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FGNGXCPVCT'UV±VGTOKPCPVGOGPVGRTQJKDKFQSWGFCTUGQRCUCTGPNC\QPCFGTKGUIQRQTFGDCLQFG
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CDKGTVQ[DNQSWGCFQCPVGUFGTGCNK\CTEWCNSWKGTOCPVGPKOKGPVQQTGRCTCEKÉP2CTCOC[QTUGIWTKFCF
NCURGTUQPCUSWGCEEKQPCPGSWKRQURQTEQPVTQNTGOQVQFGDGPVQOCTNCURTGECWEKQPGUCFGEWCFCU
RCTCCUGIWTCTUGFGSWGPCFKGGUV¾XGTKHKECPFQNCO±SWKPCQVTCDCLCPFQGPGNNC#GUVGHKPUG
EQNQECT±WPCXKUQCFXKTVKGPFQSWGGNGSWKRQGPEWGUVKÉPCTTCPECRQTEQPVTQNTGOQVQ
CFKUVCPEKC
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CFGEWCFQFGCKTGFGTGHTKIGTCEKÉP[SWGGNCKTGFGGUECRGPQTGEKTEWNGCNCGPVTCFC
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TGCNK\CTUGCVKGTTC[RTQVGIGTUGFGEQTVQEKTEWKVQURQTOGFKQFGHWUKDNGUGPVQFCUNCUHCUGU&GDG
KPUVCNCTUGWPKPVGTTWRVQTUGRCTCFQTFGGPGTIÃCGN¾EVTKECEQPEKGTTGEGTECFGNEQORTGUQT
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X±NXWNCUFGTGVGPEKÉPRCTCCKUNCT
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OQPVCFQUGPNCO±SWKPC%CFCTGEKRKGPVGCRTGUKÉPQFKURQUKVKXQCWZKNKCTKPUVCNCFQHWGTCFGNC
O±SWKPCSWGXC[CCEQPVGPGTCKTGCRTGUKÉPUWRGTKQTCNCCVOQUH¾TKECUGRTQVGIGT±EQPWP
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NQECNGU
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WPCOCPIWGTCQVWDGTÃCCUGIÐTGUGFGSWGUGUWLGVCHKTOGOGPVGGNGZVTGOQCDKGTVQ7PGZVTGOQ
NKDTGIQNRGCT±EQOQWPN±VKIQ[RQFT±ECWUCTNGUKQPGU#UGIÐTGUGFGSWGNCUOCPIWGTCUGUV±P
EQORNGVCOGPVGFGURTGUWTK\CFCUCPVGUFGFGUEQPGEVCTNCU
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CFKUVCPEKC
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RWGTVC
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Ő 6QFCUNCUOCPIWGTCU[QVWDGTÃCUFGPVTQFGNITWRQUGGPEWGPVTCPGPDWGPCUEQPFKEKQPGUDKGP
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Ő .CUX±NXWNCUFGUGIWTKFCF[NQUQVTQUFKURQUKVKXQUFGGXCEWCEKÉPFGRTGUKÉPPQGUV±PCVCUECFQU
RQTGUECOCUQRKPVWTC
Ő .CX±NXWNCFGUCNKFC[TGFFGCKTGGUFGEKTVWDQUCEQRNCOKGPVQUEQNGEVQTGUX±NXWNCU
OCPIWGTCUGVEUGGPEWGPVTCPGPDWGPGUVCFQUKPFGUICUVGUCPQTOCNGU[VTCVCFQU
CFGEWCFCOGPVG
5KUGWUCGNCKTGFGTGHTKIGTCEKÉPECNKGPVGFGEQORTGUQTGUGPWPUKUVGOCFGECNGHCEEKÉPRQTCKTG
RGLRCTCECNGPVCTWPVCNNGTJC[SWGVQOCTRTGECWEKQPGUEQPVTCNCRQNWEKÉP[EQPVCOKPCEKÉP
GXGPVWCNFGNCKTGTGURKTCDNG
0QSWKVGPKPIWPCRCTVGFGNOCVGTKCNKPUQPQTK\CPVGPKNQECODKGFGUKVKQ
0WPECCPWNGPKOCPKRWNGNQUFKURQUKVKXQUFGUGIWTKFCFPKNCURTQVGEEKQPGUQNQUCKUNCOKGPVQU
OQPVCFQUGPNCO±SWKPC%CFCFGRÉUKVQCRTGUKÉPQFKURQUKVKXQCWZKNKCTKPUVCNCFQHWGTCFGNC
O±SWKPCSWGXC[CCEQPVGPGTCKTGCRTGUKÉPUWRGTKQTCNCCVOQUH¾TKECUGRTQVGIGT±EQPWP
FKURQUKVKXQQFKURQUKVKXQURCTCGXCEWCTFKEJCRTGUKÉPUKGUVQHWGTCPGEGUCTKQ
%QPUWNVGVCODK¾PNCURTGECWEKQPGUFGUGIWTKFCFUKIWKGPVGU2TGECWEKQPGUFGUGIWTKFCF
FWTCPVGKPUVCNCEKÉP[2TGECWEKQPGUFGUGIWTKFCFFWTCPVGOCPVGPKOKGPVQ
.CURTGUGPVGURTGECWEKQPGUUQPX±NKFCURCTCO±SWKPCUSWGVTCVGPQEQPUWOCPCKTGQ
ICUKPGTVG'NVTCVCOKGPVQFGQVTQUGURGEKGUFGICUGZKIGRTGECWEKQPGUCFKEKQPCNGU
RTQRKCUFGNCCRNKECEKÉPSWGPQHKIWTCPGPGNVGZVQCNRKG
#NIWPCURTGECWEKQPGUUQPFGECT±EVGTIGPGTCN[UQPX±NKFCURCTCXCTKQUVKRQUFG
O±SWKPCU[GSWKRQURQTEQPUKIWKGPVGRWGFGSWGCNIWPCUKPFKECEKQPGUPQTGUWNVGP
UKGORTGCRNKECDNGUCNCO±SWKPC
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2TGECWEKQPGUFGUGIWTKFCFFWTCPVGOCPVGPKOKGPVQQ
TGRCTCEKQPGU
'NHCDTKECPVGFGENKPCVQFCTGURQPUCDKNKFCFRQTEWCNSWKGTFCÇQQNGUKÉP
TGUWNVCPVGFGNPQEWORNKOKGPVQFGGUVCURTGECWEKQPGUQFGNCPQ
QDUGTXCEKÉPFGNCRTGECWEKÉPJCDKVWCN[GNFGDKFQEWKFCFQGPNCKPUVCNCEKÉP
OCPGLQOCPVGPKOKGPVQQTGRCTCEKÉPCWPSWGPQUGJC[COGPEKQPCFQ
GZRTGUCOGPVG
2TGECWEKQPGUIGPGTCNGU
'NQRGTCTKQFGDGNNGXCTCNCRT±EVKECNCUPQTOCUFGUGIWTKFCFKPFKECFCURCTCGUVGVTCDCLQ[QDUGTXCT
VQFCUNCUQTFGPCP\CU[TGSWGTKOKGPVQUNQECNGUGUVCDNGEKFQUGPOCVGTKCFGUGIWTKFCF
5KEWCNSWKGTKPFKECEKÉPFGNCUSWGUGEKVCPCEQPVKPWCEKÉPPQEWORNKGTCEQPNCNGIKUNCEKÉPNQECNUG
CRNKECT±NCO±UGUVTKEVC
.CKPUVCNCEKÉPHWPEKQPCOKGPVQOCPVGPKOKGPVQ[TGRCTCEKQPGUUÉNQUGNNGXCT±PCECDQRQTRGTUQPCN
CWVQTK\CFQ[EQORGVGPVG
0QUGEQPUKFGTCCNEQORTGUQTECRC\FGUWOKPKUVTCTCKTGTGURKTCDNG2CTCQDVGPGTCKTGTGURKTCDNGGN
CKTGEQORTKOKFQFGDGUGTRWTKHKECFQEQTTGEVCOGPVGRCTCGUVGWUQEQPHQTOGCNCUPQTOCU[NG[GU
NQECNGU
#PVGUFGGORG\CTGNVTCDCLQFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVGQEQORTQDCEKÉPFKUVKPVCFGNC
CVGPEKÉPTWVKPCTKCRCTGGNEQORTGUQTRWNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKCFGUEQPGEVGGN
XQNVCLG[FGURTGUWTKEGGNEQORTGUQT#FGO±UUGCDTKT±[UGDNQSWGCT±GNKPVGTTWRVQTUGRCTCFQTFG
GPGTIÃCGN¾EVTKEC
0QLWGIWGPWPECEQPGNCKTGEQORTKOKFQ0QNQCRNKSWGCNCRKGNPKFKTKLCEJQTTQUFGCKTGCPKPIWPC
RGTUQPC0QWVKNKEGPWPECGNCKTGEQORTKOKFQRCTCNKORKCTUGNCTQRC#NWUCTNQRCTCNKORKCTGNGSWKRQ
J±ICNQEQPOWEJQEWKFCFQ[RTQV¾LCUGNQUQLQU
2TGECWEKQPGUFGUGIWTKFCFFWTCPVGOCPVGPKOKGPVQQTGRCTCEKQPGU
2ÉPICUGUKGORTGWPCUICHCUFGUGIWTKFCF
7UGUQNCOGPVGNCUJGTTCOKGPVCUCFGEWCFCUCNVTCDCLQFGOCPVGPKOKGPVQ[TGRCTCEKÉP
5ÉNQRQFT±PWVKNK\CTUGTGRWGUVQUQTKIKPCNGU
.QUVTCDCLQUFGOCPVGPKOKGPVQUGNNGXCT±PCECDQÐPKECOGPVGEWCPFQNCO±SWKPCUGJC[CGPHTKCFQ
#FGO±UGNGSWKRQFGCTTCPSWGFGDGNNGXCTWPECTVGNSWGFKICRGLUGGUV±VTCDCLCPFQPQRQPGTGP
OCTEJC
.CURGTUQPCUSWGCEEKQPCPGSWKRQURQTEQPVTQNTGOQVQFGDGPVQOCTNCURTGECWEKQPGUCFGEWCFCU
RCTCCUGIWTCTUGFGSWGPCFKGGUV¾XGTKHKECPFQNCO±SWKPCQVTCDCLCPFQGPGNNC#GUVGHKPUG
EQNQECT±WPCXKUQCFXKTVKGPFQSWGGNGSWKRQGPEWGUVKÉPCTTCPECRQTEQPVTQNTGOQVQ
CFKUVCPEKC
%KGTTGNCX±NXWNCFGUCNKFCFGCKTGCPVGUFGEQPGEVCTQFGUEQPGEVCTWPCVWDGTÃC
#PVGUFGFGUOQPVCTEWCNSWKGTEQORQPGPVGRTGUWTK\CFQCÃUNGGNITWRQFGVQFCUNCUHWGPVGUFG
RTGUKÉP[CNKXKGVQFQGNUKUVGOCFGRTGUKÉP
0WPECWUGFKUQNXGPVGUKPHNCOCDNGUPKVGVTCENQTWTQFGECTDQPQRCTCNKORKCTNCURKG\CU6QOGOGFKFCU
FGUGIWTKFCFEQPVTCXCRQTGUVÉZKEQUFGNÃSWKFQUFGNKORKG\C
'ZVTGOGNCNKORKG\CFWTCPVGNQUVTCDCLQUFGOCPVGPKOKGPVQ[TGRCTCEKÉP%WDTCNCURKG\CU[NCU
CDGTVWTCUEQPWPRCÇQNKORKQRCRGNQEKPVCCFJGUKXCGXKVCPFQCUÃSWGRGPGVTGRQNXQ
/CPWCNFGKPUVTWEEKQPGU
0WPECUWGNFGPKNNGXGCECDQPKPIWPCQRGTCEKÉPSWGKORNKSWGGNWUQFGECNQTEGTECFGNUKUVGOCFG
CEGKVG.QUVCPSWGUFGCEGKVGFGDGPRWTICTUGEQORNGVCOGPVGEQPXCRQTRQTGLGORNQCPVGUFG
GHGEVWCTVCNGUQRGTCEKQPGU0QUWGNFGPKOQFKHKSWGPWPECTGEKRKGPVGUCRTGUKÉP
#NCOGPQTUGÇCNQUQURGEJCFGUQDTGECNGPVCOKGPVQFGWPCRCTVGKPVGTPCFGWPCO±SWKPCFGDG
RCTCTUG¾UVC[PQCDTKTPKPIWPCVCRCFGKPURGEEKÉPJCUVCWPCXG\VTCPUEWTTKFQDCUVCPVGVKGORQFG
GPHTKCOKGPVQCHKPFGGXKVCTGNTKGUIQFGKIPKEKÉPGURQPV±PGCFGNXCRQTFGCEGKVGCNGPVTCTGP
EQPVCEVQEQPGNCKTG
0WPECWVKNKEGWPCHWGPVGFGKNWOKPCEKÉPEQPNNCOCNKDTGRCTCKPURGEEKQPCTGNKPVGTKQTFGWPCO±SWKPC
TGEKRKGPVGCRTGUKÉPGVE
#UGIÐTGUGFGSWGPQJCPSWGFCFQJGTTCOKGPVCURKG\CUUWGNVCUQVTCRQUFGPVTQQGPEKOCFGNC
O±SWKPC
6QFQUNQUFKURQUKVKXQUTGIWNCFQTGU[FGUGIWTKFCFFGDGPOCPVGPGTUGEQPGNFGDKFQEWKFCFQRCTC
ICTCPVK\CTSWGHWPEKQPCPEQTTGEVCOGPVG'UV±RTQJKDKFQCRCICTGUVQUFKURQUKVKXQU
#PVGUFGFGLCTNCO±SWKPCNKUVCRCTCWUQFGURW¾UFGNOCPVGPKOKGPVQQTGXKUKÉPEQORTWGDGSWGNCU
RTGUKQPGU[VGORGTCVWTCUFGHWPEKQPCOKGPVQ[NQUCLWUVGUFGVKGORQUQPEQTTGEVQU%QORTWGDGSWG
NQUFKURQUKVKXQUFGEQPVTQN[RCTCFCGUV±PKPUVCNCFQU[HWPEKQPCPEQTTGEVCOGPVG5KUGJCSWKVCFQGN
IWCTFCCEQRNCOKGPVQFGNGLGFGCEEKQPCOKGPVQFGNEQORTGUQTEQORTWGDGSWGGUV±TGKPUVCNCFQ
'ZCOKPGGNVWDQFGKORWNUKÉP[GNKPVGTKQTFGNFGRÉUKVQUGRCTCFQTFGCEGKVGECFCXG\SWGUGECODKG
GNGNGOGPVQUGRCTCFQTRCTCXGTUKGZKUVGPTGEKRKGPVGUUGRCTCFQTGUFGCEGKVGRCTCFGRÉUKVQUFG
ECTDÉP5KUQPGZEGUKXQUFGDGPTGVKTCTUG
2TQVGLCGNOQVQTGNHKNVTQFGCKTGNQUEQORQPGPVGUGN¾EVTKEQU[TGIWNCFQTGUGVEFGNCGPVTCFCFG
JWOGFCFRGLFWTCPVGNCNKORKG\CEQPXCRQT
#UGIÐTGUGFGSWGVQFQGNOCVGTKCNKPUQPQTK\CPVGRGLGPNCECTTQEGTÃC[NQUUKUVGOCUFGGPVTCFC[
UCNKFCFGCKTGFGNEQORTGUQTUGJCNNCGPDWGPGUVCFQ'PECUQFGFCÇQTGGORN±EGNQRQTOCVGTKCN
QTKIKPCNFGNHCDTKECPVGRCTCGXKVCTSWGCWOGPVGGNPKXGNFGRTGUKÉPFGUQPKFQ
0WPECWVKNKEGFKUQNXGPVGUE±WUVKEQUSWGRWGFCPQECUKQPCTFCÇQCNOCVGTKCNFGNCTGFFGCKTGRGLNCU
VC\CUFGRQNKECTDQPCVQ
5GJCEGJKPECRK¾GPNCUUKIWKGPVGURTGECWEKQPGUFGUGIWTKFCFCNOCPGLCTGNTGHTKIGTCPVG
Ő 0WPECCURKTGNQUXCRQTGUFGNTGHTKIGTCPVG%QORTWGDGSWGGN±TGCFGVTCDCLQGUV±XGPVKNCFC
CFGEWCFCOGPVGWVKNKEGWPCO±UECTCRTQVGEVQTCUKHWGTCPGEGUCTKQ
Ő 7UGUKGORTGIWCPVGUGURGEKCNGU'PECUQFGEQPVCEVQFGNTGHTKIGTCPVGEQPNCRKGNGPLWCIWGEQP
CDWPFCPVGCIWC'PECUQFGEQPVCEVQFGNTGHTKIGTCPVGNÃSWKFQEQPNCRKGNCVTCX¾UFGNCTQRCPQ
CTTCPSWGPKUGGZVTCKICNCRTGPFCOQLGNCTQRCCDWPFCPVGOGPVGEQPCIWCJCUVCSWGJC[C
FGUCRCTGEKFQVQFQGNTGHTKIGTCPVGCRNKSWGFGURW¾UNQURTKOGTQUCWZKNKQU
2ÉPICUGUKGORTGIWCPVGURTQVGEVQTGURCTCGNKOKPCTGNTKGUIQFGNGUKQPGUECWUCFCURQTRKG\CUFG
O±SWKPCUUQDTGECNGPVCFCURGLCNUCECTCEGKVG
%QPUWNVGVCODK¾PNCURTGECWEKQPGUFGUGIWTKFCFUKIWKGPVGU2TGECWEKQPGUFGUGIWTKFCF
FWTCPVGKPUVCNCEKÉP[2TGECWEKQPGUFGUGIWTKFCFFWTCPVGHWPEKQPCOKGPVQ
.CURTGUGPVGURTGECWEKQPGUUQPX±NKFCURCTCO±SWKPCUSWGVTCVGPQEQPUWOCPCKTGQ
ICUKPGTVG'NVTCVCOKGPVQFGQVTQUGURGEKGUFGICUGZKIGRTGECWEKQPGUCFKEKQPCNGU
RTQRKCUFGNCCRNKECEKÉPSWGPQHKIWTCPGPGNVGZVQCNRKG
#NIWPCURTGECWEKQPGUUQPFGECT±EVGTIGPGTCN[UQPX±NKFCURCTCXCTKQUVKRQUFG
O±SWKPCU[GSWKRQURQTEQPUKIWKGPVGRWGFGSWGCNIWPCUKPFKECEKQPGUPQTGUWNVGP
UKGORTGCRNKECDNGUCNCO±SWKPC
/CPWCNFGKPUVTWEEKQPGU
&GUETKREKÉPIGPGTCN
+PVTQFWEEKÉP
+PVTQFWEEKÉP
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CEEKQPCOKGPVQRQTOQVQTGN¾EVTKEQ.QUEQORTGUQTGUGUV±PTGHTKIGTCFQURQTCKTG
