Manual de instrucciones

GA 75 VSD, GA 90 VSD

Nota de Copyright

Se prohibe cualquier uso no autorizado o la copia de los contenidos o de

cualquier parte de los mismos.

Esto se aplica en particular a marcas comerciales, denominación de

modelos, número de las piezas y diseños.

Fecha de impresión ......... 01/09/2006

Atlas Copco
www.atlascopco.com
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 '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
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 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

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CEEKQPCOKGPVQRQTOQVQTGN¾EVTKEQ.QUEQORTGUQTGUUQPTGHTKIGTCFQURQTCKTG
.QUOQFGNQUTGHTKIGTCFQURQTCIWC)#85&[)#85&UQPEQORTGUQTGUFGVQTPKNNQFGGVCRCÐPKEC
EQPKP[GEEKÉPFGCEGKVG[CEEKQPCOKGPVQRQTOQVQTGN¾EVTKEQ

)#9QTMRNCEG
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GUV±PEQPVTQNCFQURQTGNTGIWNCFQT'NGMVTQPKMQPs++FG#VNCU%QREQ'NOÉFWNQFGEQPVTQNGNGEVTÉPKEQGUV±
KPUVCNCFQGPNCRWGTVCNCVGTCNFGTGEJC&GVT±UFGGUVGRCPGNJC[WPCTOCTKQGN¾EVTKEQEQPHWUKDNGU
VTCPUHQTOCFQTGUTGN¾UGVE5GUWOKPKUVTCPEQPWPUKUVGOCFGFTGPCLGCWVQO±VKEQFGNEQPFGPUCFQ

8KUVCHTQPVCN)#85&[)#85&9QTMRNCEG


/CPWCNFGKPUVTWEEKQPGU

8KUVCVTCUGTC)#85&[)#85&9QTMRNCEG

4GHGTGPEKC &GUKIPCEKÉP
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' 'NGOGPVQEQORTGUQT
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82 6CRÉPFGXGPVKNCEKÉP
 #TOCTKQGN¾EVTKEQ


 /CPWCNFGKPUVTWEEKQPGU

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EQORTGUQTGUGUV±PEQPVTQNCFQURQTGNTGIWNCFQT'NGMVTQPKMQPs++FG#VNCU%QREQ'NOÉFWNQFGEQPVTQN
GNGEVTÉPKEQGUV±KPUVCNCFQGPNCRWGTVCNCVGTCNFGTGEJC&GVT±UFGGUVGRCPGNJC[WPCTOCTKQGN¾EVTKEQEQP
HWUKDNGUVTCPUHQTOCFQTGUTGN¾UGVE5GUWOKPKUVTCPEQPWPUKUVGOCFGFTGPCLGCWVQO±VKEQFGN
EQPFGPUCFQ
#FGO±UGUV±PFQVCFQUFGWPUGECFQTFGCKTGKPVGITCFQGPNCECTTQEGTÃCKPUQPQTK\CPVG'NUGECFQTGNKOKPC
GNEQPFGPUCFQFGNCKTGEQORTKOKFQGPHTK±PFQNQCEGTECFGNRWPVQFGEQPIGNCEKÉP

8KUVCHTQPVCN)#85&[)#85&9QTMRNCEG(WNN(GCVWTG


/CPWCNFGKPUVTWEEKQPGU

8KUVCVTCUGTC)#85&[)#85&9QTMRNCEG(WNN(GCVWTG

4GHGTGPEKC &GUKIPCEKÉP
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82 6CRÉPFGXGPVKNCEKÉP
 %WDÃEWNQGN¾EVTKEQ


 /CPWCNFGKPUVTWEEKQPGU

4GHTKIGTCFQTGUGPEQORTGUQTGUTGHTKIGTCFQURQTCIWC

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4GHGTGPEKC &GUKIPCEKÉP
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/CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

.QUEQORTGUQTGU(WNN(GCVWTGGUV±PRTQXKUVQUFGUGECFQT
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5KUGVTCVCFGWPCWPKFCF(WNN(GCVWTGCNUGECFQT

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15'NCEGKVGUGTGEQIGGPGNHQPFQFGNFGRÉUKVQ
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#4CVTCX¾UFGNHKNVTQFGCEGKVG
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8UJCUVCGNGNGOGPVQEQORTGUQT
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/CPWCNFGKPUVTWEEKQPGU

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 5KUVGOCFGEQPFGPUCFQ

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SWGUG
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 /CPWCNFGKPUVTWEEKQPGU

 5KUVGOCFGTGIWNCEKÉP

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5KGNEQPUWOQFGCKTGGUKPHGTKQTCNSWGUWOKPKUVTCGNEQORTGUQTNCRTGUKÉPFGNCTGFCWOGPVCT±%WCPFQ
NCRTGUKÉPFGNCTGFGUUWRGTKQTCNCFGNRWPVQFGCLWUVG
RTGUKÉPFGUGCFCFGNCTGFGNTGIWNCFQTTGFWEGNC
XGNQEKFCFFGNOQVQT5KNCRTGUKÉPFGNCTGFUKIWGGPCWOGPVQEQPGNOQVQTCNCXGNQEKFCFOÃPKOCGN
TGIWNCFQTFGVKGPGGNOQVQT5KGNOQVQTUGFGVKGPGCWVQO±VKECOGPVG[NCRTGUKÉPFGNCTGFCNECP\CGN
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/CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

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26 5GPUQTFGRTGUKÉPCKTGFGUWOKPKUVTQ
66 5GPUQTFGVGORGTCVWTCCODKGPVG
66 5GPUQTFGVGORGTCVWTCUCNKFCFGNGNGOGPVQ
66 5GPUQTFGVGORGTCVWTCGPVTCFCFGCIWCFGTGHTKIGTCEKÉP
EQORTGUQTGUTGHTKIGTCFQU
RQTCIWC
66 5GPUQTFGVGORGTCVWTCUCNKFCFGCIWCFGTGHTKIGTCEKÉP
EQORTGUQTGUTGHTKIGTCFQU
RQTCIWC
66 5GPUQTFGVGORGTCVWTCGPVTCFCUCNKFCFGCIWCFGTGEWRGTCEKÉPFGGPGTIÃC
66 5GPUQTFGVGORGTCVWTCRWPVQFGTQEÃQ
(WNN(GCVWTG
; 8±NXWNCFGUQNGPQKFGFGECTIC

4GHGTGPEKC %WDÃEWNQFGCTTCPSWG
(( (WUKDNGU
- %QPVCEVQTCWZKNKCTRCTCUGECFQT
(WNN(GCVWTG
- %QPVCEVQTOQVQTFGNXGPVKNCFQT
- %QPVCEVQTRTKPEKRCN
. (KNVTQ
3 &KU[WPVQTOQVQTFGXGPVKNCFQT
55 +PVGTTWRVQTFGUGTXKEKQ


/CPWCNFGKPUVTWEEKQPGU

4GHGTGPEKC %WDÃEWNQFGCTTCPSWG
6 6TCPUHQTOCFQT
7 %QPXGTVKFQTFGHTGEWGPEKC
< '/%HKNVTQ
:: 4GINGVCUFGDQTPGU
:: %QPGEVQTGU

4GHGTGPEKC /ÉFWNQFGEQPVTQN
+ $QVÉPFGCTTCPSWG
- 4GN¾CWZKNKCTOQVQTFGNXGPVKNCFQT
- 4GN¾CWZKNKCT
- 4GN¾CWZKNKCT
- 4GN¾CWZKNKCTECTICFGUECTIC
- 4GN¾CWZKNKCT85&
- 4GN¾CWZKNKCTEQPVTQNFGUGECFQT
- 4GN¾CWZKNKCTHWPEKQPCOKGPVQOCPWCNCWVQO±VKEQ
- 4GN¾CWZKNKCTCXKUQIGPGTCN
- 4GN¾CWZKNKCTRCTCFCFGCNCTOCIGPGTCN
1 $QVÉPFGRCTCFC
5 $QVÉPFGRCTCFCFGGOGTIGPEKC

4GHGTGPEKC 'SWKRQQREKQPCN
#+' 'PVTCFCCPCNÉIKECOÉFWNQFGGZRCPUKÉP
$ &KURQUKVKXQGNGEVTÉPKEQFGFTGPCLGFGCIWC
'9&
(WNN(GCVWTG
2&5 +PVGTTWRVQT&RRCTCHKNVTQ&&KPVGITCFQ
2&5 +PVGTTWRVQT&RRCTCHKNVTQ2&KPVGITCFQ
444 2TQVGEEKÉPEQPVTCEQPIGNCEKÉP
44 %CNGPVCFQTGUEQPXGTVKFQT
4 %CNGPVCFQTCPVKEQPFGPUCEKÉP
5 +PVGTTWRVQTUGRCTCFQTRTKPEKRCNFGGPGTIÃCGN¾EVTKEC
65.. 6GTOQUVCVQRTQVGEEKÉPEQPVTCEQPIGNCEKÉPFGEWDÃEWNQ
65.. 6GTOQUVCVQRTQVGEEKÉPEQPVTCEQPIGNCEKÉPFGEQPXGTVKFQT
66 5GPUQTFGVGORGTCVWTCRTQVGEEKÉPEQPVTCEQPIGNCEKÉPFGEWDÃEWNQ
66 5GPUQTFGVGORGTCVWTCRTQVGEEKÉPEQPVTCEQPIGNCEKÉPFGEQPXGTVKFQT
; 8±NXWNCFGEKGTTGFGCIWC
EQORTGUQTGUTGHTKIGTCFQURQTCIWC


 /CPWCNFGKPUVTWEEKQPGU

 5GECFQTFGCKTG

&KCITCOCFGHNWLQ

5GECFQTFGCKTG

4GHGTGPEKC &GUKIPCEKÉP
#+ 'PVTCFCFGCKTG
#1 5CNKFCFGCKTG
 +PVGTECODKCFQTFGECNQTCKTGCKTG
 +PVGTECODKCFQTFGECNQTGXCRQTCFQTCKTGTGHTKIGTCPVG
 5GRCTCFQTFGEQPFGPUCFQ
 5CNKFCFGEQPFGPUCFQ
 %QORTGUQTFGTGHTKIGTCPVG
 %QPFGPUCFQTFGTGHTKIGTCPVG
 5GECFQTHKNVTQFGTGHTKIGTCPVGNÃSWKFQ
 8±NXWNCFGGZRCPUKÉPVGTOQUV±VKEC
 8±NXWNCFGFGTKXCEKÉPFGICUECNKGPVG
 8GPVKNCFQTFGTGHTKIGTCEKÉPFGEQPFGPUCFQT
 2TGUQUVCVQEQPVTQNFGNXGPVKNCFQT

%KTEWKVQFGCKTGEQORTKOKFQ
'NCKTGEQORTKOKFQGPVTCGPGNKPVGTECODKCFQTFGECNQT
[UGGPHTÃCOGFKCPVGGNCKTGUGECFQ[HTÃQSWG
UCNG'NCIWCFGNCKTGSWGGPVTCGORKG\CCEQPFGPUCTUG.WGIQGNCKTGHNW[GCVTCX¾UFGNKPVGTECODKCFQT
FGECNQTGXCRQTCFQT
FQPFGGNTGHTKIGTCPVGUGGXCRQTCJCEKGPFQSWGGNCKTGEQPVKPÐGGPHTK±PFQUG
JCUVCCEGTECTUGCNCVGORGTCVWTCFGGXCRQTCEKÉPFGNTGHTKIGTCPVG5GEQPFGPUCO±UCIWCGPGNCKTG'N
CKTGHTÃQRCUCGPUGIWKFCCVTCX¾UFGNUGRCTCFQT
FQPFGVQFQGNEQPFGPUCFQUGUGRCTCFGNCKTG'N
EQPFGPUCFQUGRWTICCWVQO±VKECOGPVGCVTCX¾UFGNCUCNKFC

'NCKTGUGECFQ[HTÃQRCUCCVTCX¾UFGNKPVGTECODKCFQTFGECNQT
FQPFGUGECNKGPVCOGFKCPVGGNCKTGSWG
GPVTC


/CPWCNFGKPUVTWEEKQPGU

%KTEWKVQFGTGHTKIGTCPVG
'NEQORTGUQT
FGUECTICICUTGHTKIGTCPVGECNKGPVGCCNVCRTGUKÉPSWGHNW[GCVTCX¾UFGNEQPFGPUCFQT

FQPFGUGEQPFGPUCNCOC[QTRCTVGFGNTGHTKIGTCPVG
'NNÃSWKFQRCUCCVTCX¾UFGNUGECFQTHKNVTQFGTGHTKIGTCPVGNÃSWKFQ
CNVWDQECRKNCT
'NTGHTKIGTCPVGUCNG
FGNVWDQECRKNCTCRTGUKÉPFGGXCRQTCEKÉP
'NTGHTKIGTCPVGGPVTCGPGNGXCRQTCFQT
FQPFGSWKVCECNQTCNCKTGEQORTKOKFQOGFKCPVGWPCPWGXC
GXCRQTCEKÉPCRTGUKÉPEQPUVCPVG'NTGHTKIGTCPVGECNGPVCFQUCNGFGNGXCRQTCFQT[GUCURKTCFQRQTGN
EQORTGUQT

.CX±NXWNCFGFGTKXCEKÉP
TGIWNCGNHNWLQFGTGHTKIGTCPVG'NXGPVKNCFQT
NQEQPGEVCQFGUEQPGEVCGN
KPVGTTWRVQT
UGIÐPGNITCFQFGECTICFGNEKTEWKVQFGTGHTKIGTCPVG


 /CPWCNFGKPUVTWEEKQPGU

 4GIWNCFQT'NGMVTQPKMQP++

 4GIWNCFQT'NGMVTQPKMQPs++

2CPGNFGEQPVTQN

)GPGTCNKFCFGU
'NTGIWNCFQT'NGMVTQPKMQPIQDKGTPCCNEQORTGUQTOGFKCPVGNCUUKIWKGPVGUQRGTCEKQPGU
Ő #FCRVCEKÉPFGNCUCNKFCFGNEQORTGUQTCNEQPUWOQFGCKTG
Ő 2CTCFCFGNEQORTGUQTECFCXG\SWGUGCPGEGUCTKQ
Ő 4GCTTCPSWGFGNEQORTGUQTEWCPFQUGTGSWKGTC
'PIGPGTCNGNTGIWNCFQT'NGMVTQPKMQPGLGEWVCNCUUKIWKGPVGUHWPEKQPGU
Ő %QPVTQNCTGNEQORTGUQT
Ő 2TQVGIGTGNEQORTGUQT
Ő /QPKVQTK\CTNQUEQORQPGPVGUUWLGVQUCUGTXKEKQ
Ő #TTCPSWGCWVQO±VKEQFGURW¾UFGKPVGTTWREKÉPFGNXQNVCLG
JGEJQKPCEVKXQ

%QPVTQNFGNEQORTGUQT
'NTGIWNCFQTCFCRVCGNUWOKPKUVTQFGCKTGFGNEQORTGUQTCNEQPUWOQFGCKTGCLWUVCPFQNCXGNQEKFCFFGN
OQVQT'NTGIWNCFQTVKGPGGPEWGPVCWPPÐOGTQFGCLWUVGURTQITCOCDNGUGPVTGQVTQU
Ő 2WPVQFGCLWUVGFGRTGUKÉPFGNCTGF
Ő &KUETGRCPEKCFGRCTCFCKPFKTGEVC
Ő &KUETGRCPEKCFGRCTCFCFKTGEVC
Ő $CPFCRTQRQTEKQPCN
Ő 6KGORQFGKPVGITCEKÉP
Ő 8GNQEKFCFOÃPKOC
Ő 6KGORQFGRCTCFCOÃPKOQ
Ő .ÃOKVGFGXGNQEKFCFO±ZKOC
Ő 6KGORQFGTGUVCDNGEKOKGPVQFGRQVGPEKC
UKGUV±CEVKXCFQ
'NTGIWNCFQTFGVKGPGGNEQORTGUQTECFCXG\SWGUGCRTGEKUQ


/CPWCNFGKPUVTWEEKQPGU

Ő 2CTCFCKPFKTGEVCGUFGEKTGNEQORTGUQTOCTEJCCXGNQEKFCFOÃPKOC[NCRTGUKÉPFGNCTGFUWDGCNPKXGN
FGRCTCFCKPFKTGEVC
%QPUWNVGNCUGEEKÉP#LWUVGURTQITCOCDNGU
Ő 2CTCFCFKTGEVCGUFGEKTGNEQORTGUQTOCTEJCCWPCXGNQEKFCFGPVTGGNOÃPKOQ[O±ZKOQ[NCRTGUKÉP
FGNCTGFUWDGRQTGPEKOCFGNRWPVQFGCLWUVGFGRCTCFCFKTGEVC
%QPUWNVGNCUGEEKÉP#LWUVGURTQITCOCDNGU

