532649

Telekom Sinus 45 K Handleiding

147
Verklein
Vergroot
Pagina terug
1/152
Pagina verder
'DV+DQGJHUlW6LQXV.
'DVVFKQXUORVH.RPIRUWKDQGJHUlWGHU
6LQXV5HLKH
'LH6LQXV)DPLOLHELHWHWIUMHGH
$QIRUGHUXQJGLHRSWLPDOH/|VXQJ
'HXWVF KH
7HOHNRP

6LFKHUKHLWVKLQZHLVH

%HDFKWHQ6LHYRU,QEHWULHEQDKPHGHV+DQGJHUlWHVXQEHGLQJWGLHIROJHQGHQ
+LQZHLVH
■
:LFKWLJH+LQZHLVH]XP*HEUDXFKGHU$NNXVILQGHQ6LHLP$QKDQJVLHKH
6HLWH
■
/HJHQ6LHGDV+DQGJHUlWQLFKW
² LQGLH1lKHYRQ:lUPHTXHOOHQ
² LQGLUHNWH6RQQHQHLQVWUDKOXQJ
² LQGLH1lKHYRQDQGHUHQHOHNWULVFKHQ*HUlWHQ
■
6FKW]HQ6LH,KU+DQGJHUlWYRU1lVVH6WDXEDJJUHVVLYHQ)OVVLJNHLWHQ
XQG'lPSIHQ
■
'LH)RUVFKXQJKDWJH]HLJWGDVVLQEHVWLPPWHQ)lOOHQPHGL]LQLVFKH*HUlWH
GXUFKHLQJHVFKDOWHWH+DQGJHUlWH'(&7EHHLQIOXVVWZHUGHQN|QQHQ
+DOWHQ6LHGHVKDOEEHLGHU9HUZHQGXQJYRQ+DQGJHUlWHQLQQHUKDOE
PHGL]LQLVFKHU(LQULFKWXQJHQGLH%HVWLPPXQJHQGHUMHZHLOLJHQ,QVWLWXWH
HLQ
■
1LHPDOV
² GDV+DQGJHUlWVHOEVW|IIQHQ
² 6WHFNNRQWDNWHPLWVSLW]HQXQGPHWDOOLVFKHQ*HJHQVWlQGHQEHUKUHQ
5HLQLJHQ6LH,KU+DQGJHUlWQXUPLWHLQHPOHLFKWIHXFKWHQ7XFK
■
%HQXW]HQ6LH,KU+DQGJHUlWQLFKWLQ)HXFKWUlXPHQ]%%DGRGHULQ
H[SORVLRQVJHIlKUGHWHQ%HUHLFKHQ
■
7UlJHUYRQ+|UJHUlWHQVROOWHQYRU1XW]XQJGHV+DQGJHUlWHVEHDFKWHQ
GDVV)XQNVLJQDOHLQ+|UJHUlWHHLQNRSSHOQXQGEHLDXVUHLFKHQGHU6WlUNH
HLQHQXQDQJHQHKPHQ%UXPPWRQYHUXUVDFKHQN|QQHQ

7DVWHQEHOHJXQJGHV+DQGJHUlWV
0HQ7DVWHQ =LIIHUQ=HLFKHQEORFN
?
0HQWDVWH]XPgIIQHQGHV0HQV

=LIIHUQ7DVWHQ]XU(LQJDEHYRQ
5XIQXPPHUQXQGDOSKDQXPHUL
VFKHQ(LQWUlJHQ9DQLW\5XIQXP
PHUQ
6RIWWDVWHQ]XP=XJULIIDXIZHFKVHOQ
GH)XQNWLRQHQGLHEHUGHQ7DVWHQ
LP'LVSOD\DQJH]HLJWZHUGHQ
'UFNHQXP]ZLVFKHQ.OHLQ
*URRGHU*UR.OHLQEXFKVWD
EHQ]XZHFKVHOQ
%HLP7HOHIRQLHUHQ71HWVWHX
HUQ
:lKUHQGGHV/lXWHQVDP+DQG
JHUlW/DQJHU'UXFN 5XIDXV
-
7HOHIRQEXFK7DVWH]XP:lKOHQ
RGHU%HDUEHLWHQYRQ7HOHIRQEXFK
HLQWUlJHQ
'UFNHQJJIPHKUPDOVXPEHL
HLQHP$OSKDHLQWUDJ/HHU]HLFKHQ
RGHU6RQGHU]HLFKHQHLQ]XIJHQ
@
77DVWHZLFKWLJH5XIQXPPHUQGHU
'HXWVFKHQ7HOHNRP
5DXWH7DVWH]XU(LQJDEHGHV
5DXWH=HLFKHQVNXU]HU'UXFN
/DQJHU'UXFN6FKXW]]XVWDQG
GHU7DVWHQJHJHQXQEHDEVLFKWLJ
WHV%HWlWLJHQ%HLP7HOHIRQLHUHQ
71HWVWHXHUQ
9HUELQGXQJVDXIEDXXQGDEEDX :HLWHUH7DVWHQ
D
$EQHKPHQ7DVWHHQWVSULFKWª+|UHU
DEKHEHQ©DQHLQHP7LVFKJHUlW
4
57DVWHZLUGEHL71HWXQG7HOH
IRQDQODJHQEHQXW]W
/DQJGUFNHQ:DKOSDXVHHLQI
JHQEHL5XIQXPPHUQHLQJDEH
B
$XIOHJHQ7DVWHHQWVSULFKWª+|UHU
DXIOHJHQ©DQHLQHP7LVFKJHUlW
+DQGJHUlW$XV(LQVFKDOWHQ
$EEUXFKHLQHU3UR]HGXU
V
/DXWVSUHFKHU7DVWH]XP)UHL
VSUHFKHQ
6LJQDOLVLHUWDQVWHKHQGHQ5XI
EOLQNW
'LVSOD\
6RIWWDVWHQ
=LIIHUQEORFN
$XIOHJHQWDVWH
0HQWDVWH
$EQHKPHQWDVWH
/DXWVSUHFKHU7DVWH
7HOHNRP7DVWH
57DVWH)ODVK3DXVH
7HOHIRQEXFK7DVWH
+|UHU
0LNURIRQ

,QKDOWVYHU]HLFKQLV
$OOJHPHLQ
1XW]XQJVVFKHPD
'LVSOD\DQ]HLJHQ
6RIWWDVWHQV\PEROH6\PEROHLP'LVSOD\ 
,Q%HWULHEQHKPHQ
+DQGJHUlWDXVSDFNHQ  
'LVSOD\6FKXW]IROLHHQWIHUQHQ  
$NNXVHLQOHJHQXQGODGHQ 
+DQGJHUlWHLQDXVVFKDOWHQ
7DVWHQVFKXW]HLQDXVVFKDOWHQ 
7HOHIRQLHUHQ
,QWHUQHXQGH[WHUQH5XIQXPPHUQZlKOHQ
$QUXIDQQHKPHQ
:DKOZLHGHUKROXQJ
$XVGHP7HOHIRQEXFKZlKOHQ
7HOHIRQEXFK5XIQXPPHUQXQG1DPHQYHUZDOWHQ
7HOHIRQEXFKHLQWUlJHDXIDQGHUH+DQGJHUlWH.RPIRUWWHOHIRQEHUWUDJHQ
$XVGHU77DVWH/LVWHZlKOHQ
+|UHU/DXWVWlUNHYHUlQGHUQ
)UHLVSUHFKHQ
*HVSUlFKLQWHUQZHLWHUJHEHQ 
6LFKHUKHLW
9RUDXVVHW]XQJ3,1lQGHUQ 
7HOHIRQVSHUUH'LUHNWUXI 
.RVWHQNRQWUROOLHUHQ
'DXHU.RVWHQ$Q]HLJHZlKUHQGGHV*HVSUlFKV 
+DQGJHUlWHLQVWHOOHQ
6SUDFKHIHVWOHJHQ 
$XWRP5XIDQQDKPHHLQDXVVFKDOWHQ
+|UHU/DXWVWlUNHHLQVWHOOHQ
 ,9=
+J6LQXV.$*$
5XIWRQ/DXWVWlUNHHLQVWHOOHQ
5XIWRQ0HORGLHIHVWOHJHQ 
$XIPHUNVDPNHLWVWRQHLQVWHOOHQ   
+LQZHLVW|QHHLQDXVVFKDOWHQ
%DE\SKRQ
*HUlWH0DNURV 
6WDWLRQVDXVZDKO:HFKVHOQ]XHLQHUDQGHUHQ6WDWLRQ 
6WDWLRQVQDPHQlQGHUQ
)XQNWLRQHQGHU77DVWHIHVWOHJHQ
0HKU]HOOHQNRQILJXUDWLRQ3DUNIlKLJNHLWHLQVWHOOHQ 
6WDWLRQV(LQVWHOOXQJHQ
/LHIHU]XVWDQGZLHGHUKHUVWHOOHQ
6LQXV$%
,Q%HWULHEQHKPHQ
+DQGJHUlWDQDEPHOGHQ
7HOHIRQLHUHQ
$XVGHU$QUXIHUOLVWHZlKOHQ  
,QWHUQHU6DPPHOUXI
5FNUXIEHL%HVHW]W
*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLWK|UHQODVVHQ
7HOHIRQLHUHQPLW0HKUHUHQ
:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ   
=ZHLWHV*HVSUlFKZlKUHQGHLQHV*HVSUlFKVDQQHKPHQDEZHLVHQ
*HVSUlFKLQWHUQZHLWHUJHEHQ 
6LQXV$%
7HOHIRQLHUHQ
*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
*HVSUlFKDQGHU)HVWVWDWLRQPLWK|UHQODVVHQ  
$QUXIEHDQWZRUWHU
1DFKULFKWHQDEK|UHQ
1DFKULFKWHQDQ]HLJHXQG5XIQXPPHUZlKOHQVSHLFKHUQ
(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ 
6LQXV33$
,Q%HWULHEQHKPHQ
+DQGJHUlWDQDEPHOGHQ
7HOHIRQLHUHQ
,QWHUQH5XIQXPPHUZlKOHQ
5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
5FNUXIEHL%HVHW]WDNWLYLHUHQ
*HVSUlFKDP.RPIRUWWHOHIRQPLWK|UHQODVVHQ
$QRQ\P$QUXIHQ&/,5
5DXPK|UHQRGHU*HJHQVSUHFKHQ
71HW)XQNWLRQHQHLQDXVVFKDOWHQ
7HOHIRQLHUHQPLW0HKUHUHQ
:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ   
=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHK PHQDEZHLVHQ
0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
*HVSUlFKZHLWHUJHEHQ
6LQXV3$
$QUXIEHDQWZRUWHU
*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
1DFKULFKWHQDEK|UHQ
(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ 
6LQXV3LVGQ3$LVGQ
,Q%HWULHEQHKPHQ
+DQGJHUlWDQDEPHOGHQ
7HOHIRQLHUHQ
,QWHUQH5XIQXPPHUZlKOHQ
5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
5FNUXIEHL%HVHW]WDNWLYLHUHQ
*HVSUlFKDP.RPIRUWWHOHIRQPLWK|UHQODVVHQ
$QRQ\P$QUXIHQ&/,5
5DXPK|UHQRGHU*HJHQVSUHFKHQ
7HOHIRQLHUHQ,6'1
(LJHQH5XIQXPPHU061IUQlFKVWHV*HVSUlFKIHVWOHJHQ
 ,9=
+J6LQXV.$*$
$QUXIZHLWHUOHLWHQ
.H\SDGWHPSRUlU
*HVSUlFKSDUNHQ
7HOHIRQLHUHQPLW0HKUHUHQ
:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ   
=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHK PHQDEZHLVHQ
0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
*HVSUlFKZHLWHUJHEHQ 
6LQXV3$LVGQ
$QUXIEHDQWZRUWHU
*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
$XI]HLFKQXQJHQDEK|UHQ 
(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ 
6LQXVLVGQ
,Q%HWULHEQHKPHQ
+DQGJHUlWDQDEPHOGHQ
7HOHIRQLHUHQ
,QWHUQH5XIQXPPHUZlKOHQ
5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
5FNUXIEHL%HVHW]WDNWLYLHUHQ
$QRQ\P$QUXIHQ&/,5 
7HOHIRQLHUHQ,6'1
(LJHQH5XIQXPPHU061IUQlFKVWHV*HVSUlFKIHVWOHJHQ
$QUXIZHLWHUOHLWHQ
.H\SDG
*HVSUlFKSDUNHQ
)DQJVFKDOWXQJ
7HOHIRQLHUHQPLW0HKUHUHQ
:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ   
=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHK PHQDEZHLVHQ
0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
*HVSUlFKZHLWHUJHEHQ 
$OOJHPHLQ
$QKDQJ
/LHIHU]XVWDQG 
:LFKWLJH+LQZHLVH]XP*HEUDXFKGHU$NNXV 
6HOEVWKLOIHEHL6W|UXQJHQ
6HUYLFH
*DUDQWLHHUNOlUXQJ
&(=HLFKHQ
5HF\FOLQJ
7HFKQLVFKH'DWHQ
.XU]EHGLHQXQJVDQOHLWXQJ 
4XLFNUHIHUHQFHJXLGH
.XOODQPD.LODYX]X
6WLFKZRUWYHU]HLFKQLV

1XW]XQJVVFKHPD
'LH)XQNWLRQHQGHU6RIWWDVWHQZHUGHQLQGHUXQWHUHQ'LVSOD\]HLOHGDUJHVWHOOW
:lKUHQG6LHGDV7HOHIRQEHQXW]HQlQGHUQVLFK$Q]HLJHXQG)XQNWLRQGHU6RIW
WDVWHQ0LWGHUUHFKWHQRGHUOLQNHQ6HLWHGHU6RIWWDVWHQZlKOHQ6LHGLHDQJH
]HLJWH)XQNWLRQDXV2IWIKUWHLQ0HQSXQNW]XHLQHU/LVWHZHLWHUHU2SWLRQHQ
'HUHUVWH(LQWUDJGHU/LVWHZLUGLQQHJDWLYHU6FKULIWGDUJHVWHOOWXQGNDQQPLWGHU
2.6RIWWDVWHJH|IIQHWZHUGHQ0LWGHU:HLWHUXQG=XUFN7DVWH
;<
EHZH
JHQ6LHVLFKLQQHUKDOEHLQHU0HQOLVWH
*HEHQ6LH1XPPHUQRGHU1DPHQHLQN|QQHQ6LHPLWGHU
:
6RIWWDVWHGDV
]XOHW]WHLQJHJHEHQH=HLFKHQO|VFKHQ+DOWHQ6LHGLH6RIWWDVWHOlQJHUJHGUFNW
O|VFKHQ6LH1XPPHUQRGHU1DPHQYROOVWlQGLJ0LWGHQ
6RIWWDVWHQ
EHZHJHQ6LHGHQ&XUVRULQQHUKDOEGHU(LQJDEH]HLOH
%HWlWLJHQ6LHGLH$XIOHJHQ7DVWHYHUODVVHQ6LHGDV0HQRKQH6SHLFKHUQGHU
(LQJDEH
:HLWHUH)XQNWLRQHQZLHGDV7HOHIRQEXFKRGHUGLH7HOHNRP/LVWHHUUHLFKHQ6LH
GLUHNWEHUHLJHQH7DVWHQ
%XFKVWDEHQXQG=LIIHUQHLQJHEHQ
$Q,KUHP+DQGJHUlWN|QQHQ6LH%XFKVWDEHQXQG=LIIHUQHLQJHEHQ$EKlQJLJ
YRQGHUMHZHLOLJHQ)XQNWLRQN|QQHQ6LHGLH=LIIHUQIUHL]%LP7HOHIRQEXFKRGHU
]XU:DKORGHUDQYRUJHJHEHQHQ3RVLWLRQHQ]%3,1HLQJHEHQ:HQQ6LH]%
LP7HOHIRQEXFK%XFKVWDEHQIU1DPHQHLQJHEHQPVVHQZLUGGLH7DVWDWXU,K
UHV7HOHIRQVDXWRPDWLVFKDXIGHQ%XFKVWDEHQPRGXVXPJHVFKDOWHW
=LIIHUQDQPDUNLHUWHQ3RVLWLRQHQHLQJHEHQ
'LH3RVLWLRQHQDQGHQHQ6LH=LIIHUQHLQJHEHQN|QQHQVLQGGXUFKGHQ&XUVRU
YRUJHJHEHQ
:HQQ6LHEHLVSLHOZHLVHGLH3,1GHV+DQGJHUlWVHLQJHEHQVHKHQ6LHDXIGHP
'LVSOD\IROJHQGHV%LOG
1DFK(LQJDEHGHUHUVWHQ=LIIHUZLUGHLQ
DQJH]HLJWXQGGHU&XUVRUVSULQJWDXWR
PDWLVFKZHLWHULQVQlFKVWH)HOG:HQQ6LHHLQHIDOVFKH=LIIHUHLQJHJHEHQKDEHQ
N|QQHQ6LH,KUH(LQJDEHPLWGHU6RIWWDVWH
:
YRQUHFKWVQDFKOLQNVO|VFKHQXQG
GLHULFKWLJH=LIIHUHLQJHEHQ
!)#!!)
:=
! <7;
DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
%XFKVWDEHQ=LIIHUQIUHLHLQJHEHQ
%XFKVWDEHQ]%1DPHQLP7HOHIRQEXFKN|QQHQ6LHIUHLHLQJHEHQ:HQQ6LH
EHLVSLHOZHLVHLP7HOHIRQEXFKHLQHQHXHQ1DPHQHLQJHEHQP|FKWHQZHUGHQ
ZlKUHQGGHU7DVWHQEHWlWLJXQJ]%=LIIHUQWDVWHDOOHYRUKDQGHQHQ=HLFKHQXQ
WHQLP'LVSOD\DQJH]HLJWXQG6LHN|QQHQEHLP(UUHLFKHQGHVJHZQVFKWHQ
%XFKVWDEHQQLFKWVFKZDU]XQWHUOHJW]%HGLH7DVWHORVODVVHQ
0LWGHU(LQJDEHGHUHUVWHQ=LIIHUlQGHUWVLFKGLH'DUVWHOOXQJ
)DOVFKH(LQJDEHQN|QQHQ6LHPLWGHU
:
6RIWWDVWHYRQUHFKWVQDFKOLQNVO|
VFKHQ0LWGHQ
6RIWWDVWHQNDQQGHU&XUVRUEHOLHELJSRVLWLRQLHUWZHU
GHQ9RQGLHVHU3RVLWLRQDXVN|QQHQ6LHPLWGHU
:
6RIWWDVWH=LIIHUQO|VFKHQ
RGHUGDYRU=LIIHUQHLQIJHQ0LWGHQ
<;
6RIWWDVWHQVSULQJHQ6LHLQGLHDQ
GHUHQ=HLOH
7DVWDWXUEHOHJXQJEHL%XFKVWDEHQHLQJDEH
'LH7DVWHQGHU=LIIHUQWDVWDWXUVLQGIROJHQGHUPDHQEHOHJW
7DVWH 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN
D$ E% F& lb j kÇ m® od
G' H( I) sÊ pe qË rÈ
J* K+ L, wÎ vÍ
M- N. O/
P0 Q1 R2 |g xf yÐ {Ñ }¯
S3 T4 U5 V6
W7 X8 Y9 h ~Ô Ö Õ
Z: [; \< ]= ìë  ¡ nc
/HHUVWHOOH
²
"
D!$$!D
#

;.((!,
4.-!
ÖGHI«ª¬
; :8
4.-! !))*

'LVSOD\DQ]HLJHQ
,P5XKH]XVWDQG
²^)HOGVWlUNHDQ]HLJH]XU)HVWVWDWLRQ
²
7
$Q]HLJHGHV$NNXODGH]XVWDQGV
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWHQ
,P0HQ
² 0HQ3XQNWGHUPLW2.JH|IIQHWZHUGHQNDQQ
² 0HQ3XQNWGHUPLWGHU6RIWWDVWH
<
HUUHLFKWZLUG
² 0HQ(QGH´µ
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWHQ
,P(LQJDEHPRGXV
² (LQJDEHYRQ%XFKVWDEHQXQG=LIIHUQ'LH
:
6RIWWDVWH
O|VFKWQDFKGHU(LQJDEHGHVHUVWHQ=HLFKHQV]HLFKHQZHLVH
YRQUHFKWVQDFKOLQNV
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWHQ
%HLPH[WHUQHQ$QUXI
]%DP6LQXV
² 'LH5XIQXPPHUGHV$QUXIHUVZHQQ5XIQXPPHUQDQ]HLJH
&/,3EHDXIWUDJWXQG1XPPHUEHUWUDJHQZXUGHVRQVWª5XI
YRQ([WHUQ©
² 6\PEROIUGHQ5XI
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWH
%HLPLQWHUQHQ$QUXI
]%DP6LQXV
² 1XPPHUGHVLQWHUQHQ$QUXIHUV
² 6\PEROIUGHQ5XI
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWH
1DFK$QQDKPHHLQHV$QUXIV
]%DP6LQXV
² ([WHUQJHVSlFKRGHUEHL,QWHUQJHVSUlFKª,17(51©UHFKWV
² 'LH5XIQXPPHUGHV$QUXIHUVZHQQ5XIQXPPHUDQ]HLJH
&/,3EHDXIWUDJWXQG1XPPHUEHUWUDJHQZXUGHDQGHUQIDOOV
ª©RGHUEHL,QWHUQJHVSUlFK,QWHUQ1U]%ª©GHVLQWHUQHQ
$QUXIHUV
² $NWXHOOH%HGHXWXQJGHU6RIWWDVWHQ
?*) 
K7
\
7
?!,/!
RRRRRRRRRRRRRRRR
;<
C1
2$*)R)-N
;.((!,
< :
8
4.- 
GG
7:+ &:8
>." /*) 7)!,) 
7:+ &:8
GG
6% K7
D@>;
DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

6RIWWDVWHQV\PEROH6\PEROHLP'LVSOD\
6RIWWDVWHQV\PEROH 6\PEROH
77DVWHQ/LVWH|IIQHQ
$NNXOHHU:DUQWRQ
U
0HQIU71HW/HLVWXQJVPHUNPDOH
QXU6LQXV$%
$NNXYROO%OLQNWZlKUHQG
GHV/DGHYRUJDQJHV
+
,QWHUQYHUELQGXQJDNWLYLHUHQ
*HVSUlFKKDOWHQ
$NNXYROO%OLQNWZlKUHQG
GHV/DGHYRUJDQJHV
[
:DKOZLHGHUKROXQJVOLVWH|IIQHQ
$NNXYROO
,
$QUXIHU$QUXIEHDQWZRUWHUOLVWH|II
QHQ
^
)HOGVWlUNHDQ]HLJHNHLQHRGHU
QXUJHULQJH
<
6SULQJHQ]XPQlFKVWHQ0HQ
3XQNW
]
)HOGVWlUNHDQ]HLJHPLWWOHUH
;
=XUFNVSULQJHQ]XPYRUKHULJHQ
0HQ3XQNW
\
)HOGVWlUNHDQ]HLJHKRKH
\
=XUFN]XPYRUKHULJHQ0HQ 6SHUU6\PERO
=
$XIUXIHQHLQHV0HQ3XQNWHV
%HVWlWLJXQJGHU(LQJDEHQ(LQVWHO
OXQJHQ]XP6SHLFKHUQ
5XIWRQDXV
:
6WHOOHQZHLVH]XUFNVSULQJHQXQGO|
VFKHQZlKUHQGHLQHU(LQJDEH
6WXIHQHLQVWHOOXQJHQ]%

&XUVRUVWHXHUXQJQDFKOLQNV
)U(LQVWHOOXQJHQ]%5XIWRQ
&UHVFHQGR5XIWRQ
&XUVRUVWHXHUXQJQDFKUHFKWV
)U(LQVWHOOXQJHQ]%5XIWRQ
0HORGLH6WXIH
N
gIIQHQGHV8QWHUPHQV
)U6\VWHPHLQVWHOOXQJHQ(UVDW]IU
GLH37DVWHGHV+DQGJHUlWHV6LQXV
6
7H[WIU)XQNWLRQ
8*9
<*.9*7


,Q%HWULHEQHKPHQ

+DQGJHUlWDXVSDFNHQ
$XVSDFNHQ
,QGHU9HUSDFNXQJVLQGHQWKDOWHQ
■
+DQGJHUlW
■
7UDJHFOLS
■
=ZHL$NNXV
■
%HGLHQXQJVDQOHLWXQJPLW.XU]EHGLHQXQJVDQOHLWXQJ'HXWVFK(QJOLVFKXQG
7UNLVFK

'LVSOD\6FKXW]IROLHHQWIHUQHQ
=XP6FKXW]GHV'LVSOD\VJHJHQ.UDW]HULVWHLQH)ROLHDXIJHEUDFKW
'LHVH)ROLHHQWIHUQHQ6LHLQGHP6LHDQHLQHU(FNHGLH)ROLHO|VHQXQGDQVFKOLHV
VHQGDE]LHKHQ

$NNXVHLQOHJHQXQGODGHQ
1XUQDFK(UVWODGXQJGHU$NNXVLVW,KU+DQGJHUlWEHWULHEVEHUHLWN|QQHQ$QUXIH
DQJHQRPPHQZHUGHQE]ZNDQQYRQGLHVHP+DQGJHUlWDXVWHOHIRQLHUWZHUGHQ
$NNXVHLQOHJHQ
$XIGHU8QWHUVHLWHGHV+DQGJHUlWVEHILQGHWVLFKHLQ$NNXIDFKIUGLH$XIQDKPH
YRQ]ZHL$NNXVGHU%DXIRUP$$0LJQRQ]HOOHQ

:LFKWLJH+LQZHLVH]XP8PJDQJPLW$NNXVILQGHQ6LHLP$QKDQJ
VLHKH6HLWH

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$EQHKPHQGHV$NNXIDFKGHFNHOV
$NNXIDFKGHFNHOQDFKXQWHQVFKLHEHQFDPPXQGGHQ'HFNHOQDFKREHQ
DEKHEHQ
(LQOHJHQGHUEHLGHQ$NNXV3ROXQJEHDFKWHQ
/HJHQ6LHGLH$NNXVLQV$NNXIDFK
$FKWHQ6LHDXIGLHULFKWLJH
²3ROXQJGHU$NNXV'LH
²$QJDEHQLP$NNXIDFK
PVVHQPLWGHQ
²$QJDEHQDXIGHQ$NNXVEHUHLQVWLPPHQ
%HLIDOVFKHLQJHOHJWHQ$NNXVLVWGDV+DQGJHUlWQLFKWIXQNWLRQVIlKLJ%HVFKlGL
JXQJHQVLQGQLFKWDXV]XVFKOLHHQ
$QVFKOLHHQGOHJHQ6LHGHQ$NNXIDFKGHFNHOHWZDPPQDFKXQWHQYHUVHW]WDXI
XQGVFKLHEHQLKQQDFKREHQELVHUHLQUDVWHW
$NNXVODGHQ
:HQQ6LHGDV*HUlWDXVJHSDFNWKDEHQVLQGGLH$NNXVQRFKQLFKWJHODGHQ=XP
$XIODGHQVWHOOHQ6LHGDV+DQGJHUlWLQGLH)HVWVWDWLRQRGHULQGLH/DGHVWDWLRQ
QLFKWLP/LHIHUXPIDQJHQWKDOWHQ'DVEOLQNHQGH$NNXV\PEROLP+DQGJHUlW
VLJQDOLVLHUWGHQ/DGHYRUJDQJ'LH/DGH]HLWGHU$NNXVEHWUlJWFD6WXQGHQ
'HQ/DGH]XVWDQGHUNHQQHQ6LHDQIROJHQGHQ$Q]HLJHQLP'LVSOD\GHV+DQGJH
UlWV
/DGH]XVWDQGªOHHU©
/DGH]XVWDQGª©
/DGH]XVWDQGª©
/DGH]XVWDQGªYROO©
$NNXIDFKGHFNHO
5FNVHLWH

1DFK1HXHLQOHJHQYRQ$NNXVHQWVSULFKWGLH$Q]HLJHYROOGHPWDWVlFK
OLFKHQ$NNX/DGH]XVWDQGHUVWQDFKHLQHPNRPSOHWWHQ/DGH(QWODGH9RUJDQJ
LP+DQGJHUlW
1HXH$NNXVHUUHLFKHQLKUHYROOH.DSD]LWlWHUVWQDFKHLQLJHQ/DGH(QWODGH9RU
JlQJHQ
,KU+DQGJHUlWLVWMHW]WEHUHLW]XP$QPHOGHQ
0RQWDJHGHV7UDJHFOLSV
'HUPLWJHOLHIHUWH&OLSZLUGDXIGLH+DQGJHUlWH5FNVHLWHPLWGHP.OHPPEJHO
QDFKXQWHQDXIJHVHW]W'D]XEHILQGHQVLFKVHLWOLFKEHUGHP'LVSOD\V]ZHL
NOHLQH/|FKHU6HW]HQ6LHGHQ&OLSDQHLQHP/RFKDQXQGUDVWHQ6LHLKQLP
JHJHQEHUOLHJHQGHQ/RFKHLQ
$EPHOGHQ
'DV$EPHOGHQIKUHQ6LHHQWVSUHFKHQGGHU%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQ
GXUFK

1XU1L&G1L0+$NNXVQLHPDOV%DWWHULHQ3ULPlU]HOOHQYHUZHQGHQ
infobox
6LHN|QQHQ,KU+DQGJHUlWQDFKMHGHP*HVSUlFKZLHGHULQGLH/DGH
)HVWVWDWLRQOHJHQ'DV/DGHJHUlWZLUGHOHNWURQLVFKJHVWHXHUWGDPLWGLH$NNXV
LQGHQXQWHUVFKLHGOLFKVWHQ/DGH]XVWlQGHQRSWLPDOXQGVFKRQHQGJHODGHQ
ZHUGHQ9HUPHLGHQ6LHGLH$NNXVRKQHEHVRQGHUHQ*UXQGDXVGHP+DQGJH
UlWKHUDXV]XQHKPHQGDGDGXUFKGHURSWLPDOH/DGHYRUJDQJEHHLQWUlFKWLJW
ZLUG
'LH.DSD]LWlWGHUHLQJHVHW]WHQ$NNXVNDQQYHUEHVVHUWZHUGHQZHQQQDFKOlQ
JHUHU1XW]XQJVGDXHUGLH$NNXVLP+DQGJHUlWYROOVWlQGLJ
HQWODGHQXQGDQ
VFKOLHHQGZLHGHUYROO
DXIJHODGHQZHUGHQ
infobox
%HLYROODXIJHODGHQHQ$NNXVN|QQHQ6LHELV]X]HKQ6WXQGHQWHOHIRQLHUHQ
:HQQGLH/DGXQJGHU$NNXVGLHXQWHUH*UHQ]HHUUHLFKWKDWEOLQNWGDV$NNX
:DUQV\PERODXIGHP'LVSOD\XQG6LHK|UHQGHQ$NNX:DUQWRQIDOOV
$NNX:DUQWRQHLQJHVFKDOWHW6LHKDEHQQRFKFLUFD0LQXWHQ*HVSUlFKV
]HLW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

+DQGJHUlWHLQDXVVFKDOWHQ
,KU+DQGJHUlWLVWQDFKGHU(UVWODGXQJGHU$NNXVDXWRPDWLVFKHLQJHVFKDOWHWXQG
EHWULHEVEHUHLW6LHN|QQHQ,KU+DQGJHUlWDXVVFKDOWHQXPGLH.DSD]LWlW,KUHU$N
NXVOlQJHU]XHUKDOWHQ
+DQGJHUlWDXVVFKDOWHQ
+DQGJHUlWHLQVFKDOWHQ
B
$XIOHJHQ7DVWHODQJGUFNHQ
infobox
(LQJHKHQGH$QUXIHZHUGHQDXFKEHLDXVJHVFKDOWHWHP+DQGJHUlWDQGHU
)HVWVWDWLRQVLJQDOLVLHUW'DEHLGDUIGHU5XIWRQDQGHU)HVWVWDWLRQQLFKWDXVJH
VFKDOWHWVHLQ8PHLQHQ$QUXIHQWJHJHQ]XQHKPHQPVVHQ6LHGDV+DQGJHUlW
HUVWHLQVFKDOWHQVLHKHXQWHQ
B
$XIOHJHQ7DVWHGUFNHQ
infobox
,KU+DQGJHUlWZLUGDXWRPDWLVFKZLHGHUHLQJHVFKDOWHWZHQQ6LHHVLQGLH
)HVWVWDWLRQRGHULQHLQH/DGHVWDWLRQOHJHQ


