50,2
3$
',5,6
&$/'$,$$*$6
$'$/7$35(66,21(
8QDRFFDVLRQHSHUODWXD$]LHQGD
4XHVWRFDWDORJRKDORVFRSRGLIDUWLFRQRVFHUHHDSSUH]]DUH
XQQXRYRSURGRWWRSHUXWLOL]]RLQGXVWULDOH
3URJHWWDWRSHURSHUDUHQHOSLHQRULVSHWWRGHOOHWHPDWLFKHGHOQRVWURWHPSR
HFRORJLDHQHUJLDVLFXUH]]DUHGGLWLYLWj
6LDPRFRQYLQWLFKHO¶XWLOL]]RGL
FRQWULEXLUjDPLJOLRUDUHODTXDOLWjGHOO¶DPELHQWHGHOODQRVWUDYLWD
IDUjULVSDUPLDUHHQHUJLDWLFRQVHQWLUjGLDXPHQWDUHLSUR¿WWLGHOODWXD$]LHQGD
,FRQWHQXWLGLTXHVWRFDWDORJRWLDLXWHUDQQRDFDSLUHHDSSUH]]DUHOHUDJLRQL
SHUFXLDEELDPRFRVWUXLWRTXHVWRSURGRWWR
&$5$77(5,67,&+(*(1(5$/,
qXQDLQQRYDWLYDFDOGDLDDJDVDFRQGHQVD]LRQHVLQWHVLGLXQSURJHWWRWHUPRWHFQLFREUHYHWWDWRGD
&20(;*52834XHVWRSURGRWWRqULYROWRHVFOXVLYDPHQWHDOODWXDD]LHQGDDWWLYLWDLQGXVWULDOLDUWLJLD
QDOLFRPPHUFLDOLDJULFROHHGRYXQTXHFLVLDODQHFHVVLWDGLULVFDOGDUHLVWDQWDQHDPHQWHLPSRUWDQWL
YROXPLG¶DFTXDDGDOWDWHPSHUDWXUDLQDOWDREDVVDSUHVVLRQH5LVSHWWRDOOHFDOGDLHDJDVROLRF¶qXQULVSDUPLR
GHOVXLFRVWLGLFRPEXVWLELOH
XWLOL]]DXQRVFDPELDWRUHGLFDORUHELPRGXORFRPELQDWRDWUHJLULGLIXPLDGDOWRUHQGLPHQWRFKHXWLOL]
]DFRPHFRPEXVWLELOHLOJDVPHWDQRRJSO
qXQDPDFFKLQDFKHSXzHVVHUH
LQVWDOODWDQHLQXRYLLPSLDQWLH
RQHJOLLPSLDQWLHVLVWHQWL3Xz
HVVHUHIDFLOPHQWHLQWHJUDWDLQSDUDOOHORFRQ
DOWUHFDOGDLH R QHOODVHPSOLFH VRVWLWX]LRQH
VHQ]DRQHURVHPRGL¿FKHGHJOLLPSLDQWLLGUL
FL
qXQSURGRWWRFRVWUXLWRQHOODTXDOLWjHWR
WDOPHQWHLQDFFLDLRLQR[SHU
WDQWR q XQ SURGRWWR GHVWLQDWR
D GXUDUH D OXQJR QHO WHPSR
UHVLVWHQGR DOO¶RVVLGD]LRQH GHJOL DJHQWL DW
PRVIHULFL /¶DFFLDLR LQR[/ FRQ FXL q
FRVWUXLWR OR VFDPELDWRUH q LGHDOH SHU OD
SURGX]LRQHGLDFTXDFDOGDDQFKHDGXVR
VDQLWDULR
KDXQUHQGLPHQWRDOO¶DFTXDHFFH]]LRQDOHGHOXWLOL]]DXQEUXFLDWRUHGLJDVSUHPLVFHODWR
FRQEDVVLYDORULGLHPLVVLRQHGL&2H1R[QHOULVSHWWRGHOOHULJLGHGLUHWWLYHSHUO¶DPELHQWHGH¿QLWH
QHLWUDWWDWLLQWHUQD]LRQDOLGL.\RWR
