Poradnik cz.1

Redakcja
!"#$%&'($%&$#
)*+,-'.$%/+0%#*
!"#$%#
1$2*3'4567*80%#*
&%'#(
1$7*89':-&8&*;%#*
Korekta
<0+7$'=-"%&80%#$>4,+/5
)*+,-'4,+/5
Wydawca
4*8?'(%6*8-$7*$'@-A$7*&$BC*')+&$-&D3+05BE'4)F@G
H9I'J*86+398A/+KB*'LMN'9+#IOM
PL>PPQ'($-%&$0$
G89IRS$TI'LLUVLO'NL'WW
000I%*8B%69+,I69
X*"-+Y%*8B%69+,I69
Z+65-*AE,'X5'4*8?'4)F@G'['($-%&$0$'LPWL
<4:J'QOV>V]>QLWPP]>M>V
!"#$%&'()*"%+,"-+.)-/0120#$34)$%*'&'/5#$3.')067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;)6+0%,$/'0'057*#"'-8$9*&$BC*'
6-+C8#,"'%5%,8^+08A+'67I'_.+389'0%6`/6-$B5'$3^*7*%,-$BC*'6"X9*B&78C'*'+-A$7*&$BC*'6+&$-&D3+05BE'a'056-$B+>
0$7*8'*'"6+0%&8BE7*$7*8'%,$73$-3`0'0%6`/6-$B5b['0%6`/c7$7%+0$78A+'6-&8&'d7*e'f"-+68C%#D'&'f"-+68C%#*8>
A+'g"73"%&"'46+/8B&78A+['0'-$^$BE')-+A-$^"'@68-$B5C78A+'=$6*,$/'F"3&#*['1&*$/$7*8'NIM[')+33&*$/$7*8'NIMIWI
)"X9*#$BC$'C8%,'35%,-5X"+0$7$'X8&6/$,7*8'*'7*8'^+h8'X5?'%6-&83$0$7$I
)"X9*#$BC$'C8%,'0%6`/c7$7%+0$7$'&8'K-+3#`0'd7**'f"-+68C%#*8C'0'-$^$BE'f"-+68C%#*8A+'g"73"%&"'46+/8B&78A+I
!"#$%&'()*"%+,"-+.)-/0120#$34)$%*'&'/5#$3.')067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;'
6+0%,$/' 3&*e#*' 6-$B5' *' &$$7A$h+0$7*"' 6-&83%,$0*B*89*' 186$-,$^87,"' )+h5,#"' )">
X9*B&78A+'0'.*7*%,8-%,0*8' )-$B5' *')+9*,5#*' 46+/8B&78C['i0*D&#"' .*$%,')+9%#*BE['Z+9>
98A*"^'Z*2*,$%['g+-"^'H#,50*&$BC*'@X%&$-`0'(*8C%#*BE['<7%,5,","'46-$0')"X9*B&75BE'
+-$&'4*8B*'4)F@GI'
('A-+7*8')$-,78-`0'+6-$B+0$78'&+%,$/5',8+-8,5B&78'&$/+h87*$'0%6`/6-$B5'$3^*7*>
%,-$BC*'6"X9*B&78C'*'+-A$7*&$BC*'6+&$-&D3+05BE['#,`-8'6-&5Ce/5' S+-^e'.+389"'0%6`/>
6-$B5I'J$'C8A+'X$&*8'6-&5A+,+0$75'&+%,$/'7*7*8C%&5'PoradnikI
@'*98'<"%+,)-/0120#$34'C8%,''0%#$&$7*8^'+A`978C'^8,+35'X"3+0$7*$'0/$KB*05BE'-89$>
BC*'^*e3&5'%8#,+-$^*['+',598'Poradnik'%,$7+0*'%08A+'-+3&$C"'_-8B86,eb['+6*%"CDBD'C$#'
3+',8A+'.+389"'3+BE+3&*?I'
4&B&8A`978'6+3&*e#+0$7*$'#*8-"C8^5'3+'$",+-`0'Poradnika +-$&'3+'0%&5%,#*BE'+%`X'
0%6`/6-$B"CDB5BE'&'7$^*'6-&5'C8A+'6+0%,$7*"'*'"3+%#+7$9$7*"I
.$^5'7$3&*8Ce['h8'Xe3&*8'+7'39$')$;%,0$'6+^+B75'*'*7%6*-"CDB5I
j5B&5^5'+0+B78C'0%6`/6-$B5I
.$-,$'k$%*"-%#$'a'15-8#,+-#$'4*8B*'4)F@G
''
!"#$%&'1+^$A$/$'a')-8&8%'4*8B*'4)F@G

(6-+0$3&87*8
(IW'(%,e6'
(IL'<7%,-"#BC$'+X%/"A*'
(I]':"3+0$7*8'0%6`/6-$B5'6+^*e3&5'%$^+-&D38^'$'+-A$7*&$BC$^*'6+&$-&D3+05^*
6+'WQVQ'-+#"'a'-5%'E*%,+-5B&75',0+-&87*$'^+389*'0%6`/6-$B5'0')+9%B8b'
(IM'1*$A7+&$'%,$7"'0%6`/6-$B5'a'057*#*'X$3$;'*'8#%68-,5&'6+K0*eB+75BE'%5,"$BC*'
0')+9%B8'0'&$#-8%*8'0%6`/6-$B5'%$^+-&D3"'&'+-A$7*&$BC$^*'6+&$-&D3+05^*'+-$&'6/57DB8'
&'7*BE'-8#+^873$BC8
)/$%&B&5&7$'W
'
(%6`/6-$B$'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'*'+-A$7*&$BC*'6+&$-&D3+05BE'0'&$#-8%*8'
,0+-&87*$'6+9*,5#'6"X9*B&75BE
@X%&$-'W'(%6`/6-$B$'%$^+-&D3"',8-5,+-*$978A+'*'+-A$7*&$BC*'6+&$-&D3+05BE'
0'3*$A7+&+0$7*"'9+#$975BE'6-+X98^`0'*'05&0$;
@X%&$-'L'(&$C8^78'*7S+-^+0$7*8'%*e'%$^+-&D3"',8-5,+-*$978A+'*'+-A$7*&$BC*'
6+&$-&D3+05BE'+'69$7$BE['&$^*8-&87*$BE'*'#*8-"7#$BE'3&*$/$;
@X%&$-']'(%6`/,0+-&87*8'6-&8&'%$^+-&D3',8-5,+-*$975'*'+-A$7*&$BC8'6+&$-&D3+08'
%,-$,8A**'*'6-+A-$^`0'-8$9*&$BC*'6+9*,5#'6"X9*B&75BE'+-$&'-+&0*D&$;'*7%,5,"BC+7$975BE
@X%&$-'M'=+7%"9,+0$7*8'6-&8&'%$^+-&D3',8-5,+-*$975'*'+-A$7*&$BC8'6+&$-&D3+08'&$/+h8;'
6-+C8#,`0'*'$#,`0'7+-^$,5075BE'+-$&'&$%$3'-8$9*&$BC*'*775BE'6-&83%*e0&*e?
@X%&$-'N'(%6`/6-$B$'%$^+-&D3"'*'+-A$7*&$BC*'6+&$-&D3+05BE'6-&5'03-$h$7*"'6+9*,5#'
6"X9*B&75BE
@X%&$-'l'dB&8%,7*B,0+'+-A$7*&$BC*'6+&$-&D3+05BE'0'+B87*8'-8$9*&$BC*'6+9*,5#'
*'6-+A-$^`0'
7
11
17
)/$%&B&5&7$'L
'
(%6`/6-$B$'%$^+-&D3"'&'+-A$7*&$BC$^*'6+&$-&D3+05^*'0'&$#-8%*8'-8$9*&$BC*'&$3$;'
6"X9*B&75BE'
'
@X%&$-'W'm8$9*&$BC$'&$3$;'6"X9*B&75BE'&'05#+-&5%,$7*8^'S+-^'c7$7%+05BE'
@X%&$-'L'(%6`/6-$B$'7*8c7$7%+0$'6-&5'-8$9*&$BC*'&$3$;'6"X9*B&75BE'
@X%&$-']I')$-,78-%,0+'6-+C8#,+08'0'-8$9*&$BC*'&$3$;'6"X9*B&75BE'
)/$%&B&5&7$']
<7S-$%,-"#,"-$'0%6`/6-$B5[',0+-&87*8'0$-"7#`0'3+'%6+/8B&78C'$#,507+KB*'
@X%&$-'W'45%,8^'0%6*8-$7*$'*7*BC$,50'+X50$,89%#*BE'*'+-A$7*&$BC*'6+&$-&D3+05BE'
@X%&$-'L'(%6*8-$7*8'6-+B8%`0'*7,8A-$BC*'%8#,+-$'+-A$7*&$BC*'6+&$-&D3+05BE'
@X%&$-']')$-,78-%,0+'9+#$978'
.$,8-*$/5'3+3$3,#+08
1IW'(%6`/6-$B$'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'&'+-A$7*&$BC$^*'6+&$-&D3+05^*'
a'3+X-8'6-$#,5#*
1IL'k$#'6-&5A+,+0$?'3+X-5'6-+A-$^'0%6`/6-$B5'
1I]'4,$73$-5&$BC$'"%/"A'6"X9*B&75BE'
1IM'J*8&Xe37*#'3+'n%$^+o+B875
1IN'i$%$3$'-`07+KB*'%&$7%'08'0%6`/6-$B5'%$^+-&D3"',8-5,+-*$978A+'
&'+-A$7*&$BC$^*'6+&$-&D3+05^*'a'0%6`978'05&0$7*8'*'+36+0*83&*$97+K?
23
33
49
55
65
73
79
89
91
117
131
141
143
165
177
191
203
215
225
229
37

('-+&0$h$7*$BE' 7$3' %#",8B&>
75^' *' %6-$075^' 3&*$/$>
7*8^'0'"CeB*"'^+389+05^'
%&B&8A`978A+' &7$B&87*$' 7$X*8-$CD'
07*+%#*' B+' 3+' 6-$#,5B&78A+'%6+%+>
X"' "-&8B&50*%,7*87*$' 6-+6+7+0$>
75BE' -+&0*D&$;I' G$#*8' *7,87BC8' ,+>
0$-&5%&5/5' 6-$B5' 7$3' 6+-$37*#*8^I'
)-+0$3&*'+7')$;%,0$'6+['056-$B+0$75^'0'6-+C8#B*8'6$-,78-%#*^'6,I'<"%+,)-/0120#$34)
$%*'&'/5#$3.')067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;' a'056-$B+0$7*8'*'"6+0%&8BE7*87*8'
%,$73$-3`0'0%6`/6-$B5['%5%,8^+05^'"CeB*"'6-+X98^$,5#*'^*e3&5%8#,+-+08A+'6$-,78->
%,0$'-89$BC*'*'0%6`/3&*$/$7*$I'p/`07D'+%*D',8A+'+6-$B+0$7*$['%,$7+0*DBD'%0+*%,D'*'"7*08->
%$97D'_^$6eb'0%6`/6-$B5['&'&$-5%+0$75^*'0/$KB*05^*'C8C'6/$%&B&5&7$^*'*'+X%&$-$^*['%D'
&$%$35'*'S+-^5'&$0$-,8'0'd%,$0*8'+'3&*$/$97+KB*'6+h5,#"'6"X9*B&78A+'*'+'0+9+7,$-*$B*8['
05,5B&$CDB8'%&9$#*'a'S+-^"/e'*'#*8-"7#*',$#*8C'0%6`/6-$B5I')+^+B78'0'*BE'6-&8^*8-&$7*"'
Xe3D'9*B&78'3-+A+0%#$&5'0'6+%,$B*'0&+-B`0'n0',5^'0&+-B`0'^*7*^$975BEo['3+X-5BE'6-$#>
,5#['"0&A9e37*$CDB5BE'7*8',59#+'+37*8%*87*$'6-$078['$98',$#h8'0*898'%"A8%,**['6+36+0*8>
3&*[' %#/$3$CDB5BE' %*e' 7$' %&8-+#+' -+&"^*$7D' #"9,"-e'0%6`/6-$B5[' #,`-8' a'^$^5'7$3&*8Ce'
a'%6-$0*D['h8'&8BEBD')$;%,0+'7*8',59#+'0%6`97*8'6+3Dh$?'6-+6+7+0$75^*'6-&8&'7$%'_^+>
389+05^*b',-$%$^*['$98',$#h8'%$^+3&*897*8'+3#-50$?'9"X',0+-&5?'7+08'KB*8h#*'0%6`/6-$>
B5['9+#"CDB'C8'X9*h8C'6+,-&8X['"0$-"7#+0$;'*'&$%+X`0'9+#$975BE'%6+/8B&7+KB*I
' .+389' 7*8' 6+0%,$0$/' 0' 6-`h7*I' 1+#+7$9*K^5' -8#+7%,-"#BC*' 6+3/+h$' E*%,+-5B&78A+'
0%6`/6-$B5'^*e3&5'%8#,+-8^'6"X9*B&75^'*'%8#,+-8^'6+&$-&D3+05^I')+&7$9*K^5'^+B78'
*'%/$X8'%,-+75',8C'0%6`/6-$B5['%&$7%8'*'&$A-+h87*$'39$'C8C'-+&0+C"I'4#",8B&7*8'6+%&"#*0$9*>
K^5'3+X-5BE'*'&/5BE'6-$#,5#'0',5^'&$#-8%*8I
' @30+/$9*K^5'%*e'3+'8#%68-B#*BE'$",+-5,8,`0['&$-`07+'0',8+-8,5B&75^['C$#'*'6-$#,5B&>
75^' 05^*$-&8' S"7#BC+7+0$7*$' 6$-,78-%,0$' 6"X9*B&7+>%6+/8B&78A+I' 4#+-&5%,$9*K^5' &8'
%6-$03&+78C'S+-^"/5'05^*$75'0*83&5'*'"^*8Ce,7+KB*'3&*e#*'*7087BC*'*'8S8#,+^'6-$B5'A-"6'
05^*$75' 3+K0*$3B&8;[' +#-DA/5BE' %,+/`0[' %6+,#$;' 0$-%&,$,+05BE[' -8A*+7$975BE' S+-`0'
68/7+^+B7*#`0[' &' 053$,75^' 0#/$38^' #+7#"-%"' 4$^+-&D3+05' F*38-' i$-&D3&$7*$' +-$&'
7
)*+,-
!"#$%#&'()*+,-.+/0+-#1)
2$"/.&'")2/34"&45/6&7)8'9$&.7)87:;+-#6/<')
0)=+6+%&/"%&0+/)8"4-$)+)8';+&$.+)>3'?/-#6/@
W
06-+0$3&87*8
(IW

