+,1:(,6(81'$//*(0(,1(5$76&+/b*(
)UHLQHRSWLPDOH$XVQXW]XQJ,KUHU.RFKPXOGHOHVHQ6LHELWWHGLH%HGLHQXQJVDQOHLWXQJHQVRUJIlOWLJGXUFKXQGEHZDKUHQ6LH
GLHVH]XPVSlWHUHQ1DFKVFKODJHQJXWDXI
'LHVH$QOHLWXQJLVWQXUIUGLH/lQGHUJOWLJGHUHQ/lQGHUNU]HODXIGHU5FNVHLWHGHU*HEUDXFKVDQZHLVXQJXQGGHV
*HUlWVDQJHIKUWVLQG
+DOWHQ6LHGDV9HUSDFNXQJVPDWHULDO.XQVWVWRIIEHXWHO3RO\VW\UROXVZYRQ.LQGHUQIHUQGDHVHLQHP|JOLFKH
*HIDKUHQTXHOOHGDUVWHOOW
hEHUSUIHQ6LHGDV*HUlWDXIHYHQWXHOOH7UDQVSRUWVFKlGHQXQGHQWIHUQHQ6LHGHQ6FKXW]ILOPYRQGHP*HUlW
'DV*HUlW.ODVVHLVWDXVVFKOLHOLFKIUGLH9HUZHQGXQJDOV+DXVKDOWVNRFKJHUlWEHVWLPPW-HGHUDQGHUH
*HEUDXFK]%GDV+HL]HQYRQ5lXPHQLVWDOVEHVWLPPXQJVIUHPGXQGVRPLWDOVJHIlKUOLFKDQ]XVHKHQ
$FKWHQ6LHGDUDXIGDVVGLH,QVWDOODWLRQXQGGLHHOHNWULVFKHQ$QVFKOVVHYRQHLQHUTXDOLIL]LHUWHQ)DFKNUDIW
XQWHU(LQKDOWXQJGHUJOWLJHQ|UWOLFKHQ6LFKHUKHLWVYRUVFKULIWHQDXVJHIKUWZHUGHQ
'DV*HUlWGDUIHQWVSUHFKHQGGHQJOWLJHQ6LFKHUKHLWVEHVWLPPXQJHQQXULQJXWEHOIWHWHQ5lXPHQ
DXIJHVWHOOWZHUGHQ/HVHQ6LHYRUGHU,QVWDOODWLRQXQGGHP*HEUDXFKVRUJIlOWLJGLH%HGLHQXQJVDQOHLWXQJHQ
GXUFK
'LHHUIRUGHUOLFKHQ*DVXQG'UXFNZHUWHVLQGDXIGHP7\SHQVFKLOGXQWHUGHU.RFKPXOGHDQJHJHEHQ)DOOV
GDV*HUlWIUHLQHDQGHUH*DVDUWDOVGLHYHUIJEDUHHLQJHVWHOOWLVWVLHKH$EVFKQLWW´8PVWHOOHQDXIHLQH
DQGHUH*DVDUWµ
g57/,&+(621'(59256&+5,)7(1
'DV*HUlWZLUGPLWHLQHPNRQLVFKHQ*HZLQGH=ROOIUGHQ*DVDQVFKOXVVJHOLHIHUWJHPl
,62125053
'HU*DVDQVFKOXVVPXVVJHPl6WDQGDUG
1%1'
PLWHLQHUVWDUUHQ/HLWXQJRGHUHQWVSUHFKHQGGHP6SH]LILNDWLRQVEODWW
$5*%
PLWHLQHPIOH[LEOHQ6FKODXFKHUIROJHQ
'DV*HUlWPXVVPLWHLQHPQDFK
$*%]XJHODVVHQHQ
$EVSHUUYHQWLOLQVWDOOLHUWZHUGHQ
+,1:(,6(=8080:(/76&+87=
9HUSDFNXQJ
'DV9HUSDFNXQJVPDWHULDOLVW]XZLHGHUYHUZHUWEDUXQGWUlJWGDV5HF\FOLQJ6\PERO GDVHVDOVHLQHQ0DWHULDOW\S
