1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRGHNODUDFM 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\P7HNVWMHGQ']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyESUDZQ\FKMHGQRVWHNRUJDQL]DF\MQ\FKRUD]VSyáHNQLHPDM F\FKRVRERZR FLSUDZQHME G F\FK ZáD FLFLHODPLJUXQWyZSRVLDGDF]DPLVDPRLVWQ\PLJUXQWyZX \WNRZQLNDPLZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLJUXQWyZ VWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJRRUD]GODRVyEIL]\F]Q\FKE G F\FKZVSyáZáD FLFLHODPL OXEZVSyáSRVLDGDF]DPL]RVREDPLSUDZQ\PLE G ]LQQ\PLMHGQRVWNDPLRUJDQL]DF\MQ\PLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHMOXE]H VSyáNDPLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHM 7HUPLQVNáDGDQLD'RVW\F]QLDND GHJRURNXSRGDWNRZHJRZWHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQDSRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]H PDM F\FKZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDJUXQWyZ :ymw*plq\.ádm QLHSRWU]HEQHVNUH OLü GRW\F]\VNáDGDM FHJRGHNODUDFM QLHE G FHJRRVRE IL]\F]Q GRW\F]\VNáDGDM FHJRGHNODUDFM E G FHJRRVRE IL]\F]Q 5RG]DMVNáDGDM FHJRGHNODUDFM ]D]QDF]\üZáD FLZ NUDWN qrvredil]\f]qdqrvredsudzqdqmhgqrvwndrujdql]df\mqd qvsyándqlhpdm FDRVRERZR FLSUDZQHM 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLNZLHF]\VW\ qzvsyáx \WNRZQLNZLHF]\VW\qSRVLDGDF]qZVSyáSRVLDGDF] 0LHMVFHDDGUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLDRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZDSHáQD1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD 1D]ZDVNUyFRQDLPL RMFDLPL PDWNL,GHQW\ILNDWRU5(*211XPHU3(6(/.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 8OLFD.RGSRF]WRZ\ 3RZLDW 1XPHUGRPX1XPHUORNDOX 3RF]WD 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN qghnodudfmdurf]qdqnruhnwdghnodudfmlurf]qhm

/LF]EDKHNWDUyZ6WDZND]KD SU]HOLF]H QLRZ\FK.ODV\X \WNyZ Z\QLNDM FH ]HZLGHQFML JUXQWyZ LEXG\QNyZ 1LHSRGOHJDM FH SU]HOLF]HQLXQDKD SU]HOLF]HQLRZH 3RGOHJDM FH SU]HOLF]HQLX QDKHNWDU\ SU]HOLF]HQLRZH SU]HOLF]H QLRZHJROXE IL]\F]QHJR Z]áJU :\PLDU SRGDWNX UROQHJR Z]áJU *UXQW\RUQH,,,,,,D,,,E,9D,9E 9 9, 9,] 6DG\,,,,,,D,,,,,,E,9D,9,9E 9 9, 9,] 8 \WNL]LHORQH,,,,,,,9 9 9, 9,] *UXQW\UROQH ]DEXGRZDQH,,,,,,D,,,,,,E,9D,9,9E 9 9, 9,] *UXQW\SRG VWDZDPL

D]DU\ELRQH árvrvlhpwurfl JáRZDFLF SDOL LSVWU JLHP E]DU\ELRQH LQQ\PL JDWXQNDPLU\E QL ZSR]D FJUXQW\SRG VWDZDPL QLH]DU\ELRQ\PL 5RZ\ *UXQW\ ]DGU]HZLRQH L]DNU]DF]RQH SRáR RQHQD85,,,,,,D,,,,,,E,9D,9 9 9, 9,] 5D]HP EH] ]ZROQLH SRGDüURG]DMNODV LSRZLHU]FKQL JUXQWyZ]ZROQLRQ\FKRUD]SU]HSLVSUDZD]MDNLHJRW\WXáXZ\VW SXMH]ZROQLHQLH 1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U'HNODUDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL F±URN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

:ymw*plq\.ádm 1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRGHNODUDFM 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FK7HNVWMHGQ']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyESUDZQ\FKMHGQRVWHNRUJDQL]DF\MQ\FKRUD]VSyáHNQLHPDM F\FKRVRERZR FLSUDZQHME G F\FK ZáD FLFLHODPLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FKSRVLDGDF]DPLVDPRLVWQ\PLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FK X \WNRZQLNDPLZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLQLHUXFKRPR FLOXELFKF] FLDOERRELHNWyZEXGRZODQ\FKOXELFKF] FL VWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJRRUD]GODRVyEIL]\F]Q\FKE G F\FKZVSyáZáD FLFLHODPL OXEZVSyáSRVLDGDF]DPL]RVREDPLSUDZQ\PLE G ]LQQ\PLMHGQRVWNDPLRUJDQL]DF\MQ\PLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHMOXE] VSyáNDPLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHM]Z\M WNLHPRVyEWZRU] F\FKZVSyOQRW PLHV]NDQLRZ 7HUPLQVNáDGDQLD'RVW\F]QLDND GHJRURNXSRGDWNRZHJRZWHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQDSRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]H PDM F\FKZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLD QLHSRWU]HEQHVNUH OLü GRW\F]\VNáDGDM FHJRGHNODUDFM QLHE G FHJRRVRE IL]\F]Q GRW\F]\VNáDGDM FHJRGHNODUDFM E G FHJRRVRE IL]\F]Q 5RG]DMVNáDGDM FHJRGHNODUDFM ]D]QDF]\üZáD FLZ NUDWN " RVREDIL]\F]QD" RVREDSUDZQD" MHGQRVWNDRUJDQL]DF\MQD " VSyáNDQLHPDM FDRVRERZR FLSUDZQHM 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLNZLHF]\VW\ qzvsyáx \WNRZQLNZLHF]\VW\qSRVLDGDF]qZVSyáSRVLDGDF] 0LHMVFHDDGUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLDRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZDSHáQD1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD 1D]ZDVNUyFRQDLPL RMFDLPL PDWNL,GHQW\ILNDWRU5(*211XPHU3(6(/.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 8OLFD.RGSRF]WRZ\ 3RZLDW 1XPHUGRPX1XPHUORNDOX 3RF]WD 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN qghnodudfmdurf]qdqnruhnwdghnodudfmlurf]qhm :\V]F]HJyOQLHQLH 3RGVWDZD RSRGDWNRZDQLD 6WDZNDSRGDWNX Z\QLNDM FD] 8FKZDá\5DG\ *PLQ\ RJáRV]RQDZ'] 8U] GRZ\P :RMHZyG]WZD ZURNX SRSU]HG]DM F\PGDQ\ URNSRGDWNRZ\ Z]áJU.ZRWDSRGDWNX Z]áJU QDOH \]DRNU JOLü GRSHáQ\FK G]LHVL WHNJURV]\

PLHV]NDOQ\FKRJyáHP P :W\P NRQG\JQDFMLRZ\VRNR FLRGGRP]DOLF]\üÈ SRZLHU]FKQL NRQG\JQDFMLRZ\VRNR FLSRZ\ HMP Pð Pð ]ZL ]DQ\FK]SURZDG]HQLHPG]LDáDOQR FLJRVSRGDUF]HM RUD]RGF] FLEXG\QNyZPLHV]NDOQ\FK]DM W\FKQD SURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMRJyáHP P ]DM WHQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ ]DNUHVLHREURWXNZDOLILNRZDQ\PPDWHULDáHPVLHZQ\P RJyáHP P ]DM WHQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ P ]DNUHVLH ZLDGF]HQLDXVáXJ]GURZRWQ\FKRJyáHP SR]RVWDá\FKEXG\QNyZRJyáHP P 'RSRZLHU]FKQLX \WNRZHMEXG\QNXOXEMHJRF] FLQDOH \]DOLF]\üSRZLHU]FKQL PLHU]RQ SRZHZQ WU]QHMGáXJR FL FLDQQDZV]\VWNLFK NRQG\JQDFMDFK]Z\M WNLHPSRZLHU]FKQLNODWHNVFKRGRZ\FKRUD]V]\EyZG ZLJRZ\FK=DNRQG\JQDFM XZD DVL UyZQLH JDUD HSRG]LHPQH SLZQLFHVXWHUHQ\LSRGGDV]DX \WNRZH ]ZL ]DQ\FK]SURZDG]HQLHPG]LDáDOQR FLJRVSRGDUF]HM EH]Z]JO GXQDVSRVyE]DNZDOLILNRZDQLDZHZLGHQFML JUXQWyZLEXG\QNyZ P SRGMH]LRUDPL]DM W\FKQD]ELRUQLNLZRGQHUHWHQF\MQHOXE HOHNWURZQLZRGQ\FK P SR]RVWDáHJUXQW\ P ZDUWR ürnwyuhmprzdzsu]hslvdfkrsrgdwndfkgrfkrgrz\fk.zrwdsrgdwnx 6XPDNZRW]NRO'QDOH \]DRNU JOLüGRSHáQ\FKG]LHVL WHNJURV]\

