM<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
'RVNRQDOLP\VWDQLHQDUNDFKSU]\GUDELQFH<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDVWDQLDQD<br />
UNDFKSU]\GUDELQFH<br />
<br />
<br />
:\NRQDVWDQLHQDUNDFKWHFKQLND<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
:\NRQDVWDQLHQDUNDFKSU]\<br />
GUDELQFH]QLHZLHON SRPRF 1<br />
'RNáDGQLHZ\NRQDVWDQLHEH]GRGDWNRZHM<br />
SRPRF\<br />
6DPRG]LHOQLHLGRNáDGQLHZ\NRQDVWDQLH<br />
QDUNDFKSU]\GUDELQFH<br />
GOD8QDMOHSLHM<br />
Z\NRQXMFHJRDVHNXUDFM<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
*LPQDVW\NDSRGVWDZRZD<br />
'RVNRQDOLP\SU]HU]XWERNLHP<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDSU]HU]XWX<br />
ERNLHP<br />
<br />
<br />
:\NRQDSU]HU]XWERNLHP]SRPRF<br />
QDXF]\FLHOD<br />
:\NRQDVDPRG]LHOQLHSU]HU]XWSR<br />
NRUHNFLHSU]H]QDXF]\FLHOD<br />
'RNáDGQLHZ\NRQDSU]HU]XWEH]<br />
GRGDWNRZHMSRPRF\<br />
6DPRG]LHOQLHLGRNáDGQLHZ\NRQD<br />
SU]HU]XWERNLHP<br />
2FHQDVWRSQLHP ]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
8:$*,25($/,=$&-,
‹E\:RMWHN8ODWRZVNL<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
$HURELF<br />
G]LHZF]WD<br />
.V]WDáWXMHP\JLENRüLNRRUG\QDFM UXFKXZ<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP<br />
SRODGNRZ\FKZüZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP55Z<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PPEU]XFKD<br />
ZüZLF]HQLDFKSU]\PX]\FH<br />
<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
3LáNDQR*QD<br />
FKáRSF\<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLSUDZ LOHZ<br />
QRJD]H]PLDQ NLHUXQNX<br />
'RVNRQDOLP\XGHU]DQLHLSU]\MFLHSLáNLSUDZ<br />
LOHZ QRJ<br />
'RVNRQDOLP\SU]\MFLHLSURZDG]HQLHSLáNL<br />
]DNRF]RQHVWU]DáHPQDEUDPN ]G\VWDQVX<br />
:\NRQXMHP\VWU]Dá\QDEUDPN ]HVWDá\FK<br />
IUDJPHQWyZJU\<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
PLQL31JHWERO<br />
<br />
<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDSURZDG]HQLHSLáNL<br />
3RSUDZQLHZ\NRQDXGHU]HQLHL<br />
SU]\MFLHSLáNL<br />
:\NRQDSU]\MFLHSURZDG]HQLHSLáNLL<br />
VWU]DáWHFKQLNDZ\PDJDNRUHNW\QOD<br />
3RSUDZQLHZ\NRQDVWU]Dá\QDEUDPN<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SURZDG]HQLHPSLáNL<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SU]\MFLHPLXGHU]HQLHP<br />
6ZRERGQLHZ\NRQDZV]\VWNLHHOHPHQW\<br />
WHFKQLF]QH<br />
6ZRERGQLHZ\NRQDVWU]Dá\QDEUDPN<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHJR<br />
QDMWUXGQLHMV]HüZLF]<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
3LáNDVLDWNRZD<br />
'RVNRQDOLP\ZJUDFKL]DEDZDFKNRRUG\QDFM<br />
UXFKRZR± Z]URNRZR± VáXFKRZ<br />
8F]\P\VL SU]\MPRZDQLDSR]\FMLVLDWNDUVNLHM<br />
LSRUXV]DQLDVL NURNLHPRGVWDZQR±<br />
GRVWDZQ\PZUy*Q\FKNLHUXQNDFK<br />
8F]\P\VL RGELFLDSLáNLVSRVREHPJyUQ\P<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPJyUQ\P<br />
QDGVRE LRFLDQ<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPJyUQ\P<br />
ZSDUDFKEH]LSU]H]VLDWN<br />
8F]\P\VL RGELFLDSLáNLVSRVREHPGROQ\P<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPGROQ\P<br />
QDGVRE<br />
6SUDZG]DP\XPLHMWQRüQDSU]HPLHQQHJR<br />
RGELFLDSLáNLVSGROQ\PLJyUQ\PQDGVRE<br />
8F]\P\VL Z\NRQ\ZDQLD]DJU\ZNLVSRVREHP<br />
GROQ\P<br />
'RVNRQDOLP\Z\NRQDQLH]DJU\ZNLVSRVREHP<br />
GROQ\P<br />
'RVNRQDOLP\Z\NRQDQLH]DJU\ZNLVSRVREHP<br />
GROQ\PNLHURZDQHMZRNUHORQHVHNWRU\ERLVND<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHPLQL<br />
VLDWNyZNDJUDZáDFLZD<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK<br />
3RSUDZQLHSU]\MPLHSRVWDZ<br />
VLDWNDUVN LSRUXV]DVL NURNLHP<br />
RGVWDZQR± GRVWDZQ\PZUy*Q\FK<br />
NLHUXQNDFK<br />
3RSUDZQLHZ\NRQDFKZ\WZ<br />
ÄNRV]\F]HN´Z\PDJDNRUHNW\QDXF]<br />
3RSUDZQLHZ\NRQDNLONDRGELü<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDRGELFLDPD<br />
SUREOHP\]SU]HELFLHPSU]H]VLDWN<br />
3RSUDZQLHZ\NRQDSRMHG\QF]H<br />
RGELFLD<br />
3RSUDZQLHZ\NRQDRGELFLDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHRGELMDSLáN QDGVRE<br />
3RSUDZQLHZ\NRQD]DJU\ZN<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQD]DJU\ZN SU]H]<br />
VLDWN<br />
3RSUDZQLHZ\NRQD]DJU\ZN SU]H]<br />
VLDWN<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZLF]HQLD<br />
'RNáDGQLHLVZRERGQLHSU]\MPLHSRVWDZ<br />
VLDWNDUVNSRUXV]DVL NURNLHPRGVWDZQR<br />
± GRVWDZQ\P<br />
3UDZLGáRZRZ\NRQDFKZ\WZ<br />
ÄNRV]\F]HN´<br />
6ZRERGQLHZ\NRQDNLONDSRMHG\QF]\FK<br />
RGELü<br />
6ZRERGQLHRGELMHSLáN ZSDUDFKQLHPD<br />
SUREOHPX]SU]HELFLHPSU]H]VLDWN<br />
6ZRERGQLHZ\NRQDNLONDSRMHG\QF]\FK<br />
RGELü<br />
6ZRERGQLHRGELMHSLáN VSRVREHP<br />
GROQ\PQDGVRE<br />
6ZRERGQLHRGELMHSLáN QDGVRE<br />
]DFKRZXMFSUDZLGáRZ SRVWDZ<br />
'RNáDGQLHWHFKQLF]QLHZ\NRQD]DJU\ZN<br />
6ZRERGQLHLGRNáDGQLHZ\NRQD]DJU\ZN<br />
SU]H]VLDWN<br />
:\NRQD]DJU\ZN SU]H]VLDWN Z<br />
RNUHORQ\SXQNW<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]L]DEDZ<br />
NRRUG\QDF\MQ<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODSDU\]QDMZLNV]<br />
OLF]E RGELüSU]H]VLDWN<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
2FHQD]DSRSUDZQH<br />
WHFKQLF]QLHRGELMDQLHSLáNL<br />
GOD8SURSRQXMFHJR<br />
QRZD]DEDZ<br />
GOD8]DQDMZLFHM<br />
SXQNWRZDQ\FK]DJU\ZHN<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
‹E\:RMWHN8ODWRZVNL<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
3LáNDNRV]\NRZD<br />
'RVNRQDOLP\SU]\MFLHSRVWDZ\NRV]\NDUVNLHM<br />
ZDWDNXLZREURQLH<br />
'RVNRQDOLP\SRUXV]DQLHVL SRERLVNXZ<br />
REURQLHLZDWDNX<br />
'RVNRQDOLP\NR]áRZDQLHSLáNLZGRZROQ\P<br />
