Bosch Gas Hob User manual

Brand: Bosch

Model: Gas Hob

Type: User manual

*9000796911*  %



Ø 0RQWDJHDQOHLWXQJ

Ú ,QVWDOODWLRQLQVWUXFWLRQV

Û ,QVWUXFFLRQHVGHPRQWDMH

Þ 1RWLFHGHPRQWDJH

â ,VWUX]LRQLSHULOPRQWDJJLR

é ,QVWDOODWLHYRRUVFKULIW

ì ,QVWUXo}HVGHPRQWDJHP













¸





PLQ

PLQ

PLQ

PLQ

PLQ

PLQ

a



PLQ

PD[

PLQ

PLQ



PLQ





PLQ

PD[









D



D





9

9

99









.POUBHFBOMFJUVOH

6LFKHUKHLWVKLQZHLVH

-FTFO4JFEJF(FCSBVDITBOXFJTVOHG¼SEBT(FS¤UCFWPS4JFFT

JOTUBMMJFSFOVOECFOVU[FO

%JF"CCJMEVOHFOJOEJFTFS"OMFJUVOHEJFOFOEFS7FSBOTDIBVMJ

DIVOH

'HU +HUVWHOOHU LVW MHJOLFKHU 9HUDQWZRUWXQJ HQWKREHQ ZHQQ GLH

%HVWLPPXQJHQGLHVHV+DQGEXFKVQLFKWHLQJHKDOWHQZHUGHQ

$OOH,QVWDOODWLRQV5HJHOXQJVXQG8PVWHOOXQJVDUEHLWHQDXI

HLQHDQGHUH*DVDUWPVVHQYRQHLQHPDXWRULVLHUWHQ)DFK

PDQQXQGXQWHU%HDFKWXQJGHUMHZHLOVDQZHQGEDUHQ5HJH

OXQJHQXQGJHVHW]OLFKHQ9RUJDEHQVRZLHGHU9RUVFKULIWHQ

GHU|UWOLFKHQ6WURPXQG*DVYHUVRUJHUYRUJHQRPPHQZHU

GHQ

)U8PVWHOOXQJVDUEHLWHQDXIHLQHDQGHUH*DVDUWHPSIHKOHQ

ZLUGHQ.XQGHQGLHQVW]XUXIHQ

6WHOOHQ6LHYRUGHU'XUFKIKUXQJMHJOLFKHU$UEHLWHQGLH

6WURPXQG*DV]XIXKUDE

%JFTFT(FS¤UXVSEFBVTTDIMJFMJDIG¼SEJF7FSXFOEVOHJO1SJWBU

IBVTIBMUFOFOUXPSGFOFJOFLPNNFS[JFMMFPEFSHFXFSCMJDIF/VU

[VOH JTU OJDIU HFTUBUUFU %JFTFT (FS¤U EBSG OJDIU BVG +BDIUFO PEFS JO

8PIOXBHFOFJOHFCBVUXFSEFO%JF(BSBOUJFHJMUOVSEBOOXFOO

EBT(FS¤UBVTTDIMJFMJDIG¼STFJOFOWPSHFTFIFOFO;XFDLHFOVU[U

XJSE

CFSQS¼GFO4JFWPSEFN&JOCBVEBTTEJF¶SUMJDIFO7PSBVTTFU[VO

HFO(BTBSUVOEESVDLVOEEJF(FS¤UFFJOTUFMMVOHFONJUFJOBOEFS

LPNQBUJCFMTJOETJFIF5BCFMMF *%JF#FEJOHVOHFOG¼SEJF

(FS¤UFFJOTUFMMVOHGJOEFO4JFBVGEFN&UJLFUUPEFS5ZQFOTDIJME

%JFTFT(FS¤UEBSGOVSBOFJOFNBVTSFJDIFOECFM¼GUFUFO0SUVOE

OVSJOCFSFJOTUJNNVOHNJUEFOG¼SEJF#FM¼GUVOHHFMUFOEFO

#FTUJNNVOHFOVOE3JDIUMJOJFOFJOHFCBVUXFSEFO%BT(FS¤UEBSG

OJDIU BO FJOFO 4DIPSOTUFJO PEFS FJOF "CHBTBOMBHF BOHFTDIMPTTFO

XFSEFO

%BT /FU[LBCFM NVTT BN &JOCBVN¶CFM HVU CFGFTUJHU XFSEFO EBNJU

FTOJDIUNJUIFJFO5FJMFOEFT#BDLPGFOTPEFSEFT,PDIGFMEFTJO

#FS¼ISVOHLPNNFOLBOO

&MFLUSJTDIF(FS¤UFN¼TTFOJNNFSHFFSEFUXFSEFO

/FINFO4JFLFJOF"SCFJUFOJN(FS¤UFJOOFSFOWPS3VGFO4JF

HFHFCFOFOGBMMTVOTFSFO,VOEFOEJFOTUBO

9RUGHP(LQEDX

%JFTFT(FS¤UFOUTQSJDIU,MBTTFHFN¤%*/&/G¼S

(BTHFS¤UF&JOCBVHFS¤UF

%JF OFCFO EFN (FS¤U CFGJOEMJDIFO .¶CFM N¼TTFO BVT OJDIU CSFOO

CBSFO .BUFSJBMJFO TFJO %JF 4DIJDIUXFSLTUPGGF EFS .¶CFM TPXJF EFS

TJF[VTBNNFOIBMUFOEF-FJNN¼TTFOIJU[FCFTU¤OEJHTFJO

%JFTFT(FS¤UEBSGOJDIU¼CFS,¼IMTDIS¤OLFO8BTDINBTDIJOFO

4Q¼MNBTDIJOFOPEFS¤IOMJDIFO(FS¤UFOFJOHFCBVUXFSEFO

8FOO4JFEBT,PDIGFME¼CFSFJOFN#BDLPGFOJOTUBMMJFSFONVTT

EJFTFS¼CFSFJOF;XBOHTCFM¼GUVOHWFSG¼HFOCFSQS¼GFO4JFEJF

"CNFTTVOHFOEFT#BDLPGFOTJO*ISFN*OTUBMMBUJPOTIBOECVDI

8FOO FJOF %VOTUBC[VHTIBVCF BOHFCSBDIU XJSE NVTT EJFT HFN¤

EFS.POUBHFBOMFJUVOHVOEJNNFSVOUFS#FS¼DLTJDIUJHVOHFJOFT

WFSUJLBMFO.JOEFTUBCTUBOEFTWPO NN[VN,PDIGFMEHFTDIF

IFO

9RUEHUHLWXQJGHV.FKHQP|EHOV$EE 

/FINFO4JFJOEFS"SCFJUTGM¤DIFFJOFO"VTTDIOJUUNJUEFO

CFO¶UJHUFO"CNFTTVOHFOWPS

8FOO FT TJDI CFJ EFN ,PDIGFME VN FJO FMFLUSJTDIFT PEFS HFNJTDI

UFT,PDIGFME(BTVOEFMFLUSJTDIIBOEFMUVOETJDILFJO0GFOEBS

VOUFSCFGJOEFUCSJOHFO4JFFJOFO;XJTDIFOCPEFOBVTOJDIU

CSFOOCBSFN.BUFSJBM[#.FUBMMPEFS4QFSSIPM[ NNVOUFS

EFN#PEFOEFT,PDIGFMEFTBO4PXJSEFJO;VHBOH[VNVOUFSFO

5FJM EFT ,PDIGFMEFT WFSIJOEFSU8FOO FT TJDI CFJ EFN ,PDIGFME VN

FJO(BTLPDIGFMEIBOEFMUXJSEFNQGPIMFOEFO;XJTDIFOCPEFOJN

TFMCFO"CTUBOE[VN,PDIGFMEBO[VCSJOHFO

#FJ"SCFJUTGM¤DIFOBVT)PM[GJSOJTTFO4JFEJF4DIOJUUGM¤DIFONJU

4QF[JBMMFJNVNTJFWPS'FVDIUJHLFJU[VTDI¼U[FO

(LQEDXGHV*HUlWV

+LQZHLV ;VN&JOCBVFOEFT,PDIGFMEFT4DIVU[IBOETDIVIFWFS

XFOEFO

+FOBDI.PEFMMLBOOEJF,MFCFEJDIUVOHCFSFJUTJN8FSLBOHF

CSBDIU XPSEFO TFJO %JF ,MFCFEJDIUVOH EBOO LFJOFTGBMMT FOUGFSOFO

TJFWFSIJOEFSU%VSDITJDLFSO8FOOEJF%JDIUVOHOJDIUXFSLTFJUJH

BOHFCSBDIUXVSEFLMFCFO4JFTJFBOEFOVOUFSFO3BOEEFT,PDI

GFMET"CC 

;VS#FGFTUJHVOHEFT(FS¤UTBN&JOCBVN¶CFM

 &OUOFINFO4JFEJF,MBNNFSOEFN;VCFI¶SCFVUFMVOETDISBV

CFO 4JF TJF JO EFS BOHFHFCFOFO 1PTUJUJPO BO TP EBTT TJF TJDI GSFJ

ESFIFO

 '¼HFO4JFEBT,PDIGFMENJUUJHFJO

%S¼DLFO4JFEJF3¤OEFSTPMBOHFOBDIVOUFOCJTEFSHFTBNUF

3BOEBVGMJFHU

 %SFIFO4JFEJF,MBNNFSOVOE[JFIFO4JFEJFTFGFTUBO

%JF1PTJUJPOEFS,MBNNFSOI¤OHUWPOEFS%JDLFEFS

"SCFJUTPCFSGM¤DIFBC"CC B

$XVEDXGHV.RFKIHOGHV

5SFOOFO4JFEBT(FS¤UWPOEFS4USPNVOE(BTWFSTPSHVOH

4DISBVCFO 4JF EJF ,MBNNFSO BVG VOE GPMHFO 4JF EFO &JOCBVTDISJU

UFOJOVNHFLFISUFS3FJIFOGPMHF

*DVDQVFKOXVV$EE 

%FS(BTBOTDIMVTTNVTTTPBOHFPSEOFUTFJOEBTTEFS"CTQFSS

IBIO[VH¤OHMJDIJTU

"N&OEFEFT&JOHBOHTSPIST[VN(BTLPDIGFMECFGJOEFUTJDIFJO

ࣔ NN(FXJOEF%JFTFT(FXJOEFFSN¶HMJDIU

■ FJOFO'FTUBOTDIMVTT

■ FJOFO"OTDIMVTTNJUFJOFN.FUBMMTDIMBVDI- NJO N

NBY  N

%JFNJUHFMJFGFSUF%JDIUVOHNVTT[XJTDIFOEFN"VTMBTT

EFS4BNNFMMFJUVOHVOEEFN(BTBOTDIMVTTBOHFCSBDIUXFSEFO

%FS 4DIMBVDI TPMMUF OJDIU JO ,POUBLU [V EFO CFXFHMJDIFO 5FJMFO EFS

&JOCBVFJOIFJUHFMBOHFO[#FJOFS4DIVCMBEFPEFSEVSDI

GGOVOHFOWFSMFHUXFSEFOEJFWFSTDIMPTTFOXFSEFOL¶OOUFO

#FJN"OTDIMVTTFHBMXFMDIFS"SUGDUIGHU.UPPHUQLFKW

EHZHJWRGHUYHUGUHKW VOETPBVTTFJOFSXFSLTFJUJHFO1PTJUJPO

HFCSBDIUXFSEFO

8FOO FJO [ZMJOESJTDIFS "OTDIMVTT IFSHFTUFMMU XFSEFO TPMM FSTFU[FO

4JFEFOXFSLTFJUJHJOTUBMMJFSUFO,S¼NNFSNJUEFN,S¼NNFSBVT

EFN;VCFI¶SCFVUFM"CC B

7FSHFTTFO4JFOJDIUEB[XJTDIFOEJF%JDIUVOHBO[VCSJOHFO

: *DVDXVWULWWVJHIDKU

/BDI"SCFJUFOBOFJOFS"OTDIMVTTTUFMMFEJFTFJNNFSBVG%JDIUIFJU

QS¼GFO

%FS)FSTUFMMFS¼CFSOJNNUG¼SEFO(BTBVTUSJUUBOFJOFS"OTDIMVTT

TUFMMFBOEFS[VWPSIBOUJFSUXVSEFLFJOF7FSBOUXPSUVOH







(OHNWULVFKHU$QVFKOXVV$EE 

1S¼GFO4JFPC4QBOOVOHVOE/FOOMFJTUVOHEFT(FS¤UTNJUEFS

FMFLUSJTDIFO*OTUBMMBUJPO¼CFSFJOTUJNNFO

%JF,PDIGFMEFSXFSEFONJU/FU[LBCFMNJUPEFSPIOF4UFDLFSHFMJF

GFSU

.JU4UFDLFSBVTHFTUBUUFUF(FS¤UFE¼SGFOOVSJOWPSTDISJGUTN¤JH

BOHFCSBDIUFHFFSEFUF4UFDLEPTFOHFTUFDLUXFSEFO

&TNVTTFJOBMMQPMJHFS5SFOOTDIBMUFSNJUNJOEFTUFOT NN,PO

UBLUBCTUBOEBOHFCSBDIUXFSEFOBVFSCFJ"OTDIMVTTBOFJOFGSFJ

[VH¤OHMJDIF4UFDLEPTF

%BT (FS¤U HFI¶SU [VN 5ZQ : %BT ;VMFJUVOHTLBCFM EBSG OJDIU WPN

#FOVU[FSTPOEFSOOVSWPN,VOEFOEJFOTUBVTHFUBVTDIUXFSEFO