1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U'HNODUDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRGHNODUDFM 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDSD G]LHUQLNDURSRGDWNXOH Q\P']81USR] 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyESUDZQ\FKMHGQRVWHNRUJDQL]DF\MQ\FKRUD]VSyáHNQLHPDM F\FKRVRERZR FLSUDZQHM E G F\FKZáD FLFLHODPLODVyZSRVLDGDF]DPLVDPRLVWQ\PLODVyZX \WNRZQLNDPLZLHF]\VW\PLODVyZSRVLDGDF]DPLODVyZ VWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJRRUD]GODRVyEIL]\F]Q\FKE G F\FK ZVSyáZáD FLFLHODPLOXEZVSyáSRVLDGDF]DPL]RVREDPLSUDZQ\PLE G ]LQQ\PLMHGQRVWNDPLRUJDQL]DF\MQ\PL QLHSRVLDGDM F\PLRVRERZR FLSUDZQHMOXE]VSyáNDPLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHM 7HUPLQVNáDGDQLD'RGQLDVW\F]QLDND GHJRURNXSRGDWNRZHJRZWHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQD SRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]H PDM F\FKZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLD :ymw*plq\.ádm QLHSRWU]HEQHVNUH OLü GRW\F]\VNáDGDM FHJRGHNODUDFM QLHE G FHJRRVRE IL]\F]Q GRW\F]\VNáDGDM FHJRGHNODUDFM E G FHJRRVRE IL]\F]Q %'$1(,'(17<),.$&<-1( 5RG]DMVNáDGDM FHJRGHNODUDFM ]D]QDF]\üZáD FLZ NUDWN qrvredil]\f]qdqrvredsudzqdqmhgqrvwndrujdql]df\mqd qvsyándqlhpdm FDRVRERZR FLSUDZQHM 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLNZLHF]\VW\ qzvsyáx \WNRZQLNZLHF]\VW\qSRVLDGDF]qZVSyáSRVLDGDF] 0LHMVFHDDGUHV\SRáR HQLDODVXRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZDSHáQD1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD 1D]ZDVNUyFRQD,PL RMFDLPL PDWNL,GHQW\ILNDWRU5(*211XPHU3(6(/ %$'5(66,('=,%<$'5(6=$0,(6=.$1,$.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 3RZLDW 8OLFD 1UGRPX1UORNDOX.RGSRF]WRZ\ 3RF]WD 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN qghnodudfmdurf]qdqnruhnwdghnodudfmlurf]qhm '=:<- 7.,(0=:2/1,21<&+

:\V]F]HJyOQLHQLH 3RZLHU]FKQLD ZKHNWDUDFK IL]\F]Q\FK 6WDZNDSRGDWNX P GUHZQD;FHQD GUHZQD Z]áJU 3RGDWHNZ]áJU QDOH \]DRNU JOLüGR SHáQ\FKG]LHVL WHN JURV]\ UXEU[UXEU /DV\ZFKRG] FHZVNáDGUH]HUZDWyZ SU]\URG\LSDUNyZQDURGRZ\FK /DV\SR]RVWDáHQLHZ\PLHQLRQH ZZL SRGDüSRZLHU]FKQL ]ZROQLRQHJRODVXRUD]SU]HSLVSUDZD]MDNLHJRW\WXáXZ\VW SXMH]ZROQLHQLH 1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U'HNODUDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 1DURN 3RGVWDZDSUDZQD8VWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FK7HNVWMHGQ']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD FLFLHODPLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FKSRVLDGDF]DPL VDPRLVWQ\PLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FKX \WNRZQLNDPLZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLQLHUXFKRPR FLOXELFK F] FLDOERRELHNWyZEXGRZODQ\FKOXELFKF] FLVWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 7HUPLQVNáDGDQLD:WHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQDSRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE ]DLVWQLHQLD]GDU]HQLDPDM FHJRZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLD :ymw*plq\.ádm 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLNZLHF]\VW\ qzvsyáx \WNRZQLNZLHF]\VW\qSRVLDGDF]qZVSyáSRVLDGDF] 0LHMVFHDDGUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLDRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD,PL RMFDLPL PDWNL 1XPHU3(6(/.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 8OLFD.RGSRF]WRZ\ 3RZLDW 1XPHUGRPX1XPHUORNDOX 3RF]WD 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN qlqirupdfmdvnádgdqdsrud]slhuzv]\qdgdq\urnqnruhnwdxsu]hgqlr]ár RQHMLQIRUPDFMLZ\ND]X PLHV]NDOQ\FKRJyáHP P ZW\P NRQG\JQDFMLRZ\VRNR FLRGGRP]DOLF]\üÈ SRZLHU]FKQL NRQG\JQDFMLRZ\VRNR FLSRZ\ HMP ]ZL ]DQ\FK]SURZDG]HQLHPG]LDáDOQR FLJRVSRGDUF]HM RUD]RGF] FLEXG\QNyZPLHV]NDOQ\FK]DM W\FKQD SURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMRJyáHP ]DM WHQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ ]DNUHVLHREURWXNZDOLILNRZDQ\PPDWHULDáHPVLHZQ\P RJyáHP Pð Pð P P

]DM WHQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ ]DNUHVLH ZLDGF]HQLDXVáXJ]GUR ZRWQ \FKR JyáHP P ð SR]RVWDá\FKEXG\QNyZ P 'RSRZLHU]FKQLX \WNRZHMEXG\QNXOXEMHJRF] FLQDOH \]DOLF]\üSRZLHU]FKQL PLHU]RQ SRZHZQ WU]QHMGáXJR FL FLDQQDZV]\VWNLFK NRQG\JQDFMDFK]Z\M WNLHPSRZLHU]FKQLNODWHNVFKRGRZ\FKRUD]V]\EyZG ZLJRZ\FK=DNRQG\JQDFM XZD DVL UyZQLH JDUD HSRG]LHPQHSLZQLFH VXWHUHQ\LSRGGDV]DX \WNRZH SRGMH]LRUDPL]DM ]ZL ]DQ\FK]SURZDG]HQLHPG]LDáDOQR FLJRVSRGDUF]HMEH]Z]Já GXQD VSRVyE]DNZDOLILNRZDQLDZHZLGHQFMLJUXQWyZLEXG\QNyZ W\FKQD]ELRUQLNLZ RGQHUHWHQF\MQHOXE HOHNWURZ QLZRGQ\FK SR]RVWDáHJUXQW\ ZDUWR ürnwyuhmprzdzsu]hslvdfkrsrgdwndfkgrfkrgrz\fk P P P SRGDüSRZLHU]FKQL E G ZDUWR üexgrzolsu]hgplrwyz]zroqlrq\fkrud]su]hslvsudzd±]mdnlhjrw\wxáxz\vw SXMH]ZROQLHQLH 1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U,QIRUPDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\P7HNVWMHGQ']8]U1USR]]H]P 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD FLFLHODPLJUXQWyZSRVLDGDF]DPLVDPRLVWQ\PLJUXQWyZX \WNRZQLNDPL ZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLJUXQWyZQDSRGVWDZLHXPRZ\]DZDUWHMVWRVRZQLHGRSU]HSLVyZRXEH]SLHF]HQLXVSRáHF]Q\P UROQLNyZRUD]SRVLDGDF]DPLJUXQWyZVWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 7HUPLQVNáDGDQLD:WHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQDSRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE ]DLVWQLHQLD]GDU]H PDM F\FKZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDJUXQWyZ :ymw*plq\.odm 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLNZLHF]\VW\ qzvsyáx \WNRZQLNZLHF]\VW\qSRVLDGDF]qZVSyáSRVLDGDF] 0LHMVFHDDGUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLDRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD,PL RMFDLPL PDWNL 1XPHU3(6(/.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 8OLFD.RGSRF]WRZ\ 3RZLDW 1XPHUGRPX1XPHUORNDOX 3RF]WD 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN qlqirupdfmdvnádgdqdsrud]slhuzv]\qdgdq\urnqnruhnwdxsu]hgqlr]ár RQHMLQIRUPDFML.ODV\X \WNyZZ\QLNDM FH] HZLGHQFMLJUXQWyZLEXG\QNyZ *UXQW\RUQH,,,,,,D,,,E,9D,9E 9 9,=

6DG\,,,,,,D,,,,,,E,9D,9,9E 9 9, 9,] 8 \WNL]LHORQH,,,,,,,9 9 9, 9,] *UXQW\UROQH]DEXGRZDQH,,,,,,D,,,,,,E,9D,9,9E 9 9, 9,] *UXQW\SRGVWDZDPL D]DU\ELRQHáRVRVLHPWURFL JáRZDFLF SDOL LSVWU JLHP E]DU\ELRQHLQQ\PLJDWXQNDPLU\EQL ZSR]D FJUXQW\SRGVWDZDPLQLH]DU\ELRQ\PL 5RZ\ *UXQW\]DGU]HZLRQHL]DNU]DF]RQH SRáR RQHQD85,,,,,,D,,,,,,E,9D,9 9 9, 9,] 5D]HP

SRGDüURG]DMNODV LSRZLHU]FKQL JUXQWyZ]ZROQLRQ\FKRUD]SU]HSLVSUDZD]MDNLHJRW\WXáXZ\VW SXMH]ZROQLHQLH 1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U,QIRUPDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL F±URN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 5RN 3RGVWDZDSUDZQD8VWDZD]GQLDSD G]LHUQLNDURSRGDWNXOH Q\P']81USR] 6NáDGDM F\)RUPXODU]SU]H]QDF]RQ\GODRVyEIL]\F]Q\FKE G F\FKZáD FLFLHODPLODVyZSRVLDGDF]DPLVDPRLVWQ\PLODVyZX \WNRZQLNDPL ZLHF]\VW\PLODVyZSRVLDGDF]DPLODVyZVWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 7HUPLQVNáDGDQLD:WHUPLQLHGQLRG]DLVWQLHQLDRNROLF]QR FLPDM F\FKZSá\ZQDSRZVWDQLHE G Z\JD QL FLHRERZL ]NXSRGDWNRZHJR OXE]DLVWQLHQLD]GDU]H PDM F\FKZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD:yMW*PLQ\ZáD FLZ\]HZ]JO GXQDPLHMVFHSRáR HQLDODVX :ymw*plq\.ádm %'$1(,'(17<),.$&<-1( 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\qX \WNRZQLN 0LHMVFHDDGUHV\SRáR HQLDODVXRUD]QXPHU\G]LDáHN 1XPHU\NVL JLZLHF]\VWHMOXE]ELRUXyZGRNXPHQWyZ 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL GDWDXURG]HQLD,PL RMFDLPL PDWNL 1XPHU3(6(/ %$'5(6=$0,(6=.$1,$.UDM *PLQD 0LHMVFRZR ü :RMHZyG]WZR 8OLFD.RGSRF]WRZ\ 3RF]WD 3RZLDW 1UGRPX1UORNDOX 2NROLF]QR FL]D]QDF]\üZáD FLZ NUDWN q,qirupdfmdvnádgdqdsrud]slhuzv]\qdgdq\urnqnruhnwd]ár RQHMXSU]HGQLRLQIRUPDFML '=:<- 7.,(0=:2/1,21<&+