3+X-5BE' 6-$#,5#I'($h7D' *7%6*-$BCD' 3+' -8q8#%C*' *' 056-$B+0$7*$' #+7#-8,75BE' -+&0*D&$;'
X5/+',$#h8'X+A$B,0+'3+K0*$3B&8;'0'05^*$-&8'*7%,5,"BC+7$975^['0'%&B&8A`97+KB*'186$->
,$^87,"')+h5,#"')"X9*B&78A+['g"73$BC*'_<7%,5,",'46-$0')"X9*B&75BEb['Z+998A*"^'Z*2*,$%['
4*8B*'(%6*8-$7*$'@-A$7*&$BC*')+&$-&D3+05BE'4)F@G['i0*D&#"'.*$%,')+9%#*BE'*'g+-"^'H#,5>
0*&$BC*'@X%&$-`0'(*8C%#*BEI'
' ($-,+KB*D'3+3$7D'X5/+'6+0%,$7*8'6$-,78-%,0$'&0*D&$78A+'&'-8$9*&$BCD'6-+C8#,"['0'-$>
^$BE'#,`-8A+'6+0%,$/5'^+389'*'6+-$37*#['%&B&8A`97*8['h8'0%6`/6-$Be',e'+B87*9*K^5'X$-3&+'
05%+#+I'=*8-+0$9*K^5'%*e'6-&5',5^'%*975^'6-&8#+7$7*8^'+'0$-,+KB*'0%6`/6-$B5'*'057*#$>
CDB5^'&'7*8C'%0+*%,5^'8S8#B*8'%578-A**['7$'#,`-5'&/+h5/+'%*e'3+K0*$3B&87*8['#$6*,$/'9"3&#*['
-`h7$'+6,5#$'6+%,-&8A$7*$'#08%,**'#++68-$BC*'6-&8&'6+%&B&8A`975BE'C8C'$#,+-`0I
' <38$'0%6`/6-$B5'&7$C3"C8'%*978'+6$-B*8'0'#+7%,5,"B5C78C'&$%$3&*8'6+^+B7*B&+KB*[',0+>
-&DB8C'0$-"7#*'3+'"3&*$/"'+X50$,89*'0'6-+B8%$BE'38B5&5C75BE'0'6$;%,0*8['0'K0*8,98'#,`>
-8C' 38B5&C8' *' 3&*$/$7*$' 6+0*775' $7A$h+0$?'^+h9*0*8' 7$C7*h%&8' %&B&8X98' +-A$7*&$B5C78['
B&59*'38'S$B,+'+%+X5'9"X'6+3^*+,5['#,`-5BE'-+&0*D&$7*$',8'3+,5B&DI
' m8A"9$BC8'3+,5B&DB8'0%6`/6-$B5'^*e3&5%8#,+-+08C['$'%&8-&8C'a'S"7#BC+7+0$7*$'%8#,+-$'
6+&$-&D3+08A+'a'06-+0$3&*/$'3+'6+9%#*8A+'6+-&D3#"'6-$078A+'0%6+^7*$7$'0B&8K7*8C'
"%,$0$'&'37*$'LM'#0*8,7*$'LPP]'-I'+'3&*$/$97+KB*'6+h5,#"'6"X9*B&78A+'*'+'0+9+7,$-*$B*8I'
' (%6`/6-$B$['+'#,`-8C'^+0$'0'"%,$0*8['-+&"^*$7$'C8%,'7*8',59#+'0D%#+'a'C$#+'&98B$7*8'
&$3$;'6"X9*B&75BE'B&5'S+-^$978'#+7%"9,$BC8'%6+/8B&78['$98'C$#+'6$-,78-%#*8'"B&8%,7*B,0+'
0',0+-&87*"'*'-8$9*&$BC*'6+9*,5#'6"X9*B&75BEI'(5%,$-B&5'0%6+^7*8?',$#*8'-+&0*D&$7*$['C$#'
,0+-&87*8'0%6`975BE'&8%6+/`0'+'BE$-$#,8-&8'3+-$3B&5^'*'*7*BC$,5075^['B&5'0&$C8^78'
*7S+-^+0$7*8' %*e' +' 69$7+0$75BE' #*8-"7#$BE' 3&*$/$97+KB*[' 0' -$^$BE'+#-8K9+75BE' 6-&8&'
#9"B&+08' &$%$35' 0%6+^7*$78C'0B&8K7*8C' 6+^+B7*B&+KB*['%"08-877+KB*' %,-+7[' 6$-,78->
%,0$['8S8#,507+KB*['"B&B*08C'#+7#"-87BC*'*'C$07+KB*I'
' =*9#"98,7*8'3+K0*$3B&87*$'&0*D&$78'&'S"7#BC+7+0$7*8^'"%,$05'3+6-+0$3&*/5'3+'6-$B'
7$3'C8C'7+089*&$BCD['#,`-$'08%&/$'0'h5B*8'0'%,5B&7*"'LPWP'-+#"I'k837D'&'6-&8%/$78#'06-+>
0$3&87*$'&^*$7'X5/$'6+,-&8X$'"89$%,5B&7*87*$'6-+B83"-'&0*D&$75BE'&8'&98B$7*8^'&$3$;'
6"X9*B&75BEI'(6-+0$3&+78'&+%,$/5'"%6-$07*87*$'0'6-+B83"-&8'+,0$-,8A+'#+7#"-%"'+S8-,['
,$#*8'C$#'%#-`B87*8'^*7*^$978A+',8-^*7"'7$'&A/$%&$7*8'+S8-,'B&5'9*#0*3$BC$'A878-"CDB8A+'
&Xe378'#+%&,5'+X+0*D&#"'+A/$%&$7*$'#+7#"-%`0'0'6-$%*8I'i$$#B87,+0$7+'6+,-&8Xe'%*9>
7*8C%&8A+'"0&A9e37*87*$'_A/+%"'<<<'%8#,+-$b'0'6-+B83"-$BE'#+7#"-%+05BE'6+6-&8&'"%,$7+>
0*87*8'+X+0*D&#+08A+'"3&*$/"'+%`X'&A/+%&+75BE'6-&8&'+-A$7*&$BC8'6+&$-&D3+08'0'6-$>
B$BE'#+^*%C*I
' J+0+KB*D' X5/+' 06-+0$3&87*8' 6+&$#+7#"-%+05BE' ,-5X`0' &98B$7*$' &$3$;[' B&59*' ,&0I'
^$/5BE'A-$7,`0I')+7$3,+['6-&80*3&*$7+'#*9#$'%5,"$BC*'05CD,#+05BE[',$#*BE'C$#'#9e%#$'h5>
0*+/+0$['#$,$%,-+S$'7$,"-$97$'9"X'$0$-*$',8BE7*B&7$['0'#,`-5BE'^+h9*08'C8%,'6+^*7*eB*8'
6-+B83"-5'#+7#"-%+08CI
' 1+6-8B5&+0$7*"'"98A/5'6-&86*%5'+'6-+A-$^$BE'0%6`/6-$B5['06-+0$3&+7+',8h'+X+0*D>
&8#'#+7%"9,+0$7*$'*BE'#%&,$/,"'&'%8#,+-8^'6+&$-&D3+05^'0'B89"'&-83"#+0$7*$'$%5^8>
,-5B&78A+'BE$-$#,8-"',8A+'6-+B8%"I'=+7%"9,+0$78'^$CD'X5?',$#h8'6-+C8#,5'$#,`0'6-$0$'
^*8C%B+08A+I'Z+'0*eB8C['^8BE$7*&^5'#+7%"9,$B5C78'^$CD'X5?' C$078'a' C837+%,#*'%$^+>
-&D3"',8-5,+-*$978A+'&+%,$/5'&+X+0*D&$78'3+'"BE0$9$7*$'*'"6"X9*B&7*$7*$',-5X"'*BE'6-+>
0$3&87*$' ,$#[' $X5' 0&^$B7*$?' K0*$3+^+K?' 6+3^*+,`0' 6+,87BC$97*8' &$*7,8-8%+0$75BE'
"B&8%,7*B,08^'0'3*$9+A"'+X50$,89%#*^I
' <%,+,75^'7+2"^'%D'-`07*8h'6-&86*%5'+'*7*BC$,50*8'9+#$978C['#,`-$'0'&$/+h87*"'^$'X5?'
*7%,-"^87,8^'+-A$7*B&78C'0%6`/6-$B5'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'&'+-A$7*&$BC$>
^*'6+&$-&D3+05^*['$98',$#h8'&'^*8%&#$;B$^*['+X50$,89$^*'7*8-86-8&87,"CDB5^*'h$375BE'
+-A$7*&$BC*I'.$'+7$'6+98A$?'7$'0%6`978C'-8$9*&$BC*'&$3$7*$'a'X8&'898^87,"'3+,$BC*['$98'&$'
,+'&'^+h9*0+KB*D'"3+%,e67*$7*$'6-&8&'C837+%,#e'%$^+-&D3"',8-5,+-*$978A+'7*8&Xe375BE'
K-+3#`0'-&8B&+05BEI'@X50$,898'^+AD'7$,+^*$%,'+S8-+0$?'%0+CD'6-$Be'%6+/8B&7D['K0*$3>
B&87*$'6*87*eh78'*'-&8B&+08I
' i$'*%,+,75'898^87,'0&^$B7*$7*$'3*$9+A"'+X50$,89%#*8A+'7$98h5'"&7$?'06-+0$3&87*8'
^+h9*0+KB*'6+0+/50$7*$'m$3'1&*$/$97+KB*')+h5,#"')"X9*B&78A+'7$'0%&5%,#*BE'%&B&8X9$BE'
%$^+-&D3"',8-5,+-*$978A+I
' J*8'^+h7$' -`07*8h'6+^*7D?'&$6*%"' +'^+h9*0+KB*',0+-&87*$',&0I'B87,-`0'0%6*8-$7*$'
+-A$7*&$BC*'6+&$-&D3+05BEI'iA+37*8'&'&$%$3D'6-+6+-BC+7$97+KB*'"%,$0$'7*8'6-&80*3"C8'
39$' 7*BE' %&B&8A`978C' S+-^5I'.+AD'X5?' &$-`07+'C837+%,#$^*' +-A$7*&$B5C75^*' 0' -$^$BE'
"-&e3`0[' C$#' *' *7%,5,"BC$^*' ,0+-&+75^*' 6-&8&' %$^8' +-A$7*&$BC8[' #,`-5^' &98B$/+X5' *BE'
6-+0$3&87*8I
8
' G0+-&DB'6-$#,5B&78'7$-&e3&*$['^*89*K^5'K0*$3+^+K?['h8'$%68#,5'6-$078',+'0$-"78#'
#+7*8B&75['$98'7*805%,$-B&$CDB5['C8K9*'BE+3&*'+'*^6"9%'3+'0%6`/6-$B5['+6$-,8C'7$'6$-,78->
%#*BE'&$%$3$BEI'4&,"#$'X"3+0$7*$'-89$BC*'6+98A$'7$'7$3$7*"'*38*'6$-,78-%,0$'6-$#,5B&78>
A+'05^*$-"['0568/7*87*"'C8C'#+7#-8,7D',-8KB*D['057*#$CDBD'&'#+7,8#%,"'%6+/8B&78A+I'
' @,0$-,5'#$,$9+A' S+-^'0%6`/6-$B5'+,0*8-$'6-&83'C8C'"B&8%,7*#$^*'6+98'3+'*77+0$B5C>
75BE'*'7*8#+7087BC+7$975BE'-+&0*D&$;['-`h7+-+375BE['$'6-&5',5^'057*#$CDB5BE'&'9+#$9>
78C' %68B5c#*I'G8A+' -+3&$C"'_+,0$-,$'S"-,#$b'^+h8'C837$#'A878-+0$?'+X$05'057*#$CDB8'
&'6-&5&05B&$C87*$'3+'",-0$9+75BE'%BE8^$,`0'6+%,e6+0$7*$'0'-$^$BE'%&,507+'"%,$9+>
75BE'6-+B83"-I'G-&8X$'6-&5',5^'X-$?'6+3'"0$Ae['*h'%6+/8B&8;%,0+'+X50$,89%#*8'7*8'^$'
3/"A*8C',-$35BC*'0'E*%,+-**'6+0+C8778C')+9%#*'*'7*8'C8%,'^+B7+'&$#+-&87*+78'0'K0*$3+^+KB*'
+X50$,89*I'Z+'0*eB8C' a'0B&8K7*8C%&8'3+K0*$3B&87*$'A878-"CD'0&$C8^7D'7*8"S7+K?['05>
7*#$CDBD'&'",-0$9+75BE'%,8-8+,56`0I'J*8'C8%,',+'C8357$'6-&8%&#+3$['%,+CDB$'7$'3-+3&8'3+'
8S8#,5078C'0%6`/6-$B5I'4$^+'&38-&87*8'30`BE'-`h75BE'#"9,"-'+-A$7*&$B5C75BE['&'C8378C'
%,-+75'C837+%,#*'$3^*7*%,-$BC*'6"X9*B&78C['&'3-"A*8C'6+3^*+,"'7$98hDB8A+'3+'%8#,+-$'6+>
&$-&D3+08A+['6+0+3"C8'B&e%,+'7*8^+h7+K?'0&$C8^78A+'&-+&"^*87*$I'1+',8A+'3+3$?'^+>
h8^5'7*83+%,$,8B&7D['B&e%,+'6+0*8-&BE+07D'0*83&e['X-$#'3+X-5BE'0&+-B`0['S$%$3+0+K?'
0%6`/6-$B5I'
' m8$9*&"CDB'7$%&'6-+C8#,['6+3Ce9*K^5'6-`Xe'&7*089+0$7*$['7*8#,`-5BE'6-&57$C^7*8C['X$>
-*8-'",-"37*$CDB5BE'%#",8B&78'0%6`/3&*$/$7*8I'<38$'6$-,5B56$BC*'C8%,'C837D'&'#9"B&+05BE'
#$,8A+-**'0'^5K987*"'+'7+0+B&8%75^'*'8S8#,5075^'&$-&D3&$7*"'0'69$7+0$7*"'*'03-$h$7*"'
6+9*,5#'6"X9*B&75BE['#,`-8'X8&6+K-837*+'6-&8#/$3$'%*e'7$'C$#+K?'h5B*$'B&/+7#`0'9+#$978C'
0%6`97+,5I'.$^'7$3&*8Ce['h8'7*7*8C%&$'6"X9*#$BC$['Xe3DB$'6-`XD'+68-$BC+7$9*&$BC*'&$6*%`0'
"%,$05' *' -8#+^873$BC*' 6/57DB5BE' &' X$3$;['6+#$&"CDB$' 0*89+05^*$-+0+K?' &$A$37*87*$['
3$CDB$'#$,$9+A'6+,87BC$975BE'-+&0*D&$;['Xe3&*8'39$')$;%,0$'*7%6*-$BCD'3+'*BE',0`-B&8A+'
05#+-&5%,$7*$'*'&$$3$6,+0$7*$'0'6+%&"#*0$7*"'3-`A'3+'+6,5^$978A+'05#+-&5%,$7*$'9+>
#$975BE'&$%+X`0['6-&5B&57*$CDB'%*e'3+'"6+0%&8BE7*87*$',8A+'6$-$35A^$,"'&$-&D3&$7*$['
$',$#h8'_+3B&$-+0$7*$b'&$A$37*87*$'0%6`/6-$B5['B&8A+'%+X*8'*')$;%,0"'h5B&eI'
(IW
06-+0$3&87*8'W 9
06-+0$3&87*8
(IW

+-$37*#' C8%,' 6"X9*#$BCD['
P#,`-8C' B898^' C8%,' "%6-$0>
7*87*8' 0%6`/6-$B5' C837+>
%,8#' %$^+-&D3"' ,8-5,+-*$978A+'
a' A^*7' 0*8C%#*BE' *' ^*8C%#*BE['
6+0*$,`0' $' 7$08,' %$^+-&D>
3+05BE' 0+C80`3&,0' &' +-A$7*>
&$BC$^*'6+&$-&D3+05^*I'G+['B+'&7$C3"C8'%*e'0'6+-$37*#"[',+'6-`X$'+6*%$7*$'0%6`/6-$B5'
0'%6+%`X'%5%,8^+05I'45%,8^'6+0*7*87'X5?'^+h9*0*8'%&8-+#*'a'+X8C^+0$?'0*898'-+h75BE'
$%68#,`0'0%6`/6-$B5I'k837+B&8K7*8'%5%,8^'+&7$B&$'7$B&57*$'6+/DB&+78'a'7*8'C8%,'&X*+>
-8^'6-&56$3#+05BE'S+-^'*'-+&0*D&$;['^$'0'&$^5K98',0+-&5?'%6`C7D'B$/+K?I
' )+-$37*#' 6+0%,$/' 7$' 6+3%,$0*8' ^+389"' 0%6`/6-$B5' a' 8S8#,"' #*9#"7$%,+^*8%*eB&78C'
6-$B5'A-+7$'+%`X'-86-8&87,"CDB5BE'&$-`07+'6-&83%,$0*B*89*'C837+%,8#'%$^+-&D3"',8-5,+>
-*$978A+['C$#'*'+-A$7*&$BC*'6+&$-&D3+05BE['K-+3+0*%#'7$"#+05BE'+-$&'%,-+75'-&D3+08CI'
' )+-$37*#'C8%,'6-`XD'6-&83%,$0*87*$'^+389"'0'%6+%`X'"h5,#+05['6-&5C$&75'+3X*+-B5I'
19$,8A+',8h'&$0*8-$'*7S+-^$BC8'+'-+&0*D&$7*$BE'%,+%+0$75BE'0'6-$#,5B8['05^*87*$'#+>
-&5KB*['C$#*8'7*8%*8'&$'%+XD'0%6`/6-$B$['6+38C^"C8'%*e'+#-8K987*$'0&+-B`0'^*7*^$975BE'
*'S+-^"/+0$7*$'07*+%#`0I
'
' )"X9*#$BC$'C8%,'3835#+0$7$'30`^'%,-+7+^'0%6`/6-$B5'a'+-A$7*&$BC+^'6+&$-&D3+05^'
*'C837+%,#+^'%$^+-&D3"',8-5,+-*$978A+I'
' (',-$#B*8'6-$B'7$3'C8A+'&$0$-,+KB*D'"%,$9*9*K^5'-&8B&'0'&$%$3&*8'+B&50*%,D'a'#9"B&+05^'
$%68#,8^'0%6`/6-$B5'C8%,'6+%,$0$'6-&83%,$0*B*89*'%$^+-&D3"',8-5,+-*$978A+I'19$B&8A+r'
G+'6+'%,-+7*8'"-&e3+08C'&7$C3"C8'%*e'0*e#%&+K?'&$%+X`0'a'c7$7%+05BE'*'^$CD,#+05BE'
n6$-,78-%,0+'+6*8-$CDB8'%*e'7$'-`078C'-89$BC*'C8%,'+B&50*KB*8'^+h9*08['6+7*80$h'6+,87BC$/'
9"3&#*[' $'&0/$%&B&$'6+^5%/5['*388['#-8$,507+K?['B&59*',+['B+'38B53"C8'+'6+0+3&87*"'08'
0%6`/B&8%75^'K0*8B*8'C8%,'3+^87D'+-A$7*&$BC*oI'
11
.#%/012+#3/-4"#(56%/
7/%68%#/9*%#1:9;%/(8#/4(<64"02
8+'&")=4%?'0%.+
2$"/.&'")#4"#AB#4@A-$)C/6&"75)D'#0'@7)E6+-@4&$0)>3'?/-#6$-F)CDE>)
0)D$:6+.71)-#?'6/.)#4"#AB7)>+/-+)>8GHI1)&"/6/")+)46+54&'"
Czym jest
poradnik?
Dla kogo jest poradnik?
06-+0$3&87*8
(IL