7DVWHQVFKXW]HLQDXVVFKDOWHQ
:HQQ6LHHLQ+DQGJHUlWLQGHU7DVFKHPLWVLFKWUDJHQVFKDOWHQ6LHGHQ7DVWHQ
VFKXW]HLQ'DPLWYHUKLQGHUQ6LHGDVVYHUVHKHQWOLFKHLQH5XIQXPPHUJHZlKOW
ZLUG
(UKDOWHQ6LHHLQHQ$QUXIZLUGGHU7DVWHQVFKXW]IUGLH'DXHUGHV$QUXIVDXIJH
KREHQ0LWGHU$QQHKPHQ7DVWHN|QQHQ6LHGHQ$QUXIHQWJHJHQQHKPHQ
,P/LHIHU]XVWDQGLVWGHU7DVWHQVFKXW]DXVJHVFKDOWHW
7DVWHQVFKXW]HLQVFKDOWHQ
7DVWHQVFKXW]DXVVFKDOWHQ
5DXWH7DVWHODQJGUFNHQ
infobox
6RODQJHGHU7DVWHQVFKXW]HLQJHVFKDOWHWLVWN|QQHQ6LHQLFKWDQUXIHQ
5DXWH7DVWHODQJGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQLHUHQ

,QWHUQHXQGH[WHUQH5XIQXPPHUQZlKOHQ
:HQQDQ,KUHU6WDWLRQPHKUHUH+DQGJHUlWHDQJHPHOGHWVLQGN|QQHQ6LHGLHDQ
GHUHQ+DQGJHUlWHEHUHLQHLQWHUQH5XIQXPPHUHUUHLFKHQ
,QWHUQH5XIQXPPHUZlKOHQ
([WHUQH5XIQXPPHUZlKOHQ
6RIWWDVWH
,17
GUFNHQ
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
B
=XP%HHQGHQGHV*HVSUlFKV$XIOHJHQ7DVWHGUFNHQ
infobox
6DPPHOUXIDQDOOHLQWHUQHQ7HLOQHKPHUJOHLFK]HLWLJ 7DVWH

D
$EQHKPHQ7DVWHGUFNHQ
(
*HZQVFKWHH[WHUQH5XIQXPPHUHLQJHEHQ
'LH5XIQXPPHUZLUGJHZlKOW
B
=XP%HHQGHQGHV*HVSUlFKV$XIOHJHQ7DVWHGUFNHQ
infobox
([WHUQH5XIQXPPHUQN|QQHQ6LHDXFKPLW:DKOYRUEHUHLWXQJZlKOHQ'D]XJH
EHQ6LH]XHUVWGLH5XIQXPPHUHLQNRUULJLHUHQVLHJJIPLW+LOIHGHU6RIWWDVWHQ
:


XQGGUFNHQGDQQGLH$EQHKPHQ7DVWHRGHULP8QWHUPHQ
N

1XPPHUZ¦KOHQ


$QUXIDQQHKPHQ
$QUXIHZHUGHQDNXVWLVFKDP+DQGJHUlWVLJQDOLVLHUW=XVlW]OLFKZHUGHQVLHDXI
GHP'LVSOD\GHV+DQGJHUlWVDQJH]HLJW
■
'LH5XIQXPPHUGHV$QUXIHUVZLUGDXIGHP'LVSOD\DQJH]HLJWZHQQ6LHEHL
GHU'HXWVFKHQ7HOHNRPGLH71HW)XQNWLRQ]XUhEHUWUDJXQJGHU
5XIQXPPHUGHV$QUXIHUV&/,3EHDXIWUDJWKDEHQ
■
'LH5XIQXPPHUZLUGQLFKWDQJH]HLJWZHQQGHU7HLOQHKPHUDQRQ\PDQUXIW
GKZHQQHUGLHhEHUWUDJXQJVHLQHU5XIQXPPHUQLFKW]XJHODVVHQKDW
+DQGJHUlWLQGHU)HVW/DGHVWDWLRQ
+DQGJHUlWDXHUKDOEGHU)HVW/DGHVWDWLRQ
+DQGJHUlWDXVGHU)HVW/DGHVWDWLRQHQWQHKPHQ
#
6LHIKUHQGDV*HVSUlFK
D
$EQHKPHQ7DVWHGUFNHQ
#
6LHIKUHQGDV*HVSUlFK
infobox
6LHN|QQHQ/DXWVWlUNHXQG0HORGLHGHV5XIWRQVHLQVWHOOHQVLHKH6HLWHXQG
6HLWH
$XFKZHQQ6LH,KU+DQGJHUlWOHLVHVWHOOHQRGHUGHQ5XIWRQDEVWHOOHQZLUGGHU
$QUXIDXIGHP'LVSOD\DQJH]HLJWVLHKH6HLWH

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

:DKOZLHGHUKROXQJ
,QGHU:DKOZLHGHUKROXQJVOLVWHZHUGHQGLHIQI]XOHW]WJHZlKOWHQXQWHUVFKLHGOL
FKHQ5XIQXPPHUQPD[6WHOOHQJHVSHLFKHUW
-HGHZHLWHUHJHZlKOWH5XIQXPPHUEHUVFKUHLEWGHQlOWHVWHQ(LQWUDJLQGHU/LVWH
6LHN|QQHQGLH5XIQXPPHUQSUIHQO|VFKHQlQGHUQRGHULQGHQ:DKOYRUEHUHL
WXQJVVSHLFKHUXQGGDV7HOHIRQEXFKEHUQHKPHQ
$XVGHU:DKOZLHGHUKROXQJVOLVWHZlKOHQ
LQ:DKOYRUEHUHLWXQJ

5XIQXPPHUQGHU:DKOZLHGHUKROXQJVOLVWHSUIHQO|VFKHQlQGHUQ
6RIWWDVWH
[
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH5XIQXPPHUDXVZlKOHQ
D
$EQHKPHQ7DVWHGUFNHQ
'LHDXVJHZlKOWH5XIQXPPHUZLUGJHZlKOW
infobox
1DFKZDKO
1DFK$XVZDKOHLQHU5XIQXPPHUGHU:DKOZLHGHUKROXQJVOLVWHN|Q
QHQVRIRUWZHLWHUH=LIIHUQPDQXHOORGHUDXVGHP7HOHIRQEXFKQDFKJHZlKOW
ZHUGHQ'LHJHlQGHUWH5XIQXPPHUZLUGQXQLQGLH:DKOZLHGHUKROXQJVOLVWH
EHUQRPPHQ
6RIWWDVWH
[
GUFNHQ
0LW6RIWWDVWHQ
<
;
5XIQXPPHUQGXUFKEOlWWHUQXQGDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
)U3UIHQ/|VFKHQbQGHUQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
(LQWUDJDQ]HLJHQ
6RIWWDVWH
=
GUFNHQ
*HVDPWH5XIQXPPHUZLUGDQJH]HLJW
RGHU /|VFKHQ

5XIQXPPHUQDXVGHU:DKOZLHGHUKROXQJVOLVWHLQGHQ
:DKOYRUEHUHLWXQJVVSHLFKHUEHUQHKPHQ
6LHN|QQHQ5XIQXPPHUQDXVYHUVFKLHGHQHQ6SHLFKHUQYRUGHU:DKO]XVDP
PHQVHW]HQXQGGLHVHLQGHQ:DKOYRUEHUHLWXQJVVSHLFKHUDEOHJHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJO¸VFKHQ
6RIWWDVWH
=
GUFNHQ
1XPPHULVWJHO|VFKW
RGHU
bQGHUQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
(LQWUDJ¦QGHUQ
6RIWWDVWH
=
GUFNHQ
(
0LW6RIWWDVWHQ
:
XQG=LIIHUQWDVWHQ=LIIHUQO|VFKHQRGHUHLQIJHQ
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ
6RIWWDVWH
[
GUFNHQ
0LW6RIWWDVWHQ
<
;
5XIQXPPHUDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1XPPHUYHUZHQGHQ
6RIWWDVWH
=
GUFNHQ
5XIQXPPHUZLUGLQGLH:DKOYRUEHUHLWXQJHLQDQJHIJW
'DV:DKOYRUEHUHLWXQJVGLVSOD\ZLUGDQJH]HLJW
.RUUHNWXUGHU5XIQXPPHUQLVWP|JOLFK

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$XWRPDWLVFKH:DKOZLHGHUKROXQJ
+DEHQ6LHGHQDQJHUXIHQGHQ7HLOQHKPHUQLFKWHUUHLFKWN|QQHQ6LHQDFK%HWl
WLJXQJGHU$XIOHJHQ7DVWHGLHDXWRPDWLVFKH:DKOZLHGHUKROXQJDNWLYLHUHQ
,KU7HOHIRQUXIWQDFKFD6HNXQGHQFD6HNXQGHQODQJGHQ7HLOQHKPHU
1DFKHUQHXWHU3DXVHHUIROJWZLHGHUGLH$XVZDKOGHU5XIQXPPHUPD[LPDO
PDO:lKUHQGGHU:DKOXQGLP5XI]XVWDQGEHILQGHWVLFKGDV+DQGJHUlWLP/DXW
K|UPRGXV/DXWVSUHFKHUWDVWHEOLQNW
5XIQXPPHUQDXVGHU:DKOZLHGHUKROXQJVOLVWHLP7HOHIRQEXFKVSHLFKHUQ
6RIWWDVWH
[
GUFNHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XWRP:DKOZGK
6RIWWDVWH
=
GUFNHQ
D
RGHU
V
'HU*HVSUlFKVSDUWQHUPHOGHWVLFK
$EQHKPHQRGHU/DXWVSUHFKHU7DVWHGUFNHQ
6LHVSUHFKHQPLWGHP7HLOQHKPHU
6RIWWDVWH
[
GUFNHQ
0LW6RIWWDVWHQ
<
;
5XIQXPPHUDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1ULQV7HOEXFK
6RIWWDVWH
=
GUFNHQ
6LHJHODQJHQGLUHNWLQGDV7HOHIRQEXFK
(
1DPHQHLQJHEHQ
=XP(LQJHEHQYRQ%XFKVWDEHQGUFNHQ6LHHLQE]ZPHKUPDOVGLHHQWVSUH
FKHQGH=LIIHUQWDVWHVLHKH6HLWH


$XVGHP7HOHIRQEXFKZlKOHQ
6LHN|QQHQGHQ1DPHQGHVJHZQVFKWHQ*HVSUlFKVSDUWQHUVLP7HOHIRQEXFK
VXFKHQXQGDQVFKOLHHQGGLH5XIQXPPHUZlKOHQODVVHQ:LH6LH,KU7HOHIRQ
EXFKYHUZDOWHQOHVHQ6LHDE6HLWH
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ
(LQJHJHEHQH5XIQXPPHUXQG1DPHZHUGHQJHVSHLFKHUW
B
$XIOHJHQ7DVWHGUFNHQ
-
7HOHIRQEXFK7DVWHGUFNHQ
(UVWH(LQWUlJHZHUGHQDQJH]HLJW
(
$QIDQJVEXFKVWDEHQHLQJHEHQHUVWH(LQWUlJHPLWGHQ$QIDQJVEXFKVWDEHQZHU
GHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
1DPHQDXVZlKOHQ
D
$EQHKPHQ7DVWHGUFNHQ
'LH5XIQXPPHUZLUGJHZlKOW
infobox
5XIQXPPHUQDXVGHP7HOHIRQEXFKXQGHYWOQDFKJHZlKOWH=LIIHUQZHUGHQLQ
GHU:DKOZLHGHUKROXQJVOLVWHVLHKH6HLWHJHVSHLFKHUW
5XIQXPPHUQDXVGHP7HOHIRQEXFKN|QQHQDXFKLQGHQ:DKOYRUEHUHLWXQJV
VSHLFKHUEHUQRPPHQE]ZDQJHIJWZHUGHQ
N

1XPPHUYHUZHQGHQ


DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQEXFK5XIQXPPHUQXQG1DPHQYHUZDOWHQ
,Q,KUHP7HOHIRQEXFKN|QQHQ6LHELV]X5XIQXPPHUQPD[6WHOOHQPLW
1DPHQPD[6WHOOHQVSHLFKHUQ'LH1DPHQZHUGHQYRP*HUlWDOSKDEHWLVFK
VRUWLHUW'LH6RUWLHUXQJHUIROJWLQGHU5HLKHQIROJH=LIIHUQYRUGHP$OSKDEHW
=XP(LQJHEHQXQG$XIUXIHQGHU1DPHQZHUGHQGLH=LIIHUQWDVWHQDXWRPDWLVFK
DXIGHQ%XFKVWDEHQPRGXVXPJHVFKDOWHW%HDFKWHQ6LHGDEHLIROJHQGHV
■
-HGH=LIIHUQWDVWHLVWLP%XFKVWDEHQ0RGXVPLWPHKUHUHQ%XFKVWDEHQRGHU
6RQGHU]HLFKHQXQG=LIIHUQEHOHJW6LHZHUGHQGXUFKHLQRGHUPHKUPDOLJHV
'UFNHQGHUHQWVSUHFKHQGHQ7DVWHDXVJHZlKOW
■
'HU
HUVWH%XFKVWDEH
GHV1DPHQVXQGQDFKHLQHU/HHUVWHOOHZLUG
DXWRPDWLVFK
JUR
JHVFKULHEHQGLHIROJHQGHQGHQ%XFKVWDEHQZHUGHQNOHLQ
JHVFKULHEHQ'LH.HQQ]HLFKQXQJREHLQ*URRGHU.OHLQEXFKVWDEHIROJW
LVWDQGHU&XUVRU+|KHHUVLFKWOLFK
■
0LWGHU6RIWWDVWH
:
N|QQHQ6LHHLQ]HOQH%XFKVWDEHQYRQUHFKWVQDFKOLQNV
O|VFKHQ
■
0LWGHQ6RIWWDVWHQ
N|QQHQ6LHGHQ&XUVRUDQMHGHUEHOLHELJHQ6WHO
OHLP:RUWSRVLWLRQLHUHQ6LHN|QQHQGRUWPLWGHU6RIWWDVWH
:
%XFKVWDEHQ
O|VFKHQRGHUPLWGHQ=LIIHUQWDVWHQ%XFKVWDEHQYRUGHP&XUVRUHLQIJHQ
■
(LQWUlJHPLWJOHLFKHP1DPHQXQGJOHLFKHU5XIQXPPHUZHUGHQQLFKW
JHVSHLFKHUW
'LH7DVWHQVLQGIROJHQGHUPDHQEHOHJW
7DVWH 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN 'UXFN
D$ E% F& lb j kÇ m® od
G' H( I) sÊ pe qË rÈ
J* K+ L, wÎ vÍ
M- N. O/
P0 Q1 R2 |g xf yÐ {Ñ }¯
S3 T4 U5 V6
W7 X8 Y9 h ~Ô Ö Õ
Z: [; \< ]= ìë  ¡ nc
/HHUVWHOOH
²
"
D!$$!D
#


5XIQXPPHUXQG1DPHQLQGDV7HOHIRQEXFKHLQWUDJHQ
-
7HOHIRQEXFK7DVWHGUFNHQ
'DV7HOHIRQEXFKLVWJH|IIQHW
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1HXHU(LQWUDJ
6RIWWDVWH
=
GUFNHQ
(
1DPHQHLQJHEHQ
6RIWWDVWH
<
GUFNHQ
(
1HXH5XIQXPPHUHLQJHEHQ
6RIWWDVWH
N
GUFNHQ
0HQ3XQNW
(LQWUDJVLFKHUQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
(LQWUDJZLUGJHVSHLFKHUW
$QVFKOLHHQGN|QQHQ6LHZHLWHUH(LQWUlJHLP7HOHIRQEXFKYRUQHKPHQ
infobox
'LH)XQNWLRQGHU57DVWHNDQQHEHQIDOOVJHVSHLFKHUWZHUGHQ
:HQQ6LHHLQH1XPPHU]XP$XIUXIHLQHU6SH]LDOIXQNWLRQVSHLFKHUQEHDFKWHQ
6LHGDVVXQWHU8PVWlQGHUQHLQH:DKOSDXVHQRWZHQGLJLVW'LH:DKOSDXVHJH
EHQ6LHPLWGHU
4

7DVWHODQJHU7DVWHQGUXFNRGHULP8QWHUPHQ
N

33DXVHHLQI¾JHQ

=
DQGHUHQWVSUHFKHQGHQ6WHOOHGHU=LIIHUQIROJHHLQ
$P'LVSOD\ZLUGGLH:DKOSDXVHPLWª3©GDUJHVWHOOW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
5XIQXPPHUGHVOHW]WHQ*HVSUlFKVLP7HOHIRQEXFKVSHLFKHUQ
(LQWUlJHLP7HOHIRQEXFKNRQWUROOLHUHQ
6LHN|QQHQLP7HOHIRQEXFKEOlWWHUQRGHUEHU$QIDQJVEXFKVWDEHQQDFK(LQWUl
JHQVXFKHQ
6RIWWDVWH
[
GUFNHQ
=XOHW]WJHZlKOWH5XIQXPPHUZLUGDQJH]HLJW
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1ULQV7HOEXFK
6RIWWDVWH
=
GUFNHQ
7HOHIRQEXFK(LQJDEH'LVSOD\ZLUGDQJH]HLJW
(
1DPHQHLQJHEHQ
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ
5XIQXPPHUXQG1DPHZHUGHQJHVSHLFKHUW
-
7HOHIRQEXFK7DVWHGUFNHQ
(
*HZQVFKWH$QIDQJVEXFKVWDEHQHLQJHEHQ
(UVWH(LQWUlJHPLWGHQ$QIDQJVEXFKVWDEHQZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
1DPHQVXFKHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJDQ]HLJHQ
6RIWWDVWH
=
GUFNHQ
(LQWUDJZLUGDQJH]HLJW
infobox
$QVFKOLHHQGN|QQHQ6LHGLH5XIQXPPHUGHVJHIXQGHQHQ(LQWUDJVGXUFK
'UFNHQGHU$EQHKPHQ7DVWHGLUHNWZlKOHQODVVHQVLHKH6HLWH

(LQWUlJHLP7HOHIRQEXFKO|VFKHQRGHUlQGHUQ
-
7HOHIRQEXFK7DVWHGUFNHQ
(
*HZQVFKWH$QIDQJVEXFKVWDEHQHLQJHEHQ
(UVWH(LQWUlJHPLWGHQ$QIDQJVEXFKVWDEHQZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
1DPHQVXFKHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJO¸VFKHQ
6RIWWDVWH
=
GUFNHQ
(LQWUDJLVWJHO|VFKW
RGHU bQGHUQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJ¦QGHUQ
6RIWWDVWH
=
GUFNHQ
(
0LW6RIWWDVWHQ
:
XQG=LIIHUQWDVWHQ1DPHQlQGHUQ
6RIWWDVWHQ
<
GUFNHQ
(
0LW6RIWWDVWHQ
:
XQG=LIIHUQWDVWHQ5XIQXPPHUlQGHUQ
6RIWWDVWH
N
GUFNHQ
0HQ3XQNW
(LQWUDJVLFKHUQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
bQGHUXQJLVWJHVSHLFKHUW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$OOH(LQWUlJHLP7HOHIRQEXFKO|VFKHQ
6SHLFKHUSODW]NRQWUROOLHUHQ
-
7HOHIRQEXFK7DVWHGUFNHQ
'DV7HOHIRQEXFKLVWJH|IIQHW
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
/LVWHO¸VFKHQ
6RIWWDVWH
=
GUFNHQ
(
3,1GHV+DQGJHUlWVHLQJHEHQ,P/LHIHU]XVWDQGLVWGLHVª©
6RIWWDVWH
=
GUFNHQ
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
$OOH7HOHIRQEXFKHLQWUlJHVLQGJHO|VFKW
-
7HOHIRQEXFK7DVWHGUFNHQ
'DV7HOHIRQEXFKLVWJH|IIQHW
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6SHLFKHUSODW]

6RIWWDVWH
=
GUFNHQ
)UHLHU6SHLFKHUSODW]ZLUGNXU]]HLWLJDQJH]HLJW
DDw ",!
?!$!,'3


7HOHIRQEXFKHLQWUlJHDXIDQGHUH+DQGJHUlWH.RPIRUWWHOHIRQEHUWUDJHQ
:HQQ,KUH6WDWLRQGLHVH)XQNWLRQXQWHUVWW]WN|QQHQ6LHGDVJHVDPWH7HOHIRQ
EXFKRGHUHLQHQHLQ]HOQHQ(LQWUDJDXVGHP7HOHIRQEXFK,KUHV+DQGJHUlWVDQ
DQGHUHDQJHPHOGHWH+DQGJHUlWH6LQXV.06LQXV'6LQXV&0
RGHUDQGDV.RPIRUWWHOHIRQ6LQXV33$6LQXV3LVGQ3$LVGQEHU
WUDJHQ
(LQWUlJHVHQGHQ
(LQWUlJHDP+DQGJHUlWHPSIDQJHQ
-
7HOHIRQEXFK7DVWHGUFNHQ
(UVWH(LQWUlJHZHUGHQDQJH]HLJW
(
$QIDQJVEXFKVWDEHQHLQJHEHQXPQDFKJHZQVFKWHP(LQWUDJ]XVXFKHQ
(UVWH(LQWUlJHPLWGHQ$QIDQJVEXFKVWDEHQZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<;
(LQWUDJDXVZlKOHQ
6RIWWDVWH
8
GUFNHQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
(LQWUDJVHQGHQ
RGHU
7HOHIRQEXFKNRPSOHWWEHUWUDJHQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
/LVWHVHQGHQ
6RIWWDVWH
=
GUFNHQ
(
,QWHUQ1UGHVJHZQVFKWHQ*HUlWHVHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'LH9HUELQGXQJZLUGKHUJHVWHOOWXQGGHU(LQWUDJE]ZGDVJHVDPWH7HOHIRQEXFK
ZLUGJHVHQGHWZHQQGHU(PSIlQJHUVLFKPHOGHW
D
+DQGJHUlWOlXWHW
$EQHKPHQ7DVWHGUFNHQ
(
3,1GHVHPSIDQJHQGHQ+DQGJHUlWVLP/LHIHU]XVWDQGHLQJHEHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
(LQWUlJHDP.RPIRUWWHOHIRQHPSIDQJHQ

$XVGHU77DVWH/LVWHZlKOHQ
0LWGHU77DVWH
@
KDEHQ6LH=XJULIIDXIHLQEHVRQGHUHV7HOHIRQEXFKPLWVLHEHQ
YRUHLQJHVWHOOWHQZLFKWLJHQ5XIQXPPHUQGHU'HXWVFKHQ7HOHNRP
6RIWWDVWH
=
GUFNHQ
'HURGHUGLHJHVHQGHWHQ7HOHIRQEXFKHLQWUlJHZHUGHQHPSIDQJHQ
+
.RPIRUWWHOHIRQOlXWHW
+|UHUDEKHEHQ
(
6\VWHP3,1GHVHPSIDQJHQGHQ.RPIRUWWHOHIRQVLP/LHIHU]XVWDQGHLQJH
EHQ
6RIWWDVWH
=
GUFNHQ
'HURGHUGLHJHVHQGHWHQ7HOHIRQEXFKHLQWUlJHZHUGHQHPSIDQJHQ
infobox
'LH$Q]DKOGHUJHVSHLFKHUWHQ(LQWUlJHZLUGDQJH]HLJW
,VWGDVHPSIDQJHQGH7HOHIRQEXFKYROOZLUGNXU]]HLWLJLP'LVSOD\ª6SHLFKHU
YROO(LQWUDJQLFKWNRSLHUW©DQJH]HLJWXQGGHU9RUJDQJDEJHEURFKHQ0LWGHU
$XIOHJHQ7DVWHN|QQHQ6LHGLHhEHUWUDJXQJMHGHU]HLWDEEUHFKHQ
:HQQ6LHHLQHQHLQ]HOQHQ(LQWUDJYHUVDQGWKDEHQN|QQHQ6LHPLWGHU6RIW
WDVWH
ÖÖ-$ÖÖ
VRIRUWHLQHQZHLWHUHQ(LQWUDJDXVZlKOHQXQGVHQGHQ
@
77DVWHGUFNHQ
(UVWH(LQWUlJHGHU/LVWHZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ(LQWUDJDXVZlKOHQ
D
$EQHKPHQ7DVWHGUFNHQ
'LHDXVJHZlKOWH5XIQXPPHUZLUGJHVHQGHW
infobox
$Q7HOHIRQDQODJHQ'LHHLQJHWUDJHQHQ5XIQXPPHUQPVVHQXPGLH$PWV
NHQQ]LIIHU$.=RGHUGLH+DXSWDQODJHQNHQQ]LIIHU+$.=HUZHLWHUWZHUGHQ
:LH6LHDXIGHU77DVWHZHLWHUH5XIQXPPHUQVSHLFKHUQRGHUJHVSHLFKHUWH5XI
QXPPHUQSUIHQRGHUO|VFKHQVLHKH6HLWHXQG6HLWH


+|UHU/DXWVWlUNHYHUlQGHUQ
6LHN|QQHQZlKUHQGGHV*HVSUlFKVGLH+|UHU/DXWVWlUNHLQGUHL6WXIHQHLQVWHO
OHQ,P/LHIHU]XVWDQGLVW6WXIHHLQJHVWHOOW

)UHLVSUHFKHQ
6LHN|QQHQ,KU+DQGJHUlWLQGHU)HVWRGHU/DGHVWDWLRQVWHKHQODVVHQRGHUDX
HUKDOEGHU6WDWLRQDXIUHFKWVWHOOHQXQGGXUFK%HWlWLJXQJGHU/DXWVSUHFKHU7D
VWH´)UHLVSUHFKHQµ)UHLVSUHFKHQNDQQDXFKZlKUHQGGHV*HVSUlFKVHLQJH
VFKDOWHWZHUGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
/DXWVW¦UNH

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
+|UHU/DXWVWlUNHYHUlQGHUQ
6RIWWDVWH
=
GUFNHQ
'LHHLQJHVWHOOWH+|UHU/DXWVWlUNHZLUGIUZHLWHUH*HVSUlFKHJHVSHLFKHUW
V
,KU+DQGJHUlWOlXWHW/DXWVSUHFKHU7DVWHEOLQNW
/DXWVSUHFKHU7DVWHGUFNHQ
6LHIKUHQGDV)UHLVSUHFK*HVSUlFK
D
)UHLVSUHFKHQEHHQGHQ
$EQHKPHQ7DVWHGUFNHQ
#
6LHIKUHQGDV*HVSUlFKRKQH)UHLVSUHFKHQ
B
*HVSUlFKEHHQGHQ
$XIOHJHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
/DXWVSUHFKHU/DXWVWlUNHHLQVWHOOHQ
'LH/DXWVWlUNHGHV/DXWVSUHFKHUVNDQQLQ6WXIHQHLQJHVWHOOWZHUGHQ/LHIHU]X
VWDQG 6WXIH
infobox
0LWJHGUFNWHU/DXWVSUHFKHUWDVWHN|QQHQ6LHGDV+DQGJHUlWDXFKZlKUHQG
GHV/DXWVSUHFKHQVLQGLH/DGHVWDWLRQHLQOHJHQRKQH*HVSUlFKVXQWHUEUH
FKXQJ
V
6LHIKUHQHLQ)UHLVSUHFKJHVSUlFK
/DXWVSUHFKHU7DVWHGUFNHQ
0LW6RIWWDVWHQ
/DXWVSUHFKHU/DXWVWlUNHYHUlQGHUQ
6RIWWDVWH
=
GUFNHQ
infobox
2KQH%HVWlWLJXQJPLWGHU6RIWWDVWH
=
JLOWGLH/DXWVSUHFKHU/DXWVWlUNHQXU
IUGLHVHV*HVSUlFK1DFK)UHLVSUHFKHQRGHU*HVSUlFKVHQGHLVWZLHGHUGLH
ELVKHUJHVSHLFKHUWH(LQVWHOOXQJZLUNVDP
'LH/DXWVSUHFKHU/DXWVWlUNHNDQQDXFKLP5XKH]XVWDQGEHU
?

(LQVWHOOXQJHQ

$XGLR

/DXWVSUHFKHU
HLQJHVWHOOWZHUGHQ'LHVH(LQVWHOOXQJ
ZLUGJHVSHLFKHUW


*HVSUlFKLQWHUQZHLWHUJHEHQ
6LHKDEHQHLQH[WHUQHV*HVSUlFKDQJHQRPPHQXQGP|FKWHQHVLQWHUQDQHLQ
DQGHUHV+DQGJHUlWZHLWHUYHUPLWWHOQ
#
6LHIKUHQHLQH[WHUQHV*HVSUlFK
6RIWWDVWH
+
GUFNHQ
'DV([WHUQJHVSUlFKZLUGªJHKDOWHQ©GHU*HVSUlFKVSDUWQHUK|UWGLHLQWHUQH
:DUWHPHORGLH
(
,QWHUQ1UGHVLQWHUQHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
#
6LHVSUHFKHQPLWGHPLQWHUQHQ3DUWQHU
B
$XIOHJHQ7DVWHGUFNHQ
infobox
0HOGHWVLFKGHUJHUXIHQHLQWHUQH7HLOQHKPHUQLFKWN|QQHQ6LHGDV([WHUQJH
VSUlFKDXFKGXUFK'UFNHQGHU57DVWH]XUFNKROHQ
6LHN|QQHQDXFKGLH$XIOHJHQ7DVWHGUFNHQEHYRUVLFKGHULQWHUQH7HLOQHK
PHUPHOGHW1LPPWGHULQWHUQH7HLOQHKPHUGDV([WHUQJHVSUlFKQLFKWDQHU
IROJWLQQHUKDOEYRQ6HNXQGHQHLQ:LHGHUDQUXIDQ,KUHP+DQGJHUlW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

6LFKHUKHLW
(LQJHEDXWH6LFKHUKHLW
:HQQ6LHWHOHIRQLHUHQVLQG)HVWVWDWLRQXQG+DQGJHUlWEHUHLQHQ)XQNNDQDO
PLWHLQDQGHULQ9HUELQGXQJ'LH)HVWVWDWLRQYHUPLWWHOWGDEHL]ZLVFKHQGHP7HOH
IRQQHW]XQGGHP+DQGJHUlW'DPLWPLWDQGHUHQVFKQXUORVHQ7HOHIRQHQQLH
PDQG,KUH*HVSUlFKHPLWK|UHQRGHUDXI,KUH.RVWHQWHOHIRQLHUHQNDQQILQGHW
]ZLVFKHQ)HVWVWDWLRQXQG+DQGJHUlWVWlQGLJHLQ.HQQXQJVDXVWDXVFKVWDWW6WLP
PHQGLH.HQQXQJHQQLFKWEHUHLQZLUGGLH9HUELQGXQJJDUQLFKWHUVWDXIJHEDXW
'LH*HUlWHELHWHQGXUFKGLHGLJLWDOHhEHUWUDJXQJ]ZLVFKHQ)HVWVWDWLRQXQG
+DQGJHUlWHLQVHKUKRKHV0DDQ$EK|UVLFKHUKHLW
0LWYHUVFKLHGHQHQ6LFKHUKHLWVIXQNWLRQHQN|QQHQ6LHGHQ0LEUDXFK,KUHV
+DQGJHUlWVGXUFKDQGHUHYHUKLQGHUQRGHU9RUNHKUXQJHQIU1RWIlOOHWUHIIHQ'LH
(LQVWHOOXQJHQ,KUHV+DQGJHUlWHVVFKW]HQ6LHGXUFKHLQH+DQGJHUlWH3,1*H
KHLP]DKO
6LFKHUKHLWVYRUNHKUXQJHQJHJHQGHQ0LEUDXFK,KUHV+DQGJHUlWHVGXUFK
DQGHUH
:HQQ6LHGLH7HOHIRQVSHUUHDNWLYLHUHQN|QQHQQXU$QUXIHHQWJHJHQJHQRPPHQ
XQGGLHLQ,KUHU6WDWLRQSURJUDPPLHUWHQ1RWUXIQXPPHUQJHZlKOWZHUGHQ
7DVWHQVFKXW]
%HLDNWLYLHUWHP7DVWHQVFKXW]VLHKH6HLWHN|QQHQ6LH,KU+DQGJHUlWMHGHU]HLW
PLWVLFKWUDJHQRKQHGDVVYHUVHKHQWOLFKHLQH5XIQXPPHUJHZlKOWZHUGHQNDQQ

9RUDXVVHW]XQJ3,1lQGHUQ
'LH3,1LVWHLQHYLHUVWHOOLJH*HKHLP]DKOXPGDV+DQGJHUlWHYRUXQEHIXJWHP
=XJULII]XVFKW]HQ)UMHGHV+DQGJHUlWN|QQHQXQWHUVFKLHGOLFKH3,1VHLQJH
JHEHQZHUGHQ
3,1GHV+DQGJHUlWVlQGHUQ
,P/LHIHU]XVWDQGLVWGLH+DQGJHUlWH3,1DXIª©HLQJHVWHOOW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ


6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6LFKHUKHLW
6RIWWDVWH
=
GUFNHQ
(
$OWHYLHUVWHOOLJH+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
,P'LVSOD\ZLUGGLH+DQGJHUlWH3,1GXUFKª©DQJH]HLJW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
3,1¦QGHUQ
6RIWWDVWH
=
GUFNHQ
(
1HXHYLHUELVDFKWVWHOOLJH+DQGJHUlWH3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
(
1HXH+DQGJHUlWH3,1HUQHXWHLQJHEHQ
,P'LVSOD\ZLUGGLH+DQGJHUlWH3,1GXUFKª©DQJH]HLJW
6WLPPWGLH(LQJDEHQLFKWPLWGHUQHXHQ+DQGJHUlWH3,1EHUHLQHUKDOWHQ6LH
GLH0HOGXQJª)HKOHUEHL(LQJDEHGHU3,1©(VKDWNHLQH3,1bQGHUXQJVWDWWJH
IXQGHQ
'LHJHVDPWH(LQJDEHSUR]HGXUPXZLHGHUKROWZHUGHQ
6RIWWDVWH
=
GUFNHQ
'LHQHXH+DQGJHUlWH3,1ZLUGJHVSHLFKHUW
infobox
+DEHQ6LHGLH3,1YHUJHVVHQZHQGHQ6LHVLFKELWWHDQGHQ6HUYLFHGHU'HXW
VFKHQ7HOHNRP
%HLIHKOHUKDIWHU(LQJDEHGHU3,1HUW|QWGHU)HKOHUWRQXQGGLHJHVDPWH(LQJD
EHSUR]HGXUPXZLHGHUKROWZHUGHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQVSHUUH'LUHNWUXI
%HLJHVSHUUWHP+DQGJHUlW
■
N|QQHQ$QUXIHDQJHQRPPHQZHUGHQ
■
N|QQHQGLHJHVSHLFKHUWHQ1RWUXIQXPPHUQJHZlKOWZHUGHQ
■
NDQQGLH71HW)XQNWLRQª9HUELQGXQJRKQH:DKO©DXVJHIKUWZHUGHQ
■
HUVFKHLQWGLH0HOGXQJª7HOHIRQJHVSHUUW©RGHUª'LUHNWUXIHLQ©DP'LVSOD\
ZHQQGLH$EQHKPHQ7DVWHJHGUFNWZLUG
,P/LHIHU]XVWDQGLVWGLH7HOHIRQVSHUUHDXVJHVFKDOWHW
7HOHIRQVSHUUHHLQVFKDOWHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6LFKHUKHLW

6RIWWDVWH
=
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
7HOHIRQVSHUUH

9YRU7HOHIRQVSHUUH (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ

7HOHIRQVSHUUHDXVVFKDOWHQ
'LUHNWUXIQXPPHUHLQJHEHQ
6RIWWDVWH
Ö$86Ö
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
6RIWWDVWH
=
GUFNHQ
'LH7HOHIRQVSHUUHLVWDXVJHVFKDOWHW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6LFKHUKHLW

6RIWWDVWH
=
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
'LUHNWUXIQXPPHU

9YRU'LUHNWUXIQXPPHU 1UYRUKDQGHQRKQH NHLQH1UHLQJHWUDJHQ
6RIWWDVWH
=
GUFNHQ
(
'LUHNWUXIQXPPHUHLQJHEHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJVLFKHUQ


DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
'LUHNWUXIHLQVFKDOWHQ
6RIWWDVWH
=
GUFNHQ
'LH'LUHNWUXIQXPPHUZLUGJHVSHLFKHUW
infobox
%HLGHU(LQJDEHGHU'LUHNWUXIQXPPHUNDQQPLWGHU7DVWH
4
HLQH3DXVHEHU
8QWHUPHQ
N
GLH.HQQXQJ´,µQXUDQHUVWHU6WHOOHIU,QWHUQHLQIJWZHUGHQ
0LWGHU6RIWWDVWH
:
N|QQHQ6LH=LIIHUQO|VFKHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6LFKHUKHLW

6RIWWDVWH
=
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
'LUHNWUXI

9YRU'LUHNWUXI (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ


.RVWHQNRQWUROOLHUHQ
)UHLQHEHVVHUH.RQWUROOHEHUGLH7HOHIRQNRVWHQNDQQ,KU7HOHIRQGLHODXIHQ
GHQ*HVSUlFKVNRVWHQLQYHUVFKLHGHQHQ)RUPHQDQ]HLJHQ'DPLWKDEHQ6LHEH
UHLWVZlKUHQGHLQHV*HVSUlFKVGLH0|JOLFKNHLWNRVWHQEHZXVVW]XWHOHIRQLHUHQ
*HVSUlFKVNRVWHQDQ]HLJH*HOGEHWUDJRGHU(LQKHLWHQ
)UGLH$Q]HLJHDOV*HOGEHWUDJPVVHQ6LHGLH.RVWHQIUHLQH(LQKHLWIHVWOHJHQ
$OWHUQDWLYN|QQHQ6LHVLFKDXFKIUGLH$Q]HLJHLQ(LQKHLWHQDQVWHOOHYRQ*HOGEH
WUlJHQHQWVFKHLGHQ
'DPLW6LHGLH)XQNWLRQHQYROOVWlQGLJQXW]HQN|QQHQEHDXIWUDJHQ6LHELWWHGLH
hEHUPLWWOXQJGHU7DULILQIRUPDWLRQ(LQKHLWHQLPSXOVZlKUHQGGHU9HUELQGXQJ
$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHUGHU5XI
QXPPHU
%LWWHEHDFKWHQ6LHGDVVDXVWHFKQLVFKHQ*UQGHQGLH9HUELQGXQJVDQJDEHQDXI
GHU5HFKQXQJGHU'HXWVFKHQ7HOHNRP$*YRQGHQ:HUWHQ,KUHU*HVSUlFKVNR
VWHQDQJDEHDEZHLFKHQN|QQHQ9HUELQGOLFKLVWLPPHUGHU(LQKHLWHQ]lKOHULQGHU
9HUPLWWOXQJVVWHOOHGHU'HXWVFKHQ7HOHNRP

'DXHU.RVWHQ$Q]HLJHZlKUHQGGHV*HVSUlFKV
$P+DQGJHUlWZHUGHQZlKUHQGHLQHV*HVSUlFKV
DQGHQ)HVWVWDWLRQHQ6LQXV0LFUR6LQXV6LQXV$%DQJH]HLJW
■
GLH*HVSUlFKVGDXHULQ6WXQGHQ0LQXWHQ6HNXQGHQ
ZHQQNHLQ(LQKHLWHQLPSXOVDNWLYLHUW
GLH*HVSUlFKVGDXHUDQ]HLJHHLQJHVFKDOWHWLVWRGHU
ELV]XP(LQWUHIIHQGHVHUVWHQ,PSXOVHV
■
GLH(LQKHLWHQ6XPPHXQGODXIHQGHV*HVSUlFK
QDFK(LQWUHIIHQGHVHUVWHQ,PSXOVHV
RGHU
■
GHU*HOGEHWUDJ
$P+DQGJHUlWZHUGHQZlKUHQGHLQHV*HVSUlFKV
DQGHQ6WDWLRQHQ6LQXV33$XQG6LQXV3LVGQ3$LVGQDQJH]HLJW
■
GLH*HVSUlFKVGDXHULQ0LQXWHQ6HNXQGHQ
ZHQQ*HVSUlFKVGDXHUDNWLYLHUWLVW
U
,
+
[
D@>;
00:00:00
GGGGGGG GGGG
U
,
+
[
D@>;
HN HNG
U
,
+
[
D@>;
 GH
GH 4)N
?@A44

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
■
GLH(LQKHLWHQ6XPPHXQGODXIHQGHV*HVSUlFK
RGHU
■
GHU*HOGEHWUDJ
$P+DQGJHUlWZHUGHQZlKUHQGHLQHV*HVSUlFKV
DQGHU)HVWVWDWLRQ6LQXVLVGQDQJH]HLJW
GLH*HVSUlFKVGDXHULQ6WXQGHQ0LQXWHQ6HNXQGHQ
infobox
'LH'DUVWHOOXQJLP'LVSOD\NDQQDQDQGHUHQ6WDWLRQHQXQWHUVFKLHGOLFKVHLQ
'LHQRWZHQGLJHQ(LQVWHOOXQJHQHQWQHKPHQ6LHGHU%HGLHQXQJVDQOHLWXQJ,KUHU
6WDWLRQ
 GH
+
GGH GGGH
?@A44
 GH
+
GHNH HNG
?@A44
 GH
GGGHG
?@A44


+DQGJHUlWHLQVWHOOHQ
6LHN|QQHQLP5XKH]XVWDQGGHV+DQGJHUlWVIROJHQGH(LQVWHOOXQJHQYRUQHK
PHQlQGHUQ
■
6SUDFKHIHVWOHJHQVLHKH6HLWH
■
$XWRPDWLVFKH5XIDQQDKPHHLQDXVVFKDOWHQVLHKH6HLWH
■
+|UHU/DXWVWlUNHHLQVWHOOHQVLHKH6HLWH
■
5XIWRQ/DXWVWlUNHHLQVWHOOHQVLHKH6HLWH
■
5XIWRQ0HORGLHIHVWOHJHQVLHKH6HLWH
■
$XIPHUNVDPNHLWVWRQHLQVWHOOHQVLHKH6HLWH
■
+LQZHLVW|QHHLQRGHUDXVVFKDOWHQVLHKH6HLWH
■
%DE\SKRQVLHKH6HLWH
■
*HUlWH0DNURVVLHKH6HLWH
■
6WDWLRQVDXVZDKO:HFKVHOQ]XHLQHUDQGHUHQ6WDWLRQVLHKH6HLWH
■
6WDWLRQVQDPHQlQGHUQVLHKH6HLWH
■
)XQNWLRQGHU77DVWHIHVWOHJHQVLHKH6HLWH
■
0HKU]HOOHQNRQILJXUDWLRQ3DUNIlKLJNHLWHLQVWHOOHQVLHKH6HLWH
■
6WDWLRQV(LQVWHOOXQJHQVLHKH6HLWH
■
/LHIHU]XVWDQGZLHGHUKHUVWHOOHQVLHKH6HLWH

6SUDFKHIHVWOHJHQ
)UGLH'LVSOD\DQ]HLJHN|QQHQ6LHGLH6SUDFKHQ'HXWVFK(QJOLVFK)UDQ]|VLVFK
,WDOLHQLVFK6SDQLVFK3RUWXJLHVLVFKXQG1LHGHUOlQGLVFKHLQVWHOOHQ,P/LHIHU]X
VWDQGLVWª'HXWVFK©HLQJHVWHOOW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6SUDFKH
6RIWWDVWH
=
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$XWRP5XIDQQDKPHHLQDXVVFKDOWHQ
6LHN|QQHQ,KU+DQGJHUlWVRHLQVWHOOHQGDVVGLH*HVSUlFKVDQQDKPHGXUFK+HU
DXVQDKPHDXVGHU)HVW/DGHVWDWLRQDXWRPDWLVFK (,1RGHUQXUGXUFK%HWlWL
JXQJGHU$EQHKPHQ7DVWH $86ZLHEHL*HVSUlFKVDQQDKPHZHQQ+DQGJH
UlWDXHUKDOEGHU)HVW/DGHVWDWLRQOLHJWHUIROJW
,P/LHIHU]XVWDQGLVWGLHDXWRPDWLVFKH5XIDQQDKPH´(,1µ

+|UHU/DXWVWlUNHHLQVWHOOHQ
6LHN|QQHQGLH*UXQGHLQVWHOOXQJGHU+|UHU/DXWVWlUNHLP5XKH]XVWDQGLQGUHL
6WXIHQHLQVWHOOHQXQGVSHLFKHUQ
,P/LHIHU]XVWDQGLVWGLH6WXIHHLQJHVWHOOW
0LW6RIWWDVWHQ
<
;
JHZQVFKWH6SUDFKHDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
'LH6SUDFKHZLUGHLQJHVWHOOW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XW5XIDQQDKPH
9YRU$XWR5XIDQQDKPH (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

0LFUR


5XIWRQ/DXWVWlUNHHLQVWHOOHQ
6LHN|QQHQGLH/DXWVWlUNHGHV5XIWRQVDP+DQGJHUlWLQVHFKV6WXIHQHLQVWHOOHQ
RGHUGHQ5XIWRQDEVWHOOHQ
$XV5XKHYRUGHP7HOHIRQ
/DXWHVWH6WXIH
ª&UHVFHQGR©GK5XIWRQEHJLQQWEHL6WXIHª©XQGVFKZLOOWELV]X6WXIHª©
DQ
,VWGHU5XIWRQDXVJHVFKDOWHW6WXIHª©ZLUGHLQ$QUXIQXUQRFKDP'LVSOD\RS
WLVFKVLJQDOLVLHUW
5XIWRQ/DXWVWlUNHDP+DQGJHUlWHLQVWHOOHQ
,P/LHIHU]XVWDQGLVWDP+DQGJHUlWGLH6WXIHª©HLQJHVWHOOW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
+¸UHUODXWVW¦UNH

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
+|UHU/DXWVWlUNHYHUlQGHUQ
6RIWWDVWH
=
GUFNHQ
'LHHLQJHVWHOOWH+|UHU/DXWVWlUNHZLUGIUZHLWHUH*HVSUlFKHJHVSHLFKHUW
B
$XIOHJHQ7DVWHGUFNHQ
infobox
6LHN|QQHQGLH+|UHU/DXWVWlUNHDXFKZlKUHQGHLQHV*HVSUlFKVYHUlQGHUQ
VLHKH6HLWH
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5XIWRQODXWVW

6RIWWDVWH
=
GUFNHQ
6LHK|UHQGHQ5XIWRQLQGHUHLQJHVWHOOWHQ/DXWVWlUNH
0LW6RIWWDVWHQ
5XIWRQODXWVWlUNHYHUlQGHUQ
6LHK|UHQGHQ5XIWRQLQGHUHLQJHVWHOOWHQ/DXWVWlUNH
$OOH6WXIHQXQG.HLOªOHHU©5XIWRQDEJHVFKDOWHW
QXU.HLOªJHIOOW©&UHVFHQGR5XIHLQJHVFKDOWHW
6RIWWDVWH
=
GUFNHQ
'LHHLQJHVWHOOWH5XIWRQ/DXWVWlUNHZLUGJHVSHLFKHUW


5XIWRQ0HORGLHIHVWOHJHQ
6LHN|QQHQIUGHQ5XIWRQ]HKQYHUVFKLHGHQH0HORGLHQHLQVWHOOHQ
,P/LHIHU]XVWDQGLVWGLH0HORGLHª©HLQJHVWHOOW
5XIWRQ0HORGLHDP+DQGJHUlWHLQVWHOOHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5XIWRQPHORGLH

6RIWWDVWH
=
GUFNHQ
6LHK|UHQGHQ5XIWRQLQGHUHLQJHVWHOOWHQ0HORGLH
0LW6RIWWDVWHQ
5XIWRQPHORGLHYHUlQGHUQ
6LHK|UHQGHQ5XIWRQLQGHUHLQJHVWHOOWHQ0HORGLH
'LHDXVJHZlKOWH0HORGLHZLUGGXUFKGXQNOHV)HOGJHNHQQ]HLFKQHW
6RIWWDVWH
=
GUFNHQ
'LHHLQJHVWHOOWH5XIWRQ0HORGLHZLUGJHVSHLFKHUW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$XIPHUNVDPNHLWVWRQHLQVWHOOHQ
6LHN|QQHQGHQ5XIWRQDQ,KUHP+DQGJHUlWVRHLQVWHOOHQGDVV6LHDQVWDWWGHU
0HORGLHQXUHLQHQ$XIPHUNVDPNHLWVWRQK|UHQ
,P/LHIHU]XVWDQGLVWGHU$XIPHUNVDPNHLWVWRQDXVJHVFKDOWHW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
.XU]HU5XIWRQ
9YRU.XU]HU5XIWRQ (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ


+LQZHLVW|QHHLQDXVVFKDOWHQ
'LH+LQZHLVW|QHPDFKHQ6LHGDUDXIDXIPHUNVDPGDVV
² GLH.DSD]LWlWGHV$NNXVQLFKWPHKUDXVUHLFKHQGLVWª$NNXZDUQXQJ©
² GLH(LQJDEHQHUIROJUHLFKRGHUQLFKWHUODXEWZDUHQª4XLWWXQJVW|QH©
² 6LHHLQH7DVWHEHWlWLJWKDEHQª7DVWHQNOLFN©
'LHVH+LQZHLVW|QHN|QQHQ6LHHLQRGHUDXVVFKDOWHQ,P/LHIHU]XVWDQGVLQGDOOH
7|QHHLQJHVFKDOWHW
7DVWHQNOLFNHLQDXVVFKDOWHQ
4XLWWXQJVW|QHHLQDXVVFKDOWHQ
4XLWWXQJVXQG)HKOHUWRQN|QQHQQXUJHPHLQVDPDXVHLQJHVFKDOWHWZHUGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
7DVWHQNOLFN

9YRU7DVWHQNOLFN (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$NNXZDUQWRQHLQDXVVFKDOWHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
4XLWWXQJVW¸QH

9YRU4XLWWXQJVW|QH (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XGLR

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$NNXZDUQWRQ

9YRU$NNXZDUQWRQ (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ


%DE\SKRQ
:HQQ6LHPHKUHUH+DQGJHUlWDQJHPHOGHWKDEHQN|QQHQ6LH,KU+DQGJHUlW
6LQXV.VRHLQVWHOOHQGDVGLHVHV+DQGJHUlWEHLHLQHP*HUlXVFKSHJHOLP
5DXPVHOEVWWlWLJHLQDQGHUHV+DQGJHUlWUXIWXQG6LHPLWGHPJHUXIHQHQ+DQG
JHUlWLQGHQ5DXPK|UHQN|QQHQ%DE\EHUZDFKXQJ
'HU$QVSUHFKSHJHO*HUlXVFKHPSILQGOLFKNHLW,KUHV+DQGJHUlWHVNDQQLQGUHL
6WXIHQ JHULQJHU*HUlXVFKSHJHOELV KRKHU*HUlXVFKSHJHOEHLGHPGDV
+DQGJHUlWDQVSULFKWHLQJHVWHOOWZHUGHQ,P/LHIHU]XVWDQGLVWGLH6WXIHHLQJH
VWHOOW
%DE\SKRQ5XIQXPPHUHLQJHEHQ
%DE\SKRQHLQVFKDOWHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%DE\SKRQ(LQVW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%DE\SKRQ5XIQU

6RIWWDVWH
=
GUFNHQ
(
,QWHUQ1UGHV]XUXIHQGHQ+DQGJHUlWHVHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'LH%DE\SKRQ5XIQXPPHULVWJHVSHLFKHUW9YRU%DE\SKRQ5XIQU
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%DE\SKRQ(LQVW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%DE\SKRQ

9YRU%DE\SKRQ (,1RKQH $86

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
%DE\SKRQDXVVFKDOWHQ
%DE\SKRQ3HJHOHLQVWHOOHQ
6WXIH JHULQJHU*HUlXVFKSHJHOELV6WXIH KRKHU*HUlXVFKSHJHO
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
,P'LVSOD\ZLUG©%DE\SKRQDNWLYªXQG©$ODUPDQ,17;ªDQJH]HLJW
infobox
([WHUQHXQGLQWHUQH5XIHZHUGHQDQGLHVHP+DQGJHUlWQXUQRFKRSWLVFKVL
JQDOLVLHUWXQGN|QQHQDQJHQRPPHQZHUGHQ
$EJHKHQGH*HVSUlFKHVLQGP|JOLFK
4XLWWXQJVW|QHVLQGLQGLHVHP=XVWDQGDXVJHVFKDOWHW
6RIWWDVWH
Ö$86Ö
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%DE\SKRQ(LQVW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
3HJHOHLQVWHOO
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
3HJHO6WXIHDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
'LH3HJHO6WXIHLVWJHVSHLFKHUW


*HUlWH0DNURV
6LHN|QQHQVLFKKlXILJEHQXW]WH(LQVWHOO$EIUDJHSUR]HGXUHQ71HW)XQNWLRQHQ
XQWHUGHP0HQ3XQNWª*HUlWH0DNURV©VHOEVWSURJUDPPLHUHQDQVFKOLHHQG
DXIUXIHQXQGDXWRPDWLVFKDEODXIHQODVVHQ
6\VWHPHLQVWHOOSUR]HGXUHQVLQGQXUDQ6WDWLRQHQP|JOLFKDQGHQHQGLHVH3UR]H
GXUHQPLWHLQHP+DQGJHUlWYHUlQGHUWZHUGHQN|QQHQ
(UOlXWHUXQJGHU(OHPHQWH0HQ3XQNWH
ª&3,1DEIUDJHQ© $QIRUGHUXQJGHU'LVSOD\DQ]HLJHGLH]XU3,1(LQJDEHDXIIRU
GHUW
ª11XPPHUDEIU© $QIRUGHUXQJGHU'LVSOD\DQ]HLJHGLH]XU5XIQXPPHUQ(LQ
JDEHDXIIRUGHUW
ª44XLWWXQJDEIU© $QKDOWHQGHV3UR]HGXUDEODXIV]XP$EK|UHQHLQHU4XLWWXQJ
ª33DXVHHLQIJHQ©]XP(LQIJHQHLQHU:DKOSDXVH
ª,,17© ,QWHUQYHUELQGXQJ 6RIWWDVWH
+
ª((QGH9HUELQG©7UHQQWGLH/HLWXQJ $XIOHJHQ7DVWH
ª07HPS7RQZDKO©8PVFKDOWXQJDXI7RQVHQGHUIXQNWLRQ
'LH(OHPHQWHVLQGHQWVSUHFKHQGGHQPDQXHOOHQ(LQJDEHQGHU3UR]HGXUHLQ]X
IJHQ
0DNURHLQJHEHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
*HU¦WH0DNURV

6RIWWDVWH
=
GUFNHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
1HXHU(LQWUDJ
6RIWWDVWH
=
GUFNHQ
(
1DPHHLQJHEHQ
6RIWWDVWH
<
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
0DNURVWDUWHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(OHPHQWHLQI¾JHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHV(OHPHQWDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
'HU.HQQ%XFKVWDEHGHV(OHPHQWVZLUGLP'LVSOD\DQJH]HLJW
RGHU
(
*HZQVFKWH=LIIHUQHLQJHEHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJVLFKHUQ

6RIWWDVWH
=
GUFNHQ
0DNURLVWJHVSHLFKHUW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HU¦WH0DNURV

6RIWWDVWH
=
GUFNHQ
'LHHUVWHQ0DNURVZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWHV0DNURDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
0DNURVWDUWHQ

6RIWWDVWH
=
GUFNHQ
ª0DNURLVWDNWLY©

0DNURVO|VFKHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HU¦WH0DNURV

6RIWWDVWH
=
GUFNHQ
'LHHUVWHQ0DNURVZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWHV0DNURDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
(LQ]HO(LQWUDJO|VFKHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJO¸VFKHQ

6RIWWDVWH
=
GUFNHQ
(LQ]HOHLQWUDJLVWJHO|VFKW
RGHU
$OOH0DNURVO|VFKHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
/LVWHO¸VFKHQ

6RIWWDVWH
=
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
$OOH*HUlWH0DNURVVLQGJHO|VFKW
B
$XIOHJHQ7DVWHGUFNHQ
infobox
6LHN|QQHQDXFK0DNURHLQWUlJHDQHLQDQGHUHV+DQGJHUlW6LQXV.0
VHQGHQ
0HQ3XQNW
(LQWUDJVHQGHQ
RGHU
/LVWHVHQGHQ
(LQWUlJHN|QQHQJHlQGHUWRGHUNRQWUROOLHUWZHUGHQ
0HQ3XQNW
(LQWUDJ¦QGHUQ
RGHU
(LQWUDJDQ]HLJHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

6WDWLRQVDXVZDKO:HFKVHOQ]XHLQHUDQGHUHQ6WDWLRQ
-HGHV+DQGJHUlWNDQQDQELV]XYLHU)HVWVWDWLRQHQDQJHPHOGHWVHLQ:HQQ6LH
PLWGHP+DQGJHUlWGLH5HLFKZHLWHHLQHU)HVWVWDWLRQYHUODVVHQNDQQGDV+DQG
JHUlWDXWRPDWLVFK9HUELQGXQJ]XUQlFKVWHQHUUHLFKEDUHQ)HVWVWDWLRQDQGHUHV
DQJHPHOGHWLVWDXIQHKPHQ
)ROJHQGH(LQVWHOOXQJHQVWHKHQ,KQHQ]XU9HUIJXQJZHQQGDV+DQGJHUlWDQ
PHKUHUHQ)HVWVWDWLRQHQDQJHPHOGHWLVW
■
)HVWH9HUELQGXQJQXU]XHLQHUDXVJHZlKOWHQ6WDWLRQ
■
%HVWH'DV+DQGJHUlWZLUGDXWRPDWLVFKPLWGHU)HVWVWDWLRQYHUEXQGHQ
ZHOFKHGLHEHVWH)XQNYHUELQGXQJHUP|JOLFKWZHQQPDQGHQ)XQNEHUHLFK
GHU6WDWLRQYHUOlWPLWGHUPDQJHUDGHYHUEXQGHQZDU
0DQXHOOHV:HFKVHOQ]XHLQHUEHVWLPPWHQ6WDWLRQ)HVWH
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$XVZ¦KOHQ
6RIWWDVWH
=
GUFNHQ
9HUELQGXQJ]XUDXVJHZlKOWHQ6WDWLRQZLUGKHUJHVWHOOW
B
$XIOHJHQ7DVWHGUFNHQ

9HUELQGXQJ]XU6WDWLRQPLWGHUEHVWHQ)XQNYHUELQGXQJ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
%HVWH6WDWLRQ
6RIWWDVWH
=
GUFNHQ
9HUELQGXQJHUIROJW]XU6WDWLRQPLWGHUEHVWHQ)XQNYHUELQGXQJ
B
$XIOHJHQ7DVWHGUFNHQ
infobox
(LQ:HFKVHO]ZLVFKHQYHUVFKLHGHQHQ)HVWVWDWLRQHQZlKUHQGHLQHV*HVSUlFKV
LVWQLFKWP|JOLFK
ª!©YRUGHP6WDWLRQVQDPHQNHQQ]HLFKQHWGLH6WDWLRQHQDQGHPGDV+DQGJH
UlWDQJHPHOGHWLVW
ª9©YRUGHP6WDWLRQVQDPHQNHQQ]HLFKQHWGLHDNWXHOODXVJHZlKOWH6WDWLRQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

6WDWLRQVQDPHQlQGHUQ
6LHN|QQHQGHU6WDWLRQHLQHDQGHUH%H]HLFKQXQJJHEHQZRPLWLP'LVSOD\5X
KH]XVWDQG]%ª%UR,17©DQVWDWWª6WDWLRQ©DQJH]HLJWZLUG
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1DPH¦QGHUQ
6RIWWDVWH
=
GUFNHQ
(
0LW6RIWWDVWHQ
:
XQG=LIIHUQWDVWHQ1DPHQlQGHUQ
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ
B
$XIOHJHQ7DVWHGUFNHQ


)XQNWLRQHQGHU77DVWHIHVWOHJHQ
0LWGHU77DVWH
7
KDEHQ6LH=XJULIIDXIHLQEHVRQGHUHV7HOHIRQEXFK'LH6SHL
FKHUSOlW]HVLQGLP/LHIHU]XVWDQGPLWVLHEHQZLFKWLJHQ5XIQXPPHUQGHU'HXW
VFKHQ7HOHNRPEHOHJW
'LH:DKOPLWGHU77DVWHLVWDXI6HLWHEHVFKULHEHQ
1HXHQ(LQWUDJLQ77DVWHHLQJHEHQ
@
77DVWHGUFNHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1HXHU(LQWUDJ
6RIWWDVWH
=
GUFNHQ
(
1DPHQHLQJHEHQ
0LW6RIWWDVWH
<
LQ=HLOH5XIQXPPHUVSULQJHQ
(
5XIQXPPHUHLQJHEHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJVLFKHUQ
6RIWWDVWH
=
GUFNHQ
'LHbQGHUXQJLVWJHVSHLFKHUW
infobox
:HQQ6LHHLQH1XPPHU]XP$XIUXIHLQHU6SH]LDOIXQNWLRQVSHLFKHUQEHDFKWHQ
6LHGDVVXQWHU8PVWlQGHQHLQH:DKOSDXVHQRWZHQGLJLVW'LH:DKOSDXVHJH
EHQ6LHPLWGHU7DVWH
4
RGHULP8QWHUPHQ
N

33DXVHHLQI¾JHQ

2.
DQGHUHQWVSUHFKHQGHQ6WHOOHGHU=LIIHUQIROJHHLQ,P'LVSOD\ZLUGGLH:DKO
SDXVHPLWª3©GDUJHVWHOOW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
5XIQXPPHUQGHU77DVWHSUIHQO|VFKHQ
(LQWUlJHLQ77DVWHlQGHUQ
ZLH(LQWUlJHLP7HOHIRQEXFKlQGHUQVLHKH6HLWH
@
77DVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
(LQWUDJDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJDQ]HLJHQ
6RIWWDVWH
=
GUFNHQ
*HVDPWHU(LQWUDJZLUGDQJH]HLJW
6RIWWDVWH
=85&.
GUFNHQ
RGHU
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQWUDJO¸VFKHQ
6RIWWDVWH
=
GUFNHQ
*HVDPWHU(LQWUDJLVWJHO|VFKW


0HKU]HOOHQNRQILJXUDWLRQ3DUNIlKLJNHLWHLQVWHOOHQ
'LHVH(LQVWHOOXQJLVWQXUEHLEHL+DQGJHUlWHQDQ,6'1)HVWVWDWLRQHQGLHLQ0HKU
]HOOHQNRQILJXUDWLRQEHWULHEHQZHUGHQXQGEHLGHQHQGDV3DUNHQQXUPLWGLHVHU
(LQVWHOOXQJP|JOLFKLVW]%6LQXVLVGQLVGQQRWZHQGLJ
%HDFKWHQ6LHGLH%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQ

?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ

6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
0HKU]HOOHQNRQI

9YRU0HKU]HOOHQNRQI (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

6WDWLRQV(LQVWHOOXQJHQ
'LH3UR]HGXUHQDQGHQXQWHUVFKLHGOLFKHQ'(&7*$3)HVWVWDWLRQHQDQGHQHQ
GLH(LQVWHOOXQJHQPLWHLQHP+DQGJHUlWGXUFKJHIKUWZHUGHQVLQGYHUVFKLHGHQ
'LHHQWVSUHFKHQGHQ3UR]HGXUHQILQGHQ6LHLQGHU%HGLHQXQJVDQOHLWXQJ,KUHU
6WDWLRQ
(LQVWLHJLQV(LQVWHOOXQJVSURJUDPP
8QWHUVFKLHGHYRQ7DVWHQXQG6RIWWDVWHQLQGHQYHUVFKLHGHQHQ
+DQGJHUlWHQ6LQXV66LQXV.
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH

6RIWWDVWH
=
GUFNHQ
:HLWHUH(LQJDEHQZLHLQ,KUHU6WDWLRQV%HGLHQXQJVDQOHLWXQJEHVFKULHEHQ
7DVWH 6RIWWDVWH 0HQ3XQNW
[
k
,17
6(7 6HUYLFH
]
,17
|:
infobox
'LH'DUVWHOOXQJLP'LVSOD\NDQQEHLGHQYHUVFKLHGHQHQ6WDWLRQHQXQWHU
VFKLHGOLFKVHLQ


/LHIHU]XVWDQGZLHGHUKHUVWHOOHQ
/LHIHU]XVWDQGDP+DQGJHUlWZLHGHUKHUVWHOOHQ
6LHN|QQHQPLWGLHVHU3UR]HGXUDOOHLQGLYLGXHOOYHUlQGHUWHQ(LQVWHOOXQJHQXQG
bQGHUXQJHQLQGHQ/LHIHU]XVWDQG]XUFNVHW]HQ
1LFKWJHlQGHUWZHUGHQGLH$QPHOGHGDWHQGLH+DQGJHUlWH3,1GDV7HOHIRQ
EXFKGLH77DVWHGLH6WDWLRQV0DNURV*HUlWH0DNURVXQG6WDWLRQVQDPHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(LQVWHOOXQJHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
/LHIHU]XVWDQG
6RIWWDVWH
=
GUFNHQ
(
+DQGJHUlWH3,1HLQJHEHQLP/LHIHU]XVWDQGª©
6RIWWDVWH
=
GUFNHQ
ª(LQVWHOOXQJHQLQGHQ/LHIHU]XVWDQG]XUFNJHVHW]W©