)#2CEM
.QU)#2CEMXCPCNQLCFQUFGPVTQFGWPCECTTQEGTÃCKPUQPQTK\CPVG.QUEQORTGUQTGUGUV±PEQPVTQNCFQU
RQTGNTGIWNCFQT'NGMVTQPKMQPs+FG#VNCU%QREQ'NOÉFWNQFGEQPVTQNGNGEVTÉPKEQGUV±KPUVCNCFQGPNC
RWGTVCRQTGNNCFQFGNCPVGTQ&GVT±UFGFKEJQRCPGNUGJCNNCWPCTOCTKQGN¾EVTKEQSWGGPEKGTTCGN
CTTCPECFQTFGNOQVQT
8KUVCFGNCPVGTCFG)#C)#2CEMOQPVCFQUQDTGUWGNQ
.QUEQORTGUQTGUOQPVCFQUUQDTGUWGNQUGKPUVCNCPFKTGEVCOGPVGGPGNUWGNQ
/CPWCNFGKPUVTWEEKQPGU
8KUVCFGNCPVGTCFG)#C)#2CEMOQPVCFQUQDTGFGRÉUKVQ
.QUOQFGNQU)#C)#OQPVCFQUUQDTGFGRÉUKVQUGKPUVCNCPUQDTGWPFGRÉUKVQFGCKTGFGITCP
ECRCEKFCF
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ICNEWHV
4GHGTGPEKC &GUKIPCEKÉP
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#4 4GEGRVQTFGCKTG
#8 8±NXWNCFGUCNKFCFGCKTG
%C 4GHTKIGTCFQTFGCKTG
%Q 4GHTKIGTCFQTFGCEGKVG
&O 2WPVQFGFTGPCLGOCPWCNFGRÉUKVQFGCKTG
'4 4GIWNCFQT'NGMVTQPKMQP+
/ /QVQTFGCEEKQPCOKGPVQ
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1( (KNVTQFGCEGKVG
15 5GRCTCFQTFGCEGKVG
16 &GRÉUKVQFGCEGKVG
5 $QVÉPFGRCTCFCFGGOGTIGPEKC
)#(WNN(GCVWTG
.QU)#(WNN(GCVWTG
((GUV±PEQPVTQNCFQURQTGNTGIWNCFQT'NGMVTQPKMQPs+FG#VNCU%QREQ#FGO±U
GUV±PFQVCFQUFGWPUGECFQTFGCKTGKPVGITCFQGPNCECTTQEGTÃCKPUQPQTK\CPVG'NUGECFQTGNKOKPCGN
EQPFGPUCFQFGNCKTGEQORTKOKFQGPHTK±PFQNQCEGTECFGNRWPVQFGEQPIGNCEKÉP[RWTICPFQ
CWVQO±VKECOGPVGGNEQPFGPUCFQ
/CPWCNFGKPUVTWEEKQPGU
8KUVCFGNCPVGTCFG)#C)#(WNN(GCVWTGOQPVCFQUQDTGUWGNQ
.QUEQORTGUQTGUOQPVCFQUUQDTGUWGNQUGKPUVCNCPFKTGEVCOGPVGGPGNUWGNQ
8KUVCFGNCPVGTCFG)#C)#(WNN(GCVWTGOQPVCFQUQDTGFGRÉUKVQ
.QUOQFGNQU)#C)#OQPVCFQUUQDTGFGRÉUKVQUGKPUVCNCPUQDTGWPFGRÉUKVQFGCKTGFGITCP
ECRCEKFCF
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ICNEWHV
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKC &GUKIPCEKÉP
#( (KNVTQFGCKTG
#4 4GEGRVQTFGCKTG
#8 8±NXWNCFGUCNKFCFGCKTG
%C 4GHTKIGTCFQTFGCKTG
%Q 4GHTKIGTCFQTFGCEGKVG
&O 2WPVQFGFTGPCLGOCPWCNFGRÉUKVQFGCKTG
&4 5GECFQT
'4 4GIWNCFQT'NGMVTQPKMQP+
/ /QVQTFGCEEKQPCOKGPVQ
1( (KNVTQFGCEGKVG
15 5GRCTCFQTFGCEGKVG
16 &GRÉUKVQFGCEGKVG
5 $QVÉPFGRCTCFCFGGOGTIGPEKC
/CPWCNFGKPUVTWEEKQPGU
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&KCITCOCUFGHNWLQ
&KCITCOCFGHNWLQ)#2CEM
/CPWCNFGKPUVTWEEKQPGU
&KCITCOCFGHNWLQ)#(WNN(GCVWTG
4GHGTGPEKC &GUETKREKÉP
# 6QOCFGCKTG
$ /G\ENCFGCKTGCEGKVG
% #EGKVG
& #KTGEQORTKOKFQJÐOGFQ
( %QPFGPUCFQ
) #KTGEQORTKOKFQUGEQ
/CPWCNFGKPUVTWEEKQPGU
&GUETKREKÉP
'NCKTGGUCURKTCFQCVTCX¾UFGNHKNVTQ
#([NCX±NXWNCFGGPVTCFCCDKGTVC
+8GPGNGNGOGPVQEQORTGUQT
'FQPFGUGEQORTKOG'NCKTGEQORTKOKFQ[GNHNWLQFGCEGKVGRCUCPCNFGRÉUKVQFGCEGKVG
16'NCKTGUG
FGUECTICCVTCX¾UFGNCX±NXWNCFGUCNKFC
#8OGFKCPVGNCX±NXWNCFGRTGUKÉPOÃPKOC
8R[GN
TGHTKIGTCFQTFGCKTG
%C
.CUWPKFCFGU2CEMKPENW[GPWPEQNGEVQTFGEQPFGPUCFQ
/6
'PNQUEQORTGUQTGU(WNN(GCVWTGGNCKTGRCUCCVTCX¾UFGNUGECFQTFGCKTG
&4CPVGUFGFGUECTICTUGC
VTCX¾UFGNCX±NXWNCFGUCNKFC
#88¾CUGVCODK¾PNCUGEEKÉP5GECFQTFGCKTG+(&
5KUVGOCFGCEGKVG
&KCITCOCFGHNWLQ
5KUVGOCFGCEGKVG
4GHGTGPEKCU &GUETKREKÉP
2CTCWPKFCFGU2CEMHNWLQFGCKTGEQORTKOKFQCNEQNGEVQTFGEQPFGPUCFQ
2CTCWPKFCFGU(WNN(GCVWTGHNWLQFGCKTGEQORTKOKFQCNUGECFQTFGCKTG
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKCU &GUETKREKÉP
# 6QOCFGCKTG
$ /G\ENCFGCKTGCEGKVG
% #EGKVG
& #KTGEQORTKOKFQJÐOGFQ
( %QPFGPUCFQ
&GUETKREKÉP
'PGNFGRÉUKVQFGCEGKVG
16NCOC[QTRCTVGFGNCEGKVGUGUGRCTCFGHQTOCEGPVTÃHWICFGNCOG\ENCFG
CKTGCEGKVG'NTGUVQNQTGVKTCGNUGRCTCFQTFGCEGKVG
15'NCEGKVGUGTGEQIGGPNCRCTVGKPHGTKQTFGN
FGRÉUKVQFGCEGKVG
16
.CRTGUKÉPFGNCKTGHWGT\CGNCEGKVGFGUFGGNFGRÉUKVQ
16CVTCX¾UFGNTGHTKIGTCFQT
%Q[HKNVTQ
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GNGOGPVQEQORTGUQT
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.CX±NXWNCFGFGTKXCEKÉPVGTOQUV±VKEC
$8GORKG\CCCDTKTGNUWOKPKUVTQFGCEGKVGFGNTGHTKIGTCFQT
%QCN
UWDKTNCVGORGTCVWTCFGNCEGKVGCNRWPVQFGCLWUVG#WPQUu%
(RQTGPEKOCFGNRWPVQFGCLWUVG
VQFQGNCEGKVGRCUCRQTGNTGHTKIGTCFQT
5KUVGOCFGTGHTKIGTCEKÉP
&KCITCOCFGHNWLQ
5KUVGOCFGTGHTKIGTCEKÉP
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKCU &GUETKREKÉP
# 6QOCFGCKTG
$ /G\ENCFGCKTGCEGKVG
% #EGKVG
& #KTGEQORTKOKFQJÐOGFQ
' %QPFGPUCFQ
&GUETKREKÉP
'NUKUVGOCFGTGHTKIGTCEKÉPXKGPGFQVCFQFGWPTGHTKIGTCFQTFGCKTG
%C[QVTQFGCEGKVG
%Q
'NCKTGFGTGHTKIGTCEKÉPNQIGPGTCWPXGPVKNCFQTEQPOQVQTFGCEEKQPCOKGPVQ
(0
5KUVGOCFGEQPFGPUCFQ
2WPVQUFGFTGPCLGFGEQPFGPUCFQ
7PKFCFGU2CEMEQPRWPVQUFGFTGPCLGFGEQPFGPUCFQ
7PKFCFGU(WNN(GCVWTGEQPRWPVQFGFTGPCLGFGEQPFGPUCFQ
/CPWCNFGKPUVTWEEKQPGU
.CUWPKFCFGU2CEMVKGPGPWPEQNGEVQTFGEQPFGPUCFQ
/6'NEQNGEVQTFGEQPFGPUCFQGUV±GSWKRCFQEQP
WPFTGPCLGOCPWCN
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&C
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'NFKURQUKVKXQFGFTGPCLG
GNGEVTÉPKEQGUV±GSWKRCFQEQPWPRWPVQFGFTGPCLGCWVQO±VKEQ
&C
.CUWPKFCFGUOQPVCFCUGPFGRÉUKVQFKURQPGPFGWPRWPVQFGFTGPCLGOCPWCNCFKEKQPCNGPGNFGRÉUKVQFG
CKTG
5KUVGOCFGTGIWNCEKÉP
&KCITCOCFGHNWLQ
5KUVGOCFGTGIWNCEKÉPFG)#C)#
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5KGNEQPUWOQFGCKTGGUKPHGTKQTCNUWOKPKUVTQFGNEQORTGUQTNCRTGUKÉPFGNCTGFCWOGPVCT±%WCPFQNC
RTGUKÉPFGNCTGFCNECPEGNCFGFGUECTICUGFGUGPGTIK\CNCX±NXWNCFGUQNGPQKFG
;'N¾ODQNQFGNC
X±NXWNCTGVQTPC
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;FGUCEVKXCNCX±NXWNCFGFGUECTICGZRWNUKÉP
78
Ő .CX±NXWNCFGFGUECTICGZRWNUKÉP
78EQPGEVCNCRTGUKÉPFGNTGEGRVQTFGCKTG
EQPNCE±OCTC
[
EQPGNQTKHKEKQFGGZRWNUKÉP
Ő .CRTGUKÉPFGNCE±OCTC
JCEGSWGGN¾ODQNQFGECTIC
.2UGFGURNCEGJCEKCCTTKDC
Ő .CRTGUKÉPUGGUVCDKNK\CCWPDCLQXCNQT7PCRGSWGÇCECPVKFCFFGCKTGUKIWGUKGPFQCURKTCFC[RCUCCN
FGUECTICFQT
%CTIC
%WCPFQNCRTGUKÉPFGNCTGFDCLGCNCFGECTICNCX±NXWNCFGUQNGPQKFG
;UGGPGTIK\C'N¾ODQNQFG
¾UVC
;UGOWGXGJCEKCCTTKDC
/CPWCNFGKPUVTWEEKQPGU
Ő .CX±NXWNCFGUQNGPQKFG
;EQPVTQNCNCX±NXWNCFGFGUECTICGZRWNUKÉP
78
Ő .CX±NXWNCFGFGUECTICGZRWNUKÉP
78EKGTTCGNQTKHKEKQFGGZRWNUKÉPFGCKTG
[GNUWOKPKUVTQJCEKCNC
E±OCTC
Ő 'UVQJCEGSWGGN¾ODQNQFGECTIC
.2UGFGURNCEGJCEKCCDCLQ[SWGNCX±NXWNCFGGPVTCFC
+8UG
CDTCRQTEQORNGVQ
5GTGCPWFCGNUWOKPKUVTQFGCKTG
GNEQORTGUQTOCTEJCGPECTIC
5KUVGOCGN¾EVTKEQ
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%QORQPGPVGUGN¾EVTKEQU
'NUKUVGOCGN¾EVTKEQEQPUVCFGNQUEQORQPGPVGUUKIWKGPVGU
%WDÃEWNQGN¾EVTKEQFG)#C)#GLGORNQVÃRKEQ
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKC &GUKIPCEKÉP
( (WUKDNGU
( (WUKDNGU
( (WUKDNGURCTCUGECFQT
UÉNQGPEQORTGUQTGU(WNN(GCVWTG
( 4GN¾FGUQDTGECTICOQVQTFGNEQORTGUQT
- %QPVCEVQTCWZKNKCTRCTCUGECFQT
UÉNQGPEQORTGUQTGU(WNN(GCVWTG
- %QPVCEVQTFGNÃPGC
- %QPVCEVQTFGGUVTGNNC
- %QPVCEVQTFGVTK±PIWNQ
66 6TCPUHQTOCFQTGU
: 4GINGVCFGDQTPGU
UWOKPKUVTQFGVGPUKÉP
: 4GINGVCFGDQTPGU
OQVQT
:: %QPGEVQTGU
2' $QTPGFGRWGUVCCVKGTTC
/CPWCNFGKPUVTWEEKQPGU
&KCITCOCUGN¾EVTKEQU
&KCITCOCFG'NGMVTQPKMQP+
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKC &GUKIPCEKÉP
+PUVCNCEKÉPFGNENKGPVG
1REKÉP
6QFQUNQUXQNVCLGUEQPGZEGREKÉPFG8*\
#TTCPSWGRCTCFCCFKUVCPEKC
2TQVGEEKÉPFGNOQVQT
2CTCFCFGGOGTIGPEKC
2CTCFCFGGOGTIGPEKCCFKUVCPEKC
5WOKPKUVTQFGUGECFQT
6QFQUNQUQVTQUXQNVCLGU
&GUKIPCEKQPGURCTCEQORTGUQTGU'NGMVTQPKMQP+
4GHGTGPEKC %QORTGUQT
# 5GECFQT
/ /QVQTFGNEQORTGUQT
26 5GPUQTFGRTGUKÉPUWOKPKUVTQFGCKTG
66 5GPUQTFGVGORGTCVWTCUCNKFCFGNGNGOGPVQ
66 5GPUQTFGVGORGTCVWTC.#6UGECFQT
; 8±NXWNCFGUQNGPQKFG
4GHGTGPEKC %WDÃEWNQFGCTTCPSWG
' 4GIWNCFQT'NGMVTQPKMQP
( (WUKDNGU
( 4GN¾FGUQDTGECTICOQVQTFGNEQORTGUQT
- %QPVCEVQTFGNÃPGC
- %QPVCEVQTFGGUVTGNNC
- %QPVCEVQTFGVTK±PIWNQ
- 4GN¾CWZKNKCTRTQVGEEKÉPFGNOQVQT
5ʼn &GVGEEKÉPRTGUKÉPTGOQVC
5ʼn #TTCPSWGRCTCFCCFKUVCPEKC
5 2CTCFCFGGOGTIGPEKC
5ʼn 2CTCFCFGGOGTIGPEKCCFKUVCPEKC
6 6TCPUHQTOCFQT
: %QPGZKÉPFGUWOKPKUVTQFGGPGTIÃC
: %QPGZKÉPFGNOQVQT
: %QPGZKÉPCVKGTTC
:: %QPGEVQTGU
/CPWCNFGKPUVTWEEKQPGU
4GHGTGPEKC /ÉFWNQFGEQPVTQNFGNEQORTGUQT
- 4GN¾FGDNQSWGQ
- 4GN¾CWZKNKCTEQPVCEVQTFGGUVTGNNC
- 4GN¾CWZKNKCTEQPVCEVQTFGVTK±PIWNQ
- 4GN¾CWZKNKCTECTICFGUECTIC
- 4GN¾CWZKNKCTUGECFQT
- 4GN¾CWZKNKCTRCTCFCIGPGTCN
+ #TTCPSWG
2CTCFC
4GHGTGPEKC 'SWKRQQREKQPCN
$ &KURQUKVKXQGNGEVTÉPKEQFGFTGPCLGFGCIWC
; &TGPCLGEQPVGORQTK\CFQT
- 4GN¾FGUGEWGPEKCFGHCUGU
5 +PVGTTWRVQTRTKPEKRCN
4 %CNGPVCFQTGUCPVKEQPFGPUCEKÉP
5GECFQTFGCKTG
&GUETKREKÉP
5GECFQTFGCKTG
'NCKTGEQORTKOKFQGPVTCGPGNKPVGTECODKCFQTFGECNQT
[UGGPHTÃCOGFKCPVGGNCKTGUGECFQ[HTÃQSWG
UCNG'NCIWCFGNCKTGSWGGPVTCGORKG\CCEQPFGPUCTUG.WGIQGNCKTGHNW[GCVTCX¾UFGNKPVGTECODKCFQT
FGECNQTGXCRQTCFQT
FQPFGGNTGHTKIGTCPVGUGGXCRQTCJCEKGPFQSWGGNCKTGEQPVKPÐGGPHTK±PFQUG
JCUVCCEGTECTUGCNCVGORGTCVWTCFGGXCRQTCEKÉPFGNTGHTKIGTCPVG5GEQPFGPUCO±UCIWCGPGNCKTG'N
CKTGHTÃQRCUCGPUGIWKFCCVTCX¾UFGNUGRCTCFQT
FQPFGVQFQGNEQPFGPUCFQUGUGRCTCFGNCKTG'N
EQPFGPUCFQGUFTGPCFQCWVQO±VKECOGPVG'NCKTGUGECFQ[HTÃQRCUCCVTCX¾UFGNKPVGTECODKCFQTFGECNQT
FQPFGUGECNKGPVCOGFKCPVGGNCKTGFGGPVTCFC
/CPWCNFGKPUVTWEEKQPGU
4GIWNCFQT'NGMVTQPKMQP+
4GIWNCFQT'NGMVTQPKMQP+
2CPGNFGEQPVTQN
+PVTQFWEEKÉP
'PIGPGTCNGNTGIWNCFQT'NGMVTQPKMQPGLGEWVCNCUVCTGCUUKIWKGPVGU
Ő %QPVTQNFGNEQORTGUQT
Ő 2TQVGIGTGNEQORTGUQT
Ő /QPKVQTK\CTNQUEQORQPGPVGUUWLGVQUCUGTXKEKQ
Ő #TTCPSWGCWVQO±VKEQFGURW¾UFGKPVGTTWREKÉPFGNXQNVCLG
JGEJQKPCEVKXQ
%QPVTQNCWVQO±VKEQFGNEQORTGUQT
'NTGIWNCFQTOCPVKGPGNCRTGUKÉPFGNCTGFGPVTGNQUNÃOKVGURTQITCOCDNGUECTICPFQ[FGUECTICPFQGN