4PXPIM,BCFMUZQBMTBVDINJOJNBMFS2VFSTDIOJUUN¼TTFO

CFS¼DLTJDIUJHUXFSEFO

8PVWHOOXQJDXIHLQHDQGHUH*DVDUW

8FOOEJFFJOTDIM¤HJHFO#FTUJNNVOHFOEFTKFXFJMJHFO-BOEFT

EJFTFSMBVCFOLBOOEJFTFT(FS¤UBVGBOEFSF(BTBSUFOVNHFTUFMMU

XFSEFOTJFIF5ZQFOTDIJME%JFIJFSG¼SOPUXFOEJHFO5FJMFCFGJO

EFO TJDI JN NJUHFMJFGFSUFO 6NCBVLJU KF OBDI .PEFMM PEFS L¶OOFO

¼CFSEFO,VOEFOEJFOTUCF[PHFOXFSEFO&TN¼TTFOGPMHFOEF

4DISJUUFCFGPMHUXFSEFO

$$XVWDXVFKGHU'VHQ$EE 

 /FINFO4JFEJF3PTUF#SFOOFSEFDLFMVOE7FSUFJMFSBC

 5BVTDIFO 4JF EJF 7FSUFJMFS NJU EFN ¼CFS VOTFSFO ,VOEFOEJFOTU

FSI¤MUMJDIFO4DIM¼TTFMNJUEFS"SUJLFMOVNNFSBVTG¼S

%PQQFMCSFOOFS "SUJLFMOVNNFS  TJFIF 5BCFMMF ** "DIUFO

4JFEBCFJCFTPOEFSTEBSBVGEBTTEFS7FSUFJMFSCFJN)FSBVTESF

IFOPEFS#FGFTUJHFOBN#SFOOFSOJDIUBCCSJDIU

4UFMMFO 4JF TJDIFS TJF CJT [VN "OTDIMBH FJOHFESFIU [V IBCFO VN

FJOFHVUF"CEJDIUVOH[VFSSFJDIFO

#FJEJFTFO#SFOOFSONVTTLFJOF&JOTUFMMVOHEFS1SJN¤SMVGUWPS

HFOPNNFOXFSEFO

 #SJOHFO4JFEJF7FSUFJMFSVOE#SFOOFSEFDLFMBVGEFOFOUTQSF

DIFOEFO ,PDITUFMMFO BO "VFSEFN N¼TTFO EJF 3PTUF LPSSFLU JO

EFOFOUTQSFDIFOEFO)BMUFFMFNFOUFOFJOHFTFU[UXFSEFO

"CC B

%(LQVWHOOXQJGHU*DVKlKQH

 %SFIFO4JFEJF#FEJFOLOFCFMBVGEJFOJFESJHTUF4UVGF

 ;JFIFO4JFEJF#FEJFOLOFCFMEFS(BTI¤IOFBC"CC 

&T XJSE FJOF ,OFCFMEJDIUVOH BVT GMFYJCMFN (VNNJ TJDIUCBS &T JTU

BVTSFJDIFOEEJFTFNJUEFS4DISBVCFO[JFIFSTQJU[FCFJTFJUF[V

ES¼DLFO VN BO EJF &JOTUFMMTDISBVCF EFT (BTIBIOT [V HFMBOHFO

%DXHQ6LHGLH.QHEHOGLFKWXQJHQQLHPDOVDXV

 4UFMMFO4JFEJFNJOJNBMF(BT[VGVISFJOJOEFN4JFEJF#ZQBTT

4DISBVCFNJUFJOFN4DIMJU[TDISBVCFO[JFIFSESFIFO

+F OBDI (BTBSU BVG EJF 4JF VNTUFMMFO TJFIF 5BCFMMF *** N¼TTFO

FOUTQSFDIFOEF4DISJUUFEVSDIHFG¼ISUXFSEFO

"EJF#ZQBTT4DISBVCFOHBO[BO[JFIFO

#EJF#ZQBTT4DISBVCFOCJT[VNLPSSFLUFO(BTBVTUSJUUBOEFO

#SFOOFSOMPDLFSOTUFMMFO4JFTJDIFSEBTTEFS#SFOOFSCFJFJOFS

6NTUFMMVOHEFT#FEJFOLOFCFMTWPOEFSI¶DITUFOBVGEJFOJFE

SJHTUF4UVGFOJDIUBVTHFIUVOEOJDIU[VS¼DLTDIM¤HU

$ EJF #ZQBTT4DISBVCFO N¼TTFO WPO FJOFN BVUPSJTJFSUFO 'BDI

NBOOBVTHFUBVTDIUXFSEFO

% OFINFO 4JF LFJOF 7FS¤OEFSVOHFO BO EFO #ZQBTT4DISBVCFO

WPS

8FOO4JFOJDIUBOEJF#ZQBTT4DISBVCFHFMBOHFOTPMMUFOCBVFO

4JFEJF'FUUBVGGBOHTDIBMFEJFNJUEFNSFTUMJDIFO,PDIGFMEWFS

TDISBVCUJTUBVT;VN"COFINFOHFIFO4JFXJFGPMHUWPS

 /FINFO 4JF BMMF 3PTUF #SFOOFSEFDLFM 7FSUFJMFS VOE #FEJFOLOF

CFMBC

 -PDLFSO4JFEJF#SFOOFS4DISBVCFO

 '¼S EFO 8JFEFSFJOCBV EFT (FS¤UT GPMHFO 4JF EFO "VTCBVBOXFJ

TVOHFOJOVNHFLFISUFS3FJIFOGPMHF

6NEJF%JDIUIFJU[VHFX¤ISMFJTUFON¼TTFO DOOH,OFCFMEJDIUVO

HFO FJOHFTFU[U XFSEFO %JF %JDIUVOHFO TJOE G¼S EFO GFIMFSGSFJFO

#FUSJFCEFT(FS¤UTVOFSM¤TTMJDIEBTJFEBT&JOESJOHFOWPO

'M¼TTJHLFJUFOVOE4DINVU[JOT(FS¤UFJOOFSFWFSIJOEFSO

#BVFO4JFOJFNBMTEJF"DITFEFT(BTIBIOTBVT"CC #FJ

FJOFS4U¶SVOHEFOLPNQMFUUFO(BTIBIOFSTFU[FO

$FKWXQJ

#SJOHFO4JFEFO"VGLMFCFSNJUEFSVNHFTUFMMUFO(BTBSUJOEFS

/¤IFEFT5ZQFOTDIJMEFTBO

*OTUBMMBUJPOJOTUSVDUJPOT

6DIHW\SUHFDXWLRQV

3FBEUIFBQQMJBODFJOTUSVDUJPOTCFGPSFJOTUBMMJOHBOEVTJOH

5IFHSBQIJDTJOUIFTF"TTFNCMZJOTUSVDUJPOTBSFHJWFOBTBHVJEF

POMZ

7KHPDQXIDFWXUHULVH[HPSWIURPDOOOLDELOLW\LIWKLVPDQXDOV

UHTXLUHPHQWVDUHQRWFRPSOLHGZLWK

$OORSHUDWLRQVUHODWLQJWRLQVWDOODWLRQUHJXODWLRQDQG

FRQYHUVLRQWRRWKHUJDVW\SHVPXVWEHFDUULHGRXWE\DQ

DXWKRULVHGLQVWDOODWLRQHQJLQHHUUHVSHFWLQJDOODSSOLFDEOH

UHJXODWLRQV VWDQGDUGV DQG WKH VSHFLILFDWLRQV RI WKH ORFDO JDV

DQGHOHFWULFLW\SURYLGHUV

<RXDUHUHFRPPHQGHGWRFRQWDFWWKH7HFKQLFDO$VVLVWDQFH

6HUYLFHWRFRQYHUWWRDQRWKHUJDVW\SH

%HIRUH\RXEHJLQWXUQRIIWKHDSSOLDQFHVHOHFWULFLW\DQGJDV

VXSSO\

5IJTBQQMJBODFIBTCFFOEFTJHOFEGPSIPNFVTFPOMZOPUGPS

DPNNFSDJBM PS QSPGFTTJPOBM VTF 5IJT BQQMJBODF DBOOPU CF JOTUBMMFE

POZBDIUTPSJODBSBWBOT5IFXBSSBOUZXJMMPOMZCFWBMJEJGUIF

BQQMJBODFJTVTFEGPSUIFQVSQPTFGPSXIJDIJUXBTEFTJHOFE

#FGPSFJOTUBMMJOHDIFDLUIBUMPDBMEJTUSJCVUJPODPOEJUJPOTHBTUZQF

BOE QSFTTVSF BOE UIF BQQMJBODFT BEKVTUNFOU BSF DPNQBUJCMF TFF

UBCMF *5IFBQQMJBODFTBEKVTUNFOUDPOEJUJPOTBSFXSJUUFOPOUIF

MBCFMPSUIFTQFDJGJDBUJPOTQMBUF

5IJTBQQMJBODFDBOPOMZCFJOTUBMMFEJOBXFMMWFOUJMBUFEQMBDFJO

BDDPSEBODF XJUI FYJTUJOH SFHVMBUJPOT BOE WFOUJMBUJPO TQFDJGJDBUJPOT

5IFBQQMJBODFNVTUOPUCFDPOOFDUFEUPBDPNCVTUJPOQSPEVDU

SFNPWBMEFWJDF

5IFTVQQMZDBCMFNVTUCFBUUBDIFEUPUIFVOJUUPQSFWFOUJUGSPN

UPVDIJOHIPUQBSUTPGUIFPWFOPSIPC

"QQMJBODFTXJUIFMFDUSJDBMTVQQMZNVTUCFFBSUIFE

%POPUUBNQFSXJUIUIFBQQMJBODFTJOUFSJPS*GOFDFTTBSZDBMMPVS

5FDIOJDBM"TTJTUBODF4FSWJDF

%HIRUHLQVWDOOLQJ

5IJTBQQMJBODFJTDMBTTUZQFBDDPSEJOHUPUIF&/

SFHVMBUJPOGPSHBTBQQMJBODFTCVJMUJOBQQMJBODF

5IFVOJUTOFYUUPUIFBQQMJBODFNVTUCFNBEFPGOPOGMBNNBCMF

NBUFSJBMT 5IF MBNJOBUFE DPWFSJOH BOE HMVF GPS BEIFSJOH JU NVTU CF

IFBUSFTJTUBOU

5IJTBQQMJBODFDBOOPUCFJOTUBMMFEBCPWFGSJEHFTXBTIJOH

NBDIJOFTEJTIXBTIFSTPSTJNJMBS

"OPWFONVTUIBWFGPSDFEWFOUJMBUJPOUPJOTUBMMBIPCBCPWFJU

$IFDLUIFEJNFOTJPOTPGUIFPWFOJOUIFJOTUBMMBUJPONBOVBM

*GBOFYUSBDUPSGBOJTJOTUBMMFEZPVNVTUGPMMPXUIFJOTUBMMBUJPO

NBOVBMTJOTUSVDUJPOTBMXBZTLFFQJOHBNJOJNVNEJTUBODFPG

 NNUPUIFIPC

3UHSDUDWLRQRIWKHNLWFKHQXQLWILJ 

.BLFBOBQQSPQSJBUFTJ[FDVUJOUIFXPSLTVSGBDF

*GUIFIPCJTFMFDUSJDPSNJYFEHBTBOEFMFDUSJDJUZBOEUIFSFJTOP

PWFOCFMPXQMBDFBOPOGMBNNBCMFTFQBSBUPSFHNFUBMPS

QMZXPPE NNGSPNUIFCPUUPNPGUIFIPC5IJTXJMMQSFWFOU

BDDFTTUPUIFCBTFPGUIFIPC*GUIFIPCJTHBTJUJT

SFDPNNFOEBCMFUPQMBDFUIFTFQBSBUPSBUUIFTBNFEJTUBODF

0O XPPE XPSL TVSGBDFT WBSOJTI UIF DVUUJOH TVSGBDFT XJUI B TQFDJBM

HMVF5IJTQSPUFDUTUIFNGSPNNPJTUVSFXIJDIDPVMEDPMMFDUVOEFS

UIFXPSLTVSGBDF

,QVWDOODWLRQRIDSSOLDQFH

1RWH 8FBSQSPUFDUJWFHMPWFTUPGJUUIFIPC

%FQFOEJOHPOUIFNPEFMUIFBEIFTJWFTFBMNBZCFGBDUPSZGJUUFE

*GUIJTJTUIFDBTFJUTIPVMEOPUCFSFNPWFEVOEFSBOZ

DJSDVNTUBODFTTJODFUIFBEIFTJWFTFBMQSFWFOUTMFBLT*GUIFTFBM

IBTOPUCFFOGBDUPSZGJUUFEBQQMZJUUPUIFVOEFSTJEFPGUIFIPC

'JH 

'JUUJOHUIFBQQMJBODFPOUPUIFLJUDIFOVOJU

 3FNPWFUIFDMJQTGSPNUIFBDDFTTPSZCBHBOETDSFXUIFNJOUP

UIFQPTJUJPOJOEJDBUFETPUIBUUIFZDBOUVSOGSFFMZ

 *OTFSUBOEDFOUSFUIFIPC

1SFTTUIFTJEFTPGUIFIPCVOUJMJUJTTVQQPSUFEBSPVOEJUTFOUJSF

QFSJNFUFS

 5VSOUIFDMJQTBOEUJHIUFOUIFNGVMMZ

5IF QPTJUJPO PG UIF DMJQT EFQFOET PO IPX UIJDL UIF XPSL TVSGBDF

