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Published by B&R, 2017-06-08 06:14:24

Rintal - katalog indywidualny

5CNQP[ URT\GFCʑ[







)FCɛUM 5\CFȕMK 9CTU\CYC -CVQYKEG
WN 2T\[YKF\MC WN $CTV[EMC DWF[PGM # WN 4QʏF\KGɛUMKGIQ
IFCPUM"TKPVCN RN DQZ MCVQYKEG"TKPVCN RN
YCTU\CYC"TKPVCN RN
)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ )QF\KP[ QVYCTEKC RQP RV QQ QQ
UQDQVC QQ QQ RQP RV QQ QQ UQDQVC QQ QQ
PKGF\KGNC QQ QQ
UQDQVC QQ QQ
UQDQVC QQ QQ PKGF\KGNC QQ QQ
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
4QDGTV 5CF\C &QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[
VGN 4QDGTV 5VCPKU\GYUMK $CTVQU\ )T\GUKQM
T UCF\C"TKPVCN RN VGN VGN
T UVCPKU\GYUMK"TKPVCN RN D IT\GUKQM"TKPVCN RN


$[FIQU\E\ 5\E\GEKP 2Q\PCɛ
WN (QTFQɛUMC WN #PFT\GLC 5VTWIC WN 1DQTPKEMC
D[FIQU\E\"TKPVCN RN U\E\GEKP"TKPVCN RN RQ\PCP"TKPVCN RN
)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ RQP RV QQ QQ
UQDQVC QQ QQ UQDQVC QQ QQ UQDQVC QQ QQ

&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[
/CTKWU\ $KQU\GYUMK /KEJC 0Kʑ[ɛUMK /KEJC 'TRGN
VGN VGN VGN
O DKNQU\GYUMK"TKPVCN RN O PK\[PUMK"TKPVCN RN O GTRGN"TKPVCN RN


ŒȕFʏ -TCMȕY 9TQECY
WN 9TȕDNGYUMKGIQ WN <CMQRKCɛUMC WN $TCPKDQTUMC
NQF\"TKPVCN RN MTCMQY"TKPVCN RN YTQENCY"TKPVCN RN

)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ 2QP 2V QQ QQ
UQDQVC QQ QQ UQDQVC QQ QQ 5QD QQ QQ

&QTCFEC VGEJPKE\P[
&QTCFE[ VGEJPKE\PK
&QTCFE[ VGEJPKE\PK
&QTCFE[ VGEJPKE\PK &QTCFEC VGEJPKE\P[ &QTCFE[ VGEJPKE\PK
/CTKWU\ -CTQNCM ,CPWU\ /KMQCLE\CM 4QDGTV 0KGVT\GDC
VGN VGN VGN
O MCTQNCM"TKPVCN RN L OKMQNCLE\CM"TKPVCN RN T PKGVT\GDC"TKPVCN RN



.WDNKP 1NU\V[P
WN 4WUCMC NQM WN .WDGNUMC
NWDNKP"TKPVCN RN QNU\V[P"TKPVCN RN

)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ
UQDQVC QQ QQ
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[ #PFT\GL -TCUPQFȶDUMK
#PFT
0QTDGTV -WVPKM VGN
VGN C MTCUPQFGDUMK"TKPVCN RN
P MWVPKM"TKPVCN RN YYY TKPVCN RN

HCEGDQQM EQO TKPVCN UEJQF[
&#4/19; 21/+#4 0# 6'4'0+' %#Œ')1 -4#,7
<#24#5<#/; &1 5-14<;56#0+# < 1$'%0', 241/1%,+


(KTOC 4KPVCN RQYUVCC Y TQMW K QF RQPCF NCV LGUV YKQFȤE[O
RTQFWEGPVGO UEJQFȕY FQ YPȶVT\ \CTȕYPQ Y 2QNUEG LCM K PC EC[O
ɮYKGEKG 5VCDKNP[ TQ\YȕL ƒTO[ URTCYKC ʑG \ MCʑF[O TQMKGO 4KPVCN
UVCLG UKȶ EQTC\ OQEPKGLU\[O NKFGTGO Y \CMTGUKG VGEJPKE\P[EJ K
RTQLGMVQY[EJ KPPQYCELK QTC\ VYQT\GPKC PQYQE\GUP[EJ TQ\YKȤ\Cɛ EQ
RT\GMCFC UKȶ PC LCMQɮȦ WUWI FQUVȶRPQɮȦ UCNQPȕY ƒTOQY[EJ Y
ECGL 2QNUEG C VCMʑG TGIWNCTPG YRTQYCF\CPKG PQY[EJ RTQFWMVȕY FQ
QHV[
QHGT

9 UMCF ITWR[ 4KPVCN YEJQF\K RQPCF RTCEQYPKMȕY
\CCPICʑQYCP[EJ Y \CCYCPUQYCP[ U[UVGO RTQFWMELK F\KȶMK
MVȕTGOW LGUVGɮO[ Y UVCPKG \TGCNK\QYCȦ RQPCF \COȕYKGɛ Y
UMCNK TQMW 9 2QNUEG KUVPKGLG UCNQPȕY ƒTOQY[EJ 4KPVCN MVȕTG
QDUWIWLȤ YU\[UVMKG RQNUMKG YQLGYȕF\VYC &QTCFE[ VGEJPKE\PK
4KPVCN UȤ FQ F[URQ\[ELK PC VGTGPKG ECGIQ MTCLW K ɮYKCFE\Ȥ
RTQHGULQPCNPG WUWIK FCTOQYGIQ RQOKCTW \NGECLȤ RTQLGMV QTC\
YK\WCNK\CELȶ FGF[MQYCPȤ YPȶVT
YK\WCNK\CELȶ FGF[MQYCPȤ YPȶVT\QO MNKGPVȕY
5EJQF[ ƒTO[ 4KPVCN ȤE\Ȥ Y UQDKG PQYQE\GUPQɮȦ LCM TȕYPKGʑ MNCU[E\P[ Y[INȤF MVȕT[ RQFMTGɮNK EJCTCMVGT
MCʑFGIQ FQOW K OKGU\MCPKC 5\GTQMK Y[DȕT MQNQTȕY K Y\QTȕY FQUVȶRP[EJ Y QHGTEKG ƒTO[ RQ\YQNK PC
FQRCUQYCPKG RTQFWMVW FQ KPF[YKFWCNP[EJ RQVT\GD MNKGPVC 4KPVCN URGELCNK\WLG UKȶ Y RTQFWMELK UEJQFȕY RTQUV[EJ
\CDKGIQY[EJ MTȶEQP[EJ K URKTCNP[EJ QDQʑGɛ UEJQFȕY DGVQPQY[EJ C VCMʑG DCNWUVTCF K RQTȶE\[ (WPMELQPCNPQɮȦ
K PKGMQPYGPELQPCNP[ Y[INȤF VQ EGEJ[ MVȕT[OK Y[TȕʑPKCLȤ UKȶ YU\[UVMKG RTQFWMV[ ƒTO[