WHPSLHL NLHUXQNXSUDZ LOHZ UN ZPLHMVFX<br />
LZUXFKX<br />
'RVNRQDOLP\U]XWGRNRV]DVSRVREHPJyUQ\P<br />
REXUF]LMHGQRUF]<br />
'RVNRQDOLP\SRGDQLDLFKZ\W\REXUF]VSU]HG<br />
NODWNLSLHUVLRZHMZPLHMVFXLZUXFKX<br />
'RVNRQDOLP\SRGDQLDSLáNLMHGQRUF]Z<br />
PLHMVFXLZUXFKX<br />
8F]\P\VL NR]áRZDüSLáN ZNRQWDNFLH]<br />
REURF<br />
'RVNRQDOLP\NR]áRZDQLHSLáNLZNRQWDNFLH]<br />
REURF<br />
3R]QDMHP\]DVDG\NU\FLDÄND*G\VZHJR´<br />
8F]\P\ VL ]DWU]\PDQLD QD L WHPSD<br />
]DNRF]RQHU]XWHP<br />
'RVNRQDOLP\ ]DWU]\PDQLH QD L WHPSD<br />
]DNRF]RQHU]XWHP<br />
6SUDZG]DP\ XPLHMWQRü U]XWX GR NRV]D SR<br />
]DWU]\PDQLXQDLWHPSD<br />
8F]\P\VL SURZDG]HQLDSLáNLZL<br />
]DNRF]RQHJRU]XWHPGRNRV]D<br />
8F]\P\VL ]ELHUDQLDSLáNL]WDEOLF\Z<br />
REZRG]LHVWDF\MQ\P<br />
8F]\P\VL WDNW\NLSU]HSURZDG]DQLD<br />
V]\ENLHJRDWDNX<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RSUDZQLHSU]\MPLHSRVWDZ<br />
NRV]\NDUVN<br />
3RSUDZQLHSRUXV]DVL SRNRUHNFLH<br />
QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDNR]áRZDQLHZ<br />
PLHMVFXZUXFKXSRWU]HEQDNRUHNWD<br />
QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDU]XWGRNRV]D<br />
3RSUDZQLHZ\NRQDSRGDQLDSR<br />
NRUHNFLHQDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDSRGDQLDZPLHMVFX<br />
3RSUDZQLHZ\NRQDNR]áRZDQLH<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDNR]áRZDQLHZ<br />
UXFKXSRWU]HEQDNRUHNWDQDXF]\FLHOD<br />
=QD]DVDG\NU\FLDÄND*G\VZHJR´<br />
3RSUDZQLHZ\NRQD]DWU]\PDQLHQD<br />
WHPSR<br />
3RSUDZQLHZ\NRQD]DWU]QDL<br />
WHPSDPDSUREOHP\]U]XWHP<br />
3RSUDZQLHZ\NRQDU]XWSR<br />
]DWU]\PDQLXQDLWHPSD<br />
=QD]DVDG\SRUXV]DQLDVL ZELHJX<br />
SU]\SRGDQLDFKSLáNLZL<br />
=QD]DVDG\WZRU]HQLDREZRGX<br />
VWDF\MQHJR<br />
=QD]DVDG\SU]HSURZDG]HQLD<br />
V]\ENLHJRDWDNX<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
'RNáDGQLHRGZ]RUXMHSRVWDZ<br />
NRV]\NDUVN<br />
6ZRERGQLHLGRNáDGQLHSRUXV]DVL SR<br />
ERLVNX<br />
6ZRERGQLHZ\NRQDNR]áRZDQLHZUXFKX<br />
3RSUDZQLHLSHZQLHZ\NRQDU]XWGRNRV]D<br />
6DPRG]LHOQLHLGREU]HZ\NRQDSRGDQLD<br />
REXUF]<br />
6ZRERGQLHLGRNáDGQLHSRGDQLDMHGQRUF]<br />
:áDFLZLHDVHNXUXMHSLáN<br />
6ZRERGQLHZ\NRQDNR]áRZDQLH]REURF<br />
6NXWHF]QLHVWRVXMH]DVDG\NU\FLDÄND*G\<br />
VZHJR´<br />
'REU]HZ\NRQD]DWU]\PDQLHQDL<br />
WHPSD<br />
6ZRERGQLHZ\NRQDU]XWGRNRV]DSR<br />
]DWU]\PDQLXQDLWHPSD<br />
6ZRERGQLHLGRNáDGQLHZ\NRQDU]XWSR<br />
]DWU]\PDQLXQDLWHPSD<br />
6ZRERGQLHSURZDG]LSLáN ZL<br />
3URSRQXMHQRZHVWDFMH<br />
6ZRERGQLH]DLQLFMXMHLSU]HSURZDG]L<br />
V]\ENLDWDN<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GODQDMEDUG]LHM<br />
]DDQJD*RZDQ\FKZOHNFML<br />
GOD8NWyU\<br />
VDPRG]LHOQLHSU]HSURZDG]L<br />
]DEDZ ELHJRZ<br />
GODQDMOHSV]HJR<br />
ÄVQDMSHUD´<br />
GODSDU\]DQDMZLFHM<br />
SUDZLGáRZ\FKSRGD<br />
GOD8]DSURSR]\FMH<br />
QDMFLHNDZV]HM]DEDZ\<br />
GODQDMOHSV]HJR<br />
ÄGU\EOHUD´<br />
2FHQD]DGRNáDGQRüL<br />
VZRERG Z\NRQDQLD<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV] VWDFM<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH<br />
VSUDZG]LDQ\ 7HUP<br />
3LáNDUF]QD<br />
'RVNRQDOLP\NR]áRZDQLHSLáNLSUDZ LOHZ<br />
UN ZPLHMVFXRUD]ZUXFKX<br />
'RVNRQDOLP\SRGDQLDMHGQRUF]SyáJyUQHL<br />
FKZ\W\SLáNLREXUF]ZPLHMVFXLZUXFKX<br />
'RVNRQDOLP\U]XWMHGQRUF]]PLHMVFD<br />
8F]\P\VL U]XWXGREUDPNLSRQDELHJXZ<br />
U\WPLHWUyMNURNRZ\PSRNR]áRZDQLXLSR<br />
ELHJX<br />
'RVNRQDOLP\U]XWGREUDPNLSRQDELHJXZ<br />
U\WPLHWUyMNURNRZ\PSRNR]áRZDQLXLSR<br />
ELHJX<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RSUDZQLH Z\NRQDNR]áRZDQLHZ<br />
PLHMVFXLZUXFKX<br />
3RSUDZQLHZ\NRQDSRGDQLDZ<br />
PLHMVFXZUXFKXSRWU]HEQDNRUHNWD<br />
3RSUDZQLHZ\NRQDU]XW\]PLHMVFDSR<br />
NRUHNFLHQDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDQDELHJZZROQ\P<br />
WHPSLH<br />
3RSUDZQLHZ\NRQDZROQRQDELHJ<br />
SU]\ZLNV]\PWHPSLHSRWU]HEQD<br />
NRUHNWDQDXF]\FLHOD<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
6ZRERGQLHLGRNáDGQLHZ\NRQD<br />
NR]áRZDQLHZUXFKX<br />
3UDZLGáRZRLVZRERGQLHZ\NRQDSRGDQLD<br />
ZPLHMVFXL ZUXFKX<br />
6ZRERGQLHZ\NRQDU]XW\]PLHMVFD<br />
3UDZLGáRZRZ\NRQDQDELHJZGREU\P<br />
WHPSLH<br />
6ZRERGQLHLGRNáDGQLHZ\NRQDQDELHJZ<br />
V]\ENLPWHPSLH<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODQDMOHSV]HJRVWU]HOFD<br />
GOD8NWyU\<br />
VDPRG]LHOQLHSU]HSURZDG]L<br />
]DEDZ V]\ENRFLRZ<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
6SRUW\<br />
]LPRZH<br />
:\NRU]\VWXMHP\QLHJSRGF]DVJLHUL]DEDZ<br />
U]XWQ\FK<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK 3URSRQXMHQRZHJU\L]DEDZ\QDQLHJX GOD8NWyU\VDPRG]<br />
SU]HSURZDG]L]DEDZ<br />
VNRF]QRFLRZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
8QLKRF<br />
8F]\P\VL SRUXV]DQLDSRERLVNX<br />
SU]\MPRZDQLDSUDZLGáRZHMSRVWDZ\ZDWDNXL<br />
ZREURQLH<br />
8F]\P\VL SURZDG]HQLDNU*NDLSLáNLZ<br />
GRZROQ\PWHPSLHLNLHUXQNX<br />
8F]\P\VL SRGD LSU]\MüNU*NDLSLáNLZ<br />
PLHMVFX<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHSU]HSLV\JUD<br />
V]NROQD<br />
8:$*,2 5($/,=$&-,<br />
<br />
<br />
<br />
<br />
3RSUDZQLHSU]\MPLHSRVWDZ<br />
3RSUDZQLHZ\NRQDSURZDG]HQLH<br />
NU*NDSURZDG]HQLHSLáNLZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDSRGDQLDZ<br />
PLHMVFX<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
'RNáDGQLHRGZ]RUXMHVFKHPDWSRVWDZ\<br />
'RNáDGQLHSURZDG]LNU*HNLSLáN<br />
'RNáDGQLHLVZRERGQLHZ\NRQDSRGDQLD<br />
ZPLHMVFX<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]L]DEDZ<br />
Z\WU]\PDáRFLRZ<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
5HNUHDFMDUXFKRZD<br />
