̵͖͏͎͍͉͔͉̓͒͑̾͝ͅ͏͚͔͇͗͑͒͞͏͔͎͑̀̓͘E
̰̻͉͎͂͐ ͉͎͓̾͌̀͐ͅ ͇̀ ͏̼͈̈́ ͌̀ ̼͕͈̈́ ̻͕͎͐ ͎͓̻͕͈͎͒͊͑͒͌ ͕͈͈͎͊͑͒͌͜
̧͚͍͈͔̻͈͎͓̻͉͎͓̀͑͒̀͑͆͋̈́͒̀͛͒͆͐̈́͌̈́̀͐͒͂̈́͏͉͈͂̀͑̾̀͐̀͒͆͐
̻̈́͌͗̈́͏͈͎͕̽͐͒͆͐͋͏͎͈͓͑͒͌̽͐͊̈́͏̻͎͓͔͎͐͒͛͏͎͓͌͏̼͈̈́͌̀
̼̀͌͏͕͈̈́͒̀͑͒̀PP
̷͇͉͆͋͐͝ ̢͌̀͒͏̼͍͈͎͓͒̈́͑͒͐̓͆͂̾̈́͐͑͌̀͏͎͚͎͓͔͎͋͊͂͆͑͆͐͒͛͏͎͓͌
͑̈́̈́͏͎͓͚̻͈̾͒͗͑͆͆̀͑͒̀͑͆̀͌͋̈́͑̀͑͒͆͌̈́͑͒̾̀͋̀͂̈́͏̼͎͋̀͒͐
͉͈͎͔͎̀͑͒͛͏͎͌͏̼͈͓͍͇̈́͌̀̀͆̈́̾
̢̈́͏̧͈͚͚̻͎͔͎͑͋͐̀͑͒̀͑͆̀͌͋̈́͑̀͑͒͛͏͎͉͈̻͈͌̀͒͆́͑͆̈́͑͒͌͜
͏̼͈͈͎͈͚̈́͌̀̈́̾͌̀͒͊͂͒̈́͏͎PP
̷͇͉͆͋͐͝ ̥̻̻͈͎͎͇͇̻͚̼͔͎͌͆́͑͆̈́͑͒͌͒̈́͒͆̈́̾͌͗̀͌̀͛͜͏͎͌
̻̻͊͊͆͐͋͏͉̀͐͏̼͈͕̈́͌̀͏͈͎͎͈͇̼͈̻͎̻͎͆͑͋͆̈́̾͌̀͐̈́͌̓͋̈́͑͐͒͐
͚͍͎̀͛͊ ͇͋͌͝͏̓
̨͇͔͎͓͔͎͐̓͒͋̀̓͘͝
̤͈̀ ͒͆͌ ͍͔̻͈̈́̀͑͊͑͆ ͚̈́͌͐ ͎͑͗͑͒͛ ͒͏͚͎͓ ͈͎͓͊̈́͒͏͂̾̀͐ ͒͆͐ ͓͉͓͑͑̈́̽͐
͏̼͈̻͈̼͕͈̼͈̼͎͍̈́͆́͑͆̈́͑͒͌͌̀̈́͌̀͌̈́͌̓̈́̓̈́͂͋͌̈́̀̈́͜͏͈͚͑͋
̥͈͎̈́̓̽̀̈́͏͈͚͉̻͑͋͐͑͒͆͌͒͗̈́͏͈͎͕͎͓͓͉͓͕̽͒͑͑̈́̽͐͏͈̻͈͈̈́̈́͒̀͋̀ͅ
̈́̀͏͉̽͏͎͉͇͑̀͂͗͂̽̀̀͏͎̼͛̀͏̀͏̼͈͎͓̻͈͈̈́͒̀͌͒͊̀͌̀̈́̾͌̀
͎͈͕͕͈̼͉͈͉͉͓̼̤͈̀͌͒̾͑͒̀͑̈́̓̀͑͋͌̀̀̀͒̀͑̈́̀͑͋͌̀·͓͚͈͎͈̀͒̀̀͒͛͌͒̀
͍͒̀̈́̽͐
■
̬͈̀ ̻͕͈̈́͊͑͒͆ ͚̀͑͒̀͑͆ ͍͋̈́͒̀͛ ͒͆͐ ̾͑͗ ͓͊̈́͏̻͐ ͎͓͒ ͎͓͈͎͌͒͊̀͛
͉͈̀ ͎͓͒ ͎͕͎͓͒̾ ͒͆͐ ͉͎͓̾͌̀͐ͅ ͉͈̀ ͍͋̈́͒̀͛ ͒͆͐ ͈͔̻͈̈́͌̈́̀͐ ͎͓͒ ̻͉͎͓͂
̈́͏͉͈̻͂̀͑̾̀͐̀͒͆͐̈́͌͗̈́͏͈͎͕͎͓͓̽͐͒͑͏͒̀͏͈͎͛ ͇͋͌͝͏̓D
■
̛̻͎͈̻͓͌̀͌͂͋̀̈́͌͗͑͒͆͌̾͑͗͊̈́͏̻͎͓͎͓͒̈́̾͊ ͇͋͌͝͏̓E
■
̲̈́̈́͏͎͓̻͕͈͚̾͒͗͑͆͆̈́͊͑͒͆̀͑͒̀͑͆͒͗͌PP͓̻̓̈́͌͏͕͈̈́