'URQUKDNGRTQITCOCTWPPÐOGTQFGOCPFQUFGCTTCPSWGCWVQO±VKEQRCTCFCSWG
CEVÐCPGPWPVKGORQFCFQ6GPICGPEWGPVCSWGUGGLGEWVCT±WPOCPFQFGCTTCPSWG

UKGUV±RTQITCOCFQ[CEVKXCFQKPENWUQFGURW¾UFGRCTCTGNEQORTGUQT
OCPWCNOGPVG

2TQVGIGTGNEQORTGUQT
2CTCFCFGCNCTOC
5KNCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQTGZEGFGGNPKXGNFGRCTCFCFGCNCTOCRTQITCOCFQUG
RCTCT±GNEQORTGUQT'UVQUGKPFKECGPGNFKURNC[
[RCTRCFGCT±GN.'&FGCNCTOCIGPGTCN
'N
EQORTGUQTUGFGVGPFT±VCODK¾PGPECUQFGUQDTGECTICFGNOQVQTFGNXGPVKNCFQT
5QNWEKQPGGNRTQDNGOC[TGCTOGNCPQVKEKC%QPUWNVGCFGO±UNCUGEEKÉP/GPÐ&CVQUFGGUVCFQ

#PVGUFGKPVGPVCTUQNWEKQPCTPCFCEQPUWNVGNCUUGEEKQPGU2TGECWEKQPGUFGUGIWTKFCF
[5QNWEKÉPFGRTQDNGOCU

#XKUQFGRCTCFCFGCNCTOC
7PPKXGNFGCXKUQFGRCTCFCFGCNCTOCGUWPPKXGNRTQITCOCDNGDCLQGNPKXGNFGRCTCFCFGCNCTOC
5KNCVGORGTCVWTCFGUCNKFCFGNGNGOGPVQEQORTGUQTUWRGTCGNPKXGNFGCXKUQFGRCTCFCRTQITCOCFQ
CRCTGEGT±WPOGPUCLGGPGNFKURNC[
[UGGPEGPFGT±GN.'&FGCNCTOCIGPGTCN
EQPQDLGVQFGCXKUCT
CNQRGTCFQTFGSWGUGGZEGFGGNPKXGNFGCXKUQFGRCTCFC
'NOGPUCLGFGUCRCTGEGGPEWCPVQFGUCRCTGEGNCEQPFKEKÉPFGCXKUQ

#XKUQFGUGTXKEKQ
7PCUGTKGFGCEEKQPGUFGUGTXKEKQUGCITWRCP
GPNQUNNCOCFQU2NCPGUFG5GTXKEKQ#$%GVE%CFC
2NCPFG5GTXKEKQVKGPGWPKPVGTXCNQFGVKGORQRTQITCOCFQ5KUGGZEGFGCNIÐPKPVGTXCNQCRCTGEGT±WPC
PQVKEKCGPGNFKURNC[
EQPQDLGVQFGCXKUCTCNQRGTCFQTFGSWGNNGXGCECDQNCUCEEKQPGUFGUGTXKEKQ
RGTVGPGEKGPVGUCFKEJQRNCP

#XKUQ
6CODK¾PCRCTGEGWPCPQVKEKCFGCXKUQUK
Ő 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCNCVGORGTCVWTCFGUCNKFCFGNCIWCFGTGHTKIGTCEKÉPGZEGFGGN
PKXGNFGCXKUQ
Ő 'PEQORTGUQTGU(WNN(GCVWTGNCVGORGTCVWTCFGNRWPVQFGTQEÃQGZEGFGGNPKXGNFGCXKUQ

4GCTTCPSWGCWVQO±VKEQFGURW¾UFGKPVGTTWREKÉPFGNXQNVCLG
'NTGIWNCFQTKPEQTRQTCWPCHWPEKÉPFGCTTCPSWGCWVQO±VKEQFGNEQORTGUQTCNTGUVCDNGEGTUGGNXQNVCLG
FGURW¾UFGWPCKPVGTTWREKÉPGN¾EVTKEC&KEJCHWPEKÉPGUV±FGUCEVKXCFCGPNQUEQORTGUQTGUSWGUCNGPFG
NCH±DTKEC0QQDUVCPVGGURQUKDNGCEVKXCTNCUKCUÃUGFGUGC%QPUWNVGC#VNCU%QREQ


 /CPWCNFGKPUVTWEEKQPGU

5KGUV±CEVKXCFCNCHWPEKÉP[UKGORTGSWGGNTGIWNCFQTUGGPEWGPVTGGPGNOQFQFG
HWPEKQPCOKGPVQCWVQO±VKEQGNEQORTGUQTXQNXGT±CCTTCPECTCWVQO±VKECOGPVGUKGN
XQNVCLGFGUWOKPKUVTQCNOÉFWNQUGTGUVCDNGEGFGPVTQFGNRGTÃQFQRTQITCOCFQ
'NVKGORQFGTGUVCDNGEKOKGPVQFGRQVGPEKC
GNRGTÃQFQGPGNSWGFGDGTGUVCDNGEGTUGGN
XQNVCLGRCTCRQFGTCTTCPECTCWVQO±VKECOGPVGRWGFGCLWUVCTUGGPVTG[
UGIWPFQUQCN+PHKPKVQ5KGNVKGORQFGTGUVCDNGEKOKGPVQFGRQVGPEKCUGGPEWGPVTC
CLWUVCFQCN+PHKPKVQGNEQORTGUQTXQNXGT±CCTTCPECTUKGORTGFGURW¾UFGWPC
KPVGTTWREKÉPFGNXQNVCLGKPFGRGPFKGPVGOGPVGFGNQSWGUGVCTFGGPTGUVCDNGEGTNQ
6CODK¾PGURQUKDNGRTQITCOCTWPTGVTCUQFGTGCTTCPSWGJCEKGPFQSWGXWGNXCPC
CTTCPECTRQTGLGORNQFQUEQORTGUQTGUFGHQTOCEQPUGEWVKXC

 2CPGNFGEQPVTQN

4GIWNCFQT'NGMVTQPKMQP

2CTVGU[HWPEKQPGU

4GHGTGPEKC &GUKIPCEKÉP (WPEKÉP

 $QVÉPFGCTTCPSWG
UG
 &KURNC[
 6GENCUFGFGURNC\COKGPVQ
 6GENCFGVCDWNCEKÉP
 6GENCUFGHWPEKÉP
 .'&FGXQNVCLGEQPGEVCFQ
$QVÉPRCTCCTTCPECTGNEQORTGUQT'N.'&
GPEKGPFGRCTCKPFKECTSWGGNTGIWNCFQT
'NGMVTQPKMQPGUV±QRGTCVKXQ
/WGUVTCOGPUCLGUUQDTGGNGUVCFQFG
HWPEKQPCOKGPVQFGNEQORTGUQTNCPGEGUKFCFFG
UGTXKEKQQWPHCNNQ
6GENCURCTCFGURNC\CTUGJCEKCCTTKDCQCDCLQRQTGN
FKURNC[
6GENCRCTCUGNGEEKQPCTGNRCT±OGVTQKPFKECFQRQTNC
HNGEJCJQTK\QPVCN5QNCOGPVGRWGFGPOQFKHKECTUG
NQURCT±OGVTQUUGIWKFQUFGWPCHNGEJCSWGUGÇCNG
CNCFGTGEJC
6GENCURCTCIQDGTPCT[RTQITCOCTGNEQORTGUQT
+PFKECSWGGUV±EQPGEVCFQGNXQNVCLG


/CPWCNFGKPUVTWEEKQPGU

4GHGTGPEKC &GUKIPCEKÉP (WPEKÉP

 .'&FGCNCTOCIGPGTCN 'UV±GPEGPFKFQUKGZKUVGWPGUVCFQFGCXKUQCXKUQ
FGUGTXKEKQQCXKUQFGRCTCFCFGCNCTOC
 .'&FGCNCTOCIGPGTCN 2CTRCFGCUKGZKUVGWPCEQPFKEKÉPFGRCTCFCFG
CNCTOCUKUGJCTQVQWPUGPUQTKORQTVCPVGQ
FGURW¾UFGWPCRCTCFCFGGOGTIGPEKC
 .'&FGHWPEKQPCOKGPVQCWVQO±VKEQ +PFKECSWGGNTGIWNCFQTGUV±EQPVTQNCPFQGN
EQORTGUQTCWVQO±VKECOGPVG
 $QVÉPFGRCTCFC $QVÉPRCTCRCTCTGNEQORTGUQT5GCRCICGN.'&


5ÉNQGP)#85&[)#85&DQVÉPFG
RCTCFCFGNEQORTGUQT5GCRCICGN.'&
'N
EQORTGUQTTGFWEKT±NCXGNQEKFCFCNOÃPKOQ[
RCTCT±CNECDQFGWPQURQEQUUGIWPFQU
5 $QVÉPFGRCTCFCFGGOGTIGPEKC 2WNUCFQTRCTCRCTCTGNEQORTGUQTCNKPUVCPVGGP
ECUQFGGOGTIGPEKC&GURW¾UFGUQNWEKQPCTNC
CXGTÃCNKDGTGGNDQVÉPVKTCPFQFG¾N

 6GENCUFGHWPEKÉP

2CPGNFGEQPVTQN

6GENCUFGHWPEKÉP
.CUVGENCU
UGWUCPRCTC
Ő +PXQECTQRTQITCOCTCLWUVGU
Ő 4GCTOCTWPCPQVKEKCFGUQDTGECTICFGNOQVQTRCTCFCFGCNCTOCQUGTXKEKQQWPCRCTCFCFG
GOGTIGPEKC
Ő #EEGFGTCVQFQUNQUFCVQUTGEQIKFQURQTGNTGIWNCFQT
.CUHWPEKQPGUFGNCUVGENCUXCTÃCPUGIÐPGNOGPÐSWGUGOWGUVTC.CHWPEKÉPTGCNUGKPFKECLWUVQGPEKOC
FGNCVGENCEQTTGURQPFKGPVG#EQPVKPWCEKÉPUGEKVCPNCUHWPEKQPGUO±UEQOWPGU

&GUKIPCEKÉP (WPEKÉP
#ÇCF #ÇCFGEQOCPFQUFGCTTCPSWGRCTCFCFGNEQORTGUQT
FÃCJQTC
#VT± 8WGNXGCWPCQREKÉPQWPOGPÐSWGUGJCOQUVTCFQCPVGU
%CPE %CPEGNCWPCLWUVGRTQITCOCFQCNRTQITCOCTRCT±OGVTQU
ň$QTTʼn $QTTCEQOCPFQUFGCTTCPSWGRCTCFCFGNEQORTGUQT
#[WF 8CCNCFKTGEEKÉPFG#VNCU%QREQGP+PVGTPGV


 /CPWCNFGKPUVTWEEKQPGU

&GUKIPCEKÉP (WPEKÉP
ň.ÃOʼn /WGUVTCNQUNÃOKVGURCTCWPCLWUVGRTQITCOCDNG
2TKP 8QNXGTFGUFGWPOGPÐCNCRCPVCNNCRTKPEKRCN
/GPÐ 'ORG\CPFQFGUFGNCRCPVCNNCRTKPEKRCNQDVKGPGCEEGUQCNQUUWDOGPÐU
/GPÐ 'ORG\CPFQFGUFGWPUWDOGPÐXWGNXGCWPOGPÐCPVGTKQT
ň/QFʼn /QFKHKECCLWUVGURTQITCOCDNGU
2TQI 2TQITCOCCLWUVGUOQFKHKECFQU
4GCT 4GCTOCWPVGORQTK\CFQTQWPOGPUCLG
8NXT 8WGNXGCWPCQREKÉPQWPOGPÐSWGUGJCOQUVTCFQCPVGU
'ZVT 'PEQPVTCTNCEQPHKIWTCEKÉPFGNOÉFWNQFGNTGIWNCFQT

 6GENCUFGFGURNC\COKGPVQ

2CPGNFGEQPVTQN

.CUVGENCU
RGTOKVGPSWGGNWUWCTKQUGFGURNCEGRQTGNFKURNC[
/KGPVTCUUGOWGUVTGGPNCRQUKEKÉPFGTGEJCFGNFKURNC[WPCHNGEJCSWGUGÇCNGJCEKCCDCLQRWGFGWUCTUG
NCVGENCFGFGURNC\COKGPVQEQPGNOKUOQUÃODQNQRCTCFGURNC\CTUGCNEQORQPGPVGUKIWKGPVG
/KGPVTCUUGOWGUVTGGPNCRQUKEKÉPFGTGEJCFGNFKURNC[WPCHNGEJCSWGUGÇCNGJCEKCCTTKDCRWGFGWUCTUG
NCVGENCFGFGURNC\COKGPVQEQPGNOKUOQUÃODQNQRCTCFGURNC\CTUGCNEQORQPGPVGCPVGTKQT

 $QVÉPFGRCTCFCFGGOGTIGPEKC

2CPGNFGEQPVTQN

2CTCRCTCTGNEQORTGUQTKPOGFKCVCOGPVGGPECUQFGGOGTIGPEKCRWNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC

5


/CPWCNFGKPUVTWEEKQPGU

#XKUQ

#PVGUFGNNGXCTCECDQEWCNSWKGTQRGTCEKÉPFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVG
RTQEGFCFGNCUKIWKGPVGOCPGTC
Ő 'URGTGJCUVCSWGUGJC[CFGVGPKFQGNEQORTGUQT
Ő %KGTTGNCX±NXWNCFGUCNKFCFGCKTG&GUDNQSWGGGNDQVÉPVKTCPFQFG¾N2WNUGGN
DQVÉPFGRTWGDCSWGUGGPEWGPVTCUQDTGNQUFKURQUKVKXQUGNGEVTÉPKEQUFGFTGPCLG
FGCIWCJCUVCSWGGNUKUVGOCFGCKTGSWGUGGPEWGPVTCGPVTGGNTGEGRVQTFGCKTG[
NCX±NXWNCFGUCNKFCGUV¾EQORNGVCOGPVGFGURTGUWTK\CFQ
Ő #DTCGNKPVGTTWRVQTUGRCTCFQT
KPUVCNCEKÉPFGNENKGPVGRCTCFGUEQPGEVCTGNXQNVCLG
FGNEQORTGUQT
Ő &GURTGUWTKEGGNUKUVGOCFGCKTG
2CTCQDVGPGTKPUVTWEEKQPGUFGVCNNCFCUEQPUWNVG5QNWEKÉPFGRTQDNGOCU
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU

 2TQITCOCUFGEQPVTQN

&GUETKREKÉP
#HKPFGHCEKNKVCTNCRTQITCOCEKÉP[GNEQPVTQNUGJCPKORNGOGPVCFQRTQITCOCUFGEQPVTQNOCPFCFQURQT
OGPÐUGPGNTGIWNCFQT


 /CPWCNFGKPUVTWEEKQPGU

(NWLQFGOGPÐU
UKORNKHKECFQ


/CPWCNFGKPUVTWEEKQPGU

 /GPÐ2CPVCNNCRTKPEKRCN

(WPEKÉP

2CPGNFGEQPVTQN

'NOGPÐFGNCRCPVCNNCRTKPEKRCNOWGUVTCGNGUVCFQFGHWPEKQPCOKGPVQFGNEQORTGUQT[HQTOCNCRWGTVCFG
GPVTCFCCVQFCUNCUHWPEKQPGUKORNGOGPVCFCUGPGNTGIWNCFQT

2TQEGFKOKGPVQ
.CRCPVCNNCRTKPEKRCNCRCTGEGCWVQO±VKECOGPVGCNEQPGEVCTNCEQTTKGPVG
5KPQUGWUCPPKNCUVGENCUFGHWPEKÉPPKNCUVGENCUEQPHNGEJC
[FWTCPVGCNIWPQUOKPWVQUGN
TGIWNCFQTXQNXGT±CWVQO±VKECOGPVGCNC2CPVCNNCRTKPEKRCN
5KGORTGSWGCRCTG\ECGPNCRCPVCNNCFGWPUWDOGPÐRWNUGNCVGENC 2TKP 
(RCTCXQNXGTCNC2CPVCNNC
RTKPEKRCN
'LGORNQFG2CPVCNNCRTKPEKRCN

5CNKFC%QORTGU
DCT 
TRO 
/GPÐ
( ( (

'NFKURNC[KPFKEC
Ő .CFGUKIPCEKÉPFGNUGPUQT[NCKPFKECEKÉPCEVWCN
Ő 0QVKEKCUFGNGUVCFQFGHWPEKQPCOKGPVQFGNEQORTGUQT
Ő ,WUVQGPEKOCFGNCUVGENCUFGHWPEKÉP
NCHWPEKÉPCEVWCNFGFKEJCUVGENCU