5EJQF[ RTQUVG K UEJQF[ \CDKGIQYG


5EJQF[ MTȶEQPG K UEJQF[ URKTCNPG
5EJQF[ \G UVQRPKCOK U\MNCP[OK

5EJQF[ \G UVQRPKCOK OGVCNQY[OK

1DQʑGPKC UEJQFȕY DGVQPQY[EJ

$CNWUVTCF[ K RQTȶE\G





4KPVCN 2QNUMC 5R \ Q Q <CRTCU\CO[ PC PCU\Ȥ
6E\GY UVTQPȶ KPVGTPGVQYȤ
WN IQ 5V[E\PKC
VGN Y EGNW \CRQ\PCPKC
HCZ
UEJQF["TKPVCN RN UKȶ \ RGPȤ QHGTVȤ
YYY TKPVCN RN


YYY TKPVCN RN


(KTOC 4KPVCN RQYUVCC Y TQMW K QF RQPCF NCV LGUV YKQFȤE[O
RTQFWEGPVGO UEJQFȕY FQ YPȶVT\ \CTȕYPQ Y 2QNUEG LCM K PC EC[O
ɮYKGEKG 5VCDKNP[ TQ\YȕL ƒTO[ URTCYKC ʑG \ MCʑF[O TQMKGO 4KPVCN
UVCLG UKȶ EQTC\ OQEPKGLU\[O NKFGTGO Y \CMTGUKG VGEJPKE\P[EJ K
RTQLGMVQY[EJ KPPQYCELK QTC\ VYQT\GPKC PQYQE\GUP[EJ TQ\YKȤ\Cɛ EQ
RT\GMCFC UKȶ PC LCMQɮȦ WUWI FQUVȶRPQɮȦ UCNQPȕY ƒTOQY[EJ Y
ECGL 2QNUEG C VCMʑG TGIWNCTPG YRTQYCF\CPKG PQY[EJ RTQFWMVȕY FQ
QHV[
QHGT

9 UMCF ITWR[ 4KPVCN YEJQF\K RQPCF RTCEQYPKMȕY
\CCPICʑQYCP[EJ Y \CCYCPUQYCP[ U[UVGO RTQFWMELK F\KȶMK
MVȕTGOW LGUVGɮO[ Y UVCPKG \TGCNK\QYCȦ RQPCF \COȕYKGɛ Y
UMCNK TQMW 9 2QNUEG KUVPKGLG UCNQPȕY ƒTOQY[EJ 4KPVCN MVȕTG
QDUWIWLȤ YU\[UVMKG RQNUMKG YQLGYȕF\VYC &QTCFE[ VGEJPKE\PK
4KPVCN UȤ FQ F[URQ\[ELK PC VGTGPKG ECGIQ MTCLW K ɮYKCFE\Ȥ
RTQHGULQPCNPG WUWIK FCTOQYGIQ RQOKCTW \NGECLȤ RTQLGMV QTC\
YK\WCNK\CELȶ FGF[MQYCPȤ YPȶVT
YK\WCNK\CELȶ FGF[MQYCPȤ YPȶVT\QO MNKGPVȕY
5EJQF[ ƒTO[ 4KPVCN ȤE\Ȥ Y UQDKG PQYQE\GUPQɮȦ LCM TȕYPKGʑ MNCU[E\P[ Y[INȤF MVȕT[ RQFMTGɮNK EJCTCMVGT
MCʑFGIQ FQOW K OKGU\MCPKC 5\GTQMK Y[DȕT MQNQTȕY K Y\QTȕY FQUVȶRP[EJ Y QHGTEKG ƒTO[ RQ\YQNK PC
FQRCUQYCPKG RTQFWMVW FQ KPF[YKFWCNP[EJ RQVT\GD MNKGPVC 4KPVCN URGELCNK\WLG UKȶ Y RTQFWMELK UEJQFȕY RTQUV[EJ
\CDKGIQY[EJ MTȶEQP[EJ K URKTCNP[EJ QDQʑGɛ UEJQFȕY DGVQPQY[EJ C VCMʑG DCNWUVTCF K RQTȶE\[ (WPMELQPCNPQɮȦ
K PKGMQPYGPELQPCNP[ Y[INȤF VQ EGEJ[ MVȕT[OK Y[TȕʑPKCLȤ UKȶ YU\[UVMKG RTQFWMV[ ƒTO[