8F]\P\VL RGELFLDSLáNLNLMHPEDVHEDOORZ\P<br />
]ZáDVQHJRSRGU]XWX<br />
'RVNRQDOLP\RGELFLDSLáNLNLMHP<br />
EDVHEDOORZ\P] ZáDVQHJRSRGU]XWXLXF]\P\<br />
VL FKZ\WXZUNDZLF<br />
3R]QDMHP\]DVDG\JU\ZNZDGUDQW<br />
8F]\P\VL REVáXJLPDV]\QWUHQLQJRZ\FKQD<br />
VLáRZQLLZáDFLZHJRLFKZ\NRU]\VWDQLD<br />
3R]QDMHP\]DVDG\DVHNXUDFMLLSRPRF\SU]\<br />
Z\NRQ\ZDQLXüZLF]H QDVLáRZQL<br />
8F]\P\VL ]DVDGVWRVRZDQLDREFL*H L<br />
VSRVREXGR]RZDQLDüZLF]H QDVLáRZQL<br />
3R]QDMHP\QRZHJU\WHUHQRZH± 6]XNDQLH<br />
VNDUEyZ3RGFKRG\<br />
8F]\P\VL HOHPHQWyZJU\]HVSRáRZHMUXJE\±<br />
MDNRJU\UHNUHDF\MQHM<br />
2UJDQL]XMHP\]DMFLDUHNUHDF\MQHZJ<br />
ZáDVQ\FKSRP\VáyZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDRGELFLDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDRGELFLDLFKZ\W\<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
8F]HVWQLF]\ZJU]H<br />
=QD]DVDG\REVáXJLPDV]\QZ\NRQD<br />
SRSRZWyU]HQDND*GHMVWDFMLEH]<br />
REFL*H<br />
=QD]DVDG\DVHNXUDFMLLSRPRF\<br />
SRGF]DVüZLF]H<br />
=QD]DVDG\VWRVRZDQLDLGR]RZDQLD<br />
üZLF]H<br />
8F]HVWQLF]\ZJU]H<br />
8F]HVWQLF]\ZJU]H<br />
3UDZLGáRZRZ\NRQDRGELFLD<br />
6ZRERGQLHZ\NRQDRGELFLDZRNUHORQH<br />
PLHMVFH<br />
3RGHMPLHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
=QD]DVDG\REVáXJLPDV]\QZ\NRQDSR<br />
SRZWyU]HQDND*GHMVWDFML]<br />
QLHZLHONLPREFL*HQLHP<br />
6WRVXMH]DVDG\DVHNXUDFMLLSRPRF\<br />
=DSURSRQXMHOHNNL]HVWDZüZLF]H<br />
3RGHMPXMHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
3RGHMPXMHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
8F]HVWQLF]\Z]DMFLDFK 3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8QDMOHSLHM<br />
FKZ\WDMFHJRZUNDZLF<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
GODXF]QLDSURSRQXMFHJR<br />
QDMOHSV]\]HVWDZüZLF]H<br />
2FHQ\EGEGODGUX*\Q\<br />
]Z\FLVNLHM<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
OXEEGEZ]DOH*QRFLRG<br />
JU\LIXQNFML8F]QLD
3/$1:
']LDá<br />
SURJ<br />
7HPDW<br />
2UJDQL]XMHP\JU\L]DEDZ\]SRNRQ\ZDQLHP<br />
QDWXUDOQ\FKSU]HV]NyG<br />
3R]QDMHP\0Dá =DEDZ %LHJRZ<br />
*RG]<br />
<br />
<br />
3RGVWDZRZH<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK<br />
:\NRQD]DGDQLDZZROQ\PWHPSLH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3RGHMPLHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
:\NRQD]DGDQLDZGREU\PWHPSLH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8SURSRQXMFHJR<br />
]DEDZ OXEJU<br />
/HNNRDWOHW\ND<br />
2UJDQL]XMHP\PDUV]RELHJLZGRZROQ\P<br />
WHPSLHQDG\VWDQVLHGRP<br />
8F]\P\VL SU]HND]\ZDQLDSDáHF]NL<br />
V]WDIHWRZHMZELHJX<br />
'RVNRQDOLP\SU]HND]\ZDQLHSDáHF]NL<br />
V]WDIHWRZHMZELHJX<br />
'RVNRQDOLP\WHFKQLN VNRNXZ]Z\* WHFKQLN<br />
IORS<br />
'RVNRQDOLP\RGELFLDMHGQRQy* LOGRZDQLH<br />
REXQy* GRVNRNXZGDO<br />
3R]QDMHP\WHFKQLNLVNRNXZGDO± QDWXUDOQ L<br />
ELHJRZD<br />
6SUDZG]DP\XPLHMWQRü± VNRNZGDO<br />
WHFKQLN QDWXUDOQ LELHJRZ<br />
3R]QDMHP\]DVDG\RUJDQL]DFMLNODVRZ\FK<br />
]DZRGyZOHNNRDWOHW\F]Q\FK<br />
2UJDQL]XMHP\NODVRZH]DZRG\OHNNRDWOHW\F]QH<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
]ZLQQRFLSUyED VLá\55<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
V]\ENRFLSUyEDVLá\PPEU]XFKD<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR±<br />
NRQG\F\MQHZUDPDFK.6)8± SUyEDPRF\<br />
SUyEDZ\WU]\PDáRFL<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
:\NRQDPDUV]RELHJZZROQ\P<br />
WHPSLH<br />
3RSUDZQLHZ\NRQDSU]HND]DQLH<br />
SDáHF]NL<br />
:\NRQDSU]HND]DQLHSDáHF]NLZ<br />
ZROQ\PWHPSLH<br />
:\NRQDRGELFLHLVNRNWHFKQLND<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDRGELFLH L<br />
OGRZDQLH<br />
3RSUDZQLHZ\NRQDVNRNZGDO<br />
WHFKQLNDZ\PDJDNRUHNW\QOD<br />
:\NRQDVNRN]PD[]DDQJD*RZDQLHP<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\NRQDSUyE\]PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\NRQDSUyE\]PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\NRQDSUyE\]PDNV\PDOQ\P<br />
]DDQJD*RZDQLHP<br />
:\NRQDPDUV]RELHJZGREU\PWHPSLH<br />
6ZRERGQLHZ\NRQDSU]HND]\ZDQLH<br />
SDáHF]NL<br />
:\NRQDSU]HND]DQLHSDáHF]NLZV]\ENLP<br />
ELHJX<br />
6ZRERGQLHZ\NRQDVNRN]SRNRQDQLHP<br />
RGSRZLHGQLHMZ\VRNRFL<br />
'RNáDGQLHLVZRERGQLHZ\NRQDRGELFLHL<br />
OGRZDQLH<br />
6DPRG]LHOQLHLGREU]HZ\NRQDVNRNZGDO<br />
:\NRQDVNRNZáDFLZ WHFKQLN<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
GODZV]\VWNLFKNWyU]\<br />
GRELHJOLEH]]DWU]\PDQLD<br />
GODSDU\Z\NRQXMFHM<br />
QDMV]\EFLHM]DGDQLH<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
2FHQD]DGRNáDGQRü<br />
WHFKQLF]Q VNRNX<br />
GODVG]LyZ<br />
ÄEGE´GOD]Z\FL]FyZ<br />
GODVG]LyZ<br />
ÄEGE´GOD]Z\FL]FyZ<br />
2FHQ\ ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
‹E\:RMWHN8ODWRZVNL<br />
ZZZZ\FKRZDQLHIL]\F]QHSO<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
:\NRQXMHP\üZLF]HQLDNV]WDáWXMFHUDPLRQ<br />
QyJWXáRZLDJáRZ\<br />
'RVNRQDOLP\VWDQLHQDUNDFKSU]\GUDELQFH<br />
'RVNRQDOLP\SU]HU]XWERNLHP<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
NV]WDáWXMFH<br />
3RSUDZQLHZ\NRQDVWDQLHQDUNDFK<br />
SU]\GUDELQFH]SRPRF<br />
3RSUDZQLHZ\NRQDSU]HU]XWERNLHP]<br />
SRPRF<br />
=DSURSRQXMHLZ\NRQDüZLF]HQLD<br />
SU]\JRWRZXMFHGRZ\VLáNXIL]\F]QHJR<br />
'RNáDGQLHLVZRERGQLHZ\NRQDVWDQLHQD<br />
UNDFKSU]\GUDELQFHEH]SRPRF\<br />
'RNáDGQLHLVDPRG]LHOQLHZ\NRQD<br />
SU]HU]XWERNLHP<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
8F]\P\VL VNRNXNXF]QHJRSU]H]VNU]\QL<br />
F]FL<br />
'RVNRQDOLP\VNRNNXF]Q\SU]H]VNU]\QL<br />
F]FL<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDVNRNX<br />
