3DJLQD

0LQLVWHURGHOO
,VWUX]LRQH




3DJHOOD6FRODVWLFD
'DWLDQDJUDILFLGHOORVWXGHQWH
6785$52 5,&&$5'2 6755&55++
&2*120( 120( &2',&(),6&$/(
 529,*2 52
'$7$',1$6&,7$ &2081(',1$6&,7$ 3529267$72(67(52

3RVL]LRQHVFRODVWLFDGHOORVWXGHQWH $QQR6FRODVWLFR

 &6/,&(26&,(17,),&2
15(*,6752*(1 &/$66(6(=,21(,1',5,==2

SURPR]LRQH &$6$/,1,529,*2
7,72/2',$00,66,21( 3529(1,(1=$

,6&5,=,21(3(5/$35,0$92/7$ ,O'LU6HUY*HQH$PP
 BBBBBBBBBBBBBBBB


,O'LULJHQWH6FRODVWLFR
529,*2Oe
 BBBBBBBBBBBBBBBB
BBBBBBBBBBBBBBBB
*$==,(5,&5,67,1$
 3DJLQD

6785$52 5,&&$5'2 6755&55++ 52363 

&2*120( 120( &2',&(),6&$/( &2',&(,67,7872 $1126&2/$67,&2

9$/87$=,21(3(5,2',&$
,7ULPHVWUH
',6&,3/,1(
25(
81,&2
$66(1=$
',6(*12(6725,$'(//
$57( 2WWR 
('8&$=,21(&,9,&$ 1RYH 
),6,&$ 2WWR 
/,1*8$(&8/785$/$7,1$ 1RYH 
/,1*8$(&8/785$675$1,(5$ 1RYH 
/,1*8$(/(77(5$785$,7$/,$1$ 2WWR 
0$7(0$7,&$ 1RYH 
6&,(1=(02725,((63257,9( 2WWR 
6&,(1=(1$785$/, 2WWR 
6725,$(*(2*5$),$ 2WWR 
&203257$0(172 1RYH 

$1127$=,21,

529,*2Oe
,OLJHQLWRUHLRFKLQHIDOHYHFL  ,O'LULJHQWH6FRODVWLFR
BBBBBBBBBBBBBBBBBBBB BBBBBBBBBBBBBBBBBBBB
 3DJLQD

6785$52 5,&&$5'2 6755&55++ 52363 

&2*120( 120( &2',&(),6&$/( &2',&(,67,7872 $1126&2/$67,&2

6&587,1,2
(6$0,
),1$/(
',6&,3/,1(
927281,&2 7RWDOHRUH 9RWR8QLFR
LQOHWWHUH $VVHQ]D LQOHWWHUH
',6(*12(6725,$'(//
$57( 2WWR 
('8&$=,21(&,9,&$ 1RYH 
),6,&$ 2WWR 
/,1*8$(&8/785$/$7,1$ 1RYH 
/,1*8$(&8/785$675$1,(5$ 1RYH  &5(',72
/,1*8$(/(77(5$785$,7$/,$1$ 2WWR  6&2/$67,&2

0$7(0$7,&$ 1RYH  0HGLDGHLYRWLFRQVHJXLWLQHOOR

VFUXWLQLRILQDOH

6&,(1=(02725,((63257,9( 1RYH 
&UHGLWRVFRODVWLFRDWWULEXLWR
6&,(1=(1$785$/, 1RYH 
QHOO
DQQRLQFRUVR

6725,$(*(2*5$),$ 1RYH 

&203257$0(172 1RYH 


$1127$=,21,

529,*2Oe
,O'LULJHQWH6FRODVWLFR
,OLJHQLWRUHLRFKLQHIDOHYHFL 
BBBBBBBBBBBBBBBBBBBB
BBBBBBBBBBBBBBBBBBBB
*$==,(5,&5,67,1$
 3DJLQD