KDXQDSRWHQ]DPRGXODQWHGDN:GLSLFFRPD[DXQPLQLPRGLN:/DPRGXOD]LRQHqJXL
GDWDGDXQDVFKHGDHOHWWURQLFDFRQPLFURSURFHVVRUHDSSRVLWDPHQWHSURJHWWDWDSHULOFRQWUROORHG
LOPDQWHQLPHQWRGHOODWHPSHUDWXUDGLODYRURDQFKHQHOO¶XWLOL]]RGLFDULFKLYDULDELOL
SXRHVVHUHLQVWDOODWRVLQJRODUPHQWHRLQEDWWHULD08/7,%/2&.TXDORUDVLDULFKLHVWDXQDPDJ
JLRUHSRWHQ]DWHUPLFDSHUVHUYLUHDXWRQRPDPHQWHLPSLDQWLVSHFLDOLPXOWLSRPSHRSLVHUYL]LFRQQR
WHYROLYROXPLG¶DFTXDGDULVFDOGDUH
YLHQHSURGRWWRLQXQDJDPPDGLWUHPRGHOOL+:3+:33+:36FRQSURGX]LRQHGLDFTXDFDOGD
LVWDQWDQHDFRQVHUEDWRLRDGDFFXPXORSUHGLVSRVWRSHUHVVHUHDOLPHQWDWRDQFKHGDSDQQHOOLVRODUL
SXzHVVHUHFROOHJDWRFRQLONLWSHUODWHOHJHVWLRQHDGLVWDQ]D
6LSRVVRQRYLVXDOL]]DUHHLPSRVWDUHLSDUDPHWULIXQ]LRQDOLGHOODPDFFKLQDDFFHQVLRQHVSHJQLPHQWR
UHVHWWHPSHUDWXUDHFF
GAS
6&+('$7(&1,&$
02'(//2
+:3
&$7(*25,$$33$5(&&+,2
+:33
,,+%3
7,32$33$5(&&+,2
PD[
PLQ
PD[
PLQ
PD[
3257$7$7(50,&$120,1$/(+L
327(1=$7(50,&$87,/(+V
5(1',0(1727(50,&2120,1$/(
&/$66(',5(1',0(172
&/$66(12;
5$332572',02'8/$=,21(
N:
N:
N:
N:
PD[
&216802*$6120,1$/(
PLQ
35(66,21($/,0(17$=,21(*$6
7(03(5$785$0$66,0$',(6(5&,=,2
7(03(5$785$)80,
35(66,21(0$66,0$',(6(5&,=,2FLUFXLWRDOWDSUHVVLRQH
35(66,21(0$66,0$',(6(5&,=,2FLUFXLWREDVVDSUHVVLRQH
352'8=,21($&48$&$/'$
ǻW$&48$
*DV
$OLPHQWD]LRQHDIUHGGREDVVDSUHVVLRQH
$OLPHQWD]LRQHSRPSDDOWDSUHVVLRQH
$77$&&+,
,'5$8/,&,
$OLPHQWD]LRQHFLUFXLWRDOWDSUHVVLRQH
8VFLWDDFTXDFDOGDFLUFXLWRDOWDEDVVDSUHVVLRQH
6FDULFRFRQGHQVD
6&$5,&2)80,
$63,5$=,21($5,$
DOWH]]D
',0(16,21,'¶,1*20%52
ODUJKH]]D
SURIRQGLWj
3(62
*5$'2',3527(=,21((/(775,&$
$/,0(17$=,21((/(775,&$
327(1=$(/(775,&$$6625%,7$
PD[
%3%3&&
ÌÌÌÌ
ÌÌÌÌ
·
·
´
´
ô
ô
ô
ô
ò
ò
ò
ò
ò
ò
,3;'
,3;'
*PK
*NJK
*NJK
*PK
*NJK
*NJK
*PEDU
*PEDU
*PEDU
&
&
EDU
EDU
OPLQ
&
³0
³0
³0
³0
³0
³)
PP
PP
PP
PP
PP
NJ
9+]
:
9$17$**,'(//$&$/'$,$$*$6
