Instruction Manual for DOLMAR models including: ES-154, Electric Chain Saw, ES-154 Electric Chain Saw, Chain Saw, Saw
DOLMAR ES2131TLCX Elektrická pila 30cm, 3/8", 2000W, 2x řetěz (UC3051AX1)
File Info : application/pdf, 21 Pages, 3.56MB
DocumentDocument*% (OHFWULF&KDLQ6DZ 8$ 3/ (OHNWU\F]QD3LODUND D FXFKRZD 52 )HU VWU XHOHFWULFFXODQ '( (OHNWUR0RWRUVlJH +8 (OHNWURPRVOiQFI UpV] 6. (OHNWULFNiUH D]RYiStOD &= (OHNWULFNi HW ]RYiSLOD ,16758&7,210$18$/ ,16758.&-$2%6 8*, 0$18$/'(,16758& ,81, %(',(181*6$1/(,781* +$6=1È/$7,.e=,.g1<9 1È92'1$2%6/8+8 1È92'.2%6/8=( (6 (67/& (6 (67/& (6 (67/& (6 (67/& (6 (67/& (6 (67/& (6 (67/& (6 (67/& 5HFODLPHQG RLO $ % % $ (6.éRULJLQiOQtQiYRGNREVOX]H /HJHQGDYãHREHFQpKRY\REUD]HQt 3i ND .U\W HW ]RYpKRNROD 6WDY FtãURXE 5HJXOD QtNQRIOtN HW ]RYpNROR 9RGLFtW\ 2WYRU +iN 2WYRU .ROtN 3i ND .U\W HW ]RYpKRNROD 3RYROLW 8WiKQRXW 6H L]RYDFtãURXE HW ]X 9RGLFtW\ 3LORYê HW ] 3RYROLW 8WiKQRXW 5HJXOD QtNQRIOtN 9RGLFtW\ 3LORYê HW ] =iY VNDEHOX .DEHOQiVWURMH 3URGOXåRYDFtNDEHO =iVWU NDD]iVXYNDWYDUVHP åH YU ]QêFK]HPtFKOLãLW 2GMLã RYDFtWOD tWNR 6SRXã 9t NRSOQLFtKRRWYRUXROHMH 3iVHN 3RYROLW 8WiKQRXW 6H L]RYDFtãURXE HW ]X 9RGLFtW\ 3LORYê HW ] 3RYROLW 8WiKQRXW 5HJXOD QtNQRIOtN 9RGLFtW\ 3LORYê HW ] 3 HGQtRFKUDQDUXNRX =DMLVWLW 2GMLVWLW 3 HGQtRFKUDQDUXNRX 2GMLVWLW =DMLVWLW .RQWUROQtSU ]RUKODGLQ\ROHMH =XERYiRS UND 2EODVWNiFHQt 6P USiGX 1HEH]SH Qi]yQD ÒQLNRYiFHVWD 'pOND H]X 9]GiOHQRVWPH]LE LWHPD RPH]RYDFtSDWNRX 0LQPP ÒKHOER QtKUDQ\ 9RGLFtGUiåNDROHMH 3 tYRGQtRWYRUROHMH HW ]RYpNROR 0H]Qt]QD ND 9t NRGUåiNXXKOtNX âURXERYiN 7(&+1,&.eÒ'$-( 0RGHO (6 (6 (6 7/& (6 7/& (6 (6 (6 7/& (6 7/& (6 (6 (6 7/& (6 7/& (6 (6 (6 7/& (6 7/& 0D[U\FKORVW HW ]X PVPPLQ 6WDQGDUGQtYRGLFt OLãWD 'pONDOLãW\ 'pOND H]X 7\SYRGLFtOLãW\ PP PP PP PP PP PP /LãWDV HW ]RYêPNROHPQDNRQFL PP PP 7\S 3; 6WDQGDUGQtSLORYê HW ] 5R]WH 3R HWYRGLFtFK OiQN 'RSRUX HQiGpONDYRGLFtOLãW\ PP &HONRYiGpONDEH]PH H PP +PRWQRVWQHWWR 3URGOXåRYDFtNDEHOYROLWHOQê NJ NJ NJ NJ ',1+251)/ PPD[[PP NJ 9]KOHGHPNQHXVWiOpPXYê]NXPXDYêYRML]GHXYHGHQpWHFKQLFNp~GDMHSRGOpKDMt]P QiPEH]XSR]RUQ Qt 7HFKQLFNp~GDMHVHPRKRXSURU ]Qp]HP OLãLW +PRWQRVWSRGOH(37$±3URFHGXUH (1' 6\PERO 1tåH MVRX XYHGHQ\ V\PERO\ VH NWHUêPL VH P åHWH S L SRXåLWt QiVWURMH VHWNDW -H G OHåLWp DE\VWH G tYH QHå V QtP]D QHWHSUDFRYDWSRFKRSLOLMHMLFKYê]QDP 3 H W WH VL QiYRG N REVOX]H D UHVSHNWXMWH XSR]RUQ Qt L EH]SH QRVWQt SRN\Q\ 3RXåtYHMWHRFKUDQX]UDNX 3RXåtYHMWHRFKUDQXVOXFKX '92-,7È,=2/$&( 8SR]RUQ Qt 3RåDGXMH VH ]YêãHQi SR]RUQRVWDRSDWUQRVW 8SR]RUQ Qt 9 S tSDG SRãNR]HQt QDSiMHFtKR NDEHOX RNDPåLW RGSRMWH Vt RYRX]iVWU NX 8SR]RUQ Qt1HEH]SH t]S WQpKRUi]X &KUD WHS HGGHãW PDYOKNRVWt 3RXåtYHMWH S LOEX EUêOH D RFKUDQX VOXFKX 1RVWHRFKUDQQpUXNDYLFH 2GSRMWHVt RYRX]iVWU NX 3UYQtSRPRF 0D[LPiOQtSRYROHQiGpOND H]X 6P USRK\EX HW ]X HW ]RYêROHM 8YROQ QiEU]GD HW ]X $NWLYRYDQiEU]GD HW ]X =DNi]iQR -HQSURVWiW\(8 (OHNWULFNi ]D t]HQt QHOLNYLGXMWH VRX DVQ VGRPRYQtPRGSDGHP 9]KOHGHP N GRGUåRYiQt HYURSVNp VP UQLFH R RGSDGQtFK HOHNWULFNêFK D HOHNWURQLFNêFK ]D t]HQtFK Y HWQ MHMt LPSOHPHQWDFH Y VRXODGX VQiURGQtPL ]iNRQ\ PXVt EêW HOHNWULFNp ]D t]HQt SR VNRQ HQt åLYRWQRVWL VKURPiåG QR RGG OHQ D S HGiQR GR HNRORJLFNpKR UHF\NOD QtKR]D t]HQt (1( 8U HQtQiVWURMH 1iVWURMMHXU HQN H]iQtG tYtDNPHQ (1) 1DSiMHQt =D t]HQt MH W HED S LSRMLW SRX]H N QDSiMHQt VH VWHMQêP QDS WtP MDNp MH XYHGHQR QD YêUREQtP ãWtWNX D P åH EêW SURYR]RYiQR SRX]H Y MHGQRIi]RYpP QDSiMHFtP RNUXKX VH VW tGDYêP QDS WtP 1i DGt MH Y\EDYHQR GYRMLWRX L]RODFt D P åHEêWWHG\S LSRMHQRLN]iVXYNiPEH]]HPQLFtKRYRGL H (1* +OX QRVW 7\SLFNi YiåHQi KODGLQD KOXNX $ XU HQi SRGOH QRUP\ (1 +ODGLQDDNXVWLFNpKRWODNX/S$G%$ +ODGLQDDNXVWLFNpKRYêNRQX/:$G%$ 1HMLVWRWD.G%$ 3RXåtYHMWHRFKUDQXVOXFKX (1* 9LEUDFH &HONRYi KRGQRWD YLEUDFt YHNWRURYê VRX HW W t RV XU HQiSRGOHQRUP\(1 3UDFRYQtUHåLP H]iQtG HYD (PLVHYLEUDFtDKPV 1HMLVWRWD.PV (1* 'HNODURYDQi KRGQRWD HPLVt YLEUDFt E\OD ]P HQD YVRXODGX VH VWDQGDUGQt WHVWRYDFt PHWRGRX D P åHEêWY\XåLWDNHVURYQiYiQtQi DGtPH]LVHERX 'HNODURYDQRXKRGQRWXHPLVtYLEUDFtO]HURYQ åY\XåtW NS HGE åQpPXSRVRX]HQtY\VWDYHQtMHMLFKYOLYX 9$529È1Ë (PLVH YLEUDFt E KHP VNXWH QpKR SRXåtYiQt HOHNWULFNpKRQi DGtVHPRKRXRGGHNODURYDQpKRGQRW\ HPLVtYLEUDFtOLãLWY]iYLVORVWLQD]S VREXSRXåLWtQi DGt 1D ]iNODG RGKDGX Y\VWDYHQt ~ LQN P YLEUDFt Y DNWXiOQtFK SRGPtQNiFK ]DMLVW WH EH]SH QRVWQt RSDW HQt N RFKUDQ REVOXK\ YH]P WH Y ~YDKX YãHFKQ\ iVWL SUDFRYQtKR F\NOX PH]L Q å SDW t NURP GRE\ SUDFRYQtKR QDVD]HQt L GRED NG\ MH Qi DGtY\SQXWRQHERSUDFXMHYHYROQRE KX 3RX]HSUR]HP (YURS\ (1+ 3URKOiãHQt(6RVKRG 6SROH QRVW 0DNLWD SURKODãXMH åH QiVOHGXMtFt ]D t]HQt 3RSLV]D t]HQt HW ]RYiSLOD 0RGHOXW\S (6(67/&(6(67/& (6(67/&(6(67/& (6(67/&(6(67/& (6(67/&(6(67/& 7HFKQLFNp~GDMHYL]WDEXONDÄ7(&+1,&.eÒ'$-( $Y\KRYXMHQiVOHGXMtFtPHYURSVNêPVP UQLFtP (6(6 =D t]HQtE\ORY\UREHQRYVRXODGXVQiVOHGXMtFtQRUPRX LQRUPDWLYQtPLGRNXPHQW\ (1 (6FHUWLILNiWS H]NRXãHQtW\SX (6S H]NRXãHQtW\SXGOH(6SURYHGODVSROH QRVW '(.5$7HVWLQJDQG&HUWLILFDWLRQ*PE+ (QGHUVWUDHE 'UHVGHQ 1 PHFNR ,GHQWLILND Qt 7HFKQLFNi GRNXPHQWDFH GOH (6 MH N GLVSR]LFL QDDGUHVH 0DNLWD-DQ%DSWLVW9LQNVWUDDW%HOJLH 3RVWXS SRVX]RYiQt VKRG\ Y\åDGRYDQê VP UQLFt (6E\OYVRXODGXVS tORKRX9 1DP HQiKODGLQDDNXVWLFNpKRYêNRQXG%$ =DUX HQiKODGLQDDNXVWLFNpKRYêNRQXG%$ <DVXVKL)XND\D HGLWHO 0DNLWD-DQ%DSWLVW9LQNVWUDDW%HOJLH *($ 2EHFQiEH]SH QRVWQt XSR]RUQ QtNHOHNWULFNpPX Qi DGt 832=251 1Ë 3 H W WH VL YãHFKQD EH]SH QRVWQt XSR]RUQ Qt D SRN\Q\ 3 L QHGRGUåHQt XSR]RUQ Qt D SRN\Q P åH GRMtW N ~UD]X HOHNWULFNêP SURXGHPSRåiUXQHERYiåQpPX]UDQ Qt 9ãHFKQD XSR]RUQ Qt D SRN\Q\ VL XVFKRYHMWHSUREXGRXFtSRW HEX *(% %H]SH QRVWQtXSR]RUQ QtN HW ]RYpSLOH -HOL HW ] SLO\ Y SRK\EX XGUåXMWH YãHFKQ\ NRQ HWLQ\ PLPR GRVDK HW ]X 3 HG ]DSQXWtP HW ]RYp SLO\ VH XMLVW WH åH VH HW ] QL HKR QHGRWêNi %XGHWHOL S L SRXåtYiQt HW ]RYp SLO\ MHQ FKYtOL QHSR]RUQt P åH GRMtW NH NRQWDNWX HW ]XVYDãtPREOH HQtPQHERW OHP HW ]RYRXSLOXGUåWHYåG\SUDYRXUXNRX]D]DGQt UXNRMH DOHYRXUXNRX]DS HGQtUXNRMH %XGHWHOL HW ]RYRX SLOX GUåHW REUiFHQ EXGH KUR]LW Y Wãt QHEH]SH t~UD]XSURWRVHWRPXY\KQ WH 1i DGt GUåWH SRX]H ]D L]RORYDQp iVWL GUåDGHO QHER SLORYê HW ] P åH S LMtW GR NRQWDNWX VH VNU\WêPYRGL HPQHERVYODVWQtPNDEHOHP3LORYp HW ]\ PRKRX S L NRQWDNWX V YRGL HP SRG QDS WtP S HQpVW SURXG GR QHFKUiQ QêFK iVWt Qi DGt D REVOXKDP åHXWUS W~UD]HOHNWULFNêPSURXGHP 3RXåtYHMWH RFKUDQX ]UDNX D VOXFKX 'RSRUX XMHVHWDNpGRGDWH QiRFKUDQDKODY\ UXNRX D QRKRX $GHNYiWQt REOH HQt ]DPH]t ]UDQ Qt RGOpWiYDMtFtPL W tVNDPL D QHFKW QpPX NRQWDNWXV HW ]HPSLO\ 1HSRXåtYHMWH HW ]RYRXSLOXQDVWURP 3 LSRXåLWt HW ]RYpSLO\QDVWURP P åHGRMtWNH]UDQ Qt 8GUåXMWH VSUiYQê SRVWRM D SRXåtYHMWH HW ]RYRXSLOXMHQWHKG\VWRMtWHOLQDVWDELOQtP MLVWpP D URYQpP SRYUFKX .OX]Nê QHER QHVWDELOQt SRYUFK QDS tNODG åHE tN P åH ]S VRELW]WUiWXURYQRYiK\QHERNRQWURO\QDGSLORX 3 L H]iQt QDSQXWp Y WYH GiYHMWH SR]RU QD ]S WQê Ui] .G\å VH QDS Wt YH G HY XYROQt QDSQXWi Y WHY P åH ]DViKQRXW REVOXKX QHER ]S VRELW]WUiWXNRQWURO\QDGSLORX 3 L H]iQt NH D PDOêFK VWURP GEHMWH PLPR iGQp SR]RUQRVWL 3UXåQê PDWHULiO P åH SLOX ]DFK\WLW D Y\PUãWLW VH QHER ]S VRELW åH ]WUDWtWHURYQRYiKX 3 L S HQiãHQt GUåWH HW ]RYRX SLOX ]D S HGQt UXNRMH QHFKWHMLY\SQXWRXDGUåWHMLWDNDE\Pt LOD VP UHP RG YDãHKR W OD 3 L S HSUDY QHER VNODGRYiQtYåG\QDVD WHNU\WYRGLFtOLãW\6SUiYQRX PDQLSXODFt V HW ]RYRX SLORX O]H VQtåLW UL]LNR QHFKW QpKRNRQWDNWXVSRK\EXMtFtPVH HW ]HPSLO\ 'RGUåXMWH SRN\Q\ WêNDMtFt VH PD]iQt QDStQiQt HW ]X D YêP Q\ S tVOXãHQVWYt 1HVSUiYQ QDSQXWê QHER QDPD]DQê HW ] VH P åH S HWUKQRXW QHER]YêãLWSUDYG SRGREQRVW]S WQpKRUi]X 8GUåXMWHUXNRMHWLVXFKp LVWpDFKUD WHMHS HG ROHMHP D PD]LYHP0DVWQpUXNRMHWLMVRXNOX]NpD PRKRX]S VRELW]WUiWXNRQWURO\QDGQiVWURMHP H]HMWH SRX]H G HYR 1HSRXåtYHMWH HW ]RYRX SLOX N ~ HO P SUR NWHUp QHQt XU HQD 3 tNODG QHSRXåtYHMWH HW ]RYRX SLOX N H]iQt SODVWX ]GLYDQHERQHG HY QêFKVWDYHEQtFKPDWHULiO 3RXåLWt HW ]RYp SLO\ N ~ HOX NH NWHUpPX QHQt XU HQDP åHPtWQHEH]SH QpQiVOHGN\ 3 t LQ\DSUHYHQFH]S WQpKRUi]X .G\åVHãSL NDYRGLFtOLãW\GRWNQHS HGP WXQHER NG\å G HYR VHY H HW ] SLO\ Y H]X P åH GRMtW N ]S WQpPXUi]X 3 L NRQWDNWX ãSL N\ P åH GRMtW N QiKOp ]S WQp UHDNFL NG\VHYRGLFtOLãWD]YHGQHQDKRUXDVP UHPNXåLYDWHOL 3 L VHY HQt HW ]X SLO\ Y KRUQt iVWL YRGLFt OLãW\ P åH GRMtWNU\FKOpPXSRK\EXYRGLFtOLãW\VP UHPNXåLYDWHOL 9W FKWRVLWXDFtFKP åHWH]WUDWLWNRQWUROXQDGSLORX FRå P åH PtW ]D QiVOHGHN YiåQp ]UDQ Qt 1HVSROpKHMWH VH MHQ QD EH]SH QRVWQt ]D t]HQt NWHUi MVRX VRX iVWt SLO\ -DNR XåLYDWHOp HW ]RYp SLO\E\VWHP OLSRGQLNQRXWYHãNHUiRSDW HQtNWHUi MVRXQXWQiN]DPH]HQtQHKRG\QHER]UDQ Qt =S WQê Ui] MH G VOHGNHP ãSDWQpKR SRXåLWt DQHER QHVSUiYQêFK SUDFRYQtFK SRVWXS L SRGPtQHN /]H VH PX Y\KQRXW S LMHWtP RGSRYtGDMtFtFK RSDW HQtNWHUiMVRXXYHGHQDQtåH HW ]RYRXSLOXVWiOHGUåWHSHYQ DSDOFLL SUVW\ REHPNQ WH MHMt GUåDGOD =DXMP WH WDNRYê SRVWRM W OD D SR]LFL UXNRX DE\VWH RGRODOL VLOiP ]S WQêFK Ui] =D S HGSRNODGX S LMHWt VSUiYQêFK SUHYHQWLYQtFK RSDW HQt P åH REVOXKD VtO\ ]S WQêFK Ui] ]YOiGQRXW HW ]RYRX SLOX QHSRXãW MWH ] UXNRX 1H]DFKi]HMWH S tOLã GDOHNR D QH HåWH QDG YêãNRX UDPHQ 3RP åHWH WDN S HGHMtW QHFKW QpPX NRQWDNWX ãSL N\ D XPRåQtWH OHSãt RYOiGiQt HW ]RYp SLO\ Y QHQDGiOêFK VLWXDFtFK 3RXåtYHMWH SRX]H QiKUDGQt OLãW\ D HW ]\ XU HQpYêUREFHP1HVSUiYQpQiKUDGQtOLãW\ D HW ]\ PRKRX YpVW N S HWUåHQt HW ]X D ]S WQpPXYUKX 'RGUåXMWH SRN\Q\ YêUREFH WêNDMtFt VH EURXãHQt D ~GUåE\ HW ]X SLO\ =PHQãHQt YêãN\ KORXENRYpKR GRUD]X P åH PtW ]D QiVOHGHNY Wãt]S WQêUi] '23/ .29È%(=3( 12671Ë 35$9,'/$ 3 H W WHVLQiYRGNREVOX]HDE\VWHVHVH]QiPLOL VSURYR]HP HW ]RYpSLO\ 3 HG SUYQtP SRXåLWtP HW ]RYp SLO\ DEVROYXMWH ãNROHQt Y SRXåtYiQt SLO\ 3RNXG WDNRYp ãNROHQt QHQt PRåQp S HG ]DKiMHQtP SUiFH VL PLQLPiOQ Y\]NRXãHMWH H]iQtNXODWLQ\QDNR]OtNX HW ]RYRX SLOX QHVPt SRXåtYDW G WL D RVRE\ PODGãt OHW 0ODGLVWYt VWDUãt OHW PRKRX EêW WRKRWR RPH]HQt ]SURãW QL SRNXG SRG GRKOHGHP RGERUQtNDDEVROYXMtãNROHQt 3UiFH V HW ]RYRX SLORX Y\åDGXMH Y\VRNRX NRQFHQWUDFL1HSUDFXMWHVSLORXSRNXGVHQHFtWtWH YSR iGNX9HãNHURXSUiFLSURYiG MWHVUR]YDKRX DNOLGQ 1LNG\QHSUDFXMWHSRGYOLYHPDONRKROXGURJQHER OpN 6SUiYQpSRXåLWt HW ]RYiSLODMHXU HQDYêKUDGQ N H]iQtG HYD 1HSRXåtYHMWH ML QDS tNODG N H]iQt SODVW QHER SRUp]QtKREHWRQX HW ]RYRX SLOX SRXåtYHMWH SRX]H N LQQRVWHP SRSVDQêP Y WRPWR QiYRGX N REVOX]H 3LOX QDS tNODGQHSRXåtYHMWHNVH H]iYiQtåLYêFKSORW QHERNSRGREQêP~ HO P HW ]RYRX SLOX QHQt SRYROHQR SRXåtYDW SUR OHVQLFNp SUiFH WM SUR NiFHQt D RGY WYRYiQt VWRMtFtFK VWURP .DEHO HW ]RYp SLO\ QHQDEt]t SUDFRYQtNRYL PRåQRVW SRK\EX D EH]SH QRVW NWHUpMVRXSURWDNRYRXSUiFLQXWQp HW ]RYiSLODQHQtXU HQDSURNRPHU QtSRXåLWt 1HS HW åXMWH HW ]RYRXSLOX 2VREQtRFKUDQQpSURVW HGN\ 2G Y PXVt EêW W VQ S LOHKDMtFt QHVPt YãDN RPH]RYDWSRK\EOLYRVW 3 LSUiFLSRXåtYHMWHQiVOHGXMtFtRFKUDQQpSURVW HGN\ 7HVWRYDQRX RFKUDQQRX S LOEX SRNXG H[LVWXMH UL]LNRSDGiQtY WYtQHERSRGREQpQHEH]SH t 2EOL HMRYêãWtWQHEREUêOH 9KRGQRX RFKUDQX VOXFKX NODSN\ QD XãL XSUDYHQp QHER WYDURYDWHOQp XFSiYN\ GR Xãt $QDOê]D RNWiYRYpKR SiVPD MH N GLVSR]LFL QD SRåDGDYHN 3HYQRXNRåHQRXRFKUDQQRXREXY 'ORXKpNDOKRW\Y\UREHQp]RGROQpOiWN\ 2FKUDQQRX NRPELQp]X ] OiWN\ RGROQp SURWL SUR H]iQt 2FKUDQQRX REXY QHER KROtQN\ V SURVWLVNOX]RYRX SRGUiåNRX RFHORYRX ãSL NRX DSRGãtYNRX]OiWN\RGROQpSURWLSUR H]iQt 'êFKDFtPDVNXS LSURYiG QtSUiFHS LNWHUp Y]QLNiSUDFKQDS S L H]iQtVXFKpKRG HYD 2FKUDQDSURWL~UD]XHOHNWULFNêPSURXGHP HW ]RYRXSLOXQHQtSRYROHQRSRXåtYDW ]D YOKNpKR SR DVt QHER YH YOKNpP SURVW HGt SURWRåH HOHNWURPRWRU SLO\ QHQtRGROQêSURWLYRG 3LOX ]DSRMXMWH SRX]H GR WHVWRYDQêFK HOHNWULFNêFK REYRG 2Y WH ]GD Vt RYp QDS Wt RGSRYtGi QDS WtXYHGHQpPXQD YêNRQRYpPãWtWNX 8MLVW WH VH]GDMHQDLQVWDORYiQDVt RYiSRMLVWND$3LO\ SRXåtYDQp YH YHQNRYQtP SURVW HGt PXVt EêW S LSRMHQ\ N SURXGRYpPX FKUiQL L V Y\EDYRYDFtP SURXGHPQHS HNUD XMtFtPP$ 'RMGHOLNSRãNR]HQtQDSiMHFtKRNDEHOX RNDPåLW Y\WiKQ WHVt RYRX]iVWU NX %H]SH QpSUDFRYQtSRVWXS\ 3 HG ]DKiMHQtP SUiFH ]NRQWUROXMWH ]GD MH HW ]RYi SLOD Y iGQpP SURYR]QtP VWDYX D ]GD RGSRYtGi SRåDGDYN P EH]SH QRVWQtFK VP UQLF .RQNUpWQ ]NRQWUROXMWH 6SUiYQRXIXQNFLEU]G\ HW ]X 6SUiYQRXIXQNFLGRE KRYpEU]G\ 6SUiYQpXSHYQ QtPH HDNU\WX HW ]RYpKRNROD 1DRVW HQt D QDSQXWt HW ]X Y VRXODGX VH VP UQLFHPL 'REUêVWDYQDSiMHFtKRNDEHOXDVt RYp]iVWU N\ 9L]RGVWDYHFÄ.21752/< =HMPpQDYåG\GEHMWHDE\P OSURGOXåRYDFtNDEHO RGSRYtGDMtFt SU H] YL] Ä7(&+1,&.e Ò'$-( 3 LSRXåLWtNDEHORYpKREXEQXNDEHO~SOQ RGYL WH 3RXåtYiWHOL SLOX YH YHQNRYQtP SURVW HGt GEHMWH DE\ E\O SRXåLWê QDSiMHFt NDEHO YKRGQê N SRXåLWt YH YHQNRYQtP SURVW HGt D DE\ E\O VSUiYQ GLPHQ]RYDQê .DEHO SRORåWH GR PtVWD PLPR REODVW H]iQt D XORåWH MHM WDN DE\ S L H]iQt QHGRãOR N MHKR ]DFK\FHQtY WYHPLDWS 1HSURYR]XMWH HW ]RYRXSLOXYEOt]NRVWLKR ODYpKR SUDFKX QHER SO\Q 0RWRU Y\WYi t MLVNU\ D S HGVWDYXMHUL]LNRYêEXFKX 3UDFXMWH SRX]H QD SHYQpP SRYUFKX D ]DXMP WH GREUê SRVWRM =YêãHQRX SR]RUQRVW Y QXMWH S HNiåNiP QDS NDEHOX QD SUDFRYLãWL =YêãHQRXSR]RUQRVWY QXMWHPtVW PNGHYOKNRVW VQtK HUVWY X H]DQp G HYR QHER N UD P åH ]S VRELW NOX]NRVW 3 L SUiFL V SLORX QHVW MWH QD åHE tNXDQLQDVWURP =YêãHQp RSDWUQRVWL GEHMWH S L SUiFL QD VYDKX NXWiOHMtFt VH NPHQ\ D Y WYH S HGVWDYXMt SRWHQFLiOQtUL]LNR 1LNG\QH HåWHQDG~URYQtUDPHQ 3 L ]DSQXWt D SRXåtYiQt GUåWH HW ]RYRX SLOX RE PD UXNDPD 'UåWH ]DGQt GUåDGOR SUDYRX UXNRX D S HGQt GUåDGOR OHYRX UXNRX 8FKRSWH GUåDGOD SHYQ RE PD SDOFL 3 L ]DSQXWt SLO\ VH PH D HW ]QHVPtGRWêNDWåiGQpKRS HGP WX HW ]RYRX SLOX QHSRXåtYHMWH N Si HQt DQL RGPHWiQtNXV G HYDQHERMLQêFKS HGP W HW ]RYRXSLOXYH WHWDNDE\VHGRSURGORXåHQp GUiK\ HW ]RYpSLO\QHGRVWDODåiGQi iVWYDãHKR W ODYL]REUi]HN 3RNXG VH PH]L MHGQRWOLYêPL H]\ SRK\EXMHWH DNWLYXMWHEU]GX HW ]XDE\QHGRãORNQHFKW QpPX VSXãW Qt SLORYpKR HW ]X 3 L S HQiãHQt XFKRSWH HW ]RYRXSLOX]DS HGQtGUåDGORDQHGUåWHSUVWQD VStQD L % KHP S HVWiYN\ QHER SRNXG HW ]RYRX SLOX SRQHFKiYiWH EH] GR]RUX ML RGSRMWH RG HOHNWULFNp VtW 3RORåWH HW ]RYRX SLOX WDN DE\ QHPRKOD S HGVWDYRYDWUL]LNR =S WQêUi] % KHP SUiFH V HW ]RYRX SLORX P åH GRMtW N QHEH]SH QpPX ]S WQpPX Ui]X =S WQê Ui] Y]QLNi SRNXG VH ãSL ND PH H ]HMPpQD KRUQt WYUWLQD GRVWDQH GR VW\NX V G HYHP QHER