2.3 35,(7$,62.216758.&,-$92/&$12
1.
â,/802.$,7,6PDNVLPDOnjVãLOXPRNDLþLRãLOG\PRãLOXPQHãLRSDUDPHWUDL\UD&03D$OLXPLQLRLUYDULRNRQVWUXNFLMDQDXGRMDQWYDULQLXVYDP]GåLXVVSLUDOơVYDP]GƳLUDOLXPLQLR
SORNãWHOHV-XQJLPRODQNDLô´LãRULQLVVULHJLV\UDJDOLQơMHƳUHQJLQLRSORNãWơMH0njVǐƳUHQJLQLǐVHULMRMH\UDYLHQRVHLOơVãLOXPRNDLWLVQDXGRMDPDVN:JDOLRVƳUHQJLQLXRVHÄ92/&$1295³
GYLHMǐHLOLǐãLOXPRNDLWLVQDXGRMDPDVN:JDOLRVƳUHQJLQLXRHÄ92/&$1295PLQL³LUWULMǐHLOLǐãLOXPRNDLWLVQDXGRMDPDVN:JDOLRVƳUHQJLQLXRVHÄ92/&$1295³LUN:JDOLRV
ƳUHQJLQLXRVHÄ92/&$1295³
2.
$â,1,6(/(.75,1,665$8729(17,/,$725,86PDNVLPDOLGDUERWHPSHUDWnjUD\UD&YDUGLQơPDLWLQLPRãDOWLQLRƳWDPSD\UD9+]$&YDULNOLRDSVDXJRVNODVơ\UD,3
VDQGDUXPRNODVơÄ)³(&YDULNOLǐDSVDXJRVNODVơ\UD,32UąSDGXRGDDãLQLVVUDXWRYHQWLOLDWRULXVDSVDXJRWDVDSVDXJLQơPLVJURWHOơPLV$WLWLQNDPDVDãPHQǐSUR¿OLVLUWLQNDPLJXROLDLXåWLNULQD
W\OǐLUSDWLNLPąƳUHQJLQLRYHLNLPą'LGHOơYDULNOLRJDOLDOHLGåLDSDVLHNWLGLGHOƳQDãXPąPDåRPLVHQHUJLMRVVąQDXGRPLVLULãODLN\WLYLVDSXVLãNąSDGXRGDPRRURUHJXOLDYLPą7LQNDPRSUR¿OLRNRUSXVDV
VXPDåLQDVNOHLGåLDPRWULXNãPRO\JƳWRGơOƳUHQJLQ\V\SDþSDWUDXNOXVQDXGRWRMXLWLQNDPDVPRQWXRWLSDVWXRVHNXULXRVHNHOLDPLGLGHVQLDNXVWLNRVO\JLRUHLNDODYLPDL
3.
.25386$6VXVLGHGDLãNRUSXVRLUSULHNLQơVSORNãWơVSDJDPLQWRVLãDXNãWRVNRN\EơVSODVWLNRXåWLNULQDQWVXGHULQDPXPąVXSULHWDLVDLVPDLWLQDPDLVãLOXPRVWHUSơVWHPSHUDWnjURVSDUDPHWUXL
HVDQWLNL&6SDOYRWRVãRQLQơVSORNãWơVOHLGåLDGHULQWLSULHWDLVRVSDOYąSULHLQWHUMHURDSGDLORV3ULHWDLVDV9ROFDQR95'QDXGRMDFLUNXOLXRMDQWƳRUąSDJHULQGDPDVMRSDVNLUVW\PąLUDWOLNGDPDV
RURVOXRNVQLǐLãVNDLG\PRIXQNFLMą
4.
252.5(,3789$,SDSLOGRPRVƳUDQJRVHOHPHQWDV-LVHUJRQRPLãNDVOHQJYRVNRQVWUXNFLMRVMDPHSULHWDLVDVJDOLVXNWLVKRUL]RQWDOLRMHSORNãWXPRMHQXR··NDPSXNDGEnjWǐJDOLPD
QXNUHLSWLNDUãWRRURVUDXWąSDJHLGDXMDPDNU\SWLPL
5.
0217$9,02.521â7(,1$6SDSLOGRPRVƳUDQJRVHOHPHQWDVOHQJYDLOHLGåLDSDVXNWLSULHWDLVąKRUL]RQWDOLDLQXNUHLSLDQWãLOWRRURVUDXWąUHLNLDPDNU\SWLPL
%(1'5,(-,0$70(1<692/&$1295PLQL95959595'
1
2
3
4
5
3
1. â,/802.$,7,6
2. $â,1,6(/(.75,1,69(17,/,$725,86
3. '$1*7,6
4. 0217$9,02.521â7(,1$6
5. 9$/'<0238/723$9<='<6
92/&$12950LQL
AC EC
92/&$1295959595'
AC EC
167
LT