' G+' %,-+7$' "-&e3+0$' -86-8&87,"C8' S+-^$97*8' %6-$0+0$7D' 0/$3&e' a' 38B5&C8[' *7*BC$BCe'
0*89"' 6-+B8%`0' S+-^$975BEI' G8' 6+,+B&78' +X%8-0$BC8' &7$9$&/5' A/eX+#*8' "&$%$37*87*8'
0'6-&86-+0$3&+75BE'0'-$^$BE'6-+C8#,"'X$3$7*$BE'a'X8&'3+X-8C'0+9*'*'&$*7,8-8%+0$7*$'
0%6`/6-$BD'7$08,'7$C986%&8'-+&0*D&$7*$'6-$078'7*B&8A+'7*8'07+%&DI'19$,8A+',8h'6+-$3>
7*#'^$'%/"h5?' &0/$%&B&$' 6-&83%,$0*B*89+^' $3^*7*%,-$BC*'%$^+-&D3+08C' C$#+' 6"X9*#$BC$['
0'#,`-8C'&7$C3D'0*898'+36+0*83&*'7$'7"-,"CDB8'65,$7*$I'J*8'+&7$B&$',+'C837$#['h8'+-A$7*>
&$BC8'7*8'&7$C3D'0'7*^'7*B'39$'%*8X*8I'('0*89"'6-&56$3#$BE'*7*BC$,50$'6+3CeB*$'3&*$/$;'
^+h8'98h8?'6+'%,-+7*8'+-A$7*&$BC*I')+-$37*#'Xe3&*8'39$'7*BE'"h5,8B&75^'0%6$-B*8Î'.+h8'
X5?'s-`3/8^'0*83&5'7$',8^$,'-+&0*D&$;'"%,$0+05BE['%5,8^"'6-$078A+'a'6"X9*#$BCD['#,`>
-$'&7$B&7*8'"/$,0*'6+-"%&$7*8'%*e'6+'"-&e3$BEI'
' )+-$37*#'7*8'&$3+0+9*',5BE['#,`-&5'+B&8#"CD'KB*DA$0#*'6+&0$9$CDB8C'03-+h5?'0'A^*7*8'
C837+'05X*`-B&8'-+&0*D&$7*8['%#+6*+0$78'&'X$&5',&0I'3+X-5BE'6-$#,5#I'(',-$#B*8'35%#"%C*'
7$3'^+3898^'6+0%,$/+'7$08,'#*9#$'^8,$S+-'^$CDB5BE'6+#$&$?'7$%&8'&$^*8-&87*$I')-&5,+>
B&e'%#+C$-&$7*8't#"9*7$-78'05^5K9+78'6-&8&'!"#$%&$'($%&$#$I'
' (5+X-$s^5'%+X*8'#%*Dh#e'#"BE$-%#D['&'#,`-8C'05B*DA7*8^5'A+,+05'6-&86*%'7$'&"6e'9"X'
6+6*%+08'3$7*8['#,`-8'^$^5'&$^*$-'&$%8-0+0$?'6-&5%&/5^',8KB*+Î'G+'7*8'C8%,'*38$['#,`-$'
,+0$-&5%&5/$',0`-B+^'6+-$37*#$I'J$%&5^'6+^5%/8^'X5/+'%,0+-&87*8'#%*Dh#*'3+,5B&DB8C'
6-$0*3/+08A+'h50*87*$'B$/8C' -+3&*75I'19$B&8A+r')+7*80$h'C"h',8-$&'^+h8^5'6+BE0$9*?'
%*e'B*8#$05^'&8%,$08^'6+6*%+05BE'3$;I')-+X98^'0',5^['h8',+'7*8'C8%,'C83&87*8'&3-+08['
$'7$%&$'-+3&*7$'&$B&57$',+'X$-3&+'+3B&"0$?'*'6+3"6$3$'7$'&3-+0*"I'
' H7$9+A*B&7*8'05A9D3$'%5,"$BC$'+-A$7*&$BC*'6+&$-&D3+05BE'0'-89$BC*'&'C837+%,#$^*'%$^+>
-&D3"',8-5,+-*$978A+I'k837+%,#+05BE'6-&5#/$3`0'3+X-5BE'*'B*8#$05BE'-+&0*D&$;'7*8'X-$>
#"C8I'J$',8'6+C8357B&8'6-$#,5#*'BEe,7*8'6+0+/"CD'%*e'0%&5%,#*8'%,-+75'0%6`/6-$B5['$',$#h8'
$",+-&5'6+-$37*#$I'J$,+^*$%,'B*DA98'B*8-6*^5'7$'7*83+%,$,8#'6-&5#/$3`0'%,-$,8A*B&78A+'
6+38CKB*$'3+'-89$BC*'A^*7['6+0*$,`0'*'+-A$7*&$BC*'6+&$-&D3+05BEI'Z*DA98'0%6`/6-$B$'+3>
X50$'%*e'3+-$s7*8['^$'BE$-$#,8-'05-50#+05['7*8'C8%,'&$69$7+0$7$'7$'9$,$I'J*8%,8,5'7*8'
C8%,',8h'+6$-,$'7$'-&8,8978C'$7$9*&*8'6+,-&8X'^*8%&#$;B`0'3$78C'C837+%,#*'%$^+-&D3"',8>
-5,+-*$978A+I')+-$37*#'%,$0*$'%+X*8'$^X*,75'B89'&^*$75',8A+'%,$7"'-&8B&5I
' (',-$#B*8'6-$B'7$3'^+3898^'*'6+-$37*#*8^'+3X50$/5'%*e'%6+,#$7*$'7$'0*89"'-`h75BE'
%&B&8X9$BEI'(*8^5'3+%#+7$98['h8'0*89"'"-&e37*#`0'+B&8#"C8'+3'6+-$37*#$'A+,+05BE'-+&>
0*D&$;['#,`-8'7$%&5^'&3$7*8^'%D'3-+AD'7$'%#-`,5I'k837+B&8K7*8'^$^5'3+0+35'7$',+['h8'
&$A$37*87*$'0%6`978A+'69$7+0$7*$'*'3*$A7+&+0$7*$'^*8%&#$;B`0['05,5B&$7*$'#*8-"7#`0'
3&*$/$;'0'+B&$BE'$3^*7*%,-$BC*'9+#$978C'%D',-$#,+0$78'6+X*8h7*8['^$-A*7$97*8I'G$#'X5?'7*8'
6+0*77+I'
' )+-$37*#'7*8'C8%,'0*eB'&8%,$08^'39$',5BE['#,`-&5'%&"#$CD'3-+A*'7$'%#-`,5I'G+'^$,8-*$/'39$'
,5BE['#,`-&5'BEBD'&$CD?'%*e'0%6`/6-$BD['$'7*8'C8C'^$-#+0$7*8Î'
'
'
)+-$37*#'6+3&*89+75'C8%,'7$',-&5'B&eKB*I')*8-0%&$'&'7*BE'%#/$3$'%*e'&
0%,e6"'3+,5B&DB8A+'6-+C8#,"['0'-$^$BE'#,`-8A+'6+0%,$/$'6"X9*#$BC$[
*7%,-"#BC*'+X%/"A*[#-`,#*8A+'6-&8A9D3"'X$3$;['7$'6+3%,$0*8'#,`-5BE'6+0%,$0$/5'
#+98C78'898^87,5'&^*8-&$CDB8'3+'%,0+-&87*$'^+389"'*'6+-$37*#$['
$-,5#"/"'7$',8^$,'E*%,+-**'#%&,$/,+0$7*$'%*e'0%6`/6-$B5'+-A$7*&$BC*'6+&$-&D3+>
05BE'&'C837+%,#$^*'%$^+-&D3"',8-5,+-*$978A+'6+'WQVQ'-+#"I'
' )+'B+' ,+'0%&5%,#+r'ZEB8^5'X5?'#+7%8#087,7*I')+-$37*#' &$#/$3$[' h8'0%6`/6-$B$' C8%,'
^+h9*0$',59#+'0,835['#*835'+6*8-$'%*e'7$'-&8,8978C'3*$A7+&*8I'1+#/$37*8',$#D'%$^D'S"7#BCe'
^$'%68/7*?'6*8-0%&$'B&eK?'6+-$37*#$I
' )+'6*8-0%&8'+36+0*$3$'7$'65,$7*8['*%=(/916='/*6,/-4"#(56%'*'C$#*8'X5/5'+B&8#*0$7*$'
^*7*%,8-%,0$'B+'3+'C8A+'&0$-,+KB*r')+'3-"A*8'6+36+0*$3$['>#%/1/56;?4/%4"12*+#3I')+',-&8>
B*8'+6*%"C8'-+&0`C'%5%,8^"'*'S+-^'0%6`/6-$B5'6+'WQVQ'-+#"I'(*898'&'+X8B7*8'%,+%+0$>
75BE'-+&0*D&$;'^$'%0+C8'"&$%$37*87*8'0'6-+B8%*8'-+&0+C"'6-$0$'*'6-$#,5#*['#,`-5',+B&5/'
12
Czym poradnik nie jest?
!"#$%&'(")$*+,"-./#0
%*e' 0' B*DA"' +%,$,7*BE' LP' 9$,I' 1&*%*$C' B&e%,+' %,+%"C8^5'68078' -+&0*D&$7*$'X8&' -8q8#%C*'
*' &7$C+^+KB*' *7,87BC*' *BE' 6+^5%/+3$0B`0I' )-`X"C8^5' &$,8^'+36+0*83&*8?' 7$'65,$7*8['
*%=(/4<;05#/*2+@#0>#A
' )-&8A9D3'057*#`0'X$3$;'6+&0+9*'+36+0*83&*8?[' >#%/4<;05#/*2+@#0>#/92?8=(#[' C$#*8'
3$78'"3$/+'%*e'6+&5%#$?'0',-$#B*8'6-&86-+0$3&+75BE'X$3$;'+-$&'C$#',+'-&","C8'7$'S+-^+>
0$7*8'0%6`/6-$B5I'
' Z&eK?'3-"A$'6+-$37*#$'C8%,'C8A+'8%87BCDI'G+',$'B&eK?'+%$3&+7$'C8%,'B$/#+0*B*8'7$'^+38>
9"'0%6`/6-$B5'*'%,$7+0*'C8A+'S+-ê'+6*%+0DI
' .+389'6+%*$3$'%0+*%,D'+K['898^87,['#,`-5'^$'BE$-$#,8-'6-&8#-+C+05I'.+0$'+'&$%$3$BE'
05^*87*+75BE'0'=/5$-'+)")%8'$2$,&">3')0"?45(6)067,'38&+9")')")-","&5$#'$3'+['#,`-$'-8A">
9"C8'-89$BC8'7$'9*7**'+-A$7*&$BC8'a'$3^*7*%,-$BC$I'd%,$0$'05^*87*$'&$%$35'6+^+B7*B&+KB*['
%"08-877+KB*'%,-+7['6$-,78-%,0$['8S8#,507+KB*['"B&B*08C'#+7#"-87BC*' *' C$07+KB*I'k8%,' ,+'
898^87,'0%6`975'6+^*^+'-`h75BE'68-%68#,50'*'6+38CKB*$'3+'0%6`/6-$B5'&8'%,-+75'+-A$>
7*&$BC*'6+&$-&D3+05BE'*'$3^*7*%,-$BC*I'i'C8378C'%,-+75'&$%$35'^$CD'BE$-$#,8-'0*&5C75'a'3+>
,5B&D'68078A+'%,$7"'6+hD3$78A+'*'*38$978A+['&'3-"A*8C'C837$#'a'%D'"^+B+0$78'"%,$0+>
0+['B+'39$'3&*$/$;'$3^*7*%,-$BC*'6+-"%&$CDB8C'%*e'0'+X-eX*8'6-$0$'^$'#9"B&+08'&7$B&87*8I'
' ('B&eKB*' <<'6+-$37*#$' B&5,897*#' &7$C3&*8'05^*87*+78'6+05h8C'&$%$35'&*7,8-6-8,+0$>
78'7$'0*898'-`h75BE'%6+%+X`0['05%,e6"CDB8'0'0*89"'-`h75BE'%5,"$BC$BE'a'0'&$98h7+KB*'
+3',8A+[' C$#*8'&$A$37*87*8'Xe3&*8'+^$0*$78I'('6-$#,5B8'*7$B&8C'6-&8C$0*$'%*e'"B&B*0$'
#+7#"-87BC$'7$'8,$6*8',0+-&87*$'6-+A-$^"'0%6`/6-$B5['$'*7$B&8C'0',-$#B*8'#+7#"-%"'7$'
-8$9*&$BCe'&$3$;'6"X9*B&75BEI'
' k$#'7$98h5'-+&"^*8?',$#'B&e%,8'8#%6+7+0$7*8'&$%$3r'k8%,',+'0/$K7*8'3Dh87*8'3+'^+38>
9"'*38$978A+'a'0568/7*87*8'*BE',-8KB*['&-8$9*&+0$7*8'&$%$3'0'6-$#,5B8'&"68/7*8'+3^*87*/+>
X5'-89$BC8'6+^*e3&5'30+^$'%,-+7$^*I'4,$/5X5'%*e'+78'X$-3&*8C'6-&8C-&5%,8['-`07*8C%&8['6+'
6-+%,"'986%&8I
' i$A$37*87*8'0%6`/6-$B5'+-A$7*&$BC*'6+&$-&D3+05BE'*'C837+%,8#'%$^+-&D3"',8-5,+-*$9>
78A+'6+3&*89+7+'7$',-&5'X9+#*['7$&50$78'0',8#KB*8'_6/$%&B&5&7$^*bI
12*34*,"%"$9;-.+2(;#$2"5+,&6-7$(;,'(+,/"<.;8+$/$+,8"./&"%9/$
*+&",&6-+:'%?$:$&"#,;2/;$(:+,&;./"$*+</('#$*7></%&.'%?
' )-&8&'-486+2%,/-@<86015='-+&"^*8^5'B$/+K?'3/"A+S$9+05BE'&$^*8-&8;'*',+0$-&5%&DB5'
*^' %5%,8^' -+&0*D&$;' 6-$075BE[' 6-&5Ce,5BE' *' -8$9*&+0$75BE' 6-&8&' 0/$3&e' 6"X9*B&7D'08'
0%6`/6-$B5' &'+X50$,89$^*[' +-A$7*&$BC$^*' 7$' -&8B&' %6+/8B&7+KB*' &$^*8%&#"CDB8C' +X%&$-'
3&*$/$7*$'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'nk4GoI'
' G$'B&eK?'6+-$37*#$'+6*%"C8'-+&0*D&$7*$'0'&$#-8%*8'%&8KB*"'+X%&$-`0'3*$A7+&5'6+,-&8X'
9+#$975BE'nWo['0&$C8^78A+'*7S+-^+0$7*$'%*e'%,-+7'0%6`/6-$B5'+'6+38C^+0$75BE'3&*$/$>
7*$BE'nLo['0%6`/,0+-&87*$'3+#"^87,`0'%,-$,8A*B&75BE'*'0*89+98,7*BE'n]o['#+7%"9,+0$7*$'
6-$0$'9+#$978A+'nMo['03-$h$7*$'6+9*,5#'6"X9*B&75BE'nNo'+-$&'*BE'^+7*,+-+0$7*$'*'80$9"$BC*'
nloI
12*34*,"%"$2"5+,&6-7$&$+,8"./&"%9"5/$*+&",&6-+:'5/$
:$&"#,;2/;$,;"</&"%9/$&"-"=$*7></%&.'%?
' i$3$7*$' 6"X9*B&78' ,+' 3&*$/$7*$' 6+38C^+0$78' 6-&8&' $3^*7*%,-$BCe' %$^+-&D3+0D' 7$'
6+3%,$0*8' "%,$0' +#-8K9$CDB5BE' *BE' &$#-8%' #+^68,87BC*I' )/$%&B&5&7$' &$0*8-$' 0*eB' +6*%'
0%6`/6-$B5'%$^+-&D3"'&'+-A$7*&$BC$^*'6+&$-&D3+05^*'6+3B&$%'-8$9*&$BC*'&$3$;'6"X9*B&>
75BE'&'05#+-&5%,$7*8^'-`h75BE'S+-^'0%6`/6-$B5'c7$7%+08C'nWo['7*8c7$7%+08C'nLo'+-$&'
6$-,78-%,0$'0'-8$9*&$BC*'&$3$;'6"X9*B&75BE'n]o'I
13
@4"2&%&'&."$A
@4"2&%&'&."$AA$
06-+0$3&87*8
(IL
06-+0$3&87*8
(IL

A.B,"2(,7#(7,"$:2*34*,"%'C$
(:+,&;./;$:",7.#3:$-+$2*+4;%&.;9$"#(':.+D%/
' )-&8&' *7S-$%,-"#,"-e' -+&"^*8^5' +A`/' 9+#$97*8' "#%&,$/,+0$75BE' B&577*#`0' 06/50$CD>
B5BE'7$'S"7#BC+7+0$7*8'+-A$7*&$BC*'6+&$-&D3+05BE'+-$&'0%6`/6-$Be'6+^*e3&5'%8#,+-8^'
%$^+-&D3+05^'$',-&8B*^'%8#,+-8^'n6+&$-&D3+05^oI'Z&577*#*',8'0'6+0$h78C'^*8-&8'%,5>
^"9+0$78'%D'6-&8&'3&*$/$7*$'$3^*7*%,-$BC*'9+#$978CI'(',8C'6/$%&B&5s7*8'^*8%&B&D'%*e'&$,8^'
&$-`07+' *7%,5,"BC8' 3&*$/$CDB8' 7$' -&8B&' +-A$7*&$BC*[' 3+,5B&DB8' *BE' 6-$0+' ^*8C%B+08[' C$#'
*'-89$BC8['0&+-B8'6+%,e6+0$;'05%,e6"CDB8'0'3$78C'C837+%,B8'%$^+-&D3"I'G$'6/$%&B&5&7$'
6+3&*89+7$'&+%,$/$' 7$'+X%&$-5'%5%,8^'0%6*8-$7*$' *7*BC$,50'+X50$,89%#*BE' *' +-A$7*&$BC*'
6+&$-&D3+05BE'nWo['0%6*8-$7*8'6-+B8%`0'*7,8A-$BC*'+-A$7*&$BC*'nLo['6$-,78-%,0+'9+#$978'n]oI
' =$h35'&'-+&3&*$/`0'6+K0*eB+75BE'6/$%&B&5&7+^'6+0%,$/'0A'+#-8K9+78A+'%BE8^$,"I'
' )/$%&B&5&75'&+%,$/5'-+&X*,8'7$'+X%&$-5'a',+',87'6+7"^8-+0$75'S-$A^87,'+6*%"'6/$%&>
B&5&7I'('+6*%*8'+X%&$-`0'&7$C3"CD'%*e'+30+/$7*$'3+'0%6+^*7$75BE'6+05h8C'&$%$3'"%,$>
0+05BEu' +6*%' 7$-&e3&*' *'0&+-B8[' &$' 6+^+BD' #,`-5BE'^+h8'X5?' -8$9*&+0$7$' 0%6`/6-$B$'
0'3$75^'+X%&$-&8' n0' &38B53+0$78C' 0*e#%&+KB*' %D' ,+' 6-&50+/$7*$' -+&0*D&$;' 6-+6+7+>
0$75BE' 6-&8&'=/5$-@)") %8'$2$,&">3')0"?45(6) 067,'38&+9") ') ")-","&5$#'$3'+oI'=+98C75' 898>
^87,'+6*%"'+X%&$-`0',+'6-&50+/$7*8'%,+%+0$75BE'-+&0*D&$;'a'6-$#,5#['#,`-8'C"h'0')+9%B8'
S"7#BC+7"CDI'=9"B&+05^'898^87,8^'&'6"7#,"'0*3&87*$'+3X*+-B5'C8%,'05,5B&87*8'0&+-B`0'
^*7*^$975BE['#,`-8'6+0*775'+X+0*D&50$?'0'#$h38C'C837+%,B8'%$^+-&D3"',8-5,+-*$978A+'
0')+9%B8I'('*775^'056$3#"'-89$BC8'^*e3&5'+-A$7*&$BC$^*'$'$3^*7*%,-$BCD'%$^+-&D3+0D'
7*8'6+0*775'X5?'7$&50$78'0%6`/6-$BDI'Z+'0$h78['0&+-&8B'^*7*^$975'7*8'+6*%"C8'%,$7"'
&$%,$78A+'a'BEe?'3+%,+%+0$7*$'%*e'3+',8A+'0&+-B$'Xe3&*8'05^$A$?'+3'0*89"'%$^+-&D3`0'
05%*/#"I'G+',$#h8',+'^*8C%B8['0'#,`-5^'+-A$7*&$BC8'6+0*775'%&"#$?'%0+C8A+'6+9$'$#,507+>
KB*'*'^+h9*0+KB*'06/50$7*$'7$'0/$3&8'9+#$978I'
' @6*%'+X%&$-`0'#$h3+-$&+0+'&$^#7*e,5'C8%,'07*+%#$^*'*'05^*87*87*8^'#+-&5KB*['#,`>
-8'6/57D'&'C8A+'%,+%+0$7*$I'G87'%$^'&$X*8A'&$%,+%+0$7+',$#h8'0'+37*8%*87*"'3+'B$/5BE'
6/$%&B&5&7'a'&$98h5'7$^'7$'05#$&$7*"['h8'0%6`/6-$B$'0'08-%C*'^+389+08C'C8%,'#+-&5%,7$'
39$'0%&5%,#*BE'&$*7,8-8%+0$75BEI'
' )+-$37*#'0%#$&"C8['0'*9"'-`h75BE'+X%&$-$BE'6+0*775'&+%,$?'7$0*D&$78'-89$BC8'+-A$7*>
&$BC*'*'$3^*7*%,-$BC*['$X5'^`B'C8'7$&50$?'0%6`/6-$BD['h8X5'^*$/5'+78'%87%['X5/5'#+7%,-"#>
,5078'*'B+'7$C0$h7*8C%&8'a'#+-&5%,78'39$'%6+/8B&7+KB*'9+#$978CI'
' (%6`/6-$B$'05%,e6"C8'0,835['#*835'3+,5B&5'0%&5%,#*BE'+X%&$-`0'*'0%&5%,#*BE'6/$%&>
B&5&7'+#-8K9+75BE'0'6+-$37*#"['+-$&'+36+0*$3$'B+'7$C^7*8C'0&+-B+0*'^*7*^$978^"I'i$>
,8^'%5,"$BC*['0'#,`-8C'^*$%,+'6+%*$3$'3+%#+7$/8'-+&0*D&$7*$'0'&$#-8%*8')/$%&B&5&75'L'*'76I'
6+0*8-&$'+-A$7*&$BC+^'6-+0$3&87*8'^*8C%#*BE'69$B`08#'+K0*$,+05BE['$98'7*8'3+6"%&B&$'
*BE'3+'056+0*$3$7*$'%*e'nB+'7*8'C8%,'-`07+&7$B&78'&'6+38C^+0$7*8^'38B5&C*'&$%,-&8h+>
75BE'39$'0/$3&'9+#$975BEvo'7$',8^$,'6-&5%&/+KB*',5BE'69$B`08#['7*8'^+h7$'7$&0$?'3+X-D'
0%6`/6-$BDI'G+'7$,+^*$%,'6-&5#/$3'/$^$7*$'&$%$3['#,`-8'%D'7*8&^*8-7*8'0$h78'X8&'0&A9e>
3"'7$',+['+'#,`-5^'+X%&$-&8'0%6`/6-$B5'^`0*^5I'
' G-8KB*' 6+-$37*#$' 7*8' 6+3&*89+7+' 0A' 0*89+KB*' C837+%,8#' %$^+-&D3"' ,8-5,+-*$978A+' a'
"h5,#+07*#'%$^'^"%*'&38B53+0$?['C$#*8'7$-&e3&*$'*'0&+-B8'%D'^+h9*08'3+'&$%,+%+0$7*$'
7$'C8A+',8-87*8I'(%6`/6-$B$'^"%*'X5?'+6$-,$'7$'-8$975BE'^+h9*0+KB*$BE['*%,7*8CDB5BE'&$>
%+X$BE['9+#$978C'#"9,"-&8'*'"0$-"7#+0$7*$BEI'(-8%&B*8'a'7$'-&8,8978C'3*$A7+&*8I'
14
!"#$&"(;5$#+,&'2(")$&$(;9$%&ED%/$*+,"-./#"0
' Z&eK?',-&8B*$'6+-$37*#$'&$0*8-$'6*e?',8#%,`0'3+3$,#+05BE['#,`-8'&38B53+0$9*K^5'%*e'
3+/DB&5?'3+'6+-$37*#$['A35h'&'6"7#,"'0*3&87*$'C8A+'B$/+KB*'3+%,$-B&$CD'7*8&^*8-7*8'0$h>
78C'0*83&5'7$' ,8^$,'0%6`/6-$B5' +-A$7*&$BC*'6+&$-&D3+05BE' *' C837+%,8#'%$^+-&D3"',8>
-5,+-*$978A+I')*8-0%&5'&'7*BE',+'+6*%'A^*7['0'#,`-5BE'0%6`/6-$B$'+3X50$'%*e'0'%6+%`X'
&$69$7+0$75'*'^+h8'X5?'*7%6*-$BCD'39$'*775BE'%$^+-&D3`0I'H-,5#"/'+6*%"C8'B&,8-5'A^*75'
&-`h7*B+0$78'6+3'#D,8^'0*89#+KB*'*'&$%,+%+0$75BE'-+&0*D&$;'a'B&5,897*#'^$'+#$&Ce'&$>
6+&7$?'%*e'&'-+&0*D&$7*$^*'%,+%+0$75^*'0'A^*7*8'0*8C%#*8C'&'C8378C'%,-+75'*'0'($-%&$0*8'
a' &' 3-"A*8CI')+-$37*#' 3+,5B&DB5' 0%6`/6-$B5' +-A$7*&$BC*' *' $3^*7*%,-$BC*'6+0*7*87' &$0*8>
-$?'+B&50*KB*8'0%#$&`0#*'3+,5B&DB8',0+-&87*$'3+#"^87,"['7$'#,`-5^',$'0%6`/6-$B$'C8%,'
+6$-,$['B&59*'6-+A-$^"'0%6`/6-$B5I'<',+'&7$C3&*8'B&5,897*#'0',8#KB*8'3-"A*^I'=+98C75'$-,5>
#"/'3+,5B&5'%,$73$-5&$BC*'"%/"A'6"X9*B&75BEI'G8^$,'&98B$7*$'+-A$7*&$BC+^'6+&$-&D3+05^'
&$3$;'6"X9*B&75BE'C8%,'B+-$&'B&eKB*8C'6-&83^*+,8^'38X$,5'6"X9*B&78CI'('#-$C$BE'05%+#+'
-+&0*7*e,5BE'C8%,',+'B+3&*877$'6-$#,5#$['#,`-$'C8%,'#0*7,8%87BCD'&$%$35'6+^+B7*B&+KB*['
$98',$#h8'%6+%+X8^'7$'-$BC+7$978'053$0$7*8'K-+3#`0'6"X9*B&75BEI'=08%,*$',$'05^$A$'
C837$#'+6-$B+0$7*$'%,$73$-3`0'"%/"A'6"X9*B&75BE'*',8A+'3+,5B&5'6-&83+%,$,7*'&'&$^*8%&>
B&+75BE'$-,5#"/`0I')-&83+%,$,7*',8#%,',+'*7S+-^$BC$'+'A'+87@%&'(6)%")B/$*"C"3+&4)-/012-
0#$34['#,`-5'^+h7$'&7$98s?'7$'6/5B*8'&$/DB&+78C'3+'7*7*8C%&8A+')+-$37*#$I'@%,$,7*'$-,5#"/'
&+%,$/'6+K0*eB+75'#9"B&+08C'39$'6+9*,5#'8"-+68C%#*BE'#08%,**'-`07+KB*'%&$7%I
A.B+,5"%9;$-+-"(#+:;
' )+-$37*#'&+%,$/',$#'&$69$7+0$75'A-$cB&7*8['$X5'^$#%5^$97*8'"/$,0*?'#+-&5%,$7*8'&'C8A+'
&$0$-,+KB*I'1+,5B&5',+'&0/$%&B&$'B&eKB*'3-"A*8C['#,`-$'05^$A$'+3'B&5,897*#$'"^*8Ce,7+KB*'
6+-"%&$7*$'%*e'6+^*e3&5'6/$%&B&5&7$^*'*'+X%&$-$^*I'
' )+-$37*#'+6-$B+0$75'&+%,$/'7$'6+,-&8X5'+X530"'6$-,78-`0'0%6`/6-$B5'>'&$-`07+'+->
A$7*&$BC*'6+&$-&D3+05BE['C$#'*'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'n0',8#KB*8'+#-8K9$75BE'
0'%#-`B*8'_%$^+-&D38^b'9"X'_%$^+-&D38^',8-5,+-*$975^boI')+CeB*8'+-A$7*&$BC*'6+&$-&D3+>
05BE'&$0*8-$'-`07*8h'6+3^*+,5'05^*87*+78'0'$-,I']I'"%,I']'=/5$-4)")%8'$2$,&">3')0"?45(6)
067,'38&+9")')")-","&5$#'$3'+['7$,+^*$%,'%$^+-&D35'%D',"'-+&"^*$78'C$#+'+-A$7'"BE0$/+>
3$0B&5['05#+7$0B&5'*'6+398A/8'^"'C837+%,#*'+-A$7*&$B5C78I'('+37*8%*87*"'3+'+-A$7*&$BC*'
6+&$-&D3+05BE['0',8#KB*8' %,+%"C8' %*e' &$^*877*8',$#*8' 6+CeB*$' C$#' +-A$7*&$BC8['Jp@[' <<<'
%8#,+-I
' 1+'6+-$37*#$'3+/DB&+7+',$#h8'6/5,e'&$0*8-$CDBD'3+3$,#+08'*7S+-^$BC8['0&+-5'3+#">
^87,`0['057*#*'X$3$;'+-$&'7$-&e3&*8'6+&0$9$CDB8'C837+%,#+^'%$^+-&D3"',8-5,+-*$978A+'
3+#+7$?'$",+80$9"$BC*'C$#+KB*'0%6`/6-$B5I'
'
'
' )+-$37*#',+'057*#'6-$B5'3"h8C'A-"65'+%`XI'Z&eK?'X$3$0B&D'&-8$9*&+0$/5'<7%,5,",'46-$0'
)"X9*B&75BE['Z+998A*"^'Z*2*,$%'+-$&'g+-"^'H#,50*&$BC*'@X%&$-`0'(*8C%#*BEI
' (56-$B+0$78',"' -$6+-,5'B&D%,#+08' &'X$3$;'*'8#%68-,5&5'+-$&'7$-&e3&*8'&$,5,"/+0$>
78'<738#%'k$#+KB*'(%6`/6-$B5'X5/5'05#+-&5%,$78'0'6-$B$BE'7$3'+6-$B+0$7*8^'^+389"'
0%6`/6-$B5'*'6-&5A+,+0$7*8^'6+-$37*#$I
' .+389' 0%6`/6-$B5' 6+0%,$/' 0' 057*#"' 6-$B' #+^*,8,"' 8#%68-,`0' +-$&' 6+^+B7*B&5BE'
0' %,+%"7#"' 3+' 7*8A+' A-"6' -+X+B&5BEI' (5^*87*+78' B*$/$' %#/$3$/5' %*e' &' 6-&83%,$0*B*89*'
0%&5%,#*BE'6$-,78-`0'6-+C8#,"['$'6-+0$3&+78'X5/5'6-&8&'4*8?'(%6*8-$7*$'@-A$7*&$BC*')+>
&$-&D3+05BE'4)F@GI'
' )+3%,$0+05'^$,8-*$/'3+'6-$B'7$3'^+3898^'*'6+-$37*#*8^['X8&'#,`-8A+'6-$B8'7*8'7$>
X-$/5X5'+%,$,8B&78A+'#%&,$/,"['&$03&*eB&$^5'A-"6+^'05^*$75'3+K0*$3B&8;['B&59*'6-$B5'
6-&83%,$0*B*89*'C837+%,8#'%$^+-&D3"',8-5,+-*$978A+'7$3&+-+0$78C'6-&8&'i0*D&8#' .*$%,'
)+9%#*BEI'
' 1+X`-'+%`X['#,`-8'6-&5A+,+0$/5'+%,$,8B&78',8#%,5'3+'6+-$37*#$['+6*8-$/'%*e'7$'BEeB*'
&$BE+0$7*$'-`h7+-+37+KB*'6"7#,`0'0*3&87*$'a'&0/$%&B&$'%$^+-&D3+08A+'*'6+&$-&D3+>
08A+I'.$^5'7$3&*8Ce['h8'+%,$,8B&75'8S8#,'%68/7*'+B&8#*0$7*$'+3X*+-B`0I'
15
F$"7(+,"%?$
06-+0$3&87*8
(IL
@4"2&%&'&."$AAA
06-+0$3&87*8
(IL