EQORTGUQTCWVQO±VKECOGPVG5GVKGPGGPEWGPVCWPPÐOGTQFGCLWUVGURTQITCOCDNGURGLNCURTGUKQPGU
FGFGUECTIC[ECTICGNVKGORQOÃPKOQFGRCTCFC[GNPÐOGTQO±ZKOQFGCTTCPSWGUFGNOQVQT
'NTGIWNCFQTRCTCGNEQORTGUQTECFCXG\SWGUGCRQUKDNGEQPQDLGVQFGTGFWEKTGNEQPUWOQFGGPGTIÃC[
XWGNXGCCTTCPECTNQCWVQO±VKECOGPVGEWCPFQDCLGNCRTGUKÉPFGNCTGF
2TQVGIGTGNEQORTGUQT
2CTCFCFGCNCTOC
5KNCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQTGZEGFGGNPKXGNFGRCTCFCFGCNCTOCRTQITCOCFQUG
RCTCT±GNEQORTGUQT'UVQUGKPFKECGPGNFKURNC[
'NEQORTGUQTUGRCTCT±VCODK¾PGPECUQFG
UQDTGECTICFGNOQVQTFGCEEKQPCOKGPVQ
#PVGUFGUQNWEKQPCTEQPUWNVGNCU2TGECWEKQPGUFGUGIWTKFCF
#XKUQFGRCTCFCFGCNCTOC
7PPKXGNFGCXKUQFGRCTCFCFGCNCTOCGUWPPKXGNRTQITCOCDNGDCLQGNPKXGNFGRCTCFCFGCNCTOC
5KCNIWPCFGNCUOGFKFCUGZEGFGGNPKXGNFGCXKUQFGRCTCFCFGCNCTOCRTQITCOCFQUGKPFKECT±GUVQ
VCODK¾PEQPQDLGVQFGCXKUCTCNQRGTCFQTCPVGUFGSWGUGNNGIWGCFKEJQPKXGNFGRCTCFCFGCNCTOC
/CPWCNFGKPUVTWEEKQPGU
#XKUQFGUGTXKEKQ
5KGNVGORQTK\CFQTFGUGTXKEKQGZEGFGWPXCNQTRTQITCOCFQUGKPFKECT±GUVQGPGNFKURNC[
EQPQDLGVQ
FGCXKUCTCNQRGTCFQTSWGNNGXGCECDQEKGTVCUCEEKQPGUFGUGTXKEKQ
4GCTTCPSWGCWVQO±VKEQFGURW¾UFGKPVGTTWREKÉPFGNXQNVCLG
'NTGIWNCFQTKPEQTRQTCWPCHWPEKÉPFGCTTCPSWGCWVQO±VKEQFGNEQORTGUQTCNTGUVCDNGEGTUGGNXQNVCLG
FGURW¾UFGWPCKPVGTTWREKÉPGN¾EVTKEC&KEJCHWPEKÉPGUV±FGUCEVKXCFCGPNQUEQORTGUQTGUSWGUCNGPFG
NCH±DTKEC0QQDUVCPVGGURQUKDNGCEVKXCTNCUKCUÃUGFGUGC%QPUWNVGC#VNCU%QREQ
5KUGJCCEVKXCFQNCHWPEKÉP[CEQPFKEKÉPFGSWGGNOÉFWNQUGGPEQPVTCTCGPGN
OQFQFGHWPEKQPCOKGPVQCWVQO±VKEQGNEQORTGUQTXQNXGT±CCTTCPECT
CWVQO±VKECOGPVGUKUGTGUVCDNGEGGNXQNVCLGFGUWOKPKUVTQCNOÉFWNQ
2CPGNFGEQPVTQN
4GIWNCFQT'NGMVTQPKMQP+
/CPWCNFGKPUVTWEEKQPGU
&KURNC[
&GUETKREKÉP
0QTOCNOGPVGGNFKURNC[
OWGUVTCNQUKIWKGPVG
Ő 'NGUVCFQFGHWPEKQPCOKGPVQFGNEQORTGUQTRQTOGFKQFGRKEVQITCOCU
Ő .CRTGUKÉPFGUCNKFCFGNCKTG
Ő .CVGORGTCVWTCCEVWCNGPNCUCNKFCFGNGNGOGPVQEQORTGUQT
Ő .CVGORGTCVWTCCEVWCNFGNRWPVQFGTQEÃQFGEQORTGUQTGU(WNN(GCVWTG
/CPWCNFGKPUVTWEEKQPGU
'NFKURNC[KPFKECVCODK¾PVQFQUNQURCT±OGVTQUOGFKFQU[RTQITCOCFQUX¾CUGNCUGEEKÉP&GURNC\CTUG
RQTVQFCUNCURCPVCNNCU
2KEVQITCOCUWVKNK\CFQUGPNCRCPVCNNC
2KEVQITCOCU
2KEVQITCOC &GUETKREKÉP
'UVCFQFGEQORTGUQT%#4)#
FWTCPVGOCTEJCGPECTICRCTRCFGCNCHNGEJC
JQTK\QPVCN
'UVCFQFGEQORTGUQT&'5%#4)#
+PFKECEKÉPFG%#4)#[&'5%#4)#
6GORGTCVWTCFGUCNKFCFGNGNGOGPVQ
6GORGTCVWTCFGNRWPVQFGTQEÃQ
/QVQTQUQDTGECTICFGOQVQT
$QVÉPFGRCTCFCFGGOGTIGPEKC
2KEVQITCOCFGUGTXKEKQ
#LWUVGFGTGFQEQPVTQN.#0
2CPVCNNCRTKPEKRCN
2TQEGFKOKGPVQ
%WCPFQUGEQPGEVGGNXQNVCLGUGOWGUVTCCWVQO±VKECOGPVGNC2CPVCNNCRTKPEKRCNOWGUVTCGPDTGXGNC
UKVWCEKÉPFGHWPEKQPCOKGPVQFGNEQORTGUQT[NCRTGUKÉPFGUCNKFC
2CPVCNNCRTKPEKRCNGLGORNQVÃRKEQ
DCT
/CPWCNFGKPUVTWEEKQPGU
.CRCPVCNNCKPFKECSWGOCTEJCGNEQORTGUQTGPECTIC
RCTRCFGCNCHNGEJCJQTK\QPVCN[SWGNCRTGUKÉPFG
UCNKFCGUFGDCT
G
5KGORTGEQPUWNVGC#VNCU%QREQUKCRCTGEGVGUV GPGNFKURNC[
%QPUWNVGVCODK¾PNCUGEEKÉP&GURNC\CTUGRQTVQFCUNCURCPVCNNCU
#XKUQFGRCTCFCFGCNCTOC
&GUETKREKÉP
#RCTGEGT±WPCPQVKEKCFGCXKUQFGRCTCFCFGCNCTOCGPECUQFG
Ő WPCVGORGTCVWTCFGOCUKCFQCNVCGPNCUCNKFCFGNGNGOGPVQEQORTGUQT
Ő WPCVGORGTCVWTCFGOCUKCFQCNVCFGNRWPVQFGTQEÃQRCTCEQORTGUQTGU(WNN(GCVWTG
6GORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQT
Ő 5KNCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQTGZEGFGGNPKXGNFGCXKUQFGRCTCFCFGCNCTOC
u%u(UGGPEGPFGT±GN.'&FGCNCTOC
[RCTRCFGCT±GNRKEVQITCOCEQTTGURQPFKGPVG
2CPVCNNCRTKPEKRCNEQPCXKUQFGVGORGTCVWTCFGUCNKFCFGNGNGOGPVQ
RCTRCFGCPFQ
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
CRCTGEGNCVGORGTCVWTCCEVWCNFGNGNGOGPVQEQORTGUQT
2CPVCNNCFGCXKUQVGORGTCVWTCFGUCNKFCFGGNGOGPVQ
RCTRCFGCPFQ
u%
/CPWCNFGKPUVTWEEKQPGU
.CRCPVCNNCOWGUVTCSWGNCVGORGTCVWTCGPNCUCNKFCFGNGNGOGPVQEQORTGUQTGUu%
Ő 3WGFCRQUKDNGFGURNC\CTUGRQTQVTCURCPVCNNCU
EQPC[WFCFGNCUVGENCU[RCTCEQORTQDCTGN
GUVCFQCEVWCNFGQVTQURCT±OGVTQU
Ő 2WNUGGNDQVÉP
RCTCRCTCTGNEQORTGUQT[GURGTGJCUVCSWGJC[CRCTCFQGHGEVKXCOGPVG
Ő &GUEQPGEVGGNXQNVCLGTGXKUGGNEQORTGUQT[JCICNCUIGUVKQPGUPGEGUCTKCU
Ő &GUCRCTGEGT±NCPQVKEKCFGCXKUQVCPRTQPVQEQOQFGUCRCTG\ECNCEQPFKEKÉPFGCXKUQ
6GORGTCVWTCFGNRWPVQFGTQEÃQ
2CTCEQORTGUQTGUEQPUGECFQTKPVGITCFQ
Ő 5KNCVGORGTCVWTCFGNRWPVQFGTQEÃQGZEGFGGNPKXGNFGCXKUQ
PQRTQITCOCDNGUGGPEGPFGT±GN.'&
FGCNCTOC
[RCTRCFGCT±GNRKEVQITCOCEQTTGURQPFKGPVG
2CPVCNNCRTKPEKRCNEQPCXKUQFGVGORGTCVWTCFGNRWPVQFGTQEÃQ
RCTRCFGCPFQ
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECNCVGORGTCVWTCCEVWCNFGNRWPVQFGTQEÃQ
2CPVCNNCFGCXKUQVGORGTCVWTCFGUCNKFCFGGNGOGPVQ
RCTRCFGCPFQ
u%
.CRCPVCNNCOWGUVTCSWGNCVGORGTCVWTCFGNRWPVQFGTQEÃQGUu%
Ő 3WGFCRQUKDNGFGURNC\CTUGRQTQVTCURCPVCNNCU
EQPC[WFCFGNCUVGENCU[RCTCEQORTQDCTGN
GUVCFQCEVWCNFGQVTQURCT±OGVTQU
Ő 2WNUGGNDQVÉP
RCTCRCTCTGNEQORTGUQT[GURGTGJCUVCSWGJC[CRCTCFQGHGEVKXCOGPVG
Ő &GUEQPGEVGGNXQNVCLGTGXKUGGNEQORTGUQT[JCICNCUIGUVKQPGUPGEGUCTKCU
Ő &GUCRCTGEGT±NCPQVKEKCFGCXKUQVCPRTQPVQEQOQFGUCRCTG\ECNCEQPFKEKÉPFGCXKUQ
2CTCFCFGCNCTOC
&GUETKREKÉP
'NEQORTGUQTUGRCTCT±GPECUQFG
Ő WPCVGORGTCVWTCGPNCUCNKFCFGNGNGOGPVQEQORTGUQTSWGGZEGFGGNPKXGNFGRCTCFCFGCNCTOC
Ő WPGTTQTFGNUGPUQTFGNCRTGUKÉPFGUCNKFC
/CPWCNFGKPUVTWEEKQPGU
Ő UQDTGECTICFGNOQVQTFGCEEKQPCOKGPVQ
6GORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQT
Ő 5KNCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQTGZEGFGGNPKXGNFGRCTCFCFGCNCTOC
u%
u(RTQITCOCDNGUGRCTCT±GNEQORTGUQTRCTRCFGCT±GN.'&FGCNCTOC
UGCRCICT±GN.'&FG
HWPEKQPCOKGPVQCWVQO±VKEQ
[CRCTGEGT±NCRCPVCNNCUKIWKGPVG
2CPVCNNCRTKPEKRCNEQPKPFKECEKÉPFGRCTCFCFGCNCTOCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQ
RCTRCFGCPFQ
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECNCVGORGTCVWTCCEVWCNFGNGNGOGPVQEQORTGUQT
2CPVCNNCFGRCTCFCFGCNCTOCVGORGTCVWTCFGUCNKFCFGGNGOGPVQ
RCTRCFGCPFQ RCTRCFGCPFQ
u%
.CRCPVCNNCOWGUVTCSWGNCVGORGTCVWTCGPNCUCNKFCFGNGNGOGPVQEQORTGUQTGUu%
Ő &GUEQPGEVGGNXQNVCLG[JCICNCUIGUVKQPGUPGEGUCTKCURCTCTGOGFKCTNCCXGTÃC
Ő &GURW¾UFGTGOGFKCT[FGUCRCTGEKFCNCEQPFKEKÉPFGRCTCFCFGCNCTOCEQPGEVGGNXQNVCLG[RQPICGN
EQORTGUQTGPOCTEJC
5QDTGECTICFGNOQVQT
Ő 'PECUQFGUQDTGECTICFGNOQVQTUGRCTCT±GNEQORTGUQTRCTRCFGCT±GN.'&FGCNCTOC
UG
CRCICT±GN.'&FGHWPEKQPCOKGPVQCWVQO±VKEQ
[CRCTGEGT±NCRCPVCNNCUKIWKGPVG
2CPVCNNCRTKPEKRCNEQPKPFKECEKÉPFGRCTCFCFGCNCTOCUQDTGECTICFGNOQVQT
RCTRCFGCPFQ
DCT
/CPWCNFGKPUVTWEEKQPGU
Ő &GUEQPGEVGGNXQNVCLG[JCICNCUIGUVKQPGUPGEGUCTKCURCTCTGOGFKCTNCCXGTÃC
Ő &GURW¾UFGTGOGFKCT[FGUCRCTGEKFCNCEQPFKEKÉPFGRCTCFCFGCNCTOCEQPGEVGGNXQNVCLG[RQPICGN
EQORTGUQTGPOCTEJC
#XKUQFGUGTXKEKQ
&GUETKREKÉP
#RCTGEGT±WPCXKUQFGUGTXKEKQCNCNECP\CTGNVGORQTK\CFQTFGUGTXKEKQGNKPVGTXCNQFGVKGORQRTQITCOCFQ
Ő 5KGNVGORQTK\CFQTFGUGTXKEKQGZEGFGGNKPVGTXCNQRTQITCOCFQUGGPEGPFGT±GN.'&FGCNCTOC
Ő 2WNUGNCVGENCEQPHNGEJC
RCTCFGURNC\CTUGJCUVCF [CRCTGEGGNUÃODQNQFGUGTXKEKQ2WNUGNC
VGENC
UGOQUVTCT±NCOGFKEKÉPCEVWCNFGNVGORQTK\CFQTFGUGTXKEKQGPJTU QZJTU
UK
GNXCNQTFGNVGORQTK\CFQTFGUGTXKEKQGUUWRGTKQTC
'LGORNQFGWPCRCPVCNNCFGVGORQTK\CFQTFGUGTXKEKQ
F
JTU
.CRCPVCNNCOWGUVTCSWGGNXCNQTFGNVGORQTK\CFQTFGUGTXKEKQGU
Ő 2WNUGNCVGENCEQPHNGEJC
RCTCFGURNC\CTUGJCUVCF [CRCTGEGGNUÃODQNQFGJQTCUFG
HWPEKQPCOKGPVQ2WNUGNCVGENC
UGOQUVTCT±NCOGFKEKÉPCEVWCNFGNVGORQTK\CFQTFGUGTXKEKQGP
JTU QZJTU
UKGNXCNQTFGNVGORQTK\CFQTFGUGTXKEKQGUUWRGTKQTC
'LGORNQFGWPCRCPVCNNCFGJQTCUFGHWPEKQPCOKGPVQ
F
JTU
Ő 2CTGGNEQORTGUQTFGUEQPGEVGGNXQNVCLG[NNGXGCECDQNCUCEEKQPGUFGUGTXKEKQKPFKECFCU%QPUWNVGNC
UGEEKÉP2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
/CPWCNFGKPUVTWEEKQPGU
Ő .CUCEEKQPGUFGUGTXKEKQFGNQUKPVGTXCNQUNCTIQUFGDGPKPENWKTNCUCEEKQPGUFGNQU
KPVGTXCNQUEQTVQU
'PGNGLGORNQCTTKDCJC[SWGTGCNK\CTVQFCUNCUQRGTCEKQPGUFGUGTXKEKQ
RGTVGPGEKGPVGUCNKPVGTXCNQFGJQTCUFGHWPEKQPCOKGPVQCUÃEQOQNCU
RGTVGPGEKGPVGUCNKPVGTXCNQFGJQTCUFGHWPEKQPCOKGPVQ
Ő 5KUGWUCCEGKVGOKPGTCNGPXG\FG#VNCU%QREQ4QVQKPLGEVHNWKFJC[SWG
FKUOKPWKTUGGNKPVGTXCNQFGNVGORQTK\CFQTFGUGTXKEKQ%QPUWNVGNCUGEEKÉP
2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
Ő &GURW¾UFGNUGTXKEKQTGCTOGGNVGORQTK\CFQTFGUGTXKEKQ%QPUWNVGNCUGEEKÉP+PXQECEKÉPTGCTOGFG
VGORQTK\CFQTFGUGTXKEKQ
&GURNC\CTUGRQTVQFCUNCURCPVCNNCU
2CPGNFGEQPVTQN
2CPGNFGEQPVTQN
'URQUKDNGFGURNC\CTUGRQTVQFCUNCURCPVCNNCUEQPC[WFCFGNCUVGENCUFGFGURNC\COKGPVQ
[.CU
RCPVCNNCUUGFKXKFGPGPRCPVCNNCUFGTGIKUVTQRCPVCNNCUFGFCVQUOGFKFQURCPVCNNCUFGGPVTCFCFKIKVCN
PWOGTCFCUEQOQFKP F RCPVCNNCUFGRCT±OGVTQU
PWOGTCFCUEQOQ2
2 RCPVCNNCUFGRTQVGEEKQPGU
PWOGTCFCUEQOQ2T [RCPVCNNCUFGRTWGDC
PWOGTCFCUEQOQV
&WTCPVGGNFGURNC\COKGPVQNQUPÐOGTQUFGNCURCPVCNNCUCRCTGEGPEQPUGEWVKXCOGPVG'PNCOC[QTÃCFG
NQUECUQUUGOWGUVTCPUKOWNV±PGCOGPVGNCWPKFCFFGOGFKEKÉP[GNRKEVQITCOCEQTTGURQPFKGPVGEQPGN
PÐOGTQFGNCRCPVCNNC
'PGNECUQFGWPCXKUQQWPCRCTCFCFGCNCTOCGNRKEVQITCOCEQTTGURQPFKGPVGRCTRCFGCGPNCRCPVCNNC
RTKPEKRCN
'LGORNQ
JTU
F
/CPWCNFGKPUVTWEEKQPGU
4GUWOGPFGNCURCPVCNNCU
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
(NWLQFGOGPÐU
(NWLQUKORNKHKECFQFGOGPÐU
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPFGVGORGTCVWTCUFGUCNKFC[RWPVQFGTQEÃQ
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
UGOQUVTCT±NCVGORGTCVWTCFGUCNKFC
u%
.CRCPVCNNCOWGUVTCSWGNCVGORGTCVWTCFGUCNKFCGUu%
Ő
2CTCEQORTGUQTGU(WNN(GCVWTG