:\V]F]HJyOQLHQLH 3RZLHU]FKQLDZKHNWDUDFKIL]\F]Q\FK /DV\ZFKRG] FHZVNáDGUH]HUZDWyZ SU]\URG\LSDUNyZQDURGRZ\FK /DV\SR]RVWDáHQLHZ\PLHQLRQH ZZL SRGDüSRZLHU]FKQL ODVX]ZROQLRQHJRRUD]SU]HSLVSUDZD]MDNLHJRW\WXáXZ\VW SXMH]ZROQLHQLH >@1DSRGVWDZLHDUWD8VWDZ\RSRVW SRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML']81U]U,QIRUPDFMD QLQLHMV]DVWDQRZLSRGVWDZ GRSRGM FLDHJ]HNXFMLDGPLQLVWUDF\MQ\FK 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG,PL 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 8ZDJLRUJDQXSRGDWNRZHJR,GHQW\ILNDWRUSU]\MPXM FHJRIRUPXODU] 1D]ZLVNR 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHM VNáDGDM FHJR 'DWDLSRGSLVSU]\MPXM FHJRIRUPXODU]

2GVDPRFKRGXFLàëDURZHJR RGRSXV]F]DOQHMPDVLH FDãNRZLWHMSRMD]GXZWRQDFK DRGGRZãÜF]QLH :\SURGXNRZDQ\SRU :\SRVDëRQ\ ZNDWDOL]DWRU VSDOLQ ]ã 1LHZ\SRVDëRQ\ ZNDWDOL]DWRU VSDOLQ ]ã :\SURGXNRZDQ\GRUZãÜF]QLH :\SRVDëRQ\ ZNDWDOL]DWRU VSDOLQ ]ã 1LHZ\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ ]ã ESRZ\ëHMGRZãÜF]QLH ]ã ]ã ]ã ]ã FSRZ\ëHMLSRQLëHM ]ã ]ã ]ã ]ã /LF]EDRVLLGRSXV]F]DOQD PDVDFDãNRZLWD ZWRQDFK QLHPQLHM PQLHMQLë QLë RçMH]GQDRVLHMH]GQH ]]DZLHV]HQLHPSQHXPDW\F]Q\P OXE]DZLHV]HQLHPX]QDQ\P]D UÍZQRZDëQH LQQHV\VWHP\]DZLHV]HQLDRVL MH]GQ\FK 'ZLHRVLH ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã 7U]\RVLH ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã &]WHU\RVLHLZLàFHM ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã

:\SURGXNRZDQ\SRU :\SURGXNRZDQ\GRULZãÜF]QLH 'RSXV]F]DOQDPDVD FDãNRZLWD]HVSRãX SRMD]GÍZZWRQDFK :\SRVDëRQ\ ZNDWDOL]DWRU VSDOLQ 1LHZ\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ :\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ 1LHZ\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ DRGGRZãÜF]QLH ]ã ]ã ]ã ]ã ESRZ\ëHMLSRQLëHM ]ã ]ã ]ã ]ã /LF]EDRVLLGRSXV]F]DOQD PDVDFDãNRZLWD]HVSRãX SRMD]GÍZFLÜJQLNVLRGãRZ\ QDF]HSDFLÜJQLNEDODVWRZ\ SU]\F]HSDZWRQDFK QLHPQLHM PQLHMQLë QLë 2çMH]GQDRVLHMH]GQH] ]DZLHV]HQLHPSQHXPDW\F]Q\POXE ]DZLHV]HQLHPX]QDQ\P]D UÍZQRZDëQH,QQHV\VWHP\]DZLHV]HQLDRVL MH]GQ\FK 'ZLHRVLH ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã 7U]\RVLH ]ã ]ã ]ã ]ã 'RSXV]F]DOQD PDVDFDáNRZLWD ]HVSRáXSRMD]GyZ ZWRQDFK DRGGR Zá F]QLH ESRZ\ HML SRQL HM :\SURGXNRZDQHSRU ]á ]á :\SURGXNRZDQHGRUZá F]QLH ]á ]á /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD ]HVSRãXSRMD]GÍZQDF]HSDSU]\F]HSD SRMD]GVLOQLNRZ\ ZWRQDFK QLHPQLHMQLë PQLHMQLë 2çMH]GQDRVLHMH]GQH ]]DZLHV]HQLHP SQHXPDW\F]Q\POXE ]DZLHV]HQLHPX]QDQ\P]D UÍZQRZDëQH,QQHV\VWHP\]DZLHV]HQLD RVLMH]GQ\FK -HGQDRç ]ã ]ã ]ã ]ã ]ã ]ã 'ZLHRVLH ]ã ]ã ]ã ]ã ]ã ]ã ]ã ]ã 7U]\RVLH ]ã ]ã ]ã ]ã

2GDXWREXVXROLF]ELH PLHMVFGRVLHG]HQLD DPQLHMV]HMQLë PLHMVF EUÍZQHMOXEZ\ëV]HM QLëPLHMVF :\SURGXNRZDQ\SRU :\SRVDëRQ\Z NDWDOL]DWRUVSDOLQ ]ã 1LHZ\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ :\SURGXNRZDQ\GRUZãÜF]QLH :\SRVDëRQ\ 1LHZ\SRVDëRQ\ ZNDWDOL]DWRUVSDOLQ ZNDWDOL]DWRUVSDOLQ ]ã ]ã ]ã ]ã ]ã ]ã ]ã

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\PWHNVWMHGQ']8]U1USR] ]H]PXVWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FKDUWSNW )RUPXODU] SU]H]QDF]RQ\ GOD RVyE IL]\F]Q\FK E G F\FK ZáD FLFLHODPL JUXQWyZ SRVLDGDF]DPL VDPRLVWQ\PL JUXQWyZX \WNRZQLNDPLZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLJUXQWyZQDSRGVWDZLHXPRZ\]DZDUWHMVWRVRZQLHGR SU]HSLVyZ R XEH]SLHF]HQLX VSRáHF]Q\P UROQLNyZ RUD] G]LHU DZFDPL JUXQWyZ VWDQRZL F\FK ZáDVQR ü 6NDUEX 3D VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 7HUPLQ VNáDGDQLD : WHUPLQLH GQL RG ]DLVWQLHQLD RNROLF]QR FL PDM F\FK ZSá\Z QD SRZVWDQLH E G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]HQLDPDM FHJRZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD8U] G0LDVWDL*PLQ\6NDZLQD:\G]LDá)LQDQVRZ\±5\QHNSRNyMOXE]DSR UHGQLFWZHP SRF]W\ 5RN $'$1(6.à$'$- &(*2,1)250$&- 1UNDUW\SRGDWNRZHM $'$1(,'(17<),.$&<-1(32'$71,.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/OXEGDWDXURG]HQLDZ\ND]XMHVL W\ONRZyZF]DVJG\RVRELHIL]\F]QHMQLHQDGDQRQXPHUX3(6(/ $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD $'$1(,'(17<),.$&<-1(:63Ïà0$à 21.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/ 1,3 $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD

%'$1('27<&= &(35=('0,27Ï:232'$7.2:$1,$ %'$1('27<&= &('=,$à(.% ' &<&+:326,$'$1,832'$71,.$ Zá F]QLH]H]ZROQLRQ\PL 8ZDJDÄ:\ND]XMHVL RGU EQLHGODND GHMG]LDáNL /S 1UG]LDáNL 1U.VL JL :LHF]\VWHM.ODVDJUXQWX 3RZLHU]FKQLDJUXQWX RJyáHP 3RZLHU]FKQLD JUXQWX ]GRNáDGQR FL GRP %'$1('27<&= &(%8'<1.Ï:% ' &<&+:326,$'$1,832'$71,.$ Zá F]QLH]H]ZROQLRQ\PL 8ZDJDÄ:\ND]XMHVL RGU EQLHGODND GHJREXG\QNX /S $GUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLD 1U']LDáNL.VL JDZLHF]\VWD.VL JDZLHF]\VWD G]LDáNL EXG\QNXORNDOX %32:,(5=&+1,$8 <7.2:$%8'<1.Ï:0,(6=.$/1<&+/8%,&+&= 'RSRZLHU]FKQLX \WNRZHMEXG\QNXOXEMHJRF] FLQDOH \]DOLF]\üSRZLHU]FKQL PLHU]RQ SRZHZQ WU]QHM GáXJR FL FLDQQDZV]\VWNLFKNRQG\JQDFMDFK]Z\M WNLHPSRZLHU]FKQLNODWHNVFKRGRZ\FKRUD]V]\EyZ G ZLJRZ\FK=DNRQG\JQDFM XZD DVL UyZQLH JDUD HSRG]LHPQHSLZQLFHVXWHUHQ\LSRGGDV]DX \WNRZH &, PLHV]NDOQ\FKRJyáHP ZW\P NRQG\JQDFMLRZ\VRNR FLRGGRP ]DOLF]\üÈSRZLHU]FKQL NRQG\JQDFMLRZ\VRNR FLSRZ\ HMP P P P