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

,Q%HWULHEQHKPHQ

+DQGJHUlWDQDEPHOGHQ
6LHN|QQHQGDV+DQGJHUlWDQGHQ)HVWVWDWLRQHQ6LQXV0LFUR$%DQ
PHOGHQ%LV]XVHFKV+DQGJHUlWHN|QQHQDQGLHVHQ6WDWLRQHQDQJHPHOGHWZHU
GHQ
'DV+DQGJHUlWNDQQDQELV]XYLHU6WDWLRQHQDQJHPHOGHWZHUGHQ
$QPHOGHQ
$QGHU)HVWVWDWLRQ5XIWDVWHVRODQJHGUFNHQFD6HNXQGHQELV$QPHOGH
WRQHUW|QW
$P+DQGJHUlW)ROJHQGH3UR]HGXULQQHUKDOEYRQ6HNXQGHQGXUFKIKUHQ
,P'LVSOD\VWHKWª$QPHOGHQ"©
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
'LHQRFKIUHLHQ,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]% 
(
(LQHGHUIUHLHQ,QWHUQ1XPPHUQHLQJHEHQ
.XU]]HLWLJZLUGª,17(51©]%ª©DQJH]HLJW
+DQGJHUlWLVWDQJHPHOGHW
RGHU
?
,P'LVSOD\VWHKWª6WDWLRQ;©RGHUª6XFKH6WDWLRQ©
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
0HQ3XQNWGHUJHZQVFKWHQ6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ

$EPHOGHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QPHOGHQ
6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
'LHQRFKIUHLHQ,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]% 
(
(LQHGHUIUHLHQ,QWHUQ1XPPHUQHLQJHEHQ
.XU]]HLWLJZLUGª,17(51©]%ª©DQJH]HLJW
+DQGJHUlWLVWDQJHPHOGHW
infobox
'DV*HUlWVXFKW6HNXQGHQQDFKGHUDQPHOGHEHUHLWHQ)HVWVWDWLRQ)ROJHQ
GH)HKOHUPHOGXQJLVWLP$EODXIP|JOLFK
ª.HLQHIUHLH,QWHUQ1U©²(VLVWNHLQH,QWHUQ5XIQXPPHUPHKUIUHLGHU$QPHO
GHYRUJDQJZLUGVRIRUWXQWHUEURFKHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ

7DVWHQQDFKHLQDQGHUGUFNHQ
6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ,P/LHIHU]XVWDQGLVWGLHVª©
6RIWWDVWH
=
GUFNHQ
$QJHPHOGHWH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'DV*HUlWPLWGHUHLQJHJHEHQHQ,QWHUQ1ULVWDEJHPHOGHW
infobox
'LHQLFKWDEJHPHOGHWHQ+DQGJHUlWHEHKDOWHQLKUH,QWHUQ1U
6LHN|QQHQPLWHLQHPDQJHPHOGHWHQ+DQGJHUlWDOOHDQGHUHQDQJHPHOGHWHQ
+DQGJHUlWHDEPHOGHQ


7HOHIRQLHUHQ

$XVGHU$QUXIHUOLVWHZlKOHQ
6RIHUQ6LHEHLGHU'HXWVFKHQ7HOHNRPGLH71HW)XQNWLRQ]XUhEHUWUDJXQJGHU
5XIQXPPHU&/,3EHDXIWUDJWKDEHQZHUGHQEHUWUDJHQH5XIQXPPHUPD[
=LIIHUQYRQ$QUXIHQLQGLH/LVWHPLW'DWXP8KU]HLWDQJDEHQDEJHVSHLFKHUW
%HL5XIQXPPHUQGLHLP7HOHIRQEXFKJHVSHLFKHUWVLQGZLUGGLH5XIQXPPHU
GXUFKGHQ1DPHQHUVHW]W
1HXHLQJHWURIIHQH5XIQXPPHUQZHUGHQDP+DQGJHUlWGXUFKGLH6RIWWDVWH
,
VLJQDOLVLHUW
,VWGLH/LVWHYROOZLUGGHUlOWHVWH(LQWUDJJHO|VFKWXQGGHUQHXH(LQWUDJGHU/LVWH
YRUDQJHVWHOOW
6RIWWDVWH
,
GUFNHQ
$Q]DKO1DFKULFKWHQ1HXHQXQG$OWH[ZLUGNXU]]HLWLJDQJH]HLJW
'LH5XIQXPPHUPLW'DWXP8KU]HLW5XIQXPPHUXQG$Q]DKOGHU$QUXIH1U
GHU1DFKULFKWXQGJHVDPWH$Q]DKOGHU1DFKULFKWHQZLUG
DQJH]HLJW
RGHU
6RIWWDVWH
+
GUFNHQ
6RIWWDVWHÖ6(7ÖGUFNHQ
7DVWHGUFNHQ
$Q]DKO1DFKULFKWHQ1HXHQXQG$OWH[
ZLUGNXU]]HLWLJDQJH]HLJW
0LW6RIWWDVWHQ
<;
JHZQVFKWH1DFKULFKW
DXVZlKOHQ
D
$EQHKPHQ7DVWHGUFNHQ
'LHDXVJHZlKOWH5XIQXPPHUZLUGJHVHQGHW
infobox
$Q7HOHIRQDQODJHQ%HL:DKODXVGHU$QUXIOLVWHZLUGGLH$PWVNHQQ]LIIHU$.=
DXWRPDWLVFKGHU5XIQXPPHUYRUDQJHVWHOOW
GH
G
;<
"
C8
GNGN G
GH
G
;<
"
C8
GNGN G

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

,QWHUQHU6DPPHOUXI
+DEHQ6LHPHKUHUH+DQGJHUlWHDQGHU6WDWLRQDQJHPHOGHWN|QQHQ6LHDOOH
+DQGJHUlWHJOHLFK]HLWLJUXIHQ6DPPHOUXI
6RIWWDVWH
,17
GUFNHQ
6WHUQ7DVWHGUFNHQ
RGHU
6RIWWDVWH
$1$//(
GUFNHQ
$OOHDQJHPHOGHWHQ+DQGJHUlWHZHUGHQJHUXIHQ
#
6LHVLQGPLWGHPHUVWHQ*HVSUlFKVSDUWQHUYHUEXQGHQGHUGHQ6DPPHOUXIDQ
QLPPW


5FNUXIEHL%HVHW]W
'LHVH71HW)XQNWLRQPXEHLGHU'HXWVFKHQ7HOHNRPEHDXIWUDJWVHLQ
'HU*HVSUlFKVSDUWQHUGHQ6LHDQUXIHQWHOHIRQLHUWJHUDGH:HQQGHU*H
VSUlFKVSDUWQHUVHLQ*HVSUlFKEHHQGHWKDWZLUG,KUH9HUELQGXQJ]XLKPDXWR
PDWLVFKKHUJHVWHOOW
5FNUXIEHL%HVHW]WDNWLYLHUHQ
#
'HUDQJHUXIHQH*HVSUlFKVSDUWQHUIKUWJHUDGHHLQ*HVSUlFK
6LHK|UHQGHQ%HVHW]WWRQ
6RIWWDVWH
U
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5¾FNUXI

6RIWWDVWH
=
GUFNHQ
$QVDJHDEZDUWHQ´'DV'LHQVWPHUNPDOLVWDNWLYLHUWµ
B
$XIOHJHQ7DVWHGUFNHQ
6REDOGGHUJHZQVFKWH*HVSUlFKVSDUWQHUIUHLLVWZLUGGLH9HUELQGXQJDXWRPD
WLVFKKHUJHVWHOOW
infobox
(VNDQQMHZHLOVQXUHLQ5FNUXIDNWLYLHUWZHUGHQ
'LH$NWLYLHUXQJª5FNUXIEHL%HVHW]W©EOHLEWFD0LQXWHQEHVWHKHQ'DQDFK
ZLUGVLHLQGHU9HUPLWWOXQJVVWHOOHRKQH5FNPHOGXQJJHO|VFKW
9RU]HLWLJHV$XVVFKDOWHQGHVDNWLYLHUWHQ5FNUXIVHUIROJWPLWGHU7DVWHQIROJH
D


$QVDJHDEZDUWHQ
B
:LUGQDFK$NWLYLHUHQGHV5FNUXIVGHU$QUXIEHDQWZRUWHU71HW%R[HLQJH
VFKDOWHWE]Z$QUXIZHLWHUVFKDOWXQJ$:6DNWLYLHUWYHUELQGHWGLH5FNUXI
)XQNWLRQGHQ*HVSUlFKVSDUWQHUPLWGHPHQWVSUHFKHQGHQ=LHO
:HLWHUH,QIRUPDWLRQHQVLHKH%HGLHQXQJVDQOHLWXQJ´.RPIRUWOHLVWXQJVPHUNPD
OHLQ71HWµ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLWK|UHQODVVHQ
:HQQ6LHPHKUHUH+DQGJHUlWHDQJHPHOGHWKDEHQ
6LHIKUHQHLQH[WHUQHV*HVSUlFKXQGP|FKWHQDQZHVHQGH3HUVRQHQEHUHLQ
DQGHUHV+DQGJHUlWPLWK|UHQODVVHQ
#
6LHIKUHQHLQ([WHUQJHVSUlFK
6RIWWDVWH
+
GUFNHQ
'DV([WHUQJHVSUlFKZLUGªJHKDOWHQ©GHU*HVSUlFKVSDUWQHUK|UWGLHLQWHUQH
:DUWHPHORGLH
(
,QWHUQ1UGHVJHZQVFKWHQ+DQGJHUlWHVHLQJHEHQ
:HQQGHULQWHUQH7HLOQHKPHUVLFKPHOGHW
6RIWWDVWH
0,7+(,1
GUFNHQ
6LHIKUHQGDV*HVSUlFKPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUZHLWHUGHULQWHU
QH7HLOQHKPHUK|UWPLW
0LWK|UHQDXVVFKDOWHQ
6RIWWDVWH
0,7+$86
GUFNHQ
infobox
'HULQWHUQH7HLOQHKPHUK|UWQXUGHQH[WHUQHQ7HLOQHKPHU


7HOHIRQLHUHQPLW0HKUHUHQ
6LHKDEHQGLH0|JOLFKNHLWZlKUHQGHLQHV*HVSUlFKVHLQHQ]ZHLWHQ*HVSUlFKV
SDUWQHUDQ]XUXIHQ5FNIUDJHPLWGHQ]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQG
0DNHOQRGHUJOHLFK]HLWLJ'UHLHUNRQIHUHQ]]XWHOHIRQLHUHQRKQHGDVV6LHGD]X
]ZHL7HOHIRQDQVFKOVVHEHQ|WLJHQ
'LHVH0|JOLFKNHLWHQN|QQHQ6LHLP([WHUQJHVSUlFKQXUQXW]HQZHQQGLH.RP
IRUWOHLVWXQJHQLP71HW5FNIUDJH0DNHOQ'UHLHUNRQIHUHQ]$QNORSIHQEHLGHU
7HOHNRPEHDXIWUDJWXQGIU,KUHQ$QVFKOXVVDNWLYLHUWVLQG$XVNXQIWGDUEHUHU
KDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHUGHU5XIQXPPHU

,KUH0|JOLFKNHLWHQZlKUHQG6LHHLQ([WHUQJHVSUlFKIKUHQ
2KQH.RPIRUWOHLVWXQJHQLP71HW
² :lKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQDQGHUHV+DQGJHUlWDQUXIHQLQWHUQH
5FNIUDJH
² (LQH[WHUQHV*HVSUlFKDQHLQDQGHUHV+DQGJHUlWEHUJHEHQ
0LW.RPIRUWOHLVWXQJHQLP71HW
² (LQHQH[WHUQHQ=ZHLWDQUXIDQQHKPHQRGHUDEOHKQHQ
² (LQHQ]ZHLWHQH[WHUQHQ*HVSUlFKVSDUWQHUDQUXIHQH[WHUQH5FNIUDJH
² 0LWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
² 0LWEHLGHQ*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ.RQIHUHQ]
,KUH0|JOLFKNHLWHQZlKUHQG6LHHLQ,QWHUQJHVSUlFKIKUHQ
2KQH.RPIRUWOHLVWXQJHQLP71HW
² 'HQ$QUXIDQQHKPHQGDPLWGDV,QWHUQJHVSUlFKEHHQGHQ
infobox
'LH%HGLHQSUR]HGXUHQIUGLH.RPIRUWOHLVWXQJHQLP71HWN|QQHQ6LHDXVGHU
%HGLHQXQJVDQOHLWXQJ´.RPIRUWOHLVWXQJHQLP71HWµHUVHKHQHUKlOWOLFKEHLGHU
'HXWVFKHQ7HOHNRP
(LQLJH/HLVWXQJVPHUNPDOHILQGHQ6LHLQGHU/LVWHGHU6RIWWDVWH
U
RGHULP
0HQXQWHU
6WDWLRQV0DNURV

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ
6LHZROOHQZlKUHQGHLQHV([WHUQJHVSUlFKVHLQHQLQWHUQHQ7HLOQHKPHUZHQQ
PHKUHUH+DQGJHUlWHDQJHPHOGHWVLQGDQUXIHQ
D(LQHQLQWHUQHQ*HVSlFKVSDUWQHUDQUXIHQ
LQWHUQH5FNIUDJH
E(LQHQH[WHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
H[WHUQH5FNIUDJH
#
6LHIKUHQHLQH[WHUQHV*HVSUlFK
6RIWWDVWH
+
GUFNHQ
'DV([WHUQJHVSUlFKZLUGªJHKDOWHQ©GHU*HVSUlFKVSDUWQHUK|UWGLHLQWHUQH
:DUWHPHORGLH
(
,QWHUQ1UGHVLQWHUQHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
:HQQ6LHQLFKWZLVVHQEHUZHOFKHV+DQGJHUlWGHUJHZQVFKWH*HVSUlFKV
SDUWQHUJHUDGHHUUHLFKEDULVWN|QQHQ6LHPLWGHUª6WHUQ7DVWH©HLQHQ6DPPHO
UXIDXVVHQGHQ
#
6LHVSUHFKHQPLWGHPLQWHUQHQ3DUWQHU
4
,QWHUQJHVSUlFKEHHQGHQ
57DVWHGUFNHQXPGDVLQWHUQH*HVSUlFK]XEHHQGHQ
6LHVLQGZLHGHUPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
infobox
%HLHLQHPLQWHUQHQ*HVSUlFKLVWGDV$QUXIHQHLQHVZHLWHUHQLQWHUQHQ*H
VSUlFKVSDUWQHUVQLFKWP|JOLFK
#
6LHIKUHQHLQH[WHUQHV*HVSUlFK
6RIWWDVWH
U
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5¾FNIUDJH
RGHU57DVWHGUFNHQ
6RIWWDVWH
=
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU7HLOQHKPHUK|UWHLQH$QVDJH
(
5XIQXPPHUGHVH[WHUQHQ*HVSUlFKVSDUWQHUVHLQJHEHQ


=ZHLWHV*HVSUlFKZlKUHQGHLQHV*HVSUlFKVDQQHKPHQDEZHLVHQ
([WHUQJHVSUlFKZlKUHQGHLQHVLQWHUQHQ*HVSUlFKVDQQHKPHQ
=ZHLWHV([WHUQJHVSUlFKZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVDQQHKPHQ
DEZHLVHQ
#
6LHIKUHQHLQ*HVSUlFKPLWGHP]ZHLWHQ*HVSUlFKVSDUWQHU
4
*HVSUlFKPLWGHP]ZHLWHQ*HVSUlFKVSDUWQHUEHHQGHQ
7DVWHQQDFKHLQDQGHUGUFNHQ
6LHVLQGZLHGHUPLWGHP]XYRUJHKDOWHQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
infobox
:HQQ6LHGLH$XIOHJHQ7DVWHGUFNHQZlKUHQGQRFKHLQHH[WHUQH9HUELQGXQJ
LP5DKPHQGHU71HW)XQNWLRQª5FNIUDJH©JHKDOWHQZLUGHUIROJWNXU]QDFK
GHP$XIOHJHQHLQ(ULQQHUXQJVUXIPD[6HNXQGHQODQJ
#
6LHIKUHQHLQLQWHUQHV*HVSUlFK
(LQH[WHUQHU7HLOQHKPHUUXIW6LHDQ
6LHK|UHQGHQª$QNORSIWRQ©
6RIWWDVWH
$11$+0(
GUFNHQ
'DV,QWHUQJHVSUlFKZLUGJHWUHQQW
#
6LHVLQGPLWGHPDQNORSIHQGHQH[WHUQHQ$QUXIHUYHUEXQGHQ
'DV,QWHUQJHVSUlFKLVWJHWUHQQW
#
6LHIKUHQHLQH[WHUQHV*HVSUlFK
(LQ]ZHLWHUH[WHUQHU7HLOQHKPHUUXIW6LHDQ
6LHK|UHQGHQª$QNORSIWRQ©
4
$QQHKPHQ
7DVWHQQDFKHLQDQGHUGUFNHQ
#
6LHVLQGPLWGHPDQNORSIHQGHQ7HLOQHKPHUYHUEXQGHQ
,KUHUVWHV*HVSUlFKZLUGJHKDOWHQ
RGHU
4
$EZHLVHQ
7DVWHQQDFKHLQDQGHUGUFNHQ
#
6LHVHW]HQ,KUDNWXHOOHV*HVSUlFKIRUW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

*HVSUlFKLQWHUQZHLWHUJHEHQ
6LHKDEHQHLQH[WHUQHV*HVSUlFKDQJHQRPPHQXQGP|FKWHQHVLQWHUQDQHLQ
DQGHUHV+DQGJHUlWZHLWHUYHUPLWWHOQ
infobox
:ROOHQ6LHGDVHUVWH*HVSUlFKEHHQGHQXQGGDQQGHQª$QNORSIHQGHQ©DQQHK
PHQKDEHQ6LHHLQLJH6HNXQGHQGDIU=HLWDEKlQJLJYRQGHU(LQVWHOOXQJGHU
9HUPLWWOXQJVVWHOOH'UFNHQ6LHGD]XGLH$XIOHJHQ7DVWH,KU7HOHIRQNOLQJHOW
GDQQXQG6LHN|QQHQGDVªDQNORSIHQGH©*HVSUlFKDXIQHKPHQ
'HUª$QNORSIHQGH©K|UWELV]X6HNXQGHQODQJDEKlQJLJYRQGHU(LQVWHO
OXQJGHU9HUPLWWOXQJVVWHOOHGDV)UHL]HLFKHQ1HKPHQ6LHGHQ$QUXIGDQQQLFKW
DQK|UWHUGHQ%HVHW]WWRQ
#
6LHIKUHQHLQH[WHUQHV*HVSUlFK
6RIWWDVWH
+
GUFNHQ
'DV([WHUQJHVSUlFKZLUGªJHKDOWHQ©GHU*HVSUlFKVSDUWQHUK|UWGLHLQWHUQH
:DUWHPHORGLH
(
,QWHUQ1UGHVLQWHUQHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
#
6LHVSUHFKHQPLWGHPLQWHUQHQ3DUWQHU
B
$XIOHJHQ7DVWHGUFNHQ
infobox
0HOGHWVLFKGHUJHUXIHQHLQWHUQH7HLOQHKPHUQLFKWN|QQHQ6LHGDV([WHUQJH
VSUlFKDXFKGXUFK'UFNHQGHU57DVWH]XUFNKROHQ
6LHN|QQHQDXFKGLH$XIOHJHQ7DVWHGUFNHQEHYRUVLFKGHULQWHUQH7HLOQHK
PHUPHOGHW1LPPWGHULQWHUQH7HLOQHKPHUGDV([WHUQJHVSUlFKQLFKWDQHU
IROJWLQQHUKDOEYRQ6HNXQGHQHLQ:LHGHUDQUXIDQ,KUHP+DQGJHUlW


7HOHIRQLHUHQ

*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
6LHN|QQHQGDV*HVSUlFKGLUHNWEHUQHKPHQDXFKZHQQGHU$QUXIEHDQWZRUWHU
VLFKEHUHLWVDQJHVFKDOWHWKDW,KUH$QVDJHOlXIWRGHUGHU$QUXIHQGHVHLQH1DFK
ULFKWDXIVSULFKW'LH$XI]HLFKQXQJZLUGGDPLWDEJHEURFKHQ
(LQHELV]XU*HVSUlFKVEHUQDKPHDXIJHQRPPHQGH1DFKULFKWZLUGQXUGDQQ
JHVSHLFKHUWZHQQEHUHLWVPLQGHVWHQV6HNXQGHQDXIJHVSURFKHQZXUGHQ

*HVSUlFKDQGHU)HVWVWDWLRQPLWK|UHQODVVHQ
6LHIKUHQHLQH[WHUQHV*HVSUlFKXQGP|FKWHQDQZHVHQGH3HUVRQHQEHUGHQ
/DXWVSUHFKHUGHU)HVWVWDWLRQPLWK|UHQODVVHQ
D
$EQHKPHQ7DVWHGUFNHQ
6LHIKUHQGDV*HVSUlFK
#
6LHIKUHQHLQ([WHUQJHVSUlFK
6RIWWDVWH
+
GUFNHQ
'DV([WHUQJHVSUlFKZLUGªJHKDOWHQ©GHU
*HVSUlFKVSDUWQHUK|UWGLHLQWHUQH:DUWHPHORGLH
7DVWHGUFNHQ
6LHIKUHQGDV*HVSUlFKPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUZHLWHUGHU/DXW
VSUHFKHUGHU)HVWVWDWLRQLVW]XJHVFKDOWHW
0LWK|UHQDXVVFKDOWHQ
6RIWWDVWH
+
XQG7DVWHQDFKHLQDQGHUGUFNHQ
infobox
'HULQWHUQH7HLOQHKPHUNDQQQXUDQGHU)HVWVWDWLRQPLWK|UHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$QUXIEHDQWZRUWHU

1DFKULFKWHQDEK|UHQ
'LH1DFKULFKWHQZHUGHQLQGHU5HLKHQIROJHµ1HXH1DFKULFKWHQµXQGDQVFKOLH
HQG´$OWH1DFKULFKWHQµZLHGHUJHJHEHQ
$OV1DFKULFKWHQZHUGHQDOOH$XI]HLFKQXQJHQ´1DFKULFKWHQµ,QIRVµXQG´0LW
VFKQLWWHµJHVSHLFKHUW
/LHJHQQHXH1DFKULFKWHQYRUZLUGDP+DQGJHUlWZLUGGDV6RIWWDVWHQV\PERO
,
DQJH]HLJW
:LHGHUJDEHVWDUWHQ
6RIWWDVWH
+
GUFNHQ
7DVWHGUFNHQ,QWHUQ1U$QUXIEHDQWZRUWHU
7DVWHGUFNHQ
6LHK|UHQGLH+LQZHLVHXQGGLH
HUVWH1DFKULFKW
RGHU
6RIWWDVWH
,
GUFNHQ
1XUZHQQLQ$QUXIEHDQWZRUWHUXQG$QUXIHUOLVWH
(LQWUlJHYRUKDQGHQVLQG
'LVSOD\DQ]HLJH
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
$QUXIEHDQWZRUWHU

6RIWWDVWH
=
GUFNHQ
6LHK|UHQGLH+LQZHLVHXQG
GLHHUVWH1DFKULFKW
infobox
%HLDQNRPPHQGHP$QUXIZLUGGDV$EK|UHQDEJHEURFKHQ
;!.! H
'!
;<
C1
)3$' ;$,N
),."!)0*,!,
RRRRRRRRRRRRRRRR
;<
C1
),."!,'-!
;!.! H
'!
;<
C1
)3$' ;$,N


1DFKULFKWHQDQ]HLJHXQG5XIQXPPHUZlKOHQVSHLFKHUQ
:HQQGLH5XIQXPPHUGHV$QUXIHUVEHUWUDJHQZXUGHZLUGZlKUHQGGHU:LHGHU
JDEHVHLQHU1DFKULFKWDP+DQGJHUlWH'LVSOD\ª7DJ0RQDW©ª6WXQGH0LQXWH©
ª5XIQXPPHU©ª1U$Q]DKOGHU1DFKULFKWHQ©DQJH]HLJW
,VWGHU$QUXIHULQ,KUHP7HOHIRQEXFKJHVSHLFKHUWZLUGDQVWDWWGHU5XIQXPPHU
GHU1DPHDQJH]HLJW
0LWGHQ6RIWWDVWH
<
;
N|QQHQ6LHYRQ1DFKULFKW]X1DFKULFKWVSULQJHQ
6LHN|QQHQGHQ$QUXIHUVRIRUW]XUFNUXIHQ
)DOOVGHU$QUXIHUQRFKQLFKWLP7HOHIRQEXFKJHVSHLFKHUWLVWKDEHQ6LHGLH0|J
OLFKNHLWLKQLQV7HOHIRQEXFKDXI]XQHKPHQ
:lKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
5¾FNUXI

6RIWWDVWH
=
GUFNHQ
'LH5XIQXPPHUZLUGJHZlKOW
RGHU 5XIQXPPHUXQG1DPHLP7HOHIRQEXFKVSHLFKHUQ
0LW6RIWWDVWHQ
<;
ELV0HQ3XQNW
1ULQV7HOEXFK
6RIWWDVWH
=
GUFNHQ
'DV7HOHIRQEXFKZLUGJH|IIQHWGLH5XIQXPPHULVWJHVSHLFKHUW
(
1DPHQHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'LH5XIQXPPHUXQG1DPHLVWJHVSHLFKHUW
GH
GHS
;< \N
HNGN H

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ
$OOHGXUFKIKUEDUHQ)XQNWLRQHQYRQGHQ+DQGJHUlWHQIUGHQ$QUXIEHDQWZRUWHU
GHU)HVWVWDWLRQEHJLQQHQPLWGLHVHU3UR]HGXU
'DQFKN|QQHQ6LHDOOH)XQNWLRQHQGHUQDFKIROJHQGHQ7DEHOOHGXUFKIKUHQ
6RIWWDVWH
+
GUFNHQ
7DVWHGUFNHQ,QWHUQ1U$QUXIEHDQWZRUWHU
#
6LHK|UHQGLH6SUDFKKLQZHLVH
1DFKULFKWHQ
■
DQK|UHQ
5HLKHQIROJH´1HXHµGDQQ´$OWHµ
$QIDQJGHU1DFKULFKW

9RUKHULJH1DFKULFKW
1lFKVWH1DFKULFKW
$OVQHXPDUNLHUHQ
3DXVH
$EEUXFK
/|VFKHQ1DFKULFKW
■
DOOHDOWHQ
1DFKULFKWHQ
O|VFKHQ

$OOHDOWHQ1DFKULFKWHQZHUGHQJHO|VFKW²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
DXIVSUHFKHQ
1DFKULFKWDXIVSUHFKHQ1DFKULFKWHQOlQJHZLH(LQVWHOOXQJ

$QVDJHQ
$QVDJH$QVDJH+LQZHLVDQVDJH
■
DXVZlKOHQ
HLQJHVWHOOWH$QVDJH

YRUKHULJH$QVDJH
QlFKVWH$QVDJH
■
DXIQHKPHQ
$XVJHZlKOWH$QVDJH
VSUHFKHQ
6WRS
■
DQK|UHQ
$XVJHZlKOWH$QVDJH
DQK|UHQ
■
O|VFKHQ
$XVJHZlKOWH$QVDJH
O|VFKHQ
:HLWHUH)XQNWLRQHQ
■
6WDWXV
6WDWXVDEIUDJH6LHK|UHQ6SUDFKKLQZHLVH]X
(LQVWHOOXQJHQGHV$QUXIEHDQWZRUWHUV
:HLWHUVSULQJHQLQGHQ+LQZHLVHQ
6WDWXVDQVDJHDEEUHFKHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
$QUXIEHDQWZRUWHUHLQDXV
VFKDOWHQ
■
'LUHNWDQVSUHFKHQ
%HLIUHLJHJHEHQHP'LUHNWDQVSUHFKHQ
'LUHNWDQVSUHFKHQYHUOlQJHUQQDFK
6HNXQGHQ
'LUHNWDQVSUHFKHQEHHQGHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

,Q%HWULHEQHKPHQ

+DQGJHUlWDQDEPHOGHQ
6LHN|QQHQGDV+DQGJHUlWDQGHQ.RPIRUWWHOHIRQHQ6LQXV33$DQPHO
GHQ%LV]XVHFKV+DQGJHUlWHN|QQHQDQGLHVHQ6WDWLRQHQDQJHPHOGHWZHUGHQ
+DQGJHUlWHN|QQHQDQELV]XYLHU6WDWLRQHQDQJHPHOGHWZHUGHQ
$QPHOGHQ
$P.RPIRUWWHOHIRQ$QPHOGH3UR]HGXUVWDUWHQ0HQ(LQVWHOOXQJHQ6\VWHP
(LQVWHOO*HUlWDQPHOGHQ2.
$P+DQGJHUlW)ROJHQGH3UR]HGXULQQHUKDOEYRQ6HNXQGHQGXUFKIKUHQ
,P'LVSOD\VWHKWª$QPHOGHQ"©
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
)UHLH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]%
,QWHUQ
,QWHUQXVZ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1UDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
RGHU
?
,P'LVSOD\VWHKWª6WDWLRQ;©RGHUª6XFKH6WDWLRQ©
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
0HQ3XQNWGHUJHZQVFKWHQ6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ

0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QPHOGHQ
6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
)UHLH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]%
,QWHUQ
,QWHUQXVZ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1UDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
ª,QWHUQHUIROJUHLFKDQJHPHOGHW©ZLUGDQJH]HLJW
infobox
'DV*HUlWVXFKW6HNXQGHQQDFKGHUDQPHOGHEHUHLWHQ)HVWVWDWLRQ)ROJHQ
GH)HKOHUPHOGXQJLVWLP$EODXIP|JOLFK
ª.HLQHIUHLH,QWHUQ1U©²(VLVWNHLQH,QWHUQ5XIQXPPHUPHKUIUHLGHU$QPHO
GHYRUJDQJZLUGVRIRUWDEJHEURFKHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQLHUHQ

,QWHUQH5XIQXPPHUZlKOHQ

5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
6RIWWDVWH
+
GUFNHQ
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
 .RPIRUWWHOHIRQELV +DQGJHUlWH $%XQG
 6DPPHOUXI
RGHU
6RIWWDVWH
Ö/,67(
GUFNHQ
$OOHZlKOEDUHQ,QWHUQ1UZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1URGHUª$QDOOH©DXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIHUOLVWH
9YRU$QUXIHUOLVWH (LQWUlJHYRUKDQGHQRKQH NHLQH(LQWUlJH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ$QUXIHUDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ


5FNUXIEHL%HVHW]WDNWLYLHUHQ
'LHVH0|JOLFKNHLWN|QQHQ6LHQXUQXW]HQZHQQGLH/HLVWXQJIU,KUHQ$QVFKOXVV
DNWLYLHUWLVW$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHU
GHU5XIQXPPHUXQWHU77DVWH
'HU*HVSUlFKVSDUWQHUGHQ6LHDQUXIHQWHOHIRQLHUWJHUDGH:HQQGHU*H
VSUlFKVSDUWQHUDXIJHOHJWKDWOlXWHW,KU+DQGJHUlW%HWlWLJHQ6LHGLH$EQHKPHQ
7DVWHZLUGGLH9HUELQGXQJDXWRPDWLVFKKHUJHVWHOOW+HEHQ6LHQLFKWDEZLUGGHU
5FNUXIJHO|VFKW
*
'HUDQJHUXIHQH*HVSUlFKVSDUWQHUIKUWJHUDGHHLQ*HVSUlFK
6LHK|UHQGHQ%HVHW]WWRQ
:DUWHQELVVLFKQDFKFD6HNXQGHQGLH'LVSOD\DQ]HLJHlQGHUW
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5¾FNUXI
6RIWWDVWH
=
GUFNHQ
6LHK|UHQHLQH$QVDJHEHUGLHHLQJHVWHOOWH)XQNWLRQ
B
$XIOHJHQ7DVWHGUFNHQ
5FNUXIDQQHKPHQ
6REDOGGHUJHZQVFKWH*HVSUlFKVWHLOQHKPHUIUHLLVWOlXWHW,KU+DQGJHUlW
D
$EQHKPHQ7DVWHGUFNHQ
'HU*HVSUlFKVSDUWQHUZLUGDXWRPDWLVFKDQJHUXIHQ
infobox
(VNDQQMHZHLOVQXUHLQ5FNUXIDNWLYLHUWZHUGHQ-HGHZHLWHUH$NWLYLHUXQJZLUG
YRQGHU9HUPLWWOXQJVVWHOOHDEJHOHKQW
'LH$NWLYLHUXQJª5FNUXIEHL%HVHW]W©EOHLEWFD0LQXWHQEHVWHKHQ'DQDFK
ZLUGVLHJHO|VFKW
'HU5FNUXIZLUGDXFKJHO|VFKWZHQQGHUJHUXIHQH*HVSUlFKVSDUWQHURGHU
6LHGHQ5FNUXIQLFKWDQQHKPHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