͓͑͒͆͌̾͑͗͊̈́͏̻͎͓͎͓͒̈́̾͊͏̼͈͉̻͓̈́͑͒͆͌͒͗͊̈́͏̻͈͌̀͂̾͌̈́
̼̻͎͈͌̀͌͂͋̀ ͇͋͌͝͏̓F
̷͇͇͓͑͆́͐͋
■
̲̈́̈́͏͎͓͓͉͓͎͎͇͇͈͈̾͒͗͑͆͆͑͑̈́̽͒̈́͒͆̈́̾͑̈́͋̀͌͆͑̾̓̀̈́͑͒͌͜
͈͋̀͂̈́͏͈͉͈̻̽͐̽͑̈́͋̀͊͊͆͋͆̈́͏͈͂͏͔͚͇̼̀͋̈́͌͆͑͆͏̼͈̈́͌̀
͍͔͈̼͉͚̈́̀͑̀͊͑͒̈́̾͌̀͐̀͊͐̀̈́͏͈͚̻͈͑͋͐͒͆͐́͑͆͐̈́͑͒͌͜
■
̬͉͆͌͊̈́̾͑̈́͒̈́̈́͏͈͉̻͉̻̻͋͆͒͒͆͌͒͗́͑͆
̶͕͉͔͉͕͉͓͔͖͔͇͖͓͇͑͑͊̿͌̀͋͌͝͏͇͓
̷͇͉͆͋͐͝ ̤͈͎͎͇̼̻͈͕̀͒͆͌͒͒͆͑͆͒͆͐́͑͆͐̈́͑͒͌͜͏͈͎͎͈͆͑͋̽͑͒̈́
͏͎͓͈͉̻̻͈̯͈͔͑͒̀͒̈́͒͂͌͒̀͋͆̀͌̈́͏̼͈͔̻͈͎͐̈́͌̈́̈́͐͋͏̼͕͎͓̈́̾͌̀͌
͉͎͔͒̈́͏̼͉̼͐̀͋͐
̶͕͉͔͉͕͉͓͔͉͓͇͔͕͑͑͊̿̈́̾͋͟͏͇͋͌͝͏̓
̰͏͎͑̀͏͚͋͑͒̈́ ͉͈̀ ͎͎͇͒̈́͒̽͑͒̈́ ͒͆ ̻́͑͆ ͈̈́͑͒͌͜ ͎͑͒ ͋͏͎͈͚͑͒͌ ̼͋͏͎͐
͇̼͎͎͇̼͒͆͐͑͆͐͒͒͆͑͆͐
■
̬͆ ͉͋̀͂͑̈́͒̈́͜ ͎͒ ͉͈͎̀͊̓͜ ͈͉͎͓̓͒͛ ͉͈̀ ͋͆͌ ͎͒ ̈́͏̻͑̈́͒̈́ ̻͌͗ ͚̀
͉͎͔͒̈́͏̼͉̼̲͎͓͎͎͇̼͎͓͚͉̻͔͎͐̀͋͐͒͐͒̈́͒͆͋͌͐̀͒͗͛͏͎͓͌͐
͎͎͉͈͎͈͎͓͔͎̓͆͂̽͑͒̈́͒̀͊̓͑͒͐̾͑͗͂͗͌̾̈́͐͒͛͜͏͎͓͌͏͎͎͉͎͓͐͒͒̾
̳͎͉͈͎͑͛͌̓̈́͑͆͐̀͊̓͜͏̼͈͉͇̼͈̈́͌̀̈́͂̀͒̀͑͒̀̈́̾͒͑͑͒̈́͌̀͋͆͌͜
͉͎͓̻͉̼͉͓͚͎̻͈͎͓̀͋͑̈́̀͌͌̀̀͒͑͆͋̈́̾͒͆͐́͑͆͐̈́͑͒͌̽͒͜
͔͎͛͏͎͓͌
■
̲͎͓͓̼͎͓͉͈̻͉͎͓͒͐̈́̈́͌̓͋͌͐͋̈́͊̀̾̓̀͂͐̈́͏͂̀͑̾̀͐
͎͎͈͎͓͑͒̈́͂̀͌̽͑͒̈́͒͐̀͏͎͉͈͉͎͓͎͉͋͛͐͒͗͌͊̀̓̾͗͌͋̈́̀͒͑͛
͈͈͉͚͑͊͌͆͐
̵͞͏͇͔͉͕͉͓͔͖͔͇͖͓͇͆͌̀͋͌͝͏̓
■
̳̻̣̼͈͉͎͓͑͆͊̈́͌̀̾̓̀͒͛
■
̲͚͎͔͎͈̻͛͌̓̈́͑͆͋͌͑͛͋͗͌̀͋̈́͒̓͂͏̀͋͋̀͑͛͌̓̈́͑͆͐
%1̪͔̼̀
%8̬͊̈́
*1<(̪̾͒͏͈͎͉͈͌̀͏̻͈͎͑͌
̷͇͉͆͋͐͝ ̛͕͎͊̈́͂͐ ͒͆͐ ͎͈͚̈́͒͋͒͆͒̀͐ ͈͎͓͊̈́͒͏͂̾̀͐ ̞͒̀͌ ͑͒͆͌ ̼͈͍͌̓̈́͆
͒͆͐ ͓͉͓͑͑̈́̽͐ ͔͈̈́͋̀͌̾̈́͒̀ͅ
—…‹‹
