,QKDOWVYHU]HLFKQLVV

6HLWH

$ENU]XQJVYHU]HLFKQLVV

$EELOGXQJVYHU]HLFKQLV

7DEHOOHQYHU]HLFKQLVV

3UREOHPVWHOOXQJJ

6WDWLVFKHHXQGGG\QDPLVFKH3UR]HVVHH

$XVJHZlKOWHH%HVFKUHLEXQJVIRUPHQQ

7H[WXHOOLQIRUPHOOO

)OXVVRULHQWLHUW

2EMHNWRULHQWLHUW

%HZHUWXQJJ%HVFKUHLEXQJVIRUPHQ

.ULWHULHQ

)OXVVRULHQWLHUW

6XEMHNWRULHQWLHUWW

=XVDPPHQIDVVXQJ

)D]LW

/LWHUDWXUYHU]HLFKQLVV

$ENU]XQJVYHU]HLFKQLVV

$5,6 $UFKLWHNWXUULQWHJULHUWHUU,QIRUPDWLRQVV\VWHPH H(3. HUZHLWHUWHHHUHLJQLVJHVWHXHUWH3UR]HVVNHWWHQ (3.. HUHLJQLVJHVWHXHUWH3UR]HVVNHWWHQQ 3$3 3URJUDPPDEODXISOlQH 3$66 3DUDOOHOO$FWLYLWLHVV6SHFLILFDWLRQQ6FKHPHH 6%300 6XEMHFWRULHQWHGGEXVLQHVVSURFHVVVPDQDJHPHQW 6,' 6XEMHNWLQWHUDNWLRQVGLDJUDPPP 69'' 6XEMHNWYHUKDOWHQVGLDJUDPPP 80/ 8QLILHGG0RGHOLQJ/DQJXDJHH

$EELOGXQJVYHU]HLFKQLV

6HLWH

$EELOGXQJ

$EELOGXQJ

$EELOGXQJ

$EELOGXQJ

$EELOGXQJ

7DEHOOHQYHU   HLFKQLVV

6HLWH   

7DEHOOH  HZHUWXQJVPDWUL GHUDXVJHZlKOWHQQ9HUWUHWHUU  

GHUU  HVFKUHLEXQJVIRUPHQ  

7DEHOOH  HZHUWXQJVPDWUL GHUU HVFKUHLEXQJVIRUPHQ  

JHQHUHOO   

3UREOHPVWHOOXQJJ

'LHH(IIL]LHQ]XQGG)OH[LELOLWlWWYRQQ*HVFKlIWVSUR]HVVHQQVSLHOHQQHLQHHLPPHUUJU|‰HUH 5ROOHIUGHQ(UIROJJHLQHUZLUWVFKDIWOLFKHQQ8QWHUQHKPXQJ'HVKDOEEVWHKWWGDVV=LHO YRQQ RSWLPDOHQQ XQGG V\VWHPDWLVFKHQQ *HVFKlIWVSUR]HVVHQ EHLL GHQQ PHLVWHQQ 8QWHU QHKPHQQ LPPHUU VWlUNHUU LP )RNXV 'DYRQQ YHUVSUHFKHQQ VLHH VLFKK .RVWHQUHGX]LHUXQ JHQEHVVHUHH5HVVRXUFHQQXW]XQJXQGGHLQH9HUEHVVHUXQJGHUU4XDOLWlWWLKUHVV3URGXN WHVV RGHUU LKUHUU 'LHQVWOHLVWXQJ $XIJUXQGG GHUU EHUVLFKWOLFKHUHQQ 2UJDQLVDWLRQQ GHU $EOlXIHHZLUGGDXFKKGLHH*HVFKlIWVIKUXQJHUOHLFKWHUWYJO)LVFKHUHWWDO9 $EHUU ZLH N|QQHQQ 3RWHQWLDOHH JHIXQGHQQ ZHUGHQ XPP GHPPRSWLPDOHQQ *HVFKlIWVSUR ]HVVVQlKHU]XNRPPHQ"(LQHHZLFKWLJHH9RUDXVVHW]XQJIUGLHVH6XFKHLVWWVLFKHU OLFKK GLHH 9HUZHQGXQJ HLQHUU JHHLJQHWHQQ 3UR]HVVEHVFKUHLEXQJVIRUP RKQHH GLHH HLQH Ä« V\VWHPDWLVFKH :DKUQHKPXQJ «³ 6WDXGG GHU 8QWHUQHKPHQVUHDOLWlWW QLFKWWP|JOLFKKZlUH