%32:,(5=&+1,$%8'<1.Ï:1,(=:, =$1<&+='=,$à$/12 &, 52/1,&=, /( 1 SRGNUH OLüZáD FLZH V]RS\ZLDW\LJDUD HQLH]ZL ]DQH]G]LDáDOQR FL JRVSRGDUF] SR]RVWDáHEXG\QNL %,1)250$&-$235=('0,27$&+=:2/1,21<&+ SRGDüSRZLHU]FKQL E G ZDUWR üexgrzolsu]hgplrwyz]zroqlrq\fkrjyáhp P %32:,(5=&+1,$%8'<1.Ï:=:, =$1<&+=352:$'=21 '=,$à$/12 &, *2632'$5&=,11 1, 52/1,&=$,/( 1$ 5RG]DMZ\NRQ\ZDQHM G]LDáDOQR FLJRVSRGDUF]HM 'DWDUR]SRF] FLD 3RZLHU]FKQLDZ EXG\QNDFK PLHV]NDOQ\FK >P@ 3RZLHU]FKQLDZ LQQ\FKEXG\QNDFK ZROQRVWRM F\FK >P@ %XGRZOH ZDUWR ürnwyuhmprzdz SU]HSLVDFKRSRGDWNDFK GRFKRGRZ\FK %32:,(5=&+1,$%8'<1.Ï:/8%,&+&= &, ]DM WDQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ ]DNUHVLHREURWXNZDOLILNRZDQ\PPDWHULDáHPVLHZQ\P P ]DM WDQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HMZ ]DNUHVLH ZLDGF]HQLDXVáXJPHG\F]Q\FK ]ZROQLRQDQDSRGVWDZLH8FKZDá\5DG\0LHMVNLHMZ 6NDZLQLH P P &2 :,$'&=(1,(,32'3,66.à$'$- &(*2262%<5(35(=(178- &(- 6.à$'$- &(*2 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG :\UD DP]JRG QDZ\GDQLHGHF\]MLXVWDODM FHMZ\VRNR ü]rerzl ]DQLDSRGDWNRZHJRZRSDUFLXRSU]HGáR RQ\ Z\ND]QLHUXFKRPR FL$UW 2UG\QDFMLSRGDWNRZHM']8]1USR]]H]PLDQDPL 3RGDWQLNNWyU\XFK\ODM FVL RGRSRGDWNRZDQLDQLHXMDZQLDZáD FLZHPXRUJDQRZLSU]HGPLRWXOXESRGVWDZ\ RSRGDWNRZDQLDOXEQLHVNáDGDLQIRUPDFMLSRGOHJDNDU]HJU]\ZQ\GRVWDZHNG]LHQQ\FKDOERNDU]H SR]EDZLHQLDZROQR FLGRODWWU]HFKDOERREXW\PNDURPá F]QLHDUW DUW XVWDZ\±.RGHNVNDUQ\ VNDUERZ\']8]U1USR]]Sy Q]P,PL L1D]ZLVNR 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 3RGSLVVNáDGDM FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR

3RGVWDZDSUDZQD8VWDZD]GQLDOLVWRSDGDURSRGDWNXUROQ\PWHNVWMHGQROLW\']8]U 6NáDGDM F\ 1USR]]Sy Q]P )RUPXODU]SU]H]QDF]RQ\GODRVyESUDZQ\FKMHGQRVWHNRUJDQL]DF\MQ\FKRUD]VSyáHN QLH PDM F\FK RVRERZR FLSUDZQHM E G F\FK ZáD FLFLHODPL JUXQWyZ SRVLDGDF]DPL VDPRLVWQ\PLJUXQWyZX \WNRZQLNDPLZLHF]\VW\PLJUXQWyZSRVLDGDF]DPLJUXQWyZ VWDQRZL F\FKZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJRRUD] GODRVyEIL]\F]Q\FKE G F\FKZVSyáZáD FLFLHODPLOXEZVSyáSRVLDGDF]DPL]RVREDPL SUDZQ\PL E G ]LQQ\PL MHGQRVWNDPL RUJDQL]DF\MQ\PL QLH SRVLDGDM F\PL RVRERZR FLSUDZQHMOXEVSyáNDPLQLHSRVLDGDM F\PLRVRERZR FLSUDZQHM 7HUPLQ VNáDGDQLD 'R VW\F]QLD ND GHJR URNX SRGDWNRZHJR OXE Z WHUPLQLH GQL RG ]DLVWQLHQLD RNROLF]QR FL PDM F\FK ZSá\Z QD SRZVWDQLH E G Z\JD QL FLH RERZL ]NX SRGDWNRZHJR 0LHMVFHVNáDGDQLD8U] G0LDVWDL*PLQ\6NDZLQD:\G]LDá)LQDQVRZ\5\QHNSRNyMOXE]D SR UHGQLFWZHPSRF]W\

3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHM VNáDGDM FHJR 'DWDZ\SHáQLHQLDG]LH PLHVL FURN

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 5RN 3RGVWDZD SUDZQD 8VWDZD ] GQLD SD G]LHUQLND U R SRGDWNX OH Q\P ']81U SR]]H]P XVWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FKDUWSR] 6NáDGDM F\ )RUPXODU] SU]H]QDF]RQ\ GOD RVyE IL]\F]Q\FK E G F\FK ZáD FLFLHODPL QLHUXFKRPR FL OXE RELHNWyZ EXGRZODQ\FKSRVLDGDF]DPLVDPRLVWQ\PLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FKX \WNRZQLNDPLZLHF]\VW\PL JUXQWyZ SRVLDGDF]DPL QLHUXFKRPR FL OXE LFK F] FL DOER RELHNWyZ EXGRZODQ\FK OXELFK F] FL VWDQRZL F\FK ZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 7HUPLQ VNáDGDQLD : WHUPLQLH GQL RG ]DLVWQLHQLD RNROLF]QR FL PDM F\FK ZSá\Z QD SRZVWDQLH E G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]HQLDPDM FHJRZSá\ZQDZ\VRNR üsrgdwnx 0LHMVFHVNáDGDQLD8U] G0LDVWDL*PLQ\6NDZLQD:\G]LDá)LQDQVRZ\±5\QHNSRNyMOXE]DSR UHGQLFWZHP SRF]W\ $'$1(6.à$'$- &(*2,1)250$&- 1UNDUW\SRGDWNRZHM $'$1(,'(17<),.$&<-1(32'$71,.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/'DWDXURG]HQLD:\ND]XMHVL W\ONRZyZF]DVJG\RVRELHIL]\F]QHMQLHQDGDQRQXPHUX3(6(/ $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD $'$1(,'(17<),.$&<-1(:63Ïà0$à 21.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/ 1,3 $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD

3RZLHU]FKQLD :\V]F]HJyOQLHQLH 8ZDJDÄ:\ND]XMHP\ ]GRNáDGQR FL GRP 3RZLHU]FKQLDODVyZZKDIL]\F]Q\FKE G F\FKZSRVLDGDQLX SRGDWQLND]Z\á F]HQLHPODVyZZVND]DQ\FKZSR]L 3RZLHU]FKQLDODVyZRFKURQQ\FKRUD]ODVyZZFKRG] F\FKZVNáDG UH]HUZDWyZSU]\URG\SDUNyZQDURGRZ\FK 3RZLHU]FKQLDODVyZ]ZROQLRQ\FK]RSRGDWNRZDQLDSRGDWNLHP OH Q\PRJyáHPZW\P ˆ ODV\]GU]HZRVWDQHPZZLHNXGRODW ˆ ODV\ZSLVDQHLQG\ZLGXDOQLHGRUHMHVWUX]DE\WNyZ ˆ X \WNLHNRORJLF]QH ˆ LQQH]ZROQLHQLDZ\QLNDM FH]DUWXVWXVWDZ\RSRGDWNX OH Q\P &2 :,$'&=(1,(,32'3,66.à$'$- &(*2262%<5(35(=(178- &(- 6.à$'$- &(*2 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG :\UD DP ]JRG QD Z\GDQLH GHF\]ML XVWDODM FHM Z\VRNR ü ]RERZL ]DQLD SRGDWNRZHJR Z RSDUFLX R SU]HGáR RQ LQIRUPDFM Z VSUDZLH SRGDWNX OH QHJR $UW 2UG\QDFML SRGDWNRZHM ']8 ] 1USR]]H]PLDQDPL 3RGDWQLNNWyU\XFK\ODM FVL RGRSRGDWNRZDQLDQLHXMDZQLDZáD FLZHPXRUJDQRZLSU]HGPLRWXOXESRGVWDZ\ RSRGDWNRZDQLDOXEQLHVNáDGDLQIRUPDFMLSRGOHJDNDU]HJU]\ZQ\GRVWDZHNG]LHQQ\FKDOERNDU]H SR]EDZLHQLDZROQR FLGRODWWU]HFKDOERREXW\PNDURPá F]QLHDUW DUW XVWDZ\±.RGHNVNDUQ\ VNDUERZ\']8]U1USR]]Sy Q]P,PL L1D]ZLVNR 'DWDZ\SHáQLHQLDG]LH PLHVL FURN 3RGSLVVNáDGDM FHJRRVRE\UHSUH]HQWXM FHMVNáDGDM FHJR