“‹†‚„
̽
“
͚͒͒̈́ ͆ ͓͉͓͑͑̈́̽ ̓̈́͌
̢͈̻͓̼͎͓̼͓͉͓͚̈́̾͌̀͑͗͑͒͑͌̓̈́̓̈́͋͌͆͑͌̓͑͒̈́͒͆͑͑̈́̽̀͒͆͌
̀͏͎͕̽͏͎͉͈̼͍͎͓͉̈́͛͋̀͒͐̀̈́͊͂͒̈́͒͆͑͛͌̓̈́͑͆͒͆͊̈́͒͏͈͉͎͉͎͓͛̀͊͗̓̾
͎͉͓͎͎͓͑͒̓̾͒͒͏͎̈́͛͋̀͒͐
̥͇͔͉͕͉͓͔͖͔͇͖͓͗̓́͒͌̀
̢͎͓̼͓͉͓͚͎͉͓͎͎͓͑͌̓͑͒̈́͒͆͑͑̈́̽̀͒̓̾͒͒͏͎̈́͛͋̀͒͐
̰͈̼͚͉̻̻͈͉͈͔͈͑͒̈́̀͒͗͒͆́͑͆̈́͑͒͌̀̀̀͜͏̼͑͒̈́͒͆͌
̳͔͒͑͑̀͘
̦͈̼͓͉͓̬͆͋͐͑͒͆͑͑̈́̽͆͌͏͎͇͔͈͑̀̽͑̈́͒̈́͌̀̀̀͏̼͑̈́͒̈́͒͆
͓͉͓͎͕͎̻͚̻͑͑̈́̽͋͊̈́͛͌͒͐͒͆͌̀̈́͌͗
sv
ó
0RQWHULQJVDQYLVQLQJ
9LNWLJWDWWREVHUYHUD
6lNHUKHWVlNHUKHWHQYLGDQYlQGQLQJJDUDQWHUDVXQGHU
I|UXWVlWWQLQJ DWW LQVWDOODWLRQHQ KDU XWI|UWV NRUUHNW RFK L HQOLJKHW PHG
GHQQDPRQWHULQJVDQYLVQLQJ6NDGRURUVDNDGHDYIHODNWLJ
PRQWHULQJlUPRQW|UHQVDQVYDU
6HWLOOVnDQYlQGDUHQLQWHNRPPHUnWHONRPSRQHQWHUQDHIWHU
LQVWDOODWLRQ
(QKHWHQlUEDUDDYVHGGI|UDQYlQGQLQJXSSWLOO P|K
:
2PGXKDUHOHNWURQLVNDLPSODQWDW
(QKHWHQNDQLQQHKnOODSHUPDQHQWPDJQHWHUVRPNDQSnYHUND
HOHNWURQLVNDLPSODQWDWVRPWH[SDFHPDNHURFKLQVXOLQSXPSDU
+nOOFPPLQLPLDYVWnQGYLGLQVWDOODWLRQRPGXKDUHOHNWURQLVND
LPSODQWDW
(ODQVOXWQLQJInUHQGDVWXWI|UDVDYHQEHK|ULJIDFNPDQ
)|UHVNULIWHUQDIUnQGHQORNDODHOOHYHUDQW|UHQVNDOOI|OMDV
(QKHWHQ NUlYHU IDVW LQVWDOODWLRQ RFK PRQWHULQJ PHG OlPSOLJ EU\WDUH
HQOLJWLQVWDOODWLRQVDQYLVQLQJDUQD
$QVOXWQLQJVW\SDSSDUDWHQWLOOK|UVN\GGVNODVV ,RFKInUHQGDVW