2WNUGNCVGENCEQPHNGEJC
UGOQUVTCT±NCVGORGTCVWTCFGNRWPVQFGTQEÃQ
u%
.CRCPVCNNCOWGUVTCSWGNCVGORGTCVWTCFGNRWPVQFGTQEÃQGUu%
Ő &GURN±EGUGJCEKCCDCLQQCTTKDCRQTNCURCPVCNNCUEQPC[WFCFGNCUVGENCUEQPHNGEJC
[
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPFGJQTCUFGHWPEKQPCOKGPVQ
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
ZJTU
+PXQECEKÉPFGCTTCPSWGUFGNOQVQT
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
/CPWCNFGKPUVTWEEKQPGU
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
Z
'UVCRCPVCNNCOWGUVTCGNPÐOGTQFGCTTCPSWGUFGNOQVQTRQT
RQTQUKUGGPEKGPFGZ RQT
'NPÐOGTQFGCTTCPSWGUFGNOQVQTGU
+PXQECEKÉPFGJQTCUFGNOÉFWNQ
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
JTU
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPFGJQTCUFGECTIC
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
JTU
.CRCPVCNNCOWGUVTCNCWPKFCFWUCFCJTU
QZJTU [GNXCNQT NCUJQTCUFGECTIC
FGNEQORTGUQTUQPJQTCU
+PXQECEKÉPFGNTGN¾FGECTIC
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
/CPWCNFGKPUVTWEEKQPGU
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
Z
'UVCRCPVCNNCOWGUVTCGNPÐOGTQFGCEEKQPGUFGFGUECTIC[ECTIC
RQTQUKUGGPEKGPFGZ RQT
'NPÐOGTQFGCEEKQPGUFGFGUECTIC[ECTICGU
+PXQECEKÉPTGCTOGFGVGORQTK\CFQTFGUGTXKEKQ
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECF [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
JTU
.CRCPVCNNCOWGUVTCNCWPKFCFWUCFCJTU
QZ JQTCUZ[GNXCNQT GN
EQORTGUQTJCHWPEKQPCFQFWTCPVGJQTCUFGUFGGNUGTXKEKQCPVGTKQT
/CPWCNFGKPUVTWEEKQPGU
4GCTOGFGNVGORQTK\CFQTFGUGTXKEKQ
*C[SWGTGCTOCTGNVGORQTK\CFQTFGURW¾UFGNUGTXKEKQX¾CUGNCUGEEKÉP#XKUQFGUGTXKEKQ
Ő &GURN±EGUGJCUVCNCRCPVCNNCFGTGIKUVTQF [RWNUGNCVGENCFGGPVTCFC
Ő #RCTGEGT±NCNGEVWTC
RQTGLGORNQ
Ő 2WNUGNCVGENCFGGPVTCFC
UKUGJCGUVCDNGEKFQWPCEQPVTCUGÇCKPVTQFÐ\ECNC
.CNGEVWTCRCTRCFGCT±
NQSWGKPFKECSWGGURQUKDNGTGCTOCT
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCTGCTOCTGNVGORQTK\CFQTC QRWNUGNCVGENCFGTGCTOG
RCTCECPEGNCTNCQRGTCEKÉP
5GNGEEKÉPGPVTGEQPVTQNNQECNTGOQVQQ.#0
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
'NOQFQFGEQPVTQNCEVWCNOGPVGWUCFQUGOWGUVTCEQOQ.1% RCTCEQPVTQNNQECNT' RCTC
EQPVTQNTGOQVQQ.#P RCTCEQPVTQN.#0
Ő 2WNUGNCVGENCFGGPVTCFC
[UKGUPGEGUCTKQKPVTQFW\ECNCEQPVTCUGÇC'NOQFQFGEQPVTQNCEVWCN
RCTRCFGC7VKNKEGNCUVGENCU
[
RCTCECODKCTGNOQFQFGEQPVTQN
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNPWGXQOQFQFGCTTCPSWGQRWNUGNCVGENCFGTGCTOG
RCTCECPEGNCT
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPFGOQFKHKECEKÉPFGN+&FGPQFQRCTCEQPVTQN.#0
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
5GOWGUVTCGN+&FGPQFQCEVWCNOGPVGWUCFQ
Ő 2WNUGNCVGENCFGGPVTCFC
[UKGUPGEGUCTKQKPVTQFW\ECNCEQPVTCUGÇC'N+&FGPQFQCEVWCNOGPVG
WUCFQRCTRCFGC7VKNKEGNCUVGENCU
[
RCTCECODKCTGN+&FGPQFQ
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNPWGXQ+&FGPQFQQRWNUGNCVGENCFGTGCTOGRCTC
ECPEGNCT
+PXQECEKÉPFGOQFKHKECEKÉPFGCLWUVGUFGDCPFCFGRTGUKÉP
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
/CPWCNFGKPUVTWEEKQPGU
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
.CDCPFCFGRTGUKÉP2D UGOWGUVTCGPGNFKURNC[[RWGFGWVKNK\CTNCVGENC
RCTC
FGURNC\CTUGJCUVCNCDCPFCFGRTGUKÉP2D
Ő 2WNUGNCVGENCFGGPVTCFC
GPNCDCPFCFGRTGUKÉPFGUGCFC#RCTGEGGNPKXGNFGECTICFGNCDCPFCFG
RTGUKÉPUGNGEEKQPCFC[UGRWGFGWVKNK\CTNCVGENC
RCTCFGURNC\CTUGJCUVCGNPKXGNFGFGUECTIC
2TGUKÉPFGECTIC
DCT
2TGUKÉPFGFGUECTIC
DCT
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCOQFKHKECTGNPKXGNFGECTIC
GNXCNQTEQOKGP\CCRCTRCFGCT2WGFG
UGTPGEGUCTKQKPVTQFWEKTWPCEQPVTCUGÇC7VKNKEGNCUVGENCU
[
RCTCOQFKHKECTNCRTGUKÉPFGECTIC
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTNQUPWGXQUXCNQTGUQRWNUGNCVGENCFGTGCTOGRCTC
ECPEGNCT
/QFKHKECEKÉPFGNCUGNGEEKÉPFGDCPFCFGRTGUKÉP
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
.CDCPFCFGRTGUKÉPCEVKXC2D UGOWGUVTCGPGNFKURNC[
/CPWCNFGKPUVTWEEKQPGU
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCOQFKHKECTNCUGNGEEKÉPFGDCPFCFGRTGUKÉP
RWGFGUGTPGEGUCTKQ
KPVTQFWEKTWPCEQPVTCUGÇC.CDCPFCFGRTGUKÉPCEVKXC2D EQOKGP\CCRCTRCFGCT
2D
Ő 2WNUGNCVGENC
RCTCOQFKHKECTNCDCPFCFGRTGUKÉPCEVKXC2WNUGNCVGENCFGGPVTCFC
RCTC
EQPHKTOCTQRWNUGNCVGENCFGTGCTOGRCTCECPEGNCT
+PXQECEKÉPOQFKHKECEKÉPFGCLWUVGFGVGORQTK\CFQTFG
UGTXKEKQ
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
GNCLWUVGFGNVGORQTK\CFQTFGUGTXKEKQUGKPFKECGPJTU
JQTCUQZJTU
JQTCUZ
'LGORNQJTU UKIPKHKECSWGGNVGORQTK\CFQTUGGPEWGPVTCCLWUVCFQCJQTCUFG
HWPEKQPCOKGPVQ
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCOQFKHKECTGUVGXCNQT
RWGFGUGTPGEGUCTKQKPVTQFWEKTWPC
EQPVTCUGÇCGNXCNQTRCTRCFGC/QFKHKSWGFKEJQCLWUVGEQPC[WFCFGNCUVGENCUEQPHNGEJC
[
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNPWGXQXCNQT[XQNXGTCNCURCPVCNNCUFGRCT±OGVTQU
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPOQFKHKECEKÉPFGWPKFCFFGVGORGTCVWTC
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
.QUCLWUVGURQUKDNGUUQPu% [u( UGOWGUVTCNCWPKFCFCEVWCNOGPVGWUCFC
Ő 2WNUGNCVGENCFGGPVTCFC
NCWPKFCFRCTRCFGC[WVKNKEGNCUVGENCUEQPHNGEJC
[RCTC
UGNGEEKQPCTQVTCWPKFCFFGVGORGTCVWTC
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTNCPWGXCWPKFCF[RWNUGNCVGENCFGTGCTOGRCTCXQNXGTC
NCRCPVCNNCFGRCT±OGVTQU
+PXQECEKÉPOQFKHKECEKÉPFGWPKFCFFGRTGUKÉP
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
/CPWCNFGKPUVTWEEKQPGU
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [UGOWGUVTCPNQUCLWUVGURQUKDNGU
/RC RUK [DCT RWNUGNCVGENCFGGPVTCFC
[RCTRCFGCNCWPKFCFSWGUGWUC
CEVWCNOGPVG
Ő 2WNUGNCVGENCFGGPVTCFC
NCWPKFCFEQOKGP\CCRCTRCFGCT[WVKNKEGNCUVGENCUEQPHNGEJC
[
RCTCUGNGEEKQPCTQVTCWPKFCFFGRTGUKÉP
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTNCPWGXCWPKFCFFGRTGUKÉP[RWNUGNCVGENCFGTGCTOG
RCTCXQNXGTCNCURCPVCNNCUFGRCT±OGVTQU
#EVKXCTTGCTTCPSWGCWVQO±VKEQFGURW¾UFGHCNNQFGNXQNVCLG
&GUETKREKÉP
5ÉNQGURQUKDNGOQFKHKECTGUVGRCT±OGVTQSWGGUCEEGUKDNGGPNCRCPVCNNC2 FGURW¾UFGKPVTQFWEKT
WPEÉFKIQ%QPUWNVGC#VNCU%QREQUKFGUGCCEVKXCTGUVCHWPEKÉP
5GNGEEKÉPGPVTGCTTCPSWG;&Q&1.
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECP2 [GNRKEVQITCOCFGNOQVQT[C
EQPVKPWCEKÉPRWNUGNCVGENCFGGPVTCFC
'NOQFQFGCTTCPSWGWVKNK\CFQCEVWCNOGPVGUGOWGUVTC
EQOQ;F RCTC;&
GUVTGNNCVTK±PIWNQQFQ. RCTC&1.
FKTGEVQ
Ő 5ÉNQGURQUKDNGOQFKHKECTGUVGRCT±OGVTQFGURW¾UFGKPVTQFWEKTWPEÉFKIQ5KFGDGECODKCTGN
RCT±OGVTQEQPUWNVGC#VNCU%QREQ
/CPWCNFGKPUVTWEEKQPGU
+PXQECEKÉPFGOQFKHKECEKÉPFGNVKGORQFGTGVTCUQFGECTIC
2CPGNFGEQPVTQN
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECP2 [GNRKEVQITCOCFGECTICFGNEQORTGUQT[
CEQPVKPWCEKÉPRWNUGNCVGENCFGGPVTCFC
U
Ő 'UVCRCPVCNNCOWGUVTCGNVKGORQFGTGVTCUQFGECTIC[NCWPKFCFU UGIWPFQU5KFGUGC
OQFKHKECTGUVGXCNQTRWNUGNCVGENCFGGPVTCFC
Ő 'URQUKDNGSWGUGPGEGUKVGWPCEQPVTCUGÇCQREKQPCNGNXCNQTEQOKGP\CCRCTRCFGCT[UGRWGFGP
WVKNK\CTNCUVGENCUEQPHNGEJC
[
RCTCOQFKHKECTGNXCNQT
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNXCNQTPWGXQQRWNUGNCVGENCFGTGCTOGRCTCECPEGNCT
+PXQECEKÉPFGOQFKHKECEKÉPFGVKGORQOÃPKOQFGRCTCFC
2CPGNFGEQPVTQN
/CPWCNFGKPUVTWEEKQPGU
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECP2 [GNRKEVQITCOCFGNOQVQT[C
EQPVKPWCEKÉPRWNUGNCVGENCFGGPVTCFC
U
Ő 'UVCRCPVCNNCOWGUVTCGNVKGORQOÃPKOQFGRCTCFC[NCWPKFCFU UGIWPFQU5KFGUGCOQFKHKECT
GUVGXCNQTRWNUGNCVGENCFGGPVTCFC
Ő 'NXCNQTEQOKGP\CCRCTRCFGCT[UGRWGFGPWVKNK\CTNCUVGENCUEQPHNGEJC
[
RCTCOQFKHKECTGUVG
XCNQT
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNPWGXQXCNQT
#EVKXCTRTQVGEEKÉPRQTEQPVTCUGÇC
2CPGNFGEQPVTQN
.QUCLWUVGUKORQTVCPVGUEQOQGNFGNVGORQTK\CFQTFGUGTXKEKQNCDCPFCFGRTGUKÉPGNOQFQFG
EQPVTQNRWGFGPRTQVGIGTUGEQPWPCEQPVTCUGÇC
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2 [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
/CPWCNFGKPUVTWEEKQPGU
2#55
Ő .CEQPVTCUGÇC2#55 CRCTGEGGPNCRCPVCNNC2WNUGNCVGENCFGGPVTCFC
Ő .CRCPVCNNCOWGUVTCGNGUVCFQFGNCEQPVTCUGÇCCEVKXCFC1P QFGUCEVKXCFC1(( 5KFGUGC
OQFKHKECTNQRWNUGNCVGENCFGGPVTCFC
Ő %CODKGGNXCNQTEQPNCUVGENCUFGFGURNC\COKGPVQ
[
Ő 5GNGEEKQPG1P [RWNUGNCVGENCFGGPVTCFC
Ő 'UETKDCNCPWGXCEQPVTCUGÇC[RWNUGNCVGENCFGGPVTCFC
RCTCEQPHKTOCT
Ő 8WGNXCCGUETKDKTNCEQPVTCUGÇC[RWNUGNCVGENCFGGPVTCFC
RCTCEQPHKTOCT
Ő 1P CRCTGEGGPGNFKURNC[2WNUGNCVGENCFGTGCTOGRCTCXQNXGTCNCRCPVCNNCFGRCT±OGVTQU
.CUEQPVTCUGÇCURGTFKFCUPQRWGFGPTGEWRGTCTUG)WCTFGNCEQPVTCUGÇCGPWP
NWICTUGIWTQ
+PXQECEKÉPFGOQFKHKECEKÉPFGCLWUVGUFGRTQVGEEKÉP
2TQVGEEKQPGU
5GRTQRQTEKQPCWPCUGTKGFGCLWUVGUFGRTQVGEEKÉP.CURCPVCNNCUFGRTQVGEEKÉPGUV±PPWOGTCFCU2T
GNRKEVQITCOCOQUVTCFQEQPNCRCPVCNNCFGRTQVGEEKÉPKPFKECGNQDLGVQFGNCRTQVGEEKÉP
.CUEQODKPCEKQPGURQUKDNGUUQP2T UGIWKFQFGWPPÐOGTQ[WPQFGNQURKEVQITCOCUUKIWKGPVGU
2KEVQITCOC &GUKIPCEKÉP
2T EQPGNRKEVQITCOCFGRTGUKÉPKPFKECNCU
RTQVGEEKQPGUFGRTGUKÉP
2T EQPGNRKEVQITCOCFGVGORGTCVWTCFG
UCNKFCFGNGNGOGPVQKPFKECNCURTQVGEEKQPGUFG
VGORGTCVWTCFGUCNKFCFGNGNGOGPVQ
2T EQPGNRKEVQITCOCFGVGORGTCVWTCFGN
RWPVQFGTQEÃQKPFKECNCURTQVGEEKQPGUFG
VGORGTCVWTCFGNRWPVQFGTQEÃQ
2T EQPGNRKEVQITCOCFGVGORGTCVWTC
CODKGPVGKPFKECNCURTQVGEEKQPGUFGVGORGTCVWTC
CODKGPVG
/CPWCNFGKPUVTWEEKQPGU
'ZKUVGPEWCVTQCLWUVGUFGRTQVGEEKÉPRQUKDNGU
Ő 7PPKXGNDCLQFGCXKUQOQUVTCFQGPGNFKURNC[EQOQ#..