 /CPWCNFGKPUVTWEEKQPGU

 +PXQECEKÉPFGOGPÐU

&GUETKREKÉP

2CPGNFGEQPVTQN

.CRCPVCNNCRTKPEKRCNCRCTGEGCWVQO±VKECOGPVGCNEQPGEVCTUGGNXQNVCLG

5CNKFC%QORTGU
DCT 
TRO 
/GPÐ
( ( (

.CVGENCEQPHNGEJCCDCLQ
UGRWGFGWVKNK\CTRCTCWPCEQPUWNVCT±RKFCFGNCUKVWCEKÉPCEVWCNFGN
EQORTGUQT
&GURW¾UFGRWNUCTNCVGENC /GPÐ 
(NCQREKÉP &CVQUFGGUVCFQ CRCTGEGT±UGIWKFCFGWPCHNGEJC
JQTK\QPVCN
Ő 2WNUGNCVGENCFGVCDWNCEKÉP
RCTCUGNGEEKQPCTGUVGOGPÐ
Ő 1DKGPWVKNKEGNCVGENCEQPHNGEJCCDCLQ
JCUVCSWGGNUWDOGPÐFGUGCFQXC[CUGIWKFQFGWPCHNGEJC
JQTK\QPVCN[CEQPVKPWCEKÉPRWNUGNCVGENCFGVCDWNCEKÉP
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/CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

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 /CPWCNFGKPUVTWEEKQPGU

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%QPUWNVGNCUGEEKÉP5KUVGOCFGEQPFGPUCFQRCTCEQPQEGTNCWDKECEKÉPFGNQURWPVQUFGFTGPCLG[FG
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 #HNQLGGNVWDQFGFTGPCLGFGEQPFGPUCFQFGNEQNGEVQTFGNEQORTGUQTFGUFGUWCEQRNCOKGPVQ
&C
#EQPVKPWCEKÉPCHNQLGGNVWDQFGFTGPCLGFGEQPFGPUCFQFGNEQNGEVQTFGEQPFGPUCFQFGNUGECFQT
FGUFGUWCEQRNCOKGPVQ
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 %QNQSWGGNMKVUGRCTCFQTEQOQUGOWGUVTC[HÃLGNQEQPRGTPQU

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 %QPGEVGGNVWDQFGFTGPCLGUWGNVQFGUFGGNRWPVQFGFTGPCLGFGEQPFGPUCFQ
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 'ZVTCKICGNCEQRNCFQT
&CGKPUVCNGNQUCEQRNCOKGPVQUUWOKPKUVTCFQUEQPGNMKVUGRCTCFQT
%QPGEVGGNVWDQFGCIWC
CNNCFQRQUVGTKQTFGNCEQRNCOKGPVQ
&E&KTKLCGNVWDQHNGZKDNGFGUCNKFC
FGEQPFGPUCFQFGUFGGNCEQRNCOKGPVQ
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2CTCNQUEQORTGUQTGU9QTMRNCEG(WNN(GCVWTGTGRKVCGUVCCEEKÉPOGFKCPVGNCGZVTCEEKÉPFGN
CEQRNCFQT
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 'ZVTCKICNCVCRC
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8WGNXCCKPUVCNCTNCVCRC


/CPWCNFGKPUVTWEEKQPGU

 +PUVTWEEKQPGUFGHWPEKQPCOKGPVQ[OCPVGPKOKGPVQ

2TGECWEKQPGUFGUGIWTKFCF

#PVGUFGNNGXCTCECDQEWCNSWKGTQRGTCEKÉPFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVG
RTQEGFCFGNCUKIWKGPVGOCPGTC
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UQDTGGNFKURQUKVKXQGNGEVTÉPKEQFGFTGPCLGFGCIWCJCUVCSWGGNUKUVGOCFGCKTG
SWGUGGPEWGPVTCGPVTGGNTGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾
EQORNGVCOGPVGFGURTGUWTK\CFQ
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Ő &GUEQPGEVGGNXQNVCLG
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'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU

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+PVGTKQTFG15&

Ő #PVGUFGCTTCPECTEQORTWGDGSWGGNTGEKRKGPVG
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8WGNXCCKPUVCNCTNCVCRC
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TGEKRKGPVG
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 /CPWCNFGKPUVTWEEKQPGU

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 2KEVQITCOCU

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 #EGKVG
 5CNKFCFGCEGKVG
 5CNKFCFGEQPFGPUCFQ
 2TGUKÉP


/CPWCNFGKPUVTWEEKQPGU

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 'PVTCFC
 2WPVQFGUGTXKEKQ
 2TGUKÉPFGGPVTCFCFGNUGRCTCFQT
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 %QPUWNVGGNHQNNGVQFGKPUVTWEEKQPGUCPVGUFGTGCNK\CTTGRCTCEKQPGUQOCPVGPKOKGPVQ


 /CPWCNFGKPUVTWEEKQPGU

 +PUVCNCEKÉP

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/CPWCNFGKPUVTWEEKQPGU

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 2CUQFGECDNGGN¾EVTKEQ
 5CNKFCFGCIWCFGTGHTKIGTCEKÉP
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 5CNKFCFGCKTGFGTGHTKIGTCEKÉPFGNEQORTGUQT
 5CNKFCFGCKTGFGTGHTKIGTCEKÉPFGNUGECFQT
 5CNKFCFGCKTGEQORTKOKFQ
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 5CNKFCFGTGEWRGTCEKÉPFGGPGTIÃC
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 &TGPCLGCWVQO±VKEQUGECFQT
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 5CNKFCFGFTGPCLGCWVQO±VKEQTGHTKIGTCFQTRQUVGTKQT
 &TGPCLGWPKFCF15&
QREKQPCN


 /CPWCNFGKPUVTWEEKQPGU

 2TQRWGUVCFGKPUVCNCEKÉP

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/CPWCNFGKPUVTWEEKQPGU

6GZVQGPFKDWLQ

 'URCEKQNKDTGOÃPKOQSWGFGDGTGUGTXCTRCTCNCKPUVCNCEKÉPFGNEQORTGUQT

 2TQRWGUVCUFGXGPVKNCEKÉP
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 5KUVGOCUFGTGHTKIGTCEKÉP
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&GUETKREKÉP

 +PUVCNGGNEQORTGUQTUQDTGWPUWGNQPKXGNCFQ[UÉNKFQSWGRWGFCUQRQTVCTUWRGUQ
 2QUKEKÉPFGNCX±NXWNCFGUCNKFCFGCKTGEQORTKOKFQ
 'NNCTIQO±ZKOQFGNCUVWDGTÃCUVQVCNGU
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C
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 8GPVKNCEKÉPNCURCTTKNNCUFGCURKTCEKÉP[GNXGPVKNCFQTFGDGPKPUVCNCTUGFGHQTOCSWG
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HVU
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VGORGTCVWTCGPNCUCNCFGEQORTGUQTGURWGFGECNEWNCTUGFGNCOCPGTCUKIWKGPVG
Ő 3X0F6RCTCEQORTGUQTGU)#85&9QTMRNCEG
Ő 3X
0 F6RCTCEQORTGUQTGU)#85&9QTMRNCEG(WNN(GCVWTG
'NCKTGFGTGHTKIGTCEKÉPFGNUGECFQTRWGFGEQPFWEKTUGCNGZVGTKQT
3XECRCEKFCFFGXGPVKNCEKÉPTGSWGTKFCGPOU
0GPVTCFCCNGLGFGNEQORTGUQTGPM9
F6CWOGPVQFGVGORGTCVWTCGPUCNCFGNEQORTGUQT
2CTCNCUCNVGTPCVKXCU[NCECRCEKFCFFGNXGPVKNCFQTFGDGKIWCNCTNCECRCEKFCFFGN
XGPVKNCFQTFGNEQORTGUQTCWPCECTICFGRTGUKÉPKIWCNCNCECÃFCFGRTGUKÉPUQDTGNQU
EQPFWEVQUFGCKTG
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NCECRCEKFCFFGXGPVKNCEKÉPPGEGUCTKCRCTCNKOKVCTNCVGORGTCVWTCGPNCUCNCFG
EQORTGUQTGURWGFGECNEWNCTUGFGNCOCPGTCUKIWKGPVG
Ő 3X0F6RCTCEQORTGUQTGU)#85&9QTMRNCEG
Ő 3X
0 F6RCTCEQORTGUQTGU)#85&9QTMRNCEG(WNN(GCVWTG
 .QUVWDQUFGFTGPCLGCNEQNGEVQTPQFGDGPGPVTCTGPEQPVCEVQEQPGNCIWCFGN
EQNGEVQT#VNCU%QREQFKURQPGFGUGRCTCFQTGUFGCEGKVGCIWC
VKRQ15&RCTC
UGRCTCTNCOC[QTRCTVGFGNCEGKVGFGNEQPFGPUCFQCHKPFGCUGIWTCTSWGGN
EQPFGPUCFQEWORNGNQUTGSWKUKVQUFGNCNGIKUNCEKÉPOGFKQCODKGPVCN
 /ÉFWNQFGEQPVTQNEQPRCPGNFGOQPKVQTK\CEKÉP
 7PGNGEVTKEKUVCFGDGCLWUVCTGKPUVCNCTGNECDNGFGUWOKPKUVTQFGGPGTIÃC
'PECUQFGSWGFGUGGKPUVCNCTWPCTGF+6EQPUWNVGC#VNCU%QREQ
 'SWKRCOKGPVQRCTCUKUVGOCFGTGEWRGTCEKÉPFGGPGTIÃC


 /CPWCNFGKPUVTWEEKQPGU

 (KNVTQVKRQ&&EQPHKPGUIGPGTCNGU'NHKNVTQGNKOKPCRCTVÃEWNCUUÉNKFCUJCUVC
OKETÉOGVTQ[EQPVGPKFQUFGCEGKVGTGUKFWCNO±ZKOQUFGOIO'URQUKDNG
KPUVCNCTWPHKNVTQFGCNVCGHKEKGPEKCVKRQ2&EQPRQUVGTKQTKFCFCWPHKNVTQ&&'UVG
HKNVTQGNKOKPCRCTVÃEWNCUUÉNKFCUJCUVCOKETCUEQPWPCTTCUVTGFGCEGKVGO±ZKOQ
FGOIO2CTCGXKVCTQNQTGU[XCRQTGUFGCEGKVGJC[SWGKPUVCNCTWPHKNVTQVKRQ
3&EQPRQUVGTKQTKFCFCNHKNVTQ2&
5GTGEQOKGPFCKPUVCNCTVWDQUFGFGTKXCEKÉPEQPX±NXWNCUFGDQNCUQDTGECFCHKNVTQ
EQPQDLGVQFGCKUNCTNQUHKNVTQUFWTCPVGNQUVTCDCLQUFGUGTXKEKQUKPGPVQTRGEGTGN
UWOKPKUVTQFGCKTGEQORTKOKFQ
 8±NXWNCFGUGIWTKFCF
 5KUVGOCFGFGTKXCEKÉPRCTCFGLCTHWGTCFGNEKTEWKVQGNUGECFQTFWTCPVGNQUVTCDCLQUFG
UGTXKEKQ
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 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWC
'NHNWLQFGCIWC[NCRTGUKÉPFGDGPCLWUVCTUGGPHWPEKÉPFGNCUEQPFKEKQPGUNQECNGU
2CTCEQPQEGTNCECNKFCFFGNCIWCFGTGHTKIGTCEKÉPEQPUWNVGNCUGEEKÉP4GSWKUKVQUFGN
CIWCFGTGHTKIGTCEKÉP
'NENKGPVGRWGFGKPUVCNCTWPCX±NXWNCFGEKGTTG[QVTCFGFTGPCLGGPNQUVWDQUFG
GPVTCFC[UCNKFCFGCIWCFGNEQORTGUQT5KUGKPUVCNCPX±NXWNCUFGEKGTTGGPNQUVWDQU
FGGPVTCFC[UCNKFCFGCIWCFGNEQORTGUQTFGDGKPUVCNCTUGWPFKURQUKVKXQFG
UGIWTKFCFEQPWPCRTGUKÉPFGCLWUVGCFGEWCFCCNCRTGUKÉPO±ZKOCFGGPVTCFCFGN
CIWCFGTGHTKIGTCEKÉP
EQPUWNVGNCUGEEKÉP%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGUGPVTG
GNVWDQFGUCNKFCFGCIWCFGNEQORTGUQT[NCX±NXWNCFGEKGTTG#NCEEKQPCTNCWPKFCF
GNQRGTCFQTFGDGCUGIWTCTUGFGSWGGNUKUVGOCFGCIWCFGTGHTKIGTCEKÉPPQRWGFG
DNQSWGCTUG.QFGUETKVQCPVGTKQTOGPVGUGCRNKECVCODK¾PCNUKUVGOCFGCIWCFG
TGHTKIGTCEKÉPRCTCTGEWRGTCEKÉPFGGPGTIÃC'ZVTCKICNQUVCRQPGUFGRN±UVKEQ
UKGUV±P
KPUVCNCFQUFGNQUVWDQUFGCIWCFGNEQORTGUQT[EQPGEVGNQUVWDQUCNEKTEWKVQFG
CIWCFGTGHTKIGTCEKÉP
 2CTTKNNCFGNCKTGFGTGHTKIGTCEKÉPUGECFQT

#VGPEKÉP

'NVTCDCLQEQPOCSWKPCTKCEQPVTQNCFCRQTWPEQPXGTVKFQTFGHTGEWGPEKCTGSWKGTG
RTGECWEKQPGUFGUGIWTKFCFGURGEKCNGU'UVCURTGECWEKQPGUFGUGIWTKFCFFGRGPFGP
FGNVKRQFGTGFWUCFC
UKUVGOC6066Q+6%QPUWNVGC#VNCU%QREQ


/CPWCNFGKPUVTWEEKQPGU

 %QPGZKQPGUGN¾EVTKECU

%QPGZKQPGUGN¾EVTKECURCTC)#85&[)#85&


 /CPWCNFGKPUVTWEEKQPGU

4GHGTGPEKC &GUKIPCEKÉP

 +PUVCNCEKÉPFGNENKGPVG

 1REKÉPUGECFQT

 2CTCEQOWPKECEKÉPEQP/QFDWU

 %QPGZKÉPGPGUVTGNNCVQFQUNQUFGO±UXQNVCLGU

 %QPGZKÉPGPGUVTGNNCFGXGTUKÉP+6VQFQUNQUQVTQUXQNVCLGU

&GUETKREKÉP
 +PUVCNGWPKPVGTTWRVQTUGRCTCFQT
 %QORTWGDGSWGGUV±PDKGPUWLGVQUCUWUDQTPGUNQUECDNGUGJKNQUFGNOQVQTGPGNCTOCTKQGN¾EVTKEQ
 %QORTWGDGNQUHWUKDNGU%QPUWNVGNCUGEEKÉP#LWUVGUFGNQUHWUKDNGU
 %QPGEVGNQUECDNGUFGUWOKPKUVTQFGGPGTIÃCGN¾EVTKECCNQUDQTPGU
[FGNEQPVCEVQT
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 %QPGEVGGNEQPFWEVQTFGRWGUVCCVKGTTCCNRGTPQFGVKGTTC
2'

 4GSWKUKVQUFGNCIWCFGTGHTKIGTCEKÉP

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/±ZKOQUTGEQOGPFCFQU 5KUVGOCFGTGEKTEWNCEKÉP 5KUVGOCFGRCUQEQPVKPWQ


%NQTWTQ
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5WNHCVQ
51  KPHGTKQTCOIN KPHGTKQTCOIN
6QVCNFGUWUVCPEKCUUÉNKFCU KPHGTKQTCOIN KPHGTKQTCOIN
5WUVCPEKCUUÉNKFCUUWURGPFKFCU KPHGTKQTCOIN KPHGTKQTCOIN

5K1
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5KPCNICU
5KPCEGKVG


/CPWCNFGKPUVTWEEKQPGU

1DUGTXCEKÉP
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RWGFGGZEGFGTFG2CTCWPUKUVGOCFGTGEKTEWNCEKÉPEQPGNVTCVCOKGPVQ[NQUEQPVTQNGUFGDKFQUUG
RGTOKVGWPCUWOCFGNQUEWCFTCFQUFGJCUVC1DU¾TXGUGSWGGNXCNQTFGUWNHCVQFGDGKPENWKTGN
UWNHKVQGXGPVWCNOGPVGRTGUGPVG

#FKVKXQU
5KHWGTCPGEGUCTKQWVKNK\CTCFKVKXQUGPGNCIWCFGTGHTKIGTCEKÉPVGPICGPEWGPVCSWGNCECRCEKFCFFG
TGHTKIGTCEKÉPUGXGTÃCOQFKHKECFC