H*%,+-*$'0%6`/6-$B5'6+^*e3&5'+->
A$7*&$BC$^*'6+&$-&D3+05^*'$'%$>
^+-&D38^'9+#$975^'0')+9%B8'6+'
WQVQ'-+#"',+'0'3"h8C'^*8-&8'+6*%'&^*$7'
0' K0*$3+^+KB*' %6+/8B&78C[' ,0+-&87*$'
%*e' &-eX`0' 7+08A+' %5%,8^"' 6-$078>
A+' *' 6+0%,$0$7*$' 7+05BE' *7%,5,"BC*I'
H7$9*&"CDB' #+98C78' 8,$65' -+&0+C"' ,8C'
0%6`/6-$B5['6-&5#/$35'*7*BC$,50'n,$#h8'
,5BE[' #,`-8' 7*8' &$#+;B&5/5' %*e'68/75^'
%"#B8%8^o' ^+h8^5' 986*8C' &-+&"^*8?'
&$98,5'*'0$35'%,$7"'+X8B78A+['&$%,$7$>
0*$?'%*e'7$3'8087,"$975^*'#+-8#,$^*I'
' @A`97*8['+#-8%'6+^*e3&5'WQVQ'-+#"'
$'08CKB*8^' 0' h5B*8' 0' LPWP' -+#"' 7+>
089*&$BC*'=/5$-4)")%8'$2$,&">3')0"?45(6)
067,'38&+9") ') ") -","&5$#'$3'+1 ^+h7$'
+6*%$?'a'0'&$#-8%*8'0%6`/6-$B5'6+^*e>
3&5'%$^+-&D38^',8-5,+-*$975^'$'+-A$>
7*&$BC$^*' 6+&$-&D3+05^*' a' C$#+' B*DA'
7$%,e6"CDB5BE'6+'%+X*8'8,$6`0'#%&,$/>
,+0$7*$' 0&$C8^75BE' -89$BC*[' 0' %&B&8>
A`97+KB*'&$K'7+-^+0$7*$'*'%,$73$-5&+>
0$7*$'C8C'&$%$3I'.+h8^5'05-`h7*?'6*e?'
+#-8%`0'nWo'X-$#'"7+-^+0$7*$['nLo'6+38CKB*8'6*+7*8-%#*8'n+33+978o['n]o'6+38CKB*8'%5%,8>
^+08'n+3A`-78o['nMo',8%,+0$7*8'%5%,8^"'+-$&'nNo'6-&5A+,+050$7*8'&^*$7I'
W' 1$98C'0',8#KB*8'C$#+'_"%,$0$bI
17
B@(49#56;/9*-:'-"#02/
-4C6,(12/*#C4"1=(;C/
#/4"?#561#0>#C6/
-41#"1=(492C6/
-4/DEFE/"4%@/
7/"2*/G6*+4"20152/+94"1;56#/
C4(;86/9*-:'-"#02/
9/H48*0;
8+'&")J"A-#4.
8"/#/%)H<K;6'3';%.+/@)J/B/"4-@+)H"<46+#4-@+)8'#4"#AB'0$-FL)
C#?'6/.)!"4@'0/<')J'"75)I/"$&'"+4;6/<'L)*%3K?3"4-7@/)
#)J76B4-@A)D'#0'@7)>3'?/-#/M%&04)H:$04&/;%.+/<'L)
N0+A#46$)#)C/6&"75)O4B4M)>3'?/-#6'P-+)+)8';+&$.)G'.4;6$-FL)
C#?'6/.)D/B4.-@+)N/%#$&K0)QR6+54-@4)S$-+4)87:;+-#6/<'T
D$%#4"B)>."#$3+/-
2'.&'")%'-@';'<++1).''"B$64&'")HP"'B.4)O4B46+4
R.&$06'P-+)G'.4;6/@1)0$.?4B'0-4)*$9%#/@)>#.'?$)O46.'0/@)
0)CF'"#'0+/
06-+0$3&87*8
(I]

lata 1989–1995 – Wolna amerykanka '
' F+#$97$'3&*$/$97+K?'%6+/8B&7$'6+'WQVQ'-+#"'n6+'B&eKB*'050+3&DB$'%*e'&'3&*$/$97+KB*'
=+^*,8,`0'@X50$,89%#*BEo'3+K?'%&5X#+'-+&3&*89*/$'%*e'7$'30$'6+3%,$0+08'7"-,5['0'#,`>
-5BE'+6BC$'6+&$-&D3+0$'X5/$'78A$,507*8'7$%,$0*+7$'3+'6+9*,5B&78C'a'C$#'%*e'&3$0$/+'a'
+6BC*'%$^+-&D3+08CI'i-8%&,D['B+',-&8X$'6+3#-8K9*?['"'6-+A"',-$7%S+-^$BC*'%5%,8^+08C'+X*8'
%,-+75' 3+6*8-+' "B&5/5' %*e' 6+3%,$0'38^+#-$BC*' *' 7*8' X$-3&+' -+&"^*$/5' %68B5c#*' 3-"A*8C'
%,-+75I'@-A$7*&$BC8'-$B&8C'+A9D3$/5'%*e'7$'&$A-$7*B&7D'6+^+B'c7$7%+0D['#,`-$'a'&'"0$A*'
7$'`0B&8%75'6-&89*B&7*#'0$9",+05'a'+&7$B&$/$'6+'6-+%,"'3"h8'6*87*D3&8I'(%6$-B*8'&'#+7>
%,5,""CDB8A+' %*e'3+6*8-+'%$^+-&D3"',8-5,+-*$978A+' 7*8'053$0$/+'%*e' -8$978'0',$^,5BE'
0$-"7#$BEI'
' Z*DA98'C8%&B&8'3+^*7+0$/'0`0B&$%'%5%,8^'+6$-,5'7$'6$,8-7$9*%,5B&75BE'"#/$3$BE'05>
-$h$75BE'0'"&7$7*+05BE'%6+%+X$BE'35%,-5X"BC*'K-+3#`0I')-$#,5#$'3+,$BC*'0'3"h8C'^*8>
-&8'+6*8-$/$'%*e'7$'&$%$3$BE'&'6+6-&837*8A+'%5%,8^"I'Z+'6-$03$'0'WQQW'-+#"'&9*#0*3+>
0$7+'3+,$BC8'6+3^*+,+08[' $98' #*8-"78#' 6-&8#$&50$7*$' K-+3#`0'c7$7%+05BE' 7*80*898'
%*e'&^*87*/I':5/5'+-A$7*&$BC8['#,`-8'&$0%&8'3+%,$0$/5'0%6$-B*8'*'^"%*$/5'3+%,$0$?'3$98CI'
1+,5B&5/+' ,+' 6-&838' 0%&5%,#*^' #9"X`0' %6+-,+05BE' B&5' %,-$h5'6+h$-75BE[' #,`-8' ,-$#,+>
0$78'C$#+'0$h75'898^87,'9+#$97+KB*['0'^*$-e'X8&'6-+X98^"'6-&8,-0$/5'&^*$7e'%5%,8^"I'
(',8'",$-,8'#+98*75'6-`X+0$/5'%*e'3+%,$?'7+08'+-A$7*&$BC8I'i'"0$A*'7$'X-$#'+X+0*D&"CD>
B5BE'6-+B83"-'+3X50$/+'%*e',+'7$'&$%$3$BE'_0+978C'$^8-5#$7#*b'*'B&$%8^'6+0+3+0$/+'
7*86-$0*3/+0+KB*['B+'X5/+'0*3$?'7*8',59#+'7$'6+&*+^*8'9+#$975^['$98'*'+A`97+#-$C+05Î'
('05^*$-&8'B87,-$975^'&7$9$&/+'%0+C8'-+&0*D&$7*8'n$9X+'0/$KB*0*8'6*8-0%&D'C8A+'6-`Xeo'
0'-+&6+-&D3&87*"'m$35'.*7*%,-`0'&'W]'9*6B$'WQQN'-+#"I'45A7$/5'&^*$7'7$'6+&*+^*8'%$^+>
-&D3`0'6+C$0*/5'%*e'30$'^*8%*DB8'6`s7*8CI
'
<"("$GHHIJGHHK$L$@+-;9D%/"$*/+./;,2#/;$/$-:"$5+-;<;$
' =/+6+,5'&'35%,-5X"BCD'K-+3#`0'7$'3&*$/$97+K?'B+-$&'X$-3&*8C'3+B87*$75BE'9+#$97*8'+->
A$7*&$BC*'6+&$-&D3+05BE'&$BEeB*/5'B&eK?'A^*7'3+'%&"#$7*$'-+&0*D&$;I')-&5A+,+050$7+'
C8'-`07+B&8K7*8'0'#*9#"'A^*7$BEL[',$#'0*eB'0'6-&8B*DA"'#-`,#*8A+'B&$%"'0'#*9#"'%$^+-&D>
3$BE'^*8C%#*BE'6-&5Ce,+'+36+0*837*8'6-&86*%5'-8A"9"CDB8',8'#08%,*8I'g"7#BC+7+0$/5'+78'
6+3'7$&0D'_6-+A-$^'0%6`/6-$B5b]'*'%,$7+0*/5'898^87,'6-$0$'9+#$978A+I'm+&0*D&$7*$',8'
&7$B&DB+'-`h7*/5'%*e'+3'%*8X*8I'Z&eK?'&'7*BE'+#-8K9$/$'C8357*8'&$%$35'6-&5&7$0$7*$'K-+3>
#`0['0'*775BE'%,$-$7+'%*e'%&8-&8C'+#-8K9*?'&$%$35'0%6`/6-$B5'6+^*e3&5'k4G'*'+-A$7*&$BC$>
^*'6+&$-&D3+05^*I')+C$0*/5'%*e'30$'^+3898'a',-`C^*8C%#*['#,`-5'7$&50$75'X5/'^+3898^'
_%6+7%+-%#*^bM' nX+' C8A+' *38D' X5/+' 0%6$-B*8' %$^+-&D3"' 39$' $#,507+KB*' +X50$,89%#*8Co'
*' 0$-%&$0%#*[' #,`-5' +#-8K9$7+' C$#+' _&$3$7*+05bN' n+30+/50$/' %*e' X+0*8^' 3+' 7$,"-$978C'
0%6`/6-$B5'3&*$/`0'$3^*7*%,-$BC*'&'+-A$7*&$BC$^*'3&*$/$CDB5BE'0'+#-8K9+75^'+X%&$-&8oI
($-,+'6-&56+^7*8?'&$%$37*B&8'-`h7*B8'+X"'^+389*
)*8-0%&5'+30+/50$/'%*e'3+'6+9*,5B&78C'-86-8&87,$BC*'C$#D'X5/$'-$3$'A^*75['3-"A*'
3+'$3^*7*%,-$BC*'%$^+-&D3+08C['#,`-$'-8$9*&+0$/$'9+#$97D'6+9*,5#eI
)*8-0%&5'3+^$A$/'%*e'053&*8987*$'K-+3#`0'7$'+-A$7*&$BC8'6+&$-&D3+08'n%/5775'
6+%,"9$,'Wwo['3-"A*'+30+/50$/'%*e'3+'*38*'#+7,-$#,"['$'6+3&*$/'K-+3#`0'6+&+>
%,$0*$/'3+'"&A+37*87*$'6+^*e3&5'$3^*7*%,-$BCD'*'+-A$7*&$BC$^*'6+&$-&D3+05^*'
0'-$^$BE'"BE0$9+78A+'6-&8&'-$3e'X"3h8,"I'
L' (*eB8C'7$',8^$,',8A+'+#-8%"'76I'0')I'g-DB&$#['D#8+3')/+(5"#)-)EEE)F8+3840"/0",'5+.['g"73"%&'(%6`/6-$B5['
($-%&$0$'LPPLI
]' d%,$7$0*$75BE' 0' ,5^' +#-8%*8' _6-+A-$^`0' 0%6`/6-$B5b' 7*8' 7$98h5' *387,5c#+0$?' &' _-+B&75^*'
6-+A-$^$^*' 0%6`/6-$B5b' 057*#$CDB5^*' &' "%,$05I' G8' 6*8-0%&8' ^*$/5' BE$-$#,8-' -+&0*D&$;' %5%,8^+05BE['
+'0*89+98,7*^'E+-5&+7B*8'+X+0*D&50$7*$I
M' )+3&*$/',87'6-&83%,$0*/'iI'(8CB^$7'0'$-,5#"98'G,+*+&5$#&+)%4,+*$54)-/0120#$34['_m+B&7*$#b'WQQO['
7-I]I
N' G$#D'6+%,$?'^*$/$'6*8-0%&$'0$-%&$0%#$'"BE0$/$'3+,5B&DB$',8A+'&$A$37*87*$['#,`-$'+37+%*/$'%*e'3+'
0%6`/3&*$/$7*$'p^*75'($-%&$0$>Z87,-"^'*'+-A$7*&$BC*'6+&$-&D3+05BE'0'-8$9*&$BC*'&$3$;'&'&$#-8%"'6+^+B5'
%6+/8B&78C['+BE-+75'&3-+0*$['7*089+0$7*$'%#",#`0'X8&-+X+B*$'*'6-&8B*03&*$/$7*$'6$,+9+A*+^'%6+/8B&75Î'
)+-I' HI' x-57*80*B#$[' H,+3$&'+) 8$%$I) 0"*"34) /0"2+38&+.) "#9$&'8$3."*) 0"8$#8:%"-4*J) 0#84(2$%) K*'&4)
L$#/8$-$MN+&5#6*O)0'L/0120#$3$)/+(5"#$)"74-$5+,/('+9")8)$%*'&'/5#$3.:)067,'38&:['-83I'.I'm5^%&$['<7%,5,",'
46-$0')"X9*B&75BE['($-%&$0$'LPP]I
18
)*8-0%&5'3$0$/'+-A$7*&$BC+^'^+h9*0+K?'05&7$B&$7*$'B89`0['$'3-"A*'%,$0*$/'
+-A$7*&$BC8'0'-+9*'0%6`/-8$9*&$,+-$'9+#$975BE'6+9*,5#'6"X9*B&75BE['K0*$3B&DB8A+'
"%/"A*'%6+/8B&78I
' G-&8X$' a' A0+9*' 6-$035' E*%,+-5B&78C' a' 6-&50+/$?' C8%&B&8' *778' ^+3898' 0%6`/>
6-$B5[' #,`-8' 6+C$0*/5' %*e' 0' 0`0B&$%' C$#+' $9,8-7$,50$' 39$' 3&*$/$;' ^+389"' _%6+7>
%+-%#*8A+b' *' _&$3$7*+08A+bI' @30+/50$/5' %*e' +78' 3+' 0$-,+KB*' 0%6`97+,5[' 3+'
0$-,+KB*' 6$-,5B56$BC*' +X50$,89%#*8C' *' #+7,-+978C' -+9*' +-A$7*&$BC*' 6+&$-&D3+05BEI' )-&5>
#/$3$^*' $9,8-7$,5075BE' -+&0*D&$;' X5/+' _F+#$978' )$-,78-%,0+b' 03-+h+78' 0' :*89%#">
>:*$/8C[' 3&*$/$7*$' 6+38C^+0$78' 0' (*89#+6+9%B8[' B&5' ,&0I' 4*8?' F+#$978A+' )$-,78-%,0$lI'
' )+3%"^+0"CDB'+#-8%'6*+7*8-%#*['^+h8^5'%,0*8-3&*?['h8'&$&05B&$C'"%,$7$0*$78'*'03-$>
h$78'%,$73$-35'*'^8BE$7*&^5'056-&83&$/5',+['B+'0'LPP]'-+#"'06-+0$3&*/$'"%,$0$I'Z+'
0*eB8C['053$C8'%*e['h8',$#h8'+X8B7*8['6+'#*9#"98,7*^'C"h'+#-8%*8'C8C'S"7#BC+7+0$7*$'7*8>
#,`-8'&'`0B&8%75BE'-+&0*D&$;'9+#$975BE',+'7*8^$9'A+,+08'^+3898'39$'*7%,5,"BC*'&$^*8>
-&$CDB5BE' 6+37*8K?' C$#+K?' *' %,$73$-35' ^*e3&5%8#,+-+08C' 0%6`/6-$B5' B&5' 6+%&8-&5?' C8C'
&$#-8%'*'S+-^5I'<'0-8%&B*8[',+'0/$K7*8'0`0B&$%'6+C$0*/5'%*e',$#*8'-+&0*D&$7*$['C$#'",0+-&8>
7*8'%,$7+0*%#$'_68/7+^+B7*#$'3%I'0%6`/6-$B5'&'+-A$7*&$BC$^*'6+&$-&D3+05^*b['#+7#"-%5'
A-$7,+08['B&5'_B87,-$'+-A$7*&$BC*'6+&$-&D3+05BEbI'J$'^$-A*78%*8'C837$#',-&8X$'3+3$?['h8'
0*898'&'-+&0*D&$;'#+^698#%+05BE[',-$#,+0$75BE'0`0B&$%'C$#+'^+389+08'7*8'05,-&5^$>
/+'&^*$7'6+9*,5B&75BE'3+#+7"CDB5BE'%*e'7$'9+#$975BE'%B87$BE'%$^+-&D3+05BEOI'm`07*8h'
%5%,8^+08'-+&0*D&$7*$['BE+?'6-+^+0$/5'68078'*7%,5,"BC8['&'0*89"'B*8#$05BE'-+&0*D&$;'
^"%*$/5'&-8&5A7+0$?['6+7*80$h'"%,$0$'+'c7$7%$BE'6"X9*B&75BE'%6-+0$3&*/$'0%6`/6-$>
Be'05/DB&7*8'3+'#08%,**'c7$7%+05BE['$'9+#$97*8'6-&5Ce,8'-+&0*D&$7*$'&+%,$/5'&$%,D6*+78'
C8375^['+A`97+6+9%#*^'0&+-8^'S"7#BC+7"CDB5^'6+3'7$&0D'H$/$%4)')5#47)0"/5@0"-$&'$)
") 6%8'+,+&'+) %"5$3.'O) /0"/"76) .+.) #"8,'38+&'$) "#$8) /0"/"76) ("&5#",') -4("&$&'$) 8$%$I)-2$-
/&43;)PQD)8,+3"&43;)0"%*'"5"*)&'+)8$,'38"&4*)%")/+(5"#$)R&$&/1-)067,'38&43;)')&'+)%8'$-
2$.:34*)-)3+,6)"/':9&'@3'$)84/(6I
'
M,7-.;$-+%?+-&;./;$-+$,+&:/6&"=$2'2(;5+:'%?$L$<"("$GHHHJNOOP
' .+3898'X"3+0$78'+33+97*8'X"3&*/5'%6+-+'7$3&*8*['$98',8h'^*^+'6+B&D,#+08C'357$^*>
#*['7*8'-+&0*C$/5'%*e'05%,$-B&$CDB+'%&5X#+I'('-$^$BE'3&*$/$;'-&D3"'6+3Ce,+'0*eB'3&*$/$7*$'
98A*%9$B5C78'0'B89"'"7+-^+0$7*$'%5,"$BC*I')*8-0%&8'6-`X5'+#$&$/5'%*e'B&eKB*+0D'6+-$h>
#DI'(6-+0$3&+7$'&'6+B&D,#*8^'WQQQ'-+#"'=/5$-$)")R&$&/$3;)067,'38&43;'05^"%&$/$'B+'
6-$03$',0+-&87*8'6-&8&'0%&5%,#*8'%$^+-&D35'&$%$3'6-&8#$&50$7*$'K-+3#`0'39$'C837+>
%,8#'%6+&$'%8#,+-$'c7$7%`0'6"X9*B&75BE['C837$#'+#$&$/$'%*e'X"X98^'98A*%9$B5C75Î'(8C>
KB*8'C8C'0'h5B*8'%6+0+3+0$/+'&7$B&DB8',-"37+KB*'0'3&*$/$97+KB*'+-A$7*&$BC*['$'*'6+7*8#D3'
%$^+-&D3`0' ,8-5,+-*$975BE[' #,`-8' K0*$3+^8' &7$B&87*$' ,-&8B*8A+' %8#,+-$' 6+%&"#*0$/5'
%6+%+X`0'6-&8&05B*eh87*$'&$*%,7*$/5BE'+A-$7*B&8;I'ZE+?',-&8X$'%,0*8-3&*?['h8'7$08,'6+'
%&5X#*8C'7+089*&$BC*'0'^$C"'WQQQ'-+#"'0*898'%$^+-&D3`0',8-5,+-*$975BE'XD3s'7*8'6-&5Ce>
/+'"%,$0+0+'7$#$&$75BE'&$%$3['XD3s'05B+S$/+'%*e'&'3+,5BEB&$%+05BE'-+&0*D&$;I'J$-&">
B+7$'6-&86*%$^*'#+7*8B&7+K?',0+-&87*$'6-$0$'9+#$978A+'X5/$'*A7+-+0$7$['$9X+'a'X$-3&+'
B&e%,+'a'"BE0$9$7$'X598'C$#VI'Z+'6-$03$'0'#*9#"'^*8C%B$BE'n76I'p357*$['p3$;%#['Z*8%&57o'
6-+A-$^5'0%6`/6-$B5'6-&8,-0$/5',87',-"375'B&$%'6-$#,5B&7*8'0'%,$-8C'S+-^*8['$'0'*775BE'
&$K'6+0%,$/5'7+08'-+&0*D&$7*$'n4&B&8B*7['=+7*7['p9*0*B8oQ[',+'C837$#'0'B$/5^'-"BE"'7$%,D>
6*/'05-$s75'X5/'-8A-8%I
'
l' i$' 7$CX$-3&*8C' #+^698#%+05' 6-+A-$^' 0%6`/6-$B5' 0' ,$^,5BE' B&$%$BE' 7$98h5' "&7$?' _)-+A-$^'
)$-,78-%,0$' F+#$978A+b' +X+0*D&"CDB5' 0' 9$,$BE' WQQVaWQQQ' 0' :*89%#">:*$/8CI'($-,+' ,8h' 0%6+^7*8?[' *h'
3&*$/$7*$'4,+0$-&5%&87*$'H4@ZkHZkf'&',$^,5BE'B&$%`0'&$6+0*$3$/5'-+&0`C'+-A$7*&$BC*',56"'_0$,BE3+AbI'i+XI'
)I'g-DB&$#['mI'4#-&56*8B['!#8+.#84/5$)K*'&$O)"#9$&'8$3.+)0"8$#8:%"-+O)("#603.$['@K-+38#':$3$7*$'H#,507+KB*'
F+#$978C'6-&5'4,+0$-&5%&87*"'H%+BC$BC8['($-%&$0$'LPPLI
O' )-&5#/$38^'C8%,'%68#,$#"9$-75'"6$38#'%&,$73$-+05BE'0'`0B&8%75^'B&$%*8'6-+A-$^`0'_9+#$978A+'
6$-,78-%,0$b'0':*89%#">:*$/8C['=-$#+0*8['=*89B$BE'*'0*89"'*775BE'A^*7$BEI
V' mI'4#-&56*8B['S"/5@0)%")'&T"#*$3.')067,'38&+.)-)0#$(543+['4,+0$-&5%&87*8'_g838-$BC*'i*89+75BEb['G5BE5'
6$s3&*8-7*#'LPPWI'G$#h8'_H%+BC$BC8b'LPPW['7-'QI
Q' Q0#$-"8%$&'+) 8) T6&(3."&"-$&'$)=/5$-4) ") %8'$2$,&">3') 0"?45(6) 067,'38&+9") ') ") -","&5$#'$3'+) 8$) #"()
2006['.*7*%,8-%,0+')-$B5'*')+9*,5#*'46+/8B&78C['($-%&$0$'LPPVI
19
06-+0$3&87*8
(I]
06-+0$3&87*8
(I]