- *$6qLOFRPEXVWLELOHGHOO¶HQHUJLDSXOLWDFKHDOLPHQWD+:3,OJDVRJJLqO¶HQHUJLDSLFRQYHQLHQWHSHUOHDWWLYLWj
GHOOHD]LHQGHqVHPSUHGLVSRQLELOHSHUFKqFROOHJDWRLQUHWH
- 5LVSDUPLRQHOO¶DFTXLVWRGHOJDVXWLOL]]DWRQHOOHDWWLYLWjD]LHQGDOLJUD]LHDOOHWDULIIHDJHYRODWHHDOODGH¿VFDOL]
]D]LRQHSHUXWLOL]]RLQDWWLYLWjSURGXWWLYH,OFRVWRGHOJDVqGHFLVDPHQWHLQIHULRUHULVSHWWRDOO¶HQHUJLDHOHWWULFDR
DOO¶ROLRFRPEXVWLELOH
- 5HQGLPHQWRDOO¶DFTXDHOHYDWRXWLOL]]DQGRJDVFRQYDORULVXSHULRULDO
- 5LVSDUPLRQHOFRQVXPRRUGLQDULRGLJDVJUD]LHDOEUXFLDWRUHPRGXODQWHGDDN:FKHDXWRPDWLFDPHQWHVL
DXWRUHJRODODSRWHQ]DQHFHVVDULDLQIXQ]LRQHGHOODWHPSHUDWXUDSUHLPSRVWDWDHGHOODSRUWDWDGHOO¶DFTXDGLXWLOL]]R
5LVSDUPLDVHPSUHLO
- (FRORJLFRFRQOHULGRWWHHPLVVLRQLLQDWPRVIHUDGHLSURGRWWLGHOODFRPEXVWLRQHFRPHYLHQHULFKLHVWRQHLFRQWUROOL
GDOOHQRUPDWLYHYLJHQWL
- 6LFXURQHOIXQ]LRQDPHQWRJUD]LHDOFRQWUROOR¿DPPDDLRQL]]D]LRQH3UHGLVSRVWRFRQLUDFFRUGLDWHQXWDSHULO
FROOHJDPHQWRDFDPHUDVWDJQDFRQVFDULFRIXPLHSUHVDDULDHVWHUQD
- (VLJXRFRQVXPRHOHWWULFRULVSHWWRDOOHWUDGL]LRQDOLFDOGDLHQRQHVVHQGRQHFHVVDULRXWLOL]]DUHXQYHQWLODWRUHSHU
LOUDIIUHGDPHQWRGHOODFDOGDLD
- 5LGRWWLVVLPDPDQXWHQ]LRQHRUGLQDULDHVWUDRUGLQDULDÊVXI¿FLHQWHLOWDJOLDQGRSHULRGLFRGLFRQWUROORSURJUDP
PDWRFRQLOYLFLQRFHQWURDVVLVWHQ]D
- 5LVSDUPLRQRWHYROHVXOFRVWRGHLULFDPELJUD]LHDOODVFHOWDGLFRPSRQHQWLHPDWHULDOLGLTXDOLWjFHUWL¿FDWLXQLWD
PHQWHDGXQDUHFHQWHSURJHWWD]LRQH
- 6LOHQ]LRVLWjQHOO¶DFFHQVLRQHHQHOIXQ]LRQDPHQWRGEDPFRPHLOOLHYHIUXVFLRGHOYHQWR
- 1HVVXQDSXOL]LDSHULRGLFDGHOODFDOGDLDHGHOODFDQQDIXPDULDFRQXQDPDJJLRUHHI¿FLHQ]DHUHFXSHURFRVWL
GLPDQXWHQ]LRQHRUGLQDULD
- 7XELGLVFDULFRIXPLHSUHVDG¶DULDFRQGLDPHWURULGRWWRPPFRQOXQJKH]]HVWDQGDUGGHOWXER¿QRDP
- 5LGRWWLVVLPHSHUGLWHGLFDORUHSHUFRQYHQ]LRQHHLUUDJJLDPHQWRHVVHQGRWXWWRORVFDPELDWRUHGLFDORUHWRWDO
PHQWHLPPHUVRQHOO¶DFTXDGLXWLOL]]R
- 3UHFLVLRQHQHOODUHJROD]LRQHGHOODWHPSHUDWXUDPHGLDQWHLOWHUPRVWDWRFRQVRQGDHOHWWURQLFD,OPDQWHQL