 2KEVQITCOCU

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 &GUEQPGEVGGNXQNVCLG[FGURTGUWTKEGGNEQORTGUQTCPVGUFGTGCNK\CTVCTGCUFG
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 /CPVGPICEGTTCFCUNCURWGTVCUFWTCPVGGNHWPEKQPCOKGPVQ
 &GUEQPGEVGGNXQNVCLGCPVGUFGSWKVCTNCEWDKGTVCRTQVGEVQTCFGPVTQFGNEWDÃEWNQ
GN¾EVTKEQ
 #XKUQXQNVCLG
 2WPVQFGFTGPCLGCWVQO±VKEQFGEQPFGPUCFQ
 &GVGPICGNEQORTGUQTCPVGUFGNKORKCTNQUTGHTKIGTCFQTGU
 #EGKVGNKIGTCOGPVGNCLWPVCFGNHKNVTQFGCEGKVGCVQTPKNNG[CRTKGVGEQPNCOCPQ
OGFKC
XWGNVCCRTQZKOCFCOGPVG


 /CPWCNFGKPUVTWEEKQPGU

4GHGTGPEKC &GUKIPCEKÉP
 %QPUWNVGGN.KDTQFGKPUVTWEEKQPGURCTCEQPQEGTGNUGPVKFQFGIKTQFGNOQVQTCPVGUFG
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 'NEQORTGUQTUKIWGRTGUWTK\CFQFWTCPVGUGIWPFQUFGURW¾UFGFGUEQPGEVCTGN
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 2CTGUFGCRTKGVGRCTCRGTPQUFGCEGTQ
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 &GUEQPGEVGGNXQNVCLG[GURGTGOKPWVQUEQOQOÃPKOQCPVGUFGSWKVCTNCTGLKNNC
 5CNKFCFGCEGKVG
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2KEVQITCOCUFGEQORTGUQTGUTGHTKIGTCFQURQTCIWC

4GHGTGPEKC &GUKIPCEKÉP
 'PVTCFCFGCIWCFGTGHTKIGTCEKÉP
 5CNKFCFGCIWCFGTGHTKIGTCEKÉP


/CPWCNFGKPUVTWEEKQPGU

 +PUVTWEEKQPGUFGHWPEKQPCOKGPVQ

 #PVGUFGNCTTCPSWGKPKEKCN

5GIWTKFCF

'NQRGTCFQTFGDGQDUGTXCTVQFCUNCURTGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGUKPENWKFCU
NCUSWGUGKPFKECPGPGNRTGUGPVGOCPWCN

(WPEKQPCOKGPVQGPCNVKVWFGZVGTKQTGU
5KGNEQORTGUQTUGGPEWGPVTCKPUVCNCFQGPGZVGTKQTGUQUKGURQUKDNGSWGNCVGORGTCVWTCFGCURKTCEKÉPFGN
CKTGFGUEKGPFCRQTFGDCLQFG%(JC[SWGVQOCTRTGECWEKQPGU%QPUWNVGC#VNCU%QREQGPVCN
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HV

&GURNC\COKGPVQNGXCPVCOKGPVQ
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2TQEWTGPQFCÇCTNCECTTQEGTÃCFWTCPVGGNNGXCPVCOKGPVQQVTCPURQTVG#PVGUFGNGXCPVCTGNEQORTGUQT
XWGNXCCKPUVCNCTNQURGTPQUFGVTCPURQTVG
%QPUWNVGNCUGEEKÉP#TTCPSWGKPKEKCN
#UGIÐTGUGFGSWGNCUJQTSWKNNCUUQDTGUCNGPFGUFGGNQVTQNCFQFGNDCUVKFQT6CODK¾PGURQUKDNGNGXCPVCT
GNEQORTGUQTFGURW¾UFGKPVTQFWEKTXKICUGPNCUTCPWTCU#UGIÐTGUGFGSWGNCUXKICUPQUGFGUNK\CP[SWG
UQDTGUCNGPFGUFGGNDCUVKFQTFGOCPGTCWPKHQTOG.CUECFGPCUFGDGPOCPVGPGTUGRCTCNGNCUCNC
ECTTQEGTÃCEQPC[WFCFGUGRCTCFQTGUFGECFGPCRCTCPQFCÇCTCNEQORTGUQT'NGSWKRQFGGNGXCEKÉPFGDG
GUVCTEQNQECFQFGHQTOCSWGGNEQORTGUQTUGNGXCPVGRGTRGPFKEWNCTOGPVG.GX±PVGNQEQPUWCXKFCF
RTQEWTCPFQSWGPQUGVWGT\C

 #TTCPSWGKPKEKCN

5GIWTKFCF

'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU%QPUWNVG
VCODK¾PNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU

2TQEGFKOKGPVQ

2CTCEQPQEGTNCRQUKEKÉPFGNCX±NXWNCFGUCNKFCFGCKTG[NCUEQPGZKQPGUFGFTGPCLG
EQPUWNVGNCUUGEEKQPGU+PVTQFWEEKÉP[5KUVGOCFGEQPFGPUCFQ


 /CPWCNFGKPUVTWEEKQPGU

(KLCEKQPGUFGVTCPURQTVGFGNTGEGRVQTFGCKTGFG)#85&[)#85&

(KLCEKQPGUFGVTCPURQTVGFGNOQVQT[FGNCECLCFGGPITCPCLGUFG)#85&[)#85&


/CPWCNFGKPUVTWEEKQPGU

#TOCTKQGN¾EVTKEQFG)#85&[)#85&GLGORNQVÃRKEQ

 %QPUWNVGNCUUGEEKQPGU6COCÇQFGECDNGUGN¾EVTKEQU2TQRWGUVCUFGKPUVCNCEKÉP[&KDWLQUFG
FKOGPUKQPGU
 *C[SWGSWKVCTNQUHKLCFQTGUFGVTCPURQTVGRKPVCFQUFGTQLQUKIWKGPVGU
Ő 2GTPQU

Ő %CUSWKNNQU

Ő 5QRQTVGU

 %QORTWGDGSWGGUV±PJGEJCUNCUEQPGZKQPGUGN¾EVTKECUEQPHQTOGCNQUEÉFKIQUNQECNGU[SWG
VQFQUNQUECDNGUGUV±PDKGPUWLGVQUCUWUDQTPGU
'NGSWKRQFGDGRQPGTUGCVKGTTC[RTQVGIGTUGFGEQTVQEKTEWKVQURQTOGFKQFGHWUKDNGUFGVKRQ
KPGTVGGPVQFCUNCUHCUGU&GDGKPUVCNCTUGWPKPVGTTWRVQTUGRCTCFQTEGTECFGNEQORTGUQT
 %QORTWGDGNQUJKNQUUGNGEVQTGUFGXQNVCLGRQTGNNCFQRTKOCTKQFGNVTCPUHQTOCFQT6
 %QORTWGDGGNCLWUVGFGNFKU[WPVQT
3%QORTWGDGVCODK¾PSWGGNKPVGTTWRVQTGPGNFKU[WPVQT
UGJCNNCGPNCRQUKEKÉP+
 +PUVCNGNCX±NXWNCFGUCNKFCFGCKTG
#8EQPUWNVGNCUGEEKÉP+PVTQFWEEKÉPRCTCEQPQEGTNC
RQUKEKÉPFGNCX±NXWNC
%KGTTGNCX±NXWNC
%QPGEVGNCTGFFGCKTGCNCX±NXWNC
'PEQORTGUQTGUGSWKRCFQUEQPWPCFGTKXCEKÉPFGUGECFQTKPUVCNGNCX±NXWNCFGUCNKFCFGCKTGGP
GNVWDQFGFGTKXCEKÉPFGNUGECFQT


 /CPWCNFGKPUVTWEEKQPGU

 %QPGEVGNCUUCNKFCUFGFTGPCLGFGNEQPFGPUCFQCWPEQNGEVQTFGFTGPCLG%QPUWNVGNCUGEEKÉP
5KUVGOCFGEQPFGPUCFQ[RCTCGNECUQFGWP15&EQPUWNVGNCUGEEKÉP+PUVCNCEKÉP
2CTCWPKFCFGU(WNNHGCVWTGEQPGEVGVCODK¾PNCUCNKFCFGFTGPCLGFGEQPFGPUCFQFGNUGECFQTCWP
EQNGEVQTFGFTGPCLG
.QUVWDQUFGFTGPCLGCNEQNGEVQTPQFGDGPGPVTCTGPEQPVCEVQEQPGNCIWC2CTCUCECTCIWC
EQPFGPUCFCRWTCJC[SWGKPUVCNCTWPUGRCTCFQTFGCEGKVGCIWCFGXGPVCEQOQQREKÉPGP#VNCU
%QREQEQPUWNVGNCUGEEKÉP7PKFCF15&5KNCUVWDGTÃCUUGJCPKPUVCNCFQGPGNGZVGTKQTFGNCUCNC
FQPFGRWGFCPSWGFCTGZRWGUVCUCJGNCFCUFGDGPCKUNCTUG
 2CTCEQORTGUQTGUEQPWPCEQPGZKÉPFGHKNVTQ&&Q&&[2&FTGPCLGCWVQO±VKEQFGNQUHKNVTQUCN
EQNGEVQTFGFTGPCLGCFGEWCFQ
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCGNENKGPVGFGDGKPUVCNCTGPNCVWDGTÃCFGCIWCFG
TGHTKIGTCEKÉPX±NXWNCUFGFTGPCLGX±NXWNCUFGEKGTTG[WPCX±NXWNCFGTGIWNCEKÉP
 %QORTWGDGGNPKXGNFGCEGKVG
.CCIWLCFGNKPFKECFQTFGPKXGN
)+FGDGGPEQPVTCTUGGPGNECORQUWRGTKQTFGNC\QPCXGTFGQGP
NC\QPCPCTCPLC
 2TQX¾CUGFGCFJGUKXQUSWGCXKUGPCNQRGTCFQTFGSWG
Ő 'URQUKDNGSWGGNEQORTGUQTXWGNXCCCTTCPECTCWVQO±VKECOGPVGFGURW¾UFGKPVGTTWREKÉPFGN
XQNVCLG
UKGUV±CEVKXCFQEQPUWNVGC#VNCU%QREQ
Ő 'NEQORTGUQTXCEQPVTQNCFQCWVQO±VKECOGPVG[RWGFGSWGCTTCPSWGGPEWCNSWKGTOQOGPVQ
Ő 'URQUKDNGSWGGNEQORTGUQTXC[COCPFCFQCFKUVCPEKC
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCEKGTTGNCUX±NXWNCUFGFTGPCLGFGCIWCFGTGHTKIGTCEKÉP
#DTCNCX±NXWNCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP[NCX±NXWNCFGTGIWNCEKÉP
 %QPGEVGGNXQNVCLG#TTCPSWGGNEQORTGUQT[R±TGNQCNKPUVCPVG
'PEQORTGUQTGUTGHTKIGTCFQURQTCKTGEQORTWGDGNCFKTGEEKÉPFGTQVCEKÉPFGNOQVQTFGN
XGPVKNCFQT5GGPEWGPVTCPRTQXKUVCUHNGEJCUFGTQVCEKÉPXKUKDNGUCVTCX¾UFGNCTGLKNNCGPGNVGEJQ
GPNCRNCECFGNXGPVKNCFQT5KNCFKTGEEKÉPFGTQVCEKÉPGUKPEQTTGEVCCDTCGNKPVGTTWRVQTUGRCTCFQT
FGNCNÃPGCFGUWOKPKUVTQFGXQNVCLGGKPXKGTVCFQUNÃPGCUGN¾EVTKECUFGGPVTCFC
 %QORTWGDGNQUCLWUVGURTQITCOCFQU%QPUWNVGNCUGEEKÉP#LWUVGURTQITCOCDNGU
 2QPICGNEQORTGUQTGPOCTEJC[FGLGSWGHWPEKQPGFWTCPVGCNIWPQUOKPWVQU%QORTWGDGSWGGN
EQORTGUQTHWPEKQPCEQPPQTOCNKFCF

 #PVGUFGCTTCPECT

1DUGTXCEKQPGU

Ő 5KGNEQORTGUQTPQUGJCWVKNK\CFQFWTCPVGNQUÐNVKOQUOGUGUUGTGEQOKGPFC
GPECTGEKFCOGPVGSWGUGOGLQTGNCNWDTKECEKÉPFGNGNGOGPVQEQORTGUQTCN
CTTCPECT
Ő #HNQLGNCCDTC\CFGTC
[FGUEQPGEVGNCOCPIWGTCFGGPVTCFC

Ő 'P)#85&[)#85&NGXCPVGNCOCPIWGTCFGGPVTCFC
CDTCNC
X±NXWNCFGTGVGPEKÉP
%8[XKGTVCN
75ICN+ORICNFGCEGKVG
GPGNGNGOGPVQEQORTGUQT
Ő 8WGNXCCKPUVCNCTNCOCPIWGTCFGGPVTCFC

Ő 2CTCEQORTGUQTGU(WNNHGCVWTGEQPGEVGGNXQNVCLGJQTCUCPVGUFGCTTCPECTCHKP
FGGPGTIK\CTGNECNGPVCFQTFGNE±TVGTFGNEQORTGUQTFGTGHTKIGTCPVGFGNUGECFQT


/CPWCNFGKPUVTWEEKQPGU

7DKECEKÉPFGNFGUECTICFQTGP)#85&[)#85&

2TQEGFKOKGPVQ

 %QPUWNVGNCUGEEKÉP#TTCPSWGKPKEKCNRCTCEQPQEGTNCWDKECEKÉPFGNQUEQORQPGPVGUFGNUKUVGOCFG
CEGKVG
%QORTWGDGGNPKXGNFGCEGKVG
)+[CÇCFCUKGURTGEKUQ.CCIWLCFGDGGPEQPVTCTUGGPGNECORQ
UWRGTKQTFGNC\QPCXGTFGQGPNC\QPCCPCTCPLCFC5KNCCIWLCUGGPEWGPVTCGPNC\QPC.19

$#,1FGURTGUWTKEGGNUKUVGOCFGCEGKVG
EQPUWNVGNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU'URGTGC
SWGGNEQORTGUQTUGFGURTGUWTKEG#HNQLGGNVCRÉPFGNNGPCFQFGCEGKVG
(%FGUCVQTPKNNCPFQUÉNQ
EQPWPCXWGNVCRCTCSWGGUECRGNCRTGUKÉPSWGRWGFCJCDGTUGCEWOWNCFQGPGNUKUVGOC'ZVTCKIC
GNVCRÉPFGNNGPCFQ[CÇCFCCEGKVGJCUVCSWGGNPKXGNCNECPEGGNEWGNNQFGNNGPCFQ#RTKGVGGN
VCRÉP
 5KGURTGEKUQXCEÃGGNEQNGEVQTFGRQNXQFGNHKNVTQEQPUWNVGNCUGEEKÉP(KNVTQFGCKTG
 5KGUV±EQORNGVCOGPVGGZVTCÃFCNCRCTVGTQLCFGNKPFKECFQTFGUGTXKEKQFGNHKNVTQFGCKTGTGGORNCEG
GNGNGOGPVQFGNHKNVTQFGCKTG4GUVCDNG\ECGNKPFKECFQTFGUGTXKEKQ
8+CRTGVCPFQGNDQVÉPWDKECFQ
GPGNGZVTGOQFGNEWGTRQ[TGCTOGGNCXKUQFGUGTXKEKQ
EQPUWNVGNCUGEEKÉP/GPÐ5GTXKEKQ
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCVCODK¾P
Ő %QORTWGDGSWGGUV±PEGTTCFCUNCUX±NXWNCUFGFTGPCLGFGNCIWCFGTGHTKIGTCEKÉPGPNCU
VWDGTÃCUFGGPVTCFC[UCNKFC
Ő #DTCNCX±NXWNCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP
Ő #DTCNCX±NXWNCFGTGIWNCEKÉPFGNHNWLQFGCIWC'UVGRCUQUGRWGFGQOKVKTUKPQUGJC
OQFKHKECFQGNCLWUVGFGFKEJCX±NXWNCVTCUWPHWPEKQPCOKGPVQCPVGTKQT


 /CPWCNFGKPUVTWEEKQPGU

 #TTCPSWG

2TQEGFKOKGPVQ

2CTCEQPQEGTNCRQUKEKÉPFGNCX±NXWNCFGUCNKFCFGCKTG[NCUEQPGZKQPGUFGFTGPCLG
%QPUWNVGNCUUGEEKQPGU+PVTQFWEEKÉP[5KUVGOCFGEQPFGPUCFQ