*HVSUlFKDP.RPIRUWWHOHIRQPLWK|UHQODVVHQ
6LHIKUHQHLQ([WHUQJHVSUlFKXQGZROOHQ3HUVRQHQDP.RPIRUWWHOHIRQPLWK|
UHQODVVHQ

$QRQ\P$QUXIHQ&/,5
:HQQ6LHGLHhEHUPLWWOXQJ,KUHU5XIQXPPHUEHLGHU'HXWVFKHQ7HOHNRPEHDXI
WUDJWKDEHQN|QQHQ6LHGLHhEHUPLWWOXQJ,KUHU5XIQXPPHUIUGHQQlFKVWHQ$Q
UXIXQWHUGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
0LWK¸UHQ
6RIWWDVWH
=
GUFNHQ
'HU/DXWVSUHFKHUGHV.RPIRUWWHOHIRQVLVWHLQJHVFKDOWHW
0LWK|UHQEHHQGHQ
6RIWWDVWHQ
ÖÖ$86ÖÖ
GUFNHQ
infobox
:LUGGHU+|UHUDP.RPIRUWWHOHIRQDEJHKREHQN|QQHQ6LHHLQ'UHLHUJHVSlFK
IKUHQ
D
$EQHKPHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQV0DNURV
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QRQ\PWHPSRU¦U
6RIWWDVWH
=
GUFNHQ
&RGH
ZLUGJHVHQGHW
(
5XIQXPPHUHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
5XIQXPPHUZLUGJHVHQGHW


5DXPK|UHQRGHU*HJHQVSUHFKHQ
:HQQ6LHGDV5DXPK|UHQ*HJHQVSUHFKHQLQ,KUHP.RPIRUWWHOHIRQIUHLJHJHEHQ
KDEHQN|QQHQ6LHLQGHQ5DXPK|UHQ]%]XU%DE\EHUZDFKXQJRGHUVSUH
FKHQLQGHPGDV.RPIRUWWHOHIRQVWHKW
%HLP*HJHQVSUHFKHQN|QQHQGLHLP5DXPEHILQGOLFKHQ3HUVRQHQ,KQHQDXFK
DQWZRUWHQ
infobox
1DFKGHP*HVSUlFKZLUGGLH(LQVWHOOXQJZLHGHU]XUFNJHVHW]W,KUHPQlFK
VWHQ*HVSUlFKVSDUWQHUZLUG,KUH5XIQXPPHUZLHGHUEHUPLWWHOW
6RIWWDVWH
+
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5DXPK¸UHQ
RGHU
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HJHQVSUHFKHQ
6RIWWDVWH
=
GUFNHQ
'DV0LNURIRQRGHUGLH)UHLVSUHFKHLQULFKWXQJLP.RPIRUWWHOHIRQLVW
HLQJHVFKDOWHW
6LHN|QQHQLQGHQ5DXPK|UHQRGHUK|UHQXQGVSUHFKHQ
5DXPK|UHQRGHU*HJHQVSUHFKHQEHHQGHQ
6RIWWDVWH
ÖÖ$86ÖÖ
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

71HW)XQNWLRQHQHLQDXVVFKDOWHQ
6LHN|QQHQ71HW/HLVWXQJVPHUNPDOHLQ,KUHP+DQGJHUlWH0HQDXIUXIHQDXV
ZlKOHQXQGGLH&RGHVVHQGHQ
'LHVH71HW/HLVWXQJHQPVVHQEHLGHU'HXWVFKHQ7HOHNRPEHDXIWUDJWZHUGHQ
$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHUGHU5XI
QXPPHU
8QWHUGHP0HQ3XQNWª6WDWLRQV0DNURV©ZHUGHQDOOHYRUHLQJHVWHOOWHQ71HW
)XQNWLRQHQXQGGLHYRQ,KQHQVHOEVWHLQJHJHEHQHQ0DNURVGHU0DNUR7DVWHLP
.RPIRUWWHOHIRQDQJH]HLJW
)XQNWLRQDXIUXIHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQV0DNURV
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH)XQNWLRQDXVZlKOHQ
9RUHLQJHVWHOOWH$XVZDKO
$QNORSIHQDXV
$QNORSIHQHLQ
$QRQ\PWHPSRUlU
1HW]6SHUUHDXV
1HW]6SHUUHHLQ
5FNUXIDXV
8PO6RIRUWDXV$:6VRIRUW
8PO6RIRUWHLQ$:6VRIRUW
9HUER:DKODXV9HUELQGXQJRKQH:DKO
9HUER:DKOHLQ9HUELQGXQJRKQH:DKO
6RIWWDVWH
=
GUFNHQ
6LHK|UHQGLH$QVDJH
(
$EKlQJLJYRQ)XQNWLRQ
5XIQXPPHUHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
6LHK|UHQGLH$QVDJH
B
$XIOHJHQ7DVWHGUFNHQ


7HOHIRQLHUHQPLW0HKUHUHQ

:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ
$EKlQJLJGDYRQRE6LHHLQLQWHUQHVRGHUHLQH[WHUQHV*HVSUlFKIKUHQVLQGIU
GHQ$QUXIHLQHVZHLWHUHQ*HVSUlFKVSDUWQHUVGUHL)lOOH]XXQWHUVFKHLGHQ
■
6LHUXIHQZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQHQH[WHUQHQ*HVSUlFKV
SDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHVLQWHUQHQ*HVSUlFKVHLQHQH[WHUQHQ
*HVSUlFKVSDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQHQLQWHUQHQ*HVSUlFKV
SDUWQHUDQ
(LQHQH[WHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
H[WHUQH5FNIUDJH

*
6LHIKUHQHLQ
H[WHUQHV
*HVSUlFK
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5¾FNIUDJH
6RIWWDVWH
=
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWHLQH$QVDJH
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHP]ZHLWHQH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
RGHU
6LHIKUHQHLQ
LQWHUQHV
*HVSUlFK
6RIWWDVWH
5&.)5
GUFNHQ
'DV,QWHUQJHVSUlFKZLUGJHKDOWHQ
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
(LQHQLQWHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
LQWHUQH5FNIUDJH
:HQQVLFKGHU*HVSUlFKVSDUWQHUQLFKWPHOGHW
6RIWWDVWH
=85&.
GUFNHQ
RGHU
ZHQQVLFKGLH'LVSOD\DQ]HLJHJHlQGHUWKDW
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
=ZHLWHV*HVSUlFKEHHQGHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
*
6LHIKUHQ
H[WHUQHV
*HVSUlFK
6RIWWDVWH
,17
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UHLQJHEHQ
*
6LHVLQGPLWGHPLQWHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
:HQQVLFKGHU*HVSUlFKVSDUWQHUQLFKWPHOGHW
6RIWWDVWH
=85&.
GUFNHQ
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
,QWHUQ*HVSUlFKEHHQGHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
infobox
:HQQ6LHZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQHQLQWHUQHQ*HVSUlFKVSDUW
QHUDQUXIHQZROOHQXQG6LHQLFKWZLVVHQEHUZHOFKHV7HOHIRQGHUJHZQVFKWH
*HVSUlFKVSDUWQHUJHUDGHHUUHLFKEDULVWN|QQHQ6LHPLWGHU6RIWWDVWH
Ö/,67(Ö
0HQ3XQNW
$QDOOH
XQG6RIWWDVWH
=
GHQ*HVSUlFKVSDUWQHUVXFKHQ
6LHN|QQHQPLWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGRGHUJOHLFK]HLWLJ
VSUHFKHQVLHKH6HLWH


=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHKPHQDEZHLVHQ
:lKUHQGHLQHV*HVSUlFKVLQWHUQRGHUH[WHUQZLUGHLQZHLWHUHU$QUXIGXUFK
HLQHQ6LJQDOWRQª$QNORSIWRQ©LP+DQGJHUlWDQJHNQGLJW6LHN|QQHQGDQQHQW
VFKHLGHQRE6LHGHQ]ZHLWHQ$QUXIDQQHKPHQRGHUDEZHLVHQ
([WHUQUXIZlKUHQGHLQHVLQWHUQHQ*HVSUlFKVDQQHKPHQ
([WHUQUXIZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVDQQHKPHQDEZHLVHQ
*
6LHIKUHQLQWHUQHV*HVSUlFK
6RIWWDVWH
$11$+0(
GUFNHQ
*
6LHVLQGPLWGHPDQNORSIHQGHQ$QUXIHUYHUEXQGHQ
'DVHUVWH*HVSUlFKZLUGJHKDOWHQ
*
6LHIKUHQH[WHUQHV*HVSUlFK
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QNORSIDQQHKPHQ
6RIWWDVWH
=
GUFNHQ
'DV*HVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWHLQH$QVDJH
*
6LHVLQGPLWGHPDQNORSIHQGHQ$QUXIHUYHUEXQGHQ
'DVHUVWH*HVSUlFKZLUGJHKDOWHQ
RGHU $EZHLVHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QNORSIDEZHLVHQ
6RIWWDVWH
=
GUFNHQ
'HU´$QNORSIHQGHµK|UWGHQ%HVHW]WWRQZHQQNHLQDQGHUHV*HUlWDQJHVFKDOWHW
LVW
*
(UVWHV*HVSUlFKIRUWVHW]HQ
infobox
:ROOHQ6LHGDVHUVWH*HVSUlFKEHHQGHQXQGGHQª$QNORSIHQGHQ©DQQHKPHQ
EHWlWLJHQ6LHGLH$XIOHJHQ7DVWH,KU+DQGJHUlWOlXWHWGDQQXQG6LHN|QQHQ
GHQ$QUXIDQQHKPHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
(LQ*HVSUlFKEHHQGHQ

0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
'UHLHUNRQIHUHQ]KHUVWHOOHQ
6LHN|QQHQHLQJHKDOWHQHV*HVSUlFKLQHLQH'UHLHUNRQIHUHQ]HLQEH]LHKHQ
*
6LHIKUHQHLQ*HVSUlFKXQGKDOWHQHLQ]ZHLWHV6LHZROOHQMHW]WPLWEHLGHQ*H
VSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
!YRU7HOHIRQQXPPHU1DPH YHUEXQGHQRKQH ZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ*HVSUlFKHQKLQXQGKHUVFKDOWHQ
0LW6RIWWDVWHQ
<
;
GDV]XEHHQGHQGH*HVSUlFKDXVZlKOHQ
!YRU7HOHIRQQXPPHU1DPH YHUEXQGHQRKQH ZLUGJHKDOWHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
*
'LH9HUELQGXQJEHVWHKWQXUQRFKPLWGHPYRUKHUJHKDOWHQHQ*HVSUlFKVSDUW
QHU
*
6LHIKUHQHLQ*HVSUlFKXQGªKDOWHQ©HLQ]ZHLWHV
?
0HQWDVWHGUFNHQ
0HQ3XQNW
HU.RQIHUHQ]
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
$OOH*HVSUlFKVSDUWQHUN|QQHQJOHLFK]HLWLJPLWHLQDQGHUVSUHFKHQ
infobox
:lKUHQGHLQHU'UHLHUNRQIHUHQ]HUIROJWNHLQH*HVSUlFKVGDXHU.RVWHQDQ]HL
JHGLH=lKOXQJOlXIWZHLWHU

'UHLHUNRQIHUHQ]EHHQGHQXQGPLWGHQ*HVSUlFKVSDUWQHUQZLHGHU
DEZHFKVHOQGVSUHFKHQ0DNHOQ
9HUELQGXQJPLWHLQHP*HVSUlFKVSDUWQHUEHHQGHQ 
'UHLHUNRQIHUHQ]EHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
=XPªJHKDOWHQHQ©*HVSUlFKXPVFKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ3DUWQHU
KLQXQGKHUVFKDOWHQ0DNHOQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
GHQ*HVSUlFKVSDUWQHUDXVZlKOHQPLWGHPGDV*H
VSUlFKEHHQGHWZHUGHQVROO
!YRU7HOHIRQQXPPHU1DPH
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
*
'LH9HUELQGXQJPLWGHPDXVJHZlKOWHQ*HVSUlFKVSDUWQHUZLUGEHHQGHW
GLH9HUELQGXQJPLWGHPYRUKHUJHKDOWHQHQ*HVSUlFKVSDUWQHUKHUJHVWHOOW
infobox
-HGHU]XJHVFKDOWHWH.RQIHUHQ]WHLOQHKPHUNDQQVHLQH7HLOQDKPHMHGHU]HLWPLW
$XIOHJHQGHV+|UHUVEHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
B
$XIOHJHQ7DVWHGUFNHQ
'LH'UHLHUNRQIHUHQ]PLWEHLGHQ*HVSUlFKVSDUWQHUQLVWEHHQGHW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

*HVSUlFKZHLWHUJHEHQ
6LHIKUHQHLQH[WHUQHV*HVSUlFKXQGP|FKWHQHVDQHLQHQDQGHUHQLQWHUQHQ
*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQRGHU6LHIKUHQHLQLQWHUQHV*HVSUlFKXQG
P|FKWHQHVDQHLQHQH[WHUQHQ*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQ
*
6LHIKUHQHLQ*HVSUlFK
([WHUQJHVSUlFKQDFK,QWHUQZHLWHUJHEHQ
6RIWWDVWH
$
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
RGHU
,QWHUQJHVSUlFKQDFK([WHUQZHLWHUJHEHQ
6RIWWDVWH
5&.)5
GUFNHQ
(
5XIQXPPHUHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
infobox
0HOGHWVLFKGHUJHUXIHQH7HLOQHKPHUQLFKWN|QQHQ6LHGDV*HVSUlFKDXFK
GXUFK'UFNHQGHU6RIWWDVWH
=85&.
]XUFNKROHQ
(LQLQWHUQHV*HVSUlFKN|QQHQ6LHQLFKWLQWHUQZHLWHUYHUPLWWHOQ
1XUZHQQ6LHHLQ
H[WHUQHV
*HVSUlFKQDFK
LQWHUQ
ZHLWHUJHEHQ
6LHN|QQHQDXIOHJHQEHYRUVLFKGHULQWHUQH*HVSUlFKVSDUWQHUPHOGHW1LPPW
GHULQWHUQH*HVSUlFKVSDUWQHUGHQ$QUXIQLFKWDQHUIROJWLQQHUKDOEYRQ6H
NXQGHQHLQ:LHGHUDQUXI
+DQGJHUlWHPLWª1XU,QWHUQ©%HUHFKWLJXQJN|QQHQNHLQ*HVSUlFKZHLWHUJH
EHQ


$QUXIEHDQWZRUWHU

*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
6LHN|QQHQGDV*HVSUlFKEHUQHKPHQDXFKZHQQGHU$QUXIEHDQWZRUWHUVLFK
EHUHLWVDQJHVFKDOWHWKDW,KUH$QVDJHOlXIWRGHUGHU$QUXIHQGHVHLQH1DFKULFKW
DXIVSULFKW'LH$XI]HLFKQXQJZLUGGDPLWDEJHEURFKHQ(LQHELV]XU*HVSUlFKV
EHUQDKPHDXIJHQRPPHQGH1DFKULFKWZLUGQXUGDQQJHVSHLFKHUWZHQQ
EHUHLWVPLQGHVWHQV6HNXQGHQDXIJHVSURFKHQZXUGHQ
%HLGHULQGLUHNWHQ*HVSUlFKVEHUQDKPHN|QQHQ6LHVLFKQDFKGHU%HWlWLJXQJ
GHU$EQHKPHQ7DVWHHQWVFKHLGHQRE6LHGDV*HVSUlFKDQQHKPHQZROOHQ

1DFKULFKWHQDEK|UHQ
$OV$XI]HLFKQXQJHQZHUGHQDOOH´1DFKULFKWHQµ,QIRVµXQG´0LWVFKQLWWHµJHVSHL
FKHUW
/LHJHQQHXH$XI]HLFKQXQJHQYRUZLUGLP'LVSOD\GDV6RIWWDVWHQV\PERO
,
DQJH]HLJW
'LH5HLKHQIROJHEHLGHU:LHGHUJDEHDOOHU$XI]HLFKQXQJHQLVW
 1HXH,QIRV
 1HXH1DFKULFKWHQ0LWVFKQLWWH
 $OWH,QIRV
 $OWH1DFKULFKWHQ0LWVFKQLWWH
D
%HLGLUHNWHUhEHUQDKPH/LHIHUHLQVWHOOXQJ
$EQHKPHQ7DVWHGUFNHQ
6LHIKUHQGDV*HVSUlFK
RGHU %HLLQGLUHNWHUhEHUQDKPH
D
$EQHKPHQ7DVWHGUFNHQ
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
#
6LHIKUHQGDV*HVSUlFK

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
:LHGHUJDEHVWDUWHQ
5XIQXPPHUDXVGHU1DFKULFKWHQOLVWHZlKOHQ
6LHN|QQHQEHLEHUPLWWHOWHU5XIQXPPHUGHQ$QUXIHU]XUFNUXIHQ
6RIWWDVWH
,
GUFNHQ
6LHK|UHQGLH+LQZHLVHXQGGLHHUVWH1DFKULFKW
RGHU
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
$QUXIEHDQWZRUW
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
1DFKULFKWHQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
1HXH1DFKULFKWHQ
ZLUGDQJH]HLJW
RGHU
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$OOH1DFKULFKWHQ
6RIWWDVWH
=
GUFNHQ
6LHK|UHQGLH+LQZHLVHXQGGLHHUVWH1DFKULFKW
infobox
%HLDQNRPPHQGHP$QUXIZLUGGDV$EK|UHQDEJHEURFKHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH1DFKULFKWDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
:LHGHUJDEHZLUGXQWHUEURFKHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1XPPHUZ¦KOHQ
6RIWWDVWH
=
GUFNHQ
'LH5XIQXPPHUZLUGJHZlKOW
GH
;!.!;$, HS 
;<
N
GNGNGG 
GH
;!.!;$, HS 
;<
N
GNGNGG 


(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ
$OOHGXUFKIKUEDUHQ)XQNWLRQHQYRQGHQ+DQGJHUlWHQIUGHQ$QUXIEHDQWZRUWHU
GHV.RPIRUWWHOHIRQVEHJLQQHQPLWGLHVHU3UR]HGXU
'DQDFKN|QQHQ6LHDOOH)XQNWLRQHQGHUQDFKIROJHQGHQ7DEHOOHGXUFKIKUHQ
6RIWWDVWH
+
GUFNHQ
7DVWHGUFNHQ,QWHUQ1U$QUXIEHDQWZRUWHU
#
6LHK|UHQGLH6SUDFKKLQZHLVH
$XI]HLFKQXQJHQ1DFKULFKWHQ,QIRVDQK|UHQ
■
DOOHQHXHQ

■
DOOH
:lKUHQGGHU:LHGHUJDEH :lKUHQGGHU:LHGHUJDEHSDXVH
$QIDQJGHU$XI]HLFKQXQJ
$QIDQJGHU$XI]HLFKQXQJ

9RUKHULJH$XI]HLFKQXQJ

9RUKHULJH$XI]HLFKQXQJ
:LHGHUJDEHIRUWVHW]HQ
:LHGHUJDEHIRUWVHW]HQ
1lFKVWH$XI]HLFKQXQJ
1lFKVWH$XI]HLFKQXQJ
:LHGHUJDEHSDXVH
$EEUXFK²EHUHLW]X
ZHLWHUHQ)XQNWLRQVDXIUXIHQ

$OV´1HXµPDUNLHUHQ
$OV´1HXµPDUNLHUHQ

(LQ]HOQH$XI]HLFKQXQJ
O|VFKHQIUHLJHJHEHQ"

(LQ]HOQH$XI]HLFKQXQJ
O|VFKHQIUHLJHJHEHQ"
$OOHDOWHQ$XI]HLFKQXQJHQO|VFKHQZHQQIUHLJHJHEHQ
■
DOOHDOWHQ

$QVDJHQ
■
DXVZlKOHQ

$QVDJH
1DFKGHU$XVZDKO

$QVDJH
$EEUXFKEHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ

+LQZHLVDQVDJH

!,)! !).)#

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
■
DXIQHKPHQ

$QVDJHDXIVSUHFKHQ
1DFKGHU$XIQDKPH

$QVDJHDXIVSUHFKHQ
6WRS %HHQGHQ

+LQZHLVDQVDJHDXIVSUHFKHQ

6FKOXDQVDJHDXIVSUHFKHQ
■
DQK|UHQ

$QVDJHDQK|UHQ

$QVDJHDQK|UHQ
6WRS %HHQGHQ

+LQZHLVDQVDJHDQK|UHQ

6FKOXDQVDJHDQK|UHQ
,QIRV
■
DXIQHKPHQ

,QIRVDXIVSUHFKHQ
6WRS %HHQGHQ
:HLWHUH)XQNWLRQHQ
■
6WDWXV
6WDWXVDEIUDJH6LHK|UHQ6SUDFKKLQZHLVH]X
(LQVWHOOXQJHQGHV$QUXIEHDQWZRUWHUVXQG]X
7DVWHQIXQNWLRQHQ
■
+LOIH

+LOIVKLQZHLVHIU7DVWHQIXQNWLRQHQ
$QUXIEHDQWZRUWHUDXVVFKDOWHQHLQVFKDOWHQ
$QVDJHQDEEUHFKHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
5DXPK|UHQ

:HQQ5DXPK|UHQIUHLJHJHEHQ
5DXPK|UHQEHHQGHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
*HJHQVSUHFKHQ

:HQQ*HJHQVSUHFKHQIUHLJHJHEHQ
*HJHQVSUHFKHQEHHQGHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
)HUQEHGLHQXQJ
EHHQGHQ
B
$XIOHJHQ7DVWHGUFNHQ


,Q%HWULHEQHKPHQ

+DQGJHUlWDQDEPHOGHQ
6LHN|QQHQGDV+DQGJHUlWDQGHQ.RPIRUWWHOHIRQHQ6LQXV3LVGQ3$LVGQ
DQPHOGHQ%LV]XVHFKV+DQGJHUlWHN|QQHQDQGLHVHQ6WDWLRQHQDQJHPHOGHW
ZHUGHQ
+DQGJHUlWHN|QQHQDQELV]XYLHU6WDWLRQHQDQJHPHOGHWZHUGHQ
$QPHOGHQ
$P.RPIRUWWHOHIRQ$QPHOGH3UR]HGXUVWDUWHQ0HQ(LQVWHOOXQJHQ6\VWHP
(LQVWHOO*HUlWDQPHOGHQ2.
$P+DQGJHUlW)ROJHQGH3UR]HGXULQQHUKDOEYRQ6HNXQGHQGXUFKIKUHQ
,P'LVSOD\VWHKWª$QPHOGHQ"©
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
)UHLH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]%
,QWHUQ
,QWHUQXVZ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1UDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
RGHU
?
,P'LVSOD\VWHKWª6WDWLRQ;©RGHUª6XFKH6WDWLRQ©
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
0HQ3XQNWGHUJHZQVFKWHQ6WDWLRQDXVZlKOHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QPHOGHQ
6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
)UHLH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]%
,QWHUQ
,QWHUQXVZ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1UDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
ª,QWHUQHUIROJUHLFKDQJHPHOGHW©ZLUGDQJH]HLJW
infobox
'DV*HUlWVXFKW6HNXQGHQQDFKGHUDQPHOGHEHUHLWHQ)HVWVWDWLRQ)ROJHQ
GH)HKOHUPHOGXQJLVWLP$EODXIP|JOLFK
ª.HLQHIUHLH,QWHUQ1U©²(VLVWNHLQH,QWHUQ5XIQXPPHUPHKUIUHLGHU$QPHO
GHYRUJDQJZLUGVRIRUWDEJHEURFKHQ


7HOHIRQLHUHQ

,QWHUQH5XIQXPPHUZlKOHQ

5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
6RIWWDVWH
+
GUFNHQ
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
 .RPIRUWWHOHIRQELV +DQGJHUlWH $%XQG
 6DPPHOUXI
RGHU
6RIWWDVWH
/,67(
GUFNHQ
$OOHZlKOEDUHQ,QWHUQ1UZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1URGHUª$QDOOH©DXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIHUOLVWH
9YRU$QUXIHUOLVWH (LQWUlJHYRUKDQGHQRKQH NHLQH(LQWUlJH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ$QUXIHUDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
6RIWWDVWH
=
GUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

5FNUXIEHL%HVHW]WDNWLYLHUHQ
'HU*HVSUlFKVSDUWQHUGHQ6LHDQUXIHQWHOHIRQLHUWJHUDGH:HQQGHU*H
VSUlFKVSDUWQHUDXIJHOHJWKDWOlXWHW,KU7HOHIRQXQGGDV'LVSOD\]HLJWª5FNUXI
YRQIU©DQ+HEHQ6LHGDQQGHQ+|UHUDEZLUGGLH9HUELQGXQJDXWRPD
WLVFKKHUJHVWHOOW+HEHQ6LHQLFKWDEZLUGGHU5FNUXIJHO|VFKW(VNDQQMHGHULQ
WHUQH7HLOQHKPHUHLQHQ5FNUXIHLQOHLWHQ

*HVSUlFKDP.RPIRUWWHOHIRQPLWK|UHQODVVHQ
6LHIKUHQHLQ([WHUQJHVSUlFKXQGZROOHQ3HUVRQHQDP.RPIRUWWHOHIRQPLWK|
UHQODVVHQ
*
'HUDQJHUXIHQH*HVSUlFKVSDUWQHUIKUWJHUDGHHLQ*HVSUlFK
6LHK|UHQGHQ%HVHW]WWRQ
6RIWWDVWH
5&.58)
GUFNHQ
,P'LVSOD\ZLUGZLUGGLH4XLWWXQJDQJH]HLJW
B
$XIOHJHQWDVWHGUFNHQ
5FNUXIDQQHKPHQ
6REDOGGHUJHZQVFKWH*HVSUlFKVWHLOQHKPHUIUHLLVWOlXWHW,KU+DQGJHUlW
D
$EQHKPHQ7DVWHGUFNHQ
'HU*HVSUlFKVSDUWQHUZLUGDXWRPDWLVFKDQJHUXIHQ
infobox
(VNDQQMHZHLOVSUR061QXUHLQ5FNUXIDNWLYLHUWZHUGHQ-HGHZHLWHUH$NWLYLH
UXQJZLUGYRQGHU9HUPLWWOXQJVVWHOOHDEJHOHKQW
'LH$NWLYLHUXQJª5FNUXIEHL%HVHW]W©EOHLEWFD0LQXWHQEHVWHKHQ'DQDFK
ZLUGVLHJHO|VFKW
'HU5FNUXIZLUGDXFKJHO|VFKWZHQQGHUJHUXIHQH*HVSUlFKVSDUWQHURGHU
6LHGHQ5FNUXIQLFKWDQQHKPHQ
?
0HQWDVWHGUFNHQ


$QRQ\P$QUXIHQ&/,5
6LHN|QQHQGLHhEHUPLWWOXQJ,KUHU5XIQXPPHUIUGHQQlFKVWHQ$QUXIXQWHU
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
0LWK¸UHQ
6RIWWDVWH
=
GUFNHQ
'HU/DXWVSUHFKHUGHV.RPIRUWWHOHIRQVLVWHLQJHVFKDOWHW
0LWK|UHQEHHQGHQ
6RIWWDVWHQ
ÖÖ$86ÖÖ
GUFNHQ
infobox
:LUGGHU+|UHUDP.RPIRUWWHOHIRQDEJHKREHQN|QQHQ6LHHLQ'UHLHUJHVSlFK
IKUHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
$QRQ\PWHPSRU¦U
ZLUGDQJH]HLJW
9YRU$QRQ\PWHPSRUlU (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
5XIQXPPHUHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

5DXPK|UHQRGHU*HJHQVSUHFKHQ
:HQQ6LHGDV5DXPK|UHQ*HJHQVSUHFKHQLQ,KUHP.RPIRUWWHOHIRQIUHLJHJHEHQ
KDEHQN|QQHQ6LHLQGHQ5DXPK|UHQ]%]XU%DE\EHUZDFKXQJRGHUVSUH
FKHQLQGHPGDV.RPIRUWWHOHIRQVWHKW
%HLP*HJHQVSUHFKHQN|QQHQGLHLP5DXPEHILQGOLFKHQ3HUVRQHQ,KQHQDXFK
DQWZRUWHQ
infobox
1DFKGHP*HVSUlFKZLUGGLH(LQVWHOOXQJZLHGHU]XUFNJHVHW]W,KUHPQlFK
VWHQ*HVSUlFKVSDUWQHUZLUG,KUH5XIQXPPHUZLHGHUEHUPLWWHOW5XIHQ6LHMH
GRFKGLHJHZlKOWH5XIQXPPHUDXVGHU:DKOZLHGHUKROXQJVOLVWHHUQHXWDXIVR
HUIROJWGLHVHU$QUXIQLFKWDQRQ\P
6RIWWDVWH
+
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
5DXPK¸UHQ
RGHU
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HJHQVSUHFKHQ
6RIWWDVWH
=
GUFNHQ
'DV0LNURIRQRGHUGLH)UHLVSUHFKHLQULFKWXQJLP.RPIRUWWHOHIRQLVW
HLQJHVFKDOWHW
6LHN|QQHQLQGHQ5DXPK|UHQRGHUK|UHQXQGVSUHFKHQ
5DXPK|UHQRGHU*HJHQVSUHFKHQEHHQGHQ
6RIWWDVWH
ÖÖ$86ÖÖ
GUFNHQ


7HOHIRQLHUHQ,6'1

(LJHQH5XIQXPPHU061IUQlFKVWHV*HVSUlFKIHVWOHJHQ
+DEHQ6LHPHKUHUHHLJHQH5XIQXPPHUQ061LQ,KUHP.RPIRUWWHOHIRQHLQJH
ULFKWHWN|QQHQ6LHIUGDVQlFKVWH*HVSUlFKHLQHGLHVHU5XIQXPPHUQ061DOV
6HQGH061]%IUJHWUHQQWH.RVWHQHUIDVVXQJDXVZlKOHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
061Q¦FKVW:DKO
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH061DXVZlKOHQ
9YRU061QlFKVW:DKO DXVJHZlKOWRKQH QLFKWDXVJHZlKOW
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
5XIQXPPHUHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$QUXIZHLWHUOHLWHQ
'LHVH0|JOLFKNHLWN|QQHQ6LHQXUQXW]HQZHQQGLH/HLVWXQJIU,KUHQ$QVFKOXVV
DNWLYLHUWLVW$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHU
GHU5XIQXPPHUXQWHU77DVWH
:HQQ,KU+DQGJHUlWOlXWHWN|QQHQ6LHGHQ$QUXIRKQHVLFK]XPHOGHQDQHLQH
EHOLHELJH5XIQXPPHUZHLWHUOHLWHQ
6LHKDEHQKDEHQGUHL0|JOLFKNHLWHQ]XU:HLWHUOHLWXQJ
■
]XYRUKHUHLQJHJHEHQHU=LHOUXIQXPPHULP.RPIRUWWHOHIRQJHVSHLFKHUW
■
]XHLQHP7HOHIRQEXFK(LQWUDJ
■
GXUFK(LQJDEHHLQHUQHXHQ=LHOUXIQXPPHU
$QUXIZHLWHUOHLWHQ]XUJHVSHLFKHUWHQ=LHOUXIQXPPHULP7HOHIRQ
$QUXIZHLWHUOHLWHQ]XHLQHP7HOHIRQEXFKHLQWUDJ
QXUIUGLHVHQ$QUXI
,KU+DQGJHUlWOlXWHW
6RIWWDVWH
:(,7(5/
GUFNHQ
=LHOUXIQXPPHUZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
'HU$QUXIZLUGZHLWHUJHOHLWHW
,KU+DQGJHUlWOlXWHW
6RIWWDVWH
:(,7(5/
GUFNHQ
-
7HOHIRQEXFK7DVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ(LQWUDJDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
'HU$QUXIZLUGZHLWHUJHOHLWHW

$QUXIZHLWHUOHLWHQPLW(LQJDEHQHLQHUQHXHQ=LHOUXIQXPPHU
QXUIUGLHVHQ$QUXI

.H\SDGWHPSRUlU
'LH)XQNWLRQª.H\SDG©HUP|JOLFKW,KQHQGLH6WHXHUXQJYRQEHVWLPPWHQ'LHQVW
PHUNPDOHQ]%DXFKDQ7HOHIRQDQODJHQGXUFK(LQJDEHYRQ=HLFKHQXQG=LI
IHUQIROJHQ:HLWHUH,QIRUPDWLRQHQ]XU.H\SDG6WHXHUXQJHUKDOWHQ6LHEHLGHU
'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHUGHU5XIQXPPHU
XQWHU77DVWH
.H\SDGZlKUHQGHLQHU9HUELQGXQJHLQVFKDOWHQ
,KU+DQGJHUlWOlXWHW
6RIWWDVWH
:(,7(5/
GUFNHQ
6RIWWDVWH
1(8(15
GUFNHQ
(
=LHOUXIQXPPHUHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'HU$QUXIZLUGZHLWHUJHOHLWHW
infobox
6SHLFKHUQHLQHU=LHOUXIQXPPHUVLHKH%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQ
*
:lKUHQGHLQHU9HUELQGXQJ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
.H\SDGHLQ"
6RIWWDVWH
=
GUFNHQ
0HQ3XQNWZHFKVHOWDXI
.H\SDGDXV"
(
.H\SDG=HLFKHQIROJH&RGHHLQJHEHQ
infobox
$XVVFKDOWHQHUIROJWPLWGHUJOHLFKHQ3UR]HGXU