PHQWR GHL YDORUL LPSRVWDWL q FRQWUROODWR FRQ LO PLFURSURFHVVRUH GHOOD VFKHGD PDGUH H OD YLVXDOL]]D]LRQH GDWL q
YLVLELOHIURQWDOPHQWHFRQLOGLVSOD\HOHWWURQLFR
- )DFLOHQHOO¶LQVWDOOD]LRQHLQTXDOVLDVLSRVL]LRQHRUL]]RQWDOHYHUWLFDOH
- 9HUVDWLOHSHUFKqVLSXzDEELQDUHDEDVVRFRVWRGLDOODFFLDPHQWRDJOLLPSLDQWLHVLVWHQWL
- )OHVVLELOHSHUFKqVLSRVVRQRWUDVIRUPDUHLPSLDQWLGLDFTXDIUHGGDLQLPSLDQWLDGDFTXDFDOGDXWLOL]]DQGR
O¶LPSLDQWRHOHSRPSHHVLVWHQWL
- 3RWHQ]LDOLWj YDULDELOH GD N: LQ VX FRQ LQVWDOOD]LRQH H IXQ]LRQDPHQWR PRGXODUH LQ EDWWHULD 08/7,
%/2&.
- /XQJDGXUDWDQHOWHPSRJUD]LHDOODUREXVWDVWUXWWXUDHDOODTXDOLWjGHLPDWHULDOLXWLOL]]DWLLQDFFLDLRLQR[/
- *DPPDLQYHUVLRQLSHUOHYDULHHVLJHQ]HDSSOLFDWLYHXWLOL]]DQGRFRPHHQHUJLDSULPDULDDQFKHLOVROHDFRVWR
]HURFRQXOWHULRUHULVSDUPLRGLJDV
- 3XzHVVHUHXWLOL]]DWRLQDOWDHEDVVDSUHVVLRQHSHUDOLPHQWDUHVHUEDWRLDGDFFXPXORRDQFKHFRPHFDOGDLD
SHUULVFDOGDPHQWRORFDOL
&20%867,%,/,$&21)52172
&$/'$,$$*$62/,2(&$/'$,$
&$/'$,$
$*$62/,2
63$=,2&,67(51$
6,
12
63$=,2&217$725(
&,67(51$
6,
12
,/*$62/,21(&(66,7$
',25',1('¶$&48,672
6,
12
,/*$6Ê',6321,%,/(
,15(7(
&21752//25,6(59$
0,1,0$*$62/,2
6,
12
$*(92/$=,21,),6&$/,
12 6,
3(5&,&/,352'877,9,
5(1',0(1722/75(,/
12 6,
2/75(,/
38/,=,$3(5,2',&$
',&$/'$,$78%2)80,
6,
12
9$17$**,
69$17$**,
0$187(1=,21,$&21)52172
3(5,1&219(1,(17,)5(48(17,
&$/'$,$$*$62/,2
8*(//2%58&,$725(
62673(5,2',&$
6,
12
121&¶Ê/¶8*(//2
3203$*$62/,2*5,33$7$
6,
12
121&¶Ê/$3203$
$&48$1(/*$62/,2
6,
12
121&¶Ê&,67(51$
),/7526325&2
6,
12
121&¶Ê),/752
$63,5$=,21($5,$
'$78%$=,21,*$62/,2
6,
12
,03,$172,135(66,21(
527785$(/(7752'22
&211(7725(
6,
12
%$66(7(03(5$785(
38/,=,$3(5,2',&$
&$/'$,$(78%,
6,
12
&20%867,21(
(&2/2*,&$
&21752//2),$00$
&21)272&(//8/$
6,
12
(/(7752'2$'
,21,==$=,21(
0$187(1=,21(
675$25',1$5,$
)5(48(17(
6,
12