/DXWGHUUGLHVMlKULJHQQ-XQL$XVJDEHHGHVV0DJD]LQVV(ZXUGHPLWWGHPPVXEMHNWRUL HQWLHUWHQQ *HVFKlIWVSUR]HVVPDQDJHPHQW HLQQ 3DUDGLJPHQZHFKVHO HLQJHOlXWHW 6R VHLHQQGHUUVXEMHNWRULHQWLHUWHH$QVDW]XQGGGLHHGDPLWWYHUEXQGHQHH%HVFKUHLEXQJVIRUPP GHUU]ZLVFKHQPHQVFKOLFKHQQ9HUVWlQGLJXQJlKQOLFKHU$X‰HUGHPPOLH‰HHVLFKDXII%D VLVVGLHVHUU3UR]HVVEHVFKUHLEXQJJPLWWZHQLJ$XIZDQGGHLQHHQWVSUHFKHQGH 6RIWZDUHH HUVWHOOHQ (LQQ 1DFKZHLVV EHU GLH PDWKHPDWLVFKH 5LFKWLJNHLWW GHVV HQWVSUHFKHQGHQQ *HVFKlIWVSUR]HVVHVVN|QQHHHEHQIDOOVVHUEUDFKWWZHUGHQQYJO)lUELQJHUU $EHU LVWW GLHVH VXEMHNWRULHQWLHUWH 6LFKWZHLVH IU DOOH *HVFKlIWVSUR]HVVH JHHLJQHW"" 2GHU LVWW HVV HKHU ZLFKWLJ HQWVSUHFKHQGG GHPP MHZHLOLJHQ *HVFKlIWVSUR]HVVV GLH ]ZHFNPl‰LJVWH %HVFKUHLEXQJVIRUP DXV]XZlKOHQ" 8QGG ZHQQQ MD ZHOFKH XQWHU VFKLHGOLFKHQQ3UR]HVVEHVFKUHLEXQJHQQVWHKHQKLHUIUU]XUU$XVZDKO":DVVVLQGGHUHQQ 6WlUNHQQXQGG6FKZlFKHQ"

$XIGLHVH)UDJHQJLEWWGLHYRUOLHJHQGH+DXVDUEHLWWP|JOLFKH$QWZRUWHQ6LHVWHOOWW DXVJHZlKOWHH%HVFKUHLEXQJVIRUPHQQDQKDQGGHLQHVVILNWLYHQQ%HLVSLHOVVGDUUXQGGHUOlX WHUWWVLH'DUDXIIDXIEDXHQGGHUIROJWWHLQHH%HZHUWXQJPLWKLOIHHYRQQ]HQWUDOHQQ.ULWHULHQ 'DVV =LHOGLHVHUU+DXVDUEHLWEHVWHKWLQGHU(UDUEHLWXQJHLQHUU(QWVFKHLGXQJVJUXQG ODJHHIUUGLH:DKOHLQHUUJHHLJQHWHQQ9DULDQWHH]XUU*HVFKlIWVSUR]HVVEHVFKUHLEXQJ