2CPGNFGEQPVTQN

 %QPGEVGGNXQNVCLG%QORTWGDGSWGUGGPEKGPFGGN.'&FGXQNVCLGEQPGEVCFQ
#RCTGEGGN
OGPUCLGň%QORTGUQTQHHʼn
 #DTCNCX±NXWNCFGUCNKFCFGCKTG
#8
 2WNUGGNDQVÉPFGCTTCPSWG
FGNRCPGNFGEQPVTQN'NEQORTGUQTUGRQPGGPOCTEJC[GN.'&
FGHWPEKQPCOKGPVQCWVQO±VKEQ
UGGPEKGPFG
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCTGIWNGGNHNWLQFGCIWCFGTGHTKIGTCEKÉPEQPGNEQORTGUQT
CNCO±ZKOCXGNQEKFCF#LWUVGGNHNWLQFGCIWCRCTCQDVGPGTWPCVGORGTCVWTCÉRVKOCGPNCUCNKFC
FGNGNGOGPVQGUFGEKTGPVTG[u%
[u(RQTGPEKOCFGNCVGORGTCVWTC
EQTTGURQPFKGPVGKPFKECFCGPNCUKIWKGPVGHKIWTC
2CTCNQITCTWPHWPEKQPCOKGPVQÉRVKOQNCVGORGTCVWTCFGUCNKFCFGNCIWCFGTGHTKIGTCEKÉPPQ
FGDGT±UQDTGRCUCTPWPECGNXCNQTGURGEKHKECFQGPNCUGEEKÉP&CVQUFGNEQORTGUQT
%QPUWNVGC#VNCU%QREQUKUGHQTOCTCEQPFGPUCFQFWTCPVGRGTKQFQUFGFGUECTICHTGEWGPVGU


/CPWCNFGKPUVTWEEKQPGU

6GORGTCVWTCOÃPKOCFGNGNGOGPVQEQORTGUQTRCTCWPKFCFGUTGHTKIGTCFCURQTCIWC

Ő
#VGORGTCVWTCFGGPVTCFCFGCKTG
Ő
$VGORGTCVWTCFGEQPFGPUCEKÉP
Ő
%RTGUKÉPFGVTCDCLQ
Ő
&JWOGFCFTGNCVKXCFGCKTG
'LGORNQUKUGVTCDCLCCWPCRTGUKÉPFGDCT
G
RUKIGPWPCVGORGTCVWTCCODKGPVGFGu%

u([WPCJWOGFCFTGNCVKXCFGNCKTGFGWPNCVGORGTCVWTCOÃPKOCRCTCKORGFKTSWGUGHQTOG
EQPFGPUCFQGUFGu%
u(*C[SWGTGIWNCTGNHNWLQFGCIWCFGTGHTKIGTCEKÉPFWTCPVGGN
HWPEKQPCOKGPVQGPECTICRCTCNQITCTWPCVGORGTCVWTCGPVTGu%[CRTQZ%
[CRTQZu(
GPNCUCNKFCFGNGNGOGPVQEQORTGUQT

 &WTCPVGGNHWPEKQPCOKGPVQ

2TQEGFKOKGPVQ

'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU%QPUWNVG
VCODK¾PNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU

/CPVGPICNCURWGTVCUEGTTCFCUFWTCPVGGNHWPEKQPCOKGPVQRWGFGCDTKTNCUÐPKECOGPVG
RQTDTGXGURGTÃQFQURCTCNNGXCTCECDQEQORTQDCEKQPGU

5KNQUOQVQTGUGUV±PFGVGPKFQU[GN.'&
GPEGPFKFQNQUOQVQTGURQFTÃCPRQPGTUGGP
OCTEJCCWVQO±VKECOGPVG


 /CPWCNFGKPUVTWEEKQPGU

2CPGNFGEQPVTQN

7DKECEKÉPFGNCOKTKNNCFGPKXGNFGCEGKVGGP)#85&[)#85&


/CPWCNFGKPUVTWEEKQPGU

2QUKEKÉPFGNKPFKECFQTFGUGTXKEKQGP)#85&[)#85&

%QORTWGDGGNPKXGNFGCEGKVGFWTCPVGGNHWPEKQPCOKGPVQNCCIWLCFGNKPFKECFQTFGPKXGN
)NFGDG
GPEQPVTCTUGGPNC\QPCXGTFGFGNQEQPVTCTKQRWNUGGNDQVÉPFGRCTCFC

%KGTTGNCX±NXWNCFGUCNKFCFGCKTG
#8[RWNUGGNDQVÉPFGRTWGDCUQDTGGNFKURQUKVKXQGNGEVTÉPKEQFG
FTGPCLGFGCIWCJCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾
EQORNGVCOGPVGFGURTGUWTK\CFC
EQPUWNVGNCUUGEEKQPGU+PVTQFWEEKÉP[5KUVGOCFGEQPFGPUCFQRCTC
EQPQEGTUWWDKECEKÉP
2CTC)#85&CN)#85&(WNN(GCVWTGRWNUGVCODK¾PGNDQVÉPFGRTWGDCSWGUGGPEWGPVTCUQDTGGN
FKURQUKVKXQGNGEVTÉPKEQFGFTGPCLGFGCIWCFGNUGECFQTJCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFG
CKTG[NCX±NXWNCFGUCNKFCGUV¾EQORNGVCOGPVGFGURTGUWTK\CFC
2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC

'URGTGCSWGGNEQORTGUQTUGFGURTGUWTKEG#HNQLGGNVCRÉPFGNNGPCFQFGCEGKVG
(%FGUCVQTPKNNCPFQUÉNQ
EQPWPCXWGNVCRCTCSWGGUECRGNCRTGUKÉPSWGRQFTÃCJCDGTUGCEWOWNCFQGPGNUKUVGOC'ZVTCKICGN
VCRÉP[CÇCFCCEGKVGJCUVCSWGGNPKXGNCNECPEGNCCDGTVWTCFGNVCRÉPFGNNGPCFQ+PUVCNG[CRTKGVGGN
VCRÉP
(%
5KNCRCTVGEQNQTGCFCFGNKPFKECFQTFGUGTXKEKQ
8+GUV±EQORNGVCOGPVGGZVTCÃFCRCTGGNEQORTGUQT
FGUEQPGEVGGNXQNVCLG[TGGORNCEGGNGNGOGPVQFGNHKNVTQFGCKTG4GRQUKEKQPGGNKPFKECFQTFGUGTXKEKQ
CRTGVCPFQGNDQVÉPGPGNGZVTGOQFGNEWGTRQ
5KGUV±GPEGPFKFQGN.'&FGHWPEKQPCOKGPVQCWVQO±VKEQ
GNTGIWNCFQTEQPVTQNCGNEQORTGUQT
CWVQO±VKECOGPVGGUFGEKTCLWUVCNCXGNQEKFCFFGNEQORTGUQTCNCRTGUKÉPFGNCTGFCTTCPECPFQ[
FGVGPKGPFQGNEQORTGUQTEWCPFQUGCPGEGUCTKQ
%QORTWGDGSWGUGFGUECTICEQPFGPUCFQFWTCPVGGNHWPEKQPCOKGPVQCKPVGTXCNQUTGIWNCTGU%QPUWNVGNC
UGEEKÉP5KUVGOCFGEQPFGPUCFQ[GPECUQFGWP15&EQORTWGDGVCODK¾PGNPKXGNFGNEQNGEVQTFG
CEGKVGEQPUWNVGNCUGEEKÉP+PUVTWEEKQPGUFGOCPVGPKOKGPVQ[HWPEKQPCOKGPVQFG15&.CECPVKFCFFG
EQPFGPUCFQFGRGPFGFGNCUEQPFKEKQPGUFGVTCDCLQ[NCUEQPFKEKQPGUOGFKQCODKGPVCNGU


 /CPWCNFGKPUVTWEEKQPGU

 %QORTQDCTGNFKURNC[

2TQEGFKOKGPVQ

2CPGNFGEQPVTQN

%QORTWGDGGNFKURNC[
TGIWNCTOGPVGRCTCEQPQEGTNCUNGEVWTCU[OGPUCLGU0QTOCNOGPVGGNFKURNC[
OWGUVTCNCRTGUKÉPFGUCNKFCFGNEQORTGUQTNCXGNQEKFCFFGNOQVQT[NCUCDTGXKCVWTCUFGNCUHWPEKQPGUFG
NCUVGENCUFGDCLQFGNFKURNC[
%QORTWGDGUKGORTGGNFKURNC[
[UQNWEKQPGNCUCXGTÃCUUKGUV±GPEGPFKFQQRCTRCFGCGN.'&FGCNCTOC

%QPUWNVGNCUGEEKÉP/GPÐ&CVQUFGGUVCFQ
'PGNFKURNC[
CRCTGEGT±WPOGPUCLGFGUGTXKEKQUKUGJCGZEGFKFQWPKPVGTXCNQFGNRNCPFGUGTXKEKQQGN
PKXGNFGUGTXKEKQFGWPQFGNQUEQORQPGPVGUOQPKVQTK\CFQU.NGXGCECDQNCUCEEKQPGUFGUGTXKEKQFGNQU
RNCPGUKPFKECFQUQTGGORNCEGGNEQORQPGPVG[TGUVCDNG\ECGNVGORQTK\CFQTGPEWGUVKÉPEQPUWNVGNC
UGEEKÉP/GPÐ&CVQUFGGUVCFQ
2WNUGTGIWNCTOGPVGNCVGENCEQPHNGEJCCDCLQ
GPNCRCPVCNNCRTKPEKRCNRCTCQDVGPGTKPHQTOCEKÉPCEGTEC
FGNGUVCFQCEVWCNFGNEQORTGUQT%QPUWNVGNCUGEEKÉP%QPUWNVCT±RKFCFGNGUVCFQCEVWCNFGNEQORTGUQT

 2CTCFC

4GIWNCFQT'NGMVTQPKMQP

2CPGNFGEQPVTQN


/CPWCNFGKPUVTWEEKQPGU

2TQEGFKOKGPVQ

 2WNUGGNDQVÉPFGRCTCFC
'N.'&FGHWPEKQPCOKGPVQCWVQO±VKEQ
UGCRCIC'N
EQORTGUQTUGFGVKGPG
 2CTCFGVGPGTGNEQORTGUQTCNKPUVCPVGGPECUQFGGOGTIGPEKCRWNUGGNDQVÉPFG
RCTCFCFGGOGTIGPEKC
'N.'&FGCNCTOC
RCTRCFGC
&GURW¾UFGUQNWEKQPCTNCCXGTÃCVKTGFGNDQVÉPRCTCFGUDNQSWGCTNQ[RWNUGNCVGENC
4GCT 
CPVGUFGXQNXGTCCTTCPECT
 %KGTTGNCX±NXWNCFGUCNKFCFGCKTG
#8
EQPUWNVGNCUGEEKÉP+PVTQFWEEKÉP
 2WNUGGNDQVÉPFGRTWGDCUQDTGNQUFKURQUKVKXQUGNGEVTÉPKEQUFGFTGPCLGFGCIWC
JCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾
EQORNGVCOGPVGFGURTGUWTK\CFQ%QPUWNVGNCUGEEKÉP5KUVGOCFGEQPFGPUCFQ
&GUEQPGEVGGNXQNVCLG
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWC
Ő %KGTTGNCX±NXWNCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP
Ő 5KUGRTGX¾PVGORGTCVWTCUFGEQPIGNCEKÉPXCEÃGEQORNGVCOGPVGGNUKUVGOCFG
TGHTKIGTCEKÉP

 2WGUVCHWGTCFGUGTXKEKQ

#XKUQ

'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU

2TQEGFKOKGPVQ

 2CTGGNEQORTGUQT[EKGTTGNCX±NXWNCFGUCNKFCFGCKTG
 2WNUGGNDQVÉPFGRTWGDCUQDTGNQUFKURQUKVKXQUGNGEVTÉPKEQUFGFTGPCLGFGCIWC
JCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾
EQORNGVCOGPVGFGURTGUWTK\CFQ%QPUWNVGNCUGEEKÉP5KUVGOCFGEQPFGPUCFQ
FGUCVQTPKNNGGNVCRÉPFGNNGPCFQFGCEGKVGWPCUQNCXWGNVCPQO±UCHKPFGRGTOKVKT
SWGGUECRGNCRTGUKÉPGXGPVWCNFGNUKUVGOC%QPUWNVGNCUGEEKÉP%CODKQFGCEGKVG[
HKNVTQUFGCEGKVGRCTCNQECNK\CTGNVCRÉPFGNNGPCFQ
 2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKCFGUEQPGEVGGNXQNVCLG[FGUEQPGEVGGN
EQORTGUQTFGNCTGFGN¾EVTKEC
 %KGTTG[FGURTGUWTKEGNCRCTVGFGNCTGFFGCKTGEQPGEVCFCCNCX±NXWNCFGUCNKFC
5GRCTGGNVWDQFGUCNKFCFGCKTGFGNEQORTGUQTFGNCTGFFGCKTG
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWC
Ő #ÃUNG[UGRCTGGNUKUVGOCFGCIWCFGNCTGFFGCIWCFGTGHTKIGTCEKÉP
Ő 5CSWGGNCEGKVGFGNEKTEWKVQ
 8CEÃGGNCEGKVG
 8CEÃGGNEKTEWKVQFGEQPFGPUCFQ[FGUEQPGEVGNQUVWDQUFGEQPFGPUCFQFGNCTGFFG
EQPFGPUCFQ


 /CPWCNFGKPUVTWEEKQPGU

 /CPVGPKOKGPVQ

 2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ

2CPGNFGEQPVTQN

2CPGNFGEQPVTQN

#XKUQ

#PVGUFGNNGXCTCECDQEWCNSWKGTQRGTCEKÉPFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVG
RTQEGFCFGNCUKIWKGPVGOCPGTC
Ő 2CTGGNEQORTGUQT
Ő %KGTTGNCX±NXWNCFGUCNKFCFGCKTG[RWNUGGNDQVÉPFGRTWGDCUQDTGNQU
FKURQUKVKXQUGNGEVTÉPKEQUFGFTGPCLGFGCIWCJCUVCSWGGNUKUVGOCFGCKTGGPVTGGN
TGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾EQORNGVCOGPVGFGURTGUWTK\CFQ
Ő 2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC

Ő &GUEQPGEVGGNXQNVCLG
Ő &GURTGUWTKEGGNEQORTGUQT
2CTCQDVGPGTKPUVTWEEKQPGUFGVCNNCFCUEQPUWNVG5QNWEKÉPFGRTQDNGOCU
'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU

#PVGUFGNOCPVGPKOKGPVQOGE±PKEQ

%KGTTGNCX±NXWNCFGUCNKFCFGCKTG[RWNUGGNDQVÉPFGRTWGDCUQDTGNQUFKURQUKVKXQU
GNGEVTÉPKEQUFGFTGPCLGFGCIWCJCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG
[NCX±NXWNCFGUCNKFCGUV¾EQORNGVCOGPVGFGURTGUWTK\CFQ
2CTCEQPQEGTNCWDKECEKÉPFGNQUEQORQPGPVGUEQPUWNVGNCUGEEKÉP5KUVGOCFG
EQPFGPUCFQ

#PVGUFGNOCPVGPKOKGPVQGN¾EVTKEQ

'URGTGFWTCPVGOKPWVQURQTNQOGPQUCPVGUFGGORG\CTGNOCPVGPKOKGPVQ[CSWG
GUV±PDCLQCNVCVGPUKÉPNQUEQPFGPUCFQTGUFGNCWPKFCFFGTGIWNCEKÉPFGXGNQEKFCF[
CTTCPSWGFWTCPVGOKPWVQUFGURW¾UFGKPVGTTWORKTGNXQNVCLG


/CPWCNFGKPUVTWEEKQPGU

)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

+PVGTXCNQU
'N%GPVTQFG5GTXKEKQC%NKGPVGUFG#VNCU%QREQNQECNRWGFGQDXKCTGNRTQITCOCFGOCPVGPKOKGPVQ
GURGEKCNOGPVGGPNQSWGUGTGHKGTGCNQUKPVGTXCNQUFGUGTXKEKQGPHWPEKÉPFGNCUEQPFKEKQPGUCODKGPVCNGU
[FGVTCDCLQFGNEQORTGUQT
.CUEQORTQDCEKQPGUFGNQUKPVGTXCNQUNCTIQUFGDGPVCODK¾PKPENWKTNCUFGNQUKPVGTXCNQUEQTVQU

