%ULFRODJH 'HFRUD]LRQH FDVD $UUHGR EDJQR *LDUGLQR EULFRFHQWHULW 2IIHUWH YDOLGH GDO RWWREUH DO QRYHPEUH SURPR]LRQH SURPR]L RQH VFRQWR VFRQW R FFDVLRQL HQLHQ]D FRQYHQLHQ]D PL R VFRQW R FRQYHQLHQ]D FRQYHQLHQ] S U U U U UR R R R R R R R R R R R RP P P P P P P P P P P P P P PR R R R R R R R R R R R R R] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] L L L L L L L L L L L L L L L L L L L L L L L L L R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R R RQH RF F F F F F F F F F F F FR R R R R R R R R RQ Y Y H H H H H H H H H H H H H H H H H H H H HQ Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q QL L L L L L L H H H H H H H H H H H H H HQ]D 7UDSDQR DYYLWDWRUH +LWDFKL 9 $K FDULFDEDWWHULH YHORFLWj PHFFDQLFKH LQ YDOLJHWWD 5HI * ,'($/( 3(5 38/,5( 678)( $ 3(//(7 &$0,1, ( %$5%(&8( * &21 ),/75, € %LGRQH DVSLUDFHQHUH OW : IXQ]LRQH VRI¿DQWH IXVWR LQ PHWDOOR WXER LQ PHWDOOR ULFRSHUWR LQ JRPPD H WHUPLQDOH LQ PHWDOOR FRQ VFXRWL ¿OWUR PRWRUH VLOHQ]LDWR 5HI 0RELOH EDJQR VRVSHVR ³0RRQ´ ¿QLWXUD ODPLQDWR ODULFH FRPSRVWR GD EDVH FRQ WUH DQWH D FKLXVXUD UDOOHQWDWD H PDQLJOLH FURPDWH ODYDER LQ FHUDPLFD ELDQFD PLV /[3 FP VSHFFKLR FRQWHQLWRUH FRQ WUH DQWH D FKLXVXUD SXVK H WUH ULSLDQL LQWHUQL H IDUHWWR FURPDWR DORJHQR 5HI 5XELQHWWR H DFFHVVRUL HVFOXVL € DQ]LFKp € FP FP FP FP FP FP 7U LQ € DQ]LFKp € * %$77(5,( , SUH]]L VRQR FRPSUHQVLYL GL LYD 2IIHUWH YDOLGH GDO RWWREUH DO QRYHPEUH )LQR DG HVDXULPHQWR VFRUWH )DWWD FRPXQLFD]LRQH DO FRPXQH *OL VFRQWL QRQ VRQR FXPXODELOL FRQ DOWUH SURPR]LRQL H VFRQWL &ULVDQWHPR YDVR GLDPHWUR FP FKLRPD FP + FP GLVSRQLELOL LQ YDUL FRORUL 5HI YDULH € DQ]LFKp €