3LHF]àÞQDJãÍZNRZD 1U3.' 1U1,3 1UNRQWDEDQNRZHJR 'HNODUDFMDQDSRGDWHNOHçQ\QDURN ZãDçFLFLHO ZVSÍãZãDçFLFLHO SRVLDGDF]VDPRLVWQ\ Xë\WNRZQLNZLHF]\VW\ODVÍZ SRVLDGDF]ODVÍZVWDQRZLÜF\FKZãDVQRçÞ6NDUEX3DåVWZDOXEMHGQRVWNLVDPRU]ÜGXWHU\WRULDOQHJR ZãDçFLZHSRGNUHçOLÞ :\PLDUXVWDOHQLHSRGDWNXOHçQHJR, :\V]F]HJÍOQLHQLH 3RZLHU]FKQLD ODVÍZZKD IL]\F]Q\FK 6WDZND SRGDWNXZ]ã ]DKD /DV\]Z\ãÜF]HQLHPODVÍZZVND]DQ\FKZSR]L 3RZLHU]FKQLD ODVÍZ RFKURQQ\FK RUD] ODVÍZ ZFKRG]ÜF\FK ZVNãDGUH]HUZDWÍZSU]\URG\SDUNÍZQDURGRZ\FK 3RZLHU]FKQLD ODVÍZ ]ZROQLRQ\FK ] RSRGDWNRZDQLD SRGDWNLHPOHçQ\PRJÍãHPZW\P DODV\]GU]HZRVWDQHPZZLHNXGRODW EODV\ZSLVDQHLQG\ZLGXDOQLHGRUHMHVWUX]DE\WNÍZ FXë\WNLHNRORJLF]QH.ZRWD SRGDWNX,QQH ]ZROQLHQLD Z\QLNDMÜFH ] DUW XVW XVWDZ\ RSRGDWNXOHçQ\P 5D]HPSRGDWHN SRGDÞSRGVWDZà]ZROQLHQLDNZRWàSRGDWNX]DRNUÜJODP\GRSHãQ\FKG]LHVLÜWHNJURV]\ LPLàLQD]ZLVNRRVRE\ NLHURZQLNMHGQRVWNL SRGSLVNVLàJRZHJR RGSRZLHG]LDOQHM]DSUDZLGãRZH REOLF]HQLHSRGDWNX 3RXF]HQLH 1D PRF\ SU]HSLVX DUW D SNW L SNW XVWDZ\ ] GQLD F]HUZFD U R SRVWàSRZDQLX HJ]HNXF\MQ\P Z DGPLQLVWUDFML WHNVW MHGQROLW\ '] 8 ] 1U SR] ] SÍéQ ]P Z ]DNUHVLH ]RERZLÜ]DåSRZVWDã\FKZSU]\SDGNDFKRNUHçORQ\FKZDUWSNWXVWDZ\r2UG\QDFMDSRGDWNRZD '] 8 ] U 1U SR] ] SÍéQ ]P MHëHOL Z\QLNDMÜ RQH ] GHNODUDFML OXE ]H]QDQLD ]ãrërqhjr SU]H]SRGDWQLNDVWRVXMHVLàHJ]HNXFMàDGPLQLVWUDF\MQÜ 1LQLHMV]DGHNODUDFMDPRëHVWDQRZLÞSRGVWDZàGRZ\VWDZLHQLDW\WXãXZ\NRQDZF]HJRLZV]F]àFLD SRVWàSRZDQLDHJ]HNXF\MQHJR

1XPHU,GHQW\ILNDFML3RGDWNRZHMVNáDGDM FHJRLQIRUPDFM 5RN 3RGVWDZD SUDZQD 8VWDZD] GQLD VW\F]QLD U R SRGDWNDFK L RSáDWDFK ORNDOQ\FK ']8] U 1U SR]]Sy Q]PXVWDZD]GQLDVW\F]QLDURSRGDWNDFKLRSáDWDFKORNDOQ\FKDUWSR] 6NáDGDM F\ )RUPXODU] SU]H]QDF]RQ\ GOD RVyE IL]\F]Q\FK E G F\FK ZáD FLFLHODPL QLHUXFKRPR FL OXE RELHNWyZ EXGRZODQ\FKSRVLDGDF]DPLVDPRLVWQ\PLQLHUXFKRPR FLOXERELHNWyZEXGRZODQ\FKX \WNRZQLNDPLZLHF]\VW\PL JUXQWyZ SRVLDGDF]DPL QLHUXFKRPR FL OXE LFK F] FL DOER RELHNWyZ EXGRZODQ\FK OXE LFK F] FL VWDQRZL F\FK ZáDVQR ü6nduex3d VWZDOXEMHGQRVWNLVDPRU] GXWHU\WRULDOQHJR 0LHMVFHVNáDGDQLD8U] G0LDVWDL*PLQ\6NDZLQD:\G]LDá)LQDQVRZ\±5\QHNSRNyMOXE]DSR UHGQLFWZHP SRF]W\ 7HUPLQ VNáDGDQLD : WHUPLQLH GQL RG ]DLVWQLHQLD RNROLF]QR FL PDM F\FK ZSá\Z QD SRZVWDQLH E G Z\JD QL FLHRERZL ]NXSRGDWNRZHJROXE]DLVWQLHQLD]GDU]HQLDPDM FHJRZSá\ZQDZ\VRNR üsrgdwnx $'$1(6.à$'$- &(*2,1)250$&- $'$1(,'(17<),.$&<-1(32'$71,.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN 1UNDUW\SRGDWNRZHM qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/OXEGDWDXURG]HQLDZ\ND]XMHVL W\ONRZyZF]DVJG\RVRELHIL]\F]QHMQLHQDGDQRQXPHUX3(6(/ $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD $'$1(,'(17<),.$&<-1(:63Ïà0$à 21.$ 5RG]DMZáDVQR FLSRVLDGDQLD]D]QDF]\üZáD FLZ NUDWN qzád FLFLHOqZVSyáZáD FLFLHOqSRVLDGDF]VDPRLVWQ\qZVSyáSRVLDGDF]VDPRLVWQ\ qx \WNRZQLNZLHF]\VW\qZVSyáX \WNRZQLNZLHF]\VW\q,QQ\SRGPLRW 1D]ZLVNRSLHUZV]HLPL GUXJLHLPL,PL RMFD,PL PDWNL 3(6(/ 1,3 $$'5(6=$0,(6=.$1,$.UDM :RMHZyG]WZR 3RZLDW *PLQD 8OLFD 1UGRPX1UORNDOX 0LHMVFRZR ü.rgsrf]wrz\ 3RF]WD

%'$1('27<&= &(35=('0,27Ï:232'$7.2:$1,$ %32:,(5=&+1,$*5817Ï: 8ZDJDÄ:\ND]XMHP\]GRNáDGQR FL GRP ]ZL ]DQ\FK]SURZDG]HQLHPG]LDáDOQR FL JRVSRGDUF]HMEH]Z]JO GXQDVSRVyE ]DNZDOLILNRZDQLDZHZLGHQFMLJUXQWyZLEXG\QNyZ P SRGMH]LRUDPL]DM W\FKQD]ELRUQLNLZRGQHUHWHQF\MQH OXEHOHNWURZQLZRGQ\FK SR]RVWDáHJUXQW\ZW\P]DM WHQDSURZDG]HQLH RGSáDWQHMVWDWXWRZHMG]LDáDOQR FLSR \WNXSXEOLF]QHJR SU]H]RUJDQL]DFMHSR \WNXSXEOLF]QHJR KD P %32:,(5=&+1,$8 <7.2:$%8'<1.Ï:0,(6=.$/1<&+/8%,&+&= &, 'RSRZLHU]FKQLX \WNRZHMEXG\QNXOXEMHJRF] FLQDOH \]DOLF]\üSRZLHU]FKQL PLHU]RQ SRZHZQ WU]QHM GáXJR FL FLDQQDZV]\VWNLFKNRQG\JQDFMDFK]Z\M WNLHPSRZLHU]FKQLNODWHNVFKRGRZ\FKRUD]V]\EyZ G ZLJRZ\FK=DNRQG\JQDFM XZD DVL UyZQLH JDUD HSRG]LHPQHSLZQLFHVXWHUHQ\LSRGGDV]DX \WNRZH PLHV]NDOQ\FKRJyáHP P ZW\P NRQG\JQDFMLRZ\VRNR FLRGGRP]DOLF]\ü P ÈSRZLHU]FKQL NRQG\JQDFMLRZ\VRNR FLSRZ\ HMP P %32=267$à$32:,(5=&+1,$%8'<1.Ï:/8%,&+&= &, SRGNUH OLüZáD FLZH SR]RVWDáHEXG\QNLVWDMQLHVWRGRá\V]RS\ZLDW\ LJDUD HQLH]ZL ]DQH]G]LDáDOQR FL JRVSRGDUF] EXG\QNL]DM WHQDSURZDG]HQLHRGSáDWQHMVWDWXWRZHM G]LDáDOQR FLSR \WNXSXEOLF]QHJRSU]H]RUJDQL]DFMH SR \WNXSXEOLF]QHJR P %32:,(5=&+1,$%8'<1.Ï:=:, =$1<&+=352:$'=21 '=,$à$/12 &, *2632'$5&=,11 1, 52/1,&=$,/( 1$ 3RZLHU]FKQLDZ 3RZLHU]FKQLDZ 5RG]DMZ\NRQ\ZDQHM %XGRZOH EXG\QNDFK LQQ\FKEXG\QNDFK ZDUWR ürnwyuhmprzd G]LDáDOQR FL PLHV]NDOQ\FK ZROQRVWRM F\FK ZSU]HSLVDFKRSRGDWNDFK 'DWDUR]SRF] FLD >P @ >P @ GRFKRGRZ\FK %32:,(5=&+1,$%8'<1.Ï:/8%,&+&= ]DM WDQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HM Z]DNUHVLHREURWXNZDOLILNRZDQ\PPDWHULDáHP VLHZQ\P ]DM WDQDSURZDG]HQLHG]LDáDOQR FLJRVSRGDUF]HM Z]DNUHVLH ZLDGF]HQLDXVáXJPHG\F]Q\FK ]ZROQLRQDQDSRGVWDZLH8FKZDá\5DG\0LHMVNLHM Z6NDZLQLH &, &,1)250$&-$235=('0,27$&+=:2/1,21<&+ SRGDüSRZLHU]FKQL E G ZDUWR üexgrzolsu]hgplrwyz]zroqlrq\fkrjyáhp P P P