Ő 7PPKXGNCNVQFGCXKUQOQUVTCFQGPGNFKURNC[EQOQ#.*
Ő 7PPKXGNDCLQFGRCTCFCFGCNCTOCOQUVTCFQGPGNFKURNC[EQOQ5F.
Ő 7PPKXGNCNVQFGRCTCFCFGCNCTOCOQUVTCFQGPGNFKURNC[EQOQ5F*
'LGORNQFGNCRCPVCNNCFGRTQVGEEKÉP
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\EC2T UGIWKFQFGWPPÐOGTQ[NCVGORGTCVWTCFGUCNKFC
FGNGNGOGPVQ[CEQPVKPWCEKÉPRWNUGNCVGENCFGGPVTCFC
u%
2T
#.*
Ő 'NPKXGNFGCXKUQFGVGORGTCVWTCCNVC#.* [GNPKXGNFGRCTCFCFGVGORGTCVWTCCNVC5F*
7VKNKEGNCUVGENCUFGFGURNC\COKGPVQ
[RCTCECODKCTFGNPKXGNFGCXKUQCNPKXGNFGRCTCFC[RWNUG
NCVGENCFGGPVTCFC
RCTCOQFKHKECTGNXCNQT
Ő 'NXCNQTCRCTGEGGPGNFKURNC[
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCOQFKHKECTGNXCNQT
Ő 'URQUKDNGSWGUGPGEGUKVGWPCEQPVTCUGÇCQREKQPCNGNXCNQTEQOKGP\CCRCTRCFGCT[UGRWGFGP
WVKNK\CTNCUVGENCUEQPHNGEJC
[
RCTCOQFKHKECTGNXCNQT
Ő 2WNUGNCVGENCFGGPVTCFC
RCTCRTQITCOCTGNXCNQTPWGXQQRWNUGNCVGENCFGTGCTOGRCTCECPEGNCT
/CPWCNFGKPUVTWEEKQPGU
.QUCLWUVGURTQITCOCDNGUUÉNQRWGFGPOQFKHKECTUGFGPVTQFGWPQUNÃOKVGU
RGTOKVKFQU
2CPVCNNCUFGRTWGDC
'PUC[QFGFKURNC[
'ORG\CPFQFGUFGNC2CPVCNNCRTKPEKRCN
DCT
Ő 2WNUGNCVGENCEQPHNGEJC
JCUVCSWGCRCTG\ECV [RWNUGCEQPVKPWCEKÉPNCVGENCFGGPVTCFC
2TWGDCFGNCX±NXWNCUGIWTKFCF
'PNCRCPVCNNCFGRTWGDCV UGKPENW[GWPCRTWGDCFGNCX±NXWNCFGUGIWTKFCF.CUX±NXWNCUFG
UGIWTKFCFUÉNQRWGFGPRTQDCTUGFGURW¾UFGKPVTQFWEKTWPEÉFKIQ5KVKGPGSWGRTQDCTNCUX±NXWNCUFG
UGIWTKFCFEQPUWNVGC#VNCU%QREQ
/CPWCNFGKPUVTWEEKQPGU
#LWUVGURTQITCOCDNGU
2CT±OGVTQURTGUKQPGUFGFGUECTICECTICRCTC)#2CEM
/CPWCNFGKPUVTWEEKQPGU
2CT±OGVTQURTGUKQPGUFGFGUECTICECTICRCTC)#(WNN(GCVWTG[)0
/CPWCNFGKPUVTWEEKQPGU
2CT±OGVTQU
/CPWCNFGKPUVTWEEKQPGU
2TQVGEEKQPGU
#XKUQFGUGTXKEKQ
%QPUWNVGVCODK¾PNCUGEEKÉP2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
%QPUWNVGC#VNCU%QREQUKJC[SWGECODKCTWPCLWUVGFGVGORQTK\CFQT.QUKPVGTXCNQUPQRWGFGPGZEGFGT
NQUKPVGTXCNQUPQOKPCNGU[FGDGPEQKPEKFKTNÉIKECOGPVG%QPUWNVGNCUGEEKÉP+PXQECEKÉPOQFKHKECEKÉPFGN
VGORQTK\CFQTFGUGTXKEKQ
6GTOKPQNQIÃC
6¾TOKPQ +PVGTRTGVCEKÉP
#4#8( 4GCTTCPSWGCWVQO±VKEQFGURW¾UFGKPVGTTWREKÉPFGNXQNVCLG%QPUWNVGNCUGEEKÉP
4GIWNCFQT'NGMVTQPKMQP+
6GORGTCVWTCFG 'NTGIWNCFQTUGPGICT±CCEGRVCTCLWUVGUKNÉIKEQURGLUKGNPKXGNFGCXKUQGUV±
UCNKFCFGN RTQITCOCFQCu%u(GNNÃOKVGOÃPKOQFGNPKXGNFGRCTCFCUGECODKCT±C
GNGOGPVQ u%u(.CFKHGTGPEKCTGEQOGPFCFCGPVTGGNPKXGNFGCXKUQ[GNPKXGNFGRCTCFC
EQORTGUQT FGCNCTOCGUFGu%u(
4GVTCUQCNC 'UGNRGTÃQFQFWTCPVGGNEWCNFGDGGZKUVKTNCUGÇCNCPVGUFGSWGUGRCTGGNEQORTGUQT
UGÇCNFGRCTCFC 5KGURTGEKUQSWGUGRTQITCOGGUVGCLWUVGCQVTQXCNQTEQPUWNVGC#VNCU%QREQ
FGCNCTOC
6KGORQFG 'UGNRGTÃQFQFWTCPVGGNEWCNFGDGTGUVCDNGEGTUGGNXQNVCLGRCTCXQNXGTCCTTCPECT
TGUVCDNGEKOKGPVQ CWVQO±VKECOGPVG#EEGUKDNGUKGUV±CEVKXCFQGNTGCTTCPSWGCWVQO±VKEQ%QPUWNVG
FGRQVGPEKC 4GIWNCFQT'NGMVTQPKMQP+2CTCCEVKXCTNCHWPEKÉPFGTGCTTCPSWGCWVQO±VKEQEQPUWNVG
C#VNCU%QREQ
6KGORQFG 7PCXG\RCTCFQCWVQO±VKECOGPVGGNEQORTGUQTSWGFCT±RCTCFQRQTGNVKGORQ
RCTCFCOÃPKOQ OÃPKOQFGRCTCFC
UGIWPFQUCRTQZKOCFCOGPVGRCUGNQSWGRCUGEQPNCRTGUKÉP
FGNCTGFFGCKTG%QPUWNVGC#VNCU%QREQUKTGSWKGTGWPCLWUVGKPHGTKQTC
UGIWPFQU
2TGUKÉPFG 'NTGIWNCFQTPQCEGRVCT±CLWUVGUKNÉIKEQURGLUKNCRTGUKÉPFGFGUECTICGUV±
FGUECTICECTIC RTQITCOCFCCDCT
GRUKIGNNÃOKVGO±ZKOQFGNCRTGUKÉPFGECTICUG
ECODKCT±CDCT
GRUKI.COÃPKOCFKHGTGPEKCFGRTGUKÉPTGEQOGPFCFCGPVTG
ECTIC[FGUECTICGUFGDCTRUKI
/CPWCNFGKPUVTWEEKQPGU
+PUVCNCEKÉP
&KDWLQUFGFKOGPUKQPGU
&KDWLQUFGFKOGPUKQPGU)#C)#
)#C)#2CEMOQPVCFQGPGNUWGNQ
/CPWCNFGKPUVTWEEKQPGU
)#C)#(WNN(GCVWTGOQPVCFQGPGNUWGNQ
/CPWCNFGKPUVTWEEKQPGU
)#C)#2CEMOQPVCFQGPFGRÉUKVQ
/CPWCNFGKPUVTWEEKQPGU
)#C)#(WNN(GCVWTGOQPVCFQGPFGRÉUKVQ
/CPWCNFGKPUVTWEEKQPGU
4GH &GUKIPCEKÉP
'PVTCFCFGCKTGFGNEQORTGUQT
'PVTCFCFGCKTGFGTGHTKIGTCEKÉP[OQVQT
5CNKFCFGCKTGEQORTKOKFQ
5CNKFCFGCKTGFGTGHTKIGTCEKÉPFGNEQORTGUQT[OQVQT
'PVTCFCFGECDNGGN¾EVTKEQ
'PVTCFCFGCKTGFGTGHTKIGTCEKÉPFGNUGECFQT
5CNKFCFGCKTGFGTGHTKIGTCEKÉPFGNUGECFQT
2WPVQFGFTGPCLGCWVQO±VKEQ
2WPVQFGFTGPCLGOCPWCN
2TQRWGUVCFGKPUVCNCEKÉP
'LGORNQFGUCNCFGEQORTGUQTGU
/CPWCNFGKPUVTWEEKQPGU
&GUETKREKÉP
+PUVCNGGNEQORTGUQTUQDTGWPUWGNQPKXGNCFQ[UÉNKFQSWGRWGFCUQRQTVCTUWRGUQ
.CFKUVCPEKCOÃPKOCTGEQOGPFCFCGPVTGNCRCTVGUWRGTKQTFGNCWPKFCF[GNVGEJQGU
FGOO
RWNI.CFKUVCPEKCGPVTGNCWPKFCF[NCURCTGFGUFGENCTCFCUGUGN
OÃPKOQ
.CFKUVCPEKCTGEQOGPFCFCGUOORCTCHCEKNKVCTGNCEEGUQ
5GRTQJÃDGCVQTPKNNCTEQPRGTPQUGNFGRÉUKVQFGCKTGCNUWGNQ
2QUKEKÉPFGNCX±NXWNCFGUCNKFCFGCKTGEQORTKOKFQ
RWGFGWDKECTUGGPCODQUNCFQU
FGNFGRÉUKVQFGCKTG
'NNCTIQO±ZKOQFGNCUVWDGTÃCUVQVCNGU
KPENWUQNCVWDGTÃCFGKPVGTEQPGZKÉPGPVTGGN
EQORTGUQT[GNFGRÉUKVQUGECNEWNCFGNCHQTOCUKIWKGPVG
FR
.ZZ3E
FZR
FFK±OGVTQKPVGTKQTFGNVWDQFGUCNKFCGPOO
FRECÃFCFGRTGUKÉP
O±ZKOQTGEQOGPFCFQDCTRUK
.NQPIKVWFFGNVWDQFGUCNKFCGPO
RRTGUKÉPCDUQNWVCGPNCUCNKFCFGNEQORTGUQTGPDCT
C
3EUWOKPKUVTQFGCKTGNKDTGFGNEQORTGUQTGPNU
8GPVKNCEKÉPNCURCTTKNNCUFGCURKTCEKÉP[GNXGPVKNCFQTFGDGPKPUVCNCTUGFGHQTOCSWG
UGGXKVGNCTGEKTEWNCEKÉPFGNCKTGFGTGHTKIGTCEKÉPCNEQORTGUQT.CXGNQEKFCFO±ZKOC
FGNCKTGCVTCX¾UFGNCURCTTKNNCUGUFGOU
HVU
0QUGCFOKVGPEQPFWEVQUFGCKTGFGTGHTKIGTCEKÉP
.CVGORGTCVWTCO±ZKOCFGNCKTGGPNCVQOCFGNEQORTGUQTGUFGu%
u(
NC
OÃPKOCGUFGu%u(
3XECRCEKFCFFGXGPVKNCEKÉPTGSWGTKFCGPOU
0GPVTCFCCNGLGFGNEQORTGUQTGPM9
F6CWOGPVQFGVGORGTCVWTCGPUCNCFGNEQORTGUQT
'PVTCFCFGECDNGFGTGF
%QPGZKQPGUGN¾EVTKECU
&GUETKREKÉP
%QPUWNVGVCODK¾PNCUGEEKÉP&KCITCOCUGN¾EVTKEQU
+PUVCNGWPKPVGTTWRVQTUGRCTCFQT
%QORTWGDGSWGGUV±PDKGPUWLGVQUCUWUDQTPGUNQUECDNGUGJKNQUFGNOQVQTGPGNCTOCTKQGN¾EVTKEQ
%QORTWGDGNQUHWUKDNGU[GNCLWUVGFGNTGN¾FGUQDTGECTIC8¾CUGNCUGEEKÉP#LWUVGUFGTGN¾FG
UQDTGECTIC[HWUKDNGU
%QPGEVGNQUECDNGUFGUWOKPKUVTQFGRQVGPEKCCUWUDQTPGU..[.
%QPGEVGGNEQPFWEVQTPGWVTQCNEQPGEVQT
0
%QPGEVGGNRGTPQFGNEQPFWEVQTFGVKGTTC
2'
'POQFGNQUFGN)#CN)#(WNN(GCVWTG
Ő 'NUWOKPKUVTQFGXQNVCLGCNUGECFQTFGDGUGTOQPQH±UKEQFG85GUWOKPKUVTCGNXQNVCLGCNUGECFQT
RQTNQUEQPVCEVQUFGNTGN¾
-¾UVQUUGEKGTTCPCNCTTCPECTUGGNEQORTGUQT2CTCXQNVCLGUFG
UWOKPKUVTQFGNEQORTGUQTFKHGTGPVGUFGZ8O±UPGWVTQZ8NCCNKOGPVCEKÉPCNUGECFQT
NCUWOKPKUVTCWPVTCPUHQTOCFQT
/CPWCNFGKPUVTWEEKQPGU
2KEVQITCOCU
2KEVQITCOCUOQFGNQUFGN)#CN)#
4GHGTGPEKC &GUKIPCEKÉP
#XKUQEQPUWNVGGN.KDTQFGKPUVTWEEKQPGUGPNQTGHGTGPVGCNUGPVKFQFGIKTQFGNOQVQT
CPVGUFGEQPGEVCTGNEQORTGUQTGN¾EVTKECOGPVG
2CTGUFGCRTKGVGRCTCRGTPQUFGCEGTQ
(GQNCVÉP
%W<P
#XKUQCURKTCEKÉP
#EGKVCTNKIGTCOGPVGNCLWPVCFGNHKNVTQFGCEGKVGCVQTPKNNCT¾UVG[CRTGVCTCOCPQ
OGFKCXWGNVCCRTQZKOCFCOGPVG
%QPUWNVGGN.KDTQFGKPUVTWEEKQPGUCPVGUFGTGCNK\CTOCPVGPKOKGPVQ
#XKUQXQNVCLG
#XKUQRKG\CUECNKGPVGU
#PVGUFGCTTCPECTDNQSWGCTVQFCUNCUEQORWGTVCUFGNCECTTQEGTÃC
Ő 5KUGVKTCFGNCJQLCJCEKCCDCLQRCTCTGNEQORTGUQT[FGUEQPGEVCTGNXQNVCLG
Ő +PXKGTVCNCUFQUNÃPGCUFGGPVTCFC4GRKVCGNRCUQCPVGTKQT
Ő 5KNCJQLCUCNVCNCTQVCEKÉPFGNOQVQTGUEQTTGEVC
2WPVQFGFTGPCLGOCPWCNFGEQPFGPUCFQ
2WPVQFGFTGPCLGCWVQO±VKEQFGEQPFGPUCFQ
#XKUQFGUEQPGEVCTGNXQNVCLG[FGURTGUWTK\CTGNEQORTGUQTCPVGUFGTGCNK\CT
TGRCTCEKQPGU
#XKUQFGUEQPGEVGNCCNKOGPVCEKÉPGN¾EVTKECCPVGUFGCDTKT
/CPWCNFGKPUVTWEEKQPGU
+PUVTWEEKQPGUFGHWPEKQPCOKGPVQ
#PVGUFGNCTTCPSWGKPKEKCN
5GIWTKFCF
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCURTGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGUKPENWKFCU
NCUSWGUGKPFKECPGPGNRTGUGPVGOCPWCN
(WPEKQPCOKGPVQGPCNVKVWFGZVGTKQTGU
5KGNEQORTGUQTUGGPEWGPVTCKPUVCNCFQGPGZVGTKQTGUQUKGURQUKDNGSWGNCVGORGTCVWTCFGCURKTCEKÉPFGN
CKTGFGUEKGPFCRQTFGDCLQFG%(JC[SWGVQOCTRTGECWEKQPGU%QPUWNVGC#VNCU%QREQGPVCN
ECUQ[VCODK¾PUKHWPEKQPCCWPCCNVKVWFUWRGTKQTCO
HV
&GURNC\COKGPVQNGXCPVCOKGPVQ
7PKFCFOQPVCFCGPGNUWGNQGNEQORTGUQTRWGFGOQXGTUGEQPWPCECTTGVKNNCGNGXCFQTC2TQEWTGPQFCÇCT
PKPIWPCFGNCUEQPGZKQPGUKPUVCNCFCUFGDCLQFGNDCUVKFQTCNOQXGTNCECTTGVKNNCQGNEQORTGUQT2CTC
GNGXCTGNEQORTGUQTEQORTWGDGSWGNCUJQTSWKNNCUUGCPNQUWHKEKGPVGOGPVGNCTICURCTCRTQRQTEKQPCTWP
UQRQTVGGUVCDNG
7PKFCFOQPVCFCGPFGRÉUKVQOWGXCGNEQORTGUQTEQPWPCECTTGVKNNCGNGXCFQTCEQNQECPFQNCUJQTSWKNNCU
FGDCLQFGNQUUQRQTVGUFGGNGXCEKÉPSWGUGGPEWGPVTCPKPUVCNCFQUGPVTGNQURKGUFGNFGRÉUKVQFGCKTG
#UGIÐTGUGFGEQNQECTNCUJQTSWKNNCUGPGNEGPVTQFGNFGRÉUKVQFGCKTG[NGXCPVGEQPEWKFCFQ
#TTCPSWG[RCTCFCCFKUVCPEKCGPEQORTGUQTGUFQVCFQUFGNTGIWNCFQT'NGMVTQPKMQP+
&GLGSWGNCUOQFKHKECEKQPGUNCUEQORTWGDG#VNCU%QREQ2CTGGNEQORTGUQT[
FGUEQPGEVGGNXQNVCLGCPVGUFGEQPGEVCTGSWKRQGZVGTPQ5GRGTOKVGPÐPKECOGPVG
EQPVCEVQUNKDTGUFGXQNVCLG
#TTCPSWG[RCTCFCCFKUVCPEKC
Ő %QPGEVGWPDQVÉPFGCTTCPSWGRCTCFCRTQITCOCFCGPVTGNQUDQTPGU[FGNVCDNGTQFGDQTPGU
:%QPUWNVGNCUGEEKÉP5KUVGOCGN¾EVTKEQRCTCNQECNK\CTNCTGINGVCFGDQTPGU