NXF]QHJRSU]H]VNU]\QL F]FL<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRVNRNX<br />
:\NRQDVNRN]SRPRF QDXF]\FLHOD<br />
:\NRQDVDPRG]LHOQLHVNRNSR<br />
NRUHNFLHSU]H]QDXF]\FLHOD<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRVNRNX<br />
'RNáDGQLHZ\NRQDVNRNEH]GRGDWNRZHM<br />
SRPRF\<br />
6DPRG]LHOQLHLGRNáDGQLHZ\NRQDVNRN<br />
SU]H]VNU]\QL<br />
GOD8SRWUDILFHJRSRND]Dü<br />
VSRVRE\DVHNXUDFML<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
8F]\P\VL VWDQLDQDJáRZLH<br />
'RVNRQDOLP\VWDQLHQDJáRZLH]Uy*Q\FK<br />
SR]\FMLZ\MFLRZ\FK<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDVWDQLDQD<br />
JáRZLH<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRVWDQLDQDJáRZLH<br />
:\NRQDVWDQLHQDJáRZLH]Uy*Q\FK<br />
SR]\FMLZ\MFLRZ\FK]SRPRF<br />
6DPRG]LHOQLHZ\NRQDVWDQLHQD<br />
JáRZLH]GRZROQHMSR]\FMLZ\MFLRZHM<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRVWDQLDQDJáRZLH<br />
6DPRG]LHOQLHZ\NRQDVWDQLHQDJáRZLH]<br />
GRZROQHMSR]\FMLZ\MFLRZHM<br />
6DPRG]LHOQLHZ\NRQDVWDQLHQDJáRZLH]<br />
Uy*Q\FKSR]\FMLZ\MFLRZ\FK<br />
GOD8QDMOHSLHM<br />
Z\NRQXMFHJRDVHNXUDFM<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
'RVNRQDOLP\SU]HZUyWZW\áRQRJDFK<br />
SURVW\FK<br />
'RVNRQDOLP\SU]HZUyWZSU]yG]QDVNRNX<br />
ORWQHJR<br />
'RVNRQDOLP\SU]HZUyWZSU]yGORWQ\<br />
<br />
<br />
<br />
:\NRQDSU]HZUyW]EáGDPL<br />
WHFKQLF]Q\PL<br />
:\NRQDSU]HZUyW]EáGDPL<br />
WHFKQLF]Q\PL<br />
:\NRQDSU]HZUyW]SRPRF<br />
QDXF]\FLHOD<br />
'RNáDGQLHWHFKQLF]QLHZ\NRQDSU]HZUyW<br />
'RNáDGQLHWHFKQLF]QLHZ\NRQDSU]HZUyW<br />
6ZRERGQLHLVDPRG]LHOQLHZ\NRQD<br />
SU]HZUyW<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
GOD8QDMEDUG]LHM<br />
]DDQJD*RZDQHJRZOHNFM<br />
*LPQDVW\NDSRGVWDZRZD<br />
3R]QDMHP\]DVDG\WZRU]HQLDSLUDPLG<br />
JLPQDVW\F]Q\FKRVRERZ\FK<br />
'RVNRQDOLP\SLUDPLG\JLPQDVW\F]QH<br />
RVRERZH<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLDSLUDPLG<br />
JLPQDVW\F]Q\FKRVRERZ\FK<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSLUDPLG<br />
&]\QQLHXF]HVWQLF]\ZWZRU]HQLX<br />
SLUDPLGGZyMNRZ\FK<br />
3RSUDZQLHZ\NRQDSLUDPLG<br />
GZyMNRZ<br />
6ZRERGQLHZ\NRQDüZLF]HQLD<br />
SU]\JRWRZDZF]HGRSLUDPLG<br />
&]\QQLHXF]HVWQLF]\ZWZRU]HQLXSLUDPLG<br />
GZyMNRZ\FKWUyMNRZ\FKLF]ZyUNRZ\FK<br />
3RSUDZQLHZ\NRQDSLUDPLG F]ZyUNRZ<br />
GOD8SRWUDILFHJRSRND]Dü<br />
VSRVRE\DVHNXUDFML<br />
2FHQDVWRSQLHP]D<br />
GRNáDGQRüLHVWHW\N UXFKX<br />
8:$*,25($/,=$&-,
‹E\:RMWHN8ODWRZVNL<br />
ZZZZ\FKRZDQLHIL]\F]QHSO<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
.V]WDáWXMHP\JLENRüLNRRUG\QDFM UXFKXZ<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP<br />
SRODGNRZ\FKZüZLF]HQLDFKSU]\PX]\FH<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
$HURELN<br />
G]LHZF]WD<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP55Z<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PPEU]XFKD<br />
ZüZLF]HQLDFKSU]\PX]\FH<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLSUDZ LOHZ<br />
QRJD]H]PLDQ NLHUXQNX<br />
'RVNRQDOLP\XGHU]DQLHLSU]\MFLHSLáNLSUDZ<br />
LOHZ QRJ<br />
'RVNRQDOLP\SU]\MFLHLSURZDG]HQLHSLáNL<br />
]DNRF]RQHVWU]DáHPQDEUDPN ]G\VWDQVX<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDSURZDG]HQLHSLáNL<br />
3RSUDZQLHZ\NRQDXGHU]HQLHL<br />
SU]\MFLHSLáNL<br />
:\NRQDSU]\MFLHSURZDG]HQLHSLáNLL<br />
VWU]DáWHFKQLNDZ\PDJDNRUHNW\QOD<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SURZDG]HQLHPSLáNL<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SU]\MFLHPLXGHU]HQLHP<br />
6ZRERGQLHZ\NRQDZV]\VWNLHHOHPHQW\<br />
WHFKQLF]QH<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHJR<br />
QDMWUXGQLHMV]HüZLF]<br />
3LáNDQR*QD<br />
FKáRSF\<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHPLQL31<br />
JHWEROJUDZáDFLZD<br />
<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
5\WP<br />
0X]\ND<br />
7DQLHF<br />
8F]\P\VL ZJLHUVNLHJRWDFDOXGRZHJR<br />
Ä']LHZF]F\NUJ´<br />
8F]\P\VL NURNXSRGVWDZRZHJRWDFD<br />
OXGRZHJRSRONL<br />
'RVNRQDOLP\NURNSRGVWDZRZ\SRONL<br />
<br />
<br />
<br />
8F]HVWQLF]\ZWDFDFK<br />
8F]HVWQLF]\ZWDFDFK<br />
3RSUDZQLHZ\NRQDNURN<br />
3UDZLGáRZRZ\NRQDNURN<br />
3UDZLGáRZRZ\NRQDNURN<br />
6ZRERGQLHáF]\HOHPHQW\WDFD<br />
GOD8QDMOHSLHMWDF]FHJR<br />
8:$*,25($/,=$&-,
']LDá<br />
SURJ<br />
3LáNDVLDWNRZD<br />
7HPDW<br />
3R]QDMHP\JU\L]DEDZ\ZQLVNLFKSR]\FMDFK<br />
Z\MFLRZ\FK<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPJyUQ\PL<br />
GROQ\PQDGVRE<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPJyUQ\P<br />
QDGVRE LZSDUDFK<br />
8F]\P\VL ]DJU\ZNLVSRVREHPJyUQ\P<br />
'RVNRQDOLP\]DJU\ZN VSRVREHPJyUQ\P<br />
6SUDZG]DP\XPLHMWQRüZ\NRQDQLD]DJU\ZNL<br />
VSRVREHPJyUQ\P<br />
8F]\P\VL SU]\MFLD]DJU\ZNLLUR]HJUDQLD<br />
SLáNLZW\áLSU]yG<br />
'RVNRQDOLP\SU]\MFLHSLáNLLUR]HJUDQLHZW\á<br />
LSU]yG<br />
8F]\P\VL ]DVWDZLHQLDSLáNL<br />
'RVNRQDOLP\JU QDVLDWFHNLZQLFLDLSODV\<br />
'RVNRQDOLP\JU SLáN QDVLDWFHZIRUPLH<br />
Ä]ELFLD´<br />
'RVNRQDOLP\HOHPHQW\WHFKQLNLZPDá\FK<br />
JUDFKGZyMNLWUyMNL<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK<br />
3RSUDZQLHZ\NRQDRGELFLDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDRGELFLDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQD]DJU\ZNEUDN<br />
NRRUG\QDFMLFDáHJRFLDáD<br />
3RSUDZQLHZ\NRQD]DJU\ZN JyUQ<br />
Z\PDJDNRUHNW\QOD<br />
:\NRQD]DJU\ZN ]QLHZLHONLPL<br />
EáGDPLWHFKQLF]Q\PL<br />
:\NRQDSU]\MFLDSLáNL<br />
3U]\MPLHSRSUDZQLHSLáN ]QD<br />
XVWDZLHQLDZSU]\MFLXSLáNL<br />
=QD]DVDG\]DVWDZLHQLDSLáNL<br />
6WDUDVL QDGDüORWSLáNLZRNUHORQ\P<br />
