Istruzioni per l'uso MITSUBISHI TRIUM GEO@

[. . . ] SHUFRQIHUPDUHO LPPLVVLRQH 3UHPHUH(VFL SHUWRUQDUHDOODSUHFHGHQWHVFKHUPDWDR SHU WRUQDUHLQPRGRVWDQGE\ 6HVLqDEERQDWLDOVHUYL]LR$/66HUYL]LR/LQHD$OWHUQDWDLOQXPHURGHOFHQWURGL6HJUHWHULD9RLFH0DLO GRYUjHVVHUHPHPRUL]]DWRVHSDUDWDPHQWHSHUODVHFRQGDOLQHD, OQXPHURGHOFHQWURGL6HJUHWHULD9RLFH 0DLOYLHQHDXWRPDWLFDPHQWHDVVHJQDWRDOWDVWRQXPHURGHOODVHOH]LRQHUDSLGD9HGHUH´6HOH]LRQH UDSLGDµSDJLQD $WWLYD]LRQHGLVDWWLYD]LRQHDOODUPH6HJUHWHULD 6HVLGHVLGHUDHVVHUHDYYHUWLWLGHOO DUULYRGLXQPHVVDJJLRYRFDOHGDXQDO ODUPHDFXVWLFR 3UHPHUH 6HOH]LRQDUH6HJUHWHULD 6HOH]LRQDUH$OODUPH6L1R6HOH]LRQDUH$WWLYDR'LVDWWLYD 3UHPHUH(VFL SHUWRUQDUHDOODSUHFHGHQWHVFKHUPDWDR SHU WRUQDUHLQPRGRVWDQGE\ &RPHFKLDPDUHODVHJUHWHULD 9LVRQRGXHPRGDOLWj 4XDQGRVLULFHYHXQPHVVDJJLRYRFDOHFRPSRUUHGLUHWWDPHQWHLO QXPHURGHOFHQWURGL6HJUHWHULD9RLFH0DLO 7HQHUHSUHPXWR 2SSXUH 3UHPHUH 6HOH]LRQDUH6HJUHWHULD 6HOH]LRQDUH&KLDPDUH6HJUHWHULD , OQXPHURYHUUjFRPSRVWRFRPHSHUXQDWHOHIRQDWDQRUPDOH 6HXQQXPHURGL6HJUHWHULD9RLFH0DLOQRQqVWDWRPHPRUL]]DWRLQSUHFHGHQ]DYHUUjFKLHVWRGL LPPHWWHUHTXHVWRQXPHUR3URFHGHUHFRPHGHVFULWWRLQ´0HPRUL]]D]LRQHQXPHURVHJUHWHULDWHOHIRQLFDµD SDJLQD 5XEULFDQXPHUL /DVFKHGD6, 0HLOWHOHIRQRSRVVLHGRQR]RQHGLPHPRULDXWLOL]]DWHSHUDUFKLYLDUHL QRPLHLQXPHULWHOHIRQLFL4XHVWD]RQDVLFKLDPD5XEULFDQXPHUL , OWHOHIRQRSXzPHPRUL]]DUHILQRDFLIUHHFDUDWWHULDOIDEHWLFLLQRJQXQDGHOOHVXH SRVL]LRQLGLPHPRULD, OWHOHIRQRVXSSRUWDLQROWUHOHVFKHGH6, 0GRWDWHGLPHPRULHDO PDVVLPRLOQXPHURHODFDSDFLWjUHDOHGLSHQGRQRGDOOD6, 0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jGLLPPLVVLRQHWHVWRq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HBSRVVRQRHVVHUHPHPRUL]]DWLLQVLHPHDLQX PHUL6HODPHPRULDGHOODVFKHGD6, 0RGHOWHOHIRQRqSLHQDYLHQHYLVXD OL]]DWRXQPHVVDJJLRGLDYYHUWHQ]DTXDQGRYLHQHVHOH]LRQDWD 6SD]LROLEHURQHOOD5XEULFDWHOHIRQLFD 3UHPHUH 3HUYHGHUHTXDQWHSRVL]LRQLOLEHUHGHOOD5XEULFDQXPHULULPDQJRQRQHOOD VFKHGD6, 0RQHOWHOHIRQR 6HOH]LRQDUH5XEULFDQXPHUL 6HOH]LRQDUH6SD]LROLEHURHXWLOL]]DUH R SHUYLVXDOL]]DUHOR VSD]LRPHPRULDOLEHURQHOODVFKHGD6, 0RQHOWHOHIRQR 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 6HVRQRGLVSRQLELOLYHQJRQRYLVXDOL]]DWHDQFKHOHPHPRULHOLEHUHQHOO HOHQFR)'1QXPHULILVVL 9LVXDOL]]D]LRQHHFKLDPDWDGHLQXPHULGHOOD5XEULFDQXPHUL /HPHPRULHGHOOD5XEULFDQXPHULSRVVRQRHVVHUHULFKLDPDWHVXOGLVSOD\SHUHV VHUHPRGLILFDWHFDQFHOODWHFRSLDWHVSRVWDWHYHUVRLOWHOHIRQRRODVFKHGD6, 09L VRQRGXHSURFHGXUHSHUYLVXDOL]]DUHHFKLDPDUHLQXPHULGHOOD5XEULFDQXPHUL 'LUHWWDPHQWHGDOPRGRVWDQGE\ 3UHPHUH SHUYLVXDOL]]DUHO HOHQFRGHOOD5XEULFDQXPHUL 8VDQGRLOPHQX 3UHPHUH HVHOH]LRQDUH5XEULFDQXPHUL 6HOH]LRQDUH5LFHUFD1RPH 3UHPHUH2. RLPPHWWHUHOHLQL]LDOLDOPDVVLPRGHOQRPH GHVLGHUDWRHSRLSUHPHUH2. [. . . ] SHUFRQIHUPDUH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 4XDQGRqVWDWRLPPHVVRXQOLPLWHGLFUHGLWRVXOGLVSOD\/LPLWHFUHGLWRVLSRWUjVHOH]LRQDUH0RGLILFDR &UHGLWRLOOLPLWDWR 9LVXDOL]]DFRVWL 3UHPHUH 6HOH]LRQDUH&KLDPDWHHFRVWL 6HOH]LRQDUH&RVWLFKLDPDWH 'HVFUL]LRQHPHQXSULQFLSDOH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 6HOH]LRQDUH9LVXDOL]]D 8WLOL]]DUH R SHUYLVXDOL]]DUHLOFRVWRGHOO 8OWLPDFKLDPDWD 7XWWHOHFKLDPDWHHLO&UHGLWRUHVLGXR 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ , OFUHGLWRUHVLGXRYLHQHYLVXDOL]]DWRVLDLQVFDWWLFKHLQYDOXWDFRVuFRPHqVWDWRLPSRVWDWRQHOPHQX7LSR GLFRVWRGHVFULWWRVRSUD &RVWLFKLDPDWD5HVHW 3HUHVHJXLUHXQUHVHWGHLFRVWLGHOOHFKLDPDWH 3UHPHUH 6HOH]LRQDUH&KLDPDWHHFRVWL 6HOH]LRQDUH&RVWLFKLDPDWH 6HOH]LRQDUH5HVHWWD 6HOH]LRQDUH6uSHUULD]]HUDUHLFRVWLRSSXUH1RSHUXVFLUH 6HVLVHOH]LRQD6uGLJLWDUHLOFRGLFH3, 1HSUHPHUH2. 9HUUj YLVXDOL]]DWREUHYHPHQWH5HVHW(VHJXLWR 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 6HUYL]LRGLOLQHDDOWHUQDWDVHOH]LRQHGHOODOLQHD $OFXQLRSHUDWRUL*60VXSSRUWDQRO XVRGLXQDVHFRQGDOLQHDDFXL SRVVRQRDYHUHDFFHVVRDOFXQLXWHQWL6LWUDWWDQRUPDOPHQWHGLXQVHUYL]LR SHUDEERQDWLFKHFRQVHQWHDGHVHPSLRGLGLYLGHUHOHFKLDPDWHDGXVRSUL YDWRGDTXHOOHDGXVRSURIHVVLRQDOH/DVHFRQGDOLQHDDYUjLOSURSULRQX PHURGLWHOHIRQR 3UHPHUH 6HOH]LRQDUH&KLDPDWHHFRVWL 6HOH]LRQDUH6HOH]LRQH/LQHDHSUHPHUH 9HUUjYLVXDOL]]DWDODVHOH]LRQHGLOLQHDFRUUHQWH 8WLOL]]DUH RSSXUH SHUDQGDUHVXOODOLQHDGHVLGHUDWDH SUHPHUH2. R SHUFRQIHUPDUHODVHOH]LRQH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ ËSRVVLELOHDVVHJQDUHXQQRPHDOOD/LQHDDGHVHPSLR8IILFLRHXQQRPHDOOD/LQHDDGHVHPSLR &DVD3HUPDJJLRULLQIRUPD]LRQLIDUHULIHULPHQWRDOPHQX1XPHULSHUVRQDOLDSDJLQD 6HUYL]L*60 7UDVIHULPHQWRFKLDPDWH , OWUDVIHULPHQWRGLFKLDPDWHqXQVHUYL]LRFKHFRQVHQWHGLWUDVIHULUHYHUVR XQDOWURQXPHURWHOHIRQLFROHFKLDPDWHLQDUULYR 3HUDWWLYDUHXQWUDVIHULPHQWRGLFKLDPDWD 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH7UDVIHULUH&KLDPDWH6FHJOLHUHXQDGHOOHVHJXHQWL RS]LRQL 2S]LRQLGL WUDVIHULPHQWR 7XWWHOHFKLDPDWH 6HQRQUDJJLXQJLELOH 6HQRQVLULVSRQGH 6HRFFXSDWR 7XWWHOHFRQGL]LRQL 'LVDWWLYDWXWWR /HFKLDPDWH)$; /HFKLDPDWH'$7, $]LRQH 7UDVIHULVFHWXWWHOHFKLDPDWHYRFDOLLQDUULYR 7UDVIHULVFHWXWWHOHFKLDPDWHYRFDOLTXDQGR LOWHOHIRQRQRQqUDJJLXQJLELOH 7UDVIHULVFHWXWWHOHFKLDPDWHYRFDOLTXDQGR LOWHOHIRQRQRQULVSRQGH 7UDVIHULVFHWXWWHOHFKLDPDWHYRFDOLTXDQGR LOWHOHIRQRqRFFXSDWR 7UDVIHULVFHWXWWHOHFKLDPDWHYRFDOLTXDQGR LOWHOHIRQRQRQqUDJJLXQJLELOHQRQ ULVSRQGHRqRFFXSDWR &DQFHOODWXWWLLWUDVIHULPHQWLLPSRVWDWL 7UDVIHULVFHWXWWHOHFRPXQLFD]LRQLID[ 7UDVIHULVFHWXWWHOHFRPXQLFD]LRQLGLGDWL 6HO XWHQWHVHOH]LRQDO RS]LRQH6HQRQVLULVSRQGHJOLYHUUjFKLHVWRGLLPPHWWHUHXQSHULRGRGLDWWHVD GLRVHFRQGL , OWUDVIHULPHQWRGLFKLDPDWDGHYHHVVHUHLPSRVWDWRVHSDUDWDPHQWHSHUOD/LQHDHOD/LQHD 3HUGLVDWWLYDUHRFRQWUROODUHORVWDWRGHOWUDVIHULPHQWRFKLDPDWD 3UHPHUH 6HOH]LRQDUH6HUYL]L*606HOH]LRQDUH7UDVIHULUH &KLDPDWH 6HOH]LRQDUHXQDGHOOHRS]LRQLGLWUDVIHULPHQWRHSUHPHUH 