MLQêP SHYQêP S HGP WHP 1iVOHGQ GRFKi]t N Y\FKêOHQt HW ]RYpSLO\YHVP UXREVOXK\ 2 LVW WHREODVW H]iQtRGFL]tFKS HGP W MDNRMH QDS tNODG StVHN NDPHQ\ K HEtN\ GUiW\ DSRG 7\WR PRKRX SRãNRGLW PH D HW ] D ]S VRELW QHEH]SH Qê]S WQêUi] =YêãHQRX RSDWUQRVW ]DFKRYiYHMWH S L H]iQt Y EOt]NRVWL GUiW QêFK SORW 1H HåWH GR SORWX 9 RSD QpP S tSDG P åH GRMtW NH ]S WQpPX Ui]X SLO\ 1H HåWHGR]HP ' HYR HåWH SR MHGQRWOLYêFK NXVHFK D QLNROLY YH VYD]FtFK 3LORX QH HåWH WHQNp Y WYH D NR HQ\ SURWRåH E\ PRKOR GRMtW N MHMLFK ]DPRWiQt GR SLORYpKR HW ]X =WUiWDURYQRYiK\S HGVWDYXMHUL]LNR 3 L ]SUDFRYiYiQt H]LYD SRXåtYHMWH EH]SH QRX SRGS UXNR]OtN 'RGUåXMWH QiVOHGXMtFt SRN\Q\ DE\ QHGRãOR NH ]S WQpPXUi]X 1LNG\QH]D tQHMWH H]ãSL NRXPH H 1LNG\ S L H]iQt QHSRXåtYHMWH ãSL NX PH H =YOiãWQt RSDWUQRVW ]DFKRYiYHMWH S L SRNUD RYiQtY H]HFKNWHUpMVWHMLå]D DOL H]]DKDMWHS LE åtFtP HW ]X HW ] YåG\ RVW HWH VSUiYQêP ]S VREHP 'EHMWH ]YOiãW QD VSUiYQp QDVWDYHQt YêãN\ RPH]RYDFtSDWN\ 1LNG\VRX DVQ QH HåWHQ NROLNY WYt 3 L RGY WYRYiQt GiYHMWH SR]RU DE\ VH PH QHGRVWDOGRNRQWDNWXVGDOãtPLY WYHPL 3 LGUXKRYiQtVHGUåWHPLPRVRXVHGQtNPHQ\ 9åG\SR]RUXMWHãSL NXPH H 3RXåLMWHNR]OtN %H]SH QRVWQt]D t]HQt 3 HG]DKiMHQtPSUiFHYåG\]NRQWUROXMWH]GDMVRX EH]SH QRVWQt]D t]HQtYHIXQN QtPVWDYX-HVWOLåH EH]SH QRVWQt ]D t]HQt QHIXQJXMt VSUiYQ HW ]RYRXSLOXQHSRXåtYHMWH %U]GD HW ]X HW ]RYi SLOD MH Y\EDYHQD EU]GRX HW ]X NWHUi ]DMLã XMH ]DVWDYHQt SLORYpKR HW ]X YH ]ORPNX VHNXQG\ %U]GD VH DNWLYXMH S L SRVXQXWt FKUiQL H UXN\VP UHPGRS HGX3RWpVHSLORYê HW ]]DVWDYt GRVDVRX DVQ VHS HUXãtS tYRGHOHNWULFNp HQHUJLHGRPRWRUX $NWLYQtEU]GD HW ]X 8YROQ QiEU]GD HW ]X 'RE KRYiEU]GD HW ]RYi SLOD MH Y\EDYHQD GRE KRYRX EU]GRX NWHUi]DMLã XMHRNDPåLWp]DVWDYHQtSLORYpKR HW ]X S L XYROQ Qt VSRXãW FtKR VStQD H 212)) =DEUD XMH VH WDN SRNUD XMtFtPX RWi HQt SLORYpKR HW ]XS LY\SQXWtSLO\DSRWHQFLiOQtP]UDQ QtP 3 HGQt D ]DGQt FKUiQL UXN\ FKUiQt XåLYDWHOH S HG ]UDQ QtP RGãW SN\ G HYD MHå PRKRX EêW Y\YUKRYiQ\ GR]DGX D S HG S HWUåHQêP SLORYêP HW ]HP =iPHN VSRXãW ]DEUD XMH QHFKW QpPX VSXãW Qt HW ]RYpSLO\ =DFK\FRYD HW ]X FKUiQt XåLYDWHOH S HG ]UDQ QtP NH NWHUpPX E\ PRKOR GRMtW S L XYROQ Qt QHERS HWUåHQt HW ]X 3 HSUDYDDVNODGRYiQt 3RNXG HW ]RYRXSLOXQHSRXåtYiWHQHER E KHP S HSUDY\ RGSRMWH Vt RYRX ]iVWU NX D QDVD WH GRGDQê NU\W YRGLFt OLãW\ 3LOX QLNG\ QHS HQiãHMWH DQL QHS HSUDYXMWH VH VSXãW QêP SLORYêP HW ]HP HW ]RYRX SLOX S HQiãHMWH SRX]H ]D S HGQt GUåDGORDPH P MWHRWR HQVP UHPGR]DGX HW ]RYRXSLOXYåG\XNOiGHMWHYEH]SH QpVXFKp D X]DP HQp PtVWQRVWL PLPR GRVDK G Wt HW ]RYRX SLOX QHVNODGXMWH YH YHQNRYQtFK SURVWRUiFK Ò'5ä%$ 3 HG SURYiG QtP MDNêFKNROLY QDVWDYHQt QHER ~GUåE\RGSRMWH]HVt RYp]iVXYN\]iVWU NX 3UDYLGHOQ NRQWUROXMWH ]GD QHGRãOR N SRãNR]HQt L]RODFHQDSiMHFtKRNDEHOX HW ]RYRXSLOXSUDYLGHOQ LVW WH 3 tSDGQp SRãNR]HQt SODVWRYp VN tQ QHFKHMWH iGQ DRNDPåLW RSUDYLW 3LOX QHSRXåtYHMWH MHVWOLåH QHSUDFXMH VSUiYQ VSRXã 6SRXã QHFKWHQiOHåLW RSUDYLW =D åiGQêFK RNROQRVWt QHSURYiG MWH QD HW ]RYp SLOHåiGQp~SUDY\0RKORE\GRMtWNRKURåHQtYDãt EH]SH QRVWL 1HSURYiG MWH åiGQRX ~GUåEX DQL RSUDY\ MHå QHMVRX SRSViQ\ Y WRPWR QiYRGX N REVOX]H 9HãNHUp MLQp SUiFH PXVt EêW SURYHGHQ\ Y DXWRUL]RYDQêFKVHUYLVQtFKVW HGLVFtFK 3RXåtYHMWH SRX]H RULJLQiOQt QiKUDGQt GtO\ D S tVOXãHQVWYt XU HQp SUR Yiã PRGHO SLO\ 3 L SRXåLWtMLQêFKGtO VH]Y\ãXMHQHEH]SH t~UD]X 1HS LMtPiPHåiGQRXRGSRY GQRVW]D~UD]\ LãNRG\ ]S VREHQp SRXåLWtP QHVFKYiOHQêFK OLãW SLORYêFK HW ] LMLQêFKQiKUDGQtFKGtO DS tVOXãHQVWYt 3UYQtSRPRF 1HSUDFXMWH VDPL 3 L SUiFL P MWH YåG\ YH Y]GiOHQRVWL GR NWHUp P åHWH GRN LNQRXWGDOãtRVREX 0 MWH YåG\ SR UXFH OpNiUQL NX 3RXåLWê REVDK OpNiUQL N\MHQXWQRRNDPåLW QDKUDGLW %XGHWHOLYS tSDG QHKRG\åiGDWRSRPRFVG OWH QiVOHGXMtFtLQIRUPDFH .GHGRãORNQHKRG " &RVHVWDOR" .ROLNRVREMH]UDQ QR" -DNi]UDQ QtVHVWDOD" .GRQHKRGXKOiVt" 32=1È0.$ 2VRE\ VH ãSDWQêP RE KHP Y\VWDYHQp S VREHQt S tOLã YHONêFK YLEUDFt PRKRX XWUS W ]UDQ Qt FpY QHER QHUYRYpKRV\VWpPX 9LEUDFH PRKRX QD SUVWHFK UXNRX QHER ]iS VWtFK ]S VRELW QiVOHGXMtFt S t]QDN\ SRFLW QHFLWOLYRVWL PUDYHQ HQt EROHVW SRFLW ERGDYp EROHVWL ]P QX EDUY\ SRNRåN\QHERVWDYXSRNRåN\ 7UStWHOLMDNêPNROLY]W FKWRS t]QDN Y\KOHGHMWHOpND H 7<7232.