DXVZHLVWGHUGHQORNDOHQ$EIDOO6DPPHOVWHOOHQ]XEHUJHEHQLVW
3URGXNW
'LH.RFKPXOGHLVWDXVZLHGHUYHUZHUWEDUHP0DWHULDOKHUJHVWHOOW9RUGHU(QWVRUJXQJGDV6WURPNDEHODEVFKQHLGHQXP
GDV*HUlWXQEUDXFKEDU]XPDFKHQXQGGHQ*DVKDKQVFKOLHHQhEHUJHEHQ6LHGDV*HUlWLQ$QOHKQXQJDQGLHORNDOHQ
%HVWLPPXQJHQGHQ$EIDOO6DPPHOVWHOOHQ
.RQIRUPLWlWVHUNOlUXQJ
'LH.RFKPXOGHZXUGHHQWVSUHFKHQGIROJHQGHU5LFKWOLQLHQHQWZLFNHOWXQGKHUJHVWHOOW
6LFKHUKHLWVYRUVFKULIWHQGHU(*5LFKWOLQLH´*DVµ
6LFKHUKHLWVYRUVFKULIWHQGHU(*5LFKWOLQLH´1LHGHUVSDQQXQJµ
6FKXW]YRUVFKULIWHQGHU(*5LFKWOLQLH´(09µ
9RUVFKULIWHQGHU(*5LFKWOLQLH
'LHVH.RFKPXOGHLVWIUGHQ.RQWDNWPLW/HEHQVPLWWHOQJHHLJQHWXQGHQWVSULFKWGHU(*5LFKWOLQLH
%(
$10(5.81*
8QVDFKJHPlHU*HEUDXFKGHU5RVWHNDQQGLH.RFKPXOGHEHVFKlGLJHQ/HJHQ6LHGLH5RVWHQLFKWXPJHNHKUWDXIGLH
.RFKPXOGHXQGODVVHQ6LHVLHQLFKWDXIGHU.RFKPXOGHVFKOHLIHQ
9HUZHQGHQ6LHEHL.RFKPXOGHQPLW*ODVNHUDPLNREHUIOlFKHQLH
*ULOOURVWHDXV*XVVHLVHQ7|SIHXQG3IDQQHQDXV7RQ
5RVWDXIVHW]HUZLH]%'UDKWQHW]H
=ZHL.RFKVWHOOHQIUGHQVHOEHQ7RSI
%HLOlQJHUHU%HQXW]XQJGHV*HUlWHVNDQQHLQH]XVlW]OLFKH%HOIWXQJHUIRUGHUOLFKZHUGHQgIIQHQHLQHV)HQVWHUVRGHU
(UK|KXQJGHU$EVDXJOHLVWXQJGHU$E]XJVKDXEH
+DOWHQ6LHZlKUHQGGHV%HWULHEVGHU.RFKPXOGH.LQGHUYRP*HUlWIHUQXQGODVVHQ6LHGLH.LQGHUQLFKWPLWGHQ
%HGLHQNQ|SIHQRGHUDQGHUHQ*HUlWHWHLOHQVSLHOHQ
9RUVLFKW
'LH*XPPLIHGHU7RSIKDOWHUXQJN|QQHQYRQNOHLQHQ.LQGHUQYHUVFKOXFNWZHUGHQ$FKWHQ6LHQDFKGHU
5HLQLJXQJGHU7RSIKDOWHUXQJHQDXIGHQNRUUHNWHQ6LW]GHU*XPPLIH
$FKWXQJ
'LHHYHQWXHOOYRUKDQGHQH*ODVDEGHFNXQJNDQQEHLhEHUKLW]XQJ]HUVSULQJHQ%HYRU6LHGLH$EGHFNXQJ
VFKOLHHQDFKWHQ6LHGDUDXIGDVVDOOH%UHQQHUDXVJHVFKDOWHWVLQG