6HOH]LRQDUH'LVDWWLYDUHR9HULILFDVWDWR /DVHOH]LRQHYHUUjFRQIHUPDWD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3HUDQQXOODUHWXWWLLWUDVIHULPHQWL 3UHPHUH 6HOH]LRQDUH6HUYL]L*606HOH]LRQDUH7UDVIHULUH &KLDPDWH 6HOH]LRQDUH'LVDWWLYDWXWWR/DFRQIHUPDGHOO RSHUD]LRQHYHUUj YLVXDOL]]DWD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 4XHVWDD]LRQHDQQXOODWXWWLLWUDVIHULPHQWLGLFKLDPDWDSHUODOLQHDDWWXDOPHQWHLQXVRYHGHUHSDJLQD SHUODVHOH]LRQHGHOODOLQHD1RQq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qODYLVXDOL]]D]LRQH GHOQXPHUR, 'GHOODSHUVRQDFKHFKLDPD , GHQWLILFDWLYRGHOFKLDPDQWH 4XHVWDIXQ]LRQHFRQVHQWHGLVDSHUHVHXQDUHWHVXSSRUWDLOVHUYL]LRGLLQYLR GHOO LGHQWLILLFDWLYRQXPHURGLFKLFKLDPD 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH6HUYL]LR, ' /DUHWHULVSRQGHUj6HUYL]LR'LVSRQLELOHRSSXUH6HUYL]LR1RQ GLVSRQLELOH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ $OFXQHUHWLSHUPHWWRQRGLGLVDWWLYDUHO LQYLRGHOSURSULRQXPHURSHUXQD SDUWLFRODUHFKLDPDWDLQVHUHQGRLOFRGLFHSULPDGHOQXPHURFKHVL GHVLGHUDFKLDPDUH, QDOWHUQDWLYDVHLOVHUYL]LRqGLVDWWLYDWRDOFXQHUHWLSHU PHWWRQRGLDWWLYDUHO LQYLRGHOSURSULRQXPHURSHUXQDSDUWLFRODUHFKLDPD WDLQVHUHQGRLOFRGLFH SULPDGHOQXPHURFKHVLGHVLGHUDFKLDPDUH &RQWDWWDUHO RSHUDWRUHGLVLVWHPDSHUXOWHULRULLQIRUPD]LRQLVXOODGLVSRQL ELOLWjGLWDOLVHUYL]L , PSRVWD]LRQHGLUHWHVWDQGDUG 3HUXWLOL]]DUHOHLPSRVWD]LRQLGLUHWHVWDQGDUGUHODWLYHDOO LQYLRGHOSURSULR QXPHUR 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH, QYLRQXPHUR 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH3UHGHILQLWH , OWHOHIRQRWRUQDDOOHLPSRVWD]LRQLGLUHWHSUHGHILQLWH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 1DVFRQGHUHRLQYLDUHLOSURSULRQXPHUR 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH, QYLRQXPHUR 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH, QYLD1XPHURR1RQ, QYLDUH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH, QYLRQXPHUR 6HOH]LRQDUH9HULILFDVWDWR , OWHOHIRQRYLVXDOL]]DO LPSRVWD]LRQHFRUUHQWHWHQHQGRFRQWRVLD GHOOHLPSRVWD]LRQLGLUHWHFKHGLTXHOOHGHOWHOHIRQR 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 5LFHUFDGHOO LPSRVWD]LRQHFRUUHQWHGL, ' 5LFHUFDGHOODUHWH 4XDQGRLOWHOHIRQRYLHQHDFFHVRFHUFDDXWRPDWLFDPHQWHO XOWLPDUHWHVXOOD TXDOHVLqUHJLVWUDWRJHQHUDOPHQWHODUHWHKRPH6HTXHVWDQRQqGLVSR QLELOHFHUFDDXWRPDWLFDPHQWHHVHOH]LRQDXQDUHWHQHOO HOHQFRGHOOHUHWL SUHIHULWHFRQWHQXWRQHOODVFKHGD6, 0 0RGLILFDGHOO HOHQFRGHOOHUHWLSUHIHULWH , OWHOHIRQRFRQWLHQHXQHOHQFRGHOOHUHWLFKHSRVVRQRHVVHUHVHOH]LRQDWHH WUDVIHULWHYHUVRO HOHQFRGHOOHUHWLSUHIHULWHPHPRUL]]DWRQHOODVFKHGD6, 0 4XHVWRHOHQFRSXzHVVHUHPRGLILFDWRDSLDFHUH / RUGLQHHLOQRPHGHOOHUHWLQHOO HOHQFRGHOOHUHWLSUHIHUHQ]LDOLSXzHVVHUH PRGLILFDWR 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH6HOH]LRQHGHOODUHWH 6HOH]LRQDUH5HWLSUHIHULWH9LHQHYLVXDOL]]DWRXQHOHQFRGLUHWL 8WLOL]]DUH R SHUYLVXDOL]]DUHO HOHQFR 3UHPHUH2S]LRQL SHUPRGLILFDUOR9HQJRQRYLVXDOL]]DWHOH VHJXHQWLRS]LRQL 2S]LRQH (OHQFRUHWL 0RGLILFD &DQFHOOD 'HVFUL]LRQH 3UHPHUH2. 