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
.H\SDGQXUIUGLHQlFKVWH9HUELQGXQJHLQVFKDOWHQ
$OOH:DKO]HLFKHQZHUGHQEHLPQlFKVWHQ9HUELQGXQJVDXIEDXLP.H\SDG3URWR
NROOJHVHQGHW

*HVSUlFKSDUNHQ
6LHIKUHQHLQ*HVSUlFKXQGZROOHQGDV*HVSUlFK]%LQHLQHPDQGHUHQ5DXP
IRUWVHW]HQ
'D]XN|QQHQ6LH
■
*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLWJOHLFKHU061IRUWVHW]HQ
■
GDV*HVSUlFKDQHLQHPDQGHUHQ,6'17HOHIRQ,KUHV7HOHIRQDQVFKOXVVHV
ZLHGHUDXIQHKPHQ
■
GDV*HVSUlFKDPJOHLFKHQ+DQGJHUlWIRUWVHW]HQQDFKGHP6LH]XHLQHU
DQGHUHQ6WDWLRQ,KUHV7HOHIRQDQVFKOXVVHVPLWJOHLFKHU061JHZHFKVHOW
VLQGVLHKH6HLWH
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
.H\SDGWHPSRU¦U
9YRU.H\SDGWHPSRUlU (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
.H\SDG=HLFKHQIROJH&RGHHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ
infobox
2EHLQ*HVSUlFK
PLW
RGHU
RKQH
3DUNNHQQ]LIIHUJHSDUNWZLUGLVWYRQGHP,6'1
7HOHIRQJOHLFKH061]XJHRUGQHWDEKlQJLJDQGHPGDV*HVSUlFKZLHGHU
DXIJHQRPPHQZLUG
%HDFKWHQ6LHKLHU]XGLH%HGLHQXQJVDQOHLWXQJ,KUHV,6'17HOHIRQV

*HVSUlFKSDUNHQ
*HSDUNWHV*HVSUlFKZLHGHUDXIQHKPHQ
*
6LHIKUHQHLQ*HVSUlFK
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HVSU¦FKSDUNHQ
6RIWWDVWH
=
GUFNHQ
(
*JI3DUNNHQQ]LIIHUHLQRGHU]ZHLVWHOOLJHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
B
$XIOHJHQ7DVWHGUFNHQ
*HVSUlFKZLUGFD0LQXWHQODQJJHSDUNW
D
$EQHKPHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HVSUHQWSDUNHQ
6RIWWDVWH
=
GUFNHQ
(
(YWO]XYRUYHUJHEHQH3DUNNHQQ]LIIHUHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
6LHVLQGZLHGHUPLWGHP*HVSUlFKVSDUWQHUYHUEXQGHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQLHUHQPLW0HKUHUHQ

:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ
$EKlQJLJGDYRQRE6LHHLQLQWHUQHVRGHUHLQH[WHUQHV*HVSUlFKIKUHQVLQGIU
GHQ$QUXIHLQHVZHLWHUHQ*HVSUlFKVSDUWQHUVGUHL)lOOH]XXQWHUVFKHLGHQ
■
6LHUXIHQZlKUHQGHLQHV
H[WHUQHQ
*HVSUlFKVHLQHQ
H[WHUQHQ
*HVSUlFKV
SDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHV
LQWHUQHQ
*HVSUlFKVHLQHQ
H[WHUQHQ
*HVSUlFKVSDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHV
H[WHUQHQ
*HVSUlFKVHLQHQ
LQWHUQHQ
*HVSUlFKV
SDUWQHUDQ
(LQHQH[WHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
H[WHUQH5FNIUDJH

*
6LHIKUHQHLQ
H[WHUQHV
*HVSUlFK
?
0HQWDVWHGUFNHQ
0HQ3XQNW
5¾FNIUDJH
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWHLQH$QVDJH
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHP]ZHLWHQH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
RGHU
6LHIKUHQHLQ
LQWHUQHV
*HVSUlFK
6RIWWDVWH
5&.)5
GUFNHQ
'DV,QWHUQJHVSUlFKZLUGJHKDOWHQ
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
:HQQVLFKGHU*HVSUlFKVSDUWQHUQLFKWPHOGHW
VLHKHQlFKVWH6HLWH
6RIWWDVWH
=85&.
GUFNHQ
6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKVSDUWQHUYHUEXQGHQ

(LQHQLQWHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
LQWHUQH5FNIUDJH
=ZHLWHV*HVSUlFKEHHQGHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
*
6LHIKUHQ
H[WHUQHV
*HVSUlFK
6RIWWDVWH
,17
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UHLQJHEHQ
*
6LHVLQGPLWGHPLQWHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
,QWHUQ*HVSUlFKEHHQGHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
infobox
:HQQ6LHZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQHQLQWHUQHQ*HVSUlFKVSDUW
QHUDQUXIHQZROOHQXQG6LHQLFKWZLVVHQEHUZHOFKHV7HOHIRQGHUJHZQVFKWH
*HVSUlFKVSDUWQHUJHUDGHHUUHLFKEDULVWN|QQHQ6LHPLWGHU6RIWWDVWH
Ö/,67(Ö
0HQ3XQNW
$QDOOH
XQG6RIWWDVWH
=
GHQ*HVSUlFKVSDUWQHUVXFKHQ
6LHN|QQHQPLWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGRGHUJOHLFK]HLWLJ
VSUHFKHQVLHKH6HLWH

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHKPHQDEZHLVHQ
:lKUHQGHLQHV*HVSUlFKVLQWHUQRGHUH[WHUQZLUGHLQZHLWHUHU$QUXIGXUFK
HLQHQ6LJQDOWRQª$QNORSIWRQ©LP+|UHUDQJHNQGLJW6LHN|QQHQGDQQHQW
VFKHLGHQRE6LHGHQ]ZHLWHQ$QUXIDQQHKPHQRGHUDEZHLVHQ
$QUXIZlKUHQGHLQHVLQ
WHUQHQH[WHUQHQ*HVSUlFKVDQQHKPHQ
DEZHLVHQ
*
6LHIKUHQ*HVSUlFK
6RIWWDVWH
$11$+0(
GUFNHQ
*
'LH9HUELQGXQJPLWGHPQHXHQ$QUXIHULVWKHUJHVWHOOW
'DVHUVWH*HVSUlFKZLUGJHKDOWHQ
RGHU $EZHLVHQ
6RIWWDVWH
$%:(,6
GUFNHQ
'HU$QUXIZLUGDEJHZLHVHQ
*
(UVWHV*HVSUlFKIRUWVHW]HQ
infobox
=XU)XQNWLRQª$EZHLVHQ©EHDFKWHQ6LHGLH7HOHIRQ(LQVWHOOXQJHQ´061EH
VHW]WµXQG´$QNORSIHQHLQDXVVFKDOWHQµDP.RPIRUWWHOHIRQ
,VWGHU$QUXIEHDQWZRUWHULP6LQXV3$LVGQHLQJHVFKDOWHWQLPPWGLHVHUJJI
YRUGHPª$EZHLVHQ©GHQ$QUXIHQWJHJHQ
:ROOHQ6LHGDVHUVWH*HVSUlFKEHHQGHQXQGGHQª$QNORSIHQGHQ©DQQHKPHQ
GUFNHQ6LHGLH$XIOHJHQ7DVWH,KU+DQGJHUlWOlXWHWGDQQXQG6LHN|QQHQGHQ
$QUXIDQQHKPHQ
6LHN|QQHQPLWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGRGHUJOHLFK]HLWLJ
VSUHFKHQVLHKH6HLWH


0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
(LQ*HVSUlFKEHHQGHQ

0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
'UHLHUNRQIHUHQ]KHUVWHOOHQ
6LHN|QQHQHLQHQ$QNORSIHQGHQRGHUHLQJHKDOWHQHV*HVSUlFKLQHLQH'UHLHU
NRQIHUHQ]HLQEH]LHKHQ
*
6LHIKUHQHLQ*HVSUlFKXQGKDOWHQHLQ]ZHLWHV6LHZROOHQMHW]WPLWEHLGHQ*H
VSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
!YRU7HOHIRQQXPPHU1DPH YHUEXQGHQRKQH ZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ*HVSUlFKHQKLQXQGKHUVFKDOWHQ
0LW6RIWWDVWHQ
<
;
GDV]XEHHQGHQGH*HVSUlFKDXVZlKOHQ
!YRU7HOHIRQQXPPHU1DPH YHUEXQGHQRKQH ZLUGJHKDOWHQ
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
*
'LH9HUELQGXQJEHVWHKWQXUQRFKPLWGHPDQGHUHQ*HVSUlFKVSDUWQHU
*
6LHIKUHQHLQ*HVSUlFKXQGªKDOWHQ©HLQ]ZHLWHV
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
HU.RQIHUHQ]
6RIWWDVWH
=
GUFNHQ
*
$OOH*HVSUlFKVSDUWQHUN|QQHQJOHLFK]HLWLJPLWHLQDQGHUVSUHFKHQ
infobox
:lKUHQGHLQHU'UHLHUNRQIHUHQ]HUIROJWNHLQH*HVSUlFKVGDXHU.RVWHQDQ]HL
JHGLH=lKOXQJOlXIWZHLWHU

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
'UHLHUNRQIHUHQ]EHHQGHQXQGPLWGHQ*HVSUlFKVSDUWQHUQZLHGHU
DEZHFKVHOQGVSUHFKHQ0DNHOQ
9HUELQGXQJPLWHLQHP*HVSUlFKVSDUWQHUEHHQGHQ 
'UHLHUNRQIHUHQ]EHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
=XPªJHKDOWHQHQ©*HVSUlFKXPVFKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ3DUWQHU
KLQXQGKHUVFKDOWHQ0DNHOQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
GHQ*HVSUlFKVSDUWQHUDXVZlKOHQPLWGHPGDV*H
VSUlFKEHHQGHWZHUGHQVROO
!YRU7HOHIRQQXPPHU1DPH
6RIWWDVWH
Ö!(1'(Ö
GUFNHQ
*
'LH9HUELQGXQJPLWGHPDXVJHZlKOWHQ*HVSUlFKVSDUWQHUZLUGEHHQGHW
'LH9HUELQGXQJPLWGHPYRUKHUJHKDOWHQHQ*HVSUlFKVSDUWQHUKHUJHVWHOOW
infobox
-HGHU]XJHVFKDOWHWH.RQIHUHQ]WHLOQHKPHUNDQQVHLQH7HLOQDKPHMHGHU]HLWPLW
$XIOHJHQGHV+|UHUVEHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
B
$XIOHJHQ7DVWHGUFNHQ
'LH'UHLHUNRQIHUHQ]PLWEHLGHQ*HVSUlFKVSDUWQHUQLVWEHHQGHW


*HVSUlFKZHLWHUJHEHQ
6LHIKUHQHLQH[WHUQHV*HVSUlFKXQGP|FKWHQHVDQHLQHQDQGHUHQLQWHUQHQ
*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQRGHU6LHIKUHQHLQLQWHUQHV*HVSUlFKXQG
P|FKWHQHVDQHLQHQH[WHUQHQ*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQ
*
6LHIKUHQHLQ*HVSUlFK
([WHUQJHVSUlFKQDFK,QWHUQZHLWHUJHEHQ
6RIWWDVWH
$
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
RGHU
,QWHUQJHVSUlFKQDFK([WHUQZHLWHUJHEHQ
6RIWWDVWH
5&.)5
GUFNHQ
(
5XIQXPPHUHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
infobox
0HOGHWVLFKGHUJHUXIHQH7HLOQHKPHUQLFKWN|QQHQ6LHGDV*HVSUlFKDXFK
GXUFK'UFNHQGHU6RIWWDVWH
=85&.
]XUFNKROHQ
(LQLQWHUQHV*HVSUlFKN|QQHQ6LHQLFKWLQWHUQZHLWHUYHUPLWWHOQ
1XUZHQQ6LHHLQH[WHUQHV*HVSUlFKQDFKLQWHUQZHLWHUJHEHQ
6LHN|QQHQDXIOHJHQEHYRUVLFKGHULQWHUQH*HVSUlFKVSDUWQHUPHOGHW1LPPW
GHULQWHUQH*HVSUlFKVSDUWQHUGHQ$QUXIQLFKWDQHUIROJWLQQHUKDOEYRQ6H
NXQGHQHLQ:LHGHUDQUXI
+DQGJHUlWHPLWª1XU,QWHUQ©%HUHFKWLJXQJN|QQHQNHLQ*HVSUlFKZHLWHUJH
EHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$QUXIEHDQWZRUWHU

*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEHWULHEEHUQHKPHQ
6LHN|QQHQGDV*HVSUlFKEHUQHKPHQDXFKZHQQGHU$QUXIEHDQWZRUWHUVLFK
EHUHLWVDQJHVFKDOWHWKDW,KUH$QVDJHOlXIWRGHUGHU$QUXIHQGHVHLQH1DFKULFKW
DXIVSULFKW'LH$XI]HLFKQXQJZLUGGDPLWDEJHEURFKHQ(LQHELV]XU*HVSUlFKV
EHUQDKPHDXIJHQRPPHQGH1DFKULFKWZLUGQXUGDQQJHVSHLFKHUWZHQQ
EHUHLWVPLQGHVWHQV6HNXQGHQDXIJHVSURFKHQZXUGHQ
%HLGHULQGLUHNWHQ*HVSUlFKVEHUQDKPHN|QQHQ6LHVLFKQDFKGHU%HWlWLJXQJ
GHU$EQHKPHQ7DVWHHQWVFKHLGHQRE6LHGDV*HVSUlFKDQQHKPHQRGHUEHU
GLH]ZHLWH/HLWXQJHLQQHXHV*HSUlFKIKUHQZROOHQ

$XI]HLFKQXQJHQDEK|UHQ
$OV$XI]HLFKQXQJHQZHUGHQDOOH´1DFKULFKWHQµ,QIRVµXQG´0LWVFKQLWWHµJHVSHL
FKHUW
/LHJHQQHXH$XI]HLFKQXQJHQYRUZLUGLP'LVSOD\GDV6RIWWDVWHQV\PERO
,
DQJH]HLJW
'LH5HLKHQIROJHEHLGHU:LHGHUJDEHDOOHU$XI]HLFKQXQJHQLVW
 1HXH,QIRV
 1HXH1DFKULFKWHQ0LWVFKQLWWH
 $OWH,QIRV
 $OWH1DFKULFKWHQ0LWVFKQLWWH
D
%HLGLUHNWHUhEHUQDKPH
/LHIHUHLQVWHOOXQJ
$EQHKPHQ7DVWHGUFNHQ
6LHIKUHQGDV*HVSUlFK
RGHU %HLLQGLUHNWHUhEHUQDKPH
D
$EQHKPHQ7DVWHGUFNHQ
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
#
6LHIKUHQGDV*HVSUlFK

:LHGHUJDEHVWDUWHQ
5XIQXPPHUDXVGHU1DFKULFKWHQOLVWHZlKOHQ
6LHN|QQHQEHLEHUPLWWHOWHU5XIQXPPHUGHQ$QUXIHU]XUFNUXIHQ
6RIWWDVWH
,
GUFNHQ
6LHK|UHQGLH+LQZHLVHXQGGLHHUVWH1DFKULFKW
RGHU
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
$QUXIEHDQWZRUW
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
1DFKULFKWHQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
1HXH1DFKULFKWHQ
ZLUGDQJH]HLJW
RGHU
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$OOH1DFKULFKWHQ
6RIWWDVWH
=
GUFNHQ
6LHK|UHQGLH+LQZHLVHXQGGLHHUVWH1DFKULFKW
infobox
%HLDQNRPPHQGHP$QUXIZLUGGDV$EK|UHQDEJHEURFKHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH1DFKULFKWDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
:LHGHUJDEHZLUGXQWHUEURFKHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
1XPPHUZ¦KOHQ
6RIWWDVWH
=
GUFNHQ
'LH5XIQXPPHUZLUGJHZlKOW
GH
;!.!;$, HS 
;<
N
GNGNGG 
GH
;!.!;$, HS 
;<
N
GNGNGG 

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

(LQOHLWXQJVSUR]HGXUIUGLH%HGLHQXQJ
$OOHGXUFKIKUEDUHQ)XQNWLRQHQYRQGHQ+DQGJHUlWHQIUGHQ$QUXIEHDQWZRUWHU
GHV.RPIRUWWHOHIRQVEHJLQQHQPLWGLHVHU3UR]HGXU
'DQDFKN|QQHQ6LHDOOH)XQNWLRQHQGHUQDFKIROJHQGHQ7DEHOOHGXUFKIKUHQ
6RIWWDVWH
+
GUFNHQ
7DVWHGUFNHQ,QWHUQ1U$QUXIEHDQWZRUWHU
#
6LHK|UHQGLH6SUDFKKLQZHLVH
$XI]HLFKQXQJHQ1DFKULFKWHQ,QIRVDQK|UHQ
■
DOOHQHXHQ

■
DOOH
:lKUHQGGHU:LHGHUJDEH :lKUHQGGHU:LHGHUJDEHSDXVH
$QIDQJGHU$XI]HLFKQXQJ
$QIDQJGHU$XI]HLFKQXQJ

9RUKHULJH$XI]HLFKQXQJ

9RUKHULJH$XI]HLFKQXQJ
:LHGHUJDEHIRUWVHW]HQ
:LHGHUJDEHIRUWVHW]HQ
1lFKVWH$XI]HLFKQXQJ
1lFKVWH$XI]HLFKQXQJ
:LHGHUJDEHSDXVH
$EEUXFK²EHUHLW]X
ZHLWHUHQ)XQNWLRQVDXIUXIHQ

$OV´1HXµPDUNLHUHQ
$OV´1HXµPDUNLHUHQ

(LQ]HOQH$XI]HLFKQXQJ
O|VFKHQIUHLJHJHEHQ"

(LQ]HOQH$XI]HLFKQXQJ
O|VFKHQIUHLJHJHEHQ"
$OOHDOWHQ$XI]HLFKQXQJHQO|VFKHQZHQQIUHLJHJHEHQ
■
DOOHDOWHQ

$QVDJHQ
■
DXVZlKOHQ

$QVDJH
1DFKGHU$XVZDKO

$QVDJH
$EEUXFKEHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ

+LQZHLVDQVDJH

!,)! !).)#

■
DXIQHKPHQ

$QVDJHDXIVSUHFKHQ
1DFKGHU$XIQDKPH

$QVDJHDXIVSUHFKHQ
6WRS %HHQGHQ

+LQZHLVDQVDJHDXIVSUHFKHQ

6FKOXDQVDJHDXIVSUHFKHQ
■
DQK|UHQ

$QVDJHDQK|UHQ

$QVDJHDQK|UHQ
6WRS %HHQGHQ

+LQZHLVDQVDJHDQK|UHQ

6FKOXDQVDJHDQK|UHQ
,QIRV
■
DXIQHKPHQ

,QIRVDXIVSUHFKHQ
6WRS %HHQGHQ
:HLWHUH)XQNWLRQHQ
■
6WDWXV
6WDWXVDEIUDJH6LHK|UHQ6SUDFKKLQZHLVH]X
(LQVWHOOXQJHQGHV$QUXIEHDQWZRUWHUVXQG]X
7DVWHQIXQNWLRQHQ
■
+LOIH

+LOIVKLQZHLVHIU7DVWHQIXQNWLRQHQ
$QUXIEHDQWZRUWHUDXVVFKDOWHQHLQVFKDOWHQ
$QVDJHQDEEUHFKHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
5DXPK|UHQ

:HQQ5DXPK|UHQIUHLJHJHEHQ
5DXPK|UHQEHHQGHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
*HJHQVSUHFKHQ

:HQQ*HJHQVSUHFKHQIUHLJHJHEHQ
*HJHQVSUHFKHQEHHQGHQ²EHUHLW]XZHLWHUHQ
)XQNWLRQVDXIUXIHQ
■
)HUQEHGLHQXQJ
EHHQGHQ
B
$XIOHJHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

,Q%HWULHEQHKPHQ

+DQGJHUlWDQDEPHOGHQ
6LHN|QQHQGDV+DQGJHUlWDQGHU6WDWLRQ6LQXVLVGQDQPHOGHQ%LV]XVHFKV
+DQGJHUlWHN|QQHQDQGLHVHU6WDWLRQDQJHPHOGHWZHUGHQ
'DV+DQGJHUlWNDQQDQELV]XYLHU6WDWLRQHQDQJHPHOGHWZHUGHQ
$QPHOGHQ
$QGHU)HVWVWDWLRQ$QPHOGHWDVWHGUFNHQ/('EOLQNW
$P+DQGJHUlW)ROJHQGH3UR]HGXULQQHUKDOEYRQ6HNXQGHQGXUFKIKUHQ
,P'LVSOD\VWHKWª$QPHOGHQ"©
6RIWWDVWH
ÖÖ-$ÖÖ
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
'LHQRFKIUHLHQ,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]% 
(
(LQHGHUIUHLHQ,QWHUQ1XPPHUQHLQJHEHQ
.XU]]HLWLJZLUGª,17(51©]%ª©DQJH]HLJW
+DQGJHUlWLVWDQJHPHOGHW
RGHU
?
,P'LVSOD\VWHKWª6WDWLRQ;©
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6WDWLRQHQ
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
0HQ3XQNWGHUJHZQVFKWHQ6WDWLRQDXVZlKOHQ
6RIWWDVWH
N
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QPHOGHQ

6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ
6RIWWDVWH
=
GUFNHQ
ª$QPHOGHYRUJDQJ6WDWLRQ©ZLUGDQJH]HLJW
+DQGJHUlWV\QFKURQLVLHUWVLFKDXIGLH6WDWLRQ
'LHQRFKIUHLHQ,QWHUQ1XPPHUQZHUGHQDQJH]HLJW]% 
(
(LQHGHUIUHLHQ,QWHUQ1XPPHUQHLQJHEHQ
.XU]]HLWLJZLUGª,17(51©]%ª©DQJH]HLJW
+DQGJHUlWLVWDQJHPHOGHW
infobox
'DV*HUlWVXFKW6HNXQGHQQDFKGHUDQPHOGHEHUHLWHQ)HVWVWDWLRQ)ROJHQ
GH)HKOHUPHOGXQJLVWLP$EODXIP|JOLFK
ª.HLQHIUHLH,QWHUQ1U©²(VLVWNHLQH,QWHUQ5XIQXPPHUPHKUIUHLGHU$QPHO
GHYRUJDQJZLUGVRIRUWXQWHUEURFKHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$EPHOGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ

7DVWHQQDFKHLQDQGHUGUFNHQ
6RIWWDVWH
=
GUFNHQ
(
6\VWHP3,1HLQJHEHQ,P/LHIHU]XVWDQGLVWGLHVª©
6RIWWDVWH
=
GUFNHQ
$QJHPHOGHWH,QWHUQ1XPPHUQZHUGHQDQJH]HLJW
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
'DV*HUlWPLWGHUHLQJHJHEHQHQ,QWHUQ1ULVWDEJHPHOGHW
infobox
'LHQLFKWDEJHPHOGHWHQ+DQGJHUlWHEHKDOWHQLKUH,QWHUQ1U
0LWGHP+DQGJHUlW6LQXV.N|QQHQ6LHMHGHVDQGHUH+DQGJHUlWDEPHOGHQ


7HOHIRQLHUHQ

,QWHUQH5XIQXPPHUZlKOHQ

5XIQXPPHUDXVGHU$QUXIHUOLVWHZlKOHQ
6RIWWDVWH
+
GUFNHQ
(
*HZQVFKWH,QWHUQ1UHLQJHEHQ
RGHU
6RIWWDVWH
Ö/,67(Ö
GUFNHQ
$OOHZlKOEDUHQ,QWHUQ1UZHUGHQDQJH]HLJW
0LW6RIWWDVWHQ
<
;
JHZQVFKWH,QWHUQ1UDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIHUOLVWH
9YRU$QUXIHUOLVWH (LQWUlJHYRUKDQGHQRKQH NHLQH(LQWUlJH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ$QUXIHUDXVZlKOHQ
D
$EQHKPHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

5FNUXIEHL%HVHW]WDNWLYLHUHQ
'HU*HVSUlFKVSDUWQHUGHQ6LHDQUXIHQWHOHIRQLHUWJHUDGH:HQQGHU*H
VSUlFKVSDUWQHUDXIJHOHJWKDWOlXWHW,KU7HOHIRQXQGGDV'LVSOD\]HLJWª5FNUXI
YRQIU©DQ+HEHQ6LHGDQQGHQ+|UHUDEZLUGGLH9HUELQGXQJDXWRPD
WLVFKKHUJHVWHOOW+HEHQ6LHQLFKWDEZLUGGHU5FNUXIJHO|VFKW(VNDQQMHGHULQ
WHUQH7HLOQHKPHUHLQHQ5FNUXIHLQOHLWHQ
*
'HUDQJHUXIHQH*HVSUlFKVSDUWQHUIKUWJHUDGHHLQ*HVSUlFK
6LHK|UHQGHQ%HVHW]WWRQ
6RIWWDVWH
5&.58)
GUFNHQ
6LHK|UHQHLQH$QVDJHEHUGLHHLQJHVWHOOWH)XQNWLRQ
B
$XIOHJHQ7DVWHGUFNHQ
5FNUXIDQQHKPHQ
6REDOGGHUJHZQVFKWH*HVSUlFKVWHLOQHKPHUIUHLLVWOlXWHW,KU7HOHIRQ
D
$EQHKPHQ7DVWHGUFNHQ
'HU*HVSUlFKVSDUWQHUZLUGDXWRPDWLVFKDQJHUXIHQ
infobox
(VNDQQMHZHLOVSUR061QXUHLQ5FNUXIDNWLYLHUWZHUGHQ-HGHZHLWHUH$NWLYLH
UXQJZLUGYRQGHU9HUPLWWOXQJVVWHOOHDEJHOHKQW
'LH$NWLYLHUXQJª5FNUXIEHL%HVHW]W©EOHLEWFD0LQXWHQEHVWHKHQ'DQDFK
ZLUGVLHJHO|VFKW
'HU5FNUXIZLUGDXFKJHO|VFKWZHQQGHUJHUXIHQH*HVSUlFKVSDUWQHURGHU
6LHGHQ5FNUXIQLFKWDQQHKPHQ


$QRQ\P$QUXIHQ&/,5
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0HQ3XQNW
$QRQ\PWHPSRU¦U
ZLUGDQJH]HLJW
9YRU$QRQ\PWHPSRUlU (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
5XIQXPPHUHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ
infobox
1DFKGHP*HVSUlFKZLUGGLH(LQVWHOOXQJZLHGHU]XUFNJHVHW]W,KUHPQlFK
VWHQ*HVSUlFKVSDUWQHUZLUG,KUH5XIQXPPHUZLHGHUEHUPLWWHOW5XIHQ6LHMH
GRFKGLHJHZlKOWH5XIQXPPHUDXVGHU:DKOZLHGHUKROXQJVOLVWHHUQHXWDXIVR
HUIROJWGLHVHU$QUXIQLFKWDQRQ\P

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQLHUHQ,6'1

(LJHQH5XIQXPPHU061IUQlFKVWHV*HVSUlFKIHVWOHJHQ
$XVGHQLQ,KUHU)HVWVWDWLRQHLQJHWUDJHQHQHLJHQH5XIQXPPHUQ061N|QQHQ
6LHIUGDVQlFKVWH*HVSUlFKHLQHGLHVHU5XIQXPPHUQ061DOV6HQGH061
]%IUJHWUHQQWH.RVWHQHUIDVVXQJDXVZlKOHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
061Q¦FKVW:DKO
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWH061DXVZlKOHQ
9YRU061QlFKVW:DKO DXVJHZlKOWRKQH QLFKWDXVJHZlKOW
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
5XIQXPPHUHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ


$QUXIZHLWHUOHLWHQ
'LHVH0|JOLFKNHLWN|QQHQ6LHQXUQXW]HQZHQQGLH/HLVWXQJIU,KUHQ$QVFKOXVV
DNWLYLHUWLVW$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHU
GHU5XIQXPPHUXQWHU77DVWH
:HQQ,KU+DQGJHUlWOlXWHWN|QQHQ6LHGHQ$QUXIRKQHVLFK]XPHOGHQDQHLQH
EHOLHELJH5XIQXPPHUZHLWHUOHLWHQ
6LHKDEHQKDEHQGUHL0|JOLFKNHLWHQ]XU:HLWHUOHLWXQJ
■
GXUFK(LQJDEHHLQHUQHXHQ=LHOUXIQXPPHU
■
]XYRUKHUHLQJHJHEHQHQ=LHOUXIQXPPHULP7HOHIRQV\VWHPJHVSHLFKHUW
■
]XHLQHP7HOHIRQEXFK(LQWUDJ
$QUXIZHLWHUOHLWHQPLW(LQJDEHHLQHUQHXHQ=LHOUXIQXPPHU
$QUXIZHLWHUOHLWHQ]XUJHVSHLFKHUWHQ=LHOUXIQXPPHU
?
,KU+DQGJHUlWOlXWHW
0HQWDVWHGUFNHQ
0HQ3XQNW
:HLWHUOHLWHQ
ZLUGDQJH]HLJW
6RIWWDVWH
1(8(15
GUFNHQ
(
=LHOUXIQXPPHUHLQJHEHQ
(YWOELVKHULJH5XIQXPPHUPLW6RIWWDVWH
:
O|VFKHQ
6RIWWDVWH
N
GUFNHQ
0HQ3XQNW
(LQWUDVLFKHUQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
=LHOUXIQXPPHUZLUGJHVSHLFKHUWXQGHU$QUXIZHLWHUJHOHLWHW
?
,KU+DQGJHUlWOlXWHW
0HQWDVWHGUFNHQ
0HQ3XQNW
:HLWHUOHLWHQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
=LHOUXIQXPPHUZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
'HU$QUXIZLUGZHLWHUJHOHLWHW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
$QUXIZHLWHUOHLWHQ]XHLQHP7HOHIRQEXFKHLQWUDJ
QXUIUGLHVHQ$QUXI

.H\SDG
'LH)XQNWLRQª.H\SDG©HUP|JOLFKW,KQHQGLH6WHXHUXQJYRQEHVWLPPWHQ'LHQVW
PHUNPDOHQ]%DXFKDQ7HOHIRQDQODJHQGXUFK(LQJDEHYRQ=HLFKHQXQG=LI
IHUQIROJHQ:HLWHUH,QIRUPDWLRQHQ]XU.H\SDG6WHXHUXQJHUKDOWHQ6LHEHLGHU
'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHUGHU5XIQXPPHU
XQWHU77DVWH
.H\SDGZlKUHQGHLQHU9HUELQGXQJHLQVFKDOWHQ
?
,KU+DQGJHUlWOlXWHW
0HQWDVWHGUFNHQ
0HQ3XQNW
:HLWHUOHLWHQ
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
=LHOUXIQXPPHUZLUGDQJH]HLJW
-
7HOHIRQEXFK7DVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
JHZQVFKWHQ(LQWUDJDXVZlKOHQ
6RIWWDVWH
=
GUFNHQ
'HU$QUXIZLUGZHLWHUJHOHLWHW
*
:lKUHQGHLQHU9HUELQGXQJ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
.H\SDGHLQ"
6RIWWDVWH
=
GUFNHQ
0HQ3XQNWZHFKVHOWDXI
.H\SDGDXV"
(
.H\SDG=HLFKHQIROJH&RGHHLQJHEHQ
infobox
$XVVFKDOWHQHUIROJWPLWGHUJOHLFKHQ3UR]HGXU