2NCPGUFGUGTXKEKQ

#FGO±UFGNCUEQORTQDCEKQPGUFKCTKCU[VTKOGUVTCNGUNCUQRGTCEKQPGUFGUGTXKEKQUG
CITWRCPGPRNCPGUNNCOCFQU2NCPGUFG5GTXKEKQ#$GVEEQOQUGGURGEKHKECGPGN
RTQITCOCUKIWKGPVG
%CFCRNCPVKGPGWPKPVGTXCNQFGVKGORQRTQITCOCFQCNSWGFGDGPNNGXCTUGCECDQ
VQFCUNCUCEEKQPGUFGUGTXKEKQRGTVGPGEKGPVGUCFKEJQRNCP#NCNECP\CTGNKPVGTXCNQ
CRCTGEGT±WPOGPUCLGGPNCRCPVCNNCSWGKPFKECSW¾2NCPGUFGUGTXKEKQFGDGP
TGCNK\CTUGEQPUWNVGNCUGEEKÉP/GPÐ&CVQUFGGUVCFQ*C[SWGTGCTOCTNQU
KPVGTXCNQUFGURW¾UFGNUGTXKEKQEQPUWNVGNCUGEEKÉP/GPÐ5GTXKEKQ

2TQITCOCFGOCPVGPKOKGPVQRTGXGPVKXQ
)GPGTCNKFCFGU

2GTÃQFQ 1RGTCEKÉP
&KCTKQ %QORTWGDGGNPKXGNFGNCEGKVG
 %QORTWGDGNCUKPFKECEKQPGUGPGNFKURNC[
 %QORTWGDGGNKPFKECFQTFGUGTXKEKQFGNHKNVTQFGCKTG


 /CPWCNFGKPUVTWEEKQPGU

2GTÃQFQ 1RGTCEKÉP
 'PEQORTGUQTGUTGHTKIGTCFQURQTCIWCEQORTWGDGGNHNWLQFGCIWCFGTGHTKIGTCEKÉP
%CFCOGUGU %QORTWGDGNQUTGHTKIGTCFQTGUNÃORKGNQUGPECUQRTGEKUQ
 'PEQORTGUQTGUEQPUGECFQTKPVGTPQEQORTWGDGGNEQPFGPUCFQTFGNUGECFQT[
NÃORKGNQGPECUQPGEGUCTKQ
 4GVKTG[GZCOKPGGNGNGOGPVQFGNHKNVTQFGCKTG5KGUPGEGUCTKQKPUWHNGCKTGRCTC
NKORKCTNQ[GZCOÃPGNQCEQPVKPWCEKÉP
/±UCOGPWFQUKUGVTCDCLCGPWPCODKGPVGRQNXQTKGPVQ
4GGORNCEGGNGOGPVQUFCÇCFQUQOW[EQPVCOKPCFQU
 %QORTWGDGSWGUGFGUECTICEQPFGPUCFQCNRWNUCTGNDQVÉPFGRTWGDCUQDTGGN
FKURQUKVKXQGNGEVTÉPKEQFGFTGPCLGFGCIWC

*QTCUFG 2NCPFGUGTXKEKQ 1RGTCEKÉP

HWPEKQPCOKGPVQ
  5KUGWVKNK\C#VNCU%QREQ4QVQ(QQFITCFG(NWKFECODKGGNCEGKVG[
TGGORNCEGGNHKNVTQFGCEGKVG
 # 5KUGWVKNK\C#VNCU%QREQ4QVQ+PLGEV(NWKFECODKGGNCEGKVG[
TGGORNCEGGNHKNVTQFGCEGKVG
 $ 4GGORNCEGGNGNGOGPVQHKNVTCPVGFGCKTG
 $ %QORTWGDGGNGUVCFQFGNCOCPIWGTCFGVQOCFGCKTGGPVTGGN
HKNVTQFGCKTG[GNGNGOGPVQ
 $ %QORTWGDGNCUNGEVWTCUFGRTGUKÉP[VGORGTCVWTC
 $ .NGXGCECDQWPCRTWGDCFGNQU.'&FKURNC[
 $ 4GGORNCEGNCUCNOQJCFKNNCUHKNVTCPVGUFGCKTGFGNCTOCTKQFGN
EQPXGTVKFQT
 $ %QORTWGDGUKJC[HWICU
 $ 'PNQUEQORTGUQTGUTGHTKIGTCFQURQTCKTGNKORKGNQU
TGHTKIGTCFQTGU
 $ 'PEQORTGUQTGUTGHTKIGTCFQURQTCKTGEQORTWGDG[NKORKGGN
EQPLWPVQFGNXGPVKNCFQTFGGPHTKCOKGPVQ
 $ 2TWGDGNCHWPEKÉPFGRCTCFCFGVGORGTCVWTC
 $ *CICRTQDCTNCX±NXWNCFGUGIWTKFCF
 $ .KORKGNCUCNGVCUFGGPHTKCOKGPVQFGNQUOQVQTGUGN¾EVTKEQU
 $ %QORTWGDGNCNKORKG\CFGNTGUVTKEVQTGPNCNÃPGCFGDCTTKFQ
 $ %QORTWGDGGNHWPEKQPCOKGPVQFGNQUXGPVKNCFQTGUFGTGHTKIGTCEKÉP
FGNEQPXGTVKFQT
 $ %QORTWGDGNCX±NXWNCFGUQNGPQKFGFGGZRWNUKÉPFGURW¾UFG
FGVGPGTNCWPKFCF[RWNUCTGNDQVÉPFGRCTCFCFGGOGTIGPEKC
 % 4GGORNCEGGNUGRCTCFQTFGCEGKVG
4GGORNCEGGNUGRCTCFQTFGCEGKVGUKNCRTGUKÉPFGUEKGPFGO±UFG
DCTFWTCPVGNCOCTEJCGPECTICEQPWPCRTGUKÉPFGVTCDCLQ
GUVCDNG
 % 5KUGWVKNK\C#VNCU%QREQ4QVQ:VGPF&WV[(NWKFECODKGGNCEGKVG
[TGGORNCEGGNHKNVTQFGCEGKVG


/CPWCNFGKPUVTWEEKQPGU

+ORQTVCPVG

Ő %QPUWNVGUKGORTGC#VNCU%QREQRCTCOQFKHKECTGNCLWUVGFGWPVGORQTK\CFQT
Ő 2CTCEQPQEGTGNKPVGTXCNQFGECODKQFGCEGKVG[HKNVTQFGCEGKVGGPEQPFKEKQPGU
GZVTGOCUFGVGORGTCVWTCJWOGFCFQCKTGFGTGHTKIGTCEKÉPEQPUWNVGC#VNCU
%QREQ
Ő &GDGTGRCTCTEWCNSWKGTHWICKPOGFKCVCOGPVG*C[SWGUWUVKVWKTVWDGTÃCUQLWPVCU
HNGZKDNGUFCÇCFCU

 /QVQTFGCEEKQPCOKGPVQ

/QFGNQU)#85&[)#85&
'NEQLKPGVGFGNNCFQUKPCEEKQPCOKGPVQGUV±GPITCUCFQFGRQTXKFC
'NEQLKPGVGFGNNCFQFGCEEKQPCOKGPVQGUV±NWDTKECFQRQTGNUKUVGOCFGCEGKVG

 'URGEKHKECEKQPGUFGNCEGKVG

0QOG\ENGPWPECCEGKVGUFGOCTECUQVKRQUFKHGTGPVGU
2CTCCUGIWTCTWPCDWGPCECNKFCFFGNCEGKVGFTGPGGNEQORTGUQTGPVQFQUNQURWPVQU
FGFTGPCLG.QUCEGKVGUWUCFQUSWGUGFGLCPGPGNEQORTGUQTRWGFGPEQPVCOKPCTGN
UKUVGOCFGCEGKVG

5GTGEQOKGPFCOW[GPECTGEKFCOGPVGSWGWVKNKEG#VNCU%QREQ(NWKF%QPUWNVGNCUGEEKÉP2TQITCOCFG
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

#VNCU%QREQ4QVQ:VGPF&WV[(NWKF
#EGKVGRCTCWPKFCFGU%5#7.[,20GZEGRVQRCTCWPKFCFGUEQPWPXQNVCLGFGOQVQTFG8
#EGKVGGURGEKCNUWOKPKUVTCFQEQOQQREKÉPRCTCWPKFCFGU+'%[WPKFCFGU%5#7.EQPWPXQNVCLGFG
OQVQTFG8
#VNCU%QREQ4QVQ:VGPF&WV[(NWKFGUWPNWDTKECPVGUKPV¾VKEQFGCNVCECNKFCFRCTCEQORTGUQTGUFGGURKTCN
[VQTPKNNQEQPKP[GEEKÉPFGCEGKVGSWGOCPVKGPGGNEQORTGUQTGPGZEGNGPVGGUVCFQ#VNCU%QREQ*&4QVQ
'ZVTGOG&WV[(NWKFRWGFGWVKNK\CTUGRCTCEQORTGUQTGUSWGHWPEKQPGPCWPCVGORGTCVWTCCODKGPVGFG
GPVTGu%
u([u%
u(
EQPUWNVGNCUGEEKÉP,WGIQUFGUGTXKEKQ


 /CPWCNFGKPUVTWEEKQPGU

#VNCU%QREQ4QVQ(QQFITCFG(NWKF
#EGKVGGURGEKCNUWOKPKUVTCFQEQOQQREKÉP
#VNCU%QREQ4QVQ(QQFITCFG(NWKFGUWPNWDTKECPVGUKPV¾VKEQFGCNVCECNKFCFGZENWUKXQETGCFQ
GURGEKCNOGPVGRCTCEQORTGUQTGUFGVQTPKNNQEQPKP[GEEKÉPFGCEGKVGSWGUWOKPKUVTCPCKTGRCTCNCKPFWUVTKC
FGCNKOGPVCEKÉP'UVGNWDTKECPVGOCPVKGPGGNEQORTGUQTGPRGTHGEVQGUVCFQ4QVQ(QQFITCFG(NWKFRWGFG
WVKNK\CTUGRCTCEQORTGUQTGUSWGHWPEKQPGPCWPCVGORGTCVWTCCODKGPVGFGGPVTGu%
u([u%

u(
EQPUWNVGNCUGEEKÉP,WGIQUFGUGTXKEKQ

1DUGTXCEKÉP

'NFGRÉUKVQFGCKTGVCPSWGFGCEGKVGNNGXCWPCGVKSWGVCSWGKPFKECGNVKRQFGCEGKVG
NNGPCFQGPH±DTKEC

 %CODKQFGCEGKVG[HKNVTQUFGCEGKVG

#XKUQ

'NQRGTCFQTFGDGQDUGTXCTVQFCUNCU2TGECWEKQPGUFGUGIWTKFCFRGTVKPGPVGU

2TQEGFKOKGPVQ

%QORQPGPVGUFGNUKUVGOCFGCEGKVGFG)#85&[)#85&


/CPWCNFGKPUVTWEEKQPGU

6CRQPGUFGFTGPCLGFGCEGKVGFG)#85&[)#85&

 2QPICGPOCTEJCGNEQORTGUQT[GURGTGCSWGUGECNKGPVGEKGTTGNCX±NXWNCFGUCNKFCFGCKTG[
FGLGHWPEKQPCTGNEQORTGUQTFWTCPVGOKPWVQUCNCXGNQEKFCFOÃPKOC&GVGPICGNEQORTGUQT
RWNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC[GURGTGCSWGGNEQORTGUQTUGFGURTGUWTKEG
#HNQLGGNVCRÉPFGNNGPCFQFGCEGKVG
(%FGUCVQTPKNNCPFQUÉNQEQPWPCXWGNVCRCTCSWGGUECRG
NCRTGUKÉPSWGRQFTÃCJCDGTUGCEWOWNCFQGPGNUKUVGOC
 #HNQLGGNVCRÉPFGXGPVKNCEKÉPFGNTGHTKIGTCFQTFGCEGKVG[GURGTGOKPWVQU
%QPUWNVGNCUGEEKÉP+PVTQFWEEKÉPRCTCEQPQEGTNCRQUKEKÉPFGNVCRÉPFGXGPVKNCEKÉP
82
 'ZVTCKICGNVCRÉPFGFTGPCLG
&2[CDTCNCX±NXWNCFGFTGPCLG
&O
+IWCNOGPVGFTGPGGNCEGKVGSWKVCPFQNQUVCRQPGUFGFTGPCLG
Ő GPNCX±NXWNCFGTGVGPEKÉP
&2
Ő GPNCECLCFGGPITCPCLGU
&2
 4GEQLCGNCEGKVGGPWPTGEKRKGPVG[GPVT¾IWGNQCNUGTXKEKQFGTGEQIKFCFGCEGKVG4GKPUVCNG[
CRTKGVGNQUVCRQPGUFGFTGPCLG[XGPVKNCEKÉPFGURW¾UFGNFTGPCLG
%KGTTGNCX±NXWNCFGFTGPCLG
&O
 &GUCVQTPKNNGNQURGTPQUFGNCVCRC
[GZVT±KICNC5CSWGGNGNGOGPVQFGNHKNVTQFGCKTGFGNC
ECLCFGNHKNVTQFGCEGKVG
1(+PUVCNGWPPWGXQHKNVTQFGCEGKVG.WDTKSWGEQPCEGKVGNCPWGXC
LWPVC+PUVCNGNCVCRC[CVQTPKNNGNQURGTPQU
CNCECLCFGNHKNVTQFGCEGKVG
 'ZVTCKICGNVCRÉPFGNNGPCFQ
(%
.NGPGGNFGRÉUKVQFGCKTG
#4EQPCEGKVGJCUVCSWGGNPKXGNNNGIWGCNEWGNNQFGNNGPCFQ
%WKFGFGSWGPQECKICUWEKGFCFGPGNUKUVGOC4GKPUVCNG[CRTKGVGGNVCRÉPFGNNGPCFQ
(%
 *CICHWPEKQPCTGNEQORTGUQTGPECTICWPQUOKPWVQU2CTGGNEQORTGUQT[GURGTGWPQU
OKPWVQUCHKPFGRGTOKVKTSWGUGTGRQUGGNCEGKVG
 &GURTGUWTKEGGNUKUVGOCFGUCVQTPKNNCPFQGNVCRÉPFGNNGPCFQ
(%WPCUQNCXWGNVCRCTCRGTOKVKT
SWGGUECRGNCRTGUKÉPSWGRQFTÃCJCDGTUGCEWOWNCFQGPGNUKUVGOC'ZVTCKICGNVCRÉP
.NGPGGNFGRÉUKVQFGCKTGEQPCEGKVGJCUVCSWGGNPKXGNNNGIWGCNEWGNNQFGNNGPCFQ
#RTKGVGGNVCRÉPFGNNGPCFQ
 4GUVCDNG\ECGNVGORQTK\CFQTFGUGTXKEKQ
Ő 7PCXG\TGCNK\CFCUVQFCUNCUCEEKQPGUFGUGTXKEKQEQPHQTOGCNRNCPFGUGTXKEKQ
EQTTGURQPFKGPVGTGUVCDNG\ECGNCXKUQFGUGTXKEKQ
EQPUWNVGNCUGEEKÉP/GPÐ5GTXKEKQ


 /CPWCNFGKPUVTWEEKQPGU

 #NOCEGPCOKGPVQFGURW¾UFGNCKPUVCNCEKÉP

2TQEGFKOKGPVQ
2QPICGPOCTEJCGNEQORTGUQTRQTGLGORNQFQUXGEGUCNCUGOCPCJCUVCSWGUGECNKGPVG

5KGNEQORTGUQTUGXCCCNOCEGPCTUKPHWPEKQPCTFGXG\GPEWCPFQVQOGNCUOGFKFCU
FGRTQVGEEKÉPSWGEQTTGURQPFCP%QPUWNVGC#VNCU%QREQ

 ,WGIQUFGUGTXKEKQ
UGTXKEGMKVU

&GUETKREKÉP
5GGPEWGPVTCPFKURQPKDNGULWGIQUFGUGTXKEKQ
UGTXKEGMKVU SWGQHTGEGPNCUXGPVCLCUFGNCURKG\CU
QTKIKPCNGUFG#VNCU%QREQ[CNOKUOQVKGORQOCPVKGPGPDCLQUWRTGUWRWGUVQFGOCPVGPKOKGPVQ.QU
LWGIQUEQPVKGPGPVQFCUNCURKG\CUPGEGUCTKCURCTCGNUGTXKEKQ