3UHPHUH(VFL SHUFRQIHUPDUHODVHOH]LRQH R SHUWRUQDUHLQPRGRVWDQGE\ /DVFKHGD6, 0SXzFRQWHQHUHXQHOHQFRGLUHWLFKHQRQSRVVRQRHVVHUHXWL OL]]DWH3HUYLVXDOL]]DUHO HOHQFRGHOOHUHWLSURLELWHRODUHWHKRPH 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH6HOH]LRQHGHOODUHWH 6HOH]LRQDUH5HWLSURLELWHR5HWHKRPH 9LHQHYLVXDOL]]DWRXQHOHQFRGHOOHUHWLSURLELWHRODUHWHKRPH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 5LFHUFDUHWHPDQXDOH , QDOFXQLFDVLq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 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH6HOH]LRQHGHOODUHWH 6HOH]LRQDUH5LFHUFD5HWH 6HOH]LRQDUH5LFHUFD$XWRPDWLFD 3UHPHUH(VFL 3HUVHOH]LRQDUHODULFHUFDDXWRPDWLFDGHOODUHWHSURFHGHUHFRPHVHJXH R SHUWRUQDUHLQPRGRVWDQGE\ /LPLWD]LRQHFKLDPDWHVHUYL]LRGLUHWH 6LWUDWWDGLXQVHUYL]LRGLUHWHFKHFRQVHQWHGLOLPLWDUHOHFKLDPDWHLQDUULYR HRLQXVFLWD 4XHVWDIXQ]LRQHULFKLHGHO XVRGLXQDSDVVZRUGGLUHWHIRUQLWDGDOJHVWRUHGLUHWH 3HUDWWLYDUHOHRS]LRQLGLOLPLWD]LRQH 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH/LPLWD]LRQHFKLDPDWH 6HOH]LRQDUH&KLDPDWHLQXVFLWDR&KLDPDWHLQDUULYR 6FHJOLHUHIUDOHVHJXHQWLRS]LRQL 6HOH]LRQDUH &KLDPDWHLQXVFLWD 7XWWH , QWHUQD]LRQDOL KRPH 6LJQLILFDWR 7XWWHOHFKLDPDWHLQXVFLWDYHUUDQQR EORFFDWH 7XWWHOHFKLDPDWHLQWHUQD]LRQDOLLQXVFLWD YHUUDQQREORFFDWH 7XWWHOHFKLDPDWHLQWHUQD]LRQDOLLQXVFLWD , QWHVFOKRPH HFFHWWRTXHOOHLQGLUL]]DWHDGDOWULDEERQDWL DOO LQWHUQRGHOODUHWHGLXWHQWLKRPH &KLDPDWHLQDUULYR 7XWWHOHFKLDPDWHLQDUULYRYHUUDQQR 7XWWH EORFFDWH 7XWWHOHFKLDPDWHLQDUULYRTXDQGRFLVL 5RDPLQJ WURYDLQXQVLVWHPDHVWHUQRDTXHOORKRPH 6HOH]LRQDUHO RS]LRQHGHVLGHUDWDXWLOL]]DQGR R 3UHPHUH 2. 6HOH]LRQDUH$WWLYDUH, PPHWWHUHODSDVVZRUGHSUHPHUH2. /DUHWHFRQIHUPDODVHOH]LRQH 3UHPHUH(VFL 3UHPHUH R SHUWRUQDUHLQPRGRVWDQGE\ 3HUDWWLYDUHRGLVDWWLYDUHORVWDWRGHOOHRS]LRQLGLHVFOXVLRQH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH/LPLWD]LRQHFKLDPDWH 8WLOL]]DUH R SHUVHOH]LRQDUHO RS]LRQHFKHVLGHVLGHUD GLVDWWLYDUHDQQXOODUHRGLFXLVLYXROHFRQWUROODUHORVWDWRH SUHPHUH 9HUUjULFKLHVWDODSDVVZRUG 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 0RGLILFDGHOODSDVVZRUG 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH/LPLWD]LRQHFKLDPDWH 6HOH]LRQDUH0RGLILFD3DVVZRUG 9HUUjULFKLHVWRGLLPPHWWHUHODYHFFKLDSDVVZRUGHSRLGLLPPHWWHUH GXHYROWHODQXRYDSDVVZRUG9LHQHYLVXDOL]]DWDODFRQIHUPD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ *UXSSRFKLXVRXWHQWL&8*VHUYL]LRVRORSHUDEERQDWL 3UHPHUH 6HOH]LRQDUH6HUYL]L*60 6HOH]LRQDUH*UXSSR&KLXVR&8*9LHQHYLVXDOL]]DWRORVWDWR FRUUHQWHGLTXHVWRVHUYL]LR3UHPHQGR, PSRVWD YHQJRQR YLVXDOL]]DWHOHVHJXHQWLRS]LRQL , O&8*YLHQHGLVDWWLYDWR1HVVXQJUXSSRqDWWLYR/H FKLDPDWHSRVVRQRHVVHUHHIIHWWXDWHDOGLIXRULGDO JUXSSR &KLDPDWHOLPLWDWHYHUVRHGDXWHQWLHVWHUQLDOJUXSSRH &8*SDU]LDOH GDXWHQWLGHOJUXSSR 6ROROHFKLDPDWHHIIHWWXDWHHULFHYXWHDOO LQWHUQRGHO $WWLYD&8* JUXSSR 'LVDWWLYD &8* 2S]LRQL 6LJQLILFDWR 8WLOL]]DUH R SHUVHOH]LRQDUHO RS]LRQHGHVLGHUDWD3UHPHUH HVHJXLUHOHLVWUX]LRQLVXOGLVSOD\ 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 'LVDWWLYD&8*qO LPSRVWD]LRQHSHUXQXVRQRUPDOH 'HVFUL]LRQHPHQXSULQFLSDOH 6LWUDWWDGLXQVHUYL]LRGLUHWHFKHFRQVHQWHGLHIIHWWXDUHRULFHYHUHWHOHIR QDWHVRORDGDXQJUXSSRVHOH]LRQDWRGLSHUVRQH/ LPSRVWD]LRQHGHLJUXS SLGHLOLYHOOLGLDFFHVVRHGHJOLDFFHVVLSULYLOHJLDWLSHUXQGHWHUPLQDWR JUXSSRYLHQHHIIHWWXDWDDOPRPHQWRGHOO DEERQDPHQWR4XHVWDIXQ]LRQH QRQqGHVWLQDWDDGXQVLQJRORXWHQWHPDSLXWWRVWRDOOHVRFLHWjFKHYRJOLR QRXVXIUXLUHGLFRPXQLFD]LRQLLQWHUQHFKLXVH 6LSRVVRQRLPSRVWDUHXQPDVVLPRGLJUXSSL/HWHOHIRQDWHHIIHWWXDWHR ULFHYXWRYHUVRRGDQXPHULHVWHUQLDOJUXSSRVRQRYLHWDWHWUDQQHVSHFLILFD DXWRUL]]D]LRQH 3HUDWWLYDUHRGLVDWWLYDUHODIXQ]LRQH&8*HVHOH]LRQDUHLOWLSRGLVHUYL]LR &8* 0HVVDJJLGLUHWH&HOO%URDGFDVW 6LWUDWWDGLPHVVDJJLGLIIXVLGDOOHUHWLDWXWWLJOLXWHQWL*60SHUIRUQLUHLQIRUPD]LRQL GLFDUDWWHUHJHQHUDOHULJXDUGDQWLLOQRPHGHOO DUHDORFDOHSUHYLVLRQLPHWHRQRWL]LH VXOWUDIILFRVWUDGDOHHFF$GRJQLWLSRGLPHVVDJJLRqDWWULEXLWRXQQXPHURFKHID FLOLWDODVHOH]LRQHGHOWLSRGLLQIRUPD]LRQLFKHO XWHQWHGHVLGHUDULFHYHUH6LSRVVRQR SURJUDPPDUHILQRDGLYHUVLWLSLGLPHVVDJJLPDqSRVVLELOHYLVXDOL]]DUQHVROWDQWR XQRDOODYROWD , OWHOHIRQRFRQWLHQHWLSLGLPHVVDJJLVWDQGDUGSUHSURJUDPPDWL6HQHSRVVRQR LQVHULUHGLQXRYLXVDQGRLOULVSHWWLYRQXPHURGLFRGLFH&%DFLIUH3HUPDJJLRUL LQIRUPD]LRQLVXOQXPHURHVXLWLSLGLPHVVDJJLULYROJHUVLDOIRUQLWRUHGLVHUYL]L 3ULPDGLDWWLYDUHLOVHUYL]LR&%qQHFHVVDULRVHOH]LRQDUHDOPHQRXQWLSRGLPHVVDJ JLRQHOO HOHQFRGLVHOH]LRQH &RPHLQVHULUHXQWLSRGLPHVVDJJLRQHOODOLVWD /DOLVWDGLVHOH]LRQHGHLPHVVDJJLGLUHWHSXzFRQWHQHUHVLQRDWLSLGLPHV VDJJLR 3UHPHUH 6HOH]LRQDUH0HVVDJJLGLUHWH 6HOH]LRQDUH7LSLGLPHVVDJJL3UHPHUH2S]LRQL 6HOH]LRQDUH0RGLILFDGDOLVWDRSSXUH0RGLILFDFRQFRGLFHVH qQRWRLOQXPHURDVVRFLDWRDOWLSRGLPHVVDJJLR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z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VHQHFHVVDULRVLSXzDWWL YDUHXQWRQRGLDOODUPHFKHVHJQDOHUjRJQLPHVVDJJLR&%ULFHYXWRQXRYR RDJJLRUQDWR 3UHPHUH 6HOH]LRQDUH0HVVDJJLGLUHWH 6HOH]LRQDUH$OODUPH6L1R 6HOH]LRQDUH$WWLYDRSSXUH'LVDWWLYD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3HUFDQFHOODUHRPRGLILFDUHXQPHVVDJJLRQHOO HOHQFR , WLSLGLPHVVDJJLRSUHVHQWLQHOO HOHQFRGLVHOH]LRQHSRVVRQRHVVHUHFDQFHO ODWLRPRGLILFDWL 3UHPHUH 6HOH]LRQDUH0HVVDJJLGLUHWH 6HOH]LRQDUH7LSLGLPHVVDJJL6HOH]LRQDUH2S]LRQL 6HOH]LRQDUH&DQFHOOD0RGLILFDR/LVWDPHVVDJJL 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 6HOH]LRQHOLQJXDGLULFH]LRQHPHVVDJJLGLUHWH , PHVVDJJLGLUHWHSRVVRQRHVVHUHYLVXDOL]]DWLLQXQDGHOOHVHJXHQWLOLQ JXH)UDQFHVH*UHFR, QJOHVH, WDOLDQR2ODQGHVH3RUWRJKHVH6SDJQROR 