2&&$6,21$/(
0$187(1=,21(
25',1$5,$1(&(66$5,$
6,
12
7$*/,$1'23(5
9(5,),&$7$5$785$
9$17$**,
69$17$**,
)81=,21$0(172$&21)52172
&$/'$,$$*$62/,2
6,/(1=,262
12 6,
62/2G%
327(1=$02'8/$17(
687(03(5$785$(
3257$7$'¶$&48$
12 6,
0,&52352&(6625(
3(5&21752//2(
02'8/$=,21(
'$/$/
6,/(1=,262
1(//¶$&&(16,21(
12 6,
12 6,
,1&217,182
7(03(5$785$)80,
,1)(5,25($&
12 6,
&20%867,21(&21
,03$772(&2/2*,&2&21
%$66,9$/25,',(0,66,21,
12 6,
%58&,$725(
35(0,6&(/$72&21
0,;(5('1R[&/$66(
38/,=,$/2&$/(&$/'$,$
'$)8/,**,1(
12 6,
7(03(5$785$
'(//¶$&48$,1
&21752//2&217,182
212))
9$17$**,
69$17$**,
352*(772',48$/,7¬
'(6&5,=,21(&20321(17,
&$0(5$&20%867,21(',$/7$35(66,21(,1$&&,$2,12;/
(675$,%,/(
&$0(5$35(66,21(%$66$35(66,21(,1$&&,$,2,12;/
3257(//21,)80,0$17(//$785$6&2&&$%58&,$725(67587
785$',68332572,1$&&,$,2,12;
%58&,$725($*$602'8/$17(&21&21752//2$0,&52352
&(6625(6,/(1=,2621(//¶$&&(6,21((1(/)81=,21$0(172
48$'52(/(775,&2',&21752//2(6,&85(==$,1,3
&21752//2),$00$$',21,==$=,21(
327(1=$02'8/$17(*(67,7$$8720$7,&$0(17(,1)81=,21(
'(/&$5,&27(50,&2'$$.:
5(1',0(172683(5,25($/
3266,%,/,7$¶',87,/,==2&$/'$,$,1$/7$2%$66$35(66,21(
)81=,21$0(172'$$%$5',35(66,21(
6&+('$7(&1,&$&$/'$,$67$1'$5'
'$7,7(&1,&,+:3$//$0$66,0$327(1=$
3257$7$$&48$5,&+,(67$
/,75,0,1
6$/727(50,&2
&
7(03(5$785$$&48$&$/'$
&
7(03(5$785$$/,0(17$=,21($&48$)5(''$
&
&216802*$6
.:
&216802(/(775,&2
:K
327(1=$7(50,&$&('87$$//¶$&48$
N:
5(1',0(172$//¶$&48$
&2172(&2120,&2$&21)52172
&$/'$,$$*$62/,2(+:3
&21)5217,68,&21680,
1(//$352'8=,21(',$&48$&$/'$
&21,/182926,67(0$³+:3´$*$6
()),&,(1=$(&21680,&20%867,%,/(3(525$',)81=,21$0(172
&DOGDLDD
*$62/,2
+:3D
*$60(7$12
+:3D
*$6*3/
3RWHQ]DEUXFLDWD
N:
&RQVXPRRUDULR
0(7$12
*3/
N:
N:
N:
N:
OLWUL
PK
OK
¼OLWUR
¼P
¼O
¼
¼
¼
¼
¼
5HQGLPHQWR
&RVWRXQLWDULR
&RVWRRUDULR
&21680,
(/(775,&,