DQYlQGDVPHGHQMRUGDGDQVOXWQLQJ
7LOOYHUNDUHQWDULQJHWDQVYDUI|UIHODNWLJIXQNWLRQHOOHUVNDGRU
RUVDNDGHDYIHODNWLJHOLQVWDOODWLRQ
0RQWHULQJ XQGHU ElQNVNLYD LQGXNWLRQVKlOO JnU EDUD DWW LQVWDOOHUD
|YHUOnGDHOOHUXJQPHGYHQWLODWLRQVIOlNW'HWInULQWHILQQDV
N\OVNnSGLVNPDVNLQXJQXWDQYHQWLODWLRQVIOlNWHOOHUWYlWWPDVNLQ
XQGHUKlOOHQ
8WVXJDYVWnQGHWPHOODQXWVXJRFKKlOOVNDPLQVWYDUDDQJLYHW
DYVWnQGLPRQWHULQJVDQYLVQLQJHQ
%lQNVNLYDSODQYnJUlWVWDELO)|OMLQVWUXNWLRQHUQDIUnQ
ElQNVNLYDQVWLOOYHUNDUH
■
%lQNVNLYDQ GX VND PRQWHUD KlOOHQ L VND NODUD EHODVWQLQJDU Sn FD
NJ)|UVWlUNElQNVNLYDQPHGWHPSHUDWXURFKYDWWHQWnOLJW
PDWHULDORPGHWEHK|YV
■
.RQWUROOHUDLQWHDWWKlOOHQlUSODQI|UUlQGHQVLWWHUL
*DUDQWLYLGIHODNWLJPRQWHULQJHOOHUDQVOXWQLQJJlOOHULQWH
SURGXNWJDUDQWLQ
$QYLVQLQJ cWJlUGHUSnDSSDUDWHQVLQVLGDLQNOXVLYHE\WHDY
VWU|PNDEHOInUHQGDVWXWI|UDVDYVlUVNLOWXWELOGDGSHUVRQDOIUnQ
.XQGWMlQVW
)|UEHUHGDVWRPPDUQDELOG
,QE\JJGDVNnSWnOWHPSHUDWXUHUSnXSSWLOO&
8WU\PPHDYOlJVQDVnJVSnQHQHIWHUXUVNlUQLQJVDUEHWHW
6NlU\WRUI|UVHJODPHGYlUPHEHVWlQGLJWPDWHULDO
0RQWHULQJSnOnGDELOG D
%lQNVNLYDGHQE|UKDHQWMRFNOHNSnPLQVW PP
9HQWLODWLRQDYVWnQGHWPHOODQElQNVNLYDRFKOnG|YHUGHOVNDYDUD
PP