7HGHVFR 3HUVHOH]LRQDUHODOLQJXDSUHVFHOWD 3UHVV 6HOH]LRQDUH0HVVDJJLGLUHWH 6HOH]LRQDUH/LQJXD 8WLOL]]DUH R SHUVHOH]LRQDUHXQDOLQJXDQHOO HOHQFR YLVXDOL]]DWR3UHPHUH SHUFRQYDOLGDUH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 'HVFUL]LRQHPHQXSULQFLSDOH , PSRVWD]LRQLGHOWHOHIRQR SHUVRQDOL]]D]LRQHGHOWHOHIRQR %ORFFRWDVWLHUD $WWLYDQGRLOEORFFRWDVWLHUDVLHYLWDO XVRDFFLGHQWDOHGHOWHOHIRQRHO DFFHV VRDLPHQX/HWRQDOLWjHPHVVHGDLWDVWLYHQJRQRLQROWUHHOLPLQDWH , OEORFFRWDVWLHUDVLGLVDWWLYDDXWRPDWLFDPHQWHTXDQGRVLULFHYHXQDWHOH IRQDWDHVLULDWWLYDTXDQGRODWHOHIRQDWDqWHUPLQDWD/HFKLDPDWHGLHPHU JHQ]DSRVVRQRHVVHUHHIIHWWXDWH6HVLSUHPHXQWDVWRLOGLVSOD\YLVXDOL]]D XQPHVVDJJLRSHUULFRUGDUHFKHODWDVWLHUDqEORFFDWD /DWDVWLHUDSXzHVVHUHDWWLYDWDRGLVDWWLYDWDLQGXHPRGL 'LUHWWDPHQWHGDOWDVWLHULQRQXPHULFRLQPRGRVWDQGE\ 3UHPHUHHWHQHUHSUHPXWR SHUDWWLYDUHLOEORFFRGHOODWDVWLHUD , OGLVSOD\YLVXDOL]]D 3UHPHUHLQVHTXHQ]D6EORFFR H SHUGLVDWWLYDUHLOEORFFR GHOODWDVWLHUD 8VDQGRLOPHQX 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH%ORFFRWDVWLHUDSHUDWWLYDUHLOEORFFRGHOODWDVWLHUD 3UHPHUHLQVHTXHQ]D6EORFFR H SHUGLVDWWLYDUHLOEORFFR GHOODWDVWLHUD 6HODIXQ]LRQHQRQqVWDWDSURJUDPPDWDSHUXQWDVWRVRIWNH\YHGHUHDSDJLQDWHQHQGRSUHPXWRLO WDVWRVLEORFFKHUjRVEORFFKHUj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jGL 9LEUD]LRQH WXWWLJOLDOODUPLYHUUDQQRVRVWLWXLWLFRQ WDOHPRGDOLWjGLVHJQDOD]LRQH /DGLVDWWLYD]LRQHSXzHVVHUHHIIHWWXDWDLQGXHPRGL 'LUHWWDPHQWHGDOPRGRVWDQGE\ , QPRGRVWDQGE\SUHPHQGR YHUUjYLVXDOL]]DWRLOPHQXGL VHOH]LRQHVHJQDOHGLFKLDPDWDFRQOHVHJXHQWLSRVVLELOLWj 6HJQDOD]LRQLQRUPDOL9LEUD]LRQH9LEUD]LRQHHVXRQHULDR 9LEUDHSRLVXRQHULD 6HOH]LRQDUHO LPSRVWD]LRQHGHVLGHUDWDWUDPLWH R H FRQIHUPDUHSUHPHQGR , OWHOHIRQRYLEUHUjEUHYHPHQWHVH YLHQHLPSRVWDWDXQDGHOOHPRGDOLWDGL YLEUD]LRQH  DSSDULUjVXOGLVSOD\ 6HVLVHOH]LRQD 6HJQDOD]LRQLQRUPDOL PDLOYROXPHGHOODVXRQHULDqLPSRVWDWRVXOOR]HURGLVDWWLYDWR DSSDULUjVXOGLVSOD\ YHUUjYLVXDOL]]DWDVHYLHQHVHOH]LRQDWDXQDGHOOHPRGDOLWjGL 9LEUD]LRQH 7DOHLFRQDVRVWLWXLVFH HYHQWXDOPHQWHTXHOODGLYROXPHVXRQHULDGLVDWWLYDWR  8VDQGRLOPHQX 6HVLVHOH]LRQD 6HJQDOD]LRQLQRUPDOL PDLOYROXPHGHOODVXRQHULDqLPSRVWDWRVXOOR]HURGLVDWWLYDWR 6HLOWHOHIRQRqFROOHJDWRDGXQGLVSRVLWLYRGLULFDULFDFDULFDEDWWHULHGDWDYRORDGDWWDWRUH&/$R$&'& RSSXUHDONLWYLYDYRFHODPRGDOLWj 9LEUD]LRQH VDUjVRVWLWXLWDGDOODPRGDOLWjGLVHJQDOD]LRQLQRUPDOL DSSDULUjVXOGLVSOD\ 6HOH]LRQHGHOODVXRQHULD / XWHQWHSXz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zHVVHUHUHJRODWRWUDPLWH 5DPSLQJ 6HLOYROXPHGHOODVXRQHULDqLPSRVWDWRVXOOR]HURGLVDWWLYDWR DSSDULUjVXOGLVSOD\ 6HqDWWLYDWDTXHVWDIXQ]LRQHLOYROXPHGHOODVXRQHULDLQHQWUDWDDXPHQ WHUjJUDGXDOPHQWHILQRDOYROXPHPDVVLPRVHO XWHQWHQRQULVSRQGHDOOD FKLDPDWDGRSRLOSULPRVTXLOOR 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH$OODUPLH9ROXPL 6HOH]LRQDUH9ROXPL 6HOH]LRQDUH5DPSLQJ 