9$17$**,³+:3´
$&21)52172
*UXSSR
D*$62/,2
N&DOK N&DOK
*UXSSR+:3 *UXSSR+:3
D0(7$12
D*3/
3RWHQ]D
DVVRUELWD
:
:
:
:
:
&RVWRRUDULR
¼
¼
¼
¼
¼
¼K
¼K
¼K
¼K
¼K
&2672
727$/(
5,63$50,2
25$5,2
*/2%$/(
5,63$50,2),12$/
&21³+:3´$*$6
*8$'$*12
),12$/
5,63$50,2
&21
3(5,2'2 LQ25$ LQ25( LQ*,251,
0(7$12
¼
*3/
¼
¼ ¼
¼
¼
6(7725,',87,/,==2
z $872/$9$**,
z $872)),&,1(
z $87275$63257,
z 0$&(//,
z 6(7725($/,0(17$5(
z /$925$=,21,3(//,
z ,1'8675,$&+,0,&$
z ,1'8675$0(&&$1,&$
z *5$1'(',675,%8=,21(
z (17,38%%/,&,
z ,035(6((6(59,=,
z $//(9$0(17,
z $*5,&2/785$
z &$6(,),&,
(&&2&+,+$*,$6&(/72',5,63$50,$5(,/
%RORJQD
,PSUHVDGLSXOL]LH
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
$QFRQD
$XWRODYDJJLR
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
0LODQR
$XWRWUDVSRUWL
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
5RPD
+DQJDU
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
5()(5(1=(
(&&2&+,+$*,$6&(/72',5,63$50,$5(,/
&DVHUWD
&DVHL¿FLR
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
7UHQWR
$XWRI¿FLQD
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
9HURQD
$OOHYDPHQWL
Q+:3
SRUWDWDWHUPLFD
WRWDOHN:
3HVFDUD
5HYLVLRQL
Q+:36
SRUWDWDWHUPLFD
WRWDOHN:
7RULQR
/DYRUD]LRQH&DUQL
Q+:33
SRUWDWDWHUPLFD
WRWDOHN:
5()(5(1=(
*$00$
+:367$1'$5'
8WLOL]]RSHUSURGX]LRQHGLDFTXDFDOGDLVWDQWDQHD
'LVSRQLELOHFRPHDFFHVVRULRXQNLWLGUDXOLFRLQWHJUDWR
QHOODPDFFKLQDSHUDOLPHQWD]LRQHVHUEDWRLRDGDFFX
PXORHVWHUQRDOODFDOGDLDSHUSURGX]LRQHDFTXDFDOGD
VDQLWDULDRGLULVFDOGDPHQWRLQEDVVDSUHVVLRQH
+:333$&.$*(
ÊXQSDFNDJHSHUSURGX]LRQHLVWDQWDQHDGLDFTXDFDOGDFRPELQDWR
DGXQERLOHUDGDFFXPXORLQWHJUDWRLQXQXQLFRJUXSSRWHUPLFR
'LVSRQLELOH FRPH DFFHVVRULR XQ NLWVFDPELDWRUH GL FDORUH LQVHULWR QHO
ERLOHU SHU YHLFRODUH O¶HQHUJLD WHUPLFD DG DOWUH XWHQ]H XVR VDQLWDULR R
ULVFDOGDPHQWR
+:3008/7,%/2&.