5EJQF[ RTQUVG K UEJQF[ \CDKGIQYG


5EJQF[ MTȶEQPG K UEJQF[ URKTCNPG
5EJQF[ \G UVQRPKCOK U\MNCP[OK

5EJQF[ \G UVQRPKCOK OGVCNQY[OK

1DQʑGPKC UEJQFȕY DGVQPQY[EJ

$CNWUVTCF[ K RQTȶE\G





4KPVCN 2QNUMC 5R \ Q Q <CRTCU\CO[ PC PCU\Ȥ
6E\GY UVTQPȶ KPVGTPGVQYȤ
WN IQ 5V[E\PKC
VGN Y EGNW \CRQ\PCPKC
HCZ
UEJQF["TKPVCN RN UKȶ \ RGPȤ QHGTVȤ
YYY TKPVCN RN


YYY TKPVCN RN


5EJQF[




\CDKGIQYG












































&#4/19; 21/+#4 0# 6'4'0+' %#Œ')1 -4#,7 -.+-0+, + 524#9&ʎ 5<%<')ǺŒ; 1$'%0', 241/1%,+


5EJQF[




\CDKGIQYG












































&#4/19; 21/+#4 0# 6'4'0+' %#Œ')1 -4#,7 -.+-0+, + 524#9&ʎ 5<%<')ǺŒ; 1$'%0', 241/1%,+


5EJQF[ \CDKGIQYG






5EJQF[ VQ DCTF\Q YCʑP[ GNGOGPV FQOW /WUK D[Ȧ QP \CTȕYPQ HWPMELQPCNP[ DG\RKGE\P[ LCM K RGTHGME[LPKG Y[MQPCP[
9 QFRQYKGF\K PC VG \CQʑGPKC C VCMʑG Y VTQUEG Q PCLY[ʑU\Ȥ LCMQɮȦ RTQFWMVW ƒTOC 4KPVCN UVYQT\[C U\GTQMȤ QHGTVȶ
UEJQFȕY RTQUV[EJ K \CDKGIQY[EJ 5EJQF[ VG EGEJWLG WMCF LGFPQDKGIQY[ NWD YKGNQDKGIQY[ <CRTQLGMVQYCPG \
PCLYKȶMU\Ȥ RTGE[\LȤ UEJQF[ 4KPVCN \PCNC\[ UYQLG \CUVQUQYCPKG Y FQOCEJ V[UKȶE[ MNKGPVȕY PC EC[O ɮYKGEKG
4ȕʑPQTQFPG UV[NKUV[E\PG NKPKG PQYQE\GUPG NWD OKPKOCNKUV[E\PG VTCF[E[LPG NWD OQFWQYG FTGYPKCPG NWD OGVCNQYG
URGPKCLȤ QE\GMKYCPKC PCLDCTF\KGL Y[OCICLȤE[EJ MNKGPVȕY



5EJQF[ 1661

5EJQF[ /#;# 0 1 9 1 ɭ ȥ 1V VQ OQFGN UEJQFȕY F[YCPQY[EJ PC MQPUVTWMELK UCOQPQɮPGL
1VVQ
RT\[RQOKPCLȤE[EJ F[YCP UR[YCLȤE[ RQ PKGYKFQE\P[EJ UVQRPKCEJ
5EJQF[ /C[C VQ 0QYQɮȦ TQMW 6GP VTCF[E[LP[ GNGICPEMK OQFGN QRKGTC UKȶ &TGYPKCPC MQPUVTWMELC RQ\DCYKQPC LGUV RQNKE\MȕY K RT\[OQEQYCPC LGUV
PC MQPUVTWMELK RQNKE\MQYGL Y[EKȶVGL RQ EJCTCMVGT[UV[E\P[O WMW ,GUV QPC DG\RQɮTGFPKQ FQ ɮEKCP[ \C RQOQEȤ URGELCNPGIQ U[UVGOW YURQTPKMQYGIQ
Y[MQPCPC \ PCLY[ʑU\GL LCMQɮEK FTGYPC /C[C Y[UVȶRWLG Y FYȕEJ YCTKCPVCEJ /QFGN 1VVQ ȤE\[ Y[VT\[OCQɮȦ UVCDKNPQɮȦ K DG\RKGE\GɛUVYQ \
FQ Y[DQTW \ RQFUVQRPKCOK NWD DG\ PKGRQYVCT\CNP[O FGUKIPGO MVȕT[ EKGU\[ UKȶ QITQOPȤ RQRWNCTPQɮEKȤ






5EJQF[ 56'..# 5EJQF[ .+0'#


< LGFPGL UVTQP[ UWTQYQɮȦ K OKGLUMK UV[N \ FTWIKGL FGNKMCVPQɮȦ K NGMMQɮȦ 5VGNNC VQ /QFGN .KPGC Y[TȕʑPKC UKȶ DTCMKGO E\ȶɮEK MQPUVTWMELK 6Q UEJQF[ YURQTPKMQYG
PQYQɮȦ PC TQM 9CTKCELC PCLRQRWNCTPKGLU\[EJ OQFGNK UEJQFȕY 4KPVCN Q GMUMNW\[YP[O U[UVGOKG OQEQYCPKC FQ ɮEKCP[ QTC\ NKPGCTP[O FGUKIPKG
/QPQNCO[ K (WVWT[ 1YCNPG QVYQT[ Y MQPUVTWMELK YRTQYCF\CLȤ MQPVTCUVWLȤE[ &GF[MQYCPȤ OQFGNQYK DCNWUVTCFȶ K RQTȶE\ OQPVWLG UKȶ DG\RQɮTGFPKQ FQ
UOWM[ GNGOGPV FQ RTQUVGL U\V[YPGL PQYQE\GUPGL MQPUVTWMELK UVQRPK -QPUVTWMELC OQFGNW .KPGC LGUV \CTC\GO UVCDKNPC K NGMMC 5EJQF[
IYCTCPVWLȤ \CTȕYPQ DG\RKGE\GɛUVYQ LCM K GNGICPELȶ