JT'JH B



5HPRYDORIKRE

5VSOPGGUIFBQQMJBODFTFMFDUSJDJUZBOEHBTTVQQMZ

6OTDSFXUIFDMJQTBOEQSPDFFEJOUIFSFWFSTFPSEFSUPJOTUBMMBUJPO

*DVFRQQHFWLRQILJ 

5IFHBTDPOOFDUJPONVTUCFMPDBUFEJOBQPTJUJPOXIFSFUIFTUPQ

UBQJTBDDFTTJCMF

5IFFOEPGUIFJOMFUDPOOFDUJPOQPJOUPGUIFHBTIPCIBTBࣔ

 NNUISFBEUIBUBMMPXTGPS

■ GJYFEDPOOFDUJPO

■ DPOOFDUJPOVTJOHBGMFYJCMFNFUBMQJQF- NJO NNBY  N

5IFXBUFSUJHIUTFBMTVQQMJFENVTUCFJOTFSUFECFUXFFO

UIFNBOJGPMEPVUMFUBOEUIFHBTTVQQMZ

:PVNVTUQSFWFOUUIFQJQFGSPNDPNJOHJOUPDPOUBDUXJUINPWJOH

QBSUTPGUIFLJUDIFOVOJUGPSFYBNQMFBESBXFSBOEQSFWFOU

BDDFTTUPBOZTQBDFTXIJDINJHIUCFDPNFPCTUSVDUFE

'RQRWPRYHWKH/WXEHGSPNUIFGBDUPSZGJUUFEQPTJUJPO

SFHBSEMFTTPGUIFDPOOFDUJPOUZQF

*GZPVOFFEUPNBLFBDZMJOESJDBMDPOOFDUJPOSFQMBDFUIFGBDUPSZ

GJUUFE-UVCFXJUIUIFPOFJOUIFBDDFTTPSZCBH'JH B

1MFBTFSFNFNCFSUPJOTFSUUIFTFBM

: 'DQJHURIOHDNV

*GBOZDPOOFDUJPOJTIBOEMFEDIFDLUIFTFBM

5IFNBOVGBDUVSFSJTOPUMJBCMFGPSBOZDPOOFDUJPOMFBLJOHBGUFS

CFJOHIBOEMFE

(OHFWULFFRQQHFWLRQILJ 

$IFDL UIBU UIF WPMUBHF BOE QPXFS PG UIF BQQMJBODF BSF DPNQBUJCMF

XJUIUIFFMFDUSJDBMJOTUBMMBUJPO

5IFIPCTBSFTVQQMJFEXJUIBQPXFSDBCMFXJUIPSXJUIPVUBXBMM

TPDLFUQMVH

"QQMJBODFTXJUIQMVHTNVTUPOMZCFDPOOFDUFEUPTPDLFUTUIBU

IBWFFBSUIXJSFTDPSSFDUMZJOTUBMMFE

1SPWJEFBOPNOJQPMBSDVUPGGTXJUDIXJUIBNJOJNVNDPOUBDU

PQFOJOHPG NNFYDFQUGPSQMVHDPOOFDUJPOTJGUIFVTFSIBT

BDDFTTUPJU

5IJTBQQMJBODFJTUZQF࣓:ࣔUIFTVQQMZDBCMFDBOPOMZCFDIBOHFE

CZUIF5FDIOJDBM"TTJTUBODF4FSWJDFBOEOPUUIFVTFS5IFDBCMF

UZQFBOENJOJNVNDSPTTTFDUJPONVTUCFSFTQFDUFE

&KDQJLQJWKHJDVW\SH

*G UIF DPVOUSZT SFHVMBUJPOT BMMPX UIJT BQQMJBODF DBO CF BEBQUFE UP

PUIFSUZQFTPGHBTTFFTQFDJGJDBUJPOTQMBUF5IFDPNQPOFOUT

SFRVJSFEGPSUIJTBSFJOUIFUSBOTGPSNBUJPOLJUTVQQMJFEEFQFOEJOH

POUIFNPEFMPSBSFBWBJMBCMFGSPNPVS5FDIOJDBM"TTJTUBODF

4FSWJDF5IFGPMMPXJOHTUFQTTIPVMECFUBLFO

$&KDQJLQJWKHQR]]OHVILJ 

 3FNPWFUIFQBOTVQQPSUTCVSOFSDBQTBOEEJGGVTFST

 $IBOHFUIFOP[[MFTVTJOHUIFTQBOOFSQSPWJEFECZPVS

5FDIOJDBM"TTJTUBODF4FSWJDFDPEFPSGPS

EPVCMFGMBNF CVSOFST TFF UBCMF ** UBLJOH TQFDJBM DBSF UP FOTVSF

UIBUUIFOP[[MFEPFTOPUGBMMXIFOJUJTSFNPWFEGSPNPSGJUUFEUP

UIFCVSOFS

&OTVSFUIBUJUJTDPNQMFUFMZUJHIUFOFEJOPSEFSUPHVBSBOUFFUIF

TFBM

1SJNBSZBJSBEKVTUNFOUJTOPUOFDFTTBSZXJUIUIFTFCVSOFST

 1PTJUJPOUIFEJGGVTFSTBOECVSOFSDBQTPOUIFDPSSFTQPOEJOH

SJOHT 5IF QBO TVQQPSUT NVTU BMTP CF DPSSFDUMZ QPTJUJPOFE JO UIFJS

GBTUFOFSTBTTIPXOJO'JH B

%$GMXVWLQJWKHWDSV

 4FUUIFDPOUSPMLOPCTUPNJOJNVN

 3FNPWFUIFDPOUSPMLOPCTGSPNUIFUBQT'JH 

*U IBT B GMFYJCMF SVCCFS WBMWF SFJOGPSDJOH SJOH 4JNQMZ QSFTT PO UIJT

TFBMXJUIUIFUJQPGBTDSFXESJWFSUPBMMPXBDDFTTUPUIFUBQ

BEKVTUJOHTDSFX 1HYHUUHPRYHWKHYDOYHUHLQIRUFLQJULQJ

 "EKVTUUIFNJOJNVNSJOHTFUUJOHCZUVSOJOHUIFCZQBTTTDSFX

VTJOHBGMBUIFBETDSFXESJWFS

%FQFOEJOHPOUIFHBTUPXIJDIZPVSBQQMJBODFJTHPJOHUPCF

BEBQUFETFFUBCMF***DBSSZPVUUIFDPSSFTQPOEJOHBDUJPO

"GJSNMZUJHIUFOUIFCZQBTTTDSFXT

# MPPTFO UIF CZQBTT TDSFXT VOUJM UIF HBT GMPX GSPN UIF CVSOFST

JTDPSSFDUXIFOBEKVTUJOHUIFDPOUSPMLOPCCFUXFFONBYJNVN

BOENJOJNVNUIFCVSOFSEPFTOPUHPPVUOPSJTUIFSFBGMBNF

CBDLESBVHIUDSFBUFE

$UIFCZQBTTTDSFXTOFFEUPCFDIBOHFECZBOBVUIPSJTFE

FOHJOFFS

%EPOPUUPVDIUIFCZQBTTTDSFXT

*G UIF CZQBTT TDSFX DBOOPU CF BDDFTTFE EJTBTTFNCMF UIF HSFBTF

ESJQUSBZXIJDIJTGJUUFEUPUIFIPCXJUIBTFSJFTPGTDSFXT5IF

GPMMPXJOHTUFQTNVTUCFUBLFOUPSFNPWFJU

 3FNPWFBMMQBOTVQQPSUTCVSOFSDBQTEJGGVTFSTBOEDPOUSPM

LOPCT

 3FNPWFUIFTDSFXTGSPNUIFCVSOFST

 5PSFJOTUBMMUIFBQQMJBODFQSPDFFEJOUIFSFWFSTFPSEFSUP

EJTBTTFNCMZ

$OO WBMWFSFJOGPSDJOHSJOHTNVTUCFJOQPTJUJPOUPFOTVSF

XBUFSUJHIUOFTT5IFTFEFWJDFTBSFFTTFOUJBMGPSUIFDPSSFDU

PQFSBUJPOPGUIFBQQMJBODFBTUIFZQSFWFOUMJRVJETBOEEJSUGSPN

FOUFSJOHUIFBQQMJBODF

/FWFSSFNPWFUIFUBQTQJOEMF'JH *OUIFFWFOUPGB

NBMGVODUJPODIBOHFUIFXIPMFUBQ

&DXWLRQ

"GUFSGJOJTIJOHUIFTUJDLFSJOEJDBUJOHUIFOFXUZQFPGHBTNVTUCF

QMBDFEDMPTFUPUIFTQFDJGJDBUJPOTQMBUF

*OTUSVDDJPOFTEFNPOUBKF

,QGLFDFLRQHVGHVHJXULGDG

-FBMBTJOTUSVDDJPOFTEFMBQBSBUPBOUFTEFQSPDFEFSBTV

JOTUBMBDJ³OZVTP

-PT HS¡GJDPT SFQSFTFOUBEPT FO FTUBT JOTUSVDDJPOFT EF NPOUBKF TPO

PSJFOUBUJWPT

(OIDEULFDQWHTXHGDH[HQWRGHWRGDUHVSRQVDELOLGDGVLQRVH

FXPSOHQODVGLVSRVLFLRQHVGHHVWHPDQXDO

7RGRVORVWUDEDMRVGHLQVWDODFLyQUHJXODFLyQ\DGDSWDFLyQD

RWURVWLSRVGHJDVGHEHQVHUHIHFWXDGRVSRUXQWpFQLFRGH

LQVWDODFLyQDXWRUL]DGRUHVSHWDQGRWRGDODQRUPDWLYD\

OHJLVODFLyQ DSOLFDEOHV \ ODV SUHVFULSFLRQHV GH ODV FRPSDxtDV

ORFDOHVSURYHHGRUDVGHJDV\HOHFWULFLGDG

6HUHFRPLHQGDOODPDUDQXHVWUR6HUYLFLR7pFQLFRSDUDOD

DGDSWDFLyQDRWURVWLSRVGHJDV

$QWHV GH FXDOTXLHU DFWXDFLyQ FRUWH OD DOLPHQWDFLyQ HOpFWULFD \

GHJDVGHODSDUDWR

&TUFBQBSBUPIBTJEPEJTF±BEPTPMPQBSBVTPEPN©TUJDPOP

FTUBOEP QFSNJUJEP TV VTP DPNFSDJBM P QSPGFTJPOBM &TUF BQBSBUP OP

QVFEF TFS JOTUBMBEP FO ZBUFT P DBSBWBOBT -B HBSBOUB ºOJDBNFOUF

UFOES¡WBMJEF[FODBTPEFRVFTFSFTQFUFFMVTPQBSBFMRVFGVF

EJTF±BEP

"OUFTEFMBJOTUBMBDJ³OEFCFDPNQSPCBSRVFMBTDPOEJDJPOFTEF

EJTUSJCVDJ³OMPDBMOBUVSBMF[BZQSFTJ³OEFMHBTZFMSFHMBKFEFM

BQBSBUPTPODPNQBUJCMFTWFSUBCMB *-BTDPOEJDJPOFTEFSFHMBKF

EFMBQBSBUPFTU¡OJOTDSJUBTTPCSFMBFUJRVFUBPMBQMBDBEF

DBSBDUFSTUJDBT

&TUFBQBSBUPTPMPQVFEFTFSJOTUBMBEPFOVOMVHBSCJFOWFOUJMBEP

SFTQFUBOEPMPTSFHMBNFOUPTFOWJHPSZMBTEJTQPTJDJPOFTSFMBUJWBT

BMBWFOUJMBDJ³O/PEFCFDPOFDUBSTFFMBQBSBUPBVOEJTQPTJUJWPEF

FWBDVBDJ³OEFMPTQSPEVDUPTEFDPNCVTUJ³O

&MDBCMFEFBMJNFOUBDJ³OEFCFGJKBSTFBMNVFCMFQBSBFWJUBSRVF

UPRVFQBSUFTDBMJFOUFTEFMIPSOPPQMBDBEFDPDDJ³O

-PT BQBSBUPT DPO BMJNFOUBDJ³O FM©DUSJDB EFCFO DPOFDUBSTF B UJFSSB

PCMJHBUPSJBNFOUF

/PNBOJQVMFFMJOUFSJPSEFMBQBSBUP4JFTQSFDJTPMMBNFBOVFTUSP

4FSWJDJP5©DOJDP

$QWHVGHODLQVWDODFLyQ

&TUF BQBSBUP DPSSFTQPOEF B MB DMBTF  TFHºO MB OPSNB &/ 

QBSBBQBSBUPTBHBTBQBSBUPFODBTUSBEPFOVONVFCMF

-PTNVFCMFTQS³YJNPTBMBQBSBUPEFCFOTFSEFNBUFSJBMFTOP

JOGMBNBCMFT -PT SFWFTUJNJFOUPT FTUSBUJGJDBEPT Z MB DPMB RVF MPT GJKB

EFCFOTFSSFTJTUFOUFTBMDBMPS

&TUFBQBSBUPOPTFQVFEFJOTUBMBSTPCSFOFWFSBTMBWBEPSBT

MBWBWBKJMMBTPTJNJMBSFT

1BSBJOTUBMBSMBQMBDBEFDPDDJ³OTPCSFVOIPSOPFTUFEFCFUFOFS

WFOUJMBDJ³OGPS[BEB$PNQSVFCFMBTEJNFOTJPOFTEFMIPSOPFOTV

NBOVBMEFJOTUBMBDJ³O