''$1(6=&=(*Ïà2:('27<&= &(%8'<1.Ï:Zá F]QLH]H]ZROQLRQ\PL 8ZDJDÄ:\ND]XMHVL RGU EQLHGODND GHMQLHUXFKRPR FL /S $GUHV\SRáR HQLDSU]HGPLRWyZRSRGDWNRZDQLD 1U']LDáNL.VL JDZLHF]\VWD G]LDáNL.VL JDZLHF]\VWD EXG\QNXORNDOX ('$1(6=&(*Ïà2:('27<&= &('=,$à(.zá F]QLH]H]ZROQLRQ\PL 8ZDJDÄ:\ND]XMHVL RGU EQLHGODND GHMG]LDáNL /S 1UG]LDáNL 1U.VL JL :LHF]\VWHM.ODVDJUXQWX 3RZLHU]FKQLDJUXQWX RJyáHP )2 :,$'&=(1,(,32'3,66.à$'$- &(*2262%<5(35(=(178- &(- 6.à$'$- &(*2 3RZLHU]FKQLD JUXQWX ]GRNáDGQR FL GRP 2 ZLDGF]DP HSRGDQHSU]H]HPQLHGDQHV ]JRGQH]SUDZG :\UD DP ]JRG QD Z\GDQLH GHF\]ML XVWDODM FHM Z\VRNR ü ]RERZL ]DQLD SRGDWNRZHJR Z RSDUFLX R SU]HGáR RQ\ Z\ND] QLHUXFKRPR FL $UW 2UG\QDFML SRGDWNRZHM ']8 ] 1U SR]]H]PLDQDPL 3RGDWQLNNWyU\XFK\ODM FVL RGRSRGDWNRZDQLDQLHXMDZQLDZáD FLZHPXRUJDQRZLSU]HGPLRWXOXE SRGVWDZ\ RSRGDWNRZDQLD OXE QLH VNáDGD LQIRUPDFML SRGOHJD NDU]H JU]\ZQ\ GR VWDZHN G]LHQQ\FK DOER NDU]H SR]EDZLHQLD ZROQR FL GR ODW WU]HFK DOER REX W\P NDURP á F]QLH DUW DUW XVWDZ\±.RGHNVNDUQ\VNDUERZ\']8]U1USR]]Sy Q]P,PL L1D]ZLVNR 'DWDZ\SHáQLHQLD G]LH PLHVL FURN 3RGSLVSLHF] üvnádgdm FHJRRVRE\UHSUH]HQWXM FHM VNáDGDM FHJR

:\SHãQLDSRGDWQLN 1,3 3LHF]àÞQDJãÍZNRZDSRGDWQLND 5(*21 1UNRQWDEDQNRZHJRSRGDWQLND '(./$5$&-$ ZVSUDZLHSRGDWNXRGQLHUXFKRPRçFL]DURNPF 2VRE\SUDZQHVSÍãNLLMHGQRVWNLRUJDQL]DF\MQHQLHSRVLDGDMÜFH RVRERZRçFLSUDZQHM :\V]F]HJÍOQLHQLH 3RGVWDZD RSRGDWNRZDQLD 6WDZND SRGDWNX.ZRWDSRGDWNX 2GEXG\QNÍZPLHV]NDOQ\FKOXELFKF]àçFL 3RZLHU]FKQLD PŒ 2GEXG\QNÍZOXELFKF]àçFL]ZLÜ]DQ\FK] SURZDG]RQÜG]LDãDOQRçFLÜJRVSRGDUF]ÜRUD]RG EXG\QNÍZPLHV]NDOQ\FKOXELFKF]àçFL]DMàW\FKQD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HM 3RZLHU]FKQLD PŒ 2GEXG\QNÍZZ\NRU]\VW\ZDQ\FKGRREURWX NZDOLILNRZDQ\PPDWHULDãHPVLHZQ\P 3RZLHU]FKQLD PŒ 2GSR]RVWDã\FKEXG\QNÍZOXELFKF]àçFLZW\P ]DMàW\FKQDSURZDG]HQLHRGSãDWQHMVWDWXWRZHM G]LDãDOQRçFLSRë\WNXSXEOLF]QHJRSU]H]RUJDQL]DFMH SRë\WNXSXEOLF]QHJR 3RZLHU]FKQLD PŒ 2GEXG\QNÍZ]DMàW\FKQDSURZDG]HQLHG]LDãJRVS Z]DNUHVLHXG]LHODQLDçZLDGF]Hå]GURZRWQ\FK 3RZLHU]FKQLD PŒ 2GEXG\QNÍZ]DMàW\FKQDSURZDG]HQLHG]LDãJRVS Z]DNUHVLHXVãXJZHWHU\QDU\MQ\FK 3RZLHU]FKQLD PŒ 2GEXGRZOLOXELFKF]àçFLZ\NRU]\VW\ZDQ\FK EH]SRçUHGQLRGRRGSURZDG]DQLDLRF]\V]F]DQLD çflhnízrud]uxurflüjízsu]hv\ãrz\fkzrg\ :DUWRçÞ ]ã 2GEXGRZOLOXELFKF]àçFL]ZLÜ]DQ\FK]SURZDG]RQÜ G]LDãDOQRçFLÜJRVSRGDUF]Ü :DUWRçÞ ]ã 2GJUXQWÍZ]ZLÜ]DQ\FK]SURZDG]RQDG]LDãDOQRçFLÜ JRVSRGDUF]ÜEH]Z]JOàGXQDVSRVÍE]DNZDOLILNRZDQLD ZHZLGHQFMLJUXQWÍZLEXG\QNÍZ 3RZLHU]FKQLD PŒ 2GJUXQWÍZSRGMH]LRUDPL]DMàW\FKQD]ELRUQLNL ZRGQHUHWHQF\MQHOXEHOHNWURZQLZRGQ\FK 3RZLHU]FKQLD KD 2GJUXQWÍZSR]RVWDã\FKZW\P]DMàWHQD SURZDG]HQLHRGSãDWQHMVWDWXWRZHMG]LDãDOQRçFLSRë\WNX SXEOLF]QHJRSU]H]RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 3RZLHU]FKQLD PŒ 5$=(0 1DSRGVWDZLHDUWDXVWDZ\]GQLDF]HUZFDURSRVWàSRZDQLXHJ]HNXF\MQ\PZDGPLQLVWUDFML ']8=U1USR]]SÍëQ]PGHNODUDFMDQLQLHMV]DVWDQRZLSRGVWDZàGRZ\VWDZLHQLD W\WXãXZ\NRQDZF]HJR QD]ZLVNRLLPLàRVRE\RGSRZLHG]LDOQHMNLHURZQLNMHGQRVWNLSRGSLVNVLàJRZHJ R ]DSUDZLGãRZHREOLF]HQLHSRGDWNXQUWHOHIRQX

:\SHãQLD8U]ÜG :Z\QLNXNRQWUROLZVWàSQHMSU]\SDGD 'RSU]\SLVX]ã 'RRGSLVX]ã :SURZDG]RQRSRSUDZNL SU]\SLV\REMàWRGHF\]MD1U]GQLD RGSLV\r]DZLDGRPLRQRSLVPHP1U]GQLD GDWDSRGSLVVSUDZG]DMÜFHJR $GQRWDFMHNVLàJRZRçFL 3RXF]HQLH 2VRE\SUDZQHRUD]MHGQRVWNLRUJDQL]DF\MQHQLHPDMÜFHRVRERZRçFLSUDZQHMVÜ]RERZLÜ]DQH 6NãDGDÞ RUJDQRZL JPLQ\ ZãDçFLZHPX ]H Z]JOàGX QD PLHMVFH SRãRëHQLD QLHUXFKRPRçFL GHNODUDFMH QD SRGDWHNRGQLHUXFKRPRçFLQDGDQ\URNSRGDWNRZ\VSRU]ÜG]RQHQDIRUPXODU]XZHGãXJXVWDORQHJRZ]RUX GRGQLDVW\F]QLDWHJRURNXDMHëHOLRERZLÜ]HNSRGDWNRZ\SRZVWDãSRW\PGQLXrZWHUPLQLHGQLRG GQLD Z\VWÜSLHQLD RNROLF]QRçFL X]DVDGQLDMÜFHM SRZVWDQLH WHJR RERZLÜ]NX Z UD]LH ]DLVWQLHQLD ]PLDQ VNRU\JRZDÞRGSRZLHGQLRGHNODUDFMàZWHUPLQLHGQLRGGQLD]DLVWQLHQLDW\FK]PLDQ :SãDFDÞ REOLF]RQ\ Z GHNODUDFML SRGDWHN RG QLHUXFKRPRçFL r EH] ZH]ZDQLD r QD UDFKXQHN EXGëHWX ZãDçFLZHM*PLQ\]DSRV]F]HJÍOQHPLHVLÜFHZWHUPLQLHGRGQLDNDëGHJRPLHVLÜFD