5EJQF[ /101.#/# 5EJQF[ /+.1


2TQUVC NKPKC KPFWUVTKCNP[ EJCTCMVGT K Y[UQMKGL LCMQɮEK OCVGTKC[ VQ IȕYPG /KNQ VQ MNCU[E\P[ OQFGN UEJQFȕY PC MQPUVTWMELK FTGYPKCPGL 2QPCFE\CUQYQɮȦ
EGEJ[ /QPQNCO[ /QFGN KFGCNPKG YRKUWLG UKȶ Y CTEJKVGMVWTȶ DKWT JQVGNK FTGYPC RTQUVC MQPUVTWMELC K Y[UQMKGL LCMQɮEK VGEJPQNQIKC K RT\[UVȶRPC EGPC VQ
RT\GUVT\GPK RWDNKE\P[EJ K KPP[EJ OKGLUE IF\KG HWPMELQPCNPQɮȦ PKGYȤVRNKYKG IȕYPG \CNGV[ PQYGIQ OQFGNW 9 RT\[RCFMW UEJQFȕY /KNQ EKGRQ
DG\RKGE\GɛUVYQ K GUVGV[MC UȤ PCLYCʑPKGLU\G 2QOKȶF\[ UVCNQYG RQNKE\MK FTGYPC OQʑG \QUVCȦ RT\GCOCPG RQRT\G\ \CUVQUQYCPKG OCNQYCP[EJ
UEJQFȕY OQʑPC OQEQYCȦ UVQRPKG FTGYPKCPG OGVCNQYG C VCMʑG U\MNCPG F[UVCPUȕY OGVCNQY[EJ NWD EJTQOQYCP[EJ







5EJQF[ #+4# 5EJQF[ -01%- 911&


#KTC VQ RTGE[\[LPKG Y[MQPCPG PQYQE\GUPG UEJQF[ \G UVQRPKCOK \ NKVGIQ 5EJQF[ -PQEM 9QQF EJCTCMVGT[\WLȤ UKȶ FWʑ[OK OQʑNKYQɮEKCOK CFCRVCE[LP[OK
FTGYPC -QPUVTWMELC QRKGTC UKȶ \ LGFPGL UVTQP[ PC OGVCNQY[EJ VT\RKGPKCEJ K MQORCMVQY[OK TQ\OKCTCOK .GMMC MQPUVTWMELC FTGYPKCPC WDTCPC Y
OQEQYCP[EJ Y ɮEKCPKG C \ FTWIKGL PC JCTVQYCP[EJ GNGOGPVCEJ U\MNCP[EJ PQYQE\GUP[ FGUKIP PCFCLȤ V[O UEJQFQO RQPCFE\CUQYGL GUVGV[MK 1RTȕE\
&\KȶMK \CUVQUQYCPKW U\MC RT\GUVT\Gɛ QRV[E\PKG RQYKȶMU\C UKȶ C UEJQF[ RTQUV[EJ K \CDKGIQY[EJ WMCFȕY UEJQF[ -PQEM 9QQF Y[UVȶRWLȤ VCMʑG Y YGTULK
URTCYKCLȤ YTCʑGPKG NGYKVWLȤE[EJ Y RQYKGVT\W URKTCNPGL K \ YDWFQYCP[O QɮYKGVNGPKGO


5EJQF[ \CDKGIQYG






5EJQF[ VQ DCTF\Q YCʑP[ GNGOGPV FQOW /WUK D[Ȧ QP \CTȕYPQ HWPMELQPCNP[ DG\RKGE\P[ LCM K RGTHGME[LPKG Y[MQPCP[
9 QFRQYKGF\K PC VG \CQʑGPKC C VCMʑG Y VTQUEG Q PCLY[ʑU\Ȥ LCMQɮȦ RTQFWMVW ƒTOC 4KPVCN UVYQT\[C U\GTQMȤ QHGTVȶ
UEJQFȕY RTQUV[EJ K \CDKGIQY[EJ 5EJQF[ VG EGEJWLG WMCF LGFPQDKGIQY[ NWD YKGNQDKGIQY[ <CRTQLGMVQYCPG \
PCLYKȶMU\Ȥ RTGE[\LȤ UEJQF[ 4KPVCN \PCNC\[ UYQLG \CUVQUQYCPKG Y FQOCEJ V[UKȶE[ MNKGPVȕY PC EC[O ɮYKGEKG
4ȕʑPQTQFPG UV[NKUV[E\PG NKPKG PQYQE\GUPG NWD OKPKOCNKUV[E\PG VTCF[E[LPG NWD OQFWQYG FTGYPKCPG NWD OGVCNQYG
URGPKCLȤ QE\GMKYCPKC PCLDCTF\KGL Y[OCICLȤE[EJ MNKGPVȕY



5EJQF[ 1661

5EJQF[ /#;# 0 1 9 1 ɭ ȥ 1V VQ OQFGN UEJQFȕY F[YCPQY[EJ PC MQPUVTWMELK UCOQPQɮPGL
1VVQ
RT\[RQOKPCLȤE[EJ F[YCP UR[YCLȤE[ RQ PKGYKFQE\P[EJ UVQRPKCEJ
5EJQF[ /C[C VQ 0QYQɮȦ TQMW 6GP VTCF[E[LP[ GNGICPEMK OQFGN QRKGTC UKȶ &TGYPKCPC MQPUVTWMELC RQ\DCYKQPC LGUV RQNKE\MȕY K RT\[OQEQYCPC LGUV
PC MQPUVTWMELK RQNKE\MQYGL Y[EKȶVGL RQ EJCTCMVGT[UV[E\P[O WMW ,GUV QPC DG\RQɮTGFPKQ FQ ɮEKCP[ \C RQOQEȤ URGELCNPGIQ U[UVGOW YURQTPKMQYGIQ
Y[MQPCPC \ PCLY[ʑU\GL LCMQɮEK FTGYPC /C[C Y[UVȶRWLG Y FYȕEJ YCTKCPVCEJ /QFGN 1VVQ ȤE\[ Y[VT\[OCQɮȦ UVCDKNPQɮȦ K DG\RKGE\GɛUVYQ \
FQ Y[DQTW \ RQFUVQRPKCOK NWD DG\ PKGRQYVCT\CNP[O FGUKIPGO MVȕT[ EKGU\[ UKȶ QITQOPȤ RQRWNCTPQɮEKȤ