$QYLVQLQJ $QYlQG HWW WUlK\OOSODQ RP OnGDQ LQQHKnOOHU PHWDOOGHODU
HOOHUVPnVSHWVLJDPHWDOOI|UHPnOVRPWH[JULOOVSHWWVRPEOLU
XSSYlUPGDDYOXIWFLUNXODWLRQHQIUnQKlOOYHQWLODWLRQHQ ILJ
+lOOHQKDUHQIOlNWSnXQGHUVLGDQ)|UYDUDLQWHVPnHOOHUVSHWVLJD
I|UHPnOSDSSHUHOOHUN|NVKDQGGXNDULOnGDQRPK\OOSODQVDNQDV
'HWNDQSnYHUNDN\OQLQJHQHOOHUVNDGDIOlNWHQRPQnJRWVXJVLQ
'HWVNDYDUDHWWPLQLPLDYVWnQGSnFPPHOODQOnGLQQHKnOOHWRFK
IOlNWLQVXJHW
0RQWHULQJ|YHUXJQELOGE
%lQNVNLYDGHQE|UKDHQWMRFNOHNSnPLQVW PP
$YVWnQGHWPHOODQElQNVNLYDRFKXJQVIURQWHQV|YHUGHOVNDYDUD
PP
$QYLVQLQJ 7LWWDLXJQHQVPRQWHULQJVDQYLVQLQJRPDYVWnQGHW
PHOODQKlOORFKXJQPnVWHYDUDVW|UUH
9HQWLODWLRQDYVWnQGHWPHOODQXJQRFKKlOOVNDYDUDPLQPP
$QYLVQLQJ ,QVWDOOHUDU GX KlOOHQ |YHU XJQ DY DQQDW PlUNH DQYlQG
WUlK\OOSODQ ELOG
9HQWLODWLRQELOG
+lOOHQNUlYHUDQJLYHQYHQWLODWLRQI|UDWWHQKHWHQVNDIXQJHUD
RUGHQWOLJW
9HQWLODWLRQHQ XQGHU HQKHWHQ NUlYHU EUD IULVNOXIWVLQWDJ Vn VWRPPHQ
PnVWHKDPDWFKDQGHXWIRUPQLQJ)|OMDQGHNUlYV
■
KnOOPLQLPLDYVWnQGHWPHOODQVWRPU\JJRFKYlJJRFKPHOODQ
ElQNVNLYDRFKOnG|YHUGHO ELOG D
■
GHWVNDILQQDVHQ|SSQLQJXSSWLOOSnVWRPU\JJHQ ELOG E
■
JnUGHWLQWHInWLOOPLQLPLDYVWnQGRP PPSnVWRPU\JJHQVn
PnVWHGXJ|UDHQ|SSQLQJSnXQGHUVLGDQ ELOG F