' =+98C7D'"%,$0D['#,`-$'X"3&*/$'0*89#*8'7$3&*8C8'+-A$7*&$BC*'6+&$-&D3+05BE'X5/$'a'"BE0$>
9+7$'LM'#0*8,7*$'LPP]'-+#"'=/5$-$)")%8'$2$,&">3')0"?45(6)067,'38&+9")')")-","&5$#'$3'+I'
d%,$0$'0/$KB*0*8'X5/$'6-&5A+,+050$7$'+3'WQQl'-+#"['B+'6+'B&eKB*'C8%,'8S8#,8^'7*8C83>
7+&7$B&78C'6+%,$05'B&eKB*' +-A$7*&$BC*'6+&$-&D3+05BE'0+X8B'7*8#,`-5BE'6-+6+&5BC*' C8C'
&$6*%`0WPI')-&5CeB*8'"%,$05'#+;B&5/+'B&$%'0+978C'$^8-5#$7#*'*'6*+7*8-%#*BE'8#%68-5^87>
,`0['0'%6+%`X'C837+&7$B&75'+#-8K9$CDB'-$^5'0%6`/6-$B5['6-&8&'B+'7*8#,`-&5'6-&5-`07"CD'
CD'3+'_#+7%,5,"BC*',-&8B*8A+'%8#,+-$b'B&5',&0I'B+^6$B,`0['B&59*'&7$75BE'&'#-$C`0'-+&0*7*e>
,8C'38^+#-$BC*'"^`0'6+^*e3&5'-&D38^'$'%8#,+-8^'+BE+,7*B&5^WWI
' d%,$0$'0'*%,+B*8'+6+0*83&*$/$'%*e'&$'^+3898^'_&$3$7*+05^bI'@A-$7*B&5/$'-+9e['C$#D'08'
0%6`/6-$B5'%$^+-&D3`0'*'+-A$7*&$BC*'6+&$-&D3+05BE['^$CD'3+'+38A-$7*$'38^+#-$,5B&7*8'
05X-$7*'6-&83%,$0*B*898'&$%*$3$CDB5'0'-$3$BE'A^*7WLI'i$0e&*/$'%S8-e'0%6`/6-$B5'3+'-8$9*>
&$BC*'6-&8&'+-A$7*&$BC8'6+&$-&D3+08'&$3$;'6"X9*B&75BEW]I'k8C'S"7#BC+7+0$7*8'0%6*8-$'%*e'
-$B&8C'7$'6-+B83"-$BE'7*h'$#%C+9+A**I'
' )-+B8%'06-+0$3&$7*$'&$6*%`0'"%,$05'0'h5B*8'7*8'X5/'/$,05I'<',+'&$-`07+'7$'6/$%&B&5s>
7*8'%,$7+0*87*$'6-$0$'n0'LPPl'-+#"',59#+'OW[Qw'A^*7'6+%*$3$/+'+X9*A$,+-5C75' -+B&75'
6-+A-$^'0%6`/6-$B5WMo['C$#'*'C8A+'%,+%+0$7*$I'($-,+'0',5^'#+7,8#KB*8'6-&5C-&8?'%*e'05>
7*#+^'^+7*,+-*7A"' "%,$05' 6-&86-+0$3&+78A+' 7$' &98B87*8' 386$-,$^87,"' 6-&8&' 4,+0$>
-&5%&87*8'=9+7Rk$0+-'6+'-+#"'S"7#BC+7+0$7*$'"%,$05WNI'(57*#$'&'7*8A+['h8'%$^+-&D3',8>
-5,+-*$975'C8%,'39$'+-A$7*&$BC*'7$C0$h7*8C%&5^'6$-,78-8^'*7%,5,"BC+7$975Î'10*8'7$',-&5'
+-A$7*&$BC8'0%#$&"CD'0/$3&8'9+#$978'C$#+'*7%,5,"BCe['&'#,`-D'",-&5^"CD'-8A"9$-78'#+7,$#,5['
6-&5'B&5^'6-$0*8'lPw'+-A$7*&$BC*',-$#,"C8'%$^+-&D3',8-5,+-*$975'C$#+'C837D'&'7$C0$h7*8C>
%&5BE'39$'7*BE'*7%,5,"BC*I'('LPPM'-+#"'A^*75'+'3"h8C'9*B&X*8'&$-8C8%,-+0$75BE'+-A$7*&$BC*'
-`07*8'B&e%,+'"BE0$9$/5'6-+A-$^5'0%6`/6-$B5['C$#',8'+'7*80*89#*8C'*BE'9*B&X*8I'<%,7*8C8'&$'
,+'05-$s75'&0*D&8#'6+^*e3&5',5^['B&5'0/$3&8'9+#$978'"BE0$9*/5'-+B&75'6-+A-$^'0%6`/>
6-$B5['$',5^['B&5'c7$7%"CD'n*'c7$7%+0$/5'0'6-&8%&/+KB*o'3&*$/$7*$'+-A$7*&$BC*I'('6-&56$3#"'
A^*7'+',8C'%$^8C'0*89#+KB*['"-&e35['#,`-8'"BE0$9*/5'6-+A-$^['B&eKB*8C'6-+0$3&D'c7$7%+0D'
0%6`/6-$Be' &' +-A$7*&$BC$^*I' 4"A8-"C8' ,+[' h8' 6-+B83"-5'"^+h9*0*$CDB8' 0$-"7#*' -+&0+C"'
0%6`/6-$B5' 0/$3&' 9+#$975BE' &' +-A$7*&$BC$^*'6+&$-&D3+05^*'6+0%,$0$/5' ,$^[' A3&*8' ,$'
0%6`/6-$B$'^*$/$'%*e'986*8CI
' G-"37+'C837$#'6+0*83&*8?['$X5'06-+0$3&87*8'"%,$05'0'&7$B&DB5'%6+%`X'06/57e/+'7$'
6+&*+^'0%6`/6-$B5'a'6-&57$C^7*8C'0'05^*$-&8'c7$7%+05Î')-$0*8'QPw'A^*7['#,`-8'7*8'
3+,+0$/5'+-A$7*&$BC*'0'LPP]'-+#"['7*8'"B&57*/+',8A+'-`07*8h'0'-+#"'LPPMI'k837$#'0K-`3'
C837+%,8#'%$^+-&D3"',8-5,+-*$978A+['#,`-8'3+,D3'6-&8#$&50$/5'K-+3#*'+-A$7*&$BC+^['&$>
+X%8-0+0$7+'7*8&7$B&75['$98'&$"0$h$975'0&-+%,'B$/#+0*,8C'#0+,5'3+c7$7%+0$7*$I'.+h>
7$'%,D3'07+%*?['h8'06-+0$3&87*8'6-&86*%`0'"%,$05'+'3&*$/$97+KB*'6+h5,#"'6"X9*B&78A+'
*'+'0+9+7,$-*$B*8'06/57e/+'6-&838'0%&5%,#*^'7$'6+9*,5#e',5BE'"-&e3`0['#,`-8'C"h'0B&8>
K7*8C' 0%6*8-$/5' +-A$7*&$BC8[' 7$,+^*$%,' 7*80*898' &^*87*/+' 0' 6+%,e6+0$7*"' %$^+-&D3`0'
,8-5,+-*$975BE['#,`-8'3+,D3',8A+'7*8'-+X*/5I
' ($-,+' ,8h' &$B5,+0$?' C8387' &' 07*+%#`0' &' ^+7*,+-*7A"' 6-+0$3&+78A+' 6-&8&' <7%,5,",'
46-$0')"X9*B&75BE' L'+,+)0#"7,+*1-)8-':8$&43;)8)T6&(3."&"-$&'+*)0#"9#$*1-)-/012-
0#$34) -4&'($) 8) .+%&"-4*'$#"-+9") 0".*"-$&'$) 0"%/5$-"-43;) 8$/$%) -/0120#$34) ') 0#84-
-':84-$&'$)-$9')&'+*$,)-42:38&'+) %") '3;) $/0+(56)R&$&/"-+9"U)L)0#840$%(6)"#9$&'8$3.')
0"8$#8:%"-43;).+/5)5")0#8+.$-)38+9">)3")&$84-$*)4"6;5+#0>=/?"#5+49=)V)384,')/(60'+&'$)
/'@)-42:38&'+)&$)8%"74-$&'6)>#"%(1-)0"5#8+7&43;)%")0#8+?43'$U)P+>,')3;"%8')")$%*'&'/5#$3.@)
WP' Z+'6-$03$['BE+?',+'7*8'#08%,*$'&$%$3'0%6`/6-$B5['$98'%,$,"%"'6+h5,#"'6"X9*B&78A+'X"3&*/$'0D,69*0+KB*['
,+' C837$#' X-$#' 6+-+&"^*87*$' +6`s7*$/' "%,$7+0*87*8' +A`97+"%,-+C+05BE' &$%$3' -8A"9"CDB5BE' 0&$C8^78'
-89$BC8'6+^*e3&5'%8#,+-8^'6"X9*B&75^'*'6+&$-&D3+05Î
WW' <77$'%6-$0$['B&5'&$%$37*8I
WL' )+-I'pI'.$#+0%#*['W#$(6.:34)+,+*+&5O)384,')9%8'+).+/5)*'+./3+)#$%&43;)-)/4/5+*'+)-/0120#$34)$%*'&'/5#$3.')
067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;XO'_G-&8B*'48#,+-b'LPPN['7-']I
W]' k8%&B&8' 3+' ,8C' 6+-5' =/5$-$) ") R&$&/$3;) 067,'38&43;' 3$C8' %&8-%&8' 7*h' "%,$0$' 6+98' 3+' 0%6*8-$7*$'
+-A$7*&$BC*'6+&$-&D3+05BE'&8'K-+3#`0'6"X9*B&75BEI
WM' Q0#$-"8%$&'+Y)B%8U)345UCU
WN' L/0120#$3$)$%*'&'/5#$3.')067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;)0")-+.>3'6)-)?43'+)=/5$-4)")%8'$2$,&">3')
0"?45(6) 067,'38&+9") ') ") -","&5$#'$3'+U) F$0"#5) 8) 7$%$&'$) &$) 8,+3+&'+) <!Q[' -83I' .I' m5^%&$[' pI' .$#+0%#*['
($-%&$0$'LPPN'n^$%&57+6*%oI
20
<"("$NOOPJNOOH$L$Q7-+:"./;$2'2(;57
067,'38&:O)5")56)8&"-6)*$*4)%")384&'+&'$)8)0#8+.$-+*)4"6;5+#0>6/5#%#1494I"41(16;801;>O)
(51#$)#1-&'+?)"9#$&'38$)-'8.@)-/0120#$34)-42:38&'+)%")(-+/5'')#"8%$-$&'$)>#"%(1-)"#9$&'8$-
3."*)-)8$*'$&)8$)-4("&4-$&'+)8$%$I)-)/T+#8+)067,'38&+.)B-)%"%$5(6)-:/(")0".*"-$&+.C16I
' (B*Dh'C8%&B&8',-"37+'+#-8K9*?'-&8B&50*%,D'-+9e'06-+0$3&+78C'0'LPP]'-+#"'"%,$05'39$'
0%6`/6-$B5'^*e3&5'+-A$7*&$BC$^*'6+&$-&D3+05^*'$'$3^*7*%,-$BCD['$',5^'%$^5^'39$'-+&>
0+C"'7$'6+&*+^*8'9+#$975Î'k837$#'C8h89*'BE+3&*'+'X"3+0$7*8'6$-,78-%,0$[',+'"%,$0$'-$>
B&8C'%,0+-&5/$'39$',5BE'3&*$/$;'3+X-5'#9*^$,['7*h'&$*7*BC+0$/$'&7$B&DB5'C$#+KB*+0+'6-+B8%I
'
' d%,$0$'&'LPP]'-+#"'+X9*A+0$/$'$3^*7*%,-$BCe'3+'80$9"$BC*'3&*$/$7*$'"%,$05'*'&A/+%&8>
7*$'6+6-$08#I'k837$#'7+089*&$BC$'&+%,$/$'6-&86-+0$3&+7$'3+6*8-+'0'LPWP'-+#"'*'0'7*8>
0*89#*^'%,+67*"'+36+0*$3$/$'7$'057*#*'6*8-0%&8C'80$9"$BC*'+-$&'-8#+^873$BC8'6*8-0%&8C'
m$35'1&*$/$97+KB*')+h5,#"')"X9*B&78A+I'('6-&8B*DA"',5BE'#*9#"'9$,'"%,$0$'*'C8C'-+&0*D&$7*$'
&3+/$/5'%*e'&$#+-&87*?'0'%6+/8B&7+KB*$BE'9+#$975BE'7$',598['h8',-"37+'3+#+750$?'-$35>
#$975BE'&^*$7I'i$^*$%,',8A+'06-+0$3&+7+'0*eB'7+08' -+&0*D&$7*$[' ,$#*8' C$#' *7*BC$,50$'
9+#$97$WO[' #,`-$' 3$C8'68078' "6-$07*87*$' 0' &$#-8%*8' -8$9*&$BC*' 6-&83%*e0&*e?' 0' 0D%#*^'
&$#-8%*8'&$3$;'6"X9*B&75BE'^*8%&#$;B+^'3&*$/$CDB5^'6+&$'+-A$7*&$BC$^*'6+&$-&D3+05>
^*I')+7$3,+'"%$7#BC+7+0$7+'^+h9*0+K?'"%,$7$0*$7*$'6-&8&'k4G'0*89+98,7*BE'6-+A-$^`0'
0%6`/6-$B5I' )*8-0+,7*8' "%,$0$' 6-&80*350$/$' C8357*8'+X+0*D&8#',0+-&87*$' 6-+A-$^`0'
-+B&75BE['&$K'6-`X5'"BE0$9$7*$'6-+A-$^`0'0*89+98,7*BE'&'-8A"/5'7$6+,5#$/5'7$'+6`-'7$3>
&+-"'0+C80+35['#,`-5'+-&8#$/'+'X-$#"'6+3%,$0'6-$075BE'3+'6+38C^+0$7*$'6-&8&'+-A$>
75'%,$7+0*DB8',8A+',56"'"BE0$/I'@B&50*KB*8['7*8#,`-8'%$^+-&D35'6+,-$c/5'+^*7D?',8A+'
,56"'6-&8%&#+35I'4#",8B&75^'%6+%+X8^'X5/+'"%,$7$0*$7*8',8A+',56"'^8BE$7*&^`0'XD3s'
0'S+-^*8'3+#"^87,"'%,-$,8A*B&78A+WV['XD3s'&$-&D3&87*8^'+-A$7"'05#+7$0B&8A+'n76I'f9>
X9DAoI'G5^'%$^5^'"%,$0$'%,0+-&5/$'0$-"7#*'3+'06*%50$7*$'0%6`/6-$B5'&'+-A$7*&$BC$^*'
6+&$-&D3+05^*'0'9+#$978'6+9*,5#*'6"X9*B&78['$98'C8C'#+7#-8,78'-+&0*D&$7*$'B*DA98'C8%&B&8'
X"3&D'0D,69*0+KB*WQI'(56-$B+0$7$'6+'3/"A*BE'#+7%"9,$BC$BE'*'%6+-$BE'7+089*&$BC$['+#$>
&$/$' %*e'0'#+;B"'-$B&8C'6-$A^$,5B&7D'#+-8#,D'+X+0*D&"CDB8C'"%,$05'&'06-+0$3&87*8^'
#*9#"'7+05BE'-+&0*D&$;'7*h'08-5c#$BCD'c9+&+c*'0%6`/6-$B5I'
R;".-,'$:2*34*,"%'$L$ koniec czy
' )+7$3'30"3&*8%,+98,7*'+#-8%'0&$C8^75BE'-89$BC*'6+^*e3&5'%$^+-&D3$^*',8-5,+-*$975>
^*'*'+-A$7*&$BC$^*'6+&$-&D3+05^*['68/87'a'B&$%8^'7*8+B&8#*0$75BE'a'&0-+,`0'0'&$#-8>
%*8'_6+-&D3#+0$7*$b'0%6`/6-$B5[',0+-&87*$'*'-+&^+7,+050$7*$'-+&0*D&$;'%5%,8^+05BE['
#$h8'&$3$?'%+X*8'65,$7*8'_A3&*8'C8%,8K^5rb'Z&5' a'+30+/"CDB' %*e'3+'&7$78A+'#+7B86,"'
g-$7B*%$'g"#"5$^5'a'^+h8^5'0'LPWW'-I'+A/+%*?'_#+7*8B'E*%,+-**br'G+'&7$B&5['h8'a'&$38#-8>
,+0$75'6-&86*%$^*'"%,$05'.+389'0%6`/6-$B5'C8%,'3+B89+05^'*'"7*08-%$975^'^+3898^['
#,`-5'B+'7$C05h8C'Xe3&*8'6+398A$/'#+%^8,5B&75^'#+-8#,+^r'Z&5',8h['X9*h%&8'6-$035'C8%,'
%,0*8-3&87*8['h8'^+389'^"%*^5'&X"3+0$?'05#+-&5%,"CDB'6+',8^"'"%,$0+05'S"73$^87,r'
j8'C8%,8K^5'&+X9*A+0$7*'a'X$&"CDB'7$'"%,$0+05BE'-+&0*D&$7*$BE'a'3+'6+%&"#*0$7*$'+6,5>
^$975BE'39$'#$h38C'%6+/8B&7+KB*'9+#$978C'-+&0*D&$;r'H'^+h8'7*8&Xe37$'C8%,'C8%&B&8'-$&'
S"73$^87,$97$'38X$,$LP'+'6+3&*$98'+X+0*D&#`0'0'6$;%,0*8'*'-+9*'+-A$7*&$BC*'6+&$-&D3+>
05BE[',$#'$X5'0'0*e#%&5'7*h'3+,D3'%6+%`X'05#+-&5%,$?'6+,87BC$/',#0*DB5'0'+X50$,89%#*8C'
$#,507+KB*['&0*e#%&$CDB'7$B*%#'7$'*BE'$#%C+9+A*B&7D['$'7*8',59#+'6-$A^$,5B&7D'S"7#BCer'G"'
#+7*8B&7$'C8%,'$#,507$'-+9$'+-A$7*&$BC*['+3'#,`-5BE'3+C-&$/+KB*['*7*BC$,505'*'38,8-^*7$BC*'
&$98h5'3$9%&5'-+&0`C'0%6`/6-$B5I
Wl' G$^h8I
WO' )-`X5'6-&8S+-%+0$7*$'6$-,78-%,0$'6"X9*B&7+>%6+/8B&78A+'&'6+0+3"'0D,69*0+KB*'&A/$%&$75BE'6-&8&'
.*7*%,8-%,0+'g*7$7%`0'&$#+;B&5/5'%*e'7*86+0+3&87*8Î
WV' J6I' dBE0$/$' m$35' .*8C%#*8C' 1DX-+05' p`-7*B&8C' !#"9#$*) #"8-".6) /0"2+38+I/5-$) "74-$5+,/('+9")
-)S:7#"-'+)K1#&'38+.)-),$5$3;)Z[[MZ[]Û)!$#5&+#/5-")L/01,&'+)%,$)<'$/5$U
WQ' )+-I' 76I' )I' g-DB&$#[' mI' 4#-&56*8B[' !#"9#$*) -/0120#$34) -)L$#/8$-'+) V) "7/8$#4) %") %4/(6/.'[' _G8&5' 3+'
35%#"%C*b['LPPV['7-']I
LP' )+-I'76I')I'g-DB&$#['.I'.873&$>1-+&3['S8'$2$,&">_)0"?45(6)067,'38&+9")')"#9$&'8$3.+)0"8$#8:%"-+
V).$($)6/5$-$X['_G8&5'3+'35%#"%C*b'LPPV['7-'LI
*+%&6(;#$
drogi?
21
S+./;%&.;$#+,;#('$L$+-$,+#7$NOGO
06-+0$3&87*8
(I]
06-+0$3&87*8
(I]