5GTXKEGMKV RCTCHKNVTQUFGCEGKVG[HKNVTQUFGCKTG

5GTXKEGMKV RCTCHKNVTQUFGCEGKVG[HKNVTQUFGCKTG 0ÐOGTQFGRGFKFQ

/QFGNQU)#85&[)#85&RCTC 
JQTCUFGHWPEKQPCOKGPVQ
/QFGNQU)#85&[)#85&MKVFGHKNVTQ 
.QPI.KHGRCTCJQTCUFGHWPEKQPCOKGPVQ

HKNVTQFGCEGKVGRCTCJQTCUFG
HWPEKQPCOKGPVQ[HKNVTQUFGCKTGRCTCJQTCU
FGHWPEKQPCOKGPVQ

5GTXKEGMKV RCTCUGRCTCFQTFGCEGKVG

5GTXKEGMKV RCTCUGRCTCFQTFGCEGKVG 0ÐOGTQFGRGFKFQ

/QFGNQU)#85&[)#85& 

#VNCU%QREQ4QVQ+PLGEV(NWKF
%QPUWNVGVCODK¾PNCUGEEKÉP'URGEKHKECEKÉPFGCEGKVG

0ÐOGTQFGRGFKFQ
.CVCFGNKVTQU
75ICN+ORICN 
.CVCFGNKVTQU
75ICN+ORICN 
$CTTKNFGNKVTQU
75ICN+ORICN 

#VNCU%QREQ4QVQ:VGPF&WV[(NWKF
%QPUWNVGVCODK¾PNCUGEEKÉP'URGEKHKECEKÉPFGCEGKVG


/CPWCNFGKPUVTWEEKQPGU

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)#85&[)#85&

4GEQOGPFCEKQPGU
 0QGZVTCKICPWPECGNGNGOGPVQEQPGNEQORTGUQTGPOCTEJC
 2CTCTGFWEKTCNOÃPKOQGNVKGORQFGRCTCFCFGNEQORTGUQTECODKGGNGNGOGPVQUWEKQRQTQVTQPWGXQ
 &GUGEJGEWCNSWKGTGNGOGPVQSWGGUV¾FCÇCFQ

2TQEGFKOKGPVQ
 2CTGGNEQORTGUQT&GUEQPGEVGGNXQNVCLG
 5WGNVGNCUCDTC\CFGTCUFGNHKNVTQFGCKTG
#([GZVTCKICGNEQNGEVQTFGRQNXQ[GNGOGPVQHKNVTCPVGFG
CKTG.KORKGGNEQNGEVQT&GUGEJGGNGNGOGPVQHKNVTCPVG
 +PUVCNGGNPWGXQGNGOGPVQ[EQNGEVQT
 4GCTOGGNKPFKECFQTFGUGTXKEKQ
CRTGVCPFQGNDQVÉPGPGNGZVTGOQFGNEWGTRQ
 4GCTOGGNCXKUQFGUGTXKEKQFGNHKNVTQFGCKTG
7PCXG\TGCNK\CFCUVQFCUNCUCEEKQPGUFGUGTXKEKQEQPHQTOGCNRNCPFGUGTXKEKQEQTTGURQPFKGPVG
TGUVCDNG\ECGNCXKUQFGUGTXKEKQ
EQPUWNVGNCUGEEKÉP/GPÐ5GTXKEKQ

 4GHTKIGTCFQTGU

.KORKG\C
/CPVGPICNKORKQUNQUTGHTKIGTCFQTGURCTCTGVGPGTNCGHKEKGPEKCFGTGHTKIGTCEKÉP
'PEQORTGUQTGUTGHTKIGTCFQURQTCKTG


/CPWCNFGKPUVTWEEKQPGU

Ő 2CTGGNEQORTGUQTEKGTTGNCX±NXWNCFGUCNKFCFGCKTG[FGUEQPGEVGGNXQNVCLG
Ő %WDTCVQFCUNCURKG\CUFGDCLQFGNQUTGHTKIGTCFQTGU
Ő 'ZVTCKICGNFGHNGEVQTNCVGTCNSWGEWDTGGNEQORCTVKOGPVQFGNXGPVKNCFQT
Ő 'ZVTCKICVQFQGNRQNXQFGNQUTGHTKIGTCFQTGUEQPWPEGRKNNQFGEGTFCU%GRKNNGGPNCFKTGEEKÉPFGNCU
CNGVCUFGGPHTKCOKGPVQ
'NKOKPGVCODK¾PVQFQGNRQNXQFGNXGPVKNCFQTEQPWPEGRKNNQFGHKDTCU
Ő 5GIWKFCOGPVGUQRNGEQPCKTGEQORTKOKFQGPUGPVKFQQRWGUVQCNHNWLQPQTOCN7VKNKEGCKTGFGDCLC
RTGUKÉP5KGUPGEGUCTKQUGRWGFGKPETGOGPVCTNCRTGUKÉPJCUVCDCT
G
RUKI
Ő 5KGURTGEKUQSWGUGNKORKGPNQUTGHTKIGTCFQTGUEQPC[WFCFGWPFGVGTIGPVGEQPUWNVGC#VNCU%QREQ
Ő 4GVKTGGNRCÇQSWGJCWVKNK\CFQFWTCPVGNCNKORKG\C
Ő %QNQSWGGNFGHNGEVQTNCVGTCNSWGEWDTGGNEQORCTVKOGPVQFGNXGPVKNCFQT
'PEQORTGUQTGUTGHTKIGTCFQURQTCIWC
Ő %QPUWNVGC#VNCU%QREQRCTCNCNKORKG\C

 8±NXWNCFGUGIWTKFCF

2QUKEKÉPFGX±NXWNCFGUGIWTKFCF

/QFGNQU)#85&[)#85&

#EEKQPCOKGPVQ
#EEKQPGNCX±NXWNCFGUGIWTKFCFFGUCVQTPKNNCPFQNCVCRCWPCQFQUXWGNVCU[CVQTPKNN±PFQNCFGPWGXQ

2TWGDC
#PVGUFGSWKVCTNCX±NXWNCFGURTGUWTKEGGNEQORTGUQT%QPUWNVGNCUGEEKÉP5QNWEKÉPFGRTQDNGOCU
.CX±NXWNC
58RWGFGRTQDCTUGGPWPCNÃPGCFGCKTGEQORTKOKFQUGRCTCFC5KPQUGCDTGNCX±NXWNCCNC
RTGUKÉPKPFKECFCGPNCOKUOCEQPUWNVGC#VNCU%QREQ


 /CPWCNFGKPUVTWEEKQPGU

#XKUQ

0QUGRGTOKVGPKPIÐPCLWUVG0WPECFGLGHWPEKQPCTGNEQORTGUQTUKPNCX±NXWNCFG
UGIWTKFCF


/CPWCNFGKPUVTWEEKQPGU

 5QNWEKÉPFGRTQDNGOCU

 5QNWEKÉPFGRTQDNGOCU

#XKUQ

#PVGUFGGORG\CTGNVTCDCLQFGOCPVGPKOKGPVQTGRCTCEKÉPQCLWUVGRWNUGGNDQVÉP
FGRCTCFC[GURGTGJCUVCSWGUGRCTGGNEQORTGUQT
%KGTTGNCX±NXWNCFGUCNKFCFGCKTG[RWNUGGNDQVÉPFGRTWGDCUQDTGNQUFKURQUKVKXQU
GNGEVTÉPKEQUFGFTGPCLGFGCIWCJCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG
[NCX±NXWNCFGUCNKFCGUV¾EQORNGVCOGPVGFGURTGUWTK\CFQ
2WNUGGNDQVÉPFGRCTCFCFGGOGTIGPEKC[FGUEQPGEVGGNXQNVCLG
&GURTGUWTKEGGNEQORTGUQTCDTKGPFQGNVCRÉPFGNNGPCFQFGCEGKVGWPCXWGNVC
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

#PVGUFGNOCPVGPKOKGPVQOGE±PKEQ

2WNUGGNDQVÉPFGRTWGDCUQDTGNQUFKURQUKVKXQUGNGEVTÉPKEQUFGFTGPCLGFGCIWC
JCUVCSWGGNUKUVGOCFGCKTGGPVTGGNTGEGRVQTFGCKTG[NCX±NXWNCFGUCNKFCGUV¾
EQORNGVCOGPVGFGURTGUWTK\CFQ
2CTCEQPQEGTNCWDKECEKÉPFGNQUEQORQPGPVGUEQPUWNVGNCUGEEKÉP5KUVGOCFG
EQPFGPUCFQ

#PVGUFGNOCPVGPKOKGPVQGN¾EVTKEQ

'URGTGWPOÃPKOQFGOKPWVQUCPVGUFGGORG\CTEWCNSWKGTTGRCTCEKÉPGN¾EVTKEC[C
SWGWPCXG\FGUEQPGEVCFQGNXQNVCLGNQUEQPFGPUCFQTGUFGNCWPKFCFFGTGIWNCEKÉP
FGXGNQEKFCF[CTTCPSWGTGVKGPGPNCCNVCVGPUKÉPFWTCPVGOKPWVQUO±U

(CNNQU[UQNWEKQPGU
5KGN.'&FGCNCTOCGUV±GPEGPFKFQQRCTRCFGCEQPUWNVGNCUUGEEKQPGU/GPÐ&CVQUFGGUVCFQ[/GPÐ
5GTXKEKQ


 /CPWCNFGKPUVTWEEKQPGU

 %QPFKEKÉP (CNNQ 5QNWEKÉP

'NUGRCTCFQTFGEQPFGPUCFQPQ 6WDQHNGZKDNGFGFGUECTIC %QORTWGDG[TGRCTGUGIÐP
FGUECTICEQPFGPUCFQFWTCPVG CVCUECFQ UGCPGEGUCTKQ
NCECTIC

 %QPFKEKÉP (CNNQ 5QNWEKÉP

.CUCNKFCFGCKTGFGNEQORTGUQT 'NEQPUWOQFGCKTGGZEGFGGN %QORTWGDGGNGSWKRQ
QNCRTGUKÉPGUKPHGTKQTCNQ UWOKPKUVTQFGNEQORTGUQT EQPGEVCFQ
PQTOCN
'NGOGPVQHKNVTCPVGCKTGQDUVTWKFQ %CODKGGNGNGOGPVQHKNVTCPVG
#XGTKCFCNCX±NXWNCFGUQNGPQKFG 4GGORNCEGNCX±NXWNC
5GRCTCFQTFGCEGKVGQDUVTWKFQ *CICSWGUGTGGORNCEGGN
GNGOGPVQ
(WICUFGCKTG *CICSWGTGRCTGPNCUHWICU
.CX±NXWNCFGUGIWTKFCFVKGPG 5WUVKVW[CNCX±NXWNC
HWICU
#XGTKCFQGNGNGOGPVQ %QPUWNVGCN%GPVTQFG
EQORTGUQT 5GTXKEKQC%NKGPVGUFG#VNCU
%QREQ

 %QPFKEKÉP (CNNQ 5QNWEKÉP

'ZRWNUKQPGUFGNCX±NXWNCFG
UGIWTKFCF
#XGTÃCFGNCX±NXWNCFGRTGUKÉP
OÃPKOC
#VCUECFQGNGNGOGPVQUGRCTCFQT 4GGORNCEGGNGNGOGPVQ
FGCEGKVG
5GRCTCFQTFGCEGKVGQDUVTWKFQ
#XGTKCFCNCX±NXWNCFG
UGIWTKFCF
'PEQORTGUQTGU(WNN(GCVWTG
VWDGTÃCFGNUGECFQTQDVWTCFC
FGDKFQCNCHQTOCEKÉPFGJKGNQ
%QORTWGDG[TGGORNCEGNCU
RKG\CUFGHGEVWQUCU
*CICSWGUGTGGORNCEGGN
GNGOGPVQ
%QORTWGDGNCX±NXWNC
4GGORNCEGUKGUPGEGUCTKQ
2ÉPICUGGPEQPVCEVQEQP
#VNCU%QREQRCTCSWGTGXKUG
GNUKUVGOCFGTGHTKIGTCEKÉP


/CPWCNFGKPUVTWEEKQPGU
 %QPFKEKÉP
6GORGTCVWTCFGUCNKFCFGN
GNGOGPVQEQORTGUQTQFGNCKTG
FGUWOKPKUVTQUWRGTKQTCNQ
PQTOCN
(CNNQ
0KXGNFGCEGKVGFGOCUKCFQDCLQ
'PEQORTGUQTGUTGHTKIGTCFQU
RQTCKTGCKTGFGTGHTKIGTCEKÉP
KPUWHKEKGPVGQFGOCUKCFQCNVCNC
VGORGTCVWTCFGNOKUOQ
'PEQORTGUQTGUTGHTKIGTCFQU
RQTCIWCHNWLQFGCIWCFG
TGHTKIGTCEKÉPFGOCUKCFQDCLQ
'PEQORTGUQTGUTGHTKIGTCFQU
RQTCIWCQDUVTWEEKÉPGPGN
UKUVGOCFGCIWCFG
TGHTKIGTCEKÉP
#VCUECFQGNTGHTKIGTCFQTFG
CEGKVG
/CNHWPEKQPCOKGPVQFGNC
X±NXWNCFGFGTKXCEKÉP
4GHTKIGTCFQTFGCKTGQDVWTCFQ
#XGTKCFQGNGNGOGPVQ
EQORTGUQT
5QNWEKÉP
%QORTWGDG[EQTTKLC
$WUSWGNCTGUVTKEEKÉPFGNCKTG
FGTGHTKIGTCEKÉPQOGLQTGNC
XGPVKNCEKÉPFGNCUCNC'XKVG
NCTGEKTEWNCEKÉPFGNCKTGFG
TGHTKIGTCEKÉP5KUGJCNNC
KPUVCNCFQWPXGPVKNCFQTGPNC
UCNCFGNEQORTGUQT
EQORTWGDGUWECRCEKFCF
#WOGPVGGNHNWLQ
%QPUWNVGCN%GPVTQFG
5GTXKEKQC%NKGPVGUFG#VNCU
%QREQ
.KORKGGNTGHTKIGTCFQT
*CICSWGUGRTWGDGNC
X±NXWNC
.KORKGGNTGHTKIGTCFQT
%QPUWNVGCN%GPVTQFG
5GTXKEKQC%NKGPVGUFG#VNCU
%QREQ

 /CPWCNFGKPUVTWEEKQPGU

 &CVQUV¾EPKEQU

 +PFKECEKQPGUGPGNFKURNC[

&KURNC[FGNTGIWNCFQT'NGMVTQPKMQP

4GIWNCFQT'NGMVTQPKMQP++

+ORQTVCPVG

.CUNGEVWTCUOGPEKQPCFCUCPVGTKQTOGPVGUQPX±NKFCUDCLQNCUEQPFKEKQPGUFG
TGHGTGPEKC
X¾CUGNCUGEEKÉP%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGU

4GHGTGPEKC .GEVWTC
2TGUKÉPFGUCNKFCFG &GRGPFGFGNRWPVQFGCLWUVG
RTGUKÉPFGUGCFCFGNCTGF
CKTG
6GORGTCVWTCFGUCNKFC #RTQZu%
u(UWRGTKQTCNCVGORGTCVWTCCODKGPVG
FGNGNGOGPVQ
EQORTGUQT
6GORGTCVWTCFGNRWPVQ #RTQZu%
u(
FGTQEÃQ
6GORGTCVWTCFGUCNKFC #RTQZu%
u(
FGNCIWCFG
TGHTKIGTCEKÉP

EQORTGUQTGU
TGHTKIGTCFQURQTCIWC


/CPWCNFGKPUVTWEEKQPGU

 6COCÇQFGECDNGUGN¾EVTKEQU

#VGPEKÉP

.CUTGINCUNQECNGUUKIWGPGPXKIQTUKUQPO±UGUVTKEVCUSWGNQUXCNQTGURTQRWGUVQU
CDCLQ
.CECÃFCFGXQNVCLGPQFGDGGZEGFGTWPFGNXQNVCLGPQOKPCN2WGFGSWGUGC
PGEGUCTKQWVKNK\CTECDNGUFGVCOCÇQOC[QTSWGNQUGURGEKHKECFQUCHKPFGEWORNKTEQP
GUVCGZKIGPEKC
7UGNCGPVTCFCRCTCECDNGQTKIKPCN%QPUWNVGNCUGEEKÉP&KDWLQUFGFKOGPUKQPGU
'NXQNVCLGGPNQUDQTPGUFGNEQORTGUQTPQRWGFGFGUXKCTUGGPO±UFGWPFGN
XQNVCLGPQOKPCN

6COCÇQFGECDNGU
/ÃPKOQRCTCECDNGUFGCNKOGPVCEKÉPFGXCTKQUPÐENGQUCu%
u(

)#85& )#85& )#85& )#85&

9QTMRNCEG 9QTMRNCEG (WNN(GCVWTG (WNN(GCVWTG
%CDNGGP %CDNGCNCKTG %CDNGGP %CDNGCNCKTG
EQPFWEVQ NKDTG EQPFWEVQ NKDTG
(TGEWGPEKC 8QNVCLG 6COCÇQFG 6COCÇQFG 6COCÇQFG 6COCÇQFG

*\
8 ECDNGU ECDNGU ECDNGU ECDNGU
+'% OO OO OO OO
  Z Z Z Z
Z Z
  Z Z Z Z
  Z Z Z Z
Z Z

/ÃPKOQRCTCECDNGUFGCNKOGPVCEKÉPFGXCTKQUPÐENGQUCu%
u(

)#85& )#85& )#85& )#85&

9QTMRNCEG 9QTMRNCEG (WNN(GCVWTG (WNN(GCVWTG
%CDNGGP %CDNGCNCKTG %CDNGGP %CDNGCNCKTG
EQPFWEVQ NKDTG EQPFWEVQ NKDTG
(TGEWGPEKC 8QNVCLG 6COCÇQFG 6COCÇQFG 6COCÇQFG 6COCÇQFG

*\
8 ECDNGU ECDNGU ECDNGU ECDNGU
+'% OO OO OO OO
  Z Z Z Z
Z Z
  Z Z Z Z
Z Z
  Z Z Z Z
Z Z


 /CPWCNFGKPUVTWEEKQPGU

/ÃPKOQRCTCECDNGUFGCNKOGPVCEKÉPFGXCTKQUPÐENGQUCu%
u(

)#85& )#85& )#85& )#85&

9QTMRNCEG (WNN(GCVWTG 9QTMRNCEG (WNN(GCVWTG
%CDNGGP %CDNGGP %CDNGGP %CDNGGP
EQPFWEVQ EQPFWEVQ EQPFWEVQ EQPFWEVQ
(TGEWGPEKC 8QNVCLG 6COCÇQFG 6COCÇQFG 6COCÇQFG 6COCÇQFG

*\
8 ECDNGU ECDNGU ECDNGU ECDNGU
%5#7. #9) #9) #9) #9)
  Z#9) Z#9) Z#9) Z#9)
Z#9) Z#9) Z#9) Z#9)
  Z#9) Z#9) Z#9) Z#9)
Z#9) Z#9) Z#9) Z#9)

 #LWUVGUFGNFKU[WPVQTFGNOQVQTFGNXGPVKNCFQT

&KU[WPVQT

)#85& )#85&
(TGEWGPEKC
*\ 8QNVCLG
8 &KU[WPVQTFGNOQVQT &KU[WPVQTFGNOQVQT
FGNXGPVKNCFQT3
# FGNXGPVKNCFQT3
#
+'%
   
   
   
%5#7.
   