5EJQF[ 56'..# 5EJQF[ .+0'#


< LGFPGL UVTQP[ UWTQYQɮȦ K OKGLUMK UV[N \ FTWIKGL FGNKMCVPQɮȦ K NGMMQɮȦ 5VGNNC VQ /QFGN .KPGC Y[TȕʑPKC UKȶ DTCMKGO E\ȶɮEK MQPUVTWMELK 6Q UEJQF[ YURQTPKMQYG
PQYQɮȦ PC TQM 9CTKCELC PCLRQRWNCTPKGLU\[EJ OQFGNK UEJQFȕY 4KPVCN Q GMUMNW\[YP[O U[UVGOKG OQEQYCPKC FQ ɮEKCP[ QTC\ NKPGCTP[O FGUKIPKG
/QPQNCO[ K (WVWT[ 1YCNPG QVYQT[ Y MQPUVTWMELK YRTQYCF\CLȤ MQPVTCUVWLȤE[ &GF[MQYCPȤ OQFGNQYK DCNWUVTCFȶ K RQTȶE\ OQPVWLG UKȶ DG\RQɮTGFPKQ FQ
UOWM[ GNGOGPV FQ RTQUVGL U\V[YPGL PQYQE\GUPGL MQPUVTWMELK UVQRPK -QPUVTWMELC OQFGNW .KPGC LGUV \CTC\GO UVCDKNPC K NGMMC 5EJQF[
IYCTCPVWLȤ \CTȕYPQ DG\RKGE\GɛUVYQ LCM K GNGICPELȶ






5EJQF[ /101.#/# 5EJQF[ /+.1


2TQUVC NKPKC KPFWUVTKCNP[ EJCTCMVGT K Y[UQMKGL LCMQɮEK OCVGTKC[ VQ IȕYPG /KNQ VQ MNCU[E\P[ OQFGN UEJQFȕY PC MQPUVTWMELK FTGYPKCPGL 2QPCFE\CUQYQɮȦ
EGEJ[ /QPQNCO[ /QFGN KFGCNPKG YRKUWLG UKȶ Y CTEJKVGMVWTȶ DKWT JQVGNK FTGYPC RTQUVC MQPUVTWMELC K Y[UQMKGL LCMQɮEK VGEJPQNQIKC K RT\[UVȶRPC EGPC VQ
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RTQU\MQYG EJTQOQYCPKG RQNGTQYCPKG U\NKHQYCPKG C VCMʑG ȤE\GPKG V[EJʑG GNGOGPVȕY \ KPP[OK OCVGTKCCOK PR LCMQɮȦ Y LGFP[O $CNWUVTCF[ VG OQPVWLG UKȶ PC UVQRKGɛ NWD FQ DQMW UVQRPKC
FTGYPGO QTC\ U\MGO





5\MQ \G UWRMKGO FTGYPKCP[O 0 1 9 1 ɭ ȥ $CNWUVTCFC <'0+6* 5<-.#0#

5\MNCPG DCNWUVTCF[ <GPKVJ VQ \CUVȤRKGPKG OGVCNQY[EJ TWTGM UVCPQYKȤE[EJ
+FGCNPG TQ\YKȤ\CPKG Y OKPKOCNKUV[E\P[EJ K PKGVW\KPMQY[EJ 5\MNCPG
YPȶVT\CEJ 6Q OKPKOCNKUV[E\PC K RTQUVC Y HQTOKG DCNWUVTCFC Y[RGPKGPKG Y MNCU[E\P[O OQFGNW <GPKVJ VCHNȤ U\MNCPȤ 2TQUVC HQTOC
UVCPQYKȤEC PQYQɮȦ Y QHGTEKG 4KPVCN 'MUMNW\[YPC K GNGICPEMC HQTOC DCNWUVTCF[ URTCYKC ʑG OQʑG D[Ȧ QPC \CUVQUQYCPC \ MCʑF[O V[RGO UEJQFȕY
VGL DCNWUVTCF[ FQFCLG PCYGV PCLRTQUVU\[O UEJQFQO PQYQE\GUPQɮEK PC MQPUVTWMELK FTGYPKCPGL K OGVCNQYGL MNCU[E\P[EJ K PQYQE\GUP[EJ
K CVTCME[LPGIQ Y[INȤFW 'MUMNW\[YPC K GNGICPEMC HQTOC VGL DCNWUVTCF[ FQFCLG PCYGV PCLRTQUVU\[O
UEJQFQO PQYQE\GUPQɮEK K CVTCME[LPGIQ Y[INȤFW





