4PXOJD[FL
●86%SR]ZDODQDSRGáąF]DQLHQDJRUąFR1LHPDSRWU]HE\Z\áąF]DQLDNRPSXWHUD
SRGáąF]DQLDXU]ąG]HQLDUHVWDUWXLXUXFKDPLDQLDVHWXSXZFHOX]DLQVWDORZDQLDXU]ąG]HĔ
SHU\IHU\MQ\FK,QLHPDUyZQLHĪNRQLHF]QRĞFLZ\NRQ\ZDQLDRGZURWQHMSURFHGXU\Z
SU]\SDGNXLFKGHLQVWDORZDQLD
.UyWNRPyZLąF86%SU]HNV]WDáFDG]LVLHMV]H3OXJDQG3UD\:áąF]LPyGOVLĊZSUDZG]LZH3OXJ
DQG3OD\:áąF]LXĪ\ZDM
+XE.RQFHQWUDWRU
-HVWWRXU]ąG]HQLHXQLZHUVDOQHMPDJLVWUDOLV]HUHJRZHMGRVWDUF]DMąFHGRGDWNRZH]áąF]DGR86%
.RQFHQWUDWRU\VąNOXF]RZ\PHOHPHQWHPZDUFKLWHNWXU]H86%W\SXSOXJDQGSOD\5\VXQHN
SRND]XMHW\SRZ\NRQFHQWUDWRU.RQFHQWUDWRU\VáXĪąGRXSURV]F]HQLDSU]\áąF]DQLD]SHUVSHNW\Z\
XĪ\WNRZQLNDL]DSHZQLDMąSU]\PDá\FKNRV]WDFKLQLVNLPVWRSQLX]áRĪRQRĞFLSHZQRĞüG]LDáDQLD
.RQFHQWUDWRU\VąZĊ]áDPLRNDEORZDQLDLUHDOL]XMąZLHORSU]\áąF]HQLRZąFKDUDNWHU\VW\NĊ86%
3XQNW\SU]\áąF]DQLDRNUHĞODQHVąMDNRSRUW\.DĪG\NRQFHQWUDWRUSU]HNV]WDáFDSRMHG\QF]\SXQNW
SU]\áąF]HQLRZ\ZSXQNW\ZLHORSU]\áąF]HQLRZH$UFKLWHNWXUDZVSLHUDáąF]HQLHNDVNDGRZHZLHOX
NRQFHQWUDWRUyZ
3RUWZVWĊSXMąF\NRQFHQWUDWRUDáąF]\JR]NRPSXWHUHPKRVWHPJRVSRGDU]HP.DĪG\]
SR]RVWDá\FKSRUWyZ]VWĊSXMąF\FKNRQFHQWUDWRUDXPRĪOLZLDSRGáąF]HQLHGRLQQHJRNRQFHQWUDWRUDOXE
IXQNFML.RQFHQWUDWRU\PRJąZ\NRQ\ZDüF]\QQRĞFLZ\NU\ZDQLDSU]\áąF]DQLDLRGáąF]DQLDQD
NDĪG\PSRUFLH]VWĊSXMąF\PRUD]XPRĪOLZLDMąUR]SURZDG]DQLH]DVLODQLDGRXU]ąG]HĔ]VWĊSXMąF\FK
.DĪG\SRUW]VWĊSXMąF\PRĪHE\üLQG\ZLGXDOQLHZáąF]DQ\LNRQILJXURZDQ\]DUyZQRQDSHáQąMDNLQD
PLQLPDOQąSUĊGNRĞü.RQFHQWUDWRUL]ROXMHSRUW\RQLVNLHMSUĊGNRĞFLRGOLQLLV\JQDáRZ\FKRSHáQHM
SUĊGNRĞFL
.RQFHQWUDWRUVNáDGDVLĊ]GZyFKF]ĊĞFLNRQWUROHUD��NRQFHQWUDWRUDKXEFRQWUROOHULZ]PDFQLDND
NRQFHQWUDWRUDKXEUHSHDWHU:]PDFQLDNMHVWVWHURZDQ\PSURWRNRáHPSU]HáąF]QLNLHPSRPLĊG]\
SRUWHPZVWĊSXMąF\PDSRUWDPL]VWĊSXMąF\PL3RVLDGDRQUyZQLHĪZVSDUFLHVSU]ĊWRZHGR
UHVHWRZDQLDRUD]]DZLHV]DQLDSU]\ZUDFDQLDV\JQDOL]DFML.RQWUROHUSRVLDGDUHMHVWU\LQWHUIHMVX
XPRĪOLZLDMąFHWUDQVPLVMĊGR
LRGNRPSXWHUDJRVSRGDU]DKRVWD2NUHĞORQ\VWDWXVNRQFHQWUDWRUDRUD]NRPHQG\VWHUXMąFH
SR]ZDODMąNRPSXWHURZLJRVSRGDU]RZLNRQILJXURZDüNRQFHQWUDWRURUD]QDG]RURZDüLVWHURZDüMHJR
SRUWDPL
'HYLFH8U]ąG]HQLH
-HGQRVWNDORJLF]QDOXEIL]\F]QDNWyUDZ\NRQXMHRNUHĞORQąIXQNFMĊ5]HF]\ZLVWDRSLV\ZDQD
MHGQRVWND]DOHĪ\RGNRQWHNVWXRGQLHVLHQLD1DQDMQLĪV]\PSR]LRPLHXU]ąG]HQLHPRĪHRGQRVLüVLĊ
GRSRMHG\QF]HJRHOHPHQWXVSU]ĊWRZHJRWDNMDNZSU]\SDGNXXU]ąG]HQLDSDPLĊFL1DZ\ĪV]\P
SR]LRPLHPRĪHVLĊRQRRGQRVLüGR]HVWDZXHOHPHQWyZVSU]ĊWRZ\FKZ\NRQXMąF\FKGDQąIXQNFMĊ
WDNLFKMDNXU]ąG]HQLHLQWHUIHMVXXQLZHUVDOQHMPDJLVWUDOLV]HUHJRZHM1DMHV]F]HZ\ĪV]\PSR]LRPLH
XU]ąG]HQLHPRĪHRGQRVLüVLĊGRIXQNFMLZ\NRQ\ZDQHMSU]H]MHGQRVWNĊSU]\áąF]RQąGRXQLZHUVDOQHM
PDJLVWUDOLV]HUHJRZHMQDSU]\NáDGIDNVPRGHP8U]ąG]HQLDPRJąE\üIL]\F]QHHOHNWU\F]QH
DGUHVRZDOQHLORJLF]QH
GJMF%]%'6QPMJTI1(-044"3:(-044"3:)5.PG".