#TTCPSWGKPKEKCN
5GIWTKFCF
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
/CPWCNFGKPUVTWEEKQPGU
2TQEGFKOKGPVQ
2CTCEQPQEGTNCWDKECEKÉPFGNCX±NXWNCFGUCNKFCFGCKTG[NCUEQPGZKQPGUFGFTGPCLG
EQPUWNVGNCUUGEEKQPGU+PVTQFWEEKÉP[5KUVGOCFGEQPFGPUCFQ
(KLCFQTGUFGVTCPURQTVGFGNOQVQT[ECLCFGGPITCPCLGU
2QUKEKÉPFGNCOKTKNNCFGPKXGNFGCEGKVG
/CPWCNFGKPUVTWEEKQPGU
%WDÃEWNQGN¾EVTKEQ
7DKECEKÉPFGNCJQLC
/CPWCNFGKPUVTWEEKQPGU
%QPUWNVGNCUUGEEKQPGU6COCÇQFGECDNGUGN¾EVTKEQU2TQRWGUVCUFGKPUVCNCEKÉP[&KDWLQUFG
FKOGPUKQPGU
*C[SWGSWKVCTNQUHKLCFQTGUFGVTCPURQTVGRKPVCFQUFGTQLQUKIWKGPVGU
Ő 2GTPQU
Ő %CUSWKNNQU
Ő 5QRQTVGU
%QORTWGDGSWGGUV±PJGEJCUNCUEQPGZKQPGUGN¾EVTKECUEQPHQTOGCNQUEÉFKIQUNQECNGU[SWG
VQFQUNQUECDNGUGUV±PDKGPUWLGVQUCUWUDQTPGU
'NGSWKRQFGDGRQPGTUGCVKGTTC[RTQVGIGTUGFGEQTVQEKTEWKVQURQTOGFKQFGHWUKDNGUFGVKRQ
KPGTVGGPVQFCUNCUHCUGU&GDGKPUVCNCTUGWPKPVGTTWRVQTUGRCTCFQTEGTECFGNEQORTGUQT
%QORTWGDGSWGGNVTCPUHQTOCFQT
6GUV±DKGPEQPGEVCFQ
2CTCWPKFCFGU(WNN(GCVWTGGZEGRVQRCTCXQNVCLGUFGXQNVCLGU8[8
0EQORTWGDG
SWGGNVTCPUHQTOCFQT
6GUV±DKGPEQPGEVCFQ
%QORTWGDGGNCLWUVGFGNTGN¾FGUQDTGECTICFGNOQVQTFGCEEKQPCOKGPVQ
(
%QORTWGDGSWGGNTGN¾FGUQDTGECTICXCCLWUVCFQRCTCTGCTOGOCPWCN
+PUVCNGNCX±NXWNCFGUCNKFCFGCKTG
#8EQPUWNVGNCUGEEKÉP+PVTQFWEEKÉPRCTCEQPQEGTNC
WDKECEKÉPFGNCX±NXWNC
%KGTTGNCX±NXWNC
%QPGEVGNCTGFFGCKTGCNCX±NXWNC
'PEQORTGUQTGUGSWKRCFQUEQPWPCFGTKXCEKÉPFGUGECFQTKPUVCNGNCX±NXWNCFGUCNKFCFGCKTGGP
GNVWDQFGFGTKXCEKÉPFGNUGECFQT
%QPGEVGNCUUCNKFCUFGFTGPCLGFGNEQPFGPUCFQCWPEQNGEVQTFGFTGPCLG
%QPUWNVGNCUGEEKÉP5KUVGOCFGEQPFGPUCFQ
%QORTWGDGGNPKXGNFGCEGKVG8¾CUGNCUGEEKÉP%CODKQFGCEGKVG[HKNVTQUFGCEGKVG
2TQX¾CUGFGCFJGUKXQUSWGCXKUGPCNQRGTCFQTFGSWG
Ő 'URQUKDNGSWGGNEQORTGUQTXWGNXCCCTTCPECTCWVQO±VKECOGPVGFGURW¾UFGKPVGTTWREKÉPFGN
XQNVCLG
UKGUV±CEVKXCFQEQPUWNVGC#VNCU%QREQ
Ő 'NEQORTGUQTXCEQPVTQNCFQCWVQO±VKECOGPVG[RWGFGSWGCTTCPSWGGPEWCNSWKGTOQOGPVQ
(KLGNCJQLC
SWGGZRNKECGNRTQEGFKOKGPVQFGEQORTQDCEKÉPFGNCFKTGEEKÉPFGTQVCEKÉPFGN
OQVQTCNCUCNKFCFGCKTGFGTGHTKIGTCEKÉPFGNEQORTGUQT%QPUWNVGNCUGEEKÉP&KDWLQUFG
FKOGPUKQPGU
%QPGEVGGNXQNVCLG#TTCPSWGGNEQORTGUQT[R±TGNQCNKPUVCPVG%QORTWGDGNCFKTGEEKÉPFG
TQVCEKÉPFGNOQVQTFGCEEKQPCOKGPVQ
/EWCPFQIKTCRQTKPGTEKCJCUVCRCTCT
%QORTWGDGNCTQVCEKÉPFGNOQVQTWUCPFQNCJQLC
5KNCFKTGEEKÉPFGTQVCEKÉPFGNOQVQTGU
EQTTGEVCNCGVKSWGVCFGNCRCTTKNNCFGNCRCTVGUWRGTKQTUCNVCT±5KNCJQLCRGTOCPGEGGPUW
RQUKEKÉPNCFKTGEEKÉPFGTQVCEKÉPGUKPEQTTGEVC
5KNCFKTGEEKÉPFGTQVCEKÉPFGNOQVQTFGCEEKQPCOKGPVQGUKPEQTTGEVCCDTCGNKPVGTTWRVQT
UGRCTCFQTGKPXKGTVCFQUNÃPGCUGN¾EVTKECUFGGPVTCFC
4GN¾FGUGEWGPEKCFGHCUGUQREKQPCN
Ő 5KGNEQORTGUQTPQNQITCTCCTTCPECTEQORTWGDGGNFKURNC[
Ő 5KGNFKURNC[OWGUVTCGNRKEVQITCOCFGUQDTGECTICFGNOQVQTEQORTWGDGGNTGN¾FGUGEWGPEKC
FGHCUG
7PCFKTGEEKÉPFGTQVCEKÉPKPEQTTGEVCFGNOQVQTFGCEEKQPCOKGPVQRWGFGECWUCTFCÇQUCN
EQORTGUQT
'PEQORTGUQTGUGSWKRCFQUEQPWPTGIWNCFQT'NGMVTQPKMQP+EQORTWGDGNQUCLWUVGUX¾CUGNC
UGEEKÉP#LWUVGU
2QPICGNEQORTGUQTGPOCTEJC[FGLGSWGHWPEKQPGFWTCPVGCNIWPQUOKPWVQU%QORTWGDGSWGGN
EQORTGUQTHWPEKQPCEQPPQTOCNKFCF
/CPWCNFGKPUVTWEEKQPGU
#PVGUFGCTTCPECT
2TQEGFKOKGPVQ
%QORTWGDGGNPKXGNFGCEGKVGCÇCFCUKGURTGEKUQ8¾CUGNCUGEEKÉP#TTCPSWGKPKEKCN
#TTCPSWG
2TQEGFKOKGPVQ
2CTCEQPQEGTNCRQUKEKÉPFGNCX±NXWNCFGUCNKFCFGCKTG[NCUEQPGZKQPGUFGFTGPCLG
EQPUWNVGNCUUGEEKQPGU+PVTQFWEEKÉP[5KUVGOCFGEQPFGPUCFQ
2CPGNFGEQPVTQNFG'NGMVTQPKMQP+
2CUQ #EEKÉP
%QPGEVGGNXQNVCLG%QORTWGDGSWGUGGPEKGPFGGN.'&FGXQNVCLGEQPGEVCFQ
#DTCNCX±NXWNCFGUCNKFCFGCKTG
2WNUGGNDQVÉPFGCTTCPSWG
FGNRCPGNFGEQPVTQN'NEQORTGUQTUGRQPGGPOCTEJC[GN.'&
FGHWPEKQPCOKGPVQCWVQO±VKEQ
UGGPEKGPFG&KG\UGIWPFQUFGURW¾UFGCTTCPECTGNOQVQTFG
CEEKQPCOKGPVQEQPOWVCFGGUVTGNNCCVTK±PIWNQ[GNEQORTGUQTGORKG\CCHWPEKQPCTGPECTIC
/CPWCNFGKPUVTWEEKQPGU
&WTCPVGGNHWPEKQPCOKGPVQ
2TQEGFKOKGPVQ
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU%QPUWNVG
VCODK¾PNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU
.CTGVKTCFCFGNRCPGNHTQPVCN
RCPGNFGUGTXKEKQFWTCPVGGNHWPEKQPCOKGPVQRTQXQECT±GN
CRCICFQCWVQO±VKEQFGNCWPKFCFFGURW¾UFGEKGTVQVKGORQUGIÐPNCXGTUKÉPFGN
EQORTGUQT
5KNQUOQVQTGUGUV±PFGVGPKFQU[GN.'&
GPEGPFKFQNQUOQVQTGURQFTÃCPRQPGTUGGP
OCTEJCCWVQO±VKECOGPVG
2CPGNFGEQPVTQN'NGMVTQPKMQP+
7DKECEKÉPFGNCOKTKNNCFGPKXGNFGCEGKVGFG)#C)#
2WNUGGNDQVÉPFGRCTCFCEKGTTGNCX±NXWNCFGUCNKFCFGCKTG[CDTCNQUFKURQUKVKXQUFGFTGPCLGOCPWCNFGN
EQPFGPUCFQ
UKNQUJWDKGTC%QPUWNVGNCUGEEKÉP+PVTQFWEEKÉP[NCUGEEKÉP5KUVGOCFGEQPFGPUCFQRCTC
EQPQEGTNCWDKECEKÉPFGNCX±NXWNCFGUCNKFCGNFKURQUKVKXQFGFTGPCLGFGCIWC
2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC
/CPWCNFGKPUVTWEEKQPGU
%QORTWGDGGNPKXGNFGCEGKVGCKPVGTXCNQUTGIWNCTGU6TGUOKPWVQUFGURW¾UFGRCTCTNCOKTKNNC
)NFGDG
GPEQPVTCTUGGPVTG[NNGPC'URGTGJCUVCSWGUGRCTGGNEQORTGUQT
UGIWPFQUFGURTGUWTKEGGN
UKUVGOCFGCEGKVGFGUCVQTPKNNCPFQGNVCRÉPFGNNGPCFQFGCEGKVG
(%WPCUQNCXWGNVC[GURGTGWPQU
OKPWVQU'ZVTCKICGNVCRÉP[CÇCFCCEGKVGJCUVCNNGPCTGNPKXGNFGNCOKTKNNC+PUVCNG[CRTKGVGGNVCRÉP
(%
5KGUV±GPEGPFKFQGN.'&FGHWPEKQPCOKGPVQCWVQO±VKEQ
GNTGIWNCFQTIQDKGTPCGNEQORTGUQT
CWVQO±VKECOGPVGGUFGEKTECTICTFGUECTICTRCTCTNQUOQVQTGU[XQNXGTCCTTCPECT
%QORTWGDGSWGUGFGUECTICEQPFGPUCFQFWTCPVGGNHWPEKQPCOKGPVQCKPVGTXCNQUTGIWNCTGU%QPUWNVGNC
UGEEKÉP5KUVGOCFGEQPFGPUCFQ
%QORTQDCTGNFKURNC[
2TQEGFKOKGPVQ
2CPGNFGEQPVTQN'NGMVTQPKMQP+
'PEQORTGUQTGUGSWKRCFQUEQPWPTGIWNCFQT'NGMVTQPKMQP+EQORTWGDGGNFKURNC[
TGIWNCTOGPVGNQU
RKEVQITCOCUKPFKECPGNGUVCFQFGNEQORTGUQTX¾CUGNCUGEEKÉP2KEVQITCOCUWVKNK\CFQUGPNCRCPVCNNC
*CICNCUIGUVKQPGUPGEGUCTKCUUKGUV±GPEGPFKFQQRCTRCFGCGN.'&FGCNCTOC
X¾CPUGNCUUGEEKQPGU
#XKUQFGUGTXKEKQ#XKUQFGRCTCFCFGCNCTOC[2CTCFCFGCNCTOC
2CTCFC
4GIWNCFQT'NGMVTQPKMQP
2CPGNFGEQPVTQNFG'NGMVTQPKMQP+
/CPWCNFGKPUVTWEEKQPGU
2TQEGFKOKGPVQ
2CUQ #EEKÉP
2WNUGGNDQVÉPFGRCTCFC
'N.'&FGHWPEKQPCOKGPVQCWVQO±VKEQ
UGCRCIC[GN
EQORTGUQTUGFGVKGPGVTCPUEWTTKFQUUGIWPFQUFGHWPEKQPCOKGPVQUKPECTIC
2CTCRCTCTGNEQORTGUQTGPECUQFGGOGTIGPEKCRWNUGGNDQVÉPFGRCTCFCFG
GOGTIGPEKC
'N.'&FGCNCTOC
RCTRCFGC
'PEQORTGUQTGUEQP'NGMVTQPKMQP+FGURW¾UFGUQNWEKQPCTNCCXGTÃCVKTGFGNDQVÉP
RCTCFGUDNQSWGCTNQ[RWNUGNCVGENCFGTGCTOG
CPVGUFGTGCTTCPECT
%KGTTGNCX±NXWNCFGUCNKFCFGCKTG
#8EQPUWNVGNCUGEEKÉP+PVTQFWEEKÉP
#DTCGNRWPVQFGFTGPCLGOCPWCN
&O
&GUEQPGEVGGNXQNVCLG
2WGUVCHWGTCFGUGTXKEKQ
#XKUQ
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
2TQEGFKOKGPVQ
2CUQ #EEKÉP
2CTGGNEQORTGUQT[EKGTTGNCX±NXWNCFGUCNKFCFGCKTG
#DTCGNRWPVQFGFTGPCLGOCPWCNFGEQPFGPUCFQ
UKNQJWDKGTC%QPUWNVGNCUGEEKÉP
5KUVGOCFGEQPFGPUCFQRCTCNQECNK\CTNCX±NXWNCFGFTGPCLG
&GUEQPGEVGGNXQNVCLG[UGRCTGGNEQORTGUQTFGNCTGFOCVTK\
FGUCVQTPKNNGGNVCRÉPFGNNGPCFQFGCEGKVGWPCUQNCXWGNVCPQO±UCHKPFGRGTOKVKT
SWGGUECRGNCRTGUKÉPGXGPVWCNFGNUKUVGOC
%QPUWNVGNCUGEEKÉP%CODKQFGCEGKVG[HKNVTQUFGCEGKVGRCTCNQECNK\CTGNVCRÉPFG
NNGPCFQ
%KGTTG[FGURTGUWTKEGNCRCTVGFGNCTGFFGCKTGEQPGEVCFCCNCX±NXWNCFGUCNKFC
5GRCTGGNVWDQFGUCNKFCFGCKTGFGNEQORTGUQTFGNCTGFFGCKTG
8CEÃGGNCEGKVG
8CEÃGGNEKTEWKVQFGEQPFGPUCFQ[FGUEQPGEVGNQUVWDQUFGEQPFGPUCFQFGNCTGFFG
EQPFGPUCFQ
/CPWCNFGKPUVTWEEKQPGU
/CPVGPKOKGPVQ
2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
2CPGNFGEQPVTQN
2CPGNFGEQPVTQN'NGMVTQPKMQP+
#XKUQ
#PVGUFGNNGXCTCECDQEWCNSWKGTQRGTCEKÉPFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVG
RTQEGFCFGNCUKIWKGPVGOCPGTC
Ő 2CTGGNEQORTGUQT
Ő 2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC
Ő &GUEQPGEVGGNXQNVCLG
Ő %KGTTGNCX±NXWNCFGUCNKFCFGCKTG[CDTCNCUX±NXWNCUFGFTGPCLGOCPWCNFGN
EQPFGPUCFQUKGZKUVGP
Ő &GURTGUWTKEGGNEQORTGUQT
2CTCQDVGPGTKPUVTWEEKQPGUFGVCNNCFCUEQPUWNVG5QNWEKÉPFGRTQDNGOCU
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
)CTCPVÃC[TGURQPUCDKNKFCFFGNRTQFWEVQ
7VKNKEGÐPKECOGPVGRKG\CUCWVQTK\CFCU%WCNSWKGTFCÇQQCXGTÃCTGUWNVCPVGFGNWUQFGRKG\CUPQ
CWVQTK\CFCUPQGUV±EWDKGTVQRQTNC)CTCPVÃCPKRQTNC4GURQPUCDKNKFCFFGN2TQFWEVQ
,WGIQUFGUGTXKEKQ
UGTXKEGMKVU
5GGPEWGPVTCPFKURQPKDNGU UGTXKEGMKVU RCTCTGXKUKQPGUQOCPVGPKOKGPVQRTGXGPVKXQ
X¾CUGNC
UGEEKÉP,WGIQUFGUGTXKEKQ
UGTXKEGMKVU
%QPVTCVQUFGUGTXKEKQ
#VNCU%QREQQHTGEGXCTKQUVKRQUFGEQPVTCVQUFGUGTXKEKQGXKV±PFQNGCUÃEWCNSWKGTVTCDCLQFG
OCPVGPKOKGPVQRTGXGPVKXQ%QPUWNVGCN%GPVTQFG5GTXKEKQC%NKGPVGUFG#VNCU%QREQ
)GPGTCNKFCFGU
#NTGXKUCTECODKGVQFCUNCULWPVCULWPVCUVÉTKECU[CTCPFGNCUFGUOQPVCFCU
/CPWCNFGKPUVTWEEKQPGU
+PVGTXCNQU
'N%GPVTQFG5GTXKEKQC%NKGPVGUFG#VNCU%QREQNQECNRWGFGQDXKCTGNRTQITCOCFGOCPVGPKOKGPVQ
GURGEKCNOGPVGGPNQSWGUGTGHKGTGCNQUKPVGTXCNQUFGUGTXKEKQGPHWPEKÉPFGNCUEQPFKEKQPGUCODKGPVCNGU