<1<86&+29(-7( 9$529È1Ë 1('292/7( DE\ SRKRGOQRVW QHER SRFLW ]QDORVWL YêURENX ]tVNDQê QD ]iNODG RSDNRYDQpKR SRXåtYiQt YHGO\ N ]DQHGEiQt GRGUåRYiQt EH]SH QRVWQtFKSUDYLGHOSODWQêFKSURWHQWRYêUREHN 1(635È91e 328äË9È1Ë QHER QHGRGUåHQt EH]SH QRVWQtFKSUDYLGHOXYHGHQêFKYWRPWRQiYRGX NREVOX]HP åH]S VRELWYiåQp]UDQ Qt 323,6'Ë/ 0RGHO V PDWLFHPL NU\W HW ]RYpKR NROD MH GRWDåHQ PDWLFHPL 3UR0RGHO(6(6(6(6(6 (6(6(6 0RGHO V Si NRX NU\W HW ]RYpKR NROD MH GRWDåHQ Si NRX 3UR0RGHO(67/&(67/&(67/& (67/&(67/&(67/& (67/&(67/& 3ODWtSURYãHFKQ\PRGHO\ 0217Èä 32=25 1Hå ]D QHWH QD QiVWURML SURYiG W MDNpNROLY SUiFH YåG\ VH S HGWtP S HVY G WH åH MH Y\SQXWê D Y\WDåHQê]H]iVXYN\ 1DVD]HQtDVHMPXWtNU\WX HW ]RYpKRNROD 3 L GHPRQWiåL NU\WX HW ]RYpKR NROD SRVWXSXMWH SRGOH QiVOHGXMtFtFKNURN 3ODWtSURPRGHO\VPDWLFHPL )LJ 3RYROWHPDWLFL 3ODWtSURPRGHO\VSi NRX )LJ 6WLVNQ WHD]FHODRWHY HWHSi NXDåQDGRUD] 2WR WHSi NRXVP UHPYOHYR 3 L LQVWDODFL NU\WX HW ]RYpKR NROD SRVWXSXMWH SRGOH NURN YRSD QpPVOHGX 6HMPXWtDLQVWDODFHSLORYpKR HW ]X 32=25 3 L LQVWDODFL D GHPRQWiåL SLORYpKR HW ]X YåG\ SRXåtYHMWHRFKUDQQpUXNDYLFH 3 L GHPRQWiåL SLORYpKR HW ]X SRVWXSXMWH SRGOH QiVOHGXMtFtFKNURN 3RYROWHNU\W HW ]RYpKRNROD 0RGHO\ V PDWLFHPL 2Wi HQtP VH L]RYDFtKR ãURXEX HW ]X YOHYR XYROQ WH QDSQXWt SLORYpKR HW ]X 0RGHO\ V Si NRX 2Wi HQtP VH L]RYDFtKR NQRIOtNX VP UHP N V\PEROX ı³ XYROQ WH QDSQXWt SLORYpKR HW ]X )LJ )LJ 'HPRQWXMWHNU\W HW ]RYpKRNROD 'HPRQWXMWHSLORYê HW ]DPH ] HW ]RYpSLO\ 3 L PRQWiåL SLORYpKR HW ]X SRVWXSXMWH SRGOH QiVOHGXMtFtFKNURN =DMLVW WH VSUiYQp QDVP URYiQt HW ]X 6SUiYQê VP UMHQD HW ]XY\]QD HQ]QD NRXãLSN\ )LJ -HGHQ NRQHF SLORYpKR HW ]X QDVD WH QD KRUQt VWUDQX YRGLFt OLãW\ D GUXKê NRQHF YH WH NROHP HW ]RYpKRNROD 1D HW ]RYRXSLOXQDVD WHYRGLFtOLãWX 9\URYQHMWH SRVXYQê QDStQiN V RWYRUHP YH YRGLFt OLãW )LJ 3 LGUåWH YRGLFt OLãWX D RWi HQtP VH L]RYDFtKR ãURXEXNQRIOtNX HW ]X VH L WH QDSQXWt SLORYpKR HW ]X 1DVD WH NU\W HW ]RYpKR NROD WDN DE\ Ki N\ GRVHGO\SRGpORWYRU D HSGRVHGOGRSURWLNXVXY NU\WX HW ]RYpKRNROD )LJ 3 LWiKQ WHNU\W HW ]RYpKRNROD )LJ )LJ ÒSUDYDQDSQXWtSLORYpKR HW ]X 3R PQRKD KRGLQiFK SURYR]RYiQt VH P åH SLORYê HW ] SRYROLW DV RG DVX S HG ]DKiMHQtP SRXåtYiQt ]NRQWUROXMWHQDSQXWtSLORYpKR HW ]X 0tUQ SRYROWHNU\W HW ]RYpKRNROD 0tUQ ]YHGQ WHNRQHFYRGLFtOLãW\ 2Wi HQtP VH L]RYDFtKR ãURXEXNQRIOtNX VH L WH QDSQXWtSLORYpKR HW ]X )LJ )LJ 1DSQ WH SLORYê HW ] Då GROQt VWUDQD SLORYpKR HW ]X GRVHGQH GR YHGHQt YRGLFt OLãW\ YL] REODVW R]QD HQiNURXåNHP 9RGLFt OLãWX VWiOH ]OHKND S LGUåXMWH D SR VH t]HQt QDSQXWt HW ]X GRWiKQ WH NU\W HW ]RYpKR NROD 8MLVW WHVH]GDVH SLORYê HW ]QDVSRGQtVWUDQ QHXYROQLO =DMLVW WHDE\SLORYê HW ]W VQ GRVHGOGRVSRGQtVWUDQ\ OLãW\ 32=25 3LORYê HW ] QHQDStQHMWH S tOLã 3 tOLã VLOQp QDSQXWt SLORYpKR HW ]X P åH ]S VRELW S HWUåHQt SLORYpKR HW ]X RSRW HEHQt YRGLFt OLãW\ D SRãNR]HQt VH L]RYDFtKRNQRIOtNX 3 tOLã SRYROHQê HW ] P åH Y\VNR LW ] OLãW\ FRå ]QDPHQiQHEH]SH tQHKRG\ 3RVWXS PRQWiåH L VHMPXWt SLORYpKR HW ]X SURYiG MWH Y LVWpP SURVW HGt EH] YêVN\WX SLOLQ D MLQêFKQH LVWRW 3RXåtYiQtSURGOXåRYDFtKRNDEHOX 32=25 =NRQWUROXMWH]GDMHSURGOXåRYDFtNDEHORGSRMHQRG ]iVXYN\ )LJ 3 L SRXåtYiQt SURGOXåRYDFtKR NDEHOX VSRMWH SURGOXåRYDFtNDEHOVNDEHOHP HW ]RYpSLO\S tFK\WNRX 3 tFK\WNX S LSRMWH S LEOLåQ Då PP RG NRQHNWRUX SURGOXåRYDFtKR NDEHOX =DPH]tWH WDN QHFKW QpPXUR]SRMHQt 35È&( 32=25 3 LSUiFLGUåWHQi DGtSHYQ SUDYRXUXNRX]D]DGQt GUåDGORDOHYRXUXNRX]DS HGQtGUåDGOR =DStQiQt )LJ 32=25 3 HG NRQWURORYiQtP IXQNFH VSRXãW VH YåG\ XMLVW WH ]GD MH Qi DGt Y\SQXWp D RGSRMHQp RG Vt RYpKRQDSiMHQt 3 HG S LSRMHQtP QiVWURMH GR ]iVXYN\ YåG\ ]NRQWUROXMWH ]GD VSRXã IXQJXMH VSUiYQ D SR XYROQ QtVHYUDFtGRY\SQXWpSRORK\ -DNR SUHYHQFH QiKRGQpKR VWLVNQXWt VSRXãW MH N GLVSR]LFLRGMLã RYDFtWOD tWNR &KFHWHOL Qi DGt VSXVWLW VWLVNQ WH RGMLã RYDFt WOD tWNR D SRWRPVSRXã 9\SQXWtSURYHGHWHXYROQ QtPVSRXãW 0D]iQt 32=25 3 HGPD]iQtPSLORYpKR HW ]XVHYåG\S HVY G WH ]GD MH QiVWURM Y\SQXWê D RGSRMHQê RG HOHNWULFNp VtW )LJ 3LORYê HW ] D OLãWX SURPD]iYHMWH ELRORJLFN\ RGERXUDWHOQêP ROHMHP QD SLORYp HW ]\ V DGKH]Qt S tVDGRX $GKH]Qt S tVDGD Y ROHML QD SLORYp HW ]\ ]DPH]t S tOLã U\FKOpPX RGVW LNRYiQt ROHMH ] SLO\ 0LQHUiOQtROHMHVHQHVPtSRXåtYDWQHER MVRXãNRGOLYp SURåLYRWQtSURVW HGt 32=25 =DEUD WHVW\NXROHMHVSRNRåNRXDR LPD.RQWDNW VR LPD]S VREXMHSRGUiåG Qt3 L]DVDåHQtR tMH LKQHG Y\SOiFKQ WH LVWRX YRGRX D RNDPåLW Y\KOHGHMWHOpND VNRXSRPRF 1LNG\ QHSRXåtYHMWH RGSDGQt ROHM 3RXåLWê ROHM REVDKXMH NDUFLQRJHQQt OiWN\ =QH Lã XMtFt OiWN\ REVDåHQp Y SRXåLWpP ROHML XU\FKOXMt RSRW HEHQt ROHMRYpKR HUSDGODPH HD HW ]X3RXåLWêROHMMH QHEH]SH QêåLYRWQtPXSURVW HGt 3 L SUYQtP SOQ Qt HW ]RYp SLO\ HW ]RYêP ROHMHP QHER GRSO RYiQt QiGUåH SR ~SOQpP Y\SUi]GQ Qt QDOpYHMWH ROHM Då N GROQtPX RNUDML SOQLFtKR KUGOD 9 RSD QpP S tSDG PRKRX Y]QLNQRXW SUREOpP\ V S tYRGHPROHMH )LJ 3 L GRSO RYiQt ROHMH SRVWXSXMWH SRGOH QiVOHGXMtFtFK NURN 2 LVW WH G NODGQ REODVW NROHP Yt ND SOQLFtKR RWYRUX ROHMH DE\ GR ROHMRYp QiGUåH QHYQLNO\ åiGQpQH LVWRW\ 2GãURXEXMWH Yt NR SOQLFtKR RWYRUX ROHMH D QDOpYHMWHROHMDåNGROQtPXRNUDMLSOQLFtKRKUGOD 1DãURXEXMWH Yt NR SOQLFtKR RWYRUX ROHMH SHYQ ]S WQDPtVWR 3H OLY RW HWHMDNêNROLYXQLNOêROHM 32=1È0.