4JTFJOTUBMBVOFYUSBDUPSEFCFUFOFSTFFODVFOUBTVNBOVBMEF

JOTUBMBDJ³OSFTQFUBOEPTJFNQSFVOBEJTUBODJBWFSUJDBMNOJNBEF

 NNBMBQMBDBEFDPDDJ³O

3UHSDUDFLyQGHOPXHEOHILJ

)BHBVODPSUFEFMBTEJNFOTJPOFTOFDFTBSJBTFOMBTVQFSGJDJFEF

USBCBKP

4J MB QMBDB EF DPDDJ³O FT FM©DUSJDB P NJYUB HBT Z FMFDUSJDJEBE Z OP

IBZVOIPSOPEFCBKPDPMPRVFVOTFQBSBEPSEFNBUFSJBMOP

JOGMBNBCMFQFKNFUBMPNBEFSBDPOUSBDIBQBEBB NNEFMB

CBTFEFMBQMBDBEFDPDDJ³O"TJNQJEFFMBDDFTPBMBQBSUF



JOGFSJPSEFFTUB4JMBQMBDBEFDPDDJ³OFTEFHBTTFSFDPNJFOEB

DPMPDBSFMTFQBSBEPSBMBNJTNBEJTUBODJB

&OTVQFSGJDJFTEFUSBCBKPEFNBEFSBCBSOJDFMBTTVQFSGJDJFTEF

DPSUFDPOVOBDPMBFTQFDJBMQBSBQSPUFHFSMBTEFMBIVNFEBE

,QVWDODFLyQGHODSDUDWR

1RWD 6TBSHVBOUFTEFQSPUFDDJ³OBMJOTUBMBSMBQMBDB

4FHºO NPEFMP MB KVOUB BEIFTJWB QVFEF TBMJS QVFTUB EF G¡CSJDB 4J

FTBTOPMBRVJUFCBKPOJOHºODPODFQUPMBKVOUBBEIFTJWBFWJUB

GJMUSBDJPOFT4JMBKVOUBOPFTU¡QVFTUBEFG¡CSJDBQ©HVFMBFOFM

CPSEFJOGFSJPSEFMBQMBDBEFDPDDJ³O'JH 

1BSBMBGJKBDJ³OEFMBQBSBUPBMNVFCMFEFFODBTUSBNJFOUP

 4BRVFMBTHSBQBTEFMBCPMTBEFBDDFTPSJPTZBUPSOMMFMBTFOMB

QPTJDJ³OJOEJDBEBEFKBOEPRVFHJSFOMJCSFNFOUF

 &ODBTUSFZDFOUSFMBQMBDBEFDPDDJ³O

1SFTJPOFTPCSFTVTFYUSFNPTIBTUBRVFTFBQPZFFOUPEPTV

QFSNFUSP

 (JSFMBTHSBQBTZBQSJ©UFMBTBGPOEP

-BQPTJDJ³OEFMBTHSBQBTEFQFOEFEFMFTQFTPSEFMBTVQFSGJDJF

EFUSBCBKP'JH B

'HVPRQWDMHGHODSODFDGHFRFFLyQ

%FTDPOFDUFFMBQBSBUPEFMBTUPNBTFM©DUSJDBZEFHBT

%FTBUPSOJMMFMBTHSBQBTZQSPDFEBEFNPEPJOWFSTPBMNPOUBKF

&RQH[LyQGHJDVILJ 

-BUPNBEFHBTEFCFFTUBSDPMPDBEBEFNPEPRVFFMHSJGPEF

DJFSSFRVFEFBDDFTJCMF

&MFYUSFNPEFMBDPOFYJ³OEFFOUSBEBEFMBQMBDBEFDPDDJ³OEF

HBTFTU¡QSPWJTUPEFVOBSPTDBEF࣐࣐ NNRVFQFSNJUF

■ MBDPOFYJ³OSHJEB

■ -BDPOFYJ³ODPOVOUVCPGMFYJCMFNFU¡MJDP- NJO  N

NBY  N

&TOFDFTBSJPJOUFSDBMBSMBKVOUBEFFTUBORVJEBE

TVNJOJTUSBEBFOUSFMBTBMJEBEFMDPMFDUPSZMBBDPNFUJEBEFHBT

)BZRVFFWJUBSFMDPOUBDUPEFMUVCPDPOQBSUFTN³WJMFTEFMB

VOJEBEEFFODBTUSBNJFOUPQPSFKFNQMPVODBK³OZFMQBTPB

USBW©TEFFTQBDJPTRVFQVEJFSBOTFSTVTDFQUJCMFTEFPCTUSVJSTF

&ODVBMRVJFSBEFMBTDPOFYJPOFTQRPXHYDQLJLUHHOFRGREFMB

QPTJDJ³ORVFTBMFEFG¡CSJDB

4JOFDFTJUBSFBMJ[BSVOBDPOFYJ³ODJMOESJDBTVTUJUVZBFMDPEP

JOTUBMBEPEFG¡CSJDBQPSFMEFMBCPMTBEFBDDFTPSJPT 'JH B

/PPMWJEFJOUFSDBMBSMBKVOUB

: £3HOLJURGHIXJD

4JNBOJQVMBDVBMRVJFSDPOFYJ³ODPNQSVFCFMBFTUBORVJEBE

&MGBCSJDBOUFOPTFSFTQPOTBCJMJ[BTJBMHVOBDPOFYJ³OQSFTFOUB

GVHBTUSBTIBCFSTJEPNBOJQVMBEB

&RQH[LyQHOpFWULFDILJ 

$PNQSVFCFRVFFMWPMUBKFZMBQPUFODJBEFMBQBSBUPTPO

DPNQBUJCMFTDPOMBJOTUBMBDJ³OFM©DUSJDB

-BTQMBDBTEFDPDDJ³OTFTVNJOJTUSBODPOVODBCMFEF

BMJNFOUBDJ³ODPOPTJODMBWJKB

-PTBQBSBUPTQSPWJTUPTEFDMBWJKBTPMPTFEFCFODPOFDUBSBDBKBT

EFFODIVGFDPOUPNBEFUJFSSBEFCJEBNFOUFJOTUBMBEB

%FCFQSFWFSTFVOJOUFSSVQUPSEFDPSUFPNOJQPMBSDPOBCFSUVSBEF

DPOUBDUP NO EF  NN FYDFQUP FO DPOFYJPOFT DPO DMBWJKB TJ FTUB

FTBDDFTJCMFQBSBFMVTVBSJP

&TUFBQBSBUPFTEFMUJQP࣓:ࣩFMDBCMFEFFOUSBEBOPQVFEFTFS

DBNCJBEPQPSFMVTVBSJPTJOPQPSFM4FSWJDJP5©DOJDP4FEFCFO

SFTQFUBSFMUJQPEFDBCMFZMBTFDDJ³ONOJNB

&DPELRGHOWLSRGHJDV

4J MB OPSNBUJWB EFM QBT MP QFSNJUF FTUF BQBSBUP TF QVFEF BEBQUBS

B PUSPT HBTFT WFS QMBDB EF DBSBDUFSTUJDBT -BT QJF[BT OFDFTBSJBT

QBSB FMMP FTU¡O FO MB CPMTB EF USBOTGPSNBDJ³O TVNJOJTUSBEB TFHºO

NPEFMPPEJTQPOJCMFFOOVFTUSP4FSWJDJP5©DOJDP-PTQBTPTB

TFHVJSTPOMPTTJHVJFOUFT

$&DPELRGHLQ\HFWRUHVILJ 

 3FUJSFMBTQBSSJMMBTUBQBTEFRVFNBEPSZEJGVTPSFT

 $BNCJFMPTJOZFDUPSFTVTBOEPMBMMBWFEJTQPOJCMFBUSBW©TEF

OVFTUSPTFSWJDJPU©DOJDPDPOD³EJHPQBSBRVFNBEPSFT

EFEPCMFMMBNBD³EJHPWFSUBCMB **UFOJFOEPFTQFDJBM

DVJEBEPFORVFOPTFEFTQSFOEBFMJOZFDUPSBMSFUJSBSMPPGJKBSMP

FOFMRVFNBEPS

"TFHºSFTF EF BQSFUBSMPT B GPOEP QBSB HBSBOUJ[BS MB FTUBORVJEBE

&OFTUPTRVFNBEPSFTOPIBZRVFSFBMJ[BSSFHMBKFEFMBJSF

QSJNBSJP

 $PMPRVFMPTEJGVTPSFTZMBTUBQBTEFMPTRVFNBEPSFTFOTVT

DPSSFTQPOEJFOUFTGVFHPT"EFN¡TEFCFS¡DPMPDBS

BEFDVBEBNFOUFMBTQBSSJMMBTFOTVTFMFNFOUPTEFTVKFDJ³O

'JH B

%5HJODMHGHORVJULIRV

 $PMPRVFMPTNBOEPTFOMBQPTJDJ³OEFNOJNP

 3FUJSFMPTNBOEPTEFMPTHSJGPT'JH 

4F FODPOUSBS¡ DPO VO SFU©O EF HPNB GMFYJCMF #BTUBS¡ DPO RVF TF

QSFTJPOFDPOMBQVOUBEFMEFTUPSOJMMBEPSQBSBRVFTFMJCFSFFM

QBTPIBDJBFMUPSOJMMPEFSFHVMBDJ³OEFMHSJGP -DPiVGHVPRQWH

HOUHWpQ

 3FHVMFFMGVFHPNOJNPHJSBOEPFMUPSOJMMPCZQBTTNFEJBOUFVO

EFTUPSOJMMBEPSEFQVOUBQMBOB

%FQFOEJFOEPEFMHBTBMRVFWBZBBBEBQUBSTVBQBSBUPWFS

UBCMB ***SFBMJDFMBBDDJ³ODPSSFTQPOEJFOUF

"BQSFUBSMPTUPSOJMMPTCZQBTTBGPOEP

#BGMPKBSMPTUPSOJMMPTCZQBTTIBTUBMBDPSSFDUBTBMJEBEFHBTEF

MPTRVFNBEPSFTDPNQSVFCFRVFBMBKVTUBSFMNBOEPFOUSFFM

N¡YJNPZFMNOJNPFMRVFNBEPSOPTFBQBHBOJTFDSFB

SFUSPDFTPEFMMBNB

$MPTUPSOJMMPTCZQBTTEFCFOTFSDBNCJBEPTQPSVOU©DOJDP

BVUPSJ[BEP

%OPNBOJQVMBSMPTUPSOJMMPTCZQBTT

4JOPFODVFOUSBBDDFTPBMUPSOJMMPCZQBTTEFTNPOUFMBHSBTFSB

RVFFTU¡GJKBEBBMSFTUPEFMBQMBDBEFDPDDJ³OQPSVOTJTUFNBEF

UPSOJMMPT1BSBSFUJSBSMBQSPDFEBEFMTJHVJFOUFNPEP

 2VJUFUPEBTMBTQBSSJMMBTUBQBTEFMPTRVFNBEPSFTEJGVTPSFTZ

NBOEPT

 4VFMUFMPTUPSOJMMPTEFMPTRVFNBEPSFT

 1BSBWPMWFSBNPOUBSFMBQBSBUPQSPDFEBEFNPEPJOWFSTPBM

EFTNPOUBKF

&T JNQPSUBOUF RVF FTU©O DPMPDBEPT WRGRV MPT SFUFOFT QBSB QPEFS

BTFHVSBS MB FTUBORVJEBE &TUPT EJTQPTJUJWPT TPO JNQSFTDJOEJCMFT

QBSBFMDPSSFDUPGVODJPOBNJFOUPEFMBQBSBUPZBRVFJNQJEFOMB

FOUSBEBEFMRVJEPTZTVDJFEBEBMJOUFSJPSEFMBQBSBUP

/VODB EFTNPOUF FM FKF EFM HSJGP 'JH  &O DBTP EF BWFSB DBNCJF

FMHSJGPDPNQMFUP

£$WHQFLyQ

"MGJOBMJ[BSDPMPRVFMBFUJRVFUBBEIFTJWBJOEJDBOEPFMOVFWPUJQP

EFHBTDFSDBEFMBQMBDBEFDBSBDUFSTUJDBT

/PUJDFEFNPOUBHF

,QGLFDWLRQVGHVpFXULWp

-JTF[MFTJOTUSVDUJPOTEFMBQQBSFJMBWBOUEFQSPD©EFSTPO

JOTUBMMBUJPOFUTPOVUJMJTBUJPO

-FTHSBQIJRVFTSFQS©TFOU©TEBOTDFUUF/PUJDFEFNPOUBHFTPOU

QVSFNFOUDBSBDU¨SFJOGPSNBUJG

/HIDEULFDQWHVWH[HPSWGHWRXWHUHVSRQVDELOLWpVLOHV

LQGLFDWLRQVGHFHPDQXHOQHVRQWSDVUHVSHFWpHV

7RXVOHVWUDYDX[GLQVWDOODWLRQGHUpJODJHHWGDGDSWDWLRQj

XQDXWUHW\SHGHJD]GRLYHQWrWUHUpDOLVpVSDUXQWHFKQLFLHQ

DJUppTXLGRLWUHVSHFWHUOHVQRUPHVHWODOpJLVODWLRQ

DSSOLFDEOHVDLQVLTXHOHVSUHVFULSWLRQVGHVVRFLpWpVORFDOHV

IRXUQLVVHXVHVGpOHFWULFLWpHWGHJD]

,OHVWUHFRPPDQGpGDSSHOHUOH6HUYLFH7HFKQLTXHSRXU

ODGDSWDWLRQjXQDXWUHW\SHGHJD]

$YDQW WRXWH DFWLRQ FRXSH] ODOLPHQWDWLRQ pOHFWULTXH HW GH JD]