[FGVTCDCLQFGNEQORTGUQT
.CUEQORTQDCEKQPGUFGNQUKPVGTXCNQUNCTIQUFGDGPVCODK¾PKPENWKTNCUFGNQUKPVGTXCNQUEQTVQU
#EEKQPGUFGUGTXKEKQRCTCEQORTGUQTGUEQPTGIWNCFQT'NGMVTQPKMQP+
#FGO±UFGNCUEQORTQDCEKQPGUFKCTKCU[VTKOGUVTCNGUNCUQRGTCEKQPGUFGUGTXKEKQUGCITWRCPGP
KPVGTXCNQUFGVKGORQ
JQTCUFGHWPEKQPCOKGPVQ'NTGIWNCFQTGUV±FQVCFQFGWPVGORQTK\CFQTFGUGTXKEKQ
RTQITCOCDNG#RCTGEGT±WPCXKUQFGUGTXKEKQCNCNECP\CTGNVGORQTK\CFQTFGUGTXKEKQGNKPVGTXCNQFG
VKGORQRTQITCOCFQEQPUWNVGNCUGEEKÉP#XKUQFGUGTXKEKQ'PVCNECUQJC[SWGEQORTQDCTNCUJQTCUFG
HWPEKQPCOKGPVQ4GCNKEGNCUQRGTCEKQPGUFGUGTXKEKQSWGEQTTGURQPFGPCNCUJQTCUFGHWPEKQPCOKGPVQ
GURGEKHKECFCUGPGNRTQITCOCUKIWKGPVG4GCTOGGNVGORQTK\CFQTFGUGTXKEKQFGURW¾UFGCECDCFQGN
UGTXKEKQEQPUWNVGNCUGEEKÉP+PXQECEKÉPTGCTOGFGVGORQTK\CFQTFGUGTXKEKQ
2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
)GPGTCNKFCFGU
2GTÃQFQ 1RGTCEKÉP
&KCTKQ %QORTWGDGGNPKXGNFGNCEGKVG
ŋ %QORTWGDGNCUKPFKECEKQPGUGPGNFKURNC[
ŋ %QORTWGDGSWGUGFGUECTICEQPFGPUCFQFWTCPVGNCECTIC
ŋ 2WTIWGGNEQPFGPUCFQ
ŋ %QORTWGDGGNKPFKECFQTFGUGTXKEKQFGNQUHKNVTQU&&Z[2&Z
UKNQUJWDKGTC
%CFCOGUGU %QORTWGDGNQUTGHTKIGTCFQTGUNÃORKGNQUGPECUQRTGEKUQ
ŋ 2CTCWPKFCFGU(WNN(GCVWTGEQORTWGDGGNEQPFGPUCFQTFGNUGECFQT[NÃORKGNQUKGU
PGEGUCTKQ
ŋ 'ZVTCKICGNGNGOGPVQHKNVTCPVGFGCKTG.KORKCTEQPEJQTTQFGCKTG[TGXKUCT
/±UCOGPWFQUKUGVTCDCLCGPWPCODKGPVGRQNXQTKGPVQ
4GGORNCEGGNGOGPVQUFCÇCFQUQOW[EQPVCOKPCFQU
ŋ 4GGORNCEGGNGNGOGPVQFGHKNVTQFGNEWDÃEWNQ
#PWCNOGPVG 4GGORNCEGNQUHKNVTQU&&Z[2&ZQGPEWCPVQGNKPFKECFQTFGRTGUKÉPCRWPVGCNC
\QPCTQLC
2CTC)#C)#
*QTCUFG 1RGTCEKÉP
HWPEKQPCOKGPVQ
5KUGWVKNK\C4QVQ(QQFITCFG(NWKFFG#VNCU%QREQECODKGGNCEGKVG
5KUGWVKNK\C4QVQKPLGEV(NWKFFG#VNCU%QREQECODKGGNCEGKVG
4GGORNCEGGNGNGOGPVQHKNVTCPVGFGCKTG
4GGORNCEGGNGNGOGPVQFGHKNVTQFGNEWDÃEWNQ
.KORKGNQUTGHTKIGTCFQTGU
2CTCWPKFCFGU(WNN(GCVWTGNKORKGGNEQPFGPUCFQTFGNUGECFQT
4GGORNCEGGNHKNVTQ[UGRCTCFQTFGCEGKVG
%QORTWGDGNCUNGEVWTCUFGRTGUKÉP[VGORGTCVWTC
.NGXGCECDQWPCRTWGDCFGNQU.'&FKURNC[
/CPWCNFGKPUVTWEEKQPGU
*QTCUFG 1RGTCEKÉP
HWPEKQPCOKGPVQ
%QORTWGDGRQTUKJC[HWICUFGCKTG
'PWPKFCFGU2CEMGZVTCKICFGUOCPVGNG[NKORKGNCX±NXWNCFGHNQVCFQTFGNEQNGEVQT
FGEQPFGPUCFQ%QPUWNVGNCUGEEKÉP5KUVGOCFGEQPFGPUCFQ
2TWGDGNCHWPEKÉPFGRCTCFCFGVGORGTCVWTC
2TWGDGNCUX±NXWNCUFGUGIWTKFCF
5KUGWVKNK\C4QVQ:VGPF&WV[(NWKFFG#VNCU%QREQECODKGGNCEGKVG
+ORQTVCPVG
Ő %QPUWNVGUKGORTGC#VNCU%QREQRCTCOQFKHKECTGNCLWUVGFGWPVGORQTK\CFQT
Ő 2CTCEQPQEGTGNKPVGTXCNQFGECODKQFGCEGKVG[HKNVTQFGCEGKVGGPEQPFKEKQPGU
GZVTGOCUFGVGORGTCVWTCJWOGFCFQCKTGFGTGHTKIGTCEKÉPEQPUWNVGC#VNCU
%QREQ
Ő &GDGTGRCTCTEWCNSWKGTHWICKPOGFKCVCOGPVG*C[SWGUWUVKVWKTVWDGTÃCUQLWPVCU
HNGZKDNGUFCÇCFCU
/QVQTFGCEEKQPCOKGPVQ
2CTC)#C)#
.QUEQLKPGVGUFGNOQVQTGUV±PNWDTKECFQUFGRQTXKFC
'URGEKHKECEKQPGUFGNCEGKVG
0QOG\ENGPWPECCEGKVGUFGOCTECUQVKRQUFKHGTGPVGU
2CTCCUGIWTCTWPCDWGPCECNKFCFFGNCEGKVGFTGPGGNEQORTGUQTGPVQFQUNQURWPVQU
FGFTGPCLG.QUCEGKVGUWUCFQUSWGUGFGLCPGPGNEQORTGUQTRWGFGPEQPVCOKPCTGN
UKUVGOCFGCEGKVG
5GTGEQOKGPFCOW[GPECTGEKFCOGPVGWVKNK\CT#VNCU%QREQ(NWKF
EQPUWNVGNCUGEEKÉP2TQITCOCFG
OCPVGPKOKGPVQRTGXGPVKXQ
#VNCU%QREQ4QVQ+PLGEV(NWKF
#EGKVGRCTCWPKFCFGU+'%[WPKFCFGU%5#7.EQPWPXQNVCLGFGOQVQTFG8
#VNCU%QREQ4QVQ+PLGEV(NWKFGUWPCEGKVGGURGEKCNRCTCEQORTGUQTGUFGGURKTCN[VQTPKNNQEQPKP[GEEKÉP
FGCEGKVGSWGOCPVKGPGGNEQORTGUQTGPGZEGNGPVGGUVCFQ4QVQ+PLGEV(NWKFRWGFGWVKNK\CTUGRCTC
EQORTGUQTGUSWGHWPEKQPGPCWPCVGORGTCVWTCCODKGPVGFGGPVTGu%
u([u%
u(
EQPUWNVGNCUGEEKÉP,WGIQUFGUGTXKEKQ
/CPWCNFGKPUVTWEEKQPGU
#VNCU%QREQ4QVQ:VGPF&WV[(NWKF
#EGKVGRCTCWPKFCFGU%5#7.[,20GZEGRVQRCTCWPKFCFGUEQPWPXQNVCLGFGOQVQTFG8
#EGKVGGURGEKCNUWOKPKUVTCFQEQOQQREKÉPRCTCWPKFCFGU+'%[WPKFCFGU%5#7.EQPWPXQNVCLGFG
OQVQTFG8
#VNCU%QREQ4QVQ:VGPF&WV[(NWKFGUWPCEGKVGGURGEKCNRCTCEQORTGUQTGUFGGURKTCN[VQTPKNNQEQP
KP[GEEKÉPFGCEGKVGSWGOCPVKGPGGNEQORTGUQTGPGZEGNGPVGGUVCFQ#VNCU%QREQ4QVQ:VGPF&WV[(NWKF
RWGFGWVKNK\CTUGRCTCEQORTGUQTGUSWGHWPEKQPGPCWPCVGORGTCVWTCCODKGPVGFGGPVTGu%
u([
u%
u(
EQPUWNVGNCUGEEKÉP,WGIQUFGUGTXKEKQ
#VNCU%QREQ4QVQ(QQFITCFG(NWKF
#EGKVGGURGEKCNUWOKPKUVTCFQEQOQQREKÉP
#VNCU%QREQ4QVQ(QQFITCFG(NWKFGUWPNWDTKECPVGUKPV¾VKEQFGCNVCECNKFCFGZENWUKXQETGCFQ
GURGEKCNOGPVGRCTCEQORTGUQTGUFGVQTPKNNQEQPKP[GEEKÉPFGCEGKVGSWGUWOKPKUVTCPCKTGRCTCNCKPFWUVTKC
FGCNKOGPVCEKÉP'UVGNWDTKECPVGOCPVKGPGGNEQORTGUQTGPRGTHGEVQGUVCFQ'NCEGKVG4QVQ(QQFITCFG
RWGFGWVKNK\CTUGRCTCEQORTGUQTGUSWGHWPEKQPGPCWPCVGORGTCVWTCCODKGPVGFGGPVTGu%
u([
u%
u(
EQPUWNVGNCUGEEKÉP,WGIQUFGUGTXKEKQ
1DUGTXCEKÉP
'NFGRÉUKVQFGCKTGVCPSWGFGCEGKVGNNGXCWPCGVKSWGVCSWGKPFKECGNVKRQFGCEGKVG
NNGPCFQGPH±DTKEC
%CODKQFGCEGKVG[HKNVTQUFGCEGKVG
#XKUQ
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
/CPWCNFGKPUVTWEEKQPGU
2TQEGFKOKGPVQ
%QORQPGPVGUFGNUKUVGOCFGCEGKVGFG)#C)#
*CICHWPEKQPCTGNEQORTGUQTJCUVCSWGUGECNKGPVG2CTGGNOQVQTFGURW¾UFGOKPWVQUFG
HWPEKQPCOKGPVQGPFGUECTIC%KGTTGNCX±NXWNCFGUCNKFCFGCKTG[FGUEQPGEVGGNXQNVCLG'URGTG
WPQUEWCPVQUOKPWVQU[FGURTGUWTKEGFGUCVQTPKNNCPFQGNVCRÉPFGTGNNGPQFGCEGKVG
(%PQ
O±USWGWPCUQNCXWGNVCRCTCRGTOKVKTSWGUGGUECRGEWCNSWKGTRTGUKÉPSWGRWFKGTCJCDGTGPGN
UKUVGOC
#DTCVCODK¾PNQUFKURQUKVKXQUFGFTGPCLGOCPWCNFGNEQPFGPUCFQ
UKNQUJWDKGTC
'ZVTCKICGNVCRÉPFGFTGPCLGFGCEGKVG
&25CSWGGNCEGKVGCDTKGPFQNCX±NXWNC
8F3WKVG
VCODK¾PGNVCRÉPFGFTGPCLGFGNVWDQHNGZKDNG
UKVWCFQLWPVQCNGNGOGPVQ[GNVCRÉPFG
XGPVKNCEKÉPFGNTGHTKIGTCFQTFGCEGKVG%KGTTGNCX±NXWNC[XWGNXCCKPUVCNCTNQUVCRQPGUFGURW¾U
FGNFTGPCLG
4GEQLCGNCEGKVGGPWPTGEKRKGPVG[GPVT¾IWGNQCNUGTXKEKQFGTGEQIKFCFGCEGKVG4GKPUVCNG[
CRTKGVGNQUVCRQPGUFGFTGPCLG[XGPVKNCEKÉPFGURW¾UFGNFTGPCLG
'ZVTCKICGNHKNVTQFGCEGKVG
1(.KORKGGNCUKGPVQFGNFKUVTKDWKFQT.WDTKSWGEQPCEGKVGNCLWPVC
FGNPWGXQHKNVTQ[CVQTPÃNNGNQGPUWUKVKQ#RTKGVGHKTOGOGPVGCOCPQ
'ZVTCKICGNVCRÉPFGNNGPCFQ
(%
'POQFGNQU)#C)#KPVTQFW\ECWPEQFQGPGNVCRÉPFGNNGPCFQ
(%RCTCHCEKNKVCTGN
NNGPCFQ.NGPGGNFGRÉUKVQFGCEGKVG
16EQPCEGKVGJCUVCSWGGNPKXGNNNGIWGCNOGFKQFGNC
OKTKNNC
)+
%WKFGFGSWGPQECKICUWEKGFCFGPGNUKUVGOC4GKPUVCNG[CRTKGVGGNVCRÉPFGNNGPCFQ
(%
*CICHWPEKQPCTGNEQORTGUQTGPECTICWPQUOKPWVQU2CTGGNEQORTGUQT[GURGTGWPQU
OKPWVQUCHKPFGRGTOKVKTSWGUGTGRQUGGNCEGKVG
&GURTGUWTKEGGNUKUVGOCFGUCVQTPKNNCPFQGNVCRÉPFGNNGPCFQ
(%WPCUQNCXWGNVCRCTCRGTOKVKT
SWGUGGUECRGNCRTGUKÉPSWGRWFKGTCJCDGTGPGNUKUVGOC'ZVTCKICGNVCRÉP
'P)#C)#TGNNGPGGNFGRÉUKVQFGCEGKVGJCUVCSWGNCOKTKNNC
)+UGGPEWGPVTGNNGPCGP
UWURCTVGU
#RTKGVGGNVCRÉPFGNNGPCFQ
4GUVCDNG\ECGNVGORQTK\CFQTFGUGTXKEKQ
Ő 2CTCEQORTGUQTGUGSWKRCFQUEQPWPTGIWNCFQT'NGMVTQPKMQP+X¾CUGNCUGEEKÉP+PXQECEKÉP
FGTGCTOGFGVGORQTK\CFQTFGUGTXKEKQ
/CPWCNFGKPUVTWEEKQPGU
%CODKQFGNUGRCTCFQTFGCEGKVG
#XKUQ
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
2TQEGFKOKGPVQ
%QORQPGPVGUFGNUKUVGOCFGCEGKVGFG)#C)#
*CICHWPEKQPCTGNEQORTGUQTJCUVCSWGUGECNKGPVG2CTGGNEQORTGUQTEKGTTGNC
X±NXWNCFGUCNKFCFGCKTG[FGUEQPGEVGGNXQNVCLG'URGTGWPQUEWCPVQUOKPWVQU[
FGURTGUWTKEGFGUCVQTPKNNCPFQGNVCRÉPFGTGNNGPQFGCEGKVG
(%PQO±USWGWPCUQNC
XWGNVCRCTCRGTOKVKTSWGUGGUECRGEWCNSWKGTRTGUKÉPSWGRWFKGTCJCDGTGPGN
UKUVGOC
'URGTGOKPWVQU[GZVTCKICGNUGRCTCFQTFGCEGKVG
15.KORKGGNCUKGPVQFGN
FKUVTKDWKFQT.WDTKSWGEQPCEGKVGNCLWPVCFGNPWGXQUGRCTCFQT[CVQTPÃNNGNQGPUW
UKVKQ#RTKGVGHKTOGOGPVGCOCPQ
*CICHWPEKQPCTGNEQORTGUQTGPECTICWPQUOKPWVQU2CTGGNEQORTGUQT[GURGTG
WPQUOKPWVQUCHKPFGRGTOKVKTSWGUGTGRQUGGNCEGKVG
&GURTGUWTKEGGNUKUVGOCFGUCVQTPKNNCPFQGNVCRÉPFGNNGPCFQ
(%WPCUQNCXWGNVCRCTC
RGTOKVKTSWGUGGUECRGNCRTGUKÉPSWGRWFKGTCJCDGTGPGNUKUVGOC'ZVTCKICGNVCRÉP
4GNNGPGGNFGRÉUKVQFGCEGKVGJCUVCSWGNCOKTKNNC
)NUGGPEWGPVTGNNGPCGPUWU
RCTVGU
#RTKGVGGNVCRÉPFGNNGPCFQ
4GUVCDNG\ECGNVGORQTK\CFQTFGUGTXKEKQ
Ő 2CTCEQORTGUQTGUGSWKRCFQUEQPWPTGIWNCFQT'NGMVTQPKMQP+X¾CUGNCUGEEKÉP
+PXQECEKÉPFGTGCTOGFGVGORQTK\CFQTFGUGTXKEKQ
/CPWCNFGKPUVTWEEKQPGU
#NOCEGPCOKGPVQFGURW¾UFGNCKPUVCNCEKÉP
2TQEGFKOKGPVQ
2QPICGPOCTEJCGNEQORTGUQTRQTGLGORNQFQUXGEGUCNCUGOCPCJCUVCSWGUGECNKGPVG%CTIWG[
FGUECTIWGGNEQORTGUQTWPCUEWCPVCUXGEGU
5KGNEQORTGUQTUGXCCCNOCEGPCTUKPHWPEKQPCTFGXG\GPEWCPFQVQOGNCUOGFKFCU
FGRTQVGEEKÉPSWGEQTTGURQPFCP%QPUWNVGC#VNCU%QREQ
,WGIQUFGUGTXKEKQ
UGTXKEGMKVU
&GUETKREKÉP
5GGPEWGPVTCPFKURQPKDNGULWGIQUFGUGTXKEKQ
UGTXKEGMKVU SWGNGQHTGEGPNQUDGPGHKEKQUFGNCURCTVGU
QTKIKPCNGUFG#VNCU%QREQ[CNOKUOQVKGORQOCPVKGPGPDCLQUWRTGUWRWGUVQFGOCPVGPKOKGPVQ.QU
LWGIQUEQPVKGPGPVQFCUNCURKG\CUPGEGUCTKCURCTCGNUGTXKEKQ
5GTXKEGMKV RCTCHKNVTQUFGCEGKVG[HKNVTQUFGCKTG
,WGIQUFGUGTXKEKQ
UGTXKEGMKVU)#C)#
,WGIQUFGUGTXKEKQ
UGTXKEGMKVU 0ÐOGTQFGRGFKFQ
8±NXWNCFGRTGUKÉPOÃPKOCRCTCEQORTGUQTGUFG