$ 3 L SUYQtP XYHGHQt HW ]RYp SLO\ GR FKRGX P åH WUYDWDåGY PLQXW\QHå]D QH HW ]RYêROHM iGQ PD]DWPHFKDQLVPXVSLO\3LOXQHFKHMWHVSXãW QRX EH] ]DWtåHQt GRNXG QHEXGH GRVDåHQR VSUiYQpKR PD]iQtYL]Ä.21752/< .21752/< 3 HG]DKiMHQtPSUiFHSURYH WHQiVOHGXMtFtNRQWURO\ .RQWURODQDSQXWt HW ]X 9$529È1Ë 3 HGNRQWURORXQDSQXWt HW ]XYåG\QiVWURMRGSRMWH RGHOHNWULFNpVtW 3RXåtYHMWHRFKUDQQpUXNDYLFH 3ODWtSURPRGHO\VPDWLFHPL )LJ 3ODWtSURPRGHO\VSi NRX )LJ =DMLVW WHDE\SLORYê HW ]W VQ GRVHGOGRVSRGQtVWUDQ\ OLãW\YL]REODVWR]QD HQiNURXåNHP 1DSQXWt HW ]X DVWR NRQWUROXMWH ± QRYp HW ]\ VH SURGOXåXMt 3 tOLã VLOQp QDSQXWt SLORYpKR HW ]X P åH ]S VRELW S HWUåHQt SLORYpKR HW ]X RSRW HEHQt YRGLFt OLãW\ D SRãNR]HQtVH L]RYDFtKRNQRIOtNX 3 tOLãSRYROHQê HW ]P åHY\VNR LW]OLãW\FRå]QDPHQi QHEH]SH tQHKRG\ 3RNXGMH HW ]S tOLãYROQê1DKOpGQ WHGR iVWLÄÒSUDYD QDSQXWt SLORYpKR HW ]X³ D SURYH WH RS WRYQp QDSQXWt SLORYpKR HW ]X .RQWURODIXQNFHVStQD H 32=25 3 HG S LSRMHQtP QiVWURMH GR ]iVXYN\ YåG\ ]NRQWUROXMWH ]GD VSRXã IXQJXMH VSUiYQ D SR XYROQ Qt VH YUDFt GR Y\SQXWpSRORK\ -DNR SUHYHQFH QiKRGQpKR VWLVNQXWt VSRXãW MH N GLVSR]LFLRGMLã RYDFtWOD tWNR &KFHWHOL Qi DGt VSXVWLW VWLVNQ WH RGMLã RYDFt WOD tWNR D SRWRPVSRXã 9\SQXWtSURYHGHWHXYROQ QtPVSRXãW 1HPD NHMWH VSRXã VLORX EH] VWLVNQXWt RGMLã RYDFtKR WOD tWND0RKORE\GRMtWNSRãNR]HQtVStQD H .RQWURODEU]G\ HW ]X 32=1È0.$ 3RNXGVH HW ]RYiSLODQHVSXVWt]NRQWUROXMWH]GD MH XYROQ Qi EU]GD HW ]X 8YROQ Qt EU]G\ HW ]X SURYHGHWH S HVXQXWtP FKUiQL H UXN\ SHYQ GR]DGXDåVH]DMLVWtQDPtVW )LJ )LJ .RQWUROXEU]G\ HW ]XSURYH WHQiVOHGXMtFtP]S VREHP 3 L]DStQiQtGUåWH HW ]RYRXSLOXRE PDUXNDPD =DGQt GUåDGOR GUåWH SUDYRX UXNRX D S HGQt GUåDGOR OHYRX UXNRX 8MLVW WH VH ]GD VH OLãWD DQL HW ]QHGRWêNDMtåiGQpKRS HGP WX 1HMG tYH VWLVNQ WH RGMLã RYDFt WOD tWNR D SRWp VSRXã HW ]RYiSLODVHRNDPåLW VSXVWt + EHWHP UXN\ ]DWOD WH QD S HGQt FKUiQL UXN\ VP UHP YS HG 8MLVW WH VH ]GD SLORYê HW ] RNDPåLW ]FHOD]DVWDYt 32=25 -HVWOLåHVHSLORYê HW ]RNDPåLW QH]DVWDYtSLOX]D åiGQêFK RNROQRVWt QHSRXåtYHMWH 2EUD WH VH QD DXWRUL]RYDQpVHUYLVQtVW HGLVNR'2/0$5 .RQWURODGRE KRYpEU]G\ 8YH WH HW ]RYRXSLOXGRFKRGX 8YROQ WH ]FHOD VSRXã 8MLVW WH VH ]GD SLORYê HW ] E KHPVHNXQG\]FHOD]DVWDYt 32=25 -HVWOLåHVHSLORYê HW ]RNDPåLW QH]DVWDYtSLOX]D åiGQêFK RNROQRVWt QHSRXåtYHMWH 2EUD WH VH QD DXWRUL]RYDQpVHUYLVQtVW HGLVNR'2/0$5 .RQWURODPD]QLFH HW ]X 3 HG]DKiMHQtPSUiFH]NRQWUROXMWHKODGLQXROHMHYQiGUåL DS tYRGROHMH +ODGLQX ROHMH P åHWH VOHGRYDW ROHMR]QDNHP ]Qi]RUQ QêPQDREUi]NX )LJ 3 tYRGROHMH]NRQWUROXMWHQiVOHGRYQ 6SXV WH HW ]RYRXSLOX 6SXV WH SLOX D S LGUåWH SLORYê HW ]S LEOLåQ FP QDG SD H]HP VWURPX QHER QDG ]HPt 3RNXG MH PD]iQt GRVWDWH Qp Y\WYR t UR]SUDãRYDQê ROHM OHKNRX ROHMRYRX VWRSX 6OHGXMWHVP UY WUXDUR]VW LNRYDQpPXROHMLVH]E\WH Q QHY\VWDYXMWH 32=25 3RNXGQHQtYLG WVWRSDROHMHQHSRXåtYHMWHSLOX9 RSD QpP S tSDG GRMGH NH ]NUiFHQt åLYRWQRVWL HW ]X =NRQWUROXMWH KODGLQX ROHMH 9\ LVW WH S tYRGQtGUiåNXROHMHDS tYRGQtRWYRUROHMHYPH L YL]RGVWDYHFÄÒ'5ä%$ 6H t]HQtPD]iQt HW ]X )LJ 9êNRQ ROHMRYpKR HUSDGOD O]H VH tGLW VH L]RYDFtP ãURXEHP 35È&(6 (7 =29283,/28 32=25 9åG\ SRXåtYHMWH S HGQt GUåDGOR L ]DGQt GUåDGOR D S LSUiFLWtPWR]S VREHPQi DGtSHYQ GUåWH H]DQê PDWHULiO YåG\ ]DMLVW WH DE\ YiP RG H]iYDQp iVWLQHX]S VRELO\]UDQ Qt 'UXKRYiQt )LJ 3 LUR] H]iYiQtRS HWH]XERYRXRS UNX]Qi]RUQ QRXQD REUi]NXR H]DQpG HYR 6SXãW QRX HW ]RYRX SLOX ]D t]Q WH GR G HYD ]DGQtP GUåDGOHPSLOX]YHGHMWHDS HGQtPGUåDGOHPYH WH-DNR RS UQêERGSRXåLMWH]XERYRXRS UNX 3RNUD XMWH Y H]X PtUQêP WODNHP QD S HGQt GUåDGOR D SLOX PtUQ SRVXQXMWH ]S W =XERYRX RS UNX S HVX WH Y H]LYXQtåHDRS W]YHGQ WHS HGQtGUåDGOR 3 L SURYiG Qt Q NROLND H] MH W HED PH]L MHGQRWOLYêPL H]\SLOXY\SQRXW 32=25 3RNXG VH S L H]iQt SRXåtYi KRUQt KUDQD PH H P åH S L ]DEORNRYiQt HW ]X GRMtW N Y\FKêOHQt HW ]RYp SLO\ YH YDãHP VP UX = WRKRWR G YRGX SURYiG MWH H]iQt GROQt KUDQRX WDN DE\ E\OD Y WDNRYêFKS tSDGHFKSLODRGFKêOHQDRGYDãHKRW OD )LJ 1HMG tYH HåWHG HYRSRGQDS WtPQDWODNRYpVWUDQ $ 3RWp SURYH WH NRQH Qê H] QD VWUDQ QDS Wt % =DEUiQtWHWDN]DFK\FHQtPH H )LJ 2GY WYRYiQt 32=25 2GY WYRYiQt VPt SURYiG W SRX]H Y\ãNROHQt SUDFRYQtFL 0RåQRVW ]S WQpKR Ui]X V VHERX S LQiãtQHEH]SH t]UDQ Qt 3 L RGY WYRYiQt RS HWH SRNXG PRåQR HW ]RYRX SLOX R NPHQ 1H HåWH ãSL NRX PH H Y\KQHWH VH WDN UL]LNX ]S WQpKRUi]X =YOiãWQt SR]RUQRVW Y QXMWH Y WYtP SRG QDS WtP 1HSRGHS HQpY WYHQH HåWH]HVSRGX 3 LRGY WYRYiQtQHVW MWHQDSRNiFHQpPNPHQX =DSLFKRYiQtD H]\URYQRE åQpVYOiNQ\ 32=25 =DSLFKRYiQt D H]\ URYQRE åQp V YOiNQ\ VPt SURYiG W SRX]H RVRE\ VH ]YOiãWQtP ãNROHQtP 0RåQRVW]S WQpKRUi]XVVHERXS LQiãtQHEH]SH t ]UDQ Qt )LJ H]\ URYQRE åQp V YOiNQ\ SURYiG MWH SRG FR QHMPHQãtP ~KOHP H] SURYiG MWH FR QHMRSDWUQ ML QHER YWpWRVLWXDFLQHO]HSRXåtW]XERYRXRS