$CNWUVTCFC 6#(.# 5<-.#0#
$CNWUVTCFC .CUGT 0 1 9 1 ɭ ȥ
$CNWUVTCFC[RW 6CHNC 5\MNCPC VYQT\[ RKȶMPȤ K GMUMNW\[YPȤ QRTCYȶ UEJQFȕY
$CNWUVTCFC V
2TȶE\G K DCNWUVTCF[ .CUGT VQ PQYQE\GUPQɮȦ K VGEJPQNQIKC Y LGFP[O 9[MQPCPG
2Q 5RTCYKC ʑG YPȶVT\G Y[FCLG UKȶ DCTF\KGL PQYQE\GUPG RT\GUVTQPPG K LCUPG &Q
UȤ \ DNCEJ[ Q ITWDQɮEK OO OCNQYCPGL RTQU\MQYQ /QʑPC UVQUQYCȦ FQ PKEJ RTQFWMELK VGL DCNWUVTCF[ UVQUWLG UKȶ TȕʑPG TQF\CLG U\MC DG\DCTYPG MNCU[E\PG
RQEJY[V Q RT\GMTQLW Z OO /QPVWLG UKȶ LG FQ DQMW UVQRPK NWD FQ E\QC
UVTQRW 5Ȥ KFGCNP[O TQ\YKȤ\CPKGO Y OKPKOCNKUV[E\P[EJ K PKGVW\KPMQY[EJ QRVKYJKVG QTC\ MQNQTQYG 9 EGNW \CRGYPKGPC DG\RKGE\GɛUVYC Wʑ[VMQYCPKC
U\MQ LGUV MNGLQPG FYWYCTUVYQYQ \ \CUVQUQYCPKGO HQNKQYGIQ NCOKPCVW QTC\
YPȶVT\CEJ 6GEJPQNQIKC Y[EKPCPKC NCUGTQYGIQ FCLG PKGQITCPKE\QPG OQʑNKYQɮEK JCTVQYCPG
Y KEJ RTQLGMVQYCPKW \IQFPKG \G Y\QTGO K WRQFQDCPKCOK MNKGPVC



$CNWUVTCFC /7.6+$.#&'
$CNWUVTCFC 9'.& 0 1 9 1 ɭ ȥ
/WNVKDNCFG V
/WNVKDNCFGQ PQYQE\GUP[ HWVWT[UV[E\P[ OQFGN DCNWUVTCF Y[MQPCP[ \G UVCNK
9GNF VQ OKPKOCNKUV[E\PC K RTQUVC Y HQTOKG DCNWUVTCFC UVCPQYKȤEC PQYQɮȦ Y \YKGɛE\QP[ UVCNQY[O NWD FTGYPKCP[O RQEJY[VGO 2KQPQYG VTCNMK Q
QHGTEKG 4KPVCN $CNWUVTCFC VC Y[MQP[YCPC LGUV \ RTQƒNK \COMPKȶV[EJ IGQOGVT[E\PGL NWD \CQDNQPGL HQTOKG UVCPQYKȤ RQFUVCYȶ OQEQYCPKC
RTQUVQMȤVP[EJ URCYCP[EJ C PCUVȶRPKG OCNQYCP[EJ RTQU\MQYQ #NVGTPCV[PKG RQ\KQO[EJ UVCNQY[EJ TWTGM 9KGNG YCTKCPVȕY MQNQT[UV[E\P[EJ DCNWUVTCF
KUVPKGLG OQʑNKYQɮȦ \CUVQUQYCPKC FTGYPKCPGIQ RQEJY[VW QTC\ Y[RGPKGPKC \ /WNVKDNCFG URTCYKC ʑG Y RQȤE\GPKW \ NKE\P[OK RCUWLȤE[OK FQ PKEJ OQFGNCOK
TWTGM NWD RCUMQYPKMȕY UEJQFȕY \CTȕYPQ \CDKGIQY[OK LCM K MTȶEQP[OK UVYQT\Ȥ YKGNG YCTKCPVȕY
YK\WCNP[EJ K HQTO Y[MQɛE\GPKC YPȶVT\




$CNWUVTCFC (+.1
$CNWUVTCFC %.#55+%
(KNQQ UVCNQYC DCNWUVTCFC Q RTQUVGL PQYQE\GUPGL K GNGICPEMKGL NKPKK 9[MQPCPG
(KNQ V
%NCUUKE 4WTMK 6Q MNCU[E\PC DCNWUVTCFC MVȕTC YK\WCNPKG MQORQPWLG UKȶ \ \ OGVCNW RKQPQYG VTCNMK UVCPQYKȤ \CTC\GO HWPMELQPCNPG LCM K FGMQTCE[LPG
MCʑF[O OQFGNGO UEJQFȕY 4KPVCN ,GUV VQ RQTȶE\ UMCFCLȤEC UKȶ \G UWRMȕY TWU\VQYCPKG FNC RQ\KQO[EJ UVCNQY[EJ TWTGM $CNWUVTCFC VC \YKGɛE\QPC LGUV
MYCFTCVQY[EJ NWD QMTȤI[EJ RQEJY[VW FTGYPKCPGIQ NWD OGVCNQYGIQ RQEJY[VGO OGVCNQY[O NWD FTGYPKCP[O 2QTȶE\ OQʑPC \COQPVQYCȦ \CTȕYPQ
Y[RGPKQPC Y YCTKCPEKG UVCPFCTFQY[O E\VGTGOC TWTMCOK \G UVCNK PKGTF\GYPGL FQ IȕTPGL RQYKGT\EJPK UVQRPKC LCM K DQMW NWD URQFW UVQRPKC Y \CNGʑPQɮEK QF
MQPUVTWMELK UEJQFȕY


$CNWUVTCF[ K RQTȶE\G


$CNWUVTCFC <'0+6*


$CNWUVTCF[ K RQTȶE\G 4KPVCN EGEJWLG DQICEVYQ Y\QTȕY OCVGTKCȕY K MU\VCVȕY ,GUV VQ Q\FQDP[ K LGFPQE\GɮPKG <GPKVJ VQ OGVCNQYG GNGICPEMKG DCNWUVTCF[ K RQTȶE\G &QUMQPCNG URTCYF\CLȤ
IYCTCPVWLȤE[ DG\RKGE\GɛUVYQ GNGOGPV UEJQFȕY &\KȶMK VGOW ƒTOC QHGTWLG UYQKO MNKGPVQO U\GTQMK Y[DȕT K UKȶ Y RQȤE\GPKW \G UEJQFCOK Q MNCU[E\PGL LCM K PQYQE\GUPGL E\[
OQʑNKYQɮȦ PCFCPKC KPF[YKFWCNPGIQ EJCTCMVGTW UEJQFQO /QʑNKYG UȤ TȕʑPG TQF\CLG QDTȕDMK RQYKGT\EJPK OCNQYCPKG OKPKOCNKUV[E\PGL HQTOKG /CTKCʑ FTGYPC UEJQFȕY K OGVCNW VQ GNGICPELC K
RTQU\MQYG EJTQOQYCPKG RQNGTQYCPKG U\NKHQYCPKG C VCMʑG ȤE\GPKG V[EJʑG GNGOGPVȕY \ KPP[OK OCVGTKCCOK PR LCMQɮȦ Y LGFP[O $CNWUVTCF[ VG OQPVWLG UKȶ PC UVQRKGɛ NWD FQ DQMW UVQRPKC
FTGYPGO QTC\ U\MGO