Z]ã /S 52'=$-,'2386=&=$/1$0$6$&$â.2:,7$ '0&32-$='86$02&+2'2:(*2 67$:.,32'$7.81$7(5(1,( *0,1<6.$:,1$RGSRMD]GXQD U 6DPRFKÍGFLàëDURZ\R'0&RGWRQGRWRQ ZãÜF]QLH 6DPRFKÍGFLàëDURZ\R'0&SRZ\ëHMWRQGR WRQZãÜF]QLH 6DPRFKÍGFLàëDURZ\R'0&SRZ\ëHMWRQ LSRQLëHMWRQ &LÜJQLNVLRGãRZ\LEDODVWRZ\R'0&]HVSRãX SRMD]GÍZRGWRQLSRQLëHMWRQ 3U]\F]HSDLQDF]HSDR'0&]HVSRãXSRMD]GÍZRG WRQLSRQLëHMWRQ $XWREXV\]OLF]EÜPLHMVFGRVLHG]HQLDPQLHMV]ÜQLë $XWREXV\]OLF]EÜPLHMVFGRVLHG]HQLDUÍZQÜ LZ\ëV]ÜQLë

Z]ã /S :<6=&=(* /1,(1,( /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD'0& 67$:.,32'$7.81$U 1$7(5(1,(*0,1<6.$:,1$ 2'SRMD]GX =DZLHV]HQLHRVL SQHXPDW\F]QHL X]QDQH]D UÍZQRZDëQH,QQHV\VWHP\ ]DZLHV]HQLDRVL 6DPRFKÍGFLàëDURZ\RRVLDFKR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLZLàFHM 6DPRFKÍGFLàëDURZ\RRVLDFKR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQ\LPQLHMQLëWRQ QLHPQLHMQLëWRQLZLàFHM 6DPRFKÍGFLàëDURZ\RRVLDFKLZLàFHMR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQLZLàFHM /S :<6=&=(* /1,(1,( /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD'0& ]HVSRãXSRMD]GÍZFLÜJQLNVLRGãRZ\QDF]HSD FLÜJQLNEDODVWRZ\SU]\F]HSD Z]ã 67$:.,32'$7.81$U 1$7(5(1,(*0,1<6.$:,1$ 2'SRMD]GX =DZLHV]HQLHRVL SQHXPDW\F]QH LX]QDQH]D UÍZQRZDëQH,QQHV\VWHP\ ]DZLHV]HQLDRVL &LÜJQLNVLRGãRZ\OXEEDODVWRZ\RRVLDFKL'0&]HVSRãXSRMD]GÍZ FLÜJQLNVLRGãRZ\QDF]HSDFLÜJQLNVLRGãRZ\SU]\F]HSD QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQ &LÜJQLNVLRGãRZ\OXEEDODVWRZ\RRVLDFKL'0&]HVSRãXSRMD]GÍZ FLÜJQLNVLRGãRZ\QDF]HSDFLÜJQLNVLRGãRZ\SU]\F]HSD QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQLZLàFHM

/S :<6=&=(* /1,(1,( /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD'0&]HVSRãX SRMD]GÍZQDF]HSDSU]\F]HSDSRMD]GVLOQLNRZ\ Z]ã 67$:.,32'$7.81$U 1$7(5(1,(*0,1<6.$:,1$ RGSRMD]GX =DZLHV]HQLHRVL SQHXPDW\F]QH LX]QDQH]D UÍZQRZDëQH,QQHV\VWHP\ ]DZLHV]HQLDRVL 3U]\F]HS\LQDF]HS\RMHGQHMRVLL'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQ 3U]\F]HS\LQDF]HS\RGZÍFKRVLDFKL'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLSRZ\ëHM 3U]\F]HS\LQDF]HS\RWU]HFKRVLDFKL'0& QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLSRZ\ëHM Z]ã 67$:.,32'$7.81$7(5(1,( 52'=$-,'2386=&=$/1$0$6$&$â.2:,7$ /S *0,1<6.$:,1$RGSRMD]GX '0&32-$='86$02&+2'2:(*2 QDU 6DPRFKÍGFLàëDURZ\R'0&RGWRQGRWRQ ZãÜF]QLH 6DPRFKÍGFLàëDURZ\R'0&SRZ\ëHMWRQGR WRQZãÜF]QLH 6DPRFKÍGFLàëDURZ\R'0&SRZ\ëHMWRQL SRQLëHMWRQ &LÜJQLNVLRGãRZ\LEDODVWRZ\R'0&]HVSRãX SRMD]GÍZRGWRQLSRQLëHMWRQ

/S :<6=&=(* /1,(1,( /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD'0& Z]ã 67$:.,32'$7.81$U 1$7(5(1,(*0,1<6.$:,1$ 2'SRMD]GX =DZLHV]HQLHRVLSQHXPDW\F]QH LX]QDQH]DUÍZQRZDëQH,QQHV\VWHP\]DZLHV]HQLDRVL 6DPRFKÍGFLàëDURZ\RRVLDFKR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLZLàFHM 6DPRFKÍGFLàëDURZ\RRVLDFKR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQ\LPQLHMQLëWRQ QLHPQLHMQLëWRQLZLàFHM 6DPRFKÍGFLàëDURZ\RRVLDFKLZLàFHMR'0& QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ /S Z]ã 67$:.,32'$7.81$U 1$7(5(1,(6.$:,1$*0,1< :<6=&=(* /1,(1,( 2'SRMD]GX /LF]EDRVLLGRSXV]F]DOQDPDVDFDãNRZLWD'0& ]HVSRãXSRMD]GÍZFLÜJQLNVLRGãRZ\QDF]HSD FLÜJQLNEDODVWRZ\SU]\F]HSD =DZLHV]HQLHRVLSQHXPDW\F]QHLX]QDQH ]DUÍZQRZDëQH,QQHV\VWHP\]DZLHV]HQLDRVL &LÜJQLNVLRGãRZ\OXEEDODVWRZ\RRVLDFKL'0&]HVSRãXSRMD]GÍZ FLÜJQLNVLRGãRZ\QDF]HSDFLÜJQLNVLRGãRZ\SU]\F]HSD QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLPQLHMQLëWRQ QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQ &LÜJQLNVLRGãRZ\OXEEDODVWRZ\RRVLDFKL'0&]HVSRãXSRMD]GÍZ FLÜJQLNVLRGãRZ\QDF]HSDFLÜJQLNVLRGãRZ\SU]\F]HSD QLHPQLHMQLëWRQLGRWRQZãÜF]QLH SRZ\ëHMWRQLPQLHMQLëWRQ\ QLHPQLHMQLëWRQLZLàFHM

.ODV\Xë\WNÍZZ\QLNDMÜFH ]HZLGHQFMLJUXQWÍZ LEXG\QNÍZ *UXQW\RUQH,,,,,,D,,,E,9D,9E 9 9, 9,] 8ë\WNL]LHORQH,,,,,,,9 9 9, 9,] *UXQW\SRGVWDZDPL D]DU\ELRQHãRVRVLHP WURFLÜJãRZDFLFÜSDOLÜ LSVWUÜJLHP E]DU\ELRQHLQQ\PL JDWXQNDPLU\EQLë ZSR]D FJUXQW\SRGVWDZDPL QLH]DU\ELRQ\PL 5RZ\ *UXQW\]DGU]HZLRQH L]DNU]DF]RQHSRãRëRQHQD Xë\WNDFKUROQ\FK,,,,,,D,,,,,,E,9D,9 9 9, 9,] 5D]HP 3RZLHU]FKQLDJUXQWXZKHNWDUDFKIL]\F]Q\FK :\ND]XMHP\]GRNãDGQRçFLÜGRP

3U]HGPLRW RSRGDWNRZDQLD 3RZLHU]FK QLDXë\WNÍZ UROQ\FK ZKD IL]\F]Q\FK 3RZLHU]FK QLDXë\WNÍZ UROQ\FK ZKD SU]HOLF]H QLRZ\FK 6WDZND SRGDWNX.ZRWD SRGDWNX SU]HG ]DVWRVR ZDQLHP XOJL 8OJLZSRGDWNXUROQ\P JÍUVNLH LQQH È È.ZRWD SRGDWNX SR]DVWR VRZDQLX XOJ 8ë\WNLUROQHJUXQW\ RUQHVDG\ãÜNL SDVWZLVNDJUXQW\ UROQH]DEXGRZDQH JUXQW\SRGVWDZDPL URZ\]Z\MÜWNLHP JUXQWÍZ]DMàW\FKQD SURZDG]HQLH G]LDãDOQRçFL JRVSRGDUF]HMLQQHM QLëG]LDãDOQRçÞ UROQLF]D 5D]HP