.H\SDGQXUIUGLHQlFKVWH9HUELQGXQJHLQVFKDOWHQ
$OOH:DKO]HLFKHQZHUGHQEHLPQlFKVWHQ9HUELQGXQJVDXIEDXLP.H\SDG3URWR
NROOJHVHQGHW

*HVSUlFKSDUNHQ
6LHIKUHQHLQ*HVSUlFKXQGZROOHQGDV*HVSUlFK]%LQHLQHPDQGHUHQ5DXP
IRUWVHW]HQ
'D]XN|QQHQ6LH
■
GDV*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLWJOHLFKHU061IRUWVHW]HQ
■
GDV*HVSUlFKDQHLQHPDQGHUHQ,6'17HOHIRQ,KUHV7HOHIRQDQVFKOXVVHV
ZLHGHUDXIQHKPHQ
■
GDV*HVSUlFKDPJOHLFKHQ+DQGJHUlWIRUWVHW]HQQDFKGHP6LH]XHLQHU
DQGHUHQ)HVWVWDWLRQ,KUHV7HOHIRQDQVFKOXVVHVPLWJOHLFKHU061
JHZHFKVHOWVLQGVLHKH6HLWH
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
6HUYLFH
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIYRUEHUHLW
6RIWWDVWH
=
GUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
7HPS.H\SDG
9YRU7HPS.H\SDG (,1RKQH $86
6RIWWDVWH
=
GUFNHQ
XP]ZLVFKHQ(,1XQG$86KLQXQGKHU]XVFKDOWHQXQGGDPLWHLQ]XVWHOOHQ
B
$XIOHJHQ7DVWHGUFNHQ
(
.H\SDG=HLFKHQIROJH&RGHHLQJHEHQ
D
$EQHKPHQ7DVWHGUFNHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
*HVSUlFKSDUNHQ
*HSDUNWHV*HVSUlFKZLHGHUDXIQHKPHQ
infobox
2EHLQ*HVSUlFK
PLW
RGHU
RKQH
3DUNNHQQ]LIIHUJHSDUNWZLUGLVWYRQGHP,6'1
7HOHIRQJOHLFKH061]XJHRUGQHWDEKlQJLJDQGHPGDV*HVSUlFKZLHGHU
DXIJHQRPPHQZLUG%HDFKWHQ6LHKLHU]XGLH%HGLHQXQJVDQOHLWXQJ,KUHV,6'1
7HOHIRQV
$QHLQHP7HOHIRQDQGHQDQDORJHQ$QVFKOVVHQN|QQHQJHSDUNWH*HVSUlFKH
QLFKWZLHGHUDXIJHQRPPHQZHUGHQ
*
6LHIKUHQHLQ*HVSUlFK
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HVSU¦FKSDUNHQ
6RIWWDVWH
=
GUFNHQ
(
*JI3DUNNHQQ]LIIHUHLQRGHU]ZHLVWHOOLJHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
B
$XIOHJHQ7DVWHGUFNHQ
*HVSUlFKZLUGFD0LQXWHQODQJJHSDUNW
D
$EQHKPHQ7DVWHGUFNHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
*HVSUHQWSDUNHQ
6RIWWDVWH
=
GUFNHQ
(
(YWO]XYRUYHUJHEHQH3DUNNHQQ]LIIHUHLQJHEHQ
6RIWWDVWH
=
GUFNHQ
6LHVLQGZLHGHUPLWGHP*HVSUlFKVSDUWQHUYHUEXQGHQ


)DQJVFKDOWXQJ
%HNRPPHQ6LHHLQHQE|VZLOOLJHQ$QUXIN|QQHQ6LHGDV6SHLFKHUQGHU$QUXIHU
5XIQXPPHULQGHU9HUPLWWOXQJVVWHOOHYHUDQODVVHQ
'LHVH0|JOLFKNHLWN|QQHQ6LHQXUQXW]HQZHQQGLH/HLVWXQJIU,KUHQ$QVFKOXVV
DNWLYLHUWLVW$XVNXQIWHUKDOWHQ6LHEHLGHU'HXWVFKHQ7HOHNRP]XP1XOOWDULIXQWHU
GHU5XIQXPPHUXQWHU77DVWH
:lKUHQGRGHUVRIRUWQDFKHLQHP*HVSUlFK
*
(VKDQGHOWVLFKXPHLQHQE|VZLOOLJHQ$QUXI
'HU$QUXIHUJLEWVLFKQLFKW]XHUNHQQHQDQRQ\PHU$QUXI
:lKUHQGRGHUVRIRUWQDFKGHPGHU$QUXIHUDXIJHOHJWKDW
'LH9HUELQGXQJGDUIQLFKWJHWUHQQWZHUGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
$QUXIHUPLWWHOQ
6RIWWDVWH
=
GUFNHQ
infobox
'LH,GHQWLIL]LHUXQJHUIROJWLQGHU9HUPLWWOXQJVVWHOOHXQGZLUGGRUWXQWHU$QJDEH
YRQ5XIQXPPHUGHV$QUXIHQGHQ=HLWXQG'DWXPDXIJH]HLFKQHW'HU/LVWHQ
DXVGUXFNZLUG,KQHQVSlWHUYRQGHU'HXWVFKHQ7HOHNRP]XJHVWHOOW

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HOHIRQLHUHQPLW0HKUHUHQ

:lKUHQGHLQHV*HVSUlFKVHLQHQZHLWHUHQ*HVSUlFKVSDUWQHUDQUXIHQ
$EKlQJLJGDYRQRE6LHHLQLQWHUQHVRGHUHLQH[WHUQHV*HVSUlFKIKUHQVLQGIU
GHQ$QUXIHLQHVZHLWHUHQ*HVSUlFKVSDUWQHUVGUHL)lOOH]XXQWHUVFKHLGHQ
■
6LHUXIHQZlKUHQGHLQHV
H[WHUQHQ
*HVSUlFKVHLQHQ
H[WHUQHQ
*HVSUlFKV
SDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHV
LQWHUQHQ
*HVSUlFKVHLQHQ
H[WHUQHQ
*HVSUlFKVSDUWQHUDQ
■
6LHUXIHQZlKUHQGHLQHV
H[WHUQHQ
*HVSUlFKVHLQHQ
LQWHUQHQ
*HVSUlFKV
SDUWQHUDQ
(LQHQH[WHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
H[WHUQH5FNIUDJH

*
6LHIKUHQHLQ
H[WHUQHV
*HVSUlFK
?
0HQWDVWHGUFNHQ
0HQ3XQNW
5¾FNIUDJH
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWHLQH$QVDJH
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHP]ZHLWHQH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
RGHU
6LHIKUHQHLQ
LQWHUQHV
*HVSUlFK
6RIWWDVWH
5&.)5
GUFNHQ
'DV,QWHUQJHVSUlFKZLUGJHKDOWHQ
(
([WHUQH5XIQXPPHUGHV]ZHLWHQ*HVSUlFKVSDUWQHUVHLQJHEHQ
'LH5XIQXPPHUQEHUQDKPHDXVGHP7HOHIRQEXFKLVWP|JOLFK
*
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
:HQQVLFKGHU*HVSUlFKVSDUWQHUQLFKWPHOGHW
6RIWWDVWH
=85&.
GUFNHQ
6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKVSDUWQHUYHUEXQGHQ

(LQHQLQWHUQHQ*HVSUlFKVSDUWQHUDQUXIHQ
LQWHUQH5FNIUDJH
=ZHLWHV*HVSUlFKEHHQGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(QGH
6RIWWDVWH
=
GUFNHQ
'LHDNWLYH9HUELQGXQJZLUGJHWUHQQW6LHVLQGPLWGHPYRUKHULJHQ*HVSUlFKV
SDUWQHUYHUEXQGHQ
*
6LHIKUHQ
H[WHUQHV
*HVSUlFK
6RIWWDVWH
,17
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UVWHOOLJHLQJHEHQ
*
6LHVLQGPLWGHPLQWHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
,QWHUQ*HVSUlFKEHHQGHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(QGH
6RIWWDVWH
=
GUFNHQ
6LHVLQGPLWGHPH[WHUQHQ*HVSUlFKVSDUWQHUYHUEXQGHQ
infobox
:HQQ6LHZlKUHQGHLQHVH[WHUQHQ*HVSUlFKVHLQHQLQWHUQHQ*HVSUlFKVSDUW
QHUDQUXIHQZROOHQXQG6LHQLFKWZLVVHQEHUZHOFKHV+DQGJHUlW7HOHIRQGHU
JHZQVFKWH*HVSUlFKVSDUWQHUJHUDGHHUUHLFKEDULVWN|QQHQ6LHPLWGHU6RIW
WDVWH
Ö/,67(Ö
0HQ3XQNW
$QDOOH
XQG6RIWWDVWH
=
GHQ*HVSUlFKVSDUWQHU
VXFKHQ
6LHN|QQHQPLWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGRGHUJOHLFK]HLWLJ
VSUHFKHQVLHKH6HLWH

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

=ZHLWHQ$QUXIZlKUHQGHLQHV*HVSUlFKVDQQHKPHQDEZHLVHQ
:lKUHQGHLQHV*HVSUlFKVLQWHUQRGHUH[WHUQZLUGHLQZHLWHUHU$QUXIGXUFK
HLQHQ6LJQDOWRQª$QNORSIWRQ©LP+|UHUDQJHNQGLJW6LHN|QQHQGDQQHQW
VFKHLGHQRE6LHGHQ]ZHLWHQ$QUXIDQQHKPHQRGHUDEZHLVHQ
$QUXIZlKUHQGHLQHVLQ
WHUQHQH[WHUQHQ*HVSUlFKVDQQHKPHQ
DEZHLVHQ
*
6LHIKUHQ*HVSUlFK
6RIWWDVWH
$11$+0(
GUFNHQ
*
'LH9HUELQGXQJPLWGHPQHXHQ$QUXIHULVWKHUJHVWHOOW
'DVHUVWH*HVSUlFKZLUGJHKDOWHQ
RGHU $EZHLVHQ
6RIWWDVWH
$%:(,6
GUFNHQ
'HU$QUXIZLUGDEJHZLHVHQ
*
(UVWHV*HVSUlFKIRUWVHW]HQ
infobox
=XU)XQNWLRQª$EZHLVHQ©EHDFKWHQ6LHGLH6\VWHP(LQVWHOOXQJHQ´061EH
VHW]Wµ´$OOH$EZHLVHQµXQG´$QNORSIHQHLQDXVVFKDOWHQµ
:ROOHQ6LHGDVHUVWH*HVSUlFKEHHQGHQXQGGHQª$QNORSIHQGHQ©DQQHKPHQ
GUFNHQ6LHGLH$XIOHJHQ7DVWH,KU+DQGJHUlWOlXWHWGDQQXQG6LHN|QQHQGHQ
$QUXIDQQHKPHQ
6LHN|QQHQPLWEHLGHQ*HVSUlFKVSDUWQHUQDEZHFKVHOQGRGHUJOHLFK]HLWLJ
VSUHFKHQVLHKH6HLWH


0LW]ZHL*HVSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
(LQ*HVSUlFKEHHQGHQ

0LW]ZHL*HVSUlFKVSDUWQHUQJOHLFK]HLWLJVSUHFKHQ'UHLHUNRQIHUHQ]
'UHLHUNRQIHUHQ]KHUVWHOOHQ
6LHN|QQHQHLQHQ$QNORSIHQGHQRGHUHLQJHKDOWHQHV*HVSUlFKLQHLQH'UHLHU
NRQIHUHQ]HLQEH]LHKHQ
*
6LHIKUHQHLQ*HVSUlFKXQGKDOWHQHLQ]ZHLWHV6LHZROOHQMHW]WPLWEHLGHQ*H
VSUlFKVSDUWQHUQDEZHFKVHOQGVSUHFKHQ0DNHOQ
!YRU7HOHIRQQXPPHU1DPH YHUEXQGHQRKQH ZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ*HVSUlFKHQKLQXQGKHUVFKDOWHQ
?
0HQWDVWHGUFNHQ
0LW6RIWWDVWHQ
<
;
ELV0HQ3XQNW
(QGH
6RIWWDVWH
=
GUFNHQ
'LHDNWLYH9HUELQGXQJZLUGJHWUHQQW
*
'LH9HUELQGXQJEHVWHKWQXUQRFKPLWGHPDQGHUHQ*HVSUlFKVSDUWQHU
*
6LHIKUHQHLQ*HVSUlFKXQGªKDOWHQ©HLQ]ZHLWHV
6RIWWDVWH
ÖÖ.21)Ö
GUFNHQ
*
$OOH*HVSUlFKVSDUWQHUN|QQHQJOHLFK]HLWLJPLWHLQDQGHUVSUHFKHQ
infobox
:lKUHQGHLQHU'UHLHUNRQIHUHQ]HUIROJWNHLQH*HVSUlFKVGDXHU.RVWHQDQ]HL
JHGLH=lKOXQJOlXIWZHLWHU

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
'UHLHUNRQIHUHQ]EHHQGHQXQGPLWGHQ*HVSUlFKVSDUWQHUQZLHGHU
DEZHFKVHOQGVSUHFKHQ0DNHOQ
9HUELQGXQJPLWHLQHP*HVSUlFKVSDUWQHUEHHQGHQ 
'UHLHUNRQIHUHQ]EHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
=XPªJHKDOWHQHQ©*HVSUlFKXPVFKDOWHQ
0LW6RIWWDVWHQ
<
;
]ZLVFKHQGHQ3DUWQHU
KLQXQGKHUVFKDOWHQ0DNHOQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
6RIWWDVWH
(,1=(/1
GUFNHQ
(VZLUG]XGHP7HLOQHKPHUJHZHFKVHOW]XGHPYRUGHU.RQIHUHQ]GLH9HUELQ
GXQJEHVWDQGGDV]ZHLWH*HVSUlFKZLUGJHKDOWHQ
0LW6RIWWDVWHQ
<
;
GHQ*HVSUlFKVSDUWQHUDXVZlKOHQPLWGHPGDV*H
VSUlFKEHHQGHWZHUGHQVROO
!YRU7HOHIRQQXPPHU1DPH
?
0HQWDVWHGUFNHQ
0HQ3XQNW
(QGH
ZLUGDQJH]HLJW
6RIWWDVWH
=
GUFNHQ
*
'LH9HUELQGXQJPLWGHPDXVJHZlKOWHQ*HVSUlFKVSDUWQHUZLUGEHHQGHW
GLH9HUELQGXQJPLWGHPYRUKHUJHKDOWHQHQ*HVSUlFKVSDUWQHUKHUJHVWHOOW
infobox
-HGHU]XJHVFKDOWHWH.RQIHUHQ]WHLOQHKPHUNDQQVHLQH7HLOQDKPHMHGHU]HLWPLW
$XIOHJHQGHV+|UHUVEHHQGHQ
*
:lKUHQGHLQHU'UHLHUNRQIHUHQ]
B
$XIOHJHQ7DVWHGUFNHQ
'LH'UHLHUNRQIHUHQ]PLWEHLGHQ*HVSUlFKVSDUWQHUQLVWEHHQGHW


*HVSUlFKZHLWHUJHEHQ
6LHIKUHQHLQH[WHUQHV*HVSUlFKXQGP|FKWHQHVDQHLQHQDQGHUHQLQWHUQHQ
*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQRGHU6LHIKUHQHLQLQWHUQHV*HVSUlFKXQG
P|FKWHQHVDQHLQHQH[WHUQHQ*HVSUlFKVSDUWQHUZHLWHUYHUPLWWHOQ
*
6LHIKUHQHLQ*HVSUlFK
([WHUQJHVSUlFKQDFK,QWHUQZHLWHUJHEHQ
6RIWWDVWH
,17
GUFNHQ
'DV([WHUQJHVSUlFKZLUGJHKDOWHQGHU3DUWQHUK|UWGLHLQWHUQH0HORGLH
(
,QWHUQ1UVWHOOLJHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
RGHU
,QWHUQJHVSUlFKQDFK([WHUQZHLWHUJHEHQ
6RIWWDVWH
5&.)5
GUFNHQ
(
5XIQXPPHUHLQJHEHQ
B
$XIOHJHQ7DVWHGUFNHQZHQQVLFKGHU7HLOQHKPHUJHPHOGHWKDW
infobox
0HOGHWVLFKGHUJHUXIHQH7HLOQHKPHUQLFKWN|QQHQ6LHGDV*HVSUlFKDXFK
GXUFK'UFNHQGHU6RIWWDVWH
=85&.
]XUFNKROHQ
(LQLQWHUQHV*HVSUlFKN|QQHQ6LHQLFKWLQWHUQZHLWHUYHUPLWWHOQ
1XUZHQQ6LHHLQH[WHUQHV*HVSUlFKQDFKLQWHUQZHLWHUJHEHQ
6LHN|QQHQDXIOHJHQEHYRUVLFKGHULQWHUQH*HVSUlFKVSDUWQHUPHOGHW1LPPW
GHULQWHUQH*HVSUlFKVSDUWQHUGHQ$QUXIQLFKWDQHUIROJWLQQHUKDOEYRQ6H
NXQGHQHLQ:LHGHUDQUXI
+DQGJHUlWHPLWª1XU,QWHUQ©%HUHFKWLJXQJN|QQHQNHLQ*HVSUlFKZHLWHUJH
EHQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

$QKDQJ

/LHIHU]XVWDQG
'DPLW6LHQDFKGHP$QPHOGHQGHV+DQGJHUlWHVGLHVHVVRIRUWQXW]HQN|QQHQ
LVWHVIUDOOJHPHLQH*HEUDXFKV]ZHFNHYRUHLQJHVWHOOW
'LHVH9RUHLQVWHOOXQJHQN|QQHQ6LHHQWVSUHFKHQG,KUHQSHUV|QOLFKHQ%HGUIQLV
VHQXQG$QVFKOXVVEHGLQJXQJHQYHUlQGHUQ
)ROJHQGH9RUHLQVWHOOXQJHQZXUGHQJHWURIIHQ
■
+DQGJHUlW6LQXV.
² 'LVSOD\VSUDFKH'HXWVFK
² +DQGJHUlWH3,1
² $XWRPDWLVFKH5XIDQQDKPH(LQ
² 5XIWRQ/DXWVWlUNH
² 5XIWRQ0HORGLH
² $XIPHUNVDPNHLWVWRQ$XV
² +LQZHLVW|QH(LQ
² +|UHUODXWVWlUNH
² /DXWVSUHFKHU/DXWVWlUNH
² 7DVWHQVFKXW]$XV
² 7HOHIRQVSHUUH$XV
² 77DVWH7HOHNRP5XIQXPPHUQ


:LFKWLJH+LQZHLVH]XP*HEUDXFKGHU$NNXV
 1XU1LFNHO&DGPLXP$NNXV1L&GE]Z1LFNHO0HWDOO+\GULG$NNXV1L0+
YHUZHQGHQ
1XUPLWGHQ$NNX0LQGHVWNDSD]LWlWHQ1L&GDEP$KXQGK|KHUE]Z
1L0+DEP$KXQGK|KHUJHOWHQGLHJHQDQQWHQ+DQGJHUlW%HWULHEV
]HLWHQLQ%HUHLWVFKDIWLP*HVSUlFKXQG/DGH]HLWHQVLHKH´7HFKQLVFKH
'DWHQµ6HLWH
,P/LHIHUXPIDQJGHV+DQGJHUlWHVVLQG]ZHLZLHGHUDXIODGEDUH1L&G=HOOHQ
GHU%DXIRUP$$0LJQRQHQWKDOWHQ
$OV(UVDW]EHGDUIE]ZDOV5HVHUYHHPSIHKOHQZLUEHLVSLHOVZHLVHKDQGHOVE
OLFKH$NNX=HOOHQIROJHQGHU+HUVWHOOHU
1L&G6$1<2*39DUWD
1L0+6$1<2*39DUWD3DQDVRQLF7RVKLED
(QWVSUHFKHQGH$NNXVZHUGHQHEHQVRZLH/DGHVWDWLRQHQYRQGHU'HXW
VFKHQ7HOHNRPDQJHERWHQ
'HU(LQVDW]DQGHUHU$NNX7\SHQRGHUYRQQLFKWZLHGHUDXIODGEDUHQ%DWWHUL
HQ3ULPlU]HOOHQNDQQJHIlKUOLFKVHLQXQG]XVlW]OLFK]X)XQNWLRQVVW|UXQJHQ
E]Z%HVFKlGLJXQJHQGHV*HUlWHVIKUHQ
'LH'HXWVFKH7HOHNRP$*NDQQDXVYHUVWlQGOLFKHQ*UQGHQLQVROFKHQ)lO
OHQNHLQH+DIWXQJEHUQHKPHQ
 $NNXVZHUGHQZlKUHQGGHV$XIODGHQVZDUPGLHVLVWHLQQRUPDOHUXQGXQ
JHIlKUOLFKHU9RUJDQJ
 .HLQHIUHPGHQ$XIODGHJHUlWHYHUZHQGHQGLH$NNXVN|QQHQEHVFKlGLJW
ZHUGHQ
 6HW]HQ6LHGLH$NNXVLQGHUULFKWLJHQ3ROXQJHLQ
 $NNXVQLFKWLQV:DVVHUWDXFKHQDXFKQLFKWLQV)HXHUZHUIHQ
 $NNXVQLFKWGHPRQWLHUHQ'DEHLNDQQHV]XP$XVWULWWGHVlW]HQGHQ(OHNWUR
O\WHQNRPPHQ
 1DFK1HXHLQOHJHQYRQ$NNXVHQWVSULFKWGLH$Q]HLJHYROOGHPWDW
VlFKOLFKHQ$NNX/DGH]XVWDQGHUVWQDFKHLQHPNRPSOHWWHQ/DGH(QWODGH
9RUJDQJLP+DQGJHUlW
 1HXH$NNXVHUUHLFKHQLKUHYROOH.DSD]LWlWHUVWQDFKHLQLJHQ/DGH(QWODGH
9RUJlQJHQ
 6LHN|QQHQ,KU+DQGJHUlWQDFKMHGHP*HVSUlFKZLHGHULQGLH/DGH
)HVWVWDWLRQOHJHQ'HU/DGHYRUJDQJZLUGHOHNWURQLVFKJHVWHXHUWGDPLWGLH
$NNXVLQGHQXQWHUVFKLHGOLFKVWHQ/DGH]XVWlQGHQRSWLPDOXQGVFKRQHQGJH
ODGHQZHUGHQ9HUPHLGHQ6LHGLH$NNXVRKQHEHVRQGHUHQ*UXQGDXVGHP
+DQGJHUlWKHUDXV]XQHKPHQGDGDGXUFKGHURSWLPDOH/DGHYRUJDQJEHHLQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR
WUlFKWLJWZLUG
'LH.DSD]LWlWGHUHLQJHVHW]WHQ$NNXVNDQQYHUEHVVHUWZHUGHQZHQQQDFK
OlQJHUHU1XW]XQJVGDXHUGLH$NNXVLP+DQGJHUlWYROOVWlQGLJ
HQWODGHQXQG
DQVFKOLHHQGZLHGHUYROO
DXIJHODGHQZHUGHQ
 'LH$NNXVQLFKWNXU]VFKOLHHQJHIlKUOLFK9HUPHLGHQ6LHEHVRQGHUVYHUVH
KHQWOLFKH.XU]VFKOVVHEHL/DJHUXQJXQG7UDQVSRUWGXUFK]%6FKOVVHO
EXQG0HWDOOSODWWHQRGHUlKQOLFKHVXQGDFKWHQ6LHGDUDXIGDVVGLH$NNXV
QLFKWPLWIHWWKDOWLJHQ6WRIIHQLQ9HUELQGXQJNRPPHQ$NNXVGHVKDOEDXHU
KDOEGHV+DQGJHUlWVQXULQLVROLHUHQGHU9HUSDFNXQJDXIEHZDKUHQ9HUPHL
GHQ6LHHEHQVRGLH%HUKUXQJGHU.RQWDNWHPLWIHWWLJHQ7HLOHQ
 )UDOOHYHUEUDXFKWHQ%DWWHULHQXQG$NNXPXODWRUHQEHVWHKWHLQHJHVHW]OLFKH
5FNJDEHSIOLFKW6LHGUIHQQLFKWEHUGHQ+DXVPOOHQWVRUJWZHUGHQ'LH
'HXWVFKH7HOHNRPQLPPWYHUEUDXFKWH%DWWHULHQXQG$NNXVGLHVLHEHLGHU
'HXWVFKHQ7HOHNRPJHNDXIWKDEHQLQGHQ73XQNWHQNRVWHQORV]XUFN'LH
%DWWHULHQXQG$NNXVZHUGHQUHF\FHOWGDVLH]%1LFNHO&DGPLXP1L&G
%OHL3E&DGPLXP&GRGHU4XHFNVLOEHU+JHQWKDOWHQN|QQHQ
'LH%DWWHULHQXQG$NNXVVLQGPLW6\PEROHQXQGLKUHP,QKDOWVVWRIIJHNHQQ
]HLFKQHW]%
Ni-Cd
Cd


6HOEVWKLOIHEHL6W|UXQJHQ
:HQQ,KU+DQGJHUlWVLFKHLQPDOQLFKWVRYHUKlOWZLH6LHHVZQVFKHQYHUVX
FKHQ6LH]XQlFKVWVLFKPLWGHUIROJHQGHQ/LVWHVHOEVW]XKHOIHQ.|QQHQ6LHGHQ
)HKOHUQLFKWVHOEVWEHKHEHQUXIHQ6LHGHQ76HUYLFHXQWHUGHU5XIQXPPHU
RGHUXQVHUH6HUYLFH+RWOLQHDQ

6HUYLFH
6LHKDEHQHLQPRGHUQHV3URGXNWGHU'HXWVFKHQ7HOHNRPHUZRUEHQGDVHLQHU
VWUHQJHQ4XDOLWlWVNRQWUROOHXQWHUOLHJW
+DEHQ6LH)UDJHQ]XP*HUlWZHQGHQ6LHVLFKELWWHDQGLH6HUYLFH+RWOLQHXQWHU
GHU5XIQXPPHU
,P6W|UXQJVIDOO²DXFKQDFKGHU*DUDQWLH]HLW²VWHKW,KQHQXQVHU76HUYLFH]X
VlW]OLFKXQWHUGHU5XIQXPPHURGHUXQVHU3HUVRQDOLP73XQNW
JHUQH]XU9HUIJXQJ
6W|UXQJ 8UVDFKH $EKLOIH
.HLQH'LVSOD\DQ]HLJH ² +DQGJHUlWQLFKWHLQJHVFKDO
WHW
² $NNXOHHU
² $XIOHJHQ7DVWHODQJGUFNHQ
² +DQJHUlWLQ)HVW/DGHVWD
WLRQHLQOHJHQODGHQ
1DFK$XVZDKOGHU5XIQXPPHU
NHLQH9HUELQGXQJ:lKOWRQ
QRFKK|UEDU
'DV:DKOYHUIDKUHQLVWIDOVFK
HLQJHVWHOOW
:DKOYHUIDKUHQLP6\VWHP
XPVWHOOHQ
.HLQH)XQNYHUELQGXQJ]XU6WD
WLRQ
'LVSOD\DQ]HLJHª6XFKH6WDWLRQ©
² +DQGJHUlWQLFKWDQJHPHOGHW
² $XHUKDOEGHV)XQNEHUHLFKV
² 6WDWLRQVDXVZDKOIDOVFKHLQ
JHVWHOOW
² )HVWVWDWLRQQLFKWPLW6WURP
QHW]YHUEXQGHQ
² +DQGJHUlWDQPHOGHQ
² ,QGHQ)XQNEHUHLFKEHJHEHQ
² 6WDWLRQVDXVZDKOlQGHUQ
² 6WURPYHUVRUJXQJGHU6WDWLRQ
EHUSUIHQ
'DV+DQGJHUlWOlXWHWQLFKW ² 5XIWRQ/DXWVWlUNHDXV]X
OHLVHHLQJHVWHOOW
² 5XI]XRUGQXQJIDOVFKHLQJH
VWHOOW
² 5XIWRQ/DXWVWlUNHODXWHUHLQ
VWHOOHQVLHKH6HLWH
² 5XI]XRUGQXQJLP6\VWHP
NRUUHNWHLQVWHOOHQ
infobox
:HLWHUH+LQZHLVHLQGHU%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQ

DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

*DUDQWLHHUNOlUXQJ
'LH'HXWVFKH7HOHNRP$*OHLVWHWIU0DWHULDOXQG+HUVWHOOXQJGHV7HOHNRPPX
QLNDWLRQVHQGJHUlWHVHLQH*DUDQWLHYRQ]Z|OI0RQDWHQDEGHUhEHUJDEH$XVJH
QRPPHQKLHUYRQVLQGZLHGHUDXIODGEDUH$NNXPXODWRUHQ$NNXVXQG9HU
EUDXFKVJWHUZLH'UXFNSDWURQHQHWFKLHUJLOWGLHJHVHW]OLFKH*HZlKUOHLVWXQJ
YRQVHFKV0RQDWHQDEGHUhEHUJDEH
'HP.lXIHUVWHKW]XQlFKVWQXUGDV5HFKWGHU1DFKEHVVHUXQJ]X'LH'HXWVFKH
7HOHNRP$*NDQQVWDWWQDFK]XEHVVHUQ(UVDW]JHUlWHOLHIHUQ
$XVJHWDXVFKWH*HUlWHRGHU7HLOHJHKHQLQGDV(LJHQWXPGHU'HXWVFKHQ7HOH
NRP$*EHU
%HL)HKOVFKODJHQGHU1DFKEHVVHUXQJRGHU(UVDW]OLHIHUXQJNDQQGHU.lXIHU
LQQHUKDOEGHU*DUDQWLH]HLW5FNJlQJLJPDFKXQJGHV9HUWUDJHV:DQGHOXQJ
RGHU+HUDEVHW]XQJGHV.DXISUHLVHV0LQGHUXQJYHUODQJHQ
'HU.lXIHUKDWIHVWJHVWHOOWH0lQJHOGHU'HXWVFKHQ7HOHNRP$*XQYHU]JOLFK
PLW]XWHLOHQ'HU1DFKZHLVGHV*DUDQWLHDQVSUXFKVLVWGXUFKHLQHRUGQXQJVJH
PlH.DXIEHVWlWLJXQJ.DXIEHOHJJJI5HFKQXQJ]XHUEULQJHQ
'HU*DUDQWLHDQVSUXFKHUOLVFKWZHQQGXUFKGHQ.lXIHURGHUQLFKWDXWRULVLHUWH
'ULWWHLQGDV*HUlWHLQJHJULIIHQZLUG6FKlGHQGLHGXUFKXQVDFKJHPlH
%HKDQGOXQJ%HGLHQXQJ$XIEHZDKUXQJVRZLHGXUFKK|KHUH*HZDOWRGHUVRQ
VWLJHlXHUH(LQIOVVHHQWVWHKHQIDOOHQQLFKWXQWHUGLH*DUDQWLH
%HL(UEULQJXQJGHU*HZlKUOHLVWXQJGXUFKXQVHUH6HUYLFHVWHOOHEHKHEWGLHVHDOV
JDUDQWLHSIOLFKWLJDQHUNDQQWH0lQJHOGHV*HUlWHVRKQH%HUHFKQXQJYRQ1HEHQ
NRVWHQ)UDFKWXQG9HUVDQGNRVWHQIUGHQELOOLJVWHQ5FNYHUVDQG
LQQHUKDOEGHU%XQGHVUHSXEOLN'HXWVFKODQGJHKHQGDEHL]X/DVWHQGHU
'HXWVFKHQ7HOHNRP$*


&(=HLFKHQ
7KHPDQXIDFWXUHUGHFODUHVWKDWWKHDERYHPHQWLRQHGSURGXFWLVPDQXIDFWXUHG
DFFRUGLQJWRWKH)XOO4XDOLW\$VVXUDQFH6\VWHPZLWKWKHUHJLVWUDWLRQQXPEHU
´40µLQFRPSOLDQFHZLWK$11(;9RIWKH577('LUHFWLYH(&
7KHSUHVXPSWLRQRIFRQIRUPLW\ZLWKWKHHVVHQWLDOUHTXLUHPHQWVUHJDUGLQJ
&RXQFLO'LUHFWLYH(&LVHQVXUHG
'LH2ULJLQDOHUNOlUXQJOLHJWYRU
'DV+DQGJHUlW6LQXV.LVWIUGHQ%HWULHELQ'HXWVFKODQGYRUJHVHKHQ
'HU+HUVWHOOHUHUNOlUWGDVVGLHJUXQGOHJHQGHQ$QIRUGHUXQJHQGHU(85LFKWOLQLH
(*´(QGJHUlWHULFKWOLQLHµHUIOOWVLQG'LHhEHUHLQVWLPPXQJGHV*HUlWHV
PLWGHURD5LFKWOLQLHZLUGGXUFKGDV&(=HLFKHQEHVWlWLJW

5HF\FOLQJ
+DW,KU+DQGJHUlWDXVJHGLHQW"%ULQJHQ6LHHV]XXQV
'LH'HXWVFKH7HOHNRPHQWVRUJWHVIDFKJHUHFKWREJHPLHWHWRGHUJHNDXIW,KU7H
OHIRQZLUG]HUOHJW'LH0DWHULDOLHQDUEHLWHQZLUJHWUHQQWDXI'HQ.XQVWVWRIIIK
UHQZLUGHP5HF\FOLQJ]XXQGVWHOOHQGDUDXVQHXH7HOHIRQJHKlXVHKHU'LH(OHN
WURQLNZLUGLQLKUH%HVWDQGWHLOH.XSIHU(LVHQXQG6WDKODXIJHWUHQQWXQGZLHGHU
YHUZHQGHW
)UGLH+HUVWHOOXQJYRQ7HOHIRQHQZHUGHQVHLWHQVGHU'HXWVFKHQ7HOHNRPHLQH
5HLKHYRQ9RUJDEHQJHPDFKWGLHGDV9HUZHQGHQYRQXPZHOWIUHXQGOLFKHQ0D
WHULDOLHQYRUVFKUHLEHQXQGHLQHVRUWHQUHLQH7UHQQXQJGHU0DWHULDOLHQHUP|JOL
FKHQ'DGXUFKYHUULQJHUQZLUGHQ$QWHLOGHU5HVWVWRIIHZHVHQWOLFK