   

 #LWUVGUFGNQUHWUKDNGU

(WUKDNGU
2CTCNCUWPKFCFGU+'%
%QPUWNVGNCUGEEKÉP6COCÇQFGECDNGUGN¾EVTKEQU[NCVCDNCSWGUGOWGUVTCCEQPVKPWCEKÉPRCTCEQPQEGT
GNXCNQTEQTTGEVQFGHWUKDNGU

6COCÇQFGECDNGU (WUKDNG
OO
#
 
 
 
 
 


/CPWCNFGKPUVTWEEKQPGU

2CTCNCUWPKFCFGU%5#7.

)#85& )#85&(WNN )#85& )#85&(WNN

9QTMRNCEG (GCVWTG 9QTMRNCEG (GCVWTG
(TGEWGPEK 8QNVCLG (WUKDNGU (WUKDNGU (WUKDNGU (WUKDNGU
C
*\
8
%5#7. %5#*4% %5#*4% %5#*4% %5#*4%
(QTOWNCTKQ++7. (QTOWNCTKQ++7. (QTOWNCTKQ++7. (QTOWNCTKQ++7.
%NCUG %NCUG %NCUG %NCUG
     
     

 %QPFKEKQPGUFGTGHGTGPEKC[NKOKVCEKQPGU

%QPFKEKQPGUFGTGHGTGPEKC

2TGUKÉP
CDUQNWVCFGGPVTCFCFGCKTG DCT 
2TGUKÉP
CDUQNWVCFGGPVTCFCFGCKTG RUK 
6GORGTCVWTCFGGPVTCFCFGCKTG u% 
6GORGTCVWTCFGGPVTCFCFGCKTG u( 
*WOGFCFTGNCVKXC  
2TGUKÉPFGVTCDCLQRCTC)#[)#85& %QPUWNVGNCUGEEKÉP&CVQUFGN
EQORTGUQT

'PWPKFCFGUTGHTKIGTCFCURQTCIWCVCODK¾P
6GORGTCVWTCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP u% 
6GORGTCVWTCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP u( 

.ÃOKVGU

2TGUKÉPFGVTCDCLQO±ZKOCRCTC)#C)#85& %QPUWNVGNCUGEEKÉP&CVQUFGN
EQORTGUQT
2TGUKÉPOÃPKOCFGVTCDCLQ DCT
G 
2TGUKÉPOÃPKOCFGVTCDCLQ RUKI 
6GORGTCVWTCO±ZKOCFGGPVTCFCFGCKTG u% 
6GORGTCVWTCO±ZKOCFGGPVTCFCFGCKTG u( 
6GORGTCVWTCOÃPKOCFGGPVTCFCFGCKTG u% 
6GORGTCVWTCOÃPKOCFGGPVTCFCFGCKTG u( 


 /CPWCNFGKPUVTWEEKQPGU

'PWPKFCFGUTGHTKIGTCFCURQTCIWCVCODK¾P
6GORGTCVWTCO±ZKOCFGUCNKFCFGNCIWCFG u% 
TGHTKIGTCEKÉP
6GORGTCVWTCO±ZKOCFGUCNKFCFGNCIWCFG u( 
TGHTKIGTCEKÉP
2TGUKÉPO±ZKOCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP DCT
G 
2TGUKÉPO±ZKOCFGGPVTCFCFGNCIWCFGTGHTKIGTCEKÉP RUKI 

 &CVQUFGNEQORTGUQT

0QVC

6QFQUNQUFCVQUGURGEKHKECFQUCEQPVKPWCEKÉPUGCRNKECPDCLQEQPFKEKQPGUFG
TGHGTGPEKCEQPUWNVGNCUGEEKÉP%QPFKEKQPGUFGTGHGTGPEKC[NÃOKVGU

)#85&

7PKFCF DCT DCT DCT

RUK RUK RUK
(TGEWGPEKC *\   
  
0ÐOGTQFGGVCRCUFGEQORTGUKÉP   
2TGUKÉPGHGEVKXCPQTOCNFGVTCDCLQ DCT
G   
2TGUKÉPGHGEVKXCPQTOCNFGVTCDCLQ RUKI   
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ DCT
G   
9QTMRNCEG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ RUKI   
9QTMRNCEG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ DCT
G   
9QTMRNCEG(WNN(GCVWTG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ RUKI   
9QTMRNCEG(WNN(GCVWTG
8GNQEKFCFO±ZKOCFGNGLGFGNOQVQT TRO   
8GNQEKFCFOÃPKOCFGNGLGFGNOQVQT TRO   
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u%   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u(   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u%   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
(WNN(GCVWTG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u(   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
(WNN(GCVWTG


/CPWCNFGKPUVTWEEKQPGU

7PKFCF DCT DCT DCT

RUK RUK RUK
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
6KRQFGTGHTKIGTCPVG9QTMRNCEG(WNN 4C 4C 4C
(GCVWTG
%CPVKFCFVQVCN
TGHTKIGTCPVG9QTMRNCEG MI   
(WNN(GCVWTG
%CPVKFCFVQVCN
TGHTKIGTCPVG9QTMRNCEG ND   
(WNN(GCVWTG
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP NOKP   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
KPHGTKQTCu%[WPCWOGPVQFG
VGORGTCVWTCFGu%WPKFCFGU
TGHTKIGTCFCURQTCIWC


 /CPWCNFGKPUVTWEEKQPGU

7PKFCF DCT DCT DCT

RUK RUK RUK
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP EHO   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
KPHGTKQTCu([WPCWOGPVQFG
VGORGTCVWTCFGu(WPKFCFGU
TGHTKIGTCFCURQTCIWC
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP NOKP   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
GPVTG[u%[WPCWOGPVQFG
VGORGTCVWTCFGu%WPKFCFGU
TGHTKIGTCFCURQTCIWC
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP EHO   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
GPVTG[u([WPCWOGPVQFG
VGORGTCVWTCFGu(WPKFCFGU
TGHTKIGTCFCURQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ N   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ 75ICN   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ +ORICN   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ EWHV   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ N   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ 75ICN   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ +ORICN   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ EWHV   
RQTCIWC
0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\TGHTKIGTCFCURQTCKTG
EQPHQTOGC
+51

0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\TGHTKIGTCFCURQTCKTG
EQPHQTOGC
+51

0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\TGHTKIGTCFCURQTCIWC
EQPHQTOGC
+51

0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\TGHTKIGTCFCURQTCIWC
EQPHQTOGC
+51



/CPWCNFGKPUVTWEEKQPGU

)#85&

7PKFCF DCT DCT DCT

RUK RUK RUK
(TGEWGPEKC *\   
  
0ÐOGTQFGGVCRCUFGEQORTGUKÉP   
2TGUKÉPGHGEVKXCPQTOCNFGVTCDCLQ DCT
G   
2TGUKÉPGHGEVKXCPQTOCNFGVTCDCLQ RUKI   
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ DCT
G   
9QTMRNCEG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ RUKI   
9QTMRNCEG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ DCT
G   
9QTMRNCEG(WNN(GCVWTG
2TGUKÉPGHGEVKXCO±ZKOCFGVTCDCLQ RUKI   
9QTMRNCEG(WNN(GCVWTG
8GNQEKFCFO±ZKOCFGNGLGFGNOQVQT TRO   
8GNQEKFCFOÃPKOCFGNGLGFGNOQVQT TRO   
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u%   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u(   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u%   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
(WNN(GCVWTG
6GORGTCVWTCFGNCKTGSWGUCNGFGNC u(   
X±NXWNCFGUCNKFC
CRTQZ9QTMRNCEG
(WNN(GCVWTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCKTG
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCIWC


 /CPWCNFGKPUVTWEEKQPGU

7PKFCF DCT DCT DCT

RUK RUK RUK
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ M9   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG
*\ JR   
TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN M9   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
2QVGPEKCCNKOGPVCFC9QTMRNCEG(WNN JR   
(GCVWTG
*\TGHTKIGTCFQRQTCIWC
6KRQFGTGHTKIGTCPVG9QTMRNCEG(WNN 4C 4C 4C
(GCVWTG
%CPVKFCFVQVCN
TGHTKIGTCPVG9QTMRNCEG MI   
(WNN(GCVWTG
%CPVKFCFVQVCN
TGHTKIGTCPVG9QTMRNCEG ND   
(WNN(GCVWTG
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP NOKP   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
KPHGTKQTCu%[WPCWOGPVQFG
VGORGTCVWTCFGu%WPKFCFGU
TGHTKIGTCFCURQTCIWC
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP EHO   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
KPHGTKQTCu([WPCWOGPVQFG
VGORGTCVWTCFGu(WPKFCFGU
TGHTKIGTCFCURQTCIWC
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP NOKP   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
GPVTG[u%[WPCWOGPVQFG
VGORGTCVWTCFGu%WPKFCFGU
TGHTKIGTCFCURQTCIWC
%QPUWOQFGCIWCFGTGHTKIGTCEKÉP
EQP EHO   
WPCVGORGTCVWTCFGGPVTCFCFGNCIWC
GPVTG[u([WPCWOGPVQFG
VGORGTCVWTCFGu(WPKFCFGU
TGHTKIGTCFCURQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ N   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ 75ICN   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ +ORICN   
RQTCKTG
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ EWHV   
RQTCKTG


/CPWCNFGKPUVTWEEKQPGU

7PKFCF DCT DCT DCT

RUK RUK RUK
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ N   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ 75ICN   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ +ORICN   
RQTCIWC
%CRCEKFCFFGCEGKVGCRTQZ
TGHTKIGTCFQ EWHV   
RQTCIWC
0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\
EQPHQTOGC+51

0KXGNFGRTGUKÉPCEÐUVKECXCTKCPVGUFG F$
#   
*\
EQPHQTOGC+51



 /CPWCNFGKPUVTWEEKQPGU

 +PUVTWEEKQPGURCTCGNWUQFGNFGRÉUKVQFGCKTG

 +PUVTWEEKQPGUFGNFGRÉUKVQFGCKTG

+PUVTWEEKQPGU

 'UVGTGEKRKGPVGRWGFGEQPVGPGTCKTGRTGUWTK\CFQVGPICGPEWGPVCGNRGNKITQRQVGPEKCN
SWGGUVQUWRQPGUKPQNQWVKNK\CEQTTGEVCOGPVG
 'UVGTGEKRKGPVGUGWUCT±ÐPKECOGPVGGPECNKFCFFGUGRCTCFQTFGCKTGEQORTKOKFQCEGKVG
[HWPEKQPCT±FGPVTQFGNQUNÃOKVGUGURGEKHKECFQUGPNCRNCECFGFCVQU
 0QFGDGOQFKHKECTGUVGTGEKRKGPVGEQPRTQEGFKOKGPVQOGE±PKEQCNIWPQ[CUGC
UQNFCPFQVCNCFTCPFQQEWCNSWKGTQVTQO¾VQFQUKPGNRGTOKUQGUETKVQFGNHCDTKECPVG
 5GKPFKECT±PENCTCOGPVGNCRTGUKÉP[VGORGTCVWTCFGGUVGTGEKRKGPVG
 .CX±NXWNCFGUGIWTKFCFFGDGEQTTGURQPFGTEQPRKEQUVTCPUKVQTKQUFGRTGUKÉPFG
XGEGUNCO±ZKOCRTGUKÉPRGTOKUKDNGFGVTCDCLQ&GDGICTCPVK\CTSWGNCRTGUKÉPPQ
GZEGFGT±RGTOCPGPVGOGPVGNCO±ZKOCRTGUKÉPRGTOKUKDNGFGVTCDCLQFGNTGEKRKGPVG
 7VKNKEGUÉNQGNCEGKVGGURGEKHKECFQRQTGNHCDTKECPVG
 'UVGTGEKRKGPVGUGJCFKUGÇCFQ[HCDTKECFQEQPGNHKPFGICTCPVK\CTWPCXKFCFGUGTXKEKQ
FGO±UFGCÇQU[WPPÐOGTQKPHKPKVQFGEKENQUFGECTICFGRTGUKÉP2QTNQVCPVQPQ
JC[PGEGUKFCFKORNÃEKVCFGTGCNK\CTKPURGEEKQPGUFGUGTXKEKQFGNTGEKRKGPVGUK¾UVGUG
WVKNK\CFGPVTQFGNQUNÃOKVGUFGFKUGÇQ[NQUHKPGUFGWUQRTGXKUVQU0QQDUVCPVGGU
RQUKDNGSWGNCNGIKUNCEKÉPFGECFCRCÃUQDNKIWGCTGCNK\CTKPURGEEKQPGUFGUGTXKEKQ
 5GWUCT±PÐPKECOGPVGRGTPQUQTKIKPCNGUFGURW¾UFGCDTKTRCTCWPCKPURGEEKÉP&GDGT±
EQPUKFGTCTUGGNRCTO±ZKOQRCTCRGTPQU/0O
NDHHV

RCTCRGTPQU/0O
NDHHV



/CPWCNFGKPUVTWEEKQPGU

 2'&

 &KTGEVKXCUFGNGSWKRQFGRTGUKÉP

%QORQPGPVGUUWLGVQUCNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP%'
%QORQPGPVGUUWLGVQUCNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP%'UWRGTKQTGUQGSWKXCNGPVGUCNC
ECVGIQTÃC++

6KRQFGEQORTGUQT 0ÐOGTQFGRKG\C &GUETKREKÉP %NCUGFG2'&

/QFGNQU)#85&[)#  8±NXWNCFGUGIWTKFCF +8
85&
 8±NXWNCFGUGIWTKFCF +8
 8±NXWNCFGUGIWTKFCF +8
 8±NXWNCFGUGIWTKFCF +8
 4GEKRKGPVG ++

%NCUKHKECEKÉPIGPGTCN
.QUEQORTGUQTGUEWORNGPNC&KTGEVKXCUQDTGGSWKRQUCRTGUKÉP
2'&%CVGIQTÃC++


GA 75 VSD, GA 90 VSD

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.

Sólo hay una forma de conseguirlo – nosotros lo

llamamos simplemente el estilo Atlas Copco. Se basa en
la interacción, las relaciones a largo plazo y la
participación en los procesos, necesidades y objetivos de
los clientes. Significa que debemos ser flexibles para
adaptarnos a los variados requisitos de las personas que
confían en nosotros.

El compromiso con el negocio de nuestros clientes

dirige nuestro esfuerzo para aumentar su productividad
mediante mejores soluciones. Un compromiso que
comienza prestando pleno apoyo a los productos
existentes y mejorando las cosas continuamente. Pero no
nos detenemos aquí, concebimos y realizamos avances
tecnológicos a través de la innovación. No por simple
amor a la tecnología, sino pensando en los resultados y
en la tranquilidad de nuestros clientes.

Así es como Atlas Copco se esforzará por seguir siendo

la primera elección, atraer nuevos negocios y mantener
nuestra posición como líder de la industria.