DCTDCTRUKRUK[RUK
8±NXWNCFGRTGUKÉPOÃPKOCRCTCEQORTGUQTGUFG
DCT[RUK
'SWKRQFGHNQVCFQT
'SWKRQFGHKNVTQ2&:
-KVFGHKNVTQ&&:
#VNCU%QREQ4QVQ+PLGEV(NWKF
%QPUWNVGVCODK¾PNCUGEEKÉP'URGEKHKECEKÉPFGCEGKVG
0ÐOGTQFGRGFKFQ
.CVCFGNKVTQU
75ICN+ORICN
.CVCFGNKVTQU
75ICN+ORICN
$CTTKNFGNKVTQU
75ICN+ORICN
/CPWCNFGKPUVTWEEKQPGU
#VNCU%QREQ4QVQ:VGPF&WV[(NWKF
%QPUWNVGVCODK¾PNCUGEEKÉP'URGEKHKECEKÉPFGCEGKVG
0ÐOGTQFGRGFKFQ
.CVCFGNKVTQU
75ICN+ORICN
.CVCFGNKVTQU
75ICN+ORICN
$CTTKNFGNKVTQU
75ICN+ORICN
#VNCU%QREQ4QVQ(QQFITCFG(NWKF
%QPUWNVGVCODK¾PNCUGEEKÉP'URGEKHKECEKÉPFGCEGKVG
0ÐOGTQFGRGFKFQ
.CVCFGNKVTQU
75ICN+ORICN
$CTTKNFGNKVTQU
75ICN+ORICN
/CPWCNFGKPUVTWEEKQPGU
#LWUVGU[RTQEGFKOKGPVQUFGUGTXKEKQ
(KNVTQFGCKTG
7DKECEKÉPFGNHKNVTQFGCKTG
(KNVTQFGCKTG)#C)#
4GEQOGPFCEKQPGU
0QGZVTCKICPWPECGNGNGOGPVQEQPGNEQORTGUQTGPOCTEJC
2CTCTGFWEKTCNOÃPKOQGNVKGORQFGRCTCFCFGNEQORTGUQTECODKGGNGNGOGPVQUWEKQRQTQVTQPWGXQ
&GUGEJGEWCNSWKGTGNGOGPVQSWGGUV¾FCÇCFQ
2TQEGFKOKGPVQ
2CTGGNEQORTGUQT&GUEQPGEVGGNXQNVCLG
'PWPKFCFGU2CEMGZVTCKICGNRCPGNNCVGTCN
'PWPKFCFGU(WNN(GCVWTGGZVTCKICGNRCPGNHTQPVCN
3WKVGGNEQPLWPVQFGNHKNVTQFGCKTG
'ZVTCKICNCVCRCFGNHKNVTQFGCKTG
#(IKT±PFQNCGPUGPVKFQQRWGUVQCNCUCIWLCUFGWPTGNQL'ZVTCKIC
GNGNGOGPVQHKNVTCPVG5KGURTGEKUQNKORKGNCEWDKGTVC
+PUVCNGGNPWGXQGNGOGPVQ[NCEWDKGTVC
4GCTOGGNCXKUQFGUGTXKEKQFGNHKNVTQFGCKTG
%QPUWNVGNCUGEEKÉP+PXQECEKÉPTGCTOGFGVGORQTK\CFQTFGUGTXKEKQRCTCTGCTOCTGNOGPUCLGFG
UGTXKEKQGPTGIWNCFQTGU'NGMVTQPKMQP+
4GHTKIGTCFQTGU
.KORKG\C
/CPVGPICNKORKQUNQUTGHTKIGTCFQTGURCTCTGVGPGTNCGHKEKGPEKCFGTGHTKIGTCEKÉP
'PEQORTGUQTGUTGHTKIGTCFQURQTCKTG
/CPWCNFGKPUVTWEEKQPGU
Ő 2CTGGNEQORTGUQTEKGTTGNCX±NXWNCFGUCNKFCFGCKTG[FGUEQPGEVGGNXQNVCLG
Ő %WDTCVQFCUNCURKG\CUFGDCLQFGNQUTGHTKIGTCFQTGU
Ő 'ZVTCKICVQFQGNRQNXQFGNQUTGHTKIGTCFQTGUEQPWPEGRKNNQFGEGTFCU0QGORNGGPWPECWPEGRKNNQFG
CNCODTGUPKQDLGVQUOGV±NKEQU
Ő 5GIWKFCOGPVGUQRNGEQPCKTGEQORTKOKFQGPUGPVKFQQRWGUVQCNHNWLQPQTOCN
Ő 5KGURTGEKUQSWGUGNKORKGPNQUTGHTKIGTCFQTGUEQPC[WFCFGWPFGVGTIGPVGEQPUWNVGC#VNCU%QREQ
0WPECWUGWPFKURQUKVKXQNKORKCFQTFGCIWCCCNVCRTGUKÉPRCTCNKORKCTGNEQORTGUQT
8±NXWNCUFGUGIWTKFCF
2QUKEKÉPFGX±NXWNCFGUGIWTKFCF
)#C)#
&GRÉUKVQFGCKTGEQPX±NXWNCFGUGIWTKFCFGPWPKFCFGUOQPVCFCUGPFGRÉUKVQ
#EEKQPCOKGPVQ
#EEKQPGNCX±NXWNCFGUGIWTKFCFFGUCVQTPKNNCPFQNCVCRCWPCQFQUXWGNVCU[CVQTPKNN±PFQNCFGPWGXQ
2TWGDC
#PVGUFGSWKVCTNCX±NXWNCFGUGIWTKFCFFGURTGUWTKEGGNEQORTGUQT
/CPWCNFGKPUVTWEEKQPGU
%QPUWNVGNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU
.CX±NXWNC
58RWGFGRTQDCTUGGPWPCNÃPGCFGCKTGEQORTKOKFQUGRCTCFC5KPQUGCDTGNCX±NXWNCCNC
RTGUKÉPGUVCORCFCGPNCOKUOCEQPUWNVGC#VNCU%QREQ
.CX±NXWNC
58UGKPUVCNCGPXGTUKQPGUGPFGRÉUKVQ.CX±NXWNCRWGFGRTQDCTUGGPWPCNÃPGCFGCKTG
EQORTKOKFQUGRCTCFC5KPQUGCDTGNCX±NXWNCCNCRTGUKÉPGUVCORCFCGPNCOKUOCEQPUWNVGC#VNCU
%QREQ
#XKUQ
0QUGRGTOKVGPKPIÐPCLWUVG0WPECFGLGHWPEKQPCTGNEQORTGUQTUKPNCX±NXWNCFGUGIWTKFCF
/CPWCNFGKPUVTWEEKQPGU
5QNWEKÉPFGRTQDNGOCU
5QNWEKÉPFGRTQDNGOCU
#XKUQ
#PVGUFGGORG\CTGNVTCDCLQFGOCPVGPKOKGPVQQTGRCTCEKÉPUQDTGGNEQORTGUQT
RWNUGGNDQVÉPFGRCTCFCGURGTGJCUVCSWGUGRCTGGNEQORTGUQT
CRTQZ
UGIWPFQURWNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC[FGUEQPGEVGGNXQNVCLG%KGTTGNC
X±NXWNCFGUCNKFCFGCKTGCDTCGNFKURQUKVKXQFGFTGPCLGOCPWCN
&OGPWPKFCFGU
2CEM[CFGO±UCDTCGNRWPVQFGFTGPCLGOCPWCNFGEQPFGPUCFQ
&OGPWPKFCFGU
OQPVCFCUGPFGRÉUKVQ&GURTGUWTKEGGNEQORTGUQTCDTKGPFQGNVCRÉPFGNNGPCFQFG
CEGKVG
(%WPCXWGNVC
2CTCKPHQTOCTUGUQDTGGNGORNC\COKGPVQFGNQUEQORQPGPVGUEQPUWNVGNCU
UGEEKQPGU
Ő +PVTQFWEEKÉP
Ő 5KUVGOCFGEQPFGPUCFQ
Ő #TTCPSWGKPKEKCN
#DTC[DNQSWGGGNKPVGTTWRVQTUGRCTCFQT
.CX±NXWNCFGUCNKFCFGCKTGRWGFGUGTDNQSWGCFCFWTCPVGGNOCPVGPKOKGPVQQ
TGRCTCEKQPGUFGNCOCPGTCUKIWKGPVG
Ő %KGTTGNCX±NXWNC
Ő 'ZVTCKICGNVQTPKNNQSWGUWLGVCGNOCPIQEQPNCNNCXGSWGUGGPVTGICEQPGN
EQORTGUQT
Ő .GXCPVGGNOCPIQ[IÃTGNQJCUVCSWGGNTGDQTFGFGDNQSWGQGPGNEWGTRQFGNC
X±NXWNCGPECLGGPNCTCPWTCFGNOCPIQ
Ő +PUVCNGGNVQTPKNNQ
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU
(CNNQU[UQNWEKQPGU
'PEQORTGUQTGUFQVCFQUFGNTGIWNCFQT'NGMVTQPKMQP+UKGN.'&FGCNCTOCGUV±GPEGPFKFQQRCTRCFGC
EQPUWNVGNCUGEEKÉP#XKUQFGRCTCFCFGCNCTOC
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
&CVQUV¾EPKEQU
+PFKECEKQPGUGPGNFKURNC[
&KURNC[FGNTGIWNCFQT'NGMVTQPKMQP
4GIWNCFQT'NGMVTQPKMQP+
+ORQTVCPVG
.CUNGEVWTCUOGPEKQPCFCUCPVGTKQTOGPVGUQPX±NKFCUDCLQNCUEQPFKEKQPGUFG
TGHGTGPEKC
X¾CUGNCUGEEKÉP%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGU
4GHGTGPEKC .GEVWTC
2TGUKÉPFGUCNKFCFG (NWEVÐCGPVTGNCURTGUKQPGUFGFGUECTIC[ECTICRTQITCOCFCU
CKTG
6GORGTCVWTCFGUCNKFC 2CTC)#C)#u%
u(UQDTGNCVGORGTCVWTCFGNCKTGFG
FGNGNGOGPVQ TGHTKIGTCEKÉP
EQORTGUQT
6GORGTCVWTCFGNRWPVQ 2CTC)#C)#EQPUWNVGNCUGEEKÉP&CVQUFGNEQORTGUQTRCTC)#C
FGTQEÃQ )#
6COCÇQFGECDNGUGN¾EVTKEQU
#VGPEKÉP
.CUTGINCUNQECNGUUKIWGPGPXKIQTUKUQPO±UGUVTKEVCUSWGNQUXCNQTGURTQRWGUVQU
CDCLQ
.CECÃFCFGXQNVCLGPQFGDGGZEGFGTWPFGNXQNVCLGPQOKPCN2WGFGSWGUGC
PGEGUCTKQWVKNK\CTECDNGUFGVCOCÇQOC[QTSWGNQUGURGEKHKECFQUCHKPFGEWORNKTEQP
GUVCGZKIGPEKC
/CPWCNFGKPUVTWEEKQPGU
6COCÇQFGECDNGU
#LWUVGUFGTGN¾FGUQDTGECTIC[HWUKDNGU
4GN¾FGUQDTGECTIC[HWUKDNGU
/CPWCNFGKPUVTWEEKQPGU
+PVGTTWRVQTGUFGNUGECFQT
+(&
)GPGTCNKFCFGU
.QUFKURQUKVKXQUTGIWNCFQTGU[FGUGIWTKFCFGUV±PCLWUVCFQUGPH±DTKECRCTCQDVGPGTGNO±ZKOQ
TGPFKOKGPVQFGNUGECFQT
5GRTQJÃDGCNVGTCTGNCLWUVGFGFKEJQUFKURQUKVKXQU
%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGU
%QPFKEKQPGUFGTGHGTGPEKC
2TGUKÉP
CDUQNWVCFGGPVTCFCFGCKTG DCT
2TGUKÉP
CDUQNWVCFGGPVTCFCFGCKTG RUK
6GORGTCVWTCFGGPVTCFCFGCKTG u%
6GORGTCVWTCFGGPVTCFCFGCKTG u(
*WOGFCFTGNCVKXC
2TGUKÉPFGVTCDCLQRCTC)#CN)# %QPUWNVGNCUGEEKÉP&CVQUFGN
EQORTGUQTRCTC)#C)#
.ÃOKVGU
2TGUKÉPO±ZKOCFGVTCDCLQRCTC)#CN)# %QPUWNVGNCUGEEKÉP&CVQUFGN
EQORTGUQTRCTC)#C)#
2TGUKÉPOÃPKOCFGVTCDCLQ DCT
G
2TGUKÉPOÃPKOCFGVTCDCLQ RUKI
6GORGTCVWTCO±ZKOCFGGPVTCFCFGCKTG u%
6GORGTCVWTCO±ZKOCFGGPVTCFCFGCKTG u(
6GORGTCVWTCOÃPKOCFGGPVTCFCFGCKTG u%
6GORGTCVWTCOÃPKOCFGGPVTCFCFGCKTG u(
&CVQUFGNEQORTGUQTRCTC)#C)#
%QPFKEKQPGUFGTGHGTGPEKC
6QFQUNQUFCVQUGURGEKHKECFQUCEQPVKPWCEKÉPUGCRNKECPDCLQEQPFKEKQPGUFG
TGHGTGPEKCX¾CUGNCUGEEKÉP%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGU
/CPWCNFGKPUVTWEEKQPGU
)#
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
)#
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
)#
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
/CPWCNFGKPUVTWEEKQPGU
+PUVTWEEKQPGURCTCGNWUQFGNFGRÉUKVQFGCKTG
+PUVTWEEKQPGUFGWUQ
+PUVTWEEKQPGU
'UVGTGEKRKGPVGRWGFGEQPVGPGTCKTGRTGUWTK\CFQVGPICGPEWGPVCGNRGNKITQRQVGPEKCN
SWGGUVQUWRQPGUKPQNQWVKNK\CEQTTGEVCOGPVG
'UVGTGEKRKGPVGUGWUCT±ÐPKECOGPVGGPECNKFCFFGUGRCTCFQTFGCKTGEQORTKOKFQCEGKVG
[HWPEKQPCT±FGPVTQFGNQUNÃOKVGUGURGEKHKECFQUGPNCRNCECFGFCVQU
0QFGDGTGCNK\CTPKPIWPCOQFKHKECEKÉPGPGUVGTGEKRKGPVGPKUQNFCPFQPKVCNCFTCPFQPK
RQTPKPIÐPQVTQO¾VQFQOGE±PKEQUKPGNRGTOKUQGUETKVQFGNHCDTKECPVG
5GKPFKECT±PENCTCOGPVGNCRTGUKÉP[VGORGTCVWTCFGGUVGTGEKRKGPVG
.CX±NXWNCFGUGIWTKFCFFGDGEQTTGURQPFGTEQPRKEQUVTCPUKVQTKQUFGRTGUKÉPFG
XGEGUNCO±ZKOCRTGUKÉPRGTOKUKDNGFGVTCDCLQ&GDGICTCPVK\CTSWGNCRTGUKÉPPQ
GZEGFGT±RGTOCPGPVGOGPVGNCO±ZKOCRTGUKÉPRGTOKUKDNGFGVTCDCLQFGNTGEKRKGPVG
7VKNKEGUÉNQGNCEGKVGGURGEKHKECFQRQTGNHCDTKECPVG
2QTNQVCPVQPQJC[PGEGUKFCFKPVTÃPUGECFGTGCNK\CTKPURGEEKQPGUKPVGTOGFKCUFGN
TGEKRKGPVGUK¾UVGUGWVKNK\CFGPVTQFGNQUNÃOKVGUFGFKUGÇQ[RCTCNQUHKPGUFGWUQRCTC
NQUSWGUGJCRTGXKUVQ
2CTCWPKFCFGUOQPVCFCUGPFGRÉUKVQCFGO±U
&GDGGXKVCTUGNCEQTTQUKÉPGPEQPFKEKQPGUFGWUQ2WGFGCEWOWNCTUGEQPFGPUCEKÉPGP
GNKPVGTKQTFGNFGRÉUKVQ[¾UVGFGDGFTGPCTUGECFCFÃC'UVGRTQEGUQRWGFGTGCNK\CTUG
OCPWCNOGPVGCDTKGPFQNCX±NXWNCFGFTGPCLGQDKGPOGFKCPVGFTGPCLGCWVQO±VKEQUK
GUV±KPUVCNCFQ
/CPWCNFGKPUVTWEEKQPGU
2'&
&KTGEVKXCUUQDTGGSWKRQUCRTGUKÉP
%QORQPGPVGUUWLGVQUCNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP%'
%QORQPGPVGUUWLGVQUCNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP%'UWRGTKQTGUQGSWKXCNGPVGUCNC
ECVGIQTÃC++
%NCUKHKECEKÉPIGPGTCN
2CTC)#C)#NQUEQORTGUQTGUEWORNGPNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP
2'&RCTCGSWKRQU
EQPWPCECVGIQTÃCKPHGTKQTCNC%CVGIQTÃC++
GA 15, GA 18, GA 22
Manual de Instrucciones
Atlas Copco se distingue como empresa por nuestra
convicción de que sólo podremos destacar en lo que
hacemos si ofrecemos la mejor experiencia tecnológica
posible para ayudar realmente a nuestros clientes a
producir, crecer y triunfar.