5\MQ \G UWRMKGO FTGYPKCP[O 0 1 9 1 ɭ ȥ $CNWUVTCFC <'0+6* 5<-.#0#

5\MNCPG DCNWUVTCF[ <GPKVJ VQ \CUVȤRKGPKG OGVCNQY[EJ TWTGM UVCPQYKȤE[EJ
+FGCNPG TQ\YKȤ\CPKG Y OKPKOCNKUV[E\P[EJ K PKGVW\KPMQY[EJ 5\MNCPG
YPȶVT\CEJ 6Q OKPKOCNKUV[E\PC K RTQUVC Y HQTOKG DCNWUVTCFC Y[RGPKGPKG Y MNCU[E\P[O OQFGNW <GPKVJ VCHNȤ U\MNCPȤ 2TQUVC HQTOC
UVCPQYKȤEC PQYQɮȦ Y QHGTEKG 4KPVCN 'MUMNW\[YPC K GNGICPEMC HQTOC DCNWUVTCF[ URTCYKC ʑG OQʑG D[Ȧ QPC \CUVQUQYCPC \ MCʑF[O V[RGO UEJQFȕY
VGL DCNWUVTCF[ FQFCLG PCYGV PCLRTQUVU\[O UEJQFQO PQYQE\GUPQɮEK PC MQPUVTWMELK FTGYPKCPGL K OGVCNQYGL MNCU[E\P[EJ K PQYQE\GUP[EJ
K CVTCME[LPGIQ Y[INȤFW 'MUMNW\[YPC K GNGICPEMC HQTOC VGL DCNWUVTCF[ FQFCLG PCYGV PCLRTQUVU\[O
UEJQFQO PQYQE\GUPQɮEK K CVTCME[LPGIQ Y[INȤFW





$CNWUVTCFC 6#(.# 5<-.#0#
$CNWUVTCFC .CUGT 0 1 9 1 ɭ ȥ
$CNWUVTCFC[RW 6CHNC 5\MNCPC VYQT\[ RKȶMPȤ K GMUMNW\[YPȤ QRTCYȶ UEJQFȕY
$CNWUVTCFC V
2TȶE\G K DCNWUVTCF[ .CUGT VQ PQYQE\GUPQɮȦ K VGEJPQNQIKC Y LGFP[O 9[MQPCPG
2Q 5RTCYKC ʑG YPȶVT\G Y[FCLG UKȶ DCTF\KGL PQYQE\GUPG RT\GUVTQPPG K LCUPG &Q
UȤ \ DNCEJ[ Q ITWDQɮEK OO OCNQYCPGL RTQU\MQYQ /QʑPC UVQUQYCȦ FQ PKEJ RTQFWMELK VGL DCNWUVTCF[ UVQUWLG UKȶ TȕʑPG TQF\CLG U\MC DG\DCTYPG MNCU[E\PG
RQEJY[V Q RT\GMTQLW Z OO /QPVWLG UKȶ LG FQ DQMW UVQRPK NWD FQ E\QC
UVTQRW 5Ȥ KFGCNP[O TQ\YKȤ\CPKGO Y OKPKOCNKUV[E\P[EJ K PKGVW\KPMQY[EJ QRVKYJKVG QTC\ MQNQTQYG 9 EGNW \CRGYPKGPC DG\RKGE\GɛUVYC Wʑ[VMQYCPKC
U\MQ LGUV MNGLQPG FYWYCTUVYQYQ \ \CUVQUQYCPKGO HQNKQYGIQ NCOKPCVW QTC\
YPȶVT\CEJ 6GEJPQNQIKC Y[EKPCPKC NCUGTQYGIQ FCLG PKGQITCPKE\QPG OQʑNKYQɮEK JCTVQYCPG
Y KEJ RTQLGMVQYCPKW \IQFPKG \G Y\QTGO K WRQFQDCPKCOK MNKGPVC



$CNWUVTCFC /7.6+$.#&'
$CNWUVTCFC 9'.& 0 1 9 1 ɭ ȥ
/WNVKDNCFG V
/WNVKDNCFGQ PQYQE\GUP[ HWVWT[UV[E\P[ OQFGN DCNWUVTCF Y[MQPCP[ \G UVCNK
9GNF VQ OKPKOCNKUV[E\PC K RTQUVC Y HQTOKG DCNWUVTCFC UVCPQYKȤEC PQYQɮȦ Y \YKGɛE\QP[ UVCNQY[O NWD FTGYPKCP[O RQEJY[VGO 2KQPQYG VTCNMK Q
QHGTEKG 4KPVCN $CNWUVTCFC VC Y[MQP[YCPC LGUV \ RTQƒNK \COMPKȶV[EJ IGQOGVT[E\PGL NWD \CQDNQPGL HQTOKG UVCPQYKȤ RQFUVCYȶ OQEQYCPKC
RTQUVQMȤVP[EJ URCYCP[EJ C PCUVȶRPKG OCNQYCP[EJ RTQU\MQYQ #NVGTPCV[PKG RQ\KQO[EJ UVCNQY[EJ TWTGM 9KGNG YCTKCPVȕY MQNQT[UV[E\P[EJ DCNWUVTCF
KUVPKGLG OQʑNKYQɮȦ \CUVQUQYCPKC FTGYPKCPGIQ RQEJY[VW QTC\ Y[RGPKGPKC \ /WNVKDNCFG URTCYKC ʑG Y RQȤE\GPKW \ NKE\P[OK RCUWLȤE[OK FQ PKEJ OQFGNCOK
TWTGM NWD RCUMQYPKMȕY UEJQFȕY \CTȕYPQ \CDKGIQY[OK LCM K MTȶEQP[OK UVYQT\Ȥ YKGNG YCTKCPVȕY
YK\WCNP[EJ K HQTO Y[MQɛE\GPKC YPȶVT\