P+3%,$0D' 6-&5A+,+0$78A+'
^+389"' +-$&' 6+-$37*#$' X5/$'
3*$A7+&$' +6-$B+0$7$' 7$'
J6#?541#/*+#5@/9*-:'-"#02
7/9256%6/<#(#K/6/;%*-;"+21/-4L96,04520G/*2+@#0>6/
9/H48*0;/9/1#%";*6;/9*-:'-"#02/*#C4"1=(@/1/
6+3%,$0*8' 0*89"' X$3$;' -`h75BE'
*7%,5,"BC*' 8#%68-B#*BE' *' +-A$7*&$>
BC*'6+&$-&D3+05BE'7$',8^$,'%,$7"'
0%6`/6-$B5' +-A$7*&$BC*' ,-&8B*8>
A+' %8#,+-$' nJp@o' &' $3^*7*%,-$BCD'
6"X9*B&7D'nH)o['0',5^'0'%&B&8A`9>
7+KB*' C837+%,#$^*'%$^+-&D3"' ,8>
-5,+-*$978A+' nk4GoI' k8%&B&8' 6-&83'
-+&6+B&eB*8^' -8$9*&$BC*' 6-+C8#,"'
X$3$0B&8A+' &-+X*+7+' 0%,e678'
-+&6+&7$7*8'3+%,e675BE'^$,8-*$>
/`0'*'$7$9*&I'k8375^'&'0$h7*8C%&5BE'X$3$;['#,`-8'X-$7+'6+3'"0$Ae['X5/'^+7*,+-*7A'6-&86-+>
0$3&+75'6-&8&'4,+0$-&5%&87*8'=9+7Rk$0+-'6-&83'08CKB*8^'0'h5B*8'=/5$-4)")%8'$2$,&">3')
0"?45(6)067,'38&+9")')")-","&5$#'$3'+'n"+366oI':$3$7*8'3*$A7+&+0$/+'6+&*+^'0%6`/6-$B5'
c7$7%+08C' *'6+&$c7$7%+08C' 0' "-&e3$BE' %,-"#,"-' B87,-$975BE['0+C80`3&#*BE' *'^$-%&$/>
#+0%#*BEI'm`07*8h'4,+0$-&5%&87*8'=9+7Rk$0+-'B+'-+#"'n6+B&D0%&5'+3'LPPL'-+#"o'6-+0$>
3&*'X$3$7*8'W$#"*+5#)-/0120#$34)0"*'@%84)"#9$&'8$3.$*')0"8$#8:%"-4*')')$%*'&'/5#$3.:I
4"?#561#0>#C6/-41#"1=(492C6/4"#1/-'25=0;/1/560G/
23
";%4C;5(#0>;/
!4&4"#$64)E0+M%.4
2'.&'")%'-@';'<++1)4B+76.&)0)!4&/B"#/)>'-@';'<++)C';;/<+75)C+U+&4%1)
3"4-'06+.)B$B4.&$-#6$)64)*$B#+4;/)E69$6+/"++)V"'B'0+%.4)
8';+&/-F6+.+)*4"%#40%.+/@
06-+0$3&87*8
(IM

' (8CKB*8'0'h5B*8'"+366'0'LPP]'-+#"'%,0+-&5/+'0$-"7#*'3+'"6+-&D3#+0$7*$'-89$BC*'%8#>
,+-$'6+&$-&D3+08A+'*'$3^*7*%,-$BC*'6"X9*B&78CI'k"h'6+'#-`,#*^'+#-8%*8'S"7#BC+7+0$7*$',8C'
"%,$05['X+'+3'LPPM'-+#"['-+&6+B&e,+'X$3$7*$'-89$BC*'^*e3&5'*7%,5,"BC$^*'%$^+-&D3+05^*'
$' +-A$7*&$BC$^*'6+&$-&D3+05^*'*'6+A/eX*+78'$7$9*&5' -+&0+C"' ,$#*8C'0%6`/6-$B5['0',5^'
Î*7I
0'LPPM'*'LPPO'-+#"'<7%,5,",'46-$0')"X9*B&75BE'-8$9*&+0$/'X$3$7*$'6,I'L/0120#$-
3$)$%*'&'/5#$3.')067,'38&+.)')"#9$&'8$3.')0"8$#8:%"-43;)0")-+.>3'6)-)?43'+)=/5$-4)
o %8'$2$,&">3')0"?45(6)067,'38&+9")')")-","&5$#'$3'+['0'-$^$BE'6-+C8#,"'X$3$0>
B&8A+'7$'&98B87*8'.*7*%,8-%,0$')+9*,5#*'46+/8B&78C'<"&'5"#'&9)=/5$-4)")%8'$2$,-
&">3')0"?45(6)067,'38&+9")')")-","&5$#'$3'+'+-$&'6-+C8#,"'W6%"-$&'+)0#84.$8&+9")
>#"%"-'/($)%,$)"#9$&'8$3.')0"8$#8:%"-43;)à"*0$/bu
+3'LPPM'-+#"'186$-,$^87,')+h5,#"')"X9*B&78A+'0'.*7*%,8-%,0*8')-$B5'*')+9*,5#*'
46+/8B&78C'-`07*8h'-+&6+B&D/'B5#9*B&75'^+7*,+-*7A'&$#-8%"'*'%,+67*$'0%6`/6-$B5'
^*e3&5'H)Rk4G'$'Jp@['05%5/$CDB'$7#*8,5'Î*7I'3+'k4G['&$3$CDB'65,$7*$'3+,5B&DB8'
&98B$7*$'&$3$;'Jp@'6-&8&'k4G['6-&80*3&*$78A+'X"3h8,"'7$'0%6`/6-$Be'&'Jp@['
-+3&$C`0'0%6`/6-$B5'6+&$c7$7%+08C'nÎ*7I'6-8S8-87B5C78'"3+%,e67*$7*8'9+#$9*['
*%,7*87*8'&8%6+/`0'3+-$3B&5BE'-`h78A+',56"['#+7%"9,+0$7*8'6-+C8#,`0['*7S+-^+>
0$7*8'Jp@o['6-+A-$^`0'0%6`/6-$B5['0+9+7,$-*$,"'0'k4G'+-$&'05&7$B&$7*$'+%`X'
3+'0%6`/6-$B5'&'Jp@I'
' ('LPPQ'-+#"'*7%,5,"BC8',8'6+/DB&5/5'%0+C8'05%*/#*'X$3$0B&8'*'X$3$7*$'&+%,$/5'B&eKB*+>
0+'%B$9+78'*'6+%&8-&+78I'(',5^'%$^5^'-+#"'0%6`97*8'+6-$B+0$75'#08%,*+7$-*"%&'&$,5>
,"/+0$75':$-+^8,-'&+%,$/'05%/$75'3+'0%&5%,#*BE'"-&e3`0'A^*7'*'%,$-+%,0'6+0*$,+05BEI'
d&5%#$7+'$h'OQw'&0-+,'+36+0*83&*'+3'0%&5%,#*BE'6+3^*+,`0'+XCe,5BE'X$3$7*8Î'=+;>
B+05'-$6+-,'"0&A9e37*$/'%#$9e'6+-`07$0B&D'*'&^*$75'&$BE+3&DB8'0'B&$%*8I'J$C0$h7*8C%&8'
07*+%#*'6-+B87,+08'6-&83%,$0*$^5'0',$X89*W'
'
'
' i'-$6+-,`0'3+,5B&DB5BE'-89$BC*'^*e3&5'+-A$7*&$BC$^*'$'$3^*7*%,-$BCD'6"X9*B&7D'n0'X$>
3$7*"'+6*7**'7$',87',8^$,['C$#*8'05A/$%&$CD'9+#$97*'9*38-&5'+-A$7*&$BC*'+-$&'&$$7A$h+0$7*'
0'3&*$/$97+K?'%6+/8B&7D'%$^+-&D3+0B5o'057*#$['h8'%5%,8^$,5B&7*8'+3'LPPN'-+#"'-+%7D'
6+&5,5078'+B875'*'0&-$%,$'+3%8,8#'9*38-`0'&$3+0+9+75BE'&'3&*$/$;'%$^+-&D3"'9+#$978>
W' k8K9*'7*8'&$&7$B&+7+'*7$B&8C['0%&5%,#*8',$X898'*'-5%"7#*'$",+-$'-+&3&*$/"I
24
A+I'J*80D,69*0*8'C8%,',+',-873'X$-3&+'6+&5,5075I'i'6+A/eX*+75BE'X$3$;'057*#$'C837$#['
h8'7$3$9'C8%,'0*898'6-+X98^`0'0'X"3+0$7*"'&$%$3'0%6`/6-$B5['76I'nto'&$%$,)-'+,+)8$,+?4)
"%) "/"7'/5+.)*"54-$3.') 6#8@%&'(1-) ') /$*"#8:%"-31-)') 2:38:343;) '3;) 8) 0#8+%/5$-'3'+,$*')
"#9$&'8$3.')0"8$#8:%"-43;)&'+T"#*$,&43;)("&5$(51-O)$)&'+)"%)0#"3+%6#)384)$(3+05$3.')8$/$%)
"#9$&'86.:343;)-/0120#$3@U)P+%&4*)8)&$.-'@(/843;)-48-$I)7$%$-3843;)-)"%&'+/'+&'6)%")
76%"-$&'$)/5$&%$#%1-)-/0120#$34)/5$.+)/'@)-)54*)("&5+(>3'+)/3;$#$(5+#48"-$&'+)/-"'/5+-
9")"05'*6*)-)0"8'"*'+)/T"#*$,'8"-$&'$)#+,$3.')*'+%84),"($,&4*')-2$%8$*')$)"#9$&'8$3.$-
*')0"8$#8:%"-4*'2I
' i$/+h87*$'3+'^+389"'0%6`/6-$B5'6+0%,$/5'6+'6-&8$7$9*&+0$7*"'X$-3&+'-`h7+-+375BE'
6+3'0&A9e38^'&$/+h8;'*'^8,+3+9+A**'X$3$;'7,I'0%6`/6-$B5'^*e3&5%8#,+-+08CI'J$C0$h>
7*8C%&8'6/57DB8'&'7*BE'07*+%#*'%D'7$%,e6"CDB8
(%6`/6-$B$'^*e3&5%8#,+-+0$'nIIIo'*$)3;$#$(5+#)%4&$*'38&4O)58&U)6,+9$)8*'$&"*)
-)*'$#@)`"/-$.$&'$b)/'@)8)8$0'/$*')6/5$-"-4*')')8)-4.:5('+*)9*'&)-'+./('3;)
&$/5@06.+)0"/5@0)-+)-/0120#$34)8$#1-&")R&$&/"-+.)')T"#*)-/012%8'$2$&'$)0"8$R-
&$&/"-+9"O)8-':8$&+9")&0U)8)("&/6,5$3.:)#"38&43;)0#"9#$*1-)-/0120#$34û
i-8$9*&+0$78'3+'#+;B$'LPPQ'-I'X$3$7*$'nIIIo'*"?&$)0"%8'+,'_)&$)^)9#604J)B]C)D+O)
%"5438:3+)#+$,'8$3.')8$0'/1-)6/5$-"-43;)')"3+&4)543;)#+96,$3.'c)'&&4*')/2"-4)("&-
T#"&5$3.$)3+,"-">3')#+96,$3.')T"#*$,&"0#$-&43;)8)#+$,&4*')0#"7,+*$*')>#"%"-'/()
,"($,&43;)')/(65+38&">3')-)#"8-':84-$&'6)0#"7,+*1-)"74-$5+,')0#8+8)$%*'&'/5#$-
3.@)/$*"#8:%"-:c)BZC)5+)")3;$#$(5+#8+)*"&'5"#'&9"-4*O)-4(#$38$.:3+)0"8$),')54,(")
>,+%8+&'+)8*'$&)8-':8$&43;)8)#+$,'8$3.:)6/5$-4O)$,+)("&3+&5#6.:3+)/'@)5$(?+)&$)
/0".#8+&'6)&$)-/0120#$3@)*'@%84/+(5"#"-:)8)06&(56)-'%8+&'$)/($,')0"#1-&$-38+.)
')%4&$*'(')8*'$&)8$3;"%8:343;)-)38$/'+c)B^C)"#$8)5+O)(51#+)/:)7$%$&'$*')#$&('&9"-
-4*'O)8$-'+#$.:34*')"(#+>,"&+)-/($d&'(')0"#1-&$&'$)')5-"#8:34*')8+/5$-'+&'$)
.+%&"/5+()$%*'&'/5#$3.')')AKef/1-)-)%$&4*)*'+./36)&$)"%0"-'+%&'+.)/($,'4u
1+,5BEB&$%+08'nIIIo'X$3$7*$'X8&'0&A9e3"'7$'%0+C8'B898'#+7B87,-"CD'%*e'7$'$7$>
9*&*8'0%6`/6-$B5'0'%6+%`X'^$#%5^$97*8'05^*8-75'n*9+KB*+05o'*'B&e%,+'6+^*C$CD'
#+7,8#%,'%6+/8B&7+>#"9,"-+0+>^87,$975'%$^8A+'&C$0*%#$'ntoNI
' )"7#,8^'05CKB*$'3+'3$9%&5BE'X$3$;'0'-$^$BE'6-+C8#,"'<"%+,)-/0120#$34Y'X5/$'%&B&8>
A`/+0$'3*$A7+&$'&'3$75BE'&$%,$75BE'nÎ*7I',5BE'+6*%$75BE'6+05h8Co['7$'6+3%,$0*8'#,`>
-5BE'^+h7$'05^*87*?'A/`078'&C$0*%#$['#,`-8'6+0+3"CD'7*8&$3+0+987*8',$#'$3^*7*%,-$BC*['
C$#',-&8B*8A+'%8#,+-$I'('^$,8-*$98'"&$%$37*$CDB5^'6-&5A+,+0$7*8'6-+C8#,"'p-&8A+-&'.$>
#+0%#*'0%#$&"C8'7$%,e6"CDB8'6-+X98^5' T' X-$#'*7S+-^$BC*'*'%,8-8+,56+08'^5K987*8'#$h38C'&8'%,-+7'7$',8^$,'6$-,78-$'
0%6`/6-$B5['$',$#h8'+X$05'+'X-$#'#+7,-+9*'%6+/8B&78C'7$3'053$,#+0$7*8^'6*8>
7*e3&5'9"X'7$3'6+,87BC$97D'_#+7#"-87BCDb'n0'6+%,$B*'Jp@ou
T' 6+%,-&8A$7*8'0%6`/6-$B5'C$#+'_#/+6+,9*08C'S+-^$97+KB*b['#,`-$'C8%,',8-$&'05^+>
A*8^'df['$98'0'*%,+B*8'7*8'C8%,'"0$h$7$'&$'B+K'0$h78A+u
T' nto'7*83+%#+7$/+K?'+X+0*D&"CDB5BE'6-&86*%`0'7$'X$&*8['#,`-5BE'6+0*775'",-0$>
9$?'%*e'6+6-$078'-89$BC8'%8#,+-$'6"X9*B&78A+'*'6+&$-&D3+08A+u
T' X-$#'&7$C+^+KB*'6-$0$'6-&8&'Jp@'*',87387BC8'3+'^5K987*$'%BE8^$,$^*'+-$&'
7*8#+-&5%,78C'*7,8-6-8,$BC*'6-&86*%`0'6-&8&'$3^*7*%,-$BCeu
T' X-$#*'0'#+^"7*#$BC*'nto'C837$'*'3-"A$'%,-+7$'7*8BEe,7*8'*708%,"C8'B&$%'*'K-+3>
#*'0'3&*$/$7*$'6-&5B&57*$CDB8'%*e'3+'986%&8C'05^*$75'*7S+-^$BC*'*'3+K0*$3B&8;'
^*e3&5'6$-,78-$^*u
T' X-$#*'0'&$-&D3&$7*"'0%6`/6-$BD['6-+X98^'nto'+A`978A+'7*83+%,$,#"'*7S-$%,-"#,">
-5'3+'X"3+05',-0$/5BE'*'6+6-$075BE'-89$BC*'^*e3&5'$3^*7*%,-$BCD'*'+-A$7*&$BC$>
^*['#,`-5'%#",#"C8'+A-+^75^'35%,$7%8^'+-$&'X-$#*8^'&$"S$7*$'^*e3&5'6$-,78-$>
^*'0%6`/6-$B5I
L' .I'1",#*80*B&['pI'.$#+0%#*['^$%&57+6*%'8#%68-,5&5['LPWWI
]' 4I'.+B8#['^$%&57+6*%'8#%68-,5&5['LPWWI
M' G$^h8I
N' G$^h8I
25
M5#86149#5;/4<*1#"2/+;C#+2015; 2004/2005 NOOPQNOOF
R0G9#8;56;/"4015;?4/-"4?"#C@/9*-:'-"#02/
y-837*+'V]w'A^*7'*'QLw'
1/4"?#561#0>#C6/-41#"1=(492C6/
6+0*$,`0
S45*@8+49#56;/-"4?"#C:9/9*-:'-"#02
y-837*+'QNw['$98'0K-`3'
"-&e3`0'A^*7'7$3$9'+#I'
WNw'7*8'^$'6-+A-$^"'
nA/`07*8'A^*75'0*8C%#*8o
S45*@8+49#56;/-"4?"#C:9/9*-:'-"#02 18#9$-$BC8'+3X5,5BE'
#+7%"9,$BC*'0'MQw'
"-&e3`0'A^*7'*'NQw'
%,$-+%,0'6+0*$,+05BE
18#9$-$BC8'+3X5,5BE'
#+7%"9,$BC*'0'lLw'"-&e3`0'
A^*7'*'V]w'%,$-+%,0'
6+0*$,+05BE'
)*-:'-"#0#/$5#5*49# @#+/+'LNw'"-&e3`0'7*8'
&98B$'&$3$;'6"X9*B&75BE'
+-A$7*&$BC+^
WOw'"-&e3`0'7*8'&98B$'
&$3$;'6"X9*B&75BE'
+-A$7*&$BC+^
)*-:'-"#0#/-41#$5#5*49#/
n#+7%"9,+0$7*8'&'+-A$7*&$BC$^*'6-+C8#,`0'
$#,`0'7+-^$,5075BE[U,0+-&87*8'0%6`975BE'
&8%6+/`0'+'BE$-$#,8-&8'3+-$3B&5^'
*'*7*BC$,5075ô
@#+/+'LNw'A^*7'
38#9$-+0$/+['h8'
#+7%"9,$BC8'%*e'+3X50$CD
(*898'n6-&57$C^7*8C'0'%S8-&8'
38#9$-$BC*o'%*e'&^*87*/+['
BE+?'0'A^*7$BE'0*8C%#*BE'
7$3$9'0*e#%&+K?'"-&e3`0'
,5BE'S+-^'0%6`/6-$B5'7*8'
6-$#,5#"C8
06-+0$3&87*8
(IM
06-+0$3&87*8
(IM