GHODSSDUHLO

$FUBQQBSFJMOB©U©DPO§VRVFQPVSVOVTBHFEPNFTUJRVFTPO

VTBHFDPNNFSDJBMPVQSPGFTTJPOOFMOFTUFOBVDVODBTQFSNJT

$FUBQQBSFJMOFQFVUQBTªUSFJOTUBMM©EBOTEFTZBDIUTPVEFT

DBSBWBOFT -B HBSBOUJF OF TFSB WBMBCMF RVF TJ MVTBHF QPVS MFRVFM JM

B©U©DPO§VB©U©SFTQFDU©

"WBOUMJOTUBMMBUJPOWPVTEFWF[W©SJGJFSRVFMFTDPOEJUJPOTEF

EJTUSJCVUJPOMPDBMFOBUVSFFUQSFTTJPOEVHB[FUMFS©HMBHFEF

MBQQBSFJMTPOUDPNQBUJCMFTDGUBCMFBV *-FTDPOEJUJPOTEF

S©HMBHFEFMBQQBSFJMTPOUJOTDSJUFTTVSM©UJRVFUUFPVMBQMBRVF

TJHOBM©UJRVF

$FU BQQBSFJM OF QFVU ªUSF JOTUBMM© RVF EBOT VO FOESPJU CJFO WFOUJM©

FOSFTQFDUBOUMFTS¨HMFNFOUTFOWJHVFVSFUMFTEJTQPTJUJPOT

SFMBUJWFTMBWFOUJMBUJPO-BQQBSFJMOFEPJUQBTªUSFDPOOFDU©VO

EJTQPTJUJGE©WBDVBUJPOEFTQSPEVJUTEFDPNCVTUJPO

-FD¢CMFEBMJNFOUBUJPOEPJUªUSFGJY©BVNFVCMFQPVSRVJMOF

UPVDIFQBTEFTQBSUJFTDIBVEFTEVGPVSPVEFMBQMBRVFEF

DVJTTPO

-FTBQQBSFJMTBMJNFOU©T©MFDUSJRVFNFOUEPJWFOUªUSF

PCMJHBUPJSFNFOUDPOOFDU©TMBUFSSF

/F NBOJQVMF[ QBT MJOU©SJFVS EF MBQQBSFJM -F DBT ©DI©BOU BQQFMF[

OPUSF4FSWJDF5FDIOJRVF



$YDQWOLQVWDOODWLRQ

$FUBQQBSFJMDPSSFTQPOEMBDMBTTFTFMPOMBOPSNF&/

QPVSMFTBQQBSFJMTHB[BQQBSFJMFODBTUS©EBOTVONFVCMF

-FT NFVCMFT TJUV©T  QSPYJNJU© EF MBQQBSFJM EPJWFOU ªUSF GBCSJRV©T

EBOTEFTNBU©SJBVYOPOJOGMBNNBCMFT-FTSFWªUFNFOUTTUSBUJGJ©T

FUMBDPMMFRVJMFTGJYFEPJWFOUªUSFS©TJTUBOUTMBDIBMFVS

$FUBQQBSFJMOFQFVUQBTªUSFJOTUBMM©TVSEFTS©GSJH©SBUFVSTEFT

NBDIJOFTMBWFSMFMJOHFEFTMBWFWBJTTFMMFPVEBVUSFTBQQBSFJMT

TFNCMBCMFT

1PVSJOTUBMMFSMBQMBRVFEFDVJTTPOTVSVOGPVSDFMVJDJEPJU

EJTQPTFSEVOFWFOUJMBUJPOGPSD©F7©SJGJF[MFTEJNFOTJPOTEVGPVS

EBOTMFNBOVFMEJOTUBMMBUJPO

4JVOFIPUUFBTQJSBOUFFTUJOTUBMM©FJMGBVUSFTQFDUFSMFT

PCTFSWBUJPOTEFTPONBOVFMEJOTUBMMBUJPOFUSFTQFDUFSUPVKPVST

VOFEJTUBODFWFSUJDBMFNJOJNVNEF NNQBSSBQQPSUMB

QMBRVFEFDVJTTPO

3UpSDUDWLRQGXPHXEOHILJ

&GGFDUVF[VOFE©DPVQFTVSMBTVSGBDFEFUSBWBJMTFMPOMFT

EJNFOTJPOTO©DFTTBJSFT

4JMBQMBRVFEFDVJTTPOFTU©MFDUSJRVFPVNJYUFHB[FU©MFDUSJDJU©

FU TJM OZ B QBT EF GPVS EFTTPVT QMBDF[ VO T©QBSBUFVS EF NBU©SJBV

OPO JOGMBNNBCMF Q FY N©UBM PV CPJT DPOUSFQMBRV©   NN EF MB

CBTF EF MB QMBRVF EF DVJTTPO "JOTJ FTU FNQªDI© MBDD¨T  MB QBSUJF

JOG©SJFVSFEFDFMMFDJ4JMBQMBRVFEFDVJTTPOFTUHB[JMFTU

SFDPNNBOE©EFQMBDFSMFT©QBSBUFVSMBNªNFEJTUBODF

1PVSEFTTVSGBDFTEFUSBWBJMFOCPJTWFSOJTTF[MFTTVSGBDFTEF

E©DPVQFBWFDVOFDPMMFTQ©DJBMFQPVSMFTQSPU©HFSEFMIVNJEJU©

,QVWDOODWLRQGHODSSDUHLO

5HPDUTXH 1PVSMFODBTUSFNFOUEFMBQQBSFJMVUJMJTFSEFTHBOUT

EFQSPUFDUJPO

4FMPO MF NPE¨MF MF KPJOU BEI©TJG QFVU ªUSF QMBD© EVTJOF 4J DFTU MF

DBTOFMFSFUJSF[TPVTBVDVOQS©UFYUFMFKPJOUBEI©TJG©WJUFMFT

GJMUSBUJPOT4JMFKPJOUOFTUQBTQMBD©EVTJOFDPMMF[MFTVSMFCPSE

JOG©SJFVSEFMBQMBRVFEFDVJTTPO'JH 

1PVSMBGJYBUJPOEFMBQQBSFJMBVNFVCMFEFODBTUSFNFOU

 4PSUF[MFTBHSBGFTEFMBQPDIFEFTBDDFTTPJSFTFUWJTTF[MFT

EBOTMBQPTJUJPOJOEJRV©FFOMFTMBJTTBOUUPVSOFSMJCSFNFOU

 &ODBTUSF[FUDFOUSF[MBQMBRVFEFDVJTTPO

"QQVZF[TVSTFTFYUS©NJU©TKVTRVDFRVFMMFTBQQVJFTVSUPVU

TPOQ©SJN¨USF

 5PVSOF[MFTBHSBGFTFUTFSSF[MFTGPOE

-BQPTJUJPOEFTBHSBGFTE©QFOEEFM©QBJTTFVSEFMBTVSGBDFEF

USBWBJM'JH B

'pPRQWDJHGHODSODTXHGHFXLVVRQ

%©CSBODIF[MBQQBSFJMEFTQSJTFTEFDPVSBOU©MFDUSJRVFFUEVHB[

%©WJTTF[MFTBHSBGFTFUTVJWF[MBQSPD©EVSFJOWFSTFBVNPOUBHF

%UDQFKHPHQWGHJD]ILJ 

-FSBDDPSEEFHB[EPJUªUSFEJTQPT©EFUFMMFTPSUFRVFMFSPCJOFU

EBSSªUTPJUBDDFTTJCMF

-FYUS©NJU©EVCSBODIFNFOUEFOUS©FEFMBQMBRVFEFDVJTTPO

HB[ FTU NVOJF EVO GJMFU EVO EFNJQPVDF  NN RVJ QFSNFU

■ -BDPOOFYJPOSJHJEF

■ -FCSBODIFNFOUBWFDVOUVZBVGMFYJCMFN©UBMMJRVF- NJO N

NBY  N

*M GBVU JOUFSDBMFS MF KPJOU E©UBODI©JU©  GPVSOJ FOUSF MB TPSUJF

EVDPMMFDUFVSFUMFCSBODIFNFOUEFHB[

*MGBVU©WJUFSRVFDFUVZBVUPVDIFEFTQBSUJFTNPCJMFTEFMVOJU©

EFODBTUSFNFOUQBSFYFNQMFVOUJSPJSFURVJMQBTTFUSBWFSTEFT

FTQBDFTQPVWBOUªUSFPCTUSV©T

1PVSOJNQPSUFRVFMCSBODIFNFOUQHERXJH]QLWRXUQH]OH

FRXGHEFMBQPTJUJPOS©BMJT©FEVTJOF

4JWPVTEFWF[DS©FSVOSBDDPSEDZMJOESJRVFSFNQMBDF[MFDPVEF

JOTUBMM©FOVTJOFQBSDFMVJEFMBQPDIFEFTBDDFTTPJSFT'JH B

/PVCMJF[QBTEJOUFSDBMFSMFKPJOU

: 5LVTXHGHIXLWHV 

4JWPVTNBOJQVMF[VOCSBODIFNFOUW©SJGJF[TPO©UBODI©JU©

-FGBCSJDBOUOFQPVSSBªUSFUFOVSFTQPOTBCMFTJVOCSBODIFNFOU

RVFMDPORVFQS©TFOUFEFTGVJUFTBQS¨TBWPJS©U©NBOJQVM©

%UDQFKHPHQWpOHFWULTXHILJ 

7©SJGJF[RVFMBUFOTJPOFUMBQVJTTBODFEFMBQQBSFJMTPOU

DPNQBUJCMFTBWFDMJOTUBMMBUJPO©MFDUSJRVF

-FT QMBRVFT EF DVJTTPO TPOU GPVSOJFT BWFD VO D¢CMF EBMJNFOUBUJPO

BWFDPVTBOTCSPDIFEFGJDIFN¢MF

-FTBQQBSFJMTNVOJTEVOFCSPDIFOFQFVWFOUªUSFSBDDPSE©TRV

EFTCP®UJFSTEFGJDIFN¢MFBWFDVOFQSJTFEFUFSSFE»NFOU

JOTUBMM©F

*MGBVUJOTUBMMFSVOJOUFSSVQUFVSEFDPVQVSFPNOJQPMBJSFBWFD

PVWFSUVSFEFDPOUBDUEBVNPJOT NNTBVGQPVSEFT

CSBODIFNFOUTGJDIFN¢MFTJDFUUFEFSOJ¨SFFTUBDDFTTJCMFQBS

MVUJMJTBUFVS

$FUBQQBSFJMFTUEVUZQF࣓:ࣔMFD¢CMFEFOUS©FOFQFVUQBTªUSF

SFNQMBD©QBSMVUJMJTBUFVSNBJTQBSMF4FSWJDF5FDIOJRVF-FUZQF

EFD¢CMFFUMBTFDUJPONJOJNVNEPJWFOUªUSFSFTQFDU©T

&KDQJHPHQWGXW\SHGHJD]