6785$52 5,&&$5'2 6755&55++ 52363 

&2*120( 120( &2',&(),6&$/( &2',&(,67,7872 $1126&2/$67,&2

9$/,',7$
'(//
$1126&2/$67,&2
$UWFRPPDGHO'35Q
$LILQLGHOODYDOLGLWcGHOO
DQQRHGHOO
DPPLVVLRQHDOORVFUXWLQLRILQDOHO
DOXQQRD 
;KDIUHTXHQWDWRSHUDOPHQRWUHTXDUWLGHOO
RUDULRDQQXDOH
QRQKDIUHTXHQWDWRSHUDOPHQRWUHTXDUWLGHOO
RUDULRDQQXDOHPDKDXVXIUXLWRGHOODGHURJD
QRQKDIUHTXHQWDWRSHUDOPHQRWUHTXDUWLGHOO
RUDULRDQQXDOH

5,68/7$72),1$/(
9LVWLLULVXOWDWLFRQVHJXLWLVLGLFKLDUDFKHO
DOXQQRdVWDWRDPPHVVR

529,*2Oe
,O'LULJHQWH6FRODVWLFR
,OLJHQLWRUHLRFKLQHIDOHYHFL 
BBBBBBBBBBBBBBBBBBBB
BBBBBBBBBBBBBBBBBBBB
*$==,(5,&5,67,1$

127(
35202=,21(,'21(,7$
48$/,),&$,GRQHLWcDOO
XOWLPDFODVVHDVHJXLWRGLHVLWRSRVLWLYRGHOO
HVDPHSUHOLPLQDUHH
PDQFDWRVXSHUDPHQWRHVDPLGL6WDWR
35,0$6(&21'$7(5=$
)LUPDDXWRJUDIDVRVWLWXLWDDPH]]RVWDPSDVHFRQGROHLQGLFD]LRQLGHOO
DUWGHO'OJV
,OULTXDGURSXfHVVHUHXWLOL]]DWRDQFKH
SHUO
DQQRWD]LRQHGHOOHPDWHULH$UWFRPPDGHO'35
SHUO
DQQRWD]LRQHGHOOHPDWHULH$UWFRPPDGHO'35
SHUO
DQQRWD]LRQHSUHYLVWDGDOO
$UWFRPPDGHO'35
SHUHYHQWXDOLDOWUHDQQRWD]LRQLRLQGLFD]LRQHGLULODVFLRGLFHUWLILFD]LRQHh
3HUOHFODVVLWHUPLQDOLLQGLFDUHDPPHVVRDDJOLHVDPLQRQDPPHVVRDDJOLHVDPL
6RORSHUHVDPLGLTXDOLILFDSURIHVVLRQDOH
SURPRVVRDQRQSURPRVVRD
3HUOHFODVVLWHUPLQDOLLQGLFDUHDPPHVVRDQRQDPPHVVRD
 3DJLQD

0LQLVWHURGHOO
,VWUX]LRQH





1RWDSHUODYDOXWD]LRQHUHODWLYDDOO
LQVHJQDPHQWRGHOOD
5HOLJLRQH&DWWROLFD0DWHULD$OWHUQDWLYD

$QQR6FRODVWLFR

'DWLDQDJUDILFLGHOORVWXGHQWH

6785$52 5,&&$5'2 6755&55++

&2*120( 120( &2',&(),6&$/(

 529,*2 52
'$7$',1$6&,7$ &2081(',1$6&,7$ 3529267$72(67(52

,VFULWWRDOODFODVVH &6/,&(26&,(17,),&2

9DOXWD]LRQHULIHULWDDOO
LQWHUHVVHFRQLOTXDOHORVWXGHQWHKDVHJXLWRO
LQVHJQDPHQWRGHOOD
5HOLJLRQH&DWWROLFD0DWHULD$OWHUQDWLYDHDLULVXOWDWLIRUPDWLYLFRQVHJXLWLSDUWH
LQWHJUDQWHGHOODSDJHOODVFRODVWLFD

9$/87$=,21(3(5,2',&$ (6,72
,7ULPHVWUH ),1$/(
7RWDOH
*LXGL]LR 2UH$VVHQ]D *LXGL]LR
2UH$VVHQ]D
2WWLPR  (FFHOOHQWH 

,O'LULJHQWH6FRODVWLFR
529,*2Oe  BBBBBBBBBBBBBBBB
*$==,(5,&5,67,1$

*LXGL]LRIRUPXODWRDLVHQVLGHOOgDUWGHO'WR/JV
)LUPDDXWRJUDIDVRVWLWXLWDDPH]]RVWDPSDVHFRQGROHLQGLFD]LRQLGHOO
DUWGHO'OJV