9HUJHZLVVHUQ6LHVLFKQDFKGHP*HEUDXFKGDVVGLH%HGLHQNQ|SIHDXIGLH3RVLWLRQ2))JHGUHKWVLQGXQGGUHKHQ6LHGHQ
*DVKDKQRGHUGDV9HQWLOGHU*DVIODVFKH]X
0217$*(
7HFKQLVFKH,QIRUPDWLRQHQIUGHQ,QVWDOODWHXU
'LHVH.RFKPXOGHNDQQLQHLQH$UEHLWVSODWWHPLWHLQHU6WlUNHYRQELVPPHLQJHODVVHQZHUGHQ
,VWXQWHUGHU.RFKPXOGHNHLQ%DFNRIHQYRUJHVHKHQPXVVGRUWHLQ7UHQQERGHQDQJHEUDFKWZHUGHQGHU
PLQGHVWHQVHEHQVRVRJURZLHGLH$XVVSDUXQJGHU$UEHLWVSODWWHLVW'HU7UHQQERGHQLVWLQHLQHP
+|FKVWDEVWDQGYRQPPYRQGHU2EHUVHLWHGHU$UEHLWVSODWWH]XLQVWDOOLHUHQGHU$EVWDQGYRQGHU
8QWHUVHLWHGHU.RFKPXOGHPXVVGDEHLMHGRFKPLQGHVWHQV PPEHWUDJHQ)DOOV6LHHLQHQ%DFNRIHQXQWHU
GHU.RFKPXOGHLQVWDOOLHUHQP|FKWHQYHUZHQGHQ6LHQXUHLQPLWHLQHP.KOV\VWHPDXVJHVWDWWHWHV
:KLUOSRRO3URGXNW'HU+HUVWHOOHULVWYRQMHGHU+DIWXQJIUHLJHVWHOOWZHQQXQWHUGHU.RFKPXOGHHLQH
DQGHUH%DFNRIHQPDUNHHLQJHEDXWZLUG
$FKWHQ6LHYRUGHU,QVWDOODWLRQGDUDXIGDVV
GLH*HJHEHQKHLWHQGHUORNDOHQ*DVYHUVRUJXQJ*DVDUWXQG*DVGUXFNPLWGHQ(LQVWHOOXQJHQGHU.RFKPXOGH
YHUHLQEDUVLQGVLHKH7\SHQVFKLOGXQG'VHQWDEHOOH
'LH$XHQVHLWHQGHUDQGLH.RFKPXOGHDQJUHQ]HQGHQ(LQEDXP|EHORGHU*HUlWHPVVHQJHPl|UWOLFKHU9RUVFKULIWHQ
KLW]HEHVWlQGLJVHLQ
9HUEUHQQXQJVSURGXNWHPVVHQPLWKLOIHYRQVSH]LHOOHQ$E]XJVKDXEHQRGHUPLWHOHNWULVFKHQ:DQGXQGRGHU
)HQVWHUOIWHUQQDFKDXHQDEJHIKUWZHUGHQ
.RQWLQXLHUOLFKHQDWUOLFKH/XIWXPZlO]XQJLVWGXUFKHLQH:DQG|IIQXQJYRQPLQGHVWHQVFP
]XJHZlKUOHLVWHQ
'LH:DQG|IIQXQJPXVV
D SHUPDQHQWLQHLQHU$XHQZDQGGHV]XEHOIWHQGHQ5DXPVDQJHEUDFKWVHLQ
E VREHVFKDIIHQVHLQGDVVVLHZHGHUYRQDXHQQRFKYRQLQQHQXQGDXFKQLFKW]XIlOOLJYHUVWRSIWZHUGHQNDQQ
F GXUFK.XQVWVWRII0HWDOOJLWWHURGHUlKQOLFKHPJHVFKW]WVHLQGLHMHGRFKQLFKWGLHRDHIIHNWLYH(QWOIWXQJVIOlFKH
UHGX]LHUHQGUIHQ
G LQ%RGHQQlKHVRDQJHEUDFKWVHLQGDVVGHU%HWULHEGHU$E]XJVDQODJHQLFKWJHVW|UWZLUG