' )+3%"^+0"CDB['^+h7$'%,0*8-3&*?['h8'6+^*^+'0*89"'&^*$7'7$'986%&8['0%6`/6-$B$'^*e>
3&5'k4G'n$'%&B&8A`97*8'^*e3&5'$3^*7*%,-$BC$'6"X9*B&7Do'$'Jp@'B*DA98'7*8'C8%,'C8%&B&8'%$>
,5%S$#BC+7"CDB$'39$'h$378C'&8'%,-+7I')-+X98^5'%D'&-`h7*B+0$78'*'0*89+6+&*+^+08'a'C8%,'
,+'&0*D&$78'6-&838'0%&5%,#*^'&8'%68B5c#D'*'BE$-$#,8-8^'S"7#BC+7+0$7*$'#$h38A+'&'6$-,>
78-`0I'i8%6`/'6-&5A+,+0"CDB5'6-+C8#,'&$#/$3$/['*h'0%6`/6-$B$'^*e3&5%8#,+-+0$'6+0*77$'
X5?'986%&$'*'$X5'3+',8A+'3+6-+0$3&*?'"'C8C'6+3%,$0'6+0*775'98h8?'+X+6`97*8'$#B86,+>
0$78'7+-^5'05&7$B&$CDB8'7$C986%&8'#*8-"7#*'6+%,e6+0$7*$'*'X"3+05'6+6-$075BE'-89$BC*'
^*e3&5'+-A$7*&$BC$^*'*'$3^*7*%,-$BCD'6"X9*B&7D'n$' 7*8' ,59#+'6-&86*%5'6-$078oI'ZE+3&*/+'
&$,8^'+'056-$B+0$7*8'7$'6+3%,$0*8'*%,7*8CDB5BE'6-$#,5#'*'3+K0*$3B&8;'&8%,$0"'+6,5>
^$975BE'%,$73$-3`0['#,`-8'6+&0+9D'7$'6+38C^+0$7*8'*' -+&0`C'&$3+0$9$CDB8C'39$'%,-+7'
0%6`/6-$B5I'Z898^'A/`075^'6-+C8#,"'X5/+'&0*e#%&87*8'&$#-8%"'*'6+6-$0$'C$#+KB*'^8BE$>
7*&^`0'0%6`/6-$B5'$3^*7*%,-$BC*'6"X9*B&78C'n&0/$%&B&$'%$^+-&D3+08Co'*'+-A$7*&$BC*'6+&$>
-&D3+05BE'n7$'6+&*+^*8'6+%&B&8A`975BE'k4Go['^*8-&+78C'*738#%8^'C$#+KB*'0%6`/6-$B5I'
' k"h'0'-$^$BE'-8$9*&$BC*'6-+C8#,"'<"%+,)-/0120#$34Y'&$69$7+0$7+'&0*89+#-+,7*+78'3&*$>
/$7*$'6$-,78-%#*BE'*7%,5,"BC*['^$CDB8'7$'B89"'^I*7I'"K0*$3+^*87*8'$3^*7*%,-$BC*'6"X9*B&78C'
*'+-A$7*&$BC+^'6+&$-&D3+05^'#+-&5KB*'057*#$CDB5BE'&8'0%6`/6-$B5'6+^*e3&5'%8#,+-$^*'
+-$&'*387,5c#$BCe'*'"6+0%&8BE7*87*8'*7,8-8%"CDB5BE'6-$#,5#I'('&0*D&#"'&',5^['6-$B8'7$3'
^+3898^'*'6+3-eB&7*#*8^'+%$3&+78'X5/5'7$'6-+0$3&87*"'%&8-+#+'&$#-+C+75BE'X$3$;'nC$>
#+KB*+05BE'*'*9+KB*+05BEo'+-$&'6$-,5B56$,5075BE'6+%&"#*0$7*$BE'7$C986%&5BE'-+&0*D&$;'
&'6$-,78-$^*'&'-`h75BE'K-+3+0*%#'n3&*$/$7*$'#+7%"9,$B5C7+>6-+^+B5C78oI'
Q"-"./"$9"#+D%/+:;$/$/<+D%/+:;
' p/`075^'B898^'B&eKB*'X$3$0B&+>3*$A7+%,5B&78C'0'-$^$BE'6-+C8#,"'X5/+'&A-+^$3&8>
7*8'*'"%5%,8^$,5&+0$7*8'0*83&5'7,I'-89$BC*'^*e3&5',-&8B*^'%8#,+-8^'*'k4G'+-$&'%,0+-&87*8'
7$-&e3&*'X$3$0B&5BE'6+&0$9$CDB5BE'7$'^+7*,+-+0$7*8'C$#+KB*'0%6`/6-$B5'^*e3&5%8#,+>
-+08C'a',&0I'*738#%"'C$#+KB*'0%6`/6-$B5'n<k(oI'1$78'&'X$3$;'<7%,5,","'46-$0')"X9*B&75BE['
Z+998A*"^'Z*2*,$%'*'g+-"^'H#,50*&$BC*'@X%&$-`0'(*8C%#*BE'6+%/"h5/5'C$#+'&$%`X'6-&53$,75'
3+'056-$B+0$7*$'^+389"'*'%,$73$-3`0'0%6`/6-$B5'^*e3&5%8#,+-+08CI'@6*%$78'6+7*h8C'
B&,8-5' 8#%68-,5&5' &X*+-B&+' 6-&83%,$0*$CD' 057*#*'X$3$;'C$#+KB*+05BE' *' *9+KB*+05BE' *' %D'
%57,8,5B&75^*'6-+3"#,$^*'7$6*%$75^*'7$'6+3%,$0*8'$7$9*&'-8$9*&+0$75BE'3+'#+;B$'LPWW'
-+#"I'
1+#+7$7+'$7$9*&5'01+;";0G/?':9520G/T4"C/9*-:'-"#02/C6,(12*;%+4"49;>/
9/92<"#520G/%"#>#0G/R566/U@"4-;>*%6;>'*'0'8S8#B*8'6-&83%,$0*+7+'^+h9*08'3+'
&$%,+%+0$7*$'0')+9%B8'-+&0*D&$7*$I'
' J$'6+3%,$0*8'#08-8735['$7$9*&5'3+#"^87,`0'*'9*,8-$,"-5'+-$&'B&,8-8BE'050*$3`0'8#%>
68-B#*BE'+6-$B+0$7+'8#%68-,5&e'7,I'#+7,5787,$978A+'^+389"'0%6`/3&*$/$7*$['9*X8-$978A+'
&98B$7*$' &$3$;[' *7%,5,"BC+7$978A+[' %+BC$97+>38^+#-$,5B&78A+' &' 3+^*7"CDBD' -+9D' %8#,+>
-$'6"X9*B&78A+R*7%,5,"BC+7$978A+'*'K-`3&*8^7+^+-%#*8A+I'<BE'0%6`97D'B8BED'C8%,'6-`X$'
0%#$&$7*$'%&B&8A`978C'-+9*'Jp@['$',$#h8'6+6-$0$'0&$C8^75BE'#+7,$#,`0'^*e3&5'+-A$7*>
&$BC$^*'*'$3^*7*%,-$BCDI'1+3$,#+0+'6-&5A+,+0$7+'$7$9*&e'30`BE'6-&56$3#`0'0%6`/6-$B5'
k4G'&'Jp@'&'Z&8BE'*'f%,+7**['#,`-8'39$'%5,"$BC*'6+9%#*8C'^+AD'X5?'%&B&8A`97*8'B*8#$08'&8'
0&A9e3"'7$'6+3+X7D'%68B5c#e'7*83$07+'6-&8%&/5',-$7%S+-^$BCe'*'+3'7*83$07$'%D'B&/+7>
#$^*'dfI
' 4&B&8A`/+0+'+^`0*+78'0'3+#"^87B*8'^+3898'0%6`/6-$B5'6+#$&"CD['h8'%,$73$-5&$>
BC$'-89$BC*'k4G'&'Jp@'057*#$'&'3/"A+,8-^*7+05BE'&^*$7'*'6-+B8%`0'*'nto/5$&"-')#+86,5$5)
/8+#/843;) '&'3.$54-)0",'5438&43;6I'J*8&$98h7*8' +3' *%,7*8CDB5BE' A/`075BE'^+389*'%6+/8B&>
75BE[',0+-&87*8'&$%$3'0%6`/6-$B5'0'&$#-8%*8'3+%,$-B&$7*$'"%/"A'6"X9*B&75BE'&'6807+KB*D'
6-&5B&57*$'%*e'3+'E$-^+7**'8"-+68C%#*BE'%5%,8^`0'%6+/8B&75BEI'f0$'F8K'&0-$B$'"0$Ae['
h8'-)!",/3+)0#84%$2$74)/'@)6*"-$)/0"2+38&$)#+96,6.:3$)("&5$(54)$%*'&'/5#$3.')067,'38&+.)
')'&'3.$54-)"74-$5+,/('3;)&$-':86.:3$)%")T#$&36/('+.)S+(,$#$3.')a#$."-+.)")L8$.+*&43;)H"-
7"-':8$&'$3;)$,7")N"*0$356OI'1+#"^87,5['#$-,5'0%6`/6-$B5' B&5' 6-+,+#+/5' %D'05-$&8^'
"^$B7*$7*$'#"9,"-5'0%6`/&$98h7+KB*'+X"'%8#,+-`0'*'^+AD'06/50$?'7$'-+&0`C'*7%,5,"BC+>
7$9*&$BC*'6+9*,5B&78C'+-$&'c7$7%+08C'6+9%#*BE'*7*BC$,50'+X50$,89%#*BEI'
l' fI'F8K['^$%&57+6*%'8#%68-,5&5['LPWPI
O' G$^h8I
26
)-&5A+,+0$7+'8#%68-,5&e'7$',8^$,'%8@014920G/-"4<8;C:9/1(6#?54149#520G/
9/4<*1#"1;/9*-:'-"#02/C6,(12*;%+4"49;>/9/1#%";*6;/+94"1;56#/-486+2%/-@I
<8601520G/(4+201=020G/*-"#9/*-4';01520G/6/40G"452/L"4(496*%#/5#/-4*101;I
?:8520G/*101;<8#0G/*#C4"1=(@/+;"2+4"6#85;?4I'
J$'6+3%,$0*8'3$75BE' &' $7$9*&5'05CKB*+08C'n3$75BE'&$%,$75BEo'+-$&'X$3$;',8-87+05BE['
,CI'WL'0$-%&,$,`0['lP'050*$3`0['$7$9*&'3+#"^87,`0'*'%,"3*"^']P'6-&56$3#`0['3+#+7$>
7+'%57,8&5'057*#`0'X$3$;'C$#+KB*+05BEI'('+%,$,7*8C'B&eKB*'3+#"^87,"'6-&83%,$0*+7+'
07*+%#*'*'-8#+^873$BC8'%&B&8A`/+08'3+,5B&DB8',0+-&87*$'6+9*,5#'6"X9*B&75BE'&'&$#-8%"'
+BE-+75'K-+3+0*%#$'*'&'&$#-8%"'%6-$0'%6+/8B&75BE'+-$&'6+9*,5#'6"X9*B&75BE'&'"0&A9e3>
7*87*8^' %&B&8X9$' %$^+-&D3"' ,8-5,+-*$978A+I' )+7*h8C' 6-&83%,$0*$^' &$-5%' 7$C0$h7*8C>
%&5BE'&'6"7#,"'0*3&87*$'^+389+08C'0%6`/6-$B5'+A`975BE'07*+%#`0'&',8A+'X$3$7*$'Wo'
g%*'&'/5#$3.$) 067,'38&$) 386.+) /'@) 9"/0"%$#8+*) 0#"3+/6) 5-"#8+&'$) 0",'54() 067,'38&43;u' Lo'
g%*'&'/5#$3.$)067,'38&$)*$)&$/5$-'+&'+)&$)+T+(54-&+)5-"#8+&'+)0",'54()067,'38&43;O)(51-
#+)#"86*'$&+).+/5)-)($5+9"#'$3;)/847(">3'h38$/6)5-"#8+&'$)%$&+.)0",'54('u']o'P$(">_)-/012-
0#$34)BYC)-)8$(#+/'+)5-"#8+&'$)0",'54()067,'38&43;)&'+).+/5)-4/"($J)AKe)&'+)7'"#:)6%8'$26)
-+)-/84/5('3;)+5$0$3;)5-"#8+&'$)0",'54()067,'38&43;)').+>,').6?)/:)8$0#$/8$&+O)5")%")6%8'$26)
-)("&/6,5"-$&'6)9"5"-43;)%"(6*+&51-u' Mo'L024-)&$).$(">_) #+,$3.')*'@%84)/$*"#8:%+*)
')"#9$&'8$3.$*')0"8$#8:%"-4*')0#84)5-"#8+&'6)0",'54()067,'38&43;)*$)/838+7+,)/$*"#8:%6)
5+#45"#'$,&+9")"#$8)/0+34R($)/0"2+38&">3'),"($,&+.)V).+.)-'+,(">_O)/($,$)')8$(#+/)8$%$I)/$*"-
#8:%6O),'38+7&">_)')0"5+&3.$2)"#9$&'8$3.')"#$8)3;$#$(5+#)0",'54('u'No'L/0120#$3$)-)"7/8$#8+)
"3;#"&4)>#"%"-'/($).+/5)8&$38&'+)5#6%&'+./8$)&'?)-)"7/8$#8+)/0#$-)/0"2+38&43;)8+)-89,@%6)
&$)7#$()/0+3.$,'/5438&+.)-'+%84)8$#1-&")0")/5#"&'+)6#8@%&'(1-O) .$() ')0#8+%/5$-'3'+,')AKe['
lo'H$/$%&+).+/5)5-"#8+&'+)-/01,&43;)8+/0"21-)8$%$&'"-43;O)(51#+)638+/5&'38:)-)5-"#8+&'6)
0",'54()067,'38&43;VI
i-8$9*&+0$7+'X$3$7*8'5#/+;C#+/(4<"20G/-"#%+2%/9*-:'-"#02V/%+:";/14-;"#0>4I
5#86149#54/6/#5#86149#54/-4(/%=+;C/(@0G#/9*-:'-"#02'a',CI'+,0$-,+KB*'7$'-$BC8'
3-"A*8C'%,-+75['0%6`978'38c7*+0$7*8'B89`0['+6*%50$7*8'%5,"$BC*'0%6`/6-$B5'C$#+'
A-5'+'%"^*8'0*e#%&8C'+3'&8-$'a'C$#+',8C'#$,8A+-**['#,`-$'%,$7+0*'-+&0*7*eB*8'#9$>
%5B&78C'0',8A+',56"'X$3$7*$BE'%+BC+9+A*B&75BE'#$,8A+-**'_#$6*,$/"'%6+/8B&78A+bI'
' ('-$^$BE'6+A/eX*+75BE'X$3$;'C$#+KB*+05BE'6-&86-+0$3&+7+'/DB&7*8']P'050*$3`0'
*7350*3"$975BE'n6+']'6+3^*+,5'0'C8378C'C837+%,B8',8-5,+-*$978Co'+-$&']'E8,8-+A87*B&78'
&+A7*%#+0$78'050*$35'A-"6+08['#,`-8'^*$/5'6+%/"h5?'^I*7'3+'0%#$&$7*$'-+9*['C$#D'A-$CD'
3+X-8['6-&5C$B*89%#*8'#+7,$#,5'^*e3&5'6-&83%,$0*B*89$^*'%8#,+-`0'+-$&'B+K['B+'X50$'+#-8>
K9$78'_#"9,"-D'0%6`/6-$B5bI'i'8#%68-,5&5'057*#$['h8'3"BE'0%6`/6-$B5'C8%,'%&B&8A`97*8'6+>
,-&8X75'0'-89$BC$BE'k4G'a'Jp@'&8'0&A9e3"'7$'-`h7*B8'0'#"9,"-&8'*BE'3&*$/$7*$['B+3&*8778>
A+'S"7#BC+7+0$7*$'*'6-&5C^+0$75BE'6-*+-5,8,`0I'J$'#+7*8B'6-&5A+,+0$7+'#$,$9+A'B8BE'
3+X-5BE'6-$#,5#I')-&5,$B&$^'05X-$78'Wo'/6-+#+&&">_)/5#"&)-/012%8'$2$&'$)*'@%84/+(5"-
#"-+9")')6383'-$)("&(6#+&3.$)*'@%84)&'*')BYCO'Lo'-8$.+*&+)8$6T$&'+)0"%*'"51-O)$,+)')8$6T$-
&'+)"74-$5+,')-)%$&+.)/0"2+38&">3')%")$%*'&'/5#$3.'),"($,&+.)B60",'5438&'"&+.)')60$#54.&'"-
&+.C)')"#9$&'8$3.')0"8$#8:%"-43;)B&$(2$%$.:343;)/'@)&'+.+%&"(#"5&'+)-)/+&/'+)0+#/"&$,&4*)
&$)/5#6(56#4)-2$%84),"($,&+.Cc']o'0$#5&+#/5-")BYC)"8&$38$.:3+)7,'/(">_)0"%*'"51-)')"/"7'/5+)
8$$&9$?"-$&'+) 0#8+%/5$-'3'+,') "74%-6) /+(5"#1-) "#$8) /5-"#8+&'+)*"?,'-">3') -/0120#$34)
8)/+(5"#+*)9"/0"%$#384*)BYCc'Mo'`6"74-$5+,&'+&'+b)-/0120#$34)/+(5"#"-+.O)#"8/8+#8$.:3+)8$-
(#+/)-8$.+*&+.)-/0120#$34)&$)/0"&5$&'38&+)'&'3.$54-4)"74-$5+,/('+)B&0U)/:/'+%8('+CO)-4(#$-
38$.:3+)0"8$)-/0120#$3@)*'@%84'&/54563."&$,&:O)6*"3"-$&:)6/5$-"-"c)No''&5+9#$3.$)#"8-
*$'543;)#"8-':8$IO)-4&'($.:343;)8+)-8$.+*&+.)-/0120#$34)8)/4/5+*+*)8$#8:%8$&'$)')%8'$2$I)
8$#1-&")-)$%*'&'/5#$3.')/$*"#8:%"-+.O).$()')"#9$&'8$3.$3;)0"8$#8:%"-43;u'lo'6%#"?&'"&+)
($&$24)-8$.+*&+.)("*6&'($3.')*'@%84)/+(5"#$*')')/5-"#8+&'+)0,$5T"#*)'&T"#*"-$&'$)/'@QI'
i0-`B+7+'"0$Ae'7$'#08%,*8'%#",8B&7+KB*'*'8S8#,`0'0%6`/6-$B5['6+7*80$h'&'6"7#,"'0*>
3&87*$'$",+-`0'7*8'C8%,'0$h7$',59#+'9*B&X$'6$-,78-%,0['$98',8h'*BE'C$#+K?'n-+&"^*$7$'0A'
&$/+h8;'X$3$0B&5BEo['#,`-$'6+0*77$'06/50$?'7$'#%&,$/,+0$7*8'^+389"I
V' .I'H-B&80%#$['^$%&57+6*%'8#%68-,5&5['LPWWI
Q' 4I'.+B8#['^$%&57+6*%'8#%68-,5&5['LPWWI
06-+0$3&87*8 27
(IM
06-+0$3&87*8
(IM

