,7
DXWRPDWLFDPHQWHLOSURSULRRURORJLRFRQXQVHJQDOH
RUDULR
8
WLOL]]DUHLOVHOHWWRUH
(8
8.
SHUVFH
J
OLHUHLOVH
J
QDOH
GDULFHYHUH
(8VHJQDOH'&)HQWURNPGD)UDQFRIRUWH
*HUPDQLD
8.VHJQDOH06)HQWURNPGD$QWKRUQ
,QJKLOWHUUD
$
WWLYD]LRQH
GLVDWWLYD]LRQHGHOODULFH]LRQHGHOVH
J
QDOH
3HUDWWLYDUHODULFH]LRQHGHOVHJQDOHWHQHUHSUHPXWR
SHUGLVDWWLYDUODWHQHUHSUHPXWR
127$ 3 H U O D U L F H ] L R Q H V R Q R Q H F H V V D U L G D L D L
PLQXWL6HLOVHJQDOHqGHEROHSRVVRQRRFFRUUHUH¿QR
DRUHSHUULFHYHUQHXQRYDOLGR
,QGLFDWRUHGHOODULFH]LRQHGHOVHJQDOHRUDULR
6(*1$/(
)257(
6(*1$/(
'(%2/(
1(6681
6(*1$/(
,03267$=,21(0$18$/('(//¶25$
7HQHUHSUHPXWR&/2&.SHUVHFRQGL
8VDUHLWDVWL
R SHUPRGL¿FDUHOHLPSRVWD]LRQL
3UHPHUH&/2&.SHUFRQIHUPDUH
/¶RUGLQHGHOOHLPSRVWD]LRQLqGLIIHUHQ]DGLIXVR
RUDULRIRUPDWRRUDRUDPLQXWLDQQR
IRUPDWRPHVHJLRUQRPHVHJLRUQRHOLQJXD
127$ /DGLIIHUHQ]DGLIXVRRUDULRLPSRVWDO¶RURORJLR
DRUHULVSHWWRDOO¶RUDGHOVHJQDOHULFHYXWR
127$/HRS]LRQL GHOOD OLQJXD VRQR ( LQJOHVH
'WHGHVFR)IUDQFHVH,LWDOLDQRH6VSDJQROR
3HUVHOH]LRQDUHODPRGDOLWjGLYLVXDOL]]D]LRQH
3UHPHUH&/2&.SHUVFHJOLHUHWUDRUDFRQVHFRQGLH
RUDFRQJLRUQRGHOODVHWWLPDQD
69(*/,$
3HULPSRVWDUHODVYHJOLD
3HUHQWUDUHQHOODPRGDOLWjLPSRVWD]LRQLGHOODVYHJOLD
WHQHUHSUHPXWR$/$50SHUVHFRQGL
8WLOL]]DUH LWDVWL
SHULPSRVWDUHRUDHPLQXWL
3UHPHUH$/$50SHUFRQIHUPDUH/¶LFRQD
LQGLFDFKHODVYHJOLDqDWWLYD
3HUDWWLYDUHGLVDWWLYDUHODVYHJOLD
8WLOL]]DUH$/$50SHUYLVXDOL]]DUHO¶RUDGHOODVYHJOLD
3UHPHUHQXRYDPHQWH$/$50SHUDWWLYDUH
GLVDWWLYDUHODVYHJOLD
3HUDUUHVWDUHODVYHJOLD
3UHPHUH6122=(SHUDUUHVWDUODSHUPLQXWL
23385(
3UHPHUHXQWDVWRTXDOVLDVLSHUVSHJQHUHODVYHJOLDH
SHUDWWLYDUODQXRYDPHQWHGRSRRUH