NLHUXQNXNLZDMFSODVXMF<br />
3RSUDZQLHZ\NRQDGRMFLHGRDWDNXL<br />
]ELMDSLáN QDSROHSU]HFLZQLND<br />
6WDUDVL VWRVRZDüHOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZ JU]H<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6ZRERGQLHZ\NRQDRGELFLDVSRVREHP<br />
GROQ\PLJyUQ\P<br />
6ZRERGQLHZ\NRQDRGELFLDVSRVREHP<br />
JyUQ\PLGROQ\P<br />
'REU]HWHFKQLF]QLHZ\NRQD]DJU\ZN<br />
'RNáDGQLHLSHZQLHZ\NRQD]DJU\ZN<br />
SU]H]VLDWN<br />
:\NRQD]DJU\ZN EDUG]RSHZQLHL<br />
GREU]HWHFKQLF]QLH<br />
6ZRERGQLHSU]\MPLH]DJU\ZN LUR]HJUD<br />
SLáN<br />
6ZRERGQLHSU]\MPLHSLáNGRNáDGQLH<br />
UR]HJUDZW\áLSU]yG<br />
6NXWHF]QLH]DVWDZLSLáN<br />
.LHUXMHSLáN ZRNUHORQHPLHMVFDZ<br />
F]DVLHJU\<br />
=QDSRSUDZQ IRUP ]ELFLDSLáNLLVWRVXMH<br />
M ZJU]H<br />
6WRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QHL<br />
WDNW\F]QHZJU]H<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSU]DEDZ ]ZLQQRFLRZ<br />
2FHQD]DSRSUDZQRü<br />
WHFKQLF]Q<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]LJU ELH*Q<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
7HUP<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJ<br />
3LáNDNRV]\NRZD<br />
7HPDW<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLZL<br />
]DNRF]RQHU]XWHPGRNRV]D<br />
'RVNRQDOLP\ ]DWU]\PDQLH QD L <br />
WHPSD]DNRF]RQHU]XWHP<br />
'RVNRQDOLP\WDNW\N SU]HSURZDG]DQLD<br />
V]\ENLHJRDWDNX<br />
8F]\P\VL U]XWXGRNRV]D]GZXWDNWXSR<br />
NR]áRZDQLXLSRELHJX<br />
'RVNRQDOLP\U]XWGRNRV]D]GZXWDNWXSR<br />
NR]áRZDQLXLSRELHJX<br />
6SUDZG]DP\XPLHMWQRFLZ\NRQDQLD<br />
GZXWDNWXSRNR]áRZDQLXLSRELHJX<br />
8F]\P\VL HOHPHQWyZWDNW\NLGZyMNRZHM±<br />
]DVáRQDFLFLHRPLQLFLH<br />
'RVNRQDOLP\HOHPHQW\WDNW\NLGZyMNRZHM±<br />
]DVáRQDFLFLHRPLQLFLH<br />
'RVNRQDOLP\SR]QDQHHOHPHQW\DWDNXWDNW\NL<br />
GZyMNRZHMZJU]HV]NROQHM<br />
3R]QDMHP\]DVDG\ UR]JU\ZDQLDDWDNX<br />
SR]\F\MQHJRÄGX*DyVHPND´<br />
'RVNRQDOLP\SR]QDQHHOHPHQW\DWDNX<br />
SR]\F\MQHJRZJU]HV]NROQHM<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3URZDG]LSLáN ZLZZROQ\P<br />
WHPSLH<br />
:\NRQD]DWU]\PDQLDQDLWHPSD<br />
SRNRUHNFLHQDXF]\FLHOD<br />
=QD]DVDG\SU]HSURZDG]HQLD<br />
V]\ENLHJRDWDNX<br />
3RSUDZQLHZ\NRQDGZXWDNW]PDUV]X<br />
3RSUDZQLHZ\NRQDGZXWDNWVáDER<br />
áF]\]U]XWHPGRNRV]D<br />
3RSUDZQLHZ\NRQDGZXWDNWSR<br />
NR]áRZDQLXLSRELHJX<br />
=QDWHFKQLN Z\NRQDQLD]DVáRQ\<br />
FLFLDLRPLQLFLD<br />
3RSUDZQLHZ\NRQD]DVáRQFLFLHL<br />
RPLQLFLHSRNRUHNFLHQDXF]\FLHOD<br />
6WDUDVL VWRVRZDüHOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
=QD]DVDG\UR]JU\ZDQLDDWDNX<br />
SR]\F\MQHJR<br />
3RSUDZQLHZ\NRQD]DGDQLDZDWDNX<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHSURZDG]LSLáN ZL<br />
6ZRERGQLHZ\NRQD]DWU]\PDQLD<br />
6ZRERGQLH]DLQLFMXMHLSU]HSURZDG]L<br />
V]\ENLDWDN<br />
'REU]HZ\NRQDGZXWDNWSRNR]áRZDQLX<br />
SRELHJX<br />
6ZRERGQLHLSHZQLHZ\NRQDGZXWDNW]<br />
U]XWHPGRNRV]D<br />
6ZRERGQLHL GRNáDGQLHZ\NRQDGZXWDNW<br />
SRNR]áRZDQLXLSRELHJXZGREU\P<br />
WHPSLH<br />
6ZRERGQLHZ\NRQD]DVáRQFLFLHL<br />
RPLQLFLH<br />
6DPRG]LHOQLHZ\NRU]\VWXMHSR]QDQH<br />
HOHPHQW\<br />
6WRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QHL<br />
WDNW\F]QHZJU]H<br />
6ZRERGQLHLGRNáDGQLHSRUXV]DVL Z<br />
DWDNX<br />
6ZRERGQLHLGRNáDGQLHSRUXV]DVL Z<br />
DWDNX<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]LJU VNRF]Q<br />
GOD8QDMFHOQLHM<br />
U]XFDMFHJR]GZXWDNWX<br />
2FHQD]DGRNáDGQRüL<br />
VZRERG Z\NRQDQLD<br />
GODXF]QLDQDMGRNáDGQLHM<br />
Z\NRQXMFHJRüZLF]HQLD<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
7HUP<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJ<br />
3LáNDUF]QD<br />
7HPDW<br />
'RVNRQDOLP\NR]áRZDQLHSLáNLSUDZ LOHZ<br />
UN ZPLHMVFXRUD]ZUXFKX<br />
'RVNRQDOLP\SRGDQLDMHGQRUF]SyáJyUQHL<br />
FKZ\W\SLáNLREXUF]ZPLHMVFXLZUXFKX<br />
'RVNRQDOLP\U]XWMHGQRUF]]PLHMVFD<br />
'RVNRQDOLP\SRGDQLDMHGQRUF]SyáJyUQHL<br />
FKZ\W\SLáNLREXUF]ZPLHMVFXLZUXFKX<br />
'RVNRQDOLP\U]XWMHGQRUF]]PLHMVFD]<br />
PDUV]X]WUXFKWXL]ELHJX<br />
'RVNRQDOLP\U]XWGREUDPNLSRQDELHJXZ<br />
U\WPLHWUyMNURNRZ\PSRNR]áRZDQLXLSR<br />
ELHJX<br />
3R]QDMHP\SRMFLHVWUHI\LMHMURG]DMHZSLáFH<br />
UF]QHM<br />
'RVNRQDOLP\SR]QDQH HOHPHQW\REURQ\ZJU]H<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLHZ\NRQDNR]áRZDQLHZ<br />
PLHMVFXLZUXFKX<br />
3RSUDZQLHZ\NRQDSRGDQLDZ<br />
PLHMVFXZUXFKXSRWU]HEQDNRUHNWD<br />
3RSUDZQLHZ\NRQDU]XW\]PLHMVFDSR<br />
NRUHNFLHQDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDSRGDQLDZ<br />
PLHMVFXZUXFKXSRWU]HEQDNRUHNWD<br />
3RSUDZQLHZ\NRQDU]XW\]PLHMVFDZ<br />
UXFKXSRWU]HEQDNRUHNWDQDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDZROQRQDELHJ<br />
SU]\ZLNV]\PWHPSLHSRWU]HEQD<br />
NRUHNWDQDXF]\FLHOD<br />
3RUXV]DVL ZVWUHILHZ\PDJDNRUHNW\<br />
QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQD]DGDQLDREURF\<br />
V]NROQHM<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDZáDFLZD 8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHLGRNáDGQLHZ\NRQD<br />
NR]áRZDQLHZUXFKX<br />
3UDZLGáRZRLVZRERGQLHZ\NRQDSRGDQLD<br />
ZPLHMVFXLZUXFKX<br />
6ZRERGQLHZ\NRQDU]XW\]PLHMVFD<br />
3UDZLGáRZRLVZRERGQLHZ\NRQDSRGDQLD<br />
ZPLHMVFXLZUXFKX<br />
6ZRERGQLHLSUHF\]\MQLHZ\NRQDU]XW\]<br />
PLHMVFDLZUXFKX<br />
6ZRERGQLHLGRNáDGQLHZ\NRQDQDELHJZ<br />
V]\ENLPWHPSLH<br />
3HZQLHSRUXV]DVL ZVWUHILH<br />
6ZRERGQLHLGRNáDGQLHSRUXV]DVL Z<br />
REURQLH<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODQDMOHSV]HJRVWU]HOFD<br />
GODQDMOHSV]HJRVWU]HOFD<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]LJU<br />