4JMBS©HMFNFOUBUJPOEVQBZTMFQFSNFUDFUBQQBSFJMQFVUªUSF

BEBQU©EBVUSFTHB[WPJSQMBRVFTJHOBM©UJRVF-FTQJ¨DFT

O©DFTTBJSFTQPVSDFMBTFUSPVWFOUEBOTMBQPDIFUUFEF

USBOTGPSNBUJPOGPVSOJFTFMPOMFNPE¨MFPVEJTQPOJCMFBVQS¨TEF

OPUSF4FSWJDF5FDIOJRVF-FTQBTTVJWSFTPOUMFTTVJWBOUT

$&KDQJHPHQWGHVLQMHFWHXUVILJ 

 3FUJSF[MFTHSJMMFTMFTDPVWFSDMFTEFCS»MFVSFUMFTEJGGVTFVST

 $IBOHF[MFTJOKFDUFVSTFOVUJMJTBOUMBDM©EJTQPOJCMFBVQS¨TEF

OPUSF4FSWJDF5FDIOJRVFS©G QPVSCS»MFVSTEPVCMF

GMBNNFS©G DGUBCMFBV**FOGBJTBOUQBSUJDVMJ¨SFNFOU

BUUFOUJPO  OF QBT E©MPHFS M࣐JOKFDUFVS FO MF SFUJSBOU PV FO MF GJYBOU

BVCS»MFVS

1SFOF[TPJOEFMFTGJYFSGPOEQPVSHBSBOUJSM࣐©UBODI©JU©

*MOFGBVUS©BMJTFSBVDVOS©HMBHFEFMBJSQSJNBJSFEBOTDFT

CS»MFVST

 1MBDF[ MFT EJGGVTFVST FU MFT DPVWFSDMFT EFT CS»MFVST TVS MFVST GFVY

DPSSFTQPOEBOUT &O QMVT JM GBVESB QMBDFS EF NBOJ¨SF BQQSPQSJ©F

MFTHSJMMFTTVSMFVST©M©NFOUTEFGJYBUJPOGJH B

%5pJODJHGHVURELQHWV

 1MBDF[MFTCPVUPOTEFDPNNBOEFTVSMBQPTJUJPONJOJNVN

 3FUJSF[MFTCPVUPOTEFDPNNBOEFEFTSPCJOFUT'JH 

7PVT USPVWFSF[ BMPST VOF CBHVF FO DBPVUDIPVD GMFYJCMF *M TVGGJSB

E࣐BQQVZFSBWFDMBQPJOUFEVUPVSOFWJTQPVSMJC©SFSMFQBTTBHF

WFST MB WJT EF S©HMBHF EV SPCJOFU 1H GpPRQWH] MDPDLV OD EDJXH

 3©HMF[MFGFVNJOJNVNFOUPVSOBOUMBWJTCZQBTTMBJEFEVO

UPVSOFWJTQPJOUFQMBUF

&O GPODUJPO EV UZQF EF HB[ BVRVFM WPVT BEBQUFSF[ WPUSF BQQBSFJM

DGUBCMFBV***S©BMJTF[MBDUJPODPSSFTQPOEBOUF

"TFSSF[MFTWJTCZQBTTGPOE

#  EFTTFSSF[ MFT WJT CZQBTT KVTRV PCUFOJS MB TPSUJF DPSSFDUF EF

HB[EFTCS»MFVSTW©SJGJF[FOS©HMBOUMFCPVUPOEFDPNNBOEF

FOUSF MF NBYJNVN FU MF NJOJNVN RVF MF CS»MFVS OF T©UFJOU QBT FU

RVBVDVOSFUPVSEFGMBNNFOFTUH©O©S©

$MFTWJTCZQBTTEPJWFOUªUSFDIBOH©FTQBSVOUFDIOJDJFO

BHS©©

%OFNBOJQVMF[QBTMFTWJTCZQBTT

4JWPVTOFUSPVWF[QBTMBDD¨TMBWJTCZQBTTE©NPOUF[MB

M¨DIFGSJUFRVJFTUGJY©FBVSFTUFEFMBQMBRVFEFDVJTTPOQBSVO

TZTU¨NFEFWJT1PVSMBSFUJSFSQSPD©EF[EFMBNBOJ¨SFTVJWBOUF

 UF[UPVTMFTHSJMMFTDPVWFSDMFTEFTCS»MFVSTEJGGVTFVSTFU

CPVUPOTEFDPNNBOEF

 %FTTFSSF[MFTWJTEFTCS»MFVST

 1PVSSFNPOUFSMBQQBSFJMTVJWF[MBQSPD©EVSFJOWFSTFBV

E©NPOUBHF

*MFTUJNQPSUBOUEFGJYFS WRXWHV MFTCBHVFTQPVSQPVWPJSBTTVSFS

M©UBODI©JU©$FTEJTQPTJUJGTTPOUJOEJTQFOTBCMFTQPVSMF

GPODUJPOOFNFOU DPSSFDU EF MBQQBSFJM WV RVJMT FNQªDIFOU MFOUS©F

EFMJRVJEFTFUEFTBMFU©MJOU©SJFVSEFMBQQBSFJM

/FE©NPOUF[KBNBJTMBYFEVSPCJOFU'JH &ODBTEJODJEFOU

DIBOHF[DPNQM¨UFNFOUMFSPCJOFU

$WWHQWLRQ

MBGJOQMBDF[M©UJRVFUUFBVUPDPMMBOUFFOJOEJRVBOUMFOPVWFBV

UZQFEFHB[QS¨TEFMBQMBRVFTJHOBM©UJRVF

*TUSV[JPOJQFSJMNPOUBHHJP

,QGLFD]LRQLGLVLFXUH]]D

-FHHFSFBUUFOUBNFOUFMFJTUSV[JPOJEFMMBQQBSFDDIJPQSJNBEJ

QSPDFEFSFBMMJOTUBMMB[JPOFFBMMVTP

-FJNNBHJOJQSFTFOUJJORVFTUF*TUSV[JPOJEJNPOUBHHJPTPOP

JOEJDBUJWF

,OIDEEULFDQWHGHFOLQDTXDOVLDVLUHVSRQVDELOLWjLQFDVRGL

PDQFDWD RVVHUYDQ]D GHOOH GLVSRVL]LRQL GHO SUHVHQWH PDQXDOH

7XWWHOHRSHUD]LRQLGLLQVWDOOD]LRQHUHJROD]LRQHH

DGDWWDPHQWR DG DOWUL WLSL GL JDV GHYRQR HVVHUH HIIHWWXDWH GD XQ

WHFQLFRGLLQVWDOOD]LRQHDXWRUL]]DWRQHOULVSHWWRGHOOD

QRUPDWLYDHGHOODOHJLVOD]LRQHDSSOLFDELOLQRQFKpGHOOH



SUHVFUL]LRQLGHOOHVRFLHWjORFDOLGLIRUQLWXUDGLJDVHG

HOHWWULFLWj

3HUODGDWWDPHQWRDGDOWULWLSLGLJDVVLFRQVLJOLDGLULYROJHUVL

DOQRVWUR6HUYL]LR7HFQLFR

3ULPDGLHIIHWWXDUHTXDOVLDVLRSHUD]LRQHVWDFFDUH

ODOLPHQWD]LRQHHOHWWULFDHFKLXGHUHLOJDVGHOODSSDUHFFKLR

2VFTUPBQQBSFDDIJP¨TUBUPDPODFQJUPFTDMVTJWBNFOUFQFSVTP

EPNFTUJDPOPO¨DPOTFOUJUPMVTPBTDPQJDPNNFSDJBMJP

QSPGFTTJPOBMJ2VFTUPBQQBSFDDIJPOPOQV²FTTFSFJOTUBMMBUPJO

ZBDIUPDBNQFS-BHBSBO[JBIBWBMJEJUTPMPJODBTPWFOHB

SJTQFUUBUPMVUJMJ[[PQFSDVJ¨TUBUPDPODFQJUP

1SJNB EFMMJOTUBMMB[JPOF WFSJGJDBSF DIF MF DPOEJ[JPOJ EJ EJTUSJCV[JPOF

MPDBMFUJQPFQSFTTJPOFEFMHBTFMBSFHPMB[JPOFEFMMBQQBSFDDIJP

TJBOPDPNQBUJCJMJWUBCFMMB *-FDPOEJ[JPOJEJSFHPMB[JPOF

EFMMBQQBSFDDIJPTPOPSJQPSUBUFTVMMFUJDIFUUBPTVMMBUBSHB

JEFOUJGJDBUJWB

2VFTUPBQQBSFDDIJPQV²FTTFSFJOTUBMMBUPTPMPJOVOMVPHPCFO

WFOUJMBUPOFMSJTQFUUPEFJSFHPMBNFOUJJOWJHPSFFEFMMFEJTQPTJ[JPOJ

SFMBUJWF BMMB WFOUJMB[JPOF -BQQBSFDDIJP OPO EFWF FTTFSF DPMMFHBUP

BVOEJTQPTJUJWPEJFTQVMTJPOFEFJQSPEPUUJEJDPNCVTUJPOF

*MDBWPEJBMJNFOUB[JPOFEFWFFTTFSFGJTTBUPBMNPCJMFQFSFWJUBSF

DIFUPDDIJQBSUJDBMEFEFMGPSOPPEFMQJBOPEJDPUUVSB

(MJ BQQBSFDDIJ DPO BMJNFOUB[JPOF FMFUUSJDB EFWPOP FTTFSF DPMMFHBUJ

PCCMJHBUPSJBNFOUFBUFSSB

/PONBOJQPMBSFMJOUFSOPEFMMBQQBSFDDIJP0WFOFDFTTBSJP

DPOUBUUBSFJMOPTUSP4FSWJ[JP5FDOJDP

3ULPDGHOOLQVWDOOD]LRQH

2VFTUPBQQBSFDDIJPSJFOUSBOFMMBDMBTTFEFMMBOPSNB&/

QFSHMJBQQBSFDDIJBHBTBQQBSFDDIJPJODBTTBUPJOVONPCJMF

*NPCJMJWJDJOJBMMBQQBSFDDIJPEFWPOPFTTFSFDPTUJUVJUJEBNBUFSJBMJ

OPOJOGJBNNBCJMJ*SJWFTUJNFOUJTUSBUJGJDBUJFMBDPMMBDPODVJTPOP

GJTTBUJEFWPOPFTTFSFSFTJTUFOUJBMDBMPSF

2VFTUPBQQBSFDDIJPOPOQV²FTTFSFJOTUBMMBUPTVGSJHPSJGFSJ

MBWBUSJDJMBWBTUPWJHMJFPFMFUUSPEPNFTUJDJTJNJMJ

1FSJOTUBMMBSFJMQJBOPEJDPUUVSBTVVOGPSOPWFSJGJDBSFDIF

RVFTUVMUJNPTJBEPUBUPEJWFOUJMB[JPOFGPS[BUB7FSJGJDBSFMF

EJNFOTJPOJEFMGPSOPOFMSFMBUJWPNBOVBMFEJJOTUBMMB[JPOF

4FTJJOTUBMMBVOFTUSBUUPSFGBSFSJGFSJNFOUPBMSFMBUJWPNBOVBMFEJ

JOTUBMMB[JPOFNBOUFOFOEPTFNQSFVOBEJTUBO[BWFSUJDBMFNJOJNB

EJ NNEBMQJBOPEJDPUUVSB

3UHSDUD]LRQHGHOPRELOHILJ 

&GGFUUVBSFVOUBHMJPEFMMFEJNFOTJPOJOFDFTTBSJFTVMQJBOPEJ

MBWPSP

4F JM QJBOP EJ DPUUVSB ¨ FMFUUSJDP P NJTUP HBT FE FMFUUSJDJU F OPO D¨

VOGPSOPOFMMB[POBTPUUPTUBOUFDPMMPDBSFVOTFQBSBUPSFEJ

NBUFSJBMF OPO JOGJBNNBCJMF BE FT NFUBMMP P MFHOP DPNQFOTBUP B

 NNEBMMBCBTFEFMQJBOPEJDPUUVSB*OUBMNPEPTFOF

JNQFEJTDFMBDDFTTPBMMBQBSUFJOGFSJPSF4FJMQJBOPEJDPUUVSB¨B

HBTTJSBDDPNBOEBEJDPMMPDBSFJMTFQBSBUPSFBMMBTUFTTBEJTUBO[B

4VJQJBOJEJMBWPSPJOMFHOPSJGJOJSFMFTVQFSGJDJEJUBHMJPDPOVOB

DPMMBTQFDJBMFQFSQSPUFHHFSMFEBMMVNJEJU

,QVWDOOD]LRQHGHOODSSDUHFFKLR

$YYHUWHQ]D 1FSJMNPOUBHHJPEFMQJBOPEJDPUUVSBVTBSFHVBOUJ

QSPUFUUJWJ

"TFDPOEBEFMNPEFMMPMBHVBSOJ[JPOFBEFTJWBQV²FTTFSF

BQQMJDBUBJOGBCCSJDB*OUBMDBTPOPOSJNVPWFSMBQFSOFTTVO

NPUJWPMBHVBSOJ[JPOFBEFTJWBFWJUBMFJOGJMUSB[JPOJ4FMB

HVBSOJ[JPOFOPO¨BQQMJDBUBJOGBCCSJDBJODPMMBSMBTVMCPSEP

JOGFSJPSFEFMQJBOPEJDPUUVSB'JH 

1FSJMGJTTBHHJPEFMMBQQBSFDDIJPBMNPCJMFEJJODBTTP

 &TUSBSSFMFHSBGGFEBMTBDDIFUUPEFHMJBDDFTTPSJFBWWJUBSMFOFMMB

QPTJ[JPOFJOEJDBUBMBTDJBOEPDIFHJSJOPMJCFSBNFOUF

 *ODBTTBSFFDFOUSBSFJMQJBOPEJDPUUVSB

1SFNFSFTVJCPSEJGJOPBEBQQPHHJBSFQFSGFUUBNFOUFUVUUPJM

QFSJNFUSP

 (JSBSFMFHSBGGFFTUSJOHFSMFBGPOEP

-BQPTJ[JPOFEFMMFHSBGGFEJQFOEFEBMMPTQFTTPSFEFMQJBOPEJ

MBWPSP'JH B

6PRQWDJJLRGHOSLDQRGLFRWWXUD

4DPMMFHBSFMBQQBSFDDIJPEBMMFQSFTFFMFUUSJDIFFEBMMBUUBDDPEFM

HBT

4WJUBSFMFHSBGGFFTFHVJSFJONPEPJOWFSTPMBQSPDFEVSBEJ

NPOUBHHJP

$WWDFFRGHOJDVILJ 

*MSBDDPSEPEFMHBTEFWFFTTFSFEJTQPTUPJONPEPDIFJMSVCJOFUUP

TJBBDDFTTJCJMF

-FTUSFNJUEFMMBDPOOFTTJPOFEJJOHSFTTPEFMQJBOPEJDPUUVSBB

HBT¨EPUBUBEJGJMFUUBUVSBEBࣔ NNDIFDPOTFOUF

■ JMDPMMFHBNFOUPSJHJEP

■ MBUUBDDPBVOUVCPGMFTTJCJMFNFUBMMJDP- NJO NNBY N

OFDFTTBSJPJOUFSDBMBSFMBHVBSOJ[JPOFEJUFOVUBJO

EPUB[JPOFGSBMVTDJUBEFMDPMMFUUPSFFJMSBDDPSEPEFMHBT

4JEFWFFWJUBSFJMDPOUBUUPEFMUVCPDPOQBSUJNPCJMJEFMMVOJU

EJODBTTPBEFTFNQJPVODBTTFUUPFJMQBTTBHHJPBUUSBWFSTP

TQB[JTPHHFUUJBQPTTJCJMJPTUSV[JPOJ

*ORVBMTJBTJDPOOFTTJPOF QRQPXRYHUHQpJLUDUHLOJRPLWREBMMB

QPTJ[JPOFTUBCJMJUBJOGBCCSJDB

/FMDBTPJODVJPDDPSSBSFBMJ[[BSFVOBDPOOFTTJPOFDJMJOESJDB

TPTUJUVJSFJMHPNJUPNPOUBUPJOGBCCSJDBDPORVFMMPGPSOJUPOFM

TBDDIFUUPEFHMJBDDFTTPSJ'JH B

/POTDPSEBSTJEJJOUFSDBMBSFMBHVBSOJ[JPOF

: 3HULFRORGLIXJKH

4FTJNBOJQPMBRVBMVORVFUJQPEJSBDDPSEPWFSJGJDBSOFMBUFOVUB

*MGBCCSJDBOUFEFDMJOBPHOJSFTQPOTBCJMJUJODBTPEJDPOOFTTJPOJ

DIFQSFTFOUJOPGVHIFEPQPMBNBOJQPMB[JPOFEFMMFTUFTTF

&RQQHVVLRQHHOHWWULFDILJ 

7FSJGJDBSFDIFMBUFOTJPOFFMBQPUFO[BEFMMBQQBSFDDIJPTJBOP

DPNQBUJCJMJDPOMJNQJBOUPFMFUUSJDP

* QJBOJ EJ DPUUVSB WFOHPOP GPSOJUJ EPUBUJ EJ DBWP EJ BMJNFOUB[JPOF DPO

PTFO[BTQJOBFMFUUSJDB

(MJBQQBSFDDIJNVOJUJEJTQJOBEFWPOPFTTFSFDPMMFHBUJTPMUBOUPB

QSFTFFMFUUSJDIFDPOQSFTBEJUFSSBEFCJUBNFOUFJOTUBMMBUF

1SFWFEFSFVOTF[JPOBUPSFPOOJQPMBSFDPOBQFSUVSBEJDPOUBUUPEJ

BMNFOP NNUSBOOFDIFQFSJDPMMFHBNFOUJBTQJOBTFMVUFOUF

QV²BDDFEFSWJ

2VFTUPBQQBSFDDIJP¨EFMUJQP࣓:ࣔ*MDBWPEJJOHSFTTPOPOQV²

FTTFSF DBNCJBUP EBMMVUFOUF NB TPMP EBM 4FSWJ[JP 5FDOJDP 0DDPSSF

JOGBUUJSJTQFUUBSFJMUJQPEJDBWPFMBTF[JPOFNJOJNB

&DPELRGHOWLSRGLJDV

4FMBOPSNBUJWBEFMQBFTFMPDPOTFOUFRVFTUPBQQBSFDDIJPQV²

FTTFSFBEBUUBUPBEBMUSJUJQJEJHBTWUBSHBJEFOUJGJDBUJWB*

DPNQPOFOUJOFDFTTBSJBRVFTUBPQFSB[JPOFTJUSPWBOPOFMMBCPSTB

LJUEJDPOWFSTJPOFJOEPUB[JPOFBTFDPOEBEFMNPEFMMPP