6HOH]LRQDUH6LR1R 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 6Hq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jDFFHVD &RQWUDVWRGLVSOD\ , OFRQWUDVWRGHOGLVSOD\SXzHVVHUHUHJRODWRVHFRQGROHFRQGL]LRQLGLOXFH GHOO DPELHQWH 3HUPRGLILFDUHLOFRQWUDVWRGHOGLVSOD\ 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH'LVSOD\ 6HOH]LRQDUH&RQWUDVWR 5HJRODUHLOFRQWUDVWRXWLOL]]DQGR R 3UHPHUH2. SHUFRQIHUPDUHO LPSRVWD]LRQH 5LVSRVWDFRQTXDOVLDVLWDVWR 4XHVWDIXQ]LRQHFRQVHQWHGLSUHPHUHTXDOVLDVLWDVWRWUDQQHLWDVWL H $WWHQGL SHUULVSRQGHUHDGXQDFKLDPDWDLQDUULYR 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH7DVWLHUD6HOH]LRQDUH5LVSRVWDDGRJQLWDVWR 6HOH]LRQDUH$WWLYDRSSXUH'LVDWWLYD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3URJUDPPD]LRQHWDVWLIXQ]LRQH6RIWNH\V /DIXQ]LRQHGDDVVRFLDUHDLWDVWLIXQ]LRQHGLGHVWUDHGLVLQLVWUDVRIWNH\V SXz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qDWWLYDYLHQHYLVXDOL]]DWR5LSURYDDXWRPDWLFDHGLO WHPSRGLDWWHVDSHUXQQXRYRWHQWDWLYRHGLOWHOHIRQRHPHWWHXQVHJQDOH DFXVWLFRDGRJQLQXRYRWHQWDWLYRGLFRQQHVVLRQH 6HODULSHWL]LRQHDXWRPDWLFDULHVFHSURFHGHUHQRUPDOPHQWHFRQODWHOHIR QDWD 3UHPHQGR(VFL RXQWDVWRTXDOVLDVLGXUDQWHLOWHQWDWLYRGLULVHOH]LRQH VLLQWHUURPSHODIXQ]LRQH )XQ]LRQLGLVLFXUH]]D /HIXQ]LRQLGLVLFXUH]]DGHVFULWWHTXLGLVHJXLWRSURWHJJRQRLOWHOHIRQRGD XQXVRQRQDXWRUL]]DWR 4XDQGRYLHQHULFKLHVWRLPPHWWHUHLOFRGLFHFKHDSSDUHVRWWRIRUPDGL DVWHULVFKL HSUHPHUH2. , QFDVRGLHUURUHSUHPHUH(OLPLQD HGLJLWDUHODFLIUDFRUUHWWD (YLWDUHGLXVDUHFRGLFLVLPLOLDLQXPHULGLHPHUJHQ]DFRPHRSHUHYLWDUHGLFRPSRUUH DFFLGHQWDOPHQWHTXHVWLQXPHUL 6, &216, */, $', 0(025, ==$5(, &2', &, (', &216(59$5/, , 1/82*26, &8523(5(9, 7$5(, 1&219(1, (17, )$67, ', 26, &RGLFHGLEORFFRWHOHIRQR 8QFRGLFHGLEORFFRWHOHIRQRYLHQHIRUQLWRFRQLOWHOHIRQRSHUUDJLRQLGLVL FXUH]]D4XHVWRFRGLFHFRQVHQWHGLHYLWDUHJOLDFFHVVLQRQDXWRUL]]DWLDOWH OHIRQRHDOOHLPSRVWD]LRQL:$3 / LPSRVWD]LRQHGLGHIDXOWGHOFRGLFHq6LFRQVLJOLDGLLPSRVWDUHXQ QXRYRFRGLFHHGLFRQVHUYDUORLQOXRJRVLFXURORQWDQRGDOWHOHIRQR 3HUPRGLILFDUHLOFRGLFHGLEORFFRWHOHIRQR 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH6LFXUH]]D6HOH]LRQDUH%ORFFRWHOHIRQR 6HOH]LRQDUH0RGLILFDFRGLFHHVHJXLUHOHLVWUX]LRQLVXOGLVSOD\ 3UHPHUH2. SHUFRQIHUPDUHLOQXRYRFRGLFH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH6LFXUH]]D6HOH]LRQDUH%ORFFRWHOHIRQR 6HOH]LRQDUHO RS]LRQHGHVLGHUDWD , OFRGLFHGLEORFFRYHUUjFKLHVWRXQDVHFRQGDYROWDSHU DXWRUL]]DUHODVHOH]LRQH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3HUDWWLYDUHRGLVDWWLYDUHLOEORFFRWHOHIRQR &RGLFH3, 1 4XDQGRLOFRGLFHEORFFRWHOHIRQRqDWWLYDWRVLSRVVRQRFRPXQTXHHIIHWWXDUHOHFKLDPDWHGLHPHUJHQ]D /DVFKHGD6, 0qIRUQLWDFRQXQFRGLFH3, 1DFLIUHFKHSURWHJJHLOWHOHIRQR GDOO XVRQRQDXWRUL]]DWR4XDQGRqDELOLWDWRLOFRGLFH3, 1YLHQHFKLHVWRRJQL YROWDFKHVLDFFHQGHLOWHOHIRQR6HVLLPPHWWHSHUWUHYROWHFRQVHFXWLYHXQFR GLFH3, 