Z\WU]\PDáRFLRZ<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
6SRUW\<br />
]LPRZH<br />
:\NRU]\VWXMHP\QLHJSRGF]DVJLHUL]DEDZ<br />
U]XWQ\FK<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK 3URSRQXMHQRZHJU\L]DEDZ\QDQLHJX GOD8NWyU\VDPRG]<br />
SU]HSURZDG]L]DEDZ<br />
VNRF]QRFLRZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJ<br />
8QLKRNHM<br />
7HPDW<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLZRNUHORQ\P<br />
NLHUXQNXLWHPSLH<br />
'RVNRQDOLP\SRGDQLDLSU]\MFLD SLáNLZ<br />
PLHMVFXLZUXFKX<br />
'RVNRQDOLP\UR]JU\ZDQLHSLáNLZ]HVSROH<br />
GZyMNRZ\P<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHSU]HSLV\JUD<br />
V]NROQD<br />
*RG]<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLHZ\NRQDSURZDG]HQLHSLáNL<br />
WHFKQLNDZ\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDSRGDQLDLSU]\MFLD<br />
WHFKQLNDZ\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHUR]HJUDSLáN Z ZROQ\P<br />
WHPSLH<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHZ\NRQDSURZDG]HQLHSLáNL<br />
6ZRERGQLHZ\NRQDSRGDQLDZPLHMVFXL<br />
ZUXFKX<br />
6ZRERGQLHUR]HJUDSLáN ZV]\ENLP<br />
WHPSLH<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8NWyU\VDPRG]LHO<br />
SU]HSUJU ]ZLQQRFLRZ<br />
GODSDU\QDMOHSLHM<br />
UR]JU\ZDMFHMSLáN<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
5HNUHDFMDUXFKRZD<br />
'RVNRQDOLP\RGELFLDSLáNLNLMHP<br />
EDVHEDOORZ\P]QDU]XWXLFKZ\WXZUNDZLF<br />
*UDP\UHNUHDF\MQLH± NZDGUDQW<br />
3R]QDMHP\QRZHJU\± EDVHEDOO<br />
*UDP\UHNUHDF\MQLH± UXJE\<br />
6LáRZQLD± SR]QDMHP\PHWRG VWDF\MQ Z<br />
WUHQLQJXVLáRZ\P<br />
6LáRZQLD± SR]QDMHP\üZLF]HQLDSRSUDZLDMFH<br />
VLá VWDW\F]Q<br />
6LáRZQLD± SR]QDMHP\üZLF]HQLDSRSUDZLDMFH<br />
VLá G\QDPLF]Q<br />
2UJDQL]XMHP\]DMFLDUHNUHDF\MQHZJ<br />
ZáDVQ\FKSRP\VáyZ<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDRGELFLDLFKZ\W\<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
8F]HVWQLF]\ZJU]H<br />
8F]HVWQLF]\ZJU]H<br />
8F]HVWQLF]\ZJU]H<br />
=QD]DVDG\WZRU]HQLDVWDFML<br />
=QD]DVDG\GRERUXüZLF]H<br />
=QD]DVDG\GRERUXüZLF]H<br />
6ZRERGQLHZ\NRQDRGELFLDZRNUHORQH<br />
PLHMVFH<br />
3RGHMPLHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
3RGHMPLHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
3RGHMPXMH SUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
=DSURSRQXMHQRZHVWDFMH<br />
=DSURSRQXMHüZLF]HQLDVLáRZH<br />
=DSURSRQXMHüZLF]HQLDVLáRZH<br />
8F]HVWQLF]\Z]DMFLDFK 3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8QDMOHSLHM<br />
FKZ\WDMFHJRZUNDZLF<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
GODXF]QLDSURSRQXMFHJR<br />
QDMOHSV]\]HVWDZüZLF]H<br />
GODXF]QLDSURSRQXMFHJR<br />
QDMOHSV]\]HVWDZüZLF]H<br />
OXEEGEZ]DOH*QRFLRG<br />
JU\LIXQNFML8F]QLD<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
3/$1:
']LDá<br />
SURJ<br />
/HNNRDWOHW\ND<br />
7HPDW<br />
.V]WDáWXMHP\Z\WU]\PDáRüZ0DáHM=DEDZLH<br />
%LHJRZHM<br />
8F]\P\VL WHFKQLNLSFKQLFLDNXO<br />
'RVNRQDOLP\WHFKQLN SFKQLFLDNXO<br />
'RVNRQDOLP\SU]HND]\ZDQLHSDáHF]NL<br />
V]WDIHWRZHMZELHJX<br />
'RVNRQDOLP\WHFKQLN VNRNXZ]Z\* WHFKQLN<br />
IORS<br />
'RVNRQDOLP\WHFKQLNLVNRNXZGDO± QDWXUDOQ<br />
LELHJRZD<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
:\NRQD]DGDQLDZZROQ\PWHPSLH<br />
:\NRQDZáDFLZHSFKQLFLHNXOL<br />
:\SFKQLHNXO SRGRVNRNXSU]RGHP<br />
:\NRQDSU]HND]DQLHSDáHF]NLZ<br />
ZROQ\PWHPSLH<br />
:\NRQDRGELFLHLVNRNWHFKQLND<br />
Z\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDVNRNZGDO<br />
WHFKQLNDZ\PDJDNRUHNW\QOD<br />
2UJDQL]XMHP\NODVRZH]DZRG\OHNNRDWOHW\F]QH 8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR± :\NRQDSUyE\]PDNV\PDOQ\P<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
]DDQJD*RZDQLHP<br />
]ZLQQRFLSUyEDVLá\55<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR± :\NRQDSUyE\]PDNV\PDOQ\P<br />
NRQG\F\MQHZUDPDFK.6)8± SUyED<br />
]DDQJD*RZDQLHP<br />
V]\ENRFLSUyEDVLá\PPEU]XFKD<br />
6SUDZG]DP\VZRMH]GROQRFLNRRUG\QDF\MQR± :\NRQDSUyE\]PDNV\PDOQ\P<br />
NRQG\F\MQHZUDPDFK.6)8± SUyEDPRF\ ]DDQJD*RZDQLHP<br />
SUyEDZ\WU]\PDáRFL<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
:\NRQD]DGDQLDZGREU\PWHPSLH<br />
:\SFKQLHNXO SRGRVNRNXSU]RGHP<br />
3RSUDZQLHZ\NRQDSFKQLFLHNXO SR<br />
GRVNRNXW\áHP<br />
:\NRQDSU]HND]DQLHSDáHF]NLZV]\ENLP<br />
ELHJX<br />
6ZRERGQLHZ\NRQDVNRN]SRNRQDQLHP<br />
RGSRZLHGQLHMZ\VRNRFL<br />
:\NRQDVNRNZáDFLZ WHFKQLN<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
:\NRQDSUyE\]EDUG]RGREU\P<br />
Z\QLNLHPSXQNWRZ\P<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODSDU\Z\NRQXMFHM<br />
QDMV]\EFLHM]DGDQLH<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODVG]LyZ<br />
ÄEGE´GOD]Z\FL]FyZ<br />
2FHQ\ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
2FHQ\ZJSXQNWDFML.6)8<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJ<br />
5\WP<br />
0X]\ND<br />
7DQLHF<br />
7HPDW<br />
8F]\P\VL NURNXSRGVWDZRZHJRSROVNLHJR<br />
WDFDOXGRZHJR SRORQH]D<br />
'RVNRQDOLP\NURNSRGVWDZRZ\SROVNLHJR<br />
WDFDOXGRZHJR SRORQH]D<br />
7ZRU]\P\NRURZyGLILJXU\ZRSDUFLXRNURN<br />
SRORQH]D<br />
8:$*,25($/,=$&-,<br />
*RG]<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
:\NRQDNURNSRGVWDZRZ\<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3UDZLGáRZRZ\NRQDNURN<br />
8F]HVWQLF]\ZWDFDFK<br />
6ZRERGQLHZ\NRQDNURN<br />
8F]HVWQLF]\ZWDFDFK<br />
6ZRERGQLHSRáF]\HOHPHQW\WDFD<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]\NRURZyG<br />
7HUP<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