EJTQPOJCJMFQSFTTPJMOPTUSP4FSWJ[JP5FDOJDP1SPDFEFSFDPNF

JOEJDBUPEJTFHVJUP

$6RVWLWX]LRQHGHJOLLQLHWWRULILJ 

 3JNVPWFSFMFHSJHMJFJDPQFSDIJEFMCSVDJBUPSFFJEJGGVTPSJ

 4PTUJUVJSFHMJJOJFUUPSJVTBOEPMBDIJBWFEJTQPOJCJMFQSFTTPJM

OPTUSP4FSWJ[JP5FDOJDPDPEJDFQFSJCSVDJBUPSJ

BEPQQJBGJBNNBGBSSJGFSJNFOUPBMMBUBCFMMB**GBDFOEP

QBSUJDPMBSF BUUFO[JPOF DIF MJOJFUUPSF OPO TJ EJTUBDDIJ RVBOEP UPMUP

PGJTTBUPBMCSVDJBUPSF

"TTJDVSBSTJEJTFSSBSMJBGPOEPQFSHBSBOUJSOFMBUFOVUB

*ORVFTUJCSVDJBUPSJOPO¨OFDFTTBSJPFGGFUUVBSFMBSFHPMB[JPOF

EFMMBSJBQSJNBSJB

 $PMMPDBSFJEJGGVTPSJFJDPQFSDIJEFJCSVDJBUPSJTVJDPSSJTQPOEFOUJ

GVPDIJ4JEFWPOPJOPMUSFQPTJ[JPOBSFBEFHVBUBNFOUFMFHSJHMJF

TVHMJBQQPTJUJFMFNFOUJEJTPTUFHOP'JH B

%5HJROD]LRQHGHLUXELQHWWL

 $PMMPDBSFMFNBOPQPMFOFMMBQPTJ[JPOFEJNJOJNP

 &TUSBSSFMFNBOPQPMFEFJSVCJOFUUJ'JH 

4JUSPWFSVOBUFOVUBJOHPNNBGMFTTJCJMFTVGGJDJFOUFGBSF

QSFTTJPOFDPOMBQVOUBEFMDBDDJBWJUFQFSDSFBSFTQB[JPF

BDDFEFSFBMMBWJUFEJSFHPMB[JPOFEFMSVCJOFUUP 1RQVPRQWDUH

PDLODWHQXWD

 3FHPMBSFJMGVPDPNJOJNPHJSBOEPMBWJUFEJCZQBTTDPOVO

DBDDJBWJUFBQVOUBQJBUUB

" TFDPOEB EFM HBT VUJMJ[[BUP EBMMBQQBSFDDIJP W UBCFMMB *** BHJSF

EJDPOTFHVFO[B

"TUSJOHFSFBGPOEPMFWJUJEJCZQBTT

# BMMFOUBSF MF WJUJ EJ CZQBTT GJOP BMMB DPSSFUUB SFHPMB[JPOF EFM HBT

JOVTDJUBEBJCSVDJBUPSJWFSJGJDBSFDIFSFHPMBOEPMBNBOPQPMBUSB

JMNBTTJNPFJMNJOJNPJMCSVDJBUPSFOPOTJTQFOHBO©TJ

WFSJGJDIJOPSJUPSOJEJGJBNNB

$MFWJUJEJCZQBTTEFWPOPFTTFSFTPTUJUVJUFEBVOUFDOJDP

BVUPSJ[[BUP

%OPONBOJQPMBSFMFWJUJEJCZQBTT



4F OPO TJ SJFTDF BE BDDFEFSF BMMB WJUF EJ CZQBTT TNPOUBSF MB QBSUF

TVQFSJPSFEFMQJBOPEJDPUUVSBGJTTBUBBMSFTUPEFMQJBOPEJDPUUVSB

EBVOTJTUFNBEJWJUJ1FSSJNVPWFSMBQSPDFEFSFDPNFTFHVF

 5PHMJFSFUVUUFMFHSJHMJFJDPQFSDIJEFJCSVDJBUPSJJEJGGVTPSJFMF

NBOPQPMF

 3JNVPWFSFMFWJUJEFJCSVDJBUPSJ

 1FSSJNPOUBSFMBQQBSFDDIJPJOWFSUJSFMBQSPDFEVSBEJ

TNPOUBHHJP

1FS HBSBOUJSF MB UFOVUB ¨ JNQPSUBOUF DIF WXWWH MF UFOVUF TJBOP BM

MPSPQPTUP2VFTUJFMFNFOUJTPOPJOEJTQFOTBCJMJQFSJMDPSSFUUP

GVO[JPOBNFOUPEFMMBQQBSFDDIJPEBUPDIFJNQFEJTDPOP

MJOUSPEV[JPOFEJMJRVJEJFTQPSDJ[JBBMMJOUFSOPEFMMBQQBSFDDIJP

/POTNPOUBSFNBJMBTTFEFMSVCJOFUUP'JH JODBTPEJHVBTUP

TPTUJUVJSFJMSVCJOFUUPDPNQMFUP

$WWHQ]LRQH

"MUFSNJOFBQQMJDBSFMFUJDIFUUBBEFTJWBJOEJDBOEPJMOVPWPUJQPEJ

HBTBDDBOUPBMMBUBSHBJEFOUJGJDBUJWB

,QVWDOODWLHYRRUVFKULIW

9HLOLJKHLGVDDQZLM]LQJHQ

-FFTEFJOTUSVDUJFTWBOIFUBQQBSBBUBMWPSFOTPWFSUFHBBOUPUEF

JOTUBMMBUJFFOIFUHFCSVJLFSWBO

%FHSBGJFLFOBGHFCFFMEJOEJU*OTUBMMBUJFWPPSTDISJGU[JKOUFS

PSJ«OUBUJF

'HIDEULNDQWLVYULMYDQHONHYHUDQWZRRUGHOLMNKHLGLQGLHQQLHW

YROGDDQZRUGWDDQGHEHVFKLNNLQJHQYDQGH]HKDQGOHLGLQJ

$OOHZHUN]DDPKHGHQEHWUHIIHQGHLQVWDOODWLHDIVWHOOLQJHQ

DDQSDVVLQJDDQHHQDQGHUJDVW\SHPRHWHQZRUGHQ

XLWJHYRHUGGRRUHHQEHNZDDPLQVWDOODWHXUZDDUELMDOOH

WRHSDVEDUH QRUPHQ HQ ZHWJHYLQJ HQ GH YRRUVFKULIWHQ YDQ GH

ORNDOHJDVHQHOHNWULFLWHLWVPDDWVFKDSSLMHQPRHWHQZRUGHQ

QDJHOHHIG

+HW ZRUGW DDQEHYROHQ RQ]H 7HFKQLVFKH 'LHQVW WH WHOHIRQHUHQ

YRRUGHDDQSDVVLQJDDQHHQDQGHUJDVW\SH

6OXLWYyyUHONHKDQGHOLQJGHVWURRPHQJDVWRHYRHUYDQKHW

DSSDUDDWDI

%JU BQQBSBBU JT VJUTMVJUFOE CFTUFNE WPPS IVJTIPVEFMJKL HFCSVJL )FU

JTOJFUUPFHFTUBBOIFUUFHFCSVJLFOWPPSQSPGFTTJPOFMFPG

DPNNFSD¯FMFEPFMFJOEFO)FUBQQBSBBUNBHOJFUJOKBDIUFOPG

DBSBWBOTXPSEFOHF¯OTUBMMFFSE%FHBSBOUJFHFMEUBMMFFOXBOOFFS

IFUBQQBSBBUPQEFKVJTUFXJK[FXPSEUHFCSVJLU

$POUSPMFFSWPPSEFJOTUBMMBUJFPGEFWPPSXBBSEFOWBOMPLBMF

EJTUSJCVUJFBBSEFOESVLWBOIFUHBTFOEFBGTUFMMJOHWBOIFU

BQQBSBBUDPNQBUJCFM[JKO[JFUBCFM *%FBGTUFMWPPSXBBSEFOWBO

IFUBQQBSBBUTUBBOPQIFUMBCFMPGPQIFUHFHFWFOTQMBBUKF

%JUBQQBSBBUNBHFOLFMXPSEFOHF¯OTUBMMFFSEJOFFOHPFE

HFWFOUJMFFSEFSVJNUFXBBSCJKEFHFMEFOEFSFHMFNFOUFOFO

CFTDIJLLJOHFOJO[BLFWFOUJMBUJFOBHFMFFGEXPSEFO)FUBQQBSBBU

NBH OJFU XPSEFO BBOHFTMPUFO PQ FFO JOSJDIUJOH WPPS EF BGWPFS WBO

WFSCSBOEJOHTQSPEVDUFO

%FWPFEJOHTLBCFMNPFUXPSEFOWBTUHFNBBLUJOIFUNFVCFMTUVL

PN UF WPPSLPNFO EBU EF[F DPOUBDU NBBLU NFU EF HFEFFMUFT WBO EF

PWFOPGWBOEFLPPLQMBBUEJFXBSNXPSEFO

"QQBSBUFONFUTUSPPNUPFWPFSNPFUFOWFSQMJDIUHFBBSEXPSEFO

.BOJQVMFFSEFCJOOFO[JKEFWBOIFUBQQBSBBUOJFU5FMFGPOFFS

JOEJFOOPEJHPO[F5FDIOJTDIF%JFOTU

9yyUGHLQVWDOODWLH

%JU BQQBSBBU CFIPPSU UPU LMBTTF  WPMHFOT EF OPSN &/  WPPS

HBTBQQBSBUFOBQQBSBBUJOHFCPVXEJOFFONFVCFM

%FNFVCFMTEJDIUCJKIFUBQQBSBBUNPFUFOVJUOJFUPOUWMBNCBSF

NBUFSJBMFO CFTUBBO %F HFMBBHEF CFLMFEJOHFO FO EF MJKN EJF EF[F

CFWFTUJHUNPFUFOIJUUFCFTUFOEJH[JKO

%JUBQQBSBBULBOOJFUHF¯OTUBMMFFSEXPSEFOPQLPFMLBTUFO

XBTNBDIJOFTWBBUXBTTFSTPGEFSHFMJKLF

0NFFOLPPLQMBBUPQFFOPWFOUFJOTUBMMFSFONPFUEF[FPWFS

HFGPSDFFSEFWFOUJMBUJFCFTDIJLLFO$POUSPMFFSEFBGNFUJOHFOWBO

EFPWFOJOVXJOTUBMMBUJFIBOEMFJEJOH

*OEJFOFFOBG[VJHLBQHF¯OTUBMMFFSEXPSEUNPFUSFLFOJOH

HFIPVEFOXPSEFONFUEFJOTUBMMBUJFIBOEMFJEJOHIJFSWBOXBBSCJK

BMUJKEFFONJOJNBMFWFSUJDBMFBGTUBOEWBO NNUPUEFLPPLQMBBU

CFIPVEFOXPSEU

9RRUEHUHLGLQJYDQKHWPHXEHODIE 

#SFOHFFOJOTOJKEJOHBBOWBOEFOPEJHFBGNFUJOHFOPQIFU

XFSLWMBL

*OEJFOEFLPPLQMBBUFMFLUSJTDIPGHFNFOHEHBTFOFMFLUSJDJUFJUJT

FO FS [JDI HFFO PWFO POEFS CFWJOEU QMBBUT EBO FFO TDIFJEJOHTTUVL

WBOOJFUPOUWMBNCBBSNBUFSJBBMCWNFUBBMPGHFMBBHEIPVUPQ

 NNWBOEFCBTJTWBOEFLPPLQMBBU;PXPSEUUPFHBOH

WFSNFEFOUPUEFPOEFS[JKEFIJFSWBO*OEJFOIFUFFOHBTLPPLQMBBU

JTXPSEUBBOCFWPMFOIFUTDIFJEJOHTTUVLPQEF[FMGEFBGTUBOEUF

QMBBUTFO

7FSOJTWPPSIPVUFOXFSLWMBLLFOEFTOJKWMBLLFONFUFFOTQFDJBMF

MJKNPNEF[FUFCFTDIFSNFOUFHFOWPDIU

,QVWDOODWLHYDQKHWDSSDUDDW

$DQZLM]LQJ #JKIFUJOCPVXFOWBOEFLPPLQMBBUEJFOUV

WFJMJHIFJETIBOETDIPFOFOUFESBHFO

"GIBOLFMJKLWBOIFUNPEFMLBOEF[FMGLMFWFOEFQBLLJOHBMJOEF

GBCSJFL[JKOHFQMBBUTU"MTEBU[PJTWFSXJKEFSEF[FEBOJOHFFO

HFWBMEF[FMGLMFWFOEFQBLLJOHWPPSLPNUGJMUSBUJFT"MTEFQBLLJOH

OJFU JO GBCSJFL JT HFQMBBUTU QMBL EF[F EBO BBO EF POEFSSBOE WBO EF

LPPLQMBBU"GC 

7PPSEFCFWFTUJHJOHWBOIFUBQQBSBBUBBOIFUJOCPVXNFVCFM

 )BBMEFLMFNNFOVJUEF[BLNFUBDDFTTPJSFTFOTDISPFGEF[F

WBTUJOEFBBOHFEVJEFTUBOE[PSHEBUEF[FWSJKESBBJFO

 #PVXEFLPPLQMBBUJOFODFOUSFFSEF[F

%SVLPQEFVJUFJOEFOUPUEBUEFQMBBUPQEFIFMFPNUSFLTUFVOU

 %SBBJEFLMFNNFOIFMFNBBMBBO

%FTUBOEWBOEFLMFNNFOJTBGIBOLFMJKLWBOEFEJLUFWBOIFU

XFSLWMBL"GC B

8LWERXZYDQGHNRRNSODDW

4MVJUIFUBQQBSBBUBGWBOEFFMFLUSJDJUFJUTFOHBTBBOTMVJUJOH

%SBBJ EF LMFNNFO MPT FO HB PQ PNHFLFFSEF XFSLXJK[F UF XFSL BMT

CJKEFNPOUBHF

*DVDDQVOXLWLQJDIE 

%FHBTBBOTMVJUJOHNPFU[PBBOHFMFHE[JKOEBUEFBGTMVJULSBBO

UPFHBOLFMJKLJT

)FU VJUFJOEF WBO EF JOMBBUDPMMFDUPS WBO EF HBTLPPLQMBBU JT WPPS[JFO

WBOFFOTDISPFGESBBEWBOࣔ NN.FUEF[F

TDISPFGESBBEJTNPHFMJKL

■ &FOTUBSSFWFSCJOEJOH

■ &FOWFSCJOEJOHNFUFFONFUBMFOTMBOH- NJO NNBY  N

%FHFMFWFSEFBGEJDIUQBLLJOHNPFUXPSEFOJOHFWPFHE

UVTTFOEFVJUMBBUWBOIFUTQSVJUTUVLFOHBTBBOTMVJUJOH

&SNPFUXPSEFOWFSNFEFOEBUEF[FCVJTDPOUBDUNBBLUNFUEF

CFXFFHCBSFPOEFSEFMFOWBOEFFFOIFJEXBBSJOEFLPPLQMBBUJT

JOHFCPVXE FFO MBEF CJKWPPSCFFME PG EBU IJK EPPS SVJNUFT MPPQU EJF

WFSTUPQULVOOFOSBLFO

#JKCFJEFWFSCJOEJOHFOEJFOUVFSWPPSUF[PSHFO KHWNQLHVWXNQLHW

WHEHZHJHQRIWHGUDDLHQ UFOPQ[JDIUFWBOEFTUBOEXBBSJOIJK

WBOVJUEFGBCSJFLLPNU

*OEJFO V FFO DJMJOESJTDIF BBOTMVJUJOH NPFU NBLFO WFSWBOH EBO IFU

EPPSEFGBCSJFLHF¯OTUBMMFFSEFLOJFTUVLEPPSEBUVJUEF[BLNFU

BDDFTTPJSFT"GC B

7FSHFFUOJFUPNEFQBLLJOHJOUFWPFHFO

: /HNJHYDDU

*OEJFOFFOBBOTMVJUJOHHFNBOJQVMFFSEXPSEUDPOUSPMFFSEF

MFLEJDIUIFJE

%FGBCSJLBOUJTOJFUBBOTQSBLFMJKLBMTFFOBBOTMVJUJOHMFLLFO

WFSUPPOUOBEBUEF[FHFNBOJQVMFFSEJT

(OHNWULVFKHDDQVOXLWLQJ$IE 

$POUSPMFFSPGIFUWPMUBHFFOIFUWFSNPHFOWBOIFUBQQBSBBU

DPNQBUJCFM[JKONFUEFFMFLUSJTDIFJOTUBMMBUJF

%FLPPLQMBUFOXPSEFOHFMFWFSENFUFFOWPFEJOHTLBCFMNFUPG

[POEFSTUFLLFS

"QQBSBUFO EJF WPPS[JFO [JKO WBO FFO TUFLLFS NPHFO BMMFFO PQ FFO

HPFEHFBBSETUPQDPOUBDUXPSEFOBBOHFTMPUFO

&SNPFUFFOPNOJQPMBJSFPOEFSCSFLJOHTTDIBLFMBBSWPPS[JFO

XPSEFONFUFFONJOJNBMFDPOUBDUPQFOJOHWBO NNCFIBMWFCJK

FFO TUFLLFSBBOTMVJUJOH JOEJFO EF[F HFNBLLFMJKL CFSFJLCBBS JT WPPS

EFHFCSVJLFS

%JUBQQBSBBUJTWBOIFUUZQF࣓:ࣔEFJOWPFSLBCFMNBHOJFU

WFSWBOHFOXPSEFOEPPSEFHFCSVJLFSNBBSEPPSEF5FDIOJTDIF

%JFOTU )FU UZQF LBCFM FO EF NJOJNVNEPPSTOFEF EJFOFO UF XPSEFO

HFSFTQFDUFFSE

9HUDQGHULQJYDQJDVW\SH

*OEJFOEFOPSNWBOIFUMBOEIFUUPFMBBUNBHEJUBQQBSBBU

BBOHFQBTUXPSEFOBBOBOEFSFHBTTFO[JFHFHFWFOTQMBBUKF%F

IJFSWPPSCFOPEJHEFPOEFSEFMFOCFWJOEFO[JDIJOIFUHFMFWFSEF

PNWPSNJOHTQBLLFUBGIBOLFMJKLWBOIFUNPEFM)FUQBLLFUJT

CFTDIJLCBBSCJKPO[FUFDIOJTDIFEJFOTU7PMHPOEFSTUBBOEF

TUBQQFOPQ

 