:\V]F]HJÍOQLHQLH 2VRE\SUDZQHLMHGQRVWNLRUJDQL]DF\MQHRUD]VSÍãNL QLHPDMÜFHRVRERZRçFLSUDZQHM 3RGVWDZD RSRGDWNRZDQLD 6WDZND SRGDWNX.ZRWDSRGDWNX]ã 2G SRZLHU]FKQL JUXQWÍZ ]ZLÜ]DQ\FK ] SURZDG]HQLHP 3RZLHU]FKQLD G]LDãDOQRçFL JRVSRGDUF]HM EH] Z]JOàGX QD VSRVÍE eep ]DNZDOLILNRZDQLDZHZLGHQFMLJUXQWÍZLEXG\QNÍZ 2G SRZLHU]FKQL JUXQWÍZ SRG MH]LRUDPL ]DMàW\FK QD 3RZLHU]FKQLD ]ELRUQLNLZRGQHUHWHQF\MQHOXEHOHNWURZQLZRGQ\FK 2G SRZLHU]FKQL JUXQWÍZ SR]RVWDã\FK Z W\P ]DMàW\FK QD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJRSU]H]RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 2GSRZLHU]FKQLEXG\QNÍZPLHV]DOQ\FKOXELFKF]àçFL 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]ZLÜ]DQ\FK ] SURZDG]HQLHP G]LDãDOQRçFL JRVSRGDUF]HM RUD] RG EXG\QNÍZ PLHV]NDOQ\FK OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HM 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HMZ]DNUHVLHREURWX NZDOLILNRZDQ\PPDWHULDãHPVLHZQ\P 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLH G]LDãDOQRçFL JRVSRGDUF]HM Z ]DNUHVLH XG]LHODQLDçZLDGF]Hå]GURZRWQ\FK 2G SRZLHU]FKQL Xë\WNRZHM EXG\QNÍZ JRVSRGDUF]\FK QDOHëÜF\FK GR RVÍE IL]\F]Q\FK QLH SRVLDGDMÜF\FK JRVSRGDUVWZD UROQHJR QLH ]ZLÜ]DQ\FK ] G]LDãDOQRçFLÜ JRVSRGDUF]Ü 2GSRZLHU]FKQLXë\WNRZHMSR]RVWDã\FKEXG\QNÍZOXELFK F]àçFL Z W\P ]DMàW\FK QD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJR SU]H] RUJDQL]DFMHSRë\WNXSXEOLF]QHJR KD 3RZLHU]FKQLD P 3RZLHU]FKQLD P 3RZLHU]FKQLD P 3RZLHU]FKQLD P 3RZLHU]FKQLD P 3RZLHU]FKQLD P 3RZLHU]FKQLD P 2G ZDUWRçFL EXGRZOL OXE LFK F]àçFL ]ZLÜ]DQ\FK :DUWRçÞ ]SURZDG]HQLHPG]LDãDOQRçFLJRVSRGDUF]HM ]ã 5$=(0

:\V]F]HJÍOQLHQLH 2G SRZLHU]FKQL JUXQWÍZ ]ZLÜ]DQ\FK ] SURZDG]HQLHP G]LDãDOQRçFL JRVSRGDUF]HM EH] Z]JOàGX QD VSRVÍE ]DNZDOLILNRZDQLDZHZLGHQFMLJUXQWÍZLEXG\QNÍZ 2G SRZLHU]FKQL JUXQWÍZ SRG MH]LRUDPL ]DMàW\FK QD ]ELRUQLNLZRGQHUHWHQF\MQHOXEHOHNWURZQLZRGQ\FK 2G SRZLHU]FKQL JUXQWÍZ SR]RVWDã\FK Z W\P ]DMàW\FK QD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJRSU]H]RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 2GSRZLHU]FKQLEXG\QNÍZPLHV]DOQ\FKOXELFKF]àçFL 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]ZLÜ]DQ\FK ] SURZDG]HQLHP G]LDãDOQRçFL JRVSRGDUF]HM RUD] RG EXG\QNÍZ PLHV]NDOQ\FK OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HM 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HMZ]DNUHVLHREURWX NZDOLILNRZDQ\PPDWHULDãHPVLHZQ\P 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLH G]LDãDOQRçFL JRVSRGDUF]HM Z ]DNUHVLH XG]LHODQLDçZLDGF]Hå]GURZRWQ\FK 2G SRZLHU]FKQL Xë\WNRZHM EXG\QNÍZ JRVSRGDUF]\FK QDOHëÜF\FK GR RVÍE IL]\F]Q\FK QLH SRVLDGDMÜF\FK JRVSRGDUVWZD UROQHJR QLH ]ZLÜ]DQ\FK ] G]LDãDOQRçFLÜ JRVSRGDUF]Ü 2GSRZLHU]FKQLXë\WNRZHMSR]RVWDã\FKEXG\QNÍZOXELFK F]àçFL Z W\P ]DMàW\FK QD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJR SU]H] RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 2VRE\SUDZQHLMHGQRVWNLRUJDQL]DF\MQHRUD] VSÍãNLQLHPDMÜFHRVRERZRçFLSUDZQHM 3RGVWDZD RSRGDWNRZDQLD SRZLHU]FKQLD P SRZLHU]FKQLD KD SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P 6WDZND.ZRWDSRGDWNX]ã SRGDWNX 2G ZDUWRçFL EXGRZOL OXE LFK F]àçFL ]ZLÜ]DQ\FK ZDUWRçÞ ]SURZDG]HQLHPG]LDãDOQRçFLJRVSRGDUF]HM ]ã 5$=(0

:\V]F]HJÍOQLHQLH 2G SRZLHU]FKQL JUXQWÍZ ]ZLÜ]DQ\FK ] SURZDG]HQLHP G]LDãDOQRçFL JRVSRGDUF]HM EH] Z]JOàGX QD VSRVÍE ]DNZDOLILNRZDQLDZHZLGHQFMLJUXQWÍZLEXG\QNÍZ 2G SRZLHU]FKQL JUXQWÍZ SRG MH]LRUDPL ]DMàW\FK QD ]ELRUQLNLZRGQHUHWHQF\MQHOXEHOHNWURZQLZRGQ\FK 2GSRZLHU]FKQLJUXQWÍZSR]RVWDã\FKZW\P]DMàW\FKQD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJRSU]H]RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 2GSRZLHU]FKQLEXG\QNÍZPLHV]DOQ\FKOXELFKF]àçFL 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]ZLÜ]DQ\FK ] SURZDG]HQLHP G]LDãDOQRçFL JRVSRGDUF]HM RUD] RG EXG\QNÍZ PLHV]NDOQ\FK OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HM 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLHG]LDãDOQRçFLJRVSRGDUF]HMZ]DNUHVLHREURWX NZDOLILNRZDQ\PPDWHULDãHPVLHZQ\P 2G SRZLHU]FKQL EXG\QNÍZ OXE LFK F]àçFL ]DMàW\FK QD SURZDG]HQLH G]LDãDOQRçFL JRVSRGDUF]HM Z ]DNUHVLH XG]LHODQLDçZLDGF]Hå]GURZRWQ\FK 2G SRZLHU]FKQL Xë\WNRZHM EXG\QNÍZ JRVSRGDUF]\FK QDOHëÜF\FK GR RVÍE IL]\F]Q\FK QLH SRVLDGDMÜF\FK JRVSRGDUVWZD UROQHJR QLH ]ZLÜ]DQ\FK ] G]LDãDOQRçFLÜ JRVSRGDUF]Ü 2GSRZLHU]FKQLXë\WNRZHMSR]RVWDã\FKEXG\QNÍZOXELFK F]àçFL Z W\P ]DMàW\FK QD SURZDG]HQLH RGSãDWQHM VWDWXWRZHM G]LDãDOQRçFL SRë\WNX SXEOLF]QHJR SU]H] RUJDQL]DFMHSRë\WNXSXEOLF]QHJR 2VRE\SUDZQHLMHGQRVWNLRUJDQL]DF\MQHRUD]VSÍãNL QLHPDMÜFHRVRERZRçFLSUDZQHM 3RGVWDZD RSRGDWNRZDQLD SRZLHU]FKQLD P SRZLHU]FKQLD KD SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P SRZLHU]FKQLD P 2GZDUWRçFLEXGRZOLOXELFKF]àçFL]ZLÜ]DQ\FK ZDUWRçÞ ]SURZDG]HQLHPG]LDãDOQRçFLJRVSRGDUF]HM ]ã 5$=(0 6WDZND.ZRWDSRGDWNX]ã SRGDWNX

1UG]LDãNL 2EUàE 1UNVLàJLZLHF]\VWHM 3RZLHU]FKQLDXë\WNRZD JUXQWX 3RZLHU]FKQLDXë\WNRZD SRV]F]HJÍOQ\FKEXG\QNÍZ &KDUDNWHUZãDGDQLD $GUHVQLHUXFKRPRçFL

'RSXV]F]DOQDPDVDFDãNRZLWDZWRQDFK 2GWGRWZãÜF]QLH 3RZ\ëHMWGRWZãÜF]QLH 3RZ\ëHMWLSRQLëHMW 6WDZNDSRGDWNXZ]ã 'RSXV]F]DOQDPDVDFDãNRZLWDZWRQDFK =DZLHV]HQLHRVL SQHXPDW\F]QHOXE UÍZQRU]àGQH,QQ\V\VWHP ]DZLHV]HQLDRVL 1LHPQLHMQLë 0QLHMQLë 6WDZNDSRGDWNXZ]ã RVLH W W W RVLH W W W W W RVLHLZLàFHM W W W W W 'RSXV]F]DOQDPDVDFDãNRZLWDZWRQDFK 2GWGRW 3RZ\ëHMWLSRQLëHMW 6WDZNDSRGDWNXZ]ã

'RSXV]F]DOQDPDVDFDãNRZLWDZWRQDFK =DZLHV]HQLHRVL SQHXPDW\F]QHOXE UÍZQRU]àGQH,QQ\V\VWHP]DZLHV]HQLD RVL 1LHPQLHMQLë 0QLHMQLë 6WDZNDSRGDWNXZ]ã RVLH W W W RVLH W W W 'RSXV]F]DOQDPDVDFDãNRZLWDZWRQDFK =DZLHV]HQLHRVL SQHXPDW\F]QH OXEUÍZQRU]àGQH 1LHPQLHMQLë 0QLHMQLë 6WDZNDSRGDWNXZ]ã,QQ\V\VWHP ]DZLHV]HQLDRVL Rç W W W 1LHPQLHMQLë 0QLHMQLë 6WDZNDSRGDWNXZ]ã RVLH W W W W W RVLH W W W /LF]EDPLHMVFVLHG]ÜF\FKãÜF]QLH] PLHMVFHPNLHURZF\ 'RU 'DWDSURGXNFML 2GU 6WDZNDSRGDWNXZ]ã 'R 2GGR OXEZLàFHM