‹E\:RMWHN8ODWRZVNL<br />
ZZZZ\FKRZDQLHIL]\F]QHSO<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
'RVNRQDOLP\SR]QDQHSU]HZURW\ZSU]yGLZ<br />
W\á]Uy*Q\FKSR]\FMLZ\MFLRZ\FK<br />
'RVNRQDOLP\VWDQLHQDUNDFKSU]\GUDELQFH<br />
SU]HU]XWERNLHPLVWDQLHQDJáRZLH<br />
'RVNRQDOLP\SR]QDQHVNRNLSU]H]VNU]\QL<br />
]DZURWQ\NXF]Q\<br />
<br />
<br />
<br />
:\NRQDSU]HZURW\]QLHZLHONLPL<br />
EáGDPLWHFKQLF]Q\PL<br />
3RSUDZQLHZ\NRQDVWDQLHQDUNDFK<br />
SU]HU]XWERNLHPLVWDQLHQDJáRZLH]<br />
SRPRF<br />
:\NRQDVNRNL]QLHZLHONLPLEáGDPL<br />
WHFKQLF]Q\PL<br />
6ZRERGQLHLVDPRG]LHOQLHZ\NRQD<br />
SU]HZURW\<br />
6DPRG]LHOQLHZ\NRQDVWDQLHQDUNDFKL<br />
SU]HU]XWERNLHP<br />
6ZRERGQLHLVDPRG]LHOQLHZ\NRQDVNRNL<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8QDMOHSLHM<br />
Z\NRQXMFHJRDVHNXUDFM<br />
*LPQDVW\NDSRGVWDZRZD<br />
8F]\P\VL Z\P\NXJLPQDVW\F]QHJR<br />
'RVNRQDOLP\Z\P\NJLPQDVW\F]Q\<br />
3R]QDMHP\]DVDG\RUJDQL]DFMLNODVRZ\FK<br />
]DZRGyZJLPQDVW\F]Q\FK<br />
<br />
<br />
<br />
:\NRQDüZLF]HQLDSU]\JRWRZDZF]H<br />
GRZ\P\NX<br />
:\NRQDZ\P\NJLPQDVW\F]Q\]<br />
SRPRF<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\NRQDZ\P\NJLPQDVW\F]Q\]SRPRF<br />
6DPRG]LHOQLHZ\NRQDZ\P\N<br />
JLPQDVW\F]Q\<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
GODVG]LyZ<br />
ÄEGE´GOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
:\PDJDQLDSURJUDPRZH<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
.V]WDáWXMHP\JLENRüLNRRUG\QDFM UXFKXZ<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP<br />
SRODGNRZ\FKZüZLF]HQLDFKSU]\PX]\FH<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
$HURELN<br />
G]LHZF]WD<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PP55Z<br />
üZLF]HQLDFKSU]\PX]\FH<br />
.V]WDáWXMHP\Z\WU]\PDáRüLVLá PPEU]XFKD<br />
ZüZLF]HQLDFKSU]\PX]\FH<br />
<br />
<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
3RSUDZQLHZ\NRQDüZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
6DPRG]LHOQLH]DSURSRQXMHQRZH<br />
üZLF]HQLD<br />
GOD8SURSRQXMFHM<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHM<br />
QDMWUXGQLHMV]HüZLF]HQLH<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLSUDZ LOHZ<br />
QRJD]H]PLDQ NLHUXQNX<br />
'RVNRQDOLP\XGHU]DQLHLSU]\MFLHSLáNLSUDZ<br />
LOHZ QRJ<br />
'RVNRQDOLP\SU]\MFLHLSURZDG]HQLHSLáNL<br />
]DNRF]RQHVWU]DáHPQDEUDPN ]G\VWDQVX<br />
<br />
<br />
<br />
3RSUDZQLHZ\NRQDSURZDG]HQLHSLáNL<br />
3RSUDZQLHZ\NRQDXGHU]HQLHL<br />
SU]\MFLHSLáNL<br />
:\NRQDSU]\MFLHSURZDG]HQLHSLáNLL<br />
VWU]DáWHFKQLNDZ\PDJDNRUHNW\QOD<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SURZDG]HQLHPSLáNL<br />
6DPRG]LHOQLHSURSRQXMHQRZHüZ]<br />
SU]\MFLHPLXGHU]HQLHP<br />
6ZRERGQLHZ\NRQDZV]\VWNLHHOHPHQW\<br />
WHFKQLF]QH<br />
GOD8SURSRQXMFHJR<br />
QDMFLHNDZV]HüZLF]HQLH<br />
GOD8SURSRQXMFHJR<br />
QDMWUXGQLHMV]HüZLF]<br />
3LáNDQR*QD<br />
FKáRSF\<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHPLQL31<br />
JHWEROJUDZáDFLZD<br />
<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,
']LDá<br />
SURJ<br />
3LáNDVLDWNRZD<br />
7HPDW<br />
'RVNRQDOLP\RGELFLDSLáNLVSRVREHPJyUQ\P<br />
QDGVRE LZSDUDFK<br />
'RVNRQDOLP\]DJU\ZN VSRVREHPJyUQ\P<br />
ÄNLHURZDQ´<br />
'RVNRQDOLP\SU]\MFLHSLáNLLUR]HJUDQLHZW\á<br />
LSU]yG<br />
'RVNRQDOLP\]DVWDZLHQLHSRMHG\QF]HLZ<br />
GZyMNDFK<br />
'RVNRQDOLP\JU QDVLDWFHNLZQLFLDLSODV\<br />
'RVNRQDOLP\JU SLáN QDVLDWFHZIRUPLH<br />
Ä]ELFLD´<br />
'RVNRQDOLP\HOHPHQW\WHFKQLNLZJU]H<br />
ZáDFLZHM<br />
6SUDZG]DP\XPLHMWQRFL]]DNUHVXSLáNL<br />
VLDWNRZHMZJU]HZáDFLZHM<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUD ZáDFLZD<br />
8:$*,25($/,=$&-,<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLHZ\NRQDRGELFLDZ\PDJD<br />
NRUHNW\QDXF]\FLHOD<br />
=DJUDSRSUDZQLHSLáN QDVWURQ<br />
SU]HFLZQLNDZRGSRZLHGQLPNLHUXQNX<br />
3U]\MPLHSRSUDZQLHSLáN ]QD<br />
XVWDZLHQLDZSU]\MFLXSLáNL<br />
=QD]DVDG\]DVWDZLHQLDSRMHG\QF]HJR<br />
LZGZyMNDFK<br />
6WDUDVL QDGDüORWSLáNLZRNUHORQ\P<br />
NLHUXQNXNLZDMFSODVXMF<br />
3RSUDZQLHZ\NRQDGRMFLHGRDWDNXL<br />
]ELMDSLáN QDSROHSU]HFLZQLND<br />
6WDUD VL<br />
:\PDJDQLDSURJUDPRZH<br />
VWRVRZDü HOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
3UyEXMHVWRVRZDüSR]QDQHHOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHZ\NRQDRGELFLDVSRVREHP<br />
JyUQ\PLGROQ\P<br />
.LHUXMH]DJU\ZN ZRNUHORQHPLHMVFDZ<br />
F]DVLHJU\<br />
6ZRERGQLHSU]\MPLHSLáNGRNáDGQLH<br />
UR]HJUDZW\áLSU]yG<br />
6NXWHF]QLH]DVWDZLSRMHG\QF]RLZ<br />
GZyMNDFK<br />
.LHUXMHSLáN ZRNUHORQHPLHMVFDZ<br />
F]DVLHJU\<br />
=QDSRSUDZQ IRUP ]ELFLDSLáNLLVWRVXMH<br />
M ZJU]H<br />
6WRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QHL<br />
WDNW\F]QHZJU]H<br />
=DVWRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QH<br />
LWDNW\F]QHZJU]H<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSU]DEDZ ]ZLQQRFLRZ<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
2FHQD]DSRSUDZQRü<br />
WHFKQLF]Q LZáDFLZH<br />
]DVWRVRZDQLHZJU]H<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
']LDá<br />
SURJ<br />
8QLKRNHM<br />
7HPDW<br />
'RVNRQDOLP\SURZDG]HQLHSLáNLZRNUHORQ\P<br />
NLHUXQNXLWHPSLH<br />
'RVNRQDOLP\SRGDQLDLSU]\MFLDSLáNLZ<br />
PLHMVFXLZUXFKX<br />
'RVNRQDOLP\UR]JU\ZDQLHSLáNLZ]HVSROH<br />
WUyMNRZ\P<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHSU]HSLV\JUD<br />
V]NROQD<br />
8:$*,25($/,=$&-,<br />
*RG]<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLHZ\NRQDSURZDG]HQLHSLáNL<br />