UNX .iFHQt 32=25 .iFHQt VPt SURYiG W SRX]H Y\ãNROHQt SUDFRYQtFL 3UiFHVVHERXQHVHUL]LNR 3 LNiFHQtVWURP GRGUåXMWHPtVWQtVP UQLFH )LJ 3 HG ]DKiMHQtP NiFHQt VH S HVY G WH R QiVOHGXMtFtP 9 PtVW NiFHQt VPt EêW S tWRPQ\ SRX]H SRYRODQpRVRE\ 2VRE\ SRGtOHMtFt VH QD NiFHQt PXVt PtW N GLVSR]LFLRWHY HQRX~QLNRYRXWUDVXYUR]PH]t S LEOLåQ QD RERX VWUDQiFK RV\ NiFHQt 3 L NiFHQt Y EOt]NRVWL HOHNWULFNêFK YHGHQt YH]P WHY~YDKXGRGDWH QiUL]LND 'ROQt iVW NPHQH QHVPt REVDKRYDW FL]t S HGP W\NR HQ\DY WYH 9H Y]GiOHQRVWL QiVRENX GpON\ NPHQH YH VP UX SiGX VWURPX VH QHVPt QDFKi]HW åiGQpRVRE\DQLREMHNW\ 8NDåGpKRVWURPXYH]P WHY~YDKXQiVOHGXMtFt 6P UQiNORQX 8YROQ QpQHERVXFKpY WYH 9êãNDVWURPX 3 LUR]HQêS HYLV =GDMH LQHQtVWURPVKQLOê 9H]P WH Y ~YDKX U\FKORVW D VP U Y WUX 1HSURYiG MWHNiFHQtS LVLOQpPQiUD]RYpPY WUX 2 H]iYiQt NR HQRYêFK QiE K =D Q WH V QHMY WãtPL NR HQRYêPL QiE K\ 3URYH WH QHMG tYH VYLVOêDDåSRWpYRGRURYQê H] )LJ 3URYH WH VP URYê ]iVHN 6P URYê ]iVHN XU XMH VP UYHNWHUpPVWURPVSDGQHDS LSiGXMHMYHGH 3URYiGt VH QD VWUDQ Y MHMtPå VP UX Pi VWURP VSDGQRXW 6P URYê ]iVHN SURYH WH FR QHMEOtåH ]HPL 1HMG tYH SURYH WH YRGRURYQê H] R KORXEFH DåSU P UXNPHQH6P URYê]iVHNQHVPt EêWS tOLãYHONê3RWpSURYH WHGLDJRQiOQt H] 3URYH WH SRW HEQp ~SUDY\ SR FHOp GpOFH VP URYpKR]iVHNX )LJ 3URYH WHKODYQt H]RQ FRYêãHQHå]iNODGQt H] VP URYpKR ]iVHNX +ODYQt H] PXVt EêWGRNRQDOH YRGRURYQê 3RQHFKHMWH PH]L KODYQtP H]HP D VP URYêP]iVHNHPS LEOLåQ SU P UXNPHQH ' HYQt YOiNQD Y QHRG H]DQp iVWL NPHQH S VREt MDNR ]iY V =D åiGQêFK RNROQRVWt QH HåWH S tPR S HV YOiNQD MLQDN E\ VWURP SDGO QHNRQWURORYDQ 'RKODYQtKR H]XY DVYORåWHNOtQ\ . XGUåHQt KODYQtKR H]X Y RWHY HQpP VWDYX MH GRYROHQR SRXåtW SRX]H SODVWRYp QHER KOLQtNRYp NOtQ\3RXåtYiQtåHOH]QêFKNOtQ MH]DNi]iQR 3RVWDYWHVHQDVWUDQXRGSDGDMtFtKRVWURPX3URVWRU ]D VWURPHP XGUåXMWH YROQê Y UR]PH]t QD RE VWUDQ\RGRV\SDGDMtFtKRVWURPXYL]REUi]HNÄREODVW SiGX'iYHMWHSR]RUQDSDGDMtFtY WYH 9 S tSDG QXWQRVWL MH S HG H]iQtP SRW HED QDSOiQRYDW D Y\NOLGLW ~QLNRYRX FHVWX ÒQLNRYRX FHVWX MH W HED QDVP URYDW GR]DGX ãLNPR N ]DGQt OLQLLR HNiYDQpKRSiGXVWURPXMDNMH]Qi]RUQ QR QDREUi]NX )LJ Ò'5ä%$ 32=25 1Hå ]D QHWH SURYiG W NRQWUROX QHER ~GUåEX QiVWURMH YåG\ VH S HVY G WH åH MH Y\SQXWê D Y\WDåHQê]H]iVXYN\ 3 L SURYiG Qt NRQWURO D ~GUåE\ YåG\ SRXåtYHMWH RFKUDQQpUXNDYLFH 1LNG\ QHSRXåtYHMWH EHQ]tQ EHQ]HQ HGLGOR DONRKRO L SRGREQp SURVW HGN\ 0RKOR E\ WDN GRMtW NH]P QiPEDUY\GHIRUPDFtP LY]QLNXSUDVNOLQ ÒGUåEX SRSLVRYDQRX QtåH SURYiG MWH Y SUDYLGHOQêFK LQWHUYDOHFK =iUX Qt UHNODPDFH EXGRX X]QiQ\ SRX]H Y S tSDG åHW\WR LQQRVWLE\O\SURYiG Q\SUDYLGHOQ D iGQ 8åLYDWHOpVPtSURYiG WSRX]H~GUåEXSRSLVRYDQRXYWRPWR QiYRGXNREVOX]H9HãNHUpMLQpSUiFHPXVtEêWSURYHGHQ\Y DXWRUL]RYDQêFKVHUYLVQtFKVW HGLVFtFK'2/0$5 LãW Qt HW ]RYpSLO\ 3LOXSUDYLGHOQ LVW WH LVWêPKDGUHP=HMPpQDGUåDGOD QHVPtEêW]QH LãW QDROHMHP .RQWURODSODVWRYpVN tQ 3URYiG MWH SUDYLGHOQRX YL]XiOQt NRQWUROX YãHFK iVWt SOiãW =MLVWtWHOL SRãNR]HQt MDNêFKNROL GtO QHFKWH MH RNDPåLW D iGQ RSUDYLW Y DXWRUL]RYDQpP VHUYLVQtP VW HGLVNX'2/0$5 2VW HQtSLORYpKR HW ]X 32=25 3 HG SURYiG QtP SUDFt QD SLORYpP HW ]X YåG\ RGSRMWH Vt RYRX ]iVWU NX D SRXåtYHMWH RFKUDQQp UXNDYLFH )LJ 3LORYê HW ]MHQXWQRQDRVW LWYQiVOHGXMtFtFK S tSDGHFK 3 L H]iQtYOKNpKRG HYDY]QLNDMtPRX QpSLOLQ\ HW ]SURQLNiREWtåQ GRG HYDDWRLS LY\YLQXWt VLOQpKRWODNX H]QiKUDQDMHYLGLWHOQ SRãNR]HQD 3LODYG HY WiKQHGROHYDQHERGRSUDYD3 t LQRX WRKRWR FKRYiQt MH QHURYQRP UQp QDRVW HQt SLORYpKR HW ]XQHERMHGQRVWUDQQpSRãNR]HQt 3LORYê HW ]RVW HWH DVWRDOHS LNDåGpPRVW HQt RGVWUD XMWHSRX]HPDOpPQRåVWYtPDWHULiOX . E åQpPX QDRVW HQt REY\NOH SRVWD XMt GYD QHER W L WDK\ SLOQtNHP 3R Q NROLND QDRVW HQtFK SLORYpKR HW ]X QHFKWH HW ] QDRVW LW Y DXWRUL]RYDQpP VHUYLVQtP VW HGLVNX'2/0$5 .ULWpULDRVW HQt 9ãHFKQ\ GpON\ E LWX PXVt EêW VWHMQp % LW\ UR]GtOQêFK GpOHN]QHPRå XMt SO\QXOê E K HW ]X D PRKRX]S VRELWMHKRS HWUåHQt HW ] MLå QHRVW HWH MDNPLOH E\OR GRVDåHQR PLQLPiOQt GpON\ H]QêFK QiVWURM PP 9 WDNRYpPS tSDG MHQXWQRQDLQVWDORYDWQRYê HW ] 7ORXã ND W tVN\ MH GiQD Y]GiOHQRVWt PH]L RPH]RYDFtSDWNRXREOêPQRVHPDE LWHP 1HMOHSãtFKYêVOHGN H]iQtGRViKQHWHQDVWDYHQtP QiVOHGXMtFt Y]GiOHQRVWL PH]L E LWHP D RPH]RYDFt SDWNRX 3LORYê HW ]3;PP )LJ 9$529È1Ë 3 tOLãYHONiY]GiOHQRVW]Y\ãXMHUL]LNR]S WQpKRUi]X ~KHO RVW HQt PXVt EêW X YãHFK E LW VKRGQê 5R]GtO\ Y ~KOHFK PRKRX YpVW N KUXEpPX D QHURYQRP UQpPX SRK\EX HW ]X XU\FKOXMt RSRW HEHQtD]S VREXMtS HWUåHQt HW ]X ÒKHO ER Qt KUDQ\ E LWX MH GiQ KORXENRX SU QLNX NUXKRYpKR SLOQtNX 3 L iGQpP SRXåLWt VWDQRYHQpKR SLOQtNX VH VSUiYQê ~KHO ER Qt KUDQ\ Y\WYR tDXWRPDWLFN\ ÒKO\ ER Qt KUDQ\ SUR MHGQRWOLYp SLORYp HW ]\ MVRX QiVOHGXMtFt 3LORYê HW ]3; )LJ 3LOQtNDYHGHQtSLOQtNX . RVW HQt HW ]X SRXåtYHMWH VSHFLiOQt NUXKRYê SLOQtN YROLWHOQp S tVOXãHQVWYt QD SLORYp HW ]\ % åQpNUXKRYpSLOQtN\QHMVRXYKRGQp 3U P U\ NUXKRYêFK SLOQtN SUR MHGQRWOLYp SLORYp HW ]\MVRXQiVOHGXMtFt 3LORYê HW ]3;PP 3LOQtNHP RGHEtUHMWH PDWHULiO E LWX SRX]H S L SRK\EX YS HG 3 L]S WQpP SRK\EX SLOQtN RG E LWX RGGDOWH 1HMSUYH QDRVW HWH QHMNUDWãt E LW 'pOND QHMNUDWãtKR E LWX VH SDN VWDQH Y]RUHP SUR YãHFKQ\ RVWDWQt E LW\SLORYpKR HW ]X )LJ 3LOQtNYH WHWDNMDNMHLOXVWURYiQRQDREUi]NX 3LOQtN O]H YpVW VQDGQ ML S L SRXåLWt GUåiNX SLOQtNX YROLWHOQp S tVOXãHQVWYt 'UåiN SLOQtNX MH RSDW HQ ]QD NDPL SUR VSUiYQê ~KHO RVW HQt ]QD N\ XPtVW WH URYQRE åQ V SLORYêP HW ]HP D RPH]XMHKORXENXSU QLNXQDSU P UXSLOQtNX )LJ 3R QDRVW HQt HW ]X ]NRQWUROXMWH YêãNX KORXENRYpKR GRUD]X SRPRFt HW ]RYp P UN\ YROLWHOQpS tVOXãHQVWYt )LJ 6SHFLiOQtPSORFKêPSLOQtNHPYROLWHOQpS tVOXãHQVWYt RGVWUD WHS tSDGQêS HE\WH QêPDWHULiO 2S W]DREOHWHS HGQtVWUDQXKORXENRYpKRGRUD]X LãW QtPH HDPD]iQtYUDWQpKR HW ]RYpKR NROD 32=25 3 LWpWR LQQRVWLYåG\SRXåtYHMWHRFKUDQQpUXNDYLFH 2W HS\S HGVWDYXMtUL]LNRSRUDQ Qt )LJ 3UDYLGHOQ NRQWUROXMWH SRãNR]HQt SURYR]QtFK SRYUFK PH H9KRGQêPQiVWURMHPSURYH WH LãW QtDYS tSDG SRW HE\RGVWUD WHRW HS\ -HOL HW ]RYi SLOD SRXåtYiQD DVWR SURPD]iYHMWH ORåLVNRYUDWQpKR HW ]RYpKRNRODQHMPpQ MHGQRXWêGQ 3 HG DSOLNDFt HUVWYpKR WXNX SH OLY Y\ LVW WH PP RWYRU QD ãSL FH PH H D SRWp GR RWYRUX YWOD WH PDOp PQRåVWYtYtFH~ HORYpKRWXNXYROLWHOQpS tVOXãHQVWYt LãW QtYRGtWNDROHMH )LJ 9 SUDYLGHOQêFK LQWHUYDOHFK LVW WH YRGLFt GUiåNX ROHMHDS tYRGQtRWYRUROHMH 1RYpSLORYp HW ]\ 3RXåtYHMWH VW tGDY GYD QHER W L SLORYp HW ]\ DE\ VH SLORYê HW ] HW ]RYp NROR D SURYR]Qt SRYUFK\ PH H RSRW HERYiYDO\URYQRP UQ 3 L YêP Q HW ]X PH RWR WH DE\ VH URYQRP UQ RSRW HERYiYDODGUiåNDPH H 32=25 3RXåtYHMWHSRX]H HW ]\DOLãW\VFKYiOHQpSURGDQê PRGHOSLO\YL]Ä7(&+1,&.eÒ'$-(³ )LJ 3 HG QDVD]HQtP QRYpKR SLORYpKR HW ]X ]NRQWUROXMWH VWDY HW ]RYpKRNROD 9êP QDXKOtN )LJ 8KOtN\ SUDYLGHOQ Y\MtPHMWH D NRQWUROXMWH -VRXOL RSRW HEHQp Då SR PH]Qt ]QD NX Y\P WH MH 8KOtN\ PXVt EêW LVWp D PXVt YROQ ]DSDGDW GR VYêFK GUåiN 2ED XKOtN\ MH W HED Y\P RYDW VRX DVQ 3RXåtYHMWH YêKUDGQ VWHMQpXKOtN\ )LJ 3RPRFt ãURXERYiNX RGãURXEXMWH Yt ND XKOtN 9\MP WH RSRW HEHQp XKOtN\ YORåWH QRYp D ]DãURXEXMWH Yt ND QD]S W 3R YêP Q XKOtN ]DSRMWH Qi DGt GR VtW D VSXãW QtP DVLQDPLQXWEH]]DWtåHQtQHFKWHXKOtN\]DE KQRXW 8ORåHQtQiVWURMH %LRORJLFN\ RGERXUDWHOQê HW ]RYê ROHM O]H VNODGRYDW SRX]HSRRPH]HQRXGREX3RXSO\QXWtGYRXOHWRGGDWD YêURE\ ]D tQDMt ELRORJLFN\ RGERXUDWHOQp ROHMH ]WUiFHW DGKH]Qt YODVWQRVWL D ]S VREXMt SRãNR]HQt ROHMRYpKR HUSDGODDVRX iVWtV\VWpPXPD]iQt 3 HGGHOãtPREGREtPNG\SLODQHEXGHSRXåtYiQD Y\SUi]GQ WH ROHMRYRX QiGUå D QDSO WH ML PDOêP PQRåVWYtPPRWRURYpKRROHMH6$( 1DNUiWNRXGREXVSXV WH HW ]RYRXSLOXDE\GRãOR N Y\SOiFKQXWt YãHFK ]E\WN ELRORJLFN\ RGERXUDWHOQpKRROHMH]QiGUåHV\VWpPXPD]iQtD PHFKDQLVPXSLO\ 32=1È0.$ 3 L S HUXãHQt SURYR]X HW ]RYp SLO\ ] Qt P åH QiVOHGQ XU LWRX GREX XQLNDW PHQãt PQRåVWYt HW ]RYpKRROHMH-HGQiVHRQRUPiOQtVWDYDQLNROL R]QiPNXSRUXFK\ HW ]RYRXSLOXXORåWHQDYKRGQpPSRYUFKX 3 HG GDOãtP XYHGHQtP HW ]RYp SLO\ GR SURYR]X ML QDSO WH HUVWYêP HW ]RYêPROHMHP%,2723 9UiPFL]DFKRYiQt%(=3( 1267,D632/(+/,9267, YêURENX PXVt EêW RSUDY\ D YHãNHUi GDOãt ~GUåED L VH L]RYiQtVY HQ\DXWRUL]RYDQêPVHUYLVQtPVW HGLVN P '2/0$5SRXåtYDMtFtPYåG\QiKUDGQtGtO\'2/0$5 32=25 2SRW HEHQp HW ]RYp NROR ]S VREt SRãNR]HQt QRYpKR SLORYpKR HW ]X 9 WDNRYpP S tSDG QHFKHMWH HW ]RYpNRORY\P QLW 3 LYêP Q HW ]RYpKRNRODYåG\SRXåLMWHQRYêSRMLVWQê SUVWHQHF ÒGUåED HW ]XDGRE KRYpEU]G\ %U]GRYp V\VWpP\ S HGVWDYXMt YHOPL G OHåLWê EH]SH QRVWQt SUYHN 6WHMQ MDNR RVWDWQt NRPSRQHQW\ HW ]RYp SLO\ YãDN L RQ\ SRGOpKDMt XU LWpPX RSRW HEHQt 3URWRPXVtEêWSUDYLGHOQ NRQWURORYiQ\YDXWRUL]RYDQpP VHUYLVQtP VW HGLVNX '2/0$5 7RWR RSDW HQt VORXåt N ]DMLãW QtYDãtEH]SH QRVWL 2'675$ 29È1Ë352%/e0 3 HGåiGRVWtRRSUDYXSURYH WHQHMSUYHSURKOtGNXVDPL 1DUD]tWHOL QD SUREOpP MHQå Y WpWR S tUX FH QHQt Y\VY WOHQ QHSRXãW MWH VH GR GHPRQWiåH ]D t]HQt 2EUD WH VH UDG ML QD DXWRUL]RYDQp VHUYLVQt VW HGLVNR 'ROPDU 92/,7(/1e3 Ë6/8â(1679Ë 32=25 3URYiãQiVWURM'ROPDUSRSVDQêYWRPWRQiYRGX GRSRUX XMHPH SRXåtYDW WRWR S tVOXãHQVWYt 3 L SRXåLWt MLQpKR S tVOXãHQVWYt L QiVWDYF P åH KUR]LW QHEH]SH t ]UDQ Qt RVRE 3 tVOXãHQVWYt O]H SRXåtYDWSRX]HSURVWDQRYHQp~ HO\ 3RW HEXMHWHOL EOLåãt LQIRUPDFH RKOHGQ WRKRWR S tVOXãHQVWYt REUD WH VH QD PtVWQt VHUYLVQt VW HGLVNR ILUP\'ROPDU 3LORYê HW ] .U\WYRGLFtOLãW\ 9RGLFtOLãWD 2OHMQDPD]iQtSLORYpKR HW ]X 32=1È0.$ 1 NWHUp SRORåN\ VH]QDPX PRKRX EêW N ]D t]HQt S LEDOHQ\ MDNR VWDQGDUGQt S tVOXãHQVWYt 3 LEDOHQp S tVOXãHQVWYtVHP åHYU ]QêFK]HPtFKOLãLW $GPL Ghostscript 9.55.0