1HUUDWRODVFKHGD6, 0VLEORFFDHGqQHFHVVDULRULYROJHUVLDOSURSULR IRUQLWRUHGLVHUYL]LSHURWWHQHUHLOFRGLFH38. DFLIUHYHGHUHSDJLQD 3HUDWWLYDUHHGLVDWWLYDUHLO3, 1 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH6LFXUH]]D6HOH]LRQDUH3, 1 6HLOFRGLFH3, 1qGLVDWWLYDWRYHUUjYLVXDOL]]DWR$WWLYD3, 16Hq DWWLYDWRYHUUjYLVXDOL]]DWR'LVDWWLYD3, 1H&DPELD3, 1 3UHPHUH2. HVHJXLUHOHLVWUX]LRQLVXOGLVSOD\ 3UHPHUH2. SHUFRQIHUPDUHO LPPLVVLRQH 9LHQHYLVXDOL]]DWREUHYHPHQWH$WWLYDWRR'LVDWWLYDWRSHU FRQIHUPDUHO D]LRQH 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH6LFXUH]]D 3HUPRGLILFDUHLOFRGLFH3, 1LO3, 1GHYHHVVHUHDWWLYDWR 'HVFUL]LRQHPHQXSULQFLSDOH &RGLFH3, 1 6HOH]LRQDUH0RGLILFD3, 1HVHJXLUHOHLVWUX]LRQLVXOGLVSOD\ 3UHPHUH2. SHUFRQIHUPDUHLOQXRYR3, 19HUUjYLVXDOL]]DWDOD FRQIHUPD 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ , OFRGLFH3, 1HYLWDO DFFHVVRQRQDXWRUL]]DWRDGDOFXQHIXQ]LRQHGHOWHOH IRQRFRPHODIXQ]LRQH)'1QXPHULILVVLRDOFXQHLPSRVWD]LRQLGHOVHUYL ]LR$R&DYYLVRGLDGGHELWRYHGHUHSDJLQD3XzHVVHUHPRGLILFDWRPD QRQDWWLYDWRRGLVDWWLYDWR 3HUPRGLILFDUHLOFRGLFH3, 1 3UHPHUH 6HOH]LRQDUH, PSRVWD]LRQL 6HOH]LRQDUH6LFXUH]]D 6HOH]LRQDUH0RGLILFD3, 1HVHJXLUHOHLVWUX]LRQLVXOGLVSOD\ 3UHPHUH2. SHUFRQIHUPDUHLOQXRYRFRGLFH3, 1 3UHPHUH(VFL R SHUWRUQDUHLQPRGRVWDQGE\ &RGLFH38. , OFRGLFH38. FRGLFHGLVEORFFRGHO3, 1qXQFRGLFHDFLIUHULODVFLDWRGDO IRUQLWRUHGLVHUYL]L9LHQHXVDWRSHUVEORFFDUHXQFRGLFH3, 1FKHqVWDWR LPPHVVRLQPRGRHUUDWRSHUWUHYROWHFRQVHFXWLYH, OFRGLFH38. QRQSXz HVVHUHPRGLILFDWR 4XDQGRYLHQHULFKLHVWRGLJLWDUHLOFRGLFH38. HSUHPHUH2. 9HUUjFKLH VWRGLLPPHWWHUHXQQXRYRFRGLFH3, 16HJXLUHOHLVWUX]LRQLVXOGLVSOD\UH ODWLYHDOO LPSRVWD]LRQHGHOFRGLFH3, 1 6HVLLPPHWWHSHUYROWHFRQVHFXWLYHXQFRGLFH38. HUUDWRODVFKHGD6, 0QRQSXzSLHVVHUHXVDWD 5LYROJHUVLDOSURSULRIRUQLWRUHGLVHUYL]LSHUDYHUHXQDQXRYDVFKHGD &RGLFH38. , O38. qXQFRGLFHDFLIUHULODVFLDWRGDOIRUQLWRUHGLVHUYL]L9LHQHXWLOL] ]DWRSHUVEORFFDUHXQ3, 1LOFXLFRGLFHqVWDWRLPPHVVRLQPRGRHUUDWR SHUWUHYROWHFRQVHFXWLYH, OFRGLFH38. QRQSXzHVVHUHPRGLILFDWR4XDQ GRYLHQHULFKLHVWRGLJLWDUHLOFRGLFH38. 9HUUjFKLHVWRGLLPPHWWHUHXQ QXRYRFRGLFH3, 16HJXLUHOHLVWUX]LRQLVXOGLVSOD\UHODWLYHDOO LPSRVWD]LR QHGHO3, 1 6HO XWHQWHLPPHWWHSHUYROWHFRQVHFXWLYHXQFRGLFH38. HUUDWRQRQSRWUjSLXWLOL]]DUHOHIXQ]LRQL FKHULFKLHGRQRLOFRGLFH3, 15LYROJHUVLDOIRUQLWRUHGLVHUYL]LSHURWWHQHUHXQDQXRYDVFKHGD 3DVVZRUGGLOLPLWD]LRQHFKLDPDWH 4XHVWDSDVVZRUGqQHFHVVDULDSHUFRQWUROODUHLOVHUYL]LRGLOLPLWD]LRQHFKLD PDWHGHVFULWWRDSDJLQD4XHVWDSDVVZRUGSXz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HSUHPHUH6HOH]LRQD 6HOH]LRQDUH9HORFLWj6HOH]LRQDUHODYHORFLWjRH SUHPHUH2. 3UHPHUH(VFL 6HOH]LRQDUH3UR[\'LJLWDUHLO1RPH3UR[\HSUHPHUH2. 'LJLWDUHO LQGLUL]]RGHOOD+RPHSDJHHSUHPHUH2. 6HOH]LRQDUH6FROOHJDPHQWRDXWRPDWLFRVFROOHJDLOFHOOXODUH GRSRXQGHWHUPLQDWRSHULRGRGLLQDWWLYLWjLPPHWWHUHLOSHULRGR GLWHPSRPLQXWLHSUHPHUH2. [. . . ]