WHFKQLNDZ\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDSRGDQLDLSU]\MFLD<br />
WHFKQLNDZ\PDJDNRUHNW\QDXF]\FLHOD<br />
3RSUDZQLHUR]HJUDSLáN ZZROQ\P<br />
WHPSLH<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHZ\NRQDSURZDG]HQLHSLáNL<br />
6ZRERGQLHZ\NRQDSRGDQLDZPLHMVFXL<br />
ZUXFKX<br />
6ZRERGQLHUR]HJUDSLáN Z V]\ENLP<br />
WHPSLH<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
GOD8NWyU\VDPRG]LHO<br />
SU]HSUJU V]\ENRFLRZ<br />
GODSDU\QDMOHSLHM<br />
UR]JU\ZDMFHMSLáN<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
7HUP<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJ<br />
3LáNDNRV]\NRZD<br />
7HPDW<br />
'RVNRQDOLP\SRUXV]DQLHVL SRERLVNXZ<br />
REURQLHLZDWDNX<br />
'RVNRQDOLP\NR]áRZDQLHSLáNLZGRZROQ\P<br />
WHPSLHLNLHUXQNXSUDZ LOHZ UN<br />
'RVNRQDOLP\U]XWGRNRV]D]GZXWDNWXSR<br />
NR]áRZDQLXLSRELHJX<br />
8F]\P\VL WDNW\NLUR]HJUDQLDSU]HZDJL[L<br />
[<br />
'RVNRQDOLP\WDNW\N UR]HJUDQLDSU]HZDJL[<br />
L[<br />
2UJDQL]XMHP\WXUQLHMFHOQRFLU]XWyZ<br />
RVRELVW\FKL]SyáG\VWDQVX<br />
'RVNRQDOLP\HOHPHQW\WHFKQLNLZJU]H<br />
ZáDFLZHM<br />
6SUDZG]DP\XPLHMWQRFL]]DNUHVX<br />
NRV]\NyZNLZJU]HZáDFLZHM<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLHSRUXV]DVL SRNRUHNFLH<br />
QDXF]\FLHOD<br />
3RSUDZQLHZ\NRQDNR]áRZDQLHZ<br />
ZROQ\PWHPSLH<br />
3RSUDZQLHZ\NRQDGZXWDNW<br />
=QD]DVDG\UR]JU\ZDQLDV\WXDFML<br />
SU]HZDJL<br />
3RSUDZQLHZ\NRQD]DGDQLDWDNW\F]QH<br />
3RSUDZQLHWHFKQLF]QLHZ\NRQDVHULH<br />
U]XWyZGRNRV]D<br />
6WDUD VL<br />
:\PDJDQLDSURJUDPRZH<br />
VWRVRZDü HOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
3UyEXMHVWRVRZDüSR]QDQHHOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHLGRNáDGQLHSRUXV]DVL SR<br />
ERLVNX<br />
6ZRERGQLHZ\NRQDNR]áRZDQLHZ<br />
V]\ENLPWHPSLH<br />
6ZRERGQLHLSHZQLHZ\NRQDGZXWDNW]<br />
U]XWHPGRNRV]D<br />
3RSUDZQLHZ\NRQD]DGDQLDWDNW\F]QH<br />
6DPRG]LHOQLHZ\NRU]\VWXMHSR]QDQH<br />
HOHPHQW\<br />
:\NRQDVHULHSRSUDZQ\FKWHFKQLF]QLHL<br />
FHOQ\FKU]XWyZGRNRV]D<br />
6WRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QHL<br />
WDNW\F]QHZJU]H<br />
=DVWRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QH<br />
LWDNW\F]QHZJU]H<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GODQDMEDUG]LHM<br />
]DDQJD*RZDQ\FKZOHNFML<br />
GOD8NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]LJU ELHJRZ<br />
GODXF]QLyZQDMOHSLHM<br />
UR]JU\ZDMF\FKSU]HZDJ<br />
2FHQD]DSRSUDZQRü<br />
WHFKQLF]Q LZáDFLZH<br />
]DVWRVRZDQLHZJU]H<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJU<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
6SRUW\<br />
]LPRZH<br />
:\NRU]\VWXMHP\QLHJSRGF]DVJLHUL]DEDZ<br />
U]XWQ\FK<br />
8F]HVWQLF]\ZJUDFKL]DEDZDFK 3URSRQXMHQRZHJU\L]DEDZ\QDQLHJX GOD8NWyU\VDPRG]<br />
SU]HSURZDG]L]DEDZ<br />
VNRF]QRFLRZ<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
']LDá<br />
SURJ<br />
3LáNDUF]QD<br />
7HPDW<br />
'RVNRQDOLP\SRGDQLDMHGQRUF]LFKZ\W\SLáNL<br />
RUD]NR]áRZDQLH<br />
'RVNRQDOLP\U]XWGREUDPNLSRQDELHJXZ<br />
U\WPLHWUyMNURNRZ\P<br />
'RVNRQDOLP\REURQ VWUHIRZ<br />
'RVNRQDOLP\HOHPHQW\WHFKQLNLZJU]H<br />
ZáDFLZHM<br />
6SUDZG]DP\XPLHMWQRFL]]DNUHVXSLáNL<br />
UF]QHMZJU]HZáDFLZHM<br />
2UJDQL]XMHP\WXUQLHMHNODVRZHJUDV]NROQD<br />
JUDZáDFLZD<br />
*RG]<br />
<br />
<br />
<br />
<br />
<br />
<br />
3RGVWDZRZH<br />
3RSUDZQLH Z\NRQDSRGDQLDL<br />
NR]áRZDQLH<br />
3RSUDZQLHZ\NRQDQDELHJZZROQ\P<br />
WHPSLH<br />
3RUXV]DVL ZVWUHILH<br />
6WDUD VL<br />
:\PDJDQLDSURJUDPRZH<br />
VWRVRZDü HOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
3UyEXMHVWRVRZDüSR]QDQHHOHPHQW\<br />
WHFKQLF]QHLWDNW\F]QHZJU]H<br />
8F]HVWQLF]\Z]DZRGDFKZ<br />
SRMHG\QF]\FKURODFK<br />
3RQDGSRGVWDZRZH<br />
6ZRERGQLHZ\NRQDSRGDQLDFKZ\W\L<br />
NR]áRZDQLH<br />
6ZRERGQLHLGRNáDGQLHZ\NRQDQDELHJZ<br />
V]\ENLPWHPSLH<br />
3HZQLHSRUXV]DVL ZVWUHILH<br />
ZVSyáSUDFXMH]SDUWQHUHP<br />
6WRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QHL<br />
WDNW\F]QHZJU]H<br />
=DVWRVXMHSRSUDZQLHHOHPHQW\WHFKQLF]QH<br />
LWDNW\F]QHZJU]H<br />
3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
‹E\:RMWHN8ODWRZVNL<br />
3ODQRZDQH 7HUP<br />
VSUDZG]LDQ\<br />
GOD8 NWyU\VDPRG]LHOQLH<br />
SU]HSURZDG]LJU U]XWQ<br />
GOD8NRU\JXMFHJREáG\<br />
SDUWQHUD<br />
2FHQD]DSRSUDZQRü<br />
WHFKQLF]Q LZáDFLZH<br />
]DVWRVRZDQLHZJU]H<br />
GODVG]LyZ<br />
EGEGOD]Z\FL]FyZ<br />
8:$*,25($/,=$&-,<br />
']LDá<br />
SURJ<br />
7HPDW<br />
*RG]<br />
3RGVWDZRZH<br />
:\PDJDQLDSURJUDPRZH<br />
3RQDGSRGVWDZRZH<br />
3ODQRZDQH<br />
VSUDZG]LDQ\<br />
7HUP<br />
5HNUHDFMDUXFKRZD<br />
*UDP\UHNUHDF\MQLH± EDVHEDOO<br />
*UDP\UHNUHDF\MQLH± UXJE\<br />
6LáRZQLD± Z\NRQXMHP\üZLF]HQLD<br />
SRSUDZLDMFHVLá VWDW\F]Q LG\QDPLF]Q<br />
3R]QDMHP\V\VWHP\UR]JU\ZNRZHND*G\]<br />
ND*G\PSXFKDURZ\<br />
2UJDQL]XMHP\]DMFLDUHNUHDF\MQHZJ<br />
ZáDVQ\FKSRP\VáyZ<br />
<br />
<br />
<br />
8F]HVWQLF]\ZJU]H<br />
8F]HVWQLF]\ZJU]H<br />
=QD ]DVDG\GRERUXüZLF]H<br />
3RGHMPLHSUyE\VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
3RGHMPLHSUyE\ VDPRG]LHOQHJR<br />
VG]LRZDQLD<br />
=DSURSRQXMHüZLF]HQLDVLáRZH<br />
=QD]DVDG\WZRU]HQLDV\VWHPyZ 6DPRG]LHOQLHVWZRU]\V\VWHPUR]JU\ZHN<br />
UR]JU\ZHN<br />
GODZ\EUDQHMG\VF\SOLQ\<br />
8F]HVWQLF]\Z]DMFLDFK 3RPDJDZRUJDQL]DFMLSHáQLUy*QH<br />
IXQNFMH<br />
GOD8QDMOHSLHM<br />
FKZ\WDMFHJRZUNDZLF<br />
OXEEGEZ]DOH*QRFLRG<br />
IXQNFML8F]QLD<br />
GODXF]QLDSURSRQXMFHJR<br />
QDMOHSV]\]HVWDZüZLF]H<br />
OXEEGEZ]DOH*QRFLRG<br />
JU\LIXQNFML8F]QLD<br />
8:$*,25($/,=$&-,<br />
ZZZZ\FKRZDQLHIL]\F]QHSO
Change language