DQ6LQXV$%DQ6LQXV$%DQ6LQXV33$DQ6LQXV33$LVGQDQ6LQXV3$LVGQDQ6LQXVLVGQ $OOJHPHLQDQ6LQXV3$
0LFUR

7HFKQLVFKH'DWHQ
■
6WDQGDUG'(&7*$3
■
.DQDO]DKO'XSOH[NDQlOH
■
)UHTXHQ]HQ0+]ELV0+]
■
'XSOH[YHUIDKUHQ=HLWPXOWLSOH[PV5DKPHQOlQJH
■
.DQDOUDVWHUN+]
■
%LWUDWHNELWV
■
0RGXODWLRQ*)6.
■
6SUDFKNRGLHUXQJNELWV
■
6HQGHOHLVWXQJP:PLWWOHUH/HLVWXQJSUR.DQDO
■
5HLFKZHLWHELV]X0HWHULP)UHLHQLQ*HElXGHQELV]X0HWHUQ
■
%HWULHEVGDXHU+DQGJHUlW LQ%HUHLWVFKDIWLP*HVSUlFK
EHL P$K FD6WXQGHQ6WXQGHQ
P$K FD6WXQGHQ6WXQGHQ
P$K FD6WXQGHQ6WXQGHQ
■
/DGH]HLWGHU$NNXVFD6WXQGHQ
■
=XOlVVLJH8PJHEXQJVEHGLQJXQJHQIUGHQ%HWULHEGHV+DQGJHUlWV&
ELV&
■
=XOlVVLJH/DJHUWHPSHUDWXU²&ELV&
■
$EPHVVXQJHQ+DQGJHUlW/lQJH%UHLWH+|KH [[PP
■
*HZLFKW+DQGJHUlWJRKQH$NNXVJPLW$NNXV



.XU]EHGLHQXQJVDQOHLWXQJ
$OOJHPHLQDQDOOHQ6WDWLRQHQ
■
5XIWRQ/DXWVWlUNHHLQVWHOOHQ6HLWH
■
7DVWHQVFKXW]HLQDXVVFKDOWHQ6HLWH
■
+DQGJHUlWHVSHUUHHLQDXVVFKDOWHQ6HLWH
1XUEHL%HWULHEDQ6LQXV$%0LFUR
■
+DQGJHUlWDQPHOGHQ6HLWH
?
=
=
=


0HQWDVWHGUFNHQ

ª(LQVWHOOXQJHQ©PLW
6RIWWDVWHEHVWlWLJHQ

ª$XGLR©PLW
6RIWWDVWHEHVWlWLJHQ

ª5XIWRQODXWVWlUNH©
PLW6RIWWDVWHEHVWlWL
JHQ

6WXIHª©ELVª©
DXVZlKOHQ
=
B
info
6LHN|QQHQDXFKGLH5XIWRQ0HORGLHHLQVWHOOHQ
6HLWH

0LW6RIWWDVWH
EHVWlWLJHQ

$XIOHJHQ7DVWH
GUFNHQ

info
(UIROJWHLQ$QUXIZLUGGHU7DVWHQVFKXW]IUGLH'DXHUGHV*HVSUlFKV
DXWRPDWLVFKDXIJHKREHQ
0LWGHU$EQHKPHQ7DVWHN|QQHQ6LHGHQ$QUXIHQWJHJHQQHKPHQ
(LQ
5DXWH7DVWHODQJ
GUFNHQ
$XV
5DXWH7DVWHHU
QHXWODQJGUFNHQ
6SHUUHHLQ
?
=
;<
=
(

0HQWDVWHGUFNHQ

ª(LQVWHOOXQJHQ©PLW
6RIWWDVWHEHVWlWLJHQ

ª6LFKHUKHLW©
DXVZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ

+DQGJHUlWH3,1
HLQJHEHQ
;<
=
B
info
6LHN|QQHQDXFKGLH6SHUUHPLWHLQHU'LUHNWUXI
QXPPHUHLQVFKDOWHQ6HLWH

ª7HOHIRQVSHUUH©
DXVZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ

$XIOHJHQ7DVWH
GUFNHQ
6SHUUHDXV
$86
(
=
B
6RIWWDVWHGUFNHQ +DQGJHUlWH3,1
HLQJHEHQ
0LW6RIWWDVWH
EHVWlWLJHQ
$XIOHJHQ7DVWH
GUFNHQ
$Q)HVWVWDWLRQLVW$Q
PHOGXQJJHVWDUWHW
ÖÖÖ-$ÖÖÖ
¦
(
=
(
,P+DQGJHUlWH'LV
SOD\ZLUGª$QPHO
GHQ"©DQJH]HLJW

6RIWWDVWHGUFNHQ

6\VWHP3,1
HLQJHEHQ

0LW6RIWWDVWH
EHVWlWLJHQ

)UHLH,QWHUQ1U
HLQJHEHQ
info
'LH$QPHOGXQJDQDQGHUHQ6WDWLRQHQIKUHQ6LHHQWVSUHFKHQGGHU%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQGXUFK
'LH$QPHOGXQJNDQQDXFKEHU0(186WDWLRQHQ6WDWLRQ;
N

$QPHOGHQGXUFKJHIKUWZHUGHQ

■
$XVGHU$QUXIHUOLVWHZlKOHQ6HLWH
■
*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLWK|UHQODVVHQ6HLWH
1XUEHL%HWULHEDQ6LQXV$%
■
*HVSUlFKDQGHU)HVWVWDWLRQPLWK|UHQODVVHQ6HLWH
1XUEHL%HWULHEDQ6LQXV33$3LVGQ3$LVGQLVGQ
■
+DQGJHUlWDQPHOGHQ6HLWH
■
$XVGHU$QUXIHUOLVWHZlKOHQ6HLWH
1XUEHL%HWULHEDQ6LQXV3$3$LVGQ
■
1DFKULFKWHQDEK|UHQ]XUFNUXIHQ6HLWH
,
;<
D

6RIWWDVWH
GUFNHQ

%OlWWHUQ5XIQXP
PHUDXVZlKOHQ

$EQHKPHQ7DVWH
GUFNHQ
+
(
0,7+(,1

6RIWWDVWH
GUFNHQ

,QWHUQ1U
HLQJHEHQ

6RIWWDVWH
GUFNHQ
'DV+DQGJHUlW
K|UWPLW
+

6RIWWDVWH
GUFNHQ

7DVWHGUFNHQ 'LH)HVWVWDWLRQK|UW
PLW
$Q6WDWLRQLVW$QPHO
GXQJJHVWDUWHW
ÖÖÖ-$ÖÖÖ
¦
(
=
;<
=
,P+DQGJHUlWH'LVSOD\
ZLUGª$QPHOGHQ"©
DQJH]HLJW

6RIWWDVWH
GUFNHQ

6\VWHP3,1
HLQJHEHQ

0LW6RIWWDVWH
EHVWlWLJHQ

)UHLH,QWHUQ1U
DXVZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ
info
'LH$QPHOGXQJDQDQGHUHQ6WDWLRQHQIKUHQ6LHHQWVSUHFKHQGGHU%HGLHQXQJVDQOHLWXQJ,KUHU6WDWLRQGXUFK
'LH$QPHOGXQJNDQQDXFKEHU0(186WDWLRQHQ6WDWLRQ;
N

$QPHOGHQGXUFKJHIKUWZHUGHQ
?
;<
=
;<
;<
D

0HQWDVWH
GUFNHQ

ª6HUYLFH©
DXVZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ

ª$QUXIHUOLVWH©
DXVZlKOHQ

%OlWWHUQ5XIQXP
PHUDXVZlKOHQ

$EQHKPHQ7DVWH
GUFNHQ
?
;<
=
=
=
;<

0HQWDVWH
GUFNHQ

ª6HUYLFH©
DXVZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ

ª$QUXIEHDQWZRUW©
EHVWlWLJHQ

ª1DFKULFKWHQ©
EHVWlWLJHQ

ª1HXH©RGHUª$O
OH©DXVZlKOHQ
=
$QJH]HLJWH
1DFKULFKW
]XUFNUXIHQ
;<
N
;<
=

0LW6RIWWDVWH
EHVWlWLJHQ
6LHK|UHQGLH
1DFKULFKWHQ

%OlWWHUQ1DFK
ULFKWDXVZlKOHQ

6RIWWDVWHGUFNHQ

ª1XPPHU
ZlKOHQ©DXV
ZlKOHQ

0LW6RIWWDVWH
EHVWlWLJHQ


4XLFNUHIHUHQFHJXLGH
*HQHUDOIRUDOOEDVHV
■
6HWWLQJWKHULQJHUYROXPHSDJH
■
$FWLYDWLQJGHDFWLYDWLQJNH\SDGSURWHFWLRQSDJH
■
$FWLYDWLQJGHDFWLYDWLQJKDQGVHWORFNSDJH
6LQXV$%0LFURRQO\
■
5HJLVWHULQJWKHKDQGVHWSDJH
?
=
=
=


3UHVVWKHPHQXNH\

3UHVVVRIWNH\WR
FRQILUPª6HWWLQJV©

3UHVVVRIWNH\WR
FRQILUPª6RXQG
6HWWLQJV©

3UHVVVRIWNH\WR
FRQILUPª5LQJHU
9ROXPH©

6HOHFWOHYHO
ª©WRª©
=
B
info
<RXFDQDOVRVHWWKHULQJWRQHPHORG\
SDJH

3UHVVVRIWNH\WR
FRQILUP

3UHVVWKH
HQGFDOONH\

info
,QWKHHYHQWRIDQLQFRPLQJFDOONH\SDGSURWHFWLRQLVDXWRPDWLFDOO\
GLVDEOHGIRUWKHGXUDWLRQRIWKHFDOO
<RXFDQDQVZHUWKHFDOOE\SUHVVLQJWKHDFFHSWNH\
2Q
KROGGRZQWKH
SRXQGNH\
2II
KROGGRZQWKH
SRXQGNH\DJDLQ
/RFNRQ
?
=
; <
=
(

3UHVVWKHPHQXNH\

3UHVVVRIWNH\WR
FRQILUPª6HWWLQJV©

6HOHFWª6HFXULW\©

3UHVVVRIWNH\WR
FRQILUP

(QWHUWKH
KDQGVHW3,1
; <
=
B
info
<RXFDQDOVRDFWLYDWHWKHORFNZLWKDGLUHFW
VWDWLRQVHOHFWLRQQXPEHUSDJH

6HOHFWª+DQGVHW
/RFN©

3UHVVVRIWNH\WR
FRQILUP

3UHVVWKH
HQGFDOONH\
/RFNRII
2))
(
=
B
3UHVVVRIWNH\ (QWHUWKH
KDQGVHW3,1
3UHVVVRIWNH\
WRFRQILUP
3UHVVWKHHQGFDOONH\
5HJLVWUDWLRQVWDUWHGDW
WKHIL[HGVWDWLRQ
ÖÖ<(6ÖÖ
(
=
(
ª5HJLVWHU"©DSSHDUVRQ
WKHKDQGVHWGLVSOD\
3UHVVVRIWNH\ (QWHUWKHV\VWHP3,1 3UHVVVRIWNH\WR
FRQILUP
(QWHUDQXQDVVLJQHG
LQWHUQDOQXPEHU
info
)RULQIRUPDWLRQRQUHJLVWHULQJWKHKDQGVHWDWRWKHUEDVHVUHIHUWRWKHRSHUDWLQJLQVWUXFWLRQVIRU\RXUEDVH
5HJLVWUDWLRQFDQDOVREHSHUIRUPHGYLD0(18%DVHV%DVH;
N
5HJLVWHU

■
'LDOOLQJIURPWKHFDOOVOLVWSDJH
■
$FWLYDWLQJOLVWHQLQJLQDWDQRWKHUKDQGVHWSDJH
6LQXV$%RQO\
■
$FWLYDWLQJOLVWHQLQJLQDWWKHIL[HGVWDWLRQSDJH
6LQXV33$3LVGQ3$LVGQLVGQRQO\
■
5HJLVWHULQJWKHKDQGVHWSDJH
■
'LDOOLQJIURPWKHFDOOHUOLVWSDJH
6LQXV3$3$LVGQRQO\
■
3OD\LQJEDFNFDOOLQJEDFNPHVVDJHVSDJH
,
; <
D

3UHVVVRIWNH\

6FUROO'LDOWKHFDOO
QXPEHU

3UHVVWKHDFFHSW
NH\
+
(
/67121

3UHVVVRIWNH\

(QWHUWKHLQWHUQDO
QXPEHU

3UHVVVRIWNH\ 7KHRWKHUKDQGVHW
FDQOLVWHQLQ
+

3UHVVVRIWNH\

3UHVVNH\ 7KHIL[HGVWDWLRQ
FDQOLVWHQLQ
5HJLVWUDWLRQVWDUWHGDW
WKHVWDWLRQ
ÖÖ<(6ÖÖ
¦
(
=
; <
=
ª5HJLVWHU"©DSSHDUVRQ
WKHKDQGVHWGLVSOD\

3UHVVVRIWNH\

(QWHUWKH
V\VWHP3,1

3UHVVVRIWNH\WR
FRQILUP

(QWHUDQXQDV
VLJQHGLQWHUQDO
QXPEHU

3UHVVVRIWNH\WR
FRQILUP
info
)RULQIRUPDWLRQRQUHJLVWHULQJWKHKDQGVHWDWRWKHUEDVHVSOHDVHUHIHUWRWKHRSHUDWLQJLQVWUXFWLRQVIRU\RXUEDVH
5HJLVWUDWLRQFDQDOVREHSHUIRUPHGYLD0(18%DVHVHWWLQJVVWDWLRQ;
N

5HJLVWHU
?
; <
=
; <
; <
D

3UHVVWKHPHQX
NH\

6HOHFW
ª6HUYLFH6HW8S©

3UHVVVRIWNH\WR
FRQILUP

6HOHFW
ª&DOOVOLVW©

6FUROO6HOHFWWKH
FDOOQXPEHU

3UHVVWKHDFFHSW
NH\
?
; <
=
=
=
; <

3UHVVWKH
PHQXNH\

6HOHFW
ª6HUYLFH6HW8S©

3UHVVVRIWNH\WR
FRQILUP

&RQILUPª$QVZHU
LQJPDFK©

&RQILUPª0HV
VDJHV©

6HOHFW
ª1HZ©RUª$OO©
=
&DOOEDFN
WKHPHVVDJH
GLVSOD\HG
; <
N
; <
=

3UHVVVRIW
NH\WRFRQ
ILUP
<RXFDQKHDUWKH
PHVVDJHV

6FUROO6HOHFWD
PHVVDJH

3UHVVVRIWNH\

6HOHFW
ª'LDO1XPEHU©

3UHVVVRIWNH\
WRFRQILUP


.XOODQPD.ÐODYX]X
*HQHORODUDNEWQLVWDV\RQODUGD
■
6HV\NVHNOLÎLQLD\DUODPD6D\ID
■
7XÒNRUXPDIRQNVL\RQXQXDoPDNDSDPD6D\ID
■
7HOHIRQEORNDMÐQÐDoPDNDSDPD6D\ID
6DGHFH6LQXV$%0LFURLOHoDOÐÒWÐUPDGD
■
.RUGRQVX]WHOHIRQXND\GHWPHN6D\ID
?
=
=
=

 7XÒDEDVÐQÐ]  (LQVWHOOXQJHQ
6RIWWXÒLOHWH\LW
HGLQ
 $XGLR6RIWWXÒ
LOHWH\LWHGLQ
 5XIWRQODXW
VWlUNH6RIWWXÒLOH
WH\LWHGLQ
 .DGHPHLOH
DUDVÐQGD
VHoLQ
=
B
Bilgi
.RUGRQVX]WHOHIRQGDNLVHVPHORGLVLQLGH
D\DUOD\DELOLUVLQL]6D\ID 
 6RIWWXÒXLOHWH\LW
HGLQ
 $KL]H\LNR\XQX]
7XÒDEDVÐQÐ]

Bilgi
%LUWHOHIRQJHOGLÎL]DPDQWXÒNRUXPDIRQNVL\RQXNRQXÒPDVUHVL
ER\XQFDRWRPDWLNRODUDNNDONDU
7XÒDEDVDUDNJHOHQWHOHIRQDFHYDSYHUHELOLUVLQL]
$oÐN.DIHVWXÒXQD
X]XQELUPGGHW
EDVÐQÐ]
.DSDOÐ.DIHV
WXÒXQDWHNUDUX]XQ
ELUPGGHWEDVÐQÐ]
%ORNDMDoÐN
?
=
;<
=
(
 7XÒDEDVÐQÐ]  (LQVWHOOXQJHQ
6RIWWXÒXLOHWH\LW
HGLQ
 6LFKHUKHLW
VHoLQ
 6RIWWXÒXLOHVHoLQ .RUGRQVX]
WHOHIRQ3,1©L
JLULQL]
;<
=
B
Bilgi
%ORNDMÐGLUHNWELUWHOHIRQQXPDUDVÐLOH
DoDELOLUVLQL]6D\ID
 7HOHIRQVS HUUH
VHoLQ
 6RIWWXÒXLOHVHoLQ  $KL]H\LNR\XQX]
7XÒDEDVÐQÐ]
%ORNDMDoÐN
$86
(
=
B
6RIWWXÒXQD
7XÒDEDVÐQÐ]
.RUGRQVX]WHOHIRQ
3,1©LJLULQL]
6RIWWXÒXLOH
WH\LWHGLQ
$KL]H\LNR\XQX]
7XÒDEDVÐQÐ]
.D\ÐWVDELW
LVWDV\RQGDEDÒODGÐ
ÖÖÖ-$ÖÖÖ
(
=
(
.RUGRQVX]
WHOHIRQGD'LMLWDO
J|VWHUJH\DQÐS
V|QHU
ª$QPHOGHQ"©
6RIWWXÒXQD
7XÒDEDVÐQÐ]
6LVWHP3,1©L
JLULQL]
6RIWWXÒXLOHWH\LW
HGLQ
6HUEHVWGDKLOL
QXPDUD\Ð
JLULQL]
Bilgi
'LÎHUWHOHIRQODUGDNLPHVDMÐLVWDV\RQNXOODQPDNÐODYX]XQGDJ|VWHULOGLÎLÒHNLOGHX\JXOD\ÐQÐ]
%DÒYXUX0(1hLVWDV\RQODULVWDV\RQ;
N
EDÒYXULOHGH\DSÐODELOLU

■
7HOHIRQHGHQOHUOLVWHVLQGHQVHoLQL]

6D\ID

■
.RQXÒPD\ÐGLÎHUELUNRUGRQVX]WHOHIRQGDGLQOHWLQL]

6D\ID

6DGHFH6LQXV$%LOHoDOÐÒWÐUPDGD
■
.RQXÒPD\ÐVDELWLVWDV\RQGDGLQOHWPH

6D\ID

6DGHFH6LQXV33$3LVGQ3$LVGQLVGQLOHoDOÐÒWÐUPDGD
■
.RUGRQVX]WHOHIRQDND\ÐW

6D\ID

■
7HOHIRQHGHQOHUOLVWHVLQGHQVHoLQL]

6D\ID

6DGHFH6LQXV3$3$LVGQLOHoDOÐÒWÐUPDGD
■
0HVDMODUÐGLQOHPHPHVDMODUDWHOHIRQHWPH

6D\ID

,
;<
D
 6RIWWXÒXQD
7XÒDEDVÐQÐ]
 6D\IDODUÐ
NDUÐÒWÐUÐQÐ]7HOH
IRQQXPDUDVÐQÐ
VHoLQL]
 7HOHIRQX
EÐUDNÐQÐ]7XÒD
EDVÐQÐ]
+
(
0,7+(,1
 6RIWWXÒXQD
7XÒDEDVÐQÐ]
 'DKLOLQXPDUD\Ð
JLULQL]
 6RIWWXÒXQD
7XÒDEDVÐQÐ]
'LÎHUNRUGRQVX]WHOH
IRQELUOLNWHGLQOHU
+
 6RIWWXÒXQD
7XÒDEDVÐQÐ]
 7 XÒDEDVÐQÐ] 6DELWLVWDV\RQNR
QXÒPD\ÐELUOLNWHGLQOL\RU
.D\ÐWVDELWLVWDV\RQGD
EDÒODGÐ
ÖÖÖ-$ÖÖÖ¦
(
=
;<
=
.RUGRQVX]WHOHIRQ
GLMLWDOJ|VWHUJHVLQGH
$QPHOGHQ"
J|UQU
 6RIWWXÒXQD
7XÒDEDVÐQÐ]
 6LVWHP3,1©L
JLULQL]
 6RIWWXÒXLOH
WH\LWHGLQ
 6HUEHVWGDKL
OLQXPDUD\Ð
oHYLULQL]
 6RIWWXÒXLOH
WH\LWHGLQ
info
'LÎHUWHOHIRQODUGDNLPHVDMÐLVWDV\RQNXOODQPDNÐODYX]XQGDJ|VWHULOGLÎLÒHNLOGHX\JXOD\ÐQÐ]
%DÒYXUX0(1hLVWDV\RQODULVWDV\RQ;
N
EDÒYXULOHGH\DSÐODELOLU
?
;<
=
;<
;<
D
 7XÒDEDVÐQÐ] 6HUYLFH
VHoLQL]
 6RIWWXÒXLOH
WH\LWHGLQ
 $QUXIHUOL
VWHVHoLQL]
 6D\IDODUÐoHYLUL
QL]7HOHIRQQX
PDUDVÐQÐVHoL
QL]
 7HOHIRQX
EÐUDNÐQÐ]7XÒD
EDVÐQÐ]
?
;<
=
=
=
;<
 7XÒD
EDVÐQÐ]
 6HUYLFH
VHoLQL]
 6RIWWXÒXLOH
WH\LWHGLQ
 $QUXIEHDQW
ZRUWWH\LWHGLQ
 1DFKULFK
WHQWH\LW
HGLQ
 1HXHYH\D
$OOHVHoLQ
=
*HOHQ
PHVDMD
WHOHIRQHWPH
;<
N
;<
=
 6RIW
WXÒX\OD
WH\LWHGLQ
0HVDMODUÐ
GLQOL\RUVXQX]
 0HVDMODUÐ
GLQOHPH
0HVDMVHoLPL
 7XÒDEDVÐQÐ] 1XPPHU
ZlKOHQ
VHoLQ
6RIWWXÒXLOH
WH\LWHGLQ

$
$EK|UVLFKHUKHLW 
$EPHOGHQGHV+DQGJHUlWV 
$NNXV
² HLQOHJHQ 
²ODGHQ 
² /DGH]XVWDQG 
² :DUQWRQ 
² :LFKWLJH+LQZHLVH 
$NNXZDUQWRQ 
$OOH(LQWUlJHLP7HOHIRQEXFKO|VFKHQ 
$QKDQJ 
$QPHOGHQGHV+DQGJHUlWV 
$QRQ\P$QUXIHQ 
$QUXI
² ZHLWHUOHLWHQ 
$QUXIDQQHKPHQ 
$QUXIEHDQWZRUWHU 
² *HVSUlFKEHUQHKPHQ 
$QUXIHUOLVWH
² ZlKOHQ 
$XIPHUNVDPNHLWVWRQ 
$XI]HLFKQXQJHQ
² DQK|UHQ 
² :LHGHUJDEHVWDUWHQ 
$XVGHU1DFKULFKWHQOLVWHZlKOHQ 
$XVSDFNHQ 
$XWRP5XIDQQDKPH 
$XWRPDWLVFKH:DKOZLHGHUKROXQJ 
%
%DE\SKRQ 
&
&(=HLFKHQ 
&/,3 
&/,5 
'
'LUHNWUXIHLQVFKDOWHQ 
'LUHNWUXIQXPPHU
²HLQJHEHQ
'LVSOD\
² 6SUDFKH 
'LVSOD\DQ]HLJHQ 
'UHLHUNRQIHUHQ] 
(
(LJHQH5XIQXPPHUQ061 
(OHPHQWHIU0DNURV 
([WHUQH5FNIUDJH 
)
)DQJVFKDOWXQJ 
)HKOHUVXFKH 
)UHLVSUHFKHQ 
)XQNWLRQHQGHU77DVWH 
*
*DUDQWLH 
*HJHQVSUHFKHQ 
*HKHLP]DKO3,1 
*HVSUlFK
² SDUNHQ 
² ]ZHLWHV*HVSUlFK 
*HVSUlFKDP.RPIRUWWHOHIRQPLWK|UHQ
ODVVHQ 
*HVSUlFKDQGHU)HVWVWDWLRQPLWK|UHQ
ODVVHQ 
*HVSUlFKDQHLQHPDQGHUHQ+DQGJHUlWPLW
K|UHQODVVHQ 
*HVSUlFKLQWHUQZHLWHUJHEHQ 
*HVSUlFKZlKUHQG$QUXIEHDQWZRUWHUEH
WULHEEHUQHKPHQ 
*HVSUlFKZHLWHUJHEHQ 
*HVSUlFKZHLWHUYHUPLWWHOQ 
*HVSUlFKGDXHU$Q]HLJH 
*HVSUlFKVGDXHU$Q]HLJH 
*HVSUlFKVNRVWHQ$Q]HLJH 
+
+DQGJHUlWHLQDXVVFKDOWHQ 
+DQGJHUlWH
² DEPHOGHQ 

6WLFKZRUWYHU]HLFKQLV

² DQPHOGHQ 
² HLQDXVVFKDOWHQ 
²3,1
+DQGJHUlWHDQDEPHOGHQ 
+LQZHLVH]XP*HEUDXFKGHU$NNXV 
+LQZHLVW|QH 
+LQZHLVW|QHHLQDXVVFKDOWHQ 
+|UHU/DXWVWlUNHHLQVWHOOHQ 
,
,Q%HWULHEQHKPHQ 
,QEHWULHEQDKPH 
,QWHUQDQUXIHQ 
,QWHUQH5FNIUDJH 
,QWHUQHU6DPPHOUXI 
,QWHUQJHVSUlFK 
.
.H\SDG
² .H\SDG)XQNWLRQ 
² .H\SDG6WHXHUXQJ 
² QXUIUGLHQlFKVWH9HUELQGXQJ
HLQVFKDOWHQ 
² ZlKUHQGHLQHU9HUELQGXQJ
HLQVFKDOWHQ 
.RVWHQ 
.XOODQPD.LODYX]X 
.XU]EHGLHQXQJVDQOHLWXQJ 
/
/DGH]XVWDQGGHU$NNXV 
/DXWVSUHFKHU/DXWVWlUNHHLQVWHOOHQ 
/DXWVWlUNH
² +|UHU 
/DXWVWlUNH5XIWRQ 
/LHIHU]XVWDQG 
0
0DNHOQ 
0DNURV 
0HKUIDFKUXIQXPPHU 
0HKU]HOOHQNRQILJXUDWLRQ 
0HORGLH
²5XIWRQ 
0HORGLH5XIWRQ 
0LWK|UHQ
² DP.RPIRUWWHOHIRQ 
² DQGHU)HVWVWDWLRQ 
1
1DFKULFKWHQ
²DQK|UHQ
² :LHGHUJDEHVWDUWHQ 
1DFKULFKWHQDQ]HLJHXQG5XIQXPPHU
ZlKOHQ 
3
3DUNHQ 
3DUNIlKLJNHLW 
3,1lQGHUQ 
4
4XLFNUHIHUHQFHJXLGH 
4XLWWXQJVW|QH 
5
5DXPK|UHQ 
5HF\FOLQJ 
5FNIUDJH 
5FNIUDJHQ 
5FNUXI
² 5FNUXIEHL%HVHW]W 
5FNUXIEHL%HVHW]W 
5XIQXPPHU061 
5XIWRQ
² /DXWVWlUNH 
²0HORGLH
6
6DPPHOUXI 
6HOEVWKLOIH 
6HUYLFH 
6LFKHUKHLW 
6RIWWDVWHQV\PEROH 
6SUDFKHIHVWOHJHQ 
6WDWLRQVDXVZDKO 
6WDWLRQV(LQVWHOOXQJHQ 
6WDWLRQVQDPHQlQGHUQ 
6WXPPVFKDOWXQJ 
6\PEROHLP'LVSOD\ 

7
7DVWHQNOLFN 
7DVWHQVFKXW]HLQDXVVFKDOWHQ 
7HFKQLVFKH'DWHQ 
7HOHIRQEXFK
² (LQWUlJHVXFKHQ 
² (LQWUlJHEHUWUDJHQ 
²O|VFKHQ
² 5XIQXPPHUZlKOHQ 
² 6SHLFKHUSODW]NRQWUROOLHUHQ 
² YHUZDOWHQ 
7HOHIRQLHUHQ 
² PLW]ZHL*HVSUlFKVSDUWQHUQ 

7HOHIRQLHUHQ,6'1 
7HOHIRQLHUHQPLW0HKUHUHQ 
7HOHIRQVSHUUH'LUHNWUXI 
7HOHIRQVSHUUHHLQDXVVFKDOWHQ 
71HW)XQNWLRQ 
71HW)XQNWLRQHQ
² HLQDXVVFKDOWHQ 
7UDJHFOLS 
77DVWH
² (LQWUDJlQGHUQ 
² (LQWUDJHLQJHEHQ 
²(LQWUDJSUIHQO|VFKHQ 
² )XQNWLRQHQIHVWOHJHQ 
77DVWHQ/LVWH
²ZlKOHQ
8
8QWHUVFKLHGHYRQ7DVWHQXQG6RIWWDVWHQ 
:
:lKOHQ
² DXVGHP7HOHIRQEXFK 
² DXVGHU$QUXIHUOLVWH 
² ,QWHUQHH[WHUQH5XIQXPPHU 
:DKOSDXVH
² IU5XIQXPPHU 
:DKOYRUEHUHLWXQJ 
:DKOZLHGHUKROXQJ 
:DKOZLHGHUKROXQJVOLVWH 
:HFKVHOQ]XHLQHUDQGHUHQ6WDWLRQ 
:HLWHUJHEHQ
² *HVSUlFK 
=
=ZHLWHV*HVSUlFKDQQHKPHQ
DEZHLVHQ 
+HUDXVJHEHU
'HXWVFKH7HOHNRP$*%RQQ
bQGHUXQJHQYRUEHKDOWHQ
0DW1U
61U$*$
6WDQG$SULO
… 147 …

Hulp nodig? Stel uw vraag in het forum

Spelregels

Misbruik melden

Gebruikershandleiding.com neemt misbruik van zijn services uitermate serieus. U kunt hieronder aangeven waarom deze vraag ongepast is. Wij controleren de vraag en zonodig wordt deze verwijderd.

Product:

Bijvoorbeeld antisemitische inhoud, racistische inhoud, of materiaal dat gewelddadige fysieke handelingen tot gevolg kan hebben.

Bijvoorbeeld een creditcardnummer, een persoonlijk identificatienummer, of een geheim adres. E-mailadressen en volledige namen worden niet als privégegevens beschouwd.

Spelregels forum

Om tot zinvolle vragen te komen hanteren wij de volgende spelregels:

Belangrijk! Als er een antwoord wordt gegeven op uw vraag, dan is het voor de gever van het antwoord nuttig om te weten als u er wel (of niet) mee geholpen bent! Wij vragen u dus ook te reageren op een antwoord.

Belangrijk! Antwoorden worden ook per e-mail naar abonnees gestuurd. Laat uw emailadres achter op deze site, zodat u op de hoogte blijft. U krijgt dan ook andere vragen en antwoorden te zien.

Abonneren

Abonneer u voor het ontvangen van emails voor uw Telekom Sinus 45 K bij:


U ontvangt een email met instructies om u voor één of beide opties in te schrijven.


Ontvang uw handleiding per email

Vul uw emailadres in en ontvang de handleiding van Telekom Sinus 45 K in de taal/talen: Duits als bijlage per email.

De handleiding is 0,83 mb groot.

 

U ontvangt de handleiding per email binnen enkele minuten. Als u geen email heeft ontvangen, dan heeft u waarschijnlijk een verkeerd emailadres ingevuld of is uw mailbox te vol. Daarnaast kan het zijn dat uw internetprovider een maximum heeft aan de grootte per email. Omdat hier een handleiding wordt meegestuurd, kan het voorkomen dat de email groter is dan toegestaan bij uw provider.

Stel vragen via chat aan uw handleiding

Stel uw vraag over deze PDF

Uw handleiding is per email verstuurd. Controleer uw email

Als u niet binnen een kwartier uw email met handleiding ontvangen heeft, kan het zijn dat u een verkeerd emailadres heeft ingevuld of dat uw emailprovider een maximum grootte per email heeft ingesteld die kleiner is dan de grootte van de handleiding.

Er is een email naar u verstuurd om uw inschrijving definitief te maken.

Controleer uw email en volg de aanwijzingen op om uw inschrijving definitief te maken

U heeft geen emailadres opgegeven

Als u de handleiding per email wilt ontvangen, vul dan een geldig emailadres in.

Uw vraag is op deze pagina toegevoegd

Wilt u een email ontvangen bij een antwoord en/of nieuwe vragen? Vul dan hier uw emailadres in.



Info