p/`075^'6-+3"#,8^'B&eKB*'X$3$0B&8C'C8%,'65(;%*/>#%4L06/9*-:'-"#02/C6,I
dzysektorowej (IJW)'6-&5A+,+0$75'7$'6+3%,$0*8'8#%68-,5&5'7$',8^$,'>#%4L06/
91#>;C5;>/9*-:'-"#02/C6,(12*;%+4"49;>I
' ('6*8-0%&5^'8,$6*8'6-&86-+0$3&+7+'$7$9*&e'^$,8-*$/`0'&$%,$75BE'+-$&'0%,e678[',8>
-87+08'X$3$7*$'C$#+KB*+08'V'050*$3`0'A-"6+05BE'*'WL'*7350*3"$975BE'050*$3`0'389>
cB#*BE' &'+%+X$^*'#9"B&+05^*'39$' "&5%#$7*$' 6-$#,5B&78C' 0*83&5' +3' 6-&83%,$0*B*89*' k4G'
*'Jp@I'('B89"'6-&5A+,+0$7*$'7$-&e3&*$['C$#*^'C8%,'*738#%'C$#+KB*'0%6`/6-$B5['&-8$9*&+0$>
7+'7$%,e67*8'+A`97+6+9%#*8'X$3$7*8'*9+KB*+08'n%+73$h'7$'+A`97+6+9%#*8C['-86-8&87,$,50>
78C'6-`X*8'J'z']'OlNo['"&"68/7*+78'%8-*D'050*$3`0'A-"6+05BE'nV'-8A*+7$975BE'6$789*oI'
G$#*8'%+9*378'X$3$7*$'X5/5'6+,-&8X78['$X5'&X"3+0$?'*738#%['+6*8-$CDB'%*e'7$'3+%,e675BE'
3$75BE'8^6*-5B&75BE['&$^*$%,'X"3+0$?'^+389'B&5%,+',8+-8,5B&75I'(5#+-&5%,$7+'-`07*8h'
3$78'&8'%68BC$97*8'6-&5A+,+0$78A+'nIIIo'0#"9#$*6)("*065+#"-+9"O)(51#4)0#8+/86($2)/5#"-
&4)'&5+#&+5"-+)-/84/5('3;).+%&"/5+()/$*"#8:%6)5+#45"#'$,&+9")0"%)(:5+*)"7+3&">3')-47#$-
&43;)5#+>3')%"5438:343;)-/0120#$34)*'@%84/+(5"#"-+.)B0#"9#$*)/0#$-%8$2) /5#"&@)921-&:O)
/5#"&4O)%")(51#43;)0#"-$%8'24),'&(')8+)/5#"&4)921-&+.)"#$8)(",+.&+)/5#"&4O)%")(51#43;)0#"-$-
%8'24),'&(')8)0"%/5#"&)V)0#"9#$*)/0#$-%8$2)/5#"&4)'&5+#&+5"-+)&$)0#8+2"*'+),65+9")')*$#3$)
Z[]])#"(6CWPI
' <738#%'C$#+KB*'0%6`/6-$B5'%#/$3$'%*e' &'%&8KB*"'+X%&$-`0'a'B&eKB*'%#/$3+05BE' Wo' 6*+I
56;56;/ W65T"#*+"@%+@"2X/ 9*-:'-"#02[' ,CI' nIIIo' 0"%/5$-"-43;) '&/5#6*+&51-) /5$&"-':343;)
T"#*$,&+)#$*4)#+,$3.')*'@%84)"#9$&'8$3.$*')0"8$#8:%"-4*')')$%*'&'/5#$3.:)067,'38&:WWu'Lo'
-@<86015#/(4*+,-54L3/;8;C;5+:9/65T"#*+"@%+@"2/9*-:'-"#02'n*7S+-^$BC*'+'c7$7%+05BE'
*'6+&$c7$7%+05BE'S+-^$BE'0%6`/6-$B5['+'+%+X*8'05&7$B&+78C'3+'#+7,$#,`0'&'Jp@'+-$&'
+'0$-,+KB*$BE['7$'#,`-5BE'+6*8-$'%*e'0%6`/6-$B$ou']o'9*-:'-"#0#/$5#5*49#[',CI'nIIIo'8,+3$&'+)
8$%$I)067,'38&43;O)("&(6#+&34.&">_) B,'387$) "T+#5) 82"?"&43;)0#8+8)AKe)-)#+,$3.') %") ,'3874)
8$-$#543;)6*1-CO)#+,$3.$)*'@%84)8$%$&'$*')#+$,'8"-$&4*')-)5#47'+)0"-'+#8$&'$)')-/0'+#$-
&'$)')#1?&"#"%&">_)-/0120#$34WLu'Mo'9*-:'-"#0#/-41#$5#5*49#'a'B&59*'76I'"3+%,e67*87*8'
9+#$9"'Jp@'7$' 6-8S8-87B5C75BE' 0$-"7#$BE[' *%,7*87*8' &8%6+/`0' 3+-$3B&5BE' *' *7*BC$,50>
75BE' &8' %,-+75'Jp@[' #+7%"9,$BC8' 6-+C8#,`0' $#,`0' 6-$075BE[' *,6I' +-$&'0&$C8^78' *7S+->
^+0$7*8'%*e' k4G' *'Jp@'+'69$7+0$75BE'3&*$/$7*$BE'*'0%6`/3&*$/$7*8'0',5^'&$#-8%*8u' No'
96;(1#/6/4-656;/Y!Z/5#/+;C#+/@9#"@5%49#K/9*-:'-"#02'n%,+6*8;'&7$C+^+KB*'6-&8&'Jp@'
_*7S-$%,-"#,"-5b'0%6`/6-$B5'3+%,e678C'0'k4G'Xe3DB8C'*BE'A/`075^'6$-,78-8^'+-$&'%,+6*8;'
&7$C+^+KB*'&$%$3'0%6`/6-$B5'c7$7%+08C'*'+B87$'-8A"/',8C'0%6`/6-$B5ou'lo'1#(4948;56;/
Y!Z/1;/9*-:'-"#02/1/*#C4"1=(;C['B&59*'nIIIo'8'&5+9#"-$&4)-/($d&'()8)045$I)")"91,&:)"3+-
&@O)/5"0'+I)8$6T$&'$O)9"5"-">_)/5$-'$&'$)-/0120#$34)8$)-81#)')")"3+&@)PQDW]I
' (%&5%,#*8' $7$9*&5' 6-+0$3&*/5' 3+' +X9*B&87*$' C8378C' 9*B&X5' a'"+A`97*+78A+' 0%#$s7*#$'
C$#+KB*'0%6`/6-$B5['+X9*B&+78A+'7$'6+3%,$0*8'+B875'#$h38C'B&eKB*'%#/$3+08C'0'6+%,$B*'
C8378C'9*B&X5['$'7$%,e67*8'083/"A'6+7*h%&8A+'-`07$7*$'
'
WP' .I'1",#*80*B&['pI'.$#+0%#*['^$%&57+6*%'8#%68-,5&5['LPWWI
WW' G$^h8I
WL' G$^h8I
W]' G$^h8I
28
' :$3$7*8'C$#+KB*'0%6`/6-$B5',+'6*9+,$h+05',8%,'*738#%"['#,`-8'6+#$&"C8['C$#'X$-3&+'3$78'
0+C80`3&,0+'n9"X'3$7$'k4Go'-`h7*'%*e'+3'K-837*8C'#-$C+08C'"%,$9$78C'-89$,507*8'083/"A'
3$75BEI'i$98,D',8A+'7$-&e3&*$'C8%,',&0I'^8BE$7*&^'%$^+3+%#+7$987*$'+-$&',+['h8'&$0%&8'
,8-87['0+C80`3&,0+'$9X+'C$#*K'+X%&$-'Xe3&*8'6+7*h8C'K-837*8C['$'B+'&$',5^'*3&*8'a'k4G'Xe>
3&*8'^*$/+'^+,50$BCe'3+'6+986%&$7*$'%0+C8A+'S"7#BC+7+0$7*$'08'0%6`/6-$B5I
' <738#%'C$#+KB*'0%6`/6-$B5'C8%,'#+^698^87,$-75'&'*775^*'X$3$7*$^*'*'-8&"9,$,$^*'6-+>
C8#,"['$'nIIIo'0#8+%+)-/84/5('*)8)/$*4*)<"%+,+*)-/0120#$34)V)384,')"91,&:)("&3+03.:O)384)5+?)
-'8.:)5+9"O)-).$(')/0"/17)*$.:)(/85$25"-$_)/'@)#+,$3.+)*'@%84/+(5"#"-+U)<"%+,)1-)-48&$38$)
0"?:%$&4)('+#6&+()#"8-".6)-/0120#$34WMI')+&$'+6-$B+0$7*8^'7$-&e3&*$'X$3$0B&8A+'*'^8>
,+3+9+A**'6+&0$9$CDB8C'7$'^+7*,+-+0$7*8'C$#+KB*'0%6`/6-$B5'k4G' a'Jp@['6-&5A+,+0$7+'
-`07*8h'6-&5X+-7*#'3+'n%$^+o+B875'0%6`/6-$B5'+-A$7*&$BC*'*'$3^*7*%,-$BC*'%$^+-&D3+08C['
#,`-5'C8%,'*7%,-"#BCD'^$CDBD'6+^`B'0'3+#+7$7*"'0%6`978C'+B875'0&$C8^75BE'-89$BC*'*'C$>
#+KB*'0%6`/6-$B5['%&B&8A`97*8'6+3'#D,8^',&0I'#"9,"-5'0%6`/6-$B5[',CI'&05B&$C`0['6-$#,5#'
*',-$35BC*'0&$C8^75BE'3+X-5BE'#+7,$#,`0I'H",+-&5'&$#/$3$CD['h8'C8%,',+'6-+B83"-$'"7*08->
%$97$[' ^+,50"CDB$' 3+' 7$0*D&50$7*$' #+7,$#,`0[' 3*$9+A"' *' BEeB*' "986%&$7*$' 0%6`/6-$B5'
^*e3&5%8#,+-+08CI
' ('6-&5A+,+0$7*"'<"%+,6Y'X-$9*'"3&*$/'6+K-837*+'XD3s'X8&6+K-837*+'0%&5%B5'6-&83>
%,$0*B*898' 6$-,78-`0' 6-+C8#,"' <7%,5,","' 46-$0' )"X9*B&75BE' n<4)o[' Z+998A*"^' Z*2*,$%'
nZZo[' i0*D&#"' .*$%,' )+9%#*BE[' 4*8B*' (%6*8-$7*$' @-A$7*&$BC*' )+&$-&D3+05BE' 4)F@G[' g+>
-"^' H#,50*&$BC*' @X%&$-`0' (*8C%#*BE' +-$&' 9*38-' B$/8A+' 6-&83%*e0&*eB*$' a' 186$-,$^87,'
)+h5,#"' )"X9*B&78A+' 0' .*7*%,8-%,0*8' )-$B5' *' )+9*,5#*' 46+/8B&78CI' (%&5%B5' -8$9*&+0$>
9*' $9X+' 0%6`/6-$B+0$9*' 6-&5' +-A$7*&$BC*' -`h75BE' 3&*$/$;' #+7%"9,$B5C75BE' *' 6-+^+B5C>
75BEI'i8X-$78'%"A8%,*8' *'07*+%#*'X5/5'6`s7*8C'7*8C837+#-+,7*8'X-$78'6+3'"0$Ae' *' ,-$#>
,+0$78' C$#+' *%,+,75' 0#/$3' ^8-5,+-5B&75I' )+7*h8C' 05^*87*$^5' #*9#$' 3&*$/$;' 6$-,78-`0'
T' #+7#"-%'Q$*"#8:%"-4)i'%+#)H$#8:%8$&'$'39$'0%&5%,#*BE'A^*7'*'6+0*$,`0'0'#-$>
C"'a'3+,5B&5/'0%6`/6-$B5'k4G'a'Jp@'*'^*$/'7$'B89"'*387,5c#$BCe'*'6-+^+0$7*8'
3+X-5BE'6-$#,5#'&$-&D3&$7*$'"%/"A$^*'%$^+-&D3+05^*u
T' %6+,#$7*$'A-"6'05^*$75'3+K0*$3B&8;'np(1o['+-A$7*&+0$78'+33&*897*8'39$'A^*7'
^*8C%#*BE['0*8C%#*BE['6+0*$,`0'*'%$^+-&D3`0'0+C80`3&#*BE['#,`-8'^*$/5'7$'B89"'
6+-`0750$7*8'057*#`0'X$3$;'*9+KB*+05BE'*'C$#+KB*+05BE'0%6`/6-$B5'k4G'a'
Jp@['0'&8%,$0*87*"'&'*7S+-^$BC$^*'7$',8^$,'S+-^'+-A$7*&$B5C75BE'0%6`/6-$B5'
*'05^*$7D'6-$#,5B&75BE'3+K0*$3B&8;['0',5^'6+3B&$%'0*&5,',8-87+05BE'*'-+&>
^`0'&'6-&83%,$0*B*89$^*'9+#$975BE'Jp@u'
T' %8-*$'%6+,#$;'0$-%&,$,+05BE['#,`-8'^*$/5'0/DB&5?'%6+/8B&7+KB*'9+#$978'*'Jp@'
n%&B&8A`97*8'3&*$/$CDB8'7$'+X%&$-$BE'0*8C%#*BEo'0'6-+B8%'056-$B+050$7*$'*',8>
%,+0$7*$'^+389"'0%6`/6-$B5'+-$&'&$/+h8;'3+'6+-$37*#$u'
T' %6+,#$7*$'S+-"^'68/7+^+B7*#`0['%#*8-+0$78'3+'+%`X'+36+0*83&*$975BE'&$'
0%6`/6-$Be'k4G'*'Jp@['#,`-8'%,$7+0*/5'69$,S+-^e'3+'35%#"%C*['05^*$75'3+K0*$3>
B&8;'*'&X*8-$7*$'+6*7**'7$',8^$,'0%6`/6-$B5'%$^+-&D3"'&'Jp@'+-$&'"6+0%&8BE>
7*$7*$'056-$B+0$75BE'-+&0*D&$;u
T' %6+,#$7*$'_+#-DA/8A+'%,+/"b['6+3B&$%'#,`-5BE'68/7+^+B7*B5'3%I'0%6`/6-$B5'0-$&'
&'6-&83%,$0*B*89$^*'Jp@['35%#",+0$9*'7$',8^$,'056-$B+0$78A+'^+389"'*'#%&,$/>
,"'6+-$37*#$I'
WM' G$^h8I
29
U&/"4"./"$#+.27<("%'9.+J*,+5+%'9.;
06-+0$3&87*8
(IM
06-+0$3&87*8
(IM

Poradnik cz.1

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to Poradnik cz.1

Similar to Poradnik cz.1 (20)

More from Barka Foundation

More from Barka Foundation (20)

Poradnik cz.1