:HVHQWOLFKH%HJULIIOLFKNHLWHQQ

'LHH JUXQGOHJHQGHQQ %HJULIIH ZHOFKH LPP 9HUODXII GLHVHU $UEHLWW LKUHH 9HUZHQGXQJJ ILQGHQZHUGHQQ]XHUVWWNXU]GHILQLHUW *HVFKlIWVSUR]HVV

'LH )DFKOLWHUDWXU KlOWW HLQH EUHLWH 9LHOIDOWW DQ %HVFKUHLEXQJVDQVlW]HQ IU GHQ %H JULIII*HVFKlIWVSUR]HVVVEHUHLWÄ2IWWZLUGGLQQGHUU/LWHUDWXUU]ZLVFKHQQÃ3UR]H‰µµ>@XQGG

$XFKKGLHH%H]HLFKQXQJ8QWHUQHKPHQVSUR]HVVVZLUGGDEHLLKlXILJV\QRQ\PEHQXW]W +DPPHUUXQGG&KDPS\VHKHQQLKQQÄ«DOVV%QGHOOYRQQ$NWLYLWlWHQIUUGDVVHLQRGHU PHKUHUHHXQWHUVFKLHGOLFKH,QSXWVVEHQ|WLJWWZHUGHQQXQGGDVVIUUGHQ.XQGHQQHLQQ(U JHEQLVV YRQQ :HUWW HU]HXJW³³ +DPPHU &KDPS\ 'HUU 3UR]HVVNXQGHH Ä« NDQQQ VLFKK DXFK LQQHUKDOEE HLQHVV 8QWHUQHKPHQVV EHILQGHQQ «³ +DPPHU &KDPS\

'LHVHH +DXVDUEHLWW RULHQWLHUWW VLFKK DQQ IROJHQGHUU %HJULIIVEHVWLPPXQJ Ä(LQQ 3UR]HVV EHVFKUHLEWWHLQHQQEHWULHEOLFKHQQ$EODXIGDVVKHL‰WWGHQ)OXVVVXQGGGDVV%HZHJHQQYRQQ 0DWHULDOOXQGG,QIRUPDWLRQHQQXQWHUU$QZHQGXQJYRQQ2SHUDWLRQHQQXQGG(QWVFKHLGXQ JHQ(UUEHVFKUHLEWW5HLKHQIROJHQQYRQQIXQNWLRQVEHUJUHLIHQGHQQ$NWLYLWlWHQQPLWW$Q IDQJXQGG(QGHHVRZLHHNODUUGHILQLHUWHQQ(LQJDEHQQXQGG$XVJDEHQ$XVV6LFKWWGHVV8Q WHUQHKPHQVVVROOOHUUHLQHQQ0HKUZHUWWVFKDIIHQ³³)LVFKHUHWWDO 6WDWLVFKHXQGGG\QDPLVFKH3UR]HVVHH

:HQQQHVVXPP*HVFKlIWVSUR]HVVHHJHKWLVWGLHH8QWHUVFKHLGXQJÄ«]ZLVFKHQQGHUUVWD WLVFKHQ 3UR]HVVGHILQLWLRQQ 3UR]HVVEHVFKUHLEXQJ XQGG GHU G\QDPLVFKHQ $XVSUl JXQJ HLQHVV 3UR]HVVHV 3UR]HVVLQVWDQ]³³ )LVFKHU HWW DO ZLFKWLJ :LUG GHPQDFKYRQHLQHUWDWVlFKOLFKHQQ%HDUEHLWXQJHLQHV9RUJDQJVVJHPl‰‰GHUMHZHLOL JHQQ3UR]HVVEHVFKUHLEXQJJJHVSURFKHQZLUGGLHVHUUDOVV3UR]HVVLQVWDQ]EH]HLFKQHW 'LHH 'DUVWHOOXQJ (UOlXWHUXQJ XQGG %HZHUWXQJ XQWHUVFKLHGOLFKHUU %HVFKUHLEXQJV IRUPHQQHUIROJWLQQGHQQIROJHQGHQQ.DSLWHOQ