eLOJUXSSRWHUPLFRSURJHWWDWRSHUDEELQDUH
SL PRGHOOL +:3 67$1'$5' SHU LQFUH
PHQWRGLSRWHQ]D
1RWD FRQVXOWDUH O¶XI¿FLR WHFQLFR &20(;
*5283SHULOFRUUHWWRGLPHQVLRQDPHQWR
+:3&21,17(*5$=,21(62/$5(
+:3662/$53$&.$*(
eLOSDFNDJHVRODUHSHUSURGX]LRQHLVWDQWDQHDGLDFTXDFDOGDFRPELQDWRDGXQERLOHUDGDFFXPXORSUHGLVSR
VWRSHUO¶LQWHJUD]LRQHFRQÀXLGLGDIRQWLHVWHUQHSDQQHOOLVRODULRDOWULVRUJHQWLGLFDORUH
'LVSRQLELOHFRPHDFFHVVRULRNLWSDQQHOOLVRODULFRQFHQWUDOLQDGLFRQWUROORLQWHJUDWD
+:3&62/$53$&.$*(
eLOSDFNDJHVRODUHSHUSURGX]LRQHLVWDQWDQHDGLDFTXDFDOGDFRPELQDWRDGXQERLOHUDGDFFXPXORSUHGLVSR
VWRSHUO¶LQWHJUD]LRQHFRQÀXLGLGDIRQWLHVWHUQHFRQFHQWUDWRULVRODULRDOWULVRUJHQWLGLFDORUH
'LVSRQLELOHFRPHDFFHVVRULRNLWFRQFHQWUDWRULVRODULFRQFHQWUDOLQDGLFRQWUROORLQWHJUDWD
$&&(6625,
&2',&(
'(6&5,=,21(
+:.,
.,7,'5$8/,&2$%25'20$&&+,1$3(5352'8=,21($&48$&$/'$
$%$66$35(66,21(
+:9/
5,'87725(',35(66,21(&210$120(7523(5&,5&8,72,1%$66$
35(66,21(
+:70 .,7&20$1'25(0272
+:63 %$6$0(172',68332572$7(55$,1$&&,$,2,12;
+:63 67$))(',68332572,1$&&,$,2,12;$3$5(7(SHU+ZSVWDQGDUG
*1&0 7(50,1$/(6&$5,&2
*1.& 6&$5,&2)80,$3$5(7(&2152621,07
*1.& 6&$5,&2)80,$7(772&21&219(56$07
*1&0 78%20)32/,3523,/(1('$07
*1&0 78%20)32/,3523,/(1('$07
*1&0 &859$32/,3523,/(1(0)
*1&0 &859$32/,3523,/(1(0)
*1&0 7521&+(772',*,81=,21(,132/,3523,/(1(
%DVDPHQWR GL VXSSRUWR LQ DFFLDLR
LQR[PRGHOOR+:367$1'$5'
FRG+:63
6WDIIDGLVXSSRUWRDSDUHWHLQDFFLDLRLQR[PRGHOOR
+:367$1'$5'
FRG+:63
.LW&20$1'25(0272
FRG+:70
1(//$78$$77,9,7¬
5,63$50,$68,&267,'(/
&20%867,%,/(
'$,817$*/,2$/*$62/,2
3$66$$/'!3
&21
6723
,/*$62/,2$80(17$
5(7(*$6
,/1267520(67,(5(
&$/'$,(()251,
,QRVWULVHUYL]L
5HFHSWLRQ
UHFHSWLRQ#FRPH[JURXSLW
&$/'$,((%$77(5,(9(17,/$17,
&/,0$,5/($'(5
&RPPHUFLDOH
FRPPHUFLDOH#FRPH[JURXSLW
0DUNHWLQJ
PDUNHWLQJ#FRPH[JURXSLW
*HVWLRQHRUGLQL
RUGLQL#FRPH[JURXSLW
&$/'$,(&/,0$,5,1%$77(5,$
$PPLQLVWUD]LRQH
DPPLQLVWUD]LRQH#FRPH[JURXSLW
7HFQLFRSUHYHQGLWD
SUHYHQGLWD#FRPH[JURXSLW
$VVLVWHQ]DHULFDPEL
DVVLVWHQ]D#FRPH[JURXSLW
&$/'$,($&21'(16$=,21(
*(1(6,,1%$77(5,$
7HFQLFRVYLOXSSRSURGRWWL
VYLOXSSR#FRPH[JURXSLW
6FXRODIRUPD]LRQH
IRUPD]LRQH#FRPH[JURXSLW
6&$0%,$725(',&$/25(
$5(&83(52',)80,
,(6,
)251,,1'8675,$/,
/¶D]LHQGD
6FXRODIRUPD]LRQH
&RPH[*URXS6UO
/25(**,$3'9LD(XURSD8QLWD
7HO)D[
ZZZFRPH[JURXSLWLQIR#FRPH[JURXSLW
,GDWLGHOSUHVHQWHRSXVFRORGHYRQRULWHQHUVLLQGLFDWLYLHQRQLPSHJQDWLYL
/D&RPH[*URXSVLULVHUYDLOGLULWWRGLPRGLILFDUOLVHQ]DREEOLJRGLSUHDYYLVR
Scarica