$9HUYDQJHQYDQGHLQVSXLWHUVDIE 

 7FSXJKEFSEFSPPTUFSTIPFEKFTFOWFSTQSFJEFST

 7FSWBOH EF JOTQVJUFST NFU EF TMFVUFM EJF CFTDIJLCBBS JT WJB PO[F

UFDIOJTDIF EJFOTU NFU DPEF  WPPS CSBOEFST NFU EVCCFMF

WMBNDPEF[JFUBCFM**;PSHEBUEFJOTQVJUFSOJFU

MPTSBBLUCJKIFUWFSXJKEFSFOPGQMBBUTFOIJFSWBOPQEFCSBOEFS

%SBBJEF[FHPFEBBOPNEFMFLEJDIUIFJEUFHBSBOEFSFO

*OEF[FCSBOEFSTIPFGUHFFOBGTUFMMJOHWBOEFQSJNBJSFMVDIU

QMBBUTUFWJOEFO

 1MBBUT EF WFSTQSFJEFST FO EF IPFEKFT PQ EF PWFSFFOTUFNNFOEF

QJUUFO0PLEJFOFOEFSPPTUFSTPQEFKVJTUFXJK[FUFXPSEFO

HFQMBBUTU"GC B

%$IVWHOOLQJYDQGHNUDQHQ

 ;FUEFLOPQQFOJOEFMBBHTUFTUBOE

 )BBMEFLOPQQFOWBOEFLSBOFOBG"GC

6 USFGU FFO GMFYJCFMF SVCCFS LFFSSJOH BBO 6 EJFOU FOLFM UF ESVLLFO

NFU EF QVOU WBO EF TDISPFWFOESBBJFS PQEBU EF EPPSWPFS OBBS EF

TUFMTDISPFGWBOEFLSBBOWSJKLPNU %RXZGHNHHUULQJQRRLWXLW

 4UFMEFNJOJNVNTUBOEBGEPPSEFCZQBTTCPVUUFESBBJFONFU

FFOTDISPFWFOESBBJFSNFUFFOWMBLLFQVOU

7PFSBGIBOLFMJKLWBOIFUHBTXBBSBBOVXBQQBSBBUBBOHFQBTU

[BMXPSEFO[JFUBCFM***POEFSTUBBOEFIBOEFMJOHVJU

"ESBBJEFCZQBTTCPVUFOIFMFNBBMBBO

#NBBLEFCZQBTTCPVUFOMPTUPUEFDPSSFDUFHBTVJUMBBUWBOEF

CSBOEFSTDPOUSPMFFSPGCJKIFUBGTUFMMFOWBOEFLOPQUVTTFOEF

NBYJNVNFONJOJNVNTUBOEEFCSBOEFSOJFUVJUHBBUOPDI

HBTJOTMBHHFWPSNEXPSEU

$EFCZQBTTCPVUFONPFUFOXPSEFOWFSWBOHFOEPPSFFO

CFWPFHEF5FDIOJTDIF%JFOTU

%NBOJQVMFFSEFCZQBTTCPVUFOOJFU

7JOEU V EF UPFHBOH UPU EF CZQBTT CPVU OJFU CPVX EF WFUQPU VJU EJF

CFWFTUJHEJTBBOEFSFTUWBOEFLPPLQMBBUNFUFFOTZTUFFNWBO

TDISPFWFO (B PN EF[F UF WFSXJKEFSFO PQ POEFSTUBBOEF XJK[F UF

XFSL

 7FSXJKEFSBMMFSPPTUFSTIPFEKFTWFSTQSFJEFSTFOLOPQQFO

 .BBLEFCPVUFOWBOEFCSBOEFSTMPT

 (BPNIFUBQQBSBBUUFSVHJOUFCPVXFOPQPNHFLFFSEFXJK[F

UFXFSLEBOCJKEFEFNPOUBHF

)FUJTCFMBOHSJKLEBU DOOH LFFSSJOHFOHFQMBBUTU[JKOPNEF

MFLEJDIUIFJEUFLVOOFOHBSBOEFSFO%F[FJOSJDIUJOHFO[JKO

PONJTCBBS WPPS EF DPSSFDUF XFSLJOH WBO IFU BQQBSBBU BBOHF[JFO

EF[FEFJOMBBUWBOWMPFJTUPGFOWVJMJOIFUBQQBSBBUWFSNJKEFO

#PVXEFBTWBOEFLSBBOOPPJUVJU"GC #JKTUPSJOHFOEJFOUEF

LSBBOJO[JKOHFIFFMUFXPSEFOWFSWBOHFO

$WWHQWLH

1MBBUTUFOTMPUUFEFTUJDLFSEJFIFUOJFVXFHBTUZQFBBOEVJEU

EJDIUCJKIFUHFHFWFOTQMBBUKF

,QVWUXo}HVGHPRQWDJHP

,QGLFDo}HVGHVHJXUDQoD

-FJB BT JOTUSV§µFT EP BQBSFMIP BOUFT EF QSPDFEFS  TVB JOTUBMB§£P

FVTP

0THS¡GJDPTT£PSFQSFTFOUBEPTOFTUBT*OTUSV§µFTEFNPOUBHFNB

UUVMPPSJFOUBUJWP

2IDEULFDQWHILFDLVHQWRGHWRGDDUHVSRQVDELOLGDGHFDVRQmR

VHFXPSUDPDVGLVSRVLo}HVFRQVWDQWHVGHVWHPDQXDO

7RGRVRVWUDEDOKRVGHLQVWDODomRUHJXODomRHDGDSWDomRD

RXWURVWLSRVGHJiVGHYHPVHUHIHFWXDGRVSRUXPWpFQLFRGH

LQVWDODomR DXWRUL]DGR UHVSHLWDQGR WRGDV DV UHJXODPHQWDo}HV

HOHJLVODomRDSOLFiYHLVEHPFRPRRHVWLSXODGRSHODV

HPSUHVDVORFDLVIRUQHFHGRUDVGHJiVHHOHFWULFLGDGH

5HFRPHQGDVHFKDPDURQRVVR6HUYLoRGH$VVLVWrQFLD

7pFQLFDSDUDDDGDSWDomRDRXWURVWLSRVGHJiV

$QWHVGHTXDOTXHUSURFHGLPHQWRFRUWHDDOLPHQWDomR

HOpFWULFDHGHJiVGRDSDUHOKR

&TUFBQBSFMIPGPJVOJDBNFOUFDPODFCJEPQBSBVUJMJ[B§£P

DPNFSDJBJT PV QSPGJTTJPOBJT &TUF BQBSFMIP O£P QPEF TFS JOTUBMBEP

FNJBUFTPVDBSBWBOBT"HBSBOUJBBQFOBTTFS¡W¡MJEBDBTPP

BQBSFMIPTFKBVUJMJ[BEPDPSSFDUBNFOUFFQBSBPTGJOTBRVFTF

EFTUJOB

"OUFTEBJOTUBMB§£PEFWFDPNQSPWBSTFBTDPOEJ§µFTEF

EJTUSJCVJ§£PMPDBMOBUVSF[BFQSFTT£PEPH¡TFBSFHVMB§£PEP

BQBSFMIPT£PDPNQBUWFJTWFSUBCFMB *"TDPOEJ§µFTEF

SFHVMB§£P EP BQBSFMIP FTU£P JOEJDBEBT OB FUJRVFUB PV OB QMBDB EF

DBSBDUFSTUJDBT

&TUFBQBSFMIPT³QPEFTFSJOTUBMBEPOVNMPDBMCFNWFOUJMBEPF

DVNQSJOEPDPNPTSFHVMBNFOUPTFNWJHPSFBTEJTQPTJ§µFT

SFMBUJWBTWFOUJMB§£P&TUFBQBSFMIPO£PEFWFTFSMJHBEPBVN

EJTQPTJUJWPEFFWBDVB§£PEPTQSPEVUPTEFDPNCVTU£P

0DBCPEFBMJNFOUB§£PEFWFTFSGJYPBPN³WFMQBSBFWJUBSRVF

FOUSF FN DPOUBDUP DPN BT QBSUFT RVFOUFT EP GPSOP PV EB QMBDB EF

DP[FEVSB

PCSJHBUPSJBNFOUFMJHBEPTUFSSB

/£PNBOJQVMFPJOUFSJPSEPBQBSFMIP4FOFDFTT¡SJPDPOUBDUFP

$QWHVGDLQVWDODomR

&TUF BQBSFMIP DPSSFTQPOEF  DMBTTF  TFHVOEP B OPSNB &/ 

QBSBBQBSFMIPTBH¡TBQBSFMIPFODBTUSBEPOVNN³WFM

0TN³WFJTRVFGJRVFNQS³YJNPTEPBQBSFMIPEFWFNTFSGFJUPTEF

NBUFSJBJTO£PJOGMBN¡WFJT0TSFWFTUJNFOUPTFTUSBUJGJDBEPTFB

DPMBRVFPTGJYBEFWFNTFSSFTJTUFOUFTBPDBMPS

&TUF BQBSFMIP O£P QPEF TFS JOTUBMBEP TPCSF GSJHPSGJDPT N¡RVJOBT

EFMBWBSSPVQBN¡RVJOBTEFMBWBSMPJ§BPVBQBSFMIPTTJNJMBSFT

1BSBJOTUBMBSBQMBDBEFDP[FEVSBTPCSFVNGPSOPFTUFEFWF

JODMVJSVNNFDBOJTNPEFWFOUJMB§£PGPS§BEB7FSJGJRVFBT

EJNFOTµFTEPGPSOPOPTFVNBOVBMEFJOTUBMB§£P

4FJOTUBMBSVNFYUSBDUPSEFWFUFSFNDPOUBPSFTQFDUJWPNBOVBM

EFJOTUBMB§£PSFTQFJUBOEPTFNQSFVNBEJTU¢ODJBWFSUJDBMNOJNB

EF NNEBQMBDBEFDP[FEVSB

3UHSDUDomRGRPyYHOILJ 

3FBMJ[FVNDPSUFEBTEJNFOTµFTOFDFTT¡SJBTOBTVQFSGDJFEF

USBCBMIP

FTFO£PIPVWFSVNGPSOPQPSCBJYPEBNFTNBDPMPRVFVN

TFQBSBEPS EF NBUFSJBM O£P JOGMBN¡WFM QPS FY EF NFUBM PV NBEFJSB

DPOUSBQMBDBEBB NNEBCBTFEBQMBDBEFDP[FEVSB"TTJN

JNQFEF P BDFTTP  QBSUF JOGFSJPS EFTUB 4F B QMBDB EF DP[FEVSB GPS

BH¡TSFDPNFOEBTFRVFDPMPRVFPTFQBSBEPSNFTNB

EJTU¢ODJB

&NTVQFSGDJFTEFUSBCBMIPEFNBEFJSBFOWFSOJ[FBTTVQFSGDJFT

EFDPSUFDPNVNBDPMBFTQFDJBMQBSBBTQSPUFHFSEBIVNJEBEF

,QVWDODomRGRDSDUHOKR

1RWD 6UJMJ[FMVWBTEFQSPUF§£PQBSBNPOUBSBQMBDBEFDP[JOIBS

4FHVOEPPNPEFMPBKVOUBBEFTJWBQPEFWJSDPMPDBEBEFG¡CSJDB

4FGPSFTTFPDBTPO£PBSFNPWBEFGPSNBBMHVNBBKVOUB

BEFTJWBJNQFEFBTJOGJMUSB§µFT4FBKVOUBO£PWJFSDPMPDBEBEF

G¡CSJDBDPMFBOBNBSHFNJOGFSJPSEBQMBDBEFDP[FEVSB'JH 

1BSBBGJYB§£PEPBQBSFMIPOPN³WFMEFFODBTUSBNFOUP

 3FUJSF PT HSBNQPT EP DPOKVOUP EF BDFTT³SJPT F BQBSBGVTFPT OB

QPTJ§£PJOEJDBEBEFJYBOEPRVFFTUFTSPEFNMJWSFNFOUF

 &ODBTUSFFDFOUSFBQMBDBEFDP[FEVSB

TFVQFSNFUSP

 (JSFPTHSBNQPTFBQFSUFPTCFN

" QPTJ§£P EPT HSBNQPT EFQFOEF EB FTQFTTVSB EB TVQFSGDJF EF

USBCBMIP'JH B

'HVPRQWDJHPGDSODFDGHFR]HGXUD

%FTBQBSBGVTFPTHSBNQPTFQSPDFEBEFNPEPJOWFSTPBPEB

NPOUBHFN

/LJDomRDJiVILJ 

" MJHB§£P EP BQBSFMIP  SFEF EF H¡T UFN EF TFS SFBMJ[BEB EF GPSNB

BRVFBUPSOFJSBEFGFDIPGJRVFBDFTTWFM

" FYUSFNJEBEF EP DPMFDUPS EF FOUSBEB EB QMBDB EF DP[FEVSB B H¡T

FTU¡FRVJQBEBDPNVNBSPTDBEFࣔ NNRVFQFSNJUF

■ 3FBMJ[BSVNBMJHB§£PSHJEB

■ 3FBMJ[BSBMJHB§£PDPNVNUVCPGMFYWFMNFU¡MJDP- NJO N

NBY N

OFDFTT¡SJPJOUFSDBMBSBKVOUBEFFTUBORVFJEBEF

GPSOFDJEBFOUSFBTBEBEPDPMFDUPSFBFOUSBEBEFH¡T

%FWFTFFWJUBSPDPOUBDUPEPUVCPDPNRVBMRVFSQBSUFN³WFMEB

VOJEBEF POEF TF FNCVUJS¡ P BQBSFMIP QPS FYFNQMP VNB HBWFUB

CFNDPNPBTVBQBTTBHFNQPSFTQB§PTRVFQPTTBNGJDBS

PCTUSVEPT

&NRVBMRVFSVNBEBTMJHB§µFTQmRPRYDQHPURGHRFRWRYHOR

EBQPTJ§£PRVFWFNEFG¡CSJDB

1BSBSFBMJ[BSVNBMJHB§£PDPNUVCBHFNDJMOESJDBTVCTUJUVBP

DPUPWFMP JOTUBMBEP EF G¡CSJDB QFMP DPUPWFMP JODMVEP OP DPOKVOUP EF

BDFTT³SJPT'JH B

/£PTFFTRVF§BEFJOUFSDBMBSBKVOUB

 

: 3HULJRGHIXJD

4FNBOJQVMBSRVBMRVFSMJHB§£PWFSJGJRVFBFTUBORVFJEBEF

0GBCSJDBOUFO£PTFSFTQPOTBCJMJ[BTFBMHVNBMJHB§£PBQSFTFOUBS

GVHBTEFQPJTEFUFSTJEPNBOJQVMBEB

/LJDomRHOpFWULFDILJ 

7FSJGJRVF TF B WPMUBHFN F B QPUªODJB EP BQBSFMIP T£P DPNQBUWFJT

"TQMBDBTEFDP[FEVSBT£PGPSOFDJEBTDPNVNDBCPEF

BMJNFOUB§£PDPNPVTFNGJDIB

0TBQBSFMIPTGPSOFDJEPTDPNGJDIBT³EFWFNTFSMJHBEPTB

UPNBEBTEFUFSSBEFWJEBNFOUFJOTUBMBEBT

%FWFQSFWFSTFVNJOUFSSVQUPSPNOJQPMBSDPNVNBBCFSUVSBEF

DPOUBDUP NOJNB EF  NN FYDFQUP FN MJHB§µFT DPN GJDIB TF FTUB

FTUJWFSBDFTTWFMBPVUJMJ[BEPS

GB[ªMP%FWFTFNQSFSFTQFJUBSTFBTFD§£PNOJNBFPUJQPEF

DBCP

0XGDQoDGRWLSRGHJiV

4F BT SFHVMBNFOUB§µFT EP QBT P QFSNJUJSFN FTUF BQBSFMIP QPEF

TFSBEBQUBEPBPVUSPTUJQPTEFH¡TWFSQMBDBEFDBSBDUFSTUJDBT

"TQF§BTOFDFTT¡SJBTQBSBUBMFTU£PJODMVEBTOPTBDPEF

USBOTGPSNB§£PGPSOFDJEPDPOTPBOUFPNPEFMPPVEJTQPOWFJTOP

TFHVJOUFT

$6XEVWLWXLomRGRVLQMHFWRUHVILJ 

 3FUJSFBTHSFMIBTBTUBNQBTEFRVFJNBEPSFPTEJGVTPSFT

 4VCTUJUVBPTJOKFDUPSFTVTBOEPBDIBWFEJTQPOJCJMJ[BEBQFMP

QBSB RVFJNBEPSFT EF DIBNB EVQMB D³EJHP  WFS UBCFMB

**UFOEPFTQFDJBMBUFO§£PQBSBRVFPJOKFDUPSO£PTFTPMUFBP

SFUJS¡MPPVGJY¡MPBPRVFJNBEPS

"QFSUFCFNPTJOKFDUPSFTQBSBHBSBOUJSBFTUBORVFJEBEF

QSJN¡SJP

 $PMPRVFPTEJGVTPSFTFBTUBNQBTEPTRVFJNBEPSFTOPT

BTHSFMIBTOPTTFVTFMFNFOUPTEFGJYB§£PGJH B

%5HJXODomRGDVWRUQHLUDV

 $PMPRVFPTDPNBOEPTOBTVBQPTJ§£PNOJNB

 3FUJSFPTDPNBOEPTEBTUPSOFJSBT'JH 

&ODPOUSBS¡VNSFUFOUPSEFCPSSBDIBGMFYWFM#BTUBS¡QSFTTJPO¡

MP DPN B QPOUB EB DIBWF EF GFOEBT QBSB RVF TF MJCFSF P BDFTTP

BPQBSBGVTPEFSFHVMB§£PEBUPSOFJSB 1XQFDGHVPRQWHR

UHWHQWRU

VNBDIBWFEFGFOEBTEFQPOUBQMBOB

$POTPBOUF P H¡T BP RVBM WBJ BEBQUBS P BQBSFMIP WFS UBCFMB ***

FGFDUVFBBD§£PDPSSFTQPOEFOUF

"BQFSUBSCFNPTQBSBGVTPTCZQBTT

DPSSFDUBEPTRVFJNBEPSFTWFSJGJRVFTFBPBKVTUBSPDPNBOEP

FOUSFPN¡YJNPFPNOJNPPRVFJNBEPSO£PTFBQBHBOFN

PDPSSFVNSFUSPDFTTPEBDIBNB

BVUPSJ[BEP

%O£PNBOJQVMBSPTQBSBGVTPTCZQBTT

4FO£PFODPOUSBSPBDFTTPBPQBSBGVTPCZQBTTEFTNPOUFB

QJOHBEFJSBRVFFTU¡GJYBOBQBSUFSFTUBOUFEBQMBDBEFDP[FEVSB

QPSVNTJTUFNBEFQBSBGVTPT1BSBSFNPWªMBQSPDFEBEP

TFHVJOUFNPEP

 3FNPWB UPEBT BT HSFMIBT UBNQBT EPT RVFJNBEPSFT EJGVTPSFT F

DPNBOEPT

 %FTBQFSUFPTQBSBGVTPTEPTRVFJNBEPSFT

 1BSB WPMUBS B NPOUBS P BQBSFMIP QSPDFEB EF NPEP JOWFSTP BP EB

EFTNPOUBHFN

JNQPSUBOUFRVFFTUFKBNDPMPDBEPT WRGRV PTSFUFOUPSFTQBSB

HBSBOUJS B FTUBORVFJEBEF &TUFT EJTQPTJUJWPT T£P JNQSFTDJOEWFJT

QBSBPDPSSFDUPGVODJPOBNFOUPEPBQBSFMIPK¡RVFJNQFEFNB

FOUSBEBEFMRVJEPFBGPSNB§£PEFTVKJEBEFOPJOUFSJPSEP

BQBSFMIP

/VODBEFTNPOUFPFJYPEBUPSOFJSB'JH &NDBTPEFBWBSJB

EFWFTVCTUJUVJSTFUPEPPDPOKVOUPEBUPSOFJSB

$WHQomR

"P UFSNJOBS DPMPRVF B FUJRVFUB BEFTJWB JOEJDBOEP P OPWP UJQP EF

H¡TQS³YJNPEBQMBDBEFDBSBDUFSTUJDBT

 

,,,

* * * * * * * * *

* ''' ' $$& $

* ''''$$&$

* '' ' ' $$& $

* ''' ' $$& $

* '''' $$& $

* %%%% % '& '

* %%%% % ' & '

* &&&& & && &

* %%%% % ''&

*$6 PEDU

4Q

PK JK 4UN:

*      

 



*        



*        

*        

*        

*        

*        

*     



 



*        

*     



 



*     



 



*     



 



*     





 



*     





 



*     



 



*     



 



*     





 



*     





 



*     



 



*     



 



*     



 



*        



*        

*     



 



*     



 



*     





 



*     





 



* 

 



   

* 

 



   

* 



 



 



  



* 



 

 



  

* 



 

 





 



* 

 

 

  

* 

 







 



* 



 



 



  



* 



 



 



  



N:

Bosch Gas Hob User manual

Bosch Gas Hob User manual

Related papers

Other documents