$CNWUVTCFC (+.1
$CNWUVTCFC %.#55+%
(KNQQ UVCNQYC DCNWUVTCFC Q RTQUVGL PQYQE\GUPGL K GNGICPEMKGL NKPKK 9[MQPCPG
(KNQ V
%NCUUKE 4WTMK 6Q MNCU[E\PC DCNWUVTCFC MVȕTC YK\WCNPKG MQORQPWLG UKȶ \ \ OGVCNW RKQPQYG VTCNMK UVCPQYKȤ \CTC\GO HWPMELQPCNPG LCM K FGMQTCE[LPG
MCʑF[O OQFGNGO UEJQFȕY 4KPVCN ,GUV VQ RQTȶE\ UMCFCLȤEC UKȶ \G UWRMȕY TWU\VQYCPKG FNC RQ\KQO[EJ UVCNQY[EJ TWTGM $CNWUVTCFC VC \YKGɛE\QPC LGUV
MYCFTCVQY[EJ NWD QMTȤI[EJ RQEJY[VW FTGYPKCPGIQ NWD OGVCNQYGIQ RQEJY[VGO OGVCNQY[O NWD FTGYPKCP[O 2QTȶE\ OQʑPC \COQPVQYCȦ \CTȕYPQ
Y[RGPKQPC Y YCTKCPEKG UVCPFCTFQY[O E\VGTGOC TWTMCOK \G UVCNK PKGTF\GYPGL FQ IȕTPGL RQYKGT\EJPK UVQRPKC LCM K DQMW NWD URQFW UVQRPKC Y \CNGʑPQɮEK QF
MQPUVTWMELK UEJQFȕY


5CNQP[ URT\GFCʑ[







)FCɛUM 5\CFȕMK 9CTU\CYC -CVQYKEG
WN 2T\[YKF\MC WN $CTV[EMC DWF[PGM # WN 4QʏF\KGɛUMKGIQ
IFCPUM"TKPVCN RN DQZ MCVQYKEG"TKPVCN RN
YCTU\CYC"TKPVCN RN
)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ )QF\KP[ QVYCTEKC RQP RV QQ QQ
UQDQVC QQ QQ RQP RV QQ QQ UQDQVC QQ QQ
PKGF\KGNC QQ QQ
UQDQVC QQ QQ
UQDQVC QQ QQ PKGF\KGNC QQ QQ
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
4QDGTV 5CF\C &QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[
VGN 4QDGTV 5VCPKU\GYUMK $CTVQU\ )T\GUKQM
T UCF\C"TKPVCN RN VGN VGN
T UVCPKU\GYUMK"TKPVCN RN D IT\GUKQM"TKPVCN RN


$[FIQU\E\ 5\E\GEKP 2Q\PCɛ
WN (QTFQɛUMC WN #PFT\GLC 5VTWIC WN 1DQTPKEMC
D[FIQU\E\"TKPVCN RN U\E\GEKP"TKPVCN RN RQ\PCP"TKPVCN RN
)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ RQP RV QQ QQ
UQDQVC QQ QQ UQDQVC QQ QQ UQDQVC QQ QQ

&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[ &QTCFEC VGEJPKE\P[
/CTKWU\ $KQU\GYUMK /KEJC 0Kʑ[ɛUMK /KEJC 'TRGN
VGN VGN VGN
O DKNQU\GYUMK"TKPVCN RN O PK\[PUMK"TKPVCN RN O GTRGN"TKPVCN RN


ŒȕFʏ -TCMȕY 9TQECY
WN 9TȕDNGYUMKGIQ WN <CMQRKCɛUMC WN $TCPKDQTUMC
NQF\"TKPVCN RN MTCMQY"TKPVCN RN YTQENCY"TKPVCN RN

)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ 2QP 2V QQ QQ
UQDQVC QQ QQ UQDQVC QQ QQ 5QD QQ QQ

&QTCFEC VGEJPKE\P[
&QTCFE[ VGEJPKE\PK
&QTCFE[ VGEJPKE\PK
&QTCFE[ VGEJPKE\PK &QTCFEC VGEJPKE\P[ &QTCFE[ VGEJPKE\PK
/CTKWU\ -CTQNCM ,CPWU\ /KMQCLE\CM 4QDGTV 0KGVT\GDC
VGN VGN VGN
O MCTQNCM"TKPVCN RN L OKMQNCLE\CM"TKPVCN RN T PKGVT\GDC"TKPVCN RN



.WDNKP 1NU\V[P
WN 4WUCMC NQM WN .WDGNUMC
NWDNKP"TKPVCN RN QNU\V[P"TKPVCN RN

)QF\KP[ QVYCTEKC )QF\KP[ QVYCTEKC
RQP RV QQ QQ RQP RV QQ QQ
UQDQVC QQ QQ
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[
&QTCFEC VGEJPKE\P[ #PFT\GL -TCUPQFȶDUMK
#PFT
0QTDGTV -WVPKM VGN
VGN C MTCUPQFGDUMK"TKPVCN RN
P MWVPKM"TKPVCN RN YYY TKPVCN RN

HCEGDQQM EQO TKPVCN UEJQF[
&#4/19; 21/+#4 0# 6'4'0+' %#Œ')1 -4#,7
<#24#5<#/; &1 5-14<;56#0+# < 1$'%0', 241/1%,+


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